MarketChess
Showing articles 6511 - 6520 (6613 total)
02Dec3:33 pmEST
Still in Time-Out Mode in the Corner
Although I sold the rest of my bearish energy sector ETF yesterday morning to lock in that win, I did not flip long for the bounce. Instead, I still view bounces in the energy stocks as suspect and prone to rolling back over. The reasoning is two-fold. First, there has been meaningful, high sell volume technical damage sustained. Beyond that,...
02Dec2:30 pmEST
Twitter Opting for the Red Bird
Sentiment on the TWTR stock seems to be at an interesting juncture, with many convinced of the long-term bull case. After all, the real-time/breaking news aspect of the platform is certainly on the cutting edge. Nonetheless, I posted the bearish technical setup yesterday on Stocktwits. And, despite a market bounce today, the Twitter bird is...
02Dec1:37 pmEST
Chopping Away at the Choppy Action
The market bounce today is chopping away at momentum traders, as the individual stock action appears lethargic on many fronts. Sure, issues like DGLY TASR are giving action. But plenty more, such as AMZN GOOG PCLN TSLA YELP, are in the red and notably lagging even an oversold bounce. The IWM ETF 30-minute chart, first below, shows the small...
02Dec12:19 pmEST
We May Not Have Heard the Last from Ebola
In addition to DGLY (watch that one over $18.50 intraday for another leg higher), Ebola protective-gear plays APT LAKE are hot again today for momentum traders. On their respective 30-minute charts, below, you can see the stocks essentially moving in unison, which we have seen for a good while. They each broke higher last week, pulled back into...
02Dec11:35 amEST
Just When I Thought I Was Out of Ebola...
...they pull me back in! Back in a moment with some charts on APT LAKE, the two hot Ebola plays running again this morning.
02Dec12:02 amEST
Late Night Strategy for Tuesday
On the long side, let's stick with RRGB with a $70 trigger above as a setup to squeeze shorts in this low-floater. The causal dining plays have shown relative strength of late. And this one looks as set-up as any of them. And on the short side, if Intel and the semiconductors are truly acting toppy here, then I have my eyes on the levered...
01Dec4:37 pmEST
Stock Market Recap 12/01/14 {Video}
The following video contains coverage of relevant broad market issues, as well as plenty of actionable trading ideas across all asset classes. Enjoy tonight's video, and enjoy your evening. Direct Vimeo Link Click Here
01Dec3:41 pmEST
Making a Move on the Nasdaq; Chess Moves
I placed 4% of my trading portfolio capital into a long SQQQ position, just now, at $29.23. SQQQ is the ultra-short Nasdaq ETF. I am playing for major Nasdaq components, such as AAPL GOOG, among others, to pull back in the coming days, dragging the Nasdaq down with them and their heavy weighings. My protective stop-loss on the trade is if SQQQ...
01Dec2:29 pmEST
Duck and Cover from These Two Charts
Although they have been readily dismissed by equites bulls, high yield corporate paper and junk bonds both point towards a decreasing appetite for risk on the horizon. On their respective ETF daily charts, below, you can see that high yield corporates and junk have failed to confirm the rally in equities since October. Beyond that, the threat...
01Dec1:33 pmEST
Apple Tide Rolling Downhill
The $116 level on Apple was an area I have been observing for a short-term character change to the downside. As you can see on the updated daily chart, below, Apple suffered a "flash crash" variation of its own this morning, with dip-buyers trying to take advantage of the very fast move down. As we head towards the final two hours of trading, I...
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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.
