[06:17 am] Mitch K: we should
[06:18 am] Brent : good morning
[06:20 am] Mitch K: the market is likely to
continue the downtrend that started on
Friday. Focus is shifting toward the debt
ceiling standoff between the Democrats and
Republicans. Also, carryover from the 9.2%
Unemployment report on Friday and more
worries from the Eurozone. I think this
downtrend may last for possibly several
weeks
[06:33 am] Kris : MGM long
[06:34 am] Mitch K: watching for short in
LVS
[06:35 am] Kris : VMED short
[06:37 am] Kris : out half MGM long
[06:37 am] Kris : stop second half MGM long
under 14.97
[06:37 am] Kris : watching HAS for a long
[06:37 am] Mitch K: LVS turning over
[06:38 am] Kris : MRO short below 31.90
[06:38 am] Kris : out half VMED short
[06:38 am] Kris : stop second half VMED over
28.43
[06:38 am] Mitch K: watching VHC
[06:39 am] Brent : watching SWC for a
bounce
[06:39 am] Kris : TVIX short
[06:39 am] Kris : YOKU long
[06:40 am] Kris : LRCX long half position
[06:40 am] Kris : out another 1/4 VMED
short
[06:41 am] Kris : will watch MLM for a bounce
to short into
[06:41 am] Mitch K: consider covering LVS
45.55,
[06:42 am] Brent : may be a good short on new
low, SWC
[06:42 am] Brent : SWC, I’ll pass on long
[06:43 am] Kris : looking for a weak bounce
in VMED and then a new low
[06:43 am] Kris : MOS short half position
[06:43 am] Kris : SPY coming up on lod
support
[06:43 am] Mitch K: watching VHC for short
[06:44 am] Kris : out half YOKU long
[06:44 am] Kris : stop second half YOKU under
39.34
[06:45 am] Kris : out another 1/4 YOKU
long
[06:45 am] Kris : stop last 1/4 YOKU under
39.46
[06:45 am] Mitch K: VHC toppy
[06:46 am] Kris : advanced trade EBAY
[06:46 am] Kris : EBAY ALERT
[06:46 am] Kris : EBAY long
[06:47 am] Kris : LRCX consolidating, looking
for a breakout to new hod[06:47 am] Kris :
out all YOKU long
[06:47 am] Kris : out half EBAY long
[06:48 am] Brent : consider reducing SWC
short
[06:48 am] Kris : out another 1/4 EBAY
long
[06:48 am] Kris : stop last 1/4 EBAY under
33.67
[06:49 am] Kris : RBCN long
[06:49 am] Mitch K: watching for short in
SODA, prefer above 75
[06:49 am] Mitch K: watching LRCX
[06:49 am] Mitch K: watching NFLX
[06:50 am] Kris : out half LRCX long
[06:51 am] Brent : reduce more SWC
[06:51 am] Brent : stop rest over 21.71 on
SWC
[06:51 am] Kris : out another 1/4 LRCX
long
[06:51 am] Kris : stop second half LRCX under
45.54
[06:52 am] Kris : out half RBCN long
[06:52 am] Kris : stop second half RBCN long
under 17.94
[06:53 am] Kris : SPY new hod[06:54 am] Kris
: CSTR long half position
[06:54 am] Mitch K: watching ANF for short
[06:54 am] Mitch K: watching HAL for short
[06:55 am] Kris : BUD long half
[06:55 am] Kris : out all LRCX long
[06:56 am] Brent : watching CBOU for a short.
Resistance around $14.50
[06:56 am] Kris : VMED new lod[06:58 am] Kris
: short second half MOS
[06:58 am] Mitch K: ANF turning over
[06:58 am] Mitch K: HAL turning
[06:58 am] Mitch K: rebounds peaking now
[06:58 am] Mitch K: YOKU turning over
[06:59 am] Mitch K: LRCX turning over
[06:59 am] Mitch K: watching KSS for short
soon
[07:01 am] Brent : Consider reducing CBOU
short
[07:02 am] Mitch K: consider covering HAL
here 53.10
[07:04 am] Kris : out half MOS short
[07:05 am] Brent : will watch for a long on
SWC if it gets to the 20.70 area
[07:05 am] Kris : SIAL short half position
[07:05 am] Kris : stop second half MOS over
68.23
[07:06 am] Mitch K: consider covering ANF
around 72.30 area
[07:09 am] Mitch K: consider short in SGEN,
turning over, little late
[07:09 am] Mitch K: new low of day on
SP500
[07:10 am] Kris : out another 1/4 MOS
short
[07:10 am] Mitch K: watching AMRN
[07:11 am] Kris : long second half BUD
[07:11 am] Kris : SPY new lod[07:11 am] Kris
: stop BUD under 55.34
[07:12 am] Brent : watching SWC for a
bounce
[07:14 am] Kris : ALV short half position
[07:14 am] Mitch K: watching V
[07:18 am] Mitch K: consider covering SGEN
soon, 20.50
[07:22 am] Brent : yeah still watching SWC
forgetmenot. Watching it on a 3min chart.
[07:22 am] Kris : looking for a new low in
MOS
[07:22 am] Mitch K: SP500 low of day
[07:22 am] Mitch K: V moving up
[07:25 am] Kris : out all MOS short
[07:25 am] Kris : out half BUD long
[07:26 am] Kris : looking for a new lod in
MRO
[07:26 am] Mitch K: watching WMS
[07:27 am] Mitch K: consider covering YOKU
soon
[07:28 am] Mitch K: watching IGT
[07:30 am] Mitch K: consider reducing V
long
[07:31 am] Mitch K: IGT turning over too
[07:31 am] Mitch K: WMS turning over
[07:34 am] Mitch K: also consider covering
WMS here 29.80 area
[07:34 am] Mitch K: consider covering IGT
short here 18.50 and look for 2ndhelping
later
[07:35 am] Kris : BID short
[07:35 am] Kris : make it a half position on
BID short
[07:36 am] Mitch K: watch for 2nd helping
short on CBOU, missed 1st
[07:37 am] Kris : out half ALV short
[07:37 am] Kris : SIAL consolidating near
lows. Looking for a new lod.
[07:37 am] Mitch K: watch IGT for 2nd helping
short around 18.72
[07:38 am] Kris : out another 1/4 ALV
short
[07:39 am] Mitch K: IGT short resuming
[07:40 am] Kris : out all ALV short
[07:41 am] Kris : watching for a long in
SWC
[07:43 am] Brent : even numbers provide
natural resistance Reacher[07:43 am] Brent :
yes
[07:43 am] Kris : out another 1/4 BUD long
[07:44 am] Brent : you’re correct
Reacher[07:45 am] Kris : CMA short below
32.90 with strong volume
[07:57 am] Kris : MRO still looking weak
[07:58 am] Kris : CHKP short half position
[08:02 am] Brent : watching SINA for a
bounce
[08:02 am] Kris : out half SIAL short
[08:04 am] Kris : TZOO ALERT
[08:05 am] Kris : CHKP getting no love
[08:05 am] Kris : watching YOKU for a long
[08:05 am] Kris : YOKU support around
35.00
[08:12 am] Kris : does that answer your
questions alusi?
[08:12 am] Kris : yes, I’m still short CHKP,
looking to add my second half soon.
[08:13 am] Kris : those that got YOKU long
off that low, look to take some profit here
in this area and move up your stop on
remaining position.
[08:14 am] Kris : YOKU lod was at 11:07
[08:20 am] Brent : consider reducing SINA if
long
[08:21 am] Kris : YOKU coming into more
resistance here, look to take more off and/or
tighten your stop if long.
[08:25 am] Kris : short second half CHKP
[08:25 am] Mitch K: YOKU shortable here, try
37.50 area
[08:28 am] Kris : long small position SWC
[08:28 am] Mitch K: watching ANF for 2nd
short helping, 72.25+ area
[08:31 am] Brent : SINA consolidating,
looking for 106.50 area next target with a
stop below 105
[08:35 am] Mitch K: COH toppy now
[08:35 am] Mitch K: watching COH for short
[08:38 am] Kris : I’ll stop SWC below 19.64.
Will add on pullback and hold near lod.
[08:44 am] Brent : reduce more SINA long
here
[08:45 am] Brent : 107.50 next target on
SINA, stop below 106
[09:00 am] Brent : consider closing SINA or
trail your stop up if still long
[09:30 am] Mitch K: I don’t see the market
indexes making any big moves up today
[09:38 am] Mitch K: the COH is over now
[09:38 am] Mitch K: the COH short
[09:45 am] Mitch K: this is the daily chart
on the SP-500 and i see more downside
probably going into tomorrow morning with a
general downward trend for 2-3 weeks. If we
have more selling into Tuesday morning. We
should see a pretty good rebound attempt and
I’d watch for a strong move up for long
scalps.
[09:49 am] Mitch K: This market is totally
news driven and most of the attention is on
the US budget that is not worked out yet. It
is a really interesting “game of chicken” the
White House and Republicans are playing but
the consequences are a technical default in
early August if there is no budget or debt
ceiling raised.
[09:52 am] Mitch K: So if Standard and Poors
(S&P) rates our debt in technical
default, like they said they would if no
agreement by August 2nd, I would think the
financial markets are really going to go
down. World markets would react by selling.
Moody’s said they will drop the US debt
rating from AAA to Aa-
[09:57 am] Brent : watching CLX for a short.
Needs to move up more though for more profit
potential
[09:57 am] Mitch K: I’m trying to figure out
Obama’s strategy on this. My guess is he
probably knows he isn’t likely to get
re-elected based on the 9.2% unemployment
rate and other economic data. So he might be
thinking if he plays hardball with the
Republicans on the budget that he would be
viewed as a hero to the American public
[09:58 am] Mitch K: acting like a rumor,
CLX
[09:58 am] Mitch K: watching CLX
[10:05 am] Mitch K: but if we go into
technical default on Obama’s watch, for sure
he won’t get re-elected because the
Republicans will campaign against him as the
only US President to let the country go into
technical default. Either way, day trading
is going to be really good (volatile) because
of this. swing trading could be higher risk
though
[10:06 am] Mitch K: going to be a 2nd helping
in CLX soon
[10:06 am] Mitch K: probably right there it
peaked for 2nd time around 69.53 on CLX
[10:12 am] Mitch K: I don’t see any news on
CLX
[10:12 am] Mitch K: Joey, the Italian
situation is going to just another problem,
another domino that falls in Europe, I would
think Greece, Portugal, Spain, Italy all go
down. Who knows, maybe even the Euro as a
currency goes away the next 5 years
[10:30 am] Mitch K: hey qwert, NBL daily
chart on left side. my guess is around $87
but these swing trades short might really
drop a lot more than usual
[10:31 am] Mitch K: and the LBTYA daily chart
now should easily get under $43
[10:31 am] Mitch K: where did you short those
qwert?
[10:35 am] Mitch K: good entries…. were
those executed at the open price on the 7th
for LBTYA qwert? That’s what I do, often at
market since it is easier to handle a high
workload that way, with a lot of different
stocks and tasks to do
[11:29 am] Brent : SWC getting some
increasing volume
[11:31 am] Kris : SPY coming up on some key
support here
[11:38 am] Mitch K: watch for 2nd short on
CLX, should start rebounding now. 71.10+
would be interesting
[12:40 pm] Mitch K: yeah dimitry, SWC does
look interesting as long swing
[12:54 pm] Kris : watch for the SPY to close
near the lod. another bearish market sign
below support on the daily. Could have
another few days to the downside barring
positive news.
[01:01 pm] Kris : everyone have a great
night. see you back here tomorrow.
[01:02 pm] Brent : Have a great night
everyone, see you tomorrow
[01:02 pm] Mitch K: later guys and gals
|
[06:02 am] baz6308 : absolutely
[06:02 am] baz6308 : looks a bit bumpy this
am
[06:02 am] lorie : JVA
[06:02 am] lorie : that can be good
baz[06:03 am] baz6308 : $2 scalp could have
been had pre market
[06:19 am] lightning : good week last
week…let’s have another one! Good luck
today
[06:26 am] mikewd2 -: big move on RBCN
premarket
[06:41 am] mhaus : WRC
[06:46 am] leo : MRO alert
[06:55 am] joeytsa -: CBOU watch
[06:58 am] sfarrill : LNKD watch
[07:04 am] scalpman : Out half ANF S
[07:06 am] forgetmenot : covered VHC thx
mking[07:09 am] joeytsa -: Great ANF short
Mitch !!![07:17 am] niko : Thank you for SWC
Srs.
[07:18 am] 3be : plyon..week 3 for
me..finally getting it..paper trade and
track
[07:18 am] mriguy -: CBOU looking toppy
[07:21 am] forgetmenot : more down on SWC
Brent?
[07:24 am] plyons53 : anywhere to access
charts with the very short time frames
[07:27 am] reacher : SWC is around mid-June
supp, downtrend pausing
[07:28 am] joeytsa -: plyons53…you can get
short time frame charts from most brokers
[07:39 am] vans : AAPL,AMZN,NFLX ALL GETTING
CLOSE TO BOUNCE
[07:42 am] reacher : Brent, I’m seeing next
SWC supp in 19.70-19.90 area. What say
you?
[07:43 am] reacher : So, $20?
[07:52 am] mriguy -: watching HNSN (sub $5
stock though)
[07:52 am] suzie : thankyou I like the new
room
[07:53 am] derns : SLV/AGQ dropping fast
[07:55 am] tshaq : Any thoughts on SINA?
[07:57 am] derns : IGT…short at .53 and
covered on a stop at .37..Thx Mitch
[07:58 am] gecko : dow losing 12500
[08:00 am] mikewd2 -: SINA?
[08:01 am] gecko : lod at 11
[08:01 am] gecko : yoku[08:03 am] gecko :
new lod yoku[08:08 am] alusi : CHPK still
short
[08:08 am] reacher : Mitch, do you use
trailing stops on swing trades? Points?
Percent%?
[08:12 am] alusi : thx Kris
[08:15 am] judyp : thanks for yoku long
[08:15 am] rusty : SWC radar
[08:21 am] gecko : dji spy moving up
[08:33 am] reacher : Kris, SWC what’s your
stop/loss price?
[09:04 am] toptrade : farm
[09:05 am] gecko : spy has pulled back since
hitting sma 200 1m
[09:10 am] reacher : FARM spiked up few mins
ago near res around 12.45
[09:11 am] reacher : FARM trading thinly,
though
[09:18 am] gecko : big candles
[09:18 am] toptrade : did not bet the farm
on farm but made .40
[09:24 am] reacher : Nice one, toptrade.
You had to be quick. Price action is on the
schizo side.
[09:34 am] mriguy -: I’m gonna try shorting
NWSA on this little bounce
[09:43 am] mriguy -: watching DYN
[09:45 am] joeytsa -: makes sense Mitch…any
feelings on the Italy situation?
[09:50 am] joeytsa -: Mitch..also, on your
SP-500 outlook…I agree with more downside
especially is Alcoa comes out with a bad
report later today
[09:53 am] joeytsa -: yep…it would be ”
look out below”
[09:56 am] mriguy -: watching CLX
[09:57 am] mriguy -: CLX moving up fast
[09:58 am] ron : for a short?
[10:03 am] forgetmenot : AMAT would it be a
swing? long
[10:12 am] joeytsa -: same thinking here
Mitch..thanks[10:21 am] qwert : Mitch- if
you have time can you tell us the targets for
NBL and LBTYA short swing trades
[10:27 am] lightning : S CREE 31.24
[10:30 am] mriguy -: CLX just acting strong.
Uncle. I give up.
[10:31 am] qwert : Thanks Mitch
[10:32 am] leo : I short LBTYA=46.57 and
NBL= 90.75
[10:32 am] qwert : lbtya at 46.35 and nbl at
91.48
[10:36 am] joeytsa -: CLX has been a nice
multi-trade
[10:36 am] qwert : Sometimes I do that as
well but not in this case
[10:37 am] lightning : S CLX 70.32
[10:41 am] joeytsa -: ABVT big drop
[10:42 am] lightning : stopped out CLX
short.
[10:44 am] mriguy -: I don’t have anything
good to say about CLX. It’s doing exactly
opposite of what I expect.
[10:46 am] jjammerp : look at the overhead,
probably gets close to 71 before it rolls
over.
[10:48 am] gecko : dji back 12500
[10:50 am] qwert : anyone long clx?
[10:52 am] rusty : ABVT radar
[10:54 am] jjammerp : so much for 71
[10:56 am] lightning : looks to me like CLX
next resistance is 72.50 area.
[10:58 am] gecko : dji above sma 200 1m
[11:02 am] jjammerp : on a short day it’s
hard to switch gears on a stock like CLX
[11:09 am] forgetmenot : aloha terminator
[11:09 am] lightning : Hey terminator.
welcome.
[11:09 am] terminator : aloha
[11:09 am] terminator : hi everyone my
first day on here
[11:10 am] Kris : welcome to the room
terminator
[11:10 am] terminator : hey lightning any
trades on now
[11:14 am] 3be : swc has been going, down
all day
[11:14 am] lightning : Term, I only have one
trade on right now, but it’s getting
stale.
[11:15 am] lightning : Primetime is the
first 90-120 minutes, and sometime the last
60 mins.
[11:16 am] mriguy -: Finally got a little
redemption on CLX. I was like a poker player
on tilt.
[11:16 am] stevemld : SINA giving big moves
today
[11:17 am] james : really like esignal
charts — can these be used with any
brokerage??
[11:20 am] Brent : here’s a link james with
the brokers you can integrate with
[11:20 am] Brent :
http://www.esignal.com/solutions/trading_inte
gration.aspx
[11:21 am] james : thanks Brent
[11:22 am] jjammerp : I got blown 2x on it
MRI, then said uncle near 72, went outside,
came back, it cracked, but only after I
did
[11:22 am] leo : Brent, eSignal is very good
but pricy for beginners like me. How’s
NinjaTrader? your opinion please.
[11:23 am] Brent : I like Ninja leo[11:24 am]
Brent : do you have ninja linked with a
broker Leo? so you are able to order off the
charts?
[11:24 am] leo : Not yet, I am just starting
to setup.
[11:24 am] mriguy -: jammer….CLX got me
twice also but I gave it once last short on
that drop. I chickened out and took half off
quickly to lock in a gain. Guess I’ll study
and learn from it.
[11:25 am] leo : Setup to link with
Interactive Brokers Brent.
[11:25 am] qwert : watching cma[11:26 am]
baz6308 : can we hold the lows?
[11:28 am] Brent : nice, I think you’ll like
that setup
[11:28 am] leo : Thx Brent.
[11:29 am] sonorant : Jjammerp MRI?? the
abbreviations are doing me in — I’m new.
[11:30 am] Brent : sonorant, MRI is the name
of a member, MRIGuy[11:34 am] Brent : good
job mriguy[11:34 am] mriguy -: thanks for
quick pop in SWC Brent
[11:38 am] joeytsa -: quick question to
traders…if paying $10 roundtrip, what’s the
smallest worthwhile scalp ie 15cents,25
cents?
[11:38 am] joeytsa -: using 1000 shares
[11:40 am] gecko : Brent swc seems like a
runner to me
[11:40 am] gecko : running short that is
[11:41 am] Brent : quick bounce was all I was
looking for gecko, with the increasing
volume
[11:41 am] sonorant : What is your
definition of worthwhile? I am happy to come
out ahead $20.
[11:42 am] sonorant : make 3 cents, and you
would have done that.
[11:43 am] joeytsa -: not sure…I usually
follow the momentum..but wondered if people
look to make 10cents for example
[11:43 am] Mitch K: you don’t want to think
that way sonorant. Your focus should be what
the chart is telling you and do your best
with your interpretation, not focusing on
money
[11:44 am] Brent : no worries gecko, has
support around 17.50, so that’s another area
to watch
[11:46 am] sonorant : Mitch — I can’t do
the math fast enough in my head to think
about the money when the trade is on — so I
do have to just look at the chart 😉
[12:03 pm] rusty : JVA alert
[12:07 pm] forgetmenot : thanks for CLX s
[12:08 pm] rd : just got back, looks like
CLX finally coughed up the hairball
[12:09 pm] gecko : new lows markets
[12:09 pm] gecko : the beatings will
continue until moral improves
[12:10 pm] mriguy -: Thanks for JVA rusty.
[12:15 pm] joeytsa -: i was too slow..but
good eyes Rusty
[12:20 pm] stevemld : SINA falling big
[12:28 pm] gecko : swc[12:28 pm] scalpman :
CLX L @ .96
[12:29 pm] dmitry : SWC may be a good
swing!
[12:33 pm] 3be : CLX..move seems to be
related to increase in call option buying
thereby increasing volatility
[12:38 pm] rusty : ABVT upgraded
[12:48 pm] sonorant : If something gets
upgraded, how much can you expect it to go
up?
[12:50 pm] qwert : goodbye everyone, awesome
calls today see in the am
[12:50 pm] sonorant : and who does the
upgrading?
[12:51 pm] forgetmenot : sono..upgrades
downgrades don’t mean the stock will go up or
down accordingly
[12:52 pm] mriguy -: 11 out of 13 today. Dang
CLX bit me twice. But I am starting to have
some real fun with this. Peace out everyone!
See you all tomorrow.
[12:54 pm] Kris : awesome job mriguy[12:56
pm] apple : thx MK, K, B and everyone, have
a wonderful evening
[12:56 pm] jjammerp : Brent/Kris, do you
ever use buy/short trail stops on stock like
say, SWC?
[12:57 pm] jjammerp : to help get close to
the bottom? or are they a fools “tool”
[12:58 pm] jjammerp : Does anyone in the TS
trading room use them? just curious
[12:58 pm] reacher : Mitch, do you use
trailing stops on swing trades?
[01:01 pm] leo : Thanks Mitch, Brent, Kris
and all traders
[01:01 pm] lightning : Thanks TSA and
everyone. See you tomorrow
|
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