MarketChess
Showing articles 6171 - 6180 (6580 total)
03Feb3:09 pmEST
Debating a Justifiable Swing
Earlier this afternoon I initiated what I planned to be a day-trade on Stocktwits and Twitter in DWTI, the triple-short ETF for crude oil. Here is my original note. I sold off profits up to $104.86. Currently, I have half of the position on and am debating swinging it overnight. Crude oil has seen a nice multi-day short squeeze back from...
03Feb1:41 pmEST
Cutting a Loser and Locking in Airline Winners; Chess Moves
The market continues to be extremely volatile not just on a day-to-day basis, but also intraday as well. As such, there is still a premium being placed on agility and discipline as a trader. We simply need to keep cutting losers quickly, while managing winners effectively. With this in mind, I made the following sales: I sold my TZA long for...
03Feb12:17 pmEST
Signs of the Bread Basket Storm Passing
While crude oil is getting much play for its snapback rally from badly beaten-down conditions, soft commodities are also staging relief rallies today. Just like oil, the softs have been pummeled in recent months, which I am sure has been just one consequence of the U.S. Dollar runaway freight train higher. Nonetheless, the greenback is coming...
03Feb11:27 amEST
More Spreads Than Your Super Bowl Party
The bifurcation across markets continues, with biotechnology stocks essentially breaking down from a rising wedge (although the close is going to be paramount today, it is still fairly early in the session), while other parts of the market are strong, namely the Dow and small caps. You can see the updated biotech sector ETF daily chart, below...
03Feb10:30 amEST
Russia Bears Watching for Love
In the midst of the snapback rally in crude oil and energy stocks, Russia has stopped going down for now. The RSX, country ETF for Russia, seen below on the daily timeframe, shows a consolidation pattern which has morphed into a sideway channel. Bears have thus far failed to crack it lower, perhaps blinded by love for a crash in crude and...
02Feb4:58 pmEST
Stock Market Recap 02/02/15 {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...
02Feb3:15 pmEST
Trimming Some Fast Gains; Chess Moves
For the sake of discipline in this volatile market, I just sold a piece of NUGT long up here at $19.53 from my posted $18.46 entry earlier today here , to lock in some initial, fast gains. I still, however, have my core position on with a stop-loss below $17.20. Precious metals and especially miners are having a solid day, overall. But more...
02Feb2:44 pmEST
Afternoon Trading Wisdom from Paul Tudor Jones
Here is some fascinating wisdom from a legendary trader, which runs contrary to many trading systems and philosophies. My take-There is a ton of merit to what Paul Tudor Jones is saying, provided that you maintain stop-loss discipline along the way to catching said top or bottom. Hat Tip to @z8angela on my Twitter stream for posting this .
02Feb1:55 pmEST
Changing Weather Patterns
While shorting biotechnology stocks has been a tricky, tough, even dangerous endeavor for a while now, the weakness in AMGN today is a sign of a change in character. On the daily chart, below, note AMGN breaking below the highlighted descending channel pattern. True, BIIB GILD, even CELG have been resilient. But the sector has been churning of...
02Feb12:07 pmEST
An Attractive Point of Attack; Chess Moves
I went long NUGT again, the triple-long ETF for for the senior gold miners, at $18.46 with a protective stop-loss below $17.20. This position represents roughly 4% of my trading portfolio capital. I have played the gold miners numerous times this year with good results. But, of course, each trade is going to need to stand on its own merits. It...
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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.
