Yes, It is possible. Real Time Idea's for "This Market"

[08:26] <Brandon> yesterday was a heavy volume day
[08:26] <Brandon> and we had good mojo and important R breaking
[08:26] <Brandon> so I would expect more upside[08:27] <Brandon> will be looking to buy near the open
[08:27] <Brandon> watch the TICKs and a non confirm[08:27] <Brandon> also there is good support in the ES around 1090


Brandon
 
profits protected at the area of the five minute 20ema (use globex data). {1093}. Looking for 1095/96 on the rest. It is holding up nicely here.

Brandon
 
[12:24] <Brandon> http://www.tradingfrommainstreet.com/img/estoday.gif
[12:24] <Brandon> let me know when you have this link up
[12:25] <Brandon> ok this is a 120minute chart of the SP500
[12:25] <Brandon> it includes globex data
[12:25] <Brandon> last week in class we discussed gaps[12:25] <Brandon> and said that an average gap will fill how often?
[12:26] <Brandon> who remembers?
[12:26] <Brandon> 71% of gaps will fill
[12:26] <Brandon> correct
[12:26] <Brandon> so, when we have a gap we will ALWAYS want to find the opportunity to fade that gap
[12:26] <Brandon> because we have a 71% expectancy of profit[12:26] <Brandon> ON A STANDARD GAP
[12:27] <Brandon> we dont fade it just because its a gap
[12:27] <Brandon> we need to have a logical point to work with
[12:27] <Brandon> in this case
[12:27] <Brandon> 1090 gave us a logical point to work with for a rew reasons
[12:27] <Brandon> first it was in the area of the pivots highs yesterday
[12:27] <Brandon> this is 1 point
[12:27] <Brandon> next we have the 120 minute moving avergae
[12:27] <Brandon> 2 points
[12:27] <Brandon> and then finally the price support from near the highs several days ago
[12:28] <Brandon> as prior resistance once broken is new support
[12:31] <Brandon> and then the target area was 1095/96 simply because that is the area where the gap was then filled
 
Mandalay Resort Group (MBG). As I discussed after Toni and I returned from Las Vegas, even though the casino group is just off new highs and things appear well, things are not as good under the surface. We should look for any opportunity that presents itself to short these stocks. Mandalay Bay is giving us such an opportunity. After a gap which it could not hold, it declined to levels that more than filled its gap. It has now rallied for several days to resistence. In todays trading it formed an extremely narrow range doji, such a pattern is often seen at area's of a top. Look for shorting opportunities in MBG.

Brandon
 
Thursday was a light volume Inside Range, NR7 day in in all the indexes. Coiling volatility is often seen before a strong breakout, we also have options expiration tomorrow which throws some spices into the stew. DELL reported "good" earnings according to Wall Street, right now the Nasdaq futures are up fairly sharply. As everyone now knows about the kegger being thrown on Wall Street, my guess is that the police will come and arrest the under aged drinkers here shortly. Look for shorting opportunities near the open in the Indes, and in some of the weaker shares such as NVR, VRTS, ADRX. There are also nice short setups in MSFT, CSCO etc.

Brandon
 
As I scanned this weekend I did not see too much that I was particularly impressed with, so tomorrow may very well be a slow day. Here are a few long symbols to look at, followed by shorts.

Longs.
ALL, NOK, RD, CB, ABC, MEDX, MDY

Shorts.
KLAC, USB, BAC.

Have a great week,
Brandon
 
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