MarketChess
Showing articles 5831 - 5840 (6599 total)
08Apr3:24 pmEST
Swimming the Channel
With the Dollar strengthening and crude oil not catching much of a bounce after the FOMC Minutes today, energy stocks may be setting up for another short. Heavyweights such as CVX XOM remains quite weak overall, though the bull case is that they are putting in a long, sloppy base bottom. Still, the XLE, ETF for the energy sector, shows an...
08Apr2:42 pmEST
Well Hello My Name is Simon, and I Like to Give Clues About Rates
Another trade which may be setting up is to go short Treasuries. To my eye, the rate-sensitive commercial real estate stocks, or REITs, will be a good clue as to whether that trade comes to fruition. On the daily chart for the IYR, sector ETF for the REITs, note how price has made a series of lower highs but higher lows (light blue lines) since...
08Apr1:33 pmEST
A Beautiful Flag Up Top
Despite the U.S. Dollar and crude oil rising in unison yesterday, I am still not quite prepared to fully believe that the inverse correlation between the two has reached its conclusion. In addition, commodities as a whole remain suspect to me for anything more than quick swing scalp attempts, be it my win in NUGT or loss in UGAZ, as recent...
08Apr12:12 pmEST
Stopped in Its Tracks
Here is an update to that ongoing hourly SPY chart we have been observing. On the zoomed-out look, below, note the $208.50 area acting as resistance of late, after buyers valiantly defended that area just above $204 again in recent weeks. The upper and lower light blue lines I have drawn denote as much. I suspect bulls are going to need to...
08Apr11:17 amEST
No Dice on This One; Chess Moves
Honoring my planned stop-loss, I sold my UGAZ long (levered long natural gas ETF) at $2.20 from my $2.42 entry for a loss. On the UNG ETF daily chart, below, the upside breakout to the highlighted (in light blue) wedge failed to sustain itself for a tradable leg higher. Yesterday's initial rally was promising, but sellers proved to be too much...
08Apr10:48 amEST
China Wearing That Game Face
With the FXI gapping much higher this morning, after several weeks prior of moving up, it is easy to say that the China country ETF is now overbought--And it is. But the monthly chart of one of the top components China Mobile, seen below, adds some perspective. You can see after the 2007/8 run-up and crash that we had a long period of "dead...
07Apr4:41 pmEST
Stock Market Recap 04/07/15 {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...
07Apr3:55 pmEST
Don't Like This Close For These Positions; Chess Moves
Into the bell I elected to sell my P long from earlier at $16.47 from my earlier $16.63 entry for a small loss, roughly 1%. I didn't see the action I wanted to after I bought to swing it overnight. I also sold the rest of my NUGT long at $10.87 from my $10.31 entry to lock in the rest of that win after scaling profits along the way...
07Apr3:22 pmEST
Crude Oil; Overbought in a Bear Market and What it Means
Keying off the USO ETF daily chart, below, as a rough poxy for crude oil we can see that black gold is now pushing its upper Bollinger Band after a multi-week rally. This circumstance typically means that oil is now short-term overbought. When combined with the fact that the longer-term moving averages (yellow and red lines, well above price,...
07Apr2:28 pmEST
Sounds Like a Bird
Here is a quick look at TWTR, the hot stock of the day with plenty of eyes on it and hands in it. On the 15-minute chart, below, $52.80 and then $53.28 look to be the next hurdles for buyers to clear above. Thus far, the intraday consolidation looks orderly without too much heavy selling, meaning buyers likely remain in control. Overall, the...
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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.
