A Little Waterfall After a Long Journey

01Feb3:44 pmEST

For Old Time's Sake, Let's Make it a Blockbuster Night

Between AAPL, AMZN, GOOGL, V, AMGN, and others, tonight is a full slate of blockbuster earnings which could easily add even more whipsaws to the ones we saw in the tape during today's session. I remain hedged inside Market Chess Subscription Services, with a few index shorts balancing out the rather tedious intraday fades and whipping around I...

01Feb1:25 pmEST

I Told You: I Ain't Got No Agua

I ain't got no agua , but I might have some other beverages from Mexico. Mexico, using the EWW country ETF as a proxy, below on its daily chart, has taken a backseat to the strength in emerging markets of late. To be sure, a tough-talking Trump has probably not helped the cause either, in terms of throwing cold water on investor sentiment as...

01Feb10:47 amEST

Have a Look at the Arena Before You Step Into the Super Bowl Dome

Arena Pharmaceuticals, Inc., a biotech with about a $1.5 billion market cap, has been consistently exuding relative strength in recent sessions amid a market full of whipsaws. Typically, we would expect a high beta biotech like ARNA to get hit worse than most during market dips or corrections, through no fault of its own since it is, after all,...

31Jan3:46 pmEST

Stock Market Recap 01/31/18 {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...

31Jan3:43 pmEST

Bitcoin Has 91 Problems But a Split Ain't One

After a run-of-the-mill 91-for-1 stock split took effect on Monday for the Bitcoin Investment Trust (GBTC, below on the its daily timeframe), an initial bounce ensued. However, that bounce is obviously long gone, as GBTC threatens to break down from what initially appeared to be a fairly standard consolidation pattern, highlighted in light...

31Jan1:09 pmEST

A Cliffhanger as the Yellen Era Ends

Janet Yellen, love or hate her policies, certainly will be remembered for being one of the more versatile Fed Chairs, probably through no fault of her own in terms of dealing with a changing global economic landscape compared to the Bernanke years. Either way, later this afternoon she will conduct her last policy meeting as head of the...

31Jan10:30 amEST

Adding a Little Spice

The major averages had mostly been in such benign melt-ups for a while there that it was more fruitful to look below the surface at sector rotations than it was to overanalyze specific price levels on the indices. However, recent volatility seems to have added a little spice into the mix regarding those index charts, making it more worthwhile...

30Jan4:38 pmEST

Stock Market Recap 01/30/18 {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...

30Jan3:51 pmEST

Another Wynn Update Into the Bell

They are not just lines of charts, since the market is telling us they are important (provided that we stay objective when we draw them). In the case of WYNN, the stock is getting its first real bounce today since the Steve Wynn news hit last week, and it is bouncing at a major, not minor, level. We looked at the $160-$162 area previously as...

30Jan1:17 pmEST

A Little Waterfall After a Long Journey

The Dow is off by nearly four hundred points as I write this, a seemingly jaw-dropping number if you have been trading for more than a decade until you realize on a percentage basis it is barely off by 1.5%. On that note, this little waterfall action is simply part of the game and should be accepted as such, even though the recent melt-up...