Miners: For Sale But Keep Out

14Sep3:41 pmEST

More Like Wells "Fargo," Am I Right?

Through no fault of its own, shares of Wells Fargo are getting pulled into the wood chipper (the disturbing scene from the great film here , for reference). Given Mr. Buffett's self-proclaimed ruthlessness for anyone who dare undermine the integrity or reputation of Berkshire, I wonder how he will react to WFC's apparent betrayal of customer...

14Sep1:13 pmEST

Organized Chaos

Stocks are still sporting a mild bounce into the early-afternoon portion of the session. It sure seems obvious that the S&P 500 is forming a double-bottom, seen the 30-minute chart of the SPY, below. However, the concern would be that it may be too obvious, with too many eyeballs on it and not enough traders positioned for further downside. So...

14Sep10:44 amEST

Formulate a Battle Plan for This Sector

Bulls still have more work to do to prove that equities have, by and large, concluded their recent pullback. 2120 on the S&P 500 Index is now a fairly obvious level of support which held, once again, this morning off an initial fade. As I write this, I see we are gaining steam to the upside but having some initial issues at 2140. Crude oil is...

13Sep3:44 pmEST

Stock Market Recap 09/13/16 {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...

13Sep3:43 pmEST

It's Been a Lonely, Dark Road

There is no question since the ephemeral Brexit spike in the VIX that volatility took a prolonged summer vacation, with the VIX derivative ETFs seemingly on a daily mission to eviscerate volatility longs. Indeed, it has been a lonely, dark road for volatility bulls since July. However, since last Friday's abrupt selloff in the market the VIX...

13Sep1:21 pmEST

Singing the Same Tune

With Treasuries taking it on the chin yet again today, the link between some of the sectors famous for paying out hefty dividends and TLT is on full display. Specifically, note the uncanny resemblance between the TLT and XLP daily charts, below. XLP is the ETF for the highly defensive consumer staples, such as KMB KO. The two daily charts are...

13Sep10:49 amEST

Slim Pickings, So Head to the Casino Buffet

While it is true that quite a few names are holding up reasonably well into this market pullback, given the sudden reappearance of overnight risk and volatility it is tough to argue that merely "holding up well" equates to an urgent need to go long imminently. Instead, we are simply monitoring several relative strength names for Members, which...

12Sep3:26 pmEST

Stock Market Recap 09/12/16 {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...

12Sep3:22 pmEST

A Big Catch Still May Mean Big Risk

The interesting aspect about today's abrupt and sizable rally to counter Friday's sharp sell-off is the likely finished product on the S&P 500 Index daily. I will follow-up on this point in detail for Members in the full video tonight. However, there is little doubt that we are no longer seeing the quiet, boring sessions on the indices which...

12Sep1:19 pmEST

Miners: For Sale But Keep Out

Precious metals and miners are coming off a disappointing Friday session where they could have easily benefited from a safe-haven bid as equities were rocked with the heaviest selling in months. Instead, miners themselves took it on the chin and are merely searching for stabilization as the moment. GDX, the ETF for senior miners, is flirting...