[08:42 am] Mitch K: im gone 8.17
[06:27
am] Ed : on JCP would watch that 20 level on
any bounces
[06:28 am] Ed : ENR also got
lot of action late yesterday and up this
am
[06:29 am] Ed : if gets pass that had
issue with 80 in past
[06:29 am] Ed : ENR
hit 79 premarkt so level to keep an eye
on
[06:30 am] Mitch K: watching JAZZ for
bottom
[06:30 am] Mitch K: watching COV
for bottom
[06:31 am] Mitch K: watching
DIS for bottom
[06:31 am] Mitch K:
watching PRGO for bottom
[06:31 am] Mitch
K: watching LULU
[06:31 am] Mitch K:
monitoring DOV
[06:32 am] Mitch K:
watching MPC for bottom
[06:32 am] Mitch
K: monitoring TRV
[06:32 am] Mitch K:
watching OHI for bottom
[06:33 am] Mitch
K: watching DDD for bottom
[06:33 am]
Mitch K: watching THRX for top
[06:33 am]
Mitch K: watching DLB for top to
short
[06:34 am] Mitch K: watching BEAM
for short on top of this bounce
[06:34 am]
Mitch K: watching TSLA for bottom
[06:35
am] Mitch K: SD low priced
[06:35 am]
Mitch K: watching SD for bottom
[06:35 am]
Mitch K: watching ENR for top
[06:36 am]
Mitch K: consider reducing JAZZ soon,
gradually
[06:37 am] Mitch K:
high
[06:37 am] Mitch K: hig of day on
SPY
[06:37 am] Mitch K: watching GXP for
bottom
[06:38 am] Mitch K: consider
selling COV if long, watch for short
soon
[06:38 am] Mitch K: consider reducing
DOV long, gradually
[06:38 am] Mitch K:
monitoring AGU for top, too early
now
[06:39 am] Mitch K: watching ERF for
bottom
[06:39 am] Mitch K: consider
reducing more JAZZ if long
[06:40 am]
Mitch K: watching DUK but taking
time,
[06:40 am] Mitch K: watching SD
closer
[06:41 am] Mitch K: soon
[06:41
am] Mitch K: watching TRIP for short on top
of bounce
[06:41 am] Mitch K: watching COH
for short, retailer, coach bags
[06:41 am]
Mitch K: JAZZ toppy
[06:42 am] Mitch K: no
hurry on ERF
[06:42 am] Mitch K: watching
AFFY for top
[06:43 am] Mitch K: watching
DGIT for top to short
[06:43 am] Mitch K:
THRX toppy
[06:44 am] Mitch K: DIS tends
to trend, bigger moves up, smaller pullbacks,
then higher highs
[06:46 am] Mitch K:
watching RAX for bottom
[06:46 am] Mitch
K: still interested in LULU
[06:48 am]
Mitch K: ERF still dead but continue to
monitor for bottom
[06:48 am] Mitch K:
prefer rebound first before shorting, thats
what i mean
[06:48 am] Mitch K: watching
FLT for short, prefer rebound
[06:50 am]
Mitch K: consider selling JAZZ, be cautious
on a short with this
[06:51 am] Mitch K:
watching ORLY for top, same sector as AAP,
autoparts retailer. AAP turning over
now
[06:52 am] Mitch K: not liking ERF
yet, check news on that
[06:52 am] Mitch
K: SD bounce still strong
[06:53 am] Mitch
K: i wouldnt short SD
[06:53 am] Ed : ERF
has conference call this am
[06:53 am]
Mitch K: SD strong on all charts
[06:55
am] Mitch K: you notice when i say comments
like earlier on FLT has more downside, prefer
rebound . . . . most always these just keep
dropping down down down with little
rebound. its a little wishful thinking
it rebounds so i short half position right
when i see that pattern and wait for rebound
and hit it again. most times i just end
up with half position because does not
rebound until after bigger drop
[06:56 am]
Mitch K: dont touch ERF yet, remind me to
explain that pattern to you later
[06:56
am] Mitch K: on the 1 min chart
[06:56 am]
Mitch K: SD little toppy here
[06:57 am]
Mitch K: watching COH to cover short
soon
[06:58 am] Mitch K: if you short SD
take any profit, smalelr ones. its
coming out of a big bottom on daily chart, so
these tend to have lot more power on the
upside
[06:59 am] Mitch K: LULU
bouncing
[07:02 am] Mitch K: not seeing
the quantity of good ideas
[07:05 am]
Mitch K: Second, if anyone here voted for
Obama, we still love you but you need to
spread the wealth around if you make
money
[07:05 am] Mitch K: i wanted to say
a couple things before i forget. first,
i really appreciate working with all of you,
this is a really fun group and I get a lot of
pleasure out of being here.
[07:08 am] Ed
: SPY newhod
[07:09 am] Mitch K: looking
for 68 area on LULU
[07:09 am] Mitch K:
ERF trying to bounce here, smaller than
normal position
[07:09 am] Mitch K: and
you look at the daily chart on the extreme
drop it has had, that also tells you the
sellers are exhausted, mostly done
selling
[07:09 am] Mitch K: the SD chart
is perfect example of consolidation, hardly
any pullback, mostly sideways action.
that tells you it is strong
[07:12 am]
Mitch K: when i use the word monitoring, that
means it is not ready but just starting to
watch it
[07:12 am] Mitch K: monitoring
MDVN
[07:14 am] Mitch K: ok RAX weakening
a little
[07:14 am] Mitch K: RAX bounce
still strong
[07:17 am] Mitch K: is in the
middle of the two other prices that are
purple and blue.
[07:17 am] Mitch K: since
it is really slow this morning id like to
explain a little how to read this on how
strong a bounce is
[07:17 am] Mitch K: 2
min chart on RAX
[07:17 am] Mitch K: the
black price that says 60.01 right now .. . .
. .
[07:18 am] Mitch K: ok see how the
black price of 60.16 is now higher than
purple, that means it is still accelerating
up
[07:18 am] Mitch K: so if i switch to a
1 min chart, lets look at that
[07:18 am]
Mitch K: when you see the black price, which
is the current price, toward the top or
higher than the purple, that means it is
really strong
[07:19 am] Mitch K: when you
see the black 60.14 price down toward or
below the blue, it is starting to
weaken
[07:20 am] Mitch K: and the
position it is in
[07:20 am] Mitch K: so
if you are long something like RAX, you want
to watch that black price marker.
[07:20
am] Mitch K: this is SPY etf, black price is
below the other two colors right? means
it is weak, wants to go down
[07:21 am]
Mitch K: but you may remember i didnt like
how it was acting, i think i said it a couple
times
[07:21 am] Mitch K: i am not sure
quite how to intellectually explain this but
i think what i am going to try to explain is
based on so many years of watching
charts
[07:21 am] Mitch K: let me go
through ERF with you for a second
[07:22
am] Mitch K: right here in that blue area, i
clearly saw this wasn tready to buy, not even
close
[07:22 am] Mitch K: im not showing
this so you can buy it , i am just explaining
something
[07:24 am] Mitch K: first of
all, this is a 2 min candle. so you see lower
lows, lower highs and stock charts or futures
charts they rarely move up without some
transition period of going flat for at least
2 candles or 3 on a 2 min chart
[07:24 am]
Mitch K: and you see at the bottom i ttook
like 5-6 candles to even think about moving
up
[07:25 am] Mitch K: i like stocks that
have an accelerating drop, bigger down
candles and biggest one is almost at
bottom
[07:25 am] Mitch K: i liked SD for
a different reason, it
[07:26 am] Mitch K:
you touch anywhere in the chart and type in
1m, for 1 minute
[07:26 am] Mitch K: this
is RAX gave very clear signal on the bottom
of both 1 and 2 min, this one is a 2 min
chart, let me switch to 1
[07:27 am] Mitch
K: back to ERF chart here. hope that
helps you a little
[07:36 am] Mitch K:
housing stocks really in the dog house
today: DHI, TOL, PHM
[07:36 am] Ed :
Pres. Obama speaks at 1:30est today
[07:37
am] Mitch K: also KBH
[08:22 am] Ed :
Speaker of house speaking
[08:24 am] Mitch
K: someone get news on MCP, looks real
good
[08:24 am] Ed : MCP fits of being
more advanced trade
[08:25 am] Ed :
Molycorp discloses formal order of
investigation from SEC
[08:26 am] Mitch K:
who wrote story on SEC investigation on
MCP
[08:26 am] Ed : thx
mike/doji
[08:27 am] Mitch K: oh
ok
[08:27 am] Mitch K: i mean whats the
news source
[08:28 am] Ed : ciruit breaker
halt
[08:28 am] Mitch K: prob circuit
breaker halt
[08:29 am] Mitch K: code
M
[08:29 am] Mitch K: Individual Security
Volatility Trading Pause Trading has been
paused in an Exchange-Listed issue (Market
Category Code = C) that experiences a price
change of 10% or more within a rolling 5
minute period of time.
[08:30 am] Mitch K:
no resumption time yet
[08:30 am] Mitch K:
copy this in favorites:
http://www.nasdaqtrader.com/Trader.aspx?id=Tr
adehalts
[08:30 am] Mitch K: what we want
isa gap down on opening of MCP and get
lower price, im loking for a bounce but want
lower
[08:31 am] Mitch K: look at daily
chart, clearly people knew of this before
today, selling for 2 weeks, accelerating
drop, should bounce strongly
[08:32 am]
Mitch K: we used to trade MCP a lot year
ago
[08:33 am] Mitch K: re
opened
[08:36 am] Mitch K: you earned an
ice cream cone
[08:36 am] Mitch K: thanks
for MCP murano
[08:37 am] Mitch K: but on
MOnday Murano, you have to start all over
again or you go back in the dog
house
[08:38 am] Mitch K: code M halt
again
[08:38 am] Mitch K: looks halted
again
[08:39 am] Mitch K: i dont see this
gapping down on this next opening
[08:39
am] Mitch K: has a lot of potential
[08:39
am] Mitch K: dont worry mike, this should
keep moving up
[08:39 am] Mitch K: too
much vol buying
[08:39 am] Ed : SPY new
hod
[08:40 am] Mitch K: we are talking
about MCP right now
[08:42 am] Mitch K:
try for best price to close, my
suggestion
[08:42 am] Mitch K: thats
probably the top here
[08:42 am] Mitch K:
topped out
[08:42 am] Mitch K:
open
[08:42 am] Mitch K: no resumption
time quoted yet
[08:43 am] Mitch K: yeah
it is struggling
[08:44 am] Mitch K:
another ice cream cone for Murano on
short
[08:45 am] Mitch K: aMCP was around
$79 high
[08:50 am] Mitch K: nice one
murano, MRX
[08:50 am] Mitch K: half day
trading after THanksgiving
[08:50 am]
Mitch K: only holidays left this year is
thanksgiving and christmas
[08:52 am]
Mitch K: keep some shares short on MCP to see
if goes below 7.50
[08:53 am] Mitch K: MCP
looking like trying to bottom
[08:55 am]
Mitch K: buy signal on MCP
[08:57 am]
Mitch K: looking for short soon on
MRX
[08:59 am] Mitch K: good man murano,
you earned your keep for Monday now.
Work on TUesday ok?
[09:01 am] Ed : SPY
new hod
[09:27 am] Mitch K: consider
covering MRX here
[09:30 am] Mitch K: MRX
buy signal
[09:42 am] Ed : would like
a move on CHRW into 63 area b4
considering potential short
[09:50 am] Ed
: the time is 1pm est. the Prez will
speak
[10:08 am] Ed : our Prez is about to
speak
[10:15 am] Mitch K: MCP
bouncing
[10:19 am] Mitch K: watching VRX
for top to short, missed bottom
[10:20 am]
Mitch K: i sure had a hard time keeping a
straight face when i was posting “Watching
LTD for bottom” last week
[10:22 am]
Mitch K: ” and watching for bottom in
LIFE”
[10:23 am] Mitch K: thanks for
making us all money today Murano
[10:25
am] Mitch K: but VRX is low vol
[10:25 am]
Mitch K: still watching VRX for
short
[10:26 am] Mitch K: Hey Joey, did
you see that AET, Aetna CEO forecasting 8.9%
unemployment rate by end of first
quarter
[10:27 am] Mitch K: and layoffs
would be likely, esp because of healthcare
costs
[10:27 am] Mitch K: yeah, he gauged
that by talking to the other 80 CEOs in that
group that said similar strategy to manage by
costs, not by growth
[10:28 am] Mitch K:
low of day on SPY
[10:29 am] Mitch K: new
low again, lower low on SPY
[10:29 am]
Mitch K: thanks qwert on CL, got buy signal
alerted
[10:31 am] Ed : alert
DTGT/HTZ
[10:33 am] Ed : FTC seeks more
divestitures related to deal
[10:40 am] Ed
: covering 3/4 of HTZ and DTG short
[11:34
am] Mitch K: lot
[11:34 am] Mitch K: lo of
short covering going on
[12:57 pm] Ed :
have a great weekend traders
[01:04 pm]
Mitch K: later guys
[10:33 am] Ed : HTZ
extends offer to aquire DTG to 11/16
| [05:25 am] qwert : Good morning to
everybody
[05:49 am] mikewd2 -: good
morning traders, nice 5 pt move in AAPL
premarket
[06:01 am] taco : good
morning all
[06:02 am] taco : MDRX
might have a good move today
[06:05 am]
joeytsa : good morning Mitch,
everyone
[06:07 am] qwert : gm taco,
joey
[06:07 am] qwert : gm
mike
[06:07 am] reshef :
g.morning
[06:08 am] taco : hi
qwert
[06:12 am] mikewd2 -: hi
qwert
[06:14 am] joeytsa : gap down:
SPRD,STRA,DIS,JCP
[06:14 am] doji :
Good morning
[06:14 am] joeytsa :
gap up: AAPL,ZIP,NFLX,KYAK on
buyout
[06:14 am] doji : Missed APPL
run in the pre=market…. I was too
busy
[06:14 am] taco : thanks
joey
[06:16 am] joeytsa : not sure
how today will play out..will traders try to
pick up bargains or stay clear over teh
weekend?
[06:17 am] joeytsa : prelim
U0fM #’s @ 6:55pdt, wholesale inv @ 7pdt,
0bama speaks @ 10:05pdt
[06:17 am] mikewd2
-: is monday a holiday?
[06:18 am]
joeytsa : still trading on
monday
[06:18 am] joeytsa : but yes,
veterans day
[06:18 am] joeytsa :
banks closed etc
[06:18 am] mikewd2 -: ok,
something flashed up on etrade and i didn’t
see it except holiday – haha
[06:18 am]
joeytsa : yeah that happened to me on
columbus day..thought we had a 3 day weekend
haha
[06:19 am] mikewd2 -: doji: a bit
worried on AAPL premarket went down to
533.35’ish
[06:19 am] mikewd2 -: nice 10
pt rebound
[06:19 am] joeytsa :
mike: are you in AAPL?
[06:19 am] mikewd2
-: yeah, i still have weekly
options
[06:20 am] mikewd2 -:
calls
[06:20 am] joeytsa :
gotya
[06:20 am] mikewd2 -:
540’s
[06:21 am] doji : Holding the
calls Mike. I missed going long on the
stock at the pre-market…
[06:21 am]
mikewd2 -: i almost pulled the trigger, but
kept thinking of that 528 area
[06:22 am]
Ed : until Mitch gets back in room which
should be shortly, I will be giving out alot
of ideas, u want to pull up chart as soon as
possible and see it it fits ur trading
style
[06:22 am] mikewd2 -: good sign AAPL
bounced back with down market
[06:22 am]
qwert : sure thing ed
[06:23 am]
mikewd2 -: Ed, oh we suppose to have a
trading style??? lol
[06:23 am] taco
: got it
[06:23 am] doji : I’ll most
probbly run up at the open Mike… everyone
wanting to upload in APPL.. at least for the
next 2-3 days
[06:23 am] Ed :
yea
[06:23 am] Ed : i think
[06:24 am]
Ed : AAPL has dropped from 700 so not
uncommon to see some sort of bounce
[06:24
am] mikewd2 -: would love a big
bounce
[06:24 am] skydiver : gm
all
[06:24 am] Ed : FSU won last night so
Im happy
[06:25 am] mikewd2 -: big bounce
= lunch on doji
[06:25 am] qwert :
yay
[06:25 am] mikewd2 -: yeah, saw that
Ed
[06:25 am] doji : I’d love it to
pull back and then run up…. so gives the
chance to load up first
[06:25 am] mikewd2
-: if A&M wins saturday i will be
happy too
[06:25 am] Ed : yea hokies are
11-3 playing at home
[06:25 am] mikewd2 -:
nice win
[06:25 am] Ed : who’s on deck for
a&m
[06:25 am] mikewd2 -: haha –
Alabama
[06:25 am] Ed : u guys at
home
[06:25 am] mikewd2 -: at their
place
[06:26 am] doji : Hey Mike,
APPL has moved but the options have
not
[06:26 am] mikewd2 -: options don’t
open until 8:30am
[06:26 am] reshef
: sd
[06:26 am] mikewd2 -: reshef: if you
post a stock for us to look at please make it
in CAPS, ie SD
[06:27 am] reshef :
what is caos?
[06:27 am] reshef :
caps
[06:27 am] mikewd2 -:
capitals
[06:27 am] doji : it is
almost 9:30AM ET
[06:27 am] joeytsa
: capital letters
[06:27 am] reshef
: ok
[06:27 am] mikewd2 -: thank
you
[06:28 am] joeytsa : but type
regular words in lowercase
[06:28 am]
joeytsa : or it looks like you are
shouting haha
[06:28 am] doji :
Watching FB
[06:28 am] reshef :
MCD
[06:28 am] joeytsa :
🙂
[06:29 am] elisha : Good Morning
Mitch, Ed and everyone
[06:30 am]
shark : hi elisha, everyone
[06:30
am] elisha : hey shark
[06:31 am]
qwert : watching DIS
[06:32 am]
shark : NFLX
[06:32 am] doji :
NFLX the usual ATM at the open
[06:33 am]
joeytsa : low prided SD
falling
[06:33 am] joeytsa : priced
not prided
[06:33 am] joeytsa : ES
trying to break up
[06:33 am] mikewd2 -:
maybe both joey
[06:33 am] doji :
Dang missed JCP
[06:34 am] doji :
APPL dropping… needs to hold 528
[06:34
am] joeytsa : should be some support
there doji
[06:35 am] joeytsa : but
like the saying goes, there is no support in
a falling stock/market
[06:36 am]
joeytsa : KORS testing $51
res
[06:36 am] doji : JCP
[06:37
am] doji : ES very strong …at least
since the open
[06:38 am] shark :
FLT
[06:38 am] doji : Ouch
APPL
[06:41 am] taco : dang, doing
better today:)
[06:42 am] doji :
Watching AGU
[06:42 am] shark : CMG
back to b/e
[06:42 am] shark :
FLT
[06:43 am] doji : SPY turned
positive now
[06:43 am] shark : thx,
doji 🙂
[06:43 am] joeytsa : DGIT
spike, lower priced
[06:44 am] shark
: DIS
[06:44 am] joeytsa : ORLY
might get toppy
[06:45 am] shark :
thx, Mitch
[06:45 am] skydiver : L
SD 4.99 – out 3/4 at 5.26
[06:45 am]
skydiver : thnx Mitch for SD
[06:45
am] qwert : nice sky
[06:45 am]
skydiver : slow today — my first
trade
[06:45 am] shark : wake up,
wake up, sky
[06:46 am] skydiver :
need coffee!!!
[06:46 am] shark :
lol
[06:46 am] skydiver :
:)_
[06:46 am] joeytsa : AMZN
lod
[06:46 am] joeytsa : ES pulled
back a bit
[06:46 am] doji : a
bit?
[06:46 am] shark : about time
on AMZN drop, joey
[06:47 am] shark
: teflon stock
[06:47 am] reshef :
CLB
[06:48 am] skydiver : moving
stop up on SD long
[06:50 am]
joeytsa : tighten SPRD if
short
[06:50 am] joeytsa : UofM#’s
in 5 minutes
[06:50 am] doji : FLT
no rebound
[06:50 am] mikewd2 -: SD, been
nice up 7% so far
[06:50 am]
skydiver : guess SD is a good stock for
a foggy brain this morning 🙂
[06:50 am]
joeytsa : yeah, working nice
[06:51
am] mikewd2 -: loaded the boat with it,
haha
[06:51 am] skydiver : glad I
doubled my normal position on SD
[06:52
am] joeytsa : AAPL lod
[06:52 am]
skydiver : making more money on my last
1/4 piece of SD than my first 3/4!
[06:52
am] qwert : same here sky
[06:53 am]
doji : ORLY strong
[06:53 am]
skydiver : nice qwert
[06:53 am]
qwert : i only went 1/2 position
because low price stock
[06:53 am]
doji : Just one trade today,
NFLX…
[06:54 am] mikewd2 -: out half SD,
12% gain
[06:54 am] qwert : nice
mike
[06:54 am] mikewd2 -: trailing last
half 10 cents
[06:54 am] doji : Nice
Mike
[06:54 am] skydiver : yeah
qwert – I doubled mine since it was so low
priced, but had tight stop on it and then
jumped out a bit early on the first
part
[06:54 am] joeytsa : all out
SD
[06:54 am] skydiver : all out of
SD long
[06:55 am] mikewd2 -: bought APPL
540 calls
[06:55 am] skydiver : nice
joey
[06:55 am] joeytsa :
🙂
[06:55 am] mikewd2 -: at 2.70 for the
calls
[06:55 am] mikewd2 -: michigan
sentiment 84.9
[06:55 am] joeytsa :
those low priced ones dont usually hit my
scanner, glad this one did
[06:56 am]
mikewd2 -: me too joey
[06:56 am] mikewd2
-: stopped on last half, same 12%
[06:56
am] eyes : way to go Mike
[06:56 am]
doji : ORLY
[06:57 am] joeytsa
: tigthen ORLY if long
[06:57 am]
doji : Long?
[06:57 am] doji :
I was waiting for the short
[06:57 am]
qwert : me to doji
[06:57 am]
joeytsa : i will sell you my shares
🙂
[06:57 am] qwert : nice
joey
[06:59 am] eyes : any thoughts
on S affy Here
[06:59 am] doji : Big
hammer on the daily on SD
[06:59 am]
shark : NFLX testing hod
[07:00 am]
joeytsa : ALXN been strong
[07:01
am] joeytsa : ABT trying to
move
[07:01 am] skydiver :
monitoring LNKD
[07:01 am] skydiver
: SPY moving up
[07:01 am] joeytsa :
RAX fighting at $59
[07:03 am] qwert
: ENR still moving up
[07:03 am]
joeytsa : out ORLY, looks tired but
ready to jump again over $92
[07:03 am]
skydiver : nice joey on ORLY
long
[07:03 am] joeytsa : i mean i
will jump if it pushes over $92
[07:04 am]
joeytsa : thx
[07:04 am] doji
: It’s me or the market is very
slow?
[07:04 am] Ed : very slow
[07:04
am] joeytsa : just your internet h
aha
[07:04 am] doji : SD
[07:04
am] shark : you trading on yesterdays
data, doji?
[07:05 am] joeytsa :
yeah, like running in heavy sand
[07:05
am] doji : Shark, ?
[07:05 am]
joeytsa : haha..we love it here
too
[07:05 am] shark : love it here
too, Mi
[07:06 am] qwert : best room
ever
[07:06 am] doji : Does sim vote
counts Mike?
[07:06 am] skydiver :
This is a fantastic group to be
with!!! Thnx Mitch 🙂
[07:06
am] elisha : same here, I love it here
too Mitch
[07:06 am] taco : glad we
found each other!
[07:06 am] shark :
taco, taco, taco!
[07:06 am] joeytsa
: i honestly cant even remember how i
stumbled upon TSA
[07:06 am] taco :
)
[07:06 am] elisha : divine
intervention joey
[07:06 am] joeytsa
: think i was just doing daytrading searches
on the internet
[07:07 am] doji :
hahaha I saw it in The Street… Mitch saying
he made millions of dollars….
[07:07 am]
joeytsa : saw some smiling Chinese guy
and said what the heck haha
[07:07
am] qwert : hahaha
[07:08 am]
joeytsa : BIIB strong
[07:09 am]
shark : SPY new hod
[07:10 am]
shark : DIA positive now
[07:12 am]
joeytsa : if long RAX, its coming into
$60
[07:13 am] doji : APPL couereld
brekout h
[07:14 am] mikewd2 -: traded
calls 3 times today doji,
[07:14 am]
mikewd2 -: on AAPL
[07:14 am]
joeytsa : RAX approx 50%
retracement
[07:16 am] mikewd2 -: out SVXY
from 62.00
[07:16 am] doji : Mi
calls are positive now Mike…let’s see how
it goes
[07:16 am] reshef :
ADT
[07:16 am] eyes : ENR triangle
any Thoughts
[07:16 am] mikewd2 -: i
dumped my overnight on that first
bump
[07:17 am] mikewd2 -: in puts
now
[07:17 am] qwert : okay
listening
[07:18 am] skydiver :
ok
[07:19 am] shark : yes
[07:21
am] doji : APPL
[07:22 am]
cowboyh : ERF looks like a dead cat
bounce
[07:22 am] skydiver : yes you
did Mitch
[07:22 am] mikewd2 -: sold the
puts for small profits, but didn’t get the
call – doji
[07:23 am] mikewd2 -: AAPL at
pivot
[07:24 am] qwert :
yep
[07:24 am] reshef : Mitch can
you show on fast mover like SD
[07:25 am]
joeytsa : ES touched 1380
[07:25 am]
reshef : Thanks
[07:25 am]
joeytsa : nice jump on AAPL
[07:27
am] mikewd2 -: doji, you still in your calls
on APPL from yesterday?
[07:27 am]
doji : Selling 1/2 calls position at
7.60… from 4.7 yesterday
[07:27 am]
joeytsa : nice one doji
[07:27 am]
joeytsa : thanks Mitch
[07:27 am]
mikewd2 -: very good
[07:27 am]
qwert : thx mitch
[07:27 am]
doji : Thanks Mike
[07:27 am]
elisha : thank you Mitch, for the
lesson
[07:28 am] mikewd2 -: don’t get to
greedy, remember they expire today –
lol
[07:28 am] reshef : Mitch,when
can start with?
[07:28 am]
ticktrader : Thank you Mitch
[07:28
am] taco : thanks Mitch
[07:28 am]
doji : YEs thanks
[07:28 am] mikewd2
-: might want to use a stop
[07:28 am]
mikewd2 -: fyi, i’m back in puts
[07:28
am] skydiver : yes .. . thanks
Mitch!!
[07:29 am] eyes : mike you
play in the money
[07:29 am] mikewd2 -:
been playing the 540’s both ways
[07:30
am] mikewd2 -: might look at moving the next
calls up to 545 if i trade again
[07:31
am] Mitch K: eyes, dont play options, you
need to get good at one thing and not jump
around. YOu need to stabilize one
working with stocks
[07:31 am] mikewd2 -:
very true Mitch, good advice
[07:31 am]
eyes : i am not playing them was just
curios
[07:31 am] eyes : i lost a
lot on them a few years ago
[07:32 am]
Mitch K: dont even look at them, get good at
this pattern in stocks, reversals
[07:32
am] joeytsa : options can be
tricky
[07:33 am] shark : options
are like stocks on steroids, huge leverage,
which can work both ways
[07:33 am]
eyes : Got it thanks Mitch
[07:33
am] joeytsa : you can get lost in the
greeks etc
[07:33 am] shark : risk
mgmnt is different than with stocks
[07:33
am] mikewd2 -: and I am playing only on
thursdays and fridays on friday
expiration
[07:34 am] doji : Close
all my options in APPL… thanks
Mike
[07:34 am] mikewd2 -: and only with a
small portion of my weekly day trading
profits
[07:34 am] mikewd2 -: so get some
profits first eyes –
[07:34 am]
joeytsa : ES making lower highs on my
340tick
[07:34 am] mikewd2 -: very nice
doji
[07:34 am] joeytsa : nice
doji
[07:34 am] mikewd2 -: my puts working
out nicely now
[07:34 am] shark :
trade like 1-2% of your portfolio size on any
one position
[07:34 am] mikewd2 -: die
AAPL haha
[07:35 am] eyes : Ya mike
I am holding on by a thread right
now
[07:35 am] mikewd2 -: yeah, you don’t
need options
[07:35 am] joeytsa :
the most important thing about options is
that its still all about the stock
[07:35
am] mikewd2 -: you need to develop sound
strategy and stick to the stuff Ed, Mitch has
taught you
[07:35 am] eyes : I am
not trading it was just a question
[07:35
am] mikewd2 -: understand
[07:35 am]
shark : ok, eyes 😉
[07:36 am]
doji : FSLR
[07:36 am] joeytsa
: it was 1:05 earlier haha
[07:36
am] taco : eyes, have you read trading
in the zone? it has helped me a lot
[07:37
am] eyes : about four times
[07:37
am] shark : TOL @ S3
[07:37 am]
mikewd2 -: second term for Obama, might have
the “i didn’t not have sex with that women
speech”
[07:37 am] taco :
k
[07:37 am] qwert : love that
book
[07:38 am] reshef :
CLF
[07:38 am] mikewd2 -: yeah coal stocks
moving
[07:39 am] joeytsa :
http://tradersbase.com/backup/ebooks/summaryt
radinginthezone.pdf
[07:39 am]
joeytsa : summary of the book
[07:39
am] doji : another breakout in
APPL?
[07:39 am] mikewd2 -: not able to
take out 547.00 yet
[07:42 am]
skydiver : LNKD has been steady climb
for awhile
[07:42 am] doji : I will
break it Mike… too many people wanting to
get on boeard for sure
[07:42 am]
doji : It
[07:43 am] joeytsa :
break time, nice morning..make some money
🙂
[07:43 am] skydiver : I have an
early meeting to get too. All out
of LNKD long — see ya all and have good
break joey
[07:43 am] joeytsa :
enjoy sky, thanks
[07:44 am]
skydiver : 🙂
[07:44 am] taco
: bye sky
[07:44 am] taco : cya
j
[07:44 am] apple : gm all fun
traders, was in a futures class
[07:44 am]
apple : bye sky have fun
[07:44 am]
taco : hi apple
[07:45 am]
qwert : gm apple cya
sky
[07:45 am] klas : gm
apple
[07:45 am] apple : gm
klas
[07:45 am] apple : gm
taco
[07:45 am] apple : gm
qwert
[07:45 am] apple : gm
joey
[07:45 am] apple : gm
doji
[07:45 am] apple : gm
E
[07:45 am] regatta : CLF
[07:45
am] apple : gm MK
[07:46 am]
doji : HI Appl
[07:46 am] doji
: I sent you an e-mail apple
[07:46 am]
apple : i did a quick reply
[07:46
am] apple : more later
[07:47 am]
doji : Tnaks
[07:49 am] shark
: LULU nearing b/e
[07:49 am] shark
: hi & thx, apple 🙂
[07:50 am]
qwert : Watching MDRX
[07:50 am]
shark : NFLX 3x hod retest
[07:51
am] eyes : CLF
[07:51 am]
apple : pres to speak at 1
EST
[07:51 am] apple : saw that
shark
[07:52 am] doji : Hummm. could
drag the markets?
[07:52 am] shark :
what doji?
[07:53 am] doji : The
President
[07:53 am] shark : haha,
oh yeah, of course
[07:53 am] taco :
MDRX
[07:59 am] Ed : this is suggestion
for eyes and others who are having issues
with being consistently profitable, or just
starting. I would stongly recommend going
back to basics, keeping it simple. And pick 1
strategy and stick with it for as long as it
takes to become highly proficient with that
particular startegy
[08:00 am] apple
: great advice E
[08:00 am] Ed :
Proficient meaning ur win% is far outweighing
ur loss, and ur profitable more days than
not
[08:00 am] shawn : Anybody short
CLF?
[08:01 am] Ed : no matter what level,
we tend to forget and think we have to trade
everything, this is far from the trutk, u
woill only make ur broker happy
[08:02 am]
shark : ZIP
[08:02 am] Ed : even if
ur particular strategy yields 5 trades per
week, who cares, u dont need alot of trades
to have a profitable
day,week,month,year
[08:02 am] taco
: agree
[08:03 am] taco : much
better than 20 losing trades
[08:03 am]
taco : i’m turning the corner
there
[08:03 am] mikewd2 -: AAPL at
550
[08:03 am] apple : good for you
taco
[08:03 am] taco : ty
[08:04
am] Ed : never feel like u have to catch
every trade, if u miss so be it, you have to
know that opportunities abound in market
place, and the best think u can do is be
mentally, prepared for when it
comes,
[08:04 am] apple : also helps
to be familiar with a few stocks and
recognizing the patterns
[08:05 am] Ed :
and so much easier to recognize 1
pattern
[08:05 am] doji : APPL has
been slowliy drifting hihgers….
[08:05
am] apple : right and when you see it,
go4it!
[08:05 am] doji : look like a
controlled buying
[08:06 am] Ed : does
that make sense????
[08:06 am] eyes
: i have done three trades today -12
dollars
[08:06 am] taco :
yezz
[08:07 am] taco : very
much
[08:07 am] elisha : Ed, your
Saturday lesson was so encouraging. I
had to laugh when the reference to setting
small daily profit goals was mentioned at
$200 per day to start. I had,
prior to your class, had figured $100 per day
would keep me off the streets.
[08:07 am]
apple : earlier i took an AAPL 550
call
[08:07 am] Ed : right, u dont
have to make it such a huuge goal
[08:07
am] Ed : baby steps
[08:09 am] Ed : on
what u mentioned on SD, thats a small
adjustment eyes
[08:09 am] eyes :
Well at this Point I have not been able to do
that Elisha so you are good
[08:09 am]
elisha : I have discovered, however the
trade has gone, when I am out to just take it
off the screen and look for something
else. I say to myself, there is ALWAYS
another trade.
[08:09 am] reshef :
Ed, as I understand all about S/R whow win
buyer or seller and to be on the
trend
[08:09 am] Ed : its different for
everyone, but u want the goal to be
measurable, and realistic
[08:10 am]
elisha : Eyes, I am not live yet so for
me this is all theory. I don’t yet have
your courage.
[08:10 am] Ed : nice elisha,
u find things that work best 4u
[08:10 am]
elisha : You and Mitch and everyone
here are all so helpful.
[08:10 am]
ticktrader : One of the things I am
struggling with is that Mitch has SO many
ideas within first few minutes, and I start
looking at few whihc may have not signala and
miss th signlas on other. Big
challenge
[08:11 am] apple : it’s
best to try to execute your trades flawlessly
and be worried about the cash, it will
come
[08:11 am] Ed : so, what u want to do
tick if ur trading off ideas in room, is to
work on ur speed
[08:12 am] elisha :
Tick, I have that same problem but joey put
it in perspective for me. He said just
a few days ago that you can only catch a few
and you don’t know if the ones you catch will
be big or not.
[08:12 am] Ed : ur
challenge right now is not unique to you,
many of us had same issue when we started in
room
[08:12 am] elisha : so back to
there’s always another trade
[08:13 am]
reshef : Ed, Do you see sell on
CLF?
[08:13 am] ticktrader : I am
realizing that 2 monitors is not enough and I
can’t be indecisive during that first
hour.
[08:13 am] apple : yes,
right. joey is corect. and we
have all been through it
[08:13 am]
doji : FB
[08:14 am] Ed : hey
reshef, thats more of a wear u out type of
trade if ur tryn to short, so would
pass
[08:14 am] sman : are the
graphs on screen the better choices of
Mitch’s suggestions?
[08:15 am]
reshef : Thanks
[08:15 am]
taco : i am greatful to have found this
trading room for sure
[08:15 am]
elisha : Another thing that blows me
away is how you guys can trade and banter –
especially in the first 90 minutes. I
can barely keep up with the calls – let alone
the chat.
[08:16 am] Ed : when Mitch,
calls them, I try to put up the charts for
viewing, some may not get chance to get
placed
[08:16 am] eyes : see you all
later
[08:16 am] apple : elisha you
just have to pick and choose
[08:17 am]
taco : bye eyes
[08:17 am]
apple : bye eyes
[08:17 am]
elisha : bye eyes
[08:17 am] Ed : c
ya eyes
[08:18 am] joeytsa : good
lesson Ed, just catching up
[08:18 am]
joeytsa : boehner getting ready to
speak
[08:18 am] elisha : apple, i
am guessing the picking and choosing gets
more instinctive after viewing the first
million charts.
[08:18 am]
ticktrader : Elisha- I agree with you
it is difficult to chat and trade during the
first hour.
[08:19 am] Ed : sman, this
time of day things tend to slow down, so we
get from time to time some news mover or
buyout rumor to exploit for trade
[08:19
am] elisha : Tick, you misunderstood
me, right now for me its impossible
[08:19
am] Ed : they are typically more
advanced
[08:19 am] apple : again,
it’s recognizing the pattern and making a
quick decision
[08:19 am] Ed : are you new
sman?
[08:20 am] sman :
yes
[08:20 am] joeytsa : welcome to
the room sman
[08:20 am] Ed : welcome to
the room
[08:20 am] ticktrader :
Elisha- I am flat or in a slow moving
position with stops and targets in place, I
can manage multitasking. But, when I am
trying to get into a trade duirign the first
hour, it is impossible for me.
[08:20 am]
taco : hey sman
[08:20 am]
apple : sman you pcked the right place,
welcome
[08:21 am] apple : tick,
some people wait until after 10, find out
what will work best for you
[08:21 am]
ticktrader : SMAN- Big Welcome from Los
Angeles
[08:21 am] Ed : good point, tick,
as trader its important to know not only the
types of trades that fit ur personality but
also the time u have the most
success
[08:21 am] Ed : time of day that
it
[08:21 am] taco : or what Mitch
said the other day 1 look for big mover 2
wait for signal 3 monitor for closing
signal
[08:21 am] murano :
MCP
[08:22 am] reshef :
MCP
[08:22 am] joeytsa : ES pulling
back
[08:22 am] mikewd2 -: Molycorp
discloses formal order of investigation from
SEC
[08:22 am] doji : SEC
Investigation in MCP
[08:22 am]
apple : MCP has really hit the
skids!
[08:24 am] murano : No shorts
at Lightspeed
[08:24 am] doji : It’s
a formal investigation from the SEC
[08:25
am] mikewd2 -: we posted it mitch
[08:25
am] apple : thx doji
[08:26 am] Ed :
Mitch has 101 monitors
[08:26 am]
apple : thx mike
[08:27 am]
doji : I did
[08:27 am] apple
: and 50 hands
[08:27 am] mikewd2 -:
Molycorp disclosed
[08:27 am] doji :
10-Q
[08:28 am] qwert :
halted
[08:28 am] murano :
Halted
[08:28 am] doji : 1/2 million
shares /minute being dumped
[08:28 am]
doji : halted
[08:28 am] qwert
: so that means hands off?
[08:28 am]
joeytsa : looks like it Mitch
[08:28
am] victor51 : Need to go uut. Good
luck everyone
[08:28 am] mikewd2 -: dang,
just put in a long order but halted before
executed – either luck or ??
[08:28 am]
ticktrader : Cya Victor
[08:29 am]
joeytsa : have to be careful with those
fast/big moves…halts can come
[08:30 am]
doji : Tell me that
[08:30 am]
ticktrader : how long is the
pause
[08:30 am] mikewd2 -: minutes to
days tick
[08:34 am] apple : bye
victor have fun
[08:34 am] Ed :
sweet
[08:36 am] joeytsa :
haha
[08:36 am] joeytsa : i will
throw in the sprinkles on top
[08:37 am]
cowboyh : I make it 2 scoops
[08:37
am] taco : 2 of those/wk properly
handled is great $
[08:37 am] taco :
even 1
[08:37 am] joeytsa :
yep
[08:38 am] taco : lots of time
too
[08:38 am] Ed : he had bankers hours
yesterday Mitch
[08:38 am]
ticktrader : Halted again?
[08:38
am] qwert : yep
[08:38 am] Ed :
halted again
[08:39 am] mikewd2 -: damn,
had a sell at 8.31 and didn’t get
executed
[08:39 am] mikewd2 -: canceled
sale order – maybe i got lucky
[08:40 am]
apple : may be, mike
[08:40 am]
mikewd2 -: yep
[08:41 am] eyes :
what did i miss
[08:41 am] Ed : MCP
short/long
[08:41 am] taco : hey
eyes
[08:42 am] eyes : wow nice
move
[08:42 am] mikewd2 -: i’m long from
7.72
[08:42 am] joeytsa :
trading
[08:43 am] joeytsa : AAPL
tri top on 1min
[08:44 am] joeytsa :
MCP has been a dog for around
18months
[08:44 am] apple : thx
joey, remember when it was in the
60s?
[08:45 am] joeytsa : yeah, it
was in the 70’s at one point
[08:45 am]
qwert : no shares at light speed for
short
[08:45 am] joeytsa : back when
“rare earth” was the next big thing
[08:46
am] qwert : now just checked and they
have some at light speed
[08:46 am]
joeytsa : still on the L list
[08:46
am] joeytsa : but that doesnt mean they
dont have them
[08:46 am] doji : No
shares in TDA
[08:47 am] qwert :
yeah first time i checked was none and now
they have them
[08:47 am] joeytsa :
hard to borrow at schwab too surprise
surprise haha
[08:47 am]
joeytsa : ENR broke down a
bit
[08:48 am] doji : We need
another leg down in MCP…
[08:48 am]
apple : nice long moves off lod on
ES
[08:48 am] joeytsa : trading
really slow though
[08:48 am] mikewd2 -:
wonder how high it would have bounced without
vol breaker
[08:48 am] apple :
everything seems slow, is monday a market
holiday – veteran’s’ day
[08:48 am]
joeytsa : trading open on
monday
[08:49 am] apple : well,
robert has off of school and it’s supposed to
about 65 degrees, so it’s a playday — may
trade early am tho
[08:50 am] murano
: MRX
[08:50 am] apple : thx
MK
[08:50 am] joeytsa : yeah, might
just skip that day
[08:51 am] taco :
nice murano
[08:51 am] joeytsa : thx
murano
[08:51 am] reshef :
STRA
[08:55 am] mikewd2 -: die
AAPL
[08:56 am] mikewd2 -: Google websites
blocked in China, Washington Post
reports
[08:57 am] mikewd2 -: back in MCP
L
[08:59 am] murano : Ok
[09:00
am] apple : high noon rally?
[09:07
am] apple : NFLX has been hugging 77
for about 7 days, getting reading for another
breakout?
[09:08 am] doji : I had
nice rallies at the open Apple
[09:09 am]
apple : right, but i was looking on 15
min 15 day
[09:09 am] apple : more
long term
[09:09 am] reshef :
NS
[09:10 am] doji : Look at APPL in
the 15min chrta
[09:12 am]
ticktrader : looks like a down step
ladder
[09:12 am] reshef :
SCO
[09:13 am] apple : has been
bearish along with GOOG since
october
[09:13 am] scalpman : Time
To go…a great trading day 6/7…UBNT, MRX,
ACIW, and MCP to name a few.
[09:14
am] scalpman : TS scanner proved to be
valuable today…
[09:14 am] Ed : nice
going scalp
[09:14 am] apple : great
job scalp, have a fun weekend
[09:14 am]
scalpman : Thanks Ed….see you monday.
Bye guys!
[09:14 am] scalpman :
…and gals!
[09:14 am] scalpman :
ha
[09:14 am] ticktrader : Scalpman
we will have to exchange notes on the TS
scanner
[09:14 am] qwert : bye scalp
have a great weekend
[09:15 am]
scalpman : See qwert
[09:15 am]
scalpman : see ya
[09:17 am]
elisha : bye scalp
[09:18 am] Ed :
hey taco u see the videos about the 8year old
girl that plays football
[09:18 am]
apple : she is amazing
[09:18 am] Ed
: and fast
[09:19 am] apple :
football is not just for boys,
apparently
[09:20 am] apple : nice
pop on HaIN
[09:20 am] joeytsa :
yeah i saw her
[09:21 am] Ed : I would
mute the music
[09:21 am] Ed :
http://www.youtube.com/watch?v=mb3FkyJ5qTs
[09:25 am] mikewd2 -: nice Ed, supposedly
FSU is looking to offer scholarship
[09:25
am] Ed : 🙂
[09:26 am] mikewd2 -: AAPL,
new hod
[09:26 am] eyes : CL on the
move
[09:28 am] sman : MRX
[09:28
am] doji : Have been waiting on a pull
back but it seems most stocks won’t look back
today… will wait until Monday
[09:28 am]
mikewd2 -: those 540 calls doji are now over
13
[09:31 am] apple : wow good one
mike
[09:31 am] doji : YEs, left 50%
on the table…. dang
[09:32 am] mikewd2
-: i left more than half
[09:32 am]
taco : hey ed, just got
back..
[09:32 am] apple : what did
you get them for, mike?
[09:32 am] mikewd2
-: i bought 540 calls as low as 2.30 this
morning
[09:32 am] joeytsa : thats
why its a bad habit to go back and look
sometimes
[09:32 am] mikewd2 -: i know
joey
[09:32 am] apple : smart
guy
[09:32 am] joeytsa : we all do
it though haha
[09:32 am] mikewd2 -:
apple, i dumped them at 4.60 from
2.30
[09:33 am] joeytsa : traders
are never happy unless they can buy at the
exact bottom and sell at the exact
top
[09:34 am] taco : is she related
to you ed?
[09:34 am] Ed : no, alot of
teams could use her though
[09:34 am]
taco : wow ya
[09:35 am] doji
: I bough this morning APPL 585 calls weelkly
next week at 1.19, now 1.65
[09:35 am]
apple : that was still a great profit,
or you could have sold half
[09:35 am]
apple : good one doji
[09:35 am]
mikewd2 -: AAPL at pivot
[09:36 am]
doji : It will break that pivot
Mike…. peopke just getting nuts at
APPL
[09:37 am] mikewd2 -: I’ve given back
some money tried puts a couple
times
[09:37 am] doji : especially
after that drop from $700
[09:38 am]
joeytsa : either that or setting up a
nice short entry area
[09:44 am]
joeytsa : not trading it yet, but WTW
just lost its support ma’s
[09:50 am]
regatta : KYAK
[09:51 am] doji
: Was not bought by PCLN?
[09:52 am]
joeytsa : thought they were
[09:52
am] shark : yes
[09:53 am]
shark : AAPL testing R1
[09:54 am]
doji : It will break that also
Shark
[09:54 am] shark :
😉
[09:55 am] joeytsa : break here
should get it to $560
[09:55 am]
joeytsa : $570ish looks to be some
trendline res
[09:57 am] joeytsa :
PHH spike up
[09:58 am] joeytsa :
about 60cents
[09:59 am] shark :
doji, you catch any of the move in
TOL?
[10:00 am] shark : KBH was good
too, nicer chart
[10:03 am] doji :
No
[10:04 am] shark : housing stocks
are you other baby, doji.
[10:12 am]
doji : SPY pulling back… is Obama
speaking?
[10:12 am] shark :
yes
[10:12 am] qwert : Monitoring
PVH
[10:13 am] shark : KORS, LULU
too
[10:13 am] joeytsa : tighten PHH
if short
[10:15 am] aussie123 : LOOK
OUT Obama on TV
[10:15 am] shark :
australia tv too, aussie?
[10:16 am]
aussie123 : NO… i live in
Phoenix
[10:16 am] shark : hahaha
🙂
[10:19 am] joeytsa : ES popped
too
[10:21 am] shark : nice one,
Mitch
[10:22 am] shark :
🙂
[10:22 am] murano : Have a good
weekend, see ya’ll Monday
[10:22 am]
joeytsa : “looking for a round
bottom”
[10:23 am] shark : lod in
LIFE 😉
[10:23 am] joeytsa : you too
murano..nice calls
[10:23 am] taco :
c ya murano
[10:23 am] shark : bye
murano
[10:23 am] Ed : c ya
murano
[10:23 am] qwert : cya murano
have a great weekend
[10:23 am]
elisha : I thought it was funny when
you posted “monitoring Ed”. I wanted to
post back, “why? what’s he doing?”
[10:23
am] shark : keep up the good
work
[10:23 am] apple : have a great
weekend murano
[10:23 am] Mitch K: well i
was laughing on that post too for another
meaning elisha
[10:24 am] elisha :
ok, i’ll bite – what other meaning?
[10:24
am] Ed : its the power company ED
[10:24
am] doji : Markets dropping
[10:25
am] joeytsa :
http://www.washingtontimes.com/blog/watercool
er/2012/nov/8/picket-companies-plan-massive-l
ayoffs-obamacare-be/
[10:25 am]
shark : thx, joey
[10:26 am]
joeytsa : also read somewhere that 45
companies have already given 60day layoff
notices due to 0care
[10:26 am]
elisha : Ed, I know it’s a company, but
I naturally thought of you!
[10:26 am] Ed
: ahh how sweet
[10:26 am] doji :
Ouchhh….Ed the man!
[10:26 am]
doji : Mrs. Mood………
[10:26 am]
Ed : shhhhhh
[10:27 am] joeytsa :
yeah, wasnt the ceo on cnbc the other
day
[10:27 am] elisha : don’t get
verklempt – the application was
“monitoring”
[10:27 am] Ed : oh good
point
[10:27 am] joeytsa : also
heard an estimate of 700k jobs will be
lost
[10:27 am] qwert : CL
dropping
[10:28 am] shark : don’t
know how Obama can create jobs, when states
like CA do good enough job being
anti-business
[10:28 am] qwert : CL
12-12
[10:28 am] joeytsa : the jobs
not cut will get dropped to below
28hrs
[10:28 am] shark : good point,
joey
[10:29 am] joeytsa : ES lost
1380..big swings
[10:29 am] joeytsa
: is this traders saying a collective ” BS
“
[10:30 am] shark : yup!
[10:30
am] shark : Traders just need a
trend
[10:30 am] shark : we don’t
care which way
[10:33 am] qwert :
news on dtg, htz?
[10:33 am] joeytsa
: lunchtime..see you all in 30
[10:33 am]
shark : c ya joey
[10:34 am]
apple : look at hertz go
[10:36 am]
apple : bye joey have fun
[10:37 am]
apple : down
[10:38 am] qwert
: CAR going higher
[10:38 am] eyes :
is there a bar timer for TS
[10:39 am]
sman : CAR spike up
[10:42 am] Ed :
not sure eyes
[10:42 am] shark : CMG
testing lod
[10:46 am] mikewd2 -: nice 8pt
drop in AAPL over last hour
[10:46 am]
apple : yeah
[10:46 am] shark
: 🙂
[10:47 am] mikewd2 -: apple, on your
option strategy – how many contracts are you
doing?
[10:48 am] apple : i had done
5 in one account and 10 in another
[10:48
am] mikewd2 -: ok
[10:48 am] mikewd2 -:
need to look into that play
[10:49 am]
shark : 😉
[10:49 am] apple :
do it on paper and just watch, in TS you can
have theoretical trades running
[10:52 am]
Ed : mike sold his cattle so he could bid on
the picasso art
[10:52 am] qwert :
hahaha
[10:53 am] apple : but mike
is not laughing
[10:54 am] Ed : he
probably lost the bid
[10:59 am]
eyes : Have a awesome weekend
everyone
[11:00 am] qwert : cya
eyes have a great weekend
[11:01 am]
Ed : c ya eyes
[11:01 am] taco :
beyes
[11:01 am] qwert : Ed are u
still in HTZ
[11:02 am] Ed : yes just last
1/4
[11:02 am] qwert : was curious i
exited full instead of 3/4 like
normal
[11:03 am] Ed : i do that alot
also
[11:03 am] qwert : where are u
trailing your stop at?
[11:04 am] Ed :
right behind 20sma
[11:04 am] qwert
: on 1 min?
[11:04 am] Ed : yes
[11:06
am] qwert : do u ever split the last
1/4
[11:06 am] Ed : never
[11:06 am]
qwert : always stop or still use a
tgt
[11:06 am] sman : OMPI spiking
up
[11:07 am] Ed : i make that last 1/4
fun so sometimes use tgt other times
trail
[11:07 am] qwert : so what r u
doing this time
[11:07 am] Ed :
trail
[11:08 am] Ed : trial until i get
stopped
[11:08 am] qwert : right
okay thx
[11:12 am] apple :
V
[11:13 am] joeytsa : thank you for
the email apple 🙂
[11:14 am]
apple : np, V just shot up
[11:15
am] qwert : i want to get an email from
apple 🙁
[11:16 am] apple :
np, COST
[11:16 am] joeytsa : only
prob with that is that the check she send via
email is scanned 🙂
[11:16 am] qwert
: haha
[11:17 am] apple :
haha
[11:19 am] apple : nice drop on
V
[11:19 am] joeytsa : V was too
quick for me
[11:19 am] joeytsa :
nice call though
[11:20 am] apple :
joey you’re slowing down!
[11:20 am]
joeytsa : more conservative
🙂
[11:20 am] joeytsa : fading those
really fast ones is my weak area
[11:21
am] apple : i thought you liked
those
[11:21 am] joeytsa : i usually
do better jumping on a continued
move..catching the run early
[11:21 am]
apple : ok
[11:22 am] joeytsa
: that gave no signal ( building momentum ),
it just jumped on high vol…Ed does well
with the setup that V had
[11:22 am]
apple : right
[11:23 am]
joeytsa : had there been a couple of
slightly higher vol green candles, plus it
sitting on the whole # ( $142) ,might have
been a play
[11:23 am] apple :
agree
[11:24 am] joeytsa : not even
sure i would have caught a cup breakout at
142.50 with how quick it shot
[11:26 am]
apple : right, would have had to be
looking at it
[11:26 am] joeytsa :
yeah
[11:29 am] qwert : Lakers fire
Mike Brown
[11:29 am] joeytsa : LNKD
keeps hitting my scanner, not seeing anythign
yet, but will keep the chart up
[11:30 am]
ticktrader : I was expecting firing of
Mike Brown. They need Phil Jackson
back.
[11:31 am] joeytsa : i used to
see Phil Jackson coach for $5 when he was
coach of the Albany Patroons of the CBA
league
[11:33 am] ticktrader : HOw
long ago was that?
[11:33 am]
joeytsa : the ES is at the pp
[11:33
am] joeytsa : back in the
1980’s
[11:33 am] joeytsa :
albany,ny
[11:34 am] joeytsa : any
idea if monday will be slower volume due to
veterans day…i cant remember last
year?
[11:35 am] apple : the schools
have off and i don’t know about the banks,
etc. may be lower volume day
[11:37
am] joeytsa : bank holiday, no
settlement day
[11:38 am] apple : i
am sure government offices also
closed
[11:39 am] joeytsa : correct,
fed holiday..banks,post office
closed
[11:41 am] apple : then i
will take this opportunity to thank all our
veterans and those in service
[11:43 am]
joeytsa : definately
[11:44 am]
joeytsa : ES pulling back to
pp
[11:44 am] joeytsa : might test
1380 support
[11:51 am] joeytsa :
PANL vol spike
[11:58 am] klas : Any
vets in the room?
[11:58 am] klas :
Veterans
[11:59 am] klas : what
happend to Rusty
[11:59 am] apple :
he’s gone klas
[11:59 am] klas :
were too
[12:00 pm] apple : just not
here
[12:01 pm] joeytsa : just read
that Petraeus resigned
[12:03 pm] mikewd2
-: was he tired of fighting with
Obama?
[12:03 pm] joeytsa : stated
extra-marital affair
[12:03 pm]
joeytsa : so yes haha
[12:03
pm] mikewd2 -: with Obama – haha
[12:04
pm] mikewd2 -: dang , dumped my AAPL puts too
early
[12:04 pm] apple :
MUC
[12:07 pm] ticktrader : apple
what scanner did you use for MUC?
[12:09
pm] apple : saw it on etrade
hi/lo
[12:10 pm] ticktrader :
TKS
[12:11 pm] ticktrader : I meant
thank you
[12:11 pm] apple :
np
[12:11 pm] joeytsa : AAPL forming
a h/s type pattern
[12:12 pm] shark
: on intraday, joey?
[12:12 pm]
joeytsa : break down could net
5-10pts
[12:12 pm] joeytsa : on the
1min..sorry
[12:12 pm] shark : was
nice at 550.50 level
[12:12 pm]
joeytsa : yeah, lower high to short
into
[12:13 pm] joeytsa : so easy to
see now haha
[12:14 pm] mikewd2 -:
if i noticed the h/s would have held my puts
closer to close
[12:16 pm] joeytsa :
its funny, when you look at a chart, how many
patterns you see..always more than
1
[12:17 pm] shark : yeah,
joey
[12:17 pm] shark : mike, you
had today expiry puts, AAPL?
[12:17 pm]
mikewd2 -: and calls
[12:18 pm] mikewd2 -:
traded both several times
[12:18 pm]
shark : 🙂
[12:18 pm] shark :
DDD had pocket pivot yesterday, nice vol
today, too
[12:18 pm] mikewd2 -: looks
like AAPL wanting to settle in that 545
area
[12:19 pm] joeytsa : neckline
area
[12:19 pm] shark : not much
price progress relative to vol on
daily
[12:20 pm] mikewd2 -: and 545.61 is
pivot on my chart
[12:20 pm] joeytsa
: i have one at 544,68 and it just bounced
off it
[12:20 pm] shark : 545.117 my
PIVOT on AAPL
[12:21 pm] mikewd2 -:
difference in floor traders and
Camarilla
[12:21 pm] joeytsa : thats
why i said 545 area..price can over/under
shoot
[12:21 pm] shark : thought
math should be same for pivot #
[12:21 pm]
shark : ??
[12:21 pm] joeytsa
: TS pp’s are a bit different
[12:21 pm]
mikewd2 -: different math guys
[12:22 pm]
mikewd2 -: different formulas
[12:22 pm]
joeytsa : hate the way they work on the
open
[12:22 pm] joeytsa : esig’s
worked great
[12:23 pm] joeytsa :
one day i will trade mainly on price
action..wont need all these lines
haha
[12:24 pm] apple : shark, my
pivot was 545.12 on TS close enough
[12:24
pm] shark : yeahhhh! 🙂
[12:24 pm]
apple : joey did you take ken’s
webinar
[12:25 pm] joeytsa : i have
seen a few of them
[12:25 pm]
joeytsa : looks like $23.90 is some res
on PANL
[12:25 pm] apple : no, did
you sign up for his course, i have seen a
couple as well
[12:26 pm] joeytsa :
no, just the free stuff
[12:26 pm]
apple : oh, ok
[12:27 pm]
joeytsa : i find it strange that he
seems to be really good…but can only trade
low # of shares
[12:29 pm] apple : i
didn’t get that either
[12:29 pm]
joeytsa : we all have our “breaking
point” i guess
[12:31 pm] jsn13 :
most of his materials overlapped…but he
always says that they r brand
new…
[12:31 pm] klas : Have a
great weekend traders see you next
week
[12:31 pm] joeytsa : but now i
hear him on his weekly update ” he shoots, he
scores”…and i know that his 2pt move made
him $45 🙂
[12:31 pm] Ed : c ya
klas
[12:31 pm] jsn13 :
hahahaha….
[12:31 pm] joeytsa :
bye klas
[12:31 pm] Ed : lol
[12:31 pm]
taco : bye klas
[12:32 pm]
shark : bye klas…
[12:32 pm] Ed :
and u see why he may trade 100 to 300 stocks
a day
[12:32 pm] joeytsa :
exactly…but that makes no sense to
me
[12:32 pm] klas : Joey traying to
go to the trader expo nest week and hook up a
shark for lunch i will let you know
[12:32
pm] joeytsa : but thats just
me
[12:32 pm] joeytsa : sounds
good..shoot a message
[12:33 pm]
shark : yes, joey…
[12:33 pm] Ed :
right strangely enough thats his comfort
zone
[12:33 pm] klas : Thursday is
my best day
[12:33 pm] joeytsa :
yeah, its wierd because he seems to pick
decent stocks
[12:33 pm] qwert :
sounds like he needs to get just a little
outside his comfort zone
[12:33 pm]
joeytsa : and has his pattern
recognition down
[12:33 pm] apple :
i would rather trade just a few with more
shares if the setups meet the
criteria
[12:34 pm] apple : agree
ed, qwert, joey
[12:34 pm] joeytsa :
same here apple
[12:34 pm] jsn13 :
quality rather than quantity…
[12:34 pm]
jsn13 : but well it’s his
style…
[12:34 pm] joeytsa :
thankfully its not mine haha
[12:34 pm]
qwert : i was gonna say its his
livelihood
[12:35 pm] qwert : wow
think that spelling is wrong
[12:35 pm]
joeytsa : hard enough making money
using 100 shares, much less scaling up to
100 🙂
[12:35 pm] qwert :
hahaha
[12:35 pm] joeytsa : but, it
works for him
[12:36 pm] qwert :
guess depends which stock 100 brk.a
?
[12:36 pm] joeytsa : try that
using schwab
[12:36 pm] jsn13 :
anyone here practices his method?
[12:37
pm] joeytsa : most here in the room
probably dont remember $19.95 was an amazing
commission rate
[12:37 pm] jsn13 :
his breakout strategy for day trading i
mean….
[12:37 pm] shark : I used
to pay at least $139 each way
[12:37 pm]
joeytsa : i like his cup
breaks
[12:37 pm] shark : and that
wasn’t Southwest LA to Florida
[12:37 pm]
joeytsa : haha
[12:38 pm]
apple : nice one shark
[12:38 pm]
jsn13 : do u think that 10 cent stop is
to tight sometimes?
[12:38 pm]
ticktrader : Have a great
weekend
[12:38 pm] shark : bye
tick
[12:38 pm] joeytsa : we are
blessed with what we have technology/pricing
now
[12:38 pm] mikewd2 -: nice 4pt bear
cup on AAPL in lasst 20 minutes
[12:38 pm]
joeytsa : yes jason
[12:38 pm]
shark : yes, joey…modern life
becoming more efficient in many
ways
[12:38 pm] joeytsa : unless you
are already in the profit zone
[12:38 pm]
joeytsa : mentioned b4 that i used to
trade with no charts
[12:39 pm]
reshef : AEE
[12:41 pm]
joeytsa : jsn: i also find 10cent stop
to be much too tight the higher the stock is
in price
[12:41 pm] joeytsa : or if
any priced stock makes candles more than
10cents in size
[12:42 pm] Ed : thats why
i like playn support/res levels it gives u
good r/r based on price of stock
[12:42
pm] joeytsa : yep
[12:42 pm] Ed : be
it $1 or 700
[12:42 pm] joeytsa :
and sometimes it also depends on your price
target
[12:42 pm] apple :
agree
[12:43 pm] joeytsa : if you
expect a $4 move like AAPL, you cant
have a 10cent stop
[12:43 pm] apple
: uh, no
[12:43 pm] Ed : i shoot for the
moon or starts, wait which is
farthest
[12:43 pm] joeytsa : you
can, but you will probably get hit
[12:43
pm] jsn13 : my 10 cent stop argument is
based on ken’s context of him trading
stocks with price between 20-70
bucks…
[12:44 pm] jsn13 : but
still sometimes u will still be stopped out
with thta 10-15cents stops bcos of the
fluctuations…
[12:44 pm] jsn13 :
he said it’s dump to have 20 cents stops or
more….
[12:44 pm] joeytsa : i dont
like that at entry, but if the trade is in
profits, nothing wrong with protecting
it
[12:45 pm] apple : i would think
with a 10 cent you would probably get stopped
out a lot
[12:45 pm] jsn13 : and
thats for entry…
[12:45 pm] jsn13
: ya but he said 1% stop is just too
wide….all the PROS dont do like
that…
[12:45 pm] jsn13 : im not
sure how he money then…
[12:46 pm]
joeytsa : also, as your daily profits
grow, you can give yourself a bit more
leeway
[12:46 pm] jsn13 : *makes
money
[12:46 pm] jsn13 : but he said
it is not profesional…
[12:46 pm]
joeytsa : ES back over 1380
[12:47
pm] jsn13 : so im not sure how im going
to practice his strategy…
[12:47 pm]
jsn13 : not sure if i have
misunderstood his message….
[12:47 pm]
Ed : u have to adapt or want to adapt things
to fit you
[12:47 pm] joeytsa : i
just look at his patterns
[12:48 pm]
joeytsa : good point Ed
[12:48 pm]
apple : right E
[12:48 pm]
joeytsa : again, with his small share
size, he could use a wider stop..but he has
his own style
[12:48 pm] jsn13 : i
do that…just not sure how he can make money
with that tight stops….
[12:48 pm]
joeytsa : who cares how he makes
money
[12:49 pm] Ed : hard to be exactly
like another trader, u never know fullness of
whats in another traders mind
[12:49 pm]
apple : follow the pattern jsn, not the
stops… do your own thing
[12:49 pm] Ed :
dont worry how he makes money, just like joey
never worries how I make money, it wil drive
u crazy
[12:50 pm] Ed : just
saying
[12:50 pm] joeytsa : i worry
abotu you Ed 🙂
[12:50 pm]
jsn13 : no worry i was just
curious….
[12:50 pm] joeytsa :
pizza delivery can be dangerous in the
hood haha
[12:50 pm] Ed : HOw will
it help ur trading
[12:50 pm] qwert
: we all want to be like you Ed
[12:50 pm]
Ed : cool
[12:51 pm] jsn13 : maybe
he has a way to have smaller losses….who
knows….maybe i did not fully understand his
method….
[12:51 pm] Ed : see the other
thing with ken, that many forget is that he
puts on a ton of pilot trades
[12:51 pm]
joeytsa : higher lows, lower highs, dbl
tops and bottoms etc..find patterns that make
sense to you
[12:51 pm] joeytsa :
yeah, a lot of them
[12:52 pm]
joeytsa : my guess is he adds to the
winners and cuts the losers/stagnent ones
quick
[12:52 pm] jsn13 : im good
with my style…i know exactly what i
want…..just that i attened his coruse and
not sure how i can benefit from
there….
[12:52 pm] jsn13 : so
since most of u took his course i wanna check
if i got the wrong message…
[12:52 pm]
Ed : so on that say $1500 position he
will stop it if it goes to $1495
[12:53
pm] jsn13 : u know im too slow in
learning….i asked the same questions like
10 times….
[12:53 pm] Ed : but if it
increase to $1515 he will add
[12:53 pm]
jsn13 : ya i got his idea…add on
strength….
[12:53 pm] Ed : thats the
math on $30 stock of 50 shares
[12:54 pm]
jsn13 : thank u all for
advices….
[12:54 pm] joeytsa : to
me that works better on swings, than quick
scalps like we get here..25cent moves, 40cent
moves etc
[12:54 pm] jsn13 : i like
learning from successful traders, cos u guys
have proven successful recipe for
trading….
[12:55 pm] Ed : but what u do
jsn, is the things u here u may like from say
2 good traders, apply it in sim, tweek se
what works, what does not, and after a while
u have ur own style
[12:55 pm]
joeytsa : to me it always goes back to
“where is my profit target”
[12:55 pm] Ed
: here=hear
[12:56 pm] joeytsa :
Thanks Mitch,Ed, everyone..hope you all have
a great weekend
[12:56 pm] Ed : c ya
joey
[12:56 pm] jsn13 : ya
understand ed….thank u for ur
advices….
[12:56 pm] taco : c ya
joey
[12:56 pm] jsn13 : bye
joey….
[12:56 pm] Ed : and write it
down, as u try new things, u dont want to
forget
[12:57 pm] joeytsa : good
advice Ed, otherwise you walk back and forth
over teh same path
[12:57 pm] qwert
: bye joey have a great weekend
[12:57 pm]
jsn13 : ya i have a journal…. it
helped me alot…
[12:57 pm] Ed : I speaky
from experience
[12:57 pm] qwert :
bye everybody cya all next week
[12:57 pm]
jsn13 : that trading plan is really
effective…
[12:58 pm] taco :
thanks d, Mitch and ell c you
monday
[12:58 pm] taco :
Ed
[12:58 pm] jsn13 : thank u guys
for the calls and advices….
[12:59 pm]
reshef : Have a nice weekend
[12:59
pm] shark :
http://ireader.olivesoftware.com/Olive/iReade
r/IBDD25/SharedArticle.ashx?document=iIBD%5C2
012%5C11%5C07&article=Ar00400
[01:
00 pm] shark : article on 3D
printers
[01:00 pm] shark : the new
technology
[01:00 pm] shark :
becoming very efficient and quick
[01:00
pm] shark : you can order parts over
the internet, and they will send blue print
to your 3d printer to print it out
[01:01
pm] apple : all have a wonderful
weekend. thx everyone, MK and
E
[01:01 pm] shark : bye
apple
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