(06:00 am) JoeyTSA :FB very active so
far
(06:07 am) JoeyTSA :trail/tighten FB
if long
(06:08 am) JoeyTSA :/CL coming up
to $105 res
(06:25 am) Ed :BIDU looks like
134 area rejecting price for now. post and
premarkt
(06:27 am) Ed :thats on
SRPT
(06:27 am) Ed :would start small, or
just see what kind of reaction we get right
at open, if buyers do come in at all. See how
far buyers can push
(06:27 am) Ed :on SRPT
advanced trade look for break of 36.66 with
STRONG vol for continuatiion short
(06:28
am) Ed :FB pulling back now, has issues with
35 level
(06:29 am) Ed :TRIP kind of quiet
would use 70 level see how it reacts to
it
(06:30 am) Mitch King:YNDX
spike
(06:30 am) Mitch King:watching
INFN
(06:30 am) Mitch King:Premarket
up: FB, QCOM, Premarket down:
CROX
(06:31 am) Mitch King:watching CROX,
change chart settings to see closeup of chart
after big drop
(06:31 am) Mitch
King:watching ANGI
(06:31 am) Mitch
King:watching CAB
(06:31 am) Mitch
King:watching BIDU
(06:31 am) JoeyTSA :eye
on WDC
(06:32 am) Mitch King:watching
FFIV, probably trends today
(06:32 am)
Mitch King:LNKD on the move
(06:32 am)
Mitch King:watching RYL
(06:32 am) Mitch
King:watching GRA
(06:32 am) Mitch
King:monitoring STX
(06:32 am) JoeyTSA
:eye on UA today
(06:33 am) JoeyTSA :eye
on BIIB for bottom
(06:33 am) Mitch
King:watching SNTS, watching
closely
(06:33 am) Mitch King:watching
COF
(06:34 am) Mitch King:watching
POT
(06:34 am) Mitch King:watching GRA
closer
(06:34 am) Mitch King:watching USU
today for big drop and then pop
(06:34 am)
Mitch King:watching DAN
(06:34 am) JoeyTSA
:eye on GMCR @ $74, see if holds or
not
(06:34 am) Mitch King:watching HERO
for short
(06:34 am) Mitch King:watching
CNX, short
(06:35 am) Mitch King:watching
CTXS, looking for bottom
(06:35 am) Mitch
King:to buy the pop
(06:35 am) Mitch
King:watchign QIHU for bottom
(06:35 am)
Mitch King:watching CAM
(06:35 am) JoeyTSA
:eye on APD also
(06:35 am) Mitch
King:watching RRC
(06:35 am) Mitch
King:watching DO
(06:36 am) Mitch
King:watchign SPR
(06:36 am) Mitch
King:monitoring RKT
(06:36 am) Mitch
King:watching EW
(06:36 am) Mitch
King:watching UTHR
(06:36 am) Mitch
King:watching VNTV
(06:36 am) Mitch
King:watching NFX
(06:37 am) Mitch
King:watching IPO ONTX in about 20
minutes from now, supposed to be a hot one,
you want big drop and buy that bottom, only
on first big drop, doesnt work well after
that for high odds
(06:38 am) Mitch
King:watching ASGN
(06:38 am) Mitch
King:watching QIHU
(06:38 am) JoeyTSA
:watching AKAM for top
(06:38 am) Mitch
King:watchign ESI for bottom
(06:38 am)
Mitch King:watchign MJN
(06:38 am) Mitch
King:watchign AAPL for bottom
(06:39 am)
Mitch King:one of these days, maybe today,
housing stocks should have bigger bounce than
normal after lot of selling
(06:39 am)
JoeyTSA :/CL pullback to $105, on
watch
(06:39 am) Mitch King:watching DHI,
other housing stocks are TOL, LEN, KBH, PHM,
usually same pattern
(06:40 am) Mitch
King:watching TSCO
(06:40 am) Mitch
King:TRIP toppy
(06:40 am) Mitch
King:still watchign ANGI
(06:40 am) Mitch
King:watching YOKU for top
(06:40 am)
Mitch King:watching GILD
(06:41 am) Mitch
King:lol, that was repeat
(06:41 am) Mitch
King:watchign TSCO
(06:41 am) Mitch
King:watchign CELG for bottom
(06:42 am)
Mitch King:watching HOT for short
here
(06:42 am) Mitch King:monitoring
ORLY
(06:42 am) JoeyTSA :eye on OKE near
$50
(06:42 am) Mitch King:watching RCL,
Royal Cruise
(06:43 am) Mitch
King:monitoring AMP
(06:43 am) Mitch
King:godo trades on BIDU
(06:44 am) Mitch
King:watching SINA, turned over
(06:44 am)
Mitch King:consider selling VNTV
(06:45
am) Mitch King:watchign for top in VMW to
short
(06:45 am) Mitch King:watchign
DNKN
(06:46 am) Mitch King:watching for
microshort on EFX
(06:46 am) Mitch
King:take time on these rebounds to short on
VMW
(06:47 am) Mitch King:watching YELP
for bottom, watch big spread
usually
(06:47 am) Mitch King:watching
RTN
(06:47 am) Mitch King:watching STX
closer
(06:48 am) Mitch King:missed HOG
short but monitor for rebound for 2nd helping
above 58.5, prob wont happen
(06:48 am)
JoeyTSA :eye on BIDU
(06:48 am) Mitch
King:BG turning over, more downside
(06:49
am) Mitch King:watching INFN closer
(06:49
am) Ed :if u took SRPT short would cover some
in here
(06:50 am) Mitch King:watching for
2nd short on LAZ, never saw first one.
THis is Lazard, not Lazyboy
(06:50 am)
JoeyTSA :GMCR nice short if you took it on
$74 loss , i missed
(06:52 am) Mitch
King:HOG getting interesting
(06:52 am)
Mitch King:watching RRC
(06:53 am) Mitch
King:watching SLAB closely
(06:53 am)
Mitch King:QQQ not quite high but also
rebounded
(06:53 am) Mitch King:SPY
rebounded, now toward high of day
(06:54
am) Mitch King:wait and see if HOG makes new
high, looks ready to short soon
though
(06:54 am) Mitch King:RRC
toppy
(06:55 am) Mitch King:late to see
APD turned over, nice trades on it
today
(06:55 am) JoeyTSA :fomc member Lew
is supposed to be talkign now, watch
positions
(06:55 am) Mitch King:always use
limit orders on a stock like USU with big
spread, stand your grand on price you
want
(06:56 am) Mitch King:watching INFN
still
(06:56 am) Mitch King:monitoring
CTRP
(06:56 am) Mitch King:watching
AMCC
(06:57 am) Mitch King:watching
AKAm
(06:57 am) JoeyTSA :eye on CAB,
missed the up move
(06:58 am) Mitch
King:watching ITMN
(06:58 am) Mitch King:i
think AMZN earnings after market
today
(06:58 am) Mitch King:big name
stocks turning over, retailers like HD, TGT,
even AMZN
(06:58 am) JoeyTSA :NFLX on
move
(06:59 am) Mitch King:watching
GMCR
(06:59 am) Mitch King:watchign
FLIR
(06:59 am) Mitch King:watching YY,
low vol
(07:01 am) Mitch King:watching
ALKS
(07:01 am) Mitch King:consider
reducing INFN
(07:03 am) Mitch King:SEC
case going to be difficult to get conviction
on SAC culture encouraged inside
trading. failure to supervise is a weak
case.
(07:04 am) Mitch King:i guess 610
mil settlement isnt enough money for
SEC
(07:05 am) Mitch King:watching
YY
(07:05 am) Mitch King:watching
LULU
(07:06 am) Mitch King:SEC cant get
dirt on Steve Cohen himself, i doubt they can
keep him from managing money but they have
seriously harmed the company with high amt of
withdrawals
(07:06 am) JoeyTSA :eye on /NG
, also nat gas report in about
24min
(07:08 am) JoeyTSA :RRC a beautiful
chart to print and study
(07:10 am) Mitch
King:monitoring SODA
(07:10 am) Mitch
King:monitoring RT
(07:11 am) Mitch
King:watch CL for bottom to buy, should be a
good buy signal to last for hour?
(07:11
am) Mitch King:watching AAPL
(07:11 am)
JoeyTSA :CELG testing $140
(07:12 am)
Mitch King:INFN toppy
(07:12 am) JoeyTSA
:MJN giving pullback, see if $76 can
hold
(07:13 am) Mitch King:you guys should
all have Lightning vers 3 by now, download
links,
(07:14 am) Mitch King:whatever
sound or alert you liek or dont like you can
have it on or off
(07:14 am) JoeyTSA :eye
on AMGN
(07:14 am) Mitch King:frank
sinatra sound is price levels are very low
and look for bottom to buy
(07:15 am)
Mitch King:looking for bounce in CL
(07:17
am) Mitch King:thats correct joey. we
developed our own version of oscillator but
is so complicated i didnt want to release it,
too confusing for most
(07:18 am) Mitch
King:i got a lime green buy signal just now
on 1 min CL
(07:18 am) Mitch King:correct
joey, you are looking for next signal, best
to get an orange, purple blue or now a lime
green buy signal
(07:19 am) Mitch
King:watching PTEN
(07:20 am) Mitch
King:yes joey, ooga is overbought
area
(07:21 am) Mitch King:thanks taco for
ONTX headsup
(07:22 am) Mitch
King:watching MTW
(07:23 am) Mitch
King:more upside on WDC
(07:23 am) Mitch
King:consider covering SKX if short
(07:24
am) Mitch King:USU toppy, sell if
long
(07:25 am) Mitch King:PTEN
bouncing
(07:26 am) Mitch King:monitoring
SHPG, trending
(07:27 am) JoeyTSA :nat gas
# in 2min
(07:28 am) Mitch King:ONTX
posting bid and ask but not open
yet
(07:33 am) Mitch King:did you guys get
a orange buy signal on the 1 min chart of
vers 3 on CL?
(07:34 am) Mitch King:same
here qwert, lime green
(07:34 am) Mitch
King:same here qwert, 720am pt
(07:35 am)
Mitch King:i think qwert is too
(07:35 am)
Mitch King:yes joey, i am on the 1 min
chart
(07:39 am) Mitch King:watching CTXS
for bottom
(07:43 am) Mitch King:this is
going to be a good play on long side, the
lower the better
(07:43 am) Mitch King:i
am talking about ONTX ipo
(07:43 am) Mitch
King:nope, just lost 22
(07:43 am) Mitch
King:looks close here though
(07:43 am)
Mitch King:let it drop a little
more
(07:44 am) Mitch King:you have to use
limit orders, i would use simulator for this
if you dont know how to trade IPOs
(07:44
am) Mitch King:i think we have a bottom here
n ONTX
(07:47 am) Mitch King:you buy IPO
drops like this ONTX in increments but
you have to remember it is a fast moving
stock, very fast.
(07:50 am) Mitch
King:now this is when you need to walk away
from it, i really wouldnt trade it, odds drop
in half or more against you
(07:50 am)
Mitch King:thats pretty much it as far as a
high probabilty ipo trade
(07:50 am) Mitch
King:?
(07:50 am) Mitch King:ok you guys
do well on ONTX>
(07:51 am) Mitch
King:the more you trade it from here the more
you dribble your account balance
down
(07:52 am) Mitch King:you can see it
is stuck here, that is a gracious
top
(07:53 am) Mitch King:if you try to
force more money out of the ONTX trade, you
would have to ask yourself a question of risk
vs. reward. Reward is getting very
small and risk is increasing. you would
also have to ask why 10% move isnt enough
money for you on an IPO when 95% of them dont
act this well
(07:54 am) Mitch King:im now
your mental coach. don’t be tempted to
buy long here even though it is powering
up,
(07:54 am) Mitch King:i think ok if
you are trailing a stop from earlier long but
a new position from here is financial
suicide
(07:55 am) Mitch King:watching
IP
(07:55 am) Mitch King:it is very very
rare this happens, maybe 1-2 times a
year.
(07:55 am) Mitch King:we are talking
about ONTX
(07:58 am) Mitch King:the guy
who gave me the alert it would be hot was Jim
Cramer on cnbc.
(07:58 am) Mitch King:you
have to be in the mentality with IPOs to be
grateful to make that much money and hold on
to it. it is a one time
opportunity. im telling ya, old Chinese
man is right on this. this is the ONLY
way i play IPOs. a hot hot ipo, that
drops hard just like ONTX did. from $25
to $20 and bounce to $22, picture perfect
high odds play.
(07:59 am) Mitch King:i
also saw another commentator mention it on tv
too, bloomberg tv so then i was sure it would
have attention because there are specialists
with IPOs. i dont have time to be a
specialist on ipos anymore, was in the mid to
late 90s
(08:00 am) Mitch King:i do what
Ed suggested, i replace that chart with
another idea so i dont get tempted.
(08:00
am) Ed :US) July Kansas City Fed
Manufacturing Activity: +6 v 0e –
(08:02
am) Mitch King:and all three have to give you
a green light
(08:02 am) Mitch King:i
think if anyone wants to trade ONTX again
today has to get permission from 3 other
traders here before clicking mouse
(08:03
am) Mitch King:but dont ask me because that
chart has been replaced with the CL 1 min
again. still no sell signal from the
lime green and orange buy signal
qwert
(08:05 am) Mitch King:right taco,
thats what i am saying the odds are it is all
played out and the trade is over with
ONTX. now i get back to monitoring the
CL 09 long trade from 718 and 720am buy
signal this morning on 1 min chart.
(08:06
am) Mitch King:i have both charts next to
each other. only use the 362
lightning bars to execute, sometimes the 242
setting but watch the 1 min chart most of the
time for overall look
(08:07 am) Mitch
King:the lightning bars are a zoom lens,
easier to see wider landscape view of CL on 1
min
(08:08 am) Mitch King:you can choose
when to sell so dont wait for sell signal on
1 min. it may not show an orange,
purple, cyan blue or hot pink red sell
signal. but i know this type of signal,
especially accompanied with that lime green
buy signal is very very powerful, often times
50-70 tick moves
(08:09 am) Mitch
King:other futures instruments, works same
way, not so much with ES though
(08:09 am)
Mitch King:look at the one earlier at 518am
pacific time on CL 1 min chart, price level
was around 104.45, look what happened
following hour, 100 ticks or so, happens over
and over and over so i have adjusted my
trading style
(08:10 am) Mitch King:i
think you should go back and look last 30
days on charts tonight and verify for
yourself.
(08:11 am) Mitch King:you really
should because confidence soars
(08:12 am)
Mitch King:you should also keep records in a
spreadsheet and then do that for 3 months and
then get your stats.
(08:13 am) Mitch
King:it calms your trading down a lot with
futures. i think skydiver would have a
challenge transitioning to this but he can
use 242 setting for his style and that works
too, just a lot more trading, requires higher
attention for shorter periods of time.
and that is profitable too
(08:15 am)
Qwert :watching FB again at lod
(08:26 am)
Murano :watching AEM
(08:32 am) Ed :sorry
thats Newark Airport
(08:32 am) Ed :smoke
reported on United Airlines flight in New
York
(08:48 am) Mitch King:first sell
signal since the 718am and 720am buy
signals
(08:48 am) Mitch King:ok got first
sell signal on 1 min CL 09
(08:48 am)
JoeyTSA :/CL might bet getting
toppy?
(08:49 am) Mitch King:so that is
140 tick move, monster move
(08:50 am)
Mitch King:you dont have to wait for a sell
signal qwert
(08:58 am) Murano :watching
HD
(08:58 am) JoeyTSA :no trade yet, but
keep eye on AMZN
(09:06 am) JoeyTSA
:watching USG
(09:13 am) JoeyTSA :tighten
USG if long
(09:19 am) JoeyTSA :CMG pop
over $400, has lower vol
(09:23 am)
JoeyTSA :markets getting some
buying
(09:25 am) Murano :watching
GRA
(09:37 am) JoeyTSA :if anyone is still
long USG, now is better time to tighten
🙂
(09:41 am) JoeyTSA :re: AMZN earnings,
based on atm $300 straddle, potential move is
$18-20 either way
(09:45 am) Ed :SPY new
hod
(09:48 am) JoeyTSA :AMGN slow trend
higher
(09:59 am) Ed :EG) Egypt military
sets new deadline of Saturday to join with
the political process (related EGPT USD/EGP
–
(10:00 am) Ed :EG) Egypt military sets
new deadline of Saturday for Muslim
Brotherhood to join with the political
process-
(10:12 am) Murano :watching
HOT
(10:26 am) Murano :watching
HWAY
(10:35 am) Ed :USU forming nice
triangle on 15minute chart, keep on radar to
look for break to upside/downside
(10:36
am) Ed :if ur not familiear with
Triangles/pennants technical analysis
by john murphy great study guide
(11:07
am) Ed :SKS on move
(11:07 am) Ed
:SPY new hod
(11:08 am) Ed :will look for
tets near hod
(11:12 am) Ed :TGT
monitoring would loke more selling and test
@near 70 area
(11:19 am) Ed :SKS still
strong
(11:31 am) Mitch King:i have stitch
marks
(11:31 am) Mitch King:dont try to
buy ONTX bottoms now, like trying to catch
falling knife, often slashes wrist by
accident
(11:36 am) Mitch King:you also
need to remember that ipos usually have wide
spread, ONTX has 19 cent spread, 15 cents
most of today. that makes it tougher to
get good and timely prices
(11:46 am)
Murano :watching EIX
(11:58 am) Ed :also
quick hint for strong uptrend stocks, we
spoke about downtrends yesterday, just
opposite
(11:59 am) Ed :it confirmed
rejection of highs just like u look for
confirmation in downtrend of comfirms of
lows
(11:59 am) Ed :EX. OKE had bearish
candle 2:39, then u look for retest or
confirmation of that and we got rejection
candle 2:47 that confirmed
(12:01 pm) Ed
:This will help on % basis on those trenders
when one is trying to go against overall
trend. No hurry wait for stock to
setup. If does not or no confirmation
pass
(12:02 pm) Ed :sometimes u may not
get retest, but again so many opportunities,
you want to play the higher probability
setups
(12:04 pm) Ed :Its all about
probabilities
(12:04 pm) Ed :advanced
traders will take first setup they see. Setup
being signal. But again when going against
trend more confirm increases odds.
(12:09
pm) Ed :US$ finally lost 82 area
(12:09
pm) Ed :US) Fed officials are said to be
looking at revising guidance on rates at the
July FOMC meeting on July 30-12st – financial
press – Fed said to be on track to continue
$85B rate of QE asset purchases.
(12:09
pm) Ed :6E (euro) and EUR/USD moving to new
high
(12:30 pm) Ed :Market Internals
update at 15:30ET – NYSE volume 455M shares,
about 4% below its three-month average;
advancers lead decliners by 1.1:1. –
NASDAQ volume 1.7B shares, about 25% above
its three-month average; advancers lead
decliners by 1.8:1. – VIX index -1.8%
at just under 13.00 (12:41 pm) Ed :WFC
Withdraws from the Mortgage Joint Venture
Business (12:53 pm) Ed :have a great eve
traders
(01:17 pm) Mitch King:if anyone is
still here, regarding that ONTX. what
we want to see tomorrow at opening is a drop,
maybe 2 points and then look for
bottom. remind me on this
(01:19 pm)
Mitch King:Expedia.com dumped, EXPE
| (05:36 am) taco :/GC poping
(05:53
am) JoeyTSA :Good morning Qwert,
traders
(05:54 am) JoeyTSA :only report
left today is nat gas @ 7:30pdt
(05:55 am)
JoeyTSA :early gap down:
CROX,WDC,EQIX,SI,SRPT,SQNM
(05:55 am)
JoeyTSA :early gap up:
BIDU,FB,FFIV,TRIP,BIIB
(05:56 am) JoeyTSA
:UA,CELG,LNKD up too, will keep them on the
radar
(05:56 am) taco :gm Qwert Joey
and all thx joey for info
(05:56 am)
JoeyTSA :taco, you will love that
book
(05:58 am) taco :i read a bit
this morn, thanks
(05:58 am) JoeyTSA :no
prob, very easy read but great
material
(05:59 am) taco :i grabbed
the others too
(06:00 am) JoeyTSA
::)
(06:07 am) Murano :good
morning
(06:07 am) JoeyTSA :Good morning
Murano and Ed
(06:08 am) Murano :good
morning Joey
(06:09 am) Ed :good morning
joey, murano,qwert, akram, austria,
harlen444,mberl1, regatta,shorty,so, taco,
others
(06:09 am) Qwert :Good morning to
everyone
(06:12 am) JoeyTSA :/CL blew
right through 105
(06:16 am)
skydiver :gm all
(06:21 am)
herman :gm all
(06:24 am) JoeyTSA
:just going to use 1676,1680 on /ES to start
off with as s/r
(06:24 am) JoeyTSA
:probably not exact, just eyeballing those
levels
(06:27 am) JoeyTSA :thx
Ed
(06:27 am) skydiver :thnx
Ed
(06:29 am) taco :THX ED
(06:29
am) taco :caps..
(06:33 am) JoeyTSA
:BIDU active
(06:33 am) so :FB
up
(06:36 am) JoeyTSA :AMZN lost $300,
just watching for now
(06:37 am) JoeyTSA
:thx Mitch
(06:41 am) skydiver :ipo
– WCIC now open
(06:43 am) skydiver
:FB slowly coming down
(06:45 am) Qwert
:CROX new hod
(06:50 am) JoeyTSA :/ES into
1680 res
(06:52 am) JoeyTSA :yeah, RRC
perfect moves so far
(06:54 am) JoeyTSA
:eye on FFIV @ $91
(06:56 am)
skydiver :thnx joey for news on fomc
member . . watching positions for
sure
(06:56 am) skydiver :thnx for
RRC Mitch
(06:56 am) JoeyTSA :/CL was nice
bounce off $105
(06:57 am) JoeyTSA :APD
has been nice
(06:57 am) skydiver
:covering 3/4 RRC short
(06:58 am)
so :APD great short
(06:59 am)
taco :nice on RRC
(06:59 am) JoeyTSA
:correct Mitch, AMZN after close, cons
est is .06, whisper is .08
(06:59
am) taco :nice so
(07:01 am)
skydiver :got out too early on RRC, but
glad I kept 1/4
(07:01 am) JoeyTSA :RRC
beautiful call
(07:04 am) JoeyTSA
::)
(07:04 am) JoeyTSA :if they arent
happy with that, they can send it my
way
(07:07 am) JoeyTSA :didnt even see
TSLA hold $120 area
(07:07 am) taco
:BIDU may not hold up..
(07:07 am) JoeyTSA
:yeah taco
(07:08 am) Murano :RT having a
bad day
(07:08 am) taco :so many
good ideas this morn
(07:09 am) JoeyTSA
:re: RRC , picture perfect moves, pullbacks,
dbl top and use of round #’s
(07:09 am)
taco :totally
(07:12 am)
skydiver :TSLA strong so far this
morning over all
(07:12 am) JoeyTSA :/CL
ugly $1 pullback, sitting on S1 now
(07:13
am) JoeyTSA :yeah sky, missed that bounce,
wasnt even looking at it
(07:13 am)
skydiver :yes Mitch — downloaded it
and using it now
(07:13 am) JoeyTSA :same
here, just trying to understand what Frank
wants 🙂
(07:14 am) skydiver :lol
joey 🙂
(07:14 am) Qwert :haha same here
joey
(07:14 am) skydiver :thnx Mitch
— was wondering
(07:15 am) JoeyTSA :i
assume when the alert says ” OSC below outer
OS” it means the oscillator is below an outer
oversold area?
(07:16 am) skydiver
:my aaooga horn just went off . . nice
horn
(07:17 am) JoeyTSA :ok, i dont
get any color bar on those, is that
correct?
(07:18 am) skydiver :ipo –
ICEL – opens in a couple of minutes arond $12
or so
(07:18 am) JoeyTSA :thanks, i
didnt get a lime green though on
/CL
(07:19 am) JoeyTSA :but i did get a
dbl bot with pos div
(07:19 am) JoeyTSA
:/CL S1 is 104.50
(07:20 am) JoeyTSA :so
oouga horn is overbought alert, now its
making sense
(07:20 am) taco :ICEL
open
(07:20 am) skydiver :thnx
taco
(07:21 am) taco :watching for
ONTX too..
(07:21 am) taco :np
Captian
(07:22 am) so :SKX great
short
(07:23 am) JoeyTSA :nice run on
WDC
(07:28 am) JoeyTSA :/NG can get wild,
either avoid it or use caution if trading
it
(07:28 am) Qwert :thx joey
(07:29
am) skydiver :glad I passed on ICEL
ipo
(07:33 am) Qwert :yes at 7:20 pst
mitch
(07:33 am) Qwert :104.37
price
(07:34 am) JoeyTSA :no i didnt get
it
(07:34 am) Qwert :lime green at
7:18
(07:34 am) JoeyTSA :didnt get taht
either
(07:35 am) JoeyTSA :is it because i
am on the 2-4-2 ?
(07:35 am) JoeyTSA :oh
ok
(07:35 am) Qwert :i have 1 chart on 1
min and another on lightning 3 bar
chart
(07:35 am) JoeyTSA :thx
qwert
(07:36 am) JoeyTSA :great moves so
far, break time, see you in 45
(07:36 am)
taco :c ya joey
(07:36 am)
skydiver :take care joey
(07:40 am)
skydiver :ipo – ONTX is open
(07:41
am) taco :thx sky
(07:41 am)
skydiver :np
(07:43 am)
skydiver :thnx Mitch on ipo
info
(07:45 am) skydiver :ONTX –
still watching
(07:48 am) Ed :thx Mitch
for ONTX
(07:49 am) taco
:nice:)
(07:49 am) taco :thx
mitch
(07:50 am) skydiver :all out
of ONTX long
(07:50 am) taco
:yes
(07:50 am) skydiver :yes Mitch
— thanks 🙂 🙂
(07:50 am) Qwert :yes
ONTX
(07:50 am) skydiver :great
teaching Master Mitch 🙂
(07:50 am) Qwert
:i still have 100 shares left
(07:51 am)
skydiver :ok . . walking away from
it
(07:51 am) Qwert :stop at .99
(07:51
am) taco :right
(07:51 am)
skydiver :understand
(07:51 am)
taco :for me that would be
true
(07:51 am) Qwert :for all of us
taco
(07:52 am) taco :lol
(07:53
am) taco :ed, theres a message stuck on
the screen
(07:53 am) taco :oh no,
sorry it was mine
(07:53 am)
skydiver :ok . . my time is up . . fun
morning again 🙂 May not be back
on till Monday — picking up step mother and
sister at airport here in Portland
(07:53
am) Ed :lol OK
(07:53 am) Ed :see ya
sky
(07:53 am) skydiver
::)
(07:54 am) taco :bye sky have a
great day with fam
(07:54 am)
skydiver :thanks taco
(07:54 am)
skydiver :see ya
(07:55 am) Qwert
:just trailing stop on last 100
onxx
(07:55 am) Ed :Good idea to take
completely off ur screen
(07:55 am) Qwert
:sorry ontx
(07:58 am) Qwert :thx
mitch
(07:59 am) taco :i was
wondering how you figured it would be
good
(07:59 am) taco :BIDU
dropping
(08:02 am) Qwert
:haahaha
(08:02 am) taco
🙂
(08:03 am) taco :38%fib for BIDU,
not trading just noticing
(08:05 am) Qwert
:are u using 1 min to trade off of mitch or
just for that good signal to then use
lightning bars
(08:07 am) Qwert :okay
thank you
(08:07 am) Qwert :right i have a
tendency to get to zoomed in
(08:09 am)
Qwert :Mitch are you doing the same with
other instruments or just /CL
(08:10 am)
Qwert :thanks
(08:11 am) Qwert :i already
am 🙂
(08:35 am) JoeyTSA :OKE with
some nice moves today
(08:42 am)
taco :CAT bouncing dbl bot
(08:42
am) taco :late
(08:45 am) JoeyTSA
:watching RRC @ 40, but marginal trade
at best
(08:45 am) herman :stra res
43
(08:46 am) JoeyTSA :thx herman, but do
you mean support?
(08:48 am) herman
:yes
(08:49 am) taco :nice
Mitch
(08:49 am) JoeyTSA :huge
move
(08:50 am) Qwert :i havnt gotten a
sell on the 1 min yet
(08:51 am) JoeyTSA
:10 contracts paid almost as much as a year
working for minimum wage, just for
perspective
(08:51 am) taco
:wow
(08:52 am) taco :whats the
margin for 1 joey?
(08:52 am) herman
:itmn rolling
(08:52 am) Qwert :oh i know
was just saying my version has not kicked a
signal yet on 1 min wait just did now at
8:51
(08:52 am) Mitch King:usually about
3500 taco
(08:52 am) JoeyTSA :approx $2k
depending on broker
(08:52 am) taco
:ty
(08:52 am) Mitch King:Zaner has low
margin requirements, IB is highest
(08:53
am) JoeyTSA :overnight is higher, closer to
$5k +
(08:53 am) Ed :AMP pretty low
also
(08:53 am) Ed :AMP clearing
(08:53
am) taco :nice
(08:54 am) taco
:definitely in my future
(08:54 am)
JoeyTSA :no pun intended haha
(08:54
am) taco :;)
(08:54 am) Qwert :i use
amp they have been real good no
problems
(08:54 am) Qwert :nice call on
/CL mitch
(08:58 am) JoeyTSA :re; AMZN ,
earnings today, bouncing between 299,300
right now, i would expect some type of
move
(09:06 am) JoeyTSA :USG trying to
hold $24, large red vol
candle
(09:09 am) JoeyTSA :OKE still
toying with $50
(09:09 am) JoeyTSA :trying
to bounce a bit though
(09:12 am) Murano
:covered all AEM
(09:13 am) taco
:nice call joey
(09:14 am) JoeyTSA :USG
might have more upside, just dont give back
much profit
(09:14 am) JoeyTSA :was
originally looking for 24.60
(09:15 am)
taco :i was a little late, in at
24.07
(09:15 am) taco :but was a
triangle before the uptick
(09:16 am)
taco :i guess it had higher lows and
highs
(09:17 am) JoeyTSA :all out, still
might run though
(09:17 am) taco :im
out too
(09:18 am) JoeyTSA :little more
cautious this time of day
(09:18 am)
JoeyTSA :AMZN hilarious, keeps coming back to
$299
(09:19 am) herman :good call
usg joey
(09:19 am) JoeyTSA :thx
herman, in hindsight left $ on the
table, oh well
(09:20 am) JoeyTSA :if
anyone took OKE off of $50, tighten as it
nears $51
(09:25 am) JoeyTSA :totally
missed UA
(09:25 am) JoeyTSA :thx
Murano
(09:28 am) Murano :I missed my
entry on GRA
(09:28 am) JoeyTSA :USG ended
up making it to 24.60 , should have stuck to
my guns
(09:30 am) Murano :lunch
time back in 20
(09:30 am)
JoeyTSA :enjoy
(09:31 am) taco :c ya
m
(09:38 am) JoeyTSA :i left as much money
on the table as i made on that one
(09:39
am) Ed :nice way to put it
(09:39 am)
JoeyTSA :i typed it much nicer than i talked
it out loud hahaha
(09:39 am) Ed
:lol
(09:40 am) JoeyTSA :started off as ”
hey you dumb…” you can figure out the
rest haha
(09:46 am) JoeyTSA :/YM up
about 100pts past hour
(09:51 am)
herman :look at usg go
(09:51 am)
herman :haha
(09:52 am) herman
:out long time ago
(09:52 am) JoeyTSA
:same here
(09:53 am) Murano :if you took
GRA long would sell some here
(09:57 am)
herman :oke what anice chart
(10:06
am) herman :oke
(10:08 am) JoeyTSA
:yeah, OKE has been a player a few
times
(10:09 am) herman :usg finally
rolling over
(10:18 am) Murano :not
trading HOT short, wanted to take it long
over R2
(10:21 am) JoeyTSA :ALXN lod,
trying to hold $197
(10:21 am) JoeyTSA
:$107
(10:23 am) JoeyTSA :lunch break,
back in 40 , very good calls today
(10:43
am) taco :thanks Mitch Ed Qwert Murano
Joey and everyone. i have to paint and put
new floor in a rental. have a great wknd and
hope to be back monday
(10:44 am) Qwert
:bye taco cya monday
(10:46 am) Ed :c ya
taco, have fun
(10:46 am) Ed :and make
that money dont let the money make
you
(10:48 am) herman :bye
taco
(10:49 am) Murano :covered 3/4
HWAY
(10:56 am) herman :was out at
17.64
(10:58 am) so :watching
OKE
(10:59 am) Murano :I covered 3/4 at
17.58 looking for 17.45 on last 1/4.
Stop at 17.71.
(11:24 am) herman
:oke trending wait till break trend
(11:25
am) JoeyTSA :yeah, OKE coming up to dbl top
area
(11:26 am) JoeyTSA :watch for move
either way
(11:26 am) JoeyTSA :bit of a
market sell off
(11:31 am) JoeyTSA
:haha, i forgot all about
ONTX
(11:32 am) JoeyTSA :Ed only has 7
fingers 🙂
(11:32 am) Ed
:7.1
(11:33 am) JoeyTSA :the updated
version 🙂
(11:33 am) Ed ::)
(11:39 am)
Ed :nice call joey on OKE over 50
(11:40
am) JoeyTSA :thx, nice breakout over
$52 a few minutes back also
(11:40 am) Ed
:yep like playing those levels, case u missed
stock
(11:41 am) Ed :this way u can play
with low risk
(11:41 am) JoeyTSA :agree,
you know quickly if you are wrong
(11:46
am) Qwert :So Ed or Joey if you go long on
OKE over 52 how tight do you have your stop
on that type of trade?
(11:46 am) JoeyTSA
:qwert, usually 20-25c
(11:47 am)
JoeyTSA :depends on where my profit target
is, and also how the chart is laid out
scaling wise…
(11:47 am) Ed :only stocks
under 60, I will use 52.09 for entry and
51.91 for stop
(11:47 am) JoeyTSA :i easy
to eyeball the dotted horizontal
lines
(11:48 am) JoeyTSA :right, also
depends on where your entry is
(11:48 am)
Ed :rather I use .09 to -13 for entry over
whole number
(11:48 am) Qwert :okay thanks
guys
(11:48 am) Ed :and like joey says
about .17 to .20 stop
(11:48 am) JoeyTSA
:51.60 had more s/r , but was a bit far away
for me to use on a scalp
(11:49 am) Ed :If
I go 1/4 of position I may give more
room
(11:49 am) JoeyTSA :decent area if
you think it might run $1.50 +
(11:49 am)
JoeyTSA :good point Ed, position size can
alter things
(11:50 am) Ed :or just wait
for pullback to ma’s also. So number of ways
one can play
(11:50 am) Qwert :i dont play
a lot of breakouts but would like to add to
the tool box 🙂
(11:50 am) Ed :best
to go small size on breakouts, as % basis
they seem like about 50% on probability
scale
(11:51 am) Ed :joey may have
different take, but looking back thats what i
have found
(11:51 am) JoeyTSA :yeah Ed,
you can enter half on teh breakout, add on
pullback and hold of the breakout
area
(11:52 am) Ed :now flipsdie is lot of
them do work out, its just buying breakout
and sometimes will pullkack stop you out and
resurge later in day
(11:52 am) JoeyTSA
:plus OKE had been strong all day
(11:52
am) Qwert :i have had that happen on numerous
occasions
(11:53 am) Ed :Like TRIP quick
breakout then pulled back, so had to have
quick fingers on TRIP first thing this
am
(11:53 am) Ed :but TRIP gave nice
pullback
(11:53 am) Qwert :and volume on
OKE is really high today
(11:53 am)
JoeyTSA :same basic technique works for swing
trades on stocks making new
3month,6month,52wk highs etc
(11:54 am) Ed
:now like on OKE my buy over 53 did not
trigger
(11:54 am) Murano :Have an issue I
have to handle. See you
tomorrow.
(11:55 am) Qwert :did it miss
you by only 1 cent?
(11:55 am) Ed :ok c ya
murano
(11:55 am) JoeyTSA :bye murano,
hope all is ok
(11:55 am) Ed :yep just 1
cent
(11:55 am) Ed :but either way if had
triggered way stock reactied off 53’s i would
have stopped
(11:55 am) herman :bye
murano
(11:55 am) Qwert :so your using buy
stop orders for the breakouts?
(11:55 am)
Ed :knowing me I would have quickly reversed
for short
(11:56 am) JoeyTSA :one thing on
a 52wk high swing, you can enter half but use
options to lower your investment, then
add on any pullback..so many ways to do
things
(11:56 am) Ed :know I have quick
fingers
(11:56 am) Ed :know=no
(11:56
am) JoeyTSA :7.1 of them haha
(11:56
am) Ed :sometimes i will though
(11:56 am)
Ed :lol
(11:56 am) Qwert :so using hot
buttons?
(11:56 am) Ed :yes
(11:57 am)
Ed :hot fingers
(11:57 am) JoeyTSA :safest
way to play breakouts is let it break and
pullback/hold, then enter…only risk is
either small loss or missed trade if no
pullback
(11:58 am) Qwert :how much will
you go past the price to get filled 2-3
cents?
(11:59 am) Qwert :i have hot
buttons set to 3 cents max
(11:59 am)
JoeyTSA :sometimes i get in b4 the breakout,
gunsling it a bit..not a recommendation
though
(12:00 pm) Qwert :understand thanks
for the help
(12:00 pm) JoeyTSA :profit
target has a lot to do with it for
me…
(12:01 pm) JoeyTSA :if i see $1
move, i will go 15-20 past breakout
area at times
(12:01 pm) Qwert :so ideally
would have consolidated there just under or
around 53
(12:02 pm) JoeyTSA :i didnt take
it, but that was a very nice setup for a
short on OKE
(12:02 pm) JoeyTSA :dbl top,
neg div
(12:03 pm) Qwert :yeah real nice
setup for short i didnt take it
either
(12:03 pm) JoeyTSA :something else
i am trying to implement more is
conjunction…
(12:03 pm) JoeyTSA
:sometimes best setups fail, can be due
to outside circumstances
(12:03 pm) Qwert
:what is that joey
(12:04 pm) JoeyTSA :ie:
a bearish setup in a bullish
environment
(12:04 pm) Qwert :okay
thx
(12:05 pm) Ed :or the trader who is
not participant yet, sitting on sidelines
waiting to enter with hi power ball money
just won
(12:05 pm) JoeyTSA :overall you
want to put more positive things on your
side
(12:06 pm) Ed :I agwee
(12:06 pm)
JoeyTSA :haha
(12:07 pm) Qwert :yeah we
want his money :))
(12:07 pm) Ed
:right
(12:08 pm) JoeyTSA :and the hardest
thing about all of this is that sometimes you
dont get much time to decide
(12:09 pm)
JoeyTSA :esp on fast movers
(12:11 pm) Ed
:was waiting for 82 area to crack and missed
it
(12:12 pm) JoeyTSA :nice pop on
/GC
(12:12 pm) Ed :yep
(12:13 pm)
JoeyTSA :gave nice signal off the pp about
40+ min ago, didnt see it
(12:14 pm)
Qwert :have to restart back in a
minute
(12:15 pm) JoeyTSA :AMZN over $303
now
(12:27 pm) JoeyTSA :took my eye off of
OKE, missed nice long
(12:31 pm) JoeyTSA
:Thanks Mitch,Ed,Qwert,everyone..nice
trading, hope you all have a great
afternoon, see you in the
morning
(12:31 pm) JoeyTSA :thx Ed for
info
(12:31 pm) Ed :c ya joey
(12:31
pm) Qwert :bye joey thx for helping
(12:32
pm) JoeyTSA :no prob qwert
(12:41 pm)
herman :sat back and listened ,very
educational thanx for all the good trades see
everyone in am
(12:42 pm) Ed :c ya
herma
(12:42 pm) Ed :herman
(12:53 pm)
Qwert :bye everyone cya all in the am a great
day :))
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