| (05:35 am) JoeyTSA :early gap down: ADHD,
SNSS, EZCH, SLXP
(05:35 am) JoeyTSA :early gapup: BRZU, EWZ,
DRTX, CFN, HPQ
(05:36 am) JoeyTSA :levels: /ES 1956-1970;
/CL 89.90-90.20; /NQ 4025-4034
(06:32 am) Mitch King:watching SPLK for top
to short
(06:33 am) JoeyTSA :eye on MBLY
(06:33 am) Qwert :watching HRB
(06:33 am) Qwert :monitoring LNTA
(06:33 am) Mitch King:watching LINTA
(06:34 am) Mitch King:watching HRB, too late
to buy, didnt see
(06:34 am) Mitch King:watching PBR for bottom
to buy
(06:35 am) Mitch King:monitoring DATA
(06:36 am) Regatta :watching CSTM
(06:37 am) Mitch King:watching DGLY
(06:39 am) Mitch King:watching DATA for top
to short soon
(06:39 am) Qwert :monitoring EXPE
(06:43 am) Mitch King:watching NQ 12-14 for
bottom, 2nd bottom, quick trades
(06:53 am) Mitch King:watching NQ 12-14 for
bottom to buy again
(06:53 am) Mitch King:DWRE starrting to
breakdown for short, maybe swing short
overnight
(07:01 am) Mitch King:this is the stock that
has Carson Block from Muddy Waters shorting
it, calling it a fraud
(07:01 am) Mitch King:NQ rumor that they
received financial accounting audit signoff
(07:06 am) Regatta :watching DECK
(07:06 am) Mitch King:monitoring CSTM slow
drop, would be interested in looking at long
around 21.64
(07:08 am) Mitch King:just saw low priced
stock ISNS active, high of day
(07:10 am) JoeyTSA :/CL trickling down at the
moment
(07:11 am) Qwert :CSTM at 21.65
(07:53 am) Mitch King:expecting NQ 12-14 to
bounce
(07:54 am) Mitch King:NQ may not bounce
considering how far it went up thursday and
friday
(08:09 am) Mitch King:WUBA rumor
(08:46 am) JoeyTSA :/NQ into 4000area
(09:00 am) Murano :monitoring RIO
(09:02 am) Mitch King:08:59 [RIO] Reportedly
Glencore is said to be discussing possible
joint bid with Chinalco for Rio Tinto – press
– Source TradeTheNews.com
(09:11 am) Mitch King:watching RIO for
bounce
(09:35 am) Mitch King:ebola tested positive
in Spain, nurse infected
(09:46 am) JoeyTSA :/ES to test 1950 now
(10:20 am) Mitch King:JNUG starting to move,
wouldnt short it, long idea
(10:48 am) Qwert :CMRX moving
(10:49 am) Qwert :Texas officials saying the
Ebola patient receiving CMRX’S drug
(11:01 am) Mitch King:that caused 2nd spike
(11:01 am) Mitch King:CNBC doing story on
CMRX drug
(11:50 am) Mitch King:HLF spike
| (05:31 am) Qwert :Good morning Mberl
(05:32 am) JoeyTSA :good morning Qwert,mberl
(05:43 am) george :GM all
(05:45 am) Murano :good morning
(05:47 am) klas :good Morning
(05:54 am) toby1115 :gm
(05:57 am) skydiver :gm everyone – and
thanks joey for gappers and info
(06:08 am) skydiver :ADHD – Alcobra drops
after four patients excluded from data
calculation
(06:10 am) Qwert :saw that sky the four
patients were given a placebo
(06:13 am) skydiver :thanks qwert
(06:19 am) skydiver :DRTX – Actavis to
acquire Durata Therapeutics for $23.00 per
share or $675M
(06:28 am) Qwert :PBR really moving around
(06:28 am) JoeyTSA :yeah, lots of vol too
(06:29 am) Qwert :yeah trading like its open
(06:44 am) JoeyTSA :/NQ very active so far
(06:47 am) skydiver :Nice trending up on
EXPE – looking for a short
(06:49 am) skydiver :W – missed move up –
(06:51 am) Mitch King:that was new ipo
Wayfair last thursday sky
(06:51 am) skydiver :taking 3/4 off the
table on EXPE short
(06:51 am) Qwert :nice trade sky
(06:52 am) Mitch King:what time do you have
to leave sky?
(06:52 am) Mitch King:i was going to explain
something on a day trading
(06:52 am) skydiver :about 8:15am latest
Mitch but can jump on again at work
(06:52 am) skydiver :I can jump back on
around 9am at work
(06:55 am) skydiver :Thanks for MBLY joey –
long working
(06:55 am) skydiver :EXPE – may drop here
(06:56 am) skydiver :key word — may 🙂
(06:57 am) skydiver :a slooooow drop 🙂
(06:57 am) Qwert :hahaha
(06:57 am) skydiver ::)
(06:57 am) Qwert :always key word
(06:57 am) skydiver :right
(06:57 am) Mitch King:what was that stock
that expires next friday that had 5600 call
vol last week?
(06:58 am) Mitch King:was around 10 stock
strike price 14
(06:58 am) skydiver :sorry – I can’t help on
that one
(06:58 am) JoeyTSA :ACHN ?
(06:58 am) Mitch King:yeah that looks like
it
(06:59 am) Qwert :i think thats it joey good
pull
(06:59 am) JoeyTSA :still had it up on
another chart haha
(06:59 am) Mitch King:i wanted to explain
this NQ trade on the chart maybe in a half
hour from now
(06:59 am) skydiver :ok
(07:00 am) JoeyTSA :another /NQ test of 4033
area
(07:00 am) skydiver :I’m all out of MBLY
long here
(07:01 am) skydiver :now MBLY should be ab
le to move up further 🙂 but I’m happy with
profit – thanks again joey
(07:01 am) klas :Nice sky
(07:01 am) skydiver :thanks klas
(07:01 am) JoeyTSA :good job sky
(07:01 am) skydiver :all out of XPE short
(07:01 am) skydiver :EXPE that is
(07:02 am) skydiver :gotcha Mitch
(07:02 am) Qwert :lightspeed has no shares to
short of NQ
(07:04 am) skydiver :TSLA has their
announcement on the 9th ? if I recall
correctly
(07:05 am) JoeyTSA :cant remember, but i
think earnings season kicks off on wednesday
(07:05 am) skydiver :thanks joey
(07:08 am) Mitch King:yeah it read that too
joey
(07:08 am) Mitch King:you guys want to talk
about the NQ chart
(07:09 am) Mitch King:good day trading
lesson, micro trading, advanced
(07:09 am) Mitch King:i mean the NQ 12-14
futures on right, background chart
(07:09 am) Qwert :yes
(07:09 am) skydiver :yes
(07:09 am) Mitch King:what? GTAT files for
bankruptcy
(07:10 am) Mitch King:i think that might be
surprising market
(07:10 am) Mitch King:i think thats halted
now
(07:10 am) Mitch King:this is the Nasdaq
Futures Dec 2014 contract
(07:11 am) Mitch King:i don’t keep keep chart
spread out like this but i wanted to show you
it more closely
(07:11 am) Mitch King:the blue wedges
pointing right are long entries, sell long is
maroon wedges pointing left
(07:12 am) Mitch King:the blue wedges on 639
candle are not accurate as to what price it
entered when there are so many buy orders,
its the way Ninja shows entry prices but the
blue wedges should be stacked on top of each
other for more accuracy
(07:12 am) Qwert :looks like you killed it
Mitch
(07:12 am) Mitch King:so i didnt fill long in
that range it was more concentrated
(07:13 am) Mitch King:i ran this in a
simulator with idea i was going to show you
this anyhow so i went overboard on the size.
but if you can learn what i saw here, would
help you both in stocks and futures
(07:13 am) Mitch King:its what i call
compression when price went up alot to around
4040, then dropped quickly to 4033, very
quickly
(07:14 am) Mitch King:in this 638am candle i
have my crosshairs on, see where i am?
(07:14 am) Qwert :yes
(07:14 am) skydiver :ys
(07:14 am) Mitch King:so it dropped quickly,
much quicker than what we are seeing in the
last 3 candles in real time now
(07:15 am) Mitch King:i call that
compression, or when a spring gets compressed
and it wants to release. the setup is only
if stock or futures had moved up and then
corrected. not a short, but a long
(07:15 am) Mitch King:must have a move up,
then fast drop over half way down the
original gain
(07:15 am) Mitch King:so from 4029 to 4040,
then down 4032, making sense so far?
(07:15 am) Qwert :yes
(07:15 am) Mitch King:you can use fibonacci
retracement indicator but it gets too busy on
chart and you can learn to recognize this
(07:15 am) skydiver :getting there but yes
(07:16 am) Mitch King:so it is a fast drop, i
started buying at the bid, as it wen t down
below 4034, on that 2nd red candle at 638am
candle
(07:16 am) Mitch King:i carried it over into
the next candle which was green, sold lot of
it in same 1 min candle and into next and
peeled off through next 2 minutes
(07:17 am) Mitch King:see the red wedges, i
mean maroon wedges pointing left
(07:17 am) Qwert :yes
(07:17 am) skydiver :yes
(07:17 am) Mitch King:now look at 642am
candle, 2 red wedges pointing right, see
that? thats a short, then i covered at
bottom of next red candle pointing left,
thats a buy to cover a short
(07:17 am) skydiver :ok
(07:18 am) Mitch King:so first trade was
long, peeled off after the “spring is
releasing its energy. you can tell by the
speed again on the drop that it is a fast
quick compression worth watching
(07:18 am) Mitch King:again that is not,
repeat NOT what is happening right now. its
slow downtrend now
(07:18 am) Mitch King:i’ll explain what is
happening now with NQ and CL in a minute
(07:18 am) skydiver :k
(07:18 am) Qwert :thx mitch
(07:18 am) Mitch King:ok next fast
compression was at the 644am candle whre my
verticaal crosshairs are now,
(07:19 am) Mitch King:bot 3 long at bottom
of that, clicking BUY BID BUY BID, etc.
(07:19 am) Mitch King:now see my horizontal
cross hairs on next green candle with maroon
wedges pointing left?
(07:19 am) skydiver :yes
(07:19 am) Mitch King:i started to sell SELL
ASK button as it was rising
(07:20 am) skydiver :gotcha
(07:20 am) Mitch King:remember all this was
happening at quick speeds and thats the
setup, the speed and movement. this is high
advanced trading, high risk but worth
learning as day trader
(07:20 am) Mitch King:ok we are getting
compression now, fast drop, still not great
setup for long yet but soon,
(07:20 am) skydiver :k
(07:20 am) Mitch King:i wont go after this
but wanted to teach you this.
(07:20 am) Qwert :thx
(07:20 am) skydiver :great lesson!! thanks
(07:21 am) Mitch King:ok so at the top of the
645am candle and into the 646an candle you
see what?
(07:21 am) skydiver :yes
(07:21 am) Mitch King:maroon wedges pointing
right and you know what it means?
(07:21 am) Regatta :sell short
(07:21 am) Mitch King:right, im shorting
(07:21 am) skydiver :k
(07:21 am) Mitch King:it went up fast on the
646an candle, didnt show much strength over
the first high of 636-637am candle
(07:21 am) Mitch King:just shorted, clicking
SELL ASK as it rose
(07:22 am) Mitch King:then started covering
at bottom of 648am candle into 649 and 650am
candle
(07:22 am) Mitch King:following me so far?
(07:22 am) skydiver :yes
(07:22 am) Qwert :yes
(07:23 am) Mitch King:now 655am candle i
thought there was one more left, so you can
only see 2 entries, not as confident, not as
good setup but you can see entry there and 3
minutes later sold those 2 longs in the
658am candle, maroon pointing left
(07:23 am) Mitch King:there was one more good
one but i passed because it starts to not
work and i was distracted with another stock,
scanning stocks etc.
(07:23 am) Mitch King:its a high adrenalin,
high focus trading that goes away quickly, no
more setups now
(07:23 am) Mitch King:here is the results
(07:24 am) skydiver :wow – multi-taking fast
speed at it’s best 🙂
(07:24 am) Mitch King:99.14% win rate
(07:24 am) Mitch King:116 contracts round
trip 115 winners
(07:24 am) skydiver :wow and nice 🙂 now
to apply this
(07:24 am) Mitch King:99 profit factor
highest performance summary gives
(07:24 am) Mitch King:so you can see its
powerful, you see it early in the morning
600am premarket hours and maybe first hour
max
(07:24 am) klas :nice percentage
(07:25 am) Mitch King:i use this technique as
a “bonus money” or icing on cake to other
trades, but this is all i did
(07:25 am) skydiver :very nice
(07:25 am) Qwert :awesome stats
(07:25 am) Mitch King:do you like this? not
for everyone, sort of a skydiver mentality
(07:25 am) skydiver ::)
(07:25 am) Mitch King:quick fast, short hold
times
(07:26 am) Mitch King:dont use this technique
often, too dangerous, not great setups so
dont make it a staple of trading technique
(07:26 am) Mitch King:this chart here is
about what i have chart set at
(07:26 am) Mitch King:ok now this chart is CL
11-14
(07:27 am) Mitch King:this drop here on the
707am candle where crosshairs are is not
compression
(07:27 am) Mitch King:why?
(07:27 am) Mitch King:test question
(07:27 am) Mitch King:really important
distinction
(07:28 am) Mitch King:didnt have the first
move up and then down. this is at the
707-708am candle a drop, selling, not
compression, just selling, hard selling
(07:28 am) Mitch King:when you see that in a
stock or especially futures contract, it is
usually, a high percentage of time a
BEGINNING of a move.
(07:29 am) Mitch King:in which you jump on
that trend, in thise case, short
(07:29 am) Mitch King:difereent technique,
different mindset
(07:29 am) Mitch King:these are “tools in
yoru bag” of trading techniques
(07:29 am) skydiver :gotcha Mitch – now to
get this in my head with some practice
(07:29 am) Mitch King:if you try to buy long
on the bottom of this CL in 707-708am you
will lose most of the time, thats not
compression, especially with CL
(07:30 am) skydiver :ok
(07:30 am) Mitch King:ok so snapshot this CL
picture and i switch to NQ futures
(07:30 am) Mitch King:see 638am candle?
thats compression
(07:30 am) Mitch King:you can use the analogy
of bungie jumping too
(07:31 am) Mitch King:where rubberband gets
stretched out so much it has to rebound
(07:31 am) Mitch King:you may want to copy
chat by right clicking into the gray
scrollbar and copy then paste to word doc
(07:32 am) Mitch King:maybe take pictures of
charts and paste to word doc below and label
it compression trade lesson 10-6-2014
(07:32 am) Mitch King:this is not for
everyone, must have very fast entry and exit
platform
(07:32 am) Mitch King:ok see NQ bouncing
here?
(07:32 am) Mitch King:not good place to buy,
too late alreeady moved 7 points
(07:32 am) skydiver :yes
(07:32 am) Mitch King:you want to try to see
a quick pullback, money trade setup qwert
(07:32 am) Mitch King:if it doesnt happen, i
pass, i dont chase
(07:33 am) Mitch King:giving you professional
trading secrets, hehe
(07:33 am) Mitch King:ok here on NQ, dont
short this
(07:33 am) Mitch King:it may go down but odds
are not good neough
(07:33 am) Mitch King:enough
(07:33 am) Mitch King:im talking NQ futures,
not NQ mobile
(07:34 am) Mitch King:if stock or futures
dribbles back down slowly, not as good of a
long setup for money trade
(07:34 am) Mitch King:but it looks like that
4021 is the bottom for day and if you missed
it, let it come down half way from that
rise?
(07:34 am) Qwert :i love that money trade
setup its the only trade i take on /CL
(07:34 am) Mitch King:is this making sense?
(07:34 am) Mitch King:i hope so because this
is a 5 start tip, out of 5
(07:34 am) Mitch King:star
(07:34 am) skydiver :awesome Mitch
(07:35 am) Mitch King:its all high risk but
pattern recognition and price action is what
makes this work, stay on simulator on
practice for quite a long time
(07:35 am) Mitch King:hope that helps
(07:35 am) skydiver :will be practicing for
sure
(07:36 am) Mitch King:nice call on GLW
someone
(07:36 am) Mitch King:oh one more thing
(07:36 am) Mitch King:on that compression
trade setup, fast action, you have to know
when to turn it off. when to back away from
doing that same technique
(07:36 am) Mitch King:it does not keep
working, as you can see
(07:37 am) skydiver :ok
(07:37 am) Mitch King:thats the lesson i was
telling you skydiver where you cant always
push the ATTACK button, when to manage
yourself differently at different times
(07:37 am) Mitch King:not all aggressive, not
all passive.
(07:37 am) skydiver :gotcha Mitch – I have
learned that the hard way at times
(07:37 am) Mitch King:times to be aggressive
and decisive, times to be cautious and choosy
or picky
(07:37 am) skydiver :ok
(07:38 am) Mitch King:if you use compression
all the time, you will lose eventually
(07:38 am) Mitch King:its an occasional
setup
(07:38 am) skydiver :k
(07:38 am) Mitch King:on the CL comments i
made of that 707-708am pacific time drop,
that should be watched often as a beginning
of a trend, in thise case short, can be long
too
(07:38 am) Qwert :i am always more aggressive
early, more cautious later, and always try to
be choosy
(07:39 am) skydiver :Waldorf Astoria sold to
the chinese – good points qwert
(07:39 am) Mitch King:yeah, you want to keep
yoru win rate up and profits retained in
account, not have thoughts of making 20,000
that day
(07:39 am) Mitch King:if you have greedy
thoughts, really screws you up
(07:40 am) Qwert :Mitch have you seen CSTM
(07:40 am) Mitch King:yeah i glanced at it
earlier, why?
(07:41 am) Qwert :just curious it really
dumped
(07:41 am) Mitch King:not real interesting to
me but you are more patient than i am
(07:41 am) Mitch King:esp after coming off
compression trades, hard to settle down and
be patient,
(07:41 am) Mitch King:i tend to do a Joey,
take breaks after
(07:43 am) skydiver :UCTT Clean drops after
GT advanced files for bankruptcy
(07:50 am) Mitch King:NQ compression trade,
here
(07:58 am) skydiver :thanks for awesome
lesson Mitch and great call as well everyone
— see you all tomorrow – might jmp on a bit
laterr at my office 🙂
(07:59 am) Qwert :cya sky
(08:01 am) Mitch King:i closed NQ long, weak
bounce
(08:01 am) Mitch King:remember we had 2 huge
up days in NQ futures, ES
(08:01 am) Mitch King:thursday and friday
(08:22 am) Mitch King:thats about as good of
a buyout rumor shorting the top as it gets,
goes lower than the starting point
(08:22 am) Mitch King:on WUBA
(08:34 am) JoeyTSA :/ES holdig 1960 at the
moment
(08:43 am) JoeyTSA :and there goes 1960
(09:00 am) Mitch King:yeah i saw that joey in
NQ too
(09:00 am) JoeyTSA :MBLY also had a nice
drop/pop
(09:01 am) JoeyTSA :nice one Murano
(09:01 am) Mitch King:MBLy was in the news
this weekend, i think article related to
apple being a supplier? not sure
(09:02 am) Murano :reduce RIO if long
(09:05 am) Mitch King:great one on RIO
muarno
(09:06 am) klas :Nice one Murano
(09:07 am) Murano :reduce RIO if short
(09:11 am) Murano :covered last 1/4 RIO
(09:17 am) Mitch King:Barclays making
cautious comments with MBLY
(09:36 am) JoeyTSA :so how did ebola get to
spain?
(09:45 am) Mitch King:nurse, i think joey
(09:46 am) JoeyTSA :what a mess
(09:46 am) Mitch King:i read this guy in
Dallas got worse over weekend
(09:46 am) Mitch King:DUncan
(09:46 am) JoeyTSA :yeah, critical condition
i think
(09:47 am) Mitch King:went higher i thought,
(09:47 am) Mitch King:he was higher, then
lowered then went back up
(10:01 am) Mitch King:joey: here is news on
that nurse: 09:35 (ES) Reportedly a nurse in
Madrid, Spain has tested positive for Ebola
after treating an ebola case; doctors
conducting additional tests to confirm –
Spain press – Reportedly contracted the virus
in a Madrid hospital where she was part of
the team treating a missionary who was
infected with Ebola while in West Africa. The
priest died on Sept 26th.- If confirmed the
nurse would be the first person to contract
Ebola outside of Africa. – Source
TradeTheNews.com
(10:02 am) JoeyTSA :wow
(10:02 am) JoeyTSA :lunch time, back i 3
(10:02 am) JoeyTSA :30
(10:16 am) Mitch King:that GTAT is reall big
surprise, bankrutpcy filing
(10:19 am) Mitch King:hey joey your range
trade setup just was with CL 30 min ago, just
saw it now
(10:19 am) Mitch King:2m
(10:19 am) Mitch King:sorry
(10:26 am) Mitch King:ES futures moving up
last 20 min
(10:35 am) Mitch King:GPRO back over 91
(10:46 am) JoeyTSA :Mitch, good catch on /CL
range break
(10:54 am) Mitch King:i didnt trade it there
but saw it after
(10:57 am) Mitch King:thanks for CMRX qwert,
got it short
(10:58 am) Mitch King:not done with it yet,
might rebound for 2nd helping
(10:58 am) skydiver :yes – thahk qwertfor
CMRX – back on for a bit
(10:59 am) Qwert ::)
(10:59 am) skydiver :Might bounce for
another short Mitch – CMRX?
(11:00 am) Mitch King:yeah this one here
(11:00 am) skydiver :yep – bouncing nw
(11:00 am) skydiver :nice Mitch! 🙂
(11:00 am) Mitch King:uh oh, problem, usually
ok to short but looks strong, like new news
(11:01 am) skydiver :yes -strong for sure
(11:01 am) Mitch King:it will cool off
(11:04 am) Mitch King:this chart here TKMR is
ebola drug last week that was hot
(11:04 am) Mitch King:down big
(11:12 am) Mitch King:i wouldnt try to buy
long for a sclap on CMRX, i’d look for a
rebound to short again
(11:12 am) skydiver :CMRX – nice drop
(11:13 am) Mitch King:too dangerous to buy
long here,
(11:20 am) skydiver :GPRO- nice move up
(11:20 am) Mitch King:we need another CMRX or
RIO
(11:20 am) Mitch King:come on guys, lets find
one
(11:21 am) Mitch King:ok so the routine is we
can short these biotechs now
(11:21 am) Mitch King:they are not as hot as
last 2 weeks
(11:25 am) Mitch King:nurse in Spain
confirmed has ebola
(11:25 am) JoeyTSA :/ES made good move off of
1950 test
(11:35 am) Mitch King:CL made good move to
high of day again
(11:35 am) JoeyTSA :yeah
(11:36 am) Mitch King:what happens now in
biotechs, the cycles of price movement will
be smaller and shorter time periods
(11:36 am) Mitch King:they will start to look
like buyout rumors, as CMRX did
(11:36 am) Mitch King:the next biotechs will
be like a “me too”
(11:36 am) Mitch King:I’m a biotech, buy me
buy me
(11:37 am) Mitch King:like a grade school
line up of kids saying pick me pick me
(12:00 pm) skydiver :low priced stock moving
up STNG
(12:04 pm) JoeyTSA :thank
Mitch,Qwert,traders…enjoy your day, see you
tomorrow
(12:04 pm) skydiver :take care joey
(12:05 pm) Qwert :cya joe
(01:00 pm) Qwert :Bye everyone cya all in the
am
(01:03 pm) Mitch King:see you guys tomorrow
|
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