Daily Stock Report Monday Morning, July 9, 2012
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Friday's jobs report showed only 80,000 jobs created and
8.2% unemployment rate still remains. The markets sold
off as expected and it is likely the market starts trending
It is really difficult to forecast now so it's best to have a few
down for some weeks, especially with European news
smaller positions and wait for an extreme setup to get fully
looming about. Money flowed into US treasuries and
invested at that time. Don't try to be aggressive now.
German bonds as the two safe haven investments. This
data might put pressure for the Fed to provide stimulus and
Calendar (All Eastern times)
no doubt the Obama administration is pushing for that to
Monday, 300pm, Consumer Credit, $9.5B
improve his chances for re-election.
Wednesday, 700am, MBA Mortgage Index, -6.7%
Wednesday, 830am, Trade Balance, -48.9B
I don't see a whole lot of reasons for the market to trend up
Wednesday, 1000am, Wholesale Inventories, 0.3%
through the summer. Today's jobs numbers show there
Wednesday, 1030am, Crude Inventories
isn't any momentum or growth in the US economy. The
Wednesday 200pm, FOMC Minutes
Thursday, 830am, Initial Claims, 375K
country is "on hold" now until we get some clarity on who is
Thursday, 830am, Continuing Claims, 3300K
going to win the Presidential election although Romney is
Thursday, 830am, Import-Export Prices
likely to gain momentum after today's report. The odds are
Thursday, 200pm, Treasury Budget
very high that we continue to see negative news out of
Friday, 830am, PPI, -0.6%
Friday, 055am, Michigan Sentiment.
ROST, Ross Stores. Consider selling Monday if long.
The biggest event of the year isn't going to be the election
ORLY, O'Reilly Auto Parts. If you are long this stock after the big haircut
but how the politicians are going to deal with the budget
on their earnings warning, try to get higher prices. It is still trending up
agreement. Nobody is negotiating yet and it looks like it is
last 7 days. Sell on first drop but could keep moving up for a few days.
going to go down to the wire again late this Fall, probably
MNST, Monster Beverage is breaking down. Consider selling.
after the election knowing the political environment is so combative.
It is really difficult to forecast now so it's best to have a few smaller positions and wait for an extreme setup to get fully
invested at that time. Don't try to be aggressive now.
Most recent list of "Market worries":
Greece bailout and possible exit; Greece complains they want Spain's deal; Greece vote this weekend.
Spain bailout proposal being criticized as creating more problems in future; Spain asking IMF for money now.
Next news bomb: Italy likely going to need help but not in news lately
Germany is Europe's financial leader; says they pay biggest percentage of bailouts; must be weighing options.
European recession very likely to start
China's softening of economy or hard landing?
US economic data choppy; jobs market weak.
US Presidential election, momentum shifting toward Romney = Bullish
Apathy in retail investors
10. Brazil economy stalling
11. Money is flowing into US dollar, US Treasuries and German government securities.
12. US economic policy not repairing economy jobs data is weak.
13. India economy sharply pulling back now; just starting to hit news.
14. No serious discussion on US budget among politicians; Bernanke warns this as biggest fiscal cliff.
15. French President Hollande leaning heavily to the left toward spending and increasing taxes; not working well with Germany's Merkel.
16. Healthcare costs and tax structure for US companies unclear; US Supreme Court decision upheld heathcare law.
17. France being suggested as next European country to have financial problems.
18. Low volume summer trading.
19. US budget not established yet; deadline end of 2012.
Scalp of the day from Trading Room: (all eastern times)
VC, Virnetx had a short with a 6% potential profit today. Light volume but
good movement in stocks.
These scalps posted here are best ones we find in real-time each day and will do our
best to present these as timely as possible to the Trading Room and give
commentary and suggestions as how to profit from them. Normally a 2-3% profit is
very good per scalp. The Trading Room is now open! Start your $1 trial here:
Swing Trade Ideas: (Usually hold time is days)
A, Agilent. Consider small short
WLT, Walter Energy. Consider small short.
MRX, Medicis Pharmaceutical. Consider small long position.
BK, The Bank of New York Mellon. Consider small long position.
ECL, Ecolab. Consider small long position.
GWRE, Guidewire. Consider small short Friday.
RNF, Rentech Nitrogen. Monitoring for potential short next 1-3 days. CANCEL
Intermediate Trade Ideas: (weeks to months)
PKI, Perkinelmer. Consider small short.
CSC, Computer Sciences. Consider small short.
PXD, Pioneer Natural Resources. Consider small short.
QCOR, Questcor Pharmaceutical. Consider small short.
BAS, Basic Energy. Consider small short.
ERJ, Embraer Aircraft. Consider small long position.
KSU, Kansas City Southern. Consider small long position.
VC, Visteon. Consider small long position.
GRA, WR Grace. Consider small long position.
PEP, Pepsico. Consider small long position.
HIG, Hartford Financial. Consider small long position.
GRMN, Garmin. Consider small long position.
PPO, Polypore. Consider small long position.
EXR, Extra Space Storage. Consider small long position.
Focus Chart: (Worden Telechart 2007-Download FREE on home page
NXTM, NxStage Medical. Consider small long position.
LEAP, Leap Wireless. Consider small long position.
WLP, Wellpoint. Watching for long entry next 2-3 days. This needs to
LXK, Lexmark. Consider small long position.
stop dropping before buying long.
WFM, Whole Foods. Consider small long position.
Aggressive Investors-Traders (Higher risk, higher reward)
DNDN, Dendreon. Consider small short position. Volatile stock.
WLP, Wellpoint. Watching for long position next 2-3 days.
SUPN, Supreme Pharmaceuticals. Bullshort. Big move up on Friday which is typical
danger of Bullshort. This has low float, haven't seen any shares available to short;
CANCEL idea if no shares.
HNR, Harvest Natural Resources. Watching for potential short, for aggressive
Don't get leveraged on any of these aggressive ideas. Study Bullshorts in the Wizard
Training Course before attempting this high risk high reward strategy. It is best to let
these peak in price and turn down before opening short.
CMG, Chipotle Mex
Closed all long position at 405, 236% avg. profit
, Monster Bev.
y for 75
FNGN, Financial Eng
' go be
e ow $20
e k d
e ow $14
Likely to see drop if you are still short.
SHFL, Shuffle Mast
Closed Thursday at breakeven.
L Nobile Energy
i g l
l ng F
d y f
0 7% profi avg
M Human Health
Sold long Thursday, -3%; consider covering
O Taro Pharm
Closed short Thursday for 3% profit.
Stopped Wednesday for 3.6% loss
Covered short Friday with 2.2% loss.
, Scripps Netw
Approaching new highs
, Sherwin Will
Approaching new highs
A ting w
e k f
H L, Hexcel
Covered Tuesday for breakeven.
A , IamGold
m d 1
A , Lazard
Covered Tuesday for 3.3% profit.
M X, Imax
Covered Friday for 6.6% loss; consider covering
Z , Jazz Pharma
Looking for another 2-3 down days but reduce?
NSC, Norfolk South
. % l
Covered Thursday for 3% profit.
D , Dycom
Stopped Friday for 8.2% loss
QSII, Quality Systems SHORT-INT
s ort F
, Royal Bank
Covered Thursday for 15.5% profit.
HNR, Havest Natural AGGRESSIVE Small short position.
Downtrend firmly in place last 2 months
V T, Level 3 Comm. SHORT-SWI
e king d
d wn l
L , Core Labs
d y for
Covered Thursday for 4% loss.
s ort M
SUPN, Supernus Phar BULLSHORT
Monday's low was $8.70; watch for cover price.
M Talisman Enrgy LONG-INT
d y for 4%
d al u
d al u
HIG, Hartford Life
t is t
t rn o
Here are some highlights of comments and stock ideas from the LIVE Trading Room. Try a $1 trial for 1 week using this
July 6, 2012
July 6, 2012
TSA Moderator Chat
[06:14 am] Ed : good morning traders
[06:13 am] joeytsa : the next few weeks should be interesting to say
[06:34 am] Mitch K: watching MTH for bottom
[06:34 am] Mitch K: watching CAT for bottom to buy
[06:13 am] doji : Good morning fellas
[06:35 am] Mitch K: watching for short on GMCR
[06:13 am] skydiver : gm doji
[06:35 am] Mitch K: watching ADSK for bottom
[06:14 am] skydiver : gm Ed
[06:36 am] Mitch K: watching or top in XRTX for short
[06:14 am] joeytsa : Good morning Mitch, Ed
[06:36 am] Mitch K: watching couple of low priced stocks:
[06:14 am] dadecuir : Good morning!
PLCM and RVBD for bottom to buy
[06:16 am] skydiver : NFLX rose a bit more this morning
[06:36 am] Mitch K: watching VMW for bottom
[06:16 am] doji : NFLX crazy... people will go over the stock from
[06:37 am] Mitch K: to buy
the open most probably
[06:37 am] Mitch K: watching WYNN, MCP, WLT, VFC for
[06:16 am] doji : thos who lost tons of money when with was above
[06:38 am] Mitch K: missed bottom in TDC but watching for
[06:17 am] skydiver : crazy doji
another bottom to buy
[06:17 am] skydiver : on NFLX
[06:38 am] Mitch K: watching WDC for top to short
[06:17 am] skydiver : I see CRM is down
[06:39 am] Mitch K: watching WLT closer
[06:18 am] doji : Is Mike here?
[06:39 am] Mitch K: watching LRCX for bottom to buy
[06:19 am] doji : INFA at 30
[06:40 am] Mitch K: watching CRM for bottom to buy
[06:20 am] lisas : gm all
[06:41 am] Mitch K: good call on INFA earlier doji, missed
[06:20 am] joeytsa : no doji, mike will be in later
bottom here, looks like more upside
[06:21 am] doji : Thanks Joey
[06:42 am] Mitch K: watching CTXS for bottom to buy, should
[06:23 am] cdougan : Tons of Volume on INFA Doji
give multple trades today
[06:23 am] doji : YEs cdougan
[06:42 am] Mitch K: monitoring BIIB for top to short, take time
[06:23 am] doji : It's holding 30 right now
[06:43 am] Mitch K: watching WAT for bottom to buy
[06:23 am] doji : I'll watch it closely
[06:44 am] Mitch K: usually USG slow mover
[06:24 am] scalpman : INFA big gap down
[06:44 am] Mitch K: watching USG for top to short, take time
[06:24 am] cdougan : yea, will be interesting to see what happens
[06:45 am] Mitch K: watching LRCX closer
when it breaks 30. or If
[06:45 am] Mitch K: watching QLIK for bottom to buy
[06:25 am] skydiver : INFA - dissapointment with earnings - support
[06:45 am] Mitch K: watching ADSK closer, getting interesting
at 29.94 28.88 pivot low - according to fly on the wall
for long soon
[06:26 am] khall : thanks sky
[06:46 am] Mitch K: watching FTNT for bottom to buy
[06:28 am] joeytsa : INFA lost $30
[06:47 am] Mitch K: monitoring EQIX
[06:28 am] eyes : Does Anyone here know how to show Premarket
[06:48 am] Mitch K: watching LRCX closer
[06:48 am] Mitch K: monitoring EMC for bottom
[06:28 am] joeytsa : i forgot how i did it..its in one of the videos
[06:48 am] Mitch K: watching CTXS closer
[06:49 am] Mitch K: watching NIHD for bottom
[06:28 am] doji : INFA is tanking
[06:49 am] Mitch K: watching NFLX for a bottom to buy, should
[06:29 am] Ed : click on icon at top that looks like clock, u can chage
give a good bounce if it keeps dropping, was real bullish
[06:29 am] lisas : yes eyes, go to icons at top
[06:50 am] Mitch K: watching for top in XRTX
[06:29 am] lisas : about the middle
[06:51 am] Mitch K: watching QLIK for bottom to buy
[06:29 am] cdougan : Next support 0$
[06:51 am] Mitch K: these drops are getting more interesting;
[06:29 am] eyes : Got it ty
[06:53 am] Mitch K: consider sellling WYNN long
[06:29 am] doji : S=29.4 from a year ago
[06:53 am] Mitch K: watching ARNA for bottom
[06:29 am] lisas : 2 to left of black box around green bar symbol
[06:53 am] Mitch K: watching MCHP for bottom to buy
[06:30 am] doji : Wow INFA
[06:54 am] Mitch K: consider covering WDC if short
[06:30 am] skydiver : out 3/4 INFA S
[06:54 am] Mitch K: watching CTXS for bottom to buy
[06:31 am] skydiver : all out of INFA S
[06:54 am] Mitch K: watching PMTC for bottom, take time
[06:31 am] doji : Gap down to 27.10
[06:56 am] Mitch K: watching ADTN for bottom to buy
[06:31 am] doji : INFA
[06:58 am] Mitch K: watching RHT for bottom to buy
[06:32 am] joeytsa : i have 28.12 as the low?
[07:00 am] Mitch K: i still like all these charts that are
[06:32 am] skydiver : yes joey
dropping.... still looking for small bounces. Charts like WAT,
[06:32 am] joeytsa : ok good, doji had 27.10
CTXS, IBM, CRM, ADSK
[06:33 am] joeytsa : watching STX
[07:00 am] Mitch K: watching SYNC for top to short
[06:33 am] scalpman : OUt 1/2 INFA L
[07:01 am] Mitch K: watching ALK for top
[06:34 am] joeytsa : ES trying to hold 1350
[07:02 am] Mitch K: watching QLIK for bottom to buy
[06:36 am] joeytsa : XRTX moving
[07:05 am] Mitch K: watching PLCM for bottom
[06:37 am] eyes : Thanks Joey out 1% STX
[07:05 am] Mitch K: still monitoring GRPN
[06:37 am] joeytsa : INFA testing res
[07:06 am] Mitch K: ROmney is on and used similar term that
[06:37 am] joeytsa : push here might give a nice move
Reagan did in 1980 . . . do you want more of the same?
[06:37 am] joeytsa : just not ure i will
[07:08 am] Mitch K: Obama has proposed this twice at a rate of
[06:38 am] doji : INFA
0.0025 or 1/4 of 1%, no matter if you made or lost money, it is a
[06:38 am] joeytsa : trail STX if long :)
tax on the whole principle amount of the trade
[06:39 am] skydiver : missed LNKD and was starring at it on screen
[07:08 am] Mitch K: Mr. ROmney: will you propose a financial
transaction tax for every stock, mutual fund, etf made in the
[06:39 am] joeytsa : at least you were staring at it..i didnt look at it :)
[06:40 am] scalpman : out another 1/4 INFA L
[07:09 am] Mitch K: EU summit said they are going to create
[06:40 am] doji : GMCR
one in their meeting last week
[06:41 am] skydiver : monitoring CRM
[07:14 am] Mitch K: gives me a clue it will bounce well on any
[06:41 am] scalpman : All out INFA
rebound in the overall market
[06:42 am] joeytsa : $31printed on INFA
[07:14 am] Mitch K: CRM one of the very few stocks trying to
[06:42 am] skydiver : INFA - nice :)
[06:42 am] joeytsa : braindead play :)
[07:16 am] Mitch K: lower low on WLT
[06:42 am] skydiver : I'll take brain dead any day :)
[07:16 am] Mitch K: ADTN trying to bounce, still weak though.
[06:42 am] joeytsa : :)
We want to see all these dumpers start to move but watch index
[06:43 am] joeytsa : yeah MItch, CTXS,VMW,FFIV..all connected
like SPY or QQQ to see if overall market is moving
to INFA news
[07:18 am] Mitch K: wow, 123.03 for EUR
[06:44 am] skydiver : thnx joey on info . . .
[07:20 am] Mitch K: SYNC acting toppy
[06:44 am] khall : stinking trading computer crashed - had to totally
[07:22 am] Mitch K: LRCX bouncy
[07:24 am] Mitch K: SPY moving up
[06:44 am] joeytsa : oh no
[07:24 am] Mitch K: getting some bounces, CRM moving up
[06:44 am] doji : Apple needs to share the profits all thos NFLX
more, PLCM starting, starting to see stocks perk up
[07:25 am] Mitch K: ADSK, MCHP, RY bottoming
[06:44 am] joeytsa : watching OTEX
[07:25 am] Mitch K: GRPN, RVBD RY bottoming
[06:48 am] doji : QLIK at support
[07:26 am] Mitch K: WLT trying to bounce
[06:49 am] doji : NFLX dropping
[07:26 am] Mitch K: ALTR, UTX, LRCX, PMTC bottoming
[06:49 am] joeytsa : SXCI drop
[07:27 am] Mitch K: watching ILMN for bottom
[06:49 am] doji : NFLX CEO unloading stocks?
[07:30 am] Ed : GMCR still strong in uptrend has some
[06:49 am] doji : hahaha
potential resistance 25.95 area
[06:50 am] joeytsa : FOSL looks weak
[07:32 am] Mitch K: no follow through on the SPY bounce
[06:51 am] skydiver : JOY double bottom
[07:33 am] Ed : monitor APC has resistance in the 66.37 ish
[06:52 am] doji : NFLX
[06:52 am] joeytsa : same with LNKD sky
[07:39 am] Mitch K: Misery Index, i like that term, it was
[06:52 am] skydiver : thnx joey
developed right here
[06:52 am] joeytsa : actually seeing quite a few
[07:41 am] Mitch K: I was referring to work related problem joey
[06:53 am] skydiver : LULU as well
[07:43 am] Ed : monitor CHK been having trouble with 20 area
[06:53 am] joeytsa : yep, GS too
[07:50 am] Ed : SPY approaching lod
[06:53 am] joeytsa : i have them all on1 monitor funny enough
[07:55 am] Ed : if u took APC short would cover some here
[06:54 am] skydiver : watching FIRE for a bottom - funny joey :)
[07:55 am] Ed : if u took CHK short would cover some here
[06:54 am] joeytsa : eye on AMZN, see what it does ona pullbac to
[08:25 am] Ed : SPY new lows
[08:30 am] Ed : more selling in markets
[06:56 am] doji : NFLX L 82.13
[08:34 am] Mitch K: watching SUPN
[06:56 am] apple : nflx
[08:43 am] Ed : getting bounce in SPY
[06:56 am] joeytsa : only report coming up is Nat Gas storage at
[09:08 am] Mitch K: watching NAV
[09:22 am] Ed : monitor CHKP see if 46.95ish area holds
[06:58 am] joeytsa : approx 4pt opening range on the ES
[09:47 am] Ed : getting bounce in SPY
[06:59 am] skydiver : Wish I coiuld stay!! got to take a friend to the
[09:50 am] Mitch K: watching ALEX
airport - see you all later today maybe - if not Monday -- green day!!
[10:18 am] Ed : if u took CHKP long would reduce some here
[10:28 am] Mitch K: its a trading system eyes, much more than
[06:59 am] joeytsa : be good sky, FIRE moving
an indicator. but its coming along
[07:00 am] doji : FIRE too fast
[10:29 am] Mitch K: we will have an visual red warning over the
[07:00 am] skydiver : make lots of money joey and all !! kb
price chart when it is not recommended to trade. and an audio
[07:00 am] joeytsa : :)
that says "No Trading Zone"
[07:00 am] doji : CTXS
[10:30 am] Mitch K: not sure doji, been spending many man
[07:00 am] joeytsa : watching TDC at $65
hours trying to perfect it, make it faster, earlier, alerts toward the
[07:01 am] doji : Noooo... misseed the breakout in GMCR...
[07:01 am] doji : Need another screen
[10:31 am] Mitch K: no preview jason
[07:02 am] joeytsa : how many do you have doji?
[11:13 am] Ed : SPY near lod
[07:02 am] doji : 3
[11:33 am] Ed : getting bounce in SPY
[07:02 am] joeytsa : ok
[11:55 am] Ed : getting nice bounce in SPY
[07:03 am] doji : but have to switch to check e-mails and look at
[11:58 am] Ed : wathicng RBC for potential short
presentations during conference calls
[12:04 pm] Mitch K: hey is the midwest getting rain or
[07:03 am] joeytsa : ahhh gotya
something? Corn prices down a lot today
[07:04 am] joeytsa : buy a cheap laptop for that stuff
[12:04 pm] Ed : consider covorering some RBC short
[07:04 am] joeytsa : trail stop if long TDC
[12:13 pm] Ed : I wil trail last piece of RBC short
[07:04 am] joeytsa : nice hold at $65
[12:13 pm] Ed : cover more RBC short
[07:05 am] doji : WFT yesterday at 13... now lower 12.... that is an
[12:26 pm] Ed : out all RBC short
[12:56 pm] Ed : have an awesome weekend
[07:05 am] doji : Drop in SPY
[12:56 pm] Mitch K: later guys, have a good weekend, slowest
[07:06 am] doji : GRPN at 52-week low
day of the year that i could see was today
[07:07 am] joeytsa : just listening to that Mitch
[07:07 am] joeytsa : Romney called this a "kick in the gut" good one
[07:08 am] doji : SPY new lod
[07:08 am] khall : yeah - very good choice of words
[07:09 am] joeytsa : not sure i like the sound of the word "tax"
[07:10 am] khall : that is crazy - taxing every trade whether you gain
[07:10 am] khall : CRM looking like it's tryng to turn up here
[07:19 am] khall : dang, missed the rebound on LQDT
[07:19 am] khall : right on the screen too
[07:23 am] khall : INFA
[07:26 am] joeytsa : nat gas #'s in a few
[07:28 am] joeytsa : cant remember how, but a while back i signed
u for a free IBD Tech Report...
[07:28 am] joeytsa : it comes everynight, sometmes gives some
usefull info on stocks to watch the next day...
[07:29 am] joeytsa : last nights gave me the heads up on
VMW,FFIV,CTXS off the INFA news
[07:30 am] joeytsa : canada's IVEY PMI was awful..came in at 49.0,
with 55.4 forecast, 60.5 last
[07:31 am] joeytsa : there's Ed !!!
[07:32 am] Ed : easy to get lost in shuffle
[07:32 am] joeytsa : yeah, at least there is shuffling today though
[07:32 am] Ed : was speakn of the life shuffle
[07:33 am] joeytsa : ahhh
[07:33 am] Ed : on no thats football, the icky shuffle
[07:33 am] joeytsa : :)
[07:33 am] joeytsa : i still knw how to do thathah
[07:34 am] joeytsa : nat gas 39B
[07:34 am] joeytsa : forecast was 44B, last 57B
[07:35 am] aussie123 : Ed...if you remember the Ikky shuffle... your
[07:35 am] Ed : lol
[07:35 am] go4it : Mitch thanks 3% on XRTX!
[07:35 am] joeytsa : Ed still practices it in the mirror
[07:35 am] scalpman : GMCR S @ 24.86
[07:36 am] joeytsa : nice go4it !!!
[07:36 am] go4it : tks Joey
[07:37 am] Ed : nice bruce bruce
[07:37 am] go4it : tks Ed
[07:39 am] scalpman : out 1/2 GMCR 1%
[07:39 am] doji : Back
[07:39 am] joeytsa : i like it
[07:40 am] joeytsa : you sure thats not a poll of US husbands :)
[07:41 am] Ed : nice twade scalp
[07:41 am] joeytsa : :)
[07:41 am] khall : Obama speaking - hang on to your shorts - LOL
[07:42 am] joeytsa : dbl top on GS
[07:42 am] khall : speaking later this hour - not right now
[07:42 am] joeytsa : wonder how he will spin this job #
[07:42 am] khall : I don't know how he can really
[07:42 am] joeytsa : who can he blame this month
[07:43 am] khall : he needs more time?
[07:43 am] khall : overflow from Europe?
[07:43 am] doji : INA
[07:43 am] doji : INFA
[07:44 am] scalpman : OUt another 1/.4 GMCR S 1%
[07:46 am] scalpman : GMCR S Stop @ 24.71
[07:47 am] doji : out 1/2 INFA short... 1%
[07:48 am] scalpman : good on edoji
[07:48 am] scalpman : one
[07:50 am] doji : Thansk Scalp
[07:50 am] doji : out another 1/4, 2%
[07:51 am] doji : NFLX moving
[07:55 am] khall : Obama on
[07:57 am] doji : Obama moving NFLX?
[07:57 am] scalpman : NFLX L @ 84.02
[07:58 am] scalpman : out 2/3 NFLX L
[07:58 am] doji : By Jon Friedman , MarketWatch NEW YORK
(MarketWatch) -- I'm not drinking the Netflix Kool-Aid.Are you?I don't
believe this company's financial fortunes have yet brightened to a
point where this curious stock should soar 14% in Thursday
trading.Do you?I'm not buying what the stock market is selling -- the
hype that Netflix's shares will keep going up. Netflix Chief
Executive Reed Hastings delivered the news that Netflix's online
viewing surpassed 1 billion hours for the first time in June, in a
creative and ingenious way: He used social media. On Tuesday,
after the market closed, Hastings took note of the milestone on
Facebook . By bypassing the usual press release, he built a buzz
using social media, which may have made the news seem
sexier.Kudos to you, Mr. Hastings.He looked brilliant when, on
Thursday, the financial markets buzzed with the sound and fury of
Netflix's explosive rise. The shares closed up more than 13%, and,
naturally, all day there was chatter of a "bull
[07:59 am] doji : arket" in the stock.My comment: Ha ha ha.
[07:59 am] doji : market
[08:00 am] doji : out NFLX L 1/2
[08:02 am] doji : GMCR
[08:02 am] scalpman : Stopped on NFXL L b.e. on last piece
[08:03 am] Ed : nice going scalp, ur trading in the zone
[08:03 am] doji : I am still holding 1/2 position GMCR
[08:03 am] doji : NFLX sorry
[08:04 am] scalpman : Thanks Ed
[08:04 am] doji : GMCR full position
[08:06 am] scalpman : I didn't want to be overly enthusiastic but I
was Long INFA and then short...for $3100...lunch on me...one of my
[08:06 am] Ed : nice going scalp
[08:06 am] scalpman : Thanks...trying to remain calm
[08:07 am] khall : I wouldn't be calm - I'd be too excited - GREAT
[08:07 am] Ed : good, deal, now all forgotten, its in the past
[08:07 am] aussie123 : great scalp
[08:07 am] scalpman : yes...good deal...looking ahead.
[08:07 am] doji : You needed at least 2,000 shares on INFA
[08:08 am] go4it : WTG Scalp!
[08:08 am] scalpman : Yes..I hate to admit this..but I had 1000
shares...and got so excited when trying to sell as it moved, that
bought another $1000... as it kept moving up.
[08:08 am] scalpman : ..by accident...I truly a novice...
[08:08 am] go4it : WTG Scalp awesome!
[08:09 am] aussie123 : scalp ...its happened to all ofus at least once
[08:10 am] khall : yes, just happy for you that it worked out well
[08:10 am] scalpman : Thanks guys. I guess we do this for a day
like to day...
[08:11 am] scalpman : still working on regular trades, too.
[08:12 am] go4it : Emotions can mess with our brains good and bad
[08:13 am] Ed : agreed
[08:16 am] doji : CHK is messing with me... doesn't want to move
[08:19 am] Ed : what was news on CVLT
[08:24 am] rusty : gm
[08:24 am] rusty : German regulators are said to be launching probe
of Deutsche Bank related to LIBOR scandal
[08:24 am] apple : hey rusty gm
[08:25 am] scalpman : Watch BOIL
[08:25 am] doji : SPY making new lows
[08:26 am] eddy : stx at vwap
[08:29 am] scalpman : BOIL is "funky"
[08:30 am] doji : OIl dropping
[08:33 am] apple : watching DUK
[08:35 am] doji : out last 1/4 short INFA
[08:36 am] doji : it dropped down back to the VWAP
[08:36 am] joeytsa : AA reports monday afternoon...kickoff to
[08:36 am] doji : Thanks Joey... that willl be an interesting report to
[08:37 am] joeytsa : yep..especially if there are any hints at "euro
[08:37 am] doji : What do you think?
[08:37 am] doji : I already have my answer to that
[08:37 am] doji : but what to hear your input
[08:38 am] joeytsa : i think AA hints at it, then each company adds
[08:39 am] doji : SUPN is a bullshort in the DSR. I has moved over
[08:42 am] joeytsa : doji: what are your "earnings' thoughts
[08:44 am] joeytsa : i just dont see a healthy market overall
[08:44 am] joeytsa : china cut rates twice in a month
[08:44 am] doji : At least for oil companies, they will report revenue
as expected but earnings may be compromised; they will however
warining about Europe and adjust the EPS for the next quarters
[08:44 am] go4it : SUPN not easy to borrow at T/S
[08:44 am] joeytsa : tep
[08:45 am] joeytsa : thats yep, not tep
[08:47 am] go4it : lol Joey Iknew that
[08:47 am] go4it : also hard to borrow at Schwab
[08:48 am] joeytsa : same at lightspeed
[08:48 am] go4it : Mitch is teasing us again lol
[08:48 am] joeytsa : haha
[08:49 am] eyes : QCOM
[08:50 am] eyes : KLAC
[08:51 am] joeytsa : see you guys in an hour or so
[08:51 am] Ed : nice one apple on DUK
[08:51 am] apple : bye joey have fun
[08:51 am] Ed : c ya joey
[08:51 am] apple : yeah, i thought so, too, thx E
[08:53 am] doji : CRM has been holding 134.7 for almost 2 hours
[08:53 am] scalpman : bye joey
[08:54 am] apple : looks like SUPN getting ready to push higher
[08:54 am] doji : now breaking down with volume
[08:54 am] Ed : same with BIDU holding the 115 area
[08:58 am] doji : Euro new low vs. Dollar
[08:58 am] doji : 1.2279
[09:01 am] doji : SPY new lod
[09:12 am] scalpman : NAV L oout 1/2
[09:16 am] scalpman : stopped on 2nd half NAV...
[09:17 am] scalpman : Time to go...great day...see you all monday.
[09:17 am] scalpman : Thanks for excellent calls.
[09:17 am] scalpman : Bye
[09:18 am] scalpman : Scalpman has left the building!
[09:19 am] Ed : c ya scalp
[09:19 am] apple : bye scalp have a fun weekend
[09:20 am] cdougan : Have a great day everyone. Thanks for the
[09:20 am] Ed : c ya cdougan
[09:20 am] apple : bye cd have a great weekend
[09:20 am] eyes : QCOM bottomed out
[09:37 am] doji : Watcging INFA
[09:40 am] rusty : NAV bash CNBC
[09:51 am] doji : ALEX has 20c spread
[10:01 am] apple : BIDU broke consolidation
[10:02 am] Ed : thx appelonia, took my eye off it
[10:03 am] doji : BIDU?
[10:03 am] doji : I see a double top there
[10:03 am] eyes : Hows your Indicator coming along MITCH
[10:03 am] Ed : mentioned earlier aout holding 115
[10:05 am] Ed : yea doji, would not be buyer here in downtrending
[10:05 am] doji : Oh I see, the lower 115 range
[10:12 am] mh : nflx
[10:20 am] doji : INFA
[10:22 am] doji : NFLX at lod
[10:29 am] doji : Hey Mitch, when do you expect to release it? I
travel a lot so I'd like to be back at home when it's released; I don;t
want to miss it!
[10:29 am] eyes : Cool
[10:30 am] Ed : and it will say ur name like "NO TRADING EYES"
[10:30 am] Ed : just kidding
[10:30 am] eyes : All the Better LOL
[10:30 am] doji : hahahaha
[10:31 am] jsn13 : Mitch, do u have a preview for us now? for the
new added feature....
[10:31 am] jsn13 : Ok no prob mitch....
[10:31 am] doji : No problem Mitch but if you can just give us a
heads up 2-3 weeks in advance, I'll extremely appreciatte it...
[10:40 am] rusty : Mitch how come when I link up to your automated
trading system (beta) am only making 50k/day instead of the usual
[10:41 am] Ed : emotions??????
[10:43 am] rusty : SUPN hod, low volume stock being played by
[10:49 am] eyes : WHAT A DAY
[11:13 am] apple : hey, but good ole RIMM is climbing
[11:17 am] khall : That is hilarious apple
[11:17 am] apple : BIDU is hugging that 115 area
[11:17 am] apple : one last hurrah?
[11:17 am] khall : dead RIMM bounce
[11:17 am] apple : before death
[11:18 am] apple : RIMM taps
[11:20 am] apple : DMND also moving higher today
[11:22 am] murano : TPX
[11:23 am] apple : thx murano
[11:23 am] doji : NFLX
[11:25 am] apple : doji SLB down today, were you short
[11:25 am] doji : Yes Appple, got it at 65.95 this morning
[11:25 am] apple : LEN also made it back up
[11:26 am] doji : Using the Open Range
[11:26 am] apple : good for you
[11:26 am] doji : I forgot about LEN today
[11:26 am] apple : uh oh....
[11:26 am] apple : great job on SLB doji
[11:26 am] doji : Was watching INFA instead
[11:28 am] apple : it just dropped and pretty much consolidated
[11:28 am] apple : SHLD dropped today as well
[11:29 am] apple : nice drop on TPX
[11:29 am] apple : big drop on PANL as well
[11:30 am] doji : The EUR/USD hit the 52-week low
[11:30 am] apple : thx doji
[11:30 am] joeytsa : thx doji
[11:31 am] joeytsa : gregs : are you here?
[11:33 am] eyes : Hey For anyone looking For Computer monitor
Stands Costco.com has a awesome one
[11:33 am] apple : he should be joey, just checked, he's logged in
[11:33 am] apple : how is the cat doing
[11:34 am] joeytsa : they are still checking the kidneys, thanks for
[11:35 am] apple : poor baby
[11:37 am] gregs : eyes, do you mean the visidec one
[11:37 am] apple : there's greg joey
[11:37 am] gregs : uh oh what'd i do
[11:37 am] joeytsa : gregs: you asked me a question about gaps
yesterday, did i answer it for you?
[11:37 am] eyes : yes it is really nice mine just showed up
[11:38 am] gregs : i think so, i asked about scanning on volume and
you said you scan on price change, not %
[11:38 am] gregs : which i found interesting, but i suppose you
really just care about the number of shares X price change
[11:39 am] joeytsa : good, just wanted to make sure that my answer
[11:39 am] joeytsa : i look for price change first, but do need to see
some volume..dont want a stock thats only traded 2000 shares for
[11:39 am] gregs : i think so... i played with INFA today and got a
little burnt... think i'm going to make a rule to play with <5%
[11:42 am] apple : sounds good greg
[11:42 am] doji : The wider the gap the better,and if it consolidates
near S/R, then you just need confirmation to play it
[11:43 am] joeytsa : yeah gregs, you have to find whats comfortable
[11:43 am] joeytsa : i also avoid takeovers/buyouts etc
[11:44 am] joeytsa : best gaps are the ones that make no sense ( to
[11:44 am] joeytsa : ie: stock has great earnings but gets
[11:45 am] gregs : hmm thats interesting
[11:46 am] gregs : is that because the earnings were lower than
[11:46 am] joeytsa : drop on great earnings is usually do t profit
[11:46 am] joeytsa : most likely the daily chart would have been in
[11:47 am] gregs : doji, hod/lod works for me too, especially if the
stock heads in the opposite direction and turns around in a "u"
shape (sometimes can only see u on tick chart)
[11:48 am] gregs : joey, to what extent do you let the 15m chart
influence you on gaps? besides it being an e-gap or r-gap
[11:49 am] gregs : or do you just play what you see on 1m
[11:50 am] joeytsa : honestly, i only use the 1min
[11:50 am] joeytsa : esp on the open
[11:50 am] gregs : cool, yeah sometimes i think i overthink the gaps
[11:51 am] joeytsa : gaps are tough, move fast
[11:53 am] rusty : TPX radar
[11:53 am] doji : NFLX
[11:54 am] doji : SPY moving
[11:55 am] joeytsa : VFC nice move past few minutes
[11:57 am] doji : Professional Money Managers getting back to work
on Monday...... don't take prisioners during the weekend
[12:02 pm] rusty : Professional money managers are in the
Hamptons flirting with your daughter
[12:03 pm] gregs : haha
[12:04 pm] doji : Easy Rustoleum...
[12:05 pm] doji : /ZC down 2.26% Mitch
[12:06 pm] doji : basically loosing all yesterday's gains... that is on
[12:06 pm] gregs : so, is it crazy to attempt entries on RBC if they
break the trendline on the tick chart and/or the 20 period MA?
[12:07 pm] gregs : i did just now and yesterday and its working, so
wondering if this makes sense
[12:07 pm] gregs : not having as much luck entering on pullbacks