MarketChess
Showing articles 6321 - 6330 (6580 total)
05Jan3:39 pmEST
Playing Chicken with the Neckline
Coming up in my video market recap after the bell it is worth discussing major biotech GILD and how it outperformed today. On the updated daily chart, below, note the "throwback" to the busted neckline of a topping pattern. Bears made some progress today. But they almost assuredly must take down biotechs in order to really make headways for a...
05Jan3:09 pmEST
Back on the Bus; Chess Moves
With the GDX, senior gold miner ETF, back over its 50-day moving average to little fanfare today, I went long NUGT (the triple-long miner ETF) at $12.84. NUGT is a fast-moving instrument with tons of gaps and mind-numbing volatility. But I like the setup both technically, with the miners failing to break down to fresh bear market lows in recent...
05Jan1:11 pmEST
On the January Barometer
You are likely to hear more and more about the "January Barometer," which is a theory which hods that as January goes, so goes the year. Therefore, we are going to raise and discuss this issue now. The 2010 Stock Trader's Almanac states this theory is essentially 91% accurate, dating back to 1950, with only a few misses. Seasonality is...
05Jan12:19 pmEST
Russia Bears Watching Again with Oil Cascading
With crude oil cracking below $50, and energy stocks getting lit up, the Russia short is back on watch. RUSS is the triple-levered short ETF for the RSX. On the RSX daily chart, you can see a bearish pennant formed. The RSX is under $15, which means a breakdown is now on the table. Any further weakness likely sees an actionable short trigger...
05Jan11:22 amEST
A Fresh Trade; Chess Moves
I went short Visa at $260.30 just now, placing 4% of my trading portfolio capital into the name. I am playing for the rising channel, seen below on the daily chart, to resolve lower and break down. My cover-stop is above $270, in order to mitigate the risk in the trade. Major credit cards have been multi-year winners. I was wildly bullish,...
05Jan10:25 amEST
Starting to Come Together, Pepper
The thesis we looked at of late and over the weekend in my video Strategy Session is unfolding this morning, with precious metals and miners outperforming while equities slump. With respect to the precious metals and miners complex, silver and the junior gold miners are typically the two best gauges of risk appetite, or lack thereof. Here,...
04Jan2:34 pmEST
Weekend Market Film Session 01/04/15 {Video}
The following video contains coverage of the broad market, as well as tons of actionable trading ideas for equities and other markets regarding the coming week of 01/05/15-01/09/2015. Trade Well. Protect your portfolio at all times. -chessNwine Direct Vimeo Link Click Here
04Jan11:16 amEST
A Sunday Morning Sight to Ponder
I present the daily charts for recent-IPOs GPRO and BABA, respectively below, to illustrate how similar they look. Specifically, BABA looks just like GPRO did before a sharp breakdown in mid-December. Note the comparable descending triangles I have highlighted on each chart, with a series of lower swing highs (resistance, upper light blue...
03Jan1:42 pmEST
Saturday Night at Market Chess Cinemas
Odds Against Tomorrow (1959), starring Harry Belafonte, with Robert Ryan, Shelley Winters, Ed Begley, Gloria Grahame, is a rough and tumble film noir with sharp edges and stylish moments. Directed by Robert Wise, I consider this one of the best films that many have not seen, even those well-versed in the classics from the 1940s and 1950s....
03Jan12:25 pmEST
Sun Tzu and The Art of War
Here we have a History Channel documentary about Sun Tzu and The Art of War. Sun Tzu was the famous ancient Chinese military general, strategist and philosopher. Try to apply the strategic concepts discussed in the video, below, to trading and your approach to the markets.
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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.
