Chess Moves

Showing articles 101 - 120 (185 total)

03Feb1:41 pmEST

Cutting a Loser and Locking in Airline Winners; Chess Moves

The market continues to be extremely volatile not just on a day-to-day basis, but also intraday as well. As such, there is still a premium being placed on agility and discipline as a trader. We simply need to keep cutting losers quickly, while managing winners effectively. With this in mind, I made the following sales: I sold my TZA long for...

02Feb3:15 pmEST

Trimming Some Fast Gains; Chess Moves

For the sake of discipline in this volatile market, I just sold a piece of NUGT long up here at $19.53 from my posted $18.46 entry earlier today here , to lock in some initial, fast gains. I still, however, have my core position on with a stop-loss below $17.20. Precious metals and especially miners are having a solid day, overall. But more...

02Feb12:07 pmEST

An Attractive Point of Attack; Chess Moves

I went long NUGT again, the triple-long ETF for for the senior gold miners, at $18.46 with a protective stop-loss below $17.20. This position represents roughly 4% of my trading portfolio capital. I have played the gold miners numerous times this year with good results. But, of course, each trade is going to need to stand on its own merits. It...

02Feb10:31 amEST

The Dog Days of Winter; Chess Moves

Charles Barkley once referred to early-February as being the "dog days" of the NBA regular season, meaning that the NBA season had already been in progress for several months, but the end of the season was still too far away to be considered close. In the stock market, February is typically a cold months for prices, in addition to the weather...

30Jan3:44 pmEST

Diving Into Super Bowl Weekend; Chess Moves

With the expansion in price range and volatility in recent weeks, combined with the inability of the market to sustain a rally late this week, I have placed bearish bets into Super Bowl weekend. I went long TZA at $12.83 with a stop-loss below $12, betting on a major breakdown in the Russell 2000 Index next week. This is a triple-levered short...

30Jan2:57 pmEST

Revisiting the Oil Thesis; Chess Moves

I had success shorting major airlines earlier this year under the theory oil would stabilize soon and impact them negatively. In fact, what happened was that oil keep falling, but the airlines fell anyway. Currently, oil is snapping back hard today for a likely bear market short squeeze rally. Major airlines are getting hit, too, even as the...

30Jan11:43 amEST

Just Short It; Chess Moves

I went short NKE here at $92.93 with a cover-stop over $97. The position is roughly 4% of my trading capital. I am playing for a daily chart breakdown from the well-defined descending triangle (light blue lines), seen below. I am also playing for the stock's long-term, abnormally steep trend to break. Simply put, Nike has enjoyed an incredible...

29Jan3:53 pmEST

Cashing Up Into the Bell; Chess Moves

Into the bell, I moved to 100% cash in front of AMZN and GOOGL earnings tonight. I sold the rest of SOXS at $14.32 from $13.99 to lock in the rest of that win after taking profits this morning. I also sold my BIS long at $40.25 from from $40.69 for a very small loss. See you after the bell for my video market recap.  

29Jan11:50 amEST

Closing Out the Jimmy-Two-Times Short; Chess Moves

I sold the rest of my SDS (ultra-short, or "two times" the S&P 500 Index) long at $23.26 from my $21.99 entry to lock in the rest of the win. I have other short exposure on, and the SPY (straight-up long ETF for the S&P) is back down to what should be some minor support here on the 30-minute chart, below. I my very well hop back into SDS later...

29Jan11:04 amEST

Taking Advantage of the Weakness; Chess Moves

I sold a small piece of my SOXS long here at $15.11 from my $13.99 entry from this blog post yesterday . SOXS, is the triple-bearish ETF for the semiconductor sector.  With major component TSM finally cracking today, combined with broad market weakness, the bearish bet is working in my favor. Nonetheless, I am still going to trade around this...

28Jan3:47 pmEST

Chess Moves Into the Bell

I went long BIS $40.69 with a stop-loss below $38.60. Ultra-short biotech ETF. Playing for biotech to either crack now...or never. I sold my SLW long at $22.74 from $23.36 to step out of the way of miners selling and to keep losses small on the downside reversal in the miners.   I also 1/2 of my long SDS long at $23 from $21.99 entry to scale...

28Jan3:24 pmEST

Pressing for the Bear to Catch This Train

The two keys to my SOXS (triple-bearish ETF for semiconductor sector) long can be found in the top two components, INTC TSM, seen on their respective daily charts, below. INTC has been the weak sister, breaking down from the highlight sideways channel, while TSM, the strong one, may be ripe to breakdown from the highlighted rising wedge. If the...

28Jan2:42 pmEST

Baking a Trade with Bittersweet Chips; Chess Moves

I went long SOXS here at $13.99, with a protective stop-loss below $13.20. This is the triple-bearish ETF for the semiconductor sector, a trade idea I have referenced recently. The top two holdings are bittersweet chips, in that they are INTC and TSM. INTC has been quite weak, while TSM has been impressive. I am playing for TSM to follow INTC...

28Jan9:52 amEST

No Dice on Oil; Chess Moves

I stopped myself out of my long UWTI play at $2.61 this morning for a loss, from the $2.78 entry I discussed yesterday . As it turns out, the inverse head and shoulders (or "Sheikh") pattern was a fake-out, leading to a fast move lower. This sort of thing can, of course, happen. But I still believe the trade was worth the risk in the event...

27Jan2:41 pmEST

Taking a Shot at Some Relief; Chess Moves

Consistent with my last blog post, I went long UWTI , the triple-long ETF for crude oil, at $2.78 with a protective stop-loss below $2.60. The U.S. Dollar is selling some profit-taking today, and that typically should bode well for at least some type of relief for the struggling crude. As I have stated before, these levered ETFs are to be taken...

26Jan2:48 pmEST

Back in a Classy Silver Play; Chess Moves

I just went long SLW at $23.36 with a stop-loss below $21.80. This position equates to roughly 4% of my trading portfolio capital. I am playing this premier silver miner to continue to upside. I had previously traded SLW as it tried to emerge from the highlighted inverse head and shoulders bottom, seen on the daily chart, below. Miners have,...

21Jan3:17 pmEST

Simply Trading What I See; Chess Moves

I am long TMV here, at $26.44, with a protective stop-loss below $25. TMV is the triple-bearish ETF for Treasuries, which means I am betting against U.S. bonds. This is not a macro trade, nor a trade for or against Central Bankers around the world. Instead, I am simply trading what I see on that TLT chart I presented to you earlier today. On...

21Jan10:02 amEST

Doing the Sensible Thing; Chess Moves

I sold the final piece of my NUGT long here at $20.92 from my $16.88 entry in this blog post  to lock in the rest of a good win. I took gains along the way and used the strength at the opening bell to sell. I am back to 100% cash now, likely waiting for some better spots to get involved. I still think precious metals and miners are acting...

20Jan3:47 pmEST

Pressing the Eject Button Into the Bell; Chess Moves

I decided to sell my RUSS long for break-even into the close. I am not looking to take overnight risk without much profit cushion there, especially with the headline risks associated with Russia. I may, however, revisit the position tomorrow. I am back to being long solely NUGT, a final piece of a winning position. Ideally, for me, gold miners...

20Jan2:27 pmEST

Hitting Russia Right in the Goldeneye; Chess Moves

With oil remaining weak and vulnerable to washing out again, I went short Russia as a proxy. Specifically, I went long RUSS (the triple- short Russia ETF) at $24.60 for a potential day-trade , may swing overnight. My protective stop-loss is below $23, though I may cut it sooner if it goes against me. This trade is roughly 4% of my trading...

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