MarketChess
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08Feb1:26 pmEST
Weekend Video Strategy Session 02/08/15 {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 02/09/15-02/13/15. Trade Well. Protect your portfolio at all times. -chessNwine Direct Vimeo Link Click Here
08Feb10:30 amEST
Sunday Matinée at Market Chess Cinemas
Italian for Beginners (2000) is a fun, largely light-hearted and underwatched subtitled comedy out of Denmark worth checking out. On a slow winter Sunday, it is definitely suggested as a good viewing. via imdb.com : Several lonely hearts in a semi-provincial suburb of a town in Denmark use a beginner’s course in Italian as the platform...
07Feb12:06 pmEST
The Best is Yet to Come
As you can see, Market Chess rolled out a brand new web design very early this morning, as promised. This new layout will focus even more on delivering a steady stream of actionable and educational content to you in a palatable manner. The finance industry can be a stressful place, full of confusion and high-pressure sales tactics where...
07Feb12:28 amEST
Back Down to BISuness Into the Weekend; Chess Moves
I went long $BIS at $41.79 into the weekend with a stop below $40. This is a 4% portfolio position. With the biotechs in the IBB ETF still teasing a major rising wedge breakdown, I am going to take another shot at shorting them into next week. I recognize they have been infallible, in many respects. But the setup is still there and I am still...
06Feb3:17 pmEST
Just Add to It; Chess Moves
I added to my NKE short at $92.06, bringing the position up to 6% of my trading portfolio capital. My original entry and thesis for the NKE short can be found in this blog post . I entered at $92.93 with a stop over $97. I am going to keep that stop in place. NKE is still threatening a breakdown from well-defined support. Bulls had numerous...
06Feb2:53 pmEST
Sending Out an SRS; Chess Moves
With the intention of swinging it into next week, I went long SRS, the ultra-short REIT ETF (basically the double-short version of IYR), at $11.56 with a protective stop-loss below $11. This position is roughly 4% of my capital. REITs, utilities, and even some consumer staples are seeing notably weakness as yields rise this week, Note how they...
06Feb1:54 pmEST
The Quick and the Dead; Chess Moves
I sold off a few pieces of my UWTI long since my last post , first at $3.87 and now at $3.89, from my earlier $3.69 entry. I moved my protective stop-loss to my entry price, and now have a 1/2 position in the triple-long crude ETF. This is quick day-trading, given the volatility in crude, still mired in a steep downtrend, and given the...
06Feb12:40 pmEST
Going for a Scalp with the Oil Cowboys; Chess Moves
In what may turn out to be merely a day-trade, I went long UWTI (triple-log crude oil ETF) at $3.69 with a protective stop-loss below $3.55. My theory is still that crude is a trading vehicle until further notice, in lieu of calling a big bottom or playing for another crash. As such, quick trades can be found here and there. On the 30-minute...
06Feb11:28 amEST
Down to One
My only position at the moment is a NKE short, which I entered at $92.93 with a cover-stop over $97. I am barely down on it down, and am playing for the 100-day moving average (whitish line on daily chart, below) to break as support next week. NKE is lagging the tape today, and has yet to put any real pressure on me this week, deposit the...
06Feb10:31 amEST
Cutting the Rest of the Miners Into a Gap Down; Chess Moves
After setting up in a promising technical manner, the precious metals miners have taken a turn for the worse this morning. Whichever reason the market had after the jobs report for dumping gold and the miners is irrelevant to me--Rather, quite simply, the technical bullish thesis was dealt a short-term blow this morning. As a result, after...
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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.
