MarketChess
Showing articles 6211 - 6220 (6580 total)
27Jan2:25 pmEST
I've Identified the Rare "Head and Sheikh" Setup in Oil
If the U.S. Dollar can finally come in for more than a few minutes this week, I would expect crude oil to then finally be capable of staging some type of relief rally for longer than the time it takes to fill up a tank of cheap gas. On the 30-minute chart for the USO, ETF for crude oil, we have our inverse head and shoulders, or Sheikh, setup....
27Jan12:49 pmEST
Stillness in a Winter Storm
With the U.S. Dollar finally coming in a bit today, gold and silver are consolidating recent gains quite orderly and in am impressive manner. On the below 30-minute timeframes of GLD and SLV, ETFs for gold and silver, respectively, note the benign sideways action in recent session as the precious metals miners took the baton and ran with the...
27Jan11:26 amEST
The Next Battle Setting Up
The top two components in the SMH, ETF for the semiconductors, are INTC and TSM. TSM has been holding up remarkably well, but INTC, seen on the first daily chart, below, is busting down through a well-defined support level (lower light blue line). If I start to see TSM crack a bit, SOXS is on my radar as a long idea. SOXS is the triple-short...
27Jan10:26 amEST
A is for Alpha, That's Good Enough for Me
Thus far in 2015, tactically going long the precious metals and miners while shorting select equities has proved quite fruitful for me, allowing me to sidestep drawdowns while capturing plenty of "alpha" along the way. And that remains the case this morning, with my SDS SLW longs benefitting from the character change I suspect the market is...
26Jan4:32 pmEST
Stock Market Recap 01/26/15 {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...
26Jan2:48 pmEST
Back in a Classy Silver Play; Chess Moves
I just went long SLW at $23.36 with a stop-loss below $21.80. This position equates to roughly 4% of my trading portfolio capital. I am playing this premier silver miner to continue to upside. I had previously traded SLW as it tried to emerge from the highlighted inverse head and shoulders bottom, seen on the daily chart, below. Miners have,...
26Jan1:38 pmEST
From Russia with Head Fakes
In light of S&P cutting Russia to "Junk," and the Russian Ruble plunging to six-week lows (read full text and see full story here ) the RSX, country ETF for Russia, is giving up its apparent upside breakout last week. I had been looking to swing short Russia via a long RUSS (triple-short Russia ETF) position, but elected not to hold it...
26Jan12:31 pmEST
A High Noon Look at the Market
The market is slowing down a bit today, as we could easily see a pause in front of the FOMC Announcement later this week. On the 30-minute chart for the SPY, ETF of the S&P 500 Index, note the support trendline (light blue) is still broken from Friday, which has me still in my SDS long as a way of shorting the S&P. Until that is recaptured I...
26Jan11:28 amEST
A Good Place to Look for Pyramids
That 20-day simple moving average (orange line, below) on the following GDXJ daily chart is a logical place to look to see if aggressive bulls will "pyramid" into their positions, or add into them. The GDXJ is the ETF for the junior gold miners, which are typically an excellent gauge of risk appetite in the precious metals and miners complex,...
26Jan10:25 amEST
Reading the Morning Tape
The market fought back from its losses in the futures last night. But, as I write this, we are in the red as far as the major indices are concerned. However, beyond my SDS long (meaning I am long the ultra-short S&P 500 Index ETF), it remains a tough environment for macro bears unless and until biotechnology stocks give up the ghost. On the...
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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.
