MarketChess
Showing articles 5891 - 5900 (6613 total)
31Mar2:00 pmEST
Betting on the Credit Card Thesis; Chess Moves
I went short MasterCard, MA, at $87.02 with a protective cover-stop above $93 on a closing basis. For a while now, I have been bearish on financials due to their underperformance and even the mighty credit card plays, despite how impressive their rallies have been on a multi-year basis. But with chinks in the armor seen in credit card plays...
31Mar1:06 pmEST
View from the Shoreline of Support
From the proverbial shoreline of support which we looked at last week, the SPY (actively-traded ETF for the S&P 500 Index) has since staged a multi-day bounce. Recall those hourly charts of the SPY and QQQ, as the SPY hourly is updated below to show the bounce off the light blue horizontal line. Until this broad range is broken, in terms of...
31Mar12:23 pmEST
Adding to a Position; Chess Moves
I added to my GILD short position just now, at $98.92, after my core $100.46 entry early last week here . On the updated daily chart, below, I am simply pressing for the 200-day moving average breakdown (yellow line), and the base breakdown (light blue line). My cover-stop is still above $105. Earnings are scheduled for April...
31Mar11:32 amEST
A Quick Drink from the Cup; Chess Moves
I just sold off 1/3 of my long JUNO position here, at $64.30 from the $60.42 entry I noted yesterday in this blog post . I also moved my stop-loss up to my entry price in order to protect the winning position. JUNO is clearing the cup-and-handle setup we have been discussing, but it is running hot in a sluggish tape. So, taking some...
31Mar11:08 amEST
That Movie Where Schillinger Plays the Pregnant Teen's Father
Into a soft opening tape this morning, my JUNO long is threatening the cup and handle breakout we looked at yesterday. Holding over $62 is going to be this key, to be sure. Note that this biotech move is happening while my GILD short moves lower, and other titans like CELG also represent actionable short setups, breaking down from a bear flag,...
30Mar4:28 pmEST
Stock Market Recap 03/30/15 {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...
30Mar3:41 pmEST
More Than Just Teck
Teck Resources appears to be up nicely today on a report of a potential merger. On its face, it may seem like an isolated, stock-specific move. But it is also worth looking at the action in there base metals and mining firms today, including SCCO and FCX. There is some interesting strength worth discussing on my recap after the bell today in...
30Mar3:11 pmEST
Long Schillinger in Juno Terms; Chess Moves
I went long JUNO at $60.42 with a protective stop-loss below $56. The hot biotech, which IPO'd late-last year, has been working through what can be deemed a bullish cup and handle formation, seen on the daily chart, below. I am betting that the key $62 level breakout will occur this week, highlighted in light blue, up and out of the "handle,"...
30Mar1:58 pmEST
Staring Down the Masters in April
The Masters 2015 professional golf tournament is schedule to take place at Augusta National Golf Course from April 9-12th. From both a logical and seasonal perspective, Callaway Golf Company tends to perform quite well in early/mid-April, with the cold, dark winter nights giving way to more pleasant golfing weather. And on the daily chart,...
30Mar12:59 pmEST
A Musky Scent to This Announcement
With TSLA's stock sluggish again earlier today, the market apparently got what it wanted for at least a temporary short squeeze from this Elon Musk tweet . It is unlikely that TSLA bottoms on a tweet from CEO Musk. But, to be sure, the stock had become quite obviously weak and perhaps this squeeze serves to keep cocky shorts honest. On the...
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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.
