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Awesome Jeff. Haven't watched the video but can't wait.

If anyone is looking to get into FXI, it is testing the resistance it broke yesterday. Looks like a pretty good entry but I'm not feeling it personally right now. Just thought I'd mention in case you are.

KLAC...Breakout downward this morning or a fake out? I say short break down. Any second opinions?

KLAC - no comfirmation yet. it is a sym tri, wouldn't the down confirmation be below 56 (lower low then the last one or at least a close below the trend line i-e below 57

Clean Cups means that Jeff posted a new article in his blog and we need to move to posting comments on the new article. This way we can all be on the same page

Thoughts on FTO? Looks like an evening star at resistance with a potential to close below 30 day SMA, horizontal and diagonal spt.

Thanks for the Watchlist Jeff. You rock! I just can't decide if I'm bullish or bearish.


In order to help you figure out your stance you need to look at it based on your time frame i-e you need to look at the carts and figure out what is short term, intermediate term and long term stance on the market. Based on the time frame then you need to formulate you trading plan. This was one of hardest thing for me to figure out. But once you do that things become easier to figure out

it is my understanding that

Short term is 4 days - 4 weeks
Intermediate Term is 4 weeks to 4 months
Long term is 6 months and greater

my $.02

Gang please chime in and correct me here

Hey Jeff-

Thanks for sharing your list. With repetition comes clarity. You have a real knack for communicating ideas clearly. 10 minutes is all it takes.



I agree with you on looking at a short, intermediate and long term time frame to determine your stance on the market, or the play you're evaluating. My only difference is that I don't put hard numbers on my timeframes.

Short term - days to weeks
Mid term - weeks to months
Long term - months to years



same concept :-)

The main idea is to keep an eye on the time frame you are looking at. I even have split sharts on my TOS desktop where I have a weekly chart, daily chart and even a hourly chart (more for better entry and exits). Having the weekly chart makes me keep an eye on the longer term trend which helps keep things in prospective.

Hey guys,

Any one else seeing the double top on GRMN? Or are my eyes playing tricks on me?



You see a double top. I see an ascending triangle. But you know what? It's neither until it breaks $105 or $85.

Great watchlist!



Thanks for the watchlist, Jeff! Haven't looked at it yet as I just got in.

Got stopped out of SLB by ONE PENNY. I HATE when that happens. My chart shows the low of 91.44 and my order was in at 91.45. So of course its the low of the day. So far.

Thanks for the watchlist video. It is very informative and helps me put things in perspective. Sometimes I can look at a chart and if I look long enough, I can see what I want to see. So, between you and all the wonderful OA's, I get different opinions.

I took a put trade on VMC this morning and then was reminded to check out the 5-year chart. I'll be keeping a close eye (and stop).

Thanks again OA's.



No, no double top...I see an ascending triangle, especailly if it bounces off of $95....and I am getting ready to add to my bullish position...

I saw this peeking into Bretts ball...

Uh, I meant Brett's crystal ball..

Well now, shoot, I see Brett answered Tysons question about GRMN..guess I am late to the party...jeeeesh

Sicne I am late to the the show, I'll toss out a trade... is breaking out of a bear flag today, though on light volume. But it did break through $70 on strong volume, so today is a great REE with a bail out at $70..and a minimum target of $65....and then down to $60.....but I am not taking this trade until the end of the day, I want to see it close below $70...

So be gentle with her....

CAT re-testing H&S neckline of 77.


BSC looks like it's forming a hammer with the gap down. Time to sell? Thoughts please.



BSC...sell what? what do you have, when did you take it?

I bought an Oct $120 strike put on 08/20/07.



Look at the hourly chart and you will see that the hammer is mostly because of a move up earier. Currently it seems to be breaking down. What is your target exit?

I think it can easily go to 100 and test it again.

anyone have thoughts on OII, enter long around 63, broke horitzontal support sitting right on the diagonal trend line. analyst downgrade, is it time to bail? it's sooo close.



On a 3 year chart i have good support at 106.50ish..but I dont disagree that $100 could be tested again. Use THICK LINES.

If it breaks that support area, look out below. Of of course it can bounce hard like it did 8/16 and 17, on volume...

I would not have taken the trade in the first place to be honest, but now that you are in, you should follow your plan that you had before you took the trade...that is if you had one. If you did not, I'd probably hold and see if it falls some more tomorrow...As far as todays candle, for me, it is meaningless....BUT DO NOT TAKE MY ADVICE!!!DISCLAIMER MADE...LOL

I have my first target at $107. I looked at a 5 year chart and it looks like good support.

I appreciate the feedback. I have trouble letting my winners run. Tell me what you see for $100 target. Thanks.


TSL - a bright light on a dark day. Gonna jump in here at the close. Excellent REE.


I'm also watching OII. Where is your hor. support? I see it as about .60 below the diag. trend but less than 20% of the volume. Usually, if it is only about .25 below support with low volume, I stay in another day. But this one, I'm still not sure about. Sorry I can't be of more help.

Tell me why you would not have taken the trade. I like your comments. I'm pretty much a newbee and it probably shows with my entries & exits.


Doji Girl..

you peeking into my crystal ball are you?? (TSL)


A hammer candlestick means nothing (in terms of a reversal that is) until it is confirmed. BSC is going down. I think Mahmood that it will test $100 again. If $100 breaks, you will be real glad you held it. If the hammer confirms, you won’t be glad you held it.

I, for one, will be holding BSC. It is a gold mine in the making if the fed doesn’t get crazy on us… Even if they do and you hold October paper, you have time because they can’t do anything to stop the credit mess any time soon.

Doji Girl on TSl 1 yr chart its hitting a support, but also a large double top pattern, perhaps, I'd wait for confirmation. also FSLR and SPWR weak. Just a thought.

Doji Girl and Raimo,
are you guys looking at double tol break out on TSL?

I do not see much confirmation yet.

Doji Girl,

just one more thing I love this setup, if it confirms I'd take this trade in 2 seconds....

my estimate on BSC was based on it being the last low. MACD is still pointing down onit, i do not see a reason to get yet but then like Raimo I would not have taken this trade because to me this stock was channeling. I look for a more defined trend like GS or ICE.

What BSC trade??? I'm curious.



I am looking at a solid support line at $40ish...been here three times now and rallied up each time. Today it is up 1.8% on a nealy 2% down day overall on the inices. That is strength, I am thinking going long here..but I may wait until tomorrow to do so. I've been watching this with Brett for weeks now...and now I am thinking DG sees our crystal balls...


barbara too a Oct 120 put trade on 8/20 and is wondering if the hammer she is seeing means she needs to get out

I think it still has room down


barbara too a Oct 120 put trade on 8/20 and is wondering if the hammer she is seeing means she needs to get out

I think it still has room down


barbara bought an Oct $120 strike put on BSC on 08/20/07, was aksing if she should get out..

Thanks for the video... it really helps.

I guess its you and me again. I see weakness in the stock and i would look for a move above 43 before taking a bullish position on it.

It the same thing almost as CROX. I am playing it down right now but was ready to go bullish on it if it went above 62.25 and my bearish point was below 59.25

Channel in or channel out

sorry guys for double posting. I hit the publish twice by accident :-0


The biggest reason why I would not have taken the trade is look at the price movement between 120 and 100.....huge, fast, and affected by fed news. Between 100 and 120 there is no trade least not the type of trades I am comfortable with.

while your entry at 120 ish was good, the potential move down is hindered by that 100-106 support area.

As Mahmood stated, better trades out there.

Jeff (and every other helpfull person on this blog),

Finally them Bears came out of the woods.....and boy is there a lot of them. I just wanted to thank you for your opinions and observations into the Market on this blog and at the Investools workshop in Chicago.

Because I've only been trading options for two months that turn in the Market three weeks ago really caught me off guard and I lost a lot of Money in my account(about 15 -20%) and my confidence was hurting really bad.....and because I learned my lessons today I've gotten almost all of them back...and I thank you for your support and teaching. The technical analysis education here is priceless.

Dr. Tony
p.s. I think I really needed to lose some money because the first two months were just too easy. It's really made me a better trader.

BSC was down 3% today! You should be bragging! Why the *Help*?

I don't see a hammer, but enjoy the profits!

Who traded ATI? Anyone...anyone...?


I jumped in Thursday. This is exactly the move I was looking for. I would like a little more volume, however, I will take the price action.

I already had a play in X so I did not take ATI, very similar plays and both are working great.

Thanks for the watch list awesome stuff.

I've been watching TSL for months. Traded it back in March from about 43 to 55, got out too soon and vowed that if it got back to 40 I'd take it again. So I did. Don't like that it dropped .50 in the last 15 minutes or so but it was real strong all day.

And yeah, I can see your crystal balls. That's why they call me the Good Witch of the East Coast.

Jeff & OA Family,
Have been reading OA blog and comments for a few weeks, now. Am new to this blogging biz. But, mainly I'm here to improve my trades. Entries and exits - HELP

Thanks to Jeff and all who contribute. I learn from the questions, too.


Hi Jeff,

Thanks for the new watchlist.

I bought ATI on Fri with a current profit of 34.95%.

Thanks for all your help.

Jeff, Thanks for the watchlist!

I jumped into KLAC at the close today.


Good Witch of The East..

H,mmm.....Looking at my balls aye....H,mmm.....

I did not take TSL at the close....gonna wait to make sure it bounces ...

What does your broom say??

ATI...NICE, and happy to be in it...


I have not forgotten you either'll get yours..soon too..

Didn't trade ATI. I already had too many puts going waiting for the move and didn't want to take on anymore risk if the market didn't head down soon. Glad to have a down day. Got stopped out of my BIDU, but it will be a better entry point soon.

Anybody play ICE?


Got into ATI on Friday with a 42% profit. Nice ride down today.


Grabbed ICE at the top on Friday. Looks to be a cold ride down.

Clean cups guys

I'm also on the GRMN Asc. Triangle bandwagon. I bought in on 8/16 and 8/17 and I'll not get out unless it drops below $90. I know many of you don't use MA support as a guide but we also have 30 day MA as support at around $92.30 currently, in addition to diagonal support.

James H.

I got into ATI on 8/23 ;-)

KLAC order did not fill today :-(

looks like i missed a very interesting day, dow was at -129 when i was on lunch.....i am surprised with the closing numbers 9but my acct liked it!!)

I am so pissed!! The one day I force my self to step away and trust my stops Jeff calls a conference call. Have to catch it next time.

Jeff, can we go back into webex and view the call after the fact?

Raimo - I have had RIMM on my radar waiting, waiting, waiting. Seems the way all my plays are going lately.

I'm sitting on ICE, ATI, NGPS, AAPL POT The only thing saving my accounts is that BPHX was at my REE on 8/17 so I took a large position. Will prob. take some off the table at the end of today.

Again wait,wait,wait,


An other flag developing on BIIB. Like the volume patterns.


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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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