MarketChess
Showing articles 5951 - 5960 (6599 total)
18Mar3:44 pmEST
A Day of Inter-Market Confrontations
As we head into the bell of an exhilarating upside reversal, what strikes me most is the movement across many asset classes today, beyond the usual Fed Day action. The Dollar, Euro, crude, metals, and other markets are worth of a discussion in my video market recap after the bell. In addition, as @StuOnGold mentioned to me on Twitter, the high...
18Mar3:11 pmEST
Probing the Reaction with Patience; Chess Moves
I just went long NUGT at $10.25 with a protective stop-loss below $9.75, playing the gold miners via this triple-long ETF (derived from the GDX ETF) for a rally. Playing the initial reaction to a major "Fed Day" can always be tricky. But so far it looks as though the Dollar's weakness is leading to strength in commodities. To be sure, gold...
18Mar2:20 pmEST
The First Move After the Fed
Commodities are displaying impressive initial strength after the Fed announcement, along with equities. Silver, gold, crude, and even corn have my eye for fresh longs here, along with the precious metals miners. Volatility is getting pounded and the indices are rallying, which is why I have kept my shorting tactical and specific to individual...
18Mar1:48 pmEST
Shedding Some Light on This House
As a follow-up to my last post, where I announced a new HD short, here is that Home Depot zoomed-out daily chart. Note that the stock has seen no 200-day moving average (yellow line) test by price since last summer. With peers LOW SHW flashing notable weakness today in front of the Fed, I suspect that the Depot will follow suit. As we know,...
18Mar12:54 pmEST
The Triumvirate of Steep Trends; Chess Moves
I just went short Home Depot (HD) at $113.85 with a cover-stop above $118, playing for the long-term steep trend to finally crack. Today, peers LOW and SHW, comprising the three-headed monster or triumvirate of very steep long-term winners in the housing retail space, are showing notable weakness after their latest post-earnings pushes higher. ...
18Mar11:43 amEST
Another Natural Gas Incident
The 30-minute chart, presented below, for the UNG ETF for natural gas shows the $14.53 level as being important resistance above for bulls to crack. If they do crack it, I have UGAZ on my radar for at least a day-trade long idea.
18Mar10:55 amEST
Let's See if It's in the Cards
The credit cards, that is. My Visa short, seen below on the daily timeframe, is off to a solid start, as the highlighted bear flag looks to be breaking below. I will consider an add if the weakness holds after the Fed events later today. As for the broad market, we are seeing some mild weakness, with names like BABA GPRO failing to stage...
17Mar4:27 pmEST
Stock Market Recap 03/17/15 {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...
17Mar3:52 pmEST
Toughness on the Irish Holiday; Chess Moves
I decided to cut my GPRO long at $40.60 from the $41.01 entry this morning for the 1% loss, rather than swinging it. GPRO is still in a fierce downtrend and I am going to stick to my discipline of not swinging it without at least some profit cushion. I took profits in most of my GOGO long today for a nice win, and will let a final small piece...
17Mar3:05 pmEST
One Word for New Ideas: Plastic
I am already short AXP and V. And I continue to see setups on the short side emerge in the credit card space. If you have followed my work for a while, then you know back in 2010-2011 I wrote up the bullish prospects for major credit card players as long-term plays, such as DFS and MA, based on their multi-year coiling chart patterns. And now...
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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.
