Hot Sector Update 10/04/19 {Video}

14Oct10:46 amEST

Tesla's Chart on Autopilot

It has been a while since we checked in on shares of Tesla, Inc. Elon Musk's idiosyncrasies notwithstanding, the long-term chart for TSLA is actually rather anti-climactic in its action in recent quarters. On the first monthly chart, below, we can see as much, with corrections below $200 finding buyers for years now. On the other hand, rallies...

11Oct11:37 amEST

The Energy/Materials Bear Market is Dead; Long Live the Commodity Bear

It is hard to fathom that Exxon-Mobil, a Dow component with a $293 billion market cap, is trading at a level now that it was during the depths of the 2008 bear market. But that is where we are, not just with XOM, of course, but looking across the entire energy complex (OIH, XLE, XOP ETFs) as well as most miners/materials, precious and otherwise...

10Oct11:02 amEST

A Good Show at PNC

Wild overnight action is giving way to a relatively smooth cash open this morning for bulls. At one point last evening, as news hit of China planning on leaving early with no trade deal in place, it seemed like we could have some type of variation the limit-down BREXIT or 2016 General Election drama we saw in the futures back then. Instead,...

09Oct3:32 pmEST

We're All Just One Trade Deal Rumor Away from Humility, Bud

Semiconductors continue to impress this afternoon, as we can see how strong the group is capable of trading when we have positive China trade rumors. Of course, any moment now we could get hit with an abrupt turn of events to the negative side, which would likely hit chips hard given their inherent exposure to China in many instances. In these...

09Oct11:05 amEST

Eventually We Need the Real Deal

A more positive spin on the China trade war saga unfolded overnight, with hope for at least a partial deal sending futures higher which is spilling over into the cash session this morning. While I did not sell out of any longs into yesterday afternoon's final hour swoon, I also have been reticent to chase up bounces like this morning's. In...

08Oct5:24 pmEST

Stock Market Recap 10/08/19 {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...

08Oct10:56 amEST

The Great Wall of Headlines

The ongoing sensitivity to the U.S./China trade war discussions is back on full display this morning, with an opening gap lower undoing the last few days of bouncing on some of the major indices. While the Dow, S&P, Nasdaq, and small caps are all above last Thursday's lows as I write this, it would behoove bulls to step back in sooner than...

07Oct5:59 pmEST

Stock Market Recap 10/07/19 {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...

07Oct10:54 amEST

In Need of an Oil Change This Fall

Although not perfectly correlated, it sure seems as though U.S. equities largely begin to act in trepidation with each swoon in crude oil. Gauging the USO, ETF for "black gold," below on the daily timeframe, we can see a reasonable correlation in recent months with equites in terms of each period where volatility increased in stocks with abrupt...