MarketChess
Showing articles 4871 - 4880 (6634 total)
19Feb2:43 pmEST
A Benign Grind of a Day...Or is It?
The action for much of today smack of a resilient yet grinding market, in light of the bouncing earlier in the week. The VIX has been steadily weak all day, despite red crude and a green Yen, which is not making life easy for shorts pressing for an imminent market rollover. However, the VXX, VIX ETF, below on the daily chart, spiked up just...
19Feb12:49 pmEST
The Overbought in a Downtrend Setup
Chipotle Mexican Grill represents the type of setup which "should" work on the short side again, as it is overbought (upper Bollinger Band) in a clear, ongoing downtrend (declining longer-term moving averages). Still, if the setup is too easy for bears, as it may have been this morning with the indices, then perhaps it will simply continue to...
19Feb11:02 amEST
Docked at This Level
Opening weakness in equites has largely abated through mid-morning, as bulls defended the 20-day simple moving averages across the major index charts. On the QQQ, below, for example, the ETF of the Nasdaq-100 stocks shows a reversal to green off a red open right at the orange line, which is the 20-day moving average. It is unlikely that bears...
18Feb5:11 pmEST
Stock Market Recap 02/18/16 {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...
18Feb3:31 pmEST
Time to Revisit Some Basic Philosophy of Gold
There is no denying the persistent strength in "the color," with the miners shaking off some earnings misses today ad mostly up nicely. GFI, a laggard, is coming back here and on track to close over its 20-day moving average, despite a huge gap down. We are taking things one step at a time, but the action is improving noticeably in the...
18Feb12:45 pmEST
Afternoon Battle Plans
Bears had a chance to really wreak havoc on the market with a thrust lower at about 11am EST this morning. However, buyers stepped in for damage control, and we are grinding through the New York lunch hour as we speak. On the intraday chart of the SPY, ETF for the S&P 500 Index, below, we are keying off the $192.50 level as being a significant...
18Feb10:50 amEST
Escape the Perceived Food Chain
After a slew of earnings reports this week by precious metals miners, most are holding up fairly well. GFI gapped down over 13%, but the likes of ABX flipped red-to-green this morning, seen below on the daily chart flagging well over a confirmed inverse head and shoulders bottom. In light of getting pounded to one new low after the next since...
17Feb5:09 pmEST
Stock Market Recap 02/17/16 {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...
17Feb3:33 pmEST
Hold Your Fire!
With the third consecutive gap up in the market holding firm today, there are plenty of premature shorts no doubt starting to feel the heat. To be sure, shorting in any type of market amounts to "adult swim, in terms of the agility and discipline required to avoid getting whacked for a big loss. But beyond that, the rally in stocks seems to be...
17Feb12:49 pmEST
The Issue with Rallies in Downtrends
Bluebird Bio is a pretty good technical example of the trouble in playing stocks in downtrends. If you are buried long in the name from higher prices, say, above $60 or even $80, then of course all sizable rallies like the one we are seeing now will come as a relief. If you were pressing short "in the hole" at recent lows, then you needed to...
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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.
