The Allure of Catching the Falling Javelins

10Dec3:28 pmEST

Final Hour Handle Out of Which to Drink Your VIX Milk

Despite the rally in equities today, which largely featured the most broken of the broken momentum names snapping back, like GPRO TASR TWTR X, the volatility index for stocks is green. In fact, the VXX ETF is threatening another upside breakout. On the 30-minute chart, below, a move over $20.50 now (after holding over the $19 level had been...

10Dec12:46 pmEST

I Reckon I'd Be Much Obliged if Crude Oil Reacted to These Divergences, Ma'am

It is another day, and it is also another weak session for crude oil. Headed into the FOMC decision next week, the lingering issue remains whether Black Gold needs a further cathartic washout of bottom-fishing longs in order to arrive at a more tradable low. On the one hand, energy stocks in the OIL XLE have held comfortably above their...

10Dec10:52 amEST

Looking for That Certain Spark

One of the early themes in today's session to observe would be the many badly beaten-down momentum names finally experiencing something akin to a reprieve. Specifically, the likes of AMBA GPRO TWTR, even WFM, are all impressively higher this morning. Of course, there likely remains plenty of trapped longs from higher prices in all of those...

09Dec4:46 pmEST

Stock Market Recap 12/09/15 {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...

09Dec3:16 pmEST

Steve Wynn's Elbow > The People's Elbow

As the story goes , Steve Wynn bought a Picasso for $45 million in 1997. He then put his elbow through the work of art, causing over $90,000 in damages. This story of his damage, however, actually added value to the painting. Eventually, the painting was sold for $155 million in 2013. Today's stock market action in WYNN conjured up those...

09Dec12:45 pmEST

A Quick Apple Short Before Winter Hibernation

I am sticking with an AAPL short inside Market Chess Subscription Services, entered previously at $116.57 with a protective cover-stop on a close over $120. To be sure, Apple remains a terrific firm with a great line of products. It is a widely-owned and widely-loved firm, understandably. But from a technical perspective, Apple has clearly...

09Dec10:47 amEST

Searching for Direction

A sharp upside reversal off opening softness this morning sees the S&P 500 working through a well-defined range in recent sessions. On the updated 30-minute chart for the SPY, actively-traded ETF of the S&P, below, the light blue lines illustrate the pattern of lower highs but higher low, including this morning's bounce off the lower support...

08Dec10:05 pmEST

The Bright Gleam of Victory from the Kinder Morgan Dividend Cut

Kinder Morgan dramatically cut its dividend after the bell today, by 75% in fact , in a move which smacks of a firm in financial distress. Earlier today, we noted the stock was yielding more than 13%, rendering it either an irresistible bargain or, alternatively, a firm on the cusp of an imminent dividend cut. Clearly, we have our answer...

08Dec4:51 pmEST

Stock Market Recap 12/08/15 {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...

08Dec3:15 pmEST

The Allure of Catching the Falling Javelins

As tempting as it may be to fish out the mega-yielding MLPs (beyond crude oil, itself, of course), the reality is that it is likely best to wait for the HYG and JNK ETFs to at least stabilize. To be sure, the elements for a washout on a chart like the MLP, KMI, are present insofar as a steep price swoon to oversold after a prior downtrend,...