[06:16 am] Mitch K: watching BPT for another
bottom to buy long early this morning.
i would think the first bounce off a bottom
would be strongest, esp if it drops
more
[06:23 am] Ed : good morning
traders
[06:30 am] Ed : no hurry
[06:30
am] Ed : monitoring STX
[06:34 am] Mitch
K: watching ESV for bottom,
[06:35 am]
Mitch K: watching STX for bottom
[06:35
am] Mitch K: monitoring TROW
[06:36 am]
Mitch K: watching SHLD for bottom to
buy
[06:38 am] Mitch K: watching CLF for
bottom
[06:39 am] Mitch K: watching VC for
top to short
[06:40 am] Mitch K: looks
toppy here
[06:40 am] Mitch K: watching
BPT for top to sell long, soon
[06:41 am]
Mitch K: not shorting BPT, focusing on the
long side
[06:41 am] Mitch K: along with
other indexes, should help longs
[06:41
am] Mitch K: Nasdaq bouncing
[06:42 am]
Mitch K: watching SHLD closer
[06:43 am]
Mitch K: watching PPO for short, prefer
rebound first
[06:45 am] Mitch K: BPT
toppy
[06:45 am] Mitch K: monitoring BRLI
drop, low vol but big drop
[06:46 am]
Mitch K: sell signal on 1 min of BPT
chart
[06:51 am] Ed : AMZN trading at key
area 250 for advanced traders
[06:52 am]
Mitch K: watching VRA for bottom
[06:52
am] Ed : be flexible and prepared for what
market gives
[06:53 am] Mitch K:
?
[06:53 am] Mitch K: ok khall, shark
still long BPT
[06:53 am] Mitch K: how you
guys doing with BPT
[06:54 am] Mitch K:
BPT
[06:54 am] Mitch K: and the buying
just powered through that 1 min sell signal
on BP
[06:54 am] Mitch K: ok on a really
powerful moving stock like BPT is right now,
i like to wait for a sell signal on a longer
time frame like 2 min
[06:55 am] Mitch K:
VRA bouncy
[06:55 am] Mitch K: thats why i
have 2 charts up on open positions
[06:55
am] Mitch K: not even a hint of selling in
BPT yet, just that one pause on the 1
min
[06:56 am] Mitch K: remember what i
said yesterday about BPT, it came down from
$120 so the bungie cord is stretched down a
lot to tday’s $75 low.
[06:57 am] Mitch K:
getting sell signal on the 1 min of
BPT
[06:57 am] Mitch K: the issue with BPT
is some sort of tax treatment on dividends,
havent studied it closely and other similar
companies reduced dividend
[06:59 am]
Mitch K: getting toppy here on BPT
[06:59
am] Ed : if u were able to short AMZN would
cover some here
[06:59 am] Mitch K: you
also have people who are short the stock and
are covering to capture their profits.
thats same as buying long, no difference, it
drives up the stock
[06:59 am] Mitch K:
well whatever the news is with BPT is not
important now, it is all out into the
marketplace and priced into the stock but
this rebound is still strong. only time
stocks don’t rebound after big drops is
fraud, bankruptcy
[07:00 am] Mitch K: now
if BPT drops hard, maybe to 80-81 i’d look
for another quick long scalp but nothign like
we just saw from 75 to 84.50
[07:00 am]
Mitch K: consider reducing BPT long
[07:01
am] Mitch K: i’d forget any fibonacci
pullback numbers on this one
[07:01 am]
Mitch K: if you do any shorting on BPT, it
has to be quick and nimble because there
still will be a lot of buying on this, wont
even go down 1/3rd the way down or 1/4th of
this rise
[07:02 am] Mitch K: khall shark
still long BPT?
[07:02 am] Mitch K: there
is a lot of buying pressure to cover any
shorts
[07:04 am] Mitch K: VRA weakening
on this bounce
[07:04 am] Mitch K: got
sell signal on the 2 min of BPT
chart
[07:05 am] Mitch K: hope you guys
got out of STX long, i tend to get a little
focused on a big mover like BPT
[07:07 am]
Mitch K: watching GLNG for top to short,
missed bottom while watching BPT
[07:07
am] Mitch K: sell signal on VRA
[07:08 am]
Mitch K: anyone following along the SRPT long
from the Daily Stock Report? ive been
saying sustainable long chart, really jumped
up today
[07:09 am] Mitch K: it is a “go
to” sector when nothing else is
working
[07:09 am] Mitch K: biotech stocks
can really catch on fire, been consistently
doing that in cycles since I started trading
everyday in 1993
[07:11 am] Mitch K: i was
referring to BPT chart
[07:11 am] Mitch K:
ok see the charts now….. this last 10
minutes is what you call a consolidation
where it drifts down slightly but mostly
sideways, not a lot of selling, thats really
bullish and you look for another move up if
it is acting like this
[07:14 am] Mitch K:
when i am shorting a stock and the charts
look like a consolidation, not a correction,
i get nervous
[07:15 am] Mitch K:
monitoring COH
[07:16 am] Mitch K: FSLR in
a sell cycle last two days, could last for
weeks but maybe not as steep of a drop as
last two days
[07:17 am] Mitch K: FSLR is
not a stock i like to try to buy long scalps
with when it is in that correction
cycle
[07:19 am] Mitch K: watching M for
bottom to buy
[07:19 am] Mitch K: watching
KORS for top to short
[07:22 am] Mitch K:
if you bot BPT long in the last 1.5 points,
watch closely for another top, still OK but
not as strong as that first move
[07:23
am] Ed : SPY new lod
[07:25 am] Mitch K:
looking for cover point on COH short
soon
[07:26 am] Mitch K: still watching M
for bottom
[07:27 am] Mitch K: watching
TNGO closer
[07:27 am] Mitch K: starting
to watch UTHR for bottom,
[07:27 am] Mitch
K: nice one scalpman
[07:29 am] Mitch K:
was originally scheduled for THursday for
Bernanke
[07:29 am] Mitch K: has Bernanke
speech been made yet from Jackson Hole?
i have not been listening to tv
[07:30 am]
Mitch K: BPT still strong
[07:30 am] Mitch
K: ok, latest news is Friday, was THursday
though
[07:31 am] Mitch K: i think more
upside on BPT being so strong now and market
at low of day
[07:32 am] Mitch K: GLNG
trending up today
[07:35 am] Mitch K:
looking for 40.44 area on M bounce, be
flexible
[07:36 am] Mitch K: looking for
16.80 area on TNGO
[07:37 am] Mitch K:
consider covering PPO if short
[07:38 am]
Mitch K: looking for 27.40 area on BRLI, be
flexible
[07:39 am] Mitch K: starting to
watch FSLR closer
[07:41 am] Mitch K: more
upside on BPT
[07:43 am] Ed : would cover
more AMZN
[07:43 am] Mitch K: forget UTHR,
dont like it
[07:47 am] Mitch K: BPT is
still buy on a dip, shallow dip
[07:48 am]
Mitch K: when market starts bouncing, BPT
probably gets more buying too
[07:49 am]
Mitch K: should get a bounce on KORS,
consider covering any short
[07:50 am]
Mitch K: watching AGU for bottom, should be a
good bouncer today after it bottoms
[07:51
am] Ed : SPY lowere lows
[07:54 am] Mitch
K: monitoring FRX
[07:54 am] Mitch K:
consider selling M
[08:03 am] Mitch K:
whats your most recent long entry
price?
[08:03 am] Mitch K: anyone long
BPT
[08:04 am] Mitch K: nice.
this is the scalp of the month, maybe of the
quarter
[08:06 am] Mitch K: you see, BPT
is a different animal than a normal scalp we
see, it is really a swing trade entry if you
guys look at that ideal long entry pattern i
like.
[08:07 am] Mitch K: it is just that
today is the right day for the bottom in the
swing trade and we got it on the day
trade
[08:09 am] Ed : nice bounce in
SPY
[08:08 am] Mitch K: now if or when BPT
has a 2-3 point drop, i think people will be
buying that dip, especially on teh first big
drop
[08:20 am] Mitch K: now what your
thinking should be on a big runner like BPT
is you buy on those dips and sell on next
top, your hold time gets shorter and shorter
and you arent looking for that big move we
had from 76 to 84. you are just trying
to pick up $1-2 at a time on this
[08:24
am] Mitch K: i would not expect to see BPT to
reach the high again of $88.72
again
[08:24 am] Mitch K: getting buy
signal on BPT
[08:26 am] Mitch K: right,
try to get best price right away. if
stock has a spread of 1-2 cents most of the
time that you have seen it trade, then ok for
market but not godo for BPT
[08:26
am] Mitch K: remember what is your job after
you get a buy signal?
[08:27 am] Mitch K:
the problem with that is if you think 50-100
other people are getting same signal at same
time like we see at seminars, they wont
listen and just click buy at market so
getting best prices is difficult
[08:27
am] Mitch K: this seems to have 10-15 cent
spread
[08:30 am] Mitch K: remember you
are just trying to pick off $1 or mroe on
BPT, not big moves. dont wait for me to
give you closing signal, i try to focus on
new ideas
[08:31 am] Mitch K: i will say
that the BPT trade “feels” pretty stable,
does not feel like the bottom is going to
fall out from under us
[08:33 am] Mitch K:
since all the bad news is out on the table
for everyone to see, and you see a rebound
starting after a 38% drop in 8 trading days
on the accelerating drop in price and
accelerating increase in volume, its real
good chance it does well
[08:37 am] Mitch
K: i screwed up and did not send you updated
video last night, sorry about
that. but i tried to explain this
was a real good idea
[08:37 am] Mitch K:
we arent counting todays volume or price as
criteria.
[08:37 am] Mitch K: simple daily
chart here. exponentially increase in down
volume and accelerating down price
[08:38
am] Mitch K: yes same as QIHU top couple
weeks ago, also on DSR
[08:39 am] Mitch K:
now this chart is in a process of breaking
down, i just let them sit for a while, maybe
3-4-5 days
[08:48 am] Mitch K: ok i would
not buy BPT right now, your signal was when i
posted at 8:24am pacific time. no sell
signal yet on 2 min chart but too late to
buy. taking 30 min break
[08:48 am] Ed :
no hurry monitor BIDU see if we test close to
110ish area
[09:23 am] Mitch K: for bottom
to buy
[09:23 am] Mitch K: watching
KORS
[10:15 am] Mitch K: new high on
BPT
[10:47 am] Ed : good eye on
FSLR
[10:48 am] Mitch K: monitoring FNSR,
just watching
[11:19 am] Ed : monitoring
OXM
[11:34 am] Mitch K: well was that the
scalkp of the day or month?
[11:35 am]
Mitch K: BPT i meant
[11:45 am] Ed : nice
call onIRWD joey
[11:49 am] Mitch K:
looking for another bottom in BPT, profit
target over $1.
[12:11 pm] Mitch K: dont
be trying to in a long scalp in BPT in that
last 30 minutes of day, probably going to see
some more selling. maybe another 10
minutes or so and if not moving up then work
your limit order to sell
[12:20 pm] Mitch
K: losing interest in this BPT bounce, taking
too long
[12:25 pm] Mitch K: consider
selling in here on BPT, try selling near ask
price, just under
[12:27 pm] Mitch K:
bernanke speech is 10am eastern
tomorrow
[12:49 pm] Ed : getting pullback
in SPY
[12:50 pm] Mitch K: good job on
IRWD guys
[12:58 pm] Ed : have a great
evening traders
[01:02 pm] Mitch K: later
guys
| [06:12 am] lisas : gm all
[06:17 am]
mikewd2 -: good morning
[06:18 am]
chinhngo : good morning to all
traders
[06:19 am] totora : P was up
in pre market
[06:20 am] khall :
good morning all
[06:20 am] skydiver
: gm all
[06:23 am] lisas : gm
Ed
[06:28 am] mikewd2 -: nice bounce off
75.00 on BPT
[06:29 am] victor51 :
gm all
[06:29 am] mikewd2 -: some pretty
negative stuff out on BPT regarding the fact
that they don’t have the assets equal to the
market cap.
[06:30 am] skydiver : I
will be in virtual mode today while getting
setup and used to the new system
[06:31
am] skydiver : Unless something really
tempting comes my way 🙂
[06:31 am]
mikewd2 -: TZA should be a good one
today
[06:31 am] mikewd2 -: CLF breaking
down again
[06:33 am] lisas : smart
plan sky
[06:33 am] shark :
CRM
[06:34 am] mikewd2 -: BPT
[06:38
am] shark : AAPL weak, vol
heavy
[06:38 am] mikewd2 -: COH
[06:39
am] shark : nice bounce, LULU off
lod
[06:39 am] mikewd2 -: YOKU L
14.28
[06:39 am] mikewd2 -: 17.28
sorry
[06:40 am] mikewd2 -: BPT no sharess
at TS to short
[06:41 am] mikewd2 -: nor
etrade
[06:41 am] mikewd2 -: should be a
good one – haha
[06:45 am] mikewd2 -: SHLD
L 53.65, might be a bit early
[06:45 am]
shark : watching AMZN for poss
top
[06:45 am] mikewd2 -: MCP moving back
up
[06:45 am] mikewd2 -: missed adding on
the bottom
[06:45 am] shark : SPY
new hod
[06:48 am] jolliffboy : FSLR
big drop.
[06:48 am] shark : nice
joliffboy
[06:49 am] mikewd2 -: BPT at
resistance pivot
[06:49 am] shark :
broke thru on my chart, mike
[06:49 am]
shark : probably re-test
[06:50 am]
shark : 81.26
[06:51 am] mikewd2 -:
guess my camarilla pivots are slightly
different
[06:51 am] mikewd2 -:
81.83
[06:51 am] shark : thx, Ed
🙂
[06:51 am] mikewd2 -: Mitch was right
first play on BPT should be strong bounce,
missed it
[06:53 am] rusty : FSLR
radar
[06:53 am] rusty : lost
contract
[06:53 am] khall :
great!
[06:53 am] shark : still
nice, Mitch -BPT
[06:54 am] khall :
yes
[06:54 am] shark : yes
[06:54
am] skydiver : had to jump in on BPT
but way late, but working . . in at
80.62
[06:55 am] mikewd2 -: still nice
sky
[06:55 am] mikewd2 -: i just
watched
[06:55 am] shark : haha,
nice sky
[06:55 am] skydiver :
couild not stand it – virtual later
🙂
[06:55 am] rusty : ZIXI
radar
[06:55 am] rusty : analyst $4
target
[06:56 am] mikewd2 -: MCP nearning
hod
[06:56 am] mikewd2 -: nice
recovery
[06:57 am] rusty : sold 1/2
MCP swing
[06:57 am] shark :
awesome, rusty
[06:57 am] shark : i
read analyst says they don’t have enough cash
for their dividend payouts
[06:58 am]
rusty : NTE bounce
[06:58 am]
mikewd2 -: right, and they can’t buy more
assets
[06:58 am] skydiver : covered
3/4 BPT L 84.11
[06:59 am] shark :
BPT -the trust’s market cap far exceeds the
cash available for distribution
[06:59 am]
totora : where is a good out for long
on BPT
[06:59 am] mikewd2 -: at the top,
totora
[06:59 am] shark :
YEAH!
[06:59 am] rusty : lol
mike
[06:59 am] skydiver : thnx
Mitch on info
[07:00 am] rusty :
tell broker to sell at the high
[07:00 am]
shark : out 1/4 BPT long
[07:00 am]
mikewd2 -: anyone find short shares on
BPT?
[07:00 am] mikewd2 -: none, etrade or
TS
[07:00 am] skydiver : none at
Ligthspeed mike
[07:01 am] totora :
that might b a sign to sell
[07:01 am]
mikewd2 -: right
[07:02 am] shark :
no fib’s, ok Mitch
[07:02 am] khall
: VRA giving a nice bounce – thanks
Mitch
[07:02 am] khall : No, I got
out at 83.65
[07:03 am] shark : out
another 1/4 BPT long
[07:03 am]
shark : have 1/2, Mitch
[07:03 am]
khall : didn’t want to be too greedy –
figured I could get back in
[07:03 am]
scalpman : What in NASDAQ index
symbol?
[07:04 am] scalpman :
is
[07:04 am] shark : quick $1 on
AMZN short, all out
[07:04 am] shark
: closing out last 1/2 BPT -long
[07:04
am] mikewd2 -: $COMPX
[07:04 am]
rusty : COMPQ COMPX many
places
[07:05 am] mikewd2 -: BPT near 50%
recovery from yesterdays drop i
think
[07:06 am] rusty : DJ
Magnitude 6.6 Quake Strikes Off Eastern Coast
Of Greenland -USGS
[07:06 am] rusty
: SHLD lod
[07:07 am] mikewd2 -: CLF at
yesterdays low, and yearly low i
think
[07:08 am] mikewd2 -: rusty, your
about 8 minutes late on lod on SHLD
[07:08
am] mikewd2 -: WLT
[07:08 am] shark
: maybe have to refresh your charts,
rusty
[07:09 am] shark : AAPL new
lod
[07:09 am] rusty : mea culpa was
a bad print
[07:09 am] rusty : or
late print
[07:09 am] shark : wow!
nice one, Mitch -didn’t get the
memo
[07:09 am] shark : …or the
DSR
[07:10 am] lisas : That is
awesome. Biotechs scare me for overnight
drops, guess I could position size
smaller
[07:10 am] shark : watching
GMCR
[07:11 am] shark : definitely
lisa, or consider options
[07:12 am]
jsn13 : Mitch, how can we know and
learn to identify those sustainable longs?
any tips? Cos I don’t feel confortable buying
at such high prices…
[07:12 am]
shark : that’s how stocks like AAPL, go
from $100-$670, jsn13
[07:12 am]
shark : $1 at a time
[07:13 am]
shark : 52 week hi list is good to
check out, they tend to go higher
[07:13
am] lisas : shark, I’ll have to check
into that, seems many bio’s don’t have
options, but would work with ones that
do
[07:14 am] shark : which one
doesn’t have options? too thin a stock,
then
[07:14 am] skydiver : good
information Mitch and thanks shark – good
points
[07:14 am] lisas : will keep
that in mind shark
[07:15 am] jsn13
: ok thanks shark….good tips….
[07:16
am] mikewd2 -: BPT looking like it wants to
go for another ride
[07:16 am]
skydiver : I still have a small piece
left in BPT L –
[07:16 am] mikewd2 -: went
long on the dip
[07:16 am] skydiver
: nice mike
[07:16 am] khall : I did
also mike
[07:16 am] lisas : as did
I mike, but small
[07:17 am]
skydiver : yeah – I only have 100
shares left in BPT L
[07:17 am]
murano : KORS
[07:17 am]
skydiver : thnx murano and I have it on
my screen under my nose – too focused on BPT
I guess 🙂
[07:19 am] mikewd2 -: that
sucked got stopped out, on the 30 cent
spread
[07:20 am] chinhngo : bought
ma at 40.27
[07:20 am] chinhngo :
bought m at 40.27
[07:22 am]
scalpman : COH S @ 57.76
[07:23 am]
mikewd2 -: watching LVS for long
entry
[07:23 am] rusty : s
Z
[07:25 am] shark : GMCR -having to
recall some product, does not expect to
impact financial results
[07:25 am]
mikewd2 -: markets selling off a
bit
[07:26 am] scalpman :
Cover 1% COH S
[07:27 am] mikewd2 -:
vix up 4%
[07:27 am] Ed : nice trading
scalp
[07:27 am] qwert : nice entry
scalp
[07:27 am] mikewd2 -: LVS L 41.84,
looking for bounce off this pivot
[07:27
am] scalpman : Thanks ED
[07:28 am]
chinhngo : buy cover coh thank
scaymen
[07:29 am] shark : KORS
holding strong today, and since 8/14 breakout
-sign of some serious institutional
support
[07:29 am] mikewd2 -: CLF
continues its breakdown
[07:29 am]
shark : tomorrow, Mitch
[07:29 am]
shark : (Friday)
[07:29 am]
khall : drop CLF, drop
[07:29 am]
scalpman : All out COH S
[07:29 am]
qwert : i thought it was
today
[07:30 am] chinhngo :
bought uthr
[07:31 am]
scalpman : Thanks mitch, COH good
call!
[07:31 am] shark : LULU retest
lod
[07:32 am] shark : BPT at R1 res
area
[07:32 am] shark : 2nd
test
[07:34 am] scalpman : no shorts
on BPT….I think that has been
said
[07:35 am] shark : LULU
-reports earnings 9/7
[07:35 am]
shark : last one on the earnings
train
[07:37 am] shark : TFM cont’d
down today 3.5%
[07:39 am] rusty :
NYSE volume 105M shares – 32% below its
three-month average; decliners lead advancers
by 3.8:1
[07:40 am] khall : thanks
rusty
[07:41 am] mikewd2 -: oils have sold
off a bunch today
[07:42 am]
skydiver : BPT is a good friend
🙂
[07:43 am] mikewd2 -: shorts are
probably not liking it
[07:43 am]
rusty : VIX hod
[07:43 am]
khall : well, then shorts should cover
and drive the price up further
[07:43 am]
khall : 🙂
[07:43 am] mikewd2 -:
LVS might have found its bottom for
today
[07:43 am] skydiver : nice
khall 🙂
[07:43 am] shark : 🙂 nice
khall
[07:43 am] skydiver : reminds
me of that old song – up up and
away
[07:44 am] shark : anything for
CRM, sky?
[07:44 am] skydiver :
sorry shark — I have been busy setting up
charts , fine tuning – been lousy partner
today
[07:45 am] shark : be stronger
tomorrow 😉
[07:45 am] skydiver :
🙂
[07:45 am] khall : CRM has been
trading within it’s first 30 min range –
nothing spectacular today
[07:45 am]
skydiver : thnx khall
[07:45 am]
khall : 🙂
[07:46 am] shark :
thx, khall
[07:46 am] skydiver : I
have only done one trade today – BPT – trying
to stay virtual . . . but
[07:47 am]
skydiver : CRM moving up a
bit
[07:47 am] shark : BPT trening
on 10,21 min ma
[07:47 am] shark :
trending
[07:48 am] skydiver : yes
shark – BPT sure is
[07:48 am] mikewd2 -:
russel 2000 down over 1% today
[07:48 am]
scalpman : Small profit on
FLSR…fizzled.
[07:48 am] shark :
89.09, 89.45 high from gap down BPT
[07:49
am] khall : thanks shark
[07:49 am]
khall : looks like CLF may have
bottomed for the day?
[07:50 am]
shark : SPY new lod
[07:51 am]
mikewd2 -: VRTX lod
[07:51 am] mikewd2 -:
out some TZA 16.85
[07:54 am] shark
: nice Mike
[07:58 am] chinhngo :
bought agu 96.54
[08:00 am]
khall : nice chinhgo
[08:03 am]
chinhngo : thank khall
[08:03 am]
khall : yes
[08:03 am] qwert :
yes
[08:03 am] skydiver :
yes
[08:04 am] khall :
85.83
[08:04 am] mitchelld : yes,
looking good
[08:04 am] skydiver :
80.91
[08:04 am] skydiver : on BPT
L
[08:04 am] mikewd2 -: nice work
guys
[08:04 am] khall : sky, was
that your holding of 100 shares?
[08:05
am] skydiver : I had 400 shares to
start then sold off 300 at 83.71
[08:05
am] skydiver : still have 100
left
[08:05 am] skydiver : in BPT
L
[08:05 am] khall : 🙂
nice
[08:05 am] shark : 🙂 great
job, guys
[08:05 am] skydiver : yes
Mitch – very nice scalp
[08:05 am]
khall : I got out and then hopped back
in
[08:05 am] shark : watching
NFLX
[08:07 am] shark : yeah,
Mitch
[08:07 am] skydiver : gotcha
Mitch – interesting
[08:07 am] khall
: mike, are you in CLF long?
[08:08 am]
victor51 : Mitch, I am Long
[08:09
am] victor51 : Recent entry
85
[08:11 am] shark : weak Hong Kong
retail sales (released at 4:30am, saw +3.8%
growth which was below the expected
8%
[08:12 am] skydiver : Well, my
time us up — thnx Mitch, Ed, and all the
great traders . . . great day!!
See you all tomorrow morning 🙂
[08:12 am]
khall : later sky – have a good
one
[08:12 am] Ed : c ya sky
[08:12 am]
skydiver : 🙂
[08:12 am] shark
: 🙂 thx sky, dont tweeking the new
toy?
[08:12 am] shark :
done..
[08:13 am] shark : watching
BPT at 50min ma
[08:14 am] shark :
LULU new lod
[08:20 am] khall :
thanks Mitch
[08:21 am] shark :
watching for pullback, Mitch
[08:25 am]
shark : thx, Mitch
[08:26 am]
shark : ?
[08:26 am] qwert :
best prices
[08:28 am] shark : .22
b/w bid and ask
[08:31 am] shark :
ok
[08:33 am] shark : Steve Job’s
1st computer sold for 666.66
[08:33 am]
scalpman : FSLR double top…now new
low
[08:33 am] shark : seems like
AAPL likes to trade around 666, too
[08:37
am] jsn13 : pretty much the same with
QIHU swing top….
[08:38 am] khall
: well, we got it this morning so… all is
well 🙂
[08:40 am] rusty : NTE
radar
[08:41 am] joeytsa : ES trying
to test 1400
[08:42 am] shark :
quick $1 on BPT, thx Mitch
[08:42 am]
rusty : TSO radar
[08:45 am]
jolliffboy : scalpman: any idea where
bottom is for FSLR? A SWAG would be
sufficient. lol
[08:46 am] shark :
doa jliffboy
[08:46 am] scalpman :
jolli the daily has support at
19.60
[08:47 am] scalpman : As mitch
said, this is in a downtrend…
[08:47 am]
jolliffboy : Thanks scalpman.
[08:48
am] joeytsa : good spot scalp
[08:48
am] joeytsa : i have the 50ma at
19.37
[08:51 am] scalpman : FSLR
could bounce here…20-30c
[08:56 am]
scalpman : FSLR 15c bounce and headling
down
[08:58 am] jolliffboy : I’m
going to wait until 19.60 daily support area
to buy back in.
[09:00 am] scalpman
: FSLR…if watching at the open, it move
below OPEN and never got above it. Nice time
to go short..
[09:01 am] scalpman :
Yes…we should have the chart open at the
open tomorrow and see how it
behaves…
[09:01 am] rusty : TNGO
lod
[09:01 am] rusty :
TheStreetSweeper covered 43,171 shares of
TNGO on Aug. 28 at an average price of $17.26
a share. It covered an additional 44,100
shares on Aug. 29 at an average price of
$17.03 as well. Following those transactions,
TheStreetSweeper has a total of 36,502 shares
of TNGO sold short at the present
time.
[09:02 am] scalpman : Time to
go today…see you all tomorrow.
[09:02
am] joeytsa : bye scalp
[09:02 am]
Ed : c ya scalp
[09:02 am] scalpman
: Scalpman has left the building!
[09:02
am] khall : bye scalp
[09:05 am]
totora : will BIDU break 100
???
[09:06 am] totora : I had 1k
shares of Bidu at 100… B$ the split and
sold it for 101
[09:06 am] totora :
B4
[09:06 am] Ed : great question
totora
[09:07 am] joeytsa : BIDU
split 10:1 right?
[09:08 am] totora
: ya
[09:09 am] totora : lol Dumb
and Dumber
[09:09 am] totora :
Dummer
[09:09 am] joeytsa :
unfortunately in trading you cant see whats
further to the rigth on a chart 🙂
[09:09
am] totora : it ids with a b
[09:10
am] mikewd2 -: MCP
[09:16 am] rusty
: FSLR nlod
[09:16 am] rusty : might
be time to cover some FSLR swing ss
[09:23
am] rusty : COURT SAYS EVIDENCE
SUGGESTS THAT THE ID LAW WOULD CURTAIL
ABILITY OF MINORITIES and dead people TO
VOTE
[09:24 am] rusty : didnt know
dead people were so political
[09:24 am]
joeytsa : gotta love it
[09:24 am]
jolliffboy : Now that is funny.
Too bad it’s true.
[09:24 am] rusty
: Dead People> We got rights
too
[09:25 am] joeytsa : it would be
funny if it wasnt so sadly true
[09:31 am]
totora : ya 110 was BIDU’s
resistance
[09:37 am] rusty : NTE
come to papa
[09:40 am] murano :
DTG
[09:42 am] Ed : quick spike on
DTG
[09:45 am] murano : HTZ is
buying DTG for $87.50/share
[09:45 am]
joeytsa : thx murano
[09:50 am] Ed :
thx murano
[09:51 am] qwert : So i
wonder why its trading below 87.50?
[09:52
am] rusty : risky bet
[09:52 am]
murano : HTZ has been trying to buy DTG
for the last two years
[09:52 am]
rusty : what if dont close
[09:52
am] rusty : or some problem
[09:53
am] murano : Rusty is correct, this
deal may not close
[09:53 am] qwert
: so close to the number though
[09:53 am]
khall : there are a lot of skeletons in
the DTG closet… so it may not
close
[10:00 am] lisas : taking off,
have a great day all
[10:00 am]
khall : bye lisa
[10:03 am] Ed : c
ya lisa
[10:06 am] totora : u all
have a great weekend today was my first + day
in many moons….
[10:06 am] mikewd2 -:
dang missed TSO
[10:06 am] mikewd2 -:
again today
[10:11 am] khall : good
for you totora!
[10:11 am] joeytsa :
ES still trying to get back over
1400
[10:13 am] rusty : TLT
hod
[10:15 am] rusty : covered 1/2
FSLR swing s
[10:20 am] rusty :
‘Jersey Shore’ will end after this
season
[10:20 am] rusty :
whew
[10:20 am] rusty : faith in
humanity restored
[10:20 am] murano
: MCP
[10:20 am] joeytsa : snooki
should never have gotten pregnant
[10:22
am] doji : MCP
[10:22 am] doji
: and FSLR
[10:23 am] mikewd2 -: glad i’m
out of MCP – would love to see 9’s
again
[10:25 am] mikewd2 -: doji: what’s
your take on SLB
[10:26 am] rusty :
covered 2/3 FLSR +4
[10:26 am] rusty
: trailing last 1/3
[10:27 am] doji
: If it holds 70 I could try taking it long
bo support a swing longut we need to see more
volume t
[10:28 am] doji :
bo=to
[10:28 am] doji : I’ll wait
until after labor day
[10:29 am]
joeytsa : good are doji
[10:29 am]
joeytsa : area
[10:29 am] mikewd2 -:
ty doji
[10:29 am] joeytsa : 50/200
ma touching
[10:30 am] mikewd2 -: WFT
getting interesting for me
[10:31 am]
mikewd2 -: pretty decent support
area
[10:33 am] khall : i’m out for
the day guys – have a great rest of the
afternoon and I’ll see you tomorrow
[10:33
am] joeytsa : bye khall
[10:33 am]
rusty : buy buy kh
[10:34 am]
rusty : BPT
[10:35 am] doji :
wow, that was a monster recovery
today
[10:36 am] doji : look at the
daily chart
[10:41 am] rusty : NTE
come to papa
[10:42 am] doji :
FSLR
[10:44 am] doji : out 1/4
here
[10:45 am] rusty : long or
short
[10:45 am] doji :
long
[10:46 am] doji : my day just
started…. been busy ar work
[10:46 am]
rusty : im trailing my last 1/3
s
[10:46 am] rusty : on
FSLR
[10:48 am] doji : I don’t
expect too much in my long
[10:48 am]
doji : just trailing it
[10:54 am]
mikewd2 -: little bounce on WFT
[11:03 am]
doji : out second 1/4 FSLR
long
[11:07 am] rusty : AH
radar
[11:09 am] qwert : thx
rusty
[11:11 am] doji : Watching
SBUX
[11:14 am] rusty : TNGO small
bounce
[11:16 am] doji : Out another
1/4 FSLR
[11:19 am] doji : Very thin
volume OXM
[11:21 am] joeytsa :
IRWD
[11:21 am] joeytsa : something
going on there
[11:22 am] mikewd2 -: out
half WFT 11.74 from 11.63, 1%
[11:23 am]
Ed : yea doji, just waitng and monitoring for
vol to show up on the move
[11:23 am]
doji : IRWD annouced FDA approval of
LINZESSTM
[11:23 am] joeytsa :
interesting since it fell haha
[11:28 am]
doji : Watching MNST
[11:29 am]
mikewd2 -: why doji?
[11:29 am]
victor51 : Bye everyone. Thanks Mitch,
Ed and all traders. Will be out next day or
two. Keep making $$$
[11:30 am]
shark : bye victor 😉
[11:30 am]
joeytsa : enjoy the long weekend
victor
[11:30 am] Ed : have great weekend
victor
[11:30 am] qwert : cya
victor
[11:35 am] mikewd2 -: all out WFT
11.79 1.5% on last half
[11:35 am] Ed :
both
[11:35 am] mikewd2 -: yeah, and i
only got in for 1.75 pts of it
[11:36 am]
mikewd2 -: anyone ever find short shares on
BPT?
[11:41 am] joeytsa : none at
lightspeed mike
[11:41 am] joeytsa :
they had them early yesterday
though
[11:43 am] mikewd2 -: did you get
any of that BPT long today joey?
[11:44
am] joeytsa : no, i didnt turn on
computer until late
[11:44 am]
joeytsa : tighten IRWD if
short
[11:45 am] joeytsa : thanks,
had to make one haha
[11:45 am]
joeytsa : P just had a spike
down
[11:45 am] joeytsa : on higher
vol
[11:47 am] shark : nice
joey
[11:47 am] Ed : since its joey, have
to show him what he missed on BPT
[11:47
am] joeytsa : yeah i saw
[11:48 am]
mikewd2 -: did you short the top
Ed?
[11:48 am] mikewd2 -: he was busy
horse racing
[11:48 am] Ed : the room told
me to show it to joey again
[11:48 am]
joeytsa : could have made more today
than most teachers make in a year
[11:48
am] shark : 🙂
[11:48 am]
joeytsa : no horses today mike, maybe
del mar this afternoon 🙂
[11:48 am] Ed :
no, mike I did not short it
[11:49 am]
mikewd2 -: well i just watched it, until 83
area
[11:49 am] Ed : u like to torture
urself. 🙂
[11:49 am] mikewd2 -: it was
tough, but when you think you missed the
boat
[11:50 am] mikewd2 -: was waiting for
a fall back,
[11:50 am] mikewd2 -: just
didn’t know it would be 9 points later,
haha
[11:50 am] Ed : lol
[11:50 am]
joeytsa : haha
[11:51 am]
qwert : happens all the time
[11:51
am] joeytsa : another 1400
test
[11:52 am] joeytsa : bit of a
cup pattern on the ES 1min
[11:52 am]
joeytsa : S2 at 1400.50
[11:53 am]
jsn13 : qwert, did u get BPT?
[11:53
am] jsn13 : i mean the a.m.
trade…
[11:54 am] qwert : not
until later i had issues again with
theinternet this am
[11:55 am] jsn13
: ok i see…thanks….i did not take it
either…
[11:55 am] jsn13 : khall,
r u here?
[11:57 am] jsn13 : ed, do
u use level 2 data to tarde?
[11:57 am] Ed
: no, i use time & sales
[11:58
am] qwert : Ed do you not even have it
on your screen
[11:58 am] Ed : No, sure
dont. I have it but dont use
[11:59 am]
jsn13 : ok thanks….but is level 2
data free for u?
[12:00 pm] qwert :
do you have anything that shows you the
differnt orders at other prices
[12:00 pm]
Ed : some platforms include, some u have to
pay
[12:00 pm] jsn13 : mike, do u
have level 2 data for free on
tradestation?
[12:00 pm] doji : TOS
shows you Level II and TandS
[12:00 pm]
doji : for no extra charge
[12:01
pm] doji : AAPL waking up
[12:01 pm]
Ed : matrix does in tradestation
[12:02
pm] shark : yeah, higher lows,
doji
[12:02 pm] Ed : matrix shows orders
and different levels, but I dont use
matrix.
[12:02 pm] jsn13 : Anyone
using Ninjatrader with Kinetick? or
interactive brokers? U have to pay to get
level 2 data for Kinetick…Did not see any
level 2 data on IB platform…
[12:03 pm]
shark : level 2 free with etrade pro
account jsn13
[12:03 pm] joeytsa :
L2 and L3 free at lightspeed
[12:03 pm]
mikewd2 -: yeah i have level 2 on etrade
pro
[12:04 pm] mikewd2 -: i though you had
to pay on TS
[12:04 pm] joeytsa : i
think so mike
[12:04 pm] Ed : right u have
to pay with tradestation for it, but not
with etrade pro or MBT tradin
[12:05
pm] qwert : lightspeed is free
also
[12:05 pm] doji : TS will
charge you for using the platform and for
data transmission also
[12:05 pm]
doji : one charge for equties and
options
[12:05 pm] doji : another
charge for futures
[12:05 pm] doji :
unless you keep a minimu of $25K in your
account
[12:06 pm] qwert : i thought
everybody used it
[12:07 pm] Ed : time and
sales gives me every detail, once one learns
to use can be very valuable
[12:07 pm]
joeytsa : Ed: do you use MB
Trading?
[12:08 pm] Ed : just open acct
with them just to have another acct for
futures
[12:08 pm] joeytsa : they
were the 1st account i ever had
[12:08 pm]
qwert : i use it to see if there are
big orders
[12:09 pm] joeytsa : i
use L3 to see if any big orders are on the
book, T/S to see if it actually goes
thru
[12:09 pm] joeytsa : read that
they are phasing out L2
[12:09 pm]
jsn13 : the rate for level 2 data is
around 10-20 bucks per month.
[12:09 pm]
Ed : it is old school L2
[12:09 pm]
joeytsa : 70K just went thru on
IRWD
[12:10 pm] joeytsa : yeah, i
just have it up on lightspeed
[12:10 pm]
doji : MB Trading?
[12:10 pm]
qwert : i have both up on
lightspeed
[12:10 pm] joeytsa : MB
Trading was great when i first used them,
assume that if Ed is using them they are
still good
[12:11 pm] jsn13 : Ed, so
when u check for s/r levels, what makes u
accurate? is daily charts enough? I seems to
be getting alot of ineffective
levels…
[12:12 pm] Ed : i just wanted
2nd acct for futures, my other is with amp
clearing been with them for while really good
firm
[12:13 pm] joeytsa : MB had
Realtick back in 2000
[12:13 pm]
jsn13 : i checked with qwert yesterday
and I have different 200sma on Ninjatrader,
freestockchart, stockcharts.com….
[12:14
pm] doji : Yes Jason, all of them are
different
[12:14 pm] joeytsa : that
will happen
[12:14 pm] Ed : jsn its all
about not jumping the gun just bcuz u may see
support at certain price, u still need to see
bottom and signal for long b4 entry
[12:14
pm] joeytsa : right Ed, all new
lows just had a failed support level
🙂
[12:15 pm] Ed : great point
joey
[12:15 pm] jsn13 : i got the
signals and did not work out, i figured it’s
bcos i chose the wrong levels…
[12:15
pm] joeytsa : hard to catch tops and
bottoms consistently
[12:16 pm] Ed : also,
if stock is in majro downtrend on daily, its
saying ur fighting the overall
trend
[12:16 pm] jsn13 : i wont
trade without signals….but not sure how to
identify the high probability s/r
levels…
[12:16 pm] jsn13 : this
might be the prob….good point….
[12:17
pm] joeytsa : the more time price
touchs s/r, the stronger it is
[12:17 pm]
mikewd2 -: not recovery on IRWD
[12:17 pm]
mikewd2 -: nice – not
[12:17 pm] Ed : also
speed at which it is testing that area is
key, rapidly, moderate or slowly
[12:18
pm] joeytsa : yeah mike, made a nice
test/hold around the $11.70 line
[12:19
pm] jsn13 : and also how far it has
moved….ok i got it ed…
[12:20 pm]
mikewd2 -: had a buy at 11.85 when 5ma
crossed 50ma, but then figured i waited to
late
[12:20 pm] joeytsa : i dont
have the 50ma up
[12:21 pm] qwert :
there it goes
[12:21 pm] qwert :
BPT
[12:22 pm] qwert : you just had
to talk to it mitch
[12:22 pm] mikewd2 -:
mention it again Mitch
[12:23 pm]
joeytsa : mike: almost $1 move on
IRWD
[12:23 pm] mikewd2 -: out 89.50, got
another $0.75
[12:23 pm] mikewd2 -: nice
joey
[12:24 pm] joeytsa : i didnt
get the full move though
[12:24 pm]
mikewd2 -: reducing some TZA
[12:24 pm]
qwert : Bye everybody cya in the
am great calls today
[12:24
pm] joeytsa : bye qwert
[12:25 pm]
rusty : PPHM radar
[12:25 pm] Ed : c
ya qwert
[12:25 pm] doji : What is
Bernake’s speech tomorrow?
[12:25 pm]
doji : time
[12:27 pm] doji :
Thanks Mitch
[12:29 pm] mikewd2 -:
starting to turn over on IRWD joey
[12:33
pm] joeytsa : bernanke speaks on
jackson hole
[12:33 pm] mikewd2 -: hope he
falls in
[12:33 pm] joeytsa : at
jackson hole
[12:33 pm] mikewd2 -:
oh
[12:34 pm] joeytsa : not sure he
will fall, but if romney wins he will be
pushed 🙂
[12:34 pm] mikewd2 -: not if
“when”!
[12:35 pm] mikewd2 -: all out
TZA
[12:40 pm] doji : FSLR
[12:44
pm] doji : SBUX has been very string
today. Let’s see if it breaks 50
tomorrow
[12:47 pm] jolliffboy :
Mitch K: What do you think of FSLR at this
point. More downside or primed to
buy????
[12:48 pm] rusty : covered
lasat 1/3 FSLR +4.5
[12:48 pm] rusty
: its free to go to zero now
[12:49 pm]
jolliffboy : Nice job rusty. Wish I had
been so lucky.
[12:49 pm] Ed : nice trade
rusty
[12:49 pm] rusty : got
lucky….tricky stock….squeezed me before
it cooperated
[12:54 pm] mikewd2 -:
NFLX
[12:56 pm] doji : See ya
tomorrow fellas
[12:56 pm] mikewd2 -: by
doji
[12:57 pm] Ed : c ya doji
[12:57
pm] joeytsa : bye doji
[01:00 pm]
rusty : cya doji, gn all
[01:01 pm]
joeytsa : Thanks Mitch, Ed, traders,
see you all in the morning
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