[06:16 am] Mitch K: Mitch King: hi guys and
girls, have you been behaving?
[06:22 am] Brent : Brent : good morning
[06:22 am] Kris : Kris : Good Morning
Traders
[06:24 am] Kris : Kris : This morning I’m
watching TIVO, DG, MAKO, ALXN, NGD, WLT,
SODA, PAY and URBN on the long side.
[06:25 am] Kris : Kris : BBY, AMTD, CYH,
JNPR, NVDA, YHOO, DRI and QLIK on the short
side.
[06:25 am] Mitch K: Mitch King: my guess is
we get this surge up that we are seeing in
premarket and normally what happens is we
have some sort of selling from the profit
takers. It should be a shortable pullback
and then we will see if we get more
uptrending today. Even though that is what I
am looking for, keep trading what you see,
not what you anticipate
[06:30 am] Kris : Kris : JDSU long half
[06:31 am] Kris : Kris : GMCR long half
[06:32 am] Kris : Kris : MU long half
[06:33 am] Kris : Kris : SNDK long half
[06:34 am] Mitch K: Mitch King: looking for
bottom in LQDT
[06:35 am] Kris : Kris : SPY support around
118.00
[06:36 am] Kris : Kris : out half JDSU
long
[06:36 am] Kris : Kris : SINA long half
position
[06:36 am] Mitch K: Mitch King: looking for
top in VRSN
[06:37 am] Kris : Kris : GMCR long second
half
[06:37 am] Kris : Kris : out half SNDK
long
[06:37 am] Kris : Kris : starting to see some
buying come across the tape
[06:38 am] Kris : Kris : looking for new hod
breakout on GMCR
[06:38 am] Kris : Kris : out half GMCR
long
[06:39 am] Kris : Kris : MU consolidating
near the hod, will look to add second half
soon.
[06:39 am] Kris : Kris : out another 1/4 JDSU
long
[06:39 am] Kris : Kris : waiting to add
second half to SINA long
[06:40 am] Kris : Kris : lol[06:40 am] Kris :
Kris : looks like she wants to retest the
lows
[06:40 am] Kris : Kris : SPY not quite ready
for the bounce
[06:40 am] Kris : Kris : typical
[06:41 am] Kris : Kris : gmcr[06:41 am] Kris
: Kris : green tape
[06:41 am] Kris : Kris : SINA new hod[06:42
am] Kris : Kris : moving up stop, MU lagging
a little
[06:42 am] Kris : Kris : out another 1/4
GMCR
[06:42 am] Kris : Kris : out another 1/4 SNDK
long
[06:42 am] Kris : Kris : out half MU long
[06:42 am] Mitch K: Mitch King: looking for
top in VRSN
[06:43 am] Kris : Kris : out half SINA
long
[06:43 am] Mitch K: Mitch King: DRI looks
like short, late to see
[06:43 am] Mitch K: Mitch King: looking for
short in REGN soon
[06:44 am] Kris : Kris : out another 1/4 SINA
long
[06:44 am] Kris : Kris : SPY testing hod
soon
[06:44 am] Kris : Kris : still has steam
could push to new highs
[06:44 am] Mitch K: Mitch King: looking for
short in NAV
[06:45 am] Brent : Brent : watching X for a
short
[06:45 am] Kris : Kris : guess the market
liked that news out of europe.
[06:45 am] Kris : Kris : still seeing
buyers
[06:45 am] Mitch K: Mitch King: getting tops
in now
[06:47 am] Kris : Kris : MCP long half
[06:48 am] Kris : Kris : AOL long half
[06:50 am] Kris : Kris : SPY holding up, look
for a long in TNA on the breakout to new hod
on SPY
[06:50 am] Kris : Kris : URBN new hod[06:51
am] Kris : Kris : WLT new hod[06:51 am] Mitch
K: Mitch King: consider covering DRI around
44 area
[06:51 am] Mitch K: Mitch King: looking for
under 38 on NAV
[06:51 am] Mitch K: Mitch King: NAV turning
over hard
[06:51 am] Mitch K: Mitch King: VRSN turning
over
[06:52 am] Mitch K: Mitch King: watching NEE,
Nextera[06:53 am] Mitch K: Mitch King: LQDT
finally turning up,
[06:54 am] Mitch K: Mitch King: DVN turning
over, shortable soon
[06:55 am] Kris : Kris : SPY still
consolidating in this range, holding the gap
so far this morning.
[06:55 am] Mitch K: Mitch King: DVN turning
over, shortable soon consider reducing NAV
short soon
[06:56 am] Kris : Kris : SHLD long half
[06:56 am] Mitch K: Mitch King: NAV stuck at
38 consider covering
[06:57 am] Mitch K: Mitch King: NEE
bottoming
[06:57 am] Mitch K: Mitch King: toppy
[06:57 am] Mitch K: Mitch King: watching URBN
for short soon, toppy now
[06:58 am] Kris : Kris : getting more buyers
coming in again
[06:58 am] Kris : Kris : she’s coiling up
nicely.
[06:58 am] Kris : Kris : SPY pushing hod
resistance
[06:58 am] Kris : Kris : WLT trying to push
new hod[06:59 am] Kris : Kris : SFSF long
half
[06:59 am] Mitch K: Mitch King: see how DRI
is stuck in this 44.15 range, that should
tell you to cover any short acting like
that
[07:00 am] Brent : Brent : watching WPRT for
a short
[07:02 am] Kris : Kris : NXPI long half
[07:03 am] Kris : Kris : building a support
trendline on the spy
[07:03 am] Mitch K: Mitch King: consider
closing LQDT long or at least reducing
[07:03 am] Mitch K: Mitch King: watching NAV
for 2nd helping short, over $39
[07:04 am] Kris : Kris : although it works
for today
[07:04 am] Mitch K: Mitch King: this 716am
post from Kris is days old, still bug in
system “getting more green coming” is not
from today
[07:05 am] Kris : Kris : JVA long half
[07:05 am] Kris : Kris : SHLD new hod[07:05
am] Mitch K: Mitch King: oh crap, this isn’t
accurage on the display, I am showing LQDT,
what do you guys see, i might have to
reset
[07:06 am] Kris : Kris : and start looking
for more weak stocks against this rally to
setup for short trades.
[07:06 am] Kris : Kris : SPY coming into some
good resistance here, I’m gonna start being
cautious with my longs.
[07:07 am] Kris : Kris : out half SHLD
long
[07:07 am] Kris : Kris : WLT a beast
[07:08 am] Kris : Kris : nice one matt
[07:09 am] Kris : Kris : out half NPXI
long
[07:09 am] Kris : Kris : out half SFSF
long
[07:10 am] Kris : Kris : SNDK consolidating,
still have a piece waiting for new hod[07:10
am] Kris : Kris : SPY new hod[07:10 am] Kris
: Kris : still holding trendline[07:11 am]
Kris : Kris : MCP moving up, should test hod
soon then I’ll look to start taking some
profit
[07:11 am] Mitch K: Mitch King: i think i was
saying to consider closing LQDT long
[07:13 am] Kris : Kris : WLT strong
resistance near 98
[07:14 am] Mitch K: Mitch King: SORRY GUYS, i
had to reset the whole computer. i think the
trading room platform is conflicting with
etrade platform, I’m sure of it
[07:16 am] Kris : Kris : XLNX short half
[07:17 am] Kris : Kris : VRUS short half
[07:17 am] Mitch K: Mitch King: NEE was a
long earlier swingtrader[07:18 am] Kris :
Kris : I was in WLT long but I’m all out
now
[07:18 am] Kris : Kris : I would prefer to
short stocks with relative weakness
[07:18 am] Kris : Kris : I’m not sure I’ll
short it derns[07:19 am] Kris : Kris : VIP
short half
[07:20 am] Kris : Kris : NEM short half
[07:21 am] Mitch K: Mitch King: first glance
on PETD mhaus, is it looks dangerous to
short
[07:21 am] Mitch K: Mitch King: must be a
thin float
[07:21 am] Mitch K: Mitch King: ok, i got it,
i was on VRSN on my computer and i clicked on
the draw mode and then it displayed VRSN to
you
[07:22 am] Mitch K: Mitch King: REGN has
larger profit potential than most
[07:23 am] Brent : Brent : WPRT finally
breaking down, consider reducing some here if
short
[07:23 am] Kris : Kris : don’t’ want to give
it up
[07:23 am] Kris : Kris : markets still acting
strong
[07:23 am] Mitch K: Mitch King: REGN could
easily get below 67 today
[07:24 am] Kris : Kris : out half NEM
short
[07:24 am] Mitch K: Mitch King: start
watching GOLD, Rangold Reserves. not ready
for a buy but developing
[07:25 am] Kris : Kris : LNKD long small
position
[07:28 am] Kris : Kris : SPY at support
level
[07:28 am] Mitch K: Mitch King: not a lot
more potential upside on GOLD
[07:30 am] Kris : Kris : seeing some red
here
[07:31 am] Kris : Kris : YHOO new lows
[07:31 am] Mitch K: Mitch King: VRSN, anyone
short this. i see this as a process of
breaking down to lower lows with intermittent
rebounds. if it keeps dropping you start
watching for a rebound. so if you are
short, you want to cover on that buy signal.
a buy signal is same as buy to cover or buy
long, make sense? so far, VRSN heading down
still
[07:32 am] Kris : Kris : FFIV long half
[07:34 am] Brent : Brent : consider reducing
more WPRT if still long
[07:34 am] Kris : Kris : looking to add
second half to LNKD soon
[07:37 am] Kris : Kris : lnkd[07:37 am] Kris
: Kris : LNKD long second half
[07:37 am] Mitch K: Mitch King: there is your
signal to cover VRSN here
[07:38 am] Mitch K: Mitch King: and what you
do is watch for a second short around right
here on VRSN, see blue marker
[07:39 am] Mitch K: Mitch King: but of course
you watch it and if it turns over before
then, you can short a smaller amt than
normal, in case it does what it is doing now
and going back down, especially important
when it makes lower lows
[07:41 am] Mitch K: Mitch King: watching GOLD
for short
[07:41 am] Mitch K: Mitch King: worth small
short here, GOLD
[07:50 am] Mitch K: Mitch King: watching CHK
for short
[07:51 am] Kris : Kris : XLNX coming down,
looking for new lod[07:55 am] Kris : Kris :
it’s gonna see some support at 30.00 then
29.60
[07:58 am] Kris : Kris : buyers coming in
here
[07:58 am] Kris : Kris : could push through
overhead resistance on the spy, I’m gonna be
watching it for a breakout
[07:58 am] Kris : Kris : keep you eye on
strong stocks that have been consolidating,
could be worth a long soon.
[07:58 am] Kris : Kris : now I’m starting to
type like Itacher[07:58 am] Kris : Kris :
your
[07:59 am] Kris : Kris : I mean
SwingTrader[08:02 am] Mitch K: Mitch King:
JCI, Johnson controls, looks like slow drift
down
[08:04 am] Mitch K: Mitch King: still looking
for VRSN to drift down as well. VRSN goes
down when indexes still strong so good sign
there is selling pressure still in VRSN
[08:05 am] Brent : Brent : SPY looking to
test hod[08:14 am] Mitch K: Mitch King:
monitoring DOV for a short
[08:17 am] Kris : Kris : FFIV holding up,
looking for new hod[08:25 am] Kris : Kris :
TSL short under 11.97
[08:31 am] Mitch K: Mitch King: URI short
here
[08:33 am] Kris : Kris : see what kind of
pullback we get in the market here. still
looking trendy
[08:35 am] Mitch K: Mitch King: consider
covering first helping short on URI
[08:35 am] Mitch K: Mitch King: didn’t I
mention DOV earlier?
[08:36 am] Mitch K: Mitch King: watching
YOKU, going to be a good long
[08:36 am] Mitch K: Mitch King: YOKU soon, no
buy signal yet. watching YOKU, going to be a
good long
[08:37 am] Mitch K: Mitch King: see
increasing volume each bar on 1 min chart and
decreasing vol[08:38 am] Kris : Kris : WLT
new hod[08:38 am] Mitch K: Mitch King: URI
head fake, more downside, lower lows, too
late to short 2nd time now
[08:41 am] Kris : Kris : SPY coming into
support
[08:41 am] Mitch K: Mitch King: if anyone
still short URI, should bounce off 17 area
[08:42 am] Kris : Kris : still seeing buyers
coming in, could be headed for another move
up in the markets
[08:42 am] Mitch K: Mitch King: continue
monitoring DOV for 2nd helping short
[08:45 am] Kris : Kris : YOKU setting up for
a long soon
[08:48 am] Mitch K: Mitch King: YOKU acting
like a dog, sleeping dog
[08:58 am] Mitch K: Mitch King: watching VRSN
for 2nd helping short soon
[09:04 am] Kris : Kris : I have to run a
couple errands, be back in 30
[09:07 am] Brent : Brent : 21.45 would be
next target on YOKU sonorant, I’d reduce some
here though
[09:16 am] Mitch K: Mitch King: getting sell
signal on VRSN
[09:20 am] Brent : Brent : SPY testing
hod[09:27 am] Mitch K: Mitch King: stronger
sell signal on VRSN now
[09:28 am] Brent : Brent : looking for YOKU
to make higher highs on this push
[09:31 am] Mitch K: Mitch King: monitor CBG
for potential short if it goes up enough
[10:42 am] Kris : Kris : no, I’m flat
[10:46 am] Mitch K: Mitch King: missed the
PANL short, was looking right at it.
[10:47 am] Mitch K: Mitch King: looking at
TNA drop here for potential long, may take a
while
[11:07 am] Mitch K: Mitch King: ok getting
sell signal on TNA
[11:08 am] Mitch K: Mitch King: it isn’t a
clean transition from TNA to TZA. what you
do is close the TNA and watch to see if TZA
ready to buy, not perfect to switch right
then as a “reverse”
[11:09 am] Mitch K: Mitch King: ok, when i
say that, those comments like “may take a
while” …… those are hunches that
shouldn’t be heavily weighted as much as the
chart itself.
[11:10 am] Mitch K: Mitch King: as you know,
things change quickly and new information
makes a comment like that obsolete
[11:14 am] Mitch K: Mitch King: I wouldn’t be
trying to trade the TZA etf today, the
indexes are trending up, may last for 2 more
up days
[11:15 am] Mitch K: Mitch King: let’s look at
TNA on daily now
[11:17 am] Mitch K: Mitch King: first of all,
you had yesterday hit a bottom and close
toward the end and as i recall, late in the
session, like within the last hour yesterday,
someone asked me if I liked TNA as a long
swing overnight.
[11:19 am] Mitch K: Mitch King: i mentioned
TNA or UPRO is a decent swing trade entry.
Now that it has moved up so strongly,
actually gapped up this morning, it should
have more leftover on the upside BUT remember
we have a lot of crazy news and volatility so
it could easily gap down tomorrow morning as
well.
[11:22 am] Mitch K: Mitch King: what I try to
do is manage the news, plus the technical
indicators together because the tremendous
volatility and sensitivity to news is so
powerful right now. When you get a low
volatility reading, which is usually created
after an extended period of time of “lower
stress” market environment or a gradual
steady bull run, the market tends to be more
immune to news. People are happy, stocks
have been going up, profits are built into
the price of stocks so people don’t worry.
[11:23 am] Mitch K: Mitch King: i think the
indexes have a fairly good chance of
approaching the recent high last week around
$50 on TNA and possibly higher. but as you
know, the odds start shifting toward 50-50 as
the prices of stocks go up, in this case TNA
or UPRO, or TQQQ
[11:25 am] Mitch K: Mitch King: the comment
that garb made 10 minutes ago about hope
there is no crazy Europe news is exactly
right. I still think there is going to be a
real shakeout in Europe’s financial sector
the same way we had ours 4th quarter 2008 and
that will drive our stock prices down as
well.
[11:29 am] Mitch K: Mitch King: a thought i
have been voicing out loud lately, in the
last week or so is that people who want to
make really good money in the market better
learn to day trade real well because the
longer term trades are going to get real hurt
if Europe goes through what i think they
will. Going to be a real shakeout.
Something has to give. the Greece situation
is just being delayed, and other countries.
So a panic seems like it has to happen
[11:30 am] Mitch K: Mitch King: what is the
percentage of banks not making the minimum
reserve requirements in EUrope? it is a huge
number. Look at what Soros said this last
few days and many other very smart guys.
[11:31 am] Mitch K: Mitch King: Now I am not
trying to scare you guys, or be an alarmist
but I am saying to be prepared, get really
good at this because the only guys who are
going to consistently make money are the
proficient day traders
[11:32 am] Mitch K: Mitch King: during that
time of turmoil
[11:35 am] Mitch K: Mitch King: just try to
control your greed glands, we all have
them
[11:36 am] Mitch K: Mitch King: i am
constantly changing my charts around, i keep
looking for a simpler chart i can size up a
stock quickly. its quicker to look at dozens
of charts a day, especially during the crunch
time of first 90 minutes
[11:37 am] Mitch K: Mitch King: yes, I’m
going to go over my chart setups in both day
trading and swing trading charts
[11:44 am] Kris : Kris : looking for another
new high in TNA
[12:15 pm] Mitch K: Mitch King: consider
closing WLT
[12:15 pm] Mitch K: Mitch King: i don’t see a
sell signal yet in WLT
[12:15 pm] Mitch K: Mitch King: let me switch
to a 2 min
[12:15 pm] Mitch K: Mitch King: ok, here we
go, consider closing
[12:15 pm] Mitch K: Mitch King: that’s the 30
second chart so you don’t use those,
[12:16 pm] Mitch K: Mitch King: might get a
little breath up to fill long position in WLT
but best practice is to be gone now, even
though consolidating behavior now
[12:18 pm] Mitch K: Mitch King: thanks for
WLT rusty
[01:00 pm] Brent : Brent : have a great night
everyone, see you in the morning
[01:00 pm] Kris : Kris : Great job today
everyone. Have a good night and I’ll see you
guys back here tomorrow.
[01:00 pm] Mitch K: Mitch King: bye guys
|
[06:09 am] mikewd2 -: silver down 1.15
[06:13 am] joeytsa : gap up :
AMZN,AAPL,NFLX,ANF,SINA,AMAG,FOSL,FSLR
[06:13 am] joeytsa : gap down:
GOLD,URBN,SSRI
[06:15 am] joeytsa : more gap ups:
SOHU,CAT,WLT
[06:17 am] rd : WLT takeover speculation. Up
21 percent
[06:19 am] mikewd2 -: is the bid for WLT,
$120?
[06:20 am] truck : I see 91.20,,,WLT
,,bid
[06:20 am] lightning : mike, not yet: Anglo
American weighing $120 a share offer for
Walter Energy, This is Money says Anglo
American (AAUKY) is considering an offer of
$120 a share for Walter Energy (WLT), which
BHP Billiton may also be looking to acquire,
reported This is Money, citing a report from
the Times’ market report.
[06:28 am] junior : EAT gapping down
[06:33 am] junior : NAV
[06:34 am] joeytsa : out WLT s +1
[06:36 am] joeytsa : SINA looks good
[06:39 am] joeytsa : FOSL finally turning
over
[06:41 am] joeytsa : out FOSL short
[06:42 am] joeytsa : ANR hod[06:44 am]
junior : out half URBN long
[06:44 am] joeytsa : nice junior…i had
URGn on my list, and lost track of it
arrrggg [06:43 am] joeytsa : great trade
Kris on SINA
[06:45 am] eyes-inthenow : Mitch please
explain the 5 just crossed the 20 on
regn[06:47 am] lightning : S NVDA 14.51
[06:47 am] derns : WLT
[06:47 am] derns : Watching VRSN
[06:47 am] anthonyb : PAY
[06:48 am] swingtrader : watch MELA ..
[06:49 am] swingtrader : in AOL
[06:49 am] joeytsa : trailing stop hit on
TNA +.20
[06:50 am] anthonyb : lqdt[06:51 am]
lightning : covering a little NVDA at
14.43
[06:51 am] joeytsa : URBN was a great gap
down fade, missed it though
[06:52 am] swingtrader : took NAV at
38.54
[06:52 am] mikewd2 -: good call Mitch, missed
NAV
[06:52 am] lightning : out more NVDA
14.36
[06:54 am] rusty : WLT radar
[06:54 am] lightning : short 1/2 X 28.94
[06:52 am] lightning : still 1/2 position
NVDA short
[06:56 am] lightning : late to post, cover
another 1/4 NVDA at 14.21
[06:57 am] swingtrader : can you post DVN
mitch[06:57 am] joeytsa : FOSL diving
again
[06:58 am] rusty : analyst $14 target on
MELA
[06:58 am] joeytsa : FOSL chart a
beauty..lower highs
[06:59 am] joeytsa : keeping a very tight
stop on DVN
[07:00 am] joeytsa : i’m short DVN at 65.60,
only risking 15cents/$150
[07:05 am] observer : SINA
[07:05 am] mbear : NAV and SINA
[07:05 am] lightning : stopped out X short.
Next
[07:06 am] rusty : JVA radar
[07:07 am] rusty : watching for another
swingtrade short
[07:07 am] joeytsa : DVN finally moving
down
[07:07 am] anthonyb : I am definitely in the
“zone” this morning
[07:08 am] rusty : BKX hod[07:08 am]
lightning : covered more NVDA at 14.06.
Only a tiny bit left now
[07:09 am] joeytsa : moving DVN stop to even
[07:09 am] apple : TNA hod[07:13 am] mhaus
: WLT Turning soon?
[07:13 am] joeytsa : moving DVN stop to a
5cent profit
[07:14 am] lightning : out rest of NVDA
short.
[07:14 am] lightning : Mitch, you just need
another computer [07:14 am] joeytsa :
haha..just closed DVN..made a whole $50,
better than nothing
[07:15 am] rusty : little above midpoint of
trading range again
[07:15 am] Mitch K: no lightning, there are 7
computers and 15 screens in here
[07:16 am] swingtrader : is NEE long or
short
[07:16 am] Kris : and some sun block
[07:16 am] garyb : Wow Mitch…I hope you
have a solid air conditioning unit! lol[07:17
am] derns : Kris…are you in WLT long?
And, will you be looking to exit, possibly
short around the 98 resistance you
mentioned?
[07:19 am] rusty : PLCM radar
[07:19 am] apple : MK I was having problems
with etrade pro today as well
[07:21 am] mhaus : PETD short?
[07:21 am] joeytsa : prefect advice Kris in
your 7:18 post
[07:23 am] rusty : PETD 24M os[07:24 am]
swingtrader : wprt in 24.36 short
[07:24 am] rusty : PLCM hod[07:26 am] Kris :
The one bad thing about living in san diego
is you can never complain about the weather
cause nobody gives a damn
[07:27 am] rusty : LBAS radar penny stock
swingtrade short
[07:27 am] Kris : we’ve had 2 of the most
humid days I can ever remember
[07:27 am] Kris : feels like an episode of
swamp people
[07:28 am] randall : amazing from San Diego!
That must be a shock Kris!
[07:28 am] neuronx : LNKD resistance 85.21
bounced
[07:28 am] joeytsa : thanks Gary..just has
to stay sound, might have a decent career
[07:29 am] Kris : first time I’ve had to wear
a headband while trading
[07:30 am] swingtrader : Kris are you still
in VIP
[07:33 am] anthonyb : Mitch, If it’s not too
busy, can you show me the buy signal on VRSN
when it comes?
[07:34 am] truck : out half VRSN,,,,34.50
[07:34 am] truck : 33.50,,sorry
[07:36 am] truck : out VRSN
[07:36 am] rusty : PLCM nhod[07:36 am]
mikewd2 -: vrsn getting buy, yes?
[07:36 am] garyb : TNA is turning over on
the 5 minute
[07:38 am] swingtrader : out all my WPRT
awesome call Brent
[07:39 am] swingtrader : hey Kris are you in
VIP
[07:39 am] sonorant : Wow, Mitch, way up
there?
[07:39 am] Kris : no, I’m out VIP
[07:39 am] Kris : nice one bertie boy
WPRT
[07:40 am] swingtrader : short
[07:40 am] Kris : what’s your entry
swingtrader who scalps?
[07:40 am] swingtrader : 10.55
[07:41 am] Kris : stop over 10.72
[07:41 am] Kris : good position size
[07:41 am] Kris : full position?
[07:41 am] Kris : and leave it
[07:41 am] swingtrader : no 1/4 very
small
[07:43 am] Kris : Itacher is here?
[07:43 am] Kris : I miss that guy
[07:43 am] anthonyb : Itacher, who is your
broker?
[07:44 am] swingtrader : suprice
..kris[07:44 am] Kris : yes Itacher,
suprice!!!!
[07:45 am] swingtrader : anthonyb trade
station ..
[07:49 am] anthonyb : LMAO
[07:50 am] rusty : EMBA another penny stock
radar…not shorting this one yet tho[07:50
am] anthonyb : Mitch, would you still be in
GOLD short here and look to add? or stop
out
[07:51 am] sonorant : Mitch, guidance on
gold?
[07:54 am] swingtrader : kris is XLNX price
target big guy ..lol[07:56 am] rusty : WPRT
halt
[07:56 am] mikewd2 -: AMED a runner today
[07:56 am] lightning : CLNE spiking
[08:05 am] sonorant : Mitch, I am in VRSN,
will wait
[08:05 am] rusty : BOVE–BAC should be over
10 in 3 months
[08:06 am] mikewd2 -: is that after the
reverse split?
[08:06 am] derns : Still short VRSN as
well.
[08:07 am] lightning : mike, i think it’s
missing a decimal point.
[08:08 am] truck : a lot of vol, last three
mins,,,VRSN
[08:09 am] rusty : PETD hod[08:11 am]
joeytsa : reminder : if you trade the ES or
YM, tomorrow is contract rollover so you will
want to be trading the December 2011
contract
[08:16 am] Mitch K: anthonyb, when you short
something like GOLD, you set a stop loss just
above the previous high, let me show you
[08:18 am] sonorant : Thanks Mitch, makes
sense.
[08:18 am] Mitch K: you do this for several
reasons anthonyb, a stop is automatic and no
decisions have to be made, its a better price
than you could manually react and then enter
order. and it allows you to move to another
stock idea(s)
[08:18 am] anthonyb : ok, Mitch, like LVS
for instance, I am short at 47.49. Stop is
right above the 11.12 bar at 47.59
[08:20 am] rusty : tx for AMED alert Mike
[08:21 am] mikewd2 -: i got tired of waiting
on it, dang – nice rusty
[08:23 am] anthonyb : take care everyone, I
have to leave. Have a great day all, and
thanks Mitch, for the lesson with VRSN and
GOLD
[08:33 am] swingtrader : URI got it at 17.54
[08:30 am] mikewd2 -: APA well on its way to
100
[08:34 am] junior : cover 1/3 DOV here
[08:35 am] eyes-inthenow : S URI 17.55
[08:36 am] qwert : dov short at 53.50
[08:36 am] junior : yes mitch…short at
53.50…thnk you
[08:36 am] eyes-inthenow : OUt URI .37
[08:36 am] swingtrader : coverded 1/4 17.
[08:38 am] swingtrader : uri out 17.29
1/4
[08:41 am] swingtrader : covering all URI
[08:41 am] eyes-inthenow : what you were
looking at
[08:41 am] eyes-inthenow : Mitch were was
your head fake in URi please show me
[08:42 am] monster : yoku?
[08:42 am] scalpman : Out 3/4 MCP
[08:42 am] swingtrader : 17.12
[08:43 am] swingtrader : nice Call Mitch
thank you
[08:43 am] rusty : FDO radar
[08:44 am] storage : thanks Mitch for uri
covered a little early but learning
[08:44 am] scalpman : All out MCP S
[08:46 am] apple : thx MK, K, B and
everyone. Gotta go take my son to the museum
– last day before school starts. Everyone
have a profitable day!!!
[08:47 am] Kris : enjoy your time with your
son pat
[08:47 am] junior : stopped out DOV…small
profit, thanks Mitch
[08:49 am] sonorant : Mitch, back at 8:37,
you were saying “see increasing vol each bar
on 1 min chart and decreasing vol”…. What
about the decreasing vol where?
[08:49 am] mikewd2 -: l 20.95
[08:50 am] michael : Sonorant I think he
meant decreasing price
[08:51 am] sonorant : yes, well that would
make sense. Thanks.
[08:52 am] michael : increasing vol,
decreasing price. probably just typing too
fast
[08:52 am] cowboyh : By all good luck off to
work will watch from there
[08:57 am] lightning : there goes DOV
[09:04 am] rosmag : yoku[09:04 am] lightning
: YOKU finally out of it’s holding
pattern.
[09:05 am] sonorant : target on Yoku?
[09:05 am] lightning : out 1/4 YOKU long
[09:07 am] sonorant : Thanks Brent, already
took 1/2
[09:09 am] swingtrader : I am in DOV Short
at 53.31
[09:15 am] swingtrader : watching VRSN
[09:15 am] derns : VRSN has been strong for
the past hour.
[09:17 am] Mitch K: yes VRSN has been very
strong last hour derns[09:18 am] Mitch K:
it’s a little dangerous to get in front of
VRSN on the short side, need stronger sell
signal than what i posted
[09:19 am] sonorant : Mitch, what was the
“almost” sell signal on VRSN?
[09:19 am] derns : VRSN was easier to play
yesterday…today is tough (for me)
[09:22 am] sonorant : Any guidance on
REGN?
[09:23 am] sonorant : no
[09:23 am] Brent : you have a position on
REGN sonorant?
[09:24 am] swingtrader : I am watching TIN
and VRSN long position but with much is
difficult to trade for a day or two
[09:24 am] sonorant : Why is VRSN a more
likely short than REGN?
[09:24 am] sonorant : I just keep watching
it
[09:24 am] Brent : I don’t see a setup that I
would take in REGN sonorant
[09:25 am] swingtrader : I think sonorant
they were talking about REGN on CNBC last
night !!
[09:26 am] swingtrader : I think was Jim
Cramer .. I am not sure ..[09:27 am] sonorant
: I utterly believe you, but I am not sure
why that is the case….
[09:32 am] swingtrader : in VRSN short at
34.40
[09:32 am] derns : Mitch..I know it’s still
a bit early in the day (and I read your
comments yesterday about swing trades), but
what do you think of a continued swing on
TNA? I bot yesterday.
[09:35 am] sonorant : Targets on VRSN?
[09:36 am] swingtrader : my target sonorat
is 34.62 and my stop is 36.63 ..is that Good
Mitch
[09:38 am] mikewd2 -: i’m looking for
33.78-33.80
[09:39 am] swingtrader : sororat I am
risking 20c to gain 60C + let’s see Mitch
view
[09:39 am] sonorant : Thanks mike and
It/ST
[09:39 am] sonorant : Itacher, that is about
where my stop was, but I’ve moved it down.
[09:41 am] sonorant : Mike –even meaning
???
[09:41 am] sonorant : I don’t know, if it
head up that much from here, isn’t it over?
My stop is now at 34.45
[09:41 am] sonorant : 34.48
[09:41 am] mikewd2 -: my stop is set for even
now
[09:41 am] mikewd2 -: 34.42
[09:41 am] Brent : what is your entry
sonorant on VRSN?
[09:42 am] vision : Mich target for VRSN?
thanks
[09:42 am] sonorant : I had 200 shares and
took 1/2 out at 34.30
[09:42 am] mikewd2 -: yes
[09:42 am] Brent : full position?
[09:43 am] Brent : on VRSN
[09:43 am] Brent : If I was in this trade, I
would take half here. Stop set at your
entry, next target 34.10 area
[09:44 am] vision : thanks Brent
[09:44 am] sonorant : Okay, thanks Brent
[09:44 am] mikewd2 -: done
[09:45 am] sonorant : Why 34.10?
[09:47 am] sonorant : So SPY holding up
makes you suspect that it may not go as low
as it would have gone otherwise?
[09:47 am] Brent : previous consolidation
area between 34.00 and 34.10 on VRSN.
Normally I would be 34.03 area, but SPY is
still holding up
[09:48 am] Brent : it’s just fighting the
trend, so I am usually a little more tight on
my targets that’s all. But the SPY is
starting to come down now
[09:49 am] swingtrader : Mitch what is the
target on CBG short ? thanks
[09:56 am] rusty : SODA lod[09:57 am]
swingtrader : I am not stop out yet on
VRSN
[09:57 am] mikewd2 -: last half
[09:57 am] mikewd2 -: i moved mine down and
was stopped .27
[09:59 am] rusty : WLT radar
[10:01 am] swingtrader : good move mike .. I
am going to let it ride little more is making
the W pattern one more leg down ..I hope
[10:07 am] swingtrader : Thank you Mitch for
the call and mike
[10:13 am] sonorant : Second helping now?
or more highs?
[10:13 am] sonorant : I got stopped out on
last 1/2 VRSN just before break even —
didn’t move stop down.
[10:15 am] sonorant : Interesting.
[10:15 am] mikewd2 -: when in doubt, stay
away
[10:15 am] Brent : personally I would pass on
VRSN sonorant. I wouldn’t stick my hand in
the cookie jar again
[10:16 am] mikewd2 -: WLT l 92.85
[10:17 am] swingtrader : sonorant watch the
resistance at 34.68 see if goes above that
and look at the stochastic that mean is
topping or leveling ..my opinion I like to
discuss it to practice ..
[10:17 am] mikewd2 -: VRSN hod[10:21 am]
junior : PANL alert
[10:24 am] rusty : PANL radar
[10:27 am] swingtrader : sonorant now the
Stochastic turning little down at 92.77
[10:30 am] swingtrader : anybody shorted
PANL
[10:30 am] candelas : me mee[10:31 am]
swingtrader : nice move candelas
[10:31 am] qwert : panl moved so slow i
thought it was legit rumor
[10:31 am] candelas : lol[10:31 am] Brent :
there’s the silent assassin
[10:33 am] sonorant : missed PANL — had to
step away
[10:35 am] swingtrader :
http://finviz.com/quote.ashx?t=panl&a
mp
[10:35 am] junior : ya ya candelas
[10:35 am] candelas : tank u rusty/Junior
[10:36 am] jolliffboy : Hey Mitch, Brent,
Kris….any updated feelings on yuko. Looks
like it’s starting to move up. I’m in at
21.00.
[10:37 am] mabdeen7 : yoku making a move
[10:38 am] Kris : yoku breaking out of a 90
minute consolidation area
[10:38 am] Kris : next resistance around
21.78
[10:41 am] observer : ditto, Kris, L21.53
[10:42 am] swingtrader : Kris are you in TNA
?
[10:44 am] swingtrader : I getting two
alerts on TBT RLI
[10:46 am] lightning : Watching PAY for
possible long
[10:47 am] swingtrader : i would love to
take TNA mitch[10:48 am] derns :
VRSN…someone must think this is a real
potential acquisition.
[10:49 am] junior : FSLR
[10:51 am] mary : i would a pysch evil
before I take tna to crazy
[10:53 am] lightning : nice bounce on PAY.
I didn’t take it…I wanted it to get to
35.
[10:54 am] candelas : tanks Junior fer
fslr[10:57 am] Mitch K: you still long YOKU
jollif? looks trending up, slow mover
[11:00 am] Mitch K: you guys get that TNA
bounce?
[11:01 am] Mitch K: i gave that to you guys
on a silver platter…. what do you want
more, me to trade for you? lol[11:01 am]
Kris : yes
[11:01 am] Kris : thanks mitch[11:01 am] Kris
: drop in the bucket
[11:01 am] candelas : yes sir
[11:02 am] sonorant : so did I, my eyes were
elsewhere at that time.
[11:02 am] Mitch K: swinger, you were read
for TNA 15 min ago bad boy
[11:02 am] mikewd2 -: yeah, that would work
Mitch – i’ll email you my acct number
[11:02 am] mikewd2 -: lol[11:03 am] Mitch K:
hey sonorant, no porno
[11:03 am] mikewd2 -: too focus on my other
trades
[11:03 am] lightning : Mitch, at what minute
bar would have been the buy on TNA?
[11:04 am] mikewd2 -: rough day, up 6 down
3
[11:05 am] sonorant : That’s the response I
should have given mike!
[11:05 am] sonorant : And I have spent too
much of my day shorting on a day that is
LONG
[11:05 am] mikewd2 -: WLT l 90.06 – try it
again
[11:06 am] Mitch K: lightning, right here is
the first buy signal on a 1 min chart on TNA
at 10:47am pacific time
[11:06 am] mikewd2 -: my problem 2 of 3 loses
were shorts
[11:07 am] sonorant : Mitch, what makes it a
buy signal?
[11:07 am] lightning : OK, thanks. I guess
I was scared off by the “may take a while”
comment you at 10:47
[11:10 am] lightning : I understand…I know
I missed it, not you.
[11:12 am] swingtrader : watching TZA in my
screen and TNA in your screen
[11:12 am] sonorant : So Mitch, is it the
upward price plus the crossing of the
stochastics?
[11:13 am] Mitch K: yes sonorant, plus you
got a moving average change there on the 1
min
[11:14 am] sonorant : Yes, I see that on the
5 SMA — it head up, yes?
[11:14 am] mikewd2 -: Mitch, you still use
the Williams %R
[11:14 am] garyb : Thanks Mitch…I may hold
my TNA for a day more or so….hoping there
is no crazy europe news!
[11:14 am] derns : Mitch..so, you would
consider a swing on TNA? I am already long
from yesterday
[11:15 am] swingtrader : I figure all my
signals in MACD Scho and TRIX volume are all
pointing down in TZA very strange
[11:15 am] joeytsa : on that TNA chart, the
macd histogram was heading up also
[11:15 am] garyb : okay
[11:15 am] garyb : me too derns[11:16 am]
sonorant : Okay, good advice on TZA
Thanks.
[11:16 am] mikewd2 -: Mitch, you still use
the Williams %R
[11:17 am] joeytsa : yeah i see that, even a
late entry between 44.20-30 still looked
good
[11:18 am] mikewd2 -: and OBV as your
indicators
[11:19 am] swingtrader : I was looking at it
for the past 120 day s from up 90’s to the
40’s but ..
[11:19 am] mikewd2 -: WLT coming back
[11:20 am] swingtrader : that is the problem
I am having this gap up and down is driving
crazy
[11:20 am] joeytsa : mike : %r had turned up
then also, but i don’t use it really
[11:20 am] eyes-inthenow : If I remember
right you said you would not swing it
[11:21 am] sonorant : what is OBV?
[11:21 am] mikewd2 -: just curious if that is
still the case
[11:21 am] mikewd2 -: i studied the Wizard
Course this weekend and that is what Mitch
taught, use Stochastic, OBV and %R
[11:21 am] joeytsa : obv= on balance
volume
[11:21 am] joeytsa : i love the gapping
action for trading
[11:22 am] joeytsa : i don’t see them on
Mitch’s charts
[11:23 am] mikewd2 -: I’ve been using these
indicators last two days – have worked pretty
well
[11:23 am] joeytsa : if they work for you,
keep using them
[11:24 am] swingtrader : good idea Mitch I
am going to start with UPRO
[11:24 am] mikewd2 -: stopped WLT 91.24
[11:25 am] joeytsa : i agree with you
Mitch
[11:26 am] Mitch K: those are all good
indicators mikewd2
[11:26 am] mikewd2 -: ok, so do you still use
those as per the Wizard Course?
[11:28 am] swingtrader : this chart in TNA
remind me the chart of SLV that huge drop and
then some consolidation and the up we go
..
[11:32 am] sonorant : Mitch, won’t people
buy gold?
[11:32 am] sonorant : And most of us know
how steep the learning curve is! At least I
do.
[11:32 am] joeytsa : the guys who know how
to short/buy puts are going to make some
cash
[11:32 am] garyb : Thank you very much Mitch
for the analysis…I appreciate it as I hold
a ton of TNA
[11:32 am] garyb : (and doing well at this
point I may add)
[11:33 am] sonorant : Mike, it is when you
have several weeks of winning days.
[11:33 am] Mitch K: garyb, I wouldn’t hold a
ton of anything, if you are leveraged like
that, shows me you are impatient and just try
to be steady and patient. i know easier said
than done but that’s how you make the most
money with least stress
[11:33 am] mikewd2 -: i haven’t received my
“proficient day trader” certificate from you
Mitch, can you send me another copy.
[11:34 am] swingtrader : what are they
trying to do by gapping down or up .. why
[11:34 am] Mitch K: garyb, remember TNA is a
3 to 1 leveraged ETF as it is and if you hold
a ton of it, lets say your whole account,
plus even margin, you could be the equivalent
of 6 to 1 leverage. if you are going to do
that, use a defined amount of money in a long
call option but that’s too late now
[11:35 am] mhaus : Mitch, when I see the
settings for the indicators in your cart
window they are different from what you show
in the DVDs
[11:35 am] mhaus : *chart window*
[11:35 am] eyes-inthenow : Don’t do what I
did Longed TNA 300 shares 44 got out 38 all
my profit of 2 weeks gone
[11:36 am] swingtrader : got upro 54.60
1/4
[11:37 am] mikewd2 -: Will you be going over
your current setup in the Webinar?
[11:37 am] mikewd2 -: hoping Obama speech
causes silver to fall again!
[11:37 am] mhaus : I use SMA5 over SMA15
signal to buy, and my Stochastic Slow
settings are K14,D7. Are these the right
settings to use?
[11:38 am] Mitch K: at least 90 days
lightning
[11:38 am] mikewd2 -: thanks, Mitch – looking
forward to it
[11:38 am] mikewd2 -: mhaus, if i wait on
SMA5 over SMA15, I tend to miss the early
part of a breakout.
[11:38 am] lightning : On the webinars, if I
am going to miss one of them, how long before
it is available to view?
[11:38 am] lightning : not very good
[11:39 am] swingtrader : Upro hitting 55
nice mitch you are numero uno I will join the
seminar I am just waiting couple checks to
clear
[11:39 am] sonorant : That is great
information — thanks
[11:39 am] sonorant : But surely looking at
the trend is useful?
[11:39 am] Mitch K: mike, the crossover of
the 5 going over the 15 sma is too late, you
miss out on a lot of profit, probably 30% of
potential profit is gone
[11:39 am] Mitch K: i mean as day trading
goes. that can work on a longer term daily
chart for hold times of 2-6 months
[11:39 am] mikewd2 -: right, that was my
point to mhaus[11:39 am] mhaus : true, but
that is what I learnt from the DVDs
[11:39 am] mhaus : Mitch, that is where I
hurt.
[11:41 am] sonorant : Mitch, what about gold
as a safe haven for those who can’t day
trade? What is your opinion on that?
[11:41 am] Mitch K: These are all great
questions and I’m going to start from
beginning in a more cohesive manner on Sept
22nd on day the way I approach day trading
and swing trading
[11:41 am] joeytsa : can’t wait
[11:42 am] mhaus : Thanks. look forward to
that. I need to understand those setups so I
can make the most profit from a trade.
[11:42 am] joeytsa : you can always get a
half position on the hook, and the other half
on the 5/15 cross too
[11:43 am] swingtrader : I liked Brent and
Kris strategies sell half and sell half at
profit or at stop very good advise very
smart
[11:43 am] joeytsa : just something to think
about, and it might work both
day/long-term
[11:44 am] Mitch K: sonorant, your question
on gold, I’m not comfortable buying 1 ounce
of anything for about $1900. I do understand
why its going up but I just can’t think long
term. I’m not a great investor, I’m really a
trader, strategist
[11:44 am] mhaus : but in Ninja trader, I
can setup auto trade and those don’t generate
all profits if I use the 5/15 cross over
signals
[11:45 am] Mitch K: ok, you guys or girls who
have the index ETFS long now, like TNA, UPRO,
TQQQ, DDM…….. you see how we gapped up
today on this TNA?
[11:46 am] swingtrader : I love to learn to
trade like all of you ..you guys are
fantastic ..
[11:46 am] sonorant : Well, you have a point
about an ounce of anything for $1900.
Sooner or later there is bound to be a gold
bubble.
[11:47 am] swingtrader : I am up already in
UPRO incredible
[11:47 am] sonorant : Yes, see the gap
up.
[11:47 am] shark : GM radar
[11:47 am] Mitch K: garyb, this is important
for you, esp since you are 6 to 1 in your
account on this.
[11:48 am] swingtrader : Mitch is UPRO 6 to
one also ?
[11:48 am] ghaziar : M.K.– Reference
webinar: is it possible to purchase the CDs
for the event. Iis definitely more convenient
than watching videos in the archive.
[11:49 am] Mitch K: no, UPRO is 2 to 1, TNA
is 3 to 1, Garb=yB said he has a ton of TNA
so i was joking that he may be actually 6 to
1 in his account., very high risk for him
[11:50 am] Mitch K: so back to that gap up.
tomorrow it should be less of a gap IF ANY.
only reason why we would have another gap up
tomorrow is if great economic news comes out
before the market tomorrow on jobless
claims
[11:52 am] vans : 200 cmg tied up, now im
nervous to keep next few days
[11:52 am] Mitch K: or something out of
Europe, which will be short lived good news
for them. but through time, only another day
or maybe two, the gaps won’t occur right?
and my point is for you guys holding these
leveraged ETFs is that you will get better
prices the next day at lower prices.
meaning, you should be able to sell toward a
high either today or tomorrow and get a lower
price to buy if you wanted or insisted on
being long
[11:52 am] Mitch K: let me draw something
[11:52 am] eyes-inthenow : Mitch do you have
any recommendations as to how I can Start
Over as you can see I am not doing well
[11:53 am] qwert : yep
[11:53 am] Mitch K: there’s a gap there
right?
[11:53 am] Mitch K: see next day after
that?
[11:53 am] mikewd2 -: yep
[11:54 am] sonorant : what next day after
that?
[11:54 am] sonorant : Mitch, can you make
that part of the picture larger?
[11:54 am] qwert : yep
[11:54 am] Mitch K: so it dropped from, let’s
see
[11:54 am] Mitch K: see?
[11:54 am] Mitch K: no gap AND it dropped
down quite a bit right…. see the black wick
on the lower part of the candle
[11:54 am] mikewd2 -: yes,
[11:54 am] mikewd2 -: eyes – what platform
are you trading on?
[11:55 am] Mitch K: i don’t think a bigger
picture can be drawn
[11:55 am] Mitch K: 48,62 high on 8-29-2011
to around 46.10 next day,
[11:56 am] swingtrader : mitch i loved the
trade we did today with VRSN sell the top and
buy the bottom I perceived it so well I hope
you can bring more ideas like I am sure some
traders profit from it ..just one example but
VRSN was a great one
[11:56 am] sonorant : okay, thanks, will
look on my own charts
[11:56 am] mikewd2 -: use the fit/no fit to
make it bigger in the window – or go full
screen
[11:57 am] Mitch K: i don’t know how, i see a
zoom sonorant
[11:57 am] lightning : Mitch, select Zoom,
and then just click over the area to zoom
[11:58 am] Mitch K: but my point is that you
have to manage your risk and try to hang on
to the most profits as possible and the way
you do that, especially if you are leveraged
like garyb is now, is to gradually sell off
at key points,
[11:58 am] lightning : don’t drag, just
click the specific point.
[11:58 am] eyes-inthenow : lightspeed[11:59
am] rd : MK make the box and then just click
on it
[11:59 am] Mitch K: so here is the current
UPRO 2 min chart, toward top of chart right
now, meaning, high price of day so far
[12:59 pm] candelas : think i was plus 7.89
on long/short thanks Rusty
[12:00 pm] rd : undo by clicking on Zoom out
on the line tools
[12:00 pm] Mitch K: ok, I’ll practice that
later, thanks rd[12:01 pm] Mitch K: my main
point to all this is as a stock moves up like
these index ETFs, they will stop gapping up
and then start gapping down and you lose
money by holding overnight so you have to
gradually sell.
[12:01 pm] Mitch K: if i were heavy in a
stock, which i don’t do now but I’ve had my
bouts of the greed gland controlling me.
remember the 2.1 mil shares i held of a
stock? was in the late 90s, probably 99
[12:01 pm] mikewd2 -: ok eyes so a good
platform, have you gone thru the Wizard
Course? I did this weekend and it has made a
big difference in the way I see the
trades.
[12:01 pm] mikewd2 -: also putting in proper
stops has help my loses and remove all the
head fake loses i use to take.
[12:02 pm] Mitch K: you still will lose some
of those profits, yes your stops get
triggered but you gave up money
[12:02 pm] Mitch K: stops won’t help
overnight positions that gap down premarket
next day mike
[12:02 pm] Mitch K: hang on guys, let me
finish this
[12:02 pm] mikewd2 -: you have to call in and
get them to send them via mail. If your
subscribe to DSR i think.
[12:02 pm] mikewd2 -: just had to pay
mail.
[12:03 pm] mikewd2 -: eyes is your issue day
or swing trades?
[12:03 pm] lightning : WLT wilting
[12:04 pm] rusty : WLT denies rumors
[12:04 pm] rd : somebody wanted out pretty
bad, $5 gap
[12:04 pm] Mitch K: so each one of those
wicks represents to me that TNA was dropping
in the morning and moving up later, like the
Nike swoosh. eventually a stock turns over
but you had a warning for a day or two on
that example i drew. anyhow, gradually sell
out of a long position you are over weighted
in. its good practices trading
[12:05 pm] swingtrader : Good night all
taking my little girl to Vale classes
[12:05 pm] Mitch K: and if you want to be a
real pro at this, you can’t be saying some
sort of thoughts like, “well darn, i could
have made another 1200 or 2500 if i held
overnight” that is loser thinking
[12:06 pm] swingtrader : Brent Kris Mitch
thank you gain i had a lot of fun today
[12:06 pm] Mitch K: thanks rusty
[12:06 pm] Mitch K: hope that helps
[12:06 pm] Brent : take care Itacher[12:07
pm] swingtrader : you guys are the master of
this is incredible
[12:07 pm] rusty : Paulson’s Advantage Plus
Fund Said to Lose 34% This Year
[12:07 pm] rusty : no Advantage there
[12:07 pm] lightning : Could have been
-35%
[12:09 pm] sonorant : Will market tend to
run down in the last hour due to profit
taking?
[12:09 pm] rusty : watching WFM for a
swingtrade again
[12:09 pm] rusty : short
[12:09 pm] Mitch K: hey garyb, i hope you
understand this, i want you to learn how to
manage that kind of risk. mostly not taking
that much on in the first place but since you
have it, what i explained above is how you
handle it now. consider reducing some of
that TNA today in next hour. jobless numbers
are out an hour before market opens
[12:11 pm] rd : MK what interval did you use
to get 30 sec. I tried to set it up yesterday
but could not get the setting interval
correct.
[12:12 pm] rd : thanks i will see if it
works
[12:12 pm] candelas : nicey tanks for WLT
[12:12 pm] Brent : type 30s on esignal
rd[12:13 pm] rd : got it, thanks
[12:14 pm] Mitch K: hold on mhaus, we got to
finish the WLT trade
[12:17 pm] sonorant : Okay, Mitch, so the
sell signal was?
[12:17 pm] sonorant : I think you said no
sell signal on the 12:14:30 bar, but yes on
the 12:16 bar???
[12:17 pm] rusty : PETD hod[12:17 pm]
mikewd2 -: my chart still showing long
[12:21 pm] mikewd2 -: push thru that 90
mark
[12:23 pm] rusty : Despite being up big
today, market volume is still very low
[12:24 pm] rusty : = don’t get greedy
[12:27 pm] mikewd2 -: out half 89.87
[12:28 pm] mikewd2 -: then it pushes thru, my
luck
[12:29 pm] mikewd2 -: Mitch, too much of a
gamble to hold WLT half position until
tomorrow
[12:29 pm] mikewd2 -: in at 86.61
[12:30 pm] sonorant : Mike, wow!
[12:31 pm] mikewd2 -: my have to look at the
profit and sell today
[12:31 pm] mikewd2 -: anyone still in WLT?
[12:33 pm] lightning : I expected WLT to
turn over by now.
[12:33 pm] candelas : 1/4 left
[12:34 pm] mikewd2 -: was on 3min chart
[12:34 pm] mikewd2 -: still looks strong
[12:35 pm] qwert : i think i am finally
getting it just trade the chart dont expect
anything
[12:35 pm] mikewd2 -: that’s exactly what I’m
doing
[12:35 pm] mikewd2 -: i think i get it, but i
do glance to the profits though
[12:36 pm] sonorant : look at TZA/TNA
[12:36 pm] qwert : i don’t look at all, but
can’t help from guessing in my head
[12:36 pm] mikewd2 -: especially on the other
half
[12:37 pm] sonorant : so is the SPY
[12:37 pm] mikewd2 -: russell selling off a
bit
[12:38 pm] mikewd2 -: don’t see SPY selling,
wonder if my chart is froze
[12:39 pm] mikewd2 -: 91.71 next point for
WLT
[12:42 pm] mikewd2 -: 93.02
[12:43 pm] mikewd2 -: nice trade thanks
Rusty
[12:43 pm] mikewd2 -: stopped 92.5
[12:44 pm] mikewd2 -: thanks Brent, you guys
have taught us well
[12:44 pm] Brent : awesome job mikewd2, good
management
[12:47 pm] mikewd2 -: i was going to but
worried it’s too late in day
[12:47 pm] mikewd2 -: good job candelas
[12:47 pm] ghaziar : TSA — is it possible
to get the webinar on CDs?
[12:47 pm] candelas : great trade WLT, I
reversed for short
[12:48 pm] junior : see everyone tomorrow,
thanks TSA and trading room folks and have a
good evening
[12:50 pm] mikewd2 -: stating the obvious, i
wouldn’t short WLT into the night – the 120
offer could come thru
[12:50 pm] garyb : just made a big
move…had TNA at 38…sold now 1/2 position
for 45! chi ching!
[12:51 pm] mikewd2 -: awesome job garyb – did
that on the last run up. Thought the market
would sell off more to reload.
[12:51 pm] garyb : Oh yeh Mike…and like
you I trade BIG lol[12:51 pm] garyb : I’ll
let the other half be my anchor for
tomorrow!
[12:52 pm] mikewd2 -: yeah, i’m all out
[12:52 pm] mikewd2 -: moved a lot of profits
into leaps for the future
[12:52 pm] mikewd2 -: i had 7 on last run
up
[12:52 pm] garyb : awesome….did you
sell?
[12:53 pm] stevemld : WLT nice way to end
the day guys
[12:53 pm] mikewd2 -: just day trade it last
couple days, was scared to go long again
after last run up.
[12:53 pm] mikewd2 -: i sleep better now
[12:53 pm] mikewd2 -: but it’s too nervous
having 40% of your account in one stock
[12:54 pm] garyb : I hear you Mike…..but I
bought in at $36 originally so I keep
some…if the market goes up tomorrow I can
benefit for the dollar cost averaging….if
it goes down I can get out without being
hurt…trying to manage it
[12:55 pm] mikewd2 -: trying not to look back
what could have been. like Mitch said.
[12:55 pm] mikewd2 -: i was going to but
Mitch was telling us that we might see
another downfall, so i feel good about
selling.
[12:56 pm] rusty : thanks and have a good
night everyone
[12:57 pm] lightning : Thanks TSA and
everyone. See you tomorrow
[12:57 pm] garyb : plus Mike when it moves
every cent is a BIG move
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