MarketChess
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21Mar1:03 pmEST
The Missing Link to Solve This Case
After a slow morning, the indices are drifting while biotechnology benefits from a rotation down. Commodities are largely in digestion mode, save sugar remarkable rally continuing--We have our eyes on corn, too. And are stalking this consolidation in coffee closely. As for the precious metals and mining complex, the missing link to solve the...
21Mar10:45 amEST
Underwater Green
Valeant is looking to punish some overly-ambitious shorts this morning, with VRX up nearly 15% as I write this in a flattish broad market trading session, thus far. On the 30-minute chart, below, note that price is back up to what should be an initial difficult level. Above $31.50 today, and I suspect we could see a continuation of a squeeze....
20Mar3:21 pmEST
Weekend Overview and Analysis 03/20/16 {Video}
The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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. Please click here for more...
20Mar12:46 pmEST
Sunday Matinée at Market Chess Cinemas
Nearly twenty-five years later, I can vividly remember sitting in a theater being mesmerized by the cinematography in the film, A River Runs Through It (1992). Based on the true story of Norman Maclean’s life in Missoula, Montana, Robert Redford directs a gripping period piece about fly fishing and the different paths that two brothers take...
18Mar2:48 pmEST
Leave the Gun. Take the Steak
Bulls continue to defy top-callers as we work through the late-afternoon portion of today's session. I am mostly looking to stay out of trouble on the short side, for now, until I see some more meaningful signs of buyers losing their grip on the action. While some sectors like regional banks are well off session highs, biotech has staged a...
18Mar1:10 pmEST
This Bear Claw Recipe Calls for Bittersweet Chips
The vertical rally in the semiconductors is suddenly closing in on a major resistance trendline dating back to last Memorial Day, when the chips seemed unstoppable. As we know, however, that proved to be anything but the case, as the semis topped out and trapped a plethora of longs near $60, on the SMH sector ETF. Since then, the semis...
18Mar11:13 amEST
Drone Surveillance on Amazon
Amid another morning where the indices are resilient and pushing higher yet, the action below the surface is still a bit sluggish. TSLA, as we observed yesterday, is now up to major resistance trend dating back to last summer with the latest squeeze this morning, making it tough to do much of anything at the moment while we see if the steep...
17Mar5:33 pmEST
Stock Market Recap 03/17/16 {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...
17Mar3:20 pmEST
A Tactical Maneuver
As we wind down the session on a day when many market players are likely busy with basketball or St. Patrick's Day, or both, commodities have notably outperformed again. We are seeing a bit of a reversal down in the gold miners, though, we saw me taking some profits inside Market Chess Subscription Services. However, the financials are waking...
17Mar12:55 pmEST
It's a Winston Wolfe Bull Market, You Know
A hidden, subtle issue about the rally in commodities in 2016 may very well be that sugar, of all things, led the complex down since 2011 in a very pronounced manner, in a potent downtrend, before bottoming late-last summer. After sugar bottomed before Labor Day 2015, it then made a meaningful higher swing low, which we profiled in real-time...
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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.
