MarketChess
Showing articles 6041 - 6050 (6613 total)
05Mar3:42 pmEST
Staying Tactical Against General Winter
Into the closing bell, I am tempted to put on another UGAZ long, with UNG holding over $14.40. However, on this wintry, grinding day I am going to avoid over-trading and err on the side of patience. If there is one thing history teaches us, it is to not try to force a battle against General Winter (just ask Napoleon and Hitler). My current...
05Mar3:10 pmEST
Hold on for Dear Life
To reiterate some long ideas I will discuss on the recap tonight, if we get some more strength out of their basing patterns: ADSK CYBR FEYE GNC PAYC PLAY, among others. Still, the weakness in AAPL is interesting and worth revisiting this final hour. On the updated 30-minute chart, we could easily be bear-flagging at that key $126.60 level we...
05Mar2:20 pmEST
Grinding Away with Indecision
My open positions are a mixed bag, with the CAT short working the best for me. Meanwhile, my CRTO ERY SRS longs are grinding in the other direction. But even with the CAT short, dip-buyers are giving it every effort off the morning lows. As far as fresh positions, a few long setups into strength are: ADSK GNC HALO LNKD PAYC. The ag plays,...
05Mar1:20 pmEST
Two Good Views in the Heart of Winter
The AAPL 30-minute chart, first below, has been a recurring bit of analysis on this website over the past two weeks. And we can see after the $130.30 the $128.30 levels were lost, price came back down to $126.60 before losing even that level. It will be interesting to see how Apple and the market close with this short-term weakness. Again, know...
05Mar12:32 pmEST
Pressing for Lethargic Energy Stocks; Chess Moves
I am pressing the energy stocks, housed in the XLE ETF, to resume their downtrend and defy the many calls for a major bottom in place. As a result, I went long ERY, the triple-bearish ETF for energy stocks, at $20.37 with a protective cover-stop below $19.50. This position amounts to roughly 4% of my trading portfolio capital. Keying off the...
05Mar11:50 amEST
Delta Skidding Off the Topping Pattern
With news of a Delta Airlines flight skidding off the runway at LaGuardia Airport, closing it in the snow, let us take a look at the DAL chart. And when we do, we have a solid short setup now watch, threatening to skid off the topping pattern highlighted on the daily chart, below. I view a move under $44.30 as being a viable initial short...
05Mar10:41 amEST
Back to Switch-Hitting; Chess Moves
I just closed out the rest of my DUST long above $15.10 from the $14.61 entry the other day. Gold miners seem to be wanting to reverse today after some recent weakness. And considering the strength in the U.S. Dollar, the reversal is all the reason I need to take down the rest of this win. As I stated before, I may very well reverse the trade...
04Mar4:18 pmEST
Stock Market Recap 03/04/15 {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...
04Mar3:05 pmEST
Going After Prized Real Estate; Chess Moves
I just went long SRS, which is the double-bearish ETF for the commercial real estate stocks (REITs). I went long at $12.03 with a protective stop-loss below $11.50. This position equates to roughly 4% of my trading portfolio capital. The top individual holdings to watch with respect to this play are: SPG AMT CCI. In my view, all three, and...
04Mar2:23 pmEST
Keeping the Count with Apple
It is still worth keeping tabs on AAPL, given how heavily it is weighted in the Nasdaq, as well as the stock's remarkable performance of late. On the updated 30-minute chart, below, note that price has reached the apex/nadir of the triangle pattern I have highlighted in light blue. With $130.30 lost last week (a key short-term level), $128.30...
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“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.
