Buy ACLI ...laters.

Just in case the market decides to fire a rocket at short sellers, I decided to go long ACLI as a hedge. The stock has been bouncing around $53 with lack of volume.

Someone asked me about oil stocks... well, the group is falling. Probably because oil is falling. I would wait for oil to find a bottom, because it takes a lot of global events to push oil back above $75 (ie, vicious war in Middle East, hurricane in Gulf, oil rig shut down etc.). VLO is usually a popular oil pick, but it's not doing so well today- that should tell you something about how Wall Street generally feels about oil stocks... it looks like money is shifting out of energy stocks as we lack news.

Finally, I'll wait for tomorrow to go long NUAN, and perhaps CNTF instead of PALM. I probably should have shorted RMBS above $16, but we'll see.

OSTK took a U-turn

Longs dumping. But support at 18.60

NUAN I will buy tomorrow

I will buy this tomorrow under $7.80. Stock is in a dead stalemate at $7.90. Setting a buy limit to 7.75 today. Doubt it will get filled.

EBAY as a hedge?

I'm thinking about hedging my NETL by going long EBAY. RSI for eBay is over 90.

Note to self...

CNTF is under heavy accumulation. Did someone read my blog? Nah.

[Swing] Short NETL

I may be jumping the gun here, but the SOX is way overbought, and it currently is showing weakness is challenging the 460 support. I would short BRCM, but it looks like I'm a bit late. So, I'll give NETL a shot.

PALM gapping up

w/ the Dow gapping up, there's a lot of stocks out there gapping up too.

RMBS filling the gap

WWE kicking my butt...

Okay, time to cover.

Did Fly take the day off?

he hasn't posted anything.

OSTK squeeze some more

So why haven't I bought OSTK yet? This could turn into a massive short squeeze. Remember Travel Zoo (TZOO).

NUAN is looking attractive

NUAN is getting closer to the price that insider William Janeway bought... $7.74, 7.73, 7.80, 7.95.

ACLI ... where's the buyers?

Hardly any bids on this stock, and so the longs are getting nervous.

OSTK continues to rally

Action like this makes me think twice about shorting stocks like RMBS

Dow rally back up

WWE stronger than I thought

will cover soon

GYMB on fire

Rally confirmed by volume.

Noon Update

Okay, I'm going to wait and see if WWE can inch down a little more (the dude on the right works for WWE... he's probably trying to scare the shorts). In the meantime, I'll also be looking for a re-entry long position on NUAN, ACLI and PALM. And hopefully RMBS can move back closer to 15.90 so I can short it. I was thinking about shorting GGR, but it's very suspicious (ie, not moving after a big drop... I would expect panic selling, or bargain hunters).

Noon Update

Okay, I'm going to wait and see if WWE can inch down a little more. In the meantime, I'll also be looking for a re-entry long position on NUAN, ACLI and PALM. And hopefully RMBS can move back closer to 15.90 so I can short it. I was thinking about shorting GGR, but it's very suspicious (ie, not moving after a big drop... I would expect panic selling, or bargain hunters).

GGR ...?

After a 5% drop w/n 5 minutes, I would think this stock would have moved. It's been stuck at 5.46.

Note on GGR...

Why is GGR up so big in the past two weeks? Time for a little research.

[Swing] I'm looking at GGR

GGR looks like a good swing short. I'll wait for it to move back up when the panic selling quits.

GGR took a dive

Profit taking very likely

Short WWE

I posted this on the main page again. Anyway, tight stop at 17.37.

RMBS in the red

RMBS touched red for a bit. I'm not sure if it's worth shorting now. Could bounce off yesterday's closing price.

PARL is falling again

Stock now has 6.13 support. Yeah, I should have not shorted yet. It seems like someone is purposely trying to push this stock down. There is a giant sell order that keeps on adjusting lower and lower.

RMBS falling again...darn

Sometimes I set my short sell limits too high. I was waiting for 15.95, but looks like I won't get it.

PALM creates new day low 14.54

NUAN moving up with the Dow

Look how closely the mirror each other! I probably wont buy NUAN today, because I strongly feel that the Dow will trend lower tomorrow, especially if it sells off in the afternoon. So, no rush to buy NUAN.

DOW looking better

Formed a double bottom, then launched back up. Let's see how it handles all those resistance points above.

DOW looks ugly.

Support at 11,374 is coming close.

RMBS... short closer to 16

I'm thinking short at 15.90, with a stop around 16.07

NUAN, get your butt back below 7.90 NOW!!

I still haven't bought you. Go just a little lower.

PARL covered

Well, I just covered my shorts on PARL on the 3rd fold by the longs. Okay, u can move back up now.

PARL panic selling...

Longs fold their 3rd hand for the day.

RMBS, get it together!

I would like to short you above 15.90. Move it back up. Stock has fallen about 80 cents in the past hour! Move back up.

RMBS ....panic selling

DOW is red

NUAN profit taking madness

Okay, I'll buy this below 7.80

PARL... where's my next panic wave?

Stock got quiet. Longs need to fold their third hand of the day.

RMBS looks weak

HUGE buy order got eaten up fast at 15.90. That means.... profit taking.

PALM falling, not surprised.

Not enough love on this stock.

NUAN looks ugly right now...

May dip below 7.90

PARL... 6.25 support

I changed my mind, 6.25 looks like an interesting pivot point. It's basically yesterday's low, or the beginning of that rally. I would think traders would sell at this point for a break even.

DOW looks like it moves up

But it's very tricky. Whipsaw action early on. If it holds, we move up.

PARL next wave of panic?

Next support is 6.21. I need more panic selling NOW! Give it to me.

BDCO strong overhead resistance

Lots of sell orders in 5.15-5.20 range. Critical support is 5.06, if broken, heads below $5.

WWE = very strong

Longs are in control. No one selling shares just yet.

DRYS gapping back up slowly

This undervalued stock is surviving a sell off quite nicely. Swing long?

WWE continues the rally up

DAY short JOYG...?

Bwa ha ha! Crazy. Don't even think about it.

JOYG may have topped out at $42...

MAYBE. Could be taking a breather before it moves back up.

PARL next support is 6.21

PARL broke the 6.30 support

...finally.

PARL... panic panic I need more panic

PARL.... stupid longs not folding

I need you to get under 6.30

NUAN will head back below $8

I'll get a second... third... and more chances to buy this under $8

NUAN back over $8

I was so busy watching JOYG destroy the shorts, I forgot to go long on NUAN!

PARL moving up, resistance 6.40

PARL is battling resistance at 6.40. Send em back down!

JOYG, okay....

I'M IMPRESSED. This is a major short squeeeeeeeeze.

JOYG won't top 41.50

If it does, I'M IMPRESSED.

JOYG zoooooooooooooooooooom!

AEOS break out

JOYG up $5

FNSR longs are weak

Rats jumping ship on JDSU news. FNSR reports next week.

AEOS is hot

NUAN is now under $8

I should have shorted yesterday. Oh well. Looking for a swing long entry point

JOYG and WWE... best so far

These two stocks are punishing the shorts. Either that, or bargain hunters loved the conference calls.

NGAS is moving up

PARL where's my panic sellers?

WWE doing good

Wrestling stock has some muscle.

PARL support 6.30

Panic sell below 6.30

RMBS showing weakness

DRYS falling

SEAC continues rally

JOYG on fire

waiting for a price settlement, stock kindah volatile

OSTK very interesting

One of short sellers favorite stocks, OSTK, is fighting back. Short squeeze in past two days.

PARL got knocked up a bit

What was that? Stock dropped. Investors exiting before close.

WCG in a correction

but strong support at $55

OCN bouncing up

after a downgrade that sent the stock down hard, OCN is bouncing up to find a better price. Stock has moved up $1 throughout the day.

PALM looks dead... Sell

This stock failed to move in the past hour despite the Dow picking up steam. What?

This stock had positive coverage by Morgan Keegan, but fell 25 cents. What?!

I guess this is a good stock to go long, but maybe real long long long. Anyway, I'm exiting today.

PARL short

Stock moved up big fast. Dead cat? Hope so.

PARL moving on up

buy the dippers pushing stock up

GGR back in the green

This hot stock has survived another day of profit taking. Up 74% in past two weeks.

PARL support $8.35

Strong support forming at 8.35. Stock should move back up a bit.

BTJ looks bad

Could head down hard if longs panic.

CMOS breakout holding

CMOS moved over 20% in past few days. Stock is gapping back up. Could see $3.

ACLI break down

ACLI just broke down below the day's support at 54.08. You can thank the Dow.

Dow is in the red... lookout bulls

PARL panic selling

Those pivots were quite effective. I should have entered at 6.52. Anyway, I'll try to short at 6.45.

PARL panic selling

Those pivots were quite effective. I should have entered at 6.52. Anyway, I'll try to short at 6.45.

PARL i want to short you

It took out 6.50. Next is 6.45. If it can't hold. We may see profit taking. I'll wait for 6.50. Stop at yesterday's high... 6.80.

[swing] NUAN looks good

...for a long term swing trade. Stock has had heavy heavy insider buying (about $10 million) in the past week. That's my guess to why the stock is up big today, since there was another insider purchase yesterday. Insiders got in around $7.50 and $8.00. Therefore, today would be a good time to get in at $8.15, since the gap back up to double digits looks very likely. It may pull back a little tomorrow since investors got very excited today, so I'm going to wait for tomorrow or just put in a very small position today.

OCN ... looks interesting

What a nice day chart. Moved up 93 cents.

TZOO fails to break 31.50

TZOO also took a peek at 31.50, then headed back down. Watch it carefully on the next test.

STLD barely fought $53

Stock got sent back down after taking a peek at $53. I guess that's where all the sell orders are.

Dow break out

Dow trying to break out... look for a break through 11390, and then 11,407 (days high). If we can take those out, go long

Dow break out

Dow trying to break out... look for a break through 11390, and then 11,407 (days high). If we can take those out, go long

TZOO filling gap up

TZOO working hard to get back to $31.50 ..... bwa ha ha.

STLD sold

Just before I sold, the thing popped up a few more cents. That's cool. Anyway, I sold because I don't think the stock has much room to move up above yesterday's high (unless we see a late noon rally in the market). It will take a lot to move above the downward trend channel (look at the 6 week or 2 month chart)

BTJ challenging critical support $17.80

Stock could see some panic selling if it dips below 17.80. Next supports are 17.42 and 16.46.

ACLI sold

I sold ACLI because it kept bouncing off that 54.35 support. I figure the upside is not that great as the downside for the next few days. Take it all of the table, but may get back in on Friday.

ACLI moves with the Dow

No buyin or selling, just bid and ask prices moving around with the Dow.

TZOO falling again

Resistance at 31.60.

BTJ watch....

I'm eying the $18.18 resistance. If it stops the stock, could head lower. BTJ's volatility in the past week is amazing.

PALM tanking

What's going on here? Two sharp legs down on the day. I might have to sell this punk if it doesn't get itself back together.

FNSR pause, then rally

FNSR is doing one of those quiet pullbacks before another rally up. Look for a bounce off $4. If not, set a tight stop.

GGR profit taking likely

GGR is sitting at the days low. If it can take this out, we could see some profit taking back below $5

CMOS

getting close to the $2.40 support

PARL huh?

Why is this stock up bign the past 5 days? Possible swing short on the correction.

I'm out...

Gotta go. Looks like a good time to buy discounted stocks like AAPL, BA (maybe), TZOO, and MED (looks very good above $12). Anyway, I hope my longs will survive whatever the market does after the FED minutes come out. Hopefully everyone already has an expectation of what will be said... slower economy blah blah blah, no rate hikes blah blah. Market always reacts negatively to the Fed. Hopefully they won't take it too far.

CYTR .... dump time

Stock is seriously getting dumped. Resistance at $1.60 is super duper strong.

CYTR bulls folded

here comes all the selling. Maybe I'll get my 1.52? If I do... I don't want it anymore.

CYTR is a poker game

who will fold?

CYTR breaking out again

I should have just bought instead of waiting for 1.52. Stock is now at 1.62. $1.70 is a strong resistance, but if broken this thing will fly (that's the day high).

2:00 Fed news coming up

I'm expecting a sharp decline in all indexes, then a move back up in a correction. Dow MUST stay above 11,300 or else we're in trouble.

CYTR resistance moved up a bit

hopefully I can get in closer to 1.52.

CYTR resistance

$1.60. Could take it out, but I'm not too excited yet.

CYTR

support at 1.49. This is critical!

CYTR dangerously exciting

In a market this dull, I'm forced to watch a stock like CYTR. Looking to go long on a quick trade.

OLAB is a better swing short

Where's the buyers? This thing will DROP in the next few days. That's my guess, and I'd put money where my mouth is if there were some shares to short.

I'm back... but only for an hour

Buy ACLI... laters

Just in case market rallies, I picked up ACLI as a tranny play. I'm hoping that last week was a mild correction in a real rally.

No sense day trading this flat market. Probably will pick up again when FED speaks. Maybe I should have waited and bought then? I don't know, I think everyone is thinking that so I might have gotten a discount. Whatevers. It's a swing play anyway.

Blogger is crap today, so I'm out. I'll check in in a few hours.

ACLI popped up

Looks like a good stock to buy if market rallies. A lot of buyers are waiting on the side.

Buy STLD

Searching for a bottom

ACLI continuing to slip...

stock correction.

(Blogger acting bad today)

OLAB broke out, then broke down

Took out 5.16

It's sooooo hot in hawaii

This market stinks. And it's hot... not the good kind of hot. There's NO BREEZE at all! Market will probably head lower if nothing good happens.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Data just out

Consumer confidence data out... Dow slipped a bit.

OLAB breakout

short squeeze in effect

VPHM SUPPORT 12.40

Dow is green... so far

VPHM below 12.60

Day low is pyschological spot... 12.48

VPHM support at 12.60

Go long under 12.70, but set a tight stop to 12.60.

NGAS tough call

I see only one huge sell order at $9.05 preventing this stock from moving on up. I would expect some sort of rally w/ Ernesto heading to Florida (then again, it's only a Category 1 at best).

Day Trade Radar

• VPHM - Hepatitis C data; conference call at 9 am
• BKS - gets options subpoena. Some sell orders in premarket are already in. Trend lower.
• LFC - reported good earnings. Closed up 3% in China. Trend up; new 52-week high?
• MRX - performed strong yesterday
• FORD - heavily shorted yesterday
• MED - looking for a swing trade long.
• CNC - stock was weak yesterday
• TZOO - longs getting cocky on this stock. $36 may be tough to crack.
• NVEC - one crazy stock.
• FIZ - weak yesterday
• CME - is it time to buy puts? Looks like a swing short on the month chart.
• FRG - up big in the past month
• FTEK - I have no idea why I shorted this stock
  

OMCL break out!

Stock has broken out of $17.74 just now, making me feel like an idiot for selling this morning.

MED

Big risk, big reward in MED. Stock can go either way tomorrow.

Dow Profit Taking continues

10 more minutes to go, and longs are still jumping ship.

ACLI- hedge long

Somehow my portfolio got heavy short. I'm thinking of buying ACLI before the close just in case we see a market rally again.

Note to self...

add ANAD to the "sell short soon" list.

Oooops.

I just realized I was posting day trades on the main page. Whoooops.

MLS short here

MLS looks like a good swing short here. I would do it, but we got too much news on the tape this week.

WCG added to IBD 100

So what does this mean? Kiss of death? Maybe. I tried shorting this but got squeezed out day after earnings. Insider selling has been active in the past two months.

FORD in trouble

Looks like <5.40>

[Swing] FRG sell short

The resistance at $5.65 looks pretty tough, well, at least stronger than the 5.61 support. I'm looking to play the correction on this stock.

FORD proft taking

If 5.45 gets taken out, heading to 5.30 before close.

Dow Profit Taking before the close

Instead of a rush of buyers, looks like we have a bunch of rats jumping ship. Dow gave up 27 points in past hour. The volatility has begun.

Note... FRG is in breakout mode

I can't believe I missed this again. I had it down at $3. But refused to participate after missing the runup. Now it's back above $5.50.

[Swing] MRX looks good

MRX looks like a good swing long. If it retraces, maybe down to 28.60.

Note to self...

TIVO before earnings? Do I buy?

FORD in range

Looks like 5.72 and 5.62 is FORD's range for the rest of the day. I thought this thing would fall further. Let's see what will happen in final hour of trading... panic covering or profit taking? These microcap stocks are tough.

I'm Back...

That was a longer break than I thought.

Going on a break....

I gotta go eat something. Probably go to Jack in the Box. Remember... keep shorting FORD into the close! Profit taking continues.

[Swing] Short FTEK

I'm hoping the $15 resistance holds, and if not, then the $15.13. This is more of a hedge against my longs in PALM.

OMCL breaking out soon

Man, why'd I sell so soon?! I'll be very angry if this breaks $15.75 today. I sold this stock way to early.

Sold OMCL.

I thought I got a good deal today selling my swing long in OMCL. Up almost 50 cents on low volume. I'll try to buy back tomorrow on a cheaper price. This stock will have a hard time getting over 17.75 this week, so I think I'll get a discount some time soon.

MFLX sitting on important support

$19.69 is a fragile support. If broken... heading back down.

NVEC... squeeze some more

there's a lot of weak bears in this stock which makes me now thinkg twice about shorting it. Anyway, NVEC has broken above $28.

FORD on fire!

MED high 12.00

MED is copying the Dow. Simultaneous highs.

FORD reversal?

I'm waiting for a Dow reversal which will knock the wind out of FORD.

MED breakout!

Med launched up there! Look at today's chart.

FORD I was wrong on this one

The stock did crack $5.50

MED fighting resistance 18.90

I'm so tempted to short this right now, but so far the 11.90 resistance is getting beat up by the bulls. Plus, Dow is on fire.

Tough day for the bears!

I can't be confident with shorting stocks today. Except a dumb stock like MED.

Dow taking out pivot ponits

Has anyone noticed how the Dow is taking out those pivot points with huge up-ticks? Looks like investors are jumping in on anticipation... a bullish sign. Currently challenging 11321 point.

Low Volume day today

... everyone is waiting for tomorrow, when the economic data starts pouring in.

FORD testing day high

but I doubt it will crack $5.50

EBAY

Should I believe this little bounce? News of alliance w/ Google. Stock has been falling. Also watch the Internet ETF (HHH) which is eBay overweight.

NVEC pissing me off

I have to turn my NVEC chart off. I knew it was just a temporary short squeeze with panic covering. Oh well, I have no position in it, so why am I still looking at it... and talking about it!

NVEC squeeeeeeeeeeeeze...I'm out!

So many weak shorts bailed out. This stock had a good chance of hitting $25, but the Dow is scaring the shorts away.

NVEC... wow!

Those two giant bars caught me off guard. Stock is now in the green!!!

NVEC may cover soon.

If the Dow and Nasdaq keep this treck up, I may have to cover NVEC. Ask price is moving up like crazy!

MFLX completely fills gap

How'd I miss that one? MFLX surged back into the green for a moment. I'll be watching this more.

FORD moving up w/ volume spike

Volume just doubled on this stock! The call is yours.

Dow breakout

Lookout Dow is moving up. Next pivot at 11,316.

Note to self...

Don't touch FORD. Volume is 77k. Some jerk is manipulating this stock.

Dow will test 11,300 soon

Check out FORD now! Moving up fast

This stock popped a good 25 cents in 30 seconds

NVEC falling more?

Stock will have trouble breaking downtrend. But I may cover soon. Watch the Dow.

BDCO strong resistance 5.20

BDCO is fighting a powerful resistance. You can short around 5.14+

Hurricane Plays getting hurt

Those high flying hurricane stocks are getting hit...

BDCO, FUEL, NGAS

NVEC very volatile

Stock is everywhere. I may cover soon. But waiting for stock to head below $26.

End of Day Notes

Tough day out there. I saw the market rebound and went covering my shorts in MED and MLS in the morning. I forgot that these two stocks had their own stories developing. Still, it was an overall low volume day, which is never good for the bulls after they just had a mini-rally (last week). The best performers were energy stocks and other hurricane plays (BDCO, FUEL, NGAS, XTO, HOKU). These will be the worst performers (w/ exception to XTO) if a hurricane does not hit the Gulf. Looking back, I did expect this week to have a bunch of dead cat bouncers, and it certainly turned out that way... check out PALM, ERS, ATHR, MRVL, TIE. All of them gave up almost everything that was gained.

• MED- those who bought on Stock Lemon's recommendation got hit
• CREAF - I wanted to go long this stock, but someone put in a 20,000 sell order close to the stock price.
• NVEC- I get the feeling that I should have covered and re-shorted on Monday. I held on to the short thinking the bulls would be too scared to touch this.

[picture above is some sailboat in Waikiki beach. It's pretty sunny here, which makes me wonder why everyone is buying up HOKU, which is in Pearl Harbor, as a hurricane play. I'll be the first to tell you if the weather is bad! Took some Californians to Waikiki last night and walked everywhere. Now my legs are sore. It was pretty cool watching this guy on the street juggle a zillion baseballs. Best part of the day was walking on the sand at night... just avoid those honey mooners making out.]

NVEC shorts covering

I expected this to happen in the final 10 minutes... shorts covering NVEC. This is squeezing the price up a bit. I too have to decide if i want to cover my trade or keep it as a swing. I never meant this to be a day trade, but I already have a 3% profit.

MED dumpage

I wonder how many people listened to Stock Lemon's bullish call yesterday? Sounded like a "pump and dump" scam to me (Stock Lemon guys are smart, but I only short if they say short. I wouldn't buy if they said buy, especially on a stock they said to short a few weeks ago!)

Anyway, there's strong resistance at $11.70. I covered too early yet again. Oh well.

TIE

I think I set my limit too low. I had a limit to buy TIE at $25.65. Come down, just a little more, I'm too lazy to reset my order.

Buy TIE

The Nasdaq is doing fine, and the Dow is trying to catch up (in the middle of a nice finish). Just in case we see a big jump on Monday to fill up the gap on this weeks ugly, I put in an order to buy TIE. It's more of a hedge against my shorts.

NVEC short

NVEC has fallen considerably already, but I think it has a long way down to go. Anyway, I noticed a lot of shorts covered today so we could see more re-shorting next week. If you're going to short, be tight on your stop loss. Mine is set to about 2%.

Stop $28.50

NVEC falls $5 today

I don't know if anyone has noticed, but this stock was continuing the trend up this morning then WHAM! Down $5. This is very ugly for the longs. Oh yeah, NVEC is still falling.

NVEC panic profit taking

Man, what happened to this stock today! It tanked some more before I could enter my trade. Anyway, more room down below so I'll try to short when this panic subsides.

NVEC profit taking

Okay, NVEC is struggling to stay up. I'm thinking an ILMN part 2. This stock may correct itself down down down to $26. Swing short.

Now it's Bulls beware

These Fry-days are nuts. The Dow has gone Schizo. It could be trouble for the longs if it gaps back down and takes out 11,266.

Contrarian Swing long on Apple

News of trashy laptop batteries for Apple surfaced. I know a lot of people are thinking... "short AAPL." Go against the crowd on this one.

Hurricane Stocks are moving

Did you see the hurricane stocks? (energy, oil, etc). Up big...

HOKU- they do energy here in Hawaii in Pearl Harbor; hey, there's no hurricanes here! In fact, I went to the beach three times this week. Idiot investing going on here.

BDCO - Blue Dolphin is up today on tropical storm news, but barely budged a few weeks ago after reporting record earnings. Another case of idiots investing.

FUEL - I don't really trace this, but it seems to move wherever BDCO moves

Bears watch out

The Dow is created a nice bullish flag in the past hour. Now that we're heading into afternoon trading, the indexes could pick up. Watch out for a break above 11288 on the Dow.

HOKU resistance $5

Hoku will have to work very hard to take out $5, so I'm not going to put a day trade long order here unless we see one of those end of the day rallies

NVEC is a dangerous stock

avoid NVEC, long or short. This thing moves in 50 cent increments quite fast.

Covered MED & MLS

I covered MED and MLS this morning. MED is having trouble finding itself after Stock Lemon trashed it, then praised it.

MLS still has a long way to go, but I said that a few days ago so I'll cash out. Very large block sells at $18.30, so set your stop just above $18 if you continue to swing short.

XMSR swing long

A good swing long if it can close above $14

HOKU possible breakout

I'm waiting to see if Hoku can take out 4.90.

FINALLY blogger works

On the Radar

Good morning. Gold is up. On the radar today are the usual so far...

• XMSR - hot today
• MED - dropped back below $12
• CHS - continuing the sell off
• ALSK - oh boy, this stock is up big and I sold it too days ago!
• NVEC- this heavily shorted stock is punishing the shorts
• MLS - looking for an exit today

New stocks for the day...

• AAPL- nice volatility today
• RIMM- doing well the past month
• F- back above $8
• BTJ- stock is ON FIRE

On the Radar

Good morning. Gold is up. On the radar today are the usual so far...

• XMSR - hot today
• MED - dropped back below $12
• CHS - continuing the sell off
• ALSK - oh boy, this stock is up big and I sold it too days ago!
• NVEC- this heavily shorted stock is punishing the shorts
• MLS - looking for an exit today

New stocks for the day...

• AAPL- nice volatility today
• RIMM- doing well the past month
• F- back above $8
• BTJ- stock is ON FIRE

I'm out

I'm done for the day.

MED up on move to NY Exchange

After getting tossed around on the AMEX, MED will trade on NY Stock Exchange. So what? I'm not sure, but the jump in price to this level in this short time is strange. Short on possible correction.

MLS has stubborn Longs

It's tough watching profits getting chewed on. Longs in MLS are not selling their shares. I'm getting tempted to cash out soon, but the possible fall below is so tempting.

Dow reversal

Man, this caught me off guard. Let's see if we can go green.

MLS spike

What's up with this huge spike? I'm going to be stubborn and ignore this for a bit. I think it has more to do with the sellers.

AUY spirals down

AUY just fell below support at $10. A lot of impatient longs are hurting this stock.

DOW looking shaky

With 3 hours left, unless the Dow shakes off this downtrend it may take another sharp fall. Longs may bail out and take an early vacation.

ALSK scared longs

ALSK looks good for a swing short back down to $12.50.

FORD... is for pros

I'll leave this stock for the pros. That last sharp move back above 5.15 was unexpected. I'd short here, but those nasty spikes can hurt ya.

FORD topped out

I may have spotted FORD's reversal point. If FORD can take out 5.14, then it heads down to 4.95 support

ILMN breakout

after falling hard yesterday, ILMN is bouncing up and has broken 32.10 at the moment.

NVEC falling falling falling

NVEC could create a second sharp fall of the day within the next few minutes. Lots of selling pressure due to heavy shorting.

Still holding MLS, OMCL

I'm still holding on to my swings in MLS (short), and OMCL (long)

FORD unusual rally

What's up with this stock? No news on the ticker, but this former #1 IBD 100 stock is pumpin'. This does have a low float, and so it can move pretty fast. Overhead resistance at 5.30, and a huge block trade 5.50. I'll wait for more bids and asks

RMBS still on fire!

Gap it up.

OLAB falling

Shoot. I tried so hard to short this stock, but no shares left for the past 3 days! Shorts who got in, stay in! This stock has a long way down.

CHS is a tough call

lots of shares being traded

JCG gap down?

JCG investors may be cashing out ahead of today's earnings report. CHS got hammered yesterday.

PALM testing support 14.48

Palm's rally is in trouble. Testing 14.48. The again, it will follow the index.

ALSK

Turns out ALSK is busted. There is strong overhead resistance at 13, but strong support at 12.80. So it's sorta flat for now.

END OF DAY NOTES

Another day of profit-taking. Above is a crude 3-day chart of the Dow. The trend clearly indicates profit-taking. And the yellow bar was the danger zone I pointed out this morning, 11300, which didn't hold. The Dow did manage to stage a slight and expected rally, but it wasn't strong enough to break free from the "profit-taking" channel. Once again, today's low, 11264 will become tomorrow's critical support, and that little peak at 11301 will be a tiny resistance.

I started off the morning really pissed off when I saw my stop loss was triggerred in CTCM! Lesson: don't set computer stop losses on low volume stocks. I ended up buying back the stock at 22.99. Yes, look at the high of the day, that was my trade... ouch.

• PALM - weak the whole day. Blackberry email can now be used on Treo... was that bad news?
• RMBS - making a nice comeback
• ILMN - got flushed down the toilet. This is one volatile monkey.
• ALSK - I panic sold my long. Maybe I should have held on.
• OLAB - struggling to stay above $7
• MED - used to struggle above $12, but failed, and now it's heading down below $11
• Home builder stocks, like TOL, may be weak for the rest of the year. Look out!
• XMSR - profit taking. A buy below $13 sounds good for now.
  

PALM ...buy?

I'm itchin' to go long PALM under $14.50. It seems today's drop was either panic selling, or sell on the news scenarios. It is about to completely gap down everything it gained from last week.

FTEk up fast

Good thing I covered this schizo stock. Practically filled the gap for the entire day. I'm not sure whether to go long or short here.

Dow is acting funny, PALM too

Dow is moving in relatively large swings. Uh. Don't know what lies ahead.

Dow spiked recovering, covered FTEK

Shorts are covering (like me). I covered FTEK. Still stubbornly holding on to MLS. I may have to hedge this trade.

Dow sending a signal

The Dow needs to make a mad bounce and reversal in the final hour or else it'll be another nasty day tomorrow. With that said, I may have to cover FTEK and swing later.

PALM hits day low 14.44

Covered PSPT

I covered PSPT on a Dow uptick. I hate those upticks, they give me the wrong read. Should have held on until the day ends.

US beats ITALY

I stayed up all night watching the world basketball tournament. US beat Italy... no no no, more like, Carmelo Anthony beat Italy. That dude was on fire. Lebron was crap. Dwayne was good. Chris Paul had his "worst" game but still good. Good thing this team has Carmelo and Wade because they are the only two out there who are taking this minor league tournament seriously. Oh yeah, and Kirk from the Bulls is a good perimeter defender (all Europeans do is jack up threes).

Overall, the US gave their worst performance and still won. Domination. Why am I posting this trash here?

ILMN getting flushed!

No one is buying this stock on the dip. short aggressively (did i spel that right?) and hang on. The 3-month chart shows support around $28. If you take your profits today, that's fine too.

FTEK profit taking

This one could head back to $13 fast... depending if the longs get scared straight. I may hold on to this for a swing trade instead. I must also realize, this stock can also pop back up $16 too. Hmmm.

So far, as long as the market continues to slip on profit taking, these types of high flying stocks will take the hit the hardest.

... hit this harder please.

MLS support 18.65?

I can't figure this out. MLS should ave fallen back down to lower $18s by now. I don't see much buy orders + Dow is hurtin. Stubborn longs are keeping their ask price high. What are they expecting- A repeat of yesterday's spike?

OLAB erases gains

... this should have been an easy one to see. OLAB is now in the red. I expect the sell off to continue. There are no more shares left to short so if you're in, hold on and ignore any rally. This is an all or nothing gambling stock.

Note to self...

... good thing I stayed away from CTIC on a day I felt the market would sell

PALM dumped, RIMM too.

Okay, i'm glad I took a break from the monitor because I would have bought Palm at 14.68. Anyway, I forgot to mention that they had a PR stating that Research In Motion's BlackBerry (their #1 competitor) can now work with Palm's Treo 750.

...Investors on BOTH sides are not happy. Looks like investors want one clear leader in the industry, not this sissy partnership.

Seems a little market overreaction, but we'll see.l

I'm back

whoa, what happened?!

Okay, I need a break

My neck hurts. I have just a few stocks with active charts...

MLS- hoping this thing will fall.

PALM - looking for an entry point to go long

FTEK - looking to see if still a good swing short sell.

...i'll b back.

MLS headfake

That huge spike was odd indeed, but the stock has returned back to the 1-minute trend channel.

ILMN hurting

ILMN is now a dead cat. The 6-day chart shows ILMN holders are weak, and not convinced in the reversal. A good swing short.

ALSK is in trouble...

Someone is desperately trying to keep this stock above $13. If it can't succeed, this break-out candidate stock will fall hard.

MLS breakout... ouch!

Shoot. Buy-the-dippers are ruining my short in MLS. I'll ignore them for now. Don't tell me they will be rewarded this easy.

Covered MED

That was fast, and stupid. I covered Med because the weak holders are now out. Med will probably pick up and head back over $11. Or not. I don't care, I'm out.

Cover MED?

I'm sitting on a 5% day gain shorting MED. I'll stick around just a little more until market shows life

ALSK support formed at 12.90

Dow getting nasty... 11300??

Dow is approaching 11,300 which is a pyschological spot. Traders will view the rest of the weak in a bearish tone if yesterday's low gets taken out.

MLS testing key resistance

MLS might rebound if it can take out 18.81. Stock is very sensitive to the indexes, so watch the index too.

Dow fighting hard...

...to stay above 11,315.

MED in trouble...

There's no rush of buyers at the $11 level, and I don't see any significant supports until about $10.60. Still, buy-the-dippers may come in soon if sell orders don't pick up.

AUY hits day low

There's a lot of weak holders in AUY (Cramerites, is what I call them). These need to be shook out before stock can move up.

Note to self...

...market is tough in last few weeks of summer.

MED lowered support 11.01

I hate these whole dollar support levels, they are so hard to take out. But when they do, it's bad news for the stock. Let's see if the Dow can make this company lose more market cap weight.

MED critical support

MED is flirting with next critical support is 11.11.

ALSK shakin' out the weak hands

I got shook out earlier, but the sell orders are starting to pile in. Time to switch and swing with a short sell.

MLS takes out 18.70... finally

Next stop, 18.50.

Dow just took a slight jab

but MLS still hasn't fallen through 18.70.

XMSR looks fugly

If you want to swing long, don't touch this stock until a clear bounce has occurred. One analyst upgrade sent this giant company up 20% yesterday... what?! That got out of hand. The stock is flirting with the closest rally support at 12.88. Don't fight the trend yet.

Remember though, just because an analyst makes comments, doesn't mean the company is profitable. XM burns cash........ at an ALARMING rate.

Market in trouble...

I'm gonna jump the gun and say the market will trend lower today. Profit taking in XMSR is prett y significant, and techs like PALM have already dug themselves into a hole in the first hour of trading.

If u watch the Dow, keep your eye on 11300

KTCC searching for support

support at 5.60? Stock has fallen 8% w/n past hour

MLS short now

strong resistance at 18.85. Stop loss at $19.00 if day trading. Like I said, if 18.70 gets taken out... it will fall.

Focus: Home Building Stocks

After the 10:00 bearish news on the housing economy, there has been some sell offs going on in the home builder related stocks...

TOL
BMHC

I still haven't decided if it was a legit selloff.

MLS support drop 18.60

MLS support dropped from 18.70 to 18.60.

10:00 house news out

Housing sales are down (who the heck needed to wait for the report to realize that?!!!). The market recovered a little after the news came out. Still there's no well established trend. Wait for 10:30 to see true direction.

Dow Critical support 11,303

Stocks could be in trouble if Dow takes out yesterdays low around 11,300.

BOOM slipped below

BOOM has slipped below its rally support at $33.

CTIC ... don't

Note to self, don't day trade this on the long. Stock is stuck and is worth only 2% gain at best.

MLS support

A support has formed at 18.70. If this gets taken out. Ouch.

OLAB hits day low

this thing is gonna go.... DOWN!

OLAB 6.70 needs to hold

...or i'm out.

OLAB hurtin

I may be bottom picking...Not feeling good about going long here. Need 6.80 to break even

HOKU blast off!

HOKU took off without me, shooting +10% in about 2 minutes. Shoot. But resistance is strong at 3.70.

XMSR..... smokin!

Should have bought this baby. Volume has now hit 21,900,000!!! Stock up abou $2.00. I think a lot of new investors, but probably more old investors doubling down. Volume is incredible on Bear Stearns upgrade (which didn't impress me too much).

HOKU buy 3.15

I have to up my buy point because I missed out. Let's see if I get it this time.

Meanwhile, OLAB is a buy at 6.89! Finally.

HOKU buy 3.10

Looks like a buy at 3.10, now that I see 100,000 block trade at 3.05 on one of the exchanges. Resistance at 3.40.

Dow collapsed

Saw this one coming when support could not hold at 11359. I wonder if we'll close red?

OLAB almost a buy

waiting for 6.85.

XMSR looks good

XMSR doing good even though Dow doing blah blah blah. A buy under 12.80 looks good. I'm not sure how farther up it'll go though.

OLAB looks weak for now

This stock's resistance is dropping. From 7.30, to 7.20. Support, 7.06... then 6.90.

OLAB about to fall...

A great time to short was at 7.30. I tried, but no shares available to short. I will try to go long 6.90.

OLAB 7.15 short now

Optimal trade...
short 7.30
stop 7.35

cover 7.05

OLAB could fall hard

Buying has tried significantly. Stock may fall to 6.70 any moment; sellers are trying hard not to readjust there ask price... tick tick tick

MLS rebounding

MLS is rebounding, but will have to meet some huge sell blocks at 19.30+. Support is 19.05. Short near 19.20 for the entire day.

OLAB resistance

You really need to keep an eye on this stock. The overhead resistance at 7.30 is strong. Support is missing below. Don't go long yet (I'm trying to go long because I can't short)

OLAB squeeeeze

Olab is doing surprisingly good. Topped at 7.50 in last hour , forming a bottom at 7.16.

SGTL uptrend is now broken

SGTL looks bad on the 5-minute chart. Now I really wish I shorted this instead.

SGTL bottom, OLAB squeeeeeze

The Dow reversal back down took out SGTL's rally, but 5.14 looks like a good support. Meanwhile, OLAB squeezed out the shorts.

SGTL- what was that?

Stock fell apart and dropped much faster than it took to move up. $5.20 is resistance. Support?

SGTL falling

Shoulda went with what I saw. SGTL fallen through 5.21. Where's the support? I don't see much.

SGTL 5.20 - 5.30

5.20 - 5.30 looks like the range of the hour. The resistance at 5.30 is very strong. I need end of the day buyers to push us over.

SGTL... short now?

SGTL looks like a good short now, with stop set to 5.30. Support at 5.21 is holding up stock. But I went long since the uptrend is not yet broken.

Not Enough Action

Market got quiet. I have to do some mad screening for moving stocks. I want to place a swing trade short of NVEC, but no shares left to short! Why is everyone shorting stocks today? That's not a good sign for the rally.

Put your swing short orders in today.

Dow break out...

Resistance now support at 11349. Possible close in the green. Buy the dips? Maybe.

OLAB short

OLAB looks like a good short at 5.90+. Overhead resistance is strong at $6, and $6.10.
No shares left to short though... crap.

Dow reversal

Looks like Dow will be testing a key resistance point at 11349. Dow bounced off 11322 near noon time. I guess a lot of traders are done after noon.

8/21 Flattening

Weak Stocks

• BMHC
• MED
• GME
• RACK

Strong

• OLAB
• Energy stocks
• Gold stocks (Dollar is weak again)

Profit Taking

• NVEC
• RBAK
• NETL

I finally built my day trading page. This is, of course, for educational purposes, and especially for my purposes (I like to "think out loud" while I trade).

Some important rules I follow:

• Trade in the direction of strong trends (first hour of market)
• Trade broken down trends within established ranges (when market is normalized)
• Set strict stop losses
• If profits are lost, set stop loss to break even
• 1%-1.5% stop loss (depending on pivot points)
• 1% gains are okay
• 2% are better
• 3% is awesome, but don't count on it
• 4% quit dreaming, you can't do 4% a day.
• 5% ...that was by chance, not skill.

Why the 1% stop loss? I don't know, I guess I'm a believer in probabilities and statistics. How can I put it? If you trade in the direction of the trend, the probability of you getting a 1% gain is better than getting a 1% loss. Let's say, for example the probability of you being correct is 2 out of 3. If you make 100 trades, then you'd have a cumulative gain of 66 1% gains, and 34 1% losses, or a net 32% gain. Let's improve the gain to 2%, then that's 66 x 2 = 122 - 34 = 88%. Let's improve the streak of wins to 3/4, that's 75 x 1% = 75 - 25 = 50% gain. Now improve that to 2%, that's 150 - 25 =125%.

... numbers get better. The key is discipline... that's one tough key! In this model, time is your friend. The longer you extend time, the more trades you make, and therefore as long as your winners > losers, you'll eventually grow. Again, over time your capital will grow and therefore when your principal investment grows your profits will grow.

...too many people try to day trade going after the big winners, and also pick up the big losers.