| (05:41 am) JoeyTSA :early gap up:
BMRN,SGOC,SSYS,DE
(05:41 am) JoeyTSA :early gap down:
DWRE,SSW,LOW,TSLA
(06:24 am) JoeyTSA :keeping DVN on radar
(06:30 am) Ed :eye on Solars SCTy FSLR CSIQ
(06:30 am) JoeyTSA :home sales report top of
the hour
(06:30 am) JoeyTSA :eye on LEN
(06:31 am) Ed :ICLD monitoring for potential
long, but would like more selling first
(06:32 am) JoeyTSA :eye on NFLX pullback
(06:32 am) Ed :oppportune if could get
selling @near 12 level on ICLD
(06:33 am) JoeyTSA :eye on CRM
(06:33 am) Ed :Diosna my asst. is out today,
so wil not be able to change charts in room
as often, as computer is to my extreeeme
right
(06:34 am) JoeyTSA :/ES testing 1790 again
(06:35 am) JoeyTSA :GMCR on watch
(06:36 am) Ed :LULU has room to run if wants,
keep eye on potential resistance 69 then 70
level
(06:39 am) JoeyTSA :/ES slight pullback to
pp
(06:40 am) Ed :DTV monitoring for potential
long would like selling @near 63ish level
(06:41 am) Mitch King:watching ETE for top to
short
(06:41 am) JoeyTSA :VJET nice pullback
(06:42 am) Ed :SCTY monitoring, would like
test @near 46.72 level see how price reacts
(06:42 am) Mitch King:watching NUGT
(06:42 am) Mitch King:monitoring MAS
(06:43 am) Mitch King:watching DDD for
bottom
(06:43 am) Mitch King:watching BA
(06:43 am) Ed :SCTY is for potential long
(06:44 am) Mitch King:watching SJM for short
on top of bounce
(06:44 am) JoeyTSA :2nd test of pp support on
/ES
(06:44 am) Mitch King:monitoring DVN
(06:44 am) Mitch King:monitoring ADT for
bottom, missed top
(06:45 am) Mitch King:monitoring BMRN for
possible short, no hurry
(06:46 am) JoeyTSA :/CL testing pp support
now
(06:46 am) Mitch King:monitoring DKS
(06:47 am) Murano :watching ADT
(06:47 am) Mitch King:watching GME for
bottom, no hurry
(06:48 am) Mitch King:monitoring ETN
(06:49 am) Mitch King:IPCI moving
(06:50 am) Mitch King:still watching DDD for
bottom to buy
(06:52 am) Mitch King:looking for small
bounce in CL
(06:54 am) Mitch King:watching SSYS for
bottom
(06:54 am) JoeyTSA :2 reports out in 5min
(06:56 am) Mitch King:watching TS for bottom,
no hurry
(06:57 am) Mitch King:monitoring PRLB
(07:00 am) Ed :*(US) OCT EXISTING HOME SALES:
5.12M V 5.14ME Prior revised XXX from 5.29M
to M
(07:00 am) Ed :US) SEPT BUSINESS INVENTORIES:
0.6% V 0.3%E revised higher from 0.3% to
0.4%
(07:04 am) Mitch King:watching ADT for
bounce
(07:08 am) JoeyTSA :DDD another weak one so
far
(07:12 am) Mitch King:remember on these big
trends, like downtrend in CL, don’t try to
pick bottom. if you do decide to buy, your
profit targets are really small.
(07:13 am) Mitch King:its best to wait for a
leveling out of a downtrend and see price
move up off bottom, then take next bottom
(07:14 am) Mitch King:IPCI bottoming here,
low priced stock
(07:15 am) Mitch King:watching NOAH again
today, looking for bottom
(07:16 am) Ed :if anyone took long on SCTY
would reduce
(07:16 am) Mitch King:regarding this
downtrend in CL, you dont have a confirmed
reversal in trend until a new bounce is
higher highs than previous top
(07:20 am) Ed :gettting pop based on news out
of Europe
(07:21 am) Ed :(EU) ECB said to be
considering a -0.1% deposit rate if more
easing is needed-
(07:22 am) JoeyTSA :large red vol candle on
Z
(07:26 am) JoeyTSA :crude inv in 3 min
(07:27 am) JoeyTSA :close eye on ETE again
(07:30 am) Ed :*(US) DOE CRUDE: +380K V +1ME;
GASOLINE: -345K V 0ME; DISTILLATE: -4.75M V
-0.5ME Utilization rate: % v 89.3%e
Distillate demand K to 3.xxM bpd Gasoline
demand K to 9.xxM bpd
(07:37 am) Mitch King:double top on CL 01-14
(08:08 am) Mitch King:watching TTS closer
(08:13 am) JoeyTSA :tighten QCOR if short
(08:17 am) Ed :QCOM having analysy day
(08:29 am) JoeyTSA :eye on VRTX
(08:30 am) Mitch King:got sell signal on
Thunder 2, late post, sorry about that
(08:31 am) JoeyTSA :also watching CLVS
(08:38 am) JoeyTSA :eye on TSLA
(08:54 am) JoeyTSA :tighten VRTX if short
(09:07 am) Ed :PM just monitoring right now,
would like more selling for setup
(09:09 am) Ed :DDD 3D printing names
experiencing weakness following cautious
comments by CNBC Guest (related ONVO –
(09:12 am) JoeyTSA :PM dropping
(09:12 am) Murano :watching MM
(09:13 am) Ed :PM Revises FY13 EPS guidance
to $5.37-5.42 v $5.39e (prior $5.35-5.40),
citing FX impact; guides initial FY14 EPS
+6-8% y/y – filing
(09:21 am) Ed :reducing 3/4 PM long
(09:22 am) Ed :trail last 1/4 PM long 89.31
(09:32 am) Ed :VJET/XONe just monitoring see
if get acclerated vol/selling
(09:33 am) Ed :so far stair step down
(09:39 am) Ed :VJET Citron Research makes
cautious comments (timing uncertain)
(09:40 am) Ed :if ur new to trading or
inconsistent I would not trade VJET
(09:46 am) Qwert :VJET selling picking up
(09:55 am) Murano :watching P
(09:56 am) Ed 😛 Albert Fried & Co. Cuts
P to Underweight from Market Perform, price
target: $23 (timing uncertain)-
(09:56 am) Ed :ELLI Hearing weakness
attributed to cautious commentary in an
M&A Blog-
(09:56 am) JoeyTSA :eye on DDD
(10:04 am) Ed’s assistant :Monitoring BGS
(10:15 am) Mitch King:looking for CL 1-14 to
drop, short at 93.98
(10:15 am) Ed’s assistant :PASSING ON BGS NO
VOL
(10:23 am) Ed :solars selling hard
(10:25 am) Ed :SPY nearing lod
(10:25 am) Ed :selling picked up in markets
(10:28 am) Mitch King:short term traders
consider covering CL but should break down
more
(10:43 am) Ed :US) Preview: Minutes of the
Oct 29-30 FOMC meeting due out at 14:00ET
(11:00 am) Ed :14:00 *(US) MINUTES OF THE OCT
30 FOMC MEETING:OFFICIALS WEIGHING TRIMMING
PUIRCHASES BEFORE OUTLOOK IMPROVES,
CONSIDERING EQUAL CUTS TO MBS AND TREASURY
PURCHASES –
(11:00 am) JoeyTSA :quick drop
(11:06 am) JoeyTSA :watching SSYS also
(11:14 am) Ed :SPY low of day
(11:24 am) JoeyTSA :tighten SSYS if you took
it long
(11:34 am) JoeyTSA :DVN lots of vol past
10-15 minutes
(11:35 am) Ed :DVN Said to be nearing deal to
purchase privately held GeoSouthern Energy
for $6B – press
(11:40 am) JoeyTSA :/ES testing S1 again
(12:04 pm) JoeyTSA :/ES trying to hold 1777
now
(12:16 pm) JoeyTSA :eye on TTS
(12:38 pm) Ed :4938.TW Said to have seen
orders from Apple fall by over 50% and was
asked to return some production equipment
amid weaker than expected sales of iPhone 5c
– DigiTimes (update) (related AAPL )-
(12:40 pm) Ed :US) President Obama: Health
law rollout has been rough, Washington must
stop governing by crisis – WSJ meeting-
(12:56 pm) Ed :have great eve traders
(12:59 pm) Ed :have great eve traders
| (05:31 am) Qwert :Good morning to everyone
(05:32 am) JoeyTSA :Good morning everyone
(05:33 am) JoeyTSA :some reports just came
out, gave slight bounce
(05:33 am) JoeyTSA :existing home sales,
business inv @ 7pdt, crude inv 7:30pdt, fomc
minutes @ 11pdt
(05:50 am) skydiver :gm all
(05:50 am) Murano :good morning
(05:52 am) skydiver :nice upward move on
CL
(05:53 am) skydiver :thnx for gappers joey
(05:58 am) skydiver :short CL 94.27 – this
may a small dip ? will see
(05:59 am) skydiver :I jumped in to this
trade a bit early I think on CL
(06:02 am) skydiver :with the indicators so
high on Thunder at bottom – should have
heeded those
(06:02 am) skydiver :on CL
(06:03 am) JoeyTSA :eye on /ES 1790 level
(06:05 am) taco :sky, i’ve noticed in /cl
and /gc the moves come in 3’s, sometimes also
insurfing the biggest wave is third of a set
of three. just something i’ve noticed
(06:05 am) skydiver :thnx Taco — good eye
on CL movements 🙂
(06:06 am) JoeyTSA :like elliot wave-type
moves?
(06:06 am) taco :then i think odds shift to
short better, but i’m still putting things
together so take w grain of salt
(06:06 am) skydiver :understood taco — but
interesting
(06:06 am) taco :perhaps, not sure of
elliot
(06:06 am) JoeyTSA :oh ok
(06:06 am) taco :not always but i’ve noticed
the trend a bit
(06:07 am) JoeyTSA :NFLX on radar
(06:08 am) Qwert :sky another thing about /CL
usually trend at pit open continues like this
am at open trend was up
(06:09 am) JoeyTSA :qwert: do you mean the
trend leading up to the pit open
(06:09 am) skydiver :thnx qwert — glad I’m
in Sim mode at the moment 🙂
(06:09 am) Qwert :i use 5min and 2 min if
they are the same then i look to go long if
different then i pas
(06:10 am) Qwert :of course by the same this
am they were both up
(06:10 am) Qwert :ye trend up to the open
joey
(06:10 am) JoeyTSA :ive noticed that also
(06:11 am) taco :this third top is a good
scalp /CL
(06:11 am) taco :i feel
(06:11 am) skydiver :gotcha taco — your 3
rule 🙂
(06:11 am) JoeyTSA :you can even scalp that
open qwert
(06:12 am) skydiver :well, I’m almost at
break even now
(06:12 am) Qwert :i have been joey got 12
tics this am have only been trading 1
contract on that setup for now
(06:13 am) JoeyTSA :good one
(06:13 am) skydiver :nice qwert
(06:13 am) Qwert :its been working pretty
well
(06:14 am) skydiver :so you’re using 5
minute and 2 minute qwert? interesting –
i’ve been using 5R or 4R next to a one minute
chart as well.
(06:14 am) Qwert :sky only to determine
trend
(06:14 am) skydiver :gotcha
(06:14 am) skydiver :very good qwert
(06:15 am) Qwert :back test you will see good
win pct.
(06:15 am) skydiver :will do
(06:15 am) skydiver :thnxk
(06:17 am) rd :Good Morning to all
(06:17 am) skydiver :gm rd
(06:18 am) taco :electrader sent this to me,
shed some light on /GC perhaps?
(06:18 am) taco
:http://www.bloomberg.com/video/how-does-dow-
16-000-impact-the-gold-market-BwCDMWUJStS4Use
kz1bP2w.html
(06:18 am) taco :if you have time
(06:19 am) Qwert :thx taco
(06:19 am) skydiver :thnx taco
(06:22 am) skydiver :well, closed my CL
short for now after it went against me for
quite sometime – only made 10 ticks, but
better than loss . . .
(06:23 am) JoeyTSA :thx for link taco
(06:23 am) JoeyTSA :PCLN up big today
(06:23 am) taco :thanks elec 🙂
(06:27 am) JoeyTSA :dont forget we have crude
inv today and fomc
(06:27 am) skydiver :thnx joe — completely
forgot
(06:27 am) skydiver :joey
(06:32 am) JoeyTSA :keeping VJET on radar
also
(06:35 am) skydiver :monitoring LULU
(06:36 am) skydiver :thnx Ed
(06:36 am) JoeyTSA :LULU had issues @ $70 a
few days back
(06:36 am) JoeyTSA :wasnt that the one sky??
(06:37 am) skydiver :I think so joey
(06:39 am) skydiver :TSLA – bouncy one today
— not traded it so far
(06:41 am) JoeyTSA :some hesitant trading?
(06:41 am) skydiver :on TSLA – yep
(06:41 am) JoeyTSA :maybe with fomc, not
sure, just a feeling
(06:42 am) skydiver :gotcha joey – you may
be right
(06:42 am) JoeyTSA :not sure, keep eye on
this /ES bounce if at all
(06:44 am) JoeyTSA :eye on BIDU,TSLA for
potential bottoms
(06:45 am) JoeyTSA :/ES pp = 1787 area
(06:45 am) skydiver :LULU finally dropped
nicely
(06:45 am) JoeyTSA :VJET still trying to
bottom
(06:46 am) skydiver :monitoring TSLA now . .
.
(06:47 am) JoeyTSA :was nice short i missed
(06:47 am) skydiver :yep – me too joey
(06:49 am) skydiver :well, hit another short
target on CL – nice sound
(06:50 am) skydiver :my timing is bad on
entering it seems, but eventually goes my way
. . more work to do
(06:50 am) skydiver :CL
(06:51 am) JoeyTSA :been a great short
(06:51 am) electrader :Sky, Thunder seems to
be very forgiving
(06:51 am) skydiver :seems llike it
electrader — exactly what I need 🙂
(06:51 am) electrader :yu and me both
(06:51 am) skydiver ::)
(06:52 am) JoeyTSA :maybe i should rename my
wife Thunder 🙂
(06:52 am) electrader :too funny Joey
(06:52 am) skydiver :lol joey 🙂
(06:53 am) JoeyTSA :ETE having issues so far
@ $74, watching that area for potential
breakout
(06:53 am) skydiver :TSLA still trying to
find a bottom
(06:53 am) JoeyTSA :overall things dont feel
strong to me
(06:54 am) JoeyTSA :most big names are closer
to lows than highs
(06:54 am) skydiver :LNKD dropped – missed
— yes — I agree joey
(06:54 am) JoeyTSA :/TF l ost 1100
(06:54 am) JoeyTSA :lost
(06:59 am) JoeyTSA :some buying coming in
(06:59 am) JoeyTSA :not trusting it yet
though
(07:01 am) JoeyTSA :thx Ed
(07:02 am) electrader :100+ tick drop on CL
(07:03 am) Murano :covered all ADT
(07:04 am) skydiver :nice one Murano
(07:05 am) Murano :thanks sky
(07:06 am) JoeyTSA :yeah ADT good one , good
trade murano
(07:07 am) JoeyTSA :/CL S1 is 93.35
(07:07 am) skydiver :thnx joey
(07:07 am) JoeyTSA :murano: clone that blind
squirrel and ship me one for Christmas 🙂
(07:07 am) skydiver :good one joey
(07:07 am) Murano :My internet cpmpany has
just informed me that my service will be down
off and on for the next two hours for
maintenance. I will not be trading until
they finish.
(07:08 am) skydiver :wow Murano – not fun
(07:08 am) JoeyTSA :at least they informed
you, mine just goes out
(07:08 am) taco :hope to get you back soon
M
(07:08 am) skydiver :I went long on TSLA –
looked for a small bounce
(07:08 am) Murano :I will post ideas if I
have service
(07:08 am) Qwert :Murano at least they let
you know
(07:09 am) JoeyTSA :smart to not trade
though
(07:09 am) Murano :They say it is scheduled
maintenance
(07:09 am) JoeyTSA :you would think 2am would
be more convenient for the public
(07:09 am) skydiver :3/4 out of TSLA long –
let last piece ride for a bit
(07:10 am) Mitch King:anyone know why NG,
Natural Gas is up today? no inventory report
until tomorrow
(07:11 am) JoeyTSA :not sure Mitch, i see it
now, didnt have chart up
(07:12 am) electrader :thnx Mitch
(07:13 am) alan3 :Thanks Mitch.
(07:13 am) skydiver :thnx Mitch
(07:13 am) JoeyTSA :makes sense, kinda been a
short the bounce type day so far
(07:15 am) taco :DDD had nice dbl dot, VJET
too
(07:15 am) JoeyTSA :yeah taco
(07:15 am) Ed :nice read taco
(07:15 am) JoeyTSA :DDD dbl bot had pos div
also
(07:16 am) JoeyTSA :so did VJET
(07:16 am) skydiver :thnx Mitch — good
info
(07:18 am) skydiver :stopped out on last
piece of TSLA long
(07:18 am) skydiver :at be basically
(07:19 am) Mitch King:ok see that quick
bounce in CL? if you get a higher high then
that is first possible clue you could have a
trend reversal but so far doesnt look like it
yet
(07:19 am) alan3 :Got it.
(07:20 am) Mitch King:best to see CL go to
93.25 area, hold that level and then bounce
up to higher moves.
(07:20 am) Mitch King:if you see 93.25 hold
for a few candles and stay level or try to
bounce, ok to try to buy but be aware that if
it fails and goes lower, then thats your
stop
(07:20 am) JoeyTSA :nice pop there, what was
the news
(07:21 am) Mitch King:ok right now what you
want is over 93.50
(07:21 am) JoeyTSA :thx
(07:21 am) Mitch King:CL 01-14 still weak but
trying to move up
(07:22 am) Mitch King:ok right here is
earliest sign of trend reversal but not
confirmed
(07:25 am) Mitch King:ok did those comments
make sense on CL?
(07:25 am) skydiver :yes Mitch — good
lesson
(07:25 am) taco :yes
(07:25 am) jasio :yes
(07:25 am) skydiver :CLF – watching
(07:25 am) Mitch King:now you are looking for
is another pullback to buy the bottom
(07:25 am) skydiver :CLF – rumors
(07:26 am) Mitch King:at this point of being
off the bottom of CL by 35 ticks, there is no
reason to buy at this price, best to wait for
a 10-15 tick pullback
(07:26 am) taco :thx joey
(07:27 am) Mitch King:if you are long CL from
that 93.40 area, just hold for awhile.
(07:28 am) alan3 :Ok
(07:28 am) JoeyTSA :just be careful with
report coming out
(07:28 am) alan3 :Got it thanks Joey.
(07:29 am) JoeyTSA :no prob, just have a stop
ready for worst case scenario
(07:29 am) Mitch King:thanks joey, forgot 1
minute to crude
(07:29 am) Mitch King:i like to be out of
positions during report
(07:29 am) Mitch King:its Russian roulette
(07:29 am) JoeyTSA ::)
(07:29 am) skydiver :thnx joey and Mitch
(07:29 am) JoeyTSA :im not gunslingin’ the
report today
(07:32 am) JoeyTSA :break time, see you in
20
(07:34 am) skydiver :take care joey
(07:38 am) skydiver :all out of CLF short
(07:47 am) Mitch King:got a funny story. got
a call from one of my daughters saying her
Ninja chart trader buttons arent working.
she said she has a position. i said do you
have a stop? is it long or short? she says
she was long CL. i said exit Ninja and
reload. she said locked up. i said, reset
computer, load ninja and try again. that
worked. in the meantime, she was up 58 ticks
and sold. best trade she has ever done.
(07:47 am) Mitch King:she has same habits as
skydiver, real small profits and gets out.
(07:48 am) taco :haha nice one
(07:48 am) Mitch King:lol, i told her best
trade she ever had. is Lightning still green
on uptrend? she said yes but felt compelled
to close and capture the profit. same
problem we all have.
(07:49 am) skydiver :good story Mitch — I
think I like your daughter’s trading style
🙂
(07:49 am) Mitch King:all time frames show
purple dash line is pegged to top on Thunder
chart, so i think best to keep riding it out
long but i think people see all that money in
profit and loss column and when it moves
around the human reaction is to capture it.
(07:49 am) skydiver :and I do have that same
problem 🙂
(07:49 am) Mitch King:no on this uptrend,
this strong of one, you really want to do the
same thing we did on the downtrend and wait,
wait wait for confirmation of a topping
action, nothing in sight now. all up
(07:50 am) Mitch King:see how the blue, red
and purple lines are pegged to the top? all
three lines?
(07:50 am) skydiver :yes
(07:50 am) taco :yes
(07:50 am) Mitch King:dont even think about
selling if you are long
(07:50 am) alan3 :Yes
(07:51 am) Mitch King:the first line that
will turn down is red, and if you had more
than 1 contract, a good procedure is to sell
1 contract on a red line turnign down after
an uptrend like this
(07:51 am) Mitch King:another thing you can
do if you wanted to focus just on CL, is
build 3 charts with a 4 range, 5 range and
maybe a 1 min chart of thunder chart
(07:52 am) Mitch King:it looks like going to
bottom here and make higher highs, probably
(07:52 am) Mitch King:im talking about CL
1-14
(07:55 am) skydiver :Out of time for today
. thnx for great teaching again . . been a
good day . see you all tomorrow morning 🙂
(07:55 am) Mitch King:the key thoughts you
should have now on CL, and you got to get
this imprinted in your brain is on any big
trend like this, there is plenty, plenty of
time to get the price you want, enter, sell,
whatever you are trying to do
(07:55 am) skydiver :thnx again Mitch . .
good lessons
(07:55 am) taco :right Mitch, thx
(07:55 am) taco :cya sky
(07:56 am) Mitch King:prices go in small
cycles like we breath air, small pullback,
then some buying and creates a high, then
small selling, and you can time yoru entries
and exits on that “breathing” No need to
stress
(07:56 am) skydiver :Im gone 🙂
(07:56 am) Mitch King:later sky
(07:56 am) skydiver ::)
(07:56 am) Mitch King:there is no better
position to have than being long in a strong
uptrend. you are in the drivers seat because
you know you have time
(07:57 am) Qwert :thx mitch
(07:58 am) electrader :thx for the lesson
Mitch
(07:58 am) Mitch King:so let’s look at this
CL now, flat for about 20 candles or so.
still no need to sell, you can pick your
price on a little movement up but now what we
are trying to do is see if it has a shallow
pullback and then levels out and moves higher
OR it makes a top and sells down. either
way, you have lots of time, no need for panic
selling or buying, thought process should be
very calm, you are in the drivers seat, you
have control
(07:59 am) Mitch King:if you dont have any
position, we just wait but remember this,
there will be a tradable setup within 20-30
minutes.
(07:59 am) JoeyTSA :good lesson
(08:00 am) JoeyTSA :its been trying to hold
R1
(08:00 am) Mitch King:i have red line turning
down at earlies setting at 3 range,
(08:01 am) JoeyTSA :DDD another dbl bot, this
time @ $71
(08:01 am) JoeyTSA :not trusting this one
(08:01 am) Mitch King:ok now, since the red
line is the first one turning down, and what
im personally looking for, which i think is
most likely scenario is red line goes down a
little maybe red line even goes down half way
down the scale.
(08:02 am) Mitch King:what is most likely,
not sure, just guessing, is red line levels
out somewhere without having dropped to
bottom of scale
(08:02 am) Mitch King:and if that happens,
price is leveling out and watch for a
resurgence of uptrend.
(08:03 am) Mitch King:if red line levels out
and turns up, thats buy signal, its a late
one but is worth buying smaller long
position
(08:03 am) Mitch King:is this making sense?
(08:03 am) JoeyTSA :yep
(08:03 am) taco :yes, buy the dip
(08:03 am) taco :if the stage is right
(08:03 am) Qwert :yes for sure
(08:04 am) Mitch King:well, buy the dip IF
and only IF the red line levels out and stops
going down
(08:04 am) jasio :yes
(08:04 am) Mitch King:we have no confirmation
of that happening yet
(08:04 am) taco :its pegged on 5 range
chart
(08:04 am) taco :4r shows
(08:05 am) electrader :what time frame are
yu following Mitch
(08:05 am) alan3 :Yes
(08:05 am) Mitch King:if you try to buy these
countertrend trades, which is a long entry on
a dip, you are asking for BIG trouble and
eventually you will lose doing that
(08:05 am) Mitch King:i have a 3 range chart
up and red line going down, just go down the
scale of timeframe, 3 being faster time frame
than a 5 range
(08:06 am) Mitch King:just trust me on that
comment , 2 comments above, dont get into
habit buying countertrend trades, you wont
consistently win and you get lost in the
forest
(08:06 am) Mitch King:thats not where the
money is, and the odds are terrible
(08:07 am) Mitch King:my personal mistake was
not listening to myself at 726am when we all
know your stats you researched how much money
is usually left when white zone just starts
appearing and 3 lines are moving up off
bottom
(08:08 am) Mitch King:we know over 70% of
them have at least 25 tick potential profit
on the long side and yet i was dinking around
looking for a pullback to add to long
position
(08:08 am) JoeyTSA :understandable with
report coming out though
(08:08 am) Mitch King:right, that is what
threw me off, plus i was teaching and
posting
(08:08 am) Mitch King:back to red line, tell
me what you guys see
(08:08 am) JoeyTSA :you can make it up at the
craps table later 🙂
(08:08 am) Qwert :yeah i got out prior to
report
(08:09 am) Mitch King:funny, i hate gambling,
totally against my thinking
(08:09 am) Mitch King:i know the odds are
stacked against me
(08:09 am) Mitch King:tell me what you guys
see on red line now
(08:09 am) JoeyTSA :you just wait for the
“red” to bottom and then bet black haha
(08:09 am) taco :on 3r its down still
(08:09 am) taco :pointing
(08:09 am) Qwert :slight dip on 5r
(08:10 am) JoeyTSA :i dont like /CL chart at
the moment
(08:10 am) electrader :still going down on
4R
(08:11 am) Mitch King:i have still gradual
downtrend on 3r, no leveling yet but checkout
the purple line, still toward top
(08:11 am) Qwert :haha just noticed i still
have a small position in ADT
(08:11 am) Mitch King:so it is still strong
on the long side
(08:11 am) electrader :looks like its
starting to level out on 4r
(08:11 am) Mitch King:my read on Thunder
chart is it is strong and long entry is best
trade, on slight dip, maybe 5-7 tick drop
(08:12 am) Mitch King:3r red line is turning
up,
(08:12 am) Mitch King:a long entry on this
trade has a small stop setting, maybe 15 tick
stop, real tight
(08:13 am) Mitch King:3 range chart
definiitely has red line upsloping, blue line
starting to level
(08:13 am) Murano :I don’t have Thunder but I
look at CL 1-14 as being in a not trade zone
right now.
(08:14 am) electrader :In this strong of an
uptrend can you expect a green buy signal?
(08:14 am) Mitch King:this is playing out as
i expected, most likely setup was a leveling
of a redline somewhere in teh middle of
scale
(08:14 am) Mitch King:no electrader, not yet
but im working on that with Thunder 2
(08:15 am) electrader :thx
(08:15 am) Mitch King:now the mindset on this
setup is not having high expectations of a
big whopping profit, you are just positioning
yourself on a smaller size positino long and
just monitoring what is happening.
(08:16 am) JoeyTSA :that $94.35 area has some
res
(08:16 am) Mitch King:your job now is to see
if we continue to get higher highs, and with
most important one is a new high for today
(08:16 am) Mitch King:right joey
(08:16 am) Mitch King:ok, problem, stop
(08:16 am) JoeyTSA :didnt want to get back
over R1 either
(08:16 am) JoeyTSA :see close to $94 what
happens
(08:17 am) JoeyTSA :big vol candle Ed
(08:17 am) Mitch King:got a sell signal on 3
range chart on Thunder 2, that can be used as
your stop, probalby a bounce back to 94.20
and id use that bounce to sell on this top
(08:18 am) Mitch King:no reason for panic
sell
(08:19 am) Mitch King:id consider selling on
CL soon, take break
(08:20 am) Mitch King:did that help you?
thats another setup that often is worth
taking but IS NOT near as good of a setup as
out of a trend
(08:21 am) Mitch King:and you guys did good
homework on that, which proves beginning of
trend like we saw when green turned to white
has good potential profit
(08:22 am) Mitch King:you guys should
probably copy this text, by right clicking in
the gray scroll bar area and pasting it to a
wordpad or word doc and review later today
(08:22 am) taco :i`ll keep my eye on that
setup Mitch
(08:23 am) Mitch King:it can be really useful
when market is trending strongly one way or
the other, both directions
(08:26 am) Mitch King:ok now look at 4 range
chart, purple line came off that extreme and
looks leveling, redline still shallow
downtrend, still looks bullish to me so far,
(08:28 am) Mitch King:key thing to remember
is whenever you make a trade or are thinking
about making it, be on the side of trend.
and you use this buy sell zones to determine
that trend. Even if you trade for smaller
profits, make sure your trades are short in a
downtrend and long in an uptrend.
(08:28 am) Mitch King:if you cannot interpret
the trend, and it is not clear to you, then
dont make a trade
(08:28 am) JoeyTSA :smart advice
(08:29 am) Mitch King:not getting enough
bullish evidence for long in CL now
(08:31 am) Mitch King:also, listen to your
own thoughts, if something is bothering you
about an existing trade, just calm down and
talk out loud and go through procedure
checklist. ask yourself questions, first
one: “OK, what is the trend?” am i fighting
that trend?
(08:31 am) JoeyTSA :agree again Mitch, thats
part of my “instinct based trading”
(08:34 am) Mitch King:look for evidence of
what is happening and you need to agree with
charts and your interpretation before making
trade. you notice how you react when you see
a setup you really really like? for me, its
like “Oh, theres a good one, and i sit down
real quick, grab mouse, scoot up chair and im
ready.
(08:35 am) Mitch King:that tells me i really
like it, i got a good signal on a chart, or a
setup, and compare that with the crappy ideas
we chase after. notice the difference in
your mindset? big difference right? so use
that word picture to remind you to wait for
good setup
(08:36 am) alan3 :Take care guys
(08:36 am) Mitch King:you can easily turn a
mediocre day into a crappy day by chasing
garbage ideas
(08:36 am) Mitch King:later alan
(08:36 am) Ed :c ya alan
(08:36 am) JoeyTSA :bye alan
(08:37 am) taco :cya alan
(08:38 am) Mitch King:its still bullish chart
on CL
(08:40 am) taco :are those two related
joeyÉ
(08:40 am) JoeyTSA :not sure
(08:46 am) Mitch King:probably worth a 1
contract long here on CL
(08:46 am) Mitch King:94.10 area
(08:50 am) rd :Got to go. Thx for vrtx joey.
good day to all
(08:51 am) taco :cya rd
(08:52 am) Ed :c ya rd
(08:53 am) JoeyTSA :bye rd
(09:12 am) JoeyTSA :i saw NY past law that
you have to be 21 to buy cigarettes
(09:13 am) taco :see the 5 yr old in
indonesia who smokes 40 cigarets a day?
(09:13 am) JoeyTSA :yeah
(09:13 am) taco :child smoking an issue
there..
(09:13 am) JoeyTSA :Ed: did you see that
running back from wash st, high school?
(09:13 am) taco :thx ed
(09:13 am) JoeyTSA :6’4” 400lbs
(09:14 am) Ed :yea
(09:14 am) Ed :big kid
(09:14 am) JoeyTSA :i wouldnt try to tackle
him haha
(09:15 am) Ed :lol
(09:15 am) JoeyTSA :$13 for pack of
cigarettes..so glad i dont smoke
(09:21 am) taco :and most who smoke cant
afford it
(09:23 am) JoeyTSA :have to leave in a few,
hope to be back for fomc release
(09:25 am) Qwert :nice /CL call mitch still
melting up
(09:37 am) Mitch King:yeah not big potential,
my read on it is not strong uptrend, not real
interesting to me.
(09:37 am) Mitch King:on CL
(09:37 am) Mitch King:im taking break now
(09:39 am) Qwert :i stopped out for 10 tic
winner only 1 contract
(09:40 am) Mitch King:ok good
(09:41 am) Qwert :had good low risk entry
after your call 94.08
(09:51 am) Murano :VJET not shortable at
Lightspeed
(09:52 am) JoeyTSA :didnt think so, thanks
Murano
(09:52 am) Ed :thx for VJET qwert
(10:00 am) Murano :covered 3/4 P
(10:06 am) JoeyTSA :eye on NFLX pullback
(10:08 am) Murano :covered last 1/4 P
(10:07 am) Ed :who trades with ninja and IB?
(10:12 am) taco :i do ed
(10:13 am) Ed :how do you like it
(10:14 am) taco :its great, mind you i
haven’t any experience with much else that’s
good
(10:14 am) Ed :ok
(10:15 am) taco :the only thing i’m not sure
about is sometimes ii have to reload my
charts
(10:15 am) taco :not sure if it’s my
internet, or what
(10:15 am) Ed :ok
(10:15 am) taco :not ideal when its a fast
mover
(10:16 am) taco :ninja thinks it has to do
with having too many days history
(10:16 am) Ed :that could do it
(10:23 am) Ed :do you also use kinetic taco
(10:23 am) taco :yes
(10:52 am) JoeyTSA :VJET ugly since that nice
up day a couple days back
(10:55 am) Ed :sure is, citron report has
done some damage
(10:55 am) JoeyTSA :ever since that dbl top
near $70
(10:56 am) JoeyTSA :DDD big red vol candle
(10:56 am) Ed :DDD getting hammered
(10:59 am) JoeyTSA
:http://www.cnbc.com/id/101214861
(10:59 am) JoeyTSA :just in case anyone
missed it
(11:01 am) JoeyTSA :interesting that GS had
been trickling down going into the
announcement
(11:03 am) JoeyTSA :looking at a few charts,
its feels like the market should be down
more
(11:03 am) JoeyTSA :some ugly charts out
there today
(11:20 am) Ed :agreed joey
(11:24 am) JoeyTSA :decent bounce on DDD
(11:48 am) JoeyTSA :great bounce on VJET too
(11:05 am) Qwert :/GC is all over the place
(11:06 am) JoeyTSA :too dangerous for me, but
nice $20 move down at one point
(11:06 am) Qwert :was almost instant joey
(11:06 am) JoeyTSA :lots of profit or loss
for someone
(11:06 am) Qwert :yeah not me just watching
(11:07 am) JoeyTSA :same here
(11:14 am) JoeyTSA :def watching 1780
(11:22 am) JoeyTSA :healthcare.gov crashes
during sebilius tour in miami hahaha
(11:24 am) Qwert :Gonna take off and take the
family out to lunch cya all in the am, great
calls today and teaching
(11:24 am) JoeyTSA :have a good one Qwert
(11:28 am) taco :cya qwert
(11:42 am) Ed :c ya qwert
(12:05 pm) Ed :we needed this,
(12:06 pm) JoeyTSA :yeah but i honestly
thought it would come after the holidays
(12:07 pm) Ed :they just want to take some
fluff out the markets
(12:07 pm) JoeyTSA :before another runup?
(12:28 pm) JoeyTSA :Thanks
Mitch,Ed,Murano,Qwert,traders
(12:28 pm) JoeyTSA :have a great day, see you
all tomorrow
(12:28 pm) Ed :c ya joey
(12:31 pm) JoeyTSA :THanks
Mitch,Ed,Diosna,Murano,Qwert,traders
(12:31 pm) JoeyTSA :have a great day, see you
tomorrow
(12:32 pm) skydiver :take care joey
(12:33 pm) Murano :see you joey
(12:33 pm) Ed :c ya joey
(12:34 pm) taco :cya joey
(12:36 pm) Qwert :bye joey have a great
night
(12:45 pm) jasio :Ths Everyone
(12:46 pm) taco :cya jasio
(12:46 pm) Ed :c ya jasio
(12:47 pm) rd :See you all tomorrow
(12:47 pm) Ed :c ya rd
(12:47 pm) taco :bye rd
(12:58 pm) taco :thanks everyone have a
great night, cya in the am
(12:58 pm) Murano :see you taco
(12:38 pm) taco :cya joey
(12:52 pm) jasio :Thank you for today’s
education :). Have a nice day.
(12:52 pm) Ed :take care jasio
(12:53 pm) taco :cya jasio, thanks everyone
have a nice night
(12:55 pm) jasio :You keep busy learning
:)See you all tomorrow.
(01:00 pm) Qwert :good night everybody
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