Following Up on Wynn Resorts and Steve Wynn

30Jan4:38 pmEST

Stock Market Recap 01/30/18 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets If you enjoy my videos and blog posts, then please...

30Jan3:51 pmEST

Another Wynn Update Into the Bell

They are not just lines of charts, since the market is telling us they are important (provided that we stay objective when we draw them). In the case of WYNN, the stock is getting its first real bounce today since the Steve Wynn news hit last week, and it is bouncing at a major, not minor, level. We looked at the $160-$162 area previously as...

30Jan1:17 pmEST

A Little Waterfall After a Long Journey

The Dow is off by nearly four hundred points as I write this, a seemingly jaw-dropping number if you have been trading for more than a decade until you realize on a percentage basis it is barely off by 1.5%. On that note, this little waterfall action is simply part of the game and should be accepted as such, even though the recent melt-up...

30Jan10:22 amEST

See's Candies No Evil; Hear No Evil

Warren Buffett, in perhaps one of his final acts of superficial white-knighting (Clayton Homes, cough cough) for the American people, was part of an announcement this morning that his Berkshire Hathaway, Amazon, and JPMorgan would be forming a health care firm "free from profit-making incentives" to lower costs for their employees. Putting to...

29Jan4:54 pmEST

Stock Market Recap 01/29/18 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets If you enjoy my videos and blog posts, then please...

29Jan1:30 pmEST

Go with the Flow for Now

Early weakness has yet to snowball downhill in the manner I am sure bears want to see, as bulls did a good job this morning of defending $285 on SPY (actively-traded ETF for the S&P 500 Index), seen on the intraday chart, below, with a 5-minute "hammer" reversal candle. Keep in mind, this is a very short-term chart and should only be used as a...

29Jan10:35 amEST

Hacky Sack Might Save the Day for This Loser

Insys Therapeutics, Inc., a top ten holding in the MJX ETF for marijuana-related stocks, is off to a strong start this morning amid a sluggish tape. The daily chart for INSY, below, shows price attempting to hold its 200-day moving average (yellow line) after backtesting it several times of late. In addition, the daily chart does not tell the...

27Jan6:03 pmEST

Weekend Overview and Analysis 01/28/18 {Video}

The following video is a brief, condensed version of the full-length Weekend Video Strategy Session which I present each weekend to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all mark Please click here for more...

27Jan6:01 pmEST

Saturday Night at Market Chess Cinemas

One of Ben Stiller’s better non-comedy performances can be seen portraying a real-life drug addict in Permanent Midnight (1998), also starring the stunning Maria Bello and Owen Wilson. Critics and audiences alike did not seem too fond of this film, but I believe it is underrated and worth a viewing. via imdb.com Comedy writer Jerry Stahl,...

26Jan2:13 pmEST

Following Up on Wynn Resorts and Steve Wynn

In light of this blog post from Monday, I thought it would be the right thing to follow-up on WYNN in light of (according to Mediate, and other sources like the WSJ) allegations that Las Vegas hotel and casino mogul Steve Wynn is facing dozens of accusations that he displayed a pattern of sexual misconduct over the years, which included...