| (06:12 am) Ed :good morning traders
(06:14 am) Mitch :September 13, 2013 Pre
Market Up: AEPI, RMTI, GSVC, NG, ULTA,
GOLD, LULU, Pre Market Down: AAPL, SSYS,
NXPI, TSLA, PRAN, MKTO, INN, YHOO
(06:24 am) Ed :fyi: Japan ran a newspaper
article that Summers will be person to take
over oct.1 for Bernanke. While we dont know
if this is the case. But some things about
Summers is that he is very hawkish meaning
tighter stance on monetary policy, which is
opposite of Bernanke. So this will be
something to watch as tighter monetary policy
typically is not good for gold. Markets will
let us know of course
(06:30 am) Ed :115 area to watch on ULTA on
upside
(06:31 am) Mitch :bcr
(06:31 am) Mitch King:watching AET
(06:31 am) JoeyTSA :eye on INCY,BBBY
(06:31 am) Mitch :watching UNFI
(06:32 am) Mitch King:WATCHING regn
(06:32 am) Ed :press conference by Kerry and
Russia coming shortly
(06:32 am) Mitch King:WATCHING sndk
(06:32 am) Mitch :watching UA
(06:32 am) Mitch King:other health care
stocks besides AET: UNH, WLP, CI, HUM
(06:33 am) Mitch King:watching VRTX for
bottom
(06:33 am) JoeyTSA :SSYS getting action
(06:33 am) Mitch King:watching SCTY for
bottom to buy
(06:33 am) Mitch :watching TEL
(06:34 am) Mitch King:watching YHOO
(06:34 am) Mitch King:monitoring SGMO for
bottom, low priced, take time
(06:35 am) Mitch King:watching MDVN for
bottom
(06:35 am) Mitch King:watching CLF
(06:36 am) JoeyTSA :/CL trying to hold S2
(06:36 am) Mitch King:watching TROX for top
(06:36 am) Mitch King:watching SWY for top
(06:36 am) JoeyTSA :eye on NQ
(06:36 am) Qwert :monitoring NQ
(06:36 am) Mitch King:DNKN spiking
(06:36 am) JoeyTSA :will keep QIHU on radar
again today
(06:37 am) Mitch King:watching SPN for
bottom, take time
(06:37 am) Mitch King:watching P for top
(06:38 am) Mitch King:watching IRBT for
bottom
(06:38 am) Mitch King:monitoring BBBY, Bed
Bath Beyond
(06:39 am) Mitch King:important buy signal on
CL 10, should last 30-45 minutes
(06:39 am) JoeyTSA :BIDU might set up for
breakout?
(06:40 am) JoeyTSA :tighten BBBY if long
(06:40 am) Mitch King:monitoring ZMH
(06:42 am) Mitch King:monitoring EDU
(06:42 am) Mitch King:monitoring FTNT, not
great idea yet
(06:44 am) Mitch King:watching INCY but looks
dead so far
(06:44 am) Mitch King:starting to watch NBIX
drop
(06:45 am) Mitch King:watching ERJ, Embraer,
Brazilian jet maker. dont rush,
(06:46 am) Mitch King:Reminder: when i use
monitoring, it isnt developed idea yet,
“watching” means probably going to turn into
a tradable idea
(06:46 am) Mitch King:monitoring HCA
(06:47 am) Mitch King:watching AKAM for top
(06:48 am) JoeyTSA :UofM # in about 5 min,
then Bus Inv a few minuates after that
(06:48 am) Ed’s assistant :Monitoring LULU
(06:48 am) Mitch King:short term top in CL 10
but looking to buy long again on next bottom
(06:48 am) Mitch King:watching UGAZ for top
(06:49 am) Mitch King:monitoring WEN,
Wendy’s, very low priced stock, dont rush
(06:49 am) Mitch King:watching ULTA move up
(06:50 am) JoeyTSA :tighten QIHU if short
(06:51 am) Ed :if u took ULTA long over 115
would reduce some
(06:51 am) Mitch King:watching VRTX for
bottom
(06:52 am) Mitch King:watching ARIA for
bottom,
(06:53 am) JoeyTSA :watching SOHU for bottom
(06:55 am) Ed :*(US) SEPT PRELIMINARY
UNIVERSITY OF MICHIGAN CONFIDENCE: 76.8 V
82.0E (07:00 am) Ed :US) JULY BUSINESS
INVENTORIES: 0.4% V 0.2%E (07:01 am) Mitch
King:on this CL 10, as it pulls back on this
drop, i am looking to get long again but not
in hurry
(07:02 am) JoeyTSA :eye on SINA $85 level
(07:03 am) Mitch King:ok just bot on that
little dip here in CL, watching for higher
moves in next 30 min, be flexible
(07:07 am) Ed :SPY new lod
(07:08 am) Ed :price on SPY touching
yesterdays close
(07:10 am) Mitch King:watchign ARIA again for
2nd bottom
(07:12 am) JoeyTSA :OXY getting vol
(07:12 am) JoeyTSA :eye on YELP for bottom
(07:16 am) Mitch King:watching HWAY on 2 min
Lightning chart for buy signal
(07:16 am) Mitch King:watching NQ for bottom
to buy,
(07:17 am) Mitch King:YOKU bouncing
(07:18 am) JoeyTSA :tighten SSYS if short
(07:21 am) Ed :monitoring Z, needs more vol
and more selling to get me interested in
potential setup for long
(07:22 am) Mitch King:watching VRTX for 2nd
bottom to buy
(07:22 am) JoeyTSA :watching QCOR for bottom
(07:24 am) Mitch King:on that last buy on CL
10 dip, consider getting best price to sell
if long
(07:28 am) Qwert :monitoring YELP
(07:28 am) JoeyTSA :tighten OXY if short
(07:29 am) Mitch King:when i use the term
“best price” that should tell you it isnt a
panic sell on CL, just that you try to get a
better price that currently on a little
bounce. YOu have to get into the mindset
that you can get better prices, that you
usually have plenty of time
(07:30 am) Mitch King:when you look at price
movement, 95% of the time prices move around
in oscillations and also within the next
10-15 candles in CL you can get prices you
want
(07:36 am) Mitch King:this type of trading
action on CL chart is no trading zone, dont
touch mouse or it bites
(07:37 am) Mitch King:looking for short here
in NG 10-13, probably best price already
past
(07:48 am) Ed’s assistant :Monitoring ARO
(08:15 am) Qwert :IPI
(08:30 am) JoeyTSA :/CL testing $108
(09:25 am) Ed :MODERATOR BOX
(10:00 am) Ed :13:00 VPHM Shire and Sanofi
said to be interested in acquiring the
company –
(10:06 am) JoeyTSA :VPHM
(10:06 am) Ed :will trail last 1/4 real tight
on VPHM long
(10:06 am) Ed :reducing 3/4 long on VPHM
(10:08 am) Ed :when I find it will let u
know
(10:08 am) Ed :should be another stock
trading in sympathy with VPHM
(10:09 am) Ed :wiout=out
(10:09 am) Ed :wiout all VPHM long
(10:18 am) Mitch King:GC 12-13, gold futures
buy signal, should be decent, important buy
signal
(10:20 am) Mitch King:i would mentally
prepare that 1-2 hours on a gold futures move
is possible to take that long
(11:00 am) Ed :- NYSE volume 287M shares,
about 16% below its three-month average;
advancers lead decliners by 1.4:1. – NASDAQ
volume 940M shares, about 5% below its
three-month average; advancers lead decliners
by 1.5:1. – VIX index -0.5% at just over
14.00
(11:02 am) Qwert :yoku moving a bit
(11:24 am) Mitch King:short term traders
could close gold futures if long but likely
to move up more. It just gets real dead
Friday afternoons. normally if earlier i
would hold.
(12:17 pm) Mitch King:funny thing is it isnt
have any indication or hint that it is
oversold yet
(12:18 pm) Mitch King:GC just getting very
early stages of possible over sold condition
but early
(12:57 pm) Ed :have great weekend traders
(01:06 pm) Mitch King:later guys
(10:18 am) Mitch King:GC 12-13, gold futures
buy signal, should be decent, important buy
signal
| (05:02 am) herman :gm all
(05:18 am) chinhngo :gm all
(05:20 am) chinhngo :d have very good news
worth to look
(05:37 am) chinhngo :who know retail report
?
(05:53 am) JoeyTSA :Good morning Qwert,
everone
(05:54 am) JoeyTSA :UofM #’s @ 6;55pdt, Bus
inv @ 7pdt
(05:54 am) JoeyTSA :chin, retail sales
slightly down
(05:55 am) Qwert :good morning Joey, and to
everyone 🙂
(05:56 am) Qwert :Will watch FB and SINA with
twitter ipo news
(05:58 am) JoeyTSA :gap up : ULTA,SINA,GSVC
(05:59 am) JoeyTSA :gap down:
SSYS,TSLA,AAPL,SFUN?
(05:59 am) chinhngo :retail down mean market
will go down
(05:59 am) taco :thx joey, gm early birds
(06:00 am) JoeyTSA :no clue shin
(06:00 am) JoeyTSA :chin
(06:07 am) chinhngo :retail go up only .2
expectation is .4 so medium wage will bring
market down
(06:07 am) chinhngo :so boght uvxy
(06:09 am) chinhngo :this is not logic ?
(06:09 am) Ed :chin just recommendation, its
best to stay away from making an opionion
based on what you think will happen in
markets then placing trade based on that
fact. If and when proven wrong makes it more
difficult to be flexible and make change
based on market feedback
(06:10 am) Ed :Great case in point, few years
back, it was such that when oil went up,
airlines stocks went down, however, lately we
have seen oil prices go up and airline stocks
go up
(06:11 am) Ed :same for retail stocks, while
oil prices moved up, retail did as well. What
Im saying is that its best to be flexible in
your approach and stay away from “opinions”
and “fact” as it has not proven to be
consisten over time
(06:12 am) taco :thx ed
(06:13 am) JoeyTSA :good point Ed
(06:13 am) Ed :The best approach, is to see
how the markets digest, and reacts to these
numbers then setup game plan based on this
factor
(06:15 am) JoeyTSA :thx Mitch
(06:15 am) taco :thx Mitch
(06:17 am) skydiver :Thanks Mitch and great
lesson Ed 🙂
(06:20 am) Qwert :thx mitch and ed
(06:20 am) Ed :last point want to make, dont
try to find logic in markets, as they are and
can be irrational and ilogical, seek logic,
consistency from your trading plan and
approach to the markets. Trading plan
template can be found in documents section in
trade room at lower right hand corner
(06:24 am) chinhngo :i think thios is chat
room to share you thinking with anyone to
help each others
(06:24 am) Ed :yes chin, that is the goal
(06:25 am) chinhngo :that why i post my
thinking
(06:25 am) JoeyTSA :thx Ed, watching $1350 as
big level
(06:26 am) Ed :I think Jesse Livermore said
it best, ” I have many opinions and thoughts
about market but never place money behind
those opinions”
(06:26 am) JoeyTSA :smart man
(06:27 am) JoeyTSA :never read the livermore
book
(06:27 am) Ed :Yea wish I had stayed up late
other night when /GC broke that level i
posted
(06:28 am) JoeyTSA :watching 1680 on /ES
(06:30 am) elisha :gm all
(06:36 am) skydiver :monitoring TSLA
(06:40 am) JoeyTSA :caution on any breakout
with opx today, never know where stock might
pin to
(06:40 am) skydiver :thnx joey
(06:40 am) chinhngo :short p at 24.15
(06:42 am) regatta :watching ANR
(06:44 am) chinhngo :cover p make 300.00
thank mitch
(06:44 am) skydiver :thnks Mitch on INCY –
was watching it closely
(06:47 am) Qwert :ULTA at 115
(06:47 am) skydiver :RAX – take over chatter
again
(06:48 am) chinhngo :ulta very good earning
today
(06:48 am) electrader :Good call on
(06:48 am) electrader :CL Mitch. Got 20
ticks out of move
(06:49 am) skydiver :thnx for reminder on
reports joey
(06:50 am) chinhngo :short 1000 akam at
51.07
(06:55 am) Ed :low number
(06:55 am) JoeyTSA :pretty big miss
(06:55 am) Ed :yep
(06:56 am) Mitch King:good job electrader but
that is not enough profit target for that
“important” signal
(06:57 am) taco :Mitch the signal i got
wasn’t enhanced, no color behind it at all
(06:58 am) electrader :I didnt get a buy
signal on Lightning
(06:58 am) taco :i have 242 lightning
setting
(06:58 am) Mitch King:i shouldnt even have
posted that short term top comment at 648am.
Many of these will give you 50-100 ticks. i
will teach you in about 6 weeks, not ready
yet
(06:58 am) electrader :I’m using 362
(06:59 am) JoeyTSA :on 242 i got a buy signal
at 6:36, right about at S2 level
(06:59 am) JoeyTSA :no color, just a green up
arrow
(07:00 am) chinhngo :sold all nugt bought
yesterday with good profit
(07:00 am) taco :same as mine joey, actually
see yellow behind it now
(07:00 am) JoeyTSA :i got yellowish sel
signal @ 6:52
(07:00 am) taco :but appreciate you calling
it Mitch as well
(07:00 am) electrader :Change to 242 and got
#2 buy signal.
(07:01 am) electrader :Thx Joey
(07:01 am) JoeyTSA :funny taco, i didnt have
the color
(07:01 am) skydiver :taco – are you running
on a mac or a pc?
(07:01 am) taco :pc sky
(07:01 am) skydiver :ok
(07:02 am) JoeyTSA :SSYS slowly trying to
close gap, might be getting tired here
(07:04 am) JoeyTSA :SINA closed gap up
(07:07 am) chinhngo :bought cover akam make
340.0 thank mitch
(07:08 am) Ed :nice trade chin
(07:09 am) Ed :hey chin u dont have to let
everyone know wht ur making. they may want
you to share
(07:09 am) chinhngo :sold uvxy bought at
premarket make 540.00 big day for me
(07:10 am) chinhngo :why mr ed to celebrate
together
(07:10 am) chinhngo :i am really happy with
if you post what you make
(07:10 am) taco :haha
(07:11 am) JoeyTSA :not enough room to type
all the 0’s after the 5 for Ed 🙂
(07:11 am) Ed :we can celebrate without
knowing how much, there maybe others in room
who are new, and they may use what u make as
benchmark, and thats not good as each trade
is different
(07:11 am) chinhngo :this mean this chat
room is worth to make money
(07:12 am) skydiver :I’m just smiling 🙂
(07:12 am) chinhngo :oh you are so hard mr
ed
(07:12 am) Mitch King:hey chingo, its the
ideas that you should be learning, not worry
about how much someone else makes
(07:12 am) chinhngo :let the thing are easy
(07:13 am) chinhngo :ok i will not what i
make are you happy ?
(07:13 am) regatta :watching NQ
(07:14 am) taco :born cranky, chose
happiness:)
(07:14 am) JoeyTSA ::)
(07:15 am) Ed :Not happy or sad.
(07:15 am) Ed :Im neutral
(07:15 am) JoeyTSA :so much for that BIDU
breakout watch haha, its at lod now
(07:17 am) JoeyTSA :SFUN testing lod area
(07:19 am) JoeyTSA :tighten= either tighten
your stop or lighten shares
(07:20 am) skydiver :I didn’t post KORS
earlier for a short as it didn’t look like
much money, but been a slow mover down — all
ouit of KORS short — I must be turning a new
leaf 🙂
(07:22 am) JoeyTSA :nice sky
(07:22 am) skydiver :thnx
(07:23 am) Qwert :way to go sky
(07:23 am) skydiver :QCOR moving down on
speculation of investor short position
(07:23 am) JoeyTSA :ahhh, thx sky
(07:23 am) skydiver ::)
(07:27 am) Qwert :missed the NQ long nice
call mitch
(07:28 am) JoeyTSA :SSYS giving nice trades
so far
(07:29 am) JoeyTSA :break time, good trading
so far
(07:29 am) taco :thx Mitch
(07:29 am) taco :enjoy dr j
(07:30 am) Qwert :dr j can joey dunk?
(07:30 am) skydiver :take care joey —
(07:30 am) taco :lol
(07:30 am) taco :with his chicken legs??
(07:32 am) Mitch King:taking 30 min break, i
have to go get plain cake donuts
(07:33 am) skydiver :donut time 🙂
(07:33 am) taco :celebration?
(07:34 am) skydiver :looking forward to the
time we’ll be able to email actual food
across the internet – 🙂
(07:34 am) skydiver :or beam items to one
another 🙂
(07:35 am) Qwert :ULTA new hod nice call ED
(07:35 am) skydiver :nice lilttle bouince on
YELP qwert
(07:36 am) Qwert ::))
(07:42 am) Ed :nice one on Yelp qwert
(07:43 am) Qwert :thx Ed
(07:45 am) elisha :beam me a new brain sky
(07:47 am) skydiver :hey elish — yours is
wonderful I’m sure . . 🙂
(07:47 am) elisha :what a diplomat ”)
(07:48 am) skydiver :trading is not easy
business . . . but I try to learn from my
mistakes and down days — better ones coming
🙂
(07:49 am) elisha :i know you are right
about better one coming”)
(07:50 am) skydiver :I know . . hard to see
if in a valley, but there are still hills out
there. Takes lots of study, practice, and a
great group like TSA to encourage and train
(07:51 am) elisha :no argument there – this
room is full of lots of good people and
knoweldge
(07:52 am) skydiver :sometimes I have back
away, take a break, breathe, come back with a
fresh perspective, shake things off, and move
forward. Lately I’ve started in the
negative and then worked my way out of the
hole into positive .. I prefere starting
positive 🙂
(07:54 am) Qwert :Thx for ARO Disona
(07:54 am) elisha :agree – positive is good
– ….think on what is lovely…..etc,etc,
(07:54 am) elisha :aro
(07:55 am) elisha :sorry – wrong window
(07:57 am) Ed :great weekend project. Its
great idea to categorise ur trades. Ex. whay
type was it, breakout/breakdown, reversal,
news rumor. Then you want to be able to
determin for type of strategies you take,
what is win/loss % on those trades. This way
you can spend more time trading stocks tht
you have higer win/rate%
(07:58 am) Ed :the comment from sky made me
think of this
(07:58 am) skydiver :good idea Ed . . . will
do this assignment 🙂
(07:58 am) taco :good idea ed
(07:59 am) skydiver :I knew I liked Ed 🙂
(07:59 am) JoeyTSA :great ideas
(07:59 am) Qwert :excellent idea to know
strengthes and weaknesses
(07:59 am) JoeyTSA :then you can specialize
on your best ones
(07:59 am) Ed :lol. thx sky
(07:59 am) skydiver ::)
(07:59 am) Ed :exactly joey
(07:59 am) elisha :thanks Ed – you always
have such good suggestions
(07:59 am) Qwert :yep and work on weaknesses
(08:00 am) JoeyTSA :either work on them or
totally avoid them
(08:00 am) elisha :that sounds funny Qwert –
you mean get rid of them ”)
(08:00 am) Ed :agreed joey
(08:00 am) Qwert :yeah i just practiced them
i sim
(08:01 am) JoeyTSA :nice move on /CL
(08:09 am) Ed :markets seems little strange
today
(08:09 am) JoeyTSA :glad you think so,
thought i was only one
(08:10 am) JoeyTSA :will probably make me
take the “lunch hour” off
(08:10 am) JoeyTSA :gotta work on my chicken
legs as taco says haha
(08:10 am) Ed :now my esignal data not
showing all data
(08:11 am) Ed :guess so slow, feed says why
bother
(08:11 am) Qwert :my esignal was lagging this
am
(08:11 am) JoeyTSA :wierd, my ninja charts
wouldnt load up premarket
(08:12 am) skydiver :Okay , I have to head
up to Seattle to watch my middle schooler
grandson play football — thanks for great
calls and teaching – will do my homework Ed
as well 🙂 see you all Monday
(08:12 am) Ed :have safe trip
(08:12 am) skydiver ::)
(08:12 am) taco :c ya sky have good wknd
(08:12 am) JoeyTSA :enjoy your trip sky, be
safe, see you monday
(08:12 am) Qwert :bye sky enjoy
(08:12 am) elisha :have a nice trip sky
(08:15 am) JoeyTSA :SQM weird spike
(08:15 am) JoeyTSA :AGU also Ed
(08:15 am) JoeyTSA :must be some rumor/deal
(08:20 am) Qwert :POT moving up as well
(08:31 am) chinhngo :bought uvxy
(08:31 am) JoeyTSA :Ed, maybe market
weirdness due to friday the 13th 🙂
(08:32 am) JoeyTSA ::)
(08:32 am) Ed :maybe ur right
(08:32 am) elisha :who did that?
(08:33 am) Ed :hitchcock, Alfred
(08:33 am) elisha :at least it wasn’t the
soundtrack from the shower scene in
Psycho…
(08:33 am) Ed :lol
(08:33 am) taco :i thought that was signal i
hadnt heard lol
(08:33 am) JoeyTSA :no thats the dissonant
string sound
(08:34 am) JoeyTSA :play high A and Bflat
together 4 times and yuo have psycho sound
🙂
(08:34 am) elisha :only you would know that
(08:36 am) elisha :if you mix hazelnul and
peach flavors together tastes like buttered
popcorn – as long as we’re doing trivia
(08:36 am) JoeyTSA :music for 40yrs kind of
helps too 🙂
(08:36 am) elisha :”)
(08:37 am) Ed :guess Bernanke says, “since Im
halfway out the door, I will halfway juice
the markets”
(08:38 am) JoeyTSA :wonder what next “regime”
does
(08:39 am) Ed :disconnect the plug
(08:39 am) elisha :how rocky do you think
oct will be?
(08:39 am) JoeyTSA :i have no clue
(08:40 am) JoeyTSA :time to workout, gonna
get it done
(08:40 am) JoeyTSA :back in an hour or so
(08:40 am) taco :bring it!
(08:40 am) JoeyTSA :haha, gonna do my best
(08:40 am) taco :i know you will
(08:40 am) JoeyTSA :only 4 brutal exercises
today, then day off tomorrow
(08:47 am) taco :nice top in /CL potential
downtrend
(08:48 am) chinhngo :sold uvxy
(08:50 am) chinhngo :bought mygn
(08:59 am) chinhngo :bought nugt
(09:02 am) chinhngo :sold mygn thank mr
mitch
(09:04 am) chinhngo :bought vrtx
(09:10 am) alostath3 :r u in live
(09:12 am) chinhngo :sold vrtx
(09:16 am) taco :hi alostath3
(09:18 am) alostath3 :hi
(09:18 am) taco :are you new?
(09:18 am) alostath3 :yes
(09:18 am) taco :welcome to the room
(09:19 am) alostath3 :thanks
(09:19 am) Qwert :welcome alostath3
(09:19 am) alostath3 :do u trade ES ?
(09:19 am) chinhngo :welcome to alostath
(09:19 am) taco :do you get a feel for how
the room works?
(09:20 am) alostath3 :not realy
(09:20 am) chinhngo :sold the last vrtx mr
mitch call this morning thank mitch
(09:20 am) taco :maybe a moderator can help
you out
(09:21 am) elisha :welcome alostath3 – this
is a great place to be
(09:21 am) taco :i’ve learned a lot here for
sure
(09:21 am) chinhngo :but hold your opinion
(09:22 am) taco :most stock ideas are in the
first hour or so and posted in the moderator
box
(09:23 am) alostath3 :Elisha >> why
great place to learn?
(09:23 am) chinhngo :taco where do i locate
moderator box ?
(09:23 am) taco :it’s the one only ed, mitch
joey qwert murano ed’s a can post in
(09:24 am) chinhngo :most of your guys do
not post what you are trade
(09:24 am) chinhngo :just watch , monitoring
it is hard for me to follow up your trade
(09:24 am) taco :if you have a specific
question alostath3 just ask
(09:25 am) taco :someone will be able to
answer you
(09:25 am) elisha :because if you follow the
moderators calls you will see they have an
extremely high success rate. Also – you can
ask questions about trading and they are
answered. It is helpful to observe at first
and you will catch on quickly
(09:25 am) Qwert :chin the moderator box is
the one above where you see what you type
(09:25 am) chinhngo :thank qwert
(09:26 am) chinhngo :thank mr ED do you get
mad on me ?
(09:26 am) shawn3 :is NFLx ToppY?
(09:26 am) Ed :not at all chin
(09:27 am) Ed :no reason too
(09:27 am) Qwert :alostath if we say we are
monitoring a symbol it means the idea is not
quite ready but possibly close
(09:27 am) Qwert :if we say we are watching a
symbol it usually means its close to ready
(09:28 am) taco :hi shawn how are you
doing?
(09:29 am) chinhngo :ready what ? long or
short why not call out more clearly let said
watch long approx 38.00
(09:29 am) shawn3 :Not too shabby Taco
(09:29 am) taco :good to hear
(09:33 am) Qwert :its hard for me to call
direction chin because i try to stay flexible
as example the trade could be a reversal or
could be continuation. does that make sense?
(09:33 am) taco :right qwert,
(09:34 am) Qwert :I used to get into trouble
with only one sided thinking
(09:35 am) chinhngo :ok good point mr qwert
or at least you post you traded ?
(09:36 am) chinhngo :in this room i only see
post good trade on… but ido not see post
trade
(09:36 am) Ed :chin, sometimes stocks will
allow for it, but many times not. When you
call out price say 38. One becomes fixated on
that number, but its important to understand
prices are continous if prices were not it
would be easy and you could say buy xyz at 38
but price may continue to 37.91 or 37.12
before setting up for long. And like qwert
says it allows for flexibilty
(09:37 am) Ed :but not fixating on particular
prices.
(09:38 am) chinhngo :ok ok mr ed can your
guy post what you are traded so i can blind
follow up and learn how to read the chart
slowly
(09:38 am) Ed :EZCH great example from
yesterday it dropped from price of 30 all the
way down to 23.25 Some that blindly buy based
on price level would have been burried trying
to buy 30, 29,28,27,26,25,24
(09:38 am) chinhngo :with lost or win will
be more experinced and learn more faster do
you agreed ?
(09:39 am) Ed :I trade price action chin,
which means Im focusing on how particular
stocks trades around support/resistance
levels by reading price, candles and vol
(09:40 am) Ed :My way takes more
interpretation of the now, but we have all
types of traders in room, and Im sure one or
all will be some help to yoiu
(09:42 am) Qwert :honestly chin i think you
will learn slower by following blindly, my
opinion is that then you will just focus on
following instead of learning
(09:44 am) chinhngo :anyway can your guy
post what you traded ?thank you very much for
this really help
(09:45 am) Ed :we do post what we trade Chin,
only stock i traded today was ULTA
(09:46 am) Ed :the one I mentioned at 9:30
and the 115 level
(09:46 am) Ed :9:30est
(09:47 am) chinhngo :ulta at premarket went
up 14% for beat earning
(09:47 am) Ed :as trader I dont acre the
news, I trade the action
(09:49 am) chinhngo :mr ed yes this is what
i like to trade just follow up you please
post
(09:49 am) chinhngo :i am a snipper just try
to make 200.00 and run
(09:50 am) Qwert :chin i traded aet, aria,
aro, gme, hp, nq, pot and unfi today
(09:50 am) chinhngo :so tommorrow i have fun
to play with
(09:51 am) chinhngo :qwert honstly i did not
see your posted at all or may be i
misundestood something?
(09:51 am) Qwert :i missed entry on ULTA
(09:52 am) Qwert :some symbols i posted
others were ideas posted by someone else that
i liked or happened to quick to post
(09:52 am) Qwert :i am old and type slow
(09:54 am) chinhngo :this morning i only see
mr mitch call out for top akam psx and bottom
vrtx
(09:54 am) Qwert :i also trade yelp
(09:55 am) Ed :we had about 56 calls this
monring so its to be expecting you not catch
everyone
(09:56 am) Qwert :i posted nq, yelp and ipi
but liked the action in pot better than ipi
so traded it instead
(09:56 am) chinhngo :qwert you said yelp
work on weakness only
(09:58 am) Qwert :all i said about YELP was:
monitoring YELP at 7:28pst
(09:58 am) chinhngo :qwert you said yelp on
weakness so i think this is just see the fact
not mean trade to me
(09:59 am) chinhngo :please can you post
long or shoet on … thank for that
(10:01 am) Ed :just like on this stock VPHM,
Im monitoring its halted now, but not sure
how I will trade it, as I have to see the
price action on it
(10:02 am) Qwert :if you look at the post you
will see: monitoring YELP, so it could be a
reversal or continuation
(10:03 am) Ed :I would be crazy to say short
it, and more vol comes in to take it even
higher, and same could be said for buying it
long as soon as it opens. This is wher I rely
on price action and allow the action of
price/vol and candles to let me know which
way I should go with this trade. Im just
speaking of how I trade
(10:04 am) chinhngo :yes i agreed at least
after this what you did with yelp long or
short
(10:05 am) Qwert :i traded it long based on
candle set up but small position beacause
really wanted even more of a drop based on
the daily chart of YELP
(10:05 am) chinhngo :me ed so that why i am
here to learn from you and others traders
just more clearly
(10:06 am) JoeyTSA :trading again
(10:07 am) JoeyTSA :welcome to the room
alostath
(10:08 am) JoeyTSA :thanks Ed 🙂
(10:10 am) Ed :fun using those levels when u
get vol coming in
(10:10 am) JoeyTSA :yeah, just getting back
so i missed the fun
(10:19 am) Qwert :Did you get the short
joey?
(10:19 am) taco :nice call VPHM ed
(10:19 am) JoeyTSA :no, didnt chance it
(10:21 am) JoeyTSA :you get that qwert?
(10:21 am) Qwert :yeah out now tho
(10:21 am) JoeyTSA :good job
(10:21 am) Qwert :very small position
(10:22 am) Qwert :short at 39 out at 37
(10:22 am) taco :beauty
(10:22 am) JoeyTSA :gotta love round #’s
(10:22 am) Qwert :sorry 37.51
(10:22 am) Ed :nice trading
(10:23 am) Qwert :did you get the short Ed i
missed the long
(10:24 am) Qwert :Ed do you mind sharing long
price entry?
(10:24 am) Ed :i took it long 36.03, I missed
the 35 price
(10:24 am) Ed :I was going to post a comment
and saw where stock had opened so missed the
firs level
(10:25 am) Qwert :thx i was posting a
response to chin and missed open then was
scared to chase hahaha
(10:26 am) Ed :Yea I was using stop of 35.98
(10:26 am) Ed :since i was playing the
levels, i play it tight
(10:27 am) Qwert :okay thx will remember
that
(10:27 am) Ed :Yes point is too, I did not
know which way was going to play even though
news was positive, but allowed stock to open
and saw how price/vol was actiong then since
missed 35 level for entry, next level was 36
(10:28 am) Qwert :did you set a target or
just use trading action to get out first 3/4
(10:28 am) Ed :see also, as soon as it opened
it held the 35 level, which let me know that
sellers could not take price down at that
time
(10:29 am) Ed :I used trading action
(10:29 am) Qwert :right thx
(10:31 am) chinhngo :mr mitch gc future buy
signal that mean long on nugt ?
(10:32 am) Ed :see chin, VPHM is type of
stock that due to news it moves so fast that
indicators will lag, This is where price
action as tremendous advantage, but downside
of price action is if ur new it takes while
to interpret all factors like price,
support/resistance, vol, candles. This is
where the advantage is for systems and use of
indicators, not that one is better, its all
about what is comfortable for the individual
(10:34 am) chinhngo :honestly mr ed i do not
understand it at all i am just biiner very
low trader
(10:35 am) chinhngo :biiner = beginer
(10:36 am) Ed :the markets accomodates all
types of traders, beginner,medium, advanced,
and slow, med. speed , and fast. so no
worries
(10:38 am) taco :the more time i give myself
to learn the better it is for me chin, i want
to learn fast but i learn better by learning
slow too:)
(10:39 am) chinhngo :uvxy price touch 50
days and go up it is a good long ? 1 minute
chart
(10:41 am) chinhngo :14 hours to be on
computer read all news research but still no
good
(10:42 am) taco :but you’re better than you
were?
(10:43 am) chinhngo :a little bit better
that why i subcribled many analysist
including this chat room
(10:44 am) chinhngo :win small but big loss
keep buying the loss that is my stupid
(10:44 am) Ed :differnece is majority of
analyst do not invest and definitley dont
trade
(10:44 am) chinhngo :now i learn a littla
cut loss
(10:46 am) chinhngo :how long are you trade
mr ed ?
(10:46 am) Ed :i bought my first stock when I
was 16
(10:46 am) chinhngo :wow
(10:47 am) Qwert :and hes only 00 now 🙂
(10:47 am) chinhngo :that why you are
soooooo goooood
(10:47 am) Qwert :00=99
(10:47 am) JoeyTSA :back when they mailed
certificate 🙂
(10:47 am) Ed :lol
(10:47 am) taco :haha
(10:47 am) Qwert :hahaha
(10:47 am) chinhngo :who is youg drivers at
your youtupe ?
(10:47 am) Ed :Hey Mith use to use chalk
board
(10:48 am) JoeyTSA :or chalk on a cave wall
🙂
(10:48 am) Ed :both
(10:48 am) Qwert :hahaha
(10:48 am) taco :i think traders get good
because they determine they have to and its
not a game
(10:49 am) taco :make it life or death
(10:49 am) Ed :I agree taco, only thing for
me chin when I came to TSA I had ton of bad
habits from all the yearts of doing things
the wrong
(10:49 am) JoeyTSA :and you learn what to
focus on, depending on your style
(10:49 am) Ed :way
(10:50 am) chinhngo :most of them said you
can affordable at your porfolio but do not
effect to your familly financial
(10:50 am) JoeyTSA :for me, i learned not to
waste time reading news
(10:51 am) chinhngo :the news not important
so what will make stock move ?
(10:51 am) JoeyTSA :for me news/fundamental
analysis is all a waste of tiem
(10:51 am) JoeyTSA :people buying/selling is
what makes price move
(10:51 am) JoeyTSA :i can see that on a
chart
(10:52 am) chinhngo :i base on news and
markets indicators and make decision
(10:52 am) chinhngo :i am not do know how to
read the chart
(10:52 am) JoeyTSA :right, thats your style
(10:53 am) JoeyTSA :which goes back to the
earlier discussion that i missed
(10:53 am) JoeyTSA :some traders try to guess
direction stock will go, others let the stock
tell them the direction
(10:54 am) JoeyTSA :Ed calls is price action
(10:54 am) JoeyTSA :is = it
(10:55 am) chinhngo :i like your sound joey
(10:55 am) chinhngo :but it is hard to read
the chart
(10:56 am) taco :just like learning to walk
chin, it gets easier with practice
(10:56 am) alostath3 :i don’t have the red
or black dots??
(10:56 am) taco :and patience
(10:56 am) chinhngo :like sohu is buy bottom
?
(10:56 am) JoeyTSA :best way to learn to read
charts is spend time looking at them this
weekend instead of reading news
(10:57 am) JoeyTSA :alostath: not sure what
those dots are, think thats on Ed or Diosna’s
chart
(10:57 am) chinhngo :i will take yiour
advice joey
(10:58 am) Ed :the black dots is 200ema, the
red is 200sma
(10:58 am) JoeyTSA :ahhh, thanks Ed
(10:58 am) Ed :no problem
(10:59 am) Qwert :chin you can use replay
feature to play back action and practic
(11:01 am) alostath3 :to use replay back, i
think you should buy some indicators or
software??
(11:02 am) Qwert :YOKU moving
(11:02 am) JoeyTSA :pretty sure ninja offers
replay alo
(11:03 am) Qwert :i have not used it ninja
but have in esignal
(11:03 am) JoeyTSA :i havent used it either
actually
(11:04 am) JoeyTSA :i started learning chart
reading by looking over hundreds of daily
charts, trying to pick up patterns
(11:05 am) JoeyTSA :easiest site for me was
bigcharts.com
(11:05 am) Qwert :i just printed out hundreds
of charts and then would cover up the right
side and reveal 1 candle at a time to
practice
(11:05 am) JoeyTSA :nice
(11:06 am) taco :ya
(11:07 am) taco :good boks :technical
analysis of the financial markets by murphey
(11:07 am) Qwert :i know there is a website
that lets you do the same thing but cant
remember the name right now
(11:07 am) taco :and trading in the zone by
douglas
(11:07 am) Qwert :i think Ed is the one who
told me about it
(11:08 am) Qwert :those are both really good
books taco have read them both numerous
times
(11:08 am) JoeyTSA :Ed: did you mention REGN
the other day?
(11:08 am) Ed :yes
(11:08 am) JoeyTSA :up $15 today
(11:09 am) Ed :hope someone got it
(11:09 am) Qwert :wow i have not seen REGN
all day nice move
(11:19 am) JoeyTSA :hope things pick up in
the next hour
(11:24 am) JoeyTSA :thx Mitch, plus pit is
closed i believe
(11:37 am) JoeyTSA :re:books…the 1st one i
read was ” Strategies for the Online Day
Trader ” by Gonzalez and Rhee…
(11:38 am) JoeyTSA :a bit outdated due to
tech advances, but gave me a decent base to
build on
(11:39 am) JoeyTSA :i liked it because it
actually talked about trading where most
books mainly talk about investing
(11:56 am) chinhngo :bought uvxy at 34.0
(11:59 am) Qwert :AAPL getting close to low
of a couple days ago
(12:16 pm) taco :excellent call on /GC
Mitch
(12:16 pm) JoeyTSA :yeah, great move
(12:18 pm) JoeyTSA :just coming up into S2
res
(12:25 pm) chinhngo :short 400 nflx at
304.75
(12:42 pm) JoeyTSA :Thanks
Mitch,Ed,Diosna,Qwert,everyone
(12:42 pm) JoeyTSA :wish you all a great
weekend, see you monday
(12:42 pm) Ed :c ya joey
(12:42 pm) taco :cya joey thanks
(12:47 pm) Qwert :bye joey enjoy
(12:51 pm) chinhngo :bought d at 61.30
(12:52 pm) Qwert :bye everyone have a great
weekend cya all on monday
(12:52 pm) taco :c ya Qwert, you too
(12:52 pm) chinhngo :see you on monday
(12:53 pm) Ed :c ya qwert
(12:55 pm) taco :i really like the enhanced
signals followed sometimes by cycles a bit
lower then on to excellent highs or lows
(12:57 pm) taco :thanks Mitch Ed Diosna and
everyone, have a great weekend. see you
monday!
(12:57 pm) Ed :c ya taco
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