Hi Kalimn,

The canadian market is very vulnerable to fluctuations in the natural ressources. With the drop in gold and other commodities today the TSX was hit strongly. Investors didn't take too much seriously news that China would buy Italian bonds and thus the last hour rally on the US markets didn't reflect on the canadian exchanges.

Hi everyone,

I've been lately buying puts and mostly calls on PCLN while following the trend of the market since PCLN has been following pretty well the general market in the last few months.

Recently, it just crossed back over the 200MA and the MACD is recycling back over 0. It looks like another good opportunity to buy calls for the next move up when the market goes back in an uptrend. 

http://stockcharts.com/h-sc/ui?s=PCLN&p=D&yr=0&mn=9&dy=0&id=p99194110235&a=213528994&listNum=59

Thanks Matt. Looks like a sell will be generated by a cross to the 8 Day MA before we hit the stop.

Hi Steve, Matt,

How is the ATR trailing stop doing on the GDX system. With Gold taking an expected beating, I would assume it is above the GDX system current stop price ?

Thanks !

Atlantis

Hi Matt,

Just listened to the RSI improved system. Thanks for all your work ! I have no doubt it will make a great system even better in the future.

I am still not clear on the ATR Trailing stop. I understand this stop is calculated regularly and will move over time as we are in the trade. Will this new stop be posted on the GDX Swing System page say at the end of every day or you will alert us when the trailing stop reached the current GDX price.

I'm curious to know how we will know when we should adjust our stop as trade days pass by.

Thanks !

Atlantis

Hi Steve,

I wish I had your confidence. I'm sure if I start buying VXX long or shorts or any stock for that matter, the market will go the opposite. I prefer to stay on the sideline for now. I've only put some in gold, that can't be a bad investment at this time. With all this turmoil, I find it hard to find good signals to rely on. I've got to say I had not discovered TA back in 2008 so this excessive volatility is new for me. I may consider shorting when a bounce to resistance occurs.

Thanks for the input though ! :)

Expedia was up 10% today on great earnings. Their bookings was up 19%. This result reflected on PCLN today.

http://www.fool.com/investing/general/2011/07/29/expedia-where-you-invest-matters-too.aspx

Keep a close eye on PCLN earnings August 4 at 4:30. I'll be watching the call option prices for a quick trade.

Enjoy your week-end everyone !

On the contrary I'm still long but a small portion of my portfolio. Let's see if it continues to climb and reaches the 200ma. Note earnings are July 14th which could add volatility

Hello everyone, I've been riding some of the PCLN move up last week with call options. Sold them to take my profits. Anyone looking at GOOG ? RSI is close to overbought but we are still 20$ from the 200MA which could provide a nice trade. I'm just prudent with the extensive move up since the end of June...

  http://stockcharts.com/h-sc/ui?s=GOOG&p=D&yr=0&mn=8&dy=15&id=p37618411540&a=223963796&listNum=59

Hi everyone,

I'm seeing bearish signs all over for AAPL, GOOG and PCLN. They are moving below their 20 and 50 MAs (except PCLN so far) and the 60 period STO is about to cross below 80. Very interesting for a short or buying puts. Volume is also bearish in some cases.

http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=9&dy=0&id=p21774374444&a=225272867&listNum=59

http://stockcharts.com/h-sc/ui?s=GOOG&p=D&yr=0&mn=8&dy=15&id=p37618411540&a=223963796&listNum=59

http://stockcharts.com/h-sc/ui?s=PCLN&p=D&yr=0&mn=9&dy=0&id=p99194110235&a=213528994&listNum=59

I might buy some puts tomorrow if the downtrend continues but with my luck, they will start to go up again. Thoughts welcome !

Atlantis

Nice move up on API this morning. Thanks Ditch and Matt for putting this one on the radar !

Hey everyone,

Anyone thinking of shorting Apple ? The chart is interesting and 60 STO about to cross. As I write this message, it bounced off resistance so I'm still watching.

http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=9&dy=0&id=p13478187704&a=221330384&listNum=59

Atlantis

Hi Zach06 and everyone trading options

I'm not sure I follow all of your message. I understand you sell half and keep the rest as house money. What do you mean sell a short option further down? You sell your current options and buy another set ?

I'm relatively new to options so any strategy that works for anyone on the blog would be interesting for me as well as any recommended readings on the subject. I found very good material how to trade/analyze the market by reading material from Mike Swanson (wallstreetwindow.com who actually made me discover BPT) and the continuing newsletters from BPT. I'm still looking for good readings/ressources for options.

With my recent discovery of freestockcharts.com, I can finally make my own charts and even set email alerts, this will help me prepare better setups and triggers.

Thanks !

Atlantis

Hi Fixdgear,

These options are killing me too. My stop was hit on my CMG puts today. I will avoid puts until the market shows clear signs of reversal. This is not a good timing for option puts with the market still going up. I can hear Steve from here, follow the trend !  I need to work on better setups.

Atlantis

CAE rose because of positive news from Boeing. They announced increased sales of airplanes today. Bombardier also shot up 6%. The whole airline industry is starting to show some strength with the economy slowly improving.

Yep, and should have searched by keyword first. Matt posted a video about it on the 8th of Oct 2010 at 01:04 pm here on how to use it to scan sectors.

http://breakpointtrades.com/jing/2010-09-29_1059.swf

Thanks guys, I'm learning a bit more every day !

Atlantis

Hi everyone,

For the newbies out there (I still consider myself one), I just found out a great website to make your own charts. It's a free web based version of tradestation. Check it out: http://www.freestockcharts.com/

Enjoy !

Atlantis

I got out 2 days ago at 1.38 and I was very happy with the 25% gain in a few days. Don't be greedy ! Since I follow breakpoint trades I changed drastically my trading style and it has payed in the last few weeks with all the trade setups. I used to look for homeruns and get burned but now I'm hitting all these singles and doubles percentage digits using the trade ideas and watch list recommendations.

Steve, Matt, good job finding all these winners. I wish you and your families all the best and a Merry Christmas !

Yep saw that this morning. I actually bought a position last Friday. I'm raising my stop since this morning. Thanks for the recommendation ! :)

I'm also following GDX closely. I'm on the sideline for now. Will likely wait for the next short signal to come up.