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Forum date: 07-05-10
JayBird [2:54]: Tomorrow morning, four economic reports are scheduled to be released before the open: Nonfarm payrolls (Consensus -100K), 2) Unemployment Rate (Consensus 9.8%), 3) Hourly earnings (Consensus 0.01%) and 4) Average workweek (Consensus 34.2).
nester [7:35]: NEW YORK (AP) -- Stock futures were little changed Friday as investors avoid making any big moves ahead of the government's key monthly employment report.
Pessimism has been growing among investors in recent days about the health of the jobs market and economy as a whole. Major indexes have fallen two straight days after disappointing reports on hiring by private employers and weekly jobless claims.
Traders are concerned that the pace of the economic recovery is not as quick as they had once hoped. That's primarily because of a weak labor market. High unemployment has kept consumers' confidence low and retail sales from growing rapidly. Consumer spending accounts for the largest portion of the nation's economic activity. Until employers accelerate the pace of hiring, the economy is expected to grow only modestly.
nester [7:36]: BEIJING (AP) -- China's economy grew even faster in 2009 than previously reported, adding to concern the flood of stimulus spending and loans that drove its rebound left a dangerous glut of unneeded factories and other assets.
The government raised its estimate of 2009 growth on Friday from 8.7 percent -- already the fastest among major economies -- to 9.1 percent, boosting China's economic output to the equivalent of $4.98 trillion. That suggested Japan clung to its title as the second-largest economy with just under $5.1 trillion in output.
nester [7:36]: WASHINGTON (AP) -- Concerns are rising that the economic rebound is stalling, but a strong jobs report on Friday would go a long way toward assuaging those fears.
Conversely, a report showing private employers failed to create many jobs in June will amplify worries that the recovery is weakening and won't be strong enough to put many of the 15 million unemployed back to work anytime soon.
"The economy is losing some momentum," said Ryan Sweet, senior economist at Moody's Economy.com. "We need to see private hiring really accelerate."
Analysts forecast that employers cut a net total of 110,000 jobs in June, which would be the nation's first loss of jobs in six months. But that figure includes the expected end of about 240,000 temporary census jobs.
nester [7:36]: ROME (AP) -- European markets rose modestly Friday, with mining stocks boosted by Australia's decision to dump a "super profits" tax on the sector, but sentiment remained fragile ahead of a crucial U.S. jobs report.
The Australian government defused a damaging fight with big business by retreating from a planned 40 percent tax on miners' biggest profits, opting instead for a softer resource rent tax of 30 percent.
Resource-related shares advanced in Australia, with BHP Billiton Ltd. rising 0.3 percent and Rio Tinto Ltd. up 0.7 percent -- and boosted trading on London's FTSE 100. Anglo-American Antofagasta rose 1.2 percent and Kazakhmys was up 2.8 percent.
Ben Potter of IG Markets said it remained to be seen whether the early trading comeback will be sustained throughout the day, with the U.S. nonfarm payrolls data due out in the United States expected to have more bearing on market momentum.
nester [7:37]: DETROIT (AP) -- Americans' enthusiasm for new cars and trucks cooled in June on worries about the economy, signaling that the auto industry's recovery is far from certain.
GM, Ford and Chrysler said sales of new cars and trucks fell between 12 and 13 percent in June from the prior month. Sales at Toyota Motor Corp. slid 14 percent. Hyundai, however, bucked the trend with a slight gain.
People are holding off on big-ticket purchases because they remain anxious about unemployment and home values. Tightfisted consumers could mean a tough summer for automakers, who hope to improve sales after a dismal 2009.
"The market remains very challenging and the recovery continues to be at a very gradual and modest pace," said Bob Carter, a Toyota vice president.
nester [7:38]: July 2 (Reuters) - U.S. Treasuries edged down slightly in Asia on profit-taking on Friday, although trade activity was modest ahead of U.S. payroll data and a long U.S. weekend.
* 10-year Treasuries US10YT=RR fell 3.5/32 in price to 104-17/32, yielding 2.97 percent, compared to 2.96 percent in late U.S. trade.
nester [7:39]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trading in Friday's session are Dell, Google and Amazon.
karenbcz [8:08]: It's time for the "bounce".
karenbcz [8:09]: Just another opportunity to open SHORT positions. Yippeee!
nester [8:12]: karen - i tend to agree with you. thinkin a +70 day. all my short setups will have a chance to get "perfect" then i'll ride them down hard. great time to be here...
madriver [8:15]: morning all
nester [8:16]: morning mad
madriver [8:16]: nester....see anything you like yet?
madriver [8:18]: assuming green I like DRYS, BZH see what happens....what do you think?
karenbcz [8:19]: Nester: what has the most long leverage?
karenbcz [8:22]: TNA - already up $2 since yesterday.
nester [8:23]: mad - looking at a few new ones SCHW AMAT & MAS all short. would play them unless the market tanks. if we head north today like i think we will, then they should be great shorts come Tuesday
Willie2 [8:24]: n22
Treacherous_Cretin [8:24]: market typically goes against the prevailing trend ahead of three day weekends. So it may try a bounce today.
nester [8:25]: karen - you may want to look at SPXU
Treacherous_Cretin [8:25]: that is just based on probabilities historically.
madriver [8:25]: TC ....looks like that may happen today
karenbcz [8:25]: Watch the $470 JUL $OEX calls. They were only $1.oo yesterday. Now $1.67.
Treacherous_Cretin [8:25]: Other factors to consider are the euro bounce yesterday was pointless...which is the only reason the market bounced
Treacherous_Cretin [8:26]: and the employment data could be surprisingly bad
madriver [8:26]: TC....I think employment going to come in as expected IMO
Treacherous_Cretin [8:26]: If we bounce today, I would look for the market to continue tanking next week
nester [8:26]: they are expecting 9.8% unemployment this morning
karenbcz [8:27]: I think for this bounce, I'm just gonna watch the Jul 470 OEX calls ... see how high they go.
karenbcz [8:28]: Nester ... and of course 9.8% is a LIE. Last I heard unemployment was more like 17%.
Treacherous_Cretin [8:28]: data is al manipulated anyways, so the number is pretty meaningless to me
nester [8:28]: thinking FAZ & TZA short FAS long
Treacherous_Cretin [8:28]: that is the U6 number karen
madriver [8:28]: I think that's where it will come in or 9.6 because of summer jobs/construction
karenbcz [8:28]: TC - yes!!!!
Treacherous_Cretin [8:28]: they don't put that out for public consumption
Treacherous_Cretin [8:29]: just like there is no inflation simply because of the way it is calculated
karenbcz [8:29]: TC- "the media" NEVER uses the U6 number. How convenient!
karenbcz [8:29]: TC: keeps ppl out of touch with reality.
madriver [8:29]: TC...what is U6?
Treacherous_Cretin [8:29]: people keep themselves out of touch with reality
Treacherous_Cretin [8:29]: I don't blame the media
Treacherous_Cretin [8:30]: people are stupid meatballs
nester [8:30]: they quit using that years ago. the U4 is back from the early 90's on the reports
Treacherous_Cretin [8:30]: data is there for anyone that can read or ask a question
karenbcz [8:31]: Nester: the U6 still shows up on gov't reports.
karenbcz [8:31]: You can access from Dept. of Labor Statistics.
karenbcz [8:31]: Numbers don't lie.
madriver [8:32]: 9.5 unemployment
nester [8:32]: mad - http://portalseven.com/employment/unemployment_rate_u6.jsp
Treacherous_Cretin [8:32]: what was the number? I see the futures wonking up and down. No news on here
karenbcz [8:32]: THANK YOU NESTOR!
Treacherous_Cretin [8:32]: 9.5? LOL
nester [8:32]: karen - i understand it shows up. they quit reporting those numbers years ago
madriver [8:32]: thx Nester
madriver [8:33]: TC....that's what they are telling us!!!
Treacherous_Cretin [8:34]: well if you understand the number thety report and that it does not include people who have lost benefits and/or given up looking it could be 9.5
nester [8:34]: 9.5% LOL watch come tues / wed for the "revised" number
karenbcz [8:34]: LOL!
karenbcz [8:35]: yep ... always "revised"..
karenbcz [8:35]: lyin' bastids!
madriver [8:35]: TC....that's why I said thats what they are telling us........sarcastic
nester [8:36]: true TC it is a skewed number. they will not count those that fall off and there were a bunch that "fell" earlier this week
Treacherous_Cretin [8:36]: I don't feel well enough to be here today so have fun
nester [8:36]: take care TC
madriver [8:36]: later
Treacherous_Cretin [8:36]: going to disappear for a while
Treacherous_Cretin [8:36]: be well people
nester [8:36]: get healthy we need you here
madriver [8:37]: hope you feel better
karenbcz [8:37]: Ewwww! what happened to the bull ETF list?
Treacherous_Cretin [8:37]: you don't need me nester. I just make noise anyways
Treacherous_Cretin [8:37]: bye folks
karenbcz [8:37]: Did Gar revise?
nester [8:37]: you would be surprised...
madriver [8:38]: agree....TC is a wealth of knowledge
nester [8:39]: I'm confused again... it is showing emini futures at -747 unemployment is far better than expected so, shouldn't that be flat or green?
karenbcz [8:39]: don't trade news!
madriver [8:40]: you would think....
123 [8:40]: euro is falling....thats what drags the market around
nester [8:40]: those numbers should drive this market green today
nester [8:41]: 123 - your up early
madriver [8:41]: just looking...nothing seems to be really moving
123 [8:41]: always up but too busy to chat
madriver [8:43]: gotta be light trading day I would think unless they but their computers on cruise contorl
karenbcz [8:43]: TNA up $2 yesterday.. TNA = best long play.
123 [8:43]: I got back in spy puts I posted yesterday....the charts showed a big move was about to happen up or down....went against me but holding,,got bad entry at $7.50
nester [8:43]: WASHINGTON (MarketWatch) -- Total job growth dropped in June for the first time this year due as a quarter million temporary census workers were laid off, the Labor Department said Friday. Private sector payrolls expanded by a modest 83,000 in June lower than the 115,000 gain expected by economists surveyed by MarketWatch. The unemployment rate dropped to 9.5% in June from 9.7% in the previous month. This is the lowest level since July 2009. There was a sharp 652,000 decline in the labor force in June. Economists had expected the unemployment rate to remain steady. Average hourly earnings were flat in June. Economists had been expecting a 0.2% gain. Earnings are up 1.7% in the past year. The average workweek was 34.1 hours
nester [8:44]: 123 - the $109 puts?
123 [8:44]: yes nester same 109 puts
nester [8:44]: july or aug?
123 [8:45]: 3rd week july expire....they had some that expire today and some that expire next week also....luck I noticed
123 [8:46]: july 17 exp
nester [8:46]: wow... glad you said that. didn't even notice it
nester [8:48]: showing at 6.54
nester [8:50]: 123 - did you get a mailer from Ameritrade the other day? titled ThinkMoney 09
madriver [8:50]: nester...strange you mention that....I did....didn't read it yet!!
123 [8:51]: yep like I said I got smoked right out of chute....I made $750. on it yesterday to lessen the paper loss got 10 contracts......did not get anything from ameritrade
kotarah [8:51]: good morning
madriver [8:51]: what's the 09 part about?
nester [8:51]: mad - read thru it. it is all about option trading. will work in great with Gar's upcoming webinar
nester [8:52]: morning kotarah
kotarah [8:52]: KERX looks good again
madriver [8:53]: nester...guy on front pulling his suit apart...ran up and looked at it
123 [8:53]: I have to get my charts ready for trading good hunting everyone back latter
nester [8:53]: yes mad
madriver [8:54]: I will read
madriver [8:55]: kerx is hanging in there
lindo [8:55]: morning all
kotarah [8:55]: YES and you could have held
Andrew [8:55]: Good morning.
madriver [8:56]: morning
kotarah [8:56]: good morning
madriver [8:56]: kotarah.....can't cry over spilled milk...or whatever
kotarah [8:56]: how is your immu ??
madriver [8:57]: doesn't look so swift right now....it moves wildly so anything could happen I suppose
LEECO [8:57]: good morning nester,macd,kotar,Andrew,lindo,123,karenbcz,T_C,jb
kotarah [8:58]: morning Leeco
madriver [8:58]: hey leeco
madriver [8:59]: LEECO---looks like a good weekend for your pool!!
Andrew [8:59]: Hi Lecco. I hope you enjoy the holiday weekend.
nester [8:59]: morning Leeco
knight [9:01]: good morning
madriver [9:02]: morning knight.....what does the day look like to you?
knight [9:02]: my FAZ, FAS and TZA are doing very well again this morning
madriver [9:03]: you might light it up today with those!
Andrew [9:03]: It seems likely that we could bounce after getting kind of oversold and now unemployment isn't quite as bad as expected. But the data is mixed and we're in the midst of a strong downtrend within a downtrend within an uptrend, so my default is still down short term.
kotarah [9:03]: SQNM Sequenom: Sequencing cost analysis slightly encouraging, however competitive threat grows - Wedbush (5.50)Wedbush notes, based on conversations with lab players already using next generation sequencing technology in clinical operations, it believes that the all in costs per sample (assuming 4-plex) could be $500-$600 at present and could come down significantly with new technologies. As a reminder, SQNM could face competition from companies taking the cell-free nucleic acid approach as well as the intact fetal cell approach. Firm currently views fetal cell-based companies as the most threatening to SQNM's Down Syndrome strategy and progress in this area has recently accelerated.
nester [9:03]: SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger on Thursday ordered about 200,000 state workers to be paid the federal minimum wage this month because the state Legislature has not passed a budget, but the state controller is refusing to comply.
Most state employees will be paid the federal minimum of $7.25 per hour for the July pay period.
madriver [9:04]: ouchh
knight [9:05]: these are easy trade for news traders
rw [9:07]: what has kerx been selling at pre market
madriver [9:07]: looks to be at 3.5
knight [9:08]: Kotarah Kerx is probably sell after the news process -
Andrew [9:08]: It has a ridiculous spread right now RW 3.30 bid and 3.59 ask.
rw [9:08]: 12,ooo shares have sold but I see no prints - have been out running
kotarah [9:08]: We will see MR KNIGHT
rw [9:09]: Mr. Knight -----WIll we close up today ?
kotarah [9:09]: still held over night 2500
rw [9:09]: kerx sold at 3.50 at 9:02
Andrew [9:10]: A few shares traded at 3.60 yesterday post-market.
knight [9:10]: i think we will have a little down around 10 am and we will be up preparing for the summer rally after july 4
madriver [9:10]: LOL
knight [9:10]: that's the way MM want
kotarah [9:10]: looks like a small rise RW
rw [9:10]: I just see nothing to be bullish about - nothing...but the markets trade on other things....I guess
madriver [9:11]: knight do you realize since you said up we are down like 400 on the dow....
nester [9:11]: +70 today
Andrew [9:11]: Eventually the shorts begin to take profits and buyers see lower-risk entries.
madriver [9:11]: neither do I
knight [9:11]: after they have overbash the market
madriver [9:11]: yeah when we reach 8500
rw [9:12]: PM looks good now and open........
kotarah [9:12]: S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: -1.50.
Andrew [9:12]: My guess is still down today though - still going with the main trend recently until the market forces me to change.
kotarah [9:12]: i think it will be choppy andrew
knight [9:12]: me i take position before the rally buying at cheap price now
madriver [9:13]: fbp
PA [9:13]: Good morning Leeco Andrew nester and all
nester [9:13]: we have had 6 down days in a row. due to that, i think we close up today
knight [9:14]: the rally should occur between july 7 and 15
madriver [9:14]: fbp is in a complete free fall....knight you must of got killed on that one!!!
kotarah [9:14]: How the hell did you come up with that ??
jim [9:14]: Morning all
Andrew [9:14]: 10 of the last 11 days have been red though and the green day was just a doji.
nester [9:14]: knight - why those dates?
kotarah [9:14]: morning JIM
madriver [9:15]: guess work Kotarah.......MM live in his backyard.
nester [9:15]: morning jim
kotarah [9:15]: Look like SQNM is moving still have 2500 @ $5.52
knight [9:16]: Pessimism has been growing among investors in recent days about the health of the jobs market and economy as a whole. The Standard & Poor's 500 index has fallen the last two days after the surprising ADP report and an unexpected rise in initial jobless claims. The S&P 500 is down in eight of the last nine trading sessions, falling 8.1 percent during that time.
madriver [9:16]: knight I hope you're right for all the people that have money stuck in mutual funds however time will tell
Wizard [9:16]: Knight, you called on June 15 HOV-4.79, JASO 5.00 . FBP 1.06, SEED 9.16. USG 16.00, FNM .45 and .58, FNM .43 and .55, Where are those losses, did you forget to let us know, or wait jealous. I follow in the background, your losses never come up, but you bragg on easy money all the time. go figure
jim [9:16]: Morning Nester, Kotarah
karenbcz [9:17]: Anyone playing FAS or TNA this a.m.?
jim [9:17]: Yes Karen FAS
nester [9:18]: thinkin ERX long this morning
knight [9:18]: my sytem sold them with a little lost 5 % a while ago wizard --- don't you already know my system ?
Andrew [9:18]: I like FAS if we see a morning panic and go down a ton very fast. Otherwise I think I prefer FAZ as a default.
jim [9:18]: Bought FAS in the mid 17's yesterday
Andrew [9:18]: Great entry!
jim [9:19]: unfortunately I also have some in the 19's
knight [9:19]: it's automatic - i don't really care - already told folks on this board a while ago... don't want to repeat again
Andrew [9:19]: Yes, cutting losses is always essential.
nester [9:20]: good entry jim.. i should have played that with you...
knight [9:20]: who is wizard , someone know him ?
madriver [9:20]: knight.....wizard might be new.....we understand you stop out without posting
rw [9:20]: Mr. Knight - Thanks for your posting and comments.
Wizard [9:21]: knight your system tells you to buy, but not letting everyone here know , they get stuck in trades, you leave for days, and stuck in bad trades, lot of help for others, good move on your part.
madriver [9:21]: Wizard...he stops out at 1% or something like that but doesn't post......to each their own
nester [9:21]: where do you guys see FAS going back up to?
knight [9:22]: that 's free posting advise
Andrew [9:22]: If anyone here is new to trading, the most important thing (Rule #1, Rule #2, and Rule #3) is to always have a stop loss in place!
kotarah [9:22]: no rain no rainbow
jim [9:22]: FAS should go into the high 19's
knight [9:22]: i am not paid to follow your investment wizard
Wizard [9:22]: madriver why even bother to listen, doesnt make sense. one has losses all the time then.
madriver [9:22]: Wizard...I agree.....however I don't think anyone should follow his trades
kotarah [9:23]: Great advice Andrew would not be caught dead without STOPS
madriver [9:23]: Wizard...there are certainly other people in here you can learn alot from ...knight as well but don't take those
knight [9:23]: i always have stop lost from 5 - 8 %
rw [9:24]: Mr. Knight has automatic stop loss wizard - he does not have time to post all that - he gives us the opportunity to see what he trades - frankly I appreciate that and do not ask for more.........I am surprised that he even takes the time to dot hat as much crap as he hears in chat. JMO
moby [9:24]: or just double down,
karenbcz [9:24]: My LONG pics - FAS, TNA, $OEX
rw [9:24]: I did not mean to offend you Wizard - but someone jumps on Mr. Knight every day here...........
knight [9:24]: so i don't care about losing 1000 - 3000 - 5000 during i am doing 50 - 75 k
karenbcz [9:25]: Nester - FAS = $20 at least.
Andrew [9:25]: Look for good entries where you don't have to risk as much in order to make more, always have a stop loss in place, and try and let winning trades run a bit. If you scale into a position do so extremely carefully, and don't just avg. down without a stop in place (safer to avg. up).
knight [9:25]: if you want you can do the same and see wizard...
nester [9:25]: thx karen. the chart is a bit weak
kotarah [9:26]: morning moby
nester [9:26]: all my charts are set up to go short. havin an issue with anything long here... just me
moby [9:26]: hi kotarah, nice going on KERX, you rock man
moby [9:26]: that was sweeeeeeet
Andrew [9:26]: That's the way it should be nester until the market shows otherwise.
kotarah [9:27]: thanks hope all is going well for you too
Andrew [9:27]: Things can stay oversold a lot longer than people expect.
madriver [9:27]: moby....i lead kotarah to that trade yesterday
nester [9:27]: i know. just feel a decent up day today
moby [9:27]: yeah I read, you rock too mad
madriver [9:27]: kotarah...jagging you I hope you realize
knight [9:28]: one things i have learn very soon it's to focus ON THE PROFIT ..... NO MY LOST -- TO BE POSITIVE IN LIFE AND POSITIVE EVENT WILL HAPPEN IN YOUR LIFE - FOCUS ON NEGATIVE AND NEGATIVE WILL HAPPEN TO YOU ALL YOUR LIFE
moby [9:28]: thanks kotarah, busy as can be at work, making tons of jerky, Happy Fourth of July all
kotarah [9:28]: Im a big boy I can take it
karenbcz [9:28]: Nester: I'm gonna buy that $OEX Jul $470 CALL at the open
moby [9:28]: mad: kotarah has a sense of humor, he is not dellusional like some
Andrew [9:29]: The financials are gapping up a lot so I'm tempted to start scaling into FAZ near the open.
madriver [9:29]: Knight that is a valid philosphy
nester [9:29]: karen - hope you do well with it
madriver [9:29]: cool...so do I so I won't be offended
moby [9:30]: me neither, fire away : ), good trading dudes, late to work, see you on the other side
nester [9:30]: i'm going to watch for a bit... not sure if i'm playing right now.
karenbcz [9:30]: Nester: I will report my PROFIT$$$$$$$$$$$$ :>)
knight [9:30]: and since then i do a lot of money every week bring in my life - that's why i go money now.... wizard very Different from T_C , Nester and MAD MAN and ortrade way to live
nester [9:30]: lol. sounds good
Andrew [9:30]: long FAZ 17.52
madriver [9:31]: shut up knight...you don't know me for nothing.....
Andrew [9:32]: tripled up on FAZ 17.58
knight [9:33]: and my trade are good 9 over 10 = not bad wizard don't you think ?
madriver [9:33]: wizard...you do have an ignore button...use it!!!
LEECO [9:34]: morning knight,rw,PA,Wiz,jim,moby
jim [9:34]: Morning Leeco
knight [9:34]: hi leeco - what's up today
rw [9:34]: colonel leeco - good You remember how peaceful and helpful chat was
Andrew [9:35]: short KERX 3.50
PA [9:35]: Good morning Leeco
Andrew [9:35]: short BP 29.84
knight [9:36]: cpe 6,4
nester [9:36]: ERX long 24.08
Andrew [9:36]: added to FAZ 17.36
Andrew [9:37]: tripled up on BP short 29.73
knight [9:37]: add aig 34,2
rw [9:37]: vz long soon
Andrew [9:38]: out half FAZ tiny gain
kotarah [9:39]: AVNR
Andrew [9:39]: short SPWRA short 12.92
knight [9:39]: take profit from FAS 17.52 to 18.95 part 4
madriver [9:39]: avnr..is moving
karenbcz [9:39]: Would somebody pls. give me a quote on $OEX JUly $475 calls.
Andrew [9:40]: tripled up on KERX short 3.48
knight [9:40]: take profit from FAZ 18.85 to 17.5 part 5 --- very easy money again - for beginner
Andrew [9:41]: added to FAZ 17.53
rw [9:42]: vzstill falling
knight [9:42]: take profit from TZA 8.95 to 8,29 part 1 - easy profit again for beginner
Andrew [9:43]: added to SPWRA short 12.97
knight [9:43]: you see again PEIX is going up up up - went in again at .53 yesterday anyone jump in
knight [9:44]: Why anyone complain about those pick --- i wonder ?????
Andrew [9:45]: I think it's just if they bought before 6/29 and had a stop loss in place.
ortrade [9:45]: CIG 200s@15p
Andrew [9:46]: added to SPWRA short 12.91
nester [9:46]: out ERX long -1.2%
madriver [9:46]: andrew...good call on faz
knight [9:47]: Peix It's quick easy money with a small investment ...
nester [9:48]: short MS 22.98
nester [9:49]: short VVUS 9.45
knight [9:50]: Why PEIX will goes up --- because they now do money and have a huge potential to do more with E15
karenbcz [9:50]: Knight- I agree on PEIX ... I'd 've been better off w/ PEIX instead of wasting my time looking for Index options.
Andrew [9:50]: out 1/3rd FAZ +1.9%
madriver [9:50]: Akrx might be a good short????
Andrew [9:50]: out 1/3rd BP +1.5%
madriver [9:51]: kotarah...kerx appears to be falling apart at the moment
Andrew [9:51]: KERX is holding up pretty well at the moment actually.
iswing64 [9:51]: May see short term support on faz 15min 50sma.stochas is up..however..no ma cross or p-sar
knight [9:52]: if Peix make .10 well then you make 17 % --- in one day - it's really good
nester [9:52]: RGC short 13.24
madriver [9:52]: on the 5 minute it doesn't look as good as it did...IMO
kotarah [9:52]: dont get it down 0.01
Andrew [9:52]: I would have thought it would be at 3.40 by now but there appear to be solid buyers in the 3.40s.
knight [9:53]: it's the 10 am weakness and after we should up
rw [9:53]: vz another great trade out at 26.73
kotarah [9:54]: I cant tell MAD
rw [9:54]: PM also up good
knight [9:54]: add FBP .5
Andrew [9:55]: I'm kind of shorting on the leap of faith that the person selling a ton there yesterday at 3.50 will be back again today.
Andrew [9:55]: The first 5 minute bar suggested that as a possibility.
knight [9:56]: add seed 6,85
rw [9:56]: seed wants to go up
Andrew [9:57]: out another 1/3rd FAZ +2.2%, out rest of BP +1%
knight [9:57]: faz short 17,94
Andrew [9:58]: out 2/3rds KERX -0.67%
Andrew [9:59]: added back to KERX short 3.51
ortrade [9:59]: Exit CIG +17p
knight [9:59]: add fas 18,59
knight [9:59]: add aig 33,7
rw [9:59]: fas going up now
knight [10:01]: kotarah KERX is doing nut
Andrew [10:01]: added to KERX short 3.50
rw [10:02]: people are leaving the exchanges - voloume will go down market will go down per talking heads
Andrew [10:02]: The volume has been increasing a lot the last couple of months actually
PA [10:02]: Long FAS 400*18.46
knight [10:02]: ... the long holiday
Andrew [10:02]: People left during the strongest part of the rally.
knight [10:03]: it's the locking profit process
Andrew [10:03]: out rest of FAZ +3.2%
Andrew [10:03]: long FAS 18.38
rw [10:04]: you are very wise andrew - good trade
knight [10:04]: after come the real investor that chase bargain
rw [10:04]: dow may be down 100 today or more
knight [10:04]: don't think so RW
Andrew [10:05]: Factory orders were worse than expected (might be a reason for some of this selling)
kotarah [10:05]: Sold 2500 SQNM - $50 loss
Andrew [10:05]: added to FAS 18.34
kotarah [10:06]: nice and choppy market
Andrew [10:06]: added to FAS 18.38
Andrew [10:07]: out SPWRA +1%
knight [10:07]: add faz short 18,15
knight [10:07]: add fas 18.4
knight [10:08]: the market is preparing for the next week rally
Andrew [10:09]: shor SQNM 5.51
iswing64 [10:10]: FAZ bb/bands squeeze ..a breakout one way or the other may be close.15 min
rw [10:11]: in and out PM for .5% in and out VZ again for .3%
ortrade [10:11]: FLIR 200s@29.38p
ortrade [10:11]: CIG 200s@15pe
rw [10:11]: PM great trading stock daily
Andrew [10:12]: out 1/3rd FAS +1%
knight [10:12]: we are green again as said
knight [10:12]: we will finish strong
Andrew [10:13]: I think it depends if we start holding above versus below SPY 103.00
nester [10:13]: out MS short +0.4%
Andrew [10:13]: That's where a lot of sellers were waiting yesterday afternoon
knight [10:14]: my solf & jaso are doing again really well
knight [10:14]: and will continue
Andrew [10:14]: out another 1/3rd FAS +1.2%
Andrew [10:15]: out rest of FAS +1.1%
Andrew [10:15]: long FAZ 17.94
kotarah [10:15]: solf looks very strong so far KNIGHT
nester [10:15]: out VVUS short +0.8%
knight [10:15]: target 8-9 range very soon
knight [10:16]: SEED should rally , it's over due
kotarah [10:16]: Market dictates my friend
Andrew [10:16]: added to FAZ 17.88
ortrade [10:17]: Exit CIG -24p
kotarah [10:17]: AVNR
knight [10:17]: i know from my source , they make huge number right now
kotarah [10:18]: I think FLSR is helping push up SOLF..JASO
Andrew [10:18]: added to FAZ 17.79
knight [10:19]: FAZ is a clear short or FAS a buy
kotarah [10:19]: Biotechnology (BBH, XBI, IBB) names continue to be strong through the 1st hour of trading, reversing much of yesterday's relative weaknessSome of the large-cap outperformance seen in BIIB +6.50%, GENZ +5.25%, GILD +2.15%, CEPH +1.70%, CELG +2.40%
rw [10:19]: wind stocks going u[
Andrew [10:20]: tripled up on SQNM short 5.52
knight [10:21]: their is discussion about a possible Buyout for FBP , if so fbp will explode
Andrew [10:21]: short RDN 6.98 (triple position)
kotarah [10:22]: AGYS
kotarah [10:22]: IO
PA [10:22]: Out FAS 18.68 net +$67.89
knight [10:23]: too soon PA
kotarah [10:23]: Both KERX and SQNM stuck andrew
knight [10:24]: i don't med , this are a surprise box
Andrew [10:24]: added to RDN short 7.01
nester [10:24]: our RGC even
knight [10:25]: i don't like med , these are like a surprise box
Andrew [10:25]: added to FAZ 17.79
jim [10:25]: L THC 4.16
nester [10:25]: FAZ short 17.81
kotarah [10:26]: AVNR
knight [10:26]: i like finance stock - these are really cheap now and the only possible way is up
Andrew [10:27]: I think down is still more likely
nester [10:27]: SFD short 14.25
kotarah [10:27]: AVNR up very nice
Andrew [10:28]: We've now had 4 failures above SPY 103.00
nester [10:28]: LOW short 20.35
knight [10:29]: jaso is willing to go higher
nester [10:30]: out FAZ short -0.5%
kotarah [10:30]: I have been in and out JASO and SOLF for years KNIGHT
knight [10:31]: good play kotarah - for how long you play the stock market ?
nester [10:31]: FAZ long 17.99
nester [10:31]: TZA long 8.47
kotarah [10:32]: full time now 5 years
rw [10:32]: HG charts show down close today dow may be down forty points or more
knight [10:32]: well you have the right attitude to make $$$
Andrew [10:33]: Your HG chart show how far the market might sell off?
kotarah [10:33]: not in your leauge Mr Knight
knight [10:34]: It's not a question of league, but more like some folks here who always looking for the lost , and not focusing on the right move to make PROFIT
iswing64 [10:34]: FAZ bb/bands clamping down..interesting to see what kind of move it makes 15 min..should be a trade in there.
Andrew [10:35]: The financials have shown some relative weakness this morning.
kotarah [10:35]: ARNA up again today on weight loss drug FDA will soon rule may be a great short if not approved many say it wont food for thought ANDREW
rw [10:35]: keep me posted Iswing 64
nester [10:35]: FAZ feels like it is breaking back up to the 18.50 area
knight [10:36]: i have start a while ago like you kotarah with less budget
Andrew [10:37]: ARNA looks too risky to attempt to short on the daily.
kotarah [10:37]: I do very well Mr KNIGHT
knight [10:37]: i know , only in you attitude , i know you do well
PA [10:38]: I believe you Knight buying back at 18.31 Thanks
rw [10:38]: Kotarah is a real asset to stock vision Mr. Knight
knight [10:38]: i know
kotarah [10:38]: Commodities Update: Crude Trading Below $73The US Dollar Index continues to trade near session lows, but most commodities are still trading in the red this morning. August crude oil has chopped around near the unchanged line for most of today's session. Crude broke down around 8:30am ET, falling to new session lows of $71.70 per barrel. Crude quickly bounced back and is currently trading modestly lower at $72.59 per barrel, down 0.5%. August natural gas has been in the red for the majority of today's session. The energy component fell to new session lows of $4.751 per MMBtu in recent trade and has remained near that level recently. In current activity, natural gas is 2.2% lower at $4.75 per MMBtu. August gold and July silver both began to see weakness around 7:00am ET and ultimately fell into negative territory. Gold and silver hit new session lows of $1198.80 per ounce and silver hit 17.62 per ounce, respectively. Currently, gold is just below the unchanged line at $1205.60 per ounce, while silver is 0.6% lower at $17.66 per ounce.
knight [10:39]: yesterday she answer all my question about KERX
kotarah [10:39]: I am a he Mr KNIGHT
Andrew [10:40]: added to KERX short 3.57
knight [10:40]: oops sorry
kotarah [10:40]: Global & sector ETF movers- Gold Miners 7 Junior Gold Miners (GDX, GDXJ) bounce back; VIX eases through the 1st hour of trading todayThe Actively Traded Leading Global & Sector ETFs:
junior gold miners & gold miners- GDXJ +2.75%, GDX +1.0%, solar power- TAN +2.25%, Thailand- THD +2.0%, biotechnology- BBH +1.75%, XBI +1.50%, IBB +1.25%, iShares S Africa- EZA +1.75%, iShares Spain- EWP +1.75%, Russia- RSX +1.75%, oil drillers and oil & gas services- XES +1.25%, - OIH +1.50%, iShares Singapore- EWS +1.50%, iShares Taiwan- EWT +1.25%
ortrade [10:41]: nothing much to trade now it is all consolidation on 5min the indexes..
knight [10:41]: you make research on stock before to talk about a stock - that's a way to success
Andrew [10:42]: added to KERX short 3.58
kotarah [10:42]: I constantly do research before a trade is made
kotarah [10:44]: My method is alot different than most
Andrew [10:45]: out 1/4th FAZ +!%
kotarah [10:45]: AVNR pushing ahead
Andrew [10:46]: added to KERX short 3.57
kotarah [10:48]: KERX not falling apart, not yet anyway MAD
Andrew [10:48]: Money is cycling into drug stocks it seems.
kotarah [10:49]: looks that way ANDREW some of the big ones are up over 5%
Andrew [10:51]: The market's gotten rather sloppy the past hour
Andrew [10:51]: added to KERX short 3.58
ortrade [10:51]: FAZ 1000@18.05p
Andrew [10:52]: out 1/4th RDN +1.75%
ortrade [10:52]: had another fast FAZ entry and exit with -99p did not post
karenbcz [10:54]: BIOS - insider info? HUGE BUY at close yesterday.
Andrew [10:55]: Perhaps a lot of the biotechs just got too oversold compared to the overall market since demand for their products probably isn't affected as much by the overall economy as most other sectors.
kotarah [10:56]: Biggest point gainers: AGN (62.62 +4.52), FSLR (120.98 +3.53), ISRL (49 +3.44), WTM (328.75 +3.25), BH (275.87 +2.66), ALX (311.92 +2.55), GENZ (52.35 +2.49), BIIB (49.15 +2.42), THO (25.93 +2.42), WPO (415.55 +2.38), JOYG (52.05 +2.28), ONP (7.2 +2.11), GCBC (16.86 +1.85), XEC (71.91 +1.77), CLW (54.7 +1.66), SAN (68.39 +1.66), ABV (102.8 +1.63), BUCY (49.75 +1.62), RMD (61.16 +1.55), BAP (91.78 +1.54), RRGB (19.11 +1.53), DO (65.36 +1.52).
PA [10:58]: Long FAS 400*18.31
Andrew [10:58]: out 1/3rd SQNM +2.5%
ortrade [10:58]: Financials are the weakest sector now.. good oportunity on faz.
Andrew [10:58]: +2.3%
kotarah [10:58]: SQNM good short ANDREW
Andrew [10:59]: I was going to add more up near 5.54-5.55ish but never got up there. I probably should have just paid the bid there.
kotarah [11:00]: I got out in time saw the weakness
kotarah [11:00]: I got out in time I saw the weakness
ortrade [11:00]: CIG 200s@15.10p
Andrew [11:00]: KERX is holding up extremely well - very scared being short it right now
kotarah [11:02]: I dont think you have a winner here maybe wrong and I have placed a stop just in case
Andrew [11:02]: out another 1/4th FAZ +2.2%
kotarah [11:03]: KERX vol very low
Andrew [11:04]: That's the one thing I still like - not much buying above 3.50 despite how far it has fallen recently.
kotarah [11:04]: HERO is wasting away $2.37
Andrew [11:04]: There was huge buying volume yesterday below 3.30.
kotarah [11:05]: Rated a $4 target now
jim [11:05]: HERO may go into the $1 range
Andrew [11:05]: Wow, what's the news on it?
kotarah [11:06]: I would not doubt that for a minute JIM
nester [11:07]: out LOW short +0.5%
jim [11:07]: no current news but they have lost a portion of their rig contracts with chevron , chevron has declared force majour
nester [11:08]: VVUS short 9.36
jim [11:08]: however when it does I will most likely go with 100k shares for a longer term hold
Andrew [11:09]: out another 1/4th FAZ +2%
Andrew [11:10]: out KERX -1.6%
kotarah [11:11]: AGN calls are seeing interest 7.3K total calls trading vs 1.5K puts (underlying stock up 5 points or ~8%). Most notable volume is in the AGN Jul 65 calls with 3030 contracts trading vs. open int of 7760, pushing implied vol up around 25 points to ~58%
GENZ calls are also seeing interest 11.4K total calls trading vs 1.9K puts (underlying stock up ~6%). Most notable volume is in the GENZ Aug 55 calls with 2190 contracts trading vs. open int of 2880, pushing implied vol up around 10 points to ~39%
CELG Jul 55 calls are seeing interest with 2210 contracts trading vs. open int of 6210, pushing implied vol up around 0 points to ~40%
Puts:
JNPR Aug 24 puts are seeing interest with strength in the underlysing stock. The JNPR Aug 24 puts have traded 6720 contracts vs. open int of 80, pushing implied vol up around 2 points to ~45%
Stocks seeing volatility selling:
BSX Aug 6 calls are active with 5390 contracts trading vs. open int of 5740, pushing implied vol down around 2 points to ~44% -- co is expected to report earnings mid Jul
Sentiment: The CBOE Put/Call ratio is currently: 1.00, VIX: (30.85, -2.01, -6.1%), VXN: (33.05, -1.51, -4.4%).
*Please use the Talk to Us link at the top of the page to provide feedback on this comment as well as the OPTNX comments.
Andrew [11:11]: out another 1/3rd SQNM +2.8%
kotarah [11:11]: SKX Aug 40 calls are seeing interest with 3750 contracts trading vs. open int of 200, pushing implied vol up around 2 points to ~63% -- co is expected to report earnings mid Jul
Andrew [11:12]: out another 1/4th RDN +1.8%
kotarah [11:14]: KERX moving
Andrew [11:15]: KERX reminds me why I usually avoid trading lower-priced stocks.
Andrew [11:15]: Harder to go contrarian in them because they have different algorithms in them.
ortrade [11:15]: Exit FAZ no gain loss.
kotarah [11:16]: BUY it now you will understand later when your asking for a hand to carry all your money
ortrade [11:17]: FAZ 2000@18.17p
kotarah [11:17]: It makes no difference to me 1.00 or 100 stock as long as it makes money
iswing64 [11:18]: L FAZ @ 18.15P..
Andrew [11:18]: Stocks below $5 seem to move differently often.
Andrew [11:18]: In the short-term
kotarah [11:18]: There is another side to shorting ANDREW
ortrade [11:19]: Indexes move today in a very complex pattern.
iswing64 [11:19]: Have faz options both directions
Andrew [11:19]: out another 1/4th RDN +2.4%
Andrew [11:20]: out rest of FAZ +2.5%
Andrew [11:21]: long FAS 18.14
Andrew [11:21]: tripled up on FAS 18.17
madriver [11:22]: I should held onto Kerx....damit
kotarah [11:23]: woulda shoulda coulda
madriver [11:23]: i know.......
Andrew [11:24]: back short KERX 3.65
kotarah [11:27]: I told a kid next to me at the crap table last night bet on the fire bet. I rolled 5 numbers and made 1700 the kid didn,t bet and his girl friend wouldn't talk to him after that the moral of this is YOU NEVER KNOW
rw [11:27]: market is going where I predicted
iswing64 [11:28]: Would like faz price action to ramain in the northside of upper bands..between upper band and 13 ema..for today would be nice..
Andrew [11:28]: out FAS no gain/loss
iswing64 [11:29]: 15min
nester [11:29]: swing - thanks for your reviews last nite...
Andrew [11:29]: out rest of RDN +3.25%
kotarah [11:29]: your welcome NESTER
Andrew [11:30]: tripled up on KERX short 3.66
iswing64 [11:30]: Oh r welcome bud..
ortrade [11:31]: Exit FAZ +400$p
LEECO [11:31]: ghtkotarah-since you seem to do a lot of research on drug stocks -do you have info or a source I could search on SNSS -a leukemia drug developer I bought it when it was $2/share and they just sold $28.5 million at $0.275/share I feel betrayed!
kotarah [11:32]: The S&P 500 Energy Index is stronger this morning as 34 of the index's 39 stocks are trading to the upside. The strongest performers in the index include RDC (+3.9%), APC (+2.2%), HAL (+2.2%), and DO (+1.3%).
iswing64 [11:32]: good job ortrade!!
Andrew [11:32]: back in FAS 18.06
ortrade [11:33]: yeah, noticed the nested channels on 5min Nasdaq and took advantage..
kotarah [11:33]: Leeco SNSS I am familar with I took it off watch list once going under $1
Andrew [11:33]: tripled up on FAS 18.07
kotarah [11:34]: Most of these small Bios do that they get a big run up and right after that that start offering more shares ala SPPI
nester [11:35]: kotarah - whats your gut on SOMX ?
karenbcz [11:35]: OUT of the last of my FAZ @ 18.23.
ortrade [11:36]: right now on Nasdaq, there is dtn facing convergent triangle with epix around 12.40pm. Financial is still the weakest sector but I can afford less risk with large amount of cash on the table.
kotarah [11:36]: I actuall had this stock at $5 hoping it would be approved and it was got out at $10
PA [11:36]: OUT FAS 18.0505 net - $123.90
Andrew [11:36]: out 2/3rds FAS -0.37%
Andrew [11:37]: out rest of SQNM +3.9%
kotarah [11:37]: SQNM getting killed ANDREW look what you have done!!
Andrew [11:37]: I never thought the market would sell off this much.
nester [11:37]: they have had great news lately and yet they continue to fall... just wondering.
rw [11:37]: hmm - I said dow would be down 40 at close I was wrong on that
Andrew [11:38]: added to FAS 17.96
LEECO [11:38]: Thanx kotarah-I guess since I have 6000 shares I can't get anything out of it-I might as well ride it until FDA either blesses SNSS or nixes them ?
kotarah [11:38]: Based on the artical I posted this morning other competition
kotarah [11:39]: Which stock are you refering to NESTER
rw [11:39]: Leeco - do you still have PEIX
nester [11:39]: SOMX
Andrew [11:40]: added to FAS 17.85
kotarah [11:40]: Drug was approved but no manufacturing for distribution
Andrew [11:40]: added to FAS 17.87
nester [11:41]: thx... i rode that wave up a lot and wish to ride again. just sitting back and waiting right now
kotarah [11:41]: Me too it will come
nester [11:42]: if you see it, please let me know
Andrew [11:42]: adde to FAS 17.84
kotarah [11:43]: No problem will do will also include others that are maring moves
ortrade [11:44]: Exit CIG +40$p
karenbcz [11:44]: WHO is still in FAZ or TZA from 2 days ago???
Willie2 [11:44]: Me
karenbcz [11:44]: Willie - dam! You've got GUTS!!
kotarah [11:45]: EXEL bucking the market trend today
karenbcz [11:45]: Willie- WHEN do you plan to get out?
Willie2 [11:45]: Just 20 contracts avg price 1.75
karenbcz [11:45]: what's the price now?
Willie2 [11:46]: July 17 call
Willie2 [11:46]: IS 2.28
karenbcz [11:46]: k.
Andrew [11:47]: added to KERX short 3.67
nester [11:48]: stopped out FAZ +3%
ortrade [11:49]: XLU 500@28.13p
knight [11:49]: add fas 17,9 and short faz 18,55
knight [11:50]: add seed 6,75
nester [11:50]: stopped out TZA 2.6%
knight [11:51]: i am not surprise before a long holiday
ortrade [11:51]: good work nester.
nester [11:51]: thx... market finally went somewhere...
Andrew [11:51]: Nice job nester
nester [11:53]: meeting time. stops in place. back in an hour or so
knight [11:53]: add aig 32,9
Andrew [11:54]: out 3/5ths FAS +1%
Andrew [11:55]: out rest of FAS +1%
Andrew [11:55]: long FAZ 18.40
Andrew [11:55]: tripled up on FAZ 18.43
Andrew [11:56]: back short RDN 6.76 (double position)
Andrew [11:56]: added to RDN short 6.74
Andrew [11:58]: short BEXP 14.88 (triple position)
LEECO [12:00]: rw-was busy sold 4 covered calls DXD Oct 42 for $1.70 -yes I have 2000 PEIX
rw [12:03]: was not sure ====You could do very well on that if it goes to what is predicted leeco
Andrew [12:03]: added to FAZ 18.48 (double position)
ortrade [12:03]: Exit XLU no gain/loss.
LEECO [12:04]: rw-What is predicted on PEIX\
madriver [12:04]: it will die a slow death!!!!
LEECO [12:04]: My average is $1.51
madriver [12:05]: look it's highly more likely that wind and solar are going to get government subsidies than ethanol. period end of story
Andrew [12:05]: added to KERX short 3.67
LEECO [12:05]: macd -why do you say that-at least they willbe selling ethhanol as an additive to gasoline.
madriver [12:05]: matter of fact coal and nuclear are even more likely than ethanol
madriver [12:06]: that's not new LEECo....that's been happening forever
madriver [12:06]: higher mileage cars means less ethanol!!!!!!!
LEECO [12:06]: Wind & solar are a good supplement for out of the way places but not practical for large use
madriver [12:06]: in the winter northern states don't even use ethanol
madriver [12:07]: neither is ethanol
madriver [12:07]: it has NO distribution channel
LEECO [12:07]: You are right on coal & nuc-nuc is our best bet and we should reuse spent rods-remanufacture
madriver [12:07]: LEECO....you can defend your position but it doesn't make sense.
kotarah [12:08]: Bullish signals on FAZ ..TZNA.. ARNA ..AVNR ..LTBR
madriver [12:08]: higher mileage cars and electric cars will use less ethanol...that's a fact
kotarah [12:08]: SorryTZA
Andrew [12:08]: out half FAZ -0.24%
madriver [12:09]: trucks don't use ethanol so what are you left with?????
madriver [12:09]: NOTHING
Andrew [12:09]: added back to FAZ 18.36
madriver [12:10]: LEECO...this is not an attack on anyone....just stating what I know to be true....no offense
Andrew [12:11]: added to RDN short 6.80
Andrew [12:12]: added to RDN short 6.82
madriver [12:12]: hello
Andrew [12:13]: added to FAZ 18.28
Andrew [12:14]: added to RDN short 6.84
madriver [12:14]: LEECO& RW...do you think my points are valid?
Andrew [12:15]: added to FAZ 18.31
ortrade [12:15]: FAZ 10000@18.29p
rw [12:15]: just got back
madriver [12:16]: rw...take a look and let me know what you think.....
rw [12:16]: I will
iswing64 [12:18]: Nat gas hydro..electric..not ethanol.imo.
Andrew [12:18]: out BEXP +1.34%
madriver [12:19]: nat gas is a way better play than ethanol
Andrew [12:19]: out 1/3rd RDN tiny loss
rw [12:19]: Re: Ethanol: I am not technical when it comes to knowing what is good and what is not good for a car but I will not buy ethanol unless absolutely necesary - am afraid of it Yet many chains 7-11 phillips mix it and are selling tons of it........PEIX has not done well - although - I hear it could go up manyudollars wind is doing that now.......I am a very poor source of infomration Madriver........
madriver [12:20]: by the way biomass doesn't work either because it costs a ton to start up then after torching all the biomass you then move to cutting down trees.....guess what.....no ones going to let that happen
jim [12:20]: NGAS, Nuclear, Hydro and wind will be the energy of the future not, ethanol and unfortunately in about 15 years not hydrcarbon either
jim [12:20]: hyrocarbon meany crude oil
rw [12:20]: what are some wind stocks one yesterday that is going up starts with a B now can not find it.
jim [12:20]: meant
jim [12:21]: RW good call on -100 for today
kotarah [12:21]: I would use caution on wind no big grids to handle generated power to homes long way off I used to play BWEN in the $7s look at it now RW
madriver [12:21]: personally don't like wind or solar to be honest as a trade
rw [12:22]: that is the stock kotarah...bwen
madriver [12:22]: I say nat gas and nuclear as the best option IMO
iswing64 [12:23]: Yes mad/jim agree
rko [12:23]: Just finished reading the prospectus for the Direxion Funds family (FAZ, TZA, ERY, etc.). Anyone who trades these should definitely read, especially about the part where they don't recommend holding overnight, since they are re-balanced daily at market close...
madriver [12:23]: lswing you've been quit...what trades do you have on?
Andrew [12:24]: Yes, the prospectus is a useful read.
ortrade [12:24]: Exit FAZ +45$p
Andrew [12:24]: out half FAZ tiny gain
Andrew [12:25]: added back to RDN short 6.81
Andrew [12:26]: added back to FAZ 18.32
Andrew [12:26]: 18.42
madriver [12:26]: kotarah...do you think we go lower towards close or higher?
kotarah [12:27]: thats a good question FZA TZA are bullish I say DOWN
kotarah [12:27]: FAZ
Andrew [12:27]: out 1/5th KERX +1.42%
iswing64 [12:28]: sorry mad..busy at work..just some faz options calls&puts for now..
kotarah [12:28]: still in ANDREW up 3.14%
madriver [12:28]: kotarah....andrew kicked kerx today...revenge from yesterday!!!!
Andrew [12:28]: back short BEXP 14.78 (double position)
Andrew [12:29]: madriver nope, KERX was my worst loser today 1st time around but got back short at a better price
kotarah [12:29]: andrew got caught today on KERX
madriver [12:29]: lswing....probably a good way to play this....not an expert like you though so hope you win
Andrew [12:30]: In order to make money in KERX today I'll need it to hold in the 3.50s.
madriver [12:30]: I'm surprised andrew is trading into a momentum trade like that....doesn't seem it would have the r/r you like??
iswing64 [12:31]: Not an expert either.. but thanx.
Andrew [12:31]: 3.70 was my dream short price for it this morning, and I saw some weakness on the tape near 3.68 from 11:40-12:00
Andrew [12:31]: I started nibbling again at 3.65
kotarah [12:32]: You may get a good short in the end ANDREW on KERX looks like a a bottom here
Andrew [12:33]: It's looking pretty oversold here though short-term, so might be a good buy near 3.61.
kotarah [12:33]: It is oversold to me
rko [12:34]: I think I'M oversold
Andrew [12:35]: added to RDN short 6.82
madriver [12:35]: looks might pull back to 3.48 range?
Andrew [12:35]: added to FAZ 18.44
Andrew [12:36]: I'd be surprised if there aren't some buyers in the high 3.50s, but tought to tell since pretty low volume today.
kotarah [12:36]: Very low anything ca happen now but for now it's ok
ortrade [12:37]: FAZ 500@18.50p
Andrew [12:37]: It just looks like some light-volume profit-taking mid-day. Those who bought near lows yesterday are up about 20% in just 24 hours.
kotarah [12:38]: I took it out yesterday still holding 2500 I wait and see
iswing64 [12:39]: Faz stochastics trying to turn up again 15min..another run to 19?
kotarah [12:39]: I also broke a rule should be out at the 10 MA breach
Andrew [12:39]: You have a good entry price though so you have a lot of wiggle room.
Andrew [12:41]: Its vwap interestingly is right near where it is now.
kotarah [12:41]: yes and Im very confident over all about the stock its this scary market I think positive news will soon come but if it goes to far Im out
Andrew [12:41]: out another 1/5th KERX +2.5%
Andrew [12:42]: out another 1/5th KERX +2.5%
Andrew [12:42]: oops posted twice
Andrew [12:43]: out another 1/5th KERX +3.1%
Andrew [12:45]: out BEXP +1.4%
Andrew [12:45]: out 1/3rd RDN +1.1%
Andrew [12:46]: out 1/4th FAZ +1.2%
madriver [12:47]: looks like headed further south...kinda surprising....
madriver [12:47]: it shouldn't be though since we are in a pretty good downtrend
Andrew [12:47]: out another 1/5th KERX +3.9%
kotarah [12:48]: Sold all 2500 KERX @$3.52 break even
Andrew [12:49]: This KERX move down makes no sense to me. It went up on a lot of volume and then now nobody is buying at all and the selling volume is so light.
ortrade [12:49]: Exit FAZ no gain/loss
Andrew [12:50]: I wonder if the big buyer is taking a break mid-day and the market makers are just messing around with it.
kotarah [12:51]: It is not forthe faint of heart it will do this then all of a sudden it rockets up I have watched this stock since it was 0.18 and started buying and selling it after it hit $1.21 I have made many thousands since then. I will wait and see now ANDREW
Andrew [12:51]: I'm tempted to go buy it here.
kotarah [12:52]: I would wait to see if buying starts
madriver [12:53]: andrw might be the only buyer now...
kotarah [12:53]: The volume is pitifull nothing happening I may buy in at the end of day just to have some shares over the holiday because I expect some sort of positive news
Andrew [12:54]: Its dynamics changed very fast. Now the average buyer in it today is down 2%.
madriver [12:54]: that's a biopharma for you?
Andrew [12:54]: An hour ago the avg. buyer in it today was up almost 3%.
ortrade [12:55]: FAZ 2000@18.59p
Andrew [12:55]: I think I'm just going to stick with my original plan and add back short on the bounces.
kotarah [12:56]: this stock will defy all known rules its crazy see akso how it is easy manipulated It is identical in every way to DNDN
Andrew [12:56]: SQNM wound up getting stronger.
kotarah [12:57]: The stockchastics on KERX has flat lined
madriver [12:58]: someone said to short NEM the other day...that worked out well.
kotarah [12:58]: AAPL pulling back hard now as well
Andrew [12:59]: Risenshine shorted it at 61.85
kotarah [12:59]: shorted what ??
Andrew [12:59]: NEM
Andrew [13:01]: There are a lot of tricky-looking charts today. SPWRA for example breaks out to highs when the market is rolling over and now is making new lows.
ortrade [13:01]: Exit FAZ +201$p
Andrew [13:02]: We're now only about 0.6% away from yesterday's lows in the S&P
madriver [13:03]: spwra did fall apart shortly after that high...himmm
Andrew [13:03]: I think some seller was just waiting to pounce there based on the daily chart.
Andrew [13:03]: It failed pretty close to where its 10-day and 20-day moving averages are.
madriver [13:05]: where does DRYS go from here.....in a holding pattern/stuck in range
kotarah [13:05]: its garbage
madriver [13:05]: no its not.....it going to move...you watch
Andrew [13:06]: The shippers used to be great to trade intraday but now most days they kind of just chop around.
madriver [13:06]: they've had a tough ride to say the least
Andrew [13:06]: DRYS was one of my best ones back in 2008 and early 2009
kotarah [13:06]: every time they move up drys puts more and more stock up Look at EGLE but company
madriver [13:07]: everytime????
Andrew [13:07]: EXM's gotten really sloppy to trade intraday too.
Andrew [13:08]: GNK is sometimes a little bit better
kotarah [13:08]: most all dry bulk is under water
Andrew [13:09]: out another 1/4th FAZ +1%
Andrew [13:10]: DRYS used to be really easy. Whenever it went to lows you could just hit the bid and short it and then it would go down 1%-5% pretty fast without severe retracements.
madriver [13:11]: EXM was like that around the 7-9 range
kotarah [13:11]: It would not be one of my picks
nester [13:11]: out SFD +1.5%
rw [13:12]: i was out Madriver
nester [13:12]: out VVUS -0.5%
Andrew [13:12]: I've found momentum trading much tougher this year, probably due to all the algorithms out there that like buying new lows or selling new highs.
Andrew [13:13]: added back to RDN short 6.82
nester [13:14]: short GNW 12.54
madriver [13:15]: Did you see that guy in the news that worked for the post office until he was 95 I think without going postal...great story
Andrew [13:15]: adde back to FAZ 18.52
madriver [13:16]: gives me hope
Andrew [13:16]: That's a neat story. It reminds me of my great uncle who practiced law into his 90s.
madriver [13:18]: wow...those are great stories ...I hope I'm in that kind of health if I live that long
madriver [13:19]: he said watermelon and alkaline water kept him healthy
Andrew [13:19]: added back to KERX short 3.55
Andrew [13:20]: Here's a pretty wild trading story... http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7862246/How-a-broker-spent-520m-in-a-drunken-stupor-and-moved-the-global-oil-price.html
karenbcz [13:21]: Here's a comment about that 95-yr. old postal worker:
karenbcz [13:22]: "your nuts !! should have left YEARS ago and enjoyed your life ! I started 25 years ago after the Marines and can't wait to get the Hell outta this Hellhole. Good luck to you anyway and enjoy your retirement ! you've served in Hell which paves your way to Heaven..."
karenbcz [13:22]: ROFLMAO!
LEECO [13:23]: iswing- what faz calls are you trading?
madriver [13:23]: andrew...great story....how one person has computer "rights" to make trades like this is beyond me. He's working at walmart now!!!
karenbcz [13:23]: Oh hi LEECO!
karenbcz [13:23]: I just had THE most fantastic celery, potato & carrot soup for lunch!
ortrade [13:23]: FAZ 500@18.53p
Andrew [13:23]: Not many people can say they singlehandedly raised the price of oil by $1.50.
iswing64 [13:24]: Leeco..both 18 calls&puts
LEECO [13:25]: karen=-good stuff I had chinese hot & sour soup yesterday's lunch &b a Tomato ch4ese & salaqmi on rye todayu
LEECO [13:25]: iswing-I take it that is July option spread
karenbcz [13:26]: SWING - Month and SP on FAZ puts?
nester [13:26]: FAZ short 18.50
Andrew [13:26]: added to KERX short 3.53, added to FAZ 18.53
Andrew [13:26]: 18.58
karenbcz [13:26]: thanks for the reminder. I should buy some FAZ puts NOW!
madriver [13:27]: I think traders left wall street early ...headed out to strip clubs, bars, drunkeness in the Hamptons
nester [13:27]: karen - just remember to send a "finders fee" to me..
iswing64 [13:28]: both july 18 strikes yesterday at at about 12:15
karenbcz [13:28]: teee hee hee ... NESTER - you have FAZ puts too?
Andrew [13:28]: You think the financials will be getting stronger karen?
karenbcz [13:28]: I see the JUL $18 are only $1.07
nester [13:28]: not puts just shorted it
iswing64 [13:29]: Faz daily chart looks like evey time we peirce the upper band a couple days..then down she goes ...hard.
Andrew [13:29]: The only thing bullish I see about XLF is that it has held a higher low today (so far).
ortrade [13:31]: Exit FAZ tiny gain.
madriver [13:31]: LEECO...haven't found HEbrew yet!!
madriver [13:32]: I can't imagine this market moving much from here.....it's getting late into a holiday....-50 maybe
kotarah [13:33]: It has peirced the upper bands on and off since the end of JUNE it is extremely bullish along with TZA
nester [13:33]: ERX long 22.99
LEECO [13:34]: macd If you have a "TOTAL WINE: (Cahin) tore-thy carry iy.-Dark and full of flavor
ortrade [13:34]: Exit Flir no gain/loss
madriver [13:35]: leeco...I'll find it..I'll let you know. Have a great weekend
nester [13:36]: Karen - did you buy your puts?
Andrew [13:36]: added to KERX short 3.53
madriver [13:37]: Nester is a saint I believe!!
ortrade [13:37]: XLU 400@28.21p
Andrew [13:38]: back short BEXP 14.57 (double position)
karenbcz [13:38]: Nestser NOT YET....
iswing64 [13:38]: Not sayin i'm not bullish on it kotarah.just looks like it may fall back to 13ema at leastin the near future..but one never know for sure
iswing64 [13:39]: daily
madriver [13:39]: Nester....you better hope those puts work or you are going to hear about it
nester [13:39]: lol...
Andrew [13:40]: added to BEXP short 14.55
kotarah [13:41]: I know Im just pointing out it has been moving like that since the end of JUNE Nester has puts it will propably pull back some but over all it looks to continue the bullish signal long term
Andrew [13:41]: short DCTH 5.80 (triple position)
kotarah [13:42]: The reason all these stocks are bashed You can blame NESTER and ANDREW almost nothing left to short
madriver [13:42]: we need one of those fat finger traders to spike this market up ....right knight?
nester [13:43]: all kind of things to still short... just running out of money and can't get in to them all
LEECO [13:43]: knight-mac asked a question & I have one too-do yopu think the market will drive up to the close
kotarah [13:43]: andrew nester you may want to look at tie?
Andrew [13:44]: Looks good.
Andrew [13:45]: I think I already have too many positions for mid-day on a Friday before a holiday though.
nester [13:45]: only have 3 right now. plenty
madriver [13:46]: never too many positions!!!
LEECO [13:46]: kotar & Andrew -what do you see in tie that looks good?
karenbcz [13:46]: Hey Nester!
karenbcz [13:46]: Nest: Here's a LONG crapshoot ... FRE
kotarah [13:46]: KERX looks like its stuck here again ANDREW
madriver [13:47]: kerx sucks here...
Andrew [13:47]: We're kind of just hovering around support levels from Oct. 2009
Andrew [13:49]: I like TIE short b/c today it was sold back below its 50-day moving avg. and it has maintained a pretty steady downtrend today and has popped up high enough to allow for an entry with good risk-reward.
nester [13:50]: Karen - think i'll stay away from that. thx though
rw [13:50]: avnr may be a good long
Andrew [13:50]: I'm slightly afraid of an overall short squeeze in the market this afternoon though.
karenbcz [13:50]: :>)
rw [13:51]: karen = are you pumping FRE LOL
rw [13:51]: kidding
karenbcz [13:51]: lol! just a crapshoot.
karenbcz [13:51]: but I HATE gambling. Think I'll pass. But I BETCHA it goes to 0.40. Do the math X 10K shrs. :>)
karenbcz [13:52]: $$$
nester [13:52]: crapshoot is an understatement
iswing64 [13:52]: pimpin lol.
karenbcz [13:52]: EZ money ... BETCHA!
karenbcz [13:52]: :>)
iswing64 [13:52]: pimp that stock!!
karenbcz [13:52]: but since I don't "gamble" ... I'll just watch it.
Andrew [13:52]: I think it will have trouble reaching 0.40.
kotarah [13:52]: Smart trend says KERX going to drop to 3.16 trend is down good short for you and excellent buy for me
karenbcz [13:53]: we SHALL see :>)
Andrew [13:53]: What is Smart trend?
iswing64 [13:53]: market club..
Andrew [13:54]: Oh is that one of those alert services the big money always seems to go the opposite direction of?
madriver [13:55]: LOL
kotarah [13:55]: look at SmarTend .com very good site andrew they are on worden that use COMTEX NEWS
Andrew [13:55]: With all those things you need to keep in mind that 95% of traders fail and lots of traders like reading those types of things.
Andrew [13:56]: I'm not saying that specific one. Just those types of things in general.
madriver [13:56]: that is a "cottage" industry unto itself!!!
kotarah [13:56]: It is news that I pay close attentsion too info
Andrew [13:58]: added to FAZ 18.33
kotarah [13:59]: well everyone has there own oppinion I pay attention to any thing that comes across the wire such as an alert then I use all the charting and trends to confirm to each his own
nester [13:59]: out GNW short -0.5%
Andrew [13:59]: added to BEXP short 14.63
karenbcz [13:59]: DAMN!! Look at FRE!!! Told ya'!!
ortrade [14:00]: Exit XLU -11p
karenbcz [14:00]: On it's way to 0.40!
nester [14:00]: added FAZ short 18.31
Andrew [14:00]: It went from 0.37 to 0.3734, lol
karenbcz [14:00]: No, it went from 03675 to 0.3750 . HUGE move for penny stock.
ortrade [14:01]: FAZ 600@18.36p
Andrew [14:01]: Ahh ok. I'm out of my element with stocks below $1.
ortrade [14:01]: Exit FAZ -18p
madriver [14:01]: long weekend coming up...pretty excited...weather is supposed to be great!\
Andrew [14:02]: added to DCTH short 5.84
nester [14:02]: added ERX long 23.11
iswing64 [14:02]: Could be a good one nester..is it a full trading day today?
madriver [14:02]: yes
kotarah [14:02]: AVNR continues
nester [14:02]: yes
madriver [14:03]: not closing early although most financials are done at 1:00 in NYC
Andrew [14:05]: added to DCTH short 5.86
iswing64 [14:05]: WAiting to see if ma cross over middle bands happen..then maybe down to 50 sma 15 min
Andrew [14:05]: added to BEXP short 14.69
nester [14:05]: swing - if this continues up today, will be a great setup short for mid next week. can't wait!
Andrew [14:06]: added to FAZ 18.38
iswing64 [14:07]: Me too!
ortrade [14:07]: FAZ 600@18.37p
nester [14:07]: FAZ is heading to 17.95
LEECO [14:07]: macd-where are you with the great weather-we're going to be in the high 90's in Richmond VA
Andrew [14:07]: Today?
nester [14:07]: yes
Andrew [14:07]: I was thinking closer to 19.00
madriver [14:08]: Leeco...pretty close to you......
nester [14:08]: i'm shorting it...
kotarah [14:08]: wow hugh difference
madriver [14:08]: in Western PA. supposed to reach 90 Sun and Mon
nester [14:08]: it could do both lot of time left
Andrew [14:09]: It probably doesn't bode well for the bears when nester is bullish.
kotarah [14:09]: I must be more cautious
iswing64 [14:09]: ok nester but may find support around middle band 15 min
nester [14:09]: lol... doesn't happen often
Andrew [14:10]: out half KERX +1%
Andrew [14:10]: out 1/3rd FAZ tiny gain
LEECO [14:10]: macd-I worked in Pittsburgh once designing structures on steel plants-but I'm a Phila native
iswing64 [14:11]: kinda depends on stochastics..are down but not out..imo
Andrew [14:11]: KERX had some buying volume come back
madriver [14:11]: cool....city has changed quite a bit for the better....cleaner....
kotarah [14:11]: bought KERX 2000 @ $3.54
madriver [14:11]: there are only a few steel producers left...sent that to Brazil,India and China
Andrew [14:11]: There's a large bid in KERX at 3.55 if anyone wants to jump in front.
LEECO [14:12]: That was in the 1960's
madriver [14:12]: wow......that was before my time!!!! Completely different place now I suspect
madriver [14:13]: leeco ...are you 100 years old or something?
kotarah [14:13]: you see that too you using level 2 andrew
LEECO [14:13]: macd I'm surte you heard of my Alma Mater DREXEL (Dragons) I'mclass of 1941
LEECO [14:13]: No just 90
Andrew [14:14]: I'm not sure yet if it is real, but if so it can provide a low-risk entry long.
madriver [14:14]: wow....good for you ...keeping active both body and mind!!!!
Andrew [14:15]: Sometimes if someone wants to sell 500,000 up higher they might show a bid for 50,000.
madriver [14:15]: Andrew....what do you do for fun?? just curious
Andrew [14:16]: added to KERX short 3.55
LEECO [14:16]: I'm from the days when a computer wasa slide rule-I used one to design at Glenn L. Martin on the B-26 Bomber stress analysis on the wings
madriver [14:16]: that's some history there!!!
Andrew [14:16]: KERX is looking extremely bearish to me now. Fake bidder.
kotarah [14:17]: Im holding now we will see
madriver [14:18]: kotarah....headed south
kotarah [14:19]: AVNR near HOD
karenbcz [14:19]: GOOG just gave me a buy signal. LOL!
Andrew [14:19]: I like watching sports madrive.
ortrade [14:19]: Exit FAZ no gain/loss.
kotarah [14:19]: Im like peppy la pew ill go down in flames
madriver [14:19]: cool...have you watched any of the world cup? Brazil was kicked today
kotarah [14:20]: Brazil was my pick and chile
Andrew [14:20]: out DCTH +1%
Hoecake [14:20]: I can see why trading weekly options can work. You just dont hold overnight
LEECO [14:20]: How does a call option on July 47.50 look for a quck trade now to close?
madriver [14:20]: I didn't realize netherlands was favorite to begin with.....
Andrew [14:20]: I kind of stopped watching after the U.S. got knocked out.
madriver [14:20]: I don't know soccer to be honest
madriver [14:21]: Netherlands was my pick......lol
madriver [14:22]: YGE...just showed up on picks...haven't traded that one in awhile
madriver [14:22]: used to move alot but haven't followed recently
Andrew [14:22]: There haven't been many traps today.
kotarah [14:23]: Thats KNIGHTs play ground
madriver [14:23]: does he trade YGE?
Andrew [14:23]: added to FAZ 18.38
kotarah [14:24]: ALL solar Trina Solf Jaso Solr
madriver [14:24]: yeah...I've seen those.....that's his deal apparently
kotarah [14:25]: look what youve done ANDREW you killed SQNM
Andrew [14:25]: I didn't pull the trigger on getting back in the high 5.30s unfortunately.
kotarah [14:25]: say it ant so
Andrew [14:25]: I think it's just being sold b/c of a breakdown on its daily chart
Andrew [14:26]: It had a long consolidation from 5.60-6.60 and is now below.
kotarah [14:26]: on a small comment by web this morning
madriver [14:26]: this is really annoying
kotarah [14:27]: EXEL continues
Andrew [14:27]: added to KERX short 3.53
madriver [14:28]: I think ARNA pulls back from here but the 1minute doesn't look bad
nester [14:29]: FAZ has been consolidating and i would expect it to break down here in a bit.
madriver [14:30]: what you guys think about ARNA
Andrew [14:31]: added to KERX short 3.51
iswing64 [14:32]: K line trying to turn up nester..be careful
Andrew [14:32]: I don't really like ARNA in either direction but probably safer to buy.
iswing64 [14:33]: 15min stochas
nester [14:33]: it really doesn't want to do anything...
ortrade [14:34]: FAZ 1000@18.45p
nester [14:34]: stopped out ERX -0.5%
kotarah [14:34]: mentioned that awhile ago to ANDREW NESTER it has a diet drug coming up for FDA approval I think OCT I have read much about this and VVUS the difference is VVUS works almost twice as good as ARNA however VVUS has some serious side effects where ARNA doe not Most people think ARNA will not be approved and VVUS has some issues as well
Andrew [14:34]: I can't tell if this pullback in the biotechs is for real or just a head-fake.
ortrade [14:35]: +370$p till now on realized trades.
madriver [14:35]: i think arna is headed south
nester [14:35]: VVUS daily charts are heading south
kotarah [14:36]: well why ask if you know??
madriver [14:36]: I don't know....I said I think kotarah!!!!!big difference!!
iswing64 [14:36]: lol
madriver [14:37]: knight is the only one I know that says "I know"
nester [14:37]: just testing you kotarah...
knight [14:37]: add FBP .$&
rw [14:37]: in PM 46.34. Can not believe I offered 48.34 on a thousand shares - they took order at 46,34 I guess that is pretty much standard - second time that has happened to me this week - kerex i offered 44 dollars a share yesterday
knight [14:38]: add FBP.47
kotarah [14:38]: ARNA may go up more but I think it will tank the only way to tell look at charts
madriver [14:38]: tesing and trying to learn....I never said I know
madriver [14:38]: no kidding
nester [14:39]: that stinkin little spike down on ERX picked me up... i hate that when that happens
LEECO [14:39]: knight-I asaked-do you think the market will go up from here to close?
kotarah [14:39]: No offense MAD
madriver [14:40]: kotarah...just like you I'm not offended one bit....I respect your opinion
Andrew [14:40]: added to BEXP short 14.70
kotarah [14:40]: thanks
Andrew [14:41]: The last 3 hours have been pretty annoying
Andrew [14:42]: The last hour of the day though might actually have some nice movement one way or the other.
nester [14:42]: one of you guys have got to purchase a ton of FAS so my FAZ will fall. volunteers?
lindo [14:42]: Right now it's like watching paint dry if you ask me.
rw [14:43]: out PM small profit- -
Andrew [14:43]: Sometimes these kinds of days wind up leading to great moves near the close when the volume and volatility are decent.
rw [14:43]: NO market will close down about 50 on dow
Andrew [14:44]: The volume though hasn't been that good.
madriver [14:44]: lets guess the close and whoever wins gets a free webinar compliments of GAR
rw [14:44]: early today I said market would be down 40 oin dow
rw [14:44]: sounds good madriver
kotarah [14:44]: The watch list on my radar for BIOs are KERX SQNM CYCC CLDX IMGN VVUS DCTH BIOD ALXA PBTH BPAX GTXI NBIX IDIX AVNR I have 2 positions KERX and AVNR some of these im in and out several have the potential to fly
nester [14:44]: well, i'll stick to what i said before we opened. +70
kotarah [14:44]: OH and somx
rw [14:44]: Kotarah: Again I really appreciate your posts.....
Andrew [14:44]: What do you think of IMGN? It has an interesting daily chart.
Willie2 [14:45]: DJI down -90 points so says Willie
madriver [14:45]: kotarah.....I like the part....several have potential to fly.....can you ID those?
Andrew [14:45]: I'll go with -200.
Andrew [14:45]: Just for some variation, lol
Willie2 [14:46]: Dang hope you right Andrew my FAZ will do well LOL
ortrade [14:46]: nice song, http://www.youtube.com/watch?v=AWGqoCNbsvM
Sandman [14:47]: Who said DJI=9600 ?
Andrew [14:47]: Nester said that yesterday morning.
LEECO [14:47]: I guess 9550
Sandman [14:48]: Well he's real close.
lindo [14:48]: Kotarah, thanks for the info
madriver [14:48]: I guess -75
LEECO [14:48]: Anf that is a WAG
nester [14:48]: i thought we would be up today...
kotarah [14:48]: KERX which you already know CYCC AVNR which Ive alerted all day. CLDX has not awoke but when it does it will pay off I use the 10MA on 5 minute chart and 1 minute as long as the stock remains above the MA
Andrew [14:49]: It was a great prediction. Yesterday we came extremely close - 9615 or so.
LEECO [14:49]: 9550OOPS I meant 9650 which is -82.53
madriver [14:50]: kotarah...thx man!
rw [14:50]: free webinar sounds great
Dirty Ernie [14:50]: The day isn't over! I would watch for short covering going into the close.
Andrew [14:50]: By "yesterday" I really mean 2 hrs ago, lol.
rw [14:50]: any of you every offered several dollars more for a stock - and got stuck??
Dirty Ernie [14:50]: at least on the /ES's
nester [14:51]: out FAZ -0.7% hate that ticker now...
Andrew [14:52]: There are still a lot of people accumulating KERX near 3.50 like yesterday.
kotarah [14:52]: It just looks stuck andrew
Andrew [14:53]: I still like the risk-reward short though, especially now that it has been holding below its daily vwap.
kotarah [14:53]: If any of my alerts for BIOs kick in I will post it for all to see
Andrew [14:53]: Thanks
lindo [14:53]: thanks
Andrew [14:54]: Do you have experience in the industry?
Andrew [14:54]: You seem to know a lot about them.
madriver [14:54]: he's a proctologist
nester [14:54]: TZA long 8.71
kotarah [14:55]: no andrew I am a retired Union offical I read and do research on these small bios I know whats real and what is not
Sandman [14:55]: I though I would never see the price of FAS below the price of FAZ.
Andrew [14:55]: cool
karenbcz [14:55]: Oh! This is interesting! FAS = $18, FAZ = $18.46
madriver [14:55]: former union guy....boy is that surprising
kotarah [14:55]: why??
karenbcz [14:55]: Sand: You and I noticed same thing at same time.
madriver [14:55]: I don't know ....I guess I envisioned something different
kotarah [14:56]: I was 5 years in the Panama Canal before Jimmy Carter gave it away
Andrew [14:56]: Short squeeze time?
ortrade [14:56]: Exit FAZ -60p
iswing64 [14:56]: stochastic on faz still negative though
madriver [14:56]: you sound maybe older than I thought??
kotarah [14:56]: 62
madriver [14:56]: I meant to say younger
kotarah [14:57]: 62
madriver [14:57]: well, you're doing well it sounds like...good
karenbcz [14:57]: SAND???
iswing64 [14:58]: But price action is not really in agreement yet imo.
Sandman [14:58]: yes karenbcz
kotarah [14:58]: all good to me It took awhile for this to sink in
karenbcz [14:58]: SAND: I'm thinking the bottom on FAS was yesterday @ 17.50
iswing64 [14:58]: SAND YES!! heading for the dunes this weekend!
iswing64 [14:58]: lol
madriver [14:59]: iswing....where is that?
rw [14:59]: sold PM again smll profit
Sandman [14:59]: could be I think near the end of JULY the market will drop like crazy. So I think FAS will go lower.
iswing64 [15:00]: Florence Oregon
turbo911 [15:00]: NLST big move
iswing64 [15:00]: right on the coast
madriver [15:00]: is that west of Medford?
iswing64 [15:01]: About 3hrs away from me
Andrew [15:01]: NLST looks interesting
iswing64 [15:01]: yes
Andrew [15:01]: It has a lot more room to run but looks pretty over-extended here
madriver [15:01]: I'm looking through my mail........
madriver [15:02]: nope....didn't find it
Andrew [15:03]: short NLST 2.31
Andrew [15:03]: added to NLST short 2.30
nester [15:04]: ERX long 23.18
nester [15:05]: out TZA short -0.5%
ortrade [15:05]: this market has two many checkboard candlesticks on FAZ. Still have around +290p and looking to stay that way.. If you follow intercalation of channels on Nasdaq you know market is rather bullish now..
iswing64 [15:05]: short faz now?
nester [15:05]: yup
Andrew [15:05]: added to FAZ 18.33
madriver [15:05]: kotara...I was looking at some of those biopharma.....some of those are really thin
nester [15:05]: got stopped out of it earlier
madriver [15:06]: i added cldx to my watch
ortrade [15:06]: I wont do it.. In a bar or two it can reverse nastily..
iswing64 [15:06]: lol
madriver [15:06]: who cares if it's on paper ortrade,,,,,,just do it!!!
kotarah [15:06]: SOMX
nester [15:07]: heading to 17.95
madriver [15:07]: is Gern pharma
iswing64 [15:07]: crossin over middle band ortrade lol..
Andrew [15:07]: added to NLST 2.31
ortrade [15:07]: I trade with purpose mad. If I would be retired with big dogbag I would not care.. lol
Sandman [15:08]: Since 6/25/10 FAZ is up 23.70%.
iswing64 [15:08]: Psar down 15 min
nester [15:08]: ready?
madriver [15:08]: ortrade...understood
Andrew [15:09]: If I don't see some selling soon I think I better get out of most of these shorts.
kotarah [15:09]: still stuck
Andrew [15:09]: out FAZ -0.86%, out BEXP -0.8%
nester [15:09]: cuz were heading to my +75 day
iswing64 [15:09]: ok have your way ortrade..lol
jim [15:10]: looks like a lot of buying into the close
karenbcz [15:10]: FAS breaking out to the UPSIDE!!
Andrew [15:10]: back in FAZ 18.20
madriver [15:10]: nester....I think you're right or close to it...
Andrew [15:10]: tripled up on FAZ 18.25
karenbcz [15:11]: 1K shrs. of FAZ @ 18.12
karenbcz [15:11]: sorry I meant to say FASSSSSSSSSSSSSSSSSS
ortrade [15:11]: I'll wait a tad more before going on FAZ long.
karenbcz [15:12]: I'm gonna make a KILLING on FASSSSSSSSSSSSSSS.
karenbcz [15:12]: A$$$$$$$
madriver [15:12]: he'll scale in I believe
Andrew [15:12]: added to FAZ 18.23 (double position)
rw [15:12]: take a look at PM
iswing64 [15:12]: Support could be around 50sma watch out for that 15 min
madriver [15:13]: PM looks good at the moment
Andrew [15:13]: back short BEXP 14.74 (triple position)
iswing64 [15:17]: stochas on faz in lower range.. so yes ortrade could be right on with a nasty reversal 15
Andrew [15:18]: We're running out of time to finish down -200, lol
iswing64 [15:18]: lol
kotarah [15:20]: ZINC bullish trend
madriver [15:20]: is that horsehead?
Andrew [15:21]: added to FAZ 18.27
kotarah [15:21]: YES
ortrade [15:21]: swing, Nasdaq on 5 min has a textbook inverse head and shoulders.. another reason to stay out of shorts 40 min before close..
madriver [15:21]: here's a crazy one like PEIX....AMEL but I think it's more promising.....beware though
madriver [15:22]: american lithium......it's one of those pump and dump ones but it appears to have stablized abit
iswing64 [15:22]: OK otrade..agree
nester [15:23]: got to get... have a good weekend all.
madriver [15:24]: have a good one nester!!!!
Hoecake [15:24]: see ya
Andrew [15:24]: added to BEXP short 14.77
iswing64 [15:24]: cya nester have a good one
Andrew [15:24]: Bye nester
kotarah [15:24]: Happy 4th Nester to family as well
Hoecake [15:25]: VZ is slowly making a comeback
rw [15:25]: I TRADED VZ twice earlier made a few dollars on it
Andrew [15:26]: out BEXP -0.42%, out RDN -0.42%
Andrew [15:26]: added to FAZ 18.19
ortrade [15:27]: That is aggressive bull action..
madriver [15:27]: andrw....do you plan on holding those faz into weekend?
Andrew [15:27]: added to FAZ 18.18
Sandman [15:27]: Andrew everyone is talking about a double bottom in the market. What do you think?
madriver [15:27]: boy that seems like a risky trade
Gar [15:28]: Here for the close.
madriver [15:28]: GAR you prediction for close is???
ortrade [15:28]: Hi Gar
Andrew [15:28]: I like the time of day.
Gar [15:28]: I think they will sell into this "rally" for the close.
madriver [15:28]: yeah.....and I think they are too early maybe
Gar [15:29]: I agree, the bozo buying is way too early.
Andrew [15:29]: 3:30pm is usually a good time to look for a reversal.
Andrew [15:29]: The buying volume here hasn't been anything that impressive either.
Gar [15:30]: I think most of the "buying" is a pause with the selling.
Hoecake [15:30]: Hey Gar, I read your ebook again on low stakes trading. I swear each time I read it I think I pick up somthing new
Hoecake [15:30]: Its a good read, a couple spelling issues but very good
madriver [15:31]: that's usually what happens when you read something twice
Gar [15:31]: That's great hoecake. Yeah it has lots of gems, many years of experience and info.
Gar [15:31]: I wish it sold better. Sometimes I swear you can offer a bar of gold and some people complain it is too heavy.
Sandman [15:31]: GAR Hi, I don't know how to sign up or get on to the webnar or what ever you call it.
jim [15:31]: Gar have you sold out the training session?
Gar [15:32]: jim, not yet. We had great response but in the last 24 hours it has halted. Still some seats. Hope everyone here signs up --- www.garsworld.com/webinars.htm
jim [15:32]: Sandman just go to the web site
Hoecake [15:32]: I enjoy the book and would reccomend it to anyone that wants to learn the basics
Gar [15:32]: Sandman, the above link will tell you.
Gar [15:33]: By the way the book is available now in paperback.
ortrade [15:33]: FAZ 2000@18.23p
Gar [15:34]: We have about 6 "seats" before we max out. If anyone here hasn't signed up that wants to, you better act soon.
Andrew [15:34]: out half FAZ tiny loss
madriver [15:34]: andrew...if it holds here much longer I'd be a little worried about the FAZ
Gar [15:34]: BVF is begging to be shorted.
Andrew [15:34]: I think it will still be okay
Andrew [15:34]: But I don't like sitting in too much for too long when I'm negative.
Gar [15:35]: This bozo buying is beginning to annoy me for some reason.
Andrew [15:35]: added to FAZ 18.13
madriver [15:36]: boy GAr it didn't take you long to get annoyed
madriver [15:36]: should of been here all day
Andrew [15:36]: added to FAZ 18.14
Gar [15:36]: Well I'm annoyed because I did fantastic earlier in the papertrader. Now I am heavily short and getting hammered...lol.
Gar [15:37]: At least it isn't real. I don't have anything real today, market was too iffy with the jobs data and all.
Andrew [15:37]: out FAZ -0.58%
Andrew [15:38]: Looks like we don't want to reverse.
Andrew [15:38]: long FAS 18.39 (triple position)
iswing64 [15:38]: nope
Gar [15:38]: You know what this is Andrew, most of the talk in trading circles is there will be a 2-3 day rally. So this bozo buying is anticipating that.
madriver [15:38]: Sp weent green
madriver [15:39]: went
Andrew [15:39]: out KERX -0.6%, out NLST -1.4%
Andrew [15:39]: added to FAS 18.49
Gar [15:39]: Only problem is these rallys become seller's bait.
Andrew [15:40]: I guess Friday afternoon short squeezes are always fun
Andrew [15:40]: Except when you've been patiently waiting short through all the mid-day slop
Sandman [15:40]: O.K. All set jut waiting for email.
Sandman [15:40]: just
Gar [15:41]: That's great Sandman. Let me know if you don't get it (sometimes our system emails get blocked by spam filters).
Andrew [15:41]: added to FAS 18.51
Gar [15:42]: Still 20 minutes for this "strengh" to draw new sellers.
Andrew [15:42]: I wonder if they might wait for one more big green bar.
jim [15:42]: GAR let us know how many spots you have left on Tuesday because we will push tuesday to make the webinar a sell out
Gar [15:43]: I will do that jim.
Gar [15:43]: Right now there are 5. Sandman ticked it down from 6...lol.
Hoecake [15:43]: I am going to try to tick it down over this weekend
madriver [15:43]: sellers appear weak to me
Gar [15:43]: Of course if for some reason people sign up in drives, we can always add a repeat session.
Gar [15:44]: droves (not drives)
jim [15:44]: Sandman thanks for signing up come on guy's and gal's let support GAR and fill this thing up
jim [15:44]: let's
Treacherous_Cretin [15:44]: they have tried to rally as I suspected they might
Gar [15:44]: Sellers do apper weak but they might not release their real fury until the final 5 minutes.
madriver [15:45]: they are very weak ....watching TICK
Andrew [15:45]: Yeah with this volume we could still get knocked down hard if someone big really wants out before the weekend.
Treacherous_Cretin [15:45]: only ones want out are short covering. That is all this is
Gar [15:45]: As TC would say, I suspect the shorts are getting blowtorched.
madriver [15:45]: it's over we end postive is my predict
Andrew [15:46]: So much for my -200 guess
jim [15:46]: ticker is very green
Treacherous_Cretin [15:46]: if you look at your charts, nine times out of ten the market goes counter to the trend the day or two before a holiday weekend
Gar [15:46]: Look at that TICK, +1400...which is absurd.
Treacherous_Cretin [15:46]: we should resume going down next week.
Andrew [15:46]: out FAS +0.6
Andrew [15:47]: long FAZ 17.92
Treacherous_Cretin [15:47]: the data was all abominable today. Not a single good thing
Gar [15:47]: This is beginning to scream lunar short.
Treacherous_Cretin [15:47]: makes for a good trading market though
Andrew [15:47]: tripled up on FAZ 17.90
Treacherous_Cretin [15:48]: I did over 10% on a new paper trade account in between naps the last three days
Andrew [15:48]: added to FAZ 17.91 (double position)
Treacherous_Cretin [15:48]: left money on the table with every trade too.
Gar [15:49]: My #1 pick for a lunar short is BVF.
Andrew [15:49]: Looking for some sellers again above SPY 103.00 where there has been a lot of supply recently the last couple of days.
Treacherous_Cretin [15:49]: this is a more flattish close than I would have expected
jim [15:50]: TC is flatish a new technical stock trading term LOL
Treacherous_Cretin [15:51]: I guess so
madriver [15:51]: nice call with FAZ andrw....should be making a little
Treacherous_Cretin [15:52]: the market seems overdue for a bounce, but there isn't any reason for it to do that other than it just seems time
Andrew [15:52]: There doesn't seem to be many sellers here right now.
madriver [15:53]: not really
madriver [15:53]: maybe just flat here?
Treacherous_Cretin [15:53]: feels like short covering to me. nothing more
Gar [15:53]: They sold earlier today and left for the weekend. Seriously.
Andrew [15:53]: That's probably what's most likely.
Gar [15:53]: I agree with TC. No rational trader would be buying and buying long ahead of the weekend.
madriver [15:54]: short covering now plan selling
madriver [15:54]: plain
Andrew [15:54]: Nester called this rally pretty precisely.
Gar [15:55]: I was saying the "rally" would be seller's bait. Any rally will for the next few sessions.
Andrew [15:55]: Yeah here they come.
Andrew [15:55]: out 1/5th FAZ +1.1%
Gar [15:55]: Remember the BB (Bozo Brigade) doesn't make a move until the last minute.
Andrew [15:56]: out another 1/5th FAZ +1.6%
LEECO [15:56]: nestervwas predicting +70 for close-no way I say
Sandman [15:56]: Gar doesn't the market usually tank near the end of July?
LEECO [15:56]: mine was 9650
Gar [15:56]: Wow, what's with the bear/bull jumping to +59??
Treacherous_Cretin [15:57]: that thing seems a lot more volatile than it used to be gar
LEECO [15:57]: GAR-what woiuld do that to the Bear/Bull?
Gar [15:57]: Sandman I don't know, summer months seem random to me, no predictable pattern.
Andrew [15:57]: I guess there were strong buyers yesterday when we sold off as well and that's now 2 days in a row we will finish well off our lows. Market also made a higher low today.
madriver [15:57]: mine was -75 then I changed my mind about 3x
Treacherous_Cretin [15:57]: it used to take days to stage a reversal
Gar [15:58]: The bull/bear is really just the accumulation of the top and bottom ratings. What it is saying is those ratings are snapping around all over the place. Means the market is volatile.
Andrew [15:58]: out another 1/5th FAZ +2%
Andrew [15:58]: Great call Gar about sellers bait.
ortrade [15:58]: Exit FAZ +40p
Gar [15:59]: Yeah Andrew, I think this will become the pattern for the next 2 or 3 sessions. Random rallies which become seller's bait.
Andrew [15:59]: These sellers can be uber-patient.
Gar [15:59]: Wow, this is becoming a mini pound fest.
Andrew [15:59]: out rest of FAZ +2.2%
Gar [15:59]: Great trade on FAZ.
madriver [16:00]: bold but good one
LEECO [16:00]: Gutsy
Gar [16:00]: The real question is how Tuesday opens. Could go either way.
madriver [16:00]: made perfect sense though
rw [16:00]: well I guess I am closest to the projected close my thought was 40 down on dow
Andrew [16:00]: Yeah nice thinking rw
ortrade [16:01]: Total +330$p for the day.. This market is totally insane!!
rw [16:01]: Thanks Andrew ------
Gar [16:01]: I was guessing double 00.
LEECO [16:01]: My guess of 9560 was 35 away
Treacherous_Cretin [16:01]: be well folks
madriver [16:01]: Well...everyone enjoy the long weekend!!!
Treacherous_Cretin [16:01]: have a good weekend
Gar [16:01]: As a reminder, market is closed Monday.
Hoecake [16:01]: Everyone have a great weekend, see you on Tuesday
rw [16:01]: see you tc Hi to Mrs. Cretin
jim [16:02]: bye all
Treacherous_Cretin [16:02]: going to check myself in for some help again I guess
Andrew [16:02]: The VIX is still hanging out around 30.00, so nice volatility.
Treacherous_Cretin [16:02]: see you around
Hoecake [16:02]: Anyone out there know how to make the VIX show in your scottrader
madriver [16:02]: boy I hate to hear that about TC
Hoecake [16:03]: I try to add the symbol VIX and .VIX and it wont show, but yet i can quick quote it without an issue
Andrew [16:04]: Try $VIX
Andrew [16:04]: with the dollar sign
Andrew [16:04]: Have a good weekend TC
Hoecake [16:05]: Humm, ok thanks I see it now but the last is not what the chart shows...oh well at least I can drag it
Hoecake [16:05]: Thanks Andrew
Hoecake [16:05]: Oh there is adjusted...weird
Hoecake [16:05]: Laters everyone
LEECO [16:07]: see my post of 14:49 close of 9650 WAG
iswing64 [16:12]: Have a great weekend all. bye
LEECO [16:21]: BYE_Happy Holiday-our great country's birthday-GOD BLESS THE USA
Andrew [0:33]: Sandman, I missed seeing your question on Friday about the possible double bottom. I do think we're due for a short term bounce pretty soon for a couple of days (and the Bear/Bull Composite just turned green), but since we're in a strong downtrend at the moment my default way of thinking is still down more and to sell the bounces/rallies until the market shows me otherwise. The market to me is guilty until proven innocent. The last few days have been some of my best days trading and I've been doing probably 90% shorts. I'm not going to change until it stops working. The bears have earned the benefit of the doubt in my opinion since the market is below all of its moving averages and the buying volume has been very light.
nester [10:00]: WASHINGTON (AP) -- A second straight month of lackluster hiring by American businesses is sapping strength from the economic rebound.
The jobless rate fell to 9.5 percent in June, still far too high to signal a healthy economy. It came in slightly lower than the month before only because more than a half-million people gave up looking for work and were no longer counted as unemployed.
The private sector added just 83,000 jobs for the month. Looked at from that angle or almost any other, from a teetering housing market to falling factory orders, the recovery is limping along as it enters the year's second half. And that is when the benefits of most of the government's stimulus spending will begin to wear off.
The fate of the economy will hinge on whether it can stand on its own. President Barack Obama acknowledged the slow pace of the recovery and used the new jobs figures to argue for more stimulus spending and extended unemployment benefits.
nester [10:02]: The Treasury’s top civil servant has launched an inquiry into how department estimates of how many jobs will be lost during the next parliament were leaked to the Guardian newspaper.
Sir Nicholas Macpherson, the permanent secretary at the Treasury, said he would initiate the inquiry after the paper reported that the Treasury had calculated that 1.3m jobs would be lost over the next five years as a result of the emergency Budget
nester [10:06]: LONDON (MarketWatch) -- The number of unemployed workers across the 16-nation euro zone ticked higher in May, but the unemployment rate remained at a 12-year peak of 10% for a third consecutive month, the European Union statistics agency Eurostat reported on Friday.
The April unemployment rate was revised down to 10% from 10.1%. Economists had forecast a May rate of 10.1%.
nester [10:07]: MADRID (MarketWatch) -- Jobless claims in Spain fell by 83,834 in June, down 2.1% from the prior month and the third straight monthly decline, according to the Ministry of Employment.
The number of unemployed in Spain, which is the highest in the European Union and nearly all of Europe, totaled 3,982,868. But the number of those getting jobless benefits rose 11.7% on an annual basis. See also Euro-zone unemployment flat at 10%
nester [17:09]: http://www.globemagazine.com/
iswing64 [17:49]: Madriver..do you know if hank has also left the chatroom..permanently? Thanks have a good weekend.
rw [21:32]: Bishop Rook - Welcome - are you a man of the cloth and obviously high in the church hieracy. Welcome
rw [21:32]: Hank ---where is Hank.......?? He was not here Friday....????
BishopRook [21:33]: lol
JayBird [0:37]: I bet BishopRook is a chess player.....lol
iswing64 [11:10]: Morning nester..Question on FAS..I don't see anything from a daily down to a 15 min point of veiw that would even suggest a trend changing event is about to occur..not sayin it won't have bounces...but as far as a change of trend?? what do ya think..
nester [11:13]: morning swing - did you get my email?
iswing64 [11:15]: I didn't look yet..still at the dunes..waiting for my family to wake up...lol i'll look when i get back tonight though..how's your weekend..
nester [11:15]: as far as FAS goes, i agree with you. the price is a bit off the 10ma, so it should pull up every once in a while. the trend is down since April. it should continue if there isn't any news that pushes the market around
nester [11:16]: found a few more to look at for puts / shorts. LTD WYN PXP EXPE
iswing64 [11:18]: Ok lots of people jumpin in on faz..thought i might be the crazy one??
nester [11:18]: hope your havin fun. going out to a friends ranch in a bit. takin the wife and kids. was busy around the house yesterday so didn't do much of anything
nester [11:19]: do u have a buggy?
iswing64 [11:19]: Ok what time frame do you normaly enter from..5 min?
iswing64 [11:20]: ATV's two honda 450'rs
iswing64 [11:22]: Had two others but sold those about 6 months ago..along with a bunch more crap i don't use any more dumped it all into trading acct.
nester [11:22]: i enter a trade in 5 min after the 60 & 30 confirm
iswing64 [11:25]: LTD could be an entry right away tues..15 min -dmi about to cross up and over +dmi...good one nester
nester [11:26]: lol... play money then. use to own a buggy way back when. sand rail. loved it. so much fun the problem is that things broke all the time and i got tired of fixin it. expensive when your 19
iswing64 [11:27]: lol...man the atv's are so advanced and fast...a few mods...even faster..whew!
iswing64 [11:28]: Never had a honda break down lol..
nester [11:31]: remember the first weekend after we built it a friend took it out and broke the tierod on the front end was out on the dunes for 20 min when that happened.
iswing64 [11:32]: Oh man.. not so fun i bet...had to have towed back camp?
iswing64 [11:32]: back to
nester [11:33]: yes. found a guy to weld a bolt to it so we could at least drive it. what a pain
iswing64 [11:35]: wyn..would like to see -dmi turn up and ma's cross over middle band with p-sar down 15 min...it's close though
nester [11:36]: think we are heading down to the 8000 range?
iswing64 [11:37]: PXP ripe and ready to short!!!!
iswing64 [11:38]: You don't believe in sir knights 2 out rally?
nester [11:40]: no, just don't see that happening. we may pullback a bit, but 2 or even 4 days do not count as a "rally" in my books...
iswing64 [11:41]: Same here man...don't see it...just sucker bait.
iswing64 [11:42]: EXPE also a great short imo..
nester [11:43]: so, rank 1) PXP 2) LTD 3) EXPE ?
iswing64 [11:44]: ok hang on...
iswing64 [11:49]: adx/dmi on EXPE telling the downtrend is very strong...may go a long ways..
iswing64 [11:50]: prolly pxp next
iswing64 [11:51]: LTD..But all are setting up to short...
nester [11:52]: thinkin $20 puts on EXPE $22 puts on PXP both Aug puts
iswing64 [11:53]: How much for 18 puts on expe....aug
nester [11:56]: $17.50 puts $0.90 $20 puts $2.25 $22.50 puts $4.20
picker304 [11:57]: Hey two of favorite people online how you guys doing?
nester [11:57]: hey Pick
picker304 [11:57]: Looks like you guys playing them options
iswing64 [11:57]: whoa...picker...nice to see you cuz!!
picker304 [11:57]: Hey swing nester
iswing64 [11:58]: how ya been bud??
nester [11:58]: glad to see you. hope you been doing well
picker304 [11:59]: Been studying options like crazy myself. went on vacation and bought books and studied while wife spent money on clothes lol
iswing64 [11:59]: lol...
picker304 [11:59]: Its good to see you both
nester [11:59]: you going to join Gar's webinar on Tues?
iswing64 [12:00]: we miss you around here cuz...seem to be losing more regular posters...
picker304 [12:00]: nester No not this one still studying on my own a little
picker304 [12:01]: Hows dr kite doing (kites are full of wind LOL sorry couldn't resist
nester [12:01]: let me know if you need anything. getting back into the option thing again
picker304 [12:01]: Thanks nester. Learned alot its the delta thing thats important
nester [12:02]: same green shoots everywhere
iswing64 [12:02]: LOL
picker304 [12:02]: lol
picker304 [12:02]: rally man rally
iswing64 [12:02]: LOL
picker304 [12:03]: Just look at daily or weekly of dow alone. Don't see no rally yet
nester [12:03]: yes, claims this next two weeks are rally... may pullback but no rally in sight i can see
picker304 [12:04]: Just because it corrects doesn't mean rally ?????
iswing64 [12:04]: his charts are normaly upsidedown..
nester [12:04]: hey. love to stay an chat somemore. wife is ready so i got to get. Take care pick / swing have a good weekend
iswing64 [12:04]: A long way from a change in trend...
picker304 [12:05]: gotta go too see ya guys later tell everyone hello for me
iswing64 [12:05]: Picker it was great to see you...drop in some more... bye nester..
iswing64 [14:50]: Nester..one detail i missed on EXPE..is a p-sar on the 15?? not sure why it's there..but i don't ignore those in my chosen time frame..so was thinkin we could bounce up off of lower band..and possibly into middle band area on 60 min chart..as before..have to wait n see.
rw [17:14]: Picker: surprised you left and just evaporated===I wish you well....
nester [10:33]: swing - thx. went back and looked at that again. both the 15 & 30 min charts show the p-sar opposing the trend. the 5 min chart is looking good and the 60 min needs the macd to change over. still looks like a good short here though even though the afterhours brought it up 32 cents. the market looks a bit weak as the bear/bull indicator has fell and the emini's are now pushing -1000
iswing64 [11:05]: Nester PXP 60..prices on north side of bb/bands w/middle band curve up..we would need -dmi to move up and cross +dmi..also p-sar in the way..at the moment. my hope would be 50sma could be resistance..and this short term little up trend will fail.
iswing64 [11:27]: LTD 60 almost identical..
nester [11:32]: swing - did you go back and look at the option prices? still thinkin the EXPE $20 puts are the best priced
iswing64 [11:36]: HMC 60 psar in the way +dmi trying to move up ..may make an attempt to cross middle band.but currently on the south side.
iswing64 [11:36]: Oh hi nester..had chat detached..
iswing64 [11:37]: Are you going to bid on those this week?
iswing64 [11:39]: limit order i mean
nester [11:39]: right now i will say yes. going to see what little white lies they come up with before the opening though.
iswing64 [11:39]: LOL..i hear ya..
nester [11:40]: i am hoping that they drive this up at the opening, maybe gap up +30 points and then buy when it turns back south.
iswing64 [11:42]: yep.. would be a great time to shop for options..
nester [11:43]: r u still out running around the dunes?
iswing64 [11:43]: nope..i'm home..stiff and sore..ugh..
nester [11:44]: lol... hate gettin old.
iswing64 [11:46]: oh man really feeling it..(rodney king style)
iswing64 [11:46]: oops prolly should not have posted that
iswing64 [11:48]: not a racist
nester [11:48]: lol...
nester [11:49]: are you getting into options more ? or still buyin a bunch of stock?
iswing64 [11:53]: Love options more everyday..take a stab on some daytrades..FAZ/TZA..And short F..any stocks i've bought long..only for a day or two..
iswing64 [11:53]: solf was a good long i missed..
iswing64 [11:55]: still have options both directions on FAZ..waiting it out..
nester [11:56]: i need to read up on that more...
nester [11:58]: wish i would have paid more attention to FAS vs FAZ FAS has been a great short since the split
iswing64 [11:58]: Don't know if i will profit on that for sure...was kind of a knee jerk reaction..falling back from 19..figured it should move hard one way or the other...
iswing64 [11:59]: YES!! darn good short
nester [12:01]: FAZ is trending north; however it isn't as strong as FAS south thinkin by the end of this week or first of next week FAZ should break free of that $18 resistance and trek to the mid $20's
iswing64 [12:03]: Fine with me...lol..FAS could remain southbound for some time still.
iswing64 [12:05]: fas 60 peirced upper band and could easily run doun to lower band in a hurry!
nester [12:05]: looks like it. that is another on my short list.
iswing64 [12:07]: but has p-sar on 60..how long that holds up.??
iswing64 [12:07]: may find out soon
nester [12:09]: hard to say with this market. if they continue to hammer it, that won't hold up at all
iswing64 [12:10]: lol no it won't...
iswing64 [12:11]: hammer it...man any little rally gets pounded!
nester [12:13]: still thinkin we get to the 8000 area by the end of Aug?
iswing64 [12:14]: just enough to draw buyers in and.....
iswing64 [12:15]: Yes one way or the other nester..
iswing64 [12:16]: down
iswing64 [12:19]: Worst teen job market in 40 years!! and i'm feeling that too.
nester [12:23]: it is bad... don't see it gettin better for a while
iswing64 [12:24]: Business's closing still..unemployment still well over 10% last i looked in oregon
iswing64 [12:26]: Large vacant buildings...some brand new and unfinished!! for two years now!!
iswing64 [12:26]: New home constuction....HA!!
nester [12:27]: haven't looked around here for the rate. looked up the U6 numbers are they are horrible
iswing64 [12:29]: Small builder's closed shop....maybe i'm too negative...lol
nester [12:29]: the housing down in Florida is bad... they say over 25% have lost their home or are in foreclosure
iswing64 [12:30]: Yes i heard that and with the oil spill...man i feel sorry for your home state
nester [12:32]: it could get very ugly here soon...
nester [12:33]: just waitin for them to claim it a disaster area and evacuate. that will crush the entire area
iswing64 [12:34]: oh and don't forget california...yikes
iswing64 [12:34]: oh that would be terrible!!
iswing64 [12:34]: Hard to have a rosy outlook
nester [12:36]: now you know why i am so bearish
iswing64 [12:36]: lol
iswing64 [12:37]: I know..it's in the charts too..can't ignore it
nester [12:38]: our home is droppin in value weekly with no end in sight. down from 500k to about 180k
iswing64 [12:39]: I think i missed my depression meds...lol
iswing64 [12:40]: Are you under on your morgage..or is it paid for..
nester [12:40]: lol...
iswing64 [12:41]: Lot's of people walking away still or just not making any payments.
nester [12:41]: under just a little bit. have renters in it right now
iswing64 [12:42]: wow a big house?sq feet
nester [12:43]: both. a friend had 5 homes before the crash walked away from 3 taking the courts 28 months to get to his. there are 4 or 5 times more homes a week going into foreclosure than the courts can handle
iswing64 [12:43]: WOW
nester [12:44]: just under 2000sqft but we are only a few blocks off the ocean
iswing64 [12:46]: We had 3 additional family members here for almost a year...thats were the depression meds came in handy..lol
iswing64 [12:46]: Good thing i don't own a gun
nester [12:49]: lol... can understand that. had a simular experience very crowded
iswing64 [12:51]: Are we the only chart freaks here??lol
nester [12:52]: lol... thinkin so
iswing64 [12:54]: Well i'm gonna check out...go do something else for awhile..if you see a good chart..post it i'll check it out later..
nester [12:54]: k. sounds good. have a good day
Gar [20:56]: NOTE: There are still a few "seats" remaining for Tuesday's webinar, so if you planned to sign up, you need to do it soon. www.garsworld.com/webinar.htm
Hoecake [21:15]: Who likes to randomly idle in this chat? I do I do...lol doing research
Andrew [21:15]: What are you researching?
Hoecake [21:33]: looking for anything that could be a couple day hold, just stock scanning, using stock fetcher
Hoecake [22:33]: rw
Gar [23:41]: test
Hoecake [23:42]: Hey Gar I see you lol
Gar [23:51]: Test again
Hoecake [23:52]: See you again
Hoecake [23:52]: lol
Gar [23:52]: Someone is having problems getting chat to post so I am testing it.
Hoecake [23:53]: Is there a way to reset your filters? Say you messed one up, or are they posted online so you can go reset them?
Gar [23:54]: The filters get reset to their defaults if you delete them and re-start StockVision. It will fill in the deleted ones that are standard.
123 [23:55]: test
Gar [23:55]: Hey!
123 [23:55]: working now Gar thanks.
Gar [23:55]: 123 I will email you and tell you what happened. You actually found a very obscure bug.
123 [23:56]: Thats what I do Gar lol.
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