MarketChess
Showing articles 5931 - 5940 (6612 total)
24Mar3:28 pmEST
Simon Says Pay Attention to Me
It is worth noting that the REIT Simon Property Group, presented below on the daily timeframe, is not only the top holding in the IYR (commercial real estate sector ETF), but is also a top ten holding in the XLF (sector ETF for the financials). Simon has been on a tear higher for years now, obviously helping IYR and XLF along the way. It is,...
24Mar2:33 pmEST
The Last Temptation of Rotation
With my X steel long acting well today, the issue of rotation down from biotechs and other extended, leading parts of the market down to select materials and commodities is still viable. In addition to the resilience in the precious metals and miners in recent sessions, we know copper and the global materials miners are trying to pick up some...
24Mar1:35 pmEST
Courting the Financials; Chess Moves
In addition to top XLF component Berkshire Hathaway flashing weakness today (seen below on daily chart threatening descending triangle breakdown), large banks such as BAC C JPM are also weak. In addition, the major credit card players are lagging the tape. Thus, I am taking a shot on the short side against the sector as a whole. I went long...
24Mar12:51 pmEST
Fighting the Good Fight
The small caps housed in the Russell 2000 Index are, once again, fighting the good fight and showing relative strength today. On the 30-minute chart for the small cap ETF, below, I am keying off the highlighted consolidated this afternoon to see if that remains the case. One the other hand, financials are showing weakness today, with the XLF...
24Mar11:55 amEST
View from the Bottom
It is truly impressive to see the extremely well-defined series of lows on the UNG, ETF for natural gas, seen below denoted by the light blue horizontal line stretching back several weeks. Clearly, buyers have staked their claim to defending those $13.60-ish lows. But have thus far failed to hold much progress above, too. Nonetheless, with...
24Mar11:18 amEST
Finally Setting Sail
It looks as though the widely-watched upside breakout in TWTR is finally setting sail, gauging the first daily chart, below. Still, I am interested to see if the social stock can close today over the key $50 level, given how anticipated the breakout seems to have been. Also note the stock is poking it upper Bollinger Band already, indicative of...
23Mar4:26 pmEST
Stock Market Recap 03/23/15 {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...
23Mar3:39 pmEST
Back in the Game; Chess Moves
After flattening out late on Friday, as noted in a blog post before the closing bell, I am back in the game with three trades into the bell today. I went long X at $24.24, playing the steel for a short squeeze higher from beaten-down conditions. My stop-loss is a daily close below $23, though I may cut sooner as I am looking for an imminent...
23Mar2:59 pmEST
Afternoon Notes Indicating Several Leanings
GPRO may finally be ready for that "so bad it is now good" short squeeze rally higher, potentially up just above $45 this week. I would key off the 5, 10, and 30-miute charts to see if it can flag out intraday for a series of higher lows on those timeframes. OAS looks like a breakdown candidate in the energy space, even with the USO crude ETF...
23Mar2:11 pmEST
Hot Cross-Currents Among the Buns of Steel Bottoms
My attempt to play a potential steel bottom quickly failed last month when I abruptly cut my AKS long for a small loss before the sector rolled back over. However, when the steels rolled over they retested recent lows, and may be forming double-bottoms now. It is, of course, way too early to declare any type of double-bottom confirmed, though,...
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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.
