Chess Moves
Showing articles 1 - 20 (188 total)
11Nov12:33 pmEST
Market Chess Prices Are Going Up
Effective January 1st, 2023, prices for Market Chess Subscription Services are going up across the board. This will actually be the first rate increase since the service started. In the eight years (to the date!) since I launched Market Chess, I have held off on raising prices. However, with all of my vendors (video capture, filming,...
01Sep9:24 amEST
Yes, the Bond Market Can Crash
This is worth a re-post, especially in light of the summer rally in both stocks and Treasuries. I am re-posting this not to "pile on" to the recent weakness in TLT (as rates go back up) but rather to reinforce my view that a bond market crash/swoon/substantial move lower from here as rates go higher is absolutely on the table if rates...
17Jun11:15 amEST
A Possible "Home Run" Trade Idea
Back on December 27th, 2021, I sent out the following video in an email to VIP Members inside Market Chess Subscription Services. In the VIP service, we focus on long-term investing plays and strategies, as well as the occasional special situation like the one I outlined below for Treasuries. At the time of this video, TLT was trading at...
02Jan11:10 amEST
Verified Testimonials About Market Chess Subscription Services
With the new year underway, this is a great time to get your trading mindset in the right place. There is no better place to do that than inside Market Chess Subscription Services, where we pride ourselves on delivering value to the Members with actionable ideas, timely (and apolitical) market commentary, a focused atmosphere, and disciplined...
19Oct2:56 pmEST
PRINT VERSION AVAILABLE NOW! My Book, "A Street Smart Guide to Modern Sports Betting"
I know that quite a few of you have been patiently waiting for the paperback version of my new book to be released. Well, that day has come. This book appeals to beginners through experts in sports betting. CLICK HERE TO BUY IT NOW! Thank you to those of you who bought the Kindle version, and for the excellent feedback. If you so choose,...
08Aug10:52 amEST
COMING SOON: My Book About Sports Betting
I am pleased to announce that I am in the final stages of finishing up a side project that I have been working on for quite some time. As you know, sports betting has taken off across the country with a domino-like effect of various state legalizations. The reality is that the ubiquity of sports wagering will only become more prominent in the...
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...
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“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
