MarketChess
Showing articles 6581 - 6590 (6613 total)
18Nov2:46 pmEST
Burger King Grabbing More Than Its Fair Share
Burger King (BKW) has been a long idea I have reference over the past week or so. The King seems to be distinguishing itself from peers MCD YUM, certainly from a technical perspective. On the daily chart, below, note the sound technical basing pattern above all major moving averages. If the strength today is the beginning of a breakout, then a...
18Nov1:05 pmEST
Defeated By General Winter
As we zoom closer to winter, natural gas bears are still up against it with the recent strength in the commodity. I went long UGAZ, the triple-levered long natural gas ETF, yesterday at $15.28, amounting to 4% of my trading portfolio capital. I then sold half of that position at $16.44 to lock in partial gains into a nice rip, timestamped...
18Nov12:03 pmEST
The Long and Short of It
I mentioned LEN and a few other homebuilders as long setups of late. Lennar continues to bull flag up here with a $46.15 trigger to get another push higher. By the same token, while homebuilders have seen a resurgent bid of late the wildly-extended (longer-term) housing derivative retail plays, namely HD LOW, can be seen as short setups...
18Nov10:35 amEST
You Better Come to Play in This Sector
I am still focused on the precious metals and miners space from the long side, as sentiment had become wildly bearish off recent lows while price action has improved to confirmed positive divergences. In addition, we can see the junior gold miners, housed in the GDXJ ETF, outperforming the entire space once again this morning, which is...
18Nov12:26 amEST
Late Night Strategy for Tuesday
I posted several charts on Stocktwits on Monday night. Among them, BTU us a long idea on further strength, seen on the first daily chart, below. This is a heavily-shorted coal play that is trying to form a bottom. Above the 50-day moving average (dark blue line), I expect the squeeze to commence. And CAB is a short idea, with the retail stock...
17Nov3:28 pmEST
Now We Circle Around
I went long NUGT on Friday, the triple-long gold miner ETF at $14.15. My stop-loss is below $13.50. On the 30-minute GDX chart, the senior gold miner ETF, below, we looked at $18.70 being a key breakout level. As you can see, we got the breakout, retest, and subsequent push higher. Also note the junior gold miners leading higher today,...
17Nov2:25 pmEST
Going Short Facebook; More Chess Moves
I placed 4% of my trading portfolio capital in a short Facebook ($FB) position here, at $74.09, with a protective cover-stop above $77. I posted a chart earlier today on Stocktwits, discussing the idea that the more well-defined support is probed by price basing or "leaning" down against it, the more likely it is to eventually give way as the...
17Nov1:09 pmEST
Chess Moves
I placed 4% of my trading portfolio capital into a long UGAZ position, at $15.28. My protective stop-loss is if the triple-levered long natural gas ETF loses $14.60, below. I have been outlining my thesis on natural gas for a long trade for several days now tracking the sharp breakout and then pullback in recent weeks. The UNG, straight-up...
17Nov11:20 amEST
Natty Gas Burglars Strike Again
The long natural gas idea from over the weekend is coming to fruition, as we can see natty gas bulls stealing away the initial at major horizontal support (purple line) on the daily chart, below. Note that the recent pullback could easily have made a major higher low before the natty rally resumes. I like what I am seeing off the opening gap...
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“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.
