[06:12 am] Mitch : i think we are setting up
for another really good day in trading today.
we are getting some selling pressure now
from an anticipated no confidence vote in
Greece but yet positive influences from the
jobs report
[06:17 am] Mitch : i sent you guys the link
to the lesson recast and will send another
one from early October lesson later today.
[06:20 am] Mitch : this INHX should give
excellent long scalps, doubt there are short
inventory out there but worth a try. Main
news helping INHX is the safety and antiviral
data. Also articles saying INHX will be like
VRUS as company
[06:21 am] Mitch : check your spam or junk
email folder if you didn’t see the email,
sent it soon after market closed
[06:22 am] Kris : good morning traders
[06:22 am] Kris : Today I’m watching for
longs in HRL, HPT, AWK, AMAG, SKUL and CHK
[06:22 am] Kris : Watching for possible
shorts in HGSI, SLF, WAG, EVEP, SGEN and
OPTR
[06:23 am] Kris : For those of you new to the
room
[06:23 am] Kris : We have a recommended
brokers/platforms document in the documents
library in the lower right hand corner of
this room.
[06:24 am] Brent : good morning
[06:24 am] Kris : It’s the most active in the
room the first 2 hours of the day and then
the volatility typically slows down so there
are less trades posted later in the day.
[06:28 am] Kris : 2 minutes, time to rock!
[06:28 am] Mitch : see this drop in INHX,
going to be a good long at the bottom of this
drop
[06:29 am] Mitch : now a 1 min chart
[06:31 am] Kris : HANS long half
[06:31 am] Kris : watching MTZ for a long
[06:32 am] Kris : WRC long
[06:32 am] Mitch : watching CHK for long
[06:33 am] Mitch : consider selling half of
INHX
[06:36 am] Kris : out half HANS long
[06:37 am] Kris : NFLX short
[06:37 am] Mitch : consider reducing most of
CHK long
[06:37 am] Mitch : if you went short INHX,
could really drop hard today
[06:37 am] Mitch : nice job on INHX guys
[06:38 am] Kris : SKUL long half
[06:39 am] Mitch : AMAG short soon
[06:39 am] Mitch : watching for short in
FSLR
[06:40 am] Kris : getting some volatility
just over 125 support in SPY
[06:40 am] Kris : she’s fighting hard to hold
it
[06:40 am] Mitch : lower low on INHX ,
important for short
[06:40 am] Mitch : monitoring MTZ for short,
no hurry
[06:41 am] Kris : SPY coming down to test
lod[06:41 am] Mitch : watch for new low below
7.70 on INHX for shorts
[06:42 am] Kris : will watch for a CECO
pullback to take long
[06:42 am] Mitch : going to use a rebound in
INHX to fill another short
[06:42 am] Mitch : looking for 28.25 area to
cover CHK short
[06:42 am] Mitch : new low in INHX
[06:42 am] Mitch : watching X for short
[06:43 am] Kris : out another 1/4 HANS
long
[06:43 am] Mitch : another top in CE today
[06:43 am] Mitch : CHK trades over now, look
for something else
[06:44 am] Mitch : new low in INHX, lower
low, hold shorts
[06:44 am] Mitch : top in X
[06:45 am] Mitch : looking for $7 area in
INHX
[06:46 am] Kris : getting ready for a TNA
long over 48.08
[06:46 am] Mitch : top in GMCR
[06:47 am] Kris : XCO long
[06:48 am] Mitch : watching for top in SWKS
to short
[06:49 am] Brent : good eye irvinglee[06:49
am] Brent : Watching PANL for a short
[06:50 am] Mitch : watching for top in
PANL
[06:52 am] Kris : NFLX consolidating off the
lod and weak against the markets
[06:52 am] Kris : out half XCO long
[06:53 am] Kris : looking for lower lows in
NFLX soon
[06:53 am] Kris : X SHORT
[06:53 am] Mitch : downtrend resuming in
INHX
[06:53 am] Mitch : looking for lower low
below 7.58 eventually
[06:53 am] Mitch : missed WIN bottom but
watching for top at some point for short
[06:54 am] Kris : she is coiling up for a
break one way or the other
[06:54 am] Kris : SPY testing lod again
[06:55 am] Kris : out half X short
[06:55 am] Mitch : consider reducing GMCR
short here around 67.75
[06:56 am] Kris : out half NFLX short
[06:56 am] Mitch : consider reducing CE
short
[06:57 am] Kris : out another 1/4 XCO long
[06:58 am] Kris : out another 1/4 NFLX
short
[06:59 am] Kris : watching CHK for a long
soon
[06:59 am] Mitch : new low in indexes
[07:00 am] Kris : out another 1/4 X short
[07:01 am] Mitch : MDVN turning over
[07:03 am] Kris : CHK long half
[07:05 am] Kris : long 1/4 position CECO
[07:05 am] Kris : thinking longer term trade
on CECO
[07:05 am] Kris : will build into it
[07:06 am] Kris : FFIV long
[07:08 am] Mitch : consider covering FSLR
[07:11 am] Mitch : KSU bouncing
[07:13 am] Kris : CREE breaking out
[07:13 am] Mitch : missed VRUS bounce but
monitoring for short at top of this bounce,
no hurry
[07:14 am] Mitch : watching for short in GMCR
again but prefer lower high
[07:15 am] Kris : out half FFIV long
[07:16 am] Kris : out all NFLX short
[07:20 am] Kris : SPY just broke to new
lod[07:22 am] Kris : long second half CHK
[07:23 am] Mitch : $20.25
[07:23 am] Mitch : looking for $68 for GMCR
short
[07:23 am] Mitch : looking for 20. 25 area
for SWKS short
[07:25 am] Mitch : i would not trade GRPN
without a specific plan. you don’t have
history to create reliable indicators. i
think best strategy is to look for first BIG
drop and buy that bottom in increments, small
small small positions
[07:26 am] Kris : trading IPO is like stevie
wonder driving the indy 500
[07:26 am] Mitch : AMRN drop
[07:27 am] Brent : with Ray Charles as his
spotter
[07:27 am] Kris : AMRN nice one
[07:27 am] Kris : did we have news on AMRN
today?
[07:29 am] Mitch : consider selling AMRN 7.45
area
[07:31 am] Mitch : too dangerous to short
AMRN my opinion
[07:33 am] Mitch : don’t try to retire by
trading GRPN today
[07:33 am] Mitch : this is not the stock (or
any stock) to try to make up for 4 years of
losses
[07:33 am] Mitch : warning on GRPN trading;
this is dangerous stuff, going to be big
spreads, slower execution on day 1 of IPO,
turn down the emotions and testosterone. you
can really get hurt on an IPO like this.
Wait wait wait for big drop, if not a big
drop, don’t trade it.
[07:34 am] Mitch : if there is a good setup,
use extra small position size
[07:34 am] Mitch : if there is not a good
setup, don’t trade it
[07:34 am] Mitch : your mantra should be,
wait for first big multi point drop before
even considering any long
[07:37 am] Mitch : this is no TGLO, Teleglobe
that ipod at 7 but opened over $200
[07:38 am] Mitch : GRPN has not opened yet
[07:39 am] Mitch : now, it is very possible,
almost probable that if we see a multi point
drop on GRPN that it doesn’t bounce, has a
lot of negative press, lot of skeptics so the
selling could follow shortly after a wimpy
bounce.
[07:40 am] Mitch : GRPN probably doesn’t have
the VIagra bounce unless something like an $8
point drop from the top in consecutive
drop
[07:40 am] Mitch : INHX near low of day last
2 min
[07:43 am] Kris : SPY trying to break
trendline resistance
[07:43 am] Kris : trying to put in a
bottom
[07:44 am] Mitch : $7.58 probably holds for
most of day on INHX
[07:44 am] Mitch : consider covering XCO
short
[07:45 am] Kris : and we’re off to the
races
[07:45 am] Mitch : 30 second chart candles on
left for GRPN
[07:45 am] Mitch : GRPN open
[07:46 am] Mitch : 1 and 2 min charts on
GRPN
[07:46 am] Mitch : forget 30 second, no
history
[07:47 am] Mitch : GRPN not super strong
[07:48 am] Kris : watching DMND for a long
[07:48 am] Mitch : average of 9 cent
spread
[07:48 am] Mitch : this could be a waste of
your time but good lesson to observe
[07:49 am] Mitch : required to use limit
orders by most brokerage firms
[07:49 am] Mitch : still not strong for
IPO
[07:50 am] Mitch : don’t want bounce off of
$29
[07:50 am] Mitch : this is the beginning of
what i am looking for but want to see new
lows
[07:51 am] Mitch : i don’t think this GRPN
going to be a good trading stock for IPO
[07:51 am] Mitch : we want to see GRPN diving
well below $27
[07:52 am] Mitch : so far, you have what I
call backing and filling
[07:53 am] Mitch : don’t try to trade GRPN
the way its acting so far
[07:53 am] Mitch : I’m not looking at any
other stocks now, full time GRPN, ok this is
better but needs to drop consecutive candles
hard
[07:54 am] Mitch : just wait and watch
[07:54 am] Mitch : just waiting and watching,
we want this type of behavior
[07:55 am] Mitch : it’s all a ratio of risk
vs. reward
[07:55 am] Mitch : shoot, trying to bounce
off 27.50, argh,
[07:55 am] Mitch : still too much risk for me
for the potential profit, I’m passing the
27.50 bounce
[07:59 am] Mitch : but too hard to trade GRPN
with high odds. Something interesting would
be down elevator to $25
[07:59 am] Mitch : losing interest in GRPN,
will monitor
[07:59 am] Mitch : starting to watch other
stocks, TZOO dropped nicely
[08:03 am] Mitch : ok, see that attempted
bounce on GRPN, from 27.50 area to 28.50,
then lower low? tells me the bounces will be
weak and the drops will be much stronger
[08:04 am] Mitch : and to make money on
something like this, a weak IPO, is the drop
has to be much much larger than what we have
seen to get the odds in our favor on the long
side
[08:04 am] Mitch : i think eventually going
to be a tradable bounce but not yet at this
price
[08:06 am] Mitch : a bounce here would be
weak, you need to see the sellers really
flush out in a panic
[08:06 am] Mitch : new low on GRPN,
[08:06 am] Mitch : no surprise
[08:06 am] Mitch : VECO interesting short
possibility,
[08:07 am] Brent : SPY at trendline
resistance
[08:07 am] Mitch : at specialty trading
boutiques
[08:07 am] Mitch : ok there you go, see that
drop
[08:07 am] Mitch : you can get shares of GRPN
to short, probably next week, but might have
to pay a fee of maybe $1 a share to borrow
them
[08:08 am] Mitch : acting the way we want
[08:08 am] Mitch : forget $25, lower
target
[08:08 am] Mitch : see why i say not to touch
that
[08:08 am] Mitch : talking about GRPN here
[08:08 am] Mitch : would like increased vol
and larger down candles in consecutive
fashion
[08:09 am] Mitch : it’s trying to bounce off
26
[08:09 am] Mitch : still too weak
[08:14 am] Mitch : looking for over 27
[08:14 am] Mitch : trying GRPN at 26.38
[08:16 am] Mitch : another min or 2 on GRPN
rise
[08:16 am] Mitch : indicators on IPO not
reliable, only level 2, experience and
hunch
[08:17 am] Mitch : probably wimps out soon on
GRPN bounce
[08:17 am] Mitch : that’s about it folks, all
we can hope for now,
[08:17 am] Mitch : yeah, that’s it for me,
[08:18 am] Mitch : no scars on my wrists
today
[08:18 am] Mitch : now, that hardly happens
anymore because market has so much fear and
really what took the steam out of GRPN is all
the bad press
[08:19 am] Mitch : it’s just another tool in
your bag, more of a specialty tool you use 3
times a year at most
[08:20 am] Mitch : if any of you work with
your hands and build or repair stuff,
especially cars, you can get exotic tools
that are really useful but only a few
times,
[08:20 am] Mitch : no chingo, please, no
don’t trade it, you haven’t told me if you
have live real time charts yet
[08:20 am] Mitch : well, this IPO strategy is
another one
[08:21 am] Mitch : maybe rusty can make GRPN
stock chop suey on CHinese restaurant sign
[08:21 am] Mitch : not sure i understand your
question steele, i would take a break and
come back and look for something else.
[08:21 am] Mitch : what is likely going to
happen now is just chop
[08:22 am] Mitch : chingo, charts are free
through your broker
[08:22 am] Mitch : no chingo, we cannot
support you properly unless you get some
tools. CHIngo, at least go to
http://www.freestockcharts.com and use their
charts, it’s slow though
[08:29 am] Mitch : later rusty, thanks for
the laughs and the memories
[08:29 am] Mitch : watching VLO for top but
so-so idea. do you know what you do with
so-so ideas?
[09:28 am] Mitch : this bottom in GRPN was
caused by the Fast Money guys on CNBC and
some other guests bashing GRPN stock
[09:31 am] Mitch : The Italian bond yields
spiked as people sold the bonds themselves
[09:32 am] Mitch : I think we see more
downside volatility with Italian now coming
into spotlight with their problems, all good
news for traders though
[10:07 am] Kris : could be a good quickie
long over 39.15
[10:07 am] Kris : watch FIO for a breakout to
new highs
[10:13 am] Mitch : monitoring MCP for top
[10:14 am] Mitch : not much vol on MCP
though
[10:26 am] Kris : JNJ blood thinner wins FDA
approval
[10:26 am] Kris : JNJ news
[10:34 am] Kris : JEF breaking out
[10:35 am] Mitch : looking for a short here
DRWI
[10:51 am] Mitch : ABANDONING drwi SHORT
IDEA
[11:11 am] Mitch : did anyone trade JEF?
[12:09 pm] Kris : SPY coming into trendline
support at 125 area
[12:27 pm] Mitch : this JEF has been good
trading stock last 2 days
[12:27 pm] Mitch : wish we had more time
left
[12:30 pm] Kris : if SPY breaks this support
trendline here we could get a little selling
into the close
[01:00 pm] Brent : have a great weekend, see
you on Monday
[01:02 pm] Kris : see you all back here
Monday morning
[01:02 pm] Kris : enjoy your weekend
|
[06:10 am] rusty : I do the low prices ones
long for eoy/Jan effect esp if trading near
cash
[06:10 am] electrader : Another one –
Trading in the Zone – same author
[06:10 am] qwert : trading in the zone by
mike douglas is really good
[06:13 am] pandozzi : i gotta say ever since
i started using your system I’ve never made
so much money trading. Account up 20%
[06:13 am] taco : that’s great to hear
[06:13 am] rusty : GRPN scheduled to open
at 10:40
[06:15 am] rusty : SGEN gap down
[06:17 am] khall : thanks mitch – I watched
the lesson last night – very helpful
[06:18 am] qwert : got it and listened again
thanks mitch[06:18 am] shark : THANK YOU,
Mitch!
[06:19 am] rusty : GSVC gapping up
[06:21 am] storage : Mitch was that send
email , the link to lesson?
[06:30 am] rusty : INHX 7’s
[06:32 am] scalpman : Out 1/2 INHX
[06:35 am] scalpman : All out INHX L thanks
mitch…
[06:35 am] shark : RUSTY – what’s that
possible sympathy GRPN stock you found?
[06:36 am] rusty : GMCR hod[06:36 am] rusty
: GSVC shark – low floater
[06:36 am] electrader : l INHX 8.10 s 1/2 –
8.24 1/4 – 8.40 last 1/4 – 8.70
[06:38 am] anthonyb : CBS
[06:38 am] rusty : FSLR hod[06:39 am] jsn13
: MTZ is fantastic…thanks….
[06:39 am] ben4givn : win
[06:39 am] trvlntrdr : eL moving up
sharply
[06:41 am] chinhngo : please call when short
fslr[06:41 am] rusty : WYNN hod[06:44 am]
chinhngo : x is short now or just wait?
[06:45 am] anthonyb : chinhngo wait for it
to stop going up! X
[06:46 am] anthonyb : SBUX
[06:46 am] shawnt4 : is X still a good
short
[06:47 am] Kris : X is looking very good
[06:47 am] Kris : just be patient
[06:47 am] observer : TEX HOD
[06:47 am] Kris : I’ll post when I enter
[06:47 am] Kris : we have increasing volume
and accelerating price
[06:48 am] irvinglee : PANL ripping
[06:49 am] skydiver : EL has gone up nicely
today as well
[06:49 am] mikewd2 -: X
[06:50 am] mikewd2 -: another head fake on
X
[06:51 am] mikewd2 -: nice call on XCO
[06:52 am] mhaus : HIG rumor
[06:56 am] skydiver : out 1/2 PANL
[06:57 am] skydiver : all out of PANL
[06:57 am] irvinglee : VRUS
[06:57 am] rusty : MDVN radar
[06:59 am] mikewd2 -: Groupon IPO to open
sometime today, be careful
[06:59 am] mikewd2 -: SPY lod[07:00 am]
anthonyb : out 1/2 X +.27
[07:00 am] rusty : JAZZ radar
[07:00 am] anthonyb : all out FSLR
[07:01 am] Kris : GRPN should open at 10:40am
EST
[07:01 am] candelas : watch for BIDU bottom,
if spy can bottom
[07:02 am] Kris : nice one candelas
[07:02 am] Kris : BIDU juicy
[07:03 am] rusty : AMRN patent rejection
[07:03 am] rusty : radar
[07:03 am] electrader : s X – 27.21 c 1/2-
27.10 2nd half -26.96
[07:03 am] anthonyb : out 1/2 sbux +.43
[07:04 am] rusty : JAZZ ALERT
[07:04 am] anthonyb : stopped on PANL
[07:05 am] joemas99 : why 1 min chart on x
and 2 on inhx?
[07:07 am] mikewd2 -: out X 26.88, thanks
Mitch
[07:08 am] rusty : JAZZ bounce
[07:10 am] dbzdbz : s mdvn 42
[07:10 am] anthonyb : out MDVN even
[07:10 am] anthonyb : out 1/2 JAZZ
[07:11 am] mikewd2 -: MDVN hod[07:11 am]
skydiver : Nice one Rusty – JAZZ
[07:13 am] anthonyb : stopped on remainder
of SBUX +.02
[07:13 am] rusty : CECO hod[07:14 am]
anthonyb : out JAZZ
[07:16 am] anthonyb : thought about shorting
JAZZ too slow on the trigger
[07:17 am] rusty : CHK lod[07:17 am] rusty
: radar
[07:17 am] trvlntrdr : Kris do you think
Bidu will make it much past VWAP?
[07:18 am] Kris : check your resistance
levels
[07:18 am] Kris : 142.00
[07:18 am] trvlntrdr : yes I thought that
was major recent resistance, near vwap[07:19
am] trvlntrdr : but it didn’t seem like much
of a bounce
[07:19 am] rusty : MDVN nhod[07:19 am]
trvlntrdr : that is where I have my target,
141.95
[07:19 am] rusty : MDVN 89 rsi[07:20 am]
anthonyb : out 1/2 CBS +.24
[07:21 am] mikewd2 -: MDVN hod[07:22 am]
rusty : GRPN L2 lining up
[07:23 am] storage : is anyone short WYNN
[07:24 am] Mitch : thanks rusty
[07:24 am] anthonyb : MDVN starting to get
that “look”
[07:25 am] shark : what is L2, rusty?
[07:25 am] Kris : level 2
[07:26 am] rusty : someone bidding 1600 for
GRPN rofl[07:26 am] anthonyb : I’m done for
the day, family coming over for the weekend.
Wife says, “clean your office” lol[07:27 am]
rusty : AMRN alert
[07:27 am] shark : AMRN -potential patent
delay
[07:28 am] rusty : AMRN alert
[07:28 am] Kris : I don’t see it
[07:28 am] Kris : did you get that news rusty
on the AMRN patent?
[07:28 am] shark : posted 11/2 news
[07:28 am] rusty : yes above
[07:28 am] Kris : tradethenews?
[07:28 am] shark : that news 2 days old
[07:29 am] Kris : speculation?
[07:29 am] rusty :
http://www.biorunup.net/Attachments/AMRN_pate
nt.pdf
[07:29 am] rusty : patent rejection
[07:29 am] Kris : that is old news
[07:29 am] Kris : gotcha
[07:30 am] Kris : thanks
[07:30 am] anthonyb : 7 trades today. 1 loss
1 even 5 wins. I can’t repeat enough how the
webinar has helped me. See you all monday.
thanks Kris, Brent , and Mitch.
[07:30 am] rusty : sorry lil busy here
[07:31 am] Brent : good job anthonyb, have a
great weekend
[07:32 am] Mitch : nice job anthony,
[07:32 am] derns : Mitch…MDVN has run up
so much over the past 2 days…is it too
risky to short?
[07:33 am] monster : vrtx[07:33 am] steele
: CHK long seems not working
[07:34 am] rusty : CHK down move getting
extended
[07:34 am] mikewd2 -: CHK at support about
now
[07:35 am] Kris : I’m still in CHK long
[07:35 am] Kris : gonna stay patient
[07:35 am] steele : I stopped out.
reenter
[07:36 am] skydiver : GRPN – opens 5 minutes
– will watch and learn – thnx Mitch for your
wisdom on this
[07:37 am] mikewd2 -: MDVN
[07:38 am] apple : thx MK for your help
[07:38 am] shark : WOW!
[07:38 am] shark : What love to see the
chart action replayed on that
[07:38 am] steele : Nothing in GRPN chart
[07:38 am] Mitch : rusty, you remember
TEleglobe, TGLO
[07:38 am] jsn13 : shorted MDVN at 44.2 and
covered at 42.76….Thanks for the
call….
[07:38 am] Kris : it hasn’t opened yet
steele, about 2 minutes
[07:39 am] steele : I see
[07:39 am] Kris : GRPN moved to 10:45
[07:39 am] qwert : inhx near lod[07:39 am]
mh : nice jsn13 almost did the same but got
a phone call darn
[07:39 am] rusty : TGLO old friend,
lol[07:39 am] storage : out !/4 s INHX
7.66
[07:40 am] Kris : AMRN getting defended
[07:40 am] rusty : AMRN defended by analyst
LEER
[07:40 am] mikewd2 -: Obama G20 talk
[07:40 am] Kris : lol[07:40 am] Kris : JP
Morgan defending AMRN
[07:40 am] Mitch : nobody defending Obama
[07:41 am] Kris : were they just on a
conference call
[07:41 am] victor51 : Mitch, Tx for INHX
[07:41 am] storage : Mitch thanks INHX
[07:41 am] shark : maybe they should
postpone GRPN -don’t want the Obama effect
[07:41 am] steele : CHK stopped out again
[07:42 am] rusty : CHK getting interesting
here based on daily chart
[07:44 am] qwert : watching veco[07:44 am]
shark : rusty- CHK I see double top, h&s
pattern, further breakdown for possible
retest to low -all moving averages upside
down
[07:45 am] bopp : Please help me out here on
a Friday and I promise to do better next
week. I did what I said I didn’t do and took
AIG and IPGP home last night. Is there hope
that they will rebound today or should I take
my losses and regroup?
[07:46 am] khall : wow
[07:46 am] khall : on the grpn – crazy
[07:46 am] shark : my $21.01 limit order
didn’t get filled
[07:46 am] truck : out half,,,ETN[07:47 am]
mikewd2 -: touched 30
[07:47 am] rusty : GSVC lod – reacting as
expected
[07:47 am] mhaus : Bopp, what are your entry
prices?
[07:47 am] mikewd2 -: spread not huge
[07:47 am] shark : looks like peak GRPN
[07:48 am] khall : CHK finally trying to go
up!
[07:48 am] mikewd2 -: CHK
[07:48 am] truck : out 1/4 ETN
[07:48 am] bopp : AIG 24.72/IPGP 52.69
[07:48 am] jsn13 : Long CHK at 27.17
[07:48 am] neuronx : That company is just
opened GRPN?
[07:49 am] mhaus : AIG has resistance at
23.6
[07:49 am] mikewd2 -: added to CHK 27.10
long
[07:49 am] mhaus : if it breaks that the
next would be 23.86
[07:49 am] steele : I dare not touch CHK
again
[07:51 am] skydiver : Wow – below $27? Fun
to watch
[07:51 am] shark : You prefer a “V” pattern,
Mitch?
[07:52 am] mikewd2 -: yeah, a bit boring on
GRPN
[07:52 am] apple : just observing
[07:52 am] rusty :
http://www.businessinsider.com/is-groupon-sto
ck-overvalued-2011
[07:53 am] rusty : Blodget re GRPN
[07:53 am] shark : Volume 12M shares GRPN
[07:53 am] Kris : DMND starting to look
interesting
[07:55 am] derns : GRPN…I just don’t
believe in the fundamental business model
there…I’m in the camp that it will see
single digit days in 1 year
[07:55 am] irvinglee : TZOO
[07:55 am] hobart : DMND – Is there a little
gap around 46.70?
[07:56 am] shark : DMND – accounting
irregularities -Pringles purchase from
P&G in doubt
[07:59 am] rusty : RIMM back near hod[08:00
am] rusty : AMRN small bounce off lod[08:00
am] qwert : veco running hard
[08:00 am] shark : NFLX roundtrip from
yesterday’s action. Could put a mirror on
that chart.
[08:01 am] rusty : FSLR 52’s
[08:01 am] richard : watching VECO
[08:02 am] rusty :
http://www.nasdaq.com/symbol/fslr/short-inter
est
[08:02 am] rusty : FSLR high short
interest
[08:03 am] apple : there goes GRPN
[08:04 am] candelas : nice one Qwert[08:04
am] richard : IDCC
[08:04 am] shark : I HOPE IT CLOSES BELOW
$20
[08:04 am] skydiver : On new IPO’s one can’t
short the stock – is that correct or not?
[08:04 am] shark : Hard to get shares
skydiver
[08:05 am] Brent : not for at least 30days I
think skydiver
[08:05 am] skydiver : Thanks Brent –
[08:05 am] Mitch : too low vol on IDCC
richard, thanks though
[08:06 am] richard : TY…I see that now
[08:06 am] shark : dropping below the OPEN
price -GRPN SWEET!
[08:06 am] shark : die, GRPN, die!
[08:07 am] rusty : CHK bounce
[08:07 am] candelas : still in downtrend
[08:08 am] skydiver : GPRN still dropping
[08:08 am] shark : die, GRPN, die!!!
[08:08 am] shark : drop below OPEN
[08:08 am] shark : go, go, go!
[08:08 am] skydiver : How low will GPRN go I
wonder?
[08:09 am] khall : kris, what is your
email?
[08:09 am] khall : i have a question that is
not urgent and can be answered after close
[08:10 am] Kris :
[email protected]
[08:10 am] shark : Rusty – check out the
other sympathy trade TZOO
[08:11 am] mikewd2 -: VECO new hod[08:13 am]
shark : building a possible bottom GRPN
[08:14 am] jsn13 : Kris what is your average
price for CHK and what price target are u
looking for?
[08:14 am] rusty : JAZZ re alert
[08:14 am] Kris : my average is .56
[08:14 am] khall : go Mitch, go
[08:14 am] mikewd2 -: good luck Mitch
[08:15 am] Kris : I’m looking for .95
[08:15 am] ronfrac : inhx moving up
[08:16 am] shark : re-test resistance at
opening price
[08:17 am] mikewd2 -: nice play mitch[08:17
am] shark : TOTALLY AWESOME, Mitch!
[08:17 am] storage : wow you’re the King
[08:17 am] shark : you ‘da first in, first
out!
[08:18 am] mikewd2 -: just watched
[08:18 am] rusty : nice work Mitch
[08:18 am] candelas : greaaat call Mitch
[08:18 am] shark : Back to your regularly
scheduled shark mantra – die, GRPN, die!
[08:19 am] chinhngo : so set grpn at 26.48
for long is ok?
[08:20 am] rusty : GSVC slammed after
Groupon IPO.
[08:20 am] khall : CREE Short setup?
[08:20 am] steele : Mitch, if that IPO is
too good and rocketing can we get that
chance?
[08:21 am] shark : SPY / DIA retesting near
lod[08:21 am] candelas : too late for cree
short
[08:21 am] khall : yep
[08:22 am] Kris : if anyone is long DMND,
this is a good point to take some or most off
and move up your stop
[08:23 am] kittel1 : what is the list or the
best day trade stoke?
[08:23 am] chinhngo : I JUST SUBCRIBER
STOCKSCHART.COM LAST NIGHT MAY BE NEXT MONDAY
WILL BE OK
[08:23 am] mikewd2 -: Kris, you shooting for
27.95 for your CHK?
[08:24 am] Brent : who is your broker
chingo[08:24 am] Kris : yes mike
[08:24 am] mikewd2 -: ok, my avg is 27.32
[08:24 am] candelas : VECO hod[08:25 am]
scalpman : VECO ….still watching for
short
[08:26 am] chinhngo : BUY COVER EL AT
116.65
[08:27 am] trvlntrdr : I was wrong about EL
yest pm, I thought it would stay strong. But
I sure didn’t buy any over night
[08:27 am] skydiver : VLO – take over
chatter
[08:28 am] scalpman : VECO S quick
profit…got the drop but still strong…
[08:29 am] rusty : thanks for a fun
morning… have a good afternoon everyone
[08:29 am] Kris : have a good one rusty
[08:29 am] dano : monitor
[08:29 am] electrader : Don’t trade them
[08:30 am] skydiver : Look for another stock
and skip this VLO —
[08:30 am] trvlntrdr : go slow on so
so[08:30 am] shark : JVA alert!
[08:31 am] Mitch : JVA no good shark
[08:32 am] mhaus : AIXG
[08:33 am] mikewd2 -: 3min fade on AIXG?
[08:33 am] truck : watching ,,,, ACOR
[08:35 am] Mitch : mikewd you still long
GRPN?
[08:35 am] Mitch : looks turning over to
me
[08:35 am] mikewd2 -: i didn’t trade GRPN
[08:35 am] mhaus : mike, still showing
strong
[08:35 am] mhaus : waiting for it to turn
over
[08:35 am] pow : BAX
[08:36 am] mikewd2 -: only active trade is
CHK currently
[08:37 am] taco : thx for dmnd[08:37 am]
mikewd2 -: mhaus, no shares to short for me
on AIXG anyway
[08:37 am] khall : anybody else in this VECO
short?
[08:38 am] mhaus : had a good long on
SINA
[08:38 am] khall : congrats!
[08:39 am] talaakil : would u give an
opinion on amzn pls[08:39 am] mhaus : entry
80.03 – out 82.00
[08:40 am] mhaus : out early, buy happy!
[08:41 am] taco : thx for aixg too!
[08:41 am] Kris : I don’t see a trade in AMZN
at this price
[08:41 am] Kris : maybe a short under
214.20
[08:41 am] Kris : but not really
interested
[08:42 am] hobart : Kris – thx for the exit
call on DMND L-46.90 out 48.10
[08:43 am] taco : nice hobart[08:43 am] pow
: VFC
[08:43 am] Kris : great job hobart, nice
entry price
[08:49 am] mikewd2 -: Kris, can you explain
the 27.95 target on CHK
[08:49 am] pow : out of BAX
[08:50 am] mikewd2 -: Kris, never mind I see
it
[08:52 am] mh : mitch do you see a short
developing in INHX
[08:52 am] steele : Any idea? What are you
watching now?
[08:52 am] mhaus : VECO
[08:52 am] khall : I’m in VECO short
[08:53 am] steele : I chickened out VECO 5
min ago
[08:53 am] mhaus : watching UPL
[08:54 am] pow : watching for bottom i
cedc[08:54 am] khall : steele, I adjusted
the stop at that point
[08:54 am] steele : UPL interesting
[08:55 am] electrader : Possible resistance
on UPL 35.07 on daily
[08:56 am] mikewd2 -: VECO L 29.34
[08:57 am] mhaus : FFIV
[08:59 am] scalpman : In and out on VECO
L…bounce looks weak
[08:59 am] pow : ABMD
[09:00 am] scalpman : But I hope it runs
up…
[09:00 am] steele : UPL short 34.83
[09:00 am] scalpman : About quitting time
for me. 11:00 CST.
[09:01 am] taco : INHX running up
[09:02 am] steele : Oh no UPL
[09:02 am] pow : great taco….watch too
[09:04 am] derns : IACI…looking for a 3
min fade short
[09:05 am] Kris : not a good setup
derns[09:05 am] derns : Kris…not enough
volume? Thx
[09:05 am] irvinglee : what u think about
UPL short?
[09:06 am] dano : $ move…not @ 3%
[09:06 am] monster : grpn again mitch[09:08
am] taco : INHX for 1%
[09:08 am] badboy : Kris/Mitch I sent u
guys an email did you get a chance to read
it??
[09:09 am] mikewd2 -: stopped on VECO
[09:11 am] electrader : maybe long on VECO
at 28.40 mikewd2 ??
[09:11 am] mikewd2 -: yeah, looking to
reenter maybe
[09:12 am] gumroadboy : last post on trading
room is 08:29 am, is this correct?
[09:12 am] mikewd2 -: always get burned on
the first bounce
[09:12 am] mikewd2 -: yes
[09:12 am] electrader : easy to do in this
market
[09:12 am] mikewd2 -: they get quite after
first couple hours, minimal good trades after
2 hours
[09:12 am] electrader : looks like possible
support at 28.40 on daily
[09:14 am] scalpman : UPL S
[09:15 am] bopp : INHX is having so much fun
and I’m out and afraid to get back in.
[09:15 am] scalpman : Out 1/2 UPL S
[09:16 am] steele : Mitch, stoch setting:
period 10, %K 8, %D 7, correct?
[09:16 am] scalpman : Target 35.10
[09:16 am] scalpman : …UPL S
[09:16 am] mhaus : OIS
[09:17 am] mikewd2 -: pretty low vol on
OIS
[09:17 am] Brent : that’s correct Steele
[09:17 am] scalpman : OUt another 3/10
[09:17 am] scalpman : .UPL
[09:18 am] scalpman : Thanks mhaus for
UPL…good one…
[09:20 am] scalpman : All out UPL
[09:21 am] scalpman : Great day
8/10….Thanks for excellent calls from all
today.
[09:21 am] gumroadboy : last post in trading
room is 08:29 am, is this correct ?
[09:22 am] mikewd2 -: yep
[09:22 am] candelas : time period 12:05 to
12:06est is another nice chart pattern
[09:23 am] candelas : for GRPN
[09:25 am] electrader : VECO looking better
mikewd2
[09:25 am] mikewd2 -: watching it
[09:27 am] mikewd2 -: VECO L 28.85
[09:29 am] candelas : that’s the nice area I
was speaking of
[09:33 am] candelas : we nub volatility
[09:33 am] mikewd2 -: out VECO 29.08
[09:33 am] derns : Italy could be the big
kahuna
[09:33 am] mikewd2 -: not liking it long
[09:33 am] candelas : then after itally,
spain, the portugal[09:34 am] taco : i see
the value of 2 min chart Mitch for INHX
[09:34 am] mikewd2 -: then back to US
[09:34 am] candelas : making me dizzy
[09:35 am] mikewd2 -: CHK looking weak
again
[09:37 am] mikewd2 -: JAZZ
[09:38 am] mikewd2 -: FIO
[09:39 am] irvinglee : FIO cnbc spike
[09:40 am] mikewd2 -: breakout? all time
high
[09:41 am] mikewd2 -: no shares to short at
etrade[09:43 am] mhaus : watching FSLR
[09:45 am] chinhngo : fio short T37.87 IS
OK?
[09:45 am] mikewd2 -: I’d be careful shorting
it
[09:46 am] chinhngo : NO SHARE TO SHORT
ANYWAY BUT THANK MIKEWD2
[09:46 am] mikewd2 -: did look like a good
3min fade though short
[09:46 am] mikewd2 -: set up that is
[09:46 am] mikewd2 -: who u trade with
chinhngo[09:47 am] chinhngo : CHARLES SCHWAB
AND OPTION EXPRESS
[09:48 am] mikewd2 -: Brent: FIO setting up
for 3min fade short?
[09:49 am] mikewd2 -: i couldn’t get
shares
[09:49 am] chinhngo : SELL CALL NOV OF FIO
IS OK?
[09:50 am] mikewd2 -: probably not a good
idea for day trade options, better on
swings.
[09:50 am] mikewd2 -: but check with the TSA
guys for their opinion.
[09:51 am] Brent : don’t like FIO for 3min
fade Mike cause it’s breaking out on daily
[09:51 am] mikewd2 -: ok, good point and
yearly high
[09:54 am] jewels0 : MCP supposed to get the
pump on CNBC this afternoon
[09:55 am] mhaus : VRSK breakout on daily
[09:57 am] candelas : if ur were not looking
to put high odds in ur favor, and u are quick
and nimble, u could have shorted FIO, but
like Brent said its breaking out on daily and
u would be going against overall strong
trend
[09:57 am] chinhngo : LONG OR SHORT INHX
?
[10:00 am] candelas : what time frame do u
trade off of Chinhngo?
[10:02 am] kittel1 : Hi, where can I get a
list with the best stocks for day trading
with most jumps?
[10:02 am] chinhngo : DAY TRADING
[10:03 am] chinhngo : TRY TO GET 200.00
DOLLAR FOR EACH TRADE
[10:03 am] kittel1 : yes please
[10:03 am] kittel1 : but what symbols?
[10:03 am] kittel1 : what stocks?
[10:03 am] candelas :
1min,3min,5min,15min,etc
[10:03 am] candelas : try
http://www.finviz.com
[10:03 am] steele : Kittel1, Mitch taught us
how to find beta for stocks. But I don’t
remember it is hard for beginners.
[10:04 am] chinhngo : I JUST FOLLOW ADVICE
FROM ANALYSIST AND YOUR GUYS
[10:05 am] kittel1 : thanks
[10:05 am] kittel1 : is there any advice to
do now?
[10:06 am] shawnt4 : would Fio fusion be a
short
[10:07 am] candelas : and u want to search
under beta
[10:07 am] shawnt4 : looks like it did a
double top
[10:07 am] mikewd2 -: i don’t think so
shawn[10:07 am] mikewd2 -: are you long on
FIO Kris
[10:08 am] candelas : like i mentioned
earlier as well as Brent, FIO is not a high
odds short bcuz u would be going against an
overall strong trend on daily
[10:09 am] candelas : it’s not to say u
can’t make money on short side, just that we
like the extremely high odds plays for
strategies
[10:10 am] Kris : no I am not long on FIO
[10:11 am] Kris : I will take a long on the
breakout
[10:11 am] dmitry : What’s up with the
spread on FIO?
[10:15 am] trvlntrdr : panl moving up
[10:15 am] trvlntrdr : resistance at
50.88
[10:22 am] mhaus : watching HANS
[10:40 am] Kris : and it failed at previous
day high consolidation area
[10:40 am] rusty : Missing MF Millions Tun
Up In An Account At JP Morgan
[10:41 am] mikewd2 -: ERTS S 26.05
[10:42 am] rusty :
http://www.businessinsider.com/found-the-miss
ing-mf-millions-in-an-account-at-jp-morgan-20
11-11
[10:43 am] candelas : Panl hod[10:43 am]
mikewd2 -: go MCP
[10:44 am] candelas : cnbc can wake up a
stock or put it to sleep
[10:45 am] mikewd2 -: out half ERTS 25.75
[10:45 am] candelas : spy breakout from
consolidation
[10:46 am] mikewd2 -: RIG hod[10:47 am]
mikewd2 -: WFT hod[10:48 am] mikewd2 -: out
half MCP 40.45
[10:49 am] mikewd2 -: moved stops for erts,
mcp to b/e[10:50 am] Brent : nice alert on
PANL Candelas
[10:51 am] mikewd2 -: 1/4 more MCP 40.65
[10:52 am] mikewd2 -: moving stops up
[10:53 am] mikewd2 -: changing to trailing
stops on MCP
[10:53 am] rusty : NFLX radar
[10:54 am] mikewd2 -: all out, Wow thank you
CNBC for ERTS and MCP
[10:56 am] mikewd2 -: Kris: you keeping your
CHK over weekend
[10:56 am] Kris : I’m out CHK mike
[10:56 am] rusty : VRUS downgraded
[10:56 am] mikewd2 -: i know i shouldn’t make
a day trade into swing, but considering on
CHK
[10:56 am] trvlntrdr : I have the grpn chart
up and every time I look at it gives me a
start because for a second, I think I have a
position in it.
[10:56 am] Kris : bad idea
[10:57 am] mikewd2 -: ok, ty[10:57 am] Kris :
if it gaps under 26.50 you’re gonna take a
real beating
[10:57 am] mikewd2 -: thought i would sneak
that one out there
[10:57 am] Kris : and with the way things are
going
[10:57 am] Kris : anything can happen over
the weekend.
[10:58 am] Kris : she’s acting like she’s
gonna give up the lod soon
[10:58 am] steele : CHK stopped out twice
and I dare not touch again
[10:58 am] Kris : you had a good entry, you
didn’t take any off on that run up into
.75?
[10:58 am] mikewd2 -: ok, moved my stop a bit
lower than lod, and will sell before
close.
[10:59 am] mikewd2 -: no, i should have
[10:59 am] Kris : yeah, once you get ahead on
something like that take some profit, at the
minimum move your stop to breakeven.
[10:59 am] mikewd2 -: yeah, i know
better!!!!
[10:59 am] Kris : if it breaks down you can
always re-enter later in a better spot if it
presents itself
[11:00 am] mikewd2 -: those are the mistakes
that usually kill me, especially then holding
over.
[11:00 am] mikewd2 -: thanks Kris for
advice
[11:03 am] rusty : Greek PM to speak
shortly
[11:03 am] mhaus : HANS going up again
[11:04 am] lightning : The Greek PM will
unveil his 9-9-9 plan. It borrows $9
billion, spends $9 billion and asks for $9
billion more later.
[11:05 am] rusty : rofl lightning
[11:05 am] rusty : that’s funny
[11:05 am] mhaus : IART
[11:07 am] lightning : maybe the Greek PM
will say that he found $9 billion in an
account at JPMorgan too.
[11:08 am] trvlntrdr : I hope greece didn’t
have any money in MF global
[11:09 am] rusty : and vica versa
[11:11 am] mhaus : LNKD
[11:11 am] richard : AMBD
[11:11 am] trvlntrdr : I was in at 11.90 and
took profit at 12.15
[11:11 am] joemas99 : in jef at 12.16
[11:12 am] steele : I am watching JEF for
short
[11:12 am] Mitch : is that long i presume
joe?
[11:12 am] trvlntrdr : then reentered at
12:30
[11:12 am] joemas99 : long
[11:12 am] Mitch : k
[11:12 am] Mitch : from this latest dip in
JEF?
[11:12 am] joemas99 : stop below last 3 min
bar
[11:12 am] trvlntrdr : going to sell at
12:50 and take the day off
[11:12 am] joemas99 : or out now at 12.42
[11:13 am] trvlntrdr : I think it has a bit
more upside but I am too tired for it
[11:13 am] joemas99 : out w/ slippage
[11:14 am] joemas99 : got about 11-12
cts[11:14 am] rusty : GOP presidential
hopeful Mitt Romney details plan to transform
Medicare, cut federal spending by $500
billion
[11:15 am] shark : FIO dropping
[11:18 am] victor51 : No on Jeff but second
short on INHX
[11:19 am] rusty : FFIV new highs
[11:20 am] trvlntrdr : Jef still on an
uptrend for those interested
[11:21 am] trvlntrdr : I guess it is on the
screen but it is hard for me to see it on my
little laptop
[11:22 am] shark : looks like uptrend on
lower volume trvlntrdr[11:22 am] trvlntrdr :
well it might be good for a small long.
[11:23 am] trvlntrdr : I am out of here as
soon as it hits 12.49
[11:26 am] trvlntrdr : well I am probably
wrong. I think it is over now.
[11:26 am] shark : looks done
[11:27 am] qwert : see ya everybody have a
great weekend today was best day ever for
me
[11:27 am] shark : doing more of a
consolidation
[11:27 am] mhaus : ULTA
[11:27 am] trvlntrdr : your right shark,
5cent loss for me
[11:27 am] mikewd2 -: JPM doesn’t have
missing money
[11:28 am] shark : yeah, from some Real
Estate
[11:28 am] mikewd2 -: MF – missing funds
[11:29 am] trvlntrdr : everyone have a great
weekend. looks like winter is headed your
way– we had another snow storm here in the
sierras
[11:33 am] Kris : have a great weekend
qwert[11:33 am] Kris : see you monday[11:35
am] shark : profit taking coming in
[11:37 am] steele : Shark what is profit
taking? Sell off?
[11:38 am] shark : Market indices pulling
back off highs
[11:38 am] shark : SPY – DIA – RUT – NYSE
[11:38 am] steele : SPY dropping
[11:39 am] steele : Is it always happen on
Fridays?
[11:40 am] shark : a lot of people want to
take some profits into another European
uncertainty weekend
[11:40 am] taco : think it depends on
sentiment
[11:41 am] Kris : it also depends on if there
is profit to be taking
[11:41 am] victor51 : M/K/Brent Fidelity
does not have good short inventory, i do you
think TradeStation will ave nice inventory?
Also, what tools do i need to participate
more between 6:25 and 6:35/ Any ideas or
techniques. Thanks.
[11:42 am] rusty : Fidelity short inventory
not so good
[11:42 am] rusty : Fidelity has some good
charting though
[11:42 am] Kris : yes victor, tradestation
has better short inventory
[11:45 am] rusty : ELON radar
[11:46 am] jsn13 : Hi guys how much margin
will IB provide? Is it 1:3?
[11:47 am] storage : trvlntrdr are still in
Jef maybe 12.49 coming
[11:47 am] victor51 : Kris and Rusty,
Thanks. I have not used TS that much but
thought TS will have better charting than
fIDELITY[11:47 am] Brent : 4 to 1 Jsn[11:47
am] shark : he closed it out, storage
[11:47 am] steele : Brent, can I put ATM
strategy after opening a position
[11:47 am] richard : MDRX
[11:47 am] jsn13 : Thanks…
[11:48 am] Brent : no, as far as I know, you
have to manually put in your stop and targets
at that point steele[11:48 am] steele :
Tnx[11:56 am] steele : Brent, can you group
all floating windows in NT workspace as one
single unit? Coz after I switch to other
programs I have to call up one by one.
[11:56 am] rusty : Worst Analyst of The Day
Award….
[11:56 am] rusty : Inhibitex price target
raised to $25 from $6 at JMP Securities
[11:56 am] rusty : INHX
[11:56 am] zentrader : hey y’all. Anything
interesting going on today?
[11:58 am] mhaus : Steele, no, you cannot
group the windows
[11:58 am] mikewd2 -: have a good weekend
all, closed out CHK with 0.27 lost
[11:58 am] mhaus : but here is a way to do
what you want
[11:59 am] steele : So How you organize
them
[11:59 am] mhaus : save the current setup
under a workspace
[11:59 am] mhaus : then open a blank
workspace
[12:00 pm] steele : Then?
[12:00 pm] mhaus : the blank one will be
named untitled
[12:00 pm] mhaus : when you switch between
the 2 workspaces, it will open all the
windows of that workspace
[12:00 pm] mhaus : or bring them in the
front
[12:02 pm] steele : If I switch to internet
browser and then want to go back to my NT
workspace does your trick work?
[12:03 pm] mhaus : should work
[12:03 pm] mhaus : also, if you just
minimize the browser, you will see your NT
windows
[12:03 pm] steele : thnx will try
[12:05 pm] rusty : JEF hod[12:07 pm]
candelas : out 3/4 of Jef @12.66 stop last
1/4 b/e 12.81
[12:09 pm] candelas : moving stop to
12.47
[12:10 pm] candelas : out all Jef .47
[12:11 pm] storage : Nice candelas
[12:11 pm] lightning : nicely done
candelas
[12:12 pm] zentrader : watching VECO
[12:14 pm] rusty : TLT near hod[12:17 pm]
mhaus : Mitch, any swing ideas for this
weekend?
[12:18 pm] zentrader : anyone trade the
bounce in VECO?
[12:18 pm] candelas : we left it for u
Zen
[12:21 pm] candelas : if we get accelerated
vol/selling in DMND will look to take a
trade
[12:21 pm] candelas : never mind
[12:21 pm] candelas : late in day
[12:25 pm] rusty : LPSN radar
[12:25 pm] candelas : it’s been nice short
on daily
[12:26 pm] taco : here it is candelas
[12:26 pm] candelas : drip drip drip on
daily
[12:26 pm] candelas : i will pass
[12:28 pm] candelas : yeah Taco, i passed
cuz of time of day
[12:34 pm] mhaus : DTG
[12:36 pm] otboakye : newbie
[12:36 pm] mhaus : welcome to the room
[12:36 pm] candelas : welcome to room
OTBOAKYE
[12:36 pm] Kris : welcome to this room of
misfits otboakye[12:37 pm] shark : WELCOME,
OTBOAKYE!
[12:38 pm] shark : does otboakye stand for
anything?
[12:38 pm] Mitch : the action really is good
first 90 minutes of each day and then we go
into cruise control and collectively scan for
a bunch of ideas
[12:38 pm] Kris : I haven’t seen a bullshort
in months, I forgot what they even look
like.
[12:39 pm] Kris : I think MF Global use to be
Prestige Worldwide
[12:41 pm] Mitch : hey otboakye, there is
also a little abuse on Friday afternoon too,
we are sort of brain dead, the chief abuser
is Kris but he is actually quite funny
[12:43 pm] mhaus : BTW otboatye, download
the documents from the documents tab on the
bottom right.
[12:43 pm] hobart : MK, Kris and Brent – Any
thoughts on taking DMND as a Long in the next
few days?
[12:43 pm] hobart : Swing trade
[12:43 pm] taco : have a great wknd all, i’m
out till tuesday i think.
[12:43 pm] Mitch : interesting idea hobart
but no signal to buy yet, everything pointing
down, need to have a trigger
[12:43 pm] Mitch : later taco
[12:44 pm] truck : look at DTG
[12:44 pm] Brent : have a good weekend
taco
[12:44 pm] Mitch : for a swing trade
truck?
[12:44 pm] Kris : I would like to see a
couple more big days down in DMND and then a
bottom for a reversal long
[12:44 pm] khall : I’m out as well, thanks
guys
[12:44 pm] truck : no just running
[12:44 pm] Kris : later taco
[12:45 pm] Mitch : good eye truck, too late
for me
[12:45 pm] shark : Kris -any updates on the
options ideas you were mulling?
[12:45 pm] truck : me too
[12:46 pm] Kris : I have someone virtual
trading it now shark
[12:46 pm] Kris : I’ll keep you posted
[12:46 pm] shark : Oh, nice! Ok
[12:48 pm] mhaus : Mitch, Kris, Brent, I
would like to learn about Options trading.
What reading material or study material you
would recommend?
[12:48 pm] Mitch : oh boy, not sure
mhaus[12:48 pm] Brent : I’ve never studied
options myself mhaus[12:48 pm] Mitch : do you
know anything about options mhaus?
[12:48 pm] mhaus : I know nothing about
options
[12:48 pm] Mitch : do you have the Wizard
Training Course?
[12:48 pm] chinhngo : long or short of dtg
?
[12:48 pm] Mitch : i have a section in there
that starts you off good
[12:48 pm] mhaus : I don’t think so
[12:49 pm] mhaus : It is not a part of the 3
DVDs, right?
[12:49 pm] Mitch : chingo, no, no touchy DTG,
only watching, 11 minutes left, no touchy,
Chinese man say no touchy
[12:49 pm] Kris : I wouldn’t recommend
trading options until you’ve mastered stock
trading since they are directly related.
[12:49 pm] truck : too late for most of us
chinhngo,,,DTG…might look at it Monday
[12:50 pm] Mitch : no mhaus, call
503-650-6346 and whoever answers will send
you one for free, just shipping handling
[12:50 pm] mhaus : Kris, I am thinking of
just studying it
[12:50 pm] Mitch : and start with that
chapter on options
[12:50 pm] mhaus : Thanks. Will do that this
afternoon
[12:51 pm] Mitch : last person leaves at 7pm
eastern
[12:51 pm] Mitch : ok, let me put this in
your head mhaus on options.
[12:51 pm] mhaus : I will call right after
the market closes
[12:51 pm] Mitch : Use options as just
another instrument to make a good trade after
you get a good swing trade signal. Start
with simple option strategies first
[12:52 pm] Mitch : all options do is give you
more leverage and you have to understand
stocks first,
[12:52 pm] Mitch : cant trade options on
scalping ideas we have here, only swing
trades
[12:52 pm] mhaus : My younger brother lost
almost 2M in 2000 in options
[12:52 pm] Mitch : he probably gave some of
that to me
[12:53 pm] Mitch : and probably some to
rusty
[12:53 pm] Mitch : and joeytsa[12:53 pm]
Mitch : and mike batty
[12:53 pm] Mitch : well, and thousands of
other people
[12:53 pm] mhaus : he was saying all these
terms which made no sense to me
[12:54 pm] rusty : remember the days of
ASKJ
[12:54 pm] Mitch : well, it didn’t make sense
to him either
[12:54 pm] rusty : Ask Jeeves
[12:54 pm] Mitch : yes, Ask Jeeves?
[12:54 pm] shark : 🙂
[12:54 pm] rusty : from single digits to
almost 200 and back
[12:54 pm] mhaus : and he just laughed at me
when I told him I am making a living in
stocks
[12:54 pm] rusty : ASKJ
[12:54 pm] rusty : was the symbol
[12:55 pm] shark : you learned from his
mistakes, mhaus?
[12:55 pm] mhaus : I never did options
[12:55 pm] mhaus : but made a ton in
stocks
[12:55 pm] Kris : that was one of the worst
search engines ever
[12:55 pm] Kris : jeeves was a moron
[12:55 pm] Mitch : its often a challenge to
trade both at the same time, it’s a different
mindset. you want to get a system down for
sure
[12:55 pm] rusty : remember MZON? went
from single digits to 54 in a couple of
days
[12:56 pm] mhaus : Just don’t want to look
like a dummy when I talk to him next time
[12:56 pm] Mitch : no don’t remember MZON,
[12:56 pm] Mitch : well mhaus, he is the one
who lost 2M
[12:56 pm] mhaus : That’s what I told him.
LOL
[12:57 pm] mhaus : He is still paying for
his losses and I am debt free
[12:57 pm] candelas : like guys with MF,Long
Term Capital,etc[12:57 pm] rusty : remember
CMGI of course
[12:57 pm] Mitch : i got one for you rusty,
BAMM, had a huge move just before
THanksgiving one year, probably 98,
[12:57 pm] rusty : BAMM!!!!
[12:57 pm] Mitch : RHAT
[12:57 pm] rusty : Books A Million
[12:57 pm] rusty : x
[12:57 pm] Mitch : right
[12:57 pm] rusty : great one
[12:57 pm] Mitch : EGGS
[12:57 pm] Mitch : TGLO
[12:57 pm] rusty : TGLO a classic
[12:58 pm] Mitch : Teleglobe, mentioned this
morning they had IPOd at $7 and first day
over $220
[12:58 pm] rusty : let’s not forget LNUX
opening in 330’s
[12:58 pm] Mitch : underwriters mispriced
that one, lol[12:58 pm] rusty : LNUX all
time high was the day it IPO’d[12:59 pm]
Mitch : most of these companies all gone.
Most bullshorts I ever did all gone, not even
pink sheets
[12:59 pm] rusty : I shorted ASKJ at 90-120
and in a few days was 190
[12:59 pm] rusty : had my stomach in
throat
[12:59 pm] Kris : yeeaaahhh
bbbbooooyyyyyy!!!!!
[01:00 pm] Kris : did you add to it rusty?
[01:00 pm] Mitch : RHAT, shorted around 255,
went to 215 same day and i didn’t like it so
i covered, following few days over 300
[01:00 pm] candelas : been there, taste
awful
[01:00 pm] rusty : yes added at 180
[01:00 pm] rusty : covered at 100
[01:00 pm] Kris : nice
[01:00 pm] rusty : and then it went back to
single digits
[01:01 pm] storage : have a good weekend
everyone it was a good day.
[01:02 pm] rusty : good weekend all
[01:02 pm] Mitch : taught a guy bullshorts
starting in 1996 or 97, not sure, his first
short was KTEL, shorted around 15-17 and it
went ballistic, i think JOhn, my friend, was
down $100,000 on that. He kept saying it
isn’t worth it (fundamentals). I said it
doesn’t matter because everyone else thinks
it is. SO the next 24 or 25 bullshort ideas
I gave him all were profitable so he held
that very first one, KTEL until he came back
to profits.
[01:02 pm] Mitch : then after he covered, the
company filed bankruptcy, lol[01:02 pm] rusty
: KTEL!
[01:02 pm] rusty : oh boy
[01:03 pm] rusty : one of the first internet
stocks
[01:03 pm] Mitch : right, that was another
shady company
[01:03 pm] shark : WOW!
[01:03 pm] rusty : remember all the B2B
stocks
[01:03 pm] Mitch : what is interesting rusty,
is that the same shady companies came back as
Chinese companies, lol!
[01:04 pm] shark : sounds like justification
to go in like Kris -with small position
size
[01:04 pm] rusty : lol[01:04 pm] rusty :
True
[01:04 pm] neuronx : see you all
[01:05 pm] Mitch : you must have funny
stories rusty, short a stock before a
surgery, then after a surgery, you are up
35%
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