DECENDING TRIANGLES, (COO)(DELL)
LOOKS LIKE BEARISH IS THE NEW FLAVOR. STEVE.L

Hope you had a precious and a memorable time with Jordan baby.. Welcome back, Jeff..

--thanks, Meena

Hey Jeff,
Is it a bad idea to trade off of a 60 day/2 hour chart? ICE confirmed a short term H & S on Friday and may be retesting today, and ATI today confirming a H & S if it stays below $96, but the last shoulder was very short. The volume seems to validate the patterns, but they don't look the same on the daily charts? Just wondering how you would look at it.
Congrats to you and your wife on your new baby!

Jeff,
Welcome back, we've missed you. Thank goodness for Marketcast. It's been an interesting ride and we've jumped off the train. We're totally liquid right now. What with the impending vacation and the wild ride of the last week... we're stepping back and taking a couple of Options books with us to Mexico and hoping to come back wiser investors. Couldn't come back much dumber (although there may be a few brain cells killed during the vacation.)
We've learned a lot over the past two weeks (counting the 3 days in Orlando) most of which involves "How to lose money." We will take our trading journal to Mexico, cover it in suntan oil, and light it on fire. Burn baby, burn!
Meanwhile a couple of puts to look at are SRX and AVID. Both at the top of a descending channel. But I'm not convinced the downward spiral will continue. The economic fundamentals are too strong right now. This is why we will sit out the next two weeks in cash. When we come back we expect great things from everyone. Including us. We will be transformed into trading geniuses (geniui?) and get a tan, to boot. How perfect is that?
Good luck to all and especially Jordan, Jeff and Amber.
Chris and Catherine

like AMD for shorting...and CAI

Jeff,
Another one to have a look at is one of my old favourites BXP. I believe you called our trade on this "pure genius!" (or was that the voices in my head again.) I lost a bunch on it as it's headed down, and it now seems firmly entrenched in a downward trend.
Do you see anything in it?
Chris and Catherine

I couldn't help myself bought an april put on FFIV. Looks like a topping pattern. target 66.

Any thoughts?

Sarah

Hello Jeff,

Welcome back.

How about those subprime lenders (New Century - New, Novastar - NFI, Lenders Accredited - LEND and the one that's helping my portfolio recover from last week Indymac - NDE) all of them getting hammered this morning.

In case anyone missed the news HSBC reported losing 10.5 billion (with a B) last year in bad mortgages, funded in part by the subprime lenders above. Where will the carnage end? Novastar and New Century are trading like the end may be near.

Otherwise, I'm waiting for the next wave of setups.

Joel R.
California

Jeff,
Great to have you back. It is amazing being a new investor and new to your Blog how much I rely on it now. Chris and Catherine if we did not have young kids we would join you as we seem to have had the same ride over the last week. All my long trades have stopped out and even a couple shorts that somehow in a down market reversed and went up...I am so confused. Pam and I have only three short (small) positions left. We could really use some great trades to begin to dig out of this hole. No geniuses here in our first month of trading.
Bob H.
CA

Welcome back Jeff,

FNM appears to be breaking below support finally around 55$. Is this finally beginning to participate in the worry over sub-primes?

MikeH

NEW - Wow! BK announced! Wish I was in it.
Bob H.
CA

I did some homework and if the market is in fact changing direction(yes)and financials are going to take the hardest hit,at least until interest rates get lowered(june)here are some names with some room to move(down)
NCC,WFC,UMPQ,VLY,MTB,CFR,PBKS,CBH,
MI,PRSR,STI,USB. AS THE KRAMMER I LIKE(FROM SEINFELD OR BRETT)SAYS
GIDEYUP. STEVE. L

GGP and EXP are great double tops confirming today. Though if the last 2 weeks are any indication of my performance, you should probably buy as many calls on them as you can afford.

I had/have puts on NDE - LEND - and CAL - Also have some long stock in GLD. I have to say I went to work smiling and whistling. Came home Singing ;-) I have gotten back about 70% of last weeks losses.
Everyone of my position both winners and losers I havebeen trading with a smile on my face and the thought that they will be fruitful. The ones that aren't fruitful get beaten like a dog that won't hunt.