[06:01 am] Ed : good morning traders
[06:25 am] Kris : good morning
[06:25 am] Kris : On the short side I’m
watching FII, RMD, ROVI, PAA, ONE and
LNKD.
[06:25 am] Kris : This morning I’m watching
CRI, DUK, KSU and DRI for possible long
trades
[06:28 am] Brent : good morning
[06:31 am] Kris : GMCR short half
[06:31 am] Mitch K: DRI should have quick
bounce
[06:32 am] Kris : JPM short half
[06:32 am] Mitch K: CF worth short, late
already
[06:34 am] Kris : YNDX short half
[06:34 am] Mitch K: watching IP for bottom to
buy
[06:36 am] Kris : out half GMCR short
[06:36 am] Mitch K: consider selling DRI
above 43.50+
[06:36 am] Mitch K: OSG short soon, waiting
for rebound, for better price to short
[06:37 am] Mitch K: watching for bottom in
GMCR
[06:38 am] Mitch K: watching CREE for top, be
patient
[06:40 am] Mitch K: Looking for quick pop in
LVS and then possible short
[06:41 am] Ed : watching INHX
[06:42 am] Kris : looking for new lod in
JPM
[06:42 am] Kris : out another 1/4 GMCR
short
[06:42 am] Mitch K: consider covering OSG if
short. normal procedure is to short half
position even if late and wait for rebound to
fill other half
[06:43 am] Brent : watching LLY for a
short
[06:44 am] Ed : reduce INHX here
[06:47 am] Ed : out more INHX
[06:47 am] Mitch K: consider covering CF
[06:48 am] Mitch K: good habit to wait for
GMCR to have extreme moves before reversing
trade, still watching for bottom to buy,
soon
[06:49 am] Ed : consider covering INHX
[06:52 am] Mitch K: mkt small bounce
[06:54 am] Kris : out half JPM short
[06:58 am] Mitch K: watching for top in
DWA
[06:59 am] Mitch K: consider selling LVS if
long, watching for 2nd helping short
[07:00 am] Mitch K: Dreamworks moves up on
renewed takeover chatter
[07:00 am] Mitch K: VMC rumor
[07:04 am] Mitch K: buyout rumors advanced
trade, DWA looks toppy, VMC looks hot but
best to go in incremental orders
[07:06 am] Brent : SPY at trendline
resistance
[07:07 am] Mitch K: watching FNSR for
short
[07:08 am] Mitch K: my bias seems to be on
the short side early in the session with very
selective long scalps; as long as it keeps
working I keep “rinse and repeating”
[07:10 am] Mitch K: NBR rumor
[07:10 am] Mitch K: watching LQDT, Liquidity
Services for short
[07:12 am] Brent : careful with LLY, not
acting right
[07:12 am] Mitch K: no hurry on the LQDT
short, sort of hot right now
[07:19 am] Mitch K: projector not working.
use your own charts as always. buyout rumor
pattern ideal with DWA this morning, VMC also
part of bo rumor scenario
[07:21 am] Brent : NFLX at lod[07:21 am]
Mitch K: i just don’t care for LLY short
trade or long trade
[07:22 am] Kris : SPRD short half
[07:22 am] Mitch K: consider reducing the DWA
short
[07:23 am] Mitch K: i can feel you want 3 DWA
shorts a day, i hear you guys
[07:24 am] Mitch K: consider covering FNSR,
only 20 cents but on 16.50 stock over 1%
[07:26 am] Mitch K: VMC toppy
[07:36 am] Mitch K: those are two different
scenarios in the buyout rumor. DWA peaks and
goes down in one motion, VMC has an initial
move up, smaller correction and then higher
high, then 2nd correction. eventually
though, pulls back lower on the 2nd or 3rd
pullback
[07:44 am] Kris : out half SPRD
[07:54 am] Kris : out another 1/4 SPRD
short
[07:57 am] Kris : out all SPRD short
[08:01 am] Kris : we should get a bounce in
the SPY here soon, see if we get a lower
high, could setup for a test of the lod
soon.
[08:06 am] Kris : so far weak bounce in SPY,
feeling like more selling could be on the
way.
[08:33 am] Mitch K: the DWA buyout rumor is
the ideal chart pattern but most don’t behave
exactly like that. most of them are in
between DWA and VMC chart
[08:39 am] Mitch K: ok you guys can cover DWA
now, lol. went all the way back down from
the start, very unusual
[09:11 am] Ed : watching CRK
[09:43 am] Mitch K: DNDN halted
[10:06 am] Mitch K: DNDN open
[10:18 am] Mitch K: small buy program
[10:33 am] Mitch K: CRK trending up
[10:33 am] Mitch K: projector not working, as
you already figured out
[10:41 am] Ed : be back in 30
[11:31 am] Brent : SPY approaching hod[12:01
pm] Kris : look for a shallow pullback in the
SPY here with some consolidation under the
hod. we could get one more run to the high
side into the close.
[12:02 pm] Kris : careful trading reversals
this late in the day.
[12:02 pm] Kris : I like to stay selective
waiting for the big moves to fade
[12:37 pm] Mitch K: i just don’t see a thing
interesting. slowest day in a while
[12:55 pm] Mitch K: no time for a long but
just watching end of day selling
[01:00 pm] Brent : Have a good night, see you
in the morning
[01:01 pm] Kris : Goodnight everyone. see
you all tomorrow morning.
[01:01 pm] Mitch K: i love this type of chart
on the right, the SPY. great chart pattern
but too late today
[01:02 pm] Ed : good night
|
[06:03 am] joeytsa : IBD/TIPP econ outlook
at 7am pst[06:05 am] joeytsa : gap up: MMM
still early though
[06:06 am] joeytsa : gap down: AMZN,SINA,DRI
that’s all I have for now doji 🙂
[06:07 am] joeytsa : more gappers popping
up, still early
[06:08 am] mh : joey where are you going to
find the gap ups and downs?
[06:08 am] joeytsa : watching LO as possible
swing
[06:08 am] joeytsa : mh: cnbc ticker,
nasdaq site, rttnews.com ‘before the bell’
link
[06:09 am] joeytsa : mh: also, many
platforms have built in scanners…which one
do you use?
[06:09 am] mh : td ameritrade think or
swim
[06:14 am] mikewd2 -: garyb, you use any of
the strategy setups from tradestation on your
trading?
[06:16 am] mh : joey are you going to do
anything with sina at the open
[06:16 am] garyb : hey mike…..not
yet…just getting into it…..what I did was
set up everything really nice for my own
trading..I love it. But I have not
investigated the strategies yet
[06:16 am] joeytsa : i was checking out
tradestation yesterday, looks nuts
[06:17 am] Ed : it does have many bells and
whistles
[06:21 am] joeytsa : mh: SINA is stuck
between its prev cl and S1, gapping down a
bit, might watch to see the 1st move and then
go from there
[06:22 am] doji : DRI, SINA, AMZN are gap
down
[06:23 am] Ed : how is reading coming along
richard?
[06:23 am] garyb : I bought me some FAS this
morning…already making serious
coinage..might be time for lunch for me soon!
lol[06:23 am] richard : I finished it last
night!!!!!!
[06:23 am] Ed : that’s great
[06:23 am] lightning : Doji, DRI, FIO, KNXA
, MTL as gap downs
[06:24 am] richard : ready for more :))
[06:24 am] joeytsa : nice wide swing on the
ES last night 1245-1262 areas
[06:24 am] doji : Gary you said you bought
FAS?
[06:24 am] garyb : yes
[06:25 am] garyb : in the green now doji…a
little pre market action
[06:25 am] joeytsa : FIO just got a quick
pop
[06:25 am] doji : Hope close to 64.5 Gary
[06:25 am] mikewd2 -: i was just buying FIO
joey, funny and it jumped 70 cents on me
[06:27 am] joeytsa : AZO gapping up on
earnings, missed that nice run into
earnings..not the biggest volume stock
though
[06:28 am] garyb : yes doji…64.50
[06:34 am] garyb : IN DRI
[06:34 am] joeytsa : WFM moving up will look
for a top
[06:34 am] mhaus : OSG
[06:35 am] joeytsa : MELI made a move
[06:36 am] apple : very nice on MELI
[06:37 am] joeytsa : SINA closed small
gap
[06:37 am] joeytsa : nice one Kris
[06:38 am] joeytsa : out MELI l
[06:38 am] joeytsa : watching for a top in
MELI or breakout i guess
[06:40 am] garyb : watching MCD!
[06:41 am] apple : SODA
[06:42 am] garyb : MCD may be bouncing
here
[06:42 am] joeytsa : s MELI, wont risk
much
[06:42 am] mhaus : PPO
[06:43 am] garyb : in MCD with a tight
stop
[06:43 am] joeytsa : out half MELI
[06:43 am] lightning : LNG dropping hard
[06:43 am] garyb : go baby go! MCD!
[06:44 am] joeytsa : stopped last half
MELI
[06:45 am] derns : TZA
[06:46 am] joeytsa : will watch MELI for
next signal, maybe a break to nh[06:46 am]
joeytsa : ES testing lows
[06:46 am] mhaus : HAL
[06:47 am] doji : 1/2 out JPM from 33.19,
thanks Kris
[06:47 am] joeytsa : FOSL trending down
[06:47 am] joeytsa : NFLX giving it up
[06:47 am] mikewd2 -: LNG
[06:47 am] doji : ONE turning up
[06:48 am] garyb : out MCD…took profits
and ran…but I am probably too early as ind.
still up
[06:48 am] apple : nice on FOSL
[06:48 am] joeytsa : don’t need tops/bottoms
garyb[06:49 am] joeytsa : so far come decent
support around 1252 on the ES
[06:50 am] doji : out 1/2 JPM
[06:50 am] qwert : Ed thx for inhx[06:50
am] joeytsa : MELI hod[06:50 am] delux : i
am stuck in IP long
[06:50 am] joeytsa : stuck?
[06:51 am] delux : no move
[06:51 am] joeytsa : got ya[06:51 am] apple
: thx E, nice call on INHX
[06:51 am] lightning : L 1/2 GMCR
[06:52 am] doji : It could drop in the SPY
reverses Delux[06:52 am] doji : Weak rebound
in the SPY
[06:52 am] joeytsa : taking small profits on
MELI
[06:52 am] joeytsa : don’t trust this up
move
[06:52 am] garyb : lightning..keep on eye on
GMCR….tight stop buddy
[06:52 am] apple : BIDU lod[06:53 am]
joeytsa : BDU just touched S1 apple
[06:53 am] eyes : Brent you still
considering lly[06:53 am] garyb : this is a
head fake maybe
[06:54 am] joeytsa : LULU weak
[06:54 am] sfarrill : no head fake on 3m
[06:54 am] doji : Watching HAL
[06:54 am] apple : below S1 on LULU
[06:54 am] Brent : yes eyes, resistance at
$39 on LLY. Will watch it at that area
[06:55 am] mikewd2 -: HAL destroyed evidence
allegedly on spill
[06:56 am] mikewd2 -: go LNG!!!
[06:57 am] skydiver : DWA – take over
chatter
[06:58 am] apple : nice move on LNG mike
[06:59 am] mikewd2 -: out LNG
[06:59 am] joeytsa : GS making moves
up$1,down $1, up$1
[07:00 am] joeytsa : i like those moves
[07:00 am] joeytsa : VMC quick move
[07:00 am] mhaus : VMC rumor
[07:00 am] joeytsa : should get toppy
soon
[07:01 am] garyb : Watching HAL
[07:01 am] apple : nice move on VMC
[07:02 am] delux : rumor means for short?
[07:02 am] mhaus : rumor means news of
takeover rumor
[07:02 am] apple : brcm[07:03 am] delux :
thank you all
[07:03 am] doji : VMC moving
[07:04 am] lightning : S LLY
[07:04 am] joeytsa : thanks Mitch
[07:04 am] doji : R2 = 34.61
[07:05 am] delux : i short LLY a bit
earlier
[07:05 am] apple : i have 34.60
[07:05 am] doji : Agggh, missed VMC…
[07:06 am] mhaus : LQDT
[07:06 am] joeytsa : i didn’t catch the VMC
news
[07:07 am] mikewd2 -: Vulcan Materials moves
up on renewed takeover chatter
[07:08 am] anthonyb : What happened to
JOYG?
[07:08 am] lightning : out rest of GMCR
long
[07:08 am] joeytsa : anyone catch any of
that AZO move either way?
[07:09 am] eyes : S lly 38.75
[07:10 am] joeytsa : anthony: i don’t know,
not getting a quote?
[07:10 am] joeytsa : re; JOYG
[07:10 am] anthonyb : nope
[07:10 am] joeytsa : weird
[07:10 am] anthonyb : how about you? do have
data on JOYG
[07:11 am] joeytsa : CLF, another one that
keeps giving nice profit moves
[07:12 am] apple : joey did you catch that
down move on GS – very nice
[07:12 am] joeytsa : no, was switching too
much
[07:12 am] lightning : I agree, I closed 1/2
LLY and have a tight stop on the rest
[07:13 am] joeytsa : trust me, that habit
will be broken in the next few weeks 🙂
[07:13 am] neel : Brent what is your stop on
LLY?
[07:13 am] lightning : covered 1/2 DWA
short
[07:14 am] joeytsa : tighten stop on MELI if
short
[07:14 am] Brent : 38.82 on LLY neel[07:15
am] lightning : I’m out rest of LLY
[07:19 am] joeytsa : time lag buying on
VMC?
[07:19 am] doji : LQDT still moving up
[07:19 am] joeytsa : nice little bucket drop
on VMC 🙂
[07:20 am] joeytsa : yeah doji: trying to
close that gap
[07:20 am] doji : Pivot at 35.06
[07:20 am] apple : i like those pivots, joey
and doji – very helpful
[07:21 am] qwert : does anybody use the
pivots in esignal?
[07:21 am] joeytsa : they rock, especially
when you also use ma’s and stochs[07:21 am]
anthonyb : yes and I hope it tanks! NFLX
[07:21 am] garyb : I have a really cool
Pivot calculator…I should probably use it
more! lol[07:21 am] joeytsa : i will be
qwert[07:22 am] doji : Window dressing at
end of the moth, NFLX should be one to be
dumped by MF managers
[07:22 am] joeytsa : gary, just add them as
a study on your charts
[07:22 am] apple : i am using them on
freestockcharts[07:22 am] garyb : yes..I
have that too…shows a dot when there is a
pivot
[07:22 am] qwert : joey there are so many
options i have not been able to figure out
which ones to use
[07:23 am] joeytsa : mine draws lines across
the chart
[07:24 am] joeytsa : qwert, i don’t have
esignal yet, so not sure of the options you
are talking about
[07:24 am] lightning : out all DWA short
[07:24 am] lightning : S 1/2 VMC
[07:24 am] apple : we speak up pretty
loudly, MK!
[07:25 am] rickdparsons : SPRD not available
to borrow on TOS
[07:26 am] joeytsa : SINA/BIDU using S1,
break below that with volume could be a nice
profit play
[07:26 am] eyes : out .83 lly not acting
good
[07:26 am] anthonyb : lots of stuff not able
to borrow on TOS. They keep it all to
themselves rick
[07:26 am] joeytsa : nice eyes
[07:27 am] doji : SINA 64.2 support
[07:27 am] apple : you are probably right
[07:27 am] joeytsa : SPRD on easy list at
lightspeed[07:27 am] anthonyb : little trade
management question for anyone inclined to
answer…
[07:27 am] joeytsa : yes doji[07:27 am]
lightning : covered 1/2 VMC
[07:28 am] doji : Call TDA Rick, I have
managed to get a wider range of stocks
available for short
[07:28 am] Brent : fire away anthonyb[07:28
am] joeytsa : i don’t get too caught up in
the exact pivot price
[07:28 am] truck : BIDU
[07:29 am] anthonyb : I’m long SHW on the
break above 86.10 and have not taken any
profit yet, What do you think. Exit 1/2 or
just keep moving stop up under the next price
bar
[07:29 am] doji : BIDU S1=132.86
[07:29 am] Brent : if it was my trade, I
would take half off
[07:29 am] joeytsa : nice trade
anthony[07:30 am] joeytsa : agree with
brent[07:30 am] Brent : you could tighten
stop on only 1/2 your position too
[07:30 am] anthonyb : here’s what i did, I
moved a stop of 1/2 to the highest low 3min
bar
[07:30 am] joeytsa : how much profit are you
willing to give up?
[07:30 am] Brent : and see if it breaks
here
[07:31 am] joeytsa : if that makes you
comfortable than good area
[07:31 am] doji : You can use your pivot
lines to move your stop also..
[07:31 am] joeytsa : you might get a
pullback to R1 ( 86.60 area )
[07:32 am] anthonyb : DRIV is approaching a
pretty big support area for anyone
interested
[07:32 am] joeytsa : indis turning a bit
down
[07:33 am] apple : thx ab on DRIV
[07:33 am] joeytsa : anthony: something else
to think about, if that trade starts moving
like molasses, you might just want to close
it and put that money into something moving
quicker…just a thought
[07:34 am] eyes : qtm alert
[07:34 am] joeytsa : DRI lod[07:34 am]
anthonyb : out 1/2 SHW
[07:35 am] anthonyb : Hey there goes DRIV
[07:35 am] Brent : nice call on SPRD Kris
[07:35 am] qwert : yeah sprd looking good
[07:37 am] electrader : Kris what is your
target on SPRD
[07:37 am] anthonyb : JAZZ at major intraday
support, could break down
[07:38 am] garyb : mike..too bad I sold
MCD…..turned out to be a winner
[07:39 am] delux : I shorted LQDT twice and
failed
[07:41 am] delux : what’s wrong with my LQDT
entries?
[07:42 am] anthonyb : LULU is a lemon
[07:42 am] qwert : dwa still drifting down
volume almost gone
[07:45 am] qwert : kris thx for sprd[07:45
am] Ed : great call Mr. Kris
[07:45 am] lightning : stopped on last bit
of VMC short.
[07:45 am] apple : nice call on SPRD, K
[07:45 am] qwert : Ed do you still have
INHX
[07:46 am] doji : HAL guys
[07:46 am] Ed : all out
[07:46 am] anthonyb : moment of truth for
JAZZ
[07:50 am] anthonyb : IB just gave me a new
definition of slippage. I hate them thieves.
[07:51 am] doji : I have been with TDA for
over a year, all my stops are market orders
and never had issues
[07:51 am] anthonyb : That’s why my
commissions are so cheap, the scum me over
with a .12 slippage
[07:51 am] doji : What was the stock?
[07:51 am] apple : wow, ab – that’s pretty
big
[07:51 am] anthonyb : Price didn’t even
print there
[07:52 am] garyb : I looked at IB
anthony…..but I liked the software of TS
better
[07:52 am] garyb : It’s the entire package
in 1
[07:52 am] lightning : If price didn’t
print, call and complain. But, as they say,
slippage happens
[07:52 am] eyes : how much is ts[07:53 am]
garyb : commissions?
[07:53 am] doji : Do you remember when my
stop order was not filled and was complaining
about that?
[07:53 am] eyes : no don’t they charge for
platform
[07:53 am] doji : I called TDA and they said
it was a problem with the online market
maker
[07:53 am] anthonyb : TS has the best charts
hands down. But I mysteriously had a 30k
debit to my account with them once . they
withdrew someone else’s fund from my account
and took their sweet time refunding me
[07:53 am] doji : and they refunded me
back
[07:54 am] anthonyb : not a joke
[07:54 am] garyb : wow..that’s quite a
mistake anthonyb!
[07:54 am] anthonyb : lol yeah they acted
like it was no big deal, happens all the
time
[07:55 am] anthonyb : i closed my account
[07:55 am] apple : i would have as well
[07:56 am] anthonyb : I’m having a really
good day despite my little .12 slippage.
water under the bridge
[07:58 am] snowcat : any thoughts on
lqdt?
[07:58 am] electrader : s SPRD 22.80 c 1/2
– 22.57, c 1/4 – 21.87 stopped last 1/4
21.81
[07:59 am] truck : BIDU ,,really dropping
[07:59 am] lightning : FMCN dropping
[08:00 am] qwert : apple our problem is some
of the rehearsals don’t even start until 9 or
10 at night and run till like 2 am
[08:00 am] lightning : MTL dropping too
[08:01 am] mikewd2 -: SINA lod[08:02 am]
anthonyb : JAZZ falling nicely, made up my
.12 and then some
[08:03 am] mikewd2 -: DRI CEO talking on
CNBC
[08:03 am] derns : Can anyone help me
understand this: in looking at TNA on a daily
chart, it has gapped up for several days, but
has a red candle..i.e., opens higher, but
closes below gap up. Is there any weakness
that can be read into that or is it strength?
Opposite for TZA.
[08:04 am] anthonyb : take care everyone,
see you all tomorrow.
[08:05 am] Brent : see you tomorrow anthonyb,
have a good night
[08:05 am] Ed : take care anthonyb[08:07 am]
doji : Did someone sort LQDT?
[08:08 am] doji : short
[08:08 am] electrader : l MAT 10.10 sold 1/2
– 10.21 stopped last 1/2 b/e[08:08 am]
mikewd2 -: amersaeed, how you liking trade
station?
[08:09 am] lightning : out 1/2 MTL long
[08:19 am] neel : Geithner speaking on
CNBC
[08:21 am] derns : Geitner reiterated US has
difficult economic challenges
[08:21 am] lightning : duh
[08:21 am] apple : so what is else is new
[08:24 am] qwert : anybody else still in DWA
short with me
[08:26 am] lightning : closing rest of MTL
long
[08:29 am] mh : i just went long DWA?
[08:29 am] khall : BIDU just broke thru
daily S2
[08:31 am] lightning : qwert, I was but I am
out DWS short
[08:31 am] lightning : I’m flat and
looking
[08:31 am] lightning : REGN getting
interesting
[08:31 am] lightning : still has to drop
more though
[08:31 am] qwert : still have 1/10th
position dwa short
[08:32 am] apple : thx light, REGN does look
pretty good
[08:32 am] Ed : nice job qwert[08:34 am]
delux : Mitch, buy out rumor makes the stock
shot up and then fall down?
[08:36 am] doji : HAR
[08:40 am] observer : SLW slowly,
persistently gaining
[08:42 am] derns : Lightening..nice call on
REGN…I am trading simulation only, but a
great lesson..thx[08:48 am] lightning :
derns, I missed REGN :(. I was on the phone
with e-signal.
[08:49 am] derns : sorry to hear that…I
guess you ended up the same place I did…no
$ in our pocket..lol. Interesting it dropped
about .96 and rebounded about .60…a fib
retracement.
[08:50 am] lightning : I’m looking at it
again…I was looking at REGN as a 3-min
fade, so I wouldn’t have been in…it would
have needed to drop another .50 or so for me
to trade it.
[08:50 am] lightning : But, derns, your way
of trading it would have worked perfectly.
[08:52 am] derns : Lightening..meaning you
wanted to see a min 2.5% drop, say 1.42,
before fading long?
[08:52 am] lightning : I was looking for it
to get to at least 53.50.
[08:55 am] mikewd2 -: go TNA
[08:56 am] mhaus : DRQ
[08:57 am] mikewd2 -: out TNA nice 1.5%
[08:57 am] qwert : nice mike
[08:59 am] eyes : I am loving the video
apple
[09:07 am] observer : SLW new hod with
silver breaking 32.00 p oz.
[09:09 am] joeytsa : hey, did anyone catch
that big % move in AMR?
[09:10 am] joeytsa : looks like metals are
rallying a bit
[09:11 am] joeytsa : thanks Ed
[09:14 am] qwert : news on crk?
[09:15 am] joeytsa : thanks for CRK ed..nice
quick one
[09:15 am] joeytsa : got out too soon
though
[09:16 am] delux : Joeytsa, how do you know
to long on CRK? I got the wrong side
[09:16 am] joeytsa : gunslinged a bit, took
it at 18.10
[09:17 am] joeytsa : i didn’t “know”, just
tried it with a small loss area
[09:17 am] joeytsa : might get a short here
soon though
[09:17 am] joeytsa : plus that 1st move held
the 5ma support
[09:17 am] delux : i shorted early and
stopped out
[09:18 am] joeytsa : here’s the short
[09:18 am] joeytsa : i think…didn’t take
it though
[09:20 am] joeytsa : delux: remember, no
matter how intricate your entry..it’s still a
guess
[09:20 am] joeytsa : use stops so you don’t
get hurt if wrong
[09:21 am] joeytsa : SPY basically even on
the year..125 area
[09:21 am] delux : thx Joey
[09:22 am] joeytsa : best advice i would say
is to know your profit area/stop area before
you enter a trade
[09:22 am] joeytsa : trying to decide that
once you are in a trade is not fun haha[09:23
am] delux : its hard Joey
[09:23 am] joeytsa : i still screw up
[09:23 am] joeytsa : profit target you can
be a little flexible with…stop loss stay
strict
[09:24 am] lightning : CRK short just took
my lunch money
[09:24 am] rickdparsons : Give me some ideas
on how you guys set stop losses…
[09:25 am] joeytsa : rick: you can use %, $,
or support/resistance areas
[09:26 am] joeytsa : everyone is
different..you have to find out what makes
sense to you
[09:27 am] lightning : re-shorted CRK,
smaller position
[09:28 am] joeytsa : rick: sadly, i am kind
of a sloppy trader..that’s my next goal..to
become more efficient…
[09:29 am] joeytsa : i use $ in conjunction
with s/r, whether it’s a moving avg or a
pivot….
[09:30 am] joeytsa : I also try to keep a
minimum 2:1 reward/risk on a trade..but some
happen so fast i get sloppy
[09:30 am] joeytsa : CRk holding some
support here
[09:31 am] lightning : yeah, it has to break
below 18.50 CRK
[09:32 am] joeytsa : yeah lightning
[09:33 am] lightning : if it does, though,
it could be a fast .20
[09:33 am] lightning : (like i know)
[09:33 am] michael : I’m short with you
Lightning, I’m at 18.58, stop moved to
18.70
[09:36 am] delux : CRK holding there
[09:36 am] joeytsa : yeah and indis keep
getting lower
[09:36 am] delux : stochs going to lower
ranges
[09:37 am] joeytsa : 40cent spike on DNDN
[09:38 am] observer : GLD new HOD and
strong
[09:38 am] eyes : DNDN alert
[09:39 am] delux : i think CRK short is
hopeless
[09:39 am] lightning : Correction: Dendreon
sells VICTRELIS royalty interest to CPP for
$125M :theflyonthewall.co
[09:39 am] joeytsa : looks like they halted
DNDN
[09:39 am] eyes : i agree
[09:40 am] doji : Yes, DNDN halted
[09:40 am] doji : Reason = T2
[09:41 am] doji : T2 = Halt – News
ReleasedThe news has begun the dissemination
process through a Regulation FD compliant
method(s).
[09:41 am] delux : CRK 1 min stochs hook up.
is it time to exit?
[09:42 am] doji : Are short or long
Delux?
[09:42 am] lightning : CRK: I’m short, have
a stop I am comfortable with, and a target I
like. I’ll let whatever happens happen.
[09:42 am] joeytsa : or just keep a tight
stop
[09:43 am] delux : short CRK 18.48
[09:44 am] lightning : watching MBI
[09:44 am] joeytsa : re: CRK…normally this
is a stock you wouldn’t scalp much due to
small adr..so be careful…this is a pretty
big move for them today
[09:44 am] doji : Share your number
lightning!
[09:45 am] lightning : short CRK at 18.58,
stop at .76 and targeting .33.
[09:45 am] doji : It moved a lot today but
look like a long swing
[09:45 am] doji : on a pullback
[09:46 am] lightning : on CRK or MBI?
[09:47 am] doji : CRK
[09:48 am] delux : CRK has strong support in
18.50
[09:48 am] delux : area
[09:48 am] doji : you mean 17.5 Delux[09:48
am] lightning : CRK is certainly having a
hard to getting below .50, you are right
delux[09:49 am] michael : delux, CRK is
consolidating here. Kris says they usually
continue the move after that, which would be
up, that’s why the tight stop. If it can
break below 18.50, could give some money, so
betting on that
[09:50 am] lightning : OK, it’s been 24
minutes since I shorted CRK and it has moved
sideways. I’m closing out for a few pennies
of a gain.
[09:50 am] lightning : (now it will break
.50!)
[09:50 am] delux : Michael i short CRK and
watching it its interesting to listen from
the pros
[09:50 am] michael : LQDT good move up
again
[09:50 am] doji : MBI
[09:51 am] joeytsa : nice catch michael
[09:51 am] doji : Any news in MBI guys?
[09:51 am] michael : the pros are in the box
above us, we’re all trying to get to the big
leagues
[09:51 am] doji : It just moved 2.5%
[09:51 am] lightning : no MBI news from
flyonthewall[09:52 am] joeytsa : re: CRK,
the earlier consolidation areas lasted about
30 minutes then small drop then higher
level
[09:52 am] joeytsa : it’s a stock that
normally doesn’t move much though
[09:54 am] joeytsa : it’s at res on the
daily also
[09:54 am] michael : I’m out CRK, like
watching paint dry
[09:54 am] doji : Here it comes
[09:55 am] delux : should i short LQDT? i
shorted it twice in the morning and lost
[09:55 am] Ed : i would pass delux[09:55 am]
joeytsa : me 2
[09:55 am] doji : I don’t see anything in
LQDT deluxe
[09:57 am] doji : Every time I look at MBI I
think of “pump and dump” trap
[09:57 am] joeytsa : CRK broke out
[09:58 am] delux : Michael, Kris is right
CRK moves up after consolidation
[09:58 am] lightning : yeah, I passed on
MBI…maybe if had been close to yesterday’s
high of 11.19, I would have tried.
[09:58 am] doji : If CRK brakes 19, I’d like
to short if below 20
[09:58 am] joeytsa : be interesting to see
if CRK sets up another consolidation area and
move up
[09:58 am] doji : assuming it doesn’t brake
20
[09:59 am] joeytsa : yeah doji, 20 is res
[09:59 am] doji : yeah Joey but at some
point it will have to give up
[09:59 am] lightning : well, CRK took my
lunch money on the first trade, but I made
enough on the second to steal two French
fries from it.
[09:59 am] joeytsa : it’s not a stock i will
play either way
[09:59 am] delux : if i know early about
Kris’ opinion i will exit CRK
[10:00 am] doji : How long have you been
trading Delux?
[10:00 am] lightning : joey, because of the
ATR?
[10:01 am] delux : a few weeks
[10:01 am] joeytsa : yes lightning
[10:01 am] delux : in simulation Doji[10:01
am] doji : Well, if you want to learn, try
papertrade first for at least 3 months
[10:01 am] doji : ok that is good
Delux[10:01 am] doji : very good
[10:01 am] lightning : joey, what’s your
“rule” for ATR? At least some number?
[10:02 am] doji : He is using his calculator
lightning
[10:02 am] joeytsa : unless it’s a breaking
news play/rumor etc…i need a stock that has
multiple dollar daily moves…
[10:03 am] delux : but i am still struggling
with entry / exit signals and worse is
jumping into the wrong side
[10:03 am] joeytsa : maybe it’s me, but i
have problems trying to scalp a stock that
only moves 50cents a day
[10:03 am] lightning : thanks Joey.
[10:03 am] joeytsa : which is why normally i
avoid low priced stocks
[10:03 am] victor51 : DNDN selling royalty
interest for 120 million
[10:03 am] doji : Hey, what is ATR?
[10:04 am] lightning : maybe the idea for
ATR is that it be greater than a certain
percentage of the price (like 4-5%)
[10:04 am] lightning : ATR = Average True
Range
[10:04 am] joeytsa : ATR : average true
range i believe, i use ADR: average daily
range
[10:04 am] joeytsa : not sure of the
different actually
[10:04 am] doji : For me the rule is simply:
don’t trade any stocks unless it has moved at
least 3% on either direction
[10:05 am] lightning : ATR = ADR if you are
looking at a daily chart. ATR can also be
used in intraday charts
[10:05 am] doji : then I look for S/R levels
and calculate the potential retracement (38%,
50% and 62%)
[10:05 am] Brent : DNDN resumed
[10:05 am] joeytsa : thanks brent[10:06 am]
doji : No yet for me, need to move more
[10:07 am] doji : That’s all in DNDN
[10:08 am] chinhngo : long or short dndn
please?
[10:10 am] doji : none
[10:11 am] Ed : no trade in here chinhngo
right now
[10:19 am] rickdparsons : what is “small buy
program”?
[10:21 am] khall : a small run of buyers in
the market – drives it up
[10:23 am] joeytsa : Cramer is saying a big
down move is coming..not here yet
[10:25 am] lightning : just because Cramer
is wrong 90% of the time doesn’t mean he is
wrong this time.
[10:25 am] doji : These are the 10 stocks
that will be most probably dumped by the MF
managers for the end of the year windows
dressing: ANR, AIG, BAC, CSC, FSLR, JNS, WFR,
MWW, NFLX, X
[10:25 am] joeytsa : AGQ hod[10:25 am] derns
: Joey..why do the shorts need to be cleaned
out? Is he suggesting this is a short
covering rally?
[10:26 am] joeytsa : i think he is meaning
with no ‘shorts’, there won’t be anyone to
buy
[10:26 am] derns : hmmm…I remain perplexed
by this run up over the past week
[10:27 am] lightning : nice move by CSTR
here
[10:27 am] joeytsa : won’t be anyone to
break the fall?
[10:29 am] joeytsa : derns: on thestreet
website, the article is called “Cramer: A
Colossal Market Hiccup is Coming”
[10:29 am] joeytsa : i saw it on facebook
haha[10:29 am] joeytsa : cramer is one of my
‘likes’ haha[10:33 am] joeytsa : if AMZN
breaks S2, might get a nice move down
[10:34 am] lightning : there you go, joey.
AMZN looks under S2 to me.
[10:34 am] joeytsa : i see that, be nice to
see a slight up move to s2 and then break
down
[10:47 am] joeytsa : lost patience with
AMZN, taking a break, keep eye on it
[10:50 am] doji : NFLX S
[10:53 am] delux : is SPY consolidating
here? move up or down?
[10:54 am] delux : Doji, as an experienced
trader, how can you short NFLX when all
stochs are flat at the bottom?
[10:57 am] Brent : it’s a different strategy
delux, not all strategies use stochastics as
a determining factor
[10:58 am] Brent : more of a play on weakness
and break of support
[10:58 am] derns : doji’s strategy seems to
be working
[10:58 am] delux : oh i see. i just watched
DVDs and trying to trade like that
[10:58 am] Brent : that’s good delux. It’s
good to focus and master one strategy, then
add more with experience
[10:59 am] mikewd2 -: MOS continues to move
up
[10:59 am] derns : doji…if I don’t mind me
asking, what was your entry, expected target
and stop? Trailing or fixed stop?
[11:00 am] delux : and i am trying to find
out correlation of SPY and other stocks
[11:00 am] doji : On any specific stock?
[11:00 am] derns : Your short on NFLX
[11:03 am] doji : Support above 68 was
broken and I enter my trade right below 68
[11:04 am] doji : My stop is above 68
obviously
[11:04 am] doji : 68.2/68.3 is now
resistance
[11:05 am] doji : If I get 1% in NFLX that
will be OK, that is the most you can expect
at this time of the day
[11:09 am] mikewd2 -: out of MOS 53
[11:10 am] mikewd2 -: buying back LRN from
early sell at 28
[11:13 am] delux : Kris listed some stocks
for long and short before the market hour but
no call during the day. is it for trade
ourselves?
[11:13 am] mikewd2 -: CNBC discussing that
AMR stock is worthless, yet up 70% today.
[11:13 am] mikewd2 -: delux: those are stocks
he is watching, they may not pan out
[11:14 am] apple : lol, wait until
tomorrow
[11:14 am] delux : thx mike
[11:15 am] lightning : delux, generally
Kris’ pre-market ideas are stocks he is
looking at for a breakout or breakdown
strategy; or stocks he is looking at for a
gap trading strategy. Neither of them are
covered in the DVDs
[11:15 am] delux : SPY break out
[11:17 am] delux : thx lighting, then where
can i find those strategies beyond the
DVDs?
[11:17 am] delux : NFLX wild Doji[11:17 am]
apple : there goes NFLX
[11:17 am] derns : doji…you still short
NFLX?
[11:17 am] derns : or is that you shorting
an additional 750k?
[11:18 am] delux : what happen to NFLX?
[11:20 am] derns : CNBC…further drop in
housing prices across nation.
[11:20 am] lightning : delux, TSA had a
webinar series in September where they
covered those. Perhaps you can contact
[email protected] to find out
how to access archives of them. (Note — the
webinars were an extra expense.)
[11:21 am] Ed : verizon to compete with
nflx[11:21 am] mikewd2 -: nice job on NFLX
short doji.
[11:21 am] Ed : being reported, doji had the
news 1st
[11:22 am] delux : thx for info lightning.
i’ll contact but i can’t afford expensive
courses
[11:22 am] mikewd2 -: Netflix falls after
Reuters reports Verizon planning competing
product
[11:23 am] lightning : delux, you WILL be
able to afford it once you have mastered your
first strategy.
[11:24 am] lightning : we all start with
working to get good at just one.
[11:24 am] doji : My close order in NFLX was
filled up at 66.94…
[11:24 am] delux : which one first?
[11:25 am] derns : impressive doji[11:26 am]
lightning : you have the DVDs, right? I’d
focus on that first. Then one called
3-minute fade (it’s a webinar); then gaps
and breakouts (webinars). Just my two cents,
but Brent/Ed/Mitch may have a different
opinion
[11:28 am] delux : thx lightning, i am a
beginner who don’t understand jargons beyond
basics
[11:29 am] lightning : delux, you’ll get
there. Don’t hesitate to ask questions
here.
[11:32 am] delux : why we watch SPY? to do
something with it?
[11:33 am] Brent : just for a picture of
overall short term market direction
delux[11:33 am] Brent : I don’t trade it,
just watch it
[11:33 am] eyes : brent on what time frame
do you keep SPY
[11:34 am] delux : do you mean other stocks
move with SPY?
[11:34 am] Brent : primarily 1,3, and 15
eyes
[11:34 am] doji : Ok fellas I have to go
home or the traffic in Rio will kill me
[11:35 am] Ed : take care +
[11:35 am] chinhngo : i am sell put of vxx
buy put of fas and buy call of faz is that ok
please give me your advice ?
[11:36 am] dan : INHX is moving toward the
high of the day
[11:36 am] delux : Doji made a good profit
on NFLX
[11:38 am] delux : SPY hod[11:39 am] joeytsa
: even Tom Demark is calling a 1330-1040 ES
level by 12/21..then collapse
[11:40 am] delux : SPY is moving up so what
can i trade now?
[11:40 am] mikewd2 -: go TNA
[11:40 am] Ed : chinhngo options are already
leveraged, so to play the options on
leveraged etf’s is increasing the potential
for gain and even quicker chance of loss
[11:42 am] mikewd2 -: out TNA 47.10, nice
quick profit
[11:42 am] Ed : so I would pass
chinhngo[11:42 am] joeytsa : nice mike
[11:42 am] delux : i entered late TNA
[11:43 am] khall : story on NFLX that
Verizon planning to launch a video streaming
service similar to NFLX
[11:43 am] khall : thus the drop
[11:43 am] garyb : Hi all …I am back in
time to see all the profit in MCD! Gotta
love the Big Mac! 🙂 congrats Mike on your
TNA
[11:44 am] mikewd2 -: delux i entered
46.57
[11:44 am] mikewd2 -: be careful getting in
too late on these jumps
[11:44 am] Ed : chinhngo how do u have ur
charts set up now?
[11:45 am] Ed : 1min timeframe,
2min,3min,etc
[11:46 am] chinhngo : this is advice from
another analyst
[11:46 am] mikewd2 -: definitely got out of
MOS to early
[11:46 am] chinhngo : they bet market go
down
[11:46 am] chinhngo : or even crash
[11:47 am] chinhngo : billionaire Soros bet
short euro
[11:47 am] apple : nice trend on MOS
[11:47 am] joeytsa : i think he will be
correct in the long run
[11:48 am] joeytsa : might get a big move in
the FXE with the meeting this week
[11:50 am] Ed : “markets can remain
irrational longer than you can remain
solvent”
[11:50 am] joeytsa : heck yeah
[11:50 am] observer : well said, Ed
[11:50 am] joeytsa : that’s why i try not to
guess direction
[11:50 am] Mitch K: oh i like that comment
Ed, is that your own quote?
[11:50 am] Mitch K: seriously, that’s good
[11:50 am] Ed : I wish
[11:50 am] Mitch K: i could have used that
around 1994-95
[11:51 am] delux : i longed TNA late and
barely survive
[11:52 am] delux : oh i exit early
[11:52 am] Ed : John Maynard Keynes
[11:52 am] Mitch K: Keynesian theory?
[11:52 am] garyb : watching for long in
FAZ
[11:53 am] Ed : that’s him
[11:53 am] Mitch K: i got one for you
Ed……
[11:53 am] Mitch K: Big egos make small
balances
[11:54 am] Ed : i like that, who is that
by
[11:54 am] lightning : watching CSTR for
possible short…
[11:54 am] Brent : Mrs. King
[11:54 am] Mitch K: lol, you dog brent[11:54
am] Ed : lol[11:54 am] joeytsa : ” Amateurs
want to be right…professionals want to make
money “
[11:55 am] Mitch K: good one joey, but the
goal was to have fewer words like
Confucius
[11:55 am] joeytsa : ok..
[11:55 am] chinhngo : what is the news ?
[11:55 am] joeytsa : “stock go up..buy”
[11:56 am] Mitch K: lol, good one
[11:56 am] Ed : lol[11:56 am] bopphaley :
Pros Knows – Ams Tramps
[11:57 am] eyes : you s Lightning
[11:57 am] derns : anyone..does a 3 min fade
long for TZA appealing?
[11:57 am] lightning : nope eyes. I
couldn’t get shares of CSTR at Lightspeed to
short
[11:57 am] chinhngo : but sp500 cannot break
1265 ema 200
[11:59 am] delux : Derns, is the pattern on
TZA 3 min fade?
[11:59 am] lightning : good thing..I
probably would have stopped eyes
[11:59 am] eyes : ya pretty strong
[11:59 am] electrader : Joey there are 4000
shares available to short at LS
[12:00 pm] electrader : actually just got a
message that there are 8k
[12:00 pm] joeytsa : on which stock
elec[12:00 pm] electrader : CSTR
[12:00 pm] joeytsa : I’m not playing it
[12:01 pm] derns : delux…I would certainly
defer to Brent and others, but it looks
close…should have a 3% drop first…plus
min 3 x 3 min red candles followed by a green
candle
[12:01 pm] lightning : really, electrader?
I got the “Short not permission” message.
[12:01 pm] garyb : FAZ L: 38.21
[12:01 pm] lightning : It’s OK that I didn’t
short CSTR
[12:01 pm] joeytsa : it’s on the H list,
but that doesn’t mean you can’t short it
[12:02 pm] apple : CSTR still moving on
up
[12:02 pm] joeytsa : smart plan Kris
[12:03 pm] eyes : I am done for the day good
night to all
[12:03 pm] electrader : lightning you can
email LS @ [email protected] and request
shares to short. leave your User ID
[12:03 pm] Ed : see ya eyes
[12:03 pm] electrader : they will send you a
message if it’s available
[12:05 pm] kittel1 : I just got short
position on SPY. Is it good thing to do?
[12:07 pm] delux : Kittel1, Kris posted SPY
will consolidate and move up
[12:07 pm] michael : it might work out
Kittel1, but I wouldn’t do it until you’re
sure it’s turning over, and even then
probably gonna need to be quick
[12:13 pm] joeytsa : 1265 area has been
decent res on the ES
[12:13 pm] joeytsa : a break with some vol
could make the markets run
[12:14 pm] michael : my IRA would like to
see that Joey
[12:14 pm] joeytsa : CF hod[12:14 pm] delux
: SPY hod again
[12:14 pm] joeytsa : might get it
[12:16 pm] delux : Kittel1 i think you
should stop out
[12:17 pm] kittel1 : whats ES?
[12:17 pm] joeytsa : ES= s&p emini[12:17
pm] Mitch K: S&P Mini futures
[12:20 pm] joeytsa : crude holding 101 so
far
[12:21 pm] lightning : Joey, do you trade
crude after the NY closes? I stop at 2:30
eastern.
[12:21 pm] joeytsa : no..was just looking at
it
[12:21 pm] lightning : ok, i was thinking
the volume would be problematic (or the lack
of volume)
[12:22 pm] joeytsa : probably so
[12:22 pm] chinhngo : anyway sp500 cannot
hold over 1265 so may be just a fade bull
[12:23 pm] lightning : LULU alert
[12:23 pm] lightning : oops, that isn’t such
a big move on LULU, sorry
[12:27 pm] delux : hey Kittle1 your SPY
short looks good
[12:28 pm] garyb : wow..big drop in the
market
[12:29 pm] joeytsa : gotta keep an eye on
that 1265 area
[12:29 pm] garyb : I see bearish patterns
overall
[12:31 pm] mikewd2 -: you still have some TNA
garyb? I’m down to 1k left
[12:32 pm] mikewd2 -: but sold covered dec
calls on those
[12:32 pm] joeytsa : nice way to bring in
some cash
[12:32 pm] joeytsa : i did a lot of cc’s at
one time
[12:32 pm] garyb : I sold a bunch
Mike….made some great profit……but I see
some bearish patterns in the
market……looking at TZA
[12:32 pm] joeytsa : got away from that for
some reason
[12:33 pm] joeytsa : SPY yearly, this area
has been big support and res
[12:34 pm] garyb : I can’t get the VIX on my
Charts….does anyone know the symbol? I
tried $VIX ^VIX….does anyone know?
[12:34 pm] derns : Long TZA from 26.51…any
comments on a swing trade here?
[12:35 pm] garyb : I’m in derns[12:35 pm]
delux : when Ed called CRK, i thought it was
for short, but smart people went long and
made profit. what did i miss there?
[12:35 pm] khall : vxx[12:35 pm] derns :
Garyb…I have used $VIX on esignal.
currently 27.43
[12:36 pm] joeytsa : i use $VIX on schwab
charts
[12:36 pm] apple : same on etrade[12:36 pm]
garyb : mmmm trying it on ts platform and
not working
[12:37 pm] khall : you tried vxx as well?
[12:37 pm] garyb : i tried it khall but that
is the Proshares ETF
[12:38 pm] joeytsa : it’s actually an
etn[12:38 pm] khall : yes
[12:38 pm] khall : it’s what I usually
trade
[12:38 pm] garyb : ahh yes..thanks joey
[12:39 pm] mikewd2 -: are you in vxx,
garyb?
[12:39 pm] monster : anyone have answer for
delux’s question regarding CRK. i thought he
meant short also
[12:39 pm] garyb : no vxx now mike
[12:39 pm] garyb : I’m in TZA though
[12:39 pm] joeytsa : gary…try $VIX.X
[12:40 pm] derns : Garyb…are you going to
swing TZA?
[12:40 pm] garyb : Thanks Joey..still not
working…I will try some Googling on
this…yes derns I will swing TZA
[12:40 pm] michael : monster, delux, we were
trying to short it but it was strong and kept
going higher after consolidations
[12:40 pm] mikewd2 -: i saw where Ed said
watching CRK and then Mitch said it was
trending up.
[12:41 pm] joeytsa : i gunslinged that one
long actually
[12:41 pm] mikewd2 -: never saw a short
CRK
[12:41 pm] joeytsa : got out wayyyy too
early
[12:41 pm] derns : Garyb…you said you saw
bearish signs all over..how long do you plan
on holding TZA? daily assessment?
[12:41 pm] mikewd2 -: i went long 18.60 sold
19.00
[12:41 pm] joeytsa : i think the original
thought was for it to be shorted
[12:42 pm] joeytsa : i got in at 18.10
[12:42 pm] joeytsa : got out after 30cent
profit
[12:42 pm] lightning : Time to run. Thanks
TSA and everyone. Green day today. See you
tomorrow.
[12:42 pm] garyb : I am reading the daily
and 15 min charts of TZA SPX VIX
[12:43 pm] garyb : I see a pullback …but
that’s just my opinion Derns[12:43 pm] apple
: thx MK, K, B and E and everyone. All have
a great evening. See you tomorrow.
[12:43 pm] monster : the post between ED and
Mitch was like an hour later
[12:43 pm] derns : Garyb…I was studying
the daily on both TZA and TNA…I agree with
your pullback assessment
[12:44 pm] delux : thx guys, a bit of luck.
i shorted twice CRK coz i thought my first
one was early but second one also stopped out
too
[12:45 pm] mikewd2 -: delux, you made money
on TNA right?
[12:45 pm] garyb : Derns…..we may see a
pullback and TZA may hit the 30 mark and go
down again…looking to make some on the
pullback
[12:45 pm] delux : yes mike but small coz i
entered late
[12:46 pm] derns : thx…I hope it runs over
30!
[12:46 pm] mikewd2 -: yeah, that was a fast
one
[12:46 pm] delux : i didn’t know what to do
when SPY hod was posted
[12:46 pm] garyb : me too derns! Are you in
TZA?
[12:46 pm] mikewd2 -: remember you don’t have
to trade, watch and learn..[12:47 pm] garyb
: I trade and then learn! lol[12:47 pm]
mikewd2 -: also, we mostly watch in the
afternoon – we are more aggressive for first
90 minutes of the day
[12:47 pm] mikewd2 -: i do to garyb,
[12:47 pm] derns : Yes…in TZA. Actually,
I have thot for a while we would have a pull
back, but have been listening to MK’s
commentary. From a fundamental perspective,
I see a pullback, but this is a world of
technical’s that I am still struggling to
understand
[12:47 pm] mikewd2 -: delux, what trading
platform are you on?
[12:48 pm] delux : ninjatrader[12:48 pm]
garyb : actually all kidding aside……in
my opinion the only way to learn IS to trade
mike…..because by trading you actually have
to learn to control your emotions
[12:48 pm] mikewd2 -: good
[12:48 pm] joeytsa : i agree gary
[12:48 pm] mikewd2 -: i’m on etrade but
changing to tradestation[12:49 pm] garyb :
IMO the biggest challenge is my head!
Panicking or getting to excited! Have tried
to maintain control for the last 5 months
[12:49 pm] delux : i am attended ninja
webinars but not very skillful on that
[12:50 pm] mikewd2 -: what is your stop on
TZA gary
[12:50 pm] garyb : I try to trade like a
computer now
[12:50 pm] joeytsa : amen gary…i still get
like that
[12:50 pm] joeytsa : biggest problem is
after a few losers in a row
[12:51 pm] garyb : yeh joey…sometimes I
just go for a break…get some sunshine…or
some moonshine and come back later!
[12:51 pm] joeytsa : i take 2 long breaks
each day regardless
[12:51 pm] delux : Garyb, i am trying to
trade like a pro. i was wondering you guys in
the room could make money for a living by
trading
[12:51 pm] delux : ? may be a dumb
question
[12:52 pm] garyb : derns look at TZA
buddy!
[12:53 pm] mikewd2 -: i’m long on TZA now,
garyb what is your stop lost?
[12:53 pm] derns : I’m watching it…I
actually think it will close above
26.99…
[12:53 pm] garyb : one sec…I will look
[12:53 pm] mikewd2 -: you are going to swing
it right?
[12:53 pm] Kris : take care apple. see you
tomorrow.
[12:53 pm] Ed : see ya apple
[12:54 pm] garyb : yes….I will swing
TZA..I think the market will pull
back…IMO
[12:54 pm] joeytsa : just be careful i heard
the EU is making a plan to plan a plan to
save europe 🙂
[12:54 pm] mikewd2 -: i went in at 26.70
[12:55 pm] derns : Joey…I think you left a
few of the plans to make the plans…which,
of course, will be reviewed, discussed,
submitted, etc before another plan is made
[12:55 pm] joeytsa : haha[12:55 pm] mikewd2
-: there goes TZA
[12:56 pm] garyb : we should all be GREEN
now! 🙂 on TZA
[12:56 pm] derns : TZA closed at 26.98
yesterday…I think people want to watching
this closely for a pop
[01:01 pm] qwert : goodnight everybody
great day see ya in the am
[01:01 pm] rickdparsons : the dvds show
14,3,3 stoch…
[01:01 pm] delux : end of day selling occurs
every day?
[01:01 pm] rickdparsons : but this room
shows 10-8-7
[01:02 pm] joeytsa : they changed rick
[01:02 pm] Mitch K: i don’t use 14, 3,3
anymore rick
[01:02 pm] Mitch K: not everyday delux[01:02
pm] rickdparsons : what MACD do we use
then?
[01:03 pm] delux : Mitch, if you have time
SPY chart is good for long?
[01:03 pm] Mitch K: 12 26 9 is default
[01:03 pm] Mitch K: yes delux[01:04 pm] delux
: thx Mitch, i made wrong entries today.
learn a bunch of lessons
[01:05 pm] Mitch K: try to observe first
delux, don’t trade these ideas until you get
a feel how we are trading them
[01:05 pm] Mitch K: will save you a lot of
money and frustration
[01:05 pm] Mitch K: won’t take you long
[01:05 pm] Mitch K: is this the Parsons that
is CEO of Time Warner?
[01:05 pm] delux : yeah lightning told me
about the webinar. when will a new one
come?
[01:06 pm] Mitch K: not sure delux, seminar
is next, at the earliest would be late Spring
in Portland, Oregon. i am guessing but
that’s what we are thinking, not planning
yet
[01:08 pm] delux : Mitch, seminar might be
pricey. webinar is more affordable for me
frankly
[01:10 pm] delux : good night thx for your
help
[01:11 pm] joeytsa : thanks Mitch…have a
great night everyone
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