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Forum date: 07-13-10
Andrew [0:00]: If you are holding the 800,000 shares of stock yourself you can refuse to lend them to me to short.
fwguyus [0:00]: i think the day turned..
Andrew [0:00]: But if the owner of the 200,000 shares is willing to lend them to me I can short 200,000 shares.
fwguyus [0:01]: i can t see your comments anymore..
Andrew [0:01]: If you bought the 800,000 shares via a normal brokerage firm then you agree to allow them to lend the shares to people like me so then I might be able to short all 1m.
fwguyus [0:14]: take a look at DEAR
Andrew [0:16]: Wow, extremely strong. I definitely wouldn't buy there though since it's now so over-extended (up over 60% in just 3 days).
Andrew [0:16]: You need to either take a chance with tiny size or wait for a significant pullback when it looks to be bouncing off some support level.
Andrew [0:17]: If something goes up 60% in 3 days it could just as easily go down maybe 30% in 1 day.
fwguyus [0:17]: Interestingly it has already pulled down to support at 2.20 4
Andrew [0:17]: Yeah that would have been a good entry.
Andrew [0:18]: Now it might pull back to maybe a higher low like 2.30 or so. Maybe higher if there are a ton of buyers.
fwguyus [0:18]: i have a feeling that this one is going to shoot up to around 5 or even more this week...
Andrew [0:19]: That's a strong stock but it would be very easy to get stopped out if you buy it high unless you allow for a huge stop loss.
fwguyus [0:19]: i m using a weelky chart to look at this one..it a bit more clear..
fwguyus [0:20]: well on the weekly if the 10ma goes past its previous high, there is no telling how much hight it may go...so watching that 10 ma is going to be key
Andrew [0:20]: Looks strong on the daily chart.
Andrew [0:21]: But note that huge pullback earlier in April after it looked so strong then. The people who bought near 4.00 didn't wind up doing so well.
Andrew [0:21]: I meant looks strong on the weekly chart.
fwguyus [0:21]: i would like to see the 10 ma go past 2.30 before even consideri it...
fwguyus [0:22]: lets keep an eye on it tomm..
Andrew [0:23]: Yeah looks like a great one to watch. It might be a decent short if sellers emerge near 3.00.
fwguyus [0:23]: ALD
Andrew [0:23]: But longer-term looks like a great buy on a big pullback.
fwguyus [0:23]: i agree...
Andrew [0:23]: It might need some days of consolidation.
Andrew [0:23]: To digest that huge fast move.
Andrew [0:24]: Then maybe it will show a safer entry (near the low of the consolidation range).
fwguyus [0:24]: to mee..i feel that that huge fast move was expected..we just missed..it...
Andrew [0:25]: It provided some great low-risk entries intraday. But if you buy up here I think you'd need to have your stop below 2.60 though.
fwguyus [0:25]: This one may freak you out..check out the volume couple days back..GTE
Andrew [0:26]: Wow, huge selling volume.
Andrew [0:27]: Looks like a nice low-risk short.
fwguyus [0:28]: GTE to me look like a nice multiday long..since it has held up at its support well for the 3rd time...
Andrew [0:28]: That's interesting. Here's where I'm coming from...
Andrew [0:28]: It's been stuck holding below its 50-day moving avg. since the beginning of May.
Andrew [0:29]: When it bounced back up to 5.50 it came down hard.
Andrew [0:29]: Then on 6/25 it bounced up to 5.40 and sold off very hard again, this time on HUGE volume.
Andrew [0:30]: The next day it popped up again near 5.40 but didn't even reach that before the sellers sold it off very hard again.
fwguyus [0:30]: i dont know if it came down hard in relation to many other stocks that tanked..i m surprised that it even held up ..with the way market been for the past couple of months..
Andrew [0:30]: Then last week when the market made higher highs the sellers have been holding it down at 5.27.
Andrew [0:31]: And today it even visited sub-5.00 prices.
Andrew [0:31]: I think if the overall market hadn't bounced then GTE would probably be back below 5.00 already.
Andrew [0:32]: I think it wouldn't be a long candidate until it closed above 5.30 for a few days in a row.
fwguyus [0:32]: i like how it made a new hight after it hit 6 and then came down to support...
Andrew [0:32]: It's only closed above 5.30 for a single day since 6/4.
Andrew [0:32]: Very very weak.
Andrew [0:33]: Might be worth a chance long if you can buy in the high 4.00s with a stop below 4.80 or so though.
fwguyus [0:33]: did you see the volume on 6/25..what is all that about..
Andrew [0:34]: The 6/25 volume is selling volume.
fwguyus [0:34]: selling and buying..
fwguyus [0:35]: another one to keep an eye on..
Andrew [0:35]: Oh actually I think that volume doesn't mean anything at all.
Andrew [0:35]: That was the day when the Russell 2000 index rebalanced so lots of small cap stocks did a ton of volume in the last minute of trading.
fwguyus [0:36]: oh ok..
Andrew [0:36]: Yeah that explains that. Forget about the 6/25 volume on any small caps you see.
fwguyus [0:37]: GAME
fwguyus [0:37]: may see a nice pull back on it tomm..
Andrew [0:38]: GAME looks great on a pullback.
fwguyus [0:38]: thats what i was thinking to...
Andrew [0:38]: Maybe 6.00 is a possibility.
fwguyus [0:38]: to atleast 5.70
Andrew [0:39]: Yeah that would be a great entry.
fwguyus [0:39]: lets put this one on the list for tomm..
Andrew [0:39]: Good idea.
Andrew [0:40]: That looks like it could go u to 6.50 pretty easily and if it gets past that maybe it will shoot up to 7.00 with little resistance.
Andrew [0:41]: Longer term, maybe 7.60 or 8.00 could be possible.
fwguyus [0:42]: this one i like for a long..
fwguyus [0:42]: klic
fwguyus [0:42]: a long for tomm...
Bryce [0:42]: Andrew, you making any money?
Andrew [0:43]: Yeah things have been going great the last few months.
Bryce [0:43]: Great! How about lawyering?
Andrew [0:43]: Not yet. Probably next year. :)
Bryce [0:44]: ok, trading is more fun anyway.
fwguyus [0:44]: KLIC should easily hit 10 buy next week...
Bryce [0:44]: Jaybird, you still a Montana girl?
Andrew [0:45]: I'm not sure on the risk-reward. Looks like a high likelihood of it stalling out near 8.80.
fwguyus [0:45]: and then swing back down to 8
Andrew [0:45]: How have you been Bryce?
Bryce [0:45]: Very good, mostly in cash now.
Andrew [0:46]: KLIC faced lots of selling near 8.80 in April 2010 as well as back in Sept. 2007. It is a long-term resistance area.
Andrew [0:47]: 9.40 is another long-term resistance level. I don't really think it's reasonable to expect beyond that max in the short term.
Andrew [0:47]: It seems just as likely to go back to 6.20 as to 10.
Andrew [0:48]: Can't go wrong being in cash lately.
fwguyus [0:49]: ok here is one you will like..nice strong vol..and making new highs...pwer...but think it will pull to abou 8 before it heads way up north..
Andrew [0:51]: Looks pretty nice near 8.50 maybe scaling in as it moves down to 7.50 (if it does).
Andrew [0:52]: It might need a few more days of profit-taking / consolidation in the high 8.80s before attempting 9.00 again.
Andrew [0:52]: Long-term though looks great to me.
fwguyus [0:53]: i cant belive how strong CRUS has been..but it needs to shorted big time soon..and i have feeling it coming up very soon..
Andrew [0:54]: CRUS looks extremely strong.
fwguyus [0:54]: there will be a major pull back with it closer to 10..
Andrew [0:55]: I doubt that's likely.
Andrew [0:55]: Unless the whole market pulls back a ton.
fwguyus [0:55]: yea..thats what i mean mabe next time around when the market starts going bear...
Andrew [0:55]: It's been making so many higher lows, it's almost too perfect.
fwguyus [0:56]: lol
Andrew [0:57]: I'd only try shorting it as a day trade or a swing trade if you observe high volume selling ever somewhat near 18.80s.
JayBird [0:58]: Tomorrow morning, one economic report scheduled to be released before the open. Trade Balance (Consensus -$39.4 billion).
Tomorrow, before the open, look for FAST, HITK and INFY to report.
fwguyus [0:58]: ok buddy im gonna hit the hay...talk to you tomm....
Andrew [0:58]: Me too. Good night.
carr [6:49]: morning all
carr [6:50]: hey ravin, you are back
nester [7:30]: NEW YORK (AP) -- Upbeat reports from Alcoa and CSX to kick off earnings season sent stock futures higher Tuesday. The market is set to build on a five-day winning streak.
Investors welcomed better-than-expected profits from aluminum maker Alcoa Inc. and railroad operator CSX Corp. They each said volume and sales increased during the second quarter, a welcome sign during a period where most economic reports showed the economy was expanding but at a much slower pace that many traders had hoped.
Alcoa's earnings reports are closely watched because it is the first component of the Dow Jones industrial average to report results and it has a varied customer base. CSX also provides insight into economic activity because it ships a wide range of products.
nester [7:30]: LONDON (AP) -- European stock markets rose Tuesday after aluminum company Alcoa Inc. kicked off the U.S. corporate reporting season with a strong set of earnings, though optimism was reined in by a credit rating downgrade to Portugal and fears about the Chinese property market.
In Europe, the FTSE 100 index of leading British shares was up 55.79 points, or 1.1 percent, at 5,222.81 while Germany's DAX rose 72.21 points, or 1.2 percent, to 6,149.40. The CAC-40 in France was 40.42 points, or 1.1 percent, higher at 3,608.08.
Wall Street was also poised to open modestly higher, with Dow futures up 34 points, or 0.3 percent at 10,215, and the broader Standard & Poor's 500 futures 5.1 points, or 0.5 percent, firmer at 1,081.70.
nester [7:31]: SINGAPORE (AP) -- Oil prices fell below $75 a barrel Tuesday in Asia as investors looked for fresh signs of a growing U.S. economy from second quarter corporate earnings reports.
Benchmark crude for August delivery was down 37 cents to $74.58 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $1.14 to settle at $74.95 on Monday.
Oil prices have danced around the $75 level for about a year as the global economy rebounds from last year's recession but growth in developed economies remains sluggish. Burgeoning U.S. crude inventories and weak demand have kept investors from bidding oil higher.
nester [7:32]: WASHINGTON (AP) -- Big companies are building up cash and are expected to report strong earnings starting this week. Not so for small businesses that can't get loans -- or hire freely until they do.
The gap helps explain why the economic rebound isn't stronger and could even stall. Federal Reserve Chairman Ben Bernanke stepped up pressure Monday on banks to break the logjam and lend more to smaller firms, which employ at least half of American workers.
Small business owners are relying on personal credit cards or raiding retirement accounts to stay afloat, the Fed chairman said.
nester [7:32]: WASHINGTON (AP) -- The federal budget deficit likely will top $1 trillion through the first nine months of this budget year, a slightly improvement from last year's record pace.
Analysts surveyed by Thomson Reuters are forecasting that the June deficit will total $69.5 billion, which would push the deficit so far this budget year above $1 trillion. The Treasury Department will release the June deficit at 2 p.m. EDT Tuesday.
The June imbalance would compare to a deficit of $94.3 billion in June 2009. The Congress Budget Office is forecasting that government receipts will be up by about $36 billion this June, compared to June 2009, reflecting in part higher collections of corporate income taxes as company profits rise with a rebounding economy.
nester [7:33]: Economic data over the last several weeks have signaled a sluggish, even sputtering, U.S. recovery in the spring. But second-quarter GDP figures due at month's end will likely show growth steady or even picking up from the first quarter, analysts say. What's going on?
Gross domestic product is calculated as an average in each three-month period. So activity can decelerate over a given quarter but still exceed the prior quarter's average growth rate.
"Some of the second-quarter growth depends on what happens in the latter part of the first quarter," said Scott Brown, chief economist at Raymond James. "If March is strong, it's going to make the second quarter look better."
By the same token, weakness in June portends a soft third quarter.
IHS Global Insight says GDP probably grew at an annual rate of 3.8% in Q2, faster than Q1's 2.7%. It sees growth slowing to 2.3% in Q3.
"The economy entered the second quarter with quite a bit of momentum, but then lost it as the quarter went on," said Nigel Gault, the firm's U.S. research director. "I'm looking for better growth in the second quarter, but then a slowdown in the third quarter."
carr [7:34]: morning nester
nester [7:34]: NEW YORK, July 13 (Reuters) - U.S. stock index futures were higher on Tuesday after better-than-expected results from Alcoa Inc (AA.N) and CSX Corp (CSX.N) gave a promising start to the earnings season.
* Late on Monday Alcoa, the first Dow component to report, posted second-quarter earnings that beat expectations, raising hopes of similarly strong results for other companies this season. Rail company CSX also posted a higher-than-expected profit. For details, see [ID:nN12206110] and [ID:nN12205564]
* Alcoa shares were up 4.5 percent to $11.36 in premarket trading while CSX closed Monday at $52.46.
* Despite the strong earnings, gains could be capped by continued worries over the outlook for the euro zone after ratings agency Moody's Investor Service cut its rating on Portugal by two notches to A1. This follows rival agency S&P's two-notch cut of Portugal's debt in April. [ID:nLDE66C0FN]
nester [7:34]: morning carr
nester [7:35]: July 13 (Reuters) - U.S. Treasuries ticked up in Asian trade on Tuesday on bargain-hunting to take advantage of a rise in the 10-year yield in the past week, while many traders were looking to corporate earnings for market direction.
nester [7:35]: LONDON (MarketWatch) -- European shares rose on Tuesday, after Alcoa got the U.S. second-quarter earnings season off to a good start, BMW hiked its earnings outlook and a report suggested that new bank capital rules will be less onerous than originally estimated.
nester [7:35]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trading in Tuesday's session are Intel Corp., Fastenal and Yum! Brands Inc.
carr [7:37]: morning rw
rw [7:40]: GAR was right about AA - AA is up - Would have been a good play. GAR has a "feel" for the markets that you do not receive just from education - Many trade their life times and do not have or get the "feel"
rw [7:40]: Morning Carr:
rw [7:40]: dental this am be here around 9am oklahoma time
carr [7:41]: hopefully just routine dental, not a big fan of dental work
rw [7:41]: Yes routine: I have been thru a lot of implants.....Bridges before that.......
JayBird [7:50]: 8:30 am - US May Trade Balance
10:00 am – US July IBD/TIPP Economic Optimism
1:00 pm - US Treasury’s $21B 10-yr auction
2:00 pm - US June Budget Statement
4:30 pm - API Crude Oil/Gasoline/Distillate Inventories
5:00 pm – ABC Consumer confidence
Earnings
Before the Open:
FAST, INFY
After the Close:
AIR, ADTN, INTC, YUM
rw [7:50]: gld lvs arm projected as schorts via schwab longs maybe HSBC SINA I think JNK , PM RAI longs today
carr [7:57]: Morning JB Kotarah Leeco
DJalecC [7:57]: CVLT dropping like a stone in pre-market, could be a good bouncer!
kotarah [7:57]: Good morning everyone
DJalecC [7:57]: morning all :-)
carr [7:57]: Morning DJ
DJalecC [7:58]: morning carr :)
kotarah [7:58]: Nester VVUS on ABC last night Diet drug ..Also ARNA ..OREX maybe ones to watch today
kotarah [7:59]: Vivus up over 13% after the FDA posts Briefing Documents for 7/15 panel meeting (10.65)VVUS is up over 13% in pre-market trade after the FDA posted the briefing documents for the 7/15 panel meeting on VVUS's drug Qnexa for obesity. The FDA noted that all three doses of Qnexa were effective for obesity. The questions that the FDA wants the panel to focus on are around the safety and risk of the drug. The adverse events include: potential of fetal malformations from Qnexa, increased of events of depression, anxiety, and sleep disorders, increased disorders of disorders of attention, memory, and language, as well as the decreases of serum bicarbonate and increase in heart rate. This event is also expected to shape expectations for OREX and ARNA as they have obesity drugs that are going through clinical review as well.
nester [7:59]: sort or long?
kotarah [8:00]: There is some questions on side effects
kotarah [8:00]: OREX ARNA do not have this problem
kotarah [8:01]: LDK solar has NEWS
nester [8:01]: VVUS is up 23%
kotarah [8:01]: I see
nester [8:03]: SOMX up 10 cents
kotarah [8:04]: Yes no news
LEECO [8:05]: Good Morning-JB,Andrew,nester,(DOW up 60 now)
carr [8:05]: what is with CVLT DJ down over $5 and no news?
carr [8:05]: Morning Leeco
nester [8:05]: morning Leeco
kotarah [8:05]: Vivus up over 13% after the FDA posts Briefing Documents for 7/15 panel meeting (10.65)VVUS is up over 13% in pre-market trade after the FDA posted the briefing documents for the 7/15 panel meeting on VVUS's drug Qnexa for obesity. The FDA noted that all three doses of Qnexa were effective for obesity. The questions that the FDA wants the panel to focus on are around the safety and risk of the drug. The adverse events include: potential of fetal malformations from Qnexa, increased of events of depression, anxiety, and sleep disorders, increased disorders of disorders of attention, memory, and language, as well as the decreases of serum bicarbonate and increase in heart rate. This event is also expected to shape expectations for OREX and ARNA as they have obesity drugs that are going through clinical review as well.
DJalecC [8:06]: CVLT is Q1 Revenue, but its not that bad, worth watching that one on open me thinks
carr [8:06]: just came in DOWNGRADE: Commvault Systems (CVLT) downgraded by Stifel Nicolaus from Buy to Hold. 07/13 08:06 AM
kotarah [8:06]: STOCKS to watch.... TUES ..LF .. VSh .. Em ..
LEECO [8:07]: morning carr,kotar,JB,rw,
DJalecC [8:08]: Don't forget BP watcher!
LEECO [8:08]: I'm getting a lot of double posts right now
kotarah [8:08]: NEWS.. GRO WXS LDK STXS LIFE
kotarah [8:09]: Good morning LEECO
carr [8:09]: None here Leeco, maybe restart SV
DJalecC [8:10]: single posts here Leeco
LEECO [8:10]: carr-How is the bus plan Garsworld coming-any ready date?
carr [8:11]: not yet Leeco
kotarah [8:11]: NEW YORK (AP) -- Vivus Inc.'s potential weight loss drug Qnexa will likely draw scrutiny over nervous system and psychiatric side effects from a panel of Food and Drug Administration experts this week.
The FDA acknowledges the potential blockbuster drug's effectiveness in cutting weight. But, in briefing documents posted online Tuesday the agency raised concerns about a range of side effects. It said reviewers should take into account rates of depression, memory and concentration lapses, and heart-related issues, among others.
A panel of experts is scheduled to review the drug on Thursday, with the FDA making a regulatory decision in October.
LEECO [8:13]: the best weight loss drug is lo-carbs and cut down portions -I know lost 65 pounds in 2007-8n &kept it off
nester [8:13]: kotarah - how come we didn't go long on it?
carr [8:15]: CVLT is trading pretty heavy volume for pre-market over 10% of the daily average
kotarah [8:15]: No long here as it has many questions on safety maybe another short up coming NESTER
kotarah [8:15]: look at ARNA its way up no side effects
nester [8:16]: i still like it as a short. the market just hasn't turned over yet. it may break trendlines today though
JayBird [8:16]: S&P futures vs fair value: +10.20. Nasdaq futures vs fair value: +15.00. Futures for the S&P 500 have a strong lead over fair value. Their climb coincided with a move by the euro that erased its loss against the dollar. The euro is now down just 0.1% against the greenback. Meanwhile, Europe’s major bourses are up sharply after a debt auction from Greece. News that analysts at Moody’s downgraded the debt of Portugal seems to have had little impact.
nester [8:16]: morning JB - early isn't it ?
kotarah [8:17]: look at what happened yesterday on VVUS dropped $1 I posted the news on side effects VVUS may have a big problem here
nester [8:17]: options on ARNA are fairly inexpensive...
carr [8:18]: CRUS taking off in pre
nester [8:18]: VVUS charts scream short to me. wait for this to run up then short it, i agree with you...
JayBird [8:18]: Morning Nester....it's early but not as early in Montana as in Oregon :-)
kotarah [8:19]: Im looking at them as well It will continue small leaps However the drug doesnt work as well as VVUS
kotarah [8:19]: BIG SKY
kotarah [8:19]: I like CRUS as well CARR
nester [8:20]: i may have to dump my shorts today... hate that
JayBird [8:21]: I hear ya...Nester....my SPY puts are suffering
kotarah [8:22]: Gapping up In reaction to strong earnings/guidance: AA +3.5%, BRKS +3.4% (light volume), NVLS +2.0%, CSX +1.4%, CVX +1.2%.
Select financial related names showing strength: C +2.2%, HBAN +2.0%, HBC +1.9%, LYG +1.6%, SNV +1.5%, ING +1.2%, RF +1.1%... WFC +1.1%, JPM +1.1%, GS +0.8% and MS +1.2% (initiated with Positives at Susquehanna), .
Select metals/mining related stocks trading higher boosted by AA results: CENX +4.3%, TCK +2.2%, BBL +2.1%, RTP +2.1%, ACH +2.1%, AKS +1.6%, FCX +1.5%, X +1.4%, BHP +1.3%, MT +1.0%.
Select oil/gas related names showing strength: ESV +2.4% (Greenlight Capital discloses 5.2% stake in 13G filing), BP +2.3% (announces capping stack was installed on M252 well), APC +1.8%, CHK +1.7%, TOT +1.2%.
JayBird [8:22]: Yes...kotarah....can't get enough of the Big Sky views.....awesome
kotarah [8:23]: If anyone has not seen it It is truely Gods country
nester [8:24]: cold...
kotarah [8:25]: get a blanket
JayBird [8:26]: 48 degrees right now but will be 80....
carr [8:26]: cold is always a relative term
nester [8:26]: our winters dip all the way down to 58 at times... freezing
kotarah [8:27]: If yor a MOOSE
carr [8:27]: That is the summer high in some places
JayBird [8:29]: Don't forget I'm 7 miles from the Canadian border on a 3100' plateau....I hear it get brutally cold here
nester [8:30]: too far north and too high... we are in the southern tip of Florida at sea level... much more better
LEECO [8:30]: DOW Sept Futures +60
kotarah [8:31]: watch out for the storms
carr [8:31]: nester are you in the keys or mainland
nester [8:31]: we outlawed them...
LEECO [8:31]: nester I thought you were in Kansas not FL
kotarah [8:31]: Todo
nester [8:31]: mainland... just north of Ft. Lauderdale
kotarah [8:32]: SQNM taking a dive
carr [8:32]: 3 years ago I lived in Boynton Beach
LEECO [8:32]: nester-Titusville?
nester [8:32]: Leeco - my home is there. i am temp working in Kansas. can't wait to leave cold here too
nester [8:32]: Pompano Beach
LEECO [8:32]: Been in 90's to 104 in Ricmond,Va
carr [8:32]: we were almost neighbors
LEECO [8:33]: Popano-nice place
nester [8:33]: yes. Boynton isn't far
JayBird [8:33]: Back to the warm covers.....can't bear watching SPY keep climbing
kotarah [8:33]: Bios to watch.. BIOD ARNA AVNR
LEECO [8:33]: I used to have a condo (Time share ) in Hollywood Beach , Fla
kotarah [8:34]: AFFY
nester [8:34]: Hollywood is 10 miles south of us
LEECO [8:35]: DOW futres here and now +62
kotarah [8:35]: Nester you should keep an eye on SQNM as it may reverse itself quickly
kotarah [8:36]: S&P futures vs fair value: +11.10. Nasdaq futures vs fair value: +17.00.
nester [8:36]: hate that ticker... i've played SQNM a few times. hard to read
kotarah [8:37]: WATCH IT
nester [8:37]: k
kotarah [8:37]: VVUS starting to go down NESTER
nester [8:38]: wow... falling fast
kotarah [8:38]: I posted why
nester [8:38]: shall we short it?
kotarah [8:39]: I would wait till it settles first
nester [8:39]: seems it found resistance at 12.10
nester [8:40]: support...
nester [8:40]: broke thru
kotarah [8:40]: yes it will be all over the map in the begining
picker304 [8:41]: Welcome trials. There are many good traders here that can assist you however please do your own research by studying the tutorials and have a trade plan before following anyone’s trades. Many here can help guide you through the site. Feel free to request a private chat with online users. We are eager to assist you. Enjoy your visit and we hope you become a regular part of the family
kotarah [8:41]: If sqnm post bad news short the crap out of it
nester [8:41]: short 12.05 small position
kotarah [8:41]: morning Pick
nester [8:41]: morning pick
kotarah [8:42]: nice play ballsey
carr [8:42]: morning picker
LEECO [8:42]: morning picker
kotarah [8:42]: UP UP AND AWAY PICk
picker304 [8:42]: Morning men
picker304 [8:42]: and women
picker304 [8:43]: Hello kot Yes I still feel a medium term uptrend
picker304 [8:43]: with some fakes. Hope I'm right but bad news usually not
LEECO [8:43]: pick yourb 08:41 postwas a good welcome for newbies
picker304 [8:44]: Thx Leeco lets hope they are not new very long
picker304 [8:45]: need to work on my english lol
kotarah [8:46]: good swing today Pick looks good for now lets hop Portugals down grade has no effect
fwguyus [8:46]: mornin all
kotarah [8:46]: morning
kotarah [8:47]: nice play NESTER on VVUS
nester [8:47]: morning fw
carr [8:47]: morning fwguyus
picker304 [8:48]: Yes kot but downgrades don't effect for long thats the good thing. Most of that stuff is built in. all the same I agree
kotarah [8:48]: almost a $3 jump in pre market
LEECO [8:48]: morning fwguy,
kotarah [8:49]: It looks like off to races
kotarah [8:49]: Need help with the carry bags of money nester ??
nester [8:50]: please?
nester [8:51]: think it will fall back to 11.50?
kotarah [8:51]: OREX moving on Diet drug news
kotarah [8:51]: agree
kotarah [8:51]: Side effects are a bitch
picker304 [8:51]: Carr OREX jump in!
kotarah [8:52]: both OREX and ARNA will pop THUS POPS AND DROPS
kotarah [8:53]: Almost NESTER money bag full yet
nester [8:53]: nah... have lots of room yet
kotarah [8:53]: let me know Pick is available too
nester [8:54]: wish i would have put a bit more on it... just wasn't sure
kotarah [8:54]: I gave it too you yesterday and posted why it was a short today
picker304 [8:54]: Yes but there is a carrying charge
Andrew [8:55]: Good morning. Looks like a nice gap up today.
kotarah [8:55]: no problem pick NESTER has lots
nester [8:55]: only at 5% now
kotarah [8:55]: 11.50 breach coming
nester [8:55]: how about 11.30?
fwguyus [8:56]: bought S at 4.33 and sold 5000 shares at 4.65 now..
kotarah [8:56]: getting a little support now
fwguyus [8:57]: Looks like S is going to be on Sale and is going to get pushed up
Andrew [8:57]: There will likely be strong resistance near SPY 109.80 (from 50-day moving avg. coinciding with trendline from 4/26 and 6/21 highs).
nester [8:57]: almost got me out there
kotarah [8:57]: SQNM looks to have found support as well
kotarah [8:57]: 11.50 my friend
nester [8:58]: greedy now...
kotarah [8:58]: Look at it fall
Andrew [8:58]: Are you trading it premarket?
Andrew [8:58]: Good job fw
fwguyus [8:58]: yea...
fwguyus [8:59]: i couldnt resist...
nester [8:59]: yes. just a little position though
kotarah [8:59]: nester has made his quota already ANDREW
Andrew [8:59]: VVUS looks like a great one to watch today.
kotarah [8:59]: HA HA
nester [9:00]: may bail at 11.30 area
kotarah [9:00]: I would
nester [9:00]: out 1/2 at 11.50 +5%
lindo [9:00]: morning all
Andrew [9:01]: Wow, nice
kotarah [9:01]: More to come
nester [9:01]: still looks weak here
kotarah [9:02]: You may have your goal met @ 11.30
kotarah [9:02]: AH life is good
fwguyus [9:04]: DEAR, it will be doing something as soon as it opens...
kotarah [9:04]: looks like support at 11.50 NESTER
nester [9:04]: looking like it
kotarah [9:05]: CRUDE UP
kotarah [9:05]: $76.65
nester [9:05]: thinking HERO?
kotarah [9:06]: I like it too watching it as well
nester [9:06]: it fell hard due to BP spill.
kotarah [9:07]: SQNM moving back up NESTER
fwguyus [9:07]: KLIC looks rael nice too..
kotarah [9:07]: PKD as well
kotarah [9:07]: VVus found support
jolox [9:07]: Nester...watch small techs
nester [9:08]: if it breaks this, could fall hard
kotarah [9:08]: Wow 13.50 to 11.50
nester [9:08]: morning jolox...
kotarah [9:08]: morning JOLOX
jolox [9:08]: Good Morning everyone
kotarah [9:08]: FBR Capital Mkts notes the Secretary of the Interior Ken Salazar reissued the moratorium on deepwater drilling in light of a court's refusal to reinstate the original moratorium. In FBR's view, Interior's approach points to a reduced likelihood of the extreme scenarios-that a drilling ban would end before six months or last two years. The Administration is demanding answers to tough questions on spill prevention and response, but it also highlights the potential for interim measures to allow drilling in the medium term.
Andrew [9:09]: ATPG is showing a lot of weakness on its downgrade
LEECO [9:09]: morning jolox
fwguyus [9:09]: EEFT is looking very nice..as a long..
Andrew [9:10]: CENX could be a good one to short on the gap up
kotarah [9:11]: News ELON
jolox [9:11]: AMAT....NVDA.....AMD.....PHM.......Homebuilders may move today....LEN...DHI
kotarah [9:13]: AAPL not so good
carr [9:13]: morning Jolox
Andrew [9:15]: Looking forward to today... there will be so many great short entries.
kotarah [9:15]: Tell me your not holding NESTER VVUS
kotarah [9:15]: Its already started
nester [9:15]: stopped out VVUS +3%
kotarah [9:16]: thats it
Andrew [9:16]: Good exits
jolox [9:16]: AA stronger than I thought...propped up Euorpean mkts.....watch other aluminum producers....ACH...CENX....KALU....NOR
nester [9:16]: would get past that 11.45 area
nester [9:16]: wouldn't
kotarah [9:16]: well it was good
nester [9:17]: may play it again after opening.
kotarah [9:17]: let it settle
Andrew [9:17]: Hopefully it will get back up to 12.00
nester [9:17]: SOMX looking down
nester [9:18]: that would be nice. like to see it back up to 12.10 area again then fall hard
kotarah [9:18]: still no news or rumor
kotarah [9:18]: Like yesterday
Andrew [9:19]: XLF is gapping up above its 50-day moving avg. so FAZ could be good today.
kotarah [9:19]: EURO LAND markets up
nester [9:19]: the volume on it wasn't bad. little over 4mil
kotarah [9:19]: Me and Pick are available NESTER
nester [9:20]: i'll keep that in mind...
kotarah [9:20]: what do you need friends for?
nester [9:21]: i only have about 1k in my trading account... not much to carry
kotarah [9:22]: DONT LIE
kotarah [9:23]: AVNR
DJalecC [9:23]: CVLT down 25% normally trades around the 20-23$ mark - BOUNCER?!? - WATCHING :-)
nester [9:23]: ok, almost 2k...
kotarah [9:23]: nice pop in C
kotarah [9:23]: thats better
kotarah [9:24]: SOmx not a player today
nester [9:24]: not looking like it
Andrew [9:24]: Why not?
kotarah [9:25]: Because we wnt it to go up not kill it ANDREW
nester [9:25]: nothing pushin it it should stay or fall a bit today
kotarah [9:26]: Thats right up ANDREWS ally
kotarah [9:29]: ARe you watching SQNM Nester?
nester [9:30]: among others...
kotarah [9:30]: CLDX
kotarah [9:30]: ARNA
Andrew [9:31]: long FAZ 14.22
Andrew [9:31]: short CENX 10.10
Andrew [9:32]: short VVUS 11.81
nester [9:32]: VVUS long 11.80
nester [9:32]: lol
Andrew [9:33]: added to VVUS short 11.98
Andrew [9:33]: I'm just scaling in a bit to all these
LEECO [9:33]: WOW-DOW up 100 points in first 2 minutes-I think Ibetter wait 1/2 hr to see where we are going
kotarah [9:33]: SQNM NESter
nester [9:34]: you in?
Andrew [9:34]: added to CENX short 10.05
kotarah [9:34]: yes
nester [9:34]: where?
Andrew [9:34]: added to VVUS short 11.97
kotarah [9:34]: 5.56
kotarah [9:35]: BIOD
forrestww [9:36]: good morning folks
kotarah [9:36]: good morning
nester [9:36]: morning forrest
carr [9:36]: morning forrest
Andrew [9:36]: added to FAZ 14.14
nester [9:36]: added VVUS long 11.93
Andrew [9:37]: added to VVUS short 12.16
kotarah [9:37]: BIOD
nester [9:38]: out 1/2 +3.5%
Andrew [9:38]: added to VVUS short 12.20
kotarah [9:38]: Switch hitter
picker304 [9:38]: out CSCO aug 21 26+
iswing64 [9:38]: Great job pick!!
Andrew [9:38]: added to CENX short 10.01
kotarah [9:38]: OREX HOD
kotarah [9:39]: ARNA HOD
kotarah [9:39]: ACAS
Andrew [9:39]: added to FAZ 14.8
Andrew [9:39]: 14.08
picker304 [9:39]: Thx swing learned it from you! Of course that can go against you cuz LOL
Andrew [9:39]: out VVUS -2%
picker304 [9:40]: Welcome trials. There are many good traders here that can assist you however please do your own research by studying the tutorials and have a trade plan before following anyone’s trades. Many here can help guide you through the site. Feel free to request a private chat with online users. We are eager to assist you. Enjoy your visit and we hope you become a regular part of the family
nester [9:40]: didn't think VVUS would get back up that high...
Andrew [9:40]: back short all VVUS 12.41
Willie2 [9:40]: Knight was right about FAZ going to $14.00
Andrew [9:41]: added to FAZ 14.06
nester [9:41]: out VVUS +4%
ortrade [9:41]: FAZ 3000s@14.10p
Andrew [9:41]: I think a lot of stops were taken out there.
Andrew [9:41]: VVUS had a high short interest
kotarah [9:42]: ARNA HOD
kotarah [9:42]: OREX HOD
Andrew [9:42]: added to CENX short 9.93
nester [9:42]: well, we are breaking thru that trendline on the DOW. so more up?
Andrew [9:43]: out VVUS -0.56%
nester [9:43]: SOMX down 1.5%
kotarah [9:43]: 3.4% short VVUS
iswing64 [9:44]: Nester turning bullish?
nester [9:44]: lol... maybe
iswing64 [9:44]: lol
Andrew [9:44]: back short all VVUS 12.71
kotarah [9:44]: Its another short up by 13
picker304 [9:45]: out GE aug call 16 75+ .. but small posirtion dang it LOL
kotarah [9:45]: OREX flying
Andrew [9:45]: added to FAZ 14.11
nester [9:45]: swing - i will need your help with that transistion...
jolox [9:45]: Bought 3 10AMAT CALLS @ 2.63
iswing64 [9:46]: Hey i'm on the fence...no clue!
nester [9:46]: the only longs i have looked up in the past month have been inverse ETF's.
forrestww [9:47]: did anyone see that hugh drop on TZA
kotarah [9:47]: ARNA HOD
Andrew [9:47]: The Russell 2000 is performing better than the other indicies today.
kotarah [9:47]: AAPL getting killed
ortrade [9:47]: Exit FAZ -110p
nester [9:48]: TZA got killed this morning...
Andrew [9:48]: out half VVUS +2.5%
Andrew [9:49]: added back to VVUS short 12.46
nester [9:49]: TZA long 36.60
forrestww [9:49]: its going to be interresting to watch
nester [9:49]: VVUS short 12.37
picker304 [9:50]: Hey swing check d's on daily INDU you see what I see or no?
iswing64 [9:51]: Looks strong pick!!
picker304 [9:51]: I also love what the aroon is doing at this point. However nothing is 100%
kotarah [9:51]: SOMX NESTER
nester [9:51]: down...
kotarah [9:52]: DOWN
iswing64 [9:52]: Part of why i'm on the fence pick
picker304 [9:52]: Yes undertand cuz
kotarah [9:52]: HT HOD
Andrew [9:52]: added back to VVUS short 12.37
Andrew [9:52]: 12.47
nester [9:53]: out TZA -1%
kotarah [9:53]: ADCT
Andrew [9:53]: added to CENX short 9.98
Andrew [9:53]: added to FAZ 14.07
nester [9:54]: VVUS looking like it is wanting us to short it back into the 11's
ortrade [9:55]: FAZ 3000s@14.07p
Andrew [9:55]: out 1/4th VVUS +2.6%
kotarah [9:55]: YEP
Andrew [9:56]: The green volume bars in VVUS are decreasing but the buyers might just be taking a break.
nester [9:57]: short PXP 21.48
ortrade [9:57]: CPNO 500s@27.06p
picker304 [9:57]: F july call 100- ... Go ahead and post now dead in water
Andrew [9:58]: added back to VVUS short 12.48
kotarah [9:58]: 10-yr: -03/32..3.074%..JPY: 88.36..EUR: 1.2633
iswing64 [9:59]: Can't win em all pick
kotarah [9:59]: C HOD
nester [9:59]: lol... one of my rules is not to short a strong market. but all i see is shorts
Andrew [9:59]: added to VVUS short 12.39
jolox [9:59]: Nester......HOG up+ 40
kotarah [9:59]: I see dead people
iswing64 [9:59]: lol nester..think we blow past 200sma
kotarah [9:59]: HT HOD
lindo [10:00]: kot, lol
kotarah [10:00]: CLDX HOD
iswing64 [10:00]: or reverse soon
nester [10:00]: good call jolox
Andrew [10:00]: Did anyone pull the trigger on ATPG short?
kotarah [10:01]: SQNM HOD
jolox [10:01]: It's summertime......wind in my hair......bugs in my teeth......nothing like a Harley !!
iswing64 [10:02]: Hey me too jolox...cool
Andrew [10:02]: short RDN 8.47 (triple position)
fwguyus [10:02]: ADCT flying
nester [10:02]: lol... did you watch the Harley issue going thru South Park ?
kotarah [10:02]: ENTG NEWS
kotarah [10:03]: SQNM HOD
iswing64 [10:03]: Yes...very funny...my kids make fun of me...
kotarah [10:03]: NESTER
jolox [10:03]: Truthfully......wind on my head.....bald.....childhood hormone embalance.
picker304 [10:04]: lol
Andrew [10:04]: out 1/5th VVUS +2.8%
nester [10:04]: SQNM movin nicely
iswing64 [10:04]: I think were at the 200
Andrew [10:04]: out another 1/5th VVUS +3.1%
kotarah [10:04]: I would say so
kotarah [10:05]: some news coming nester watch it
jolox [10:05]: ATGP.......MOVING UP
jolox [10:05]: ATPG
nester [10:05]: kotarah - on what
kotarah [10:06]: SQNM
kotarah [10:06]: Good or bad two way street
Andrew [10:06]: out another 1/5th VVUS +3%
Andrew [10:07]: added to RDN short 8.47
kotarah [10:07]: CIGX HOD
kotarah [10:08]: SQNM HOD
Andrew [10:08]: out 2/3rds FAZ -1%
kotarah [10:08]: MOVING now NESTER
Andrew [10:08]: added back to VVUS short 12.26
jolox [10:08]: CVLT.....gap dwn moving up
kotarah [10:09]: SQNM HOD
nester [10:09]: out VVUS short +1.1%
kotarah [10:09]: There she goes
Andrew [10:09]: added to VVUS short 12.29
nester [10:09]: out PXP short even
kotarah [10:10]: Im going to need help nester
fwguyus [10:10]: guys i know you dont like low volume stocks but take a look at this one..ACPW
Andrew [10:10]: added to FAZ 14.02 (double position)
Andrew [10:10]: added to FAZ 14.04 (double position)
nester [10:10]: no prob... i'm there for ya
kotarah [10:11]: thx
Andrew [10:11]: out 1/4th VVUS +2.5%
kotarah [10:11]: 6.01
picker304 [10:11]: out CSCO 2nd part 14+
karenbcz [10:12]: 3000 shrs. of FAZ @ $14.03
iswing64 [10:13]: L faz Karen?
fwguyus [10:13]: karen did you go long or short
karenbcz [10:13]: yep
nester [10:13]: VVUS short 12.03
Andrew [10:13]: short ATPG 9.36 (double postion)
karenbcz [10:13]: LONG
iswing64 [10:13]: ok
Andrew [10:13]: out another 1/4th VVUS +3.8%
kotarah [10:14]: SQNM HOD
kotarah [10:14]: off to the races
Andrew [10:15]: out another 1/4th VVUS +4.3%
fwguyus [10:15]: ACPW not in symbols list?
karenbcz [10:15]: I think $14.04 is pretty close to "the bottom" on FAZ.
Andrew [10:16]: Its avg. volume is only 90,000 shares fw
kotarah [10:16]: BIOD HOD
fwguyus [10:16]: yea...
JayBird [10:16]: If you want to watch live euro/dollar action http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
fwguyus [10:17]: pcs moving up nicely
kotarah [10:17]: definately need help NESTER
karenbcz [10:17]: but I sure would like to buy some FAZ @ $13.95!
iswing64 [10:17]: Hope so karen..if -dmi crosses adx my calls are toast..daily
Andrew [10:17]: Horrible liquidity in ACPW. It doesn't trade at all for long stretches of the day.
kotarah [10:17]: EXEL
karenbcz [10:18]: Oh dang it!! That reminds me, SWING, I shudda bought CALLS! :>(
nester [10:18]: SOMX almost back to even
karenbcz [10:18]: SING - you have FAZ calls??? for what month and SP?
karenbcz [10:18]: SWING
kotarah [10:18]: I see very slow
picker304 [10:18]: Buy faz Aug 17 calls
karenbcz [10:19]: AUG 17 calls??/ SWEET!!!
Andrew [10:19]: added to ATPG short 9.51 (double position)
picker304 [10:19]: yes karen if I think the market currently oversold if not watch out. I relly don't know what I'm doing just playing
kotarah [10:19]: C HOD
nester [10:19]: pick - why so far out the money?
Andrew [10:20]: added to ATPG short 9.50
iswing64 [10:20]: Aug 15 call karen.. got alot cheaper today!!
karenbcz [10:20]: Lordy! FAZ dropping again!!
nester [10:20]: out VVUS even
Andrew [10:20]: added back to VVUS short 12.00
picker304 [10:20]: taking a chance it will fall like a lead balloon on gap down next couple of days hope for a fake
Andrew [10:21]: out CENX +1.5%
kotarah [10:21]: BIOD HOD
fwguyus [10:21]: ATPG trying to pull back up
picker304 [10:21]: the cheapies move good in sharp turns just taking a gamble
Andrew [10:22]: added to VVUS short 12.07
Andrew [10:22]: added to RDN short 8.49
kotarah [10:23]: BIOD HOD
fwguyus [10:23]: short IVN
kotarah [10:23]: Vivus: JMP's overall read of the FDA briefing documents is positive, looking good for approval; firm's approval probability increases from 65% to 80% (12.00 +1.34)
kotarah [10:23]: Thinking of you NESTER
Andrew [10:23]: Wow, IVN had a huge move
kotarah [10:24]: so did adct
Andrew [10:24]: added to VVUS 12.13
fwguyus [10:25]: papertrading today..trying to short everything....
fwguyus [10:25]: just kiddn
fwguyus [10:26]: did anyone short BPZ
kotarah [10:26]: I would like to know how did they come up with that number 80% alot of concerns over safety
nester [10:26]: i'm still thinkin we need to short this thing...
nester [10:26]: SOMX even YEAH
Andrew [10:26]: Coal is selling off to lows
fwguyus [10:27]: kot..its all a bunch of cr*p....
kotarah [10:27]: I know
nester [10:27]: HERO didn't move like i thought...
fwguyus [10:27]: VMED is moving up nicely...
kotarah [10:28]: Still pushing the moritorium NESTER
fwguyus [10:28]: yeah..i made $40 shorting faz..on papertrade...
fwguyus [10:28]: shorting faz
fwguyus [10:29]: CIE just made a huge move
nester [10:29]: i think i might be down today... can't see things well right now
jolox [10:29]: Anyone want to take a bite of AAPL......down 9.00
Andrew [10:29]: Shorting FAZ means you think the financial sector will continue moving higher.
fwguyus [10:30]: not just yet jolox..lets watch which direction its headed in..
kotarah [10:30]: SQNM SHORT
nester [10:30]: done not down... can't type today
fwguyus [10:30]: AAPL down 8% now...woow
Andrew [10:31]: added to ATPG short 9.55
bob [10:31]: aapl: I took a bite and had to spit it out (thought it would bounce by now)
jolox [10:31]: Nester......you are dunne !
karenbcz [10:31]: "shorting" FAZ??? You're joking, right?
nester [10:32]: SID lookin like a decent short
Andrew [10:32]: out 1/4th VVUS +2.1%
fwguyus [10:32]: im papertrading karen ..so..i m just testing my skills
karenbcz [10:33]: there she goes! go little fazzy, go!
karenbcz [10:33]: FWG-ok.
fwguyus [10:33]: I thought S go south but looks like it may go up more ....
Andrew [10:34]: It's holding on pretty well but hasn't been able to stay above 4.70 yet.
fwguyus [10:34]: i may have sold off on S too soon..............
ortrade [10:34]: Exit CPNO -375p
kotarah [10:34]: STXS
fwguyus [10:35]: i dont think its going to go much higher than 4.75 area thats if it does and then take a dive to 4.50..
kotarah [10:35]: GTXI
Andrew [10:37]: added back to VVUS short 11.98
nester [10:37]: is it just me or is everything starting to look a bit weak ?
Andrew [10:37]: It would be pretty crazy if today turns into another 6/21
fwguyus [10:38]: everything is looking a bit weak
moby [10:38]: bear/bull dropped from 19 to 10
fwguyus [10:38]: LSI moving up nice and slowly..
kotarah [10:38]: Looks weak
nester [10:38]: think of FAZ $14 calls
Andrew [10:39]: added to ATPG short 9.61 (double position)
karenbcz [10:42]: Nester, I could just slit my wrist! I bought FAZ again ... instead of buying the calls.
karenbcz [10:42]: ANOTHER senior moment!
karenbcz [10:42]: LOL!
kotarah [10:42]: AAPL still getting slamed Damn I Phones
jolox [10:42]: Consistant
nester [10:42]: lol. put a note on your monitor stating CALLS
Andrew [10:43]: I'm sure there are still tons of people wanting to get in near 240ish
kotarah [10:43]: May entertain that thought ANDREW
Andrew [10:44]: out half ATPG no gain/loss
jolox [10:44]: Tonight SV Refresher webinar....8:00 pm est.
lindo [10:44]: might consider buying an August Call on aapl
Andrew [10:45]: added back to ATPG short 9.48
iswing64 [10:45]: Karen..one thing on daily faz k line stochastics in oversold range so there is hope for us...good luck
kotarah [10:45]: I will wait a little more LINDO
Andrew [10:46]: The financials have strong buy programs in them this morning.
kotarah [10:47]: Pick was up
karenbcz [10:48]: SWING - I only buy 3k shrs. of FAZ when I KNOW it's going up. And let me tell you ... we're so near the bottom, it ain't funny. So, don't worry. Be happy!
karenbcz [10:48]: roflmao!
Andrew [10:48]: What signs have you seen of the bottom in FAZ karen?
Hoecake [10:49]: Oh yea, I did get stopped out of my FAZ calls, oh well
karenbcz [10:49]: I use StockFetcher. StockFetcher doesn't lie!
jolox [10:49]: HomeBuilders moving up
Andrew [10:50]: Here come the buyers...
iswing64 [10:50]: 3k sharees!!! wow...where do you live??..lol
kotarah [10:51]: LINDO AAPL
Hoecake [10:51]: I use stockfetcher too, I think its a cool tool and the price is fair
nester [10:51]: ERX $27 calls $3.60
karenbcz [10:54]: Since I "forgot" to buy the FAZ calls, I think I'll buy some $OEX puts ... if they're cheap.
lindo [10:54]: watched value of apple calls go from 100 to 25 in 3 seconds. Swear
lindo [10:54]: now 150
Andrew [10:54]: Wow
nester [10:56]: SOMX down 10 cents now...
Andrew [10:56]: added to VVUS short 12.08
ortrade [10:56]: KEY 400@9.21p
lindo [10:57]: 350
kotarah [10:57]: C hod
ortrade [10:58]: SII 400@40.44p
Andrew [10:58]: short MBI 7.05 (triple position)
Andrew [10:59]: MBI has wonderful risk-reward short
Andrew [10:59]: added to MBI 7.02 (double position)
ortrade [11:00]: PDC 400@6.09p
kotarah [11:02]: Lindo 350 calls?
Andrew [11:02]: added to VVUS short 12.23
lindo [11:03]: no, profit of 350 on 240 calls. It was on paper. Opened up my live account and just can't quite do it. So fast
kotarah [11:04]: ok
Andrew [11:04]: out VVUS -1%
Andrew [11:05]: out FAZ -0.55%
Andrew [11:06]: long FAS 23.27 (triple position)
karenbcz [11:07]: holy smokes! TZA already reverse split! When does FAZ r/s?
Andrew [11:07]: out RDN -0.54%
kotarah [11:08]: SOMX not like yesterday NESTER
nester [11:09]: it's doing exactly what we thought it would do today.
Andrew [11:09]: short SOMX 3.16 (triple position)
kotarah [11:09]: PWAV 0.13 + shares short 12%
karenbcz [11:09]: wow! little fazzy is really going down the crapper isn't it?
Hoecake [11:10]: Fazzy = getting spanked
kotarah [11:10]: OREX continues up
kotarah [11:10]: OREX UP 19%
Andrew [11:11]: added to MBI short 7.09
Sandman [11:11]: Sold FAS Bought 7/12/10 @ $22.12 Sold 7/13/10 @ $23.26 $555.06==5.07%
nester [11:11]: great job Sandman
Andrew [11:11]: Nice one
Hoecake [11:11]: Nice Sandman
nester [11:12]: just noticed MS up 4%
Andrew [11:12]: Things have been pretty sideways this morning with the volume dropping.
Andrew [11:14]: added to SOMX short 3.18 (double position)
ortrade [11:14]: PQ 400@11.65p
Andrew [11:16]: out FAS tiny gain
ortrade [11:16]: TSO 400@11.65p
Sandman [11:16]: I lost $3037.49 made $555.06 so I have $2482.43 to go.
Andrew [11:16]: long FAZ 13.93 (triple position)
ortrade [11:16]: correction on PQ
karenbcz [11:17]: Nester, I guess it's not too late to nibble on some FAZ calls afterall. :>)
Andrew [11:17]: It doesn't feel like we're going to have any upwards momentum any time soon.
Andrew [11:17]: If we go up we'll probably just stair-step up.
ortrade [11:17]: PQ 400@6.79p
karenbcz [11:18]: Man! those Aug $14 calls are cheap as dirt!
nester [11:18]: Karen - i'm going to wait want to see where it thinks it wants to go
Andrew [11:19]: added to FAZ 13.96 (double position)
jolox [11:20]: Yankee's George Steinbrenner dies.....Boston closes schools.
fwguyus [11:22]: S taking a dive
fwguyus [11:23]: PWAV pulling up
jolox [11:24]: A little baseball humor goes no where here.
Andrew [11:24]: I don't get it
karenbcz [11:24]: Nester, with all the FAZ I just bought, there's really not point in my buying calls. :>(
Andrew [11:25]: Because he did a bad job with the team?
nester [11:25]: true...
karenbcz [11:25]: I can't believe i did that! I WISH I'd bought the calls.
nester [11:26]: jolox - was good just don't care about baseball. he did a great job with the yankees though
jolox [11:26]: Who are the Yankees biggest opponent......Boston Red Sox......NY became powerhouse under Steinbrenner control......have to explain everthing.
Andrew [11:26]: But why would Boston close schools?
nester [11:26]: lol... now that is funny
Andrew [11:27]: ???
nester [11:27]: to celebrate....
Andrew [11:27]: They used to close schools for celebrations?
kotarah [11:28]: Andew MBI vol was over 50 MA triggered 1 hour ago
jolox [11:28]: City of Boston soooooooo happy they declare holiday.....WOW !!
rw [11:28]: can not find a good trade - had to leave early....o well....
Andrew [11:28]: I don't think they close schools for stuff like that any more.
Andrew [11:28]: Thx for explaining though
kotarah [11:29]: If you have a stock that I see i will tell you when it goes avove 50 MA
Andrew [11:30]: Now usually schools are only closed for some kind of bad thing
LEECO [11:30]: been called away-lots on my plate-busy putting out fires-what's a good trade without too much capital-no drugs please
fwguyus [11:30]: BPI
kotarah [11:31]: Right now volume above the 50 MA ..PWAV MBI STXS
jolox [11:31]: Your quite welcome...Andy.....I'm glad I could spell you away from your....hamster in a wheel like trading activity.
fwguyus [11:31]: LSCC moving up nicely..
ortrade [11:31]: SII 400@40.44p
Andrew [11:32]: out FAZ -0.6%
kotarah [11:32]: Market
fwguyus [11:33]: VCLK on the move
Andrew [11:33]: added to MBI short 7.11 (double position)
kotarah [11:34]: Short interest MBI only 3.40%
fwguyus [11:34]: TLAB on the move
Andrew [11:35]: Where are you getting that from kotarah?
kotarah [11:35]: My programs
kotarah [11:37]: SBX +0.32 short interest 5.50%
Andrew [11:37]: Oh I see. 3.4 is just the short ratio.
Andrew [11:37]: out SOMX -1%
kotarah [11:37]: Yes
Andrew [11:37]: out ATPG -0.46%
Andrew [11:38]: The short interest in MBI as a % of its float though is very high (about 25% or so)
kotarah [11:39]: low ratio andrew'
lindo [11:41]: where do you find short interest?
fwguyus [11:42]: DEAR pulled back down...great long trade here..
Andrew [11:42]: Yahoo finance key stats...
fuseboxxx [11:42]: out paper VITA 1.88..+3.87%
Andrew [11:42]: http://finance.yahoo.com/q/ks?s=MBI+Key+Statistics
kotarah [11:42]: short interest Ratio on my program realtime
lindo [11:42]: thx
Andrew [11:43]: How can that be real time kotarah? I thought it was only reported every 2 weeks.
LEECO [11:43]: my 11:30 cry for help
kotarah [11:43]: Ratio changes in realtime along with volume MAs
Andrew [11:44]: I'm not sure Leeco. It might be dangerous to buy this high up. It's probably good to look to get in Oversold stocks, Breakouts, or Big Buy Volume ones on a pullback.
ortrade [11:44]: IB may provide the real time. Never found that very useful as like any other indicator it can reverse anytime.
kotarah [11:45]: all programed 10/20/50/100/200 along with short interest ratio and volume MA ANDREW
kotarah [11:46]: they are only indicators nothing more just use them as a guide
kotarah [11:47]: such the two stocks that poped up now are MNTA DDMXone up 10 MA other over 50 MA volume
Sandman [11:47]: 6 days now that FAZ has been down. How long can this last?
nester [11:48]: longer than you think...
nester [11:48]: could be another 6 days before it heads up
Andrew [11:48]: My guess is maybe around 20 days
Sandman [11:49]: I don't know why but I favor FAZ over FAS.
rw [11:49]: This rally may lasat a few weeks. things are over sold and short covering it is just a blip as usual
Andrew [11:49]: That probably won't happen though.
ortrade [11:49]: Exit PQ -28p
Sandman [11:49]: That's how I lost my money.
fwguyus [11:49]: pwav dear joez not in symbols db
Andrew [11:50]: In Feb.-Mar. FAZ was down about 20 out of 22 days.
nester [11:50]: looks like we will close above 10250, which will break the trend line. we could be starting another upswing
LEECO [11:50]: Thqanx Andrew
Andrew [11:51]: Then for another stretch in April FAZ was down about 16 out of 18 days.
rw [11:51]: hal long watcher may break soon if down trend stops
Andrew [11:51]: My point is you can't just assume that something will bounce just because it has been down for several days in a row.
fwguyus [11:51]: ooops joez in db
nester [11:51]: all i know is if FAZ does another split, i'm shorting the crap out of it
Andrew [11:52]: Why?
Andrew [11:52]: I still don't understand what a reverse split has to do with shorting unless its value artificially goes higher than it should.
Sandman [11:53]: nester do they anounce when their going to split?
nester [11:53]: seems everytime they split, the revert back to that same level
fwguyus [11:53]: VVUS on the move
Andrew [11:53]: It's just the way the market moved nester I think.
nester [11:53]: Sandman - they should give a heads up
fwguyus [11:53]: is anyone trading or they taking the day off
nester [11:54]: well, on both FAS/FAZ splits, they have both came back down into the teens.
Andrew [11:54]: out half MBI tiny gain
Andrew [11:54]: The pattern in SPY is complete on the daily chart so we possibly could have put in the high for today.
LEECO [11:55]: sandman -no preannounce on split-only tip-off is stockholders commun asking for split vote
Andrew [11:55]: Another possibility is we make one more fresh high before the sellers reappear.
Andrew [11:55]: I doubt we'll move too much higher than that though.
Andrew [11:55]: They do pre-announce.
kotarah [11:55]: Today?
Andrew [11:56]: Yeah, I'm just talking about today.
nester [11:56]: Leeco - last time FAZ split, i was notified via Ameritrade
kotarah [11:56]: I tink the market will go much higher ANDREW TODAY
nester [11:57]: it feels like it will.... +220 or so
kotarah [11:57]: agree
Andrew [11:57]: I was waiting to get some FAZ near 13.70 but missed it.
LEECO [11:57]: Paper trade 10 July 30 CHKP calls @ $2.25
jolox [11:57]: DCTH.....OVERSOLD on 10 min chart
rw [11:58]: forget HAL long
kotarah [11:58]: HT moving nice
rw [11:58]: leeco be sure the "delta" is very high 90 preferably
LEECO [11:59]: what is delta beside greek letter
fwguyus [11:59]: bpz taking a nose dive
Andrew [11:59]: added back to MBI short 7.05
jolox [12:00]: SOL...JBLU....oversold on 10 min
picker304 [12:00]: Welcome trials. There are many good traders here that can assist you however please do your own research by studying the tutorials and have a trade plan before following anyone’s trades. Many here can help guide you through the site. Feel free to request a private chat with online users. We are eager to assist you. Enjoy your visit and we hope you become a regular part of the family
fwguyus [12:00]: IVN pulling up all morning...
rw [12:01]: LEECO: delta is if the option or the rate the option moves in realtion to the stock if it is 20 the option moves aboout 20=% when the stock moves vIP
Andrew [12:01]: short VVUS 12.22 (triple position)
ortrade [12:01]: Exit PDC no gain/loss
rw [12:01]: a 90 delta moves about like the stock up or down in like manner a 20 or so is no good
LEECO [12:01]: rw-you m,ean the option price has to change by at least 90% of stocks' where is that infon available?
rw [12:02]: also 80% of options expoire worthless that is why better to sell them
ortrade [12:02]: Exit SII +30$p
picker304 [12:02]: Delta moves % of each dollar move of stock
fwguyus [12:02]: Did anyone catch CVLT earlier
rw [12:02]: a delta of 90 means the option moves like the stock
Hoecake [12:02]: If you have a delta of 20, then for every dollar that stock moves the option should move about.20
rw [12:02]: like shepherd picker said leeco----he knows options very well
picker304 [12:02]: ie .50 delta would move .50 for each dollar of stock move
LEECO [12:02]: Thanks
Hoecake [12:02]: the delta changes though with the closer or further you are from the option strike price
picker304 [12:03]: No RW still learning just studying books got alot to learn
rw [12:03]: deep in the money have much higher deltas but are better
LEECO [12:03]: i also loked it up in my TECHNICAL ANALYSIS FROM A TO Z
fwguyus [12:03]: Is S getting ready to take a nose dive...?
Hoecake [12:03]: And if I remember correctly Theta is the one that shows your time decay
rw [12:03]: theata, leeco is about decay........
Andrew [12:04]: long FAZ 13.85
rw [12:04]: you are very wise hoecake that is right on
Andrew [12:04]: tripled up on FAZ 13.86
Hoecake [12:04]: thx RW
rw [12:04]: hal may bhe about ready to go up
Hoecake [12:04]: your not to shabby yourself
jolox [12:04]: Leeco....if you pick an option with a delta over 90.....the premium and strike price will be close to the real stock price....your in the money.
rw [12:04]: HAL may be about
rw [12:05]: right jolox
rw [12:06]: forget Hal sorry
fwguyus [12:06]: CMCSK looks very nice
ortrade [12:06]: PDC 400@6.12p
fwguyus [12:06]: hal looks to me like it wants to take dive
nester [12:07]: US trade deficit widens to $42.3 billion in May
US trade deficit widens to $42.3 billion in May, largest gap in 18 months, as imports rise
ortrade [12:07]: SII 400@40.43p
jolox [12:07]: Leeco....on my options chains I HAVE TO SELECT....GREEKS...TO SEE DELTA FOR SPECIFIC OPTION
LEECO [12:08]: jolox I am using e-trade will liik and see
Andrew [12:08]: back short CENX 9.93 (triple position)
rw [12:08]: leeco before you use money on options be sure and read up and get the greeks down options are very tricky......remember that most expire worthless and everything besides DEEP IN THE MONEY exipres worthless
jolox [12:09]: If you select an option with delta greater than 90.....will usually be 1 or 2 dollars less than stock price and accordingly...cost more
kotarah [12:10]: that does not look good NESTER
fwguyus [12:12]: sol just broke down from suppport ...
nester [12:12]: "Very Toxic": All Bets Are Off If 'Jobless Recovery' Becomes True 'Double Dip', Catalano Says
http://finance.yahoo.com/tech-ticker/%22very-toxic%22-all-bets-are-off-if-'jobless-recovery'-becomes-true-'double-dip'-catalano-says-519277.html?tickers=%5EGPSC,EEM,%5EDJI,TBT,TLT,GLD,FXE&sec=topStories&pos=9&asset=&ccode=
fwguyus [12:12]: short sol 7.24
ortrade [12:12]: I had a question on option I asked some weeks earlier but none answered. For options can you make money with under 50% good picks?
LEECO [12:13]: rw- A.
nester [12:13]: ortrade - that all depends on when you cut bait on the other 50%. you can, yes if managed correctly
ortrade [12:14]: you mean buy both put and call on same stock..
fwguyus [12:14]: isnt that called a straddle?
lindo [12:15]: One thing about options that I'm learning is that if they get weird, you can roll them forward. I sold a put on GS in April and pocketed 1890. It would have obligated me to buy GS at 165 this month. I was not about to do that. I rolled it over to January and pocketed another 450. Of course, In Jan, I'll have to deal with it.
picker304 [12:15]: If you have the cash you can make good income on neutral delta trading ortrade but thats my problem LOL
nester [12:15]: no. i mean that you don't let your losers run. if you exit well and let your winners run, then you can
picker304 [12:16]: Jolox probably knows more about that. the key is keep the delta at 0 between your call and put.
ortrade [12:17]: nester if its not straddle (which in this context sounds analogy to pair trading) that sounds in a way like managing trade with stop loss.
moby [12:17]: yeah jolox welcome back, learning alot
Hoecake [12:17]: Didnt someone have a straddle on AA for earnings? How did it turn out?
nester [12:18]: yes. unless i misunderstood your question. a 50% winning record you can make money with. keep a good trading plan and follow it
Hoecake [12:19]: I could have swore I saw someone post yesterday that they were doing a straddle on AA...maybe I was wrong
Hoecake [12:20]: or they are not hear, I was curious to hear how it turned out
ortrade [12:20]: For stock with good stop loss I believe a percent larger then 60% is required to break even. If for options a smaller precent would work that would be an advantage of options on stock trading..
jolox [12:21]: Here's Gars philosphy on options.....buy in the money....delta > 90 makes sense.....hold for only 5-6 days...be in the money the 1st or second day......anything else....odds...for most part...against you.....add stop limit....8-10%
Hoecake [12:21]: Alright I am out, have to go on a couple appointments, will try to be back before close GLTA...
nester [12:22]: yes, but both will not work if you do not follow your trading plan
jolox [12:23]: You said the magic word.....duck with cigar falls......TRADING PLAN
jolox [12:25]: TRADING PLAN +MONEY MNGT = WINNING EDGE
fwguyus [12:25]: long LSI 500s 4.95
ortrade [12:26]: At some trading academy hear once a seminar with an interesting pitch. Lets say you enter some stocks. If you have stop losses and you are around 55% right, you cut off the losers with the small gainers. What is left? Only the big gainers! not obvious but this argument is faulty at its core..
Andrew [12:27]: I think I've made that argument before ortrade. What's wrong with it?
jolox [12:28]: All you need is 50.00001% TO BE WINNER
LEECO [12:28]: WOW-I found the "greeks" on E trade ste & delta for CHKP july 30's (just in the monet-Stock at 31.14) is 0.999
LEECO [12:29]: Stock at 32.14
jolox [12:29]: ALL OPTIONS FOR JULY SHOULD HAVE HIGH DELTA'S.....EXP IN 3 DAYS
jolox [12:31]: Leeco...what is spread....amount between BID/ASK ??
ortrade [12:31]: In sideways market which take 2/3 of the time the change of hitting a big gainer is close to 0. It is easy to see. just count in a sideways day the number of gainers/losers over 5% and divide by the total number of stocks. In sideways (headfake day) entries are flawed and most of them hit the stop loss. That is large losses that add up 2/3 of the time in particular when coupled with trader emotions ready to recoup losses and the fact that most sideways market donot have a clear range.
ortrade [12:31]: meant the chance of hitting a big gainer.
ortrade [12:32]: you can count the number of gainers/losers from stockvision directly.
Andrew [12:32]: But at the same time you need to take smaller losses if smaller gains aren't looking as likely.
Andrew [12:33]: On an annoying narrow range day in Dec. 2008 for example I had a pretty good day taking profits at +0.75% and losses at -0.35%. Pretty silly but the numbers still worked out.
Andrew [12:34]: For 12:32 I meant if larger gains aren't looking as likely.
fwguyus [12:34]: long on LSI 1000s
ortrade [12:34]: Trader set stop loss from ATR or some fixed loss. In sideways market without range the ATR changes every few ticks. Each time it increases stop loss is hit.
fwguyus [12:34]: 4.95
Andrew [12:34]: For sideways days you need to adjust your entry strategy to play the range more rather than buying new highs or shorting new lows.
jolox [12:36]: Leeco the spreads your looking at are between 20 and 80 cents.....toooo big for me.....why start at .20 in hole ??
ortrade [12:36]: It is not easy for most traders to estimate if the market from now on will trend or go sideways. What you are saying will work without problem only if your assumption of what the market will do from now on is correct. The losses in sideways market are from assuming the market will trend one way or another.
Andrew [12:37]: You can often find individual stocks that aren't moving sideways even on the sideways days though, so that will help your win %.
LEECO [12:38]: paperout CHKP calls-no profit only loss would have been commissions-going to Aug calls nowon paper
karenbcz [12:38]: Hey people! I just heard GS reports earnings on 7/20. That would be a good SHORT!
fwguyus [12:38]: does goes S
ortrade [12:38]: The other portion of losses which is smaller will be from guessing the sideways market correctly but not being able to guess the range as the pullbacks can be rather random.
Andrew [12:39]: If you have a 40% win % on sideways days and a 60% win percentage on trending days, you should still be in good shape if your profit-targets vs. stops is sound.
ortrade [12:40]: The chance of picking winners in sideways market is statistically very low around 0.1%.
LEECO [12:40]: Paper Aug 30 calls CHKP 10 @ $2.60 delta 0.857
Andrew [12:40]: If it's that low then you need to find better entries to increase your win % closer to 40% or so.
Andrew [12:40]: Or step away and not trade as much on days when your winning % has been pretty low.
Andrew [12:41]: And then trade a ton on days when your win % is very high.
ortrade [12:41]: I believe the 40% win sideways is representative of sideways losses only if you guessed correctly that market will be sideways from now on.
nester [12:42]: jolox - when you see large spreads, place you buy somewhere in the middle... preferrably on the lower end. they get picked up also
jolox [12:43]: Nester ...I have done that......they just adjust the spread accordingly
Andrew [12:44]: added to FAZ 13.80 (double position)
Andrew [12:45]: added to CENX short 9.96 (double position)
jolox [12:46]: You have to plan your buys......HOG opened down yesterday.....it went down over 40pts....if I would of bought at bottom.....be up 100 today
jolox [12:48]: IF......IF WAS A HORSE.....WE WOULD ALL GET A RIDE !!
nester [12:48]: glad u'r HOG is working out. looked to me like a dying pig
ortrade [12:48]: Andrew, your phrasing phrasing. "trade a ton on days when win % is very high". I belive you meant "trade a ton on days when, till the decision entry time, the win% is very high". Note this assumes market PERSISTANCE. I have seen too many time when market reversed or it turned sideways and did not PERSIST in the direction of past performance.
fwguyus [12:48]: l JOEZ 1000S 2.15
fwguyus [12:48]: OUT LSI 1% GAIN....
Andrew [12:49]: Right I agree ortrade.
Andrew [12:50]: You can also use the VIX as a guide to see how big your winners could be.
Andrew [12:50]: You will be wrong a lot about whether sideways or not, or persist or not, but you should still be in good enough shape.
fwguyus [12:51]: added LSCC L 5.39
jolox [12:51]: fwguyus......JOEZ.....just showed up on my RSI2 LESS 10 SCAN ON 10 MIN CHART....alot of nice small stocks on it on pullbacks
Andrew [12:52]: Another tactic can be to have a macro level stop loss too equal to about half your avg. good winning day.
Andrew [12:52]: So then on those horrible days you still don't lose too much.
ortrade [12:52]: Any indicator of market direction suffers from the following: TRADING IN DIRECTION OF PAST PERFORMANCE ASSUMES PERSISTENCE. TRADING AGAINST THAT ASSUMES REVERSAL. If it is VIX or whatever you are using..
Andrew [12:54]: I don't mean using VIX as an indicator per se. And you don't really even need to trade based on indicators at all on certain days besides just looking at price candles.
jolox [12:54]: Nester...I had a feeling about HOG that you po poed......did you mean HOGS ??
nester [12:55]: short VVUS 12.05
ortrade [12:55]: Stop loss should be derived somehow from market behavior but you can decide on number of trades not to exceeed half or prev day gain. Than assumes that you can keep trading as long as your gains accumulate.
rw [12:55]: walked away from HAL at 27.95 to have soup missed it....You can not take eyes off stocks you are wataching same yesterday for JCP
Andrew [12:55]: When in doubt, just look for areas of potential support and resistance, scale in, take somewhat small profits (maybe just +1%). This will work on sideways days pretty well and will also work on non-sideways days a lot too.
nester [12:56]: when you emailed that to me i thought you lost your mind...
rw [12:57]: lots of big buys on VVUS per level 111 nester
jolox [12:57]: I TOLD you earnings pop......it's summertime weather nice....Softails all over the place.....etc
rw [12:58]: sorry it leveled oout Nester.... not negative or positive
nester [12:58]: chart looks like a waterfall right now... got to short it
rw [12:58]: i understand Nester - I may do same
Andrew [12:58]: VVUS is short-term pretty oversold but it failed to hold above its VWAP for long.
rw [12:58]: Mr. Nester: What time frame chart do you follow after you short something or buy long please?
nester [12:59]: jolox - i know... i'm just in "major bear" mode
jolox [12:59]: yes....RSI2 ABOVE 96....AT 98.......OVERBOUGHT
nester [12:59]: daily, 5 min charts... bounce between 60, 30 & 15 to confirm my 5 min
Andrew [13:00]: out 1/3rd VVUS +1.8%
rw [13:01]: Thanks Mr. Nester.
rw [13:01]: i start with daily if stock makes it there then I go to 60 minute then 5 minute
Andrew [13:01]: Then the shorts start piling in once it goes near lows.
nester [13:02]: what i normally do is set up my charts for the next day with evening research. have longs and shorts picked on sideways markets. then i switch back and forth on daily timeframes
nester [13:03]: since we are/were downtrending, i have 17 charts up, all shorts
rw [13:04]: thanks Mr.Nester.....I appreciate comments on trading strategies.
jolox [13:05]: Just looked at HOG....don't short now
nester [13:05]: out VVUS -0.4%
jolox [13:05]: it may bounce off 20ma.....if so short
nester [13:06]: hate these bulls...
Andrew [13:06]: added back to VVUS short 12.12
turbo911 [13:06]: Did my dd last night and decided to short IFLG first thing this a.m. only to find no shares were available to short. I didn't include that in my dd. Then for some unexplainable reason I go long at $5.80 and I'm getting hammered. Lesson learned! Is there a good site to find out how many shares are available to short for any particular stock?
Andrew [13:07]: It depends on your broker turbo911. Who is your broker?
turbo911 [13:07]: Scottrade
nester [13:08]: if there are no shorts available, look into purchasing puts on it
ortrade [13:08]: DRQ 400@49p
turbo911 [13:08]: Aha, what an idiot!
Sandman [13:08]: nester I'm going in FAZ when the chart tells me.
jolox [13:08]: Nester if HOG breaks under 24.73.....short it
nester [13:08]: let me know. starting to look interesting
Andrew [13:09]: Scottrade used to have Penson Financial as its clearing firm. I'm not sure if they still do. If so, you can look up their 'eay to borrow list' here... http://www.mbtrading.com/easyToBorrow.asp
Sandman [13:09]: did you try it?
Andrew [13:09]: 'easy to borrow'
nester [13:09]: jolox - i will have to research it again
turbo911 [13:09]: Thank you Andrew! I'll check it out.
nester [13:09]: not yet Sandman.
Andrew [13:10]: added to VVUS short 12.17
Sandman [13:10]: Let me know what you think after you try it. O.K.
jolox [13:11]: Support for last two bars on 5 min at 24.73.....now 24.76
jolox [13:11]: it's going
Andrew [13:12]: Pretty sloppy market today
nester [13:12]: no problem have to learn it a little though
ortrade [13:12]: Exit FAZ +480p
turbo911 [13:13]: Andrew ..... that site told me none were available. Wish I asked earlier. Thanks again!
Andrew [13:14]: If you really want to short something you can phone Scottrade and ask to 'locate and reserve shares' of it for the day.
Andrew [13:14]: They then will see if they can locate the shares for you to sell short and might ask if you are willing to pay $0.xx/share extra to do so.
ortrade [13:14]: Exit SII -60p
jolox [13:15]: RSI2 for oversold/overbought.....good indicator on any time frame....good for buying options off.....backtests to one of highest percentages
moby [13:16]: jolox: you from SF?
Andrew [13:17]: Something like IFLG has a very low float so is probably very expensive to reserve shares to short (probably something like $0.03/share extra).
ortrade [13:18]: Exit DRQ -115p
Andrew [13:19]: out 1/5th FAZ +1%
karenbcz [13:22]: Hey guys! the GS Aug $140 puts are already moving UP!!!
Andrew [13:25]: Did you get them?
madriver [13:28]: listening to CNBC in car while traveling...you would think we are in a full blown rally.......2 days ago it was double dip.
Andrew [13:29]: It's a very impressive rally but so was the one from 6/8 to 6/21.
madriver [13:29]: short covering after last week is alot of it
madriver [13:30]: some of it...probably not alot
madriver [13:30]: that's what I learned from CNBC anyway
Andrew [13:30]: Yeah sounds reasonable
Andrew [13:31]: Shorts usually don't cover though until they detect some actual buying pressure down below.
nester [13:32]: options expire in three more trading days... could run up abit more just to crush those short
Andrew [13:32]: added back to FAZ 13.92
madriver [13:32]: probably ...buying last week all be it weak
madriver [13:33]: well if you have a lot of the shorts pulled maybe some room to move north?
Andrew [13:35]: added back to VVUS short 12.05
jolox [13:36]: The market up turn was related to short covering in all mkts concerning the Euro related trades.....AA results have refueled the world mkts
madriver [13:36]: andrew...did you see IFLG today....lunar short would of been a nice setup!
Andrew [13:37]: I haven't looked it it yet.
moby [13:37]: where is Gar's list of stocks he likes for trading options
Andrew [13:37]: Wow, much lower
Andrew [13:37]: The Best For Options bull screen
moby [13:37]: anyone have a link, I know it's somewhere on his site, it's a .txt file
jolox [13:37]: look under stocks
madriver [13:37]: yeah...the would of been a nice short to hold onto...high risk though
nester [13:37]: moby - i thought he said it was on his website
Andrew [13:37]: Yeah very high risk
moby [13:38]: I'm looking there
madriver [13:38]: andrew...I have it on paper to see what would of happen....up $900....in at 6.21
moby [13:39]: okay jolox you mean to just scan for his best for options filter?
Andrew [13:40]: He mentions some in the ebook too.
jolox [13:40]: go to STOCKS.....THAN LIST SELECTIONS......UNDER EXPORT...TYPE IN OPTIONS.TXT...HIT SAVE
jolox [13:41]: MOBY....CHAT ME AGAIN......WE'LL CUT AND PASTE
madriver [13:42]: what a guy jolox!
ortrade [13:43]: we seem to be in some sort of large sideways. Sadly at 1.10 that large market pullback candle took half of my FAZ gains I have been holding till close to open (almost 1000$p)
madriver [13:43]: the oversold from yesterday worked today simg was oversold now up over 7%
ortrade [13:44]: the approx +1000$p was before that candlestick.
Andrew [13:45]: Anyone else think the sellers might smash the market this afternoon?
picker304 [13:46]: Me do Andrew
picker304 [13:48]: Me hope anyway Andrew LOL
ortrade [13:48]: Not letting what I want market to do I dont see now an indication to either way..
Andrew [13:49]: I'm looking primarily at the multiple failures above 109.70 in SPY.
madriver [13:49]: do you think there is significant institutional buying here?
madriver [13:50]: depends what you mean by smash........+100 or better is my guess
nester [13:51]: i don't think the sellers will smash the market, though i do think they will let the bulls know they are still there. expect a 50point drop and then let them run it back up... close strong then crush them later
Andrew [13:51]: It's decent buying I guess but volume not all that great still.
Andrew [13:51]: By smash I was thinking more in terms of us closing closer to +50 than +150.
ortrade [13:52]: There is MA's congestion and turning in SPY. That is natural once price drops below 20MA on 5min. The wiggle between 20 and 40MA is typivcal indicative of sideways..
jolox [13:52]: Oh.....nester......I get so...so tingly.....when you describe the mkt action......
nester [13:53]: glad i can help...
picker304 [13:53]: lol
nester [13:53]: can you tell i'm a bit bearish still?
Andrew [13:53]: Previously we haven't held below the daily VWAP for too long so the next 15-20 minutes or so might be telling.
madriver [13:55]: if knight were here he could tell us the market direction unfortunately he is not
jolox [13:55]: HOG coming off 50ma.....it will be up again tomorrow!
jolox [13:56]: I will be your......KNIGHT.....mad!!
madriver [13:58]: ok....hope it's better advice although he nailed this "rally"
Andrew [13:58]: OUT VVUS -0.54%
jolox [13:58]: I would of said "KNIGHT IN SHINNING ARMOR ".......Carr told me to keep it down !!
picker304 [13:58]: jolox just be a good guy please you're too good not to be I see no insecurities thats good my friend and thx for your help
Andrew [13:58]: out MBI -0.57%
jolox [13:59]: I'm a "pickin and grinin "
rw [14:00]: I doubt if he will be back.
picker304 [14:00]: Hey I pick and grin too, My profession LOL
madriver [14:00]: picker...what do you do?
Andrew [14:01]: added to FAZ 13.95
picker304 [14:01]: Studio producer but mainly guitar teacher for 30 years
picker304 [14:01]: Wanna retire wanna trade stocks wanna wanna
madriver [14:01]: i remember you saying something about teaching before but did not know what....
jolox [14:01]: Les Paul.......not
picker304 [14:02]: Great player great gt.
madriver [14:02]: is eric clayton a great player?
jolox [14:03]: yes....great inventer
picker304 [14:03]: hmm? Very good writer and very good blues techniches
picker304 [14:03]: And as jolox said a staple
jolox [14:03]: married to Mary Ford
picker304 [14:04]: When did you marry Mary Ford? LOL
picker304 [14:04]: Yankin your chain
jolox [14:04]: Better than Chet Adkins ?
madriver [14:05]: who's chet adkins?
madriver [14:05]: diet guy?
jolox [14:05]: Roy Clarke on Mandolin
picker304 [14:05]: Hard ? Chet smoothest player ever on earth Les paul was very aggressive
picker304 [14:06]: Mad haven't you heard my SV demo? I don't have a link or I'd let you hear it?
picker304 [14:06]: Gar has it
madriver [14:06]: today....who is a great player? Not some oldster....someone younger
jolox [14:07]: I heard it.....didn't want to embarass you !
picker304 [14:07]: Bet they both are leader of the band up there don't you think jolox
picker304 [14:07]: How young?
madriver [14:07]: 15-45.
madriver [14:08]: or even 50
jolox [14:08]: Segovia
picker304 [14:08]: Don't think there are any to compare. They have no theory background these days and don't play from the heart but for the buck
nester [14:08]: Johnny Lang
madriver [14:08]: come on picker....there has to be
picker304 [14:09]: Greatest 92 yr old gt player ever amazing
Hoecake [14:09]: Ok back
picker304 [14:09]: Let me think?
picker304 [14:09]: Does Van Halen count?
madriver [14:09]: slash?
picker304 [14:10]: You must understand I look at different that you guys
picker304 [14:10]: Don't wanna make anyone mad LOL
picker304 [14:10]: Slash sorry knows 10 chords and 2 scales
madriver [14:11]: we need someone from a younger generation...got to be someone out there
LEECO [14:11]: I like Glenn Miller ( I was a Capt w/him at Yale in 1943) and of today's Acker Bilk
picker304 [14:11]: Of course Leeco from the heart
Andrew [14:11]: Slash is amazing
fwguyus [14:11]: time to short C....
madriver [14:12]: picker...I need a guitar hero from a younger generation
Andrew [14:12]: Maybe he's just really good at those 10 chords though.
picker304 [14:12]: With all due respect To the untrained ear yes
Andrew [14:13]: What do you think of Joe Perry?
madriver [14:13]: i'm glad I have untrained ears.....because most music would suck then!!!
picker304 [14:13]: Thats just it Mad I don't even keep up with them just hear them as I transcribe their songs for my students
picker304 [14:13]: Joe perry as a performer first class singer/writer
madriver [14:14]: Lady Gaga
picker304 [14:14]: I transcribe their stuff in minutes. So easy as it has taken me hours to transcribe a chet or halen piece
ortrade [14:15]: market not moving again.. must be the FOMC tomorrow..
madriver [14:16]: anyone know the story on BPZ other than some analyst downgrade...it's getting hammered
Andrew [14:19]: Here's the story... http://www.marketwatch.com/story/bpz-energy-provides-block-z-1-operations-update-2010-07-13
madriver [14:21]: thx a
Andrew [14:22]: back short VVUS 12.63 (triple position)
rw [14:22]: Re: FAS FAZ: JPM and BAC are 18% of the etf WFC is 8%.....If you watch these three the etf move somewhat very close - kinda like watching three prices
picker304 [14:24]: Mad how about John Mayer thought I'd better find you one so you won't be angry with me
ortrade [14:24]: FAZ 5min chart starting looking like the athlete foot chart from yesterday..
madriver [14:24]: picker....don't get mad about stuff like that.
madriver [14:25]: John Mayer...hmmm interesting pick....I like his music for the most part
fwguyus [14:25]: i wish gar would add some sort of financial radio to this software? lol
rw [14:26]: fas going up from here for a bit per those charts i am watching 23.41 now.
picker304 [14:26]: John (technically) is IMO the greatest player in last hmm 10 years
madriver [14:27]: commentator on CNBC said george steinbreinners death was a tragedy....well outlived his life expectancy for a male of 75.6 years of age so i don't get the tragedy part.....
moby [14:27]: Matchbox 20 Mark Thomas
ortrade [14:27]: Exit TSO +100$p
madriver [14:27]: thx pick...good to know
rw [14:27]: my charts were wrong.....scratch that. fas that is
picker304 [14:27]: Yes Moby
moby [14:27]: dude's voice is totally underrated
kotarah [14:27]: Hey moby
moby [14:28]: hi kotarah, watching from the sound lines, wishing I was you
moby [14:28]: side*
kotarah [14:28]: No I just got back
moby [14:28]: you watch Spain win?
kotarah [14:28]: how are you hope fine hows the jerky?
moby [14:29]: working on more as we speak
Andrew [14:29]: added to VVUS short 12.50
moby [14:29]: I thought the ref sucked
kotarah [14:29]: The octopus picked all world matches that one to I liked holland
carr [14:29]: moby send some my way when it is ready
picker304 [14:29]: Many voices overatted today
moby [14:29]: wayyyyy too many calls
carr [14:30]: picker are you hearing voices now?
kotarah [14:30]: Yes alot of issues with REFs
moby [14:30]: carr I just might, have an HP favor to ask you at a later date
moby [14:30]: Brazil will be set upo to challenge goals and offsides
carr [14:30]: Don't work there any more but still know a lot of people pick
moby [14:30]: I can haredly wait
picker304 [14:31]: all my life carr lol
kotarah [14:31]: It wont matter now
moby [14:32]: so it doesn't ruin the game worse
moby [14:32]: last 3 world cups hard for me to watch
kotarah [14:32]: You have a world cup winner and they need to send some of the refs to school
ortrade [14:33]: tired of this sideway market..
Andrew [14:33]: short ATPG (triple position)
moby [14:33]: or atleast have the option to challenge certain calls like in the NFL]
Andrew [14:33]: 9.74
kotarah [14:33]: NEXM
moby [14:33]: and ref school would be good
moby [14:33]: later all , back to the salt mines
kotarah [14:33]: NESTER
iswing64 [14:34]: Hey carr..how did you make out on your crus calls?
nester [14:34]: yes
kotarah [14:34]: SQNM
kotarah [14:34]: NEXM flying
kotarah [14:34]: sorry NEXMD
nester [14:35]: SQNM doing well. i grabbed ERX long
nester [14:35]: SOMX is a dog... still at 3.16
kotarah [14:35]: 9.3%
kotarah [14:36]: you did not say that yesterday
picker304 [14:36]: Well looks like the train might be headed north
nester [14:36]: i know. it is a daily ticker.
kotarah [14:36]: What train Pick
nester [14:37]: it did exactly what we said before the market opened...
picker304 [14:37]: The money train kot
kotarah [14:37]: Im in along with NESTER
nester [14:37]: i'm out of all my shorts... ERX long is all i have now
ortrade [14:38]: doesnt look like market is going anywhere anytime soon..
lindo [14:38]: amen to that
Treacherous_Cretin [14:38]: hello people
kotarah [14:38]: Hey TC
nester [14:38]: hey TC
Treacherous_Cretin [14:38]: silly market today
lindo [14:39]: TC hello
Andrew [14:39]: added to ATPG short 9.86
madriver [14:39]: those holding PEIX got some good news...down 14% today.
madriver [14:39]: if you're short
jolox [14:39]: Leeco......Acker Bilk ?? Stranger on the Shore...1963-64......BOY.....am I old!!
Treacherous_Cretin [14:39]: two earnings news darlings not enjoying the rally they spurred
Treacherous_Cretin [14:40]: CSX is red and AA barely up
Andrew [14:40]: added to ATPG short 9.83
Treacherous_Cretin [14:40]: pretty silly to think a $30 million marginal "beat" in Alcoa Net Income is sufficient to push hundreds of billions in global market capitalization higher...LOL
madriver [14:41]: was it that or Greece's successful bond offer???
kotarah [14:41]: this is setting up for a fall but not today
madriver [14:42]: TC....probably upbeat going further drove the market more than earnings
nester [14:42]: one more day up, then start to fall for Friday...
kotarah [14:42]: thats what I say as well
nester [14:43]: scary...
Treacherous_Cretin [14:44]: guess I don't care. Just sad to see people get sucked in to a crap rally
madriver [14:44]: nester...why down?
Andrew [14:44]: added to FAZ 13.79 (double position)
madriver [14:45]: andrew.....how does faz at this point have a good RR?
nester [14:46]: mad - this rally is bogus. no reason for it to run up this much. we will fall. maybe it is the bear in me that is saying it
Andrew [14:46]: The volume agrees with you nester, but volume doesn't pay. Only price pays.
madriver [14:47]: u r probably right because CNBC was gitty bullish........
Andrew [14:47]: Good risk-reward b/c of all the failures today above SPY 107.00.
ortrade [14:47]: vol on FAZ increase on the downside now.
Treacherous_Cretin [14:47]: liquidity pump is running and that is scorching the shorts who "think" they are right
Sandman [14:48]: nester I'm ready for when it falls.
nester [14:48]: Andrew - i'm long right now because the market is long. just ready to bail and run down with them when it does turn
moby [14:48]: bogus or not, the fact is this bogus rally has benn bogus for close 800 pts since 9600
madriver [14:48]: the volume leads me to believe it's not falling....
ortrade [14:50]: FAZ seems to want to probe todays low.
madriver [14:50]: and knight had it right all you bears!!!!!!!ha
nester [14:50]: mad - volume is horrible. when it picks up, we will head down
fwguyus [14:50]: vclk running
madriver [14:50]: nestea....that what I said or meant to say
madriver [14:51]: no volume no down
ortrade [14:51]: TSO 400@11.96p
picker304 [14:51]: I agree Mad but just because knight said it doesn't mean he caused it LOL
madriver [14:51]: knight had a MM in his backyard....you didn't know that?
Andrew [14:52]: I'd still much rather be short at these levels than long in terms of risk/reward, but not looking too good for shorts at the moment.
ortrade [14:52]: FAZ just broadened its range typicall in sideways markets
picker304 [14:52]: I also said it but just a lucky guess hey you got a 50% chance of being right if you don't count sideways
Andrew [14:55]: out VVUS +1.6%
madriver [14:55]: knight was always right because he ignores his losers therefore he is 100% right in his world anyway.....not a bad guy....kind of liked some of the things he said. instigator for sure. andrew and knight got along well
ortrade [14:55]: In the stock market just generating a volatility slightly wider then your stop loss will make you 100% wrong within your stop loss range. That is the purpose of volatility in harvesting the traders skin to tatoo..
fwguyus [14:56]: PWAV not in the symbols db
Andrew [14:56]: The market doesn't like people to be able to risk a little bit to make a lot. It wants you to have to risk a lot too.
Treacherous_Cretin [14:56]: be well people
Treacherous_Cretin [14:56]: bye
madriver [14:57]: later tc
picker304 [14:57]: Cya TC take care friend
Andrew [14:57]: The db only includes stocks above $1 that trade a minimum amount of avg. volume (I think about 400,000 shares or so).
ortrade [14:57]: Market will make a sideways into a trend only when it harvested the holders in that price range. On the side without weak hand holders it will move the market. Important to understand..
fwguyus [14:58]: good advise ortrade
Andrew [14:58]: I think PWAV should meet those requirements though.
Andrew [14:58]: Maybe Gar can add it.
picker304 [15:00]: Well we should know within 30-40 minutes, don't you think?
madriver [15:00]: ortrade I think I understand what you're saying but the last part .....
ortrade [15:00]: tnx, guy.. hm.. another rally leg down staging.. dont buy into it yet..
ortrade [15:00]: you, mean the jk part..
madriver [15:01]: no sounds like you're saying the market will move sideways into a reversal once it's taken money from weak hands
madriver [15:01]: ?
Andrew [15:02]: out CENX -0.7%
picker304 [15:02]: Hey forrest ol friend great to see you here hey carr its forrest
Andrew [15:02]: out ATPG -1.5%
ortrade [15:02]: the sentence for of last part is from starwars.. you have to be on the right side of the force to get that jk..
Andrew [15:03]: added to FAZ 13.70 (double position)
madriver [15:03]: ok...no starwars here!!! Beam me up
picker304 [15:04]: I'm riding on that north bound train
forrestww [15:04]: hey picker have have you been
picker304 [15:05]: just fine how about you its great to have you back
forrestww [15:05]: how have you been
Sandman [15:06]: madriver Beam FAZ up.
picker304 [15:06]: Forrest will you be at the webinar tonight?
madriver [15:06]: wish I could!!!
forrestww [15:07]: i have to watch out for carr though, right carr
kotarah [15:07]: SYMC price Xing 50 MA
madriver [15:07]: what webinar...here?
ortrade [15:07]: Exit KEG +120$p
forrestww [15:08]: yes will be the webinar need to learn as much as i can
picker304 [15:08]: thats great
kotarah [15:08]: Ill go to
carr [15:09]: hey forrestww, don't touch that coffe, or since it after noon bourbon :-)
madriver [15:09]: Faz must be moving against you in a big way?
forrestww [15:10]: you don't give up do you LOL
picker304 [15:10]: I think it might be a saleout at the moment but I think we all will get our chance at it
nester [15:10]: forrest - you know carr and pick? and i had such high hopes for you...
kotarah [15:11]: You mean sell out ?
picker304 [15:11]: I love you Nester
carr [15:11]: LOL
forrestww [15:11]: sorry nester they kinda grow on you
jim [15:11]: good morning I am a little late today
kotarah [15:12]: Afternoon JIM
carr [15:12]: hey jim, you are a lot late today.
picker304 [15:12]: LOL sorry Yes kot I think 60 is limit but like I say think they'll be a rain check
jim [15:12]: forrest your in troble
jim [15:12]: trouble
nester [15:12]: morning jim - premarket is done...
carr [15:12]: and you missed out on all the action in pre
picker304 [15:12]: Jim I'll always love you no matter what
jim [15:12]: in the air all day am on the east coast now
kotarah [15:12]: Ok wont go
forrestww [15:13]: story of my life jim smile!!
Hoecake [15:13]: How low will Fazzy go, How low will fazzy go... ( singing to a beat )
carr [15:13]: well you are here with us, and that is all that matters Jim
carr [15:15]: Wait for it forrest, when you least expect it:-)
madriver [15:15]: faz going to toilet today to be revived thursday or friday
LEECO [15:15]: I want to be at the webinar tonite at 8:00 PM what do I have to do to attend
picker304 [15:15]: I sure hope so Mad thats my plan anyway
forrestww [15:15]: i hope i can learn how to pick those options you guys are daytrading
carr [15:15]: Leeco, send me $1000 and I'll get you a seat
nester [15:16]: lol...
madriver [15:16]: lol
madriver [15:16]: isn't that past your bed time leeco?
jolox [15:16]: go to garsworld and register
picker304 [15:16]: To all who will miss the webinar tonight due to sellout Don't worry Gar will not lleave us out we just have to wait our turn thats all
madriver [15:16]: jk
madriver [15:17]: jolox...any more interesting maps?
LEECO [15:17]: I would if I could but you know about my retirement paying Co. going Chapt 11-they are not dispensing $
carr [15:17]: I will take a IOU Leeco
picker304 [15:17]: Leeco my option is down 11- you wanna buy it from me?
Andrew [15:17]: added to FAZ 13.70 (double position)
madriver [15:17]: leeco....hang in there....you'll be okay
howie78 [19:17]: long faz
LEECO [15:18]: jolox-At my age the only reason to go to bed isto sleep-so it is not passed mybedtime
picker304 [15:18]: LOL
Hoecake [15:18]: If fazzy gets slammed down super hard as in almost a lunar I might have to jump in expecially if I can get FAZ aug 14 calls for under 1.45 each
picker304 [15:19]: Leeco I am 52 and thats the only reason I go to bed dear friend
madriver [15:19]: faz is going to 13.45
Andrew [15:19]: That's pretty precise :)
LEECO [15:19]: I bought the E-book-so I'll sit in front of the monitor &read IT
nester [15:19]: howie - where did you get in FAZ at?
kotarah [15:19]: For you NESTER Shares of biotech Sequenom (SQNM), which is developing non-invasive tests for Down Syndrome, among other efforts, are up 9 cents, or 1.6%, at $5.75, reversing a loss of nearly 2%, pre-market, as investors await the presentation today by Dennis Lo, the company’s science advisor, in Amsterdam at the International Society for Prenatal Diagnostics.
Dr. Lo’s presentation has been eagerly anticipated as providing clues about the company’s trial results in testing its Down Syndrome test.
madriver [15:19]: I think people are going to hold on atleast today
Andrew [15:20]: FAZ is high-risk today
howie78 [19:20]: 13.71..nester..
madriver [15:20]: precise guess:)
Andrew [15:20]: Near 13.70 though lower risk.
picker304 [15:20]: I was hoping for a gap down but with this spike I'd have to have a couple. ain't gonna happen I don't think
forrestww [15:20]: leeco have a stiff shot of bourbon and forget about it LOL
jim [15:21]: we may be in a summer rally
carr [15:22]: forrest I am watching you :-)
LEECO [15:22]: I will not be with you tomorrow AM I will be taking a chelation treatment from 08:30 till noon-it is a maintenance preventative to keep arteries flexible and open-a drip veinus infusion of EDTA with Vit B added.
madriver [15:23]: wow leeco that is alot of info....chelation to remove heavy metals?
madriver [15:23]: minerals
rw [15:23]: Leeco: Do they exchange out blood on the chealton - I have thought of it....
carr [15:23]: Maintenance is good Leeco I wish you well and hope to see you in the PM
kotarah [15:24]: Vivus target raised to $18 from $15 at Brean Murray following briefing documents; firm concludes that Qnexa will be recommended for approval given the extent of obesity in the U.S. (12.53 +1.88)
picker304 [15:24]: wish you the best Leeco
LEECO [15:24]: Be back in the afernoon-save some ggod trade advice for me-to make $ not being rcvd from CFO (Chief FRaud Officer) of the company that bought my company &retirement contract'
rw [15:24]: You guys are fortunate that you can talk about news and fundamentals and not get scolded....LOL Gar would Boil me in oil....LOL - I do appreciate the news myself.....
kotarah [15:24]: SQNM HOD
jolox [15:24]: Chealton will remove Nirvana??
madriver [15:25]: also removes your spirit I think I read
forrestww [15:25]: good luck leeco!!! wish you well
kotarah [15:25]: Nester need help to much money
ortrade [15:26]: Fasting today.. very healthy for cleansing.. Morning went for daily 30min run prior trading and head to yoga class after trading..
LEECO [15:26]: MACD-heavy metals was the way chelation started but they found that it "Bypass By-pass Surgery" so that is why I go once a month
madriver [15:26]: seriously....you'll be fine leeco...you have lived this long you must be doing something right
nester [15:26]: got your back... be over later to help
picker304 [15:26]: Dang you guys making me feel guilty. i just threw my greasy burger in garbage
madriver [15:27]: oh...I knew they used it for metals...didn't realize doing after bypass...good to know
jolox [15:27]: Nirvana was "heavy metal band.
kotarah [15:27]: 7 Sept calls lots of SQNM cant wait
nester [15:27]: kotarah - options are very expensive on it
carr [15:27]: More grunge than heavy metal jolox
ortrade [15:27]: picker you need to recycle that burger..
LEECO [15:27]: picker-the low carb diets say greasy burgers are OK-zero carbs
carr [15:28]: save it for tomorrow picker
forrestww [15:28]: picker you always get it back and wipe it off LOL
kotarah [15:28]: Gar asked me why I bought out of the money I gave him an answer but I guess he was busy post why
picker304 [15:28]: No i'll have a salad tommorrow
ortrade [15:28]: all burgers are doomed..
carr [15:28]: forrest you got me, I was just taking a sip of my beverage and now need to clean my monitor LOL
rw [15:28]: yes they are ortrade
jolox [15:28]: Sorry Carr.....I come from Fred Warring era.
picker304 [15:29]: Yes unfortunately I do know that ortrade but man I like em
fwguyus [15:29]: what s wrong with the papertrade system
fwguyus [15:29]: its not taking any more orders for the day
picker304 [15:29]: whats the problem forrest (details)
ortrade [15:29]: that is the sad essence of apoptosis picker.
LEECO [15:29]: jolox-Good old Fred & his Pennsylvanians-looked just like my father
jim [15:30]: faz may be good for a hold over
jim [15:30]: faz options
madriver [15:30]: leeco remember to let us know when your next prostate exam is.....
howie78 [19:30]: over night ?jim?
LEECO [15:30]: FAZ now 13.65
jim [15:30]: yes
fwguyus [15:30]: trying to to buy MBI on papertrade and its doing nothing
ortrade [15:30]: FAZ is sacrifing the bulls to the god of SPY trying to please him..
nester [15:30]: FAZ might not be bad. think we may go up a bit more though
picker304 [15:31]: forrest I just bought F in papertrade so must be something on your end friend
kotarah [15:31]: you called it 250
picker304 [15:31]: Is FBI in SV list?
jim [15:31]: my guess is we will have a modest pullback tomorrow
LEECO [15:31]: FAZmoving up big time now 13.69
picker304 [15:31]: Sorry meant MBI lol
fwguyus [15:31]: whos forrest?
jolox [15:31]: Yes...Leeco.....just had thoughts of Peewee King and WLS bARN dANCE!!
fwguyus [15:32]: there it goes...it works..just a hickup...
LEECO [15:32]: 13.70
picker304 [15:32]: good forrest
howie78 [19:32]: thanks ..jim ..
madriver [15:32]: never see faz stay in one place long so it should be moving one way or the other
nester [15:32]: pick - wrong forrest...
LEECO [15:32]: 13.68
Andrew [15:32]: I've seen it go sideways for entire days madriver. Especially when the VIX is in the teens.
fwguyus [15:32]: is it pick or dick
forrestww [15:33]: picker all i have ever done was buy and sell call, don't know how to find the options that are moving quickly
nester [15:33]: forrest - have you bought Gar's book yet?
fwguyus [15:33]: which one?
picker304 [15:33]: Yes forrest Gars book
fwguyus [15:34]: you guys behaving like used car salesman...
kotarah [15:35]: Thre hg riders
picker304 [15:35]: Gars book on options he should be here anytime and can give you the link I don't have it. The book started some of us on option trading
carr [15:35]: fwguyus, I think they are just trying to be helpful
fwguyus [15:35]: i dont do options...
jim [15:35]: faz call august 14 @ 1.48
madriver [15:35]: andrw...never watched it too much until recently.....
Andrew [15:35]: http://garsworld.com/Bookpromo.htm
picker304 [15:36]: Oh ok forrest sorry I though you were asking
kotarah [15:36]: watch pick nester they will show you how and will help you carry the money
fwguyus [15:36]: when did i ask..dick..i mean dick..
fwguyus [15:36]: i know how options work..
jolox [15:36]: Gar's latest..."From 5 Million to LEECO....Just Say No to Drugs "
forrestww [15:37]: i haven't bought the book, but maybe i should take a look at it
fwguyus [15:37]: just not interesed in them..i just like to make my money daily and that its..
madriver [15:37]: is pickers name Dick?
kotarah [15:37]: NESTER
nester [15:37]: fw - there is a Forrest they are talking to
picker304 [15:37]: LOL so sorry forrest and fw got my f's confused
carr [15:37]: no his name is picker
picker304 [15:37]: watch it Mad lol
madriver [15:37]: what the heck is going on
rw [15:38]: Gar Book Covers many topics re stocks
picker304 [15:38]: just had forrest on the brain for the moment
Andrew [15:38]: MBI's in the list. It's one of the top 25 in terms of volume today.
fwguyus [15:38]: pick r u related to rw
picker304 [15:38]: LOL
ortrade [15:38]: mad I think they are saying you need to post a trade or two,..
carr [15:38]: fwguyus, there was not offence directed at you would you please take it easy.
fwguyus [15:38]: it working now andrew..it much have been a hickup..it just took a litttle longer than normal..
madriver [15:38]: ortrade...give it a rest
fwguyus [15:39]: then what is forest?
rw [15:39]: www.garsworld.com/book
Andrew [15:39]: out 2/3rds FAZ -1.1%
forrestww [15:39]: no problem picker
kotarah [15:39]: NESTER
carr [15:39]: forrestww is someon on this site
nester [15:39]: fw - forrest is a trial member
fwguyus [15:39]: that link dont work rw
nester [15:39]: yes kotarah
kotarah [15:39]: Just think in a couple days maybe SQNM will be either 3 or 13
ortrade [15:39]: jk'ing mad.
picker304 [15:39]: sorry for my confusion that started confusion
fwguyus [15:39]: i agree kotarah..
nester [15:39]: nice spread....
madriver [15:40]: peace!!!
madriver [15:40]: that's what she said
fwguyus [15:40]: also..pwav is on my list of stocks that may pull up a lot...
kotarah [15:40]: Thats your kind of money just like big daddy kane
jolox [15:40]: HOG watcher....cussing Nester.....now +1.37
Andrew [15:40]: Are you a fan of big daddy kane?
LEECO [15:40]: I bought the E-book called "Low Stakes Power Trading" you can get it from garsworld@gmail.com
fwguyus [15:41]: who dat?
kotarah [15:41]: yes
kotarah [15:41]: large money
Andrew [15:41]: Cool
madriver [15:41]: big daddy kane..who is he?
rw [15:41]: Andrew [15:35 (USA)]: http://garsworld.com/Bookpromo.htm
FWGUYUS sorry - I am not high tech ---this should work...
ortrade [15:41]: FAZ turned nasty Andrew.. no range in sight.. market chooses PERSISTENCE or REVERSAL as it wishes and always take weak hand sacrifice who hold..
fwguyus [15:41]: no problem rw
kotarah [15:41]: he a guy with large money
forrestww [15:42]: thanks leeco
Andrew [15:42]: He was on MTV when I was really little.
madriver [15:42]: ok
fwguyus [15:42]: nester
fwguyus [15:42]: sqnm is def. going up to 13
nester [15:42]: yes fw
kotarah [15:42]: word to the mother land singer
LEECO [15:42]: FAZ 13.61
madriver [15:42]: not looking good
picker304 [15:42]: Out F aug 10 call 10 17+
rw [15:43]: sorry to give you bad info fwuyus
madriver [15:43]: rw
kotarah [15:43]: Big Daddy Kane - Wikipedia, the free encyclopediaAntonio Monterio Hardy (born September 10, 1968) better known by his stage name Big Daddy Kane, is an American rapper who started his career in 1986 as a ...
rw [15:43]: market will close aorund 200 or more today on half volume
fwguyus [15:43]: look at its range which it has been trading in...
Andrew [15:43]: I don't think Big Daddy Kane would have bought FAZ today. Probably FAS.
LEECO [15:43]: don't believe quite that much rw
kotarah [15:44]: NO NO andrew
kotarah [15:44]: CYCC HOD
rw [15:44]: not far from that now leeco....181 dow up
Hoecake [15:44]: I vote dow will hit 10500 - 10600 and then we head back down, I hope I am wrong for societys sake but thats my prediction
kotarah [15:45]: It has been good to me today
Andrew [15:45]: added back to FAZ 13.60 (double position)
madriver [15:45]: why is that bad society Hoe?
Andrew [15:45]: added to FAZ 13.62 (double position)
Hoecake [15:45]: because the masses will freak out the lower the dow goes...
madriver [15:46]: lower it goes more money for us!lol
fwguyus [15:46]: ICO daily chart looks nice
madriver [15:47]: nester...are you going to hold faz?
kotarah [15:47]: C nice pop today
fwguyus [15:47]: sons making new 52w high
nester [15:47]: mad - don't have FAZ i have ERX $27 calls long
madriver [15:48]: oh I thought you had FAz...sorry
fwguyus [15:48]: sons is gettn ready to pop
nester [15:48]: and yes, i'm going to hold overnite. energy going to go up again tomorrow
fwguyus [15:48]: C should be a nice short soon
Gar [15:48]: How's everyone doing
Andrew [15:48]: added to FAZ 13.57 (double position)
fwguyus [15:48]: good
kotarah [15:48]: great
rw [15:48]: not a trade for me today gar not one
madriver [15:48]: up up and away
Hoecake [15:48]: Good, although found another small glitch in SV
fwguyus [15:49]: plus .60 of my whole papertrade portfolio
fwguyus [15:49]: up i mean
Hoecake [15:49]: When you set alerts on individual stocks, when they go off, you can see the window once but once you minimize it you cannot get it back
Hoecake [15:49]: so now stockvision has 5 windows open, but I can only see 2, the main program and my detached chat window...just an FYI
forrestww [15:50]: hey gar doing well
Hoecake [15:50]: Not a big deal, just thought I would share
kotarah [15:50]: FOR YOU ANDREW Another round of minor new highs for stock indices in late trade -- Dow +185, S&P +19, Nasdaq +47
carr [15:51]: Out CRUS July Calls 50+%
Gar [15:51]: I am curious if INTC earnings tonight will cause the market to flip to the downside.
kotarah [15:51]: beautiful can I help with the money??
picker304 [15:52]: Shes falling only needs to fall 70 points for me LOL
picker304 [15:52]: Hey Carr friend oh buddy oh pal need help counting that cash
fwguyus [15:52]: did anyone catch JTX , its up 22%
LEECO [15:52]: rw-you have to gain 27 point to make 200 DOW NOW
carr [15:53]: As soon as I get to count your cash from this morning my friend
fwguyus [15:53]: gar can you add PWAV to the symbols list..
rw [15:54]: do not think it will go to 200 now leeco faz probably a good play till market close
madriver [15:54]: definately some selling here
Hoecake [15:54]: I am not sure which is better way to play XLF puts of FAZ calls when its time
kotarah [15:55]: No problem CARR
ortrade [15:57]: Exit TSO -30p Exit PDC +42p
Andrew [15:58]: JTX has an interesting daily chart
fwguyus [15:58]: what a crazy day..
fwguyus [15:58]: i cant belive how much it pulled up
nester [15:59]: kotarah - SQNM chart looks questionable. i'll do some more research tonite
Hoecake [15:59]: Heavy selling in BAC and XLF
Andrew [15:59]: out FAZ +0.3%
kotarah [16:00]: Wait for DR LOWS report its coming up or down based on that I say up
howie78 [16:00]: out 1000 share faz 13.73
Andrew [16:00]: Very bad afternoon for me today - gave back almost 1/3 of yesterday's profits.
howie78 [16:00]: thank you all..
nester [16:00]: when does that happen
Andrew [16:01]: I think I was making daily-chart-type trades too often and applying them intraday.
kotarah [16:01]: up 10.9% Arna 10.8% OREX 20.1 %
Hoecake [16:01]: Ok now lets see what Intel posts...
Andrew [16:01]: Yes, INTC should be interesting to watch.
Andrew [16:02]: Then on Thursday is JPM, GOOG, and AMD
madriver [16:02]: well done kot
jim [16:02]: when will intc post
kotarah [16:02]: next few day I suspect but it will report Euro Land report soon
ortrade [16:02]: Today loses were -80p. Including the stocks. Did wel on FAZ though today..
jim [16:03]: see ya all have a good evening
howie78 [16:03]: i still holp 3000 share of hero ...any one have holp hero..?
Andrew [16:05]: HERO is in a huge downtrend so until it closes above 2.70 or so for a few days, I think you need to continue to give the sellers the benefit of the doubt.
Gar [16:05]: I don't mind this rally so much, but the cheerleading on CNBC is sickening.
madriver [16:06]: Gar....see above..I was listening this morning ...ridiculous
howie78 [16:06]: i thinking for sell some when maket open.. too...thank so much andrew ..
ortrade [16:07]: while it has little meaning all market did today is indexes did is hit the 40MA on 5 min and bounced of it (e.g. Nasdaq). Today the assumption of a down market and taking tiny red bars as market pull back to downside would have been major losses. Assuming sideways likely would have caused less losses..
madriver [16:07]: if you listen to what they say on CNBC you'll be broke in about a month
Andrew [16:07]: When did you buy HERO?
howie78 [16:08]: 2 week ago whe hero move up at 2,76
Andrew [16:10]: It's a tricky stock.
howie78 [16:11]: now i am move to daytrade ... from short term ..andrew..
madriver [16:11]: politics and well blow out weighing on hero although they are a shallow driller
forrestww [16:12]: when i want to watch a sitcom i go to cnbc, they get so exited when nothing is happening, can' wait for somthing serious to happen and see how many of them have stroke or heart attack LOL
Andrew [16:12]: They got pretty excited during the 5/6 flash crash.
Andrew [16:13]: It's all on youtube.
forrestww [16:14]: i'll have to check that out andrew
Andrew [16:14]: My best winning day trades today were stocks I found using a high volume screen in StockVision.
madriver [16:14]: the only sane person IMO is the guy that covers the auto industry for CNBC
Andrew [16:14]: My worst ones were the ones I improvised.
howie78 [16:16]: thanks ..andrew ...need go to lunch 1:15 at california see u all tomorrow..
Andrew [16:16]: Bye. See you tomorrow!
madriver [16:17]: int beat by a long shot
Hoecake [16:17]: I figured they would,
madriver [16:17]: intc
Andrew [16:18]: The price looks pretty flat
Andrew [16:18]: Or is it halted?
madriver [16:18]: margins grew....everything appears decent at face value
Andrew [16:19]: That's encouraging. I still am holding a little of that long-term.
madriver [16:19]: it does look flat...
Hoecake [16:19]: I dont think its open yet to trade
Andrew [16:19]: They halted it.
Andrew [16:20]: So it will gap up or down.
madriver [16:20]: how do you know/.....where do you find?
Hoecake [16:20]: I look at my T/S in scottrade and nothing is moving
Hoecake [16:20]: Faz still at 13.63
Andrew [16:20]: The last print I see is at 4:14pm and the news came out around 4:15.
Andrew [16:21]: It should gap up a lot though. QQQQ is still trading and is trading a lot higher.
madriver [16:21]: the last one I see on TOS is 4.17 ....who knows
Andrew [16:21]: DIA is also up a bit.
Hoecake [16:22]: I bet tomorrow we get between 10500 and 10600
Gar [16:22]: QQQQ is spiking because of INTC. But INTC is halted, no telling how it will trade when it starts up. But there will be some major bozo trading.
Andrew [16:23]: AMD is trading up almost 3% because of INTC too.
madriver [16:23]: intc is going to go with AMD you would think
madriver [16:24]: msft is making a move as well
Gar [16:24]: I still believe what I said last night, which is the market has lots of pent up bullishness and they are looking for any excuse to buy. So for now, most earnings will cause bozo spikes to he upside.
Andrew [16:25]: Yeah sure looks that way.
Andrew [16:25]: Didn't last earnings season begin with good news too but by the end began to sell off?
Andrew [16:26]: I remember AAPL surged around April 20th and the market looked like there was no end in sight.
Gar [16:26]: Yeah I think so. But it almost doesn't matter. These people always make up their mind beforehand, it seems. Why they all "wait" is weird to me.
madriver [16:26]: it sure seemed that way....I think it did. Is there any real logic to these moves?
Andrew [16:26]: But that was pretty close to the top in retrospect.
Gar [16:27]: Yeah that's the other thing. Market was pretty far down just a few days ago. So the bias will usually be to the upside. You know, all the "under valued" crap.
Andrew [16:28]: Yeah Oversold was leading earlier today but Big Buy Volume overtook it by the end.
Gar [16:28]: The one headwind, however, is the S&P is up 7% in the last 6 days. That is pretty absurd, by any standard.
Andrew [16:29]: Maybe the sellers are waiting for some totally crazy monster gap up before they get more aggressive.
Andrew [16:29]: Like on 6/21.
Gar [16:30]: Maybe.
Gar [16:30]: All I know is this is no time to be heavily short.
madriver [16:30]: market tends to move in extremes so......maybe we'll see more of that
Andrew [16:30]: The volume was a little bit better today but still nothing compared to the selling at the end of June.
Gar [16:31]: The time to be short is when everyone is whooping with huge bullishness. When CNBC is practically choking with cheerleading, that's when it is time to go short.
madriver [16:31]: that would be tomorrow because I thought they sounded absurd today
Gar [16:31]: Right now, there are still too many skeptics so odds are we move higher.
madriver [16:31]: it was weird
Gar [16:32]: Yeah I know mad. I can't stand that cheerleading b/s. Even if I am bullish.
Andrew [16:32]: Have you ever done after hours trading before Gar? Like earnings stocks?
Gar [16:32]: Not really. A couple of times I have bought something on a large gap down after hours.
madriver [16:33]: andrew do you listen to anything?
Gar [16:33]: I geez, INTC looks like it wants to open +10%. If that isn't ultra bozo I don't know what is.
Andrew [16:34]: I thought my Level 2 box was broken.
Andrew [16:34]: I'm seeing a possible bid for 23.50?
madriver [16:34]: that is too funny
Gar [16:34]: Yes, that's what I am saying. That is stark lunacy. Maybe this will be the big gap up they sell into?
Andrew [16:34]: Whoa
madriver [16:35]: 22.50
Andrew [16:35]: That's more reasonable I guess
madriver [16:35]: look at that candle.....long.............
Andrew [16:35]: Still back near its pre-flash crash price.
Gar [16:36]: Yeah it came down. What's funny is that to even print a bid of 23.50 means someone actualy MADE that bid. Some people are just psycho about this stuff.
Gar [16:36]: Lol if you could short INTC out of the gate, you would already be +1%.
Andrew [16:37]: After hours trading always seems pretty scary.
Gar [16:37]: INTC could conceivably completely decay before the open. I have seen that before.
Andrew [16:38]: madriver do you mean do I listen to music?
Andrew [16:39]: The Yahoo Finance headline is very strong... "Intel Posts Biggest Profit in a Decade"
madriver [16:40]: news during trade day
Andrew [16:41]: Not usually unless there's something important scheduled like the jobs report or GDP.
madriver [16:42]: what't the truth on Intel in the last 10years....what year was better?
madriver [16:42]: probably 2004 was better..a guess?
Andrew [16:43]: It would be nice if it sometimes returns to its tech bubble high in the 70s.
madriver [16:43]: maybe some decade it will....take a new inovation I would think
madriver [16:44]: i would think now you have to look for battery mfg for cars as potential giant growth stocks but i could be wrong
Andrew [16:45]: That sounds like a good sector to look at.
madriver [16:45]: i think we are well on our way to electric cars whether you like it or not
Andrew [16:45]: Did you that flying car they're making?
madriver [16:46]: I saw that....sounds fun
madriver [16:46]: can you imagine a bunch of those in one area...that would be scary
Andrew [16:47]: Yeah I doubt that's anytime soon.
forrestww [16:47]: that will never happen, they have to many problems with people on the road
madriver [16:47]: not in my lifetime. I thought he solar winged plane was pretty cool
madriver [16:48]: the
Andrew [16:48]: Have a good afternoon, got to go. I have some relatives coming into town so I'm probably not going to be trading much until Monday.
madriver [16:48]: later guys!
forrestww [16:48]: i like the idea though
forrestww [16:48]: later
nester [17:50]: swing - still not 100% sold on longs, but that is what the market is doing, so here are a few i am looking at. tell me what you think: BRCM ; PTV ; NOVL ; AIG ; NVLS ; WAG ; PHG ; F ; & DPS
picker304 [18:18]: Welcome trials. There are many good traders here that can assist you however please do your own research by studying the tutorials and have a trade plan before following anyone’s trades. Many here can help guide you through the site. Feel free to request a private chat with online users. We are eager to assist you. Enjoy your visit and we hope you become a regular part of the family
Fred [19:35]: Anyone have an idea on how to access the seminar tonight? I signed up yesterday at the website, but never received access instructions.
nester [19:40]: Fred - you should have received an email with the website and a password. you may check your spam filter just in case
Fred [19:41]: I did that already nester, but nothing there. Thanks for the suggestion anyhow.
nester [19:42]: it will be from admin @ garsworld
Gar [19:43]: Hey Fred, I am private-chatting you with the sign in info
Fred [19:44]: thanks Gar
Fred [19:48]: I got booted from the private chat when I tried to click the room link, forgot that for some reason links don't work with my computer and stockvision. Not a problem. I will catch the next seminar when it is scheduled.
xxcheck [19:54]: Hey Gar I didnt get the email either
madriver [19:54]: fred are you new?
Fred [19:57]: Not really, have been monitoring the room for several months
xxcheck [19:59]: Anyone know how to login to the webinar
Gar [20:00]: What's up with people not getting the email?
porti [20:01]: try your spam folder junk mail etc
Fred [20:01]: Not sure what the problem is, rechecked all e-mail folders, it didn't get received and diverted
madriver [20:01]: xxcheck have to be pre registered I believe
madriver [20:02]: looks like some who pre registered did not get email
nester [20:02]: Fred - if you are having issues with the links, copy and paste them until you update explorer
Fred [20:07]: Thanks nester. I should have thought of that rather than clicking on them. I am using the latest version of Firefox browser. Perhaps the links only work with explorer.
madriver [20:08]: nester...to the rescue!!! Firefox is a better browser...i would agree on that!
Fred [20:16]: Gar said in a private chat that e-mailed me the info directly from his personal e-mail, and I didn't get that either, so suspect the problem is at my ISP. Anyhow I'm sure he will have more of these seminars - I'll make the next one for sure. Meantime monitoring the room and reviewing the tutorials, so have a basic idea how to use the system anyway.
nester [20:17]: Fred - you should get an email that will allow you to see the video copy of this. if you don't get it by friday, ask Gar for it
Fred [20:18]: Sounds good nester, thanks.
madriver [20:24]: should be able to short vstn.pk to a penny for a few dollars.Can you short a pk? looks pretty liquid?
nester [20:29]: mad - wouldn't trade a pk ticker even with your money... use to do those and they are extremely hard to make money on
madriver [20:30]: thx nestea.....looks like only 1 or 2 MM usually handle...sounds kinda iffy at best?. Appreciate the advice.
porti [20:54]: hi all, lets see if this is live
porti [20:54]: :-)
Hoecake [21:17]: There is another webinar tonight?
nester [21:21]: hoe - started 1:30 hrs ago
jolox [21:24]: Nester a mentor??.....he missed HOG
Hoecake [21:29]: Which webinar is this one?
nester [21:31]: hoe - it is about how to work SV
Hoecake [21:32]: I never got the email, I would have been on it...dang it!!!!
Hoecake [21:34]: Do you have a link?
Hoecake [21:34]: so I can see the promo page?
Hoecake [21:34]: costs etc
nester [21:35]: not sure Hoe. chat with Gar later
Hoecake [21:36]: :( :( :( so sad....
Hoecake [21:37]: Just saw its free, maybe Gar will give me a free replay
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