Daily Stock Report Tuesday Morning, July 10, 2012


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Daily Stock Report Tuesday Morning, July 10, 2012

  1. 1. Daily Stock Report Tuesday Morning, July 10, 2012 Announcement: The Trading Room is a LIVE real-time forum where you get excellent stock ideas for mostly intraday scalping trades where our goal is to make 1-3% profit per transaction. Go to www.TradeStocksAmerica.com and click on the Trading Room tab for instructions to receive a $1 trial for a week. Not only will you receive excellent stock trading ideas, mostly focused on intraday scalps, you will get commentary about the timing, trading action, and market behavior during the day and how it affects any stock ideas posted in the Trading Room. Plus, you will interact with other traders as well. It is highly recommended to study the trading strategies and chart setup before you use your actual hard earned money and practice in a virtual account for 30-90 days before in order to get a high winning rate while practice. This will dramatically increase your chances of being profitable from the beginning of using your own money. See you in the Trading Room!US stocks had a slight follow through on the downsideMonday after Friday’s big drop in response to the lower Summary Opinionthan forecast of nonfarm payrolls. The 80,000 jobs is what We are expecting the short positions will outperform the longs inwas created and just 4-6 months ago the US was creating through the summer with intermittent bull runs within theover 200,000 jobs per month. downtrend that started in April. Keep smaller than normal positions biased toward a net short position.The bickering among the politicians in the coming monthsof pre-election will get ugly and could help unsettle the Calendar (All Eastern times) Monday, 300pm, Consumer Credit, $9.5B.market as uncertainty could be perceived. This is going to Wednesday, 700am, MBA Mortgage Index, -6.7%get heated up here in the next 90 days. Wednesday, 830am, Trade Balance, -48.9B Wednesday, 1000am, Wholesale Inventories, 0.3% Wednesday, 1030am, Crude InventoriesChina is starting to play a bigger role in the market’s Wednesday 200pm, FOMC Minutesdirection as they are pushing to maintain growth as the last Thursday, 830am, Initial Claims, 375K7 months have been declining economic data. It is Thursday, 830am, Continuing Claims, 3300Kinteresting that the Chinese economic data is now being Thursday, 830am, Import-Export Prices Thursday, 200pm, Treasury Budgetintegrated with the western mainstream news almost as Friday, 830am, PPI, -0.6%much as our monthly unemployment report is watched Friday, 055am, Michigan Sentiment.closely. Follow-up notes: QCOR, Questcor Pharmaceutical. Cancel this. Report of upbeat multipleNote that Dr. Doom’s Roubini is saying the “perfect storm” sclerosis drug. ROST, Ross Stores. Consider selling Monday if long.for 2013 is developing now as he outlined some months ORLY, O’Reilly Auto Parts. If you are long this stock after the big haircutago as he cites four elements of stalling US growth, debt on their earnings warning, try to get higher prices. It is still trending upproblems in Europe, a slowdown in China and some sort of last 7 days. Sell on first drop but could keep moving up for a few days.military conflict in Iran. The fact that US politicians have not MNST, Monster Beverage is breaking down. Consider selling.addressed or negotiated a budget for USA or addressed the tax extensions scheduled to expire the end of 2012 is goingto add the most severe stress compared to anything Dr. Doom’s storm.I still expect the shorts to outperform the longs most of this next 2 months but keep smaller than normal size positions.Don’t try to be aggressive now.Most recent list of “Market worries”: 1. Greece bailout and possible exit; Greece complains they want Spain’s deal; Greece vote this weekend. 2. Spain bailout proposal being criticized as creating more problems in future; Spain asking IMF for money now. 3. Next news bomb: Italy likely going to need help but not in news lately 4. Germany is Europe’s financial leader; says they pay biggest percentage of bailouts; must be weighing options. 5. European recession very likely to start 6. Chinas softening of economy or hard landing? 7. US economic data choppy; jobs market weak. 8. US Presidential election, momentum shifting toward Romney = Bullish 9. 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 healthcare law. 1
  2. 2. 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) SXCI, SXC Health gave a short today with about a 5% short profit potential. 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: www.tradestocksamerica.com/trading-room-new.php Swing Trade Ideas: (Usually hold time is days) ANSS. Ansys. Consider small short. A, Agilent. Consider small short WLP, Wellpoint. Consider small long position. MRX, Medicis Pharmaceutical. Consider small long position. BK, The Bank of New York Mellon. Consider small long position. ECL, Ecolab. Consider small long position. RNF, Rentech Nitrogen. Monitoring for potential short next 1-3 days. CANCEL Intermediate Trade Ideas: (weeks to months) ADTN, Adtran. Consider small short. PMTC, Parametric. Consider small short. CSC, Computer Sciences. Consider small short. PXD, Pioneer Natural Resources. 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. CANCEL 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.Focus Chart: (Worden Telechart 2007-Download FREE on home page PPO, Polypore. Consider small long position.of www.TradeStocksAmerica.com.) EXR, Extra Space Storage. Consider small long position. NXTM, NxStage Medical. Consider small long position.WLP, Wellpoint. This is turning up now and looking or $66 area. Be LEAP, Leap Wireless. Consider small long position.flexible. LXK, Lexmark. Consider small long position. 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 investors. 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. 2
  3. 3. Stock List Type Notes Open Price Close PriceCMG,CMG Chipotle Mex LONG-INT Closed all long position at 405, 236% avg. profit 163.49 367.18MNST, Monster Bev. LONG-SWI Closed Thursday for 75% profit. 42.69 74.74MO,MO, Altria LONG-INT Up elevator. 31.82FNGN,FNGN Financial Eng SHORT-SWI profit. Covered Monday for slight profit. 20.50 20.30CHMT, Chemtra SHORT-SWI If doesn’t break down below $14 then cover. 14.82VCI, Volassis SHORT-SWI Likely to see drop if you are still short. 20.50 21.50SHFL, Shuffle Mast AGGSHORT Closed Thursday at breakeven. 14.25 14.25 NBL, Nobile Energy LONG-SWI Closed remaining long Friday for 10.7% profi avg 78.75HUM, Human Health LONG-SWI Sold long Thursday, -3%; consider covering 78.81 77.24TARO, Taro Pharm SHORT-SWI Closed short Thursday for 3% profit. 37.35 36.50CNK, Cinemark SHORT-SWI Stopped Wednesday for 3.6% loss 21.69 22.50RHT, Redhat SHORT-SWI Covered short Friday with 2.2% loss. 53.41 54.34SNI, Scripps Netw LONG-INT Approaching new highs 57.31SHW, Sherwin Will LONG-INT Approaching new highs 133.10WAG, Walgreens LONG-INT Monday Closed short Monday for 1% loss. 29.33 29.66HXL,HXL Hexcel SHORT-INT Covered Tuesday for breakeven. . 24.36 24.35IAG,IAG IamGold SHORT-INT mid Watching for mid 10’s. 11.89LAZ, LazardLAZ SHORT-SWI Covered Tuesday for 3.3% profit. 25.39 24.57IMAX,IMAX Imax SHORT-SWI Covered Friday for 6.6% loss; consider covering 22.72 24.25JAZZ, Jazz Pharma SHORT-SWI Covered Monday for breakeven. 45.25 45.25NSC,NSC Norfolk South SHORT-SWI Covered for 2.6% loss; consider covering. 69.25 71.25RBC, Regal-Beloit SHORT-SWI Covered Thursday for 3% profit. 61.48 59.77DY,DY Dycom SHORT-INT Stopped Friday for 8.2% loss 17.18 18.60QSII, Quality Systems SHORT-INT Re- Re-entered short Friday short 26.97 26.97RBS, Royal Bank SHORT-INT Covered Thursday for 15.5% profit. 7.43 6.44HNR,HNR Havest Natural AGGRESSIVE covering, Consider covering, taking too long to breakdown. 8.91TIF,TIF Tiffany SHORT-INT Downtrend firmly in place last 2 months 51.64LVLT, Level 3 Comm. SHORT-SWI Breaking down last few days, hold short. 21.65CLB,CLB Core Labs SHORT-INT Covered Friday for slight profit. 113.50 113FFIV, F5 SHORT-INT Covered Thursday for 4% loss. 96.63 100.18RHT, Redhat SHORT-INT Consider covering short Monday. 54.15 53.00SUPN,SUPN Supernus Phar BULLSHORT Volatile Monday, look for cover price below $11 11.00TLM, Talisman Enrgy LONG-INT Closed Thursday for 4% profit; consider selling. 11.54 11.90LXK,LXK Lexmark LONG-INT Looking for gradual uptrend. 26.47ICON, Iconix LONG-INT Looking for gradual uptrend. 17.60PEP,PEP Pepsico. LONG-INT Approaching high. 70.34HIG,HIG Hartford Life LONG-INT $16.50 area should hold, stop below 16.20 17.45GWRE, Guidewire SHORT-INT breakdown. Down another 5.6% Monday, should breakdown. 27.68WLT, Walter Energy SHORT- SHORT-SWI Small short position. 41.15PKI, Perkinelmer SHORT- SHORT-INT Small short position, need below $24.50 26.17PXD,PXD Pioneer Nat SHORT- SHORT-INT Small short position 85.79 3
  4. 4. WLP,WLP Wellpoint AGGRESSIVE position; Small long position; looking for $66 61.95BAS,BAS Basic Energy SHORT- SHORT-INT Small short position 10.07Here are some highlights of comments and stock ideas from the LIVE Trading Room. Try a $1 trial for 1 week using thislink: http://www.tradestocksamerica.com/trading-room.phpJuly 6, 2012 July 6, 2012TSA Moderator Chat User 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 the least[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 abovebottom 300[06:38 am] Mitch K: missed bottom in TDC but watching for [06:17 am] skydiver : crazy dojianother 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 laterbottom 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 Dojigive 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 : Its holding 30 right now[06:43 am] Mitch K: watching WAT for bottom to buy [06:23 am] doji : Ill 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 wallfor 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 $30[06:47 am] Mitch K: monitoring EQIX [06:28 am] eyes : Does Anyone here know how to show Premarket[06:48 am] Mitch K: watching LRCX closer on TS[06:48 am] Mitch K: monitoring EMC for bottom [06:28 am] joeytsa : i forgot how i did it..its in one of the videos[06:48 am] Mitch K: watching CTXS closer though[06:49 am] Mitch K: watching NIHD for bottom [06:28 am] doji : INFA is tanking[06:49 am] Mitch K: watching NFLX for a bottom to buy, should [06:29 am] Ed : click on icon at top that looks like clock, u can chagegive a good bounce if it keeps dropping, was real bullish intervalyesterday [06:29 am] lisas : yes eyes, go to icons at top[06:50 am] Mitch K: watching for top in XRTX [06:29 am] lisas : about the middle[06:51 am] Mitch K: watching QLIK for bottom to buy [06:29 am] cdougan : Next support 0$[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 4
  5. 5. [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 joeydropping.... still looking for small bounces. Charts like WAT, [06:32 am] joeytsa : ok good, doji had 27.10CTXS, 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 moveReagan 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 : INFA0.0025 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 -- coffee!!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 :)USA? [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 : GMCRone 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 INFArebound 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 :)bottom [06:42 am] joeytsa : braindead play :)[07:16 am] Mitch K: lower low on WLT [06:42 am] skydiver : Ill 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 connectedlike 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 reboot[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 NFLXmore, PLCM starting, starting to see stocks perk up calls![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 : hahahapotential 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 : NFLXarea [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 joeydeveloped 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 $226[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 7:30 PDT[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 movingan 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 !! kbprice chart when it is not recommended to trade. and an audio [07:00 am] joeytsa : :) 5
  6. 6. 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 $65hours trying to perfect it, make it faster, earlier, alerts toward the [07:01 am] doji : Noooo... misseed the breakout in GMCR...top better. [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 gotyasomething? 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 ATM stock[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 lowday 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 or lose? [07:10 am] khall : CRM looking like its 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 : canadas IVEY PMI was awful..came in at 49.0, with 55.4 forecast, 60.5 last [07:31 am] joeytsa : theres 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 dating yourself [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 6
  7. 7. [07:42 am] joeytsa : wonder how he will spin this job #[07:42 am] khall : I dont 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) -- Im not drinking the Netflix Kool-Aid.Are you?I dontbelieve this companys financial fortunes have yet brightened to apoint where this curious stock should soar 14% in Thursdaytrading.Do you?Im not buying what the stock market is selling -- thehype that Netflixs shares will keep going up. Netflix ChiefExecutive Reed Hastings delivered the news that Netflixs onlineviewing surpassed 1 billion hours for the first time in June, in acreative and ingenious way: He used social media. On Tuesday,after the market closed, Hastings took note of the milestone onFacebook . By bypassing the usual press release, he built a buzzusing social media, which may have made the news seemsexier.Kudos to you, Mr. Hastings.He looked brilliant when, onThursday, the financial markets buzzed with the sound and fury ofNetflixs 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 didnt want to be overly enthusiastic but Iwas Long INFA and then short...for $3100...lunch on me...one of mybiggest trades.[08:06 am] Ed : nice going scalp[08:06 am] scalpman : Thanks...trying to remain calm[08:07 am] khall : I wouldnt be calm - Id be too excited - GREATtrading scalp[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 INFAScalpman[08:08 am] go4it : WTG Scalp![08:08 am] scalpman : Yes..I hate to admit this..but I had 1000shares...and got so excited when trying to sell as it moved, thatbought 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 day7
  8. 8. 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... doesnt want to moveabove 20...[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 probeof 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 toearnings :)[08:36 am] doji : Thanks Joey... that willl be an interesting report tosee[08:37 am] joeytsa : yep..especially if there are any hints at "europroblems"[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 addsto it[08:39 am] doji : SUPN is a bullshort in the DSR. I has moved over12% today[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 revenueas expected but earnings may be compromised; they will howeverwarining 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 : Bye8
  9. 9. [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 thegreat calls.[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 downtrendingmarket[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? Itravel a lot so Id like to be back at home when its released; I don;twant 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 thenew added feature....[10:31 am] jsn13 : Ok no prob mitch....[10:31 am] doji : No problem Mitch but if you can just give us aheads up 2-3 weeks in advance, Ill extremely appreciatte it...[10:40 am] rusty : Mitch how come when I link up to your automatedtrading system (beta) am only making 50k/day instead of the usual100k[10:41 am] Ed : emotions??????[10:43 am] rusty : SUPN hod, low volume stock being played bymomo dayraders[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 TPX9
  10. 10. [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 monitorStands Costco.com has a awesome one[11:33 am] apple : he should be joey, just checked, hes logged in[11:33 am] apple : how is the cat doing[11:34 am] joeytsa : they are still checking the kidneys, thanks forasking[11:35 am] apple : poor baby[11:37 am] gregs : eyes, do you mean the visidec one[11:37 am] apple : theres greg joey[11:37 am] gregs : uh oh whatd i do[11:37 am] joeytsa : gregs: you asked me a question about gapsyesterday, 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 andyou said you scan on price change, not %[11:38 am] gregs : which i found interesting, but i suppose youreally just care about the number of shares X price change[11:39 am] joeytsa : good, just wanted to make sure that my answermade sense....[11:39 am] joeytsa : i look for price change first, but do need to seesome volume..dont want a stock thats only traded 2000 shares forexample[11:39 am] gregs : i think so... i played with INFA today and got alittle burnt... think im going to make a rule to play with <5%gappers[11:42 am] apple : sounds good greg[11:42 am] doji : The wider the gap the better,and if it consolidatesnear S/R, then you just need confirmation to play it[11:43 am] joeytsa : yeah gregs, you have to find whats comfortableto you[11:43 am] joeytsa : i also avoid takeovers/buyouts etc[11:44 am] joeytsa : best gaps are the ones that make no sense ( tofade )...[11:44 am] joeytsa : ie: stock has great earnings but getshammered overnight[11:45 am] gregs : hmm thats interesting[11:46 am] gregs : is that because the earnings were lower thanexpected?[11:46 am] joeytsa : drop on great earnings is usually do t profittaking...[11:46 am] joeytsa : most likely the daily chart would have been inan uptrend[11:47 am] gregs : doji, hod/lod works for me too, especially if thestock 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 chartinfluence 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 workon Monday...... dont take prisioners during the weekend[12:02 pm] rusty : Professional money managers are in theHamptons flirting with your daughter[12:03 pm] gregs : haha10
  11. 11. [12:04 pm] doji : Easy Rustoleum...[12:05 pm] doji : /ZC down 2.26% Mitch[12:06 pm] doji : basically loosing all yesterdays gains... that is oncorn futures[12:06 pm] gregs : so, is it crazy to attempt entries on RBC if theybreak 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, sowondering if this makes sense[12:07 pm] gregs : not having as much luck entering on pullbacks[12:09 pm] joeytsa : not sure on that greg[12:09 pm] doji : LEN hod[12:13 pm] eyes : Well I am Done Have a awesome weekend -209for the day[12:13 pm] apple : thx MK, E and everyone. all have a wonderfulweekend.[12:13 pm] apple : bye eyes[12:13 pm] Ed : c ya eyes and apple[12:13 pm] joeytsa : bye eyes, apple[12:13 pm] doji : Bye Apple[12:14 pm] doji : Hey Ed, how do you trade a stock like RBC thathad 15c to 24c spread?[12:16 pm] Ed : always use limit, when I went short spread was only.07[12:16 pm] Ed : lot time spread changes u can wait for spread totighten which happens also[12:17 pm] Ed : when I say change I meant it can go frome widespread to tight[12:17 pm] doji : I saw the spread tigtening but the price wasalready 64.13[12:17 pm] doji : and with 64.0 round number only 13c below, I stepaside[12:18 pm] Ed : in that case just pass,[12:18 pm] doji : 63 sorry[12:18 pm] doji : What was your entry?[12:18 pm] Ed : 64.23[12:18 pm] doji : At 64.13, the spread was still 8c[12:18 pm] doji : so your spread was 10c/12c?[12:19 pm] Ed : to be honest did not look at it at that time[12:19 pm] doji : I always look at the spread to see how wide I haveto place my stop[12:21 pm] Ed : when I use to pay attention to spread it influencedmy trades, so I stopped. just what works 4me[12:22 pm] doji : Thanks.... I step aside on >5c spreads and thinvolume...[12:23 pm] rusty : BBY 600 Geeks being layed off[12:23 pm] joeytsa : plus 1800 others?[12:23 pm] rusty : yes[12:23 pm] rusty : non Geeks[12:24 pm] joeytsa : just more of the same[12:24 pm] Ed : great point doji, as long as ur sticking to ur tradingplan, which is key[12:24 pm] joeytsa : people are using these places as demostores..then buying online[12:25 pm] Ed : now if spread get ridicuolous like on BVSN whenspread was 1.25 I pass also[12:25 pm] joeytsa : thats when you cut that spread :)[12:25 pm] Ed : lol[12:25 pm] joeytsa : need to get back into that[12:26 pm] Ed : literally[12:26 pm] joeytsa : its the only thing i missfrom the "fractions" days[12:27 pm] gregs : nice ed[12:27 pm] Ed : thx[12:30 pm] joeytsa : doji: along withweak earnings/globalecon..german services sector is now in contraction[12:30 pm] joeytsa : same as our ISM #[12:30 pm] doji : If the best economy in EU is in contraction, you11
  12. 12. figure out the rest.... [12:31 pm] joeytsa : already have haha [12:34 pm] rusty : George Zimmerman released on 1M bail [12:34 pm] doji : Watching LEN [12:38 pm] doji : TFM 4c drop [12:38 pm] doji : 40c [12:40 pm] rusty : WLT new recent lows [12:41 pm] rusty : Gilbert Gottfried Picking Stocks CNBC [12:43 pm] rusty : SYNC hod [12:54 pm] doji : See ya fellas next week [12:54 pm] Ed : c ya doji [12:54 pm] gregs : have a good weekend doji [12:54 pm] joeytsa : bye doji [12:54 pm] rusty : cya doji [12:54 pm] rusty : have a good weekend all [12:55 pm] Ed : c ya rusty [12:55 pm] joeytsa : bye rusty [12:55 pm] joeytsa : Thanks Mitch,Ed everyone...have a great weekend, see you all on monday [12:55 pm] Ed : c ya joey [12:56 pm] gregs : thanks for the calls mitchSWI (SWING): 2-7 days INT: Intermediate term position 8 days to several months. Open Price: price paid on openinglong position or price sold on short position. Bold notes on table above represent changes from previous day.Current positions are highlighted in yellow. Green colored lines are next probable positions to consider. Red, take actionor watch closely, no color usually were stocks just finished trading or are watching. Realize that opinions about stockideas can be changed at a moment’s notice during any trading day without any warning!IMPORTANT: The notes in this stock list is how I have been writing notes to myself about stocks for 17 years. They are generalguidelines as to how I am approaching a particular stock and conditions may change during the next trading day that ay cause achange in opinion before the next evening report is written.Remember not to get too heavy in one sector and gradually move in because it is unrealistic to think we get the exact bottom. We wantto gradually move into this sector and eventually build full size long positions in them that may be swing trades lasting for days orintermediate trades lasting weeks.If you spend too much money too quickly, you will run out of ammunition, then get emotionally stressed when stocks are going againstyou. If you get too leveraged you may be forced to sell at a loss because you are racking up losses at twice as fast if you are margined2 to 1and then miss the big move up we are looking for in oil and gas stocks.Advice: Don’t get leveraged in any one position long or short. Spread your money out between a variety of stocks and the higheramount of money you are working with, the smaller percentage of money you can afford to trade in one stock position. The mainreasons why people fail to make money in stocks consistently (according to Mitch King): 1. They are too emotional, controlled by greed and fear. 2. Not using a high probability technique to buy and sell (or no technique at all!) 3. Position size is too big in one stock relative to total account value (which is related to #1 above).Not patient or willing to spend enough time to learn a good trading technique. 4. Expectations are unrealistic to make large amounts of money in a short time period and at the same time violating #1, 2, 3 or 4 above.Thoughts: Best odds only, be decisive, aggressive, mentally flexible, stay in position size, don’t overtrade and wait a little longer to buyand wait a little longer to sell. You will find that will make you more money on your trades. Trade what you see, not what you hope for.Intermediate and swing trades are really important to have trailing stop losses set.Don’t trade unless the setup is there for you, then use the charts to tell you when the odds are heavily in your favor. Don’t forceanything to work for you, let the setups develop and then take advantage of that. Be patient. Stay in position sizes without letting anyintraday trade represent no more than 10-15% of your total account value. As you build your account, your position size percentageshould get smaller and smaller to lower your risk.Stop losses: Many people ask about stop losses on intraday trading and my response is that the stops should be wider because theyare stops “just in case” a disaster news event hits the stock. When you follow the technical indicators as I show you on the intradayscalping tutorials, rarely will a stop loss be hit. The indicators can be used with uncanny accuracy as a forecasting tool so don’t setyour stop losses on the intraday scalping too tight.Anyone setting tight stops while scalping will consistently lose money on scalping because stocks move around a lot even though theyfollow the technical indicators.Stop losses on swing and intermediate term trades can be sent anywhere from 5-7-10% and trailing stop losses are best. 12
  13. 13. More thoughts: Keep steady, calm, decisive, aggressive. Have no fear and no greed. Keep looking at what to be doing next in a calmmanner. Don’t focus on the past or beat yourself up what you did or didn’t do or what you should have done. Just keep playing thenext shot, which in this business your next shot could be just sitting on the sideline.If you have been uncomfortable shorting stocks, which most people are, try to learn this technique, it will be a useful tool in the comingyears.When several stocks from the same sector are listed, like from the housing industry or steel industry for example, don’t short all of themunless you are well diversified and it represents a small percentage of your total stock account (in that same account).Also note that we are in what Martin Pring, PhD explains in his book The All-Season Investor, the business cycles and which one isgood for various financial investments. He would describe that we are in Stage II of the business cycle which is positive for bonds andstocks but negative for commodities. Sometime in late 2011, we probably approach Stage 3 business cycle with rising inflation andinterest rates, which are usually bad for stocks and bonds.A couple of technical analysis books you should consider:Technical Analysis Explained, Martin Pring.Technical Analysis from A to Z, AchelisTechnical Analysis for the Financial Markets, John Murphy.Put the odds in your favor and have a great day!Mitch King and staffTradeStocksAmerica.com.Contents: online stock trading, trading strategies, stock picks, stock market education, stock market investing course, educational stocktrading videos, stock trading newsletter, stock market newsletter,Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest toits accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readersare urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports maychange without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stockscited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at thetime of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice.Disclaimer - Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as theopportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report,The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing toaccept the risks when investing or trading in any financial markets. Dont trade with money you cant afford to lose. This website isneither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profitsor losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarilyindicative of future results. 13