I'd like to see the DOW bounce off 13,400.....

Yeah, Jeff. I am long a little stock in CMG but today is looking a bit like a head and shoulders breakout to me. Anyone else see that? Maybe Brett's burrito will help but this thing has to cover a lot of ground between now and the end of today to convince me.

Me too, Michelle. Hang in there. Everyone, don't panic, just follow those rules.

Liz, STR would have to break down quite a bit more for me to throw in the towel. It's pulling back right to the point where I thought it might. I just wish I would have waited to the end of the day like I have done on every single other trade ever before jumping in. My first experiment with jumping in intraday didn't pan out so well, but I'm still pretty confident it will work out. It's got a strong trend and I'm in until that really breaks.

We shall see...

Today, so far, is a perfect day. All my trades doing EXACTLY what I owuld like them too....

Gonna be a Yuengling weekend for sure..Of coures I owe C2 some coronas..

On my last post, I said that Interactive Brokers charges .75 per trade - I meant .75 per contract. Has anyone used them before? Also, it looks like I will be exiting RL at the close if it closes below 98.14. I bought a call yesterday. Any comments will be appreciated.

Okay, Bob,
I am going to turn my account over to you. At least everything is holding while the market is still heading down. The market has culled my account except two trades that are hanging on by the skin of their teeth (PVH call and MHS.) I am glad somebody is getting this stuff. I am about half and half.
Brett,
You'd better get a midday coffee with that burrito. Whew!!
I am going to go to do some editing work on my computer and pu the market out of sight and hopefully out of mind.

Michelle

Judy,

I use them!

If we're in a bull market, somebody better wake up the bulls.
Maybe they stepped out to get a burritto, too.


Michelle

The bulls had the burrito last night, quite a few of them, that is the problem.

Oh ... Mr. Kohler .. what IBrokers would have paid you for those 3 words .... :)))) "I use them!" I'll visit that site later today!

FYI gang: OptionsExpress offers pattern searches under CHARTS / Advanced .. no extra charge.

Something I have learned from you guys and Jeff ... stay out of watching this market right now ... it's summer .. volume isn't exceptional. Go have a nice lunch .. come back during the last hour and see what's up ... Then make Chart/Rules based decisions. Seems like I read emotion around here today more than usual for a bunch of great traders that are teaching me ... :)))))

Judy,

RL, I bought into yesterday too, I have diagonal support at ~$95.50 today and horizontal support at ~$96.50. RL has been hitting the diag support and bouncing off of it on very well in the past.

In my 'opinion', it looks like it's going to retest diag support.

Having said that, use 'your' rules to manage this. Don't get freaked out and panic...been there, done that. If you're not comfortable with the support and you exit, understand why you are exiting.

Several of my positions are doing similar things and I'm holding unless they break support.

As Raimo said in the last string, getting out early can be very costly. Evaluate and leave emotion out of it...as much as possible. I've gotten much better over time and the 'family' support makes it easier too!

Emotion is affected by charts.
Charts are unaffected by your emotion.
Follow the charts, or follow your emotion....

That is the question....

Liz

i think it was you that was looking for good movies,,,one that we saw recently was Click,,,i taught it had a great message,,not for little ones though,,

sue

Raimo-

Moving away from Yeats and heading towards Shakespeare?

Benton-

I'm putting my "emotions" here on the blog so I don't put them in my trading! Days like these last few tend to bring out the whiner in us (or just me).

Jeff-

Thanks for the SELL button. Now whenever I'm tempted to do something foolish I'll just bang my head on the computer and hope it hits the sell button. The headache will be enough to make me re-evaluate my charts and double check my rules.

liz

Bob,
Your wish is my command. Dow bounced at 13,480. Look out here come the Bulls.

Speaking of Bulls you Elk hunting this year?
Cheers

Patti--Investools quoted me $1,500 per year for Mastertalk. I think that is a little unreasonable. Especially because I would only listen when Jeff teaches, which isn't every week. Oh well, what can you do.

I will second Bob Raimo by saying that my account is also holding up pretty well in this market. A few little bumps, but nothing major.

Long: GRMN, PCU, GTRC and POT
Short: KIM, PFCB, KMX, ADM and LCC

Still paper trading though... But I have to say, I've been diligent with it. Sometimes I have to remind myself that the trades aren't real!

Hi Sue-

It was actually Michelle that was looking for good movies. I was just trying to remember good movies. But thanks for thinking of one. I liked the movie 'Click'.

liz

Yeah Liz!

Conditions are never "just right". People who delay action until all factors are favorable do nothing.
-William Feather

Just what I needed to hear.

John,
hope the Fathers day trip was nice for you, mine was in Missouri and Kansas, 'nuff said.

Brett,

CEO's, strippers, etc.... Tell me more about your dream job.

GBHARDCORE