MarketChess
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23Dec10:42 amEST
The Holiday Stretch
While the Nasdaq is red this morning, the other major averages are green as many individual issues are stretching higher yet into the holidays. The market will close early for Christmas Eve tomorrow, followed by a day off on Thursday for Christmas Day. Issues such as MRGE RRGB TXRH ZAYO ZEN are still reasonable long setups into further...
22Dec5:18 pmEST
Stock Market Recap 12/22/14 {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...
22Dec3:40 pmEST
70 Wonder Years
The great musician Joe Cocker died at 70 years old. He had a distinct voice, and also was featured in the theme song to the hit TV show, "The Wonder Years." Back in a few moments for my video market recap.
22Dec2:49 pmEST
Hacking Into These Two Charts with Precision
BlackBerry has been a popular ticker for short-term traders for a while now. And updating the daily chart, first below, we can see that Friday's weakness apparently was a failed move lower. We know that from failed moves in the market often come aggressive moves in the opposite direction. Thus far, we are seeing just that in BBRY, with today's...
22Dec1:34 pmEST
Looking to Be an International Harvester of Gains
CORN and WEAT still look to be acting best of all soft commodities. I remain long CORN and would consider adding to it over $27.65. The 30-minute chart of the CORN fund, below, shows a nice consolidating after the breakout two weeks ago. WEAT may very well be bull-flagging here, as well. If there is no upside follow-through, then I may harvest...
22Dec12:54 pmEST
A Simple Job Down in Cuba
CUBA has been a good day-trading stock over the past few sessions. We profiled the 20-period moving average on the 5-minute chart last week after the initial political news about Cuba was released. Since then, the stock has continued on higher. Updating the 10-minute chart below, I still think you can use the 20-period moving average as a rough...
22Dec11:50 amEST
Trading Vehicles Only or You Can Kiss Your Money Goodbye
The price action in natural gas of late is a good reminder that highly-levered ETFs such s UGAZ (triple-long natty) are designed to be trading vehicles only, rather than buy-and-hold for a retirement account. In addition to the leverage, the ETFs suffer "decay" with the way they are structured. I was fortunate to sell UGAZ right at its...
21Dec3:01 pmEST
Weekend Market Film Session 12/21/14 {Video}
The following video contains coverage of the broad market, as well as tons of actionable trading ideas for equities and other markets regarding the coming week of 12/22/2014-12/26/2014. Trade Well. Protect your portfolio at all times. -chessNwine Direct Vimeo Link Click Here
21Dec11:48 amEST
Coke's Chart a Messenger of Looming Knockout
After an impressive and steady nearly six-year uptrend, Coca-Cola's stock chart is now displaying classic warning signs of an imminent top. On the daily chart, below, note the loose and sloppy price swings in recent months. This type of action indicates a loud disagreement taking place between buyers and sellers, otherwise known as "violent...
20Dec2:39 pmEST
Saturday Night at Market Chess Cinemas
I consider L.A. Confidential (1997) to be one of the best films from the 1990's. Based on the James Ellroy novel, and set in steamy, noir-ish 1950s Los Angeles, the film focuses on three main scheming, gritty policemen tracking several murders with some shady connections to the police department. The all-star cast features Kevin Spacey,...
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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.
