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Forum date: 05-07-10
JayBird [1:53]: Tomorrow morning, three economic reports are scheduled to be released before the open: Unemployment Rate (Consensus 9.7%), Nonfarm Payrolls (Consensus 187K), Average Workweek (Consensus 34.0).
Tomorrow before the open look for the following companies to report: AER, AIG, ARNA, BECN, BPL, CF, XEC, CEP, XTEX, CRYP, EBIX, EIX, HUN, IAG, MTRX, MCCC, MIR, POM, PCG, SUG, SUP, TTI, and WCRX.
rw [6:32]: going to gym - be here plenty early - 5am , about, now--------------everybody be sure and excercise for two hours -------------good trading to all.........
flower2bi [6:59]: good am ala SVIS
Andrew [7:09]: Good morning. Big jobs report will be coming out at 8:30am.
Sandman [7:12]: Good morning Andrew, How did you do yesterday?
Andrew [7:13]: Very well Sandman due to my trades before 2:00pm. I luckily lost only a little bit in the crazy drop and bounce, though I'm disappointed I wasn't able to capitalize of that great opportunity more.
Andrew [7:15]: Apparently yesterday the VIX had its biggest increase since Lehman Brothers declared bankruptcy.
Sandman [7:16]: I know because ikeep one eye on the VIX.
Andrew [7:17]: I noticed you did that and I'm going to start doing that too.
Sandman [7:17]: But you know tht already.
carr [7:34]: Good morning Andrew flower and all
nester [7:35]: Morning all wow... i'm late this morning.
Andrew [7:35]: Good morning carr.
Andrew [7:35]: Interestingly the market is pretty close to the same levels it was at the week of the Lehman collapse.
nester [7:36]: NEW YORK (AP) -- Stock futures are rising Friday, a day after one of the most volatile sessions in Wall Street history.
A computerized sell-off, which might have been triggered by a simple typographical error, sent the Dow Jones industrial average down by a record nearly 1,000 points in about 30 minutes Thursday afternoon. The market started to steady itself and regained two-thirds of that loss before the end of trading.
Still the 348-point, or 3.2 percent, drop on the Dow was the worst day for the index since February 2009 when the market was swooning and headed toward a 12-year low. The Dow has lost 631 points, or 5.7 percent, over the last three days.
nester [7:36]: SINGAPORE (AP) -- Oil prices hovered above $77 a barrel Friday in Asia, halting an 11 percent sell-off this week as the euro strengthened against the dollar.
Benchmark crude for June delivery was up 29 cents to $77.40 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The June contract lost $2.86 to settle at $77.11 on Thursday.
Crude prices have fallen from an 18-month high of $87.15 that was hit Monday. That level was reached as the dollar surged against the euro amid investor concern a $142 billion bailout package for Greece won't be enough to keep the debt crisis from spreading to other European countries
nester [7:36]: WASHINGTON (AP) -- The two leading architects of the financial bailout made the case Thursday that Congress must give regulators more power to curb risk-taking on Wall Street.
Treasury Secretary Timothy Geithner told a special panel investigating the financial crisis that the government should have acted more aggressively ahead of the crisis. He used his testimony to push for the Obama administration's financial regulatory overhaul, which has reached a critical point in the Senate.
His predecessor, Henry Paulson, also told the Financial Crisis Inquiry Commission that a reworking of the regulatory system was needed. But Paulson, who led the Bush administration's response to the crisis in 2008, cautioned that overly stringent regulation could stifle innovation.
nester [7:37]: WASHINGTON (AP) -- Employers likely added to their payrolls in April, but Europe's spreading debt crisis has jolted Wall Street and might dampen further job gains.
Signs have multiplied in recent weeks that the economic recovery in the United States has gained traction. Still, companies have been loath to rev up job creation.
Now, the debt crisis that erupted in Greece and sent stocks plunging Thursday adds to companies' uncertainties. That could make them more cautious about hiring, economists warned.
nester [7:37]: Here are 5 stocks added to the Zacks #5 Rank ("strong sell") List today:
http://finance.yahoo.com/news/Zacks-5-Rank-Additions-for-zacks-1833826185.html?x=0
carr [7:38]: morning nester yes you are late
nester [7:38]: Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
http://finance.yahoo.com/news/Zacks-1-Rank-Additions-for-zacks-1669928971.html?x=0
Andrew [7:38]: AIG could be in play today on its earnings announcement. It's going up pre-market.
nester [7:39]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Friday's session are PG&E Corp., Washington Post Co. and American International Group Inc.
Andrew [7:39]: AIG's daily chart looks relatively okay actually - its 200-day moving avg. wasn't breached.
Andrew [8:03]: The President will be talking about the stock market at 11:00am today.
carr [8:09]: AEN up in pre-market on news not much volume though
Andrew [8:10]: Traders who bought right near the very bottom and then sold out same day into the bounce might wind up being short those same stocks if NASDAQ cancelled the buy trade.
carr [8:10]: Adeona Completes a $17.5 Million Corporate Partnership With Meda AB for the Development and Commercialization of Flupirtine for Fibromyalgia
Adeona to Receive Royalties on Potential Billion Dollar Indication; Meda to Assume All Future Development Costs 05/07 06:00 AM
LEECO [8:14]: Good Morning-nester, Andrew, carr,
nester [8:14]: morning Sir
LEECO [8:15]: morning rw-gymnasdt
Andrew [8:15]: Hi Leeco
nester [8:16]: SQNM is down 9%
carr [8:17]: Morning LEECO
Andrew [8:20]: I don't really like anything long at these levels except maybe a stock having new individual news like AIG's earnings.
LEECO [8:20]: morning flower,sandman
LEECO [8:21]: Is the opportunity here this AM
nester [8:22]: agree Andrew. i'm stickin to what i told you last nite. not going to play anything until there is a definite direction this mess is heading
Andrew [8:22]: I'm hoping for a huge gap up on good jobs data so I can get short at a good price.
nester [8:24]: happens at 8:30 am should give some direction
LEECO [8:24]: AIG EPS +0,41 vs expected 0.48
Andrew [8:25]: One trader on Bloomberg thought that the jobs data won't affect today's trading much overall unless it is extremely extremely better than expected.
jim [8:25]: Morning all
LEECO [8:26]: morning jim
nester [8:26]: not sure i agree. if it is lower than expected even by a small amount, could drive it down based on the panic from yesterday
jim [8:26]: Morning Leeco
nester [8:27]: or higher... i mean
nester [8:27]: morning jim
carr [8:27]: morning jim
djalecc [8:28]: Most UK stocks I'm watching crashed lower on open this morning, be careful today people!... oh morning :-)
jim [8:28]: Morning Nester, Carr
nester [8:30]: dj - this is going to be an interesting morning. i think we close green or just barely down. think they will try to show confidence in this mess and it was just a "glitch" that caused it. no big deal. but if i'm wrong, going to be just sitting and watching for a while...
nester [8:32]: jim - if you're looking for a bouncer this morning, SQNM may be decent been moving up for the past few minutes
Andrew [8:33]: More jobs than expected (but worse unemployment).
jim [8:34]: Yes I will watch SQNM but I like you am more of a watcher today any position is very high risk
Andrew [8:35]: Every major bounce today will be sold I bet. Even pre-market it came down really hard just now.
nester [8:35]: i've almost talked myself into just turning off everything today. take a holiday from it, though i know deep down i can't do that...
Andrew [8:36]: Until SPY starts holding above 114.20 for a bit, I'm going to continue to think short.
nester [8:36]: Futures went red
jim [8:36]: I am with you Nester may be a good day to go fishing
carr [8:37]: Andrew nice call on AIG
nester [8:37]: send pictures if you do...
jim [8:37]: will do
Andrew [8:37]: I almost bought it 37.00 pre-market but held off. Today's probably not the best day to begin trading outside regular market hours, lol.
nester [8:38]: SOMX is up premarket though looking like it may fall back a bit
carr [8:39]: hey bulldog
carr [8:40]: morning rw how was the gym
rw [8:43]: a pain carr - I make myself go.....3x a week - then walk - run 3miles a day.....
Andrew [8:46]: In SPY, we have the 100-day moving average serving as resistance just above 114.00 and the 200-day moving average serving as potential support near 109.75.
LEECO [8:53]: welcome back (tired) rw
carr [8:55]: rw you should do what I do, just think about going to the gym and then have a cup of coffee
LEECO [8:55]: Or be production-Work a veggy garden & eat outofit
rw [8:56]: LOL You are a lot younger than I carr I am 73
carr [8:56]: I am 56 but you are probably in much better shape LOL
jim [8:57]: good thing we have Andrew to keep our average age down
rw [8:57]: Colonel Leeco.
rw [8:57]: yes JIM.
carr [8:57]: LEECO my herb garden is about the most exercise that I get
rw [8:58]: HANS - I think it will bounce
rw [8:58]: also PM
LEECO [8:58]: Did Wegg ever buy in-he was a NC hillbillie witha smallfarm?
madriver [8:59]: he took issue with calling him a hillbillie
LEECO [9:00]: No he bragged proudly about being a hillbilly-Did hegotrial &leave?
carr [9:00]: Leeco Wegg has not posted since Monday
LEECO [9:02]: I guess he bailed --morning mad
karenbcz [9:02]: Morning all! Everyone ready for another roller-coaster ride? :>)
madriver [9:02]: morning
LEECO [9:03]: morning karen
Andrew [9:04]: Despite the apparent good news in the jobs report, the futures are still trading lower than the were at 7:00am before the report.
madriver [9:05]: SPY seems to be recovering a bit
Andrew [9:06]: Not too much - below the middle of its morning range.
rw [9:06]: I think JNK will be good for .5% today ---it is a junk bond fund etf
carr [9:06]: 09:05 AM Eastern Daylight Time, 05/07/2010 (MidnightTrader) -- Health care issues are on the rise before the bell Friday, with French biotech company NicOx (NICXF:$9.7500,$0.0000,0.00%) meeting with FDA officials next week to discuss whether its first medicine should be cleared for sale as an arthritis pain drug, according to Reuters. Naproxcinod also has blood pressure benefits that can distinguish it from other medicines on the market.
http://www.midnighttrader.com
LEECO [9:07]: rw-Is JNK bear orbull ETF?
rw [9:08]: bull etf leeco i rode it up yesterday it dropped and went up a dollar yesterday
rw [9:08]: also bby
madriver [9:10]: carr...do you have a subscription to midnight trader? if so how do you like it?
carr [9:11]: madriver, no subscription, Fidelity provides a live news feed as part of their service, I get stuff from pretty much everyone
ortrade [9:12]: Good morning
carr [9:13]: morning ortrade
carr [9:16]: morning Karen
Andrew [9:16]: I think I'll begin to consider longs if SPY holds above 113.50 for at least 10 minutes straight.
flower2bi [9:17]: did any body see that a investor with some firm was selling 1million shares of financials and accidently sold 1billion and caused a panic yesterday
rw [9:17]: someone here that trades large number of shares could have pushed the billion button...
Andrew [9:17]: flower, that might have just been a rumor. Most people think that if that happened it likely didn't cause too much of the crash.
ortrade [9:18]: hi carr
Andrew [9:19]: The likely culprit of what happened is a structural problem with the market regarding electronic trading.
flower2bi [9:19]: well i tell you that it was just sick yesterday didnt buy nothing couldnt find some pennies in the trash
flower2bi [9:20]: well any way good am to all because were going to need more luck today than skills
Andrew [9:21]: If SPY holds below 113.00 for 10 minutes straight I'll get very aggressively short.
ortrade [9:22]: The bear/bull from SV outlook for the day: market opens a bit bearish (5min) and turn into bullish for the first hour (60min) but we turn around and for the day we end lower (daily trend). Lets see if that prediction for now presists into from "now on".
Andrew [9:22]: lol
carr [9:22]: flowe I agree espeically long traders
flower2bi [9:23]: hey andrew there is one that iam watching JTX waiting on the bleeding to stop than i will get in
Andrew [9:23]: That looks like a good choice.
carr [9:24]: Pre-market top 5 gainers 05/07 09:23 AM
The following stocks were the top percentage gainers before the open on solid volume of at least 50,000 shares, trading at over $10. VTIV 5.6%, ITMN 4.2%, AIG 3.67%, GGP 3.5%, ATVI 3.4%.
carr [9:24]: Andrew you should have bought AIG in pre
carr [9:24]: I wish I had
Andrew [9:25]: I think it will pull back once the market opens.
flower2bi [9:25]: well i will b back going over and look for some pennies to turn into some $ good luck to all because were going to need it happy trades
carr [9:25]: see you later flower
karenbcz [9:26]: FBP is in the TOILET!
Hank [9:26]: morning everyone,
Andrew [9:26]: Market is getting whacked before the bell. I wonder if it's just a head-fake.
usdojpr [9:27]: good morning all
ortrade [9:27]: hi Hank
rw [9:27]: futures are up andrew
rw [9:27]: yes I see down futures have dropped 12X
rw [9:27]: Oil way down sure is dropping
jaws [9:28]: Fri May 7 09:17:00 EDT 2010 | Briefing.com
S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +0.80. Stock futures suggest that a mildly positive start is in order for this session. The uptick would come after stocks dropped in excess of 6% during the course of the past three sessions, the last of which saw the stock market fall more than 3%. Though the prior session's loss was the worst single-session percentage slide of 2010, it wasn't as bad as near 9% loss that it had seen during an intraday drop. That drop has been blamed on the failure of computerized trades and electronic networks. Such failure has prompted both the NYSE and Nasdaq to cancel trades that were less or greater than 60% away from the consolidated last print in a 20 minute time block yesterday. The improved tone this morning has been helped, for now, by a better-than-expected April nonfarm payrolls report, which showed that 290,000 nonfarm jobs were added. The dollar is also down modestly after climbing four straight session.
Andrew [9:28]: The market is selling off into just a tiny gap up if any.
rw [9:28]: yes andrew....
LEECO [9:29]: morning late coers all
Andrew [9:29]: We will be gapping down now it appears.
Andrew [9:30]: long FAZ 14.24
Andrew [9:31]: added to FAZ 14.17
Andrew [9:32]: added to FAZ 14.25
rw [9:33]: how much is hans scottrade stopped
Andrew [9:33]: 35.50 bid and 35.60 ask
jim [9:33]: 35.50 HANS
Andrew [9:33]: and moving down a lot
rw [9:34]: thanks andrew
rw [9:36]: thought i had hans at 35 even scottrade went down.....durn it
knight [9:36]: good morning...
majour [9:37]: morning knight
Andrew [9:37]: out FAZ +1%
Andrew [9:38]: long FAS 28.08
Andrew [9:38]: added to FAS 28.23 (last 2/3rds)
carr [9:40]: good morning knight
ortrade [9:40]: PPL 200s@24.92
LEECO [9:40]: GM knight
Andrew [9:42]: out FAS +3.1%
ortrade [9:42]: ANV 200s@17.94$p
Sandman [9:42]: VIX down 2.20%
Andrew [9:43]: long FAZ 13.66
knight [9:43]: it's my SEED at 7,25 will pay a lot $$$ against HANK shorting SEED again
Andrew [9:44]: added to FAZ 13.69
ortrade [9:44]: MWE 200s@28.93p
knight [9:44]: do you like PEIX CARR today
Hank [9:45]: Knight Im happy your finally making $$$$
rw [9:45]: Hank......
Andrew [9:45]: added to FAZ 13.61
knight [9:45]: don't worry with me , i do more in one day than you can make in one year
Andrew [9:46]: doubled up on FAZ 13.75
rw [9:46]: It is sad to see such boastful comments here........thought we were beyond that.....that is all I have to say
Hank [9:47]: knight, then can I have a loan
Andrew [9:47]: tripled up on FAZ 13.83
knight [9:47]: why a loan, you don't make money ?
Hank [9:48]: knight, this is my charity job ,at times
knight [9:49]: so be nice with people , don't try to screw them all the time....
knight [9:49]: woow PEix want to fly....
LEECO [9:50]: Prof knight in all sincerity since you make so muck (easy) money-it would be a boone if youwould puta big tipin the tip jar tohelp GAR thru this tough time for him &GArsworld-would you please?
Hank [9:50]: knight , I am nice, your just seeing the other side the wrong way.
ortrade [9:51]: vale likely will rmap up..
Mckoan [9:51]: Just out of curiosity, did anyone take advantage of the sever - short live downfall yesterday? Personally I watched the action on CNBC and did nothing...
knight [9:52]: I will like you comment more your trade to see your reasons to post...
ortrade [9:53]: Exit ANV -30$p
carr [9:53]: Mckoan, I tried but my broker was so jammed that none of my orders went through
Willie2 [9:53]: I bought C at 3.94 ot the way back up yesterday
knight [9:53]: i do with another way «leeco making recommendation for his system...
LEECO [9:53]: McKoan-I was on the phone trying to help Garsworldwhen the big DROP_RECOVER occurred-missed it!!
Andrew [9:54]: out 1/3rd FAZ +1.7%
rw [9:54]: I was able to ride JNK up.....nice money
LEECO [9:54]: Prof knight-I am sure heappreciates your input but right now I think some $ would be very welcome !
rw [9:55]: i hope someone bouoght HANS g
knight [9:56]: to tell you the truth , i am not making money with SV , i do make money with my internal system....
Andrew [9:56]: out another 1/3rd FAZ +2.2%
Mckoan [9:56]: Someone on CNBC "hit the nail" right on the head. Never place a market order....
jim [9:56]: Knight GAR really needs rich people like you to finacially support his efforts to keep the system going please help him
rw [9:57]: Yes sure would be appreciated
carr [9:57]: Mckoan good advice I never place a market order
LEECO [9:58]: I am sure your internal system is excellent-we've seen it work-but a small % of what you are making would be a big help to get him thru his tough times
Andrew [9:58]: added back to FAZ 14.09
knight [9:58]: i still studying his system - i find good point on statistic and graphic...
Andrew [9:58]: added to FAZ 14.12
LEECO [9:59]: Please reward his statistical & graphic output
knight [9:59]: Have you give LEECO , you are a fortunate man too !
jim [10:00]: Knight you are making tens of thousands per day how about a little help
Mckoan [10:00]: LEECO what is going on with Gars company offering to the members? Heard much about it last Fall; however, I have not heard anything in the last few months
ortrade [10:00]: Exit PPL+44$p
knight [10:00]: i do already help many people
jim [10:00]: yes Leeco gives he and I were two of the supporters to GARS public offering did you send in a check KNIGHT!!!!
Andrew [10:01]: out 1/3rd FAZ +2.3%
knight [10:01]: How much Jim did you send ?
jim [10:01]: $2,000 check .
ortrade [10:02]: watch PPL drop on fear now..
Andrew [10:02]: out another 1/3rd FAZ +3.1%
LEECO [10:02]: I nhave tipped when I have a profitable trade-right now I am helping by trying to get a brker for his Garsworld Category D Stock offering-personally-my successor company (that bought mone and myretirement pay contract) is welshing-no payApr or May and Ihave had to retain a lawyer ($) to help. I am forunate to be healthy and happy.
karenbcz [10:02]: This is NOT a correction, this is a CRASH.
Andrew [10:03]: I can't believe this has gone exactly as I thought.
karenbcz [10:03]: You've been warned!
Iswing64 [10:04]: L FAZ@14.51
ortrade [10:04]: Exit MWE +117$p
Iswing64 [10:04]: nester you there?
Andrew [10:05]: Enormous volume in the market already - more volume in 35 min. than traded the entire day on April 5th for example.
ortrade [10:05]: Total for today morning shorts +127$p. Now I move to experimental strategy.
Andrew [10:05]: out last 1/3rd FAZ +5.2%
nester [10:05]: yes swing. just watchin right now
ortrade [10:05]: ANV is still a good short till morning open in my opinion..
rw [10:05]: in and out dxd .4% 30 second trade
karenbcz [10:05]: Sandman?
Andrew [10:06]: long FAS 27.32
Sandman [10:06]: VIX up 8.11%
Iswing64 [10:06]: I see it now nester p/sar on 5min faz
123 [10:06]: s&p 1113 not 1130 as above market is falling again
Sandman [10:06]: Hi karenbcz
Andrew [10:06]: added to FAS 27.40
Andrew [10:07]: added to FAS 27.45
karenbcz [10:07]: SAND: you asked me last nite about shorting .... ?
Sandman [10:08]: yes I did.
Andrew [10:08]: out FAS +2%
karenbcz [10:08]: I'd forgotten, 3 yrs. ago, I played FXP. Made a $TON$$ , and I mean a TON, then lost it all. Look at 3-yr. chart.
Andrew [10:09]: long FAZ 14.36
Andrew [10:09]: added to FAZ 14.46
karenbcz [10:09]: SAND: I was making $20K a week on FXP. Then lost it ALL.
Andrew [10:10]: added to FAZ 14.41
karenbcz [10:10]: SAND: FXP ruined me.
Sandman [10:10]: What happened? Did you hold to long.
Andrew [10:11]: doubled up on FAZ 14.40
Andrew [10:11]: tripled up on FAZ 14.47
Sandman [10:12]: I let the MACD on a daily chart tell me what to do.
karenbcz [10:12]: SAND: I kept going back in. Here's why FXP is a scam. The markets kept going DOWN, but FXP stopped going up. It just STOPPED. It didn't move with the market after October '08. It just kept going down. They screwed everyone who played it. That's Y Proshares got sued by 10,000 lawyers.
nester [10:13]: in FAZ $14 calls 1.60
Andrew [10:13]: out 2/3rds FAZ -0.53%
Andrew [10:14]: doubled up on FAZ 14.41
Sandman [10:14]: Oct. had some big moves on FXP.
ortrade [10:14]: PWR 200s20.15$p
Andrew [10:15]: tripled up on FAZ 14.48
Sandman [10:16]: $153.00 down to $10.56.
nester [10:16]: WASHINGTON (MarketWatch) - The House Financial Services Committee's securities subcommittee is scheduled to hold a hearing on May 11 to examine the circumstances behind the U.S. stock market's sharp, plunge on Thursday. "Within a matter of minutes, we faced a market that seemed just as volatile as it did in the fall of 2008," said House Financial Services subcommittee chairman Paul Kanjorski, D-Penn., in a statement. The committee's hearing comes as Sen. Ted Kaufman, D-Del, argues that legislators and regulators need to inquire into ""the potential for giant high-speed computers to generate false trades and create market chaos." The Dow Jones Industrial Average dropped nearly 1,000 points on Thursday before swiftly rising to a 348-point loss.
karenbcz [10:17]: SAND: Exactly! But my point is ... remember, the market continued to CRASH until March '09. After 10/21/08 -- FXP .. remember it's an inverse ... stopped going up. As an INVERSE, it should've continued to go up until March '09, following the markets. Proshares just STOPPED letting it go up.
ortrade [10:18]: Interesting deceit on the indexes. Till now market seems to be sliding lower in a chanell like yesterday.. Pshycoligical consideration: we could spike up any time as yesterday the whole dtn may be a mistake.
123 [10:18]: its been convienant that every time the gov wants to regulate something a "timely crisis occurs"
Andrew [10:18]: out 1/3rd FAZ +1.3%
jim [10:19]: Karen take a look at TZA for this year over $11 in Feb and should now be back in that area it is in the $7 same issue
karenbcz [10:19]: FXP doesn't work like FAS. As the market goes up, FAS keeps going up. But with FXP ... and INVERSE, as the markets continued DOWN, FXP went down too! The opposite of what it was supposed to do.
knight [10:19]: take some profit from SEED 7,25 to 8,1 part 1
ortrade [10:20]: BGC 200s@28.89$p
nester [10:21]: 123 - did you sell off that short yesterday?
Andrew [10:21]: out another 1/3rd FAZ +3%
karenbcz [10:21]: JIM: Yes. I read some of the legal charges against the INVERSE ETFs. Their "excuse" was, the algorithms were "recalculated" everyday. So, if YOU don't what math they're using, .... where does that leave you?
123 [10:21]: hell no lol the market is going down
nester [10:21]: i know. just thought you would buy back in again after the profit
Andrew [10:22]: added back to FAZ 14.78
jim [10:22]: I sold out of TZA and recommend not using again because it wont go up when it should
Bryce [10:23]: Amazingly the equity plunge was originally blamed on Citigroup, an idea I found laughable as noted in Citigroup Trading Error Cause Market To Crash? Citigroup Says No.
Regardless of what anyone finds, a trading error did not cause this collapse. The market collapsed because it was ready to collapse. A retest is likely coming up, especially if shorts covered in that dramatic rise off the bottom.
karenbcz [10:23]: JIM: or it goes up so little, it's not worth the risk.
Andrew [10:23]: The Russell 2000 is still showing relative strength. It's still above its 100-day moving average whereas the broader market is below its 200-day moving avg.
ortrade [10:23]: I hope none pushes the T button on keyboard today.. lol..
123 [10:23]: they canceled some trades that occured in the big spike down.....if i would have sold then it would probibly been reversed
Andrew [10:23]: added to FAZ 14.85
karenbcz [10:24]: BRYCE: I believe this is another CRASH, NOT a correction.
Bryce [10:24]: I've stopped using TZA also. I agree Karen.
Andrew [10:24]: out 1/3rd FAZ +2.1%
jim [10:24]: BGZ is doing the same thing right now it should be over 17 and it is 15.80 ish I have also stopped using BGZ
Andrew [10:25]: FAS/FAZ are totally the way to go
nester [10:25]: wow. my call is up 42 cents already...
123 [10:25]: buying puts on long etf's when the etf is on a spike up has worked great
jim [10:25]: agree Andrew they look pretty good but are linked to financials only
123 [10:26]: 1105 s&p now
rw [10:26]: bgu bgz 3 x dow long and short
Mckoan [10:26]: Another "swan dive" in the making.......
rw [10:26]: dxd 2 x dow short i trade dxd a lot
Sandman [10:26]: VIX up 20.46%
karenbcz [10:27]: 123: We're just referring to the INVERSE ETFs.
123 [10:27]: euro at new lows and dollar spiking up
Andrew [10:27]: BGU/BGZ is actually Russell 1000 index
karenbcz [10:27]: GNVC on crash n' burn soon. = earnings
majour [10:27]: look at FBP
Andrew [10:27]: out another 1/34d FAZ +3.1%
ortrade [10:27]: Exit PWR +64$pe
Andrew [10:28]: This selling is totally nuts again
123 [10:28]: I know Karen....but saying you will do much better shorting long etf's...put options are a safe way to do that
Andrew [10:28]: out last 1/3rd FAZ +4%
ortrade [10:29]: Exit BGC +112$pe
jim [10:29]: good trade Andrew
Andrew [10:29]: long FAS 25.96
ortrade [10:29]: good trading day..
123 [10:29]: I just hope market doesnt totally crash for good....cant make money if market disapeers
Andrew [10:30]: added to FAS 28.63
Andrew [10:31]: added to FAS 26.69
knight [10:31]: faz short 15,2
123 [10:31]: my level 2 must be stuck...my account says my options at 4.60 but l2 says 3.60
Andrew [10:32]: The volume is enormous still!
ortrade [10:32]: SKF 500s@20.93$pe
Andrew [10:33]: I can't believe the market fell so much in less than an hour.
Andrew [10:33]: I thought maybe there was a chance we'd get done here by the end of the day - not in an hour.
Bryce [10:33]: In a normal market, oil should be about $40 a barrel, and the dow at about 8000. this run up over the last 12 months was based on economic recovery to 2006 2007 levels. It can't happen until we get people back to work. Shadow unemployment at 17%. Shadow homes inventory in the millions and growing. We are far from out of the woods.
Mckoan [10:33]: 123 If you are using Scottrade, they are having problems with their quotes this morning...
Hank [10:34]: 123 I have 2 different platforms and getting the same results on I2, started yesterday. My numbers freeze and late coming in.
Andrew [10:34]: carr, you can get a better price in AIG now
123 [10:34]: I am using ameritrade
Mckoan [10:34]: OK
123 [10:34]: am using tradeking to trade
ortrade [10:35]: And CNBC were pushing to buy GE before the close.. is almost a dollar less now.. lol..
Andrew [10:35]: long AIG 35.50
123 [10:35]: my guess all feeds will be strained today as everyone runs for the exit
ortrade [10:36]: No one will belive that market will rebounce now after all morning hopes for an uptrend went in ashes..lol..
Andrew [10:36]: doubled up on FAS 26.42
Andrew [10:37]: added to AIG 35.17
knight [10:37]: SEED is showing good sign of takeoff
Andrew [10:38]: I like longs at these levels.
Andrew [10:38]: out half FAS +2.3%
123 [10:39]: i missed the opertunity to double up on my short at close to entry price
Andrew [10:39]: out half AIG +1.7%
karenbcz [10:40]: Wow! I didn't realize DNDN had dropped so much.
Andrew [10:40]: out 2nd half FAS +2%
Andrew [10:40]: out 2nd half AIG +1.3%
Andrew [10:41]: I still don't feel too comfortable long.
Andrew [10:41]: long FAZ 14.91
rw [10:41]: neither do I andrew
Andrew [10:42]: added to FAZ 14.93 (last 2/3rds)
ortrade [10:42]: Interesting the 60min trend is more bearish now that in the morning.. lol..
123 [10:42]: did fas do a reverse split or did the price just drop 60% from where its been?
Andrew [10:42]: Reverse split 3:1
Andrew [10:42]: And then the crash came making that split unnecessary, lol
123 [10:42]: thanks Andrew
nester [10:42]: lol i asked that yesterday
LEECO [10:42]: 2 days ago andrew
Andrew [10:42]: doubled up on FAZ +15.00
123 [10:43]: up $2.00 on my options nester
nester [10:43]: 123 - you have FAZ calls?
knight [10:43]: the market should turn positive...
Andrew [10:43]: tripled up on FAZ 15.11
123 [10:44]: no faz calls...I wont ever buy faz anything again
ortrade [10:44]: vol is +104 unbelivable..
Andrew [10:44]: VIX is back near 40 again
ortrade [10:44]: Seems like the whole world is staying at home today trading.
nester [10:45]: lol. i got FAZ calls on that quick pullback 30 minutes ago. up 60+ cents on them now...
123 [10:45]: on cnbc 95% of s&p trading lower
Andrew [10:46]: That's great!
knight [10:46]: fbp 1,7
Andrew [10:46]: great about nester, not about the 95% lower
nester [10:47]: +25% right now. thinkin of holding for a while longer. we may be tanking banks for a while
123 [10:47]: 95% lower should be good for your faz Andrew
Andrew [10:47]: The financials are showing buyers near here
Andrew [10:48]: More than the broader market
knight [10:48]: take profit from HOV 7,02 to 6,09 part 2
nester [10:48]: head fake. the rest of the market may keep pulling them down. and the gov with the regulations...
123 [10:48]: may??? nester lol we will go back down to s&p 1064 at least....mayby not today but we will
Andrew [10:48]: I'm close to selling some FAZ
Andrew [10:49]: out 2/3rds FAZ -0.21%
nester [10:49]: trying not to sound so doom and gloom...
123 [10:49]: you lost on faz??? Andrew
knight [10:49]: hov 6,1
karenbcz [10:50]: GNVC
Andrew [10:50]: added back to FAZ 14.92
karenbcz [10:50]: what is GNVC doing?
karenbcz [10:50]: wonder if it's good for 0.02 cents?
Andrew [10:51]: added back to FAZ 15.06
karenbcz [10:51]: Yes, it is good for 0.02 cents.
Andrew [10:51]: I'm just trying to avoid my mistake yesterday by taking quicker losses in the triples
Andrew [10:52]: and then just getting back in if the move against me I feared wasn't as severe
majour [10:52]: Knight, r u long on HOV?
jim [10:52]: a lot of $ was made following the market bottom of 3/09 this is no different lets figure out where the bottom is and make lots of $ on the way back up
knight [10:52]: long majour for a small trade
rw [10:53]: Yes JIM absolutely right
jim [10:53]: unfortunately I think the bottom may be less than 10 K on the DOW
Andrew [10:53]: AIG has some sellers at 36.00
rw [10:53]: i am trading dxd ddm back and forth and doing ok
ortrade [10:53]: Interestingly at 9.30 the bull bear on 60 min was up and we ended down at 10.30. At 10.30 the bull bear on 60 min was down.. I will post where we are ending at 11.30.. lol..
rw [10:53]: yes I think maybe 9800
123 [10:54]: I bought hov on paper 3-30-10 at 4.56 it went up nuts like 67% but now shows 33.77% up in papertrader
Andrew [10:54]: ortrade the 60 min. at 9:30 just means what the trend was from 3:00pm -4:00pm yesterday
rw [10:54]: ddm long 43.47
Andrew [10:54]: out FAZ -0.5%
Andrew [10:54]: long FAS 26.88
rw [10:55]: ddm out 4343.63
rw [10:55]: 4363ddm out
Andrew [10:55]: added to FAS 26.83
Andrew [10:56]: added to FAS 26.84
Andrew [10:57]: doubled up on FAS 25.86
Andrew [10:58]: tripled up on FAS 26.65
ortrade [10:58]: I am testing to see the bearance of the bul bear prediction to "from now on" instead of what has happen till now. I can see right away what the trend was from now till an hour ago by looking at chart. But since the data was only from prev day at 9.30 and if we accept the claim that data from the day before has nothing to do with data from today I will only include in statistics data that does not include the the 9.30 prediction.
nester [11:00]: see, head fake on the financials. lookin to go lower now
Andrew [11:00]: I hope not
Andrew [11:01]: I'm very close to unloading FAS though
Andrew [11:01]: But I like how it held 26.50 there
ortrade [11:01]: The indexes no are pacing on the 10MA moving average on the 5min chart. It is really not safe holding skf short now as markets in most cases reverse from consolidations more than a spike up...lol..
nester [11:01]: i see FAZ at 15.60ish area before the end of the day
Andrew [11:02]: The action has gotten much more sideways making the triples more difficult to trade very short-term b/c sideways and volatile is about the worst in my opinion.
ortrade [11:02]: but I will keep my inverse SKF position only for the reason that if the market is in a sideways that should be rather narrow the entries and exits make the biggest losses.
ortrade [11:03]: The sideways may continue at least till the indexes reach the 40MA in a rather horizontal fashion..
nester [11:04]: wish i would have held my NOK short. would be at a dollar gain now
Andrew [11:04]: out FAS -1.1%
Andrew [11:04]: I think I'll take a time out until the President's speech is over
nester [11:05]: what is he selling today?
ortrade [11:05]: I expect some nasty headfakes bothways coming..
Andrew [11:05]: He's addressing employment and the economy.
nester [11:05]: oh, going back to his strengths... lol
Andrew [11:05]: back in FAS 26.74, triple position
123 [11:06]: he's harping on aprils jobs....1 person got one.....he's not talking about the spike up in unemployment...lol
ortrade [11:06]: There is also gagle at 12 and the speech at 11.30..
Andrew [11:07]: out 2/3rds FAS +1%
Andrew [11:08]: added back to FAS 27.00
Andrew [11:08]: added to FAS 27.17
Andrew [11:10]: He's now talking about the unusual market activity yesterday.
Andrew [11:11]: out 1/3rd FAS +2.2%
ortrade [11:11]: Exit SKF +175$pe
Andrew [11:12]: His speech is done now
123 [11:12]: "layoff of public servants hurts economy" yes he said servants
123 [11:12]: true socialist
ortrade [11:12]: who are they serving 123?
123 [11:13]: good question
karenbcz [11:13]: "public servants"? ROFLMAO!! They "serve" no one but themselves!
ortrade [11:14]: hm, maybe serving publicity..lol..
Andrew [11:15]: It's been a challenge having to go back to wider stops and larger profit targets as the volatility skyrocketed suddenly.
karenbcz [11:15]: My neighbor works for Fed gov't. ... she's "telecommutes" ,, does NO work. She's in her yard everyday! Our tax dollars at work!!
Bryce [11:15]: Headlines from New York Times: Traders Jump from Windows; Market Rebounds Before They Hit Ground
Andrew [11:15]: out another 1/3rd FAS +3.5%
Iswing64 [11:16]: lol bryce
ortrade [11:16]: lol..
Andrew [11:17]: out last 1/3rd FAS +4.5%
Bryce [11:17]: They wear parachutes now just in case...
Andrew [11:17]: long FAZ 14.19
rw [11:17]: Dr. Knight are you here.
Andrew [11:18]: added to FAZ 14.21 (last 2/3rds)
ortrade [11:18]: In what works breakdowns is still on top of the list..
Andrew [11:18]: doubled up on FAZ 14.26
Iswing64 [11:18]: L PCBC 5min tight stop @2.54
Andrew [11:19]: tripled up on FAZ 14.35
Bryce [11:19]: More headlines:
Bryce [11:19]: Le Figaro:
European Wheelbarrow Inventories Plummet as Euro Trades at Less Than Cost of Paper It’s Printed On
Bryce [11:20]: Athens Daily Idler:
Greece Burns to the Ground as Protesters Ask, “What the Hell’s the Point of Having Cake If You Can’t Eat It?”
Bryce [11:20]:
Cosmopolitan:
Treasury Bills Officially Replace Diamonds as Girl’s Best Friend
Bryce [11:21]:
BusinessWire:
NYSE Unveils New Slogan: “The Market Can Stay Psychotic Longer Than You Can Stay Curled Up In A Fetal Position”
Andrew [11:21]: One thing I don't like about FAZ is how the financials are showing relative strength today.
karenbcz [11:22]: FAZ is a rip-off.
Andrew [11:22]: If the market turns back to go down though, I would think we should be close to that point.
Andrew [11:26]: out 1/3rd FAZ +1.9%
ortrade [11:26]: good day on trades till now +450$pe mostly 200shares per trade and one good SKF 500shares SKF trade and so was yesterday ~+500$p.
rw [11:26]: karen I trade the DXD and DDM they are pretty good -
Andrew [11:27]: out another 1/3rd FAZ +2.3%
Andrew [11:28]: out last 1/3rd FAZ +2.2%
Andrew [11:28]: long FAS 27.57
Andrew [11:30]: added to FAS 27.55 (2/3rds)
nick14 [11:30]: i think Obama needs to get treasury to start buying to prop up this market, it is going to break 10000 easily!!
Andrew [11:31]: doubled up on FAS 27.28
Andrew [11:32]: tripled up on FAS 27.30
karenbcz [11:33]: NICK: When Obama can't take the pain anyway, he will start kissing G/S's @$$ again.
karenbcz [11:33]: anymore.
karenbcz [11:33]: typo
ortrade [11:34]: The "hook" for today. There were nice speeches the whole thing yesterday was triggered by mistake the market can go only up. The cooperation to short the hook is the institutional profitable action at least till stop losses are triggered.
nick14 [11:35]: This looks like financial crisis all over again!!
Bryce [11:36]: Yes, it was blamed on a trader with fat fingers.
Andrew [11:37]: out 1/3rd FAS tiny gain
nick14 [11:37]: Yeah I heard that B/Billion M/Million, the typing ERROR!!
Bryce [11:38]: Then O for Oh S*%#
nick14 [11:38]: "LOL"
123 [11:38]: nobodys that stupid.....I can't believe the bull they come up with
ortrade [11:38]: they should have a message box in the trading software for B "Are you nuts?".. lol..
Andrew [11:38]: added back to FAS 27.17
Bryce [11:38]: lol
123 [11:39]: fat finger should be able to drive market up 1000 points....lol
Bryce [11:40]: He needs voice recognition software like LEECO's.
Andrew [11:40]: If it's true, then they need better risk management in place.
Bryce [11:41]: Well, I don't think it is true, I think a sell off started and the gov't stopped it.
nick14 [11:41]: The Eurozone is totally loaded with credit problems, I am just waiting for credit ratings to become downgraded, Libor is rising and CDS spreads are widening BEWARE!!
Willie2 [11:41]: A new term has been added to the english slang like "going postal" now we can plame any screw up on "fat finger" LOL LOL
Bryce [11:42]: lol
rw [11:42]: "take the easy way out"
Andrew [11:43]: out 1/3rd FAS +1.1%
123 [11:44]: gov wants to take over financial system to suck the money out of it...."fat finger" came in handy to get people to ralley behind reform
Andrew [11:44]: out another 1/3rd FAS +1.6%
ortrade [11:44]: The hourly bul bear at 10.30 was bearish and the market is up at 11.43 (score 0,1). At 11.30 the bear bull 60 min was bullish.
Bryce [11:45]: Good job Andrew!, Your the only one with guts to trade! Way to go!
Andrew [11:45]: out rest of FAS +2.2%
Andrew [11:46]: long FAZ 14.38
Andrew [11:46]: I was very good at trading days like these back in the fall 2008.
Andrew [11:47]: added to FAZ 14.40
Bryce [11:47]: Experience pays off.
Andrew [11:47]: added to FAZ 14.41
Andrew [11:48]: doubled up on FAZ 14.26
Andrew [11:49]: tripled up on FAZ 14.28
jim [11:50]: Andrew are trading with real$ or paper?
ortrade [11:50]: market is likely sideways now and the bars are rather big.. Around the 10600 level in DJI I may hit the 200-500 hundered buy button on SKF.
Andrew [11:50]: Paper trading today jim.
jim [11:50]: thanks Andrew
Andrew [11:51]: Unfortunately, lol
ortrade [11:51]: What I cant understand is why for few hundered shares we have a mouse and for a billion shares we have a keyboard button.. lol.. It should be the other way around..
Bryce [11:52]: Be careful of the fat finger ortrade, you may crash the market.
Andrew [11:52]: out 1/3rd FAZ +1.3%
ortrade [11:52]: lol..
ortrade [11:53]: Bryce I swear it was not me..
jim [11:53]: I think the boys at GS are playing with us showing us how much control they have
Andrew [11:53]: lol
Bryce [11:54]: Ok, I won't tell obama.
Andrew [11:54]: Maybe I should start looking for individual stocks instead of just ETFs. The market could get choppy mid-day.
ortrade [11:55]: I used yesterday and today best in "what works" succesfully for stocks.. after 10.30am
Bryce [11:55]: Well, the market is going into lunch time, maybe a trader will drop a meatball out of his meatball sandwich on to the buy button and send a big buy signal.
Andrew [11:56]: We could end the day with more volume than yesterday possibly.
ortrade [11:57]: Bryce.. you could make big dow on that one .. send it to nytimes..
knight [11:57]: like i said at 10:45 - we are going green...
Bryce [11:57]: Headline: meatball sends dow to 12000, trader get sauce on shirt.
ortrade [11:57]: lol..
Andrew [11:58]: The market's right at the point where I think there's a 50% chance it could go each way.
Andrew [11:59]: Most stuff is still down on the day, but SPY is now trying to use the 50-period moving average as support instead of resistance.
ortrade [12:00]: 10 and 40 SMA are crossing on DJI and we are realy very close to the daily open on all indexes..
Andrew [12:00]: A drop below 111.50 would get me more bearish again.
ortrade [12:02]: SKF 1000@20.25$pe
Andrew [12:03]: out rest of FAZ +0.6%
Andrew [12:03]: long FAS 27.81
Andrew [12:03]: doubled up on FAS 27.95
Andrew [12:04]: tripled up on FAS 28.08
Andrew [12:06]: The financials are back positive since the open
knight [12:06]: Market maker has play with us all the week to full their pocket...
knight [12:09]: like a cat with a mouse.. before to kill her..
ortrade [12:09]: actually I hit the button on PWR on on SKF 1000@20.25
ortrade [12:10]: Exit PWR +40$pe
ortrade [12:11]: SKF 1000@20.13$pe
Andrew [12:12]: out 2/3rds FAS +1.3%
ortrade [12:12]: meant on PWR not on SKF 1000@20.25
Andrew [12:12]: I'll add back to FAS if SPY gets above 113.00 again.
Andrew [12:14]: tripled up on FAS 28.50
Iswing64 [12:21]: Out pcbc small loss
knight [12:21]: take profit from FAZ 15,2 to 14,02 part 1
knight [12:22]: another easy trade...
Andrew [12:23]: quadrupled up on GAS 28.64
Andrew [12:23]: FAS
knight [12:23]: SEED show a nice curve up, will fly very soon
knight [12:24]: soon as we got more volume on some positive news
Andrew [12:26]: out half FAS -0.6%
Andrew [12:27]: added back to FAS 27.93
ortrade [12:27]: Exit SKF +180$pe
karenbcz [12:27]: Geesh, knight! SEED on the rebound!
karenbcz [12:27]: I wish I could find a penny stock like $EED.
Andrew [12:28]: added to FAS 28.00
Andrew [12:32]: out FAS -1.35%
Andrew [12:33]: back in FAS 27.54
Andrew [12:34]: doubled up on FAS 27.55
ortrade [12:34]: I find it usefull testing the portfolio value stdv after a day of trading ..
Andrew [12:35]: tripled up on FAS 27.64
Andrew [12:39]: out 1/3rd FAS +1.5%
Andrew [12:42]: out another 1/3rd FAS +1.5%
Andrew [12:44]: out last 1/3rd FAS +1.3%
Andrew [12:44]: long FAZ 14.37
Andrew [12:44]: doubled up on FAZ 14.42
Andrew [12:45]: tripled up on FAZ 14.36
Andrew [12:52]: out 2/3rds FAZ -0.65%
Andrew [12:53]: back in FAZ 14.37 (double position)
rw [12:56]: Andrew: Your posts are very helpful.....Thanks....
rw [12:57]: i am trading SSO and DXD seems to work better for me - I have up a minute SPY chart and a 2 minute SPY chart I would post but things happen to quik and I have a seperate mouse for my second computer.......
Andrew [13:00]: out 1/3rd FAZ +1.4%
Andrew [13:01]: We're at key levels where if there is more selling, the downtrend can continue.
Andrew [13:10]: out another 1/3rd FAZ +2.7%
usdojpr [13:12]: andrew- I saw that your stated you were paper trading. Are you still paper?
Andrew [13:12]: Yes, I'm away from my trading computer today visiting some family members.
carr [13:13]: With Andrew paper or real it does not seem to matter, he takes both very seriously
carr [13:14]: as do most here who trade paper ocassionally to test a new strategy
Andrew [13:14]: I haven't added it up yet, but today might be my best day paper trading ever.
Andrew [13:17]: added back to FAZ 14.68
Andrew [13:19]: added to FAZ 14.72
carr [13:19]: rw you may want to post your trades when you get a slow period just so people can see what you are trading and how you are doing. It would help I am sure.
Andrew [13:20]: The last couple of hours have been pretty sloppy, but the overall bounces have been sold into pretty hard for the most part.
Andrew [13:21]: If SPY doesn't start holding above 112.00 pretty soon, I fear we may continue down a lot this afternoon.
usdojpr [13:22]: carr- how are you doing with all this crazyness. Im paying a high price not sticking with my rules.
ortrade [13:23]: DJI is still on the 50% fib on the range..
carr [13:24]: usdojpr, I currently only have 1 stock that is making money, but you don't loose money until you sell. I have faith in what I am holding, and will wait for a better day. I don't let the mob make me panic sell.
usdojpr [13:24]: now it seems I have no choice to stay in if im going to make it up the last few days
Iswing64 [13:25]: I've seen that andrew..just when i see a trade..a no buy indicator kicks in and back down she goes.post 13:20
Andrew [13:25]: I really got fooled shortly after noon when the buyers seemed to gain back control and kill the downtrend, but that 12:15-12:35 selling wasn't pretty.
usdojpr [13:26]: in the past I have sold longs at the bottom. I dont want to make that mistake again. Im not sure if I can stomach this. Im ready to just shut down the computer at this point
carr [13:26]: usdojpr as long as it takes unless you have very speculative stocks. I am Mr. Patient and will hold for weeks if I have to.
Andrew [13:26]: We could still go either way at this point.
Iswing64 [13:26]: Waiting,,
Andrew [13:27]: I have the feeling that the sellers could easily get control to if they didn't want to worry about holding out for better prices.
123 [13:28]: usdojpr you can buy puts on your longs to guaranty you can get out at current price if bottom falls out
carr [13:29]: usdojpr, I have a bad habit of not using stops unless I am really just rolling the dice, and time and patience has usually paid off for me.
carr [13:29]: 123 that is a really good point, and I need to spend a lot more time understanding options.
Andrew [13:29]: quadrupled up on FAZ 14.75
123 [13:30]: Gars book is all you need.
usdojpr [13:30]: 123- I will be studying up on puts a little more this weekend. I will also buy Gars book.
carr [13:30]: I have the book, and understand the concepts, just need to look at how it fits with my overall strategy.
carr [13:32]: and probably start by paper trading options to see how well I do. I have not paper traded in years, but now might be the time.
usdojpr [13:33]: the pattern been the same all week. Sell on the gap up. buy it back later in the day. I just dont seem to execute it. As soon as I do the pattern will change. I have seen 4-5k swings in Nflx alone in my calls.
Andrew [13:33]: out 3/4ths FAZ no gain/loss
123 [13:34]: Gars book was a game changer for me. I have a pretty good idea from charts what a stock will do over a certain period. It is nice to only put $1000. on line instead $20 to $25K for same trade on stock. Great leverage and if you buy puts that do totally wrong you can buy calls to even out the loss.
Andrew [13:35]: added to FAZ 14.55
carr [13:35]: 123 that is what I have been thinking. Way more leverage especially if you select the right stocks.
Iswing64 [13:35]: A -dmi signal just tripped on 5min faz???
Andrew [13:35]: added to FAZ 14.53
Andrew [13:36]: I'm just trying to improve my avg. price while still believing in the overall trade over the medium term.
123 [13:36]: I play the options just like it was a stock trade.
usdojpr [13:36]: Lots of homework this weekend!
carr [13:37]: yeah, me too usdojpr also lots of strategy review.
carr [13:38]: Andrew, are do you trade options, or just the undelying security
Andrew [13:38]: I've never tried options before.
carr [13:38]: thanks
Andrew [13:39]: They seem a little scary to me, but I'll get Gar's book soon.
Andrew [13:41]: added to FAZ 14.49
usdojpr [13:42]: I feel like im in vegas ready to run to the atm.... I guess I better sit on hands.
Iswing64 [13:42]: may get another -dmi on faz andrew...down
Iswing64 [13:42]: oops just did
Andrew [13:43]: out half FAZ -0.9%
Andrew [13:45]: added back to FAZ 14.34
Andrew [13:45]: added to FAZ 14.35
carr [13:46]: anyone who is on a free trial, new or don't know this already, Gar's book can purchased at http://www.garsworld.com/Bookpromo.htm do yourself a favor and purchase this book even if you decide not to join (which to me would be a big mistake). You can take the book with you wherever you go, and it will help you be a better trader. I am not a paid spokesperson for Garsworld.com just a trader like everyone else here.
Andrew [13:47]: out FAZ -1%
Andrew [13:48]: This mid-day action has really gotten me confused.
123 [13:48]: the euro is up so dollar is down....thats what seems to be holding market up here
Andrew [13:49]: back in FAZ 14.37
whoopsie [13:49]: this whole US market has got me confused, from UK, finally have a US account open, ready to trade but still working on it!
whoopsie [13:49]: thanks for the recommendation carr
carr [13:49]: flower if you are out there, it looks to me like JTX has pretty much hit bottom and is sideways at the moment.
carr [13:50]: hey whoopsie are you new on the site?
Andrew [13:50]: tripled up on FAZ 14.37
whoopsie [13:50]: new to US stocks
ortrade [13:51]: Sideways markets are tastier then all trends..lol..
whoopsie [13:51]: been trading Uk stocks for about 18 months
carr [13:53]: whoopsie, this is probably the best place to watch and learn about mostly US stocks. Try following people like Andrew, Hank, Swing, Leeco and ortrade around on the paper trade feature for a while, and you should start to get the basics. Andrew trades a lot and is sometimes hard to follow, but he does pretty well.
whoopsie [13:53]: Yeah I have noticed over the last few days
whoopsie [13:54]: on trial with Stockvision at the moment but will definetly buy it
Andrew [13:54]: added to FAZ 14.47
whoopsie [13:54]: dropped Ga an email ysetrday, promptly replied explaining very well
whoopsie [13:54]: *Gar
carr [13:55]: Great whoopsie welcome to the family. Find a few people who seem to exhibit a strategy that is compatible with yours and watch their trades.
Andrew [13:55]: out half FAZ +1.2%
Hank [13:55]: HNSN 2.34 add
Andrew [13:57]: added back to FAZ 14.49
Andrew [13:58]: added to FAZ 14.47
whoopsie [13:59]: yeah, only thing is I don't short, seems a lot of people do here?
Andrew [14:00]: A lot don't also... it seems to be a mix.
carr [14:01]: Actually whoopsie, I don't short either, and there are a lot of people who don't. There are day traders who basically by definition do both and those are the people who post the most trades. But there are also many swing traders here as well.
carr [14:02]: We have a really good balance of both styles.
whoopsie [14:02]: Yeah, I just need to monitor board and get used to it
Mckoan [14:02]: For a day trade, bought 500 SSRI this morning at 18.48. Bought at the bottom of Bollinger Band. Target price to exit will be 19.19 or at the close. Reading the book Bollinger on Bollinger Bands and have been experimenting with it day trading.
Mckoan [14:03]: OH....using a 20 minute chart.
carr [14:03]: whoopsie you can also go back in time for about a week, and look at the trading patterns.
knight [14:04]: still FAZ short
nester [14:05]: Leeco - think you will like this http://www.boeing.com/Features/2010/04/bca_cold_soak_04_22_10.html
123 [14:05]: I switched to swing trading options using 60min daily and weekly charts.
carr [14:05]: knight is also a really good trader to watch. He uses both styles and seems to do very well.
whoopsie [14:05]: Not bad Mckoan, although I don't have that much dollar to play with
whoopsie [14:06]: I will need to stick with the cheaper stocks
knight [14:06]: you should try PEIX +- 10 % each trade
carr [14:07]: you need cheap but good stocks if you have a limited budget
123 [14:07]: Whoopsie than you should buy Gars book on options. Made for people with small accounts but works with big accounts also.
Andrew [14:07]: The market is right near its VWAP right now - I wonder which way it will break.
LEECO [14:08]: knight-are ypu saying buy & sell PEIX sveral times q day now-I already hold it at $2?
Mckoan [14:08]: Whoopsie, as a suggestion, purchase Gars trading book, "Low stakes Power Trading". Gar will expain how you can trade successfully with just a few thousand dollars.
ortrade [14:08]: PNR 200s@32.79$pe
knight [14:08]: when you start , the best thing with gar system is't paper trade and see you result without losing money....
nester [14:09]: whoopsie - don't believe that you need to trade cheap tickers because you don't have lots of capital. those can take your money quicker than the larger dollar tickers.
whoopsie [14:09]: Yes will be taking a look into buying Gars book
Hank [14:09]: LEECO , is that your picture, you sure are a handsome fella with that winter suit on.
Andrew [14:09]: out half FAZ +1.4%
123 [14:09]: I made $160.00 with a $540. option buy a few days ago. If i would of held out I could have made close to $3000. on that trade. That was my first option trade. My current buy from yesterday is up 67% or so.
rw [14:10]: LEECO -- I thought you sold PEIX long ago.... maybe just half or so??
karenbcz [14:10]: 123- WHICH option was that!!?
Iswing64 [14:10]: Nice job 123..
LEECO [14:10]: no rw in the bag
karenbcz [14:10]: I'd like to make $3000 on a $140 option ... also possible, but hard to find.
whoopsie [14:11]: Thanks Nester, I was looking at probably $1-$5 stocks
rw [14:11]: Ok ----n=my memory not as good as used to be
LEECO [14:11]: nester BA video interesting
123 [14:12]: Karen erx puts...bought at 2.70 and it went nuts....dont remember exact top...now I have 37.80 puts on erx at 3.30 current bid 4.90
nester [14:12]: becareful of those between $1 - $3. they go against you quick. i like what 123 has been doing with the options you can gain more on little money.
ortrade [14:13]: Exit PWR +30$pe
karenbcz [14:14]: 123-Did u buy those puts yesterday?
123 [14:14]: I papertraded a bunch nester went underwater but all came back...zero losses > I am up $667.50 right now on 1320.00 buy
Andrew [14:14]: out half remaining FAZ +2.5%
ortrade [14:15]: DJI on consolidation line
123 [14:15]: the 37.80 puts i bought yesterday posted buy about 2:12
nester [14:15]: that is great.
karenbcz [14:16]: Ortrade ... I see that .. maybe bear attack is over. :>)
123 [14:16]: up 700 now
Andrew [14:16]: added back to FAZ 14.70
karenbcz [14:16]: 123-EXCELLENT!
whoopsie [14:16]: 123.....is that options book from Gar the same as this: http://www.garsworld.com/Bookpromo.htm
nester [14:16]: i just might give you the keys to my account
Andrew [14:17]: added to FAZ 14.64
carr [14:17]: yes whoopsie that is the site to buy it direct
123 [14:17]: I wasn't getting that kind of return on $25000. stock buys. Plus I can only lose 1320. on the option....been way more underwater than that on stock buys.
whoopsie [14:18]: thanks
123 [14:18]: Yes whoopsie thats the book.
whoopsie [14:18]: :)
ortrade [14:18]: Also if you have ATR (measures volatility) on the indexes has been gooing down systematically since 10.50 on DJI
nester [14:18]: silver and gold are up today...
picker304 [14:18]: Hello everyone been mowing all day what fun
carr [14:19]: hey picker, I'll bet we had more fun here than you
karenbcz [14:19]: Low-Stakes Power Trading .. IS THAT A PDF FILE YOU DOWNLOAD?
Andrew [14:19]: added to FAZ 14.61
carr [14:19]: exept rw went to the gym this morning and did not have that much fin
picker304 [14:20]: Oh? I'll have to rewind chat and check it out later
123 [14:20]: yes karen but you have to login to read but you can print out book
karenbcz [14:20]: Do I download a PDF file so I can read the book online. (don't have kindle)
carr [14:20]: no karen, once you buy it is a online book that you can print locally or access it whenever you want. You do not need kindle
carr [14:21]: If you buy it on Amazon you need kindle
moby [14:21]: Gar makes more money when someone buys direct from him
whoopsie [14:22]: its cheaper through the website
moby [14:22]: rather than through Amazon
carr [14:22]: yes he mentioned that last night, and you don't need kindle if you buy it direct
moby [14:23]: he just has it through Amazon for extra exposure
nester [14:23]: karen - you can just print it out using the available option on the top of the page.
picker304 [14:23]: Anyone made any green stamps today?
moby [14:23]: plus carr you should ask Gar to email his 500 subscribers
moby [14:23]: that he has a book
Mckoan [14:23]: The book is only 19.95 when you buy on the web site. Load with good info.....
123 [14:23]: My strategy is buy puts on strongest etf's when they spike up on 60 min chart...and if market goes down they really pay off...if etf pulls back you still win
nester [14:23]: like that...
moby [14:24]: I bet for $19.95 he says 400 I bet only 20% know that he even has a book
Hank [14:24]: HNSN 2.34/2.42= .08 3.5% part 1 still holding part 2
moby [14:24]: says, I mean sells
carr [14:24]: moby you are absolutely right, and I will work on that.
123 [14:24]: erx energy etf...energy has been leading market up so it should lead market down
Andrew [14:25]: out 1/4th FAZ +1.3%
nester [14:26]: banks are fallin again
moby [14:26]: carr: tell him for 10% comission you will do it for him....one less thing he has to do, he apparently has a big to do list
Andrew [14:26]: out another 1/4th FAZ +1.8%
123 [14:27]: moby I got the book email from Gar also so people don't read or something??
carr [14:27]: Moby thanks but I don't need Gar to pay me commisssion, this program has already made more money for me than I ever expected.
Andrew [14:27]: added back to FAZ 14.82
Andrew [14:28]: I wonder if we wind up going back through the morning's lows
moby [14:29]: huh, 123 you got an email sent to your address? shucks I didn't even get one, and I think I was the first to buy his book, at 3 a.m. on a Sat nite
moby [14:29]: well I'
moby [14:29]: wee; I'm glad you mentioned that 123
moby [14:30]: well*
123 [14:30]: I thought Gar emailed everyone about the book. Should tell Gar to re-email everyone.
moby [14:30]: yeah for sure
Hank [14:31]: HNSN 2.42
123 [14:31]: If Gar could market as good as he creates he'd be a zillionaire.
Andrew [14:31]: out 2/3rds FAZ +1%
moby [14:31]: yeah that's why he needs carr
moby [14:32]: carr is the martketing man
123 [14:32]: He should have a buy book here tab on SV.
Andrew [14:32]: That's a great idea 123.
moby [14:33]: yeah that too
Andrew [14:33]: doubled up on FAZ 14.82
123 [14:34]: uo 880. on option now...
123 [14:35]: up not uo
karenbcz [14:35]: 123-which one?
picker304 [14:35]: If we don't find a way to keep trials nothing else will matter. If you have a 1000 trials a week but they don't stay what have you gained?
Andrew [14:35]: tripled up on FAZ 14.74
Andrew [14:37]: I wonder if there will be any fear of holding stocks over the weekend due to the potential for bad news from Europe.
123 [14:37]: I'll paste yesterdays trade here....this is what i'm up on...123 [14:12 (USA)]: bought 4 put contracts erx 37.80 strike paid 3.30 was waiting for market to run up for better price...doesnt look like that is going to happen
Andrew [14:38]: Wow, I totally should have gotten back in AIG above 36.00.
ortrade [14:39]: while DJI droped below consolidation trendline volatility is going lower (ATR)..
Andrew [14:40]: added to FAZ 14.68
Andrew [14:41]: out half FAZ -0.33%
carr [14:42]: Moby, thank you for the compliment. I am not looking for a job, but I absolutely beleive in this product. I have always supported honest businesses that I have faith and condidence in and will devote any personal time that I can to make sure that anyone who wants to make money in the stock market has the best chance to do that. StockVision is an amazing product with an amazing forum, and based on the tens of thousands of dollars I have spent on useless sofware over the years, it is an incredible value at a rediculously low price. Picker has been doing the marketing and doing a fine job at it. My strengths (although I do have a sales and marketing background) is overall business development.
Andrew [14:42]: out rest of FAZ -0.87%
Sandman [14:43]: Guys do you think RSO will go under $6.00?
Andrew [14:45]: Thanks Carr and Picker, and everyone else helping out.
Andrew [14:46]: back in FAZ 14.65
Andrew [14:47]: doubled up on FAZ 14.66
nester [14:47]: Sandman - right now i would say yes, it will drop at least there
Andrew [14:48]: Its chart looks similar to the market, so if the market goes back through lows, RSO might. Otherwise, probably not.
Iswing64 [14:48]: ADX on a 5min falling sandman
Sandman [14:49]: Thanks guys
Andrew [14:49]: tripled up on FAZ 14.73
Hank [14:49]: Sandman, my 5cents worth, sitting on pivot area or support. below 50% of last candle , Mac, below zero line or that area and RSI not crossed yet, below 50 dma looks like southbound, imo
123 [14:50]: s&p still bouncing off 10ma from bottom side on 60 min charts
Andrew [14:52]: out FAZ +1.1%, will re-buy above 14.87
Hank [14:53]: Sandman, alot of stocks today look like RSO lol
Andrew [14:54]: back in FAZ 14.82
ortrade [14:57]: Rso likely will stay sideways unless the market sells off - potential bounce is the daily open..
Andrew [14:58]: doubled up on FAZ 14.74
Hank [14:59]: MRGE daily volume more today than all week.
karenbcz [14:59]: Knight here?
karenbcz [14:59]: nvmd.
Andrew [15:00]: tripled up on FAZ 14.74
madriver [15:00]: "blasted Blankfein for employing one of his sons at Goldman and getting the other into Harvard by using the company as his "personal piggy bank yet Buffet thinks his a fine leader" ahh
karenbcz [15:01]: Blankfein ... "doing God's work" .. ROFLMAO!! What pig!
Gar [15:02]: How's everyone doing? If you play this right, the market is a trader's paradise! All over the map, great money maker for trading!
carr [15:02]: Karen, knight looks to be gone
karenbcz [15:02]: St. Peter has a special place reserved for him ... in hell!
karenbcz [15:03]: Blankfein ... that is ...
123 [15:03]: Buffet has 5 billion in GS last time he pumped the stock it went up 3%
Andrew [15:03]: Yes, a great day - though could have been a lot easier i it wasn't as sideways as it has been for the last few hours.
karenbcz [15:03]: Yes, GAR ... I see cheapie CROX did quite well.
madriver [15:03]: Blankfein is Pee Wee Hermans long lost brother. I think he looks like Pee Wee...
Andrew [15:04]: lol
Iswing64 [15:04]: lol
Gar [15:04]: karen....what's the difference between praying in the stock market vs. praying in church? (Answer: When a stock trader prays, he REALLY means it).
rw [15:04]: lol
Hank [15:04]: SEED 7.73 short add
carr [15:04]: lol
123 [15:04]: Gar you need to email SV people about your book...a bunch here today are interested in it but said what book??
karenbcz [15:04]: Madriver: ROFLMAO!! ROFLMAO!
karenbcz [15:04]: pee-wee herman roflmao!!
karenbcz [15:05]: MAD: Thanks for the laff. I was feelin' kinda low today.
rw [15:05]: i think pee wee had some emotional problems ---emotional revolt of soul or something
Gar [15:05]: 123, we did that already, at least the paid subscribers. We are now mailing to everyone else. But you have a point, new people don't know about it...unless they see it on the web site.
Mckoan [15:05]: Gar- might want to have a TAB up top for ordering the book.
ortrade [15:06]: KG 1000@9.64$pe
Gar [15:07]: By the way, this so-called "trading error" yesterday? Reports about that are bogus. Rick Senteli said today that you physically cannot enter an order larger than 2000 contracts in the eMini futures (which is where the "error" supposedly occurred). So this talk about "b" vs. "m" (billion vs. million) is bugus.
carr [15:07]: Hank I hope SEED short is a day trade for you, I am getting ready to go long on it.
Andrew [15:07]: quadrupled up on FAZ 14.83
karenbcz [15:07]: For the Record ... on my way to financial ruin ... I reloaded on FBP ... to make up for losses ... this is called "the suicide technique".
Gar [15:07]: I have done papertrade only today, but did almost 5% on shorts. Like taking candy from a baby.
karenbcz [15:08]: GAR: I knew it was a LIE. And I don't even have a TV.
karenbcz [15:08]: It just "sounded" like a LIE.
rw [15:08]: karen i think dr. knight was buying fbp so you may be ok
Gar [15:08]: Dow is going to close way lower than -200.
karenbcz [15:08]: I could visualize (being that I have no TV) Sue Herrerra saying this nonsense on TV.
Iswing64 [15:08]: Andrew..think faz will bust out of this trading range last hour?
Gar [15:08]: I happen to know exactly how/why the Dow fell like that. It finally occurred to me today.
karenbcz [15:09]: GAR: Of course, if Maria Bartiromo says it, everyone thinks it's true.
karenbcz [15:09]: GAR: Let's see if your answer is the same as mine....
Gar [15:09]: I will tell you one thing I am certain of. The low that the Dow spiked to yesterday is THE place the Dow wants to go.
Andrew [15:09]: Yes iswing - very confident
karenbcz [15:09]: It was PLANNED
Iswing64 [15:09]: me to
Gar [15:09]: And it will probably go there within a couple of weeks.
karenbcz [15:10]: You mean 10,380 ... where it is now?
Andrew [15:10]: ...which probably means I'll be wrong lol
Iswing64 [15:10]: no!! lol
Gar [15:10]: I am going to write up the details in our market report on our site this weekend (which by the way, that report PREDICTED this downslide for this week).
Gar [15:10]: No, where it was at the spiking low yesterday, which I think was around 9800.
Andrew [15:11]: out 1/4th FAZ +1.2%
karenbcz [15:11]: Well, "no more bailouts" ... means the market is FREE.
nester [15:12]: it was just a "testing of the waters" CNBC was talking to those on the street about the drop and they were just not worried about it. It will continue north...
Gar [15:12]: I will summarize what I believe happened. The market has been at the mercy of Forex vs. stocks with zillions of program/robot trading. For several months, stocks have been trading in reverse lockstep with the dollar. However, that changed in the last two weeks. Market has been trading in absolute lockstep with the Euro. Well, guess what, the Euro spiked WAY low before that massive downslide in the market. That triggered all the b/s robots to dump, causing a cascade.
karenbcz [15:12]: GAR: did you buy any chance get to look at the TRAP I mentioned yesterday on the MASSIVE sell on "C" @ 10;12 in the a.m.?
Andrew [15:13]: I think it was a bad tick karen
Gar [15:13]: No, I forgot. However, the entire market was a "trap" yesterday.
karenbcz [15:13]: Gar: My broker friends told me NONE of their clients got out of the market.
Gar [15:14]: It amazes me how the diehard dip buyers keep trying to prop this up.
Andrew [15:14]: It's really annoying to hold bear triple ETFs through these sharp buy spikes in the market.
Gar [15:14]: karen, that confirms my theory, because it was the programmed trading that cascaded. Like hedge funds and instututions. My guess is they all had stops, and the spiking-down Euro tripped everyone's stop on socks and it cascaded.
Andrew [15:14]: I got shaken out a few times because of it.
karenbcz [15:15]: GAR: well look how they "propped" it up last year with TARP funds. Nobody knew what was going on until May/June.
madriver [15:15]: Gar....what do you guess will be near the bottom on S&P?. I don't care about the dow so much
Gar [15:15]: Why the Euro? I don't know, but here is what tipped me off. Precisely at the time of that huge spike lower, the Euro spiked lower. Yet, the dollar did NOT BUDGE. So that tells me all this program trading b/s is locked into the Euro.
Andrew [15:16]: out another 1/4th FAZ +1.2%
karenbcz [15:16]: LOL!! 'cause the US $$D is dead!
Gar [15:16]: Probably about 1000 for the S&P, maybe high 900's if things get even worse.
madriver [15:16]: they didn't prop it up in 2008 when I tried dip buying and got killed then in 2009...beautiful things happened
karenbcz [15:16]: GAR; Euros moving the "global" markets now????
Gar [15:16]: My theory is based on the fact that I have observed the market has been in absolute lockstep with currencies.
Gar [15:17]: I think the Euro hit some "sweet spot" that tripped everyone's stops, which caused the market to collapse.
karenbcz [15:17]: GAR: Personal question ... for you???
madriver [15:18]: oh no
Gar [15:18]: For me?
karenbcz [15:18]: GAR: how many computer screens do you trade off of? :>)
Andrew [15:18]: added back to FAZ 14.81
karenbcz [15:18]: rofl! :>)
karenbcz [15:18]: just curious.
karenbcz [15:18]: I need SIX at least!
madriver [15:18]: Gar I have a personal question for you......do you live in a house?
Gar [15:18]: I trade off of like 1 or 2.
Gar [15:19]: Yeah I live in a house. Where else do you think I would live?
ortrade [15:19]: Market makers will make the most of the market if it stays sideways today..
karenbcz [15:19]: GAR: IGNORE THE "madman" above! ROFL!
123 [15:19]: lol
Gar [15:19]: Sideways...?? Market has been anything but sideways, it's been snapping all over the place.
Andrew [15:20]: added to FAZ 14.73
karenbcz [15:20]: GAR: madriver is the class clown ... the one your parents told you NOT to be friends with when you were a kid.
Gar [15:20]: I think we could be looking at a major sea of red on Monday.
karenbcz [15:20]: GAR: I keep telling people ... THIS IS A CRASH, not a correction.
Gar [15:21]: If these bozos try to jam the market up into the close, then we are looking at major major downside on Monday.
karenbcz [15:21]: sorry i bought that FBP now. :>(
madriver [15:21]: why oh why
karenbcz [15:21]: GAR: It's Friday. I don't think they're going to make it go up.
Andrew [15:22]: Another annoying buying spike...
Gar [15:22]: The bottom is not here until the analyst clowns stop saying "Buying opportunity." They need to say "No end in site to the downside" for a real bottom.
Andrew [15:22]: out half FAZ -0.17%
Gar [15:22]: karen, I have said that for the last 19 Fridays. And every time they do it anyway.
ortrade [15:22]: If you look at 10 and 40 MA slopes on DJI are close to eachother where the 40MA is not very far from 0. Its a natural cognition bias if market dropped big yesterday to want it to drop again bofore the close. The big moves took place in the market till 10.30am today - is where it was easier to make money..
123 [15:22]: fbp another Knight stock I put it in papertrader when he recomended it -21.92% now
madriver [15:22]: i know they said that all last night.....I'm like that means don't buy
karenbcz [15:23]: GAR: That's true. I remember ... 'cause everytime you said it, I said it was a gov't sponsored bull market ..compliments of G/S.
Andrew [15:23]: These retracements are pretty brutal
madriver [15:23]: knight what happened.....his trades are usually golden!!!
Andrew [15:23]: added to FAZ 14.68
rw [15:23]: I do not recall a losing trade for him
Gar [15:23]: Well then I guess the government-sponsored bull market has really messed up.
madriver [15:24]: karen.....do you believe in conspiracy theories?
Gar [15:24]: Maybe he simply doesn't post the losers?
rw [15:24]: LOL
madriver [15:24]: maybe
karenbcz [15:24]: GAR: I have a suspicion ... Obama spoke in "code" .. when he said "no more bailouts" ... then congress nailed blankfein the next week. I think this crash should've been expected.
Gar [15:24]: I must admit that ALL LOGIC says they will dump into the close. Which means they might not.
madriver [15:25]: gar be nice to knight he's one of your paying customers
Gar [15:25]: karen, quite frankly, I don't think any of those people are clever enough or adept enough to pull off such things.
Andrew [15:25]: I'd be really surprised if they don't sell the last half hour.
ortrade [15:25]: knight had good calls on faz earlier..
carr [15:25]: So anyone want to roll the dice on a real penny stock where you can buy 1m shares for $5 to $6 hundred?
karenbcz [15:25]: GAR: they don't have to "clever" ... just manipulative.
Gar [15:26]: I don't buy into any of these market conspiracies. At least not outside normal "manipulation" by speculators that has been going on for 200 years.
karenbcz [15:26]: CARR; Buy FBP @ $1.71. You can go BK with me. LOL!
Gar [15:26]: Our market report predicted this downslide---last weekend---with specific evidence.
Andrew [15:27]: I don't think any of this seems to suspicious. The market was so overbought without much profit taking for so long.
nester [15:27]: carr - just wait. you will be able to buy BAC for that soon... lol
carr [15:27]: well at least I got a reaction LOL
Andrew [15:27]: Feb-Apr. went straight up with hardly any red days
madriver [15:27]: anyway, someone I know things AL-Qaeda flipped a switch yesterday. How's that for conspiracy theories. I personally don't believe it but apparently it's out there
carr [15:28]: or the Citi trader really did push the wrong button madriver
Andrew [15:28]: added to FAZ 14.82
Gar [15:29]: Interesting stock to short into the close---AGNC.
123 [15:29]: the crash coinsides with BO's financial reform he wants....putting GS on trial didn't get the job done...he needed a new crisis....luck he got one???
madriver [15:30]: goofy
Gar [15:30]: What's funny is there are all kinds of theories and reasons for the crash. What's wrong with it just crashed from a bunch of freeked out hedge funds?
madriver [15:30]: bingo
123 [15:30]: thats too easy Gar
madriver [15:31]: you got it Gar
Gar [15:31]: Well, last I checked, when large sell orders enter, stock fall. I don't know any other way they fall.
Andrew [15:31]: out 1/4th FAZ +1.1%
nester [15:31]: can't be that easy. then what would we talk about?
Gar [15:32]: We talk about how we exploited the stupidity and made a killing...lol.
123 [15:32]: fast money say trading floor suspected a hedge fund was liquidating for several days before the crash
madriver [15:32]: maybe it happened in Greece and someone threw a brick through a bank window and tripped off the computer sell button...slap stick
madriver [15:32]: that's probably what happened....
karenbcz [15:33]: 123- yeah, yeah ,,, tell 'em anything .. LOL!
madriver [15:33]: Citi has an office in Athens
nester [15:33]: i liked Bryce's "meatball theory"
Andrew [15:33]: out another 1/4th FAZ +1.6%
Gar [15:33]: Remember the #1 GOLDEN RULE for trading: (1) Wait for the market to do something stupid, (2) Wait a little longer than what makes sense for them to keep being stupid, then (3) Go the other way. That golden rule would have worked beautifully for the bogus run-up in the last few months.
Andrew [15:33]: Sometimes you need to wait a lot longer for #2 (or at least I do).
Gar [15:34]: Wow, Dow -200 now, that's more like it. Then again, if you want to be short Monday, you want them to try to jam it higher before the close.
Iswing64 [15:34]: Good job andrew.
madriver [15:34]: Gar.....you can't time that...geez
123 [15:34]: Gar my option from yesterday is up 74% but holding out for crash
Sandman [15:34]: Gar It must be March 5.
madriver [15:35]: sandman...the lows
Gar [15:35]: 123, you mean you are up 74% and you will still hold? Eee gads...!!
nester [15:35]: not enough profit?
madriver [15:35]: that's what you call greedy!!!!
Andrew [15:35]: added back to FAZ 14.97
Gar [15:35]: I stupidly sold my XLF puts like yesterday even before the "big one."
123 [15:36]: yep gar my last option went over $3000. up from $560. investment sold at $160... wont happen twice lol
nester [15:36]: did the same thing Gar i shorted NOK then sold it for a loss right before it crashed
madriver [15:36]: 123 is bragging...guess what
Gar [15:37]: Yeah but carr read my book, and he's doing great. The WHOLE WORLD should be pounding my door down to get this stuff. Yet, last I checked, there is no one outside my door.
123 [15:37]: not bragging but dont want to sell and watch it take off again.....worse than losing to me
Dan-O [15:38]: hello all. Does anyone know, is there an opposite ticker for vix ?
Gar [15:38]: "Build a better mouse trap and the world will knock on your door" is the biggest bunch of crap I have ever heard..lol.
madriver [15:38]: lol
Gar [15:38]: Oppisite ticker for VIX is VIX short (or VIX puts).
Andrew [15:38]: The whole world should like your forum too Gar. On 4/13 here I posted I thought the top would be near SPY 122.00. It was 122.12.
carr [15:38]: Gar, it has not been out there long enough to get to the whole world
123 [15:38]: Gar a bunch of people here today are interested in you book said what book???
Sandman [15:39]: I would be out side your door but you never gave me your address.
Gar [15:39]: Hey 123, one thing I have had success with (but did not put it in the book) is option trading the VIX. It can be hugely profitable if the timing is right.
moby [15:39]: sendout another email to your 50-0 subscribers
Dan-O [15:39]: ok thanks Gar. I don't short so I was hoping for something similar to FAS & FAZ, but with VIX
123 [15:40]: Keep writing books...I'll buy them.
picker304 [15:40]: Eveyonre please send trials to alternate board I have the book listed there. We've had over 100 trials go there need more
Gar [15:40]: I am not aware of one for VIX, unless someone else knows.
carr [15:40]: Time for book 2 Gar
madriver [15:40]: gar that is hilarious. anything is profitable if the timing is right
moby [15:40]: write a 19.95 book about that vix strategy I will buy it too
madriver [15:40]: I bought it too....I like it Gar
123 [15:41]: there is a ticker for vix but forgot what it is ...the ticker that trades the vix
madriver [15:41]: you need some promotion or something.....it's all in the sale
carr [15:41]: The book is way cheap for anyone who is really serious about trading.
Dan-O [15:41]: it is VIX, but I was wanting the inverted or "anit-VIX" LOL!
Andrew [15:41]: Could it be VXX?
Gar [15:42]: Well yeah madriver, that was not stated right. I meant the VIX is highly volatile so it is easy to make fast gains, as opposed to some sideways stock.
Andrew [15:42]: out 2/3rds FAZ -0.4%
carr [15:42]: madriver the promotion is less than $20 where can you get a book that can produce results for that price?
madriver [15:42]: andrew I believe u are right...vxx
123 [15:42]: My strategy is buy puts on long etf's that ran up high in 60 min charts
Andrew [15:43]: added back to FAZ 14.78
Dan-O [15:43]: nope vxx not it Andrew but thanks. I guess I could always short, but I don't like short trades - scares me to death that it will take off & I'll be screwed
madriver [15:43]: carr.......i meant a publisher that can push anything. I love the book not questioning that
Gar [15:43]: Look at them pound the market higher! Have they STILL not learned their lesson?
123 [15:43]: you either win from the pullback or get lucky and market crashes for bigger killing
madriver [15:44]: no
madriver [15:44]: they like getting pounded
Andrew [15:44]: added to FAZ 14.85
Dan-O [15:44]: well gotta go back to work - thanks all & good luck !!!
carr [15:45]: good night Dan-O
123 [15:45]: First part didnt print...my strategy is buy puts on long etf when they top out run up on 60 min chart....then rest of last post
madriver [15:45]: my prediction is I don't care what the market does....just go with it...up or down
Dan-O [15:46]: oh, before I go, GAR - I had fas a while back on paper trade but it did not change with the reverse split, was it supposed to ?
madriver [15:46]: 123...trade options only?
ortrade [15:46]: vol is picking up..
123 [15:47]: Switched to options since I read Gars book. It was a game changer for me. Making money now.
Gar [15:47]: Dan-O, no, I would need to do that manually. The papertrader is not sophisticated enough for that.
karenbcz [15:47]: Someone help me find a PUT option quick ... gotta be cheap.
Andrew [15:49]: out FAZ -0.2%
123 [15:49]: The time to buy a put is when market is up....not tanking. They are expensive right now....
Gar [15:49]: I can't believe there aren't more pre-weekend sellers! What is wrong with these people?
karenbcz [15:49]: Well, I did find a cheap one , but it's not moving QID may $18.oo call.
Gar [15:50]: 123 is right, buying puts right now will be a large premium.
Andrew [15:50]: long FAS 27.00
madriver [15:50]: get your calls ready in about 2 years
nester [15:50]: FAZ calls. etiher buy in the money $14's or just out, the $15's
madriver [15:50]: no 2 months
karenbcz [15:50]: However, yesterday it did move from 0.31 to 2.oo.
Gar [15:51]: I would wait on trading downside until they try to rally the market.
Iswing64 [15:51]: You still have faz calls nester?
Andrew [15:51]: doubled up on FAS 26.90
Gar [15:52]: If they don't drop the market way down into the bell, we can have major sell-off on Monday.
nester [15:52]: swing - yes. trying to be greedy like 123
madriver [15:52]: market will close -201. whover gets the closest wins gars book
Iswing64 [15:52]: lol.nester
123 [15:53]: lol
Andrew [15:53]: tripled up on FAS 26.95
karenbcz [15:53]: omg!! FBP still going down.
Iswing64 [15:53]: strong adx 60 min faz
karenbcz [15:53]: I hope we get a 2,000 pt rally next week.
Gar [15:53]: Only 7 minutes to go. I am astonished that they haven't trasked the market yet.
Gar [15:53]: trashed
123 [15:53]: we probably will only down -2000
Andrew [15:54]: The buyers seem to be refusing to step aside, so taking a chance with FAS that there are day trading shorts who want to cover before the weekend.
karenbcz [15:55]: 123- just think ... IF the market did go down -2000 2 mintues B4 the close, it would be too late to halt trading. LOL!
Gar [15:55]: I haven't checked, but I will bet you the Euro has rallied slightly, which would explain this market refusing to crash.
123 [15:56]: they canceled trades during that drop if you made 60% or more....didn't say if they canceled losses
Gar [15:56]: This is nonsense. I am looking for a lunar short....
moby [15:57]: who's there
Andrew [15:57]: They don't care about gains/losses - just whether the price was 60% beyond where it had been trading.
moby [15:57]: pardon wrong window
karenbcz [15:57]: Hey guys!! I got 0.04 cents out of a penny trade I did this a.m.!! (GNVC) woo hoo!
karenbcz [15:57]: I only wanted 0.02 cents.
Hank [15:58]: SEED 7.73/7.55 2.3% cover part 2 still holding part 1
Andrew [15:58]: Nice!
karenbcz [15:58]: Hank?? YOU did a SEED trade??
Gar [15:58]: Dow has spiked UP 80 points into the close. This is breathtakingly stupid.
Andrew [15:58]: out FAS +1%, wow can't believe that actually worked
Hank [15:59]: Andrew thanks,
Gar [15:59]: So karen...what were you saying? "It's Friday, no one will be buying."
ortrade [15:59]: Exit KG -65$pe
Andrew [15:59]: The bears still win today though by far
Hank [15:59]: karen seed does go down also.
nester [16:00]: have a good weekend all.
Andrew [16:00]: I wonder how bad the selling would have gotten if the jobs data hadn't been better than expected.
Andrew [16:00]: Have a good weekend.
Gar [16:00]: What gets me is that it takes an astronomical amount of money to move the market that much in the final minutes. Which means it is basically a suicide play.
123 [16:01]: seed was trading around $15.00 when people here were buying...its dow 50%
ortrade [16:01]: Total for the day +600$pe all posted entries and exit.. good trading day..
123 [16:01]: down
123 [16:01]: fat finger Gar lol
Iswing64 [16:02]: SEED has doubled since then 123.
Iswing64 [16:02]: lol
123 [16:02]: unemployment spiked up andrew....dont know how they can say jobs increased
madriver [16:03]: GAR.....are you a bull or bear
Gar [16:03]: Also most of the new jobs are the census.
Gar [16:03]: I am a major bear, have been for a while.
Gar [16:04]: OK...for everyone here who said "What book?"....here it is. www.garsworld.com/bookpromo.htm .
ortrade [16:04]: Market closed very close to the lows of the day.. If you look on the daily you can see that todays close is lower then yesterday.. though today overall was an intrabar to yesterday giant spike down..
Hank [16:08]: Have nice weekend all,
JayBird [16:10]: Ditto from Montana....gotta head home soon
madriver [16:10]: later all
madriver [16:10]: where in montana?
Avalon [16:11]: Just ordered ebook. Thanks, Gar.
JayBird [16:12]: NE of Havre....80 miles
JayBird [16:35]: Yes, the crash of 2010. In what has turned out to be the largest intraday drop on the heels of increased European Nation problems, poor retail sales data, and an overvalued market resulted in a tsunami of selling.
Irrespective of the “computer glitch”(actually not a glitch at all, just an overwhelmed system under extreme selling pressure), a possible fat finger trade, and the impact of high frequency trading in a severe selling event …. the market has signaled danger ahead.
Andrew [18:07]: Today did wind up being my best day paper trading ever... +74% gain overall on my regular position size.
karenbcz [18:23]: ALL Central Banks are only good at One Thing and that is PRINTING MONEY ! - The ECB IS PRINTING MONEY for Greece, and soon will PRINT hundreds of billions of more Euros as the other PIIGS line up one by one each with their own Euro's begging bowls.
karenbcz [18:24]: http://www.walayatstreet.com/
flower2bi [18:39]: hey karenbcz i bought ZLUS at open @.0032 and sold @.006 it was a pump and dump got hit n the head on my JTC position not bad for 800.00day needed that one weeeeee
karenbcz [18:40]: Wow!!! That's AWESOME!! How'd you find that one!! $$$$$$$$$$$$$
karenbcz [18:40]: :>)
flower2bi [18:40]: friend that watches for the pumps
karenbcz [18:41]: geesh! good one! Find more!! LOL!
flower2bi [18:41]: when i do i will let u know
karenbcz [18:42]: Thank$$$!
flower2bi [18:42]: you know i dont buy penny stocks and hold get in and out real quick
karenbcz [18:44]: I've been researching pennies for the last 2 weeks ... they're awesome ... i.e, PCBC
flower2bi [18:45]: i love em little capital big returns
flower2bi [18:45]: very very risky lost some and won some
karenbcz [18:46]: trying to find some now.
karenbcz [18:47]: HTDS
karenbcz [18:47]: nawwww .. that's too cheap ... you get 'em too cheap, you're just trading garbage.
karenbcz [18:48]: Look at BEDA, PSRU and ARTS
karenbcz [18:50]: WHoaaaaaaaaaaaaa!! look at TLAN
karenbcz [18:54]: LEHMQ
flower2bi [19:07]: i got one in mind but there is a lot of selling give a few minutes
fuseboxxx [19:10]: afraid to get in TLAN..they might dump as I get in
flower2bi [19:10]: okay karen look at POSC
flower2bi [19:12]: i like TLAN but i think the dump is going to start monday am
fuseboxxx [19:12]: yup
fuseboxxx [19:12]: are you there Karen
fuseboxxx [19:12]: she is the queen of the bounce
flower2bi [19:13]: shes that goood
fuseboxxx [19:13]: pretty darn good
flower2bi [19:13]: great
flower2bi [19:14]: lehmq
fuseboxxx [19:17]: I dont see much action with that one
flower2bi [19:17]: i like POSC
flower2bi [19:18]: well if the bleeding will stop
fuseboxxx [19:21]: its a neet technology but I only see a .05 increase over the next 3 weeks..could be wrong though
flower2bi [19:22]: u think the bleeding is done on posc
fuseboxxx [19:22]: looks pretty calm
flower2bi [19:23]: hope so thinking about jumping in for a few
fuseboxxx [19:24]: but you have to look...bottom was only 5 cents not too long ago..they need something good to happen to propel them......wait another week to see if more sellers are out there..gotta make sure the stock is strong
fuseboxxx [19:26]: I bought AEZS at 1.26 3 weeks ago..it went down to 1.05..I had patience and now look at them..I sold yesterday at 1.46..its 1.70 after hours now
flower2bi [19:26]: okay will do not a pro but iam pretty good 4 a rookie
fuseboxxx [19:27]: we are all still learning..ever since I got into stockvision I have learned so much..I dont have alot of money so little gains are adding up
flower2bi [19:27]: well i bought jtx but look at it now in @1.81
fuseboxxx [19:28]: only 2 cents down from when you bought it..not bad
fuseboxxx [19:30]: tax time is over...I would cut your losses..Next year look at it again
flower2bi [19:30]: i use 2 b on boards about penny stocks and lost so much $$ learned the hard way about pumps people telling u things that are not true what i do now is just jump on the band wagon and jump off at the 1st stop
flower2bi [19:32]: jtx is still talking about bnkrpty iam looking for a bounce play within 2wks on them
fuseboxxx [19:32]: with really cheap stocks you have to be in at the start of the pump..usually they last for 2 to 3 days max...alot of times I get emails at the end..but the first 3 minutes of the market you can make small gains
flower2bi [19:34]: put buy order n and sell order basically at the same time
fuseboxxx [19:34]: gotta be quick
flower2bi [19:34]: u ever use gaps down
fuseboxxx [19:34]: you cant get nervouse either..lost thousands that way
fuseboxxx [19:35]: gap downs are ok
fuseboxxx [19:35]: pick near session lows on stock vision
flower2bi [19:36]: well i dumped bbi yesterday glad i did looking 2 get back n about 2wks or more
fuseboxxx [19:37]: company going under I think
fuseboxxx [19:38]: stocks over a dollar are more predictable
fuseboxxx [19:38]: this market is srewy right now anyways
fuseboxxx [19:38]: screwy
flower2bi [19:39]: well i got n trying to make some $$ off the hollywood video shutdown
fuseboxxx [19:39]: oh
flower2bi [19:40]: be back going 2 make a sandwich 15 minutes
fuseboxxx [19:41]: well good luck..see ya..watch for Aezs to go down before the earnings date on may 13..get in there..I feel earnings will be good..also got a couple winner drugs possible fda approval
fuseboxxx [19:41]: bye
KingArtham [6:11]: Hey Hilesic! U still awake?
KingArtham [6:11]: Anybody there?
karenbcz [9:37]: You all should be preparing for a CRASH. The party's OVER! The fat lady is singing. No more bailouts! YOU WERE WARNED!
karenbcz [9:45]: Read GAR's blog.
karenbcz [9:47]: You guys, don't forget MOTHER'S DAY!!
karenbcz [11:28]: SHORT CHINA!
flower2bi [11:49]: hi karen
flower2bi [11:56]: andrew whats going on
Andrew [11:56]: Hi flower. How are you doing?
flower2bi [11:56]: just looking at the gaps down
flower2bi [11:57]: dont see nothing good at least under 2.00
Andrew [11:59]: I think the next few days could be tough. There are lots of people out there wanting to sell but on Friday there were also signs of buying interest at these lower levels in the market.
flower2bi [12:01]: trying to find something to flip real quick n need of some$$
flower2bi [12:01]: BILLS and more BILLS
Andrew [12:03]: I suspect that the easier money in the short term will be shorting weak stocks on bounces rather than buying them on the way down.
Andrew [12:04]: Some cheaper stocks are still holding up pretty well though, like AEZS.
Andrew [12:06]: AIG could also still have some nice upside over the medium term.
flower2bi [12:08]: was going to wait on aezs till the 13th or 12th
Andrew [12:09]: They announce earnings on 5/13 so you'd probably want to be out before then or wait until after they announce.
Iswing64 [12:11]: Put Option Watchers...OMX..june 15.00 puts..0.09..AKAM...june 32.00 puts..1.00...ANN june 20.00 puts..1.15. From macd curve down.
Iswing64 [12:11]: Hey andrew..great job testerday..way to go,
flower2bi [12:12]: be back n 15 mnts need some coffee
Andrew [12:12]: Thanks. That was the first time in a very long time I focused exclusively on the overall market.
Andrew [12:15]: Overall though I didn't like that price action in the market from about 11:15am until the close. It was a choppy volatile mess... the conditions that normally lead to my worst days.
Iswing64 [12:16]: Yes but you traded right through it...not easy to do
Andrew [12:18]: It got to the point where right near where you would normally want to put your stop loss order, that was a great pullback to add size at. And right when you start feeling great about the trade and how right you were, that is where you should start taking more profits.
Iswing64 [12:20]: LOL...i know,i saw,i felt...very tricky
Iswing64 [12:21]: well done.
Andrew [12:22]: I hope Monday will be less sideways and a more consistent trend.
Andrew [12:24]: If I had just been following more traditional entry signals on Friday I probably would have gotten stopped out 80% of my trades.
Iswing64 [12:26]: Yes i know you would...I only had one trade on faz..was trying to paper the rest with normal entry signals....NOT WORKING...lol
Andrew [12:27]: Some individual stocks like AIG made some cleaner moves.
Iswing64 [12:28]: None of my indicators knew what to think.
Iswing64 [12:28]: looking
Andrew [12:30]: I did use moving averages on Friday a lot, though more as very loose areas rather than exact levels.
Iswing64 [12:31]: Your right..would have been a great trade..so caught up in day..didn't hardly look at stocks
Andrew [12:32]: I had a good entry price on it but scalped out too fast when it had trouble getting back above 36.00.
Andrew [12:35]: Overbought and oversold indicators seemed to work pretty well if you only focused on one side. Like if something was very weak, a good place to look for an entry short is if it ever got overbought. If something was relatively strong, a good placee to look for an entry long was oversold.
Iswing64 [12:36]: lol.looks like it came right back...with good volume and price action...nice looking 30 min AIG.
Iswing64 [12:37]: The best i could do was stochastics..ma's psar..1 to 5 min...worked ok but was so sloppy
Andrew [12:37]: 40.00 has been a very tough level for AIG, but it might re-test it early next week. It has also recently had trouble above 41.00.
karenbcz [12:38]: I hope the market goes to DOW 12K so I can get the h&LL OUT before the BIG IMPLOSION!
Iswing64 [12:39]: Have to check options on that andrew
Andrew [12:39]: What stocks are you still in?
Iswing64 [12:39]: Hey karen
Andrew [12:40]: Maybe this week was the big implosion and we'll head back up by the end of the month.
karenbcz [12:40]: PENNY crap FBP, GNVC, YRCW and PEIX. All good for a bounce IF the market goes up.
Iswing64 [12:41]: Yikes!!
Andrew [12:41]: Falling about 13% from Monday to Thursday in the plunge seemed like an implosion to me.
karenbcz [12:41]: Andrew: No, the implosion is coming .... it will be a COLLAPSE. Like I posted numerous, but everyone was ignoring me ... this was not a "correction" ... it's the beginning of another CRASH.
karenbcz [12:41]: Mark my words.
karenbcz [12:42]: I have to take the grandkids shopping for mommy's day soon.
Iswing64 [12:42]: You still have seed...karen?
Andrew [12:42]: That's what I was expecting in May 2009 and then again in Sept.-Oct. 2009 but it never happened. You could be right.
karenbcz [12:42]: Just letting you know .. the party's over. TARP is over. Obama said "no more bailouts"!
karenbcz [12:42]: I never had seed.
Iswing64 [12:42]: Oh good
karenbcz [12:43]: The REASON I was trading pennies these last few weeks, was to LIMIT my market exposure.
karenbcz [12:43]: If I lose on those POS I listed ... so be it. My BIG POSITION WILL BE SHORT. BIGTIME!
Andrew [12:43]: There are still a ton of places the market can bounce though so I'm not selling my long-term investments.
Andrew [12:44]: I am in full short sale mode though in terms of active trading.
flower2bi [12:44]: hi karen
Iswing64 [12:45]: Study some option ideas...can be a better way to reduce exposure...
karenbcz [12:45]: All these hedge funds are using the same logrithms. High Frequency Trading software with mathematical calculations that'll make your head spin. THAT'S what Thurs. and Fri. were about. The COMPUTERS are trading the markets. And you can't beat the computers!
Iswing64 [12:45]: andrew can lol
karenbcz [12:45]: That's why Proshares Reverse Split their short funds 3 weeks ago. They KNOW what's coming.
karenbcz [12:46]: FAS was split ... for good reason. When this market implodes, it will be worth $1.oo.
Iswing64 [12:46]: Hey pick..
Iswing64 [12:46]: Calm her down
Andrew [12:47]: The computers have made micro-scalping not worth it to try. They also mess with tight stop orders like crazy. But when you can identify what types of institutional algorithms might be working a stock that day you can position yourself well for later in the day.
Andrew [12:48]: At least before this week you could. The algorithms are probably all being changed this weekend to account for the different market conditions now.
karenbcz [12:51]: Don't forget Mother's Day ... gotta go :>)
Andrew [12:51]: With the computers messing with the prices so much though, one strategy that might be good is to just start putting crazy high offers to get short or crazy low bids to buy out there just in case some crazy movement happens and you get filled.
Gar [14:47]: Latest market outlook on our site --- explains the real cause of Thursday's 1000 point drop. http://www.garsworld.com/marketblog.htm
Iswing64 [17:33]: dlima
$EURUSD http://www.zerohedge.com/sites/default/files/Market%20Crash.mp3
Iswing64 [17:39]: S&P pit traders.."The selling was real.What'smore it was not done by computoer but on paper" You can here the s&p pit traders there.....Not my story just someting i found shocking!!
rw [17:51]: page will not load mr. Swing
Iswing64 [17:52]: Wierd rw loaded fine for me?
Gar [4:23]: Don't forget the new book, "Low-stakes Power Trading," which is especially good for those who trade penny stocks and/or new traders. www.garsworld.com/bookpromo.htm
picker304 [10:17]: Hello everyone. After weeks of testing I have finally found a gap play method that is a sure 80% winner at 1-2% consistent gains and wanted to share with all my SV family. You can learn how here http://www.stockvision.proboards.com/index.cgi?board=gap
picker304 [10:19]: I have paper traded this and in 2 weeks have made a total return of 42%
picker304 [10:28]: Happy Mothers Day!
picker304 [11:13]: Welcome new and trial users
We hope you are enjoying your visit. Here in the chat room traders post their trades and knowledge. During trading hours things move much quicker and if traders don’t respond to your concerns please don’t assume they are ignoring you but may be busy with trades and other responsibilities. To better serve you an alternate board has been created that will jump start your success. Please go to http://www.stockvision.proboards.com/index.cgi?board=trialusersintroduceyourself
Iswing64 [11:32]: Morning pick..hey what time frames work best on that...thanks buddy.
picker304 [11:36]: Hey buddy 9:30-9:45 and 10- 10:30
Iswing64 [11:37]: charts...1&5 min...?
picker304 [11:38]: I use 1 min for gaps
picker304 [11:38]: Hey private chat please
picker304 [11:38]: I don't see you LOL
Andrew [13:14]: Thanks for sharing that method picker
Andrew [13:14]: Those are fantastic results.
picker304 [13:40]: Thx Andrew that means alot coming from you. I owe alot to Iswing64 for this play
Iswing64 [15:31]: http://www.youtube.com/watch?v=bNmcf4Y3lGM
Iswing64 [15:32]: Hitler...real estate downfall..funny
jim [15:42]: ok guy's I give up what is Aroon?
Andrew [15:43]: It's similar to ADX in terms of mapping the strength of a trend.
jim [15:44]: Thxs Andrew I show ADX on my system will it work the same?
Andrew [15:44]: It's a totally different calculation, just an alternative to ADX to show a similar type of thing with lines.
Andrew [15:45]: I've never used it before.
Andrew [15:45]: I'm kind of anti-indicator.
jim [15:45]: Do you think we need aroon to make the gap play work?
Andrew [15:49]: I don't think its necessary. I think the point is to see when something gets extremely oversold and then wait for a bar reversal and the start of a trend change.
jim [15:50]: thx Andrew
Andrew [15:51]: Toreygjn's gap down method was pretty similar...
Andrew [15:52]: Look at a 1 min. chart and wait until the first complete green 1-minute bar, and then enter at the startof the next bar (perhaps waiting for it to take out the high of the first green 1-minute bar).
jim [15:53]: I like your simple approach
Andrew [15:54]: Indicators are all just different ways of representing price and volume, so there are many ways to tell the same story.
Andrew [15:54]: It's all about finding the indicator or way that makes the most sense to you personally.
Andrew [15:56]: Picker's way has the advantage of having been tested for a couple of weeks though.
jim [15:56]: looking at a couple of my favorites looks like this simple approach would have worked on Friday morning
jim [15:56]: maybe the first hour on Friday
Andrew [15:57]: Most methods like that tend to hold up pretty well across different market conditions but still need to be tweaked from time to time.
jim [15:58]: Developed by Tushar Chande in 1995, Aroon is an indicator system that can be used to determine whether a stock is trending or not and how strong the trend is. "Aroon" means "Dawn's Early Light" in Sanskrit and Chande chose that name for this indicator since it is designed to reveal the beginning of a new trend.
Andrew [15:59]: My gap down strategy recently has become... (1) choose the place I normally would want to enter because it looks like it could be bouncing, (2) figure out where to set my stop loss for that entry, (3) do not actually enter there but instead enter just below where my stop loss would have been.
Andrew [16:00]: So often there seems to be that one last move down to scare out the early buyers.
jim [16:00]: are you generally using 1% stop losses?
Andrew [16:00]: Yes
Andrew [16:00]: Another way to do it is to buy 1/2 position initially and then add the 2nd half near where your original stop loss would have been.
jim [16:01]: makes sense
Andrew [16:03]: I like 1% stops as a target because then if I mess up and hold a losing trade too long then I'll start feeling guilty past 1% and will be out by close to -1.5% usually worst case scenario, which still isn't too bad.
Andrew [16:05]: If I get extremely stubborn on a trade, then maybe it could be as high as -3%, but even a -3% trade every once in a while isn't the end of the world.
jim [16:05]: do you self stop with limit orders or do use market order stop losses?n
Andrew [16:06]: I've only done market orders for that before. I'm considering maybe trying stop limit orders to enter some trades sometime.
jim [16:07]: I tend to set a self limiting stop at which I will sell using a limit order preventing the market order from furthur losses but occassional have to give in and market order sell
Andrew [16:09]: With the high frequency trading algos out there I'm finding it difficult to get filled on limit orders that buy at the bid or sell at the ask. Whenever I get undercut it seems I had the right idea but don't get filled. When I do get filled, it usually means I was wrong to do that trade then.
Andrew [16:12]: Sometimes just for fun I put a bid in for a second and then cancel it to see how the algos will react.
jim [16:14]: yes I do same thing they do react
Andrew [16:15]: It occasionally seems like the algos follow and it drives down the price to a better level to enter.
Andrew [16:16]: Maybe it's just a coincidence though.
picker304 [16:23]: Hello guys no gotta have aroon to work believe me I've backtested and adx alone won't predict it like aroon
picker304 [16:24]: I tested 500 stocks with it and 423 were winners going back 10 days
Andrew [16:25]: Thx for the info. Do you have some good examples from this week?
Andrew [16:26]: What period do you use for aroon?
picker304 [16:26]: Yes 84% of gap downs won from Friday alone
picker304 [16:27]: 1 minute chart
Andrew [16:27]: Yes, I mean what period for calculating the aroon on the 1 minute chart.
jim [16:28]: Pick my Schwab system doesn't have Aroon available any ideas how to get it free?
picker304 [16:29]: If you guys will set up chart the way I explained and then backtest you'll see the results. It is uncanny for consistency. i also tested in up and down days back 10 days. Doesn't matter since gaps fade a little over 80% of time
picker304 [16:29]: Hey jim let me reseach that.
picker304 [16:29]: Give me a few
jim [16:29]: thanks I want to try the method but need aroon
Andrew [16:29]: 1-minute is the frequency but you need to choose a specific period number for the aroon.
jim [16:30]: I have swingtracker but it doesn't have aroon either
Andrew [16:31]: I think the aroon is normally pretty similar to other indicators that show overbought/oversold like stochastics.
Andrew [16:33]: When red aroon is near 100 then the stochastics should look very oversold, when green aroon is near 100 then the stochastics should look very overbought, etc.
picker304 [16:34]: Andrew all I know is what I have tried. You don't need any other indicators or periods. You really need to check it out yourself by opening up a chart, any chart and look at the history when a- is 100 green vol bar enters etc. like i explained on the board. It tells you exit and entry 80% what more could you want and most are at least 1% gains but many 2 and 3.
picker304 [16:35]: I have been studying this for weeks and only posted when i knew it was for real. Thanks to swings info too
picker304 [16:35]: Jim I'm still looking
jim [16:36]: I am also looking
Andrew [16:36]: Which charting program do you use picker?
picker304 [16:37]: Jim don't know this may help http://stockcharts.com/h-sc/ui?s=f
picker304 [16:37]: Strategy desk TD AMERITRADE
Andrew [16:38]: Ok thx, I'll take a look at that to see what period it uses as default.
picker304 [16:38]: Hey swing where can jim find a chart software with aroon?
Iswing64 [16:38]: Hi all...Jim i have swingtracker also...mine has aroon..under indicators tab
jim [16:38]: Pick thanks I will continue looking
jim [16:38]: swing I will check right now thank you
Iswing64 [16:39]: Hi andrw i think it's the standard settings on aroon
jim [16:40]: Swing I got it thank you now I just need to learn how to use it
picker304 [16:40]: Sorry andrew yes no edit on aroon din't understand the ?
Iswing64 [16:41]: pick can help with that jim...barbeque going...back later
jim [16:42]: thxs swing you saved my bacon
Andrew [16:43]: I think they use 14 as the period for aroon.
picker304 [16:43]: Hey jim the link i gave is good if its real time tommorrow
picker304 [16:43]: Andrew yes I think so
picker304 [16:44]: You have to add volume bars above it
Andrew [16:44]: What do you use as your stop loss?
jim [16:45]: Pick I got in on swingtracker with Swing's help , I am back testing now
picker304 [16:45]: Ok do you know what you're looking for?
picker304 [16:46]: Andrew my plan is 1%
picker304 [16:46]: Since the aroon tells us when to exit we will always gain to most and if it swings on us by adx better get out quick cause it will drop like a lead baloon
picker304 [16:48]: Jim swing likes OBV as well a great idea
Andrew [16:49]: For something like SQNM at Friday's open would you get stopped out?
picker304 [16:49]: Let me check Andrew
jim [16:49]: OBV means On Balance Vol correct?
picker304 [16:51]: Andrew No in at 3.02 out at 3.20?
picker304 [16:51]: yes jim sorry
picker304 [16:52]: Andrew in on first G bar on falling -aroon and exit on first red of +aroon
picker304 [16:53]: APPROXIMATE 5% GAIN oops sorry about caps
Andrew [16:54]: I think I'm not looking at the right stocks.
picker304 [16:54]: SQNM right 1 min chart
Andrew [16:55]: yes
picker304 [16:55]: Entry app 9.40 exit 9:42
jim [16:56]: On swingtracker the system would have worked well on friday on SQNM
Andrew [16:57]: Oh ok, I was thinking the aroon was coming down from 100 with a green volume bar at 9:31am.
picker304 [16:58]: Hey jim since you got the hang of it check lots of charts man its just awesome i made sure before i posted this
picker304 [16:58]: You see it Andrew?
Andrew [16:58]: Yes I see it now.
jim [16:58]: yes Pick I have checked two that would have worked well
picker304 [16:58]: Guys you gotta get in on very first minute green on falling - or red aroon
picker304 [16:59]: You gotta exit the moment you see a red volume bar when +aroon moves to top. If you will backtest this you will be amazed.
jim [17:00]: I'll check with swing but on swingtracker the aroon colors are different they are blue and red?
Andrew [17:00]: And you wait for the full minute to elapse before counting the red/green bar?
picker304 [17:01]: VERY GOOD POINT ANDREW YES!
picker304 [17:01]: Sorry jim mine is red and green i'm sure the red would be minus wouldn't you think
picker304 [17:01]: Andrew because it must be finalized eg out asap once next min occurs
jim [17:02]: yes I think so I'll assume blue is same as green for now
picker304 [17:02]: do you guys see how it reads the trend for us. I wanted to figure out a way to know how long we can stay in a gap before it tumbles I think this is the answer
Andrew [17:03]: I like your exit strategy.
picker304 [17:03]: Andrew I wonder if it works for short plays haven't tested it for that
jim [17:03]: take a look at hero the first 10 minutes on friday does this system work?
Andrew [17:04]: Another possibility is to only sell half your position instead of 100% at the exit signal and try and let the other half run with a looser stop loss still above your entry price.
picker304 [17:04]: The 20% will kill you though. If you choose those get out. The way I see it is if I use a tight stop I have two choices lose 1% or gain 1-3
Andrew [17:05]: That way you could catch something like HIG from Wednesday.
picker304 [17:05]: Yes Andrew I agree because if you'll analyze further like I have 80% turn up again at 10-10:30
picker304 [17:06]: Lets look at HIG from WED
picker304 [17:06]: Oh man would that been killer?
jim [17:06]: looking
picker304 [17:07]: Or could of just took the 2% and not gamble
Andrew [17:07]: It doesn't have to be 50%, you can sell 75% or more, but letting some shares of winning trades continue to run with at I would expect would more than make up for the ones that retrace.
picker304 [17:08]: But I like your gamblin ways Andrew LOL
picker304 [17:08]: Yes in that stock you would of made a mint with a little averaging no?
jim [17:08]: wow HIG was good
picker304 [17:09]: Well how you guys like it? Man I have spent hours on this!
Andrew [17:09]: Good job picker.
jim [17:09]: looks like the red aroon at 100 is the first key indicator
picker304 [17:09]: Absolutely its the safety valve no?
Andrew [17:10]: Another possibiliy is to exit at the exit signal and then just re-enter if that first red bar doesn't lead to anything bad.
picker304 [17:10]: What I love about it is how many times have we played gaps and just jumped in now we know where to jump in and out for biggest profit
jim [17:10]: Pick I am going to give it a go in a small way until I get used to it
picker304 [17:11]: Yes Andrew 10-10:30 plays good to do you see it?
jim [17:11]: a little more detail on methodology Pick do you have the gap parameters set in a certian way?
Andrew [17:11]: I doubt that time of day has anything too significant about it over a longer stretch of time.
Iswing64 [17:11]: Back for a min...hey jim check out the trend catcher feature under indicators tab...a tad slow at times but still cool.
picker304 [17:11]: Jim just remember through my testing use the -d as a signal STAY AWAY from stocks with -d curving up
Andrew [17:11]: You could probably use a variation of this strategy in general throughout most of the day on volatile stocks.
picker304 [17:12]: Thats what I am wonderin too Andrew
jim [17:13]: Pick are you picking gaps from the SV gap down?
Andrew [17:14]: 10:30am recently has just been a time of a trend change
picker304 [17:14]: Yes jim and they work for gap ups too at 10:00 - 10:30
picker304 [17:14]: Most stocks turn at 10 and 1
Andrew [17:15]: That could be because on many days there is economic data released at either 10:00am or 10:30am.
picker304 [17:15]: Check it out and you'll see what I mean
jim [17:16]: Pick do you gap down peratimets setup in sv
jim [17:16]: parameters
Andrew [17:16]: I think the strategy could be pretty viable from 9:30am to 11:30am and then from 2:00pm to 4:00pm in the right stocks.
picker304 [17:17]: Jim no but I try to stay with stocks with +volume although they all seem to work
Andrew [17:17]: Never mind that though, it would require some tweaking. It's probably a lot more reliable as a gap play.
jim [17:18]: do gap downs only show in the premarket? in SV
picker304 [17:19]: No they remain but gap% doesn't show after open
jim [17:19]: ok
picker304 [17:20]: Jim I actually took every gap down and up in SV and backtested 80+% winners
jim [17:21]: do you tend to go for larger gap down with + vol?
picker304 [17:21]: I did this for at least 2 weeks
picker304 [17:22]: Yes but only reason is a better chance to move a little for value reasons? but they all work
Andrew [17:22]: The +vol. probably doesn't matter quite as much since it's a contrarian trade?
Andrew [17:22]: Some of my favorite shorts are those that gap up a ton on light volume for example.
picker304 [17:23]: Yes I can see that
Andrew [17:24]: I think the aroon entry would have worked pretty well shorting the AIG gap up on Friday.
jim [17:25]: I guess one needs to be wide awake at 9:30 but I can see from premarket data we may get indicators of possible gap downs
picker304 [17:25]: Yes Andrew especially at 10ish
jim [17:26]: aig
Andrew [17:26]: I was thinking 9:46ish.
picker304 [17:26]: Yes jim this is a 9:30play but it does work at 10ish too but not with same % results
Andrew [17:27]: at 9:46ish AIG comes off hard from a lower high with the green aroon falling from 100...
Andrew [17:27]: I'd be all over that short with a stop above 38.17.
picker304 [17:27]: Look at aroon at 10:38 on AIG
picker304 [17:28]: Andrew are you talkin short or long?
Andrew [17:29]: I'm talking about entries to short the AIG gap up.
picker304 [17:29]: Oh sorry right
jim [17:29]: 10:38 I show green aroon at 100 is that correct
jim [17:30]: aig
picker304 [17:30]: No jim red aroon at 10:38
picker304 [17:30]: see it?
Andrew [17:31]: From the 9:46 entry short using a looser exit strategy AIG went down over 7%.
picker304 [17:31]: cool
jim [17:31]: ok thats what I was afraid of my blue must be your red
Andrew [17:31]: My point is you can use combine something like aroon with other factors to set up longer-term trades too.
picker304 [17:31]: Jim red aroon falling at 10:38 with g vol bar showing
Andrew [17:32]: It's one more argument that you might have a good entry.
jim [17:32]: yep my blue is your red falling at 10.38 with green vol bar
Iswing64 [17:32]: Aroon UP...60 min AIG could be a long play monday
picker304 [17:33]: exit 35.50ish exit when green aroon goes to top with red vol bar exit 36.20ish 2% gain
jim [17:33]: switch to about 11:05 which aroon is at 100h
picker304 [17:34]: jim green
jim [17:34]: 10 4 thank you
Iswing64 [17:34]: what time frame you guys
picker304 [17:34]: sorry meant entry 35.50ish
Iswing64 [17:35]: 1min?
jim [17:35]: yes one minute
picker304 [17:35]: yes
picker304 [17:35]: I live in 1 min zone on gap plays
jim [17:35]: swing I need help my colors are reversed I think
Andrew [17:36]: It would probably work pretty well on a 3-minute or 5-minute chart too.
Iswing64 [17:36]: red/blue yes?
jim [17:37]: red/blue yes
picker304 [17:38]: Hey guys gotta go do mother day stuff. Be back tonight. Test and leave me your comments. Me and swing are proud of this (if it works) If it don't blame swing. If it works then I didn't really needs swings help LOL just kidding cuz see yall tonight
Andrew [17:38]: lol
jim [17:38]: see ya thanks again
Andrew [17:39]: Thanks picker, have a good one.
Iswing64 [17:39]: ok what time the 1min chart was in question
jim [17:39]: swing is my red the same as picks red?
Iswing64 [17:40]: yes i think so...go to 60 min aig
jim [17:40]: ok done
Iswing64 [17:41]: red line just curving off a bit from 100
Iswing64 [17:41]: blue at about 68 or so
jim [17:41]: yes last on friday just curving off a bit
Iswing64 [17:42]: yep you got it
jim [17:42]: yes blue at about 68 or so yes
Iswing64 [17:42]: interesting to see if a long play developes
Andrew [17:42]: I wonder if lowering the period used on the aroon could lead to more accurate results near the open - like cutting it in half to 7 instead of 14.
Iswing64 [17:43]: thats pretty much a trend change up signal
Iswing64 [17:43]: It may andrew
Andrew [17:44]: What were some big gap down stocks on Friday?
jim [17:44]: swing when Pick put out his instructions he uses green and red are the reds the sames therefore our blue is his green?
Iswing64 [17:44]: have that on bb bands too...middle is curving up
Iswing64 [17:45]: I'm sure it is jim ...but to be sure ask him in the morning
jim [17:46]: will do thanks got to go to family stuff thanks guy's for all the help as always
Iswing64 [17:46]: did you check out trend catcher feature on your swingtracker yet?
Andrew [17:46]: I think the main key is the bar reversal.
jim [17:47]: Swing cant find it treendcatcher?
Iswing64 [17:48]: Oh its under overlays tab...check it out in all time frames...fun
Iswing64 [17:49]: lines up well with aroon at times jim
jim [17:50]: got it will check it tomorrow see ya
Iswing64 [17:50]: ok guys bye
Iswing64 [18:17]: http://www.youtube.com/watch?v=eVB-SSkkLnY
Iswing64 [18:38]: A fair example of aroon in action...CWTR...TUES..60 min or daily (swing trades
Iswing64 [18:41]: And EK...falling like rain on my charts last week.
Iswing64 [18:42]: Before the crash????
picker304 [20:19]: You're right Andrew the bar reversal is key
picker304 [20:19]: test
rjordan [20:19]: good evening all,
rjordan [20:20]: it appears the market is setting up nicely for a big sell off this week
picker304 [20:21]: very possible rjordan
rjordan [20:22]: there was aton og buying volume in several stocks but no price movement
rjordan [20:24]: im going to try to get some puts on apple about 10 mins after the open is seting up for a major drop possibly to the 170s
picker304 [20:25]: hey rjordan check out my post at 10:17
picker304 [20:45]: Hello everyone. After weeks of testing I have finally found a gap play method that is a sure 80% winner at 1-2% consistent gains and wanted to share with all my SV family. You can learn how here http://www.stockvision.proboards.com/index.cgi?board=gap
rjordan [20:49]: will do
rjordan [20:51]: pick i only see karen at 10 17
picker304 [20:52]: Sorry rjordan I posted again for you at 20:45
rjordan [20:53]: will give it a look see
picker304 [20:54]: ok
rw [20:55]: what is the arronn indicator please
rjordan [20:56]: just read it pick very good idea,i have never used the arroon but it seems to be similar to stochastics
picker304 [20:58]: rw go to 15:58
picker304 [20:59]: yes rjordan but this is a great setup
Andrew [21:00]: It looks like we could have a monster gap up tomorrow morning.
Andrew [21:01]: That could perhaps induce some short covering and then large institutions can sell lots more shares into that.
picker304 [21:02]: Guys gotta go be back later tonight hope someones here to chat with. If you guys have questions I'll try to answer then
Iswing64 [21:02]: Yep...run to the fire andrew...lol
Iswing64 [21:02]: see ya pick n all
rjordan [21:03]: pick i do agree, i agree andrew, as with apple, 59 mill trade on avg vol of 20 mill but no noticeable incfease in price, this tells me there is a ton of selling into any buying effort
Andrew [21:05]: Yeah, the late buyers weren't able to push AAPL back above its 50-day moving average either on Friday. It closed a couple of points below.
rjordan [21:07]: yes so i have decided to buy some puts on it tomm as this stock may be in the 150s by friday
Andrew [21:08]: Oh wow, I would be afraid to do that with AAPL due to the loyalists, lol.
Iswing64 [21:08]: On cbnc website some one predicting AAPL to drop 50%
Andrew [21:08]: I'd be extremely surprised.
Iswing64 [21:08]: see if i can find it
rjordan [21:09]: they may be but the loyalists are prey to the bigs right now
Andrew [21:09]: I think it's just some guy whose normally bearish about AAPL and is almost always wrong.
Andrew [21:09]: who's
Iswing64 [21:09]: lol could be
rjordan [21:09]: 50% is a bit far but the 150s is possible
rw [21:11]: i can not find an indicator that is like aaron. any suggestions
Andrew [21:11]: I'll be very surprised if it gets below 190 but who knows. It was at 90 just a little over a year ago.
Andrew [21:12]: Take a look at stochastics rw.
rjordan [21:12]: 190 is definitely reachable
Andrew [21:12]: I bought it at 90.00 too but sold it by mistake, lol.
rjordan [21:13]: well there was no way of knowing it would hit the hjgh 200s
Andrew [21:13]: I sold it because I thought they had announced earnings and there was no positive movement. But it turned out they were announcing the next day. Very stupid mistake on my part.
Iswing64 [21:14]: Can't find it..damn
Iswing64 [21:15]: Wow andrew...futures are up big...could be fun.monday
Andrew [21:15]: http://www.cnbc.com/id/37022686
Andrew [21:17]: Yeah, there is a potential for a sizeable short squeeze. At the end of the day if we finish up, I wonder if the volume will come in pretty low.
rjordan [21:17]: oftentimes andrew a sellff occurs after earnings so it you made money on the trade you won
Iswing64 [21:18]: I would think so andrew...
rw [21:18]: thanks ANDREW ----Andrew ---you mentioned toreyghin strategy ---now I can not find it above -----screen will not stay situatted ==jumps around
Iswing64 [21:19]: See you guys tomorrow....
Andrew [21:20]: Bye
Slotrade [22:35]: picker 304.The combinations and method you discribe for your set up are a lethal weapon.Thank you for sharing.
picker304 [23:03]: Thx Slotrade Its for all SV family. Lets make some money
picker304 [23:22]: Hello everyone or anyone lol
quickinvestment [23:22]: hello
quickinvestment [23:22]: new here
quickinvestment [23:23]: its big board only ?
picker304 [23:23]: quickinvestment Don't understand ?
quickinvestment [23:25]: no penny stock here?
picker304 [23:28]: Depend on what you define as penny Go to stocks and select Big Cheapy Action
quickinvestment [23:29]: thank you picker
quickinvestment [23:30]: i really like this forum
quickinvestment [23:30]: i just need to learn how to use everything
quickinvestment [23:30]: i hope some people will help me
quickinvestment [23:30]: i am going to order the full version
picker304 [23:31]: Yes hang around for awhile nothin like it hear and let me help Go here. Welcome new and trial users
We hope you are enjoying your visit. Here in the chat room traders post their trades and knowledge. During trading hours things move much quicker and if traders don’t respond to your concerns please don’t assume they are ignoring you but may be busy with trades and other responsibilities. To better serve you an alternate board has been created that will jump start your success. Please go to http://www.stockvision.proboards.com/index.cgi?board=trialusersintroduceyourself
picker304 [23:31]: Where did you hear about us?
picker304 [23:32]: Believe me they're plenty here that will help
Gar [23:32]: Man don't you people ever have anything else to do? (Lol...kidding)
quickinvestment [23:32]: i was watching some videos in youtube and found this software
picker304 [23:33]: Hey who are you anyway?
Gar [23:33]: The futures are sky high into outer space. Going to be next to impossible to trade tomorrow AM.
picker304 [23:33]: Thats great quickinvestment welcome
quickinvestment [23:33]: im learning short and options right now .
quickinvestment [23:33]: i am Sam .. french but live in US now
Gar [23:33]: Unless you go at the hoopla peak.
picker304 [23:34]: quickinvestment you need to check out our new book just go to the board all the info is there
Gar [23:34]: I mean go short at the peak, that's the only way you will be able to trade tomorrow AM. Market is going to gap up to the moon, and of course invite sellers.
picker304 [23:34]: Great Sam is much easier to type lol
quickinvestment [23:34]: ;-)
picker304 [23:35]: Yes gar but can't wait to see what the new trading tech will do in that market enviroment
Gar [23:35]: New trading tech?
picker304 [23:36]: Yea you didn't read my email did you?
picker304 [23:36]: shame on you LOL
Gar [23:36]: Look at the emini futures, +2600. Indicates a monster gap up, which will be seller's bait.
Gar [23:36]: Oh you mean the new gap methods you developed?
picker304 [23:36]: Yessss
Gar [23:37]: But have you tried these on a giant gap UP?
picker304 [23:37]: And been promoting it to outside boards and they're starting to roll on in
picker304 [23:37]: No I haven't but plan on doing that
Gar [23:38]: You might find that gap ups do not work the same as gap downs...for reasons I do not know.
quickinvestment [23:38]: brb
Gar [23:38]: But...where do I learn about this technique you developed?
picker304 [23:38]: Yes I'll check that out but I owe it all to SV
picker304 [23:39]: Hang on and I'll show you
picker304 [23:40]: http://www.stockvision.proboards.com/index.cgi?board=gap
moby [23:40]: Gar I suppose you haven't looked into leasing a new server yet for the powerscan version?
Gar [23:40]: Hey moby. Haven't looked into it but I know I can do that if necessary.
Gar [23:41]: And it could be---if we get too many people hitting the server with custom scans.
moby [23:41]: Oh I thought you couldn't proceed with the powerscan without it
Gar [23:43]: No I can, if it is just a couple of people pounding on it. My concern is when we turn it over to 500+ people.
Gar [23:44]: But, I might be able to architech it to actually handle less bandwidth than the current version.
Gar [23:44]: The trick will be to get the client app to do half the work.
Gar [23:45]: picker, it's good to know that technique. Tells me we need an aaroon indicator for the scans.
Gar [23:45]: and adx.
picker304 [23:45]: Gar everyones excited jim didn't even have arron yes that would be great
Gar [23:46]: Anyhow, I can't hang here, too much to do before I get too sleepy. Came by to check on things, plus point out that the market is going to gap up into outerspace, so be VERY cautious for longs.
picker304 [23:46]: Thx Gar
Gar [23:46]: Frankly, the last thing the bulls need is a BIG open. That should draw sellers like flies to honey.
moby [23:47]: thanks Gar see ya
Gar [23:47]: see ya
picker304 [23:49]: Hello everyone. After weeks of testing I have finally found a gap play method that is a sure 80% winner at 1-2% consistent gains and wanted to share with all my SV family. You can learn how here http://www.stockvision.proboards.com/index.cgi?board=gap
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