[06:06 am] Ed : good morning traders
[06:25 am] Mitch K: hi guys and girls,
ladies
[06:26 am] Brent : good morning
[06:29 am] Kris : good morning traders
[06:29 am] Kris : let’s rock!
[06:29 am] Kris : time to make some money
[06:31 am] Kris : SODA long half
[06:31 am] Kris : watching ACOM for a
short
[06:31 am] Kris : watching LEAP for a long
[06:32 am] Kris : VLO short half
[06:33 am] Kris : watching APKT for a long
[06:34 am] Kris : NFLX pushed through
resistance
[06:38 am] Kris : watching DVN for a long
[06:39 am] Mitch K: REGN toppy, interesting
short, try 58.50
[06:39 am] Mitch K: watching MDT for short
[06:39 am] Mitch K: watching SINA for
short
[06:40 am] Kris : COST short half
[06:40 am] Kris : PANL short half
[06:40 am] Mitch K: watching PANL for bottom,
be patient
[06:41 am] Kris : NTAP short half
[06:41 am] Mitch K: watching ASNA for top to
short
[06:41 am] Mitch K: watching HCA for top to
short
[06:42 am] Kris : looking for a retest of hod
on SODA long
[06:42 am] Mitch K: watching GSM for
bottom
[06:42 am] Mitch K: watching KRO for a bounce
first, then a short on the top of that
bounce
[06:42 am] Mitch K: watching SPRD for bottom
to buy, be patient
[06:43 am] Kris : watching WYNN for a long
[06:43 am] Mitch K: watching to see if REGN
breaks below opening price of 57.75, if it
does, look at below
[06:44 am] Kris : SPY at support
[06:47 am] Brent : watching TRN for a
bounce
[06:47 am] Kris : watching ENDP for a long
[06:47 am] Kris : watching ITMN for a long
[06:48 am] Kris : coming into 50sma daily
support
[06:48 am] Kris : SPY trying to bounce off
126.50
[06:48 am] Kris : WMT nice chart for
reversal
[06:49 am] Kris : NFLX moving up into hod
resistance
[06:49 am] Kris : staying strong, look for a
new hod[06:50 am] Kris : long half WMT
[06:51 am] Kris : NFLX new hod[06:59 am]
Brent : consider reducing TRN
[07:01 am] Kris : out half COST short
[07:01 am] Kris : short second half PANL
[07:02 am] Mitch K: consider covering half of
SINA if short
[07:02 am] Mitch K: consider covering SPRD
soon if short
[07:03 am] Kris : looking for a new lod in
NTAP here
[07:03 am] Mitch K: consider covering HCA
[07:03 am] Mitch K: consider selling PANL if
long
[07:03 am] Mitch K: correction on SPRD, that
was consider selling SPRD if long
[07:08 am] Kris : out half NTAP short
[07:15 am] Brent : consider reducing more TRN
if still long
[07:17 am] Mitch K: for short in WTW
[07:17 am] Mitch K: watching for top in
WTW
[07:24 am] Kris : WTW looks like
institutional buying
[07:25 am] Kris : PCAR another example of a
mover that I won’t want to short
[07:29 am] Kris : see how it acts here
[07:29 am] Kris : SPY at hod resistance
[07:29 am] Mitch K: 2nd helping short in HCA
soon
[07:29 am] Mitch K: monitor PVH for top to
short, let it turn over first, could be a
while
[07:33 am] Kris : I’m looking for some
consolidation or a small pull back and then a
break to new highs
[07:33 am] Kris : starting to scan for more
long ideas
[07:34 am] Kris : the giveaway for me on WTW
was the steady volume and price. not
increasing enough with each candle and the
move was slow and steady.
[07:35 am] Kris : it will probably have some
correction but you’ll want to make sure it
breaks that trendline and it will be a slow
mover down
[07:36 am] Kris : watching RPM for a long
here soon
[07:37 am] Kris : YOKU breaking out
[07:39 am] Mitch K: watching for DNDN long
entry
[07:40 am] Mitch K: long entry on DNDN
[07:41 am] Kris : NGG short half
[07:47 am] Kris : VRTX strong
[07:50 am] Ed : SEMG
[07:50 am] Kris : out half NTAP short
[07:52 am] Ed : reduce SEMG
[07:52 am] Kris : WTW starting to come into
resistance area
[07:55 am] Ed : tank u King
[07:55 am] Kris : APKT new hod[07:55 am]
Mitch K: nice one Eddie Money
[07:56 am] Mitch K: DECK toppy
[08:01 am] Kris : standby, someone is gonna
pay me back here
[08:08 am] Ed : holding last 1/4 with stop @
b/e[08:08 am] Ed : reduce more SEMG
[08:13 am] Ed : tank u sir
[08:13 am] Kris : nice one on SEMG eddie
money
[08:20 am] Kris : CHRW breaking support
[08:24 am] Kris : SPY new hod[08:25 am] Kris
: A lot of trending stocks today
[08:48 am] Kris : NFLX new lod[09:12 am]
Mitch K: NFLX bouncing
[09:49 am] Brent : SPY new hod[09:55 am]
Mitch K: DSW looking for short
[10:08 am] Mitch K: you guys must be buying
designer shoes because DSW is hot
[10:23 am] Brent : SPY new hod again
[10:37 am] Mitch K: i figure you guys and
girls must be losing weight with WTW and
buying designer shoes
[10:37 am] Mitch K: looking for a long on
WTW
[10:39 am] Mitch K: indexes high of day
[11:21 am] Mitch K: DSW bouncing
[11:56 am] Ed : hod ACOM
[12:28 pm] Kris : could see a test of 130 in
the next couple days
[12:28 pm] Kris : SPY gonna close near the
highs again today
[12:28 pm] Kris : could see a test of 130 in
the next couple days
[12:48 pm] Brent : thx rusty, WPI alert
[12:59 pm] Brent : 1min left if you shorted
WPI
[12:59 pm] Brent : consider closing
[01:00 pm] Ed : good night traders
[01:02 pm] Kris : everyone have a great
night. see you all back here tomorrow
morning.
[01:02 pm] Kris : good job today
[01:04 pm] Brent : have a great night, see
you all tomorrow
|
[06:19 am] joeytsa : 1.8M less jobs in
america since start of ’09
[06:19 am] apple : thx joey, but aren’t more
people self-employed?
[06:19 am] joeytsa : sure hope so
[06:20 am] mikewd2 -: probably all day
traders
[06:20 am] apple : lol[06:20 am] joeytsa :
hopefully bad ones..they are the ones buying
what we are selling 🙂
[06:20 am] apple : i think people realized
there were many alternatives for earning a
living
[06:20 am] mhaus : watching DMND
[06:21 am] joeytsa : i think too many people
seriously miscalculated their futures
[06:21 am] apple : right, that was the
mindset of last century…
[06:21 am] joeytsa : yep, that SS would be
their life saver
[06:21 am] apple : silver is down
[06:24 am] apple : DNDN moved up quite a
bit
[06:26 am] joeytsa : JCP looking ugly too
[06:28 am] mikewd2 -: Dendreon reports Q4
revenue $82M vs. consensus $88.91M
[06:28 am] lightning : SODA, ACOM, PLCE look
nice
[06:29 am] lightning : and AEO
[06:29 am] doji : so DNDN reported lower
revenue but ist is up 20% today…????
[06:29 am] joeytsa : thanks mike..on that
news wonder why it jumped up earlier
[06:29 am] mikewd2 -: don’t understand either
doji[06:29 am] apple : just so you could
short it, doji[06:29 am] apple : right? did
you?
[06:29 am] doji : you read my mind Apple
[06:30 am] doji : NFLX moving up
[06:31 am] doji : SODA moving up
[06:31 am] observer : L Zagg 7.79
[06:33 am] sfarrill : ACOM
[06:33 am] rusty : CHE radar
[06:33 am] skydiver : watching ACOM
[06:34 am] shark : Euro new low against US
Dollar
[06:35 am] skydiver : S ACOM 26.69
[06:35 am] rusty : SOHU hod[06:35 am]
joeytsa : BIDU,CRM with a little strength
[06:35 am] doji : SPY reversing
[06:35 am] shark : GOOG hod[06:35 am]
joeytsa : will watch them
[06:36 am] doji : Missed rebound in APKT
[06:36 am] doji : Watching SODA
[06:37 am] apple : i wished i would have
only been watching SODA
[06:37 am] joeytsa : a few companies
lowering guidance
[06:38 am] shark : ACOM up 16%
[06:38 am] joeytsa : watching SINA for a
top
[06:38 am] mhaus : SINA
[06:38 am] doji : DNDN strong today
[06:39 am] rusty : TLT hod[06:39 am] joeytsa
: NFLX dancing today
[06:39 am] doji : DNDN resistance at 10?
[06:40 am] sfarrill : WMT
[06:41 am] doji : SPY lod[06:41 am] joeytsa
: lot of charts look alike to me so far
[06:41 am] apple : are they good?
[06:41 am] joeytsa : doji: overnight low on
the ES around 1261 area
[06:42 am] joeytsa : only if you bought low
and shorted high 🙂
[06:42 am] joeytsa : at least they are
making moves
[06:43 am] joeytsa : trail stop on SINA if
short
[06:43 am] skydiver : thanks for reminder
joey on SINA trail stop
[06:43 am] observer : Long Slw 29.88
[06:44 am] joeytsa : agree on REGN Mitch,
thanks
[06:44 am] shark : GMCR dropping
[06:44 am] joeytsa : here go the overnight
lows on the ES
[06:45 am] doji : SPY only red candles in
the last 8 min
[06:45 am] skydiver : spy
[06:45 am] doji : SPY only red candles in
the last 8 minutes
[06:45 am] rusty : RAM lod[06:46 am] joeytsa
: i have a couple green on my ES, but i use
ticks..but been trending down since just
after the job #
[06:46 am] doji : SPY still looks weak
[06:46 am] joeytsa : guess nobody believed
it?
[06:47 am] Kris : I use half second chart and
I see a couple greens too
[06:47 am] joeytsa : SINA with the beauty
upside down V
[06:47 am] joeytsa : hahaha[06:47 am] rusty
: covered 1/2 RAM
[06:47 am] joeytsa : will now be known as
the “flyin V” just like the guitar
[06:48 am] joeytsa : kris: I’m using 1m,
with short term tick and long-term tick,
578/2584
[06:49 am] doji : Big jump in NFLX
[06:49 am] apple : still holding from
yesterday, i am very happy
[06:49 am] rusty : RHT buyout rumors
[06:50 am] joeytsa : BIDU,CRM,SINA..all
playing nicely
[06:50 am] observer : adding to SLW
[06:51 am] skydiver : RHT – take over
chatter
[06:52 am] shark : DNDN busted thru $10
[06:52 am] shark : up 34%
[06:52 am] rusty : SHLD lod[06:53 am] gamou
: rht[06:53 am] skydiver : crazy ride on
NFLX
[06:55 am] rusty : starting to buy a few
SHLD into weakness
[06:55 am] rusty : contrarian swing trade
[06:56 am] joeytsa : makes sense rusty
[06:57 am] mikewd2 -: I’ve seen targets for
SHLD at 20
[06:57 am] mikewd2 -: but probably some for
100 also, lol[06:58 am] joeytsa : haha[06:58
am] mikewd2 -: FST keeps falling, help!
[06:58 am] joeytsa : MOS strong at the
moment
[06:59 am] apple : lol mike
[06:59 am] joeytsa : same with MON
[06:59 am] doji : DNDN continues moving
up
[06:59 am] shark : up 43%
[07:00 am] doji : Are you long Sharky?
[07:00 am] apple : are you L on DNDN,
doji[07:00 am] shark : no
[07:00 am] doji : I got a piece at 10.39
[07:00 am] joeytsa : mike: are you in
FST?
[07:00 am] doji : I also shorted NFLX on the
double top….
[07:01 am] skydiver : NFLX – you are very
good to us – 🙂
[07:01 am] shark : DIA testing lod[07:01 am]
skydiver : nice doji[07:03 am] doji : Nice
move on DNDN
[07:03 am] skydiver : all out of NFLX and
RHT
[07:03 am] doji : Double bottom in the
SPY
[07:04 am] doji : Is DNDN halted?
[07:04 am] joeytsa : CF hod[07:04 am]
skydiver : 5 trades – 5 wins 🙂
[07:04 am] joeytsa : yeah doji[07:04 am]
derns : DNDN does seem like it is
halted…51% jump
[07:05 am] skydiver : thnx apple – fun
day
[07:05 am] shark : YEAH!
[07:05 am] skydiver : I think shark is
happy
[07:05 am] lightning : yes, DNDN is
halted
[07:05 am] shark : frozen in stone
[07:05 am] doji : Yeah T7 code for DNDN
[07:05 am] joeytsa : so the economy is
rebounding..but chipmakers and now big box
retailers are lowering guidance?
[07:05 am] weston : dndn halted
[07:05 am] shark : (digital) stone
[07:06 am] mikewd2 -: joey, yeah i’m long on
lots of FST
[07:06 am] doji : I see quotes in DNDN from
12 on Bid to 1.85 on ask in in Level II…
[07:07 am] joeytsa : someone wants to sell
shares on DNDN around $54
[07:07 am] shark : Euro hitting new lows vs
US$
[07:07 am] apple : it used to be up there
[07:07 am] joeytsa : analyst?
[07:07 am] doji : I see your point Joey…
as more companies lower their guidance and
problems from EU continue coming, the market
will head south
[07:07 am] rusty : HGSI radar
[07:07 am] shark : was NEVER worth it
[07:08 am] qwert : wmt popped vwap[07:08 am]
apple : no
[07:08 am] doji : DNDN back
[07:08 am] joeytsa : i can see stores having
issues with online shopping…but it’s the
chipmakes that have me curious
[07:09 am] doji : Now the SPY rebounding
[07:09 am] shark : DNDN live chart on CNBC –
haha[07:10 am] apple : doji, are you S
DNDN?
[07:10 am] shark : breaking up trend DNDN
[07:10 am] doji : No Apple
[07:11 am] apple : i am not in it
[07:11 am] doji : still holding 1/2 DNDN at
be
[07:11 am] doji : closed 1st half after it
resumed trading
[07:11 am] shark : nice, doji[07:11 am]
joeytsa : another beautiful move on BIDU
[07:12 am] apple : nice one joey, i missed
that
[07:13 am] doji : BIDU double top Joey
[07:13 am] joeytsa : broke above the prev
cl, then held that support, moved above vwap
and held that..straight up to the pivot
[07:13 am] joeytsa : kind of looks like it
doji…gonna watch this move
[07:13 am] shark : ditto
[07:14 am] joeytsa : doji: remember with
pivots, it’s the 1st test that’s most
important, lots of times you will see some
kind of reversal on that 1st test
[07:14 am] shark : YES! Good point, joey
[07:15 am] shark : SPY moving up to hod
test
[07:15 am] joeytsa : combine them with the
TSA settings, vwap and prev cl and you get a
real nice look at support/resistance
[07:15 am] cowboyh : MOS looks like trending
up
[07:15 am] doji : I know Joey…. just was
making an observation on the price pattern…
I see resistance at 123.9
[07:16 am] shark : sure is, cowboy – MOS
[07:16 am] Brent : ITMN approaching hod.
Good call Kert[07:16 am] apple : nice one on
MOS
[07:17 am] joeytsa : cowboy: i think MOS
gave good guidance
[07:17 am] doji : DNDN making new highs…
still holding 2nd half
[07:17 am] observer : All out SLW , .30.14,
30.19, 30.24, 30.29
[07:17 am] joeytsa : thanks Mitch
[07:18 am] doji : CRM nice move, approaching
hod[07:18 am] joeytsa : love it doji[07:19
am] joeytsa : CF has been nice lately
[07:19 am] zentrader : HOT
[07:20 am] joeytsa : maybe a quick short
coming on CRM
[07:20 am] joeytsa : see if it holds or
breaks
[07:20 am] doji : Short WTW 60.05
[07:22 am] joeytsa : WTW holding strong at
the moment
[07:23 am] doji : You are right Joey, had a
tight stop
[07:23 am] mikewd2 -: doji, where’s your stop
on WTW?
[07:23 am] joeytsa : consolidation on lower
vol?
[07:24 am] apple : it didn’t look like it
was going to come right down and now there it
goes!
[07:24 am] mikewd2 -: no matter, stopped
[07:24 am] doji : It was 60.53 but got
stopped… my position was only 25% of my
usual trade Mike
[07:25 am] apple : tg doji[07:25 am] mikewd2
-: yeah i was light and stop at 60.52
[07:25 am] joeytsa : I’m with you kris[07:26
am] joeytsa : WTW has been above the 15ma
most of the morning
[07:27 am] mikewd2 -: oh well, had to get the
first actual traded lost of the year
[07:27 am] joeytsa : mostly above the 5ma
also, few touches below
[07:28 am] doji : For me too Mike….
[07:28 am] skydiver : stopped out on WTW
–
[07:28 am] doji : Thanks for the reminder on
the MA Joey… good point
[07:28 am] joeytsa : maybe a slight pullback
coming for WTW before move higher?
[07:29 am] observer : L ZSL 14.45
[07:30 am] mikewd2 -: i think Mitch told us
not to short a trending stock, funny how i
remember after the lost.
[07:30 am] skydiver : thnx mikewd2 – I
forgot about that as well
[07:30 am] joeytsa : at least you remembered
🙂
[07:31 am] doji : Me too….
[07:31 am] skydiver : I only remembered
after mikewd2 reminded us —
[07:31 am] joeytsa : yeah, much easier to
swim with the tide
[07:31 am] skydiver : 7 trades today – 5
wins, one loss and one break even
[07:32 am] doji : I see the key here volume;
WTW “consolidation” was with lower
volume…
[07:32 am] mikewd2 -: nice sky
[07:32 am] joeytsa : nice job
[07:32 am] doji : before it moved up
again
[07:32 am] joeytsa : very good doji[07:32
am] skydiver : thanks – that WTW caught me
— will review — thanks for info on it
doji[07:32 am] mikewd2 -: yep, your right
doji[07:32 am] joeytsa : esp on trending
stocks
[07:32 am] mikewd2 -: should have went long
at 60
[07:33 am] skydiver : yep joey – trending
stocks
[07:33 am] doji : so may I say ” don’t short
trending up stocks when it pauses or
‘consolidate’ with low volume”
[07:33 am] skydiver : thanks again doji –
need to burn that into my memory
[07:33 am] joeytsa : you can say it, but
there is always the one that still messes it
up haha[07:34 am] doji : Yeah, there is
always “one” but in general, they won’t
[07:34 am] joeytsa : i follow that rule
doji[07:34 am] doji : that is why we have
stops to minimize losses on the losers
[07:35 am] joeytsa : right kris..no
blowout/cleanup print
[07:35 am] joeytsa : the ES turned down,
looking for support
[07:36 am] doji : Thanks Kris, let’s monitor
WTW as use it as part of our education
stage
[07:37 am] joeytsa : taking profits on
WTW
[07:38 am] joeytsa : i got in late, but
don’t feel like i chased it
[07:38 am] mikewd2 -: got out YOKU at 16 with
nice profit – dang it
[07:41 am] doji : Long at 10.49 in DNDN
[07:44 am] observer : thx for DNDN, Mitch L
10.49, sold at 10.65
[07:45 am] skydiver : HANS – rumors
[07:46 am] rusty : GMCR radar
[07:46 am] doji : Observer, the indicators
in DNDN are still point up
[07:46 am] observer : You are right,
doji.
[07:47 am] observer : I was only looking at
the trendline, and should have held longer,
thx
[07:48 am] doji : Even in the trendline,
price never crossed the 5min MA…anyway,
it’s a lesson learnt
[07:48 am] observer : always much to learn,
doji, I appreciate the lesson
[07:49 am] doji : FSLR nice move today
[07:50 am] doji : I am closing 1/2 DNDN here
and trail my second half
[07:50 am] Kris : that’s a good plan
dojjy[07:51 am] mikewd2 -: SEMG discussed on
CNBC
[07:51 am] observer : right back to the
trendline on DNDN
[07:51 am] mikewd2 -: as WTW
[07:52 am] apple : good one on HOT,
zen[07:52 am] rusty : DECK radar
[07:56 am] apple : very nice on SEMG
[07:56 am] skydiver : yes – SEMG – great
call ED
[07:59 am] apple : looks like WTW ready for
another move up
[08:01 am] doji : WTW did it again… move
up with increased volume, kind of
“consolidate” in lower volume before it
resumed to move higher
[08:01 am] doji : resumed moving up at 62
[08:02 am] skydiver : Well, have fun all —
make lots of $$. Catch you again tomorrow
morning. Great day!!
[08:02 am] Ed : c ya sky
[08:02 am] skydiver : thanks again for the
great calls ED, Mitch, Kris, Brent, etc. etc.
etc. 🙂
[08:03 am] Kris : have a good one skydiver!
see you tomorrow
[08:03 am] doji : Watching WTW
[08:03 am] mikewd2 -: for short doji?
[08:04 am] mikewd2 -: i shorted at 63.00
[08:04 am] doji : Yes Mike…
[08:04 am] mikewd2 -: stop 63.22 very
tight
[08:05 am] richard : MCP
[08:05 am] doji : DECK is now moving down
[08:05 am] doji : Mike, just in case, I am
not short in WTW
[08:06 am] apple : are you short doji?
[08:06 am] doji : Neither in DECK
Apple…
[08:07 am] joeytsa : FXE in the 52wklow
area
[08:08 am] apple : there goes WTW again
[08:08 am] mikewd2 -: yep, second lost
[08:09 am] shark : yeah
[08:09 am] joeytsa : give WTW a few weeks
until people end their new years resolutions
🙂
[08:10 am] pow : SODA turning
[08:10 am] mikewd2 -: 64.35 next
resistance
[08:11 am] sfarrill : wtw rising on new year
resolution crowd
[08:11 am] mikewd2 -: PANL on the move
[08:11 am] joeytsa : makes sense except that
it started on a down note
[08:11 am] Kris : then we should short the
hell out of it
[08:11 am] Kris : you know how long new years
resolutions last
[08:11 am] Ed : 2 hours
[08:11 am] shark : a week?
[08:13 am] shark : LULU hod[08:14 am]
joeytsa : last 3 higher highs on WTW were on
neg div…just something to watch
[08:15 am] doji : WTW
[08:15 am] doji : Needs to break 63
[08:15 am] mikewd2 -: needs to break the
20ma
[08:16 am] joeytsa : i still use the 15ma,
do you find the 20ma better?
[08:16 am] mikewd2 -: i like it
[08:16 am] apple : i use the 20
[08:17 am] joeytsa : just got used to the
15, maybe will check it out
[08:17 am] doji : I use the 20
[08:19 am] apple : IDCC lod[08:19 am] doji
: NFLX approaching lod[08:20 am] apple :
right doji, FSLR hod[08:20 am] joeytsa :
Italy’s Unicredit with issues
[08:22 am] rusty : BAC hod[08:22 am] rusty
: Jan effect at work
[08:22 am] observer : incy new hod[08:23 am]
apple : ALXN trending
[08:24 am] shark : nice apple – ALXN
[08:25 am] observer : TPX also trending
[08:25 am] shark : LULU new hod on vol[08:25
am] sfarrill : ZUMZ
[08:29 am] mikewd2 -: Dendreon Provenge
acceleration a positive, says Goldman
[08:30 am] observer : TPX a short?
[08:31 am] Kris : TPX not a short for me
[08:31 am] Kris : not enough money coming
back into support
[08:31 am] Kris : and still looks to have
more upside
[08:32 am] mikewd2 -: WTW very close to next
major resistance
[08:32 am] mikewd2 -: out half PANL 33.05
[08:33 am] apple : late on ZUMZ
[08:35 am] rusty : market down and VIX
lod[08:35 am] rusty : hmmm
[08:36 am] rusty : divergence
[08:36 am] mikewd2 -: strange – yes?
[08:42 am] mikewd2 -: out 1/4 PANL 33.41
[08:43 am] apple : good job mike, missed
PANL
[08:43 am] mh : anyone have an opinion on
shld here
[08:43 am] mikewd2 -: SHLD scares me, lots of
analysis stating 20 target
[08:44 am] mikewd2 -: i think rusty swung
SHLD long, mh[08:44 am] apple : mike are you
S SHLD?
[08:44 am] mikewd2 -: no
[08:45 am] mikewd2 -: i was playing it long
for a while in the 35’s, glad i didn’t carry
it over
[08:45 am] apple : i’ll say
[08:45 am] mh : volume jump
[08:46 am] mikewd2 -: WFT hod, go baby go
[08:58 am] rusty : re SHLD no one was afraid
of buying it at 60 or 120 or 190
[08:58 am] rusty : but everyone afraid to
buy it at 30
[08:59 am] rusty : I love this stuff
[08:59 am] apple : it is great, isn’t it?
[09:00 am] rusty : Life is good
[09:00 am] rusty : AZO hod[09:00 am] rusty
: AZO brought to you by the same charlatans
as SHLD
[09:00 am] doji : Hey Rusty, the last time
SHLD was this low was back in Nov 2008 when
it hit 26.8
[09:00 am] rusty : but no one afraid of
buying AZO at the high of course
[09:01 am] rusty : at the highs everyone was
saying SHLD is valuable cause of its real
estate
[09:01 am] rusty : now no one mentions their
real estate
[09:03 am] doji : I guess people is waiting
for SHLD to hold 26.8 to jump in…. I’ll
monitor it also.. thanks for sharing your
thoughts
[09:03 am] apple : yes, thx
[09:05 am] apple : there goes WTW again
[09:12 am] victor51 : anyone got in long on
WTW
[09:12 am] mikewd2 -: in for my third short
try on WTW, it’s the charm!
[09:12 am] apple : no
[09:13 am] apple : good for you iron mike
[09:14 am] mikewd2 -: hopefully 64.35 isn’t
new support
[09:16 am] mikewd2 -: PANL new hod[09:16 am]
mikewd2 -: still trailing last 1/4
[09:16 am] shark : AAPL new hod[09:17 am]
mikewd2 -: AGQ new hod[09:17 am] apple :
great mike
[09:18 am] mikewd2 -: out AGQ 46.70
[09:19 am] mikewd2 -: WFT new hod[09:29 am]
joeytsa : shark: funny how AAPL looked weak
recently and now a 180
[09:30 am] shark : AAPL rolling
[09:30 am] shark : higher, higher
[09:34 am] shark : joey, are you trading any
options this year?
[09:34 am] joeytsa : i will be, not in any
right now
[09:34 am] shark : looking at some
weeklys?
[09:35 am] shark : GOOG new lod[09:36 am]
shark : GOOG dropping on vol[09:38 am]
mikewd2 -: discussing SHLD on CNBC
[09:38 am] mikewd2 -: short only 11%,
surprised a bit
[09:38 am] rusty : Greenberg is a shill
[09:40 am] rusty :
http://www.nasdaq.com/symbol/shld/short-inter
est SHLD short interest
[09:40 am] shark : just made 30% on my short
GOOG call weeklys – 8 min
[09:40 am] joeytsa : nice trade !!!
[09:41 am] shark : appx +$1300
guys/ladies
[09:41 am] shark : ka ching!
[09:41 am] shark : next….
[09:42 am] Ed : nice going shark
[09:42 am] shark : Thx, Ed, Joey!
[09:42 am] doji : Nice Sharky… it would be
nice if you share your ideas…. if you don’t
mind
[09:42 am] shark : haha[09:44 am] joeytsa :
GS quick spike up
[09:46 am] rusty : I am selling at least 1/3
to 1/2 of BAC swing today
[09:46 am] apple : both… nice on GS
joey
[09:47 am] shark : WAY TO GO, RUSTY!
[09:47 am] joeytsa : rusty with the $ $
[09:47 am] doji : Wow Rusty, BAC has been a
runner this year
[09:47 am] rusty : CNBC recommends short on
SHLD = bottom
[09:47 am] apple : haha, rusty, time to
buy!
[09:49 am] doji : So BAC just increased its
value in 25% since Dec 19th…. hard to
believe
[09:49 am] rusty : not hard to believe….
buy when everyone is selling
[09:50 am] rusty : and you will be laughing
when they are crying
[09:50 am] rusty : STD another one that can
be played like this
[09:51 am] doji : What I am saying Rusty is
that nothing has fundamentally changed in BAC
to have it now worth 25% higher….
[09:51 am] shark : LULU new hod[09:51 am]
joeytsa : just perception maybe
[09:51 am] rusty : right, it doesn’t have
to
[09:51 am] doji : It just the way the market
works
[09:52 am] rusty : nor did fundamentals
change when it went from 6 t0 4
[09:52 am] rusty : just perception
[09:52 am] joeytsa : which is why i got away
from fundamental
[09:52 am] doji : That is my point, juts
perception and once has too capitalize on
that…. buy when everyone is selling
[09:52 am] joeytsa : unless i plan to hold
something for a long time
[09:53 am] doji : I read somewhere that in
order to succeed in the maker you have to
have the 3B’s…. Brain, Bucks and Bal…..
you know that
[09:54 am] joeytsa : don’t need too much
brains..just enough
[09:54 am] shark : AAPL looks like short
term double top -1min chart
[09:56 am] joeytsa : apple: what do you use
as a scanner?
[09:57 am] joeytsa : CF moving
[09:57 am] apple : a couple hi/low etrade
and another on it
[09:58 am] mikewd2 -: is DSW a e-GAP?
[09:58 am] shark : DSW still looking
trendy
[09:58 am] joeytsa : gotya….you keep the
risers/fallers up on lightspeed?
[09:58 am] joeytsa : nice move on DSW
[09:58 am] shark : joey, you got your new
system fully up to speed?
[09:58 am] apple : yeah
[09:59 am] joeytsa : decent list to check
[09:59 am] joeytsa : yeah shark..loving
it
[09:59 am] joeytsa : pretty comfortable with
it now..at first it threw me haha[10:00 am]
shark : I need a software program where I
can press one button and the all charts and
graphs open up.
[10:00 am] joeytsa : now i leave it on my
one monitor so i can find it
[10:03 am] mikewd2 -: WTW on the move
again
[10:04 am] joeytsa : just a monster today
mike
[10:04 am] rusty : CNBC noticing BAC now
[10:04 am] joeytsa : so is buffett 🙂
[10:04 am] rusty : after advising shorting
it at 5
[10:04 am] shark : BAC looks weaker than
DSW, Mitch
[10:05 am] shark : even AAPL still trending
higher
[10:05 am] apple : too quick on the DSW –
reversed!
[10:05 am] shark : tons of trending stocks
this week
[10:05 am] shark : aaple[10:05 am] doji :
DSW and WTW keep moving up
[10:06 am] apple : i seem to have missed all
of them shark!
[10:06 am] joeytsa : sure are shark…mutual
funds?
[10:06 am] shark : I think they could last
another week as funds move money into new
positions
[10:06 am] joeytsa : good lesson to remember
next jan[10:06 am] mhaus : WTW new highs
[10:08 am] shark : PHM up 5.5% -almost 100%
in 3 months
[10:09 am] shark : I spent $300 there last
month, Mitch
[10:09 am] apple : i wished i would have
known that much earlier today!
[10:09 am] shark : you know, gotta have
designer tennis shoes
[10:09 am] joeytsa : new shoes for all of
the wtw weight loss
[10:09 am] doji : I agree with Shark… MF
are buying these stocks to rebalance their
portfolios and look better than they
performed in 2011
[10:10 am] shark : apple -if you look at the
daily on DSW -looks pretty good to continue
uptrend
[10:10 am] joeytsa : doji: plus you get jan
contributions etc[10:11 am] doji : Now NFLX
is also moving
[10:11 am] shark : DSW -highest daily vol
since Nov 30
[10:12 am] mhaus : SODA moving
[10:13 am] rusty : putting WFM on radar for
a swing short
[10:13 am] rusty : best to watch it end of
day
[10:13 am] shark : DECK, CROX following
trend with DSW
[10:15 am] rusty : Gartman bullish on gold
again
[10:15 am] rusty : Gartman said to short
gold lower, now he’s bullish higher
[10:16 am] joeytsa : he’s flexible
haha[10:16 am] yves : Are we watching DSW
for short? It is going higher and higher.
[10:16 am] rusty : flexible and a fraud
lol[10:16 am] doji : No Yves… the market
is too strong
[10:17 am] rusty :
http://business.financialpost.com/2012/01/05/
gartman-admits-he-made-a-blown-call-on-gold/<
br />
[10:17 am] yves : So we can’t short it.
[10:17 am] apple : yves, it reversed itself
earlier, look at the comments. MK and
everyone else said.
[10:17 am] joeytsa : again, that’s why i
stopped trying to “predict” things, and just
react
[10:17 am] mikewd2 -: you can yves, but i
shorted WTW 3 times and i’m 0 for 3
[10:18 am] victor51 : DSW is trending up
like WTW. May be WTW pushing designer work
out shoes from DSW…
[10:18 am] mikewd2 -: btw, i’m in my 4th
attempt on WTW now
[10:19 am] joeytsa : when WTW does crack, it
should give a nice profit
[10:19 am] victor51 : My hats off to Mike. i
tried twice and I am out
[10:19 am] mikewd2 -: haven’t lost that
much
[10:19 am] shark : SODA & Kraft, sounds
like cheese soda to me
[10:20 am] go4it : I’m waiting for the 3 min
macd to cross hope that won’t be too late
[10:21 am] mikewd2 -: fall baby fall
[10:22 am] khall : that’s right mikewd2
[10:22 am] doji : Keep pushing down
Mike….I am not in the trade but I am on
your side..
[10:22 am] apple : mike, you kill me!
[10:23 am] rusty : WTW candles showing signs
of topping
[10:23 am] mikewd2 -: one last gunslinger for
old times
[10:23 am] doji : Were you long in WTW
Apple?
[10:23 am] apple : no, i kept thinking about
it too long…
[10:23 am] rusty : pardon not WTW, i meant
DSW
[10:24 am] doji : DSW dropping
[10:28 am] apple : NFLX moving again
[10:29 am] mikewd2 -: can someone on TS tell
me how to select which shares to sell, ie
last in first out.
[10:29 am] mikewd2 -: can’t figure it out
[10:30 am] shark : sounds like a question
for the accountant, mikewd2
[10:30 am] shark : in general, if you hold a
stock for more than 1 year = long term
capital gains
[10:30 am] mikewd2 -: not the question
shark.
[10:30 am] shark : less than 1 year =short
term capital gains
[10:31 am] mikewd2 -: i often trade last in
first out, easy to select on etrade[10:31 am]
lisas : Mike, is this a day trade?
[10:31 am] mikewd2 -: can’t figure out how on
TS
[10:31 am] shark : CMG positive on day =new
hod[10:32 am] mikewd2 -: yes
[10:32 am] shark : DSW pulling back, testing
50 min ma
[10:33 am] lisas : I’ve never even thought
about it, I’m guessing you searched help. I’d
call them and talk to platform help
[10:33 am] mikewd2 -: will do
[10:36 am] rusty : re WFM swing
short….will look to enter 74+
[10:36 am] doji : Watch NFLX to break 80
[10:36 am] lisas : Mike, or ask the order
desk.
[10:37 am] mikewd2 -: come on down WTW
[10:38 am] doji : Time to close your short
in WTW Mike….?
[10:38 am] mikewd2 -: covered half WTW,
shorted 67.00
[10:38 am] doji : NFLX long 80.06
[10:39 am] doji : We just need some news
from EU to have nice shorts… hahaha[10:41
am] yves : Doji, NFLX long or short?
[10:41 am] apple : yves, he’s L
[10:42 am] yves : Thank you
[10:42 am] yves : Nice move Doji[10:43 am]
doji : Long Yves sorry
[10:44 am] doji : I am trailing my stop on
NFLX just in case it reverses very
quick…
[10:45 am] yves : How come you long Doji? I
was thinking of short.
[10:45 am] doji : Yves, the market is
trending up and 80 is a round resistance that
was broken with above average volume
[10:46 am] mikewd2 -: out 1/4 WTW 64.7
[10:46 am] mikewd2 -: tailing last 1/4
[10:46 am] mikewd2 -: 4th time short was the
charm! lol[10:47 am] Brent : nice rejection
off the 200ma on the WTW daily
[10:48 am] yves : We are looking for long in
WTW, right? Please let me know when ready.
[10:49 am] apple : thx MK, K, B, E and
everyone. i am leaving early today. all
have a wonderful evening.
[10:50 am] Brent : have a good night apple
[10:50 am] Kris : take care apple
[10:51 am] yves : WTW jumps up
[10:51 am] joeytsa : nice trade mike, told
you that when WTW cracked you would get a
nice profit
[10:51 am] mikewd2 -: yeah, up nice on this –
doubled my position on the 4th attempt
[10:52 am] joeytsa : gunslinger
[10:52 am] Brent : even Tebow completes the
long bomb once in awhile
[10:52 am] joeytsa : gotta pull the
trigger..at least that’s what elway says
[10:52 am] doji : You definitely have the 3
Bs Mike!
[10:52 am] doji : Good for you!
[10:53 am] mikewd2 -: needed the 4th bullet
today
[10:53 am] joeytsa : just a good trade,
broke the 15ma, tested it and all down from
there
[10:53 am] lisas : Looking at top of WTW,
looks just like Mitch talked about before
Christmas, got kind of choppy.
[10:54 am] joeytsa : large vol around
10:05pst might have been an early signal?
[10:55 am] doji : WFM reversing
[10:56 am] mikewd2 -: out WTW covered last
1/4 64.24 – lets go long now! haha[10:56 am]
joeytsa : the 1:05 for you lisa[10:56 am]
lisas : looks like you might get more
mike
[10:57 am] joeytsa : WTW just about back
down to where that last run up took off
from
[10:59 am] zentrader : IDCC
[11:01 am] yves : Any idea on WTW now?
[11:02 am] mikewd2 -: went long 64.25
[11:03 am] yves : Thanks mike
[11:04 am] mikewd2 -: right when the
stochastics broke the 20
[11:05 am] mikewd2 -: looking for only 1%,
going for quick trades
[11:05 am] lisas : good call on idcc zen,
too bad I missed it. Little slow today
[11:06 am] mikewd2 -: out WTW 65
[11:06 am] doji : You are on the money today
Mike!
[11:06 am] joeytsa : nice one mike
[11:07 am] mikewd2 -: hit that high bounce
[11:07 am] lisas : lol, you must have been
the market mike, looked how it crashed when
you sold
[11:08 am] mikewd2 -: yeah those 200 shares
big movers – haha[11:08 am] joeytsa : nice
call on IDCC zen !!!!
[11:08 am] mikewd2 -: wow, hope someone
shorted DSW
[11:09 am] lisas : I did, but sold on the
bounce, should have kept watching
[11:10 am] doji : I shorted it at 45.71 and
still holding it
[11:10 am] doji : I posted here when it
dropped just in case someone ask
[11:10 am] mikewd2 -: nice doji[11:11 am]
doji : but I missed WTW Mike… hahaha[11:11
am] rusty : SHLD nice bottom call by CNBC at
29
[11:11 am] doji : Didn’t they said short
SHLD? Shame on CNBC as usual
[11:12 am] rusty : yup, short at 29
[11:13 am] doji : hahaha… Rusty, you are
the man…. frycook[11:14 am] joeytsa : AMZN
hod[11:14 am] mikewd2 -: joey, are you short
CRM?
[11:14 am] joeytsa : no should i be..been
watching other stuff
[11:15 am] mikewd2 -: not necessarily, you
are just always on top that stock
[11:15 am] joeytsa : if it breaks below this
pivot, might fall $1
[11:15 am] joeytsa : yeah i usually do, was
focused on WTW,AMZN
[11:16 am] joeytsa : looks like a decent
r/r
[11:16 am] doji : SPY moving down..
[11:16 am] joeytsa : wished the stochs were
topping though
[11:17 am] mikewd2 -: WTW continues to
fall
[11:17 am] mikewd2 -: as DSW
[11:17 am] joeytsa : yeah that lower high on
WTW, nice signal
[11:17 am] joeytsa : just broke below vwap
too
[11:17 am] mikewd2 -: looking to go long
63.4’ish
[11:17 am] doji : My first target in DSW is
at VWAP @ 43.56
[11:18 am] doji : WTW at VWAP already
[11:18 am] doji : ey Mike, did you short WTW
after your long again?
[11:18 am] mikewd2 -: no, should have
[11:19 am] joeytsa : the short was the good
play, the long was the risky one 🙂
[11:19 am] mikewd2 -: just went long again
[11:19 am] joeytsa : both worked though
[11:19 am] doji : I did but very small
position… had to take revenge…
[11:19 am] doji : The SPY should help now
[11:21 am] doji : Come on SPY..
[11:21 am] mikewd2 -: push WTW
[11:23 am] joeytsa : be careful mike
[11:24 am] mikewd2 -: was thinking about
adding
[11:24 am] joeytsa : biggest candle on that
cons was red, needs to hold here for you
[11:24 am] mikewd2 -: but will hold off
[11:25 am] joeytsa : let the stock give you
a reason to add before you do
[11:28 am] doji : Indicators in WTW and DSW
still pointing down in 2min charts
[11:28 am] doji : and the SPY is giving them
a little push to the down side
[11:30 am] zentrader : ANR
[11:31 am] doji : nice short in WTW and
DSW
[11:36 am] joeytsa : lightning: much easier
on the eyes since i took off the
crosshairs
[11:37 am] joeytsa : you still get the time
below and price to the right
[11:37 am] mikewd2 -: CRM primed for another
drop?
[11:38 am] joeytsa : looks like it wants to
set up that way
[11:38 am] joeytsa : market weakness will
help
[11:38 am] mikewd2 -: i’m just watching not
in the trade
[11:38 am] mikewd2 -: on CRM
[11:38 am] mikewd2 -: still long WTW
[11:39 am] joeytsa : yes on CRM mike…i got
in when you brought it up earlier
[11:39 am] doji : I close halves of my shrt
positions in WTW and DSW… trailing the
second ones
[11:39 am] mikewd2 -: man, you should have
told me.
[11:39 am] mikewd2 -: haha – nice
[11:39 am] joeytsa : sorry was trying to
help you on WTW 🙂
[11:39 am] pow : mitch, stocks trending like
DSW would be nice to catch on the rise and
the fall. Can you add it to your service for
us to share these rising trending ones so we
can catch both sides?
[11:41 am] doji : WTW and DSW around over
38% retracement from the top
[11:41 am] doji : Next should be 50%
retracement or around???
[11:42 am] joeytsa : you follow fibs
doji?
[11:42 am] doji : I just follow the 38%, 50%
and 62% retracements on the big movers as a
reference to close my positions… just
that
[11:43 am] doji : and obviously the 20, 50
and 200 MA
[11:43 am] doji : and the VWAP
[11:43 am] joeytsa : CRM moved up and
touched me out
[11:43 am] joeytsa : right, do you have them
drawn on your charts?
[11:44 am] doji : No, I just make a quick
calculation and have them as reference….
[11:44 am] joeytsa : i feel like i have
enough lines on my charts…so i just eyeball
anything else
[11:44 am] joeytsa : oh ok
[11:45 am] khall : CEO of Sandridge on
Cramer tonight. Bet the stock pops tomorrow.
They are talking about what a great value
the company is
[11:46 am] joeytsa : best part of his show
are those interviews
[11:46 am] khall : I love those
interviews
[11:47 am] khall : of course, nobody is
going to get on there and say their company
is crap
[11:47 am] mikewd2 -: SD popping now
[11:48 am] joeytsa : no, but the market will
know
[11:49 am] joeytsa : thanks for CRM mike,
that first stop saved my profit
[11:50 am] mikewd2 -: good
[11:50 am] joeytsa : you still in WTW? a
little range bound rigth now
[11:50 am] mikewd2 -: yep
[11:51 am] mikewd2 -: stop just below the
1:31 low
[11:51 am] mikewd2 -: 1:34
[11:51 am] joeytsa : nice
[11:52 am] mikewd2 -: was looking for SINA to
break to the upside
[11:53 am] joeytsa : broke out a bit on that
hold of 52.78
[11:53 am] zentrader : WBMD
[11:54 am] mikewd2 -: big jump zen, didn’t
see news
[11:54 am] Ed : nice one zen[11:58 am]
mikewd2 -: WebMD shares move up after
Bloomberg says Yahoo! put asset on its “wish
list”
[11:59 am] rusty : for those risk tolerant
might be time to consider selling some naked
calls on CMG
[11:59 am] rusty : for a trade
[11:59 am] zentrader : yes, that was a sweet
one, anyone else get it?
[12:00 pm] qwert : small piece thx zen[12:04
pm] rusty : SHLD near hod[12:04 pm] rusty :
today’s candle on SHLD = hammer
[12:04 pm] rusty : with volume
[12:05 pm] rusty : have to see how it closes
to determine whether to add to position
[12:06 pm] mikewd2 -: added to WTW L 63.35
[12:06 pm] mikewd2 -: stops 63.10
[12:07 pm] joeytsa : yeah rusty, you do
really good work
[12:08 pm] doji : WTW and DSW frozen…
[12:08 pm] joeytsa : always looking further
out, not just a scalp
[12:10 pm] rusty : we got a good mix of
styles here
[12:10 pm] joeytsa : yeah, good to see other
things
[12:11 pm] rusty : i’m not always available
for the daytrade…so moved my time horizon
out a bit….funny part is you can use the
same techniques in swing vs daytrading[12:11
pm] doji : Thanks for the call in SHLD.
Although I didn’t take it long, the
experience is worth a million
[12:11 pm] doji : and as you I am only
available about 30% for day trading…
[12:12 pm] joeytsa : correct rusty
[12:12 pm] rusty : doji the difference
shorting a call v buying a put….buying a
put you can lose only the price you pay for
the put
[12:13 pm] rusty : shorting a call is like
shorting a stock….risk is theoretically
infinite
[12:13 pm] rusty : as if the stock goes
higher than the exercise price…you will be
short the stock
[12:14 pm] doji : I know that but why you
short a call instead of buying a put?
[12:14 pm] joeytsa : maybe to bring in some
cash?
[12:14 pm] rusty : sure…and to take
advantage of all the bullish premium
[12:14 pm] doji : No, why to take the
additional risk shorting the call
[12:15 pm] doji : Ah… got it know, it’s
the premium….
[12:15 pm] lisas : How many of you
experienced traders elect traders status for
taxes?
[12:15 pm] rusty : it’s risky and not for
the faint of heart of course….but
oftentimes that call will expire worthless
and you can collect the whole bullish
premium
[12:15 pm] rusty : exactly
[12:16 pm] joeytsa : rusty, have you tried
that with the weeklys[12:16 pm] doji : You
are the man Rusty… make sense, the higher
the profit the higher the risk
[12:16 pm] rusty : haven’t done much with
weeklys…except to study them
[12:16 pm] rusty : still learning daily
options
[12:16 pm] rusty : so much to learn there
[12:17 pm] joeytsa : lots to learn, but love
the quick turnaround
[12:17 pm] rusty : so when everyone is
bullish the calls have that nice premium and
you hope to collect it
[12:17 pm] doji : Excuse my ignorance in
options, I only know daily options. What is a
weekly besides its name?
[12:17 pm] joeytsa : followed them more a
while back, need to get back into them
[12:17 pm] rusty : I do the opposite with
trying to buy bottoms….sell the puts,
rather than buy calls
[12:17 pm] rusty : it’s all a question of
risk tolerance
[12:18 pm] joeytsa : right, good strategy
for earnings also
[12:18 pm] rusty : lisa, i use trader
status
[12:18 pm] rusty : also
http://www.traderstatus.com
[12:18 pm] rusty : lotta good info there
[12:18 pm] lisas : are options treated like
stocks or like futures?
[12:19 pm] lisas : Thanks for link
[12:19 pm] rusty : futures totally different
tax treatment…better than stocks
[12:19 pm] rusty : I believe
[12:20 pm] rusty : options are similar to
stock treatment iirc but I am not an expert
here
[12:21 pm] mikewd2 -: stopped on WTW, i’m
done with that one
[12:21 pm] lisas : yeah, I’ve been looking
at that, problem is I trade both, so it looks
like I hurt myself for trader status on
futures
[12:21 pm] tron111 : jva is moving up, is it
a good short term swing trade?
[12:22 pm] doji : You went long in WTW
Mike?
[12:22 pm] mikewd2 -: yeah
[12:22 pm] joeytsa : last i thought, futures
were split 60/40 between longterm/shorterm
gains
[12:22 pm] mikewd2 -: didn’t lose much,
overall big gain on WTW today
[12:22 pm] rusty : yes i believe that’s
correct
[12:22 pm] rusty : and people wonder why the
market is volatile
[12:22 pm] rusty : futures are one of the
reasons
[12:23 pm] rusty : especially with the
favorable tax treatment
[12:23 pm] doji : My next target is 62 in
WTW or 50% retracement… hope it will reach
there before the market close
[12:23 pm] joeytsa : not bad mike, only prob
was that you tried to buck the trend
[12:24 pm] mikewd2 -: your right joey
[12:24 pm] rusty : next time you see a
capitulation in a stock, either panic buying
or selling…take a look at the options…you
will learn a lot
[12:24 pm] joeytsa : both ways i think
right
[12:24 pm] rusty : and also learn to press
or leverage your better bets
[12:24 pm] rusty : rather than betting the
same on every hand so to speak
[12:24 pm] joeytsa : good point rusty
[12:25 pm] joeytsa : i usually lower my
shares if i am in a slump, and only press
when things are going well
[12:25 pm] joeytsa : i do the same at the
casinos
[12:25 pm] Ed : tron111, u speaking of day or
swing trade
[12:25 pm] rusty : e.g. I sold the FSLR 28
puts couple of weeks back for $2
[12:25 pm] doji : You mean, for instance,
like SHLD… you take it long and also short
outs, correct Rusty?
[12:26 pm] doji : short puts
[12:26 pm] victor51 : Mike, do you think
KodiaK will move with SD??
[12:26 pm] tron111 : jva for swing trade, to
hold for few days.
[12:27 pm] rusty : those FSLR puts I sold
for 2-2.40 now look at them
[12:27 pm] rusty : they will likely expire
worthless
[12:27 pm] doji : Hey Rusty, do you think
you can write me a couple of examples on this
discussion? I’ll appreciate a lot
[12:28 pm] rusty : FSLR a good example
[12:28 pm] Ed : it’s at a key spot, but I
never like idea of shorting into strong
buying
[12:29 pm] joeytsa : MELI quick spike up
[12:29 pm] rusty : I didn’t mind owning FSLR
at 26….so when it was trading at 30… sold
the 28 puts for $2+ – that got me into FSLR
long for a cost basis of less than $26
[12:30 pm] rusty : the $2 I collected in
premium reduced my basis
[12:30 pm] lisas : Rusty, do you need enough
in your account to actually purchase the
stock when you sell puts?
[12:31 pm] rusty : SHLD would be to sell
puts into extreme weakness
[12:31 pm] joeytsa : WTW down $5 from the
high
[12:32 pm] mikewd2 -: should have stayed with
the short!
[12:32 pm] rusty : lisa, not sure if you do,
but it would be advisable….as if you don’t
have that amount you probably shouldn’t be
shorting options anyway, much too risky
[12:32 pm] Ed : was speaking of daily, since
it is forming bullish engulfing pattern
[12:33 pm] lisas : Not planning on it
anytime soon, but learning options is on my
“to do” list for the year.
[12:33 pm] joeytsa : tons of things you can
do with options
[12:33 pm] lisas : I know they have
different requirements for what you have to
have in your account, but don’t know what is
what yet
[12:34 pm] joeytsa : butterflies,condors,
strangles etc[12:34 pm] doji : closing my
short in DSW and WTW
[12:34 pm] joeytsa : finally settled down to
just buying calls,puts[12:34 pm] mikewd2 -:
awesome job doji[12:35 pm] joeytsa : real
nice doji[12:35 pm] rusty : Even if you
don’t trade them it give you a good insight
into volatility
[12:35 pm] zentrader : S DNDN 10.56
[12:35 pm] joeytsa : rusty: you look at the
greeks?
[12:35 pm] rusty : and often gets you in or
out of a stock cheaper than buying or selling
the common
[12:36 pm] rusty : nah, closest to Greek I
do is feta cheese in my omelet. I try to
keep it basic
[12:36 pm] joeytsa : i only follow delta
[12:37 pm] chinhngo : joeyta delta from
option [12:37 pm] joeytsa : yes chinhngo:
the delta on an option
[12:37 pm] rusty : Next bullshort that Mitch
calls….we should look at the options if
they are available
[12:38 pm] joeytsa : i like deep itm
options, delta around 80
[12:38 pm] rusty : can make good $ as long
as you understand the risk
[12:38 pm] joeytsa : and not have to shell
out as much money
[12:38 pm] rusty : Lenny Dykstra (Cramer’s
favorite options player) liked Deep ITM
calls
[12:38 pm] joeytsa : 1000 shares of WTW
around $62k, 10 calls much cheaper 🙂
[12:39 pm] doji : Thanks Joey and Rusty for
sharing your thoughts
[12:39 pm] joeytsa : gives you some support,
esp around the 80 delta
[12:39 pm] joeytsa : you get most of the
upside, if stock drops you lose less
[12:40 pm] mikewd2 -: for longs, i tend to
buy deep in the money calls – to reduce the
time value premium
[12:40 pm] rusty : I am better at the
trotters than the flats
[12:40 pm] rusty : 🙂
[12:40 pm] joeytsa : I’m just average at
best at the trotter
[12:41 pm] rusty : I think the trotters give
you an edge in handicapping
[12:41 pm] joeytsa : mike: on swings, i
usually buy anywhere form 1-3months past my
“sell date”
[12:42 pm] mikewd2 -: rusty: you still have
VXX?
[12:42 pm] joeytsa : i getter more edge at
flats..more dummies playing haha[12:43 pm]
rusty : lol[12:43 pm] rusty : yes mike
[12:43 pm] rusty : about 1/4
[12:43 pm] mikewd2 -: WBMD bouncing again
[12:44 pm] mikewd2 -: was thinking about
getting back in
[12:44 pm] joeytsa : trail MELI if you got
in
[12:44 pm] mikewd2 -: VXX that is
[12:46 pm] rusty : I’m waiting to add
[12:46 pm] mikewd2 -: i will to, i’m out next
week
[12:46 pm] mikewd2 -: trying to reduce most
of my portfolio
[12:46 pm] rusty : I try to play VIX on the
extreme moves rather than in between
[12:46 pm] joeytsa : gonna take you awhile
when you have 3m shares of NFLX 🙂
[12:47 pm] rusty : lol[12:47 pm] mikewd2 -:
i haven’t touched NFLX in a while, lost to
much – again on wrong side of trend
[12:47 pm] mikewd2 -: i’m holding my big
positions, CJES, WFT, FST
[12:47 pm] rusty : when everyone gets
bullish on the VIX that’s the time to sell
it
[12:47 pm] rusty : and vice versa
[12:48 pm] rusty : WPI ALERT
[12:48 pm] rusty : WPI ALERT
[12:48 pm] joeytsa : thanks rusty
[12:51 pm] rusty : ESI radar
[12:54 pm] rusty : would really like CMG to
breakout to sell those calls
[12:58 pm] Ed : nice one rusty
[12:58 pm] joeytsa : another day of great
calls
[12:58 pm] joeytsa : nice call rusty on
WPI
[12:59 pm] lisas : got a little out of wpi,
thank!
[12:59 pm] qwert : wpi another drop in the
bucket thx rusty
[01:09 pm] rusty : JAZZ radar if anyone
around
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