Just sold OSG for a tidy 120% profit. I think it's spiking a bit and in this market I just don't trust it to hold these heady profits. But that makes me a Swinger. Oh no! What do I do?!?! So many decisions I fear my head will EXPLODE!!!!

It's on my list of re testers now. Cash is great.

thanks for another great video Jeff

Ladd,,,,i love bidu,,,one of my favorite swing trade plays,,,got stopped out today for over %200 in less than a week,,,gotta love that kind of stock,,,might have snugged up the stop too close ,,but cant complain,,,as a wise man once said(brett) "dont pick the top,,move the stop"

i would also be interested in meeting you all at chicago,,not going to the live event but could drive down for a group get-to-gether

and,,,,i want a shirt!!!!

sue

DG,

Thanks for the BSC rumor control, that seems to have helped, it's pulling back now!

Okay, who is in charge of fixing POT!! That is one fugly looking candle today.

Arty-

from previous post: If you're still around... I hope you have a great trip!

liz

Doji Girl,
Everytime you do thate "clean cups..... I just laugh.

Michelle

Doji Girl-

I always love it when POT pulls back because then it just goes higher still. POT seems to whether its candle patterns pretty well.

liz

Doji Girl,
You know what's weird? I have the Canadian version of POT in my 401k (CA:T.POT) and it's up $0.40 today. Bizarre. Might have something to do with people needing a bit of beer money for tomorrow, on the US market. Overall, there's no change to the company and if the Cdn side's going up today, I've gotta believe that this is nothing but a great chance to get in, on the US side.

Having AAPL pie for desert tonight..

Bob(and Pam)-

(from previous post):
I'm having the same problem you're having today. My puts are up and my calls are down. Yesterday they were all working correctly. But nothing looks "bad". Just looks like everything is doing a re-test.

liz

Liz,
I'm in the same boat. Everything except for VIP and MTL is going the wrong way.
Um, almost. WYNN has finally turned around.

Doji Girl-

I don't mind the re-tests... It would just be nicer if at least one of them wasn't re-testing.

I'm interested to see how this summer goes because last summer is when my husband I first started and let's just say... it wasn't the greatest summer.

liz

Looks like they just ran the stops on POT all the down to 78.

Liz and C&C, what is frustrating is that good days like yesterday move my account up about half of what today so far is down. MLM, POT, PCP, BSC and others are pulling me down only SNHY is going the right direction. Like Liz nothing too major and other than CAL stopping out and BSC getting to that 145 line all appear still in good shape. I am sitting on my hands and doing nothing. Maybe will tighten a stop or two.

I'm right there with you guys on the annoying re-tests.
Looks like a good time to break for a holiday.
You guys have fun.
Lori

Have a great holiday everyone.

Be safe!

Chris, even though I do not have that good looking thing going for me maybe if the Trading Gods know that you and I are in this together and you put in a good word for me they could over look it just this once. Or is it that they think that arch and gardens are a temple for them and it is not looks at all!

Bob(and Pam)-

I feel your pain. I love days like yesterday when things are going up so much and then today kinda sucks. I just have to remember that the reason my account gets pulled so much is because of where my positions are. For example, I'm in POT and I'm pretty far in the money because I've been in it for awhile so on days like today when it re-tests a lot, my account makes a much more significant re-test itself. I just try to remember that.

liz

See you guys Thursday, "Same Bat time, Same Bat channel."

Talk about nostalgia.


Michelle

its days like these that the blog really helps, knowing its not just my account that everything is going the opposite direction. Seeing everyone in the same boat as me helps keep the emotions down. got in WYNN early today, only thing that went in the right direction for me

long POT MLM GWW

Short BSC AHM PBCT FFH WYNN


have a great holiday everyone


gh
long island, NY

Managed to eke out a tiny gain today. 401k did quite well thanks to AAPL. Good volume, too.

STR is either at a great entry point or is thinking of heading south for the summer. I've got it in my 401k and am ready to dive in with some calls as soon as it turns north.

Have a good day off tomorrow, folks. Bob, have a yuengling or two for me. Hope yours is as relaxing as my Canada Day was. BBQ up a storm... and if you're in the southwest grab a rowboat.

Jeff,
Great video. The kids are playing, I can't wait to pull up charts and study these. Thanks also for mentioning the ticker symbol each time you talk about a trade. Sometimes they are hard to read.
Have a great 4th. God bless.

Michelle

Hi all,

I’ve been struggling with a way to quickly determine if a trending stock is worth trading based on a rule that it must move 10% in average or 5$ a month. This rule has made a huge positive difference in my trading so far so I’m looking for ways to improve how I use it and to do it more consistently. (A $1 stock that moves 10 percent may sound good but to make money on it you have to really load up which is why I also use the $5 minimum.)

Since stocks don’t move in straight lines, eyeballing it isn’t very scientific and I have a tendency to see what I want to see. So I’ve come up with the following “formula” and applied it to my watch list to highlight the best trending stocks to trade based on the last 6 months.

A 10% move each month for 6 months is actually compounding. So any stock that moved in average 10% or more each month would have increased at least 77% in total.

So I set my prophet chart to 6 months and for each watch list stock calculate the total percentage and average $ increase over the most recent 6 months. 6 months usually encompasses market pull backs so feels like a good length of time to use though this would work for shorter periods if desired.

(Current price – Price 6 months ago)/Price 6 months ago = Total 6 month percentage increase.
(Current price – Price 6 months ago)/6 = average $ move per month

If this is greater than 77% and/or $5, I label it in Prophet Charts as a 6 month fast mover. This would form the basis for a fast mover watch list.

The downside of using 6 months is that I miss stocks entering a fast moving period but it helps reduce the impact of a single big move on method.

Based on this method and to my utter horror I have identified the following 6 month fast movers. Most of these have been on my watch list for months and I have only traded a couple. I was looking for the perfect entry, never got it and missed the bigger picture of how hot these stocks are.

ARGN: 100% $1.60
BCSI: 108% $4.30
BUCY: 54% $4.30 (close)
DECK: 66% $6.60
FCX: 70% $5.80
FLR: 40% $5.30
FWLT: 100% $9.00 (smokin hot)
GLBL: 107% $2.30
GMCR: 66% $5.50
NM: 118% $1.10
NOV: 82% $8.10 (smoking hot)
NVTL: 160% $2.60
PCP: 56% $7.50
PCU: 96% $8.00 (smokin hot)
SPWR: 73% $4.66 (close)
TNH: 350% $17.5 (holy rocket ship batman: why don’t I own this?)
VDSI 92% $1.83
VIP 39% $5.00
WNR 140% $5.80 (smoking hot)
MLM 57% $10.00 (hot)
POT 68% $5.40
SNHY 150% $5.00 (smokin hot)

My gift to you, have a happy 4th of July… MikeH.
(BottomFeeder

Liz,
I am still around doing last minute packing, I take a break, read the Blog then pack some more.

A little fashion advice anyone. Black Tie Affair:
Cumber Bun
Braces (suspenders in Boise or Des Moines)
or Vest??????

What say you.

Thanks for the kind sentiment.

Cheers

Arty,
Maybe I missed something in your message. Black tie means tux.
Are you asking what accessories for the tux?


Michelle

Michelle,
Yes Black Tie affair means Tux. I should just go with the Kid Rock wife beater that says Option Addict on the front but I can't.

I already wore my "I am with stupid" shirt around these dignitaries and because this event is at the Stockholm City Hall (Yes Noble's Hall), I thought I should get gussied up.

Oh and the Team Boise Camouflage has become weary.

What would Usher where to The Grammys?

Cumber Bun, Vest, Or Braces?

Cheers,

Another thing, I think DVR is worth watching as a stock if general market conditions continue to trend up. SNHY too. Sorry I don't have any slick option ideas.

Cheers

cumber bun,,i think,,but any would be stylish

have a safe trip

sue

Fwiw, it's a cummerbund (1 word and you had the 'b' in the wrong place).

Have a great trip!

Arty,
You are too funny. Cumberbun, I think. Oh, weren't you the one asking about "Fooled by Randomness"?
I thought it was a bunch of philosophical crap. Sorry to be so harsh. I know Jeff recommended it, but I did not like it. Just not my kind of read. I like "get to the point" stuff. People who put so much effort in trying to sound intelligent weary me. Call me cynical. I have been a court reporter for 20 years and listened to lawyer-speak and expert witnesses trying to sound important, and that's how it sounds to me. Sorry if I offended any lovers of this book. It just isn't for me. Have a great time, Arty.

Michelle

Arty,

Vest for sure. And a straight tie underneath.

Michelle,
Thank you so much for the recommendation on the Cumber Bun, I called Oprah and she agreed with you. Oh and of course a "tie your own" black bow tie.

But then Brett comes in out of nowhere, Straight tie and vest....what to do? Jeff can you post a blogger poll? I will peek in from behind the curtains at the event an decide if I can't get a deciding vote here. Yes Michelle and Oprah are weighted the same as Brett!

As far as Fooled by Randomness, I asked my better two thirds, T-Bone, if I should warn you and she said yes.

It is an exercise of the mind. Is it spot on? Yes it is. Does Taleb get a little over verbose? At times he does.

When you have a little quiet time it will benefit you greatly to read it with a relaxed mind.

For practical applications of trading other books are better suited.

Cheers,

Thanks, Arty.
I will shelve it for now, and maybe pick it up later. Maybe I'm just not there yet to appreciate it.

Have a great time.

Michelle

I think it was Chip that suggesteed opening the videos in a new window and viewing them with Windows Media Player. Great suggestion--it makes a huge difference. Quality is perfect! Thanks for the tip.

I agree LisaG ... and it was Chip Hopkins that gave the fabulous idea ... The videos sparkle when you take his suggestion:

**********************
If you're having trouble watching the video, right-click on the link, which will open a menu, then select "Open in New Window" or "Open in New Tab", which should then open your Windows Media Player.

Alternately, you should be able to "Save Target As...", which you should also be able to open with Windows Media Player.

Posted by Chip Hopkins | 7:53 AM, July 03, 2007
*****************************
So there you go ... great stuff Chip!

Happy 4th everyone!

I just found out about this website, and I really like the video. Thanks a lot.

I noticed that you don't mention about volume at all. Is the trend a lot more relevant?

Mike H. thank you for your list of the great movers. I will spend time going over them for my future benefit. Thanks for sharing!
Everyone have a safe 4th.
KELLY

Apprentice, the trend is more relevant than volume in support and resistance bounces. In breakouts, on the other hand, volume more often than not is as important as the move. Without it, the breakout move is likely to be a fake out. Jeff usually talks about volume in these cases, however, for today’s video he prefaced the presentation with a warning on volumes because of the holiday week.

Have a fun fourth!

Hi Bottomfeeder,

Thanks for taking the time to share your strategy on how you determine if a trending stock is worth trading.
This blog has been so helpful as everyone shares what works for them.
Hope everyone is having a great 4th of July.

Hi Jeff,

Some time back I understand you talked about a daytrading strategy.
Could you share this again? I have been papertrading a daytrading system which I learned from Josh Black, buying options on the SPX, based on 3 MA's (6 day, 12 day and 54 day). However, by the time I get a trading signal, the move is almost over. I seem to be losing more than I am gaining. Prior to this, I papertraded using the stochastics but this was not successful either.
If anyone else has been successful with daytrading, I would appreciate hearing of it. My e-mail is JudyMacFarland @ yahoo.com.

Happy 4th addicts...

see you all tomorrow....

Hi everyone,

I'm sorry that I have been so absent from posting lately. This week at my day job I'm covering for someone who is out so it is crazy busy. Also, I've been trying to stay away from the markets more intraday to avoid getting caught up in the emotion during these choppy days, so I'll be doing most of my reading/posting in the evenings or mornings.

Thanks for all of the great discussion. I am here reading and will try to contribute more as things settle down a bit.

Happy 4th.

Apprentice,

Go to the right side of this blog page and look under LINKS to review many of Jeff's prior posts. These can help a lot and get you up to speed quicker on this site. Good Luck and happy 4th.

Mike,
Great idea. Thanks for sharing it. Hope you had a good 4th.

Anu

Hope some of you grabbed some CTRP a few days ago...

Goodmorning, I was listening to cnbc this morning. Some analysis was saying semi's are in for the next run. Bob what do you think of INTC? Chart looks good!

Bottom feeder, Just looking over your list, Thank's for your effort with the post. AAPL looks like it's coming out of the gate up again!

Good morning addicts,

All the hotels are up strong in pre-market this morning due to the BX/Hilton mashup. Our WYNN puts are definitely going to start out the wrong way here. Heads up.

Doji Girl , WYNN A stop loss around 91.00?

INTC

Hey there Optionfanatic....

I can't get excited over INTC..I think there are better trades out there. Anyway, I'll throw out my 2 cents on it anyway: On the 5 yr chart, I see it in a downtrend and/or sideways trend. The past few months, yes, a higher high and higher low..but, I see the stock at resistance, earnings coming up,....just not doing it for me, better setups out there for my style.

Optionfanatic...

I like AAPL !! LOL.....

And GOOG is playing nice too.

Now ALB..that is another story...banged me hard this morning, still short on it, see what happens as the day progresses...

FFH up 15?

ouch

Bob, You have to be careful with cnbc getting caught up in the hype! Thanks for advice.

I Like BWLD...

Whoa, FFH gapped up. Hope nobody had puts on it like I did. And then options express took forever to fill. I lost 860. Who knew it would gap up 13 dollars. Ouch.

Michelle

Optionfan,
On a closing basis. The stock still sucks so maybe this uptick will blow over before the end of the day.

Had to pull the trigger on AMG @ the open. Looking to get filled on BWLD Thanks! WYNN has .75 more to go.

Just took down BWLD

Puts are not doing so well today. I am hoping BSC heads down. I am so tired of messing with that one. Now I wish I would have bailed on FFH. Who knew?

Michelle

Bob, I took down BWLD, BSC Heading where it belongs!!! Stay down puppy!

BSC is going down...a lot of resistance at $145....

B....bye bye
S....sinking fast
C....cya nara.....(however you spell it!)

You're too Funny! Good one Bob!

Raimo, Definitely ready to ride the BSC sinking ship! I think in English it's spelled: "Sayonara", although we got the idea, thanks!

Optionfanatic, so you hung in with BSC, good for you!

Brett..you still in ALB ? I am going to hold it till the end of the day and see what it does...if it closes above $40.30 today I will bail..

Chip, Thanks, I'll let you know! I'm still holding my breath... it just went pos.

Bob, R & optionfanatic,

Can you explain taking down BWLD?

I see an Ascending triangle, bouncing off trend line with resistance at 45.

Are you buying calls?

Bob R,
I'm with you on ALB, buddy. It gapped way up this morning but is pulling back. I've just about hit my 1% on this puppy, and I see some better set ups (like BSC) so I'll wait the day out and see where it's at. If it's still above $40 at day's end I'm tossing it aside. Today's pop seems to be on some news about increasing ownership in a couple of Chinese companies... not really worthy of a big 3% jump, I don't think.

___________________LESSON OF THE DAY______________

Don't know if anyone noticed that I dimped OSG on Tuesday, as it was up substantially and I just didn't trust it to hold that gain. Today it's up yet another $2.11, albeit on low volume. You know those trading rules we have? This is what happens when you diddle with them. Lost profits are every bit as bad as excessive losses.

Someone save me... Catherine's rumaging around for the hammers. Liz... I need your boxers over here for a minute... Kick Boxers, that is.

Denise,
Thanks for asking about BWLD. I agree with your assesment... it looks like it's far too tenuous in this market. I'd wait for some definate movement.

Anyone looking for a put play, PAY a very low risk entry right now...I am still in it (went short 6/21)..it is smack up at resistance at the $36 area....a low risk entry....keep your eye on this today...

And DON'T PANIC on BSC...

Thanks C&C,

I'm fairly new & I feel like I don't really understand all of the comments here.

Any sugesstions on how not to spend too much time analizing the stocks & option pricing that you miss the move on the stock?

I'm having a hard time determining my rules which is probably half the problem.

I think I want to be a trend trader but emotionally I think more like a swing trader.

I read all your sugesstions here and most of the time do nothing. What is wrong with me???

Please help

BWLD

I have it at my support DIAG line and it opened this morning above my Horiz line at $42.50. It previoulsy came back down and touched $40, fillng the gap on 5/18, so I see the stock at a pretty good suport area taking a bounce off my diag support. If I am wrong, out with a very small loss..a good R/R for me.

Have a look at PCU. Anyone who looks at charts and thinks "This stock is losing it's momentum, I think I'll bail" like I tend to do... this is a good lesson in letting your winners run (aka: OSG.) I almost got out of PCU back at the end of June when it pulled back to $90. It looked like it was starting to roll over and I had really good profits on it and I didn't want to lose them. Catherine took one look at it and said "Where are the lower highs? Where are the lower lows? Where are your brains?" I couldn't answer any of those questions so I tucked my hands safely under my butt and (after giving myself a quick pat) left well enough alone. As you can see, it's up another $10 in the week since.

++++++++++LET YOUR WINNERS RUN+++++++++

That's lesson 2 for today.

Lesson 3 involves shrimp, salt water, and horse treats. Coming soon to a blog near you.

I hope a lot of you are GOOGling with me today...

Yeah, C2, ALB needs to keep heading lower today..or I am gonna have to bail..

We'll I anticpated a breakdown on ESS on Tues. and it bit me today! I have to wait for confirmation when it break s below support another lesson learned! Where are the Hammer's

Bob R
Hmmm OK I see what you're saying. I agree it's a safe entry point, but I just don't like the setup (Just like I didn't like the setup Tuesday on OSG.) I'll wait it out and let it make a move before I'm in... although I'm getting sick of letting BWLD leave me in it's dust.

I agree 100% with you on BSC, though, and I also think you're right on ALB.

Addicts:
WYNN has not broken its downward trend. Today I see it at or just below resistance 91. Is this a good entry point or am I seeing something that is not there?

WYNN

It's bouncing today off a support line at about $90 (which it recently broke), and it's next resistance is a thick line at $93. If it bounces off $93, time to short it..Right now, no entry for me..but I like the way it is setting up.

Take a look at ATI good entry point low risk for a bearish trade


What do you guys think?

Bob R.,

Thank you for your explanation on BWLD. I see what you are looking at.

One Question though. What is the importance of filling the gap on 5/18?

optionfanatic... don't give up on ESS. I love the setup and the volume today is light. It gapped way up and is settling back nicely right now. You might lose some money, but I don't see the bottom of the well. I'd say if it closes below $120 it's still worth hanging on to.

Denise, there's nothing wrong with you. I've been doing this for 8 months now and I'm still wrestling with whether I'm a swing or trend trader. Swingers can lose out on some major gains (like OSG today) while they take profits off the table at "peaks." On the other hand "trendies" can lose profits as the stock re-tests, in the hopes that it'll bounce back up. What I have found is that when you're playing the bounces in a strong trend (as I prefer to do) there's a much better chance that it's going to bounce off support... and the trendies tend to do better.

Having said that I'm still fine tuning my rules (and Catherine's looking after the "coarse tuning" with the help of her hammers) so you should pretty much ignore everything I say. I'm average height, balding, middle aged, and people tend to ignore what I say anyway. I won't take it personally. You've got to sort out your own rules and go with them.

As far as over-analysis goes... I don't waste a lot of time on it. If I like the trend, I wait for it to get back to it's support line and that's it. If the option isn't too expensive (like GOOG) then I'm in. Hope that helps.

ATI

broke out of my triangle on above avg. volume on 6/12, re-testing that bottom diag resistance triangle line on 7/3 and down today. A low risk entry is how I see it for a put. Potential move down to $96 ??

Denise,

I agree, there's nothing wrong with you, we've all been there and to add to the good advice of C&C (Chris)...

This time of year as Jeff stated the other day is a difficult one. First the lower volume and higher volatility, second, we're coming off of a great Bull rally, which doesn't appear to be quite over yet, although with the increased volatility in the markets, higher interest rates (now mostly dropping) it makes it difficult.

For me, I've 'become' a Trend Trader, although with the markets the way they are, I may also be a little more conservative and take profits off the table sooner. Because on some previous big down days, I've watched my unrealized profits evaporate.

Be cautious, take your time, trade 'small' position sizes. If you are uncomfortable losing whatever you've invested, then your position sizes may be too big as most of us have learned the hard way.

If you're not sure about your trading style you might want to paper-trade until you get the mechanics down and you build your confidence. For most of us, paper-trading is not the same, because emotions kick-in when trading real money. That's where the small position sizing really helps with the emotions. Hope that helps!

Oooooo Bob, this is scary. I agree with you on ATI, as I just got me some. Prefer a bow and arrow on this take-down.

Thanks C&C Your holding up my Spirit's. Maybe I'll just need a Rubber Mallet!

Denise,

SOMETIMES gaps act as support/resistance areas. The fact that BWLD filled that gap at my Diag support line just made me feel more assured that $40 was a good support area. I just used it as another clue like some would use candles...

CTRP...loving it!!!!!!

Ramio, I had a diagonal that WYNN just broke through. Is your 93 a horizontal? WYNN is my biggest loser for the day so far. I will wait until end of day, I will wait...

You guys give me no credit here, I brought up ATI, thanks bob for your feedback.

If you missed esv now is the time to make a move low risk at the moment.

AMX is screaming

TNX is rising this will give this bull run a hick up if it continues

Denise,

I agree with Chip. The best thing you can do is keep your trade sizes small. When I get frightened (ie: lots of losses, no winners and the account's shrinking, and Catherine's yelling and threatening to get the hammers) these are a few of my favourite things... I drop all my trades to a single contract. I only take trades that look like they can't help but win (really strong trends over a decent amount of time), and I wait patiently with lots of cash until those trades come along. Sit down, cross your legs, put both arms out at your sides, touch your forefingers to your thumbs, close your eyes, and hummmmmmmmmmm. Say "I will not trade with emotion." "I will only look at the graph when I get in, and only look at the graph when I get out." "What the stock has done for me in the past has no bearing on what this stock will do for me in the future." "Damn... I'm smart."

David S,
The credit's all yours, buddy. I can't keep track of my own socks let alone stocks.

I know the Master has dissed AAPL and has publicly spoken of shorting it, but look at this trend!! A beautiful bounce off diagonal support on strong volume. The story's not over, me thinks.

Bob/Pam

Here is my lines on WYNN

1)draw a diag line from the bottom of the candle on 12/01/2006 to the top of the candel on 6/19/2007

2)draw a diag line from the top of the candle on 5/2/2007 to the top of the candle on 6/15/2007

3)a thick horiz line at $92.50 going back to Nov of last year.

So who's buying UA?

Anyone else nab it yesterday?

I recall ATI being mentioned last week, not sure by who, but it has been on the radar. Thanks DavidS for putting it back in front of us..

Dang Brett...nice one..was not on my radar. Too late now..

Where you been?

No, Brett didn't buy it.
Okay. Are you the one that bought all the FFH and sent it through the roof? (Laughter.)

I am getting nervous with my LCC put. I am going to study the chart and make some decisions.

Michelle

My kids bought me some UA shorts and running shirts for father's day. Hard to believe they had that much impact on the stock, though.

Bob R,
You did not ask me but I will still give my $.02 on ALB. I bought on the break out on 6-18 on the break of $39.25ish. I added to my postiion on the successful retest Monday (and Tuesday). Today, my action point (the reason I entered the trade) is broken (so far). I will wait until days end, check price, check volume, and act accordingly.
that is my $.02
Thanks

Obviously the company is being taken over. What kind of crazy move and volume is that?

UA, not today! I think we can call it 'Over and Under Armor', cause it's blasting away!

Michelle,
I think yesterday was the "out" day on LCC. It broke through my support line at about $32 on strong volume. If it holds this gain today I see no hope for it.

I bailed on LCC Tuesday as it blasted through 32, guess I'm too afraid of the heights it might get to!

Denise,

Just my .02 worth ... The more knowledge you gain, the more confident you will get. I identify with what you are going through.

You will find that this blog with Jeff's mentoring and the community of traders are a big help with confidence and application.

If you are an Investools student, be sure you've gone through the course books online and taken all the tests. Then you can gain entry to the new Capstone trading rooms where the instructors fine tune what you have learned. If you're like me, you'll have some 'aaha' moments. It will help you firm up your trading rules and that's what you are after. As well as what Jeff teaches, Dave Johnson's Advanced Option Application's trading room and his Capstone sessions continue to be a big help to me with putting it all together.

Just keep at it and you'll get there!

--Patti

Ladd,

Me and you are in the same boat, I share your pain. I too will make a decision end of day...

I would like to see the DOW and S&P make a higher high...H,mmmmm

Anybody else liking POT today if not already in it?
May have to buy me some of it

Thanks Ramio, I will draw those on my chart and see if I see them.
Chris, Pam and I had that conversation last night on AAPL and just based on today's move wish we had done what Pam wanted! The technicals are perfect but I thought the story over sold.
Question, I see posts like UA where there is a HUGE move in the day frequently here. What do you all do with that information? Is their a way to trade that intraday or is it just interesting? Basically what do you do with this information and how do you profit from it? Probably a stupid newbie question...

Avoid UA now like the plague...

Ladd, I jumped into POT at about 9:20 as it was reversing.
--Patti

Michelle..

Did you hang on to CME??

Denise,

Correction... I meant to type Dave Johnson's Advanced 'Tecnicals' trading room.

--Patti

DRQ retesting the 6/25 breakout, but I want to see the support break at $45..(2 yr chart)

Keeping this on my radar..

Took a couple of days off and there was sooo much to catch up on with the blog. Jeff on the video, OA apparel....all great stuff. Thanks Jeff, can't wait.

ESRX, Jeff mentioned on his video and haven't read if anybody is going to trade this or not. Volume is going to be down because of the holiday week and the June employment report is tomorrow. But this is breaking out. I bought NOV 45 calls.

Raimo, I've been GOOGling with you all along. (Is it OK to say that to another guy ?)

Hope everyone enjoyed the holiday.

Jamie

Jamie..

U,mmm, I don't know if that is good blog etiquette...not sure if I want another guy GOOGling with me...drinking Yuengling, yes, GOOGling...AHHHHHHH, AHHH, I don't think so, LOL...

Hi all.

I guess it is time for me to stop lurking and start contributing.

I was looking at WYNN and noticed something: WYNN, MGM, ASCA (breaking out, more volume would be nice), and MPEL are all up about 4 to 5% today. I can't find any news for any of the four to explain it. Anybody got any ideas of what is going on with the casinos?

Scoot

Scoot,

Hilton being bought by Blackstone..

I've been GOOGling myself since $480.

Bob, there's really nothing to do with UA today. If you bought yesterday, on the other hand...

Scoot,
They are up with the BX/HLT news. Not sure why a buyout of HLT would translate into bullish sentiment for ALL hotels, but that's it.

I think I have to take my lumps on this one and get out by the end of today. It is sitting at the topmost part of my final (downtrending diagonal) line in the sand and if it doesn't stay below 93, I'm outta here.

Optionaddict,

what say you about " BUCY CALL" for swing trade. BUCY was on Jeff watch list and on market cast this week.

Kas

Patti,

Where do i access the capstone talks that you mentioned,,I am a PHD student and have finished the online stuff except adv options////i did it before on paper , before it was online//do I have to finish that in order to get the capstone?

thanks
sue

Yep I have puts on WYNN :( but the downtrend is not offically broken...yet. time to take some deep breaths. Hard to gauge valid price moves w/ low to averge volume.

POT have it love it, will add t it.

FSLR if you don't have it. GET SOME .

Hey All,

With regards to AAPL, go to an AT&T or Apple store and check out the IPhone. I believed it was all hype until I played with one. Now I have to own one. I think long term, they've knocked it out of the park. In particular, check out the stock watch application. They are going to sell millions of these things at $499-599 a pop.

RIMM also just got approval to market the Blackberry service in China. Their recent run may just be the beginning of something larger.

Joel R.

UA - I don't think there's a buyout, but Stephen Mandrel Jr. of Lone Pine Capital came out on Tuesday and said that they owned nearly an 8% stake in UA. The stock was then added to the Bellwether Watch List today.

If anyone remembers, I brought up UA back on June 27th when it broke its 3-month down trendline on Nike's good news. Hey, occasionally I get one. I'm patting myself on the back Tuesday/today...but only mildly.

Cheers,
Dave

Bob,
Yes, I held onto CME. Nice move today. I am still GOOGling. Sold one contract, though to take some profits, but still have money on the table. Now I can let it ride without feeling emotional. Nice to have some good movers with the market being down and getting popped on that FFH debacle.

Michelle

Dave,

I don't think the move today and the volume included reflects either of the 2 news items you listed.

Nonetheless, long UA and and iPhone. However, it's waiting for me in Omaha and I'm in southern California right now.

Jeff,
If you're lurking today, I have a question. I think I swing trade and trend trade. For example, I will sometimes buy two contracts on GOOG, and if it bounces, I will keep one contract and swing trade it and then trend trade the other one (since they are so expensive.)

Also, if a stock makes a huge move, sometimes I will swing trade and take profits, because when they bounce, sometimes they never make it back up again.
What say out?

Michelle

Brett,
How was Disney Land?


Michelle

Oops. Should have proofread.
What say you?

Brett,
I have been playing GOOG since 480, too, although probably not as smoothly. Took some profits, got back in, got stopped out once while on vacation. Got back in, added..... Anyway, even with all the mishaps and a few too comissions, it has been a nice play. It looks like it will keep going too. May have to take a breather and bounce again, but who cares.

Michelle

Kas, BUCY on a swing trade? Looks like it's trending sideways, low volume. I would wait for a confirmation for it to break above 74.75 with good volume. What indicators do you use Kas.

Optionfanatics,

I rarely use technical indicator.Most of the technical indicators are lagging and I don't want to be late to the party. I use price action, volume and support and resistance to filter out my trade.

Kas

Happy Trading !

Raimo, I will personnally deliver a case of your favorite lager for my transgression.

JWN inching lower....

Jamie

New post...the Angry Trader is on Suicide watch after FFH...! Kidding...

Sue,
I've been a PHD student for just a year so used the physical books with the DVD sets and Trading Rooms just like you probably did. Now it is set up to go to the 'Courses' tab where you go through the books online and take about seven tests and a final for each of the four books. Once you have passed all the tests in a book it will show green bars for your scores. Then go to your Trading Room tab, and find the subject you just finished. You will see that the Capstone is 'unlocked' for you. Investools just started the Capstone sessions about two weeks ago.

--Patti

Hi Guys, I'm looking to buy a call on KFY at the close. It's ready for a diagonal support bounce at 25.85 with medium Implied Volatility - increased volume not nec. What say you?

Judy,

I see pretty strong resistance at about the $26.75 area which would not be good R:R for me.

Scoot

Judy, KFY is at support and could be traded as a support bounce. But what would be your target ? It failed to make a higher high on the last bounce.

Run some scenerios (spell check) on the Black Scholes calculator. If you use Sept 20's the risk reward is 1:1. If you use the Sept 25's it can get uglier. I used 25 as a stop when I ran it.
I think there are some better R/R's out there.
Just my opinion

Jamie

Thanks Scoot,
Are you basing the target on the prev. high?
Also, after I posted, I used Bottom Feeder's formula... KFY has only moved 14% and .54 points in 6 months. So, on to the next!

Jamie,
Thanks for taking the time to help.

Judy,

I am looking at the last 3 highs in the trend. Going back to 6/1, there are a lot of highs, lows, closes and opens between 26.70 and 26.80. So if you draw the trendline at 26.70 with a crayon, you pretty much hit them all. Hope that makes sense.

Scoot