Today we unleashed ttt.nets latest upgrade which has turned out to be a huge success and advantage for members of our stock picking program : BLACK SERVICE . Now every day i will be broadcast live during the session a video feed from my trading computer here in always sunny San Diego.

Day Trading Stock Pick #1 - MALL

PC MALL reported record earnings and issued a share buyback program causing some huge momentum in its stock price today after enduring the long lasting sell off. I alerted black service members to go long here at 3.55 on the initial breakout with a target sell area near $4/share which we hit near the close. I took profits at 3.97

Technical Analysis:

Day Trading Stock Pick #2 - ODP

ODP was looking to make a very strong move into the close on the move above $3/share and i alerted black service members to go long at 2.92 prior to the actual breakout as market internals were looking strong. With the heavy volatilty into the close it was hard to say which direction the market was heading. I sold 1/2 at $3 and the rest at 3.14 fo a nice short term gain.

Technical Analysis

It was a decent day for some trading opportunities, almost too many opportunities that it was hard to catch anything at the right time trying to follow so many different stocks. As well by mid day as we were up around 600 points i was skepticle to see the market continue higher. Yet i guess we can’t be surprised by anything in this current market environment.

Day Trading Stock Pick #1 - Long MS

MS always seems to treat me better than bad as i usually can pull a profit on this stock. Yet it is a dangerous stock as it can move so much so quickly on an extreme amount of volume. I picked up some shares and alerted our Black Service members to go long at 14.76 as price was consolidating in a nice looking ascending triangle pattern.

Note that you don’t want to go long on the first breakout of a stocks resistance as it usually leads to a false breakout. The 3rd breakout from a resistance point is the most reliable move to play. Not to say it always works because it doesn’t. But its the safest. Although secondary breakouts do happen as well as i was watching RRI today for a long position and missed it as it broke the secondary breakout point around 5.45 when i was waiting for a 3rd. So sure i missed that one, but trying to play secondary breakouts all the time and your pressing your luck. You will have a better success rate play the 3rd thus make winning trades more consistently.

I took profits shortly after on MS near $16 which was the current high of day area at the time for a solid 7%+ day trade. MS sold off and then continued on after that but in this hectic market i’m not looking to gamble and see what may happen towards the rest of the session. I’m in, I’m out, i made some scrilla!

Day Trading Stock Pick #2 - Short PNX

Second stock i attempted to tackle had a very high risk/reward ratio as PNX had traded up from 2.68 to just under $7/share in 2 trading sessions making a short with a tight stop very attractive here. Early in the morning it appeared momentum was in our favor for the bears as the gap up broke down and i went short at 6.40 and alerted Black Service Members.

Holding throughout the session it whipsawed up and down in a triangle formation until finally with the market becoming increasingly strong i decided to cover this position for small loss of just 2% before it could make significant damages to my MS day trade. This stock still has a very strong potential for a short later into this week but needed to cut my losses for now which turned out to be a very wise decision as it brokeout from its intraday triangle.

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Small Cap Stock Pick #1

??? has been forming a very bullish consolidation pennant since it made its initial big boom on heavy volume indicating that this bearish trend could be making a reversal for the short or long term.  Looking at the chart their is some heavy resistance in the $10 area over the course of the past 6 months or so but judging the momentum i’d say there is a good chance that we could see a breakout above $10 in the near future. I’m willing to bet my money on it so i alerted BLACK SERVICE members to go long at 9.64.

technical analysis:

Small Cap Stock Pick #2

???? i took notice to last friday because of the excellent looking bullish chart it is forming. It made another decent 5% move today yet stalled near breakout resistance of 3.90. If this stock breaks out above 3.90 its very probable that we will see a decent upside move for the bulls and i want to be part of it. I want to go long a move through 3.90.

technical analysis:

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Small Cap Stock Pick #1

???? we just traded recently for a solid short term gain but it looks like it could be setting up for another big move that we can capitalize on as this stock has been very volatile so while we could see some big gains it also poses some risk. Price action made an awesome bounce off of the 13ema support level and rallied 24.5% Tuesday to close at 1.93 up .09 from our entry at 1.84. This chart is just so sexy, i needed to take it for round 2 of love making.

Technical Analysis:

Small Cap Stock Pick #2:

???? is another stock thats chart was just way to attractive for me to pass up as this stock has been beaten down dramatically over the course of 08′ . But with this recent volume and bullish chart behavior i needed to hop in for some action. Price made a great looking bounce off of the 13ema trend support level on increased volume rallying 21% tuesday as well as breaking out from its bullish pennant formation which suggests a continuation to the upside. We bought ???? at 8.44. Next strong resistance level is near $10 which may be a good spot to take some profits. But a breakout above $10 will be a very bullish move.

Technical Analysis: