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Forum date: 05-18-10
JayBird [6:01]: 08:30 US April PPI, Core PPI, April Housing Starts, April Building Permits
12:20 Fed’s Pianalto speaks in Pittsburgh
16:30 US API Crude Oil/Gasoline/Distillate Inventories
17:00 ABC Consumer Confidence
21:45 White House Advisor Volcker to speak at Stanford University.
Earnings
Before the Open: ANF, DKS, HD, KIRK, SKS, SCR, TJX, TNP, VOD, WMT
After the Close: APP, ADI, HPQ
JayBird [6:05]: Tomorrow morning, four economic reports are scheduled to be released before the open: 1) Housing Starts (Consensus 655K), 2) Building Permits (Consensus 680K), 3) PPI (Consensus 0.1%) and 4) Core PPI (Consensus 0.1%).
Tomorrow before the open look for the following companies to report: ANF, DKS, HD, KIRK, SKS, SCR, TJX, TNP, and WMT.
nester [7:28]: NEW YORK (AP) -- Stock futures rose Tuesday as investors kept a close eye on the movement of the euro, which also climbed.
The euro has been the primary driver of trading in recent days because it is now seen as a proxy for confidence in Europe's economy. Investors are concerned that austerity measures being implemented in countries like Greece, Spain and Portugal will be a drag on a global economic recovery. That worry sent the euro to a four-year low Monday and has added volatility to markets around the world in recent weeks.
nester [7:28]: SINGAPORE (AP) -- Oil prices rose above $71 a barrel Tuesday in Asia, bouncing back after fears a European debt crisis could halt a global economic recovery sparked a 20 percent sell-off over two weeks.
Benchmark crude for June delivery was up $1.60 to $71.68 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The June contract dropped $1.53, or 2.1 percent, to $70.08, a three-month low.
Crude has plummeted from $87.15 a barrel on May 3 on investor concern that deep government spending cuts and spiraling higher debt obligations will choke off economic growth and oil demand.
nester [7:29]: BRUSSELS (AP) -- EU nations are pushing for deep deficit cuts Tuesday to restore confidence in European governments' ability to tame the debt crisis and keep it from derailing the economic recovery.
Investors fear that European countries will not be able to reduce mounting debt and avoid years of slow economic growth despite a euro750 billion ($1 trillion) rescue package agreed last week to help eurozone nations avoid default.
EU Economy Commissioner Olli Rehn told reporters Tuesday that finance ministers would negotiate tougher budget rules because "it is now very important to reinforce confidence in the euro economy."
Market worries about Europe's economy have helped fuel the euro's fall to its lowest level against the dollar since April 2006 and lifted the price of gold, traditionally a safe haven when markets lose faith in other assets
nester [7:30]: WASHINGTON (AP) -- The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.
Treasury said Monday that Chrysler repaid $1.9 billion of a $4 billion loan, which was extended before the company filed for Chapter 11. The government hopes to get another $500 million from the company that emerged from bankruptcy, Chrysler Group LLC.
nester [7:31]: 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-2602521947.html?x=0&.v=1
nester [7:31]: 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-2181219205.html?x=0&.v=1
nester [7:32]: U.S. stock futures edged upward Tuesday as traders eye inflation, housing and key earnings reports to determine which of the previous session's move made more sense—the morning plunge or the afternoon recovery.
Less than three hours before the start of trading, Dow Jones Industrial Average futures were 38 points higher at 10637. The S&P 500 futures advanced 5.4 points to 1139.9 and Nasdaq 100 futures gained 8.75 points to 1922.25. Changes in futures do not always accurately predict early market moves after the opening bell.
nester [7:32]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Tuesday's session are Wal-Mart Stores Inc., Hewlett-Packard Co. and Home Depot Inc.
jim [8:18]: Morning Nester
ortrade [8:18]: Good morning
picker304 [8:18]: Hello everyone. Really busy at work miss you all
nester [8:20]: morning Jim, pick & ortrade...
picker304 [8:21]: A few have requested a visual of my aroon macd setup. Our alternate board stopped working and I had to start another. If interested go here to view the setup http://www.garsworld.proboards.com/index.cgi?board=general&action=display&thread=2
picker304 [8:22]: Hope to be a regular again soon when things slow down here Happy Trading everyone
ortrade [8:23]: morning jim, nester and picker
jim [8:24]: Morning Ortrade, Pick
ortrade [8:25]: Looking now at the indexes, market seems to be consolidating on the daily.. given the FOMC tommorrow the range today should not be very broad..
nester [8:26]: thinking we are closing green today. wed, thurs and friday will be down days. just a prediction...
LEECO [8:29]: Good Moprning JB,nester,jim,ortrade,picker,-Indexes are up all over the world-stocks trading in Europe general up-hope to sell covered calls while Stocks are up a bit
jim [8:30]: Morning Leeco
nester [8:30]: morning Sir.
DJalecC [12:30]: morning all :-)
LEECO [8:34]: morning-DJ-nester-The chesterfield county airport has just upgraded(that was where I kept my Mooney 231)
LEECO [8:35]: Will be a 6600 foot runway heavied for medium wt jets-WishI was still flying
picker304 [8:37]: Hello everyone. If anyone sees bulldogchip today would you please send him to the new board. He had emailed about the aroon setup. Would appreciate it Gotta run see ya soon and wish all the best of luck today
nester [8:37]: got to get running off to another stinkin meeting. be back sometime in the afternoon. Good luck all.
jim [8:38]: see ya Nester
knight [8:50]: good morning
Willie2 [8:52]: Morning all lot of heavy buying in C this morning
LEECO [8:53]: Good Morning Prof. knight,& Willie2 too
knight [8:53]: gm leeco what's up ?
LEECO [8:56]: Prof-All longs up, all bear ETF's down 2%+ PIEX is down from yesterday morning to 0.97 from yesterday's 1.06-they should be throwing off the curse soon?
knight [8:57]: june 8 leeco
knight [8:58]: profit is now on the road for peix after all bad news past
LEECO [8:58]: LOL-why 8 June rather than 15th or Aug 10 etc
DJalecC [8:58]: Looking good = VCLK & EGY, got to be +10c in these today, what do you think?
knight [8:59]: i keep adding peix at ,88 yesterday -- today made more than 10 % already
knight [9:00]: BK exit --
knight [9:01]: for the sons campagny and reorganization
LEECO [9:01]: OK-makes sense
Andrew [9:02]: Good morning
knight [9:02]: all bad news are behind and now the sky is clear for PEIX
knight [9:03]: they are re-opening 2 plants for more production
knight [9:04]: my pcs still continue up too
majour [9:05]: Morning all
porti [9:05]: Hi all from sunny Switzerland, first sunshine in 3 weeks! Must go green today on stockmarket
LEECO [9:05]: Prof-PIEX earnings due 29 July whisper is 12 cents analyst price target is $ 9.50
LEECO [9:05]: morning majour, Guten morgen porti
knight [9:06]: yes , i think it's possible leeco
majour [9:06]: morning LEECO
knight [9:06]: only half , i will be happy
porti [9:06]: Guten morgen Leeco, alles gut bei Dir
LEECO [9:07]: mistype meant PEIX
knight [9:07]: i like FRE & FNM »- cheap buy right now
LEECO [9:07]: allesv Gut wie gates & vix machs du
porti [9:08]: i missed peix! watched it all day yesterday, but made nothing ...
porti [9:08]: lol
Andrew [9:14]: VCLK is still looking great despite the recent market weakness.
LEECO [9:16]: vclk is down in premarket
LEECO [9:17]: Noe up 4 cents
Andrew [9:18]: It's not really down Leeco, there's a 11.40 bid and 11.50 ask so it will flip flop back and forth depending on where the transaction takes place.
LEECO [9:18]: Andrew since you follow VCLK What is time &price to enter it?
Andrew [9:19]: I like 11.20 as an area to attempt an entry.
LEECO [9:20]: Thanx
Andrew [9:21]: I'd probably try to wait until after 10:00am or so since VCLK recently has been selling off a bit near the open.
Andrew [9:23]: I think TIVO could be a great short again today. It didn't participate in yesterday's rally.
LEECO [9:24]: I like the wait till 10:+
Andrew [9:31]: short TIVO 10.52
Andrew [9:32]: short DAN 11.79
Iswing64 [9:33]: L..DF @ 10.01 60 min
karenbcz [9:33]: Traps not working?
Joe47121 [9:33]: GMCR down 66%
Andrew [9:33]: I think they don't start coming through until 9:40am
karenbcz [9:34]: thx.
Andrew [9:34]: GMCR just had a stock split - 3:1
Joe47121 [9:35]: don't know what is going on... down 66%
compoundgains [9:35]: Out ARNA 3.21avg/3.29 +2.5% Hold from yesterday
Joe47121 [9:35]: talk to you guys later gotta run.
compoundgains [9:37]: Out EMKR 1.15/1.20 +4.3% Hold from yesterday
karenbcz [9:37]: wooo weee .. look at ABK!
Andrew [9:37]: The financials had a really weak open
Andrew [9:38]: long ABK 1.30
ortrade [9:38]: TNDM good long and PWER good short
karenbcz [9:39]: L ABK @ 1.32
ortrade [9:39]: TND 200@14.07$pe
jim [9:39]: L PCBC 1.89
ortrade [9:39]: PWER 200s@7.90pe
Andrew [9:41]: Not liking how ABK is failing to bounce with its sector.
compoundgains [9:44]: L ABK 1.32
karenbcz [9:44]: Andrew: it's just a lil' slow.
Andrew [9:44]: long FAZ 13.53
compoundgains [9:45]: L RSO 6.27
karenbcz [9:45]: there is goes Andrew ... ABK ..
Andrew [9:45]: good call
Andrew [9:46]: out ABK +3.1%
Andrew [9:47]: out DAN -0.42%
Iswing64 [9:47]: L AONE @ 10.91
Andrew [9:47]: added to FAZ 13.49
Andrew [9:48]: added to FAZ 13.51
madriver [9:48]: anyone use the RSI?
Andrew [9:50]: long MON 55.83
Andrew [9:50]: added to TIVO short 10.32
compoundgains [9:51]: Out ABK 1.32/1.36 +3%
Andrew [9:52]: added to MON 55.51
Iswing64 [9:55]: L AIG @ 39.69 P
Andrew [10:00]: out 1/3rd FAZ +1.9%
Andrew [10:01]: out half TIVO +3%
Andrew [10:02]: If TIVO breaks down below 10.00 I wonder how it will act.
Andrew [10:03]: out half MON -0.32%
Andrew [10:04]: added to MON 55.38
Andrew [10:05]: I should have had a 2-cent wider stop on DAN this morning. Oh well.
Andrew [10:12]: out MON -0.35%
knight [10:13]: faz 13,8 short
Andrew [10:13]: short VVUS 13.03
Andrew [10:14]: VVUS looks like it's having some problems holding its huge gap up since the open.
Andrew [10:15]: out another 1/3rd FAZ +1%
Andrew [10:16]: added back to TIVO short 10.09
karenbcz [10:17]: oh geez! am I stuck in ABK now?
Andrew [10:19]: long VCLK 11.40, it doesn't seem to want to pull back much
compoundgains [10:19]: L ABK 1.31
Andrew [10:21]: tripled back up on FAZ 13.66
madriver [10:22]: unless market pushes pretty hard north ABK doesn't look good
Andrew [10:22]: It kind of looks like a good short to me.
madriver [10:22]: exactly
ortrade [10:23]: Took two shorts today with real money too fast to post. AKAM - did not calculate stop loss accofding to prev range but to according to half number and exited prematurely at stop loss that is -32$. If held would have made +120$. Also entered TTWO short that retraced and exited at -4$ loss as it hit stop loss. Total -36$ loss for the day real $$.
Andrew [10:23]: TIVO broke through Friday's lows
ortrade [10:24]: Exit PWER no gain/loss.
Andrew [10:25]: added to TIVO short 10.07
ortrade [10:25]: Exit SKF (overnight hold from yesterday +760$pe
Andrew [10:26]: added to VVUS short 12.94
Andrew [10:28]: back in MON 55.08
Andrew [10:32]: VCLK is beginning to look a lot better
Andrew [10:33]: out MON tiny loss
ortrade [10:33]: Like yesterday the market is going down after 10.30 and my earlier shorts are going down big AKAM and TTWO.
ortrade [10:34]: TTWO 500s@11.38pe
Andrew [10:34]: out 1/3rd FAZ +1.3%
Andrew [10:34]: out 1/3rd TIVO +1.6%
ortrade [10:35]: SKF 500@19.75$pe
fwguyus [10:35]: LNC RUNNING UP
Andrew [10:36]: short RDN 10.04, looks a lot like a double top
knight [10:38]: GO FOR A LITTLE TRADE peix AT .88
ortrade [10:38]: Nasdaq the weaker index has reached the open of morning gap hence the mild retracement.
ortrade [10:39]: If market bounce here then an uptrend likely will start..
Andrew [10:41]: added to RDN short 10.05
karenbcz [10:42]: TZA
ortrade [10:42]: Since news are after 12.20 if we are rallying on the rumor then market in principle should go up till then.. The thing is there is plenty of time to rally later maybe an 1 hour/1.5hour before 12.20pm.. So I epxect further dtn at this point.
knight [10:42]: AFTER 4 WEEKS OF CORRECTION WE SHOULD TURN OF COURSE
Andrew [10:42]: short ABK 1.28
Andrew [10:43]: out VVUS +1%
Andrew [10:44]: added to ABK short 1.29
fwguyus [10:44]: why are my traps not working...3% down, and 3%up active...?
Andrew [10:45]: They are working. It's just that the only traps so far seem to be about 1% today.
Andrew [10:45]: Some days there will be a lot more traps than others.
madriver [10:46]: vxx made a nice move...I'm out now
ortrade [10:47]: AKAM would have made me 260$ real money if I would have held it.. nasty..
ortrade [10:48]: Exit TNDM -24$pe
Andrew [10:48]: out another 1/3rd FAZ +2.1%
karenbcz [10:48]: Hmmmm ... TZA starting to fly
Andrew [10:49]: out another 1/3rd TIVO +2.1%
Andrew [10:49]: out rest of FAZ +2.8%
ortrade [10:50]: TNDM 500s@13.92$pe
Andrew [10:50]: long FAS 27.51
Andrew [10:51]: out half RDN +2.5%
Andrew [10:52]: added to FAS 27.34
fwguyus [10:52]: tza running up fast
ortrade [10:52]: Yesterday and today the market trick is to hit investors in particular the 10.30am long strategies. WIth the market aggressive retracement after 10.30 no matter if you are news contrararian or not you longs are likely toast going red till lower levels are reached..
fwguyus [10:52]: tza running up fast
Andrew [10:52]: added to FAS 27.43
madriver [10:53]: should run fax considering it's 3x right?
madriver [10:53]: fast
Andrew [10:53]: Yes
karenbcz [10:53]: lol!
Andrew [10:54]: added to VCLK 11.44 - like how it's been holding up well during the market selling
karenbcz [10:54]: Mad: you ARE class-clown! :>)
fwguyus [10:55]: did any one get in on sprint?
ortrade [10:55]: 50% fibs on Nasdaq hit from yesterday low pivot on 5 min chart
fwguyus [10:55]: made my losses back from c yesterday...
karenbcz [10:55]: oh good@ fwg
bfez [10:55]: Short TSTC @ 10.39
madriver [10:55]: I missed it what's funny
fwguyus [10:56]: : )
ortrade [10:56]: Exit TTWO -80$pe
Andrew [10:56]: If we don't bounce near here, I don't think it bodes well for the rest of the day
madriver [10:57]: whatever Karen
ortrade [10:57]: TTWO defied the market and keeps going up from some unclear reason on very big volume..
Andrew [10:58]: There must be funds switching their money over to the strongest stocks recently like TTWO
LEECO [10:58]: Paper Buy 1000 JCI @ $30.15Stop 30.1
Andrew [10:59]: added back to TIVO short 10.14
fwguyus [10:59]: TER look like it wants to bounce back up?
ortrade [10:59]: Exit TNDM no gain/loss.
Andrew [10:59]: added back to RDN short 9.94
Andrew [11:00]: out 1/3rd FAS +1%
ortrade [11:02]: EXIT SKF +50$pe
Andrew [11:02]: out another 1/3rd FAS +1%
bfez [11:02]: TSTC - Covered 10.53 - Minus .14
ortrade [11:03]: SKF 500s@19.87pe
Andrew [11:03]: out rest of FAS +0.6%
Andrew [11:04]: long FAZ 13.94
Andrew [11:04]: tripled up on FAZ 13.98
ortrade [11:05]: TTWO 500s@11.49$pe
fwguyus [11:05]: ter is bouncing back up
Andrew [11:06]: TER looks like a pretty nice short
guymar [11:06]: haup is bouncing
Andrew [11:06]: short TER 11.15
guymar [11:07]: sorry was busy, entered at 2.98 in HAUP
guymar [11:10]: out at 3.45
guymar [11:10]: first good trade in more than 3 days
guymar [11:10]: pfew
Andrew [11:10]: nice one
guymar [11:11]: was getting desperate there
madriver [11:11]: not sure why ter is a nice short
Andrew [11:12]: out 2/3rds FAZ -0.34%
fwguyus [11:12]: Bought TER at 11.19
Andrew [11:12]: out TIVO -0.52%
ortrade [11:12]: Till 12.20pm I believe market will rally.
Andrew [11:12]: out ABK +1.1%
fwguyus [11:12]: TER is breaking out...get in now..
guymar [11:13]: no tons of upside on TER, but enough for a quick trade
Andrew [11:13]: added to TER short 11.26
madriver [11:13]: andrew your losing the first part of short so your adding on.....
fwguyus [11:13]: andrew you shorted TER
fwguyus [11:13]: I m in long
Andrew [11:13]: I liked how it was a very weak stock that had popped up.
madriver [11:14]: i see what your'e doing
Andrew [11:14]: I don't see it going beyond 11.30
Andrew [11:14]: just my opinion though
guymar [11:15]: me neither
fwguyus [11:15]: no problem..but it made new tops three times ...
Andrew [11:15]: added back to FAZ 13.90
ortrade [11:15]: Adding to a losing position works out when market turns and you can exit earlier at breakeven.. if It keeps going against you you will be losing more. Understanding that each adding to position is a new position it is in a way like adding to a bet in a poker game with its pros and cons..
guymar [11:16]: yes, looks like three white soldiers in 5'
madriver [11:16]: me neither so why not wait till it gets closer
Andrew [11:16]: I thought there was a good chance it would fail at 11.17 too so considered that a decent place to initiate the short
guymar [11:17]: yes 10 MA right (5')?
Andrew [11:17]: added to TER short 11.24
fwguyus [11:18]: Andrew you are scaring the pants out of me..
Andrew [11:19]: If if makes you feel better this type of setup often leads to my biggest losing trades.
fwguyus [11:19]: lol
Andrew [11:19]: High win rate though
madriver [11:19]: I don't care just trying to follow
madriver [11:19]: I think TER is going down with the market today IMO
fwguyus [11:20]: i m better put my stop on it now..then...
madriver [11:20]: I said IMO
fwguyus [11:20]: or take my profit and run...
Andrew [11:21]: VCLK back near highs
madriver [11:21]: that would be me but that's me
madriver [11:22]: if you are up 2-3% I would run IMO
Andrew [11:22]: added to FAZ 13.98
guymar [11:23]: out of the market or out of TER?
ortrade [11:23]: market may just be going sideways till news time since 10 and 40 MA on 5 min on indexes are strongly entangled..
madriver [11:23]: ask Karen she would have an opinion
Andrew [11:24]: out half RDN +1.1%
madriver [11:25]: ter
Andrew [11:25]: added to VCLK 11.53
guymar [11:25]: damn missed a trade on SOXL
guymar [11:26]: 5' went like clockwork
Andrew [11:29]: out 2/3rds FAZ -0.35%
fwguyus [11:29]: what do you all have your traps setup at?
moby [11:30]: guymar: clockwork? which part ? the bounce off the low or the actual decline at the bell?
Andrew [11:30]: 1%, 1%, 10%, 10%
moby [11:32]: or the hammer reversal of the lower bolinger?
guymar [11:35]: hammer reversal in the bollinger band 5'
moby [11:36]: thank you :)
fwguyus [11:37]: HDY all over the map...
guymar [11:37]: actually cross MA(10) in 1' to confirm, that was second hammer and out on touch MA 10 in 1'
Andrew [11:37]: tripled back up in FAZ 13.97
guymar [11:39]: HDY looks like roach motel to me
Andrew [11:41]: out 1/3rd FAZ +1.2%
bfez [11:41]: Andrew, how to set @10%?
Andrew [11:42]: out 2nd half RDN +2.2%
Andrew [11:42]: I think only the mac version has 10%.
bfez [11:42]: Thanks
Andrew [11:42]: I might actually raise mine since a lot of the 10% ones aren't too interesting.
ortrade [11:44]: Exit SKF -135$pe
Andrew [11:44]: out another 1/3rd FAZ +2.2%
Andrew [11:44]: out 1/3rd TER +1%
bfez [11:45]: Short TER 11.14
ortrade [11:45]: SKF 500s@20.22$pe
compoundgains [11:47]: Out ABK 1.31/1.20 -8.4%
compoundgains [11:50]: L ABK 1.13
bfez [11:50]: TER Covered 11.16
Andrew [11:50]: I exited at a horrible place on ABK earlier
bfez [11:50]: Seems there is no conviction in this market
bfez [11:51]: No momentum. Much indecision.
LEECO [11:51]: Paper trade Stopped out of JCI @ $ 30.10-loss $50 =-0.00166%
madriver [11:55]: ABK--Long or short?...exited adx cross up then down she went
ortrade [11:55]: Volatility is large today with lots of discontinuities on any solid bar..
madriver [11:57]: dennis gartmann says to exit gold...thanks Dennis
guymar [11:58]: super hammer on SQNM in the 1' just too late ....
ortrade [11:59]: Start not liking trading.. at losses very large bar against trade in minutes, at gains wait for hours for stock to move a pip.. lol..
Andrew [12:00]: long VVUS 13.25
compoundgains [12:00]: Out ABK 1.13/1.19 +5.3%...think I've had enough of ABK
moby [12:01]: I a hammer to be at the bottom of a trend and if possible at the bottom of a bollinger or the bottom of a regression channel
moby [12:01]: I like*
Andrew [12:01]: added to VVUS 13.31
ortrade [12:02]: Exit SKF no gain/loss.
guymar [12:02]: just a scalp trade though :)
fuseboxxx [12:02]: VLNC ..Damn dud!..ARGGG!
moby [12:03]: yes, too fast for me :)
guymar [12:03]: but BB inside Keltner on that one in the 5 minute - volatility coming
Andrew [12:04]: out rest of FAZ +3%
bfez [12:04]: Guymar, what is meat by "in the 1' ?
moby [12:04]: I min chart
bfez [12:04]: meant
Andrew [12:04]: long FAS 26.71
bfez [12:04]: Thanks
ortrade [12:04]: SKF 1000@20.32pe
guymar [12:04]: This is a trade where you need CCI crossing -100 and not 0 - the 1 minute chart
moby [12:05]: CCI a main indicator for you guymar?
guymar [12:06]: nono - more to get out of a trade
Andrew [12:06]: tripled up on FAS 26.74
guymar [12:06]: but here confirmation
moby [12:06]: I see thanks
guymar [12:06]: brb
moby [12:06]: later gone for a while
DJalecC [12:07]: in EGY @ 5.18
Andrew [12:07]: I'm currently long VCLK, VVUS, and FAS, and short TER.
picker304 [12:08]: Out DAN 11.80 11.47 2.87+
fuseboxxx [12:08]: ABK long..1.15
picker304 [12:09]: Out F 11.92 11.72 1.78+
picker304 [12:10]: Has anyone seen bulldogchip today?
Andrew [12:10]: I haven't
picker304 [12:10]: Thx Andrew
Andrew [12:11]: out 1/3rd FAS +1%
Andrew [12:12]: out rest of TER tiny gain
ortrade [12:12]: Exit SKF -170pe
fwguyus [12:12]: good job on TER andrew
ortrade [12:13]: SKF 1000s@20.17$pe
Andrew [12:13]: It didn't really do what I expected. I was hoping to see another portion near 11.00 and the rest near 10.90.
Andrew [12:14]: It instead put in a higher low while the overall market made a lower low.
fwguyus [12:14]: so what does that mean?
Andrew [12:15]: I don't really like it either as a long or a short right now at this price.
Andrew [12:16]: out rest of FAS +1%
bfez [12:16]: Andrew, what is the tick minutes you are using? 1, 3, 5, 10 minutes?
Andrew [12:16]: long FAZ 14.27
Andrew [12:16]: What is a tick minute?
bfez [12:17]: Are you using 1, 3 5, 10 minutes before the next bar is completed?
Andrew [12:17]: 5 minutes
bfez [12:18]: Thanks
moby [12:18]: fw: pe means papertrade experiment
td [12:18]: Hay Andrew check out TSL
bfez [12:19]: i'm trying to see how you're thinking. You are hitting at a good rate.
Andrew [12:19]: Wow TSL's daily is extremely ugly.
td [12:19]: Good short at times
td [12:20]: TSL showed up on BREAKDOWNS
fwguyus [12:21]: hyc
Andrew [12:21]: tripled up on FAZ 14.27
td [12:21]: Andrew = breakdowns
td [12:21]: sorry
Andrew [12:22]: out half VVUS no gain/loss
Andrew [12:24]: Breakdowns and Big Sell Volume are working really great today in What Works
td [12:25]: Andrew exactly
compoundgains [12:26]: L NLST 2.70
Andrew [12:32]: added back to VVUS 13.38
guymar [12:32]: INDU should be pushing up to 10770 this afternoon
guymar [12:34]: well - that is if all goes well :)
Andrew [12:34]: Part of me feels like there could be a trap for the bulls thinking we could bounce right at noon again like yesterday.
Andrew [12:35]: out 2/3rds FAZ -0.5%
Andrew [12:36]: added back to FAZ 14.16
Andrew [12:36]: added to FAZ 14.17
guymar [12:37]: We'll be hitting resistance in 5', 15', 60 and daily, I'm even thinking we might not make it up to that level....
Andrew [12:41]: out half VVUS +1.7%
Andrew [12:41]: out 2/3rds VCLK +1%
td [12:43]: FMER good short here
compoundgains [12:45]: L FSII 2.99
Andrew [12:46]: added to FAZ 14.09
guymar [12:46]: DDM long 45.93
Andrew [12:47]: added to FAZ 14.04
prp25brad [12:47]: paper short GMXR 7.75
fwguyus [12:47]: ter going back up
guymar [12:52]: out at 45.87 d***
prp25brad [12:52]: watching BYD
guymar [12:53]: up or down?
prp25brad [12:55]: Short BYD 14.64
guymar [12:56]: When BB inside Keltner always wait until CCI crosses 100 or -100
Andrew [12:57]: out half FAZ -0.18%
guymar [12:57]: there we just crossed 0
guymar [12:57]: for BYD
Andrew [12:58]: added to FAZ 14.13
prp25brad [12:58]: Or the easier analysis of BYD is look at the volume and price at 11:10 and notice at 12:50 it did the same thing. You know without more volume that stock will not go above what it could at 11:10.
prp25brad [12:59]: 5 minute charts
guymar [12:59]: to avoid what Bollinger calls the "Head Fake"
guymar [12:59]: yup 5'
prp25brad [12:59]: easy pickins. hard part is when to get out
Andrew [12:59]: added to VVUS 13.46
nester [12:59]: FAZ looking good...
fwguyus [13:00]: low volume but ..HOOK
Andrew [13:01]: out 2/3rds FAZ +1%, that more than makes up for my losing trades in it
prp25brad [13:01]: Out GMXR +1.7%
nester [13:01]: think it will go above 14.50 today?
Andrew [13:02]: I doubt it
Andrew [13:02]: added back to FAZ 14.21
Andrew [13:03]: Oh 14.50 maybe - I was thinkin 14.70
Andrew [13:04]: added to FAZ 14.31
nester [13:04]: bought $14 calls last nite before close. if it gets above that, should be able to get about 25% on that trade
prp25brad [13:04]: URE.
prp25brad [13:04]: huge vol spike
nester [13:05]: hey brad. doing good today?
prp25brad [13:05]: not too bad. 2 trades, and i"m positive on both. one paper
Andrew [13:05]: Was GMXR based on the 20-day?
fwguyus [13:05]: hey nes..how u doin
prp25brad [13:05]: volume only
karenbcz [13:05]: TD: good call on FMER.
karenbcz [13:05]: TD: good call on FMER :>)
compoundgains [13:05]: Out NLST 1.70/1.75 +2.9%
prp25brad [13:06]: URE will probably keep going
nester [13:06]: hey fw - doing well so far. up on my FAZ
Andrew [13:06]: out rest of VCLK tiny gain
prp25brad [13:06]: bottom falling out of the market
Andrew [13:06]: out 1/3rd FAZ +1.5%
prp25brad [13:08]: Out BYD +1.5%
prp25brad [13:08]: Long BYD
Andrew [13:09]: added back to FAZ 14.38
karenbcz [13:10]: Nice bounce on FMER
Andrew [13:12]: out 1/3rd FAZ +1.4%
compoundgains [13:13]: L ENCO 3.07
prp25brad [13:13]: Out BYD -1.2%
Andrew [13:14]: out another 1/3rd FAZ +1.6%
Andrew [13:14]: out rest of FAZ +1.5%
prp25brad [13:14]: FMER looking strong even though the market is tanking
Andrew [13:14]: long FAS 26.54
Andrew [13:15]: tripled up on FAS 26.56
prp25brad [13:15]: Long FMER
Andrew [13:21]: It kind of feels like we're down more than just -40 points today.
Andrew [13:24]: out half VVUS +1.5%
karenbcz [13:25]: PRP25: nice steady movement on FMER :>)
nester [13:27]: out FAZ calls 19%
Andrew [13:28]: Great!
Andrew [13:28]: out 2/3rds FAS +1%
karenbcz [13:29]: PRP : looks like it's gonna go down.
guymar [13:33]: I get invalid symbol error on PRP
karenbcz [13:33]: GUY: sorry ... PRP is the poster. The stock symbol is FMER
guymar [13:34]: ok I'll have a look
compoundgains [13:34]: L CAGC 14.44
fwguyus [13:34]: how does sons look for a long
Andrew [13:35]: out rest of FAS +1%
karenbcz [13:35]: GUY: I posted as a buy @ 1:10 PM, but it stalled @ $19.19.
Andrew [13:35]: long FAZ 14.38
guymar [13:35]: FMER contradictory signals, could go up or down
guymar [13:36]: it's hanging onto 10 MA in 1' chart, but no, just went trough
Andrew [13:36]: doubled up on FAZ 14.42
guymar [13:36]: could shoot up again afterwards
Andrew [13:37]: tripled up on FAZ 14.43
nester [13:37]: short AEO 15.45
guymar [13:37]: get out of CAGC, look like a nosedive
guymar [13:37]: looks
compoundgains [13:39]: Doubled up RSO
Andrew [13:39]: added back to VVUS 13.42
Andrew [13:41]: added to VVUS 13.33
guymar [13:41]: look at FMER
nester [13:41]: MAT $23 puts $1.20
Andrew [13:44]: out 1/3rd FAZ +1%, out VVUS -0.54%
nester [13:44]: FAZ @ 14.50
Andrew [13:45]: back short TIVO 10.01
Andrew [13:46]: added to TIVO short 10.00
jaws [13:47]: Gar's observation the other day was interesting. Right now, the SPY and the euro are both off about 1%.
compoundgains [13:47]: L BPSG 3.66
Andrew [13:48]: out rest of FAZ +!%
Andrew [13:48]: out TIVO -0.35%
Andrew [13:52]: long FAS 26.31
Andrew [13:55]: long TSL 17.05
Andrew [13:55]: added to FAS 26.22
fwguyus [13:56]: uco and ewu nosedivn
Andrew [13:56]: added to FAS 26.16
Andrew [14:01]: out 2/3rds FAS -0.5%
Andrew [14:02]: added back to FAS 26.13
Andrew [14:02]: added to FAS 26.16
nester [14:03]: out FAZ +1.2%
Andrew [14:08]: added to FAS 26.28
fwguyus [14:08]: s trying to make a run up
Andrew [14:11]: added to TSL 17.06
Andrew [14:16]: out TSL -0.32%
ortrade [14:20]: TTWO is droping now
nester [14:21]: man, i really like this market today...
Andrew [14:21]: added to FAS 26.06
nester [14:21]: FAZ 14.65
Andrew [14:22]: out half FAS tiny loss
Andrew [14:22]: added back to FAS 26.08
nester [14:22]: i mis-read that pullback on FAZ would be up another 8% on those calls
ortrade [14:22]: The market may bounce of the 2315.53 for Nasdaq
ortrade [14:23]: If it drops below 2323. I exit my SKF position at big paper loss.. nasty
Andrew [14:23]: I'm still not quite ready to give up on the market bounce possibility.
nester [14:24]: the financials i thought would pull back to the 14.30ish area a while back.
Andrew [14:25]: added to FAS 26.04
nester [14:26]: out FAZ small gain
nester [14:26]: wow. head faked me out...
ortrade [14:27]: Exit SKF -520$pe
Andrew [14:27]: The financials are back to where they bounced yesterday afternoon
Andrew [14:29]: added to FAS 25.96
nester [14:29]: would love a good pullback on FAZ so i can get a few more calls...
Andrew [14:31]: out FAS -1.1%
ortrade [14:32]: SKF 2000@20.76$pe
ortrade [14:33]: Exit TTWO +85$pe
Andrew [14:33]: back in FAS 25.60
ortrade [14:33]: market is very short persistent today..
Andrew [14:34]: tripled up on FAS 25.66
Andrew [14:35]: added to FAS 25.62
Andrew [14:36]: The financials are now sitting on the 200-day moving avg.
ortrade [14:36]: looks like the metball trader is back in business this time it hit the Q
Andrew [14:37]: added to FAS 25.48
ortrade [14:37]: Exit SKF +320$pe
ortrade [14:38]: SKF 2000s@20.94pe
compoundgains [14:41]: L ABK 1.10
Willie2 [14:41]: Germany will no longer allow short selling
ortrade [14:42]: most traps seemingly are set on the reversal levels once a reversal does not happen the market slides big against the reversal to unrecoverable losses..
DJalecC [14:42]: OUT EGY @ 4.96 -4%
ortrade [14:47]: Looks like this time we may have the reversal right on the indexes..
ortrade [14:49]: If they eliminate shorting many hedge funds may go out of business and in fact it is likely not healthy for the markets. What leads to market collapse is seldom the shorting as the lack of shorting that is the market reaches a height too fast from which it can only crash..
Andrew [14:50]: out FAS -0.6%
compoundgains [14:50]: Out ABK 1.10/1.13 +2.7%
Andrew [14:51]: back in FAS 25.38 (triple position)
Andrew [14:52]: added to FAS 25.42 (double position)
moby [14:53]: shorting is the only thing that makes it a true market, that up tick rule is bull too
guymar [14:54]: May 18 (Bloomberg) -- Germany’s BaFin financial-services regulator said that it will introduce a temporary ban on naked short-selling and naked credit-default swaps of euro-area government bonds starting at midnight.
The ban will also apply to naked short-selling in shares of 10 banks and insurers including Allianz SE and Deutsche Bank AG, BaFin said today in an e-mailed statement.
ortrade [14:54]: also market reversal to the upside seldom occur in spikes but rather in consolidation from which market may spike up/down later. If the entry for long is at consolidation top that is holding in negative teritory.. Now I hope my entry in SKF short is at consolidation bottom..
Andrew [14:54]: Oh that seems like they are only banning naked shorting.
Willie2 [14:54]: P.S. Its Naked short selling they are banning
guymar [14:55]: I just posted the article - only on select financials and CDSs on Bunds
guymar [14:55]: seems reasonable
guymar [14:56]: CDSs are too cheap a way to short a market, there is very limited loss compared to the potential upside
guymar [14:56]: and honestly - I don't think it is normal I could take an insurance out on your car because I know you are a poor driver, so when you crash I get paid
guymar [14:57]: SKF going on and on
Andrew [14:59]: Apparently I'm the only one out there who respects the 200-day moving average in the financials, lol.
guymar [14:59]: No - you are not :)
ortrade [14:59]: SKF still close to where I bought it for the short 20.94..lol..
karenbcz [15:00]: Anyone like FMER long @ $19.oo?
nester [15:00]: lol... just sitting back on FAZ for a pullback. everytime it looks like it will, it ticks north...
nester [15:00]: just don't trust it long right now
moby [15:01]: guymar, your CCI setting is 10,14, 20 or 34 please
Andrew [15:01]: out half FAS -1.1%
guymar [15:02]: ha now this one is difficult
Andrew [15:02]: The lack of a meaningful bounce is beginning to remind me of the Thursday crash day.
guymar [15:03]: it is the GET study made by Woodie the man himself
guymar [15:03]: I just left it on default :)
Andrew [15:03]: Maybe the high frequency traders decided to just walk away.
Andrew [15:03]: doubled up on FAS 25.10
nester [15:03]: my two puts are doing great. just wish i would have stayed in FAZ
ortrade [15:04]: The trick of making money I guess is to short agressively the reversal points..
guymar [15:04]: intraday 14 daily and larger 20, number of same signed CCI bars to establish trend: 6 number of bars to cancel trend: 2
Willie2 [15:04]: Andrew So when FAZ broke thru 200 MA on 5 min chart that was your signel to buy?
ortrade [15:05]: At each reversal point today there was a giant green bar on SKF..
Andrew [15:05]: It's more just how rare it has been to have this consistent of a strong down trend with no reversals.
guymar [15:05]: CCIT line (CCI "Turbo) 6 for daily and intraday
Andrew [15:05]: I got way too stubborn though due to the 200-day moving avg.
guymar [15:06]: source = HLC/3
Andrew [15:06]: It's not often that the financials are down 3% in a single day.
guymar [15:06]: that's it for all the CCI settings over here
ortrade [15:07]: the market is revisitng yesterdays lows on daily on the indexes..
guymar [15:07]: Moby, did you get all that?
karenbcz [15:07]: ANDREW: Ya' know, last week I said, "if Goldman Sachs can make the market go straight up, they can make it go straight down." And I was ridiculed.
guymar [15:08]: FMER bouncing off low
knight [15:08]: faz short 15,25
ortrade [15:09]: I still believe the 2315 is the reversal level on Nasdaq..
karenbcz [15:09]: I'm gonna sell FMER tomorrow @ $19.25. :>)
guymar [15:09]: false alert on FMER
Andrew [15:09]: I'm just glad I was having a near perfect day before I started trading badly.
karenbcz [15:10]: ROFL!!
karenbcz [15:10]: Andrew: I've given up. I feel like I'm in a nuthouse. lol!
Andrew [15:10]: In fact some of my worst trading happens on days when I'm doing my best. I should probably figure that out sometime.
knight [15:11]: add more FAZ short 15,2 & 15,15
karenbcz [15:11]: AND: ...and I'm hearing all these different voices, "it's up", no, it's down", no it's sideways" ....
Andrew [15:11]: lol
nester [15:12]: out AEO short +3%
knight [15:12]: welcome to stock market karen.....
Andrew [15:12]: I'm sure many of us can relate karen.
Gar [15:12]: Here for the close. Pretty good trading market today. Made a killing on papertrade shorts.
Andrew [15:13]: out half FAS +1%
nester [15:13]: if they drive up the financials, i'm buying FAZ calls again tonite
knight [15:13]: what's a riding day up down up down....
Gar [15:13]: This volatility is great for trading, if your timing is right.
Andrew [15:13]: added to FAS 25.54
Gar [15:14]: Now, if the market holds true to its form for the last several months, it should ramp up in the final 20 minutes.
ortrade [15:14]: looks like my reversal level on Nasdaq of 2315 has been precise.. lol
Gar [15:15]: Actually, looks like it is trying to ramp up already.
Andrew [15:15]: out half FAS +1.5%
nester [15:16]: FAZ short 14.94
Andrew [15:16]: added back to FAS 25.49
Gar [15:17]: By the way, I think I finally fixed the chart slowdown issue. Today was the first day I did not have to reset the server, the charts never slowed significantly. This has been a painful debug because I could only try one thing per day.
Andrew [15:18]: Everything ran very smoothly today (except maybe the market, lol).
Gar [15:18]: Lol...well if you're a bear, the market did great today.
moby [15:18]: way to go Gar, applauuuuuuuuse !!!!!!!!!!
Andrew [15:18]: Today makes the rally yesterday afternoon seem even more stupid.
nester [15:18]: love this market today.... finally doing well
Gar [15:19]: Thanks moby, but I need to see it run smoothly for a few days in a row before I call it a real fix. But I am optimistic I fixed it.
moby [15:19]: me too :)
Gar [15:19]: nester, I love this kind of market too. I ALWAYS do my best in downsliding markets.
guymar [15:20]: moby: here's one for you: http://chart.ly/y9tvzk
Andrew [15:20]: Bear markets seem easier because winning trades can be larger.
nester [15:20]: NEW YORK (MarketWatch) -- The euro fell to a fresh 4-year low versus the dollar and U.S. Treasury prices extended gains late Tuesday as reports about Germany banning some short selling and an accelerating decline in U.S. stocks gave traders more reasons to flock to the relative security of the U.S. dollar and government debt.
Sandman [15:20]: I guess I'm the only one who doesn't like this kind of market.
Gar [15:20]: Andrew, I was thinking that exact same thing earlier. That those bozos piling in yesterday afternoon is laughable. And I'll bet they do it AGAIN today.
Gar [15:21]: Sandman, if you don't short, you should at least consider the bear ETFs on trends like this.
nester [15:21]: Gar - that amazes me when you say that and then tell me that your not that good at shorting...
Andrew [15:21]: I didn't really want to continue shorting an hour ago because I was afraid of another yesterday afternoon. That was no excuse to get aggressively long though.
Gar [15:21]: But I like the market today because---for once---something makes sense!
guymar [15:22]: wow just saw the eur - super as a european all my holdings are in USD :)) 1.216 low today
Gar [15:23]: Oh, nester, I'm not good at shorting. Very often, I do well on longs in bear markets, like bouncers and gaps. However, my shorting has gotten better---especially since I added MACD Histograms. Those have helped tremendously for short opportunities.
Andrew [15:23]: added to FAS 25.41
guymar [15:23]: every major sell in equities will kill the EUR
Gar [15:23]: I think I will re-name the S&P to Euro. Same thing...lately.
Sandman [15:23]: I tried it on paper(ETF's) So far I got 31.34%.
nester [15:23]: out FAZ short. -0.5% first loss of the day... 6 of 7
Gar [15:24]: I wonder when people will realize that the US is headed down the same path as Greece?
Andrew [15:24]: lol
guymar [15:24]: sell of equity leads to deleveraging and repayment of USD denominated debt, actually quite simple
karenbcz [15:24]: GAR: you want to hear a crazy story re; Greece?
Andrew [15:24]: laughing at the euro comment, not that the U.S. is heading down same path as Greece.
Sandman [15:25]: But I'm braver on paper than with money.
guymar [15:25]: to repay the debt you have ot buy USD
karenbcz [15:25]: GAR: I ran into some acquaintances who just came from Greece. THey're originaly from Greece. You know what they told me? "Everything in Greece is FINE! We had a wonderful time!" I was flabbergasted!
nester [15:26]: Sandman - have to be the same. if you have a set up you trade, trade it. paper or real. same thought process
Andrew [15:26]: added to FAS 25.28
nester [15:26]: i guess that was our "uptick" on all those stocks. time to short...
Gar [15:26]: Karen, that is pretty funny. Question is what did they expect? Groveling on the streets?
Sandman [15:27]: Hi nester
Gar [15:27]: In about 15-20 minutes, they will try to jam this market up once again. Is my guess.
nester [15:27]: hey Sandman. don't think of those as being different. have to use the same process
Gar [15:28]: Seriously though, when I got up this morning and saw the Dow hit +80, my first thought was, "What a magnificant shorting opportinity."
knight [15:28]: who are THEY gar ? who you are talking about ?
moby [15:28]: thanks guymar, some reason it is slow to load, will try later.
Sandman [15:28]: I use the same system but I don't know if I'm ready yet.
Andrew [15:28]: They = the bulls?
Gar [15:29]: knight, "they" is some person or group that hammers the market higher near the end of the day, almost day after day. I do not really know who "they" are, but it is very obvious.
nester [15:29]: then papertrade it. also keep a journal on why you bought it and what happened.
Gar [15:30]: But this has been going on for months and months. And also, volume ticks way up. I can only name it the "silent hand."
knight [15:30]: goldman sacks !, citigroup ? ....
Sandman [15:30]: I feel like it's wrong to short. Don't ask me why.
knight [15:30]: and why ?
madriver [15:30]: God
Gar [15:30]: I don't know. No way of knowing, really. But it exists, and it is real. Yesterday was a classic, Dow went from -100 to +5 in less than 30 minutes.
Gar [15:31]: Why? I have not figured that out. But it happens repeatedly.
nester [15:31]: don't think like that. the money in my wallet that i got shorting spends the exact same as that i got going long....
knight [15:31]: i think more of shorty who are covering for profit ....
madriver [15:31]: nester...agree...who cares which direction
nester [15:31]: hey mad.
Gar [15:32]: This shorting thing---the only difference is psychology. We have all been mentally conditioned to be bulls. I think that is the only difference.
madriver [15:32]: hey...nester
Andrew [15:32]: The shorts do not seem even remotely scared today. The weak shorts were probably shaken out yesterday so all who is left are the die-hard shorts who will not cover.
madriver [15:32]: gAR--definately agree with that!!!!
Gar [15:32]: Some of that bozo end-of-day rally could be short covering. But it is too persistent, with volume spikes too huge to be only short covering.
nester [15:32]: not sure Gar thinkin it is the concept of "Selling" first...
madriver [15:32]: everyone thinks of a winner as going up/appreciation!!!!!!
Andrew [15:33]: added to FAS 25.14
madriver [15:33]: that's why those stupid senators kept saying the big short...bad
Gar [15:33]: Yeah, and everyone loves a winner. As they should. However, the difference is that as a trader, you have to go with the trend. As an "investor," obviously you want stock to go up. So the solution is you have to decide if you are a trader or an investor.
knight [15:34]: some mysterious force hammering the market with a fear about euro again and again always with the same story again and again .....
madriver [15:34]: hey GAR I don't think the market will "recover today"
madriver [15:34]: there is no news out of the EU
madriver [15:34]: they played off that
madriver [15:34]: yesterday
Gar [15:34]: madriver, it might not. However, every fricken time it appears that way, they successfully jam it WAY up in the final 15 minutes. Sometimes it doesn't happen til literally the final minute.
fwguyus [15:35]: s might break out...
knight [15:35]: ... on shorty covering gar only....
madriver [15:35]: how are you doing nester?
Gar [15:35]: In fact, I'll put my money where my mouth is. Well, paper money. I will choose a bouncer to get run up from the late bozo pile-in.
nester [15:35]: mad - did well. 6 of 7 and still have one going well
nester [15:36]: you?
madriver [15:37]: lucky you
fwguyus [15:37]: s is doing some weard things
madriver [15:37]: not much today....my daughter has been sick so attending to that
nester [15:38]: lol. i got out of my FAZ calls too early. only 23%. they are now up over 50%.
Andrew [15:38]: out half FAS +0.6%
madriver [15:38]: that's insane
nester [15:38]: sorry to hear that...
fwguyus [15:38]: sprint is breaking out
madriver [15:38]: 50%
fwguyus [15:38]: hurry jump on
Andrew [15:39]: S isn't really breaking out right now
madriver [15:39]: apparent echo in the room
fwguyus [15:39]: it just went up 7 cents in one min..
Gar [15:40]: OK, XTRX is my pick for the bozo rally.
Andrew [15:40]: Oh I thought you meant it was at a new high
fwguyus [15:41]: no..i meant that its up up really fast..
Andrew [15:41]: I'm a little skeptical of the bozo rally since the attempt at 3:10pm came almost all the way back.
Gar [15:41]: I mean XRTX
ortrade [15:41]: S 1000@4.69$pe
nester [15:41]: going to hold my MAT puts overnite. up on them but i think it should continue down tomorrow
guymar [15:41]: Hello Gar, I'm new here (trial period) and I saw you are working on an enhanced version any idea when it will be ready?
Gar [15:41]: Here's how I picked it. Selected At Session Low list, then walked through the top 10 or so and noted the one(s) that usually spike up near the end of the day. And XRTX looked like the best one.
Andrew [15:42]: out 1/3rd FAS +1.7%
nester [15:42]: FAZ starting to get pounded...
Gar [15:42]: gaymar, not sure, I need to free myself up from a couple of other obligations. Once I get to it in earnest, it won't take long to produce.
Andrew [15:43]: The financials are right on the 200-day moving avg. now - it could be a battle here to see if it closes above or below
Gar [15:43]: OK, the BR (Bozo Rally) should start soon. In XRTX (papertrader), long.
guymar [15:43]: ok, should I be thinking in terms of months? roughly?
nester [15:43]: if they drive FAZ down to the 14.50 area, think i will buy $14 calls again
Gar [15:44]: Yes, roughly. It should be sometime this summer. And by the way, the price on the new enhanced version is going to get jacked way up. Unless of course you are already paid. So don't "wait" until it is released, otherwise you will pay a lot more.
guymar [15:45]: don't worry :)
Gar [15:45]: I have a great long-term short play (or puts). Gold.
nester [15:46]: these clowns are jammnig up my MAT hate that...
Gar [15:46]: The chart on gold looks exactly like the NASDAQ in early 2000.
Gar [15:46]: nester, it's the BR zone (Bozo Rally). It's about that time.
nester [15:46]: i know. i hate that when my short is going great
madriver [15:47]: if this thing goes green I will be amazed
knight [15:47]: the shorty run ... you should call it gar
Gar [15:47]: nester, for me personally, nothing is more irritating than watching your short get jammed higher.
madriver [15:47]: down -125 close
Andrew [15:47]: Considering how far we've fallen, this buying is still pretty weak.
nester [15:48]: true... the good news is that it should really fall tomorrow
Gar [15:48]: They might be waiting longer today.
knight [15:48]: the shorty run after profit ( the mysterious force)
Andrew [15:48]: out another 1/3rd FAS +1.2%
Gar [15:48]: You watch, now that I have made a big deal about the bozo rally, today it won't happen (for like the first time in weeks).
Andrew [15:49]: This last hour has been tricky to figure out.
guymar [15:49]: moby (and all of you): 60': http://chart.ly/md99qy
knight [15:49]: may be a reversal for tomorrow....
Sandman [15:49]: I'm watching XRTX.
nester [15:49]: 6 out of the 10 charts i have up are all turning at the same times
Andrew [15:50]: doubled up on FAS 25.59
moby [15:50]: guymar, try www.tinypic.com to upload the chart , use the email and IM version it is fast
ortrade [15:50]: doesnt look like market is doing anything else but trade in a consolidation once it reached a reversal point.. Given the FOMC tomorrow, the today closing level may not be good for morning shorts tomorrow..
xgap [15:51]: Hey guys just finished stockvision demo. Carr is gonna add more vocals later. Everything was performed by little oh me hope you like. go here and let me know what you think. Be nice remember I'm from TN http://www.jukeboxalive.com/player/player.php?sid=2672473&method=play
Gar [15:51]: Hmmm. I don't see the usual upside action that has happened for the last 972 days.
Andrew [15:51]: added to FAS 25.49
karenbcz [15:51]: Guy: Thanks for the chart. I can see it fine.
fwguyus [15:51]: how much money do you have to have drive print up 10 cents..50 mil
xgap [15:52]: Sorry this is picker not xgap was thinkling about changing name and forgot to change. LOL I'm at work
picker304 [15:52]: test
picker304 [15:52]: Ah thats better LOL
Andrew [15:53]: That's really cool picker.
Gar [15:53]: It's a picker in xgap clothing!
picker304 [15:53]: Have you already heard it? That was fast
picker304 [15:53]: LOL
Andrew [15:53]: I'm in the midst
karenbcz [15:53]: Pick: Who's singing?
picker304 [15:53]: Thought about stock wiz but then again I'm not one LOL
Andrew [15:53]: out 1/3rd FAS +1.1%
porti [15:54]: Cool !! My losses feel much better now
Gar [15:54]: Common XRTX, don't let me down. Don't want to be forced with a hold.
picker304 [15:54]: Thats me
picker304 [15:54]: Its all me
picker304 [15:54]: Listen carefully you guys are in it too
Andrew [15:54]: out rest of FAS +1%
karenbcz [15:54]: Pick: You're kidding! You could sing in the clubs!
picker304 [15:55]: LOL did for years
majour [15:55]: L PEIX 0.84
karenbcz [15:55]: LOL! How sweet! You mentioned the whole "family"!
porti [15:55]: Nice!
picker304 [15:55]: Gar are you listrening?
nester [15:55]: pick - lt locked up on me... did you block me? lol
Andrew [15:55]: Did you just write this today?
picker304 [15:56]: No 3 month project
Andrew [15:56]: Very impressive!
Gar [15:56]: I will look at it after the close.
porti [15:56]: just listening again and way much louder!!!!!!!!
picker304 [15:56]: Nester is it still locking up. You need a better server LOL
nester [15:57]: probably. logged into my work server...
ortrade [15:57]: perhaps vocals could be a bit louder then jukebox..
Gar [15:57]: OK I'm up 0.4% on XRTX. Should I take it? Lol.
picker304 [15:57]: I tried to put it on the board but too large
Andrew [15:57]: We're probably heading a lot lower this week. Bear/Bull is back to worse than -100 and that bounce near the close wasn't too impressive at all.
porti [15:58]: nester the contester........ great
picker304 [15:58]: ortrade vocals are very loud here 10% is norm
ortrade [15:59]: Exit S no gain/loss..
Andrew [15:59]: XRTX has actually been making a series of higher lows (barely)
porti [16:00]: Vocals are loud enough
picker304 [16:00]: porti sorry you're new or you'd been on it too
Gar [16:00]: yeah its gains are miniscule.
ortrade [16:00]: holding SKF short overnight paper sport.. lol.. Yesterday the overnight hold made ~700$pe..
Gar [16:00]: (XRTX that is)
Sandman [16:00]: gar I'm not going to say a word.
Gar [16:00]: I think we might have a weak bounce in the AM.
Gar [16:01]: Well Sandman it did make a move, albeit a much smaller one than I expected.
picker304 [16:02]: Hey guys you need to check out my aroon special I made 4% today using it .It really does work and when Gar adds them to the master screener it will be awesome
Andrew [16:02]: What stocks did you use it on today picker?
picker304 [16:03]: DAN and F and ATPG
fwguyus [16:03]: gar can you please add pickers arron screener..
Gar [16:03]: hey picker, I wonder why our trials have suddenly plummeted? Could it be the market? A lot of people get spooked when there is downside.
picker304 [16:03]: Andrew really works good for shorts
picker304 [16:04]: fw he will when he gets the powerversion finished. Takes time
fwguyus [16:04]: cool...
picker304 [16:04]: Gar I think it have to be.
Gar [16:05]: fwguyus, it is not as simple as that. At least not in this version. The "powerscan" version will definitely have it.
moby [16:05]: and a time stamp too for the powerscan version just like when the traps appear
Sandman [16:05]: I get spooked when the market goes down. But I still watch to see what nester and Andrew are doing.
Gar [16:05]: Yeah that will be there too (the timestamp).
picker304 [16:05]: Also I am sorry I haven't been here to take care of trials. Hope things slow doen here soon so I can get back to work LOL
fwguyus [16:05]: sorry guys for the much exicetment from me over sprint...
fwguyus [16:06]: i just wanted everyonen to make a buck..
moby [16:06]: so we know what time it alerted, because then maybe we'll be able to sort it that way just like in traps
moby [16:06]: yippiiee
picker304 [16:06]: fw until he gets it completed just set up one with your charts
porti [16:06]: @gar did you solve the problem with the chartloading? I didnt have any problems recently
moby [16:06]: yeah he did posted above will see if it holds
porti [16:07]: ah ok missed that
Gar [16:07]: porti, I think so. I have tried 3 different fixes, one each night, and the one I applied last night appeared to do the trick. I will know for sure if it holds for a few more days.
porti [16:08]: nice, good work!
Gar [16:08]: The fix I applied last night is to shorted the timeout for "keep HTTP alives." So what I think was happening is that all the users would be paging through the charts, and the "keep alive" would lock up the server after too many people were accessing charts. I think this will make sense to you.
porti [16:09]: yep, it does that would mean to much session would be open
Gar [16:09]: Since I made that change, I have not seen any significant slowdown all day, even at the peak periods.
Gar [16:10]: I will probably shorted it even more to make sure. Changed it from 120 seconds to 20 seconds.
porti [16:10]: so the sessions get killed earlier and frees up space, and maybe also some memory too
picker304 [16:10]: Anybody seen bulldogchip rw or carr today?
Sandman [16:10]: Gardo you have a list of Hot Stocks Now for 7/11/10? I forgot to copy them that night.
Gar [16:10]: Yes porti, that was my theory. And it appears to be right. (Lol no one here probably has any idea what we are talking about).
porti [16:11]: ..makes sense to me, buy sql
porti [16:11]: lol
LEECO [16:15]: Picker I went to the 8:20 today post to view the macd item and it would not access on link?
fwguyus [16:15]: Looks like VVUS and VCLK may gap up in the moring....
picker304 [16:15]: Um let me check LEECO
picker304 [16:16]: Well thats the second time the boards went down. I'll see if I can fix it.
porti [16:17]: @gar about session handling, we had a customer recently with a simililar issue and it turned out that it would be the internet modem that couldnt handlle more then 500 sessions a time.
picker304 [16:17]: LEECO it may be where I tried to upload the large music demo. Might have blown up LOL
Gar [16:18]: picker....I just listed to your song. I am....flabbergasted! Lol, what on earth made you create this? It's great. We ought to add some video to it for the web site.
fwguyus [16:19]: S has a really weard looking Daily chart
picker304 [16:19]: Lets do it but I suck at video. Do what you want with the demo its your gift. I can never thank you enough
picker304 [16:20]: Gar.. but if you ever boot me off I'll sue you for using it LOL
Gar [16:21]: Well I will think of what we can do with it. I am besides myself.
picker304 [16:21]: Know the feeling way I was the first day I arrived here
Gar [16:21]: We can handle the video. What format is the song in? Is it an MP3? Or something else?
picker304 [16:22]: Gotta run soon. Dang Gar wish I could do this for a living too LOL
Gar [16:22]: picker, we will all win if this business can be ramped up. That's what the advisory board is suppose to be. When we finally start it.
porti [16:23]: If you put the song on your server, it will crash.....because of too much listening
Gar [16:23]: Yeah porti, and it will slow down charts...LOL.
picker304 [16:23]: Gar mp3
porti [16:24]: This should be played every market open
Gar [16:24]: porti, I won't celebrate the chart fix until it goes smoothly for a couple more days. Today could have been a fluke, like less load. But I am optimistic.
Gar [16:24]: picker, mp3, that's perfect. We should be able to integrate a video.
picker304 [16:25]: Dang guys and I meant well lOL
porti [16:25]: As i was saying before, the Modem just started to reboot on its own, because of too much connections and we needed to replace it. So maybe it also could be a problem besides the server itself, router, gateway, firewall they all handle sessions....just in case problem returns
picker304 [16:25]: porti thanks for the compliment
porti [16:25]: sorry routers dont handle sessions, stupid nonsense
Gar [16:25]: Alright porti. That's good info to know. But one thing I am convinced of, and that is the source of the problem---which is too many sessions open.
Gar [16:26]: And the reason it hasn't shown up til now is because now we have more users.
porti [16:26]: yep, if nothing helps ban some users.... :-)
porti [16:27]: start with me, i am a evil chart addict
Gar [16:27]: Lol yeah, like that will work. But if this thing explodes, we will have to start upgrading the server. I can think of worse problems.
Gar [16:27]: To be honest, I do not know how many users it can handle. That is unknown.
Gar [16:28]: But obviously there is a limit.
porti [16:30]: If you ever get a chance where sql can help you in the backend..do it! And Server 2008 rocks too. You can analyse eveyrthing on that machine, and problems like this would show up in the logs. Thats where i live!
porti [16:31]: @picker304 i was a sound engineer for 6 years, and i know how hard it is to record a song. Briliiant work! You have a own recording studio?
Gar [16:31]: That's probably where we will go. But the prerequisite is to ramp this business up. WHERE ARE THAY? You would think the entire trading world would be pounding my door down to get this stuff. But nnnnoooooo! In fact, some bozo emailed me yesterday asking how to "uninstall StockVision." People piss me off sometimes.
porti [16:32]: WOW uninstall SF, did you ask him how he installed it?
Gar [16:33]: Well I told him there is no such thing because the "installation" IS the program itself. Because it is efficient and small. The point is that there is actually someone who thought so lowly of the product they wanted to remove it. I said just delete it.
porti [16:33]: Yeah business, just thinking if i can be a help with translation, if you ever want to have a german language option
Gar [16:34]: Maybe. What I will need however is a Chinese version sometime next year. Or late this year if things go well.
porti [16:34]: but most or all traders talk english, accept the chinese
DJalecC [16:34]: Gar, are you running as windows server?
Gar [16:34]: China has 200,000,000 traders.
porti [16:34]: except
Gar [16:35]: Yes DLalec, a Windows 2003 server.
Gar [16:36]: The server has been rock-solid until that recent issue with charts slowing to a crawl. But as I mention, I believe that has been fixed.
Gar [16:37]: Hey I gotta take off. See everyone tomorrow.
DJalecC [16:37]: ok, sorry, I have redundent server space but linux.
porti [16:37]: yep, worked good today, dont change it. But today all charts looked the same anyway
porti [16:37]: :-)
picker304 [18:22]: Hey all check out our new SV theme song. Enjoy http://www.jukeboxalive.com/player/player.php?sid=2672473&method=play
Andrew [18:46]: May 18 (Bloomberg) - The SEC filed proposed rules under which exchanges would halt trading in individual stocks that swing more than 10%. The circuit breakers...would be triggered in all markets by gains or declines over five minutes in S&P 500 companies...
Andrew [18:47]: http://www.bloomberg.com/apps/news?pid=20601087
Andrew [18:47]: The proposed rules are subject to SEC approval after a 10- day public-comment period. Regulators plan to consider expanding the circuit breakers beyond S&P 500 stocks, including to exchange-traded funds.
Andrew [18:48]: It seems interesting that if a stock goes UP 5% in 5 minutes it would also be halted apparently.
Andrew [18:51]: It also seems like this rule could make many breaking news trades, short squeeze trades, and even huge trap door trades a lot more difficult.
Andrew [18:54]: My 18:48 post should say 10% not 5%
bulldogchip [19:12]: picker that song is great!
picker304 [19:32]: Thx bulldog hope no one gets offended its all in fun
JayBird [19:33]: picker.....awesome song....you are multi talented :-)
bulldogchip [19:45]: hey pick, got your email and am going to work on backtesting tonight, thanks!
JayBird [19:53]: Tomorrow morning, two economic reports are scheduled to be released before the open: 1) Core CPI (Consensus 0.1%) and 2) CPI (Consensus 0.1%).
Tomorrow before the open look for the following companies to report: ABMD, BJ, BRC, CHS, CTRN, DE, DHT, EV, GSOL, HRL, RL, TGT, and YTEC.
JayBird [19:55]: color test
JayBird [19:56]: S&P making new lows in afterhours
Andrew [19:56]: Oh wow - it's down almost another whole 1%
Andrew [19:57]: Was there any news?
JayBird [19:57]: FAZ at high of day
JayBird [19:58]: baby Andrew...you gotta listen to picker's custom song..it's a hoot
Andrew [19:59]: lol, yeah I heard it when he posted it before the close. He has a ton of talent.
JayBird [19:59]: Picker's song http://www.jukeboxalive.com/player/player.php?sid=2672473&method=play
bulldogchip [20:39]: Gar.......KO (Coca Cola) not in SV?
picker304 [20:45]: Hey bulldog
bulldogchip [20:46]: hi pick, how are you?
picker304 [20:46]: Did you get the aroon chart the reason I ask is the board went down. I'll fix tonight and leave new address around 10:30 est
bulldogchip [20:46]: yes i go tyour email, and i tried the chart but it was down, i will keep checking, thanks
picker304 [20:47]: sorry about that. I'll have a new board tonight I'll send it to your email ol cuz
bulldogchip [20:48]: that would be great, i'll be checking....loved the song
picker304 [20:48]: Thx cuz I liked the bulldog part LOL I'm at work until 9:30 I'll grab a bite at 10 and be on at 10:30
bulldogchip [20:50]: ok great see you then
picker304 [20:54]: Karen Can't get here until 10:30 hopes that ok
Iswing64 [20:55]: Picker 304 love the song man.. great job..Why do you trade stocks?..lol
picker304 [20:58]: Hey swing Iswing you swing LOL
picker304 [20:59]: Hey if I cut you short waiting on a student ok?
Iswing64 [20:59]: sure
picker304 [20:59]: I just finished it and had to let all hear it. Its been in the making for 3 months
Iswing64 [21:00]: I think it's great love it.!!!
picker304 [21:00]: Thx I'm also in the process of uploading some more of my original instrumentals. Hope you listen to those.
Iswing64 [21:01]: For sure i will cuz
picker304 [21:01]: I'll try to find of the ol rock vibes for you LOL
picker304 [21:01]: some
Iswing64 [21:02]: YESSS...Make me a remake of dire straights sultans of swing...with everyone from stovk vision
Iswing64 [21:03]: like you don't have enough to do lol
picker304 [21:03]: Oh that'd be cool. That might be a cool project.
picker304 [21:03]: Love that song
Iswing64 [21:04]: And hanky doesnt mind.....if he doesn't make the scene....
Iswing64 [21:04]: lol
picker304 [21:04]: LOL I think carr is gonna re sing the SV theme. I hear hes a great singer. Hey gotta run. Be back around 10:30 EST
Iswing64 [21:04]: don't get me started..lol
Iswing64 [21:04]: ok
picker304 [21:45]: Karen and bulldog here is the aroon explanation http://www.stockvisions.proboards.com/index.cgi?board=general&action=display&thread=2
picker304 [21:47]: Hey andrew man thats some bad news you left haven't had to time to read but planning on doing so right after supper
Andrew [21:48]: I actually don't think it will be as bad as I had thought. It's not too common for a stock to move 10% within 5 minutes.
Andrew [21:49]: Only if there's a buyout rumor or FDA approval or something like that for the most part.
picker304 [21:49]: Ok haven't read it has to m ove 10% within 5 minutes correct?
Andrew [21:49]: Yes
picker304 [21:50]: Might cause minor squezze sometimes but could be worse whew
Sandman [21:50]: Andrew Hi, Is the bid and ask price on an ETF the same as stocks?
Andrew [21:50]: TIVO on Friday would have been halted since it dropped 10% in 5 minutes
Andrew [21:51]: Yes Sandman
picker304 [21:51]: Oh yes you're right You know thats good for us and drug stocks shut them suckers down LOL
Andrew [21:51]: In one 5-minute stretch TIVO actually dropped more than 33%
picker304 [21:51]: Sorry
Andrew [21:51]: That's not too common
Andrew [21:52]: But if a stock goes up 10% in 5 minutes it will be halted as well
picker304 [21:53]: Yes I know I averaged down or I would of lost my tail. It just kept diving
Andrew [21:53]: I shorted TIVO right near the open and it worked perfectly today.
picker304 [21:54]: Great! It dropped to 10.07 ????
Andrew [21:54]: The buying volume in the first 5 minutes with TIVO was horrible compared to the volume near the close on Monday so it suggested a lot of people didn't believe in the gap up and there could still be a lack of buyers up there.
Andrew [21:55]: It actually went down to 9.93 (from stops being taken out), but there were lots of buyers down there in the morning.
picker304 [21:55]: Makes alot of sense. thats what I was afraid of but got lucky with it
Andrew [21:55]: I was able to get short at 10.52
picker304 [21:56]: You killed it man!
picker304 [21:56]: If they win this round it will shoot to the moon. A person should watch it close for a while for a long
picker304 [21:56]: It actually dropped where it was before the last news
Andrew [21:56]: I also liked how it gapped up right near the area of resistance from Monday's last hour (10.54). It stalled out today at 10.55.
picker304 [21:57]: really didn't watch it. May sleep for a few days now but we should watch
Andrew [21:57]: It also failed to participate much in the big rally of Monday afternoon too. There were a ton of arguments to short it. A near-perfect setup.
picker304 [21:58]: It amazed how quick the news plummeted it. i mean in minutes LOL
picker304 [21:58]: me
picker304 [21:58]: Of course insiders had heads up
Andrew [21:58]: Yeah, you don't see that too often unless the news is extremely significant to the company's future earnings.
picker304 [21:59]: yes
picker304 [22:00]: And theres still a very good chance they'll win again. I'm tempted just to lay acouple thousand in its bed and let it nap on it. After it reaches good support.
Andrew [22:00]: The good thing for shorter-term traders with TIVO was that the whole market had been selling off earlier in the month, so people might have had cause to take profits from that once it dropped below 16 on 5/6 and 5/7.
picker304 [22:01]: You know if they were to lose you could make a mint with your shorting techs. It will probably drop to 4ish
Andrew [22:01]: I guess it's kind of a gamble, but at the same time since it's already been hammered so much the potential upside is probably a bit better than the potential downside.
picker304 [22:03]: true for now. possibly good sleeper
Andrew [22:04]: RMBS is another one that used to often make huge intra-day moves due to court cases.
picker304 [22:05]: Man those stocks can make or break you quick
Andrew [22:06]: Yeah. Volatility cuts both ways.
picker304 [22:06]: So Andrew if a stock drops 9% in 5 minutes and 9% in the next five the new rule would not apply?
picker304 [22:07]: That wouldn't make sense would it?
Andrew [22:07]: I think they would consider every possible 5 minute intervals (e.g. 9:37-9:42, not just 9:35-9:40 and 9:41-9:45)
picker304 [22:08]: Oh I see but if theres a gap I guess thats ok huh? No closing of the store?
Andrew [22:08]: Yes the gaps are fine I think. In fact the halts are for just a few minutes I think and it will probably just result in a new gap intraday.
picker304 [22:09]: Man sounding better all the time keep talkin lol
picker304 [22:10]: Man that would mess up my gap down plan big time
karenbcz [22:10]: PICK .. sorry I'm late for class!
picker304 [22:10]: LOL me teach a stock class?
karenbcz [22:11]: the aroon oscillator. remember?
Andrew [22:11]: I think the biggest effect will probably be on penny stocks since they can move 10% a lot easier.
Sandman [22:11]: Hi karenbcz, Do you do any ETF's
picker304 [22:11]: Yes hang on a minute
Andrew [22:11]: Like with ABK today.
karenbcz [22:11]: i used to.
karenbcz [22:11]: I made a ton on FXP 3 yrs. ago.
karenbcz [22:11]: Next market rally, I'm gonna buy FAZ
picker304 [22:12]: Karen go here. I'll wait a few and see if you have any ? http://www.stockvisions.proboards.com/index.cgi?board=general&action=display&thread=2
karenbcz [22:12]: SAND: whatcha lookin' at?
Sandman [22:12]: ERY
Andrew [22:12]: ABK would have been halted near 1.09 today I think.
picker304 [22:13]: Andrew thats ok I don't like em oh no I'm gonna make Karen mad at me LOL
karenbcz [22:13]: Is this aroon setup on SV or other software?
Andrew [22:13]: Gar's adding it to the next version of SV.
picker304 [22:13]: Karen do you use your own charting system?
picker304 [22:13]: whos your broker?
karenbcz [22:14]: Yes. I've got stockfetcher, Think or Swim and Freestockcharts.com
picker304 [22:14]: Just setup your chart with aroon and macd
karenbcz [22:14]: aroon is the oscillator?
karenbcz [22:14]: i'm gonna go open my Freestockcharts right now.
picker304 [22:14]: yes and macd read the setup in the board and backtest.
picker304 [22:15]: ok
karenbcz [22:15]: Is it aroon UP/DOWN 14???
picker304 [22:15]: yes
karenbcz [22:15]: chart is in what time frame??
karenbcz [22:16]: give me a stock as an example.
picker304 [22:16]: I use 1 minute but you use any time frame. back test and you'll see
karenbcz [22:16]: just so we're looking at the same thing.
karenbcz [22:16]: :>)
picker304 [22:16]: ok hang on
karenbcz [22:16]: the green has to be below ?? 10 or what?
karenbcz [22:17]: my aroon UP is the green.
karenbcz [22:17]: is that how yours is set?
karenbcz [22:17]: ya' know honestly, I just don't know how you use that. the line is too long.
Andrew [22:17]: Sandman, have you been considering trading ETFs?
picker304 [22:18]: did you open the attachment on board?
karenbcz [22:18]: oh yeah, SAND ... whatcha looking at in terms of ETFs?? I think FAZ is the best.
Sandman [22:18]: yes
karenbcz [22:18]: PICK: you mean the instructions?
picker304 [22:19]: yes but you need to open the attachment directly below the instructions
picker304 [22:19]: It gives you visual
karenbcz [22:19]: I've got to login to download
Andrew [22:19]: I just wanted to caution you about trading the triple ETFs like FAZ/FAS, ERY/ERX, TZA/TNA, etc. It can be a lot easier to lose money with them than gain money from them. Paper trade them a ton before you trade them for real.
Sandman [22:19]: karenbcz ERY looks good to me. Why is FAZ better?
karenbcz [22:20]: SAND: I think FAZ might give a better return than ERY. I dunno.
karenbcz [22:20]: let me check.
Andrew [22:20]: With ERY and ERX you are kind of trading a commodity too (oil), so those can be more difficult to trade unless you're monitoring the price of oil too.
karenbcz [22:20]: FAZ up 8.8% today; ERY only up 2.6%
karenbcz [22:20]: there ya' go!
Sandman [22:21]: Andrew on the bears they are all 2x and 3x.
Andrew [22:21]: The financial sector over the past couple of years has been the most volatile so you can have the biggest gains from FAS/FAZ (but at the same time you can also suffer the biggest losses from them too if you aren't very careful with your risk management).
picker304 [22:22]: Hello Karen are you finished
karenbcz [22:22]: just a sec ...
Andrew [22:22]: I think the bear ETFs are genearlly all 2x or 3x.
Andrew [22:22]: generally
Snappy [22:23]: V
Andrew [22:23]: BGU/BGZ track large-cap stocks. TNA/TZA track small-cap stocks, ERX/ERY track energy stocks, and FAS/FAZ track financial stocks.
karenbcz [22:24]: should i show my age? LOL!
picker304 [22:24]: Andrew DAN 9:48 green aroon falling with red vol bar appearing and macd falling below 0 look at fall after
Sandman [22:24]: Snappy Hi, I'm trying to watch V and listen to you guys at the ame time.
Sandman [22:25]: karenbcz we love you no matter what your age is.
Andrew [22:26]: Why not 9:41 ?
Snappy [22:26]: Sorry the v was my little guy.
picker304 [22:27]: Andrew like to see confirmation of macd below a little thin at that point
Andrew [22:28]: Ok I see.
Andrew [22:28]: That's annoying how DAN came back a 3rd time around 11:20am but at least it didn't make a higher high.
picker304 [22:29]: yes
picker304 [22:30]: Where'd she go?
karenbcz [22:31]: Ahhhh! you're using aroon(25)!
picker304 [22:32]: no karen I use 14 but you can experiment
karenbcz [22:32]: chat has 25
karenbcz [22:32]: chart
Andrew [22:32]: I really like the strategy because by its nature it gets you long/short at a decent price.
picker304 [22:33]: Well ok thats not my chart service just an example. So it works on 25 too cool
karenbcz [22:33]: Great ! thanks PCIK!
karenbcz [22:33]: PICK!
picker304 [22:34]: LOL you're welcome Karen I've been called worse LOL
Sandman [22:34]: Aroon 9 period goes with the MACD.
picker304 [22:35]: I sure thank swing for telling about aroon
picker304 [22:35]: Andrew you're right its like a real crystal ball 70-80% of time
picker304 [22:36]: Sandman may have to try that
Andrew [22:36]: It turns out I had kind of been using that strategy sometimes before I ever heard of aroon. It was kind of cool.
picker304 [22:37]: Oh man I left Sandman off of demo. We'll have to make sure and get you in the next cut. Its hard to remember everyone dang I feel bad!
karenbcz [22:37]: PICK: oh yeah! that's a real nice indicator.
Andrew [22:37]: My win % and winning trade size tends to get really high in volatile markets and currently the VIX is above 33, so it's my kind of market at the moment.
picker304 [22:38]: Karen think you'll use it?
Andrew [22:38]: I was struggling in late March and early April though with the low volume and volatility.
karenbcz [22:38]: that chart's telling me I should NOT have bought FMER today.
picker304 [22:38]: let me check
picker304 [22:39]: long at 13:03
picker304 [22:39]: short at 9:40ish
karenbcz [22:40]: that's interesting ... I DID go long @ 1:10PM today.
picker304 [22:40]: long at 10:58
karenbcz [22:40]: i also went long at the CLOSE.
picker304 [22:40]: let me check 1:10
Sandman [22:40]: What period are you useing?
picker304 [22:41]: Long at 1:06
karenbcz [22:41]: i'm using hourly on freestockcharts
Andrew [22:41]: period = 14
picker304 [22:41]: 1 minute
picker304 [22:41]: sorry 14
picker304 [22:42]: use 1 or 5 and check it out
Andrew [22:42]: Do you also do it with swing trades on the daily chart?
karenbcz [22:42]: ohhhh ! sweet!
picker304 [22:42]: I go for 2% in minutes if possible.
picker304 [22:43]: andrew Yes I have backtested but just daytrade
picker304 [22:44]: Hey here something else I've noticed you guys will like this
Andrew [22:45]: When you say back-tested, what was the start date of your tests?
picker304 [22:46]: through back test most gap down stocks will continue down until lunch after pullback IF GAP IS NOT FILLED which hardly ever happens. I backtested and each one could of been shorted for 4% or more if held until lunch
picker304 [22:47]: I went back three weeks making sure to cover up down and sideway markets
Andrew [22:47]: That's a great observation.
picker304 [22:49]: I'm gonna try one of those tommorrow wish me luck
Andrew [22:50]: The strategy with the longs might work even better in periods of extreme bullish sentiment too since the last few weeks haven't been too bullish at all.
picker304 [22:51]: Yes andrew you would think so but it seems lunch time is the kick back in either market personality
picker304 [22:52]: We should get together as ateam and all trade a small position in these and see what happens. I really think we can do amazing things as a team
Andrew [22:52]: A lot of institutional algorithms don't do as much of their buying/selling during lunch time due to the lighter volume. Then high frequency trading and automated market makers can be more dominant.
Andrew [22:54]: Lots of algorithms also tend to cause interesting price action around the whole hour numbers - esp. 10:00am, 12:00pm and 3:00pm.
picker304 [22:54]: Maybe thats it
picker304 [22:54]: Karen are you here?
karenbcz [22:55]: yes.
picker304 [22:55]: Are you back testing?
karenbcz [22:55]: no. i'm reading about the coming economic collapse.
picker304 [22:55]: LOL
Andrew [22:56]: I always watch for market reversals near 10:00am, 12:00pm, 3:00pm, and 3:30pm because they tend to happen pretty frequently.
picker304 [22:56]: Karen dear stocks will always go up and down no matter what. don't worry about. Make your money in any market
picker304 [22:57]: yes I notice that too Andrew
Andrew [22:57]: In the long run it hasn't paid to be bearish on the U.S. economy.
karenbcz [22:57]: yes picker. i just have to be on the right side ... which IMHO will be the SHORT side.
Andrew [22:58]: But you can be bearish in the short run and make a ton of money.
karenbcz [22:58]: Andrew, I was very impressed with your FAZ trading today.
karenbcz [22:58]: Outstanding!
karenbcz [22:58]: $$$
picker304 [22:58]: Ok green aroon falling macd falling below 0 Go get em girl
karenbcz [23:00]: pick: I'm gonna use the aroon oscillator in lieu of the MACD. it look like the MACD.
Andrew [23:01]: Thanks. They have been a lot easier than I expected. Having to trade in a low volume, low volatility trading environment for several months forced me to start worrying about getting good entries more (something I never had to learn in 2008 to mid-2009), and it made me a much better trader. Now I'm applying my newfound focus on entries to the type of market I'm most experienced with, and it has gone almost perfectly so far.
picker304 [23:03]: I must agree Karen if I chose one it would be the macd. Its the best I've ever used. Its just the aroon gives a little more assurrance
Sandman [23:03]: I'm going to try the combo ( MACD & Aroon).
Sandman [23:04]: But I'm not a day trader, I'm a swing trader.
picker304 [23:05]: back test it Sandman like I have. IT WORKS BIGTIME. I sure hope some of my SV friends uses the idea. Why do you think I'm spending time tellin you about it. I care about you guys
karenbcz [23:05]: hmmmm ... actually, the MACD does work better than the aroon oscillator. Okay, ... so! MACD and aroon it is!
Andrew [23:05]: Sandman, just a caution about the triple ETFs - they aren't intended to be held overnight for a long period of time (they tend to naturally decay).
picker304 [23:06]: RSI is good too it lets you know if areas are overextended predicting amount of possible trend
karenbcz [23:06]: Right SANDMAN. Those Proshares ETFs will KILL you if you try to swing trade 'em.
Andrew [23:06]: I've written an article on them for a friend I can email to you if you want.
Sandman [23:08]: The reason is I have only $13,000 in my account and I think you need more than $25,000 to day trade.
Andrew [23:08]: Yes. That means you can only do up to 3 day trades within a 5-day period.
Sandman [23:09]: I started with $9,200. Not bad so far.
Andrew [23:09]: Excellent job growing your account.
picker304 [23:11]: Good job Sandman
karenbcz [23:11]: gotta go. see you guys tomorrow.
Sandman [23:11]: And my wife told me I was going to lose it all.
picker304 [23:11]: Can't listen to anyone when it comes to your dreams not even your wife
Andrew [23:12]: Yeah, trading is very risky. Only use money you can afford to lose.
Sandman [23:13]: I'm doing it more as a hobby than for the money. Have to have something to look forward too!
Andrew [23:13]: I like it as a hobby too. It seems like one that could last your entire life.
picker304 [23:14]: Good luck everyone see you a little tommorrow
Andrew [23:14]: bye
Sandman [23:15]: Goodnite picker304, I'm going too. See you all tomorrow.
Jake [23:37]: Well, I'm stumped. I have no idea what aroon is. Can someone help me out?
picker304 [23:39]: Hello Jake
picker304 [23:41]: Go here http://www.stockvisions.proboards.com/index.cgi?board=general&action=display&thread=2 and I'll wait a bit in case you have ?
Andrew [23:46]: Goldman Sachs Advice Hands Clients Losses in 7 of 9 Top Trades... http://www.bloomberg.com/apps/news?pid=20601087&sid=aq1TZHxNGpWU&pos=3
picker304 [23:46]: ooh Andrew
Andrew [23:47]: Maybe their clients should be using StockVision instead
picker304 [23:47]: got that right. Man don't you wish we could get to them
Andrew [23:49]: Jake, aroon is kind of like ADX except there is an upper limit.
picker304 [23:53]: for some reason hes having a problem viewing the board. says he had to register. Don't know why no one else had to
picker304 [23:53]: Sometimes the internet world can be a pain in the ol backside
Andrew [23:54]: Attached images cannot be viewed unless you register.
Andrew [23:54]: I can host it on my site if you want.
picker304 [23:54]: um Andrew I thought I had that turned off oh well. Do it Andrew that'd be great
picker304 [23:58]: Andrew know anything about trade statiion?
Andrew [23:58]: I haven't used it before due to the commission cost. I think Gar uses it?
picker304 [23:59]: Just wionderin if it has aroon indicator
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