[06:18 am] Kris : Good Morning Traders
[06:19 am] Kris : LH, MHS, WBMD, STZ, RT and
OVTI on the short side.
[06:19 am] Kris : Today I’m watching BMRN,
ATVI, LO, ZUMZ, IVN and MPEL on the long
side.
[06:24 am] Brent : good morning
[06:27 am] Kris : 3 Minutes to go. Time To
Rock!
[06:30 am] Kris : OVTI short half
[06:31 am] Kris : CELG short half
[06:31 am] Mitch K: watching SLB for short
[06:33 am] Mitch K: looking at MPEL for
short
[06:35 am] Kris : watching COST for a long,
support around 78.60
[06:36 am] Kris : RIMM short half
[06:38 am] Kris : SINA short half
[06:38 am] Mitch K: watching TOT for short
[06:45 am] Kris : FFIV long half
[06:45 am] Kris : SPY at trendline support
[06:46 am] Kris : looking for new lod in
SINA
[06:46 am] Kris : RIMM testing lod[06:46 am]
Kris : watching YOKU for a short
[06:46 am] Mitch K: consider reducing SLB
short
[06:48 am] Kris : out half RIMM short
[06:49 am] Kris : ROST looking strong, look
for a breakout to new hod, holding up against
the selling here.
[06:49 am] Kris : watching TNA for a long
[06:49 am] Mitch K: consider covering MPEL
9.25 area
[06:49 am] Mitch K: consider covering TOT
short
[06:49 am] Mitch K: monitoring MS for
bottom
[06:51 am] Mitch K: GE has same chart pattern
as MS, watching both for bottom
[06:51 am] Mitch K: watching ABC for
bottom
[06:53 am] Kris : out all RIMM short
[06:53 am] Mitch K: watching MCK for
bottom
[06:54 am] Kris : TNA long
[06:55 am] Kris : FFIV long second half
[06:59 am] Kris : same with MRVL, look for
new hod[06:59 am] Kris : watching MCP for a
long, strong against the market pullback
[06:59 am] Mitch K: consider reducing ABC
[06:59 am] Mitch K: consider reducing or
selling most of MCK long
[07:00 am] Mitch K: consider reducing MS
[07:01 am] Kris : MBI long half
[07:01 am] Kris : this bottom is just as
rocky as the last high in the SPY, acting a
little violent.
[07:01 am] Mitch K: MCK resurging up,
strong
[07:03 am] Mitch K: looking for bounce in
KSS
[07:05 am] Mitch K: watching IVN for short
soon
[07:06 am] Mitch K: try for 17.50+ on IVN
short
[07:07 am] Mitch K: GE bounce stuck, consider
closing
[07:07 am] Mitch K: MCK and ABC still strong,
market rebound helping
[07:07 am] Mitch K: MS also stuck too,
consider closing
[07:09 am] Kris : TZA coming into lod
support
[07:11 am] Kris : good job gary, yesterday
afternoon a big area of support in that area.
had to take some heat.
[07:11 am] Mitch K: don’t short the tops of
MCK and ABC
[07:12 am] Kris : I have another name for it
but this is a family show.
[07:12 am] Mitch K: consider reducing more
long of MCK
[07:13 am] Kris : it was exciting for a few
minutes mike, acting like it was flushing
stops
[07:13 am] Kris : out half FFIV long
[07:14 am] Kris : SPY trying to push
hod[07:15 am] Kris : needs to lose 20.00
mbear, then I like it to 19.40 area, weak
during this run in the SPY too.
[07:15 am] Mitch K: monitor SLB for another
short
[07:16 am] Kris : MBI consolidating, will
have to survive another round of selling then
could be good to the long side again.
[07:16 am] Mitch K: AMRN worth tiny short
[07:17 am] Kris : COST short half
[07:17 am] Mitch K: consider closing rest of
MCK
[07:17 am] Mitch K: consider reducing KSS
long
[07:18 am] Mitch K: consider closing
remaining ABC long
[07:19 am] Mitch K: let me just say this, if
you do short ABC and MCK, don’t expect a
straight down drop like we saw on the first
drop, its more of a process of “breaking
down” more gradually
[07:19 am] Mitch K: top sin MCK and ABC are
probably shortable, will take several
repeated scalps, “working it” short. will
explain this sometime
[07:20 am] Mitch K: SLB looks too strong to
short, new high of day
[07:21 am] Mitch K: watching WDR for short on
top of bounce
[07:22 am] Mitch K: micro trade short is
AA
[07:23 am] Kris : APKT has fleas
[07:25 am] Kris : TNA consolidating under hod
resistance
[07:26 am] Kris : same with MCP joey
[07:26 am] Mitch K: if any shorts don’t go
down much or get stuck, what we call
consolidation, then close short because mkt
is trying to move up
[07:27 am] Mitch K: ABC is example of
consolidation; MCK is acting correctly for
anyone who shorted it; AA is also acting
correctly for short as well
[07:28 am] Mitch K: ESRX long
[07:32 am] Kris : TNA trying to break
resistance
[07:33 am] Brent : SPY approaching hod[07:33
am] Kris : MBI near hod[07:38 am] Kris : I’m
flat, backing off to see how the next 15-20
minutes shape up, scanning for new setups.
[07:43 am] Kris : longs feeling like buying
today, see if they can make another high
[07:48 am] Mitch K: consider covering IVN
short here 16.75
[07:48 am] Mitch K: hey guys, I’m fighting
flu, I’ll try to be back later
[07:53 am] Kris : SPY coming into support
area
[07:56 am] Kris : I would get something more
real-time dano. Finviz is gonna be hard to
pull for the 3min fade scans.
[07:56 am] Kris : TNA heading for hod
resistance
[08:13 am] Brent : SPY looking to test hod
again
[08:30 am] Kris : yes qwert, holding the
50sma on the daily, weak against the market
today and 3 day support building. should
give a nice drop if it can break.
[08:31 am] Brent : SPY new hod[08:52 am] Kris
: TZA at trendline resistance
[09:05 am] Kris : need better volume on the
break junior, something to watch for next
time, when you get diminishing volume get
tight and or reduce. It was a good setup,
the market is just bouncing near support.
[09:32 am] Brent : SPY consolidating at
hod[09:34 am] Kris : sonorant, below 78.50, I
start with half and I monitor volume over the
first 3 minutes or so, if it’s lame I tighten
my stop.
[10:00 am] Brent : nice IRM monster
[10:29 am] Mitch K: some sort of small sell
program
[10:45 am] Mitch K: what i do this time of
day is often look at longer time intervals on
the chart, like 5 min on indexes
[10:52 am] Brent : SPY coming into trendline
resistance
[11:03 am] Kris : break time, I’ll be back in
30
[11:15 am] Brent : SPY testing hod[11:23 am]
Brent : SPY new hod[12:18 pm] Brent : have a
great night Joey
[12:43 pm] Brent : SPY new hod[01:00 pm]
Brent : have a great night everyone, see you
in the morning
[01:05 pm] Kris : good night everyone. see
you all tomorrow and we’ll close the week out
with another winner.
|
[05:58 am] joeytsa : sad about Steve
Jobs…i guess 1 man really can change the
world
[05:58 am] mikewd2 -: a bit surprised AAPL
didn’t sell off some
[05:59 am] candelas : ESRX getting bid
premarket
[06:00 am] candelas : if he had not made the
change at the helm it would have sold off
more
[06:00 am] joeytsa : candelas: ESRX is on my
short list of breakaway stocks too
[06:01 am] mikewd2 -: i’m going to be careful
next few days since Mitch says this is a
short term upswing
[06:01 am] shark : AAPL -an example of the
market factoring in poss conditions 9 months
down the road
[06:02 am] mikewd2 -: i still own some TNA in
the 28-29 range so looking to move in next
day or so
[06:05 am] joeytsa : reports: unemployment
claims came in at 401k, with 411k forecast
[06:17 am] joeytsa : gap
ups:ZUMZ,CMTL,ESRX,REGN,WYNN[06:18 am]
joeytsa : gap downs:YHOO,AAPL,HELE[06:28 am]
joeytsa : SLB getting some buying
[06:31 am] garyb : wow WYNN and LVS are
shooting up!
[06:31 am] mikewd2 -: my stops on TNA have
been pretty wide
[06:32 am] joeytsa : WYNN spread wide
[06:32 am] mikewd2 -: so wasn’t stopped on
TNA yesterday –
[06:33 am] joeytsa : AAPL moving
[06:33 am] junior : WYNN spiking
[06:33 am] mikewd2 -: well WYNN swing going
to work out!
[06:34 am] joeytsa : ESRX still running
!!
[06:34 am] joeytsa : tightening stop on
ESRX
[06:34 am] junior : WYNN spiking, LVS
dropping….go figure
[06:34 am] shark : amazing move, junior on
WYNN, yeah
[06:35 am] garyb : WYNN is rocking out!
[06:35 am] joeytsa : out ESRX 🙂
[06:35 am] mikewd2 -: garyb – going to take
the WYNN swing off – +13pts ain’t bad
[06:36 am] garyb : ok..I’m out 1/2 also
Mike
[06:37 am] anthonyb : still have 1/2
esrx[06:38 am] joeytsa : s ESRX 39.60
[06:40 am] garyb : raised swing stop on
LVS…if I get stopped out that’s 8%
gain….i’ll take it!
[06:41 am] joeytsa : all out ESRX
[06:41 am] skydiver : FSLR – take over
chatter
[06:42 am] joeytsa : WLT might be getting
toppy
[06:43 am] mikewd2 -: if market turns south,
WLT will follow
[06:44 am] joeytsa : out CMTL short
[06:45 am] joeytsa : MCP moving up
[06:46 am] anthonyb : WBMD
[06:47 am] anthonyb : LO moving up
[06:48 am] garyb : all out LVS swing…..8%
gain
[06:48 am] joeytsa : closed TZA for
25cent
[06:50 am] rusty : MERR halt
[06:50 am] skydiver : S SLB 62.27 – covered
61.33 – Thanks Mitch
[06:51 am] mikewd2 -: would have been a good
short on WLT, but hesitated
[06:54 am] garyb : tna 34.09 L
[06:54 am] garyb : tna reversing
[06:54 am] mhaus : WWD
[06:55 am] joeytsa : TNA long 34..tight
stop
[06:56 am] joeytsa : well that was fun
haha[06:57 am] truck : stopped TNA
[06:58 am] joeytsa : 6-1 today on stocks,
2-0 on the ES…not too bad
[06:58 am] mikewd2 -: 33.75
[06:58 am] mikewd2 -: TNA l 33.71
[06:58 am] skydiver : L TNA 33.80
[07:00 am] joeytsa : had REGN on my morning
list..missed a great move
[07:00 am] mikewd2 -: two nice calls Mitch
[07:01 am] skydiver : all out of TNA at
34.02
[07:02 am] rusty : MBI hod settlement talk
with banks
[07:03 am] skydiver : TNA got too bouncy but
hit my limit order — small change but in the
bucket
[07:04 am] garyb : tna is like a wild bull
in the calgary stampede!
[07:04 am] skydiver : kss[07:05 am] joeytsa
: AGCO might be setting up a small
breakout
[07:05 am] mikewd2 -: yep, in 34.01 and
33.75
[07:06 am] mikewd2 -: out half 34.35
[07:06 am] skydiver : Now TNA takes off
[07:07 am] garyb : tried a new
strategy…widened stop on TNA…..was
painful to watch the red but paid
off…patience
[07:08 am] electrader : L ABC 35.24 out 1/2
at 35.49 trailing remainder with stop
[07:08 am] mhaus : that’s the way to go with
TNA and TZA
[07:08 am] mikewd2 -: are you trading exit on
3min?
[07:08 am] shark : 3x as powerful as the
regular juice garyb, 3x stop flex TNA
[07:10 am] mikewd2 -: out TNA 34.71
[07:11 am] garyb : man but it’s painful to
watch if you buy too early
[07:11 am] mbear : FFIV awesome Kris
[07:11 am] mbear : Great calls Mitch ABC and
MCK, thanks!
[07:11 am] rusty : AA radar
[07:11 am] skydiver : Thanks for the great
lesson mikewd2 and garyb[07:12 am] frmendez67
: Mitch, thx i was long MS
[07:12 am] mbear : LVS swing trade looking
strong today also
[07:12 am] mikewd2 -: good call on TNA
Kris
[07:13 am] shark : AAPL hod[07:14 am]
joeytsa : AMZN hod[07:14 am] mbear : Kris –
do you think STZ may try to fill the gap the
rest of the day?
[07:14 am] pow : dang hod[07:14 am] rusty :
Pershing Square 12% stake in Alcoa
[07:15 am] joeytsa : BIDU hod[07:16 am]
garyb : out tna for 2% win
[07:16 am] joeytsa : APKT lod[07:16 am]
joeytsa : same with AGQ
[07:18 am] electrader : out ABC 36.12
[07:18 am] joeytsa : Mitch: monster call on
MCK…give yourself a raise 🙂
[07:18 am] mikewd2 -: trying not to see the
amount, just making good trades
[07:19 am] rusty : LO radar
[07:20 am] anthonyb : Alarm just went off
for ZUMZ
[07:20 am] garyb : I agree Mike
[07:20 am] rusty : AA hod[07:20 am] rusty :
FDA new study on tobacco use
[07:21 am] doji : My RDN at 1.89 is working
great so far….
[07:21 am] joeytsa : SLB was showing
strength pre-market also
[07:23 am] anthonyb : ES breakout Joey
[07:24 am] joeytsa : been watching it
anthony..been on a steady move up, but that
last high was on a lower macd[07:24 am]
joeytsa : sure does kris[07:24 am] rusty :
LO moving up fast
[07:24 am] rusty : LO radar
[07:25 am] joeytsa : AGU having a strong
day
[07:25 am] mhaus : NOV moving too
[07:26 am] joeytsa : yeah i see that
[07:27 am] mikewd2 -: WLT coming down hard
[07:28 am] joeytsa : CRM nice too, on
Mitch’s dsr list
[07:29 am] joeytsa : once that long swing
ends, it might set up a nice short swing
[07:30 am] mikewd2 -: APA hod[07:31 am]
mikewd2 -: natural gas inventories up
97BCF
[07:42 am] sonorant : candelas is truly
generous!
[07:44 am] Kris : had a couple beads early
but everything worked out both long and
short.
[07:44 am] shark : did you break a sweat
today, Kris? 🙂
[07:45 am] apple : yes, thx K, you are
terrific and generous, too!
[07:45 am] shark : 🙂 Thx for all that you
do!
[07:46 am] anthonyb : Guilty
[07:46 am] anthonyb : The webinar has really
helped me
[07:46 am] apple : yes
[07:46 am] Kris : anyone here actively trade
options?
[07:46 am] Kris : glad to see many of you
improving, especially since the webinar.
[07:46 am] Kris : I have an idea I want to
run by you
[07:46 am] Kris : would you guys mind
emailing me? [email protected]
[07:46 am] mbear : I do
[07:46 am] mikewd2 -: i do
[07:46 am] shailan : i do
[07:46 am] shark : I do
[07:47 am] anthonyb : OVTI moving down
[07:47 am] soccerfn : i do
[07:48 am] anthonyb : OVTI teasing me
[07:48 am] Kris : thanks guys, once it slows
down I’ll get back with you
[07:49 am] dano : thanks M for your work
[07:49 am] junior : take care of yourself
mitch, hope you feel better
[07:49 am] mhaus : have some soup, mitch.
Hope you feel well soon.
[07:49 am] observer : get some rest,
Mitch
[07:49 am] shark : Okay, Mitch. Get some
well deserved rest!
[07:49 am] skydiver : Yes, get better Mitch.
Great calls even while sick – amazing
[07:49 am] terry : get well mk[07:49 am]
trvlntrdr : take care mitch[07:50 am] apple
: take care of yourself,MK!
[07:50 am] lisas : Out last of ROST
[07:50 am] qwert : mitch thanks for ivn
trade awesome, praying for you i have been
fighting the flu all week
[07:51 am] lisas : Hey Mitch, get well!
[07:55 am] dano : using finviz for 3 min fd.
Looking for the filter that will give the 3+%
price move from consolidation (got from the
open)..any thoughts?
[07:56 am] Brent : finviz data might have too
much delay but you could try it dano[07:58
am] anthonyb : out 1/2 OTVI short
[07:58 am] dano : 10-4. So really pre / post
mkt[07:59 am] lightning : Dano, or you could
go with Trade-Ideas as a scanner for this
type of thing
[07:59 am] shark : Dano – FINVIZ has a real
time service – ELITE. Maybe that would
help.
[08:01 am] dano : …so much to learn. Head
up rear, have ST Elite and that has Trade
Ideas…duh. Trying to spin too many plates
at once and had blinders on with finviz. Stay
tuned 4 more TI questions I’m sure. Thnx
guys
[08:01 am] diadora : Anyone had experience
with Benzinga for news feed and analyst
[08:01 am] joeytsa : hey Mitch, hope you get
better, heard it in your voice last night on
the dsr report
[08:01 am] rusty : MCK radar, missed it
earlier
[08:03 am] joeytsa : agreed shark
[08:03 am] shark : All the R&D work you
guys do (Dano -others) is really helpful
here. I appreciate all the pieces everyone
adds here. i think it saves us all a little
bit of time.
[08:04 am] skydiver : Agreed — Thanks as
well. Really helping to speed up my learning
curve
[08:04 am] sonorant : Every body’s ideas are
wonderful — now if I could just learn to
trade. 😉 Actually in the black this
morning — that’s an improvement.
[08:05 am] dano : been stumbling and making
mistakes. Have stopped and reviewed. Now I’m
just gonna spin 1 plate at a time. Was
getting flustered and making bad decisions.
Now learn and watch charts to study S / R ,
pullbacks, price action, etc[08:05 am] lisas
: yes, really appreciate all the input from
everyone, learning as fast as I can,
lol[08:05 am] sonorant : I would be lost
without the ideas — there is so much to
learn
[08:06 am] candelas : Obama is speaking
[08:06 am] joeytsa : sometimes its
information overload
[08:06 am] lightning : “find my mojo” = make
better decisions
[08:06 am] lightning : Dano, sometimes that
is what you need to do. I’ve blundered the
last two days, so I’m paper trading today to
“find my mojo”.
[08:06 am] qwert : obama short
[08:06 am] skydiver : Time for shorting
then
[08:07 am] joeytsa : i missed a great trade
that i was prepared to take..had too many
other plates spinning
[08:08 am] dano : over trying amongst other
things. In addition to learning, having
platform issues, data streaming
issues…aarrgg. Waayyy too many things going
against me, so I just halted the train(wreck)
to review
[08:08 am] skydiver : I’m good for spinning
1/2 a plate at a time — got to run into the
office. Take care all.
[08:09 am] rusty : AA back to its 10dma
[08:09 am] skydiver : Been great so far!! 5
wins in a row! See you all later —
[08:10 am] rusty : LO cooperating
[08:12 am] terry : you guys are gonna make
me a good trader one of these days
[08:13 am] dano : roger that terry
[08:14 am] anthonyb : book em dano[08:14 am]
dano : anthony my man, that’s the
goal..lol[08:16 am] anthonyb : finally!
ZUMZ
[08:17 am] anthonyb : out 1/2 ZUMZ short
[08:23 am] qwert : they are all just riveted
with the speech
[08:23 am] shark : The buyers and believers
are mesmerized, the sellers are …..heck,
selling
[08:24 am] mikewd2 -: knew i should have gone
into TZA
[08:24 am] powertrade11 : the economy needs
certainty bottom line
[08:28 am] qwert : kris do you like cost for
short below 78.60
[08:30 am] qwert : never mind cost
[08:31 am] joeytsa : PCLN right on cue..hit
resistance and back down
[08:32 am] anthonyb : ok gang, I’m done.
Here’s to another good day. I hope everyone
else has the same. see you tomorrow
[08:32 am] Brent : have a good one
Anthonyb[08:33 am] anthonyb : by the way 5
for 6 today. with good trade management
[08:40 am] rusty : VIX back to its 50dma
[08:41 am] qwert : cost getting close to
lod[08:41 am] rusty :
http://my.jetscreenshot.com/demo/20111006-uyp
u-108kb.jpg
[08:43 am] doji : I my RDN bet is already
12.5% only today
[08:43 am] doji : The market is really
flying today!
[08:43 am] lightning : watching BAC for a
short, though would like it past 6.25
first
[08:45 am] doji : I ma now scare to take
longs as you never know how much they will
reverse, right?
[08:47 am] lightning : i agree
[08:47 am] rusty : not sure if I mentioned
them here
[08:47 am] rusty : selling BAC and C swings
into this strength
[08:54 am] dano : throttling back, gonna do
a jog and clear my head and review. Good day
everyone, may be back for day’s end.
[08:55 am] dano : ..and thanks again for the
tips and education
[08:57 am] junior : short COST 78.56
[09:01 am] doji : Watch out COST Junior
[09:02 am] junior : yeah, stopped out
[09:02 am] mikewd2 -: hard to short
successfully today
[09:06 am] junior : OK, thanks Kris, I will
watch for that
[09:07 am] apple : B – can you put up the
SPY chart, thx
[09:07 am] jsn13 : Maybe with trandline on
SPY chart…thanks….
[09:07 am] terry : apkt hod[09:08 am]
lightning : evidently APKT found flea
medicine
[09:12 am] jsn13 : SPy still can be
considered as holding the trendline?
[09:13 am] shark : SPY still decent -pull
back here, consolidating.
[09:17 am] sonorant : Kris, on that COST
break out (that wasn’t), how far below the
support line would you choose to short?
And was the lack of volume a deal breaker for
you?
[09:22 am] candelas : the fleabag APKT
hod[09:25 am] joeytsa : APKT been
interesting the past 2 days
[09:25 am] terry : FSLR turning up
[09:33 am] joeytsa : BIDU hod [09:32 am]
joeytsa : PPO hod [09:31 am] terry : KRO
turning over
[09:33 am] shark : NFLX hod[09:35 am]
joeytsa : SPX at 20d resistance
[09:36 am] qwert : bye everyone traveling
this afternoon see ya in the am thanks for
another good day
[09:36 am] sonorant : Thanks Kris, I’ll put
up the chart and look at it again.
[09:37 am] joeytsa : so geitner says US
banks are not at risk of failing
[09:38 am] candelas : they will be the
backstop for the major banks
[09:38 am] joeytsa : he looked confused
while talking
[09:38 am] Kris : well if geitner says so
[09:43 am] joeytsa : FSLR about 4 points
from 20d resistance, its been reversing each
time it gets there
[09:43 am] sonorant : Kris, so when COST
turned up, rather than continuing down, does
that make a high probability for a bounce
once it gets above the support/resistance?
[09:44 am] joeytsa : the last 3 bars( green)
have been on lower volume
[09:44 am] mikewd2 -: i was looking at it
[09:44 am] monster : anyone like tza here
[09:45 am] joeytsa : re: FSLR..that was on
the daily chart
[09:46 am] apple : that’s right
[09:47 am] joeytsa : mike/monster…i got a
TZA buy signal approx 44.95 on my ES chart
[09:47 am] mikewd2 -: TZA punching thru the
trend
[09:47 am] sonorant : what about shorting
COST for its downward trend back to the
support junior tried to short it from? It
has bounced up and off that line and returned
many times. Is on the downward slope now,
and market is down
[09:48 am] joeytsa : about 9:33ampst
[09:48 am] mikewd2 -: i’m going to pass on
this one
[09:49 am] sonorant : the other thing wrong
with that plan is the location of VWAP
[09:49 am] sonorant : well, what could be
wrong with that plan is the market turning
around…
[09:49 am] trvlntrdr : I don’t think Spy
will make it above HOD, MACD is negatively
divergent at last high
[09:52 am] joeytsa : FSLR lower highs
[09:54 am] joeytsa : for those holding
overnight tonight, don’t forget we have a job
report in the morning
[09:55 am] joeytsa : also..earnings kicks
off soon..should set up some decent swings
both ways
[09:56 am] joeytsa : have to play them
shorter-term in this market though
[09:57 am] mhaus : CBST may be worth a small
short soon [09:57 am] joeytsa :
DECK,CROX,BIDU all pre-announced better than
expected…looking to see some volume
increase on those b4 a play is in order
[09:57 am] terry : IOC crashing
[09:58 am] junior : I know… not supposed
to revenge trade, but short COST 79.25
getting some money back
[09:58 am] monster : irm[09:58 am] pow :
mako[10:00 am] victor51 : i have to run to
airport. will be back. Good luck
[10:01 am] Kris : thanks monster
[10:03 am] shark : AAPL looking like it
wants to go lower
[10:04 am] doji : SPY at support here
[10:06 am] shark : here goes AAPL …
[10:11 am] garyb : tna looks good on 2 &
3 min charts
[10:12 am] joeytsa : AGQ hod[10:12 am] mhaus
: FFIV
[10:16 am] mhaus : FNSR
[10:19 am] monster : irm not doing
anything
[10:19 am] rusty : OPTT radar…sorry little
late but worth watching
[10:20 am] shark : too low a volume stock
for me, rusty
[10:27 am] Brent : you can use a Kensington
USB adapter Lisas[10:27 am] lisas :
Question: I have to send my trading computer
back for warranty work. I have a pretty new
Dell laptop that I have an extra monitor on.
Can I hook up 3 more with some kind of
adapter?
[10:28 am] lisas : Hmmm, don’t know, how do
I find out?
[10:28 am] lisas : Thanks, I’m guessing
windows 7 will configure it once hooked
up?
[10:28 am] trvlntrdr : will the video card
support it Lisa
[10:30 am] sonorant : Mitch — on what?
IRM?
[10:30 am] trvlntrdr : I think you can look
at your hardware configuration in the system
tab
[10:30 am] trvlntrdr : Most likely it will
only support 2 monitors.
[10:32 am] trvlntrdr : I have macs but only
trade in the bootcamp [10:31 am] garyb :
anyone using a Mac? [10:30 am] trvlntrdr :
then look up the device and see
[10:32 am] trvlntrdr : My main trading
computer is a windows 7 machine
[10:33 am] garyb : nice think about mac is
the “SPaces” ..I have 6 desktops on 1
computer…and with my mouse wheel I can
switch from one to the other in a
flash…nice when you are on the go
[10:33 am] mhaus : Lisas, check this out
http://www.newegg.com/Product/Product.aspx?It
em=N82E16815242003
[10:34 am] Brent : I have a Mac that I run
windows on
[10:34 am] sonorant : a la Vans…?
[10:34 am] sonorant : What is the deal with
IRM? Do you think this will last exactly 42
minutes?
[10:35 am] garyb : Me too Brent…one of my
“Spaces” has Paralles running on it…window
7
[10:35 am] sonorant : Brent, are you trading
on a Mac?
[10:35 am] trvlntrdr : garyb do you like
parallel better than bootcamp?
[10:36 am] Brent : a mac computer, but it’s
running Windows
[10:36 am] garyb : I’ve never used
bootcamp..but Parellels is great. I had a
tradestation account and it ran their
platform really well
[10:36 am] lisas : trvlntrdr, I don’t see a
system “tab”, I can get into control, my
computer, etc.
[10:36 am] shark : little early on AAPL -but
added to my position on the pullback
[10:37 am] garyb : Now I don’t have the
tradestation…but any Windows program works
great
[10:37 am] lisas : I got into device
manager, but under video it just has audio
info
[10:37 am] lisas : windows 7
[10:37 am] trvlntrdr : lisa are you on mac
or windows
[10:38 am] lisas : I’m there
[10:38 am] trvlntrdr : hit device manager
[10:38 am] trvlntrdr : under control panel,
system icon
[10:39 am] lisas : ok, ati mobility radeon
hd 550v, so I go look up and see if that will
support 4, then I can buy adapter like
several mentioned?
[10:39 am] trvlntrdr : then I think it is
display adapter
[10:40 am] lisas : Thanks all, saw the link
mhaus 🙂
[10:40 am] shark : nice weeklies option
trade AAPL $350 put (Oct 7 expire) -so far
.12 to .34/contract
[10:40 am] trvlntrdr : If it supports 4 I
think you just need what Brent said
[10:41 am] Brent :
http://www.amazon.com/Kensington-Universal-Mu
lti-Display-Adapter-Black/dp/B002F9NSMQ/ref=s
r_1_1?ie=UTF8&qid=1317922852&
sr=8-1
[10:41 am] Brent : with this adapter, all you
need is a USB port
[10:41 am] lisas : thanks Brent!
[10:41 am] sonorant : Brent, Kris, —
thoughts on IRM?
[10:41 am] trvlntrdr : The one Mhaus pointed
out, I am not familiar with, if that upgrades
the processing you may be able to use it for
a regular 2 monitor device card
[10:42 am] lisas : I wondered when you typed
usb, that’s cool!
[10:43 am] mhaus : Lisas, I use 4 of these
connected to a USB hub
http://www.meritline.com/mygica-ushow-1080p-u
sb-graphic-adapter-dvi-output—p-42351.aspx<
br />
[10:43 am] rusty :
D4_eLN1KsCFZFU7Aod5GpxPw
[10:43 am] shailan : Lisas, I have this
Kensington adapter ,work perfect
[10:44 am] mhaus : so now you have a lot of
options 🙂
[10:44 am] trvlntrdr : Yes, lisas that is
what we were mentioning, it is an external
video card, pretty handy for traders
[10:45 am] garyb : Spy is dropping
[10:45 am] trvlntrdr : Brents device, –is
that the same as yours mhaus[10:46 am] doji
: Long USB
[10:46 am] rusty : CTXS radar
[10:46 am] trvlntrdr : garyb about
parallels, you dont need to re-boot the
device, right?
[10:47 am] garyb : no never..I run my mac
and parallels all at once…it’s amazing
[10:47 am] trvlntrdr : Boot camp works fine
but you have to re-boot
[10:48 am] garyb : don’t have to switch…in
one “Space” I have my PC…in the other
“Space” my mac…and I switch between them in
a flash – the thing about stock trading you
really need a PC for it..but parallels makes
it easy
[10:48 am] trvlntrdr : Mitch had a nice
overview of computer hard ware about 2 years
ago, I might be able to forward it if I can
find it.
[10:49 am] trvlntrdr : Garyb i might check
that out. I run my finance software on my
macs but it is in the windows section, have
to re-boot
[10:50 am] garyb : here is the website trv
http://www.parallels.com/ca/products/desktop/
[10:50 am] trvlntrdr : I ended up just
buying a trading windows system but
everything else is on a mac. like this I
using.
[10:50 am] trvlntrdr : I had trouble
before
[10:50 am] trvlntrdr : Thanks for the link I
heard of it but was leary of 3rd party
software for macs
[10:52 am] garyb : This works great….I
have had some minor issues here and
there…but nothing bad…plus I can tweak
it, have not bothered yet
[10:54 am] garyb : actually trvIntrdr the
USA site is http://www.parallels.com/
[10:56 am] rusty : great part of this
room….ask a question about anything and you
got lotta responses
[10:57 am] mikewd2 -: been playing with
etrade strategy scanners – it’s amazing all
the criteria you can scan with.
[10:58 am] lisas : etrade bumped me out of
pro, not trading enough.
[10:59 am] mikewd2 -: i still can’t decide
what platform to change [10:58 am] mikewd2 -:
they have been pretty good to me, they
lowered my commissions to 5.99 – fixing to
see if they will go lower
[10:59 am] trvlntrdr : It seems like there
is no reason to get rid of them completely,
mikewd.
[11:00 am] garyb : even that can add up
[11:00 am] mikewd2 -: i know they cost me
some money but it’s a nice platform that i’m
comfortable with
[11:00 am] mikewd2 -: with the speed keys
I’ve got pretty good with trades, etc.
[11:00 am] trvlntrdr : a lot of pros have
multiple accounts, use what is best at the
moment
[11:01 am] apple : i have my ira with etrade
and another smaller account – i love the
scanner, charts, etc. – actively daytrading –
no – way too slow and expensive
[11:01 am] mikewd2 -: APA breaking out to new
hod[11:01 am] trvlntrdr : you could use the
scanners and only do larger swing trades with
them
[11:02 am] mikewd2 -: expensive yes, not sure
about the speed – with the speed keys i can
execute a trade pretty quick.
[11:05 am] sonorant : So Mitch mentioned a
small sell program — does anyone know what
that is?
[11:07 am] lightning : I think he was
referring to an algorithmic trading program
used by hedge funds or trading departments of
investment banks that trigger either buys or
sells when a specific measurable set of facts
align.
[11:10 am] lightning : i think he was
talking about what was happening in the SPY
at that moment.
[11:10 am] sonorant : And is that what is up
with IRM?
[11:11 am] sonorant : Oh… thanks. So
what is up with IRM? It looks like that has
someone with a program set to sell small lots
every time someone wants to buy.
[11:12 am] lightning : it looks to me that
someone is trying to unload a bunch at 29.00,
which is why it can’t get through it.
[11:13 am] lightning : but I’m just
guessing. It looks like they are using a
non-visible limit order at 29.00
[11:13 am] sonorant : right, but slowly —
so as not to trash the price
[11:14 am] sonorant : ok, so non-visible
limit order? non-visible?
[11:15 am] lightning : on some platforms you
can choose to make limit orders completely
non-visible, partially non-visible or
completely visible. I know it sounds goofy,
but you can. And that’s to not scare off
potential investors on the other side
[11:15 am] trvlntrdr : yes some companies
can do that. IT is probably a mutual fund
[11:16 am] lightning : On Lightspeed, for
example, I can set up limit orders that way.
I always use visible because I’m not trying
to move tens of thousands of shares.
[11:16 am] sonorant : if the quantity is
large… sounds devious
[11:17 am] lightning : yes, that is why
Level 2 is useful but sometimes it isn’t an
accurate picture of what is really going
on.
[11:17 am] trvlntrdr : that is why level 2
isn’t as good as it used to be
[11:18 am] sonorant : fascinating.
Thanks.
[11:19 am] mhaus : Hey Lisas, forgot to
mention. You may get $20 off the USB-VGA
adapter from Meritline with this code
“MLC10B5N”
[11:19 am] trvlntrdr : think about it– 1
million share of irm traded around that
price.
[11:21 am] lisas : thanks mhaus!
[11:22 am] doji : Hey guys, keep all these
“secrets” for when I need help…will buy a
desktop in December… already in my list for
“Santa”
[11:22 am] trvlntrdr : get a lot of ram
[11:23 am] doji : 12MB minimum
[11:24 am] doji : SPY moving
[11:24 am] sonorant : trvintrdr — I am
thinking about it. I am also thinking that
anyone who viewed the chart would just walk
away and wait.
[11:24 am] trvlntrdr : I think mitch said he
has 32!
[11:25 am] sonorant : 32 MB of ram? That
is a LOT.
[11:25 am] trvlntrdr : sonorant I was just
making a comment– not for you to think–
just the fact that probably a couple firms
unloaded 20 mil $ worth of that stock at a
single price.
[11:28 am] sonorant : okay, I’m going to see
if I can get my hot keys to work on Ninja. I
thought I set them up, and then when I used
them, nothing happened.
[11:28 am] trvlntrdr : NT has preloaded hot
keys — did you use those?
[11:29 am] mikewd2 -: i think you have to
enable the use of hot keys also, at least you
do on etrade[11:29 am] sonorant : I’m going
to try those first, but I tried to make
custom ones for buying and selling
[11:30 am] mikewd2 -: was fully expecting a
big sell off towards the end of today.
[11:30 am] sonorant : the preloaded chart
ones work
[11:30 am] trvlntrdr : as I get more
experienced and get a faster data service,
then I will need to do what you are doing, as
Kris recommended
[11:30 am] trvlntrdr : I have only used the
preloaded ones
[11:31 am] sonorant : I may just be
hastening my demise.
[11:31 am] trvlntrdr : right now I can’t
make fast trades any way with IB data feed —
I am way behind in the am rush
[11:32 am] trvlntrdr : I lost a lot of money
on those lightning trades before I learned
that I could get faster data.
[11:33 am] trvlntrdr : So I am only sim
trading the first 1/2 hour
[11:35 am] sonorant : yes, early morning is
my worst time.
[11:36 am] trvlntrdr : I am going to check
out kinetick when I get the money
[11:39 am] garyb : yeh sonorant…I don’t
trade the open anymore as it’s my
weakness…I wait 20 minutes or so…watch
what’s going and ..prowl..and attack!
lol[11:39 am] sonorant : good, so I’m not
alone!
[11:40 am] candelas : practice and more
practice and study will help
[11:42 am] mikewd2 -: I agree garyb, that’s
what i’ve been doing also
[11:43 am] garyb : man it helps eh Mike
[11:43 am] mikewd2 -: yeah, i was taking a
couple quick trades – was head faked and
started off with a couple loses. Mindset then
was all wrong.
[11:44 am] garyb : I could not agree
more!
[11:44 am] garyb : Then you in the …gotta
make my money back mentality…no good
[11:44 am] sonorant : yes, hard to recover
then
[11:45 am] mikewd2 -: get back to even
[11:45 am] mikewd2 -: right, my number one
problem!
[11:46 am] garyb : I hear you…the old
revenge trading! danger….one guy from our
webinar..”Kevin” recommended an audio book to
me…it is simply amazing! It’s all about
keeping cool while trading! Incredible!
[11:46 am] mikewd2 -: i remember that
conversation
[11:47 am] doji : Guys, I agree with you
100%… once you start with a loss then it is
very difficult to change the mindset
[11:47 am] garyb : it was around $30 and is
making a big difference…
[11:47 am] joeytsa : revenge trading can be
dangerous to your wealth
[11:47 am] joeytsa : same with marrying a
stock
[11:47 am] junior : SPRD
[11:47 am] sonorant : IRM showing minor
signs of life.
[11:48 am] doji : I have improved 1000%
(thousand) if I wait 20min or more until the
indicators stabilize before I enter any
trade
[11:48 am] joeytsa : good plan doji…lots
of traders let the open settle into a trend
then go with that trend
[11:48 am] joeytsa : personally i love the
open
[11:48 am] sonorant : good to hear all of
this
[11:49 am] garyb : because you are a true
gap pro Joey! lol[11:49 am] garyb : I just
started that this week…….my trading is
much better
[11:49 am] joeytsa : they don’t all work
out, been working on something new with my
gaps
[11:49 am] joeytsa : yeah i wish
[11:49 am] mikewd2 -: now i still do a bit of
premarket trades
[11:50 am] joeytsa : as the markets change,
and as i gain more knowledge..i have had to
change
[11:50 am] joeytsa : my main focus to learn
is the middle part of the day
[11:50 am] joeytsa : still tweaking things
here and there…
[11:50 am] mikewd2 -: i’ve got to study the
webinar on gaps again. I’m just lost.
[11:50 am] mikewd2 -: when you get it joey,
send us a email of how to do it
[11:51 am] candelas : and the old saying
“don’t stay wrong long”
[11:51 am] candelas : the nice thing about
gaps is that it does not take long to figure
if ur on the right/wrong side
[11:52 am] candelas : i think sometimes
issue could be when 1 stays too long then it
turns to hope
[11:52 am] joeytsa : i used to use really
wide stops…trying to tighten them
[11:52 am] Kris : very true candelas, they
are either one way or the other, don’t see
too many gaps stay flat.
[11:52 am] mikewd2 -: need this market to
heat up, a bit bored.
[11:52 am] sonorant : good point candles
[11:53 am] garyb : it’s a bit of a gamble
though is it not? I mean right out of the
gate 9:30 am
[11:53 am] joeytsa : lot of gaps end up both
ways…can get 2 trades out of them, like
Mitch likes to do on his scalps
[11:53 am] Kris : 9:32 or 9:33
[11:53 am] Kris : some of them piddle a
little
[11:54 am] doji : The only “problem” is to
know on which side to be at the right time
[11:54 am] doji : with gaps
[11:54 am] joeytsa : markets have changed a
bit since i learned my gap strategy
[11:54 am] joeytsa : still have more
research/study to do
[11:54 am] Kris : I just set an alert
[11:55 am] mikewd2 -: that’s what i mentioned
sonorant – same as on etrade pro
[11:55 am] sonorant : okay, I had to enable
the order entry hot keys — just those —
they are special.
[11:56 am] candelas : what helped me get
over hump, is my mindset for gaps is “be
quick decisive” dont get caught flat
footed
[11:56 am] mikewd2 -: safety feature
[11:56 am] sonorant : yes, good call, you
were right. Had to resort to reading the
instructions.
[11:57 am] candelas : i recall the video of
Mitch’s dog starring
[11:57 am] garyb : I have a button on the
computer that yells “SELL SELL SELL” in
cramer’s voice! lol[11:57 am] joeytsa :
agreed candelas..when i learned, you
basically had to shoot first ask questions
later
[11:57 am] mhaus : SAN
[11:57 am] sonorant : plus, as you said your
homework — that magic list of yours. You
know what you are up to going in.
[11:58 am] candelas : i agree, ur using your
eyes and what you see and don’t allow urself
to think just act
[11:58 am] joeytsa : also why i used market
orders, still do in a fast mover
[11:58 am] joeytsa : old habit trying to
rid
[11:58 am] joeytsa : on gap ups, i always
entered on the open to hit the uptick or i
would miss the short
[11:59 am] candelas : ticker tape??
[11:59 am] joeytsa : back then i didn’t even
use indicators haha[11:59 am] joeytsa : i
saw gap up and thought auto-pilot short
[12:00 pm] garyb : How about the futures and
premarket data? When I see we are going to
open 200 points lower in the DOW I almost
expect a bounce? And vice versa…but it’s
not always the case
[12:00 pm] joeytsa : any stock gapping over
4 points was “in play”
[12:00 pm] joeytsa : i had a gap scanner and
cnbc…
[12:00 pm] joeytsa : this was late
90’s..lots of stocks gapped 4, 8, 12
points
[12:01 pm] joeytsa : honestly gary…i could
never figure futures out except how the
market would open…
[12:01 pm] joeytsa : i could never tell
which way it would go from there
[12:03 pm] candelas : I learned from Kris
that’s why it is good to have a list coming
into day of potential shorts/longs
[12:04 pm] candelas : it helps take any
guess work out of equation
[12:04 pm] joeytsa : have to be flexible
[12:04 pm] joeytsa : i am working on that
candelas…i still find my gaps 20 minutes b4
the open
[12:04 pm] Kris : the hardest days I’ve had
is when I was too biased one way or the other
coming into the session
[12:04 pm] Kris : the thing that has helped
me the most is staying flexible.
[12:05 pm] candelas : great wisdom Sir
Kris
[12:05 pm] Kris : another one will be along
in 15 minutes
[12:05 pm] Kris : if not, move on
[12:05 pm] Kris : recognize a bad spot and
see if the other side has enough money to
warrant a flip.
[12:05 pm] Kris : stocks are like buses
[12:05 pm] lightning : Oh, I thought you
meant smelly and late
[12:07 pm] candelas : MCP strong today,
missed it on nightly review
[12:07 pm] candelas : nice setup on daily
from yesterday
[12:07 pm] garyb : Yeh…I’m trying to be
too joey
[12:07 pm] joeytsa : i have learned to be
better at trade management
[12:07 pm] monster : mdr[12:08 pm] joeytsa
: heck, i used to use a cookie cutter
approach on gaps…
[12:08 pm] joeytsa : now at least i use
indicators
[12:09 pm] candelas : IRM woke up
[12:09 pm] joeytsa : 25/50 rule…stock
gapped 8 points, profit target was 4 points,
stop loss 2 points….
[12:09 pm] joeytsa : trying to incorporate
the tsa % approach, but i still see $’s
better
[12:09 pm] pow : AAPL is in a trending
triangle with breakout around 385.
[12:09 pm] sonorant : I choose something for
decrease price — Ctrl-Alt down arrow that
turned my entire screen upside down.
[12:10 pm] candelas : that’s a looong
rounded bottom
[12:10 pm] garyb : another last hour rally
perhaps? day 3?
[12:10 pm] joeytsa : re: DECK
earnings….might have a nice run if it can
bust the $105 area
[12:18 pm] joeytsa : gotta check out
early…good trading to everyone, see ya
tomorrow
[12:19 pm] joeytsa : thanks Brent, Kris,
Mitch..get well
[12:23 pm] mhaus : This is what I love about
this chat room. Everyone is willing to help,
no matter what the problem.
[12:24 pm] mhaus : MCP
[12:24 pm] sonorant : and after that, I am
still in the IRM trade, with a few
shares….
[12:26 pm] rusty : When Reagan was in office
we had Johnny Cash , Bob Hope and Steve Jobs.
With Obama we have no cash , no hope, and no
jobs [12:25 pm] candelas : take care, Im
gone to sons’ football game
[12:27 pm] mhaus : Good one, Rusty!
[12:29 pm] Brent : take care Candelas
[12:31 pm] victor51 : Brent, can you please
send me a link for mitch’s lesson yesterday
Thanks
[12:33 pm] doji : Markets moving at the
close again… this is great!
[12:34 pm] Brent : you mean two days ago
Victor?
[12:34 pm] doji : Just watching my swings
working right…
[12:35 pm] Brent : it’s in the documents
folder. Lower right of the Trading Room.
There is a pdf there.
[12:35 pm] victor51 : yes
[12:37 pm] Brent : if you don’t see it Victor
email me. [email protected]
[12:40 pm] victor51 : thanks Brent.
[12:44 pm] doji : I hope the unemployment
rate tomorrow (or Greece) don’t mess up this
rally
[12:44 pm] mikewd2 -: almost a 10 point run
in TNA in two days! what a turn around.
[12:45 pm] sonorant : doji — tomorrow is
Friday, that won’t help, will it?
[12:46 pm] lisas : I think equities are,
some futures are not
[12:46 pm] mikewd2 -: i think banks are
closed
[12:46 pm] mikewd2 -: TNA will not push thru
36.50
[12:46 pm] sonorant : guys is the market
open on MOnday? Columbus day on Tuesday the
11th? Some kind of notification about it in
Schwab
[12:49 pm] garyb : wow..that was a nail
biter with TNA
[12:50 pm] garyb : me too! I sold it!
Looked at time…thought it would fizzle
out
[12:50 pm] garyb : Mike are you in TNA?
[12:50 pm] mikewd2 -: i waited and waited for
a break thru
[12:50 pm] mikewd2 -: i was out 36.47
[12:50 pm] mikewd2 -: no, i’m all out now
[12:50 pm] mikewd2 -: now it punches thru
[12:51 pm] mikewd2 -: that would have been a
nice $250 bonus oh well
[12:52 pm] garyb : me too…that’s what I
meant…don’t always type well
[12:52 pm] garyb : same here ..you had 100
shares?
[12:52 pm] lisas : 3:40 has often been the
time of a move last few weeks
[12:52 pm] mikewd2 -: 1000
[12:52 pm] mikewd2 -: sold 36.47 – it went to
near .75
[12:53 pm] garyb : I sold at 36.41….made a
profit….but it popped now…and still
is!
[12:53 pm] mikewd2 -: getting close and i
believe Mitch is right we are heading back
down at some point
[12:54 pm] garyb : almost want it
too…..set us up again for some nice
longs
[12:54 pm] lisas : I sold some earlier as
well, tried getting in a couple times with
small lots, had resting orders for this move
to add. Sold my swings with good profit,
wishing I hadn’t but I guess that’s the way
it goes
[12:54 pm] mikewd2 -: yeah, I need to reload
tna at 26-28 again
[12:55 pm] garyb : at some point we will get
a good rally in my humble opinion…so it
would be nice Mike at 26
[12:56 pm] lisas : pretty strong finish just
before major report, wonder if someone knows
something, or thinks they do. Will be
interesting tomorrow.
[12:57 pm] garyb : that’s for sure
LisaS…..I share your frustration
though…but the way I see it, I try to be
green all the time….even if it’s smaller
but I’m thankful to get a good ride once in a
while…market is tough
[12:58 pm] garyb : Have a great night
everyone….my tee time is in 1 hour!
Foooooreee!
[12:59 pm] doji : Bye guys, no trading
today, just watched my swings to move
upwards….
[12:59 pm] lisas : bonds sinking
[01:01 pm] lisas : nite all, thanks Mitch,
Kris, Brent and all!
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