MarketChess
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25Nov4:52 pmEST
Stock Market Recap 11/25/14 {Video}
The following video contains coverage of relevant broad market issues, as well as plenty of actionable trading ideas across all asset classes. Enjoy tonight's video, and enjoy your evening. Direct Vimeo Link Click Here
25Nov2:55 pmEST
Silver Lining Up a Shot
Silver and the senior gold miners in the GDX ETF are outperforming the rest of the precious metals and miners complex today, as the metals and miners have quietly been consolidating their recent bounces off of prior lows. There is still, understandably, much negative sentiment out there for this complex still mired in a bear market. However,...
25Nov1:46 pmEST
Take a Break from the Ferguson Coverage for These Ideas
Hain Celestial Group is basing tightly with the context of its strong uptrend for a potential squeeze higher yet into the holidays. This is a solid company and still a viable takeover target. On the first daily chart, below, you can seed the sound consolidations. I see a move over $109.70 as being an actionable long entry with a stop under...
25Nov12:48 pmEST
Good Energy, Bad Energy
Although crude oil may still be bottoming here, it sure is a sloppy process and USO chart, second below on the daily timeframe for the crude ETF. You can see the weakness today, even though as I write this some latecomer shorts may be getting squeezed. Still, I am more inclined to return to natural gas as a long, which you can see on the first...
25Nov11:50 amEST
The Protective Gear is Back On
Ebola protective play/hazmat plays APT and LAKE are running today, with APT looking more actionable intraday. Intraday traders can look at them as day-trade long ideas, while I am considering swinging them if the action stays firm today. Elsewhere, my FB short is underwater about 2% and I may cut it, barring a fade today. My official stop is...
25Nov12:16 amEST
Late Night Strategy for Tuesday
With casual dining/fast food plays hot on Monday, RRGB is still on my radar as a short squeeze/low float long idea on any further strength. The first daily chart, below, shows a tight price consolidation after the stock's sharp rally off the October lows. And on the short side, if the market experiences some weakness I would consider NetSuite...
24Nov3:52 pmEST
Staged Holiday Trading
Today was pretty much scripted holiday trading, in terms of drifting indices with a bullish bent in the small and micro-cap stocks. I mentioned DGLY over the weekend as one of the better recent-IPO long setups at this juncture. And you can see on the weekly chart, below, there is potential for a breakout higher from consolidation. If the...
24Nov3:09 pmEST
Big Blue Still Stuck in the Blue Grotto
With rumors of Carl Icahn being involved in IBM dispelled this afternoon , "Big Blue" is still mired in a technically-damged chart. The daily timeframe, below, shows price fading today back below its 20-day simple moving average, a source of resistance since the stocks's earnings gap lower last month. Should IBM loses $160, I view this as an...
24Nov1:59 pmEST
Sunday Brunch Charts
CREE NILE are still short squeeze ideas on the long side if we see a holiday rally this year, on the first two daily charts below, respectively. And NFLX remains suspiciously weak, still a short idea. More ideas and strategy on the Weekend Market Film Session, out later today.
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“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.
