[06:06 am] Mitch K: hi boys and girls
[06:06 am] Mitch K: should have good trading
action today, expecting volatility
[06:14 am] Ed : good morning traders
[06:20 am] Kris : good morning traders
[06:21 am] Kris : MT, SINA, BMO, CROX and CWH
as possible shorts
[06:21 am] Kris : Today I’m watching ABV,
KMP, VZ, URI, CVC and RIMM as possible
longs
[06:22 am] Brent : Good morning
[06:23 am] Kris : MT and SINA are longs
[06:23 am] Kris : sorry guys
[06:23 am] Kris : URI, CVC and RIMM are
shorts
[06:24 am] Kris : RIMM long was definitely a
rumor
[06:28 am] Kris : 2 minutes, time to close
out the week!
[06:30 am] Kris : ITMN short half
[06:31 am] Kris : VMED short half
[06:32 am] Kris : DECK short half
[06:33 am] Kris : LRCX short half
[06:33 am] Kris : out half ITMN short
[06:34 am] Kris : out another 1/4 ITMN
[06:34 am] Kris : PAY short half
[06:34 am] Kris : watching RIMM to enter a
small short around 13.80
[06:34 am] Mitch K: INHX worth small short
[06:36 am] Kris : CVC short half
[06:37 am] Kris : SPY resistance around
122.80
[06:37 am] Mitch K: stop above 9 INHC
[06:41 am] Ed : watching CMI
[06:42 am] Mitch K: reversing INHX long
[06:43 am] Kris : short second half VMED
[06:43 am] Mitch K: too late at this price,
try 31.15
[06:43 am] Mitch K: WDC topping
[06:44 am] Kris : SPY testing lod[06:44 am]
Mitch K: HANS toppy
[06:44 am] Mitch K: RHT toppy
[06:46 am] Brent : NFLX consolidating at
support here
[06:46 am] Brent : watching SINA for a
bounce
[06:47 am] Kris : ITMN still making new
lows
[06:47 am] Kris : SPY new lod, see if we can
get some follow through to the short side,
careful taking longs right now.
[06:48 am] Ed : reduce CMI
[06:48 am] Kris : RIMM short 1/4 position,
saving 3 bullets
[06:49 am] Mitch K: consider reducing long in
INHX
[06:53 am] Kris : out all ITMN short
[06:55 am] Ed : ANR watching
[06:55 am] Kris : CVC testing lod[06:56 am]
Ed : AGCO alert
[06:56 am] Mitch K: AGCO moving
[06:56 am] Mitch K: quick short in ANR
soon
[06:58 am] Kris : looks like SPY might make a
lower high here, be ready for a test of the
lows
[07:00 am] Kris : PAY short second half
[07:02 am] Ed : reduce AGCO
[07:02 am] Mitch K: another helping on CMI
short soon
[07:04 am] Mitch K: note buying in indexes
[07:05 am] Ed : buy rating issued on CMI
[07:06 am] Kris : out half CVC short
[07:07 am] Kris : watching TZA for a long
[07:08 am] Ed : CAT watching for potential
short
[07:08 am] Kris : short another 1/4 RIMM
[07:09 am] Mitch K: new high on INHX
[07:09 am] Mitch K: trending just like ATHN
yesterday
[07:12 am] Kris : TZA long half position
[07:12 am] Mitch K: looking for quick short
on CSTR
[07:17 am] Brent : Consider reducing SINA if
long
[07:21 am] Kris : TZA long second half
[07:23 am] Mitch K: AGCO 2nd helping short
here
[07:27 am] Kris : out half TZA long
[07:28 am] Mitch K: if INHX holds this 9.50
level and goes sideways for a while, watch
for a long entry
[07:30 am] Mitch K: if it breaks down much
below, would not be good long
[07:30 am] Mitch K: watching CCI for
bottom
[07:31 am] Brent : consider closing or
reducing more SINA here
[07:31 am] Ed : if u got CAT short would
reduce and protect
[07:31 am] Mitch K: good place to cover AGCO
2nd helping short
[07:44 am] Mitch K: may not look like much on
the left chart on INHX but that move was 65
cents on a $9.50 stock, almost 7%; still
healthy acting stock
[07:54 am] Ed : watching JBHT
[07:56 am] Ed : would like another push
upward, and more vol[07:57 am] Mitch K:
important if INHX makes higher high above
10.44
[07:59 am] Ed : reduce more CAT
[08:00 am] Ed : for open
[08:00 am] Ed : ZNGA extended to 5min
[08:11 am] Mitch K: higher high on INHX
[08:14 am] Brent : ERTS starting to get
interesting. Watching for a bounce
[08:17 am] Mitch K: MIGHT BE WORTH SMALL,
SMALL LONG in ZNGA….. small, did i say
small?
[08:19 am] Mitch K: i suppose you want me to
call this one too…
[08:19 am] Mitch K: you cant look at an IPO
the way we looked at ATHN yesterday or INHX
today
[08:20 am] Brent : watching LNKD for a
bounce, would like to see it drop more
[08:20 am] Mitch K: one of the only times i
would say its ok to look at the money and
sell……. because there are no indicators
yet, not enough history
[08:20 am] Mitch K: so it’s trading action
[08:20 am] Mitch K: the mindset is different,
its like get whatever you can type of
thinking on IPO
[08:21 am] Mitch K: again, you sell in
increments
[08:21 am] Mitch K: but be flexible, not like
“Mitch said 10.20 so I’m not selling” not
that way, ok?
[08:21 am] Mitch K: it’s the trading action
you watch now
[08:21 am] Mitch K: still strong, i would
look for over 10.20
[08:22 am] Mitch K: limit order 10+
[08:22 am] Mitch K: this is like the Old
Faithful geyser, erupting,
[08:22 am] Mitch K: throw limit order 9.95
[08:22 am] Mitch K: worth selling some
here
[08:23 am] Mitch K: can’t use slow platform
for ipos, need something like Lightspeed or
Ninja Trader
[08:23 am] Mitch K: hey qwert, that’s over 4%
profit
[08:23 am] Mitch K: i don’t like it now
[08:23 am] Mitch K: yeah, sell all long in
ZNGA
[08:24 am] Brent : consider reducing ERTS if
long
[08:24 am] Mitch K: lol, i don’t even trust a
consolidation on ZNGA
[08:24 am] Mitch K: sell ZNGA
[08:24 am] Mitch K: yeah, i don’t care for
it, don’t have patience enough to deal with
this, happy with 50 cents
[08:25 am] Mitch K: good job guys, don’t
stress if it goes to 10.40, i don’t care for
it now
[08:26 am] Mitch K: another problem i see, is
it is priced at $10 and it is trading at 10,
no premium,
[08:26 am] Mitch K: there is so much bad
press on ZNGA, it’s not like a brokerage firm
can recommend it, they have to wait for first
quarter earnings at least.
[08:26 am] Mitch K: they have to wait after
the quiet period
[08:27 am] Mitch K: making sense to you?
[08:27 am] Mitch K: you want an IPO to be HOT
HOT HOT, and then drop drop drop, then the
odds are good for you on that FIRST BIG
DROP
[08:28 am] Mitch K: now let’s look at the
daily on INHX
[08:28 am] Mitch K: or today’s INHX
[08:28 am] Mitch K: right there is some
decent odds in itself
[08:28 am] Mitch K: see INHX on left, drop
from 13 to under $7 right?
[08:28 am] Mitch K: this is totally different
situation than yesterdays ATHN
[08:29 am] Mitch K: high of 16+ to around
8.40? interesting. half of equity came out
of it last 2 weeks. that is interesting for
a long scalp esp when today had most of the
drop, a blowoff drop
[08:30 am] Mitch K: i suggest not to play
with ZNGA now, the best odds play is over
[08:31 am] Brent : consider reducing LNKD
[08:32 am] Mitch K: i don’t see INHX as a
swing trade yet derns, takes a while for
stock to digest a drop like that, 3-4 days
usually
[08:32 am] Mitch K: over the long term, it’s
more important to know why, to learn.
[08:32 am] Mitch K: this Trading Room isn’t
just about stock ideas, it is also about
learning why
[08:35 am] Mitch K: indexes dropping hard
[08:37 am] Mitch K: if you play around with
something like ZNGA now, you get frustrated
trying to squeeze a little money out of it.
then you get frazzled and rattled and then
miss other good ideas. you ever done
that?
[08:38 am] Mitch K: lol, you girls are too
funny
[08:39 am] Mitch K: you basically are trying
to keep fresh, alert, good state of mind,
sort of a “ready position” like in sports
[08:40 am] Mitch K: and you can’t be fresh if
you are caught up playing with ideas that had
little profit potential and low odds,
comprende?
[08:45 am] Mitch K: see this flat spot here
in INHX, usually heads up to higher high on
this chart
[08:45 am] Mitch K: sort of like ATHN
yesterday but ATHN was much stronger
[08:48 am] Mitch K: watching AGCO for long
[08:48 am] Mitch K: watching CTXS for long
here
[08:49 am] Mitch K: CTXS is more of a
quickie
[08:49 am] Mitch K: watching LPS drop
[08:50 am] Kris : test
[08:51 am] Kris : thanks apple
[08:51 am] Mitch K: don’t get in hurry to buy
LPS
[08:57 am] Brent : SPY new lod[08:58 am] Kris
: is anyone still long TZA?
[08:58 am] Mitch K: i would think low $15 is
interesting support for LPS
[08:59 am] Kris : I would reduce a little if
you’re day trading it new trader, move up
your stop and start looking at TNA
[08:59 am] Kris : TNA has support around
41.60
[08:59 am] Mitch K: doesn’t look like it
will
[08:59 am] Mitch K: getting more interesting
but like to see if 15 holds
[08:59 am] Mitch K: new lows today on
indexes
[08:59 am] Mitch K: still no hurry yet on
LPS
[09:00 am] Kris : should get a tradeable
bounce soon but wait for a hold of support
area.
[09:00 am] Mitch K: worth a little long here
LPS 15.10 area
[09:01 am] Kris : LPS nice one mitch[09:01
am] Kris : money money money money[09:01 am]
Mitch K: blind squirrel gets lucky
[09:01 am] Mitch K: could get 15.30 on a
quick pullback on LPS
[09:02 am] Mitch K: looking for over 16
[09:02 am] Mitch K: we are talking about LPS
now
[09:03 am] Mitch K: don’t go long LPS now,
too late
[09:03 am] Mitch K: probably smart to sell
LPS
[09:04 am] Ed : nice call Mitch
[09:04 am] Kris : TNA long half
[09:04 am] Mitch K: cancel that 15.30 buy
limit order you might have
[09:04 am] Mitch K: it’s pretty much over on
LPS, way i look at it
[09:05 am] Mitch K: be on alert for something
else but not a hurry to jump in something
else, just be on alert, steady state of
mind
[09:05 am] Mitch K: SPY at bottom
[09:05 am] Mitch K: SPY trying to bounce,
will help long scalps
[09:05 am] Mitch K: what do you do when its
over?
[09:06 am] Mitch K: although LPS is
independent of the indexes. LPS has news on
its own that drives it
[09:07 am] Mitch K: now what you do is
monitor LPS for a top to short for advanced
traders, small position, did I say small on
this? I’d be interested in mid 16s IF it
gets there, which is doubtful
[09:12 am] Kris : LPS b-b-b-b-beautiful
[09:12 am] Kris : out half TNA long
[09:13 am] Mitch K: nobody is giving
themselves a hard time if you no longer long
right?
[09:13 am] Mitch K: remember, preserve the
state of mind
[09:15 am] Mitch K: and i start with small
initial short. if i don’t get it, no big
deal; looks like we won’t get that price
[09:15 am] Mitch K: ok, now this pullback
last 2 candles on the LPS, if you didn’t
short, what I do is try to short on a little
rebound, maybe at 16 area
[09:16 am] Mitch K: but we do stupid things
too, just not as often
[09:16 am] Mitch K: ok, small initial short,
move up limit order above 16 on LPS short
idea
[09:16 am] Mitch K: so i am willing to not do
a trade if i don’t get the price. that’s the
difference between new traders and more
experienced ones.
[09:17 am] Mitch K: LPS prob gets to 16.10
[09:22 am] Mitch K: ok, if you haven’t
shorted LPS, it’s a NO GO
[09:27 am] Brent : SPY testing lod[09:34 am]
Ed : watching WPI for more selling
[09:40 am] Mitch K: Good one my dear
Watson
[10:16 am] Mitch K: we have been getting some
real doozies with these pharmaceuticals last
few days, is it three now?
[10:16 am] Mitch K: WPI, ATHN, INHX
[10:22 am] Ed : he always gets the blame
[10:22 am] Mitch K: but if it doesn’t work
out, blame Ed
[10:22 am] Mitch K: Ed likes SINA on daily
chart
[10:22 am] Mitch K: for swing trade long
[10:22 am] Mitch K: i like it too, i see $60
next week if market stays neutral to
bullish
[11:25 am] Brent : SHLD getting some
increasing volume
[11:43 am] Mitch K: SHLD interesting here
long
[12:36 pm] Kris : best setups will have
sustained or increasing volume
[12:36 pm] Kris : email me vilazio and I’ll
send you some more info
[12:36 pm] Kris : when we say “watching’ that
is usually for a price trend reversal
vilazio.
[12:37 pm] Kris :
[email protected]
[12:49 pm] Kris : PETM going on a run
[12:50 pm] Kris : could give a tradable short
reversal soon
|
[06:06 am] mikewd2 -: all i want for Xmas, is
another ATHN trade
[06:07 am] mikewd2 -: Inhibitex drops 29%
after Pharmasset amends hepatitis C trial
[06:08 am] joeytsa : ahhh, i saw the VRUS
news
[06:09 am] joeytsa : gap down :
INHX,VRUS,SINA,RIMM,
[06:09 am] qwert : idix gapped down on the
same news as inhx[06:10 am] mikewd2 -: less
than 7 dollar stock qwert[06:10 am] joeytsa
: gap up:ADBE,AMZN,ATHN,GOLD,GLNG[06:11 am]
mikewd2 -: also RRR joey
[06:11 am] joeytsa : acquisition on RRR
[06:13 am] doji : Hi Joey, RIMM will be
interesting today, hoping for a pop at the
open and then short
[06:13 am] vilazio : I have one question.
ATHN has small candle bars but why the prices
are moving big?
[06:13 am] doji : will wait for a moment
after the market opens. It opened high
yesterday and then pulled back
[06:14 am] qwert : uri up as well as rrr and
they are the ones doing the acquisition
[06:15 am] doji : I am also monitoring ADBE
for short; it was downgraded today
[06:15 am] joeytsa : yeah doji…RIMM is a
mess
[06:16 am] doji : Unless obviously want to
mess up with the “short” paty and acquires
RIMM!
[06:16 am] doji : a competitor I mean, to
acquire RIMM
[06:16 am] storage : Any comments on INHX
[06:16 am] mikewd2 -: yeah, doesn’t RIMM have
a huge amount of cash
[06:17 am] doji : Remember, ZNGA trades
today!
[06:17 am] doji : $10 is the IPO
[06:17 am] rusty : INHX somewhat different
drug than VRUS that being said it was up
mostly on speculation
[06:18 am] mikewd2 -: speculation about a
buyout for INHX?
[06:18 am] joeytsa : yeah doji, ZNGA will be
fun to watch at least
[06:19 am] rusty : spec about the drug
itself and given VRUS a takeout – but hard to
spec on takeout when drug still in trials
[06:19 am] mikewd2 -: seems like INHX would
head back to the $4’s
[06:19 am] mikewd2 -: understand, thanks
rusty
[06:20 am] rusty :
http://www.streetinsider.com/rating_history.p
hp?q=rimm RIMM analysts
[06:20 am] joeytsa : the SPY looks like 1
giant triangle to me
[06:21 am] derns : hey Joey…what time
frame are you looking at SPY on to form a
triangle?
[06:23 am] rusty : CNBC was pumping RIMM not
2 weeks ago, now hates it
[06:24 am] truck : derns,,just a rumor about
Kris going long RIMM
[06:24 am] joeytsa : RIMM is a mess, but
that doesn’t mean you can’t buy it for a
quick pop 🙂
[06:26 am] joeytsa : will also be watching
CRM,CVX from previous days moves
[06:27 am] rusty : Quadruple witching
today
[06:27 am] pandozzi : what a rush on that
athn trade yesterday
[06:27 am] mikewd2 -: apple you still holding
ATHN?
[06:27 am] joeytsa : you had a nice position
on too
[06:28 am] mikewd2 -: INHX bouncing up
[06:28 am] pandozzi : joey were u in on
it
[06:28 am] doji : RIMM dropping more
[06:28 am] joeytsa : i was in on the short,
just after the news broke
[06:29 am] rusty : ISTA hostile takeover
[06:29 am] joeytsa : then i left, came back
as it was bouncing up…missed most
though..still grabbed 3pts
[06:29 am] pandozzi : nice….love the play
by play from mitch[06:29 am] joeytsa : it
was great…INHX up from $7
[06:31 am] joeytsa : what the heck happened
to ROST?? did they split or really
disappoint
[06:32 am] rusty : Poor Think Equity..they
upgraded INHX this am with target 20
[06:35 am] rusty : ROST split
[06:36 am] joeytsa : thanks rusty, that’s
what i figured..looked like too easy math for
me haha[06:36 am] rusty : 2:1
[06:38 am] rusty : INHX vs VRUS side by side
comparison for anyone who cares
[06:38 am] doji : INHX Mitch
[06:39 am] joeytsa : trail/tighten stop on
SINA if short
[06:40 am] eyes : CMi[06:40 am] skydiver :
WDC – rumors
[06:41 am] doji : Anyone short in RIMM after
the open?
[06:41 am] joeytsa : all out SINA
[06:42 am] lightning : watching ITMN for a
bounce at some point
[06:43 am] joeytsa : SINA still tumbling
[06:45 am] rusty : SINA 24 rsi…getting
tempting for swing long at least partial
entry….will watch for panic or eod[06:45
am] rusty : before jumping in
[06:45 am] joeytsa : another stock down $100
on the year
[06:46 am] apple : it is amazing, isn’t
it?
[06:47 am] richard : Watching VRUS
[06:48 am] rusty : WYNN radar
[06:51 am] joeytsa : nice trade on INHX
[06:52 am] doji : VMED string vs SPY Kris
[06:53 am] observer : Metals new hod[06:55
am] joeytsa : AGCO nice spike
[07:03 am] mikewd2 -: CMI hod[07:03 am]
joeytsa : the ES banged on 1223, really
needs to break the 1225 area for a nice
run
[07:05 am] doji : Aggg stopped CMI Short
[07:06 am] joeytsa : CRM broke out
[07:09 am] vilazio : PAY short no good
[07:09 am] mikewd2 -: IHNX moving up
nicely
[07:10 am] doji : PAY and VMED, no love
definitely
[07:11 am] lightning : all out ITMN long.
[07:11 am] vilazio : PAY short near stop
[07:12 am] vilazio : PAY stopped out Oh my
goodness
[07:19 am] joeytsa : BIDU, nice move off
bottom
[07:19 am] eyes : QLIK
[07:20 am] rusty : SOHU hod[07:20 am]
mikewd2 -: YOKU hod[07:20 am] joeytsa : ES
touching 1225
[07:21 am] lightning : watching GMCR
[07:22 am] bopphaley : Could you say a few
nice words about INHX again?
[07:22 am] truck : I like it too Eyes,,but
no vol[07:22 am] mikewd2 -: watching INHX,
broke trend line
[07:23 am] rusty : LIVE radar….bullshort
type….but not a lot of volume
[07:23 am] joeytsa : tighten stop on BIDU if
long
[07:24 am] joeytsa : np apple, BIDU was a
beautiful setup
[07:25 am] lightning : S GMCR
[07:29 am] michael : S GMCR @ 45.95
[07:29 am] mikewd2 -: out CMI S 89.30 –
thanks Ed
[07:30 am] Ed : nice trade mike
[07:32 am] derns : Kris..do you have a
target for TZA?
[07:34 am] apple : thx for AGCO
[07:34 am] derns : VIX..I think I heard this
correctly..CNBC said the low VIX is
reflecting short term holiday good feelings,
but future VIX (out to Feb), it is over
30.
[07:34 am] joeytsa : good to know derns
thanks
[07:34 am] derns : that kinda makes sense, I
think
[07:35 am] mikewd2 -: ATHN hod[07:36 am]
mikewd2 -: i really like the matrix on TS –
great tool
[07:37 am] joeytsa : i keep reading of
dow4000 or even lower
[07:37 am] joeytsa : most i are just guesses
i think..but read one that made a little
sense…
[07:38 am] joeytsa : said that the reason
dow is still high is due to public money,
big money is mainly playing
futures/commodities etc[07:38 am] derns :
actually, the whole “Obama-short” Kris refers
to has given me some trading certainty
[07:39 am] khall : SEC accuses former
Freddie Mac and Freddie May execs with
security fraud – there’s a shock
[07:39 am] joeytsa : once market gets ugly
public will sell in droves
[07:40 am] joeytsa : but i still think the
market will at least attempt one big move
up
[07:40 am] khall : I meant Fannie May –
sorry
[07:40 am] joeytsa : play it as it comes
[07:40 am] khall : maybe one move up, but
then…
[07:40 am] doji : Still holding RIMM
Kris?
[07:41 am] derns : joey…2012 should
present some interesting trading
opportunities
[07:41 am] lightning : stopped GMCR short
[07:42 am] joeytsa : agree derns…i try not
to predict, just react..but sometimes my
brain gets biased
[07:43 am] derns : that’s an understatement
for me…I told my wife what you said..and
will repeat it…amateurs want to be right,
pros want to make money! She is pounding
that into my head!
[07:43 am] khall : well, the good thing
about trading the way we do is that we can
act on what is here now, and not worry too
much about what the overall market will or
won’t do
[07:44 am] joeytsa : that was nice Mitch
[07:44 am] apple : that’s right khall, here
in the NOW
[07:45 am] anthonyb : Guys, if you
discovered a simple play in the market on 1
or 2 specific stocks, that made over 2% 4
days a week and lost 1% 1 day a week, would
you think that you were on to something?
[07:45 am] joeytsa : do that once a day on
1000 shares = $156k/yr 🙂
[07:46 am] joeytsa : anthony, math looks ok
as long as the % stays constant
[07:47 am] Brent : If it doesn’t have to do
with what time it is. Then I would say yes
anthonyb[07:47 am] anthonyb : no specific
time. just every morning
[07:48 am] Brent : just a joke. How far back
have you back tested it?
[07:49 am] anthonyb : a few months
[07:49 am] joeytsa : anthony, anytime you
make twice what you lose, 50% win rate gives
you a decent profit
[07:50 am] Brent : good work anthony, always
nice to see extra work pay off
[07:50 am] anthonyb : i’m still proving it.
But I am on to something
[07:50 am] cowboyh : GEOY up over 2.5 pts
just this morning yaaa TSA team
[07:50 am] anthonyb : I will share
[07:51 am] anthonyb : It’s very simple
[07:51 am] lisas : Anthony, you mentioned
matrix in same post, is it part of your set
up? If separate, I agree, matrix is great,
love that is has a volume traded histogram
[07:51 am] anthonyb : I don’t know what
matrix is
[07:52 am] joeytsa : yeah derns..bounce more
ideas back and forth…just make money, don’t
try to be right haha[07:53 am] anthonyb :
lisas, what is matrix
[07:53 am] apple : when does ZYNG come
out?
[07:53 am] lisas : anthony, it’s a trading
dom in Tradestation.
[07:54 am] anthonyb : no matrix, no
indicators other than price
[07:54 am] apple : got out of AGCO too
soon
[07:57 am] doji : Kris, still in RIMM
please?
[07:57 am] skydiver : INHX still climbing
slowly
[07:59 am] derns : got out of TZA too
early..stopped out on tight stop
[08:03 am] skydiver : still in INHX – moving
up –
[08:05 am] doji : ZNGA opens
[08:05 am] lightning : watching ERTS for
possible bounce
[08:05 am] apple : ZYNG
[08:06 am] anthonyb : might get another ride
down the hill with FSLR
[08:06 am] derns : ZYNG..I heard the
founder/CEO took a preferential sale on
shares he owned as part of the
IPO>>>$108 million
[08:08 am] rusty : SINA hod[08:08 am] derns
: issued 100 million shares in the float, I
think
[08:11 am] doji : Plenty of buyers at 10 in
ZNGA
[08:11 am] lightning : ZNGA trying to get
under 10
[08:15 am] lightning : mmmm….ERTS
[08:16 am] doji : ERTS should have natural
support at 20
[08:19 am] mikewd2 -: nice call on ZNGA
Mitch
[08:20 am] qwert : i already got .40 cents
on very small position
[08:22 am] jsn13 : anyone long ZNGA? I can’t
see any volume on ZNGA for ninja
trader….
[08:23 am] doji : Ok, 1 share out ZNGA
[08:23 am] qwert : i know awesome thx
[08:23 am] lisas : got slightly over 4%
[08:24 am] doji : got 5%
[08:24 am] lisas : only 25 shares, but
interesting!
[08:25 am] doji : Watching FSLR
[08:25 am] anthonyb : hey who’s on the FSLR
short?
[08:25 am] anthonyb : it was blowing my hair
back for a little bit there
[08:26 am] vilazio : Brent, is it good set
up for LNKD dropping more?
[08:27 am] qwert : yep
[08:27 am] skydiver : yes
[08:27 am] doji : People is not seeing value
in ZNGA beyond 10
[08:30 am] derns : Mitch..do you see INHX as
a swing opportunity?
[08:32 am] scalpman : I’m flat…great day
today $$$$…
[08:32 am] apple : good for you scalp
[08:32 am] qwert : awesome scalp
[08:32 am] skydiver : Thanks Mitch for
learning the why
[08:33 am] doji : Derns, I see it more as a
short
[08:34 am] derns : thx doji…short because
of the big drop and the open gap below
7.80?
[08:35 am] derns : SPY dropping like
yesterday..started with a bang yesterday and
consistently sold off…I wonder if it will
do the same today
[08:36 am] doji : What I say Derns is that
if the news that were released today are
true, the potential for a drop (hard drop) is
higher vs going long. You will have to wait
3-4 days
[08:36 am] derns : thx doji…that makes
sense
[08:38 am] lisas : no, but I’ve heard of
someone who has
[08:38 am] doji : Me too Lisas[08:38 am]
apple : i know a friend who did that only
once, tho[08:38 am] lisas : kind of like PAY
today
[08:39 am] lisas : shows we listen MK
[08:40 am] pandozzi : there probably cute
too
[08:40 am] apple : pay was not good for
me
[08:41 am] doji : You are right Mitch I got
frustrated with PAY and VMED, got stopped and
then lost the shorts!
[08:41 am] lisas : good for me now, but took
too much heat, should have stopped and
reentered
[08:43 am] bopphaley : And, I bet there
smart, too Pandozzi[08:47 am] lisas : PAY
back a lod[08:47 am] pandozzi : that’s
obvious
[08:48 am] rusty : GRO cheap stock worth
watching for a short if daytraders take it up
enough
[08:49 am] rusty : doubled off of lows in a
few days
[08:49 am] joeytsa : big vol spike on LPS
[08:49 am] derns : rusty…I love your
ideas, but I am afraid of shorting low priced
stocks…my fear
[08:50 am] doji : SPY testing lows
[08:51 am] rusty : on the low priced stocks
I make sure to wait for volume
[08:51 am] rusty : and am very patient
[08:51 am] mikewd2 -: Lender Processing sued
by Nevada’s Attorney General
[08:52 am] derns : LPS…something to do
with 2 employees who committed fraud as
notaries…I THINK…not certain
[08:53 am] joeytsa : same company where
notary who leaked info died?
[08:53 am] doji : YEs, he was asking Kris
about RIMM like three hours ago
[08:54 am] joeytsa : for you swingers, FDX
touching recent res
[08:55 am] derns : LPS blew thru some
support at 16.49
[08:55 am] eyes : L ERTS 20.40 out half
20.60 1/4 .70 1/4 .65
[08:55 am] joeytsa : closing LPS short
[08:56 am] Kris : what was your question
doji,
[08:56 am] qwert : way to go eyes
[08:56 am] apple : L PAY 36.31
[08:56 am] doji : Asking if you were still
in RIMM, but never mind
[08:57 am] doji : Already closed my short
[08:57 am] Kris : ok
[08:58 am] jsn13 : nope….out really
early….
[08:58 am] newtrader : yes I am long TZA
[08:59 am] khall : me too
[08:59 am] derns : nice trade joey..I think
there is support for LPS between 15.30 and
15.45 and then again at 13.05..hope it gets
there!
[08:59 am] joeytsa : thanks derns,
yeah…might get down there…
[09:00 am] joeytsa : just came up as a cb
stock, wasn’t there when i shorted
[09:01 am] aussie123 : TNA…….LOD
[09:02 am] doji : TNA
[09:03 am] derns : moved my stop up on LPS
and got stopped out 3 secs later
[09:03 am] joeytsa : good timing?
[09:04 am] mikewd2 -: didn’t play LPS,
awesome call Mitch
[09:04 am] pandozzi : thx mitch nailed it
[09:04 am] derns : yeah joey…good/lucky
timing for me
[09:05 am] qwert : use it and lose it
[09:06 am] mikewd2 -: LRN
[09:08 am] doji : The only short that worked
today for me was SLB below 68. Thanks!
[09:09 am] joeytsa : Mitch: when a stock is
listed as circuit breaker, you have to hit an
uptick to short?
[09:12 am] Mitch K: Joey, i don’t think so
[09:12 am] Mitch K: on circuit breaker
[09:12 am] joeytsa : thanks mitch, i
thought that was the rule
[09:12 am] joeytsa : which would make that
trade more advanced for some
[09:18 am] chinhngo : set short lps at
16.10
[09:20 am] joeytsa : GS on the daily not far
from 52wk low
[09:22 am] joeytsa : if that doesn’t hold,
might be bombs away
[09:23 am] joeytsa : Are markets closed on
both 12/26 and 1/2 ?
[09:24 am] Mitch K:
http://www.nasdaqtrader.com/trader.aspx?id=ca
lendar
[09:24 am] Mitch K: yes on both days
closed
[09:24 am] Mitch K: 26th DEC and 2 JAN
[09:26 am] jolliffboy : Mitch – since it’s a
no go short on LPS is it now a long
opportunity???
[09:26 am] Mitch K: no jollifboy, not
interested in LPS. hey chingo, LPS at 16.10
NO GO
[09:29 am] chinhngo : short jbht again at
44.92 is ok ?
[09:31 am] Ed : i think there will be better
opportunities chinhngo, we just have to be
patient
[09:31 am] pandozzi : I’m waiting with my
bullets loaded : )
[09:34 am] doji : Watching FSLR, may lose
30
[09:35 am] derns : DOW is down 40 and
S&P is even
[09:36 am] joeytsa : the ES close to
overnight lows
[09:37 am] joeytsa : IBM hammered today
[09:37 am] vilazio : Ed do ya see WPI more
selling?
[09:38 am] chinhngo : i have long agco at
40.55 may i know what is stop please?
[09:38 am] derns : ok..that explains DOW…I
can’t find a news reason for IBM’s
drop..possible fade long?
[09:39 am] joeytsa : chinhngo..you should
know your stop b4 you even enter your
trade
[09:40 am] Brent : If your still in stop
should be under low of day Chingo[09:40 am]
joeytsa : dern: they have been on a nice
run
[09:40 am] doji : The SPY is not helping
Chingo, not for longs at this moment
[09:40 am] chinhngo : thank mr brent set
stop agco at 40.00
[09:41 am] derns : I hope it drops to 179.60
to close the gap from 11/25
[09:41 am] joeytsa : IBM recently had 52wk
hi, but just broke thru 20/50ema
[09:41 am] Ed : vilazio I like it more at or
near 58.78ish
[09:43 am] Ed : don’t always get what u
want
[09:43 am] lightning : FSLR closing in on
30
[09:44 am] doji : Yes light
[09:44 am] joeytsa : FXE having issues at
130 area
[09:44 am] doji : Previous low was at 30.04,
needs to go below it with conviction for a
nice short
[09:45 am] doji : The SPY should help
[09:45 am] apple : i need to be more
patient….
[09:46 am] joeytsa : me 2 apple, esp this
part of the day
[09:52 am] bopphaley : 200 ma finally ticked
up on INHX 1 min
[09:53 am] rusty : @AP: BREAKING: Fitch
considering downgrading ratings for Belgium,
Spain, Slovenia, Italy, Ireland and
Cyprus.
[09:54 am] rusty : out few minutes ago
[09:55 am] joeytsa : they might as well just
give out a planetary downgrade
[09:55 am] derns : news flash..Earth’s
credit rating is downgraded!
[09:55 am] joeytsa : this slow trickle of
news is getting annoying
[09:55 am] apple : FSLR lod[09:57 am]
joeytsa : thanks for the update rusty
[10:00 am] rusty : Fitch affirms France,
outlook negative
[10:01 am] derns : rusty..what does that
mean…no downgrade, just an affirmation that
things are negative?
[10:01 am] rusty : Fitch = Julian
Assange[10:02 am] skydiver : well – I’m long
FSLR at 30.05, watching paint dry
[10:02 am] skydiver : SPY climbing
[10:03 am] joeytsa : sky: instead of moving
like jagger, its moving like richards?
[10:03 am] derns : rusty..I seen now, they
affirmed AAA rating…same as the USA
[10:03 am] rusty : Fitch: France’s negative
outlook indicates slightly greater than 50%
chance of a downgrade.
[10:04 am] derns : but affirmed…boy, talk
about splitting the hairs!
[10:04 am] joeytsa : still not great new
right
[10:08 am] mikewd2 -: ZNGA lod[10:09 am]
weston : planning to short WPI
[10:10 am] derns : CNBC Steve Liesman puts a
6/7 out of 10 for a “depression” or severe
recession in EU
[10:10 am] joeytsa : SINA the only thing
kinda moving
[10:12 am] vilazio : SINA up
[10:13 am] apple : nice on WPI
[10:13 am] chinhngo : short wpi at 59.76 is
ok ?
[10:13 am] weston : I just cover WPI at
59.79
[10:15 am] apple : ACN
[10:17 am] joeytsa : yep, ZOLL had a big
move also
[10:17 am] lightning : watching SINA for a
short opportunity
[10:17 am] joeytsa : 2-3 days ago
[10:17 am] weston : bvn short opt
[10:19 am] rusty : SOHU new hod[10:19 am]
rusty : SINA “
[10:19 am] joeytsa : all out SINA l
[10:20 am] vilazio : How’s SINA short on
this top?
[10:20 am] joeytsa : depends on the market,
might get a small pullback but the trend is
up
[10:21 am] apple : vil – it’s still
moving
[10:21 am] joeytsa : not every top is
shortable[10:21 am] Ed : not much money, plus
u would be shorting into hammer trying to
form on daily
[10:22 am] joeytsa : chinhngo : WPI will be
a better short below 59.72
[10:23 am] skydiver : All out of FSLR
30.62
[10:23 am] joeytsa : re-entered SINA
long..trailing up
[10:24 am] joeytsa : shooting for the gap
[10:24 am] Ed : pow[10:24 am] joeytsa :
touched me out…30cent profit
[10:25 am] apple : SINA was good
[10:26 am] joeytsa : yeah, 2 long trades
[10:26 am] skydiver : I need to take more
coffee breaks went L FSLR 30.05 – sold
30.62
[10:26 am] joeytsa : nice giong[10:26 am]
apple : good one sky
[10:29 am] eyes : EVERYONE I JUST GAVE MY
WORD TO MITCH THAT I WILL ONLY PAPER TRADE
FOR THE NEXT NINETY DAYS YOU ALL ARE
WITNESSES AND IF I BREAK MY WORD I WANT TO BE
BANED FROM THIS ROOM
[10:30 am] qwert : got your back eyes
[10:30 am] apple : we are always here for
you eyes
[10:31 am] Ed : who asked about sina
short?
[10:31 am] truck : With you all the way,eyes
!
[10:32 am] Ed : nice trade on sina joey
[10:33 am] joeytsa : thanks ed…only
mistake was not holding for the full run
[10:33 am] joeytsa : made 2 entries
[10:33 am] lisas : but eyes, when you paper
trade, treat it as though it’s live. It’s
easy to get sloppy when it’s not real money.
Not only paper trade, but look for positive
equity curve.
[10:33 am] apple : great advice lisa[10:34
am] Ed : good point lisa[10:34 am] skydiver
: I did paper for a long eyes, then started
small, some days paper traded other days
real
[10:35 am] eyes : That is why I quite paper
trading I made a lot paper but was not
consistent
[10:35 am] skydiver : Treated paper trading
as real — even sweated out some trades doing
virtual
[10:35 am] skydiver : nice joey on SINA
[10:36 am] apple : me. too, you have to
treat it as real. but consistency is the
most important thing.
[10:36 am] joeytsa : if trading was simple
everyone would be doing it…takes a lot of
time
[10:37 am] Ed : sina strong
[10:37 am] eyes : I have been at this for 3
years and have not been willing to change
that is why I committed to the ninety days
[10:37 am] lisas : I almost gave myself a
heart attack paper trading. Decided to do
some crazy stuff, got down big, then when I
signed off, I was terrified that maybe I
wasn’t in sim mode. Scared me straight!
[10:43 am] truck : Ed,,,,what’s the guys
name in Richmond that was one of the original
Turtle Traders ?
[10:43 am] Ed : curtis[10:44 am] Ed : read
his book
[10:44 am] truck : Me too
[10:44 am] Ed : great book
[10:44 am] truck : Yes
[10:45 am] lisas : Patience has paid in Pay,
up 4.7% on last quarter. I don’t usually hold
this long, need to start
[10:45 am] Ed : told lunarman it would be
great read
[10:46 am] apple : SINA moving again
[10:46 am] Ed : hey vilazio, this is what we
were meaning by not trying to short
sina[10:47 am] lightning : CIE short
[10:47 am] Ed : too strong, and the dips have
been bought quickly
[10:48 am] Ed : is he still trading cl
only
[10:48 am] Ed : that q is for truck
[10:48 am] rusty : Former MLB star Barry
Bonds and legal team arrive at San Francisco
courthouse for sentencing in obstruction of
justice case
[10:48 am] vilazio : Yes Ed, I was wrong
thx
[10:49 am] Ed : not so much wrong, just not
right selection
[10:49 am] Ed : or high odds
[10:52 am] lisas : Taking off now, son
called from college, has mono so I need to
move his flight home up. May not be around
much next couple weeks, so happy holidays
all.
[10:52 am] lightning : covered CIE for some
change.
[10:53 am] Ed : take care lisa[10:54 am]
apple : see you lisa, hope he feels better,
talk to you soon
[10:56 am] Ed : and there u go, there u go,
business pro
[10:58 am] lightning : HTLD picked up steam
in the last 5 minutes
[10:58 am] khall : see you later Lisa – have
a good holiday and hope your son heals
quickly!
[11:05 am] apple : TZOO too late
[11:06 am] vilazio : PAY up with volume
[11:07 am] derns : watching CVC
[11:08 am] chinhngo : long pay and
tna[11:15 am] bopphaley : inhx life?
[11:16 am] apple : look at that
consolidation on WPI – just waiting for a
move
[11:21 am] apple : JAZZ moving
[11:21 am] derns : watching GMCR
[11:30 am] joeytsa : watching FOSL for break
of lod[11:30 am] joeytsa : moving slow
though
[11:32 am] vilazio : SHLD long @ 48.23
Brent
[11:32 am] rusty : TLT hod[11:32 am] derns
: CVC at hod after bug gap down to start
day
[11:34 am] apple : another new high on
SINA
[11:35 am] joeytsa : thanks for SHLD
Brent
[11:35 am] joeytsa : probably got out too
soon, but I’m not picky this time of day
[11:36 am] doji : Want to see more selling
to risk it short
[11:36 am] joeytsa : yeah apple, SINA coming
into res, push thru would be nice
[11:36 am] vilazio : I think SHLD increasing
volume means about to turn over. Isn’t it?
[11:37 am] joeytsa : sometimes…but that
stock have been trending down since the last
week of october[11:37 am] vilazio : But Joey
went short
[11:37 am] doji : It’s only one of the
indicators
[11:38 am] vilazio : Uh oh I still don’t
understand TSA language
[11:39 am] joeytsa : vilazio: not always,
but usually the easiest trades are when the
short-term trend is in the direction of the
next larger trend
[11:39 am] apple : i have to use wider
stops, i keep getting stopped out of the good
ideas
[11:39 am] Brent : I was watching for a
bounce vilazio, but it didn’t drop enough for
me. I like to see at least a 3% direct move
to take a reversal. SHLD was less than 2%
when it bounced
[11:39 am] doji : SHLD approaching S1 at
47
[11:41 am] doji : will break 47
[11:41 am] joeytsa : if it does, probable
drop to 46.50? or lower
[11:41 am] joeytsa : no big buyers until
46.30 area
[11:42 am] drhewage : what is the idea about
LRN
[11:44 am] joeytsa : picture perfect setup
on SHLD, it was in an intraday downtrend then
broke more support…in a downtrend on the
daily and weekly charts
[11:44 am] vilazio : SHLD long again @
47.23
[11:45 am] vilazio : Mitch please do like
ATHN
[11:45 am] mikewd2 -: still looks weak to
me
[11:47 am] chinhngo : long shld at 47.25
[11:48 am] joeytsa : ACN picking up some
steam
[11:48 am] derns : joey…with the break of
support and a quick reversal, are you
suggesting that is a head fake or what?
[11:48 am] derns : or just good short while
it was on the downtrend?
[11:48 am] joeytsa : not saying
anything…but if YOU want to buy it, then go
for it 🙂
[11:49 am] lightning : lol[11:49 am] joeytsa
: if it moves up it will have to do it
without me
[11:49 am] mikewd2 -: me too
[11:49 am] joeytsa : I’m on the other train
🙂
[11:49 am] derns : oh geez..now you’re
making me think..I guess the student needs to
step up sooner or later
[11:50 am] mikewd2 -: i didn’t’ like the
volume during the last sell off
[11:50 am] apple : LPS lod[11:50 am] joeytsa
: derns: what i mean is, unless it’s a
classic Vpattern, i stick with the odds
[11:50 am] mikewd2 -: my gut is there will be
at least one more
[11:50 am] rusty : Barry Bonds sentenced to
30 days electronic monitoring, 2 years
probation, 250 hours community service, $4000
fine for federal conviction
[11:50 am] derns : I was thinking that was
key…thx for the clue.
[11:50 am] joeytsa : i don’t try to catch
every wiggle a stock makes
[11:51 am] derns : and answer
[11:51 am] jsn13 : ok I gtg guys…..see u
all on monday morning……quite a good day
for me….3/3 up 1k…..although not as much
as yesterday….thanks guys for the ideas
here….
[11:51 am] doji : FSLR on the move, second
time it rebound very strong from 30 in the
last two days
[11:51 am] Ed : nice trading jsn13
[11:52 am] mikewd2 -: nice work jsn13
[11:52 am] joeytsa : closing 2nd SHLD s
[11:52 am] vilazio : SHLD stopped out
again
[11:52 am] joeytsa : coming into double
bottom
[11:53 am] jsn13 : 3 consecutive green
days….1st time after 1 full years of day
trading….thanks TSA….
[11:53 am] lightning : nice jsn. go for 4
on Monday!
[11:53 am] Ed : great, study this weekend so
u can stay in the “ZONE”
[11:53 am] joeytsa : let’s see is SHLD wants
to play whack-a-mole again 🙂
[11:54 am] doji : SHLD still weak, the
rebound volume was half of the selloff
[11:54 am] jsn13 : Yup i did my study at
least an hour b4 i sleep…..thanks for the
S/R lesson ED….u did a great job….
[11:54 am] rusty : Update: Judge agrees to
stay sentence while Barry Bonds appeals
conviction
[11:54 am] joeytsa : SINA might be cracking?
keep an eye out
[11:55 am] jsn13 : an hour a day keeps u in
the zone everyday…..bye guys…have a great
weekend….
[11:56 am] doji : SINA daily is in a
downtrend Joey
[11:57 am] joeytsa : so is the weekly
[11:57 am] joeytsa : but been strong
today
[11:57 am] joeytsa : looks like it wants to
stay strong at the moment
[11:58 am] apple : thx MK, K, B, E and
everyone. It’s been a great day. Have a
wonderful weekend.
[11:58 am] Ed : take care apple
[12:00 pm] doji : YEap Joey, SINA closed the
gap today. Let’s see how it moves on
Monday
[12:00 pm] joeytsa : impressive move past
few minutes
[12:01 pm] doji : I agree
[12:01 pm] Ed : I’m still holding 1/4
position in sina will decide on carrying
over
[12:02 pm] Ed : did not expect such a big
move
[12:02 pm] joeytsa : be good if SINA can
hold this level
[12:08 pm] doji : Hey Ed, did you recommend
SINA on the room? I might have been
distracted
[12:11 pm] joeytsa : not liking that SINA
action at the moment
[12:11 pm] joeytsa : needs a vol push up
[12:15 pm] joeytsa : not sure if anyone
mentioned it, but House passes $1T spending
bill
[12:15 pm] joeytsa : avoids shutdown
[12:18 pm] joeytsa : watching AMZN
[12:18 pm] joeytsa : avoided the 3peat in
SHLD
[12:19 pm] mikewd2 -: covered SINA S 1%
[12:20 pm] joeytsa : i didn’t take the 3rd
short in SHLD doji[12:20 pm] Ed : it was
mentioned,
[12:20 pm] khall : I could kick myself. I
was in it L earlier and got out waaay too
soon.
[12:21 pm] Ed : brent called it earlier
[12:21 pm] joeytsa : good trade mike
[12:23 pm] doji : SPY dropping
[12:24 pm] doji : SINA moving down
[12:25 pm] joeytsa : and down goes SHLD
[12:25 pm] mikewd2 -: Ed you carrying SINA
over?
[12:26 pm] Ed : will decide before close
[12:26 pm] Ed : I’m way ahead on trade
[12:27 pm] Ed : it was called by Brent at
9:50est this am
[12:27 pm] joeytsa : AMZN turning into a
nice short
[12:27 pm] Ed : little b4 then
[12:28 pm] joeytsa : might be bottoming
here
[12:29 pm] mikewd2 -: SHLD still falling,
getting a little more interesting
[12:29 pm] mikewd2 -: any news on SHKD?
[12:29 pm] mikewd2 -: SHLD
[12:29 pm] joeytsa : all out AMZN
[12:30 pm] Ed : nice trade joey
[12:30 pm] joeytsa : thanks…think that
might be my last of the week
[12:30 pm] qwert : hey everybody have a
great weekend more great calls today see ya
next week
[12:30 pm] joeytsa : only 30 minutes left,
don’t want to force something dumb
[12:31 pm] qwert : nice trade on amzn
joey
[12:31 pm] Ed : c ya qwert[12:31 pm] Brent :
have a good weekend qwert[12:31 pm] rusty :
Gilbert Gottfried CNBC
[12:34 pm] vilazio : I am trying to
understand what you are talking here. I
misunderstood the language and doing wrong.
If you say watching for long or short it is
clearer for newbies.
[12:36 pm] vilazio : Thx Kris now I take a
note
[12:37 pm] vilazio : I will Kris many thx
[12:37 pm] victor51 : joey, good analysis on
SHLD
[12:38 pm] joeytsa : thanks..didn’t take
that last move down though
[12:38 pm] Ed : best trades are one u miss
[12:49 pm] chinhngo : shld will be the same
with athn yesterday i hope ?
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