MarketChess
Showing articles 1981 - 1990 (6601 total)
28Oct12:53 pmEST
Do Some Detective Work
On the back of breaking news from Reuters this morning that Google or Alphabet is in talks to acquire Fitbit, shares of FIT were higher by around 22% as I write this. Despite the FIT chart sporting a fairly strong downtrend much of its time since 2015, we know that the business model was such that a buyout could come at any time. After all,...
24Oct11:07 amEST
Flexing in Time for Halloween
A sharp bounce virtually across the board in the bludgeoned software sector is giving bulls hope, once again, for the worst being over among growth stocks. While that may be the case, as the elder software statesman MSFT bounces a bit after earnings, there remains considerable risk of backing, filling, and more chopping around even if the lows...
23Oct3:43 pmEST
A Good Market Spoiled
Amid another sloppy and choppy day in the broad market, it is worth flagging Callaway Golf for you. On the ELY daily chart, below, note the outperformance of late, including the green today. True, earnings are coming up tomorrow. But the most interesting aspect about Callaway here is that they own a stake in TopGolf, an up-and-coming company...
23Oct10:48 amEST
Don't Just Go Through the Motions
One of the more challenging aspects about speculation, of all kinds, is catching yourself in the moment and resisting the urge to place a bet simply because that is what you think you are supposed to do. After all, if you are not trading, then what difference is there between you and some who never trades? On the surface, it seems like not...
22Oct10:51 amEST
Biogen Changing Just in Time
After large cap biotechnology stock Biogen resurrected its Alzheimer’s drug during its earnings beat this morning, the stock is higher by roughly 30% as I write this. Considering we are talking about a firm with a market cap over $50 billion, this is a rather unique move. As it pertains to the biotechs as a whole, keying off the IBB and XBI...
21Oct3:47 pmEST
More Ways to Fall in Love
Just a quick follow-up into the bell today with our working thesis that energy stocks and materials are putting in a long-term bottom: We have crude oil lower on global demand concerns (or at least that is the reason provided by CNBC). However, energy stocks themselves are higher, with the OIH ETF (oil service and equipment stocks) up 3.5% as...
21Oct9:53 amEST
Early Analysis of the Small Caps
"They've got tremendous moxie for their size." "Tell me about it. IWM is a fighter." Small caps are out of the gate impressively this morning. However, at the risk of throwing cold water on the party, note that software names like COUP MDB NOW OKTA TEAM WDAY are all red again (or flattish) and still cannot even muster a bounce after...
18Oct3:47 pmEST
Gliding All Over
For better or worse, I elected to lock in some modest wins with recent trades and move to full cash into the weekend. After some choppy and sloppy trading in recent weeks and even months, my thinking is to get back into the habit of taking down wins as long as the market is not in a silky smooth trend higher. And given the harsh selling we saw...
17Oct9:24 amEST
Make Yourself at Home
The housing sector continues to thrive to little fanfare, with homebuilders front and center in the ITB and XHB sector ETFs. Beyond some well-known builders like DHI KBH PHM are lesser-known but high quality ones like LGIH MDC SKY, among many others. For a while now, we have been tracking the relative and absolute strength in this sector both...
16Oct10:52 amEST
A Nap; Just Not a Dirt Nap
Software growth names are back in the doghouse this morning, be it due to a NOW downgrade or simply sellers reasserting themselves in the likes of AYX COUP MDB RNG SPLK WDAY, among others. Clearly, when we see these growth stocks come back under pressure it gives us pause regarding the potential for an imminent move to new highs in the broad...
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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.
