MarketChess

15Jan11:55 amEST

About That Ubiquitous Bullish Homebuilder Thesis...

The sexy 2015 homebuilder bull thesis gained popularity early on this year. But I was never too keen on it. In several prior videos, I noted how the homebuilders themselves were suspect about holding breakouts. Furthermore, the housing derivative plays, such as retail giants HD LOW SHW, were long in the tooth after brilliant multi-year bull...

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15Jan11:31 amEST

Playing the Miners with Papa Smurf; Chess Moves

As opposed to my JNUG (triple-long ETF for the little junior gold miners) trade earlier this week, which I was fortunate to sell near the highs (thus far), I am upgrading in terms of size to Papa Smurf, or NUGT, which is the triple-long ETF for the senior gold miners. Specifically, I went long NUGT at $16.88 with a stop-loss below $16. This...

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15Jan10:49 amEST

These Are Funky Steps to Take Higher

If the precious metals and miners are indeed bottoming, then by definition they will have to keep plodding higher--taking the stairs up, if you will--each time it seems as though they are ripe to roll back over again. In order for me to get back into the likes of JNUG NUGT as levered long gold miner ETFs, for example, I want to continue to...

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14Jan5:23 pmEST

Stock Market Recap 01/14/15 {Video}

The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...

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14Jan3:40 pmEST

Lightening Up and a Portfolio Update; Chess Moves

I covered half of my UAL short at $62.72 from $65.13 entry noted here to lock in partial gains. I am moving my stop to my entry. I also decided to cover the rest of TSLA short at $191.22 from the $206.55 entry I noted here . I will revisit it soon but don't want to get caught in a squeeze. Crude oil and the market are bouncing this...

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14Jan2:23 pmEST

Kicking Half Off the Flight; Chess Moves

I just covered half of my AAL short at $48.94 from the $53.59 entry noted here . I moved my stop-loss to my entry price. This is more "scaling and trailing" winning positions, as is my style. I still believe the airlines have more downside. But given how volatile the market has been, and how resilient bulls could easily still be, I am going...

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14Jan1:37 pmEST

Chess Gives His Assessment of the Current Market Structure

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14Jan12:39 pmEST

More Scaling and Trailing Winners; Chess Moves

Picking off some quick wins here and there, I covered half of my Visa short just now at $254.84 from the $260.30 entry I noted in this blog post . I trailed down my stop to my entry price on the short. Visa is essentially back down its lower Bollinger Band and short-term oversold, which is why I am scaling some gains here. Overall, the...

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14Jan11:45 amEST

Probe the Prober; Chess Moves

A general rule in technical analysis is that the more times a well-defined price area or trend is probed, the more likely it is to eventually give way as that level inherently loses its luster. In many respects, it is a self-fufilling prophecy as many seem to be watching the same thing. So, it is a well-defined support trendline is lost, then...

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14Jan10:49 amEST

The Cult of Amazon Has Turned Into Shuffleboard Players in Boca Raton

The chart for Amazon.com has been the poster child for this market lackluster leadership of late, in terms of the marquee issues in the Nasdaq sporting their glaring underperformance. While it is certainly true that many healthcare and biotechnology issues have given a spirited effort to pick up the slack, in the end these marquee names (AMZN...

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