Hot Pick Of The Day

[peanuts]

Hot pick of the day

Wow! look at the action today in APOL. Looks like it just got pushed off a cliff.

Going to $30? Maybe?

[skiracer]

Peanuts, in all due respect your post is a little condescending don't cha think? You may not be so cocky if those comfy little steel tariffs get eliminated...my guess is that the upcoming election will bring a new focus on those tariffs. And what makes you think interest rates are going up? What are your credentials to make that prediction?

The guy is probably a nice guy but he has that distinct edge to him that is alittle abrasive and authoritative. I think it has to do with youth. I still think he will smooth out over time like a bottle of wine. We just have to take the cork out of his ass and let him breathe some.

[peanuts]

you guys are cracking me up!

[Tatnic]

We just have to take the cork out of his ass and let him breathe some.

That post remined me of Howard Dean....remember when he insulted everyone south of the mason dixon line? And now he's the head of the democratic party...smart, real smart. And the dumocrats wonder why they can't win any elections.

[Gwhiz]

New born,

MCS looks like it ight have a bullish chart pattern, could you post an opinion?

[Lyehopper]

steel of old was not galvanized. All modern cars are made from galvanized sheet metal. This is also the bone of contention with car makers since its the galv. steel that has the highest tariffs and they're fighting tooth and nail to get those tariffs removed.

Looks like Galvanized sheet steel, better general construction and design, Use of plastics and use other "coatings" are a big reason that modern cars don't rust out so badly. Read this info you're interested....

http://www.corrosioncost.com/pdf/motorvehicles.pdf

My Super Superior Ford F-350 with 6.0 Powerstroke diesel is a 2003 year model and it has galvanized sheet metal in it. I know because I jammed the drivers side door into a rock wall (in the driveway) at my house as I was backing up, CRUNCH!.... YES, I had the door open .... It damaged the door and cracked the paint, I chipped the paint off in a small spot and it has never rusted.... AND I can clearly see the zinc coating on the steel. I really need to get that fixed btw.

[Tatnic]

That post remined me of Howard Dean....remember when he insulted everyone south of the mason dixon line? And now he's the head of the democratic party...smart, real smart. And the dumocrats wonder why they can't win any elections.

I meant peanut's post, not skis...which is pretty damn funny! Glad to see peanuts has a sense of humor though.

[Tatnic]

Wow! look at the action today in APOL. Looks like it just got pushed off a cliff.

Going to $30? Maybe?

pisses me off too. I had noticed apol weeks ago as a potential short candidate (the net tangible assest were coming off a damn cliff), but took my eye off it, esp when it was announcing earnings. What the hell...win some, lose some.

[skiracer]

That post remined me of Howard Dean....remember when he insulted everyone south of the mason dixon line? And now he's the head of the democratic party...smart, real smart. And the dumocrats wonder why they can't win any elections.

Tatnic,
I was just kidding with him and I think, hope he does, that he knows that. Anyway if I really felt that way about him I wouldn't bother with the acknowledgement of the trade and the time spent to think about it to tell him what I thought. I'm sure it's no big deal with Peanuts. Is it Peanut?
I like that "Dumocrats" coinage.

[Tatnic]

Tatnic,
I was just kidding with him and I think, hope he does, that he knows that. Anyway if I really felt that way about him I wouldn't bother with the acknowledgement of the trade and the time spent to think about it to tell him what I thought. I'm sure it's no big deal with Peanuts. Is it Peanut?
I like that "Dumocrats" coinage.

I probly spelled that wrong...it should have been dummocrats, right?

[New-born baby]

New born,

MCS looks like it ight have a bullish chart pattern, could you post an opinion?

Very, very nice bullish ascending triangle. You really know how to find a nice chart, don't you? Ya know, you keep up this kind of work and you'll make some serious $$$$ in the market. Please keep mentioning them here.

[Tatnic]

New born,

MCS looks like it ight have a bullish chart pattern, could you post an opinion?

interesting question. I don't think the chart is supported by any fundamentals but if its not bullish then I don't know what is. A better question might be is it over-extended and would you buy it here? I wouldn't touch this on the long side but its not a screaming short either. The rsi is petering out compared to the price rise so that's usually a red flag, but the macd has not petered out so its not a slam dunk short. It has tried to punch up to new highs several times over the past few weeks with no luck, that's often times a sign it doesn't have any gas left, but not always.

[New-born baby]

interesting question. I don't think the chart is supported by any fundamentals but if its not bullish then I don't know what is. A better question might be is it over-extended and would you buy it here? I wouldn't touch this on the long side but its not a screaming short either. The rsi is petering out compared to the price rise so that's usually a red flag, but the macd has not petered out so its not a slam dunk short. It has tried to punch up to new highs several times over the past few weeks with no luck, that's often times a sign it doesn't have any gas left, but not always.

Some large holder is selling stock every time it touches $24.10. When he runs out of shares, then the price can run higher.

[spikefader]

Spike,

I will compile what electronic information that I have, but much of my research is hard copy stuff... periodicals that I get in the office- research papers, marketing reports, etc. Is there anything specifically that you are looking for?

I'll post it on my thread, if you don't mind

Thanks in advance. I'll check your thread later. Nothing specifically in mind...just whatever food for thought you think is worth lookin' at.

[spikefader]

You guys need to learn your market mechanics better and not get frightened out of little dips.

Newbies today.... SssSss. Market mechanics?? .... hmmm. Sounds way too complicated for me, dude!

Hey, it's probably just dumb luck, Tats, but my market direction skills are doin' nicely this year, thanks.

Seriously though, some things never change, some things are just expressions of what has always been, and will always be... like human emotion that you allude to. Made it an earnest endeavor of mine to not only control fear and emotion, but to look for where it exists in a chart ... to look for "what is"....and to respect "what is" for the entire time "it is", and up until "it isn't". A detour from "what is" can sometimes reward, and in that case stupidity is mistakenly highlighted as apparent brilliance, and the bad behavior isn't corrected.

And with that in mind, Tatnic, from a purely technical basis ... nothing to do with ppi or cpi or pee in yer eye, I currently see high potential for correction from current levels. Early yesterday? Obviously......and that's why stops save lives .

But for what it's worth, today is the same story. "caution longs" from me. Price action and volume today supports the short potential. And my +168 YM points have been from shorts, save one long setup at the open, so the bias is being rewarded nicely. All are welcome in my live chat, by the way.

Now .. AAPL's earnings tonight might be wonderful and it pops. I actually like it long while it stays over $72.60 fuzzy support, but below that and there's the TA reason to sell it down to the gap. There does appear to be a bearish diamond forming AAPL.

And I note EBAY reports tonight too.... Won't be surprised at all if it gets whacked. Shorting the pop to 29.30 is what I'll be doing, and hopefully catch a nice ride down. Caution longs there too

Ya know what I left behind a long time ago is trying to determine which way the market is going to go...I can appreciate Spikes reasoning because he trades in the Dow mini futures I think but other than that I don't think in todays world it matters ... control your emotions and what you think rather than what you see it doing.

Ski, I respect that, and you raise a good concept; whether it's worth trying to anticipate broader market direction. For me, it's worth it. I have enjoyed being right much more than I'm wrong, and if I'm wrong the bias is not wrong for long. The market direction stuff I've posted about in recent times ... eg. weekly $VIX closes over 18.00, fuzzy counting of indexes, Vector stuff, have for me been excellent tools that have correctly predicted the recent rally, and selloffs and rallies before that. Newborn posted some positive thoughts about that VIX TA I did around the time of the bounce, and I agree with him; it's stuff you can use for life. It's not mumbo jumbo or smoke and daggers, and it was uncanny how timely it was. Is it the be all and end all? Is any TA the be all and end all? Nope. Patterns fail. Resistance breaks and support fails. Chartists are flexible and happy to flip bias if circumstances warrant. But bottom line is there are certain "things" that happen relative to other "things", certain reactions to long-term technical events or conditions, that can give you a distinct edge when trading both individual stocks and/or futures. It's much like the phrase "you can lead a horse to water but you can't make it drink". And you can hardly blame anyone who is skeptical of TA, for there are many ways to get lost in TA, and lose fail in stuff that's 'supposed to work' but doesn't.

The bottom line though, is yes Ski, trade what you see and not what you think. And that's what I always attempt to do. I try to trade what I see. The minute I start telling the market what I think it should do is the minute I'll get my head handed to me. But despite that, the market does whisper things, and if you listen closely and assign the correct weight to the TA, and remain flexible, you can use those observations and that knowledge to not only find great setups, but also do your best to stay on 'the right side' of the market at critical times. That's not to suggest you must trade in line with that bias. I don't do that at all. Eg. I'm long ELN when I'm expecting significant market correction. Why? Because you and I both know that stocks do run against broader market action. ELN is one of those stocks..it's crazy, we all know that LOL. But also, more importantly, you shouldn't ignore great swing TA setups that happen to be against any broader market bias you might have. And you and I both know the reason one shouldn't is because a) the bias may be 100% wrong, and b) one would be in a constant state of swing confusion if they did.

What a mouthful all that was! Apologies dudes. I'm actually not telling the market that it should go up or down...but I am observing that at various points in time there is greater potential for movement...significant movement, and we should all look for those moments and respect them. At the end of the day it comes down to sensible money management, good risk/reward parameters, discipline, risk control, and diversification. But you already knew all that, ski

Best to all.