More Musical Chairs

07Jun1:28 pmEST

No Dice

An ugly downside reaction to the weekly crude oil inventory report has apparently negated the bounce attempt energy stocks (and crude itself) tried to stage earlier this week. While the broad market is not swooning off the inventory move, the reality is that the energy sector continues to be a sore spot containing plenty of market cap, even if...

07Jun10:40 amEST

Pinball Game Action off Dave & Buster's

The rally in Dave & Buster's (PLAY) this morning after earnings stands in stark contrast to recent articles circulating about how millennials have effectively ruined casual dining. While it is certainly true that Dave & Buster's is a nontraditional casual diner, the reality is that when we look at, say, a Texas Roadhouse, below on the daily...

06Jun3:50 pmEST

Stock Market Recap 06/06/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening 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 If you enjoy my videos and blog posts, then please...

06Jun3:49 pmEST

A Soothing Picture Instead of Extremes

With the exception of a few notable monsters like LITE OCLR TSLA, upside momentum in this market is sputtering. While a leader like AAPL remains in contention as a long setup, the action during the final hour from the market at-large is enough for me to reduce risk a bit on the long side, though I do have some exposure on with profit cushion. ...

06Jun1:37 pmEST

Trading Biotech Not Such an Easy Company

Regarding the biotech trade in recent weeks (even months), our mantra inside Market Chess Subscription Services has been to be precise, given the many sloppy charts in the space. And that certainly still seems applicable, even with a name like REGN acting rather well of late and distinguishing itself from other large cap bios in the IBB ETF....

06Jun10:42 amEST

Gold Miners Going the Beetlejuice Route

It appears as though the gold miners are trying to say "200-day moving average" three separate times this year in order to get the "showtime" they crave in the form of a sustained breakout higher. Since bottoming in early-2016, gold bugs enjoy an exhilarating rally (indeed the strongest one since 2011) into the heart of last summer. Since...

05Jun3:46 pmEST

Stock Market Recap 06/05/17 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening 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 If you enjoy my videos and blog posts, then please...

05Jun3:43 pmEST

Bears Lost These to the Summer Wind

Today's trading sessions certainly seems to be sponsored by the summer, what with the drifting, unfocused price action at-large. However, the fact remains that monster winners like SQ PYPL are tipping their hands as to just how strong they truly are, even if they are too extended to chase right here, right now. Beyond that, leaders like TSLA...

05Jun1:45 pmEST

It's All About the Benioffs

Summer trading is in full effect today, with the indices meandering slightly above and below the flatline for much of the action thus far. Below the surface, leaders like TSLA are faring well, as dip-buyers have showing confidence to step into weakness. Small caps are giving back some of last week's gains. However, the pullback can best be...

05Jun10:34 amEST

More Musical Chairs

The market appeared to shrug off yet another terrorist attack in England over the weekend via a mixed open among the major averages this morning. Extended and potential new leaders like PYPL and SQ are green as I write this, but the gist of the action is some mild consolidation early on. That said, marquee Nasdaq leaders like FB and GOOGL,...