[06:30 am] Ed : FB dont chase wait for bounce
to short into use 25.5ish area as
key [06:32 am] Mitch K: watching QCOR for
bottom [06:33 am] Mitch K: watching HLF
for short scalp but still long on swing
trade [06:33 am] Mitch K: watching RL for
bottom [06:33 am] Mitch K: watching NFLX
for trades both ways [06:33 am] Mitch K:
watching MSCI for top, looking for
31.20 [06:33 am] Mitch K: monitoring
SSYS [06:34 am] Ed : no signal here in FB
just monitor [06:34 am] Mitch K: watching
PXD for bottom [06:34 am] Mitch K:
watching CALL for top to short [06:34 am]
Mitch K: monitor NUS today [06:35 am]
Mitch K: watching healthcare sector:
UNH, HUM, AET, WLP [06:35 am] Mitch K:
watching KORS for bottom [06:35 am] Mitch
K: watching BKS for top [06:36 am] Mitch
K: WATCHING uri FOR BOTTOM [06:36 am]
Mitch K: MONITORING sina [06:36 am] Mitch
K: WATCHING mtw FOR BOTTOM [06:37 am]
Mitch K: watching SDRL [06:37 am] Mitch K:
WATCHING cphd FOR TOP [06:37 am] Mitch K:
WATCHING hca FOR BOTTOM AND THEN SHORT,
MISSED FIRST SHORT [06:38 am] Mitch K:
watching APA for bottom [06:38 am] Mitch
K: watching AAPL for trades today [06:38
am] Mitch K: looking to sell KORS long
soon [06:39 am] Mitch K: monitor education
stocks: DV, ESI, APOL [06:40 am]
Mitch K: watching VECO for bottom [06:40
am] Mitch K: watching retailers for
botoms: RL, TIF, EL [06:40 am] Mitch
K: watching BIDU for trades both ways, next
one a short [06:41 am] Mitch K: low price
stock AEZS very active, [06:41 am] Mitch
K: URI bouncing [06:41 am] Mitch K: SPY
near low of day, [06:42 am] Mitch K:
monitor DECK [06:42 am] Mitch K: watching
CALL closer for top [06:42 am] Ed : the
516 aea AAPL has had trouble last 2 days, but
still be felxible [06:42 am] Mitch K: that
would be long only trades on AEZS, careful,
stay small [06:43 am] Mitch K: on AEZS,
prefer a pattern of buy on dips on trending
up [06:43 am] Mitch K: also watch for big
spread so use limit orders on LQDT if you
trade this [06:43 am] Mitch K: low vol but
watchign LQDT [06:44 am] Mitch K:
monitoring K [06:44 am] Mitch K: gradual
covering of MSCI if short [06:44 am] Ed :
for advanced traders look for trade on FB
either way but outside of current .40
range [06:45 am] Mitch K: watching IOC for
bottom [06:45 am] Mitch K: watching ANF
for top [06:45 am] Mitch K: watching TROW
for top to short, [06:46 am] Mitch K: new
high on AEZS [06:49 am] Mitch K: new low
on SPY [06:49 am] Mitch K: consider
covering TROW [06:49 am] Mitch K: HLF, NUS
bouncing [06:50 am] Mitch K: AEZS strong,
2 mil shares traded [06:52 am] Mitch K:
FDA granted some sort of permission (not FDA
approval for marketing) to continue Phase 3
on endometrial cancer drug [06:53 am]
Mitch K: watching CALL closely to cover
short [06:55 am] Mitch K: watching oil
companies APA, APC [06:56 am] Mitch K:
nice 1 cent spread on AEZS; monitoring for a
bottom, thinking this might turn into a
trending pattern [06:57 am] Mitch K:
looking for $39 area on NUS and $35 area on
HLF on swing trade, within 10 days [06:58
am] Mitch K: consider selling SSYS
long [06:58 am] Mitch K: cover MSCI
gradually if short, limit order [06:58 am]
Ed : SPY nearing lod [06:59 am] Mitch K:
keep covering CALL short [06:59 am]
Mitch K: if stocks like QCOR and PXD are
bouncing when SPY is at low, then watch for
these stronger stocks like this to move up
higher when SPY (SP-500 etf)
bounces [06:59 am] Mitch K: more upside on
PXD [07:00 am] Mitch K: don’t pay too much
attention to level 2 on AEZS, lot of games
being played, not like it was 15 years ago
where you could believe that [07:02 am]
Mitch K: watching HCA for more upside
movement [07:02 am] Mitch K: watchign SINA
for top [07:02 am] Mitch K: consider
selling MTW [07:02 am] Mitch K: CPHD
turning into trending stock up [07:03 am]
Mitch K: hard to read BKS chart [07:03 am]
Mitch K: AET bouncing [07:04 am] Mitch K:
i’d look for a bottom to buy CPHD [07:04
am] Mitch K: quick drop in CPHD usually marks
important top [07:05 am] Ed : SPY nearing
hod [07:06 am] Mitch K: i will try to
clarify what i was looking for in statements
like: [06:35 am] Mitch K: watching
healthcare sector: UNH, HUM, AET,
WLP. i was looking for shorts because
they gapped down and climbed up and started
stalling. watch these for 2nd helping
short [07:07 am] Mitch K: that was answer
to CHingo [07:07 am] Mitch K: looks like
it CPHD, thats what im looking for, [07:09
am] Mitch K: this is why BKS acting spastic
on upside [07:09 am] Mitch K: BKS:
Barnes & Noble climbs after Pearson
deal despite holiday sales miss Barnes
& Noble (BKS) is advancing after the
company announced that its holiday sales
would be lower than expected, but also said
that British publishing company Pearson (PSO)
would invest $89.5M in the American
retailer’s NOOK unit [07:10 am] Mitch K:
careful if you are long and if CPHD goes
below $34 [07:11 am] Mitch K: many
stocks [07:11 am] Mitch K: seeing hard
selling [07:11 am] Mitch K: looking to
sell APC, assuming you sold APA [07:15 am]
Mitch K: learn futures-forex on simulator
mode [07:15 am] Mitch K: 6E cycling well,
Currency future, watching 4 range
chart [07:15 am] Ed : monitoring FAST no
hurry [07:16 am] Mitch K: over several
month period you will get a lot
better [07:20 am] Mitch K: CPHD not acting
like trending stock, still negative [07:24
am] Mitch K: sell signal on SPY so other
longs you have might pullback [07:42 am]
Ed : SPY trading in range [07:43 am] Ed :
reason for spike [07:43 am] Ed : OBAM will
offer scaled back budget packet [07:45 am]
Ed : SPY new hod [07:56 am] Mitch K: Make
sure you all go through this authentication
process TODAY so you can get your exchange
fees waived on futures-forex datafeed.
http://www.screencast.com/t/LfkzHN0PDQ [07
:57 am] Mitch K: if you have esignal, or
others there are exchange waiver program too
but i am only familiar with this method since
i use Ninja [07:57 am] Mitch K: today is
last day in December you can do this and get
fees waived, must connect to brokerage firm
through Ninja Control center [07:58 am]
Mitch K: but i saw esignal and a couple other
datafeeds have procedures to get exchange
fees waived. must do this once a
month [07:59 am] Ed : getting pullback in
SPY [08:13 am] Mitch K: when you get a
downtrend in CL, Crude oil like we have last
35 minutes or so, you shouldn’t buy long the
buy signals and sell on the sell signals but
use a small profit target on those bounces if
you buy at all. best to not buy long
until the trend reverses [08:28 am] Ed :
nice pullback in SPY [08:37 am] Mitch K:
now you can see what i am talking about how
CL has had trend change [08:47 am] Mitch
K: watching CRI for top, Carter
Inc. [08:49 am] Mitch K: TSO and VLO are
both oil refiners. if the USA had more
oil refineries, our gasoline would drop in
price but enviromentalists make it too costly
and difficult to establish. Plus Obama
is also environmentalist mentality
too. [09:31 am] Mitch K: watching KORS for
top [09:32 am] Mitch K: watching IRM for
short, micro short [09:34 am] Mitch K:
watching YONG for short [10:03 am] Ed :
SPY trading in range [10:12 am] Mitch K:
watching M [10:57 am] Ed : SPY breaking
down from range [11:26 am] Ed : getting
some selling in SPY [11:35 am] Mitch K:
should get a tradable bounce on HLF on next
bottom [11:37 am] Mitch K: i beat you
Murano [11:37 am] Mitch K: if anyone short
IRM, good to cover soon [11:37 am] Mitch
K: im surprised the market hasnt sold off
more this week on politicians not making
deal [11:38 am] Mitch K: which stock or
instrument you talking about joey? [11:38
am] Mitch K: you are still fast
though [11:42 am] Mitch K: you guys want
to see something cool on NG 02-12?
First time i ever looked at this long of
interval but type in 9R in the NG
chart. sure looks good. low
maintenance trade [11:44 am] Mitch K: i
got that idea from a friend and we were
screen sharing and i saw his setting. i
told him he might be certifiable. he
said you already are but try the
setting [11:45 am] Mitch K: yeah, i agree
joey, i told him you can lose a lot of money
quickly on a setting like that [11:45 am]
Mitch K: what are friends for besides sharing
ideas and verbally abusing each other and
then laughing [11:46 am] Mitch K: i always
have done that qwert, goes back to mid
90’s [11:46 am] Mitch K: but i have
several charts open with different time
intervals anyhow [11:47 am] Mitch K: when
charting packages starting showing up.
i think meta something and Tradestation were
selling $3,000 packages and had about 6
indicators, was really bad too, slow, not
real time yet [12:09 pm] Mitch K: what
joey and I were saying earlier about that 9
Range setting on NG 02-13 . . . . a long time
interval can cause a sizeable loss before a
sell signal is generated so you want to
always have a stop loss set. i put my
stops in when i open a futures trade.
mentality is “just in case” some news event
causes the instrument to go against
me [12:38 pm] Ed : no new offer by Obama
at meeting [12:39 pm] Ed : earlier reports
were forr scaled back offer [12:40 pm] Ed
: SPY made new lod [12:48 pm] Ed : more
selling in SPY [12:49 pm] Mitch K: is Lisa
here or anyone who uses
Tradestation? [12:50 pm] Mitch K: or is
there another procedure to get exchange fees
waived for TS? [12:50 pm] Mitch K: i was
wondering if that authentication to get
exchange fees waived works through
NinjaTrader as i outlined in the video i
emailed you an hour ago [12:51 pm] Ed :
SPY testing yesterdays low [12:52 pm]
Mitch K: i have 3 datafeeds so i save over
$1000 a month of fees waived [12:52 pm]
Mitch K: ok, Monday is last day to get this
months exchange fees waived so make sure you
do that on each datafeed that you
have. [12:56 pm] Ed : have a great weekend
traders
| [06:22 am] apple : good morning to all
wonderful traders [06:22 am] apple :
gm cowboy [06:22 am] apple : gm
sky [06:22 am] apple : gm
qwert [06:22 am] apple : gm
shark [06:22 am] apple : gm
taco [06:22 am] apple : gm
lisa [06:22 am] apple : gm joey –
missed you [06:22 am] apple : gm
chin [06:22 am] apple : gm
E [06:22 am] lisas : gm
apple [06:22 am] apple : gm
MK [06:22 am] joeytsa : gap down:
AAPL,AMZN,SPXL..CALL sgap up on lower
vol, lots of etf’s gapping [06:22
am] apple : thx joey [06:23 am]
taco : hi apple, thanks joey [06:23
am] chinhngo : hi apple [06:24 am]
scalpman : HI guys [06:24 am]
qwert : thx joey [06:24 am]
scalpman : joey…any gap up? [06:24
am] apple : gm scalp [06:24 am]
cowboyh : gm apple [06:25 am]
scalpman : hi apple [06:26 am]
skydiver : gm apple [06:28 am]
go4it : Gm all no BKS at TS [06:28
am] apple : gm go [06:29 am]
skydiver : Lightspeed has BKS
go4it [06:30 am] elisha : Good
Morning Mitch, Ed and everyone [06:30 am]
skydiver : thnx Ed [06:31 am]
apple : gm elisha [06:31 am]
taco : thanks Ed [06:31 am]
joeytsa : watching HCA [06:31 am]
joeytsa : low vol still on HCA
though [06:31 am] elisha : gm
apple [06:31 am] mikewd2 -: QCOR [06:32
am] joeytsa : watching CPHD [06:34
am] joeytsa : watching KORS [06:36
am] joeytsa : Mitch hitting the eggnog
again 🙂 [06:36 am] shark :
hmmm… [06:36 am] Ed : early [06:37
am] apple : heck, he’s had a good
year… celebrate [06:37 am] shark :
tastes better with spice [06:37 am]
mikewd2 -: Mitch in cap lock mode
today [06:37 am] apple : gm
mike [06:40 am] joeytsa : ranges for
breaks : /CL 91.20,91.10 , /PL 1528,1525; /GC
1663,1660 [06:40 am] apple : thx
joey [06:42 am] joeytsa : watching
SINA [06:43 am] mikewd2 -: also Mitch,
AAPL been weak everyday lately after opening
bounce [06:43 am] shark : thx Ed,
Mike -AAPL [06:45 am] joeytsa :
chicago pmi slightly up, pending homes sales
in 15 mins [06:45 am] joeytsa : nat
gas @ 7:30pdt, crude inv 8pdt [06:46 am]
apple : thx joey [06:46 am]
regatta : watching SINA [06:49 am]
joeytsa : out /PL [06:51 am]
joeytsa : /GC made a range break also
🙂 [06:52 am] mikewd2 -: on AEZS, hugh ask
block at 2.68 needs to go [06:52 am]
skydiver : SINA retracts denial of
Alibaba investment rumors [06:54 am]
apple : thx sky [06:54 am]
skydiver : 🙂 [06:58 am] mikewd2 -:
on AEZS hugh ask block removed [06:59 am]
shark : thx, mike [07:00 am]
skydiver : pending home sales up 1.7
percent – expectations were 1.0 [07:01 am]
mikewd2 -: thanks Mitch [07:01 am]
joeytsa : Level 3 a bit more
accurate [07:01 am] joeytsa : im
sure games can be played there as
well [07:01 am] shark : 🙂 [07:01
am] apple : it’s all one big game,
admit it [07:01 am] joeytsa : BIDU
over $100 [07:02 am] chinhngo :
joeyta what is level 3 meaning
thank [07:02 am] mikewd2 -: yeah apple,
and we are just pawns in the game [07:02
am] apple : you got it [07:02 am]
mikewd2 -: HLF nice today [07:02 am]
joeytsa : chin: Level 3 is all of the
orders [07:02 am] shark :
nflx [07:02 am] mikewd2 -: level 3 is what
i’m monitoring on etrade i think [07:03
am] shark : market moving
higher [07:03 am] joeytsa : on
Lightspeed it is called Books, not sure which
platforms offer it [07:03 am]
joeytsa : home sales # moving
market? [07:03 am] chinhngo : i only
have qoute level 2 [07:04 am]
joeytsa : yeah, most do [07:04 am]
joeytsa : mike: what are you following
on etrade? [07:04 am] chinhngo : how
to get level 3 [07:04 am] mikewd2 -:
AEZS [07:04 am] joeytsa : switch to
lightspeed [07:04 am] mikewd2 -: i see all
the markets on it [07:05 am] joeytsa
: mike: i meant, you said you think level
3…what is it called on etrade? [07:05
am] shark : SPY testing hod
area [07:05 am] joeytsa : /PL,GC
some nice moves [07:06 am] mikewd2 -: its
the market depth on etrade [07:06 am]
scalpman : All out APC L [07:06 am]
joeytsa : gotya thanks [07:07 am]
skydiver : thnx Mitch [07:07 am]
chinhngo : bottom to buy cphd at 34.27
? just want to confirm [07:09 am]
scalpman : Thanks Mitch on APC
clall [07:09 am] scalpman :
call [07:12 am] shark : SPY new
lod [07:12 am] mikewd2 -: VIX up another
5%, 20.48 [07:17 am] mikewd2 -: HLF
battling 30.00 [07:17 am] joeytsa :
/GC sitting on S1 [07:20 am] mikewd2 -:
HLF thru 30.00 [07:25 am] cowboyh :
HLF very nice swing idea Mitch mucho
tks [07:43 am] skydiver : wow spy –
jumped fast [07:44 am] shawn : has
wynn topperd? [07:45 am] mikewd2 -: where
did you see that Ed, no word on
CNBC? [07:46 am] Ed : global equity news
feed [07:46 am] skydiver : nice news
feed Ed 🙂 [07:46 am] Ed : thx had to bite
the bullet [07:46 am] joeytsa :
nice [07:46 am] apple : thx
E [07:46 am] skydiver : 🙂 [07:46
am] mikewd2 -: not sure i believe
it [07:46 am] Ed : and you all get
benefit [07:46 am] Ed : as well [07:46
am] skydiver : thnx Ed 🙂 [07:47 am]
apple : thx E [07:47 am] Ed : joey
keeps it all to himself and the pretty
ladies [07:47 am] joeytsa :
🙂 [07:47 am] qwert :
hahaha [07:47 am] mikewd2 -: Obama to
propose scaled-back budget package today,
Bloomberg reports [07:48 am] mikewd2 -:
there it is [07:48 am] Ed : cool [07:48
am] skydiver : quite the delay
mike [07:48 am] skydiver : compared
to Ed’s news 🙂 [07:48 am] mikewd2 -:
yeah, more supprised not seen on CNBC
yet [07:48 am] joeytsa : schwab
should be reporting that in about 2 hours
haha [07:48 am] Ed : lol [07:48 am]
skydiver : funny joey 🙂 [07:49 am]
apple : haha [07:50 am]
joeytsa : break time, see you in an
hour [07:50 am] skydiver : see ya
joey – enjoy [07:50 am] shawn : ed:
I am short WYNN? [07:50 am] Ed : u already
had a 4 day break [07:50 am] shawn :
Need your help [07:50 am] apple :
have fun joey [07:50 am] Ed : whats ur
entry [07:50 am] shawn :
112.12 [07:51 am] Ed : just place stop
112.33 [07:52 am] mikewd2 -: good stop
point, Ed – thats’ a 10 cents over my
pivot. [07:52 am] Ed : cool thx
mike [07:53 am] Ed : take some off on this
drop in here shawn and when u tak some off
move remainerd to breakeven o [07:53 am]
mikewd2 -: missed re-entry on HLF after
re-test of 30.00 [07:54 am] Ed : how u
making it shawn [07:54 am] shawn :
Thank you Ed. Already made good
money [07:54 am] mikewd2 -: nice play
shawn [07:54 am] Ed : do you still have a
piece or your all out [07:55 am]
shawn : All out [07:55 am] Ed :
ok [07:55 am] Ed : nice play on HLF
mike [07:55 am] Ed : hey mike how is that
thing going we spoke of [07:56 am] mikewd2
-: forgot which thing? haha [07:56 am]
mikewd2 -: post me on FB [07:56 am] Ed :
ok [07:57 am] qwert : thx
mitch [07:58 am] scalpman : cover
1/2 HLF s [07:58 am] skydiver :
gotta go into the office . . . hope to get
back on at the office for a bit later — have
a greast week-end all 🙂 [07:59 am]
taco : see ya sky [07:59 am]
skydiver : 🙂 [07:59 am] apple
: have fun sky [07:59 am] Ed : c ya
sky [08:01 am] mikewd2 -: Cook County, IL
to impose $25-per-gun tax, Fox News reports –
that’s BS [08:02 am] apple : that’s
city of chicago [08:03 am] mikewd2 -: i
guess “right of freedom of speech” will be
taxable if you say something they don’t
like. [08:03 am] apple : haha
right [08:06 am] mikewd2 -: nice move back
on SSYS from lod [08:11 am] scalpman
: cover 1/2 CHPD s [08:13 am] mikewd2 -:
nice scalp, roughly 50% retracement from
hod/lod [08:13 am] scalpman : Cover
1/4 CPHD [08:13 am] scalpman : All
out FB S [08:13 am] Ed : nice trading
scalp [08:18 am] scalpman : HOlding
1/4 CHPD S [08:19 am] scalpman :
thanks mike [08:21 am] scalpman :
All out [08:21 am] scalpman : CHPD
s [08:21 am] chinhngo : where is new
brinking tab [08:21 am] scalpman :
CPHD [08:22 am] scalpman : holding
1/2 on HLF S [08:22 am] taco : nice
trades scalp [08:24 am] scalpman :
Cover 2/3 APC S [08:25 am] scalpman
: Thanks taco! [08:26 am] scalpman :
cover 1/4 HLF S [08:28 am] scalpman
: 2 min SPY Sell signal [08:29 am]
scalpman : reducing FAST S [08:31
am] scalpman : reducing FAST
b.e. [08:31 am] scalpman : All out
FAST S b.e. [08:31 am] scalpman :
All out APC S [08:31 am] shawn : Ed:
has Wynn bottomed? [08:32 am]
scalpman : All out HLF – I am
flat! [08:34 am] reshef :
GTI [08:35 am] scalpman : ah…there
goes FAST. too impatient [08:36 am] Ed :
see if can get closing candle above
yesterdays clisng price, its a 50/50 trade
not high probability [08:37 am] Ed : one
good thing is can set it up for nice
tight stop if u take it, using low of candles
at 11:36est [08:39 am] reshef :
VLO [08:39 am] Ed : hope that helps
shwan [08:40 am] mikewd2 -: TSO also
reshef [08:40 am] mikewd2 -:
refiners [08:48 am] mikewd2 -: watching
MLNX for top [08:50 am] mikewd2 -: nice
call on CRI, missed my entry [08:52 am]
taco : MED is testing lows – dsr. swing
idea [08:53 am] mikewd2 -: wonder if MED
gets the new year weight loss resolution
bounce. [08:55 am] taco : hope so i
have stop at 24.75 [08:56 am] qwert
: cya sky [08:56 am] mikewd2 -: taco, you
have a stop market? or stop limit? [08:56
am] taco : limit [08:56 am] mikewd2
-: was wondering how that works on swings if
it gapped down say a buck what
happens. [08:57 am] mikewd2 -:
ok [08:57 am] taco : it starts
selling at one price i enter and finished at
a max -.02c lower which i entered [08:58
am] taco : i think.. [08:58 am]
taco : its small position too [08:58
am] joeytsa : wouldnt trigger if gaps
past price though right? [08:58 am]
scalpman : sell 1/2 VLO L [08:58 am]
taco : dont think so joey [08:59 am]
taco : which one triggers through a gap
down? [08:59 am] scalpman : All out
VLO L [09:00 am] mikewd2 -: stop market
would trigger i guess on gap down [09:00
am] mikewd2 -: also would it trade premarket
if stop is hit? or just during normal market
hours [09:00 am] mikewd2 -: this is what
i’ve always been confused on [09:00 am]
taco : bought /CL on dip sim. [09:02
am] scalpman : Sell 1/2 GTI S [09:02
am] mikewd2 -: anyone know the answer on
these swing stops? [09:02 am]
scalpman : sorry cover [09:02 am]
taco : i’ll call my broker n
ask [09:02 am] reshef : HD [09:03
am] mikewd2 -: thanks taco would love to
understand this. [09:03 am] mikewd2 -:
that’s why i dont’ put in stops on my swings
– ie standing stop [09:04 am]
joeytsa : stop-limits trigger at the
stop-price and then turn into a limit
order [09:04 am] scalpman : reshef
GTI good one! [09:04 am] mikewd2 -: right,
but would they execute during premarket on a
gap down? [09:04 am] joeytsa : but
it the stopprice isnt hit to trigger i
understand it to not be actice [09:05 am]
mikewd2 -: right, but again during normal
hours or include premarket? [09:05 am]
joeytsa : hmmm, that might be broker
specific? really not sure [09:05 am]
mikewd2 -: that was my concern, some of these
stocks move alot premarket and wouldn’t want
necessarily to dump during it. [09:06 am]
mikewd2 -: I asked Mitch several times about
how to handle this on DSR swings, but never
got an answer. [09:06 am] scalpman :
cover 1/4 GTI S [09:06 am] mikewd2 -: QCOR
lod [09:08 am] joeytsa : mike: the
danger is on a gap, then your stop would not
fill [09:08 am] mikewd2 -: so your saying
premarket prices do not count on your stop
price [09:09 am] joeytsa : sorry, i
mean if the stock just gaps without hitting
the trigger [09:09 am] taco : for
one of my brokers i have to set when the stop
is good for [09:09 am] mikewd2 -:
oh [09:09 am] scalpman : All out GTI
S.. [09:10 am] mikewd2 -: ok taco, so on
TS duration of trade, there is GTC and GTC+,
i assume that solves it. [09:10 am]
taco : good till cancel, good till
close? [09:10 am] taco : something
like that [09:11 am] mikewd2 -: likewise
on Etrade, they have GTC and you chose the
hours auto meaning normal hours, or ARCA
hours [09:11 am] mikewd2 -: great – i
think we got it now. [09:11 am]
scalpman : Time to go. Once again I was
playing catch up all morning…trading to
early. and making back most of my loss in the
2nd half. [09:11 am] joeytsa : enjoy
the weekend scalp [09:11 am] mikewd2 -:
have a great weekend scalp, [09:12 am] Ed
: have great weekend scalp [09:12 am]
taco : scalpman, keep spirits
up [09:12 am] qwert : cya
scalp [09:12 am] scalpman : I have a
big sign now on my computer…NO TRADES until
9:15 CST [09:12 am] apple : bye
scalp have a fun weekend [09:12 am]
scalpman : bye guys. [09:12 am]
scalpman : See you Monday is that a
half day [09:12 am] scalpman :
? [09:13 am] qwert : yes half
day [09:13 am] mikewd2 -: Mitch, can you
tell us how you handle stops on your DSR
swings. Do you use a stop that is active all
hours including premarket. [09:13 am]
mikewd2 -: and do you do
stop/limit? [09:16 am] scalpman :
Mitch: Do you use Lightning on a Daily
Chart? [09:17 am] scalpman : Thanks
qwert [09:20 am] taco : closed /Cl
sim position [09:20 am] mikewd2 -: Mitch
must have left the room, he isn’t answering
questions. [09:20 am] shawn : ed:
has NFLX Topped? [09:21 am] joeytsa
: nice one taco [09:21 am] taco : 20
pips i think [09:21 am] joeytsa :
yeah 20-25 ticks [09:26 am] mikewd2 -: CRI
hod [09:27 am] taco : looks like if
a stock gaps down a new exit price has to be
entered [09:27 am] taco : when a
stop or limit gets passed by [09:28 am]
joeytsa : makes sense [09:28 am]
murano : IRM [09:28 am] mikewd2 -:
KORS moving [09:31 am] mikewd2 -: AEZS
getting some vol again [09:31 am] mikewd2
-: just watching [09:37 am] mikewd2 -:
Schumer says that cliff deal is closer than
many believe, The Hill reports [09:38 am]
skydiver : thnx Mike for info [09:39
am] apple : thx mike, taking a little
break – back in a bit [09:39 am]
skydiver : enjoy apple [09:39 am]
joeytsa : have fun apple [09:39 am]
taco : c ya apple [09:39 am]
joeytsa : thx for the info
mike [09:41 am] taco : s YONG
5.62 [09:42 am] taco : stop
5.67 [09:42 am] taco : 5.53
target [09:43 am] mikewd2 -: taco where
you get shares at? [09:43 am] taco :
IB [09:44 am] mikewd2 -: ty [09:50 am]
taco : moved my stop to 5.71 don’t like
doing this [09:51 am] taco :
stopd [09:52 am] mikewd2 -: yeah not a
good idea taco, be disciplined. [09:52 am]
chinhngo : watch qcor [09:52 am]
taco : thanks mike [09:55 am]
joeytsa : taco: giving yourself a 1:1
r/r is a tough way to go [09:57 am]
taco : right, because i was on the
lower end of the range there right? [09:58
am] taco : and my stop was so
high [09:58 am] joeytsa : i wasnt
just looking at it from your entry,target and
stop [09:58 am] joeytsa : 2nd stop i
mean [09:59 am] taco :
right [09:59 am] joeytsa : original
stop was a 2:1, but personally thats way to
tight a range to trade [10:04 am] mikewd2
-: Baker Hughes reports U.S. rig count down
11 to 1763 [10:04 am] joeytsa : need
some news to waken traders up [10:04 am]
chinhngo : what mean stop was 2;1 mr
joy [10:06 am] joeytsa : chin: its
when your profit target is twice the stop,
using 10cents for a profit target while only
risking 5cents for example [10:09 am]
chinhngo : thank joy [10:09 am]
chinhngo : i learn a lot today thank
all [10:10 am] lisas : Anyone using
Tradestation futures account to get the CME
fee waiver with Kinetick? [10:26 am]
joeytsa : lunchtime, see you in
30 [10:27 am] jsn13 : ed, did u take
M short? [10:30 am] Ed : yes im in
it [10:30 am] skydiver : me too . .
🙂 [10:30 am] mikewd2 -: me
three [10:30 am] lisas : me
sim [10:30 am] skydiver : nice
🙂 [10:30 am] jsn13 : where was ur
entry? [10:31 am] mikewd2 -: mine was
38.00 [10:31 am] Ed : 37.97 [10:31 am]
skydiver : mine 37.96 [10:31 am] Ed
: nice netry mike [10:31 am] lisas :
me too [10:31 am] skydiver : nice
mike [10:31 am] jsn13 : what time r
ur entries? [10:31 am] taco : me
four at 37.94 [10:32 am] Ed : 1:21
est [10:32 am] mikewd2 -: 1:21 is when i
got in also ed [10:32 am] jsn13 : ok
so where is ur 1st target? [10:33 am]
skydiver : I was slow 1:22 is when I
shorted it [10:34 am] skydiver :
just bounced up a bit old M [10:34
am] mikewd2 -: well i’m out 37.79, my matrix
hung up as i was trying to lower
target. [10:34 am] jsn13 : it is not
moving down fast, the volume hinted that it
is not going down much,,,, [10:35 am]
jsn13 : not sure if i have the analysis
right… [10:37 am] skydiver : be
back in 5 minutes . . at office and have to
open some offices up [10:38 am]
jsn13 : ed, once u r done, i would like
to know how u handle M after
entering…thanks… [10:39 am] mikewd2 -:
back in 38.00 [10:40 am] Ed : just place
entry and place stop, and let the action take
its course [10:41 am] Ed : its more
patient trade [10:41 am] jsn13 : did
u adjust it to BE? if yes, when, if no why?
How to be flexible? why should we be patient
in this case? when not to be
patient? [10:42 am] jsn13 : sorry to
bombard u with all the questions….i have
been thinking of asking thses question since
long ago…this looks like a perfect setup
for me to ask them…. [10:42 am] Ed :
will do my best to respond, like asking when
you were driving and saw the kid why did you
swerve right instead of left [10:43 am] Ed
: in other words have to think about
it [10:43 am] jsn13 : ok
sure…. [10:44 am] jsn13 :
sometimes i see u reverse the trades when
they hold up, this time i see u give it more
patience…was wondering if it is bcuz u have
great setup, strong resistance or good
signals or other reasons… [10:45 am] Ed
: best thing i can say is u know what hod is,
and u look for short signal, if high is not
take out time ur in trade, lets u kow has
chance of working for you, and if u get drop
act accordingly like taking profits,
if u dot get chance to take profits on
drop, and heads high, u focus on hod, if does
not take it out, look for lower
high [10:45 am] Ed : if it takes out high,
all bets are off, trade that just did not
work out [10:45 am] Ed : this is where
focusing on big pic is key [10:46 am] Ed :
not if ur losing money but what is chart
saying [10:47 am] mikewd2 -: great my TS
crashed [10:47 am] lisas : jsn, if
you use a momentum indicator, you can see
that while this looked like it might make a
leg higher, the momentum was decreasing, so
ok to give it time [10:47 am] Ed : thats
why mike took another shot at it [10:47
am] chinhngo : QCOR TREND UP
NICELY [10:47 am] jsn13 : so u have
not take profit on part of ur
position? [10:47 am] lisas : Mike,
did you do the recent upgrade on
TS? [10:47 am] Ed : out and back at
it [10:47 am] Ed : out at 1st
drop [10:47 am] mikewd2 -: yes [10:47
am] mikewd2 -: did you lisas? [10:48 am]
lisas : I did the upgrade last week and
had problems for a couple days, but windows
also updated about the same time, so wasn’t
sure which it was. TS has been fine for me
today [10:48 am] mikewd2 -: it hit my
target i’m out [10:48 am] skydiver :
just got back . .. all out of M [10:48 am]
skydiver : short [10:48 am]
jsn13 : ok cool ed…ur explanation
gives me a different perspective…thanks
alot… [10:48 am] mikewd2 -: covered
37.75 [10:49 am] jsn13 : mike, u
covered at the peak volume bar? [10:49 am]
mikewd2 -: i had a target and my TS hung up
so it went during that candle [10:49 am]
mikewd2 -: i always place stop and target and
then manage in matrix [10:49 am]
jsn13 : ok nice….if it did not hung
up, where would u exit? [10:50 am] mikewd2
-: 37.75 was first entry and was going to
manually move it down and stop down [10:50
am] mikewd2 -: but didn’t get
chance [10:51 am] jsn13 : ok i think
u caught a great price…. [10:51 am]
mikewd2 -: yeah, lucky again [10:51 am]
jsn13 : haha…nice one… [10:51
am] mikewd2 -: lisas, don’t think i have the
update yet. tried but i remember it
crashed. [10:52 am] jsn13 : thanks
lisa for the explanation just now…..very
helpful…. [10:56 am] lisas : jsn,
knowing if I should give a trade more time
requires some descretion. I’ve found watching
the momentum and volume helpful, as well as
overall market action at the time. Never
hurts to protect your capital if a trade
doesn’t do what you expected. [10:56 am]
lisas : Mike, mine did update, and so I
have update 13. [10:56 am] jsn13 :
when u said volume, what kind of behaviour r
u looking for? in this case, how do u read
the volume? [10:57 am] reshef :
XOM [10:57 am] mikewd2 -: SPY selling
off [10:58 am] apple : back from
break [10:58 am] lisas : did you see
how volume jumped at about 1300 est?
Hopefully you have a volume indicator that
has red and green bars, but look at Ed’s
chart. See how you got some larger selling
volume bars eventually, then on second leg up
to retest HOD, the volume bars up were lower
than initial volume bars starting at
1300 [10:58 am] taco : covered 2/3
M [10:59 am] jsn13 : ya i have
it… [11:00 am] taco : all
out [11:00 am] jsn13 : how bout the
down volume? do u care how the volume is like
when it was coming down? [11:01 am]
taco : /CL dropping [11:02 am]
lisas : Not so much, but then I’m
looking for predictive levels for targets,
and trailing stop down to support and
resistance levels. I have a momentum
indicator also that I watch and if it
continues to increase momentum in my
direction, I try not to trail too
close. [11:02 am] lisas : with
Lightning now, I’m looking at that
also [11:02 am] jsn13 : u mean the
indicator called Momentum
Indicator? [11:03 am] lisas : There
are a variety of momentum indicators,
momentum is one, MACD is another, [11:03
am] jsn13 : whta do u use? [11:04
am] lisas : I used MACD and a
proprietary one I purchased [11:04 am]
jsn13 : ok thanks…. [11:04 am]
jsn13 : where was ur 1st
target? [11:04 am] lisas : so right
now, Lightning is showing down trend is
slowing, so moving my last portions trailing
stop down [11:04 am] jsn13 : and now
what do u use to trail? [11:05 am]
lisas : It was about 10 percent, or a
50% retracement. On M, I used 37.60. I’m sim
and not trading it as carefully as I normally
would [11:07 am] lisas : I’ve moved
it to 37.66. A few cents above most recent hi
candle [11:08 am] lisas : Actually
taking off now, more wedding arrangements to
make for son. Have a great weekend
all! [11:08 am] Ed : c ya lisa [11:08
am] murano : lisas, I use MACD
also. You have a MACD you
purchased? [11:08 am] taco : bye
lisa [11:08 am] qwert : bye lisa
have a great weekend [11:08 am]
victor51 : Hi Lisas Do you use
Bollinger retracement levels all the time for
target or something else. [11:08 am]
jsn13 : take care lisa thanks for ur
advices…. [11:08 am] apple : have
fun lisa [11:09 am] jsn13 : ed, when
u trade CL, do u look at SPY? [11:09 am]
lisas : Victor, no, can explain more in
email if you like. JSN, do you have
lightning? It’s good for keeping you in a
trade [11:10 am] victor51 : Have
agreat time at wedding Lisas [11:10 am] Ed
: no, I look more at currencies when I trade
CL [11:10 am] jsn13 : ok understand
lisa..but it is not very good when dealing
with fat mover… [11:10 am] jsn13 :
did u take the ?CL long? [11:11 am]
jsn13 : /CL [11:11 am] Ed : no not
trading CL today [11:12 am] jsn13 :
ed, so what currencies do u look at for
correlation when trading /CL? [11:12 am]
Ed : eur/usd and any of AUD and CAD
correlations [11:14 am] Ed : meant AUD and
CAD pairs [11:14 am] taco :
HLF [11:14 am] taco : quick drop
down [11:15 am] jsn13 : like
6E? [11:15 am] Ed : i like using
pairs [11:15 am] Ed : just my
preference [11:17 am] jsn13 : ok
thanks ed… [11:18 am] jsn13 :
qwert, r u here? [11:19 am] qwert :
yes m here [11:20 am] jsn13 : did u
have any /CL trades today? [11:20 am]
qwert : no only NG this am
early [11:21 am] joeytsa : that was
a nice move qwert [11:21 am] jsn13 :
ok no prob….where idid u get in on the /NG
trade? [11:21 am] qwert : yeah i
didnt get all of it but a nice move [11:22
am] joeytsa : i missed it because i
hadnt changed contracts and didnt see
it [11:22 am] joeytsa : until you
mentioned that move premarket [11:22 am]
qwert : i went long off that double
bottom seems to be the best and easiest
entry [11:23 am] joeytsa : plus it
had positive divergence on macd,stoch,and
%r [11:23 am] joeytsa : very low
risk trade [11:23 am] qwert : my
favorite kind [11:23 am] joeytsa :
🙂 [11:24 am] jsn13 : ok
thanks…what do u look for correaltion when
u trade /CL and /NG? [11:25 am]
jsn13 : qwert, i meant
correlation… [11:26 am] qwert : i
dont just watching it on lightning and love
the double bottom or top for entry [11:26
am] qwert : still really a newbie on
the futures [11:27 am] skydiver :
HLF is going up against the downward move of
market 🙂 [11:28 am] jsn13 : thanks
qwert….nice to know what is working for
u…i’m a new newbie….haha… [11:28 am]
jsn13 : i mean in futures… [11:29
am] qwert : wow huge bounce in the
CL [11:29 am] joeytsa : yeah 30+
ticks [11:30 am] skydiver : guess
I’m going to have to bite the bullet and
start learning futures 🙂 [11:30 am]
joeytsa : just got sell signal on
/CL [11:30 am] apple : nice, did you
guys grab it? [11:30 am] jsn13 :
qwert, is that considered ur favourite setup
on /CL? [11:31 am] qwert : yeah so
far also easy to recognize [11:31 am]
jsn13 : qwert, where was the double
bottom on /NG that u said u took
it? [11:31 am] jsn13 : what
time? [11:32 am] joeytsa : it was
early jsn, just before 5am pdt [11:32 am]
apple : nice double bottom on 2
min [11:32 am] qwert : this am at
5:07 am pst [11:33 am] jsn13 : was
that a higher low or double bottom? I’m
looking at NG 02-13 contract [11:35 am]
qwert : i think it was a slightly lower
low [11:36 am] joeytsa : lightning
gave a lower low, price was basically a dbl
bot [11:36 am] joeytsa : it was also
darvis support [11:37 am] jsn13 :
ok…nice volume on the bottom… [11:37
am] jsn13 : so, joey, u r looking at NG
02-13 right? [11:37 am] joeytsa : i
dont use vol on futures [11:37 am] mikewd2
-: i expect a sale off soon today, else will
be supprised [11:37 am] joeytsa :
yeah jsn [11:37 am] murano : If you
took IRM short, I would cover most
here [11:38 am] joeytsa : once
lightning gave that buy signal it was a great
r/r trade [11:38 am] qwert : yeah
was watching NG on 4r [11:38 am]
joeytsa : Mitch: NG 2-13 around
5am pdt [11:39 am] joeytsa : good
point qwert, im watching 5R [11:39 am]
qwert : actually have thr 5r right
above to see both [11:40 am] joeytsa
: even with a 10t stop loss, you had anywhere
from 2-5:1 r/r depending on what you saw as a
profit target [11:40 am] jsn13 : ok
thanks joey… [11:41 am] joeytsa :
expecting a sell signal on /PL soon, not sure
its tradeable..maybe 5-10 ticks? [11:41
am] qwert : joey what time frame are
you watching CL on [11:42 am]
joeytsa : 4R on /CL [11:42 am]
qwert : im using 250V [11:42 am]
joeytsa : 5R on NG,GC,PL [11:42 am]
joeytsa : you can go crazy trying all
the options haha [11:43 am] joeytsa
: nice Mitch [11:43 am] qwert : wow
nice [11:43 am] joeytsa : looks like
a swing trade to me haha [11:45 am]
joeytsa : i get nervous with using too
long of a setting [11:45 am] joeytsa
: futures can explode quick [11:45 am]
apple : hmm, very
interesting… [11:46 am] joeytsa :
especially around a report or breaking
news [11:46 am] qwert : Mitch do you
recommend changing the setting t a longer one
when you get ahead in a trade like NG this
am [11:46 am] qwert : okay
thx [11:47 am] joeytsa :
Metacrawler? [11:47 am] Ed : back then
Mitch tradestation was 7500 basic and 10k for
other version [11:49 am] joeytsa : i
used to guess by looking at level 2 and
delayed charts from bigcharts.com
🙂 [12:00 pm] joeytsa : keeping an
eye on ES levels 1403,1405 [12:01 pm]
joeytsa : /GC in a support area, just
watching [12:10 pm] apple : agree
MK. always good to do [12:10 pm]
joeytsa : agreed, definately have to
have a stop [12:11 pm] apple : joey,
did you grab GC off that low? [12:11 pm]
joeytsa : no i didnt [12:12 pm]
mikewd2 -: sure would like to understand stop
position on swings – lol [12:12 pm]
qwert : always always have to have a
stop ilearned that the hard way long
ago [12:12 pm] joeytsa : was coming
off a lower high, might look for a short on
next lower high, but time running
out [12:15 pm] mikewd2 -: Cliff impsase
doesn’t affect the US credit rating [12:15
pm] apple : jump in SPY [12:17 pm]
taco : looks like trend change in
HLF [12:20 pm] apple : nice 3 pt
bounce on /Es [12:26 pm] apple :
AAPL woke up [12:28 pm] victor51 :
Joey, is Monday full day or 1//2 day
trading? [12:29 pm] joeytsa :
someone mentioned earlier that it was a half
day [12:29 pm] joeytsa : i honestly
didnt know [12:31 pm] Ed : full day on
monday [12:31 pm] apple : thx E,
good to know [12:31 pm] joeytsa :
thats what i thought, wasnt sure [12:31
pm] joeytsa : still might make it a
half day though 🙂 [12:31 pm] Ed :
but ur on ur own on Jan 1 [12:31 pm]
apple : /GC had a really nice move off
the bottom [12:31 pm] joeytsa : hard
to trade and watch bowl games at same
time [12:31 pm] Ed : true [12:32 pm]
apple : watch bowl games joey…
enjoy [12:32 pm] joeytsa :
independence bowl on now, few others
later [12:32 pm] qwert : so sorry i
thought i had read that it was half day
just double checked and it is a full
day [12:33 pm] victor51 : thanks Ed.
Nice trade on HLF sim. Did you take
it? [12:33 pm] joeytsa : qwert
trying to get off early haha [12:33 pm] Ed
: no did not take it [12:33 pm]
apple : for good behavior [12:33 pm]
qwert : yep thats what i told the slave
driver er wife [12:34 pm] Ed :
ahhhhhhhh [12:34 pm] joeytsa :
🙂 [12:34 pm] apple : laura is cool,
how’s she doing [12:34 pm] qwert :
shes doing great shees happy our son is here
so the family is complete [12:34 pm]
apple : you guys are just too, too
funny [12:34 pm] apple : great to
hear [12:34 pm] joeytsa : did she
quit trading? [12:35 pm] qwert :
shes taking a break from her apple
trade [12:35 pm] joeytsa : oh
ok [12:35 pm] apple : good, because
AAPL has been comatose [12:36 pm]
qwert : yeah thats why and the options
were pricey [12:38 pm] apple : is
someone speaking now on news? [12:38 pm]
apple : thx E [12:39 pm]
skydiver : sounds like clilff
time [12:39 pm] mikewd2 -: markets
dieing [12:39 pm] joeytsa : got your
parachute sky [12:39 pm] skydiver :
yep 🙂 [12:39 pm] shark :
yeah [12:40 pm] skydiver : floating
down safely now 🙂 [12:40 pm]
joeytsa : quick trade on ES [12:40
pm] apple : ha [12:40 pm]
apple : good for you joey [12:40 pm]
shark : nice joey [12:40 pm]
apple : oppty for those guys to cover
their shorts [12:41 pm] mikewd2 -: stocks
drop – obama not making a new cliff
offer [12:41 pm] mikewd2 -: my way or
highway! [12:42 pm] taco : have a
great weekend all. thanks Mitch Ed and
all [12:42 pm] Ed : c ya taco [12:42
pm] skydiver : take care taco –
enjoy [12:42 pm] joeytsa : bye
taco [12:42 pm] apple : bye taco
have fun [12:42 pm] shark : bye
taco [12:43 pm] joeytsa : when you
get news that moves the /ES, you
usually also get a similar move on the /YM
and /TF [12:44 pm] mikewd2 -: UVXY has had
a 10 point 60% run up last few days – wonder
if garyb is making money [12:44 pm]
apple : nice mike [12:45 pm]
joeytsa : eddy played UVXY a lot
too [12:45 pm] joeytsa : gary really
like TNA and the reverse one [12:45 pm]
skydiver : anyone know how eddy is
doing? [12:45 pm] shark : VIX not
too bad either [12:45 pm] mikewd2 -: yeah,
TZA [12:45 pm] joeytsa : yeah thats
it [12:45 pm] apple : haven’t talked
to him sky, will email him [12:46 pm]
mikewd2 -: i talked to him a couple weeks
ago, said he was still trading some [12:46
pm] apple : imiss eddy [12:46 pm]
mikewd2 -: that was garyb i was talking
about [12:47 pm] mikewd2 -: also talked to
eddy the other day – i think he is done with
day trading [12:47 pm] skydiver : ok
– thnx for the info on eddy — was wondering
— saw him on facebook with his son the other
day [12:48 pm] apple : i miss gary
as well [12:48 pm] joeytsa : nice
pullback on AAPL [12:49 pm] shark :
AAPL 1% -UVXY 4% [12:50 pm] apple :
i use tradestation. lisa had to leave
earlier [12:50 pm] apple : don’t
know. will check it out. [12:52 pm]
apple : everything dropping SOHU was
moving [12:53 pm] apple : very nice
MK [12:53 pm] jsn13 : Mitch do u
have 3 IB accounts and 3 Ninjatrader’s
licenses? [12:54 pm] qwert : Bye
everyone have a great weekend cya all
on Monday morning [12:54 pm] jsn13 :
waive 2 datafeeds with just 1 license and 1
IB live funded account? [12:54 pm]
joeytsa : bye qwert [12:54 pm] Ed :
c ya qwert [12:54 pm] joeytsa :
Thanks Mitch,Ed, everyone..enjoy the weekend,
see you monday [12:54 pm] Ed : cya
joey [12:54 pm] apple : bye qwert
have fun with your family [12:55 pm]
apple : bye joey have fun [12:55 pm]
joeytsa : 🙂 [12:55 pm] shark
: got the video, thx Mitch! [12:55 pm]
jsn13 : i mean can u waive 2 datafeeds
with 1 NT license and 1 IB live funded
account? [12:55 pm] shark : bye
joey! [12:55 pm] skydiver : have a
nice week everyone — see ya monday [12:55
pm] joeytsa : welcome back
shark [12:55 pm] skydiver :
week-end [12:55 pm] apple : thx MK,
E and everyone. have a wonderful
weekend. [12:57 pm] shark : thx
Mitch, Ed, everyone 🙂
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