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Daily Stock Report Monday Morning, June 25, 2012

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US stocks had a small snapback rally after Thursday’s sharp drop in the indexes but ended down for the week. The typical low volume in trading is gradually starting with July and especially August very low trading volumes. My guess is stocks are more likely to gradually trend down through the summer months as most professional and retail traders/investors return to the market in mid-September. The European union actions so far have been a band-aid approach to solving their financial problems since it is difficult for many countries to agree on a radical plan. The US politicians cannot even agree on a balanced budget which was due last year and poses our biggest threat to financial markets. We have a full schedule of economic data next week with most focus on the jobs numbers. Consider keeping positions smaller than normal with slight bias toward short positions. 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. China's 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.

Summary Opinion Consider keeping positions smaller than normal with slight bias toward short positions.

Calendar (All Eastern times) Monday, 1000am, New Home sales, 350k Tuesday, 900am, Case-Shiller 20 city Index Tuesday, 1000am, Consumer Confidence, 63.0 Wednesday, 7:00am, MBA Mortgage Index, -0.8% Wednesday, 830am, Durable Orders, 1.0% Wednesday, 1000am, Pending Home Sales, 0.5% Wednesday, 1030am, Crude Inventories, 2.86M Thursday, 8:30am, Initial Claims, 385,000 Thursday, 830am, Continuing Unemployment Claims, 3.275K Thursday, 830am, GDP (Gross Domestic Product), 1.9% Friday, 830am, Personal Income, 0.1$ Friday, 830am, PCE, 0.2% Friday, 945am, Chicago PMI, 52.4 Friday, 955am, Michigan sentiment, 74.1

Follow-up notes: IDCC, Interdigital. If still short, consider holding short for lower prices the next few days.

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Focus Chart: (Worden Telechart 2007-Download FREE on home page of www.TradeStocksAmerica.com.)

SHFL, Shuffle Master. Today’s drop of 2.63% was an important “marker” for further selling. We are looking for this short to hit the low $12’s; be flexible.

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) NSC, Northern Suffolk. Consider small short position. 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) DY, Dycom Industries. 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. 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) 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.

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Stock List Type

Notes Open Price Close

Price

CMGCMGCMGCMG, Chipotle Mex LONG-INT Closed all long position at 405, 236% avg. profit 163.49 367.18

MNST, MNST, MNST, MNST, Monster Bev. LONG-SWI Continues marching up in strong uptrend. 42.69 53.35

DLTRDLTRDLTRDLTR, Dollar Tree LONG-SWI Sold Friday for 5% profit. 97.50 102.35

IDCC,IDCC,IDCC,IDCC, Interdigital SHORT-SWI Stopped Monday for 12.5% profit. 27.31 24.2524.2524.2524.25

MO, MO, MO, MO, Altria LONG-INT Higher high on Monday. 31.82

FNGNFNGNFNGNFNGN, Financial Eng SHORT-SWI ReReReRe----entered short Thursdayentered short Thursdayentered short Thursdayentered short Thursday 20.5020.5020.5020.50

SFD, SFD, SFD, SFD, Smithfield SHORT-INT Covered short Friday for 5.4% profit. 19.40 18.48

SLF, SLF, SLF, SLF, Sunlife SHORT-SWI ReReReRe----entered short Fridayentered short Fridayentered short Fridayentered short Friday 21.94

LVLTLVLTLVLTLVLT, Level 3 SHORT-SWI Covered short Friday for breakeven. 21.55 21.55

LOGILOGILOGILOGI, Logitech SHORT-SWI Covered short Friday for breakeven. 10.32 10.24

RDC,RDC,RDC,RDC, Rowan Cos. SHORT-SWI Small short position. Hold time 2-3 more days. 31.68

RBC, RBC, RBC, RBC, Regal-Beloit SHORT-SWI Covered Friday for breakeven.Covered Friday for breakeven.Covered Friday for breakeven.Covered Friday for breakeven. 61.24 61.24

CHMT,CHMT,CHMT,CHMT, Chemtra SHORT-SWI Expecting to resume downtrend.Expecting to resume downtrend.Expecting to resume downtrend.Expecting to resume downtrend. 14.82 14.31

VCI, VCI, VCI, VCI, Volassis SHORT-SWI ReReReRe----entered short THursdayentered short THursdayentered short THursdayentered short THursday 20.5020.5020.5020.50

RRCRRCRRCRRC, Range Resourc SHORT-SWI Covered Thursday for 4% profit; consider covering 57.33 55.10

ADSK,ADSK,ADSK,ADSK, Autodesk SHORT-SWI Covered Thursday for 5.1% profit; cover Friday 33.18 31.5531.5531.5531.55

SHFL,SHFL,SHFL,SHFL, Shuffle Mast AGGSHORT Looking for low $12’s to cover 14.25

NBL, NBL, NBL, NBL, Nobile Energy LONG-SWI Stopped Thursday for Stopped Thursday for Stopped Thursday for Stopped Thursday for 5% loss.5% loss.5% loss.5% loss. 83.88 79.75

HLX, HLX, HLX, HLX, Helix Energy LONG-SWI Closed Wednesday for 2% loss. 15.77 15.4315.4315.4315.43

HUM,HUM,HUM,HUM, Human Health LONG-SWI Small long position. 78.81

TARO, TARO, TARO, TARO, Taro Pharm SHORT-SWI Small short position; should resume downtrend 37.3537.3537.3537.35

CNK, CNK, CNK, CNK, Cinemark SHORT-SWI Downtrend continuing. 21.6921.6921.6921.69

SODA, SODA, SODA, SODA, Sodastream SHORT-SWI Closed Wednesday for Closed Wednesday for Closed Wednesday for Closed Wednesday for 1% loss.1% loss.1% loss.1% loss. 34.79 35.1035.1035.1035.10

RHT, RHT, RHT, RHT, Redhat SHORT-SWI Covered short Friday with 2.2% loss. 53.41 54.34

BEAV,BEAV,BEAV,BEAV, BE Aerospace SHORT-SWI Small short position. 43.42

SNI, SNI, SNI, SNI, Scripps Netw LONGLONGLONGLONG----ININININTTTT Small long position.Small long position.Small long position.Small long position. 57.3157.3157.3157.31

SHW, SHW, SHW, SHW, Sherwin Will LONGLONGLONGLONG----INTINTINTINT Small long position.Small long position.Small long position.Small long position. 133.10133.10133.10133.10

COPCOPCOPCOP, ConocoPhillips LONGLONGLONGLONG----INTINTINTINT Stopped Thursday for Stopped Thursday for Stopped Thursday for Stopped Thursday for 5% loss5% loss5% loss5% loss 55.5055.5055.5055.50 52.7252.7252.7252.72

ORLY, ORLY, ORLY, ORLY, O’Reilly Auto LONGLONGLONGLONG----INTINTINTINT Small long position.Small long position.Small long position.Small long position. 101.75101.75101.75101.75

BKBKBKBK, Bank NY LONGLONGLONGLONG----INTINTINTINT Closed Friday foClosed Friday foClosed Friday foClosed Friday for r r r breakeven.breakeven.breakeven.breakeven. 21.0921.0921.0921.09 21.0821.0821.0821.08

RMDRMDRMDRMD, Resmed Health LONGLONGLONGLONG----INTINTINTINT Closed Friday for 3% loss.Closed Friday for 3% loss.Closed Friday for 3% loss.Closed Friday for 3% loss. 31.9631.9631.9631.96 31.0031.0031.0031.00

PXPPXPPXPPXP, Plains Explorat SHORTSHORTSHORTSHORT----INTINTINTINT New low Friday, should trend down.New low Friday, should trend down.New low Friday, should trend down.New low Friday, should trend down. 34.69

APC, APC, APC, APC, Anadarko Petro SHORTSHORTSHORTSHORT----INTINTINTINT Small short position.Small short position.Small short position.Small short position. 64.5264.5264.5264.52

FTIFTIFTIFTI, FMC Technology SHORTSHORTSHORTSHORT----ININININTTTT Small short position.Small short position.Small short position.Small short position. 41.0741.0741.0741.07

BCS, BCS, BCS, BCS, Barclays Bank SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 12.9312.9312.9312.93

OKEOKEOKEOKE, Oneok SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 43.5343.5343.5343.53

ASIAASIAASIAASIA, AsiaInfo SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 11.9411.9411.9411.94

WAG, WAG, WAG, WAG, Walgreens LONGLONGLONGLONG----INTINTINTINT Small long position.Small long position.Small long position.Small long position. 29.3329.3329.3329.33

HXLHXLHXLHXL, Hexcel SHORTSHORTSHORTSHORT----INTINTINTINT Small short position.Small short position.Small short position.Small short position. 24.3624.3624.3624.36

IAGIAGIAGIAG, IamGold SHORTSHORTSHORTSHORT----INTINTINTINT Small short position.Small short position.Small short position.Small short position. 11.8911.8911.8911.89

LAZLAZLAZLAZ, Lazard SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 25.3925.3925.3925.39

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IMAXIMAXIMAXIMAX, Imax SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 22.7222.7222.7222.72

JAZZ,JAZZ,JAZZ,JAZZ, Jazz Pharma SHORTSHORTSHORTSHORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 45.245.245.245.25555

Here are some highlights of comments and stock ideas from the LIVE Trading Room. Try a $1 trial for 1 week using this link: http://www.tradestocksamerica.com/trading-room.php

June 22, 2012

TSA Moderator Chat

[06:22 am] Ed : good morning traders

[06:34 am] Ed : watching IHS for potential short

[06:34 am] Mitch K: watching CNW for bottom to buy

[06:34 am] Mitch K: watching SXCI for top to short

[06:35 am] Mitch K: watching CB for top to short; take

time

[06:36 am] Mitch K: watching ROSG for short here

[06:36 am] Mitch K: watching FSLR for top to short

[06:37 am] Mitch K: watching SYNC for bottom to buy

[06:37 am] Mitch K: watching PXP for bottom to buy

[06:37 am] Mitch K: watching CTXS for top to short

[06:39 am] Mitch K: watching LTD for bottom to buy

[06:39 am] Mitch K: watching MS for bottom to buy

[06:40 am] Ed : if u took IHS short would cover

[06:40 am] Mitch K: watching RIG for bottom to buy

[06:40 am] Mitch K: watching ALGN for bottom to buy

[06:41 am] Mitch K: watching VRX for short

[06:41 am] Mitch K: watching COO for top to short

[06:42 am] Mitch K: watching M for bottom to buy

[06:42 am] Mitch K: watching NXPI for top to short

[06:43 am] Mitch K: watching ALGN closer

[06:43 am] Mitch K: watching OVTI for bottom to buy

[06:43 am] Ed : monitor FB for breakout with vol

[06:43 am] Mitch K: watching AMRN for bottom to buy

[06:44 am] Mitch K: watching ASH for top to short; take

time

[06:44 am] Mitch K: watching HAIN for top to short; take

time

[06:45 am] Mitch K: watching CE for bottom to buy

[06:45 am] Mitch K: watching RCL for bottom to buy

[06:46 am] Mitch K: argh, missed ARNA, watch for top to

short

[06:47 am] Mitch K: watching GNC for bottom to buy

[06:48 am] Mitch K: still watching TRMB for bottom

[06:48 am] Mitch K: watching CAM for bottom to buy

[06:49 am] Mitch K: watching FST for bottom to buy

[06:49 am] Mitch K: looking for $31 area on PXP; be

flexible

June 22, 2012 TSA User Chat [06:15 am] mikewd2 -: good morning traders [06:15 am] akram : Good Morning All [06:15 am] lisas : gm Mike, akram [06:21 am] gumroadboy : Good morning y'll, finish your grits before the market opens. [06:22 am] eddy : hello all [06:24 am] apple : good morning to all prepared traders [06:24 am] apple : gm eddy [06:24 am] apple : gm gum [06:24 am] apple : gm lisa [06:24 am] apple : gm akram [06:24 am] apple : gm mike [06:24 am] apple : gm E [06:24 am] mikewd2 -: apple in the house! [06:24 am] skydiver : gm all [06:24 am] eddy : hi apple [06:24 am] apple : DRI, CCL and CUK earnings today [06:25 am] eddy : CCL release earnings [06:25 am] lisas : gm apple [06:25 am] eddy : beaT anaylyst estimate by far and up guidance [06:25 am] apple : housing 10 am [06:26 am] mikewd2 -: UVXY might provide some good bounces today [06:26 am] qwert : good morning everybody [06:27 am] gub : waaaaah sup traders! [06:27 am] gub : the market! [06:27 am] apple : thx mike *** Mitch King, Welcome to the TradeStocksAmerica Live Trading Room [06:29 am] skydiver : watching R [06:31 am] mikewd2 -: PVH [06:31 am] garyb : Good morning everyone! [06:32 am] skydiver : gm gary [06:32 am] garyb : Skkkyyyyy Divverrr...alway think of that old 70s song [06:33 am] skydiver : lol! [06:33 am] skydiver : you're not that old gary :) [06:34 am] apple : skypilot [06:34 am] skydiver : right pilot! [06:34 am] skydiver : :) [06:34 am] apple : love you sky [06:34 am] eddy : watchin MS for long [06:35 am] apple : hey gary, we shoulld talk [06:36 am] cdougan : ARNA [06:36 am] skydiver : thnx apple :) [06:37 am] Ed : good eye cdougan [06:37 am] cdougan : sold quick [06:38 am] garyb : Hey apppllleee! [06:38 am] garyb : Just added to my UVXY position! [06:38 am] garyb : I feel like I am flying in a heavy bomber!

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[06:50 am] Mitch K: watching MAN for top to short

[06:50 am] Mitch K: watching COH for bottom to buy

[06:50 am] Mitch K: watching CFX for bottom

[06:52 am] Ed : consider redcuing some FB if u took long

[06:53 am] Mitch K: watching SYNC for bottom

[06:54 am] Ed : ONXX has resistance @ near 64.65 so

need STRONG vol for breakout

[06:54 am] Mitch K: watching BC for top to short

[06:56 am] Mitch K: took BMR off screen

[06:56 am] Mitch K: cant remember if i posted PVH

bottom but consider selling long and start watching for

top to short

[06:57 am] Mitch K: watching ILMN for top to short

[06:59 am] Mitch K: watching MAS for bottom to buy

[06:59 am] Mitch K: watching ALXA for bottom

[07:01 am] Mitch K: looking for 62.40 area on SLB to sell;

be flexible

[07:02 am] Mitch K: looking for 31.50 and higher on PXP;

be flexible, looks strong

[07:02 am] Ed : SPY trading at horozontal resistance

[07:03 am] Mitch K: too low vol on SYNC, consider selling

[07:04 am] Mitch K: A bouncing

[07:04 am] Mitch K: watching MCK for bottom to buy

[07:05 am] Mitch K: watching PVH closer

[07:06 am] Mitch K: watching CREE for top to short

[07:07 am] Mitch K: watching ILMN closer

[07:08 am] Mitch K: consider selling MS

[07:08 am] Mitch K: PXP toppy

[07:09 am] Mitch K: watching VMW for top to short

[07:09 am] Mitch K: monitor MS for short top of this

bounce

[07:10 am] Mitch K: consider reducing ALGN long, watch

for top to short; patient on the short, take time on short

[07:10 am] Mitch K: watching WNC for top to short, low

priced

[07:11 am] Mitch K: you should be out of SLB long

[07:11 am] Mitch K: CREE toppy

[07:12 am] Mitch K: watching MLNX for top here to short

[07:15 am] Mitch K: taking TRMB off screen

[07:16 am] Mitch K: watching RHT for top; early yet, take

time

[07:16 am] Mitch K: ALGn toppy

[07:17 am] Mitch K: looking for 67.50 area for ASH; be

flexible on covering, cover in increments

[07:17 am] Mitch K: start covering some ASH short

[07:18 am] Mitch K: more downside on HNR, consider

small short

[07:20 am] Ed : getting pullback in SPY

[07:22 am] Mitch K: looking for 51.80 area on HAIN

short; be flexible

[07:24 am] Mitch K: BC toppy

[06:39 am] mikewd2 -: GMCR [06:43 am] skydiver : all out of PVH S - thnx mike [06:46 am] mikewd2 -: yeah, i got that on too [06:47 am] skydiver : :) very nice mike - owe you one!! [06:47 am] garyb : Mike do you still have UVXY? [06:47 am] apple : selling off on the market after the open [06:48 am] mikewd2 -: yes [06:48 am] skydiver : thnx apple [06:48 am] mikewd2 -: garyb: but only the covered calls shares [06:48 am] skydiver : FDX been dropping steady [06:49 am] skydiver : wow PVH had quite the spike up [06:53 am] qwert : thx for fb ed [06:53 am] jsn13 : Out all FB long thanks Ed.... [06:56 am] apple : yes you did MK, thx [06:57 am] skydiver : looks like a double top on PVH [06:59 am] apple : looking at MAS [07:01 am] go4it : very nice cdougan! [07:05 am] eddy : test [07:05 am] Ed : i see you eddy [07:06 am] eddy : k [07:06 am] eddy : MS [07:08 am] mikewd2 -: nice call eddy [07:11 am] jsn13 : IHS consolidation in tight range... [07:11 am] jsn13 : *consolidating [07:13 am] mikewd2 -: tech stocks seem strong today [07:16 am] scalpman : OUt 1/2 PVH S [07:20 am] mikewd2 -: moved stop on PVH S to trailing [07:22 am] apple : good job mike and scalp [07:22 am] Ed : nice going scalp/mike [07:28 am] apple : about 40 ideas so far... [07:34 am] apple : thx E [07:38 am] scalpman : All out PVH S [07:38 am] scalpman : HIt my low target... [07:38 am] apple : great job scalp [07:38 am] skydiver : Been a good week -- short day today and have to go. Have a great week-end all. Nice scalp on PVH ;) [07:39 am] apple : have fun sky [07:39 am] skydiver : :) [07:43 am] scalpman : out 1/2 CCL L [07:47 am] scalpman : All out CCL L ...I botched my OCO...oh well. [07:47 am] scalpman : Thanks apple [07:48 am] scalpman : bye Sky [07:48 am] apple : amrn [07:49 am] scalpman : ED: can you look at the bottom of ALGN [07:50 am] Ed : 1 sec [07:50 am] mikewd2 -: dang, was entering order on MNST - and it jumpd [07:50 am] apple : STT [07:51 am] scalpman : I entered 9:45 opn green bar...but got stopped below low...and then missed rebound... [07:52 am] mikewd2 -: looked like a good entry scalp [07:53 am] victor51 : Missed MNST by 2 cents. Well thats part of game [07:53 am] scalpman : My stopp was too at the lower of the previous wick.. [07:54 am] apple : next time victor [07:54 am] Ed : that happens Scalp, still great entry though, just so happens u got stop, what u do in that case is take breathere and see what other opps are out there it just so happens gave anothe good entry bottom at 9:49 [07:54 am] scalpman : but it popped down, got me out, and the rebounded. [07:54 am] scalpman : Yes, it took me 3 or minutes to calm down...and then I missed the rebound. [07:55 am] Ed : It happens to all traders no matter how solid ur plan is

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[07:25 am] Mitch K: starting to monitor CCL for bottom,

companion to RCL, ROyal Cruise lines

[07:27 am] Mitch K: consider selling SYNC

[07:28 am] Mitch K: more downside on MAN short

[07:29 am] Mitch K: looking for 13+ on MAS long

[07:29 am] Mitch K: consider selling PXP

[07:30 am] Mitch K: PVH could drop to 79; be flexible on

short; remember market is going down

[07:30 am] Mitch K: MLNX toppy for short

[07:31 am] Mitch K: VMW a little on the bullish side on

this short

[07:31 am] Mitch K: could see new lows on SLB if you

shorted on top of that bounce

[07:32 am] Mitch K: watching LAZ for bottom

[07:33 am] Ed : if you took ONXX long on breakout would

reduce some here

[07:35 am] Mitch K: watching ALV for bottom to buy

[07:35 am] Mitch K: looking for lower on ARNA if you are

short but gradual covering is good

[07:36 am] Mitch K: little bounc ein SPY starting, will

bring up your longs or most stocks

[07:37 am] Mitch K: watching TX for bottom to buy;

[07:37 am] Mitch K: consider covering WNC

[07:39 am] Mitch K: starting to watch NUGT for bottom

[07:40 am] Mitch K: lower low on SPY

[07:40 am] Mitch K: VMW breaking down afterall

[07:40 am] Ed : SPY trading at lod

[07:41 am] Mitch K: NXPI turning over

[07:42 am] Mitch K: watching ROK for bottom

[07:42 am] Mitch K: watching MNST for bottom to buy

[07:46 am] Mitch K: consider reducing ASH short

[07:46 am] Mitch K: consider reducing ARNA short

[07:46 am] Mitch K: consider reducing HAIN short

[07:47 am] Mitch K: watching PAAS for bottom to buy

[07:48 am] Mitch K: watching AMRN for bottom to buy

[07:49 am] Mitch K: watching STT for bottom to buy

[07:49 am] Mitch K: watching ALV for bottom to buy

[07:50 am] Mitch K: watching RGLD for bottom

[07:52 am] Mitch K: watching H for top to short

[07:56 am] Mitch K: ALV bouncing

[07:56 am] Mitch K: watching AMRN closer

[07:58 am] Mitch K: watching TROW for top; take time

[07:59 am] Mitch K: expecting AREX to drip down

[08:07 am] Mitch K: watching DANG for bottom to buy

[08:35 am] Ed : SPY trading in small range

[08:47 am] Mitch K: watching UVXY for bottom to buy

[08:48 am] Mitch K: looking for $12.85 area on AMRN,

be flexible

[08:50 am] Mitch K: monitoring ZMH, no trade yet, just

watching

[08:51 am] Mitch K: monitoring CNK for bottom

[07:56 am] scalpman : I think the brief lower low is an "exhaustion" sell, it uses them all up. and set the stage for the reversal [07:56 am] scalpman : Brooks in his books calls that something, I can't remember [07:56 am] Ed : thats why u must live in the now, u did the right thing about calmin the nerves, now what u do is study this chart and see how u can improve and see where u were right on [07:56 am] scalpman : The question is how much room to give the stop... [07:57 am] Ed : Its a flushing if u will, sometimes u get, sometimes not [07:57 am] apple : MRK moving [07:57 am] scalpman : very good... [07:57 am] jsn13 : Entered MNST at 10.45am 73.80, out half at 74.09 and 2nd half at 10.55am 74.65....thanks mitch.... [07:57 am] scalpman : Any way....for 10am on...I made good trades and recoups loss. I am slightly green....and smarter [07:58 am] apple : good job jsn [07:58 am] apple : good job scalp [07:58 am] Ed : personal preference, example I still stick with placing few cents below lod, but someone like Mitch would not have been stopped, If I took the trade where u did, I would have been stopped [07:59 am] Ed : See, I dont mind though cuz I know at end of day,week,month,year, my winners will more than make up for the lossers or the smalll stuff like that trade not working [08:00 am] scalpman : Yes...I see, [08:00 am] scalpman : thanks apple [08:01 am] jsn13 : thanks apple... [08:02 am] Ed : See it is truly about mindset, emotions, once ur able to take small losses and move on withought being emotionally attached to what happened in past, ur able to focus on setups and opportunities [08:02 am] apple : ain't that the truth, E! [08:04 am] Ed : My CPA has this on her voicemail, "for every negative thought there is a positive tought, focus on the positvie" [08:04 am] apple : ditto [08:05 am] jsn13 : Chief Personal Assistant or Certified Public Accountant? haha... [08:05 am] apple : good one jsn [08:06 am] Ed : good one, my tax person [08:08 am] eyes %: Get to work stop Playing LOL [08:09 am] apple : is that eyes, or someone else? [08:09 am] qwert : eyes is tha u [08:09 am] eyes %: It is I how is everyone [08:10 am] Ed : hey eyes [08:10 am] qwert : new nickname ha [08:10 am] scalpman : CCL Tanking down [08:10 am] apple : missing you eyes, he always reinvents himself -- i like that [08:10 am] scalpman : any neews on CCL [08:11 am] lisas : Hey Eyes, like the newer you! [08:11 am] Ed : they had earnings release premarket I think [08:11 am] apple : you are in iowa, now? [08:11 am] apple : at 10 am E [08:11 am] eyes %: yes for a while [08:12 am] qwert : Ed did you ever get onxx on the breakout? [08:12 am] Ed : yes [08:12 am] qwert : nice i had it up and still missed haha [08:13 am] eyes %: I went and bought a verison 2 Gb data so i can chat [08:13 am] qwert : on your phone [08:14 am] eyes %: ipad [08:14 am] qwert : wow cool [08:14 am] qwert : what app are you using to run the room on [08:14 am] jsn13 : missed IHS breakout... [08:15 am] eyes %: omnovia web conference mobile

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[08:56 am] Mitch K: CNK bouncy off 21

[09:55 am] Ed : monitoring LIFE for potential short take

time would like move to 43.8ish area

[10:01 am] Mitch K: watching URBN for bottom, trading

for crumbs

[10:20 am] Mitch K: watching MLNX for 2nd helping

short

[10:37 am] Mitch K: earlier

[10:37 am] Mitch K: hope you guys got AMRN long

[11:01 am] Ed : getting bounce in SPY

[11:13 am] Ed : use smaller than normal position size if it

setsup

[11:25 am] Ed : IHS still strong

[11:34 am] Ed : nice bounce in SPY

[12:06 pm] Ed : out all IHS short

[12:25 pm] Ed : getting pullback in SPY

[01:01 pm] Ed : have an awesome weekend

[08:15 am] qwert : cool any delays or hiccups [08:16 am] eyes %: not as of yet the only thing i cannot figure out how to see EDs and Mitch post just chat room [08:17 am] eyes %: just the one on bottom of chart [08:18 am] qwert : okay i have run it on iswifter and get the whole room if you want to try that [08:18 am] scalpman : TROW broke through resis. [08:19 am] scalpman : ...weakly [08:19 am] scalpman : trying again...may have another leg up [08:19 am] qwert : watching RHT [08:22 am] scalpman : qwert RHT S @ 54.02 [08:27 am] qwert : scalp i ended up not taking because i thought to close to support [08:27 am] scalpman : Stopp b.e. on RHT...stopped... [08:28 am] scalpman : lots of support at 523.90 [08:28 am] scalpman : 53.90 [08:28 am] scalpman : and of course it now dropps...arrrrrgh [08:29 am] qwert : sorry scalp [08:30 am] eyes %: do i have to buy it QWERT [08:30 am] scalpman : well not a loss...at it still holds at .90...I think may still break at some point. [08:31 am] qwert : i think i got it free eyes have had it for a while [08:31 am] qwert : maybe a 1.00 [08:32 am] eyes %: thanks [08:32 am] qwert : so far the only way i have been able to run adobe flash on the ipad [08:35 am] eyes %: How are you doing Apple [08:39 am] apple : great [08:40 am] eyes %: good to hear [08:42 am] qwert : nice call on AMRN mitch thx [08:45 am] jsn13 : qwert, ho do u trade AMRN? where is ur entry? [08:45 am] jsn13 : *how [08:47 am] qwert : at 11:00 est [08:47 am] qwert : 12.40 only 6 cent risk to low [08:48 am] garyb : I like your style Mitch! Gooo UVXY! [08:48 am] eyes %: nice [08:49 am] garyb : Who's cheering for Germany today?? [08:50 am] eyes %: see you all later [08:50 am] apple : taking a break, robert just got up -- ahhhh, summer vacation.... it's great to be 10. need to fix breakfast... [08:51 am] jsn13 : ok thanks qwert....if u have time can u explain abit on why u take it long even it shows steady downtrend....thank.... [08:53 am] scalpman : Qeqrt RHT [08:54 am] scalpman : Qwert [08:54 am] qwert : at support on daily and very small risk also finally 2nd green candle on 2 min [08:54 am] qwert : hahaha onrht [08:56 am] scalpman : RHT re-entry @ 53.97 [08:57 am] scalpman : Might break to 53.50 200 ema [08:58 am] jsn13 : thanks qwert...it also broke the downtrend line....nice explanation.....have u out half on AMRN? [09:02 am] scalpman : stopped in the green...All told a whopping $31.65 on RHT...I should read book instead [09:02 am] scalpman : .i.e. probablynot the best trade. [09:03 am] scalpman : Time to go folks...a green day....and and green week. [09:03 am] Ed : yes, SPY in tight range [09:04 am] qwert : nice scalp have a great weekend [09:04 am] scalpman : I proved once again, that I have to forgo the first 45 minutes... [09:04 am] scalpman : I am not adept in that pace.. [09:04 am] Ed : green is good [09:05 am] cdougan : nice work scalp [09:05 am] scalpman : Yes...please about that after a rough week before... [09:05 am] scalpman : Tanks dougan

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[09:06 am] scalpman : thanks qwert and mike. good ideas...and of course Mitch and ED. [09:06 am] scalpman : See you all Monday... [09:06 am] jsn13 : at least u try scalp....have a great day.... [09:06 am] Ed : c ya scalp [09:06 am] scalpman : Thanks apple. You are always encouraging. [09:07 am] scalpman : One more thing...I am trying to post entries...and follow my trades actions. Don't know that is helpful...as you are all watching your own stuff. [09:08 am] scalpman : And I know we all like to put out a price when our trade is well in the green...so that we look good. [09:08 am] cdougan : Hey Ed, Had a question on HNR when you have a moment [09:09 am] Ed : i am free [09:09 am] scalpman : but I think it is a better discipline to post your actions if you can. I'd like to see what you trade and jump on board if an opportunity arises [09:09 am] scalpman : give it some thought. [09:09 am] cdougan : Looking at this intraday reversal.... [09:10 am] cdougan : seemed like a high probability short [09:10 am] scalpman : Scalpman has left the building! [09:10 am] cdougan : wondering if the reversal was easy for you to see and look to get long. Or if it was more of a lower probability trade. [09:11 am] lisas : bye all, heading out of town, have a great weekend! [09:11 am] Ed : yes, prices 10 and under u can use single numbers as potential support/resistance and it has been having trouble with that 9ish price [09:12 am] Ed : So, when open had issues with 9, and it also bounced off of that 8ish area [09:13 am] Ed : so provided both long/short opportunities [09:14 am] cdougan : yes. I could see the short. But wasn't flexible enough to start hinkong long when it couldn't break down below 8.20 ish [09:14 am] Ed : so keep thos factors in mind, for me it would be high probablity short this am, and when sold off down to 8ish area for potential long [09:14 am] cdougan : ok thank-you [09:15 am] Ed : right 8.05 was lod, but even with using those single digit numbers as potential support/resitance u want it to setup for you a signal [09:15 am] Ed : safe travels lisa [09:16 am] Ed : It takes some practice to learn to be flexible [09:17 am] cdougan : yes. Especially for thos gap plays when I look at them in the AM. [09:17 am] cdougan : I have something that I think... what happens is usually a different story [09:17 am] Ed : ARNA that u pointed out early was great one as well as the numbers coinciding with ma on daily [09:18 am] cdougan : yeah that was a good one. I wal looking it for it to bounce of premarket lows. [09:18 am] Ed : I agree, I think I am superman, then reality sets in [09:18 am] cdougan : instead it sold off hard and there were some good trading opps [09:18 am] Ed : yes [09:19 am] cdougan : ha yes. my expectations get in teh was of looking at it objectively. [09:19 am] cdougan : get in the way rather [09:20 am] jsn13 : Ed, did u make any trade on ARNA? did u manage to ge the short below the premarket low? [09:20 am] Ed : it happens, have to work on getting those cold veins when it comes to trading [09:20 am] Ed : did not trade it, was busy with others [09:21 am] cdougan : thanks for your insight Ed [09:21 am] jsn13 : the thing is that do we have enough time to

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execute the short? dropped 3.50 in 1 min....how bout the bounce?did u trade it? [09:22 am] cdougan : It sold off really fast Jsn. [09:23 am] cdougan : the bounce and then the short of the bounce seemed like they were actionable trades. [09:23 am] cdougan : or were actionable trades. [09:24 am] Ed : did not see chart until 9:37 [09:26 am] jsn13 : ok thanks....cdougan, it looks like there were some opportunities....but abit too risky for me.... [09:27 am] cdougan : Thats all for me. Thanks everyone for the calls. And have a great day. Good luck with the rest of the day. [09:27 am] Ed : c ya cdougan [09:28 am] jsn13 : bye cdougan... [09:49 am] eddy : ARNA [09:56 am] qwert : PVH consolidation for 2 hours tight range [09:58 am] apple : ready for a breakout? [09:58 am] apple : SPY same [09:58 am] qwert : got alerts set both ways [09:59 am] apple : i need to set alerts in TS [10:00 am] qwert : apple you like ts better than lightspeed [10:00 am] apple : yes, so far, new stuff to learn, love the desktops and workspaces, actually [10:00 am] apple : right now, looking how to put in alerts [10:01 am] qwert : can you execute orders the same way and use hot buttons to bump [10:01 am] apple : i am using the matrix right now [10:02 am] mikewd2 -: i use the matrix mostly apple, but did do chrt trading today also [10:02 am] qwert : is that trading off the chart im not familiar with ts at all [10:02 am] apple : haven't gotten there yet mike. how do i set an alert? [10:02 am] apple : SFLY hod [10:03 am] mikewd2 -: from chart or ? [10:03 am] mikewd2 -: in chart - i add horiz line and place alerton it [10:03 am] mikewd2 -: you can on trendlines, etcetc. [10:04 am] apple : i see it's under format... i was looking for it to say alert, thx [10:20 am] mikewd2 -: FST pushing 7, nice recovery from lod [10:25 am] jsn13 : FB breakout...above 33....missed it... [10:25 am] apple : everything a little flat this afternoon [10:28 am] apple : i keep forgetting to ask, i can only see about a third of the MLNX chart, how can i adjust it [10:29 am] mikewd2 -: middle button unde desktop sharing [10:29 am] mikewd2 -: fit, no fit button [10:31 am] apple : still have some gray space above, is that correct [10:33 am] Ed : sorry apple, can't help, I only understand woman and stocks [10:33 am] apple : lol, you know, that's all you need E!!!! [10:33 am] Ed : lol [10:36 am] jsn13 : ed, what a nice breakout in FB...did u get it? [10:36 am] Ed : I still had 1/4 left from breakout this am [10:37 am] apple : @ym [10:38 am] apple : wrong screen [10:38 am] jsn13 : U knwo what is patience when u knwo that ed is still holding his last 1/4 from am.... [10:38 am] jsn13 : *know [10:38 am] Ed : I tend to forget my last 1/4 at times, thats when it really pays off, if I pay attent Im out [10:38 am] jsn13 : good trade ed....i took all of in the am...thanks ed... [10:39 am] qwert : same here better to just look every 30 mins or so [10:39 am] Ed : u know they say the Lord looks after fools sometimes also, not calling myselff fool just speaking in general [10:40 am] apple : haha, true... [10:43 am] qwert : yep thx mk

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[10:47 am] murano : LCC [10:50 am] apple : thx murano [10:57 am] jsn13 : haha agree ed.... [10:57 am] jsn13 : qwert do u still have half position iin AMRN long? working very well... [10:58 am] qwert : 1/4 left on amrn [10:59 am] victor51 : Murano, I was looking for trade but missed it. What scanner do you use [10:59 am] jsn13 : may i know where do u took off ur 1/2 and 1/4? [10:59 am] murano : Lightspeed [11:00 am] qwert : 1/2 at 1% and 1/4 at vwap [11:01 am] jsn13 : well done qwert! thanks.... [11:01 am] qwert : murano which scanner on lightspeed [11:02 am] murano : Ticker alert [11:02 am] qwert : nice do you have it filtered [11:03 am] murano : I use two boxes, one for risers and one for fallers [11:04 am] qwert : thx [11:08 am] qwert : murano, i have that scan on to but sometimes goes to fast trying to not get so many alerts [11:09 am] murano : I look for back to back prints and then check for increase in volume [11:11 am] qwert : okay thx [11:12 am] murano : You will see more back to back prints if you split it into two boxes [11:12 am] qwert : okay will try that thx [11:14 am] murano : IVN [11:19 am] apple : TS is driving me crazy. what is the symbol for the VIX -- it's not$VIX [11:21 am] aussie123 : Apple I use the VXX [11:24 am] apple : sounds good, thx aussie [11:32 am] garyb : or UVXY apple if you want to make it more exciting! lol [11:37 am] garyb : You might need to pay for the DATA feed Apple....the symbol in Tradestation is $VIX.X [11:41 am] apple : we are in a bad storm, and i am losing connection here. thx MK, E and everyone. all have a great weekend. [11:41 am] Ed : c ya apple [11:41 am] qwert : bye apple have a great weekend [11:45 am] garyb : Bye apple! [11:45 am] qwert : Ed have you traded ihs [11:46 am] Ed : yes not looking for much [11:47 am] qwert : yeah spy not helping [11:47 am] Ed : exactly [11:53 am] Ed : the long had more money on IHS, jason was supposed to be wathching for us on breakout [11:59 am] qwert : there goes ihs :) [12:00 pm] Ed : finally got the drop [12:05 pm] Ed : too funny last 1/4 is for the impatient [12:06 pm] skydiver : thnx Ed for IHS - jumnped on at 107.33 - went against me for a bit, but came down -- thnx :) out Short [12:07 pm] Ed : nice trading sky [12:07 pm] skydiver : was sweating it a bit -- a bit :) [12:07 pm] jsn13 : haha i missed it either....got tricked and lost some money on short b4 it broke out.... [12:08 pm] Ed : u can change ur pants to sky, been there b4. LOL [12:08 pm] skydiver : ha ha Ed :) [12:08 pm] skydiver : yeah - wiping my brow too!! [12:08 pm] Ed : lol [12:09 pm] jsn13 : but overall today was a good day for me.....had 7 trades....4 winners, 3 losers(2 tiny losers).....best day of the week.... [12:11 pm] Ed : nice going jason, just have to work on being more consistent and getting that win % up [12:11 pm] Ed : its like gold, always working on the game [12:11 pm] Ed : gold=golf

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[12:11 pm] jsn13 : thanks ed....reduce my number of trades and had better result.... [12:12 pm] Ed : only told you like 1.......................times lol [12:13 pm] eyes %: hy guys and gals [12:13 pm] jsn13 : now that i learned more, the turning points for both reversals and breakouts look more obvious..... [12:13 pm] Ed : hey eyes [12:13 pm] Ed : just never anticipate [12:14 pm] jsn13 : yup...check all the compoenents that u taught me and see if i have the edge.... [12:14 pm] Ed : thx for ur pressence eyes [12:14 pm] skydiver : hey eyes [12:14 pm] Ed : and the room clapped bcuz eyes is here [12:15 pm] jsn13 : juz focus on very high probability trades... [12:15 pm] Ed : right [12:18 pm] Ed : this is what I said 3 years ago [12:18 pm] Ed : and now [12:19 pm] Ed : I think Im having too much fun [12:22 pm] victor51 : Jason, Nicely day. i came late and just took some good trades and some mediocare [12:25 pm] jsn13 : Ed, may i knwo where u entered IHS short?learning to see how u evaluate shorts thta broke new high.... [12:27 pm] jsn13 : from what i learned from u, i might take it short 2.34 bar...then i would have 3 signals....to confirm the top.... [12:27 pm] Ed : 2:33est, normally I do not short new 52w, highs, this one was barely new 52w high, so was small on size [12:29 pm] Ed : as long as ur getting topping action u have a chane at getting entry does not have to be same as mine [12:31 pm] Ed : good entry [12:36 pm] victor51 : Ed what do you contribute to your perfect short entry st 2:33 [12:37 pm] jsn13 : ok i see...did not take it short...cos i think the profit potenital is not as big as i want....thanks for the eplanation... [12:38 pm] Ed : would not call it perfect entry [12:38 pm] jsn13 : but i like ur entry ed, u had good price entering at that bar.... [12:39 pm] jsn13 : greatly improve ur risk to reward ratio... [12:39 pm] Ed : but as far as my entries it has to do with me seeing the action, and if I see setup, I take a position withought any hesistation [12:40 pm] Ed : So, more than anything that is my key, no thinking, just acting when I see patterns [12:41 pm] jsn13 : so the left brain is not allowed to work? [12:41 pm] Ed : And when I am wrong, Im wrong small, I dont sit and hope, if it feels like its going against me, Im out [12:42 pm] Ed : Right brain helps in keeping with structure of my strategy, plan [12:42 pm] victor51 : Ed, But how did you know that higher high at 11:32 was the last one [12:43 pm] Ed : but right by allowing left brain to take over with visuals of charts and what I see cuts down on time for say person on opposite side of trade who has to think about the trade [12:43 pm] Ed : I dont know [12:43 pm] Ed : Thats where placing stop, puttin on trade comes in, [12:45 pm] Ed : Its just fact that I have seen this chart also 1000;s of times, this one in particular is topping action, so I look for clues, How is stock positioned on daily, how is price moving, is it moving with without vol. [12:46 pm] Ed : I wish I could tell u if a trade would work, but I trade in probabilites [12:47 pm] Ed : I would not have had 3 lossers today of my 14 trades [12:47 pm] skydiver : excellent lesson Ed :) [12:48 pm] go4it : Thank you Ed [12:49 pm] Ed : See as an example my 3 trades I lost on avg $71. So, I know if I stick with trading plan, take all opportunities that show

12

up, my winners will more than make up for my lossers [12:51 pm] Ed : Also, when I go into a trade wherever my stop is say its a .30 stop and Im trading 1k shares, Im thinking this trade is costing me $300 to find out if it will work out. I enter the trade and manage it based on what market is offering [12:51 pm] skydiver : I like your thinking Ed . . . need to work on that :) [12:52 pm] victor51 : hanks ED. Pricing Vs volume is very tricky. [12:52 pm] Ed : So, if I get stopped, no biggie, it cost me $300 to find out. Now at night I will see how can I improve on that as well as my winners [12:53 pm] qwert : good bye everyone have a great weekend cya all monday morning, thx for all the great calls this week [12:53 pm] Ed : It is Victor, thats why when u see for example trades we take or talk about go back and study and see how those patterns look. Study them as much as you can, ie toppy action, reversals, breakouts,etc [12:53 pm] Ed : see ya qwert [12:54 pm] skydiver : bye qwert - have a great week-end [12:55 pm] Ed : now that 2nd opportuinty, I missed on IHS see how it setup for 2nd short u got that lower high [12:56 pm] Ed : And it offered lot more than the 1st short,1st one was little tougher, but not 2nd one [12:58 pm] Ed : wish we had more time IHS nice setup for potential long [12:58 pm] Ed : no time though [12:58 pm] Ed : only 2min left [01:00 pm] jsn13 : thanks ed for the lesson and bye guys....have a great weekend.... [01:00 pm] Ed : see Victor,others thats what u study, alll these charts [01:00 pm] victor51 : Ed, I will study with a use of magnifying glass for today's trades [01:00 pm] Ed : lol [01:00 pm] skydiver : thnx Ed - more studying time this week-end on charts :) See you all Monday [01:01 pm] Ed : c ya sky [01:03 pm] victor51 : Thanks Ed for great learnings and lot more to come. Good night everyone.

SWI (SWING): 2-7 days INT: Intermediate term position 8 days to several months. Open Price: price paid on opening long 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 action or watch closely, no color usually were stocks just finished trading or are watching. Realize that opinions about stock ideas 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 general guidelines as to how I am approaching a particular stock and conditions may change during the next trading day that ay cause a change 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 want to gradually move into this sector and eventually build full size long positions in them that may be swing trades lasting for days or intermediate 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 against you. 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 margined 2 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 higher amount of money you are working with, the smaller percentage of money you can afford to trade in one stock position. The main reasons 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.

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Thoughts: Best odds only, be decisive, aggressive, mentally flexible, stay in position size, don’t overtrade and wait a little longer to buy and 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 force anything to work for you, let the setups develop and then take advantage of that. Be patient. Stay in position sizes without letting any intraday trade represent no more than 10-15% of your total account value. As you build your account, your position size percentage should 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 they are stops “just in case” a disaster news event hits the stock. When you follow the technical indicators as I show you on the intraday scalping tutorials, rarely will a stop loss be hit. The indicators can be used with uncanny accuracy as a forecasting tool so don’t set your 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 they follow 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 calm manner. 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 the next 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 coming years. When several stocks from the same sector are listed, like from the housing industry or steel industry for example, don’t short all of them unless 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 is good for various financial investments. He would describe that we are in Stage II of the business cycle which is positive for bonds and stocks but negative for commodities. Sometime in late 2011, we probably approach Stage 3 business cycle with rising inflation and interest 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, Achelis Technical Analysis for the Financial Markets, John Murphy.

Put the odds in your favor and have a great day!

Mitch King and staff

TradeStocksAmerica.com. Contents: online stock trading, trading strategies, stock picks, stock market education, stock market investing course, educational stock trading 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 to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at the time 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 the opportunity 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 to accept the risks when investing or trading in any financial markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.