Amy,
Thanks for the "clean cups." I lose track of the updates if somebody doesn't give us the heads up.
Jeff,
That was hilarious. Your watch lists have been a great learning tool for me. I don't take most of the trades, because my trading style is a little different, but I LOVE studying the stocks and watching them for weeks. It helps me learn. And the ones I do take, I usually make money unless I have a wrong entry or exit strategy.
Thank you for all you do even if others don't appreciate you.

Michelle

Jeff,

Even with the rally the past three days, the VIX hasn’t dropped as much as one might think. Would this another reason for your skepticism on the current rally?

Yea, I was basically sitting for the closing bell waiting to see which way to go on the S&P(good thing I waited too). I was going to buy puts because it looked like it would finish under 1490, but then it rallied and finished at 1497. part of me still feels like this is a fake out, but I can't exactly argue with it breaking resistance and previous support, I ended up not buying calls though figured I would wait for the market cast and what happens tomorrow to possibly take a position. Would anyone think a straddle would be good at 1500 with some time to take advantage of the volatility?

Hope people are fairing better than me as of late, haha.

Ben

I was very bullish coming into today. In fact, I was playing a big bounce from Friday into today, and I must say I played it perfectly. However, I began paring back my bullish positions as the rally faded in the final hour. Perhaps it was because of the week I had, and I didn't want to give back. I know the market shot right back up, but that selloff was a reminder that there are bears out there and they're flush with cash. They're going to try and sell off this market again.

So am I still bullish? I'd say I'm neutral. I think there's as likely a chance that we shoot up and test old highs as drop down to test recent lows. However, the risk is definitely to the downside. The best thing to do here is be aware of the volatility, make sure the trades you're in are SOLID trades with established trends/breakouts. There are some great bullish trades to take, and also some great bearish ones. Work hard and find the best ones.

My suggestion is this: This is not an easy market. Don't overtrade. Don't take on too much risk. If this is a correction, great, the bull trend will be re-established. But if this is part of a top, you can get washed out and washed out HUGE. In many books it says the hardest trading points are the tops and bottoms of trends. Be aware that we may be at one of those points now. It's not about being right and wrong, it's about preserving capital. Careers aren't made in a week, or even a month. They're made by surviving and making money over the long-term.

That's my rant. Hope someone gets some value from it.

Stupid question.... what is "clean cups"?

I echo Bretts comments.

I value Jeffs Blog.

I LOATHE the jerks that are complaining about Jeffs watchlists and trying to make trouble for him.

Sorry to rant about that earlier too. It just gets me going that some folks want to blame their poor decisions and inability to make there own decision on the like of Jeff.

Who do they think they are anyway? They are LOSERS, capital letters, LOSERS LOSERS LOSERS.

Get out of here if you cannot LEARN. Call up Schaeffers Investment Research if you want someone to auto trade for you. Give them your MONEY, then call and cry to them, but get out of here you low life mutts.

As matter of fact, instead of crying about Jeff, meet me in the junkyard lot and I'll give you a reason to whimper like the coward, low life, turd smelling, pot bellied loser that you are.

Sorry addicts, but this really has me peeved..

Really peeved.

This is one of the best communities I have seen for traders to share ideas and learn, and the balls someone has to fricken complain...Man o Man would i just love to have a few minutes with you, whoever you are, that would stoop as low as pig shit.

Sorry Addicts...

I really dont mean to rant and rave, but this is nonsense. the nerve of these people. Can you imagine?

You want tips, jerks, heres one.

Bite me.

I apologize for the rant to all the good addicts here..

Wow Raimo! Tell us what you really think! C'mon now, don't hold back. :)

I hope your guns are locked up!

Beer.... may help.... may

Well said Raimo, all I can say is this is a very good forum and Jeff deserves all the thanks in the world, I wouldn't be up 40% in 3 months without him and the marketcast.

PS. Jeff nice call on HLYS I wish I would have been in this one!!!! Shoes with wheels, ya right!

PerryP

GUNS!

I dont need no stinking guns. I am due for a good old hand to hand HAGANAH based beating to give one of these MORONS that blame Jeff.

Then a yuengling in celebration afterwards..

I still cannot get over it. Where do these guys come off anyway.

Jeff, I am BEGGING you, just give me names buddy...

I used to do odd jobs for cash and make things go away.....

Brett,

CME baby..

mdoggm,

"Clean Cups" means Jeff has posted a new article (thread). It's a reference from Alice In Wonderland and it has stuck.

Raimo, you vent for all of us. Thanks.

Joel R.

?Raimo?? ?Long Island?? ?odd jobs for cash and make things go away?? sold your ?business? at 42 and moved to PA?.

Hmm Hans gapped up nicely today - question - do you use stocks that gap as an entry if there looks to be more a move involved?

Pt

I will have to wait on HANS to retest the gap or support. Old resistance is right around 50 which the price action touched today. Just a thought...

Jeff, where do you find those videos? HANS that is a interesting one I will have to evaluate myself but I have seen their WOW vans around and wondered what it was. Not an energy drink consumer yet.

Ramio, as I watched that video I could only think of you jumping across that desk at those complaint creating ungrateful...anyway was a nice visual.

Brett, whatever is causing you to write what you are writing I hope it continues as somehow it is connecting with me and I think we should title you Addict Oracle. A few months ago I would have read them and said yep I know that. But now I have experienced it, there is a big difference. I am sure a few months from now you will say it again and I will get it even more. I am working hard to get there as fast as I can and thanks all for your help.

So Grant/Liz did you break bread with the big guy?

I just read that GS rumors are what was credited with the sell off late in the day. Made it sound like the rally would have kept going if not for these rumors as proof, it was pointed out, that as soon GS said the rumors of a negative report was not true the market continued the upward trend with due speed.
Just found that interesting. Who knows the why or really cares just interesting how the market reacts and if a boat load of people believe this...

Raimo,
Thanks for the rant. It's the kind of thing that sits in my belly and there ends up being a dead skunk in the middle of the road and no one knows why. I too, can make things go away, my friend. Only I think my things are smaller than yours. Perhaps my crystal ball is smaller than yours. I'd hate to admit it but it is possible. I think all of us were thinking it but were lacking the testosterone to actually say it. Like Bob I could just picture you being the guy leaping accross the table and asking the other guy for his sister's phone number. Or something like that.

Bob (and Pam) very interesting. I have no idea what caused it but I'm thrilled it happened. I'm down to 6 plays right now, and had a good day. Same in the RRSP.

Thanks to Brett again too. Your posting on your June and July was a real eye opener. I sometimes get down on myself and it's nice to hear that everyone has those times and you can recover from them. Congrats, too!! That's a big deal to go through all that in your first month and a half of trading full time. Nicely done.

hey jeff,
been away for a few days. just wanted to say pay no mind to those that cant take responsibility and know that you have helped many folks including myself. stay well man!
brendan

Great Marketcast! How many times does a man have to say "if you take this trade, make it your own"?

Looking forward to Mastertalk...session 2?

Amy