I wish i could make that one!! would be good to meet ya'all

Heheh.. ohh check out SWN - look like a potential support bounce, stoc/rsi in undersold poistions and also on friday the international energy agency monthly report comes out with updated stockpile /useage info. see what u think :)

Jeff,

I'll be moving away from Mississippi in that timeframe, so can't attend, although will expect all those that are there to have a great OA Fest!

Raimo,

There's no BSC "Panic Button" on my desk...oh jeez...what do I do now...cr@p...I'll just have to hold! Was planning on it anyway, thanks!

COH has been bagged, I'll watch for a potential later entry...still going up, along with everything else!

Even BNVI is going up today for the first time in 13 days...it's a $0.15 rally baby!!!

Ladd,
Thanks for the Clean Cups call!

Jeff,
Wish I could be there. I volunteer to host an OA meeting for anyone who comes S. Florida.

Bailed on PAY and JOSB today. Still holding BSC, KIM, AIV, POT, JOYG and of course, CAT.
BUt I am hurting today big time. It's amazing that my account can be down so much on a day like today. Waaahhh!

Holy blogging,
I left the house before the opening bell, all caught up on the posts....now, not sooo much.
Jeff, how many hits is this thing getting these days??
Good work all

Look at AAPL here at the end, love it. My Dr. keeps telling me I need more fruits...

Jeff I think this just proves John Logan's point. It's not your participation that affects traffic on the blog, it's the type of day on the market. I know I could talk all day when my account's up 14% in one day. But I get pretty quiet and grumpy (Mr Grumpy Pants, I believe is what my daughters call me.... but not to my face, of course) on the down days.

I'm thinking if we were to call this the "iblog" we could double traffic.

Off to Halifax tonight. I will forward a photo from there to start the whole "Traveling Addicts" theme.

Wow, what a day. I took some profits and pulled up stops on good movers. I expect after a day like today we can bet on a pull-back in the near future. It's nice to see a good bull day like today. Woo-hoo.

Michelle
P.S. Anyone else have trouble with Options Express. It was so slow towards the end of the day that I had a hard time closing some trades

I was pondering going to Chicago ONLY to meet all the Option Addicts, but I'm not going to make it. If we do decide to plan some kind of Option Addicts conclave (perhaps in Vegas???) I'll be there in a heartbeat. I am indebted to INVESTools, but it seems like too much money for what they offer.

Wow! even some of my crappy positions look good, now I'm really confused! SPX, DOW,DIA, broke new high's today, what in store for tomorrow? Anybody venture to say?

I echo Bretts comments...

Bob,
What were Brett's comments? The blog has been so busy today that I've lost track of who said what and when.

Michelle

Bob,
What were Brett's comments? The blog has been so busy today that I've lost track of who said what and when.

Michelle

Brett, I second your vote! My wife and I went to Orlando this past winter. I really would like to meet everyone on the blog, to put faces with names and to share are common interests. Wer'e going to Las Vegas in the fall but certianly could be convinced to go again.

Michelle,

Bretts feelings on the chicago IT Event..

Just saw an article on GOOG that they are expected to post record sales gains.

Michelle

I would certainly be interested in the OA Event - by itself ... Not going to Chicago ... already committed to a CA vacation trip before Chicago was announced and I too feel it is over-priced for the material.

But if there is an OA event - if only for 1 day at some other time ... I'll do my best to attend .. I too would like to hang with you guys and put voices with type! :)

One thing is for sure ... even if I didn't get the fabulous education I am getting from this community .. I would visit just to read C2's comments ... I laughed out loud at this one .... (as I do many times)
>>>>>>>>>>>>>>>>>>
Bailed on PAY today, and am getting into C instead. Actually I just bought some WNR (short for "weiner"... and because I bought calls, that makes them "long weiners") instead... Oooops. I need to buy a put. Sort of like buying a vowel from Vana.
>>>>>>>>>>>>>>>>>>

Chris .. you are one gifted typer! Funny stuff!

So what happens tomorrow?! Should be fun!

Raimo - Was your “weak like the Ukraine” comment from an earlier post in reference to Seinfeld? If so, that was well played.

Brett - I’m on board with China, man. I’ve been in ACH for weeks now…it’s the most wonderfully spastic stock I’ve ever seen. It trades an average of a million+ shares and has an opening gap in what seems like every other day. I also second the whole OA conference in Vegas motion. I actually just got back from a wedding there this past weekend (you wouldn’t believe how many people wanted to be married on 7/7/7)…it was a nice little 120-degree heat wave to boot. I'd like to go back when it's milder - say 100 degrees? Thank goodness there’s no reason to go outside over there.

Dave

Jeff,
I think that's what we would all like to know. Care to consult your crystal ball and let us know what you expect from the market tomorrow?

Michelle

Jeff,
Count me in...
I'd love to get together with the OA crowd in Chicago.
Just started following the blog and enjoy your commentary!

Mark H

ps. have been totally enjoying the Bidu trade since the breakout back around 145. Sure makes up for a couple of stupid "learning experiences".

Just looking at the indices. Not only did the DOW bust through, the S&P did also. I think 2007 is going to be the year of the bull.

Michelle

I've been to plenty of software developer/IT conferences that were way more than $999. Some were that much per day, and you didn't get free DVDs of the sessions. Even if the content is material you've been over before, one presenter may provide you with that BGO* (Blinding Glimpse of the Obvious) moment that substantially improves your trading.

Besides I'm sure we can recoup that in free drinks opening night :)

See you in Chicago.

Joel R.

*(c) BGO - Dave Johnson

Based on the poll results thus far, we couldn't fill the McDonalds banquet room. I'll let this poll run for a few days and then I will make some moves.

Well as you can probably tell I am been out again most of the day today. Difficult to read through everything but I did take a class in speed reading once just can't seem to remember how to do it.
DG, my account and yours performed the same. I must admit I am confused as all my great up trending stocks just sat there and the shorts gave all the profits back. UNFI stopped out for a very small loss as we were coached to tighten our stop. I do not like to see those virtual profits turn into losses, even small ones.
Jeff, we will not be able to make Chicago as our kids would not survive that long on their own and probably our house would not either.
Benton, where in CA are you going? If southern CAL we could show you the same great time we did Chris when he was here. Just watch out for when Liz gets back and watch what you wear...sorry Chris I am really trying to forget that.
Chris, too bad you are not allowed to use some of your creative skills on the PA. As a past very frequent flyer that would have been oh so welcome. Here is a thought! Try out a couple of what you wish you could say on us, I bet we love it.

Love this blog. I have posted before but it seems I am a thread killer, as a new Thread by Jeff comes in within a few minutes of my posting.
I would go to an OA get together if it were in the west somewhere.

Opps,, thats me Jerry F

Picking up a few more posts. Chris try tripadvisor.com for great spots all over the world. I was on the London/UK blog for a couple years but had limit my time but they were great. They added huge to our vacations.
Jeff, what a relief to know I did not miss that great MT of yours last night. Man, that was too funny. You are not old enough to be pulling that kind of stuff yet. Must be too busi-ness.

Jeff,
Please forgive...I voted before I read the directions so I voted twice. Please disregard the non-named vote.

Not going to chicago, but will be there in spirit.

Sarah

I'll be there as soon as you come to western canada.....anyone want to come to western canada? We have McDonald's banquet rooms here too!

Jodi

Jeff,
Sorry. We will not be there. We are in the middle of selling our house and trying to move and have three small kids with very little sitter help. Hope to catch you guys next time though.

Randall and Michelle

Bob and Pam,
I noted that on the blog earlier today that HALF of my stocks didn't participate in the huge rally the market had. That seemed odd to me, but nobody else thought so. I think I'll send a Market Cast e-mail and see if Eric or Jeff has an explanation of that.

Michelle

Benton,

I am in Southern California as well. If you are headed this way and need any travel ideas or good restaurant ideas, let me know. If I remember correctly, Bob and Pam are in the Pasadena area (correct me Bob if I am wrong) and I am in the Ventura County area but I also have a place in Carlsbad, CA which is in North San Diego County. Would love to say hi if you are in this area. I have gone to Disneyland so many times that I loathe Anaheim and can not even drive through that area. I have 45 first cousins that have all visited me and I was obliged to do all of the local attractions so I hate them all now (the attractions, not the cousins). Have a great trip!

McCom19@aol.com

Thanks to all for all your input and guidance. I have been following this blog daily for several months, and this is my first post. I have gone through a steep learning curve and could few more days like today.
Barry G

For those that are not going to attend, don't worry. I like the idea of doing our own thing outside the big expensive conference world.

I am also toying with the notion of occasional gatherings over the phone. Thoughts?

Seinfeld reference, (weak like Ukraine) yes.

Option addicts phone gatherings, definitly.

Can't fill McDonalds, then I offer up Stone Mountain for OA's interested just outside of Towanda, PA...toys included...

ANR- Someone keeps buying those 20's and 22.50's Calls 1000 contracts at a time...

TDS- How to turn $150.00 into $2050.00 in two weeks! (next week I will show you how to turn $2050 into $1000) Ha! Ha!

Rd

I echo Brett and Bob on the whole OA meeting. I want to go to Chicago but more to meet the people on the blog than anything else. Vegas sounds good...a nice peaceful lake at about 6000 ft surrounded by mountains with homebrewed beer and fresh Elk sounds better though. Just a thought.

GBHARDCORE

Jeff,

I am in for any phone gathering or, dare I suggest, a west coast-preferably southern west coast-get together since Chicago is so far away with mosquitos, no-seeums and ticks. A few major earthquakes should not deter all the east coasters from visiting. I have lived through many now and they don't scare me. Hell, if you can get out of the Los Angeles Airport and the surrounding area alive, an earthquake is a walk in the park ( as long as that park is not in LA County). Now that I have made the area sound so appealing....lets get our calendars out and schedule!!! We can grafitti "Option Addicts" all over the freeway sound walls!!

You can count me in for the occasional gatherings over the phone! As much as I would love to do the Chicago thing, I am attempting to make back some of the money that I lost before I spend anymore.... I realize that education is key and I will go on record to say that I wouldn't hesitate for one second to spend the money if more of the classes were being taught by you. I agree with Brett as well--$1,000 is a lot when there is a lot of stuff thrown in there that you aren't really interested in at this point.

Raimo--I'm up for the Stone Mountain thing--especially since it's not all that far from Pittsburgh. We just need to figure out how to lure JK and others up this way!

Btw, what's up with the marketcast? It's 10:00 pm EST and I can't seem to get it yet. Technical difficulties?

I'm in for any phone deal.

Would like to do in person some day as well, but agree about outside of expensive conference.

Webcam?

Anything that will make me a better trader is good for me. Although Pam and I have decided no more IT stuff until we get back to zero and then probably make money to cover the investment. Based on all that we were told we sure thought that would have been the case much before now. Days like today do not help as the market is up huge and my account is down again. My account is half stocks as it is! Jeff would be in for a conference call, web based meeting of some sort.
We are in Rowland Heights but like Pasadena. That is Liz and Grant that are in Pasadena. We live on the same street as Disneyland just 30 minutes away and we are annual pass holders so unless you go every other week we probably have you beat. We like Disney World better but not enough to move to FL.
I was going to call the IT coach to walk through my trades again but Pam gave me wine with dinner (can you tell?) and I am not sure I can read the charts...

Hello all...first time poster but long time reader. Will try to actively participate more often from here on out. We would be up for meeting outside of Chicago in person or via phone.

C2,

You asked about staying in the Portland area. That's where I'm at. In terms of the sweat of the 'gnoshies' at the concert, Portland is a casual comfort kind of city. You can even (GASP!)wear those SOCKS with your sandals or NW Berkenstocks, unlike the reception you had in CA in that attire LOL. The speedos, well...let's not go there. Theater here has eveyone from blue jeans to dress up; whatever you want to do. I think you'd like staying in the downtown area better; close to lots and a 'fareless square' for downtown light rail to get around. You can email me with how many Stars you want and/or price on hotels and I'll give you some ideas for lodging and activities. Email: rhetta503@yahoo.com
Drop The Pilot .. in Portland yeah!
Loretta

I would love to meet everyone outside of chicago. Stone Mountain in Towanda PA, sounds great. I think I'm one of the few on the east coast (Long Island, NY). I have no idea where Towanda PA is but it's closer than southern CA. Vegas sounds good also. My husband has been wanting to go there. I'm also up for the phone meetings. Everyone is so helpful. This is a Great community.

Brett & Raimo,

Thank you for sharing your Full time trading experiences. It is very inspiring. Hopefully we don't have to lose as much money as Bob did to get to where they are now.

Jeff

You should be very proud of your creation here. It's Great!

I would love to participate in any phone or live meeting with all of you. You guys/gals have played a huge role in getting me back on my feet. It is really neat to see and read how different we all are but how willing everyone is to share and grow together.

Anu

husband and I agree that we need to fine tune the information we have received before we spend anymore with IT. We don't feel we are using the resources available appropriately. We have not used any other site, this is all new to us. now that we have the basics down, the blog is much more informational to us and entertaining, it keeps my attention well. We have learned so much from IT this last six months though and they are responsible for turning us on to Jeff and Eric and the marketcast, and without them we would have not found JEFF and the blog. i didn't even know what a blog was.

We are -0- for chicago. unable to get off work, self-employed and no one to take our places, specialized service business. would love to see faces, we're from Wisconsin, (cheese heads) if we were able to get away, the NE coast sounds good, and GBHARDCORE's idea sounds even better. happy trading tomorrow, good night.

sue & frank (s&f)

I have a great idea, addicts. By the time you guys get it together to have a f-2-f it will probably be the middle of winter. So why don't we plan a trip to Florida! Orlando would be cool but the Boca area is prettier. And I would be happy to host a great big OA party at my house.

Jeff,
What's up with the Marketcast. I'm assuming its not going to broadcast tonight - should I call Investools and see if they can just leave me on hold to listen to it?
My sister and I will be in Chicago and am definitely interested in any OA get togethers. I voted yes on the poll but I'm not sure my name went through.
I like the phone idea as well.
By the way VA Beach girl, I grew up in that area, my parents still live in NN.

Rene
Hoover, AL

Long:GOOG,CVX,A,CPO and now MMM
Short: BSC and HNI

Question for anyone:
For some reason, I can't get CAT to come up on Prophet charts. It was working earlier today and it comes up on the corporate graph view but in prophet charts it says "The symbol CAT not recognized". I was on the phone with IT techs for a half hour, clearing cookies, deleting and reinstalling java, etc. Still broken. I even tried it on 2 other computers in the house. Every other stock symbol is fine.

Am I the only one who can't see CAT on Prophet? Crazy, huh?

DG, I can get it. Do you want an email copy of it for tonight?

John

If you are having problems with the Marketcast, go to www.investools.com and get it at the bottom right hand corner of the home page. In the meantime, I have my guns drawn to try and fix the problem *again*

Viva Las Vegas....

I'd sign up for that whenever.

Jeff,
Tried getting the marketcast on the homepage also but no go. Still get yesterday's.

Long sleep

Short marketcast

Rd

John, thanks but I don't think that will help me. I've got my lines and notes drawn it. I can get the TOS charts (not the prophet there either though) so i'll use that in the morning.

I'm thinking that a big part of this crazy rally today was short covering which would explain why certain big stocks or strong stocks didn't participate - not much of a short position to squeeze out.

Does that make sense? And if so, how will that impact the market going forward.

I would love a conference call line!

Hey OA's....some kind of meeting would be beneifical as is everyone and all this infomation on the blog. It is 11:00pm and I still can't get the marketcast...what a pain. What will tomorrow bring? Can we hold on to these gains?

Hey Brett I see you live in Omaha I live in Eagle Grove, IA. Where abouts in Omaha are you located?

Jeff:
Can't make it to Chicago. School in my county in FL begins on Aug 20. It will be my daughter's first day in Middle School and my son's first day in High School. Wow am I old.

Although I have only been on the blog a few months I would welcome the chance to meet you and the other Addicts face to face. I really like Brett's Vegas idea.

BTW, I am still short on BSC. I don't know if it is patience or denial at this point.

The CAST is finally UP, put them guns away or is that what did it?
Strange now Jeff is louder than Eric and it was just the opposite before.
Great to see new bloggers, welcome!
I am in BSC too.

Thanks for the heads up on the CAST. I had given up on trying. But now that I have had my fix (and heard the buulll market declared by Eric), I can rest peacefully.

Doji girl, Good point on the short covering. I hate when the markets move and I don't but I've had a pretty good run the past few weeks. My only savior today was
CVX but the put play on VMC's fakeout yesterday sure hurt - ouch!!

Good night all,
Rene

Nathan,

I live out west near 156th and Maple. you familiar with the area? i'm not sure where eagle grove is. i do cross the border quite a bit to play hold 'em at the horseshoe.

Doji girl,
I am with you on the Florida get together. I live in Venice. Perfect place to meet up in the winter!! You could count me in. Too expensive at the conference.

FL Get together. Karen & I live north of Jacksonville (on Amelia Island) and would be very interested. Of course, working around football schedules.
Paul

Good morning all,
Before I lay me down to rest, I'd just like to put to bed (sorry, it's on the brain) these nasty rumours about how expensive the IT conference in Chicago is. You get a free lanyard, folks. And it's great for putting things around your neck... like a "Hi, I'm Bob (and Pam) and I'm late (again)" tag, or your keys (unless you're a janitor, then it would make you tip over and that would defeat the whole purpose), or garlic (if you live in Transelvania)... as you can see, the entertainment value of that little puppy alone, is worth the price of entry. Unfortunately it's looking more and more like Catherine and I won't be able to make it as "The Business" is really busy during the summer and even an attempt to bribe the CEO of Air Canada with a free IT lanyard (green and white) was met with stoney silence. ****sigh****

However, let it be said, that Rambo's offer.... er Raimo's offer has a certain appeal as well. But then again so does Doji Girl's. But Vegas? Ooooooo, now we're talking "enticement". Hmmmm sounds like a three 'fer. Catherine and I would be very excited to do any of those, .... oh and Jodi's offer too. Then of course we'd offer up our yard too. Everyone could crash in our basement, and as an added incentive we'd have OA lanyards printed up.

Sorry I've been up all night and I'm rambling. There's a canon that goes off at noon here in Halifax that rattles the windows and skins cats at 200 paces, so I must get myself some rest before the blasted thing (get it? "Blasted?" ... Canon?...) goes off and interrupts the fantastic dream I'm planning on having.

Keep the blue side up while I'm sleeping, please.

Chris.

Morning Jeff,

Here is a thought....

1) a big yes on phone conference..
2) how about a once a year "regional" OA get together for those addicts that live within a particular region, followed by a once a year Vegas OA "Master Extravaganza"??

Maybe not this year...but how about a meeting at the 'real' Oktoberfest in Munich Germany?! It's in late September and early October each year.

Maybe after more folks shake profits out of the market!!!

We'll be heading there to live for a while after I leave the military and will be in Munich in September if anyone is going to make it over there, please let me know!

Raimo...beeeer...lots of Good Beer!

Here's the official website: Oktoberfest

Thanks Tim!!!

Phone con okay! Different 'other' locations good periodically, Stone Mountain, Vegas, Florida, Canada, California...now I just have to find the money and time to make all of them!

anyone else notice the cup and handle on VIP?

I know this stock hasn't followed a pattern since the famed triangle breakout last year, but i'm just sayin'...

Good morning, Brett,

I did a perfect swing trade on VIP on the last bounce but am out of it now. That cup/handle you see is very small but it's a definite possibility.

Is it time to take profits (40% on a stock trade!) in EXM?

Brett,

When there are so many great setups with similar risk to reward ratios what do you use to determine which of the stocks in your watch list to actually take the trade on? There are so many support bounces and pattern breakouts that it is hard to know which ones to take. Any suggestions would be greatly appreciated. Also I have been tracking the stocks you have been mentioning and see that many make huge moves. How are you finding these stocks? Before the move when I look at the charts they look like many of the others in the watch lists but somehow they seem to make greater moves.
Your posts to this blog are very helpful. Thanks
Anu

Seems most of you regulars aren't attending the Chicago conference. I hear ya on the price. The only reason I'm going is because I got the ticket almost free with a package deal at one of the workshops. The room for two nights is pricy but I fully expect to earn the money with my trades. I still have a month before the conference to do that.

--Patti

Hey bloggers, I need your opinion on RTP. I was in it and had a nice profit. As the market got choppy, I tightened my stop to the prior high at

Yesterdays action came down, triggered my stop, and then came back up.

I want to get back in, but I am a little concerned about the "big red volume bar". What say you???

Webcams? Phone meetings? Vegas? What sort of "addicts" do we have here? ;) Just kidding all, would love to get together in Chicago, but I am pursuing a new job right now and doubt I'd be able to get away - plus what Brett said - too much $$$.


Can I get a perspective on HLX from anyone? I can't tell if this is trying to break out of a smallish triangle, or if it simply can't get through $41...I own this in my IRA.

RIMM I get a feeling....

where are my googlers today?? Love it..

It seems the market has answered my question for me. It opened at 308 and is at 307, which is clearly below my support.

I don"t know if there is a play left on CHK but its moving hard today

anyone on JEC?

Eric - I just took a look at RTP - as far as I can tell, it hasn't violated it's diagonal trend line, so I would still be in it - if I was a trend trader...It is building some serious looking resistance at $325 though. Just my 0.02 remember - you get what you pay for!

Brian

BTW - HLX is gone if it doesn't close above $41 today...

Whoa, Missed a lot of chat on the blog. Didn't hear Market Cast either. I am in on the Phone meeting.

Whoever was talking about Portland, that's where we are moving back to. We miss the northwest.

Michelle

Not going to make it to Chicago... but im down like chinatown for VEGAS!

Since I am not an expert on bull flags, I thought I would get some more opinions. How does TASR look to ya'll?

Scoot

Jamie,
Since you've been following me and the CAT, I just took a profit (163% in 6 days!). I'm sure I've left some on the table but it's Friday and I expect some profit taking this afternoon so I thought I'd beat everyone to the exit.

Sorry Bob, I was Googling myself.

Anu, I think a lot of it is experience. I just look at all the available setups, figure my targets, see what stocks i believe can run past the targets and pull the trigger. I can't speak for anyone else, but i prefer to take smaller size positions but take many more of them than focus on a smaller amount of larger positions. If i can catch a trending stock, i'll add along the way. This method gets me into a lot of big winners, and i'm comfortable taking a lot of losses.

Does this help?

RTP - at support now

MikeH

Also, re CAT, it hit my target and then some so it wasn't only that I have the patience of a fruit fly.

Low risk on Kim but most important
on CSH SKX?

I'm a little late but...Vegas is great. I'm in. Good idea Brett. I can't make Chicago either. I haven't told Raimo yet but I am going to take a drive out to see him one day with a case of Yuengling. I'm not that far away. Don't anybody tell him.


Jamie

Hi this is Bob and I am early! Had to do it for Chris. Blue side up huh, must be pilot humor but sounds pretty important though.
Well, I my trades really did not participate with the great bull run yesterday (ok my Puts did) but today I get to participate in the pull back it appears. POT is my lone light in the dark, which is how I feel on these days. I am out again for meetings and then the family wants me to take them to the latest Potter flick.
Brett, I was thinking of Anu's question and thanks for answering. I have been told over trading is a problem with new traders but I prefer a few contracts and around ten trades at a time or more. As I am not full time at this I have to keep fewer trades than I would like so I have the time to watch them.
Ramio, we are all in for a Germany trip. All I need is success at trading to foot the travel bill and we are there!

Keep GOOGling yourself Brett...I am too..LOL

I am Googling also today. I rolled out yesterday to August from July.

Wow the CAT has claws.

Comment on short interest. CNBC keeps talking about the record short interest. There are a record number of hedge funds out there. These hedge funds are long and short so many shares I don't know how you compare it to anything. So of course there are record # of shorts out there. To me that talk is just noise.

Jamie

TSL is making its move. Please try and appreciate the magnitude of a breakout here.

Brett,

Yes Brett, it helps a lot. Sometimes it is just some guidance on what I was thinking that helps fine tune the rules I am working on developing. Thank you also for responding so consistently to all of the questions.

Anu

Anu,

As Jeff likes to say...pay it forward.

Brett,

TSL - Which option are you looking at? They are kind of pricey.

Hey Brett-

Today (while still early), it looks like TSL is breaking out of the C&H you astutely identified yesterday. Would you agree?

Peter V

Bob and Brett,
I've been Googling since 480. Still Googling. It's been a money train. I sold my CME yesterday. Thought it would need a breather, since it bumped its head on resistance. Watch it. If it starts moving up here soon, it is going to town.

Michelle

I want to jump on the RIMM train. Is this crzy at this level?

Peter - assuming it closes above $70 i would agree.

Denise - I agree the options are pricey. And they're pricier than when I bought them yesterday. I have the Sept $60's.

Brett,

Do you always go in the money?

Anyone in FUL or looking at it? The breakout on 6/27 was from both an all-time high (Jan '07) and recent resistance of 29. It's been flagging for 2 weeks and broke out of the flag pattern yesterday. It's drawing back a bit today, which could present a good entry.

Cheers,
Dave

Denise,

I prefer to go out of the money when i can, but if those options are too expensive, i will go the safer route.

SPEC - just noticed this one breaking out on volume. Stock play.

DG,
RIMM is a great setup. Raimo's been waiting on this one...I've been in for a few days and looking to add.

It's breaking from a small flag pattern or AT today, depending on how you want to look at it. I don't know what your rules on breakouts are...but you may want to wait until towards the end of the day to make sure it holds.

Dave

WTI (JK) has finally broken down and looking very good for an add or entry!

Brett, is TSL a cup and handle pattern? How do you play those patterns? Thanks for all your help.
KELLY

HMIN sitting just above diag and hor spt @ $35ish.

Scoot

Hi Kelly,

There are differing opinions on this pattern. Generally, the cup is pretty easy to define. The handle is where the differences come in. You want to see a downward-sloping handle on lighter volume (consolidation). Where you take the trade is up to you. Some take it on the break from the handle on volume. Some wait until a new high (above the cup lid) is made.

By the way, UA is breaking out once again. Flag city.

TSL..

Brett..I like the way it is setting up, but I am going to wait till the end of the day to jump in...it already moved too much today for me, so I will see if I can get an end of day better price....and see if it closes aove $68.60.....

Thoughts??

Brett, thanks, I am learning so much. I will look at the trade with new eyes.
KELLY

Brett,
See the cup and handle. Looks like a great play. My husband is going to play this one. He is the long-term player, and he likes TSL.
Thanks for the input.
Yeah, RIMM looks good. I just bought one option. I think it has support at 210.
To do our analysis on TSL. Do you see about a 25 point move? Would that take three months? How do you measure the time frame? I forgot.

Michelle

Bob-

You don't need my thoughts. You're a pro. Trade your plan, my man.

Brett, Raimo-
I realize you are getting a bit nailed today with questions, and responding quickly in the Kohler tradition, but one more C&H question if I may: You mentioned entering TSL on a close above 70, and I was thinking a close above $68.60, the previous high (Raimo too, or is it Rambo now?). Is this just a personal call, or is there a "right" way to play the pattern?
Thank you,
Peter

MA....priceless

Jamie

Peter,

this is a nice setup, but it moved too much for me to get in now. And yes, I want to see it close above $68.60. Brett got in yesterday taking the bounce I suspect off of $64.50, a level of support and I think a better entry. I missed it, Brett did not.

If it comes back down intra day to $69 and bounces again, I may get in then..

Rambo was my High School football nickname..now you are making me feel old...

Rambo...

Raimo,
TSL,
If you are playing this as a C & H then you would have a potential move of 25-30 points over the next 3-4 months. If wrong your exit is $68 ish. not a bad risk reward. Just my $.02

Peter,

A very useful site that is free is the "paternsite.com. I also use another site that gives free descriptions and guidance on pattens called Trending123.com (don't sign on, just look for the free chart patterns). I tab them and review the patterns periodically.

Good luck.

TSL..just went long, it broke $70..

BSC...setting up for the big fall...

Thanks everybody!
This is a great place.
Peter

Ladd,

I dont disagree on TSL c&h, i just like to make my entrys as close to my exit as possible...especially since I am home all day on this blastard computer all day..

AAPL just dying to bust higher..

BTW, Like the Vegas idea.....and all you are always welcome at my place....Walford, IA. BEA utiful little town in Iowa, 2 bars, 1 gas station, no stop lights....corn and bean fields as far as the eye can see.....

does that sound appealing or what?

i am all for a phone setup.
POT breaking to new highs today
brendan
ca

Brett -
TSL soaring. You rock!

DG --
like your SPEC b/o. I'll try that one

I got out of the EXM this am, too. Nice profit -quick! (Thanks Brett)

go CAT go

btw my Vote's for FL in the winter, but then I've never been to Vegas (sheltered!)

cindy a

anyone playing FDX or RIMM? entered yesterday.today nice confirmation.

CF is looking very good.

Jeff,

You had a book listed "day trading w/ price patterns" for $500. What's up w/ the price? and 2nd is now longer available. Can you tell me where to find it and why I should consider this one at such a steep price. Although it is just one trade away. HaHa.

Brett, Jeff, Bob,

Do you find it possible to make a living trading while holding another job, or in you opinion must you be full time trader? Thanks! Beth Ann

Thanks, Brett, Got into CMI a few days ago when it took a breath. It's taking the next leg higher.

Michelle

New thread y'all

Sarah,

I'm guessing Jeff wrote that book and Amber published it.

LOL!

Its a decent book, but it is scarce. That's why the price is pretty high. I'd wait for me to publish a pattern book though instead. It will be better and I will charge less.