Short term trades in the stock market •$$$$$•

[Mountain]

I think energy could be hot again tomorrow.

Honestly I tried to get into some short term calls in both WTI and KOG near the close but Ameritrade's system crapped out on me. Just an indication of the activity at this stage of the game...I waited a bit too long.

I see her falling as well though not for any good reason other than SJ is sick and they refused to make public their succession plans. They have enough cash on hand that they could probably buy their way out of the fall if they wanted to make an acquisition. Anyone see this?

No I personally don't see the acquisition thing helping at all. Looks like the market will collapse a bit very soon and AAPL will simply go along for the ride regardless of what they buy or if SJ rises from the dead. The tide has gone out...look for short setups but the best ones have already passed buy.

I want to get out of WLT

It's only headed lower. The drop to a new short term low yesterday on higher volume than Tuesday confirmed the drop through the 50 the day before on higher than average volume in this market. Seems you have no stop loss guidelines if you're gonna wait till it hits the 100 after most institutions have already been dumping.

 

[TNTBudSticker]

I like how WLT made a double bottom today and it could have been a $6.00 day gain.Double bottoms baby !!

With GBR...I think it's the 10:30-40am time slot before the days redemption on the stock catching up.if it doesn't hold that line..then it will go down most of the time.but alot? Pretty rare.Volume did explode by 700,000 share traded when it's average of 5500.

 

[Mountain]

AAPL - looks like it has a worm in it...lol! The release of the iPad 2 may be a bit of a contrary indicator here of sorts. Unfavorable activity here.
CRZO - hit the target I mentioned awhile back of $39 and should settle a bit after the wild intraday swing.
KOG - there went +100%. I was looking at the March 7.50 calls a few days ago at $15 each contract and now at $40. I wonder if that gap has something to do with short covering. If it pulls back to 7 may provide for an interesting entry. Long term prospects look good for strong production growth.
WTI - was not expecting much of a move but a move nonetheless.

One thing I doubt is that a lot of people will not want to be long going into any weekend for quite awhile.

 

[zenoonez]

Market is holding today. Energy still riding high. Pause on the way down just waiting for something to break in Libya or trying to rally against the bears? Either way energy is where my money is. Hope everyone is doing well today.

 

[zenoonez]

I am out at +17% for the day. Going to enjoy the beautiful day outside, might do a lil fishing.

 

[Mountain]

I am out at +17% for the day.

WooHoo!!! Not bad for a Thursday

 

[zenoonez]

WooHoo!!! Not bad for a Thursday

Literally exactly what I told my girl. One more day in the week, see what I can pull out tomorrow. Not even going to look at a graph tonight, can't bring myself to do it, just gonna have to wake up early and find tomorrow's winner. Hopefully I hope everyone else had a good day.

 

[Sam the Caveman]

dayum zenoonez, what were you in Royale energy, ROYL?

I took a look at walter energy, WLT. It doesn't look good to me, looks like its forming a nice downward channel, which could be worked for a few % here and there but nothing major until that upper trendline is broken. it might come back up to 122 or so, but then to new lowes. Don't listen to me though, i'm too new at technical analysis to be taken anymore seriously than a grain of salt.

 

[Mountain]

dayum zenoonez, what were you in Royale energy, ROYL?

I took a look at walter energy, WLT.

Yeah Zen mentioned ROYL yesterday I think before the close.

Agree that WLT looks like a downtrend channel.

Zen earned a day or two to go fish...NICE

 

[zenoonez]

dayum zenoonez, what were you in Royale energy, ROYL?

I took a look at walter energy, WLT. It doesn't look good to me, looks like its forming a nice downward channel, which could be worked for a few % here and there but nothing major until that upper trendline is broken. it might come back up to 122 or so, but then to new lowes. Don't listen to me though, i'm too new at technical analysis to be taken anymore seriously than a grain of salt.

I was in ROYL as a matter of fact. I watched the open rally up and bought in on the fall after that. Watched it pick and peck up and down for a couple hours and got tired of doing it, wanted to go get some stuff done, waited for it to go up the hill and dumped it. Could have made more but I probably would have held it too long, the chart just tailed down the end of the day and I probably would have just watched it piss away looking for the late day buy in. I think ROYL might be done though. I can't imagine it would have another leg up and strong day like yesterday and today but I guess we will see. I would stay away from WLT as well. I can't see anything good in the short term unless some fund manager turns it into his little pony for next week. Then it could do anything and everything no matter what TA says. Oh and don't listen to ANYTHING I say because I am very new at this and TA is not something I find myself particularly good at. I paper traded in high school for two years with great results thanks to a former marine who taught econ and have had pretty steady gains since I started doing it for real but I am a novice as evidenced by my inpatients and being -9 on Tuesday. But hey if you want a novice's opinion I am always down to look at some specific charts.

 

[Madrus Rose]

Yeah Zen mentioned ROYL yesterday I think before the close.

Agree that WLT looks like a downtrend channel.

Zen earned a day or two to go fish...NICE

Good news for ROYL , from ave trading of 400K /per day to 28mil ...you could say it was just a little bit "in Play" these are the kind of hot sector plays that'll be popping up all the time like GBR did yesterday . When if there are shares to short these plays can be really profitable on the short side, weighing the news & the size of the pop which always goes too far initially powered buy some panic short covering .

ROYL tagged on $25mil more market cap today where it settled around $5 which is great for those holding & loads of fun for those who traded in & out of it all day long . Traders love these little hot-sector plays & trade 'em like rag dolls ...intraday the RSI tells as much for when to short or go long, as it does on the daily charts .

GBR lost about 20% again today to rest at $5 , whether some shorts covered near $6.50-7 area or people jumped in , one can lose big & in a hurry on these small plays chasing them . Watching on Level II & there's short shares available will usually try short the highest overbought spike possible in the premarket or on the open ....watching for block sells taking proifits ...if it pops higher would short more cause almost 95% of the time these fall back to earth.

Little energy sector plays going to be popping right n left this next month on any news . (reminds me of the days when the little biotechs were on fire when the Anthrax scares were happening after 9/11 ...they were popping all over the place on any news.)

Imagine loading up on this when it hit the 30rsi just above $2...sure was a nIce
little POP on 50 X's normal vol...some traders in & out of this one 3-5 times today
5-10k-20k shrs at a time...

 

[zenoonez]

Lol wish I had the 25k call they would put on my account so I could have played in and out of it. Lol. Plenty of pressure from the top on ROYL. Any move tomorrow is going to be playing into the teeth of the bears and they are just waiting for the drop on this one like they were waiting for GBR. Gotta try to find the next one and still keep an eye on ROYL. If I play into ROYL tomorrow its going to have to be in and out quick, no waiting around and watching it play up and down. I am not riding that train down if she goes the way of GBR lol.

 

[Mountain]

Let's look at the difference going into their respective moves for GBR and ROYL.

 

[Mountain]

Little energy sector plays going to be popping right n left this next month on any news . (reminds me of the days when the little biotechs were on fire when the Anthrax scares were happening after 9/11 ...they were popping all over the place on any news.)

Honestly dude I remembered PDO from the last oil crisis so checked up on it the other day. My brain is programmed with ticker symbols. It was flat lined before oil hit $150 a barrel then BOOM. Look at a 5 year chart and believe it or not I was watching it when it was like $3 a share (more like $2.40 to $2.50) before it went to $35. I was like what a dog...LMAO!!! PDO showed up on IBD's 'Best Stocks Under $10' back then...looked at it and laughed...until it became a 10 bagger in a matter of a few weeks...ooops.

What's going on now reminds me of that time. PDO is a stable minor producer and basically valued at the oil it has in the ground. General oil speculation will make these things go wild for no real reason. Don't know if plays like PDO will be similar this time around but something to look back on in a month or two.

I like bigcharts.com for a basic uncluttered peek at something looking at price and up/down volume mainly with a MA thrown in. Long flat bases are the absolute best for staging major moves from.

 

[Mountain]

Where do you think NFLX is headed to? That came up on my radar as a major top immediately after it gapped up a few weeks ago and IBD was saying it's time had come...basically...

Sometimes nice to look at long term charts to keep things in persective a bit...IMO.

 

[zenoonez]

Looks like salesforce(CRM) is going to break out this morning. Thanks Hydrosun for pointing it out as a scammy stock but hey Madoff made his money being a scammer, this one we can make money off of and jump out before people realize the sky is falling. Oh and looks like they are value hunting in the energy sector so don't necessarily look at the top of the markets, seems like they are looking for lower priced stocks to push, pop, and then drop. AEGY might be one to watch, its given nice gains over the last few days but it might have more to give.

 

[TNTBudSticker]

I agree about WLT and still haven't got out yet.But I wouldn't go short yet.Just going to wait maybe until Wednesday to confirm some moves.Unless someone big goes in WLT like someone said.

MMG did pretty good so far up .04.Gold down $10.00 mid-day.

I got in trouble with Scottrade for hitting over the 3 trades a week and was banned for awhile like 3 months.But in those 3 months learned a few more things too.Better to have 25K and play those trades all day.

I love fridays.

Just for shit and giggles..I paper traded SKF for 5000 shares in Google (only do no more than 5000 shares per stock ) since last week and now up $213,000 today! I'll have to find out if it's a split or not since Goggle doesn't do anything about stock splits...Love to take the gain.I think I will..lol ..Just trying to hit a million dollars..puts me close at $600,000 since 1st of January.

 

[Madrus Rose]

AAPL & the $compx both get the bounce right off the blue 50ma ,
no mystery when everyone looks at the same charts

CRM a perfect chart on the way up but sure looking like $150 is a big triple top formed ...that would have been the perfect place to enter short & could again . Double & triple tops in the far overbought very powerful...huge performer last 2yrs since the W bottom. Not one you want to be short going into earnings though...better to wait for the short covering & short them!

CRM reported today was as high as $148 (some panicked short ) trading now @ $140...

Shares of Salesforce.com (CRM) are up $7.08, or 5%, at $141.40 this morning after the company yesterday beat fiscal Q4 estimates and raised its outlook for the year. http://blogs.barrons.com/techtraderdaily/2011/02/25/crm-platform-who-cares-signing-deals/

 

[Mountain]

I agree about WLT and still haven't got out yet.But I wouldn't go short yet.Just going to wait maybe until Wednesday to confirm some moves.

Looked at WLT again and didn't realize it's in coal. ACI is looking better but both in confirmed down trends. Don't see a significant downside at the moment but still may pull back again. Nice recovery the other day in WLT intraday a good sign.

Read awhile back that some industry peeps are expecting a strong long term market in coal coming up.

 

[Sam the Caveman]

I got into ACI on 2/23 at 32.43, I'm hoping it will hit 35 again and maybe break though. If it hits 35 there is a good chance it will break out. The gain today has made it a good trade so far.