MarketChess
Showing articles 5951 - 5960 (6612 total)
20Mar2:05 pmEST
Making Sense of the Battles
Along with equities rising and stealing the headlines, commodities look to be turning in a solid week overall, namely gold and especially silver. Even copper, however, participated in the post-FOMC rally, along with some softs such as corn, coffee, and wheat. At issue is whether any type of commodity trade has legs in the coming weeks, or...
20Mar1:08 pmEST
A Proper Level
I sold another piece of NUGT long at $11.29 from my $10.25 entry and am now down to roughly 1/3 position of original size now. I also moved up my stop to my entry. Regarding crude oil, and keying off the USO ETF, first below, I am watching the $16.80 above to see whether black gold can sustain more than just a temporary pop into next week. ...
20Mar11:43 amEST
Mixed Trades; Chess Moves
A winner and a loser here. I sold half of my JO coffee long above $25.20 earlier from my $24.07 to lock in partial gains, trailing my stop to entry on the final half of the position. And I covered my HD short for a loss at $117.66 from my $113.85 for a contained loss. Shorting the steep trends like HD LOW SHW continues to be fruitless. But as...
20Mar11:04 amEST
Assessing the Eruption
Biotechnology stocks erupted again this morning, with large cap biotech Biogen, seen below on a 15-minute timeframe leading the charge. As we all know by now, biotechs have been like a volcano erupting frequently for many years now. At issue is whether one of these eruptions is an intermediate-term blow-off event, leading to a correction. In...
20Mar10:20 amEST
Locking in Methodical Gains; Chess Moves
I just sold half of my NUGT long just now at $11.04 from my $10.25 entry earlier this week noted in this blog post . My stop-loss is still below $9.75. After a pause yesterday, miners are pushing higher along with equites in general this morning. There might be some more juice left in the tank, but the volatility in the metals and mining...
19Mar4:26 pmEST
Stock Market Recap 03/19/15 {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...
19Mar3:36 pmEST
Betting on an Imminent Squeeze; Chess Moves
As a follow-up to my last post regarding the biotechnology stocks, I just went long INSY at $60.99 with a stop-loss below $56.50. I am playing for am imminent breakout higher in this extremely heavily-shorted bio. On the daily chart, below, note the basing formation in an established prior uptrend. If biotechs continue to enjoy this upside...
19Mar3:11 pmEST
Tekmira Studying Up for the Big 21 Test
TKMR is another biotechnology stock worth keeping on the long radar if we continue to see the sector in general keep melting higher. This one has Ebola exposure, which enabled it to enjoy a few pops in 2014 during that Ebola run-up. But fundamental or news-related reasons aside, the stock is still sporting a very bullish buy volume pattern,...
19Mar2:18 pmEST
Wynn Selling May Be a Bit XS
As I mentioned earlier, WYNN may finally be ripe for a tradable bounce. The stock is up nicely today, and the issue is whether there is juice left in the tank. On the monthly chart, below, we can see about a 50% decline off the early-2014 highs, taking price back below its primary long-term breakout (horizontal light blue line). A check-back...
19Mar12:44 pmEST
So Tesla Wants to Take a Drive in New Jersey, Eh?
News of New Jersey reversing its ban on Tesla's direct auto sales appeared to be bullish for the stock this morning. But now TSLA is fading a bit at a critical reference point, the 50-day moving average, seen below in dark blue on the zoomed-out daily chart. While it is not popular to point out, the fact of the matter is that TSLA remains...
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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.
