[06:10 am] Mitch K: It’s the same story today
that is taking center stage. US politicians
can’t come to an agreement on the debt
reduction plan that has a goal of $1.2
trillion reduction in the spending in next 10
years.
[06:11 am] Mitch K: The November 23rd was
some deadline they had made in the past but
knowing politicians, this will be changed
[06:11 am] Mitch K: This caused the initial
downfall in late July and is likely to cause
more volatility, which is good for us day
traders but very difficult for long buy and
hold positions
[06:15 am] Mitch K: regarding the FMCN trade
and previous Muddy Waters Research stocks
they highlight as “fraud” is they all have
turned into pink sheet or delisted stocks.
The key thing to these wild swings is small
positions and not making big bets either way,
use the charts, not making assumptions
[06:19 am] Mitch K: Chinese digital
advertising firm Focus Media Holding Ltd
denied allegations by Muddy Waters that it
overstated its assets and overpaid for
acquisitions, saying the short seller was
misrepresenting information.
[06:25 am] Brent : good morning
[06:27 am] Kris : good morning traders
[06:30 am] Kris : FMCN long
[06:30 am] Kris : NFLX long half
[06:31 am] Kris : NEM long half
[06:32 am] Kris : GMCR long half
[06:32 am] Kris : out half FMCN long
[06:33 am] Kris : will watch GILD for a
pullback to take long
[06:34 am] Kris : REGN long half
[06:34 am] Kris : WYNN long half
[06:36 am] Brent : watching OSG for a
bounce
[06:37 am] Kris : out half NEM long
[06:37 am] Kris : RMBS long half
[06:39 am] Mitch K: watching for short in
DECK
[06:40 am] Kris : out half NFLX long
[06:41 am] Kris : out half WYNN long
[06:44 am] Brent : consider reducing OSG
[06:44 am] Brent : next target $10.98 area on
OSG
[06:45 am] Kris : out another 1/4 NFLX
long
[06:46 am] Kris : XLNX long over 31.46, I
would like to see a small pullback before a
push above resistance for the long.
[06:52 am] Kris : will watch MTOR for a
pullback to take long
[06:52 am] Mitch K: watching DY for top to
short
[06:53 am] Kris : out all NFLX long
[06:53 am] Mitch K: most of today should be
longs overall; we have had 3 down days, last
two large drops
[06:57 am] Kris : GILD long half
[06:57 am] Kris : out another 1/4 WYNN
long
[06:58 am] Kris : watching DGX for a pullback
to take long
[07:00 am] Mitch K: start monitoring GMCR for
bottom, no hurry yet
[07:00 am] Mitch K: top in NFLX, worth small
short
[07:01 am] Mitch K: watching LVS for top for
quicker short
[07:03 am] Kris : SPY coming into support
[07:04 am] Kris : I like this consolidation
in GILD against the market pullback for
higher prices.
[07:06 am] Kris : watching TNA for a long
[07:07 am] Mitch K: watching HOT for bottom,
not in hurry, no hurry, let it drop and turn
up before buying
[07:08 am] Brent : watching CPB for a
bounce
[07:08 am] Kris : DLTR long half
[07:08 am] Kris : watching MTOR for a long
soon
[07:09 am] Kris : TNA long half
[07:10 am] Kris : long more DLTR
[07:10 am] Mitch K: watching for bounce in
APC, missed short earlier
[07:11 am] Kris : RIMM death march
[07:11 am] Mitch K: should get a rebound in
NFLX here, maybe 70 cents to 1.20
[07:11 am] Mitch K: SPY bouncing
[07:12 am] Kris : I’ll be looking for any
runs in RIMM to short until they are
delisted
[07:12 am] Kris : I’ll have to look but I
think that is one of my most shorted stocks
the past 6 months at least
[07:12 am] Mitch K: FMCN approaching new low
area today
[07:18 am] Mitch K: next area to watch for
support on NFLX is 70.70
[07:18 am] Mitch K: NFLX moved down harder as
it went below the 200 ma on 2 min chart
[07:19 am] Kris : long second half GILD
[07:20 am] Kris : long second half TNA
[07:20 am] Mitch K: consider covering LVS
[07:20 am] Mitch K: SPY rebounding
[07:20 am] Mitch K: start watching to cover
NFLX soon
[07:23 am] Kris : ok, start looking for some
weak stocks in case the SPY doesn’t make it
here and breaks to a new lod, we could get a
nice drop and pull down the weak stocks
[07:25 am] Kris : out half TNA long here
[07:25 am] Kris : reducing risk cause she’s
lagging just a little
[07:26 am] Kris : I took one for the home
team
[07:27 am] Kris : now is the time for this
GILD long, if it can’t make a new hod in the
next 20-30 minutes time to start peeling out
of it.
[07:27 am] Kris : out another 1/4 TNA long
[07:30 am] Kris : GMCR long half
[07:30 am] Mitch K: FMCN still volatile
today, good trading stock. Looking for short
after this nice bounce, which i missed
[07:33 am] Kris : out half GILD long
[07:34 am] Mitch K: watching MYL for top
[07:38 am] Mitch K: consider covering FMCN if
you went short
[07:41 am] Mitch K: i still monitor the
volatile stocks like FMCN and watch for other
scalps, now looking for a rebound and
watching for a top to short
[07:43 am] Kris : out another 1/4 GILD
long
[07:44 am] Mitch K: SPY selling toward
lows
[07:44 am] Mitch K: watching GMCR again for
bottom
[07:48 am] Mitch K: new low of day on
indexes
[07:49 am] Mitch K: consider covering 2nd
helping short on LVS
[07:49 am] Mitch K: consider covering half of
MYL short
[07:49 am] Mitch K: you use these big drops
in indexes to cover shorts and look for
potential longs
[07:51 am] Mitch K: watching for bottom to
buy in FSLR, SINA, APC, GMCR, QIHU
[08:02 am] Brent : SPY at trendline
resistance
[08:04 am] Mitch K: consider covering DY
short
[08:04 am] Mitch K: here off 19 area
[08:13 am] Kris : I’ll be looking for another
move down
[08:13 am] Kris : SPY starting to come into
resistance area
[08:13 am] Kris : weak bounce against the
last move down
[08:22 am] Mitch K: new low of day on
Indexes, SPY
[08:32 am] Mitch K: MCP up against the
market. when market bounces, it brings up
stocks like MCP further
[08:32 am] Mitch K: the strong stocks in a
down market perform the best when mkt turns
around
[08:39 am] Mitch K: watching CRM if 107.45
holds or it bounces off, probably goes down
through it
[08:40 am] Mitch K: but snooping around f or
a long, esp to coincide with indexes
bouncing
[08:40 am] Mitch K: new SPY lows
[08:41 am] Mitch K: new high on MCP today
[08:43 am] Mitch K: monitoring CREE for
potential long
[08:46 am] Brent : SPY at trendline
resistance
[08:47 am] Mitch K: FMCN still pumping out
trade ideas
[09:03 am] Mitch K: now you start monitoring
for a quick short on some of these bounces,
LULU would be one to watch
[09:07 am] Mitch K: watching DECK for
short
[09:07 am] Mitch K: also watching CRM for
short but take your time on these shorts and
let the indicators all turn for you at same
time before shorting
[09:26 am] Mitch K: FMCN just keeps churning
out great scalps
[09:26 am] Mitch K: short, long, long, short,
long, short, long short
[09:27 am] Mitch K: sounds like Cantonese
[09:28 am] Mitch K: keep your SPY chart up
throughout day, now correcting sharply,
helping our shorts
[09:29 am] Mitch K: this time of day, you
pretty much are going for 1% profit
potentials, which take 25 minutes hold time
except today is faster and more money, more
ideas
[09:30 am] Mitch K: couple more candles down
on LULU next few minutes consider reducing
short, trying below 46.50
[09:34 am] Mitch K: that’s it for LULU
short
[09:35 am] Mitch K: you all know to not wait
for a comment or signal from us to enter or
close any position, right? key thing is to
study what setups are good. Remember waiting
is the hardest part of trading, requires the
most discipline and patience
[09:36 am] Mitch K: but i have never done
that, only heard other people have that
problem
[09:36 am] Mitch K: it’s the part where we
lose patience or discipline and do something
dumb that erases a whole mornings work of
profits, or sometimes days of profits.
[10:14 am] Mitch K: quick lesson on this CRM
chart today
[10:18 am] Mitch K: first you have setup on
stochastics and moving average same as i
do
[10:20 am] Mitch K: sorry about that, i just
accidentally clicked exit instead of another
button, now the projector won’t work, argh
[10:27 am] Kris : it’s funnier that mitch
thought I was serious than the joke itself
[10:27 am] Kris : lol[10:27 am] Kris : Obama
announces new Extreme Mega Ultra Committee to
Investigate why Super Committee Failed.
[10:27 am] Kris : that’s how bad things
are
[10:27 am] Mitch K: are you serious Kris?
[10:27 am] Mitch K: it wouldn’t surprise me,
would make Obama look like he is trying to do
something
[10:28 am] Kris : I think i’ve said “you
can’t make this stuff up” more times this
year than ever in my entire life.
[10:28 am] Mitch K: well, you couldn’t write
a better script than what the world is giving
us
[10:29 am] Mitch K: its true bad boy.
[10:30 am] Mitch K: here is example of a
chart I like. there were many of these
today
[10:30 am] Mitch K: you see the nice swings
in the stochastic from oversold at the bottom
part of channel and then the oversold at the
top of channel, then back down again then
back up again?
[10:31 am] Mitch K: that is ideal scalping
chart, this one is 2 min chart
[10:31 am] Mitch K: when you see this on a
daily chart, that’s excellent swing trading
chart as well
[10:31 am] Mitch K: you make the most money
with this type of chart pattern
[10:31 am] Mitch K: you see that guys?
[10:33 am] Mitch K: now write this down
somewhere like your trading log: When the
volatility is very high, i mean very fast and
large moves……. those moves get ahead of
the indicators. and the indicators wont react
as quickly as a fast mover
[10:33 am] Mitch K: so let me go to another
chart
[10:34 am] Mitch K: this is a 5 minute as
circled in the blue lines
[10:34 am] Mitch K: this is esignal charting
that i am using,
[10:34 am] Mitch K: this is the SPY, a chart
that i have up on a chart window all day,
every day. it’s the SP 500 etf[10:35 am]
Kris : nice SPY trendline support building.
we’re getting a little overextended on the
day. see if we get a higher low or double
top then fail soon.
[10:35 am] Kris : we could see a retest of
the day’s lows
[10:35 am] Mitch K: you can use whatever
charting you like, esignal is what i am used
to. it is a little expensive but i won’t
change because of a savings
[10:36 am] Mitch K: you guys write that jewel
down in your trading log? then it’s worth
pinning up on wall or tape on edge of
monitor
[10:37 am] Mitch K: copy and paste that
[10:37 am] Mitch K: When volatility is very
high, the indicators will lag behind them.
When we have a nice rolling hills on the
charts (normal trading), the indicators are
accurate and timely.
[10:38 am] Mitch K: at the bottom
[10:38 am] Mitch K: it’s about 840am pacific
time
[10:38 am] Mitch K: ok, now, see the area
circled here in the spy, i am now going to
draw
[10:38 am] Mitch K: see that?
[10:38 am] Mitch K: write this time down
because i am removing the blue lines because
i can’t use other tools i need, like cross
hairs
[10:39 am] Mitch K: so you see how fast that
moved up right, i think i was saying that we
wanted a rebound in the SPY to help our longs
that were developing nicely, i posted a
handful of stocks for longs earlier
[10:40 am] Mitch K: and then the SPY had a
big move and quickly, as far as the SPY is
concerned. but nothing like FMCN drop
yesterday, lol[10:40 am] Mitch K: but even
here on the SPY, the indicators lag behind
the price when price moves very fast, let me
show you
[10:41 am] Mitch K: look at the stochastics
below on the rise from 840am here to 905am
(all Pacific time)
[10:42 am] Mitch K: now follow the cross
hairs i will show as i move the cross hair on
the stochastics and look how far behind you
will see stochastics on the CORRECTION in the
SPY candles
[10:43 am] Mitch K: see how the stochastics
don’t even react to the pullback in SPY from
119.80 to 119.20? until 930am the stochastics
peak?
[10:44 am] Mitch K: that is my point is
indicators get way behind price charts when
it’s a fast market
[10:47 am] Mitch K: but you can change your
indicator settings to account for that but
just remember that
[10:55 am] Kris : Everyone have a great day.
I’m taking my Dad golfing. It’s sunny and
65
[10:56 am] Kris : lol matt
[10:56 am] Kris : see you all in the
morning.
[11:15 am] Mitch K: FMCN still pumping out
more ideas guys, must be 6 trades today, last
one a short, i think a long again today
later
[12:02 pm] Brent : SPY still trending down,
coming into trendline resistance
[12:07 pm] Brent : ROVI still weak, a break
below $26.90 could be interesting tomorrow
[12:19 pm] Brent : DLR new low
[01:00 pm] Brent : see you all in the
morning
[01:00 pm] Brent : have a great night
|
[06:06 am] joeytsa : prelim GDP came in
under @ 2% with 2.4 forecast, FOMC minutes at
11am pst[06:07 am] eyes : My first trades
yesterday were losers and then i Froze
[06:07 am] joeytsa : it happens, at least
you are focusing on the right area..the
mental aspect
[06:10 am] observer : eyes, I don’t know how
early you entered trades, but the earlier you
enter, the earlier you’ve got to exit.
[06:10 am] joeytsa : gap ups:
FMCN,LNG,MDT,AAPL
[06:12 am] joeytsa : gap downs:
NFLX,AMZN,PCLN,CRM,FIO,
[06:13 am] joeytsa : shark: your buddy NFLX
is under $70 🙂
[06:13 am] shark : getting faster to $50
than I had expected
[06:15 am] doji : Shorted NFLX pre-market at
70.82
[06:16 am] joeytsa : FMCN will host a
conference call today
[06:16 am] shark : in chinese?
[06:16 am] joeytsa : in response to the
muddy waters report
[06:16 am] shark : I don’t think that will
help me understand the chinese any better.
[06:18 am] doji : GS has placed its rating
and price target on FMCN under review
[06:18 am] anthonyb : which means they are
already short
[06:19 am] shark : NFLX & FIO announced
secondary offerings yesterday
[06:19 am] joeytsa : sounds like a short
idea shark
[06:19 am] joeytsa : i was wondering why FIO
was gapping down
[06:20 am] shark : NFLX -has $1B in unfunded
liabilities
[06:20 am] doji : so FMCN is chinese… now
I know better
[06:20 am] shark : I knew you were thinking
that
[06:21 am] joeytsa : i doubt the stocks
would have many buyers right
[06:21 am] shark : NFLX lowered to $59 at
Caris & Co.
[06:22 am] derns : Morning Joey…didn’t you
say the Tuesday before Thanksgiving is the
lowest day of the week?
[06:22 am] joeytsa : since 2000 yes
[06:22 am] joeytsa : only day that was
negative during that timeframe
[06:23 am] joeytsa : but that report also
said that monday b4 thanksgiving was the best
haha[06:23 am] taco : looking forward to all
your great info…
[06:24 am] shark : NFLX $60 target SELL at
Canaccord Genuity[06:26 am] joeytsa : ES
overnight lows 1184 area
[06:26 am] taco : really appreciate this
room and all you guys and gals
[06:27 am] joeytsa : NYSE BPI flipped back
to “o’s”
[06:28 am] joeytsa : will definitely be
looking for any bounce to set up some swing
shorts
[06:31 am] observer : metals bouncing from
bottom of range!
[06:33 am] doji : NFLX S 69.73
[06:34 am] sfarrill : VAL alert
[06:34 am] joeytsa : OSG falling…lower vol
possibly
[06:36 am] shark : NFLX secondary priced @
$70
[06:36 am] observer : sfarrill, looking like
a good short on VAL, yes?
[06:37 am] derns : HPQ looks interesting
[06:37 am] joeytsa : earnings dern[06:38 am]
observer : SLW getting up to hod, already
[06:38 am] pandozzi : vmw alert
[06:39 am] joeytsa : 4th qtr profits plunge,
but adjusted earnings/share and revs were
above estimates…they forecast a weak
outlook for 1st Q and full year 2012
[06:39 am] joeytsa : that was HPQ
[06:40 am] candelas : SFL watching
[06:41 am] joeytsa : NFLX with the gap
close
[06:42 am] shark : it could get some support
at the secondary price NFLX -($70)
[06:42 am] shark : from the big guys
[06:44 am] joeytsa : PLCE might get
toppy…very low vol though
[06:46 am] observer : partial profits on SLW
may be in order if anyone is long
[06:46 am] joeytsa : same with HES
observer
[06:46 am] anthonyb : out HPQ long.
[06:47 am] skydiver : Take over chatter on
HES
[06:47 am] anthonyb : quick 1%
[06:47 am] doji : sina[06:47 am] chinhngo :
short deck at 99.62
[06:48 am] joeytsa : watch your stop
chinhngo[06:48 am] observer : never
mentioned SA it’s there too
[06:49 am] joeytsa : market has been strong
since slight pullback on open
[06:49 am] joeytsa : IOC nice today
[06:50 am] joeytsa : good call on metals,
ABX hod[06:51 am] observer : SLW more profit
taking may be in order
[06:51 am] shark : AAPL pull back
[06:52 am] joeytsa : HES may pullback, but
its been strong
[06:52 am] apple : LULU closed gap
[06:52 am] shark : nice aaple – LULU
[06:52 am] joeytsa : was it a gap?
[06:53 am] joeytsa : looks like 3cents to
me
[06:53 am] shark : Thx, MITCH! 🙂
[06:54 am] shark : Awesome NFLX – Kris!
[06:54 am] joeytsa : out IOC
[06:54 am] joeytsa : great call on NFLX
kris[06:54 am] apple : yeah, K, great on
NFLX
[06:56 am] joeytsa : HES hod, look to take
some profits
[06:57 am] mikewd2 -: APA
[06:58 am] joeytsa : WYNN, another nice call
on the gap down and close
[06:58 am] doji : NFLX reversing
[06:59 am] eyes : Thoughts on S NFLX 3
min
[06:59 am] joeytsa : a few names
reversing/taking a breath
[06:59 am] anthonyb : RIMM looking weak
[07:00 am] joeytsa : NFLX got weak right b4
the prev cl
[07:01 am] skydiver : S NFLX 73.16
[07:01 am] doji : out 1/2 NFLX S here
[07:01 am] joeytsa : VMW looks weak
[07:03 am] doji : NFLX has classic V
reversal pattern in 2min chart
[07:05 am] skydiver : moving stop down on
NFLX
[07:07 am] observer : looking for a tiny
nibble at SLW
[07:08 am] lightning : watching CTRP for
long opportunity
[07:08 am] skydiver : out 1/2 of NFLX
72.07
[07:08 am] derns : a lot of stocks are in a
slow downward move
[07:09 am] lightning : CTRP doesn’t not have
increasing volume, sorry
[07:09 am] derns : RIMM not available for
short at Scwhab[07:09 am] shark : NFLX short
nice 🙂
[07:11 am] shark : everybody has RIMM short
available
[07:11 am] skydiver : Stopped out of NFLX
72.16
[07:11 am] anthonyb : IB has them to
short
[07:12 am] joeytsa : derns, RIMM isn’t
listed as ‘hard to borrow’ on my schwab
sse[07:12 am] shark : THX, KRIS! 🙂
[07:12 am] derns : Kris…how do you really
feel about RIMM, tho?
[07:12 am] khall : thnx Kris
[07:13 am] joeytsa : DSW weak
[07:13 am] joeytsa : will be looking for
another short on CRM on weak strength
[07:13 am] skydiver : Loved NFLX S 73.16 –
covered 72.16 and 72.07
[07:13 am] shark : volume is anemic in a lot
of stocks today
[07:14 am] doji : HOT L 45.83
[07:14 am] doji : stop below 45.68
[07:14 am] joeytsa : RIMM was around $70
back in march
[07:15 am] joeytsa : they were one of the
few swing winners i had last spring hah
[07:15 am] derns : HOT long 45.88
[07:16 am] eyes : L CPB 32.09 stop .82
[07:16 am] shark : NFLX getting trashed on
CNBC
[07:16 am] anthonyb : I’m still waiting for
HOT to buy
[07:16 am] mikewd2 -: me too eyes on CPB
[07:17 am] doji : out 1/4 NFLX S here
[07:17 am] anthonyb : how about buying MTOR
right here 5.09?
[07:18 am] shark : NFLX $49 target at Janney
Montgomery Scott
[07:18 am] eyes : what was your stop mike
[07:18 am] skydiver : S NFLX 71.63 – in
again — nice job doji[07:18 am] joeytsa :
trailing CRM 🙂
[07:19 am] candelas : yep got it as it
peaked
[07:19 am] skydiver : Thanks Mitch on NFLX
support
[07:20 am] joeytsa : GMCR lod[07:20 am]
anthonyb : out DECK short 99.67 +.98
[07:21 am] joeytsa : IOC looking to give up
all today’s gains
[07:21 am] doji : all out NFLX here
[07:21 am] derns : out HOT…
[07:21 am] joeytsa : nice anthony[07:21 am]
shark : not so HOT
[07:22 am] anthonyb : that’s becoming my new
Stevie Wonder trade. Even a blind guy could
do it
[07:22 am] mikewd2 -: eyes, did u get stopped
on CPB? missed me by 0.01
[07:22 am] eyes : stop.82
[07:23 am] doji : closing HOT here
[07:23 am] joeytsa : thanks kris[07:23 am]
anthonyb : actually thinking of Buying Deck
for a long right here
[07:24 am] anthonyb : missed it
[07:26 am] candelas : figures, u sell 1/2
she pops
[07:26 am] joeytsa : all out CRM
[07:27 am] doji : S 1/2 position NFLX
here
[07:27 am] doji : will add below 71
[07:27 am] observer : taking partial profits
on SLW
[07:27 am] skydiver : doji is riding the
NFLX waves! Great job doji[07:27 am] khall
: yeo, GILD is kind of lagging along
[07:28 am] eyes : Brent in my case were i
got stopped out CPB .82 do i get back in or
pass
[07:28 am] joeytsa : AGQ hod[07:28 am]
observer : Joey, your HES is bouncing back
again.
[07:29 am] derns : SLV/AGQ are certainly
acting different than I would expect
[07:29 am] Brent : I wouldn’t get back in
eyes, it’s weak against the market
[07:29 am] joeytsa : thanks observer, same
with IOC
[07:30 am] observer : I’ll watch IOC too,
joey
[07:30 am] observer : I’m enjoynig SLW
too
[07:32 am] anthonyb : out MTOR long for +.10
that doesn’t seem like much, but it 2%
[07:32 am] doji : GMCR lod[07:32 am]
observer : 2’s good anytime, anthonyb[07:33
am] anthonyb : sure is
[07:33 am] candelas : that’s great u kept
trade in context anthony[07:33 am] joeytsa :
yeah doji, GMCR looks weak on the lower
highs/lower lows
[07:33 am] taco : nice call on gild
[07:34 am] anthonyb : lol if you look at the
chart, I think I actually moved the market a
penny with my sell order
[07:35 am] mikewd2 -: stopped on CPB
[07:35 am] lightning : there’s the top in
FMCN
[07:35 am] joeytsa : looking for a strong
support fail around $109 on CRM
[07:36 am] joeytsa : esp if market turns
down
[07:36 am] doji : MYL S 17.91
[07:39 am] qwert : thx mitch for fmcn[07:39
am] electrader : s FMCN 16.52 stopped last
piece 16.20
[07:39 am] shark : AMZN near lod -weak
today
[07:39 am] doji : NFLX is holding, moving my
stop a b/e in the event it moves above 72
[07:40 am] joeytsa : yeah shark…AMZN is
one i thought would stay strong considering
how many people shop online etc[07:40 am]
eyes : MYL S .88
[07:40 am] shark : should be some CNBC
stories about Friday sales and who will
benefit –
[07:41 am] qwert : watching gmcr[07:41 am]
shark : could catch a pop
[07:41 am] joeytsa : yeah…if retailers
don’t put up good numbers..yikes[07:41 am]
shark : GMCR – sweet
[07:41 am] shark : hmmm….. 🙂
[07:43 am] joeytsa : GMCR just went below
S1
[07:43 am] doji : HOT frozen in time
[07:44 am] mikewd2 -: SINA lod[07:45 am]
anthonyb : same with SOHU
[07:46 am] shark : LULU lod[07:47 am]
anthonyb : out 1/2 MYL
[07:47 am] mikewd2 -: nice call on CRM,
joey
[07:48 am] observer : SLW new lod[07:48 am]
shark : AAPL toppy
[07:48 am] doji : SPY lod[07:48 am] anthonyb
: I wish RIMM would just die already
[07:48 am] doji : out 1/2 MYL S at 1%
[07:49 am] doji : trailing 2nd stop
[07:49 am] anthonyb : nice doji. I got out
1/2 a little early
[07:50 am] eyes : Out Half MYL.73
[07:50 am] doji : all out MYL
[07:51 am] anthonyb : same here doji[07:51
am] pandozzi : anyone get short on vmw[07:51
am] doji : FSLR lod[07:59 am] anthonyb :
out 1/2 RIMM short just in case this support
at 16.80ish holds
[08:05 am] zentrader : cheers everyone, off
to the airport. Mitch thanks for DY and I
milked FMCN again today. peace out
[08:05 am] Brent : have a good one Zen
[08:06 am] derns : GMCR continues…
[08:08 am] doji : SINA lod[08:08 am] mikewd2
-: stopped on SINA last head fake
[08:11 am] candelas : ipxl getting close to
resis, needs more vol, higher push
[08:12 am] mikewd2 -: trying SINA one more
time
[08:12 am] doji : Anyone got SINA at my
post?
[08:12 am] joeytsa : long or short mike?
[08:12 am] lightning : GMCR is resisting the
move up with the SPY. Looking for more
downside
[08:12 am] doji : goy it L at 63.92
[08:13 am] joeytsa : CRM still throwing off
some nice profits
[08:13 am] shark : you L joey, CRM?
[08:13 am] lightning : only if you’re on the
correct side of it, Joey!
[08:13 am] lightning : lol[08:14 am] doji :
out 1/2 SINA here
[08:14 am] doji : move 2nd 1/2 to b/e[08:14
am] khall : shark, I’m in L CRM 108.67
[08:14 am] shark : ok
[08:16 am] joeytsa : no shark…but when i
mentioned earlier on the breakdown at $109 i
was on it
[08:16 am] joeytsa : waiting for the next
short to come
[08:16 am] shark : ok
[08:16 am] joeytsa : i am being very picky
today, more so tomorrow morning
[08:17 am] shark : and Fri???
[08:17 am] joeytsa : yeah..probably will
trade
[08:17 am] joeytsa : depends on how late a
night thurs is
[08:17 am] shark : isn’t’ that the most
likely up day of the year over last 100
years?
[08:17 am] anthonyb : I’m not trading
anymore after today until Monday
[08:18 am] joeytsa : since 2000, wed has
outperformed fri[08:18 am] doji : GMCR L
[08:18 am] shark : wed before turkey day?
[08:18 am] joeytsa : yeah wed b4 .52%, fri
.22%
[08:18 am] shark : awesome!
[08:18 am] shark : you got all the RBI’s
there too? haha[08:19 am] joeytsa : pct
positive days : wed b4 73%, fri 55%
[08:20 am] skydiver : Have a great day all!
Have to attend some business. See you all
tomorrow!
[08:21 am] joeytsa : i blew that CRM long,
oh well
[08:24 am] joeytsa : 6m SPY chart not
looking great
[08:25 am] jsn13 : FMCN spiking…
[08:26 am] doji : FMCN moving up, looking to
short if it doesn’t break 17 first
[08:27 am] shark : NFLX still moving up
[08:27 am] joeytsa : on the 6m, you have the
20 with a good slice thru the 200d, and not
far from slicing the 50d…with prices below
all 3
[08:27 am] joeytsa : also the nyse bpi went
on a sell signal
[08:27 am] candelas : had nice 24 min
consolidation on 1min speaking of FMCN good
for study
[08:28 am] candelas : from 10:52est to
11:16est
[08:28 am] joeytsa : interesting
candelas…good to note
[08:29 am] joeytsa : candelas…just threw
on some bb’s, tight contraction and then
busted above
[08:29 am] doji : S 1/2 FMCN here
[08:29 am] candelas : yep
[08:29 am] joeytsa : i don’t use bb’s
anymore for some reason
[08:29 am] candelas : i just use visual,
recognition from all my study
[08:29 am] joeytsa : but they work great in
tight consolidation areas
[08:30 am] anthonyb : I’m done guys, stopped
on my last piece of RIMM for a .02 loss. Have
a great thanksgiving everyone. And thank you
Mitch for DECK. Kris for MTOR, and Brent for
OSG. Great day. Happy thanksgiving to all.
[08:31 am] shark : daily vol getting even
lower on many stocks
[08:31 am] joeytsa : candelas : during that
contraction/tight bb’s the macd trended
up…maybe a clue?
[08:32 am] candelas : ur right
[08:32 am] joeytsa : great advice/reminder
Mitch
[08:34 am] shark : SPY new lod[08:35 am]
joeytsa : yep and CRM with more profits
[08:35 am] doji : Missed S in NFLX at 73
[08:35 am] shark : I’m short CRM too -on
your downgrade, joey
[08:36 am] joeytsa : i got out at 108
[08:36 am] candelas : amzn lod[08:38 am]
shark : GLD near lod[08:38 am] joeytsa :
AMZN below S1
[08:38 am] jsn13 : Shorted FMCN @ 16.90
covered at 16.60….doji u r still in?
[08:38 am] shark : would like to see GLD
break and head to fill gap
[08:39 am] joeytsa : you thinking about
swinging GLD shark?
[08:39 am] doji : All out FMCN hahah I got
distracted on MCP
[08:39 am] doji : Thanks JNS13 for the
reminder
[08:40 am] joeytsa : CRM has s1 around
106.50, S2 around 101.20
[08:40 am] shark : it would just be a day
trade, joey
[08:41 am] joeytsa : gotya[08:41 am] shark
: and S3 ?
[08:41 am] jsn13 : Thanks doji that u posted
ur entry….
[08:41 am] joeytsa : funny, you know i don’t
have that haha[08:41 am] joeytsa : shark you
use esignal right
[08:41 am] shark : Worden TC2000
[08:42 am] joeytsa : oh ok…i was wondering
how many pivots esignal had
[08:42 am] joeytsa : 1 and 2 are usually
enough for me to daytrade though
[08:43 am] candelas : u short crm Joey
[08:43 am] joeytsa : along with the actual
“pivot” and previous close…plenty of
trades
[08:44 am] joeytsa : i am , with stop at
be
[08:44 am] shark : AGQ had a nice top
-missed it
[08:46 am] doji : Watching FMCN
[08:46 am] shark : GLD near lod[08:47 am]
doji : Watching LULU
[08:48 am] doji : FMCN broke resistance
[08:53 am] shark : LULU pop off bottom
[08:55 am] doji : Nice move in LULU
[08:56 am] qwert : doji thank you for
lulu
[08:57 am] apple : GMCR moving
[08:58 am] mikewd2 -: finally SINA paying
off
[09:00 am] apple : MCP hod[09:02 am] shark
: LULU nice vol spike
[09:02 am] doji : 1/2 out LULU here
[09:03 am] mikewd2 -: stopped on trailing
stop on SINA
[09:03 am] derns : AGQ?
[09:03 am] shark : GRPN – dog w/flies -but
maybe a bounce here
[09:03 am] doji : all out MCP, thanks
Mitch
[09:04 am] mikewd2 -: just downloaded Worden
TC2000, kind of like it
[09:04 am] doji : LULU S here
[09:05 am] shark : 🙂
[09:05 am] shark : out all LULU long
[09:06 am] doji : CREE lagging
[09:07 am] shark : NFLX -anticipated net
loss 2012
[09:07 am] derns : These folks on CNBC are
blasting NFLX
[09:08 am] shark : better to be too hard on
a co. -than too easy!
[09:08 am] mikewd2 -: out half TNA 39
[09:08 am] shark : LULU still showing
strength
[09:10 am] shark : CMG triple top on daily
-also hitting Fib 61.8% resistance
[09:12 am] shark : CRM turning down
[09:15 am] apple : super committee
failed…
[09:15 am] mikewd2 -: DMND hod[09:18 am]
shark : FXE at hod -bodes well for our
market
[09:18 am] doji : adding 1/2 short LULU
[09:20 am] jsn13 : ANyone shorted FMCN juz
now?
[09:20 am] doji : too late JSN13
[09:22 am] jsn13 : as in did u shorted at
the top @ 17.40 area? It’s doesn’t look that
good right?
[09:22 am] doji : MCP resistance at 30
[09:22 am] doji : No I didn’t short it as
the SPY was moving up
[09:23 am] doji : Remember, trade what you
see not what you hope
[09:23 am] candelas : great wisdom
doji[09:23 am] doji : The indicators are at
the bottom for FMCN
[09:24 am] Mitch K: or for blind people,
trade what you feel, not what you see
[09:24 am] candelas : lol[09:25 am] doji :
Sorry JSN13 for sounding rude but otherwise
it will be gambling and not trading
[09:26 am] jsn13 : U misunderstood my
intention here….’m not gonna short
here….
[09:27 am] jsn13 : haha no worry….I juz
wanna confirm with u that would u short at
the top juz now….
[09:27 am] candelas : i agree, great trade 2
days in a row
[09:27 am] shark : FXE topping
[09:27 am] shark : LULU short nice
[09:27 am] jsn13 : Now with the indicators
at the top channel is guess should have
shorted at 17.40 area….
[09:28 am] doji : out 1/2 LULU s here
[09:28 am] doji : will trail second 1/2
[09:29 am] doji : Did anyone shorted MCP
below 30 before it hit resistance?
[09:29 am] apple : missed it
[09:29 am] candelas : i was all over
gmcr[09:29 am] apple : good for you
candelas
[09:30 am] candelas : yea I try
[09:30 am] apple : you’re good…
[09:32 am] candelas : I’m not doing 94
trades today though, i was little tired
yesterday
[09:32 am] doji : all out LULU S
[09:33 am] candelas : nice trade doji[09:33
am] apple : i don’t know how you did it with
only 2 hands!!! you are a marvel…
[09:33 am] jsn13 : How long have u been
trading doji?
[09:34 am] doji : Since February 2010 and
with the trading room after the Seminar in
Las Vegas in March this year
[09:34 am] candelas : it was little weird,
since i avg. 10 a day, but once in a while i
just hit the gas on what i see
[09:35 am] doji : I am tired too Candy, I
usually make only 4 to 5 quality trades;
today I went over 20….
[09:35 am] apple : wow, you guys know how to
push it…
[09:36 am] apple : oh, we hear you on that
one, MK!
[09:36 am] mikewd2 -: me either Mitch
[09:38 am] doji : FMCN at support
[09:39 am] khall : Well, before I do that,
I’m going to take my 3% and close for the
day. See you tomorrow am!
[09:39 am] Brent : nice work khall, see you
tomorrow
[09:45 am] neel : Mitch, is there any Short
trade here in NEM?
[09:46 am] Brent : not enough potential on
NEM in my opinion neel[09:47 am] chinhngo :
CAN LONG ON GRPN ?
[09:47 am] chinhngo : long on fro 40% down
?
[09:48 am] Brent : too much risk in my
opinion chingo, not the right setup
[09:52 am] mikewd2 -: CPB came back from
lows
[09:52 am] shark : AAPL hod[09:58 am]
victor51 : Mitch, Which one do i need to
master first, Trade with Pros or The
Wizard?
[10:00 am] Brent : for daytrading, I would
start with Trade with Pros
[10:04 am] victor51 : Thanks Brent. I will
be equipped with better tool
[10:07 am] qwert : fmcn in consolidation for
30 mins 25cent range
[10:07 am] doji : S SLB at 4th top
[10:10 am] mikewd2 -: Frontline price target
cut to $2 from $3.50 at Dahlman Rose
[10:10 am] Brent : Descending triangle on
FMCN qwert[10:11 am] Brent : you see it?
[10:11 am] qwert : yeah
[10:12 am] Brent : I won’t trade it, just
pointing it out
[10:12 am] mikewd2 -: JEF had a nice
bounce
[10:12 am] mikewd2 -: been playing JEF off
10.00
[10:15 am] qwert : ready mitch[10:16 am]
apple : ready MK
[10:16 am] doji : FMCN moving up
[10:17 am] candelas : nice piece of change
on jef[10:19 am] chinhngo : ryl = 14.05
hod[10:20 am] Brent : mitch must have hit the
wrong button
[10:31 am] neel : yes
[10:31 am] jsn13 : yup…agree…
[10:31 am] apple : yes, easy to
understand
[10:32 am] qwert : love it
[10:36 am] qwert : got it all written down
thx
[10:37 am] apple : writing it down right
now
[10:38 am] doji : Carved in stone
[10:39 am] neel : yes you did
[10:42 am] mikewd2 -: Jefferies CEO weighing
sale to larger competitor, FOX Business
reports
[10:42 am] mikewd2 -: i assume this means
they have an offer?
[10:44 am] qwert : yeah i see it
[10:44 am] lightning : on a fast move, would
you really be using a 5minute chart?
[10:46 am] taco : what’s the best way to
handle that type of action then?
[10:48 am] qwert : so would you adjust
stochastics to 8,7,6 for the faster moves
mitch?
[10:56 am] taco : cool, have fun
[10:56 am] lightning : have fun Kris. Don’t
take too much money from him
[10:56 am] qwert : have a good one kris
great calls today
[10:56 am] doji : SPY
[10:57 am] dan : Mking , do you base on
lower low in price and higher low in
stochastic for a long?
[11:00 am] victor51 : Brent, Can I access
the entire today’s chat box lessons in
future?
[11:02 am] doji : Out 1/2 SLB short here at
1% profit, will trail second half
[11:03 am] Brent : I’ll post it in documents
folder at the end of the day victor
[11:03 am] doji : NFLX
[11:04 am] taco : FMCN
[11:05 am] doji : FMCN S here, tight stop
[11:08 am] joeytsa : Mitch : just finished
reading…great lesson on lagging indicators
on fast movers
[11:09 am] joeytsa : b4 using indicators i
used the slowdown of prints to time those
reversals…wonder if that still works?
[11:14 am] Mitch K: ki don’t think that would
work slowing prints down joey,
[11:14 am] Mitch K: unless you are swing
trading in slow motion
[11:14 am] Mitch K: or buy and hold
[11:14 am] Mitch K: i think it’s buy and
mold
[11:14 am] joeytsa : this was back a long
time ago
[11:15 am] doji : FMCN moving up
[11:15 am] joeytsa : just watching the order
flow
[11:15 am] joeytsa : thanks
Mitch…sometimes i watch time/sales…but
not like i used to
[11:15 am] doji : FMCH hod[11:17 am] apple
: AMZN strong all day
[11:17 am] doji : Let’s see if FMCN break
18
[11:18 am] apple : are you L, doji?
[11:18 am] doji : No Apple, I am looking for
short
[11:18 am] candelas : i still watch time
& sales Joey
[11:19 am] joeytsa : i glance at it, but i
used to really follow the speed of the prints
going off….
[11:19 am] doji : 18.8 resistance from
yesterday
[11:19 am] apple : just brok prev hod[11:20
am] joeytsa : thought maybe there might be
something to study regarding Mitch’s lesson
today on fast movers outrunning the
indis[11:21 am] candelas : esignal has the
best time & sales that i have seen
[11:22 am] doji : Anyone Shorted FMCN
here?
[11:23 am] doji : SINA
[11:28 am] doji : JSR13, did you short
FMCN?
[11:29 am] mikewd2 -: talking about FMCN on
CNBC now,
[11:29 am] doji : Wow
[11:29 am] doji : Who is talking, someone
from Muddy Waters?
[11:32 am] joeytsa : doji: think it was just
the hosts
[11:33 am] mikewd2 -: yeah, just the hosts –
stating FMCN may sue Muddy Waters over
comments.
[11:34 am] mikewd2 -: stated that the CEO or
someone from FMCN is going to buy millions of
dollars of the ADR
[11:34 am] joeytsa : Muddy Waters can just
use the profits they made yesterday to pay
off the lawsuit :
[11:34 am] mikewd2 -: right
[11:42 am] jsn13 : Haha nope was away just
now…..missed 2 shorts in FMCN…..add up
bout 10%…what a waste….
[11:42 am] qwert : watching yoku[11:43 am]
lightning : JCOM drop
[11:51 am] skydiver : S YOKU 15.31
[11:51 am] skydiver : multi-tasking and
forgot to post
[11:53 am] mikewd2 -: J2 Global mentioned on
Sam Antar’s White Collar Fraud blog
[11:53 am] skydiver : Thanks qwert for YOKU
– would have missed it otherwise
[11:53 am] candelas : nice call qwert[11:54
am] lightning : Mike, I saw that too, but
that was much earlier — I was surprised that
JCOM didn’t drop then.
[11:54 am] skydiver : out of YOKU 15.02
[11:54 am] mikewd2 -: your right ligntning
didn’t notice the time
[11:54 am] skydiver : Thanks to qwert!
[11:54 am] lightning : still weird though
Mike
[11:55 am] lightning : no move on an
announcement like that until much later
[11:55 am] mikewd2 -: looks like a good swing
short
[11:56 am] mikewd2 -: i shorted it at 27.45,
we will see
[11:57 am] mikewd2 -: JCOM at lod[11:57 am]
lightning : good luck Mike….let’s see it
below 27 by end of day then
[12:06 pm] doji : NFLX approaching 70
[12:12 pm] shark : nice drop AAPL
[12:13 pm] mikewd2 -: stopped on JCOM, made
1%
[12:14 pm] lightning : nice Mike
[12:19 pm] skydiver : watching DLR
[12:22 pm] doji : Not enough drop for my
taste at this time of the day
[12:23 pm] skydiver : Hey – is the market
open this Friday or ?
[12:23 pm] Brent : closes early skydiver
[12:23 pm] qwert : partial day sky on
friday[12:23 pm] joeytsa : closes 1pm
est[12:25 pm] skydiver : Took my eyes off of
DLR — oh well
[12:26 pm] joeytsa : AMCN hod[12:26 pm]
apple : sky – DLR was a good one!
[12:26 pm] mikewd2 -: anyone going to short
DE into earnings?
[12:26 pm] apple : no, are you?
[12:27 pm] mikewd2 -: no, i learned my lesson
on earnings!
[12:27 pm] joeytsa : tricky mike : DE
running up at the moment, but sold off the
past few days
[12:27 pm] qwert : don’t like to hold
anything into earnings
[12:27 pm] apple : plenty of other ideas
[12:27 pm] candelas : PLXS
[12:27 pm] skydiver : yes apple – DLR was a
good call by Brent. Caught me sleeping at
the wheel
[12:27 pm] candelas : watching
[12:27 pm] joeytsa : it should give off a
trade tomorrow though
[12:28 pm] qwert : candles news on plxs?
[12:28 pm] doji : Watching NFLX
[12:29 pm] apple : downtrending all day
[12:29 pm] doji : Dir Kelly buys 5000 of
Plexus
[12:30 pm] candelas : passing not enough vol
PLXS
[12:30 pm] qwert : wow volume dried up on
plxs only 700 shares in 1 min
[12:31 pm] mikewd2 -: JEF L 10.04
[12:31 pm] candelas : it did
[12:33 pm] apple : AMZN hod[12:33 pm]
joeytsa : CBE pop
[12:33 pm] qwert : amzn run into black
friday?
[12:33 pm] joeytsa : got upgraded
[12:34 pm] joeytsa : looks bigger than it is
though
[12:35 pm] joeytsa : getting weird
print/chart on CBE
[12:35 pm] mikewd2 -: shark, on Worden TC2000
does the chart update lag a bit, seems slower
than etrade.
[12:36 pm] candelas : did he actually say
the stock market is safe to put ur money?
hmm
[12:36 pm] apple : that candle shot up over
1 pt[12:37 pm] candelas : oh that’s right
institutions need the money to stay so they
can play
[12:37 pm] joeytsa : yeah..but then it
disappeared then came back
[12:37 pm] skydiver : CBE — I see it too –
wow
[12:37 pm] joeytsa : also the last price was
53 and change, while the ticker alert was
showing over 54
[12:37 pm] joeytsa : abort mission
haha[12:37 pm] candelas : bad print
[12:38 pm] joeytsa : well i hope you all
have a great day…see you in the morning
[12:38 pm] doji : If NFLX loses 70….
[12:41 pm] doji : NFLX selling stocks at 1/3
if was buying only months ago
[12:42 pm] jsn13 : How many trades did u
guys do today? I really like the movements in
the market today….since this morning it was
already very nice….
[12:43 pm] qwert : i made 13 trades jsn13
[12:43 pm] taco : 9 in 9 out
[12:44 pm] jsn13 : Haha i made 7 trades, 5
wins, 1 BE and 1 lost….
[12:44 pm] candelas : just 7 trades today
for me all winners
[12:44 pm] taco : 4 small losses and 5
wins
[12:44 pm] jsn13 : good good….so qwert how
did u perform for the 13 trades?
[12:44 pm] doji : 23 trades, 22 winners, 1
b/e[12:44 pm] taco : nice doji[12:45 pm]
jsn13 : Wow that was fantabulous
doji….good one….
[12:45 pm] doji : And I posted all of them
here…
[12:45 pm] qwert : 10 w 1 L 2 be
[12:45 pm] jsn13 : Thanks…..u are like
part of TSA team….
[12:46 pm] candelas : was curiose on
yesterday 94 trades 71 good 23 losers
[12:46 pm] jsn13 : Haha hopefully all of us
here can one day have all winners….
[12:47 pm] jsn13 : Thanks to TSA for
providing such a good platform for all of
us….
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