Tuesday, May 10, 2011

5/10/11 Preflight



Strap in.

74 comments:

  1. too low sodium? wtf...whats the opposite of hypertension?

    RB - yeah there's no way in hell that Facebook is only worth $60 Billion. it should be just as valuable if not more than Google right now.

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  2. morning guys. might trade CL this a.m., lately the slippage (4+ ticks) as been unacceptable.

    good luck today.

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  3. Can't really find anything interesting...

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  4. Added 800 shs MITK here at $6.3 on the opening drop with whatever extra cash I have lying around.

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  5. MSFT took a hit at the open because of skype but now has made it back.

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  6. looking to short the ES below 48.25

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  7. &*%&*$&^##^%...10 tick stop and I'm out already.

    I guess Taylor will be going to community college after all.

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  8. it's interesting - on the CL we ran straight thru the VAH, based on MP we are now structurally long and could scream right back to 103++

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  9. jb- My daughter went to community college for 2 years, and now has transfer offers from UCLA, UCSD, and UCD. I think it's a great option- less expensive, and if necessary, more time to mature before being out on their own.

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  10. I have to admit, this market is stronger than I thought this morning.

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  11. 2nd - I know, we really tried to get her to go that route but since she's been going to HS at the local Univ she's going to enter UCSC with 50-60 units so the stop at community college would have been a short one, depending upon her AP tests today she may in fact have all GE done before she starts in the fall.

    The maturity part would have been huge - she's still really young, will be 17 when she starts college

    mainly just making fun of myself for another stupid loser trade

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  12. hey bro - watch the 6e, looks like it's going to roll over and it should take the es with it...if it bounces at 55 then the es will move above HOD

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  13. Sodium - I can believe Mark's sodium is low, or at least lower than the average American that eats junk food on occasion. Junk food is absolutely loaded with salt!

    I'm shopping today, when's that PM trouncing gonna appear, right after this spectacular run back to the upper trendline?

    Duh!

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  14. And when are they gonna increase those margin requirements for tech stocks running 90 PE's?

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  15. CLNE down 3.2% from the earnings report news late yesterday.

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  16. CLNE closed the March gap up on the daily chart.

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  17. Mark- You didn't read my opening post, man.

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  18. RBY - Bumping up against prior resistance. Wonder what would happen if I try pushing it over the edge?

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  19. CLNE - Could be a good entry, I'd certainly give it serious consideration if they could push it lower to say, $13.

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  20. CALM - Apparently more and more folks are taking to raising their own back yard chickens lately, TSCO has done quite well.

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  21. Actually, I call them "Yard Birds".

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  22. the problem with CL is that I can't take as much heat as it appears to be needed ride the waves between the VAL/VAH....it sure looked ripe to run to 103+, but I couldn't trade it.

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  23. Why don't you guys just get long, and fuggedaboudit?

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  24. 2nd - don't have enough "bank" to just go long trading futures.....if I did then I wouldn't trade at all!!!

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  25. PAL - Must be that Sleepy Giant gold mine again...

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  26. 2nd - Is it me or does it seem like you've been a bit testy lately?

    You've really got to break away from the Cara tradition and leave testiness to the "pros"....

    Boy this jr PM miner run is fabulous, too bad I'm not in!!!!

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  27. maybe he's mad because BC said this today: "Btw, the ones who get banned are ill-intentioned people who don't have a valid e-mail address and who send us spam."

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  28. BC - Engages no one's questions, it's all about him. I recall he went on vacation last time PM's handed him his ass and now it's happening yet again. A nearly complete waste of time.

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  29. I got out of csco and F. Not my type of stocks.

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  30. All right 2nd, I went long 300 BTU @ 63.29. Long term trade.

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  31. It's amazing to see many stocks flat lined out for the last few yours. Spy, MSFT, CLNE, RBY, GLD.

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  32. They never looked good on you anyway RB.

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  33. Am I the only one who expects GM to be back in BK within a few years?

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  34. And I don't like Ford either.

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  35. Testy? Who TF are you calling testy?

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  36. No, I'm just having fun being myself.

    Anyone who takes my posts about 375 mL Nadurra or 562.5 mL of Cuervo seriously...has to be one hell of a drinker!

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  37. Someone really wants out of MITK today @ 6.25. That will be an important # to watch into the close.

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  38. Damn- Shoulda got into CSCO calls yesterday. They are probably up 20% already:(

    MITK looks GREAT on the weekly. It would look 5 times better if it does not break yesterday's high for the rest of the week.

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  39. Watching TZOO closely. May have to let it go and perhaps hope for a weekly close around the 10wma @ 70.37. Unless there's something seriously wrong under the hood, there's no way she closes under 70.37 on a weekly basis.

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  40. Copper - RSI(7) just turned up through 30, gold catching up to both silver, copper and oil.

    Could we be near an upside trend reversal for metals as a group?

    http://3.bp.blogspot.com/-DlKkj4QsPg4/TcicBdlbEoI/AAAAAAAADTU/EuDTAF19lkU/s1600/GVI%2B%252805-09-11%2529%2B660W.jpg

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  41. Good thing they increased the margins by 25% on CL.

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  42. Jesse- I agree. Would love to see a little flag here.

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  43. Trading in WATG was halted last Friday until they provide some "additional" information to NASDAQ:

    http://www.globenewswire.com/newsroom/news.html?ref=rss&d=221221

    I hope they re-open above $0, as I have $20K invested in WATG...

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  44. Take a look at AONE. All they did was mention the CEO will be on Mad Money today.

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  45. Shippers look to be bottoming. DRYS, EXM, GNK, TBSI. I would like to see multi-baggers coming out of the bottom, but none seem to have more than 50% or so upside.

    TBSI may be the big lottery ticket.

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  46. FCX - Does anyone see an inverse H&S, with head at mid March?

    Just wonderin'... (hoping, actually)

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  47. Crazy...SPY just shot through R2 on the largest volume bar of the day. (3min)

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  48. CP- Is that the same as a bushel?

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  49. what a f**king, frustrating, day. All the markets that I trade moved in the directions MP dictated but I kept getting stopped out repeatedly. Last time this happened I stupidly moved out my stops, only to have the market move against me and crush my a**....like they say if it were easy monkeys could do it

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  50. Mark. Ye of little faith. The opening post says it all.

    Now, I realize I'm wrong at least half the time! But when I'm right, I'm right all the way, bro.

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  51. TOF- ADES is in you bed.

    2nd- Got the faith brother. If I was any longer I'd be in 2 states at the same time.

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  52. You're already a '2-state' guy- 6'5" right.

    Sounds like jb also missed the opening memo.

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  53. GMO- Could you please get off the Fing mat?

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  54. Opening memo - It said strap in, not strap on!

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  55. Strap in, strap on. Potato, Potatoe...Oh sorry, that's Quayleism...

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  56. They're hitting the bid pretty hard on XLE here.

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  57. PAL - That's a reasonable price, IMO unless they've diluted...

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  58. Dumped TZOO for a .50 shave. Will watch carefully. May be a buy around above 74.50 or around 70.50.

    Stopped by the Circle K and picked up my lottery ticket in the form of TBSI. Not a big position. They released earnings yesterday and nobody gave a damn. No volume- could be sold out. At the end stages of a rights offering. Should have an additional $30-$50 million in cash. Lenders have all extended credit terms until 12/11 at which time they will probably extend again. Therefore, TBSI stock has 8 months to shake, rattle, and roll w/ no chance of bankruptcy.

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  59. BDI is at 2009 Armaggedon levels and deep recession levels of 2001. There has never been such a spread between BDI and CRB. They usually converge over time.

    Check out the last BDI chart on this page- BDI/S+P 500.

    http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm

    Odds are very good BDI will go up 200-400% by the end of 2011. I personally guarantee that the BDI will double at a minimum at some point this year.

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  60. In defense of 2nd's face ripping monster move to the upside:

    Per ST:

    Over the past few months as stocks have climbed, some of the most speculative traders in the market have left the market.

    For April, the Nasdaq reports that Over-The-Counter volume dropped to one of the lowest levels in the past eight years. Stocks that trade OTC are also known as penny stocks or pink sheets, and generally don't meet the minimum requirements to trade on one of the major exchanges. They're lottery tickets.

    Because of their speculative nature, watching volume levels can provide tip-offs of overheated activity. We're certainly not seeing that now. Just over 16 billion shares changed hands last month, which is the slowest since November 2008.

    That's down 18% from March and a whopping 58% from January. It's a similar situation when compared with total Nasdaq volume, though not quite as steep a drop-off as overall market volume has also declined.

    Since 2003, the only months that saw lower OTC volume were September and October 2004 and November 2008. Generally, very low speculative volume is better for the market going forward than very high volume, so mark this one down as a positive.

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  61. Jesse - I know you're looking for multi baggers...might I suggest you look no further than MITK?

    Mark > I don't want no ADES man. that lawsuit might just wipe them out.

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  62. Great day at the market, most everything is up: metals, small caps, big guys. Hope everyone was able to participate in today's up move. Let us enjoy the party while it lasts. Just hope we get get out in time. Also reading less of BC and Hussman helps sleep better at night -)

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  63. GMO - Offed those shares bought today, in AH, for a small gain (0.03/share). I just don't like the way GMO closed today and my position was getting crazy large.

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  64. CP -- what fraction of your port is in GMO now? If you decide to make a trade in GMO, it would be great if you could describe your entry and the exit strategy in real time, so that we could follow you if we choose to. And in order to show us the level of your conviction in each trading setup, it would be great if you could tell us the percentage of your port you allocate for the trade. Thanks...

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  65. WFR downward channel buy setup.

    I just read the conference call. This stock has some MAJOR upside over the rest of the year. Revenue and margins will ramp big the rest of the year. Backlog growing into 2014. $2.6 billion market cap. $700 million in cash. Mgt. stated will not need to raise funds. $1.45 est. for next year will have to come up quite a bit. If money starts flowing into solar and semis, which I think will happen, the eps run rate over the next couple of quarters supports a $40 share price.

    5 year chart says it could break out huge. Options a possibility.

    Great under the radar conference call:

    http://seekingalpha.com/article/267897-memc-electronic-materials-ceo-discusses-q1-2011-results-earnings-call-transcript?source=yahoo

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  66. Citi is maintaining its Buy rating and $18 PT on shares of MEMC Electronic Materials Inc. (NYSE: WFR).

    With EPS a little better than Street (adjusted for 1x issues), CQ2 EPS guide about in-line w/Street, and C2011 guidance unchanged despite a myriad of investor concerns (Japan, Italian solar market, etc.), the story here continues to build, Citi writes. While EPS is now even more 2H-loaded, the story to us is all about SunEdison and the degree to which WFR can realize value from a rapidly growing pipeline.

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