The Ol' Texas Hedge

15Mar1:38 pmEST

Pre-Race Festivities

In front of the FOMC decision at the bottom of the hour, followed by a Yellen presser, stocks are off session highs but still green. In good Jack Dorsey/bad Jack Dorsey dynamic is on full display, with SQ sporting a bullish chart, coiled as a long setup, while TWTR is unable to hold any bounces and looks ripe to break into single digits this...

15Mar10:41 amEST

A Thrilling Series for Netflix

In front of The Fed, Netflix is acting the best of the "FANG" stocks, as well as PCLN and TSLA. Indeed, it has been a thrilling series of technical events for Netflix bulls in recent quarters, as bears squandered one opportunity after the next to bring the leader down. A good chart perspective on NFLX can be seen, below, on the weekly...

14Mar3:49 pmEST

Stock Market Recap 03/14/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

14Mar3:46 pmEST

Ready for Some Raising

It was a fairly standard day of consolidation again on the indices today, with some pullbacks keeping bulls honest in front of the big FOMC decision tomorrow. However, we did have some fireworks below the surface, with TSLA rallying on heavy buy volume back over resistance. In addition, one biotech, TSRO, got taken out back and sold off...

14Mar1:13 pmEST

Not an Auto-Buy, But Tesla is Toughening Up

After its recent pullback since late-February earnings, Tesla Motors responded to a brief dip below the key $250 level in a bullish manner. Today, the name is shooting higher in the face of a soft, pre-FOMC tape. As I write this, Tesla is trying to clear $255, the next level of resistance we have been tracking after $250. While TSLA is still...

14Mar10:32 amEST

Falling Channels Falling Down

Both crude oil, as well as energy stocks such as RIG, are acting like more longs remain trapped in them rather than a scenario where longs have already capitulated and we would therefore be closer to a bottom. On the XLE, energy sector ETF, daily chart below, note the well-defined falling channel pattern which took hold since mid-December....

13Mar3:50 pmEST

Stock Market Recap 03/13/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

13Mar3:48 pmEST

Dead Ahead of The Fed

Despite a relatively flat day on the major averages, some standouts below the surface made for interesting movement. We continue to put in the work to identify for Members the very best charts even with plenty of macro events this week. Bears have had ample time to make a dent in this market, and even have some notable victories like the...

13Mar1:40 pmEST

Foxwoods and Mohegan Sun: Enjoy it While it Lasts

The opening of Steve Wynn's Boston Harbor property may have been pushed back to 2019, giving Foxwoods and Mohegan Sun, among other casino resorts in New England/upstate New York some borrowed time. However, make no mistake that marker will indeed come due. And when it does, I suspect WYNN will dominate New England and even parts of New York,...

13Mar10:10 amEST

The Ol' Texas Hedge

Texas hedge noun 1. (finance) the opposite of a normal hedging operation, in which risk is increased by buying more than one financial instrument of the same kind We caught a fortuitous bounce of the ball inside Market Chess Subscription Services this morning, walking into today both Long MBLY and Short INTC. With Intel buying out...