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Forum date: 07-14-10
JayBird [3:03]: four economic reports are scheduled to be released before the open. 1) Retail Sales (Consensus -0.2%), 2) Retail Sales ex-auto (Consensus 0.0%), 3) Export Prices ex-ag (Consensus NA) and 4) Import Prices ex-oil (Consensus NA).
Tomorrow, before the open, look for FAST, HITK and INFY to report.
four economic reports are scheduled to be released before the open. 1) Retail Sales (Consensus -0.2%), 2) Retail Sales ex-auto (Consensus 0.0%), 3) Export Prices ex-ag (Consensus NA) and 4) Import Prices ex-oil (Consensus NA).
Tomorrow, before the open, look for FAST, HITK and INFY to report.
four economic reports are scheduled to be released before the open. 1) Retail Sales (Consensus -0.2%), 2) Retail Sales ex-auto (Consensus 0.0%), 3) Export Prices ex-ag (Consensus NA) and 4) Import Prices ex-oil (Consensus NA).
Tomorrow, before the open, look for FAST, HITK and INFY to report.
four economic reports are scheduled to be released before the open. 1) Retail Sales (Consensus -0.2%), 2) Retail Sales ex-auto (Consensus 0.0%), 3) Export Prices ex-ag (Consensus NA) and 4) Import Prices ex-oil (Consensus NA).
Tomorrow, before the open, look for FAST, HITK and INFY to report.
carr [6:49]: morning all
nester [7:24]: morning carr
carr [7:24]: nester are you a bull or a bear today
nester [7:25]: lol... have to be bull. they broke thru the trend line.
nester [7:25]: LONDON (AP) -- Oil prices dropped below $77 a barrel Wednesday after a report showed U.S. crude supplies rose unexpectedly last week, suggesting demand remains lackluster.
Benchmark crude for August delivery was down 38 cents to $76.77 a barrel at midday London time in electronic trading on the New York Mercantile Exchange. On Tuesday the contract gained $2.20 to settle at $77.15.
Crude inventories rose 1.7 million barrels last week, the American Petroleum Institute said late Tuesday, against a drop of 2.6 million barrels forecast in an analyst survey by Platts, the energy information arm of McGraw-Hill Cos.
Inventories of gasoline and distillates also rose, the API said
nester [7:26]: NEW YORK (AP) -- Investors are ready to send the market higher again after a fresh round of upbeat earnings provided hope that an economic rebound will pick up. Stock futures rose Wednesday.
It was chipmaker Intel Corp.'s turn to wow investors with strong earnings and a positive outlook for growth, a day after Alcoa Inc. and CSX Corp. did the same.
The Dow Jones industrial average is set to extend its six-day winning streak. An upbeat report on June retail sales due out later Wednesday could provide an additional boost to the surging market. However, the report is expected to show a slight drop in monthly sales.
nester [7:26]: WASHINGTON (AP) -- To the list of economic woes squeezing small banks, add another one: government bailouts.
The Treasury Department's bailout program was designed with Wall Street megabanks in mind, according to a new watchdog report. The "one-size-fits-all" program may actually be hurting small banks that are struggling to repay the money or even deliver quarterly dividend payments, the report says.
The main bank bailout program anticipated banks springing back from the crisis and raising fresh funds to repay the government, the report says.
That's exactly what happened to most of the big banks that took the most bailout money. Yet small banks continue to struggle, dragged down by souring loans for commercial real estate and high unemployment. Hundreds more small banks are expected to fail by the end of next year.
porti [7:26]: hi all, mentors and rest...
nester [7:26]: morning porti
nester [7:26]: LONDON (AP) -- European stock markets fell modestly Wednesday ahead of key U.S. retail sales data due later. Asian markets, which were catching up with a global rally the previous day, closed higher after Intel Corp. posted strong sales figures and Singapore said economic growth was stronger than anticipated.
In Europe, the FTSE 100 index of leading British shares was down 22.23 points, or 0.4 percent, at 5,248.79 while Germany's DAX fell 7.66 points, or 0.1 percent, at 6,183.47. The CAC-40 in France was 13.16 points, or 0.4 percent, lower at 3,624.60.
Wall Street was poised for modest gains -- Dow futures were up 48 points, or 0.5 percent, at 10,336 while the broader Standard & Poor's 500 futures rose 5.4 points, or 0.5 percent, at 1,085.10.
nester [7:27]: SINGAPORE (AP) -- Singapore expects its economy to soar 15 percent this year after a record expansion in the second quarter that suggests Asia's recovery from the global recession remains on track.
Gross domestic product for April through June grew 19.3 percent from a year earlier when the economy was shrinking because of the global recession, the Trade and Industry Ministry said Wednesday. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.
The ministry raised its forecast for the city-state's economic growth this year to a range of 13 percent to 15 percent from the previous forecast of 7 percent to 9 percent. It also raised its forecast for export growth as global demand has stayed strong amid Europe's debt and fiscal crisis.
nester [7:29]: NEW YORK (CNNMoney.com) -- U.S. stocks looked to rally at the start of trading Wednesday, as Intel's upbeat earnings boosted confidence.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were higher.
Email Print CommentFutures measure current index values against perceived future performance.
A strong start to the quarterly reporting period has helped jolt markets. Stocks surged Tuesday on better-than-expected profit from aluminum giant Alcoa (AA, Fortune 500).
The positive earnings news continued Tuesday, when Intel (INTC, Fortune 500) reported its best quarter ever after the closing bell. The chipmaker reported strong demand from corporate customers and issued a sales outlook that topped Wall Street's estimates.
But with more than 20 companies in the S&P 500 releasing second-quarter earnings this week, investors remain wary about the strength of upcoming results and guidance.
nester [7:30]: WASHINGTON (Reuters) - Congress will likely act to extend tax cuts for the middle class to avoid choking off the fragile economic recovery, key congressional Democrats said on Tuesday.
House Democratic Leader Steny Hoyer said he expected the House of Representatives to push to extend middle class tax cuts before they expire at year end, but suggested cutting taxes for the wealthy is less urgent.
"What you want to do is stimulate at this point in time, so you certainly do not want to increase taxes on the middle class, middle-income working Americans," Hoyer told reporters.
President Barack Obama and his Democratic allies in Congress have vowed not to raise taxes on individuals earning less than $200,000 or couples making less than $250,000.
nester [7:30]: WASHINGTON (AP) -- A new White House report says last year's $862 billion stimulus law has now "saved or created" between 2.5 million and 3.6 million jobs.
That's up from 2.2 million to 2.8 million in the last quarterly report from the White House Council of Economic Advisers.
Christina Romer, head of the council, says in congressional testimony prepared for Wednesday that every $1 from the stimulus bill is matched by $3 in private money.
nester [7:31]: SAN FRANCISCO (MarketWatch) -- Among the companies whose share are expected to see active trading in Wednesday's session are Marriott International Inc. and Jackson Hewitt Tax Services Inc.
nester [7:35]: carr - are you more bullish or bearish now?
carr [7:35]: always bullish nester well almost always
carr [7:36]: morning Kotarah and JayBird and Porti
nester [7:38]: kotarah - an article for you http://finance.yahoo.com/news/Diabetes-pill-controversy-apf-2307783405.html?x=0&sec=topStories&pos=9&asset=&ccode=
kotarah [7:46]: Heres one for you dont follow GSK thanks NESTER Sequenom: Overview of ISPD data and its impact on SQNM - Auriga (6.27)Auriga notes, based on data presented at the ISPD 2010 conf (July 11-14), as well as recent and pending scientific publications, the direct diagnosis of fetal chromosomal aneuploidy via nucleic acid analysis from maternal plasma now seems commercially feasible. At the conf, Dr. Lo presented background data and headed a panel discussion on why the DNA method of detecting Down Syndrome noninvasively is a better methodology (versus RNA- based approaches). Firm reiterates Buy rating on SQNM, reflecting its increased confidence in the commercial potential of the T21 test.
jim [7:57]: morning all , Nester, Carr, Porti, Kot
carr [7:57]: Morning Jim
nester [7:57]: morning jim
carr [7:57]: morning Picker
jim [7:58]: Morning Cuz
picker304 [7:59]: morning all
picker304 [8:00]: 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
nester [8:00]: hey pick
picker304 [8:00]: Hey cuz nester and all my cuz/
picker304 [8:00]: meabt 's too ealry can't type
picker304 [8:01]: test
carr [8:01]: are the fingers working now picker?
nester [8:02]: and you teach guitar...
picker304 [8:03]: shh don't tell everybody lol
rw [8:05]: Hmmm - Musician - ?
rw [8:05]: Mr. Nester:
rw [8:05]: Morning all
carr [8:05]: hey RW
nester [8:05]: mornin rw
rw [8:06]: Mr. Nester - What are your favorite watchers today please.....I am watching NLY and cvlt also pvx for bounce later
rw [8:06]: Morning Carr
nester [8:06]: this morning starting to feel like a down day -60 or so
rw [8:06]: watching SQNM per Mr. Kotarah
nester [8:07]: rw - well, if we start off red, i have to revert back to my short list from a week ago...
rw [8:07]: schwab said to watch PDLI ATVI UHT for a up move
rw [8:07]: Thanks.
nester [8:07]: still like LTD PXP & EXPE short also ERX
rw [8:07]: Thanks
nester [8:08]: if we are green, i posted a list last nite.
nester [8:09]: from last nite 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 [8:09]: Gotta run guys take care of sheep today
carr [8:10]: later mr shepheard
nester [8:10]: c'ya pick
fhovaniec [8:12]: I watched the demo last evening; question: Where do I find the NEWS button?
nester [8:13]: fhov - double click on the ticker and a 3 panel window will open. News button on the bottom
fhovaniec [8:13]: ty
jolox [8:22]: Good Morning everyone.
nester [8:22]: mornin jolox
kotarah [8:22]: morning
nester [8:23]: SOMX up already
kotarah [8:23]: yes
jolox [8:24]: Nester......you look at list...I sent ?
nester [8:24]: yes, printed out...
nester [8:24]: i'll expect a refund if i lose any...
jolox [8:25]: yes.....of course
jolox [8:27]: WAG is good....I've seen CVS as buy.....NOVL.....any small techs good.....esp semis...LSCC etc
jolox [8:28]: Your list.....AMD...AMAT....NVDA
jolox [8:37]: Nester....Homebuilders.were a buy yesterday.....DHI NOW DOWN IN PRE-MKT.....PHM ..LEN may be good shorts today
jolox [8:38]: Anything related to INTC is up in pre-mkt
rw [8:39]: Fhovaneic welcome
rw [8:40]: Mr. Shepherd - see you - have a good day
rw [8:43]: brcm daily shows indecision on last day culd go either way but probably up
rw [8:44]: PTV - negative volume - not sure of it
rw [8:45]: ERX looks good
rw [8:46]: EXPE has room to go up
PA [9:03]: Good morning rw, nester and all
rw [9:03]: Morning PA
nester [9:03]: morning PA
PA [9:05]: nester are you using IB what is your experience
nester [9:05]: no, i use TD. can't help you. thinkin of switching though
nester [9:06]: FAZ long 13.94
PA [9:07]: may be ortrade use it I can ask him later, look like they allow me to write naked option without asking permission , I will try it to day
PA [9:08]: It is better to be on the sell side if you know what you are doing
Avalon [9:09]: Morning rw, nester, pick, PA, all.
nester [9:09]: morning Avalon
carr [9:09]: morning Avalon
PA [9:09]: morning Avalon
knight [9:10]: good morning
nester [9:10]: mornin knight
carr [9:10]: morning knight
Sandman [9:10]: Well nester you are up 6 cents.
knight [9:10]: gm nester,carr
jolox [9:11]: Nester......I went through Fin-viz under INTC and AMAT.....the whole Semi sector is smokin...they change data at 9:00 am.....good place to find good candidates.
nester [9:11]: yep. should be a good play today. the market is a bit overextended to me
jolox [9:12]: The HOG may be butchered today !
nester [9:12]: jolox - watchin a few. just up so much they should drop. and if the market is red, they will fall more
lindo [9:12]: morning all
Sandman [9:12]: I'll be in FAZ as soon as the Stochastic tells me.
knight [9:12]: well every thing going the way i said last week with the rally , FAS up up up , FAZ down down down at target 13- 14 range.
carr [9:12]: morning Lindo Sandman
Sandman [9:12]: good morning carr
Willie2 [9:14]: You were right Knight said rally after 4th of July
knight [9:14]: as usual for the none believer
knight [9:16]: my picks AIG, solf, jaso.RDN,usg and TZA down are doing very well
knight [9:17]: what's make me mad , is MM are controlling our life
PA [9:17]: Good morning knight you are very right what technical system do you use, My Advance GET indicated that we are about to end downwave 4 which would be somewhere here and 10600 for DOW
Andrew [9:18]: Good morning.
PA [9:18]: Good morning andrew
rw [9:19]: Good Morning Andrew and Mr. Knight
rw [9:22]: Mr. Knight: Your forcast was right on target, as usual.....Thanks.
Sandman [9:23]: I won't be on much next week. My son is coming from Ohio.
carr [9:27]: I hope you have a great visit with him Sandman
Sandman [9:27]: thanks carr
rw [9:28]: same here sandman....Enjoy him.....a blesisng to have those kinds of visits -
Sandman [9:28]: thanks rw
Andrew [9:29]: I'm not sure how to play this gap down. Probably look for non-retail companies to buy, and perhaps tech will preform the best today b/c of Intel.
Isa [9:31]: Any toughts on SQNM?
Andrew [9:31]: long RDN 8.52
Andrew [9:32]: short NVDA 11.30 (triple position)
Andrew [9:33]: SQNM's chart looks pretty weird. It looks like it could go either way but probably better risk-reward as a short.
Andrew [9:33]: The specific entry at 6.10 though is probably better as a long though for day trading.
rw [9:33]: aapl 250.19
rw [9:33]: long
Andrew [9:33]: tripled upon RDN 8.55
rw [9:34]: sold at 250.36
rw [9:35]: wfc watcher
Isa [9:35]: Im in at 6.08 from yesterday and regrets holding now....
rw [9:35]: which stock isa
Isa [9:35]: hopefully it's gonna have another quick run today!
Isa [9:35]: sqnm
Andrew [9:35]: I think 6.08 is a pretty decent entry but just make sure you have a pretty tight stop since there's a lot of room for it to sell-off as well.
turbo911 [9:36]: kerx moving up
rw [9:36]: smh watcher
Isa [9:36]: thanks Andrew
Andrew [9:37]: long RF 7.03 (triple position)
Andrew [9:38]: out NVDA +1.2%
Andrew [9:38]: long FAS 22.82 (triple position)
Hoecake [9:39]: Morning, to early, why are financials dipping,
Andrew [9:40]: The whole market gapped down this morning due to bad retail sales data I think.
Andrew [9:40]: Probably a good buying opportunity.
Andrew [9:41]: Though keep it tight since the market's come a long way pretty quickly already.
Andrew [9:44]: long RSH 20.98
Hoecake [9:46]: LONG XLF Papertrade 14.75
Andrew [9:46]: out RF +2%
nester [9:48]: FAZ $13 calls $2.19
Andrew [9:48]: tripled upon RSH 20.91
rw [9:48]: been watching RSH for long also
rw [9:48]: also NLY
Hoecake [9:49]: Cramer sure pumped NVDA last night...it sucks because that was a stock i was looking at buying and holding for a period of time...
Andrew [9:50]: added to RSH 20.86
Andrew [9:51]: out RDN +1.6%
ortrade [9:51]: RSH looks like a floater to me..
Andrew [9:51]: If it's going to bounce it should pretty soon.
Andrew [9:52]: Maybe retail will just sell off all day though
Andrew [9:53]: added to RSH 20.70
rw [9:53]: rsh 20,74
Andrew [9:54]: out FAS tiny loss
ortrade [9:55]: by the way, floater is a boat that goes to wherever the current takes it (not something that will not sink).
Andrew [9:55]: added to RSH 20.65
Andrew [9:57]: back in FAS 22.80 (triple position)
Treacherous_Cretin [9:57]: Trying FAZ short here
ortrade [9:58]: I believe till now are in sideway open.
Treacherous_Cretin [10:00]: it ain't much of a selloff. If they meant it we would be lower I think
Andrew [10:01]: AFter the run-up we've had though there's a lot of room for profit-taking.
Treacherous_Cretin [10:02]: yeah but there is even more room between here and infinity....which is where the bulls want to take this
PA [10:02]: SELL naked FAZ August 20 2010 13.00 PUT (200*1.02)
Andrew [10:02]: added to FAS 22.78 (double position)
Treacherous_Cretin [10:02]: will probably bail on FAZ short soon. TRIN is looking pretty yuck all of a sudden
ortrade [10:03]: TC and Andrew, we are at a rather crucial point now on indexes daily that is third vertex of a large downtred that started on 4/24/2010. Market did not gap up or down consistently at the open. Since FOMC at 2 I see sidways and struggle volatility (sideways) on this vertex.
rw [10:04]: sold RSH 20.82 in at 20.73
Andrew [10:05]: out half RSH tiny gain
Treacherous_Cretin [10:05]: no idea what all that means ortrade. Doesn't mean it does not exist. I just have no idea
rw [10:05]: AAPL again 250.21 sold 250 .38
Treacherous_Cretin [10:05]: all I see is an easy 1-2% scalp sitting in FAZ if I am right
rw [10:05]: ANDREW we got out to quik - but got tired of being whipped around
Andrew [10:06]: You never know on those rw, which is why I took half off the table pretty quickly since I didn't have the best entry in retrospect.
Treacherous_Cretin [10:06]: FAZ should drop pretty close to 14 I think...can be wrong
ortrade [10:07]: TC look on daily on Nasdaq for example and draw dowtrend line from 4/23/2010 to 6/21/2010 . Today candlestick is on that line.
rw [10:07]: as you have said keep 25% andrew......that is the key on a run up
Andrew [10:08]: out rest of RSH +1.1%
Treacherous_Cretin [10:08]: yeah we are at resitance levels on several charts. Selling seems too obvious though
Andrew [10:08]: short RSH 21.15
Andrew [10:09]: tripled up on RSH short 21.12
Treacherous_Cretin [10:09]: the A/D is slowly mending and the TRIN is dropping...FAZ should puke off so I can lock a gain and take a nap.
rw [10:10]: anyone uyse E signal?
Andrew [10:10]: I need to leave pretty soon, so it would be nice for FAS to get some momentum in the next 20 minutes or so.
ortrade [10:10]: hitting downtrend on daily on indexes does not mean resistance or support.. in most case it means volatility until direction is decided.. Market makers get really greedy at these points (vertexes)..
Andrew [10:11]: INTC doesn't look like it wants to go down much, might be a great long near 22.00.
ortrade [10:11]: what is the rational fro RSH short.
Andrew [10:12]: Pop up in very weak stock on the day ortrade in the weakest sector
Andrew [10:12]: one of the weakest sectors
madriver [10:12]: carr uses esignal I believe
ortrade [10:14]: Assuming presistence continues in this sector I thought earlier you entered RSH long
Andrew [10:15]: Above 21.10 it seemed like the risk-reward switched to being much better on the short side.
Andrew [10:16]: It had just bounced over 3% in 10 minutes.
ortrade [10:16]: FAZ 3000@14.14p
Andrew [10:16]: That should draw out short-term profit-takers.
ortrade [10:17]: Market direction is now downward that should take RSH with it as it is a floater.
Andrew [10:17]: What is a floater?
ortrade [10:18]: I explained in 9.55 post.
Treacherous_Cretin [10:18]: closed the faz. trade
Treacherous_Cretin [10:19]: i feel like crap and should not be here
Treacherous_Cretin [10:19]: bye
Andrew [10:19]: I think even if the market strenthens there could be a little more selling in RSH and the retail sector anyway. I observed some of that in the first 20 minutes or so.
lindo [10:19]: bye TC
Andrew [10:20]: bye
rw [10:20]: talking heads menitoned a buy out of RSH
Andrew [10:20]: Oh that's interesting. Which channel?
madriver [10:20]: i thought that were talking about taking RSH private?
rw [10:20]: TC sorry to hear you feel bad...I will send you an e mail....
Andrew [10:21]: That would definitely go under my "Top 10 things you don't want to hear when you're currently short"
Hoecake [10:21]: lol that would be an interesting list
madriver [10:21]: andrew..i believe that talk is taking it private
rw [10:22]: early buy out taking it private etc...something like that
rw [10:22]: caught the last of it... not sure but a change is possible
Andrew [10:22]: The sellers are still holding it down rather nicely.
Andrew [10:23]: Why are the financials doing so badly?
Andrew [10:24]: On the daily chart FAS looks wonderful.
madriver [10:24]: the talk is a blackstone takeout anyway
Andrew [10:27]: added to RSH short 21.03
nester [10:27]: out FAZ 1.2%
Hoecake [10:27]: I think XLF might head up and bump its head on 15.00 resistance
Andrew [10:28]: Yeah it sure looks like it wants to go near there.
nester [10:29]: FAZ long 14.09
Andrew [10:29]: added to RSH short 20.96
ortrade [10:31]: If they caught sufficent FAZ shorts on the bus FAZ will go up. That will pay the market makers ticket. Otherwise it will go further down or bring the 20 MA up while FAZ is going sideways.
Andrew [10:32]: None of that matters much ortrade with FAZ per se since it all is correlated automatically to the individual financial stocks.
Andrew [10:33]: Any effect of shorts covering FAZ is pretty negligible I'd imagine.
ortrade [10:33]: I have no idea what you just said Andrew.. Most traders look at the sector etfs when deciding to pick a stock to trade in that sector.
Andrew [10:34]: I just mean that "If they caught sufficient FAZ shorts on the bus FAZ will go up" probably isn't the case.
carr [10:34]: at 10:01 filled 20 ALGN july calls at $.05
Hoecake [10:35]: carr what strike
Hoecake [10:35]: ?
Andrew [10:35]: Unless you mean more generally if they caught people shorting the individual financial stocks.
carr [10:35]: sorry $17.50 a bit of a stretch
carr [10:36]: only 2 days left
ortrade [10:37]: I belive that is a correct statement. Market moves with few traders on board. Until that is reached it shakes out holders. currently FAZ staged a downtrend on the 5 min with some large red candles. That is market maker way. FAZ short get tempted. If sufficient got tempted Market makers move market the opposite way forcing holders to sell. This way it shakes out the scalpers.
Hoecake [10:37]: I know thats a long shot
Hoecake [10:37]: I am thinking of FAZ 15 calls for Aug
carr [10:38]: What are they going for?
Andrew [10:38]: The market makers in FAZ only really matter for a couple of cents in either direction. Aside from that they have no control. The automated trading strategies in FAZ completely dominate.
Hoecake [10:38]: .50
nester [10:38]: Hoe - FAZ $13 calls are decent priced
Andrew [10:39]: FAZ cannot be moved much at all by a single entity specifically trading FAZ.
Andrew [10:40]: That's why I contend that the number of people who shorted FAZ doesn't matter at all.
carr [10:40]: Hoecake, if you have a lot of long positions, at .50 that could be a good hedge in case of a big drop in the market
ortrade [10:40]: Now a bit more clarification. If there are not sufficient shorts on the bus the market makers will keep moving FAZ up and down shaking out longs and shaking out shorts. Since you cannot predict how many are tempted on the shorts in downtrend or longs in uptrend you cannot predict the range of a sideways.
Andrew [10:40]: That analysis sounds good for individual stocks but not for ETFs.
carr [10:41]: Andrew was that for me or Ortrade?
Hoecake [10:42]: XLF AUG 14 Puts are cheap... .36
ortrade [10:43]: There is a cause and effect from till NOW and from NOW one. So if I see FAZ goes up and I am interested in GS (assume its part of FAZ) than I short GS. All these trades (that is the total number of positions - not number of traders) will move FAZ and so on..
nester [10:43]: Kotarah - we missed the move on SOMX...
ortrade [10:43]: meant from NOW on.
kotarah [10:43]: I did not post anything today NESTER
Andrew [10:44]: Yeah, I agree.
nester [10:44]: been busy at work and only played FAZ in premarket at at open. didn't look at it till now...
Andrew [10:45]: For ortrade carr.
nester [10:45]: not enough volume on it to tempt me in here
kotarah [10:45]: I added to KERX which I bought for 3.57
Andrew [10:46]: short SOMX 3.53
Andrew [10:46]: tripled up on SOMX short 3.53
Hoecake [10:47]: I will be watching VZ over the next few days, MACD histogram might cross in the next day or 2 but has a gap up to fill ( is that correct all mighty Andrew lol )
Hoecake [10:48]: err has a gap down to fill i mean....
Andrew [10:48]: added to SOMX short 3.54
ortrade [10:51]: looks like FAZ move sideways to bring price to its 20MA on 5min chart.
Andrew [10:53]: Very narrow range today so far. Good call ortrade.
Andrew [10:55]: out FAS tiny gain
Sandman [10:56]: FAZ is stuck between 14.07 & 14.20.
Andrew [10:56]: long FAZ 14.18 (triple position)
Andrew [10:56]: added to RSH short 21.02
rw [10:57]: MO long watcher for a half percent gain
Andrew [10:59]: out RSH tiny gain
Andrew [11:00]: out SOMX -0.21%
Andrew [11:01]: added to FAZ 14.10 (double position)
Andrew [11:01]: added to FAZ 14.13
Andrew [11:04]: out FAZ -0.6%
Andrew [11:04]: That's it for me today. Good luck with your trades.
lindo [11:07]: bye
ortrade [11:09]: BJ 400s@43.61p
carr [11:12]: ITMN is doing well today
picker304 [11:18]: Hello again SV family anybody making $ today?
nester [11:18]: jolox - the longs on that list are doing well 9 of 12
porti [11:19]: reminder for myself: trading should be boring, the more excited i get the more money i lose!
nester [11:20]: aone
madriver [11:20]: pick ...made a few dollars on bpz on oversold from yesterday....worked on nicely
picker304 [11:21]: I should of took the gap down as planned but on no waited and waited...STUPID picker
madriver [11:21]: which one
picker304 [11:21]: Rule #1 how to win at stocks
picker304 [11:22]: Never NEVER follow picker
madriver [11:22]: which one picker?
picker304 [11:22]: Mad bought faz call on suspicion of gap down perfect plan up 17+ and greed wouldn't let me hit the button now look
nester [11:23]: CIEN looking interesting
picker304 [11:26]: Swing you out there cuz?
madriver [11:26]: nestea...any change in your prediction of the market?
nester [11:27]: not yet... i'll give you a better guess about 3.58...
madriver [11:27]: approaching 1100 on S&P
picker304 [11:27]: great answer LOL
madriver [11:28]: not talking today talking longer term like 1-2 weeks
jolox [11:29]: Out VALE July 23 calls at even.....In AMD Aug 6 calls
nester [11:30]: sure... i still say down. just got this feeling we will head back down to 9400 and 920
picker304 [11:31]: 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
iswing64 [11:35]: Filled on faz aug 14 puts (loose straddle)
picker304 [11:36]: Hey swing good to see you
Hoecake [11:36]: NVDA has a perfect flag forming on 5 mini
nester [11:37]: the "what works" tab is saying long right now...
ortrade [11:39]: MLHR 400s@18.50p
madriver [11:41]: I'm going the opposite...10800 on dow and 1145 on S&P maybe because CNBC convinced me of a rally.....one other thing kind of makes me wonder and that's all the mutual fund redemptions....people run out.....I want to run in.....I hope I'm right....probably be wrong
ortrade [11:43]: Exit BJ -68$p
nester [11:44]: well, the one thing that worries me about this "rally" is the fact that the volume is horrible. again, almost -40%. they are sitting out just letting the "dumb money" run this pig up and then lead them to slaughter
rw [11:44]: Mostly Hedges, traders and govt trading now - and MM -------they have to run the market up again then sell it down.......I think as Mr. Madriver said that we will see up movement to maybe 10,500 or so
rw [11:45]: The services I use all indicate there is no real reason for markets to go up
rw [11:45]: Right now I am still hedged about 20% dxd short on myinvestment money and gold short
nester [11:46]: rw - again, that is the "dumb money" running this thing up. everything is falling over the edge and the market goes up. doesn't quite make sense to me.
Hoecake [11:46]: Its because of Cramer, he said everything is ok lol
nester [11:47]: the more that you read that this is a "buyers" market or that we will see 14000 dow, that is setting everyone up for a failure, everyone execpt the smart money that is...
nester [11:49]: just my opinion though. again, i am more of a bear than a bull, at least right now
Hoecake [11:50]: See I am more like a monkey, I sit in the tree, watch the bear and bull argue, then when one wins, jump on the winners back and ride
rko [11:51]: I'm with you Hoecake
nester [11:51]: hoe - i do that also. it is the underlying thought i have though
Hoecake [11:51]: I hear you, underlying, I think bear will win over bull..
rw [11:52]: yes mr nester my thoughts also my financial person is well read and a cpa and feels the same he calls for a 8,000 dow
Hoecake [11:52]: but for now, I will eat a banana in my tree and wait..
nester [11:52]: lol...
rw [11:52]: Dr. Cramer takes to many Happy pills
rw [11:52]: hoecake - you are a card....LOL
rko [11:53]: Cramer was more bullish than I've seen him in a long time.
rw [11:53]: I was in AAPL twice at 250 251 made a little now aapl 255 go figure
nester [11:53]: rw - i can see the dow dropping to 7500 easy, just won't happen for a few more months. i think with this mid term election, the markets are being "prop'ed" up
Hoecake [11:53]: last night? I thought that was just me, but he was uber bullish
rw [11:54]: Yes I remain heavily short thru GLD short, DXD SHort
Hoecake [11:54]: throwing eggs, WTF? I would hate to be the cramer clean up crew
rw [11:54]: but have a lot of Junk bond funds fagix and jahyx
rw [11:54]: and JNK
rko [11:54]: Cramer is a nut-job
nester [11:54]: he is a puppet.
Hoecake [11:54]: I want whatever he is smoking....
madriver [11:55]: he is really jacked up it seems!
nester [11:56]: i haven't watched him in a long time. i have noticed that he quit bashing this whitehouse regime. got slapped and got back in line
rko [11:56]: I don't want what he is smoking... he is long on everything
rko [11:57]: Gold very volatile today
nester [11:57]: rko - he says he long on everything...
Hoecake [11:57]: I wonder what his qin lose ratio from what he pushes on his show
Hoecake [11:58]: win/lose
madriver [11:58]: 50/50 actually
madriver [11:58]: saw a ranking lately and he was 50/50
rko [11:58]: He is down 5%
rko [11:59]: 2% for the year
nester [11:59]: tomorrow, Initial and Continuing Claims come out. this could hurt this "rally"
ortrade [12:00]: THO 400@28.51p
Hoecake [12:01]: ugh, I hate it when you hesitate to pull the trigger, its like eating the frog, the longer you wait the larger it gets
nester [12:02]: The real unemployment rate? 16.6%
The Labor Department's statistics don't include the underemployed and those who have stopped looking for work. This alternative measure creates a much higher number.
[Related content: jobs, construction, manufacturing, economy, financial crisis]
By Mary Engel
MSN Money
Hoecake [12:02]: these FAZ calls keep staring at me, and I keep staring back....I feel like they are trying to say so much to me without saying anything at all ... lol
nester [12:02]: http://articles.moneycentral.msn.com/learn-how-to-invest/The-real-unemployment-rate.aspx
nester [12:03]: this is the stuff no one reads that will kill the market's momentum
nester [12:03]: meeting time... back in a couple of hours...
madriver [12:03]: I think unemployment is irrevant at this pint
madriver [12:03]: point
Treacherous_Cretin [12:05]: I see FAZ flopped to 14
nester [12:05]: mad - high unemployement = less consumers = less profits = less likely the dow will go up
Treacherous_Cretin [12:05]: got 1% on a RIMM trade insted though
Treacherous_Cretin [12:05]: what a crap market
Treacherous_Cretin [12:05]: worse than watching world cup soccer
rw [12:06]: TC TC how aboout th dog BUCY
Treacherous_Cretin [12:06]: BUCY a dog?
rw [12:06]: things are turning down macd going down etc - forget requet - looked at wrong chart LOL
rw [12:07]: nester -----That areticle tells it all 16% porobaly on target
Treacherous_Cretin [12:07]: It is a great trading stock. Moves a lot more than most
rw [12:07]: Sorry TC no BUCY is great stock -----forgot to take meds ----sorry kinda edgy LOL
rw [12:07]: Yes I have made a lot of money on BUCY..
Hoecake [12:07]: lol rw....meds....
rw [12:08]: (hitting fingers with TV control)
Treacherous_Cretin [12:08]: was a good buy earlier now in middle of nowhere
rw [12:08]: good way to decribe it tc....
Treacherous_Cretin [12:08]: could [and should] drop a bit, but the safe entry for me is gone
madriver [12:08]: nester ...I think we get used to 10% and if we move to 8%........lower expectations lets the market move
rw [12:09]: Please tell us when you see it TC
Treacherous_Cretin [12:09]: maybe a bounce at 54ish, but I don't think I would touch it now
Treacherous_Cretin [12:10]: starting trades at this time of day is a good way to get chopped up
Treacherous_Cretin [12:10]: I don't usually start any after 11:30 am or before 2-2:30pm
Treacherous_Cretin [12:12]: Market has no trend [look at belt buckles, TRIN, and A/D] plus no volume
Treacherous_Cretin [12:13]: logic would say it is safe to build shorts here....so that means they will blowtorch them all with a spike over s&p 1100
Treacherous_Cretin [12:14]: That's what I see and that's why probably no trade = the best trade right now. Besides I feel like hell anyway and don't have the mental energy for trading today I guess.
Treacherous_Cretin [12:14]: May check in later
Treacherous_Cretin [12:15]: bye
Hoecake [12:15]: laters tc
teycir [16:17]: SPY 10Jul17 P 109.00 dropped -35%, is that due to time decay
teycir [16:17]: ?
Hoecake [12:18]: I would guess, they expire friday, whats your Theta at?
rko [12:20]: Option premiums will probably decay about 10% an hour from now until Friday.
Hoecake [12:20]: I would guess both your Beta and that the SPY did not move in your favor
rw [12:21]: tc: will e mail you my phone number sure would like to talk with you Hope you get better quick
Hoecake [12:22]: Looks like Theta is at .14
teycir [16:24]: I'm down -1400 us dollars on this, bought puts yesterday at 0.72 now they are worth .55
teycir [16:24]: I'll hold position, I think there is maket proce manipulation
Hoecake [12:24]: That sounds about right .14 loss for Theta, and then stock has moved against you about .20
Hoecake [12:25]: Just remember tomorrow you will lose another .15 to .20
Hoecake [12:25]: unless spy moves in your direction
teycir [16:26]: If today nothing changes in the price I'll sell today before close
Hoecake [12:27]: Out XLF paper from this morning, up .5%
Hoecake [12:27]: In at 14.74 out at 14.81
Hoecake [12:28]: moving to slow
madriver [12:36]: teycir...why do you think its manipulated?
ortrade [12:38]: Exit THO -44p
Hoecake [12:39]: BAC trying to run away
teycir [12:43]: Madriver : Because we have bad news and spy prices are up
ortrade [12:44]: Does anyone know the link to Gar's recorded webminar?
teycir [12:47]: And yesterday spy went up +1.5% and my spy put was 0.82 at close, today spy is up +0.20 and my spy put is at 0.4, even with a theta down this does not eplain -50%
rw [12:54]: "delta" a 90 gives you almost the sme movement as the stock... lower like 50 put moves half as much as the stock
rw [12:54]: I think on webinar when you pay you get the password and website -----not sure tho
ortrade [12:57]: I meant for yesterday free webminar. Got pass but could not attend.. the recorded webminar is on different link then live..
nester [12:59]: ortrade - there will be an email that comes out to all those that signed up that will give the details
ortrade [13:00]: thanks nester.
forrestww [13:00]: http://www.omnovia.com/event/96601278786078
Password: Event22
i don't know if this will get you to the recording, but it was the link
Hoecake [13:01]: I wanted to get the password to since it was a free webinar,
ortrade [13:01]: forrest, this won't work for the recording.
forrestww [13:01]: sorry
ortrade [13:04]: thanks for responding forrest.
forrestww [13:05]: no problem
teycir [13:05]: spy turning down
teycir [13:06]: hog slaughter began
madriver [13:08]: what boring day of trading so far.......
madriver [13:09]: the vix must be minus by now
Sandman [13:10]: Vix is -0.14 -0.57%
nester [13:11]: short ERX 28.30
forrestww [13:12]: neve looked at vix before what the important levels to look for?
nester [13:12]: short VVUS 12.63
Sandman [13:13]: It shows how much fear is in the maket.
madriver [13:14]: volitility.......fear
madriver [13:14]: higher the vix usually is good for trading
forrestww [13:14]: thanks guys
nester [13:16]: Andrew not here?
madriver [13:16]: I believe the vix over 20 to 35 are good trading days......Nester correct me if I'm wrong
madriver [13:17]: he left a while ago
nester [13:17]: i was wondering. not that much being posted... lol
madriver [13:18]: yeah....quite..
forrestww [13:19]: thanks mandriver
nester [13:19]: lol...
madriver [13:19]: no problem....Nester do you agree
nester [13:19]: with?
madriver [13:20]: anything over 35 you'll probably have really wild swings
madriver [13:20]: the vix stuff I just posted
madriver [13:20]: madriver [13:16 (USA)]: I believe the vix over 20 to 35 are good trading days......Nester correct me if I'm wrong
madriver [13:20]: where is knight when we need him
nester [13:21]: it sounds correct. don't really follow the vix that much though
picker304 [13:21]: 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 [13:22]: that looked like the bulls took that last gasp of air before sinking right then...
madriver [13:22]: I forgot you'r worried about undemployment
madriver [13:23]: strike the d
forrestww [13:23]: picker it looks like i can't fight you and carr both, i surrender
nester [13:23]: not worried. just trying to calculate that in. what they report vs what is real...
picker304 [13:23]: Does that mean you're staying forrest?
madriver [13:23]: i was jk
nester [13:24]: forrest - you're going to become one of us?
forrestww [13:24]: yes
picker304 [13:24]: Yeah!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
madriver [13:24]: can we pick on you?
forrestww [13:24]: first of the month
nester [13:25]: i would try to run in better circles than those two though... lol
picker304 [13:25]: Manriver Why not you pick on everybody else LOL
forrestww [13:25]: be carefull what you wish for mandriver
madriver [13:25]: i mean for the money you can't go wrong...There is so much crap out there it is unbelievable and what a waste of money too.....
picker304 [13:25]: lol
madriver [13:25]: I'm not a mandriver
picker304 [13:25]: lol
madriver [13:25]: they doesn't sound right
nester [13:26]: i like that name...
madriver [13:26]: okay nestea
picker304 [13:26]: neither does madriver J/K
madriver [13:26]: picker....do you know what madriver is?
picker304 [13:27]: Gonna change my name to "little shepard boy"
picker304 [13:27]: Can say i do
picker304 [13:28]: Can't*
madriver [13:28]: you do?
picker304 [13:28]: I don't
madriver [13:28]: it's a river that is mad
madriver [13:28]: no actually it's just a high end canoe company...have one cause I'm rich
picker304 [13:28]: That was gonna be my first guess
madriver [13:29]: not
picker304 [13:29]: lol
Sandman [13:29]: How do you know it could be a ma driver.
picker304 [13:29]: Forrest better see you here after a week or I'm a comin' after you
madriver [13:30]: i just look at my canoe....
madriver [13:30]: forrest....this is actually a relatively sane stock chat room.......if you ever tried others you would know what I mean
teycir [13:31]: Do you think the market going to rally again today?
madriver [13:32]: rally........like yesterday.....?
nester [13:32]: like yesterday, no
teycir [13:32]: still sow going up?
teycir [13:32]: dow
madriver [13:33]: nester...what do you thinkn?
forrestww [13:33]: like i told you picker you convinced me, and yes this so much crap out there mandriver, that's why i am always so tentative
picker304 [13:33]: No it is not It is going to sell off by 200 points and I am exiting my faz for a 75+ profit he he
teycir [13:33]: I'm praying for a sell off
nester [13:33]: lol... you know my answer. i'm sticking to my answer from before the bell. -60 or so
picker304 [13:34]: Well mad is the only one that gives crap here but you can always block him LOL
madriver [13:34]: okay I go to 35.25 on the dow
madriver [13:34]: block who
teycir [13:34]: your forcast for the S & P 500 ?
teycir [13:35]: forecast
picker304 [13:35]: I say either below 10374 or above 10374
nester [13:35]: s&p down -0.6
madriver [13:35]: i believe i said 1150 however boy it's having trouble breaking through 1100
picker304 [13:36]: Lets go work awhile be back to harrass you guys later
teycir [13:36]: I predict 1090 max
madriver [13:37]: forrest you can block anyone like me....rw blocks me but he loses out on all my wisdom!!!
madriver [13:37]: teycir ....we're over 1090???
teycir [13:37]: 1097.4
madriver [13:38]: are you talking about today?
madriver [13:38]: we're over your max?
teycir [13:39]: After yeterday's rally and today bad retail sales we should not have more than +0.5% today
jolox [13:40]: Nester....you were right on CIEN....certain tech stocks are on a tear.....up over 4% today....CSCO...EMC leading the pack.....storage and server companies very hot...STX..STEC...XRTX....other hot ones...QLGC..QCOM...TLAB...CDNS...MENT....these stocks will lead the rally...out and up.
madriver [13:42]: boy orex is itching for a short
madriver [13:43]: not now but it's having quit a run
nester [13:45]: jolox - look at SOMX if it starts to get a some good volume, over 4.5million, that should run up to $4 easy if not higher
forrestww [13:45]: i looked at my indicators on orex they all headed south on the 2min
ortrade [13:46]: FOMC at 2pm.
jim [13:48]: Nester volumn looks critical to the somx play without vol it may set right on its 200 moving average
jim [13:49]: test
nester [13:49]: jim - exactly... that is why it fell yesterday. i just missed it this morning. wasn't watchin it
nester [13:50]: should have placed an alert on it... oh well
jolox [13:50]: Nester..I don't know about SOMX.....in overbought area...look for the last 2-3 months at how it has tried to break the 20 ma and failed on daily chart....if it breaks over the 20 ma...than to the moon....Alice.
jim [13:51]: looks like we are headed south
nester [13:52]: it was trading at the low $4's before the FDA approval. after that, it skyrocketed only for it to fall back into the $2's?
teycir [13:52]: Oh dear, spy turning finally in my favor
teycir [13:52]: sell off of spy
nester [13:53]: FAZ finally movin north
nester [13:54]: lol.... i'm soooo short this market. i need a red day or ten...
jim [13:55]: out faz calls from yesterday +26%
nester [13:55]: good jim
ortrade [13:55]: SPX hit the uptrend line on 5min across multiday
jim [13:56]: test
moby [13:56]: yecir
Treacherous_Cretin [13:56]: did not realize today is beige book day
Treacherous_Cretin [13:56]: no wonder market is terrible
jolox [13:57]: retail sales figures
Treacherous_Cretin [13:57]: no jolox they did not move the market much
nester [13:57]: TC - it isn't showing that on the calendar
Treacherous_Cretin [13:57]: 2:15 pm today is fed minutes
madriver [13:58]: market doesn't care...still going to close green
Treacherous_Cretin [13:58]: http://biz.yahoo.com/c/e.html 2pm excuse me
Treacherous_Cretin [13:58]: probably so madriver
jim [13:58]: agree mad we will close slightly green
nester [13:58]: thanks... they are showing it different
Treacherous_Cretin [13:58]: I do believe they might blowtorch the shorts
ortrade [13:58]: on nasdaq it is posted at 2.pm http://www.nasdaq.com/asp/econodayframe.asp
nester [13:59]: 2:00 PM Minutes of FOMC Meeting
Treacherous_Cretin [13:59]: what calendar do you see it differently on?
nester [13:59]: http://biz.yahoo.com/calendar/
Treacherous_Cretin [13:59]: they usually just regurgitate the same dumb script they have been using for over a year now
madriver [13:59]: this is for nestea http://finance.yahoo.com/banking-budgeting/article/110057/a-strong-wall-of-worry?mod=bb-budgeting
jolox [14:01]: The excitement over Intel's profit forecast was tempered by a report showing shoppers cut back on spending for the second straight month.
The Commerce Department said June retail sales fell 0.5 percent. That's worse than the 0.2 percent decline forecast by economists polled by Thomson Reuters. However, excluding autos, sales were down 0.1 percent, in line with expectations.
Shares of retailers including J.C. Penney Co., Macy's Inc. and Target Corp., all fell after the monthly sales report.
Retail sales are critical to the economic recovery because shoppers account for a large amount of U.S. economic activity. High unemployment has kept customers out of stores and could hold retailers' earnings in check.
The sales report added to the mixed signals on the pace of a recovery. Economic reports have largely showed a rebound is slowing, but recent earnings have largely topped expectations. Companies have also been optimistic in their outlooks for growth during the second half of the year.
Treacherous_Cretin [14:02]: Bucy was a good buy on that dip
nester [14:02]: love this sentence... Though Monday's rally was modest — just 18 points for the Dow — it still was a rally
Treacherous_Cretin [14:02]: should move up towards 55 I think
madriver [14:02]: gotta love that......18 points a rally....crazy
madriver [14:03]: desperate for something to write I guess
Treacherous_Cretin [14:03]: yeah I saw something about gold being off 60 cents like that was forboding in some way
nester [14:03]: trying to sell it...
Treacherous_Cretin [14:03]: 1200 an ounce and -60 cents is newsworthy?
nester [14:03]: down is a correction and up is a rally...
jolox [14:07]: Also...BP stopped pressure test on leaking well.....may have serious probs.
Treacherous_Cretin [14:08]: If you held a gun to my heaqd, I would say we close over s&p 1100 today
picker304 [14:09]: test
Hoecake [14:10]: Cramers NVDA is falling off lol
Treacherous_Cretin [14:12]: can't believe anyone watched that dope anymore
nester [14:12]: lol...
Treacherous_Cretin [14:12]: be well folks
Treacherous_Cretin [14:12]: bye
nester [14:12]: c'ya TC
Sandman [14:14]: nester are you still in FAZ?
nester [14:14]: yup... added calls earlier to it
ortrade [14:14]: 10.03 post I predicted sideways till FOMC, take a look.
nester [14:15]: i didn't realize that was the beige book... would have sat longer
ortrade [14:16]: they will try to rebound market at daily SPX low...
picker304 [14:16]: Dow teasing us at daily support what you guys think? don't wanna break through
nester [14:17]: sticking with my earlier prediction nester [8:06 (USA)]: this morning starting to feel like a down day -60 or so
picker304 [14:18]: I agree (can't believe I said that cuz lol)
picker304 [14:19]: but if it pops support might dive lower one never knows in this market
jolox [14:19]: NEW YORK—U.S. stocks slipped on Wednesday after the Federal Reserve said further monetary stimulus measures may be needed and rolled back their economic outlook, threatening to snap a six-day winning streak.
Minutes from the last Federal Reserve meeting showed policy makers raised the possibility that new stimulus measures may be needed given the "relatively modest" worsening in the economic outlook. However, Fed board members agreed that no further accommodation was needed at the time. The Dow Jones Industrial Average dropped 26 points, or 0.2%, to 10339. after the release of the FOMC minutes, as investors digested the bleaker economic outlook.
ortrade [14:19]: In general it is saver to hold during pullback when position is proficient then to exit at critical levels. When exiting it often happens the pullback bar was fake and it is where stock spikes.. Entering after that is suicidal. The reason is not commision but the spread between buy and sell associated with exit and reentry and very wide bars.
picker304 [14:20]: News abroad?
forrestww [14:20]: years ago, a good friend of mine told me to get into OXY being somewhat hard headed i didn't, something just told me tl look at it now, looks like a good stock to play options on. what you say anyone?
jolox [14:21]: look at spread.
madriver [14:23]: stupid f
madriver [14:23]: stupid FED screwed things up for now
picker304 [14:25]: Support breached put your helmets on ????
jolox [14:26]: OXY...AUG 70 CALL 12.35......spread .15....delta .87
nester [14:26]: when we break below 10k and 1040, should be a great ride down...
forrestww [14:26]: thanks jolox
karenbcz [14:27]: Yeee haaa! Ok boyz!! Get ready for $18 FAZ .... again.
karenbcz [14:27]: :>)
Andrew [14:28]: I see sellers finally emerged. Still low volume though.
madriver [14:28]: don't get too excited
forrestww [14:28]: i don't know much about spreads but, i will put this one watch to see if respects its channel
jolox [14:29]: 80.00 stock with good vol...earnings and divd ...will be expensive.....spread good
ortrade [14:29]: Andrew, It all worked out according to my 10.03 post. Sideways till FOMC and breakout after.
ortrade [14:29]: meant breakout in FAZ.
picker304 [14:29]: I agree mad just don't know about this train
madriver [14:29]: sure you did
picker304 [14:30]: lol
ortrade [14:31]: There were too many FAZ long holds from the morning gap up on FAZ and MM had to move the price down to get rid of the them.
Andrew [14:31]: long FAS 22.50 (triple position)
forrestww [14:32]: sorry jolox you meant spread as in bid and ask am i right?
jolox [14:32]: A low spread...difference between bid/ask.....means you make money sooner at less cost.Why be .50 in the hole from the start x number of stocks you buy ?
Andrew [14:33]: long SOMX 3.65 (triple position)
forrestww [14:33]: i see says the blind man
Andrew [14:34]: Good thinking ortrade.
jim [14:35]: L FAS calls $22 $3.05 Aug
jolox [14:36]: Andy.....did you read the previece comments on SOMX THAT WERE POSTED ?
madriver [14:36]: looks like nester might be wrong.....
nester [14:36]: about?
Andrew [14:36]: Nope, I better go look back and read them
madriver [14:37]: going down hill fast
nester [14:37]: wait. will fall fast once we breach the 10k mark
Andrew [14:37]: out 1/3rd SOMX +2.2%
madriver [14:38]: gonna be hard to break the 10k mark if we keep going. up.....jk
nester [14:39]: lol... its harder then...
Andrew [14:39]: You don't think we might have put in the low of the day 10 minutes ago?
nester [14:39]: no. see it around -60 today
teycir [14:41]: We need nerves to trade, went from -1400 usd to + 2000 usd today on spy put 109 17jul
Sandman [14:41]: I'm with nester, no matter what he says!
kotarah [14:41]: DOW ^ 6 days up, down more than 60 today
Andrew [14:41]: Wow, wild ride. Glad it turned back in your favor!
teycir [14:41]: closed at +2000
nester [14:41]: lol... thx Sandman
rw [14:42]: teycir welcome - You must be new
jolox [14:42]: Nester...next resistance for DOW....10248
teycir [14:43]: yes, first time I chat, wanted to be sure all participants have manners, which is the case
JayBird [14:43]: Resistance or support?
ortrade [14:43]: market makers is getting rid now of freshly joining in FAZ longs that followed the green bar at 2.20pm..
rw [14:43]: Yes: Teycir: This is a very disciplined, caring room.
Andrew [14:44]: added to FAS 22.62
madriver [14:44]: we care!!
rw [14:44]: Mr. Carr and Picker are the big brass here - nice people.....Gar is the owner - he will be here last hour
JayBird [14:44]: Teycir....it doesn't get any better than this forum. We have standards that are hard to match.
teycir [14:45]: It had to turn in my favor, price was maniplulated, we cannot grow after yesterday's rally and todays bad news
madriver [14:45]: Carr and Picker are nice.....wow that soooo beautiful!
Andrew [14:45]: I'm not sure it was manipulation - more just conflicting information out there (the economic reports vs. what Intel is seeing).
rw [14:45]: Like Shepherds....
rw [14:46]: madriver gets emotional sometimes.
Andrew [14:46]: There are lots of very bullish investors out there still.
JayBird [14:46]: Sandman...my slow connection won't allow me to private chat :-(
kotarah [14:46]: I have never sucked up RW
madriver [14:46]: rw did you read what I wrote several days back?
rw [14:46]: Kotarah speaks with straight tongue too.,
nester [14:46]: the bulls will be crushed when the money returns
Andrew [14:47]: Or the bears will be crushed. You never know.
rw [14:47]: I have read a lot of things you wrote madriver - I probably did...
Sandman [14:47]: O.K. I'll private chat you when you get home.
madriver [14:47]: it was something on the nicer side
Andrew [14:47]: The sideline money can destroy the bears if it chooses to.
teycir [14:48]: Many times I noticed nonsense in the market price that get corrected at the end of the day, I do not think that market makers, hedge funds and big players do not have a role in this
madriver [14:48]: who is sucking up?
rw [14:48]: I have learned to turn the other cheek - not just talk about it---also to just say GO and sin no more....
rw [14:48]: thanks madriver.......
kotarah [14:48]: I dont
nester [14:48]: Andrew - agreed, just don't see them driving this garbage truck more up hill
jolox [14:48]: Nester....$SPX.X ...now sitting on up trend line at 1089.24.....now at 1090.41....UTL IS SUPPORT...will probably go up off of it.
Andrew [14:48]: Nobody sucks up, it's all good.
madriver [14:49]: sin......I'm a sinner
madriver [14:49]: bad man
Andrew [14:49]: Yeah I'm still very bearish too at the current levels. Rallies are suspect until we break the medium-term downtrend.
Sandman [14:50]: Your not alone madriver.
nester [14:50]: where do you show that at? i had it at 10250
madriver [14:50]: sand....are you a badman
jolox [14:51]: $SPX.X.....NOT SPY
Sandman [14:51]: There was only one who never had a sin.
madriver [14:52]: I made a stupid trade into BPZ
Andrew [14:52]: Me
madriver [14:52]: his name was madriver
rw [14:52]: Right Sandman.......and you know him.
Andrew [14:52]: MEE it might be bouncing here
kotarah [14:52]: should have bought kerx
madriver [14:52]: dump trade
rw [14:52]: we shoulda held rsh
madriver [14:52]: dumb
rw [14:52]: i got oout because andrew did
Andrew [14:53]: I'm really happy with all my entries and exits in RSH today. I wouldn't have changed a thing given how things looked at the time.
rw [14:53]: i had aapl twice at 250 a share ---
Andrew [14:54]: If I had been here mid-day I would have re-shorted on the failure above 21.30 though around 1:30pm.
madriver [14:54]: orex finally pulling back as I said earlier.....what a call
madriver [14:54]: who does that sound like?
jolox [14:55]: $SPX.X being pinched between DTL and UTL....todays high...1099.08 bounced off DTL....LOW is now on UTL.....HAS TO BREAK ONE OF THEM...to move
lindo [14:55]: qcom
kotarah [14:55]: should have bought it yesterday
madriver [14:55]: should of listened to kot....now I have to take the short side
Andrew [14:56]: out 1/4th FAS +1%
kotarah [14:56]: They were all posted yester morning early OREX SQNM ARNA
Andrew [14:57]: out rest of FAS +1%
Andrew [14:57]: long FAZ 14.22 (triple position)
madriver [14:57]: i know....didn't listen
Andrew [14:58]: added to FAZ 14.23 (double position)
Sandman [14:58]: Andrew, what happened to ( That's it for today)?
Andrew [14:58]: My plans changed so I was able to come back home to trade.
Andrew [14:59]: I'm probably going to be gone all day Thurs. and Fri. though.
madriver [14:59]: hey nestea I think we're headed for green....
madriver [14:59]: thanks for your schedule
Andrew [15:00]: lol
nester [15:00]: won't matter where we go, will close red
Andrew [15:00]: out another 1/3rd SOMX +3%
ortrade [15:00]: Andrew what conviced you to enter FAS earlier.
Andrew [15:01]: The market was getting pretty overbought right near 20-period moving avg. heading into 3:00pm which often causes some interesting action.
madriver [15:01]: nope
Andrew [15:01]: Oh nevermind that was for FAZ just now.
Andrew [15:01]: The FAS entry was based on a bounce from a pivot point level in the S&P.
ortrade [15:01]: I meant for FAS
Andrew [15:02]: at about 109.00 in SPY
Andrew [15:04]: out rest of SOMX +3.6%
Andrew [15:04]: short SOMX 3.78
ortrade [15:04]: thanks.
picker304 [15:05]: Market up up and away Man just had my second round of crow meat and it tastes terrible..again
Andrew [15:05]: short VVUS 12.48 (triple position)
JayBird [15:06]: Killing those crows with a crow bar?
forrestww [15:06]: looking at cnbc talking about how much money the gov is spending, thats why i sent my ex back to england LOL
Andrew [15:07]: short MBI 7.09 (triple position)
Andrew [15:07]: tripled up on SOMX short 3.78
Andrew [15:08]: lol
madriver [15:08]: problem is England is in worse shape
Andrew [15:08]: added to MBI short 7.07
ortrade [15:08]: Seems hard to pick these turning points in intraday scalping entering from shorts to longs in stocks.
Andrew [15:09]: added to VVUS short 12.48
JayBird [15:09]: I've heard Brits are taxed at a 80% rate and have little incentive to keep their shops open....if something more interesting like a picnic comes along
ortrade [15:09]: also wander if SP wil drop below 1087.81 today
stkmrkt [15:10]: madriver...Actually, England's not as bad as you might think. I lived there for 8 years. The only problem is you have to suck on a lemon before you talk.
jolox [15:10]: Picker you want to sell me those CSCO calls you got ?? They should be burning a hole in your pocket.
Andrew [15:11]: added to SOMX short 3.74
forrestww [15:11]: i have spent many years stationed in england, i don't think many people get taxed like them
rw [15:11]: aapl again soon long
Andrew [15:11]: What price do you like AAPL at rw?
jolox [15:12]: Taxes....go to Sweden.
kotarah [15:12]: Soon we will make Sweden look like it went to Kindergarten
JayBird [15:12]: Taxes and socialism must go hand in hand
rw [15:13]: when the 3 cross the 13 andrew - almost there on five minute
rw [15:13]: also doji now.....
rw [15:13]: be a quik trade for 20 40 cents
forrestww [15:14]: or iceland for taxes
ortrade [15:14]: wait till they run out of trees, Jaybird..
Andrew [15:14]: out 1/4th VVUS +2.2%
Andrew [15:14]: out another 1/4th VVUS +2.6%
rw [15:15]: wait on aapl
rw [15:15]: pm long soon
madriver [15:16]: Yes I've been to Britian many times ...my sister is married to a lymie......It's a wonderful place if you like taxes and pretty crappy healthcare. The weather sucks to boot but I like it!!!!
madriver [15:17]: i like the thatched roofs...they're pretty cool
Andrew [15:17]: out another 1/4th VVUS +7%
Andrew [15:17]: Wow huge drop there
kotarah [15:17]: bottom fell out of VVUS
Andrew [15:17]: out rest of VVUS +6%
Andrew [15:18]: Stops must have been taken out
Andrew [15:18]: That was nice
forrestww [15:18]: mandriver i love the pubs there use to take my shepherd there for a drink before walkng him
Andrew [15:18]: back short VVUS 11.85
Sandman [15:18]: I can't understand why they pay the royal family for doing nothing.
kotarah [15:18]: need LONG
jolox [15:19]: Most of the women .....I have met in England and Singapore.....look like Laurel or Hardy.
Andrew [15:19]: added to VVUS short 12.03
madriver [15:19]: jolox....come on...chicks in england....are no different than here
Andrew [15:19]: added to VVUS short 12.04
ortrade [15:20]: Exit MLHR +100$p
madriver [15:20]: sandman...the reason I always get for the queen is that she brings tourism.......nice
Andrew [15:20]: added to VVUS short 12.01
jim [15:20]: wow this thing is really jumping around during the last hour
picker304 [15:20]: Well gotta eat crow again. Thats bad tasting meat
Andrew [15:21]: VVUS had a huge trap door there
jolox [15:21]: Sorry...tall and skinny with big adams apples...or short and heavy.
kotarah [15:21]: Took out stops
jim [15:21]: out FAS $22 calls 3.20 +2.5%
Andrew [15:22]: added to VVUS short 12.12
forrestww [15:22]: the royal family is a legacy the brits are proud of.
stkmrkt [15:23]: Went long VRUS @ 11.93. Must be nuts..
jolox [15:23]: Picker.....learn to draw trend lines and you will have idea of what mkts are going to do.
forrestww [15:23]: i always had a great time there
madriver [15:23]: they shouldn't be too proud of BP....maybe the queen should shell out a few bucks to clean that mess up
Andrew [15:23]: I think that's a good call. The big sellers might be out now and the buyers might accumulate for the rest of the afternoon.
kotarah [15:24]: they wont let go
jolox [15:24]: ELVIS was our king.
Andrew [15:24]: added to FAZ 14.14
kotarah [15:24]: made 6 gs on KERX
Andrew [15:25]: out 1/4th SOMX +2.1%
forrestww [15:25]: mandriver don't say that to a brit you"ll start the revolutoin all over
madriver [15:26]: did already to my brother in law
Andrew [15:26]: added to FAZ 14.06 (double position)
madriver [15:26]: brits should be happy we saved them from the Germans....end of story...they should pray to us
Andrew [15:27]: I still haven't gotten over the War of 1812
Andrew [15:27]: j/k
Andrew [15:29]: The sellers are back in VVUS it seems
kotarah [15:29]: yes taken back
kotarah [15:30]: Nester
lindo [15:30]: lol
Andrew [15:30]: There could be some good support in the 11.80s.
forrestww [15:30]: when in a taxi over there the driver said you americans never learn anything, i told him we learned not to march into battle with bright red uniforms on and standing up LOL
kotarah [15:31]: NESTER
Andrew [15:31]: out MBI -0.35%
madriver [15:32]: I would kicked that taxi driver right where the sun don't shine
Andrew [15:32]: added to VVUS short 12.05
jim [15:33]: +30 DJI close
Andrew [15:34]: out half FAZ -0.37%
jolox [15:34]: What do you do if your English taxi driver is Lennox Lewis ...tough guy ??
forrestww [15:35]: run
kotarah [15:35]: huge vol on VVUS ANDREW
Andrew [15:35]: out 1/3rd VVUS tiny loss
madriver [15:35]: kick him where the sun don't shine
Andrew [15:36]: added back to VVUS short 12.00
madriver [15:36]: call jolox for help
jolox [15:37]: I guess after that ...he would be 1 and 0 as a taxi driver.
kotarah [15:38]: what part of hugh vol you did not get
Andrew [15:38]: added to VVUS 12.23
Andrew [15:39]: added to VVUS short 12.29 (double position)
madriver [15:39]: jolox...what does that mean....sound like a Dr. Seuss character...I think it is actually
stkmrkt [15:39]: Out of VVUS at 2.5% profit
rko [15:39]: All the good earnings stocks are STRUGGLING... AA, INTC, CSX... all dying. Bottom could drop out of the market soon.
rw [15:39]: aapl 25215 out 25228 13 cetnts
forrestww [15:40]: i am not in love with OXY but intriqued with it a an stock to play options
Andrew [15:40]: added to FAZ 14.16 (double position)
rko [15:40]: I am thinking Dow -180
jim [15:41]: L ZLC 1.66
Andrew [15:41]: out half VVUS -0.41%
madriver [15:41]: rko...come on....
jolox [15:41]: Forrest...put a 8-10% stop limit on it and give it a shot.
rw [15:42]: no more appletoday
forrestww [15:42]: thanks jolox
Andrew [15:43]: out rest of SOMX +1.6%
Andrew [15:43]: added back to VVUS short 12.20 (double position)
stkmrkt [15:43]: I have major resistance on SPX at 1111 - then rollover and head south. Opinions?
rko [15:44]: I don't think SPX will get to 1111
jolox [15:44]: 1099.26
rw [15:44]: i watch the tick is there a better minute by minute direction for movement of the averages////
rko [15:44]: Couldn't get through 1100 today
rw [15:44]: ?????
Andrew [15:44]: I think it will either not get there or will go a bit beyond.
Andrew [15:45]: Maybe 1120
LEECO [15:45]: Very late getting back-more legal matters taking up time-how was trading today-I didn't do any
Gar [15:45]: Good afternoon.
Andrew [15:45]: Kind of choppy morning Leeco but there were some tradeable trends in the afternoon in both directions
jim [15:46]: L ICO 4.26
JayBird [15:46]: Hey Gar....
Andrew [15:46]: There was also a nice uptrend from 10:30am to 11:30am
LEECO [15:46]: Good ? Afternoon GAR
Andrew [15:46]: Why do you think the volume is so low Gar? People waiting for more companies to report earnings?
ortrade [15:47]: After FOMC, FAZ definitely spiked nicely.
rw [15:47]: aapl 251.65 out 25178
rw [15:47]: 40 second trades on aapl
Gar [15:47]: rw that's ridiculous.
Treacherous_Cretin [15:47]: rw that is terrible
Treacherous_Cretin [15:47]: the spread on aapl is bigger than that oftentimes
madriver [15:48]: .13 cents on apple....
madriver [15:48]: lol
Andrew [15:48]: That's not even a 0.1% gain I think. I hope that was cutting a losing trade and not taking a winning one.
Mckoan [15:48]: Let's take this market down. Long SDS at 33.52...
LEECO [15:48]: rw-too muhrisk for reward
rw [15:48]: 700 shares - I will take it LOL got scared got out thanks for comments
Gar [15:48]: Andrew, I am not sure, but most likely they all remain in wait-mode to see how things pan out. Pobably yes, waiting for more earnings. Which is stupid, after lots of earnings then they will say earnings is over so no reason to trade.
rw [15:48]: intened to stay longer bu t all signs looked good....
moby [15:49]: already forgotten
Gar [15:49]: rw, that is a terrible terrible trade. You will lose your ass trading like that, I all but guarantee it.
Treacherous_Cretin [15:49]: you could have bought 2000 shares of BUCY after FOMC when I mentioned it and bagged a thousand dollars
moby [15:49]: was it a hook play?
rko [15:49]: Hmmm, a-lot of buyers at 1090
moby [15:49]: the rw hook
Andrew [15:49]: Pretty choppy last hour.
kotarah [15:49]: Hi moby
rw [15:49]: took a few more chances this afternoon - proceeds going to a lady that lost husband and has just a few dollars left for groceries for the month........
Andrew [15:50]: out FAZ -0.55%
jolox [15:50]: On the SPX......todays high bounced off DTL at 1099.08....the low of day is on UTL at 1087.68....we are now at 1093.23......trapped in between..both trend lines
madriver [15:51]: nester.....we're going greeny
madriver [15:51]: praise me once we go green please
Hoecake [15:51]: these market is so confused.... as I am
LEECO [15:51]: rw-$176,000+ to get $91-commission??
Treacherous_Cretin [15:51]: really thought they might have got s&p over 1100 to scorch the shorts
picker304 [15:51]: Well I've ate crow two times of late nasty tasting meat
madriver [15:51]: that's pretty nuts
LEECO [15:52]: BOZOS beating the market up to close ghreen?
Gar [15:52]: Leeco, bozos have been desparately trying to jam this thing higher all day long.
rw [15:52]: thanks madriver - if you are refering to me.....thanks
Andrew [15:52]: added to VVUS short 12.21 (double position)
madriver [15:52]: here we go
madriver [15:53]: i wasn't ...looking at tape
Treacherous_Cretin [15:53]: Gar why is the s&p change showing incorrect data?
rw [15:53]: ok - thanks for come back
Andrew [15:53]: There was a huge trap door in VVUS Gar - bounced from the 11.50s up to 12.35.
jolox [15:54]: no green.....need something to make mkt go up......no putt...putt....mkt dwn.
kotarah [15:54]: I asked that a month ago thought it was stuck
Treacherous_Cretin [15:54]: looks like a decimal is too far right or something
Andrew [15:55]: Shoot, had a bad exit on SOMX short
kotarah [15:55]: I noticed it a while ago
jim [15:55]: L FAZ calls $14 @1.71 Aug
Treacherous_Cretin [15:56]: I don't usually look at the indices on this program. Just noticed it was weird
LEECO [15:56]: rw-I'm too long a buddy to see you hurt yourself and I applaud your wanting to help the lady in distress God bless you
kotarah [15:56]: Comes down like that every day so far ANDREW
kotarah [15:56]: it's a tick above
Andrew [15:56]: That's an interesting observation.
jolox [15:57]: Leeco....like a WHITE KNIGHT ??
Andrew [15:57]: out half VVUS +1%
jolox [15:58]: GREEN
LEECO [15:58]: I have to find a BK lawyer in Delaware to represent me in claim with Clearpoint in Chapt 11
Andrew [15:58]: added back to VVUS short 12.11
Gar [15:58]: TC, the S&P, it is because our feed doesn't give us the right values for the S&P for some reason. NAS and Dow are always correct. Have never been able to solve that.
jolox [15:59]: RED GREEN DUCT TAPE
Treacherous_Cretin [15:59]: okay. No problem
LEECO [15:59]: There is green I predicted on DOW
rw [15:59]: troubling Leeco......Pension guarranty corp may be the way to go
Gar [15:59]: Bozos in true form today.
Treacherous_Cretin [15:59]: I take BUCY short for overnight
Andrew [15:59]: out rest of VVUS +0.3%
Treacherous_Cretin [16:00]: probably a dumb trade
rw [16:00]: have a good evening see all tomorrow
Andrew [16:00]: That could make for an easier day tomorrow in terms of short entries.
ortrade [16:00]: Exit FAZ -375$p
picker304 [16:00]: Man all this for 5 points LOL
Andrew [16:01]: We almost had an engulfing doji candle
LEECO [16:01]: S&P 1095.17
ortrade [16:01]: Today was +705$p on faz but it hit my exit at +225$p and did not want to exit with small profit. very nasty..
Treacherous_Cretin [16:01]: bye people
moby [16:02]: hi kotarah, sory man, was with a customer, now making chicekn kabobs, gotta go, best to you dude
ortrade [16:02]: From now on will stick to the nasty exit no matter how much the stock retraced from profit.
ortrade [16:04]: The worst formation of the day is the giant bar reversal on SP 500 5min at 3.40pm
Andrew [16:06]: The 3:45 to 3:50 candle got me out of FAZ for a loss. It was for the best though in retrospect.
ortrade [16:08]: SPY it could also have pentrated the 109 level earlier. Is there another confirmer for reversal/penetration of resistance Andrew.
Andrew [16:11]: I'm not sure what you mean, can you say it a slightly different way?
ortrade [16:13]: Oh, my comment referes to your 2.25pm entry on FAS based on SPY bounce of 109.
Andrew [16:16]: One thing I noticed which probably wasn't too significant was the volume on the candle from 2:20 to 2:25 was less than the green volume on the surrounding candles.
Andrew [16:17]: There was some accumulation slightly above 109.00, the buyers pulled their bids for a little bit to make a lower low, and then they resumed buying.
Andrew [16:18]: I also tend not to trust mid-day moves all that much as my default.
Andrew [16:19]: Another good thing for getting long was that it was right near where we bounced strongly this morning.
Andrew [16:19]: With the volume candles I mean the candles for SPY.
ortrade [16:22]: The 109 was daily open from July 13'th still the reversal and candle stick formation after the 2.20 bar as well as the volume was larger. However, so was the volume since 1.30pm to 2pm.
Andrew [16:23]: Yeah it was huge volume for mid-day but still not all that big volume though overall.
Andrew [16:24]: Volume can be pretty deceptive anyway when the overall market volume is pretty light, so I wouldn't read too much into it.
ortrade [16:25]: Volume just indicate participation in trades nothing else.
Andrew [16:27]: Overall it was a pretty sloppy day but the mid-day move down was relatively clean.
ortrade [16:29]: Overall was a broader sideways on FAZ today where prices circulated above and below the 20 and 5m MA on 5 min on moving averages changed places with preference to FAZ long. I was in long hold on FAZ and did not end positive. I need to work on my exits.
Andrew [16:31]: There's some differing currents in the market it seems like.
ortrade [16:32]: interesting idea can you be more specific.
Andrew [16:32]: 7/7 was a very clean day but 7/9 and 7/13 though similar were somewhat tricky.
Andrew [16:33]: 7/12 and today were very messy
Andrew [16:33]: There are still some sellers around now in addition to the strong buyers.
Andrew [16:35]: Normally it seems like the more sloppy sideways days we have the better chance the bulls have.
ortrade [16:38]: by current I understand the flow of something.. Days when prices respects MA's are easier to trade.. akin to 7/7 or 7/9. when prices crosses MA's it is harder to figure out how to decide on direction extent.
Andrew [16:39]: The lower the volume I think the greater the chance of sideways tough action since the automated market makers have more control and can mess with moving avg. short-term traders.
Andrew [16:40]: On many days it's best to ignore the moving avgs. or take them off your chart and instead just look at horizontal price levels.
Andrew [16:41]: You might miss out on some good momentum trades, but you can still often see them just by watching the price bars and you won't get too many false signals from the moving avgs.
ortrade [16:42]: Since the 7'th the market respected the adaptive MA on SP 500 today it crossed it the first time. Regarding MA's I use them mostly for exits not for entries.
Andrew [16:43]: Yeah I think that's the better way to use them most days unless you see a lot of evidence of clear respect that day.
ortrade [16:44]: The thing is in clean trending day MA's are ideal for exit the Alex stop is even better. In choppy trending days using MA's will wipe most of your profit.
Andrew [16:46]: It's tricky stuff. Sometimes I think you just need to guess on whether or not a particular day seems more likely to be trending vs. sideways. Then on the days you guess right you need to be able to make a lot. And on the days you guess wrong you need to be able to only lose a little bit or even make a little bit.
Andrew [16:47]: But that depends on your ability to guess right enough of the time, which can be a difficult endeavor at first.
ortrade [16:49]: yeah, that is also my conclusion. I need to go now and do some errands. Interesting disscusion.
Andrew [16:49]: Have a good one.
madriver [20:58]: Andrew....per conversation about the Gravestone Doji a couple days ago I think it was.........the opposite according to Nison is the Dragonfly Doji....pretty exciting stuff!!!
moby [20:58]: www.candlestickforum.com
moby [20:58]: has a lot of stuff reagarding candlesticks
madriver [21:01]: thanks...just taking a look at it.
moby [21:28]: mad: Gar said he will add some candlestick scans in a powerscan version
picker304 [21:49]: Hey steve when you get here just post me
28Martin07 [22:19]: I'm here rick
picker304 [22:20]: Hey buddy
28Martin07 [22:21]: this already seems like a great tool
picker304 [22:21]: Hey swing I lost you say hello to my friend
iswing64 [22:21]: Hey martni...nice to meet you..
28Martin07 [22:21]: nice to meet you
iswing64 [22:22]: picker gonna take care of you??
picker304 [22:22]: Hey we'll call you martin ok
28Martin07 [22:22]: i hope so
28Martin07 [22:22]: martin is fine with me
picker304 [22:22]: Have you practiced yet tonight?
28Martin07 [22:22]: no i haven't done anything yet
picker304 [22:22]: Hey swing is a good one here
iswing64 [22:23]: my chat stopped
picker304 [22:23]: hey the first thing you need to do is check out the tutorils section and of course I'll help you
28Martin07 [22:24]: ok
picker304 [22:24]: Read all the free stuff
picker304 [22:24]: The creator behind this is amazing but most important is the only up and up one i have ever found honesty is his policy
28Martin07 [22:25]: you said you know him?
iswing64 [22:25]: Hey pick...will catch up later...stick with pick martini,,,he's a good man...cya.
picker304 [22:25]: Met him here hes here everyday
picker304 [22:26]: Cya cuz swing thanks
28Martin07 [22:26]: lol i'm a mixed drink now...
picker304 [22:27]: Hey there is also a free webinar about how to use it. i'll get him to send you an email so you'll know when next one will broadcast
picker304 [22:27]: LOL just saw that
28Martin07 [22:27]: i'm watching the quick start demo now
picker304 [22:28]: Ok now take your time
28Martin07 [22:29]: ok
picker304 [22:30]: There are winning patterns that are amazing don't think they're listed but I'll get them for you later
picker304 [22:34]: Hey martin check these out www.garsworld.com/traps.htm www.garsworld.com/bouncers.htm
28Martin07 [22:34]: ok
picker304 [22:34]: and this one www.garsworld.com/lunardemo.htm
picker304 [22:35]: And although this one costs a little you ask me about options www.garsworld.com/bookpromo.htm
28Martin07 [22:35]: did you buy the book?
picker304 [22:36]: yes
picker304 [22:36]: Hey what are you doing at 8 pm tommorrow?
28Martin07 [22:36]: i don't have any plans
picker304 [22:37]: This is what you gotta see and its free This is new tells you what you need to know www.garsworld.com/webinars.htm
picker304 [22:38]: hey study this stuff use your papertrade account to practice and you'll soon see like i did the signup is well worth the money I ever spent dude
picker304 [22:38]: You know I wouldn't lie to you since i have to see you every week LOL
28Martin07 [22:39]: kinda scary though...i mean these trap doors happen so fast you would have to be on top of it ALL the time. it's hard for a working man
picker304 [22:40]: Hey thats just one. Thers many more You might wanna do options like me
picker304 [22:41]: I use to play the gap down stocks and averaged 2-3% week but now I play options Love them
picker304 [22:43]: Hey don't worry I'll talk to you more about it and show you how it works. I'll take care of you ol buddy
28Martin07 [22:43]: the gaps is what i'm watching now
picker304 [22:44]: Oh sorry i'll shut up
28Martin07 [22:45]: haha i can multitask
28Martin07 [22:52]: wow...a lot of info
picker304 [22:58]: hang in there bud and take your time
28Martin07 [23:00]: ok i have a question
28Martin07 [23:01]: if the dow, nasdaq, and s&p were all up or even at close...why did the nyse have a negative 35% volume change?
picker304 [23:02]: The volume indicator is avg for two years
28Martin07 [23:03]: so that indicates are recession?
28Martin07 [23:03]: our*
picker304 [23:04]: well guess you could look at it in that way definitely in a negative
picker304 [23:10]: But its not a daily indicator for entries exits etc
28Martin07 [23:11]: i see
picker304 [23:12]: anyway friend its unbelivable here and I've been in many of these the best
picker304 [23:12]: Hey if you can come on each night for a while too
28Martin07 [23:13]: i plan to do just that
picker304 [23:13]: nite nite practice your scales 2 hours before going to bed LOL
28Martin07 [23:14]: haha will do
picker304 [23:14]: Cya ol buddy we need to tell brian to get his butt on here too bye
28Martin07 [23:14]: he'll need a little more convincing than me...but i'll work on it. take care and thanks
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