Trading Biotech Not Such an Easy Company

08Jun3:44 pmEST

You Cannot Completely Avoid the Drama

The Comey testimony today was largely a non-event for stocks, as the larger issue for traders focused on price action in lieu of politics was the rotation back into small caps and banks, like Citi, for the most part. In addition, the XME (ETF for materials miners) staged an impressive rally, with beaten-down winners from 2016 like CLF and TECK...

08Jun1:34 pmEST

A Toll Booth Willie Bull Market

Persistent strength in payment processors SQ PYPL (not to mention the uniquely strong, multi-year bull runs in leaders MA and V) reinforce the secular theme of the modern day "toll collector" business model dominating global capitalism. Earlier today on social media I charted QIWI, a similar play with exposure to Russia. There are other...

08Jun10:36 amEST

One Consolidation for Me, and One for My Comey

The gist of price action throughout this week has been one of consolidation, with some fits, starts, head-fakes higher, and down-fakes lower providing a fair amount of frustration for traders pushing the envelope in terms of aggression. With the Comey testimony now underway in Washington, as traders we want to sift through the political noise...

07Jun3:50 pmEST

Stock Market Recap 06/07/17 {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...

07Jun3:47 pmEST

So is it Fair to Say That Comey's Testimony is a Buffer?

Into the closing bell, the market is hanging in there rather well in front of the Comey testimony tomorrow morning. I recognize that his testimony is not particularly market-relevant on the surface. But if he launches a few verbal mortars it may be enough to see the market hold off on a new leg higher in front of the main event next week. And...

07Jun1:28 pmEST

No Dice

An ugly downside reaction to the weekly crude oil inventory report has apparently negated the bounce attempt energy stocks (and crude itself) tried to stage earlier this week. While the broad market is not swooning off the inventory move, the reality is that the energy sector continues to be a sore spot containing plenty of market cap, even if...

07Jun10:40 amEST

Pinball Game Action off Dave & Buster's

The rally in Dave & Buster's (PLAY) this morning after earnings stands in stark contrast to recent articles circulating about how millennials have effectively ruined casual dining. While it is certainly true that Dave & Buster's is a nontraditional casual diner, the reality is that when we look at, say, a Texas Roadhouse, below on the daily...

06Jun3:50 pmEST

Stock Market Recap 06/06/17 {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...

06Jun3:49 pmEST

A Soothing Picture Instead of Extremes

With the exception of a few notable monsters like LITE OCLR TSLA, upside momentum in this market is sputtering. While a leader like AAPL remains in contention as a long setup, the action during the final hour from the market at-large is enough for me to reduce risk a bit on the long side, though I do have some exposure on with profit cushion. ...

06Jun1:37 pmEST

Trading Biotech Not Such an Easy Company

Regarding the biotech trade in recent weeks (even months), our mantra inside Market Chess Subscription Services has been to be precise, given the many sloppy charts in the space. And that certainly still seems applicable, even with a name like REGN acting rather well of late and distinguishing itself from other large cap bios in the IBB ETF....