June 2012 Trading Thread

[cky23k]

Originally Posted by whiteowls

PCYC Pharmacyclics is going crazy this last month, 400% in a year is unreal

All Pharms are going crazy, being led by ARNA. I wouldn't touch Pharms now though, all are way overbought. I would be watching PCYC to retract to $48ish.

[cky23k]

Originally Posted by savant111

See here I draw the upper channel over the May 1st high point, but not the highs made on May 29th and June 7th. Which one of these is the right way to draw a trend line?

Another difference between our charts is it looks like your using a linear chart. I was taught to use a logarithmic one for daily's. Does this make a difference when drawing channels?

Most people like to draw the channels hitting the intra-day highs and lows. Personally I like to draw them on the close data. I feel the close and open data far outweigh in importance than any intra-day data.

Also, I use both Log and Linear scales. In this case changing from log to linear made very little difference in my trend line.

[cky23k]

Originally Posted by cky23k

My long watchlist for the week includes: AEG, ACOM, CNW, CNQR, BBL and TMK.

Already took positions in ING @ $6.00 and VE @ $12.18.

Long BBL @ $54.42

VE doing well, up 6% in 3 days. I think there's a little more room here.

ING I'm up 1% in 2 days. I'll be looking to exit ING in the next day or two on any intra-day spike.

BBL I'm break even in 1 day. Technicals are still very strong and will be holding for at least another few days.

Market overall is still very bullish. Today's close is evidence of that. I haven't found any good short opportunities as of late, except ZNGA two days ago.

[highstakesfan]

RIMM so sick afterhours

[highstakesfan]

did someone get stopped out of DDD ?

[highstakesfan]

SPY and QQQ down slightly afterhours is a bit surprising.

[savant111]

Originally Posted by highstakesfan

did someone get stopped out of DDD ?

I should of, I'm still holding though. Not sure what I'm going to do with it yet.

[tastychicken2]

from the google page for DDD:

On October 4, 2011, the Company acquired the shares of Kemo Modelmakerij B.V. (Kemo). On January 3, 2012, the Company completed the acquisition of Z Corporation and Vidar systems Corporation. In April 2012, it acquired My Robot Nation (MRN). In April 2012, it acquired Paramount Industries. In May 2012, the Company acquired FreshFiber BV. In May 2012, the Company acquired Bespoke Innovations, Inc.


uh huh........ all within 1 year of IPO'ing it seems... i haven't read anything else but i'd put a non-negligible chance that there is some kind of shenanigans going on.

[tastychicken2]

covering SPY short at open

don't feel comfortable w/ it given merkel backing down once... which means it can happen again easily

here comes the mega rally

[savant111]

Sold DDD at $33.84 for a less than 1% loss. I was at break even all morning, but held on hoping for one more pop. It broke down now so I sold. Might pop later, but I don't want the risk.

Holding Spy Short over weekend.

[cky23k]

Sold all my long positions today at close:

VE 4% in 4 days

BBL 5.1% in 2 days

ING 12% in 3 days

Going to see how the market acts on Monday before I take any new long or short positions.

[MaliceUW]

I think it's too early to sell longs with the CRB likely making it's 3yr low now or very soon and with the dollar likely topping -- I'd guess (and hope considering my current positions) we see one more uptrend over the next month or so until the dollar puts in a new low this cycle, then looking to short aggressively as equities near their 4yr cycle top.

Of course, this has been a very confusing/volatile market, very difficult environment atm, especially with all the euro issues. The coming months are going to be very interesting.

FWIW, most of this info comes from the trader I follow who is up ~120% since last year without using options (legitimately, he posts all his trades in real-time for his subscribers).

Part of his report from the 27th:

[savant111]

Originally Posted by cky23k

Sold all my long positions today at close:

VE 4% in 4 days

BBL 5.1% in 2 days

ING 12% in 3 days

Going to see how the market acts on Monday before I take any new long or short positions.

Very nicely done.

[NajdorfDefense]

Originally Posted by JayTeeMe

Anyone know of any good websites/software (free is best) that let you draw trendlines?

Trendlines are utterly useless because they depend solely on the scale you choose on the left - and not just whether it starts at zero or not.

MAs have some use. But not trendlines.

[NajdorfDefense]

Originally Posted by DOOM@ALL_CAPS

Thoughts on Burger King (both in general and at the current price)?

Like it don't love it, love it where he got in Justice tho. That's why I give him the mobniez.