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18Apr10:50 amEST
Sending Energy Bears Up the Tree
Despite a massive downside gap in crude oil futures last evening off the inability for a deal to materialize in Doha over the weekend, USO is down just under 3% and coming to terms with the $10 level on that ETF which has been significant previously. Moreover, and perhaps even more concerning to energy bears, the energy stocks are flashing...
17Apr4:22 pmEST
Weekend Overview and Analysis 04/17/16 {Video}
The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...
17Apr12:44 pmEST
Sunday Matinée at Market Chess Cinemas
Devil in a Blue Dress (1995) combines one of my favorite writers, directors, film genres all together for an enjoyable viewing. The genre is technically a neo-film noir, stylish and sharp and harkening back to Hollywood yesteryear, directed by Carl Franklin (of One False Move fame). The film is based on Walter Mosley's novel of the same name...
15Apr2:29 pmEST
You Always Wait Three Days to Call, Baby
On a slow market day, the temptation may be to rush in and stick in a bid for some type "knife catch" and a fast-moving upside play. However, just as we noted a few months back with the post-earnings disasters that were DATA and LNKD, when stocks see shocking disequilibriums like these, it typically is best to wait three sessions for the...
15Apr1:04 pmEST
No More Shines, Billy
Bats Global Markets, presumably no relation to Billy Batts, went public today as the biggest U.S.-based IPO so far this year. On a fairly slow day in the tape, this one over $23 this afternoon may work for a scalp long. Elsewhere, we do have some short squeezes working in the likes of FIT. But plenty of others are fading, like GPRO. Also note...
15Apr10:46 amEST
Why're You Tryna to Get Crazy with Inflation, SID? Don't You Know the Central Bankers Are Loco?
I will let the macroeconomic experts and Fed-heads deal with the "why," but the steels and precious miners are tightening up quickly on this pullback. After some shaking and baking yesterday, silver miners, for example, are firm and possibly bull-flagging for yet another push higher next week. Note how the silver metal has given back next to...
14Apr4:52 pmEST
Stock Market Recap 04/14/16 {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...
14Apr3:45 pmEST
It's the Nature of the Beast Which Counts
On a fairly slow market day, the price action in crude oil is of interest. The USO, ETF for crude, below on the daily timeframe, illustrates that Black Gold is pausing at prior price resistance. In and of itself, this is practically to be expected--To see "overhead supply" kick in. However, merely seeing some overhead supply kick in need not...
14Apr12:32 pmEST
No Reservations for This Next Adventure
After brilliant price action and volume patterns over the past few weeks and months, the metals and miners are largely coming in today on the back of a stronger U.S. Dollar (see previous blog post). Regarding when and where to buy a pullback in the XME, ETF for metals/miners, which houses plenty of precious miners and steels, the answer...
14Apr10:50 amEST
Smooth Sailing No More
A weakening U.S. Dollar throughout the late winter months seems to have enabled a good deal of risk appetite in both equities and commodities, not to mention the Euro and Swiss Franc. However, the greenback is staging at least some type of relief rally this week. And while equities have yet to flinch, precious metals and their miners are using...
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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.
