Stock Market Recap 03/10/15 {Video}

12Mar10:58 amEST

A Clear Setup for the Underwater Names

With the U.S. Dollar finally pausing, at least thus far this morning, I am keeping an eye out for silver. We know silver has been dreadful over the last six weeks especially. But it may be ripe for a quick bounce trade on the long side. On the daily chart for the silver ETF, below, note yesterday's "hammer" upside reversal candlestick (it...

11Mar4:57 pmEST

Stock Market Recap 03/11/15 {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...

11Mar3:34 pmEST

Going After Google; Chess Moves

I went short GOOGL at $557.15 with a cover-stop over $585. Playing for the right shoulder of a weekly topping pattern. This short position amounts to roughly 4% of my trading portfolio capital. The theory behind the trade is that Google has just staged a snapback rally after being a notable laggard for quite some time. This rally has excited...

11Mar3:02 pmEST

Down the Other Side of the Mountain

Headed into the final hour of trading today we can see the SPY, actively-traded ETF for the S&P 500 Index, below on the hourly timeframe illustrating that price "came around the mountain" back down to its lows from the second week in February, denoted by the horizontal light blue line. This has turned out to be the scene of a skirmish today,...

11Mar1:47 pmEST

I Think I Want My Money Back; Chess Moves

I covered more of my LVS short here, at $51.82, from my $55.34 entry to scale even more gains. As you know, I have been trimming this winner along the way, as it slides down. I now retain about 10% of my original position, letting ride, so to speak, to see if casinos truly do wipe out. My cover-stop is still at my entry...

11Mar1:04 pmEST

Drawing Up Some Afternoon Plans

I still retain half of my SRS long, which is the ultra-short ETF for the REITs, after taking partial gains earlier this week. On the first chart below, which is the daily timeframe for the IYR (straight-up ETF for the REITs), we could easily be seeing a bearish continuation pattern after it hit my initial target of the 100-day moving average....

11Mar11:58 amEST

It's All About Friday Night Now

Friday is going to be incredibly important this week, but not for social reasons. Instead, with the upside reversal we are seeing in the gold miners today, virtually across the board, we will need to see if the gold bugs can salvage a last-minute "save" at prior all-time lows we looked at on the GDXJ ETF yesterday. Updating that chart, below,...

11Mar11:11 amEST

The Reality of Competing Forces

Despite how many are trying to argue the correlation is historically not particularly important, the fact of the matter is that crude oil is weakening while the U.S. Dollar remains a runaway freight train. True, natural gas is in its own world and strong today as the likes of gold and crude threaten to break down yet. But regarding crude, if...

11Mar10:29 amEST

Half Off of the Big Cat; Chess Moves

I covered half of my CAT short here at $79.46 from the $83.03 entry a few weeks back I noted in this blog post, in order to scale gains. I trailed my stop down to my entry price. Caterpillar remains weak and is flirting with a multi-year breakdown below the $78-$80 area, which is an important level dating back nearly a decade. And as much as I...

10Mar4:39 pmEST

Stock Market Recap 03/10/15 {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...