MarketChess
Showing articles 6221 - 6230 (6635 total)
04Feb12:43 pmEST
Waiting in the Weeds
I am have held off on new trades today, thus far, as the action still smacks of choppy behavior. However, I am entertaining a whole host of fresh trade ideas, including potential longs in JNUG and JO. In addition, looking to go short the indices and long volatility is on my radar if we see weakness this afternoon, potentially trapping longs who...
04Feb11:05 amEST
Tough Crossing the Highest Bridge
It is not just the GILD gap down this morning which is pressuring biotechnology stocks at-large again. In addition, AMGN continues to break lower from a highlighted descending channel pattern, seen on the daily chart, below. BIIB still looks to be the strongest of the major biotechs hanging in there, for now. But clearly the momentum is...
04Feb10:13 amEST
Watch the Components for Explosive Moves
In determining whether the precious metals miners are on the cusp of another leg higher after a stellar open to 2015, I am keying off some individual components in the GDXJ, ETF for the junior gold miners. In particular, you can see individual components AG HL, which have a heavy weighing in that GDXJ ETF, both coiled up on their respective...
03Feb4:45 pmEST
Stock Market Recap 02/03/15 {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...
03Feb3:50 pmEST
Update Into the End of the Workday
I decided to sell off the rest of my DWTI long at $107.32 from my $98.88 entry earlier today. I will not swing crude oil with inventory report tomorrow morning. CMG looks to be one of the big earnings tonight after the bell. Overall, despite my TZA loss and gold miners reversing lower, the airline shorts and an opportunistic trade in oil...
03Feb3:09 pmEST
Debating a Justifiable Swing
Earlier this afternoon I initiated what I planned to be a day-trade on Stocktwits and Twitter in DWTI, the triple-short ETF for crude oil. Here is my original note. I sold off profits up to $104.86. Currently, I have half of the position on and am debating swinging it overnight. Crude oil has seen a nice multi-day short squeeze back from...
03Feb1:41 pmEST
Cutting a Loser and Locking in Airline Winners; Chess Moves
The market continues to be extremely volatile not just on a day-to-day basis, but also intraday as well. As such, there is still a premium being placed on agility and discipline as a trader. We simply need to keep cutting losers quickly, while managing winners effectively. With this in mind, I made the following sales: I sold my TZA long for...
03Feb12:17 pmEST
Signs of the Bread Basket Storm Passing
While crude oil is getting much play for its snapback rally from badly beaten-down conditions, soft commodities are also staging relief rallies today. Just like oil, the softs have been pummeled in recent months, which I am sure has been just one consequence of the U.S. Dollar runaway freight train higher. Nonetheless, the greenback is coming...
03Feb11:27 amEST
More Spreads Than Your Super Bowl Party
The bifurcation across markets continues, with biotechnology stocks essentially breaking down from a rising wedge (although the close is going to be paramount today, it is still fairly early in the session), while other parts of the market are strong, namely the Dow and small caps. You can see the updated biotech sector ETF daily chart, below...
03Feb10:30 amEST
Russia Bears Watching for Love
In the midst of the snapback rally in crude oil and energy stocks, Russia has stopped going down for now. The RSX, country ETF for Russia, seen below on the daily timeframe, shows a consolidation pattern which has morphed into a sideway channel. Bears have thus far failed to crack it lower, perhaps blinded by love for a crash in crude and...
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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.
