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FWIW, CCK looks to be shaping up for a reversal. There is a bid at 3.55 for 40K and now 10K at 3.60. I just got filled in front of him...with a very tight stop at 3.49. Any thoughts?

Roger, MOVI is in the low 24's and INTU is getting near 36. I have a trailing stop at 38 to cover INTU and a sell order at 35.01. I see no support for MOVI and would like to cover at 21 or by the end of the week...whichever comes first. You should be feeling better about INTU today?

Bigwave, The primary reason that I'm shorting INTU and others is that the rallies are not sustained or following through. The stocks run for a few days...then the interest peters out and they drop like stones. I got tired of going long trying to "get the meat of the move" when the move gets...

We'll see. My timing on MOVI was bad but I had enough $$$ to avg up and hang on. That continues to sell off nicely today. INTU's volume is decreasing as it goes up. I feel good about getting in at 39. The consumer confidence number missing badly has helped the shorts. Picking up some...

It looked strong at the open. I finally got short at 39 with a 40.01 stop. I'll look for 35 or lower to cover, 1:4 for this one. I wouldn't worry about the fundamentals. Remember why you're trading it. I've owned many great companies that have had their stocks go straight down. I'm...

roger2, I'm looking to get short on INTU this morning...with a stop around 39.10. Unless we get a good sustained rally, I'm thinking this could see sub 35 by the end of the week. Whaddaya think?

I have had success with this type of trading. Often, on NYSE issues - trading under 500K a day - I'll see a buyer/seller post 20,000 to 60,000 shares on the bid/ask. If he is on the inside and pushing, I'll get in front or just put in a market order in his direction and ride with him...

Fahnestock has a history of hyping stock then moving them a good deal. I wouldn't want to bet against them but I'd first have to check to see if they are actually putting money behind this. I know someone who trades behind them on the biotechs. They could be hyping it so they can sell into...

MOVI busted thru over the last few days. I had averaged up to 31 on my short position and I'm looking for low 20's to cover, although I'll be trailing a stop now. Apparently, there was a negative report about video rentals and the whole sector was down. Did you guys get short?

Nothing is over til we decide it is!! :eek: Was it over when the Germans bombed Pearl Harbor? :confused: :rolleyes: HELL NO!!! :D: Who's with me? :cool: *************** What's with some of you? To anyone who thinks it's over, I'd suggest reading up a bit more on some of the...

I was getting ready to ask if there was something like this out there. This is the way the Federal Reserve System works with interbank crediting of funds as well. There isn't much cash flying around out there...more like IOU's that settle up. This makes it seem more like something...

I looked into this a while back as well. Most of the canned packages I saw were like most things in this business...pushing their products rather than educating. I guess if you're spending your time with folks who are new to something, you need to get something out of it - that's...

I don't give much credence to blocks either. With INTU, it looks as if there was expected disappointment on Tues afternoon, but they got a nice surprise and ran it up on Weds. It was actually down on Thurs and then rode the bull rebound on Friday. If we don't get follow through early in the...

Since IB seems subject to T+3, isn't IB "ADVANCING" you the cash when you sell the stock? I always heard many firms do this...especially self-clearing firms because the settlement is assured. I would equate this to a bank holding your check for a day or two. They have the technology and...

Ron Insana is the bald guy. I heard that Bob Pisani is going to talk "a little bit" about the new rules in an afternoon "trader talk" segment early next week. It should be neutral, giving a comment about each side of the argument, then a "we'll see what effect it has on the market" comment.

Last week, I took the opportunity to write IB managment about the stop order problems. Def has posted on another thread that the software patch was going in today or tomorrow. I received this email from IB mgmt this morning regarding the problem. They clearly indicate that there was a problem...

Thanks def, That's excellent news. Unfortunately, I will not be able to test this til Monday/Tuesday. Dave and others, if you manage to try it on a NASDAQ stock, please let us know the results. Thanks

I'd let the stock tell you which way it wants to go. Wait for it to make the move then go with it. Most seasoned pro's will tell you that it's not catching the tops and bottoms...it's riding it through the middle of the move that will make you most of the $$$.

punter, I too have read a good bit about crowd psychology and the markets. These guys are right in that the crowd's actions are in the chart, thus the crowd is the chart. I would suggest "Trading with Crowd Psychology" by Gyllenram if you haven't read it. The author paints a picture of a...

Level III is editable Level II...pretty much the same display.