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Forum date: 05-20-10
JayBird [5:41]: Economic
08:30 US Initial Jobless Claims, Continuing Claims
10:30 US Natural Gas Inventories
10:00 US May Philadelphia Fed
10:00 April Leading Indicators
13:00 US Treasury note announcement
Earnings
Before the Open: BONT, CATO, PLCE, CSC, DLTR, GME, MF, PDCO, ROST, SFL, SSI, SPLS, SMRT, BKE, TDW, TTC
After the Close: ARO, BRCD, CPWR, FMCN, FL, GPS, INTU, KONG, MRVL, NDSN, PSUN, RRGB, CRM, VRGY, WTSLA, ZUMZ
LEECO [7:14]: Good Morning JB-where's nester-Indexes in Europe &Asia down oil is $68+ gold & silver down-stocks trading in Europe are also running in the red.
nester [7:32]: morning Leeco - a little late start for me...
LEECO [7:32]: Welcome
nester [7:32]: NEW YORK (AP) -- Stock futures fell Thursday as investors keep an eye on the European debt crisis and get a key domestic report on weekly jobless claims.
The Labor Department's unemployment report is expected to show new claims for jobless benefits dipped modestly, indicating a recovery in the jobs market is slow.
But if recent trends hold, investors will focus more on the health of Europe's economy than the ongoing domestic recovery. The euro fell again, and continues to hover near four-year lows. The currency, used by 16 countries in Europe, has become a key indicator of confidence in the continent's ability to contain growing debt problems in countries like Greece, Portugal and Spain. The euro fell to $1.2333, a day after touching a four-year low of $1.2146 on Wednesday.
Movements in the euro have largely dictated the movements of stock markets globally in recent weeks. Major European indexes gave up their morning gains Thursday as the euro retreated.
nester [7:33]: WASHINGTON (AP) -- Two weeks after the stock market's epic dive, federal regulators and U.S. securities exchanges have a new plan to keep it from happening again, proposing that essentially markets call a "time out" when trading gets too chaotic.
The question is whether it will work. The big stock exchanges say that new curbs on trading known as "circuit breakers" will help prevent runaway market drops. But not everyone is convinced. To some market watchers, the rules are too limited. To others, the rules go too far.
The government's two top market regulators are appearing before a Senate panel Thursday in the aftermath of the wild trading day that stunned Wall Street, and Washington, on May 6. Mary Schapiro, chairman of the Securities and Exchange Commission, and Gary Gensler, head of the Commodity Futures Trading Commission, will testify at the hearing.
nester [7:33]: TOKYO (AP) -- Japan's economic engine accelerated in the first quarter, with red hot growth in China spurring a broadening recovery.
Real gross domestic product grew at an annual pace of 4.9 percent in the January-March period, the government said Thursday. The figure marks the fourth straight quarter of expansion but misses Kyodo news agency's average market forecast for annualized growth of 5.6 percent.
Still, the results are solid and reflect how the country is benefiting from a surging Asia and China, which is poised to overtake Japan as the world's No. 2 economy sometime this year. The robust export demand has given Japanese companies the confidence to raise factory output and plan for bigger capital investments.
nester [7:33]: ATHENS, Greece (AP) -- More than 20,000 protesters marched to parliament Thursday, as unions challenged harsh austerity measures in Greece by staging their fourth general strike this year.
Riot police held back demonstrators chanting "Thieves, thieves!" Store owners closed up and lowered protective shutters before the march got under way.
Police deployed 1,700 officers and detained 36 people in an early show of force after violent protests two weeks ago left three people dead in a bank fire.
The strike closed schools, halted ferries and trains, and kept hospitals running on emergency staff. The Acropolis and other ancient sites were also shut.
nester [7:34]: LONDON (AP) -- European stock markets steadied Thursday following the previous day's losses while the euro clambered up from four-year lows. Sentiment remained subdued by ongoing concerns over Europe's government debt crisis and the political response to it.
In Europe, the FTSE 100 index of leading British shares was 44.37 points, or 0.9 percent, higher at 5,202.45 while Germany's DAX rose 11.59 points, or 0.3 percent, to 6,000.26. The CAC-40 in France rose 26.85 points, or 0.8 percent, at 3,538.52.
A subdued opening was expected on Wall Street after Wednesday's late rally saw U.S. stocks trim a large chunk of their earlier losses -- Dow futures were down 3 points at 10,402 while the broader Standard & Poor's 500 futures rose 0.3 point at 1,110.20.
nester [7:34]: The rich may be different. But they could also be a leading economic indicator.
The corridors of wealth and finance are alive with new optimism. The Federal Reserve, though, doesn’t seem to share it. The central bank has not indicated any intention of raising interest rates soon. The trouble is, if the Fed is behind the game, there’s a good chance everyone will suffer.
All seems well indeed atop the food chain. Whole Foods, purveyor of richly priced organic onions and other groceries, last week raised its best estimate for same-store sales growth this year to as much as 7 percent from as little as half that. Its shares have gained 45 percent this year, while those of price-conscious Wal-Mart are down a bit.
nester [7:35]: Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
http://finance.yahoo.com/news/Zacks-5-Rank-Additions-for-zacks-1630224927.html?x=0
nester [7:35]: Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
http://finance.yahoo.com/news/Zacks-5-Rank-Additions-for-zacks-1630224927.html?x=0
nester [7:37]: U.S. stocks fell Wednesday as Germany's move to ban some naked short-selling fueled a fresh wave of worry about financial regulation.
The Dow Jones Industrial Average shed 66.58, or 0.6%, to close at 10,444.37. The S&P 500 fell 0.5% and the Nasdaq lost 0.8%. The CBOE volatility index, widely viewed as the best gauge of fear in the market, was just shy of 35 at the closing bell.
European stocks ended at their lowest level in nearly two weeks, led by banks, amid rising tensions over Germany's ban on some naked short selling on Tuesday and the impact of Greece and other nations with heavy debt loads on the European Union.
nester [7:39]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Wednesday's session are Dell Inc., GameStop Corp. and Staples Inc.
Sandman [7:51]: Good morning JayBird,LEECO,nester. If you hold a stock or ETF over night is that considered a swing trade or day trade? Or does it go by 24 hours?
nester [7:52]: Sandman - a daytrade consists of a buy / sell within the same trading period. since it is the next period, it is considered a swing by definition
Sandman [7:53]: Thank you nester.
LEECO [7:53]: morning Sandman
nester [7:55]: the daytrading rule is a rolling 5 day period. as long as you keep track, don't worry about it. and your account has to be above $25k to be exempt
bobCa44 [7:55]: The problem with ETF and day trading is that most are not marginable
nester [7:56]: correct. if FAZ is going a bit too fast for you, try something like SSO/SDS there many that are not 3x ETF's
Sandman [7:58]: Well if I'm right FAZ should keep moving up. Because the moveing avg. on the MACD are moving up.
Paul Tyler [7:58]: How may I contact GAR from StockVision?
nester [8:01]: go to the website and select "Contact us" http://www.garsworld.com/Contact.asp
nester [8:02]: Sandman - it should. this is a ticker that can move tons in both directions. just look at yesterdays movement. it was down then up, down, way up, flat and then closed just a little up...
wiz [8:04]: hello
nester [8:05]: morning wiz - are you new here?
DJalecC [12:05]: morning all :-)
wiz [8:06]: no just changed my screen name to shorter name
nester [8:07]: morning DJ
DJalecC [12:08]: morning nester
nester [8:08]: Sandman - look at FAZ now. currently at 15.49
Sandman [8:09]: Yes I know. But Andrew said not to pay to much attention to after hours.
nester [8:09]: are you in stock or options?
wiz [8:09]: sandman that minus has turned very postive for you!!!
Sandman [8:11]: nester was tat question for me?
Sandman [8:11]: that
nester [8:11]: yes it was
Sandman [8:11]: I don't do options.
nestor [8:11]: options
nester [8:12]: well, you are able to sell the stock in premarket pull a one min chart and watch for a big turn.
DJalecC [12:12]: i'm still holding FAZ :-O
nester [8:13]: i am too DJ have $16 calls
DJalecC [12:13]: but can not sell, stock only, and my UK broker dont do out of hours! LOL
DJalecC [12:13]: in fact my broker is shite, need to find another one.
nester [8:14]: that is correct. can't sell options in premarket stock, yes
picker304 [8:14]: Good morning nester Sandman wiz and all
madriver [8:14]: DJ....that was offensive
Sandman [8:14]: Hi picker304
DJalecC [12:14]: not got a clue what a call is, except when my phone rings... LOL
nester [8:14]: hey pick & mad
madriver [8:14]: futures don't look good right now
madriver [8:15]: hey...good morning all
nester [8:15]: mad - i have that paper written
madriver [8:15]: you do....awesome....do you need my email?
Sandman [8:15]: Hi madriver
picker304 [8:15]: morning mad
LEECO [8:16]: morning bobcat,Pail,wiz,DJ,picker
DJalecC [12:16]: morning mad, sorry if I ofended you :-<
DJalecC [12:16]: morning leeco
madriver [8:19]: morning all
nester [8:19]: at
Sandman [8:19]: nester did you see FAZ is 15.65
nester [8:20]: yes... you can sell anytime in premarket
guymar [8:20]: Hello
nester [8:21]: there are many tickers that the premarket is always the highest than any part of the day
guymar [8:21]: look at level II before you sell
Sandman [8:21]: In premarket my bid and ask price are way off.
nester [8:21]: when this opens, it may tank at first, just have to watch it
nester [8:22]: currently showing 15.65 bid 15.66 ask
DJalecC [12:23]: will it break 16 today you think?
Sandman [8:23]: I'll wait and watch it doing regular hours.
nester [8:25]: DJ - not sure. there is decent resistance at $16
madriver [8:30]: IMO it think faz has a better chance to go to 14.50 before it goes to 16
madriver [8:31]: maybe not 14.50 maybe in the 15 to 15.25 IMO
guymar [8:32]: It's going up nicely - if you want to play it safe sell at 15.90 if you have strong nerves: heavy resistance at 16.40
madriver [8:32]: financials have been beaten to the ground in the first place and never really recovered now they are getting beaten again.....that's what makes me a little leary of faz
nester [8:33]: i may dump my options right after the open then buy back in after the pullback. just going to watch the charts. hopefully i won't mess it up like i did the a few days ago...
madriver [8:33]: where do you see a pullback to?
DJalecC [8:33]: that was me yesterday LOL a mess!
nester [8:34]: when they jump up like this in premarket, most always pullback after the opening. if it does stay around this price at opening, think it will pullback to 15.40ish before heading back up. just a guess though
madriver [8:35]: i guess we're all assuming the financials will get beaten up today
nester [8:36]: well, they should. only show profits due to bailout. able to ignore certain losses on their books... ect...
madriver [8:37]: you got a point there!!!
nester [8:37]: besides, the daily charts show it gaining strength
DJalecC [8:37]: been watching lloys in london crash most of the day...
DJalecC [8:38]: lloyds, 'typo'
madriver [8:38]: nester...thanks again...not read yet cause have to work but I'll be getting back to you.
nester [8:38]: no prob. let me know if it makes sense...
madriver [8:39]: lyg and aib ...all getting pounded
Sandman [8:39]: neter I sold them 15.88 didn't get comformation yet.
DJalecC [8:40]: was that faz sandman?
nester [8:41]: you have to make sure the time in force shows premarket or Ext AM
Sandman [8:41]: nester not neter. yes DJalecC
nester [8:42]: Sandman - did they sell?
DJalecC [8:42]: I need to change my broker, who do you guys use?
nester [8:42]: i use TDAmeritrade
Sandman [8:42]: no
Sandman [8:43]: I didn't put pre-market.
jim [8:43]: Morning all
nester [8:43]: well, you may have not placed it properly. their is a place to select the time of day you wish to sell. pull down and have it say Ext AM then it will go into effect
jim [8:43]: looks like a red day
nester [8:43]: morning Jim
jim [8:44]: morning nester
madriver [8:44]: morning jim
nester [8:44]: jim - buying tickets today. will be out there between June 24 - 27
madriver [8:45]: nester...you're in KS right?
jim [8:45]: sounds good, lets plan on getting together
DJalecC [8:45]: morning jim
nester [8:45]: yes.
nester [8:46]: jim - that would be great. we should be staying around Garden Grove area
guymar [8:47]: KS? Sorry for the ignorance but what city is that?
jim [8:47]: I marked the dates on my calender
madriver [8:47]: KS is a state..Kansas
nester [8:47]: guy - Ks is Kansas. currently working in Wichita
guymar [8:47]: aaaah ok
madriver [8:47]: toto and dorothy
guymar [8:47]: ok
jim [8:47]: as we get closer to the dates lets exchange emails
nester [8:47]: sound good jim
madriver [8:48]: guymar...brussells right?
madriver [8:51]: good morning Karen
karenbcz [8:51]: morning, Mad. :>)
karenbcz [8:51]: DJ: weren't you the one who bought FAZ @ $15.40 yesterday?
DJalecC [8:52]: morning karen...
karenbcz [8:52]: morning DJ.
DJalecC [8:52]: nope it was 15:55 and a second lot at 15:60 shortly after LOL
DJalecC [8:52]: still holding!
karenbcz [8:53]: DJ: well, you are gonna CASH IN BIG TODAY!! $$$$$$$$$
karenbcz [8:53]: Morning Guy.
DJalecC [8:53]: got 3000 of them in total LOL
karenbcz [8:53]: DJ - wow!
madriver [8:53]: DJ....you are brave
Sandman [8:54]: DJalecC when do you plan to sell? Maybe I'll follow you.
karenbcz [8:55]: FAZ may turn out to be what FAS was last year.
nester [8:55]: going to love this day... my ERTS is down 29 cents so my short is working well !
karenbcz [8:55]: Anyone here want to make a BET with me?
karenbcz [8:55]: tee he hee
nester [8:55]: sure... well, maybe
Sandman [8:55]: Good morning karenbcz
DJalecC [8:55]: Well my broker is rubbish, so cant sell pre, but will probably hold on 16 if possible.
karenbcz [8:56]: I guarantee you ... FAZ will break $16oo today.
karenbcz [8:56]: 16.oo
nester [8:56]: or?
karenbcz [8:56]: or what?
karenbcz [8:56]: it will. LOL!
karenbcz [8:56]: :>)
nester [8:56]: i sure hope so. bought $16 calls
karenbcz [8:56]: What's your bet, nester?
madriver [8:57]: she is demanding $16
karenbcz [8:57]: excellent. You in't post those yesterday did you?
DJalecC [8:57]: yes, $16 I'm hoping for, then a rest LOL
nester [8:57]: i'll let you buy me lunch if it doesn't
nester [8:57]: yes...
karenbcz [8:57]: nester: you should've posted that trade. Gives others ideas.
nester [8:57]: i did post it
karenbcz [8:58]: Nester: you can buy me a steak & lobster dinner with all the dinero your gonna make on those CALL$$$$!
karenbcz [8:58]: :>)
carr [8:58]: Good Morning Avalon DJ Jim Karen Leeco Madriver Nester Sandman and all
DJalecC [8:59]: morning carr
karenbcz [8:59]: morning carr.
Sandman [8:59]: Good morning carr.
madriver [8:59]: hey carr
nester [8:59]: morning carr
karenbcz [8:59]: Carr: DJ & nester are buying us dinner this week-end.
Avalon [8:59]: hi carr
karenbcz [8:59]: LOL!
DJalecC [8:59]: if you come to the UK that is... tee hee
carr [9:00]: fantastic karen, I have the Steak and Lobster with shrimp cocktail to start
karenbcz [9:00]: Oh! DJ ... you're in England?
nester [9:00]: karen - i screwed around yesterday right before the market closed. was planning on buying more FAZ calls. somehow i got my time messed up and missed that
carr [9:00]: Karen maybe nester could fly us over first class and DJ can buy dinner
karenbcz [9:00]: CARR: LOL!
karenbcz [9:01]: Nester: Do you SEE how confident we are about all the $$$$$ you're gonna make on those FAZ calls?
madriver [9:01]: DJ---what part of UK?
nester [9:01]: carr - sure thing...
DJalecC [9:01]: yes karen... sunny bonny england :-)
DJalecC [9:01]: Cheltenham
karenbcz [9:02]: Nester: I was working in the yard .... missed opportunity.
nester [9:02]: theres no sun in England....
DJalecC [9:02]: there is today!
karenbcz [9:02]: Nester: LOL!
madriver [9:02]: no familiar with that part
karenbcz [9:03]: England's always been "sunny" when I've been there. :>)
DJalecC [9:03]: south west england, just before wales.
nester [9:03]: its like Seattle. sunbreaks...
madriver [9:03]: I've been to Bristol
DJalecC [9:04]: 30 mins from bristol, north
madriver [9:04]: ok....i've seen every fricken castle in England....or atleast it seemed that way
madriver [9:04]: it's been years
majour [9:05]: morning all
guymar [9:05]: sorry was checking my watchlist madriver: yes brussels - Karen, hi and it was me entering FAZ yesterday at 15 40 and I got stopped out
carr [9:06]: morning Majour
majour [9:06]: morning carr
DJalecC [9:07]: morning majour
majour [9:07]: morning DJalecC
karenbcz [9:08]: GUY: Stops are good ... however, you would've made a KILLING today.
karenbcz [9:08]: :>)
nester [9:08]: should have bought FAS puts...
carr [9:08]: Hey guymar, I lived near Brussels many years ago in Rhode Saint Genese
karenbcz [9:08]: BTW ... GUY ... remember that FMER I bought @ $19.oo?
karenbcz [9:09]: Nester: talk about making a KILLING!! (re: FAS puts)
nester [9:09]: thought they were a bit expensive... lol
Sandman [9:10]: nester don't laugh but is calls up and puts down?
nester [9:10]: yes. calls are long
karenbcz [9:10]: yes, SAND.
karenbcz [9:10]: call up, put down.
Sandman [9:10]: Hi again karenbcz.
Sandman [9:11]: and thank you
karenbcz [9:11]: SAND have you bought FAZ yet?
nester [9:11]: Sandman - i sent you an email on that
Sandman [9:11]: yes I'm up $532.07
majour [9:11]: the euro starts regaining ground
karenbcz [9:12]: Nester: the FAS May $27 puts were 0.50 on Tuesday, went to $1.83 yesterday.
nester [9:12]: WASHINGTON (MarketWatch) - The number of people applying for unemployment benefits shot up 25,000 in the latest week to 471,000, the highest level in a month, according to the Labor Department. The four-week average of initial claims - a better gauge of employment trends than the volatile weekly number - rose by 3,000 to 453,500. Economists surveyed by MarketWatch predicted initial claims would drop to a seasonally adjusted 440,000 from last week's reading of 446,000. A Labor Department official said there were no unusual factors to explain the increase
Sandman [9:12]: Thanks nester.
karenbcz [9:12]: SAND outstanding!
karenbcz [9:12]: SAND: did you hold overnite????
Sandman [9:13]: yes
karenbcz [9:13]: SAND: wow! you've got GUTS!!
guymar [9:13]: sorry guys - still doing homework here
Sandman [9:14]: It gets my blood flowing.
karenbcz [9:14]: SAND: welcome to club .... it's called "adreline junkie" ... LOL!
DJalecC [9:14]: lol
karenbcz [9:15]: Man! That FAZ chart sure is pretty!
karenbcz [9:15]: $$$$$
Sandman [9:15]: I think it's because I hate to lose.
guymar [9:16]: carr - ah ok - good I live in Kraainem actually all typical expat stuff - though I'm not Karen FMER going down do you still have it?
karenbcz [9:17]: Geesh! SPY has CRASHED in pre-market. went from 111.76 close yesterday to 109.68 now!
karenbcz [9:17]: GUY: oh! you didn't see my message ... SOLD FMER @ $19.23. :>)
nester [9:18]: Sandman - still have them?
karenbcz [9:18]: GUY: so you're an American living in Belgium?
Sandman [9:18]: yes
nester [9:18]: you may want to cancel that sell order you have. if you didn't place it correct, it could trigger on the way up
majour [9:19]: karenbcz, good trade I intend to short it
guymar [9:19]: nono I'm a Belgian living in Belgium :)
karenbcz [9:20]: GUY: oh!! I thought you said "expat".
carr [9:21]: I graduated from high school from the International School of Brussels
Sandman [9:22]: I don't have your email nester.
Sandman [9:22]: I cancel after you told me premarket.
Andrew [9:24]: Sandman, FAZ is currently trading near 15.78. I would probably sell half of your shares soon after the open and set a stop loss for the other half to try and let the trade run.
guymar [9:24]: you live in Bristol now?
carr [9:24]: DJ lives near Bristol, I live in Toronto Canada
guymar [9:24]: oops
Andrew [9:24]: Such a large gap down in the market doesn't happen too often.
carr [9:25]: morning Andrew
guymar [9:25]: candidate for trading upside after gap: BJ look at the chart
Andrew [9:25]: Good morning carr. How are you?
prp25brad [9:26]: morning
nester [9:26]: hey Andrew i would stay away from longs today
DJalecC [9:26]: morning andrew :-)
Andrew [9:26]: What was the news?
guymar [9:26]: Hi Andrew
guymar [9:26]: jobs
Andrew [9:26]: Oh worse jobless claims?
nester [9:26]: unemployment numbers
jlm1 [9:27]: Futures were ugly long before initial claims report.
Andrew [9:28]: Yeah, if I held 700 shares of FAZ at 14.99, I would sell 350 near 9:30am and then set a stop loss for the other 350 near 15.23.
carr [9:28]: morning prp25brad
nester [9:29]: Leading indicators are at 10 am
prp25brad [9:30]: morning carr, andrew, nester, et al
karenbcz [9:30]: HUGE gap up on FAZ!
karenbcz [9:31]: MAJOUR: Did you short FMER??????????
nester [9:31]: hey brad... great shorting days coming...
prp25brad [9:32]: Ya, knight was saying the MM's would be making money today...boy was he wrong
karenbcz [9:32]: PRP" yes, I noticed that!
nester [9:32]: charts are all falling apart. can't find but a few that i would even think about going long on
prp25brad [9:32]: Well, I hate 100+ opens. I rarely win on them.
karenbcz [9:33]: PRP: I wonder if he still thinks PEIX will be $10 by August?
prp25brad [9:33]: or 100- opens
prp25brad [9:33]: PEIX looks like a huge turd
nester [9:33]: going to hold my faz calls for a bit. not enough profit yet...
guymar [9:34]: AMRN 2.53 Long
prp25brad [9:34]: whoa...long
Andrew [9:35]: long FAS 14.10
Andrew [9:35]: 24.10
guymar [9:36]: out 2.55
Andrew [9:36]: triples up on FAZ 24.15
prp25brad [9:37]: more balls than me guymar
guymar [9:37]: not enough it's still going up
guymar [9:38]: and I missed COF look at that chart
guymar [9:38]: I came out my Bollinger/Keltner scanner
guymar [9:38]: it
karenbcz [9:38]: SAND: did you take your profits (FAZ)
carr [9:39]: guymar BJ was a good call in pre-market, but I miseed it
Sandman [9:39]: not yet.
guymar [9:39]: me too ;)
guymar [9:39]: F***
guymar [9:39]: I should follow up my own calls
Sandman [9:39]: I'm waiting for it to go over 16
carr [9:39]: LOL
prp25brad [9:40]: I've been looking for weakness like this for the past year
Andrew [9:40]: If that was just our grand bounce attempt, the market today is in big trouble.
prp25brad [9:40]: amen andrew
Andrew [9:40]: Pathetic.
Andrew [9:41]: Me too brad.
prp25brad [9:41]: Give it 15-30 minutes. bounces on 100+/- days take longer
guymar [9:42]: GLL 42.02
guymar [9:42]: long
guymar [9:42]: is double short gold
Andrew [9:42]: The bounce should have been a little more though just because of the VIX being above 40. To me that suggests the shorts aren't taking any profits but holding out for a much larger move.
Andrew [9:42]: out FAS -0.54%
prp25brad [9:43]: I think we agree. I never enter this early on big moves...too risky
prp25brad [9:43]: I'm still flat
prp25brad [9:43]: DOW is at a pivot point
nester [9:43]: i'm surprised that we didn't get a decent pullback this morning
Andrew [9:44]: long FAZ 15.86
Andrew [9:44]: tripled up on FAZ 15.95
karenbcz [9:44]: FAZ = $16!!! Dinnertime!!
jlm1 [9:44]: there is your 16 on FAZ
nester [9:45]: FAZ @ $16
bfez [9:45]: Long FAZ 15.89
prp25brad [9:45]: and rarely on 200+/- days do I see major pullbacks
prp25brad [9:45]: You see the pullbacks in the following days
nester [9:45]: man, they really hate the financials right now
Andrew [9:46]: The financials are back to their lows from the 5/6 crash.
Andrew [9:46]: Possible bounce place
prp25brad [9:47]: If we are going to bounce, it will be here and I agree
prp25brad [9:47]: nice call on AMRN
Andrew [9:48]: added to FAZ 15.99
guymar [9:48]: thanks
Andrew [9:48]: out FAZ -0.4%
prp25brad [9:49]: Andrew, you think we are going to bounce and you add FAZ?????
Andrew [9:49]: I thought the bounce had just failed really quickly which would have been a sign of huge continued downside.
prp25brad [9:49]: ok, fair enough
Andrew [9:50]: I figure I can get back in now at a better price.
majour [9:50]: L HOV 5.81
guymar [9:50]: GLL going nowhere - out at 41.94
prp25brad [9:50]: 10277 has been a huge stubling block on the dow
nester [9:51]: looks like they will pullback a bit or go sideways for minutes. ma's are too far from the price
Andrew [9:51]: back in FAZ 15.70
karenbcz [9:51]: we are just days away from DOW 9800.
Andrew [9:52]: added to FAZ 15.74
Andrew [9:53]: added to FAZ 15.62
knight [9:53]: add seed 7,25
knight [9:54]: take profit from hov 7.65 to 5,85 part 4
Andrew [9:54]: added to FAZ 15.69
prp25brad [9:54]: bla bla bla
nester [9:55]: missed that drop on MON...
prp25brad [9:56]: Long FAZ 15.71
knight [9:56]: peix .66
Sandman [9:57]: Andrew how high do you think FAZ will go?
nester [9:57]: Brad - what do you think of AA ?
DJalecC [9:57]: out FAZ from yesterday +2.04%
karenbcz [9:57]: SAND: did you take your profits????
Andrew [9:57]: No clue. At this point there's a chance you might have a great entry for a long-term trade. That's why I would try and only take profits on half your shares.
Sandman [9:58]: not yet.
Andrew [9:58]: And try and hold the other half with a loose stop loss.
karenbcz [9:58]: SAND!!!!
Sandman [9:58]: It didn't go over 16
knight [9:58]: a/d ratio -24.77 ?????
Andrew [9:58]: I would still sell half near here and try and let the other half run for a very long time.
karenbcz [9:59]: SAND you said $16! You could've SOLD @ $16.oo, then bought back LOWER.
prp25brad [9:59]: AA, long term or intra?
Andrew [9:59]: Worst case scenario - you just make a few hundred bucks profit. Best case scenario - a few thousand.
nester [9:59]: $11 puts. hold about a week
karenbcz [10:00]: SAND: sorry,.... I'm trading FAZ vicariously thru you. LOL!
prp25brad [10:00]: Oh man, I don't do options. Puts is that you can sell the stock right?
carr [10:00]: I think FAZ should go over $16 easy today
guymar [10:00]: spxu 34.94
nester [10:01]: puts are same as shorting
Andrew [10:01]: I could see FAZ above 18.00 in the not too distant future.
Sandman [10:02]: karenbcz what ever you do is all right with me.
karenbcz [10:02]: :>)
prp25brad [10:02]: So you think the stock will be below $11 within a week is the idea....While I think this correction is long overdue, I don't see a continued downward trend within the next week. My take (right or wrong) I would be putting puts on anything
Andrew [10:03]: The bulls currently are defending the low 109.00s in SPY.
nester [10:03]: k...
nester [10:03]: thanks.
prp25brad [10:03]: I see this as great opportunities to find stocks that are beaten down and go long
nester [10:03]: AA $11 puts $ 0.63
Andrew [10:04]: The 10:00am data came in a little worse than expected too, not sure if that would matter much.
nester [10:04]: i don't see that. the charts are decaying from here
prp25brad [10:05]: Out, FAZ +1.3%
guymar [10:05]: out 35.15
prp25brad [10:06]: you asked for my opinion, and trust me it is not always right
karenbcz [10:06]: GUY: pls specify stock when coming out. thx.
prp25brad [10:06]: good luck nester...I hope I'm wrong
nester [10:06]: i know i did and i respect it. you and i seem to see the same things in charts
karenbcz [10:07]: Is anyone following PUT/CALL RATIOS????
DJalecC [10:07]: FAZ is too fast :-)
Andrew [10:07]: added to FAZ 15.80
guymar [10:07]: the one I went in before
guymar [10:08]: SPXU
prp25brad [10:08]: very true nester
DJalecC [10:08]: charts have crashed
guymar [10:08]: not following put call - too much to look at
Andrew [10:08]: I don't like anything long right now. I think we've had very weak attempts to bounce.
knight [10:08]: faz short 15,95
bfez [10:09]: Put/Call of FAZ is .41
guymar [10:09]: major headfake under way
nester [10:09]: on the 5 min FAZ chart, the ma just caught up with the price. should go up from here
prp25brad [10:09]: gawd, PEIX down 16%.....
Andrew [10:10]: Yeah it's certainly prime head-fake time of day even on a regular day.
knight [10:10]: add peix .62
guymar [10:10]: just waiting to see how this plays
td [10:11]: Why all the double posts ????????
Andrew [10:12]: I'm not seeing any double posts.
DJalecC [10:12]: SV crashing, where is GAR ?
guymar [10:12]: there seems to be a problem - also big delays in posts
carr [10:12]: test
Andrew [10:12]: test
carr [10:13]: I just re-started StockVision and double post are gone and speed is fine
Andrew [10:13]: yeah me too
guymar [10:13]: pfew
bfez [10:13]: FAZ needs to break resistance of 15.99 before possible takeoff.
Andrew [10:14]: Fasten your seatbelts
guymar [10:14]: ERY 12.59
Andrew [10:14]: out 1/5th FAZ +2.5%
Sandman [10:15]: Sold FAZ at $15.9901
prp25brad [10:15]: Ya, this is gonna get ugly
nester [10:15]: Sandman - place a stop at $16
majour [10:15]: out HOV 5.81 to 5.91
Andrew [10:15]: out another 1/5th FAZ +2.6%
majour [10:15]: short WMB 19.41
Andrew [10:16]: Using the round numbers for stops in the triples normally doesn't work too well.
nester [10:17]: Karen - you won... :(
karenbcz [10:17]: :>)
moejd [10:17]: The DOW has broken the 200ma this will kick in alot of program selling by mutual funds
prp25brad [10:17]: If we see a pullback (and this is a huge if) it will be after noon
Andrew [10:17]: The moves could become a lot more violent now since a lot of high frequency trading firms will probably be turning off soon.
guymar [10:17]: ERY out 12.68
karenbcz [10:18]: Nester: next stop $16.45. :>)
Andrew [10:18]: out another 1/5th FAZ +3.1%
karenbcz [10:18]: ANdrew: what do you mean "turning off".
knight [10:19]: take profit from hov 7,55 to 5,84 last part
Sandman [10:19]: karenbcz- made 6.53%,$686.14
Andrew [10:19]: They will turn off many of their trading strategies since they become too risky in a too-volatile market.
karenbcz [10:20]: $SAND!!! congrats!
Andrew [10:20]: There won't be as many people entering trades trying to just get 1-cent or 0-cents in this environment.
Andrew [10:20]: Good job Sandman.
prp25brad [10:20]: TZA is moving more than FAZ
knight [10:20]: add faz short 16,2
madriver [10:21]: knight....why not long FAS
nester [10:21]: look at SSO
madriver [10:21]: just asking
knight [10:21]: it's can be good too
Andrew [10:22]: When holding overnight if possible you always want to short the triples since you can profit a little more from the natural decay over time.
prp25brad [10:22]: wow -280
nester [10:22]: placed stop on FAZ calls at 2.60
td [10:22]: madriver FAZ is biased to the down side
knight [10:22]: atfer the panic selling will come the bargains hunter...
madriver [10:23]: td...no kidding
Andrew [10:23]: out another 1/5th FAZ +3.3%
prp25brad [10:23]: I'm still holding BSRC
guymar [10:23]: SPXU damn got out too fast
knight [10:23]: and now the market overreact....
prp25brad [10:24]: The volume on FAZ says more downside
Andrew [10:24]: out rest of FAZ +4.5%
Andrew [10:24]: long FAS 23.08
cret3 [10:25]: this time is 'normal' drop :)
knight [10:25]: many traders are in panic selling every things , or margin covering or full shorting
Andrew [10:25]: added to FAS 23.00
Andrew [10:25]: added to FAS 23.10
knight [10:26]: with no real reasons
madriver [10:26]: gotta like fas here
Avalon [10:26]: I'm hedging with VXX today
guymar [10:27]: strongest advance RS wise in is ERY
madriver [10:27]: vxx has gone through the roof
madriver [10:27]: what's the other side of vxx?
majour [10:27]: covered short WMB +1.35%
Andrew [10:28]: There's a similar one VXY but I don't think there's an inverse of them.
Andrew [10:28]: VXZ I mean
Avalon [10:28]: Got into VXX at 31.90 this morning. Keeping my account balance stable lol.
td [10:28]: This sell off is far from over
knight [10:29]: this is no real reason except FEAR
majour [10:29]: L USD 29.09
prp25brad [10:29]: I agree td, not enough of a move in the market to take the risk on my $
Andrew [10:29]: The volatility is the highest it's been since the end of March 2009.
bfez [10:29]: FAZ - What a ride. After 16.00 moved to 2nd Standard Deviation of Pivot Point where it meet resistance.
bfez [10:30]: Classic movement.
Andrew [10:30]: out 1/3rd FAS +1%
knight [10:30]: add short faz 16,5
prp25brad [10:30]: I think sideway most of the day and recovery tomorrow or next week
Andrew [10:31]: Using less size with FAS and taking profits quicker compared to with FAZ since I'm going against the dominant trend of the day.
Hyperion [10:31]: recovery to what?
prp25brad [10:31]: Sorry hype, "recovery"
prp25brad [10:31]: I'm speaking realtive, not absolute
knight [10:31]: let see if the deep sea mouvement is over .....
prp25brad [10:32]: FAZ long is looking good
Andrew [10:32]: out another 1/3rd FAS +1.5%
Andrew [10:32]: out rest of FAS +1.3%
Andrew [10:33]: long FAZ 16.25
bfez [10:33]: prp - Got to go over 16.38 and come back to kiss it before FAZ will take off again
prp25brad [10:33]: Long VXX 34.04
Andrew [10:34]: added to FAZ 16.17
Andrew [10:35]: added to FAZ 16.19
karenbcz [10:36]: Is BIDU going up?
Andrew [10:36]: Possible bounce along with the market. BIDU was one of the strongest stocks of the year.
Andrew [10:37]: added to FAZ 16.29 (double position)
nester [10:40]: can't believe i didn't get stopped out on my FAZ calls. dropped to 2.58 stop at 2.60
Andrew [10:41]: How much are you up on them?
nester [10:41]: over 23% right now...
Andrew [10:41]: Nice!
prp25brad [10:42]: very nice
nester [10:42]: bumped stop to 2.65
bfez [10:43]: FAZ - Came back to kiss 16.38, the 2nd STD of Pivot Point, should head down now.
bfez [10:44]: Support @ 16.12
Andrew [10:44]: I would be surprised if it goes down too much.
bfez [10:44]: Support @ 16.12, Andrew
Andrew [10:46]: I think it will see 16.50 before 16.12.
prp25brad [10:46]: What about volume?
jim [10:46]: Andrew what do you think about fas at this point?
guymar [10:46]: guys, this is the resistance i posted this morning for FAZ (and posted yesterday too
guymar [10:46]: why don't I trade on my advice (well I did and got stopped out)
guymar [10:47]: :)
bfez [10:47]: Volume was high on last FAZ long move
Andrew [10:48]: I doubt FAS has more than another 1% more or so left in the short-term.
madriver [10:48]: GAR says wait for market to do something stupid....i think that was a stupid down......over the top
jim [10:49]: L FAS 23.47
nester [10:49]: Stopped out FAZ calls +22.6%
guymar [10:49]: kudos
knight [10:49]: right on madriver
knight [10:50]: people react stupid in that kind of market and it's proof
Andrew [10:50]: out FAZ -0.6%
Andrew [10:50]: good call bfez
bfez [10:51]: FAZ - less than 16.12, move down can go to 15.66, the 1st STD of Pivot Point.
Andrew [10:51]: back in FAZ 16.11
bfez [10:52]: Andrew, this is the first time I've seen FAZ follow Classic market action
knight [10:52]: i have made a lot of $$$$ when i bought when market was really low , like now and sell high
Andrew [10:52]: added to FAZ 16.14
Andrew [10:54]: added to FAZ 16.06
Andrew [10:55]: added to FAZ 16.11
Andrew [10:55]: addded to FAZ 16.17
td [10:57]: Andrew If I may ask--how many portions do you use?
Andrew [10:58]: 300 shares at a time
Andrew [10:59]: In normal markets my very max would be a triple position of a triple ETF. But since there is so much opportunity for large gains with the VIX so high, I have 4x and 5x positions even if I feel strongly about the setup.
guymar [11:00]: Are you neutral on FAS and FAZ?
td [11:00]: Thank Andrew
majour [11:00]: out USD 29.65 +1.9%
nester [11:02]: stop placed on ERTS puts at $1.12
Andrew [11:02]: This strategy of trading them tends to lose money when the market goes sideways though so I'm essentially betting against sideways action (not usually a good bet to make).
madriver [11:03]: c @3.64
nester [11:04]: wow... my buddy will be happy on C he shorted it at $4.18
Andrew [11:04]: I hope the gov't already sold out at the better prices, lol
madriver [11:05]: I think they are still selling........haven't followed
madriver [11:06]: if you want a short what about when treasury starts converting AIG to common?
Sandman [11:06]: VIX is up 19.73%
Hyperion [11:06]: wow figures
Andrew [11:07]: AIG could be nice for a long if we ever have a green day again. It's been a strong stock recently selling off on low volume.
madriver [11:07]: i know aig all to well....don't count on anything they do
DJalecC [11:08]: c loooking good
prp25brad [11:08]: Stopped out VXX -1.5%
madriver [11:08]: they are saying they are going to have a largest corporate restructuring history.....for what it's worth
Andrew [11:09]: I'm going to start looking for some more shorts here.
madriver [11:10]: in history
madriver [11:10]: wait
Andrew [11:10]: short CENX 9.96
madriver [11:11]: now that one moves all over the board usually
Andrew [11:11]: short RDN 8.99
knight [11:11]: peix is making a nice come back
Andrew [11:12]: short CROX 9.11
knight [11:14]: the market need to calm down before the jump
Andrew [11:15]: Those shorts are from a screen showing high-beta stocks down a lot since the open on good volume.
jim [11:16]: Knight how does -13% for the day equat to a nice come back on peix?
knight [11:18]: from .60 to .66 with 300K - make you calculation - what's does that means
fwguyus [11:18]: Is the market crashing or what?
madriver [11:18]: knight...after 11:45....down -85 end of day..IMO of course
knight [11:18]: not to bad in a sad day - don't you think &
madriver [11:19]: what qualifies as a "crash"?
madriver [11:19]: yeap
Andrew [11:20]: I think -250 within an hour on bad jobs data would qualify.
madriver [11:20]: alot of money knight!!!!
madriver [11:20]: again "crash" as compared to the Depression era......that is the benchmark
madriver [11:21]: you might even want to throw in 2008 to some extent
Andrew [11:21]: Oh I don't mean actual crash like that.
knight [11:21]: it's not a crash but a manipulation from finance MM
Andrew [11:21]: Maybe -500 or so would be a crash like that.
madriver [11:21]: to say this is a crash is uttlerly absurd
Andrew [11:24]: SPY intraday formed a wedge with an apparent break to the downside.
knight [11:24]: they call this action a ``needed correction ``
madriver [11:24]: Andrew... I wasn't refuting what you said but I think it takes more to qualify as a crash
madriver [11:24]: right
knight [11:25]: will a good press news to push this market further down in order to create a panic selling action...
knight [11:26]: and after cover their short and start to rob your share for peanuts..
madriver [11:26]: who the hell really cares what I think anyway....I just trade
knight [11:27]: we call them the guru of the finance... or banks or hedge fund, etc...
nester [11:27]: thinkin FAZ drops back to 15.80 area here soon
nester [11:28]: short FAZ 16.08
Andrew [11:29]: out half FAZ -1.1%
Andrew [11:30]: added to CENX short 10.03
knight [11:31]: now they will start shorty covering and buy bargains stock
Andrew [11:31]: added back to FAZ 15.95
Andrew [11:33]: added to FAZ 15.95
Wizard [11:33]: Knight, now where does 300000 shares sold at one time , all so PEIX spiked so far low of .60 and up side of .6596 so something wrong with your numbers. Charts show only 20000 shares buyers at the .6596. Are you sure this is the right stock you bought.
karenbcz [11:33]: "C" mvoing up fast.
karenbcz [11:34]: "C" - well not "fast" but looks like trying to break 3.69
madriver [11:35]: karen---c has alot of sideways action...drives me crazy
nester [11:35]: out ERTS puts +26%
Andrew [11:36]: added to FAZ 15.89
karenbcz [11:37]: L FAZ 16.03
Andrew [11:38]: added to RDN short 8.91
nester [11:39]: FAZ still looks like it will fall from here
karenbcz [11:40]: nester: it could .. I'm just looking for a 0.10. If not, I'll hold for next leg down.
karenbcz [11:40]: Nester: my next big position in FAZ will be @ $15.25.
nester [11:40]: lol... i guess i'm greedier... looking for 25 cents on the fall
madriver [11:41]: that bear belt at the top is really pushing red
Andrew [11:42]: added to CROX short 9.05
karenbcz [11:42]: Nester: if DOW gets to 10,300, I can get FAZ for $15.25.
nester [11:42]: karen - think your ok faz short falling apart
nester [11:42]: out FAZ short +0.6%
madriver [11:42]: karen....i agree with you one that one
madriver [11:43]: on
karenbcz [11:43]: Ok Nester ... here come my 0.10 on FAZ
madriver [11:43]: market doesn't seem to know where it wants to go???
Andrew [11:43]: There have been a few head-fakes today.
madriver [11:44]: andrew.....tough ones to read for sure
nester [11:44]: there's your dime
jim [11:44]: see ya gone for the day
karenbcz [11:44]: YEP. e-z MONEY$$$
nester [11:44]: c'ya jim
Andrew [11:44]: In particular the buying near 10:05am and the selling near 11:15am.
Andrew [11:47]: out CENX -0.75%
nester [11:47]: i need to follow my instints more. picked 11 to go down today and they are all tanking. only got in 2...
Andrew [11:49]: short MBI 6.92
fwguyus [11:50]: why is the papertrading system sayting tht HYC is not a valit symbol
nester [11:51]: fw - may not be loaded into SV
fwguyus [11:51]: Why is the paper trade system sayting that HYC is not a valid symbol
Andrew [11:51]: It doesn't do enough volume to be in the SV master list.
moby [11:52]: HYC not in the Sv Master List then
moby [11:52]: SV
fwguyus [11:52]: yes...
Andrew [11:52]: added to MBI short 6.91
fwguyus [11:53]: 60 min trend is green and 5 min seems to moving towards green...down this mean that the market is rebounding from today mini crash
Andrew [11:54]: SPY bounced off 108.00, a key level of resistance from the fall of 2009. I personally anticipate the rally the last hour and a half will be short lived.
knight [11:54]: it's a yoyo market
knight [11:55]: happen after a panic selling mode - and then come the huge buying mode
fwguyus [11:55]: BEE is taking a dive...
Andrew [11:55]: There seem to be a lot of buyers near 108.50 in SPY though.
madriver [11:56]: volume is falling off so I think it's going to be a bit more postive however that could change quickly
knight [11:56]: well a late news fwguyus , the dive is already done
Andrew [11:57]: out 2/5ths FAZ +1.3%, just making up for my previous loss in it
fwguyus [11:57]: I rally needed to hear that as much as many dont want to here it here...
nester [11:58]: faz
karenbcz [11:58]: I can't wait for .. "the huge buying". I'm gonna LOAD UP ON FAZ, and be ready for THE HUGE CRASH! :>)
madriver [11:58]: say what fwguyus?
Andrew [11:58]: That huge gap up on the morning of the European bailout last Monday was a great opportunity for the smart money who wanted to get short.
fwguyus [11:58]: rally=really
knight [11:59]: why not some dead cat with that too ....
karenbcz [11:59]: Everytime the DOW goes down, I feel FAZ slipping out of my hands. :>(
fwguyus [11:59]: I got in a long position with s yesterday and trying to get out of it, but market is not allowing me to yet, and i dont want to take a major loss...
madriver [12:00]: karen are you in FAZ?
madriver [12:00]: FW...is that on BEE
karenbcz [12:00]: No, I got OUT @ $16.13.
fwguyus [12:00]: no i got in on S
Andrew [12:01]: S did a strong bounce off its 10-day moving average after the open and hasn't made a lower lower.
karenbcz [12:01]: MAD: I wanting to do a big trade on FAZ, so I'm just sitting on the side. Problem is tomorrow is Friday. NOT a good day to have a market rally. :>(
fwguyus [12:02]: andrew it did a bounce yesterday not today..?
madriver [12:02]: karen...probably not a great idea....
madriver [12:02]: but...............
DJalecC [12:03]: I try not to trade on fridays, its the profit takers day, everyone needs to pay for their weekend... :-)
Andrew [12:03]: The 10-day moving avg. is at 4.31 and S didn't even tick below that.
madriver [12:03]: Karen....maybe play it safer like Nester and use puts and calls
fwguyus [12:03]: the sixty min chart looks good for S, but i m not sure....i m losing confidence...
karenbcz [12:03]: MAD: that's a good idea. But still ... i'm looking for DOW 10,300 for a good buy.
fwguyus [12:04]: probebley hedging wiht options mabe a good idea...
nester [12:04]: did Ameritrade site crash?
Andrew [12:04]: It's working for me
nester [12:04]: got kicked out and can't log back in
nester [12:05]: called and no one answered. high volume calls coming in
madriver [12:05]: Nester the market just rebounded 300 points since you've been out!!!!
knight [12:05]: every body is waiting to see what will happens - no one want to sell anymore and no one want to buy in those condition - so the only possible move is shorty will start to cover
nester [12:05]: thanks mad...
Iswing64 [12:06]: lol
madriver [12:06]: I'm jagging you!!!
Andrew [12:06]: Oh you're right nester, same problem
nester [12:06]: and to think i used to like you....
madriver [12:07]: Nester....you're the best!!!!!!
nester [12:08]: i went to buy another FAZ call option when it ticked up from $16.08 that is when it crashed on me
Andrew [12:08]: out MBI tiny gain
Andrew [12:09]: All this sideways volatile is extremely annoying.
madriver [12:09]: i hate this c trade
madriver [12:09]: that is exactly what c is doing......crap
Andrew [12:09]: If you're still thinking short though, here would be a decent entry
Andrew [12:10]: back short CENX 9.96
madriver [12:11]: Nester...did you get that resolved with Ameritrade?
nester [12:11]: still down AAAAAAAAAAAAAAHHHHHHHHHHHHHH
karenbcz [12:12]: MAD: "C" why no just get out?
Andrew [12:12]: added to CENX short 9.94
karenbcz [12:12]: Before you have a loss.
madriver [12:14]: karen.....because I don't think I'll have a loss...I don't now and I just will put in as stop because I have to leave soon
nester [12:14]: WASHINGTON (MarketWatch) -- The economic recovery may "lose a little steam," though it will continue through the summer, the Conference Board said Thursday. The index of leading economic indicators fell 0.1% in April - the first decline since March 2009 - following a slightly downwardly revised reading of a 1.3% gain for March. Analysts polled by MarketWatch had expected a gain of 0.2% in April. While strengths among leading indicators have been widespread in recent months, the index's six-month growth rate has "moderated" since December, according to the Conference Board. In April, four of the 10 leading indicators rose, with the largest positive contribution from the interest rate spread. The largest negative contribution came from building permits.
bfez [12:16]: Andrew, are you familiar of the book, "You can't lose Trading Commodities" by Robert Weist.?
nester [12:17]: FAZ makin a nice move without me...
bfez [12:17]: Your trading reminds me of what is called the "Las Vegas Method" but applie to FAZ or FAS instead.
bfez [12:17]: It's effective.
karenbcz [12:18]: MAD? you still here?
madriver [12:19]: yes
nester [12:19]: well, i guess they decided i'm done for the day. glad the ones i'm in are going my way...
karenbcz [12:19]: Nester: R U OUT of FAZ?
nester [12:19]: couldn't get in it. system crashed as i was buyin back in
karenbcz [12:20]: MAD: where's your stop?
nester [12:20]: well, i think i'm not in....
karenbcz [12:20]: Nester uh?
moby [12:20]: better not in than in trying to get out
karenbcz [12:20]: oh Ameritrade?
madriver [12:20]: 3.57
nester [12:20]: yes...
karenbcz [12:21]: k
nester [12:21]: moby - maybe. if it doesn't turn against me... can't tell if i'm in or not
Andrew [12:21]: out 1/3rd remaining FAZ +2.1%
bfez [12:21]: FAZ hit up against the 16.38 2nd STD line again and shouth start going down.
madriver [12:22]: so long folks.....
nester [12:22]: c'ya mad
DJalecC [12:24]: bye Mad
Andrew [12:25]: I haven't heard of "You can't lose Trading Commodities." What does the Las Vegas Method entail?
Andrew [12:25]: Is that he doubling up one?
Andrew [12:25]: the
bfez [12:29]: One of the strategies is to bet even increments on the way down and sell at small profits on the way up. That seems to be what you're doing.
Andrew [12:30]: Yeah pretty similar. Ideally I'd like to hold a core position for a longer time frame and then trade around it (buying more on the dips and selling those added parts on the bursts up).
Andrew [12:31]: If you're buying something on the way down though you need to be extremely careful (e.g. buy something very strong on the way down, or only use small size, or have a tight stop a lot smaller than your profit target).
bfez [12:35]: With regard to FAZ note how it has hovered around 16.38 for about 25 minutes. The next Pivit point down
bfez [12:35]: is 15.66.
Andrew [12:35]: All the high frequency trading strategies have forced me to take more of that approach since there are a lot more mean reversions than there used to be so it's harder to just chase momentum on your entries.
bfez [12:37]: The current support is 15.86
Andrew [12:37]: If FAZ doesn't go to 16.70 or so pretty soon I'll be pretty surprised.
Andrew [12:38]: out half RDN +2.5%
bfez [12:38]: If FAZ breaks 16.38 and rises it will generally go back to kiss the 15.38 line before rising to 15,70
Andrew [12:38]: My 12:37 comment is my attempt to be hopeful while being in a winning trade, lol
Andrew [12:39]: out CENX +0.3%
guymar [12:41]: Andrew (was out) you have resistance again on 16.6 and we haven't broken the first resistance at 16.45
Andrew [12:42]: doubled up on FAZ 16.33
Andrew [12:44]: If CROX ever gets below 9.00 it might be good.
Andrew [12:44]: There have been buyers there for the last hour.
Andrew [12:50]: CROX below 9.00, let's see if it shoots up or sells off...
Andrew [12:51]: out 2nd half RDN +3.6%
Andrew [12:51]: out 1/4th FAZ +2.3%
karenbcz [12:54]: OMG! FAZ doing so much more than I ever imagined!
karenbcz [12:55]: TZA UP 14%
Andrew [12:55]: out another 1/4th FAZ +2.5%
guymar [12:56]: getting divergence on oscillator
Iswing64 [12:56]: faz 17 today??
Andrew [12:57]: It's a possibility
Iswing64 [12:58]: I'm still in from 15.07 yesterday
Andrew [12:59]: That's great!
Iswing64 [12:59]: man look at it go
Andrew [13:00]: out another 1/4th FAZ +3.8%
Andrew [13:00]: out CROX +1.1%, doesn't want to sell off apparently
Andrew [13:01]: out rest of FAZ +3.6%
Andrew [13:01]: long FAS 22.51
karenbcz [13:01]: Remember this morning ... I told you we're just days away from DOW 9800.
karenbcz [13:02]: But THIS drop is so much more than I ever imagined.
nester [13:02]: finally got ameritrade back up... missed that move up on FAZ though
Andrew [13:02]: added to FAS 22.59
Andrew [13:04]: added to FAS 22.65
moby [13:04]: far worse sitn's to be locked out of your platform
Iswing64 [13:05]: nester..i think scottrade locked up on me...whats the quote on faz..anyone
moby [13:05]: 16.59
Andrew [13:05]: and dropping
moby [13:05]: 16.56
Iswing64 [13:05]: ahhhhhhh!!!
nester [13:05]: falling
Andrew [13:06]: out 1/3rd FAS +1%
nester [13:06]: sell all those shares and buy me my bike...
moby [13:06]: stockcharts.com is a good freerealtime chart and quote site
Iswing64 [13:07]: scottrade DOWN...anyone
Andrew [13:07]: Their quotes seem ok
moby [13:07]: 16.57
nester [13:08]: swing - i didn't want to be the only one without the ability to traded....
Andrew [13:08]: Anyone think we'll see another May 6th Part 2?
moby [13:08]: www.freestockcharts.com too
Andrew [13:10]: out another 1/3rd FAS +1.1%
Iswing64 [13:10]: Ok whew had to reboot. back on
Andrew [13:11]: out rest of FAS +1.3%
Andrew [13:11]: long FAZ 16.49
nester [13:11]: don't think that will happen again Andrew. congress will then just control all the trading...
Andrew [13:11]: added to FAZ 16.46
Andrew [13:12]: added to FAZ 16.50
Iswing64 [13:13]: I think your right nester..
td [13:13]: Andrew are you using an indicator to tell you when the turn is happening?
Iswing64 [13:13]: Did you call ameritrade??
nester [13:14]: it came back on. FAZ already made that great move though
Andrew [13:14]: I'm just trying to stay in the financial sector all day so I have a sense of where I'd be taking my profits at each end and where things feel a bit too "over-extended." No indicator really.
nester [13:14]: and of course, i didn't get filled when it crashed...
td [13:14]: Andrew You are good at it
bfez [13:15]: FAZ, it's coming back to kiss the 16.38 2nd STD line. It's a natural support line berfore heading back up again.
Andrew [13:17]: When I saw FAZ was already back at 16.50 so quickly I couldn't believe it. Really good risk-reward in my opinion.
Iswing64 [13:17]: I thought you said it would go down to min 15's..bfez
Andrew [13:19]: back short RDN 8.75
Andrew [13:19]: short ATPG 12.89
Andrew [13:20]: These are some dream prices for re-shorts
bfez [13:20]: It's natural low was minimum 15's, but later it reversed @ 15.84, hovered around 16.38.
karenbcz [13:21]: LSWING: I think you're referring to the pivot point = $15.65.
Andrew [13:21]: added to FAZ 16.36
Iswing64 [13:21]: ahh ok...
karenbcz [13:22]: LSWING: go to freestockchart.com and click "Add indicator" pivt. pt.
Andrew [13:22]: added to FAZ 16.32
knight [13:22]: funny how to see how some folk become guru quick here
bfez [13:22]: At that time I answered Andrew that if bars exceeded 16.38 and come down to 16.38 to kiss it before going back up.
picker304 [13:22]: CBI 17.34- 16.97 2.18+ TLB 14.75 14.34 2.86+
Andrew [13:22]: good call
Iswing64 [13:22]: sweet pick!!
karenbcz [13:22]: Knight: I don't think ANYONE here "thinks" they're a "guru". We're just trying to HELP eachother.
Andrew [13:22]: added to ATPG short 13.01
bfez [13:22]: That's essentially wahat it has done.
knight [13:22]: and give some kind of theory , it's probably why this market is irratic
bfez [13:23]: what
Andrew [13:23]: added to RDN short 8.78
bfez [13:24]: knight, you might know me but I've been with Gar when he first introduced Oracle 1 about 5 years ago.
Andrew [13:26]: This is a solid rally!
nester [13:26]: swing - FAZ at 16.28
bfez [13:26]: Note that FAZ did kiss 16.38, and will either hug 16.38 for a while or if crossed over will continue down to 15.60
Andrew [13:26]: Much better than I thought
knight [13:27]: at this moment , this market lost confidence in the banks and finance world - that's a world crisis because no one trust them anymore....
karenbcz [13:28]: ANDREW: U still in FAS?
Iswing64 [13:28]: Out faz
Andrew [13:28]: I wish
guymar [13:28]: guys, since november last year EUR or FXE has been preceding events
guymar [13:29]: look what it is doing now
knight [13:29]: you see how quick FAZ goes.... it's pure gambling = casino
Andrew [13:29]: added to ATPG short 13.10
guymar [13:29]: I'm preparing to go long
nester [13:29]: FAZ short 16.28
karenbcz [13:29]: FWIW ... the bottom TODAY, completes a complete 10% drop.
Andrew [13:29]: out half FAZ -0.8%
karenbcz [13:30]: FRom the DOW high on 4-26-10
Andrew [13:30]: ...in damage control mode with it
guymar [13:30]: do you remember my chickenscratch charts
guymar [13:31]: this we have bounced of the Gann resistance lines
karenbcz [13:31]: GUY: yes, what about them?
Iswing64 [13:31]: 7.5 % Gain on faz..glad thats over..
guymar [13:31]: I drew them after the "fat finger" crash
Andrew [13:31]: added to FAZ 16.13
guymar [13:31]: and they provided resistance and support all along the way
guymar [13:32]: ok, bottom is in
guymar [13:32]: (for now)
nester [13:32]: swing - great. you can pay for my bike now...
karenbcz [13:32]: GUY: you may be right. "Guru" I follow Naydam Wayat (sp) said 10% correction.
Andrew [13:32]: added to FAZ 16.13
guymar [13:32]: open FXE in the 60 min chart and look it's starting trending in the opposite direction
Andrew [13:33]: added to FAZ 16.16
Iswing64 [13:33]: lol..can hardly ride mine yet this year..bad weather
knight [13:33]: i am only looking how people on this board is changing of side so quick - that's may be why this market is unpredictable..
Andrew [13:33]: Big short squeeze there
karenbcz [13:34]: Knight: Because of the people on THIS board???? ROFLMAO!! all 20 of us are controlling the market???? ROFL!
knight [13:34]: apply that to million of trader and you got the perfect melting pot of pervertion
Andrew [13:36]: That was a really impressive market move in just 30 minutes.
knight [13:36]: ... and got a yoyo market driven by corruption and fear
bfez [13:37]: Knight, if you have pivot points created by Larson "Candlesticks and Pivot Points" on your software not how the
knight [13:37]: i think we should more secure rules to control the market
guymar [13:38]: june 133 call FXE
knight [13:38]: like germany is asking for
Iswing64 [13:38]: I should put pivots back on my charts.
bfez [13:39]: stock moves from pivot point to pivet point. Whem it breaks trough a pivot point it wile invariable come back to kiss it before moving again in the other direction.
Andrew [13:39]: out 1/3rd ATPG tiny loss
Andrew [13:40]: out FAZ tiny loss
Andrew [13:40]: out rest of ATPG -0.23%
bfez [13:41]: Notice FAZ is approaching the 15.38 pivot point, a natural resistance barrier. Those long on FAZ may do well to place stops there.
Andrew [13:41]: back in FAZ 16.28
guymar [13:42]: I have 15.897 & 15.440 as FAZ support
Andrew [13:42]: out RDN -0.3%
karenbcz [13:43]: If anyone cares to read Nadeem Walayat over the week-end, here's his blurb
karenbcz [13:43]: www.walayatstreet.com
Andrew [13:43]: added to FAZ 16.23
karenbcz [13:43]: See May 16 report
Andrew [13:44]: added to FAZ 16.14
guymar [13:44]: if we start trending in the 5' SPY now we have a rally on ....
guymar [13:44]: almost there
Andrew [13:45]: added to FAZ 16.12
knight [13:46]: exactly what i am saying karen
Andrew [13:46]: added to FAZ 16.20
karenbcz [13:46]: Knight: U read it already?
karenbcz [13:47]: Knight: Did you see where he's sees possible bottom? 9750 on the DOW.
bfez [13:47]: Those are also Resistance. Guymar. Just as 15.86 is support. But 15.66 is PP Support at 1st STD of Pivot Point.
knight [13:48]: not finish karen
bfez [13:48]: It's useful for planning Risk/Reward on at trade.
karenbcz [13:48]: Knight: most important ... look at chart down at bottom.
guymar [13:48]: yes
guymar [13:49]: I use the advanced get toolset to for it - hence my figures i posted
guymar [13:49]: numbers - prices
guymar [13:49]: getting tired
Andrew [13:50]: We're right back at that tricky 11:00am consolidation area.
nester [13:51]: out FAZ short +1%
Iswing64 [13:53]: I heard motoguzzi were good bike's..never seen one though.
nester [13:54]: nice ones. look them up on the net
Iswing64 [13:54]: will do..prolly spendy
nester [13:55]: i almost bought a '74 Nova with a 427 last week...
Iswing64 [13:56]: LOL.cool..
Iswing64 [13:56]: son has a 65 mustang..working on a new engine.
nester [13:56]: save me from fallin off a bike...
Iswing64 [13:57]: lol
guymar [13:57]: long SPY JUN 2010 110 Call 3.71
nester [13:57]: my wife points to my scar everytime i talk about a bike...
Andrew [13:58]: The financials have had trouble staying above their VWAP for significant time today.
Iswing64 [13:58]: I miss carving up the corners...can't do that on my harley
karenbcz [13:58]: Wow! Does FAZ look about to take off again?
Iswing64 [13:58]: lol nester
bfez [13:58]: Nester, Chevrolet introduced the Nova in
karenbcz [13:58]: FAZ
nester [13:59]: 62
bfez [14:00]: Nester, Chevrolet introduced the Nova in Latin America in the 70's and it didn't sell. Nova translated to English means "It doesn't go"
nester [14:00]: lol...
Iswing64 [14:00]: lol
Andrew [14:00]: I still like FAZ but a lot less confident in it than I was before 1:00pm-1:30pm
Andrew [14:03]: out 2/5ths FAZ +1.1%, just want to be sure to cover all my recent loss in it from the last hour
bfez [14:04]: Karen, put link on favorites for reference.
karenbcz [14:04]: Yep! There goes FAz again!
Iswing64 [14:04]: L faz 16.37 scottade down again!!
Iswing64 [14:05]: well the order got through
nester [14:05]: NEW YORK (MarketWatch) -- The euro spiked higher against the dollar in afternoon trading on Thursday, reversing a deep decline earlier after reaching levels that tripped significant orders above the current market level, according to Action Economics. Analysts also noted "chatter" about a meeting of the European Central Bank
Iswing64 [14:05]: but rest is not working
knight [14:06]: hey karen along walayastreet , we already got the bottom the v form
Andrew [14:06]: out 1/3rd remaining FAZ +2%
td [14:07]: Scottrade is never DOWN here
knight [14:08]: we might see a huge reversal soon
Iswing64 [14:09]: nevr had a problem before today..but my connection is a bit weak
Andrew [14:10]: out rest of FAZ +1%
Andrew [14:10]: I'm going to stop for the day. Good luck with your trades!
td [14:11]: Bye Andrew
bfez [14:11]: Bye, Andrew
Iswing64 [14:11]: cya andrew
Iswing64 [14:14]: Out faz small loss
knight [14:16]: we might see a huge reversal soon
knight [14:19]: look to me a good buy opp
karenbcz [14:20]: ok! Here comes the rally!
knight [14:20]: add seed 7,15
knight [14:21]: we need the dow cross over 10230
knight [14:21]: for a good sign
knight [14:21]: add fbp 1,4
karenbcz [14:23]: oh rats. I thought DOW would at least break 10,220
karenbcz [14:23]: there it goes!
Iswing64 [14:23]: L SOLF @ 6.05
knight [14:23]: still have FAZ short
karenbcz [14:24]: Andrew left at the wrong time!!!
Iswing64 [14:24]: lol
karenbcz [14:24]: he'll be back
knight [14:26]: tza short 7,6
karenbcz [14:27]: L FAZ 16.06
karenbcz [14:28]: just looking for a 0.10
karenbcz [14:30]: OUT 16.17
karenbcz [14:31]: i bet i cudda stayed in that for 0.20.
knight [14:33]: the chart looking good to cross 10230
karenbcz [14:33]: Knight: I was anticipating DOW 10,300 .. by EOD.
knight [14:34]: yes i think we will go over if we cross 10230
knight [14:36]: we did reach the bottom
knight [14:36]: the target for the manipulator to start the rally again toward 12000
fwguyus [14:37]: S has been moving up for a lil bit now, enter with caution..
Andrew [14:38]: The rally has been pretty nice.
Andrew [14:38]: Looks like a potential inverse head & shoulders if the buying can continue.
knight [14:40]: the train is looking good for a rally
knight [14:40]: RDN 8,8 for a bounce here
knight [14:43]: hov at 6 for a bounce too
knight [14:48]: we stay over 10230 - then we go up
Andrew [14:50]: Good call about the big reversal Knight.
knight [14:50]: peix look good too - add again
karenbcz [14:50]: Knight: perhaps we should be looking for cheapest stocks, most oversold .. i.e. ABK
karenbcz [14:50]: Dang!! ABK already reversed.
knight [14:50]: good idea karen
knight [14:51]: the one most beaten with reasons too
karenbcz [14:51]: Lor
karenbcz [14:51]: PEIX would be good ... hasn't started yet.
karenbcz [14:51]: Come on people .... place your bets!
karenbcz [14:51]: Post most beaten down cheapies.
bfez [14:52]: Bye, Folks. Got interested in Andrew's strategy in FAZ/FAS. This is the only in about 4 days which made sense.
Avalon [14:52]: I bet it won't snow in Maryland until December
knight [14:52]: i have add at.60, .61., .62, .63, .64
Andrew [14:52]: Which part did not make sense?
karenbcz [14:53]: dang! PCBC already bounced!
karenbcz [14:53]: the STRONGEST bounce FIRST!
knight [14:53]: look at hov,rdn,solf
Andrew [14:53]: The longer we hold up here the higher the chance this can turn into a huge short-squeeze rally.
karenbcz [14:53]: BIDU is rockin'!!
knight [14:53]: MANIPULATION THAT'S IT
bfez [14:53]: There is no momentum which sustains a trending trade probably because og the presence of many day traders.
bfez [14:54]: Today, I saw that momentum.
knight [14:54]: you see about the pivot theory --
knight [14:54]: always depend what's manipulator want bring the market
Andrew [14:55]: Sneak attack by the bulls today mid-day, reminds me of some days in early 2009 that led to multiple point rallies in the last hour.
karenbcz [14:55]: KERX started already too ... $4.59
bfez [14:55]: knight, do you know it? It's available from Amazon. Schwab has programmed it in Street Smart Pro.
knight [14:55]: always depend where manipulator want bring the market
karenbcz [14:55]: SOMX
karenbcz [14:56]: SIRI ALREADY started going up 0.99 now
karenbcz [14:56]: was 0.95
knight [14:56]: next step the dow need to cross over 10275 to confirm the market is turning
td [14:56]: knight I wish I knew how
Andrew [14:56]: I think now the most heavily shorted stocks could be the best to buy.
karenbcz [14:57]: Andrew yes, that's what I said ... you guys should be posting your pics.
karenbcz [14:57]: i also said you'd be back. LOL!
karenbcz [14:57]: FNM
nester [14:57]: SAN FRANCISCO (MarketWatch) -- Crude-oil futures dropped 2.3% on Thursday on jitters about a potential decline in demand for oil amid worries Europe could derail the global recovery. Crude for July delivery, the most active contract, lost $1.68 to settle at $70.80 a barrel. Gasoline for June delivery fell 5 cents, or 2.5%, to $1.9645 a gallon, its lowest price since mid February
karenbcz [14:58]: FNM hasn't moved yet. @ 0.90
Iswing64 [14:58]: Out solf +2%
Andrew [14:59]: Shortly after 2:00pm I lost my strong short bias but was unsure about longs so I figured it would be good to take a time out.
karenbcz [14:59]: Knight: Oh nooooooooooo!!! DOWN going back down!!
Andrew [15:00]: It's prime head-fake time of day right now.
karenbcz [15:00]: well, DOW did make it to 10,250.
Andrew [15:00]: long FAS 23.77
knight [15:01]: the market need to confirm , will touch 10200-10220 AND UP AGAIN
karenbcz [15:01]: Knight: I want to see it above 10,250 again.
knight [15:01]: ALWAYS HAVE THE BEAR WHO WANT TO TRY TO SEND DOWN THIS MARKET BEFORE TO COVER
Andrew [15:01]: tripled up on FAS 23.78
knight [15:02]: it'a a normal process and then we will rally as crazy
karenbcz [15:03]: Knight: we should prolly get pics off Gars list ... I already posted SIRI, KERX, SOMX, FNM
knight [15:04]: from where karen ?
karenbcz [15:04]: from StockVision ... I post a lot of pics that are NOT in SV database.
Andrew [15:05]: TSL looks interesting
Andrew [15:05]: Pretty over-extended though
Andrew [15:05]: The solars are really hot right now though
karenbcz [15:06]: Remember CIGX?
knight [15:06]: we look for bargain andrew - not the highest
bfez [15:06]: Nester, are you the Nester in some of Gar's strategies?
nester [15:06]: bfez - yes, same one
td [15:07]: Wow look @ the decay
Avalon [15:07]: TGT good bounce
Andrew [15:07]: added to FAS 23.46
nester [15:07]: FAZ $16 calls $2.37
bfez [15:07]: Good for you. I'll try them.
Andrew [15:07]: added to FAS 23.57
karenbcz [15:07]: lreadynooooooooooooo!!ll, .:>(
karenbcz [15:08]: Knight: DOW going the WRONG way .... long perhaps not a good plan
nester [15:08]: they are great for identifing swing trades. modify the price and volume as you like
knight [15:08]: i know - nervous market - let see the next bouce...
Andrew [15:08]: I think this could just be a shakeout fake to scare longs.
knight [15:09]: wait at 3:30 pm we start the rally to cover
knight [15:09]: it's gone be ugly
Gar [15:12]: Here for the final 45 minutes. What a wild market today.
Gar [15:13]: If you want to know what was behind that near 200 point Dow rally, look at the intraday of FXE (Euro). There is a wild spike up like I have never seen before in my life.
picker304 [15:13]: Isn't it a marvelous day???
Gar [15:14]: If you're on the right side of the wild swings, it doesn't get better than this.
Andrew [15:14]: Wow, FXE is nuts
nester [15:14]: pick - love these days...
picker304 [15:14]: I did and I'm happy. Like I saud isn't it a marvelous day? LOL
picker304 [15:15]: Me too nester ........easy
Gar [15:15]: FXE is starting to decay off that insane spike, which means the market should sink again.
kotarah [15:15]: KERX
Andrew [15:15]: out half FAS -0.8%
Gar [15:16]: The A/D line is "only" -18 to one. I say "only" because earlier today it was 29 to 1. I don't think I have ever seen it that negative.
Andrew [15:16]: added back to FAS 23.53
Andrew [15:16]: added to FAS 23.58 (double position)
knight [15:16]: euro is doing better and market sink ???? why Gar ????
knight [15:17]: make none sense....
Sandman [15:17]: Hi Gar just had to tell you that I did my first ETF (FAZ) made 6.53%=$686.14. Thanks alot.
Gar [15:18]: knight, the exact opposite is true. The Dow was -350, the Euro spiked and the Dow ramped up almost 200 points. Where I come from, that means the market got "better."
karenbcz [15:18]: Knight: the DOW DID spike up 200 pts. on FXE move.
Gar [15:18]: Sandman, do you still hold or did you exit?
knight [15:19]: you means down karen ???
Sandman [15:19]: Bought at $14.99 sold at $15.99.
Andrew [15:19]: Nice job
Gar [15:19]: Wow Sandman, that's great. Now you know money can be made on the downside.
Gar [15:20]: Keep in mind everyone that tomorrow is options expiration, which means...anything. Market could do crazy gyrations that make no sense.
karenbcz [15:20]: Knight: no. Overlay FXE with DOW> When FXE rallied DOW went from 10,100 to 10,250.
nester [15:20]: NOVL $6 calls $0.35
karenbcz [15:21]: Knight: that was @ 1:04PM. see FXE and DOW charts.
Gar [15:21]: A good options play soon might be VIX puts.
Andrew [15:22]: Those VIX etfs look kind of interesting... VXX and VXZ
compoundgains [15:22]: Trades for today; not holding anything. AEZ(1.020)IRE(1.021)CLDX(0.982)WNC(0.963)IRE(1.019)AGEN(1.017)AEN(1.017)CIGX(1.024)AGEN(1.018)WNC(1.025)IRE(1.045)RS0(1.008) Net gain=+1.3%...seems like a lot of work. Guess I could try and figure out how to let winners run longer.
nester [15:23]: for those looking for longs, NOVL may be a decent swing...
Sandman [15:23]: Andrew I didn't know they had ETF's on the VIX. I all ways watch the VIX.
karenbcz [15:23]: GAR: you meant VIX calls didn't you?
Andrew [15:23]: Where you would normally exit your entire position, instead sell 75% and set a wide stop for the other 25% and take it off your screen so you won't micro-manage it. Easier said than done though.
Gar [15:24]: No, VIX puts. Because VIX is going to get too high pretty soon. One spiking rally will plummet the VIX.
Andrew [15:24]: Yes, 2 different companies have funds for the VIX.
bfez [15:24]: Yes, Andrew. What you do takes nerves of steel.
Gar [15:24]: I wouldn't buy VIX calls at this level, they would be too expensive.
karenbcz [15:24]: XE over $DJI ... when FXE rallied DOW 10,100 to 10.250?
karenbcz [15:25]: Gar: Oh! So, you ARE anticipating a rally on the DOW
Andrew [15:25]: Actually it's just Barclays for both.
Gar [15:25]: Well sure karen, eventually. Can't go down forever. Not sure when, however.
Andrew [15:25]: out 2/5ths FAS +1.1%, just want to make up for my earlier loss in it
carr [15:25]: Gar never mind my email
knight [15:26]: let see 3:30 pm is coming
Gar [15:26]: There remains visial evidence of an attempt to jam the market up again. You would think they would have learned their lesson.
karenbcz [15:26]: Gar: but if you're saying buy VIX puts, I'm assuming you mean NEARTIME>
knight [15:26]: what's manipulator want ?
karenbcz [15:26]: NEARTERM.
Andrew [15:26]: I think there's maybe a 20% chance on a HUGE short squeeze rally in the last half hour.
Gar [15:26]: Well options are always near term. You never want to hold them for long periods because they decay.
majour [15:26]: Knight , look at HOV
karenbcz [15:27]: Gar: I meant in reference to your "down forever" comment.
Gar [15:28]: Well, even a long term downtrend is a sawtooth. Up, down, up, down, with the "down" making lower lows. So very soon, these bozos will spike the market up. If we are still on a downtrend, it will be to no avail, but still up for a day or so.
knight [15:28]: nice pick majour
Gar [15:29]: Consider a week ago Monday. That insane, monster rally. Talk about to no avail.
knight [15:29]: what is the symbol for vix in SV
Andrew [15:29]: There was a ton of buying volume mid-day in the market. That's not too common.
Gar [15:29]: I still insist that the Dow "wants" to go to the low on that mega spike day (-1000). Whatever that level was, that's where it thinks it should be. We will likely get there.
karenbcz [15:30]: Gar: We're BELOW there.
knight [15:31]: ... if we are not there... that's means it's was already program in the system.... gar
Gar [15:31]: No I don't think so. I recall the Dow spiked to high 9,000's.
jlm1 [15:31]: No it went to 9800 plus a few
Andrew [15:31]: Nope we're way above there. SPY fell to 105.00 and today its low was near 107.60.
knight [15:32]: hey look at my peix from .60 to .69 300 K shares - not bad for a bad day
karenbcz [15:32]: My ToS chart not showig 9800. :>(
Andrew [15:32]: Whoa, 300,000 shares of a stock. Your broker must love you.
jlm1 [15:32]: sp500 was 1065.79 at low end of spike
Sandman [15:32]: Gar the DOW on 5/6/2010=high price 10879.76=Low price 9869.62.
Gar [15:33]: That sounds right. Somewhere near 9800.
knight [15:33]: only 180 K andrew
Gar [15:33]: My theory is that it wants to go back to that level. That's where we could bounce hard.
jlm1 [15:33]: 9869.62
karenbcz [15:33]: ok. got it.
Gar [15:33]: "only" 180K. Lol. I could save Garsworld with that kind of cash.
Andrew [15:34]: That's some position sizes I'd have a hard time managing unless I work up to them very very gradually.
karenbcz [15:34]: Gar: "save"???? Gar, you're scaring me!
knight [15:34]: i do trade many time with more $$$
Gar [15:35]: Well perhaps "save" was a poor choice of words karen.
knight [15:35]: i hope
Gar [15:35]: A better phrase maybe would be "ramp up to success."
bfez [15:35]: Gar, did you find some investors?
karenbcz [15:35]: Gar: Just do daily You-tube videos .... you'll get tons of subs.
Gar [15:36]: I've tried that already karen. It did almost nothing. Reason is they don't get found in an ocean of other videos.
karenbcz [15:36]: Gar: you won't believe the people on U-tube who are FOS, who have thousands of subscribers.
Andrew [15:36]: long MNI 4.25
knight [15:36]: there is such many competition in that domain and so many guru like cramer saying bullship
karenbcz [15:36]: Gar: too bad!
Gar [15:37]: knight is right. It is very difficult to get past the b/s. Very crowded space.
knight [15:37]: that's why , it's a tought lane to have success - need a lot $$$ to make publicity for SV
Gar [15:38]: However, I have the answer. Going to start weekly webinars soon. Sone free, some for a fee. But that is where the answer lies.
bfez [15:38]: A\Gar, are your videos still on You Tube?
Andrew [15:38]: out 2/3rds FAS -0.3%
Gar [15:38]: That is correct knight. Which is really what I meant about the $180K. Of course more than that is needed, I was being semi sarcastic.
Andrew [15:38]: added to FAS 23.44
knight [15:39]: you need to approach some tv show and proof you product with people like us
jlm1 [15:39]: It has been a long time since the volume incator has been green all day.
karenbcz [15:39]: Gar: the webinars are a good idea ... but you're gonna need to reach millions of people for that aren't you?
Andrew [15:39]: Yeah. I wonder how high it will finish up - maybe +30%?
Gar [15:39]: Yeah and it's interesting the high volume is only on a down day.
picker304 [15:39]: Gar start charging a 25 monthly fee Nobody gonna leave here. we like it too much. I'll just do away a night of dinner once a month and give you the 25-30 instead
Gar [15:40]: karen, no. Because SV has several hundreds users. For starters, about 40-50 of them would do it.
Andrew [15:40]: out MNI -0.47%
Gar [15:40]: picker, maybe they would, but new people would plummet. New prospects HATE the monthly charge thing.
Gar [15:41]: I know that because 3/4 of the people who buy literally say the one-time fee is the #1 reason they bought.
Andrew [15:41]: added to FAS 23.47
karenbcz [15:41]: GAR: agree ... most people jumped @ membership because of ONE-time fee.
karenbcz [15:42]: especially considering ... if you go to investimonials, how many FREE chatrooms there are ...
picker304 [15:42]: If we will treat them as family they would stay Iknow what I'm talking about been dealing with public for thirty years need to have a welcome committee and evaen a different chatroom for it. Make them warm and cozy
Sandman [15:42]: I didn't buy because it was a one time fee. I bought it to learn what to do.
Andrew [15:42]: added to FAS 23.46
karenbcz [15:43]: Yeah, but SANDMAN ... you're rich!
karenbcz [15:43]: :>)
Gar [15:43]: I agree that there is money to be made for dedicated users. But I think this can be done for optional activities. Like...webinars.
Andrew [15:43]: out FAS -0.6%
karenbcz [15:43]: SAND: You bigtime FAZ trader you! :>)
jlm1 [15:43]: options expiration tomorrow but is it triple witching?
knight [15:43]: look at vectorvest , they send me publicity very often , they charge montlhy fee - i have try it and stop using it - no good for me
picker304 [15:43]: give it free for a week let me and carr take care of them in another enviroment they'll stay
Sandman [15:43]: Love youkarenbcz.
Gar [15:44]: I'll bet if I took a survey of every user and asked if they would attend webinars given by me, to show various winning techniques, how to use SV, etc., and they could ask questions, I'll bet I could pack the house.
karenbcz [15:44]: Knight-VVest sucks for daytrading.
Iswing64 [15:44]: L FAZ
Andrew [15:44]: I think I've seen an ad for that on tv.
Gar [15:44]: hmm. The close is causing renewed pounding. Different pattern than usual.
Iswing64 [15:44]: 16.29
bfez [15:45]: Gar, most person expanding with webinars must build an opt - in list. You can advertise on EBay (not auction).
Gar [15:45]: Well whatta ya know, FXE has fallen.
Andrew [15:45]: Today's been a tough market unless you're just trading actively move-to-move.
jlm1 [15:45]: and indicators reset a bit more red
bfez [15:45]: for as little as $39.00 monthly.
karenbcz [15:45]: We NEED to watch the FXE minute-by-minute.
Gar [15:46]: Trend is still clearly down. That said, tomorrow, who knows, because options expiration can cause crazy and nonsensical moves.
Andrew [15:46]: back short CROX 9.00
knight [15:46]: nothing is surprising me no more now
karenbcz [15:46]: GAR: well for the MOST people to lose money, market would have to be FLAT.
picker304 [15:46]: Gotta go teach. Have a great evening everyone
karenbcz [15:46]: bye pick
Iswing64 [15:47]: bye pick.
knight [15:47]: they jam this market down again - going deeper....
karenbcz [15:48]: Man!! Look atFAZ. The little ETF that could!
moejd [15:48]: Just sent out the latest elliot wave from last night. there will be another tonight I will send out as soon as I get it
kotarah [15:48]: Gar these are the same people saying dows going to sky rocket yada yada
knight [15:48]: the target is not reach yet....
Andrew [15:48]: Tricky stuff for both the bulls and the bears today
Gar [15:48]: I think the Dow needs to hit 9800 for a real bounce.
knight [15:49]: funny - 7-10 minutes only
knight [15:49]: why the system is posting 2 times gar
Gar [15:50]: That's a bug in the forum when the connection is slow.
kotarah [15:50]: Articals written in the last few day says you wont recognise the market by years end and to start getting liquid
madriver [15:50]: 9250
Andrew [15:51]: In what ways do they think the market will be different, kotarah?
madriver [15:51]: if you say obama i might have to hurt you
Iswing64 [15:51]: lol
kotarah [15:52]: As i mentioned before the Euro is sliding and could destablize the world economy
Gar [15:52]: The trick to know when the market bottoms is to keep your ear tuned for sentiment. When everyone turns into a bear, that's the bottom.
madriver [15:52]: tell us something we didin't know
madriver [15:52]: EURO...what't that
Sandman [15:53]: Is there an indicator to tell the sentiment?
madriver [15:53]: kotarah give us some real info........
nester [15:53]: LOVE FAZ !!!
Andrew [15:53]: Very bearish close
Gar [15:53]: No, you need to listen to analysts and other pundits. When the majority of them are bearish, we are at or near the bottom.
Iswing64 [15:53]: Hell yea!!
madriver [15:53]: vix
Andrew [15:54]: ...makes me wonder what all that buying from 10:30am to 11:30am and 1:00pm to 3:00pm was all about.
nester [15:54]: swing - you got back in?
kotarah [15:54]: A month ago we spoke about the same thing fundamentals were being thrown out this drop will continue
madriver [15:54]: doesn't the vix give some indication Gar?
Iswing64 [15:54]: yep 16.29
td [15:54]: Sandman go to FINVIZ,com see just below S&p chart
Andrew [15:55]: Whoa, I'm glad I didn't get stubborn on FAS there.
nester [15:55]: great. i'm up 14% on my calls
Iswing64 [15:55]: Sweet!!!!
moejd [15:55]: Minor wave 3 down should be far larger in size than Minor wave 1, which means the Dow should drop toward 8500 or lower prior to ending this degree of decline. The S&P should descend toward 900 or lower before wave 3 is complete.
kotarah [15:55]: theonly thing I agree with Gar is VIX will go back down then probably spike again
123 [15:55]: I'm up well over 100% on my erx puts I posted 5-10
karenbcz [15:56]: Put/Call ratio gives sentiment.
knight [15:56]: back at lowest of the day....
Andrew [15:56]: Lunar bounce anyone?
123 [15:56]: june expire
nester [15:56]: hey 123. still have those... good deal
karenbcz [15:56]: woooo ... we're gonna glose at THE LOW of the day.
bumpmn [15:56]: haha, man that could be a good lunar bounce but yikes
bumpmn [15:56]: you gonna get in andrew?
kotarah [15:57]: The EURO will continue to slide
123 [15:57]: yep nester holding for S&P 1040-1065 range
Andrew [15:57]: I'm tempted but I think the volatility is kind of too scary right now for overnight holds. I think I'd just try and catch the gap trade tomorrow morning near the bell.
madriver [15:57]: down the river we go
Sandman [15:58]: Thanks td.
Gar [15:58]: Kramer would be a good one to follow. When he finally turns bearish, go long with everything you have.
karenbcz [15:58]: Geesh! Faz UP $2 since close last nite!
Iswing64 [15:58]: lol
td [15:58]: YW Sandman
Andrew [15:58]: In Cramer's defense he seemed to be steering people away from buying after 5/6.
kotarah [15:58]: Oh listen to Cramer
Gar [15:58]: Hey I gotta take off...will try to be here tomorrow.
madriver [15:58]: the world is ending!!!!!
kotarah [15:59]: he does the opposit what he tells you
madriver [15:59]: it would kinda suck if long alot of postions
Iswing64 [15:59]: Out FAZ
Andy [15:59]: shouldn't the circuit breaker kick in
Andrew [15:59]: out CROX +0.4%, stupid stock
kotarah [15:59]: AEZS turns positive
karenbcz [16:00]: close LOW of the day!
Andrew [16:00]: Which circuit breaker?
bfez [16:00]: Cramer freely admits that he manipulates the market. On You Yube.
Andy [16:00]: that was a joke
bfez [16:00]: Tube
knight [16:00]: what a zoo ...
Andrew [16:00]: http://www.nyse.com/press/circuit_breakers.html
kotarah [16:00]: He's a clown
nester [16:00]: FAZ over $17
Andrew [16:01]: I enjoyed his book about his hedge fund.
kotarah [16:01]: $16.941
madriver [16:01]: circuit breaker is like at 1,000 points isn't it??
123 [16:01]: s&p closed on low of day
madriver [16:02]: knight....are you long or something?
Andrew [16:02]: 1,050 points
madriver [16:02]: seem a little testy?
Iswing64 [16:02]: +4% FAZ..long..
kotarah [16:02]: Andrew you should read DARK STAR all about him
Andrew [16:02]: There is talking of abandoning the dow as a metric for circuit breakers though and focusing on the S&P instead.
Iswing64 [16:02]: i think he shorted faz mad
Andrew [16:03]: Tomorrow's going to be a wild ride again.
kotarah [16:03]: OH YEAH cant wait
123 [16:04]: S&P and dow closed below 200ema on daily
Andrew [16:04]: The action today was pretty horrible in terms of all the trend changes. Volatile days can get a whole lot easier than today.
nester [16:04]: got to get... have a good nite
bfez [16:05]: Andrew, a lot of good runs on FAZ today? This is not the norm, is it?
madriver [16:05]: later nester
bfez [16:05]: bye, Nester
Andrew [16:05]: In what sense bfez?
madriver [16:05]: normal..
Iswing64 [16:06]: C'ya nester
bfez [16:06]: It seems that your type of investing does better when the market is more quiet, but you seem to favor FAZ/FAS.
Andrew [16:06]: A lot of very volatile days back in 2008-2009 have a much more consistent trend than today.
bfez [16:07]: That's what I thought.
Andrew [16:07]: The exact opposite bfez. I would never use this style of trading in a million years if the VIX wasn't above 25 right now.
Andrew [16:08]: If the market is quiet, much better off finding an individual stock making a large move on huge news and huge volume.
bfez [16:09]: When you are buying on the way down, you need for FAZ to go up. In a non trending day it would seen you would have more opportunity to get
bfez [16:10]: small profits with less at risk.
Andrew [16:10]: I normally don't want to sit through any trade in it going against me though. So if it isn't trending then I'd probably be exiting all day for -0.5% losses over and over again and then maybe just catch a single 1% move.
Andrew [16:11]: With the volatility so high I can put myself in lots of 'coin-flip' situations where I can either lose about 1.25%, or make at least 2.5%.
Andrew [16:11]: And I can do this over and over again for the whole day.
bfez [16:11]: On that I agree. SV is great at finding them. I wish I could size the screen to be able to
bfez [16:12]: place both SV and Street Smart Pro together.
carr [16:12]: Good night all. My day was not very good. If SEED drops about another 20 cents tomorrow, my puts will be good and I will be happy.
bfez [16:13]: bye Carr
Andrew [16:13]: Bye carr. I hope tomorrow's a lot better for you. Every day can't be red, right.
kotarah [16:16]: This is what your not getting ANDREW
kotarah [16:16]: Stocks Slammed Amid Global Jitters, Dow Plunges 376; S&P, Nasdaq in Correction Territory- AP
bfez [16:16]: Andrew, I trade with momentum using the Stochastic %K = 6 as my Oscillator. Don't go Long
bfez [16:17]: unless over 75, etc. Of course looking at charts and volume.
bfez [16:18]: Use Pivit Points for direction and Risk/Reward.
Andrew [16:18]: In the big picture, I've been very bearish for months. At the same time though, the market is still holding above its 50-week moving average, so the breakdown hasn't killed the rally yet. Based on the strength of the market over the last 12 months, it's innocent until proven guilty.
bfez [16:19]: For direction of Support/Resistance.
bfez [16:19]: I agree, but I'm a big fundamental bear which must break down.
Andrew [16:20]: It hasn't yet had a real test of the Feb. low, let alone where it bounced from in Nov.
kotarah [16:21]: Well for the last several days it's nasty watch your 50day MA it will go well below in the coming days based on just posted material JITTERS EURO It's coming
Andrew [16:21]: It's certainly highly suspect though.
bfez [16:22]: Economy is being controlled. I follow Dan Worden's notes on Telechart
Iswing64 [16:23]: Hey how do you like telechart bfez??
Iswing64 [16:23]: How much doe's it cost?
kotarah [16:23]: Global events trump everything you mentioned and signs point to more of the same ..Weeks ago in a brief chat I asked you who's going to bail out the rest of the EURO nations???the answer is nobody not enough money to go around.
bfez [16:24]: Had telechart since 1996, when I retired. It gives me a good insight on the market and the software is exceptional.
kotarah [16:25]: WORDEN
bfez [16:25]: $29.95 for EOD and $99.00 for Real Time with feed.
bfez [16:25]: Worden owns Telechart
kotarah [16:25]: I use WORDEN platinum
Iswing64 [16:26]: Ok..The real time data ia not delayed?
moby [16:26]: worden platinum must be sweet
kotarah [16:26]: NO
bfez [16:26]: Do you do both SV and Platinum and trade all at the same time?
kotarah [16:26]: IT is ask your friend bfez
Iswing64 [16:27]: Thanx guys..
bfez [16:27]: I have the end of day. Prefer SV from time-to-time.
kotarah [16:28]: I do not use this SV program at all even though it works for some I got it for trap door and traps
bfez [16:29]: But the traps shoot off faster than I can catch them.
moby [16:29]: kotarah, you have some nice real-time scans for worden, bollinger stuff perhaps, williams %R?
kotarah [16:30]: I have experimented with alot of programs WORDEN takes the prize for me and free chart.com for $20 a month you cant beat it
bfez [16:31]: These are all included. But there are three proprietary scans or screes which are invredibly accurate as to future direction.
karenbcz [16:31]: Freestockcharts.com? What are you paying $20 for, kotarah?
kotarah [16:31]: Yes all that and more
karenbcz [16:31]: I don't pay anything.
kotarah [16:32]: realtime WORDEN owns that too
kotarah [16:32]: I pay for beter scans and no adds
bfez [16:33]: Freestockcharts.com is Worden's real time scanner. It's free to subscibers of Telechart, daily
karenbcz [16:33]: Kotarah: have you ever used the going up/down fast feature on FreeSC??
bfez [16:33]: or Real Time
kotarah [16:34]: yes it is I have it for $20 amonth on another computer no adds and scans
karenbcz [16:34]: Kotar: Cause I can't seem to make it work properly.
kotarah [16:34]: I also use tele chart on main computer
kotarah [16:35]: You cant have both at the same time
kotarah [16:35]: What is it you cant use???
karenbcz [16:36]: kids home from school ... be back later.
kotarah [16:37]: no I use my own criteria set it and whatever pops up I pull it up and can see realtime whats actually happening
kotarah [16:37]: on charts
kotarah [16:38]: And for bfez the gold edition on WORDEN is no longer offered
Iswing64 [16:39]: Is freestockcharts.com real time data?? Can you 1 min charts on that?
Iswing64 [16:39]: get
kotarah [16:39]: YES BAT exchange
kotarah [16:39]: YES 1 min charts
Iswing64 [16:39]: for 20.00 a month?
Iswing64 [16:40]: too cheap?
kotarah [16:40]: I called a month ago to switch credit cards an was told the GOLD version is no longer available
bfez [16:40]: Kotarah, I have Gold and have not heard of an change.
kotarah [16:41]: They told me it was no longer $19.95
kotarah [16:42]: you can go to freecharts.com and see for yourself click on the WORDEN tab and look at what is offered TELE CHARTS ect
kotarah [16:43]: Are you a long time member???
bfez [16:43]: I've always paid $29.95/mo for Gold. For an additional 10.00 per month you can have their new technolgy program.
bfez [16:43]: Since 1996
kotarah [16:44]: I have been there for a while and I bought the gold at $19.95 amonth
bfez [16:44]: In their new program you can program what you want or use their canned scans.
bfez [16:44]: Too old and too dumb for that.
kotarah [16:45]: I am satisfied with the orignal program works extremely well for me I have made good money from the scans alone
kotarah [16:46]: OH you want it all done for you I get it
bfez [16:46]: I agree. I'm waiting for a major correction so that I can buy dividend payin stocks especially in oil and mining.
kotarah [16:47]: I use invest 4 you as well to verify buys with signal indications you wont have to wait long bfez
kotarah [16:48]: are you a DRIP player too bfez
bfez [16:51]: Went to Worden.com. Gold is 29.95 and Gold Suite with new program Stock Finder is $39.95
kotarah [16:52]: Iswing 64 if something works means your at the waterhole I cant make you drink the water I pay the same as bfez over 100 a month
bfez [16:52]: No.
kotarah [16:52]: I only pay $19.95
bfez [16:53]: I'll go to Invest4you.com tonight. thanks.
kotarah [16:54]: It is the main program for me extremely accurate
bfez [16:54]: You bought it annually? You get 4 month free, and price is around $19.95
Iswing64 [16:54]: I have swingtracker love it but data is a tad slow
Iswing64 [16:55]: &49.00 a month
Iswing64 [16:55]: great scans also
kotarah [16:55]: I got the free offer then paid for one year once you understand it you will never use anything else a s a reference
kotarah [16:56]: you should ask bfez how he likes WORDEN
bfez [16:58]: Kotarah, I've had it since 1996. It's my staple. It also seemlessly feeds Visual Trader by Nirvana.com
bfez [16:58]: EOD
kotarah [16:58]: For the program bfez it sounds to good to be true i can assure you it is the best Ive used and I have used swingtracker as well
Iswing64 [16:58]: I was just lookig at invest4you last night.. interesting.
bfez [16:59]: I put it on my favorites list to look at tonight.
kotarah [17:00]: Youll toss that away after using invest4you
kotarah [17:01]: It has not been a web site easly found something like stockvision
Iswing64 [17:01]: Oh you like invest4you??
kotarah [17:02]: If you need any help i will explain it for you but its simple and very very acurate cheap too
Iswing64 [17:02]: ok...not for daytrading though right?
kotarah [17:03]: I have used it for 1 and a half years I have made easily 100k
Iswing64 [17:03]: looks like weekly daily charts only yes?
Iswing64 [17:03]: WOW
bfez [17:04]: Day Trading?
Iswing64 [17:04]: for swing yes?
kotarah [17:05]: It is usually longer term however Ive seen a spike on some stocks teh same day but over all its long/ medium it tells you when and why to buy sell by indicators
Iswing64 [17:06]: I see that...looks cool..must be accurate enough to win
karenbcz [17:07]: Is this it??? invest4you
karenbcz [17:07]: http://www.invest4you.com/index.cfm
kotarah [17:07]: If you use realtime charts 1 minute 5 / daily put in scans and enter in the main program you may be suprised how it works but it does
kotarah [17:07]: yes
karenbcz [17:07]: i think i've got the wrong one.
kotarah [17:08]: no invest4you.com
kotarah [17:08]: It is a huge program
karenbcz [17:08]: http://www.invest4you.com/splash.cfm
kotarah [17:08]: try it out you have nothing to lose
karenbcz [17:08]: please post url.
Iswing64 [17:09]: Thanx kotarah..i signed up last night but havent gone through it yet.
kotarah [17:09]: hang on using another computer
kotarah [17:11]: invest4y.com karen
bfez [17:11]: What I see is an Annuity site.
kotarah [17:12]: You will take a while to familarize your self with it like I said its the best
karenbcz [17:12]: wow!!
bfez [17:13]: Jaybird, you're not idle. I renmember you from years ago.
bfez [17:14]: Good evening. Wife telling me that dinner's ready.
kotarah [17:15]: you can use stockvision and invest4y.com enter stockvision data and just watch I use it with briefing .com as well and the live charts I think i have a winning combo
kotarah [17:15]: ok talk later bfez
kotarah [17:16]: Well Karen your at the waterhole all you have to do is drink
karenbcz [17:17]: Kotarah: I'll be drinking all week-end. THANKS, Kotarah!! G*d Bless You! :>)
karenbcz [17:18]: Kotarah: did you play FAZ today?
karenbcz [17:19]: Oh!! Ya' know who has software similar to this????
karenbcz [17:19]: MarketClub.com ... they use "trade triangles".
kotarah [17:19]: Your welcome you can test drive it first you will see exactly how to make money using it .Because of extreme market volitility pay atentsion to the markers especially the red ones I
karenbcz [17:20]: I used their trial, but never got the hang of it. Seemed their "triangles" were too late.
karenbcz [17:20]: Kotarah: I will pay attention. Thanks so much!!
kotarah [17:21]: So does alot of others but this software is not the same meta stock also uses this but again it is not the same you wont believe this program youll be asking yourself why i didnt have it before
karenbcz [17:22]: Kotar: Does the sub include realtime charts?
kotarah [17:22]: these are not late
karenbcz [17:23]: Holy smokes! I just clicked the DEMO video, and it took me to Freestockcharts.com!
kotarah [17:24]: No the data is not realtime in the sense of imediate but it does update quite often If you use realtime charts all you have to do is once a scan picks up something use the program to verify youll get a very accure reading
karenbcz [17:24]: http://www.invest4y.com/stock-chart.php .... I clicked "View Free Live Charts Now" .. wrong thing I guess ..
karenbcz [17:25]: Ok. excellent!
karenbcz [17:25]: Thank Youuuuuuu!
kotarah [17:26]: you have to enter a select stock list it can be in the 100's it will continue to update every 5/10 minute
kotarah [17:27]: I made 100 k since using it by itself I made more in using it with Brifing and worden it is invaluable
kotarah [17:29]: it does what you and andrew like to do short stuff buy stuff but it will give you the trend you can monitor a whole exchange in on go if you like
kotarah [17:30]: You can monitor 4 tile windows at a time this is why I use 3 computers running fulltime
kotarah [17:37]: Im out now see you all tomorrow
moejd [18:57]: going to post some of the latest elliottwave update
moejd [18:59]: Minor wave 3 down remains underway and is nowhere near its terminus. Countertrend rallies will be sharp, but the wave formation indicates that the market's main path should remain down.
Yes, the stock market is deeply oversold by many metrics. But context is key when assessing all technical measures. For instance, many pundits cited last Monday's (May 10) very strong 18-to-1 positive NYSE a/d ratio as evidence that the May 6 low (9869.60 in the Dow and 1065.79 in the S&P) was the bottom of a stock correction that started April 26 and that the market was starting another rally phase to a new recovery high. In a bull market this view would be utterly reasonable, with the strong a/d's marking a "kick-off" to the upside. However, in the context of a bear market rally, a very strong a/d ratio oftentimes occurs near the end of a rally and signals a final bout of near-term euphoria, the type of optimistic extreme coincident with a market high. We even published a chart in last Monday's Update that showed the exact same 18-to-1 positive a/d ratio on October 13, 2008, the day prior to the top of a brief but sharp bear-market bounce. The Dow fell 34% over the next 5 months to March 2009. In the current context, the market's deep oversold condition is exactly what an analyst should expect with the blue-chips entering the mid-point of Minor wave 3 down. Most of the market's intense historical declines started after stocks were deeply oversold and unable to rally.
How broad-based was today's decline? All the stocks in the Dow Industrials closed the day lower. All the stocks in the Dow Transportation Average closed the day down. All the stocks in the Dow Jones Utilities Average closed the day in negative territory. And of the 500 stocks that comprise the S&P 500, 497 of them closed the day down. The three stocks that ended the day up? Ross, TJX and Mastercard. NYSE volume spiked to over 2.1 billion shares traded, increasing again on a down day. Downside volume was a huge 98.8% of total volume.
We've discussed our position that the steep decline from April 26 to May 6 was not precipitated by fat-fingered "Freddy," a view that has since been confirmed by governmental investigation. The decline was a normal Elliott wave, Minor wave 1 down. With a series of several "ones and twos" down, the market's decline should, at some impending point, accelerate lower, with the Dow coming under 9000 over the next several weeks as Minor wave 3 progresses. The inevitable near-term bounces along the way down should be sharp, possibly scary but relatively brief.
moejd [18:59]: The above chart details the wave structure. There are a different ways to interpret the degree of wave labels of each leg lower, depending on how aggressive one wants to view the market's downside potential. The wave labels we present are probably the most aggressive interpretation of the near-term structure. It implies a sharp break lower tomorrow, likely accompanied by a high-degree of panic as the market waterfalls lower in a "third of third" wave decline. But with a closing NYSE TRIN of 4.03, the highest close since November 27 of last year, which was a near-term market low, we have to acknowledge that the blue-chips may be completing five waves down from Tuesday's high (1148.66 in the S&P and 10,718.90 in the DJIA). One could even make a case that the market is near the end of a fifth wave from the May 13 highs, which, when complete, would be Minute wave i (circle) of Minor wave 3. The latter two interpretations allow for the "sharp and possibly scary" bounce noted above. If the S&P opens sharply higher tomorrow and immediately rises above 1095, then odds would favor one of the latter two scenarios, with a rise toward 1110 or possibly higher before the next leg down begins. But if the market opens flat or lower, the downside potential could be huge. Ultimately, each way of labeling the decline gets one to the same place: lower prices that, at its end, will constitute Minor wave 3 down.
moejd [19:00]: Both the DJIA and S&P closed beneath their respective 200-day moving averages, so the selling intensity may increase as asset allocators move out of these indexes. As we've discussed, Minor wave 3 down should be far larger in size than Minor wave 1, which means the Dow should drop toward 8500 or lower prior to ending this degree of decline. The S&P should descend toward 900 or lower before wave 3 is complete.
moejd [19:00]: The NASDAQ 100 still has the same wave structure as the blue chips, with the same near term potential. The next short-term target is near 1650, with much greater bearish potential. The main "wildcard" is whether there will be a sharp, countertrend rise prior to a continuation of Minor wave 3 down. Unless the market opens sharply higher tomorrow, we will give the benefit to the immediate downside.
moejd [19:01]: The yield on the [30-year U.S. Treasury Bond] fell beneath 4.11% today, which means that last week's 4.51% high is indeed the top of wave B, not just wave a (circle) of B. While there might be a bounce back toward 4.20%-4.30% near term, the trend in yields should be toward even lower levels before wave C down is complete. Wave C would equal wave A at 3.71%, while the 50% retracement of the entire rise from the December 2008 low (2.51%) to the recent April high (4.86%) is 3.68%. This tight cluster is the most probable target for the decline in yields
moejd [19:01]: As stocks were falling hard this morning, the [U.S. Dollar Index] did not push to a new high, nor did the euro decline to a new low. This subtle change of behavior suggests that the dollar's rally leg is indeed exhausted. Last night we showed a chart of a small-degree five-wave decline from the 87.46 high registered overnight on Tuesday. That pattern is either wave a (circle) or wave i (circle) down. Prices bounced in three waves to this morning's high of 86.80 and are now tracing out another five-wave decline, which, when complete, will either be wave c (circle) of iii (circle). Two equal legs down from Tuesday's overnight high targets the 85.40 level for a minimum objective. Today's intraday low: 85.40, exactly. However, the subdivisions of the decline do not look complete, as shown on the 30-mintue chart. If wave c (circle) or iii (circle) extends to the point where it is a Fibonacci 1.618 times the first leg down, then the index will decline to near 84.54. Moreover, if the current decline is correcting the entire rally from November, prices will selloff to even lower levels over the coming months. The important point is that a downward correction of indeterminate length and time is now underway. The odds favor it has further to go before an attempt is made to form a low. The 98% dollar bulls (trade-futures.com) achieved at the high needs to dissipate, which this correction will take of. Prices should not push above this morning's high (86.80) during this process. If they do, we will reassess the near-term wave structure.
moejd [19:02]: The [Euro]'s analysis is exactly the same as the dollar, but in the opposite direction. Last night we forecast a push above 1.2500 under all probable scenarios and that level was quickly surpassed this afternoon. Two equal legs up from Tuesday's overnight low at 1.2143 would target a push to 1.2588. Today's high surpassed this level and similar to the dollar, the wave structure looks incomplete. So even higher prices are probable. Wave "c" up would be 1.618 times wave "a" at 1.2768, the next target. If however, Tuesday's low represents the bottom of a complete five-wave decline from the November top at 1.5147, then much higher prices over a longer period of time will develop. In this latter case prices will likely push up to at least the 1.3290-1.3500 range, or higher. With just 2%-3% euro bulls (trade-futures.com) near the recent low, the potential for a larger rise is on the table. This morning's 1.2297 low should remain intact during the entire upward correction. Any break there would suggest that we re-examine the short-term wave structure and the euro's potential.
moejd [19:03]: [Gold] and stocks are declining together. The break of the exponential curve was the initial signal of gold's turn down, which, when coupled with a reading of 98% bulls at the high (trade-futures.com), suggests that prices have further to fall. The first downside target should be the lower channel line formed by the rally from October 2008. This line crosses $1126 tomorrow and is rising at just more than $1 per trading day. I've added gold's disparity index to the chart tonight to illustrate the diverging upside momentum in wave (5) relative to wave (3). This behavior—a weaker five versus three—always occurs in stocks and sometimes in commodities, particularly if the fifth wave is not extended. When it does occur, particularly when optimism is at such an extreme, odds become high that a top is at hand. A close under the lower channel line will confirm the high and indicate a protracted decline is unfolding. As noted last night, wave (5) would equal wave (1) at $1370.25. If prices push back to a new recovery high, above $1250, it would suggest that there is potential toward this wave relationship. The current sentiment and momentum picture argue against this latter potential.
moejd [19:03]: [Silver] is now down 12% over five trading days from last Thursday's high at $19.86. If the current decline approximates the percentage decline of the preceding instances when the DSI pushed to 95% bulls (trade-futures.com), then silver will descend to at least $15.88. We still think however, that the current decline will draw prices significantly lower, so we would say the $15.88 is just the first downside target of lower ones to come. The decline will not be a straight line, none rarely is. Right now resistance for a bounce is $18.38-$19.00. This area will shift as the pattern progresses lower.
moejd [19:04]: hope everyone clearde their longs
picker304 [21:27]: Investing is truly a simply process. The investor makes it complicated. Thinking too much gives me a headache and gets in the way of a good trade plan.
picker304 [22:28]: Hello Andrew
picker304 [22:29]: Hello swing
Andrew [22:29]: Hi picker. What's new?
Iswing64 [22:29]: Picker how ya doing bud
Iswing64 [22:30]: trade today?
picker304 [22:30]: just fine how you doin? yes
Iswing64 [22:30]: good today.
picker304 [22:30]: Hey Andrew you here? Lets talk stocks
Iswing64 [22:31]: shorts??
picker304 [22:31]: Hey swing you need to check out what andrew did for the aroon link
Andrew [22:31]: I challenge anyone to find a good setup long.
Iswing64 [22:31]: lol
picker304 [22:32]: Crap lost the link andrew whats the link?
Andrew [22:32]: http://www.thunderbolttrading.com/aroon.html
Iswing64 [22:32]: was looking at toro...hang on
picker304 [22:32]: Shorts were a dream today
Andrew [22:32]: When longs look so bad, that probably means that tomorrow will be a 400 point up day, lol.
picker304 [22:33]: Seriously thats true LOL
Andrew [22:33]: Bear market rallies can be extremely explosive
Iswing64 [22:33]: lol
picker304 [22:33]: Don't you love this market right now though?
Andrew [22:33]: In addition to bargain buyers there are also shorts who panic and cover at bad prices.
Andrew [22:34]: Volatility = opportunity = more reward (but also more risk)
Andrew [22:35]: Actually a lot of the solar companies do look like they might be due for a continuation oversold bounce. They look pretty strong.
Andrew [22:35]: like TSL, STP, SPWRA
picker304 [22:36]: Hey today 15 stocks I chose after not breaking res at 10:00 dropped 3-4% problem was it was paper test dang it LOL
Iswing64 [22:36]: yep traded solf today got 2%
Andrew [22:36]: Nice one
picker304 [22:37]: you know I like chat late at night LOL
Andrew [22:37]: Paper test now = real money in the future
Iswing64 [22:37]: Andrew TTC possible short??or puts..will see
Iswing64 [22:37]: I like that one
picker304 [22:37]: thats true Andrew practice practice practice
Andrew [22:38]: I'm having a problem determining where I would place my stop loss for a swing trade short like TTC and others like it. What is your approach?
Iswing64 [22:40]: aroon macd obv bbands psar candles and ma's lol
picker304 [22:40]: Man personally I just can't play swings right now
picker304 [22:40]: LOL
Iswing64 [22:40]: and price action lol
Andrew [22:40]: It's just so risky because any day you could wake up to the futures either -3000 or +3000 it seems.
Iswing64 [22:40]: hang on
picker304 [22:40]: I'd try to trust RSI with that
Andrew [22:41]: If you go with the Bear/Bull Composite direction you will be right more often than not in the long run, but you need to be able to stay in the game.
Iswing64 [22:41]: At or below 40 day moving average
Iswing64 [22:41]: breakdowns
Iswing64 [22:41]: work well most the time andrew
Andrew [22:42]: thx
picker304 [22:42]: Good advice swing
Iswing64 [22:42]: I have a small list to look at when if you wan't them from today?
picker304 [22:42]: using what?
Andrew [22:42]: I have a tendency to micro-manage swing trades and not let winning ones run enough. I need to improve in that area.
Iswing64 [22:43]: you can day trade these as well...shorts
Iswing64 [22:44]: hang on..just a few to put on your shrts list
picker304 [22:44]: Me too Andrew but this market just scares me with swings at the moment. I can't bring myself to do it. Can't sleep
Andrew [22:44]: That's one good advantage of only day trading in this market.
picker304 [22:45]: yes sir
picker304 [22:45]: finger on the trigger
Iswing64 [22:45]: cisg,cva,dei,elon,gff,gfre,lbtk,rbn,ttc,wag,wyn
Iswing64 [22:45]: below 40 breakdowns
picker304 [22:46]: thx
Iswing64 [22:46]: no above 40 break outs today..wonder why??lol
Andrew [22:46]: I like ELON
Iswing64 [22:47]: cool me to
Andrew [22:48]: WYN looks nice too. A lot of the others look a bit too over-extended in my opinion.
picker304 [22:48]: RSI looks good too. Like RSI in swings
Andrew [22:49]: We seem kind of overdue for a green day in the market in the next few sessions.
Andrew [22:49]: That could lead to better entries short in the very weak stuff.
picker304 [22:50]: agree
Iswing64 [22:50]: or just be ready to short em if we slide
Andrew [22:50]: If there's some huge monster gap down tomorrow again, I think I will be looking mostly for longs in the early morning.
Iswing64 [22:50]: just like aig
Iswing64 [22:51]: gg
Iswing64 [22:51]: wow
picker304 [22:51]: Just wait on pullbacks on positve days when they don't break res they slide
Iswing64 [22:51]: If we get one lol
picker304 [22:52]: LOL meant on positive days
Andrew [22:52]: GG looks like it's near a place where it could be a good buy if the market ever starts holding up well.
Sandman [22:52]: Hi Andrew,picker304,Iswing64. Did you guys see FINVIZ.com That's a really neat page. I got it from et. Who ever he is.
Iswing64 [22:53]: i kinda thought gold would head north???
Andrew [22:53]: Yes, I've see it before. It has a great way of showing the sectors.
picker304 [22:53]: Hello Sandman didn't see it i'll check it out
Iswing64 [22:53]: wen't down with the rest
picker304 [22:54]: yea swing i thought the same
Iswing64 [22:54]: yes been there sandman..neat.
Andrew [22:54]: Finding a green stock in their sector board today is like playing 'Where's Waldo'
Iswing64 [22:54]: sandman you trade sso sds?
Andrew [22:54]: http://finviz.com/map.ashx?t=sec
Sandman [22:54]: You know what I like is the channelling stocks.
picker304 [22:55]: wow!
Andrew [22:55]: I liked what Gar had to say about channelling stocks in his book.
Sandman [22:55]: Iswing64 only on paper.
Iswing64 [22:56]: Oh..ok
Sandman [22:57]: Andrew I have the book but I didn't see channelling.
Iswing64 [22:57]: Dis good call by nester
picker304 [22:58]: reckon if that shows in real time??? ....finviz?
picker304 [22:59]: meant wonder lol
Andrew [23:00]: I'm not sure
picker304 [23:01]: that'd be pretty cool like a christmas tree lol
Andrew [23:01]: Or today Chinese New Year
picker304 [23:01]: LOL
Sandman [23:01]: picker304 no you have to pay $39.00 for real time.
Sandman [23:01]: That's a monthly fee
picker304 [23:02]: 39.00 to see a christmas tree no thanks lol
Andrew [23:02]: Its technical scans aren't anything special but it has some fundamental scans if you consider that in making trades.
Sandman [23:03]: picker304 you can look for what you want then use your charts.
picker304 [23:03]: only use fund. in swings and i've forgot how to swing trade
Iswing64 [23:03]: lol
picker304 [23:03]: oh Sandman I see
Andrew [23:03]: That's not necessarily a bad thing right now picker.
Andrew [23:04]: Holding individual stocks short really scares me. I think bear etfs are the way to go.
picker304 [23:04]: I know Andrew but at the moment the multi personality of this market just scares me
Andrew [23:05]: yeah
Iswing64 [23:05]: fun to trade them..but not so easy
picker304 [23:05]: Like you said wouldn't surprise me if we had a 400 bounce tommorrow
Sandman [23:05]: Andrew did I tell you I did an ETF FAZ Bought yesterday and sold today.
Iswing64 [23:06]: great sandman!!
picker304 [23:07]: I just looked out my window and spoke to the moon it said dow 14000 on Friday May 21 2010
Andrew [23:07]: Great job Sandman, I saw that! But remember to be careful with the triple ETFs like FAZ/FAS. Plan ahead for worst case scenarios - like what you would do if you woke up and FAZ had gapped down to 13.50 at 9:30am. Stuff like that is a real possibility you neeed to be ready for and plan for just in case.
Sandman [23:07]: I don't think so.
Andrew [23:08]: Sometimes that might mean not holding as many shares overnight.
Sandman [23:08]: That last post was for picker304
Andrew [23:08]: and then just adding shares the next morning if the trade has become very profitable
picker304 [23:08]: sandman lol
Sandman [23:10]: I don't plan, I just do what MACD tells me.
Andrew [23:10]: The MACD can't tell you how to manage risk though.
Andrew [23:11]: You need to be in the risk management business - not just the technical analysis business.
Iswing64 [23:11]: Right andrew
picker304 [23:11]: take small losses
Andrew [23:12]: For example, take a look at what FAZ did on May 10th when the MACD looked great the day before.
Andrew [23:12]: You need to plan ahead for situations like that just in case so you won't be caught off guard and be like a deer in the headlights.
Iswing64 [23:13]: road kill
picker304 [23:13]: Sandman do you daytrade any?
picker304 [23:16]: Andrew do you daytrade?
Andrew [23:16]: I only do buy and hold
Sandman [23:16]: Andrew out of seven trades I lost on one AERG. All I lost was the commission.
Iswing64 [23:16]: lol
Andrew [23:16]: j/k
Andrew [23:16]: You're trading really great Sandman!
Andrew [23:17]: But losing trades happen to even the best traders, so you need to prepare for them.
picker304 [23:17]: Thats great Sandman. Just keep it up
Iswing64 [23:17]: great sandman!!
picker304 [23:17]: Swing why do you daytrade if your name is swing that don't make sense
Iswing64 [23:17]: lol
Sandman [23:18]: AERG I was up $465.00 then this market turn down and I got out where I got in.
Iswing64 [23:18]: never day traded until i came here and got the bug....bad
Andrew [23:18]: One day I promise you you will be faced with a big losing trade and you will be forced to decide whether to take that big loss or keep holding on and possibly be left with a loss that can wipe out your account. That is where having predefined risk management rules can help.
Andrew [23:19]: Well I can't promise that. But it's a possibility. I hope you never actually are in that situation.
Sandman [23:20]: I'll do more day trades when I have $25000.
Sandman [23:22]: So far I have $13,714.24 Started with $9,200.00.
Andrew [23:22]: My main caution and point is that with something like FAZ you can't just keep holding at a large loss expecting it will come back to where you bought it. FAZ was previously trading at 1400.00. It never came back for those who bought it up there. If you didn't take your loss early the next day you would have been down more than 50%.
Andrew [23:24]: FAZ has fallen from over 1400.00 down to just 11.00
Andrew [23:24]: It's not like a regular stock.
Andrew [23:25]: Hopefully something like that will never happen to you guys.
Sandman [23:25]: I don't like to go below where I got in. But I got so mad with FAZ when it drop to below where I bought it. Like I said I hate to lose and that got the better of me.
Andrew [23:26]: Anyway you made a very nice trade. I don't want to scare you but just to help you understand the risks.
Sandman [23:27]: Thanks and I respect your advice.
Andrew [23:27]: When there's a good trade, there will always be another place for you to get in. If there's a bad trade, though, you might only have a single chance to get out.
Sandman [23:29]: Well it's time for bed. See you guys in the morning.
Andrew [23:29]: Have a good night.
Sandman [23:30]: If you see jim say hi for me.
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