Jeff,

This is the two day mid-year FOMC meeting which began today and concludes tomorrow. I think the announcement will be tomorrow (Thursday).

Jeff,
What is Phoenix giving up in the deal
?

Chip, the Fed announcement is at 2:15 EST tomorrow.

Jamie

Addicts,

Just got back to my PC, was out drinking (as per Brett's advice). right now I see 3 trendlines where I should see one, so I am focusing on the one in the middle. Maybe had a Yuengling too many for lunch...

GOOG

My new line in the sand is $520, thats my middle one...maybe when my eyes focus later I'll see things differntley!

I am still holding on to AAPL, my line there is $119.

Still in BSC, it tested my resistance line at about $144ish

ALB, PAY...still short in these

Michelle, hope you held on to CME this morning, it bounced right off my suppoert line at $$527ish..

Brett,

I drank alot in hopes of moving the market along with your analysis.

If it goes up, or down, I fear either way I will be hurling later today!! LOL...

Houston, we are ready for take off.....

Brett,
I started the CNBC game and now I am lying by the pool listening to the Shadow Trader sing the Jefferson's song. Great game!

I think Phoenix should try and get Kobe too!

JWN is looking good down and through long term with a vengeance!

cheers

One too many there Raimo?! :-/\

Although I hope you ARE right!

Yeah, they went down way to easy, especially when the are free...friends in from out of town...jeeeeesh..

So I guess when you have the Addicts over, we need to bring a 'bed on wheels' to get you around, since we'd probably be bringing some 'lubricant' with us?!!!

Yeah, Bob Raimo. I held on. It bounced off just like you said.

Thanks for the take.

Michelle

Bob,
That's where I have one of my lines drawn for GOOG, too. It's holding fine. Of course, I got in at around 514, so I still am in green on that trade, so it's easy to say "fine."

Michelle

Thanks for the charts Jeff ....

Quick question - could you hyperlink those charts so we could CLICK on them and they would open up to full size on our end ... would help to see them better ... I think that it can be done ...

THANKS for your help ... Just a blog improvement suggestion I think ....

Jeff,

If you get the entry signal at the end of the day, do you go in even the Fed announcement tomorrow at 2:15 could turn everything topsy-turvey?

Ron

I wasn't going to add any new trades until after the fed announcement tomorrow but some of these are SOOOO tempting. Been eyeing FCX all day for a long and LVS for a short. What to do???

Also, still on the fence about holding the CLF short put trade or bailing.

Jeff is being prolific today...new post!

Anyone get out of NYX? Hard to keep my finger off the sell button.

DG, that is a tough call on CLF. It is right at support. Broke horizontal resistance with that big white candle on 5/25. Now it sits on that support and at the mid-point of the 5/25 candle. I had bought ITM options so I am staying in.
Everybody is all geared up for the Fed. If I knew what they were going to say I couldn't tell you what the market is going to do. It's not what they say but how the market reacts.
FCX I have ITM the money also and it held my line in the sand. So I stay in.
I said yesterday, remember how ugly it felt on 3/14 when the SPX was below 1375. It felt like the market wanted to hurl. Then look what happened. To me it felt like the same thing today. Hopefully Brett is right with a big move in here.

Jeff, thanks for everything you do. Did that Restless Heart song really give you a sleepless night ?

Jamie

C2, question about a Canadian Company, SU. Do you like a support bounce entry. Using the horizontal support drawn across from the mid-point of the candle on 5/17. Stop at 85.

Jamie

Denise,

I've also been looking at NYX and have been tempted to bail. I keep hearing Jeff's voice in my head saying patience, patience...

Ron

Ron,
I know what you mean - that is exactly what I have been hearing. I have a sept option so I figured I had time to let it bounce around a bit. It was really hard to see those "profits" disappear. I debated because it already made a pretty large move and maybe we are expecting too much. I would be interested in getting everyones feedback on this. This is one of my problem areas.

Hey Grant, I'm with you on MLM. My last MLM trade is what taught me the power of staying with the trend as I exited like a swing trade and have been sitting on the sidelines here for quite a few points.

I wanted to jump in today but the risk all the way down to today's low was too much. If I see it turn up from here, I think 160 looks like good support, but I guess I wanted to see it stop going down.

My fear is that it will get too far away tomorrow, and then I'll be stuck on the side again, but we'll see.

Tim,

I have been sitting on the side too many times lately and decided to just go in when it looks right and the risk/reward is decent. Not sure how your doing things but I decided to do it one option at a time, keep track of when and why on the entry and exit then follow my rules. I feel like if I am scared to get in I'll never get going.

GBHARDCORE

Good point, GB. My uncertainty about the market conditions kept me out today. I didn't want to get too heavily invested. But I may regret it tomorrow. Still learning ...

By the way everyone, I held onto PFCB, KIM, NYX and LCC today.

CEG....

hitting resistance here....

BSC also looking good here......