Imitation is the Sincerest Form of Flattery

11Oct1:24 pmEST

Early Channel Checks at Wynn Boston Harbor

As police struggle to properly construct the most accurate timeline of the Mandalay Bay shooting, it appears that MGM (Mandalay Bay's owner) could easily face plenty of civil lawsuits (negligence, wrongful death with plaintiffs using both torts possibly to seek punitive damages from MGM's deep pockets). While MGM is short-term a bit oversold, I...

11Oct10:50 amEST

Beer and Circus Ain't What it Used to Be for Disney

Much of my focus remains on the long side in this market, given the historical resilience and nonstop rotations. Nonetheless, a few interesting shorts are popping (or dropping) up here and there, with Disney acting as a good example for us to examine. Disney is, of course, a Dow component and was a major winner from 2009 into 2015. Since then,...

10Oct3:55 pmEST

Stock Market Recap 10/10/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets If you enjoy my videos and blog posts, then please...

10Oct3:51 pmEST

Rorschach Tests

The lithium ETF, LIT, below on the daily chart, is a pretty good example of the "pick your bias" nature of the stock market pretty much always, but especially at this moment in time. Bears will argue a non-confirmed double-top is afoot, while bulls will point to the strong trend over the last year as evidence per se of buyers firmly in...

10Oct1:16 pmEST

Another Long Shot at the Copa

As a quick follow-up to this blog post from around Labor Day, the South American airlines continue to operate impressively and are decidedly off the radar of many traders. Whether it be AZUL, below on the daily timeframe, setting back up on the long side above $29, or Copa (CPA), GOL, LTM (with AVH as a catch-up play) South American growth...

10Oct10:48 amEST

That Special Diamond at Wal-Mart

Some positive news flow is helping Wal-Mart gap higher this morning, up and out of daily chart base consolidation. Recall that it was not too long ago that WMT was considered obsolete, rendered as much by Jeff Bezos and his budding empire destroying all things retail. While we generally respect and accept AMZN's dominance, it is also likely...

09Oct3:53 pmEST

Stock Market Recap 10/09/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets If you enjoy my videos and blog posts, then please...

09Oct3:52 pmEST

GE Not Very "Technically Correct" On Columbus Day

On this Columbus Day, with the bond market closed with stocks open, one of Wall Street's iconic stocks from the Nifty Fifty, GE, is not very "technically correct," seen below on the quarterly chart. Simply put, GE is one of the few mega cap stocks in the market which remains in a long-term downtrend (lower highs, lower lows) since the turn of...

09Oct1:23 pmEST

A Hardcore Pawn Strategy

Gold bugs have a few more glimmers of hope for a new bull run today, beyond seeing the promising action to start the week in the precious metals and most miners, themselves. Specifically, to return to a "tell" we looked at previously, pawn stores can typically mirror the price of gold and, at times, front-run it. Thus, with EZCORP, Inc.,...

09Oct10:42 amEST

Imitation is the Sincerest Form of Flattery

With another benign open this morning, it is worth considering that we could easily be at a phase in this rally where the most downtrodden, left-for-dead high beta names suddenly reverse higher and trap latecomer shorts. Fitbit is one such idea, on the first daily chart, below. Note FIT has reclaimed its 200-day moving average and continues to...