[06:22 am] Ed : good morning
traders
[06:25 am] Mitch K: hi guys,
remember your best opportunities are the
ideas in teh first 30-45 minutes
[06:32
am] Mitch K: watching APA for bottom to
buy
[06:32 am] Mitch K: watching SFLY for
bottom to buy
[06:33 am] Mitch K: watchign
SMG for top to short
[06:34 am] Mitch K:
watching OTEX for top to short
[06:34 am]
Mitch K: watchign SWN for bottom to
buy
[06:34 am] Mitch K: watching for
rebound in NVDA to short at higher
price
[06:35 am] Mitch K: watching DK for
bottom to buy
[06:35 am] Mitch K:
monitoring JIVE for short on top of this
bounce
[06:36 am] Mitch K: watching HLF
for bottom to buy
[06:36 am] Mitch K:
watching HAR for top to short, take more
time
[06:37 am] Mitch K: watching OTEX
closely
[06:38 am] Mitch K: watching YELP
for bottom
[06:38 am] Mitch K: watching
MNST for bottom to buy
[06:39 am] Mitch K:
monitoring CTB
[06:40 am] Mitch K:
monitoring DGIT, more careful, low
priced
[06:41 am] Mitch K: monitoring
FMCN
[06:42 am] Mitch K: watching the
agricultural chemical stocks for top:
MOS, MON, AGU, POT
[06:43 am] Mitch K:
watching LULU for top to short
[06:44 am]
Mitch K: monitoring CRM
[06:44 am] Mitch
K: watching LVS for bottom to buy
[06:46
am] Mitch K: lulu
[06:46 am] Mitch K:
watching JCP for multiple trades
today
[06:47 am] Mitch K: watching TFM for
bottom to buy
[06:47 am] Mitch K: looking
for 58.75 area to cover LULU be
flexible
[06:48 am] Mitch K:
sorry
[06:48 am] Mitch K: agco
[06:48
am] Mitch K: monitoring FMCN
[06:48 am]
Mitch K: watching DAR for bottom to
buy
[06:49 am] Mitch K: micro
short
[06:49 am] Mitch K: CRM
toppy,
[06:50 am] Mitch K: looking for
under 52 for OTEX to cover
[06:51 am]
Mitch K: watching A, Agilent for bottom to
buy
[06:52 am] Mitch K: watching LVLT for
top to short
[06:53 am] Mitch K: should be
out of APA long
[06:53 am] Mitch K:
watching OCZ for bottom, low priced, higher
risk
[06:54 am] Mitch K: consider covering
HAR short
[06:54 am] Mitch K: consider
covering FMCN
[06:55 am] Mitch K: consider
covering most of OTEX short
[06:55 am]
Mitch K: still watching HLF for bottom,
take time
[06:56 am] Mitch K:
watching ELX for bottom, higher risk, low
priced, check spread
[06:56 am] Mitch K:
watching CFN for top to short
[06:57 am]
Mitch K: for top
[06:57 am] Mitch K:
watching LVLT closer
[07:03 am] Mitch K:
monitoring ANN
[07:03 am] Mitch K:
watching DLTR for bottom
[07:03 am] Mitch
K: watching FDO for bottom
[07:04 am] Ed :
monitoring QCOR for possible short would like
move closer to 40ish area
[07:05 am] Mitch
K: looking for 21.15 area on LVLT short, be
flexible
[07:06 am] Mitch K: sorry, mouse
problem
[07:06 am] Mitch K: fmcn
[07:06
am] Mitch K: f
[07:06 am] Mitch K: sell
DAR long and watch for short here
soon
[07:08 am] Mitch K: monitoring
GPC
[07:09 am] Mitch K: lulu
[07:09 am]
Mitch K: l
[07:09 am] Mitch K: consider
selling TFM long
[07:09 am] Mitch K:
watching LVLT for tradable bounce
long
[07:10 am] Ed : SPY new hod
[07:10
am] Mitch K: crud, this mouse
[07:11 am]
Mitch K: i almost typed, “sorry, spouse
problem” instead of mouse
[07:12 am] Mitch
K: JCP turning up
[07:12 am] Mitch K:
bringin up stocks,
[07:12 am] Mitch K: SPY
strong
[07:13 am] Mitch K: i would watch
MNST today, next idea would be a bottom to go
long
[07:13 am] Mitch K: new low on
MNST
[07:14 am] Mitch K: consider selling
A, try best price
[07:15 am] Mitch K:
quickie short on MDVN
[07:15 am] Mitch K:
watching MDVN for top here for
short
[07:15 am] Mitch K: you guys get out
of HAR short
[07:20 am] Ed : if u took
QCOR short would cover some here
[07:21
am] Ed : getting pullback in SPY
[11:26
am] Mitch K: over 4% move here, probably net
3.2% or thereabouts, also gave a short signal
after.
[07:13 am] Mitch K: i would watch
MNST today, next idea would be a bottom to go
long
[07:13 am] Mitch K: new low on
MNST
[07:14 am] Mitch K: consider selling
A, try best price
[07:15 am] Mitch K:
quickie short on MDVN
[07:15 am] Mitch K:
watching MDVN for top here for
short
[07:15 am] Mitch K: you guys get out
of HAR short
[07:20 am] Ed : if u took
QCOR short would cover some here
[07:21
am] Ed : getting pullback in SPY
[07:23
am] Ed : would reduce more QCOR
short
[07:24 am] Ed : sorry would cover
more QCOR short in here
[07:30 am] Ed :
getting small bounce in SPY
[07:31 am] Ed
: SPY bouncing near hod
[07:32 am] Ed :
SPY new hod
[07:34 am] Mitch K: my
computer screwed up
[07:41 am] Mitch K:
monitor EPAY rest of day
[07:42 am] Mitch
K: im having to rebuild my whole etrade
platform again from scratch. no wonder
why the CEO got fired yesterday
[07:43 am]
Ed : monitoring WLT for possible short let it
run no hurry
[07:44 am] Ed : would like a
move into 40.89 or 41 area
[07:48 am] Ed :
getting pullback in SPY
[07:48 am] Ed :
monitor EXPE closer to 54 area see if area
holds for potential long. will not take it
here
[07:55 am] Ed : monitor ENDP closer
to 33ish area for potential short or
32.83
[07:55 am] Mitch K: oh that is nasty
when you have to rebuild a
platform,
[07:56 am] Mitch K: to
short
[07:56 am] Mitch K: watching SMG for
top
[07:56 am] Mitch K: watching SFLY for
bottom again, remember everything is very
slow, so no need to jump in something quickly
on tehse ideas being posted
[08:04 am] Ed
: getting tad of selling in SPY
[08:05 am]
Ed : nice drop in SPY
[08:26 am] Ed : nice
bounce in SPY
[08:37 am] Ed : missed
breakout in NFLX
[08:38 am] Ed : has to
have strong vol on breakout
[08:38 am] Ed
: monitor BTU for breakout with strong vol
23.51
[08:49 am] Ed : if u took EXPE long
would reduce
[09:15 am] Ed : getting
pullback in SPY
[09:34 am] Ed : SPY
trading at trendline resistance
[10:11 am]
Ed : getting breakdown in SPY
[10:13 am]
Ed : nice one eyes
[10:47 am] Mitch K: hey
guys, i will review some charts with you in
about 15 min
[11:19 am] Mitch K: no, it is
called Darling
[11:19 am] Mitch K: i think
a restaurant chain right?
[11:19 am] Mitch
K: this is DAR
[11:20 am] Mitch K: i dont
use signals right at open, from
this
[11:21 am] Mitch K: 2%
profit
[11:21 am] Mitch K: LVLT short
here
[11:21 am] Mitch K: you take the
signals on big swings or moves on a
stock. and you can expect that stocks
settle down after a big move so I dont keep
taking signals, only interested in big moves
and you can get 2, maybe 3 trades
[11:22
am] Mitch K: nope, no signal yet
[11:22
am] Mitch K: this is a 2 min chart so let me
change to 1 min and see if there is a signal,
i doubt it
[11:22 am] Mitch K: this one is
SMG here, mike shorted at 42.25
[11:23 am]
Mitch K: for SMG
[11:23 am] Mitch K: just
got a sell signal on the 1 min
[11:24 am]
Mitch K: sell = sell long or sell
short
[11:24 am] Mitch K: just not worth
it for how long it will take and the amount
of energy it takes
[11:24 am] Mitch K: i
dont care for this trade myself, i only see
20 cents potential in it, maybe 25
cents
[11:25 am] Mitch K: this was the HAR
trade early, long side
[11:26 am] Mitch K:
the bigger the move the better chance there
is a short, so that makes it 2 trades, the
first long and the short after that
[11:27
am] Mitch K: just a sec victor, i will answer
that in a few min
[11:27 am] Mitch K: over
2% on the short
[11:28 am] Mitch K:
EXPE
[11:28 am] Mitch K: put on hard disc
brain, etched on memory chip
[11:28 am]
Mitch K: repeat, the bigger the move, the
higher chance there is a good trade after the
first trade, burn this into memory
[11:29
am] Mitch K: did you guys get the short or
the long at the bottom?
[11:31 am] Mitch
K: because you miss the 2nd, 3rd, 4th, 5th,
trade after that
[11:31 am] Mitch K: how
you set your expectations on using this tool
is important. you just take the signal
best you can and look for next one while you
have that open position. dont get hung
up or caught up about why its doing what it
is doing. The more you argue in your
head with it, the worse you will do
[11:32
am] Mitch K: JCP
[11:34 am] Mitch K:
AEO
[11:34 am] Mitch K: here are a couple
stocks i was looking at but somehow didnt
post, i do that sometimes
[11:34 am] Mitch
K: this is FMCN by the way
[11:34 am]
Mitch K: to repeat earlier comment, you dont
want to take all the signals as a
trade. Only looking for signals on
stocks that are giving big movement
[11:35
am] Mitch K: AEO, American Eagle
Outfitters
[11:35 am] Mitch K: 5% move
here
[11:36 am] Mitch K: try not to
overthink but there are some rules i suggest
like if you see some really bad news like,
accounting fraud,
[11:36 am] Mitch K: dont
think about earnings, just watch to see if
stock is moving up and down a lot
victor
[11:37 am] Mitch K: daily chart on
KCG
[11:37 am] Mitch K: oh, KCG
[11:37
am] Mitch K: we had some real bad news this
last week on a stock, anyone remember?
i think last week
[11:38 am] Mitch K: let
me show SMG on Mike’s short at
42.25
[11:38 am] Mitch K: this is HAR on
right
[11:39 am] Mitch K: here are a
couple areas i would look for short but ive
been getting away from forecasting too much,
it is costing me money to forecast target
prices. better to just wait until
signal shows up
[11:41 am] Mitch K: for
me, this time of day, on Friday afternoon, i
just cant get excited to go after 20-30 cents
on a $42 stock. No offense Mike, but
you are probably younger and have more
energy. i try to take it easier toward
end of weekand this tool has helped me a lot
to be more selective and more
patient
[11:42 am] Mitch K: turns out
mike’s entry was good and that instinct is
good but its easier to have something like
this working for me because that is exactly
what it is doing, working for you.
Employee, doesnt argue, shows up everyday,
detailed and accurate
[11:43 am] Mitch K:
ok HAR chart coming up
[11:43 am] Mitch K:
good job mike
[11:43 am] Mitch K: that red
arrow is hidden but we are working on
that
[11:44 am] Mitch K: this is 1
min
[11:47 am] Mitch K: totora, this is
custom program we have been developing,
should be able to release it in September as
beta version for you guys. Just going
to release it to small group of people,
trading room users
[11:48 am] Mitch K: are
you short CE Victor51 at 40.80
[11:49 am]
Mitch K: the reason why releasing it to
Trading Room because you guys are more
dedicated, students of trading so you are
more motivated to learn, make
money.
[11:50 am] Mitch K: this is
CE
[11:50 am] Mitch K: where did you cover
Victor
[11:50 am] Mitch K: this is CE 1
min
[11:51 am] Mitch K: where did you
short and cover EXPE Rusty
[11:51 am]
Mitch K: nice trade on that mike
[11:52
am] Mitch K: which entry on CE
jason
[11:52 am] Mitch K: explain that
jason, which stock, which signals
[11:52
am] Mitch K: i know it is too low Doji, i am
trying to solve that
[11:54 am] Mitch K: i
can only repeat this jason, you dont take
every signal as a trade on stocks. what
you do is look for the big movers, load that
symbol in a chart window with Lightning, wait
for signal to open, then close, and maybe
take next trade
[11:59 am] Mitch K: ok
jason, this is CE 2 min
[12:04 pm] Mitch
K: ok, let me address some of jason’s
questions. i have been trying to
explain this all the way through the last
month or so that 1) we are still trying to
improve and tweak this so fewer signals show
up. we are working on filtering out the
weak signals and try to show only the
stronger ones. THis circled area on the
1 min chart on left are signals that we are
attempting to filter out. 2)
[12:07
pm] Mitch K: see that sell signal on the 1
min, that is used as your sell or stop
signal;
[12:08 pm] Mitch K: that first red
candle was clue we had a problem with
MNST
[12:13 pm] Mitch K: can i mess with
your heads for a moment
[12:13 pm] Mitch
K: victor, i like the 2 min setting for most
of the time just watching a stock and when it
looks like it is close to a signal, i add a 1
min on a 2nd chart and take the 1 min chart
signal
[12:14 pm] Mitch K: is this a thing
of beauty or what
[12:15 pm] Mitch K: this
is my slow motion setting, set it and forget
it mentality
[12:15 pm] Mitch K: qwert is
winner
[12:15 pm] Mitch K: i think whoever
guess what this is first gets a
prize
[12:16 pm] Mitch K: 1 hour 9 minute
trade
[12:16 pm] Mitch K: you dont hyper
trade EUR/USD, makes big moves over long
period of time so you can have that trade
going and not stare at it, can do other
stocks
[12:17 pm] Mitch K: lol
[12:17
pm] Mitch K: the price is qwert whatever Ed
decides to give you
[12:18 pm] Mitch K: ed
isnt that kind of guy doji, he likes that
African American boxing narrator on
Olympics
[12:19 pm] Mitch K: ok what did
Mitch King say about using this tool . . .
how many consecutive trades to take?
Jason, you answer first
[12:20 pm] Mitch
K: victor, i dont know about you,
lol
[12:20 pm] Mitch K: good job
[12:20
pm] Mitch K: ok anyone know that
answer?
[12:21 pm] Mitch K: right on mikie
baby
[12:21 pm] Mitch K: the bigger the
move . . . the better chance you are going to
get a good trade after your first
one
[12:21 pm] Mitch K: the bigger the
move . . . finish this
[12:22 pm] Mitch K:
what time on NFLX
[12:22 pm] Mitch K: what
else do you want to look at?
[12:23 pm]
Mitch K: NFLX 2 min
[12:24 pm] Mitch K:
see this part here in circle?
[12:25 pm]
Mitch K: what signal mike? that was old
data, 2 hours old
[12:25 pm] Mitch K: that
tells you it is really bullish where it just
consolidates and goes down a little or
sideways. you want to be watching for a
breakout on the upside
[12:27 pm] Mitch K:
this was a stock AKRX i forgot to post yet i
was watching it along with AEO.
sometimes i get spaced out. especially
when wife calls on phone and says she got in
car accident, she didnt hook up trailer
correctly and the gas barbeque is, oh
honey
[12:28 pm] Mitch K: i think the
filters will work really good though once we
are done
[12:28 pm] Mitch K: that signal
will not be there on beta version, thats a
weak signal, trying to filter those
out. both in blue circles
[12:29 pm]
Mitch K: trust but verify
[12:30 pm] Mitch
K: i got to go rescue wife on side of road
with my beautiful trailer she just
trashed. oh honey
[12:30 pm] Mitch
K: build trust by watching, testing,
verifying, practicing
[12:31 pm] Mitch K:
don’t you guys just love your wife when they
do that, lol?
[12:44 pm] Mitch K: got a
funny story
[12:45 pm] Mitch K: wife calls
and says “Dont come out, a couple of guys
stopped and got me on the road
again”.
[12:46 pm] Mitch K: oh boy, on the
couch again, with the boxers
[12:46 pm]
Mitch K: I said to her, “Hey why doesn’t
anybody stop for me? Oh, never mind, i
wouldn’t have made that kind of mistkae,
lol!”
[12:59 pm] Ed : Have a great weekend
traders
[01:02 pm] Mitch K: take care
guys, don’t do anything i wouldnt
do
| [07:14 am] skydiver : I agree shark –
will monitor it for a long as Mitch indicated
above
[07:15 am] shark :
😉
[07:16 am] eyes : S QCOR 39.86
with a 40.03 stop
[07:17 am] gregs :
shark, did you like that MNST setup? or
a pass for you
[07:17 am] shark : FB
popping higher out of consolidation
[07:18
am] shark : didn’t take it. too many
other positions
[07:18 am] gregs :
🙂
[07:18 am] mikewd2 -: nice short
eyes
[07:18 am] mikewd2 -: should fall
back to 39.40’ish
[07:19 am] doji :
No QCOR shares available for short in
TDA
[07:20 am] eyes : STop now BE on
QCOR
[07:21 am] victor51 :
Geniuscall MDVN. Missed
[07:22 am]
doji : FSLR L 21.06
[07:22 am]
doji : stop at b/e
[07:22 am]
eyes : Ed I have Stop at .72 look ok on
QCOR
[07:23 am] Ed : would move it to
.53
[07:23 am] eyes : at
.53
[07:24 am] mikewd2 -: eyes, did you
sell some qcor, move stop into profit
area
[07:24 am] doji : Nice in
QCOR… TDA owes me that
[07:24 am]
eyes : ya i only have 50 shares with
stop at .53
[07:24 am] skydiver :
yeah doji – no shares for QCOR S at
lilghtspeed
[07:24 am] skydiver :
nice eyes
[07:25 am] go4it : WTG
eyes!
[07:25 am] victor51 : Nice
Ed 1/3 out qcor
[07:26 am]
eyes : now above VWAP
.46
[07:26 am] shark : anybody
besides me having issues like this? The day
trading purchasing power in your account has
been exceeded for the day, and a day trading
call has been issued. Allowable purchasing
power is determined by NYSE Rule 431 and NASD
Rule 2520
[07:27 am] mikewd2 -: not me
shark
[07:27 am] eddy : you may
hsave purchased non marginable security
shark
[07:27 am] scalpman : holding
1/2 Pos. on JCP L @ 23.29
[07:27 am]
shark : hmmm…
[07:28 am] mikewd2
-: qcor might be done
[07:28 am] Ed :
would move stop to .43 eyes
[07:29 am]
doji : FB dropping
[07:29 am]
mikewd2 -: and there it drops haha
[07:29
am] eyes : i have stop .26
[07:29
am] Ed : nice
[07:29 am] scalpman :
sold 1/4 JCP L
[07:29 am] eyes :
out
[07:29 am] mikewd2 -: nice play
eyes
[07:30 am] go4it :
nice!
[07:30 am] eyes : thank you 3
for three all very small positions
[07:30
am] scalpman : trailing up stop…JCP
L
[07:30 am] skydiver : very nice
eyes –
[07:30 am] doji : Watching
MDRX for possible breakout to fill gap on
daily @ 11.66
[07:30 am] Ed : dont where
bout size, consistency is key
[07:31 am]
eyes : Yup I agre
[07:31 am]
scalpman : All out =JCP L
[07:31 am]
skydiver : nice scalp
[07:32 am]
scalpman : Thanks sky…having a great
day…
[07:32 am] eyes : i had a .26
stop and it filled .35 ):
[07:33 am]
skydiver : great scalp 🙂
[07:36 am]
scalpman : JCP may hold at 23.50 then
try for newer high…
[07:40 am]
scalpman : out JCP small
profit
[07:40 am] scalpman : JCP not
bouncing
[07:40 am] qwert : watching
impv
[07:43 am] shark : ouch,
Mitch
[07:46 am] eyes : Watch ACI
low price stock thou
[07:49 am]
ben4givn : having problem with etrade
pro locking up since monday
[07:49 am]
mikewd2 -: i have that issue everyday
ben
[07:50 am] ben4givn : they said
they’re working on it
[07:50 am] mikewd2
-: i get disconnected alot
[07:51 am]
mikewd2 -: dang missed WLT short tried for
39.30
[07:51 am] scalpman : WLT S
nice one Ed.
[07:51 am] mikewd2 -: a penny
cost me
[07:51 am] scalpman :
covered 1/2 WLT S
[07:52 am] eyes :
It Happens Mike
[07:52 am] eyes :
ACI looks interesting
[07:52 am]
ben4givn : wlp topping
[07:55 am]
scalpman : WLT S next target
38.80
[07:55 am] eyes :
TOT
[07:57 am] eyes : passed on aci
and tot
[07:57 am] shark : FB held
vwap. now just touched hod for
retest
[07:57 am] skydiver : CF –
down trend for awhile
[07:58 am]
shark : FB looks like it wants
higher
[07:59 am] skydiver : IPO –
opening shortly — PFMT
[07:59 am]
shark : FB testing R3 res
[08:00 am]
shark : decent buy vol
[08:00 am]
khall : SMG – no shares short at
IB
[08:00 am] scalpman : SMG S
….good one Mitch
[08:00 am]
skydiver : PFMT IPO now open
[08:00
am] mikewd2 -: shares at etrade for short on
SMG
[08:01 am] scalpman : Cover 1/2
SMG S
[08:05 am] scalpman : covered
1/4 WLT S
[08:06 am] mikewd2 -: PFMT nice
move up on IPO
[08:06 am] skydiver :
out of PFMT L 9.33 – 9.86
[08:06 am]
mikewd2 -: nice sky, tried to get at 9.25 and
misssed
[08:06 am] skydiver : thnx
mike –
[08:07 am] scalpman : Small
profit on PFMT L (in and out)…
[08:09
am] scalpman : all out SMG S (stopped
on last piece b.e.)
[08:09 am]
skydiver : Need to take a 1/2 hour
break or so — be back 🙂
[08:09 am] Ed :
c ya sky
[08:09 am] khall : later
sky
[08:16 am] mikewd2 -: SMG S
41.90
[08:17 am] scalpman : L PFMT @
9.99 avg
[08:20 am] eyes : Everyone
Good Luck I will be back in a few hours to
slow
[08:21 am] Ed : nice choice
eyes
[08:22 am] scalpman : All out
PFMT L
[08:24 am] scalpman : still
holding 1/4 pos WLT S
[08:26 am]
scalpman : All out WLT S..
[08:26
am] scalpman : OTEX
[08:27 am]
scalpman : …consolidating
[08:27
am] scalpman : wide spread
[08:29
am] scalpman : I’m flat… back in
5
[08:38 am] qwert : jcp back at
23
[08:43 am] qwert : EXPE coming
into 54 area
[08:43 am] Ed : needs to do
some back flips, that trend is pretty
ugly
[08:44 am] qwert : got short at
.64 🙂
[08:44 am] Ed :
nice
[08:55 am] qwert : monitoring
DE
[08:59 am] qwert : Ed whats your
opinion on DE
[09:00 am] Ed : tad
different from my style, Mitch like
those
[09:00 am] Ed : I would let it run
more
[09:00 am] mikewd2 -: its running
like a deer
[09:00 am] Ed : lol
[09:00
am] qwert : hahaha
[09:01 am]
qwert : thx
[09:01 am] Ed : but
action is same look for topping
[09:02 am]
doji : NFLX
[09:04 am] shark :
nice doji
[09:05 am] mikewd2 -: SMG
turning over
[09:06 am] scalpman :
DE dropping
[09:10 am] doji :
Capital Research reports 10.5% stake in
NFLX
[09:11 am] shark : there’s a
household name for you
[09:12 am] Ed :
nice doji
[09:12 am] Ed : each breakout u
got the vol
[09:14 am] jsn13 : doji,
what price u got for NFLX breakout? and where
was ur stop once u entered?
[09:17 am]
scalpman : DE finallly
breaking
[09:17 am] scalpman : Time
to go…great calls today by Mitch, Ed and
the trading room.
[09:17 am]
scalpman : Thanks guys.
[09:17 am]
doji : Sorry Jason, multitasking here,
taking a conference call… answer
later
[09:18 am] Ed : have great weekend
scalp
[09:18 am] scalpman : See you
all Monday…
[09:18 am] scalpman :
Bye Ed..
[09:18 am] gregs : see you
scalp, good job
[09:18 am] scalpman
: Scalpman has left the building!
[09:22
am] qwert : Ed r u long NFLX
[09:23
am] Ed : an optimal point jsn would have been
entry @ 12:02 and with stop anywhere below
58.45
[09:23 am] Ed : ye I took the 2nd
breakout since I missed the 1st one
[09:24
am] Ed : I took on 12:08est
[09:24 am]
jsn13 : ok ed, in this case u mean
below the breakout bar right?
[09:24 am]
gregs : nice trading
[09:25 am] Ed :
yes
[09:27 am] gregs : hey ed, this
has been a rough week, i wrote up my weekly
review… would you take a look see if i’m on
the right planet
[09:27 am] Ed : hope that
helps, just labeled it, and u want that vol
alos
[09:27 am] gregs : trading
wise
[09:28 am] Ed : alos=also
[09:28
am] go4it : Ed are you still interested
in EXPE L ?
[09:29 am] Ed : not anymore,
already traded it 11:46est
[09:29 am]
go4it : thx Ed
[09:29 am] Ed : thx
for reminder
[09:30 am] Ed : yea the old
saying u keep getting into water too much u
get bit. So, I tend to hit it once and move
on and when day is slow like this I try to
slow it down
[09:31 am] Ed : unlesss
something really shows up nicely like a news
mover or stock breaking out or down on vol
like NLFX did
[09:32 am] Ed : how is
trading coming along Bruce
[09:33 am]
victor51 : Is DE dead?/ Any
insight
[09:34 am] Ed : not my style of
trade victor, if ur not in it I would
pass
[09:35 am] Ed : whats for
lunch
[09:35 am] victor51 : i am in
with very tight limit
[09:35 am]
doji : Was NFLX that Apple took as
bolloinger squeeze before?
[09:36 am] Ed :
not sure doji I never had pleasure of using
bollinger
[09:36 am] victor51 : DE
crossing 50 mva
[09:37 am] doji : By
the way, where is Apple when once need
her?
[09:37 am] doji : one
[09:39
am] go4it : Sorry Ed steppedaway from
computer trading is intermittent. Got offer
on house and very busy.
[09:39 am]
doji : Wathing SLB on the daily; has
been moving higher on lower volume in the
last 4 days
[09:40 am] Ed : thats good
news except for the moving process
[09:40
am] qwert : EXPE approaching breakdown
on daily
[09:41 am] go4it : yeah
it’s a B
[09:41 am] Ed : u got that
right
[09:44 am] victor51 : OUT DE
short Got lunch money
[09:44 am]
eyes : Did i miss anything
[09:44
am] eyes : AEO
[09:47 am] doji
: Still no V in NFLX breakdown
[09:48 am]
victor51 : Ed, is blue line vol. ave
and how do you use it
[09:49 am] Ed : just
focus on vol bars, green/red
[09:49 am] Ed
: i dont use that blue thing, need to take it
off
[09:49 am] victor51 : Thanks
ED
[09:50 am] Ed : no problem
[09:50
am] doji : See Volume in NFLX
breakout
[09:53 am] Ed : I would play tad
more skeptical, its become much more
obviouse
[09:53 am] doji : all out
NFLX here… from 58.02… no taking
prisoners during the weekend
[09:54 am] Ed
: nice trading doji
[09:54 am] qwert
: nice Doji
[09:54 am] Ed :
multi-taskertraderopecking
[09:54 am]
qwert : hahaha
[09:54 am] doji
: Yeap
[09:55 am] jsn13 : doji, how
u time ur exit? how u survive through the
12.20ish toppy action?
[09:56 am] Ed :
they should have woman wrestling in olympics
instead of men
[09:56 am] eyes : Hey
can you link Madscan to Ninja
[09:56 am]
doji : Jason, I took half of my
position after NFLX didn’t make new lows and
then at the breakout above 58. I averaged
58.02
[09:57 am] doji : Then I just
trailed my position
[09:57 am] doji
: I knew that it would be pushed above 60
after the breakout at 59
[09:58 am]
doji : at then just put my limit order
at 60.15 and was filled
[09:59 am]
eyes : S AEO .67 out for .62 it bounced
off of the 20ma
[10:00 am] jsn13 :
ok doji, where is ur 1st entry?
[10:00 am]
eyes : [09:56 am] eyes : Hey can
you link Madscan to Ninja
[10:02 am]
eyes : Watching GNC
[10:12 am]
eyes : Did anyone get GNC nice
move
[10:14 am] eyes : no volume but
it worked
[10:15 am] eyes : AEO
Breaking down to
[10:18 am] qwert :
AMZN broke down from consolidation
[10:21
am] jsn13 : Ed, did u get that GNC
long?
[10:22 am] Ed : no
[10:22 am]
jsn13 : ok u passed or
missed?
[10:22 am] Ed : was
eating
[10:23 am] jsn13 : haha but
do we have an edge there?
[10:23 am]
mikewd2 -: little drop in SMG
[10:23 am]
Ed : yea was nice setup
[10:24 am]
victor51 : Ed, i see two dojis at LOD
for GNC at 10:02 Was that bullish
sign?
[10:26 am] Ed : not so bullish but
rather sellers neutralizing
[10:26 am] Ed
: meaning they are not as dominant
[10:26
am] jsn13 : indecision at
37…..
[10:27 am] eyes : Also
bounced off of even number
[10:32 am]
victor51 : Ed, big doji signals big
move in either direction. Do you
agree?
[10:33 am] Ed : could be either
way, sometimes u get resumption of prevailing
trend or move in opposite direction
[10:35
am] victor51 : But most likely it will
not consolidate in narrow range?
[10:35
am] eyes : did you see my question on
even number Ed
[10:37 am] Ed : right vic
typically u get quick move
[10:38 am]
victor51 : Thanks Ed
[10:39 am]
victor51 : Eyes r u talking about GNC
37??
[10:40 am] Ed : has some value
eyes
[10:40 am] eyes : yes training
the EYES vic 4 for 4
[10:41 am] eyes
: thanks Ed
[10:42 am] eyes : less
trades as well
[10:42 am] Ed : but good
rule natural supp/resistance decade whole #s
10,20,30,40,50,100 etc
[10:43 am] Ed :
then 1,2,3,4,5,6,7,8,9 etc. also every .50
interval
[10:43 am] eyes : Got that
one for shure
[10:45 am] mikewd2 -:
covered SMG S 41.73
[10:46 am] mikewd2 -:
watching DAR at resistance pivot
[10:47
am] eyes : cool
[10:49 am]
murano : CE
[10:53 am] eyes :
S .16 Stop .24 on CE
[10:54 am] eyes
: stoped out
[10:55 am] mikewd2 -: looked
like a reasonable short eyes
[10:55 am]
eyes : My gut told me it was not acting
right
[10:56 am] eyes : but then
again i get really inpatieant
[10:57 am]
skydiver : CE news – jury ruled in
favor of CE — CE did not violate terms of
it’s contract and it should continue
–
[10:57 am] Ed : thx sky
[10:58 am]
skydiver : a bit late, but . . . just
got back onto my computer
[10:59 am]
eyes : Well i Think I am Going to call
it a day 4 green days in a roll small but
green
[10:59 am] skydiver : nice
eyes – green is green 🙂
[10:59 am] Ed :
nice eyes
[11:00 am] qwert : way to
go eyes have a great weekend
[11:01 am]
eyes : o wait I am done after watching
Mitchs Presentation
[11:01 am]
skydiver : good idea eyes
[11:03 am]
jsn13 : Ed, did u take CE
short?
[11:03 am] victor51 : Nice
eyes
[11:04 am] Ed : not yet
[11:05 am]
jsn13 : what level would u be
interested?
[11:05 am] Ed : paying
attention to the action
[11:05 am] mikewd2
-: CE S 40.99
[11:17 am] mikewd2 -: head
& shoulders pattern on CE. now give
me the other drop
[11:20 am] mikewd2 -:
not restaurant Mitch
[11:21 am]
jsn13 : nice mitch….
[11:21 am]
mikewd2 -: SMG S 42.25 again
[11:22 am]
jsn13 : Is this 2min chart?
[11:24
am] mikewd2 -: is a sell signal and short
same thing?
[11:24 am] mikewd2 -: thanks
Mitch
[11:25 am] jsn13 : To evaluate
the reward, u use 50% retracement?
[11:25
am] jsn13 : i mean potential
reward….
[11:26 am] victor51 :
Mitch, how did you read .20 potential on
SMG?
[11:27 am] ben4givn : was there
a signal to cover short?
[11:27 am]
mikewd2 -: I’m looking for 40 cents on
SMG
[11:30 am] ben4givn : L
expe
[11:31 am] rusty : ben dont
care about arrows/
[11:31 am] rusty
: ?
[11:32 am] mikewd2 -: covered CE short
40.53 +0.46
[11:33 am] Ed : nice
mike
[11:33 am] mikewd2 -: worked out
nice, did a 2x positon on it
[11:34 am]
mh : HAR trying for hod
[11:34 am]
victor51 : How do incl. JCP earning
into puzzle
[11:37 am] mh : har
moving
[11:37 am] victor51 : Thanks
Mitch. That will make life easier
[11:38
am] rusty : EXPE come to papa
[11:38
am] rusty : thanks for
headsup
[11:40 am] victor51 : 42
based on 50 mva??
[11:41 am] eddy :
test
[11:41 am] mikewd2 -: i shorted
because it turned over before previous
hod
[11:41 am] mikewd2 -: and last low was
a lower low
[11:41 am] jsn13 :
Mitch, can we look at the HAR
chart?
[11:42 am] mikewd2 -: i understand
Mitch, but no i’m older than you
[11:42
am] mikewd2 -: double nickels –
haha
[11:42 am] victor51 : itch, but
i lower my expectation at end of day so happy
with .25
[11:43 am] mikewd2 -: Mitch is
right, probably not a great trade idea – i
was looking for 41.85 as target
[11:45 am]
totora : how do you get the green and
red arrows (sell and buy signal) in thet
chart They look great
[11:45 am]
jsn13 : is this a good chart + signal
that u would suggest to short
mitch?
[11:45 am] doji :
AAPL
[11:47 am] victor51 : how about
CE short 40.80
[11:48 am]
skydiver : Looking forward to Lightning
Mitch –
[11:48 am] doji : Nice
Mitch
[11:48 am] victor51 :
yes
[11:49 am] victor51 : Mitch
stopped out made little
[11:50 am]
skydiver : that’s for sure Mitch
🙂
[11:50 am] rusty : covered EXPE
ty Mitch
[11:50 am] skydiver : nice
one rusty
[11:50 am] mikewd2 -: stopped on
HAR short
[11:50 am] mikewd2 -: i shorted
CE at 40.99, covered at 40.53
[11:51 am]
doji : Mitch, the signal is too low on
the chart
[11:51 am] doji :
EXPE
[11:52 am] jsn13 : Mitch, looks
like both Lightning signals would cost u
money…would be stopped out on both i
think….
[11:52 am] doji : Ah, ok
thanks
[11:52 am] jsn13 : CE….look
at ur entry….
[11:52 am] victor51
: Mitc, 45.40 for CE covered. Thanks
Mitch
[11:52 am] mikewd2 -: on CE not sure
you would have got stopped if you bought long
at 40.55’ish
[11:53 am] mikewd2 -: yes you
got a sell signal but my stop would have been
below 40.5
[11:53 am] gregs : not
sure you’d want to play with CE right now, so
choppy
[11:53 am] mikewd2 -: right
gregs
[11:54 am] jsn13 : erm i mean
ur CE sell signals at 11.02 pst and 11.06
pst…
[11:54 am] mikewd2 -: as rusty said
before on lightning, you still got to use
your trader knowledge
[11:54 am]
eddy : mitch tell me
somethiong
[11:54 am] qwert : MK did
har ever generate a cover signal
[11:54
am] eddy : the first 2 arrows on CE are
red where is the green?
[11:54 am]
jsn13 : so did CE and HAR offer good
setup?
[11:55 am] victor51 :
Lightening will be huge help to new student
my like with 3 months underbelt
[11:55 am]
qwert : eddy 2 candles to the right of
the first down arrow
[11:55 am]
qwert : under candle partway
[11:56
am] mikewd2 -: DAR turning over at
17
[11:56 am] eddy : oh ok cud nt
see it it is covered
[11:56 am] eyes
: Mitch May i suggest one thing if you change
the buy signal to blue it might show up
better on the hidden candles arrow
[11:56
am] jsn13 : woulld u teach us to select
the ones with good setup? will u host the
webinar in trading hours so that we can test
it in real time? and learn how to evaluate
the quality of trades once u released
Lightning?
[11:57 am] mikewd2 -: or
blinking green – haha
[11:57 am] mikewd2
-: spell out “BUY” here
[11:57 am]
rusty : or have it just press the buy
and sell buttons for us
[11:57 am]
eyes : that might work to Mike
(:
[11:57 am] skydiver : too funny
guys 🙂
[11:58 am] qwert : MNST
probably a real good one to look at nice
moves
[11:58 am] mikewd2 -: HAR still
heading up, 0 for 4 on lightning
plays
[11:58 am] Ed : key is u want
volatility, nice movers.
[11:59 am]
rusty : and shakers
[11:59 am]
eddy : so mitch we start with those
that gap up nd down?
[11:59 am] Ed : right
those slow grinders up or down are still more
like advanced type plays if going against
graing or prevailing trend
[11:59 am]
jsn13 : that looks way better….but is
that a nice setup?
[11:59 am] rusty
: parabolic moves show up nicely
[11:59
am] qwert : MNST moving good
[12:00
pm] Ed : right rusty
[12:00 pm] eyes
: CAN we see a CL chart just for the heck of
it
[12:01 pm] qwert : MNST at
54
[12:01 pm] eyes : OIL
[12:01
pm] Ed : u still short qwert
[12:01 pm]
qwert : yep
[12:01 pm]
skydiver : nice qwert
[12:02 pm] Ed
: nice just dont take her home
[12:02 pm]
qwert : no way
[12:02 pm]
rusty : MNST radar
[12:02 pm]
mikewd2 -: i expect a sell off of markets
before close today
[12:02 pm] jsn13
: Mitch, Let’s look at MNST real time
now…
[12:03 pm] jsn13 : Ed, did u
take MNST long?
[12:03 pm] Ed :
nope
[12:03 pm] doji : Watching MNST
at 53.7
[12:03 pm] jsn13 : still too
negative on daily? I did not either but looks
good…
[12:04 pm] mikewd2 -: bounced
right off support pivot on MNST
[12:05 pm]
mikewd2 -: but MNST in a downtrend over last
several days
[12:06 pm] jsn13 : ok
good mitch, looking forward to see those
changes….that’s the importance of the
strengthness meter that u r talking about the
other day…that u would release it in the
next version….
[12:08 pm] qwert :
nice
[12:09 pm] qwert : So with good
execution probably break even or small loss
on long attempt for mnst?
[12:10 pm] Ed :
right qwert the more experienced small profit
on that one
[12:10 pm] victor51 :
Mitch, which will work better 1 or 2 min for
entry on Lightening?
[12:10 pm]
qwert : this is gonna be fun
[12:13
pm] qwert : yep
[12:13 pm]
gregs : ofc
[12:13 pm] Ed : i was
born confused
[12:14 pm] qwert : u
always do :))
[12:14 pm] doji
: One red sinal after a green one in the 2min
chart; not all signals are realiable. You
have to use your trading skills
also
[12:15 pm] gregs :
yen/cad
[12:15 pm] Ed : right doji, like
knowing this stop overall on daily is
downtrend
[12:15 pm] qwert :
euro/dollar
[12:15 pm] gregs : 50
pips nice
[12:15 pm] mikewd2 -: MNST broke
support pivot and whole number support – weak
puppy
[12:15 pm] qwert : yeah whats
my prize lightning free for
life
[12:16 pm] qwert :
:))
[12:17 pm] murano : Is the
euro/dollar chart a one minute?
[12:17 pm]
Ed : oh great
[12:17 pm] doji : Ed.
give QWERT a kiss
[12:17 pm] qwert :
hahaha
[12:17 pm] Ed : noooooooo
waaaaaaaaay
[12:17 pm] doji : Jus
one
[12:17 pm] Ed : yep he lives in brazil
LOL
[12:18 pm] qwert : hes saving
them all for you Doji
[12:18 pm]
doji : hahahhah
[12:18 pm] Ed :
lol
[12:18 pm] qwert :
hahaha
[12:18 pm] Ed : yep its
friday
[12:18 pm] doji : ah Ok, I
git it
[12:20 pm] qwert : 2 or
3
[12:20 pm] victor51 : 5 to
7
[12:20 pm] doji : 2
[12:20 pm]
jsn13 : 2
[12:21 pm] jsn13 : I
understand that we need big moves, high
volatility….no worry…..
[12:21 pm]
mikewd2 -: the bigger the reverse
move
[12:21 pm] jsn13 : the higher
the validity fo ur signals
[12:22 pm]
jsn13 : NFLX
[12:22 pm] doji :
Oil stocks pushing higher
[12:22 pm]
mikewd2 -: volume
[12:22 pm] jsn13 :
9.30-10.30 pst
[12:23 pm] qwert :
wow atpg only .37 cents 18.00 at the
beginning of the year
[12:23 pm]
victor51 : mitch, I meant if you get 5
big signals, and alerts due to mkt condition,
5 looks bad?
[12:24 pm] jsn13 : Ok
Mitch, congratulations, Lightning passed my
test….
[12:24 pm] jsn13 : thats
grabage
[12:24 pm] jsn13 :
*garbage
[12:24 pm] mikewd2 -: don’t like
the buy signal it just provided
[12:25 pm]
mikewd2 -: consolidation
[12:25 pm]
jsn13 : yup exactly what I’m thinking
about looking at the signals…
[12:25 pm]
mikewd2 -: ok Mitch sorry
[12:27 pm]
jsn13 : Mitch what stock is this? so do
u exit at 9.30ish pst sell signal?
[12:28
pm] mikewd2 -: i think on AKRX if you were
long at the bottom, and get a sell signal you
just move your stop up some and it should
filter out any bogus sells
[12:29 pm]
mikewd2 -: all of us should be able to filter
that out
[12:29 pm] mikewd2 -: i wouldn’t
have sold there
[12:29 pm] jsn13 :
thanks Mitch for addressing my concern….now
i can leave my mind blank when
executing….full trust….
[12:29 pm]
gregs : right, even trailing a 20ma
stop would have filtered that
[12:30 pm]
gregs : or smt like that
[12:31 pm]
jsn13 : Hope to see those changes that
u mentioned Mitch….
[12:31 pm] Ed :
enjoy
[12:31 pm] gregs : thanks for
the show mitch
[12:31 pm] mikewd2 -: take
care Mitch, enjoy the weekend
[12:31 pm]
qwert : she okay
[12:31 pm]
doji : Yes
[12:32 pm] doji :
Don’t worry, she will blame you Micth one way
or another
[12:32 pm] doji : Just
say yes or you will have to sleep with the
cat
[12:32 pm] skydiver : Have a
great week-end all and hope Mitch’s trailer
is not too bad and wife okay 🙂
[12:33 pm]
victor51 : Take care of your loveone.
You can get a new trailer just in a week or
less with Lightening
[12:33 pm] Ed : take
care sky
[12:33 pm] eyes : Have a
awesome weekend everyone
[12:33 pm]
gregs : what do people think of ken
calhoun?
[12:33 pm] gregs :
http://www.tradingtalk.com/showthread.php?301
-How-I-Made-16-825-In-My-IB-Account-on-4-9M-o
f-Trades-In-2009
[12:33 pm] Ed : c ya
eyes
[12:34 pm] qwert : cya
eyes
[12:34 pm] Ed : another great
teacher
[12:34 pm] gregs :
16k? i need to make more than that
dammit
[12:34 pm] cowboyh : Bring it
down Mitch I’ll fix it up for you
[12:34
pm] mikewd2 -: i like ken gregs
[12:34 pm]
qwert : How about the Lakers loaded now
for next season!!
[12:34 pm] mikewd2 -:
took a class on breakouts a couple weeks
ago
[12:35 pm] doji : Mike, are you
in any oil stock?
[12:35 pm] mikewd2 -:
yes, same ones
[12:35 pm] doji :
WFT, CJES, FST
[12:35 pm] mikewd2 -:
yep
[12:35 pm] doji :
swing?
[12:35 pm] mikewd2 -: yep
[12:35
pm] mikewd2 -: same as always
[12:35 pm]
gregs : just curious… i bought his
daytrading course
[12:35 pm] mikewd2 -:
didn’t reduce any cjes, actually bought
more
[12:36 pm] doji : I closed all
of them, just day trading
[12:36 pm]
gregs : see how it goes
[12:36 pm]
mikewd2 -: was it good gregs?
[12:36 pm]
doji : Sell when eveyone is
buying
[12:36 pm] mikewd2 -: was it live
or dvd?
[12:36 pm] gregs : haven’t
started… was spending alot of time at smb
training
[12:36 pm] gregs : its the
website… mostly about trading 1st
hour
[12:36 pm] Ed : u will not go wrong I
took it 3 years ago gregs
[12:36 pm]
doji : Whihc course Gregs?
[12:37
pm] doji : and Ed
[12:37 pm] Ed : i
took trade mapping and tape reading
[12:38
pm] Ed : thing i like about what he offers is
u can focus on area u want to improve without
buying all the courses
[12:38 pm]
gregs : i just says Daytrading
University Online Course
[12:38 pm]
mikewd2 -: i haven’t implemented his breakout
strategy yet, have the scan in radarscreen
down so know the how to filter for which
stocks to watch
[12:39 pm] mikewd2 -:
working on an easylanguage program to provide
my breakout alerts
[12:39 pm] mikewd2 -:
slow going though
[12:39 pm] gregs :
nice mike
[12:39 pm] Ed : of course u were
on vacation
[12:40 pm] mikewd2 -:
yep
[12:40 pm] shark : 🙂
[12:40
pm] mikewd2 -: didn’t have internet
connection in jamaica at the beach
[12:40
pm] Ed : slacker, u keep banks
hours
[12:40 pm] mikewd2 -: haha
[12:40
pm] doji : Gregs, is that one that
gives you access to all the videos for the
next 18 months?
[12:41 pm] mikewd2 -:
that’s the one i was looking at doji to
do
[12:41 pm] mikewd2 -: but havent signed
up yet
[12:41 pm] gregs : yes it was
12 months plus 6 months free, that
one
[12:42 pm] doji : Is that the
same you took Ed?
[12:42 pm] doji :
Hey greg, are you in FB with the rest of the
fellas?
[12:43 pm] mikewd2 -: he is
doji
[12:43 pm] gregs : yes sir,
also greg there 🙂
[12:43 pm] doji :
SLB the strongest oik stock today
[12:43
pm] Ed : no i just took two courses
[12:43
pm] doji : Ok
[12:43 pm] doji
: Will drop you an e-mail Gregs
[12:43 pm]
gregs : i like the smb blogs
[12:44
pm] doji : SLB spiking
[12:44 pm]
mikewd2 -: yeah dissappointed in CJES doji,
SLB did good
[12:44 pm] gregs : cool
doji, i can try to dig up a link
[12:44
pm] mikewd2 -: SMG moving
[12:45 pm]
mikewd2 -: lets hear it Mitch
[12:45 pm]
mikewd2 -: great
[12:45 pm] mikewd2 -: a
bit scary though
[12:45 pm] Ed : Im sure
Mitch feels like a million $
[12:46 pm] Ed
: lol
[12:46 pm] Ed : lol
[12:47 pm]
doji : Wow, market rallying at the
close
[12:47 pm] Ed : uncle Ben has to
make it look good. Wants to keep his job u
know
[12:48 pm] doji : Is he
speaking?
[12:48 pm] mikewd2 -: yeah, went
the opposite as i thought doji
[12:48 pm]
Ed : no just busy buying futures to get that
last pop b4 market closes
[12:49 pm]
mikewd2 -: take care everyone, have a great
weekend!
[12:49 pm] Ed : take care
mike
[12:49 pm] doji : Sell when
everyone is buying!
[12:57 pm] rusty
: hagw everyone
[12:58 pm] Ed : take care
rusty
[01:02 pm] qwert : goodnight
see ya all on monday morning
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