Chess Moves

Showing articles 161 - 180 (188 total)

30Dec3:38 pmEST

My Portfolio, Please Step Into My Office; Chess Moves

"Youah fiyhad!" Headed into the last day of 2014, I am not impressed with my portfolio holdings. They are not cratering on me, but they are taking too long to get moving in my direction. So I decided to fire them and move to 100% cash. Thus, I covered UNP for a small loss, sold my TBT long for a small win on my core entry, and sold UGAZ for a...

30Dec2:25 pmEST

A Mixed Bag of Popcorn; Chess Moves

I sold my CORN long at $27.20 here, from the $27.25 entry I noted in this post , for basically scratch. The corn long, as usual, took its time to get going but could not hold over $27.70 to sustain any kind of upside traction. So, into the New Year I am lightening up the sluggish positions and possibly revisit them if they gain back their...

29Dec12:29 pmEST

Dueling with a Familiar Foe; Chess Moves

I noted on Stocktwits and Twitter a few moments ago ( @chessNwine ) that I went long UGAZ at $4.96 with protective stop-loss below $4.70. The position represents roughly 4% of my trading portfolio capital. I plan on swinging the trade for a few days if it goes according to plan, which is a steady move higher. UGAZ is the triple-long natural...

23Dec12:48 pmEST

Adding to an Open Position; Chess Moves

I added to my existing TBT long just now, at $47.38, after the core $46.46 entry noted in this blog post . My protective stop-loss is still below $45, in the event the trade turns against me. This position now represents roughly 6% of my trading portfolio capital. TBT is the ultra-short ETF for Treasuries. In essence, I am betting against...

17Dec3:48 pmEST

Off to Battle Again; Chess Moves

Into the bell, I went long TBT (the ultra-short Treasuries ETF) at $46.46, with a protective stop-loss below $45. This position represents 4% of my trading portfolio capital. More on this trade and equities in my video market recap after the bell. See you there.

17Dec11:15 amEST

Cutting a Gourmet Loss; Chess Moves

No dice on the coffee long starter position I took the other day, with the JO ETN failing to hold recent lows. As a result, I closed out my position just above $31.30 from the $32.77 entry I posted the other day for a loss. I am honoring my stop-loss as the thesis for the trade is being proven wrong by the market with price losing Monday's...

15Dec3:50 pmEST

Moving Through the Commodity Complex; Chess Moves

After selling above $25 to scale partial gains, my ultra-long gold position, DGP, has come cratering down today. With a small loss now, I sold the final piece of the position at $23.90 from my $24.12 entry. The loss is quite small. And considering I got out with wins in NUGT early last week and the first piece of DGP, I am pleased to have...

12Dec3:30 pmEST

Rain is a Good Thing; Chess Moves

As per the bullish setup I posted the other day on Stocktwits, I went long CORN at $27.25 just now, placing 4% of my trading portfolio capital in the position. My stop-loss would be if we see a close under $26. Back in a bit with the chart update.

12Dec1:52 pmEST

Update on a Chess Piece

I am still short the mega rail UNP, representing about 6% of my trading portfolio capital. I have cushion on my initial entry, above $118. On the updated daily chart, below, you can see the rail flipping back to nearly flat after a bounce at the open. I am sticking with the short because I view the highlighted consolidation as being a "bear...

11Dec10:25 amEST

Cutting Two Early Losers; Chess Moves

As you might imagine, I do not like the action in both natural gas and the biotechnology sector this morning, relative to the long and short positions I hold in each, respectively. Because my style is to religiously keep losses contained, I cut both positions here. I sold UGAZ in front of the natural gas inventory report at $8.68 from the $9.04...

10Dec3:12 pmEST

Making More Chess Moves

I closed out the rest of my NUGT long at $13.20, from my $13.09 entry, to avoid turning a winner into a loser. Yesterday, I took off part of the nice win in this blog post . As usual, precious metals and miners are tough to trade, which is why I am so fastidious about staying disciplined with them. I also went long BIS, the ultra-short...

10Dec2:04 pmEST

Adding to a Winner; Chess Moves

I added more to my UNP short position, marking it up to a 6% portfolio position now. I added to the short, just now, at  $113.72 after my original entry at $118.73 in this blog post . Rails continue to get hit. And the UNP hourly chart, below, is flashing signs of breaking down below a bear pennant pattern (highlighted). I am keeping my...

10Dec1:12 pmEST

Swimming with Sharks; Chess Moves

Natural gas has been a tough one to trade for a while now. But I am fortunate to have taken down some big winners in the UGAZ, triple-long natural gas ETF, in many instances over the past year or two due to disciplined trading, technicals, and strict stop-loss adherence. With this in mind, I went long UGAZ at $9.04 with a protective stop-loss...

09Dec3:47 pmEST

Scaling Some Fast Gains; Chess Moves

As per my trades posted here yesterday, I sold 1/2 of DGP and 1/2 of NUGT, both long positions, levered to gold and the gold miners. I sold 1/2 of DGP at $25.37 from the $24.13 entry yesterday, moving my stop up to break-even. The position is now 2% of my portfolio. I sold 1/2 of NUGT at $14.45 from the $13.09 entry yesterday I blogged...

08Dec3:58 pmEST

Going Long the Miners; Chess Moves

In addition to going long the yellow metal itself, which I discussed in my last blog post here , I am now long the gold miners. I placed 4% of my trading portfolio capital into a long NUGT position. NUGT is the triple-long senior gold miner ETF. Gold miners reversed higher this afternoon, following gold itself higher. And I am playing for...

08Dec2:10 pmEST

Kiss That Frog; Chess Moves

I just placed 4% of my trading portfolio capital into long DGP position, which is the ultra-long gold ETF. The yellow precious metal is still routinely mocked, as are gold bugs. But recent lows appear to be holding, and gold is outperforming the entire precious metals and miners complex. I entered the trade at $24.13 with a stop-loss below $22...

05Dec3:42 pmEST

The Last Good Train Ride; Chess Moves

Headed into the weekend, I placed 4% of my trading portfolio capital into a short Union Pacific position, at $118.73, with a cover-stop over $124. I playing for the stock to at least hit $110, if not lower, before earnings in late-January 2015. I have shorted this multi-year winning mega rail a few times in recent quarters with mixed results....

03Dec3:50 pmEST

Flattening Out Into the Bell; Chess Moves

With major Nasdaq component AAPL regaining $116 into the bell, it appears, I elected to cut my starter position in SQQQ (ultra-short ETF of the QQQ) at $28.65 from my $29.23 entry for a loss. The theory behind the trade was that the Nasdaq would pull in more immediately. But even with premier names like AMZN pulling back, the Nazzy held in...

01Dec3:41 pmEST

Making a Move on the Nasdaq; Chess Moves

I placed 4% of my trading portfolio capital into a long SQQQ position, just now, at $29.23. SQQQ is the ultra-short Nasdaq ETF. I am playing for major Nasdaq components, such as AAPL GOOG, among others, to pull back in the coming days, dragging the Nasdaq down with them and their heavy weighings. My protective stop-loss on the trade is if SQQQ...

01Dec9:55 amEST

Locking in the Rest of an Energy Winner; Chess Moves

I sold the rest of my ERY long (triple-short energy sector ETF) at $22.21 just now, closing out the final 2% portfolio position it was. I had previously taken partial profits at at $21.66 from my $18.32 entry discussed in this blog post . Energy stocks are trying to bounce fem oversold conditions this morning, which is enough for me to step...

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