MarketChess
Showing articles 5881 - 5890 (6612 total)
01Apr2:38 pmEST
A Quick Southwest Flight Heading South; Chess Moves
I just went short LUV, Southwest Airlines, at $43.44 with a protective cover-stop above $45 on a closing basis. LUV has enjoyed a magnificent multi-year uptrend, unaffected by its steepness. But as the daily chart, below, indicates, the stock has gone sideways since late-January. Ultimately, for my short to work the stock likely needs to lose...
01Apr1:47 pmEST
More Intraday Action; Chess Moves
I just sold another piece of my long NUGT here at $10.81 from earlier $10.31 entry, in order to scale some fast intraday gains since my purchase earlier. I am now down to 1/2 size of original position, still with a stop-loss below $9.70. I also went long DWTI at $112.38 with a stop below $105 for a likely day-trade , shorting crude oil...
01Apr12:44 pmEST
Battlefield Tactics; Chess Moves
I just sold 1/3 of my earlier NUGT long here at $10.69 from earlier $10.31 entry. I am just taking some quick, partial gains for the sake of discipline in a fast-moving instrument. As for the overall trade setup, it is still very much intact. Specifically, the GDX, ETF for the senior gold miners, below on the daily chart, shows a potential...
01Apr11:56 amEST
Back in the Gold Game; Chess Moves
I went long NUGT at $10.31 with a protective stop-loss below $9.70. NUGT is the triple-long gold miner ETF. As I mentioned in my last blog post, gold miners are impressive today, including the likes of ABX. There re many potential double-bottoms in the space, to the point where I am taking a shot at another tradable bounce, of which there...
01Apr11:29 amEST
The Usual Response to a Waterfall
Into the opening weakness we are see dip-buyers give it their usual effort in pushing stocks as close to back to green as possible. Small caps bounce particularly hard off the morning thrust down, as they continue to outperform in many respects this year. Select issues, such as AYI JCP NDRM, are notably outperforming, essentially trading in...
01Apr10:41 amEST
Taking Partial Profits; Chess Moves
Into this morning weakness, I took partial profits in two of my bearish biotechnology positions. I sold half of my BIS long at $36.05 from my $34.11 entry posted yesterday, trailing up a mental stop-loss to my entry price to protect gains. I also covered half of my GILD short at $95.99 from my core $100.46 entry and 98.92 add, trailing...
31Mar4:25 pmEST
Stock Market Recap 03/31/15 {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...
31Mar3:29 pmEST
How Textbook is Too Textbook; Chess Moves
I went long BIS at $34.11 with a stop-loss below $32. BIS is the ultra-short ETF for the biotechnology sector. As we all know, shorting biotechs has been as tough as bet as it gets, with the resilience of the sector's bull run overpowering any apparent sign of an imminent correction. Still, the action in the major biotechs like CELG and GILD...
31Mar2:45 pmEST
Winners Stay Winners; Chess Moves
With today's market sluggishness, I am still not too keen on pressing longs here. As a result, I am focused on not letting winners turn into losers. I had previously scaled profits at higher levels in my JUNO and X longs. But with this afternoon's weakness I am electing to sell out of the remainder of both positions to protect wins on the...
31Mar2:00 pmEST
Betting on the Credit Card Thesis; Chess Moves
I went short MasterCard, MA, at $87.02 with a protective cover-stop above $93 on a closing basis. For a while now, I have been bearish on financials due to their underperformance and even the mighty credit card plays, despite how impressive their rallies have been on a multi-year basis. But with chinks in the armor seen in credit card plays...
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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.
