| (05:49 am) Mitch King:jobs numbers wor worse
than expected and has dropped the Dow and SP
futures
(06:28 am) Mitch King:watching CSX
(06:29 am) Mitch King:watching EGOV
(06:29 am) Mitch King:RTN looks like trending
up today
(06:29 am) Mitch King:Watching AIG from
yesterdays gap up aftermarket yesterday
(06:30 am) Mitch King:watching WPRT
(06:30 am) Mitch King:monitoring OPEN today
(06:30 am) Mitch King:LLTC dropping,
watching
(06:31 am) Mitch King:watching OPEN closer
(06:31 am) Mitch King:watchign REGI
(06:31 am) Mitch King:watching MYL for top
(06:31 am) Mitch King:watching MELI today for
trades,
(06:31 am) Mitch King:watchign SREV for top
(06:32 am) Mitch King:watching AIG for bottom
on this pullback
(06:32 am) Ed’s assistant :Monitoring AXL
(06:32 am) Mitch King:watching YY pullback
(06:32 am) Mitch King:watchign LF
(06:32 am) Ed :VIAB monitor for trades
(06:33 am) Mitch King:watching EAT
(06:33 am) Ed :eye on SR for trades als
(06:33 am) Mitch King:watching CHRW
(06:33 am) Mitch King:watching KRFT
(06:33 am) Mitch King:watching TRLA
(06:34 am) Mitch King:watching INCY
(06:34 am) Mitch King:EAT toppy
(06:34 am) Ed’s assistant :Monitoring MGM
(06:35 am) Mitch King:INCY toppy for short
(06:35 am) Mitch King:watching AREX for
bottom, watch spread and lower vol
(06:35 am) Mitch King:watching AOL
(06:36 am) Mitch King:watching for buy entry
on bottom of FLT drop
(06:36 am) Mitch King:VIAB toppy
(06:36 am) Mitch King:watching SEE for top
(06:36 am) Mitch King:SR toppy
(06:37 am) Mitch King:watchign ETN for
bottom
(06:37 am) Mitch King:monitoring YELP
(06:37 am) Mitch King:monitoring STX
(06:37 am) Mitch King:watching MHK for bottom
to buy, might take a while but must keep
dropping straight
(06:38 am) Mitch King:watching WPRT closely
(06:39 am) Mitch King:monitoring CREE
(06:39 am) Mitch King:watching BBG for short
on top of bounce, late to see, missed bottom
to buy
(06:40 am) Mitch King:monitoring QIHU
(06:40 am) Mitch King:watching MPC
(06:41 am) Mitch King:watching AVG, no hurry
(06:41 am) Mitch King:still watching AOL
(06:41 am) Ed’s assistant :Monitoring IMMR
(06:41 am) Mitch King:SEE toppy for short
(06:41 am) Mitch King:monitoring OCN
(06:42 am) Mitch King:use limit orders too
(06:42 am) Mitch King:let SR drop more before
buying
(06:43 am) Mitch King:watching GNRC
(06:43 am) Mitch King:watching UPL
(06:43 am) Mitch King:more upside on OPEN
bounce
(06:44 am) Mitch King:its best to watch at
first
(06:44 am) Mitch King:for anyone new here
today, these last two chart patterns, GNRC
and UPL, we are looking for these to stop
dropping and a little up, then start buying a
little position, then add a little more
(06:45 am) Mitch King:consider reducing LF if
long
(06:45 am) Mitch King:watching GMCR, this is
good trading stock quite often
(06:45 am) Mitch King:watchign VRTX
(06:46 am) Mitch King:LF is example of chart
pattern we want to see after big early drop
(06:47 am) Mitch King:watchign LBTYA
(06:49 am) Mitch King:watching MJN
(06:49 am) Mitch King:watching MDT
(06:50 am) Mitch King:watching SBAC
(06:51 am) Mitch King:mnonitoring IMR for
rebound for 2nd short, missed first one
(06:51 am) Mitch King:watching SIRO
(06:54 am) Mitch King:consider reducing LBTYA
if long
(06:58 am) Qwert :monitoring COP
(07:00 am) Mitch King:watching MDT closer
(07:00 am) Ed :*(US) JUN FACTORY ORDERS: 1.5%
V 2.3%E- S
(07:02 am) Mitch King:watching AXL
(07:02 am) Mitch King:watching I for top
(07:02 am) Mitch King:monitoring CELG, not
interesting yet
(07:04 am) Mitch King:watching ELLI
(07:06 am) Mitch King:watching RMD closer
(07:08 am) Ed’s assistant :Monitoring ULTA
(07:10 am) Mitch King:looking for 69 area on
SIRO, be flexible, as a bungie cord
(07:19 am) Qwert :watching CVC
(07:21 am) Qwert :TWC
(07:21 am) Qwert :watching FB
(07:22 am) Ed’s assistant :Monitoring CHTR
(07:25 am) Ed :TWC halted
(07:26 am) Ed :circuit breaker halt
(07:28 am) Mitch King:SR is not the kind of
chart pattern now you can safely buy, needs
to have an accelerated drop with higher and
higher volume.
(07:33 am) Ed :CVC halted
(07:45 am) Ed :ILMN just monitoring, would
like more selling vol
(07:53 am) Mitch King:should get a bounce in
CL 09
(07:55 am) Mitch King:consider selling GNRC
if long
(07:59 am) Ed :also monitoring QCOR
(08:09 am) Qwert :monitoring MRC
(08:18 am) Qwert :watching CFN
(08:21 am) Qwert :CFN alert
(08:22 am) Ed :SMIN.UK Terminates discussions
regarding potential transaction for Medical
division; Not proved possible to reach
agreement with the potential counterparty on
acceptable terms for a transaction – In
reaching this conclusion, the Board has taken
full account of the quality and highly cash
genermore… (related SMIN.UK CFN SMGZY )-
(08:44 am) Murano :watching GME
(08:56 am) Qwert :monitoring IMGN
(08:59 am) Mitch King:uptrend means buy on
dips
(08:59 am) Mitch King:possible trend reversal
on CL, now moving up
(09:06 am) Mitch King:that is CL -09
(09:06 am) Mitch King:consider selling CL if
long
(09:32 am) Mitch King:any bounce in CL here
qwert would be real small, like 5-10 ticks
max
(09:57 am) Qwert :monitoring ITW
(09:58 am) Ed :BIDU newhod
(10:11 am) Murano :watching STXS
(10:30 am) Ed :US) Fed’s Bullard: Lower
inflation boundary should be 1%, entire
impact of sequester may not have been felt
and could be less than anticipated – Q&A
– Reiterates in a wait and see mode with
regard to policy. – May hold bonds longer
than previously expected, QE has been
effective
(10:46 am) Ed :HPQ Icahn does not own shares
of the company, contrary to earlier rumors –
CNBC citing sources-
(11:01 am) Ed :Market Internals update at
14:00ET – NYSE volume 345M shares, about 4%
below its three-month average; decliners lead
advancers by 1.1:1. – NASDAQ volume 1.08B
shares, about 3% above its three-month
average; decliners lead advancers by 1.3:1.
– VIX index -6.3% at just over 12.00
(11:07 am) Murano :watching FLR
(12:34 pm) Ed :US) Former Treasury Sec
Geithner is said to have informed the Obama
administration he is not interested in
becoming next Fed chairman – press – Geithner
is said to be advising the administration in
its choice.
(12:37 pm) Mitch King:im taking off a little
early, see you guys monday
(12:38 pm) Mitch King:but still should be a
couple good trades on it, did anyone try a
short sale? any inventory? i have not
checked
(12:38 pm) Mitch King:oh one more thing,
watch SR for a spike at opening again on
Monday
(12:38 pm) Mitch King:doubtful it will be
like todays 12.75 to 16.75
(12:39 pm) Mitch King:very doubtful it would
have shares available to short because it was
a 1 for 5 reverse split, and that takes most
all shares out to short
(12:46 pm) Ed :SPY new hod
(12:55 pm) Ed :have great weekend traders
|
(05:52 am) doji :Good day Mitch
(05:52 am) doji :Nice jump in /GC
(05:53 am) doji :I went long in GLD as I
don’t trade futures
(05:53 am) Mitch King:good trade doji
(05:54 am) Mitch King:did you do that when
you saw the jobs numbers were below expected?
I saw there was about 10 second window to do
that before things reacted.
(05:55 am) doji :I entered at 8:34AM…
(05:55 am) Mitch King:good price 124.25 area
(05:55 am) doji :Got at 125.91
(05:55 am) Mitch King:oh ok
(05:55 am) Mitch King:still good price’
(05:56 am) Mitch King:you should learn
futures too. We are going to have an
intensive workshop for 3+ days sometime this
fall
(05:56 am) doji :I entered when it held
above 125.4
(05:57 am) doji :I am travelling in 3 weeks
to Houston and setup my futyres account as I
need to change my account to US Holder
(05:57 am) doji :I am with TD Ameritrade
(05:57 am) doji :Need to sign some
paperwork
(05:57 am) Mitch King:too expensive, your
commission costs are too high
(05:58 am) doji :Well, just to learn and
papertrade, then I will apply for another
broker
(05:58 am) Mitch King:your round trip
commission costs on stocks can be $3-4 and
futures should be around $4.60 round trip
(05:59 am) Mitch King:If you use limit orders
on stocks between bid and ask your total
commission can be under $1 round trip with
several good firms. it is called adding and
removing liquidity
(06:00 am) Mitch King:you remove liquidity by
using market orders, using limit orders you
add liquidity so your total fees and
commissions can be 50 cents to 70 cents one
way or $1-1.50 round trip
(06:00 am) Mitch King:it can add up to
savings for many traders of $4,000 a month
(06:01 am) doji :Point taken, thanks Mitch
(06:04 am) doji :Close GLD at 126.97, up
from 125.91…
(06:04 am) doji :Now just watching the
action
(06:11 am) herman :gm everyone
(06:16 am) doji :/ES moving up.. Yesterday’s
“good” news was good for the market. Let’s
see if “bad” news is still good for the
market
(06:17 am) doji :today
(06:28 am) Qwert :Good morning everybody
(06:29 am) Ed :good morning
(06:29 am) doji :AIG, LNKD, WTW to get some
action today
(06:29 am) skydiver :gm Mitch, Ed and all
(06:31 am) doji :AIG
(06:31 am) regatta :watching WTW
(06:31 am) doji :TSLA
(06:32 am) elisha :gm all
(06:32 am) doji :FB
(06:34 am) skydiver :long TSLA 133.98 –
thanks doji for TSLA
(06:35 am) skydiver :all out TSLA long for
now
(06:37 am) regatta :watching GME
(06:39 am) skydiver :watching KORS and LULU
(06:39 am) skydiver :LULU
(06:40 am) skydiver :sorry LULU chart looked
better . . little money in it
(06:43 am) doji :AIG holding $49 so far
(06:43 am) doji :NFLX long at 246
(06:44 am) doji :QCOR at 70
(06:45 am) regatta :SPY lod
(06:46 am) doji :Stopped NFLX at b/e
(06:48 am) doji :GMCR rebounding
(06:48 am) doji :FB hitting 38 again
(06:49 am) doji :Againg in NFLX
(06:49 am) skydiver :come on LBTYA – you can
bounce now
(06:52 am) doji :Nice Skydiver, was not
watching
(06:52 am) skydiver :LBTYA cooperating –
thnx doji and thnx to Mitch for calling it
(06:53 am) skydiver :out 3/4 LBTYA long
(06:55 am) skydiver :all out of LBTYA long –
thanks again Mitch for LBTYA
(06:58 am) skydiver :HPQ – take over
chatter
(06:58 am) doji :Watching WTW
(07:01 am) doji :Watching AIG
(07:16 am) skydiver :nice call on SIRO
Mitch
(07:19 am) doji :?ES back to 1700… as
expected
(07:20 am) skydiver :ipo open – CTRL
(07:22 am) skydiver :CHTR – chatter about a
merger
(07:24 am) Ed :nice
(07:26 am) skydiver :covering 1/2 CHTR
short
(07:28 am) doji :FB
(07:28 am) skydiver :all out of CHTR short
(07:30 am) Mitch King:nice one sky
(07:30 am) Ed :nice sky
(07:30 am) skydiver :thnx Mitch . . . lilke
Murano says . . a blind squirrel can find a
nut once in awhile 🙂
(07:34 am) Mitch King:you held on to CHTR
longer than you used to, is that hold time
increasing?
(07:34 am) Mitch King:or do you like that
style of quick in and out?
(07:34 am) skydiver :yes Mitch . . a lilttle
. . . trying to hold longer now . . 🙂
(07:35 am) Mitch King:are you more profitable
now?
(07:35 am) Mitch King:is it helping?
(07:35 am) skydiver :confidence building by
holding longer . . yes . . more $$ holding
longer
(07:36 am) Mitch King:right. if you have a
style that is working, go ahead and use it,
then gradually change. you wont be
disrupting your income. just realize longer
term, your profits will increase with longer
hold times, also lower transaction costs
(07:37 am) skydiver :agreed . . . been
slowly changing to longer hold time . . .
(07:37 am) doji :LNKD at hod
(07:37 am) Mitch King:stocks go a lot further
in the direction that it is heading than you
think. futures move quickly though, much
faster than stocks
(07:37 am) skydiver :good to know . . thnx
Mitch
(07:41 am) skydiver :ipo MBII open
(08:04 am) skydiver :arghh . . my time is up
. . Have a great week-end everyone and thanks
for the fantastic calls and teaching . . see
you all Monday 🙂
(08:04 am) Qwert :cya sky
(08:04 am) Ed :c ya sky
(08:05 am) skydiver ::)
(08:14 am) doji :Watching AIG
(08:15 am) Qwert :nice call on ULTA short ED
(08:16 am) Ed :thx
(08:16 am) Qwert :u get it when it failed
105?
(08:18 am) Ed :no took eyes off
(08:22 am) Ed :thx qwert
(08:34 am) Ed :thx qwert for CFN
(08:35 am) Qwert ::)
(08:36 am) Qwert :u long noew Ed?
(08:39 am) Ed :out 3/4
(08:47 am) Qwert :CFN trying to 35.50 are
(08:47 am) Murano :GME needs to get close to
51 area to consider short
(08:47 am) Qwert :area
(08:48 am) so :watching HPQ
(08:56 am) Murano :if you took GME short
would cover some here I did not short GME
(09:05 am) Qwert :nice double bottom on CFN
(09:11 am) Qwert :Mitch regarding /CL would
you go long again on next dip now that its
75tics off of low?
(09:13 am) Mitch King:qwert, needs to go
under 107 area
(09:13 am) Mitch King:106.90 before looking
at long, somewhere in there
(09:13 am) Qwert :okay thx mitch
(09:15 am) Qwert :do you guys set alerts on
your ninja charts?
(09:26 am) Mitch King:i use visual lines for
alerts qwert, just personal habit, many ways
will work
(09:27 am) Qwert :so you put lines on the
chart mitch, on e signal i set audio alerts
was just wondering if you can on ninja?
(09:28 am) Qwert :by the way do you still
like /CL for long since it made a lower high
a few mins ago
(09:30 am) Mitch King:no qwert, it lost its
upward momentum, not interested in long now,
most of good trading is over with CL,
probably 1-2 more trades today on it left,
just waiting, hardest part of trading is just
waiting
(09:30 am) Qwert :okay thx mitch
(09:31 am) Mitch King:but if you wanted to
lose money on a 50-50 trade idea and stress
out while the trade is open, be my guest.
betting a little more interesting here, just
a little
(09:32 am) Qwert :thx mitch
(09:33 am) Mitch King:betting = getting
(09:34 am) Mitch King:hey qwert, dont you
love how friends talk to each other? hehe
(09:35 am) Qwert :for sure
(09:36 am) Mitch King:profitable trading is
definitely not for the weak hearted. it is
always an honest assessment of what is going
on with a trade idea
(09:36 am) Qwert :thats for sure
(09:37 am) Mitch King:you see what i meant by
5-10 tick bounce that just occurred? it is a
quickie, have to be on your game and mentally
decisive. i came in there with idea of 5-7
ticks in just a few minutes, not expecting
big move, only a snapback rebound
(09:37 am) Mitch King:we are talking about CL
09-13
(09:38 am) Qwert :Mitch have a question for
you on your 1 min chart for /CL how far back
can you see how many mins?
(09:38 am) Mitch King:when you do that type
of trade, i consider it bonus money, not a
formal full length trade from signal to
signal
(09:39 am) Qwert :im trying to stay
disciplined for just the longer trades
(09:39 am) Mitch King:but it is easy to get
“lost” as to where you are or supposed to be
in the trade. so mentally you have to remind
yourself what you are doing. if you do that
all day you become a mental case by day’s
end, its tough trading. best to go from
signal to signal for 15-30 ticks
(09:40 am) Mitch King:if you do a trade like
i just described, which i got 6 ticks on one
contract and 4 ticks profit on another
contract, i tell myself to get back on the
trade i was on before i did that. only 2
contracts because it isnt a great trade idea,
more of a scalp, not a big move
(09:40 am) Mitch King:the overall trade was
short from 107.18
(09:40 am) Mitch King:i hope this makes
sense
(09:40 am) Mitch King:taking break now
(09:40 am) Qwert :yes thx
(09:41 am) Murano :lunch time back in
20
(10:00 am) herman :nice qwet
(10:01 am) herman :sorry qwert
(10:12 am) Murano :no shares STXS at
Lightspeed
(10:14 am) Qwert :Ed gets them at brokers r
us along with free shoes and tacos 🙂
(10:14 am) Murano :haha
(10:15 am) Ed :lol
(10:15 am) Qwert :nice chart murano
(10:21 am) Ed :thx on STXS murano
(10:21 am) Murano :I got 38 cents of the
long
(10:23 am) Qwert :i got the long to thx
murano
(10:24 am) Murano :did you go long when it
broke over 7 qwert?
(10:24 am) doji :Nice breakout in APPL above
$460
(10:25 am) Qwert :yes murano
(10:25 am) Murano :nice
(10:26 am) Murano :must be some news, it’s
still climbing
(10:26 am) Qwert :i took last part off at
7.60 guess i should have held a piece
(10:28 am) Qwert :dont see any news?
(10:29 am) Murano :That is my fault for
thinking of it only as a short
(10:30 am) Qwert :i was thinking the same
thing at first, cause it was in the perfect
spot on the daily
(10:31 am) Murano :You know it will probably
turn into a short but I missed a lot of the
long in the process.
(10:32 am) Murano :Ed probably rode it all
the way to $8
(10:32 am) Qwert :it happens to me all the
time still probably my biggest weakness, like
mitch says stay flexible like a balerina
(10:32 am) Ed :got nice piece
(10:33 am) Qwert :did u hold any thru the
pullback Ed around 10:21pst
(10:33 am) doji :Any news on STKS?
(10:35 am) doji :That pullback was 40c (5%
drop for a $8 stock)
(10:35 am) Ed :no news so far
(10:36 am) doji :Did you hold that pullback
Ed?
(10:37 am) Ed :which pullback
(10:37 am) Ed :I did not play till 7.03
(10:39 am) Ed :took off 3/4, then held 1/4 at
stop 7.11
(10:39 am) doji :Why 7.11?
(10:40 am) Ed :enough for slippage on stop
(10:40 am) Qwert :nice where did u exit final
piece or are you still in?
(10:40 am) Ed :instead of placing at
breakevn
(10:41 am) Ed :7.89 @1:29
(10:41 am) Ed :once 8 did not hold
(10:41 am) Qwert :nice trade
(10:42 am) Ed :thx
(10:42 am) Ed :yea doji it was just bcuz
sometimes those spreads on those low price
movers can get whacky and wide
(10:46 am) Qwert :HPQ volume spike
(10:48 am) Qwert :thx ed
(10:51 am) pirate :watching SINA
(10:52 am) Murano :SINA and BIDU have both
had good day
(11:05 am) Murano :Ed, were you able to short
STXS
(11:05 am) Ed :no could not find shares
(11:10 am) Murano :FLR may try to breakout
(11:15 am) doji :Volume is picking up as per
the internals Ed
(11:23 am) doji :Watching SLB
(11:23 am) doji :at S1 now
(11:37 am) Murano :I thought FLR would
breakout. 4th time this year it got up to
$67.
(12:04 pm) Murano :BCRX moving up
(12:06 pm) doji :Seeking alpha post
(12:07 pm) doji :BCRX shirt 5.8, stop at
5.93
(12:08 pm) doji :short
(12:08 pm) doji :stop at b/e now
(12:08 pm) Ed :thx doji, did not even see
that on scanner
(12:10 pm) doji :Post was from Murano
(12:10 pm) Ed :thx murano
(12:12 pm) doji :Volume just dried… so no
oush for higher prices?
(12:13 pm) doji :doji : Volume just
dried… lol… so no oush for higher prices?
= Yes dumb
(12:14 pm) Murano :we understood what you
meant doji
(12:32 pm) Murano :done for the day, see you
Monday
(12:33 pm) doji :EXPE
(12:33 pm) Ed :c ya murano
(12:37 pm) Ed :c ya Mitch
(12:37 pm) herman :thanx mitch
(12:38 pm) Qwert :Bye Mitch, Murano have a
great weekend
(12:38 pm) herman :bye murano
(12:39 pm) herman :no shares
(12:39 pm) Qwert :i could not find any
(12:55 pm) Qwert :Bye everyone have a great
weekend cya all on monday
(12:56 pm) herman :bye ed
(12:57 pm) so :whats happen tomorrow
(12:58 pm) Ed :nothing that I know of so
(12:59 pm) so :is the trading room open
tomorrow
(12:59 pm) Ed :Not to my knowledge, if so, Im
sure you will get an email
(01:00 pm) so :i am sorry tomorrow is
saturday
(01:00 pm) Ed :correct
(01:00 pm) so :have a great weekend
(01:01 pm) Ed :you also
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