[06:31 am] Ed : would like more
selling
[06:31 am] Ed : monitoring
EBAY
[06:33 am] Mitch K: watching M for
top
[06:33 am] Mitch K: watching LQDT for
bottom
[06:33 am] Mitch K: watching ALJ
for top
[06:33 am] Mitch K: watching QIHU
for top to short
[06:33 am] Mitch K:
watching FIRE for short
[06:35 am] Mitch
K: watching RGLD for top
[06:35 am] Mitch
K: monitoring CAG
[06:35 am] Ed : monitor
516 area on AAPL been key
resistance
[06:35 am] Mitch K: monitoring
JKHY
[06:36 am] Mitch K: watching URI for
top, too early
[06:37 am] Mitch K:
watching QIHU closer
[06:37 am] Mitch K:
watching ATHN for bottom
[06:39 am] Ed :
SPY new hod
[06:40 am] Mitch K: most
stocks actually
[06:40 am] Mitch K: lot of
stocks bouncing
[06:41 am] Mitch K:
watching NOC for bottom
[06:41 am] Ed :
monitor HLF for breakout with strong
vol
[06:42 am] Ed : SPY new hod
[06:43
am] Ed : reduced 3/4 of HLF long
[06:45
am] Mitch K: watching SHLD for top
[06:45
am] Mitch K: watching retailers for
top: ANF, RL
[06:47 am] Mitch K:
watching for quick micro shorts, many
stocks
[06:48 am] Mitch K: HLF
toppy
[06:49 am] Mitch K: monitoring
LMT
[06:50 am] Mitch K: watching KRO for
bottom
[06:51 am] Mitch K: CAG
bouncing
[06:51 am] Mitch K: taking JKHY
off screen
[06:52 am] Mitch K: watching
HON for bottom
[06:52 am] Mitch K:
watching CLH for top, Clean Harbors
[06:52
am] Mitch K: QIHU toppy
[06:54 am] Ed :
520 next key area on AAPL
[06:55 am] Mitch
K: watching LRCX for bottom
[06:58 am] Ed
: SPY new hod being helped by AAPL
[07:06
am] Mitch K: today should be beginning of
multi day bounce in AAPL
[07:06 am] Ed :
trailing last 1/4 of HLF right behind 20
sma
[07:12 am] Ed : getting pullback in
SPY
[07:13 am] Mitch K: didnt post LQDT
bottom because of low vol but had big move,
short started, late post.
[07:29 am] Mitch
K: investors dont seem to be scared of the
cliff. surprising
[07:44 am] Mitch
K: new daily highs on HLF, looking for $35-36
within a 10 day period
[08:04 am] Ed : SPY
nearing hod
[08:27 am] Ed : HLF new
hod
[09:24 am] Mitch K: anyone swing
trading HLF long or NUS?
[09:30 am] Mitch
K: victor, there is still some room left to
buy HLF, nice to get $30-31 area
though. HLF could easily get to $37-39
area
[09:39 am] Mitch K: gee apple, that
is way out of the money if you bot the
35calls when stock was 25-26. and you
didnt give yourself much time either.
what was your entry price and what is current
price now?
[09:39 am] Mitch K: of the jan
35C
[09:42 am] Mitch K: mike, sell the put
naked is high risk at this point, HLF has
moved from 25 to $32 already in 4
sessions. you said the JAN 30 P is
$2.20? thats a pretty good deal for the
seller/writer consider this expires Jan 18th
and you are likely to see HLF above
$30. so you should get the whole
premium without a closing transaction or
commission.
[09:43 am] Mitch K: all you
need to think about is if HLF will be above
or below $30 by the close or in the next 2.5
weeks
[09:44 am] Mitch K: im willing to
pay a little extra on the premium for
that.
[09:44 am] Mitch K: i thnk that is a
pretty good bet. when i put HLF on the
swing list long, i thought the right play
then was the Feb 25 call. i like to be
in the money a little bit on that situation,
on long side of course
[09:47 am] Mitch K:
one of the most important lessons i can teach
anyone is evaluating where investors/traders
are in the cycle of selling on HLF.
Ackerman trashed it back in late APril when
it was $72. As long as he discloses it
under Reg FD (Full Disclosure) he is legal
and this is his second time. when you
see a stock drop from $72 to 25, the odds are
very high you are going to start seeing some
short covering as well as buying long from
speculators, both of which is same effect,
buying.
[09:48 am] Mitch K: you got to get
into the mindset of investors, what are they
thinking or reacting too. The Ackerman
news last week got a lot of press, everywhere
that i saw. The news headlines were
light and the media jumped on the Ackerman
comments, plus he said it in video on CNBC
and i think another tv program.
[09:51 am]
Mitch K: esp if we get a mini deal from
Washington or any deal, just get a deal down
and this market moves up
[09:51 am] Mitch
K: now my guess with HLF is we get another
big up day tomorrow like we are getting
today
[09:51 am] Mitch K: and his language
was something like “best short setup I’ve
ever seen” etc. you dont try long on
first day, you can short it on day one, then
we got 2 more big down days, increasing vol
for 3 big down days. the dec 24th comes
along for a half day and we got more selling
on lower vol with short session. next
day was dec 26th and stock was still
shellshocked but trying to move up and thats
your cue to start buying
[09:54 am] Mitch
K: i dont see much of a dip on HLF or even
NUS from here, if there is one, i would think
it will be a shallow dip, like to 30.50 or
$31 area. all the bad news is out on HLF for
the moment, unless some “new news” comes out
on it
[09:55 am] Mitch K: the other
challenge we have is our personal attention
span with a swing trade when we are getting
bombarded with day trading ideas. gets
real hard to switch mindset between a swing
and a day trade
[09:55 am] Mitch K: i
agree mike, at this point, that is best
strategy if you trade options.
[09:57 am]
Mitch K: i have an idea you might start
playing around with if you are using
Lightning. regarding the stops on swing
trades, try setting up a 30 min or even a 60
min chart for the stock you are swing trading
and use a sell signal on that 60 min chart
for your stop.
[09:58 am] Mitch K: and
keep that chart in same place on your
monitors for the 2 weeks you might hold a
swing trade so all you do is glance at that
chart.
[10:00 am] Mitch K: another point
about the trading action on this HLF is
stocks usually “breath” and just move around
naturally as the balance between buyers and
sellers shift. It often doesnt mean
anything that a stock like HLF that has
come up from $25 to 32 pulls back 75 cents or
$1.00. of course you need to track the
overall market but the market is bullish
right now
[10:02 am] Mitch K: i would play
around with a 30 or 60 min chart to monitor a
sell signal for HLF as your swing trade
long. you are getting an earlier signal
than using a daily setting on Lightning
chart. its what we call multiple time
intervals, or at least thats what i call
it
[10:03 am] Mitch K: fyi, for some
people, you might wonder why we have to do
these extra things like i just described on
different charts. my answer to that is
this is a business, this is about maximizing
profit and minimizing loss. the extra
effort it takes to do something like this is
worth it
[10:06 am] Mitch K: last thought
about that is this is far more profitable
than most any other activity so if you are
feeling bored or discouraged about trading
think this thought……..
[10:09 am]
Mitch K: it takes a journey plumber or
electrician 5 years before he can call
himself a plumber or electrician and then he
or she has a chance to get to a certain wage
level. In this economic environment,
new journeymen is not what is being picked up
as high demand right now. there is
still years of experience to gain in that or
any field. What would you rather do,
spend 2 years diligently studying how to make
money in financial markets or spend 5 years
getting to journeyman status and try to get a
job. and then what is potential payoff
with each.
[10:11 am] Mitch K: no offense
to journeyman plumbers or electricians but i
think the word picture is what im getting
at. Ask electrader, he ran crews of
journeyman electricians, am i right or right
Keith?
[10:35 am] Ed : all waiting on
Obama to speak
[10:45 am] Ed : Obama
speaking
[10:47 am] Ed : should get some
volatility
[11:48 am] Ed : SPY nearing
hod
[11:59 am] Ed : SPY new hod
[12:12
pm] Ed : nice drop in SPY and bounce in
VXX
[12:26 pm] Ed : Reid has not agreed to
current deal
[12:50 pm] Mitch K: 14:58
EDT theflyonthewall.com: Sen.
McConnell says ‘We’re very close to an
agreement’
[12:55 pm] Ed : HLF new
hod
[12:55 pm] Ed : SPY hit new
hod
[12:57 pm] Ed : Happy New year to all,
and please be safe
| [06:15 am] jolliffboy : mikewd2 and I
had the same problems. This year will be
different for sure.
[06:15 am] mikewd2 -:
Successful traders actually may have
more losers than winners. But losers will be
minimal loss in $, winners will be
$$
[06:19 am] skydiver : good
morning all — good info Mike –
thnx
[06:20 am] qwert : Good morning
to everybody
[06:21 am] skydiver :
gm qwert
[06:21 am] qwert : gm
sky
[06:21 am] taco : i have some
q’s about your set ups and odds preferences
joey, ed and qwert. maybe we could look at
how you guys view set ups if the day gets
quiet.
[06:22 am] qwert : cant
believe its already the end of the
year
[06:22 am] scalpman : GM
all
[06:23 am] skydiver : yeah qwert
— 2012 flew by fast – gm scalp
[06:24 am]
joeytsa : taco: for me, when the day
gets quiet i usually do also
[06:24 am]
joeytsa : agree sky, this year went by
really fast
[06:25 am] skydiver :
yes joey – about as fast as your horse can
run !! 🙂
[06:25 am] joeytsa :
she’s back in training
[06:25 am]
skydiver : great
[06:27 am]
joeytsa : taco: otherwise, i still look
for same setups, but if its quiet/low vol,
then i do other things…read,or you can
adjust your swing trades…does that answer
your question?
[06:27 am] joeytsa :
i also wait to hear a signal from lightning
now, so i dont have to keep watching those
charts
[06:28 am] reshef :
G.morning
[06:28 am] skydiver : gm
reshef
[06:28 am] elisha : Good
Morning Mitch, Ed and everybody
else
[06:28 am] mikewd2 -: watching HLF
for breakout above 30.35 area
[06:29 am]
joeytsa : thx mike
[06:29 am]
joeytsa : /GC,PL,NG all had nice down
moves earlier this morning
[06:29 am]
lisas : gm all
[06:30 am] taco
: yes joey, i’m open to input when i post my
entries and will ask re different setups,
thanks
*** austria -, Welcome to the
TradeStocksAmerica Live Trading
Room
[06:30 am] joeytsa : sounds
good
[06:30 am] skydiver : gm
elisha
[06:30 am] elisha : gm
skydiver
[06:31 am] joeytsa :
watching QCOR
[06:31 am] mikewd2 -:
NUS
[06:31 am] joeytsa : also
MGLN
[06:31 am] skydiver : apple
shot up nice
[06:33 am] shark :
hitting Fri res high – AAPL
[06:33 am]
joeytsa : watching CLF
[06:34 am]
skydiver : QIHU – made a deal with
Google which starts up shortly
[06:34 am]
joeytsa : thx sky
[06:34 am]
skydiver : 🙂
[06:34 am]
joeytsa : /ES contracts moving a bit
slow at the moment
[06:35 am]
joeytsa : WPI
[06:35 am]
skydiver : thnx Ed
[06:37 am]
taco : CLF better..
[06:38 am]
skydiver : AAPL at the getting close to
517 area
[06:38 am] skydiver : good
english on my part
[06:38 am]
joeytsa : thanks yoda
haha
[06:38 am] skydiver :
🙂
[06:39 am] skydiver : out 1/2
AAPL long
[06:39 am] joeytsa :
tighten CLF if long
[06:39 am]
skydiver : out another 1/4 AAPL
long
[06:39 am] mikewd2 -: QIHU having
trouble with 28.50
[06:40 am] Ed : nice
call joey on MGLN
[06:40 am] joeytsa
: 🙂
[06:40 am] skydiver : all out
of AAPL long
[06:40 am] joeytsa :
/ES to test 1400?
[06:42 am] shark :
long USD/JPY continues nicely
[06:43 am]
Ed : nice play sky
[06:43 am]
joeytsa : nice shark, never traded
that
[06:43 am] skydiver : thnx
Ed
[06:43 am] skydiver : made my day
already on that one 🙂
[06:43 am]
joeytsa : way to go sky
[06:43 am]
skydiver : 🙂
[06:44 am] shark
: watching KORS, nice run so far
[06:44
am] skydiver : yes shark – watching
KORS as well
[06:44 am] shark :
😉
[06:45 am] Ed : that was nice breakout
sky on usd/jpy
[06:45 am] shark :
bounced off 200day, on Thu.
[06:46 am]
joeytsa : tighten MGLN, into
$50
[06:47 am] mikewd2 -: CLF
[06:48
am] shawn : ed is wynn a
short?
[06:49 am] shark : AAPL broke
the downtrend line on daily
[06:49 am]
shark : holding right above it,
now
[06:53 am] joeytsa : NFLX on a
nice move since open
[06:54 am]
shark : QIHU topped
[06:56 am]
mikewd2 -: no short shares on QIHU at
TS
[06:57 am] shark : AAPL
strong
[06:57 am] joeytsa : yeah
shark, on fire
[07:01 am] joeytsa :
/GC testing pp
[07:03 am] mikewd2 -:
agq
[07:03 am] mikewd2 -: sorry wrong
window
[07:04 am] joeytsa : my 7:01
post is wrong, thats /PL not GC
[07:05 am]
mikewd2 -: CRUS toppy
[07:07 am]
joeytsa : /CL making higher
lows
[07:14 am] joeytsa : AMZN
hod
[07:16 am] jsn13 : anyone is
short CL?
[07:17 am] jsn13 : i mean
/CL…
[07:21 am] joeytsa : i didnt
jsn
[07:22 am] jsn13 : how many
contract do u trade normally joey?
[07:22
am] taco : s HLF 30.95
[07:23 am]
joeytsa : on /CL, no more than 5
usually
[07:23 am] jsn13 : ok thanks
joey…
[07:24 am] joeytsa : has
higher margin rate, and also gives me room to
either add or trade another future
[07:26
am] jsn13 : how much margin does ur
broker need for 1 contract of /CL?
[07:26
am] joeytsa : $2000
[07:27 am]
joeytsa : but i like to have some
wiggle room
[07:27 am] jsn13 : ok i
see….2k is not too high….
[07:27 am]
joeytsa : easy to overextend and get
into trouble
[07:28 am] taco :
closing HLF
[07:28 am] joeytsa : no,
but /ES,YM ,6J,6A,6E are all $500
[07:29
am] jsn13 : haha exactly….must really
control the risk…how bout /GC and
/PL?
[07:29 am] mikewd2 -: AAPL having
difficulties closing candle over
525.
[07:29 am] joeytsa : GC,PL both
$1000 , SI is $6480
[07:29 am] shark
: VIX going down
[07:29 am] mikewd2 -: wow
– VIX down 7.8%
[07:30 am] jsn13 :
thanks alot joey for the info….will start
investing more time into futures…
[07:31
am] joeytsa : safe way for /ES would be
to have $5000 for each contract you
trade
[07:31 am] joeytsa : $3500
bare minimum
[07:31 am] go4it :
Think fiscal cliff is like Mayan
armegedon
[07:31 am] shark : or
Y2K
[07:32 am] joeytsa : AAPL trying
to break cup
[07:32 am] joeytsa : or
romo leading the cowboys to the superbowl
🙂
[07:32 am] shark : haha
[07:32
am] go4it : lol Joey
[07:33 am]
joeytsa : 🙂
[07:34 am] go4it
: aapl
[07:34 am] joeytsa : dems
might raise level to $400k for tax
[07:35
am] go4it : wrong keyboard
soory
[07:36 am] joeytsa : will
watch NFLX for a break over $92
[07:37 am]
go4it : nflx
[07:37 am] go4it
: wrong keyboard again
[07:38 am]
joeytsa : bruce hitting the bottle
early today
[07:38 am] go4it : lol
little hung over Joey
[07:38 am]
joeytsa : you wont make it to the new
year at this rate haha
[07:39 am] mikewd2
-: HLF still battling for 31.00
[07:39 am]
go4it : my hangover will be gone by
then
[07:39 am] joeytsa : should
test it again mike
[07:41 am] apple
: good morning to all alert traders
[07:42
am] go4it : lol
[07:42 am]
go4it : did you get snow
Apple
[07:43 am] skydiver : gm
apple
[07:44 am] apple : no snow
really, light flurries
[07:44 am]
apple : gm sky
[07:44 am]
apple : gm go
[07:44 am]
joeytsa : break time, make some money
🙂
[07:44 am] apple : gm
mike
[07:44 am] joeytsa : hi
apple
[07:44 am] apple : gm joey –
have fun
[07:44 am] apple : gm
shark
[07:44 am] skydiver : enjoy
the old break joey
[07:45 am] apple
: gm taco
[07:45 am] apple : tm
jsn
[07:45 am] shark : hi
apple!
[07:45 am] apple : nice move
on LQDT
[07:47 am] taco : hi
apple
[07:48 am] elisha : thanks
Mitch for including swing trade
posts
[07:48 am] apple : gm
elisha
[07:48 am] taco : hey elisha,
i posted your gratitude link on my facebook,
really like it
[07:49 am] elisha :
gm apple
[07:49 am] elisha : taco –
glad you like it
[07:49 am] elisha :
i have found gratitude to be a life changer
for me
[07:50 am] cowboyh : GM
Apple
[07:50 am] apple : it
certainly is, elisha. could you send me
the link?
[07:50 am] apple : gm
cowboy, how are you
[07:51 am]
elisha : for instance – i’m
really grateful for this room and all you
guys . you share and answer
questions
[07:52 am] elisha : apple
– i’ve gotta locate it but will post it
again
[07:52 am] apple : it’s all
the parts together that make it
great
[07:52 am] apple :
thx
[07:52 am] elisha : the whole is
greater than the sum of the parts
[07:52
am] aussie123 : anyone know what time
the market closes today?
[07:52 am]
apple : 4 pm aussie
[07:52 am]
taco : hey happy birthday!
[07:53
am] aussie123 : thanks taco
[07:53
am] apple : yes, happy birthday and
many, many more…
[07:53 am]
cowboyh : great apple did u have a good
xmas
[07:53 am] elisha : thats right
– happy 80th birthday aussie
[07:53 am]
apple : everyone celebrates with
you…
[07:54 am] skydiver : happy
birthday aussie and many more to come
🙂
[07:54 am] apple : yes, cowboy
but we still have homework…
[07:54 am]
mikewd2 -: NUS chart similar to HLF
[07:54
am] jsn13 : sorry joey, for ES and YM,
the required margin is 500 or
5,000?
[07:54 am] aussie123 : Gee
whiz thanks again…dont feel a day aver
79
[07:55 am] apple : haha, best of
everything, especially good health
[07:55
am] elisha :
https://www.youtube.com/watch_popup?feature=p
layer_embedded&v=nj2ofrX7jAk
[07:5
5 am] elisha : i hope that is
it!
[07:57 am] elisha : and no Taco
– that isn’t me at the start of it
[07:57
am] elisha : !
[07:57 am] taco
: lol
[07:58 am] apple : yes, that’s
it, thx.
[07:58 am] mikewd2 -:
GMCR
[07:59 am] apple : nice move
off bottom on GMCR
[08:01 am] mikewd2 -:
CRTX
[08:01 am] mikewd2 -: CTRX
sorry
[08:05 am] mikekw : should i
be hear audio from Mitch speaking or is the
chat just typed?
[08:06 am] taco :
just typed mike welcome
[08:06 am]
mikekw : thanks
[08:13 am]
skydiver : my time is up . . . Happy
and a Blessed New Year to all — looking
forward to the future — see you all next
year 🙂
[08:13 am] taco : c ya sky,
be safe
[08:13 am] jsn13 : taco,
what is ur facebook name? Can i add u on
fb?
[08:14 am] taco : sure
[08:14
am] taco :
[email protected]
[08:14 am]
taco : that’ll find me
[08:14 am]
apple : all the best in the new year,
sky
[08:15 am] skydiver :
🙂
[08:16 am] jsn13 : ok taco i just
added u on fb….
[08:16 am] taco :
nice car:)
[08:16 am] jsn13 : i
rented it…so not mine…
[08:18 am]
shark : just like we rent our
stocks?
[08:18 am] apple : right
shark, use em and lose em
[08:19 am]
shark : 😉
[08:19 am] shark :
yeah, I’m done with AAPL for now
[08:19
am] shark : 30 min rental
[08:19 am]
apple : me too
[08:19 am] taco
: i’d like to see aapl touch 517 again or
around it
[08:24 am] jsn13 : nice
rental shark….this kind of rental can earn
u money istead of costing u….i like
this…
[08:25 am] elisha : bye sky
– just saw your exit
[08:25 am]
shark : 😉
[08:25 am] apple :
why buy when you can rent?
[08:26 am]
mikewd2 -: Biden, McConnell closing in on tax
deal, Politico says
[08:26 am] Ed : why
rent when u can take, o sorry was thinking of
govt.
[08:26 am] apple : lol E,
gm
[08:26 am] Ed : gm
[08:27 am]
shark : they are in the business of
selling votes, Ed.
[08:27 am] elisha
: you know the old joke – don’t steal, the
government hates competition
[08:27 am] Ed
: true
[08:27 am] joeytsa : jsn: you
still here?
[08:27 am] Ed : good eye this
am alos mike on HLF
[08:28 am] shark
: agreed, HLF
[08:28 am] jsn13 : yup
im here joey…
[08:28 am] joeytsa :
/ES is $500, but i dont recommend using
that..maybe start with
$5000/contract
[08:29 am] jsn13 :
what do u mean by start with 5000 per
contract?
[08:30 am] joeytsa : trade
1 contract for every $5000 in your
account
[08:30 am] joeytsa : just
gives you room to make mistakes 🙂
[08:31
am] joeytsa : once you get
experiences/comfortable, then you can
lower it
[08:31 am] jsn13 : ok
understand thanks joey…i like to start by
looking at the amount that u r willing to
lose if got stopped on each trade to decide
on the position size…
[08:32 am]
taco : what’s ratio of r/r for
going long apple at 522?
[08:32 am]
taco : when it hit there a few mins
ago
[08:32 am] joeytsa : makes sense
jsn
[08:33 am] joeytsa : taco: just
sent you a friend request on
facebook
[08:33 am] jsn13 : taco,
maybe 524.5 as potential target?
[08:34
am] taco : nice thanks joey
[08:34
am] joeytsa : my pic is of willy wonka
today 🙂
[08:35 am] go4it : How do
you determine stop on a swing trade like
HLF?
[08:36 am] elisha : does it go
under the current days low or the day
before’s low?
[08:38 am] Ed : some use
different methods, on original position I
placed stop below the low by few cents I took
some profit cuz it had nice move then on rest
using few cents below low pf prev. day for
stop, Keep in mind Im far in money
also
[08:38 am] taco : did you go
long on second bounce off 522.5 Ed?
[08:39
am] Ed : i was speaking of HLF swing
trade
[08:39 am] go4it : Thanks
Ed
[08:39 am] Ed : no was waiting for AAPL
and missed the train taco
[08:39 am]
taco : that’s higher odd
right?
[08:39 am] elisha : Thanks,
Steady Eddy, for answering countless and
relentless questions
[08:40 am] Ed : I
looked for best price as possible on
12/26 and place stop below low of
12/24
[08:40 am] Ed : I added to position
on higher low on 12/27 after getting
confirmation of trend change
[08:40 am]
jsn13 : what price were u waiting for
Ed on AAPL long just now?
[08:41 am] Ed :
then took profits on friday
12/28
[08:41 am] Ed : no particular price
was looking at pattern
[08:41 am] Ed :
prev. comments are on HLF swing
[08:42 am]
Ed : Mith is the swingger of all swinggers,
speaking in terms of investing
[08:42 am]
taco : haha
[08:43 am] apple :
haha
[08:43 am] Ed : have to be specific
dont want anyone to get wrong idea
[08:43
am] joeytsa : haha
[08:43 am]
joeytsa : new name is Mitch
Swing?
[08:43 am] Ed : sounds good to
me
[08:43 am] jsn13 : Ed, so did u
add to ur HLF swing during the day on 12/27?
how do u be sure of the higher low before the
bar closed?
[08:43 am] joeytsa :
better than Mitch Shawing 🙂
[08:44 am] Ed
: if stock does not take out prev days low,
lets u know trend up is still
intact
[08:44 am] Ed : makes
sense
[08:45 am] Ed : and viusally one can
see it, atleast I can
[08:45 am]
jsn13 : yup thanks ed….then what
price did u take profit on HLF swing on
friday?
[08:45 am] go4it : So Joey
at this point with stock trading 31.37 and
target of 35 that would be a r/r of 3:1 is
that correct?
[08:46 am] Ed : it was in
30s cant recall exactly
[08:46 am] Ed :
Its in my swing acct, which is different from
trading acct
[08:46 am] joeytsa :
bruce: where is the stop set?
[08:47 am]
jsn13 : ok no prob ed….i can see ur
rationales….do u use 15min chart for ur
swing entries?
[08:47 am] go4it :
29.78
[08:47 am] Ed : actually I started
getting excited and when that happens I know
its time to take some off
[08:47 am] Ed :
i dont like when emotions creep in, messes
with my head
[08:47 am] joeytsa :
pretty close bruce
[08:48 am] jsn13
: haha agree…need to have that contrarian
mindset….if not greed can kick
in…
[08:48 am] Ed : can happen to any of
us
[08:48 am] joeytsa : risking
approx $1.60 to make $3.60
[08:48 am]
go4it : that’s what i thought . just
wanted to confirm with king of r/r
thanks
[08:49 am] joeytsa : closer
to 2:1, i wouldnt go any lower than
that
[08:49 am] go4it : gotya tks
J
[08:50 am] joeytsa : thats a swing
trade bruce?
[08:50 am] jsn13 : ed,
did u take 1/2 or 3/4 off on HLF
swing?
[08:51 am] go4it :
yes
[08:51 am] joeytsa : gotya, then
you can adjust your share amount to fit in
with your risk level
[08:52 am]
go4it : yes small position
[08:56
am] joeytsa : black monday hitting nfl
coaches hard today
[08:56 am] go4it
: heads rolling?
[08:57 am] joeytsa
: yeah lots
[08:57 am] Ed : took off
3/4
[08:57 am] taco : feels like i’m
going thru puberty and can’t wait to be able
to hang with my older brothers and sisters at
the proficiency bar
[08:58 am] jsn13
: ok thanks ed……nice….will ask
questions only after ur
lunch….haha…
[08:58 am] joeytsa
: watching /ES range 1399-1402
[08:58 am]
Ed : hey jsn, does ur professor give you his
check after class???
[08:59 am]
jsn13 : haha no….
[09:00 am]
qwert : NFLX testing 92
[09:00 am]
joeytsa : been watching $92 for 2 hours
haha
[09:01 am] qwert : my alert
just went off hahaha
[09:01 am]
joeytsa : would think a nice quick move
could happen
[09:01 am] joeytsa :
markets seem kind of quiet though
[09:01
am] mikewd2 -: finally took 30 cents on HLF,
been watching all morning
[09:04 am]
joeytsa : nice mike
[09:04 am]
qwert : curious to see what happens
when a cliff deal is announced
[09:05 am]
joeytsa : probably happen when i am
away from teh computer
[09:05 am]
joeytsa : going to leave early today,
take wife to see Les Mis early so i can come
home and watch the games tonight 🙂
[09:06
am] mikewd2 -: nice joey, have fun
[09:06
am] qwert : saw Les Mis over the
holiday was good
[09:06 am]
joeytsa : not leaving just yet..show is
at 11:30
[09:06 am] joeytsa : heard
great things about it
[09:06 am]
qwert : also saw Django was very good
and less singing :))
[09:07 am]
shark : the movie or the play,
joey?
[09:07 am] joeytsa :
movie
[09:07 am] qwert : by the way
Congrats to the Redskin fans
[09:08 am]
joeytsa : 🙂
[09:08 am] lisas
: Hail
[09:08 am] joeytsa : my
throat is still sore from yelling
[09:09
am] qwert : hahaha new you were a
fan
[09:09 am] joeytsa : since
1971
[09:09 am] qwert : wow thats
pre hogs right?
[09:10 am] joeytsa :
yeah, goes back to the “over the hill gang”
era
[09:10 am] qwert : cool ive been
a Charger fan since early 80’s
[09:11 am]
joeytsa : sorry, norv is terrible,
should be fired by the end of the
day
[09:11 am] qwert : yeah i hope
so
[09:13 am] qwert : Qihu finally
below 28.70
[09:14 am] joeytsa : are
you short QIHU?
[09:14 am] qwert :
yeah still have some from earlier
[09:14
am] joeytsa : nice
[09:15 am]
jsn13 : qwert, around what time was ur
entry on QIHU short?
[09:15 am] mikewd2 -:
DECK still moving up
[09:15 am]
shark : yeah, nice move
[09:15 am]
qwert : around 7:30pst
[09:16 am]
joeytsa : cant remember the last time i
held a stock that long haha
[09:16 am]
jsn13 : qwert, do u use divergence as
ur signal?
[09:17 am] go4it : NFLX
making another run at 92
[09:17 am]
shark : run, NFLX, run
[09:17 am]
qwert : same here only reason i still
have it is hadnt bumped down my stop when i
normally would have
[09:18 am] jsn13
: qwert, the reason u went short was bcos of
the divergence or a failed
breakout?
[09:19 am] qwert : jsn i
liked the low risk entry and it went up 60
cents in four mins and high volume
[09:21
am] jsn13 : ok those parabolic
move….nice trade qwert….
[09:21 am]
qwert : thx still in
[09:22 am]
joeytsa : nice qwert, i wouldnt have
shorted that
[09:22 am] joeytsa :
shows that every trader sees things
differently
[09:23 am] joeytsa : /GC
just gave sell signal, still looks like it
has some upside though
[09:23 am]
joeytsa : nice 5pt run though
[09:24
am] taco : yes HLF and MED
[09:24
am] qwert : joey nflx at 92
[09:24
am] joeytsa : yep
[09:25 am]
joeytsa : would like to see a push
thru, then re-test
[09:25 am] qwert
: was thinking the same thing its really
struggling
[09:26 am] victor51 :
Mitch, I took MED on swing. Missed
HLF
[09:26 am] apple : hey
victor
[09:29 am] victor51 : Hi
Apple, you must be enjoying fresh snow
there
[09:30 am] apple : no snow…
which i am grateful for
[09:31 am]
apple : thx MK, i got a jan 35 call
earlier on HLF
[09:31 am] victor51 :
Thanks Mitch. Great call .Just need to
capitalize on your great ideas in 2013,
starting today.
[09:37 am] joeytsa :
qwert: NFLX sure doesnt want $92 just
yet
[09:37 am] joeytsa : /GC still
have 3pts upside
[09:39 am] mikewd2 -:
Mitch, what you think about selling put, jan
19 – 30 is 2.20
[09:39 am] mikewd2 -: re:
HLF
[09:40 am] apple : no, no, got
it this morning. entry is 1.40 price
now is 1.70
[09:40 am] joeytsa :
tighten if long /ES on that breakthru of
1402
[09:41 am] reshef :
TBT
[09:41 am] mikewd2 -: AAPL moving
again
[09:42 am] joeytsa : nice
5-6pt move on/ES
[09:43 am] taco :
were you in that joey?
[09:43 am] mikewd2
-: right, that is the put i’m considering
writing
[09:43 am] apple : /ES at
hod
[09:44 am] mikewd2 -: execellent call
Mitch
[09:45 am] joeytsa : itm calls
are less risk
[09:45 am] joeytsa :
for swings
[09:46 am] mikewd2 -: main risk
is ackman opening his mouth again on
HLF
[09:46 am] joeytsa : no
kidding
[09:47 am] mikewd2 -: out AAPL
call
[09:47 am] apple : nice
mike
[09:48 am] apple : thx
MK
[09:48 am] mikewd2 -: markets busting
out, thinking deal is coming from
Obama
[09:48 am] qwert : monitoring
SLW
[09:48 am] mikewd2 -: AGQ
moving
[09:49 am] mikewd2 -: HLF new
hod
[09:51 am] joeytsa : huge move
on /GC also
[09:51 am] mikewd2 -: Obama to
make statement on fiscal cliff talks at 1:30
pm ET, Bloomberg says
[09:52 am]
apple : thx mike
[09:52 am] mikewd2
-: gold spiking up – up 22.8
[09:54
am] mikewd2 -: I think the naked put is a
good way to play it mitch
[09:55 am]
taco : s SLW 35.88
[09:55 am]
mikewd2 -: dang missed exiting AGQ
long
[09:55 am] mikewd2 -: got
greedy
[09:55 am] mikewd2 -: silver, gold
could fall back on a deal
[09:56 am]
mikewd2 -: My main issue is how to handle
stops on swings
[09:56 am] mikewd2 -: do
you do stops that are active during
premarket
[09:57 am] mikewd2 -: suggestion
Mitch?
[09:57 am] mikewd2 -: but do you
have the stop’s active during
premarkets/aftermarkets?
[09:58 am]
lisas : Mike, stops after hours have to
be limit orders, hard to do. Also, liquidity
leads to crazy moves after hours
sometimes
[09:59 am] apple : hey
lisa
[09:59 am] lisas : then by open
it settles down
[09:59 am] lisas :
Hi apple
[09:59 am] lisas : got last
of family off to the airport today
[09:59
am] mikewd2 -: right, I don’t like stops
after hours but wanted to here Mitch’s take
on it
[10:00 am] mikewd2 -: added to AGC
postiion off 43.75 pivot
[10:00 am]
lisas : would be interestingt to hear,
think he’s on a roll on another thought
chain
[10:00 am] mikewd2 -: sorry
AGQ
[10:02 am] lisas : Thanks for
the tip Mitch
[10:02 am] taco :
thanks Mitch
[10:03 am] qwert :
NOW
[10:03 am] apple : thx MK, makes
sense
[10:09 am] taco : Mitch, for
ninja, how do you update stock symbols? the
list changes throughout the year.?
[10:09
am] reshef : BC
[10:09 am]
joeytsa : good lesson Mitch
[10:10
am] qwert : if anyone else shorted NOW
would cover some here
[10:10 am] mikewd2
-: haha: CNBC says Obama appearance at 1:30
may not be for deal announcement
[10:10
am] taco : i missed NOW because it
wasn’t in my list
[10:11 am] joeytsa
: both /GC and /ES gave nice pullbacks
also
[10:12 am] apple : what?
just to wish us happy new year?
[10:12 am]
joeytsa : last /GC pullback was a dbl
top with neg div
[10:12 am] qwert :
lol apple
[10:12 am] mikewd2 -: out AAPL
calls, for third time today
[10:12 am]
qwert : nice mike
[10:12 am]
apple : good one mike
[10:13 am]
joeytsa : nice mike
[10:13 am]
elisha : wow mike
[10:13 am] mikewd2
-: playing 5 calls on sell off’s
[10:14
am] mikewd2 -: FSLR
[10:14 am] apple
: good for you
[10:14 am] mikewd2 -: no
short shares FSLR at TS, bouncing off
pivot
[10:15 am] elisha : I’ll agree
with you Mitch. As a former buyer
turned temporary waitress I can say whatever
it takes to succeed at this is better than
that!
[10:15 am] qwert : they have
them a tlightspeed FSLR
[10:17 am]
taco : IB too
[10:17 am] mikewd2 -:
might not be much money in that
short
[10:18 am] elisha : lightning
just gave sell signal on 1 minute
[10:18
am] elisha : on FSLR
[10:19 am]
joeytsa : thanks
Mitch,Ed,everyone..taking off early
[10:19
am] Ed : c ya joey
[10:19 am]
joeytsa : Have a Happy and Safe New
Years Eve..see you all on wednesday
[10:19
am] elisha : bye joey – enjoy les
miz
[10:19 am] mikewd2 -: hugh vol spke on
FSLR
[10:19 am] qwert : Have a Happy
New Year joey
[10:20 am] taco : c ya
joey
[10:20 am] mikewd2 -: bye
joey
[10:20 am] go4it : happy new
year Joey enjoy the show
[10:20 am]
lisas : by joey joey! Have a great New
Years! HTTRS!
[10:20 am] joeytsa :
HTTR !!!!
[10:20 am] apple : bye
joey, have a wonderful new year
[10:20 am]
joeytsa : 🙂
[10:21 am]
joeytsa : thats Hail to the
Redskins..not a stock symbol 🙂
[10:21 am]
lisas : OOPs!
[10:21 am] apple
: haha, just figured that out a few seconds
ago
[10:21 am] apple : i am getting
pretty good
[10:21 am] elisha :
what? I just 10000 shares
[10:21 am]
lisas : good, not a real
symbol
[10:21 am] mikewd2 -: HLF still
motoring up
[10:21 am] qwert :
hahahha
[10:21 am] lisas : it’s a
winner elisha
[10:21 am] taco :
haha
[10:22 am] elisha : finally
lisas
[10:22 am] mikewd2 -: already up 10%
on naked puts
[10:22 am] taco : nice
mike
[10:22 am] elisha : when are
you writing your book mike?
[10:22 am]
mikewd2 -: becareful: Obama fixing to
talk
[10:22 am] lisas : or at least
post of facebook Mike
[10:22 am]
elisha : lol
[10:22 am] mikewd2 -:
AGQ falling
[10:23 am] mikewd2 -: as
expected
[10:25 am] mikewd2 -: watching
RIG
[10:25 am] mikewd2 -: for
breakout
[10:25 am] mikewd2 -: not
reversal
[10:31 am] mikewd2 -: C
moving
[10:38 am] mikewd2 -: watching SPW
at 70.00
[10:42 am] mikewd2 -: Obama’s
posse taking the stage,
[10:42 am]
qwert : cant do anything without the
posse 🙂
[10:43 am] mikewd2 -:
haha
[10:44 am] mikewd2 -: Obama on
stage
[10:45 am] elisha : Have to
leave early myself. I wish for you all next
year exciting days and peaceful sleep at
night.
[10:45 am] elisha : Lots of
people in your life to love and who love
you.
[10:46 am] elisha : Hope and
harmony and happiness
[10:46 am]
elisha : Happy New Year to all and God
bless you
[10:46 am] apple : same to
you elisha all the best
[10:47 am]
elisha : thx apple
[10:47 am]
qwert : bye Elisha have a Happy New
Year
[10:47 am] Ed : c ya elisha
[10:47
am] taco : bye elisha, happy new
year
[10:54 am] mikewd2 -: ahh, he has to
work new years eve
[10:54 am] mikewd2 -:
and cut his vacation in hawaii short – dang
he should quit!
[10:54 am] mikewd2 -: back
in AAPL call
[10:55 am] taco : HLF
trend change
[10:56 am] mikewd2 -: longs
are good as long it stays above 32.30 taco,
IMO
[11:10 am] jsn13 : Ed, what does
the divergence in momentum means? do u use
them as hints of potential
reversal?
[11:13 am] electrader :
Sorry for the delay, Mitch. I was at
lunch.Yes you are correct .
[11:14 am]
electrader : At that point you would
still have to prove yourself as a journeyman
to get a select job. Probably a good
7-8 year process in total
[11:17 am]
mikewd2 -: BPT trying to break its daily
downtrend
[11:19 am] reshef :
WBC
[11:20 am] mikewd2 -: nice one
reshef
[11:23 am] mikewd2 -: HLF
bouncing
[11:25 am] mikewd2 -: out AAPL
calls, like these 4 – 5 point moves
[11:25
am] qwert : mike which ones are you
trading
[11:26 am] mikewd2 -: weekly
520
[11:27 am] qwert :
nice
[11:28 am] qwert : so are you
getting about .70 cents for each
dollar
[11:28 am] reshef :
DUST
[11:29 am] mikewd2 -: yep, very close
to that
[11:30 am] qwert :
nice
[11:30 am] qwert : thats the
Delta in options right?
[11:30 am] mikewd2
-: AAPL broke 530.00
[11:33 am] mikewd2 -:
watching CBI
[11:42 am] mikewd2 -: time to
get ready to celebrate new year – by guys be
safe!
[11:42 am] taco : c ya mike,
you too
[11:45 am] victor51 : Hi
Mike,
[11:45 am] victor51 : Are you
looking long for CBI?
[11:47 am]
taco : s AAPL sim 530.99
[11:49 am]
Ed : dont use that much if at all
jsn
[11:49 am] Ed : I think some others
may
[11:49 am] jsn13 : ok thanks
ed…..nice to know….
[11:50 am]
taco : stopped
[11:50 am] Ed : I do
know best not to use by itself,
[11:51 am]
jsn13 : yes u need other component to
add to the analysis…
[11:52 am]
jsn13 : ed, do u have any futures
trades today?
[11:52 am] Ed : Mr. taco u
went countertrend??
[11:52 am] Ed : no
trades today, will get back at it next week
with futures
[11:53 am] taco : i was
hoping it was changing the trend
then
[11:53 am] jsn13 : ok ed….no
prob….
[11:53 am] Ed : hey taco, on
AAPL, its a tough one, best to trade the
trend on that one, its like wild
horse
[11:54 am] Ed : just giving myself
little break on futures
[11:54 am]
jsn13 : taco, AAPL actually broke hod
by 1 cent when u entered…and not too clear
of a resistance level….
[11:54 am]
taco : thanks Ed and jsn
[11:55 am]
jsn13 : Ed, u r making too much money?
or lost too much?
[11:55 am] Ed :
neither
[11:56 am] jsn13 : ok
nice…u just need a mental break
then…
[11:56 am] Ed : since I dont take
long breaks like weaks at a time, I tend to
pullback on trading of some instruments,
thats my break
[11:56 am] Ed :
weaks=weeks
[11:57 am] reshef :
LVS
[11:59 am] apple : thx
reshef
[12:00 pm] taco : better
resistance to short aapl here
[12:00 pm]
Ed : i would pick on a weak stock, they can
really ramp AAPL and resistance becomes like
butter
[12:04 pm] taco : odds
improve over my last idea, even if is not
best set up.
[12:04 pm] cowboyh : By
all be safe tonight and have a good time see
ya wed am
[12:05 pm] apple : happy
new year to you cowboy – all the best
2013
[12:05 pm] Ed : c ya cowboy
[12:05
pm] taco : i’m picking a lot up over
last few trading sessions thanks
all
[12:05 pm] taco : bye
cowboy
[12:06 pm] Ed : understood, but
makes life tad easier hitting those high %
trades, just saying
[12:06 pm] taco
: right ed
[12:07 pm] Ed : Its alright
going counter, but just know that u want to
treat it as scalp, another strategy take more
precision
[12:08 pm] Ed : If u dont hit
those counters correctly can where u out and
down as far as account
[12:08 pm]
jsn13 : 21 SMA is very helpful for this
type of counter trend quick
scalps….
[12:09 pm] Ed : Looking for
double tops, higher lows etc, will help,
making sure trend has changed, this more
conservative play for countertrends
[12:09
pm] Ed : rather lower high
[12:09 pm]
taco : right
[12:12 pm] jsn13
: ed, what time was ur entry on
VXX?
[12:13 pm] Ed : 3:03 est
[12:14
pm] jsn13 : may i know ur 1st exit
point if u have exited…thanks…
[12:16
pm] Ed : 3:12 out 100%
[12:17 pm]
taco : nice trade ed
[12:17 pm]
jsn13 : ok thanks ed….
[12:18 pm]
Ed : thx
[12:18 pm] apple : E is
great
[12:19 pm] taco : you’re
pretty great too apple
[12:20 pm]
taco : from first impressions
anyways;)
[12:20 pm] qwert : Good
bye everybody have a great New
Year cya all next year be safe
tonight
[12:20 pm] taco : thx qwert
u 2
[12:21 pm] qwert : You guys are
the best
[12:21 pm] apple : qwert
wishing you and your family all the best in
2013
[12:21 pm] qwert : I love this
room :))
[12:21 pm] apple :
thx taco — back at ya!
[12:21 pm]
apple : we are all great!
[12:24 pm]
taco : nice pullback in NUS
[12:25
pm] Ed : after today, I will not be here
until next year
[12:25 pm] lisas :
such a long time?
[12:26 pm] taco :
oh no
[12:26 pm] apple : haha, we
will see you then!
[12:26 pm] Ed : is that
like 2 days
[12:26 pm] Ed : thats a long
time
[12:26 pm] apple : seems like
forever…
[12:35 pm] reshef :
DAR
[12:38 pm] apple : i just wanted
to take this moment to wish everyone the very
best in 2013. — health, wealth and
happiness. we have such a great group
here.
[12:38 pm] Ed : i like “dem
apples” 🙂
[12:38 pm]
apple : lol
[12:41 pm]
victor51 : I echo same Apple . We got a
great trading family and Mitch and Ed is
always there when we need
guidence..
[12:42 pm] apple : and we
all help one another… best
family!
[12:48 pm] reshef : Happy
new year Mitch, Ed, and all tradeds
[12:48
pm] Ed : thank you and same to you as well
reshef
[12:49 pm] taco : it’s
already 2013 there isn’t it reshef?
[12:49
pm] apple : happy new year reshef,
wishing you the very best in 2013
[12:57
pm] apple : you too, E – wishing you
all the best in 2013 and beyond!
[12:57
pm] lisas : Happy New Years to all as
well. Thanks to everyone!
[12:59 pm]
apple : wishing you the best, lisa,
always
[12:59 pm] taco : thank you
Mitch, Ed and all have a safe and fun
night
[01:00 pm] apple : you as
well, taco – all the best in 2013
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