UVXY: You Ain't Got No Alibi

23Mar3:48 pmEST

What Size Market Pullback Would You Like?

I reckon bears will have them some of the bigguns. Today's market action was much more typical of a corrective tape, with cocky bulls early on cheering the morning bounce, followed by some abrupt selling in the afternoon and a fairly soft close. Bears still have plenty of work ahead of them, though, such as cracking IWM below $134 and seeing...

23Mar1:42 pmEST

Finally Ripe

After being the laughingstock of an underwhelming group of soft commodities, the mystical cocoa plant may finally be ripe to make some noise during the spring months. Using the thinly-traded ETN, NIB, below on the daily timeframe, as a rough proxy for the futures contracts, we can see cocoa putting in a more defined bottoming formation...

23Mar10:41 amEST

The Ones Which Hold on Are Keepers

La Jolla Pharmaceutical (LJPC) priced a 3.7 million common stock offering at $33.50/share this morning. But, as you can see below on the biopharmaceutical firm's daily chart, is the stock is absorbing the offering remarkably well. Generally, offerings are seen as dilutive to existing shares and thus short-term bearish. However, when a stock...

22Mar3:54 pmEST

Stock Market Recap 03/22/17 {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...

22Mar3:52 pmEST

They Still Allow Garden-Variety, Don't They?

While many market players and pundits seem to be quick to declare this market pullback or consolidation to be over, note the strongest index today, the Nasdaq, below on the ETF's daily chart, not even able to bounce up to the midpoint of yesterday's massive range. Bears will, of course, point to the small cap weakness. But even in terms of a...

22Mar1:24 pmEST

A Squeeze Play with Two Outs

From a contrarian perspective, it is interesting to see the timing of the new "Short Squeeze" ETF, SQZZ, open for trade today. First, some background, via BusinessWire.com ETF industry veteran Brad Lamensdorf launched today The Active Alts Contrarian ETF (NASDAQ: SQZZ), a first-of-its-kind actively managed ETF that seeks capital appreciation...

22Mar10:37 amEST

Intermission or the End?

After yesterday's violent reversal across the major averages for stocks, quite a few are already proclaiming the "pullback" to be over or near completion. A failed early bounce attempt this morning is not helping that thesis, with the small caps in the Russell 2000 Index most notably giving up the ghost. Another factor to consider in terms of...

21Mar3:42 pmEST

Stock Market Recap 03/21/17 {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...

21Mar3:34 pmEST

Nothing Like an Equities' Selloff to Send Gold Bugs Into a Frenzy

With GDX (senior gold miner ETF) breaking back over the key $23 level today as equities are selling off considerably, we now want to see if miners can clear their 50-day moving average (dark blue line, below on the daily chart) convincingly in order to set in motion a more sustainable rally. Also note that Silver Wheaton (SLW), a larger silver...

21Mar1:38 pmEST

UVXY: You Ain't Got No Alibi

Bears finally achieved some type of breakthrough today, with some of the heaviest selling equites have experienced in a good while taking hold after this morning's opening gap higher. The weakness in banks, namely BAC GS, remains apparent as I write this. Even though the weakness is being written off for political reasons, the reality is that...