Chess Moves

Showing articles 1 - 20 (182 total)

16Apr3:45 pmEST

Turning the Page; Chess Moves

Headed into the launch of Market Chess Subscription Services tonight (more on this in my video market recap after the bell), I am wiping some positions clean.  I sold the remainder of my X long at $26.29 from my $25.40 to lock in the rest of that win after scaling most of it higher yesterday.  I sold my HL long at $3.25 from my $3.32 entry for...

15Apr3:18 pmEST

Down to a Runner; Chess Moves

With the stock continuing to squeeze, I sold another piece of my X long here at $27.58 from my $25.40 entry yesterday to scale more gains. I am now down to about 25% of my original position size with a stop at my entry to protect the win. As tempting as it is to press for a higher move, the fact remains that the energy, materials, and steels...

15Apr2:15 pmEST

Playing the Relatives; Chess Moves

While the GDX and GDXJ ETFs (for the senior and junior gold miners, respectively) negotiate their 50-day moving averages from the underside, I a electing to play a relative strength name in the group. I wart long HL at $3.32 with a stop-loss below $3.10 on a closing basis.  HL is a top two holding in the GDXJ ETF. While it is low-priced, the...

15Apr1:12 pmEST

Down to Half an X Now; Chess Moves

I sold another piece of my X long here at $27.21 from my $25.40 entry to scale more gains into this strength as the stock becomes short-term overbought.  I am raising my stop-loss to my entry price now, and have roughly 1/2 of the original position size.  I am also still short XLU, utilities, and down roughly 1% on the position as the utes...

15Apr11:51 amEST

Scaling a Hot Position; Chess Moves

With my letter X long hitting up through its upper daily chart Bollinger Band (meaning short-term overbought) just now, seen below, I am selling about 1/3 of my position here at $26.88 from my $25.40 entry yesterday to scale gains. My stop-loss is still below $24. X and the steel names are benefitting from the rotation into energy and...

14Apr11:47 amEST

Going Long Steel; Chess Moves

I went long X at $25.40 with a protective stop-loss below $24.  Steel stocks are acting well this morning, and X looks ripe to squeeze the many shorts in the float. More on the steels in a bit.  

13Apr3:50 pmEST

A Quick Shift; Chess Moves

Into the bell, I sold my TMV long (bond short) at $26.90 from my $27.20 entry for a small loss, and rotated it over to the rate-sensitive utes. Specifically, I went short XLU at $44.26 with a stop-lossover $46.  I charted the weak XLU earlier today and will discuss it after the bell in my recap. I think it stands a better chance than the bond...

10Apr12:30 pmEST

Say Hello to Those Hacks for Me; Chess Moves

With HACK, the cybersecurity ETF, having a good week, I went long FEYE on its own merits, too. Specifically, I went long FEYE at $42.03 with a protective stop-loss below $40.  On the daily chart for FEYE, below you can see the attempt to resolve the highlighted falling channel to the upside. The stock has a fair amount of shorts in it to...

09Apr3:54 pmEST

Cutting Dead Weight Into the Bell; Chess Moves

Into the bell, I covered up my AAPL CP MA shorts for small losses, basically 1-2% each. I was not playing them to eat up capital as the market churns buyers and sellers, but rather to see immediate downside. That didn't happen, at least soon enough for me, so I decided to cut and move on.  As it stands, I am long TMV as it looks as though bond...

09Apr2:31 pmEST

Time to Act; Chess Moves

As per my earlier analysis, I went long TMV, the triple-bearish ETF of Treasuries, just above $27.20 earlier with a protective stop-loss below $26.  I am playing for Treasuries to follow the REITs in the IYR ETF lower, keying off of TLT's recent consolidation, too.  Simply put, this bet is that rates will rise while bond prices fall, along with...

09Apr11:15 amEST

Standoff at the Open; Chess Moves

Although it looked like another "here we go again" open higher this morning, sellers presented themselves particularly with the small caps. On the IWM hourly chart, below, ETF for the Russell 2000 Index, we can see the chart consolidating in recent weeks near its all-time highs. But the strength this morning was sold and now we have a potential...

08Apr11:17 amEST

No Dice on This One; Chess Moves

Honoring my planned stop-loss, I sold my UGAZ long (levered long natural gas ETF) at $2.20 from my $2.42 entry for a loss.  On the UNG ETF daily chart, below, the upside breakout to the highlighted (in light blue) wedge failed to sustain itself for a tradable leg higher. Yesterday's initial rally was promising, but sellers proved to be too much...

07Apr3:55 pmEST

Don't Like This Close For These Positions; Chess Moves

Into the bell I elected to sell my P long from earlier at $16.47 from my earlier $16.63 entry for a small loss, roughly 1%. I didn't see the action I wanted to after I bought to swing it overnight.  I also sold the rest of my NUGT long at $10.87 from my $10.31 entry to lock in the rest of that win after scaling profits along the way...

07Apr12:46 pmEST

Going Long a Destitute Stock; Chess Moves

I went long at Pandora at $16.63 with a protective stop-loss below $15.75. Pandora is a hated stock for many reasons, most notably the performance of the stock in recent quarters as well as competition in the online personal radio music business. But I think the stock can squeeze its numerous shorts higher before earnings in a few weeks.  I...

06Apr12:50 pmEST

What's LUV Got to Do with This Rally; Chess Moves

With many airlines and transports in general selling off despite the broad market rally, I am going to take more advantage of it.  I just covered another piece of my LUV short here at $41.13. My initial entry was last week at $43.44, followed by my $42.94 add. I took partial profits this morning, but now the stock is sinking even lower.  I...

06Apr11:44 amEST

A Sultry Move in Gold; Chess Moves

I just sold down another piece of of NUGT long at $11.85 from my $10.31 entry last week to scale profits. NUGT is the triple-levered long ETF derived from the GDX, ETF for the senior gold miners.  I had previously scaled part of the position into initial strength late-last week, and I am now down to 1/3 of my core position size. The original...

06Apr10:21 amEST

Taking Advantage of Turbulence; Chess Moves

After adding to the short on Thursday, I just covered half of my LUV short at $41.77 to scale gains. My initial entry was last week here  at $43.44, followed by my $42.94 add. I also moved my cover-stop down to my original entry price ($43.44).  The current position now equates to roughly 3% of my portfolio capital.  As you know, shorting...

02Apr2:58 pmEST

LUV This Position Short Time; Chess Moves

I decided to add to my open LUV short here, at $42.94, from my initial entry yesterday  at $43.44. My cover-stop remains above $45 on a closing basis.  Southwest Airlines is showing more signs of being a bit sluggish after a breathtakingly steep multi-year uptrend. Regardless of how oil acts from here (a clear input for airlines), I am...

02Apr1:25 pmEST

Closing Out Two Modest Wins; Chess Moves

While not too dramatic, the short biotech trades I put on this week did the trick.  Into the long weekend, I will flatten out and potentially look to hop back in next week, if the situation is correct.  Thus, I sold the remainder of my BIS long (ultra-short biotech sector ETF) just above $35 from my $34.11 entry to lock in the rest of that...

02Apr12:05 pmEST

Another Few Laps at Adult Swim; Chess Moves

I went long UGAZ at $2.42 with a protective stop-loss below $2.20.  UGAZ is the triple-levered long ETF for natural gas, derived from UNG, the straight-up natty ETF. I have been fortunate to lock in some big wins in UGAZ this year, notably in February, despite the steep downtrend natty has been--As I have noted before some of the best rallies...

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9   

This website is intended for educational purposes only. | © 2021 | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site