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Forum date: 05-24-10
LEECO [7:25]: GOOD MORNING At 07:20 I am first on scene-Our DOW futures are swinging as follows at 06:00 -73;06:20 -87;06:30 -93; 06:35 -88: 06:55 -105; 07:05 -80--Indexes In Europe & Asia in red and Euro & Pound down against $-SO-???
Avalon [7:27]: Morning Leeco. Looks like another interesting day ahead.
LEECO [7:30]: morning avalon-couple of Asia indexes up our DOW now -76,Stocks trading in Europe in red
nester [7:41]: Morning guys. futures are way down now....
nester [7:43]: LONDON (AP) -- Oil prices dropped below $70 a barrel Monday after an short-lived morning rally in Asia was stopped by declining European stock markets.
Benchmark crude for July delivery was down 27 cents to $69.77 a barrel by early afternoon London time in electronic trading on the New York Mercantile Exchange. The contract lost 76 cents to settle at $70.04 on Friday.
Declining stocks in Europe kept oil from extending early morning gains in Asia when crude reached $71. The FTSE 100 was down 0.5 percent at noon London time, while Germany's DAX fell 1.3 percent and the French CAC-40 was off 0.7 percent.
Stocks and crude often move in the same direction since share prices are often an indication of future economic activity and demand for oil.
nester [7:43]: NEW YORK (AP) -- Stocks are set to resume their slide Monday as investors remain jittery about the strength of Europe's financial stability. Futures are sharply lower.
The expected drop at the open comes after a tumultuous week that saw major U.S. indexes post their biggest one-day losses of the year on Thursday only to rebound and rise Friday. Still, major indexes have been hit hard in recent weeks as investors continue to worry about European sovereign debt problems.
Major European indexes all fell Monday following a bailout over the weekend of a regional bank in Spain, one of the countries already dealing with ballooning deficits. The Bank of Spain stepped in to bail out Cajasur after it failed to complete a merger. It was only the second time Spain's central bank stepped in to bail out a regional lender.
The euro fell against the dollar, dropping to $1.2367. In recent weeks as the debt crisis has grown in Europe, the euro has become a proxy for how concerned investors are about the continent's economy. The euro hit a four-year low on Wednesday.
nester [7:44]: WASHINGTON (AP) -- The most sweeping changes to financial rules since the Great Depression might not prevent another crisis.
Experts say the financial regulatory bill approved by the Senate last week, and a similar bill that passed the House, include loopholes and gaps that weaken their impact. Many provisions depend on the effectiveness of regulatory agencies -- the same agencies that failed to foresee the last crisis.
A big reason for the bill's limitations is that banks and industry groups lobbied against rules they felt would reduce their profit-making ability.
The financial sector's influence in Washington reflects its enormous donations and lobbying. Over the past two decades, it's given $2.3 billion to federal candidates. It's outdone every other industry in lobbying since 1998, having spent $3.8 billion.
nester [7:45]: Here are 5 stocks added to the Zacks #5 Rank ("strong sell") List today:
http://finance.yahoo.com/news/acks-5-Rank-Additions-for-zacks-3636064782.html?x=0
nester [7:45]: Here are 5 stocks added to the Zacks #1 Rank ("strong buy") List today:
http://finance.yahoo.com/news/Zacks-1-Rank-Additions-for-zacks-2837019065.html?x=0
nester [7:47]: NEW YORK (MarketWatch) -- Shares of Borders Group, Campbell Soup and Phillips-Van Heusen are among those expected to see active trading on Monday in the U.S. stock market.
nester [7:47]: LONDON (MarketWatch) -- Gold futures and other contracts saw a bounce on Monday, as some waded back into the yellow metal after last week's sharp tumble.
nester [7:48]: TOKYO (MarketWatch) -- Chinese equity markets finished higher Monday, with property developers rising on hopes that Beijing may ease up on future tightening measures to curb the property market, but shares in Japan ended mostly lower as investors remained cautious about debt troubles in the euro zone.
nester [7:48]: LONDON (MarketWatch) -- European shares couldn't hold onto early gains on Monday, extending losses made last week when investors fretted over whether high levels of sovereign debt will curtail economic growth.
LEECO [7:51]: morning nester
nester [7:52]: Morning Sir. have a good weekend?
porti [11:53]: hi all
nester [7:55]: morning porti
LEECO [7:56]: SO-SO I still Have not resolved my retirement pay hassle, and my 25 year old rangw surface unit blew a switch-I took it apart and sure enuf it was blackebed fron=m a short inside the switch-called whirpool and thet sais MAYBE they still carry the part?on the other hand=tomatoes on my vines & my pool is 80 deg-You and wide come up for a swim & cookout when you can
LEECO [7:56]: morning porti
nester [7:58]: love too. i'm not sure when we are going to get the engineering to a point where we are able to head to N.C. and work. The plant there will be up and running in Aug, just have no idea what we will build. Eng is running about 6 months late. I will keep you informed as we get closer to our "move dates"
LEECO [8:02]: By the way I meant wife not wide.
rw [8:09]: Morning to All:
Andrew [8:10]: Good morning rw
rw [8:10]: Morning Andrew
LEECO [8:11]: morning rw. Andrew
guymar [8:22]: Hello
LEECO [8:22]: morning guymar
madriver [8:23]: morning all
LEECO [8:27]: morning mad
DJalecC [8:28]: morning all :-)
LEECO [8:28]: morning DJ
madriver [8:28]: morning LEECO
pvinnc [8:41]: GM everyone
porti [8:43]: 24 May 2010 at 12:20:21 (GMT)
Dow Jones intraday: rebound expected.
Pivot: 9900
Our Preference: LONG positions above 9900 with 10225 & 10300 in sight.
Alternative scenario: The downside breakout of 9900 will open the way to 9840 & 9800.
Comment: The 30-min RSI is challenging an uptrend.
porti [8:43]: from saxo trading desk
jim [8:49]: morning all
Hank [8:52]: morning jim, nester,LEECO, and others. back from a week off. Back in action soon.
jim [8:53]: Morning Hank
majour [8:53]: morning all
porti [8:53]: Hi Hank
LEECO [8:54]: morning jim, hank,pvin,majour
Andrew [8:54]: Futures are rising a little bit. We have home sales data at 10:00am today.
majour [8:54]: morning LEECO
madriver [8:55]: looking at FAZ...looks like improved quite a bit
Hank [8:55]: porti, morning,
jim [8:56]: dollar is stronger this morning
Andrew [9:02]: KFN might be an interesting short. I think it's up mostly due to being on Cramer's Mad Money show.
lindo [9:16]: Andrew, TDA says they can't borrow KFN (paper money though)
Andrew [9:19]: It looks like some brokers have shares to short and some don't. Overall it isn't an extremely heavily shorted stock.
lindo [9:19]: Thanks. Stayed home from work to practice shorting.
Andrew [9:20]: You can short it in the PaperTrader tab.
nester [9:21]: SQNM up 4.3% in premarket
jim [9:21]: sqnm running
guymar [9:21]: FAS up in premarket from 23 61 to 24 92
dukulanthe [9:21]: New to market Hi
lindo [9:21]: I'm using TOS since that's what I usually trade in, but thanks.
nester [9:22]: you jumpin in Jim?
nester [9:22]: welcome dukulanthe
jim [9:22]: nah holding off for now
Andrew [9:22]: Hi dukulanthe. Welcome. Are you pretty new to trading too, or just this program?
kotarah [9:22]: sqnm
dukulanthe [9:23]: both trading and program
Andrew [9:23]: not much volume on SQNM
majour [9:23]: spxu 35.63
lindo [9:24]: Are you seeing volume on Level II screen?
Andrew [9:24]: Start off pretty slowly. It's been a pretty tricky market the last couple of weeks unless you like short selling.
nester [9:24]: SQNM has been difficult to read lately. High volume spikes with no movement
Andrew [9:25]: It shows pre-market volume in the Stocks tab - Volume column
lindo [9:26]: thanks
Andrew [9:30]: Anyone buying any gap downs?
nester [9:30]: no... i'm just going to watch for a while to see what pops out at me...
Andrew [9:30]: short KFN 8.15
Avalon [9:31]: Good luck today, everyone.
nester [9:31]: i still think we close out green today...
Hank [9:32]: HNSN 2.19
Iswing64 [9:33]: L BAC @16.03
karenbcz [9:34]: L FAZ 15.31
nester [9:36]: SOMX 5.83
Hank [9:36]: PURE 3.30
karenbcz [9:38]: OUT FAZ 15.47
Andrew [9:39]: added to KFN short 8.08
nester [9:41]: FAZ 15.60
karenbcz [9:45]: geesh! i got out of FAZ way too soon!
karenbcz [9:46]: L FAS 23.76
Andrew [9:46]: The open today was pretty tough to read.
rw [9:47]: DWA long watcher
karenbcz [9:47]: OUT FAS 23.58
nester [9:47]: out SOMX -0.2%
karenbcz [9:47]: Just lost what I made on FAZ :>(
Mckoan [9:47]: Karenbcz- out of curiosity, was there an indicator that signaled you to exit FAS or was it just an educated hunch on your part?
nester [9:48]: FAZ $16 calls @ 1.96
Mckoan [9:49]: FAZ
karenbcz [9:50]: McKoan: I'm using a LINE chart .. looked like it was going UP.
Mckoan [9:50]: Thanks.... For the info
karenbcz [9:51]: Mckoan: damn it look! FAS IS GOING UP!!
karenbcz [9:52]: i shudda bought that dip @ 23.53.
Andrew [9:52]: The buying volume in the market is pretty light though
karenbcz [9:52]: McKoan: they move so FAST ... you've got to be quick at the switch.
guymar [9:52]: waiting for housing data?
Mckoan [9:53]: Karenbcz, I am long SDS and trying to determine the best exit approach to lock in profits.....
nester [9:53]: out FAZ +0.2%
Andrew [9:56]: out half KFN +2.5%
nester [9:57]: got out of FAZ too early.... hate that
jim [9:59]: L PCBC 1.69
karenbcz [10:00]: McKoan: looks like SDS going red.
guymar [10:01]: VMW
Andrew [10:03]: The home sales data came in better than expected, but the homebuilders possibly are putting in a lower high.
karenbcz [10:03]: DWA look like gonna turn green soon.
karenbcz [10:04]: just an fyi .. not a recommendation.
karenbcz [10:05]: DWA @ 30.36
karenbcz [10:05]: L
Andrew [10:06]: Homebuilders surging up now near highs...
Sandman [10:08]: At 09:34:19, I bought 700 shares of FAZ @ $15.32.
Andrew [10:08]: Looks pretty good Sandman
badhabits621822 [10:08]: Hello! Newbie here. DWA -10% . Hoping it keeps going near the 52 week low!
karenbcz [10:09]: SAND: Did you take your profit$$$$$?
karenbcz [10:09]: :>)
Sandman [10:09]: I'm still in FAZ.
Sandman [10:09]: up 2.09%
Andrew [10:10]: short RDN 8.71
prp25brad [10:12]: Short RDN 8.74
jim [10:13]: I think we will close green today
karenbcz [10:13]: SAND: you cudda taken your PROFIT$$$$ on FAZ 10 mins. ago @ $15.78.
karenbcz [10:14]: SAND: NOT telling you what to do ... just noting ... fondly. :>)
Sandman [10:14]: That's O.K. karenbcz
Andrew [10:15]: The market is looking a lot stronger now
karenbcz [10:15]: FAS IS going up.
prp25brad [10:16]: looks like we are fighting the tape
DJalecC [10:16]: what a messy open hour!
karenbcz [10:17]: OUT DWA @ 30.68
prp25brad [10:20]: Freakin RDN jumped up and got my stop out -1.3%
guymar [10:21]: did anyone lok at WMV meanwhile :) went from 61.4 to 62.1 in 15'
Andrew [10:24]: added to RDN short 8.81
prp25brad [10:25]: Short TQNT $6.73
karenbcz [10:26]: GUY: saw your post, but was watching other stuff. Good trade tho'! $$$
karenbcz [10:26]: You mean VMW
rw [10:30]: GOOD trade Karenbcz on DWA
karenbcz [10:31]: RW: thx.
rw [10:31]: yrcw about gone
karenbcz [10:32]: RW: yes. YRCW was a disappointment.
karenbcz [10:32]: RW: shudda sold @ 0.75. Just goes to show ... DON'T BE GREEDY!
guymar [10:33]: yes VMW
rw [10:33]: Yes Help usually comes to the needy but not the greedy LOL
karenbcz [10:34]: RW: lol!
ortrade [10:37]: SKF 500s@21.37$pe
Andrew [10:40]: long CAR 11.34
ortrade [10:41]: looks like a green day.
Andrew [10:42]: out RDN -1.5%
Andrew [10:42]: long RDN 8.91
nester [10:46]: FAZ 15.34
jim [10:50]: out PCBC 1.73 +2%
Andrew [10:51]: out RDN -1.5%
DJalecC [10:53]: in SQNM @ 6.15
ortrade [10:55]: during bull day one prefered trap is a an exhaustion gap down on 5min (e.g. PGH 10.40 to 10.45am)
Andrew [11:06]: added back to KFN short 8.00
rw [11:09]: has Dr. Knight been here lately....
Andrew [11:10]: He was trading a lot last week.
Andrew [11:12]: back short RDN 8.77
Andrew [11:15]: long FAS 15.53
Andrew [11:15]: out CAR -1.5%
Andrew [11:15]: FAZ not FAS
Andrew [11:16]: tripled up on FAZ 15.59
Andrew [11:18]: added to KFN short 7.97
Andrew [11:20]: added to RDN short 8.74
Andrew [11:22]: short ATPG 12.79
jim [11:24]: L DYN 1.07
prp25brad [11:26]: Out TQNT +1%
Andrew [11:26]: Very tricky stuff today
jim [11:27]: L PCBC 1.70
ortrade [11:31]: Unless the market can tilt and sustain the fraction of succesfull headfake balance at a constant angle it is bound to range bounce.
karenbcz [11:36]: RW: Look @ DWA now. I could'va made $1 that!
Andrew [11:36]: short CSIQ 12.40
Andrew [11:37]: added to FAZ 15.47
nester [11:38]: out FAZ +1.25%
Andrew [11:38]: added to FAZ 15.47
karenbcz [11:41]: L FAZ 15.46
ortrade [11:42]: Hank, good entry on PURE
jim [11:42]: TUES just jumped almost 10%
Andrew [11:42]: out half FAZ -0.7%
Andrew [11:43]: added back to FAZ 15.40
Andrew [11:46]: added to FAZ 15.30
Andrew [11:46]: added to FAZ 15.31
karenbcz [11:46]: OUT FAZ 15.31
karenbcz [11:47]: I'm not messing with FAZ anymore today.. That thing is a 8*tch to trade today!
Andrew [11:47]: added to ATPG short 12.87
Andrew [11:48]: The whole market is having its way with me today.
Andrew [11:49]: added to CSIQ short 12.36
lindo [11:49]: ditto
Andrew [11:50]: out KFN -0.2%
ortrade [11:52]: CHK 500s@20.98$pe
Andrew [11:56]: out half FAZ tiny loss
nester [11:56]: FAZ @ 15.40
Andrew [11:57]: out ATPG -0.23%
Andrew [11:57]: out CSIQ -0.24%
nester [11:58]: out FAZ -0.7%
Andrew [11:58]: added to FAZ 15.29
Andrew [11:59]: added to FAZ 15.32
Andrew [11:59]: added to FAZ 15.34
Andrew [12:00]: out RDN +1.1%
guymar [12:02]: Andrew, sorry to ask but why are you buying FAZ? It's hardly breaking 10 MA in the minute chart?
Andrew [12:02]: short YGE 9.75
Andrew [12:03]: The financials have shown weakness today and are currently looking pretty overbought along with the market.
guymar [12:04]: ok
guymar [12:04]: not chart related .... or am I wrong?
Andrew [12:04]: If the market continues to go sideways, FAZ should also get a boost at these prices.
Andrew [12:05]: out FAZ -0.7%
Andrew [12:05]: out YGE -0.3%
Andrew [12:06]: If the market, however, breaks out to highs, not a good trade :)
nester [12:06]: FAZ $15 calls are starting to get interesting here
ortrade [12:06]: Exit CHK -70$pe
karenbcz [12:06]: L FAS 24.42
guymar [12:06]: except that .... market has found support potentiall for a multiday rise up to 1125 in the S&P multiday rise possible to these levels
Andrew [12:07]: back in FAZ 15.23
Andrew [12:09]: tripled up on FAZ 15.26
Andrew [12:10]: There's horrible buying volume on this move.
karenbcz [12:12]: GUY: I agree. Which is exactly Y I'm STAYING in my FAS position.
Andrew [12:12]: added to FAZ 15.28 (double position)
nester [12:12]: FAZ 15.28
karenbcz [12:13]: Missed SEED. :>(
Sandman [12:14]: karenbcz---How could you do that to me?
karenbcz [12:15]: SAND: That's Y you take your profits. Otherwise the market will ROB you blind!!
DJalecC [12:16]: OUT SQNM +1%
Hank [12:16]: F 11.33
Iswing64 [12:16]: C 3.91 L
Andrew [12:21]: out half FAZ +1.2%
prp25brad [12:22]: Long SEED 8.49
Andrew [12:23]: added back to FAZ 15.41
nester [12:26]: out FAZ +1.1%
prp25brad [12:27]: I'm not addicted to blackjack, I'm just addicted to semi circle tables.
Andrew [12:28]: added to FAZ 15.39
nester [12:30]: short TXT 20.90
karenbcz [12:30]: I will take profits on FAS @ 24.93.
Andrew [12:32]: added to FAZ 15.31
guymar [12:35]: this market is nearly untradeable - the volatility on the SPY is really something
Andrew [12:35]: Yeah extremely difficult day
Iswing64 [12:36]: On a 60 min chart do you all see the 10/20 sma cross on FAZ/FAS?Or am i the crazy one?
Andrew [12:36]: The VIX though is down to 36 from above 40
karenbcz [12:36]: GUY: yes, it hard. worse trading day i've ever had. EVER!!
Andrew [12:36]: out 1/5th FAZ +1%
nester [12:36]: FAZ 15.42 and your crazy...
Iswing64 [12:36]: LOL
Andrew [12:37]: No cross yet
Andrew [12:37]: Bear/Bull Composite just went positive, lots of mixed signals
Iswing64 [12:38]: Must have missed some of my meds.
guymar [12:40]: missed signals logical - at the heart of the bear / bull battle for the moment
guymar [12:40]: Does any of you there use Gann?
Andrew [12:40]: I just can't bring myself to go long after getting faked out my longs after 10:30am and then looking at the buying volume on the recent move higher.
Andrew [12:41]: We topped out so far right near highs from Friday.
guymar [12:42]: either way - bollinger bands have entered the keltner bands in the 60' - big move coming and I guess it would be to the upside
guymar [12:42]: but don't bank on that
guymar [12:42]: big move is certain, not in which direction
Andrew [12:43]: Why do you think there would be a big move?
Andrew [12:43]: We seem kind of due for a narrow-range day.
guymar [12:43]: every time you get a BB inside Keltner in the 60'
karenbcz [12:43]: GUY: can you post BBs hitting Kbands so we can see? THANKS.
karenbcz [12:44]: GUY: plus, what is "60"?
guymar [12:44]: 60 minute chart
guymar [12:44]: would like to post but can only post easily to chart.ly
karenbcz [12:45]: GUY: no problem. We can all see that.
karenbcz [12:45]: We can open it.
karenbcz [12:46]: GUY: Only one person here can't open chart.ly because they are at JOB, which has block.
guymar [12:47]: http://chart.ly/22mna6
guymar [12:50]: don't take the title of the chart too seriously
Andrew [12:50]: lol
nester [12:50]: out TXT +1.6%
Andrew [12:50]: added back to FAZ 15.37
karenbcz [12:51]: GUY: i'd say SPY gonna make HUGE move to the UPSIDE.
nester [12:52]: out FAZ -0.2%
guymar [12:52]: well - perhaps, I would think so too, but with these signals you never really know - they tend to make super head-fakes and so on
Iswing64 [12:52]: Good karen i feel better now
nester [12:52]: TXT long 20.78
karenbcz [12:52]: :>) the goddess has spoken.
Iswing64 [12:52]: L MPG @ 3.99
karenbcz [12:53]: the goddes of B^LLSH*T .. LOL!
karenbcz [12:53]: I'm sure you realize ... I don't KNOW jack!
karenbcz [12:53]: Can only "SPECULATE" ... :>)
guymar [12:54]: well - look at the SPY
guymar [12:54]: it started moving
karenbcz [12:54]: Yes, GUY. I'm looking at hit. $$$$$$$$$$$$
Iswing64 [12:54]: Sorry mpg @ 2.99
karenbcz [12:55]: GUY: this is EXACTLY why I'm HOLDING my FAS position.
guymar [12:55]: it has to break trend channel in the 15'
prp25brad [12:55]: Out SEED +1.2%
guymar [12:55]: with this type of market a lot of people are watching 15 minute charts rather than 60 I guess
Andrew [12:55]: short AXL 8.70
Andrew [12:56]: short DAN 10.13
karenbcz [12:56]: GUY: look @ SPY .. going to 109.50 :>)
prp25brad [12:57]: Short AXL 8.68
madriver [12:57]: boy if this is what the summer is going to look like.....looks like slim pickens
karenbcz [12:58]: MAD: yeah. it's pretty bad. :>(
Andrew [12:58]: added to AXL short 8.75
guymar [12:58]: don't forget the 8th of June :)
nester [12:58]: that reminds me, has anyone heard from Slim?
Sandman [12:58]: Where is slim pickens? Haven't heard from him in over 8 months.
madriver [12:59]: took a small profit on FAZ this morning...that's been it.
karenbcz [12:59]: GUY: Is that the day market is supposed to crash?
madriver [12:59]: only made 1 trade
Andrew [12:59]: added to AXL short 8.84
Andrew [12:59]: AXL is very near its 10-day moving avg. now and the volume looks like it could be peaking
guymar [13:00]: :) yeah, according to my astrologer :)
nester [13:00]: hey mad - that paper, was that what you were asking for?
moby [13:00]: there it goes SPY making new high
Andrew [13:01]: added to DAN short 10.17
moby [13:01]: tsk, wronnnnng
madriver [13:02]: nester....it's awesome and apologize for not getting back to you yet....I haven't look over all..been crazy
nester [13:02]: no prob. just wasn't sure if it was going in the direction you asked...
prp25brad [13:03]: Out AXL -2.5%
Andrew [13:04]: added to AXL short 8.95
fwguyus [13:04]: howdy all
Andrew [13:04]: How did you make out with S?
nester [13:05]: FAZ 15.38
nester [13:06]: out TXT short -0.3%
nester [13:06]: TXT long... i don't know what i'm doing....
ortrade [13:08]: PAAS 200s@24.37pe
karenbcz [13:08]: GUY: geesh! look @SPY now.
Andrew [13:10]: out half AXL tiny gain
guymar [13:10]: yeah - head fake ....
guymar [13:12]: there is a lot of resistance and support at the same time
ortrade [13:13]: ROC 200s@24.80$pe
Hank [13:13]: ortrade, PAAS, I still remember when Bill Gates bought 10% of that company priced at 3.25 per share. around 1999 area. Looking for more land. LOL
ortrade [13:14]: CDE 200s@14.96.pe
Andrew [13:14]: added to AXL short 8.88
Andrew [13:16]: added to AXL short 8.94
Andrew [13:17]: out 1/5th FAZ +1.4%
Andrew [13:18]: out another 1/5th FAZ +1.1%
Andrew [13:18]: out DAN -0.2%
ortrade [13:19]: Hank looking for a fast scalp in this sideway market (was supposed to rally today.. lol.. ) on PAAS ROC and CDE mabe few 30-40$ hope Bill is ok with that..
dcfork [13:22]: amag
Andrew [13:23]: out another 1/5th FAZ +1.1%
Hank [13:23]: ortrade, Bill lives just cross the road from me, about 2500-3500 miles from here. Im sure he is feeling just fine just dumping a couple mill. shares of MSFT last few days ago.
fwguyus [13:23]: not enough vol. on AMAG
nester [13:25]: out FAZ +0.6%
guymar [13:25]: jump in hyperspace for SPY
nester [13:25]: hard day to trade...
Andrew [13:26]: added back to FAZ 15.40
Andrew [13:26]: added to FAZ 15.39
Andrew [13:27]: Very strange price action
guymar [13:28]: we have BB/Keltner setup in 5 min, 15 minute and 60 minute hold on to your trousers
Andrew [13:28]: out 1/4th FAZ +1%
guymar [13:29]: if you have the patience to wait to see where the headfake goes, it's a perfect trade setup
DJalecC [13:29]: Even harder in UK, my trade worked out at a loss of £100 due to pound/us exchange rate, should have been up £300 - GUTTED
guymar [13:30]: on that level I'm happy with the EUR ;)
Hank [13:32]: MSFT 26.60 short.
karenbcz [13:32]: watching CTIC @ 0.34.
Andrew [13:34]: out another 1/4th FAZ +1%
Andrew [13:36]: out another 1/4th FAZ +1.5%
Andrew [13:36]: out half AXL -0.45%
Andrew [13:37]: added back to AXL short 8.92
Andrew [13:39]: added to AXL short 9.01
ortrade [13:41]: CENX 200s@10.11$pe
ortrade [13:42]: CLR 200s@42.8pe
ortrade [13:44]: CHK 200s@21$pe
Andrew [13:45]: added to AXL short 9.01
Andrew [13:45]: out rest of FAZ +2%
Andrew [13:46]: long FAS 23.64
Andrew [13:47]: added to FAS 23.58
Andrew [13:48]: added to FAS 23.63
Andrew [13:50]: added to FAS 23.54
nester [13:51]: FAZ 15.75
Andrew [13:51]: added to FAS 23.55
karenbcz [13:52]: Oh no! Did Sandman leave? He stil has FAZ.
Andrew [13:55]: out half AXL -1.3%
Andrew [13:56]: added to AXL short 9.13
Andrew [13:58]: added to AXL short 9.17
Sandman [13:58]: karenbcz, I'm still watching.
Andrew [13:59]: added to AXL short 9.17
Andrew [14:08]: out AXL tiny gain
Andrew [14:10]: long FMCN 15.69
Andrew [14:11]: long AXL 9.12
ortrade [14:12]: Exit CLR -47$pe
ortrade [14:14]: Exit PAAS -28$pe
ortrade [14:17]: Looks like the shorts somehow dont bite..
Andrew [14:18]: out FAS tiny gain
Andrew [14:19]: out FMCN tiny gain
Andrew [14:19]: long FAZ 15.70
ortrade [14:19]: Add to CHK 300s@21.05$pe
Andrew [14:21]: tripled up on FAZ 15.76
Andrew [14:23]: out AXL tiny loss
Andrew [14:27]: added to FAZ 15.80 (double position)
Andrew [14:27]: The financials might drag the whole market down.
Iswing64 [14:31]: L FAZ 15.79
Andrew [14:34]: back short KFN 8.09
Iswing64 [14:35]: Out faz 15.67
Iswing64 [14:38]: Out mpg+2%
Andrew [14:38]: back short CSIQ 12.30
Andrew [14:41]: out KFN +1.2%
Andrew [14:41]: from the Traps tab
Andrew [14:45]: added to CSIQ short 12.22
guymar [14:45]: Andrew, I admire your relentlesness
Andrew [14:46]: I'm attempting to battle back to positive after a horrible morning.
guymar [14:46]: I cooked lamb meanwhile and had my dinner :)
guymar [14:46]: it's almost 9 pm here
Andrew [14:48]: long S 4.88
Sandman [14:49]: karenbcz--Sold 700 shares of FAZ at $15.8701.
Andrew [14:49]: Nice trade Sandman
karenbcz [14:50]: $ANDMAN - $$$$$
karenbcz [14:50]: :>)
karenbcz [14:50]: Well, GUY, you were right about a big move.
Andrew [14:51]: We haven't had a big move yet either way.
Andrew [14:52]: Just more sideways - back to where we were near 11:30am
guymar [14:53]: well, it will come this is fantanstic about this setup
guymar [14:54]: it is going to be huge
guymar [14:54]: I have rarely seen this type of thing in the 3 major timeframes
guymar [14:54]: 5' 15' and 60'
Sandman [14:54]: FAZ bought at $15.32-sold at $15.87--profit $371.07=3.46%. Thanks for all your help karenbcz.
Sandman [14:55]: Now my portfolio is up 31.24% Not bad for a beginner.
guymar [14:56]: since when?
Sandman [14:56]: 31.42% not 31.24%
Andrew [14:56]: The Bear/Bull composite switched back negative
karenbcz [14:56]: $ANDMAN = $$$$ :>)
guymar [14:57]: Sandman, give us some hope, over which period did you make these 31,42 %?
Sandman [14:57]: since 3/1/2010 9:40 am.
karenbcz [14:57]: Andrew - mine is YELLOW.
Andrew [14:57]: Yes yellow light, but negative number
karenbcz [14:58]: k
guymar [14:58]: That is march 1? (sorry mainland europe always gets confused about this)
Sandman [14:58]: ye
Sandman [14:58]: yes
guymar [14:58]: congrats!
guymar [14:58]: you're beating most high-flying hedge-funds
Andrew [15:00]: back short AXL 8.95
Sandman [15:00]: Andrew & nester knows because I posted all my trades.
Andrew [15:00]: out 1/5th FAZ +1%
Andrew [15:00]: added to S 4.86
Andrew [15:03]: added to AXL short 8.92
guymar [15:03]: Sandman, that was not sarcasm, but real admiration
Andrew [15:03]: out another 1/5th FAZ +1.3%
guymar [15:04]: I am just good at charting, not at trading :-)
Iswing64 [15:06]: L FAZ @ 16.01..try again
Andrew [15:06]: out S -0.4%
Andrew [15:06]: out AXL +1.3%
Andrew [15:07]: out CSIQ +1.2%
Andrew [15:08]: out another 1/5th FAZ +1.8%
nester [15:10]: wow... just got back. FAZ going well.
Andrew [15:10]: out another 1/5th FAZ +2.1%
nester [15:12]: out FAZ +4.1%
Andrew [15:12]: nice one!
nester [15:13]: lol.... i bought right before my meeting. i should leave more often
Iswing64 [15:13]: sweet nester!
Andrew [15:13]: I have a feeling we aren't going to have any nice clean move in the last 45 minutes.
nester [15:14]: i'm still surprised the market is still red...
Andrew [15:14]: Why?
Andrew [15:15]: One thing I noticed was that whenever the S&P and Dow turned positive today it kept on pulling back hard.
nester [15:15]: thought we would be green today. 87% of the time we are green on Mondays...
Andrew [15:16]: 5 different times or so
Andrew [15:16]: added back to FAZ 15.97
Gar [15:17]: How's everyone doing? I hope no one fell for the fake bullish move.
Iswing64 [15:17]: Out faz small loss
Iswing64 [15:18]: I think i'll leave that one alone.
nester [15:18]: they looked pretty real at times...
Andrew [15:18]: I fell for the fake bullish move this morning, but then mostly turned bearish.
Andrew [15:19]: The market kept on making new highs on no volume though.
Gar [15:19]: The thing is, the market trend remains DOWN. It has to make a much stronger move than it did to reverse the trend.
Andrew [15:19]: added to FAZ 16.02
guymar [15:19]: day is not over yet
Gar [15:19]: And of course Friday's spike-o-rama was completely bogus.
Andrew [15:20]: Maybe a lot of Friday's buying was just related to options expiration?
nester [15:21]: true, but TXT got me earlier. some ran up hard and fast, had to get out. ran up to $21 and has fell back 60 cents since then. should have bought it short again
Andrew [15:23]: There was a great reverse trap door earlier - KFN spiked up from 7.93 to 8.22 and has since gone all the way back down.
Gar [15:23]: Hey, I was semi tricked as well. Had a lunar short from Friday---DXD---unloaded 1/2 when it was pretty green, then watched the second half go way red with the silly rally, took a loss. Only to watch it come way back.
JayBird [15:23]: Hi Gar....I added to my SPY puts :-)
Andrew [15:24]: added to FAZ 16.00
Sandman [15:25]: Hi JayBird
Gar [15:26]: Hey JB! I was going to ask if you still had those SPY puts. They must be rather profitable by now...notwithstanding Friday's bogus end-of-day flare.
Gar [15:26]: However, remember that options DECAY, so don't hold them too long.
Andrew [15:27]: short JNS 10.63
JayBird [15:27]: Decay is tricky for me to judge
JayBird [15:28]: Hey Sandman....you're doing well...huh?
Gar [15:28]: Well, there isn't a whole lot of judgement. You simply exit when you have gains that you like. If you wait too long, the options will go down in price even if the underlying stock goes sideways.
Sandman [15:28]: so far yes.
Andrew [15:30]: back short RDN 8.41
nester [15:30]: FAZ 16.01
Andrew [15:34]: JNS and RDN are from a screen showing weak stocks on the day (down at least 3% since the open and down at least 3% overall on the day) and within 2% of their session lows
Andrew [15:34]: The market looks to be bouncing though right now.
nester [15:34]: out FAZ -0.4%
Andrew [15:35]: added to JNS short 10.70, added to RDN short 8.44
Andrew [15:37]: added to FAZ 15.88
Sandman [15:41]: karenbcz, How did you do on FAS?
Andrew [15:47]: Pretty low volume today compared to the last couple of weeks.
karenbcz [15:47]: SAND: FAS = losing position, but still holding. Bot @ 24.42. Will wait.
Andrew [15:47]: out 1/5th FAZ +1%
Andrew [15:48]: out RDN +1%
JayBird [15:48]: Whoa....puts and SEED going up at the same time.....how rare is that. I'll take it
Gar [15:49]: The low volume is interesting, because the heavy volume in the last few weeks was almost always DOWN volume.
Andrew [15:49]: out another 1/5th FAZ +1.5%
nester [15:50]: FAZ 16.10
Hoecake [15:51]: Faz has been a great ride today
Andrew [15:52]: out another 1/5th FAZ +2%, out JNS +1%
Gar [15:54]: Hmmm. Market is breaking that Monday rally pattern.
nester [15:54]: Sandman - you going to hold FAZ overnite?
madriver [15:54]: that's a good sign
Andrew [15:54]: Last Monday wasn't all that strong either.
Sandman [15:54]: nester I sold it.
nester [15:54]: good...
karenbcz [15:55]: GAR: Yes. Every Monday we were UP. I guess now, every Monday, we'll be DOWN.
karenbcz [15:55]: OMG! Look at FAZ!
jim [15:55]: L HERO 2.82
nester [15:55]: this will be only the 5th red Monday since Oct
madriver [15:55]: sell into close.
Sandman [15:56]: Look at post 14:54 nester.
madriver [15:56]: hey what about lunar L
Andrew [15:56]: out another 1/5th FAZ +2.7%, holding the rest until the bell
Gar [15:56]: Like I said in our market outlook on the site, we will continue to see a downtrend until these people stop talking "buying opportunity." As long as these analysts keep thinking we should buy the dips, only then will the trend reverse. These folks are going to 'dip buy' all the way down.
Gar [15:57]: I mean only when they get off this buy-opportunity mindset will the trend stop downsliding.
Andrew [15:57]: Sometimes it seems like only the first half hour of each day and the last half hour of each day count.
madriver [15:57]: i agree gar ..I tried that in 2008 and got killed....now.....
nester [15:58]: out FAZ +2.1%
Gar [15:58]: I remember that. In 2008, I must have heard "buying oppotunity" 20 times a day on CNBC. All the way down.
madriver [15:59]: I guess I must of been listening to them
Gar [15:59]: I saw this same thing in 2000. The analysts were pounding the table every fricken day, "This is a buying opportunity." All the way to the bottom. What's funny is that once these bozos finally gave up, and their message changed to, "I would be cautious....", THEN the market finally reversed and went bullish.
Andrew [15:59]: The volume is really increasing with this selling.
Andrew [16:00]: In March 2009 everyone on TV was saying how it was just a 'bear market rally' so there's no need to do a lot of buying.
karenbcz [16:00]: GAR: and at that point ... all the dot.com holders had lost 90% of their money!
Gar [16:00]: It is breathtaking how these 'experts' are wrong, 180 degrees backwards. Almost always.
Andrew [16:00]: out rest of FAZ +2.5%
madriver [16:01]: Well experts usually hedge their advice with a pesimisstic and optimistic outcomes...who couldn't do that?
Gar [16:02]: That's right, most people went down with the ship. Even worse, when we hit bottom (around 2002), these same pide pipers who pounded the table all the way down turned into bears. They all said, "I would wait...." as the market rallied for 3 years. Amazing.
ortrade [16:02]: Exit CHK +71$pe CENX +63$pe ROC +63$pe CDE +54$pe
madriver [16:02]: I have to put "experts"
ortrade [16:02]: CHK was actually +140 but after a prev loss of 70$ overall is 71$pe
madriver [16:03]: I only listen to GAR now.....King of Kings
Gar [16:03]: If I have learned one thing, it is this: Most people are wrong about most stocks most of the time.
madriver [16:03]: lol
Sandman [16:04]: Thanks Gar. You talking about me again.
madriver [16:04]: Seriously you are right
Gar [16:04]: Well Sandman, you have actually been right for the last several weeks.
Gar [16:04]: You correctly shifted to FAZ once it was evident the market has turned.
Andrew [16:05]: The Bear/Bull Composite stayed negative on Friday and most of today as well.
Andrew [16:06]: That would have been a great lunar short.
madriver [16:06]: I printed out some other direxion 3x...was looking at them earlier
Sandman [16:06]: Well so far I have 12 wins and 1 lost.
Sandman [16:07]: And the lost was just the commision.
Andrew [16:07]: That's excellent!
Andrew [16:07]: Few people have win rates like that.
madriver [16:08]: sandman...what time period?
Gar [16:08]: Yeah Sandman, that is outstanding. It's actually easier than a lot of people think. You just have to OBSERVE what is happening, and the trend. Too many people make all of this too complicated.
Sandman [16:08]: I'll do better when I have an eye for charts just like JayBird.
WizeElton [16:08]: Sandman..... CONGRATS! I'm going to keep an eye out for you now. Always ready to learn from a champ.
Gar [16:10]: I think one of Sandman's successes is letting winners run for a while. I think there is something to be said about not have microscopic stops. Sandman can correct me if I am wrong.
madriver [16:10]: I always thought sandman was a winner
Sandman [16:10]: Thanks WizeElton
Sandman [16:10]: And madriver.
Gar [16:10]: Actually, humility is another reason. Sandman think's he is "dumb." Which makes him smart. If that makes sense.
madriver [16:11]: Bingo.....that's what trading wizards mentions about all the great traders....humility!!!
Andrew [16:11]: Letting winning trades run is one of the most difficult things to do. I've been getting slightly better at it though since I've started scaling out of positions in chunks rather than sell all at once.
Andrew [16:16]: Wow, the volume went from -35% to -18% in the last several minutes.
Sandman [16:17]: Well Good night everybody have to go water the flowers before the wife gets home. See you tomorrow.
karenbcz [16:17]: bye Sandman! $$$$$$$$$$$$$
fwguyus [18:44]: Ok andrew lets look at DEAR
fwguyus [18:45]: Hey nester
Andrew [18:46]: I think I'd like DEAR more as a short
fwguyus [18:47]: care to explain?
nester [18:48]: sorry. had computer issues...
Andrew [18:48]: From its chart it looks like a lot of people got trapped buying very high in April, so I would expect any sizeable bounces to be sold into relatively quickly.
Andrew [18:48]: I like it short near 2.60 or so.
fwguyus [18:49]: Oh yes, I would like it as a short too it gets at 2.60....
Andrew [18:49]: You probably wouldn't have to risk too much then for possibly a 35%-40% gain.
nester [18:52]: how did you both do today?
fwguyus [18:52]: brb
Andrew [18:53]: The avg. person who bought DEAR since the 4/21 gap up is currently down more than 30% on their position.
Andrew [18:53]: Bad morning but great afternoon, so finished up with a very nice day.
fwguyus [18:53]: not a good ticker..so lets move on...i dont like that much hassale
nester [18:54]: i also like it as a short. if it hits 2.60, i may short it even though the volume is lower than i like...
fwguyus [18:54]: mee to ..i finished goood...held S over night from friday and it opened Gap up today...
Andrew [18:54]: Yeah, S was one of the strongest stocks in the market. Goldman Sachs upgraded it to buy with a $6 price target.
nester [18:54]: good for you guys.
Andrew [18:55]: I found this morning very tricky though.
nester [18:55]: look at SD
nester [18:56]: i am trying to stay clear in the mornings. sell any overnite holds. thats about it.
Andrew [18:57]: I'm trying to take it easy before 10:00am with not too many positions before then.
nester [18:58]: you looking mostly for shorts now?
Andrew [18:58]: SD looks like a good short if there's a nice gap up in it to the high 5.50s or so.
Andrew [19:00]: I still like shorts a lot better unless I see some huge buying volume in the market (like Friday).
nester [19:00]: aftermarket has it at 5.54
Andrew [19:00]: Oh I'm seeing it 5.59 bid and 5.60 ask right now. I wonder if there's some oil-related news that happened.
nester [19:01]: $6 puts are only 75 cents... i like this one more and more
nester [19:01]: not sure...
Andrew [19:01]: How many option trades have you done this year?
nester [19:02]: lol... zero up till i read Gar's book. i've been doing about 3 a day lately.
nester [19:03]: funny. that is all i used to do until i got on this site. now i'm mixing it in with stocks
Andrew [19:03]: It was a great book. I didn't really know anything about options trading until I read it.
Andrew [19:04]: Some of those specific setups he talks about are really cool.
nester [19:04]: there is a lot of great information out there. for whatever reason, i haven't even thought about options until then.
nester [19:04]: yes. they work well.
Andrew [19:05]: Did you do well with options trading when you first started or did it take a lot of time to become profitable?
nester [19:05]: i'm up a lot since i started them back up. i think that book made me look at them again in a new view
nester [19:06]: i did very well at times. i was one of those "lets load up cuz i did it great last time" kinda guys. had to learn to just hit singles, not swing for the fences everytime
Andrew [19:07]: I'm still trying to learn what market conditions to just scalp and when to try and swing for the fences with at least a large portion of my stock position.
nester [19:07]: YGE for a short
Andrew [19:09]: Looks good
nester [19:09]: i read a great section in a book the other day on that subject. just keep hitting singles. the mechanics and fundamentals are the key to hitting singles and when the pitch is just right, it will sail into a homer.
fwguyus [19:10]: HIMX
fwguyus [19:10]: It probebely going to swing up to 3.20 and then become a short..
nester [19:11]: staying away from that. average vol 300k
nester [19:12]: it is up due to strong volume. suckers hold
Andrew [19:12]: That chart looks kind of sketchy
fwguyus [19:12]: your right nester..didnt see that...
nester [19:13]: NOK
Andrew [19:13]: I agree that if anything, a better short it seems
fwguyus [19:13]: How about GSS
nester [19:14]: see that large vol spike on May 13? price tanked with that. kiss of death...
Andrew [19:15]: With NOK, possible sign of bottoming but don't really like it either way here. I also don't like it intraday since it's an ADR.
nester [19:16]: its followin the 10ma very well down. range with it is still good. thinking down a bit more
Andrew [19:16]: GSS is kind of in no man's land. I don't think either long or short has good risk-reward right now.
nester [19:16]: GSS i agree with Andrew. no direction right now
fwguyus [19:16]: what do you mean by rist to reward? and how do you determine?
Andrew [19:17]: I first choose where I would want to place my stop loss.
Andrew [19:18]: And then if it is $0.30 away from the current price, for example, I then see if it looks likely for the trade to go $0.90 in my favor.
fwguyus [19:18]: oh ok..got it...thx
nester [19:19]: look at LYV this is just turning the corner down. the 20/50 just crossed south...
Andrew [19:19]: For GSS short I might want my stop loss at 4.45 which would be about 5% away from the current price. From the chart it looks like it might run into trouble getting down below 3.85 or so which would only be about 8% profit.
fwguyus [19:20]: it held up quite nicely at 4
nester [19:21]: on LYV, this this needs to fall and hold below $12. support there
fwguyus [19:22]: LYV looks like its gonna get chopped
Andrew [19:22]: I don't like how there was a lot of selling volume this morning following the large gap up. I wouldn't be surprised if some of those funds selling will step back in again over the next few days.
Andrew [19:22]: in reference to GSS
Andrew [19:23]: Maybe LYV will consolidate in a tighter range and can get short near 12.60.
fwguyus [19:24]: On LYV, it should fall to about 11.50 and swing back up but there is some profit to be made..shorting..
Andrew [19:24]: It could be a nice day trade short perhaps if it gaps up near 12.40.
nester [19:25]: think your right. maybe after the morning "rally" on it.
Andrew [19:26]: LYV kept appearing in one of my day trade screens for a possible short but I never pulled the trigger on it unfortunately.
nester [19:27]: i'm getting these from my short screeners. the long screeners are blank...
Andrew [19:29]: AXL was a very strong one today. If it hadn't gone much above 9.00 I would have made a lot of money shorting it, but of course it had to go up to 9.19 just to make it more difficult, lol.
nester [19:29]: ITUB maybe one to watch. it was on my long screener late last week and now on the short one.
fwguyus [19:29]: Here is a good long, LWSN
Andrew [19:29]: AXL's daily chart looks interesting for a possible short though - just need to watch out for more buying volume coming in.
nester [19:31]: AXL is set up to short. the thing to watch is the gap between the price and the 10ma. thinkin the price needs to go up first before it heads down. if not, it should go sideways waiting for the ma to get there
Andrew [19:31]: I like LWSN
fwguyus [19:32]: yea mee to I think axl will go up before it goes down mabe to about 9.15
nester [19:33]: i'm not sure about LWSN. the 10/20 ma's are on top of each other. this is lookin more like a long to me
Andrew [19:34]: Yes I meant I like it long
fwguyus [19:34]: on AXLE, the price on a 60 min chart pulled upto the 100ma and then dropped three times
Andrew [19:36]: I like DAN short too. It's been struggling in the 10.30s and showed relative weakness in Friday's rally.
nester [19:36]: ITUB looks to be ready for a run north. maybe to $19 or upper $18's
Andrew [19:37]: I'm not sure about that - ugly close today
Andrew [19:37]: I'd like to see it hold above 18.25 for a while first
Andrew [19:38]: Then maybe add shares above 18.31 for a move up to 19.00 hopefully.
nester [19:38]: the issue on DAN is the gap between the 10ma and the price. think it will pull up a bit, maybe mid to upper $10's before starting its decent
nester [19:39]: on ITUB? i agree. has to fill that gap
fwguyus [19:40]: AMMD
fwguyus [19:40]: nester may get on me for the volume though...
nester [19:41]: lol o
nester [19:41]: i'm right though...
fwguyus [19:41]: yes you are....
Andrew [19:42]: Maybe once it actually closes solidly above 22.00. There still seem to be a lot of seller up there. Alternately might be a good short with a tight stop just based on the possible risk-reward.
nester [19:43]: its sitting right on the 10ma though. why did it gap up so much early May?
Andrew [19:43]: ... like maybe risking 30 cents against for hopefully a $2 move down
Andrew [19:43]: It gapped up for a good reason I think - good earnings and guidance
nester [19:44]: yeah, thinkin it is going to fall and fall hard...
Andrew [19:44]: Maybe a $3 move down?
nester [19:44]: maybe... bet it hits mid $18's in a week or so
Andrew [19:45]: It has a fairly decent short percentage too.
nester [19:46]: options are a bit high. the $22.50 puts may be the play though
Andrew [19:46]: Best case scenario, there's just a couple of funds shorting everything above 22.00
nester [19:46]: $20 has a bit of interest in it
nester [19:47]: too far away from the money though. won't play that one
fwguyus [19:47]: RGC
fwguyus [19:47]: a lot of sell pressure..
Andrew [19:49]: I like it as a possible long if there's a gap down. It's very near its 200-day moving average and a place where it previously bounced in Feb.
nester [19:50]: is a bit away from the 10ma. it may try to fill that gap from a few days ago. mid to upper 15's
nester [19:51]: i do like this as a short though
Andrew [19:52]: I also like KFN as a short still. It gapped up about 5% today after Cramer recommended it on TV on Friday. Even he said he didn't like buying it near 8.20.
nester [19:52]: it may be resting on the support. i would really like this one below $14
fwguyus [19:52]: I have this new app on my phone that suppose to give me list of stocks based on candles. let me see if this may interest you guys..
fwguyus [19:55]: ZION
nester [19:55]: KFN had good volume on it and it ticked up today. the 20/50 ma cross down and the price is almost sitting on the 10ma. looks like a "perfect storm"...
nester [19:56]: lot of short interest in it also.
Andrew [19:56]: ZION could be a great longer-term short. It was at $13.00 to begin the year.
fwguyus [19:58]: down to about 18
nester [19:58]: some support around the $22 and it looks like it bounced there again. like it better once it breaks south of there
fwguyus [19:59]: xl
nester [20:00]: but then again, if the financial sector keeps gettin hammered, this could be a good one to short all the way down
nester [20:00]: did i mention KR yet?
Andrew [20:01]: Not yet
fwguyus [20:01]: nope, and i like it..
nester [20:01]: ok, i like it down...
fwguyus [20:01]: man where you find these....fire storms..
Andrew [20:02]: I don't really like the risk-reward on XL at the moment.
nester [20:02]: go thru the Nester's Swing shorts... set your volume to 5000k
Andrew [20:03]: XL was a great one to day trade last summer.
nester [20:05]: KR i think may go up a bit before heading south. the 20/50 cross just happened, so it should fall hard.
nester [20:06]: also, the 10/200 is about to cross then the 20/200. almost the kiss of death...
fwguyus [20:07]: What is good good stock to daytrade now?
nester [20:07]: like a lot of movement? FAZ/FAS
nester [20:08]: good movement? SSO/SDS
Andrew [20:08]: CAGC's been a pretty good one this month but difficult to find shares to short
nester [20:08]: no ETF's? what price range?
fwguyus [20:08]: SDS looks interesting...
Andrew [20:11]: MBI's been a good one too
nester [20:11]: go to Gar's Stock tab. select All Stocks and sort them by Beta. those have the most volatility
nester [20:12]: that ended at a good price...
nester [20:13]: MBI will go up either tomorrow or the next day. the w%r is riding the 100 mark. rsi is at 20. good combo for a ride north
Andrew [20:16]: I need to get going. Have a good evening.
nester [20:16]: SNPS just looks like it doubletopped.
nester [20:16]: c'ya Andrew
fwguyus [20:17]: yea.mee to..later guys..
nester [20:17]: c'ya FW
Andrew [21:10]: SEED could be a good short.
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