[06:18 am] Kris : good morning traders
[06:19 am] Kris : GIS, AEM, UIS, DGX and MNTA
on the short side.
[06:19 am] Kris : This morning I’m watching
DG, ERTS, ALXN, FTNT, NFLX and MMM on the
long side.
[06:22 am] Brent : good morning
[06:29 am] Kris : Time to Rock!
[06:30 am] Kris : AMGN short half
[06:31 am] Kris : CROX short half
[06:31 am] Kris : RIMM short half
[06:32 am] Kris : PCAR short half
[06:33 am] Kris : APKT short half
[06:33 am] Kris : DLTR holding up, will watch
for a long on a market reversal
[06:33 am] Kris : out half RIMM short
[06:33 am] Mitch : watching MOS for bottom
[06:33 am] Mitch : watching MPC for bottom
[06:33 am] Mitch : watching X for bottom
[06:34 am] Kris : DGX long half
[06:35 am] Kris : out another 1/4 RIMM
short
[06:35 am] Kris : out half PCAR short
[06:36 am] Kris : be selective
[06:36 am] Kris : look for the most money and
the cleanest moves
[06:36 am] Kris : we should get some nice
long reversal setups soon
[06:36 am] Mitch : watching for bottom in
FSLR
[06:36 am] Mitch : watching ITUB for
bottom
[06:36 am] Mitch : watching WFT for bottom
[06:37 am] Brent : watching F for a bounce
[06:37 am] Kris : out half AMGN short
[06:37 am] Kris : out half CROX short
[06:37 am] Mitch : watching for bottom in
DNR
[06:38 am] Mitch : index stocks bottoming
[06:38 am] Mitch : watching bottom for FCX
[06:39 am] Mitch : VLO started bouncing
[06:42 am] Mitch : SINA bouncing
[06:43 am] Kris : NVLS long
[06:44 am] Kris : DLTR long half
[06:44 am] Kris : OCN long half
[06:44 am] Mitch : watching for rebound in
DGX for 2nd short, missed first
[06:45 am] Mitch : consider reducing VLO
[06:45 am] Mitch : consider selling VLO
[06:46 am] Brent : consider reducing F
[06:46 am] Kris : RCII long half
[06:46 am] Mitch : consider reducing FSLR
[06:46 am] Mitch : consider short CRZO
[06:46 am] Mitch : let CRZO stop going up
first
[06:48 am] Kris : out half RCII long
[06:50 am] Kris : out another 1/4 RCII
long
[06:50 am] Kris : out half DLTR long
[06:52 am] Mitch : monitor RMD for top for
short but will take lot more time
[06:52 am] Mitch : watch DGX for top; don’t
short on new high
[06:54 am] Brent : watching SHW for a
short
[06:54 am] Kris : NVLS consolidating near the
hod, looking for another move up through
resistance
[06:54 am] Mitch : if WFT bounce here fails
to reach new highs, consider selling
[06:55 am] Mitch : correction: that was for
ITUB, last comment
[06:55 am] Mitch : WFT is acting strong
still
[06:56 am] Mitch : PBR shortable[06:56 am]
Mitch : X stalling
[06:57 am] Kris : SKS long over 10.88
[06:58 am] Kris : AMG short
[06:58 am] Mitch : RMD turning down
[06:59 am] Kris : TRV short
[07:00 am] Kris : PRGO long over 101.57
[07:02 am] Brent : consider reducing SHW
[07:02 am] Brent : next target 84.15 area on
SHW
[07:02 am] Kris : will watch ILMN for a
pullback to take long
[07:03 am] Mitch : consider reducing SINA
long
[07:04 am] Kris : GMCR starting to round off
a little, coming into trendline support
[07:04 am] Mitch : CRZO turning over
[07:04 am] Mitch : DGX turned over 2nd time,
look for series of shorts today
[07:05 am] Brent : consider reducing more
SHW, next target 83.52 area
[07:05 am] Kris : out half AMG short
[07:06 am] Kris : out half TRV short
[07:06 am] Mitch : short on RMD over;
consider covering
[07:06 am] Mitch : short on RMD over;
consider covering short on SINA top here
[07:07 am] Mitch : hold many shorts longer
than normal. indexes dropping
[07:09 am] Kris : nice V pattern setup on
MF
[07:09 am] Kris : thanks rustdog[07:10 am]
Kris : I think the lowest it can go is $0
apple
[07:10 am] Kris : lol[07:10 am] Mitch : SINA
too strong to short.
[07:11 am] Brent : SPY testing trendline
resistance
[07:13 am] Kris : SPY trying to put in a
higher low, if we break that trendline bert
mentioned look for a move into hod.
[07:13 am] Mitch : forgot to alert you to
sell MOS and short that followed; hope you
got out long and maybe shorted
[07:14 am] Kris : long small position in
ILMN
[07:15 am] Mitch : argh, missed UA short,
look for rebound to 80.50 area for 2nd short,
too late to short first helping
[07:17 am] Mitch : lost projector, conflicts
with Power Etrade’s flash
[07:17 am] Mitch : watching SHW for 2nd short
on top of this bounce
[07:18 am] Mitch : consider reducing CRZO
short, was big percentage move, too late now
to open short
[07:19 am] Kris : watching DMND for a long
soon
[07:24 am] Kris : out half ILMN long
[07:28 am] Kris : out all ILMN long
[07:37 am] Kris : ILMN could be setting up
for a short
[07:40 am] Kris : ARUN long over 25.05
[07:41 am] Kris : would like some
consolidation or a higher low pullback before
the break long.
[07:45 am] Kris : NFLX new hod[07:47 am] Kris
: JNPR new hod, looking trendy
[07:48 am] Kris : VRUS has fleas
[08:04 am] Kris : it means VRUS is very weak
against the market, nobody wants to pet that
dog.
[08:05 am] Kris : not responding to market
rallies
[08:05 am] Kris : not responding to market
rallies
[08:34 am] Mitch : see that chart on the
left, CRZO? when you have that high
volatility very quickly, there are multiple
chances to scalp those.
[08:35 am] Mitch : and with this pattern when
you see a fast drop, then a fast rebound, i
start looking for what has happened in the
last hour, a descent that gives up most of
the gains of the fast rebound
[08:41 am] Mitch : here is another example
similar to my comments to CRZO but this is
MOS, Mosaic this morning, lot of initial
volatility usually means you can keep looking
for more trades of it
[08:42 am] Mitch : and then you see same
pattern with another stock in same sector,
POT
[08:42 am] Mitch : just a reminder, keep
looking for more trades in the same stock
that gave a big one, like SHW did earlier
that Brent posted
[08:43 am] Mitch : it should be a habit of
yours like doing your laundry or taking a
shower. hopefully you do those things
[08:44 am] Kris : ALB setting up for a
short
[08:44 am] Mitch : ALB going to be a good
short, look at volume and price
[08:44 am] Mitch : beat you kris[08:45 am]
Mitch : no sell signal yet, just earliest one
on 1 min but not strong enough
[08:47 am] Mitch : but still looks strong
though, I’m waiting longer
[08:47 am] Mitch : first signal in ALB on 1
min chart
[08:47 am] Mitch : ok better signal
developing on short of ALB
[08:48 am] Mitch : ok strong, ALB still
strong
[08:48 am] Mitch : when they are strong,
focus on 2 or 3 min chart,
[08:49 am] Mitch : if you use a 1 min chart
on a really bullish stock for a short signal,
going to get a lot more false alarms
[08:57 am] Mitch : i think that Art Cashin is
the smartest guy on TV when it comes to
shorter term interpretation and forecasting
of the market
[09:32 am] Kris : if you got it, lock in some
profit and get ahead of the trade.
[09:32 am] Kris : not at this price eyes, it
was borderline around 32.30’s.
[10:50 am] Kris : FSLR ALERT
[10:50 am] Kris : thanks rustoleum[10:50 am]
Kris : watching FSLR for a long
[10:58 am] Kris : FSLR long
[11:39 am] Mitch : hard to tell what the
market is going to do on any or no news from
Europe tomorrow. UK released a headline that
Finance ministers are not meeting on
Wednesday
[11:39 am] Mitch : which is the reason why
stocks might be down today
[11:57 am] Kris : break time. be back in
30.
[12:03 pm] Mitch : you guys know that the
stocks I show on projector are ones I’m
interested in? occasionally i forget to
announce it, like the POT. been watching it
for a while, too late to buy now, was trying
to sync that with the indexes, which it did
very well
[12:04 pm] Mitch : both at 1140am pacific
time
[12:04 pm] Mitch : see the crosshairs on both
carts, correspond with same candle on
bottom
[12:04 pm] Mitch : both at 1140am pacific
time
[01:00 pm] Brent : have a great night, see
you in the morning
[01:00 pm] Kris : goodnight everyone. see
you all back here tomorrow morning.
[01:25 pm] Mitch : you guys looking at AMZN?
|
[06:00 am] boomboom : Hope someone in here
was short NFLX yesterday.
[06:07 am] shark : die, NFLX, die! Target
$50
[06:07 am] boomboom : Are you short,
Shark?
[06:07 am] shark : The MEAT of the drop is
nearing its end and it could be very CHOPPY
here
[06:07 am] shark : Been short since the
first gap down
[06:08 am] boomboom : Gooooooorgeous, Shark.
Way to have patience. 🙂
[06:08 am] shark : I was not in last
night.
[06:08 am] shark : I was actually slightly
bullish on earnings which beat by .22cents
[06:08 am] shark : BUT they guided
down…
[06:08 am] shark : Clearly the TREND on this
is down.
[06:08 am] shark : and it is Ferocious…
[06:10 am] shark : so…my longer term
target is $50 -based on about PE15 – for a
“mature” co.
[06:11 am] shark : will have to recalculate
that after today
[06:18 am] joeytsa : consumer confidence at
7am pst[06:20 am] joeytsa : gap down :
NFLX,SINA,BHP,VECO,MMM
[06:20 am] doji : S at 116.23 yesterday
although only a small amount
[06:21 am] joeytsa : gap up:
CSTR,DGX,FTNT
[06:22 am] joeytsa : CMI,MMM bad
earnings…good thing the economy has picked
up
[06:28 am] joeytsa : i think i read that
europe might push back decision again..will
try to confirm that
[06:30 am] rusty : SCSS downgraded to
neutral from buy
[06:32 am] skydiver : L NFLX 74.70
[06:34 am] skydiver : yes
[06:34 am] skydiver : out 1/2
[06:34 am] skydiver : L 74.70 sold 76.22
[06:35 am] joeytsa : CSTR with the gap close
🙂
[06:35 am] joeytsa : UPL nice leg down
[06:36 am] joeytsa : follow stop down on
NFLX
[06:37 am] joeytsa : smart advice Kris,
thanks for the reminder
[06:37 am] shark : NFLX new lod[06:37 am]
joeytsa : yeah shark, see if it takes out
the 73.50 level
[06:39 am] shark : NO eurozone finance
meeting tomorrow
[06:39 am] shark : consider AAPL short below
$400
[06:40 am] skydiver : AAPL SINA AMZN
dropping
[06:40 am] joeytsa : just got stopped on my
biggest ES trade of the year…1243 down to
1229 !!!!
[06:41 am] shark : Wow!
[06:42 am] ppann : Joey!!!!!!You the man
[06:42 am] joeytsa : nice 10 minute day 🙂
just imagine if i had done the shark short on
NFLX haha[06:42 am] jewels0 : Thanks for the
RIMM call guys
[06:43 am] ppann : lol i got 1252 down to
1230…18 cars…..shhhh[06:44 am] joeytsa :
so busy watching the ES i missed the bounce
in CSTR…it’s getting toppy again
[06:44 am] shark : AAPL finding support at
$400
[06:44 am] joeytsa : NFLX with a lower
high
[06:44 am] scalpman : Out 1/2 TNA L
[06:45 am] joeytsa : FSLR weak on that last
bounce..look for more downside
[06:45 am] doji : TZA
[06:46 am] rusty : SPEX radar
[06:46 am] rusty : big move low volume
[06:46 am] ppann : cvrd SFSF at 25.25 from
25.97…..700 shares….now i sit on my
spread and watch the market for a while..
[06:46 am] joeytsa : missed nice move in
NOV..keep it on the watchlist[06:47 am]
scalpman : Out another 1/4 TNA L
[06:47 am] rusty : EU LEADERS’ SUMMITS WILL
TAKE PLACE TOMORROW, U.K. SAYS
[06:47 am] scalpman : All out TNA L
[06:47 am] joeytsa : ANF hod[06:48 am]
joeytsa : thanks rusty..that’s probably what
cause the quick spike on the ES
[06:49 am] lightning : watching UA for a
short opportunity
[06:52 am] joeytsa : UA reports earnings
today
[06:52 am] shark : volume drying up on my 5
min NFLX chart
[06:52 am] joeytsa : tighten stop on NOV if
you are in
[06:52 am] rusty : SPEX hard to borrow
[06:54 am] joeytsa : GMCR nice trend down
[06:54 am] rusty : KMB hod… people using
toilet paper again
[06:54 am] joeytsa : FOSL punching thru prev
cl
[06:56 am] joeytsa : UA turned, see if find
support
[06:56 am] mhaus : TGI
[06:56 am] boomboom : Nice call on SHW
short, Brent..couldn’t grab is fast enough
[06:57 am] joeytsa : X was over $60 earlier
in the year, now struggling under $25
[06:58 am] joeytsa : UA held support and
trying for hod[06:58 am] rusty : NFLX rsi
22
[06:59 am] lisas : consumer confidence at 10
am est[06:59 am] joeytsa : rusty: rsi =
reduced subscriber index for them
[07:00 am] joeytsa : GMCR lod[07:00 am]
rusty : everyone liked it at 300
[07:00 am] mikewd2 -: anyone long NFLX?
[07:00 am] anthonyb : CRZO got .01 from my
stop. Sheez…
[07:01 am] mikewd2 -: 39.8 confidence
[07:01 am] mikewd2 -: way down from august
[07:01 am] rusty : vs 46 expected
[07:02 am] scalpman : Out 1/3 SHW S
[07:03 am] rusty : MF not happy
[07:03 am] rusty : looks like someone
thinking bankruptcy
[07:04 am] joeytsa : I’m sure more than 1
someone
[07:04 am] joeytsa : GS pushing for
lod[07:04 am] anthonyb : who? ‘s short the
ES? Joey? Ppann?
[07:05 am] joeytsa : no, i missed that last
drop
[07:06 am] joeytsa : UFS looks ugly, lower
vol stock
[07:06 am] joeytsa : trail UA long
[07:07 am] shark : Analyst Montgomery Scott
– NFLX est $51 price target
[07:07 am] boomboom : Mitch…target on that
DGX short?
[07:07 am] anthonyb : Thanks Mitch. Will
do
[07:08 am] scalpman : All out SHW great one
Kris
[07:08 am] rusty : MF – “Man Overboard”
[07:09 am] apple : how low can it go???
[07:10 am] ppann : long es at 32.75
[07:10 am] ppann : 1/3 position
[07:10 am] apple : lol – of course —
[07:11 am] shark : did you pick up an GMCR
s, joey?
[07:11 am] observer : Metals at HOD
[07:11 am] rusty : IBM buyback
[07:12 am] ppann : scalpd +2 all out
[07:13 am] anthonyb : I’m done early today.
😉
[07:14 am] joeytsa : yeah shark..shorted it
at 70 covered 69
[07:14 am] anthonyb : like Joey says, I’ll
watch for fastballs down the middle
[07:14 am] joeytsa : amen…why swing at a
pitch that’s not over the plate
[07:15 am] rusty : JNPR alert
[07:15 am] rusty : JNPR alert
[07:16 am] joeytsa : AGQ hod[07:16 am] ppann
: bulls must convert1239 on the ES
[07:16 am] eyes-inthenow : DV
[07:16 am] rusty : SPEX 2’s
[07:17 am] joeytsa : NEM running
[07:19 am] shawnt4 : Nice call on CRZO short
Mitch
[07:19 am] joeytsa : tighten AGQ stop if
in
[07:19 am] rusty : JNPR hod[07:20 am] rusty
: running on ISI data
[07:20 am] apple : thx rusty, L JNPR
22.95
[07:20 am] ppann : took half of my spread
off +30 handles so far
[07:20 am] joeytsa : AGQ..90cents for the
good guys 🙂
[07:22 am] scalpman : Out 3/5 ILMN L
[07:25 am] rusty : SPEX lod[07:26 am]
scalpman : nwe hod on ILMN
[07:26 am] scalpman : Out 2/3 SHW L
[07:27 am] mbear : CMI
[07:27 am] scalpman : All out ILMN forgot to
move up my limit…oh well.
[07:27 am] scalpman : All out SHW L
[07:28 am] mbear : THANKS for ILMN Kris
[07:29 am] victor51 : thanks Kris for
ILMN
[07:29 am] observer : nice, Kris, ILMN
[07:29 am] joeytsa : gold miners had a nice
run
[07:29 am] apple : thx for ILMN, K
[07:31 am] mikewd2 -: SHW turning over
[07:31 am] lightning : still hanging onto my
last 1/4 ILMN. You never know.
[07:32 am] sonorant : out all ILMN, what a
run, thanks Kris
[07:32 am] eyes-inthenow : Did anyone get DV
very nice
[07:34 am] lightning : out my last ILMN
[07:36 am] Kris : good job matt
[07:36 am] Kris : thanks for holding some for
me
[07:37 am] lightning : no problem. 1/4 of a
share was worth about an extra 5 cents
[07:37 am] klas : Thanks for ILMN Kris
[07:37 am] ronfrac : Kris: In ILMN 28.87 out
late 30.56. Thanks
[07:38 am] rusty : UIA radar
[07:38 am] rusty : UIS pardon
[07:39 am] rusty : UIS running on earnings
beat
[07:41 am] eyes-inthenow : DV perfect V
[07:42 am] chinhngo : i have short crm mon
cam can i still hold it or buy cover please
help
[07:43 am] lisas : chin, did you use stops?,
when did you enter?
[07:44 am] apple : +2 on ILMN – thx K
[07:45 am] Kris : let’s take one at a time
chinhngo[07:45 am] Kris : what price are you
short CRM and do you have a full position?
[07:55 am] lisas : selling puts on nflx
shortly after open would have been very
profitable. Not trading options yet myself,
just an observation.
[08:03 am] jsn13 : Kris did u go in to NFLX
juz now?
[08:03 am] derns : NFLX…setting up for a 3
min fade?
[08:03 am] khall : okay, can I ask a newbie
question
[08:03 am] pmarvel : What does it mean VRUS
has fleas?
[08:04 am] apple : as i said before, K how
do you know VRUS has fleas?
[08:04 am] khall : When we go into positions
in the am, I am jumping out too early I
think . Do we get guidance in and out of
positions or are we kind of using our own
judgement to exit?
[08:05 am] pmarvel : Oh I see.
[08:05 am] trvlntrdr : khall sometimes they
warn you on some positions but you should not
rely on that.
[08:05 am] trvlntrdr : because they can’t
hold our hand on everything.
[08:05 am] trvlntrdr : make sure you study
mitch’s courses
[08:06 am] lisas : khall, generally try for
1% first target, also look at support and
resistance
[08:06 am] trvlntrdr : and the webinars if
you attended
[08:06 am] ronfrac : short ILMN, ARUN
[08:06 am] apple : right, trv and lisa —
khall ultimately you make the decisions.
[08:06 am] lisas : Webinar is best, see if
they plan on selling DVD’s or access for
people that missed it
[08:06 am] khall : I’ve watched the webinars
– most of them
[08:07 am] khall : I really wish they’d do
the dvd[08:07 am] khall : I keep going back
and reviewing!
[08:07 am] khall : thanks for the answers
🙂
[08:07 am] apple : khall – web 4,5,6 explain
the strategies and where stops should be and
when to get out
[08:08 am] boomboom : SHW finally
cracking
[08:08 am] trvlntrdr : unfortunately this is
not an exact science and the market doesn’t
perform as desired even for the masters
[08:09 am] mhaus : ALB
[08:09 am] lisas : Keeping the set ups/
entries/stops from webinars nearby initially
until you have them memorized. focus on just
a few trades to start. Far more ideas will be
posted than you can trade, so pick and
choose.
[08:10 am] khall : right
[08:10 am] khall : I’m going to have to
review webinar again tonight
[08:10 am] khall : even so, I’m batting
about 60%
[08:11 am] khall : but I lost way more on
one trade today than I should have – my own
fault, I knew better
[08:11 am] lisas : well, that very good,
keep it up.
[08:12 am] khall : being in here really
helps a whole lot though
[08:12 am] khall : now to figure out what is
up with my ninjatrader[08:12 am] khall :
it’s frustrating bcuz prices on there don’t
always match IB
[08:15 am] sonorant : khalll, are you using
kinetick as a data provider?
[08:16 am] ronfrac : Looks like indexes
turning up covered ARUN and ILMN for small
profit
[08:17 am] jsn13 : Kris were u in NFLX juz
now?
[08:17 am] boomboom : Neg ( NXPI ) – GOOGLE
CANCELS NFC STRATEGY
[08:17 am] Kris : I took a trade on it
earlier jsn, I’m out now
[08:18 am] jsn13 : Did u post an alert?
[08:18 am] Kris : [07:45 am] Kris : NFLX new
hod[08:18 am] pmarvel : AMD alert
[08:18 am] jsn13 : so at that point means u
were already in or how did u trade NFLX?
[08:19 am] pmarvel : AMG sorry
[08:19 am] Kris : that was my trade. I
didn’t feel confident posting a trade alert
on it. I don’t post every single trade I
take every day in the room.
[08:19 am] jsn13 : Ok thanks….
[08:19 am] trvlntrdr : i think NFLX is
losing its oomph for this am
[08:23 am] eyes-inthenow : TSO
[08:26 am] eyes-inthenow : SLM
[08:26 am] scalpman : ALB L @ 48.58 out
4/5
[08:26 am] scalpman : Sorry….late to
post…
[08:27 am] mhaus : UA
[08:27 am] scalpman : All out ALB
[08:28 am] scalpman : thanks mhaus…good
one.
[08:29 am] mhaus : just scalped GMCR. L68,
out 68.75
[08:31 am] ronfrac : ilmn breaking up
[08:31 am] scalpman : ALB S @ 49.00
[08:31 am] mhaus : no, too dangerous for
me
[08:32 am] scalpman : ALB
strong…tightening stop…
[08:33 am] scalpman : stopped….
[08:34 am] mhaus : scalpman, ALB is in an
uptrend. All indicators point upwards.
[08:34 am] apple : scalp, i was thinking
this morning how much i loved Lake Forest!
[08:34 am] scalpman : but ALB still toppy,
that was a last gasp maybe…I will
watch…
[08:34 am] mhaus : why short?
[08:34 am] mhaus : look at the 3M chart
[08:34 am] scalpman : Probably will
consolidate for a while….should have
thought of that earlier.
[08:35 am] scalpman : So much for
consolidation on ALB….
[08:35 am] joeytsa : AGQ hod[08:36 am]
joeytsa : thanks for ALB scalp
[08:37 am] mhaus : BTU
[08:37 am] scalpman : Riding up ALB from
49.70
[08:38 am] scalpman : Out 3/5 ALB 1%
[08:39 am] scalpman : Out another 1/5 ALB
L
[08:41 am] scalpman : All out ALB wow….
[08:41 am] joeytsa : beautiful chart
Mitch
[08:41 am] candelas : nice scalp
[08:42 am] apple : thx MK – very helpful
[08:43 am] joeytsa : thank you for the
reminders…always know what to do, just
don’t always do what i know 🙂
[08:44 am] joeytsa : ALB still rockin’ it
[08:44 am] joeytsa : just wear your clothes
while you shower..kill 2 birds with 1 stone
🙂
[08:45 am] Brent : that’s what wives are
for
[08:47 am] scalpman : SLB S @ 51.95
[08:48 am] scalpman : stopped in the
green
[08:48 am] scalpman : ALB
[08:48 am] scalpman : OUt EVEN ALB
[08:48 am] scalpman : It is strong….
[08:49 am] joeytsa : AMZN lod[08:50 am]
mhaus : all out ALB @52
[08:51 am] apple : nice nhaus[08:52 am]
rusty : Merrill downgrades NFLX
[08:52 am] mhaus : Thx. Done for the day.
Going in SIM mode.
[08:52 am] Kris : lol Merrill
[08:53 am] joeytsa : how timely of them
[08:53 am] joeytsa : i hereby downgrade
WorldCom and enron 🙂
[08:56 am] joeytsa : NVS big spikes
[08:57 am] rusty : NVS rumored to have
received subpoena
[08:58 am] joeytsa : thanks rusty
[08:58 am] scalpman : ALB S @ 52.00
[08:59 am] scalpman : OUt 3/5 ALB S 1%
[08:59 am] pandozzi : gotta love art’
[08:59 am] observer : I agree, Mitch. He’s
sharp.
[09:02 am] joeytsa : agreed Mitch, Art is
one of only a handful of guys i think grasp
things
[09:02 am] scalpman : All out ALB….last
stop in the green…
[09:02 am] joeytsa : SINA taking a dump
[09:02 am] sonorant : I have gotten eaten
alive on ALB
[09:03 am] joeytsa : AGQ still strong
[09:03 am] scalpman : Probably too tight,
but with this stock today it could run up
again.
[09:03 am] derns : Thx..he does call it the
way it is…a good umpire
[09:04 am] joeytsa : yeah, i don’t want
someone to sugarcoat things
[09:05 am] rusty :
http://www.bloomberg.com/news/2011-10-25/nova
rtis-s-alcon-unit-got-u-s-subpoena-on-marketi
ng-payments.html
[09:05 am] rusty : NVS
[09:06 am] pmarvel : Where should be ALB
sell signal? Stoch up on 2 or 1 min chart?
[09:06 am] scalpman : Time to go…I have to
depart at 11:00ish. Another positive day…5
for 6…. Thanks for all the good
recos..[09:08 am] lightning : out 1/2 ALB
short
[09:08 am] scalpman : Thanks all…you
too….love this room and am appreciative of
all the good folks here.
[09:08 am] trvlntrdr : The sad thing is,
Germany, UK and France aren’t in good shape
financially either. they just can still make
payments on debt
[09:08 am] dano : GM everyone…S ALB
51.3
[09:09 am] joeytsa : terrible shape…i
think the euro is doomed..just don’t see a
plan that will work right now
[09:09 am] Mitch : hi dano, that sure is late
on the ALB short entry, just have very big
stop loss from that price
[09:10 am] dano : roger that, thnx M
[09:10 am] joeytsa : i read that if we paid
back our debt at the rate of
$1000/second….it would take close to 300
yrs to pay it off
[09:10 am] dano : have a SL at 51.83
currently
[09:11 am] mikewd2 -: might not be big
enough
[09:12 am] trvlntrdr : my understanding, is
that none of the countries are keeping the
agreements to be financially sound for the
Euro
[09:12 am] trvlntrdr : that none of them
would be permitted to join the euro now
[09:13 am] joeytsa : original plan was for
yearly budgets to NOT exceed 3% of GDP
[09:13 am] joeytsa : some are between 10-32%
right now
[09:14 am] trvlntrdr : yep
[09:14 am] joeytsa : FOSL with a nice
move
[09:18 am] pmarvel : Where should I look for
ALB short exit ?
[09:19 am] joeytsa : in this area i think
[09:19 am] joeytsa : indis hooking up
[09:20 am] joeytsa : pmarvel, i didnt catch
your entry price
[09:20 am] pandozzi : grabbed a buck on alb
short thx guys
[09:20 am] pmarvel : 51.85
[09:20 am] Mitch : good job pandozz[09:21 am]
joeytsa : lock that profit pmarvel, or at
least trail it to the profit zone
[09:21 am] Mitch : marvel, ALB is very strong
and is a stock i would look for repeated
scalps but you have to be precise on your
entries
[09:22 am] pmarvel : Exit at 51.55 paper
trade
[09:22 am] joeytsa : AGQ still moving
hod[09:24 am] joeytsa : on your first “live”
trade, use a small position so you can get
that emotional tie to the trade
[09:24 am] pmarvel : Whoa ALB shot up, lucky
me!
[09:24 am] joeytsa : you’ll learn more from
1 REAL trade than from 10 sim trades….
[09:24 am] joeytsa : but sim is GREAT to
learn your technique with
[09:25 am] dano : …back to the drawing
board. Thought a week off to regroup would
help…I suppose not…LOL. Just not my time
yet.
[09:25 am] joeytsa : only problem is that
you lose real money when things go wrong
🙂
[09:25 am] joeytsa : what happened
dano[09:25 am] ronfrac : Mitch: CRZO in
[email protected] out 26.97 Thanks good one
[09:26 am] joeytsa : nice ron[09:26 am]
apple : nice ronfrac[09:26 am] pandozzi :
nice trade
[09:26 am] joeytsa : what got into the gold
sector today
[09:26 am] eyes-inthenow : ILMN looking
good
[09:26 am] dano : shorted alb, late I
suppose and got stopped. Thought it would go
well as I watched the SPY go down..alb then
spiked up…LOL wow.
[09:26 am] joeytsa : that face that euope is
kaput? 🙂
[09:27 am] eyes-inthenow : Kris would you
consider Fade ILMN HERE
[09:28 am] joeytsa : unless you are quick,
those trades can be tricky
[09:30 am] dano : it seems when I enter
immediate on some, I get belted. When I wait
to be more sure of the move, I enter and then
get belted. Right now, can’t win to save
my…
[09:30 am] joeytsa : closing out AGQ
gain…nice trend up
[09:30 am] pmarvel : I exited ALB by Joey’s
advice. What is the signal actually?
[09:31 am] eyes-inthenow : Any thoughts on
ILMN Joey
[09:31 am] lisas : dano, what helped my
trade a lot, is NOT entering when the post,
but making sure I have a clear signal via the
set ups. If I miss it, I wait for next
trade
[09:31 am] joeytsa : i won’t be shorting
ILMN
[09:31 am] ronfrac : ILMN in avg 31.20 out
400 at avg 31.93. Thanks to someone. One of
my favorite stocks
[09:31 am] joeytsa : might look to buy it on
next support test
[09:32 am] dano : looked at my indicators
and looked good to enter
[09:32 am] apple : good advice, lisa — if I
miss it, there is always another trade to
take
[09:33 am] eyes-inthenow : I did not get
it
[09:33 am] joeytsa : shorting strong stocks
can be tough
[09:33 am] joeytsa : might want to avoid
that for now and just buy dips on stocks
moving up or shorting stocks moving down
[09:34 am] joeytsa : look at GMCR…
[09:34 am] joeytsa : just trending down
[09:35 am] dano : was ready to get back on
the horse after last week. Thrown to the
ground again. Time to dust off and re-think
this mess.
[09:35 am] mikewd2 -: dano: I’ve had a rough
couple of weeks also.
[09:35 am] mikewd2 -: it happens
[09:35 am] sonorant : dano,d I know the
feeling. I was doing great early on, and
then I hit ALB.
[09:35 am] mikewd2 -: went back to old habits
– which really cost me a lot of money.
[09:36 am] sonorant : I’m often slow to
recognize chop
[09:36 am] apple : take a deep breath, dano
and try to regroup. Be cautious, choosey and
most of all, patient — esp. w/yourself
[09:36 am] mikewd2 -: really need to spend
the weekend reviewing the webinar again.
[09:36 am] joeytsa : AGQ was another
multi-signal buy on the upmove[09:37 am] dano
: at 8% acct drawdown. Kinda hurts trying to
regain and ya keep gettin’ the golden frying
pan
[09:37 am] lisas : do you guys have
platforms that show your trades on the chart,
review those every night to see what you
could do better, what you did right,
etc[09:37 am] joeytsa : cut that down to a
lower % if you can
[09:37 am] khall : check out mpc chart
[09:38 am] mikewd2 -: i know my mistakes –
being STUPID
[09:38 am] dano : …yea, I’ve been viewing
the webs too. At this point I think it’s
mostly mental.
[09:38 am] mikewd2 -: mine too dano[09:38 am]
joeytsa : same here
[09:38 am] mikewd2 -: i bet way too much on
TZA
[09:38 am] eyes-inthenow : Dano 80% mental
20% strategies
[09:38 am] joeytsa : if i did the correct
thing, but still take a loss..i just blow it
off
[09:39 am] joeytsa : if i make a mistake,
that’s when it throws me off
[09:39 am] mikewd2 -: yeah, you can’t argue
with that joey.
[09:39 am] joeytsa : losing trades are a
part of this biz
[09:39 am] mikewd2 -: i’m in a major hitting
slump
[09:39 am] joeytsa : put your trade on, set
your target/loss…should stop any fear
[09:40 am] dano : sometimes I just don’t
know what was right and what was wrong. Not a
good place to be. Keeps you guessing which is
not good.
[09:40 am] joeytsa : i have been on a
roll…which usually sets me up for something
stupid
[09:40 am] mikewd2 -: yeah, the stop has been
part of my problem. I was getting so good
with that and then went away.
[09:40 am] joeytsa : it’s one of Mitch’s
rules
[09:41 am] joeytsa : you have to have rules
for stops..and keep them
[09:41 am] joeytsa : if you break 1 rule and
it costs you learn…
[09:41 am] dano : I can say this, you guys
here do help me keep my head above water.
It’s inspiring. Gonna go off to work and
ponder the move.
[09:41 am] joeytsa : if you break 1 rule and
it works in your favor, you end up breaking
more rules
[09:41 am] joeytsa : keep the faith
dano[09:42 am] dano : sure is tough now,
joey
[09:42 am] joeytsa : mike: you have gotten
better with stops though
[09:42 am] joeytsa : been there, still get
there from time to time
[09:45 am] sonorant : my biggest problem is
looking at a chart and thinking I see a
pattern and acting accordingly, and then
discovering that it was not the pattern.
Sometimes I didn’t look at a bigger chunk of
the chart — just saw a little piece.
Usually, if I were to back out and give the
chart the entire screen I would have a
different perspective. But I don’t always do
that.
[09:45 am] eyes-inthenow : Joey you use hard
or mental
[09:46 am] pandozzi : looks like alb is
sitting in this trading range. up or down
from here?
[09:46 am] joeytsa : hard on anything i
swing/hold…3% of total account value
[09:46 am] eyes-inthenow : how about day
[09:46 am] dano : yea son, I am always
looking at the diff timeframes for that
perspective.
[09:46 am] joeytsa : both on daytrades[09:46
am] joeytsa : usually
[09:46 am] sonorant : pandozzi, or sideways?
I didn’t see it was sideways nearly soon
enough.
[09:47 am] joeytsa : most are mental…i do
the eyeball-scan technique 🙂
[09:47 am] sonorant : though you are right,
it will be up or down eventually
[09:47 am] eyes-inthenow : Look at ILMN I
read it ok
[09:47 am] joeytsa : i also use a monthly
stop loss
[09:47 am] eyes-inthenow : just didn’t
trade
[09:48 am] joeytsa : all accounts have a 10%
total account stop each month
[09:48 am] joeytsa : i figure that if it
hits that, my trading is wayyy off
[09:49 am] sonorant : that is smart joey
[09:49 am] dano : that’s where I set mine at
joey..gettin’ darn close to that %
[09:49 am] pmarvel : Is SHW trending
down?
[09:49 am] joeytsa : even if i lost that 10%
each month….that buys me a heck of a lot of
time to get a nice winner
[09:50 am] joeytsa : but it gives me a
closer stop loss each month, which forces me
to be more selective
[09:51 am] dano : well I think I will just
have to stop the train. Maybe monitor TSA
along with the market and wait for a good
swing set up to help replenish the damage
[09:52 am] joeytsa : the %basis makes each
month loss lower in worst case scenario
[09:52 am] candelas : Hans on watch
[09:52 am] dano : …although that’s been
great too…LOL. Sheesh…
[09:52 am] apple : that sounds like a good
plan, dano, and study and learn… hang in
there
[09:53 am] joeytsa : UA looks a little weak
on that last bump up
[09:53 am] joeytsa : yeah dano..take your
time
[09:53 am] joeytsa : put all of the odds on
your side…i love that Mitch says that EVERY
night
[09:54 am] dano : biggest issue I think is
timing. Seems to be a day late and a dollar
(or two) short
[09:55 am] joeytsa : keep at it..it will
come
[09:55 am] eyes-inthenow : My biggest
problem is not trading even dollar amounts
[09:56 am] dano : Ok guys, off to get the
icepack again. thanks for all the support. It
really means a ton…kinda gets ya a little
misty eyed..lol. You guys rock. Peace out and
kick some for me.
[09:56 am] joeytsa : have a great one
dano[09:56 am] Kris : have a good one
dano[09:56 am] joeytsa : i do that too
[09:57 am] boomboom : OPEN nhod[09:59 am]
pmarvel : ALB shortable on top of this
bounce?
[10:00 am] joeytsa : not enough profit for
me on that
[10:00 am] pmarvel : OK
[10:01 am] joeytsa : doesn’t mean you can’t
take it
[10:02 am] eyes-inthenow : DM
[10:02 am] eyes-inthenow : DMND sorry
[10:02 am] boomboom : VRUS kicking off some
of those fleas
[10:02 am] duckfan : TEVA
[10:03 am] joeytsa : pmarvel: what i look at
might be different than what you or someone
else might be looking at..in terms of a
profit
[10:03 am] candelas : selling 3/4 of Hans
87.93
[10:04 am] candelas : stop b/e 87.38
[10:04 am] joeytsa : VRUS made a nice
correcting
[10:08 am] joeytsa : pmarvel, re:ALB , i DO
like that chart pattern of lower highs to put
a short on, along with the overbought stochs
signal
[10:09 am] pandozzi : im short @ 52
[10:15 am] boomboom : Got short at 52, as
well, Pandozii[10:15 am] boomboom : here’s
to a death drop on ALB
[10:20 am] boomboom : Covered my ALB at
51.85 for $15, bcuz that’s the kinda wimp
this girl is 😉
[10:20 am] joeytsa : sure beats a $15
loss
[10:21 am] eyes-inthenow : DMND any
thoughts
[10:21 am] pandozzi : i got 2000 shares open
still
[10:21 am] pandozzi : I’m crazy though
[10:21 am] boomboom : Crazy, brave, gutsy,
full of chutzpah..yep, at 2,000 shares,
you’re a tiger.
[10:21 am] pandozzi : you tiger now
[10:22 am] boomboom : I hope it dies. I’ll
put a stick in its spokes for ya. Head over
handle bars. 😉
[10:23 am] candelas : im out all of Hans
[10:23 am] pandozzi : i think if we can make
a low below 51.65ish it will drop
[10:25 am] boomboom : I agree
[10:25 am] boomboom : FN found it’s bottom
maybe
[10:25 am] boomboom : its
[10:27 am] sonorant : candels, was the last
of your HANS set at B/E? I went in on it on
the first green candle and then got cold feet
when it went down again, and didn’t get back
in a timely fashion. But the example really
helps. What is a good set up, what is worth
trading, [10:28 am] candelas : yes
[10:28 am] sonorant : thanks for the details
of the trade. great teaching example.
[10:28 am] lightning : CW spiking
[10:29 am] sonorant : all you ALB people, I
have an alert line set at 52. 21, and another
alert line set at 51.13. And I am not
touching it until one of those alerts fires,
and then I will look at it.
[10:29 am] rusty : Fabrinet today announced
that as of approximately 11:00PM Saturday
night, Bangkok time, flood waters had
infiltrated the offices and manufacturing
floorspace at its Chokchai campus in Pathum
Thani, Thailand. The manufacturing buildings
at Chokchai, known as buildings 1 and 2,
remain filled with water to a level of
approximately 3.5 feet.
[10:30 am] rusty : FN bottom is underwater
so to speak
[10:31 am] lightning : Funny, it only took
FN 3 days (1 1/2 trading days) to make that
announcement
[10:31 am] Kris : I guess they don’t have to
worry about it still being a sweat shop
[10:31 am] Brent : lol[10:32 am] boomboom :
Thanks for the FN info..
[10:37 am] sonorant : ALB up
[10:37 am] pandozzi : missed that long on
alb[10:38 am] mikewd2 -: FSLR
[10:38 am] boomboom : Gee wiz, ALB
[10:39 am] boomboom : whoa, FSLR..bad
news??
[10:39 am] boomboom : CEO of FSLR resigns
[10:40 am] pow : fslr tanking
[10:40 am] candelas : it was no shares for
short
[10:41 am] boomboom : a moment of silence
for those that were long on FSLR
[10:41 am] sonorant : GMCR heading down
[10:41 am] khall : okay, that made me
laugh
[10:42 am] derns : With no shares to short,
does that offer a chance for a nice, but
brief rebound at some point?
[10:43 am] lightning : HANS dropping,
setting up for a bounce I think
[10:43 am] rusty : FSLR alert
[10:50 am] mikewd2 -: 3min fade
[10:52 am] doji : FSLR not yet
[10:53 am] mikewd2 -: be patient
[10:56 am] doji : L half here
[10:58 am] mikewd2 -: L 47.60
[11:01 am] sonorant : HANS starting to
turn
[11:03 am] rusty : MHS radar
[11:03 am] mikewd2 -: head fake on HANS
[11:03 am] pandozzi : riding this alb
short
[11:04 am] boomboom : Way to go,
Pandozzi[11:04 am] mikewd2 -: we should get a
bounce in FSLR at some point
[11:04 am] mikewd2 -: right?
[11:05 am] trvlntrdr : FSLR knows something
we don’t
[11:05 am] qwert : fslr replacing ceo[11:05
am] trvlntrdr : I bet the F word is
involved.
[11:05 am] rusty : FSLR firm support at
zero
[11:05 am] mikewd2 -: first real bounce
maybe
[11:05 am] trvlntrdr : no one wants congress
after them before election
[11:06 am] boomboom : Aren’t FSLR earnings
coming up?
[11:06 am] pandozzi : covered made .50
[11:07 am] joeytsa : nice trade
pandozzi[11:08 am] pmarvel : FSLR in V
pattern
[11:08 am] mikewd2 -: Kris, you back in
FSLR?
[11:09 am] Kris : yes mike
[11:09 am] sonorant : I only got a fill of 1
share
[11:09 am] pmarvel : Let us know exit
[11:09 am] joeytsa : BIDU lod[11:10 am] Kris
: running into resistance here, I would exit
most and tighten stop here
[11:11 am] joeytsa : good call kris[11:11
am] apple : thx MK, K, B and everyone.
Gotta leave early today – everyone have a fun
evening.
[11:11 am] mikewd2 -: didn’t someone want to
buy FSLR back a few months ago?
[11:13 am] rusty : TLT hod[11:18 am] joeytsa
: RRC lod[11:19 am] derns : Is anyone long
FSLR?
[11:19 am] mikewd2 -: i am
[11:20 am] derns : It sure is moving
slowly..I suspect those who shorted in the
run down are waiting to cover
[11:21 am] joeytsa : AAPL lod[11:21 am]
mikewd2 -: wish they would hurry up and
cover, getting a bit worried.
[11:22 am] joeytsa : they might have covered
on that rise to 48
[11:23 am] mikewd2 -: not enough shares i
don’t think
[11:23 am] mikewd2 -: although i tried to
short and no shares
[11:23 am] joeytsa : UA tanking
[11:23 am] joeytsa : they were strong this
morning..total 180
[11:24 am] joeytsa : might be profit taking
b4 earnings?
[11:24 am] joeytsa : UA had 2 really nice
run-up’s since the Oct low
[11:27 am] mikewd2 -: wonder if FSLR is going
to miss earnings expectations
[11:27 am] rusty : Citi out on FSLR
[11:27 am] rusty : negative of course
[11:27 am] joeytsa : or worse to made the
guy quit
[11:28 am] mikewd2 -: he gets 2 years
severance, not bad
[11:28 am] trvlntrdr : I suspect it is
something bad with congress looking into
them
[11:29 am] trvlntrdr : it isn’t formal yet
but I bet some aides are snooping around and
FSLR has something to hide.
[11:29 am] joeytsa : a few yrs back, some
guy got $100M severance, can’t remember the
full story
[11:29 am] joeytsa : this was after he ran
the company into the ground
[11:30 am] joeytsa : AGQ hod[11:30 am] rusty
: Dick Grasso, lol[11:30 am] trvlntrdr : I
just don’t get these severances after
incompetence
[11:30 am] rusty : at the NYSE
[11:30 am] mikewd2 -: me either
[11:31 am] trvlntrdr : I can see a month’s
salary.. but 2 years
[11:32 am] rusty : IDXX alert
[11:32 am] rusty : moving down kinda fast
but low volume
[11:32 am] rusty : forget it
[11:36 am] rusty : playing for bounces not
so easy after market overbought and up 1500
points in couple of weeks
[11:36 am] rusty : and today first down
day
[11:36 am] joeytsa : yeah rusty..
[11:38 am] joeytsa : as of last night, NYSE
BPI, %above 30wk,%of 10wk were all on buy
signals, in column of X’s
[11:38 am] joeytsa : interesting to see
where they land today…
[11:38 am] joeytsa : 78% of stocks above
10wk ma
[11:38 am] rusty : joey, did you see the
NYMO as of last night?
[11:39 am] joeytsa : re: severance..i think
it was Qwest where the guy got the $100M to
leave
[11:39 am] joeytsa : glanced at it
quick..didn’t write it down
[11:40 am] joeytsa : you are talking about
the mcclellan?
[11:40 am] rusty :
http://stockcharts.com/h-sc/ui?s=$NYMO&am
p;p=W&yr=2&mn=0&dy=0&
amp;amp;id=p51055034527
[11:40 am] rusty : 91.33
[11:40 am] rusty : pretty rare occurrence
[11:40 am] joeytsa : nasdaq mo up high
too
[11:41 am] rusty : yup
[11:41 am] joeytsa : mcclellan i use for a
longer term look usually
[11:42 am] joeytsa : i check them every
night though
[11:42 am] hobart : T2108 @ 78%, or was
[11:42 am] rusty :
http://stockcharts.com/h-sc/ui?s=$BPNYA&a
mp;p=W&yr=2&mn=0&dy=0
&id=p06295236064
[11:42 am] rusty : NYSE Bullish %
[11:42 am] joeytsa : that’s a good one also
hobart, that’s what Mitch looks at on the
DSR
[11:43 am] hobart : yes
[11:43 am] joeytsa : i always look at the
BPI…on a p&f chart
[11:43 am] rusty : PIPR defending FSLR
[11:46 am] mikewd2 -: defending the change in
CEO? or earning? or ?[11:46 am] joeytsa :
the FXE hasn’t been able to get above the 140
level for a few weeks
[11:48 am] joeytsa : yeah Mitch…i just
don’t think they know what to do
[11:49 am] rusty : re CEO mostly mike
[11:50 am] rusty : management will not be
making any comments until earnings
[11:51 am] joeytsa : combine europe with no
answers and our consumer confidence
#’s…things look ugly
[11:52 am] joeytsa : but there’s always a
bull market somewhere…..think i heard
someone say that 🙂
[11:52 am] jsn13 : so u still holding on to
ur tza mikewd2?
[11:53 am] mikewd2 -: yeah, but my average is
a lot higher than were we are
[11:54 am] jsn13 : Why not juz get stopped
out and reenter?
[11:54 am] mikewd2 -: would have been the
smart thing to do
[11:54 am] joeytsa : what is this stopped
out you speak of 🙂
[11:55 am] mikewd2 -: i’ve done bad things
the last few days with no stops.
[11:55 am] joeytsa : interesting that TZA
has weekly’s but TNA doesn’t
[11:55 am] mikewd2 -: I’ve actually looked at
weeklies to sell calls on my TZA, but haven’t
yet
[11:55 am] joeytsa : when the market turns,
TZA/options on it will be nice
[11:56 am] shawnt4 : Think we can find a
couple of good trades in the last hour
[11:56 am] mikewd2 -: i was looking at them
to try to get back even – bad idea
[11:56 am] joeytsa : stay alert shawn, might
be a couple…
[11:57 am] joeytsa : my guess would be on
stocks with earnings releases ah
[11:57 am] mikewd2 -: earnings overall
haven’t been that good
[11:57 am] rusty : Whitney Tilson buying
NFLX
[11:57 am] joeytsa : i don’t like ANZN’s
crappy run into earnings
[11:58 am] rusty : Tilson covered his NFLX
short at the high
[11:58 am] joeytsa : will be watching
AMZN,UA,COH
[11:58 am] joeytsa : for the last hour
[11:59 am] joeytsa : plus the stocks on the
top riser/faller list
[11:59 am] rusty :
http://blogs.wsj.com/deals/2011/10/25/netflix
-whitney-tilson-changes-his-mind/
[11:59 am] mhaus : WDR
[12:03 pm] mhaus : LII
[12:03 pm] sonorant : well, so much for
WDR
[12:11 pm] pmarvel : Trailing stops should
be set as how many %?
[12:13 pm] joeytsa : wish i had a good
answer for you pmarvel[12:15 pm] joeytsa : i
go by feel, s/r levels..some of the other
traders here might have a much better use of
them
[12:16 pm] pmarvel : I’m just finding out
how to set trailing stops in IB’s TWS.
[12:16 pm] lisas : Back from taking cats to
vet, what fun!
[12:17 pm] sonorant : pmarvel, why are you
using IB’s TWS? Kris (and I think Brent)
and many traders here are using NInja Trader
with IB
[12:18 pm] trvlntrdr : TWS charting is
bad
[12:18 pm] trvlntrdr : although order entry
isn’t terrible
[12:18 pm] trvlntrdr : NT is better everyone
admits.
[12:19 pm] trvlntrdr : but if you don’t have
the money you can chart with NT for free
[12:20 pm] lisas : may be sell off into
close today, bonds heading up
[12:20 pm] pmarvel : How Trv?
[12:20 pm] trvlntrdr : download NT at
ninjatrader .com
[12:20 pm] pmarvel : Then?
[12:20 pm] trvlntrdr : then link it to IB
[12:21 pm] lisas : often doesn’t firm up
until 3:40 these days
[12:21 pm] joeytsa : ES turned down approx
12:08 est[12:21 pm] trvlntrdr : you have to
do your order entry in TWS
[12:21 pm] joeytsa : down 5 points since
[12:21 pm] trvlntrdr : until you rent or buy
NT
[12:22 pm] pmarvel : I did but every time I
call up a symbol instrument error message hit
me.
[12:22 pm] trvlntrdr : you do have to
preload many small cap stocks into NT
though
[12:22 pm] joeytsa : tighten stop on AMZN if
in
[12:22 pm] joeytsa : closed AMZN, look to
short again
[12:23 pm] joeytsa : SPY falling
[12:23 pm] trvlntrdr : well you can go for
free to FINVIZ.com
[12:24 pm] trvlntrdr : put in parameters of
stocks you want
[12:24 pm] mikewd2 -: TZA hod[12:24 pm]
trvlntrdr : export the list to Excel file
[12:24 pm] trvlntrdr : copy and paste into
NT
[12:24 pm] trvlntrdr : have to be grouped by
stock exchange though
[12:25 pm] joeytsa : all of the
momentum/darlings taking it on the chin
today
[12:25 pm] trvlntrdr : use the import stock
list function in NT
[12:25 pm] pmarvel : Can I use NT for real
time charts?
[12:26 pm] trvlntrdr : yes if it is linked
to IB
[12:26 pm] trvlntrdr : or pay for
kinetick[12:26 pm] joeytsa : FSLR under
$43
[12:26 pm] trvlntrdr : NT has free webinars
every day
[12:26 pm] joeytsa : i mean 44
[12:27 pm] trvlntrdr : you’ll find NT has a
lot of help available for it
[12:28 pm] trvlntrdr : if you preload all
the stock you want it will be fixed
[12:28 pm] trvlntrdr : and then you know if
someone says buy XXX and you don’t have it
[12:29 pm] trvlntrdr : it didn’t meet your
criteria anyway
[12:29 pm] trvlntrdr : Brent recommends
updating the stock list 1/ week
[12:29 pm] rusty : It’s been frustrating to
see our original investment thesis validated,
yet not profit from it. It certainly
highlights the importance of getting the
timing right and maintaining your conviction
even when the market moves against you. The
core of our short thesis was always Netflix’s
high valuation. In light of the stock’s
collapse, we now think it’s cheap and today
established a small long position. We hope it
gets cheaper so we can add to it.
[12:30 pm] rusty : Tilson re NFLX
[12:30 pm] rusty : fwiw[12:31 pm] sonorant
: again, easier after the fact
[12:31 pm] trvlntrdr : he sound like one of
us
[12:31 pm] joeytsa : they want to add to
positions when price goes down…i only want
to add if the price goes up
[12:31 pm] rusty : except he covered his
short at the NFLX high
[12:32 pm] derns : FSLR long…hopefully
better than last time.
[12:33 pm] mikewd2 -: day or swing,
derns[12:34 pm] derns : well..I was only
going to have a intra-day trade, but I guess
I’m open to thots. What do you think? I
missed the details on the news of the CEO
departure
[12:34 pm] trvlntrdr : you only have 30
min
[12:35 pm] mikewd2 -: i was thinking of swing
a 200 for a few days, but a bit worried about
EU, etc that might have effect
[12:35 pm] trvlntrdr : and there are a lot
of people who only trade the last 10 min
[12:35 pm] mikewd2 -: issue is we don’t just
have to worry about FSLR
[12:35 pm] mikewd2 -: for a long
[12:36 pm] derns : yes…that EU thing
concerns me as well…I will see how it runs
up this last 25 mins..perhaps some exciting
covering will occur.
[12:37 pm] trvlntrdr : I figured at least
the EU would meet and say nothing on Wed
[12:37 pm] trvlntrdr : not even meeting is
bad
[12:38 pm] mikewd2 -: that’s what i think
trvlntrdr, be surprised they have a
solution.
[12:39 pm] sonorant : candels, are you
willing to share what you traded today?
[12:39 pm] trvlntrdr : I think if they had a
general solution they would have said it
[12:39 pm] mikewd2 -: wonder if that small
long position by Whitney was 100 shares,
haha[12:39 pm] mhaus : IIVI
[12:40 pm] trvlntrdr : the best theoretical
ideas out there require restructuring the
EU
[12:40 pm] Mitch : gold is up $52 today
[12:40 pm] derns : Mikewd2..that was my 100
shares…not his
[12:40 pm] trvlntrdr : I don’t see that
happening any time soon
[12:40 pm] candelas : here goes
NFLX,AAPL,ILMN,Hans,ALB, last but not least
FSLR
[12:40 pm] mikewd2 -: gold up, i hope is an
indication of further downside in market
[12:41 pm] candelas : made a couple of
errors in middle of the day but recovered
nicely
[12:42 pm] mikewd2 -: also, lots of
downgrades today from analyst
[12:43 pm] Mitch : the older gentleman really
has gold fever, like buck fever when they see
a deer
[12:44 pm] sonorant : candles, what were you
entries and exits on ALB? the one that
nailed me.
[12:44 pm] lisas : will have to watch that
for sure!
[12:45 pm] mikewd2 -: VIX up 7.5% today, i
like
[12:45 pm] lisas : new lows
[12:46 pm] mikewd2 -: SPY lod[12:47 pm]
candelas : 52.17 and covered 51.52
[12:48 pm] candelas : time was 11:53 est
covered 11:59
[12:50 pm] candelas : had an earlier entry
that did not work short 50.91 @11:42est
covered 51.21@ 11:43est
[12:51 pm] candelas : i lost real small but
made out quite a bit
[12:52 pm] candelas : re:Sonorant[12:52 pm]
sonorant : okay thanks, will bring up the
chart
[12:54 pm] sonorant : kris — how do you
turn on the record feature in NT?
[12:54 pm] sonorant : and is it specific to
individual stocks?
[12:56 pm] go4it : Any thoughts on taking
NFLX home?
[12:58 pm] trvlntrdr : don’t do it
[12:58 pm] derns : go4it…only my thots…I
would pass
[12:59 pm] mikewd2 -: derns, what u doing
with FSLR?
[01:00 pm] trvlntrdr : I like NFLX– just
not as an investment or swing trade!
[01:00 pm] sonorant : candles, how did you
know NOT to go in on the other pair of
green/red candles with similar tops?
actually were two of them between your first
entry and your second.
[01:01 pm] sonorant : I tried to go in when
you did the first time, and then on
successive pairs of green/reds. By the time
the winning one came along I was so cautious
that I had a horrible entry due to
waiting.
[01:01 pm] mhaus : PNRA good earnings
[01:02 pm] candelas : are u speaking of 842
pst[01:02 pm] sonorant : 8:46-ish
and8:50-ish
[01:02 pm] trvlntrdr : sonorant I got messed
up by ALB too– I am not sure why
[01:02 pm] trvlntrdr : but I will study it
later
[01:02 pm] sonorant : yes pst[01:02 pm]
candelas : i closed it out at 843pst
[01:03 pm] candelas : i reentered 853pst
[01:04 pm] sonorant : yes, but I went in
again on the second red candle after you
exited 11:48 your time. How did you know not
to take that?
[01:05 pm] sonorant : also the 11:51 candle
your time…
[01:05 pm] candelas : it was acting like a
strong stock so I want to give it more room
for better entry as well as high probability
trade
[01:05 pm] lisas : amzn earnings oops
[01:05 pm] lisas : not reacting well to say
the least
[01:06 pm] rusty : AMZN = NFLX the
sequel?
[01:06 pm] rusty : [01:06 pm] lisas : nflx
hard to beat
[01:06 pm] rusty : good point lisa[01:07 pm]
rusty : AMZN big miss
[01:07 pm] candelas : the candle 1150 and
1151 was telling me that it was rejecting
lower prices for that particular time
[01:07 pm] rusty : .14 v .24 expected
[01:08 pm] candelas : does that answer ur
question Sonorant
[01:08 pm] lisas : guidance weak also
[01:09 pm] candelas : weak and weaker
[01:09 pm] sonorant : okay, that makes
sense, but it didn’t last…
[01:10 pm] sonorant : though in a sense it
did last — as these shorts go, it did not go
down very much.
[01:10 pm] candelas : right, that’s why I
said it rejected lower prices for that
particular time
[01:10 pm] sonorant : I think the other
thing I need to really look at here is that
it took about 50 minutes to run up.
[01:11 pm] sonorant : not 10 minutes.
[01:11 pm] candelas : I learned to give the
strong stocks more time same for the weak
ones, if they are not parabolic
[01:12 pm] sonorant : and you knew in
advance it was strong because??
[01:12 pm] sonorant : length of time for run
up? amount of run up?
[01:13 pm] candelas : the market was weak
[01:13 pm] sonorant : right, and market was
weak
[01:13 pm] sonorant : so it was not just
going to turn over and say ‘die’ at the first
chance.
[01:14 pm] candelas : u have to take notice
of how stock is performing
[01:14 pm] sonorant : okay — meaning —
against the market?
[01:14 pm] candelas : sometimes it can croak
on a dime with rest of the market other times
it will contimue moving up
[01:15 pm] candelas : and eventually
croak
[01:15 pm] candelas : this is where u have
to clue in to vol[01:16 pm] candelas : and
all of ur other clues
[01:16 pm] sonorant : Well at 8:47 there was
a really nice run up in volume, but the
candle was a doji[01:17 pm] candelas : I see
doji at 845est
[01:18 pm] sonorant : right 8:45. I am off
1 minute from you and I should have
subtracted, not added 😉
[01:18 pm] candelas : doji does not say
long/short it is just a potential warning
that tide could turn
[01:18 pm] candelas : potential is key
word,
[01:18 pm] sonorant : okay, but then the
volume tanked on the next candle…
[01:19 pm] candelas : it did, due to the
potential warning sign of doji[01:19 pm]
sonorant : and it was red –and down
slightly
[01:19 pm] sonorant : really? the doji will
cause the volume to drop
[01:19 pm] sonorant : that many people read
it?
[01:20 pm] candelas : but buyers came in
again
[01:20 pm] candelas : the doji does not
cause it
[01:20 pm] sonorant : well, no, but people
interpreting it could cause the volume to
drop
[01:21 pm] candelas : its just a candle to
signify that buyer/sellers are equal at that
point, warning since buyers had been in
control
[01:22 pm] candelas : so thinking is buyers
have been in control and now all of a sudden
buyers/sellers are =
[01:22 pm] sonorant : and enough people are
aware of that they slow down?
[01:22 pm] sonorant : and think twice about
buying more?
[01:22 pm] candelas : for people who read
candles
[01:23 pm] candelas : even for people who
don’t and read the tape or level2
[01:23 pm] candelas : they see buyers drop
off as well
[01:23 pm] sonorant : so it feeds on
itself
[01:24 pm] sonorant : were you reading the
tape at that point?
[01:24 pm] candelas : it could, that why
just bcuz u see the doji does not mean go
short or go long
[01:24 pm] candelas : u have to apply in the
whole context be it indicators, price &
vol, etc[01:25 pm] sonorant : right — that
is where experience comes in — something I
have in exceedingly short supply… lol[01:25
pm] candelas : yes indeed
[01:25 pm] sonorant : no Mitch — going over
the ALB trade, but yes, I have the AMZN chart
up now!!!
[01:26 pm] candelas : thats why u should
take a picture of as many charts as possible
and study
[01:26 pm] candelas : sorry for taking up so
much time Mitch
[01:26 pm] sonorant : well that is why I am
going back over this one.
[01:26 pm] sonorant : Thanks candelas
[01:27 pm] candelas : anytime, hope it
helped some
[01:27 pm] sonorant : tomorrow
[01:27 pm] sonorant : yes, it did, if I can
last long enough, I will eventually put the
pieces together. Thanks.
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