Out of the Office

Hello there addicts! It's another week, so make sure you have a clear mind and a positive attitude, and let's set our sights to make some money this week. I have some interesting things planned as far as activities and educational posts are concerned, so I can guarantee it will be another good week.

The problem is, I have something I need to take care of today and I might not make it into the office at all today. I won't be able to post until later on this evening, so hopefully you can make a good dialogue without me for a while. The watchilist will still post tomorrow as usual, and feel free to share your ideas until then.

I'll see you all later this evening. Go Warriors.

Hey option addicts..

Maybe it's at my end...but the Investools sight down? AND I can't anyone to answer the phone. Maybe they kicked me out ? :)))

Hey Jeff, don't worry take it easy, we will keep this blog screaming.

Any comments on ACL as a good bounce possibility?

I also like LOW bearish, although they report after expiration this month I think HD reports on expiration this month and a bad call by either could bring it down, housing is not helping those companies.
Also CRS had a great quarter too.

Deck is screaming

David S

Investools was working fine this morning and now I am down too. The site will only allow me on the subsription page like I have to pay again!

Is anybody else having trouble with Investools?

Can' log on now

David S

DECK is rocking the house!

David, LOW looks like a good desc tri setup, but 1) very low reward on the move and 2) earnings soon. i think there's better bearish plays out there.

Check out CME. Broke the big triangle, straight down (flagpole) and a little uptrending consolidation here. $530 is acting as resistance and if you catch a sharp break lower, you're looking at a $40 move (just on the flag). I think there's maybe $20 more in there from the triangle.


I am experiencing the same with InvesTools, looks like the site and their phones are down. I'm sure they're scrambling and will have them back up sometime today.

Must be some technical issue in a major way. We all have the same problem and the phones are down. I'm getting the same message about the subscription page.

I've tried every number I could find including cells of some contacts in the company....nothing

___________________THE SKY IS FALLING___________________

Oh wait, it's just that my underwear's too tight. Same problem with investools. I was just checking out some stocks and POOF!!! I need to sign up and pay more money. Kind of like a parking meter gone haywire.

The only good news for me is that TSO is offsetting my losses on WCG. Why oh why didn't I bail on WCG last week? Dare I say "emotion?" The trend was sooooo strong I just refused to believe it was reversing.

And then there's DRYS.

Is anyone looking at VCLK or ARD, and is anyone still holding PCP.


Got into DRYS last week...I love it!

SPF looks like it's continuing its beautiful downward trend.

Hey, anyone find it coincidental that Investools is having problems, phone aren't working either AND Jeff is "out of the office"?! Nah, just a coincidence...

Looks like Investools falls apart without Jeff in the office. Good thing TOS has Prophet charts now. Only thing is that I have not setup my studies and cannot remember how I did it now.
Oh yes I am still in PCP too.

Glad to hear I am not the only one on the IT site having problems...GO PISTONS!!!

I heard that Japanese markets were closed today for a holiday, so maybe Investools decided to observe that as well.

Chip I hate you. I got out of DRYS last Monday because it looked like it was going to head down for a bit (one day, as it turned out.) I still made a good profit but.... Oh well, once it's sold, it's sold.

Glenn, we're still in PCP. Wanted to look a DE today and SPF. Can't get into investools though and don't want to jump in blindly... Hmmm what to do?

I wonder if Jeff drives one of them fancy eeeeeelectric cars and popped a fuse at Investools. Or worse, left it plugged in and drove off.

Due my HUGE pull with IT you can now get in...Ok really it just came up.

Looks like everyone is having the exact same problem - I was pretty sure I didn't need to renew as I just signed up for the Masters program at the end of December. I'm watching my list over at Yahoo Finance until Investools comes back up. Not in real time, though.

I bought TSO early this morning - so far, so good.

John M.

Investools is back up.

Chris & Catherine...we've all been there. Normally I would not get into a long uptrend like that, although it has been so strong, I chose to take a risk with a tight stop (on paper) and see what happens. Looks like it's paying off. There are more trades out there...go get 'em!

You are making me look bad buddy as I should be using Bob and Pam or is it Pam and Bob and have a picture up of both of us but thought well I am the one on the blog most often so limit the confusion. If you see my posts change to Pam and Bob you know what happened...just kidding dear!

I traded PCP about a year ago and it did well. I am still looking for a move to above 107 prior to earnings.

Bob thank you for using your super powers to restore Investools to its former glory.


Yeah, I got stopped out of TSO at $108. I'm so happy.

I'm still holding PCP, HWCC, WNR, FRG. Though I'm getting unhappy with FRG. MikeH

Bob H... I feel your pain. I just set it up this way to make life easier when Catherine gets spooled up and takes over. She's got the hammer out from time to time and threatens my larger forehead frequently (especially when things like WCG happen.)

TSO is on an absolute tear today. Makes DECK look like a slacker.

Got in to IT but it won't give me any graphs or anything. Ooops, my bad. As I say that I'm now fully functional (just don't ask Catherine...)

I've got to head out to Calgary in an hour, so I'm going to take my money and run, for the day.

Good hunting, all

UTX rolling over!

Anyone looking for a lesson in patience ought to look at EDU and NICE today.

Hi everyone,

I had the same trouble with setting up the prophet charts on the think or swim site. I finally got what I wanted on drawing tools, and other, for the chart color. For a minute I was sure I was done trading for the day.

By the way I'm still holding on to xhb, it's been following it's former pattern during related earnings announcements, and I believe it will still hit 33 or 32.

Brett thanks for the encouragement on cme.


Hey Brett: do you still think EDU is going to materialize the triangle. I think this is a good entry that line of support is now your get out signal and maybe it is just profit taking. Do you still like the trade?

I also like BNVI I see a reverse head and shoulder up 10 percent today.

I am a little scared of this market right now, too strong and it needs to breathe


EDU's back above its trendline, but i'd wait until the end of the day to see if i'm even still in the trade. Yes, this *could* be an ideal entry but what a volatile day so far.

Is anyone following WCG it has been halted!!! They released earnings and have spectacular results. We will see how it is handled. They are also increasing guidance

We shall see Brett you are right crazy day, that is why I am nervous
David S

If you are willing to lose a small amount of money I would put it on WCG. It was downgraded because they were afraid of the current and future results. THey just came out with the earnings and they seem to be great. All those people that sold are now going to be back in, especially the funds it might take them a couple of days. I think you have a good probability, please make sure you make your own decision.

Anybody on this subject?

David S


Be careful on earnings releases, great earning are good, but investors are looking at future prospects even more.

WCG is still headed down. If the future outlook were being received well and the conference has already taken place, it would likely be heading back up.

I got out late on Friday and am happy I did. Will definitely wait and see...doesn't look good though.

Good luck if you're still in...be careful...

I maintain that i'm watching WCG for a consolidation and then i'm going to catch the next leg down. Check out the strong trend broken and the size of this flagpole. If you take the long side you're trying to catch a falling anvil.

Addicts, i have 3 setups i'm working on now and when they confirm, i'll post them here. Look for my post around 2:00-2:30 pm CST (that's CHICAGO BULLS TIME for those of you keeping score at home).

BNVI up great!

Josh Black continues to call this one correct. Hope this is insider action on pending Phase 2 drug results.


I hate to say this but that is one fugly candle on CMG today. right at a prior high.


Looks like a good call on WCG. Keep us apprised on that situation, I'd like to jump in on that too.

BTW, David, I feel your pain, I had an anvil dropped on me today with POT...

Keep an eye on WCG, we will see what happens.

Also PSA is finally moving down to 94 area. BUD also is braking support but may be oversold

I like BAM and keeping an eye on MON
David S

Anyone in DKS? I played the support bounce, but now it looks like it might be caught under the 30 day MA. This looks like the same set up on FDS at the end of March.

Alright boys, it's go time:

AVB (Jeff's been watching this one) confirmed a massive h&s today

AVY confirmed a desc triangle today.

Any thoughts on ISIL? Not looking too good.

Dallas (c'mon, Mav's...)


what is your take on CMG..I am still long in it from 3/1

Tough call, Bob. I sold it today because i don't like that engulfing candle at resistance just before earnings. However, it's holding it's trendline.

take a look at PENN for a potential MONSTER flag breakout.


What are you looking at as a target on AVB?

Trent, ISIL looks to be consolidating. I'm still hanging in there...

How about the break of desc triangle with volume today on AVB. $25 target to the downside over 3 months. Earnings not until late July.

Each time I pull up prophet chart on invsetools and detach it shuts down...new lap top, is anyone else experiencing this..I know the site had issues this AM.
Ladd, Cedar Rapids, IA

Well HWCC finally started to move and now it all goes Poof today and stopped out. As I was working my other job I missed it, so I guess today I am thankful for my stop.
IT is acting up today it seems.

Anyone's thoughts on ENR and a flag break?
Ladd, Cedar Rapids

AVB: I dunno, did you see those spreads? Too much for my blood...

PLCE is showing a nice bearish entry again.

Chris, I agree on AVB spreads...

amy, i have DKS. it's pulling back right to my exit point, but hasn't gone through it. i'll probably stay with it today. but i'm in it with stock so i can afford to give it time.

i agree though that it looks a little bit like fds.

I'm also in HWCC and I think I'm holding on. I employed the much talked about ATR method to calculate a stop for today and it's staying above that point, which also just happens to be support from the previous high. Will keep a close watch on it tomorrow.

No new trades for me today. Haven't found anything compelling for my rules. AVB I love but I'm playing bounces only right now. Wish I would have taken that one at the top. I remember considering it but I think the bid/ask spreads and low liquidity kept me out.

Fortunately for all of you who took it, you are almost guaranteed a win. Since I am passing on it, it is sure to gap down 25 points overnight.

Flag breakout on AH today. Great volume supporting it in a down overall market day.

You don't like the spreads on AVB? How about the $100 price target?


What month and stike are you looking at for AVB


I found JTX last week and was watching this stock as a bearish play. I almost bought it on Thursday but wanted to see it break down below the short term support. I was away all day on Friday so I missed the big move down.

Now I wonder if I have missed out on a good entry or not. There are times like these that I wonder if getting into the trade and riding it down to the next level of resistance to see if we break through it or not OR should I wait for that confirmation through the next level of support?

I have pro's and con's for each. What say you????


Anyones having problems with Think or swim? Wow maybe its just my pc.


correction, after my last post, things started heading down again. i exited DKS and HWCC at end of day. both were marginal and tough calls. both i will probably regret tomorrow. we'll see. at least i had a decent profit on HWCC. DKS never got moving for me. i would reenter if it bounces again.

Gary, I am not one of the great ones. But I will take a stab at it.

Jtx I like it I can see a small head and shoulder pattern but it only calls for a small move. Usually a lot of traders like to take the trade when it comes back to the neck line and it goes down from there. What I like about the trade there is nothing on the way for it to continue down except some support at $27. After that you have to go on the two year chart to find good support at 25. IF the head and shoulder re tests or it crosses 27 with nice volume I like it, I put it on my watch list. If you are not sure don't take the trade and it is better that you don't watch it during the day, go by closing prices it works better for me that way. (use stop losses etc)

You may get a move to only 25.

Lets see what others say

David S


AH looks like a good move, will see what the market and AH do tomorrow to enter.

As far as AVB, yes the $100 target looks GREAT...can I get some peanut butter and jelly with that spread?!!! Otherwise, I'll probably be in...

Thanks for your analysis!

What do you guys think about BBY today? Bought some puts at the close on the slight sym triangle break. I think it's going to be a big winner.

BBY: After-Hours trading has it going down even more. Looks like great potential.

Brett, I have had BBY on my watch list for a while. Didn't take the trade up at 49 when it bounced down, I think because of the recent higher high. But didn't think to look at it as a sym triangle. That works and i think this has some room to move.

Chip and Tim,

Circuit City warned after the bell and withdrew their guidance. Something about plasma tv sales slowing. Not good news for BBY and the bid ask is low after hours. Hopefully some addicts will have time to get in tomorrow, but if not, i'll carry the torch for you guys!

Hey Brett,

Yes, CC withdrew their earnings outlook and no it doesn't look good for them. Since BBY has further to drop, it will likely be a better play.

And don't worry, I don't think you'll have to play the Statue of Liberty with the torch!

Thanks for your concern! LoL

Mike H.
Did you stay in FRG? I think it is ready to take off again. Beautiful hammer today right at the 40 day MA.


is there a cup & handle forming on CROX........

Is BBY in a sym triangle? I have a trend line that actually starts in Aug 2004 that also hits the first part of Mar, the middle of Apr and today. The upper trend line starts in the middle of Feb.

Bob S,

HOG..bouncing off an inverted H & S the next day or so..

Good Morning
Any bearish plays anybody?
Low looks good

David S

let's make some money write it down make it happen!!

my god!!! what did you people do to the market yesterday afternoon?!?! Emerged down slightly in options but got hammered in my 401k. POT and GT were the culprits (and of course WCG... the little ba$@##d.)

CC sure took a beating this morning, managed to get into BBY before it headed too much lower. Keep the fingers crossed. Bob R... I like the look of HOG too. An excellent entry today, I think. I'm going to keep watching it 'til the end of the day.

PENN's going well today, but VV so far is just average. Sure like the play, though.

Brett, I'm assuming the strike at PCU will have the same result that the strike and derailments have had on CNI (they had another one on the weekend, by the way.) So far it's not behaving, but I will keep the faith (for a short while... then it's OFF WITH IT'S HEAD!!!)

I'm likin' CME & AVB today!

I am jumping on HOG now...

I like HOG bouncing off $63....any close below that I'll get out, so I see a minimal risk here for an entry..and I like its strength so far today ..

wow - what's happening with BUCY? Got kicked out this am - small profit.

GS..keeping an eye this as well for an entry..

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About me

  • I'm Option Addict
  • 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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