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chessNwine

Full-time stock trader. Follow me here and on 12631

Late Night Strategy for Monday

dGgMi4V

MIK is another recent IPO which could easily attract some long momentum money if the market bounce continues this week. The likes of GPRO MBLY have been at the forefront, but I think this one can run over $18, for a quick pop.

Note the tight basing action on the young daily chart, below. I am still inclined to sell rallies in this market, but agile traders can stalk this one.

Drop me your top tickers overnight.

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MIK

 

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And the Winner Is…

jaelan-strong-arizona-state-hail-mary

Congratulations to long-time iBankCoin reader “Juice” for correctly guessing the mystery chart in my latest Name That Chart post.

The correct answer is that the mystery chart was the monthly timeframe for CP, the large Canadian rail.

Here is what Juice had to say:

CP – Canadian Pacific Railway instead of Canadian National Railway…but tough call on Q4 direction…I’d say lower

What do you think about CP? I still see a very steep but impressive angle of ascent on this timeframe.

The rails have been incredibly strong for quite some time. Can it last too much longer?

Thank you to everyone who played.

I will be back later with ideas for Monday.

But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!

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CP

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Name That Chart

https://www.youtube.com/watch?v=4muh2mJYZZg

Hint this Week: Monthly chart dating back to 2005.

Try to guess:

  1. The ticker symbol of the chart;
  2. The sector in which the stock trades; and
  3. Whether or not you think the stock will move higher or lower to conclude 2014.

Thank you to everyone who has been playing along.

Please click on chart to enlarge

[Members: My latest Weekly Strategy Session has been published]

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2014-10-05_1225

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Saturday Night at Chess Cinemas

straight-time-Dustin-Hoffman-Wallpaper

Straight Time (1978) stars Dustin Hoffman as a career criminal. Seeing a younger Hoffman in one of his grittier roles makes it worthwhile, on top of how well the story flows in this crime/drama.

It is also worth a viewing since it is directed by the highly underrated Ulu Grosbard.

via imdb.com:

After being released on parole, a burglar attempts to go straight, get a regular job, and just go by the rules. He soon finds himself back in jail at the hands of a power-hungry parole officer. When he is released again, he assaults the parole officer, steals his car, and returns to a life of crime.

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The Lake Show

Los-Angeles-Lakers-Kobe-Bryant-May-Be-Back-Sooner-Than-You-Think-650x435

I scaled off another piece of my TKMR long for a 32.8% win from my original entry early this week.

I rotated some money over to another Ebola play, LAKE, which makes those HazMat suits.

The 30-minute chart looks ripe to break higher.

Let’s see if we can get the “Lake Show” going.

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LAKE

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