09/02/10
09/01/10
08/31/10
08/30/10
08/27/10
08/26/10
08/25/10
08/24/10
08/23/10
08/20/10
08/19/10
08/18/10
08/17/10
08/16/10
08/13/10
08/12/10
08/11/10
08/10/10
08/09/10
08/06/10
08/05/10
08/04/10
08/03/10
08/02/10
07/30/10
07/29/10
07/28/10
07/27/10
07/26/10
07/23/10
07/22/10
07/21/10
07/20/10
07/19/10
07/16/10
07/15/10
07/14/10
07/13/10
07/12/10
07/09/10
07/08/10
07/07/10
07/06/10
07/05/10
07/01/10
06/30/10
06/29/10
06/28/10
06/25/10
06/24/10
06/23/10
06/22/10
06/21/10
06/18/10
06/17/10
06/16/10
06/15/10
06/14/10
06/11/10
06/10/10
06/09/10
06/08/10
|
StockVision
Chat Blogs
Chat
is taken from the
live forum in our
stock screening
software which you
can download
and try for FREE.
Forum date: 06-18-10
DJalecC [7:03]: morning all :-)
madriver [7:19]: The 3 summer months (June/July/August) have produced an average total return loss of 0.4% for the S&P 500 stock index over the last 20 years (1990-2009). Yet, the stock index was up +11.7% during the 3 summer months in 2009.
madriver [7:20]: morning DJ
DJalecC [7:20]: morning mad
nester [7:57]: NEW YORK (AP) -- Stock futures pointed to a modestly lower open Friday ahead of the expiration of options contracts.
The drop in stock futures came a day after the market erased its losses to end higher. The Dow Jones industrial average ended with a gain of 25 points and has risen five of the past six days.
With little economic and corporate news expected, trading could be choppy because of the occurrence of a quarterly "quadruple witching," which marks the simultaneous expiration of four kinds of options and futures contracts.
Europe drew attention after leaders said they would publish results of so-called bank stress tests, which are designed to evaluate the financial stability of banks. Investors have been concerned about European banks for months because of high debts in weak European Union countries like Greece.
nester [7:57]: LONDON (AP) -- European stocks rose Friday as worries about the region's fiscal crisis eased after Spain, one of the most pressured by markets, successfully sold bonds, and government leaders said they would reveal results of bank stress tests.
Although Spain was charged higher costs to borrow money, demand for the debt was healthy, boosting sentiment among investors worried the country could need a financial backstop.
Later Thursday, the EU's 27 leaders agreed to publish the results of tests that check the stability of banks. The results were not initially meant to be made public, but after some countries said they would do so to quell rumors of banking problems, the EU agreed to act in unison. The move was seen as a vote of confidence in the financial sector.
nester [7:58]: SHANGHAI (AP) -- China's economy is showing signs of softening after its strong stimulus-fueled rebound last year, the World Bank says in its latest quarterly update.
Industrial production and other key indicators show the pace of growth moderating albeit remaining relatively strong, supported by real estate investment and a recovery in export demand, said the report, released Friday.
"China's economic outlook remains favorable," the World Bank said, forecasting growth at 9.5 percent this year and 8.5 percent in 2011, with "risks both ways."
China's economy, the world's third largest, shook off the global recession to expand a stunning 11.9 percent in the first quarter but is certain to decelerate in coming months, the report said.
nester [7:59]: NEW YORK (CNNMoney.com) -- Stocks were set to open little changed Friday as investors appeared to take a wait-and-see attitude toward the markets during "quadruple witching," a day when four key types of stock contracts all expire simultaneously and can increase market volatility.
Dow Jones industrial average (INDU) and S&P 500 (SPX) futures were both down less than 0.1% and Nasdaq (COMP) futures were up less than 0.1%. Futures measure current index values against perceived future performance.
nester [8:00]: SAN FRANCISCO (MarketWatch) -- Among the companies whose share are expected to see active trade in Friday's session are Tenet Healthcare Corp. and Sunoco Inc.
carr [8:04]: morning dj mad nester swami and all
nester [8:05]: morning carr...
carr [8:07]: nester did you get my reply yesterday
nester [8:07]: yes. thank you. justa a few thoughts
carr [8:09]: CRUS just seems to want to keep going
DJalecC [8:11]: morning carr, nester
nester [8:11]: morning DJ
DJalecC [8:19]: anyone got an iPad? and if yes, does SV work on it! :-)
carr [8:20]: I don't have one DJ but if it can run external apps I can't imagine why it would not work.
DJalecC [8:22]: I'll have to look in to that, never done apple before...
carr [8:23]: DJ just looked at the ipad specs and SV would probably need to be written for the ipad. It looks like apple is keeping control like they do with the iphone
carr [8:23]: I didn't see anything that made me think it will run stanard executable files.
DJalecC [8:24]: bah! I remember now why I never did apple!
jim [8:29]: morning all
DJalecC [8:29]: Might just wait for the gPad anyway ... love the Android phone, if only Gar had an SV app for it! LOL
carr [8:39]: morning jim
stcrim [8:40]: Really silly question - I'm demoing this software. Are most of you finding it very helpful in your trading?
DJalecC [8:40]: YES
carr [8:40]: Welcome stcrim I have tried almost every scanner on the market and this is the only one I use now.
rko [8:41]: I highly recommend it
carr [8:41]: The forum is great too I get a lot of trading ideas and advice from this group
stcrim [8:42]: Thank you for the welcomes! I'm looking at short term rather than day trading - I assume it's good for both?
carr [8:42]: I swing trade, but there are a number of really good day traders here too
carr [8:43]: Yes it is good for pretty much any trading style
Avalon [8:43]: Good morning, all
Willie2 [8:43]: You will find day traders, swing traders, and longer term traders here
carr [8:43]: Morning Avalon
stcrim [8:48]: Thank you - I'm looking forward to it. I'm new to it all but eager to learn
carr [8:49]: feel free to ask question stcrim responses may be a little slow when the market opens, but please ask.
rko [8:50]: I recommend going through all the tutorials.
carr [8:50]: good morning LEECO
jim [8:51]: Stcrim This system is the best there is I highly recommend it
carr [8:52]: rko is absolutely right I did that when I first joined and it was a lot of help. I still go back and review them
Willie2 [8:52]: rim Best advise any one can give you is study study study, then papertrade till you can figer it out and realy pay attention to capital loss prevention you must above all learn to get out of a trade that is going against you, set stop limits.
madriver [8:57]: stcrim.....should work well with short term trading....welcome
madriver [8:57]: morning to all
stcrim [8:58]: Thank you - right now I'm using my Vanguard account which does allow stops or limits but not both. In other words I can not set a low and a high at the same time. It's very limited but also very inexpensive per trade.
Andrew [8:58]: Good morning.
carr [8:59]: Morning andrew mad
LEECO [9:00]: Good Morning DJ, macd,nester,carr,jim,stcrim,rko,Avalon,-STCRIM--Orracle before and StockVision now are the best guides I've ever seen -The screens, tutorials & forum are worth mant times the price
LEECO [9:01]: Morning Andrew
Andrew [9:01]: I think it's more important to set stops and then you can just keep moving it up to lock in your profits while letting your winners run.
carr [9:03]: Use limit orders on the buy side and stops to protect after the purchase
jim [9:03]: good point Andrew it becomes a free trade once you set your stops above entry
carr [9:04]: Try to avoid market orders
jim [9:04]: problem with stops is they are market orders
carr [9:05]: Sorry I meant when you make the inital purchase
carr [9:05]: I can also set a limit stop with my broker.
Andrew [9:06]: It depends how thinly traded the stocks you're trading are. In some cases a market order won't usually be worse than a limit order. The high frequency trading strategies and automated market makers make it difficult to get filled with limit orders sometimes.
Andrew [9:06]: They can step in front of your bids/offers unless you set your limit order to buy on the ask or sell on the bid.
carr [9:07]: Even if you set your limit at the ask price I would rather do that than get caught in a huge spike.
Andrew [9:07]: That's true. Good point.
Andrew [9:09]: Today's opening could be interesting. All that buying volume yesterday will wake up today underwater already.
madriver [9:11]: morning carr
Andrew [9:12]: VVUS might be a good gap down
madriver [9:13]: fnm is falling off a cliff
Andrew [9:14]: Below 0.40 it should probably trigger some stops. There was nothing really too impressive about FNM yesterday - just consolidated in the low-end of its range from Wed.
madriver [9:15]: consolidation low end..bad
Andrew [9:15]: Yeah usually.
madriver [9:15]: atleast that's what the text book sy
madriver [9:15]: say
rw [9:16]: Good morning to all - Wish all a great trading day......Welcome new trials also.
Andrew [9:17]: Today could be the day VCLK finally fills that big gap down from October (12.35).
Avalon [9:17]: morning rw
jim [9:17]: Morning RW still in Arizona ?
rw [9:17]: Morning Avalon
rw [9:17]: Yes Jim. - Leaving Monday be back trading Tuesday.....
carr [9:18]: morning RW
rw [9:18]: Morning Carr_ Hopethings are better for you -
jim [9:18]: Good we miss you
rw [9:18]: Thanks - same here.......
LEECO [9:19]: morning rw
carr [9:19]: Today may well be a good day for me
madriver [9:19]: rw...where are you?
madriver [9:20]: arizona I guess
Andrew [9:20]: BP could be a good one to watch today after a pretty tight consolidation yesterday.
LEECO [9:21]: TraderBob & his son, and I am my family are leaving tomorrow for a week at VA BEACH-but will trade from there
jim [9:21]: is today triple witching day?
Andrew [9:21]: quad
LEECO [9:22]: no jim quadruple witcging
carr [9:22]: Enjoy your vacation LEECO
Andrew [9:22]: = a day on which contracts for stock futures, stock index options, stock options, and single stock futures all expire
jim [9:23]: XOM is running in the premarket
Andrew [9:25]: The financials are showing some relative strength this morning pre-market after lagging a little yesterday afternoon.
LEECO [9:25]: Thank's My wife and I have a time-share at Turtle Cay-South end of Beach at Rudee's inlet-We also will be taking advantage of Oceana Naval Air SAtation facilities for shopping, groceries, officer's club and a haircut LOL
jim [9:26]: looking at SPY ans $spx dailys it starting to look like an uptrend
Andrew [9:27]: Yes
karenbcz [9:27]: SPY was up ... now down ...
ortrade [9:27]: Good morning..
jim [9:28]: Morning Ortrade
Andrew [9:28]: I'm not sure I like anything on the open - looks to be kind of uneventful. I might just default to shorting some stuff on my watch list.
LEECO [9:28]: morning karen,ortrade
jim [9:29]: Morning Karen
Andrew [9:29]: There could be enormous volume to begin the day though b/c of options expiration.
LEECO [9:29]: FAS is up premarket
ortrade [9:30]: The indexes did a hammer yesterday on on the adaptive. Today critical time for remarks is 12.15.
ortrade [9:30]: morning jim.
Andrew [9:30]: The base we've established on the daily chart looks a little too nice and the recent uptrend looks a little too good. I'm skeptical still.
Andrew [9:32]: SPY is right near its vwap since the April top, so bulls who have been buying all the way down are being given a chance to get out at no loss if they want.
Avalon [9:33]: Hedging with vxx today
jim [9:33]: Agree Andrew still skeptical and very cautious
Andrew [9:33]: short BP 32.38
Andrew [9:34]: The volume number above will be skewed all day probably just because of the options expiration volume in the first couple of minutes.
Andrew [9:34]: long FAS 23.87
jim [9:34]: FNM falling
Andrew [9:35]: tripled up on FAS 23.94
Andrew [9:35]: added to BP short 32.36
Andrew [9:36]: added to FAS 23.79
Andrew [9:39]: short RDN 9.41
Andrew [9:40]: added to BP Short 32.46
Andrew [9:41]: added to RDN short 9.39
Andrew [9:43]: short ATPG 11.52
Avalon [9:43]: apa may be good for a bounce
Andrew [9:43]: added to ATPG short 11.50
Andrew [9:47]: FNM would look like a good short if it had a higher price.
jim [9:48]: TAT L 3.48
jim [9:48]: AAV L 7.08
Andrew [9:48]: added to RDN short 9.41
Andrew [9:51]: out FAS tiny gain
Hank [9:51]: Morning all
Andrew [9:51]: long FAZ 14.34 (double position)
knight [9:52]: TAKE PROFIT FAS 20,5 TO 23,96 PART 8
Andrew [9:52]: added to FAZ 14.39
Hank [9:52]: BZH 4.26 short
jim [9:52]: L HAUP 2.69
ortrade [9:52]: PLCE 200@48.69$p
ortrade [9:53]: correction PLCE 200s@48.69$p
ortrade [9:53]: HD 200@31.86$p
knight [9:53]: faz SHORT 14,3
jim [9:54]: out HAUP 2.73 +2%
Hank [9:55]: SIMG 3.73/3.92= .19 5% 5/17
Andrew [9:55]: out ATPG +2.1%
Andrew [9:56]: out BP +1%
Andrew [9:57]: Today feels like it could be a tricky day to get some movement.
Hank [9:57]: LNG 3.31/3.38 =.07 2% 5/17
Andrew [9:58]: long ATPG 11.23
Andrew [9:59]: added to ATPG 11.14
Hank [9:59]: BZH Aug 5 Puts 1.05
ortrade [10:00]: FBN 200@6.49$p
knight [10:00]: ADD FNM . 38 & FRE .47
Andrew [10:00]: added to ATPG 11.17
PA [10:01]: long FAZ 500*14.38
ortrade [10:01]: Exit HD +34$p
LEECO [10:01]: Morning knight-how will SEED & PEIX fare today?
LEECO [10:01]: morning
LEECO [10:02]: morning PA
PA [10:02]: Good morning LEECO,Andrew,ortrade,nester and all
Andrew [10:03]: long SPWRA 14.36
knight [10:04]: WILL BE A YOYO DAY - VERY BORING DAY
ortrade [10:04]: GYMB 200@44.94$p
nester [10:04]: out LEN short from yesterday +2.1%
nester [10:05]: out AUY long from yesterday +1.8%
knight [10:05]: WE SHOULD FINISH GREEN TODAY
Andrew [10:06]: out ATPG +1%
Andrew [10:06]: short ATPG 11.27
Hank [10:06]: BZH 4.26/4.21= .05 1 % cover
Andrew [10:07]: back short BP 32.27
Andrew [10:08]: added to BP short 32.21
Andrew [10:08]: added to SPWRA 14.38
Andrew [10:10]: added to ATPG short 11.36
ortrade [10:11]: TC 200@9.81$p
Andrew [10:12]: added to RDN short 9.51
jim [10:13]: ICO L 4.27
Andrew [10:13]: added to ATPG short 11.42
Avalon [10:14]: yep, APA bounced. anyone take advantage of the opportunity?
Andrew [10:15]: out RDN -0.42%
Andrew [10:16]: added to SPWRA 14.31
ortrade [10:16]: FAZ 500s@14.33$p
ortrade [10:16]: Exit PLCE -88$p
Hank [10:16]: MU 10.00
ortrade [10:17]: Exit GYMB +84$p
Andrew [10:19]: added to FAZ 14.27
Andrew [10:20]: added to FAZ 14.26
ortrade [10:20]: Exit FAZ +46$p
knight [10:20]: RDN 9,3
Andrew [10:21]: out SPWRA -0.56%
Andrew [10:22]: added to BP short 32.17
ortrade [10:22]: Exit FBN +16$p
Andrew [10:23]: Not too much is working today in What Works.
Hank [10:23]: BZH 4.21 short
Andrew [10:23]: Few traps coming through as well
Andrew [10:24]: long RDN 9.39
ortrade [10:24]: PLCE 200s@49.21$p
Andrew [10:26]: We have been trading in a ridiculously small range this morning.
Andrew [10:26]: out FAZ -0.8%
Andrew [10:26]: added to RDN 9.41
Andrew [10:27]: out BP tiny gain
Andrew [10:27]: long FAS 24.15 (triple position)
Andrew [10:28]: long DAN 12.07
Andrew [10:30]: added to DAN 12.10
rw [10:31]: Phoenix Arix Madriver - was out or would have answered earlier
Andrew [10:32]: added to ATPG short 11.42
ortrade [10:32]: Exit PLCE -50$p
nester [10:33]: SLW 21.24
Andrew [10:34]: added to ATPG short 11.50
Hunz [10:35]: New here, anyone trading options
rw [10:35]: I have sold puts before -
Hunz [10:36]: why no calls
Andrew [10:36]: I think a few people here mostly just trade options.
ortrade [10:36]: Exit TC -16$p
nester [10:36]: yes, trade options at times
Hunz [10:36]: why no calls
rw [10:36]: NOt sure Hunz....just stuck with puts - but may do that one day use the iron condors
ortrade [10:36]: correction Exit TC +19$p
Hunz [10:37]: you make on the puts using stock vision, I'm just feeling the program out right now
LEECO [10:38]: Morning Hunx-Yes anumber do rw and nester and I am getting into it-you should buy Gar'sE=book obn low budget trading-good basic easy to understand lesson on options with the best ones to trade in it
Andrew [10:38]: Interesting, Breakouts are now #1 in What Works.
Hunz [10:39]: funny you mention that, that is how I found out about stock vision....just finished it
Andrew [10:39]: out RDN +1.3%
rw [10:39]: How long have you been trading or doing options hunz
LEECO [10:40]: I have followed Gar's e-book (paper trading until I get used to it) and find it money making with lower $
Hunz [10:40]: have never done options just basic stocks for about a year
Andrew [10:40]: out FAS tiny gain
rw [10:40]: Ok HUNZ - a great book is "How to make a million dollars in options" by Lowell...library has it..
Andrew [10:41]: long FAZ 14.19 (triple position)
rw [10:41]: Be sure and paper trade op[tions first - be sure and buy protecetion if you sell puts
rw [10:41]: there is a screen here that is for Options.
Hunz [10:41]: I'll check that out rw. and ok I'll take note of buying protection. How has the papertrading been going for you guys
Hunz [10:42]: you talking from the list "best for options".......
Andrew [10:43]: short SPWRA 14.51
LEECO [10:44]: I have been getting comfortable with them and showing profit onpaper trades buying 10 contract calls and day trading making $200-$250 each trade
Andrew [10:46]: added to ATPG short 11.51
Hunz [10:46]: is the # of shares on the papertrade tab the same as what the book is refering to? e.g.(1 share = 1 share or is it 1 share=100options.
Hunz [10:47]: Leeco, what makes up the majority of the $200-$250? the contract calls or day trading?
nester [10:47]: short LEN 15.04
rw [10:47]: Hunz - lets say you sell a put option for 15.00 price - meaning that at 15 you start losing money you need to buy a PUT at 14 to prevent catastrophic loss. also they pay you in advance when you sell puts........With protection you l imit loss to about a thousand dollars ina very negative situation Lowell book is a must to read....
rw [10:47]: Options express have virtual accounts - go there and learn first
Andrew [10:48]: added to SPWRA short 14.49
Hunz [10:48]: ok, you recommend that over papertrading here?
Andrew [10:49]: The papet trader here is for practicing trading the underlying stocks.
Hunz [10:49]: ok, you can't trade options here
Andrew [10:50]: Right, you can find the stocks here and check out their charts here but to paper trade the options you can go where rw recommended.
Hunz [10:50]: sorry guys, I know the new guy can get annoying. If it makes any difference I'm 21 and in my third year of college
Hunz [10:50]: just trying to make an extra buck
LEECO [10:51]: Day trading of option calls-ex yesterday at 11:51 I (paper) bought 10 call cobtracts DDM Junhe 43-@ $0.70
Andrew [10:51]: That's good you're learning about all this while you are young. A great time to learn and make mistakes, etc.
Treacherous_Cretin [10:51]: hello people
Hunz [10:51]: that what i figured
Hunz [10:52]: ok Lee
Andrew [10:52]: out SPWRA -0.55%, out DAN +0.6%
Andrew [10:52]: I'm not liking the price action today.
Andrew [10:53]: Everything's kind of just hovering around on low volume.
Treacherous_Cretin [10:53]: market is not good for trading today which is why I decided to stay out
Andrew [10:53]: Probably due to options expiration?
Treacherous_Cretin [10:53]: hope knight and others got clear of that fnm and fre crap
Treacherous_Cretin [10:53]: market could make a big move andrew
Andrew [10:54]: I have a feeling it could wait until the last hour or so though.
LEECO [10:54]: I then sold them at 14:30 hrs @ $0.95 (the bid at the time the asked was $ 1.20-but I wanted to be sure to sell) The gain was $250 lerss commisions $15.49 or net $219,02 or a net gain of 31,3%
Andrew [10:54]: I might just mostly be in lurk mode for the rest of the day and only take on a couple of positions without getting too aggressive.
Treacherous_Cretin [10:55]: I just came on to see if options expiry was going to move the markets early in case a bounce or a short was in order
Andrew [10:55]: Because right now I'm seeing a lot of weak stuff turning strong and strong stuff turning weak. I don't like that.
Hunz [10:55]: Lee would you say scottrade is a bad broker to use for options
LEECO [10:56]: welcome T_C
LEECO [10:56]: I don't know Scottrade's details-I use E-trade
Treacherous_Cretin [10:56]: I guess I will just stay away as planned. Had a good week with new papertrading account. No need to wreck it when there are not any good setups
Andrew [10:56]: Check out OptionsHouse, Hunz
Andrew [10:57]: That's a good idea TC
carr [10:57]: add 20 fnm july $1 calls .01 and add 20 september $1 calls .03
Andrew [10:57]: Today just feels weird
Hunz [10:57]: ok
rko [10:57]: Feels like a big fat short squeeze today
Andrew [10:58]: I think they are supposed to have some of the best rates and also offer cheap stock commissions as well.
Hunz [10:59]: ya they do, thanks
Andrew [10:59]: I've never traded options before though.
Andrew [10:59]: added to FAZ 14.14
rko [11:00]: I use OptionsXPress for options, I think they are the best for novices like me. It just takes time to move money around, that's their only drawback. But they have a good education center.
Treacherous_Cretin [11:00]: be well people
Treacherous_Cretin [11:00]: was good being with you all again for a little while
Andrew [11:00]: long EK 5.38, from Traps
Hank [11:00]: KBH 12.42 short
Treacherous_Cretin [11:01]: maybe do some more paper trading again in the future
rw [11:01]: TC -------Do you have to leave??
Andrew [11:01]: Bye TC, hope to see you back soon
Treacherous_Cretin [11:02]: No rw. just was testing myself this week to see how paper trades went for me stress wise
Andrew [11:02]: added to FAZ 14.16
Treacherous_Cretin [11:02]: was okay. other than some of my trades were sloppy
Treacherous_Cretin [11:03]: I have other things I need to focus on in my life
Andrew [11:03]: out 1/3rd ATPG tiny gain
Treacherous_Cretin [11:03]: not sure I am ready to dedicate myself to trading paper or otherwise
PA [11:04]: order stop limit FAZ 300*14.05
Treacherous_Cretin [11:04]: so taking another hiatus for a while
Treacherous_Cretin [11:04]: anks for your emails and support rw
Andrew [11:04]: The VIX has really come down a lot - now just 23.40
Treacherous_Cretin [11:04]: be well people
Treacherous_Cretin [11:04]: bye
Andrew [11:05]: Cool, USA scored, and is now just losing 2-1 instead of 2-0.
rw [11:05]: YOU are welcome Treacherous_Cretin.
Andrew [11:06]: added to EK 5.34
jim [11:07]: out ICO 4.33 +1.5%
rw [11:10]: Good Trade Jim.
rko [11:10]: Andrew--where do you get your VIX reading?
Andrew [11:10]: back in RDN 9.56 (double position)
ortrade [11:11]: INFA 200@27.26$p
Andrew [11:12]: added back to ATPG short 11.46
rw [11:13]: KEP looks good for a long
PA [11:14]: SELL LIMIT ORDER FAZ 500*14.05
rw [11:15]: Hate to say this but PEIX does not look good -
rw [11:15]: andrew the dog RDN keeps dropping - after I bought it in paper trader
Andrew [11:15]: I kind of like how PEIX is consolidating while holding its 10-day and 20-day moving averages.
Andrew [11:15]: Over the long term though PEIX's chart looks horrible.
Andrew [11:16]: I thought I saw some strong buyers in RDN but I guess the volume just isn't there right now.
rw [11:16]: Did not mean to bash PEIX.......
Andrew [11:17]: I kind of am using RDN as a hedge against my FAZ b/c I thought the financials still have a little bit of room to run up.
Andrew [11:18]: added to RDN 9.49
ortrade [11:18]: Exit INA -24$p
rw [11:19]: sorry andrew - I forgot to take meds this morning should not have bashed RDN LOL
Andrew [11:19]: By all means bash whatever you want, lol
rw [11:19]: LOL
Andrew [11:19]: The more different opinions there are the more we can all learn.
rw [11:19]: I hope Dr. Knight does not see what I said about PEIX.
Andrew [11:20]: I think it would be good not to call people Dr. who are not so as not to confuse people.
nester [11:20]: a chart is a chart. if it looks like a dog, then say it is. don't think anyone should be that attached to a ticker to have it offend them
PA [11:21]: ortrade are you using Omnitrader
ortrade [11:21]: you cannot fight that Andrew.. the fictitious hierarchy has no other way..
Andrew [11:22]: out EK -0.56%
rw [11:22]: Thanks Mr. Nester
rw [11:22]: Thanks Andrew - I will cease doing that...Did not think of that.
Andrew [11:22]: added to RDN 9.49, out half FAZ tiny loss
ortrade [11:23]: Primarily for viewing many charts fast PA. Their built in strategies are not proficient.
Andrew [11:24]: added to ATPG short 11.49
PA [11:24]: Are you using real time or EOD
ortrade [11:24]: I own the real time version.
Andrew [11:26]: added back to FAZ 14.19
PA [11:26]: Is it good I use Omnitrader 2010 EOD they use many indicators to do backtesting almost like curve fitting and does not do well forward testing
rko [11:27]: EURO is doing the walk of shame
Andrew [11:28]: out RDN -0.26%
ortrade [11:29]: I dont believe it is software fault but a faulty principle. Performance in badktesting has little to do with forward testing as future is never derivable directly from the past in an open system like the stock market where news flow in all the time..
jim [11:29]: ortrade what was the website you refered me too the other day for definitions of various things like aroon
PA [11:29]: I agree
Andrew [11:30]: Isn't backtesting kind of over-rated since market patterns change a lot, so a lot will depend just on what time period you use for the back test?
ortrade [11:30]: in the context of adaptive moving average jim? http://www.onlinetradingconcepts.com/TechnicalAnalysis/MAAdaptive.html
jim [11:31]: Ortrade thank you
karenbcz [11:31]: PA: "forward testing"? What is that?
ortrade [11:31]: welcome jim.
Andrew [11:32]: It's when you take a strategy and see how well it performs each day live.
Andrew [11:32]: So you will see how it performs today, Monday, Tuesday, etc.
Andrew [11:32]: It's like paper trading.
PA [11:33]: How about Artificial Inteligents(neural Network) do you find it reliable I am stil new at it
PA [11:35]: Karenbcz it mean you use the signal that proved to be succesful like one year back to test next 6 month of your data
ortrade [11:36]: karen. to add some detail to PA explanation. You pick a strategy and set the present to be 2 days ago. From 2 days ago to 4 days ago is the backtesting period. From 2 days ago to now is the forward testing period. You optimize the strategy parameters to be proficient from 2 days ago to 4 days ago. Then you apply that strategy to the period from 2 days ago to now and check if it is still proficient or not.
Andrew [11:37]: added to FAZ 14.22
Andrew [11:38]: USA tied up the soccer game late in the game.
PA [11:40]: Andrew I try to hold on FAZ like you did yesterday and it seems to be good (for now) but it's really difficult for me.
ortrade [11:41]: PA neural networks is more efficient way of combining many indicator in a strategy and optimzing parameters. I believe the parameters used in calculation like number of neuron layers and so on are still black box.. I tried that in the past but did not improve results..
Andrew [11:41]: The volatility in the market has been dropping so I don't think trading the 3x ETFs will be as profitable so I've begun to cut back my trading of them slightly.
rw [11:42]: GAP long looks good
ortrade [11:46]: 12.15 is remarks time I expect market reversal 12.15-12.25
PA [11:46]: Update FAZ stop limit to 14.20
Andrew [11:47]: The volume today has been absolutely dreadful except for the first few minutes of options-related buying/selling.
carr [11:48]: from yesterday on GAP S&P Downgrades A&P To Highly Speculative On Liquidity Worries 06/17 04:04 PM
Hank [11:48]: BZH 4.12 short add
jim [11:50]: Andrew when the $vix is high does that mean it is time to buy long?
PA [11:50]: I screened using my computer 3*ETF is the widest range in % in my list of active ETF
Andrew [11:51]: Not usually. It just means things will be moving more in both directions so it's a good time to get more aggressive and execute a greater number of day trades since each winning trade could be a higher % gain.
jim [11:51]: Andrew the daily vix has been dropping for over a week does that mean it is time for a correction?
Andrew [11:52]: Each loss though could also be a higher % loss, so you need to be sure to cut losses still.
PA [11:53]: Jim what I noticed when Vix turn red Market tend to move up vise versa I don't know if Andrew agree to this
Andrew [11:53]: I think the VIX dropping is pretty bullish. Normally high volatility means more selling.
ortrade [11:53]: FAZ 500s@14.24$p
Andrew [11:54]: The VIX kind of measures investors' fear, and when they get fearful they sell.
Andrew [11:54]: Yes PA
rko [11:54]: I'm not sure there are any investors left to scare
Andrew [11:55]: There are tons of investors with lots of confidence still.
Andrew [11:55]: We've come a long way since March 2009 with few severe pullbacks.
Andrew [11:56]: There's been very little people willing to sell below SPY 106 or so as well.
Andrew [11:56]: In terms of the big picture.
rko [11:57]: small people?
Andrew [11:57]: I meant few, lol
rko [11:57]: LOL
Andrew [11:58]: With that said though, I'm still pretty bearish in terms of the shorter-term.
ortrade [11:58]: TRIN, VIX and other indicators of market sentiment I have seen failing systematically too many times.
Andrew [11:58]: I also think bearish markets are easier to trade because of the volatility.
Andrew [11:58]: day trade
Andrew [11:59]: Low volatility markets are better for swing trading.
Hank [12:00]: BZH 4.21/4.08= .13 3 % cover part 1 from am
rko [12:00]: I have a good friend who is a position trader. He is down 40% for the year, somehow.
ortrade [12:00]: It is easy to see that, If VIX is low, only if it gets LOWER then we have a trend and market is trending up. but it can also go higher once it was lower and market reverses.. The worst is when it keeps changing FROM NOW ON while TIL NOW it was going LOWER (make us think market is trending up) That is one simple example..
PA [12:02]: My Ameritrade just Stop updating
jim [12:02]: L APWR 8.77
Hank [12:03]: BZH Aug 5.00 puts sell 1/2 position size up 5% from am. 1.05/1.10
ortrade [12:03]: The primary cognition bias (It is one thing that is taught at Harvard Business school and also Game Theory) of traders is that they donot DISTINGUISH what the market did TILL NOW from what the market will be doing FROM NOW ON..
Andrew [12:03]: There still hasn't been any kind of convincing buying above SPY 112.00 so I haven't really had to change my bearishness much.
rko [12:03]: My Ameritrade is fine, I think
jim [12:03]: RKO maybe your freind was in PEIX
rko [12:04]: No, but he had a bunch of speculative stuff, I think he got out of VectorVest or something
rko [12:04]: Alternative Energy stuff
rko [12:05]: like PEIX
PA [12:05]: Out FAZ 14.20 -$105.11 I shoud have sold higher if Ameritade was stil updating my chart. It happened often lately, Does nestor has any problem
Andrew [12:05]: BP finally broke down but I missed it
Andrew [12:06]: I'm thinking of getting short again soon on this bounce.
Andrew [12:06]: short BP 31.86
Hank [12:06]: KBH 12.42/12.27=.15 1% cover
rko [12:06]: BP bond anyone?
jim [12:06]: I'll pass thank you
rko [12:07]: I really don't want to get on their mailing list
Hank [12:07]: rko I'll pass also,
rko [12:08]: I owned Transocean, but got out at $90 -- now I'm getting all these class action law suit notices
Andrew [12:08]: Good exit!
Hank [12:08]: rko are you saying you are trouble. lol
rko [12:09]: I know, right?
rko [12:09]: no, I'm just really lucky
rko [12:09]: Except my 401k went down 72% in 2008
Hank [12:09]: KBH 12.34 short
Andrew [12:09]: added to BP short 31.89
Andrew [12:10]: I like how it couldn't get beyond 31.94 again there.
rko [12:11]: I'm going to wait until just before the EPA presents them with their $100B fine
rko [12:12]: And buy 1000 PUT contracts at $1 strike for a penny each
Andrew [12:13]: out 1/3rd ATPG tiny gain
Andrew [12:14]: I got a little too much size in that when I was trying to improve my avg. cost.
Andrew [12:14]: added to BP short 31.82
Hank [12:16]: BZH 4.14 short
Andrew [12:19]: added to BP short 31.97
PA [12:20]: I ve got to go good bye all
ortrade [12:22]: Exit FAZ -35$p
Andrew [12:24]: We finally have a somewhat big 5-minute bar.
ortrade [12:25]: likely it will get nasty from here giant bars in opposite directions..
Andrew [12:26]: Maybe there will be a sneak attack mid-day by the bears. The volume today's been horrible.
rko [12:26]: Interesting, that was a big fat drop in the DOW with no movement on the EURO
Hank [12:26]: KBH buy Oct 12 puts 1.36
ortrade [12:28]: an interesting coginition bias is the belief of the trader of being right after one loss. That leads taking positions that opposes stock direction..
Andrew [12:28]: I'm glad I took a small loss on RDN earlier, the buyers totally vanished in it after it went 1-cent through highs. Nasty stuff.
Andrew [12:29]: EK didn't get any follow through either, and now Breakdowns are #1 in What Works.
rko [12:30]: VIX up to 24
rko [12:32]: I need one of those submarine horns
Andrew [12:32]: added to BP short 31.97
rko [12:32]: dive, dive, 45 degree bubble
Andrew [12:34]: BP bounce up again on pretty light volume compared to the selling volume earlier, so I doubt it can get too much above 32.00 before some more sellers return.
Hank [12:34]: BZH 4.14/4.057= .09 2% cover part 3
Hank [12:37]: BZH 4.12/4.07 .05 1% cover part 2
Hank [12:38]: BZH 4.06 short
Andrew [12:38]: Oil stocks have been pretty strong today, which is working against my ATPG and BP shorts.
ortrade [12:39]: trading the stock market is like being in 1'st grade and learning that 1+1 =2. The teacher gives a test asking how much is 1+1. Only 3 percent were not paying attention and answer something else beside 2. Then teacher gives most class a 0 and teaches the next day that 1+1=3 not 2. You all failed! The next day another the teacher gives another test. Teacher keeps teaching and testing until students learn there is not a correct answer and from learning the history of what 1+1 equaled in each day, they try to derive what will be the correct answer to the test. The teacher decides on to grade the test correct based on the smallest number students who answer something different. That continues until all students average grade gets closer to 0 and one individual gest a perfect score (the teacher!) welcome to the trading club.. lol
Andrew [12:39]: lol
rko [12:40]: Wow
Hank [12:40]: Housing market looks slow, over 1mill house bankruptcy if default. Dont know about the bank stocks. ???
Andrew [12:40]: added back to ATPG short 11.49
ortrade [12:40]: FAZ 1000s@14.28$p
Andrew [12:44]: added to ATPG short 11.53
jim [12:44]: L HERO 3.05
rko [12:45]: ortrade--Like in 1929 the one student who got the correct answer was James Livermore
rko [12:45]: jesse
rko [12:47]: There is only one side of the market -- it is not the bull side, nor is it the bear side. There;s only the right side.
Andrew [12:53]: out ATPG -1.7%, out BP -0.6%
Andrew [12:53]: out FAZ +0.5%
Andrew [12:54]: I think I'm all done for the day. Things aren't making much sense to me and I haven't had a good trade for about 2.5 hrs.
Hank [12:58]: FNM/FRE are making 97% of all loans, and theyre both going to hit their statutory lending caps set by congress before the fall, and thes caps might not be increased. There is no jumbo mortgage money available to anyone, and homebuilders can't get credit they used to. 1/3 of the foreclosures and foreclosure remediation is dismal failure. 2/3 people getting help eventually by default. The tax credit is gone, interest rates at zero,and Fed cant use a rate reductin to stimulate housing. Hang on to seat belts this fall. Unless a hat trick comes along. We see where this is going.
Andrew [12:59]: Maybe that's why we've had such a big sell off last month.
Hank [13:01]: Andrew, this opens ones eyes for down the road, same old problem no shorting coming up once more on a lot of stock. Im buy ing early. lol
Andrew [13:01]: What's no shorting?
Hank [13:01]: NO Inventory at times.
Andrew [13:02]: Oh so lots of people are short right now then.
rko [13:02]: Thus this rally
rko [13:03]: All the bears are already full up
Hank [13:04]: Watching the volumes and options , futures, the inverntory looks one sided to me. So for me I watch like the last few bad times we had, so I end up buy options
Hank [13:06]: The one advantage we have here is this systm picks the options for us and it works. I used several approaches and its good.
Andrew [13:06]: Have a good weekend. I don't want to risk a bad day turning into a very bad day and giving back much of my profit this week.
jim [13:07]: have a good one Andrew
ortrade [13:07]: Just go back from lunch.. My 1000 shares position on FAZ shortis on practically 0.
Hank [13:07]: nice wknd andrew
rw [13:10]: Yes Hank you have a nice week end.
rw [13:10]: Hank = are you working Traps today?
Hank [13:11]: rw my traps are slow like the market, so using What Works. Only found 2-3 stocks.
rko [13:13]: knight was right, this is boring. i'm out of here too.
rko [13:13]: have a good weekend everyone
ortrade [13:13]: What works has Breakdowns and Overbaught on top.. but shorts do not look very strong now..
ortrade [13:14]: Market was so volatile the passing week that no witchcraft was left for today.. lol
Hank [13:15]: we got to work for our $$ today. Who said it was easy, We can only blame ortrade for having an early lunch.
ortrade [13:16]: Early? on east coast it is 1.15pm..lol..
rw [13:16]: YOu are right Hank
rw [13:16]: Hank What do you have your traps set on please.
Hank [13:17]: rw my traps on slow days are lowest possible on all indicators. Cause I need $$$$$$$$$
rw [13:18]: Thanks.......Hard to make money today
Hank [13:18]: KBH is still sinking. have options .
ortrade [13:18]: The worst concept on earth is that you cannot make money.. Someone has to give it to you.. nasty
Hank [13:20]: ortrade, you must have an eagle eye, cause you cant be more right. lol
karenbcz [13:20]: RW: I keep answering your IMs and you keep leaving.
ortrade [13:21]: This is opposite from nature. Any creature if it wants something e.g. food it goes and pick it up with the beak if you are a bird (like Hank).. lol
Hank [13:22]: ortrade, my faults show that bad, just hurts so bad. lol
Avalon [13:23]: Strange sideways action today. My account balance has remained nearly unchanged.
rw [13:23]: Karen: Sorry - I am here now.
ortrade [13:24]: what faults, Hank. birds are free..
ortrade [13:27]: Benefit of the money way instead of nature way is protection that is no one can claim you as food as in nature.. that is big advantage unless you are already at the top of the food hierarchy.. lol
Hank [13:27]: summer coming in, more slow fridays, everybody gone swimming.
Hank [13:32]: Looking at future lumber April 340/197 today, Low open interest also.
knight [13:32]: yoyo day - a dull day
ortrade [13:40]: nice song, http://www.youtube.com/watch?v=jjyIeiv-LjM&feature=related
ortrade [14:27]: GSM
nester [14:28]: out LEN short +2%
Andrew [14:46]: If it hadn't been for all the initial options expiration buying/selling near the open, today would probably be the weakest market volume we've had since April.
rw [14:55]: peix not in stockvision
carr [15:09]: rw that is because it is trading under $1 FNM is also not in SV
carr [15:12]: I had the same discussion with Karen a day or two ago. There are no stocks under $1 in SV
karenbcz [15:12]: CARR: Clearly, PEIX and FNM .. 2 favorites .. Gar should add. :>)
ortrade [15:13]: nice song, http://www.youtube.com/watch?v=jjyIeiv-LjM&feature=related
carr [15:14]: Fair enough Karen, I will send a message asking them to be added.
Hank [15:16]: BZH 1.05/1.15 Aug puts 10 % out other 1/2 position. from am .
nester [15:18]: since this is such a boring day, 6 messages in 20 min, anyone want to review tickers?
Hank [15:19]: Buy Aug 5.00 puts 1.25
123 [15:19]: peix and fnm is something you scrape off bottom of shoes after stepping in ......:)
karenbcz [15:20]: lol!!
Hank [15:20]: Sorry BZH 5.00 Aug puts 1.25
carr [15:20]: LOL 123 unfortunately I own both, but I have other ways of tracking them.
karenbcz [15:20]: 123: same was said about AIG a year ago.
karenbcz [15:20]: "tracking" them??? roflmao!
karenbcz [15:21]: just don't "track" 'em in the house. LOL!
123 [15:21]: fnm Fannie Mae was worth 27 billion in 2007 and now worth 500,000.
carr [15:21]: I really don't want a bunch of penny stocks in SV, but some here own them, and this may be their primary charting program. Which is fair enough.
karenbcz [15:22]: CARR; most "penny stocks" don't have a "story" ... PEIX and FNM do.
carr [15:22]: That is why I think they may be exceptions.
Gar [15:23]: Guys, the reason SV can't handle stocks below $1 is due to the datafeed. We are limitted to 2500 symbols. When you add UK, ETFs, etc., the symbol count is about 2400. Adding more symbols would be $100 more per month. Anyone who wants to pay $100 per month, I will be happy to add all the penny stocks.
iswing64 [15:23]: L IMGN @ 9.49 tight stop
123 [15:23]: SV is not a charting program...mix that with penny junk and you'll be broke fast.
carr [15:24]: No Gar don't do that it would slow things down with a lot of useless junk.
Gar [15:24]: I agree carr.
iswing64 [15:24]: test
123 [15:25]: Karen peix and fnm's story is a nightmare....I hope your short not long
Gar [15:25]: I have toyed with an idea to create a "Penny SV" exclusively for cheapies. Sell it as a separate product. I have considered that, since lots of people trade super cheapies exclusively.
123 [15:26]: those people wont be around long Gar they will go broke
carr [15:26]: That could open a whole new audience, but not likely many here would be interested.
karenbcz [15:27]: GAR: I think that's a GREAT idea. I'd subscribe.
Gar [15:27]: Yeah I know 123.
karenbcz [15:27]: My ol' online buddy from StockFetcher started a chat called "Investors Underground" ... all penny stocks.
karenbcz [15:28]: And the infamous Timothy Sykes only trades penny stocks.
carr [15:28]: But it is a good point a lot of people dabble in penny stocks.
Gar [15:28]: However, whether they go broke or not is not my problem (as cold as that sounds). It would of course be a whole different audience, a Penny SV would not have the same features.
Gar [15:29]: Frankly, I think options trading is 1000 times more superior to penny stock trading. Far more profitable, less risky, yet it satisifies that need to trade "cheapies." And serves the same purpose.
karenbcz [15:30]: GAR: so true. Options are better.. at least you can trade DECENT, well-know high-priced stocks in options trading.
Gar [15:30]: For example, you can trade a high volume $10 stock by buying calls or puts for 50 cents. With HUGE moves in the option. Why trade penny stocks when you can trade expensive stocks for pennies?
karenbcz [15:30]: With penny stocks, you never know what kind of "garbage" you're digging out of the sewer.
123 [15:35]: Gar did you get the paperback version of your options book out yet?
Gar [15:42]: Not yet 123. Have had higher priorities. But I will get it out soon.
Gar [15:48]: It's really quit/slow here today. Only about 1/2 the people online as usual.
Gar [15:48]: quiet
Andrew [15:49]: The market was kind of just hovering around all day on low volume and decreased volatility. There wasn't as much opportunity today.
123 [15:49]: markets been flat for days....only change at end of day on my stuff is a different date
Andrew [15:50]: The market getting flat near the high end of its recent range suggests to me that there aren't many aggressive buyers left at these prices. If we keep going up eventually we could run into a price level where there are aggressive sellers waiting.
jim [15:51]: out hero 3.08 +1%
Andrew [15:51]: The last 3 days have been very choppy after some cleaner moves on Monday and Tuesday.
Andrew [15:52]: Overall though the intraday tape hasn't been too easy the last couple of weeks.
Gar [15:53]: That's because it just meanders around, almost randomly, and with bad volume.
Gar [15:53]: Oh my god...the bear/bull meter snapped WAY WAY red...?
Gar [15:54]: And with an up market? SV knows something...maybe.
Andrew [15:54]: I preferred the low-volume meandering higher in March and April b/c there were a lot more good individual breakouts to buy then at least.
karenbcz [15:54]: Wow!! THAT IS weird!
Gar [15:54]: A nice fat bear ETF would be a good move at the close. Or a fat put option on something.
Andrew [15:55]: At several points today when I looked at What Works, hardly anything at all was working well.
karenbcz [15:55]: I'm thinking a little FAZ would be yummy right now!
Andrew [15:55]: It's a pretty decent price to take a chance on it.
Gar [15:56]: I agree Karen. Especially right smack at the close, I have a hunch these bozos will spike the market to outer space in the final minute.
karenbcz [15:56]: Geesh! Jul $14 calls ONLY 1.28!!
Andrew [15:56]: long FAZ 14.14, paper trade hold
Andrew [15:57]: XLF should run into a lot of resistance near 14.90 and 15.00 most likely.
nester [15:57]: FAZ $14 calls $1.29
Gar [15:58]: That's a good deal.
Gar [15:58]: Another interesting opton would be calls on the VIX.
ortrade [15:58]: Exit FAZ +110$p
jim [15:59]: FAZ $14 1.30
jim [15:59]: calls
123 [15:59]: vix options seem to cost as much as a stock....last time i looked they were $20.00 ??
LEECO [16:00]: I like it yuour way nester FAZ option
jim [16:01]: I ended up paying 1.31 for the faz $14 calls
LEECO [16:01]: Bye all I will be posting from the beach and hopefully trading to make $ from there too,
nester [16:01]: Leeco - it is a bit risky holding thru the weekend. the bull/bear meter was the tipping point for me though. futures are down strong now too
123 [16:02]: have a good weekend all
nester [16:02]: jim - you should be good. i will send you an email this weekend as we are heading out your way on Thursday
nester [16:03]: c'ya 123
nester [16:04]: got to get also. have a good weekend all
Hank [16:04]: nite all, have nice wknd.
ortrade [16:04]: not that hard trading today as the rest of the week. Have a good weekend Hank, Andrew and all traders here..
jim [16:04]: Nester tahnks email me with schedule, lets try to get together
madriver [16:34]: have a good weekend!
punkzjay [17:12]: hi reseaux_1
Gar [15:38]: Saturday note: The "Sectors" list has been revised again. Some people wanted more detail than the original list, others liked the original, smaller sector list. I have revised it somewhere in the middle. So now, there are less groups, but separated a little more than the original sector list. I believe this is the way to go.
jim [19:12]: Gar I think the sector list is great thanks for the continued improvements
Andrew [20:58]: Looks like a great compromise!
Hyperion [3:18]: "When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."
Frederic Bastiat (Economist)
Hyperion [3:49]: "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
Alexis de Tocqueville
Hyperion [5:06]: I think it is do or die for the Plunge Protection Team: They must buy the market hard Monday morning in what could be a last ditch attempt to trigger short-covering rallies. If they fail and end in an exhaustion move into mid-day, lookout BELOW.
nester [11:25]: WASHINGTON (AP) -- A majority of states saw their unemployment rates drop in May. But the widespread declines were mainly because people gave up looking for work and were no longer counted.
The unemployment rate fell in 37 states and the District of Columbia, the Labor Department said Friday. Six states had increases and seven experienced no change.
Forty-one states and the District of Columbia saw a net increase in jobs. But that reflected national data showing a huge gain because of government hiring of temporary census workers.
Nevada now has the highest jobless rate in the country, marking the first time in more than four years that Michigan did not hold that distinction. Nevada's rate climbed to 14 percent. Michigan's fell to 13.6 percent.
nester [11:29]: WASHINGTON (AP) -- After a week of partisan wrangling, the Senate on Friday passed legislation to spare doctors a 21 percent cut in Medicare payments looming for months. But the last-ditch effort came too late.
Moments after the Senate acted, Medicare announced it would begin processing claims it has already received for June at the lower rate. The reason: the House cannot act on the fix until next week.
That means doctors, nurse practitioners, physical therapists and other providers who bill under Medicare's physician fee schedule will have to resubmit their claims if they want to be made whole, with added paperwork costs both for the providers and for taxpayers.
"Congress is playing Russian roulette with seniors' health care," Dr. Cecil B. Wilson, president of the American Medical Association, said in a statement. "This is no way to run a major health coverage program."
rw [14:50]: Re: the revised " Sector" Section: I believe that the optimum positive result has been attained........This should really work well with the various categories yet some smaller and less defined.....thanks Gar.......
iswing64 [18:49]: WOW nester .Pre-Market..way green
nester [18:50]: hey swing - just noticed that was -500 this morning
iswing64 [18:51]: your kiddin..-500??
iswing64 [18:51]: big swing
nester [18:52]: computer is very slow haven't got rid of that virus yet
iswing64 [18:53]: mine not 100% either.lol
iswing64 [18:53]: working on it though..
nester [18:54]: i'm thinking it is that China exchange thing and now "Canada's economy is suddenly the envy of the world"
nester [18:56]: you have a good Fathers day?
iswing64 [18:56]: trying to reorginize a chunk of my wacthlist to best sector stocks for the week
iswing64 [18:56]: Yes fine thanks and you?
nester [18:56]: found a few i like going down
nester [18:58]: it was good. didn't get a chance to go to the lake though.
iswing64 [18:58]: daily chart shorts??
iswing64 [18:59]: For fishing?
nester [18:59]: one's i like going south. XCO LOW SFD GMR & BKC
iswing64 [19:01]: ok i'll fire up my charts..kinda slow though bear with me..
nester [19:03]: yes, we were taking the boat out to go fishing. just didn't get a chance to get it ready in time
iswing64 [19:06]: Haven't been fishing in years..
iswing64 [19:07]: At a glance i love the shorts..the ones
iswing64 [19:08]: stochasticly at higher levels and comming down..xco,gmr,bkc
iswing64 [19:10]: I'd sure like to build my own chart software set up some day.. hard to find one i like thats easy to use..with everything i like..ahhh!!
nester [19:11]: just have a hard time looking for longs and trusting them just yet.
iswing64 [19:12]: know what you mean..how do you think gold stocks will hold up?
nester [19:14]: yes, but the problem is that they change. i like my setups but would like the 10/20 , 20/50 , and 50/200 crosses
nester [19:15]: i'm not sure about the gold tickers. like the silver and miners though
iswing64 [19:15]: Yes nester..in real time please..lol
iswing64 [19:18]: Would be great to have real time scans for ma's crossing..
iswing64 [19:18]: At least for daily charts..
nester [19:23]: yes, the daily charts. i like it on a pullback and above the 10ma
iswing64 [19:24]: Can't wait for the new S/V version save a ton of time i hope..
nester [19:26]: i think it will be a great update. from what i have heard, it will be far superior
iswing64 [19:30]: Yes...Faz is tops on my list for call options..traking those most every day..however..i didn't say it in forum but it could fall down even further..
iswing64 [19:30]: around 12.00 area
iswing64 [19:31]: then waiting to spot a turning point.
iswing64 [19:32]: but just don't see it yet
iswing64 [19:32]: track
nester [19:33]: i got $14 calls late friday. should make a few bucks on it monday
iswing64 [19:34]: But as far as stochastics go on daily chart on faz..this should be a area to wacth
iswing64 [19:35]: watch
nester [19:36]: agree. it should head back up towards $18 soon.
iswing64 [19:38]: yes..but nothing for me as far as a daily chart set up or even a 60 min set up...
iswing64 [19:39]: what did you end up payin for your 14 calls..
nester [19:41]: $1.29
iswing64 [19:43]: Oh..not bad at all..
iswing64 [19:45]: Pre-Market a little stronger..
iswing64 [19:45]: crazy
nester [19:46]: should be fine the futures were in my favor and it ticked up in post market
nester [19:47]: this up futures may drive FAZ back down.
iswing64 [19:48]: thats what i was trying to say...lol
iswing64 [19:49]: Nester..do you still look at daily charts of faz from time to time?? or 60 min?? lol
iswing64 [19:50]: or just 5 min
nester [19:50]: not happy about it at this moment. but who knows. the market could turn major red in a moments notice
nester [19:52]: daily every once in a while
iswing64 [19:53]: I was kinda trying to get ortrade to look at further out charts on faz.. as he was getting his but kicked on paper.. 5 min.. didn't register i guess..
iswing64 [19:54]: time frames i mean
iswing64 [19:55]: Oh well..i guess no two traders are the same..
nester [19:55]: the 5 min you can run with but just for short runs. things turn so fast lately. everything tanking then some stupid thing happens and it all turns north.
iswing64 [19:59]: yes 5 min works well for day most of the time if you know what you are doing with faz..But in trying to take in a larger picture 30min 60min and daily...alot of shit has to happen for faz to turn big time..yes/no
iswing64 [20:00]: not saying no trades there...just not a trend???
iswing64 [20:05]: and there are unfilled gaps at lower prices..those never backfill..lol
iswing64 [20:05]: daily
nester [20:06]: well, the daily chart is mixing back up again. who knows from here. it is day trades only on it. wouldn't swing it very often right now. with the way the bear/bull indicator tanked right before the close, it was worth the risk
nester [20:11]: what are you watching?
iswing64 [20:12]: Ok you still use trend lines...daily?
nester [20:13]: on my swings, yes
iswing64 [20:13]: ung,crus mspd..I'm also in a crappy stock GORO..but doing well with it..lol
iswing64 [20:14]: have some F options..and YHOO options..
nester [20:14]: you buyin options or stock?
iswing64 [20:15]: Both but options free up much more cash...
iswing64 [20:15]: in a way
nester [20:16]: i'm trying to only get into no more than 4 at a time. get more disiplined
iswing64 [20:17]: I hear that nester..easy to overtrade..
iswing64 [20:17]: Oh and bought some IMGN..kinda scary..
nester [20:18]: you going long more than short?
iswing64 [20:18]: well wife taking me out nester..got to run..bud.
nester [20:19]: c'ya take care
iswing64 [20:19]: Yes but quick to sell if things turn on me...lol
Hyperion [21:25]: Global markets celebrated on Monday at the merest hint that China would let its currency appreciate, showing just how badly the Middle Kingdom is needed to drive a recovery in the sagging world economy.
Gar [22:30]: For anyone interested, my book is now available in paperback from LuluPress. http://www.lulu.com/product/paperback/low-stakes-power-trading/11398654 . Of course there is still the classic ebook on our site--- www.garsworld.com/bookpromo.htm . Great material to trade with almost nothing.
MoneyMan [22:33]: What do you guys think about CLS stock???
Gar [22:35]: CLS...depends on two factors. One, depends on the direction of the market. If the market heads south, I don't see how CLS can move up. Two, there might be stiff resistance around $9.40 or so.
Gar [22:37]: By the way, sometime next week we will be starting live webinars. Mostly for a fee, but some occassionally free. This should vastly improve everyone's trading results with SV!
iswing64 [22:52]: Money Man..Technically like the daily chart..has ma's crossing p-sar signal..Daily aroon looks like downtrend is weakening..but aroon up is still down on daily..but up on 60min...so it may move up.However i'm not a pro trader..good luck to you.
123 [23:37]: poor volume on CLS under 1 million
Andrew [23:44]: I agree with Gar on CLS. Also near 9.20 I'd probably only take on at most just a 1/3rd position, maybe add 1/3rd if it pulls back to the 8.70s and seems to be bouncing back higher, and other than that wait until it holds above 9.40 for a little while to add to make a full position. Just one possible way of trading it.
|
|
