Chess Moves

Showing articles 61 - 80 (188 total)

16Mar11:50 amEST

Probing a Coffee Long; Chess Moves

I just went long JO, the ETN for coffee, at $24.07 with a protective stop-loss $22.60.  As I discussed earlier this morning, coffee is outperforming virtually all commodities today. It has been disappointing after a promising first week of 2015.  Still, seasonal trends are favorable and the technical setup on the daily chart, below, is for...

16Mar11:21 amEST

Squaring Up Before a Big Match; Chess Moves

I just covered up the final piece of my LVS short for a win, and my UAL short for a loss.  After scaling on the way down, casinos may finally be ripe to bounce this week. Either way, the risk is too high for a sharp snapback rally in the likes of LVS WYNN here for my taste. Thus, I covered the final 10% position size in my LVS short at $52.92...

13Mar3:19 pmEST

Pressing a Bet; Chess Moves

I added to my open GOOGL short here at $551.18, pressing the bet for further weakness next week.  My original entry was noted here  earlier this week at $557.15 with a cover-stop over $585.  My cover-stop remans the same, and the position now equates to roughly 6% of my portfolio capital.  The bear thesis of a weekly topping pattern is still...

13Mar11:07 amEST

This Trade is a Contender Now; Chess Moves

I just went short AXP at $80.07 with a cover-stop over $84 on a daily closing basis. This position equates to roughly 4% of my portfolio capital. AmEx is a name I have charted extensively as a bearish confirmed top for a while now. And after a snapback rally I am simply playing for that top to continue to force the issue lower.  I will present...

12Mar3:44 pmEST

Long Gogo Into the Bell; Chess Moves

Into the closing bell, I went long GOGO at $19.93 for a daily chart bull flag/short squeeze breakout. My stop-loss is under $19.  GOGO is a heavily-shorted stock, and for good reason--The in-flight WiFi firm was smashed after is IPO last year. But not it may be trying to come back to life.  And the daily chart indicates as much, with a bull...

12Mar3:15 pmEST

Covering Up Some Late-Winter Laggards; Chess Moves

Staying true to my word, I am going to ditch a few of my holdings in order to either lock in wins, prevent winners from turning into losers, or keep losses small.  Specifically, I covered my CMG short at $669.64 from my entry of $660.16 for a loss. I would rather step aside here than risk the name drifting up on me without a profit cushion....

12Mar2:18 pmEST

Shifting Gears; Chess Moves

I covered the rest of my FB short, just now at $78.78 from my $80.19 posted entry and rolled that money over to a new TSLA short at $190.88. I had previously scaled half of the FB short here at $77.88 . While FB may just be getting started in terms of rolling over, I am seeing more relative weakness today out of TSLA. And I know I can always...

11Mar3:34 pmEST

Going After Google; Chess Moves

I went short GOOGL at $557.15 with a cover-stop over $585. Playing for the right shoulder of a weekly topping pattern. This short position amounts to roughly 4% of my trading portfolio capital.  The theory behind the trade is that Google has just staged a snapback rally after being a notable laggard for quite some time.  This rally has excited...

11Mar1:47 pmEST

I Think I Want My Money Back; Chess Moves

I covered more of my LVS short here, at $51.82, from my $55.34 entry to scale even more gains.  As you know, I have been trimming this winner along the way, as it slides down.  I now retain about 10% of my original position, letting ride, so to speak, to see if casinos truly do wipe out.  My cover-stop is still at my entry...

11Mar10:29 amEST

Half Off of the Big Cat; Chess Moves

I covered half of my CAT short here at $79.46 from the $83.03 entry a few weeks back I noted in this blog post, in order to scale gains. I trailed my stop down to my entry price.  Caterpillar remains weak and is flirting with a multi-year breakdown below the $78-$80 area, which is an important level dating back nearly a decade. And as much as I...

10Mar2:37 pmEST

Covering Up for Privacy on Facebook; Chess Moves

I just covered half of my FB short at $77.88 from my posted $80.19 entry last Friday here , in order to scale some immediate gains in the marquee name. I will trail my stop down to my entry price.  Overall, the short thesis remains intact for FB and its chart. But I am simply staying methodical with profits on the short side until I see more...

10Mar10:44 amEST

Balancing Out my Blueberries in the Casino; Chess Moves

I covered some more of my LVS short here, at $52.50, from my $55.34 entry to scale partial gains. Recall that I took some off the table yesterday, too. So, now I am down to about 25% of my original position, with my stop-loss at my entry price.  Sands continues to break lower yet. But until we see even more evidence of a major market turning...

09Mar2:40 pmEST

Taking a Stab at the Dow; Chess Moves

I went long SDOW at $19.22 with a tight stop below $19. SDOW Is the ultra-bearish Dow ETF.  This position is potentially a day-trade for me, depending on how it plays out in the final 60-90 minutes of the session.  The theory behind the trade can be seen, below, on the DIA (Dow ETF) hourly timeframe.  Note that today's AAPL/DIA rally took the...

09Mar11:02 amEST

Swapping One Bear for the Next; Chess Moves

With energy stocks rallying and outperforming today, potentially putting in lower swing highs across the board, I elected to step aside and sold my ERY long (triple-bearish ETF for energy stocks) just below $21 from the $20.37 entry I noted here  for a win. This is a modest but worthwhile win, considering the alpha I pick up by not riding...

09Mar10:28 amEST

A Loose Aggressive Chart; Chess Moves

Into this move lower this morning, I covered half of my LVS short entered on Friday in this blog post , at $53.76 from the $55.34 entry to scale partial gains.  I moved my cover-stop down to my entry price.  LVS could easily just be getting started to the downside. But until we see more confirmation of a broad market correction I am going to...

06Mar3:32 pmEST

I Can Beat My Burrito at Chess; Chess Moves

I went short CMG at $660.16 with a cover-stop over $680. This position equates to roughly 4% of my portfolio capital.  On the weekly chart, below, CMG looks to be struggling in the midpoint of its long-running rising channel (light blue line). On shorter-term timeframes, the stock has been a base breakdown candidate for a while, which I have...

06Mar2:06 pmEST

Going Solo on This One; Chess Moves

First off, I just sold a piece of my SRS long at $12.63 here from $12.03 posted earlier this week  to scale some gains. I now retain about 75% of my original position, with a stop-loss still below $11.50 on this ultra-short REITs ETF.  Next, I went short FB at $80.19 with a cover-stop over $83, a contrarian play and looking to swing it.  FB...

06Mar12:26 pmEST

Has Mr. Rothstein Even Applied for a Gaming License? Chess Moves

I just went short LVS at $55.34 with a cover-stop over $58.70, looking to swing it for another leg down in its current weekly downtrend. This position equates to roughly 4% of my trading portfolio capital.  LVS is a name I have profiled many times over the past year or so as consistently being an actionable short idea. Long-time readers will...

06Mar10:34 amEST

Treat Your Positions as They Treat You; Chess Moves

In the markets, just as in life, it is often best to develop a certain disdain for things and people which do not treat you well--Ignoring them is the best revenge, rather than trying to placate them or stoop down to play on their childish level. For this reason, I religiously cut losers and do not look back. Although you can see how a ticker...

05Mar12:32 pmEST

Pressing for Lethargic Energy Stocks; Chess Moves

I am pressing the energy stocks, housed in the XLE ETF, to resume their downtrend and defy the many calls for a major bottom in place.  As a result, I went long ERY, the triple-bearish ETF for energy stocks, at $20.37 with a protective cover-stop below $19.50.  This position amounts to roughly 4% of my trading portfolio capital. Keying off the...

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