MarketChess
Showing articles 6061 - 6070 (6600 total)
27Feb3:00 pmEST
Trapping the Big Cat with a Chase; Chess Moves
I just went short the giant global industrial player, Caterpillar, at $83.03, with a protective cover-stop over $86. This position amounts to roughly 4% of my trading portfolio capital. The big CAT has been weak on the whole since around Thanksgiving of last year. But that weakness has been covered up by the chase happening in the market...
27Feb2:07 pmEST
Close to Solving the Mystery
As a follow-up to my previous blog posts and video analysis about the gold miners likely being in the final round of a heavyweight fight before they either cement a major bottom or resume their bear market lower, consider three of the top holdings in the GDX, ETF for senior gold miners. ABX is close to trying to confirm a massive inverse head...
27Feb1:11 pmEST
Playing a Quality Setup; Chess Moves
I just went long CRTO at $45.59 with a protective stop-loss below $43, looking to swing trade a breakout in this bullish technical setup which we have been looking at in recent weeks. This position amounts to roughly 4% of my portfolio capital. CRTO is a French internet firm which has shown signs of being under accumulation of late, gauging...
27Feb12:15 pmEST
A Win is a Win is a Win; Chess Moves
After entering UGA, the gasoline ETF, back on Wednesday at $36.63 for a long trade, I just sold the other half of my position for about a two-point win. As I noted, this was a smaller position size due to how thinly UGA trades at times. However, a win is a win. And after two big wins in UGAZ in recent weeks, recognizing the rotation into...
27Feb10:58 amEST
No Longer Between the Hedges
I am considering selling the final piece of my UGA ("University of Georgia") long, which is the ETF for gasoline. As I noted when I initiated the position, my sizing was smaller than usual because the ETF trades thinly in terms of volumes. Nonetheless, a profit is a profit. And at this point the ETF is no longer "between the hedges" as price...
27Feb10:11 amEST
Remnants of Old Fear
Although the financial crisis is a distant memory for most by now, especially considering the magnitude of this bull run amid relatively low volatility, Bank of America seems to have remnants of that old fear. Specifically, on the zoomed-out weekly chart, below, we can see that price found resistance at prior support from July 2008, which...
26Feb4:23 pmEST
Stock Market Recap 02/26/15 {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...
26Feb3:42 pmEST
More Trades Into the Bell; Chess Moves
I cut my AKS long at $4.45 from my $4.52 entry for a loss, as the rotation thesis down to those materials did not pan out immediately as I thought it would. So, once again, I will keep losses quite small. I also went long TBT, the ultra-short ETF for Treasuries, at $43.73 with a protective stop-loss below $42. Bonds could still be bear-flaggng...
26Feb2:49 pmEST
Digging in the Dirt; Chess Moves
I am digging in and getting my hands dirty here, going long FAZ, the triple-bearish ETF for the financial sector. Specifically, I went long FAZ at $12.34 with a protective stop-loss below $12, playing for the financials in the XLF ETF to make a lower swing high. This position amounts to roughly 4% of my trading portfolio capital. As we had...
26Feb2:15 pmEST
Not All It's Cracked Up to Be
Yesterday's upside reversal in crude was sharp enough to see me sell my ERY (triple-short energy sector ETF) for about a 1% loss. However, the reversal did not follow-through and was not all it was cracked up to be. Crude is back to sloppy trading from a swing perspective today, as UWTI, the triple-long ETF, is down more than 12% as I write...
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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.
