MarketChess

15Jan3:10 pmEST

I Think I Can Short Ford; Chess Moves

I went short Ford here at $14.91, with a cover-stop above $15.80. I am playing for breakdown on all timeframes. With retail sales slumping, and big ticket-related items like homebuilders getting hit hard, too, I think going after the large auto-maker makes sense. In addition, the technicals are there to take a shot on the short side. Ford has...

Read More

15Jan1:53 pmEST

A Battle Worth Fighting; Chess Moves

I went long BIS at $43.85 with a stop-loss below $41.50. BIS is the ultra-short biotechnology sector, which means I am now shorting biotech as a group. Some of the biggest components in the ETF are: AMGN BIIB CELG GILD, among others. Biotech has been a hot and crowded long trade for a while. Shorting the space has been particularly ominous...

Read More

15Jan1:10 pmEST

Scale and Trail, Scale and Trail; Chess Moves

I covered a piece of my FB short here at $74.32 from the $76.22 entry noted in this blog post yesterday to lock in gains. I am trailing stop down to entry on rest of the position. It was roughly 4% of my portfolio, and now is a little over 2% of my trading portfolio capital. The FB daily chart, seen below, shows price now hitting the lower...

Read More

15Jan11:55 amEST

About That Ubiquitous Bullish Homebuilder Thesis...

The sexy 2015 homebuilder bull thesis gained popularity early on this year. But I was never too keen on it. In several prior videos, I noted how the homebuilders themselves were suspect about holding breakouts. Furthermore, the housing derivative plays, such as retail giants HD LOW SHW, were long in the tooth after brilliant multi-year bull...

Read More

15Jan11:31 amEST

Playing the Miners with Papa Smurf; Chess Moves

As opposed to my JNUG (triple-long ETF for the little junior gold miners) trade earlier this week, which I was fortunate to sell near the highs (thus far), I am upgrading in terms of size to Papa Smurf, or NUGT, which is the triple-long ETF for the senior gold miners. Specifically, I went long NUGT at $16.88 with a stop-loss below $16. This...

Read More

15Jan10:49 amEST

These Are Funky Steps to Take Higher

If the precious metals and miners are indeed bottoming, then by definition they will have to keep plodding higher--taking the stairs up, if you will--each time it seems as though they are ripe to roll back over again. In order for me to get back into the likes of JNUG NUGT as levered long gold miner ETFs, for example, I want to continue to...

Read More

14Jan5:23 pmEST

Stock Market Recap 01/14/15 {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...

Read More

14Jan3:40 pmEST

Lightening Up and a Portfolio Update; Chess Moves

I covered half of my UAL short at $62.72 from $65.13 entry noted here to lock in partial gains. I am moving my stop to my entry. I also decided to cover the rest of TSLA short at $191.22 from the $206.55 entry I noted here . I will revisit it soon but don't want to get caught in a squeeze. Crude oil and the market are bouncing this...

Read More

14Jan2:23 pmEST

Kicking Half Off the Flight; Chess Moves

I just covered half of my AAL short at $48.94 from the $53.59 entry noted here . I moved my stop-loss to my entry price. This is more "scaling and trailing" winning positions, as is my style. I still believe the airlines have more downside. But given how volatile the market has been, and how resilient bulls could easily still be, I am going...

Read More

14Jan1:37 pmEST

Chess Gives His Assessment of the Current Market Structure

Read More