{+++} I hope by now you guys have heard about Stocktwits Desktop, here is a video if you need some extra help, it’s as easy as Twitter. Sign up and start following your favorite twitter folks, you can one stop shop on the platform, browse the internet, see Chartly charts, watch Stocktwits TV and even start and manage the groups of specific people and traders that you want to follow. I’ve been using Tweetdeck now foe six months and this truthfully is Tweetdeck on steroids, no comparison in my mind, although I do think Tweetdeck is a phenomenal product.
The beauty of the new platform is the benefit for you subscribers. Many have asked for a sort of chat room for our ideas, especially daytrades, now we can communicate via the private group. When you install Stocktwits Desktop, click on “groups” and type in “Upsidetrader Premium”, you will now be in “our”private chat that only you guys will see. The private group may be open to others for a short time, but will be exclusive ONLY to subscribers, and you will be receiving a private secure login JUST for you. We can now communicate privately and it will save us all a step. Currently, if I do a daytrade alert, I do the post, then notify you via Twitter that a post was made, now I can go directly to our private “group” section, we also won’t experience the time lag that we sometimes find on Twitter or Tweetdeck.
So sign up and let’s get started together, there will probably be some glitches and I am not a nerd, so if at first you have problems or question, please ask on twitter or use our Disqus chat forum to discuss among yourselves, I will not answer technical questions. Here is an article from Howard Lindzon and Techcrunch too.
I could not do a video pre market today as I literally spent from 6:30 am to 10:15 with some broken English neophyte in Pakistan at HP desktop support, he was a lovely man although he knew nothing, barely spoke English and still didn’t resolve my problem, the 30 second time delay where we constantly spoke over each other after the pause was also quite pleasant. I would rather have been water boarded, four hours of my life that I will never get back, I will shoot for a video in the morning, promise.
Now the market, it wasn’t a good one for longs, we saw some stops but some of the small biotechs continue to act very well and are running counter trend. I recived two or three e-mails on ACAD, I hope no one was too hurt but if you follow the plan and keep each idea to 10 or 15% of your portfolio, blended in so to speak you will never get too hurt. WE sold half ACAD +40% and stops were raised, unfortunately it gapped through the stop, I would SELL the stock if you are long. Any stock that trades with four letters and is under $10 is inherently risky, they also offer big upside potential, we have to take our medicine on that one.
No names tonight, I need to see if this will be a key reversal day, we will know in the next day or two and we need to see downside follow through, charts got hit today but they won’tset up short unless we get some follow through. The financials led us lower today on some early chatter that a major bank might fail, the conversation then gravitated to WFC as that bank, also that they may price a huge secondary offering. At 3:45 today the bank issued a denial on both counts, I really thought we would rally off thedenial, but guess what? FAS closed on the lows anyway, the market didn’t care, that to me was a “tell.”
We’ll see tomorrow, see you in the morning.
WATCHLIST FOR AUGUST 31
LONGS THAT HAVEN’T TRIGGERED YET:
OREX-OVER 8.90 THEN 9.47
RDN 9.94 STOP 9.25 (STOPPED)
LONGS (THAT HAVE TRIGGERED):
NANO 5.97 STOP 6
SPPI 7.80 STOP 7.10
EXEL- 6 or 6.10 STOP 5.70
AXL- 6.40, STOP at 5.50 (STOPPED BY 2 CENTS)
CNO – 4.20 level stop 3.75 level
RMBS 19 stop 18.40 (STOPPED)
BCRX 10.40 STOP 11
CTSH- 35 STOP 34.25
QSFT- 16.25 stop 15.75
ACAD- 5.25 stop 5.20,(TRADED THROUGH STOP-SELL)
QCOM 47.60 stop 46.25 (STOPPED)
SHORTS THAT TRIGGERED
CNH 16.96