Late night thought… short Kanye West

What on earth were you thinking?  Show some respect.

Ain’t enough room in the world for this guy’s ego.  Taylor should of whacked him with the VMA award when he grabbed her mic.

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First path shows market new highs in VIX low 23, perhaps 22.50 – 23.  Today’s intraday move on the VIX showed traders selling right at VIX 23 after a 5-day quiet rally.   We could look at this as a little shake out of weak longs before the weekend.  Remember, this market is heavily influenced by short term traders (much different scene than summer 2008).   We have now entered into the territory where we can look for consecutive VIX-spikes DOWN to signal a longer term market reversal.  Let’s see if we can time it together with The PPT‘s overall market hybrid score (recall that hybrid = 3 presents interesting effects on market).

Second path shows VIX continues its bounce off 23 to 25, then 26 area showing a healthy and slow 13% move up in investor sentimen/fear.  Bulls want that. 

Overall, market has been choppy on a weekly basis. 

–  Fuqi International, Inc. [[FUQI]] broke 31 again for the bulls
– CNinsure Inc. [[CISG]] also broke 20.

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Monitoring this play here. Pull out a longer time period for GMCR. You’ll notice we are getting closer to May’s big spike, and July’s follow-through. If you are long this sector I suggest you cut some position. Or, begin shorting on breakdown….

CBOU recent wedge opening up a possible 15-20% move down on heavy volume. Careful above 7!…

I also have PEET up showing signs of retracement.  For both CBOU and PEET, I am using GMCR as a guide.   A re-test and fail on 62.50 resistance is a good spot to short, or you can short here and use a break above that spot as a cover flag.

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Anyone out there got mad skills on Fantasy Football?  Bring it!  No really, I need help.  Let me know your top draft picks.

So far I got from other stock trading buddies on Twitter (hahahaha.  Thanks!)…

TradeIdeas@thehawaiitrader Roddy White ATL will have a good year. Nuff said

mariorodrigues@thehawaiitrader Vincent Jackson Santana moss

agwarner@thehawaiitrader Brandon Marshall going cheap (talking my book, he’s on our team, lol).

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ALoha friends.  Looks like our good ol’ FUQI pick from The PPT has done it again.  This stock ranks very high on our system and has already been a great swing trade for about 3 dips.  Here’s my new stop, add-too, hold points:

AGGRESSIVE PLAYERS:

… put your money to work, and go where momentum takes you.  We already pulled back from our August high, then tested and broke previous sell point, and now we’re looking to make a new month high.  Volume looks great.  For aggressive players, add now on potential follow-through, or if your position is new, add at the yellow line (slightly under 29).   Our goal is 30s.

 

CONSERVATIVE PLAYERS:

… conservative players are more concerned with stop points.  Using basic price/volume measures, let’s take price @ highest point of volume which is pretty much 24 even.  Therefore, that’s where we DON’T want the stock to fall under.  Use block increments to build position, and bail out immediately if stock falls on high volume…

 

Itchy!!!!!!!!!!!!!!!!

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Jus got back from the beach…. man am I wiped out.  I was driving home and I dozed off on the wheel and nearly swerved off the road and hit a tourist.  That was crazy.  I don’t know what the heck happened.  It’s been non-stop party after party this week- weddings, dinners, dates.  Staying up late, getting out early.  I’m too that point where I’m just so drained and I want to run away from the crowd and just get away and do nothing.  Know what I mean?  Especially after nearly killing someone, I’m like, I need to calm down and start thinking of other people… call it a wake up call.  Living for the moment will leave you with a bad sunburn.  I think I’m going to have to sleep on my stomach tonight.  The water was just too good.  Clear straight down to the ocean floor!

Okay, so before I reapply aloe gel all over my back for the 9th time, let’s get back to the stock updates:

• CTIC –  if you’re in it for a trade, you should already be mostly out.  If you’re in it as in investment, take caution.  This can drop big easily due to small market cap.  As always, you want to monitor volume spikes.
• AIRM- I still like this for a new 52-high, then we are in the 40s.
• NFLX- our swing short play will head under 40s.  High chance this week.
• ArcSight Inc. [[ARST]]   –  we busted through the 20 spot from last week and are now knocking on 22s door.  Great looking bull so far.
• [[CBOU]] is shortable near 7.80.  I’m using 5-day price/volume action.  Continue to use [[PEET]] and [[CBOU]] as a guide to short the Caribou.
• FUQI comes back with a vengeance!  Our old PPT #1 pick is continuing to show relative strength and is showing that healthy dips are worth buying.
• I’m also keeping an eye on The PPT overall #s which have been very interesting.  Fly has been using it as a contrarian indicator (I love contrarian stuff) and he’s been spot on.  For now, if you’re new to The PPT, or you’re not yet a member, I’ve noticed on our front page at iBankCoin.com The PPT overall scores are posted, so check those out.  Also take note of the top industries.  Let’s just say our magic number is “3”… as you monitor the overall hybrid scores that The PPT punches out, you’ll want to keep an eye on 3.  It’s a good way to measure retracements and relief rallies.    If you’re interested in learning more, I suggest you ask Fly or just join The PPT and hang out with the community there.  They are getting real good at using this indicator as well as individual stock indicators.

… tomorrow I’ll be in and out the trading room.  I was stupid and I made an appointment to meet with a client this Saturday at 2pm, the SAME time the wedding ceremony was.  Lol.  He showed up, and I was all suited up with my lavender tie (took forever to find one of these) and he was like, “do you always dress this way for meetings?”  Ha!  It was awkward.  Anyway, I rescheduled for Tuesday so I’ll see how it goes.   Speaking of the wedding, if you were wondering, it was a pleasant disaster!  I mean, nothing really went as planned so it was hilarious and fun.  The make-up artist was this old lady with no make-up supplies.  Lol.   My friend couldn’t pronounce his fiance’s middle name during the vows.  The bride and groom are the worst dancers I’ve ever seen.   I got stuck in traffic so I missed the photo-shoot (Yes!). I did say a few words, but kept it short, sweet, and trite… you know, “I’m honored to be a part of this moment… ” , “Wish you the best” … ” …I’m going to keep this short, that way we have more time to dance” … that kind of stuff.  I’m not one for drama, emotional moments, and flowery speeches.  Just get me off the stage please!  Anyway, time to run away to no where to do nothing and be no one.

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