MarketChess
Showing articles 6001 - 6010 (6612 total)
12Mar1:11 pmEST
Intel's Long-Term Overhead Supply: You Can't Stop What's Coming
As is inevitable in an unstoppable bull market, you hear nonstop theories as to why old-fashioned technical analysis "no longer works," as was said at the 2000 and 2007 peaks as well, not to mention in 1987, even in the trough of the 2002/3 and 2008/9 bears. One popular declaration is that long-term overhead supply (or likely resistance which...
12Mar12:18 pmEST
Symmetry Worth Observing
Headed into the east coast lunch hour, the S&P 500 Index is coming to terms with prior resistance from Tuesday morning's gap down in the market. Specifically, on the SPY, actively-traded ETF for the S&P, we can see as much on the 30-minute chart below. $206.80, just above, acted as resistance thus far today. Headed into the afternoon, I am...
12Mar11:40 amEST
Keep an Eye Out for Barnes and These Other Ideas
Starting with Barnes (B) on the first daily chart, below, here are a few actionable long setups on the radar if today marks the beginning of a broad market rally. I still have my doubts as to whether we are going to imminently sprint back to new highs from here. But it is always important to be open-minded and prepared to shift gears in a New...
12Mar10:58 amEST
A Clear Setup for the Underwater Names
With the U.S. Dollar finally pausing, at least thus far this morning, I am keeping an eye out for silver. We know silver has been dreadful over the last six weeks especially. But it may be ripe for a quick bounce trade on the long side. On the daily chart for the silver ETF, below, note yesterday's "hammer" upside reversal candlestick (it...
11Mar4:57 pmEST
Stock Market Recap 03/11/15 {Video}
The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...
11Mar3:34 pmEST
Going After Google; Chess Moves
I went short GOOGL at $557.15 with a cover-stop over $585. Playing for the right shoulder of a weekly topping pattern. This short position amounts to roughly 4% of my trading portfolio capital. The theory behind the trade is that Google has just staged a snapback rally after being a notable laggard for quite some time. This rally has excited...
11Mar3:02 pmEST
Down the Other Side of the Mountain
Headed into the final hour of trading today we can see the SPY, actively-traded ETF for the S&P 500 Index, below on the hourly timeframe illustrating that price "came around the mountain" back down to its lows from the second week in February, denoted by the horizontal light blue line. This has turned out to be the scene of a skirmish today,...
11Mar1:47 pmEST
I Think I Want My Money Back; Chess Moves
I covered more of my LVS short here, at $51.82, from my $55.34 entry to scale even more gains. As you know, I have been trimming this winner along the way, as it slides down. I now retain about 10% of my original position, letting ride, so to speak, to see if casinos truly do wipe out. My cover-stop is still at my entry...
11Mar1:04 pmEST
Drawing Up Some Afternoon Plans
I still retain half of my SRS long, which is the ultra-short ETF for the REITs, after taking partial gains earlier this week. On the first chart below, which is the daily timeframe for the IYR (straight-up ETF for the REITs), we could easily be seeing a bearish continuation pattern after it hit my initial target of the 100-day moving average....
11Mar11:58 amEST
It's All About Friday Night Now
Friday is going to be incredibly important this week, but not for social reasons. Instead, with the upside reversal we are seeing in the gold miners today, virtually across the board, we will need to see if the gold bugs can salvage a last-minute "save" at prior all-time lows we looked at on the GDXJ ETF yesterday. Updating that chart, below,...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
