I did everything by the book today so I'm happy. It doesn't pay to say if I had only covered there, I'd be rolling in dough. You have to be realistic and thankful that you're able to play this wonderful game every day. As Buzzy Schwartz is fond of saying: "Every trader wants to short the high, cover the low, and do it three times as large." See you next week, guys.

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PAYX was trading all over the place at the close... assuming you covered 36.50 you would have made a tiny gain... enough to offset the losses in PLCM and ACAI anyway. When the broad market turned up in the afternoon it was tough to make a buck holding short from the morning.

PAYX, 30-minute chart

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Stopped out at the tightened stop in PLCM at 18.52.

PLCM, 30-minute chart

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Depending on how skillfully you covered ACAI at day's end, you could have either scratched it or lost as much as a dime.

ACAI, 30-minute chart

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Some interesting feedback about my plan to charge for a same-day blog. Everything from "you are crazy" to "you should charge $400 a month."

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PLCM bounced off of 18 with a vengeance, that's a stop out. ACAI couldn't take out the low and has gone nowhere... that's a loss. PAYX broke down nicely, but it's not a big winner. Looks like a breakeven day, though I haven't run the exact numbers. I'll do a re-cap after the close.

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First I'd like to say to my many visitors from Yeshiva University. You guys are practically crowding out the Goldman Sachs crowd. ;-)

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OK guys, I'll be back at the close. Tighten the old p-stops if things drop to around 36.40 PAYX, 8.45 ACAI, and 18.10 PLCM, assuming you're not stopped out for a loss in the meantime.

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P-stop 9.15 ACAI ... a bit wider this one is.

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P-stop 37.02 PAYX

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Still watching ACAI and PAYX for a spot.

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You can see the nice bear flag PLCM formed yesterday afternoon as it collapsed. There are still sellers but don't be surprised if it snaps back with a vengeance at some point and stops you out.

Polycom, 30-minute chart

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This 11 o'clock bar forming in PLCM is kind of an expansion bar so don't be surprised if it snaps back. I think p-stop 18.80 is plenty wide... less than 2% at risk which is very nice. If it goes to 18.10 it would be smart to tighten the old p-stop.

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P-stop 18.80 PLCM.

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Some folks are already short ACAI at 8.97 off the 15-min. chart but I'm hanging back with the 30-min. chart for now. PLCM is another candidate for the Watch List.

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The tone has flipped positive but I've still got an eye on ACAI and PAYX.

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Tone is a little negative so far this morning... Triple Witching means that prices get guided to certain levels which makes things a bit tricky. ACAI, PAYX unusually active on the downside.

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Eyes on ACAI, ATYT, MESA, RHAT, TLCV, among others.

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Yesterday's coils in CIEN and ASKJ both worked out to be nice trades, but it was a trend up day and everything goes up on those days, set up or not.

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Invitrogen (IVGN) set up once again.

IVGN, 30-minute chart

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Newmont Mining (NEM) is also in breakout mode.

NEM, 30-minute chart

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Agnico Eagle Mines (AEM) is coiling nicely.

AEM, 30-minute chart

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Vanguard posted an interesting chart showing that the average account balance in Vanguard 401(k) accounts at mid-year 2003 is right around year-end 1999 levels. This is the kind of news that drives the bears nuts.

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