Berkshire,

I'm tempted to believe you about ESRX, but my problem is that little S/R / EE i drew just under 64. Blasted rules! =)

Jeff,

Great list! You might want to consider FDP on your buy list

We now clearly need a FOO Fighters song to send off the day.

Cameron,

Different group (crops) but you are right. Still a good looking chart.

Jeff,

A little confused on ADM, do I eat what they produce?

Berkshire

TSRA - posted earlier - it was right under my nose. On the 5 yr chart (yes, Berk - had to go out that far) how about Apr $20 NP's $1.20 6% rtn for 21 days. Plus, huge option plays going on. Short interest < 1 day.

Berk,

ADM - corn products... at least we buy corn syrup from them...

John

Jym,

I'd give a second to that.

Berkshire

John,

Thanks...reading closer...much closer, I see the connection.

Thanks.

Berkshire

Sean M,

Hey, Sean, based on an earlier conversation, I'm wondering if you are noticing longer-term diag support/resistance holding up better than horizontal s/r in this environment. The former is faring far better than the latter for me personally.

What does that tell you Sledge?

Berkshire

Berk,

I guess there are no patterns or horiz lines holding up in this market for more than a few days. Worse than ever lately, it seems. What are you seeing? Is there only room for daytrading in this market? It's starting to seem that way. Holding positions overnight is killing me. All that BSC money is slowing eroding.

ADM-

Archer-Daniels-Midland Company is engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. The Company's operations are classified into three business segments: Oilseeds Processing, Corn Processing, and Agricultural Services.

Sledge,

The longer term a support or resistance level the better. I try to trade S/R levels that have at least 3 points of contact using closing prices but more points of contact make me happier. If you were to push me for an answer as to which I like better, I would have to say a long term diagonal S/R line. I have been trading more horizontal S/R lines recently.

I read that too, Jeff, but then you said FDP was crops. I know FDP is more like BG, but "I" thought (there's my problem right?) that FDP was more appropriate for FOO than ADM.

I know it is your dream engine, so I won't complain. Just a little confused.

Berkshire

Sean, Berk,

It's like I've gone to a party at Mr. Market's house and accidentally dropped some cigar ash on his carpet. Now he's making me pick it up...with my anus.

Sledge/Berk

What does diagonal resistance/support holding up better than horizontal res/sup tell you? Now that you mention I notice that as well, but lack the brain cells from a 2 week stint in
Amsterdaam to determine it for myself.

Time stamps are all outta whack today. My posts are all out of sequence versus others. I'm responding to people or asking questions, but my post will be ten spots back, so I'm sure they're being missed.

Step,

I think the sideways direction of this market, being stuck in a range, means that horizontal s/r is being broken over and over as the stocks trade over and under these lines. I'm starting to think that I need to learn to daytrade. I don't even know what a pivot point is. Dammit, this means more trips to the ol' bookstore.

Jeff, Westy, Raimo, F2T,

I know you guys like to daytrade. Have you had any better success in this environment versus October? Something you'd recommend I do?

Sledge,

It tells me that the markets are probably in some hidden pattern trying to rope in both bulls and bears. A nice fat triangle would fill the picture. Day-trading has been working very well for me...taking anything around 30% profit.

The fact that the LONG term support levels are being called upon automatically makes me think bearish. If a 10-year trendline has been broken, it is a little hard to be bullish (yet, I try).

I am not sure about the "overnight risk" everyone complains about. It's not like this market is swinging like it was 2 weeks ago. There was "overnight risk" then.

The fact that the $VIX is sitting comfortably at a level un-seen in over 5-years is another "bad" peice of news.

It tells me to be cuatious, very very cautious. Especially if we don't crack 12750.

Berkshire

2nd post:

Time stamps are all outta whack today. My posts are all out of sequence versus others. I'm responding to people or asking questions, but my post will be ten spots back, so I'm sure they're being missed.

Step,

I think the sideways direction of this market, being stuck in a range, means that horizontal s/r is being broken over and over as the stocks trade over and under these lines. I'm starting to think that I need to learn to daytrade. I don't even know what a pivot point is. Dammit, this means more trips to the ol' bookstore.

Jeff, Westy, Raimo, F2T,

I know you guys like to daytrade. Have you had any better success in this environment versus October? Something you'd recommend I do?

Ouch Sledge,

Better hope that ember is out...

Berkshire

Sledge, that is hilarious. While your down there can you pick up the quarter I dropped? Ahh, just keep it.

Step,

Let me know next time your headed that way. :)

Berkshire

I'd like to give a shout out to all the cigarette smokers out there.

Thank. Parent company MO has just given me 50% in 2 days.

Berkshire

Berk, I am moving to Eastern Europe towards the end of this year. Bring it. Well trade from around 4pm to 10pm and then drink absinthe.

Sledge,

I'm in JEC right now and had a nice 20% gain at the close yesterday. Since JEC didn't even get close to my exit, I didn't think twice about taking gains. Now I'm down about 15%. It's frustrating to say the least.

Long: VIX volatility please
Short: Big Bad Ben Bernanke in the Dollarcopter

Jorge,

Wow, you and me both, man. JEC was in the green, now in the red by about 12%.

Step-

Absinthe kinda makes one feel funny... but being in Amsterdam you're probably use to feeling funny...

JEC is making me feel funny but not in a good way...

liz

Time stamps are all outta whack today. My posts are all out of sequence versus others. I'm responding to people or asking questions, but my post will be ten spots back, so I'm sure they're being missed.

Step,

I think the sideways direction of this market, being stuck in a range, means that horizontal s/r is being broken over and over as the stocks trade over and under these lines. I'm starting to think that I need to learn to daytrade. I don't even know what a pivot point is. Dammit, this means more trips to the ol' bookstore.

Jeff, Westy, Raimo, F2T,

I know you guys like to daytrade. Have you had any better success in this environment versus October? Something you'd recommend I do?

Clean Cups...wow, that's a first.

UCLA

GENZ is again breaking out of a rising wedge pattern at 73.50 with a target of 5 1/2 pts or 68. Sooner or later it surely will breakout. Very low vol here.

Jimco

Liz,

What do you make of USO? I was up 280 per contract yesterday and now it take a little breather and the market makers decided this is enough to take half of my profits. Jerks.

Does anyone see a cup pattern forming on amln? I'm not the best at picking out patterns and what all has to show up before the pattern materializes.

Wish my stock picking was as good as my madness picks. 8th place with a bullet.

Sledge, I was not a day trader last year. This year. I'm just a fast trader. I feel like I sneak into a stock grab it & work on getting a fast profit. To day trade - it is really not me. This trades are all in my LLC accts.

JCP - got some Apr $37.50 NP for $2.10 5.6% rtn & $35s for 3.15%

Somewhat risky but long term, pretty strong bottom - all I'm doing is balancing out my NP's in my IRAs.

nice! what's your favorite out of those

Berk

I bought into ZMH this week and was wanting to get your opinion on this stk. bought the apr80call

John

DV, ESI & STRA - the schools are getting hit hard today. What's going on?

John,

ZMH - I do not like ZMH with such small moves of recent. It is a great "selling option stock" for NPs or Bull/Puts. Right now, the MFC intermediate is making lower highs plus over the week-end your Theta with a snail pace price movement is going to hurt you.

I am not sure I am on board with kft yet. Are you looking at the sector? A P&F Chart looks like it wants to take it lower, and I don't see the Stoch or MACD supporting it either. I have a friend who knows somebody that was related to some people that told them that Kraft had 1.25 billion in unhedged inputs. Hopefully they took care of that on this last dip commodities took. Are you anticipating a breakout to the upside? It has been trading into a symmetrical triangle.

NKE - weathering the retail storm & this is looking more like a hammer. Oher vitals MS - moving up which will dampen down turns, MFC short term & md term moving up. The only thing left is the intermediate. Still watching!

NFLX

Any buyers?