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Every day Stock Report Friday Morning, June 22, 2012

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  • 1. Daily Stock Report Friday Morning, June 22, 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 took a sharp decline today after hearing duringmarket trading that a rating organization was going to Summary Opinion The short positions are likely to outperform the longs over thedowngrade 15 major investment banks after the market coming two weeks. Consider some of the shorts on the listtoday [Thursday]. We also saw the Fed did not announce below, keep positions small. They may last for a couple ofany plans for further easing on yesterday’s announcement. weeks.The banks that were downgraded lost 1-2 levels of ratingsbut were up after market because the selloff was overdoneduring regular market hours. Normally this type of selling Calendar (All Eastern times) Monday, 1000am, NAHB Housing Index, 28marks the top for some weeks to come and stocks tend to Tuesday, 830am, Housing Starts, 719Kwork in a downward trend after having this much of a drop Tuesday, 830am, Building Permits, 725kand this type of news. About 77% of stocks declined today Wednesday, 7:00am, MBA Mortgage Index, 18% Wednesday, 1030am, Crude Oil Inventories, -0.111Mwith indexes down 2 to 2.45%. Wednesday, 1230pm, FOMC Rate Decision, 0.25% Thursday, 8:30am, Initial Claims, 380,000The jobless claims fell slight but the four week average rose Thursday, 830am, Continuing Unemployment Claims, 3.278Kto a 2012 high; the Purchase Managers Index showed Thursday, 1000am, Existing Home sales, 4.56M Thursday, 1000am, Philadelphia Fed, -0.2manufacturing grew at its slowest pace in 11 months as Thursday, 1000am, Leading Indicators, 0.0%hiring slowed and demand dropped. We also saw home Thursday, 1000am, FHFA Housing Price Index, 1.8%sales fell in May as prices rose which puts a question mark Follow-up notes:over the real estate rebound. IDCC, Interdigital. If still short, consider holding short for lower prices the next few days.Goldman Sachs said today that growth is likely to be veryweak for the remainder of the year. There just isn’t a lot of good news events that could drive the market up except for achange to a Republican president, which has been historically a bullish event for the market.The short positions are likely to outperform the longs over the coming two weeks.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. 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 8. US Presidential election, momentum shifting toward Romney = Bullish 9. Apathy in retail investors 10. US Housing recovery not strong yet 11. Brazil economy stalling 12. Facebook IPO bombed out and rated as “sell.” High price was over $43 and went below $27 Thursday. 13. JP Morgan loss of $2-3 billion creating mistrust in Wall Street. 14. Money is flowing into US dollar, US Treasuries and German government securities. 15. US economic policy not repairing economy. 16. Current US president not strong leader; creating more debt 17. India economy sharply pulling back now; just starting to hit news. 18. No serious discussion on US budget among politicians; Bernanke warns this as biggest fiscal cliff. 19. French President Hollande leaning heavily to the left toward spending and increasing taxes; not working well with Germany’s Merkel. 20. Healthcare costs and tax structure for US companies unclear. 1
  • 2. Scalp of the day from Trading Room: (all eastern times) There were many smaller trades but overall was a strong downtrend today. 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) JAZZ, Jazz Pharmaceuticals. Consider small short position. IMAX, Imax corp. Consider small short position. LAZ, Lazard. Consider small short position. NBL, Noble Energy. Consider small long position. HUM, Humana. Starting to monitor HUM for potential long position. BCS, Barclays Bank. Consider small short next 1-3 days. Wait for rebound in market to top before many shorts: CTB, Cooper Tire & Rubber. Consider small short (hold time days). RYN, Rayonier. Consider small short. LVLT, Level 3 Communications. Consider small short position next 1-3 days. LOGI, Logitech. Consider small short position. RDC, Rowan Cos. Consider small short position. BEAV, BE Aerospace. Consider small short position next 1- days. LVS, Las Vegas Sands. Consider small short. RBC, Regal-Beloit. Watching for potential short next 1-3 days. SLF, Sun Life. Consider small short (only a few days hold time). PANL, Universal Display. Consider small short (only a few days hold time). CHMT, Chemtra, Consider small short position. HGG, HHGregg. Consider small short position. FNGN, Financial Engines. Consider small short position. VCI, Valassis Communications. Watching for short entry. IDCC, Interdigital. Consider small short. Intermediate Trade Ideas: (weeks to months)Focus Chart: (Worden Telechart 2007-Download FREE on home page HXL, Hexcel. Consider small short position.of www.TradeStocksAmerica.com.) IAG, Iamgold. Consider small short position.SHFL, Shuffle Master. Today’s drop of 2.63% was an SNI, Scripps Networks. Consider small long position $54-55 area.important “marker” for further selling. We are looking for this SHW, Sherwin Williams, consider small long below $125.short to hit the low $12’s; be flexible. COP, ConocoPhillips. Consider small long position. ORLY, O’Reilly Auto Parts. Consider small long position. BK, Bank of New York Mellon. Consider small long position RMD, Resmed Health. Consider small long position. WAG, Walgreen. Consider small long position. ROST, Ross Stores. Consider small long position next 1-2 days. Wait for rebound in market to top before many shorts: RBS, Royal Bank of Scottland. Consider small short. COF, Capital One. Consider small short position. FFIV F5 Networks. Consider small short position. CNK, Cinemark. Consider small short position. VAR, Varian Medical. Consider small short. LO, Lorillard Group, Consider small short. SODA, SodaStream Intl. Consider small short position. RHT, Redhat. Consider small short position. SFD, Smithfield Foods. Consider small short position. Aggressive Investors-Traders (Higher risk, higher reward) BBVA, Banco Bilbao. Consider small short; may last 2-3 months. 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. 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 Continues marching up in strong uptrend. 42.69 53.35DLTR,DLTR Dollar Tree LONG-SWI Sold Friday for 5% profit. 97.50 102.35IDCC, Interdigital SHORT-SWI Stopped Monday for 12.5% profit. 27.31 24.25MO, Altria LONG-INT Higher high on Monday. 31.82FNGN,FNGN Financial Eng SHORT-SWI Re- Re-entered short Thursday 20.50SFD, Smithfield SHORT-INT Covered short Friday for 5.4% profit. 19.40 18.48HGG, HH Gregg SHORT-SWI Covered short Friday for breakeven. 10.30 10.25STLD, Steel Dynamic SHORT-INT Stopped Wednesday for 6% loss. 10.41 11.00VRSK, Verisk Analyt SHORT-INT Covered short Friday with 4 % loss. 46.51 48.34WBC, Wabco Hldgs SHORT-INT loss. Stopped Tuesday for 5% loss. 50.64 53.00SLF, Sunlife SHORT-SWI Covered short Friday with slight loss. 21.30 21.42AFL,AFL Aflac SHORT-SWI Covered short Friday with 1.5% loss. 41.20 41.86PANL, Univ. Display SHORT-SWI Stopped Tuesday for breakeven. 31.03 31.03ROST,ROST Ross Stores SHORT-SWI Closed Thursday for 2.9% profit; re-enter lower re- 61.80 64.50UGP, Ultrapar Paricipa SHORT-SWI Stopped Tuesday for 4% loss. 20.70 21.55LVLT,LVLT Level 3 SHORT-SWI Covered short Friday for breakeven. 21.55 21.55LOGI, LogitechLOGI SHORT-SWI Covered short Friday for breakeven. 10.32 10.24RDC, Rowan Cos. SHORT-SWI Small short position. Hold time 2-3 more days. 31.68RBC, Regal-Beloit SHORT-SWI Covered Friday for breakeven. 61.24 61.24CHMT, Chemtra SHORT-SWI Expecting to resume downtrend. 14.82 14.31VCI, Volassis SHORT-SWI Re- Re-entered short THursday 20.50RRC,RRC Range Resourc SHORT-SWI Covered Thursday for 4% profit; consider covering 57.33 55.10ADSK, Autodesk SHORT-SWI Covered Thursday for 5.1% profit; cover Friday 33.18 31.55SHFL, Shuffle Mast AGGSHORT Looking for low $12’s to cover 14.25CENX, Century Alum LONG-SWI Covered short Friday for breakeven. 7.09 7.10NBL, Nobile Energy LONG-SWI Small long position. 83.88HLX, Helix Energy LONG-SWI Closed Wednesday for 2% loss. 15.77 15.43HUM, Human Health LONG-SWI Small long position. 78.81TARO, Taro Pharm SHORT-SWI Small short position; should resume downtrend 37.35RYN, Rayonier SHORT-SWI Covered short Friday with slight loss. 43.02 43.20CNK, Cinemark SHORT-SWI Downtrend continuing. 21.69 21.69FFIV, F5 Network SHORT-SWI Covered short Friday for breakeven. 101.43 101.17VAR, Varian SHORT-SWI Covered short Friday for breakeven. 59.53 59.68SODA, Sodastream SHORT-SWI Closed Wednesday for 1% loss. 34.79 35.10RHT, Redhat SHORT-SWI Covered short Friday with 2.2% loss. 53.41 54.34BEAV, BE Aerospace SHORT-SWI Small short position. 43.42SNI, Scripps Netw LONG- LONG-INT Small long position. 57.31SHW, Sherwin Will LONG- LONG-INT Small long position. 133.10COP,COP ConocoPhillips LONG- LONG-INT Thursday Stopped Thursday for 5% loss 55.50 52.72ORLY, O’Reilly Auto LONG- LONG-INT Small long position. 101.75 3
  • 4. BK,BK Bank NY LONG- LONG-INT Consider selling Friday. 21.09RMD,RMD Resmed Health LONG- LONG-INT Consider selling Friday. 31.96PXP,PXP Plains Explorat SHORT- SHORT-INT Small short position. 34.69APC, Anadarko Petro SHORT- SHORT-INT Small short position. 64.52FTI,FTI FMC Technology SHORT- SHORT-INT Small short position. 41.07BCS, Barclays Bank SHORT- SHORT-SWI Small short position. 12.93OKE,OKE Oneok SHORT- SHORT-SWI Small short position. 43.53ASIA,ASIA Asiainfo SHORT- SHORT-SWI ORT Small short position. 11.94Here 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.phpJune 21, 2012 June 21, 2012TSA Moderator Chat TSA User Chat[07:17 am] Mitch K: looking for 10.70 area on NIHD, be [06:05 am] mikewd2 -: good morning tradersflex, hard to tell how far of bounce on this [06:07 am] eddy : hello all[06:52 am] Mitch K: looking for 8.80 area to cover KEG, [06:11 am] lisas : gm allbe flexible [06:14 am] mikewd2 -: hugh gap up on ONXX, didnt we just[11:56 am] Ed : holding last 1/4 short GCI will trail stop short it a couple days ago.[11:56 am] Ed : covering 1/4 GCIshort [06:15 am] qwert : Good morning everybody[06:27 am] Mitch K: hi ladies [06:15 am] joeytsa : ONXX had fda-type news[06:27 am] Ed : good morning Traders [06:15 am] qwert : yeah mike onxx good short[06:32 am] Mitch K: watching PENN for short [06:15 am] qwert : couple days ago[06:33 am] Mitch K: watching SODA for top to short [06:16 am] joeytsa : CELG,RHT gapping down[06:33 am] Mitch K: soon [06:16 am] qwert : joey hoew was tony and the hotties :)[06:33 am] Mitch K: watching RHT for top to short [06:16 am] joeytsa : same with BBBY[06:33 am] Mitch K: watching COST for top to short [06:16 am] joeytsa : that starts today for me qwert[06:33 am] Mitch K: watching BBBY for bottom, , trying [06:16 am] qwert : oh okay, hahabelow 63 [06:17 am] mikewd2 -: enjoy joey[06:34 am] Mitch K: watching PVH for top to short [06:17 am] joeytsa : i will, just watching first 30minutes here[06:35 am] Mitch K: watching SWKS for bottom to buy [06:18 am] joeytsa : mike: there is a way to get red/green on[06:35 am] Mitch K: watching DCI for bottom the volumne bars..just havent figured it out yet[06:35 am] Mitch K: watching ECA for bottom to buy [06:21 am] lisas : joey, on TS?[06:36 am] Mitch K: watching KEG for top to short, top of [06:21 am] joeytsa : yeah listhis bounce, dont forget this [06:21 am] joeytsa : lisa[06:36 am] Mitch K: monitoring CIG [06:22 am] joeytsa : just started tinkering[06:37 am] Mitch K: watching ZNGA for top to short [06:22 am] lisas : Hi Joey, use the Volume Ave indicator,[06:37 am] Mitch K: watching KORS for top to short then when you format it, go to inputs, allows you to pick up[06:37 am] Mitch K: watching WSM for top to short and down color[06:38 am] Mitch K: watching SYNC, ALR for bottom [06:22 am] joeytsa : ahhh, thanks[06:38 am] Mitch K: watching UA for bottom to buy [06:23 am] joeytsa : i like how your charts look[06:38 am] Mitch K: watching FB for short [06:23 am] joeytsa : can the pivots or ohlc be formatted?[06:39 am] Mitch K: watching NIHD for bottom to buy [06:23 am] joeytsa : when enabled they seem to scrunch my[06:39 am] Mitch K: watching HAL for bottom candles[06:40 am] Mitch K: watching VMWQ for bottom to buy [06:24 am] lisas : joey, right click on chart, format symbol,[06:40 am] Mitch K: watching ANR for botttom scaling, uncheck expand range to include analysis techniques[06:41 am] Mitch K: watching NIHD for bottom to buy [06:25 am] lisas : That should stop the scrunching, Its trying[06:41 am] Mitch K: that was VMW to fit your indicators onto chart[06:42 am] Mitch K: watching ABT for bottom [06:25 am] mikewd2 -: nice, ty lisas[06:42 am] Mitch K: monitoring OII drop [06:25 am] joeytsa : right, thank you so much..was driving[06:43 am] Mitch K: watching SPN for bottom to buy me crazy haha 4
  • 5. [06:43 am] Ed : wathcing DCI for potetnial bottom to buy [06:26 am] mikewd2 -: thats it joey, nice[06:44 am] Mitch K: watching APOL for bottom to buy [06:26 am] joeytsa : i will do those changes in a bit..hope you[06:44 am] Mitch K: monitoring AKS drop all make some good money today[06:44 am] Mitch K: watching FFIV for bottom to buy [06:27 am] skydiver : gm Mitch, Ed, and all[06:44 am] Mitch K: watching RGR for bottom [06:30 am] joeytsa : BBBY diving[06:45 am] Mitch K: watching LECO for bottom to buy [06:31 am] joeytsa : CELG fighting at $60[06:45 am] Mitch K: watching CRK for bottom [06:33 am] eddy : EGLE[06:45 am] Mitch K: watching NKE for short soon [06:34 am] joeytsa : trail CELG if short[06:46 am] Mitch K: watching VRX closer for bottom [06:35 am] joeytsa : coming into $59[06:46 am] Mitch K: watching VRX for bottom to buy [06:36 am] mikewd2 -: BBBY nce[06:47 am] Mitch K: watching MTW for bottom [06:37 am] joeytsa : yeah mike[06:47 am] Mitch K: watching SU fo rbottom to buy [06:38 am] mikewd2 -: CELG gave up59[06:47 am] Mitch K: watching ROSG for bottom; use limit [06:39 am] mikewd2 -: Cramer looking for turn in oilorders only [06:44 am] mikewd2 -: DCI nice 3 min fade setting up[06:47 am] Mitch K: dont forget about VRX [06:47 am] mikewd2 -: CELG moving[06:47 am] Mitch K: watching ZAGG for top to short [06:58 am] skydiver : JOY - take over chatter[06:48 am] Mitch K: RHT toppy, use limit order [07:00 am] skydiver : all out of JOY L[06:49 am] Mitch K: watching SIG for bottom to buy [07:00 am] skydiver : S JOY 56.68[06:50 am] Mitch K: consider covering PENN, most of it [07:00 am] mikewd2 -: UVXYmoving up[06:51 am] Mitch K: consider covering PVH, try 80.50 [07:00 am] skydiver : all out of JOY S 56.54area [07:05 am] skydiver : I was in JOY L before the buy out[06:51 am] Mitch K: watchign CAG for top to short right rumor - got out then shorted - but . . . got a bit excited and gothere out early - control emotions!![06:52 am] Mitch K: watching MUR for bottom [07:07 am] mikewd2 -: M L 35.95[06:52 am] Mitch K: watching FFIV closer for bottom [07:07 am] jsn13 : Nice move on VRX, long at 45.87, out 1/2[06:53 am] Mitch K: watching MAIN for top to short, soon at 46.30, 1/4 at 46.69, last 1/4 at 47...thanks mitch....[06:53 am] Mitch K: watching LF for top to short [07:07 am] qwert : VRX nice thx mk[06:54 am] Mitch K: watching M for bottom [07:07 am] skydiver : nice joey[06:55 am] Mitch K: sorry [07:07 am] skydiver : LNKD still dropping[06:55 am] Mitch K: szym [07:08 am] skydiver : out 3/4 VRX L[06:55 am] Mitch K: start watching CERN drop [07:09 am] qwert : nice sky[06:55 am] Mitch K: FB pattern has been to sell off on [07:09 am] skydiver : thnx to Mitch - thnx qwertspikes, looking for 32 area, be flexible [07:10 am] skydiver : DCI is a dog[06:56 am] Mitch K: watching LNKD for bottom [07:10 am] skydiver : my cat gets nervous when I type dog :)[06:56 am] Mitch K: watching VRX closer [07:11 am] jsn13 : wow vrx still holding trendline support....[06:56 am] Mitch K: passing on SZYM [07:11 am] skydiver : moving stop up on final 1/4 of VRX L[06:58 am] Mitch K: HAL bouncy [07:12 am] skydiver : all out of DCI L -- be[06:58 am] Mitch K: watching TIF for bottom [07:13 am] mikewd2 -: im still in DCI L, but moving up stop to[07:00 am] Ed : SPY new lod b/e[07:01 am] Mitch K: VRX bounce starting [07:13 am] qwert : hahaha yes mk[07:02 am] Mitch K: consider selling VMW [07:13 am] Ed : turns into winer or winner[07:04 am] Mitch K: light sweet crude under $80 [07:13 am] qwert : lol[07:05 am] Mitch K: consider covering NKE short [07:14 am] skydiver : I got impatient with DCI mike - but[07:07 am] Mitch K: VRX still strong watch it go up soon :)[07:08 am] Mitch K: ROSG bouncing [07:14 am] mikewd2 -: it will take off?[07:09 am] Mitch K: consider selling VRX on this helping [07:14 am] Ed : :)of long [07:15 am] skydiver : all out of VRX L[07:09 am] Mitch K: sell signal on VRX [07:20 am] mikewd2 -: scary stock Mitch re: FB[07:09 am] Mitch K: looking for little lower price on PCYC [07:30 am] mikewd2 -: nat gas inventory smaller thanshort expected[07:11 am] Mitch K: consider covering ZAGG short [07:31 am] mikewd2 -: SWN movig[07:11 am] Mitch K: VRX too strong to short on top of [07:36 am] mikewd2 -: DNDN movingbounce, best to look for 2nd helpings or repeats [07:42 am] skydiver : SODA dropped - had no shares to[07:12 am] Mitch K: M bouncing short at Lightspeed[07:12 am] Mitch K: consider covering KORS, try 42.75 [07:45 am] skydiver : Well - need to get to office earlier todayarea, be flexible -- might jump on later at the office. Have a great day all :)[07:13 am] Mitch K: but you know what usually happens [07:45 am] Ed : c ya skyright? [07:45 am] qwert : cya sky[07:13 am] Mitch K: MAIN short too slow for me [07:46 am] cdougan : later sky[07:13 am] Mitch K: FFIV bouncing [07:49 am] mikewd2 -: out SWN L +0.35 5
  • 6. [07:14 am] Mitch K: anyone Long in TIF? should keep [07:50 am] scalpman : OUt 1/2 CNC Smoving up [07:51 am] scalpman : bye SKY[07:14 am] Mitch K: consider covering most of WSM [07:52 am] mikewd2 -: LVS moing also[07:14 am] Mitch K: well i am whining for sure Ed [07:53 am] mikewd2 -: got out SWN a bit early[07:15 am] Mitch K: i havent been forgetting to post many [08:03 am] akram : fdxstocks but spaced on ANN short [08:04 am] scalpman : Out 3/4 SWN D[07:16 am] Mitch K: VRX might be worth smaller short, [08:04 am] scalpman : Sstart smal [08:04 am] jsn13 : Mike, where did u enter SWN? long or[07:16 am] Mitch K: watching A for bottom short?[07:17 am] Mitch K: SPY bouncing [08:05 am] scalpman : Thanks mike ...been watching[07:17 am] Mitch K: you know what, forget VRX short, [08:07 am] scalpman : All out SWN Scancel [08:10 am] scalpman : I missed a big 2nd leg on CNC[07:17 am] Mitch K: and stay on top of that , dont get S...stopp on 2nd piece too tight...distracted [08:11 am] qwert : wow just looked same here scalp[07:19 am] Mitch K: you guys cover FB? it came all the [08:13 am] scalpman : SPY should retrace but there is lots ofway back down to starting point, very typical for FB room down on the daily[07:23 am] Mitch K: watching HP for bottom [08:14 am] scalpman : retrace failed on SPY...[07:24 am] Mitch K: watching HES for bottom [08:14 am] jsn13 : CERN[07:24 am] Mitch K: watching BWA for bottom [08:34 am] scalpman : QQwert...that is always the[07:24 am] Mitch K: watching TS for bottom issue...whether to stop just in the GREEN at b.e. or to risk[07:35 am] Ed : bounce in SPY your profits with a stop at the new high....[07:41 am] Mitch K: watching CNC [08:35 am] victor51 : Thanks Mitch and Ed, Great live trades;[07:51 am] Mitch K: watching WYNN 3/3 shorts and 4/6 long. Took both WYNN and LVS short.[07:57 am] Mitch K: WYNN getting a little toppy [08:35 am] Ed : nice going victor on live[08:04 am] Ed : SPY new lod [08:35 am] scalpman : ED...when take 1/2 profits, do you[08:16 am] Mitch K: monitoring CTXS move your stopp down or leave it at the new high[08:25 am] Ed : more selling in market [08:36 am] scalpman : ...on a short (for ex.)[08:34 am] Ed : SPY new lod [08:36 am] Ed : whenever I take profits I then move stop to[08:39 am] Mitch K: watching XOM b/e as to protect profits[08:40 am] Ed : CXO bouncing [08:36 am] Ed : great questiong though[09:16 am] Ed : SPY new lod [08:36 am] scalpman : By doing so, though we missed a[09:29 am] Ed : more selling in markets bigger 2nd leg down on CNC[09:32 am] Mitch K: watching LNKD [08:37 am] Ed : right see my entry may be alot different from[09:37 am] Ed : getting bounce in SPY ur entry[09:46 am] Mitch K: monitoring SXCI for bottom to buy [08:38 am] scalpman : Yes...I had a more conservative[10:12 am] Mitch K: sorry about that entry...at 30.93 on CNC S[10:12 am] Mitch K: watching KEG for bounce [08:38 am] jsn13 : victor, what have u traded?[10:20 am] Ed : SPY trading at lod [08:39 am] Ed : ok so in that case u can leave at high of day,[10:58 am] Ed : SPY trading at trendline resistance see if stock puts in higer low[11:08 am] Ed : SPY test lod, [08:39 am] Ed : see in that case even if u stop out overall ur[11:11 am] Mitch K: watching PM making money on that trade[11:23 am] Ed : more selling in markets [08:44 am] Ed : meant lower high for the short[11:41 am] Ed : getting bounce in SPY [08:47 am] victor51 : jason, currently, WYNn short and XOM[11:44 am] Ed : watching GCI for potential short long. Earlier long vrx,lnkd,hp, ts,ctxs ROSG. and lvs short.[11:52 am] Ed : if u took GCI short woud cover some here All from Mitch and Ed[12:16 pm] Mitch K: watching ACAT [08:47 am] jsn13 : Ed, did u take XOM long?[12:22 pm] Mitch K: getting toppy ACAT [08:47 am] Ed : yes[12:26 pm] Ed : talk is Moodys will cut 9 banks i nEurope [08:48 am] jsn13 : entry at 11.44?[12:27 pm] Ed : also rating of long term debt of Bank Of [08:48 am] Ed : 1/2 at 11:42 and 1/2 at 11:44Amer., Citiruop will be cut missed the 3rd [08:49 am] scalpman : Out XOM b.e.[12:35 pm] Ed : SPY trading near lod [08:50 am] jsn13 : thanks victor and ed for the info.....[01:00 pm] Mitch K: Have a good evening everyone [08:51 am] Ed : i took profits at .57 full looking for reintry[02:30 pm] Mitch K: good job ed possibly [08:52 am] jsn13 : ok thanks ed...very nice... [08:53 am] Ed : just my patience sometimes, thought it should have been moving but SPY not helping [08:53 am] jsn13 : had the same feeling while looking at it...have u reenter? [08:53 am] scalpman : XOM is a war [08:53 am] Ed : no, just watching now 6
  • 7. [08:56 am] scalpman : Double Bottom XOM[08:56 am] victor51 : Scalpman, I agree,I am out[08:57 am] scalpman : Sellers winning...on XOM[08:57 am] jsn13 : xom having difficuty at the downtrend lineresistance...[08:58 am] Ed : fyi, normally when weak like that, would begood short breakn lod with vol, but did not take due to lack ofvol and so close to potential support on daily[09:00 am] jsn13 : agree...no edge in short.....[09:00 am] Ed : nice observation[09:01 am] scalpman : Time to go...good day 3/3...1 goodtrade 2 smaller greens.[09:01 am] scalpman : (not a question)[09:01 am] qwert : nice scalp[09:01 am] scalpman : Thanks for good calls, Mitch, ED andmike...[09:01 am] jsn13 : saw potential support at 83....no longeither for now....wanna see how it acts at 83 level....[09:02 am] scalpman : Thanks qwert...I started 1 hour latetoday and seems to then pick a few good trades.[09:03 am] jsn13 : good job scalpman...have a great rest ofthe day.....[09:03 am] scalpman : Id like to play the morning...but it istoo fast...and I seem to pick the fizzlers....(not always, but alot). This mide morning trades seem more obvious tome....and therefore successfull.[09:04 am] Ed : nice going scalp[09:04 am] cdougan : nice job scalp[09:06 am] scalpman : Thanks guys....I need some help onhow to play the opening hour. There are so many ideas, Idont know where to focus.[09:07 am] Ed : dont u have another session scalp[09:07 am] scalpman : Yes...ed...we need to schedule it...[09:07 am] Ed : will make a note hour of power[09:08 am] scalpman : I worked on a week of more agressiveentries, but I was always stopped out[09:08 am] scalpman : I went back to Mitch Style trades midmorning...[09:09 am] scalpman : I dont have the skill yet to read thecandles better...[09:09 am] scalpman : I have 2 minute and daily charts upand watch SPY on 2 minute[09:09 am] Ed : definitely about finding what fits you, butnever know till give a shot, so now u know[09:11 am] scalpman : But, I want to keep progression,turning $$$ days in the $$$$ days.[09:11 am] scalpman : ...into..[09:11 am] scalpman : Bye for now guys.[09:11 am] scalpman : See you tomorrow.[09:11 am] Ed : take care[09:11 am] qwert : bye sky[09:11 am] scalpman : Oh, Ed...I will send email via Heatherfor next session.[09:12 am] Ed : great[09:12 am] scalpman : Scalpman has left the building![09:16 am] victor51 : break time. see you[09:32 am] cdougan : bbby broke LOD[09:46 am] Ed : u beat me to it Mitch[10:00 am] cdougan : thats all for me. Thanks for the callsand have a great day.7
  • 8. [10:01 am] Ed : take care cdougan[10:12 am] lisas : anyone else getting chime echoo?[10:12 am] jsn13 : me[10:12 am] lisas : hand off button![10:12 am] Ed : yes[10:12 am] qwert : hahaha[10:13 am] lisas : jingle bells?[10:13 am] skydiver : wow - Im awake now - :)[10:13 am] lisas : wake up Mitch, lol[10:13 am] lisas : ok, muted![10:13 am] Ed : he has to get to #500 keyboard[10:13 am] lisas : someone tell me when its safe to turnsound back on, lol[10:14 am] jsn13 : i also muted it....haha....[10:16 am] lisas : refreshing works[10:16 am] go4it : BBBY movin up[10:17 am] jsn13 : thanks lisa...[10:17 am] qwert : thx lisa[10:31 am] go4it : Mitch is KEG looking juicy?[10:47 am] go4it : L KEG 8.10[11:11 am] murano : GCI[11:17 am] Ed : good eye murano[11:19 am] qwert : news on gci? i couldnt find any[11:19 am] go4it : nice murano[11:24 am] jsn13 : Ed, did u take GCI short? may i knowwhere is ur entry?[11:31 am] victor51 : Wynn long??[11:32 am] Ed : not at this level on Wynn, would monitor onpullback see if lod holds[11:36 am] Ed : just watching jason[11:37 am] victor51 : Thanks Ed[11:39 am] victor51 : There must be some news on GCI[11:39 am] gub : pm long?[11:39 am] gub : PM?[11:40 am] Ed : not good buy at this level gub, itsconsolidating, let buyers/sellers fight it out[11:40 am] gub : TY![11:41 am] qwert : anybody ever see any news on gci[11:41 am] Ed : not yet[11:44 am] victor51 : WYNN crosses 50 mva[11:51 am] jsn13 : Ed, r u in GCI short already?[11:51 am] Ed : yes 13.73[11:52 am] skydiver : thnx for GCI - S GCI 13.67 - will do Ed-- :)[11:53 am] eddy : out halk gci short 13.58[11:53 am] jsn13 : I got it at 13.74 but out half at 13.62....stillhave half in....[11:54 am] jsn13 : out all at 13.54....thanks ed and muranofor GCI....[11:55 am] eddy : all out gci 13.53[11:56 am] victor51 : Jason, you are already out on GCI.What was your strategy[11:57 am] skydiver : covering all of GCI S at 13.51[11:57 am] jsn13 : i juz saw it move down fast so wasthinking that it would bounce easily....not a good strategythough....[11:58 am] Ed : nice trading gang[11:58 am] skydiver : thnx to you Ed :) made my day :)[11:58 am] qwert : love it thx nurano and ed[11:58 am] Ed : hey murano did u take the long also8
  • 9. [11:59 am] qwert : nurano = murano :)[11:59 am] murano : No[11:59 am] Ed : next time[11:59 am] victor51 : Jason, you must be trading big lot[11:59 am] jsn13 : thanks ed....did u take it long? and is thisur 1st entry for GCI short?[12:00 pm] jsn13 : no im juz trading very small position....juzdont want risk off the profit...not a good thought....[12:00 pm] Ed : No, did not take long, and took it short 2:45,was waiting for trade to setup[12:00 pm] eddy : ed will you take it long again?[12:01 pm] Ed : i will pass, I have had when I use a stock, Imean buy/short stock I take off screen[12:02 pm] Ed : Its habit, from days when I would trade astock too many times, so to alleviate I would just take stockoff screen, but its been habit now for 2 years[12:03 pm] jsn13 : this is my 2nd entry actually....tried at 2.39bar but got stopped out....its ok 6cents loss...then renenterwhen more signals showed up....entered at 2.44bar...agressive entry....[12:03 pm] Ed : I think 2md entry is alright as long as urgetting a "good" signal and are not revenge trading[12:04 pm] Ed : problem when ur new is 2nd turn into 3,4,5....and so on, u end up passing other grea opportunitie[12:05 pm] Ed : cant spell[12:05 pm] jsn13 : i saw very good volume and like the2.43pm bar....expected that so went right in once itclosed....rejection fo higher prices plus R3 and 13.75 potentialresistance....[12:05 pm] Ed : cool nice trade[12:06 pm] qwert : way to go jsn[12:06 pm] jsn13 : my rule is that nvr trade any stock morethan 2 times at the same level....[12:07 pm] jsn13 : thans ed and qwert....[12:08 pm] jsn13 : skydiver, what strategy do u use for exit?u seems to hold on to winners longer...[12:08 pm] garyb : Hi everyone! :)[12:08 pm] garyb : Busy day but I thought I would pop by fora beer! :)[12:08 pm] qwert : been some really great calls today :)[12:08 pm] Ed : victor did u take WYNN long after it pullbackheld had higher low[12:08 pm] Ed : hey Mr. GaryE$$$[12:09 pm] garyb : lol Ed![12:09 pm] garyb : Oh yeh baby! Daddy G is in the house![12:09 pm] Ed : lol[12:09 pm] qwert : hahaha[12:10 pm] garyb : Anywone still holding their UVXY fromyesterday?[12:15 pm] jsn13 : skydiver, r u here?[12:18 pm] skydiver : hey jsn - im multi-tasking with a wholebunch of student violinst[12:18 pm] skydiver : Im back[12:18 pm] skydiver : TPX dropping[12:19 pm] jsn13 : sorry to disturb....juz wanna learn from uwhat kinda of exit strategy u use to exit...if u have time....[12:20 pm] skydiver : well - today lousy one - had to exit toget to the violin students question and didnt want to keepthat stock while gone[12:20 pm] skydiver : but -- gut sense -- was it was pretty9
  • 10. much done going down --[12:21 pm] skydiver : market selling off more[12:21 pm] jsn13 : as in why did not scale out early adn vankeep it till the very top or bottom....like for vrx and gci....[12:21 pm] skydiver : S ACAT 35.12[12:22 pm] jsn13 : at the points of ur exits, i only have maybe1/2 or 1/4 left....i alwasy exit early so wanna see what methodu sue to time ur exit...[12:22 pm] jsn13 : *always, use[12:24 pm] skydiver : well Jason - hard to explain -- Im usingstochastics SPY SPX candles, but my gut sense when to buyor sell is getting better. Kind of like playing an instrument --see all these notes (indicators) and play music :)[12:25 pm] jsn13 : haha nice...2min or 1 min stochastics?[12:26 pm] skydiver : I lean on 1 minute, but have 2 and 5minute chart up as well as well as daily[12:26 pm] skydiver : thnx Ed[12:26 pm] eddy : sky u still short acat?[12:27 pm] skydiver : yeah eddy - that one wasnt best "gut"feeling to jump in :) I shouldnt have while talking to anotherperson --[12:28 pm] eddy : i got stopped out[12:28 pm] jsn13 : thansk skydiver...u really let ur winnersrun......good job....so for vrx and gci, seemed like u used 2min stochastics to exit....but what r ur settings?[12:28 pm] eddy : u have strong nerves to have stayed:)[12:28 pm] jsn13 : fro stocahstics? 6,5,4 or 8,7,6 or 10, 8,7?[12:29 pm] skydiver : stochastic jsn? I use 6 5 4 on esignal[12:29 pm] jsn13 : im using that setting as well....thanks....[12:29 pm] skydiver : I used to use 8 7 6 , but prefer the 6 5 4[12:30 pm] jsn13 : agree...especially in this fast movingmarket....thanks....[12:30 pm] skydiver : no eddy - no strong nerves - justlearning patience :)[12:31 pm] eddy : well done at BE now[12:32 pm] skydiver : yes eddy :)[12:34 pm] skydiver : well eddy - I just moved my stop downto be on ACAT S -- dont like the way its looking, but willstay in for now or stopped out[12:37 pm] skydiver : well - stopped out of ACAT S at be[12:38 pm] eddy : u did well sky[12:39 pm] skydiver : thnx eddy - prefer a profit, but be okayinstead of loss :)[12:39 pm] skydiver : will monitor ACAT - but time is gettingshort for today[12:41 pm] eddy : im done tonite[12:41 pm] eddy : see u all tom ...bye[12:41 pm] skydiver : ok eddy -- you have a great evening -see you tomorrow[12:41 pm] Ed : c ya eddy[12:42 pm] skydiver : love the sound of many violins slightlyoff key - children group here learning to play[12:42 pm] Ed : lol[12:42 pm] skydiver : kind of like scratching finger nails on achalk board[12:43 pm] skydiver : makes trading slightly challenging :)[12:43 pm] victor51 : Gary, congrats on UVXY[12:45 pm] victor51 : Ed, I took Wynn 11:30 at 102.73 andclosed 12:05 at 102.52. Your critique please[12:45 pm] Ed : is that pst or est time10
  • 11. [12:47 pm] victor51 : pst. I am in california[12:49 pm] garyb : UVXY IS A ROCKET !!!!![12:49 pm] garyb : YEHHAAA![12:49 pm] skydiver : nice gary -- I may have to look at theUVXY closer :)[12:50 pm] garyb : I bought a TON of UVXY last night andwas nervous....great day![12:50 pm] skydiver : nice :)[12:50 pm] skydiver : I wondered who bought one millionshares all at once last nite![12:51 pm] garyb : LOL[12:51 pm] Ed : looks like timing on that one, it had alreadymoved up quite a bit and u bought right at the area ofbreakdwon, also, SPY had gotten weak again[12:53 pm] Ed : Then at 2:32 i mentioned to wait for pullbackand see if lod held b4 taking long, like higher low[12:54 pm] qwert : everybody have a great night see ya all inthe am thx for the awesome calls[12:54 pm] Ed : u see that victor[12:54 pm] Ed : c ya qwert[12:55 pm] skydiver : take care qwert[12:58 pm] Ed : when u had the pullback and higher low formon WYNN had better profit potentil due to potential area ofressitance[12:59 pm] garyb : wow...UVXY is up almost 22% today!! lol[01:00 pm] victor51 : Ed, you are right. I also bought it atresistence. Only, reason i bought that my earlier short I gotout way early with good profit and regretted . i believe thiswas regret reaction and thought it will bounced back. Not agoood strategy.I ignored SPY lttle bit because couple ofstocks were going against spy. How would you handle it[01:01 pm] lisas : bye all, have a great nite[01:01 pm] Ed : c ya lisa[01:02 pm] Ed : Best approach is to ask urself question b4taking trade do I have an edge or am I just taking a trade forsake of it?[01:03 pm] Ed : Many time we know what correct, but still gowith the emotional flow, this is what we want to alleviate[01:04 pm] Ed : Just like anything else that has to be workedat, its alright to ask urself this question many times b4 takinga trade until it is 2nd nature to you, like positive biofeedback[01:05 pm] victor51 : ed so 11:37 would have been rightentry[01:05 pm] Ed : You would have more of an edge[01:06 pm] Ed : so much different trade than buying right atpotential resistance[01:07 pm] jsn13 : which bar on wynn confirmed the higherlow on WYNN and where would be the entry?[01:07 pm] victor51 : thanks Ed. I still have to work on gutfeel or emotional trading. Also, psychology that I had greatam session and really gamble from earlier profit.[01:10 pm] victor51 : is there any audio Ed?[01:10 pm] Ed : audio?[01:12 pm] victor51 : Audio for your explanation[01:12 pm] Ed : 1 second[01:13 pm] Ed : who else is here?[01:14 pm] gub : I am[01:14 pm] jsn13 : im[01:14 pm] gub : Im learning from you guys.[01:14 pm] Ed : cool11
  • 12. [01:14 pm] gub : good.[01:15 pm] Ed : is ur vol. up jsn,victor?[01:16 pm] victor51 : let me check[01:16 pm] jsn13 : yup..[01:16 pm] gub : good.[01:16 pm] victor51 : yes[01:16 pm] jsn13 : good[01:16 pm] sakii : good[01:18 pm] victor51 : Is audio on? I cant hear[01:18 pm] sakii : yes[01:18 pm] gub : yes.[01:18 pm] jsn13 : yes but not very loud...[01:18 pm] jsn13 : max[01:18 pm] sakii : loud and clear[01:18 pm] gub : yes.[01:18 pm] victor51 : something may be wrong with my pc[01:19 pm] sakii : ha ha ha[01:19 pm] jsn13 : could be wth connection....[01:19 pm] jsn13 : not sure...[01:19 pm] jsn13 : i can[01:19 pm] gub : where is the refresher?[01:19 pm] jsn13 : u can continue...[01:19 pm] jsn13 : thanks...[01:19 pm] gub : BTW[01:20 pm] victor51 : i got it[01:20 pm] victor51 : yes[01:21 pm] jsn13 : yes[01:22 pm] jsn13 : yup[01:23 pm] jsn13 : yes...[01:23 pm] victor51 : yes[01:23 pm] sakii : yes[01:24 pm] jsn13 : yes similar....[01:30 pm] gub : I have TS. Can I insert the resistance line inmy charts?[01:30 pm] jsn13 : right...[01:33 pm] victor51 : ED o you are looking at recentresistance. I use stop out at 102.30[01:33 pm] gub : resistance is what I really dont know how tofind.[01:33 pm] victor51 : is it good idea to use recent r[01:34 pm] jsn13 : its the most conservative way to calculater and r ratio i think....[01:35 pm] victor51 : How do we overcome regret. I took 1%profit and 2cents diff. I lost opportunity of another 2%[01:36 pm] victor51 : This is great[01:36 pm] jsn13 : 90%[01:37 pm] gub : not sure.[01:37 pm] victor51 : 70% lately[01:37 pm] sakii : Ed, would us show us what your looking foron a daily chart...[01:37 pm] sakii : sorry[01:37 pm] sakii : 80%[01:40 pm] gub : I really like that part of trading - its exciting.[01:40 pm] victor51 : yes.[01:40 pm] jsn13 : if we constantly take profits early, what dou suggest us to do?[01:40 pm] gub : TY for saying what youre saying - I feelbetter.[01:41 pm] victor51 : I am improving everyday and removingold habits12
  • 13. [01:42 pm] gub : When I pull up daily it shows at bottomgoing back to March.[01:43 pm] gub : on the chart.[01:43 pm] victor51 : But day like today will skew daily a lot.Isnt it?[01:44 pm] gub : I am looking at the TS chart.[01:46 pm] jsn13 : i think he called it during the drop at theopen...[01:46 pm] jsn13 : i got stopped out once at 55 area...[01:47 pm] victor51 : no[01:47 pm] sakii : no[01:47 pm] gub : no[01:47 pm] jsn13 : entered at 9.37[01:48 pm] jsn13 : then another entry at 9.43[01:49 pm] jsn13 : so there was good signal?[01:49 pm] jsn13 : juz did not work?[01:49 pm] jsn13 : thanks...means the prob is not inselection....[01:50 pm] sakii : yes[01:50 pm] gub : yes.[01:51 pm] jsn13 : yup thouight of that....[01:51 pm] jsn13 : above 55 as stop?[01:51 pm] jsn13 : nice....today VRX and DCI did not workwell also....especially the 1st bounce...[01:53 pm] Mitch K: VRX gave a 2.5% bounce jason but wasgreat short. i wasnt sure if it was going to sell off until westarted seeing the overall markets sell off[01:53 pm] jsn13 : took profit at 9,46 am and 9.48 am onLQDT long[01:54 pm] jsn13 : thanks mitch....[01:54 pm] sakii : yes[01:54 pm] victor51 : so we shouldnot feel bad I f we arewrong. Just change direction and go with flow[01:55 pm] jsn13 : but victor i think we need to have goodprices...[01:56 pm] jsn13 : Ed, would u gong long LQDT at around10.15 and 10.36 maybe?[01:57 pm] jsn13 : since they moved down so much andhave 50 bucks as potential support....nice volume...[01:57 pm] psoxman : Prior to the market open, did you thinkLQDT was going to drop?[01:57 pm] sakii : yes[01:57 pm] jsn13 : yup...would u go long at next bar?[01:58 pm] jsn13 : ur signal is 10.14?[01:58 pm] jsn13 : or 10.13 with the max bar?[01:59 pm] jsn13 : DCI[01:59 pm] victor51 : Ed, but at 6:30 to 7:30 trades, there isnot much time. How do you use chart at that time slot[01:59 pm] jsn13 : and VRX[01:59 pm] victor51 : nke[01:59 pm] jsn13 : from today....[01:59 pm] jsn13 : hahaha nice...[02:01 pm] victor51 : Mitch, vrx was the best trade for me[02:01 pm] jsn13 : short at the rebound....[02:02 pm] sakii : U2 Mitch[02:02 pm] jsn13 : 9.54 am as entry....[02:03 pm] jsn13 : where is the conservative entry?[02:04 pm] jsn13 : ok thanks ed....[02:05 pm] jsn13 : this is a great one to talk about...[02:05 pm] Ed : ?13
  • 14. [02:06 pm] jsn13 : was 2.35 or 2.38 the potential signal? [02:07 pm] gub : yes. [02:07 pm] jsn13 : yup [02:07 pm] victor51 : yes [02:07 pm] gub : yes [02:08 pm] gub : yes [02:08 pm] sakii : yes [02:09 pm] jsn13 : yes... [02:09 pm] jsn13 : was 2.35 or 2.38 the potential signals for GCI? [02:09 pm] jsn13 : i think around 13.20+ area.. [02:10 pm] jsn13 : yup [02:11 pm] jsn13 : what price was that? [02:11 pm] sakii : yes [02:12 pm] jsn13 : yup 50 ma [02:12 pm] victor51 : Also ddoji [02:13 pm] jsn13 : did u take it short after the doji? [02:14 pm] sakii : yes [02:14 pm] victor51 : i like those doji before drop [02:14 pm] jsn13 : why u did not take profit at 13.60 area? when it kinda slow down and formed a bottom? [02:16 pm] jsn13 : ok.... [02:17 pm] victor51 : I normally hold long and le profit grow rather than going in and out [02:17 pm] jsn13 : how do u not let the winners turn into losers? [02:17 pm] victor51 : I still need help early morning how to use charts [02:18 pm] jsn13 : but victor i like ur exits.... [02:18 pm] sakii : pull the trigger [02:18 pm] jsn13 : sometimes we want bigger profit, and ended up fluctuating off... [02:19 pm] jsn13 : im actually asking victor....how he can hold on longer..... [02:19 pm] jsn13 : like what is his strategy.... [02:20 pm] jsn13 : DCI did not work well today....even with good setup... [02:20 pm] victor51 : I know my loss limt, i adjust and wait. Its easier to stay in trade than in and out [02:21 pm] victor51 : Do you provide one to one coaching service Ed? [02:21 pm] jsn13 : my 1st exit for GCI was at 2.46 and 2.52pm [02:21 pm] jsn13 : 2.52 for my 2nd half at 13.54 [02:22 pm] sakii : yes [02:24 pm] Ed : service@tradestocksamerica.com [02:26 pm] victor51 : Thats great. i will be travelling in July but will write tio them. Thanks your help [02:26 pm] jsn13 : thanks ed...appreciate the session.... [02:26 pm] sakii : Thanks Ed [02:26 pm] victor51 : how about the book [02:26 pm] Ed : the book [02:27 pm] victor51 : I thought you going to recomend book [02:27 pm] Ed : johh murphy book on technical analysis [02:27 pm] victor51 : Fantastic. have a great evening [02:27 pm] Ed : you tooSWI (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. 14
  • 15. 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.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, 15
  • 16. 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. 16

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