MarketChess
Showing articles 6171 - 6180 (6636 total)
13Feb12:37 pmEST
Working a New Trade; Chess Moves
I just went long USLV, the triple-long silver ETF, at $24.49 with a protective stop-loss below $23. This is roughly a 4% position in my trading portfolio. As I discussed in my last blog post, silver is leading the charge higher in the precious metals and mining space today. Into the long holiday weekend, with markets closed on Monday for...
13Feb11:32 amEST
The Last Good Stand: Precious Metals and Miners
The breakout in silver this morning, highlighted on the daily chart ETF below, is just what the doctor ordered for gold bugs given the weak action following last Friday's jobs number. When we see the chart from a broad perspective, note that this recent low likely marks the last stand for bulls to try to enforce a major bottoming formation,...
13Feb10:38 amEST
More Vision to the Situation
I posted the following chart of Treasuries on Stocktwits last night, the daily timeframe for the TLT ETF. The chart seemed to garner much interest, as the bond market appears to be at some critical juncture. The main issue on this rising wedge breakdown is whether it would be another routine pullback in an otherwise ferocious bull market,...
12Feb4:31 pmEST
Stock Market Recap 02/12/15 {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 video, and...
12Feb3:31 pmEST
Patience in the Casino
After closing out the big UGAZ win yesterday, I do not need to force myself to chase equities higher today. I have been largely busy this afternoon organizing plans for the Market Chess Subscription Services, currently being designed. The hot names in the tape have gapped higher today, consistent with this market, such as CYBR, making it tough...
12Feb2:23 pmEST
The Big Apple
Apple continues to be a huge weight in the Nasdaq and derivative ETFs and, accordingly, has helped the Nazzy perform well of late given the stock's near-parabolic move. On the daily chart, below, we can see the stock now touching its upper Bollinger Band, indicative of temporary overbought conditions. If this is, truly, the beginning of a...
12Feb1:40 pmEST
Sneaky Sexy Strength in the Firearms Makers
Although they have earnings coming up in the next few weeks, it is still worth noting the quiet strength in firearms makers RGR and SWHC of late. Both of them had been fair money for a while, not doing much of anything. But, observing both respective daily charts, below, we can see both have been trying to carve out tight, technical sideways...
12Feb12:56 pmEST
Follow-Up on Tesla
With the earnings sell-off for TSLA, the major topping pattern remains very much in play. We looked at chart yesterday, as a cockeyed head and shoulders formation. And updating it today, it looks as though the $200 area is of course of psychological important. But it also may be technically key, too. The sheer size of the pattern projects a...
12Feb12:12 pmEST
Be the Predator, Not the Prey
One of the reasons I have been so quick to trim winners into strength and to abandon losers in this market is the amount of whipsaws we have seen, with gaps in both directions across all markets and head-fakes galore. With this in mind, I sold the rest of my UGAZ long yesterday to lock in a big, 20%-plus win in two days. After the gap down...
12Feb11:18 amEST
Here's to Your Health!
It looks as though the multi-year bull run in the likes of HAIN may have some more organic juice to it, especially over $59.50. On the daily chart, below, note the bull flag pattern I have highlighted which indicate buyers remain largely in control even after a prior move higher. I still believe HAIN to be a viable takeover target in 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.
