MarketChess
Showing articles 5901 - 5910 (6579 total)
24Mar12:51 pmEST
Fighting the Good Fight
The small caps housed in the Russell 2000 Index are, once again, fighting the good fight and showing relative strength today. On the 30-minute chart for the small cap ETF, below, I am keying off the highlighted consolidated this afternoon to see if that remains the case. One the other hand, financials are showing weakness today, with the XLF...
24Mar11:55 amEST
View from the Bottom
It is truly impressive to see the extremely well-defined series of lows on the UNG, ETF for natural gas, seen below denoted by the light blue horizontal line stretching back several weeks. Clearly, buyers have staked their claim to defending those $13.60-ish lows. But have thus far failed to hold much progress above, too. Nonetheless, with...
24Mar11:18 amEST
Finally Setting Sail
It looks as though the widely-watched upside breakout in TWTR is finally setting sail, gauging the first daily chart, below. Still, I am interested to see if the social stock can close today over the key $50 level, given how anticipated the breakout seems to have been. Also note the stock is poking it upper Bollinger Band already, indicative of...
23Mar4:26 pmEST
Stock Market Recap 03/23/15 {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...
23Mar3:39 pmEST
Back in the Game; Chess Moves
After flattening out late on Friday, as noted in a blog post before the closing bell, I am back in the game with three trades into the bell today. I went long X at $24.24, playing the steel for a short squeeze higher from beaten-down conditions. My stop-loss is a daily close below $23, though I may cut sooner as I am looking for an imminent...
23Mar2:59 pmEST
Afternoon Notes Indicating Several Leanings
GPRO may finally be ready for that "so bad it is now good" short squeeze rally higher, potentially up just above $45 this week. I would key off the 5, 10, and 30-miute charts to see if it can flag out intraday for a series of higher lows on those timeframes. OAS looks like a breakdown candidate in the energy space, even with the USO crude ETF...
23Mar2:11 pmEST
Hot Cross-Currents Among the Buns of Steel Bottoms
My attempt to play a potential steel bottom quickly failed last month when I abruptly cut my AKS long for a small loss before the sector rolled back over. However, when the steels rolled over they retested recent lows, and may be forming double-bottoms now. It is, of course, way too early to declare any type of double-bottom confirmed, though,...
23Mar1:09 pmEST
Emerging from the Darkness
While I thought CHUY would emerge as a catch-up play to the stronger casual dining stocks, namely the likes of BLMN CBRL DENN FRGI RRGB TXRH, among others, as it turns out BBRG has been performing better on a relative basis. Much like CHUY, Bravo Brio was a beaten-down laggard among restaurants. However, unlikes CHUY we have seen BBRG hold...
23Mar12:17 pmEST
Potential for a Trap
After rallying over the past several trading sessions, energy stocks are now up against some interesting technical points of reference. On the energy sector ETF daily chart, below, note the 20 and 50-day moving averages now greeting price after the bounce off recent lows. In addition, note the light blue lines I have drawn denoting a possible...
23Mar11:33 amEST
Rotation in the Medical Field
For at least a short-term rotation, it looks as though some money is coming out of large cap biotechnology issues like GILD, first daily chart, below, and moving over to a major pharmaceutical firm like PFE, seen on the second daily chart. GILD and other large cap biotechs have been on a tear for years now. But while fellow leader BIIB has...
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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.
