Charts of Note

[Mike_McDermott]

Railroad stocks CSX, NSC look particularly vulnerable after disappointing earnings from Norfolk Southern.

Management expects weaker overall fundamentals in most markets "through the rest of the year and into the first half of 2013."

Coal shipments especially weak as utilities switch to natural gas, and steel production declines (read: international infrastructure expansion is on the rocks...)

Support levels breaking on individual rail stocks, and the broad economic implications are sobering.

 

[Mike_McDermott]

LinkedIn (LNKD) is up in sympathy with Facebook (FB) after FB announced strong earnings due to improvement in mobile ad revenue...

So where's the logic here? LNKD doesn't make jack shit in mobile ads and doesn't appear to be moving in that direction even a little bit...

Meanwhile, LNKD is trading at more than 80 times optimistic 2013 earnings expectations, and the stock has dropped roughly 20% this month.

Definitely worth exploring a short trade ahead of the earnings announcement on 11/1.

 

[Van Halen]

Gold : If the selling pressure continues, the 1688 area is a nice target. The bottom of both the weekly and monthly ranges combine to make for a very nice risk/reward setup.

 

[Mike_McDermott]

Cisco Sys (CSCO) has now filled its bullish gap from August and the entire networking area is under major pressure after disappointing guidance from Juniper Networks (JNPR) and F5 Networks (FFIV).

Cisco doesn't announce until 11/13, and should continue to slide as capital rotates out of tech and into more safe-haven plays.

A dead-cat bounce or drift (following the ugly price action this week) would create a great opportunity to add to our bearish tech exposure...

 

[darkhorse]

How many more rabbits will AAPL bulls pull out of a hat?

 

[Mike_McDermott]

Athletic Apparel stocks are breaking down with a number of stocks sporting very high multiples...

With plenty of competition and questions about economic growth (and consumer spending), it's going to be increasingly hard for PMs to justify paying out the nose for these names.

 

[Wide Tailz]

Quote from darkhorse:

How many more rabbits will AAPL bulls pull out of a hat?

Talk about opportunity...... although The Market does not look like it's in the mood to continue going up

 

[Daring]

AAPL is a buy between 520 and 580, a moving average cross is so unreliable in technical analysis, it can either mean the change of a trend or the end of the swing.

 

[nillionaire]

Quote from Mike_McDermott:

LinkedIn (LNKD) is up in sympathy with Facebook (FB) after FB announced strong earnings due to improvement in mobile ad revenue...

So where's the logic here? LNKD doesn't make jack shit in mobile ads and doesn't appear to be moving in that direction even a little bit...

Meanwhile, LNKD is trading at more than 80 times optimistic 2013 earnings expectations, and the stock has dropped roughly 20% this month.

Definitely worth exploring a short trade ahead of the earnings announcement on 11/1.

I was considering shorting LNKD, but I wonder if the 20% drop this month may have already priced in the bad earnings.

 

[darkhorse]

Quote from Daring:

AAPL is a buy between 520 and 580, a moving average cross is so unreliable in technical analysis, it can either mean the change of a trend or the end of the swing.

A moving average cross can mean lots of things, including nothing -- although a cross that has not occurred for 12 months is fairly interesting based on lack of frequency alone. Any time a market does something it has not done in a year, that should at least raise an eyebrow.

Any trader who takes a single signal (especially a technical signal) in a vacuum, without considering it within the context of a whole confluence of others factors, deserves what they get... short-handed observations here are not meant to suggest finality or completeness, but instead reflect glimpses, partial observations, etc...

Trading is like poker - a simple game in terms of rules and execution, but with enough embedded nuance, subtlety and complexity to destroy those who take a simplistic attitude to it...