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StockVision
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Forum date: 07-15-10
JayBird [0:36]: Tomorrow morning, five economic reports are scheduled to be released before the open. 1) Initial Claims (Consensus 450K), 2) Continuing Claims (Consensus 4400K), 3) PPI (Consensus -0.1%) 4) Core PPI (Consensus +0.1%) and 5) NY Fed -- Empire Manufactuiring Index (Consensus 18.0).
Tomorrow before the open look for the following companies to report: CBSH, FCS, JPM, MTOX, NXY, NVS, PPG, TCB, WWW and GWW.
Gar [0:53]: Anyone here who is new -- There is a free online seminar that explains valuable basics about StockVision. This will be re-played tomorrow night, Saturday night and Sunday night. More info is on the site -- www.garsworld.com/webinars.htm (this will give you a ton of understanding about our product here).
OtonielSalazar [0:58]: Thanks!
Gar [1:06]: Welcome. And you can go to any of the events that show the re-cast (or all of them). The whole event will show, the only difference is you won't be able to ask questions because it is not live. But you can always ask questions here the next day, etc.
Gar [1:07]: Gotta run...
carr [7:00]: Morning all
Avalon [7:02]: Morning, carr
carr [7:02]: Avalon are you off work today?
Avalon [7:03]: Just got off midnight shift.
carr [7:03]: You must be tired then
Avalon [7:04]: Little bit. I work 12 hr shifts so... I'll be hitting the bed in about an hour. Just like to check in on stuff.
carr [7:05]: I am hoping this rally will continue today
Avalon [7:06]: Yeah. It's hard to be optimistic though. I've been crushed so many times. I have been experimenting with straddles. So far, so good.
Avalon [7:08]: How long have you been trading, carr?
carr [7:08]: About 10 years, 3 years full time
carr [7:09]: 3 years in august
Avalon [7:09]: Nice. I'm still new. About 10 months. So you've been able to make a nice living?
carr [7:09]: Last year was a really good year for me, this year is a little slower
carr [7:30]: US STOCKS-Futures rise after JPMorgan posts higher profit 07/15 07:28 AM
nester [7:36]: morning all...
carr [7:36]: morning nester
nester [7:36]: NEW YORK (AP) -- Stock futures rose modestly Thursday after banking giant JPMorgan Chase & Co. became the latest company to report strong quarterly results, even as broader economic indicators point toward a slowdown.
Big gains, though, were kept in check as investors prepare for key reports on unemployment, inflation and manufacturing that will shed more light on the pace of recovery.
JPMorgan Chase easily topped earnings forecasts, following others like Intel Corp. and Alcoa Inc. in reporting strong results. The bank also cut down its loan-loss reserves, which could be a sign that mortgage and loan defaults are moderating.
However, JPMorgan's CEO Jamie Dimon still struck a cautious tone about future economic growth. Dimon has regularly been cautious about the recovery.
Ahead of the opening bell, Dow Jones industrial average futures rose 29, or 0.3 percent, to 10,335. Standard & Poor's 500 index futures rose 4.10, or 0.4 percent, to 1,095.20, while Nasdaq 100 index futures rose 8.25, or 0.5 percent, to 1,859.50.
nester [7:37]: BEIJING (AP) -- China's rapid growth is slowing as its huge stimulus winds down and Beijing cools a credit boom, possibly weakening a global recovery.
The world's third-largest economy expanded by 10.3 percent in the second quarter over a year earlier, down from the first quarter's explosive 11.9 percent growth, the National Bureau of Statistics said Thursday.
China's ability to help drive a global recovery might be dented if slower growth cuts its appetite for U.S. and European factory machinery, industrial components from Asian suppliers and iron ore from Australia and Brazil.
"The speed of economic growth is declining fast," said economist Xing Ziqiang of China International Capital Corp. in Beijing. "Countries that export raw materials to China will feel a bigger impact from declining investment."
nester [7:38]: LOS ANGELES (AP) -- More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.
"That would be unprecedented," said Rick Sharga, a senior vice president at RealtyTrac.
By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said
nester [7:39]: European stocks fell Thursday, led lower by basic resources and bank stocks as concerns prevailed that the U.S. economy's recovery was stalling after the Federal Reserve cut its economic growth forecasts.
The Federal Open Market Committee predicted that gross domestic product would expand by between 3% and 3.5% this year rather than the 3.2% to 3.7% rate previously projected, while Wednesday's soft U.S. retail sales report further underscored concerns about the world's largest economy.
"If we really are moving to a market that will for a while at least be more influenced by the micro of company earnings and the macro of economic data one can only say that the outlook is not much clearer than it was when the focus was on European sovereigns," said Gary Jenkins, head of fixed income research at Evolution Securities. "Whilst we have had a few positive statements from companies, the economic data continue to disappoint, with U.S. retail sales figures coming in below expectations and the Fed cutting its GDP forecast for the year."
Avalon [7:39]: Morning, nester
nester [7:41]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Thursday's session are Google Inc., J.P. Morgan Chase & Co. and Fairchild Semiconductor International Inc.
nester [7:41]: morning Avalon
rw [7:43]: Morning Mr. Nester, Avalon, carr and all
carr [7:44]: morning RW
nester [7:44]: mornin rw
rw [7:45]: Nester - I am about to quit using moving averages as final entry signal .....I did like to enter when the 5 crossed over the 15.......However I hear some just follow candles and make their decision on candles and maybe macd and rsi.....I would like to know how you make the final determination please, when you have time. Thanks in advance.
rw [7:45]: Carr not carr.
Avalon [7:47]: Morning, rw
nester [7:50]: rw - well, I use moving averages to find the overall trend, the daily trend and my entry points. I also have been trying to enter into more swing trades lately; although that can be a pain with this market. Haven't given up on them as I feel they are the proper strategy for me. hope that answers your question
rw [7:53]: Nester: Thanks: What moving averages do you use please. I do have the 20 50 and 200 up for guides also the macd and stochs and volume
rw [7:54]: Trying to get a better set up and take all emotion out of trades.
nester [7:54]: on daily charts i use 10 20 50 200 intra is 8 & 20
picker304 [7:54]: 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
rw [7:54]: Mr. Carr: Appreciate your comments also - if you have time...
rw [7:54]: Morning Shepherd Picker:
nester [7:55]: hey pick
rw [7:59]: Thanks Mr. Nestser.
Andrew [8:01]: Good morning
kotarah [8:01]: morning
nester [8:01]: mornin Andrew kotarah
kotarah [8:02]: morning NESTER NEWS on SOMX ARNA
nester [8:02]: VVUS is showing nothing this morning. ???
kotarah [8:02]: NEWS SNSS LEECO
kotarah [8:03]: Nothing all done for now
carr [8:04]: morning Kotarah
kotarah [8:04]: morning carr
nester [8:05]: not showing bid/ask price nothing you the same?
kotarah [8:05]: SAME I wonder whats up
Sandman [8:05]: morning nester, are you still in FAZ? I'm still waiting to get in.
kotarah [8:05]: No pre market anything
Andrew [8:06]: That VVUS drop yesterday afternoon was pretty crazy.
kotarah [8:06]: ARNA moving
nester [8:06]: morning Sandman... yup still in FAZ
carr [8:06]: I am showing bid and ask on SNSS on level 2
kotarah [8:06]: Futures +3 positive
nester [8:06]: I'm holding VVUS short... went to check and it is gone. does that mean i WIN? YEAH baby
Andrew [8:07]: I'm seeing a huge spread in VVUS that doesn't mean anything
kotarah [8:07]: I may pop today again
jim [8:07]: Morning all
carr [8:07]: morning Jim
kotarah [8:07]: morning JIM
Andrew [8:07]: Its definitely still #1 on my watch list for today
nester [8:07]: Andrew - mine is totally blank. no bid/ask price vol
rw [8:07]: banks higher pre market
nester [8:08]: morning jim
jim [8:08]: morning Kot
kotarah [8:08]: I have $12.77
jim [8:08]: morning nester
jim [8:08]: morning Carr
carr [8:09]: Vivus Halted in Pre-Market Trade - FDA Panel to Consider Qnexa Diet Drug Today 07/15 07:22 AM
nester [8:09]: i hope not. i shorted at 12.63
jim [8:09]: Nester, Rw I have been using the macdh as sugggested by Gar with good success it is a pretty good leading indicator
Andrew [8:09]: Oh wow.
kotarah [8:09]: I am checking
Andrew [8:09]: A lot of shares?
carr [8:10]: 07:22 AM Eastern Daylight Time, 07/15/2010 (MidnightTrader) -- Vivus (VVUS:$12.11,00$-0.33,00-2.65%) is halted in U.S. pre-market trade as an FDA advisory panel today weighs the safety risks and benefits of the company's diet drug Qnexa, according to a Reuters report.
Price: 12.11, Change: 0, Percent Change: 0
http://www.midnighttrader.com
nester [8:10]: tank city....
carr [8:11]: Vivus July option prices suggest 44% price movement on FDA vote 07/15 07:35 AM
Vivus (VVUS:$12.11,00$-0.33,00-2.65%) closed at $12.11. Today an FDA panel will be voting for or against Qnexa based on the weight of risk verses the benefit. VVUS July 12 straddle is priced at $5.85, August 12 straddle is priced at $6.60; September 12 straddle is at $7 according to Track Data, suggesting large price movement. Paul Foster
kotarah [8:12]: VVUS +2.2%,
kotarah [8:12]: Not good NESTER
nester [8:12]: TD still blank...
kotarah [8:12]: early Gaap Up
Andrew [8:13]: So it might be halted for most of day then until the FDA decides?
nester [8:13]: crap. i'm up 4.3% on my short...
Andrew [8:13]: I'm seeing a 4.56 bid and a 12.77 ask in TD.
kotarah [8:13]: If they voted to keep avandia im sure they will keep VVUS as well
Andrew [8:13]: But since halted those don't mean anything I don't think
nester [8:14]: i showing - bid - ask
kotarah [8:14]: I have the same ANDREW
kotarah [8:14]: LOOK Early premarket gappersGapping up: MSN +13.0%, ARNA +7.5%, LACO +6.9%, NBG +5.4%, VVUS +2.2%, GOLD +2.1%, BAC +2.1%, SHPGY +1.8%, BP +1.6%, NVS +1.5%, GSK +1.4%, C +1.2%, UBS +1.0%.
kotarah [8:14]: VVUS in this group
nester [8:15]: you still in ARNA ?
kotarah [8:15]: yes
nester [8:15]: i help carry, don't forget about me...
Sandman [8:15]: In Pre-market FAZ is down $13.80 -.23-- -1.64%
kotarah [8:15]: Needed alot of help last couple of days 6000 in KERX alone need help
jim [8:17]: somx a watcher today
carr [8:17]: Morning Sandman
Andrew [8:17]: Good idea jim.
kotarah [8:17]: did you see the news
jim [8:17]: no
Sandman [8:18]: good morning carr. I hope you have a great day.
kotarah [8:18]: SAN DIEGO--(BUSINESS WIRE)--Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX - News), a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area, today announced that it has established a commercial team to promote Silenor® (doxepin) for the treatment of insomnia characterized by difficulties with sleep maintenance.
On July 14, 2010, Somaxon entered into a Professional Detailing Services Agreement with Publicis Touchpoint Solutions, Inc. pursuant to which Publicis will provide Somaxon with 110 sales representatives on a contract basis that will exclusively promote Silenor. These representatives will be employees of Publicis but will be hired to Somaxon’s specifications and will be managed by Somaxon’s recently-hired team of sales management personnel. Publicis will also be responsible for the sales force automation, fleet and other ancillary services relating to the sales force, and Somaxon will have the option to hire the Publicis sales representatives as Somaxon employees in the future.
“We are excited to continue to execute on our corporate strategy by hiring a dedicated specialty sales team for Silenor, which will target the highest prescribers of insomnia drugs, including psychiatrists, neurologists and high-prescribing primary care physicians, with the goal of supporting an October launch,” said Richard W. Pascoe, Somaxon’s President and Chief Executive Officer. “In addition, we continue to engage in discussions with third parties relating to the commercialization of Silenor, and we believe that this specialty sales force structure and our marketing plan will provide us with the flexibility needed to complement the promotional efforts of any strategic collaborator in the marketing of Silenor.”
“During the second quarter of this year, we hired a sales management team with solid CNS experience, and we look forward to deploying this specialty sales force under their leadership,” said Jeff Raser, Somaxon’s Chief Commercial Officer. “With trade and sample manufacturing nearing completion, our marketing campaign fully developed, our pricing and managed care strategy finalized, and the commercial team build-out soon to be completed, we look forward to introducing our highly differentiated insomnia product to the highest prescribing physicians in the U.S. insomnia market.”
kotarah [8:19]: There that ought to clear it up
jim [8:19]: thxs Kot
kotarah [8:19]: There is news on MTG andrew
Andrew [8:20]: Thx I'll check it out
Andrew [8:20]: ARNA could be opening near an interesting price level where there previously were a lot of sellers.
kotarah [8:21]: I would be carefull here It posted very good news yesterday and it looks to continue uptrend if market holds
kotarah [8:22]: OREX in sympathy
Andrew [8:22]: MTG could be a good short based on potential resistance on the daily chart from a trend line
kotarah [8:23]: I like it
nester [8:23]: think we will get the volume on SOMX to drive it over $4 today?
jim [8:23]: somx premarket vol is low dont know?
kotarah [8:24]: Yes you will I tried to tell you about AUG 7 calls yesterday but you took the money and ran
nester [8:24]: lol... can still do that
kotarah [8:24]: Look at them
kotarah [8:25]: It may be a solid play today
jim [8:25]: nothing wrong with running with a bag full of money
nester [8:25]: .50 & .55
nester [8:25]: 0 open interest though.
kotarah [8:26]: I know but it may see life today
nester [8:26]: may play those...
kotarah [8:27]: It has small amount of pre market vol not on fire yet
nester [8:28]: even the 2.50 calls aren't bad priced
kotarah [8:28]: I will tell everyone to watch CLDX it will soon catch on fire
nester [8:29]: Nov 2.5 calls are only 1.40
kotarah [8:29]: Thats why I tried to make more money for you
nester [8:29]: starting to like you more and more...
Andrew [8:29]: You think it will be able to get back above 5.00 soon?
Andrew [8:30]: It's been struggling near there for a while.
kotarah [8:30]: that makes me feel warm and fuzzy
28Martin07 [8:30]: i'm new to this....what is everyone's thoughts on SBIB?
nester [8:30]: it was trading at $4 before the approval.
Andrew [8:31]: Pretty ugly daily chart for SBIB - my bias would definitely be short.
28Martin07 [8:31]: i'm still trying to figure everything out...seemed to be on an upward trend slightly
nester [8:32]: SBIB is trending down still. won't go long unless it hits higher than normal volume on it. then daytrade it only
Andrew [8:32]: The short-term uptrends in a larger downtrend can fail a lot. It's kind of like trying to pick a bottom (if you're right you can make a lot of money, but you have a low chance of getting it right).
carr [8:32]: 28Martin07 Welcome to Stock Vision, are you looking at SBIB as a day trade or a swing trade?
Andrew [8:33]: It had a lot of volume yesterday when it sold off significantly.
28Martin07 [8:33]: day trade...i'm still in my 7 day trial right now...just trying to get my bearings with the papertrade tool
Andrew [8:34]: Oh for day trades you often need to wait to see how they react near the market open.
Andrew [8:35]: If it seems to be holding in the 4.60s then it could be a decent long. If it starts failing near a level where there were sellers yesterday, could be a decent short.
carr [8:36]: the SBIB elliott pattern just completed a wave 5 down on a 5minute chart, so there should be some upside potential today. But I would take Andrew's advice and watch the direction closer to the open.
kotarah [8:36]: It looks to me like a bad play 50 MA crossed over 100 MA sold off prety heavy yesterday and if market goes down so will SBIB my 2 cents 28 MARTIn
nester [8:36]: WASHINGTON (MarketWatch) -- The number of people applying for initial state unemployment insurance benefits fell 29,000 to 429,000 in the week ended July 10, hitting the lowest level since August 2008, the Labor Department reported Thursday. Economists surveyed by MarketWatch had expected an initial claims level of 445,000. A Labor Department analyst cited fewer-than-expected manufacturing layoffs. The four-week average of initial claims - a better gauge of employment trends than the volatile weekly number - fell 11,750 to 455,250. Continuing claims in the week ended July 3 rose 247,000 to 4.68 million. Recent volatility in this number is due to seasonal adjustment issues, according to the Labor Department. The four-week average of these continuing claims rose 22,000 to 4.58 million. The total number of people collecting some type of unemployment benefits in the week ended June 26 was about 8.7 million, down about 270,000 from the prior week. A federal extension of benefits has expired, and an estimated 2.5 million people will have been cut off from benefits by July 17. Congress is working on a new extension that could be approved in coming days.
28Martin07 [8:36]: i see that now haha thanks
picker304 [8:37]: Hey Martin its picker
28Martin07 [8:37]: hey man
nester [8:38]: continuing claims went up to 4681k expected 4400k numbers should be a wash...
jim [8:38]: Martin are you a Cuz of Pick?
Andrew [8:38]: Sometimes the first 20 minutes can be good for just observation mode
picker304 [8:38]: Hey martin its picker
28Martin07 [8:39]: not only am i his cousin but i'm his daddy
28Martin07 [8:39]: haha jk
jim [8:39]: ooooooooooh I feel for you Martin
28Martin07 [8:40]: yeah i'm just waiting to see his response to my last comment
jim [8:40]: jk of course
carr [8:40]: Hey Martin, Picker asked me to welcome you he is having a little trouble posting right now.
kotarah [8:40]: Tese numbers are bogus its way more since people have given up NESTER
28Martin07 [8:40]: oh ok
picker304 [8:41]: Hey martin
28Martin07 [8:41]: hey pick
kotarah [8:41]: Stock futures have started to trade in choppy fashion, but they continue to sport a lead over fair value. The price action follows the latest lot of data. Initial jobless claims for the week ended July 10 totaled 429,000, down 29,000 from the prior week and below the 450,000 initial claims count that had been widely expected. Following last week’s precipitous drop, continuing claims climbed by almost 250,000 to 4.68 million.
picker304 [8:41]: I see you now hows it going bud
nester [8:41]: kotarah - on what ticker?
picker304 [8:41]: Did you do your two hours of scale work last night
nester [8:41]: never mind. your talking unemployment
28Martin07 [8:41]: i'm just trying to be a sponge and soak up some information
kotarah [8:41]: what ticker?
28Martin07 [8:42]: no i did three hours
picker304 [8:42]: Yes sir
picker304 [8:42]: LOL
picker304 [8:42]: Well it gets crazy in here of the day so don't lose focus
carr [8:42]: of course those were heavy metal scales right
kotarah [8:42]: Glad to see your paying attentsion
nester [8:42]: i posted an article from MSMoney yesterday stating that unemployment numbers are really 16.8% not the 9.7%. it is really around 19.8%
kotarah [8:43]: SOMX moving
nester [8:43]: still early...
picker304 [8:43]: Its all about studying and finding your own way but we are here you to give you any assistance you may need
28Martin07 [8:43]: well unfortunately i won't be able to stay very long this morning
kotarah [8:43]: I didnt see it
picker304 [8:43]: Thats ok we'll be in touch
picker304 [8:43]: stay
Andrew [8:43]: I think with SOMX it was just someone who bought a tiny amount of shares. It doesn't trade too much pre-market usually.
kotarah [8:44]: There is alot more to that ANDREW
Andrew [8:44]: How so?
kotarah [8:45]: There ramping up on a big sales force read the artical post at 81.18
kotarah [8:45]: 8.18
picker304 [8:45]: Martin have you found an idea you like yet?
Andrew [8:45]: Nobody seems to care about that though this morning
Andrew [8:45]: Judging from the tiny pre-market volume
28Martin07 [8:46]: by "idea" you mean what type of trading i think i would be interested in?
kotarah [8:46]: that may comeback and bite
picker304 [8:46]: yea
28Martin07 [8:47]: i'm still unsure at this point
picker304 [8:47]: Perfect answer. You should be lots to learn but powerful very powerful
LEECO [8:48]: Morning-I feel like I'm living in a soap opera pump on pool went south
kotarah [8:48]: YOU have news on SNSS LEECO
Sandman [8:49]: Good morning LEECO.
carr [8:50]: Morning LEECO black algea and now a pump failure that really is too much
Andrew [8:55]: CLNE could be an interesting one to watch
Andrew [8:56]: It's gapping up a lot and is within striking distance of its 200-day moving avg.
kotarah [8:58]: Interesting?
picker304 [8:58]: have agreat day Martin see you soon friend
Andrew [8:58]: Whenever I say "interesting" I just mean it looks like it could have good movement in one direction or the other near a key level.
LEECO [8:59]: About $650 just when myretirement pay suite is ready for a default judgement & the Co files Chapt 11 BK
kotarah [8:59]: That means I flip a coin and its 50/50
Andrew [9:00]: Yeah, just watch the price closely near the key levels and try and improve your odds a bit.
Andrew [9:00]: Those kinds of coin flip scenarios though can be very profitable.
kotarah [9:01]: 50/ 100 cross over near resistance and a possible market down trend which way? me down
LEECO [9:01]: Thanks kotarah id SNSS would go up 2 points I'd sell me 6000 shares and use it to pay for some of these things like a Delaware lawyer to present clain at creditors meeting in Wilmington
kotarah [9:02]: I know you have it and I thought of you when SNSS came up
Andrew [9:03]: I think JayBird got caught in some SNSS last year too.
picker304 [9:04]: Hey guys how does one sign up for webinar tonight is it a link or a sign up or what?
kotarah [9:04]: It will be awhile unless it post more positive news LEECO
kotarah [9:04]: Wasn't it the other day ?
LEECO [9:05]: Talk about the roof falling in I'm also holding PCX which dropped 5 points when the roof gave way on one of their mines-(SOAP OPERA?)
Andrew [9:06]: Maybe PCX can get going soon. It's been making a lot of higher lows recently.
kotarah [9:06]: The best thing that was mentioned by TC was know your entry and exits stops are key
Andrew [9:07]: Always have some stop loss in there just in case even if it is somewhat far below - better than no stop at all.
kotarah [9:08]: you can believe that they are key
kotarah [9:09]: Picker wasn't the webinar tuesday?
kotarah [9:10]: S&P slowly coming down
LEECO [9:10]: RIGHT ON-Stops are a traders best friend-I learned it late-but IU am now a firmbeliever-Once I can liquidate my bagholds without too much loss It is close stops for me
kotarah [9:11]: have a plan laid out before knowyour entry and exit strategy
kotarah [9:12]: Futures for the S&P 500 have pulled back to the flat line since the release of a somewhat mixed batch of data.
picker304 [9:12]: Kot replay is tonight found the link Gar left it earlier
moby [9:13]: www.garsworld.com/webinars.htm
kotarah [9:13]: thanks pick may attend
kotarah [9:13]: hey mobey
picker304 [9:13]: thx moby
jaws [9:14]: Yesterday, ortrade (I believe it was he) mentioned an "Alex Stop". Does anyone know what this is?
moby [9:14]: howdy kotarah, living the dream, nice going on SOMX, off to work , have a nice day :)
picker304 [9:15]: welcome Kot
kotarah [9:16]: welcome?
jim [9:16]: L SOMX 3.75
LEECO [9:17]: FAZ ,DXD,TZA,BGZ all beaqr ETF's down premarket-looks like green open
kotarah [9:17]: andrew thinks that doesn't matter
moby [9:17]: he meant you're welcome for the thanks up up a few lines, later dudes
kotarah [9:18]: thx moby
kotarah [9:18]: Stock futures are just above the flat line following a relatively mixed dose of data, which featured a lower-than-expected initial jobless claims count and a sharp climb in continuing jobless claims, a disappointing Empire Manufacturing Index, and a sharper-than-expected slide in overall producer prices
mcrawford [9:18]: VVUS WATCH STOCK IS HALTED ON NEWS
kotarah [9:19]: THX
Andrew [9:20]: I'm not sure jaws. I'll ask him when he gets online.
kotarah [9:20]: Which wat ANDREW As a result of these stories, shares of CLNE, a provider of natural gas for vehicles, is gapping higher this morning (up 5.8%).We would point out that Pickens owns 32% of CLNE shares outstanding.
kotarah [9:21]: hope that helps
Andrew [9:22]: I think what doesn't matter?
kotarah [9:24]: I fogot your a shorty
kotarah [9:26]: LEECO...(SNSS) announced that the European Patent Office has granted a European patent covering combinations of the Company's lead drug candidate, voreloxin, with cytarabine... NovaBay
Andrew [9:28]: Small gap down this morning it seems
Andrew [9:28]: Pretty flat opening
Andrew [9:28]: Financials showing some relative strength though from JPM
LEECO [9:28]: Thanks kotar-I read it -encouraging-now I want them tocomplete final phases on voreloxin & get FDA release-then we cash in! LOL
Andrew [9:31]: short ARNA 4.86
LEECO [9:31]: So much for a green opening??LOL
Andrew [9:31]: tripled up on ARNA short 4.81
Andrew [9:32]: short SOMX 3.72 (triple position)
LEECO [9:33]: A lot of red this AM
Treacherous_Cretin [9:33]: covered BUCY holdover at 53.35
Treacherous_Cretin [9:34]: 2%
Treacherous_Cretin [9:34]: bye
Andrew [9:35]: long FAZ 14.03 (triple position)
jim [9:35]: L SOMX 3.67
rw [9:36]: aapl long 24807 sold 248.90
rw [9:37]: to quik to post
Andrew [9:37]: out ARNA -1.5%
rw [9:37]: AAPL good trading stock
Andrew [9:38]: back short ARNA 5.13
karenbcz [9:38]: $dji
moby [9:38]: especially after the fact
Andrew [9:38]: tripled up on ARNA short 5.07
JayBird [9:39]: PEIX showing some life
rw [9:39]: Karen: pleasure to see you this morning
Andrew [9:39]: out ARNA -1.5%
karenbcz [9:39]: :>)
rw [9:40]: peix up jaybird but it keeps dropping end day---------
Andrew [9:40]: added to SOMX short 3.70 (double position)
rw [9:41]: AAPL long 248.20 order in
kotarah [9:41]: for all the PEIX HOlders Biofuel related names trading higher following VRNM news... BIOF, PEIX
Andrew [9:42]: back short ARNA 5.12 (triple position)
nester [9:42]: volume on SOMX isn't great... may close out flat
LEECO [9:43]: PEIX is up 18% but with a stock so far down that doesn't take much only 7 cents
kotarah [9:43]: YES also market
rw [9:43]: Leeco: that is progress tho
nester [9:44]: got a bid in on $4 Aug calls at $0.45
jim [9:44]: Yes I would be surprised if the market moves much today
kotarah [9:44]: kerx
rw [9:44]: wm watcher
Andrew [9:44]: added to ARNA short 5.03 (double position)
rw [9:45]: want totrade BUCY but not sure of it
nester [9:45]: just cancelled it... don't trust it yet
Andrew [9:45]: out 1/5th SOMX +3.5%
jim [9:45]: I think nester and andrew have this market figured out stay short until proven otherwise
kotarah [9:46]: Sliding good move
LEECO [9:46]: rw-I think you should stay away from BUCY & JOYG today
JayBird [9:47]: lower-than-expected initial jobless claims count and a sharp climb in continuing jobless claims, a disappointing Empire Manufacturing Index, and a sharper-than-expected slide in overall producer prices. Just released, industrial production for June increased 0.1% when it had been widely expected to be flat and capacity utilization for June hit 74.1%, which is unchanged from the prior month. As an aside, China reported a hefty 10.3% year-over-year increase in first quarter GDP, but a slightly stronger rate of expansion had been widely expected.
Andrew [9:47]: out rest of SOMX +6.25%
Andrew [9:47]: Got to take that
kotarah [9:47]: SOMX getting slaughtered
LEECO [9:47]: nester $$ calls what stck?
nester [9:47]: tankin
nester [9:47]: short SOMX 3.54
Andrew [9:48]: added to FAZ 14.26 (double position)
nester [9:49]: Leeco - was going to buy SOMX $4 calls. just didn't feel good. starting to fall now. glad i cancelled
kotarah [9:49]: good move
rw [9:49]: Do you all buy "deep in the money" options with High "delta"?
rw [9:49]: 80% of options expire worthless - The sellers make most of the money. JMO
rw [9:50]: somx moving up candles look good volume bad
Andrew [9:50]: out 1/5th ARNA +2.3%
Andrew [9:51]: back short SOMX 3.62
nester [9:51]: out SOMX short -.0.6%
Andrew [9:52]: added to SOMX short 3.63
Andrew [9:52]: added to SOMX short 3.62 (double position)
LEECO [9:53]: OK nester just trying to further my education
Andrew [9:53]: out 1/5th FAZ +1.3%
jim [9:55]: out faz $14 calls +4%
jim [9:56]: L ICO 4.25
Andrew [9:58]: added to SOMX short 3.68
rw [9:58]: BUCY comments please
Treacherous_Cretin [9:59]: you missed the entry on BUCY rw
Treacherous_Cretin [9:59]: its in the middle of nowhere now
Andrew [10:00]: BUCY might be a good short once you see some selling.
rw [10:00]: what was that TC>? please
Andrew [10:00]: 53.60 was previously support so now might be resistance
Treacherous_Cretin [10:00]: was safe to buy at the s1 pivot level
Treacherous_Cretin [10:00]: for a bounce
rw [10:00]: what price tc
Treacherous_Cretin [10:00]: now the seal clubbers have arrived
rw [10:01]: i do not use pivots - do not understand them
Andrew [10:01]: out another 1/5th ARNA +3.5%
Treacherous_Cretin [10:01]: 53ish would have been okay
Treacherous_Cretin [10:01]: well you should learn them rw
rw [10:01]: "baby seals" tc....
Andrew [10:01]: out another 1/5th FAZ +2.2%
rw [10:01]: I hate them but you are right all the lines on charts
Andrew [10:01]: out another 1/5th ARNA +3.1%
Treacherous_Cretin [10:01]: much safer than indicators on small timeframes like you usually look at
rw [10:01]: I hope Mrs. Cretin is now totally well.......
rw [10:02]: Thanks for your comments TC
Treacherous_Cretin [10:02]: she is okay
Treacherous_Cretin [10:02]: you are welcome RW
rw [10:03]: My cat threw up all over the deck ----I have to go clean that up...be back soon
Andrew [10:03]: The Philadelphia Fed survey was ridiculously bad
Treacherous_Cretin [10:03]: when I feel well enough, I will put together a basic info sheet on pivots and how I evaluatre them for you
rw [10:03]: wife was about to freak out.
Andrew [10:03]: That was released at 10:00am leading to the selling.
rw [10:03]: I SURE would appeciate it TC>...frankly they are confusing tome I have had them up and discarded them..
nester [10:04]: go FAZ go!!!
Andrew [10:04]: out another 1/5th FAZ +2.7%
kotarah [10:04]: WNI
Andrew [10:04]: out another 1/5th ARNA +4.5%
rw [10:05]: Col. Leeco- thanks for your comment
Andrew [10:05]: out rest of ARNA +4%
rw [10:06]: tc BUCY Back down
Andrew [10:06]: long ARNA 4.87
Andrew [10:07]: out rest of FAZ +3.3%
ortrade [10:07]: FAZ 3000@14,56p
LEECO [10:07]: faz UP $0.55 -BUT i WAS SCARED OF IT
Andrew [10:08]: long FAS 22.09
rw [10:09]: selling now.....
nester [10:09]: ERX $29 puts $3.54
Andrew [10:09]: added to ARNA 4.82
Andrew [10:10]: added to FAS 21.92
nester [10:11]: man, love this day!!!
Andrew [10:11]: Wow, huge selling
nester [10:11]: bulls dieing everywhere...
Andrew [10:11]: added to FAS 21.78
JayBird [10:11]: The major market averages have fallen to fresh session lows in reaction to news that the Philadelphia Fed Index for July hit 5.1, which is below the reading of 10.0 that had been expected,
Treacherous_Cretin [10:11]: probably should not have covered the BUCY, but I had to leave and 2% was staring at me
Andrew [10:12]: added to FAS 21.83
ortrade [10:12]: Exit FAZ +585$p
LEECO [10:12]: FAS is dropping like a rock-Am I wise to monitor it and grab it on a turn u?
Andrew [10:12]: out 1/5th SOMX +2.8%
Treacherous_Cretin [10:13]: buying bucy for a bounce at 52.45
jim [10:13]: L FAS Aug calls $22 2.50
Andrew [10:13]: It could be a good time to look for bouncers here.
Andrew [10:13]: But be careful with your stops since fighting the trend.
rw [10:13]: BUCY long 52.45
Andrew [10:14]: added to ARNA 4.87 (double position)
ortrade [10:14]: This time I exit my strategy at the day close from the 13'th of the month.It fired really at 9.55 FAZ long but I was modifying it and noticed the signal only after the large green bar at 10am.
Treacherous_Cretin [10:14]: could tank on us rw
Andrew [10:14]: added to FAS 21.98
Treacherous_Cretin [10:14]: use your own judgment
Treacherous_Cretin [10:15]: it is a risky trade
Andrew [10:15]: added to ARNA 4.81
rw [10:15]: I have .5% stop in TC I think it will climb up tho.........
rw [10:16]: woud not be fearful of holding BUCY overnight TC
Andrew [10:17]: added to FAS 21.78
ortrade [10:17]: If you understand the stock market you understand that FAZ will go higher now.
Treacherous_Cretin [10:17]: you should be fearful of it
nester [10:17]: should have bought more FAZ...
Andrew [10:17]: out FAS -0.6%
LEECO [10:17]: Morning T_C-good news on Mrs T_C-but BUCY-all indicators show it is with the market trend down-what do you think of grabbing FAS on the bounce?
Treacherous_Cretin [10:17]: it could go to the 40s
Andrew [10:17]: ortrade, what's an Alex stop?
jim [10:18]: added fas calls 2.41
Andrew [10:18]: out ARNA -0.8%
ortrade [10:19]: Andrew, it was coined by Alexander Elder. I have it programed in omnitrader. It differentiate regions of trend from sideways.
Andrew [10:20]: back in all FAS 21.71
Treacherous_Cretin [10:21]: market bounces here or avalanch begins
Andrew [10:21]: It really should be bouncing sometime soon but if not ready to get out.
picker304 [10:22]: Gar [0:53 (USA)]: Anyone here who is new -- There is a free online seminar that explains valuable basics about StockVision. This will be re-played tomorrow night, Saturday night and Sunday night. More info is on the site -- www.garsworld.com/webinars.htm (this will give you a ton of understanding about our product here).
raymoney [10:23]: whats up boys.........
Andrew [10:23]: Wild first hour today, raymoney
Andrew [10:23]: out rest of SOMX +2.3%
rw [10:23]: glad to see you Mr. Raymoney.
raymoney [10:23]: finally my ITUB stock broke... its been 3 days this is the 4th.. I got it short at 21.45
Treacherous_Cretin [10:23]: hey ray
ortrade [10:24]: Today I decided to exit once I make the 500-600$ a day regardless of the trend. It has to do with my last 7 days where I should cashed in that much per day but since waiting for the trend I winded up losing. Glad I took the gain on FAZ on the support resistance instead of on a dynamic stop or moving average price crossover.
raymoney [10:24]: TC... thought you were gone.. glad to see you back.. I am not here much.. I work to much... I still make about 3 or so trades a weeek... mostly swings...
Treacherous_Cretin [10:25]: always on the verge of gone these days
ortrade [10:26]: Andrew, here is one version of Alex stop for Tradestation, not sure if its identical to what I have but it can give you an idea. http://www.purebytes.com/archives/omega/2002/msg04758.html
raymoney [10:26]: I have been waiting for ITUB to break south for 3 days now... I told GAR it was a good short.. he said I would have to endure some pain first but could go down... well he was right about waiting but I nearly grabed the high... now I will hope for mid 20's
Treacherous_Cretin [10:26]: entry on BUCY was too early
Andrew [10:26]: out 1/3rd FAS +1%
Andrew [10:27]: Thanks for the link
raymoney [10:28]: shoot... I got to go... damn.. kill it protect it guys.. see ya....
rw [10:28]: sold BUCY 52.55
Andrew [10:28]: out rest of FAS +1.2%
ortrade [10:28]: welcome, was entry on FAS bounce from resitance of 13'th and sell on the news with SPY crossover of dtn or additional consideration
rw [10:29]: LEFT 16 CENTS ON TABLE...BUCY
Andrew [10:29]: back in FAZ 14.70 (triple position)
Treacherous_Cretin [10:29]: I bagged BUCY rw
Treacherous_Cretin [10:30]: entry was too early and market is too weak to trust longs
rw [10:30]: Good - we were in to early TC at least made a little no loss - enough for watches for wife at wal mart tonight
Treacherous_Cretin [10:30]: exit if you have not
rw [10:30]: thanks I did.....as posted above
Andrew [10:30]: I just got back in FAS after my small loss the first time b/c the selling seemed way too overdone and the 7/12 gap had finally been filled.
Treacherous_Cretin [10:30]: it could go up, but I was not patient on the entry
Andrew [10:31]: The gap in S&P I mean
rw [10:31]: I felt very patiuent tc......shows I did not have a good handle on it
Treacherous_Cretin [10:31]: am not good in the head today should not be trading or posting trades
Treacherous_Cretin [10:31]: risk to others
Andrew [10:31]: added to FAZ 14.74 (double position)
LEECO [10:31]: I just registered for tonite's webinnar
rw [10:31]: TC - I am sure you got my e mail.......call sometimes..........
rw [10:32]: where do you go to do that colonel?
Treacherous_Cretin [10:32]: have not read email for days
LEECO [10:32]: Welcome all newbies and especially old timers coming back we missed you-all
Treacherous_Cretin [10:32]: will look and may call sometime
rw [10:32]: I sure wish that you would.....
Treacherous_Cretin [10:32]: glad you incurred no loss on BUCY because of me
Treacherous_Cretin [10:32]: bye people
rw [10:33]: aapl watcher....BYE tc.......Take care......Hi to Mrs. Cretin.
ortrade [10:34]: I am surprised the hedge funds took the challenge in that morning narrow window for the fast gains. It was probably the wise thing to do as the cautions weak hands stayed our of the packed schedule today..
Andrew [10:34]: back short SOMX 3.62 (double position)
rw [10:34]: TC Not your worry- I made money.......if I had lost - it was my loss......I trade bucy You just mentioned it several times as a good trading stock
Andrew [10:34]: back short ARNA 4.81 (double position)
Andrew [10:35]: short MBI 6.78 (triple position)
kotarah [10:36]: S&P stabilizes near support at 1080Noted support for the S&P in the 1081/1080 area in The Technical Take (and 2215 Nasdaq, low 2218; 10250 Dow, low 10240) and have seen some stabilization/recovery. Intraday initially watching the 1086/1087 resistance area for a read on the strength/sustainability of this rebound
Andrew [10:36]: added to ARNA short 4.85 (double position)
rw [10:36]: "no stock is so low that it can not or will not go lower" per Livermore and Gar
Andrew [10:37]: added to ARNA short 4.85
PA [10:38]: Good morning all cover August 21 2010 PUT 13 net $ 29.14 = 30 %
Andrew [10:38]: added to SOMX short 3.61 (double position)
nester [10:39]: great PA...
PA [10:40]: Thanks nester
Andrew [10:40]: added to MBI short 6.82 (double position)
nester [10:40]: out ERX short 2.7%
Andrew [10:41]: added to SOMX short 3.61
nester [10:42]: short ERX @ 27.45
LEECO [10:43]: morning PA-how is Thailand today?
Andrew [10:45]: out ARNA -0.74%
PA [10:45]: Good morning Leeco a little rain here in Bangkok
ortrade [10:46]: The market seldom has a prescribed direction. It has a dynamic direction that is its direction is establised at every moment as the history is reweigthed..
Andrew [10:46]: short CROX 10.05 (triple position)
rw [10:47]: Ortrade: I appreciate your comments.
ortrade [10:47]: welcom rw.
PA [10:49]: Ortrade I am at IB now but not yet ready for day trade, The chart is very difficult to draw. What is your experience
Andrew [10:50]: short PWER 8.89 (triple position)
Andrew [10:50]: added to CROX short 10.10 (double position)
nester [10:51]: out FAZ 4.8%
ortrade [10:52]: PA I trade in IB using the Order managment and the Book trader panel. All charting is done outside IB using iqfeed in omnitrader.
Andrew [10:53]: added to PWER short 8.93 (double position)
PA [10:54]: Thanks ortrade I will look into Order management and the Book trader panel.
ortrade [10:55]: Stock market is really a very strange place in particular as there are different groups of traders trading at different times. Imagine having Einstein presenting his theory of relativity (excelent entry point on chart) to a group of pimps (most pro traders who can evaluate that chart are at lunch). Likely the pimps will through Einstein out the door (that is the market will take unexpected direction for a half hour till lunch is completed). It is why many good entries that wink to the pro should be treated with much caution..
Andrew [10:55]: added to PWER short 8.99
ortrade [10:57]: FAZ 3000@14.70p
Andrew [10:57]: added to CROX short 10.09
nester [10:58]: FAZ @ 14.76
Andrew [10:58]: added to FAZ 14.78
DJalecC [11:00]: L HW@3.10
nester [11:01]: wish VVUS would start up soon. hate waiting
kotarah [11:01]: me too
Andrew [11:01]: Yeah me 3
nester [11:02]: either of you stuck in it?
kotarah [11:02]: no im not got out
Andrew [11:02]: Nope. Holding biotechs overnight is against my personal rules.
nester [11:02]: only have 2k short. it was going sooooo well
Andrew [11:03]: I bet people with $100k worth right now are freaking out big time
nester [11:03]: lol...
ortrade [11:03]: nester do you have some sort of stop loss for overnight hold or you hold on good faith.
kotarah [11:04]: You may get your wish and it may be the play of the day VVUS has issues with diet pill I hope for your sake as it will fall hard
nester [11:04]: hold most of the time. can get in & out in post/pre
nester [11:04]: that would be sweet...
nester [11:05]: go get my wheelbarrel
kotarah [11:05]: I usually bail daily unless my play such as CYCC holds
kotarah [11:05]: I will help you carry the money
Andrew [11:05]: Financials back close to lows, might take us lower
kotarah [11:06]: watch 1080 S&P
nester [11:06]: was a great short yesterday. even at the end, it was staying flat. today would have pushed it down more if it would trade
Andrew [11:07]: out 1/6th FAZ +1.3%
kotarah [11:07]: it has been like this for a few days loses a dollar runs up 3 now the moment of truth
Sandman [11:07]: Went for a haircut and miss my chance to get in. FAZ--Good move nester.
kotarah [11:07]: SOMX stuck ANDREW killed it
nester [11:08]: thx Sandman got out and back in again. love days like this
Andrew [11:08]: There's a big size bid at 3.60 supporting it but not much volume being done above that.
nester [11:09]: it still may be a play for a $4 call...
Andrew [11:09]: I'm still staying short due to there being better risk-reward in my evaluation
kotarah [11:09]: your on fire today but market down turn helped ANDREW
forrestww [11:10]: morning everyone
ortrade [11:10]: Exit FAZ +415$p.
kotarah [11:10]: morning
nester [11:10]: hey forrest
Andrew [11:10]: Yeah. Unfortunately I exited FAZ way too early 1st time around but was able to get back in only having lost about $0.10 so I'm happy with that.
Andrew [11:11]: SOMX breaking down possibly...
ortrade [11:11]: Taking small gains now as SPY hit the Alex sideways support.
nester [11:11]: SOMX at 3.58 now
kotarah [11:11]: saw a 6% today a few more ah life is good dont know about NESTER JK
kotarah [11:12]: Its stuck
nester [11:12]: lol... i do so much better on days like this. up over 25% on my FAZ calls...
LEECO [11:12]: @11:05 Bought 10 call contracts Aug 22's @ $2.35
ortrade [11:13]: by the salient principle from my 10.55 post I chose the early exit on FAZ.
Andrew [11:13]: out SOMX -0.44%
nester [11:13]: yes. that 3.60 is hard... holding it up
Andrew [11:13]: I'm not liking that huge buyer at 3.59 there
kotarah [11:13]: I saw that however I would take ANDREWs advice on holding bios overnite SHORTS
Andrew [11:14]: Or holding them overnight long as well
nester [11:14]: since we are at or over -100 on the DOW, no longs for me today
Andrew [11:14]: Unless you are ok with the fundamentals and consider them an investment
LEECO [11:14]: nester just went above -100
nester [11:14]: i've done very well holding overnite bios.
kotarah [11:15]: I am that way Look at entrys on kerx and cycc Held almost a week before bounce those Ill keep
nester [11:15]: was holding SOMX at $4.05 when it jumped to $7
ortrade [11:15]: SPY to test that dtn on 5min chart.
Andrew [11:15]: out CROX -0.17%
LEECO [11:16]: Histogram , DI and MACD signal all show up on DOW
Andrew [11:16]: out PWER no gain/loss, out MBI tiny loss
kotarah [11:16]: VVUS different stuff my friend if you look at the news swirling around the stock you would see uncertainty
nester [11:17]: i know. it will fall.
Andrew [11:17]: I got out of almost all my shorts there, had a bad feeling with that buying the last 10 minutes.
kotarah [11:17]: DCTH another example came from 5.80
nester [11:17]: i should have gotten out yesterday. i'm up 4.6% on it. greedy i guess
ortrade [11:17]: sideways now will just get extended on the long side
kotarah [11:18]: If you asked I would have gave you 2 cents on what was going on I posted alot of stuff on it
ortrade [11:19]: SPY, Andrew mentioned yesterday is a good gauge for following what financials are doing..
kotarah [11:19]: he would be right
nester [11:19]: lol... i know. you have tons of info on it. more of an overall view and gut on it i guess
Andrew [11:19]: short FCS 9.99 (triple position)
kotarah [11:20]: Like i said it may turn out the play of the day I hope for your sake
ortrade [11:20]: FAZ will drop now to 20MA on 5min.
kotarah [11:21]: may open back up 5 below would that be nice
kotarah [11:21]: anyone messing with POT
jim [11:22]: no drugs for me
nester [11:22]: ortrade - where do you show that price at?
ortrade [11:22]: 14.66
kotarah [11:23]: 14.66 where is that Ortrade??
nester [11:23]: thanks. i'm showin it at 14.45
ortrade [11:23]: FAZ kotarah.
kotarah [11:24]: Oh ok you made me think VVUS
ortrade [11:24]: Nester I am using exponential moving average.
nester [11:24]: k... sma for me
kotarah [11:25]: ema too
ortrade [11:25]: read somewhere ema is more sensitive.
kotarah [11:26]: for example Potash pushes to session highs as price nears a technical test of descending 50-day moving average resistance almost in play (96.06 +2.21)50-day SMA @ 96.60
50-day EMA @ 97.10
kotarah [11:26]: 0.50 dif
ortrade [11:28]: yeah, using moving averages more as a gauge but look more at trendlines and estimate if price hit trendline where will that be relative to a moving average I observe..
jim [11:29]: somx moving north
Andrew [11:30]: added to FCS short 10.11 (triple position)
PA [11:30]: I also use SMA nester not weighted as EMA but the number always the same for EMA you can even draw a line on 10 day data and if you have 20 day data the number will be different.
kotarah [11:30]: PM Report: FDA Panel Backs Glaxo's Avandia DrugAn FDA Panel voted this afternoon to keep GlaxoSmithKline's diabetes drug Avandia on the market. Alicia Mundy has details from Washington. Plus, Paul Vigna on the Fed Minutes and market reaction to them and the White House's latest stimulus push.
The NYSE Arca Biotechnology Index /quotes/comstock/10t!btk.x (BTK 1,042, -4.15, -0.40%) fell 0.8% to 1037.88, while the NYSE Arca Pharmaceutical Index /quotes/comstock/10t!drg.x (DRG 288.28, +0.85, +0.30%) was nominally lower at 287.30.
Shares of Arena /quotes/comstock/15*!arna/quotes/nls/arna (ARNA 4.95, +0.67, +15.65%) rocketed 18% to $5.05.
Later Thursday, the FDA panel will discuss whether the agency should approve Vivus' diet-drug Qnexa, one of three new diet drugs up for U.S. approval. The others are Arena's lorcaserin and Contrave, developed by Orexigen Therapeutics /quotes/comstock/15*!orex/quotes/nls/orex (OREX 5.60, +0.05, +0.81%) .
While the FDA isn't bound to follow the recommendations of its panels, it generally does so.
Meanwhile, trading was halted in shares of Vivus /quotes/comstock/15*!vvus/quotes/nls/vvus (VVUS 12.11, 0.00, 0.00%) pending the outcome of the FDA meeting. Orexigen shares were largely flat at $5.56.
Anticipation over the FDA meeting was one of several factors contributing to the buying in Arena shares, which also were stoked by news that data from a two-year clinical trial for lorcaserin showed that users lose more weight than those taking a placebo. The results are published in the current edition of the New England Journal of Medicine
Andrew [11:31]: out FCS -0.9%
Andrew [11:32]: back short ARNA 4.96 (triple position)
ortrade [11:34]: The only drugs I daily use is morning half hour jogging and 1.15hour yoga after trading. I take that daily in doses prescribed and did not see doctor last 5years.
Andrew [11:36]: out ARNA -1%
kotarah [11:36]: NEW YORK (AP) -- Stocks fell Thursday following new signs that the recovery remains tepid even as companies report strong earnings.
Regional manufacturing indexes in New York and Philadelphia plummeted this month, but a national report showed modest growth in industrial output nationwide. The government also reported that first-time claims for unemployment benefits fell, but that was largely because of seasonal factors.
kotarah [11:37]: ARNA taking off
kotarah [11:39]: SOMX positive now
Andrew [11:40]: added back to FAZ 14.70
Andrew [11:41]: added to FAZ 14.72 (double position)
ortrade [11:42]: Kotarh, I would phrasing this way. Today there was lot of crafting of a bull day for today culminated with scheduling 4 speeches at 10. 10.30 1.15 1.30. The traders seeing that and the nine events announcments considered too risky to trade the morning. The hedge funds saw tons of contrarian opportunity and shorted the market agressively till first news time at 10.30. The weak hands thought its a good time to go long on a sideways day. The market maker knew hedge funds took their profit as the volume subsides and used that as an opportunity to set a rather narrow sideways and milk the weak hand sardines for now.. This is what we should have read as the description of what happened till now.
Andrew [11:44]: SPY now got back to yesterday's lows so looking for previous support to become future resistance.
nester [11:44]: PXP is running nicely for those looking for a long
kotarah [11:45]: chart looks great thx nester
Andrew [11:45]: I doubt today will become a bull day ortrade since even after this big bounce we're still down -75
rw [11:45]: talking heads are pumping arna
Andrew [11:46]: back short all PWER 8.94, back short all CROX 10.09
ortrade [11:49]: For now Andrew the volume is decreasing with rather tiny candle sticks.. though SPY is on the trendline weak hands may be in limbo now handing over their hard earned cash to support the exchanges and paying the spread price.. chart watch is free..
kotarah [11:52]: going for lunch hope VVUS get screwed NESTER and it opens down $5
Andrew [11:57]: I wonder if the market dynamics will switch a little bit at noon.
jolox [11:59]: Iswing64 has developed a valuable tool in his 4-9-13 ema and 20 ma setup. If you put it on a 5min chart....the 20ma is pulling up all of the other emas.....this mkt should rise today.
ortrade [12:01]: SPY displays now wide volatility just on the dtn line.. noon is typical time for possible change in market dynamics (elaborated in 10.55 post)
Andrew [12:03]: out half CROX +1.1%
jolox [12:07]: Using $SPX.X chart.....different than ETF....SPY......$SPX.X represents all S&P 500.
Sandman [12:07]: jolox How do you figure that the 20 is pulling the others when it looks like the 4 is doing the pulling.
jolox [12:08]: 4 IS LEAD...20 LAG
LEECO [12:08]: Stopped out of AUG FAS 22 calls @2.32 Loss of $0.06 incl commission =loss $60 =-2%
rw [12:10]: sandman do you buy when a low ma crosses another ma just wondering.
rw [12:11]: I am going to gym....Leeco - be careful with options - they can slowly drain you...Most expire worthless.....
picker304 [12:12]: 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
Sandman [12:12]: no I use Stochastic on a daily chart.
rw [12:13]: so you buy when sthocastic is at certain level
Sandman [12:13]: I buy when they cross---FAZ & FAS.
rw [12:14]: thanks sandman does it work out fairly well..........
Sandman [12:16]: I have it set at (Slow, 20, 2) Set it up on a nine day chart and judge for yourself.
Sandman [12:18]: But I'm not a day trader. I like to swing trade.
nester [12:19]: Sandman - has your charts told you to get into FAZ yet?
Andrew [12:19]: If CROX gets below 9.94 it might be able to take out some stops.
Sandman [12:19]: Yes but I was out getting a haircut.
Andrew [12:19]: added to FAZ 14.79 (double position)
nester [12:20]: you do that afterhours...
Sandman [12:20]: I will get in when it goes low on a minute chart.
nester [12:21]: looking like it is gasping for air again... bout to go under
Sandman [12:22]: right now its going between 14.90 and 14.70.
ortrade [12:22]: Interestingly FAZ seems reluctant to follow SPY yet.
Andrew [12:23]: I'm loaded up on FAZ now with an avg. price of about 14.735
jolox [12:23]: I am just playing with Iswings setup......HE is the real pro at it......good idea fo r webinar by him !! If you want to see it work....look at CSCO on 60min chart.....4ema has not crossed under 9ema.....this stock to me....will stay in uptrend......same with EMC. Look at a variety of stocks on 60 min chart with this setup.....you'll see it's value.
Sandman [12:26]: nester it told me to get in at 10:01 am.
Sandman [12:27]: I didn't get back until 11:30.
nester [12:27]: it is still looking decent right now.
ortrade [12:28]: volme on FAZ maybe leveling off..
Andrew [12:32]: out rest of CROX +1%
ortrade [12:33]: Made 1000$p today till now on FAZ. very happy.
Andrew [12:34]: Lots of back and forth today.
ortrade [12:37]: Some years ago I decided I was seeing too many candlesticks already. So I stopped looking at 1min charts and moved to 5min charts.. This is how very very slowly investors are born..
Andrew [12:38]: You usually look at 1 min?
ortrade [12:39]: I look now only at 5min and up.
Andrew [12:40]: back short CROX 10.00 (triple position)
Sandman [12:43]: rw did you check it out. (stochastic) ?
nester [12:44]: SCHW lookin like a brick...
ortrade [12:46]: I wander if anything else is going to happen today on the market or we are done trading for the day..
Andrew [12:46]: short ARNA 5.20 (triple position)
nester [12:48]: i'm not showing any more news out today. most all today were worse than expected
Andrew [12:49]: The jobless data was better I thought
nester [12:49]: http://biz.yahoo.com/calendar/
Andrew [12:49]: added to ARNA short 5.22
nester [12:50]: initial claims was better but the continuing claims were way worse
Andrew [12:50]: added to ARNA short 5.24
Andrew [12:51]: Oh ok
ortrade [12:52]: Just looked on Gars webminar re-cast post. The webminar is also playing tonight 8pm eastern time.
nester [12:52]: yahoo news only mentioned the initial claims. didn't see a word about the continuing
Andrew [12:53]: I missed that too nester
Andrew [12:54]: out ARNA -1.1%
Andrew [12:54]: back short all ARNA 5.26
Andrew [12:55]: out ARNA -0.38%
Andrew [12:56]: There go all my shorts, lol
nester [12:57]: what happened?
Andrew [12:58]: Just some big buying the last 10 minutes. Typical mid-day stuff.
jolox [12:58]: Gloom and Doom.......the mkt will go down till Hank comes back !!
jolox [12:58]: http://finance.yahoo.com/banking-budgeting/article/110079/the-rally-is-meaningless?mod=bb-budgeting&sec=topStories&pos=5&asset=&ccode=
nester [12:59]: lol... trying to figure out if i should bail on my FAZ calls and try to re enter at a better price or hold...
Andrew [12:59]: Actually I guess only my FAZ pulled back and my riskiest short failed (shorting a very strong stock ARNA)
nester [13:00]: i'm short only about 7 different positions
nester [13:01]: out FAZ calls +17%
Andrew [13:01]: added to CROX short 10.00 (double position)
ortrade [13:01]: I am not surprised now that FAZ goes lower now..
Andrew [13:02]: out half FAZ tiny loss
Andrew [13:03]: added back to FAZ 14.71 (double position)
Andrew [13:04]: out PWER +1%
Andrew [13:05]: added back to FAZ 14.72 (triple position)
Andrew [13:07]: out half FAZ -0.3%
Andrew [13:08]: added back to FAZ 14.63 (triple position)
nester [13:09]: FAZ showing on ameritrade at 13.97? can't be right
Andrew [13:09]: 14.61 / 14.62
nester [13:09]: shuting it down then... ?
nester [13:10]: SOMX at 4.30? missed that one...
ortrade [13:10]: IQFEED has reliable data, I belive its around 70$/month and up depending on services.
ortrade [13:12]: FAZ trying to bounce of the 50 EMA after it failed the 20 EMA bounce.
jolox [13:12]: Good options play......look at WY on 60 min chart with Iswing setup.
Andrew [13:12]: added back to FAZ 14.64 (double position)
jim [13:12]: out somx +4%
stkmrkt [13:12]: faz
nester [13:13]: lots more volume on SOMX. may be a good runner the next day or two
jim [13:13]: went out to lunch and came back with SOMX at 4.30 maybe i should leave more often
nester [13:14]: maybe... lol
kotarah [13:14]: aug calls looking good
ortrade [13:15]: I may be wrong but I dont see right now the market going lower today..
Andrew [13:17]: I'm okay going against the buying a little bit since it's mid-day.
Andrew [13:18]: added to FAZ 14.53 (double position)
ortrade [13:19]: Till now today the 13 of the month daily open on FAZ was strong resistance.
Andrew [13:21]: added to FAZ 14.53 (double position)
jim [13:22]: out UNG Aug calls 1.74 +14%
nester [13:23]: SOMX aug $2.50 calls at $1.95
Andrew [13:24]: out half FAZ -1%
kotarah [13:24]: GREAT STUFF
kotarah [13:25]: makes you want to jump off the cliff NESTER
jim [13:25]: SOMX Aug 2.50 calls at 1.90
Andrew [13:26]: added back the half FAZ 14.47
kotarah [13:28]: bought more AUG 5 calls SOMX
nester [13:29]: lol...
kotarah [13:30]: NO love
jolox [13:30]: Good options stock RSH on 60 min.
kotarah [13:31]: dont worry NESTER you have the play of the day andrew said it didnt matter on SOMX shame on you andrew
kotarah [13:32]: SOMX is up 16%
nester [13:32]: jim bought them a nickle cheaper... drivin my price down
Andrew [13:33]: For the short-term you don't normally want to trade based on news. Most of the time it's hard to know what is or is not priced in already. Gar agrees.
jim [13:33]: sorry
jolox [13:33]: LSCC on 60 min
jim [13:33]: lscc one of my favorites
kotarah [13:34]: well that one I gave you the warning not to get hung out to dry
Andrew [13:34]: I almost bought it at 3.66 but didn't pull the trigger. It looked strong on the tape then.
Andrew [13:35]: Fortunately I did get out of my short when I noticed the strength on the tape.
ortrade [13:36]: The stockmarket has the pristine beauty of nature. Most of the time you should eyeball it and enjoy what is telling you. Very seldom, for survival you should take just what you need from nature. If you take more you will create an imblance in the force and take unecessary risk which has unforseen consequences (did not want to say a giant pachiderm will be looking to sit on you.. lol)
jim [13:36]: nester you called the vol on somx above 4.5mm
kotarah [13:36]: SQNM KERX SOMX
jolox [13:37]: Andy......Gar said you trade to fast ......makes him dizzy !!
nester [13:38]: jim - been following SOMX for a while. should have a few more strong volume days then it will fall off. be up a few more days i think
kotarah [13:38]: Ill play it until dead
jim [13:39]: will be a watcher I agree play it until dead
kotarah [13:39]: take no prisoners
LEECO [13:39]: Timing-I wish I knew how to time-I bought FAS options sold them for a loss-went to lunch came back and found them where Iwould have made 11% upside and 13% above where I stopped out
kotarah [13:40]: SOMX has everything you want VOL VOL price moving up
ortrade [13:41]: FAZ bounced exactly of the adaptive on 5min.
Andrew [13:41]: short SOMX 4.20 (triple position)
LEECO [13:43]: ortrade what does that mean the adaptive on 5 min?
kotarah [13:43]: NESTER NESTER Special Reports: Weekly Volatility Event Tracker -- Intriguing Week Awaits With VVUS PanelAnticipation has been building into today's FDA Panel meeting on Qnexa, which is expected to have major implications for the company that produces it, as well as the rest of the weight-loss drug space. The stock of interest could see a +/- 60% move on the event, and competitors will be highly impacted as well, as the results of the July panel meeting will shape expectations of their catalysts on the horizon. One of the options ideas we pointed out ahead of this event has already returned +140%.
ortrade [13:43]: adaptive moving average on 5min chart: http://www.onlinetradingconcepts.com/TechnicalAnalysis/MAAdaptive.html
jolox [13:44]: SOMX has failed twice on 60 min to cross 200 ma.......third time may be charm.
kotarah [13:44]: HOPE THIS WORKS OUT GOOD
LEECO [13:45]: ortrade I'll look it up
nester [13:45]: starting to get worried on it...
kotarah [13:45]: NO NO your good so far
jim [13:45]: VVUS +/- ?
ortrade [13:45]: Interestingly till now, FAZ chart yesterday looks like todays chart under telescop.
nester [13:46]: yes, it hasn't moved... good until then i guess
nester [13:46]: jim - yes, VVUS
kotarah [13:46]: If VVUS gets denied the buy all the ARNA OREX options you can ARNA
Sandman [13:47]: ortrade on yesterdays chart what time was the low?
LEECO [13:47]: orttrade couldn't find adaptive moving averages in Tech Analysis A to Z nor "plain &Simple by Kahn
nester [13:47]: r you going to buy a straddle on that?
kotarah [13:48]: Im very close
jim [13:48]: kot let us know if you do
kotarah [13:48]: VVUS is the big boy on the block if it gets killed the ARNA will fly
nester [13:49]: i'm already holding more than i like to. i'll just watch you make money on this...
Sandman [13:49]: ortrade never mind I know it was 12:30.
ortrade [13:49]: 12.35. I meant the same in shape. We opened with upthrust on faz set there for long period and pulled back significantly.
LEECO [13:50]: ortrade I nfound it on line-but how do you use it?
jolox [13:50]: http://www.onlinetradingconcepts.com/TechnicalAnalysis/MAAdaptive.html
jim [13:50]: I think we are going green
nester [13:50]: that may be a safe option anyway. if VVUS gets approved and runs up, it will pull the others, so a call may be a good play
Andrew [13:51]: added to SOMX short 4.19 (double position)
kotarah [13:51]: I kept on posting ARNA for days as a BIO watch I hope people bought it
ortrade [13:51]: Leeco, the adaptive comes with certain software. In omnitrader I use the (14,14,14) settings. I use it like other MA types. The reason I like it if price disregards other MA's more then often it respects the adaptive.
Andrew [13:52]: It's one of the few true breakouts in this market.
kotarah [13:53]: NO NO ANDREW Look at SOMX form 2.85 and SQNM @ 5.30 all posted look at them now
kotarah [13:54]: got to run
Andrew [13:54]: Breakouts on the daily chart I mean. SOMX and SQNM had horrible daily charts.
Andrew [13:54]: out 1/5th SOMX +2.5%
Sandman [13:56]: Next time the bid price goes below 14.50 I'm in.
Sandman [13:58]: I meant the asking price not the bid.
LEECO [13:58]: I have observed in the last 4 days the low for the DOW occurs about 14:25 to14:45
Andrew [13:59]: Perhaps fakeouts prior to the last hour.
ortrade [14:00]: For those who donot care about market speeches note today at speech time we had either the largest candles of the day on FAZ or momentum blockage/reversal. The news times were 10. 10.30 1.15 and 1.30.
jim [14:04]: gww running
Andrew [14:04]: added back to SOMX short 4.17
Andrew [14:05]: added to FAZ 14.48 (double position)
Sandman [14:05]: Bought 800 FAZ at 14.49
ortrade [14:07]: SPY is walkin the line now on the multiday dtn on 5min. But if you look closely it is realy in a consolidation and a rather untradable EMA configuration. That FAZ sitting on the adaptive with large intrabar volatility is share trouble..
ortrade [14:09]: The fishing market maker ponds are the critical price & pattern points/levels..
Andrew [14:12]: out 1/5th SOMX +2.65%
Andrew [14:13]: out half FAZ +0.45%
Andrew [14:13]: Just lightening up in FAZ since I took on a lot on that pullback last hour
ortrade [14:16]: Not on FAZ 5min there is a nasty red to green reversal starting at 2pm. Yesterday we had similar 2 nasty reversal at 3.05 and 3.40 on FAZ I donot anyone to get caught in that on the wrong side with a large amount..
ortrade [14:16]: meant Note on FAZ ..
Andrew [14:17]: Yeah it's annoying how common those shenanigans are
Sandman [14:18]: I'm in until Stochastic turns down. No matter how many days.
ortrade [14:20]: Since the 14.30 yesterday pattern is so uncommon I am very curious whether today the market will do anything else but copying it..
jolox [14:20]: DELL...EMC.....MOT.......now good opts plays
Andrew [14:20]: added back to FAZ 14.50 (double position)
Andrew [14:21]: out rest SOMX +1%
Andrew [14:25]: added to FAZ 14.54 (double position)
Andrew [14:25]: out CROX -0.4%
Andrew [14:28]: out FAZ -0.73%
Andrew [14:29]: long FAS 22.40 (5x position)
Andrew [14:31]: back short SOMX 4.12 (triple position)
jim [14:31]: out fas aug $22 calls 2.65 +4%
madriver [14:32]: ARNA is imploding
Andrew [14:32]: Huge profit-taking
madriver [14:33]: expected
Andrew [14:33]: long ARNA 5.22 (triple position)
madriver [14:33]: after that run
madriver [14:34]: looks to me to headed to 5.15 range
ortrade [14:34]: not suprising SPY has some problem here with higher levels just below its daily low. Good entry on FAZ on for 2 or 3 5min bars..
Andrew [14:34]: That looks pretty likely
Andrew [14:35]: added to ARNA 5.19 (double position)
Andrew [14:38]: out 1/5th ARNA +2%
Andrew [14:41]: out rest of ARNA +1.2%
Andrew [14:41]: added to SOMX short 4.11 (double position)
madriver [14:41]: looks like some buyers are coming back in
Andrew [14:42]: out FAS no gain/loss
Andrew [14:42]: back in all FAZ 14.43
madriver [14:43]: andrew....did you see the post late yesterday regarding gravestone doji?
Andrew [14:43]: Yes I did :)
ortrade [14:45]: spy just made a huge bar taking out stops all the way to 109.6 level.. interesting
Andrew [14:45]: Huh?
ortrade [14:46]: FAZ 3000s@14.43p
Andrew [14:46]: Oh must have been a bad tick. Most stops are probably safe so long as they are server-side.
forrestww [14:49]: i said i wanted to learn, i find i do not have the fortitude for day trading!!
Andrew [14:50]: out FAZ -0.56%
Andrew [14:50]: out SOMX +2.33%
madriver [14:51]: Oversold has produced some good winners if you're a little patient. both ID and BPZ have made nice moves
Andrew [14:51]: It's been a pretty sloppy day to day trade unless you were able to catch the big down move this morning and the big up-move mid-day.
Andrew [14:51]: Hardly anything is working well in What Works.
madriver [14:52]: I picked those 2 from oversold over the past 3 days and paid off.....pretty good
Andrew [14:52]: Cool
Andrew [14:53]: back in all FAZ 14.33
madriver [14:54]: so for the newer people I'm just saying the screens are great but need patience and you always do your own research!!!
picker304 [14:54]: Very good point Mad and thank you
madriver [14:55]: thx
Andrew [14:56]: back short SOMX 3.99 (triple position)
madriver [14:57]: hey nestea....what you got going?
ortrade [14:59]: Exit FAZ no gain/loss.
Andrew [14:59]: added to SOMX short 3.99 (double position)
nester [14:59]: hey mad. SOMX calls ERX puts. neither are workin at this moment; however, i'll hang on to them. can't talk myself into FAZ yet also VVUS short... scary right now
forrestww [15:00]: andrew, i have got to admire your sheer doggedness LOL
madriver [15:01]: arna is falling off a cliff
madriver [15:01]: he is persistent till the end daily
Andrew [15:02]: This is one of those days where I have to work extremely hard. Some days are a whole lot easier.
madriver [15:02]: nester....just looking at the VVUS......I like that short here I think
Andrew [15:02]: I've been scalping out trades I've should have held and holding trades I should have taken profits on sooner.
Andrew [15:03]: out SOMX -1%
madriver [15:04]: is vvus halted..chart hasn't changed?
Andrew [15:04]: Yes. It has been halted all day.
ortrade [15:05]: I'd be very surprised to see FAZ going lower..
ortrade [15:06]: After 2.30 I will narrow my target on FAZ to +225$p
madriver [15:08]: Nester where did you short vvus? price?
Andrew [15:08]: Huge selling again perhaps?
nester [15:09]: i got VVUS short at 12.63
Andrew [15:09]: out half FAZ +1.4%
nester [15:10]: they halted tradin on it at 12.20. held on to it... oh well.
kotarah [15:10]: Look NESTER, ANDREW tried to kill SOMX again
madriver [15:10]: why halted for such a long time?
nester [15:10]: i know... whats with that ?
Andrew [15:10]: I did very nicely too.
madriver [15:10]: ARNA is dead!
Andrew [15:10]: lol, we can all win
kotarah [15:10]: DISCUSSION ON SAFETY
picker304 [15:11]: Anyone here who is new -- There is a free online seminar that explains valuable basics about StockVision. This will be re-played tomorrow night, Saturday night and Sunday night. More info is on the site -- www.garsworld.com/webinars.htm (this will give you a ton of understanding about our product here).
Andrew [15:11]: out 1/3rd remaining FAZ +1.75%
kotarah [15:11]: NOT YET It will move up again if VVUS gets a bad report
nester [15:11]: the longer it takes them to get it going, the more confident i am on the right side of that decision
madriver [15:11]: so they halt trading because they are discussing safety?
kotarah [15:11]: I believe
kotarah [15:12]: YES
kotarah [15:12]: Tere is a lot of issue with VVUS
Andrew [15:13]: out another 1/3rd FAZ +1.4%
nester [15:13]: i still like them short...
kotarah [15:13]: I feel the love
kotarah [15:14]: ANDREWS waiting to kill it some more he only wounded it yesterday
madriver [15:14]: this runups in bio seem to last a few days then just wait to pounce on short side
Andrew [15:14]: I go both ways on biotechs
madriver [15:14]: if you're real focused play them both sides
nester [15:14]: i just hope it doesn't get stuck at $4.05 like it did last time
Andrew [15:14]: added back to FAZ 14.61 (triple position)
kotarah [15:15]: I am a one way guy buy get out but the key is you have to know which one
Andrew [15:15]: This is about what I was expecting to happen to the market last hour. That would have made things a whole lot easier.
jolox [15:16]: BOSTON (MarketWatch) -- Investors bid shares of diet-drug developer Arena Pharmaceuticals higher Thursday, ahead of a Food and Drug Administration panel meeting on a weight-loss product candidate made by rival Vivus Inc.
More broadly, the sector's two leading indexes moved lower as stock benchmarks on Wall Street staged a broad retreat.
PM Report: FDA Panel Backs Glaxo's Avandia DrugAn FDA Panel voted this afternoon to keep GlaxoSmithKline's diabetes drug Avandia on the market. Alicia Mundy has details from Washington. Plus, Paul Vigna on the Fed Minutes and market reaction to them and the White House's latest stimulus push.
The NYSE Arca Biotechnology Index /quotes/comstock/10t!btk.x (BTK 1,044, -2.21, -0.21%) fell 0.8% to 1037.88, while the NYSE Arca Pharmaceutical Index /quotes/comstock/10t!drg.x (DRG 287.64, +0.21, +0.07%) was nominally lower at 287.30.
Shares of Arena /quotes/comstock/15*!arna/quotes/nls/arna (ARNA 5.10, +0.82, +19.12%) rocketed 18% to $5.05.
Later Thursday, the FDA panel will discuss whether the agency should approve Vivus' diet-drug Qnexa, one of three new diet drugs up for U.S. approval. The others are Arena's lorcaserin and Contrave, developed by Orexigen Therapeutics /quotes/comstock/15*!orex/quotes/nls/orex (OREX 5.56, +0.01, +0.09%) .
While the FDA isn't bound to follow the recommendations of its panels, it generally does so.
Meanwhile, trading was halted in shares of Vivus /quotes/comstock/15*!vvus/quotes/nls/vvus (VVUS 12.11, 0.00, 0.00%) pending the outcome of the FDA meeting. Orexigen shares were largely flat at $5.56.
Anticipation over the FDA meeting was one of several factors contributing to the buying in Arena shares, which also were stoked by news that data from a two-year clinical trial for lorcaserin showed that users lose more weight than those taking a placebo. The results are published in the current edition of the New England Journal of Medicine.
Also boosting Arena shares was a Wednesday FDA panel meeting convened to discuss the cardiovascular risks posed by Avandia, a leading diabetes drug developed and marketed by GlaxoSmithKline PLC /quotes/comstock/13*!gsk/quotes/nls/gsk (GSK 36.91, +0.56, +1.54%) .
Of the three diet drugs that the FDA's considering for approval, lorcaserin is believed to carry the lowest cardiovascular risk
kotarah [15:16]: POSTED already
nester [15:17]: i'll be passin the hat around if i get killed on it... will need food money
jolox [15:17]: For my friend mad
Andrew [15:17]: added to FAZ 14.58 (triple position)
madriver [15:17]: thx
Treacherous_Cretin [15:19]: hello people
Treacherous_Cretin [15:19]: looks like was a fun market today
Treacherous_Cretin [15:19]: ots of good charts
madriver [15:20]: i say things haven't changed since yesterday and we'll close around 50 IMO
madriver [15:20]: -50 that is
Andrew [15:20]: It got really sloppy today from 10:30-12:30 and 1:30-3:00pm. There have been a few nice moves scattered throughout though.
jolox [15:20]: two very large females on the commitee are begging to sign a waiver,and begin taking Qnexa right away,they had to call a recess to regain control of meeting,total chaos!!
Andrew [15:20]: out 1/4th FAZ +1%
Treacherous_Cretin [15:21]: I would hope we close below 1080 on s&p
Treacherous_Cretin [15:21]: don't see why the market would go up
Andrew [15:21]: Short squeeze?
Treacherous_Cretin [15:21]: it only bounced from a technical level on some low volume short covering as far as I can tell
madriver [15:21]: why would it go down?
rw [15:22]: saw a sign on cnbc that said dow 5000 ?
kotarah [15:22]: I will send it right away NESTER
Treacherous_Cretin [15:22]: I would be putting a helmet on for the close
ortrade [15:22]: market likely will go up now.
rw [15:22]: Yes TC.
nester [15:22]: thx kotarah.
rw [15:22]: People, even traders are scared.
kotarah [15:23]: However I will come to you for money when VVUS gets killed
Treacherous_Cretin [15:23]: well for starters the fed ditched its second half recovery pom-poms and now says things will be at best stagnant for 5 years or more if they don't deteriorate
LEECO [15:23]: T_C-YOU THINK BOZOS ARE GOING TO BEAT MARKET DOWN TO THE CLOSE INSTEAD OF WHAT THEY DID EVERY OTHER DATY up?
rw [15:24]: No good forthcoming news today Leeco
Treacherous_Cretin [15:24]: if a gun was to my head I would say we close on the lows leeco
madriver [15:24]: TC.....I don't think it matters
Treacherous_Cretin [15:24]: I was not here almost all day, so others may have a better feel for the market than I do
Treacherous_Cretin [15:24]: do what you see, not what I say
madriver [15:24]: if it mattered that much TC this market should be down 400 today,,,that news was horrible
LEECO [15:24]: Iwould never threaten you with a gun T_C
Treacherous_Cretin [15:25]: it doesn't matter right now, but it is going to matter soon
madriver [15:25]: I agree with that statement.....TC
rw [15:26]: charles nenner - timer for gs twelve years - says that dow will go to 5,000 he says short term makes no difference 2006 he says it will take two and half years for it to get to 5,000 talking now....a japan issue........
Treacherous_Cretin [15:26]: don't think a close around 1075 on s&p is unlikely
rw [15:26]: he says stocks will peak in about a month.
kotarah [15:26]: well if it is it will go alot more down
Treacherous_Cretin [15:27]: we can all theorize, but you can't trade that rw
madriver [15:27]: he's probably comparing US to Japan's "lost decade"
Andrew [15:27]: back short all of my SOMX 4.02
Treacherous_Cretin [15:27]: we have to work with is right here, right now
kotarah [15:27]: bounced of 1080 support today looks like its holding
madriver [15:27]: that's really old stuff to be truthful
madriver [15:27]: that's been floated a million times
kotarah [15:28]: what has been floated you dont get it?
madriver [15:28]: what?
karenbcz [15:29]: I have NO CASH left. ALL IN FAZ! Every freggin' dime!
Andrew [15:29]: added to SOMX short 4.04
kotarah [15:29]: I pay close attension to S&P ANDREW with SPY there indicators
madriver [15:30]: kot...what don't I get?
Andrew [15:30]: added back to FAZ 14.42 (double position)
rw [15:30]: karen:::I think you will be ok over time - may be rough next month......i think you will prevail I have a big big load of DXD which is short the down two times - increased it yesterday big time also short Gold
kotarah [15:31]: you said its been floated a millions times your at the water hole if you dont drink you go thirsty
rw [15:31]: short the dow
madriver [15:31]: rw IMO you gotta turn off CNBC to take emotion out of trading....that will drive you nuts
Andrew [15:31]: Big buy spike there. Could just be volatile sideways trading into the close. A big rally is also possible.
Treacherous_Cretin [15:31]: the only reason I can think of that the market may have ramped 800 points on "nothing" and why it has not really dropped yet is that the market has been pricing in QE2.
Andrew [15:32]: added to FAZ 14.40 (double position)
jolox [15:32]: FDA vote on VVUS after the bell......sentiment favorable.
Treacherous_Cretin [15:32]: yeah mad...tv is awful. cnbc is a death wish
nester [15:32]: figures...
kotarah [15:32]: I think its antisipaction of earnings now nothing has changed except for EURO LAND
Andrew [15:33]: added to FAZ 14.34 (double position)
rw [15:33]: I hear many others here reporting news - what is the difference if I report news? IF you like I will cease doing that.
madriver [15:33]: that stinks
kotarah [15:33]: money is @ 1.26
kotarah [15:33]: If you do that RW i will stop as well
karenbcz [15:33]: RW; I don't even have grocery money now ... only dog food! LOL!
Andrew [15:34]: Posting news is good
rw [15:34]: I hope you do well Karen
Treacherous_Cretin [15:34]: what is your price entry on faz karen?
madriver [15:34]: I don't think anyone has a problem reporting news...I don't
rw [15:34]: Kotarah: I meant nothing to you -----just someone always complaining when I post some article........just asking that is all
Andrew [15:34]: What was the news around 3:25pm?
madriver [15:35]: about Japan?
nester [15:35]: Congress sends Obama sweeping Wall Street bill
Congress passes, sends to Obama sweeping new Wall Street regulations, consumer protections
kotarah [15:35]: still haning in NESTER looking good
Andrew [15:35]: Oh ok
kotarah [15:35]: there goes the market
rw [15:36]: THanks Andrew -----I agree.
madriver [15:37]: rw...if you are referring to me on Japan....I was commenting on the news...not you....don't take it so fricken personally!!!
kotarah [15:37]: Are you contemplating Limit order on VVUS after market NESTER?
fwguyus [15:37]: question regarding taking profits
nester [15:37]: yup...
kotarah [15:37]: ATA boy
fwguyus [15:37]: whats the best way to max. profit taking...
rw [15:37]: Sorry madriver.....I mis read what you said.....Forgot to take meds also.
nester [15:37]: the problem is if it gaps up big.
Andrew [15:38]: out half FAZ -0.6%
ortrade [15:38]: Not surpsing the market pulled back really big as I posted. That follows my earlier post on FAZ repeating its segment after 2.25pm. Note the savy traders saw that and the second spike on the green side was strongly accentuated after which the 3.20 giant pullback followed.
fwguyus [15:38]: should it be broken out...into say 3 times..per trade?
Andrew [15:38]: out rest of FAZ -1.2%
rw [15:38]: (slamming drawer on wrist)
kotarah [15:38]: still youll get out with less injury
Andrew [15:38]: out SOMX -0.66%
Andrew [15:39]: back in all FAZ 14.21
nester [15:40]: huge tick +1180
Treacherous_Cretin [15:40]: might try FAZ at 14ish
jolox [15:41]: Mkt on rise....BP has control of ALL oil flow.
fwguyus [15:41]: TLAB pulling up nicely
madriver [15:41]: that's goog news
madriver [15:41]: good
fwguyus [15:41]: Yea it only took like 3 months...
fwguyus [15:42]: and 5% world ruined...
rw [15:42]: Market may cloe even today
madriver [15:42]: bp made huge month few mintues ago
madriver [15:43]: move
madriver [15:43]: can't spell
Andrew [15:43]: out FAZ no gain/loss
Andrew [15:43]: long FAS 22.79 (quadruple position)
Andrew [15:44]: added to FAS 22.86 (quadruple position)
jolox [15:44]: BP forced English Gov to back release of Lockerbee bomber...so they could get 20 billion lease from Kadafi.
Andrew [15:44]: I vote in favor of short squeeze into the bell
Treacherous_Cretin [15:44]: yeah looks that way now andrew
madriver [15:44]: hero is going along for the ride
karenbcz [15:45]: Sorry, TC ... just saw your message. I bought 3,000 shrs. of FAZ @ $14.03 on 7-13-10. Just bought another 1,000 shrs. @ 14.33.
fwguyus [15:45]: guys TLAB pulling up
Andrew [15:45]: Everything should be right now fwguyus b/c large market rally going on.
jolox [15:46]: TLAB mentioned yesterday.
Treacherous_Cretin [15:46]: LOL maybe today is the day s&p will smash 1100 and take out the stops
nester [15:46]: their going to drive this pig green, aren't they?
LEECO [15:46]: T_C-told you Bozos would push DOW up at close
Andrew [15:46]: Good call Leeco.
fwguyus [15:46]: ARNA taking a nose dive
Treacherous_Cretin [15:46]: yes, leeco. and I told you I was not sure
jolox [15:47]: Hey....Cookie......What's in bucket number 3 ??
Treacherous_Cretin [15:47]: interesting how market has ramped on not much volume though
karenbcz [15:47]: TC - I also have smaller shrs. @ 17.64, 17.29.
Gar [15:48]: It is amazing to me how relentless these bulls are. Wouldn't mind so much except it is always on pathetic volume.
karenbcz [15:48]: Holy smokes!! Look at DOW. I might be eating ALPO for while! LOL!
Treacherous_Cretin [15:48]: I threw DO on the paper trader at 65.84. That was easy money
Andrew [15:48]: The volume has increased a ton in the last 25 minutes with the big buying.
madriver [15:49]: financial regs passed.....I guess that takes some uncertainty out of financials
Gar [15:49]: But..they are buying...ON WHAT?
Treacherous_Cretin [15:49]: if they shoot s&p over 1100 this will be a lunar short
karenbcz [15:49]: GAR: Have you ever noticed .... everytime you say the bulls are relentless ... we CRASH within 5 days? LOL!
madriver [15:49]: financial regulation
LEECO [15:49]: IF i just had the ourage of my conviction-I could have made $500 on FAS Aug 22 calls between 3:25 & 3:45-Chicken-been burnt earlier today on same options
kotarah [15:49]: antisipation
Andrew [15:49]: Was there some specific news right around 3:25pm though?
LEECO [15:49]: courage of my convictions
Gar [15:49]: karen, well yes. Because the spiking up is ridiculous, bound to correct.
madriver [15:49]: financial regs
karenbcz [15:50]: GAR: everytime you call the buyers "Bozos" .... that's my signal to go short. LOL!
Andrew [15:50]: Oh I thought that passed a few hours ago.
nester [15:50]: hasn't been signed yet
madriver [15:50]: they may as well sign and get it over with
Treacherous_Cretin [15:50]: sold DO for 65.94
karenbcz [15:51]: GAR; say "Bozo" ... so I can buy some FAZ on margin this time! LOL!
Gar [15:51]: Bozo
madriver [15:51]: you know it looks like the BP thing got everyone happy this afternoon
Treacherous_Cretin [15:51]: probably will shoot off now
karenbcz [15:51]: Treacherous: did you see my posts to you?
jolox [15:51]: It's.....summertime and the.....livin is easy.......fish are.......
kotarah [15:51]: WHO LOVE YA NESTER Special Reports: Weekly Volatility Event Tracker -- Intriguing Week Awaits With VVUS PanelAnticipation has been building into today's FDA Panel meeting on Qnexa, which is expected to have major implications for the company that produces it, as well as the rest of the weight-loss drug space. The stock of interest could see a +/- 60% move on the event, and competitors will be highly impacted as well, as the results of the July panel meeting will shape expectations of their catalysts on the horizon. One of the options ideas we pointed out ahead of this event has already returned +140%.
Treacherous_Cretin [15:51]: yes I did Karen
karenbcz [15:51]: GAR: oh noooooooooooo!! Don't make me do it! LOL!
rw [15:51]: where is the good sheperd today?
madriver [15:52]: dead
kotarah [15:52]: nester???
nester [15:52]: yes
JayBird [15:52]: jumpin'
kotarah [15:52]: VVUS no approved
karenbcz [15:52]: oh hey Nester! Last chance to get FAZ cheap! lol!
Andrew [15:52]: out 1/4th FAS +1%
kotarah [15:53]: Weightloss drug peers Arena Pharm (ARNA) and Orexigen Therapeutics (OREX) dropping as headlines cross that VVUS Qnexa drug not approved
madriver [15:53]: good news for nester
nester [15:53]: not going to trade until after close...
madriver [15:53]: ouch
kotarah [15:53]: PLAY OF THE DAY NESTER
Andrew [15:53]: Great nester!
fwguyus [15:53]: ARNA just got beat to the ground..
jolox [15:53]: 7 yes, 9 no. Vote against approval
madriver [15:53]: sounds like you're going to be making some big change
kotarah [15:53]: YOU LUCKY BASTARD
Treacherous_Cretin [15:53]: karen, I said I would not comment on your trades, but if you really truly have every last dime you own in FAZ at 14.03 you should consider protecting yourself
Andrew [15:54]: It's always nice when stuff actually goes your way.
nester [15:54]: karen - FAZ won't buy until i see a change
madriver [15:54]: that think will SUPER tank...............................
nester [15:54]: ain't it though...
karenbcz [15:54]: TC- I'm protected. I've got food, water, guns and ammo. No problem.
kotarah [15:54]: I dont know how you did that
Gar [15:54]: I am utterly dumbfounded by this "rally."
madriver [15:54]: paranoia
karenbcz [15:55]: Mostly beans and dog food tho' :>(
ortrade [15:55]: BP 3000@39.38p
Andrew [15:55]: out another 1/4th FAS +1.3%
Andrew [15:55]: UUP has been at lows for a while
kotarah [15:55]: coming over to help MR NESTER carry all the money
jlm1 [15:55]: Yes and look at the reset on the belt buckle gar
karenbcz [15:55]: Oh stop it, Gar! LOL! Pls don't make me buy more FAZ! LOL!
Gar [15:55]: Wasn't the Dow -100 not 45 minutes ago? This isn't normal trading by ANY standard I can think of.
nester [15:55]: i told you, that chart was crap... when it turned late yesterday, i shorted it over +4% then this thing...
Andrew [15:55]: No it had recovered to -50 mid-day.
fwguyus [15:55]: looks like the biotech just toook a cra*p
karenbcz [15:55]: Yes, Gar. A SURE SIGN ... we crash n' burn soon.
nick14 [15:56]: look at the Bear Bull trend Gar!!
Gar [15:56]: Andrew I swear I saw the Dow -90's less than an hour ago.
karenbcz [15:56]: THanks Nick. GOod point!
Andrew [15:56]: nester are you going to try and hold some VVUS into tomorrow after the open so more swing traders freak out and stops are taken out?
nester [15:56]: it was Gar
Treacherous_Cretin [15:56]: am very tempted to Lunar FAZ here
Gar [15:56]: Hmm...this is a textbook lunar short setup them. All signs point to a hammering.
nester [15:56]: i have a stop place up to 12.40
karenbcz [15:56]: Hey guys! LOOK at the Bear/Bull indicator!
Gar [15:57]: Any minute now the CNBC cheerleaders will be squawking their heads off about the Dow finishing green.
Andrew [15:57]: Oh yeah I think you're right Gar that it did go back to -100 around 3:15pm.
karenbcz [15:57]: Tell 'em. Gar! Prepare your SHORTS people!
Andrew [15:57]: out rest of FAS +1%
Treacherous_Cretin [15:57]: in FAZ for a lunar
nester [15:57]: karen - shorts is all i have...
Andrew [15:58]: Market was very impressive today shaking off some bad news.
nester [15:58]: and a -130 on the DOW
karenbcz [15:59]: Remember THIS MOMENT people! Don't say you didn't have a "chance".
Gar [15:59]: Impressive...perhaps. However, I will say the same thing I have said several times. This much volatility = weakness, never strength.
karenbcz [16:00]: Yes, Gar. This rebound indicates weakness. DOW is STILL down.
Treacherous_Cretin [16:00]: closed the FAZ just because leaving 1% on the table for who knows what risk is not sensible
fwguyus [16:00]: Can someone tell me what just happen to the biotech's at the last min......
Gar [16:00]: Well it's not the rebound per se. It is the huge swings. That kind of stuff always indicates weakness.
Andrew [16:01]: Which biotechs?
Treacherous_Cretin [16:01]: C and BAC will have fake earnings and there is no real data tomorrow. Besides that market could ramp ahead of GOOG earnings
fwguyus [16:01]: arna
fwguyus [16:01]: orex
Andrew [16:01]: ARNA seems to have been hurt by a related FDA announcement
Treacherous_Cretin [16:01]: I do THINK the market could super tank tomorrow, but I don't trade what I think. I trade what I see
Andrew [16:02]: Same with OREX
fwguyus [16:02]: wow....
Andrew [16:02]: It was a news event
Gar [16:02]: That's a good point TC. If I traded what I "think" I would have been short for many weeks.
Treacherous_Cretin [16:02]: got paper account up 20% on the month already with not much trading and lots of lousy entries with stops for small gains
Treacherous_Cretin [16:02]: exactly Gar
karenbcz [16:03]: I SEE weakness. PERIOD!
Andrew [16:03]: Sudden news can destroy technicals. Be careful with biotechs.
Treacherous_Cretin [16:03]: you can only do what the market is doing
kotarah [16:03]: It shouldnt have at all Its drug is very different than VVUS has minimal side effects
nester [16:03]: VVUS still isn't trading
fwguyus [16:03]: wow ..what a scam..
Gar [16:03]: TC is right. Even if the market is being totally stupid, you have no other choice than to go with it. That being said, SV is very very bearish.
Andrew [16:03]: nester if VVUS had really bad news I recommend hold at least some until after 9:30am so the general public stops get taken out
kotarah [16:04]: RELAX MR NESTER youll get that THis stock will drop to 7
Andrew [16:04]: You can really go for the throat
kotarah [16:04]: why 12.40??
Treacherous_Cretin [16:04]: fake earnings from C and BAC and GE premarket can destroy FAZ and gap the s&p over 1100 and cause a monster short squeeze
nester [16:04]: i placed a stop. should hold all nite
Treacherous_Cretin [16:04]: 1100 is too obvious a resistance as I have been saying this week
kotarah [16:05]: THIS IS A ONE WAY TRIP STRAIGHT DOWN
nester [16:05]: still have 2% profit at 12.40 bought at 12.63
Treacherous_Cretin [16:05]: always have to be ready and expect the unexpected
Gar [16:05]: GOOG getting hammered on earnings.
Treacherous_Cretin [16:06]: I thought we would crash into close but bagged 3% on two simple easy trades because I did the opposite of what I thought
Treacherous_Cretin [16:06]: goog was today?
Andrew [16:06]: A biotech with bad news might be a good one for a multi-day short with a wide trailing stop.
Andrew [16:06]: At least on half the position
fwguyus [16:06]: holy moly made 7% on acpw
karenbcz [16:06]: what you "thought"?? You just said you don't trade on what you think! What did you SEE?
karenbcz [16:06]: :>)
Gar [16:07]: karen, he just said he traded opposite to what he thought.
Andrew [16:07]: Wow GOOG down a lot
rko [16:07]: GS running up
Treacherous_Cretin [16:08]: I saw the market going up despite what I thought so I bought DO
karenbcz [16:08]: fine. but I what to know what he SAW.
Treacherous_Cretin [16:08]: saw FAZ holding around 14 so I bought and bagged for 1%
karenbcz [16:08]: There ya' go!! THAT'S the answer I was looking for!
kotarah [16:08]: why 12.40 NESTER?/
karenbcz [16:08]: Thank you sir!
nester [16:08]: what do you want?
Andrew [16:09]: The huge 15:25-15:30 bar in the market should have gotten even the bears thinking about the possibility of a huge short squeeze. Confirmation was the failure for people to take profits around 15:45.
kotarah [16:09]: I want to be just like you when I grow up
nester [16:09]: lol... 12.40 is 2% gains
Treacherous_Cretin [16:09]: all I know is this market is crazy
kotarah [16:09]: How much is a 10 drop?
Andrew [16:10]: Today was one of the craziest days I've seen in a while.
Treacherous_Cretin [16:10]: tomorrow is options crap too
Treacherous_Cretin [16:10]: that may have had something to do with today's nutsness
Andrew [16:10]: Oh yeah good point.
Treacherous_Cretin [16:10]: last few expirys have had wonky thursdays
Andrew [16:10]: Options expiration has become a multi-day event.
Treacherous_Cretin [16:11]: Forgot about that and doubly glad I closed FAZ
Treacherous_Cretin [16:11]: I don't like trading option days
nester [16:11]: got to go. c'ya later
Andrew [16:11]: Nester you're going to make a fortune probably.
Treacherous_Cretin [16:12]: knights friend FBP dropped to .40 I hope nobody is holding that bag
JayBird [16:14]: Fortunately I sold 1/2 FBP position in afterhours for .62. .40 is ugly indeed
Andrew [16:15]: It seems like those sub-$1 stocks rarely wind up working out well.
Treacherous_Cretin [16:16]: knight says he does well with them. I have no idea. A lot of those gap down a lot lower than his system stop. I wonder what he really nets when he has a winner after the losers are added up
JayBird [16:16]: Now FBP is back to .52 mo betta
Andrew [16:16]: 0.40 was just a weird after hours print.
Andrew [16:16]: It closed at 0.5169 and is currently trading 0.48 bid and 0.55 ask approximately.
rko [16:17]: AMD earnings blowout, BP stops leak, GS reaches settlement... Cramer will be insufferable tonight
Treacherous_Cretin [16:17]: anyways, to each his own. Knight think's I don't like him...which is not true. I just don't like that a lot of people who have no risk management abilities follow him and get left holding the bag
Andrew [16:17]: I look forward to watching. I'm a fan of Mad Money.
rko [16:18]: I always watch Mad Money... like fingernails on a chalkboard
Andrew [16:19]: He was throwing eggs the other day.
rko [16:19]: Hilarious
Treacherous_Cretin [16:19]: still can't believe some poor sot that lost it all on his calls has not assasinated him....not that I wish him harm
rko [16:20]: Jeez look at AMD go... do circuit breakers work after-hours?
Andrew [16:20]: I sometimes get some short sale ideas from his recommendations since the public often just puts in market buy orders the night before and the specialist gaps them up a lot. An example was NVDA yesterday.
rko [16:20]: Andrew, I do the same thing... LOL
Andrew [16:21]: I do like how he's trying to get more people interested in investing and to learn more about how it all works.
Andrew [16:21]: I also like his work as a hedge fund manager.
rko [16:21]: The more the merrier
Andrew [16:21]: I don't really pay much attention to the actual stocks he recommends though.
kotarah [16:21]: He has been caught out there alot and his picks are 50/50
Andrew [16:22]: He probably should focus less on quantity of picks and more on quality and how to manage the risk.
Treacherous_Cretin [16:23]: I cant stand him or any cnbc. seldom watch any financial news. I rather read. Facts seem clearer without the personalities
Andrew [16:23]: I think it's good that he's trying to get people away from buy and hold.
rko [16:23]: Cramer did say "Buy and Hold" is dead.
Treacherous_Cretin [16:24]: he is not the guy for that andrew. He is a clown and has to play the part. Nobody should seriously take advice from someone who says booyah and throws eggs
Andrew [16:24]: Yeah watching CNBC during the day got pretty annoying. Bloomberg is sometimes a little better and more advanced.
rko [16:24]: The only reason I watch CNBC is to take contrarian positions
Andrew [16:24]: You just can't take anything on TV too seriously, right?
Treacherous_Cretin [16:25]: I can't take TV period.
Treacherous_Cretin [16:25]: bye folks
Andrew [16:25]: It's more just to hear differing viewoints to remind you that you need to be planning carefully for the chance that you're the one who's wrong and they're right (i.e. motivation to manage risk better).
kotarah [16:25]: he was vilified on jon stewart for telling people to buy buy and he was selling there is an artical called death star its all about what happened to DNDN a long artical I can email it if anyone is interested
Treacherous_Cretin [16:25]: be well
jolox [16:25]: AMD beats earnings......11/.09
JayBird [16:26]: Agree TC....I can't find anything on TV that's worth my time.....sad
Andrew [16:26]: That Jon Stewart video was awesome! Like his point, why do you even need to be making so many picks in a ragining bear market.
Andrew [16:26]: raging
jolox [16:27]: Antiques Roadshow
kotarah [16:27]: Death star is even more enlighting
kotarah [16:27]: its how these guys opperate and manipulate hedges
jolox [16:27]: FastMoney
JayBird [16:28]: OK...jolox....that show is interesting
JayBird [16:28]: Roadshow...don't know FastMoney
jolox [16:28]: Jersey Shores
kotarah [16:28]: Weightloss drug peers Arena Pharm (ARNA) and Orexigen Therapeutics (OREX) dropping as headlines cross that VVUS Qnexa drug not approved
kotarah [16:29]: Goldman Sachs: NY Times reports that Goldman Sachs' settlement with the SEC will include $300 mln in fines and $250 mln in restitution for a total of $550 mln (145.22 +6.16)Stock trading $149.40 in after hours.
jolox [16:29]: They got off with slap on wrist.
Andrew [16:30]: http://www.thedailyshow.com/watch/thu-march-12-2009/jim-cramer-extended-interview-pt--1
kotarah [16:31]: they were never in jeopardy it was part of the grand design vilify wall street
jolox [16:31]: Cramerica.....love it or grieve it !!
jolox [16:32]: That's right Kot......Wheel of Fortune and Jeopardy.
jolox [16:34]: CSCO calls ROCK.
kotarah [16:34]: thats it andrew
Andrew [17:05]: http://www.xconomy.com/san-francisco/2010/07/15/vivus-obesity-drug-shot-down-by-fda-panel-in-close-vote/
Andrew [18:00]: VVUS is trading again - trading in the low-to-mid 4.00s
Andrew [18:00]: You're in wonderful shape nester!
Andrew [18:02]: The initial high when it began trading was 5.10 but then dropped fast.
carr [18:07]: Does anyone on line know how to reach nester directly by telephone?
carr [18:58]: hey fwguyus
Hoecake [20:28]: ugn
Hoecake [20:33]: Wow wasnt here all day, WTF is with the run up in the last hour
picker304 [22:08]: Hey martin
28Martin07 [22:08]: hey man
picker304 [22:08]: How did you do? Paper account
28Martin07 [22:09]: i didn't do too bad...i'm in the hole 84 bucks is all
picker304 [22:09]: You got 84 bucks I can borrow? lol
28Martin07 [22:09]: next month...minus the 4
picker304 [22:09]: LOL Hey it was a crazy day in the markets
28Martin07 [22:10]: yes that's why i'm excited that i only lost 84 bucks
28Martin07 [22:10]: for the amount that i purchased i spent around 5000 bucks and only lost 84...that's pretty even
picker304 [22:12]: Cool but in the real market don't ever use 50% JMO
28Martin07 [22:12]: JMO?
picker304 [22:13]: Sorry just my opiion
28Martin07 [22:14]: oh
28Martin07 [22:14]: how did you do today?
carr [22:14]: Martin, what were you trading today?
picker304 [22:14]: 2 buicks and a volkswagon
picker304 [22:14]: Hey martin meet my best friend on here Carr
28Martin07 [22:15]: LXK SBIB ARNA and SOMX
picker304 [22:15]: Say hello martin LOL
28Martin07 [22:15]: hi carr very nice to meet you
carr [22:15]: Hey martin, SOMX was a relly good pick today
28Martin07 [22:16]: yeah almost a 6% gain
28Martin07 [22:16]: LXK was a good pick too
carr [22:17]: What about the other two, I have not looked at them yet
28Martin07 [22:17]: ARNA tanked near close...had i been able to monitor that i could've sold earlier and made a little
28Martin07 [22:18]: SBIB was just a wild hair...i picked it, it rises in mid day and then falls back near close. very unpredictable
28Martin07 [22:19]: what are your thoughts
carr [22:19]: Fair enough, so are you up overall on the day?
28Martin07 [22:20]: no i'm down $84
28Martin07 [22:21]: not bad for my first day though, considering i used the papertrade tool and purchased 100 shares each of the 4 companys totalling around $5000 and only lost $84...i'm happy
carr [22:21]: down 84 is not really bad for the first day.
picker304 [22:21]: Hey carr don't you wish all trilas would take control like that?
carr [22:22]: You bet picker
carr [22:23]: Live and learn Martin, you will do better tomorrow.
28Martin07 [22:23]: TTEC seems to be on the rise, good choice?
carr [22:24]: Let me check the chart
picker304 [22:25]: hey Martin I'm multi tasking I'll be back on in a few
28Martin07 [22:26]: ok i may not be
carr [22:27]: My opinion on TTEC, if you do a swing trade, I would wait until it pulls back a little to about $13.60, and then it should go up from there, but if it breaks $14 it should be a good solid buy.
28Martin07 [22:28]: hmm...
28Martin07 [22:29]: what exactly is a swing trade
carr [22:30]: Martin, a swind trade is a multi day hold after you buy.
carr [22:31]: sorry I meant swing
28Martin07 [22:31]: oh ok that makes sense then
carr [22:32]: Martin, if you are looking to day trade, then disregard anything I say.
28Martin07 [22:33]: lol i'm still trying to find my niche really
carr [22:34]: I am a swing trader, not a day trader. Andrew and Jim are very good day traders, so if you want to day trade, follow them, and not me.
28Martin07 [22:35]: so you look for the gap downs?
carr [22:36]: Yes, I do, but I look at multi day opportunities, not single day.,
28Martin07 [22:36]: right
28Martin07 [22:36]: so for example what is a company you are looking at now?
carr [22:37]: RIMM
28Martin07 [22:38]: you're hoping it hits the $75 mark again? it looks like a great opportunity to me
carr [22:39]: I am looking at RIMM for $75 plus calls for October and November.
28Martin07 [22:40]: i'm sorry but what does that mean ( calls for oct and nov)?
carr [22:41]: Call options on RIMM stock.
28Martin07 [22:41]: are you basing that assumption on the company doing well with holiday sales?
carr [22:42]: That and the the upcoming announcement of new products.
28Martin07 [22:42]: i see
28Martin07 [22:43]: well i appreciate your time and talking to me about this....i hope to figure it out sooner than later. and i will talk to you soon.
carr [22:44]: RIMM has a good pipeline, they have a great track record on secure products, and I really think they will create a great advantage over AAPL
picker304 [22:44]: Hey martin there are so many trade setups and possible combos. try to focus on one i will help you we'll make an appointment
28Martin07 [22:44]: ok pick
28Martin07 [22:45]: hey guys i gotta hop off for now, talk to you later
carr [22:52]: good night turbo911
turbo911 [22:53]: good night!
Hoecake [23:36]: Carr I will start following your leads, I am trying to get better at swing trading
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