MarketChess

10Nov11:13 amEST

Weekend Overview and Analysis 11/10/24 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend 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.  Please click here  for more...

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07Nov3:41 pmEST

Back in the Metals, Planning to Add

To keep things actionable around here, precious metals and derivative miners seem to be finding a bid after their recent harsh shakeouts. Fed Chair Powell's presser today featured more of the same from him, downplaying inflation risks and severely disrespecting the possibility of the dreaded stagflationary environment like the 1970s, with...

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06Nov2:27 pmEST

I Bet You Wish You Had a Whirlpool Now

We have tons of violent moves across asset classes today on the back of the Trump victory overnight. However, I maintain my view that the bond market selloff, especially on the long end of the curve, will only prove more significant (and more menacing) over time--Case in point, we have the IYR getting pounded today amid the explosive overall...

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05Nov3:08 pmEST

Election

Election Day is understandably front and center today and of late, even when it comes to markets and interpreting the various moves by markets (in this case, the frequent rallies) as being politically-motivated.  Still, I keep returning to the fact that we have an overlooked FOMC later this week, with the decision released on Thursday...

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04Nov3:15 pmEST

A Big Hurdle to Clear, But Well Worth It

With everything going on this week it is going to be easy to overlook potential false breakdowns in both oil and natural gas, respectively below on their ETF's daily charts. As you can see both oil and natty have been abysmal in recent weeks. But today natty is rallying nicely while oil is continuing to climb since finding buyers late last...

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01Nov3:25 pmEST

Afternoon Update 11/01/24 {Video}

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31Oct2:02 pmEST

Leaving Las Vegas Without Spending So Much

Casino operator MGM is being sold aggressively today despite trying to sound optimistic on its earnings call after reporting record net revenue, pointing to long-term opportunities in China, Japan, and online with BetMGM.  Be that as it may, the firm missed on bottom line earnings and is being punished in kind by the market.   For our purposes,...

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30Oct12:39 pmEST

SMCI: There's Never Just One Cucaracha

"We are in the golden age of fraud" -Jim Chanos ( See Also Here ) Shares of the once red-hot hardware AI play Super Micro Computer ( SMCI ) are down by about a third of their value today as the lead auditor of the company, Ernst & Young LLP, resigned as its registered public accounting firm. The inference many are drawing is one of...

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29Oct3:31 pmEST

The Three Amigos the Next Three Days

I see rates are softening this afternoon after another recent push higher. Be that as it may, we have the full gauntlet of major earnings coming the next three evenings, starting with GOOGL tonight.  On the GOOGL MSFT AMZN (each successively reporting the next three nights) weekly charts, below, I am still looking for the law of large numbers...

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28Oct12:26 pmEST

Oil Bulls Are Captured Cowboys These Days

We are stuck in this moment now where select commodities like the precious metals and uranium/nuclear names are soundly outperforming. Meanwhile, oil is being held hostage by careful saber-rattling in the Middle East which never seems to fully escalate into a winner-take-all conflict. As a result, each time there is not an ugly escalation on...

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