Daily Stock Report Tuesday Morning, June 26, 2012


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Daily Stock Report Tuesday Morning, June 26, 2012

  1. 1. Daily Stock Report Tuesday Morning, June 26, 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!Why are US stocks down again? 1. It’s a Monday and often there is some bad news over the Summary Opinion weekend that causes worry. The last 8 out of 9 Monday shave You might consider taking some of the profits in the short been down, most of them triple digits. positions as they mature the next 1-2 days in anticipation of a 2. Moody downgraded 28 Spanish banks today. strong pop up in the markets on the Supreme Court decision due 3. EU summit this week; Germany still saying “NO” to common out this Thursday at the latest but could come as early as banking system; no cohesive plan yet. tomorrow. 4. Spain made formal request from IMF [Int’l Monetary Fund] for Calendar (All Eastern times) money to shore up banks. Monday, 1000am, New Home sales, 350k 5. France being suggested as next European country to suffer. Tuesday, 900am, Case-Shiller 20 city Index 6. Low volume summer trading started. Tuesday, 1000am, Consumer Confidence, 63.0 Wednesday, 7:00am, MBA Mortgage Index, -0.8%The market is still trying to price in the implications of Europe 1) going into Wednesday, 830am, Durable Orders, 1.0%recession, 2) Greece, Spain, Italy and now France breaking up the Euro Wednesday, 1000am, Pending Home Sales, 0.5%and how that could affect global economies. It is difficult to forecast such Wednesday, 1030am, Crude Inventories, 2.86Man unprecedented event but my opinion for some time is that the odds are Thursday, US Supreme Court decision on healthcare plan.we continue a downtrend through most of the summer. Thursday, 8:30am, Initial Claims, 385,000 Thursday, 830am, Continuing Unemployment Claims, 3.275KWe may get a pop up if the US Supreme Court overturns the Obama Thursday, 830am, GDP (Gross Domestic Product), 1.9%healthcare plan. The basis of that decision is would be unconstitutional to Friday, 830am, Personal Income, 0.1$force all Americans to buy a pre-packaged health care plan. The Friday, 830am, PCE, 0.2%companies that would benefit from an overturned decision are the largest Friday, 945am, Chicago PMI, 52.4companies like Wal-mart, Costco, Home Depot, Target and many others. Friday, 955am, Michigan sentiment, 74.1 Follow-up notes:This is one of the biggest reasons why Fortune 500 companies CEO’s are LO, Lorillard Group, This is acting stronger than expected; considerciting as an “unknown” in their business planning. The other is the tax reducing short. If not short, consider different short.overhaul that Obama vows he will change in 2013, if he is re-elected. The LOGI, Logitech is acting strong so if you are short, consider coveringrebound from an overturned decision may spark a fairly strong rally before Tuesday.fizzling and being overcome by the weight of Europe.Later this fall, the presidential election would be the other deciding factor for the largest employers to make business decisions. It is very conceivablethat these two factors of a Republican president and an overturned healthcare plan would be a catalyst for a rally of some sort in spite of the bearforecasters for global markets. The US could start its own economic recovery strong enough to overcome the fear of a European recession and at somepoint investors will start to be immune to the same old fear factor from Europe.In the meanwhile, you might consider taking some of the profits in the short positions as they mature the next 1-2 days in anticipation of a strong pop upin the markets on the Supreme Court decision due out this Thursday at the latest but could come as early as tomorrow.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. US Housing recovery not strong yet 11. Brazil economy stalling 12. Money is flowing into US dollar, US Treasuries and German government securities. 13. US economic policy not repairing economy. 14. Current US president not strong leader; creating more debt 15. India economy sharply pulling back now; just starting to hit news. 16. No serious discussion on US budget among politicians; Bernanke warns this as biggest fiscal cliff. 1
  2. 2. 17. French President Hollande leaning heavily to the left toward spending and increasing taxes; not working well with Germany’s Merkel. 18. Healthcare costs and tax structure for US companies unclear; US Supreme Court decision due week as late as Thursday 6-28-2012. 19. France being suggested as next European country to have financial problems. 20. Low volume summer trading. Scalp of the day from Trading Room: (all eastern times) APOL, Apollo Group gave a 5.5% short early in the session today; market was one-sided on the down side. Ideal market is when market is slightly bullish with still some fear in investors mind’s so longs and shorts will work. 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. 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. 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. RBC, Regal-Beloit. Watching for potential short next 1-3 days. PANL, Universal Display. Consider small short (only a few days hold time). HGG, HHGregg. Consider small short position. VCI, Valassis Communications. Watching for short entry. Intermediate Trade Ideas: (weeks to months) DV, Devry. Consider small short position. CLB, Core Laboratories. Consider small short position. NFX, Newfield Exploration. Consider small short position. QSII, Quality Systems. Consider small short position. SNI, Scripps Networks. Consider small long position $54-55 area. SHW, Sherwin Williams, consider small long below $125. 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.Focus Chart: (Worden Telechart 2007-Download FREE on home page WAG, Walgreen. Consider small long position.of www.TradeStocksAmerica.com.) ROST, Ross Stores. Consider small long position next 1-2 days.SHFL, Shuffle Master continues to follow the same downtrend TIF, Tiffany’s. Consider small short.that was established in May. Looking for low $12’s but be SHOO, Steve Madden. Consider small short.flexible, as always. RBS, Royal Bank of Scottland. Consider small short. FFIV F5 Networks. Consider small short position. RHT, Redhat. Consider small short position. SFD, Smithfield Foods. Consider small short position. Aggressive Investors-Traders (Higher risk, higher reward) HNR, Harvest Natural Resources. Watching for potential short, for aggressive investors. 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. 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 18.48SLF, Sunlife SHORT-SWI Re- Re-entered short Friday 21.94LVLT,LVLT Level 3 SHORT-SWI Covered short Friday for breakeven. 21.55 21.55LOGI,LOGI Logitech 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 14.25NBL, Nobile Energy LONG-SWI Stopped Thursday for 5% loss. 83.88 79.75HLX, 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 Lower low Monday, looking for lows under $35 37.35CNK, Cinemark SHORT-SWI Downtrend continuing. 21.69SODA, 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 Consider reducing short Tuesday. 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 Stopped Thursday for 5% loss 55.50 52.72ORLY, O’Reilly Auto LONG- LONG-INT Small long position. 101.75BK,BK Bank NY LONG-INT Closed Friday for breakeven. 21.09 21.08RMD,RMD Resmed Health LONG-INT Closed Friday for 3% loss. 31.96 31.00PXP,PXP Plains Explorat SHORT-INT Consider covering Tuesday. 34.69APC, Anadarko Petro SHORT-INT Consider reducing short Tuesday. 64.52FTI,FTI FMC Technology SHORT-INT Consider covering short Tuesday. 41.07BCS, Barclays Bank SHORT-SWI Small short position. 12.93OKE,OKE Oneok SHORT-SWI Consider covering short Tuesday. 43.53ASIA,ASIA AsiaInfo SHORT-SWI Consider reducing short Tuesday. 11.94WAG, Walgreens LONG-INT Small long position. 29.33HXL,HXL Hexcel SHORT-INT Consider reducing short Tuesday. 24.36IAG,IAG IamGold SHORT-INT Small short position. 11.89LAZ,LAZ Lazard SHORT-SWI Consider reducing short Tuesday. 25.39 3
  4. 4. IMAX,IMAX Imax SHORT- SHORT-SWI Don’t have big short position in this one; strong. short 22.72JAZZ, Jazz Pharma SHORT- SHORT-SWI 2- Looking for another 2-3 down days but reduce? 45.25NSC,NSC Norfolk South SHORT- SHORT-SWI Small short position. 69.25RBC, Regal-Beloit SHORT- SHORT-SWI Small short position 61.48DY,DY Dycom SHORT- SHORT-INT Small short position. 17.18QSII, Quality Systems SHORT- SHORT-INT Small short position, new low. 26.54COF,COF Capital One SHORT- SHORT-INT Small short position 51.74RBS, Royal Bank SHORT- SHORT-INT Small short position 7.43HNR,HNR Havest Natural AGGRESSIVE Small short position. 8.91Here 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 25, 2012 June 25, 2012TSA Moderator Chat User Chat[06:25 am] Ed : good morning traders [06:14 am] apple : good morning to all peppy traders[06:36 am] Mitch K: watching CLR, CERN, EXXI for bottom [06:19 am] lisas : gm all[06:36 am] Mitch K: watching QIHU for bottom [06:19 am] jolliffboy : GM from soggy, rainy Tampa[06:36 am] Mitch K: watching HAIN for bottom to buy [06:20 am] eddy : Hello all[06:37 am] Mitch K: watching RVBD for bottom to buy [06:20 am] apple : gm lisa[06:37 am] Mitch K: watching MOS for top to short [06:20 am] cowboyh : Goodmorning all[06:37 am] Mitch K: watching STZ for top to short [06:20 am] apple : rainy here in nyc too jolli[06:37 am] Mitch K: watching LNKD for bottom to buy [06:20 am] apple : gm eddy[06:38 am] Mitch K: watching CAT for bottom [06:20 am] apple : gm cowboy[06:38 am] Ed : watch CF for short other ag turning over [06:20 am] skydiver : gm all - and rainy here in Portland Oregon as[06:39 am] Mitch K: watching MNTA for top to short well[06:39 am] Mitch K: SPY at low of day, looking for a bounce at [06:21 am] cowboyh : Goodmorning Applesome point, might not be strong [06:21 am] apple : gm sky[06:41 am] Mitch K: watching CXO for bottom to buy [06:21 am] jolliffboy : Raining everywhere, now I dont feel so bad.[06:41 am] Ed : SPY new lod [06:21 am] skydiver : gm apple[06:41 am] Mitch K: watching RTI, JWN, FBHS for bottom [06:21 am] apple : well create our own sunshine[06:42 am] Mitch K: watching NTRS for bottom [06:21 am] qwert : good morning everybody[06:43 am] Mitch K: watching STI, CXO, ST, NTRS, MASI, [06:22 am] skydiver : right on apple :)ROST TEX, RIMM for bottom [06:23 am] apple : gm qwert[06:44 am] Mitch K: watching AXS fo r bottom to buy [06:24 am] apple : focus on ARNA as well[06:46 am] Mitch K: watching MBT, JBHT, AGCO, XOM for [06:24 am] apple : gm Ebottom [06:24 am] qwert : gm apple[06:47 am] Mitch K: watching ORI for bottom [06:24 am] apple : gm ML[06:47 am] Mitch K: watching OXY for bottom [06:24 am] apple : MK[06:48 am] Mitch K: watching EGN for bottom [06:25 am] joeytsa : Good mornin Mitch, Ed, everyone[06:49 am] Mitch K: watching IPXL for bottom [06:25 am] apple : gm joey[06:53 am] Mitch K: watching KMI for bottom [06:25 am] qwert : gm ed[06:53 am] Mitch K: MOS toppy [06:25 am] skydiver : gm Ed[06:55 am] Mitch K: watching KLAC for bottom to buy [06:26 am] cdougan : morning all[06:56 am] Mitch K: watching SBH, PH, EC for bottom [06:26 am] apple : gm cd[06:57 am] Mitch K: watching UNH, HUM (healthcare) for top to [06:27 am] apple : earnings today APOL PKE and SNXshort [06:27 am] doji : Good morning fellas... just coming back from my[06:57 am] Mitch K: monitoring APOL for top business trip[06:58 am] Ed : if u took CF short would cover here [06:27 am] doji : Shark and I met in Lima!!!!! 4
  5. 5. [06:58 am] Mitch K: also watching WLP for top to short (another [06:27 am] qwert : gm dojihealthcare) [06:27 am] skydiver : welcome back doji.[07:00 am] Mitch K: watching NGLS for bottom [06:28 am] Ed : welcomes doji[07:00 am] Mitch K: indexes trying to bounce [06:28 am] apple : cool, doji! gm[07:01 am] Mitch K: housing stocks making a move up: DHI, [06:28 am] joeytsa : real cool, welcome back dojiKBH, PHM, TOL [06:28 am] skydiver : SVXY down[07:06 am] Mitch K: watching VECO for bottom to buy [06:28 am] apple : thx sky[07:15 am] Mitch K: SNTA trending up in down market, was up [06:28 am] doji : Thanks fellas... its nice to be back at least for fewall day Friday, low priced, smaller position worth long hours[07:16 am] Ed : SPY new lod [06:28 am] victor51 : good morning[07:18 am] Mitch K: new low on SPY [06:28 am] apple : gm victor[07:18 am] Mitch K: OXY bouncing [06:29 am] victor51 : Hi Apple[07:21 am] Mitch K: watching VECO, JEC closer [06:30 am] doji : Time to Rock![07:25 am] Mitch K: watching ESV for bottom [06:30 am] skydiver : JOY and CRM both down[07:26 am] Mitch K: then take some of those long and wait for [06:30 am] skydiver : LEN dropping dojiaudio alerts to sell [06:31 am] doji : Thanks Sky[07:26 am] Mitch K: you know all these stocks that are [06:31 am] garyb : morningdumping? this is what i was talking about as managing a lot of [06:31 am] doji : Gary!!!!!!!shorts and letting the system alert you when to cover, and all [06:31 am] doji : FLSR droppingyour job would be is to enter short orders and when they [06:31 am] garyb : doji!!mature, you just hear audio alerts to cover, stare at one alert [06:32 am] doji : FB dropping alsowindow [06:32 am] doji : TEVA holding 40[07:29 am] Mitch K: i would think it would get turned down and [06:32 am] garyb : UVXY next stop...the moon! lolstocks would pop [06:33 am] skydiver : HLF trying to go against market -[07:29 am] Mitch K: you guys think this SUpreme court ruling on [06:34 am] apple : big drop MNSThealthcare affecting market? [06:34 am] skydiver : JOY coming up - out 3/4 L[07:30 am] Mitch K: would be ok if it was stocks though [06:35 am] doji : No posts today?[07:30 am] Mitch K: i would think it would be unconstitutional for [06:36 am] apple : not yetthe government to force the people to buy something [06:36 am] Ed : always post[07:38 am] Mitch K: watching WPI [06:36 am] skydiver : watching FDX for a bottom[07:47 am] Ed : SPY new lod [06:37 am] skydiver : stopped out of final 1/4 of JOY[07:51 am] Mitch K: watching CUB [06:37 am] doji : FB continues to move up[07:56 am] Ed : SPY trading near horizontal reistance [06:38 am] apple : ES dropping[08:06 am] Ed : SPY trading at lows [06:38 am] jolliffboy : How about ROSG??[08:20 am] Ed : getting bounce in SPY [06:40 am] doji : What a V pattern in KROS[08:56 am] Mitch K: watching PCYC [06:40 am] doji : KORS[08:58 am] Mitch K: PCYC acting toppy [06:42 am] doji : GMCR double top[09:03 am] Ed : getting bounce in SPY [06:43 am] doji : KORS consolidating[09:05 am] Mitch K: watching MSM [06:44 am] doji : NTRS[09:20 am] Ed : getting nice bounce in SPY [06:53 am] doji : Gary, hope you are doing fine with UVXY...[09:21 am] Mitch K: im guessing VECO has a series of attempts [06:54 am] garyb : oh doji...MUCH better buddy!!! :)at bouncing, with smaller pullback and possibly higher bounce; [06:54 am] garyb : I was a little concerned on Fridaywatching for trending action [06:55 am] skydiver : New Home sales report due in 5 minutes[10:00 am] Ed : more selling in markets [06:56 am] skydiver : LULU has been nice today[10:26 am] Ed : SPY trading at potential resistance [06:56 am] skydiver : sharks stock - LULU[11:14 am] Ed : SPY trading in tight range [06:56 am] apple : thx sky[11:17 am] Ed : getting small bounce in SPY [06:57 am] doji : Are you swing UVXY from Friday?[11:33 am] Ed : DTV, justice probe into pricing [06:58 am] apple : thx E[11:57 am] Mitch K: monitoring WPI again [06:59 am] apple : over 40 ideas so far...[12:57 pm] Ed : Sorry for silence guys we had tornado hit, Im [07:00 am] victor51 : fine though [07:00 am] skydiver : New Homes sales up 7.6 percent, from[01:00 pm] Ed : have great evening previous adjusted number[01:00 pm] Mitch K: Glad youre alive Ed, see you guys [07:01 am] apple : thx skytomorrow [07:02 am] joeytsa : thanks sky [07:02 am] doji : LEN moved very quickly [07:05 am] garyb : Yes doji I am [07:06 am] garyb : I will try to swing all week [07:08 am] joeytsa : KORS testing prev hi [07:09 am] doji : Ill only day trade UVXY Gary... too risky to keep it overnight [07:13 am] garyb : Yes..it is risky buddy [07:14 am] doji : KORS [07:14 am] joeytsa : nice call on APOL Mitch [07:15 am] eyes : good morning everyone [07:15 am] joeytsa : hey eyes, happy bd :) [07:15 am] skydiver : gm eyes 5
  6. 6. [07:16 am] eyes : Thank you[07:16 am] doji : Happy birthday Eyes![07:17 am] eyes : thanks Doji[07:18 am] garyb : Happy Birthday EYES![07:18 am] skydiver : Happy Birthday as well eyes. Hope you havea great one!![07:18 am] apple : happy birthday to you .... eyes!!! all the best![07:19 am] joeytsa : GS testing $91 area[07:22 am] joeytsa : BIDU into dbl bottom area[07:23 am] doji : GS breaking down[07:23 am] skydiver : GS broke thru 91[07:26 am] skydiver : sounds awesome Mitch - :)[07:26 am] apple : thx MK, sounds great[07:27 am] doji : Sounds great![07:27 am] joeytsa : be nice and organized that way[07:28 am] skydiver : Supreme Court will not rule on Health Carecase today[07:28 am] joeytsa : hmmm[07:29 am] doji : Wow, SPY -166% today already[07:29 am] skydiver : HLF climbing[07:29 am] joeytsa : i think so Mitch[07:29 am] joeytsa : ye[[07:29 am] joeytsa : yep[07:29 am] skydiver : yes - my thought as well Mitch[07:30 am] joeytsa : might help with hiring, not sure what elsethough[07:30 am] skydiver : exactly Mitch -[07:30 am] skydiver : lol Mitch![07:31 am] joeytsa : its the uncertainty of the cost of futureemployees thats keeping companies, esp smaller ones from hiring[07:31 am] skydiver : out 3/4 on GS L[07:32 am] go4it : How is obamacare different from Social Security?[07:35 am] joeytsa : in a way it really isnt haha[07:36 am] eyes : you just get chardged twice LOL[07:38 am] go4it : Right Joey[07:40 am] eyes : any thoghts on CL trading at 78.40[07:46 am] garyb : JOEYYYYY!!!! Watch the Queensplate thisweekend?[07:46 am] joeytsa : straight of dover !![07:46 am] joeytsa : nice w2w run[07:47 am] garyb : Yes! Was in front the entire time![07:47 am] eyes : this ipad works really cool as a hotspot[07:47 am] joeytsa : anothere hastings jockey winning a big race[07:47 am] Ed : hey eyes[07:47 am] eyes : but i only bought two GB[07:48 am] eyes : Hey Ed how are you[07:48 am] Ed : good no complaints[07:48 am] eyes : awesome it does us no good to complain[07:48 am] joeytsa : break time, see you in 30[07:48 am] Ed : true[07:48 am] skydiver : take care joey[07:49 am] joeytsa : no trading, just making a list of questions for TStech support :)[07:50 am] eyes : did you get a TS a count Joey[07:50 am] joeytsa : yeah, all set up[07:50 am] go4it : Amrn[07:51 am] scalpman : joey: I use TS too.[07:52 am] doji : CUB is riding the 5min MA[08:08 am] skydiver : my time is up -- see you all tomorrow - slightlygreen day for me :)[08:08 am] Ed : c ya sky[08:09 am] apple : bye sky, have a great day[08:09 am] qwert : cya sky[08:11 am] eyes : any thoghts on CUB[08:12 am] apple : FDX took a nice drop today[08:19 am] scalpman : WPI : @ 72.06
  7. 7. [08:19 am] scalpman : Long[08:20 am] scalpman : out 2/3 WPI L[08:23 am] jsn13 : Ed, did u take WPI long?[08:23 am] scalpman : All out WPI L[08:23 am] scalpman : Trailed up last piece[08:24 am] scalpman : Little early on the first profit, but in thismarket I was being conservative...[08:24 am] apple : good job scalp[08:25 am] scalpman : Thanks apple...[08:25 am] Ed : nice, take what market makes available to you[08:25 am] Ed : yes I did jason[08:25 am] jsn13 : Where was ur entry?[08:26 am] Ed : will look at later, but 1st bounce only got plus .30and was out[08:27 am] jsn13 : adn u reenter at higher low?[08:27 am] Ed : will see what entry was later[08:27 am] Ed : nope passed[08:27 am] jsn13 : ok thanks ed....[08:28 am] jsn13 : so u took it once only right? and u got 30 cetnsright? i think i might know where is ur entry?[08:28 am] Ed : yes[08:28 am] jsn13 : as in u dont have to tell me the entry...thanks...[08:28 am] Ed : k[08:28 am] apple : its a big secret jsn![08:28 am] Ed : k=ok[08:28 am] qwert : haha[08:29 am] apple : gotta run to a class. thx MK, E and everyone.All have a great day![08:29 am] jsn13 : haha yeah apple....BIG secret...[08:29 am] qwert : bye apple[08:29 am] Ed : c ya apple[08:29 am] scalpman : I entered @ 72 at 10:58, got 72.32 and 72.58[08:29 am] jsn13 : have a great day apple...[08:30 am] Ed : nice trading scalp[08:30 am] scalpman : CUB moving[08:30 am] jsn13 : good one scalp.....[08:30 am] scalpman : Tanks jsn[08:30 am] scalpman : thanks[08:32 am] scalpman : ED do you think WPI is worth another leg upto 73[08:32 am] Ed : would not trust it, only if markets were strong[08:32 am] Ed : stronger[08:33 am] scalpman : It seem to hold when SPY moves down. ifSPY now rebounds....WPI seems to move with that[08:33 am] Ed : due to all the consolidation right under 73[08:34 am] eyes : see you all latter[08:34 am] qwert : bye eyes have a great B-Day[08:34 am] scalpman : Will watch...and look for a break out in thischannel[08:34 am] scalpman : by eyes[08:34 am] Ed : i will have to get trhough ,59 and .83[08:35 am] scalpman : Yes..,..[08:35 am] doji : LEN[08:36 am] doji : Hitting support here but I like it better at 26[08:36 am] scalpman : Good one doji[08:38 am] jsn13 : hey doji i agree with u....26 on len would benice...[08:39 am] scalpman : careful on LEN[08:40 am] doji : Watching VECO[08:42 am] doji : VECO should have support around 30[08:49 am] cdougan : Thats all for me today. Thanks for the callseveryone and have a great day.[08:49 am] qwert : bye cdoug[08:50 am] Ed : c ya cdougan[08:54 am] scalpman : Allout LEN S for small profit.[08:59 am] joeytsa : BIDU testing lod area7
  8. 8. [09:00 am] garyb : UVXY on the move again...what a monster[09:04 am] scalpman : Out of time...would have like to playedVECO and PCYC[09:05 am] scalpman : ...but will protect profits...and tradetomorrow. See you all then[09:05 am] scalpman : Thanks for great calls.[09:05 am] joeytsa : bye scalp[09:05 am] Ed : c ya scalp[09:05 am] scalpman : Bye Ed...Joey. Scalpman has left thebuilding![09:06 am] murano : SPPI[09:17 am] doji : See ya later fellas....[09:23 am] jsn13 : Ed, did u enter VECO twice?[09:23 am] qwert : bye doji[09:25 am] jsn13 : I went in twice, 1st BE...2nd one just out all at30.56 up bout 1%...[09:26 am] Ed : nice trade[09:26 am] jsn13 : how did u handle it?[09:27 am] Ed : just watched while eating lunch[09:27 am] eddy : is VECO Shortable here?[09:28 am] Ed : only if takes out lod with vol[09:29 am] jsn13 : ok i see....so far today I have 2 BE, 2winners....up nicely today....continuing the momentum from lastweek...[09:30 am] Ed : nice continure to be selective[09:30 am] joeytsa : nice trading jsn[09:30 am] qwert : way to go jsn[09:30 am] jsn13 : yup...had 7 trades on friday, have 4 tradestoday....[09:31 am] jsn13 : nice to be selective....thanks joey and qwert...[09:52 am] victor51 : Well done Jason[10:05 am] qwert : watching AEM[10:06 am] qwert : should say monitoring[10:07 am] qwert : Ed does monitoring mean you think its fartheraway from considering for a trade than watching[10:07 am] Ed : yes[10:07 am] qwert : okay thx thats what i thought[10:16 am] victor51 : d, please confirm that watching is lot closerthan monitoring?[10:24 am] victor51 : Ed, Veco is finally moving. Do you think it maygive me another 2%[10:27 am] Ed : are u looking to enter or already in trade[10:27 am] eddy : test[10:27 am] Ed : i see ya eddy[10:29 am] aussie123 : Ed want to check my charts... do you showspy resistance around 1312??[10:29 am] aussie123 : 131,2[10:30 am] victor51 : I entered earlier at 30.60[10:30 am] Ed : yes thats horizontal resistance[10:30 am] aussie123 : Thanx[10:31 am] aussie123 : Thanx[10:32 am] Ed : no problem[10:32 am] doji : SPY moving...[10:33 am] eyes : S AEM 42.05[10:34 am] qwert : nice eyes[10:34 am] victor51 : Ed, I am still getting used to focus on vol. andprice action on chart and not the profit/loss matrix column. it makeslot of sense but just hard to break old habit[10:34 am] Ed : just contnue to work at it, and it will become 2ndnature[10:34 am] eyes : i have a tight stop 41.88 any thoughts[10:35 am] eyes : thats the 50 MA[10:36 am] Ed : I would take some profit here and move stop tobreakeven on rest[10:36 am] eyes : i only have 100 shares[10:36 am] doji : Now Cyprus asking for a bail out8
  9. 9. [10:36 am] qwert : sorry eyes i took some off at .80 just smallposition[10:37 am] doji : small island in the mediterranean sea[10:37 am] Ed : I would take profits .5% is good this time of day[10:37 am] joeytsa : eventually the money has to run out i wouldthink[10:37 am] qwert : joey how was your beach body conference[10:38 am] joeytsa : it was really good actually[10:38 am] qwert : awesome[10:38 am] Ed : just the way I would play no right/wrong[10:38 am] eyes : Cool I have .84 stop[10:38 am] doji : TEVA[10:39 am] Ed : cool[10:40 am] qwert : eyes you trading off the ipad :)[10:40 am] eyes : Cl shure was a nice one up .90 hope someonegot it[10:42 am] eyes : no I have a laptop Ipad just hotspot[10:44 am] eyes : aem hit stop and went down still weak[10:46 am] eyes : well it was fun today up 125 paid for my Data card[10:47 am] Ed : nice going eyes, and trading on 100 shares[10:47 am] eyes : I am woking on it[10:47 am] Ed : get really consistent then gradually increas sharesize[10:48 am] eyes : ya i need to trade more than one Shares if i did Iwould still be in AEM :)[10:51 am] eyes : Ok I am out of here Good luck to Everyone[10:51 am] Ed : c ya eyes[10:56 am] qwert : bye eyes[10:57 am] victor51 : bye eyes[11:15 am] jsn13 : Ed, did u trade APOL today?[11:16 am] Ed : no[11:16 am] jsn13 : OK nvm then....thanks...[11:32 am] victor51 : Ed, what are looking at AAPL? is there anynews. i have never traded high price stock[11:33 am] Ed : I always have it up on my system[11:33 am] Ed : as apple goes so does market[11:34 am] victor51 : Thanks.[11:35 am] Ed : no problem its just one of my core stocks like totrade and keep an eye on also[11:35 am] victor51 : I keep Y open for market breadth. Is ther anybenefit with Apple[11:36 am] victor51 : I meant SPY[11:36 am] Ed : SPY is good[11:36 am] Ed : get overall market direction[11:37 am] victor51 : OK[11:58 am] doji : Big drop in CHK today...[11:58 am] jsn13 : Ed, did u go long on ARNA at 9.05 level?[11:59 am] doji : Brazil marked tanked almost 3% today[12:01 pm] jsn13 : 2.52pm bar was the signlal right? I hesistatedand apssed...what a waste...[12:02 pm] Ed : happens[12:03 pm] Ed : just wait for next opp[12:03 pm] jsn13 : u took it right at the open of 2.53 bar?[12:04 pm] Ed : played differently had small orders 9.06,9.01 and8.97, only one filled cancelled other[12:05 pm] jsn13 : gotcha....thanks....would it be too risky to takelong right at the open of 2.53 bar?[12:07 pm] Ed : good signal bar, just depends on ur stop, its differentfor some.[12:07 pm] Ed : not a one size fits all[12:07 pm] lisas : taking off, have a great day all![12:07 pm] Ed : c ya lisa lisa[12:08 pm] lisas : :)[12:08 pm] victor51 : Bye Lisa[12:08 pm] victor51 : Lisa, you were quite today[12:09 pm] jsn13 : would u have ur stop below 9? even then i think9
  10. 10. its good risk....did not take it as it opened near the bottom of signal bar... [12:09 pm] Ed : yes 8.96 [12:10 pm] jsn13 : cool....thanks....another good one to study tonight..... [12:11 pm] jsn13 : a breakdown below 9.30 followed by a nice bounce off 9... [12:24 pm] doji : Back [12:39 pm] mikewd2 -: doji: you back in SLB? [12:40 pm] doji : Hey Mike [12:40 pm] doji : nope yet... [12:41 pm] doji : I ams till waiting a little longer [12:47 pm] doji : Are you loading on oil stocks Mike? [12:51 pm] qwert : bye everybody cya all in the am thx for great calls [12:51 pm] doji : Good night fellas [12:51 pm] doji : Bye Ed [12:51 pm] Ed : take care doji [01:00 pm] garyb : Bye Mitch [01:00 pm] Ed : me too Mitch, LOLSWI (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. 10
  11. 11. 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. 11