Chess Moves

Showing articles 141 - 160 (188 total)

12Jan3:43 pmEST

Next Case!

Despite a gap down in the natural gas trade, which I quickly cut out of this morning, it was a good day of trading with the big JNUG win, AAL LOW TSLA V gains on the short side, and a winning UVXY Day-trade long (I did stop out of the final piece at around breakeven after scaling a win initially). Equities, as a whole, suffered more selling...

12Jan2:57 pmEST

The Best Nation in the World is Rotation; Chess Moves

First and foremost, I scaled off a piece of my UVXY long at at $29.14 from $28.32 entry earlier today noted here . I trailed up my stop-loss to my entry price. Next, I went long USLV at $22.26. USLV is the triple-long silver ETF. With the big run-up in the gold miners today, especially our juniors in JNUG, I am playing for some rotation...

12Jan2:09 pmEST

More Scaling, More Trailing; Chess Moves

For the sake of discipline, I scaled off another small piece of my JNUG long at $42.30 just now, from Friday's $35.59 entry noted here , and prior gains I locked in this morning at $39.33 in this blog post . I now have a small "runner' position left on, just in case the miners go completely bonkers to the upside and shock the world this...

12Jan1:36 pmEST

In for a Quickie; Chess Moves

I went long UVXY, the ultra-long volatility ETF, at $28.32 with a protective stop-loss below $27. This position is about 4% of my capital. And I may very well day-trade it before the session is over. Volatility did a good job of digesting its morning gap up without giving much back, seen on the 30-minute chart, below. I am playing for an uptick...

12Jan11:21 amEST

Scale and Trail, Baby. Scale and Trail; Chess Moves

With GDXJ (and JNUG) now quickly hitting it upper daily chart Bollinger Band, I am now up big on my JNUG long in a very short period of time with overbought conditions in play. I still think the junior gold miners can lead the precious complex higher. But discipline is forcing me to scale partial gains here, at $39.33 from Friday's $35.59 entry...

12Jan10:34 amEST

Ride the Winners, Cut the Loser; Chess Moves

On the whole, it is a good morning for my portfolio, with AAL TSLA UAL shorts working nicely to the downside while my JNUG long is moving well upside. However, a sore spot is the performance in natural gas, which stopped me out above $3.60 on the UGAZ ETF for a loss from my $4.07 entry the other day. Natty is a volatile one, and this move down...

09Jan2:55 pmEST

Back in the Miners; Chess Moves

After selling NUGT SLW for wins earlier this week, I just went long JNUG, the triple-long junior gold miner ETF. JNUG is a volatile one, even more than NUGT, for example. Nonetheless, I am impressed with the bears' failure to take down the miners this week after a sharp prior run-up. I am positioning for a secondary leg higher in the precious...

09Jan2:01 pmEST

Doubling Up on the Bearish Airline Thesis; Chess Moves

I went short UAL at $65.13 with a protective cover stop-loss above $68. This is roughly 4% of my trading portfolio capital, as I am pressing the bearish airlines bet alongside my current AAL short. On the daily chart, below, note UAL leaning down against well-defined trend support (light blue line). In addition to the long-term overhead supply...

09Jan11:55 amEST

Back in Natty; Chess Moves

I just went long UGAZ, the triple-long natural gas ETF, at $4.07 with a protective stop-loss below $3.80. The position amounts to roughly 4% of my trading portfolio capital. I have played UGAZ for quick-hitters over the past year or two, capturing sizable pops and religious cutting it those times I was wrong for contained losses. While many...

09Jan11:09 amEST

Going Short Tesla Motors; Chess Moves

I went short TSLA at $206.55, with a protective cover-stop loss over $217. The position is 4% of my trading portfolio. My reasoning behind the trade is under the theory that this momentum darling is operating below a declining 200-day moving average and could easily have just put in a lower swing high before rolling back over. Cheaper oil could...

08Jan3:42 pmEST

Closing Out A Few Winners Into the Bell; Chess Moves

Into the closing bell, I closed out a few winning positions. I covered the rest of my GOOG short $502.93 from my original core entry above $524 and an add in the $516 handle. The stock is staging a reversal on some bad news (for the stock) today, which typically means sellers are short-term exhausted. I sold the rest of my NUGT long at $13.50...

08Jan10:32 amEST

Locking in Part of the Google Short; Chess Moves

With GOOG red while the market is surging higher, again, I am electing to cover part of my GOOG short here at $497.50 to lock in partial gains. I entered the short up at $524.41 for my core position, and added to it at $516.46 (see this post ). I moved my stop-loss down to my core entry for the rest of my position. Google now looks to be...

06Jan11:06 amEST

Pressing a Bet; Chess Moves

With the trade thus far working in my favor, and the market cooperating for shorts, I added to my GOOG short here at $516.46. Back on Friday in this blog post , I entered the trade at $524.41, playing for a breakdown to fresh 52-week lows. The position was roughly 4% of my trading capital, with a protective stop-loss above $540. The position...

06Jan11:01 amEST

My Way of Playing Oil to Stabilize Soon; Chess Moves

I went short AAL, a major airline, in lieu of trying to catch the falling knife that has become crude oil. On a standalone basis, AAL looks ripe to follow some other major airlines lower today from its extended conditions on virtually all timeframes. But if crude can at least find a temporary low soon, or stop going down altogether, then...

06Jan10:21 amEST

Scale and Trail a Winner; Chess Moves

Into this opening pop higher in metals and miners this morning, I sold half of my NUGT long at $14.47. I announced an entry into a long NUGT position yesterday in this blog post . My entry was down at $12.84. So I will now trail up my protective stop-loss to that entry price. I may very well add back to NUGT. But trading around such a...

05Jan3:09 pmEST

Back on the Bus; Chess Moves

With the GDX, senior gold miner ETF, back over its 50-day moving average to little fanfare today, I went long NUGT (the triple-long miner ETF) at $12.84. NUGT is a fast-moving instrument with tons of gaps and mind-numbing volatility. But I like the setup both technically, with the miners failing to break down to fresh bear market lows in recent...

05Jan11:22 amEST

A Fresh Trade; Chess Moves

I went short Visa at $260.30 just now, placing 4% of my trading portfolio capital into the name. I am playing for the rising channel, seen below on the daily chart, to resolve lower and break down. My cover-stop is above $270, in order to mitigate the risk in the trade. Major credit cards have been multi-year winners. I was wildly bullish,...

02Jan2:39 pmEST

We All Have it Coming, Kid; Chess Moves

I went short LOW, as per my earlier post today, at $67.65. The position is roughly 4% of trading capital, with a protective stop-loss above $69.70 (recent highs). LOW looks ripe to finish out this week with a week chart "shooting star" bearish reversal candlestick after prior steep uptrend, seen below on the weekly timeframe. My risk is...

02Jan1:45 pmEST

Going Short a Premier Name; Chess Moves

With today's weakness, I am picking on one of the premier issues in the Nasdaq and the entire market--Google. I went short GOOG at $524.41, playing for a breakdown to fresh 52-week lows. The position is roughly 4% of my trading capital, with a protective stop-loss above $540. In order for the short to work well, GOOG likely needs to lose $523,...

02Jan11:15 amEST

Be a Leader; Chess Moves

I went long SLW, premier silver miner Silver Wheaton, at $20.69 just now, placing 4% of my trading portfolio capital in the name. My protective stop-loss is set below $19.80. I am impressed with the upside reversals in the precious metals and miners this morning, while equities in general have reversed lower. Metals and miners have been sloppy...

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