MarketChess
Showing articles 5911 - 5920 (6612 total)
27Mar12:41 pmEST
Three Confirmed Tops Staying Weak
As we have profiled for many months on end, AA CAT and IBM are all sporting charts which have confirmed, major topping formations after prior uptrends on longer-term timeframes. Their persistent weakness without much in the way of a meaty, tradable rally still renders them viable short trading ideas on any further weakness. Also note that all...
27Mar11:43 amEST
Two Ideas Putting in the Work This Week
OREX is still working on the long side, while TSLA is weak and getting weaker as a short idea. Even though many eyes seem to be on them, in terms of traders on Stocktwits, both setups are following their respective trends and continue to merit watching into next week.
27Mar11:02 amEST
Last Chance to Refuel
A few weeks back, we observed the $21.40 level on the GDXJ, ETF for junior gold miners seen on the daily chart, below, as being critical last-stand support before a major bear market breakdown ensued and likely saw the bear resuming for the metals and miners. Instead, bulls defended that level on a weekly closing basis, leading to a reasonably...
26Mar4:31 pmEST
Stock Market Recap 03/26/15 {Video}
The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...
26Mar3:51 pmEST
Adding Back to Volatility Into the Bell; Chess Moves
As a way to express the idea that the VIX likely goes to 20 soon, I added back to my UVXY long here at $15.83 from my $15.53 entry after previously scaling gains. I am playing for another volatility spike. The position is now back to full size. As I have stated before, UVXY is not for the faint of heart, being a levered long volatility ETF. So,...
26Mar3:17 pmEST
Final Hour Notes on a Slow Day
Apart from taking partial profits this morning in my UVXY long, I have not been trading much today as the market has been in a choppy range. Regarding specific setups ICPT sure is distinguishing itself, seen on the daily chart, first below. On strength and into a market rally this one would be worth watching as a long idea. Meanwhile, SNDK,...
26Mar2:28 pmEST
No So Invincible
While crude oil pushes higher, and now even energy stocks are flipping green, Russia is lagging those assets to which it is typically correlated. On the updated country ETF daily chart for Russia, below, note the threat of a breakdown from the highlighted wedge. For a while now, Russia, crude, and energy stocks have been tough to swing trade...
26Mar1:29 pmEST
A Look at Leadership
Despite FB trying to bounce back today from yesterday's selling, a lingering issue for this market near all-time highs is the weakness in TSLA, a clear momentum darling dating back to 2013 if not an outright "super stock." On the updated daily chart, below, note Tesla's continued corrective structure, with price operating well below longer-term...
26Mar12:37 pmEST
A Drive-Thru Setup
As I mentioned earlier today, CNAT off the gap higher in biotech land could be setting up for day-traders. On the 5-minute chart, below, a $6.90-$7.10 bracket may be appropriate in terms of triggering either a short or long setup intraday, respectively. The edge probably goes to bulls given the gap higher and fairly orderly consolidation off...
26Mar11:45 amEST
Sliding Into an Obvious Base
Both the QQQ and SPY, ETFs for the Nasdaq and S&P 500 indices, respectively, are sliding back down to their lows from mid-March. On their 30-minute charts, zoomed-out below, I would not be surprised to see an intraday bounce off these levels, given that we slid down here in a fairly straight line, which may be happening as we speak. However,...
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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.
