MarketChess
Showing articles 5911 - 5920 (6647 total)
02Apr12:39 pmEST
A Holy Chart Into a Holy Weekend
Headed into a long, three-day holiday weekend, I am still holding half of my BIS long, which is the ultra-short biotechnology sector ETF. This is obviously a bearish bet on the biotech sector. I took partial profits yesterday into the weak open, at $36.05 from my $34.11 entry (noted in real-time in this blog post ). At issue is whether I...
02Apr12:05 pmEST
Another Few Laps at Adult Swim; Chess Moves
I went long UGAZ at $2.42 with a protective stop-loss below $2.20. UGAZ is the triple-levered long ETF for natural gas, derived from UNG, the straight-up natty ETF. I have been fortunate to lock in some big wins in UGAZ this year, notably in February, despite the steep downtrend natty has been--As I have noted before some of the best rallies...
02Apr11:05 amEST
Quick Morning Update
Let's return to that SPY chart we have been updating, the zoomed-out hourly timeframe below. Note that bulls lost $207 Tuesday and Wednesday a level we thought they needed to defend, short-term. Nonetheless, price bounced off the major support trendline, horizontal light blue, dating back well over a month. I am watching that $207 are above...
01Apr4:34 pmEST
Stock Market Recap 04/01/15 {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...
01Apr3:41 pmEST
Chess Move Into the Bell
I sold the DWTI day-trade long here at $115.25 from earlier $112.38 entry. I will not swing short crude oil here overnight, but rather look to hop back in only if there is any downside traction tomorrow. Overall, partial profits in GILD IBB NUGT made for good trading, as I sold my equity long JUNO X yesterday and locked in those wins. See you...
01Apr2:38 pmEST
A Quick Southwest Flight Heading South; Chess Moves
I just went short LUV, Southwest Airlines, at $43.44 with a protective cover-stop above $45 on a closing basis. LUV has enjoyed a magnificent multi-year uptrend, unaffected by its steepness. But as the daily chart, below, indicates, the stock has gone sideways since late-January. Ultimately, for my short to work the stock likely needs to lose...
01Apr1:47 pmEST
More Intraday Action; Chess Moves
I just sold another piece of my long NUGT here at $10.81 from earlier $10.31 entry, in order to scale some fast intraday gains since my purchase earlier. I am now down to 1/2 size of original position, still with a stop-loss below $9.70. I also went long DWTI at $112.38 with a stop below $105 for a likely day-trade , shorting crude oil...
01Apr12:44 pmEST
Battlefield Tactics; Chess Moves
I just sold 1/3 of my earlier NUGT long here at $10.69 from earlier $10.31 entry. I am just taking some quick, partial gains for the sake of discipline in a fast-moving instrument. As for the overall trade setup, it is still very much intact. Specifically, the GDX, ETF for the senior gold miners, below on the daily chart, shows a potential...
01Apr11:56 amEST
Back in the Gold Game; Chess Moves
I went long NUGT at $10.31 with a protective stop-loss below $9.70. NUGT is the triple-long gold miner ETF. As I mentioned in my last blog post, gold miners are impressive today, including the likes of ABX. There re many potential double-bottoms in the space, to the point where I am taking a shot at another tradable bounce, of which there...
01Apr11:29 amEST
The Usual Response to a Waterfall
Into the opening weakness we are see dip-buyers give it their usual effort in pushing stocks as close to back to green as possible. Small caps bounce particularly hard off the morning thrust down, as they continue to outperform in many respects this year. Select issues, such as AYI JCP NDRM, are notably outperforming, essentially trading in...
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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.
