MarketChess
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03Mar2:34 pmEST
The Fight is On
It may very well be the case that was spooked markets most today was the inability of the Nasdaq and growth stocks at-large to bounce in sympathy with the intraday relief in TLT earlier in the session. Instead, QQQ slumped to fresh session lows. And as we wok through the final ninety minutes of the session the Dow is now flipping red, erasing...
03Mar10:54 amEST
A Get Out of Jail Free Card
The Nasdaq is back to trading lower in lockstep, or so it seems, with prices on the 10-Year Note as rates push higher yet again this morning. Just as it seemed as though we would waterfall lower, a rumor apparently hit the tape that Powell may announce some form of Yield Curve Control tomorrow. My best guess is that the Fed is simply putting...
02Mar4:26 pmEST
Stock Market Recap 03/02/21 {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...
02Mar11:02 amEST
GameStop: Not Again!
Equities have the look and feel of digesting yesterday's explosive rally on the back off a sloppy end to the month of February. A settling down process now would be fine by me, though bulls probably do not want to see the S&P 500 Index back under 3,850 anytime soon or else risk a full giveback. In the meantime, we have some intriguing sectors...
01Mar11:02 amEST
In Like a Lion; Or Kruger National Park for That Matter
"March comes in like a lion and goes out like a lamb." - Old Weather Lore Consistent with this market's recent history, the sloppy and seemingly ominous close to the month of February for equities has led to another apparent and vicious squeeze higher to kick off the new month. There are some near-term hurdles to decisively clear in order to...
28Feb9:16 amEST
Special Edition: Full-Length Weekend Strategy Session 02/28/21 {Video}
For this weekend only, I am opening up the full-length Weekend Video Strategy Session to everyone. Each weekend, I present a similar video to the one below for Members of the Market Chess Subscription Services. Please click here for details about joining at a reasonable price to receive these types of videos, as well as plenty of other...
26Feb11:21 amEST
It's All Lined Up
We have a choppy Friday morning session playing out as we speak, with the Nasdaq giving a wobbly effort so far to stabilize amid a bounce in Treasuries (meaning rates are taking breather from spiking). Interestingly, as we noted with Members earlier, some pretty important near-term price levels as being probed across a variety of markets. TLT...
25Feb3:44 pmEST
Show a Little Respect
In the 1990s, Democratic political adviser James Carville said: “I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody.” ( source ). The younger generation of market players likely...
25Feb11:14 amEST
Would You Please Pass the Jelly?
With the yield on the 10-Year Note currently competing with the average dividend yield of the S&P 500, non-extended consumer staple names like KHC MO PM seem to be more attractive by the day. In addition, Smucker, below on its monthly chart coiled as can be, is another attractive staple yielding more than 3% who just beat earnings and raised...
24Feb10:31 amEST
Tina Shopped at Costco Quite a Bit the Last Ten Years
Although we typically think of names like the "FANG" leading stocks, plus AAPL MSFT TSLA, among others, when it comes to the "TINA" acronym (which stands for There Is No Alternative {to stocks}), Costco certainly falls under that umbrella, too. With a rich valuation and an abnormally-steep multi-year rally, seen below on the updated quarterly...
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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.
