I'm Back
Monday, April 7, 2008 at 08:06AM You are all very lucky. I almost extended my vacation by another week.
Sitting here this morning has me feeling like a market virgin all over again. It is tough to jump back in having missed a full week of activity. Plus I haven't complied any research yet, so I am sitting here with no real coin in the market and nothing on deck to trade. This is the part of "vacation" I hate. As you can imagine, this is the first thing I plan to do today.
While I am sitting here with nothing to do, the biggest question not on my mind is..."does the market want to go higher?"
I got the breakouts last week that I wanted to see in select agriculture, steel, and energy names. With the exception of a few longer term holdings, I missed some of the ones I have been watching for weeks. Sucks.
Speaking of "missed," I have to admit I left one hell of a watchlist behind last week. I am pretty upset that I wasn't here to trade it. In my absence, I hope you took full advantage.
Like I said, I am going to hit the street, read some news, and start compiling my watchlist for the week. Get ready.
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Reader Comments (194)
Jeff, All of a sudden, I had this feeling...Jeff is back!! Glad you are back buddy. Your posts have been awesome.
Welcome Back!
GO KANSAS!
Jeff,
Welcome back!!
Well the usual suspects are groing...POT, AAPL, MA, MON, RIMM and so forth. I can't wait for your new list.
Steve
Jeff
Glad you are safe and back....
Eddie
Hope you had a good time glad to have you back
Welcome Back!!!! I guess you just don't realize how much I have come to rely on your watchlist. I LOVE IT every week!! Thanks for all you do.
Thanks ya'll...
Soon enough I can say... "It's good to be back."
Missed ya, Jeff
C2,
I can relate to what you are saying. I barely post anymore,just enough to let Jeff know I'm around but that's it. Despite some the change I agree with Raimo about going back to the discussion boards and keeping this area for Jeff and daily topic discussion. Clearly there are several people who have lots of time on the computer and therefore post often.Please stay,even if it's as distant visitor. I believe the blog is continually changing and it will get better. You've been here as long as me(if not longer)and I do not want you to depart.
Here's my email if you'd like to stay in touch kobeg1120@yahoo.com
Raimo,
Thanks...I know I screwed myself entering early. We could get the volume today, but I am skeptical. I suppose holding to EOD usually doesn't kill anyone.
I assume in a situation like this when analysis hasn't changed that you usually let the trade play out?
Thanks again.
Berkshire
GNK about to hit some resistance
"Sitting here this morning has me feeling like a market virgin all over again. It is tough to jump back in having missed a full week of activity."
A little market foreplay first Jeff and you'll be right back in the groove! Some research, a little recap of open positions, maybe a small taste of CNBC to get you in the mood...oh, and a Monster Java!
Glad to have you back in the driver's seat and hope the vacation was great.
I ALWAYS wish that I had taken an extra week vacation. Nice to have you back Scooter!
RM,
GNK is at three different fib levels that all reflect the same 60.50 resistance.
Berkshire
Jeff,
WELCOME BACK ... It's great to have you back ... You were missed!
Good to have you back. Glad to hear you had a great vacation. We find getting away really refreshes the spirit and energies us.
Yes, I made some money from the last watchlist. Let's get going this week. I am ready!
THANKS!
Yeah, I kinda wish that the discussion boards had an RSS feed on them too... that way you could see fresh posts (per topic) and see if there's anything of new that is of interest...
Its a bit unwieldy to jump in and out of each of the forum topic... and you're never sure if you or someone posts something, and other's followup or respond without regularly spot-checking.
I agree Popeious...Just not as smooth of an experience.
Berkshire
MA is poking its head into all time high territory moving up a nice diagonal trend line. ITM April bull puts have been melting theta like an ice cube on a sidewalk. I'm adding to my calls this morning.
Stan
C2
We are renovating our house, and I missed all the posts about you this weekend or I would've said something sooner.
You can't leave. I can't face those damn American's all on my own.
Besides, does this really have to be about you? What about our feelings?
You have to stay. Nuff said
Raimo- you asked if anyone was enjoying the ride on the AAPL cart (or something to that effect). I went long the max amount when it was at 128 and now I find myself in the odd position of being overweighted and having to sell some off! I can't bear to just dump them so I just keep moving up the stop loss and the first time it takes a breather I'll cash in a couple of bushels.
Stan
Berk,
I now have OII on todays call list..I may get in before I run out to baseball...I'd hold....see how the day plays out......
Jeff,
Hope you had a great vacation and Wecome Back!!!!
STP has been flying with the solars. If you look at the 20 day, 20 minute chart, and trade based on it -- it's at a pretty nice entry --- if you need some calls.
Thanks Raimo,
Market seems to have a little life left in it and pushing higher. I was looking to the 68 range, but it is a little questionable right now.
Berkshire
Jodi,
I can see that (though I am bearish) and Jeff cautioned me onetime about candle patterns in exponential trends. I see solid resistance at 49.50. Friday's close, a few more closes, and 200DMA. Also spot on 61.8 fib level.
Make it commit.
Berkshire
Jason,
Their Canadians, eh. At least that is what I think that are talking "a-boot"...
Berkshire
Damn Americans?
Call me crazy, but ITB (Home Builders ETF) has a confirmed I.H&S with an upslanting neckline.
Haha,
Yeah, we're Canucks - and we love you guys eh.....
There is forum software out there that will indicate new posts when you visit the site. At least with a forum relevant discussion can be contained within one thread and if you're tired of trying to sift through all the details about something, just move on to a more interesting topic.
It sure beats trying to figure out who's saying what about which topic. I love the discussion here on the posts, but it does get overwhelming, especially when I have to be away for a few hours at work, then try to play catch-up during my lunch break - before I make any trades.
Jeff- welcome back- are you going to post some vacation pix, home movies? We were (mostly) behaved while you were gone. Nothing got broken, no one had to get bailed out of jail.
COH might be a nice entry today on a nice little inverse head and shoulders pattern / retest.
Berkshire,
The list of stocks you posted in the previous thread - were you giving your stance / trades on those, or just pointing out they may not be what we would think they are on first sight??
Beans- I just now exited bear call spreads on MGM that hit my target. It could keep going though if it cracks the support it's sitting on.
Stan
any thoughts on casino tcks.MGM/IGT.
i see IGT breaking out of bear pennant 6pt. flag pole.
maybe 4 pts. left.
MGM looks to be in a 16 pt. desending triangle.
thanks.
Beans,
Don't forget PENN possibly at resistance.
Investools has an easy to follow forum. You can tell at a glance what's new by subject header or if something has been added to a post you've been following.
Todd,
I like IGT, (I am personally in WYNN), and I see your analysis.
I do not see a desceinding triangle on MGM. What I do see is little resistance down to at least 45. If it can just crack the $55 level.
IGT I could see to 37 (I don't measure flags like anyone else). Puts are fairly valued, but how do you manage your risk from this point?
MGM still has a nice base, has not broken-out (yet), and still offers a nice set-up @ E:E. MGM options are also reasonable, but this should be a longer time frame trade (IMO).
Personally I like the MGM better (And I never pick MGM).
Berkshire
We need this.....
http://screencast.com/t/QU37pUy9
Cam,
The list has my stance...(I think ACGY and COL are the only ones I own right now), and the reasons for such. Of course I could elaborate, but I liked the 1-liners.
Berkshire
cole
it looks like casino sector is going to be taken a hit.Or resort type area.
side note on MGM.they let go of 100 people at their casion in detroit.ONE of MGM top earners.
I know Jodi...I have quite a few Canaqdian friends here in Oregon. They are torn between the free market and socialism for the most part.
F2T I believe was the one on top of FSLR about 70 points ago...nice call
Stan,
InvesTools Kicked me out and closed down our forum...I thought they did away with that idea...
Raimo,
Yes, and the same can be said with the overhead resistance in $INDU.
Berkshire
President is on (the one I voted for, btw)...
Market should reverse shortly.
Pope,
Thanks for the heads up...
Berkshire
Raimo,
We hit you 12700...Wohoo!
Berkshire
Raimo,
And GOOG hit 484.57 is that close enough??
Berkshire
Jeff:
Welcome Back!
I also just returned from vacation and it feels a little odd not being in the market to any degree, but I am re-enthused to trade successfully and make some money.
C2:
Please do not leave. I am confident that with Jeff's return, the quality of comments should improve.
Doji:
Take some time off and clear your head. I was away from the market for 10 days while on vacation, and it has helped my focus and emotional state.
Observer;
Go away
Berky said:
"InvesTools Kicked me out and closed down our forum...I thought they did away with that idea..."
Can you elaborate please? You used to be a student and got expelled? Closed down your forum- were you advocating an overthrow of Lee Barbera? Do tell!
Stan
welp... just like my trades... I was wrong. up 20pts since he came on.
Now I'm really starting to buy-in to the Raimo camp(sorry Berk!). : )
Berk,
Give me 12900 today and I will send you a case of Yuengling.
GOOG...I admit I was wrong, my target was too low....but I am happy right now with my 91% profit. I hope some OA's got GOOG and AAPL when I said I was taking them. Oh, and yes, FDP, I am out, I got screwed. win some, lose some.