When Sunny Gets Blue

09Dec10:47 amEST

Searching for Direction

A sharp upside reversal off opening softness this morning sees the S&P 500 working through a well-defined range in recent sessions. On the updated 30-minute chart for the SPY, actively-traded ETF of the S&P, below, the light blue lines illustrate the pattern of lower highs but higher low, including this morning's bounce off the lower support...

08Dec10:05 pmEST

The Bright Gleam of Victory from the Kinder Morgan Dividend Cut

Kinder Morgan dramatically cut its dividend after the bell today, by 75% in fact , in a move which smacks of a firm in financial distress. Earlier today, we noted the stock was yielding more than 13%, rendering it either an irresistible bargain or, alternatively, a firm on the cusp of an imminent dividend cut. Clearly, we have our answer...

08Dec4:51 pmEST

Stock Market Recap 12/08/15 {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...

08Dec3:15 pmEST

The Allure of Catching the Falling Javelins

As tempting as it may be to fish out the mega-yielding MLPs (beyond crude oil, itself, of course), the reality is that it is likely best to wait for the HYG and JNK ETFs to at least stabilize. To be sure, the elements for a washout on a chart like the MLP, KMI, are present insofar as a steep price swoon to oversold after a prior downtrend,...

08Dec12:43 pmEST

Now That the Chipotle Jokes Are Out of Everyone's System...

After a soft open, followed by a spirited snapback rally, equities as a whole are drifting through the New York lunch hour. Crude oil is in the crosshairs for many bottom-fishing traders, as are energy stocks and MLPs, as a whole. However, I suspect another day or two of washing out lower would get us closer to a more textbook tradable bounce...

08Dec10:41 amEST

Unintended Consequences for Yield Hunters

The interesting part about economics is that you always must ask the question, "And then what happen next?" to paraphrase Warren Buffett. Applied to the market landscape we face presently, the reality is that many, many years of ZIRP and QE has seen, in effect, misallocations of capital which have ended poorly, even as the major indices have...

07Dec5:20 pmEST

Stock Market Recap 12/07/15 {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...

07Dec3:24 pmEST

Not Used to Seeing the Fangs Underwater

The FANG gang in the Nasdaq, the acronym for FB AMZN NFLX GOOGL, is under some pressure today. If bears are going to reverse this market lower into Christmas, it is likely that FANG will need to crack from what has been an incredibly resilient uptrend for all four leading issues. Netflix, in particular, has seemingly acquired an aura of...

07Dec12:42 pmEST

Stocking Up for Winter

The news flow clearly points towards the potential--or at least the perceived potential--for tighter nationwide firearms regulation in the coming months. While the debate rages on, firearms makers SWHC and RGR both surge higher today. SWHC had been a quality long setup last week, positively diverging from the market on Thursday. However, we...

07Dec10:21 amEST

When Sunny Gets Blue

What a difference a year makes. Last December 2014, we took a bullish view of the mid-cap biotechnology firm Bluebird, a fairly new issue at the time. The chart had set-up technically and looked ripe for breakout higher. While the velocity of the move higher certainly was a surprise, the bullish action was not. However, the steepness of the...