Stumped

Lack of market action has me itching to take a reader request and offer a post on it. Leave a suggestion or two about what you would like to read about. I was tempted to discuss the Ohio State upset tonight, but I am sure there are no interested parties on this topic besides me.

Recommendation: Get the requests in quickly!

Long: Tennesse Volunteers

Short: UCLA

Jeff,

I would like to hear what you have to say on adding to a position. You bring it up a lot, but I don't understand how to spot a good reason to add. How does that effect your overall risk, for example. Thanks,

m

Hello,
I was just looking at the $XAL and CAL. $XAL has pressed up and fallen back from the 30DMA and CAL is falling back from a retest of the neckline from a confirmed H&S. The May $57.50 look like a pretty decent play considering all the resistance. Any thoughts?
SJE

Jeff:

How about a lesson on futures. I see them listed for Nasdaq, S&P500, and the DOW on CNBC prior to market open and I try to use them to predict how the market is going to do that day. I would like to know your take on this and what symbols can we enter on the prophet charts to track these. Thanks.

lets talk about what you really think about the great anti chartist and market manipulator - Kramer.

"The" Ohio State University will ease into the final 4

Hey Jeff,

I would love to hear about futures as well. Maybe from the TOS side if Investools doesn't support them. Thanks.

Are we in the calm before the storm?

Joel R.
California

SJE,

I entered CAL earlier today. I placed my stop around 41.00 with a target of 35.00.

Amy

The Cramer video is no longer on YouTube. CNBC was probably not too happy to see one of their poster boys describing how hedge funds (Cramer's included) manipulate the stock market.

Anyone know where to get a copy?

Joel R.
California

Jeff,
My pick is the Buckeyes. Then again I picked SII short yesterday......

Ohio Rick

Ohio Rick,

Did you say blackeye??? I too was in SII to bounce back down into that channel.

Here's an idea:

CAL couldn't be a better put play.

Head and shoulders neckline retest...CHECK.

Long-term trendline resistance retest...CHECK.

Huge target...CHECK.

Forgive the morbid thought, but this plane's going down. Mayday!

Here's an idea:

CAL couldn't be a better put play.

Head and shoulders neckline retest...CHECK.

Long-term trendline resistance retest...CHECK.

Huge target...CHECK.

Forgive the morbid thought, but this plane's going down. Mayday!

I guess I am the contrarian indicator. All these individuals took SII as a bearish set-up. Check my archives and you'll see it on my bullish set-up list. Sorry, I didn't mean to be the contrarian!

I looked at SII but saw a bull flag on VLO and took a position on it instead. We'll be cheering for The Ohio State Buckeyes all of the way. GO BUCKS!

Jeff,

I saw your bullish comment on SII but in a go with the trend trade, I saw a greater probability that it would bounce down off resistance as it had 4 or 5 other times in the last 15 months. Please tell me what did you see that would give you the indication that SII would move through resistance this time??? I saw hesitancy as it approached the 45 line of resistance. A down day on higher volume right after it cleared seemed as if it would fail to clear the spike of the 52 week high. I am sure Ohio Rick would love to hear your take as much as me!

Anybody see the chart pattern recognition section now available on optionsXpress? I played with it for about 5 minutes last night and will look into a bit more this weekend. Looks to be a nice addition their tools.

Like Allen, futures would be a good discussion. Interested to see how they factor into daily set-ups/posture/bias. News outlets always report them, but do they really mean anything (to us)?

GO Michigan State!!!! Oh yeah, gone.....

I too would like futures and intraday emini trading. Just heard that again yesterday from Tom at TOS (yes the founder was giving the education yesterday). He said that this is a great intraday market (have we heard that before?). Oh and thanks Jeff I had placed the BNVI limit last night and was only in for a short time this morning to adjust the order and then had to leave. I try it again tomorrow.
Bob H.

Guys,

When playing a channel you need more then just price action, you need to use oscillators for confirmation Because at resistance either the stock will punch through with volume or just bounce down and one day of price movement like a bearish harami is not enough. you need confirmation on that. I have use MACD and STO to verify that. This is wy I generally stay away from playing channels. I am not that good at spoting direction. I need volume and MACD to verify it for me.

Mahmood

I too vote for more intraday trading than futures. Futures is a whole different animal. But how about a lesson on how to fix a bad trade??? Anyone out there have a bad trade that needed fixing?!?!?

to Joel R.

re the Cramer video - he apparently heard about the YouTube circulation. Comments about it today on his site @ thestreet.com
It's a Cramer article: "The least I owe you" that includes a link to the video at the end. "The Street TV" (video clips) often offer interesting information, though not always helpful.

And Jeff, I too vote for some futures education. Thanks for all your insight!!

cindy a.
Texas

Thanks Cindy. That's what I wanted.

Joel R.
California

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  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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