[06:30 am] Mitch K: watching FFIV for
bottom
[06:31 am] Mitch K: trades both
ways today on CHKP
[06:31 am] Mitch K:
watching CHKP for bottom
[06:31 am] Mitch
K: watching FIRE for bottom to buy
[06:31
am] Mitch K: watching VTR for
bottom
[06:32 am] Mitch K: watching CTSH
for bottom to buy
[06:32 am] Mitch K:
watching DV for bottom to buy
[06:33 am]
Mitch K: watching URI for short, prefer
little rebound first
[06:34 am] Mitch K:
watching TXT for top to short, top of this
rebound, take time
[06:34 am] Mitch K:
watching WHR for top
[06:35 am] Mitch K:
watching NTRS for bottom to buy
[06:36 am]
Mitch K: watching AOS for top to
short
[06:37 am] Mitch K: watching CTXS
for bottom
[06:37 am] Mitch K: watching
RVBD for bottom
[06:38 am] Mitch K:
watching APOL for bottom to buy
[06:39 am]
Mitch K: watching FIRE closer
[06:39 am]
Mitch K: MTB top for short
[06:40 am]
Mitch K: watching NSC for bottom to
buy
[06:41 am] Mitch K: monitoring VMW for
trades
[06:41 am] Mitch K: watching DGX
for bottom
[06:41 am] Mitch K: watching
RHT for bottom
[06:41 am] Mitch K:
watching TIBX for top to short, missed
bottom, wait a while
[06:42 am] Mitch K:
watching APH for 2nd helping short, missed
first
[06:43 am] Mitch K: APOL
bottoming
[06:43 am] Mitch K: mkt
rebounding
[06:44 am] Mitch K: watching
AOS for top
[06:44 am] Mitch K: watching
ABT for bottom
[06:45 am] Mitch K:
watching MLNX for bottom
[06:45 am]
Mitch K: watching ORLY for bottom to
buy
[06:48 am] Mitch K: watching FIRE
closer
[06:48 am] Mitch K: watching
GGC
[06:51 am] Mitch K: ABT
bottoming
[06:51 am] Mitch K: watching
TSCO for top, take time
[06:53 am] Mitch
K: monitoring TKR
[06:56 am] Mitch K:
watching RCL for top to short, no
hurry
[06:56 am] Mitch K: watching ASML
for bottom to buy
[06:58 am] Mitch K:
consider reducing FIRE long
[06:58 am]
Mitch K: also short on FFIV
[06:58 am]
Mitch K: consider selling FFIV
[06:58 am]
Mitch K: soon
[06:58 am] Mitch K: watching
ASML for bottom
[06:59 am] Mitch K: VTR
too weak for me
[07:00 am] Mitch K:
consider FFIV short on top of this
bounce,
[07:00 am] Mitch K: watching ASML
closer
[07:00 am] Mitch K: watching CCL,
same sector as RCL, cruise lines
[07:01
am] Mitch K: looking for sell exit on CTSH
long
[07:02 am] Mitch K: CTXS
toppy
[07:02 am] Mitch K: consider selling
RVBD
[07:02 am] Mitch K: consider reducing
or selling NTRS
[07:02 am] Mitch K:
looking for sell exit on CTXS long, watching
for top to short as well
[07:03 am] Mitch
K: looking for just under $52 on ASML, be
flexible
[07:03 am] Ed : let it run
more
[07:03 am] Ed : advanced trade
monitorng KR for potential short no
hurry
[07:05 am] Mitch K: anytime on CTXS,
best price to cover
[07:05 am] Mitch K:
looking for cover point on CTXS short
soon
[07:05 am] Mitch K: CTSH
toppy
[07:05 am] Mitch K: monitoring DVN,
no hurry
[07:07 am] Mitch K: consider
reducing ASML, watch for pullback and then
hgiher highs
[07:10 am] Ed : SPY new
hod
[07:11 am] Mitch K: consider covering
CTXS
[07:11 am] Mitch K: my last comment
on ASML is a more advanced trading
technique
[07:19 am] Mitch K: FFIV
toppy
[07:19 am] Mitch K: what you have to
understand about a quick trade like i was
describing with ASML is you are trying to get
a better price while protecting against
losing all your profit. if you think
the stock is going to have a good bounce, you
may want to avoid taking quick profit and
buying at lower price. but make sure
you are decisive at getting back into it long
when it starts rebounding up again
[07:20
am] Mitch K: SPY turning over
[07:21 am]
Mitch K: ASML toppy
[07:22 am] Mitch K:
consider selling VMW if long, short idea on
rebound
[07:31 am] Mitch K: watchign TSCO
for 2nd helping short
[07:32 am] Mitch K:
watching VTR for sell point soon, consider
reducing here if long
[07:37 am] Ed :
pullback in SPY
[07:50 am] Ed : would like
tad more selling though
[07:50 am] Ed :
this is advanced trade monitoring ABT for
potential bounce
[07:54 am] Ed : would
like a move down to 67ish or low 68, not
enough money for me at this level
[08:14
am] Ed : if u took ABT long would reduce some
here
[08:17 am] Ed : Im trailing last 1/4
of ABT long
[08:20 am] Ed : and thats
pretty tight trailn stop
[08:20 am] Ed :
Im trailng last 1/4 of ABT long right behind
the 10 simple moving avg.
[08:22 am] Mitch
K: DOV really pumping out the trades
today
[08:24 am] Ed : out all ABT
long
[10:17 am] Ed : this is an advanced
trade
[10:17 am] Ed : monitoring QCOR for
potential long
[10:18 am] Ed : no news as
of yet
[10:22 am] Ed : if ut ook QCOR long
would reduce
[10:23 am] Ed : placing stop
last 1/4 of QCOR above breakeven
23.03
[10:24 am] Ed : will trail last 1/4
QCOR long
[10:42 am] Mitch K: going to be
a good bounce but you go in on several
orders
[10:42 am] Mitch K: nice idea
murano, start watching DG guys
[10:43 am]
Mitch K: Dollar General is company
[10:44
am] Ed : nice one qwert on MLNX
[10:44 am]
Mitch K: Dollar General, Family Dollar drop
after Dollar Tree gives Q3 sales
update
[10:45 am] Mitch K: DG that
is
[10:45 am] Mitch K: no buy signal yet
but should bounce pretty soon
[10:46 am]
Mitch K: 47.70 is my target on DG but be
flexible
[10:47 am] Mitch K: id sell some
DG here
[10:50 am] Mitch K: faster chart
on left
[10:50 am] Mitch K: DG
charts
[10:52 am] Mitch K: DG weakening on
left chart just a little,
[10:53 am] Mitch
K: yes lisa, TOL has buy signal 3 min
ago
[10:53 am] Mitch K: consider reducing
more DG and look around for shares to short
but short is dangerous at the moment, just
get reservations
[10:54 am] Mitch K: best
to wait for a formal sell signal on either
chart
[10:54 am] Mitch K: ok see that
black price there on the left chart?
really strong move, still strong on
DG
[10:55 am] Mitch K: consider reducing
DG
[10:55 am] Mitch K: not interested in
TOL chart myself lisa
[10:55 am] Mitch K:
is there anyone defending DG?
[10:56 am]
Mitch K: id try a little short here for
aggressive traders
[10:56 am] Mitch K: but
no sell signal yet, lol
[10:56 am] Mitch
K: consider selling all of DG
[10:56 am]
Mitch K: thats a 6% move on DG
[10:57 am]
Mitch K: no too late now, need a bounce on DG
for short entry mike
[10:57 am] Mitch K:
still time on short mike
[10:57 am] Mitch
K: sell signal on left chart
[11:00 am]
Mitch K: consider covering that short, got a
buy signal on right,
[11:01 am] Mitch K:
on FDO, DLTR, DG
[11:01 am] Mitch K:
shark, i posted news
[11:01 am] Mitch K: i
am experimenting with different
settings,
[11:02 am] Mitch K: chart on
left is MLNX
[11:02 am] Mitch K: consider
covering DG short
[11:03 am] Mitch K: way
too dangerous of strategy for me
[11:03
am] Mitch K: chingo, you trying for 2nd leg
up on long side of DG?
[11:03 am] Mitch K:
1 min chart on left
[11:03 am] Mitch K:
not recommending buying this but just
showing
[11:04 am] Mitch K: preserve your
profits now
[11:04 am] Mitch K: ching, DG
has moved up $3 a share or 6.5% from the
bottom,
[11:04 am] Mitch K: too risky
chingo
[11:04 am] Mitch K: usually a buy
here on DG chart fizzles out and you have a
trade failure
[11:05 am] Mitch K: it
doesnt mean your idea wouldnt work but the
odds are low
[11:05 am] Mitch K: sold
ok
[11:05 am] Mitch K: what is sod
chingo
[11:06 am] Mitch K: you want to
place the percentages, put odds on
yourside
[11:06 am] Mitch K: you can have
reasoning like Mr. Obama by saying “Well it
worked” but the odds were fairly
low.
[11:08 am] Mitch K: let me find a
picture on the internet somewhere
[11:08
am] Mitch K: good lesson here, favorite work
picture for this situation
[11:08 am]
Mitch K: let me explain this a little more on
a stock like DG
[11:10 am] Mitch K: when
you have a stock or any instrument that moves
up very quickly like DG . . . .
[11:10 am]
Mitch K: ok see this plane
[11:11 am]
Mitch K: so you can anticipate stocks like
FDO and DG they will stall
[11:11 am]
Mitch K: there is only so much energy
right? before it has to stop going
up
[11:12 am] Mitch K: UNLESS it is
different news, which we would have seen
different behavior in teh stock. if an
analysts who defends the stock and says,
something like we reiterate the target price
of $66 for example and if it is a big named
firm, it might give a little more energy to
the stock
[11:13 am] Mitch K: pilot is
still pointing upward but plane momentarily
stays pointing up but is sliding
backwards
[11:13 am] Mitch K: but my main
point to this kind of action is it often
stalls in an action that i call a tail
slide.
[11:14 am] Mitch K: this is doing
that same action only a little slower than my
analogy of a tail slide
[11:14 am] Mitch
K: so lets look at that etrade chart in that
small dark blue chart
[11:15 am] Mitch K:
its happening now and with Chingo’s idea of
buying on a dip on a stock that went up
really fast, isnt a great odds play
[11:15
am] Mitch K: did that analogy make sense on a
tail slide?
[11:15 am] Mitch K: on the
Lightning chart, you wont see a chart
displayed quite like this, well maybe you can
change the lightning chart
[11:16 am]
Mitch K: chart on left is MLNX
[11:16 am]
Mitch K: lets look at MLNX
[11:16 am]
Mitch K: now if your chart looks like MLNX
chart, no problem
[11:17 am] Mitch K:
also, on those stocks that gap way down, you
know we see 1-2 of those a day and i say in
that first hour “trades both ways”
those are stocks you can do exactly that,
clear obvious signals on lightning and you
have lots of time to enter orders without
having to be super fast
[11:21 am] Mitch
K: chart on right is DG
[11:21 am] Mitch
K: let me show you something else to finish
up this lesson
[11:22 am] Mitch K: chingo,
you see this?
[11:22 am] Mitch K: 2 min
chart
[11:22 am] Mitch K: ok see this one,
CHKP
[11:23 am] Mitch K: both
ways
[11:23 am] Mitch K: ok this is the
kind of chart action you can do what you were
trying
[11:24 am] Mitch K: you dont need
lightning to know this chingo
[11:24 am]
Mitch K: all together now
[11:24 am] Mitch
K: DG was a “reactionary” trade. People
saw it drop like us and just jumped on
it. what do you guys think most traders
are going to do after a 5-6% rebound in 5
minutes?
[11:24 am] Mitch K: the traders
are thinking differently on CHKP than what
they were thinking on DG
[11:25 am] Mitch
K: right, they are going to sell
[11:25
am] Mitch K: or 5-6%
[11:25 am] Mitch K:
come on you guys, what do you think traders
are going to do after making $2, 3, a share
in 5 minutes?
[11:26 am] Mitch K: so you
have the largest group of people trading DG
that are long at that bottom area and it
rebounded $3 a share or 6% and you can start
anticipating that those guys who are
profitable will start thinking of
selling. itchy finger to click sell
button
[11:27 am] Mitch K: so stay with me
on this and i am trying to get you,
especially CHingo right now, to understand
the mindset of those traders
[11:27 am]
Mitch K: right?
[11:27 am] Mitch K: ok so
now the momentum shifts with a larger
percentage of people trading DG become
sellers
[11:28 am] Mitch K: you bought
here chingo
[11:28 am] Mitch K: on the DG
chart, you still had most people shifting
toward selling.
[11:29 am] Mitch K: sure
it went up 30 cents on a $48 stock but you
have to be thinking a little bit of what
these people will do, anticipating
[11:30
am] Mitch K: did that make sense?
[11:30
am] Mitch K: so next time chingo, let it come
back well toward the bottom before trying
that, odds would have been better, the odds
shift toward your side
[11:30 am] Mitch K:
ok lets look at the $47 level on DG, it came
back about half way of that bounce and now
most of the selling is over, still some risk
left to the downside but another clue is if
you see that big of a move in the first
place, a lot of buyers still on the
sidelines, licking chops, or thinking they
missed it or they can make money
again
[11:31 am] Mitch K: make sense
Chingo
[11:31 am] Mitch K: there are other
people in these stocks and you generally want
to know what kind of group behavior they are
likely to engage in
[11:32 am] Mitch K:
chingo, since you are a more active trader,
use that technique on something like the CHKP
chart
[11:33 am] Mitch K: i dont
understand your question shark, decent scale
in strategy?
[11:33 am] Mitch K: ok, clue
is this…… in that first 30-45 minutes of
the day and you see a chart like CHKP that
got crushed from, in this case $47.50 to $41
in same day, you can use lightning very
effectively to see this type of trading
action. this is when Lightning just
shines, really does well
[11:34 am] Mitch
K: oh ok, i like to tell people in a case
like DG, where there was heavy selling
pressure, stock dropping hard, that one
single order is rarely going to be your best
price. plus your risk is lower by
starting with smaller positions
[11:35 am]
Mitch K: odds are you will get a better
average price by dividing your planned
position size in 3 orders, all limit
orders
[11:36 am] Mitch K: but even then
at that DG bottom on chart on right, still
good to split it up
[11:36 am] Mitch K: a
lot of this will not be necessary with the
Lightning
[11:36 am] Mitch K: its ok to
send 1 of the 3 orders as a market price just
to make sure you get filled and in a
position
[11:37 am] Mitch K: my intention
and goal is to make you guys into some really
good traders, highest win rates, good habits,
best trading practices
[11:38 am] Mitch K:
always remind yourself to be disciplined, ask
yourself if this is a good idea BEFORE you
click the mouse
[11:38 am] Mitch K: it
isnt an ego statement on my part, I just
think that is what i can contribute
[11:39
am] Mitch K: it helps me. i found this
sign on the back of my door that has been
there for 9 years
[11:39 am] Mitch K: i
have these little signs all over my office
even after 19 years of trading
[11:40 am]
Mitch K: Best Odds, Stay in Position Size, Be
Aggressive and Decisive
[11:40 am] Mitch
K: lol, it says:
[11:41 am] Mitch K: now
how can you go wrong with that
advice?
[11:42 am] Mitch K: write your own
notes to yourself on problem areas you have
had or still have
[11:43 am] Mitch K: you
may not look like one but your brain
is
[11:43 am] Mitch K: you are
athletes
[11:43 am] Mitch K: this is a
business, lets maximize revenue and reduce
expenses
[11:45 am] Mitch K: im going to
go out on a limb and say that if you are
making money now trading that lightning will
at least double your income, probably
triple. If you add futures to it and
apply the same good practices, you should
triple and then some
[11:45 am] Ed : now
DG is being defended
[11:46 am] Mitch K: i
bet that bounce off $47 was the defending
timing
[12:12 pm] Ed : SPY having issue
for now at horizontal resistance
[12:47
pm] Ed : SPY pulling back
[12:59 pm] Mitch
K: later guys
[12:59 pm] Ed : have a great
evening traders
| [05:44 am] taco : morning
guys
[05:52 am] qwert : good morning
everybody
[05:52 am] qwert : gm
taco
[05:55 am] taco : hey
qwert
[06:04 am] joeytsa : Good
morning Mitch, everyone
[06:05 am]
qwert : gm joey
[06:06 am]
joeytsa : gap down:
FTNT,APOL,CHKP,ISRG
[06:06 am]
joeytsa : gap up: CREE,QCOR,CHRW,CYMI(
acq)
[06:07 am] qwert : nice gap up
on fslr as well
[06:07 am] joeytsa :
eye on AEGR, halted..fda meeting about new
drug
[06:07 am] joeytsa : thx
qwert
[06:08 am] qwert :
:))
[06:08 am] joeytsa : RIO,BPBHP
gapping up also
[06:09 am] joeytsa :
BHP,BP should have been a comma between
them
[06:09 am] joeytsa :
IBM,SWK,STJ gapping down also
[06:10 am]
taco : thanks joey
[06:11 am]
joeytsa : no prob
[06:13 am]
taco : nice bear cup on IBM
[06:13
am] joeytsa : hmmm, i dont see
that
[06:14 am] taco : oh no? 1
min?
[06:14 am] joeytsa : gotya, now
i see it 🙂
[06:14 am] taco :
ok, good
[06:14 am] taco : for me
that is
[06:15 am] lisas : gm
all
[06:15 am] taco : hi
lisas
[06:15 am] lisas : Hi
taco
[06:19 am] joeytsa : mike is
having issues getting into the room
[06:20
am] reshef : G.m CYMI
[06:22 am]
taco : thanks reshef
[06:22 am]
joeytsa : just be careful, CYMI is an
acquisition
[06:22 am] joeytsa :
posted that above
[06:22 am] taco :
k thanks
[06:23 am] taco : r you
looking at RATE? as well?
[06:23 am]
taco : Jopey
[06:23 am] taco :
joey
[06:24 am] joeytsa : no
volume
[06:24 am] joeytsa : maybe
later it might do something for me
[06:24
am] taco : how much volume do you like
to see?
[06:24 am] joeytsa : the
more the better, esp pre-market
[06:25 am]
taco : k
[06:25 am] joeytsa :
RATE has only traded 2600 shares
[06:25
am] apple : good morning to all alert
traders
[06:25 am] apple : gm
joey
[06:25 am] apple : gm
taco
[06:25 am] joeytsa : hi
apple
[06:25 am] apple : gm
reshef
[06:25 am] taco : hi
apple
[06:25 am] apple : gm
khall
[06:26 am] apple : gm
lisa
[06:26 am] apple : gm
mike
[06:26 am] elisha : GM Mitch,
Ed and everyone
[06:26 am] apple :
gm ellisha
[06:26 am] apple : gm
MK
[06:26 am] elisha : gm
apple
[06:27 am] apple : CL just
took a little drop
[06:27 am] khall
: gm all
[06:28 am] ticktrader :
Good Morning Mitch, Ed and all
traders
[06:28 am] chinhngo : good
morning
[06:28 am] apple : gm
chin
[06:28 am] lisas : gm
apple
[06:28 am] apple : gm
tick
[06:29 am] chinhngo : gm
apple
[06:29 am] apple :
bidu
[06:29 am] ticktrader : GM
Apple
[06:29 am] apple : wrong
screen
[06:31 am] joeytsa : taco:
did you take IBM short, nice quick one if you
did
[06:32 am] shark : watching
FTNT
[06:33 am] apple : gm
shark
[06:34 am] shark : 🙂 hi
apple
[06:35 am] taco : i got it
long actually
[06:35 am] taco :
thank you for the early set ups
[06:35 am]
joeytsa : nice, both moves were
quick
[06:36 am] khall : good trade
taco
[06:36 am] apple : big drop in
ES, GC and CL all together now…
[06:37
am] joeytsa : APOL trying to
bottom,
[06:37 am] shark : housing
strong DHI, KBH, LEN
[06:37 am]
joeytsa : yeah shark, housing starts #
was up
[06:38 am] joeytsa : 0.87M
with 0.77M forecast
[06:38 am] apple
: thx joey, shark
[06:39 am] joeytsa
: VMW trying to bottom
[06:40 am]
joeytsa : great rebound on ISRG after
earnings gap down
[06:41 am] joeytsa
: AAPL nice bounce off bottom
[06:47 am]
joeytsa : watching FFIV for a break
lower
[06:48 am] joeytsa : or a
break higher i guess haha
[06:49 am]
apple : either way joey
[06:49 am]
joeytsa : as long as it
breaks
[06:51 am] joeytsa : Mitch,
beauty of a call on URI
[06:56 am]
apple : wow on URI!
[07:08 am]
mikewd2 -: URI consolidating
[07:10 am]
victor51 : gm all
[07:12 am]
apple : hey victor
[07:13 am]
mikewd2 -: Russell moving up today
[07:16
am] eddy : hi all
[07:16 am]
apple : hey eddy
[07:16 am]
apple : gm E
[07:18 am]
joeytsa : DECK spike down
[07:18 am]
khall : MLNX nice call
[07:21 am]
taco : thx joey, got it
[07:21 am]
elisha : thx MK
[07:21 am]
taco : youre my new best bud)
[07:21
am] joeytsa : 🙂
[07:22 am]
joeytsa : stick with Mitch, he actually
tells you how to trade them 🙂
[07:22 am]
scalpman : Cover 1/2 DECK L
[07:22
am] taco : yes of course, just had some
good calls when i look at the room is all.
thnx
[07:23 am] joeytsa : dont jinx
me, i might throw in a clunker haha
[07:23
am] taco : lol
[07:24 am]
scalpman : stopped on 2nd half DECK and
b.e.
[07:27 am] mikewd2 -: oil inventories
coming up
[07:27 am] joeytsa : thx
for the reminder mike..nice to have you back
🙂
[07:27 am] Ed : thx
[07:27 am]
mikewd2 -: URI moving up off
consolidation
[07:28 am] mikewd2 -:
watching for top in WLT
[07:29 am] mikewd2
-: out URI L, +0.62
[07:30 am] apple
: drop in CL
[07:30 am] mikewd2 -:
2.86Mbbls rise
[07:30 am] joeytsa :
crude inv came in double what was
expected
[07:31 am] apple : thx mike
and joey
[07:31 am] joeytsa : thats
happened on a couple reports this
week
[07:36 am] joeytsa : oil
testing $92
[07:36 am] mikewd2 -: WLT
turning
[07:37 am] eddy : long UVXY
26.15
[07:40 am] joeytsa : SWK
making a nice pullback
[07:47 am]
joeytsa : ABT lod
[07:47 am]
shawn : getting nervous in
TSCO
[07:48 am] joeytsa : long or
short shawn?
[07:48 am] shawn :
short
[07:48 am] joeytsa : if you’re
nervous, you might have too many
shares
[07:50 am] joeytsa : out ABT
short, break time
[07:50 am]
joeytsa : nice calls today, make some
money
[07:50 am] Ed : nice short
joey
[07:50 am] joeytsa : thanks,
hope you get the long while im gone
[07:51
am] Ed : dont know how i missed the short
though, oh was not lookn at it
[07:52 am]
apple : pay attention E!
[07:52 am]
Ed : one must have money to pay
[07:53 am]
Ed : or is that to play
[07:53 am]
khall : yes to both 🙂
[07:54 am]
elisha : When you check the daily chart
on a stock like ABT how long do you go
back?
[07:54 am] shawn : what do you
think in TSCO
[07:54 am] Ed : i just keep
loon back to potential levels of
support
[07:55 am] Ed :
loon=looking
[07:55 am] elisha : thx
Ed
[07:55 am] Ed : so areas to watch, see
how stock reacts
[07:56 am] Ed : we can
draw many, we jus monitor action, we monitor
price and vol
[07:56 am] Ed : thats what
is called price action
[07:57 am] Ed : u
look at areas of consolidation, gaps, moving
avg. as example
[07:57 am] elisha :
thx again
[07:58 am] Ed : key is never
fixating on a particular area, as it can go
right threw, or stop right on it
[07:58
am] elisha : writing this dowm
Ed
[07:58 am] elisha : dowm
=down
[07:59 am] elisha : you don’t
know it but you’re helping me write my
trading rules
[07:59 am] scalpman :
Sell 1/2 ABT L
[07:59 am] Ed :
nice elisha
[07:59 am] Ed : also this is
advanced, due to fact ur going against
overall trend
[08:00 am] scalpman :
@ 68.69
[08:00 am] scalpman : sorry
69.00
[08:02 am] Ed : then elisha if stock
continues down through those levels, just
look for next potential area of support, same
for an upside move
[08:03 am] Ed : see how
daily comes into play, for day
trading
[08:03 am] Ed : thats where u get
ur overall levels from
[08:04 am]
murano : FB
[08:04 am]
scalpman : Sell another 1/4 ABT
L
[08:04 am] elisha : thx Ed,
writing as fast as i can
[08:04 am]
scalpman : @ 69.0
[08:04 am]
reshef : Hi Ed, Only simulate today,
the deciplin with support and ressitent wite
you leason work very good
[08:05 am]
apple : watching CERN
[08:05 am] Ed
: potential areas of support/resistance. I
like using potential, that lets me know that
has the possibility
[08:06 am] eddy
: all out UVXY +1%
[08:06 am] Ed : nice
trade eddy
[08:06 am] eddy : thx
ED
[08:06 am] qwert : elisha if you
right click on the chat box you can copy chat
history so you wont have to write everything
down right now
[08:06 am] scalpman :
All out ABT L…
[08:06 am] Ed : that way
I dont get fixated on an area and if price
goes through not looking dumb
founded
[08:07 am] Ed : all about being
flexible
[08:07 am] eddy : FB
shortable Ed?
[08:07 am] eddy : or
is it too late now?
[08:07 am] apple
: yoga helps
[08:07 am] scalpman :
NAV watch for s
[08:07 am] Ed : FB is only
good for short quick scalps, better money on
longside
[08:08 am] elisha : qwert,
where exactly on chat box?
[08:08 am] Ed :
look for pullbacks
[08:08 am] eddy :
k
[08:08 am] elisha : qwert, where
exactly on chat box?
[08:08 am] Ed : its
starting to get some momentum from buyers on
15min cahrt
[08:08 am] elisha :
sorry
[08:08 am] qwert : right side
between the up and down arrows
[08:09 am]
elisha : thx qwert
[08:10 am]
qwert : sure thing
[08:10 am] Ed :
good area eddy, speakn for me, if get
pullback close to area of consolidation of
19.69 area, or if FB can put in some time in
this area meaning consolidate for a while b4
breakn out again
[08:10 am] scalpman
: GMCR looks like a sWING for few weeks on
the daily
[08:10 am] scalpman :
Long
[08:11 am] Ed : i would let it put
some more work in since had nasty breakdown
back in sept
[08:12 am] taco : did
anyone else get the daily stock report with
sept 19th video last night?
[08:12 am] Ed
: couple ways to play it, add small pilot
trades as it clears areas on 15min chart,
this is speakn of swing
[08:12 am]
apple : looks interesting
scalp
[08:13 am] Ed : bet yea scalp does
have potential
[08:14 am] scalpman :
URI has gap up on the and now breaking
throught 38
[08:15 am] scalpman :
(daily)
[08:15 am] ticktrader : Yes,
Taco, the video was from 9/19, the commentary
was yesterdays.
[08:16 am] taco :
thanks, just checking
[08:17 am]
qwert : same here taco
[08:17 am]
scalpman : CERN bounce causing
conCERN
[08:18 am] qwert : i just
accidentally sold the rest of abt
instead of just part
[08:19 am]
apple : ooops
[08:19 am] Ed : blame
it on me qwert, everyone else does
[08:19
am] scalpman : probably ok move
Qwert
[08:19 am] qwert : yeah oops
is right
[08:19 am] qwert :
hahaha
[08:20 am] scalpman :
..overbought
[08:20 am] joeytsa :
nice job on ABT long Ed
[08:21 am] Ed :
thx joey
[08:21 am] Ed : see how we used
ifno from the daily on ABT elisha
[08:21
am] elisha : yes
[08:22 am]
qwert : where is the 10 at ed i use an
8
[08:22 am] elisha : you used a
channel?
[08:22 am] elisha : and
s/r
[08:22 am] Ed : its the blue
[08:22
am] qwert : thx ed
[08:23 am] Ed : i
switch up, on the trailer, at times will use
20 or really tight the 10
[08:23 am]
qwert : you manually bump the
stop
[08:24 am] joeytsa : i use the
5ma, a bit too tight sometimes
[08:24 am]
Ed : just eyeballing chart elisha, lookn for
those thing u mentioned
[08:24 am]
elisha : are you talking ma when you
say “the blue”?
[08:24 am] Ed : i was
speaking to qwert on what i was using for
trailn stop
[08:25 am] elisha : I
figured, is that ma you are talking about
with the stops?
[08:26 am] Ed : thats more
of preference, but sometimes for my last
piece of positon in stock will use 10 or 20
moving avg. to trail
[08:26 am]
elisha : thx for clearin that
up
[08:28 am] Ed : but i always take my
1st profits at the 1st level of
support/resistance
[08:28 am] Ed : that
keeps me balanced
[08:28 am] joeytsa
: shawn: if you are still in TSCO short, its
touching some support, keep eye on
it
[08:28 am] scalpman : CHKP for S
@ 41.50
[08:28 am] joeytsa : good
trading plan Ed
[08:29 am] Ed : i had to
do that, cuz when i did not have a plan, i
would get in trade see it move in my favor be
up 800, and start dreaming about my next
ferarri. then look and i would be in the
whole
[08:29 am] joeytsa : been
there
[08:29 am] Ed : whole=hole
[08:30
am] joeytsa : or whole lotta trouble
🙂
[08:30 am] Ed : yea
[08:30 am]
taco : copy that
[08:30 am]
joeytsa : i still need to learn to leg
out of trades
[08:30 am] Ed : did it a
many times before i said i need to develop
something to help me with that
[08:31 am]
scalpman : JOey…use OCO….has stop
and 2 or 3 limit orders for profit
[08:31
am] elisha : i’ve been doing the math
on my sim trades – all in/out versus
scaling and scaling so far has always
won
[08:31 am] Ed : see sometimes i will
scale out, and sometimes not, but taking my
profit is always consistent no
matter
[08:31 am] scalpman : Kris
used to take 1% 1/2 position and then 1/4 and
then all out.
[08:32 am] joeytsa : i
have done that scalp
[08:32 am]
joeytsa : the thing is, i usually have
a profit target, if it hits i get out and
look for next entry
[08:32 am] Ed : just
me personally I dont like using %, as it
could hit .8% and turn down
[08:32 am]
joeytsa : same here Ed
[08:33 am]
scalpman : I use OCO for first 1/2.
then cancel, and reset OCO on the 2nd half.
That way you get 1/2 1/4 1/4
[08:33
am] joeytsa : % means nothing to
me
[08:33 am] Ed : yea that sounds good
scalp
[08:33 am] taco : what’s
OCO?
[08:33 am] apple : joey is show
me the $$$
[08:33 am] joeytsa :
thats great for some traders
[08:33 am]
scalpman : Percent calc is easy in your
head.
[08:33 am] Ed : true
[08:33 am]
eddy : Srpt looks like it is setting up
for long
[08:34 am] scalpman :
43.83 subtract 43
from 83 for 1%
[08:34 am] joeytsa :
yeah its easy, but so is eyeballing
targets
[08:34 am] scalpman : 1% =
43.40
[08:34 am] joeytsa : every
trader has their niche
[08:34 am]
qwert : i try to eyeball
[08:35 am]
joeytsa : i use risk reward, so if i am
looking for 1%, then my stop is
.25%
[08:35 am] eddy : Ed your views
on SRPT please?
[08:35 am] elisha :
tace, check the “Q”, then ask – What is
OCO?
[08:35 am] elisha : tace =
taco
[08:35 am] joeytsa :
taco: OCO= one cancels other
[08:36
am] elisha : thx
[08:36 am]
scalpman : Watch CHKP at
41.55-60
[08:36 am] joeytsa : might
have another definition also
[08:36 am] Ed
: i dont see any edge, its a 50/50 trade. I
dont like playn 50/50
[08:36 am]
eddy : OCO=order cancels
order
[08:36 am] taco : ah thanks
guys
[08:36 am] mikewd2 -: nice trend on
MOS today
[08:37 am] ticktrader :
all out TSCO
[08:38 am] scalpman :
The oco puts 2 stop at (ex) .20 below entry.
and limits at (ex) .30 and .50. If
the limit is hit, the 1 stop is
cancelled.
[08:38 am] scalpman :
It’s worth it to study it. Very
useful
[08:38 am] joeytsa : great
tool
[08:39 am] taco : thanks
scalpman
[08:39 am] scalpman :
Welcome. Happy to share…
[08:40 am]
scalpman : CHKP getting closer…what
do you think Ed
[08:40 am]
ticktrader : scalpman- Are you
Tradestation user?
[08:41 am] qwert
: apol watching
[08:41 am] joeytsa :
its had troubles at 41.50 like you mentioned
earlier
[08:41 am] joeytsa : re:
CHKP
[08:41 am] scalpman :
Yes…tick
[08:42 am] Ed : I would prefer
it put in some time right at this price in
small range for atleast couple more hours,
without lows being taken out, would give
better chance of moving off bottom
[08:42
am] scalpman : Tradestation has “Hot
Picks” which shows “Rapidly Falling” ,
“Rapidly rising” and “GapUp” and
“down”
[08:42 am] khall : It’s easy
to set up OCO orders in Ninja as well via the
ATM Strategy
[08:43 am] scalpman :
Yes true khall…Ninja has chart based order
entry…tooo
[08:44 am] mikewd2 -: scalp,
have you figured out away to filter the
Rapidly Falling/Rising Hotlists?
[08:44
am] mikewd2 -: Would be nice to put a price
or vol type limit to the picks.
[08:44 am]
mikewd2 -: Unfortunately TS doesn’t provide
the easy language for the
hotlists..
[08:45 am] scalpman :
mike…I’ve asked the question to TS on the
parameters, but so far the techies don’t
know. They know that it is there but
not how it works.
[08:45 am] mikewd2 -:
great
[08:45 am] apple : haha,
that’s too funny scalp
[08:45 am]
scalpman : It would be great to then
use EL to set tighter parameters.
[08:46
am] mikewd2 -: yes, exactly
[08:46 am]
scalpman : It’s a black box to them
apple.
[08:46 am] apple :
unbelievable, right?
[08:46 am]
scalpman : What I do is delete all
columns by symbol, last and open and
volume
[08:46 am] elisha : scalp,
what is EL?
[08:47 am] scalpman :
EAsy Language
[08:47 am] elisha :
thx
[08:47 am] scalpman : that way
you can’t check price and vol easily and
check it action, filter through the stuff
that would not work for us.
[08:48 am]
scalpman : I found DECK that way this
morning for a small profit.
[08:48 am]
scalpman : CHKP hit 41/60
[08:48 am]
scalpman : 41.60
[08:48 am]
elisha : wow on DOV MK
[08:48 am]
scalpman : Sell signal on the 2
min
[08:48 am] joeytsa : i forget,
how often does the rapidly rising scan
update?
[08:48 am] mikewd2 -:
2min
[08:49 am] scalpman : make that
41.59…I have an order to sell at
41.60
[08:49 am] mikewd2 -: well its a
2min calculation
[08:49 am] joeytsa
: thats what i thought
[08:49 am]
scalpman : darn…I was talking and not
paying attention
[08:49 am] joeytsa
: TSCO turned into a great short
[08:50
am] scalpman : CHKP is pretty slow…I
will let it go…as I am running out of time
this morning.
[08:51 am] scalpman :
Joey , yes it did. Good call by
Mitch
[08:52 am] joeytsa : wish i
took it
[08:52 am] ticktrader : I
took TSCO but sold out too early
[08:53
am] scalpman : It had a slow decline
and didn’t break til 11:30 est.
[08:53 am]
scalpman : (patience)….a great
virtue
[08:53 am] joeytsa : yeahm
lost that support near 98.40
[08:54 am]
scalpman : GMCR a mover on the Hot
picks
[08:55 am] apple : hot picks
where?
[08:55 am] scalpman : The HOT
Picks (TS) shows movers up and down. Often
you miss the move., but you look for the one
that have spike and then go for the
reversal.
[08:56 am] mikewd2 -: there
actually called HOT LISTS
[08:56 am]
apple : yeah, i got that have rapidly
rising
[08:57 am] mikewd2 -: i keep up
rapid rise and fallers, have GAPS for
premarket evaluation
[08:57 am]
scalpman : There was my CHKP drop….I
was glad to be right about it. for about .30
but didn’t trade.
[08:57 am]
scalpman : I had my order at 41.60 and
it peaked at 41.58
[08:58 am]
joeytsa : spike on WLK
[08:58 am]
joeytsa : not huge
[08:58 am]
scalpman : …isn’t that unfair. Maybe
Obama can pass a law…(ha)
[08:58 am]
joeytsa : looked bigger due to
scaling
[08:59 am] joeytsa : still
had trouble at 41.50 though
[08:59 am]
scalpman : QLIK testing lod
[09:00
am] scalpman : ..actually just
support
[09:00 am] scalpman : CYMI
ready to fall….
[09:01 am] joeytsa
: WLK quick drop now
[09:02 am] mikewd2 -:
what was the buyout price for CYMI?
[09:04
am] mikewd2 -: i found it, $20 + 1.1502
shares of ASML
[09:04 am] apple :
what a chopfest on the ES today after its
initial climb
[09:07 am] scalpman :
HWD
[09:07 am] joeytsa : not sure
mike, but it had a huge gap up
[09:08 am]
joeytsa : agreed apple
[09:09 am]
apple : nice on HWD
[09:10 am]
joeytsa : HWD has a nice diamond biz
going
[09:11 am] eddy :
SRPT
[09:11 am] scalpman : SEll
signal HWD 1 min
[09:12 am] murano :
JWN
[09:12 am] joeytsa : WLT moved
higher off cons
[09:12 am] joeytsa :
nice murano
[09:12 am] eddy : ya
nice but wat do we do with JWN now
[09:12
am] eddy : long /short?
[09:14 am]
Ed : too late for me, but what u do, is see
if get test near that hod, without it getting
taken out and see if get short
setup
[09:18 am] scalpman : JWN
toppy
[09:20 am] scalpman :
DECK
[09:23 am] scalpman : DECK
dropping
[09:23 am] taco : thx
scalpman,
[09:23 am] scalpman :
opportunity
[09:23 am] taco :
yeah
[09:23 am] mikewd2 -: NFLX
hod
[09:24 am] scalpman : oh I am
late…got to go.
[09:24 am]
scalpman : Bye
[09:24 am] taco
: c ya scalp
[09:25 am] Ed : c ya
scalp
[09:25 am] joeytsa : bye
scalp
[09:25 am] taco : i got 22%
real profit from qcor
[09:25 am]
taco : very exciting for me
[09:25
am] Ed : nice taco
[09:26 am] taco :
for my retirement fund
[09:26 am] mikewd2
-: very nice
[09:26 am] taco :
🙂
[09:26 am] qwert : great job
taco
[09:26 am] ticktrader :
Excellent Taco
[09:26 am] taco :
thank you thank you, won’t give it back next
week
[09:26 am] joeytsa : nice job
taco
[09:27 am] joeytsa : CYMI fell
from one pivot to the next
[09:27 am]
joeytsa : nice $2 move there
[09:32
am] mikewd2 -: URI still moving
higher
[09:32 am] Ed : hey eddy u see what
i was talkn about for JWN
[09:34 am]
eddy : about wat exactly Ed?
[09:34
am] eddy : was not on my desk just got
back
[09:34 am] Ed : ur question u asked
about taking JWN short
[09:34 am] Ed : i
responded
[09:35 am] eddy : yes i
just scrolled back
[09:35 am] eddy :
i asked the question but had to move
away
[09:35 am] qwert : ed are you
in jwn short
[09:35 am] Ed : no
problem
[09:36 am] eddy : did u
trade JWN Ed?
[09:36 am] Ed : yes, being
that i missed the 1st
[09:36 am] Ed : i
only have 1/4 left
[09:36 am] qwert
: whats your entry and 1st tgt
[09:36 am]
eddy : in around 58?
[09:37 am]
murano : JWN hasn’t been able to take
out 58.44, maybe today is the day.
[09:37
am] joeytsa : see you all for the last
hour or so
[09:37 am] Ed : i cheated,
58.11
[09:37 am] taco : bye
joey
[09:37 am] ticktrader : cya
Joey
[09:37 am] joeytsa : nice entry
Ed
[09:37 am] eddy : indeed gd
entry
[09:37 am] go4it : Joey I went
short on CYMI up 57% from yesterday on
takeover info seewhat happens Thks
[09:37
am] Ed : did not see any buyers so did not
mind placing there with stop set at
58.23
[09:38 am] joeytsa : nice
bruce !!!
[09:38 am] Ed : exited on 1st
drop 3/4 position 57.79
[09:38 am]
qwert : 57.80 area for 1st
tgt.
[09:38 am] Ed : yep
[09:38 am]
qwert : nice
[09:38 am] eddy :
gd trade ed
[09:39 am] Ed : thx
[09:39
am] taco : thanks ed for info re
trade
[09:39 am] Ed : no problem
[09:39
am] chinhngo : ed what is second target
to buy cover jwn ?
[09:40 am] Ed : Im
trailng it chin right behind 10 moving
avg
[09:42 am] chinhngo : buy cover
at 57.70
[09:44 am] Ed : nice trading
chin
[09:45 am] taco : at what level
of trading should a trader subscribe to level
II data?
[09:45 am] Ed : I dont use it
taco
[09:46 am] taco : what told you
no buyers above JWN?
[09:46 am] taco
: for your stop
[09:46 am] Ed : vol. and
using time & sales
[09:47 am] Ed :
i hear many veteran traders say level II is
obosolete
[09:47 am] taco : what is
time and sales please?
[09:48 am] Ed : it
givves every print of buy/sell
orders
[09:48 am] taco : is that the
ask/buy?
[09:50 am] Ed : thats it there
taco
[09:50 am] taco : i see
thanks
[09:51 am] taco : do only
some brokers have that?
[09:51 am]
taco : im ninja/IB
[09:51 am] Ed :
they should have it
[09:51 am] taco
: ok thank you
[09:52 am] Ed : this is
modern day version of ticker tape
[09:53
am] Ed : tape is slow right now
[09:53 am]
Ed : i mainly use it on breakouts, breakdowns
and fast movers
[09:54 am] elisha :
what do the 2x#’s on the right side
mean?
[09:54 am] Ed : size of
orders
[09:54 am] elisha : 2×1 is
how many?
[09:54 am] elisha : or
3×1?
[09:55 am] taco : are they
orders which have completed? or waiting to
fill
[09:55 am] Ed : lets me know have
more buyers than sellers, i dont care about
the in between stuff
[09:55 am] taco
: ahh
[09:55 am] taco : )
[09:56
am] regatta : watching P
[09:56 am]
mikewd2 -: P was just recommended as buy on
CNBC
[09:57 am] Ed : reason i dont care
about in between stuff is that it will not
influence my trade if i know it or
not
[09:57 am] apple : it also came
up on the hotlist
[09:57 am] Ed :
basically keeping it simple
[09:58 am]
taco : right, thanks Ed
[09:59 am]
go4it : Joey you da man
[10:00 am]
taco : still short go4it?
[10:00 am]
go4it : yep
[10:00 am] taco :
haha nice
[10:01 am] go4it : I owe
Joey lunch next time I’m in Vegas
haha
[10:02 am] mikewd2 -: yeah take him
to one of those 2.99 buffets – lol
[10:02
am] Ed : yea i set mine up so that I dont
have to interpret too much in fast paced
environment, when it says 10 x 1, just by
glancing and seeing that i know i have more
buyers in tape and if it drops so going from
10 x 1 then 10 x1 to 1 x 20
then 1 x 20, I may have an issue if Im long
as sellers have come in
[10:03 am]
taco : gotcha
[10:03 am] taco
: i can see the value for fast
movers
[10:04 am] Ed : right thats why
mostly use it for breakouts, breakdown and
fast movers
[10:04 am] taco :
ya
[10:04 am] apple : haha, mike, he
doesn’t eat that stuff anymore
[10:05 am]
mikewd2 -: yeah probably not to many $2.99
vegan buffets?
[10:06 am] apple :
he’s a cheaper date now…
[10:06 am]
go4it : I’ll take him to farmers
market
[10:07 am] apple : sounds
good
[10:12 am] mikewd2 -: FIRE another
leg down
[10:13 am] taco : IBM going
lower
[10:13 am] go4it : my stop is
71.57 +.75 i’ll take it but still in for
now
[10:15 am] chinhngo : go4it you
talk about cymi at 71.57 short ?
[10:17
am] go4it : yes i’m short from
72.29
[10:17 am] apple : QCOR has
given some great trades lately
[10:19 am]
go4it : Apple I need it to come back
above 29 before I show profit
[10:19 am]
go4it : tried catching the falling
knife and got cut
[10:20 am] khall :
ouch
[10:20 am] go4it : there it
goes again 🙁
[10:20 am] apple :
ditto – ouch, ouch
[10:22 am] taco :
gorgeous
[10:22 am] taco : chart
that is
[10:22 am] apple : i thought
you meant me, taco
[10:22 am] taco :
not being hurt by it
[10:22 am] taco
: lol
[10:22 am] khall : LOL
apple
[10:23 am] mikewd2 -: was 3/7 and
down a bunch, QCOR helped me get back to
even
[10:23 am] apple : good one
mike
[10:23 am] taco :
nice
[10:24 am] mikewd2 -: Questcor moves
lower on a cautious report by
CitronResearch
[10:24 am] apple :
thx mike
[10:24 am] go4it :
cymi
[10:25 am] go4it :
oops
[10:25 am] apple : there was a
pivot at 24.17, another at 24.77
[10:26
am] Ed : nice going mike
[10:27 am]
mikewd2 -: thanks Ed, needed that
one
[10:27 am] mikewd2 -: i was thinking i
should have stayed at the casinos,
lol
[10:27 am] qwert : Ed where do
you have your trailing stop now on
qcor
[10:27 am] Ed : we use to get atleast
4 of these per day
[10:27 am] Ed :
23.76
[10:28 am] qwert :
thx
[10:29 am] chinhngo : buy cover
cymi at 70.87
[10:30 am] Ed : nice going
chin
[10:30 am] chinhngo : thank
go4it
[10:30 am] go4it : Great trade
Chin1
[10:30 am] mikewd2 -: nice
chin
[10:31 am] Ed : and chin says, “they
call me Mr. chin”
[10:31 am] taco :
nice mr. chin
[10:31 am] chinhngo :
lol
[10:31 am] mikewd2 -: FIRE trying to
bounce
[10:32 am] mikewd2 -: FIRE can’t
seem to break that downward trend
[10:35
am] apple : good one, E
[10:37 am]
apple : there looks to be more downside
on CYMI to me
[10:37 am] qwert :
monitoring MLNX
[10:37 am] elisha :
What do you think of AOS?
[10:39 am] Ed :
wish I had seen it right b4 that 60 level,
but i dont see high probability trade in it
here
[10:40 am] elisha :
thx
[10:40 am] go4it : i went half
out at +1.00 and have 1% trailing stop on 2nd
1/2 plan to tighten stop at 69 if im still in
because that’s about 50%
retracement
[10:40 am] Ed : nice trading
bruce
[10:40 am] go4it : thks Ed
your support means alot to me
[10:40 am]
murano : DG
[10:41 am] shark :
LULU drop
[10:42 am] mikewd2 -: DG broke
200ema on daily
[10:46 am] go4it :
die CMYI DIE!
[10:46 am] apple :
great trade for you go!
[10:47 am]
go4it : Great late morning trading
unusual PST that is
[10:50 am]
chinhngo : sold mlnx at 98.87
[10:51
am] apple : nice beautiful drop in the
ES to prepare for that move higher
[10:51
am] victor51 : Mitch, MLNX chart
please
[10:53 am] chinhngo : bought
dg at 48.29
[10:53 am] lisas : Is
there a buy on TOL?
[10:53 am] Ed : that
very late chin
[10:53 am] mikewd2 -: real
late chin
[10:53 am] chinhngo : sold
dgat 48.53
[10:54 am] lisas : Just
came in from outside, a lot of the stocks I
had up dropped, was there news?
[10:54 am]
go4it : Out 70.35 🙂
[10:54 am]
apple : good job go!!!
[10:54 am]
shark : lisa TOL looks like too small a
potential move
[10:55 am] Ed : not
yet
[10:55 am] lisas : Just
comparing charts Shark, I’m babysitting a
puppy
[10:55 am] go4it : TY
A
[10:55 am] lisas : lots of
distractions
[10:55 am] shark : ok,
whewww
[10:55 am] apple : haha
lisa
[10:55 am] Ed : no trading allowed
then lisa, since u have
distractions
[10:55 am] Ed : QCOR being
defended
[10:55 am] lisas : for
sure, just trying to save my shoes
[10:56
am] apple : thx E
[10:56 am]
shark : I’ve heard of training
monkeys…
[10:56 am] lisas : Just
put her back in her crate, have a few minutes
of peace.
[10:56 am] shark : nice
murano, Mitch
[10:57 am] mikewd2 -: missed
DG short entry
[10:57 am] apple : go
4 it mike
[10:58 am] taco : ya
thanks murano
[10:59 am] mikewd2 -: thanks
Mitch, also thanks for the reminer on long to
scale in. that worked great.
[10:59 am]
mikewd2 -: reminer = reminder.
[11:00 am]
mikewd2 -: I need to remember to scale into
these type trades.
[11:00 am] shark
: FDO similar chart, CNBC unsure
why
[11:00 am] mikewd2 -: takes pressure
off trying to hit the bottom
[11:01 am] Ed
: i like catching the handle
[11:01 am]
mikewd2 -: yep
[11:01 am] victor51 :
qwert r u in MLNX?
[11:01 am]
elisha : Handle?
[11:01 am] Ed : i
was just messing with mike
[11:01 am]
mikewd2 -: handle of the falling
knife
[11:02 am] elisha :
ok
[11:02 am] elisha :
ohhhhhhhh
[11:02 am] chinhngo :
bought dg at 48.0
[11:03 am] apple :
better to be on the side of the
handle
[11:03 am] chinhngo :
yes
[11:04 am] elisha : you mean as
opposed to grabbing the blade
[11:04 am]
Ed : to much risk at that
level
[11:04 am] apple : you will
get cut
[11:04 am] chinhngo : sod dg
at 48.02
[11:05 am] chinhngo :
dg
[11:05 am] chinhngo : take your
advice thank mr mitch
[11:06 am]
shark : 🙂 nice chin
[11:07 am]
qwert : sorry victor just saw post no
missed mlnx but got Dg
[11:09 am]
victor51 : Qwert, thanks i am
inMLNX
[11:09 am] qwert : nice
victor
[11:09 am] mikewd2 -: shark, what
you think about buying put and call on CYMI
at 70, weekly
[11:10 am] shark :
yup
[11:10 am] elisha :
yes
[11:10 am] qwert : yes
[11:11
am] apple : MK it moved down pretty
quicky first
[11:11 am] cowboyh :
stall buzzer is going off
[11:12 am]
mikewd2 -: CYMI moving up
[11:12 am]
shark : studying it, mike
[11:12 am]
shark : looks like buyout
[11:13 am]
mikewd2 -: yes, $20 + 1.1502 shares of
ASML
[11:13 am] mikewd2 -: weekly put was
1.10’ish, call was 1.35’ish.
[11:13 am]
mikewd2 -: so you get a few point move your
going to cover the other and still make
move.
[11:13 am] mikewd2 -:
money
[11:13 am] shark : unless the
buyout has issues, should flatten
out
[11:14 am] mikewd2 -: well this bounce
already has me winning.
[11:14 am] mikewd2
-: hope to sell the call with nice profit
then hope for the selloff
[11:14 am]
shark : oh, great
[11:15 am]
shark : I would look to sell
65put/75call, but no premium left on
weekly
[11:15 am] mikewd2 -: got out of
short on DG a bit early
[11:15 am]
apple : are you guys ATM on
CYMI?
[11:15 am] shark : I’m not in,
apple, discussing strategy
[11:15 am]
elisha : yes
[11:15 am] taco :
yes
[11:16 am] shark : I’ve done
that in a biplane before, Mitch.
[11:16
am] shark : Have some nice footage,
too
[11:16 am] apple : wow
shark
[11:17 am] victor51 : Thanks a
lot Mitch for MLNX
[11:17 am] taco :
are you a pilot shark?
[11:17 am]
shark : I am, taco
[11:18 am]
shark : private pilot
[11:18 am]
taco : i’m slowly working on my
license
[11:18 am] shark :
greeeaaattt
[11:18 am] taco :
same
[11:18 am] taco : ya
[11:18
am] shark : where do you fly out
of?
[11:18 am] taco : im in canada
near toronto
[11:19 am] shark :
beautiful
[11:19 am] taco : where
are you?
[11:20 am] shark : i
trained out of the busiest general aviation
airport in the world: Van Nuys, CA
[11:20
am] taco : lol
[11:20 am]
shark : you know it?
[11:20 am]
taco : no, but can imagine
[11:20
am] shark : 😉
[11:21 am] taco
: is lightning something available to
us?
[11:21 am] taco : or still in
the works?
[11:22 am] lisas : still
in the works taco
[11:22 am] taco :
)
[11:23 am] chinhngo :
yes
[11:23 am] Ed : Mitch is workn on
getting it available for next week
taco
[11:23 am] chinhngo : but i do
not have lightning chart like you
[11:24
am] taco : ok, will wait to see what
its about and entails..
[11:24 am] Ed :
thought process chin is same no matter what
system
[11:25 am] taco :
sell
[11:25 am] elisha :
sellsellsell
[11:25 am] murano : Get
out
[11:25 am] chinhngo :
sell
[11:27 am] taco :
right
[11:27 am] elisha :
yes
[11:28 am] mikewd2 -: out half DG
long
[11:28 am] taco : nice
mike
[11:28 am] mikewd2 -: went long
27.23
[11:28 am] mikewd2 -:
47.23
[11:29 am] taco :
figured
[11:30 am] mikewd2 -: alll out
47.15
[11:30 am] Ed : u mean 48.15
mike
[11:31 am] taco : lol
[11:31
am] mikewd2 -: sorry
[11:31 am] mikewd2 -:
yes
[11:31 am] shark : DG getting
thru vwap, sweet
[11:31 am] eddy :
then if it is 18.15 good trade
Mike:)
[11:31 am] mikewd2 -: should have
waited on lightning sell signal
[11:31 am]
eddy : sorry 48.15 lol
[11:31 am]
chinhngo : yes
[11:31 am] mikewd2 -:
dang
[11:31 am] taco : very much
Mitch
[11:32 am] elisha :
yes
[11:32 am] shark : Mitch, can
you share a decent scale in strategy for DG,
and how you would do it?
[11:32 am]
mikewd2 -: good question shark
[11:33 am]
shark : you suggested scaling in on
DG
[11:34 am] eddy : MItch can we
see DG in Lighting now?
[11:34 am]
shark : that would be like dollar cost
averaging up, yes?
[11:35 am] mikewd2 -:
that helped me on DG long entry, i usually go
full posiiton and then hope i hit the
bottom
[11:35 am] shark : so you go
in 25% at a time?
[11:35 am] shark :
or something like that?
[11:36 am]
shark : ok, gotcha, makes good
sense
[11:36 am] mikewd2 -: good advice
Mitch, thanks
[11:37 am] chinhngo :
so now is short dg at 48.40 ?
[11:38 am]
shark : 🙂
[11:38 am] joeytsa
: thats all you can ask for from a
mentor
[11:38 am] taco : thanks
Mitch
[11:42 am] elisha : Thank you
Mitch
[11:42 am] shark : “I sell too
soon” (DG was good, though)
[11:43 am]
chinhngo : thank mitch
[11:45 am]
joeytsa : very good advice
Mitch
[11:46 am] shark : retested
vwap DG
[11:49 am] mikewd2 -: CYMI still
moving up
[11:50 am] joeytsa :
usually acquisition gaps dont move so
much…was there other news?
[11:51 am]
mikewd2 -: well the price of the buyout put
it up very near 80 based on ASML
price
[11:51 am] joeytsa :
right
[11:52 am] shark : joey,
investigation into poss breaches of fiduciary
duty by board of CYMI
[11:52 am]
shark : in connection w/sale of company
to ASML
[11:52 am] joeytsa : oh
ok..i knew it had to be something
[11:54
am] mikewd2 -: so that’s why it sold off 10
points i guess.
[11:55 am] shark :
yeah, looks like lawsuit came shortly after
announcement
[11:56 am] joeytsa :
makes sense, i listed it in my pre-market gap
up list, you never know with
acs/takeovers/buyouts etc
[11:57 am]
joeytsa : go4it: you still
here?
[12:00 pm] joeytsa : SWK
bouncing a bit
[12:00 pm] go4it : Hi
Joey just got back thanks for CYMI
call
[12:01 pm] joeytsa : nice job
on that one…and i dont eat at buffets
haha
[12:01 pm] victor51 : Hi Ed, I
liked your exit for MLNX. Can you please
expand on it
[12:01 pm] mikewd2 -: WLT
having a big day
[12:01 pm] joeytsa
: yeah mike, are you on it
[12:01 pm]
joeytsa : you were looking at a
potential short earlier
[12:01 pm]
go4it : LOL we kind of figured
that
[12:01 pm] joeytsa :
🙂
[12:02 pm] go4it : How about
farmers market
[12:02 pm] mikewd2 -: no i
got stopped and never went long
[12:02 pm]
shark : WLT just broke through 100day
ma
[12:02 pm] joeytsa : thought you
might have reversed it
[12:02 pm]
shark : i was thinking the
same
[12:02 pm] mikewd2 -: with the debate
talks on coal, should have went long at
open.
[12:03 pm] joeytsa : WLT
coming into a tri-top on the
daily..almost
[12:03 pm] shark :
yeah, quadruple top, joey
[12:04 pm]
joeytsa : and longer term its a
downtrend
[12:04 pm] shark : upside
down h&s pattern?
[12:06 pm]
joeytsa : good eye
[12:07 pm]
go4it : wlt
[12:07 pm] joeytsa
: maybe on a break above $40
[12:07 pm]
go4it : oops
[12:19 pm] murano
: IHY
[12:19 pm] murano : Forget
it
[12:20 pm] Ed : hey murano out of the
1000’s of great ideas, that IHY has to be the
worse 😉
[12:20 pm] joeytsa :
haha
[12:20 pm] murano : Really bad
idea
[12:21 pm] Ed : u were lookn at
daily
[12:22 pm] murano : I was
bored
[12:23 pm] Ed : so now we need
another 1000 great ideas
[12:23 pm]
shark : lol
[12:23 pm] murano
: I saw movement and……
[12:23 pm]
joeytsa : ive seen better bowel
movements 🙂
[12:23 pm] murano : I
will try to do better
[12:23 pm] Ed :
lol
[12:23 pm] joeytsa :
🙂
[12:23 pm] shark : lol
[12:24
pm] joeytsa : chart scaling can really
throw you off though
[12:24 pm]
joeytsa : i wished charts would just
stay in 20cent increments for example instead
of changing
[12:29 pm] murano :
HAL
[12:30 pm] mikewd2 -: all oil services
are jumping
[12:30 pm] joeytsa :
some news must have just hit
[12:31 pm]
joeytsa : or a missile did
🙂
[12:31 pm] taco : using time and
sales Ed. nice
[12:31 pm] mikewd2 -:
nothing good on HAL, bumpy forecast, capex
lowered, etc
[12:42 pm] joeytsa :
WLT made it to $39
[12:44 pm] mikewd2 -:
QCOR back to 25.60
[12:45 pm]
joeytsa : yeah it just hit my
scanner
[12:45 pm] joeytsa : bit
late in the day though for me
[12:46 pm]
mikewd2 -: RIG at resistance
[12:46 pm] Ed
: nice taco
[12:46 pm] taco : thanks
Ed
[12:48 pm] mikewd2 -: a little late but
in quick short on RIG
[12:48 pm]
apple : agree, joey, when the scaling
is off, it is difficult to judge the
move
[12:49 pm] joeytsa : yeah, i
hate when that happens
[12:50 pm]
joeytsa : what looks like an 80cent
move turns out to be 20cents
[12:50 pm]
apple : it’s all an
illusion…
[12:51 pm] apple : i see
the ES is selling off the hod
[12:51 pm]
mikewd2 -: WLT pushed thru 39
[12:54 pm]
apple : and URI reversed
earlier
[12:57 pm] qwert : Bye
everybody cya all in the am
[12:57
pm] taco : bye qwert
[12:58 pm]
apple : bye qwert
[12:59 pm]
lisas : bye all
[12:59 pm]
elisha : bye qwert
[12:59 pm]
elisha : bye lisas
[12:59 pm]
apple : bye everyone, thx and have a
wonderful evening
[12:59 pm] taco :
bye apple
[12:59 pm] taco : c you in
the am
[12:59 pm] elisha : GN Mitch,
Ed and everyone
[12:59 pm] joeytsa :
Thanks Mitch,Ed, everyone..see you all
tomorrow, enjoy your day
[01:00 pm]
apple : bye taco, how was trading for
you today
[01:00 pm] taco : very
good, thanks
[01:00 pm] elisha : bye
apple
[01:00 pm] taco : getting
better)
[01:00 pm] apple : good to
hear
[01:00 pm] elisha : bye
joey
[01:00 pm] elisha : bye
taco
[01:00 pm] taco : bye
elisha
[01:00 pm] taco : and
everybody
[01:00 pm] victor51 : Good
evening all
[01:00 pm] elisha : bye
victor
[01:01 pm] apple : hey joey,
there is a symbol for Churchill Downs, i see,
CHDN
[01:01 pm] joeytsa :
yep
[01:01 pm] joeytsa : its not
just the track though..the run a few tracks,
plus i believe an internet betting
service
[01:02 pm] apple : low,
volume. i also see MCP is at about $11
– wow, things sure drop from their
glory
[01:02 pm] apple : sounds like
an operation all right
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