[06:25 am] Mitch K: Jobless claims dropped a
lot more than expected by 37,000 with 3,000
as expectation. It’s now under 400,000 and
is sort of a psychological level, at least
for Obama, lol[06:28 am] Mitch K: we should
get good movement both ways today but I’m a
little more oriented toward the short side
[06:34 am] Mitch K: probably some negative
news out of NFLX, could be dangerous for a
long scalp,
[06:35 am] Mitch K: watching WYNN for
bottom
[06:37 am] Mitch K: watching for bottom in
SINA for long
[06:38 am] Mitch K: watching EW for bottom,
taking time, big drops
[06:39 am] Mitch K: DVA bottom soon
[06:40 am] Mitch K: watching FMCN for
bottom,
[06:42 am] Mitch K: Life insurance companies
up strong: HIG, LNC, PRU, MET
[06:43 am] Mitch K: monitoring BIDU for
bottom
[06:43 am] Mitch K: no buy signals yet in any
of these dumpers but should give bounces at
some point, let them stop dropping
[06:44 am] Mitch K: monitor LVS along with
WYNN, both casino-hotel
[06:44 am] Mitch K: SINA looks bouncy
[06:45 am] Mitch K: short term signals still
not pointing up on SINA,
[06:46 am] Mitch K: watching WNR
[06:47 am] Mitch K: looking for 124 area on
NFLX
[06:50 am] Mitch K: consider closing most of
FMCN long soon
[06:50 am] Mitch K: looking for 120.50 for
BIDU
[06:51 am] Mitch K: NFLX consolidating,
looking for more upside if continues going
sideways
[06:53 am] Mitch K: EW looks like trending
type of bounce,bounce could last longer
[06:53 am] Mitch K: when you see those big
drops like the $8 that EW dropped, they are
better candidates for uptrending pattern that
last longer on bounce
[06:55 am] Mitch K: the NFLX swing trade long
should be stopped, breaking down below that
125 area
[06:55 am] Mitch K: watching YOKU
[06:56 am] Mitch K: AAPL setting up for
long
[07:00 am] Mitch K: YOKU trying to bounce
[07:01 am] Mitch K: casinos still not
bouncing yet: WYNN LVS
[07:04 am] Mitch K: got early sell signal on
EW
[07:05 am] Mitch K: the trading action on EW
is strong in down market for many stocks.
seeing a lot of large multi-point drops this
morning yet not reflecting in SP500 on
widespread basis.
[07:06 am] Mitch K: the chart pattern on EW
is if it goes sideways with slight pullback
(= consolidation), can easily breakout upward
to higher highs
[07:07 am] Mitch K: we should be getting
close for a bounce with WYNN
[07:11 am] Mitch K: i see more downside on
IVN
[07:12 am] Mitch K: the comment on IVN is
overall, best to look for small bounce first
and if it fails, turns over, would be worth a
small short
[07:17 am] Mitch K: no sign of bounce in DVA
yet, probably won’t be strong if there is a
bounce
[07:18 am] Mitch K: last post was relating to
DVA
[07:18 am] Mitch K: Piper Jaffray believes
uncertainties from the grand jury
investigation in Colorado and Medicare
funding concerns
[07:19 am] Mitch K: grand jury investigation
is associated with criminal charges, not
civil
[07:25 am] Mitch K: CNP spiking
[07:35 am] Mitch K: consider covering short
on CNP if anyone went after that
[07:35 am] Mitch K: DVA on left,. came down
from 69 area to under 60 on grand jury
investigation, probably related to Medicare
billing
[07:38 am] Mitch K: my guess is that DVA
won’t be the normal sharp correction on the
top of this bounce. a lot of brokerage firms
defending the stock reiterating a buy on
weakness kind of recommendation on DVA
[07:39 am] Mitch K: that red line extended
there is what i would expect from this type
of news on DVA, whereas most stocks that have
a bounce you guys see me here day in and day
out correct on top of the bounce but this
came down from 69+ to 59 area
[07:40 am] Mitch K: now what you do with a
chart on DVA is switch to a longer time
interval, don’t stare at 1 min, but bring up
2 or 3 min if you have the room to do that
[07:43 am] Mitch K: anyone go after that
short in IVN? lower lows now. look at the
daily chart, tells me more downside ahead
[07:46 am] Mitch K: there is the sp500 etf at
low of day, finally caught up with our other
stocks we were scanning
[07:48 am] Mitch K: looking for bottom in SPY
for the TNA long trade
[07:49 am] Mitch K: looks like 115 is new
support level for NFLX; this latest change to
split NFLX billing into two companies really
bad idea, people will get confused when they
see their bill and get agitated, spouse will
say cancel, could drop 25% of their
subscribers
[07:50 am] Mitch K: watching CRR
[07:52 am] Mitch K: idcc bouncing
[08:06 am] Mitch K: this chart with BIDU is
more normal, bounce then a shortable
correction
[08:06 am] Mitch K: too late to short at this
price though with BIDU
[08:07 am] Mitch K: another stock you want to
watch consistently is MCP, has a lot of big
swings, both ways
[08:11 am] Mitch K: watch CTRP for short on
top of this bounce
[08:15 am] Mitch K: monitor IVN for short, no
hurry
[08:15 am] Mitch K: take your time on IVN,
could be a while
[08:21 am] Mitch K: you guys see how i switch
back and forth from 1 to 2 min chart? stare
mostly at the 2 min, not 1 min until you
execute trade
[08:25 am] Mitch K: the CTRP short idea i
mentioned, not a great idea with sideways
direction, usually breaks out to the
upside
[08:26 am] Mitch K: you guys following the
stocks discussed this morning? You always
want to continue to monitor what is happening
and the way to best monitor a lot of stocks
is using a longer interval time
[08:27 am] Mitch K: remember that’s what you
get paid for, to keep scanning previous
stocks you saw that were going one direction
in a substantial way (big uptrend or
downtrend) and monitor for that reversal.
Look at WYNN now
[08:28 am] Mitch K: or LVS, IVN, even BIDU
had a $7 bounce
[08:42 am] Mitch K: monitoring SINA
[08:45 am] Mitch K: i wanted to say something
to you about trading. Unfortunately, it
rarely seems to come easy for people to get
to a proficient level. There always a price
to pay. The cheapest price to pay is taking
more time to study and practice in a virtual
trading platform without your real money.
[08:48 am] Mitch K: I see the newer traders
come into trading or investing with
unreasonable expectations. With unrealistic
goals that they feel compelled to accomplish.
You have to boil this down to an education
process that takes time as well as managing
your goals.
[08:50 am] Mitch K: I think people can come
into trading and do well without losing a lot
of money but it is usually from an approach
of a student’s heart, not a mindset that
someone is brave and ready to face the
dragons.
[08:53 am] Mitch K: trvlntrder, i think the
buy on dips of intrraday trending stocks are
easier, higher frequency and lower profit per
trades. works good on certain days. but the
largest profit potential are these reversals
where you can get 2 trades or sometimes 3 on
the same stock, short and then long, for
example.
[08:55 am] Mitch K: i like the reversals
because the largest profit potential is
there. but i see your point trv[08:59 am]
Mitch K: SINA turning over
[09:10 am] Mitch K: AMSC strong trending
stock today. Daily chart supports idea of
more upside to this stock
[09:10 am] Mitch K: trvlntrdr, this is the
kind of stock pattern you were talking about,
right?
[09:12 am] Mitch K: look at the daily chart
on AMSC,
[09:17 am] Mitch K: when i see something like
AMSC daily chart, i see neutral is around
$5
[09:27 am] Mitch K: that’s the buy on the dip
trending chart on AMSC, short term target
would be somewhere around $5, might make it
today.
[09:29 am] Mitch K: AMSC came across my
scanner around $4.10 this morning but forgot
about it until it hit it again. If AMSC
continues upward today, I would NOT hold it
overnight and the $5 neutral price becomes
lower. So bottom line is you sell out of it.
Just because it is trending up is no
guarantee it continues on all day, just
stating the obvious
[09:31 am] Mitch K: could get a bounce in
SPRD, AMSC more interesting to focus on
though
[09:37 am] Mitch K: watching for potential
bottom in AMSC again. each time this
happens, the higher the risk so you don’t go
heavier, you go lighter in position size as
it goes up
[09:41 am] Mitch K: just because there is a
trend line there, you still need to get a
signal it is not an automatic buy on that
trend line, you need confirmation
[10:40 am] Mitch K: look for bounce in
indexes
[10:40 am] Mitch K: should get a bounce
[10:41 am] Mitch K: watching GS for potential
bounce
[10:42 am] Mitch K: monitoring APOL
[10:45 am] Mitch K: increasing volume,
parabolic drop
[10:46 am] Mitch K: TNA bouncing
[10:57 am] Mitch K: anyone long TNA? post
entry
[10:57 am] Mitch K: good entry prices. why
don’t you guys tell me when you should sell
TNA?
[11:02 am] Mitch K: if you microtrade within
a trend, make sure you know where you are
[11:33 am] Mitch K: possible short scalp in
EDU soon
[11:46 am] Mitch K: EDU too strong for
short
[01:00 pm] Mitch K: going to Kris’ wedding
now. Try not to cry all at once
[01:02 pm] Mitch K: later guys
|
[05:58 am] joeytsa : Final GDP price index
q/q up to 2.5% from 2.4, at 7amPST the
pending home sales # comes in..market might
get touchy around then
[06:10 am] mikewd2 -: added to my AGQ
position 109.75 premarket
[06:15 am] joeytsa : hey jr….every time my
technical’s set up, the stock does the
reverse
[06:15 am] joeytsa : HGIC up huge on a
buyout
[06:16 am] doji : Me to Joey…. this market
is just nuts!
[06:17 am] garyb : I know Joey……..I was
actually looking forward to the marketing
backing off a bit for better longs
[06:19 am] mikewd2 -: out 113.65 nice profit
to start the day
[06:20 am] joeytsa : gap up
AGQ,HGIC,SINA,NFLX,CRZO,JOYG…lots of
others
[06:21 am] joeytsa : gap down, INSU,FAZ
[06:22 am] mikewd2 -: still lots of rumors
that Amazon going to buy NFLX streaming
[06:22 am] mikewd2 -: wish it would move the
stock
[06:23 am] garyb : are you in NFLX now
Mike?
[06:23 am] joeytsa : GOLD,BRCM,TNA gapping
up too
[06:23 am] mikewd2 -: still have 300 shares,
almost even though – dumped 500 yesterday for
small profit
[06:23 am] topdogrex : I am in NFLX
[06:24 am] joeytsa : decent gary, 2-1
[06:24 am] mikewd2 -: i came back after
market couldn’t believe the sell off
[06:24 am] mikewd2 -: u guys did good on TZA
yesterday, yes?
[06:24 am] shark : you short or long, NFLX
topdog?
[06:25 am] garyb : 2 wins Joey?
[06:25 am] garyb : Yeh…I was looking for a
bounce in TNA as well…got clobbered!
[06:25 am] joeytsa : Bush: no child left
behind…
[06:25 am] joeytsa : profit taking?
[06:25 am] joeytsa : yeah, 1 dumb
loss..working on something
[06:25 am] mikewd2 -: probably, fully
expected it to continue down today
[06:25 am] sonorant : no got slaughtered on
TNA, TZA — should have been easy but I
mangled it. And good morning all
[06:26 am] joeytsa : Obama: no child left a
dime
[06:26 am] shark : and the politicians want
to take all the credit for it
[06:26 am] shark : they gave the dimes to
help the failing adults and to save them from
themselves
[06:28 am] mikewd2 -: let’s have a good day
and make Kris proud.
[06:28 am] shark : Kris and Brent off
today?
[06:28 am] sonorant : well I have
reconfigured my miniature screen set up to
accommodate more charts — have left chart
‘stubs’ that can be opened up quickly but sit
there as reminders of what I am supposed to
be looking at. We shall see if it helps or
just confuses me more!! lol[06:29 am] doji :
That is a positive attitude… and please
share your ideas and entry price right after
you trade; if you post it later then it will
be too late
[06:29 am] mikewd2 -: Kris gone until Monday
– getting hitched
[06:29 am] sonorant : doji, I hope you
aren’t talking to me — I am just following
everyone else! still worse than clueless.
[06:30 am] shark : OH, this is the big
weekend. Wow!
[06:31 am] joeytsa : NFLX dropping fast
[06:32 am] doji : SINA dropping
[06:32 am] joeytsa : closed gap already
[06:32 am] scalpman : AGQ S 111.62
[06:33 am] joeytsa : FOSL watch
[06:33 am] mikewd2 -: AGQ l 111.10
[06:33 am] scalpman : Out 1/2
[06:34 am] joeytsa : ps: German parliament
approves changes to EFSF
[06:35 am] scalpman : All out AGQ
quickie
[06:36 am] doji : MCP moving
[06:36 am] joeytsa : SINA gap close and
lower
[06:37 am] storage : sina s82.75 c81
[06:38 am] doji : SINA support at 78, then
76.5
[06:39 am] joeytsa : SINA might be setting
up a 3mf
[06:41 am] doji : SINA and NFLX tanking
[06:42 am] joeytsa : out NFLX, +7…smaller
lot
[06:43 am] doji : SINA broke previous
support at 76.5
[06:44 am] doji : SINA next support at
74.5
[06:44 am] skydiver : L NFLX 121.79
[06:44 am] trvlntrdr : I bought fmcn[06:48
am] joeytsa : AAPL selling off
[06:48 am] joeytsa : CLF trying to close
gap
[06:49 am] garyb : TNA moving up
[06:49 am] joeytsa : SINA setting up
[06:50 am] joeytsa : both as MKscalp, 3mf
[06:50 am] joeytsa : scratch that idea for
now
[06:50 am] joeytsa : ugly move down
though
[06:50 am] mikewd2 -: jumped the gun a bit
SINA l 76.02
[06:51 am] doji : Stopped in my SINA long…
aggg[06:51 am] trvlntrdr : spy is up, sina
negative???
[06:52 am] doji : Yes, and it is still
dropping
[06:52 am] mikewd2 -: see no news on SINA
[06:52 am] shark : there goes NFLX
[06:52 am] tennisball : Mitch, short term
-meaning 0ne minute chart ?
[06:52 am] trvlntrdr : maybe there will
be—
[06:54 am] joeytsa : gap up fades worked
great today
[06:54 am] joeytsa : thanks Mitch..nice V
pattern huh
[06:55 am] joeytsa : AAPl trying to close
gap
[06:56 am] doji : Mike still in SINA?
[06:56 am] observer : SLW l 31.08
[06:57 am] joeytsa : good call on that
bounce mitch..almost 80cents
[06:57 am] joeytsa : re: Mitch’s DVA
call..bounced up to around the 5ma then down
to a lower low…might keep trending down
[06:57 am] skydiver : Aapl L 398.04
[06:58 am] garyb : wow YOKU is really
diving
[06:58 am] joeytsa : a little consolidation
in SINA..let’s see
[06:58 am] lisas : pending home sale in 2
minutes
[06:58 am] shark : clearly, NFLX on its way
to 100
[06:58 am] shark : die, NFLX, die
[06:59 am] mikewd2 -: sounds like maybe the
60’s
[07:00 am] joeytsa : CLF gap close and
lower
[07:00 am] skydiver : Go appl[07:01 am] doji
: Shark are you NFLX short?
[07:01 am] shailan : sorry to ask, but Kris
or Brent not in the room today?
[07:02 am] joeytsa : TZA nice bounce
[07:02 am] shailan : ok ty[07:02 am] shark
: Kris getting married
[07:02 am] shark : sINA down
[07:04 am] cowboyh : We have to run out of
sellers before long
[07:04 am] shark : not on NFLX
[07:05 am] cowboyh : Wynn getting increased
volume and the banana curve
[07:05 am] mikewd2 -: SINA starting to turn
up
[07:06 am] guitarzan1 -: c’mon buyers!!
gooooooo 🙂
[07:06 am] joeytsa : banks having a good
day…might be the cause of the flyers
selling off
[07:07 am] qwert : wynn going parabolic
[07:09 am] observer : stopped SLW
[07:10 am] doji : Entered too early
[07:10 am] doji : Mike, are you still in
SINA? I stopped with a loss of $400….
[07:10 am] joeytsa : monitor any TZA
positions
[07:10 am] scalpman : Stopped on
YOKU…Longs today are not powerful.
[07:11 am] scalpman : Wynn…I got 1% on 1/2
and then stopped in green
[07:12 am] garyb : looks good on 2 min
[07:12 am] garyb : watching TNA
[07:12 am] mikewd2 -: news on NFLX, was split
of streaming could put more pressure on DVD
rentals. duh
[07:17 am] shark : looks like SPY turning
more down
[07:18 am] anthonyb : KMB holding up well
[07:18 am] doji : SINA consolidating but
could continue dropping is SPY don’t turn
up
[07:18 am] mikewd2 -: Netflix breaks support
at $119 area, next major support at $107
area
[07:19 am] doji : Anyone shorting NFLX?
[07:19 am] joeytsa : yes anthony, been
watching it
[07:19 am] mikewd2 -: i’m done playing NFLX –
lost too much money
[07:19 am] shark : go with the trend,
mikewd2
[07:19 am] shark :
me,me,me,me,me,me,me[07:20 am] doji : You
are not alone Mike, my lost was with SINA
[07:20 am] garyb : me too Mike…I think
I’ll sit today out…real bad day today..
[07:20 am] mbear : made 2 pts shorting NFLX
after it broke 125…should have been more
greedy
[07:20 am] shark : help us take NFLX down to
60
[07:20 am] shark : the trend is your friend,
until the end
[07:21 am] shark : catching those bounces is
tough when they are in a downtrend
[07:21 am] skydiver : Glad I got in and out
of NFLX and Aapl fast today. In the green
[07:22 am] mikewd2 -: amazing down up 200
plus and i’ve had my biggest lost in the room
since joining.
[07:23 am] lightning : lots of day left
Mike. Just look for the next good setup
[07:23 am] mhaus : AGQ announced a 2:1 split
effective 10/13
[07:23 am] mikewd2 -: me too! haha[07:23 am]
skydiver : crazy day
[07:23 am] skydiver : Sorry Mike
[07:23 am] skydiver : Yes Mike – hang in
there – great days ahead
[07:24 am] lisas : Gary, I’m sim today
because of yesterday, messed up entries,
platform froze, learning new set ups. Storm
last night, couldn’t start trading computer
afterwards, but it did start this morning
strangely. Going to regroup and sim trade
rest of week
[07:24 am] shark : watch NFLX for lower
lows…
[07:26 am] joeytsa : GMCR following the the
5ma down
[07:26 am] joeytsa : they hate coffee 🙂
[07:26 am] mikewd2 -: wow GMCR freefall[07:27
am] mikewd2 -: SINA heads lower with group,
next support is at $73.90, then at $72.60
[07:28 am] anthonyb : Lisa, I will most
likely SIM trade for the month of October and
go live Nov. 1st. I will have 6 months of
daytrading practice by then. I want to get
this right. I still swing trade with real
money. But I have a good handle on that
[07:28 am] joeytsa : DVA with a little green
showing
[07:28 am] joeytsa : GS turned over
[07:28 am] qwert : wynn at august lows
[07:28 am] shark : die, NFLX, die!!!!
[07:29 am] anthonyb : stopped out last 1/2
of KMB. No more longs left for me
[07:29 am] joeytsa : might lead things lower
more
[07:29 am] mikewd2 -: were going to hit a
bottom! somewhere sometime
[07:29 am] skydiver : shorted CNP 20.28
[07:30 am] anthonyb : out 1/2 OSK short
[07:31 am] anthonyb : AMD approaching
lod[07:31 am] joeytsa : out DVA
[07:32 am] anthonyb : out 1/2 SD short
[07:32 am] guitarzan1 -: thoughts on SINA
after this little flag pattern? Is this
likely a continuation pattern?
[07:32 am] joeytsa : IDCC lod[07:32 am]
joeytsa : left it way early, just don’t
trust the overall mood
[07:33 am] guitarzan1 -: thx joey
[07:33 am] joeytsa : guitar..guess would be
more down, but just a guess, unless the
market finds a bottom
[07:33 am] ronfrac : TNA trying to bottom
[07:34 am] doji : S CNP at 20.21 out 19.88,
Thanks Mitch
[07:34 am] lisas : out half cnp[07:34 am]
ronfrac : STOC 115 on DJX
[07:34 am] shark : AAPL -bouncing a bit.
possible indicator of market direction
[07:35 am] anthonyb : like the looks of CNP.
was too busy to see that one
[07:35 am] trvlntrdr : ew breaking out
[07:36 am] candelas : i still have piece of
DVa[07:36 am] joeytsa : GMCR turned up
[07:36 am] joeytsa : i left a nice chunk on
DVA..be better next time
[07:36 am] mikewd2 -: missed TNA
[07:36 am] skydiver : covered CNP 19.94
[07:36 am] skydiver : Thanks Mitch!
[07:36 am] sonorant : I’m having terrible
computer problems — can’t load new charts.
Existing charts are fine. May have to exit
out and reload Ninja T., but I’m in NFLX
short and hate to exit
[07:36 am] trvlntrdr : I did, covered at 2%
!!
[07:36 am] trvlntrdr : thanks mitch[07:37
am] anthonyb : you are not alone Sonorant
[07:37 am] joeytsa : set a stop if you have
to sonorant
[07:37 am] truck : LVS
[07:38 am] lightning : Guitar, isn’t the
“book” on flags that after consolidation they
resume their previous trend?
[07:39 am] guitarzan1 -: yes… lightning….
and i’m watching that closely cuz i’m long
[07:40 am] doji : SINA dropping again
[07:40 am] duckfan : bidu, big drop
[07:40 am] shark : NFLX new down stroke
[07:41 am] joeytsa : yes Mitch, that 2min is
really helping calm things down
[07:41 am] running : target for DVA ?
[07:43 am] joeytsa : hey doji: about
yesterdays TZA trade….
[07:44 am] duckfan : TNA nearing gap
close
[07:44 am] joeytsa : Doji: you were upset
that you missed that TZA trade, but 2 good
things…you made the right call not only by
seeing the chart, but by the momentum….
[07:44 am] running : I dud small profit and
posit
[07:44 am] trvlntrdr : ew not much of a
breakout—:(
[07:45 am] joeytsa : if you have a hard time
getting in…lots of times it means you made
the right call
[07:45 am] mikewd2 -: SINA continues to
drop
[07:46 am] scalpman : IVN S @ 14.52
[07:46 am] shark : AAPL running
[07:46 am] shark : more AAPL new lod[07:47
am] anthonyb : out 1/2 AMP short
[07:47 am] Mitch K: glad you like the 2 min
joey
[07:47 am] scalpman : Out 1/2 IVN S
[07:47 am] scalpman : Stopped in the green
IVN S
[07:47 am] shark : looks like DIA &
SPY want to fill the gap
[07:48 am] anthonyb : he’s not the only one
why anyone would use it. Now I know. I
never
[07:49 am] anthonyb : out another 1/4 OSK
short
[07:49 am] anthonyb : Whoops. Now I know why
people use it
[07:49 am] aussie123 : Guys …It seems the
vxx is just too strong this morning
[07:49 am] doji : Thanks Joey, I appreciate
the support. I just counterbalanced my loss
in SINA long with my short in CNP, but still
$200 in red
[07:49 am] doji : We have a long way to go
to erase the loss
[07:49 am] go4it : IVN thx Mitch
[07:50 am] shark : I concur, Mitch – NFLX
[07:51 am] scalpman : Out another 1/4 IVN
S
[07:52 am] mikewd2 -: SINA heading up
[07:52 am] Mitch K: good one on IVN, big
profit on $14 stock
[07:52 am] qwert : yeah thanks for ivn
mitch[07:52 am] ronfrac : SPY 1 min turning
up
[07:53 am] mikewd2 -: or maybe another head
fake
[07:55 am] mikewd2 -: The U.S. Justice
Department is investigating accounting
irregularities at Chinese companies
including SINA
[07:55 am] mikewd2 -: there’s the reason.
[07:56 am] mikewd2 -: just came across
flyonthewall – i think your right though
shark
[07:56 am] scalpman : All out IVN…
[07:56 am] shark : that’s old news SINA,
mikewd2
[07:56 am] sonorant : good scouting mike
[07:57 am] mikewd2 -: also YOKU and BIDU
[07:57 am] scalpman : Tight stop on
IDCC…
[07:58 am] ronfrac : what about TNA in
here
[07:58 am] scalpman : Out 1/2 @ 51.09 (in at
50.80)
[07:59 am] ronfrac : STOC on SPY just
rockets up
[07:59 am] skydiver : STEC take over
chatter
[08:01 am] mikewd2 -: long TNA 35.25
[08:01 am] scalpman : Out another 1/4
IDCC
[08:03 am] scalpman : TRailing up last 1/4
IDCC
[08:03 am] skydiver : argh – missed GMCR –
forgot to put my alert in
[08:04 am] anthonyb : ok gang, I’m off to
work. Hope everyone has an awesome day. Wish
I could stay. But all these SIM dollars won’t
pay the grocery bill. Thanks MITCH. I had a
good time
[08:04 am] ronfrac : Mitch: Does this rally
look real. Poss. tgt. In TNA 35.32
[08:04 am] scalpman : Out 1/2 TNA
[08:04 am] scalpman : TNA vWAP @ 36.16
[08:04 am] shark : yeah, GMCR nice on that
bounce skydiver
[08:07 am] scalpman : 1/3 retrace on SPY
see if it can hold
[08:07 am] shark : SINA down, down, down
[08:08 am] scalpman : All out TNA and
IDCC
[08:15 am] skydiver : Got to go — catch you
all later! Good trading!!
[08:16 am] shark : awesome skydiver. have a
good one
[08:17 am] mikewd2 -: The House of
Representatives unanimously approved a bill
to keep the federal government running until
Tuesday.
[08:23 am] joeytsa : Mitch: do you ever find
yourself late on a trade using the 2min as
opposed to the 1min…or do you now mind?
[08:24 am] mikewd2 -: i thought the training
told us to buy on the 1min and sell off the
3min or 2min.
[08:25 am] lisas : lvs doing well for me
[08:25 am] ronfrac : mcp short ?
[08:26 am] mikewd2 -: WYNN was a good call,
but forgot to check back on it
[08:27 am] jsn13 : how about SINA?
[08:28 am] mikewd2 -: SINA plunges on DOJ
probe report, next support at $67.64, then at
$65.99
[08:29 am] mikewd2 -: couple minutes a go
news
[08:29 am] scalpman : yoku new lod[08:33 am]
joeytsa : mike: i did that on DVA earlier
[08:33 am] mikewd2 -: seems you have to take
profits a bit quicker today on longs – missed
selling TNA twice
[08:33 am] trvlntrdr : news is always after
the inside trading
[08:34 am] mikewd2 -: Best Buy (BBY) followed
in the footsteps of Office Depot (ODP) and
Staples (SPLS) by slashing the prices of
Research in Motion’s (RIMM) PlayBook
tablet
[08:36 am] joeytsa : mike, remember to take
the news into context of your trade
[08:36 am] lisas : Moving stop on last
quarter lvs to 41.64
[08:36 am] mikewd2 -: i’m rolling now first
positive trade since preopen out TNA 35.85
[08:37 am] joeytsa : RRC going for prev
close
[08:38 am] candelas : sina coming up on
vwap[08:38 am] joeytsa : i wish i had
vwap[08:39 am] mikewd2 -: silver rallying a
bit
[08:40 am] joeytsa : lightspeed, streetsmart
edge
[08:40 am] shark : NFLX at lod[08:40 am]
sonorant : joey, which platform are you on?
why don’t you have VWAP?
[08:41 am] joeytsa : LS has vwma, but don’t
see vwap[08:42 am] doji : For S Mitch?
[08:42 am] lightning : no VWAP on LS, that’s
correct
[08:42 am] mikewd2 -: for short
[08:42 am] storage : sina looking a little
toppy
[08:43 am] mikewd2 -: i assume if the books
are ok, these stocks will run back up at some
point
[08:44 am] joeytsa : you would think so
mike
[08:45 am] mikewd2 -: SINA at 68 would have
been one great buy, didn’t look like it at
the time though
[08:45 am] sonorant : joey, there was a VWAP
indicator written for LS that was given out
in the April 2010 seminar
[08:45 am] topdogrex : Sina monitoring for
long or short Mitch
[08:46 am] duckfan : good run for TNA after
it closed the gap
[08:46 am] trvlntrdr : Mitch do you think
the safest beginner trades are buy on the
dips of intra-day trending stocks?
[08:47 am] mikewd2 -: and BIDU
[08:47 am] mikewd2 -: may be why SINA moving
up
[08:47 am] mikewd2 -: Piper Jaffray believes
the Department of Justice probe into Chinese
accounting likely puts smaller company’s such
at Youku.com (YOKU), Sky-mobi (MOBI), and
Dangdang (DANG) at risk given they do not
have proven track records. The firm believes
SINA (SINA), and Baidu (BIDU) will be less
affected.
[08:48 am] qwert : sure but i just
remembered it’s for esignal not lightspeed do
you guys use their charts
[08:49 am] joeytsa : FOSL powering up
[08:49 am] joeytsa : no, not using
esignal..thanks anyway
[08:54 am] lisas : I agree, I do best on the
reversals, gaps not quite so well, still
needs practice
[08:54 am] trvlntrdr : mitch, thanks, that
helps. But are the highest profit potential
the safest for beginners?
[08:55 am] trvlntrdr : What are the training
wheel trades, I guess is the question
[08:57 am] joeytsa : makes sense lisa..gap
fades are my fav, followed by Mitch’s V
pattern
[08:57 am] lisas : I may try one of the
other platforms so I can sim trade the open
gaps while live trade the 3min reversals.
Hard to switch back and forth.
[08:57 am] ronfrac : I would say training
wheel trades are smaller-100-200 shares.
[08:57 am] sonorant : sina turning??
[08:57 am] trvlntrdr : It definitely helps a
beginner to trade with mentors like the
trading room, especially after learning how
to manage the categories of trades. to allow
a template for learning in real time.
[08:58 am] joeytsa : lots of times my gap
fades form a Mitch V pattern, leading to the
reversal trade that Mitch just wrote about
above
[08:58 am] lisas : Actually, Kris made great
point about being consistent with dollar
amount. I have had some larger stocks wipe
out my gains in smaller stocks as I was using
the same share size on all
[08:58 am] sonorant : yes — I’ve upped my
share size on the tiny stocks — makes them
seem real profitable now
[08:59 am] lisas : Sina does look like a
short now
[08:59 am] shark : looks weak still
[08:59 am] shark : SINA reversing
[09:02 am] joeytsa : lisa: while i would
never recommend trading with schwab, their
streetsmartedge platform has a really cool
feature..
[09:02 am] joeytsa : you can have different
strategy setups and drag them to separate
monitors etc…just too expensive
commission-wise
[09:05 am] mikewd2 -: AGQ approaching
hod[09:06 am] lisas : Joey, thanks. I’ll
check it out. I have Tradestation right now,
but freezes periodically. Still need to catch
up on webinar videos on platforms. Probably
will call it a day and spend the afternoon
doing that.
[09:07 am] joeytsa : i actually really like
sse, i have one page set for the 3minfade, 1
set like mitch with the 1min/2min..etc
[09:07 am] joeytsa : just have to keep
turning my head side to side to enter via
lightspeed[09:08 am] joeytsa : decent
watchlist, news, screener..not great but ok
for a quick look
[09:10 am] go4it : I like Streetsmart
edge
[09:10 am] lightning : I’m watching for SINA
to break up through the 75.75 consolidation
area. If it breaks, I’ll be looking for it
to run.
[09:10 am] trvlntrdr : yes
[09:11 am] joeytsa : i like that chart
too
[09:11 am] mikewd2 -: i think that news that
maybe the larger chinese companies will not
be an issue with the books, is helping.
[09:11 am] trvlntrdr : I have to be very
conservative with my trading in the next week
or I will go below 25,000
[09:11 am] trvlntrdr : I just wanted to see
if you agreed with the idea.
[09:13 am] sonorant : Mitch — I am looking
at the AMSC daily — quite a few days of down
recently
[09:13 am] trvlntrdr : yest was all time
low
[09:14 am] joeytsa : think we are just
looking at it as an example
[09:14 am] mikewd2 -: how are you guys
looking to trade AMSC?
[09:15 am] candelas : nice call on Sina
short Mitch
[09:15 am] mikewd2 -: boy, hit that
resistance at 75’ish and cratered
[09:16 am] joeytsa : the consolidation
area..macd was trending down the whole
time
[09:17 am] doji : NFLX re-start dropping
[09:17 am] joeytsa : on the 1min
[09:17 am] trvlntrdr : that would be your
short term upside target– 5?
[09:18 am] neuronx : INSU nice drop
[09:19 am] joeytsa : CLF back down below
ma’s
[09:20 am] neuronx : Mitch you are long on
AMSC?
[09:20 am] pow : KRIS FMCN?
[09:20 am] shark : thx, doji. Had my NFLX on
autopilot
[09:21 am] pow : Sorry, MItch take a look at
FMCN
[09:21 am] sonorant : Kris is doing
pre-wedding prep pow[09:21 am] trvlntrdr :
anybody want my NFLX 210 october calls? I am
having sale
[09:22 am] joeytsa : 1 minute chart on
AMSC
[09:22 am] joeytsa : also a break above
yesterdays high around $4.30 on higher
volume
[09:22 am] joeytsa : re: AMSC, i see a
stoch buy signal every time it touched 35 or
lower then turned back up…
[09:23 am] trvlntrdr : I bought them before
this whole nflx thing started, back when they
were a strong but short term oversold
stock…..
[09:24 am] joeytsa : google Global
Communications sometime
[09:24 am] shark : you can still get .05 I
would take it.
[09:25 am] joeytsa : Mitch STRESSES
discipline..especially with losses
[09:25 am] joeytsa : trv: you asked about
best trade…lots of times its your worst
loss
[09:25 am] trvlntrdr : as soon as the news
started about the pricing — they were almost
worthless–
[09:26 am] joeytsa : if trading was easy,
everyone would be doing it and be rich
[09:26 am] joeytsa : trust me: If you aren’t
disciplined with keeping your losses under
control…a $0 balance in your account
will
[09:26 am] mikewd2 -: bummed about my NFLX
stop this morning, lost a lot but if i still
had it 8 points lower! ouch
[09:26 am] mikewd2 -: your right joey
[09:26 am] shark : usually, your first loss,
is your best loss trvlntrdr[09:26 am]
trvlntrdr : you might be right joey– but
after the news of pricing change they went
down to pennies. I held because it was only a
$7 total risk.
[09:27 am] mikewd2 -: not bad trlntrdr, my
NFLX was couple k
[09:27 am] shark : it’s the % loss that
matters
[09:27 am] sonorant : I have been in and out
of NFLX — not sure if up or down on it
[09:27 am] trvlntrdr : I actually didn’t
lose much — a couple hundred dollars.
[09:28 am] joeytsa : more lessons in losses
than wins, bunch of wins can make us
lazy..Mitch rule #18
[09:28 am] sonorant : not much of a dip this
last time. I would love to do more of those
charts — slow but steady
[09:29 am] trvlntrdr : I definitely think
the sting of losing is a better teacher–
plus you don’t get careless.
[09:30 am] joeytsa : yeah mike…remember
those 38 steps to becoming a daytrader[09:30
am] mikewd2 -: yeah, but you forget after a
few wins and time
[09:30 am] sonorant : yes, but sooner or
later I will need to win, or I will be out of
the game — I can only be a student for so
long
[09:30 am] trvlntrdr : mike– you are so
right!
[09:30 am] trvlntrdr : thanks mitch–
[09:31 am] mikewd2 -: Rumor, RIMM may exit
tablet market
[09:31 am] trvlntrdr : I think sina is
trending now. down
[09:32 am] joeytsa : RIMM is up against
it
[09:32 am] joeytsa : RIMM used to be a
high-flyer
[09:32 am] mikewd2 -: i agree Mitch
[09:32 am] mikewd2 -: RIMM says “pure
fiction”
[09:32 am] Mitch K: my guess is that RIMM
goes away altogether next few years
[09:33 am] joeytsa : it’s like a phone with
no dial buttons
[09:33 am] lightning : I’ll buy the fire.
[09:33 am] mikewd2 -: seems like a mistake
[09:33 am] Mitch K: what is your take on the
new Amazon Kindle Fire $199? no camera and
no mic[09:33 am] shark : $79 can’t go
wrong.
[09:34 am] lisas : It will funnel people to
amazon
[09:34 am] lisas : new cloud computing
storage is interesting
[09:34 am] Mitch K: i think the Fire fills a
market, a lot of people just want to check
email, browse a little, watch movies
[09:34 am] shark : ipad still the
ultimate
[09:34 am] shark : RIMM alert
[09:35 am] joeytsa : i would buy it as a
gift for someone, but get an ipad for me
🙂
[09:35 am] lightning : neither replace my
iphone.
[09:35 am] lisas : priced right as well
[09:35 am] shark : I agree, Mitch. Great,
affordable gift price
[09:36 am] joeytsa : i just spent $2000 for
an oven and range hood
[09:36 am] joeytsa : not gonna chince on
something really cool haha[09:36 am] lisas :
Also, many textbooks are coming out for
ipads, fire will be able to get into that
market for amazon
[09:36 am] lisas : But that is really
true.
[09:36 am] Mitch K: lol right joey, you bad
boy
[09:37 am] Mitch K: watching for potential
bottom in AMSC again. each time this
happens, the higher the risk so you don’t go
heavier, you go lighter in position size as
it goes up
[09:38 am] Mitch K: no sonorant, not add, you
buy and sell, not additive. creates too big
position with your description
[09:38 am] shark : watch to make sure AMSC
holds the 50min ma -it’s testing it now
[09:38 am] sonorant : okay, so in theory,
you could add at each dip — less as it goes
up?
[09:39 am] shark : buy pullbacks, sell
rips
[09:39 am] shark : until it no longer
works
[09:39 am] sonorant : so you just play the
same stock over and over?
[09:40 am] joeytsa : JVA with a decent
spike
[09:41 am] joeytsa : but that pattern is
always playable, Mitch talks pattern
recognition
[09:41 am] joeytsa : sonorant..you can play
the same stock, but after a decent run
sometimes the momentum slows….
[09:41 am] qwert : mitch you mean the
stochastics on the 1 min chart or 2 min
chart
[09:41 am] shark : NFLX new lod, hope you
guys have some shorts in here
[09:41 am] sonorant : and what are you using
as confirmation? stochastics?
[09:42 am] qwert : on amsc[09:43 am] junior
: out half SINA short
[09:43 am] shark : RIMM new lod[09:45 am]
lightning : I don’t see a halt on AMSC.
[09:45 am] Mitch K: guys, are we halted on
AMSC?
[09:45 am] Mitch K: just a min qwert, let me
get to that
[09:45 am] Mitch K: yeah, ok, just slow
[09:45 am] qwert : no
[09:45 am] sonorant : just stopped out
[09:45 am] trvlntrdr : still trading
[09:46 am] mikewd2 -: so with financials
leading this rally, shouldn’t the other
stocks come back soon?
[09:46 am] qwert : okay thanks mitch[09:47
am] joeytsa : only if investors really
believe in the move
[09:48 am] joeytsa : but theoretically
yes
[09:48 am] lightning : SINA banging against
VWAP here
[09:48 am] shark : rally, what rally? a lot
of former leading stocks breaking down…
[09:48 am] truck : TIF
[09:49 am] sonorant : no lower low? I had
drawn a trend line and it broke it
[09:49 am] trvlntrdr : has not made a lower
low or high
[09:49 am] trvlntrdr : sonorant, for what
it’s worth– amsc is still technically in an
uptrend
[09:50 am] mikewd2 -: your right shark, rally
wasn’t the right word.
[09:51 am] trvlntrdr : It did come off the
trend line, but it stll could be a pullback
only
[09:53 am] trvlntrdr : I am a lot more
cautious too about it and adjusted my
targets, but I kept my stops below the last
low. I am not an expert though but I think
that is what the teachers would say
[09:54 am] sonorant : that makes a huge stop
unless you got it at the bottom of the dip
[09:56 am] sonorant : IDCC down a bit
[09:58 am] trvlntrdr : yes that is true
about the stop but I thought it was a safer
type of trade. whatever that is.
[10:00 am] joeytsa : on that higher low?
[10:00 am] joeytsa : trv: are you saying
your stop would have been slightly under
$4.50?
[10:02 am] joeytsa : that’s the one I’m
looking at sonorant..was eyeballing it
[10:02 am] sonorant : I thought you were
saying your stop would have been at $4.45
under the low prior to that
[10:03 am] joeytsa : that’s how the chart
looks to me also
[10:03 am] trvlntrdr : but now it has made a
lower high the game is changed I want out
[10:03 am] trvlntrdr : yes I had the stop
under 4.45
[10:05 am] sonorant : ATVI has given some
nice swings today — different chart pattern
from many of them.
[10:07 am] joeytsa : trv: look at the 52wk
chart of CMG…same pattern
[10:09 am] sonorant : but only 1 %
[10:09 am] trvlntrdr : it does look quite
similar, except CMG is a good stock and amsc
is only reboundind. only good for day
trading
[10:10 am] trvlntrdr : I did look at avti,
sonorant, there is money to be made there–1%
is still 1%
[10:13 am] trvlntrdr : sina entering a
pennant pattern– who knows where it will go
from here?
[10:15 am] trvlntrdr : I think down but I am
not trading it!
[10:16 am] neuronx : THO setting for
short
[10:19 am] trvlntrdr : yndx has some good
movement today.
[10:22 am] joeytsa : yeah trv..it’s the
chart pattern to look at
[10:22 am] lightning : APOL dropping hard
[10:23 am] joeytsa : APOL alert
[10:23 am] sonorant : or is THO a runner
that is at a dip?
[10:23 am] sonorant : this is where I start
to go crazy a little bit.
[10:24 am] lightning : APOL: OIG’s report
on fraud rings could impact For-Profit
sector, says PAA ResearchPAA Research
believes the Office of Inspector General’s
report on fraud rings within the online
education could have serious implications for
the sector.
[10:24 am] lightning : from two minutes
ago
[10:25 am] joeytsa : the f word
[10:25 am] trvlntrdr : apol down but COCO
stable.
[10:25 am] trvlntrdr : the government has
been after the for profit schools for 3
years.
[10:26 am] candelas : not as strong
[10:26 am] sonorant : If it were fraud, I
thought it wasn’t supposed to bounce? and it
is bouncing.
[10:27 am] joeytsa : correct candelas
[10:27 am] joeytsa : out APOL
[10:27 am] sonorant : ah…. thanks so that
is the distinction
[10:27 am] trvlntrdr : I would stay away if
it even might be fraud. check the other
stocks in the sector.
[10:28 am] joeytsa : 30cents for the good
guys 🙂
[10:28 am] junior : joey thanks for APOL
[10:30 am] candelas : lod Nflx[10:30 am]
joeytsa : trv: if it’s truly fraud, you
would think the stock would wiggle down
eventually
[10:30 am] trvlntrdr : I agree I have no
idea what it is.
[10:30 am] trvlntrdr : the other stocks in
the sector didn’t move so it isn’t something
systemic.
[10:31 am] mikewd2 -: TNA, SPY heading
south
[10:31 am] trvlntrdr : the chart patter
supports you being right but for beginners it
can be dangerous
[10:32 am] pow : mike, i am short amsc what
is a good exit point
[10:33 am] joeytsa : trv: my trade wasn’t
absolutely correct, but i risked $150 to make
$300…and i then decided against the
short
[10:33 am] mikewd2 -: joey you want to help
pow[10:33 am] mikewd2 -: pow- i haven’t been
playing amsc, in fact i thought you guys were
long.
[10:33 am] mikewd2 -: there is support at
4.40
[10:34 am] joeytsa : what happened with
pow?
[10:34 am] mikewd2 -: evidently pow shorted
it – which looked good. He is question where
to exit
[10:34 am] trvlntrdr : Mike I think a lot of
people got out of AMSC
[10:35 am] joeytsa : not sure the entry
price
[10:35 am] joeytsa : there’s slight support
here
[10:35 am] qwert : vwap on amsc is at
4.35
[10:36 am] joeytsa : indi’s are bottoming,
but not turning back up yet
[10:36 am] mikewd2 -: pow – what was your
entry?
[10:38 am] joeytsa : hang on..getting ready
to close out a TZA trade
[10:38 am] mikewd2 -: at support here, be
nice if it kept falling
[10:38 am] sonorant : AMSC good short —
that is being flexible — good job pow!
[10:38 am] trvlntrdr : apol really in free
fall —
[10:39 am] joeytsa : out TZA….nice trade
pow[10:39 am] mikewd2 -: very nice job
pow[10:39 am] pow : out of AMSC @ 4.39 for
about .30 cents
[10:40 am] mikewd2 -: TNA just keeps on
falling
[10:40 am] sonorant : IDCC losing its
cookies again
[10:41 am] joeytsa : nice short on APOL if
you got it
[10:42 am] joeytsa : ESI has same pattern as
APOL
[10:42 am] trvlntrdr : yep
[10:43 am] joeytsa : best guess on that
APOL/fraud….
[10:43 am] trvlntrdr : I was looking at
other ones and didn’t see it
[10:43 am] trvlntrdr : stra[10:44 am]
joeytsa : that quick pop were day traders
playing the quick overreaction,, that 2nd
drop due to the average joe getting the news
late
[10:44 am] trvlntrdr : the whole sector is
declining now
[10:46 am] mikewd2 -: looking like a good
setup for a big bounce – yes?
[10:48 am] candelas : lod Apol[10:48 am]
trvlntrdr : Sina finally broke out to the
upside
[10:49 am] joeytsa : bottom coming on
APOL??
[10:49 am] joeytsa : heavy volume, last bar
gapped down
[10:50 am] doji : SINA, when trvlntrdr? I
don’t see it
[10:51 am] joeytsa : APOL a setup on 3mf
possibly
[10:51 am] joeytsa : in ESI..playing
tight
[10:52 am] pow : MK, what is good out for
AMSC?
[10:52 am] skydiver : L apol 40.16
[10:52 am] trvlntrdr : edu[10:53 am] joeytsa
: quick trade on ESI
[10:53 am] sonorant : long APOL 40.12
[10:54 am] trvlntrdr : good move on ESI
[10:55 am] joeytsa : yeah trv, i took
40cents and 90cents
[10:55 am] pow : FAS new LOL
[10:55 am] pow : out of all AMSC long
[10:56 am] trvlntrdr : I thought EDU might
follow the leader but it is a little dog
right now
[10:57 am] junior : 33,98 TNA
[10:57 am] mikewd2 -: 34.13,
[10:57 am] qwert : 33.97 tna[10:57 am]
storage : 34.0
[10:57 am] terry : .14
[10:57 am] truck : 34.05,,,,TNA
[10:57 am] truck : yes
[10:58 am] junior : out some at .45
[10:58 am] pow : sale TNA around 34.5 to
34.75
[10:58 am] qwert : took 1/2 at 34.49
[10:58 am] sonorant : out APOL — some
profit
[10:59 am] qwert : stop at be on tna[10:59
am] truck : out half 34.40,,,plus one
percent..TNA[11:00 am] Mitch K: ESI same
sector as APOL trvlntrder[11:00 am] pow :
Look at AMSC
[11:01 am] Mitch K: on what stock storage?
[11:01 am] monster : around 35s
[11:01 am] storage : don’t think we have a
sell signal yet
[11:01 am] storage : tna[11:01 am] trvlntrdr
: (but edu turned in to a dog)
[11:01 am] trvlntrdr : yep– I was following
the sector and figured I didn’t want to get
in all the same stocks as the other guys on
the board.
[11:02 am] junior : out some more TNA,40
[11:02 am] junior : stopped last piece tna
.25
[11:02 am] mikewd2 -: stopped half at even
[11:02 am] mikewd2 -: want to get out half at
1% – sold half at 34.47
[11:02 am] Mitch K: right, good man
[11:02 am] storage : did take 1/2 off at
34.5
[11:02 am] truck : plus .15 last
half,,,TNA[11:02 am] truck : stopped last
half34.20
[11:03 am] doji : Fitch cuts New Zealand’s
sovereign rating to ‘AA’
[11:03 am] mikewd2 -: not a great trade but a
little profit
[11:03 am] pow : spy testing double bottom,
should get bounce here
[11:04 am] doji : and the market reacts?
[11:04 am] truck : one percent ,first
half,,,,half per cent last half
[11:05 am] storage : stop last 1/2 with a
little profit on it
[11:07 am] mhaus : Bank of America plans to
start charging customers a $5 monthly debit
card fee. The fee will be rolled out starting
early next year.
[11:07 am] mhaus : for purchases with the
debit card
[11:11 am] storage : On tna Mitch, because
the price did not go up far enough we got
stop out be for the sell signal?
[11:13 am] pow : Have anyone notice TZA is
making a higher high every day?
[11:13 am] storage : Mitch, on tna the price
did not go up enough, so we got stopped out a
little before the sell sig ?
[11:14 am] Mitch K: what chart interval did
you use to get a sell signal on TNA
storage?
[11:15 am] lightning : he’s looking at the
2-min TNA chart
[11:15 am] Mitch K: explain
[11:15 am] storage : chart on tsa[11:16 am]
storage : I am very new, but the black line
came down to the blue?
[11:16 am] storage : on the stochastic
[11:17 am] Mitch K: the interval means 1,
min, 2 min, etc.
[11:18 am] pow : TZA over the last two days
have traded a range of about 8 point and has
made higher highs
[11:19 am] sonorant : I wasn’t in the trade,
but I have a bunch of indicator lines right
where TNA bounced — yesterday’s close and
yesterday’s low
[11:20 am] topdogrex : anyone short on
NFLX
[11:21 am] sonorant : sadly ,no
[11:21 am] topdogrex : easy money on the
short side
[11:22 am] topdogrex : looks like is going
to 100
[11:23 am] candelas : lod GMCR
[11:23 am] mikewd2 -: i think the couple
analyst that said 60’s might be right
[11:23 am] shark : Wow! NFLX in such a rush
to get to my 100 short term range
[11:25 am] candelas : out 1/2 GMCR 92.79
[11:25 am] pow : AMSC coming into 5 min
support with good Stochastics[11:26 am]
mikewd2 -: stepped away and missed TNA
[11:27 am] candelas : stop b/e 91.57 last
1/2
[11:29 am] candelas : out 1/4 gmcr 92.93
[11:30 am] candelas : watching FMCN
[11:31 am] candelas : soda
[11:31 am] candelas : yea played bounce
[11:31 am] sonorant : So candelas, how were
you playing the GMCR? what did you see in
it? a small bounce in a trend?
[11:31 am] truck : in TNA 33.54,,out half
33.15
[11:33 am] candelas : stopped last 1/4 of
GMC 92.49
[11:33 am] mikewd2 -: how about 34.15?
[11:34 am] papadoc : TNA 33.5 out 34.1
[11:38 am] doji : Hey Shark that is copy
righted material… I was the first to place
my buy limit order in NFLX at 100!
[11:38 am] pow : Will get long TNA if breaks
34.55
[11:39 am] shark : sweeeeet!
[11:41 am] candelas : out 1/2 FMCN 20.77
[11:42 am] candelas : last 1/2
[11:42 am] candelas : stop b/e[11:42 am]
candelas : stoppd last 1/2 FMCN
[11:42 am] sonorant : I tried twice to get
in to FMCN and couldn’t get filled.
[11:44 am] trvlntrdr : it is interesting how
EDU did follow its competitors but lagged by
over 20 mins[11:45 am] candelas : out 1/2
short FMCN 20.31
[11:45 am] lightning : it’s not very
bright
[11:45 am] pow : anyone short NFLX at 126.5
this morning?
[11:47 am] trvlntrdr : I was thinking, if
EDU breaks res. at 23.85 should have good
upward movement until 24.80
[11:48 am] candelas : out 1/4 FMCN 20.21
[11:48 am] shark : I can buy me some good
shark meat!
[11:48 am] shark : NFLX short 1000 shares at
122ish
[11:48 am] sonorant : real money shark
[11:49 am] shark : went short 500 shares
AAPL at 400 also
[11:49 am] trvlntrdr : wow shark!
[11:50 am] lisas : looking at ticks and
$esinx[11:50 am] lisas : you may get it
today
[11:50 am] shark : in all fairness, I missed
the CMG short, though
[11:50 am] sonorant : ok — in TZA —
indicator for selling it? almost back up
to previous hod[11:51 am] candelas : out
last 1/4 FMCN 20.09
[11:51 am] candelas : thx Qwert[11:51 am]
sonorant : stochastics crossed on 1 min, but
not on 2 min
[11:52 am] shark : good time to
cover…going into end of day
[11:52 am] sonorant : uhhhhh just stopped
out on NFLX
[11:53 am] doji : It’s quite impressive how
the SPX open over 1% gains and it’s now
-0.86%
[11:53 am] shark : end of day profits on the
big one’s sonorant
[11:53 am] sonorant : explain?
[11:53 am] sonorant : oh — people covering
shorts?
[11:54 am] shark : big stock moves, yes,
sonorant
[11:54 am] shark : nflx…for sure
[11:54 am] sonorant : what are the big
ones?
[11:54 am] sonorant : you mean big
stocks?
[11:55 am] doji : Looking to enter S in NFLX
on thsi rebound…. will wait
[11:55 am] shark : anything over 10% is
bound to have some bounce or reversal at some
point
[11:55 am] sonorant : anything over 10%
what? 10% move?
[11:55 am] sonorant : so someone who has
been short all day decides to cover — except
that it is many, many someone’s and the price
goes up?
[11:56 am] shark : 10% PRICE move,
sonorant
[11:56 am] shark : thx for the alert
sonorant, hard to keep my “alert’s” all up to
the minute
[11:57 am] shark : NFLX looks like it wants
to continue bounce here
[11:58 am] candelas : fmcn bounced nicely
off support
[11:58 am] candelas : u get the bounce
Qwert[11:58 am] shark : 🙂
[11:58 am] shark : don’t count on much,
though
[11:58 am] sonorant : thanks for being
patient
[11:59 am] candelas : cool
[11:59 am] candelas : course never exact
[11:59 am] candelas : round # 20.03
[11:59 am] qwert : you betcha candles thx
[12:00 pm] pow : I missed entry o NFLX on 2
min chart
[12:00 pm] sonorant : also, chat room
communications are very easily misunderstood
— so it is always best to double check what
someone means.
[12:01 pm] candelas : that was like 3.5%
[12:01 pm] pow : The VIX has a daily
ascending triangle.
[12:01 pm] shark : should be another coming
soon, pow[12:01 pm] shark : the one’s to the
downside are better NFLX
[12:05 pm] candelas : hod FAZ
[12:06 pm] candelas : all out of long
[12:06 pm] candelas : think i trade it long
short then long
[12:06 pm] qwert : candles are u still in
with a piece of fmcn[12:06 pm] qwert : just
realized i still have a small piece
[12:07 pm] candelas : don’t take any strays
with u
[12:07 pm] candelas : i still have 1 share
of avav[12:07 pm] qwert : i know!
[12:08 pm] candelas : from waaaaay back
months ago
[12:08 pm] qwert : i only have 100
fmcn[12:09 pm] candelas : u got it
[12:09 pm] sonorant : 1 share?? for
Kris???
[12:10 pm] candelas : faz/fas[12:10 pm]
candelas : I just have charts side by
side
[12:10 pm] candelas : nice trade
[12:10 pm] qwert : lots more action later in
the day today love it
[12:10 pm] sonorant : got a piece of the FAZ
short — didn’t have time to switch to FAS.
Thanks candles.
[12:11 pm] candelas : understand
[12:11 pm] sonorant : I don’t have room for
both, have to switch. And I exited my 2nd
half too soon.
[12:12 pm] candelas : it was a give me, fas
was bottoming and Faz was at resis[12:12 pm]
candelas : of course i missed it
[12:12 pm] sonorant : no — you called
it…
[12:13 pm] candelas : sometimes best calls
are ones u miss right Joey?
[12:14 pm] candelas : yes maam[12:14 pm]
joeytsa : i think i called PCLN short off
the quad-top at $550
[12:14 pm] joeytsa : yeah no kidding….
[12:14 pm] sonorant : so the FAZ resistance
was previous day close and prev. day high?
[12:15 pm] sonorant : got it, thanks.
[12:16 pm] lisas : Will be interesting to
see if we get a bounce end of day or sel
off
[12:17 pm] candelas : thx for the alert
Joey,Lisa[12:17 pm] candelas : we are
suppose to be fam[12:17 pm] joeytsa : yeah,
i got out of TZA at 51.50
[12:17 pm] lisas : you’re so good we didn’t
think you needed alerts
[12:18 pm] candelas : ideas are great
[12:18 pm] joeytsa : feels like a family
[12:18 pm] joeytsa : sure are..it’s like
have 50 pairs of eyes
[12:18 pm] pow : MKing tna looks bearish
here to me. I will buy if breaks 34.55
area
[12:18 pm] shark : CMG bounced off the 100
day ma today
[12:19 pm] pow : The market feels like a
bull trap to me
[12:20 pm] joeytsa : i kind of have the same
feeling pow, but trying to avoid it in
affecting my daytrades[12:20 pm] sonorant :
isn’t there supposed to be “window dressing”
at the end of this week? What is that and
what will that do?
[12:20 pm] sonorant : yes it is!!!! What is
a bull trap pow?
[12:21 pm] doji : Any idea on how to make
$1K in the next 40 min
[12:21 pm] doji : lol[12:21 pm] pow : The
market trying to get you to buy so it can
reverse on you and take you down
[12:22 pm] joeytsa : LNKD alert
[12:22 pm] shark : tomorrow on weekly
options expiration doji[12:22 pm] sonorant :
candelas, did you pick the FMCN bottom off
the daily chart? you had it pretty much
dead on.
[12:23 pm] candelas : yes as well as the
round number 20
[12:23 pm] shark : you go, joeytsa, the
human alarm. just when I thought the machines
were taking over
[12:24 pm] qwert : candles you get
lnkd[12:24 pm] qwert : lnkd[12:24 pm] qwert
: no shares for short at lightspeed[12:25 pm]
candelas : i turned my head for sec and
missed my price
[12:25 pm] sonorant : no shares for me, and
I’m just sim! should have hit sell for
bid.
[12:25 pm] sonorant : oh…. thanks
[12:26 pm] joeytsa : i couldn’t get a short
off either..nice quick move though
[12:33 pm] joeytsa : market on a nice run
[12:33 pm] lisas : good volume as well
[12:34 pm] mikewd2 -: yes, 34.3
[12:34 pm] storage : anyone in tna[12:35 pm]
joeytsa : yeah storage 33.80
[12:35 pm] truck : was,,,not now
[12:36 pm] joeytsa : got out early…gotta
go soon
[12:36 pm] joeytsa : out TNA
[12:36 pm] mikewd2 -: out 35.08
[12:36 pm] truck : looking good Joey
[12:37 pm] joeytsa : nice mike…i took half
at 34.74, just under the prev close, the
other half at 35
[12:37 pm] pow : No i am not in….decided
to keep my profits for today. I have been
stopped out of tza over nite 3 days in a row
because of its 8 point swings
[12:38 pm] truck : up over 4% on this last
run…Must be a lot of short covering ?
[12:39 pm] joeytsa : thanks pow…could be
truck
[12:39 pm] storage : got out at 35 a little
early too
[12:39 pm] truck : lots of vol[12:40 pm]
joeytsa : I’m ok with just getting a piece
of the trend
[12:40 pm] mikewd2 -: resistance around
35.5’ish
[12:40 pm] truck : I see it
Mike,,,,agree,,,may not get thru it
[12:41 pm] joeytsa : all right, you traders
be safe…thanks for a great day, thanks
Mitch…see you all tomorrow !!!
[12:42 pm] truck : it is late,but TZA looks
good [12:42 pm] doji : TZA L 50.18
[12:43 pm] doji : Just need 5 minutes
[12:43 pm] truck : good entry doji[12:44 pm]
doji : Stop at breakeven in TZA
[12:45 pm] doji : Anyone taking NFLX home as
swing?
[12:45 pm] doji : Out at breakeven TZA
[12:46 pm] sonorant : long or short? it is
a little dicey either way at this point.
[12:47 pm] doji : I have my entry limit
order L at 100
[12:47 pm] doji : L
[12:47 pm] sonorant : is anyone else having
problems with ninja trader being sluggish?
[12:49 pm] lightning : I had a day of
bungled trades, but ended up a little in the
green. Up is up baby.
[12:49 pm] lightning : Thanks TSA and
everyone. See you tomorrow
[12:49 pm] mhaus : If that is slow or if the
data feed is slow, NT will be sluggish
[12:49 pm] mhaus : Sonorant, check your
internet connection
[12:49 pm] storage : mitch if you are there
thanks for all you teach us . i will keep
trying to learn from you. don’t give up on me
!
[12:50 pm] qwert : awesome day thanks for
all the great calls see ya in the am
[12:50 pm] sonorant : okay, thanks, good
point.
[12:52 pm] mikewd2 -: nice turnaround this
afternoon late
[12:56 pm] lisas : Candelas, you still
here?
[12:57 pm] candelas : yes
[12:58 pm] candelas : ask ur broker about
it, they do not publicize
[12:58 pm] candelas : underneath lot more
damage than indices show
[12:58 pm] lisas : when you are done
trading, did I see you post in the webinar
something about Tradestation free for life? I
checked website and didn’t see that, just the
2012 special.
[12:59 pm] candelas : it’s a plus say if u
go on sabbatical for 30 days,etc[12:59 pm]
candelas : just tell them u know about it
[01:01 pm] lisas : take a hanky Mitch
[01:01 pm] mhaus : Mitch, wish Kris on our
behalf
[01:01 pm] qwert : tell kris we all say a
prayer for him
[01:01 pm] shark : cool, awesome, Mitch!
[01:01 pm] sonorant : Is the wedding
today???
[01:01 pm] tennisball : Mitch, can’t thank
you enough.
[01:02 pm] lisas : Thanks Mitch, enjoy!
[01:02 pm] Mitch K: i think you have it right
qwert, we are praying, and the tears, well,
those are for uuh, well
[01:02 pm] sonorant : thank you Mitch.
great job holding the fort!
[01:03 pm] lisas : Candelas, so you get the
tradestation for life if you are going to
take a 30 day break?
[01:04 pm] lisas : Course I’m trading enough
now, the only fees are futures fees for the
most part
[01:04 pm] sonorant : Candelas, I am
intrigued by your comment about ‘damage
underneath’
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