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StockVision
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Forum date: 07-06-10
Andrew [7:19]: Good morning. Gar will be holding his first live webinar today at 8:00 pm Eastern. Among other things, it will cover how to make solid gains while trading very small amounts and how to profit a lot when the market is going down! There will be live sound, video slides and StockVision demos. There are only a couple of spots left now. Go to www.garsworld.com/webinars.htm to sign up.
carr [7:23]: morning DJ and all
carr [7:24]: US STOCKS-Futures bounce as bargain hunters prowl 07/06 07:15 AM
* Futures rebound after worst week in 2 months
* ISM non-manufacturing on tap
* Futures up: S&P 500 11.2 pts, Dow 105 pts; Nasdaq 28 pts
carr [7:27]: RIMM is up in pre-market but almost no volume
DJalecC [7:33]: morning all ;-) hope you all had a relaxing loooong weekend :-)
nester [7:35]: morning DJ
kotarah [7:35]: Morning Nester
nester [7:35]: emini futures are green this morning. last nite they were -1100
nester [7:35]: morning kotarah - going to be an interesting morning
kotarah [7:36]: RW for you (BWEN), to supply structural wind towers for wind sites in the United States for installation in the second half of 2010....
nester [7:36]: NEW YORK (AP) -- Stock futures rose Tuesday as investors try to recover some of the big losses that piled up in recent weeks following a string of disappointing economic reports.
The jump in futures comes ahead of a report that is expected to show the service sector expanded last month, but not quite as fast as in May. The services industry accounts for 80 percent of all employment, so growth in the sector could help assuage worries about high unemployment following Friday's disappointing government employment report.
Economic reports have routinely fallen short of economists' forecasts in recent months. That has investors worried that the growth is not coming as quickly as expected and any expansion will be slow for a prolonged period.
kotarah [7:36]: Yes it looks that way
nester [7:37]: WASHINGTON (AP) -- Two-thirds of U.S. counties became economically healthier in May, thanks to more manufacturing jobs in the Midwest and fewer home foreclosures in the Sun Belt, according to The Associated Press' monthly analysis of conditions around the country.
Yet the improvement appeared to slow in May compared with April, the AP's Economic Stress Index shows. And concerns are arising that the nation's recovery is losing momentum.
Economic stress declined month to month in 33 states in May, aided by lower unemployment. In April, by contrast, stress had eased in every state except two -- and in 90 percent of the nation's 3,141 counties.
Bankruptcy rates around the nation also inched up in May.
nester [7:37]: SINGAPORE (AP) -- Oil prices rose to near $73 a barrel Tuesday in Asia, joining gains in stock markets and the euro.
Benchmark crude for August delivery was up 42 cents to $72.55 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract last settled on Friday, losing 81 cents to $72.14.
U.S. markets were closed Monday for the Fourth of July holiday.
Stocks markets in Europe and Asia rose Tuesday while the euro advanced to $1.2594 from $1.2537.
nester [7:38]: WASHINGTON (AP) -- The first stage of President Barack Obama's health care overhaul is expected to provide coverage to about 1 million uninsured Americans by next year, according to government estimates.
That's a small share of the uninsured, but in a shaky economy, experts say it's notable.
Many others -- more than 100 million people -- are getting new benefits that improve their existing coverage.
Overall costs appear modest at this point, split among taxpayers, employers and individuals who directly benefit, although the biggest part of the health care expansion is still four years away.
nester [7:38]: LONDON (AP) -- World markets rose Tuesday as investors scooped up stocks that had been pummeled last week and anticipated a rally on Wall Street when it opens after a long holiday weekend.
Weak data from major economies over the past few weeks has diminished confidence in a strong rebound from last year's global recession and unnerved markets, many of which are in the red so far this year. But after days of selling, some investors felt some stocks had become cheap, making it a ripe time to buy.
Britain's FTSE 100 index was 1.7 percent higher at 4,905.16 and Germany's DAX was up 1.6 percent at 5,909.57. France's CAC-40 gained 2.2 percent to 3,405.98.
nester [7:39]: NEW YORK (Reuters) - U.S. stock index futures rose sharply on Tuesday, tracking gains in global equity markets, as investors looked to rebound from its worst week in two months.
* "We are looking at a nice bounce here," said Peter Cardillo, chief market economist at Avalon Partners in New York. "It's all about bargain hunting this morning." Cardillo said the market was heavily oversold, with sentiment too negative.
* At the start of a trading week shortened by the U.S. Independence Day holiday, investors will monitor the ISM non-manufacturing report due at 10 a.m. EDT, amid concerns that an economic recovery may be slowing. Economists look for a reading of 55.0 versus 55.4 in the previous report.
* Stocks sold off last week
nester [7:40]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade on Tuesday are Apple Inc. and Allergan Inc.
kotarah [7:41]: NEWS ASX
kotarah [7:41]: S&P futures vs fair value: +7.10. Nasdaq futures vs fair value: +18.30.
kotarah [7:43]: BP up grade NESTER
nester [7:43]: lol...
kotarah [7:44]: NEWS ...GMXR
nester [7:45]: BP up over $31 upgrade lol...
kotarah [7:45]: After a long holiday weekend, equity futures are pointing to a higher start on the heels of a strong overseas performance. S&P futures are +7 vs. fair value while DJ futures are +58.
nester [7:45]: kotarah - do you play mostly long or do you short also?
kotarah [7:46]: Options ,SHORTS and long nester
kotarah [7:47]: I look at stocks long that I track
nester [7:47]: ok... i found a few that look good short. EXPE PXP and LTD
kotarah [7:47]: thanks Nester
kotarah [7:58]: NEWS MU
kotarah [8:01]: NEWS JASO
nester [8:03]: solars will go great today. they got $1.8billion for job creation
kotarah [8:03]: S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +18.00.
nester [8:03]: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/03/AR2010070302219.html?wprss=rss_nation
kotarah [8:10]: WATCHING SOMX
Sandman [8:12]: Well it looks like we're in for a bounce today. I think by the end of the week we'll be under DJI 9600. S & P under 1000.
nester [8:14]: morning Sandman - this morning doesn't look very strong yet. unless something else triggers it, we shouldn't be more than +50 at the end of the day
Sandman [8:14]: morning nester.
Sandman [8:16]: I'll be watching the close to see if the bears take over.
kotarah [8:17]: NESTER... JASO AND SOLF.. trend bullish
kotarah [8:18]: expe
nester [8:23]: SOMX looks like a gap up
kotarah [8:23]: Im watching closely NESTER
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kotarah [8:30]: How was your weekend NESTER ?
kotarah [8:33]: NEWS.. FCEL
nester [8:34]: was good, thx. went out and visited friends and yours?
kotarah [8:34]: very good hot here
kotarah [8:35]: NEWS..ASTM
jim [8:35]: morning all
kotarah [8:35]: Morning JIM
jim [8:36]: Morning Kotarah hope you had a good weekend
nester [8:36]: mornin jim
kotarah [8:36]: yes thx hope yours was good as well
LEECO [8:38]: Good Morning-Hope everyone had a patriotic and fun fourth.-to nester, carr, Andrew,DJ,kotarah,sandman,jim,
jim [8:38]: yes good weekend
Sandman [8:38]: morning LEECO
jim [8:38]: Good morning Leeco
kotarah [8:38]: thx LEECO
nester [8:38]: morning Leeco
jim [8:39]: Morning Nester
LEECO [8:39]: Good to see all the regulars back safe & sound?
kotarah [8:39]: NEWS ..JASO
nester [8:40]: emini futures are moving north +532
kotarah [8:40]: looks good on open
kotarah [8:41]: AAPL $250 now
nester [8:43]: FAZ taking a beating
kotarah [8:45]: It's being flogged
LEECO [8:45]: RE:JASO- news-supply solar cells to MEMC thru 2012-Co.s in Shaghai, China-would it be good for a quick scalp first thing this moerning?
kotarah [8:45]: looks very good LEECO
kotarah [8:46]: SOLF wont be far behind it LEECO
Sandman [8:46]: I know, I'm in FAZ and I'm down $614.19. But I'll stay in until I lose $4000 or start to make money.
kotarah [8:47]: Nester AVNR
nester [8:48]: in a way i am hoping to see FAZ back in the $14's one more time. load up on call options then
jim [8:48]: Sandman a lot of people still think we are in a down market your faz may be ok
LEECO [8:48]: SOLF-up 1.62% in preM; JASO up 3.74%
kotarah [8:49]: I agree Sandman however I would never hold it again over a weekend
LEECO [8:49]: Both Cos. in China
nester [8:49]: AVNR ? looks like little movement. where do you see it at?
Sandman [8:50]: I believe that once it goes below 9600 it will really take a big drop.
rw [8:50]: PM MO should do well today....worth watching
rw [8:50]: Morning to all..
jim [8:50]: Morning RW
rw [8:50]: Jim
rw [8:50]: How about Hank - where has he been
kotarah [8:51]: I will continue to hold until it resends $3.00 is my stop I think it will continue to climb NESTER
nester [8:51]: Sandman - you should be fine if you don't mind holding and seeing it go underwater
jim [8:51]: hope everyone signed up for training tonight it would be great to amke it a sell out there were 5 slots still open on friday
nester [8:51]: kotarah - target on it?
rw [8:51]: I have 1300 dxd - not worried about it also GLD short.
jim [8:52]: have not seen hank in a while
nester [8:52]: jim - glad you said that. forgot it was tonite. looking forward to the lesson
kotarah [8:52]: Morning RW BWEN news for ya today
rw [8:53]: BWEN looked great last week Kotarah. Thanks for the heads up
kotarah [8:55]: BP up 5.6%
LEECO [8:55]: Morning rw-re: SOLF-to annouce earnings 8/3 before open concensus +$0.23 analyst target for Stock $8
rw [8:56]: Kotorah - can not find news on BWEN
kotarah [8:56]: I will post it
rw [8:56]: LEECO I have achanged the HG chart -- It is 50% better - I will e mail you with changes but basically also using Stochastics..........and really trading off candles - changead ma 3 over 13 for daily buys
kotarah [8:57]: (BWEN), to supply structural wind towers for wind sites in the United States for installation in the second half of 2010....
Sandman [8:59]: I'll be O.K. unless FAZ has any splits. I have my news set on FAZ. So I should know if they will split like they did to LEECO.
kotarah [9:00]: SOMX NESTER
nester [9:01]: been watchin... looking decent
kotarah [9:01]: lol
kotarah [9:02]: RW does that help you??
nester [9:02]: may play it. going to wait though as it has a tendency to tank after the first 30 min
LEECO [9:02]: Thx rw- I haven't used stochastic for years-forgot how to use them (for day trades?) In a talk w/TradeBob we decided that is you can get +$100 3 times a day average you come out with $75,000 for a 50 week year-I'm interested in quick scalps day trades.
kotarah [9:03]: yes I have it up on 5 min chart
rw [9:03]: leeco when stochastics go to 20 it is buying sign over 80 is selling sign
rw [9:04]: Leeco - that is how i work - want ot make at least 3 hundred a day...
rw [9:04]: Thanks Kotarah
rw [9:06]: JNK a junk bond fund should be worth 1% today and a fairly safe play.
kotarah [9:07]: RW try using scans for stochastics to find 20 /80
rw [9:07]: Not sure how to do that Kotarah.......
kotarah [9:07]: S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +23.30.
LEECO [9:08]: rw-is that slow Stch or fast-& is that 20% & 80%-EXAMPLE0 BWEN Friday hung at $2.80 with little move uo or down but slow stoch bounced from 0 to 60% to 80%-interpretation??
nester [9:08]: lookin like a solid green day. maybe a +100
kotarah [9:08]: Ask Mr Leeco how its done Scan Parameters
LEECO [9:09]: Fast Stoch same day bounce 0% to 100%???
kotarah [9:09]: We need it
rw [9:10]: stochs are two lines leeco it comes promgramed from your broker
kotarah [9:10]: Hes explaining SCAN parameters RW
jim [9:10]: If market goes to +100 may be a good to buy faz on the dip
LEECO [9:10]: I see a %K &%D??
rw [9:11]: I am not sharp on technical Kotarah........
rw [9:11]: Yes leeco Not sure what they mean....I just plug it in and use it. LOL LOL
rw [9:11]: i can not even operate a slide rule
LEECO [9:12]: How do I use it-I will get my slide rule(s) out if needed
kotarah [9:12]: me either but you should see what options are available to you knowledge is power
rw [9:13]: Thanks Kotarah.
LEECO [9:13]: I will look it up in my Tech Analysis book-But if you can tell me how to apply it I willlater send you detail on what it means LOL
rw [9:14]: LEECO when one line cross other line at 20 it is a buy signal same at top when line cross other line
rw [9:14]: I will give you examples when market opens
rw [9:14]: But mainly I still use candles
Sandman [9:14]: I changed my Stochastic Oscillator to Slow,20,2. I like this the best.
rw [9:14]: stoch just confirms
rw [9:14]: sANDMAN is that for day trading or longer term trading
kotarah [9:15]: Look at wilders RSI maybe helpfull RW
LEECO [9:15]: BWEN is up $0.27 or 9.68% premarkeket-what should stch show?
Sandman [9:15]: I use a 1 month chart.
rw [9:15]: stochs will not work till market opens leeco
LEECO [9:15]: Lines crossing like MACD?
rw [9:16]: bwen closed with stochs high not a buy friday
rw [9:16]: yes
jim [9:16]: out THC from friday 4.31 +3%
Sandman [9:16]: rw what are you talking about? Mine is working on pre hours.
LEECO [9:17]: Sandm-who supplies your charts-I use E-trade-doesn't show stch premarket?
rw [9:18]: I do not see stoch indicators moving sandman.....maybe they are I just do not see it.
kotarah [9:18]: BIOS to watch MU.. NBIX.. ARNA.. SOMX..EXEL..
rw [9:19]: seed looks terrible 6.92 maybe it will go up
LEECO [9:19]: rw-agaun-slo or fast stch?
rw [9:20]: d is 3 k is 14 leeco I have no idea if they are fast or slow
Sandman [9:21]: faz 9:18 STochastic is %k 3.5714,%d 4.0584.
rw [9:22]: BUCY will or could be a good long
kotarah [9:23]: There was NEWS on BUCY this morning RW
rw [9:23]: Hank any one hear from Hank?????
Sandman [9:23]: Faz 9:22 %k 18.1818 %d 13.6364
kotarah [9:23]: NO
rw [9:23]: I will look kotarah
jim [9:24]: no on Hank
madriver [9:25]: Unfortunately Hank decided to leave this chat about 2 weeks ago. He does not intend to return.
rw [9:26]: Sorry to hear that -- I wonder why?
Andrew [9:26]: I don't think so. He was posting just a few days ago.
jim [9:26]: thats too bad
kotarah [9:26]: WHY ??
rw [9:26]: SANDMAN: how wouold you set the d and k on stochastics if you day traded please??
LEECO [9:26]: OSK-worth warctching-got a new Govt contract
rw [9:27]: I will not trade first ten minutes which is not usual for me
Andrew [9:27]: OSK was a great one last summer.
Sandman [9:28]: I don't know because I haven't play with it on daily.
Andrew [9:28]: rw, I like 8,3
rw [9:28]: If you every do please let me know. Thanks
rw [9:28]: thanks andrew.
rw [9:28]: I will do 8 and 3.....
rw [9:29]: did not know you used it andrew
rw [9:29]: JNK should look good early on long
Andrew [9:29]: I have it up just to kind of see when something is looking very oversold/overbought but I don't really trade off of it.
Andrew [9:30]: It can sometimes be good though to prevent an entry, like to avoid shorting something that is already too oversold on the 5-minute.
Andrew [9:30]: long FAZ 17.30
Andrew [9:31]: tripled up on FAZ 17.32
madriver [9:31]: kotarah....are you doing GAR's webcast?
kotarah [9:32]: JASO off to races
Andrew [9:32]: short JASO 5.26
kotarah [9:32]: ALERTS.. PBTH JASO VVUS SOMX
Sandman [9:33]: Well have to go and watch the grand kids. See you later.
Andrew [9:33]: added to JASO short 5.44
kotarah [9:33]: CYTX
Andrew [9:33]: 5.33
kotarah [9:33]: TIE
kotarah [9:33]: ENTR
Andrew [9:34]: added to JASO short 5.30
Andrew [9:35]: added to JASO short 5.35
Andrew [9:36]: added to JASO short 5.36
kotarah [9:38]: HEAT
kotarah [9:38]: JASO
Andrew [9:40]: added to JASO short 5.47
Andrew [9:41]: added to JASO short 5.49 (double position)
Andrew [9:43]: out JASO -2.5%
madriver [9:43]: rw....Hank decided to move on
Andrew [9:44]: back short JASO 5.57
madriver [9:44]: unfortunately he told me he won't be back.
Andrew [9:45]: tripled up on JASO 5.56
Andrew [9:45]: added to JASO short 5.55 (double position)
madriver [9:45]: boy the bull/bear move hard to the right about 30 seconds ago
madriver [9:46]: belt
Andrew [9:46]: added to JASO short 5.53 (double position)
madriver [9:46]: you think buying dip?
rw [9:47]: madriver: Reason I asked is trying to figure out why Hank left.? thanks for info madriver
nester [9:47]: FAS long @ 19.05
jim [9:48]: out second piece of THC 4.30 +2%
madriver [9:48]: rw...wanted to try something different
ortrade [9:48]: CCE 200s@26.46p
rw [9:49]: ok thanks madriver
Andrew [9:49]: added to JASO short 5.58 (triple position)
Andrew [9:51]: added to FAZ 17.31
iswing64 [9:51]: Out FAZ july 18 calls..--37%
nester [9:51]: ouch...
iswing64 [9:52]: Not as bad as it sounds..puts holding up well
nester [9:53]: if i wasn't so bearish, i would play this market some more. just keeping seeing the cliff they are now running to...
Andrew [9:53]: added to FAZ 17.19
iswing64 [9:53]: FAZ 60 min -dmi about to cross +dmi see if it tanks today
kotarah [9:54]: AVNR
Andrew [9:55]: short RDN 7.17 (triple position)
ortrade [9:55]: SPLS 200s@19.49p
Andrew [9:55]: short PCX 11.91 (triple position)
Andrew [9:56]: short SPWRA 13.43 (triple position)
jim [9:56]: smells like a suckers rally
Andrew [9:56]: Stocks are making new highs without much momentum now it seems.
kotarah [9:56]: MFA
kotarah [9:57]: BHI
nester [9:57]: agree... we may get a day or two run then a slap of reality
GWW [9:57]: o
Andrew [9:57]: ISM is coming out in a couple of minutes so things might get pretty crazy around 10:00am
ortrade [9:58]: FDO 200s@39.94p
LEECO [9:58]: macd-hank give a reason?
rw [9:59]: PM long 46.58
kotarah [9:59]: PWER
madriver [10:00]: LEECO...yes but rather not discuss
nester [10:00]: stopped out FAS +0.2%
Andrew [10:00]: ISM slightly worse than expected
LEECO [10:01]: morning welcome GWW
Andrew [10:01]: Market might not care though if we are in short squeeze mode though.
LEECO [10:02]: aNDREW LOOKS LIKE YOUR CONFIDENCE IN jaso'S MOVE TO SHORT IS JUSTIFIED-WHAT MADE YOU DECIDE THAT WAY?
LEECO [10:03]: sTICKY CAPS LOCK SORRY
rw [10:04]: leeco out of PM< 46.69
Andrew [10:04]: I think I'm wrong with JASO - low % win rate with shorting something so strong but I've seen stuff like that draw out a lot of profit-taking so if so, it can be a big gain.
nester [10:04]: ERX long 24.70
kotarah [10:04]: Very Hi BETA andrew
xxcheck [10:04]: 3183me
Andrew [10:05]: added to PCX short 12.05, added to FAZ 17.13
rw [10:05]: leeco stoch and ma convinced me to buy PM nice profit quik and safe
rw [10:05]: Best not to trade dogs -----find good stocks
kotarah [10:05]: GMXR
Andrew [10:06]: added to RDN short 7.18
ortrade [10:07]: FAZ 200s@17.06p
jim [10:08]: out a piece of ICO 3.91 +2%
rw [10:08]: hope some of you bought JNK
rw [10:08]: also BUCY
rw [10:08]: andrew BUCY may be a short now
madriver [10:08]: faz looks terrible at the moment
Andrew [10:08]: added to PCX short 12.09, added to RDN short 7.20
kotarah [10:09]: FSII
rw [10:09]: Mr. Nester did well on his FAS call
madriver [10:09]: hey kotarah.....look at DRYS
kotarah [10:10]: drys
kotarah [10:10]: Dont like it
Andrew [10:10]: short DCTH 6.13
madriver [10:10]: you said it was junk on friday.....well if you held on friday you're up d 6%
kotarah [10:11]: Overall BULK SHIPPERS UP
kotarah [10:11]: MU
Andrew [10:11]: tripled up on DCTH short 6.12
Andrew [10:12]: added to PCX short 12.14
ortrade [10:12]: WBC 200s@32.4p
Andrew [10:12]: added to FAZ 17.04
ortrade [10:14]: Exit CCE -34$p
Andrew [10:15]: added to RDN short 7.26, added to FAZ 17.00
jim [10:16]: out a piece of ICO 3.99 +1%
Andrew [10:16]: added to SPWRA short 13.40 (double position)
madriver [10:17]: what is the "rally" all about? Buying dips?? Seemed alot of bad/negative commentary over weekend.....I guess go opposite of pundits?
lindo [10:17]: DECK just had a stock split
Andrew [10:17]: added to DCTH short 6.09
kotarah [10:18]: ARNA decline
madriver [10:19]: ARna is due for a good slam down
ortrade [10:21]: Exit FAZ -14$p
ortrade [10:22]: FAZ 200@17.15p
ortrade [10:23]: CCE 200s@26.53p
Andrew [10:24]: added to PCX short 12.07 (double position)
madriver [10:24]: bwen short and faz long
Andrew [10:24]: out half FAZ tiny loss
Andrew [10:25]: out 1/3rd RDN -0.25%
Andrew [10:26]: out half JASO +1.42%
rw [10:27]: no reason to be bullish - this is all false .....
Andrew [10:28]: added back to RDN short 7.26
Andrew [10:28]: added back to FAZ 17.11
LEECO [10:29]: macd-ARNA did as you said
kotarah [10:29]: Bios Declining
Andrew [10:29]: added back to JASO short 5.49
madriver [10:30]: LEECO.....hope you did it on paper?
Andrew [10:30]: added to DCTH short 6.02
Andrew [10:31]: out half PCX -0.26%
Andrew [10:32]: added back to PCX short 12.09
Andrew [10:35]: out 1/3rd JASO +1.6%
Andrew [10:39]: short BEXP 15.86 (triple position)
Andrew [10:40]: added back to JASO short 5.47
madriver [10:40]: in anyone see the article in USA TODAY on friday about investing..............
rw [10:40]: PM setting up for a short this afternoon
rw [10:40]: No on usa today article
Andrew [10:41]: out 1/5th DCTH +1.9%
nester [10:41]: mad - were they talkin about this is a good time to invest?
Andrew [10:41]: out 1/5th SPWRA +2%
Andrew [10:41]: JASO I mean
LEECO [10:41]: macd-I am snakebitten by drug stocks-stay far away from them -I have 6000 sh of SNSS @ $2 now selling at $0.445-
madriver [10:42]: it's was laughable....I have to find and post......some CFA towing the line
Andrew [10:42]: Drug stocks can be some of the riskiest to hold overnight since they can be so news-driven.
kotarah [10:42]: NOT ALL ARE BAD LEECO
nester [10:42]: if they are talkin about finding bargans and buying dips, start looking for shorts...
Andrew [10:42]: I think Gar tends to avoid trading them.
LEECO [10:43]: SNSS is agood company-doing development on Leukemia drug and passed Phase 2-but stock stays in doldrums
ortrade [10:44]: Exit FDO +74$p
madriver [10:45]: LEECO....that was more of commentary on ARNA than a trade...I didn't make that trade. Don't trade me......
kotarah [10:45]: Titanium Metals target raised to $22.50 from $20 at Longbow (17.96 +0.69)
madriver [10:45]: I only have FAZ and bwen right now
madriver [10:46]: short on bwen
LEECO [10:47]: I am watching ther BUCY July 50 calls like a hawk-intend to swoop in and take about a 30-40 cent scalp and out
Andrew [10:50]: out rest of DCTH +1.4%
LEECO [10:51]: Bid 5 contracts BUCY July 50 callsw @ $ 2.62
Andrew [10:51]: added to BEXP short 15.93
LEECO [10:54]: Bought BUCY calls $ 2.62- Stop $2.58
LEECO [10:54]: BUCY just turned up
Andrew [10:58]: added to PCX short 12.12
Andrew [10:58]: added to RDN short 7.22
LEECO [10:59]: Andrerwpcx is one of my bags-I have moving chat it shows downturn now 12.08
Andrew [10:59]: out another 1/5th JASO +2.75%
Andrew [11:00]: JASO wound up working out after all in terms of the profit-taking
Andrew [11:00]: out 1/5th FAZ +1%
Andrew [11:02]: out another 1/5th JASO +2.75%
PA [11:02]: Good morning Leeco, Andrew, ortrade, nester,rw and all
madriver [11:03]: from usa today "the trend isn't your friend for long and that momentum tends to peter out just as you start to rely on it"
nester [11:03]: morning PA
LEECO [11:04]: morning PA -no real trend wishy-washy
Andrew [11:04]: That's largely the case when you are trading off shorter time frames. The key though is to be able to stay at an acceptable level of loss long enough to wait for the reversals. They always seem to take longer then I think.
madriver [11:04]: usa today " Bernstein says the advantage of chasing trends is not big enough to help you beat the markets as a long term strategy"
PA [11:05]: Pair Trade Long QQQQ 450*43.29 Short DIA 200*98.42
Andrew [11:05]: My 11:04 comment is in reference to going against the trends in anticipation of the momentum buyers/sellers being shaken out if they didn't wait for a good enough entry.
Andrew [11:06]: Leeco, PCX is showing a lot of strength this morning.
madriver [11:06]: I just think they are feeding the buy and hold mentality so the CFA's and others can screw you
Andrew [11:07]: Yeah it's in so many people's interests to perpetuate 'buy and hold'
nester [11:07]: when they preach that you should buy in a down market, odds are it will continue down.
madriver [11:07]: yeah...sure is
Andrew [11:08]: I wonder if that whole rally in 2009 was partly just the big institutions wanting to save 'buy and hold' as a viable strategy
Andrew [11:08]: out another 1/5th FAZ +1.5%
Andrew [11:08]: out rest of JASO +2.5%
madriver [11:08]: I almost started a CFA program until I went to 2 interviews with 2 different financial service companies ...boy was I disappointed
LEECO [11:08]: Andrew-PCX went from 11.87-12.17-but I'm in it at $17.20 LOL
nester [11:08]: when they finally say, don't buy, buy long.
Andrew [11:09]: out 1/3rd RDN +1.1%
PA [11:09]: Leeco I think market should be up for a few days because people is more optimistic speculative stocks like NASDAQ out performing More conservative like DJIA again.
LEECO [11:10]: PA-hope so -I need to sell some bags to get my trading money back!!!
nester [11:10]: thinkin they will push this market up to just under 10k again in the next day or so. we should hit that level then fall again.
madriver [11:11]: FAZ is working now
Andrew [11:11]: out 1/4th BEXP +1.2%
PA [11:11]: It has been happenning this way, just my observation.
madriver [11:11]: Nester....you think we hold above 100 today?
nester [11:11]: yes...
Andrew [11:12]: added back to RDN short 7.18
Andrew [11:13]: back short JASO 5.44
LEECO [11:13]: If you believe the "Bear/Bull" belt buckle-nester is right-I am hopeful LOL meaning now Lots Of Luck
nester [11:13]: my guess is that we will have a decent green day today, they will sell it and we will then have about 3 more up days, +20 to +80. dow will be around 10k and S&P will hit 1050
madriver [11:14]: that bucking seems to lag big time......IMO
madriver [11:14]: buckle
Andrew [11:14]: added to JASO short 5.46
Andrew [11:14]: added to JASO short 5.45 (double position)
LEECO [11:15]: macd SV only updates every 5 minutes
ortrade [11:15]: Exit WBC no gain/loss
rw [11:15]: Leeco - be careful with bucy- I do not see what you see
LEECO [11:16]: rw-That's why I went option on BUCY limit my exposure-but HG is showing up for it
rw [11:17]: big fall on 13 minute chart today leeco
rw [11:17]: but bucy keeps making higher lows - so that is positive
LEECO [11:17]: rw-BUCY HG just went tru all 3 SMA's up
madriver [11:18]: Nester....I think we're around 45 today...IMO
rw [11:19]: i left two thousand dollars on table with PM (hit fingers with stapler)
LEECO [11:19]: rw-My charts shows 3 Stochastics -Slow; fast; full which do you use?
LEECO [11:20]: rw-better to leave it on the table than with the MM
Andrew [11:20]: out another 1/4th BEXP 1.75%
Andrew [11:21]: out rest of BEXP +2%
madriver [11:21]: i was wrong on bwen so far.....30% surely isn't normal
Andrew [11:22]: out another 1/5th FAZ +2%
nester [11:23]: PXP short 21.31
rw [11:23]: I use scottrade elite stochastics leeco - not sure what they put in slow , fast , rapid etc. LOL sorry
LEECO [11:24]: rw-I'm hungry-going down for brunch-can you answer my 11:19 question before I GO
ortrade [11:24]: trouble with straight shoots breakouts/breakdowns is not guessing reversal point correctly and premature exit can loose big..
rw [11:24]: BUCY long soon
madriver [11:25]: where's our buddy knight today.....market finally up and he is nowhere to be seen
LEECO [11:25]: OK I am using E-trade's and using the stoch on the option streaming chart & stock chart-tried full & now fast
rw [11:25]: scottrade has only one stochastic rsi
Andrew [11:26]: out 1/5th RDN +1.3%
Andrew [11:26]: out SPWRA +1.25%
madriver [11:27]: andrw...still in faz?
LEECO [11:27]: SV shows BUCY w/flags X up V up & M below
Andrew [11:27]: out another 1/5th FAZ +2.5%
Andrew [11:27]: almost all out now madriver
madriver [11:27]: I'm still there....
LEECO [11:28]: Going to eat back soon LOL
ortrade [11:28]: Exit SPLSS +36$p
madriver [11:28]: andrw...looks likke significant selling?
ortrade [11:28]: Exit PETM +74$p
Andrew [11:29]: After having a horrible first half hour being too early with JASO, today's turned into a great day.
madriver [11:30]: good for you....will you share your money??
rw [11:30]: bucy falling big
ortrade [11:30]: Exit FAZ +90$p
Andrew [11:30]: I share my trade ideas :)
rw [11:31]: in and out of BUCY for ..4%
madriver [11:32]: yeah...appreciate that....
madriver [11:33]: I'm out faz as of 2 minutes ago
Andrew [11:33]: One of these days I'm probably going to get hurt pretty badly going so aggressively short, but until that day happens I'll continue to give the bears the benefit of the doubt and try and take advantage of the high volatility.
rw [11:33]: market makers and traders run BUCY and PM up and down day after day
Andrew [11:35]: added back to FAZ 17.44
nester [11:35]: short FAZ 17.43
Andrew [11:35]: out half PCX tiny loss
Andrew [11:36]: added to FAZ 17.43
rw [11:38]: i wish "trap door" was more sensitive use .25% steps
Andrew [11:39]: I think then almost every move in a stock would show up (especially low-priced ones). Maybe 0.5% or 0.7% would work.
Andrew [11:39]: added back to PCX short 12.02
Andrew [11:40]: added back to RDN short 7.17
Hoecake [11:40]: Question for anyone out there, swing trade Long ORCL maybe 3 days? Any thoughts?
Andrew [11:40]: added to FAZ 17.49 (double position)
madriver [11:41]: nester and/or andrew....do you channels on your charts?
nester [11:41]: hoecake - risky... trending down. price is coming up to ride the 10ma down...
Andrew [11:41]: I don't unless I happen to draw trendlines that form a channel.
nester [11:41]: mad - i don't use them
Andrew [11:42]: I agree with nester hoecake - high risk of some people taking profits in that area
rw [11:42]: risky hokecake some will tak eprofits
rw [11:43]: risk reward is not good
Hoecake [11:43]: Thx guys
Hoecake [11:43]: Just curious because Stock Vision keeps putting it in my face...
Andrew [11:44]: I think you're better off finding a stock that was relatively strong the last couple months and wait for it to bounce a little, like VCLK or S
nester [11:44]: what are you seeing that makes you want to go long on it?
madriver [11:44]: bwen is setting up for a tank IMO
nester [11:45]: out PXP short +0.7%
madriver [11:45]: moved from upper to lower channel ...now seems to be consolidating on lower....
Andrew [11:46]: The pattern with ORCL might indicate a reversal, but the entry up here isn't too safe in terms of risk-reward like rw was saying. Perhaps buying on a low-volume pullback to the low 22.00s would be safer.
iswing64 [11:46]: Mad, what channel? keltner?
Andrew [11:46]: added to JASO short 5.42
Hoecake [11:47]: Thanks for the input...I am trying to improve my swing trading and OT i mean SV kept putting it in my face... its doing the same with HAL as well
nester [11:47]: he was talking about a three day swing trade. high risk to me
Andrew [11:47]: I'm not sure why you would plan a set number of days for the trade.
Andrew [11:48]: HAL looks like a decent short to me.
Andrew [11:49]: You could risk about 2% to get maybe 9%-10%
Hoecake [11:49]: Doing a Short on HAL?
nester [11:49]: Hoecake - look for something that will ride the overall market. swing trades need to go with the market and sector. since the prevailing trend is still down, riding a long swing has a bit higher risk
Andrew [11:50]: Yeah, something like shorting HAL near 26.70 with a stop above 27.20.
Andrew [11:51]: The volume in HAL above 26.50 today hasn't been all that good.
ortrade [11:51]: FAZ 200@17.55p
Andrew [11:52]: out 1/5th RDN +1.2%
turbo911 [11:52]: Anyone have a stock charting software they would suggest?
madriver [11:52]: FSII short paper
Andrew [11:52]: I like TD Ameritrade's Quotetracker
Andrew [11:53]: I learned about it from others here
turbo911 [11:53]: thx Andrew
rw [11:53]: I see little movement on BUCY ANDREW -= would look at BUCY please??
madriver [11:53]: turbo....TOS ...don't like it but use it for now.
rw [11:53]: bigcharts is good and free most here use a service like scottrade e trade etc schwab etc
Andrew [11:53]: I don't think BUCY's going to bounce much yet.
rw [11:54]: thanks for the answer andrew- that was my thoughts also - wanted to confirm it.
Andrew [11:54]: The volume near 50.50 was weak, suggesting continued selling.
rw [11:54]: schwab is another one holding now
nester [11:54]: turbo - i use Quote tracker also. very good
Andrew [11:55]: I think some others here use Thinkorswim's software as well
rw [11:55]: Welcome Turbo911. Gar has a seminar July 6 - you mnight want to look into it.....
rw [11:55]: gar also has book that is twenty dollars - well worth the money.
rw [11:56]: Not sure about SEED........
turbo911 [11:56]: Thx all! Can't make seminar. What is his book titled?
jim [11:56]: Today is the 6th the seminar is tonight
Andrew [11:56]: BUCY actually seems to be following the market right now so if there's a market-wide bounce BUCY should participate too.
ortrade [11:56]: EExit CCE +11$p
nester [11:56]: you can get it on the Tutorials tab
Andrew [11:56]: It's called "Low-stakes Power Trading"
turbo911 [11:57]: thx
rw [11:57]: turbo i have been here for years - and learned thru those years ---the book tells all --------i wish i woulda had book two years ago....
rw [11:58]: the dog SEED could go up soon
Andrew [11:58]: SEED looks like it might want to dip below 7.00 to take out some stops.
Andrew [11:59]: added to JASO short 5.47 (can't remember if I posted this already)
turbo911 [12:00]: I've been pretty reckless the last few years and have decided to try and improve my chances by getting more "technical".
Andrew [12:00]: That's really good. The book also has some good risk-management rules.
iswing64 [12:01]: Turbo..BestFreeStockcharts.com is a good one for free..quick easy sign up..and a lot of features for a freebie.
ortrade [12:01]: Exit FAZ -33$p
turbo911 [12:01]: My stock picking has generally been good but I'm TERRIBLE on the sell side. Get too greedy and end up holding the bag many times.
iswing64 [12:02]: real time streaming charts too
Andrew [12:02]: added back to RDN short 7.23
turbo911 [12:02]: thx
rw [12:02]: I wish i could stretch elite over two screens - just can not do it.
rw [12:03]: turbo have a plan cut at a percent and sell at a percentage take emotion out of trade
Andrew [12:03]: added to PCX short 12.06
moby [12:03]: woohooo, I can hardly wait for this Options Webinar tonight =)
turbo911 [12:05]: rw: That is one of the things I've learned through watching those of you on SV since I joined a few weeks ago. You guys are like machines!!!!! Incredible.
rw [12:06]: Thanks Turbo: First find you a good set up to trade. second trade same money value each time third stop loss and profit goal .....maake all same....also if trade goes bad get out........
Andrew [12:06]: When the volume and volatility are high in the market there is a lot more reward (and risk), so if you can balance them favorably it is good to trade a lot.
Andrew [12:07]: In less volatile markets or low volume markets you don't want to trade as much usually unless there's an individual stock with a big news event getting a lot of volume.
Andrew [12:08]: added to FAZ 17.32
iswing64 [12:10]: I think faz is done as far as a serious move up..least for a few days i hope..lol
Andrew [12:10]: short ATPG 9.80 (double position), been watching that one since it came through on Traps a while ago
rw [12:11]: iswing faz should come DOWN big time -----just a matter of when......no reason for these markets to be upppppp
Andrew [12:12]: added to ATPG short 9.79
rw [12:12]: andrew i think atpg shoud be a long play
Andrew [12:13]: It's showing a lot of weakness today rw and failed to get back above the bear where the Trap door triggered
Andrew [12:13]: bear = bar
Andrew [12:14]: The dow is up +130 and most oil companies are up as well yet ATPG is down -2.5%
turbo911 [12:15]: I'm old school buy, hold and diversify after doing my due diligence. As a result I've got a portfolio of about 20 stocks and I'm underwater so far this year. Time to change my approach as I now have more time to spend watching/evaluating. Do any of you hold any significant portion of your portfolio for the long term +1 year? Do any of you hold long and short positions on the same stock?
Andrew [12:15]: The daily doesn't look all that good either, though there might be some strong buying in the 9.60-9.90 range.
Andrew [12:16]: I have some super-long term investments, but I began diversifying into active trading last year.
turbo911 [12:17]: Andrew is 1 year super-long for you?
Andrew [12:17]: More like 10 years
Andrew [12:18]: I think instead of shorting the same stock which your must like enough to be holding it, it might be better to diversify just by buying a little SDS when the market starts selling off.
turbo911 [12:18]: SDS?
Andrew [12:19]: It's an etf that moves about 2x inverse to the S&P 500.
jim [12:19]: Turbo I tend to hold long term about 1-2months and normally sell at above 1% gain
Andrew [12:19]: It's frequently used to hedge.
lindo [12:19]: You could consider buying puts as insurance too turbo
Andrew [12:19]: Be sure to read the prospectus though to make sure it's okay to hold it some what long-term without much decay.
Andrew [12:21]: The market got pretty sloppy the last hour.
Andrew [12:22]: added to ATPG short 9.78
madriver [12:23]: BWEN...out 3.18% easy money LOL
Andrew [12:23]: Nice one
rw [12:24]: Turbo: On my Long term stuff I balance it with a lot of DXD which is two times dow short. I made 12% april 2009 thru april 2010.........For past three months I am even - actually made $3,00 but made my inv manager $2,000 for quarter
rw [12:24]: paid my inv manager not made
rw [12:24]: i also have a lot of jUNK bond funds - that helpoed me greatly last year ---and still have them....
Andrew [12:25]: DXD is another good one to hedge if your holdings are closer to the dow than the S&P
turbo911 [12:25]: Got it! All these ETF's are fairly new to me. But I did OK last week through today with FAZ and FAS which I learned about through all of you. I held FAS over the weekend which doesn't seem to be too smart but I lucked out and sold this a.m.
Andrew [12:25]: or qid if your holding are closer to the nasdaq
Andrew [12:26]: The 3x etfs like FAS/FAZ are bad to hold overnight for any long period of time since they decay a lot naturally over time. They are meant primarily to trade intraday.
Andrew [12:26]: Holding overnight long-term only pays off in them if there is a clear and consistent trend going on.
Andrew [12:27]: out 1/5th RDN +1.4%, out 1/3rd FAZ +1.5%
nester [12:27]: stopped out FAZ -1%
Andrew [12:28]: out 1/5th PCX +1.2%
nester [12:28]: stopped out ERX -1.2%
Andrew [12:29]: out rest of PCX +1%
nester [12:30]: short NG 6.22
turbo911 [12:31]: That makes sense. As I learn more about these agressive ETF's it is apparent that volatility is your friend and explains some of these wild daily swings. It seems there very purpose is to be day traded. Is that accurate?
Andrew [12:31]: Yes definitely.
nester [12:32]: turbo - they are a different animal. make sure you papertrade them until you get a handle on them
rko [12:32]: They are meant to be daytraded. They rebalance at close, so if you hold them long, you will give up gains overnight.
Andrew [12:32]: If the overall market volatility is low those leveraged ETFs can be a lot more difficult too unless you time your entries carefully and look for quick profits (buy at support and scalp out most of your position near resistance).
Andrew [12:33]: When the overall market volatility is high though you can hold the leveraged ETFs for longer periods of time since your winning trades in them can potentially be huge.
Andrew [12:34]: Your losing trades in them though can also be huge (volatility cuts both ways) so be sure to still have smart stops in place.
Andrew [12:34]: out rest of RDN +1.6%
Andrew [12:35]: out 1/4th ATPG +1%
nester [12:37]: kotarah - SOMX is under again. can't figure that one out.
Andrew [12:37]: Oops, forgot to watch KERX for an entry short again today.
madriver [12:39]: Kerx...that is an ugly chart?
rw [12:39]: BUCY again soon long
turbo911 [12:39]: rko: I saw that "rebalance" at close on here last week. What exactly does that mean?
Andrew [12:40]: KERX was a much easier short today compared to the last couple of days when I've been largely too early. When the market was breaking out to highs today KERX was going to lows.
madriver [12:40]: you had to be there earlier....looks like it might move lower
jim [12:40]: SPAR a watcher
Andrew [12:41]: I think I'll stay away unless I can catch an entry in the high 3.40s.
madriver [12:42]: jim....what is Spartan Motors ...do you know?
Andrew [12:42]: I'd still like this JASO short to wind up working out since my big win on JASO today doesn't leave me with much profit after subtracting my big loss on JASO this morning.
Andrew [12:42]: out another 1/5th FAZ +2.6%
jim [12:43]: Yes SPAR makes fire and rescue equipment chassis's as well as high motorhome chassis
turbo911 [12:43]: I use Scottrade and got a message about "free rides". How do you get around that?
rko [12:43]: turno911--it means that they close positions to collect their fees.
Andrew [12:43]: that's 1/4th of remaining FAZ actually
jim [12:43]: L SPAR 3.78
nester [12:43]: short LTD 22.79
Andrew [12:43]: out another 1/4th FAZ +2.5%
Andrew [12:44]: out 1/3rd JASO +1.5%
Andrew [12:45]: There's a lot of previously strong stuff at lows now.
rw [12:45]: gee - buyers sure quit buying..........LOL
turbo911 [12:45]: rko: so they gap up or down at each open?
jim [12:45]: like I said smelled like a suckers rally
rw [12:45]: do not know turbo
Andrew [12:46]: turbo, it means you bought more stock than you had money in your account.
Andrew [12:46]: Do you have a margin account?
turbo911 [12:46]: rko: so they gap up or down each open?
turbo911 [12:46]: yes
madriver [12:47]: andrw...do you trade a margin acct?
rko [12:47]: turbo911--I've been watching them. They do gap.
turbo911 [12:47]: I have plenty of cash that is what was confusing.
rko [12:47]: If you watch both FAS and FAZ, sometimes they are both negative at the same time
Andrew [12:47]: Yeah I definitely use a lot of leverage.
madriver [12:48]: nester...do you trade using a margin acct?
Andrew [12:48]: I tend to lose a lot less when the VIX is lower.
Andrew [12:48]: lose = use
Andrew [12:49]: But in type of volatility we've had since May I've been going full strength.
turbo911 [12:49]: This is the message I got: Remaining roundtrips
to PDT threshold: 2
nester [12:49]: yes... margin account allows you to get your balance back into play quicker. you don't have to use the margin, just have it available
rw [12:49]: ANDREW: Is your chart size seven inches both ways please
nester [12:50]: turbo - you have more than 25k in there?
turbo911 [12:50]: yes
madriver [12:50]: doesn't sound like it
Andrew [12:50]: about 7.5" by 4.5" - only seeing the last 3 hrs or so
madriver [12:50]: hmmm
nester [12:50]: no worries...
Andrew [12:50]: on the 5-minute chart
rw [12:50]: thanks Andrew:
madriver [12:50]: how much do you have..LOL
Andrew [12:50]: I also have a small 2-day 5-minute chart up to see the bigger picture
nester [12:50]: they just letting you know that you have a pattern day trade account at a certain point
lindo [12:51]: might be a warning about day trading turbo. I get those sometimes
madriver [12:51]: might want to call them...your broker
Andrew [12:51]: 5.5" by 2.5"
Andrew [12:51]: out another 1/4th ATPG +2.4%
Andrew [12:52]: out another 1/4th FAZ +2.9%
rw [12:52]: thanks andrew - very helpful.......I need to get more exact on things I do.,...
madriver [12:52]: andrew....doing webinar tonite?
rw [12:52]: BUCY watcher
turbo911 [12:52]: I will call them. They use local offices and seem to hire young inexperienced kids who don't know too much.
Andrew [12:52]: I actually can't make it tonight (have a date), but I'm looking forward to buying the archived copy.
rw [12:52]: BUCY will pay big.......
rko [12:52]: If you cross the PDT threshold, you'll be required to maintain a minimum of 25k to keep trading on margin.
madriver [12:53]: have a date....good luck!!! 1st date?
Andrew [12:53]: Thanks, 2nd
nester [12:53]: not on margin... need to keep 25k to maintain the daytrading status
Andrew [12:54]: out rest of FAZ +3.1%
Andrew [12:54]: long FAS 18.56
madriver [12:54]: well you should atleast make it to 2nd base tonight then........lol
Andrew [12:54]: out rest of ATPG +2.2%
Andrew [12:54]: rofl
madriver [12:54]: living vicarously through andrew......married for 10 years
Andrew [12:55]: I'm finally in buy-mode for the first time today.
Andrew [12:55]: added to FAS 18.51
Andrew [12:57]: added to FAS 18.48
madriver [12:58]: where is everyone.....seems quite today for some reason
Andrew [12:58]: Some people are probably still on vacation. They mentioned that on Bloomberg just now too.
Andrew [12:59]: added to FAS 18.51
Andrew [13:00]: added to FAS 18.54 (double position)
ortrade [13:01]: FAZ 200s@17.91p
Andrew [13:01]: Apparently some of this selling might be because the 50-day moving avg. crossed below the 200-day moving avg.
ortrade [13:03]: financials moved from strongest morning sector to mid-bottom.
moby [13:05]: lots of people all week off for July 4th
moby [13:05]: Gar [20:56 (USA)]: 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
moby [13:05]: today's the day : )
turbo911 [13:07]: Got my answer. Scottrade sends that message regardless of your money balance. The minimum is $25k and they start counting for real if you fall below. Seems like a poor way to do it but I'm good to go!
Andrew [13:08]: If you like Quotetracker turbo911, you can switch over to TD Ameritrade and pay just $5/trade for a year if you use this link... http://www.tdameritrade.com/offer/quotetracker.html?a=PFD
turbo911 [13:10]: Andrew: thanks. Unfortunately I just consolidated all my accounts into one at Scottrade. I had accounts with TD, Etrade and Scottrade. Scottrade opened an office close to me so I chose them. Should have asked questions before consolidating.
rw [13:11]: turbo scottrade elite is great.......takes a lot of time to look at it but it is really good
turbo911 [13:12]: I was jumping around too many screens and was getting things confused.
Andrew [13:12]: Scottrade elite was a little buggy/slow when I tested it, but I tested it in Feb./Mar. 2009 when there was enormous volume in the market due to being near the bottom, so that might not be a fair sample size.
Andrew [13:13]: They did have an annoying restriction on how tight stops you can use though.
turbo911 [13:13]: rw: That is what I'm using ScottradeELITE. Just learned how to use there "trade idea" option this weekend.
rw [13:13]: look in "studies" make you up a lot of charts etc
rw [13:14]: our site is great for trade ideas also......
turbo911 [13:14]: and it seems somewhat similar to what GAR has programmed
Andrew [13:15]: I tested Trade Ideas before too and had pretty bad results. The stocks I find here tend to work a whole lot better.
turbo911 [13:15]: Yes I believe it is $0.10 as I just learned this a.m.
ortrade [13:16]: Exit FAZ short -24$p
Andrew [13:16]: That's normally okay, but if you are day trading stocks below $10.00 or so, that $0.10 can really be annoying.
Andrew [13:18]: out half FAS -0.6%
turbo911 [13:18]: never used stop orders in the past as I hated getting stopped out and that is letting emotion into the equation. I have started using them to get more mechanical.
Andrew [13:19]: back short ATPG 9.51 (double position)
Andrew [13:19]: added back to FAS 18.42
turbo911 [13:20]: Always played "what if" mind games and felt like a loser if I didn't hit the high or low. I'm as risk averse as you can get but recognize I need much more discipline when "trading".
Andrew [13:20]: added to FAS 18.44 (double position)
kotarah [13:21]: BUY 10000 CYCC @ $1.57
Andrew [13:21]: I'm naturally that way too, but have learned to try and just capture the middle 60% of the moves and only aim for tops and bottoms if I'm scaling in gradually.
Andrew [13:22]: added to ATPG short 9.55
PA [13:25]: Order to buy ERX 200*23.76
turbo911 [13:26]: Andrew: I tend to focus on minimum daily volume numbers of 500k - 1M or more to stay liquid. In your experience am i limiting myself?
Andrew [13:26]: I do that too turbo except even more so usually. 1M is normally my minimum volume in all my screens here.
LEECO [13:27]: Back from my 2 boiled eggs &slice of rye toast
turbo911 [13:27]: thanks
Andrew [13:27]: added to ATPG short 9.48
PA [13:27]: Good bye, see you all tomorrow
Andrew [13:28]: out 1/4th remaining JASO +1.25%
nester [13:28]: c'ya PA
LEECO [13:28]: BUCY down to 49,04 with no indicators pointing up
Andrew [13:28]: Bye PA
Andrew [13:29]: Somewhere near 49.00 is probably a pretty safe entry today with a tight stop.
ortrade [13:29]: FAZ 200s@17.95p
Andrew [13:32]: out half FAS tiny gain
Andrew [13:33]: added back to FAS 18.52 (double position)
Andrew [13:36]: added to FAS 18.44
rw [13:37]: I agree on BUCY Andrew
Andrew [13:40]: out another 1/4th JASO +2%
LEECO [13:41]: BUCY now 48.79 with HG pointing down??
Andrew [13:41]: out FAS -0.7%
ortrade [13:41]: Exit FAZ -39$p
Andrew [13:42]: That's what I get for finally trying a long
ortrade [13:42]: FAZ 200@18.15$p
Andrew [13:42]: out rest of JASO +2.5%
Andrew [13:43]: That's pretty wild that we are getting close to giving back an entire +150 day.
nester [13:43]: http://www.youtube.com/watch?v=xOr5suFJ6-k&feature=player_embedded#!
Andrew [13:43]: back in FAS 18.29
Andrew [13:44]: added to FAS 18.24
Andrew [13:45]: added to FAS 18.25
Andrew [13:47]: added to FAS 18.17
Andrew [13:47]: added to FAS 18.21 (double position)
Andrew [13:51]: out ATPG tiny gain
lindo [13:52]: Nester I watched it. Scary. How could they track down who did it though?
nester [13:53]: lindo - orders have to be tracked. should have a record of it
lindo [13:54]: Government should be on it. But if the order never gets executed like he's saying, would they still have a record of whos doing the fakeouts?
Andrew [13:55]: added to FAS 18.09
nester [13:55]: i believe so. not positive though. once an order is placed, there is a record of it. i know when i cancel an order, it remains on my screen the entire day
Andrew [13:55]: added to FAS 18.12
lindo [13:55]: not so for me in TOS. That looked like the screen he was showing too
nester [13:55]: did Quotetracker quit?
lindo [13:56]: QT working for me.
JayBird [13:56]: I'm having problems placing order with QT/TDA
nester [13:57]: finally started back up... missing a few 5 min bars
Andrew [13:59]: added to FAS 18.10 (double position)
madriver [14:00]: boy we've gone further south than I anticipated...still think 50ish
Andrew [14:01]: out half FAS tiny gain
nester [14:01]: lol mad - i was just thinkin that myself. called this day way wrong
Andrew [14:01]: I was right but could have held on to my shorts for a ton longer in retrospect.
madriver [14:01]: should of stayed in FAZ....oh well
nester [14:02]: me too... it dipped and stopped me out
Andrew [14:02]: It's hard not to leave a ton on the table in this market when the volume is so low.
Andrew [14:03]: I tend to be pretty skeptical of mid-day moves in general.
madriver [14:04]: I think volume as everyone knows is light but super light this week
Andrew [14:05]: This market can be tricky. When things look their best often that's right near the top (e.g. Hoecake considering buying ORCL near 22.60).
madriver [14:06]: Be nice to be out in Hamptons or outer banks sipping a martini in this nice weather.
Andrew [14:06]: It's way too hot out (near 100 degrees in Boston & New York).
LEECO [14:07]: I feel starcrossed-lately every time I buy long the stock goes down-perhaps I should only short
madriver [14:07]: come on Andrew......are you going to run from air conditioning to air conditioning tonite. I love this weather!!!
Andrew [14:08]: The problem Leeco is that the big money seems to be selling all the bounces so strength in stocks fades fast.
Andrew [14:08]: added back to FAS 18.03
LEECO [14:08]: macd-if you didn't find HEBrew beer perhaps you should try Tnqueray 10 in your Martini-Smooooth. And Canadian Hunter for Smooooth sipping whiskey
Andrew [14:10]: added to FAS 18.02
madriver [14:10]: LEECO...I will try that one...sounds good!!!
Andrew [14:10]: added to FAS 18.04
madriver [14:10]: LEECO---do you like Rum?
nester [14:12]: wow... we are red
Andrew [14:12]: added to FAS 17.95 (double position)
madriver [14:12]: if so try Petrons Pyrat Rum...good stuff. I sound like an alcoholic in here
JayBird [14:12]: I like rum
madriver [14:12]: Patron
iswing64 [14:12]: wow wrong on faz today
LEECO [14:12]: macd-yes but I like dark rum
madriver [14:12]: Jaybird....have you tried Pyrat?
LEECO [14:13]: Is Pyrata black rum, or Golden or White?
Andrew [14:13]: out half FAS -1%
nester [14:13]: swing - thinkin of those 3 we talked about yesterday?
madriver [14:13]: lswing....should of stuck with that FAZ trade............
iswing64 [14:13]: Yes to both of you
JayBird [14:14]: But haven't had any for years. Will consider Pyrat should an occasion arise.
Andrew [14:14]: added back to FAS 17.87
madriver [14:14]: pyrat XO reserve.....wouldn't steer you wrong however it is expensive
nester [14:14]: i got in LTD earlier. couldn't talk myself into the others at that time. now they are looking good short
iswing64 [14:14]: Did you buy any of those expe puts?
nester [14:15]: not yet
Andrew [14:15]: added to FAS 17.90 (double position)
LEECO [14:15]: macd-
ortrade [14:16]: EXIT FAZ +80$p
Andrew [14:16]: added to FAS 17.95 (double position)
madriver [14:16]: I'm upset I didn't stick with faz.....we're in a downtrend...should of know better
nester [14:16]: that chart hasn't convinced me on direction yet
Andrew [14:17]: It's pretty rare not to have a decent reversal by now.
LEECO [14:17]: I usually have 1 cocktail at 17:30 maybe 2 and that's all-so I feel like I want the best! Oh Martini's Dorothy Parker's verse Do you Know It?
madriver [14:17]: so are you saying we stay close to flat andrew?
madriver [14:18]: Leeco....no but I'll look it up
Andrew [14:18]: I'm not really sure. I just think there are more buyers out there at these levels than there appeared to be mid-day.
Andrew [14:19]: The sellers were getting extremely aggressive though.
Andrew [14:19]: A lot of longs might have been trapped buying into the large gap up this morning.
rw [14:19]: Looks like we will close up about 30 on the dow....sp up a little
madriver [14:19]: I think when you take away alot of the institutional buyers like today you gotta believe retail buyers are long...opinion
Andrew [14:20]: I think retail people are always long.
LEECO [14:20]: I"ll quote it she sais "I lile a Martini-two at the most" 'Because with three I'm under the table" 'And with four I'm under the host"
Andrew [14:20]: Since a lot of retail people don't short sell.
madriver [14:20]: that's what I was implying
LEECO [14:21]: I like a martini
JayBird [14:22]: funny....Leeco
ortrade [14:22]: Interesting chart patterns on FAZ 5min today..
Andrew [14:23]: The financials are mostly just being sold on every bounce up to the 10-period moving avg.
madriver [14:24]: Leeco....wow Leeco that is risque!!!
LEECO [14:25]: Blame Dorothy Parker- I just Quoted LOL
nester [14:25]: out LTD short +1%
JayBird [14:25]: Mad....isn't Leeco on the ground losing a fight? LOL
ortrade [14:26]: After multiple failures to short FAZ, FAZ sellers should be sufficiently discouranged by now..
LEECO [14:26]: For a day that started with Futures uo +100 it has certainly turned sour
madriver [14:26]: lol
Andrew [14:26]: At one point the dow was up +150 I think
iswing64 [14:26]: Hope i im not making it worse but bought 18 puts on faz for 1.05
Andrew [14:26]: out half FAS +1%
Andrew [14:27]: I'm still playing catchup with FAS but beginning to look better
nester [14:27]: short FAZ 18.27
Andrew [14:29]: I need FAS to stay in the 18.20s or so in order to get back profitable in it.
madriver [14:31]: these charts are horrendous but I'll take AMEL over PEIX anyday. Where in the heck is Knight...sitting on private beach near his million dollar mansion
Andrew [14:33]: I should have done that HAL short I mentioned. It would be +2.5% profitable already by now.
nester [14:34]: http://www.youtube.com/watch?v=8tahZ8lL35Y&feature=player_embedded#!
madriver [14:35]: BP is doing well today!
madriver [14:36]: nester.....that guy is disturbing.....I think I could do a better job.....
nester [14:36]: lol... just info
madriver [14:37]: jagging you...I hope you know
nester [14:37]: i know. got thick skin
Andrew [14:37]: out 1/5th remaining FAS +1.4%
Hoecake [14:37]: ok I am back, glad I listened to you guys and not what SV was telling me...
Andrew [14:38]: StockVision was telling me to stay short
turbo911 [14:38]: Anyone. If you could use only one (1) chart indicator to make trades in:
turbo911 [14:38]: (A) up market, (B) down market, (C) any market, what would they be?
madriver [14:38]: Wilder Legacy....I like it alot but not only indicator
madriver [14:39]: most indicators don't care about up or down markets....am I right?
nester [14:39]: macd w/histogram
Hoecake [14:39]: Time to look fo anything that deserves a put....
Andrew [14:39]: Probably trend lines or moving averages as rough areas rather than signals.
madriver [14:39]: if you have the overall trend in mind
Hoecake [14:39]: I agree with nester
Andrew [14:40]: Volume is always nice to have as well
madriver [14:40]: i definately agree with neste
Hoecake [14:40]: Does anyone use stockfetcher?
ortrade [14:40]: I agree with the market.. it agrees with me sometimes.. lol
Andrew [14:40]: I think karen does. She doesn't seem to be here today.
madriver [14:40]: i did but don't anymore
turbo911 [14:40]: OK, only one in any market condition.
Andrew [14:41]: out another 1/5th FAS +1.5%
madriver [14:41]: turbo...why would you do that if you can use more than one?
Andrew [14:41]: I'd have to go with moving averages in all market conditions.
ortrade [14:41]: turbo in that case all cash will be in your pocket and we all be beggin for pennies..
madriver [14:42]: one....moving averages has to be the answer
lindo [14:42]: markets seem to be turning up last few mninutes
turbo911 [14:42]: Just to make it easier and force to choose just one.
madriver [14:43]: don't do that...
Andrew [14:43]: out another 1/5th FAS +1%
madriver [14:43]: bad idea using one
nester [14:43]: just one would still be the macd w/histogram in all markets for me...
Andrew [14:43]: Yeah, be sure to also look at volume.
turbo911 [14:43]: I can easily see how this would become info overload.
Andrew [14:44]: I'm not sure if you consider that an indicator or not.
Hoecake [14:44]: WOW I have a filter on stock fetcher that is pulling 80% winning trades for last month...
Hoecake [14:44]: never saw one that high
Andrew [14:44]: What type of a filter?
madriver [14:44]: what constitutes a winning trade....stock up .01 cent
ortrade [14:45]: FAZ 200@18.3$P
Hoecake [14:45]: Stocks that close below ascending triangle...
Andrew [14:45]: added back to FAS 18.13
madriver [14:45]: turbo......if you are new Nester can provide some good advise on setup. I'm not volunteering Nester but he set me on a better path
madriver [14:46]: although I don't use MACD unless looking at SV
turbo911 [14:48]: When these back-testing softwares ask for an exit time, say 30 minutes, I assume that it analyzes the trades based on selling them 30 minutes after signal is sent. Correct?
nester [14:48]: man i hate this day... stopped out FAZ -0.8%
rw [14:49]: I am not sure turbo...
madriver [14:50]: somebody have answer for turbo....I don't
Andrew [14:50]: Using a time-based stop doesn't make much sense to me but that sounds right.
Andrew [14:50]: That seems like something for hypothetical world rather than real world.
Hoecake [14:50]:
Andrew [14:50]: added to FAS 18.09
rw [14:51]: Hoecake --might investigate selling calls - as 80% of options expire worthless
madriver [14:51]: first time I've heard of a time based stop.....how could that possibly make sense
Andrew [14:51]: added to FAS 18.14
rw [14:51]: I sell puts when the market is stable and or going up.....
rw [14:51]: they pay you in advance -----for the option
Hoecake [14:51]: RW I do not have enough in my account to allow selling naked puts
Hoecake [14:51]: once I do, you better believe I will
Andrew [14:53]: madriver, looks like you were right about perhaps just shorting KERX near 3.40. It is now down over 2%.
Hoecake [14:53]: RW who do you sell options through? OptionsXpress?
rw [14:54]: sounds good Hoecake
rw [14:54]: Yes
Andrew [14:54]: out 1/5th FAS +1%
rw [14:54]: you need to protect your self on naked puts I say sell them and then protect a thousand dollars down - to avoid catastrophic loss
turbo911 [14:55]: rw: you mentioned you made your inv manager $2k for the quarter. Do you work for someone?
nester [14:55]: ERX long 23.73
rw [14:56]: No I pay to have money managed - I am a poor long term investor.
turbo911 [14:56]: rw: you mentioned you made $2k for your inv manager last quarter. Does that mean you trade with someone else's $?
Andrew [14:56]: I'm finally in the driver's seat with FAS as long as it stays above 18.07 or so it should wind out being a good one.
madriver [14:57]: the reason he is poor is because he's listened to Knight too many times
turbo911 [14:57]: sorry for duplicate I had suspend on.
rw [14:57]: no I was down two thousand I paid him and made 3 dollars but felt I did ok...net loss was over two thousand for quarter.....
nester [14:57]: glad your doing well today Andrew. i'm dieing today...
Andrew [14:58]: My only bad trade was my first one of the day shorting JASO too early. I should have been a little more patient.
LEECO [14:58]: DOW is moving up -don't know whether it will get up enuf for my BUCY calls by closing-may have to hold them over.
Andrew [14:58]: I'm sure I'll get destroyed one day this week though.
nester [14:58]: my only bad trade was turning on my computer... i'm like 1 of 6
turbo911 [14:58]: rw: OK thanks, i get it.
Andrew [14:59]: Today's gone by extremely quickly.
LEECO [14:59]: DOW backed down-BOO to lack of trend
Andrew [14:59]: added to FAS 18.00
nester [14:59]: out ERX -0.8% i'm done. can't see anything correctly today
nester [15:00]: wow... large red tick
rw [15:01]: i watch the tick religiously -----gar says there are better momentium indicators but I do like the tick ----any comments on that..
LEECO [15:02]: I get the feeling that I should float in the pool-until fall then come back to the market
madriver [15:02]: be careful!!!
Andrew [15:02]: I watch it a lot rw, but I haven't really found a concrete use for it. TC uses it somewhat as a contrarian indicator if it gets way too big - might be time to take your profits.
Willie2 [15:03]: rw what tick is it you watch ?? thanks
Andrew [15:03]: There are often very large ticks at tops and bottoms.
nester [15:03]: don't watch it that much. more of a key reversal times kinda thing for me
rw [15:04]: nyse tick on stockvision
ortrade [15:04]: read few pages yesterday from "Little Prince" .. good book..
Andrew [15:04]: added to FAS 18.00
nester [15:05]: Willie - it is just under the A/D ratio
rw [15:05]: i hate to be long when the tick is as high red as it is today...
LEECO [15:05]: tick is big now -996\
Willie2 [15:06]: Got it thought you guy had some special chart you were lookoing at LOL
Andrew [15:06]: added to FAS 17.85
Andrew [15:07]: added to FAS 17.87
ortrade [15:07]: Exit FAZ +72$p
iswing64 [15:08]: faz could run to the close but i haven't been right all day..lol
nester [15:09]: swing - sounds like i'm trading off your charts also... man i did bad today
iswing64 [15:09]: It happens to all of us..
moby [15:10]: Gar [20:56 (USA)]: 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
Andrew [15:10]: out half FAS -0.19%
LEECO [15:10]: The futures & green opening fooled me so I went long option on BUKY when I should have gone with a Bear ETF option
Andrew [15:11]: added to FAS 17.87
Andrew [15:12]: added to FAS 17.85
Hoecake [15:13]: Ok so still on search for a swing, I am now thinking buy some Puts on BAC,
rw [15:14]: i went long also on bucy leeco i am down to.......1,,000 shares 49.10 average - but bucy should be ok.
nester [15:15]: hoecake - here are a few puts to look at LTD PXP and EXPE i'm watchin for a swing put option on these
Hoecake [15:15]: I was watching EXPE at well, but I am trying to stick with Gars option list.. I will check out PXP and LTD as well
Andrew [15:17]: What a choppy mess.
Hoecake [15:17]: I think I might just side line for today, and wake up with open tomorrow and try to catch the 10 flip if it happen
Andrew [15:18]: out 1/3rd FAS tiny gain
Andrew [15:19]: added to FAS 17.90
Andrew [15:21]: added to FAS 17.82
Andrew [15:23]: out FAS -0.6%
madriver [15:23]: andrew...what time is your date?
Andrew [15:24]: I think I'm all done for the day.
Andrew [15:24]: 7:00 pm
Gar [15:24]: How's everyone doing? Doesn't surprise me that they sold into this rally. We won't hit a bottom until there is more capitulation.
Andrew [15:25]: Why was it so high to begin with today?
Gar [15:25]: I think Europe. All the European markets ramped into outer space.
Andrew [15:26]: Buying into large gap ups hasn't worked well the last couple of months.
Gar [15:27]: That's because you have to wait on those. I have noticed these gap ups keep ramping higher, or sideways, for an hour or two before they roll over.
madriver [15:28]: who has patience for that!!!
Gar [15:28]: Today was a good lesson, in a way. When I got up and saw the Dow sky high, I knew it was untradable. Either you would need to wait for a rollover and go short, or wait for deep pullbacks to play bouncers. Gapping up markets are the WORST possible to trade.
Andrew [15:28]: I just got a little too impatient on FAS and exited near the lows it looks like.
Andrew [15:29]: Sometimes it seems like you need to use either ridiculously tight stops or ridiculously loose stops.
Gar [15:29]: Maybe it's just me, but I find gapping up markets to be mostly untradable.
Hoecake [15:29]: Gar, question, when reading your book, the first strategy is the Histogram one. Now with this market being bearish, would you use the same princple but choose MACD curve down?
Hoecake [15:30]: This way you are not fighting the overall trend of the market
Gar [15:30]: Hoecake, sure. What I generally do is go with the market direction. Most stocks follow the market's lead. That's rule #1.
Gar [15:30]: You can get away with bucking the market trend, but ONLY for really fast trades. Like less than a day.
Gar [15:31]: For multiday trades, it is generally suicide to go against the market trend.
Hoecake [15:31]: And I am assuming that curve is a curve but crossover is actually macd crossing zero ?
Gar [15:31]: This kind of stuff will be covered in tonight's webinar. Speaking of which, there are only 3 open "seats" left, if anyone wanted in.
Hoecake [15:32]: I do, but cant afford it this week, I will have to catch the next one...
Hoecake [15:32]: No room on any cards either :( lol
moby [15:32]: www.garsworld.com/webinar.htm
madriver [15:32]: Gar....can you believe andrew is go on a date instead of attending the webinar....unbelievable!!!
Gar [15:32]: The "curve" is really the MACD histogram changing direction. The crossover is a crossover, which is different.
Gar [15:32]: That is unbelievable madriver. Such priorities....
nester [15:33]: who goes on tuesday dates ?
madriver [15:33]: what's up with that???
madriver [15:33]: I think he has a date with Karen!!!
Andrew [15:34]: lol
Gar [15:34]: Here's the thing. This market won't hit a bottom until these dip buyers throw in the towel. The reason we keep grinding lower is because there are still diehard bulls. They have to get taken out once and for all if we want a sustained rally. As backwards as that seems.
madriver [15:34]: OMG
LEECO [15:34]: I would if I were70n years younger
Hoecake [15:34]: MACD curve with your option list is only showing 1 listed...I guess that means today is not the day for that strategy
Andrew [15:34]: Most people don't even go on dates at all anymore.
madriver [15:34]: what do they do....facebook....that's what I hear?
madriver [15:34]: you have to go on a date eventually
Gar [15:34]: Hoecake, I noticed this morning the options list is not showing up on almost any screen. Which is a red flag that this isn't a good day to trade.
madriver [15:35]: you at least have to consumate the relationship however temporary it might be right?
Gar [15:35]: What you would do today, if anything, is play quick bouncers. Very fast trades, nothing held very long. That's all you can do in a chop fest like this.
Andrew [15:35]: Most young people just hook up with random people at parties...
Gar [15:36]: For me, the webinar "is" my date.
madriver [15:36]: really.....I did not know that
nester [15:36]: i got murdered trading today... waiting for the rollover then they stopped me out
Hoecake [15:36]:
Hoecake [15:37]: Divorce does have some plus'es
madriver [15:37]: hoecake....how old are you?
Andrew [15:37]: http://www.npr.org/templates/story/story.php?storyId=105008712
kotarah [15:37]: NESTER NEXMD
Hoecake [15:37]: 27
nester [15:37]: k
Gar [15:37]: nester, sorry to here that. One of the hardest lessons is to realize that some days are simply not tradable. Today is a good candidate.
Gar [15:37]: hear (not here)
madriver [15:37]: wow......did you score hoecake?
madriver [15:37]: lol
Hoecake [15:37]: ;)
Hoecake [15:38]: lets say 3rd base....
LEECO [15:38]: Hoecake 4 martini's
madriver [15:38]: good for you!!! lucky bastar$
nester [15:38]: kotarah - can't do that one. volume is way too low for me. i like them average of 2mil or more
Andrew [15:38]: Today you needed to believe in the mid-day contrarian move.
Andrew [15:39]: The best trend was from 12:00pm to 2:00pm
kotarah [15:39]: BUY 3000 SOMX @$3.06
nester [15:39]: do like the chart setup though. 50/200 crossing
kotarah [15:40]: I hear you
madriver [15:40]: skip dating and go to mating....lol
Andrew [15:40]: Selling the bounces in retrospect has worked pretty well all day since after 10:00am.
kotarah [15:40]: I just took a shot on this wait for a bounce
Andrew [15:40]: Big Sell Volume has been #1 since then
nester [15:40]: guttsy on SOMX trending down big time
kotarah [15:40]: AVNR sold @ $3.00
Andrew [15:41]: long FAZ 18.43
Andrew [15:41]: tripled up on FAZ 18.46
Gar [15:41]: Andrew, the real giveaway that the rally was going to fail is that earlier today, the top 4 What Works were bearish. And that was when the Dow was sky high.
kotarah [15:41]: I know sometimes you have to look through the crack
madriver [15:42]: It should say then "what will work"
nester [15:42]: i need to sell some calls on that one
ortrade [15:42]: Good trading day +255$p all posted entries and exits with share amount.
Andrew [15:42]: The volume on the bounces after 10:30am wasn't all that good either compared to what it had been earlier in the morning.
nester [15:43]: good job ortrade...
Gar [15:43]: A good option trade right now would be NVDA $10 calls. Or ORCL $20 calls. Both are set up well for a parade of dip buyers.
LEECO [15:43]: BOZOS at work
Andrew [15:43]: added to FAZ 18.26
ortrade [15:43]: tnx nester.. never take these rallies too seriously..
Andrew [15:43]: added to FAZ 18.30 (double position)
madriver [15:44]: andrew...this NPR clip is too much. Guys say it's too expensive to date....lol
nester [15:44]: i only lost about 1k today... not too bad considering
kotarah [15:44]: NEXMD still climbing
Andrew [15:44]: The economy hasn't really helped.
LEECO [15:44]: bozos-lOOK AT THE dow RAMPING UP
kotarah [15:45]: These late day turn arounds suck
Andrew [15:45]: added to FAZ 18.15 (double position)
Gar [15:45]: This bozo action is exactly what I was talking about earlier. Whoever keeps doing this has to give it up in order to find a market bottom.
ortrade [15:46]: When marked does what it did today it can also retains levels.. It is why I dont take long or short.. bozos are hard to compete with..
Andrew [15:46]: I think people will remember what happened on Friday afternoon and not as many people will buy into this.
kotarah [15:46]: NEXMD moving
Gar [15:47]: There is still 15 minutes for reverse-bozo'ing to the downside.
madriver [15:47]: I said 50....it must stop there
nester [15:47]: NEXMD has great volume today. r u jumping out later today?
kotarah [15:47]: GEEZ just when PAPA said it was safe to go back in the water
Andrew [15:48]: out half FAZ tiny gain
madriver [15:48]: hey hoecake....do you have another date with that broad...do you know her name?
Andrew [15:48]: added to FAZ 18.32
ortrade [15:48]: FAZ will go up now likely but will hold to my gains..
Hoecake [15:49]: Yes I know her name, lol no other date, just next time I have a get together probably give her a call
Andrew [15:49]: FWB?
ortrade [15:49]: volatility on FAZ on 5 min is very large with tick range around 0.2 points..
madriver [15:49]: Wow...things have changed....lucky dog you
nester [15:50]: on the 4th date, don't you have to tatoo her name on your arm?
madriver [15:50]: sounds like friends with benefits kinda deal?
madriver [15:50]: nester.....how scary is that!!!
Hoecake [15:50]: Yeppers :) First new friend since divorce...many more to come I hope
Gar [15:50]: I can't believe this chat
madriver [15:51]: it's a big night Gar...we're getting ramped up for your webcast
LEECO [15:51]: gar-IS carr BACK FROM VACATION YET?
Gar [15:52]: Hope I can do justice to it. So much material to cover.
LEECO [15:52]: sTUCK CAPS LOCK
Gar [15:52]: Yes leeco.
madriver [15:52]: you will!!!!
Hoecake [15:53]: lol thanks Mad, I am glad you can live vicariously through me LOL
kotarah [15:53]: NEXM MOVING
madriver [15:53]: thinks have a changed...how long were you married hoe?
kotarah [15:53]: NEXMD
Hoecake [15:54]: 5 years, but I have been on and off with her since 5th grade....lol
nester [15:54]: kotarah - you in this one?
kotarah [15:54]: HAVE since last week
madriver [15:54]: that's crazy talk!! 5th grade....it took you that long to figure her out...wow..slow learner!!!
madriver [15:55]: kotarah....pumper!!!
nester [15:55]: what price?
Hoecake [15:55]: LOL no just grew apart, we have different wants...there is no beef
madriver [15:55]: no kids I take it
kotarah [15:55]: I bought it at $2.20
Hoecake [15:55]: 1 he is 9
kotarah [15:56]: No pumper here just info MAD
nester [15:56]: great... you dumping today? or holding overnite?
madriver [15:56]: take care of him and you'll be doing the right thing
Hoecake [15:56]: Ok testing Stock fetcher results on paper trade...lets see how these hold up over this week
kotarah [15:56]: NO
Andrew [15:56]: The big buyers are back
LEECO [15:57]: bear/bull back in red-bad for tomorrow
kotarah [15:57]: Took shots at CYCC KERX SOMX today
Andrew [15:58]: Another tricky day where one side lies in wait until the very end.
kotarah [15:58]: BP shares making a late push through 20-day EMA moving average resistance @ 31.60 & price may close above it for the 1st time since Apr. 23 (31.78)
Andrew [15:58]: added to FAZ 18.22
Gar [15:59]: Major bozo spiking.
Andrew [15:59]: out FAZ -0.87%
kotarah [15:59]: SOMX will make me want to try there pill
nester [16:00]: FAZ lunar long 18.15
Gar [16:00]: FAZ is a good lunar I think.
nester [16:01]: only went 1/2 position...
Hoecake [16:01]: ok goodnight everyone...see you tomorrow, got to get up early, I am in AZ I think market opens at 6 my time
Andrew [16:01]: Have a good one.
madriver [16:02]: later hoe
madriver [16:03]: do i get a prize?
nester [16:03]: got to get also. c'ya tonite at the webinar
madriver [16:04]: later guys
LEECO [16:04]: Hope tomorrow is better-Nite all
ortrade [16:05]: just got back.. I see market did what I said just large volatility on both sides. Glad did not enter close to the end.. Have a good day.
madriver [16:07]: GAr...you know what worked
madriver [16:08]: picking off gwen short at highs...it was up around 30% at one point today......nice gain
madriver [16:16]: Tesla was down 16% today...what a surpise...not
rw [16:35]: I said dow would be up about forty points was right as usual - same on Friday Hate to brag tho
Hoecake [17:57]:
JayBird [18:52]: Good going Cake....glad you're back among us :-)
nester [19:27]: NEW YORK (AP) -- The service sector grew more slowly in June, an industry trade group said Tuesday, offering the latest sign that the economic recovery is weakening as the second half of the year begins.
The Institute for Supply Management, a trade group of purchasing executives, said its index tracking service-oriented companies slid to 53.8 last month from 55.4 in May -- the highest point since the recovery began.
A reading above 50 indicates expansion. June's reading is well above the 37.2 low in November 2008. But it's far below the pre-recession high of 67.7 in 2004.
Sandman [19:48]: nester how do I get on the webinar?
nester [19:50]: http://www.omnovia.com/event/10281277775227
use your password
nester [19:50]: should have been mailed out to you right after you paid
Gar [19:51]: I just private-chatted Sandman and explained the login.
Sandman [19:57]: I don't know any of these names except Gary Crandall.
nester [20:01]: Webinar time. got to get
jim [20:13]: listening to webinar now
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