MarketChess
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14Dec11:30 amEST
Mark Douglas: Mind Over Market Interview
Here we have a good interview to watch on this Sunday morning with Mark Douglas, the accomplished, trader, mentor, and author.
13Dec12:33 pmEST
Saturday Night at Market Chess Cinemas
The late, great Director Robert Altman's The Player (1992) is a steamy and stylish crime/drama/comedy all rolled into one. The film features Tim Robbins (pictured above) as a big-shot Hollywood film studio executive. Robbins' character spends much of the film trying to figure out which writer, whose script he had rejected, is sending him...
13Dec1:17 amEST
Big Changes Are Coming and They're Justified
The series finale of Justified on FX Networks, easily one of the best shows on television, is not the only big thing happening in early-2015. Stay tuned for details in the coming weeks about some exciting changes coming to Market Chess early next year...
12Dec3:56 pmEST
A Fine Market Story to Kick Off the Weekend Festivities
AAPL and IBM appear to be the heavyweights leading the Nasdaq and Dow lower this afternoon, respectively. Of course, the selling is well beyond that, as small caps break below their sloppy consolation pattern. Overall, I am still rather cash heavy with the UNP short and DGP long (from $24.13). The rest is cash and I think that is a fine place...
12Dec3:30 pmEST
Rain is a Good Thing; Chess Moves
As per the bullish setup I posted the other day on Stocktwits, I went long CORN at $27.25 just now, placing 4% of my trading portfolio capital in the position. My stop-loss would be if we see a close under $26. Back in a bit with the chart update.
12Dec1:52 pmEST
Update on a Chess Piece
I am still short the mega rail UNP, representing about 6% of my trading portfolio capital. I have cushion on my initial entry, above $118. On the updated daily chart, below, you can see the rail flipping back to nearly flat after a bounce at the open. I am sticking with the short because I view the highlighted consolidation as being a "bear...
12Dec12:46 pmEST
Two Charts Which Are Taking the Stairs Up
The silver ETF, seen on the first daily chart below, has quietly been outperforming the rest of the precious metals and miners complex in recent session. The highlighted consolidation pattern is a tight one, and I would be looking for a move over $16.50 to set in motion another playable leg higher. Silver bulls would not want to see $16 lost...
12Dec11:54 amEST
Big Blue Dinosaur Close to Extinction
The major topping pattern on IBM, seen below on the monthly chart, continues to assert itself. "Big Blue" is a huge weighting in the Dow Jones Industrial Average, and you can see the highlighted head and shoulders top already confirmed. I have a target of $130 and maintain it, as value investors from higher levels are trapped. Below $160, and...
12Dec12:28 amEST
Late Night Strategy for Friday
In addition to casual dining plays like RRGB TXRH, in the software space keep an eye on RUBI as another long idea on strength. If the IPO from last April can clear $15, seen on the first daily chart below, combined with a broad market which cooperates, I would look for a breakout higher. But if we see broad market downside follow-through to...
11Dec4:49 pmEST
Stock Market Recap 12/11/14 {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...
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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.
