MarketChess
Showing articles 6301 - 6310 (6635 total)
20Jan11:36 amEST
Gold Bears Playing Hide-and-Go-Seek
The easiest conclusion to draw with this morning's gap up across the board in the precious metals and miners complex is to note how overbought they are in the short-term. Indeed, observing the gold ETF daily chart, below, we can see that price has been "riding along" the upper Bollinger Band in recent sessions, and is now gapping free and clear...
20Jan10:41 amEST
Locking in More of a Big Win; Chess Moves
I sold another half of my NUGT long @ $20.37 from $16.88 entry noted in this blog post . I also previously scaled gains at $18.96 in this post . I am down to a small "runner" in the position now, willing to let it ride in case gold miners continue to go crazy to the upside. I raised my stop-loss up to $18. Overall, the precious metals and...
19Jan7:10 pmEST
Monday Night View of Oil
I present the current chart for crude oil, stretching back several weeks. You can plainly see the steep decline, followed by recent bounce attempts. First and foremost, the highlighted yellow area shows what could be a potential inverse head and shoulders bottom, with $49.70 being an initial area above to clear in order to sustain a meatier...
18Jan2:19 pmEST
Weekend Video Strategy Session 01/18/15 {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 01/19/15-01/23/2015. Trade Well. Protect your portfolio at all times. -chessNwine Direct Vimeo Link Click Here
18Jan11:38 amEST
Sunday Matinee at Market Chess Cinemas
A Prophet (2009) [“Un prophète” (original title)] is a terrific thriller about a young Arab man sent to a Corsican prison, where he must deal with the ruling mafia. I have recommended this one before. But believe it is worth another post, given how few people have seen it. The film is able to attain a certain depth to the characters and plot...
17Jan12:24 pmEST
Gold Shorts Stuck in the DUST Bowl
After being so vocal for so long, precious metals and miners bears have been noticeably quiet of late. In this business, it sure is easy to be in cheerful spirits and brimming with confidence with things are going well. But when the tide changes, it is usually only then that we see whether the confidence is true or instead is a thinly-veiled...
17Jan12:16 pmEST
The Panic of 1893 with Lawrence Reed
On this Saturday of a long, holiday weekend, it is worth relaxing and watching the following video. It features a fascinating and educational lecture about the Panic of 1893, courtesy of Lawrence Reed.
16Jan3:44 pmEST
Flattening Out After a Winning Week; Chess Moves
It has been a very profitable several weeks of trading for me in 2015, thus far, after a solid 2014. I am off to a strong start and have decided to flatten out into the long, holiday weekend. I covered all of my equity shorts, as I am not going to press into a myriad of potential headlines (or lack thereof) over the long weekend. I could easily...
16Jan1:53 pmEST
Closing Out the Visa Short; Chess Moves
With Visa hugging its lower daily chart Bollinger Band, I elected to close out the rest of the short for a modest win into the long weekend. I covered the rest of the short at $253.38 from my $260.30 entry noted here . As for my open positions, I still have a trailer on my winning NUGT long, and my AAL F UAL shorts look promising, while the...
16Jan11:56 amEST
An Aerial View of the Market
We have a modest bounce going in the indices this morning. After scaling a big win in NUGT earlier, I have a mixed bag with my shorts. AAL UAL V are performing well for me, while the biotech resilience is pressuring my BIS (ultra-short biotech sector) long. LOW is also being stubborn up here, too. Depending on whether the bounce gains steam...
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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.
