(05:58 am) JoeyTSA :gap down:
MDT,ACOR,ASML
(05:59 am) JoeyTSA :gap up:
EW,AHL,TSLA
(06:00 am) Mitch
King:Premarket UP: FB, BA, AHL, EW,
KNDI, HLF, C, GILD, GOOG, Premarket
DOWN: ALU, ERIC, MDT, NBG, We
could get a big bounce today. I would
look for an initial move up, then pullback
and then a higher move.
(06:22 am) Mitch
King:Other stocks watching: V, JNJ,
LLY, EW, MDT, LXRX
(06:22 am) Mitch
King:Other stocks watching: V, JNJ,
LLY, EW, MDT, LXRX
(06:31 am) Mitch
King:watching DDD
(06:31 am) JoeyTSA :eye
on FB
(06:32 am) Mitch King:watching AR
for bottom,
(06:32 am) Mitch King:SONC
more downside
(06:33 am) Mitch King:GDP
trending up
(06:33 am) Mitch King:INVN on
the move, more upside but should give a
short
(06:34 am) Mitch King:consider
reducing DDD if long
(06:34 am) Mitch
King:CSIQ trending up,
(06:35 am) Mitch
King:monitoring SCSS
(06:36 am) Mitch
King:watching ATW for bottom
(06:36 am)
Mitch King:watching AR closer
(06:36
am) JoeyTSA :eye on WBMD
(06:37 am) Mitch
King:HLF trending up
(06:37 am) Mitch
King:STLD trending up
(06:37 am) Mitch
King:EW should trend up
(06:37 am) Mitch
King:EW making move higher
(06:38 am)
Mitch King:CRK trending up, watching
for top though
(06:38 am) Mitch
King:monitoring JBHT for 2nd short, missed
first
(06:39 am) Mitch King:DDD prob tops
out again then bottom again
(06:39 am)
Mitch King:watching VEEV for
microshort
(06:39 am) Mitch King:watching
HPJ for bottom, low priced $5 stock
(06:40
am) Mitch King:AON trending up
(06:41 am)
Mitch King:STLD strong uptrend
(06:42 am)
Mitch King:CP trending up,
(06:43 am)
Mitch King:FFIV trending up
(06:43 am)
Mitch King:CP is a railway, they tend to
trend up instead of giving sharp
reversals
(06:44 am) Mitch King:still need
to be real nimble with a stock like
DDD
(06:44 am) Mitch King:new low on DDD,
watching for stronger bounce on next
bottom
(06:45 am) Mitch King:GDP double
top
(06:48 am) Mitch King:SPY turnign down
last 8 min, monitoring
(06:48 am) JoeyTSA
:eye on TSLA
(06:50 am) Mitch King:APO
bouncing
(06:50 am) Mitch King:watching
HLF for bottom to buy, take time on this drop
though
(06:51 am) Mitch King:hold GDP
short longer if breaks below 22
(06:54 am)
JoeyTSA :eye on GILD
(06:54 am) Mitch
King:DDD accelerating drop, watching
closer
(06:54 am) Mitch King:MORE DOWNSIDE
WITH acor
(06:55 am) Mitch King:consider
reducing or selling CRK
(06:59 am) Mitch
King:SPY still downtrending
(07:00 am)
Mitch King:watching MDT for 2nd short if
stays below $58
(07:00 am) Mitch King:DDD
bouncing
(07:00 am) Mitch King:lower low
on HLF. should be more godo trades today on
HLF both ways
(07:01 am) Mitch
King:watchign SSYS for gradual reversal
upward for long
(07:01 am) Mitch King:new
low on SPY
(07:02 am) JoeyTSA :QIHU trying
to bounce, see if it tests $87 again
though
(07:27 am) Mitch King:GDP still
making higher highs
(07:36 am) Mitch
King:AHL trending down, new low
(07:43 am)
Mitch King:New high on CRK, still
uptrending
(07:44 am) Mitch King:DDD weak
uptrend but still higher high
(07:47 am)
Mitch King:approaching highs of day on
SPY
(07:49 am) Mitch King:new high on ACOR
today
(07:56 am) Mitch King:HMSY steady
uptrend now after big drop
(09:27 am)
Qwert :new low on AHL
(10:16 am) Mitch
King:NQ getting interesting, thanks
regatta
(10:41 am) Mitch’s Assist. :this
was from premarket
(10:41 am)
Mitch’s Assist. :NQ Mobile results ‘dismal,’
Muddy Waters says Calling NQ Mobile’s Q4
results “disappointing” and dismal,” short
selling research firm Muddy Waters wrote that
the results indicate that the company’s
auditor has stepped up its scrutiny of the
Chinese company. As a result, NQ’s results
were much worse than expected, wrote the
firm. Meanwhile, the company reported
negative operating cash flow and “inflated”
revenue, Muddy Waters added
(10:43 am)
Murano :watching ACAD
(11:09 am) JoeyTSA
:eye on QIHU
(11:36 am) JoeyTSA :eye on
AKBA, currently halted
(11:58 am)
Mitch King:could get a bounce on AKBA, higher
risk trade
(12:04 pm) Mitch King:new low
on SPY
(12:11 pm) Mitch King:on
SPY
(12:11 pm) Mitch King:new lows keep
getting hit
(12:14 pm) Mitch King:i;d
start looking for popular larger cap stocks
for a rebound that parllels index bounce, we
should get a bounce in
indexes
(12:15 pm) Mitch King:you might
consider TNA long, 3 to 1 leveraged long
etf
(12:43 pm) Mitch King:i wouldnt expect
too much more move up on TNA if you went
long
| (05:50 am) rd :GM to all
(05:52 am)
skydiver :gm everyone
(05:53 am)
JoeyTSA :Good morning
Murano,Qwert,everyone…bus inv @
7pdt
(05:55 am) skydiver :AHL
theflyonthewall.com: Endurance
Specialty proposes to acquire Aspen Insurance
for $47.50 per share
(05:59 am) JoeyTSA
:thx for the AHL news sky
(06:00 am)
skydiver :no problem joey
(06:01 am)
skydiver :thnx Mitch and joey for
gappers
(06:07 am) Qwert :Good morning
everyone
(06:09 am) skydiver :gm
qwert
(06:18 am) Mitch King:ive been
reading the articles claiming the world
champion poker been cheating according to
casinos. some sort of deffect in card
edges as well as pattern on back of
card
(06:18 am) JoeyTSA :yeah, in the news
for awhile
(06:18 am) Mitch King:they’re
talking cumulatively almost $20 mil winnings
this way
(06:18 am) JoeyTSA :phil
ivey
(06:18 am) Mitch King:right
(06:19
am) JoeyTSA :not cheating to me, just casino
let a mistake happen
(06:19 am) Mitch
King:they want their money back, going to be
hard to get it back
(06:20 am)
freitag8 :Mornin Traders!
(06:20 am)
devo :GM all, lets make it a great
day
(06:21 am) freitag8 :I agree
Devo… Your First call of the day is Spot
On!
(06:21 am) devo :whats happening
Fre, you get the IB intraday charts
figured?
(06:21 am) devo :haha,
thx. I researched that one all
night
(06:36 am) freitag8 :Ya… IB
says that I am part of a Master Account with
several other Prop Traders… to get up to
date charts I have to pay the Professional
Fees for Data Feed.. they told me I should be
happy I get some charts for free!
(06:38
am) freitag8 :EW got good Patent news,
you can watch MDT for a counter move to
EW
(06:42 am) freitag8 :KNDI: Kandi
Technologies Shares Rise 6% Premarket as
Company Announces Plan to Launch the Public
EV Sharing System Pilot Project in
Shanghai
(06:43 am) freitag8 :Good
Call DDD Mitch
(06:50 am) regatta
:watching HMSY
(06:51 am) freitag8
:Top of Radar… Unusual Volume + high ATR:
EW, AR, GDP, WBMD, JBHT
(06:57 am) JoeyTSA
:was reading something on the internet,
forgot who it was, but said when the market
crashes that it will be at least 30%
move
(07:07 am) Qwert :GDP new
hod
(07:08 am) JoeyTSA :/ES bounce right
off pp
(07:09 am) JoeyTSA :was looking
like it wanted lower and then turned
up
(07:17 am) JoeyTSA :have to leave for
now, back later..good luck, thanks for the
calls
(07:18 am) skydiver :take care
and have a fantastic day joey
(07:18 am)
freitag8 :take it easy Joey
(07:20
am) devo :Later Joey, have a good
day
(07:26 am) Mitch King:thats about it
for the DDD bounce,
(07:30 am) Mitch
King:there are a lot of small energy
companies moving up today, GDP, HK,
(07:33
am) Mitch King:CRK is another small energy
company moving up
(07:45 am) regatta
:SPY near hod
(07:46 am) skydiver
:TSLA – fianlly bounced nicely with bounce of
SPY – 3/4 out long
(07:48 am)
skydiver :all out of TSLA
long
(07:54 am) Mitch King:nice one
sky
(07:54 am) Mitch King:you have to go
to work now? still in uptrend, more
upside potential on TSLA
(07:57 am)
skydiver :unfortunately -my time is up
Mitch . . might jump on again when I get into
office – thnx however 🙂
(07:57 am) Mitch
King:ok take care sky
(07:57 am)
skydiver ::)
(07:57 am)
skydiver :I’m gone
(08:02 am)
freitag8 :ahl still trending but big
spreads
(08:02 am) freitag8 :take
care Sky
(08:05 am) Murano :thanks for
HMSY regatta
(08:06 am) Mitch King:I would
think FEYE would have quite a bit of
potential bounce on a swing trade.
dropped over 50% in last 5 weeks
(08:23
am) freitag8 :ACOR has had trouble at
$37 the last several days… watching for a
pull back to $36.50 before the next test of
$37
(08:32 am) freitag8 :Monitoring
this $48 level on DDD closely
(08:34 am)
devo :INVN again
(08:35 am)
regatta :watching APAM
(08:37 am)
Murano :monitoring OCN
(08:43 am)
regatta :SPY near hod again
(08:45
am) devo :/ES hitting this area for 3rd
time, hoping on a break here
(08:49 am)
regatta :just watching HIMX
(08:55
am) regatta :watching EPAM
(09:05
am) Mitch King:this 2nd bottom EPAM
should be better place to buy
regatta
(09:07 am) regatta :tks
mitch, no position yet
(09:17 am) Mitch
King:hey reg, did you ever hear me explain
that money trade in futures,?
(09:17 am)
Mitch King:about 2 months ago
(09:18 am)
Mitch King:thats what EPAM just went through,
it had an initial spike off bottom then
pullback that didnt have a new low and then
the next rebound is usually a higher
high
(09:34 am) regatta :mitch, i
don’t recall the money trade discussion but i
will remember this pattern
(09:35 am)
regatta :i took EPAM late at
31.55
(09:35 am) Mitch King:thats good
entry
(09:35 am) regatta :then moved
my stop up b/c had to step away from computer
and stop hit at 31.71
(09:36 am) Mitch
King:way too tight of stop. you need to
give more room to a trade when you first open
it, then tighten it after it either gets
going on track in desired direction
(09:37
am) Mitch King:or if it shows signs of
not working
(09:38 am) Mitch King:i assume
your trade entry in EPAM was at 909am pacific
time at $31.55 and it went up from there, no
sell signal yet on it
(09:38 am)
regatta :yes on entry
(09:39 am)
Mitch King:you stop around 914am
(09:39
am) regatta :yes
(09:39 am) Mitch
King:>
(09:39 am) Mitch
King:?
(09:39 am) regatta :that’s
when i was away from computer
(09:39 am)
Mitch King:yeah thats too tight of stop, you
got to give it room to breath
(09:39 am)
regatta :trailing stop might have been
better
(09:40 am) Mitch King:yeah a hard
stop at beginning should be well below the
entry price
(09:40 am) regatta
:original stop was set at 31.21 then moved
up
(09:40 am) Mitch King:i think around
that $31.20 area is hard stop
(09:41 am)
Mitch King:no, leave hard stop in place adn
create a trailing stop that cancels the hard
stop if filled
(09:41 am) Mitch King:the
purpose of the hard stop is to keep you from
getting badly hurt,
(09:41 am) Mitch
King:and once you got profits, the trailing
stop protects some of the profits and the
hard stop wont ever get hit
(09:41 am)
devo :i always put my stops too close
when i walk away
(09:42 am) Mitch King:too
tight of stops = frequent losses that most
are guaranteed to trigger
(09:43 am)
devo :you got it! so now i just
sleep here and never walk away…
(09:43
am) Qwert :hahahah
(09:43 am) devo
:ok, not really but i feel that pain aswell
on the stops. still learning
(09:43
am) Mitch King:no devo, try to study what i
wrote above
(09:45 am) regatta :tks
for the hard stop/trailing stop advice
mitch
(09:46 am) devo :i meant the
never walking away. i am reading it and
think its good. Do you use a % or
certain amount for any stock for a hard
stop? or more based on chart
support/rest levels?
(09:47 am) Mitch
King:yeah reg, that will work 75-80% of the
time and make more profits on teh winners
than the 20-25% losers lose
(09:47 am)
Mitch King:does that make sense?
(09:47
am) regatta :yes
(09:49 am)
devo :yes, thx Mitch
(09:49 am)
Mitch King:during the process of learning
what i just explained people get frustrated
and discouraged. and then their
emotions take over trading. they don’t
trust themselves or any technique. its
real hard to trade that way when your
thoughts are fighting you
(09:51 am) Mitch
King:i see that happen with professional
golfers. they lose confidence in their swing
or some aspect of their game after having had
previous success. you just got to ramp
up your committment level and time studying
and perfecting a technique. requires
many many hours of objective analysis and
study
(09:52 am) Mitch King:i think what
helped Tiger Woods is early in his career he
has been able to analyze what he is doing
right and wrong, then make adjustments.
Unfortunately, he has not transferred that
over to his personal life
(09:53 am) Mitch
King:this new 20 year old kid Jordan Speith
is looking like the new Tiger Woods
(09:54
am) freitag8 :DDD could be a good swing
trade for lower levels over the next few
days… I’m looking at a Put Vertical if it
tests $48 again today
(09:54 am)
devo :he looked great this weekend and
looks like the future of golf. emotions
def took over for him, he will
learn
(09:54 am) Mitch King:right, he got
six 2nd places last year i think, didn’t
he?
(09:55 am) Mitch King:i think golf has
a lot of analogies to trading.
(09:56 am)
regatta :except in trading you don’t
have to wear funky colors
(09:56 am) Qwert
:lol
(09:57 am) Qwert :or pants
(09:57
am) devo :yeah and had a win as
well. ill wear those plaid pants if it
helps me
(10:08 am) regatta :just
watching NQ
(10:10 am) Mitch King:NQ is
that Chinese stock Muddy Waters slammed last
year
(10:10 am) Mitch King:it went down
from $23 to 8.50 in late October
(10:26
am) Qwert :got an email from muddy about nq
over the weekend
(10:40 am) Mitch King:did
you leave your email addres on their list
qwert?
(10:45 am) JoeyTSA :what i read
about NQ was that earnings were down because
of the irregularity
(10:45 am) JoeyTSA
:getting hammered over it
(10:50 am) Qwert
:sorry mitch just walked back in, honestly i
dont remember but i get an email from them
everyonce in awhile, its just a headline i
dont get to see an actual report
(10:50
am) Mitch King:yeah their new auditors were
more strict
(10:51 am) Mitch King:and he
says caused higher losses to be reported than
expected
(10:54 am) JoeyTSA :longterm i
think NQ might be a decent position
(10:54
am) JoeyTSA :right now its a mess, but giving
a great entry price if you expect a
turnaround
(10:55 am) JoeyTSA :i believe
mobile security is their niche
(10:56 am)
JoeyTSA :pullback to $8 would be great, lots
of older support there
(10:57 am)
devo :think i would be a buyer at that
$8 level
(10:58 am) JoeyTSA :and again, i
mean as a longer term hold, not day
trade
(10:58 am) skydiver :jumping
on for a bit — monitoring TSLA’s
drop
(10:58 am) Mitch King:hey sky, we are
watching NQ drop
(10:58 am) skydiver
:I see that — have it up on a screen
now
(10:59 am) Mitch King:it is not acting
like a bottom is soon though,
(10:59 am)
Mitch King:its controlled selling, not a
panic sell
(10:59 am) skydiver
:gotcha Mitch
(10:59 am) skydiver
:thnx
(11:01 am) Mitch King:at same time
it just had 20% drop in last
hour
(11:01 am) Mitch King:my personal
rule is not to trade a stock long when
someone is calling them fraud
(11:01 am)
skydiver :sounds like wisdom to me
Mitch 🙂
(11:02 am) Mitch King:technicals
get overridden with other forces
(11:02
am) JoeyTSA :poor MS, they took a 5% stake in
them recently
(11:02 am) Mitch King:ok,
well thats another force, large company
holding shares may want to unlload.
(11:02
am) JoeyTSA :agreed Mitch,my comments were
for a bottom once this blows over
(11:03
am) JoeyTSA :they are also trying to get into
the game industry
(11:03 am) JoeyTSA
:largest game make for the china
iphone
(11:04 am) JoeyTSA :a few good
things can all be destroyed when accounting
irregularity hits
(11:07 am) Mitch
King:you got that right joey
(11:07 am)
JoeyTSA :but IF the biz is solid, it should
rebounce
(11:07 am) JoeyTSA
:rebound
(11:07 am) JoeyTSA :i believe
revenue was up 109% last Q
(11:07 am)
devo :TWTR looking good here
(11:08
am) Murano :keep a tight stop on ACAD I
thought it would get close to 15
but???
(11:08 am) Murano :18 not
15
(11:09 am) JoeyTSA :ACAD hammered past
6 weeks also
(11:09 am) JoeyTSA :they were
trying to push oer $30 back then
(11:12
am) Murano :out 3/4 ACAD
(11:12 am)
skydiver :whew – got out of TSLA just
before it dropped again —
(11:13 am)
Murano :stop last 1/4 17.55
(11:13 am)
Qwert :gonna go walk the dogs back in a
bit
(11:13 am) skydiver :trading
between phone calls is challenging
(11:13
am) skydiver :see ya qwert – enjoy the
walk
(11:13 am) JoeyTSA :bye
qwert
(11:31 am) skydiver :Market
been slowly heading down for awhile
(11:31
am) Murano :stopped last 1/4 ACAD
(11:36
am) JoeyTSA :never heard of AKBA, hit my
ticker
(11:41 am) Mitch King:me neither,
volume extremely low before this
spike
(11:43 am) Mitch King:by the way
guys, moves like AKBA, you dont short those,
only stay with the trade direction its going,
i am ultra careful before shorting
these
(11:43 am) Mitch King:basically, im
saying it is not worth the risk for the
reward, let alone the stress
(11:45 am)
Mitch King:this much pullback should be your
sell signal on AKBA,
(11:45 am) Mitch
King:ok on this rebound here, this is best
place to sell
(11:45 am) Mitch King:on
this candle here, 1145am
(11:46 am) Mitch
King:you are basically playing hte odds that
its peaked out and don’t let it bother you if
it goes up more
(11:46 am) Mitch King:i’d
lay odds on it that you got most of the long
profit already
(11:47 am) Mitch King:if
you do short something like this, make your
position size much smaller than the long
side
(11:49 am) Mitch King:reason why we
havent heard of this is it is pretty new
stock and the quiet period is now up today so
analysts assigned their ratings to it today,
big names like Morgan, UBS, Credit Swiss,
Nomura Seucirties, etc
(11:51 am) JoeyTSA
:thx Mitch
(11:57 am) JoeyTSA :very nice
rebound on NQ
(12:04 pm) regatta
:watching TSL
(12:07 pm) JoeyTSA :Thanks
Mitch,Murano,Qwert, everyone..have great day,
see you tomorrow
(12:08 pm) Mitch
King:take care horseman
(12:08 pm) Murano
:see you Joey
(12:11 pm) devo :see
ya Joey
(12:17 pm) Mitch King:AKBA quite
bullish when it levels in a down
market
(12:39 pm) devo :have a great
day guys, calling it for today. see ya
tomorrow
(01:01 pm) skydiver :Okay
— done — see you all tomorrow — had to
work hard to be in the green today, but green
it is 🙂
(01:02 pm) skydiver :I’m
gone 🙂
(01:05 pm) Mitch King:see you guys
tomorrow
|
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