MarketChess
Showing articles 5871 - 5880 (6599 total)
01Apr11:56 amEST
Back in the Gold Game; Chess Moves
I went long NUGT at $10.31 with a protective stop-loss below $9.70. NUGT is the triple-long gold miner ETF. As I mentioned in my last blog post, gold miners are impressive today, including the likes of ABX. There re many potential double-bottoms in the space, to the point where I am taking a shot at another tradable bounce, of which there...
01Apr11:29 amEST
The Usual Response to a Waterfall
Into the opening weakness we are see dip-buyers give it their usual effort in pushing stocks as close to back to green as possible. Small caps bounce particularly hard off the morning thrust down, as they continue to outperform in many respects this year. Select issues, such as AYI JCP NDRM, are notably outperforming, essentially trading in...
01Apr10:41 amEST
Taking Partial Profits; Chess Moves
Into this morning weakness, I took partial profits in two of my bearish biotechnology positions. I sold half of my BIS long at $36.05 from my $34.11 entry posted yesterday, trailing up a mental stop-loss to my entry price to protect gains. I also covered half of my GILD short at $95.99 from my core $100.46 entry and 98.92 add, trailing...
31Mar4:25 pmEST
Stock Market Recap 03/31/15 {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...
31Mar3:29 pmEST
How Textbook is Too Textbook; Chess Moves
I went long BIS at $34.11 with a stop-loss below $32. BIS is the ultra-short ETF for the biotechnology sector. As we all know, shorting biotechs has been as tough as bet as it gets, with the resilience of the sector's bull run overpowering any apparent sign of an imminent correction. Still, the action in the major biotechs like CELG and GILD...
31Mar2:45 pmEST
Winners Stay Winners; Chess Moves
With today's market sluggishness, I am still not too keen on pressing longs here. As a result, I am focused on not letting winners turn into losers. I had previously scaled profits at higher levels in my JUNO and X longs. But with this afternoon's weakness I am electing to sell out of the remainder of both positions to protect wins on the...
31Mar2:00 pmEST
Betting on the Credit Card Thesis; Chess Moves
I went short MasterCard, MA, at $87.02 with a protective cover-stop above $93 on a closing basis. For a while now, I have been bearish on financials due to their underperformance and even the mighty credit card plays, despite how impressive their rallies have been on a multi-year basis. But with chinks in the armor seen in credit card plays...
31Mar1:06 pmEST
View from the Shoreline of Support
From the proverbial shoreline of support which we looked at last week, the SPY (actively-traded ETF for the S&P 500 Index) has since staged a multi-day bounce. Recall those hourly charts of the SPY and QQQ, as the SPY hourly is updated below to show the bounce off the light blue horizontal line. Until this broad range is broken, in terms of...
31Mar12:23 pmEST
Adding to a Position; Chess Moves
I added to my GILD short position just now, at $98.92, after my core $100.46 entry early last week here . On the updated daily chart, below, I am simply pressing for the 200-day moving average breakdown (yellow line), and the base breakdown (light blue line). My cover-stop is still above $105. Earnings are scheduled for April...
31Mar11:32 amEST
A Quick Drink from the Cup; Chess Moves
I just sold off 1/3 of my long JUNO position here, at $64.30 from the $60.42 entry I noted yesterday in this blog post . I also moved my stop-loss up to my entry price in order to protect the winning position. JUNO is clearing the cup-and-handle setup we have been discussing, but it is running hot in a sluggish tape. So, taking some...
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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.
