(05:55 am) JoeyTSA :early gap down:
NFLX,AMZN,FANG,HOG,TEP..eye on SILC
too
(05:56 am) JoeyTSA :early gap up:
ARMH, APA
(05:57 am) JoeyTSA :levels /ES
1974-1977; /CL 104.40-105; /NQ
3940-3948
(05:59 am) Qwert :CMG a huge gap
up this morning
(06:20 am) Mitch
King:21 Jul 13:02 [CMG] Reports Q2
$3.50 v $3.05e, R$1.05B v $980Me – Guides
FY14 SSS higher to the mid teens (prior high
single digits excluding any menu price
increases) – Affirms FY14 new restaurant
openings 180-195 (prior 180-195) – Source
TradeTheNews.com
(07:00 am) Mitch
King:07:00 *(US) JUN EXISTING HOME SALES:
5.04M V 4.99ME Metrics: – Median existing
home price: $ v $213.4K prior (revised from
$213.4K) – Total Months’ Supply: ## v 5.6
prior (revised from 5.6 prior) – Distressed
sales: % v 11% prior – All cash sales:% v 32%
m/m – Source TradeTheNews.com
(06:21
am) Mitch King:Premarket UP: CBAK, CMG,
CROX, PII, APA, ARMH, PLUG, GPRO,
KNDI,
(06:21 am) Mitch King:Note HLF went
below $53, $50 level should be big
bounce
(06:21 am) Mitch King:many
brokerage firms raising price targets this
morning on CMG
(06:22 am) Mitch
King:Premarket DOWN: KO, TEP
(06:23
am) Mitch King:Watching: VA, DD, LXK,
HOG, TRV, UTX, MO, CIT, NFLX, AMZN, TXN,
AAPL, YHOO, TWX, EXPR,
(06:31 am) Mitch
King:NFLX low of day
(06:32 am) Mitch
King:watching SFUN for possible
short
(06:32 am) Mitch King:watchign HLF
for bottom
(06:32 am) Mitch King:CMG
breaking out new high
(06:33 am) Mitch
King:watching HLX for top to short
(06:33
am) Mitch King:watching LXK for top to
short,
(06:34 am) Mitch King:watching WAT
for short, no hurry
(06:35 am) Mitch
King:IRBT trending up
(06:35 am) Qwert
:monitoring CROX
(06:35 am) Mitch
King:watching LYB for top but expecting more
upside
(06:36 am) Mitch King:YELP trending
up, more upside
(06:36 am) Mitch King:no
hurry to sell HLF
(06:36 am) JoeyTSA
:watching PII
(06:38 am) Mitch
King:watching CIT for top to short, no
hurry
(06:38 am) Mitch King:watching WWD
for short, use limit orders
(06:40 am)
Mitch King:watching SODA for dip to buy long,
no hurry
(06:41 am) Mitch King:QIHU
trending up, more upside likely
(06:41 am)
JoeyTSA :eye on BIDU $200 level
(06:41 am)
Mitch King:consider covering LXK if short on
this drop here
(06:42 am) Mitch
King:watching HLF for bottom to
buy,
(06:42 am) Mitch King:online
education stocks DV, EDU down
sharply
(06:42 am) JoeyTSA :eye on
NFLX
(06:43 am) Mitch King:consider
reducing CIT if short
(06:44 am) Mitch
King:monitoring STT for top, low
priority
(06:45 am) Mitch King:HLF
bouncing
(06:46 am) Mitch King:WWD up on
earnings, 69 cents vs 61 cents, reaffirmed
2014 earnings
(06:46 am) Mitch
King:watching WWD for top to short, no hurry,
take time
(06:47 am) Mitch King:MJN strong
uptrend, breaking out on daily
today
(06:49 am) Mitch King:PII steady
uptrend still
(06:49 am) Mitch King:PII
earnings 1.42 vs 1.40
(06:50 am)
Mitch King:SOHU strong today, more upside
likely
(06:50 am) Mitch King:HOG earnigns
beat, guided 2014 shipments lower by over
10%
(06:51 am) Mitch King:consider
covering HLX soon if short, too
bullish
(06:55 am) Mitch King:QIHU new
high
(06:57 am) Mitch King:starting to
watch ORLY for bottom, monitoring better
word, no hurry
(06:59 am) Mitch King:AMRI
more upside likely
(06:59 am) Mitch
King:06:59 *(US) JULY RICHMOND FED
MANUFACTURING INDEX: 7 V 5E – Shipments: ## v
2 prior – Volume of new orders: ## v 4 prior
– Order backlog: ## v -3 prior – Number of
employees: ## v 3 prior – Wages: ## v 12
prior – Source TradeTheNews.com
(07:01 am)
Mitch King:homebuilding stocks spike after
uptrend today: DHI, TOL, PHM,
KBH
(07:07 am) Mitch King:VMW strong
trend
(07:07 am) Mitch King:HLF getting
more bullish
(07:12 am) Mitch King:CYH
alert
(07:12 am) Mitch King:CYH spiking
down
(07:15 am) Mitch King:THC dropping
fast
(07:16 am) Mitch King:Obamacare
ruling
(07:16 am) Mitch King:HCA, CYH, THC
in healthcare sector
(07:16 am) Mitch
King:health care stocks caused by Obama
statements
(07:17 am) Mitch King:07:16
(US) Reportedly Obamacare aid payments for
healthcare exchanges have been barred in
court ruling – press – Source
TradeTheNews.com
(07:30 am) Mitch King:as
well as CYH
(07:30 am) Mitch King:watching
HCA again
(07:31 am) Mitch King:HOS new
high
(08:17 am) Murano :watching
ITMN
(08:24 am) Mitch King:NUS
(08:30
am) Mitch King:look for 30-40 cents, maybe
more
(08:30 am) Mitch King:watching NUS
for another long entry on this dip
(08:32
am) Mitch King:the spike in GPOR is going to
eventually be an opportunity to
short
(09:48 am) Mitch King:watching two
stocks: ITMN for a long entry fairly
soon, 30-50 cent potential profit and HLF for
long entry as well. HLF needs to drop
lower toward 59.50 first
(11:03 am)
JoeyTSA :MJN spike
(11:36 am) Murano
:watching NCR
(12:23 pm) Murano :watching
DB
| (05:37 am) Qwert :Good morning Joey
(05:38
am) JoeyTSA :good morning Qwert
(05:39 am)
JoeyTSA :hpi # @ 6, existing home sales and
richmond manu @ 7
(05:45 am) Murano :good
morning
(05:46 am) Qwert :gm
Murano
(05:47 am) toby1115
:gm
(06:01 am) skydiver :gm all –
CMG – Chipotle price target raised to $730
from $680 at RBC Capital RBC Capital
increased its price target on Chipotle after
the company reported stronger than expected
results and said its comp restaurant sales
had surged 17%. The firm expects the company
to generate “outsized” EPS growth through
1H15. It keeps an Outperform rating
(06:02
am) Qwert :thx sky
(06:03 am)
skydiver ::)
(06:03 am) JoeyTSA :thx
sky, qwert
(06:03 am) rayeh :gm
traders
(06:03 am) skydiver :and
thanks joey for gappers and info
(06:08
am) rd :morning to all. CMG reported
great earnings
(06:14 am) freitag8
:GM… I’m looking to trade CMG on a swing
trade… this could go up for a while. Thx
for all the info !
(06:16 am)
freitag8 :any news on /CL for the
moderate drop the last hour?
(06:18 am)
skydiver :HLF CFO on CNBC refuting Bill
Ackman’s meeting today sharing he’s going to
show some sort of probe of fraud? –
with HLF
(06:21 am) skydiver
:thnx Mitch
(06:25 am) Mitch King:I still
think Ackman is missing the overall picture
with HLF, his beef is the compensation model
of network marketing. that is what he
is basing his charges of “fraudulent pyramid
scheme” statements.
(06:25 am) JoeyTSA
:seems like a bonehead to me
(06:26 am)
Mitch King:there are many dozens of
publically traded companies whose
compensation plans are based on this model,
including Avon, many others
(06:26 am)
skydiver :and he’s short big time and
needs HLF to go down
(06:26 am) Qwert
:they have same model as avon
right?
(06:26 am) JoeyTSA :lots of
pyramid/network companies out there
(06:26
am) Mitch King:right
(06:26 am) Mitch
King:he is now trying to persuade Icahn to
sell his long position.
(06:26 am) JoeyTSA
:Icach will double down haha
(06:27 am)
Mitch King:he will at this price
level
(06:27 am) Mitch King:just went to
51.25 this morning
(06:27 am) Mitch
King:note that Ackman’s statements of
holding a short position to “end of
time” has not been moved into longer term put
options, not short stock
(06:28 am) Mitch
King:so lost credibility again.
(06:28 am)
skydiver :thanks Mitch
(06:28 am)
freitag8 :Thx Mitch
(06:29 am) Mitch
King:im always leery around people who are so
egotistical in such a public way, pounding
the table that he is right. i rarely
find that type of personality is going to be
consistent with performance
(06:32 am)
freitag8 :/CL near LOD
(06:33 am)
regatta :watching GLUU
(06:34 am)
freitag8 :AAPL strong out the
gate
(06:39 am) freitag8 :I have
(person pivot) PP at 102.42 on /CL
(06:43
am) freitag8 :/CL testing LOD
again
(06:45 am) freitag8 :new LOD
/CL
(06:50 am) JoeyTSA :nice little bounce
on /ES
(06:50 am) regatta :NMBL
moving up
(06:51 am) JoeyTSA :eye on 1977
/ES
(06:53 am) Mitch King:HLF psycho
spread
(06:54 am) Mitch King:good one on
NFLX joey
(06:55 am) JoeyTSA :NFLX, CMG
both hav spreads bouncing around
(06:57
am) regatta :watching ORLY
(07:04
am) skydiver :HLF took off
(07:04
am) regatta :watching GLUU
(07:06
am) JoeyTSA :watcing WWD again
(07:06 am)
freitag8 :/CL at my PP and new
LOD
(07:08 am) JoeyTSA :nice push thru
1977
(07:09 am) JoeyTSA :missed AMZN, ye
on $360
(07:09 am) JoeyTSA :eye
on
(07:10 am) Mitch King:Ackman saying
that low income people in foreign countries
are bottom of pyramid
(07:11 am) Mitch
King:man his ego is bigger than
Antarctica
(07:11 am) JoeyTSA :last person
is is alway the bottom of a pyramid
(07:11
am) JoeyTSA :maybe he tried the product and
couldnt lose weight 🙂
(07:11 am)
Mitch King:the key issue attorney generals
have problem with is if the new guys can make
as much money as the top guys
(07:12 am)
Mitch King:if they cannot make as much
through time, then they dont like that comp
plan
(07:12 am) JoeyTSA :great calls, back
in 20
(07:12 am) skydiver :enjoy
joey
(07:14 am) scalpman :THC
watch
(07:17 am) skydiver :tax
credits are illegal according to the
court
(07:17 am) skydiver :thnx
scalp for THC
(07:18 am) Mitch King:is
this victory for obamacare or for
opponents?
(07:18 am) skydiver :I
think opponents if I read correctly
(07:18
am) Mitch King:ok thx
(07:19 am) Mitch
King:UHS also part of spike similar to
CYH
(07:20 am) Mitch King:was that fast
enough of a move fo ryou sky?
(07:20 am)
Mitch King:CYH?
(07:20 am) skydiver
:just right 🙂
(07:20 am) Mitch King:lol,
good one
(07:20 am) skydiver
::)
(07:20 am) Mitch King:sky likes
immediate gratification, instant
profits
(07:21 am) skydiver :right
🙂
(07:21 am) Mitch King:you struggle with
slow moving trends ?
(07:21 am)
skydiver :at my age I don’t buy green
bannas 🙂 yes slow is slow 🙂
(07:21
am) Mitch King:most profits are from trends
in stock market
(07:21 am) Murano
:monitoring ABB
(07:22 am) Mitch King:my
guess is over 60% are trending
(07:22 am)
skydiver :right — got to get my
attitude corrected – thanks Mitch
(07:22
am) Mitch King:you dont need to change, stay
with what you are doing
(07:22 am)
skydiver :ok
(07:23 am) Mitch
King:im a big proponent of fitting the
trading style to your personality
(07:23
am) skydiver :gotcha
(07:23 am)
Mitch King:but the top, very top traders can
do different techniques at same time.
im just saying there is more potential
profits if you learn both
(07:24 am)
skydiver :sounds good –
(07:25 am)
Mitch King:i was a one trick pony for first 5
years, then 2 trick pony after 10
years, got about 5 tricks now after 21
years
(07:26 am) regatta :watching
UTX
(07:26 am) Mitch King:HLF 57.46 now,
should get over $60 this week
(07:27 am)
freitag8 :/cl bounced right off my
PP… taking some profits off here
(07:31
am) skydiver :taking 3/4 off table on
HLF
(07:32 am) skydiver :that ws HLF
long
(07:39 am) rd :eye on
nflx
(07:39 am) skydiver :My time is
up . . .great morning . . thanks for awesome
calls . . see you all tomorrow 🙂
(07:39
am) Mitch King:later sky
(07:39 am) Murano
:see you sky
(07:40 am) rd :great
day sky
(07:40 am) Murano :DFRG having a
bad day
(07:40 am) freitag8 :Bye
Sky
(07:41 am) Mitch King:07:29
[DFRG] Financial blog makes cautious
comments after Q2 report, makes case for
short position – Link:
http://app.hedgeye.com/unlocked_content/36885
-flashback-a-castle-in-the-air-or-why-you-sho
uld-short-del-frisco-s-dfrg – Source
TradeTheNews.com
(07:50 am) freitag8
:/CL back near my PP
(07:54 am)
regatta :WAC spike
(08:01 am) Murano
:reduce ABB if short didn’t
fall as far as I thought it would
(08:06
am) JoeyTSA :/ES testing 1980
(08:20 am)
Murano :reduce ITMN if short
(08:21 am)
regatta :watching PXLW
(08:23 am)
Mitch King:should get a bounce on
ITMN
(08:23 am) Mitch King:news on iTMN
last 2 days: 20 Jul 23:21 [ITMN]
ITMN Hearing takeover speculation
related to Glaxo – Blog more… 17 Jul 09:38
[ITMN] ITMN Receives FDA
Breakthough Therapy Designation For
Pirfenidone, An Investigational Treatment For
IPF – In May, InterMune resubmitted its New
Drug Application (NDA) for pirfenidone and
noted a target F more… – Source
TradeTheNews.com
(08:24 am) Mitch King:NUS
had no followthrough, i thought it was going
to be a runner
(08:24 am) Murano :covered
last 1/4 ITMN
(08:25 am) rd :eye
dfrg for short
(08:40 am) Mitch King:my
read on DFRG as a short is not strong enough
of idea, i’d look for something else, too
close to 50-50
(08:46 am) Mitch King:hey
rd, look at EDU chart today, looks same as
DFRG,meandering up, sort of aimless, no
strong trend direction
(08:50 am) Mitch
King:finally, GOOG getting anti-trust
probe
(08:51 am) Mitch King:by
EU,
(08:51 am) Mitch King:then usually
comes US FTC, then states attorney generals,
might take 10 years like MSFT
(09:23 am)
JoeyTSA :nice move on HLF
(09:23 am) Mitch
King:.HLF over 61
(09:24 am) Murano
:Ackman must be scratching his head
(09:24
am) Mitch King:he is probably buying and
covering himself
(09:24 am) Murano
:yeah
(09:24 am) JoeyTSA ::)
(09:25 am)
Murano :haha
(09:26 am) Mitch King:when i
saw HLF chart this morning, i saw it was
setting up for a big rebound on the daily
chart
(09:26 am) Mitch King:he is also an
idiot for making his position so
public
(09:27 am) Mitch King:end of time,
come on, end of time with stock options,
right
(09:28 am) Mitch King:and then he
says well, its only 0.7% of my total
portfolio. hey guy, you lost $200 mil
of customers money
(09:29 am) Mitch King:i
would think lot of people would pull out of
his fund watching how he thinks and trades,
wreckless
(09:34 am) JoeyTSA :i wouldnt
trust him
(09:36 am) Mitch King:me
neither, big egos blind the egotist, they can
only see one thing, what they want to
see
(09:36 am) Mitch King:thats Mitch
confuscius
(09:48 am) JoeyTSA :watcing
NFLX again
(09:55 am) Mitch King:so much
for HLF 59.50 area for rebound area, makes
sense a strong stock wouldnt drop
much
(09:56 am) Mitch King:next step is to
see if we get a double top
(10:02 am)
Murano :monitoring FMER
(10:08 am) Mitch
King:no double top for HLF, just powering
through
(10:09 am) Mitch King:too early on
daily chart to be overbot
(10:14 am) Mitch
King:missed long entry of ITMN at 45.86,
didnt pay close enough attention, sat on my
hands with HLF long entry, not getting enough
sleep
(10:16 am) Mitch King:if you are
still long ITMN, see if it goes above 46.40
before selling
(10:16 am) Mitch King:ok
new high, uptrend still intact
(10:17 am)
Mitch King:next area to watch for long entry
on HLF is 62, maybe lower now that stock is
up from low 50s today
(10:17 am) Mitch
King:i dont use as big of position after this
big of a move in one day
(10:18 am) Mitch
King:but since Ackman is done presenting his
case on Herbalife, he shot all his
ammunition, he is out of bullets for now so
only place HLF could go was up. all he
did was rehash, recycle same
complaints
(10:19 am) Mitch King:this is a
20% move since premarket low of 51.25 area to
63 now
(10:20 am) Mitch King:ideal for
long entry to hit 61.50 area before bouncing
but still strong., 16.6 mil shares traded so
far
(10:21 am) Mitch King:strong acting
stocks don’t retrace as much
(10:25 am)
regatta :watching DDD
(10:26 am)
Mitch King:looks like HLF entry is here
long
(10:28 am) Mitch King:HLF heading ofr
a new high
(10:29 am) Mitch King:ITMN not
going to give another good long entry, i
wouldnt trade ITMN long again, lost
momentum
(10:30 am) Mitch King:if you are
long HLF id hodl some over 63.50, probably
hits 64+
(10:31 am) Mitch King:this quick
of rebound and steep of rebound can get into
that blowoff top pattern but double top
behavior being shown now
(10:31 am) Mitch
King:should break through 63.50
though
(10:32 am) Mitch King:weak sell
signal on HLF
(10:36 am) Mitch King:that
folks is a double top on HLF. usually
it takes a while to rebuild into
another long but odds start shifting against
you that it goes higher
(10:36 am) Mitch
King:lot of research showing these double
tops are top about 65-70% of the time, kind
of put that in back of yoru mind
(10:37
am) Mitch King:its uncomfortable to go
against that
(10:45 am) Murano :out all
FMER not much bounce
(11:03
am) JoeyTSA :nothing major n MJN
yet
(11:04 am) Mitch King:where is our
brazilian friend, is he still hung over from
soccer?
(11:04 am) JoeyTSA :either that or
travelling
(11:05 am) Mitch
King:[MJN] Reports Q2 $0.88 v $0.90e,
R$1.11B v $1.10Be – Guides FY14 $3.65-3.72 v
$3.69e, Rev no less than +9% (implies $4.57B
v $4.43Be) – Source
TradeTheNews.com
(11:18 am) rd :got
to go. have a great day.
(11:19 am)
skydiver :I shorted MJN a bit ago at
97.99 – any ideas?
(11:20 am)
skydiver :I jumped on pretty fast
without really studying it while
multi-tasking here at the office
(11:20
am) skydiver :It looked promising to me
however
(11:21 am) skydiver
:covering 3/4 of MJN
(11:22 am)
skydiver :thanks joey for MJN call –
sorry to have interuppted in my
“hurry”
(11:23 am) skydiver :ok –
all out of MJN short – back to a meeting
🙂
(11:25 am) JoeyTSA :good job sky
🙂
(11:32 am) skydiver :thnx joey –
great call 🙂
(11:40 am) JoeyTSA
:unfortunately wife neededme and i missed
it
(11:41 am) skydiver :well joey .
. . happy wife . . happy life 🙂
(11:42
am) JoeyTSA :its her shoes that get left at
the store hahaha
(11:50 am) Murano :weak
bounce on NCR keep tight
stop
(11:54 am) Murano :stopped NCR
looking to re-enter long closer to
35
(11:54 am) Murano :31
(11:58 am)
skydiver :any news on NCR
(11:59 am)
Murano :don’t see any news on NCR
(11:59
am) skydiver :thnx Murano
(12:03 pm)
Murano :I do not like the way NCR is
acting
(12:07 pm) skydiver :nice all
on NCR Murano
(12:10 pm) Murano :reduce
NCR if long
(12:10 pm) Murano :thanks
sky
(12:11 pm) Murano :looking for 31.90
area last 1/4 NCR
(12:11 pm) Murano :stop
at 31.59
(12:23 pm) Murano :out last 1/4
NCR
(12:27 pm) JoeyTSA :Thanks
Mitch,Murano,Qwert,traders…have a great
day, see you tomorrow but i might be
late
(12:27 pm) Murano :reduce DB if
short
(12:28 pm) JoeyTSA :might have to
sleep in after a long night at the
farm
(12:29 pm) Murano :see you
Joey
(12:31 pm) Murano :covered last 1/4
DB
(12:37 pm) Murano :done for the day,
see you tomorrow
(12:39 pm) skydiver
:take care Murano – and thanks
again
(12:39 pm) Mitch King:thx
murano
(12:45 pm) skydiver :I’m gone
too — luncheon to get to – thanks again –
great day 🙂 see you in the
morning
(12:45 pm) Mitch King:later
sky
(12:46 pm) Mitch King:prob good action
next couple of days in trading
(12:46 pm)
skydiver :sounds good 🙂
(12:48 pm)
regatta :mitch, any thoughts for GLUU
as a swing short
(12:49 pm) Mitch King:it
looks sustainable upward, might have a little
pullback but would not be surprising to see
more upside on this one
(12:50 pm) Mitch
King:are you thinking of shorting
now?
(12:50 pm) regatta :was
consdering it
(12:50 pm) Mitch King:if you
are short now, expect a little more
pain first before pullback
(12:51 pm)
Mitch King:if you are not short yet, i’d wait
til tomorrow or try really small position
here next 9 min. lower risk to wait til
tomorrow though
(12:51 pm) regatta
:tomorrow sounds better
(12:51 pm) Mitch
King:if it drops early pretty good drop,
short on rebound. let it prove its
weakening
(12:51 pm) Mitch King:make
sense?
(12:51 pm) regatta
:yes
(12:51 pm) Mitch King:i dont know a
medical word picture but i bet there is some
analogy there
(12:52 pm) Mitch King:how is
the homework assignment i gave you
going? you getting it?
(12:53 pm)
regatta :working at it each
night
(12:53 pm) Mitch King:review HLF,
there were 7 trades in it like i showed
you
(12:54 pm) Mitch King:memorize that
chart so you dream about it while
sleeping
(12:54 pm) Mitch King:or while
you are sailing
(12:54 pm) Mitch King:but
not while you are doing surgeries
(12:54
pm) regatta :lol
(12:55 pm)
regatta :i took one trade on HLF today
at ~945 est, and let it run up to 60.50 then
closed
(12:55 pm) Mitch King:nice job, big
one
(12:56 pm) Mitch King:pretty gutsy to
have that drawdown from 59.28 back to under
57 and then back up to 60.50
(12:56 pm)
Mitch King:what were you doing, seeing
patients
(12:56 pm) regatta :about
13.8% felt good
(12:56 pm) Mitch King:now
thats more extreme than what ive been talking
to you about but HLF had hot news, market
concluded Ackman was ripe for the
taking
(12:56 pm) regatta :had day
off today, back at it tomorrow
(12:57 pm)
Mitch King:ok tomorrow, HLF is going to
oscillate more than trend. this was
probably a one day wonder for HLF, dont
expect or mentally insist it will repeat,
odds are it wont
(12:57 pm) Mitch
King:comprende?
(12:57 pm) regatta
:yep
(12:58 pm) Mitch King:memorize early
part of EDU chart, same as HLF but
inverted
(12:58 pm) regatta :will
study both tonight
(12:59 pm) Mitch
King:let me find a couple others for you,
just a min
(01:00 pm) Mitch King:VMW was
similar to HLF, these aren’t normal charts
day in and day out, these are more exceptions
to rule. really steep incline, hard to find
entry
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