MSFT seems to have a nice 5 wave pattern up and seems to be still contained in a larger triangle. I sold Aug 27 calls on mine yesterday thinking it would need to consolidate a bit here.

Steve, how would you approach AVL? I already own it but don't know if stops are appropriate with it's thin trading. I like the action today and wondered if you were approaching this as a longer term trade or have a target in mind.

Sold August 27 calls earlier in the day on MSFT. I'm still profitable if it pops on earnings. Also, the daily rsi has topped out but may have more room on the weekly rsi.

For those who did buy GS, is there guidance on the upside. They are at the top of the daily channel now.

Thanks, I may just sell Sept. 20 calls on my shares if it moves up to the 19.6 or higher area before earnings.

Do you have any target in mind? I'm thinking 19.6-20, gap and top of the down channel.

Matt, do you think AVL will follow suit? Are you still positive on AVL; it dipped just below the 200 dma yesterday and I believe it's back above today.

btw, is entry 27, the breakpoint as listed on the watchlist?

Thanks Matt, I'm trading this one!

Anybody watching good old MSFT? I feel like this is maybe a fifth wave on the daily and I'm watching closely for divergence. We've also got a large triangle on the weekly and I'd be interested in getting a read on that.

Are we there yet on GS? Fifth wave I mean...

Thanks, I had a limit order in at 126.2 bottom of the channel and just got to a computer today. I guess it's not going that low today.

Is anyone looking at buying GS here? Is this that final down before a possible move for a decent swing trade?

On GS, any guess where that minor low would be if it were to occur? :) Also, would you play this with a stop in place? The chart looks nice for a swing trade and divergence seems to be developing. Thanks for the idea!

Anyone have a technical price target or thoughts on RIG. Bought some at 60.5 after it being mentioned here and it has moved up decently today. It's now around 63.

To me it looks like if it goes much lower it will test the wedge at 60 or close a gap at 60.5. If it does so and bounces up, then it would form a higher low and start a move up.

I'm going to try and scale-in as Tom suggests at around 60.5 to 60 if it goes that low and set a stop at a close back into the wedge.

Thanks, I look forward to reading it!

Yeah, I thought so as well, but the way the press reacted you would think the metals from the ocean floor would be available tomorrow! May be a good buying opportunity again in the rare earths due to the news though.

I think I read 10,000-20,000 feet below the surface as well, that would definitely take some infrastructure to tap into.

Matt, are there any changes in your fundamental stance on the rare earth stocks with the news yesterday of new finds of rare earth metals on the floor of the Pacific ocean?

A dream come true.....if you ever decide to offer it to members...I may quit my job :)