Recipe for a Rally

03Mar12:48 pmEST

Fishing in Shallow Waters

Working our way through the New York lunch hour, we have another fairly slow day on our hands. Good action in the precious metals and miners, as well as materials in general, are outpacing the lagging biotech and "FANG" stocks. The net result is a mixed bag, with volatility staying soft. One of our key for this afternoon is the 30-minute chart...

03Mar10:45 amEST

Presenting the Goldcorp Test

After getting slammed last week into a post-earnings gap down, gold miner Goldcorp has since recovered a bit, at least stabilizing and moving higher with the precious metals and mining complex this morning. Much like GFI a few weeks back, a good litmus of whether a sector has indeed bottomed is when we see improved price action which sees a...

02Mar5:27 pmEST

Stock Market Recap 03/02/16 {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...

02Mar3:04 pmEST

A Word on Aubrey McClendon and Chesapeake Energy

Reuters Business just tweeted, via CNBC, that the ex-CEO of CHK died in a car wreck, a day after being indicted. Reuters Business @ReutersBiz BREAKING: Ex-Chesapeake CEO McClendon dies in a car wreck day after indictment: CNBC Putting the tragedy and fall from grace of the situation to one side (McClendon was considered a legend by many back...

02Mar12:47 pmEST

Slow Action

Stocks had a few chances to outright crack this morning, but underlying bids in biotech and she financials seem to be helping the cause for at least a benign consolidation of recent gains in lieu of a sharp giveback. I am still treading lightly and tightly, watching the SPY Hourly chart, below, hit its upper resistance rail of the rising...

02Mar10:36 amEST

Go with Plan Z

The morning action is shaping up to be as blurry and nebulous as the photo above of the obsolete Zima drink. But the Zika Virus plays, INO and XON, are off to a healthy start. On their respective daily charts, below, both biotech/pharmas are working through potential inverse head and shoulders bottoming formations. If their morning strength...

01Mar5:13 pmEST

Stock Market Recap 03/01/16 {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...

01Mar3:39 pmEST

Revolt Now or Forever Hold Your Peace

There are a few schools of thought about the bond market out here right now. One is that "We are Japan," with rates bound to stay low regardless of The Fed, due to secular deflationary pressures. Another view is that rates should steadily rise from here in a healthy manner due to The Fed being behind the curve, as usual, and the U.S. macro...

01Mar12:50 pmEST

When in Doubt, There is Always Steak

The market action into the New York lunch hour continues to impress, with everything from Goldman and financials to Apple regrouping after looking wobbly yesterday at the closing bell. Still, some notable laggards stick out, which a few of our Members have noted, including FIT KSS LNKD SHAK TSLA TWTR, among others. But with biotech and...

01Mar10:54 amEST

Recipe for a Rally

Despite a dodgy close yesterday afternoon, stocks came fighting back this morning, Beyond that, they have several factors working in their favor at the moment. Gold and Treasuries are in the red, perhaps seeing some safe haven trades unwinding a bit. The Japanese Yen, as well, is red, giving bulls in stocks hope for some more meaningful risk...