MarketChess
Showing articles 6581 - 6590 (6634 total)
21Nov1:01 pmEST
At the End of the Stormy Rainbow
The newfound resilience in the precious metals and miners complex continues to impress, with each sell-off being met with buyers willing to stem the tide. To be sure, this represents some change in character from what we had previously seen in the space, with each bounce not only getting sold into but also following-through much lower. Into the...
21Nov11:07 amEST
Photobombing the Market's Rally
With global Central Banks still one-upping each other, the Japanese Yen has been pummeled in recent months. Typically, the Yen trades inversely to global risk assets. And this Yen weakness has certainly been a tailwind for equity bulls. Nonetheless, the Yen is strong today, with the FXY ETF showing today's green action, below. Of course, you...
21Nov10:08 amEST
Cutting Two Losers: Chess Moves
I sold down two losers into the market's gap higher from the overnight surprise rate cut out of China. I sold my FAZ (triple-short financials) long at $13.70 from a $14.04 entry. And I sold the SWHC long @ $9.84 from my $10.06 entry. As is my style, I keep focused on containing those losing trades, so that when I do come across big winners like...
21Nov12:47 amEST
Late Night Strategy for Friday
ACHN is back on watch as a long idea to squeeze shorts in the biotech space. As you can see on the daily chart, below, the stock is forming a tight consolidation pattern (light blue lines) within the context of an overall uptrend. I am looking at a move over $13.60 to set the squeeze/breakout in motion. On the short side, keep an eye on major...
20Nov3:39 pmEST
Friendly Reminder to Avoid Margin Clerks
If you will notice, this website focuses on downside risk to any trades taken. Traders are in the business of losing, in some respects. And it comes down to how well you handle the inevitable losses. I play great defense, run the football, and take an occasional shot down the field at the big play, instead of looking to win a shoot-out with no...
20Nov2:21 pmEST
Let's Get a Handle on This Wintry Weather
After selling UGAZ (triple-long natural gas ETF) yesterday for a nice win, I am back to stalking natty for another long entry based on the straight-up UNG ETF chart, seen below on the 30-minute timeframe. As you can see, natty is forming what can be deemed a bullish cup and handle chart pattern, with the rally to the highs earlier this month,...
20Nov1:24 pmEST
IPO Act Two: Back in the Habit
The Habit Restaurants IPO today is certainly stealing action away from recent IPO's, which are notably lagging (GPRO LOCO MBLY). On the intraday chart, a move over $36.60 this afternoon would likely see another surge into the bell, for quick traders. _________________________________
20Nov11:57 amEST
A Holiday Squeeze of the Trigger: Chess Moves
I just placed 4% of my portfolio into a long Smith & Wesson position, at $10.06. My protective stop-loss is if the stock loses $9.80 on a closing basis. SWHC is the heavily-shorted firearms maker. There are a few reasons to be bearish about the stock, in terms of inventory gluts, potential legislative risk, and a chart which has been in a...
20Nov11:04 amEST
Throwing the Ball Around
It looks like bears and bulls played another game of "catch" again off the open this morning, with the weakness being bought up and the initiative essentially thrown from bears to bulls. That said, the S&P 500 Index is back up to the 2,052 area where it found minor resistance yesterday. So, I am looking to see if we see another bout of selling...
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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.
