Jeff, great videos yet again. You continue to out-do yourself. Thanks.

There was a lot of talk about ANR yesterday. I just had a chance to look at it today and I agree that there's lots of potential with this stock. The options are cheap, cheap, cheap and a $2 move will more than double your money. The downside is that it's just in a bad entry point right now. I would put this on my list of 1,258,345 stocks that I have to watch. If you hear a popping noise it'll be my little head exploding. No more input.

Well, thanks to Brett for ZOLT. If it wasn't for that, yesterday would have been mediocre for me. I got stuck in NY for a couple of hours as we waited for some thunderstorms to pass, and by the time I got home, Catherine was asleep, the girls were partying in the basement, the dog was hoping I'd feed her, and the cats could care less.

I have to take my 16 year old to write her driver's test. Holy C$&@ batman... how did that happen? Then it's up to the barn for horseback riding. Looks like another day away from the computer. I'll try to catch up later. Hope it's another good day. Congrats to all the big winners yesterday.

Chris

Wow, what an opening to the market. It's one of those days that the puts are making about $10 each and the calls are down about $200 each. ZOLT is stoically holding it's own. AKAM took a big leap to start the day... might have to do some homework on that one. Might be time to bail.

Christine, you are correct. We're just west of Toronto, Canada. A place called Oakville, home to nothing important, except 250,000 cars. But we call it home.

any comments on MLM???

Is anyone still in?

Should I wait till the end of the day to see what happens or do you all just get out when it braks your support line during the day?

Jeff,

Thanks for the watchlists, and most importantly, thanks for having them so early on Tuesday. I love the TTEC setup.

I'm prepared for a retest of the lows, but I wouldn't be surprised to see new highs later today either. Therefore, it's great to work toward a balanced portfolio and you always deliver on those hard-to-find opportunities. Much appreciated.

Denise, DG,

Don't get caught up in the early morning volatility on MLM. Yes, it's dropped and yes, it will likely end on a down day and no one could know that the overall market was going to take a dump, at least early on, AND those things will always happen...

Having said that and yes, I'm still in MLM, I will be waiting until later in the day. Typically I will wait until the end of the day, although will review periodically throughout the day in the event the market 'chooses' to really jump from the tallest building.

What Brett says above is always a possibility: "I'm prepared for a retest of the lows, but I wouldn't be surprised to see new highs later today either."

Bottom-line the choice is always yours, do what you think is best for your situation, position and portfolio.

Raimo, yes, still hangin' with BSC! Just what we've been waitin' for!

Denise, It depends on what your rules are. I'm waiting on MLM til the end of day to see if it makes some turn around. I see support at around 160, so if it's below that at the end of the day, I'll close out. I want to be consistant and mechanical.

--Patti

Patti & Chip,

Thanks for your input.

I'm going to be in & out today so I'll keep checking on it and will probably wait to see what the end of the day brings. My line in the sand is also 160ish. So I guess we wait and see.

Thanks

I'm with you guys on MLM. It is not holding support well. But it is early. Would like to see some of my puts move down so well (laughter.)

Michelle

Chris

Love Canada - couple years back we paddled the Ottawa river with it running over 15 meter (not sure if meters or feet) over normal leves. We paddled a revolution so the huge water level was more bearable and we had the BEST time!!!! Would love to go back, but planning on paddeling the Delaware River this summer. Getting back into it.

Denise - I am still in MLM and for what its worth, ShadowTrader talks of support @ 157. Below that get out. I personally don't see the support @ 157, but since we are already there I am waiting for this afternoon before making any decisions. Keep me posted on your take. Good luck.

Trade on
Christine Lumia

Denise and others,

As I posted in the previous thread (nobody told me it was 'clean cups' time!) I waved buh-bye to MLM after the first 15 minutes of the day. I should have sold yesterday according to my rules and my trend lines. YMMV.

Oh look - now we are below 157 on mlm - in just that small time frame. I am starting not to like this play.

Christine Lumia

Jeff,
As usual, great stuff on those videos. I've scribbled notes and will sort through the lot during the day today. Thank you so much!

CAT & BSC are the only things saving my butt today. Oh, and MRVL to a lesser extent. Bought some OTM calls last week on a small cup 'n handle breakout and its doing great today so far.

Michelle,

Doesn't look good for MLM coming back to the ~$160 area, although will hold until later in the day. Still heading down...and looks like it's probably broken...and can't get up!

DG, sorry about not keeping up with the "clean cups"! I have to admit that you have me on the "YMMV", please...enlighten!

I can't see any firm support at $157...if someone else does that would help me understand where that's coming from.

DECK, GRMN, SBUX and a few small gains on others so far today are helping me today...just a little.

Does anyone know what is up with ATI? I dont see any news

Traded out MLM for VLO this morning. MLM was nudging my line in the sand yesterday.

Tom Degroodt

DECK.

I'm thinking of replacing MLM with this little beauty today. I've got MLM in my 401k so I've not been too worried about the ups and downs. But it's looking a little sickly this last little while and DECK doesn't have the volatility.

Daughter #1 passed her driver's test so the other 250,000 dars in Oakville better be on the lookout!

Today would have been a good day to pick up some PCU. JWN is on a tear today too. And Holy ZOLT Batman!!!

Chris.

YMMV= Your mileage may vary. I was referring to trading rules and why I dumped MLM early today.

AKAM is going to replace Biomet on the S&P 500 after close tomorrow. This probably accounts for the big jump today. Doesn't bode well for a continued decline in it so I'm outta here.

DG my mileage definatly will vary now that I have a 16 year old driving my beautiful.... (sniff, sniff) car.

Chris

DG doesn't mince words "dumped MLM", understood on the trading rules and thanks for the YMMV definition.

Chris,

I guess I only have 12 1/2 years before I need to worry about my daughter and other drivers. I can only imagine! At 3 1/2 she only 'drives' me crazy, although I'm not at home with her all day like her mother!!! She's (and my Wife) are sweethearts!

Really, really good entries:

ADSK

NVT (if breakout holds)

ROST (if breakdown holds)

RTI (retest appears successful)

WTW (thanks Jeff). I backed out and saw a smaller sym triangle inside a larger, more beautiful one).

I pray the trading Gods don't punish me for posting these.

Re YMMV - it is definitely Your Mileage May Vary however the last time I wrote ymmv on this blog a few months ago, someone thought it meant Your Money May Vanish, which made me laff and I kinda like in this instance as well.

DG, now that you mention it, I remember that variation of YMMV too. Thanks for reminding me...I think that may be the case with MLM today!

Oh...and ARD is hanging in there today too. It's an oil play, which is also up today.

Chris,

My condolences on your daughter passing her driving test. Now all peace of mind goes out the window. 3 of my 4 kids are now driving and my wife and I don't sleep well until they are all in at night.
Jeff, thanks again for the great lists!!

Anyone have any thoughts on ANF. Good volume yesterday and today. Bounced off resistence trend line yesterday.

JB

AMB Nice bounce down off resistance.

Got out of MLM. The support break was too strong to wait. The loos can just get bigger.
Sold a put on VLO a week ago when it was at support. Closed today for a dime. As the stock continue its trend, I may get long on next signal

JB,
ANF looks nice today... huge volume and a nice big drop. That puts it out of reach for me right now, as I wouldn't be surprised to see some kind of retracement... but for me the trend's just not strong enough to jump in after such a big drop. Just my thoughts.

Hey Chip, I was out and just read your post about 15 back and you are talking about GRMN, DECK and something else keeping your head above water today. What the heck has happened to GRMN? My call is down .50 right now. Was it really up earlier?

Looks like the blog has continued to earn a living for me. We're up a decent amount today. A few down, but just a bit (except for AKAM which refuses to kick the bucket) but the only 4 that are up are up big time... well... medium time, anyway. DECK, DO, JWN, and ZOLT. But there are lots of good entries coming up after a day like today.