Hot Pick Of The Day

[spikefader]

I traded today based on the chart the way I saw it... looked like 41 was resistance, and if it broke, then a confirmation would come at 41.06, so I set my trigger at 41.07... Minimal loss on a stock that I'm not too familiar with. In this case, I didn't lose too much. It's the days when I make a good 2% or more on a daytrade that more than make up for days when I lose 1/5 of 1 percent.

I don't think WON daytrades... but I could be wrong. I was not willing to possibly lose 7% in one day

peanuts! I commend you on your use of tight stops and the logic behind them and the discipline to stick to it.
You are HUUUUUGE!

[New-born baby]

EBAY. Channel short today, confirming intraday pattern. Caution longs.

A pop to R1 (24.66) offers risk of 2.4% and target of 35%, r/r of almost 16. And such pop would create a 2-day chart SHS. I'm bearish on the market folks and this strength is to be sold into imho.

Good luck all.

Nice calls, Spike. I am bearish on the market, too. Vector working for you?

[Rob]

You could be correct. Price action today will tell us something.

She's looking like there are more buyers than sellers again. So what do ya make of it? If it closes up here or higher (it's 33.90 as I type this) is resistance now officially busted or what?

[New-born baby]

She's looking like there are more buyers than sellers again. So what do ya make of it? If it closes up here or higher (it's 33.90 as I type this) is resistance now officially busted or what?

I am not short IMCL. I have nothing invested in her at this time. But what I would say is that these past two day's reaction is normal price action on a bearish chart. The chart has not yet turned bullish. From your post about the rumors, what we are seeing is simply an emotional response to what may happen. According to Dow Theory, the jump the past two days are just the beginning formation of a bear flag. As the chart matures we will be able to tell more, but as of now, it is still bearish.

Best with it, Rob

I forgot to mention: resistance has been $34 the past couple of days.

[New-born baby]

My trigger activated at 40.8, and I opened a short position at 41, with 7 cent stop loss set. No limit set on the gain... I'm watching it intraday right now and if something looks appealing, I will take the profit. Otherwise, my risk is 7 cents / share.

I deleted my buy trigger

Turned out to be a nice stop, eh? TRI has just turned bullish big time. Defensive stock.

Rob didn't know you were d/t the dog.

[spikefader]

Nice calls, Spike. I am bearish on the market, too. Vector working for you?

Thank you brother New-born! Yep, Vector with sensible risk control always puts the numbers on my side and more importantly me on the right side of the market. It actually just generated a swing short signal about 20 minutes ago, which lines up with the 5th impulse completion on the DOW, that's into that 11300 price resistance. I suspect we may see 10800 again in the next month. But as always, I'll be led by the V. I'd be happier if V lined up with the count better (say a C failure), but ya can't have everything! It's just closed bearish again today....and that Dow candle isn't inspiringly bullish is it?

[Rob]

Turned out to be a nice stop, eh? TRI has just turned bullish big time. Defensive stock.

Rob didn't know you were d/t the dog.

NB, I'm not. I rarely, rarely day trade. I was just curious why Peanuts only allowed 7¢ for a stop on a $41 stock. He explained his reasoning, and I accept it. I don't think I'll be trying that any time soon though. One little hiccup and your out the brokerage fees on the round trip—even it then proceeds to nosedive the way you thought it would.

[jiesen]

NB, I'm not. I rarely, rarely day trade. I was just curious why Peanuts only allowed 7¢ for a stop on a $41 stock. He explained his reasoning, and I accept it. I don't think I'll be trying that any time soon though. One little hiccup and your out the brokerage fees on the round trip—even it then proceeds to nosedive the way you thought it would.

I shorted CNXT at $128 but got stopped out at $132. Haven't really used any stops since.

[Rob]

Holy Hedge Fund, Jiesen! Look at the dough you coulda made!

What did it peak at by the way?

[peanuts]

NB, I'm not. I rarely, rarely day trade. I was just curious why Peanuts only allowed 7¢ for a stop on a $41 stock. He explained his reasoning, and I accept it. I don't think I'll be trying that any time soon though. One little hiccup and your out the brokerage fees on the round trip—even it then proceeds to nosedive the way you thought it would.

If I include the brokerage fees, then I lost 1/3 of 1 percent. Still, 2% days are ahead, and I will make up for today's minimal loss when they come. I try to not even consider the brokerage fees. The big winners take care of that cost. Besides, there are people out there that spend $15 a day on a cigarette habit (not me and you, Rob). My habit of stock trading only costs me $10 per trade, and I don't make a trade every day Seems to me that I've found a better alternative from smoking. Of course, instead of cancer, I could die of a heart attack

[Rob]

Of course, instead of cancer, I could die of a heart attack

lol ... especially on short trades!

[New-born baby]

If I include the brokerage fees, then I lost 1/3 of 1 percent. Still, 2% days are ahead, and I will make up for today's minimal loss when they come. I try to not even consider the brokerage fees. The big winners take care of that cost. Besides, there are people out there that spend $15 a day on a cigarette habit (not me and you, Rob). My habit of stock trading only costs me $10 per trade, and I don't make a trade every day Seems to me that I've found a better alternative from smoking. Of course, instead of cancer, I could die of a heart attack

Peanuts, et al,
You ought to be with IB as your brokerage house. If you shorted 100 shares at $41, and then lost 7 cents per, for a total of $7, your sell and buy orders would have been only $1 each for a total loss of $9 on a $4100 trade. That's just .2195 %. And if it were 1000 shares, the fee is only $5 each way, or a $10 commision and a $70 loss for a total of $80 on a $41,000 trade. Not much

[peanuts]

Peanuts, et al,
You ought to be with IB as your brokerage house. If you shorted 100 shares at $41, and then lost 7 cents per, for a total of $7, your sell and buy orders would have been only $1 each for a total loss of $9 on a $4100 trade. That's just .2195 %. And if it were 1000 shares, the fee is only $5 each way, or a $10 commision and a $70 loss for a total of $80 on a $41,000 trade. Not much

I really liike all the features that I use with my current online discount broker... except the price, of course

[New-born baby]

I really liike all the features that I use with my current online discount broker... except the price, of course

Peanuts,
Question: what feature does your online broker have that IB doesn't? My guess is--and of course, I don't know for sure since I don't know who your broker is--my guess is that there are no features IB doesn't have. IB really does have a lot of features.

I just mention this so that I might save you $$$$$$$. That's what friends do

[peanuts]

Peanuts,
Question: what feature does your online broker have that IB doesn't? My guess is--and of course, I don't know for sure since I don't know who your broker is--my guess is that there are no features IB doesn't have. IB really does have a lot of features.

I just mention this so that I might save you $$$$$$$. That's what friends do

Thanks New Born Baby. Saving a buck is one of my most favorite things to do. I will poke IB, flip it over, twist it around, shake it up, and tell you what I think.