[06:18 am] Kris : good morning traders
[06:19 am] Ed : good morning
[06:22 am] Brent : good morning
[06:22 am] Mitch K: i will follow the
indicators, i will follow the indicators
…….[06:30 am] Kris : PFE long half
[06:31 am] Kris : CVX long half
[06:31 am] Mitch K: watching ELN for bottom;
be patient
[06:33 am] Kris : CSTR long half
[06:34 am] Kris : will watch GMCR for a
pullback to take long
[06:34 am] Mitch K: consider selling half of
ELN if long
[06:35 am] Kris : watching RIMM for a
short
[06:35 am] Mitch K: sorry forgot to mention
MJN bounce, late now
[06:35 am] Mitch K: watching for top in MDT
to short, soon
[06:36 am] Mitch K: ELN worth selling short
soon, consider selling remaining long
[06:36 am] Mitch K: watching PANL for
bottom
[06:36 am] Mitch K: watching PXD for short,
soon
[06:37 am] Mitch K: watching for bottom to
buy in FOSL, late to see
[06:37 am] Mitch K: watching SPRD for top to
short
[06:38 am] Brent : watching ANR for a
short
[06:39 am] Mitch K: consider covering ELN if
you went short, try 13.50 area
[06:39 am] Mitch K: watching HCA for top to
short
[06:40 am] Mitch K: ANR toppy, looking for
short
[06:40 am] Mitch K: MJN toppy, consider
selling if long
[06:40 am] Mitch K: try 19.94 for ANR
short
[06:41 am] Kris : DMND strong again, we could
get another pop like the last couple days
[06:41 am] Mitch K: watch FOSL for top to
short, missed the bottom to buy
[06:43 am] Kris : SPY testing lod[06:43 am]
Mitch K: ZAGG toppy, looking for short
[06:44 am] Mitch K: ZAGG for more advanced
traders
[06:45 am] Mitch K: indexes at low of day so
far
[06:45 am] Mitch K: looking for around 38
area on MDT short, may take a while though
[06:46 am] Kris : if you have DMND long look
for resistance around 33.00 to 33.30
[06:46 am] Kris : watching CREE for a
short
[06:46 am] Mitch K: FOSL topped out, turning
over
[06:48 am] Mitch K: watching DECK for top to
short, missed bottom, not looking for huge
percentage profit
[06:50 am] Kris : SODA looking like a dog
today
[06:51 am] Brent : SPY at trendline
resistance
[06:53 am] Kris : GRPN looking weak against
the market
[06:53 am] Kris : SPY testing hod[06:54 am]
Mitch K: watching CBOE for bottom to buy
[06:58 am] Kris : volume starting to get
shrinkage
[08:28 am] Mitch K: how did you do with DECK
short?
[08:29 am] Mitch K: how about that PANL
bottom earlier, anyone go after that?
[08:47 am] Mitch K: PANL not ready to short
yet tony
[08:59 am] Kris : SPY still holding up today.
Not much profit taking from the last run off
the lows of 12/19
[09:00 am] Kris : starting to consolidate a
little on the daily. If we close above
124.80 we might be setting up for a breakout
next week over 127.00
[09:00 am] Mitch K: looking for 35.80 on PANL
short 1st target
[09:01 am] Kris : GMCR just trending down
Raelyn, not a trade there.
[09:02 am] Kris : GMCR in a fairly tight
range the past 10 sessions.
[09:03 am] Kris : and an alert just over
43.00 for a break below 43.00
[09:03 am] Kris : I would set an alert just
under 47.00 for a break over 47.00
[09:03 am] Kris : when one side wins there
should be a substantial move in that
direction.
[09:18 am] Mitch K: LEAP trending all day
[09:35 am] Mitch K: new high on LEAP
[09:36 am] Mitch K: trending stocks you try
to buy on the dip unless early part of the
move up
[10:18 am] Mitch K: GOOG had new price target
by analyst, i think 750
[11:01 am] Brent : VRUS moving
[12:59 pm] Ed : have a wonderful weekend and
Happy New Year
[01:00 pm] Brent : have a great weekend, see
you on Tuesday
[01:22 pm] Mitch K: Happy New Year!
|
[06:19 am] joeytsa : Ford topped 2m vehicle
sales this week, first time since 2007
[06:19 am] joeytsa : stock dropping
though…
[06:20 am] shark : it’s all about future
sales…
[06:25 am] mikewd2 -: Surprise: Spain’s 2011
deficit to exceed target, AP reports
[06:25 am] joeytsa : apple: you use
Xtend?
[06:26 am] apple : no, what is that?
[06:26 am] joeytsa : thought you did…it’s
the optionsxpress trade platform
[06:26 am] apple : i have, now that you
remind me
[06:26 am] joeytsa : thought so
[06:27 am] joeytsa : just firing it back up
after a few months…gonna see what that’s
all about
[06:27 am] apple : i should do the same,
it’s been awhile
[06:29 am] joeytsa : AAPL should have some
action today, maybe a few other higher priced
stocks
[06:29 am] joeytsa : be nice to get one of
those “rumor” stocks today
[06:30 am] apple : on my wish list
[06:31 am] joeytsa : Raytheon books $50M in
electronic warfare contracts
[06:34 am] joeytsa : AMZN doing a little
moving
[06:35 am] apple : thx, MK, we noticed
MJN
[06:37 am] rusty : RAYS lod[06:39 am]
skydiver : S ANRN 20.01
[06:43 am] ryhghs3tsa -: hi Mitch, when you
can – what service provides the charts you
are showing?
[06:44 am] Kris : esignal ryhghs[06:44 am]
apple : it’s esignal[06:44 am] rusty : MOSY
radar
[06:44 am] rusty : MOSY radar
[06:44 am] joeytsa : watching CP also..not
huge vol[06:48 am] joeytsa : CP running on
some type of news
[06:48 am] joeytsa : not usually a big
mover
[06:48 am] joeytsa : CRM nice again
[06:48 am] Kris : it can make some big moves
joey
[06:48 am] rusty : Benchmark Co. says the
$35M MoSys (MOSY) received for the sale of 73
patents to a Tessera (TSRA) unit is much
higher than expected. The firm reiterates a
Speculative Buy rating on MoSys shares with a
$7.50 price target
[06:49 am] mikewd2 -: Ackman calls on CP to
hire former Canadian National CEO, Globe and
Mail says
[06:49 am] rusty : DMND radar
[06:49 am] rusty : DMND radar
[06:49 am] apple : DMND moving fast
[06:49 am] Brent : Nice call on DMND
Kert[06:53 am] rusty : watch KUTV for
daytrader panic buying
[06:54 am] rusty : ECYT Jan effect play
hod[06:55 am] joeytsa : playing the “C’s”
today..CP,CF,CRM,CLF[06:55 am] skydiver :
I’m with you in CP joey
[06:56 am] skydiver : CP dropping nicely
🙂
[06:56 am] joeytsa : yeah sky: want CP to
break $67
[06:57 am] skydiver : I’m with you on that
joey
[06:57 am] shark : AAPL doa today, joey
[06:58 am] michael : rusty, I’m using 2.84
as a level to be short RAM today
[06:58 am] joeytsa : yeah shark..jumped
quick..pinning at $405?
[06:58 am] apple : beware
[06:59 am] sfarrill : means the markets
getting cold
[07:00 am] joeytsa : i would think today
would be really slow…people get an early
jump on the long weekend?
[07:00 am] Kris : you know it’s a slow day
when you think your scanner is broken
[07:00 am] joeytsa : hahaha[07:00 am] Kris :
probably the slowest day of the year
[07:03 am] joeytsa : there goes AAPL
shark
[07:03 am] skydiver : aapl – up up and
away
[07:04 am] joeytsa : the CL trending up
also, up $1 from the low
[07:04 am] shark : there she goes…….
[07:05 am] apple : nice consolidation on
AAPL
[07:08 am] mikewd2 -: SINA heading south
[07:08 am] davidr : is dmnd worth shorting
it went up last night sorry yesterday and
came down any comments?
[07:08 am] rusty : TLT hod[07:10 am]
skydiver : covered 1/2 CP 67.06
[07:10 am] shark : DMND consolidating
here
[07:11 am] shark : been strong for 3rd day
now
[07:11 am] shark : upward bias, davidr[07:14
am] joeytsa : nice trading sky
[07:14 am] skydiver : Covered last 1/2 CP at
67.02
[07:15 am] apple : good job sky
[07:15 am] joeytsa : tighten stop on CF if
short
[07:16 am] shark : 45% shares short on
DMND
[07:16 am] skydiver : thanks for info shark
on DMND
[07:17 am] skydiver : Even news source Fly
on the Wall is very slow today
[07:18 am] joeytsa : a little slow, but
enough movement to pay the mortgage
[07:18 am] shark : you paid your mortgage
today, joey???
[07:19 am] davidr : hi shark as I am new how
do you know 45% shares are short
[07:19 am] joeytsa : 🙂
[07:19 am] shark : that’s from CNBC report
as of yesterday
[07:21 am] joeytsa : honestly, every
day..but especially days like today, it’s not
about how much you can trade..it’s about
getting the most out of your good ideas
[07:23 am] mhaus shark, david, if you went
long on DMND early this morning, you would
have made decent money
[07:23 am] shark : oh yes!
[07:34 am] southernky : what stochastic
setting do you guys use
[07:34 am] victor51 : Joey, you said it so
well. i am just reaffirming my indicators
move and not really trading today.
[07:35 am] joeytsa : victor: why force
something that isn’t there..if something
happens great..if not, oh well
[07:35 am] joeytsa : southernky: i use the
ones that Mitch has on his charts
[07:36 am] skydiver : So do I southernky 8 7
6
[07:36 am] apple : 8, 7, 6
[07:36 am] mhaus : K8, S7, D6
[07:36 am] skydiver : I also keep one screen
up with 6 5 4
[07:37 am] skydiver : 6 5 4 good on fast
moving stocks
[07:38 am] michael : now me, I’m still a
10,7 kinda guy on the 2 minute
[07:38 am] joeytsa : it’s all what you get
used to
[07:38 am] southernky : ok i only have fast
and slow stochastic
[07:38 am] southernky : only 2 numbers
[07:38 am] joeytsa : indis are lagging, just
a tool
[07:38 am] skydiver : what platform are you
using southernky?
[07:39 am] southernky : scottrade[07:39 am]
skydiver : got ya southernky[07:40 am]
southernky : i am using 8 and 6
[07:40 am] southernky : thanks guys
[07:40 am] joeytsa : that should be fine,
don’t drive yourself crazy looking for
utopia
[07:41 am] southernky : ok
[07:46 am] southernky : are you guys using 9
12 and 26 on your macd[07:46 am] mikewd2 -:
is the markets open all day?
[07:46 am] apple : yes mike
[07:50 am] rusty : SLV and GLD just off
hod…ty CNBC for telling us to short
yesterday
[07:52 am] mhaus : southernky, in scottrade
use stochastics slow. That will give you the
3 settings
[07:52 am] southernky : ok but i don’t see
it mhaus[07:53 am] southernky : it only
gives me 2 time periods
[07:53 am] mhaus : Are you using the java
platform?
[07:53 am] mhaus : I am logged in Scottrade
and I see the 3 settings
[07:54 am] southernky : ok how to i use the
java platform
[07:54 am] southernky : maybe i need a
update
[07:54 am] mhaus : I am live on their
website
[07:55 am] southernky : is it for the macd
or stochastic
[07:55 am] lightning : I guess tough
economic times are good for some companies:
Constellation Brands CEO says alcoholics
beverage business “very robust”
:theflyonthewall.c[07:56 am] mhaus : macd is
9,26,12
[08:02 am] rusty : SIN stocks
http://www.usatoday.com/money/perfi/columnist
/krantz/story/2011-12-20/sin-stocks-long-term
-performance/52129024/1
[08:04 am] mhaus : watching NFLX
[08:06 am] skydiver : thnks for heads up on
NFLX mhaus[08:21 am] lightning : watching
ITMN
[08:23 am] zentrader : does market close at
1pm today?
[08:24 am] apple : open all day
[08:24 am] apple : closed on mon[08:27 am]
victor51 : Rusty, Interesting article for me
as I own large chunk of one of the sin
stocks
[08:28 am] lightning : bad then good on
DECK, so net positive
[08:29 am] apple : yes, thx for PANL
[08:34 am] joeytsa : very nice move on PANL,
good call
[08:38 am] go4it : Mitch; Based on
indicators what time was best entry for
PANL?
[08:38 am] tonyliu : Mitch, I was out PANL
very early cuz I think it was at the top. Now
how’s short?
[08:39 am] shark : DMND moving slightly on
anemic vol*** Brent has added a new file
into the Documents folder. 2012 Stock Market
Holidays.pdf
[08:40 am] Brent : Holiday calendar courtesy
of mhaus, in documents folder
[08:47 am] tonyliu : Thx Mitch, it suddenly
went up again
[08:57 am] michael : RAM won’t be happening
for me, no short shares at LS
[08:58 am] rusty : ok maybe it will work out
for the best…it needs a good spike to
exhaust it
[08:59 am] rusty : sometimes the setup never
occurs – just have to be patient
[08:59 am] michael : after I checked on
short shares, I didn’t watch it until a bit
ago. would have been great long
[08:59 am] thomasohana : GMCr dropping
[08:59 am] rusty : sure in retrospect but I
wouldn’t chase it here….you could but it’s
not my style
[09:00 am] rusty : I prefer to wait like a
sniper
[09:02 am] rusty : RAYS a good example
[09:02 am] rusty : often looks like a long
until suddenly it doesn’t
[09:03 am] apple : that’s right…
[09:04 am] joeytsa : CF still playing
nice
[09:05 am] thomasohana : ok Kris got it
[09:05 am] apple : missed it joey
[09:05 am] rusty : RAM taking off a bit
[09:05 am] rusty : aided by short covering
no doubt
[09:06 am] rusty : as early shorts start to
capitulate
[09:07 am] skydiver : Leap wireless
potential acquisition target amid speculation
on where AT&T and T-mobile can get
additional spectrum on bandwidth
[09:08 am] skydiver : yesterday news from
fly on the wall
[09:08 am] lightning : stopped PANL
[09:08 am] apple : thx for yesterday’s news
sky
[09:09 am] skydiver : nothing like “fresh”
news 🙂
[09:10 am] shark : yesterday’s news, today’s
move! 🙂
[09:18 am] apple : very nice on LEAP
[09:18 am] skydiver : I need to start a
“rumor” to get stocks moving – like GM moving
auto plants down to equator for cheap labor
by the pygmies — something like that
[09:19 am] joeytsa : LEAP a nice $ and %
move
[09:20 am] joeytsa : BIDU hod[09:25 am]
skydiver : I should have shorted V at
opening – oh well
[09:26 am] skydiver : clear hind site
[09:36 am] apple : while everyone is still
here, i want to wish all of you the very best
for the new year: health, joy and prosperity
(and consistency!).
[09:36 am] shark : nice one, Mitch
[09:36 am] joeytsa : same to you apple 🙂
[09:36 am] shark : ditto, aaple! 🙂
[09:37 am] mhaus : wish the same for you
too, apple
[09:37 am] michael : wishing you all the
best apple
[09:37 am] shark : DIA lod[09:38 am] apple
: 2012 is going to be our year!!!
[09:38 am] shark : YEAH!!!!!!
[09:38 am] skydiver : Happy new year to you
as well apple and everyone else. May it be
the best yet
[09:39 am] joeytsa : forbes article :
European banks have $10T in claims against US
rivals
[09:39 am] michael : it’s a great time to
look back and see how far you came in a
year
[09:39 am] apple : it is, michael, come a
long way
[09:41 am] joeytsa : small incremental steps
for new traders too
[09:42 am] apple : consistency is the key
[09:42 am] joeytsa : 15cent move on
1000shares makes you more than most
teachers
[09:42 am] joeytsa : which is sad
[09:43 am] joeytsa : i mean daily on the
above post
[09:44 am] michael : never has been right
joey, educators make nothing, sports figures
and entertainers make bank
[09:45 am] shark : and they don’t seem to
have to set a good example any more,
either
[09:45 am] apple : because in this country
we do not put the emphasis where it needs to
be — education!
[09:45 am] joeytsa : right on michael and
shark
[09:45 am] joeytsa : the education system is
busted
[09:45 am] joeytsa : needs complete
overhaul
[09:45 am] skydiver : agreed joey
[09:45 am] shark : GOOG new hod[09:45 am]
apple : shark – you can say that again. do
something wrong, go to jail, come back out
and sign a deal for more millions…
[09:45 am] michael : speaks volumes for the
priorities in our country
[09:46 am] apple : the masses, the sheep
[09:46 am] joeytsa : when i was teaching
piano/guitar..the best students i had were
the ones who were homeschooled
[09:47 am] michael : I would believe that
[09:47 am] joeytsa : in order it went
homeschooling, private school and public
school last
[09:47 am] skydiver : exactly right joey on
your order
[09:47 am] qwert : Happy New Year to
everybody , wishing you all a healthy,
prosperous New Year
[09:47 am] joeytsa : same to you qwert[09:47
am] skydiver : you too qwert[09:47 am]
michael : same to you qwert[09:47 am] apple
: the best of everything to you qwert[09:48
am] shark : thx, qwert. you too
[09:49 am] victor51 : New kid on the block
is wishing everyone happy New Year and a
successful financial year 2012. The TSA and
all participants are great and together, we
will achieve our 2012 financial goals.
[09:49 am] joeytsa : i agree shark..but if
your kid is socializing with morons..what’s
the point haha[09:49 am] skydiver : good one
victor51 — good to have you aboard
[09:50 am] joeytsa : lots of home school
study groups, social groups etc[09:50 am]
mhaus : Thanks everyone for the wonderful
2011 and pray that all your wishes come true
in 2012.
[09:51 am] apple : PANL moving again
[09:51 am] joeytsa : i tell kids to learn
skills that will get them above the
garbage
[09:51 am] skydiver : my grandkids were in
private school, then put into public – and
they went downhill fast, put them back in
private this year and they’re flying high in
all respects again
[09:51 am] skydiver : amazing difference —
Seattle area
[09:51 am] shark : good to have choices in
the USA
[09:52 am] skydiver : yes shark — love
freedom – amazing so many people want to give
up freedom for socialism
[09:52 am] skydiver : interesting to see
China turned to capitalism – socialism has
been a big failure everywhere –
[09:53 am] go4it : PANL short?
[09:54 am] shark : nothing great there
go4it
[09:54 am] go4it : ok thx Shark
[09:54 am] joeytsa : agreed shark..might
even want to look for support hold and a
long
[09:54 am] mikewd2 -: go4it, you see Mitch’s
last statement
[09:55 am] go4it : Thx Joey
[09:55 am] victor51 : Mitch, i didn’t get S
on Deck but i am hally with long and may be
it will open big next week. I plan to stay
with it for a week or so. What you
think?/[09:55 am] skydiver : agreed with
shark and joey on PANL
[09:56 am] joeytsa : that doesn’t mean it
won’t pull back…but the odds are on the
long side i think
[09:56 am] joeytsa : but it has come a ways
up
[09:56 am] mikewd2 -: right
[09:59 am] skydiver : but remember go4it –
buying, selling, covering is your decision
ultimately
[09:59 am] skydiver : I’m pretty new here
too and love the input and have learned a lot
with lots more learning to do
[10:00 am] skydiver : boy – I should be an
english teacher with my grammar!
[10:00 am] skydiver : but — stock trading
pay more 🙂
[10:01 am] michael : go4it, I’ve shorted
ones like this before. you usually end up
fighting it to get a couple percent out of
it. Look at how herky jerky the one minute
candles are
[10:04 am] shark : DIA lod[10:05 am]
skydiver : thnx shark – haven’t been looking
at the DIA for a bit
[10:06 am] joeytsa : MA nice spike
[10:06 am] skydiver : HANS has dropped down
a bit from 93.20 down to 92.70
[10:07 am] joeytsa : MA most likely not
playable
[10:07 am] skydiver : yes – on slow days –
got to fight the temptation to just do
something — remind myself – self discipline
– stick to my rules
[10:08 am] joeytsa : with you on that sky
[10:10 am] shark : GOOG new hod[10:14 am]
shark : GOOG running…
[10:18 am] tonyliu : I am here for 4 days.
Only a few trades in the morning and nothing
to do in the afternoon.
[10:18 am] Mitch K: this is really quiet time
of year tony, really quiet
[10:19 am] apple : tony, we explained this
is a very slow week. time to study
[10:19 am] Mitch K: lowest vol of the year
[10:19 am] tonyliu : Thx.
[10:19 am] Mitch K: next week vol should pick
up with higher frequency of ideas
[10:21 am] Ed : which means more ideas
[10:21 am] tonyliu : Actually there are many
trade calls in the morning I can’t handle.
This time of the day has nothing. I hope we
can find a few trade in this time in next
week
[10:22 am] apple : depends on the market
[10:22 am] joeytsa : slow part of the day
also
[10:22 am] Ed : typically we get a couple
news driven ideas
[10:23 am] apple : tony, take a little break
then
[10:23 am] joeytsa : 1st 90,last 90 are the
busiest times
[10:27 am] joeytsa : CF should throw off
another trade or 2 coming up…looks like
about 6-8 decent trades on it so far
[10:28 am] tonyliu : Joey are you day
trading CF?
[10:29 am] joeytsa : i was earlier..smaller
size due to vol[10:29 am] joeytsa : i would
think it might get another move, but traders
might also pack it in early and take
advantage of the long weekend
[10:30 am] go4it : Michael stepped away
realtor showing house. I just read you post I
jumped in at 36.90 s out of boredom
[10:33 am] michael : LEAP offered better
opportunity. you got stuck in consolidation
too.
[10:37 am] go4it : well my thinking was
consolidation is a continuation pastern and
it looked to me to be turning over so I’m
taking a chance
[10:39 am] michael : ahh, I hear ya. I
think the continuation is usually in the
direction of the larger move, up in PANL’s
case.
[10:40 am] apple : agree michael
[10:40 am] joeytsa : that’s actually the
definition of continuation
[10:40 am] joeytsa : the opposite would be
reversal
[10:41 am] michael : it offered a short
opportunity, but you have to know it’s gonna
be quick. If you do it you’re usually gonna
get about 1%
[10:41 am] joeytsa : volume sometimes can
clue you in, but hard to rely on volume
today
[10:42 am] michael : for me it would have
been at 9:54 on the 2 minute using the candle
and volume
[10:42 am] go4it : thx for help I’m still
new at this and I appreciate any advice you
guys can give btw set my stop at be
[10:42 am] joeytsa : my ES tick chart is now
showing over 3 hours of data…very slow
day
[10:43 am] michael : price would have been
37.16 and you would have had to fight to get
1%
[10:44 am] apple : which stock?
[10:44 am] michael : PANL still, with
go4it
[10:44 am] apple : ok
[10:45 am] joeytsa : still would have given
you potential 30cents
[10:46 am] apple : take it when you can get
it…
[10:46 am] michael : those trades looked so
appealing to me, but I was fighting them
almost every time
[10:46 am] joeytsa : i agree michael…i
don’t want a fistfight for a few bucks
[10:47 am] apple : totally
[10:47 am] michael : I was passing on the
better ones, actually waiting for ones like
this
[10:47 am] joeytsa : VRUS a bit of a move
[10:50 am] go4it : stoch crossed at 10:45 on
1min chart I’m still in
[10:51 am] apple : DND had a nice short
[10:52 am] rusty : mike, see that spike in
RAM at 11:15 or so…that’s what you look for
to short into
[10:54 am] rusty : two days ago CNBC said
volatility was gone, now they are saying they
are looking for more volatility
[10:54 am] rusty : how do people make money
following them
[10:54 am] michael : by doing the
opposite
[10:55 am] rusty : lol good point
[10:55 am] rusty : statistically 90%
probably follow CNBC thinking tho[10:56 am]
michael : definitely a large number, you can
tell by how much things move when they
speak
[11:06 am] rusty : CNBC and everyone hates
natural gas
[11:06 am] rusty : might be time to start
looking at it
[11:07 am] michael : been watching it every
day, just waiting
[11:08 am] joeytsa : with you rusty on nat
gas
[11:08 am] rusty : CHK SWN EP et al
[11:09 am] michael : futures contract for
me
[11:09 am] joeytsa : I’m also looking at
westport[11:09 am] rusty : maybe sell some
puts on the above
[11:12 am] rusty :
http://stockcharts.com/h-sc/ui?s=$WTIC:$NATGA
S&p=D&yr=0&mn=6&a
mp;dy=0&id=p11398013607
[11:13 am] rusty : above link shows how out
of whack nat gas is compared to oil
[11:15 am] rusty : long-term that ratio is
more like 6-10
[11:15 am] rusty : now 33
[11:19 am] joeytsa : Google CEO Larry Page
is IBD’s ceo of the year
[11:19 am] apple : i gotta go, have company.
thx MK, K, B and E and everyone. have a
safe wonderful new year. see you on
tuesday.
[11:19 am] Brent : you too apple, take
care
[11:19 am] Ed : u2 apple and c ya next
year
[11:21 am] go4it : die PANL LOL
[11:22 am] rusty : VIX spike
[11:22 am] joeytsa : the ES touching
lod[11:22 am] michael : the markets are
moving down go4it, working in your favor
[11:24 am] go4it : beginners luck!
[11:24 am] go4it : I see your point about
the fist fight tho[11:25 am] michael : some
resistance around 36.24
[11:33 am] go4it : out PANL
[11:33 am] michael : well done
[11:33 am] mikewd2 -: nice go!
[11:34 am] go4it : THx Michael for ur
help!
[11:34 am] Ed : nice trade michael, go4it
[11:34 am] joeytsa : PCLN near lod[11:34 am]
michael : I totally applaud your patience
[11:35 am] go4it : Thx Ed
[11:35 am] joeytsa : nice spread no vol
though
[11:36 am] go4it : I have more patience when
i8n a trade that when I’m on sideline
haha[11:36 am] michael : you will do well
then as long as you use stops
[11:37 am] michael : thx E, I didn’t trade
it, just along for the ride
[11:37 am] go4it : that’s my nemisis:(
[11:37 am] Ed : cool
[11:43 am] go4it : VRUS sure was strong
against th SPY
[11:49 am] tonyliu : Is it SPY consolidating
for upward bias?
[11:49 am] michael : anything goes last hour
of the year tony
[11:50 am] tonyliu : Ah ha
[11:50 am] joeytsa : tony: did you take
VRUS?
[11:50 am] mikewd2 -: quick drop in AGQ
[11:51 am] tonyliu : No, I don’t know short
or long. I first think to take short
[11:51 am] joeytsa : gotya[11:53 am] go4it
: I got VRUS L when Brent called it 127.18
[11:54 am] tonyliu : cuz indicators were in
the upper range seemingly to go down
[11:54 am] joeytsa : i think it was just
under $126 when i mentioned it
[11:55 am] tonyliu : So when I almost place
the order it went up
[11:55 am] go4it : sorry Joey I missed
that
[11:56 am] joeytsa : it’s actually held the
15ma since just b4 8:30pst
[11:56 am] tonyliu : Please teach me how to
determine S or L when a stock moves fast
[11:56 am] joeytsa : sub $124…really nice
move, wish i saw it then
[11:57 am] go4it : What is stop on VRUS
[11:57 am] shark : PCLN took a nice little
dump today, joey
[11:57 am] joeytsa : saw that earlier
shark..wanted to cut that fat spread but no
volume
[11:58 am] shark : I sold some 475 weeklies
this morning on it
[11:58 am] joeytsa : go4it: put stop just
below ma support maybe?
[11:58 am] go4it : thx Joey
[11:58 am] shark : were worth $3.20 at peak,
now .05
[11:58 am] joeytsa : looks like you have a
nice profit, don’t give too much back
[11:59 am] joeytsa : wow shark
[11:59 am] shark : that’s why I’m sitting
here at the baby monitor
[11:59 am] go4it : Set stop 127.66
[11:59 am] joeytsa : tony: every situation
is different, so there isn’t a cut and dried
answer
[12:01 pm] joeytsa : nice profit go4it
[12:01 pm] go4it : out VRUS
[12:01 pm] go4it : thx
[12:04 pm] joeytsa : tony: best advice based
on your earlier statement saying you look to
go short would be just to wait for those
opportunities..will make things less
confusing maybe
[12:07 pm] tonyliu : In the DVD’s stochs in
upper range and the price turns over it is a
setup for short Joey, isn’t it?
[12:07 pm] joeytsa : can be..but not every
setup works
[12:08 pm] joeytsa : if you jump in, just
set your stops so you can’t get hurt
[12:08 pm] tonyliu : I set my stop at 1% but
still get hurt
[12:09 pm] joeytsa : no matter how technical
you get etc…every time you push buy/sell
its at best just a guess
[12:09 pm] joeytsa : then 1% is too much for
you or you need to trade smaller size
[12:09 pm] mikewd2 -: better than a guess, if
you “follow the indicators”
[12:09 pm] mikewd2 -: haha[12:09 pm]
thomasohana : joey is a reversal strategy
enough to go full-time on? or would u advise
that one has multiple strategies before going
full-time
[12:10 pm] joeytsa : you can make a lot of
money if you get good at 1 thing
[12:10 pm] joeytsa : more strategies just
gives you more opportunities..but maybe more
distractions
[12:11 pm] joeytsa : not sure, but my guess
is that most traders make their money on 1 or
2 strategies
[12:12 pm] joeytsa : but whatever strategy
you decide on…the focus should always be on
making good trades
[12:13 pm] joeytsa : nothing wrong with
losing money on your best ideas
[12:13 pm] tonyliu : Thx Joey
[12:13 pm] Brent : I agree with Joey. I
think a good living can be made just by
mastering 1 strategy and being consistent
with it. As you gain more experience you can
add more strategies. But make sure you don’t
take on too much too fast or you will likely
regress
[12:14 pm] thomasohana : apple mentioned
that reversal strategy set ups don’t happen
all the time which can be frustrating, but
perhaps its due to the low volatility from
the holidays
[12:14 pm] joeytsa : right brent..confusion
can set it
[12:15 pm] joeytsa : you can literally drive
yourself crazy trying to find “The answer”
[12:15 pm] thomasohana : i have lol[12:15
pm] joeytsa : then you go in search of the
next thing
[12:16 pm] joeytsa : on and on…study what
Mitch,Brent,Kris,Ed teach..pick the one that
makes the most sense to you right now
[12:16 pm] tonyliu : Thx I still confused
with stochs, I watched the DVDs but you are
trading different here
[12:16 pm] thomasohana : understood
[12:16 pm] thomasohana : thx for the
insight
[12:16 pm] joeytsa : you have to really
decide what type of trader you are
[12:17 pm] joeytsa : I’m not patient…so
waiting for a candle setup on a 15min chart
doesn’t work for me..heck the 3min doesn’t
either haha[12:18 pm] lightning : tony, the
DVDs are really closest to the way Mitch
trades. It doesn’t seem to match the
strategies that Brent or Kris trade very
well.
[12:18 pm] joeytsa : if i had to recommend a
“strategy”, i guess it would be to sit and
wait for a severe overreaction…either a
premarket gap or a Vpattern setup
[12:19 pm] joeytsa : and fade it
[12:20 pm] tonyliu : thx
[12:20 pm] joeytsa : 2nd would be like mitch
mentioned at 9:36…buy uptrending stocks on
dips and/or short downtrending stocks on
spikes…
[12:20 pm] mikewd2 -: ain’t got that kinda of
patience joey!
[12:20 pm] joeytsa : but make sure you
master support/resistance
[12:20 pm] joeytsa : yeah mike i hear
ya[12:21 pm] joeytsa : look at
VRUS..unfortunately go4it just got touched
out then it moved higher…
[12:21 pm] joeytsa : but he didn’t let much
profits get taken away..so the decision was
correct
[12:22 pm] Ed : Livermore said “I never catch
top or bottom” but I make a lot of money
[12:22 pm] joeytsa : true
[12:23 pm] joeytsa : re: VRUS…my guess is
go4it was looking at the 1 or 2min?
[12:23 pm] joeytsa : but the 3,5,15min
charts never broke support
[12:24 pm] Ed : still in uptrend
[12:24 pm] joeytsa : so there is where more
confusion can set in…which is why you HAVE
to decide what type of trader you are
[12:24 pm] Ed : great point joey
[12:25 pm] joeytsa : info overload
[12:27 pm] thomasohana : joey I’m sorry if
this is a noob-ish question, but can you
elaborate on “type of trader”?
[12:31 pm] joeytsa : personal style
[12:31 pm] joeytsa : you can be a “trend
follower”, “momentum fader” etc[12:32 pm]
joeytsa : do you like to use the 1min chart
with a 5/15ma…or do you like the 5min chart
with 8/21ma etc[12:32 pm] thomasohana : ah
ok, sorry thought u were referring to being
aggressive vs. patient
[12:32 pm] joeytsa : that’s another
category
[12:42 pm] mikewd2 -: FMCN on the move
[12:42 pm] shark : good observe, mikewd2
[12:48 pm] mikewd2 -: WFT nice couple days
[12:56 pm] tonyliu : 1 question, I found
that profits are small in the trades these
days, is it more price movements in the usual
days?
[12:56 pm] shark : yup
[12:56 pm] shark : depends on volatility,
too
[12:57 pm] shark : VIX is indicator of how
much a market is expected to move on any
given day
[01:00 pm] tonyliu : My problem is when I
get a call as ‘XYZ moving’ or ‘alert’ I don’t
know long or short. What should I check on
the chart? I mean volume, stochs, MA etc.
[01:00 pm] shark : all of that tony
[01:01 pm] shark : pick up a set of the
instructional CD’s
[01:01 pm] shark : they are complete from
A-Z
[01:01 pm] shark : plus you get some updates
here in the trading room
[01:03 pm] tonyliu : Hum, when I took PANL
short after checking stochs and MA, it went
down a little and shot up sharply
[01:03 pm] tonyliu : I have DVDs
[01:05 pm] tonyliu : I heard about webinars
are really great. Any review available as an
archive?
[01:11 pm] Brent : contact service tonyliu.
[email protected]
[01:11 pm] tonyliu : Thanks Brent. When will
be the next webinars?
[01:12 pm] Brent : nothing scheduled yet.
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