MarketChess
Showing articles 6331 - 6340 (6580 total)
02Jan3:43 pmEST
In with the New
The first trading session of 2015 started off with a bang, in the form of an opening pop from strong overnight futures. However, that bang turned into a fade, as many notable stocks suffered weakness and/or choppy action throughout the session. I put on a few shorts (GOOG LOW) and am long a silver miner (SLW), feeling out some potential big...
02Jan2:39 pmEST
We All Have it Coming, Kid; Chess Moves
I went short LOW, as per my earlier post today, at $67.65. The position is roughly 4% of trading capital, with a protective stop-loss above $69.70 (recent highs). LOW looks ripe to finish out this week with a week chart "shooting star" bearish reversal candlestick after prior steep uptrend, seen below on the weekly timeframe. My risk is...
02Jan1:45 pmEST
Going Short a Premier Name; Chess Moves
With today's weakness, I am picking on one of the premier issues in the Nasdaq and the entire market--Google. I went short GOOG at $524.41, playing for a breakdown to fresh 52-week lows. The position is roughly 4% of my trading capital, with a protective stop-loss above $540. In order for the short to work well, GOOG likely needs to lose $523,...
02Jan12:40 pmEST
Still Looking for the Duck of Death at Lowe's
It has been an incredible multi-year bull run for housing retail stocks, namely HD LOW SHW. Nonetheless, I still believe the likes of LOW (despite Gene Hackman, target="_blank">voice-over commercials ) is setting up as a short with meaningful downside in early-2105. Earnings for LOW are not until late-February, and the stock is...
02Jan11:15 amEST
Be a Leader; Chess Moves
I went long SLW, premier silver miner Silver Wheaton, at $20.69 just now, placing 4% of my trading portfolio capital in the name. My protective stop-loss is set below $19.80. I am impressed with the upside reversals in the precious metals and miners this morning, while equities in general have reversed lower. Metals and miners have been sloppy...
02Jan10:30 amEST
Starting the Year with Clarity
I am opening 2015 with a clean slate, having cut my trading positions last week for either small losses, small wins, or essentially scratch. This morning, we are looking at a gap higher which is fading a bit. AAPL is a drag on the Nasdaq, while recent breakouts like LOCK are under pressure. TSLA also looks to be rolling over here, while...
01Jan11:23 amEST
Bobby Knight on `The Power of Negative Thinking'
While it is true that it is usually best to distance yourself from constant whiners, complainers, finger-pointers, and generally overly-dramatic people, the great basketball coach Bobby Knight wrote a book not too long ago advocating the power of negative thinking to bring about positive results . Note how that last, underlined part stands...
31Dec3:10 pmEST
Reflecting on a Solid Year
On the whole, I am pleased with my trading this year. If you have been following my work, then you know that I have been more defensive - in my trading portfolio - than usual for a good while now, opting to take an opportunistic, hit-and-run style of trading in lieu of aggressively pushing all-in. Although the major averages are closing out...
31Dec2:08 pmEST
A Big Battle for the New Year
Within the consumer discretionary space we have a big battle brewing into 2015. On the one hand, casual dining and restaurant plays have largely been impressive to close out 2014. On the other hand, major casinos have noticeably been weak. Specifically, the charts of WYNN and DFRG illustrate these points, seen on their respective charts, below....
31Dec12:18 pmEST
Sailing Into 2015
NILE is a name we have been looking at on the long side since mid-November. The retail play could easily be ripe for a squeeze into next week, as it has been consolidating just under $37 for a good while now. On the updated daily chart, below, note the basing pattern (purple lines) under well-defined resistance (light blue line). The chart...
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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.
