[06:21 am] Ed : good morning traders
[06:21 am] Kris : good morning traders
[06:22 am] Kris : on the long side I’m
watching MAT, PGN, SHW, REGN and NAT.
[06:22 am] Kris : this morning I’m watching
for possible short trades in HSP, DNKN, BRCM,
TLEO, AGO, RBS and ETR
[06:26 am] Brent : good morning
[06:28 am] Mitch K: watching AFFY for short
early after mkt opens
[06:29 am] Mitch K: monitoring TLEO for
possible short but probably won’t move as
much as AFFY
[06:30 am] Mitch K: STJ spiking up this
morning and monitoring for short
[06:30 am] Mitch K: watching STJ today after
Friday
[06:31 am] Kris : AGO short
[06:32 am] Kris : BRCM short half
[06:32 am] Kris : NEM short
[06:32 am] Kris : NFLX short half
[06:32 am] Mitch K: watching CNQR for
short
[06:33 am] Kris : MOS short half
[06:35 am] Kris : JOYG short half
[06:35 am] Kris : out half NFLX short
[06:35 am] Mitch K: watching for short in
CTXS soon
[06:35 am] Mitch K: watching INHX for quick
short
[06:35 am] Mitch K: watching IVN for short
soon
[06:36 am] Mitch K: watching POT for bottom
to buy
[06:36 am] Mitch K: watching QCOM for bounce
soon
[06:37 am] Kris : looking for new lod in
NEM
[06:37 am] Mitch K: consider covering half of
AFFY short
[06:37 am] Mitch K: consider very small long
in VHC
[06:37 am] Mitch K: that’s 1 min chart on
CNQR on right now
[06:37 am] Mitch K: watching CNQR for short
here soon
[06:38 am] Kris : SPY trying for new
lod[06:38 am] Mitch K: monitoring IMAX for
short
[06:38 am] Mitch K: think in terms of
multiple trades in CNQR
[06:39 am] Kris : NFLX could find some
support around 65.00
[06:39 am] Kris : out half MOS short
[06:39 am] Mitch K: AFFY, consider
covering
[06:39 am] Mitch K: monitor AFFY for 2nd
helping on rebound, maybe 6.45 area
[06:40 am] Kris : out half AGO short
[06:40 am] Kris : out half JOYG short
[06:40 am] Mitch K: still monitoring POT,
QCOM for long, JOYG also,
[06:41 am] Mitch K: if you went for that
quick short in INHX, good place to cover
[06:41 am] Mitch K: SP pulling back a little
but buy on dip pattern is likely
[06:43 am] Mitch K: MOS bouncing too, same
category as POT
[06:43 am] Mitch K: POT bottoming
[06:43 am] Mitch K: surprised IVN hasn’t
turned over yet, red flag for this short
idea
[06:44 am] Mitch K: CNQR bouncing, cover
short, look for 2nd helping later, maybe 54
area
[06:44 am] Mitch K: monitoring DVN for
bounce
[06:45 am] Mitch K: also watching for 2nd
helping short on COG, missed first
[06:45 am] Mitch K: argh, missed MDT short,
forgot about it, monitor for later
[06:47 am] Mitch K: IMAX too strong to short,
lost interest in IVN too
[06:48 am] Kris : out half BRCM short
[06:48 am] Mitch K: always watching LVS when
you see WYNN move
[06:48 am] Mitch K: WYNN bouncing here,
[06:49 am] Mitch K: watching KMX for short
[06:51 am] Mitch K: don’t forget to monitor
AFFY for 2nd helping short on top of this
bounce, preferably around 6.50+
[06:51 am] Mitch K: LVS stronger than WYNN
[06:52 am] Kris : SPY hanging around near the
lows
[06:52 am] Mitch K: looking for bounce in
DVN
[06:54 am] Mitch K: WYNN and LVS bounces
fizzling
[06:57 am] Brent : SPY approaching hod[07:01
am] Mitch K: don’t wait for us to tell you
when to close a position, or open one
either,
[07:01 am] Mitch K: see what i meant by 2nd
helping short on CNQR, or multiple trades
[07:02 am] Mitch K: when see a very bullish
move, bigger move, you tend to see buyers
come in after a smaller drop, especially on
bigger name stock. so you take bits and
pieces of profits if you can manage multiple
stock positions
[07:03 am] Mitch K: LVS higher high
[07:04 am] Mitch K: shoot, forgot about
Angle’s List. I wrote her off earlier but
forgot to monitor. All part of managing
ideas, real estate on your screens
[07:05 am] Mitch K: CNQR more downside
likely
[07:05 am] Mitch K: LVS prob turning over
here
[07:06 am] Mitch K: never can get in sync
with SWC, anyone understand that stock?
[07:07 am] Mitch K: AFFY worth 1/3rd short
position again,
[07:07 am] Mitch K: watching NFLX
[07:12 am] Ed : monitor CTSH around 71.39 be
flexible
[07:13 am] Ed : strong so far
[07:14 am] Mitch K: looking for lower on
CNQR
[07:15 am] Mitch K: $50 would not be
surprising for CNQR, hard to tell
[07:17 am] Mitch K: anyone long VHC? hard to
handle VHC volatility with very low float
[07:18 am] Brent : watching WPRT for a
bounce, a little late to see
[07:19 am] Mitch K: CNQR broke below $51
[07:24 am] Mitch K: consider selling VHC
[07:25 am] Mitch K: watching JOYG for short
on this bounce here
[07:26 am] Mitch K: consider selling JOYG if
long
[07:28 am] Mitch K: all you need is one CNQR
a day, maybe two
[07:32 am] Ed : watching MELI
[07:36 am] Mitch K: don’t see $50 now on
CNQR
[07:39 am] Mitch K: LULU new low
[07:42 am] Mitch K: new low on ITC, watch
that closer now
[07:50 am] Ed : TIE alert thx rusty
[08:04 am] Ed : consider reducing MELI if u
got shares short
[08:22 am] Mitch K: Rumor: Illumina moves up
on renewed takeover chatter
[08:57 am] Brent : ILMN at hod[09:33 am]
Mitch K: buyout rumors are more advanced
trading technique
[09:34 am] Mitch K: it’s easy to sell short
too early a buyout rumor
[09:48 am] Ed : hod[09:48 am] Ed : NFLX
nod
[09:53 am] Mitch K: probably good place to
cover ILMN if short
[09:55 am] Brent : SPY new hod[09:55 am]
Mitch K: biggest move in NFLX in over a
month
[09:55 am] Mitch K: up that is
[10:27 am] Ed : TLEO hod[10:39 am] Ed : be
back in 30
[10:43 am] Brent : SPY approaching lod[11:06
am] Ed : back
[11:27 am] Mitch K: hard to tell if the SP
downgrade of Europe will hurt us. I think
everyone is used to that news
[12:07 pm] Ed : watching VRSK would like more
selling
[12:09 pm] Ed : pass VRSK not enough
selling
[12:59 pm] Mitch K: later guys & girls
[12:59 pm] Ed : have a great night
[01:00 pm] Brent : have a great night, see
you in the morning
|
[06:19 am] doji : Hi Joey… any idea about
RIMM? Has support at 16 and as you said
before, it could still move upwards,
especially now the futures are big up
[06:19 am] joeytsa : Mitch: on friday you
asked us to remind you about VHC
[06:20 am] joeytsa : doji:
daytrade/swing?
[06:21 am] doji : daytrading Joey
[06:21 am] joeytsa : might get a pop, not
sure
[06:22 am] doji : VHC moved Friday from 19.6
to 22.16… it could move to 24 today
[06:27 am] doji : Your TNA positions are
doing great Gary
[06:28 am] garyb : yes doji..going good!
🙂
[06:28 am] mikewd2 -: looks like oil services
are finally moving up, like WFT, etc[06:29
am] rusty : France President Sarkozy:
Complete agreement with Germany has been
reached, to disclose details in letter to EU
President Van Rompouy[06:33 am] joeytsa :
AMZN falling
[06:34 am] doji : AFFY S 6.46 from the
open
[06:35 am] rickdparsons : New here. Does
“half” mean enter into half your normal
position?
[06:35 am] joeytsa : yeah rick
[06:35 am] apple : yes rick
[06:36 am] joeytsa : AMZN closed gap
[06:36 am] mikewd2 -: JEF
[06:37 am] joeytsa : TLEO was upgraded
premarket, gapped and just made a double top?
will watch
[06:38 am] joeytsa : CF weak, look for some
bounce to short into
[06:39 am] joeytsa : GS strong off the gap
up
[06:40 am] joeytsa : ULTA looks weak
[06:40 am] mikewd2 -: all financials doing
well
[06:41 am] joeytsa : yeah mike, markets need
that
[06:42 am] joeytsa : tighten stop if you
took CF short
[06:42 am] apple : MK, CNQR very nice
[06:43 am] joeytsa : great call on CNQR
!!!!
[06:45 am] mikewd2 -: TNA L 46.17
[06:46 am] joeytsa : gold stocks with a
little life
[06:46 am] joeytsa : ABX,GG,NEM all look ok
for now
[06:47 am] mikewd2 -: out JEF 13.21
[06:47 am] joeytsa : watching KMX
[06:49 am] derns : Joey..KMX looks
interesting for 3 min fade short, correct?
[06:50 am] joeytsa : could be derns[06:50
am] mikewd2 -: i think so derns[06:50 am]
joeytsa : i was actually just following the
1m
[06:50 am] joeytsa : but looks good on the
2m and 3m
[06:51 am] doji : out 1/2 AFFY long
[06:52 am] derns : GMCR
[06:52 am] mikewd2 -: out TNA 46.47
[06:53 am] doji : GMCR
[06:53 am] observer : SLW new hod[06:53 am]
truck : KMX ,,,strong !
[06:53 am] joeytsa : yeah it is truck
[06:53 am] rusty : NDX Changes effective
TONIGHT JOYG Delete- 1.6mm shares to
sell
[06:54 am] rusty : PRGO Add – 1.4M shares to
buy
[06:54 am] Mitch K: thanks rusty
[06:56 am] doji : SPY approaching hod[06:57
am] joeytsa : needs a strong push to bust
thru 1263 area
[06:57 am] joeytsa : on the ES
[06:58 am] lightning : watching CRM for
possible short
[06:59 am] joeytsa : me 2 lightning, but
it’s been strong so far
[07:00 am] joeytsa : ag stocks all look the
same
[07:00 am] doji : ISM results?
[07:01 am] joeytsa : factory orders down
.4?
[07:01 am] joeytsa : tighten/trail stop on
KMX short
[07:01 am] storage : Mitch nice call 2nd
short CNQR
[07:02 am] joeytsa : really nice mitch[07:03
am] joeytsa : lower high on CNQR was a nice
short area
[07:03 am] scalpman : AFFY nearing 6.50
[07:03 am] doji : AFFY held when the SPY
reversed
[07:04 am] lightning : covering 1/2 KMS
short here at VWAP
[07:04 am] truck : trying to cover half @
30.80,KMX
[07:04 am] mikewd2 -: KMX should give up some
more
[07:06 am] doji : Anyone in AFFY S here?
[07:08 am] doji : VHC approaching hod[07:09
am] garyb : Watching MRK
[07:09 am] lightning : stopped on rest of
KMX short for decent gain.
[07:10 am] garyb : MRK looking good on 2
min
[07:10 am] doji : CNQR was an excellent
call, still weak
[07:10 am] garyb : in MRK 35.32 tight
stop
[07:11 am] doji : 50% retracement should be
around 51
[07:11 am] rusty : AMZN radar
[07:11 am] doji : RIMM closing the gap
[07:11 am] rusty : AMZN fast move up
[07:12 am] doji : SPY new hod[07:12 am]
garyb : Watch KFT
[07:13 am] garyb : KFT looking good on 2
min
[07:13 am] joeytsa : GOOG going for 630
[07:13 am] doji : R3 is at 71.64 Ed
[07:13 am] doji : RIMM moving with volume
[07:13 am] derns : RIMM
[07:14 am] joeytsa : CRM might have run out
of steam ?
[07:14 am] Ed : it’s never exact,
[07:14 am] garyb : in KFT 36.44
[07:15 am] garyb : nice profits in my
MRK!
[07:15 am] doji : I know Ed, just posting as
reference
[07:16 am] joeytsa : doji: what’s your
charting service?
[07:16 am] garyb : beautiful bounce in MRK,
wow
[07:18 am] khall : I’m long VHC
[07:18 am] joeytsa : i stayed out
mitch[07:19 am] rickdparsons : Question: do
you guys ever trade options in place of the
stocks?
[07:19 am] garyb : still holding
MRK….textbook V pattern! nice
[07:19 am] mikewd2 -: i have rick on puts,
when i can’t get shares of a stock
[07:19 am] mikewd2 -: or on swing trade ideas
from DSR
[07:20 am] doji : TOS Joey
[07:21 am] rickdparsons : what is “DSR” ?
[07:21 am] joeytsa : Daily Stock Report
[07:21 am] doji : Is your R3 in CTSH at
71.64?
[07:22 am] doji : CTQR long
[07:22 am] joeytsa : i don’t have R3/S3 on
my schwab..have to wait until i get
esignal[07:22 am] doji : CNQR sorry
[07:22 am] victor51 : Mitch Nice call but
missed cnqr.
[07:22 am] doji : My stop is below R3 in
CNQR
[07:22 am] rickdparsons : what is “R3”?
[07:22 am] doji : Resistance line on
Pivot
[07:23 am] doji : You have the pivot line
and the you have the support and resistance
levels from there
[07:23 am] rusty : SOHU hod[07:23 am]
observer : MK, that SWC seems to have a
pretty high Beta
[07:24 am] rickdparsons : Thanks, Doji…I
have TOS…dos TOS have that?
[07:24 am] doji : YEs Rick
[07:24 am] doji : It’s called
PivotPoints[07:24 am] joeytsa : 10yr Italian
yields drop to 6.14%
[07:25 am] rickdparsons : thanks,
doji…found it!
[07:27 am] observer : new hod, SLW
[07:29 am] joeytsa : Mitch: one of those a
week can make you 6 figures 🙂
[07:31 am] lightning : lol, if one can only
pick only winners like CNQR!
[07:31 am] rusty : FFIV hod[07:35 am]
anthonyb : TCBI broke out in huge order,
blew right through my buy limit order without
me lol[07:39 am] skydiver : Good morning –
in stealth mode today – didn’t sleep well
last nite, but 4 trades all winners so far
🙂
[07:40 am] doji : RIMM reversing
[07:41 am] mikewd2 -: stopped on KMX
[07:43 am] rusty : WFM worth watching for a
short swing at these levels
[07:44 am] rusty : no rush
[07:48 am] rusty : TIE alert
[07:48 am] rusty : sudden volume spike
[07:49 am] eyes : tie chatter
[07:49 am] doji : What scanner do you use
Rusty?
[07:49 am] skydiver : TIE – Take over
chatter
[07:49 am] eyes : TIE alert
[07:58 am] mhaus : HITK
[08:03 am] rickdparsons : As a newby, can
you guys give me ideas TOS setups.
[08:06 am] anthonyb : Rick, This is what
helped me. Keep a notepad open and write down
every call the mods make. Put a note next to
each as to who made the call. Go over your
charts afterwards and see the similarities i
n each trade
[08:08 am] anthonyb : before you know it,
rick, you’ll have them figured out.
[08:10 am] anthonyb : STAA still moving up
from its breakout @ 10ish
[08:12 am] truck : Thanks Ed for MELI…Plus
.57
[08:13 am] Ed : nice truck
[08:14 am] truck : MOS,,,and MELI
[08:15 am] aussie123 : TIE…puts 80 to 1
over calls
[08:15 am] rusty : ILMN alert
[08:16 am] rusty : takeover chatter
[08:19 am] mikewd2 -: SINA
[08:20 am] anthonyb : out STAA long for +.29
not bad for a 10 stock.
[08:21 am] bopphaley : TS offers Stochastic
fast and slow. Which one is being used in
the shared window? And, does anyone know if
there’s a way to duplicate the
Stochastic/Volume window in TS that Mitch
uses?
[08:22 am] mhaus : K=10, smoothing=8 and
D=7
[08:23 am] rickdparsons : Good question
bopphaley…this is my first day and I am
trying to setup TOS also…
[08:23 am] anthonyb : rick I think bophaley
is using tradestation[08:24 am] bopphaley :
One more question. They have stochastic Slow
indicator and SS Strategy. Yes. TS
[08:24 am] anthonyb : not thinkorswim[08:24
am] ghaziar : SFLY looks interesting for a
long.
[08:24 am] rickdparsons : ah…ok
[08:24 am] anthonyb : Rick, get used to
looking at charts like ILMN.
[08:25 am] mhaus : rick, IMHO, TOS is
expensive
[08:25 am] anthonyb : Look at volume rising
with price
[08:25 am] anthonyb : Mitch is the expert on
these type of trades
[08:28 am] mikewd2 -: anyone in LRN for long
swing?
[08:29 am] anthonyb : good looking daily
chart mike
[08:30 am] rickdparsons : mhaus: are you
referring to the commissions in TOS?
[08:31 am] mhaus : Yes, rick. The service
cost.
[08:31 am] anthonyb : rick, look at the
daily chart of LRN.
[08:32 am] rickdparsons : LRN…looking
now
[08:32 am] anthonyb : out EXPE long +.26
[08:32 am] mhaus : TradeStation and
Interactive Brokers are $0.005 per share with
a $1.00 minimum charge
[08:32 am] observer : beautiful chart, vol.
very tiny (LRN)
[08:33 am] anthonyb : actually mhaus,
sometimes they charge me less than $1.00
[08:35 am] anthonyb : But, I have one
commission for .47 on a 100 share trade
[08:35 am] garyb : Watching BA for bounce
[08:35 am] mhaus : how did you manage
that?
[08:35 am] doji : STJ
[08:35 am] rickdparsons : Well I started out
with TOS for option trades…If it works out
here, maybe I will switch…
[08:35 am] anthonyb : I don’t know, rebate
maybe?
[08:35 am] garyb : NKE may bounce too
[08:36 am] mhaus : could be
[08:36 am] anthonyb : I use TOS as well
Rick, but very little
[08:36 am] anthonyb : My swing trading
accounts are with TDameritrade, TOS
[08:37 am] mhaus : Rick, TOS charts are
good. Also, their Strategy Desk is good for
scanning stocks.
[08:38 am] garyb : NKE starting to
bounce..watching[08:38 am] rickdparsons :
Thanks for the feedback !!
[08:39 am] anthonyb : been watching that one
as well garyb[08:39 am] garyb : yes
anthonyb! Trying to find stocks on my own
today…fun!
[08:40 am] garyb : I am clicking over here
like a wild man!
[08:40 am] anthonyb : I was hoping it would
breakout. I had an order in over the high but
no go
[08:40 am] garyb : looks like it’s
struggling…I have a tight stop
[08:40 am] garyb : but in green now! 🙂
[08:40 am] anthonyb : I traded only
breakouts today
[08:41 am] anthonyb : except for EXPE
[08:41 am] garyb : I mean…look at 2 min on
NKE…looks good
[08:43 am] anthonyb : See you all tomorrow
gang have a great day
[08:43 am] Brent : you too anthonyb[08:45 am]
garyb : NKE on the move…if anyone took the
trade
[08:46 am] rickdparsons : Are there any
videos or PDF files on TSA that help first
timers with setting up etc.?
[08:46 am] rickdparsons : Or will that be on
the DVD’s I have coming in a few days?
[08:46 am] Brent : that’s on the DVD’s
rick
[08:47 am] derns : It seems to me the
markets are pricing in a lot of optimism for
this week’s EU meetings..I know I need to be
objective on stock prices, but difficult to
do.
[08:47 am] rickdparsons : Thanks, Brent!
[08:47 am] garyb : NKE…nice trade!
[08:49 am] garyb : watching TWX for
bounce
[08:50 am] delux : the displayed chart is
for trading?
[08:51 am] lisas : delux, sometimes display
projector freezes, so u hopefully have your
own charts
[08:51 am] garyb : anyone in NKE?
[08:51 am] derns : Garyb…I traded NKE
after you mentioned it..but simulation
only…thx for the idea
[08:53 am] garyb : no problem derns..it’s a
good one…..might be a little toppy here
[08:53 am] delux : Lisa i am using my chart
but i think the chart is displayed for
potential trades, isn’t it?
[08:53 am] garyb : stochastics turning
[08:55 am] derns : GMCR back to
60!…stochastics look to be turning down
tho[08:56 am] garyb : watching AMGN
[08:56 am] garyb : still going down
though
[08:57 am] derns : old mo stocks are
running..NFLX GMCR
[08:57 am] garyb : out of NKE….NICE
profit! 🙂
[09:00 am] mikeg : ilmn[09:01 am] joeytsa :
ILMN a nice chart
[09:05 am] doji : HFC swing from the DSR
dropping…
[09:07 am] rickdparsons : what do you guys
hope to scalp on each trade? 50 cents?
[09:07 am] mikewd2 -: 1%
[09:07 am] joeytsa : rick: most traders
shoot for a %
[09:08 am] mikewd2 -: also depends on the
type of trade
[09:08 am] rickdparsons : ok, thanks…that
helps!
[09:09 am] rickdparsons : do you place an
order to exit at your target or exit
manually?
[09:09 am] mikewd2 -: i usually enter the
stop and then watch
[09:10 am] mikewd2 -: once i move to
tradestation, will use the matrix and place
OCO or OSO orders immediately (i think i
will)
[09:10 am] garyb : yes it will
[09:10 am] garyb : it’s AWESOME mike!
[09:10 am] mikewd2 -: took the first two
trading videos last night, charting
tonight
[09:11 am] joeytsa : OCO is cool
[09:11 am] garyb : When I place an order it
automatically brackets the order for me…and
then I can move the prices around really
fast
[09:11 am] mikewd2 -: couldn’t figure the
charts out on my own, couldn’t zoom in and
get the price to scale
[09:11 am] rickdparsons : TOS has OCO
brackets in the Active Trader but haven’t
tried them
[09:11 am] garyb : Do you have a mouse with
the roller ball Mike?
[09:12 am] mikewd2 -: hope it’s as easy to
use and as powerful as TC2000
[09:12 am] doji : ILMN is very strong,
become a nice candidate for S
[09:13 am] garyb : Mike…you just have to
experiment with it…once you understand how
to work the charts it’s pretty cool
[09:14 am] mikewd2 -: looking forward to it,
going to trade in simulator this afternoon
[09:14 am] doji : If you see ILMN, it formed
two parabolic curves on the volume but the
price continue moving
[09:14 am] mikewd2 -: on etrade right now
[09:14 am] joeytsa : seems like everyone on
Fast Money is bullish
[09:14 am] garyb : yes that is the best!..I
trade live now and am still making some
errors, but I’m learning
[09:18 am] garyb : watching AMGN
again…might be a slow mover though
[09:23 am] doji : Did anyone shorted
ILMN?
[09:23 am] rickdparsons : Is there any
disadvantage to buying one very large screen
to manage charts as opposed to having 2 or 3
screens?
[09:23 am] lightning : Yes, I shorted at
31.60 and am have already closed out 2/3 of
the position
[09:23 am] lightning : (ILMN)
[09:24 am] joeytsa : rick: too large a
screen may be hard on the eyes..and you might
have to sit further away
[09:24 am] doji : Great, I shorted at 31.93,
closing position here
[09:24 am] lightning : great price
doji[09:24 am] joeytsa : nice trading
[09:25 am] doji : Thanks buddy
[09:25 am] lightning : I’m holding onto the
last part of ILN to see if it can drop to
close to VWAP
[09:25 am] joeytsa : i took it late..bucket
drop
[09:28 am] lightning : covered the rest of
ILMN at 30.60
[09:29 am] doji : Good job lightning
[09:29 am] joeytsa : great job lightning
[09:29 am] Ed : great job light
[09:30 am] jsn13 : Doji how do consistently
get such good price? do u get stopped out
often? sometimes it might be head fake….can
u briefly explain how u act at the top?
[09:33 am] joeytsa : HITK lod[09:33 am]
joeytsa : probably not a big trade if any
[09:34 am] doji : jsn13, I look at the
volume and the stochastcis and the chances
for are reversal was on my side, so I
prepared my limit order and also a tight
stop
[09:34 am] doji : on ILMN
[09:34 am] joeytsa : yeah, saw that big red
candle/vol in relation to the surrounding
ones
[09:35 am] joeytsa : on HITK
[09:35 am] doji : Now my eyes don’t move
from volume; it can be a nice price and a
nice setup but if volume is not there, I just
pass on
[09:35 am] apple : joey, i wanted to mention
that i watched the Lightspeed webinar on Peak
Performance – i took 13-1/2 pages of notes, I
must write smaller than you do. It was
fantastic. Much along the lines of Trading
In The Zone. Anyone interested, just go to
Lightspeed.com and click on the webinars.
Thanks for sharing – again, joey!
[09:36 am] joeytsa : glad you liked it
apple…i watched it again yesterday with my
notes in front of me
[09:36 am] doji : I spent two days reviewing
the presentation and took 10 pages of
writing. What a helpful presentation. Thanks
Joey
[09:37 am] doji : ILMN, having increase
volume… possible long
[09:37 am] joeytsa : i just think all
traders go through the same issues..whether
we admit it or not, always good to keep
things in perspective
[09:37 am] jsn13 : So doji did u get stop
out at 30 bucks area, and 31.5 area?
[09:37 am] doji : Support at 29.85
[09:38 am] doji : I place my exit order at
31…
[09:38 am] doji : and was filled in full
[09:38 am] joeytsa : very good trading
doji[09:38 am] doji : It was a 25%
retracement from 32
[09:39 am] doji : 31.5 is like over 35%
retracement
[09:40 am] doji : 31.5 is in fact 38%
retracement… remember 38%, 50%, 62%
retracements
[09:40 am] apple : fib
[09:40 am] doji : Yes Apple
[09:40 am] jsn13 : so my question is that
did u short at 30 bucks and 31.5 head
fakes?
[09:41 am] doji : Nope
[09:41 am] jsn13 : but why?
[09:42 am] doji : Simply because it was not
in my radar, I was working on something
else
[09:42 am] jsn13 : ok….
[09:42 am] joeytsa : jsn: both of those
areas would have been decent quick
scalps…but the overall trend was up
[09:42 am] jsn13 : but if u see it would it
fit what u want?
[09:44 am] doji : I’d have shorted it at 31
and then dropped it at 30 (support)
[09:45 am] jsn13 : i shorted at 30.5 and
covered at 29.7 area….
[09:45 am] doji : I wouldn’t have shorted at
31.5 because 31 become now support, so 32 was
3% over
[09:45 am] doji : That was very good
jns13
[09:45 am] rickdparsons : checking TOS
commissions…it is .015 cents a share but $5
min. So if more than 333 shares it is .015
each.
[09:45 am] joeytsa : good job jsn !!!
[09:46 am] doji : But remember, put the odds
in your favor, the higher it moves, the
harder it drops
[09:46 am] doji : ILMN
[09:46 am] jsn13 : i see ur point
doji…..thanks a lot…..it definitely helps
me….
[09:46 am] joeytsa : jsn: you also have to
determine the type of trader you are, or the
trades you want to focus on….
[09:47 am] victor51 : Brent and Mitch,
Missed CNQR but enjoying ILMN short.
Thanks
[09:47 am] joeytsa : you can try to catch
every move, or look to play the reversals
only, or the pullbacks
[09:47 am] lisas : jsn, I also look for
resistance levels on higher time frame, like
daily, 60 min
[09:48 am] jsn13 : how did u guys trade CNQR
juz now? thanks lisas….
[09:49 am] jsn13 : Mind sharing ur prices
here?
[09:50 am] lisas : jsn, I missed it myself,
late morning for me today
[09:51 am] rickdparsons : jsn…I am new
also. I understand you can get a DVD set
from TSA that explains a lot of what is going
on. I am waiting for mine…
[09:52 am] jsn13 : I got Wizard training
course and trade with the pros and i already
watched it….but things got improved
here…some settings and indicators are diff
here….
[09:53 am] mikewd2 -: garyb, you still have
your TNA long?
[09:54 am] mhaus : watching N
[09:54 am] dan : Brent, your thought on
BRCM?
[09:55 am] doji : I don’t see anything in
BRCM Dan at this point
[09:55 am] doji : personally
[09:55 am] mikewd2 -: GS states RIMM worth
$18 for sum of the parts
[09:55 am] Brent : Don’t see anything
interesting in BRCM dan[10:01 am] doji : MW
Article: Why the Euro will survive and
thrive… know all these analysis are
positive on the Euro
[10:01 am] sfarrill : viab[10:02 am]
lightning : nice sfarrill. VIAB could be
nice
[10:02 am] doji : FLX approaching R3
[10:03 am] doji : 72.13
[10:03 am] doji : with high volume
[10:03 am] jsn13 : r u referring to NFLX?
[10:04 am] doji : YEs sorry NFLX
[10:05 am] doji : ILMN weak rebound
[10:11 am] jsn13 : Doji may i know how did u
do on CNQR short in the morning?
[10:13 am] doji : Shorted at 54,62 and
closed it at 53.03
[10:14 am] doji : shorted again at 53.73 and
close it at 51.53
[10:14 am] doji : Anyone shorted ILMN on the
weak rebound?
[10:16 am] lightning : I did not, I was
looking for a long opportunity on ILMN
[10:17 am] doji : Shorted at 29.87, when it
broke below the previous low
[10:17 am] lightning : that was a good move
doji[10:17 am] jsn13 : The reason for 2nd
helping on CNQR was? i only shorted at 54 and
covered at 53.3 area…
[10:18 am] doji : it didn’t break the
previous resistance
[10:18 am] jsn13 : Of 54 bucks? did u manage
ur trade by moving the stop loss?
[10:18 am] doji : Yes
[10:19 am] doji : Always have my stop loss
along with my S/L order so I just slide it as
the stocks move
[10:19 am] jsn13 : So even without
Stochastic at 80 area, u feel confident….am
i right?
[10:21 am] doji : Yes, not necessarily if
the potential gap is over 3%. The stock
gapped from Friday 47 to today 55 and gave a
nice short at 5 minutes after the open
[10:21 am] doji : then the second leg short
was around 9:56
[10:22 am] doji : at 55 it already gapped
17%
[10:23 am] jsn13 : Wow u offered me such a
great insights and perspectives…..Thanks
doji…..u r really the man….now that i
know why u always got such great prices to
limit ur risk…..
[10:24 am] doji : Better you do paper trade
for at least 3 months and see the action
here… always listen to Mitch, Kris, Brent
and Ed
[10:24 am] bopphaley : Is there a way to
copy this chat to a word doc so I can’ delete
parts and use the learning parts? I’m
looking so many different places that I can’t
catch everything but going back and trying to
find it is cumbersome in this window.
Thanks.
[10:24 am] doji : and the rest of the
team
[10:27 am] delux : hod for what?
[10:27 am] mikewd2 -: bopphaley: you can
right click in the chat window and copy all
the chat and paste into word or other doc.
[10:27 am] doji : hod=high of the day
[10:27 am] doji : low = low of the day
[10:27 am] delux : then long or short?
[10:28 am] doji : neither
[10:29 am] joeytsa : TLEO making a nice
little move
[10:30 am] mikewd2 -: looked like lots of the
computer services have been moving up
today
[10:30 am] joeytsa : nice catch Ed
[10:31 am] Ed : been strong
[10:32 am] rusty : QIHU radar
[10:32 am] rusty : sudden volume
[10:32 am] joeytsa : nice move though..broke
thru some res with a blast of volume
[10:33 am] mikewd2 -: tried to short TLEO but
missed it
[10:34 am] joeytsa : yeah mike i missed it
too
[10:35 am] mikewd2 -: TLEO, could be takeover
target
[10:36 am] doji : Me too, I was expecting it
to move a little higher
[10:42 am] doji : Aggh missed ILMN short at
30.5
[10:42 am] doji : SPY dropping hard!
[10:42 am] mikewd2 -: markets falling
[10:43 am] doji : IMF OKs 2.2 billion euros
for Greece
[10:45 am] joeytsa : Obama getting ready to
talk about taxes..think they are headed up
[10:45 am] doji : If the IMF is Ok, why is
the market dropping? They thought the $$
would be lower?
[10:46 am] lightning : SP threatening to
lower the ratings of Germany, France and
three other Euro countries.
[10:46 am] joeytsa : just in time for the
meeting this week
[10:46 am] joeytsa : market is like a puppet
on a string
[10:47 am] doji : Remember the market is the
most chaotic place to be
[10:50 am] doji : SPY new lod[10:52 am]
richard : lisas – where are the good TS
tutorials you mentioned last week?
[10:55 am] lisas : richard, education tab,
University link has quick tutorials, go to
basics for platform use, they also have some
on other topics.
[10:55 am] lisas :
http://www.tradestation.com/education/univers
ity/school-of-tradestation-basics
[10:55 am] apple : LULU lod[10:56 am] lisas
: Here are longer webcasts that go more in
depth:
http://www.tradestation.com/education/events/
on-demand-webcasts/tradestation-basics/gettin
g-started
[10:57 am] lisas : That is under
education/events. They also have live classes
you can sign up for so you can ask
questions
[11:01 am] doji : RIMM
[11:01 am] Mitch K: what’s the news driving
mkt down?
[11:01 am] mikewd2 -: not sure
[11:01 am] lightning : Market weakens on
talk of potential ratings actions in euro
zone. The averages remain higher but off
their best levels. The market has given up
roughly half of its gains from earlier. The
retreat is being attributed to a report from
the Financial Times that says S&P has
warned Germany and five other countries in
the euro zone with AAA ratings that they face
the risk of a downgrade due to both economic
weakness and political turmoil. Today’s
market move was tenuous to begin with, since
the highs came at the open and the market has
moved in a narrow range ever since. At last
look, the Dow was up 71 points, the Nasdaq
was up 30 points, and the S&P was up 12
points. :theflyonthewall.com
[11:01 am] doji : IMF approved 2.2 billion
euros for Greece
[11:01 am] mikewd2 -: s&P warns of Euro
Nations Downgrade.
[11:01 am] docsmith : downgrade by S&P
of europe[11:02 am] garyb : S&P Warns
Germany, 5 Other Euro Zone Nations With
Triple-A Credit Ratings That Their Ratings
Are at Risk for Downgrade: FT (Story
developing)
[11:02 am] Mitch K: thanks gary
[11:02 am] docsmith : Like they didn’t know
Europe was in trouble?
[11:09 am] doji : TZA hod[11:09 am] garyb :
I’m in TZA…you doji?
[11:09 am] joeytsa : Weiss already has most
of europe graded below C
[11:10 am] doji : No Gary
[11:10 am] mikewd2 -: Obama talking about tax
cut extensions
[11:11 am] Mitch K: Obama on TV now, saying
traders are in 1%, must give to 99%
[11:11 am] joeytsa : lots of banks more
vulnerable than most believe
[11:25 am] joeytsa : 2012 will sure be
interesting
[11:26 am] qwert : bye everybody awesome day
see ya in the am
[11:27 am] Ed : have fun qwert[11:27 am]
Brent : have a good night qwert[11:28 am]
joeytsa : i agree Mitch…might lead to a
run in the US$??
[11:28 am] joeytsa : i can’t figure the news
out
[11:29 am] joeytsa : new quote taped to my
monitor ” Sell when you can, not when you
have to “
[11:29 am] lisas : good one joey
[11:30 am] apple : i love it … should have
done that last week!
[11:42 am] joeytsa : ARBA running a bit
[11:42 am] lightning : watching ARBA and
TLEO
[11:43 am] apple : ARBA looks good
[11:51 am] joeytsa : stopped at be..oh
well
[11:53 am] joeytsa : AMZN moving down on
news
[11:54 am] lightning : S ARBA
[11:55 am] doji : S ARBA 34.09
[11:57 am] lightning : watching IMAX
[11:57 am] garyb : SPY bouncing
[11:59 am] doji : If work, ARBA target
should be around 33.6
[11:59 am] mikewd2 -: out TNA 1% gain
[12:00 pm] mikewd2 -: i shorted ARBA 34.06
[12:01 pm] mikewd2 -: stopped ARBA
[12:01 pm] garyb : good one Mike!
[12:01 pm] doji : aggg stopped ARBA…
[12:01 pm] joeytsa : nice mike
[12:02 pm] lightning : glad the stops work!
Stopped ARBA
[12:02 pm] chris1 : stopped arba …
grrrr[12:02 pm] joeytsa : glad i didn’t go
for a 2nd try
[12:03 pm] mikewd2 -: up nice this morning,
have let it get away this afternoon.
[12:03 pm] garyb : no…that you got 1% on
TNA mike
[12:03 pm] doji : IMAX
[12:03 pm] mikewd2 -: my only win this
afternoon
[12:04 pm] doji : Did you short IMAX
lightning?
[12:04 pm] lightning : no doji, I missed the
IMAX short.
[12:04 pm] mikewd2 -: WFT hod[12:04 pm]
lightning : did you get IMAX doji[12:06 pm]
michael : S ARBA @ 34.45, stop 34.6
[12:06 pm] doji : Nope, I got ARBA and
lost…
[12:06 pm] lightning : you and me both.
[12:06 pm] doji : That is ok, lost only
$100… minimum loses
[12:07 pm] doji : SPY new lod[12:09 pm]
lightning : that ARBA. Now under 34
[12:09 pm] doji : Good entry in ARBA
Michael, I should have been more patience
with mine
[12:09 pm] michael : I blew the exit, out at
34.10
[12:09 pm] joeytsa : better than a loss
[12:10 pm] apple : agree
[12:10 pm] michael : true
[12:10 pm] doji : The hard part is not the
entry but the exit order… ARBA has support
at 33.5
[12:10 pm] michael : you hit ’em doji, I’m
always out early
[12:11 pm] doji : Loss is part of the game;
you have to learn something. What I learnt?
Well, I have to be more patient
[12:11 pm] joeytsa : same here
doji…especially middle of the day for
me…
[12:12 pm] apple : patience is critical…
my lack of patience last week, cost me…
[12:12 pm] joeytsa : i re-learned that, the
past couple of weeks i have been re-reading
the best trading book ever written, from the
late 90’s early 2000’s
[12:12 pm] doji : What is that book Joey?
[12:12 pm] apple : which one?
[12:13 pm] joeytsa : it’s called ” My
Trading Journal” written by Joeytsa 🙂
[12:13 pm] joeytsa : older trades, but i
learned a few things about myself..which
sadly i knew
[12:13 pm] doji : I have mine also and when
I look at it, I cannot believe all the silly
mistakes I did in the past
[12:15 pm] khall : So, I’m thinking that we
may get a little pullback here in the next
few days
[12:15 pm] apple : SPY lod[12:15 pm] doji :
Here it comes the selling
[12:15 pm] joeytsa : ES below 1230
[12:15 pm] joeytsa : 1250
[12:16 pm] joeytsa : SINA has been a bleeder
all day
[12:16 pm] doji : I hate the foolishness
from Market Watch columnist… one minute
they same something and the minute later
something different!
[12:16 pm] joeytsa : eye on GS to see if it
takes out the lows
[12:16 pm] apple : two-faced
[12:17 pm] joeytsa : doji: news is just to
create volume sometimes
[12:17 pm] neel : All Euro Zone nation on
S&P credit watch -Negative
[12:17 pm] apple : illusion
[12:18 pm] doji : Yes, I fully understand
their games, what I don’t understand is that
these guys don’t have the minimum respect for
themselves, their credibility is zero
[12:19 pm] apple : exactly
[12:19 pm] neel : S&P Announcement at
4pm
[12:19 pm] joeytsa : AAPL lod[12:20 pm]
joeytsa : of course it’s after hours 🙂
[12:24 pm] doji : ARBA finally gave 33.6….
hahaha that green candle at 3:00PM killed us
Lightning
[12:24 pm] joeytsa : yeah, i was out long b4
that big green candle
[12:28 pm] doji : Ok guys, I got go, see you
tomorrow!
[12:29 pm] Ed : see ya doji[12:30 pm] mhaus
: TLEO
[12:41 pm] neel : QIHU
[12:42 pm] mikeg : jva[12:42 pm] delux : i
am paper trading. my stop was not filled
though the price over passed it. why?
[12:44 pm] joeytsa : not sure on that
delux[12:47 pm] apple : thx MK, K, B, E and
everyone. Gotta go, have a wonderful
evening. see you all tomorrow.
[12:47 pm] Ed : see ya apple
[12:48 pm] Brent : was it a stop limit or
stop market delux?
[12:48 pm] Brent : not sure why it would
matter on SIM mode, but it might
[12:48 pm] joeytsa : apparently pelosi has a
ton of dirt on newt…waiting for the right
time to divulge
[12:48 pm] delux : i am not sure Brent
[12:50 pm] Brent : some platforms you don’t
have an option of choosing stop limit, but if
you can, you want to be using stop market
[12:51 pm] Brent : not sure why yours didn’t
fill on SIM mode though
[12:51 pm] delux : thanks Brent
[12:54 pm] joeytsa : might be some big moves
coming on any downgrades next few minutes
[01:00 pm] lisas : Thanks TSA and all, have
a great nite!
[01:14 pm] delux : what are the long wicks
on SPY candles? are these real price
moves?
[01:15 pm] joeytsa : lots of SPY action last
5mins
[01:15 pm] joeytsa : over 13M shares
[01:17 pm] delux : are they affect on
tomorrow’s market?
[01:17 pm] joeytsa : honestly not sure, it’s
happened a few times recently
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