(06:16 am) Mitch :Premarket UP: FOSL, KORS,
ININ, STAG, SAP, CTSH, BSFT, NSM, NFLX,
NVS, ENDP Premarket DOWN: ALLT, TRW, AEO,
PDCE, REGN, GLD, PRLB, MDR, IBM, PAMT, PDCE,
TA
(06:26 am) JoeyTSA :watching KORS
here
(06:29 am) Mitch King:uptrend would
mean buy on dips and not short
(06:29 am)
Mitch King:looking for CL 09 to move up but
could retest the 106.15 area again.
Acting like it wont and we likely have a
trend reversal moving upward, an
uptrend
(06:30 am) Mitch King:watching
GOLD drop
(06:30 am) Mitch :watching
EXPD
(06:31 am) Mitch :watching
PAA
(06:31 am) Mitch :watching
NEM
(06:31 am) Mitch King:watching CTSH
for trades
(06:31 am) Mitch :watching
NSM
(06:31 am) Mitch King:watching
IBM
(06:31 am) Mitch :watching
ENDP
(06:31 am) Mitch King:watching
ANF
(06:31 am) Mitch :watching
VCRA
(06:32 am) JoeyTSA :/ES having issues
with S1 res at the moment
(06:32 am) Mitch
:watching FL
(06:32 am) Mitch
King:watching SPEX again today
(06:32 am)
Mitch :monitoring CVS
(06:33 am) Mitch
King:DISH moving up
(06:33 am) Mitch
:monitoring DISH
(06:33 am) JoeyTSA :AMZN
lost $300, watching for bottom
(06:33 am)
Mitch King:monitoring HDB
(06:33 am)
JoeyTSA :watching ANF also
(06:33 am)
Mitch :watching VLO
(06:33 am) JoeyTSA
:eye on VLO
(06:33 am) Mitch King:watching
KSS
(06:34 am) Mitch :watching
BSFT
(06:34 am) Mitch King:watching
ACM
(06:34 am) Mitch King:watching
KAR
(06:34 am) Ed :on FOSL having issue
with 125 so far
(06:34 am) Ed :Keep eye on
145 level TSLA
(06:35 am) Mitch King:CL 09
needs to break above 106.40 soon or
sell
(06:35 am) Ed :STXS monitor for
trades was active yesterda
(06:35 am)
Mitch King:FOSL up 15%
(06:35 am) Mitch
King:watching FOSL
(06:36 am) Ed
:MNKD
(06:36 am) Mitch King:watching MON,
MOS, AGU, same category, agricultural
chemicals
(06:37 am) Mitch King:watching
ADM for short on top of bounce, take time, no
hurry
(06:37 am) JoeyTSA :eye on ENDP for
bottom
(06:37 am) Ed :MNKD alert for
advance traders
(06:37 am) Mitch
King:monitoring HOLX
(06:38 am) JoeyTSA
:KORS nice pullback
(06:38 am) Mitch
King:monitoring VLO
(06:38 am) Mitch
King:sold CL 09
(06:39 am) Ed :just
monitoring would like more selling
(06:39
am) Ed :TSLA
(06:40 am) Mitch :watching
TAP
(06:40 am) Ed :SPY new lod
(06:40
am) Ed :also on MNKD if u were able to long
would reduce
(06:40 am) Ed :on STXS if u
were ablt to get long would reduce
(06:42
am) JoeyTSA :tighten ENDP if long
(06:43
am) Mitch King:monitoring KORS,
(06:43 am)
Mitch King:watchign CVRR
(06:44 am) Mitch
King:watch SPEX for short soon
(06:44 am)
Mitch King:consider selling SPEX
(06:44
am) Mitch King:watching ADM closer
(06:44
am) Mitch King:more downside on
VOLC
(06:45 am) Mitch :monitoring
TSO
(06:46 am) Mitch King:CL 09
(06:46
am) Mitch King:looking for bigger bounce with
CL over next hour
(06:46 am) Ed :with TSLA
to help avoid false long signal best wait for
test, and retest of lod
(06:46 am) JoeyTSA
:eye on FSLR for bottom
(06:47 am) Mitch
:monitoring FE
(06:48 am) Mitch
:monitoring HCN
(06:49 am) JoeyTSA :CTSH a
bit weak
(06:49 am) Ed’s assistant
:Monitoring AMGN
(06:51 am) Mitch
:monitoring VSI
(06:52 am) JoeyTSA
:tighten if short /ES on loss of
support
(06:52 am) JoeyTSA :eye on /GC,
just watching
(06:58 am) JoeyTSA :tighten
CTSH if long, i didnt take it
unfortunately
(07:00 am) Ed :-
(07:00
am) Ed :US) AUG IBD/TIPP ECONOMIC OPTIMISM:
45.1 V 47.5E
(07:01 am) Ed :on V, Im
looking to go against trend, which is
advanced trade
(07:01 am) Ed :V
monitoring
(07:02 am) Ed :going against
trend is not for all traders
(07:02
am) Ed :FOSL new hod
(07:03 am) Ed :the
Best plan of action and most money is playing
trend. Also if ur having difficulty in being
consistent in ur trading
(07:04 am) Ed
:SPY testing lod
(07:06 am) Ed :reducing
3/4 V long
(07:07 am) Ed :so Im sure some
will ask why do i play the reversal, well for
me I spent ton of time effort study learning
to play reverdals and I enjoy them. It aslo
give me another tool in chest in case I miss
the trend play
(07:09 am) Ed :But I think
for those having difficulty I think best
course of action is playing direction of
trend and picking one strategy and perfecting
it. Becoming a specialist. Even if it means
ur setup only happens once per day. Food for
thought
(07:22 am) JoeyTSA :eye on AMT @
$71, not a trade just yet but might
setup
(07:22 am) Mitch :AKRX
toppy
(07:22 am) Ed :also for those
trading stocks, it helps to have a chart of
SPY (represents S & P 500). Use it as
proxy, if SPY has downtrend like to today and
ur buying long you are going against overall
trend. As saying rising tide lifts all ships.
This hold true for S & P as it is the
waters and stocks are the ships
(07:23 am)
Mitch :watching KORS again
(07:23 am) Ed
:Same approach if SPY is in uptrend and you
are shorting you are going against overall
trend.
(07:24 am) Ed :ok Im back to
scanning
(07:24 am) Ed :so as we call out
looking for longs as example you want to time
your buys with bottoming in SPY and stock as
it turns from downtrend to
uptrend
(07:30 am) JoeyTSA :CELG falling a
bit
(07:31 am) Qwert :spy new
lod
(07:31 am) Ed :lower low on
SPY
(07:34 am) Mitch :monitoring
EXH
(07:54 am) Ed :SPY nearing
lod
(07:59 am) Ed :SPY new lod
(07:59
am) Ed :feels like more of lack of buyers
rather than selling so far
(08:00 am) Ed
:rather lack of strong selling
(08:04 am)
Mitch :monitoring NQ
(08:04 am) Murano
:watching HIMX
(08:09 am) Qwert
:monitoring LNKD
(08:18 am) Mitch
:watching TRIP
(08:19 am) Mitch :watching
TDW
(08:32 am) JoeyTSA :ACM weak, watching
for potential bottom
(08:38 am) JoeyTSA
:eye on PBF
(08:41 am) Mitch King:for
about 10-15 ticks
(08:41 am) Mitch
King:micro long here on CL 09
(09:18 am)
Mitch King:there is a 130 introductory that
you dont need to come to because that is for
people who do not have lightning
(09:18
am) Mitch King:hey guys, anyone who has
lightning, we will have a webinar tomorrow at
3pm pacific time to go over settings for
lightning version 3
(09:20 am) Mitch
King:with login instructions
(09:20 am)
Mitch King:no qwert, we will email you later
today
(09:41 am) Qwert :watching
GMCR
(09:59 am) Qwert :AEO spike
(10:29
am) Murano :watching ARO
(10:37 am) Ed
:EBIX Said to be under investigation for
possible money laundering – financial
press-
(10:37 am) Ed :EBIX
(10:48 am)
Mitch King:looking for bounce in CL
09
(10:57 am) Ed :should be available by
2pmest
(10:57 am) Ed :BATS main exchange
is said to be not accepting orders currently
– press – BATS is currently investigating a
system issue on its BZX exchange –
(11:04
am) Ed :Market Internals update at 14:00ET –
NYSE volume 332M shares, about 7% below its
three-month average; decliners lead advancers
by 3.4:1. – NASDAQ volume 970M shares,
about 8% below its three-month average;
decliners lead advancers by 2.3:1.
(11:14
am) Ed :if anyone took EBIX long would
reduce
(11:17 am) JoeyTSA :eye on ALXN,
spotty vol
(11:28 am) JoeyTSA :ALXN not
ALSN
(11:28 am) JoeyTSA :tighten ALSN if
you took that long
(11:54 am) JoeyTSA :MOS
vol spike
(11:55 am) Ed :EBIX Comments on
False and Inaccurate Assertions in Bloomberg
Article – Ebix has issued the following
statement in response to an article regarding
the Company:
(11:57 am) Ed :URKA.RU
Hearing chatter Uralkali is considering
rejoining Russian potash cartel (related MOS
CF BG POT CMP AGU TNH IPI SOIL SQM.A.CL
AGU.CA SQM )
(12:45 pm) Qwert :FE
spike
(01:00 pm) Ed :have great eve
traders
(01:01 pm) Mitch King:later
guys
| (06:16 am) felix3 :Lightning is not
working in the Ninja trader. I can not seem
to set it up like this
(06:16 am)
herman :gm all
(06:16 am)
skydiver :gm all – thnx for gappers
Mitch
(06:17 am) Mitch King:Felix, someone
will have to call you a little later, cant
help you right now
(06:17 am) Mitch
King:Felix, check your private
message
(06:21 am) Mitch King:felix3, a
private message comes with a sound and
another tab next to the userchat tab and it
flashes when you have a message
(06:24 am)
JoeyTSA :Good morning everyone, nice to be
back
(06:24 am) skydiver :welcome
back joey!
(06:24 am) JoeyTSA :thanks,
trying to get my bearings again
(06:24 am)
skydiver :understood — missed ya but
hope you did well on your trip 🙂
(06:25
am) Murano :welcome back joey
(06:25 am)
JoeyTSA :yes great trip, watching
1697,1704 on /ES
(06:26 am) Qwert :Good
morning everyone, welcome back joey
(06:27
am) Ed :good morning
(06:27 am) JoeyTSA
:thx qwert,murano../GC making decent swings,
eye on /CL 106-15 support area
(06:28 am)
skydiver :FOSL spiked up for a
second
(06:29 am) JoeyTSA :good catch sky,
definately on the radar today
(06:29 am)
skydiver ::)
(06:29 am) elisha
:gm all – welcome back joey
(06:29 am)
skydiver :thnx Mitch
(06:32 am)
skydiver :watching AEO
(06:34 am)
JoeyTSA :Ed: hope you played TSLA while i was
gone 🙂
(06:35 am) Ed :yes
(06:35
am) JoeyTSA :BIDU nice hold at $133, watch
what happens near $135
(06:37 am)
skydiver :watching
(06:37 am)
JoeyTSA :AAPL trying to break over
$470
(06:39 am) skydiver :nice on
KORS joey
(06:39 am) skydiver :TSLA
– big drop
(06:39 am) JoeyTSA :i didnt get
it though, started watching something
else
(06:40 am) skydiver :i missed
TSLA drop
(06:40 am) skydiver
:watching TSLA to go long
(06:40 am)
skydiver :eventually
(06:42 am)
skydiver :long TSLA – tight
stop
(06:45 am) skydiver :humm —
bit risky of a trade on my part – stopped
out
(06:45 am) skydiver
:TSLA
(06:46 am) skydiver :thnx Ed
— learning 🙂
(06:47 am) Ed :its a
patience type trade
(06:48 am) JoeyTSA :i
hadnt gotten an oversold signal on TSLA,
until last couple bars
(06:48 am)
skydiver :I let emotions take over . .
. bad sky bad sky
(06:48 am)
JoeyTSA :even then not usre its done selling
though
(06:49 am) JoeyTSA :remember, even
perfect signals/setups still fail from time
to time
(06:49 am) skydiver :yes . .
you are rifght joey 🙂
(06:49 am)
skydiver :right
(06:51 am)
skydiver :monitoring CF – seems to be
tracking SPY downward move
(06:52 am)
running :Joey… what is a perfect
setup?
(06:52 am) JoeyTSA :not sure
hahah
(06:53 am) JoeyTSA :kind of depends
on how you trade i guess…
(06:53 am)
running :how boyt a good one?
(06:53
am) JoeyTSA :basically i would define it as a
trade setup with the most “positive” factors
on your side
(06:54 am) running :can
u give a for an example… I am
struggling?
(06:55 am) JoeyTSA :for a long
setup, stock price extremely oversold while
sitting on a strong support level,
making pos divergence while the market is
starting to get overall buying, or something
to that effect, but they dont always
come around like that
(06:55 am) JoeyTSA
:if i see a chart that jumps out i will
mention it to you as an example
(06:55 am)
running :thx
(06:56 am) JoeyTSA
:today seems more like lower highs are in
order at the moment, but things can change
very fast
(06:56 am) JoeyTSA :thats why
Mitch uses the term ” be flexible”
(06:57
am) JoeyTSA :but you can have everything in
your favor, and the stock can still go
against you..so as traders we have to know
our risk level
(06:58 am) JoeyTSA :both
financially and emotionally
(06:58 am)
skydiver :good teaching joey
🙂
(06:59 am) JoeyTSA :so stop losses,
position sizing comes into play in those
areas
(07:00 am) JoeyTSA :running ; best
advice would be to pick 1 or 2 easier setups
to look for to start out with, maybe
look for higher lows or lower highs for
example
(07:02 am) skydiver :thnx
for FOSL Ed – jumoped on late but working on
long
(07:03 am) skydiver :3/4 out of
FOSL long
(07:04 am) Ed :nice trading sky
on FOSL
(07:04 am) skydiver :thnx Ed
. . and thnx for putting my eyes on FOSL
🙂
(07:04 am) JoeyTSA :agreed Ed on
playing trend
(07:05 am) JoeyTSA :/ES
sitting on S2, eye n /CL support of
105.30 also
(07:08 am) skydiver
:Tools in chest are nice to have Ed
🙂
(07:08 am) JoeyTSA :unfortunately when
you only have a hammer, everything looks like
a nail 🙂
(07:09 am) skydiver :good
one joey 🙂
(07:09 am) JoeyTSA :thats
usually what causes most of my losing
trades
(07:09 am) JoeyTSA :great advice
Ed
(07:10 am) skydiver :yes – great
advice — now to work at applying all this
good teaching this morning 🙂
(07:11 am)
Ed ::)
(07:11 am) skydiver :hope
you’re taking notes running .. good stuff
🙂
(07:31 am) akram :fslr
(07:34
am) JoeyTSA :break time, see you in
20
(07:35 am) skydiver :see ya
joey
(07:45 am) skydiver :got to
head into office . . thanks again for great
calls and great teaching and advice.
Might be on around closing.
🙂
(07:45 am) Ed :c ya sky
(07:45 am)
skydiver ::)
(07:45 am) Qwert :bye
sky
(08:07 am) doji :Hi
fellas
(08:07 am) Ed :hey doji
(08:07
am) Murano :hello doji
(08:07 am)
doji :Hi Ed, Murano
(08:08 am)
doji :Try to connect early in the
morning but quite busy here
(08:08 am)
doji :I am riding my long in UVXY bough
32.83….
(08:10 am) doji :Tisked
only 30 cents after ilhedl its pivot at
9:40AM…
(08:10 am) doji
:Risked
(08:11 am) Ed :nice
trading
(08:11 am) doji :228.80 in
LNKD was the gap’s lower in Earning
day
(08:12 am) doji :Thanks
Ed
(08:20 am) Murano :covered 3/4
HIMX stop on
last 1/4 6.77
(08:28 am) JoeyTSA :eye on
TSLA here at $144
(08:38 am) JoeyTSA
:sorry Ed,Diosnas, just saw you had the chart
up
(08:40 am) Ed :no biggie
(08:45 am)
JoeyTSA :actually calling it a day, way too
much stuff to catch up on from being away,
might try to catch the last hour or so
though..
(08:46 am) JoeyTSA :thanks
Mitch,Ed,Diosna,Murano,Qwert, everyone..nice
to be back 🙂
(08:46 am) Mitch King:later
joey
(08:46 am) Ed :c ya joey
(08:46
am) Murano :see yoiu Joey
(08:46 am) Qwert
:bye joey
(08:47 am) Murano :SPR on nice
rebound from earlier drop
(09:00 am)
akram :unxl
(09:14 am) felix3
:my lightning signals are not reacting like
yours Mitch
(09:17 am) Mitch King:it is
all settings you configure felix to get the
results you are looking for
(09:18 am)
Qwert :Do we need to sign up Mitch?
(09:19
am) Mitch King:felix, the charts you are
looking at on the projector in this trading
room are from Ed’s desk, not mine
(09:20
am) Qwert :okay thanks Mitch
(09:30 am)
Mitch King:felix, another thing is Ed has
added additional indicators that he likes
too
(09:43 am) Ed :thx qwert
(09:44 am)
Qwert ::)
(09:45 am) Ed :the 81.5 was nice
quick long
(09:45 am) Ed :once u posted i
played
(09:47 am) Qwert :yes for the
breakout on the daily
(09:55 am) Ed :nice
pullback or short for scalpers
(09:57 am)
Qwert :did u flip for short Ed on
GMCR
(09:58 am) Ed :could not gtet
shares
(10:02 am) Qwert :i did not try
still have 1 sided thinking at
times
(10:04 am) Ed :takes time to break
that habbit
(10:04 am) Murano :Lightspeed
had shares to short Qwert
(10:05 am) Qwert
:i didnt even look Murano thats what i am
saying sometimes my thinking still gets one
sided
(10:06 am) Murano :it is best to
trade what you are comfortable with
(10:15
am) Murano :I think OCR is getting close to
the end of it’s string
(10:23 am)
herman :vips
(10:23 am) Qwert :OCR
still going
(10:23 am) Murano :long
string
(10:24 am) Qwert :great long when
it went back thru open
(10:26 am) Qwert
:AMZN approaching hod
(10:32 am)
herman :vips in 47.62 out
47.03
(10:33 am) Qwert :nice trade
herman
(10:57 am) Qwert :i saw that
Ed
(10:58 am) Qwert :OCR finally at least
going sideways
(11:16 am) JoeyTSA :AAPL
lod
(11:18 am) Murano :If you took OCR
short would cover some in this area
(11:21
am) Ed :nice patient trade murano
(11:21
am) Murano :I didn’t think the string was
ever going to run out
(11:22 am) Ed :i
know what u mean
(11:22 am) Mitch
King:good one murano
(11:24 am) Murano
:covered all OCR
(11:25 am) Qwert :OCR was
a beauty perfect for lightning 3 min
chart
(11:27 am) Murano :OCR ran right up
to R3
(11:27 am) JoeyTSA :tighten AAPL if
long
(11:35 am) doji :Back to the
room
(11:36 am) doji :I’ll swing a
small piece of UVXY… from my early
entry
(11:37 am) JoeyTSA :weds earnings
names:
GMCR,GRPN,TSLA,RIG,DUK,ARIA,CLH,FIO,AOL,RL,PR
U,SCTY,MIB,XOMA
(11:39 am) Ed :during
great economic growth people drink wine,
during tough times they drink beer. Thats why
TAP is doing well today
(11:39 am) JoeyTSA
::)
(11:40 am) Qwert :was looking at TAP
on the daily
(11:42 am) Qwert :Ed whats
your opinion of possible swing trade on AEO I
still have swing size left from this am,
trying to decide if I should keep it or
not
(11:42 am) Ed :not that I drink either
I just follow markets
(11:42 am) Ed :whats
ur entry
(11:43 am) Qwert :16.68
(11:43
am) JoeyTSA :was that drop because of
earnings?
(11:44 am) Qwert :yes bad
forecast and report
(11:44 am) Ed :ok
makes it easy. I would sell 3/4 of long,
t
(11:44 am) JoeyTSA :at least you got a
great entry, worst case is you break
even
(11:45 am) Qwert :right now i just
have stop under open price
(11:45 am) Ed
:then use the closing low of 16.71 so ur
breakevn rather than giving back some
momey
(11:46 am) JoeyTSA :Ed probably has
better thoughts on that, i would put stop
either at entry or push it up a bit so even
if it drops you have a small
profit?
(11:46 am) Qwert :okay
thx
(11:47 am) Ed :but by selling that 3/4
u bank some since u got basically a 3.3% move
which is still good for swing
(11:48 am)
JoeyTSA :and in this economy, use that money
to buy beer like Ed said haha
(11:48 am)
Qwert :okay will do thx again
(11:48 am)
Ed :lol
(11:48 am) Qwert :six pack lasts
here about 6 months
(11:49 am) JoeyTSA
::)
(11:49 am) Qwert :u think 18 is a
reasonable tgt for the rest
(11:49 am)
JoeyTSA :AAPL lots of fighting at $465 area
today
(11:50 am) Ed :yes thats
reasonable
(11:50 am) Qwert :okay thats
where i put it at
(11:51 am) JoeyTSA :on
that AEO daily chart, looks like you can use
the .50 lines as targets/steps
(11:51 am)
Ed :agree joey
(11:51 am) Qwert :okay thx
joey
(11:51 am) JoeyTSA :if it hits $18,
put stop at 17.50, if gets to 18.50, then 18
etc etc
(11:52 am) Qwert :will
do
(11:52 am) JoeyTSA :$20 would be
obvious main res area as a max
(11:53 am)
Qwert :knowing myself i would be surprised if
i had any left by there 🙂
(11:53
am) JoeyTSA :at least you take a chance on
swings, thats more than i can say for
me
(11:53 am) so :IPI
great
(11:54 am) Qwert :joey only because
i forgot about it and now have very small
position
(11:54 am) JoeyTSA :nice one
so, that sector just got a
pop
(11:54 am) JoeyTSA :AGU also
popped
(11:56 am) Qwert :is anyone still
in EBIX long?
(11:58 am) JoeyTSA :thx
Ed
(12:00 pm) so :i sold ebix by
10.80
(12:00 pm) Qwert :nice so
(12:01
pm) so :thx
(12:07 pm) Qwert :Nice
CL call Mitch
(12:19 pm) herman :bye
everyone it was a good day thank you
all
(12:20 pm) Ed :c ya herman
(12:20
pm) JoeyTSA :bye herman
(12:29 pm) JoeyTSA
:calling it a day, Thanks
Mitch,Ed,Diosnas,Murano,Qwert,traders..
(1
2:29 pm) JoeyTSA :have a great day, see you
all tomorrow
(12:29 pm) Ed :c ya
joey
(12:29 pm) Qwert :Cya joey good to
have you back
(12:30 pm) JoeyTSA :thanks,
real nice to be back, just so much to
catch up on
(12:48 pm) Murano :done for
the day, see you tomorrow
(12:48 pm) Ed :c
ya murano
(12:49 pm) Qwert :bye
Murano
(12:57 pm) Qwert :Looks like short
covering in AEO
(01:00 pm) Qwert :bye
everyone
|
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