Final Hour Chess Moves

26Mar4:31 pmEST

Stock Market Recap 03/26/15 {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...

26Mar3:51 pmEST

Adding Back to Volatility Into the Bell; Chess Moves

As a way to express the idea that the VIX likely goes to 20 soon, I added back to my UVXY long here at $15.83 from my $15.53 entry after previously scaling gains. I am playing for another volatility spike. The position is now back to full size. As I have stated before, UVXY is not for the faint of heart, being a levered long volatility ETF. So,...

26Mar3:17 pmEST

Final Hour Notes on a Slow Day

Apart from taking partial profits this morning in my UVXY long, I have not been trading much today as the market has been in a choppy range. Regarding specific setups ICPT sure is distinguishing itself, seen on the daily chart, first below. On strength and into a market rally this one would be worth watching as a long idea. Meanwhile, SNDK,...

26Mar2:28 pmEST

No So Invincible

While crude oil pushes higher, and now even energy stocks are flipping green, Russia is lagging those assets to which it is typically correlated. On the updated country ETF daily chart for Russia, below, note the threat of a breakdown from the highlighted wedge. For a while now, Russia, crude, and energy stocks have been tough to swing trade...

26Mar1:29 pmEST

A Look at Leadership

Despite FB trying to bounce back today from yesterday's selling, a lingering issue for this market near all-time highs is the weakness in TSLA, a clear momentum darling dating back to 2013 if not an outright "super stock." On the updated daily chart, below, note Tesla's continued corrective structure, with price operating well below longer-term...

26Mar12:37 pmEST

A Drive-Thru Setup

As I mentioned earlier today, CNAT off the gap higher in biotech land could be setting up for day-traders. On the 5-minute chart, below, a $6.90-$7.10 bracket may be appropriate in terms of triggering either a short or long setup intraday, respectively. The edge probably goes to bulls given the gap higher and fairly orderly consolidation off...

26Mar11:45 amEST

Sliding Into an Obvious Base

Both the QQQ and SPY, ETFs for the Nasdaq and S&P 500 indices, respectively, are sliding back down to their lows from mid-March. On their 30-minute charts, zoomed-out below, I would not be surprised to see an intraday bounce off these levels, given that we slid down here in a fairly straight line, which may be happening as we speak. However,...

26Mar10:47 amEST

Scale and Trail a Tough Trade; Chess Move

I just sold off another piece of my UVXY long at $16.25 from my posted $15.53 entry yesterday. After taking day-trade partial profits into the bell yesterday, I now am down to 1/3 the size of my original position now, and raised my stop-loss to my entry price to prevent a winner turning into a loser. Going long volatility is always a...

25Mar4:46 pmEST

Stock Market Recap 03/25/15 {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...

25Mar3:26 pmEST

Final Hour Chess Moves

Here are two quick final hour trades to post. I sold a small piece of FAZ long here at $12.51 from $11.97 entry yesterday. I am now down to 1/2 position of the original, letting it ride with the financials still weakening here. I also sold my $JNUG long at $22.11 from $22.16 entry on Monday for a few pennies loss. I did not see much movement...