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Daily Stock Report Friday Morning, June 22, 2012

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US stocks took a sharp decline today after hearing during market trading that a rating organization was going to downgrade 15 major investment banks after the market today [Thursday]. We also saw the Fed did not announce any plans for further easing on yesterday’s announcement. The banks that were downgraded lost 1-2 levels of ratings but were up after market because the selloff was overdone during regular market hours. Normally this type of selling marks the top for some weeks to come and stocks tend to work in a downward trend after having this much of a drop and this type of news. About 77% of stocks declined today with indexes down 2 to 2.45%. The jobless claims fell slight but the four week average rose to a 2012 high; the Purchase Managers Index showed manufacturing grew at its slowest pace in 11 months as hiring slowed and demand dropped. We also saw home sales fell in May as prices rose which puts a question mark over the real estate rebound. Goldman Sachs said today that growth is likely to be very weak for the remainder of the year. There just isn’t a lot of good news events that could drive the market up except for a change 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. 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 The short positions are likely to outperform the longs over the coming two weeks. Consider some of the shorts on the list below, keep positions small. They may last for a couple of weeks.

Calendar (All Eastern times) Monday, 1000am, NAHB Housing Index, 28 Tuesday, 830am, Housing Starts, 719K Tuesday, 830am, Building Permits, 725k Wednesday, 7:00am, MBA Mortgage Index, 18% Wednesday, 1030am, Crude Oil Inventories, -0.111M Wednesday, 1230pm, FOMC Rate Decision, 0.25% Thursday, 8:30am, Initial Claims, 380,000 Thursday, 830am, Continuing Unemployment Claims, 3.278K Thursday, 1000am, Existing Home sales, 4.56M Thursday, 1000am, Philadelphia Fed, -0.2 Thursday, 1000am, Leading Indicators, 0.0% Thursday, 1000am, FHFA Housing Price Index, 1.8%

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) 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) HXL, Hexcel. Consider small short position. IAG, Iamgold. 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) 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

HGG, HGG, HGG, HGG, HH Gregg SHORT-SWI Covered short Friday for breakeven. 10.30 10.25

STLD, STLD, STLD, STLD, Steel Dynamic SHORT-INT Stopped Wednesday for 6% loss. 10.41 11.00

VRSK, VRSK, VRSK, VRSK, Verisk Analyt SHORT-INT Covered short Friday with 4 % loss. 46.51 48.34

WBC, WBC, WBC, WBC, Wabco Hldgs SHORT-INT Stopped Tuesday for Stopped Tuesday for Stopped Tuesday for Stopped Tuesday for 5% lo5% lo5% lo5% loss.ss.ss.ss. 50.64 53.0053.0053.0053.00

SLF, SLF, SLF, SLF, Sunlife SHORT-SWI Covered short Friday with slight loss. 21.30 21.42

AFLAFLAFLAFL, Aflac SHORT-SWI Covered short Friday with 1.5% loss. 41.20 41.86

PANL, PANL, PANL, PANL, Univ. Display SHORT-SWI Stopped Tuesday for Stopped Tuesday for Stopped Tuesday for Stopped Tuesday for breakeven.breakeven.breakeven.breakeven. 31.03 31.0331.0331.0331.03

ROSTROSTROSTROST, Ross Stores SHORT-SWI Closed Thursday for 2.9% profit; rererere----enter lowerenter lowerenter lowerenter lower 61.80 64.50

UGP, UGP, UGP, UGP, Ultrapar Paricipa SHORT-SWI Stopped Tuesday for 4% loss.Stopped Tuesday for 4% loss.Stopped Tuesday for 4% loss.Stopped Tuesday for 4% loss. 20.70 21.5521.5521.5521.55

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

CENX, CENX, CENX, CENX, Century Alum LONG-SWI Covered short Friday for Covered short Friday for Covered short Friday for Covered short Friday for breakeven.breakeven.breakeven.breakeven. 7.09 7.107.107.107.10

NBL,NBL,NBL,NBL, Nobile Energy LONG-SWI Small long position. 83.88

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

RYN, RYN, RYN, RYN, Rayonier SHORT-SWI Covered short Friday with Covered short Friday with Covered short Friday with Covered short Friday with slight loss.slight loss.slight loss.slight loss. 43.0243.0243.0243.02 43.20

CNK, CNK, CNK, CNK, Cinemark SHORT-SWI Downtrend continuing. 21212121.69.69.69.69

FFIV, FFIV, FFIV, FFIV, F5 Network SHORT-SWI Covered short Friday for breakeven. 101.43 101.17

VAR, VAR, VAR, VAR, Varian SHORT-SWI Covered short Friday for breakeven. 59.53 59.6859.6859.6859.68

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----INTINTINTINT 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 ThursStopped ThursStopped ThursStopped Thursday for day for day for day 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

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BKBKBKBK, Bank NY LONGLONGLONGLONG----INTINTINTINT Consider selling Friday.Consider selling Friday.Consider selling Friday.Consider selling Friday. 21.0921.0921.0921.09

RMDRMDRMDRMD, Resmed Health LONGLONGLONGLONG----INTINTINTINT Consider selling Friday.Consider selling Friday.Consider selling Friday.Consider selling Friday. 31.9631.9631.9631.96

PXPPXPPXPPXP, Plains Explorat SHORTSHORTSHORTSHORT----INTINTINTINT Small short position.Small short position.Small short position.Small short position. 34.6934.6934.6934.69

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----INTINTINTINT 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 SHSHSHSHORTORTORTORT----SWISWISWISWI Small short position.Small short position.Small short position.Small short position. 11.9411.9411.9411.94

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 21, 2012 TSA Moderator Chat [07:17 am] Mitch K: looking for 10.70 area on NIHD, be flex, hard to tell how far of bounce on this [06:52 am] Mitch K: looking for 8.80 area to cover KEG, be flexible [11:56 am] Ed : holding last 1/4 short GCI will trail stop [11:56 am] Ed : covering 1/4 GCIshort [06:27 am] Mitch K: hi ladies [06:27 am] Ed : good morning Traders [06:32 am] Mitch K: watching PENN for short [06:33 am] Mitch K: watching SODA for top to short [06:33 am] Mitch K: soon [06:33 am] Mitch K: watching RHT for top to short [06:33 am] Mitch K: watching COST for top to short [06:33 am] Mitch K: watching BBBY for bottom, , trying below 63 [06:34 am] Mitch K: watching PVH for top to short [06:35 am] Mitch K: watching SWKS for bottom to buy [06:35 am] Mitch K: watching DCI for bottom [06:35 am] Mitch K: watching ECA for bottom to buy [06:36 am] Mitch K: watching KEG for top to short, top of this bounce, dont forget this [06:36 am] Mitch K: monitoring CIG [06:37 am] Mitch K: watching ZNGA for top to short [06:37 am] Mitch K: watching KORS for top to short [06:37 am] Mitch K: watching WSM for top to short [06:38 am] Mitch K: watching SYNC, ALR for bottom [06:38 am] Mitch K: watching UA for bottom to buy [06:38 am] Mitch K: watching FB for short [06:39 am] Mitch K: watching NIHD for bottom to buy [06:39 am] Mitch K: watching HAL for bottom [06:40 am] Mitch K: watching VMWQ for bottom to buy [06:40 am] Mitch K: watching ANR for botttom [06:41 am] Mitch K: watching NIHD for bottom to buy [06:41 am] Mitch K: that was VMW [06:42 am] Mitch K: watching ABT for bottom [06:42 am] Mitch K: monitoring OII drop [06:43 am] Mitch K: watching SPN for bottom to buy

June 21, 2012 TSA User Chat [06:05 am] mikewd2 -: good morning traders [06:07 am] eddy : hello all [06:11 am] lisas : gm all [06:14 am] mikewd2 -: hugh gap up on ONXX, didn't we just short it a couple days ago. [06:15 am] qwert : Good morning everybody [06:15 am] joeytsa : ONXX had fda-type news [06:15 am] qwert : yeah mike onxx good short [06:15 am] qwert : couple days ago [06:16 am] joeytsa : CELG,RHT gapping down [06:16 am] qwert : joey hoew was tony and the hotties :) [06:16 am] joeytsa : same with BBBY [06:16 am] joeytsa : that starts today for me qwert [06:16 am] qwert : oh okay, haha [06:17 am] mikewd2 -: enjoy joey [06:17 am] joeytsa : i will, just watching first 30minutes here [06:18 am] joeytsa : mike: there is a way to get red/green on the volumne bars..just havent figured it out yet [06:21 am] lisas : joey, on TS? [06:21 am] joeytsa : yeah lis [06:21 am] joeytsa : lisa [06:22 am] joeytsa : just started tinkering [06:22 am] lisas : Hi Joey, use the Volume Ave indicator, then when you format it, go to inputs, allows you to pick up and down color [06:22 am] joeytsa : ahhh, thanks [06:23 am] joeytsa : i like how your charts look [06:23 am] joeytsa : can the pivots or ohlc be formatted? [06:23 am] joeytsa : when enabled they seem to scrunch my candles [06:24 am] lisas : joey, right click on chart, format symbol, scaling, uncheck expand range to include analysis techniques [06:25 am] lisas : That should stop the scrunching, It's trying to fit your indicators onto chart [06:25 am] mikewd2 -: nice, ty lisas [06:25 am] joeytsa : right, thank you so much..was driving me crazy haha

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[06:43 am] Ed : wathcing DCI for potetnial bottom to buy [06:44 am] Mitch K: watching APOL for bottom to buy [06:44 am] Mitch K: monitoring AKS drop [06:44 am] Mitch K: watching FFIV for bottom to buy [06:44 am] Mitch K: watching RGR for bottom [06:45 am] Mitch K: watching LECO for bottom to buy [06:45 am] Mitch K: watching CRK for bottom [06:45 am] Mitch K: watching NKE for short soon [06:46 am] Mitch K: watching VRX closer for bottom [06:46 am] Mitch K: watching VRX for bottom to buy [06:47 am] Mitch K: watching MTW for bottom [06:47 am] Mitch K: watching SU fo rbottom to buy [06:47 am] Mitch K: watching ROSG for bottom; use limit orders only [06:47 am] Mitch K: dont forget about VRX [06:47 am] Mitch K: watching ZAGG for top to short [06:48 am] Mitch K: RHT toppy, use limit order [06:49 am] Mitch K: watching SIG for bottom to buy [06:50 am] Mitch K: consider covering PENN, most of it [06:51 am] Mitch K: consider covering PVH, try 80.50 area [06:51 am] Mitch K: watchign CAG for top to short right here [06:52 am] Mitch K: watching MUR for bottom [06:52 am] Mitch K: watching FFIV closer for bottom [06:53 am] Mitch K: watching MAIN for top to short, soon [06:53 am] Mitch K: watching LF for top to short [06:54 am] Mitch K: watching M for bottom [06:55 am] Mitch K: sorry [06:55 am] Mitch K: szym [06:55 am] Mitch K: start watching CERN drop [06:55 am] Mitch K: FB pattern has been to sell off on spikes, looking for 32 area, be flexible [06:56 am] Mitch K: watching LNKD for bottom [06:56 am] Mitch K: watching VRX closer [06:56 am] Mitch K: passing on SZYM [06:58 am] Mitch K: HAL bouncy [06:58 am] Mitch K: watching TIF for bottom [07:00 am] Ed : SPY new lod [07:01 am] Mitch K: VRX bounce starting [07:02 am] Mitch K: consider selling VMW [07:04 am] Mitch K: light sweet crude under $80 [07:05 am] Mitch K: consider covering NKE short [07:07 am] Mitch K: VRX still strong [07:08 am] Mitch K: ROSG bouncing [07:09 am] Mitch K: consider selling VRX on this helping of long [07:09 am] Mitch K: sell signal on VRX [07:09 am] Mitch K: looking for little lower price on PCYC short [07:11 am] Mitch K: consider covering ZAGG short [07:11 am] Mitch K: VRX too strong to short on top of bounce, best to look for 2nd helpings or repeats [07:12 am] Mitch K: M bouncing [07:12 am] Mitch K: consider covering KORS, try 42.75 area, be flexible [07:13 am] Mitch K: but you know what usually happens right? [07:13 am] Mitch K: MAIN short too slow for me [07:13 am] Mitch K: FFIV bouncing

[06:26 am] mikewd2 -: that's it joey, nice [06:26 am] joeytsa : i will do those changes in a bit..hope you all make some good money today [06:27 am] skydiver : gm Mitch, Ed, and all [06:30 am] joeytsa : BBBY diving [06:31 am] joeytsa : CELG fighting at $60 [06:33 am] eddy : EGLE [06:34 am] joeytsa : trail CELG if short [06:35 am] joeytsa : coming into $59 [06:36 am] mikewd2 -: BBBY nce [06:37 am] joeytsa : yeah mike [06:38 am] mikewd2 -: CELG gave up59 [06:39 am] mikewd2 -: Cramer looking for turn in oil [06:44 am] mikewd2 -: DCI nice 3 min fade setting up [06:47 am] mikewd2 -: CELG moving [06:58 am] skydiver : JOY - take over chatter [07:00 am] skydiver : all out of JOY L [07:00 am] skydiver : S JOY 56.68 [07:00 am] mikewd2 -: UVXYmoving up [07:00 am] skydiver : all out of JOY S 56.54 [07:05 am] skydiver : I was in JOY L before the buy out rumor - got out then shorted - but . . . got a bit excited and got out early - control emotions!! [07:07 am] mikewd2 -: M L 35.95 [07:07 am] jsn13 : Nice move on VRX, long at 45.87, out 1/2 at 46.30, 1/4 at 46.69, last 1/4 at 47...thanks mitch.... [07:07 am] qwert : VRX nice thx mk [07:07 am] skydiver : nice joey [07:07 am] skydiver : LNKD still dropping [07:08 am] skydiver : out 3/4 VRX L [07:09 am] qwert : nice sky [07:09 am] skydiver : thnx to Mitch - thnx qwert [07:10 am] skydiver : DCI is a dog [07:10 am] skydiver : my cat gets nervous when I type dog :) [07:11 am] jsn13 : wow vrx still holding trendline support.... [07:11 am] skydiver : moving stop up on final 1/4 of VRX L [07:12 am] skydiver : all out of DCI L -- be [07:13 am] mikewd2 -: i'm still in DCI L, but moving up stop to b/e [07:13 am] qwert : hahaha yes mk [07:13 am] Ed : turns into winer or winner [07:13 am] qwert : lol [07:14 am] skydiver : I got impatient with DCI mike - but watch it go up soon :) [07:14 am] mikewd2 -: it will take off? [07:14 am] Ed : :) [07:15 am] skydiver : all out of VRX L [07:20 am] mikewd2 -: scary stock Mitch re: FB [07:30 am] mikewd2 -: nat gas inventory smaller than expected [07:31 am] mikewd2 -: SWN movig [07:36 am] mikewd2 -: DNDN moving [07:42 am] skydiver : SODA dropped - had no shares to short at Lightspeed [07:45 am] skydiver : Well - need to get to office earlier today -- might jump on later at the office. Have a great day all :) [07:45 am] Ed : c ya sky [07:45 am] qwert : cya sky [07:46 am] cdougan : later sky [07:49 am] mikewd2 -: out SWN L +0.35

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[07:14 am] Mitch K: anyone Long in TIF? should keep moving up [07:14 am] Mitch K: consider covering most of WSM [07:14 am] Mitch K: well i am whining for sure Ed [07:15 am] Mitch K: i havent been forgetting to post many stocks but spaced on ANN short [07:16 am] Mitch K: VRX might be worth smaller short, start smal [07:16 am] Mitch K: watching A for bottom [07:17 am] Mitch K: SPY bouncing [07:17 am] Mitch K: you know what, forget VRX short, cancel [07:17 am] Mitch K: and stay on top of that , dont get distracted [07:19 am] Mitch K: you guys cover FB? it came all the way back down to starting point, very typical for FB [07:23 am] Mitch K: watching HP for bottom [07:24 am] Mitch K: watching HES for bottom [07:24 am] Mitch K: watching BWA for bottom [07:24 am] Mitch K: watching TS for bottom [07:35 am] Ed : bounce in SPY [07:41 am] Mitch K: watching CNC [07:51 am] Mitch K: watching WYNN [07:57 am] Mitch K: WYNN getting a little toppy [08:04 am] Ed : SPY new lod [08:16 am] Mitch K: monitoring CTXS [08:25 am] Ed : more selling in market [08:34 am] Ed : SPY new lod [08:39 am] Mitch K: watching XOM [08:40 am] Ed : CXO bouncing [09:16 am] Ed : SPY new lod [09:29 am] Ed : more selling in markets [09:32 am] Mitch K: watching LNKD [09:37 am] Ed : getting bounce in SPY [09:46 am] Mitch K: monitoring SXCI for bottom to buy [10:12 am] Mitch K: sorry about that [10:12 am] Mitch K: watching KEG for bounce [10:20 am] Ed : SPY trading at lod [10:58 am] Ed : SPY trading at trendline resistance [11:08 am] Ed : SPY test lod, [11:11 am] Mitch K: watching PM [11:23 am] Ed : more selling in markets [11:41 am] Ed : getting bounce in SPY [11:44 am] Ed : watching GCI for potential short [11:52 am] Ed : if u took GCI short woud cover some here [12:16 pm] Mitch K: watching ACAT [12:22 pm] Mitch K: getting toppy ACAT [12:26 pm] Ed : talk is Moody's will cut 9 banks i nEurope [12:27 pm] Ed : also rating of long term debt of Bank Of Amer., Citiruop will be cut missed the 3rd [12:35 pm] Ed : SPY trading near lod [01:00 pm] Mitch K: Have a good evening everyone [02:30 pm] Mitch K: good job ed

[07:50 am] scalpman : OUt 1/2 CNC S [07:51 am] scalpman : bye SKY [07:52 am] mikewd2 -: LVS moing also [07:53 am] mikewd2 -: got out SWN a bit early [08:03 am] akram : fdx [08:04 am] scalpman : Out 3/4 SWN D [08:04 am] scalpman : S [08:04 am] jsn13 : Mike, where did u enter SWN? long or short? [08:05 am] scalpman : Thanks mike ...been watching [08:07 am] scalpman : All out SWN S [08:10 am] scalpman : I missed a big 2nd leg on CNC S...stopp on 2nd piece too tight... [08:11 am] qwert : wow just looked same here scalp [08:13 am] scalpman : SPY should retrace but there is lots of room down on the daily [08:14 am] scalpman : retrace failed on SPY... [08:14 am] jsn13 : CERN [08:34 am] scalpman : QQwert...that is always the issue...whether to stop just in the GREEN at b.e. or to risk your profits with a stop at the new high.... [08:35 am] victor51 : Thanks Mitch and Ed, Great live trades; 3/3 shorts and 4/6 long. Took both WYNN and LVS short. [08:35 am] Ed : nice going victor on live [08:35 am] scalpman : ED...when take 1/2 profits, do you move your stopp down or leave it at the new high [08:36 am] scalpman : ...on a short (for ex.) [08:36 am] Ed : whenever I take profits I then move stop to b/e as to protect profits [08:36 am] Ed : great questiong though [08:36 am] scalpman : By doing so, though we missed a bigger 2nd leg down on CNC [08:37 am] Ed : right see my entry may be alot different from ur entry [08:38 am] scalpman : Yes...I had a more conservative entry...at 30.93 on CNC S [08:38 am] jsn13 : victor, what have u traded? [08:39 am] Ed : ok so in that case u can leave at high of day, see if stock puts in higer low [08:39 am] Ed : see in that case even if u stop out overall ur making money on that trade [08:44 am] Ed : meant lower high for the short [08:47 am] victor51 : jason, currently, WYNn short and XOM long. Earlier long vrx,lnkd,hp, ts,ctxs ROSG. and lvs short. All from Mitch and Ed [08:47 am] jsn13 : Ed, did u take XOM long? [08:47 am] Ed : yes [08:48 am] jsn13 : entry at 11.44? [08:48 am] Ed : 1/2 at 11:42 and 1/2 at 11:44 [08:49 am] scalpman : Out XOM b.e. [08:50 am] jsn13 : thanks victor and ed for the info..... [08:51 am] Ed : i took profits at .57 full looking for reintry 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

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[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 line resistance... [08:58 am] Ed : fyi, normally when weak like that, would be good short breakn lod with vol, but did not take due to lack of vol 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 good trade 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 and mike... [09:01 am] jsn13 : saw potential support at 83....no long either for now....wanna see how it acts at 83 level.... [09:02 am] scalpman : Thanks qwert...I started 1 hour late today and seems to then pick a few good trades. [09:03 am] jsn13 : good job scalpman...have a great rest of the day..... [09:03 am] scalpman : I'd like to play the morning...but it is too fast...and I seem to pick the fizzlers....(not always, but a lot). This mide morning trades seem more obvious to me....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 on how to play the opening hour. There are so many ideas, I don't 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 agressive entries, but I was always stopped out [09:08 am] scalpman : I went back to Mitch Style trades mid morning... [09:09 am] scalpman : I don't have the skill yet to read the candles better... [09:09 am] scalpman : I have 2 minute and daily charts up and watch SPY on 2 minute [09:09 am] Ed : definitely about finding what fits you, but never 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 Heather for 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 calls and have a great day.

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[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 - I'm 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 it's safe to turn sound 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 know where is ur entry? [11:31 am] victor51 : Wynn long?? [11:32 am] Ed : not at this level on Wynn, would monitor on pullback 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, its consolidating, 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....still have half in.... [11:54 am] jsn13 : out all at 13.54....thanks ed and murano for 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 was thinking that it would bounce easily....not a good strategy though.... [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 also

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[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 this ur 1st entry for GCI short? [12:00 pm] jsn13 : no im juz trading very small position....juz dont 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, I mean buy/short stock I take off screen [12:02 pm] Ed : Its habit, from days when I would trade a stock too many times, so to alleviate I would just take stock off screen, but its been habit now for 2 years [12:03 pm] jsn13 : this is my 2nd entry actually....tried at 2.39 bar but got stopped out....its ok 6cents loss...then renenter when more signals showed up....entered at 2.44 bar...agressive entry.... [12:03 pm] Ed : I think 2md entry is alright as long as ur getting 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 the 2.43pm bar....expected that so went right in once it closed....rejection fo higher prices plus R3 and 13.75 potential resistance.... [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 more than 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 for a beer! :) [12:08 pm] qwert : been some really great calls today :) [12:08 pm] Ed : victor did u take WYNN long after it pullback held 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 from yesterday? [12:15 pm] jsn13 : skydiver, r u here? [12:18 pm] skydiver : hey jsn - i'm multi-tasking with a whole bunch of student violinst [12:18 pm] skydiver : I'm back [12:18 pm] skydiver : TPX dropping [12:19 pm] jsn13 : sorry to disturb....juz wanna learn from u what kinda of exit strategy u use to exit...if u have time.... [12:20 pm] skydiver : well - today lousy one - had to exit to get to the violin student's question and didn't want to keep that stock while gone [12:20 pm] skydiver : but -- gut sense -- was it was pretty

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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 van keep 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 maybe 1/2 or 1/4 left....i alwasy exit early so wanna see what method u sue to time ur exit... [12:22 pm] jsn13 : *always, use [12:24 pm] skydiver : well Jason - hard to explain -- I'm using stochastics SPY SPX candles, but my gut sense when to buy or 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 5 minute 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 wasn't best "gut" feeling to jump in :) I shouldn't have while talking to another person -- [12:28 pm] eddy : i got stopped out [12:28 pm] jsn13 : thansk skydiver...u really let ur winners run......good job....so for vrx and gci, seemed like u used 2 min 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 moving market....thanks.... [12:30 pm] skydiver : no eddy - no strong nerves - just learning 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 down to be on ACAT S -- don't like the way it's looking, but will stay 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 okay instead of loss :) [12:39 pm] skydiver : will monitor ACAT - but time is getting short 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 slightly off key - children group here learning to play [12:42 pm] Ed : lol [12:42 pm] skydiver : kind of like scratching finger nails on a chalk 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 and closed 12:05 at 102.52. Your critique please [12:45 pm] Ed : is that pst or est time

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[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 the UVXY closer :) [12:50 pm] garyb : I bought a TON of UVXY last night and was nervous....great day! [12:50 pm] skydiver : nice :) [12:50 pm] skydiver : I wondered who bought one million shares all at once last nite! [12:51 pm] garyb : LOL [12:51 pm] Ed : looks like timing on that one, it had already moved up quite a bit and u bought right at the area of breakdwon, also, SPY had gotten weak again [12:53 pm] Ed : Then at 2:32 i mentioned to wait for pullback and see if lod held b4 taking long, like higher low [12:54 pm] qwert : everybody have a great night see ya all in the 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 form on WYNN had better profit potentil due to potential area of ressitance [12:59 pm] garyb : wow...UVXY is up almost 22% today!! lol [01:00 pm] victor51 : Ed, you are right. I also bought it at resistence. Only, reason i bought that my earlier short I got out way early with good profit and regretted . i believe this was regret reaction and thought it will bounced back. Not a goood strategy.I ignored SPY lttle bit because couple of stocks 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 b4 taking trade do I have an edge or am I just taking a trade for sake of it? [01:03 pm] Ed : Many time we know what correct, but still go with the emotional flow, this is what we want to alleviate [01:04 pm] Ed : Just like anything else that has to be worked at, its alright to ask urself this question many times b4 taking a trade until it is 2nd nature to you, like positive biofeedback [01:05 pm] victor51 : ed so 11:37 would have been right entry [01:05 pm] Ed : You would have more of an edge [01:06 pm] Ed : so much different trade than buying right at potential resistance [01:07 pm] jsn13 : which bar on wynn confirmed the higher low on WYNN and where would be the entry? [01:07 pm] victor51 : thanks Ed. I still have to work on gut feel or emotional trading. Also, psychology that I had great am 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 : I'm learning from you guys. [01:14 pm] Ed : cool

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[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 can't 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 in my charts? [01:30 pm] jsn13 : right... [01:33 pm] victor51 : ED o you are looking at recent resistance. I use stop out at 102.30 [01:33 pm] gub : resistance is what I really don't know how to find. [01:33 pm] victor51 : is it good idea to use recent r [01:34 pm] jsn13 : its the most conservative way to calculate r 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 for on a daily chart... [01:37 pm] sakii : sorry [01:37 pm] sakii : 80% [01:40 pm] gub : I really like that part of trading - it's exciting. [01:40 pm] victor51 : yes. [01:40 pm] jsn13 : if we constantly take profits early, what do u suggest us to do? [01:40 pm] gub : TY for saying what you're saying - I feel better. [01:41 pm] victor51 : I am improving everyday and removing old habits

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[01:42 pm] gub : When I pull up daily it shows at bottom going back to March. [01:43 pm] gub : on the chart. [01:43 pm] victor51 : But day like today will skew daily a lot. Isn't 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 the open... [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 in selection.... [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 work well also....especially the 1st bounce... [01:53 pm] Mitch K: VRX gave a 2.5% bounce jason but was great short. i wasnt sure if it was going to sell off until we started seeing the overall markets sell off [01:53 pm] jsn13 : took profit at 9,46 am and 9.48 am on LQDT long [01:54 pm] jsn13 : thanks mitch.... [01:54 pm] sakii : yes [01:54 pm] victor51 : so we shouldnot feel bad I f we are wrong. Just change direction and go with flow [01:55 pm] jsn13 : but victor i think we need to have good prices... [01:56 pm] jsn13 : Ed, would u gong long LQDT at around 10.15 and 10.36 maybe? [01:57 pm] jsn13 : since they moved down so much and have 50 bucks as potential support....nice volume... [01:57 pm] psoxman : Prior to the market open, did you think LQDT 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 is not 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 : ?

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[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. It's 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 : That's 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 too

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.

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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.

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,

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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.