Daily Stock Report Tuesday Morning, July 3, 2012
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US stocks didn't have the follow through as you would
expect from a 3% gain on Friday. The ISM index dropped
sharply below expectations to 49.7, the lowest reading in 3
With this holiday week, the trading volume is light so stock prices
years. Below 50 is considered a contracting economy.
tend to be exaggerated. The bias is to the upside this week and
Expectations around the trading floors were building
long positions should perform better than shorts.
toward the Fed steps in with a stimulus plan and if that
expectation grows, it is likely investors will be disappointed.
Calendar (All Eastern times)
Monday, 1000am, ISM Index, 52.2 (>50 is expansion)
It was obvious this morning that many people left for
Monday, 1000am, Construction spending, 0.2%
vacation based on the lower volume and that is going to
Tuesday, 1000am, Factory Orders, 0.4%
dwindle more this week as July 4th is in two days. The
Tuesday, 200pm, Auto and Truck Sales, 4.7M & 5.9M
market closes early tomorrow at 1:00pm eastern time and
Thursday, 700am, MBA Mortgage Index, -7.1%
Thursday, 730am, Challenger Job Cuts, 66.7%
no trading on July 4th. Full trading hours resume Thursday
Thursday, 815am, ADP Employment Change, 105K
Thursday, 830am, Continuing Unemployment Claims, 3.283K
Thursday, 1000am, ISM Services, 53.0
We are riding on the short few days that we get a relief of
Thursday, 1100am, Crude Inventories, -0.133M
Friday, 830am, Nonfarm Payrolls, 100K
negative European news and next week we may hear some
Friday, 830am, Unemployment Rate, 8.2%
new twist that rattles the market again. It has to be a long
Friday, 830am, Hourly Earnings, 0.2%
process of working out the European crisis with Italy and
Friday, 830am, Average Workweek, 34.4
Spain are on the ropes now.
ROST, Ross Stores is selling off the last two days on the publicity of
discount stores are over-priced.
We are looking to reduce the long positions in selected
ORLY, O'Reilly Auto Parts. If you are long this stock after the big haircut
stocks as prices rise and expect the existing short positions
on their earnings warning, try to get higher prices to sell next 1-2 days.
to come back down in price.
MNST, Monster Beverage is breaking down. Consider selling on a little
rebound. Usually this means the momentum will start to come out of this
REPEAT: With this holiday week, the trading volume is light so
and direction change to downtrend.
stock prices tend to be exaggerated. The bias is to the upside this
week and long positions should perform better than shorts.
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. US Housing recovery not strong yet
11. Brazil economy stalling
12. Money is flowing into US dollar, US Treasuries and German government securities.
13. US economic policy not repairing economy.
14. Current US president not strong leader; creating more debt
15. India economy sharply pulling back now; just starting to hit news.
16. No serious discussion on US budget among politicians; Bernanke warns this as biggest fiscal cliff.
17. French President Hollande leaning heavily to the left toward spending and increasing taxes; not working well with Germany's Merkel.
18. Healthcare costs and tax structure for US companies unclear; US Supreme Court decision due week as late as Thursday 6-28-2012.
19. France being suggested as next European country to have financial problems.
20. Low volume summer trading.
Scalp of the day from Trading Room: (all eastern times)
LEAP, Leap Wireless had a 5% bounce. Stocks moved well both directions
on Friday and should repeat on Monday.
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)
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.
Intermediate Trade Ideas: (weeks to months)
PEP, Pepsico. Consider small long position.
HIG, Hartford Financial. Consider small long position.
ICON, Iconix Brand. Consider small long position.
GRMN, Garmin. Consider small long position.
PPO, Polypore. Consider small long position.
EXR, Extra Space Storage. Consider small long position.
NXTM, NxStage Medical. Consider small long position.
LEAP, Leap Wireless. Consider small long position.
LXK, Lexmark. Consider small long position.
TLM, Talisman. Consider small long position.
WFM, Whole Foods. Consider small long position.
CANCEL IDEAS BELOW:
DV, Devry. Consider small short position. CANCEL IDEA.
COP, ConocoPhillips. Consider small long position.
BK, Bank of New York Mellon. Consider small long position
RMD, Resmed Health. Consider small long position..
SFD, Smithfield Foods. Consider small short position.
Focus Chart: (Worden Telechart 2007-Download FREE on home page
Aggressive Investors-Traders (Higher risk, higher reward)
SUPN, Supreme Pharmaceuticals. Bullshort. Consider small short, start in small
SUPN, Supernus Pharmaceuticals moved from $5.85 to
increments. Study Bullshort chapter in Wizard Training course.
$15.09 in one day last week and has substantial downside
HNR, Harvest Natural Resources. Watching for potential short, for aggressive
profits on the short side if you are able to find shares to short.
This hit $8.70 on Monday's low; looking for below $8 but be
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 giving i
e 1-2 d
FNGN, Financial Eng
Re-entered short Thursday
Expecting to resume downtrend.
SHFL, Shuffle Mast
Missed Wed low to cover; waiting for lower price
L Nobile Energy
Crude oil moved up $8 /barrel on Friday.
M Human Health
Often a volatile healthcare stock.
O Taro Pharm
Lower low Monday, looking for lows under $35
Stopped Wednesday for 3.6% loss
Covered short Friday with 2.2% loss.
A , BE Aerospace
Covered Tuesday for 5.5% profit.
, Scripps Netw
p oaching n
, Sherwin Will
p oaching n
A IA, AsiaInfo
e king d
d wn l
Starting to move up.
Covered Tuesday for breakeven.
A , IamGold
Small short position.
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
Small short position.
Covered Thursday for 3% profit.
D , Dycom
Stopped Friday for 8.2% loss
QSII, Quality Systems SHORT-INT
Stopped Friday for breakeven; watc
t h f
O , Capital One
Small short position
, Royal Bank
Covered Thursday for 15.5% profit.
HNR, Havest Natural AGGRESSIVE Small short position.
SHOO, Steven Madd
s ort n
e t 1-2
Downtrend firmly in place last 2 months
V T, Level 3 Comm. SHORT-SWI
Small short position.
N X, Newfield Expl
. % p
L , Core Labs
Small short position.
Small short position.
Small short position.
SUPN, Supernus Phar BULLSHORT
ow was $
t h f
M Talisman Enrgy LONG-INT
Small long position.
d al u
m ll l
m ll l
HIG, Hartford Life
m ll l
Here are some highlights of comments and stock ideas from the LIVE Trading Room. Try a $1 trial for 1 week using this
July 2, 2012
July 2, 2012
TSA Moderator Chat
TSA User Chat
[06:15 am] Ed : good morning all
[06:07 am] eyes : How are you doing ED
[06:28 am] Mitch K: OPEN is down premarket
[06:08 am] Ed : doing fine how bout you
[06:32 am] Ed : watching LQDT for bottom to buy
[06:08 am] eyes : Ready to start a new day
[06:33 am] Mitch K: watching FRAN for top to short
[06:09 am] khall : Good morning all
[06:34 am] Ed : Still no signal on LQDT
[06:13 am] qwert : Good morning everybody
[06:34 am] Mitch K: watching UA for bottom to buy
[06:14 am] apple : good morning to all keen traders
[06:34 am] Mitch K: monitoring BBY for top
[06:14 am] joeytsa : Good morning Mitch,Ed, everyone
[06:34 am] Mitch K: watching FAST for bottom to buy
[06:14 am] apple : gm qwert
[06:35 am] Mitch K: watching WWW for bottom to buy
[06:14 am] apple : gm joey
[06:35 am] Mitch K: watching MCK for top to short
[06:14 am] apple : gm khall
[06:35 am] Mitch K: watching NAV for bottom to buy
[06:14 am] apple : gm eyes
[06:36 am] Mitch K: also watching WTW for bottom to buy
[06:14 am] apple : gm E
[06:37 am] Mitch K: watching MOS for top
[06:15 am] eyes : GM Khall qwert aaple
[06:37 am] Mitch K: watching WYNN for top to short
[06:15 am] lisas : gm all, good to be back!
[06:38 am] Mitch K: WYNN toppy
[06:15 am] apple : kicking myself - sold CELL last Fri small loss -
[06:38 am] Mitch K: watching SXCI for top to short
today gained 3 points!
[06:38 am] Mitch K: watching APOL for bottom; missed juicy top
[06:15 am] apple : gm lisa
[06:38 am] Mitch K: watching VHC for top to short
[06:15 am] lisas : Hi apple
[06:39 am] Mitch K: watching PPO for bottom
[06:15 am] joeytsa : 7pst brings the ISM manufacturing
[06:39 am] Mitch K: watching VHC closer
pmi,construction spending,ISM manufacturing prices
[06:39 am] Mitch K: watching CNX for top to short
[06:16 am] skydiver : gm everyone
[06:39 am] Mitch K: watching POT for short here
[06:16 am] joeytsa : CELL was acqured
[06:40 am] Mitch K: watching BBY closer
[06:16 am] skydiver : gm Mitch and Ed
[06:40 am] Mitch K: watching HCA for bottom to buy
[06:16 am] joeytsa : seems like quite a few buyouts today
[06:40 am] Mitch K: watching FDO for top to short
[06:16 am] apple : that explains it... thx joey
[06:40 am] Mitch K: watching ROST for top to short
[06:16 am] apple : gm sky
[06:41 am] Mitch K: BBY toppy
[06:16 am] skydiver : gm apple
[06:41 am] Mitch K: watching JOY for bottom
[06:17 am] joeytsa : IM agreed to acuire them for $9/share
[06:41 am] Mitch K: watching MLNX for top to short
[06:17 am] khall : AMLN and LNCR also buyouts
[06:41 am] Mitch K: watching LQDT closer, not bottom yet
[06:18 am] eddy : gd morning all
[06:42 am] Mitch K: watching SYK for bottom to buy
[06:18 am] joeytsa : DELL acquiring QSFT
[06:43 am] Mitch K: watching ESI for bottom to buy
[06:19 am] apple : thx joey and khall
[06:43 am] Mitch K: watching DV for bottom
[06:19 am] apple : gm eddy
[06:44 am] Mitch K: watching ESI for bottom to buy
[06:19 am] khall : morning eddy, apple, qwert
[06:44 am] Mitch K: watching OPEN closer
[06:20 am] eddy : hi khall
[06:44 am] Mitch K: all three education stocks dumping, latest
[06:20 am] khall : welcome back lisa - Happy Monday
one is CECO, others posted were APOL, DV, also watch ESI
[06:21 am] dadecuir : Good morning, every one!!
[06:45 am] Mitch K: watching GRPN for bottom
[06:21 am] joeytsa : dadecuir: are you new?
[06:46 am] Mitch K: or sell
[06:22 am] Ed : welcome dadecuit
[06:46 am] Mitch K: consider reducing FAST long
[06:22 am] apple : gm dade
[06:46 am] Mitch K: watching SHPGY for top to short
[06:23 am] Ed : dadecuir
[06:46 am] Mitch K: monitoring OSIR drop
[06:23 am] khall : welcome to the room dadecuir
[06:47 am] Mitch K: watching $27 area for FRAN short to cover
[06:23 am] skydiver : welcome aboard dadecuir
[06:47 am] Mitch K: watching UNH for bottom to buy
[06:23 am] dadecuir : Yes. I'm new.
[06:48 am] Mitch K: consider reducing WTW long
[06:23 am] qwert : gm dadecuir welcome
[06:48 am] Mitch K: but trading will be more volatile too, which
[06:24 am] joeytsa : good to have you
is a good thing
[06:24 am] lisas : Hi dadecuir
[06:48 am] Mitch K: watching MAKO for top to short
[06:24 am] eddy : welcome dadecuir
[06:48 am] Mitch K: much fewer ideas today, July 4th holiday
[06:24 am] lisas : Hi khall!
vacation going to be very light on ideas
[06:25 am] joeytsa : lisa lisa :)
[06:49 am] Mitch K: watchign POT if goes below open price
[06:25 am] lisas : joey joey, liked the video!
around 43.68; if goes below, watch out below
[06:25 am] khall : lisa :-)
[06:49 am] Mitch K: LQDT bounce is very weak
[06:25 am] joeytsa : ahhh, thanks :)
[06:49 am] Mitch K: APOL tyring to bounce
[06:26 am] jolliffboy : welcome ddecuri, where are you located???
[06:50 am] Mitch K: consider reducing SYK long
[06:27 am] apple : gm jolli
[06:50 am] Mitch K: MLNX toppy
[06:27 am] jolliffboy : hey apple.
[06:52 am] Mitch K: consider reducing OPEN
[06:28 am] apple : gm MK thx
[06:53 am] Mitch K: consider selling remaninig WTW long
[06:29 am] doji : Good Morning
[06:53 am] Mitch K: looking for 92 area to reduce UA long
[06:29 am] Ed : Hey dadecuir quite a few ideas get recommended
[06:53 am] Mitch K: FRAN short broke below open now under
during first 90 minutes, dont feel like u have to take every trade, take
$27, should drop more
it slow to get the hang of the room
[06:53 am] Mitch K: MAKO toppy
[06:29 am] lisas : Hi Doji!
[06:53 am] Mitch K: watching SINA for bottom to buy
[06:29 am] doji : Hi Lisas!
[06:54 am] Mitch K: also POT still pointing down
[06:30 am] apple : gm doji
[06:54 am] Mitch K: getting acceleration on the downside with
[06:30 am] doji : Hi Apple
MOS, WYNN, CNX, now SXCI and USG
[06:32 am] scalpman : LQDT for bottom
[06:55 am] Mitch K: LQDT getting going on the bounce
[06:32 am] eyes : LYB
[06:56 am] Mitch K: consider reducing UA long
[06:32 am] doji : LNKD
[06:57 am] Mitch K: watching MAKO closer to cover short
[06:33 am] doji : FB
[06:57 am] Mitch K: consider selling FAST long
[06:40 am] doji : Test
[06:57 am] Mitch K: consider covering most of FRAN short
[06:40 am] Ed : i c ya doji
[06:57 am] Mitch K: soon
[06:40 am] doji : Thanks
[06:57 am] Mitch K: watching VRA for bottom
[06:43 am] apple : PCYC moving
[06:58 am] Mitch K: watching FB for bottom to bounce, looks
[06:44 am] apple : nice drop on OPEN MK
[06:47 am] joeytsa : AAPL up nice so far
[06:59 am] Mitch K: watching GRA for bottom
[06:47 am] joeytsa : ES testing some res here
[07:00 am] Mitch K: watching LULU for bottom
[06:53 am] joeytsa : nice call on OPEN,WTW
[07:00 am] Ed : drop in ISM number
[06:53 am] aussie123 : nke
[07:01 am] Mitch K: looking for under $86 on SHPGY short, be
[06:53 am] joeytsa : watching ALXN
[06:56 am] eyes : KRO
[07:02 am] Mitch K: consider reducing MCK short soon
[06:56 am] eyes : Never mind No Vol
[07:02 am] Mitch K: consider covering some of MAKO short
[06:57 am] scalpman : Out 1/2 MAKO S
[07:02 am] Mitch K: if you did consider covering most of FAST
[06:58 am] scalpman : Out another 1/4 MAKO S
[07:00 am] scalpman : All out MAKO S
[07:02 am] Mitch K: hope you shorted top of bounce in FAST,
[07:00 am] joeytsa : nice dump in the markets on tha #
[07:01 am] rusty : ss TLT into strength
[07:03 am] Mitch K: VRA bouncy soon, LULU not yet
[07:02 am] skydiver : covered 3/4 FIRE S 51.81 - 51.25
[07:03 am] Mitch K: GRPN bouncy
[07:03 am] skydiver : all out of FIRE S
[07:03 am] Mitch K: LULU and VRA two best charts for potential
[07:04 am] apple : nice sky
[07:04 am] joeytsa : watching CMI for a bottom
[07:03 am] Mitch K: consider selling UA long
[07:04 am] apple : gm rusty
[07:04 am] Mitch K: consider covering SXCI, CNX, WYNN, all
[07:04 am] skydiver : thnx apple :)
[07:04 am] joeytsa : nice trading sky
[07:04 am] Mitch K: consider covering VHC short
[07:04 am] skydiver : :)
[07:04 am] Mitch K: consider covering MOS
[07:06 am] skydiver : been playing FDX - didn't mention it as very
[07:06 am] Mitch K: Oil, crude oil spiking hard
little profit, but now it dropped nicely
[07:06 am] Mitch K: consider covering MLNX here
[07:06 am] apple : good one sky
[07:07 am] Mitch K: must have been a war scare
[07:07 am] skydiver : :)
[07:08 am] Mitch K: also watching to cover ROST
[07:07 am] joeytsa : sky: i used to use FDX as an indicator
[07:08 am] Mitch K: watching FDO closer for cover point on next
[07:07 am] skydiver : really joey? didn't know -
[07:08 am] joeytsa : if they were doing good, i took it as people
[07:08 am] Mitch K: fewer ideas today but working well for us,
doing a lot of buying
[07:08 am] skydiver : very logical - gotcha :)
[07:09 am] Mitch K: LULU should bottom fairly soon, no signal
[07:08 am] joeytsa : when they dropped, it signalled a slowdown
[07:09 am] joeytsa : probably still works, havent checked lately for
[07:09 am] Mitch K: if you havent sold OPEN try for 42 area,
already went above
[07:09 am] skydiver : will remember that and check it out joey :)
[07:09 am] Mitch K: looking fo runder $86 on SHPGY short to
[07:10 am] joeytsa : that was the lowest ISM # in 3yrs
[07:10 am] skydiver : no wonder the market went south so quick.
[07:10 am] Mitch K: LULU buy signal
Helped my shorts however
[07:10 am] Mitch K: watching BIDU for bottom
[07:10 am] joeytsa : ES down abot 10pts from the top
[07:11 am] Mitch K: starting to watch CSTR drop
[07:11 am] joeytsa : yeah and GS gave an early tell
[07:11 am] Mitch K: watching DVA for bottom to buy
[07:12 am] rusty : ISM Largest one month decline in orders since
[07:12 am] Mitch K: lol, well, except FAST
the month right after 9/11
[07:12 am] Mitch K: consider covering shorts
[07:13 am] skydiver : thnx rusty
[07:12 am] Mitch K: indexes trying to bounce
[07:13 am] joeytsa : construction was up, but overall thing dont look
[07:12 am] Mitch K: BIDU bouncy
great to me
[07:12 am] Mitch K: SINA bouncing
[07:14 am] joeytsa : should be a very interesting earnings season
[07:12 am] Mitch K: watching RVBD
[07:13 am] Mitch K: watching FFIV for bottom
[07:14 am] joeytsa : up
[07:17 am] Mitch K: same with SYK
[07:14 am] eyes : ED you get LQDT what was your entry
[07:17 am] Mitch K: LULU should start accelerating up more
[07:16 am] jsn13 : LULU bouncing...
[07:20 am] Mitch K: SPY turning over too
[07:19 am] khall : joey, I have a feeling the numbers won't be as
[07:20 am] Mitch K: consider reducing SYK
good as expected
[07:20 am] Mitch K: SYK toppy
[07:19 am] joeytsa : which ones?
[07:21 am] Mitch K: its the morning after big party on Friday,
[07:19 am] khall : earnings this next quarter
markets havent sustained past those big spike days
[07:20 am] joeytsa : agreed, or guided much lower
[07:22 am] Mitch K: monitoring TRIP for top
[07:20 am] joeytsa : they are looking for 101k jobs this week, we'll
[07:23 am] Mitch K: FFIV should get over 98, be flexible
[07:23 am] Mitch K: mkt trend up resuming
[07:21 am] khall : yes, we will
[07:24 am] Mitch K: watch VHC for 2nd helping short
[07:22 am] scalpman : OUt 1/2 LULU L
[07:24 am] Mitch K: consider selling PPO if long
[07:23 am] skydiver : SPY at vwap
[07:24 am] Mitch K: GRA bouncing, usually slow mover
[07:23 am] skydiver : CRM climbing nicely
[07:25 am] Mitch K: ESI dead, doa
[07:24 am] apple : joey, i heard 90k earlier
[07:25 am] Mitch K: consider selling most of DV long position
[07:26 am] scalpman : Out another 1/4 LULU L
[07:25 am] Mitch K: watching CNX, WYNN LVS, SXCI MOS for
[07:26 am] joeytsa : i see both apple
2nd short, same with POT
[07:26 am] joeytsa : thurs # is 101, fri # 92
[07:25 am] Mitch K: USG worth watching for short
[07:27 am] scalpman : All out LULU L
[07:29 am] Mitch K: good symbols today . . . LIFE can be a
[07:27 am] apple : ok thx
TRIP if you go LULU with POT and go down FAST
[07:28 am] joeytsa : believe they need 100k just to break even
[07:47 am] Mitch K: watching GNC
[07:28 am] apple : if there is such a thing
[07:58 am] Mitch K: watching VAR
[07:29 am] joeytsa : what..jobs?? :)
[08:34 am] Ed : SPY trading in tight range
[07:29 am] Ed : good one
[09:25 am] Ed : SPY trading at resistance
[07:29 am] qwert : hahaha
[09:28 am] Mitch K: watching WPI
[07:29 am] skydiver : nice one Mitch :)
[09:36 am] Ed : getting bounce in SPY
[07:29 am] apple : lol, yes and breakeven - when would that be...
[10:14 am] Mitch K: watching CHRW
[07:29 am] joeytsa : nice, Mitch is playing boggle again :)
[10:33 am] Mitch K: monitoring QIHU
[07:29 am] lisas : :)
[10:42 am] Mitch K: watching AEP
[07:30 am] apple : MK, you are on a rollllllllllllllllllllll
[10:53 am] Mitch K: consider reducing
[07:32 am] khall : ahhh, talk of closing the straight of Hormuz (sp?) -
[10:53 am] Mitch K: AEP toppy
thus the oil spike
[11:18 am] Ed : getting nice pop in SPY
[07:32 am] joeytsa : just listening to that
[11:40 am] Mitch K: watching SXCI again
[07:32 am] joeytsa : sanction yesterday?
[11:42 am] Mitch K: watching ACTG
[07:33 am] khall : didn't catch that one...
[11:51 am] Mitch K: SXCI getting toppy
[07:37 am] scalpman : Ed, BBY closed few cents above open for a
[12:10 pm] Ed : getting pullback in SPY
[12:49 pm] Ed : just watching action in SXCI/CHSI not much
[07:40 am] rusty : y[10:40] FSCO1: NYSE volume 160M shares,
about 7% below its three-month average; advancers lead decliners
[01:00 pm] Mitch K: good evening everyone
by 1.1:1. - NASDAQ volume 485M shares, about 25% above its
[01:00 pm] Ed : have a great evening traders
three-month average; decliners lead advancers by 1.1:1.
[07:41 am] scalpman : Was DUK a stock split or GAP down...?
[07:42 am] Ed : yes scalp bby nice one
[07:42 am] apple : thx rusty
[07:43 am] scalpman : Ed, it fits the pattern nicely.
[07:43 am] lisas : Hi Rusty! Glad to see you are back!
[07:43 am] Ed : it does
[07:43 am] aussie123 : thx rusty
[07:45 am] scalpman : LNCR earlier had 300,000+ shares, 41.26-
27...what might be happening there?
[07:46 am] Ed : think it is a buyout
[07:46 am] khall : yes, it's a buyout
[07:46 am] scalpman : ah...thanks
[07:47 am] rusty : 3.8B buyout, 41+/share
[07:47 am] rusty : has been rumored for a week
[07:47 am] scalpman : How come buy-outs are not called "sell-outs"
[07:48 am] rusty : scalpman = socrates
[07:48 am] skydiver : nice one rusty :0
[07:48 am] skydiver : :)
[07:48 am] eyes : Any thoughts on LQDT it looks to be cons
[07:49 am] rusty : LQDT supposedly a very negative piece by OWS
[07:50 am] eyes : I would say so it Droped 20%
[07:50 am] rusty : they supposedly have a 425 target....havent seen
the report myself
[07:50 am] rusty : $25
[07:51 am] skydiver : well - my time is up -- see all of you tomorrow
- 4 wins one loss today -- thnxs TSA and all the great traders
[07:51 am] scalpman : OUt 1/2 GANC S
[07:51 am] scalpman : GNC
[07:51 am] khall : bye sky
[07:51 am] scalpman : out another 1/4 GNC S
[07:52 am] Ed : see ya sky
[07:52 am] scalpman : bye sky
[07:52 am] qwert : watching bby
[07:52 am] scalpman : BEE-uty Mitch GNC
[07:53 am] jsn13 : Ed, did u take GNC short?
[07:54 am] scalpman : Stopped at 40.97 last piece
[07:54 am] scalpman : GNC
[07:54 am] Ed : yes
[07:54 am] apple : good job scalp
[07:54 am] jsn13 : may i know the entry time?
[07:55 am] scalpman : BBY for shot
[07:55 am] Ed : 10:48 with stop above hod
[07:55 am] scalpman : short
[07:56 am] scalpman : Thanks apple..
[07:56 am] jsn13 : ok after shooting star? not a powerful breakout
[07:56 am] scalpman : missed BBY will wait for small bounce
[07:57 am] rusty : TLT hod
[07:57 am] apple : thx rusty
[07:57 am] go4it : Have fun/safe 4th traders be back Thursday!
[07:57 am] scalpman : All out GNC hit my limit at vWAP..
[07:58 am] khall : have a good one go4it
[07:58 am] Ed : see ya bruce
[07:58 am] scalpman : Watching BBY for a bounce and lower
[08:02 am] jsn13 : QCOR
[08:03 am] eyes : That is something i have to learn I shorted BBY
and it just cons I should have got out
[08:04 am] eyes : whats a max amount of time to see if it works any
[08:05 am] scalpman : BBY ..maybe a lower low...
[08:05 am] scalpman : Anybody get BBY S
[08:05 am] eyes : LQDT moving
[08:06 am] scalpman : LQDT stocks at top...wait for pull back..
[08:06 am] scalpman : stochs
[08:07 am] scalpman : BBY holding...may still be in trend LONG
[08:10 am] scalpman : LQDT ..not fluid!
[08:12 am] eddy : no edge on LQDT it can go in any direction now
[08:15 am] eyes : NEM
[08:15 am] scalpman : LULU dropping more...looking for a bounce.
[08:15 am] rusty : QIHU negative analyst report out
[08:16 am] scalpman : Ed, two good trades from 10:11 and 10:47
EST...my later start still working...
[08:16 am] Ed : nice going scalp
[08:17 am] scalpman : Will watch for one more quality trade...eyes
on the stochs....
[08:17 am] apple : smart guy scalp
[08:18 am] scalpman : "EYES"...didn't you used to be "EYES-on
[08:18 am] eyes : Yes Scalp
[08:18 am] scalpman : Apple, thanks
[08:19 am] eyes : NEM Bounceing double bottom
[08:19 am] apple : he's been eyes on everything... he's got eyes...
[08:19 am] scalpman : I was thinking of changing my screen name
to "Scalpman on the Stochs"
[08:19 am] scalpman : (ha)
[08:19 am] apple : lol, scalp is perfect
[08:19 am] apple : nice move on VAR
[08:21 am] scalpman : LULU's back in town....moving up
[08:22 am] scalpman : (actually that's a song title from the 1920s)
"Lulu's Back in Town"....
[08:22 am] Ed : telling ur age scalp
[08:22 am] eyes : It should Be slow Learner
[08:23 am] scalpman : Nice move on LULU...I'm gabbin' when I
should be paying attention.
[08:24 am] scalpman : ok...back to business...
[08:25 am] rusty : If anyone is interested in QIHU report, em me at
[08:25 am] scalpman : FDO sell off..missed it.
[08:25 am] rusty : DLTR was dg by two analysts today
[08:25 am] rusty : fwiw
[08:28 am] eddy : wat is fwiw rusty?
[08:28 am] khall : thanks rusty
[08:29 am] apple : for waht it's worth, eddy
[08:29 am] apple : what
[08:29 am] eddy : ok
[08:31 am] eddy : LULU climbing well
[08:33 am] eddy : test
[08:34 am] Ed : i see ya eddy
[08:34 am] eddy : k
[08:36 am] rusty : PCYC radar based on daily....volume
[08:36 am] joeytsa : yeah Ed, since that drop, been in a 4-5 pt
[08:37 am] eyes : NEM No good
[08:37 am] rusty : anyone fade the AMPE gap today?
[08:37 am] rusty : nice candle
[08:39 am] scalpman : LULU S @ 57.59 stopp at .75
[08:40 am] scalpman : OUt 1/2 LULU S...
[08:41 am] scalpman : stop at b.e.
[08:42 am] eddy : nice scalpman
[08:42 am] scalpman : Thanks eddy...not a lot of money here but
signals looked good.
[08:43 am] scalpman : Let's see if it breaks down more...
[08:44 am] apple : MDVN moving out of consolidation
[08:44 am] scalpman : LULU could test the lod
[08:45 am] scalpman : support at .20
[08:47 am] scalpman : OUt another 1/4 @ .20
[08:48 am] rusty : DLTR lod
[08:49 am] scalpman : trailing down last stop...LULU S
[08:49 am] scalpman : and all out.
[08:50 am] scalpman : avg about 25c ...on LULU..
[08:51 am] eddy : LQDT
[08:51 am] qwert : BBY trying to hold 23 area
[08:51 am] apple : i love the V in VAR
[08:56 am] scalpman : Apple what was your entry?
[08:57 am] eyes : PHM any thoughts
[08:57 am] scalpman : Eyes...stochs are at the bottom.
[08:57 am] eyes : Res on Daily
[08:58 am] scalpman : ...and flatting
[08:58 am] scalpman : .hit 0 on over-sold...don't think I've seen that
[08:59 am] scalpman : PHM stochs turning up...maybe a bounce
[09:00 am] joeytsa : has res about 4-5cents above though
[09:02 am] joeytsa : LQDT trying to hold $39
[09:02 am] rusty : CIGX hod
[09:02 am] eyes : ci another one
[09:05 am] rusty : STZ hod, entering overbought territory on
daily...might be worth watching
[09:06 am] eyes : CI Bounceing
[09:07 am] eyes : Ok I am just looking at junk Break Time
[09:07 am] apple : been loking at STZ too rusty
[09:12 am] scalpman : Time to go, gentlemen....Great calls today by
Mitch...I was 3/3 no mistakes...a good way to start off the month...
[09:12 am] Ed : nice going scalp
[09:12 am] scalpman : Thanks Ed, and thanks Apple who always
has a supportive word!
[09:13 am] apple : have a great day scalp and keep up the good
[09:13 am] scalpman : See you all tomorrow...
[09:13 am] eddy : bye scalp
[09:14 am] scalpman : Bye eddy...PHM moved up....did you go
[09:14 am] scalpman : Scalpman has left the building!
[09:33 am] apple : nice drop on WPI
[09:44 am] eddy : off fot a 15mns legs stretching walk ...will be back
[09:44 am] joeytsa : smart plan eddy
[09:45 am] joeytsa : NFLX banging on this $68 level quite a bit
[09:45 am] apple : eddy - good idea, i am going to take a break too
[09:45 am] totora : hello ed plz open window
[09:47 am] apple : hello tortora, how are you
[09:49 am] Ed : hey totora
[09:50 am] lisas : first +1000 Tick for the day
[09:51 am] apple : thx lisa
[09:53 am] Ed : hey lisa how u all make out with tornados we had, 3
in 5 days
[09:54 am] apple : she was partying
[09:54 am] Ed : figures
[09:54 am] lisas : wow, we did ok, in fact very well considering it
was my niece's wedding and both the wedding and reception were
outside. Just a little hot is all
[09:54 am] apple : girls like to have fun
[09:54 am] joeytsa : glad you are all safe
[09:55 am] Ed : thx joey
[09:55 am] lisas : There were tornado watches during weddiing, but
it all stayed away. Did you get damage at your house Ed?
[09:55 am] Ed : closest damage was .5 miles away
[09:56 am] apple : wow, tg for both of you
[09:56 am] lisas : that's pretty close. We saw trees down around
area, never even lost power, unusual for our neighborhood
[09:57 am] Ed : each storm hit 1million without power
[09:58 am] apple : here, the electric co. ConEd is negotiating a new
contract... NJ was hit the other day
[09:58 am] khall : ugh - I feel for you guys
[09:59 am] joeytsa : sounds like you all need a vegas vacation :)
[09:59 am] Ed : sounds good
[09:59 am] apple : leave it to joey to suggest some fun
[09:59 am] lisas : 3 weeks!
[09:59 am] khall : remind us of the temps there?
[09:59 am] khall : hotter than hades? LOL
[09:59 am] lisas : hot and hotter, isn't that the temp everywhere?
[10:00 am] Ed : if u can deal with humidity u can deal with vegas
[10:00 am] joeytsa : lisa, are you coming here?
[10:00 am] eyes : I agree
[10:00 am] khall : we are catching a break today - only supposed to
[10:00 am] joeytsa : it will be 106 here today
[10:00 am] eyes : were do you live Khall
[10:01 am] lisas : we're having a cold spell, 83
[10:01 am] khall : Tulsa
[10:01 am] joeytsa : AMZN testing prev cl
[10:02 am] joeytsa : your power went out because Ed tried to hook
up 2 more monitors :)
[10:02 am] Ed : good one
[10:02 am] apple : lol joey
[10:02 am] lisas : joey, no, we're headed to the outerbanks
[10:03 am] joeytsa : ahh, thought you were coming here
[10:04 am] lisas : No, kids wouldn't come. We've been going to the
beach with extended family for 25 years. Up to 44 people now (in
one house, yikes!)
[10:04 am] khall : ha ha - sure you don't want to sneak off to
[10:04 am] lisas : We've tried going other places, but only the beach
[10:04 am] joeytsa : that doesnt sound like a vacation to me
[10:05 am] joeytsa : im trying to get away from family
[10:05 am] lisas : It doesn't does it, but it works for us, wouldn't miss
[10:05 am] khall : it sounds like that kind of chaotic fun - sort of like
me cooking Tgiving dinner for 25 ppl
[10:06 am] Ed : how long 1 week, or 2 weeks
[10:06 am] lisas : 1 week
[10:06 am] apple : sounds great lisa
[10:06 am] apple : 1 day, E
[10:06 am] apple : lol
[10:07 am] joeytsa : just watching VMW
[10:08 am] joeytsa : same with UNH
[10:08 am] eyes : UNH
[10:08 am] joeytsa : also watching the triple top on WPI
[10:09 am] apple : waiting for the drop...
[10:09 am] khall : joey - 4:1 companies saying they aren't going to
do as well as they thought they would
[10:10 am] joeytsa : for a long, either a breakout here or a higher
low on a pullback
[10:10 am] joeytsa : yeah, thats what i posted last week
[10:10 am] khall : must have missed that one..
[10:10 am] joeytsa : yeah posted it twice, it was actually 3.6:1 that i
[10:11 am] eyes : CNC
[10:12 am] sakii : Watching VHC
[10:14 am] sakii : chrw
[10:14 am] sakii : chrw
[10:14 am] sakii : oops wrong keyboard
[10:20 am] rusty : BBY defending themselves
[10:21 am] rusty : denying takeover rumor
[10:24 am] apple : thx rusty
[10:24 am] joeytsa : with that daily chart, they should want to be
taken over :)
[10:25 am] eyes : did anyone get CNC
[10:25 am] joeytsa : i didnt
[10:25 am] joeytsa : nice one though, hit res and fell 20cents
[10:25 am] eyes : I am S CHRW .94 ant suggestions
[10:26 am] joeytsa : yeah, dont lose your profits :)
[10:26 am] eyes : what profits
[10:28 am] joeytsa : sorry i was looking at CNC
[10:28 am] joeytsa : CHRW looks to have support @ $59, it was res
[10:30 am] Ed : did u have stop over hod, eyes, that case u would
[10:30 am] eyes : stoped out 59.17
[10:32 am] eyes : I had it .05 above
[10:33 am] eyes : qihu
[10:35 am] rusty : TLT comng to papa
[10:37 am] eyes : Ed was .o5 to much in your opnion
[10:38 am] Ed : overall it was fine
[10:51 am] rusty : F worth watching based on daily chart
[10:53 am] apple : thx rusty
[10:55 am] lisas : Taking off, bye all!
[10:56 am] Ed : c ya lisa
[10:57 am] apple : bye lisa, have fun, talk to you later
[11:00 am] rusty :