A Lingering Appetite

14Jun3:37 pmEST

Does "Don't Fight the Fed" Only Apply When Bernanke Was Doing His Thing?

The Bernanke years as Fed Chair are beginning to fade away now, as Janet Yellen continues to slowly tighten. At one point, Dr. Bernanke could seemingly do no wrong in the eyes of markets, as his easy monetary policies made even Alan Greenspan blush. "Don't Fight the Fed," is an old Wall Street axiom considered perhaps too general but often...

14Jun1:22 pmEST

A Dovish Raise Looms

The Fed is expected to raise rates this afternoon, at the bottom of the hour to be precise. However, given that this FOMC will feature Fed Members' forecasts plus a Yellen presser, we could easily see plenty of dovish language to couch any rate hike, in effect keeping markets satiated. We have been tracking the rate-sensitive sectors of late,...

14Jun10:32 amEST

An Interesting Head Start

Amid a quiet open for most equities, it is interesting to say the least for Treasuries to gap up in front of the FOMC later today. On the TLT daily chart, below, with this ETF pushing up and off its 200-day moving average it would seem to price in the Fed not being particularly hawkish today, even if they do raise rates. Specifically, the...

13Jun3:52 pmEST

Stock Market Recap 06/13/17 {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...

13Jun3:49 pmEST

Gambling in Front of the FOMC

On an otherwise slow-bouncing market into the Fed fireworks tomorrow, with some distraction via the OMER TSLA rallies and the gold miner divergence we looked at earlier, we saw some intriguing sector rotation again below the surface. The casinos, and not just the major ones, are heating up. As an example, the "locals" Vegas casino operator,...

13Jun1:26 pmEST

Precious Screams for Pleasure or Pain

We are not likely to get any type of resolution in the precious metals and mining complex until after the FOMC tomorrow, if at all, to the now-glaring divergence between the weak silver metal versus the suddenly firm junior gold miners. But you can be sure we will be paying close attention to how the complex reacts to the Fed's decision,...

13Jun10:39 amEST

Outback: Australian for Relative Strength

Cheesecake Factory, Inc., is one of the more visible losers this morning, as the causal dining chain notorious for long wait times and heaping portions of high carbohydrate dishes updated poor guidance this morning. While CAKE is down more than 10% as I write this, we ought not throw the entire causal dining baby out with the tap water. ...

12Jun3:39 pmEST

Stock Market Recap 06/12/17 {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...

12Jun3:37 pmEST

OMER Took an Omertà

A little bit of a creative license taken with that blog post title on a slow, June afternoon does not change the fact that Omeros (first daily chart, below) is the visible winner in biotech today. Note the tight base breakout. Holding $17 now would be a very bullish development for the Seattle-based biopharmaceutical company. OMER is keeping...

12Jun1:41 pmEST

A Lingering Appetite

To revisit a working thesis we discussed previously, the notion that the transition from Obama to Trump would automatically mean a much more bearish stance on the firearms plays seems to be quietly under heavy scrutiny by the market right now. And rather than become redundant on the short-term rotation out of tech, it is all the more alluring...