Failed Hammers Make for Narrow Passes

11Oct10:40 amEST

Rough and Tumble Bulls

For various reasons, tech and growth-led bull runs tend to be far more aesthetically-pleasing to most and much more welcomed with open arms by retail traders. However, when it comes to commodity-led bull runs, it often takes a while to warm up to the likes of coal, oil and gas, ags, even solar plays. And then there are the materials miners....

08Oct10:15 amEST

AVAILABLE NOW! My New Book, "A Street Smart Guide to Modern Sports Betting"

The Amazon Kindle version is available now (Paperback version soon to follow). I am confident you will find the book useful and enjoyable. Thank you for all of your support and interest. CLICK HERE TO BUY IT NOW! BOOK DESCRIPTION: The new era of modern sports betting has arrived. As more states officially legalize sports betting so as...

07Oct3:42 pmEST

Reminder: Don't Be a Blaster

In overall rangebound and indecisive markets like the one we are currently still in, the temptation for many traders is to blast all-in long or short (or close to all-in) seemingly on a daily basis as the market fluctuates more violently than usual. As you might imagine, that strategy can lead to some unnecessary violet whipsaws for most...

07Oct10:08 amEST

You Forgot About Solars? How Dare You!

During energy bull runs which accompany fears of inflation, we often see one sector after the next under the broad umbrella of all things commodity-related eventually catch a strong bid, be it lumber, natty gas, soft commodities oil & gas stocks, etc.. This phenomenon was rather apparent in the first half of 2008, especially. And could easily...

06Oct3:24 pmEST

I Give This Chart a 4.2 Out of 10

Penn National Gaming (NASDAQ:PENN), which purchased a 36% stake in Dave Portnoy's Barstool Sports in early-2020, is suspiciously weak today despite the broad market upside reversal. On the first daily chart, below, PENN is not nearly as weak as other IWM holdings today due to the energy complex shakeout. However, you can see how dodgy the...

06Oct10:35 amEST

Pain Everywhere You Look

The "max pain" nature of the current market landscape is becoming more apparent by the day and perhaps illustrated best this morning with the indices oscillating wildly at some key support levels, be it 34,000 on the Dow or 4300 on the S&P 500 Index. Indeed, both longs and shorts are in for some serious pain in this market, which has me dialing...

05Oct4:35 pmEST

Stock Market Recap 10/05/21 {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...

05Oct10:41 amEST

Spending More Time At the Crime Scene

Wide range trading persists on the indices, with yesterday's weakness largely erased into this opening push higher. That said, a fair amount of individual stocks I am watching are not exactly bouncing with the same sort of vigor the indices are. But with IWM holding $220 again, we have to account for the potential of QQQ to bounce back up to...

04Oct4:43 pmEST

Stock Market Recap 10/04/21 {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...

04Oct10:52 amEST

Failed Hammers Make for Narrow Passes

The main takeaway from the action thus far this morning is that Friday's much cheered-upon hammer-like (potential!) bullish reversal candlestick on the Nasdaq daily chart (arrow on QQQ ETF daily, updated below, highlights this) looks to be decisively negated with the early selling breaching Friday's lows. Bulls may very well be able to salvage...