MarketChess
Showing articles 6421 - 6430 (6580 total)
12Dec3:30 pmEST
Rain is a Good Thing; Chess Moves
As per the bullish setup I posted the other day on Stocktwits, I went long CORN at $27.25 just now, placing 4% of my trading portfolio capital in the position. My stop-loss would be if we see a close under $26. Back in a bit with the chart update.
12Dec1:52 pmEST
Update on a Chess Piece
I am still short the mega rail UNP, representing about 6% of my trading portfolio capital. I have cushion on my initial entry, above $118. On the updated daily chart, below, you can see the rail flipping back to nearly flat after a bounce at the open. I am sticking with the short because I view the highlighted consolidation as being a "bear...
12Dec12:46 pmEST
Two Charts Which Are Taking the Stairs Up
The silver ETF, seen on the first daily chart below, has quietly been outperforming the rest of the precious metals and miners complex in recent session. The highlighted consolidation pattern is a tight one, and I would be looking for a move over $16.50 to set in motion another playable leg higher. Silver bulls would not want to see $16 lost...
12Dec11:54 amEST
Big Blue Dinosaur Close to Extinction
The major topping pattern on IBM, seen below on the monthly chart, continues to assert itself. "Big Blue" is a huge weighting in the Dow Jones Industrial Average, and you can see the highlighted head and shoulders top already confirmed. I have a target of $130 and maintain it, as value investors from higher levels are trapped. Below $160, and...
12Dec12:28 amEST
Late Night Strategy for Friday
In addition to casual dining plays like RRGB TXRH, in the software space keep an eye on RUBI as another long idea on strength. If the IPO from last April can clear $15, seen on the first daily chart below, combined with a broad market which cooperates, I would look for a breakout higher. But if we see broad market downside follow-through to...
11Dec4:49 pmEST
Stock Market Recap 12/11/14 {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...
11Dec3:48 pmEST
Dramatic Reenactment of Oil Men Being Humbled
"After all these years, I finally whipped J.R. Ewing." More in my video market recap after the bell. See you there.
11Dec2:30 pmEST
The Endgame for Oil Wars
While equities are still largely bouncing this afternoon, even if quite a few parts of the market are off their highs, crude oil remains in search of a bottom. On the monthly chart for crude futures, below, note the significance of the $60 level, going back many years. Of course, we have to then go to the next level of thinking, considering...
11Dec1:10 pmEST
Separating Illusion from Reality
The zoomed-out 30-minute chart for the Russell 2000 Index ETF, below, pretty much illustrates the wild swings (or "violent indecision" on the part of market players) we have seed in the tape for a good while now. Eventually, the marker will distinguish the illusion from reality, in terms of whether we are topping or instead gearing up for an...
11Dec11:16 amEST
Bringing Home the Bacon with These Two Ideas
I am skeptical of the market bounce so far, as it has the hallmarks of a temporary relief rally. The Russell 2000 Index closing over 1,190 would change that thesis to be more bullish, though. In the meantime, if the market rally continues I still have my eye on RRGB, one of the better casual dining long setups. On the first daily chart, below,...
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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.
