Chat Highlights From 5/12/2011
Central Time Zone
14:42:00 MKing i reduced about 1/4th or 1/3rd of AGQ SHORTly after it turned down from 178.53. I am playing this as a long swing that may take 3-5 days.
14:23:24 MKing I’d pass on the PAY SHORT
14:23:17 MKing SHORTing PAY is going to be tougher than BUYing,
14:22:03 MKing with PAY I’m watching a 1 min
14:19:44 MKing clear SELL signal
14:19:36 MKing there is your top right there, that spike
14:18:42 MKing but looks like PAY going to climb for a while, real strong, momentum gaining
14:18:27 MKing $45.50 i mentioned earlier does not mean to SELL, keep it until indicators peak
14:12:24 MKing PAY might hit $45.50, might be too optimistic though
14:06:41 MKing should test that 43 again on PAY, keep positions really small
14:00:59 Brent don't get greedy with PAY if long
13:57:38 Brent PAY alert
13:57:30 Brent PANL still acting strong, would've liked to see more movement up. Volume has lightened up too. May have some resistance in the $48.15 area
13:42:29 Brent watching PANL for a SHORT, would like to see more upside first
13:31:00 MKing target for RIG long is around 67.40 area
13:25:11 MKing QCOR SHORT is over now, might give a 2nd helping later
13:24:16 MKing RIG shouldl give a tradable long entry soon; at least COVER the RIG SHORT soon
13:14:28 MKing can i give you guys a 5 star tip?
13:08:45 MKing hey you guys long AGQ, just so you know, I've had 15 minute chart up on it most all day, 5 minute at the lowest time itnerval. since i dont scalp this i just monitor it on a 15 minute chart. it keeps the emotions down and i dont get tempted to SELL long so early. all the indicators still steadily pointing up on those intervals
13:03:15 MKing if you SHORTed QCOR on this last spike, good place to COVER here. That’s 75 cents is over 3% profit
13:01:55 MKing if you want to profit on silver dropping you BUY ZSL long. its a SHORT etf. but i think that’s too dangerous sclapman, that particular idea. it is much harder to time the top of a commodity etf compared to these scalp trades we do in stocks every day
13:00:42 MKing that’s already too late but just something to remember
13:00:31 MKing now if anyone followed the QCOR SHORT the first time, and you see this second spike up, this recent one should have a bigger drop
12:57:24 MKing if you exceed that 3 trades per 5 day period, you will get restricted, warning on first time, 90 day cash restriction on 2nd offense, 6 months on 3rd offense
12:56:45 MKing now if you don't have $25,000 in your account, realize that BUYing and SELLing AGQ today will count as the 3 day trades you are allowed in a rolling 5 business day period
12:55:49 MKing yes Derns, I’m thinking this is a nice run and at the bottoms, they often retrace quite a bit. when you see a stock go from 153 to 177 like AGQ has today, people often want to take a profit
12:55:02 MKing hey sprinterdc, don’t beat yourself up that you didn’t do anything in the past. don’t even get rattled at all, just know there will be many other good ideas in the future and if you get worked up, you will likely make a mistake the next one, like usually too big of position
12:53:19 MKing hey guys, if this AGQ keeps moving up today, it wouldn’t be a bad idea to reduce that new long position. Could easily get into the mid 180's the way it’s going
12:50:35 MKing if anyone has DECK SHORT from the post i made 45 minutes ago, good place to COVER here
12:49:44 MKing thanks rockstar. this is a cheap tuition. It is really easy to lose money trading stocks if you don’t have a system or method
12:33:32 MKing arkadiy, you can’t expect to learn how to fly an airplane on your first week. Even new or different aircraft, existing pilots have to be checked out and signed off to fly a new type of plane
12:32:41 MKing pretty good idea lightning, QCOR decent SHORT, quick one
12:31:19 MKing look at RIG right now, see how it is turning over? Posted this 25 minutes ago as monitoring RIG for a SHORT. I would think RIG goes down to around 67.25 and you can make that 70 cents potential profit
12:30:11 MKing Arkadiy, just for starters, every time you see a stock symbol posted in TSA comments box, build a chart on that stock and observe it. And keep open a bunch of charts for all these symbols and try to get a feel for what the stock does after we talk about it. We are usually looking for a reversal so if it is a top then we look for a SHORT and if it is going down and we look for a long entry
12:25:17 MKing you can play AGQ several ways. it gets a little rocky ride at the bottom of these swing trades, especially after big drops. You can day trade it and take your profits which is no shame to you or you could swing trade it long at least overnight into tomorrow.
12:22:47 MKing don’t use real money arkadiy, learn the techniques, practice in virtual account for 90 days before you use real money
12:22:28 MKing did anyone BUY the AGQ long today in the 150's?
12:16:08 MKing you decide baz, there are five of us scanning for stock ideas, three are moderators throughout the day but the first 2 hours after regular market open is best then the last hour has a little action too.
12:05:07 MKing monitoring RIG for a SHORT on top of this bounce; also watching DECK. SP-500 bouncing to new highs
12:03:52 MKing great to hear baz; new high of day on AGQ
11:43:37 MKing the first two hours of the day is the best
11:43:19 MKing hi baz6308, its pretty slow now so not a lot going on, but we monitor if something looks interesting
11:23:10 MKing monitor BIG for SHORT
11:11:39 MKing posted earlier mike: 07:34:15,MKing: I am approaching AGQ the same way as first long trade, looking for around $200 as first target
11:10:47 MKing or are you talking about the 2nd helping long from today on AGQ?
11:10:31 MKing mike are you long AGQ and UCO from last week?
11:10:06 Brent well Mitch had a great call at 37.30
11:07:54 MKing consider closing BIG long 37.75 area
11:05:52 MKing in BIG
11:05:45 MKing advanced traders; consider smaller long around 37.30, ease into it gradually
11:03:46 MKing watching drop in BIG
11:03:40 Brent BIG alert
11:01:44 MKing INFA turning over, SHORTable
10:44:39 MKing looking for 88.25 area to COVER DECK
10:32:52 MKing missed DECK bottom but watch for SHORT here on top of this bounce, soon
10:01:20 MKing these kind of percentage moves down on low priced stocks are very dangerous. Widow makers
10:00:52 MKing i would be very careful with PNSN, danger danger.
09:47:57 MKing if anyone SHORTed RENN, consider COVERing very soon, now 13.20
09:46:19 MKing consider COVERing ROK SHORT trade
09:46:03 MKing the PANL SHORT trade not working
09:45:47 MKing I also assume anyone who bought MEE sold?
09:45:18 MKing AGU topping out, consider SELLing long
09:40:39 Kris out all ROST long
09:34:15 MKing i am approaching AGQ the same way as first long trade, looking for around $200 as first target
09:32:51 MKing i think that $153 is the bottom
09:32:25 Kris out another 1/4 ROST long
09:32:06 MKing anyone BUY AGQ long?
09:27:49 MKing RENN: Rumor: Renren moves up on speculation Microsoft has built a stake
09:24:39 Kris stop rest ROST long under 81.94
09:24:24 Kris out half ROST long
09:23:56 MKing the BUYout rumor with AKAM traded real well today but I’m more inclined to look for long positions with the idea that the market should attempt a substantial rebound later today
09:18:55 MKing ag-chemicals posted earlier: MON, MOS, AGU, POT
09:18:41 MKing the ag-chemical stocks that are rebounding, those probably won't pull back as easily and you might milk those more on the long side if you already went long earlier
09:18:12 MKing this rebound in the market should have a little SELLing into and some stocks will pullback for a quick SHORT scalp
09:17:34 MKing also looking at ROK for SHORT
09:17:28 MKing looking for quick SHORT in PANL
09:08:16 Kris ROST new highs
09:02:34 Kris COVER some DNDN SHORT here stop rest over 37.63
09:02:09 Kris out all HGSI SHORT
09:00:03 MKing consider SELLing MCP, try 61.45 area
08:57:43 Kris SOHU SHORT
08:52:26 Kris out all HLX
08:50:15 Kris look to COVER part of ATLS SHORT, stop rest over 22.26
08:48:31 Kris MTW SHORT
08:47:42 Brent watching STEC
08:47:16 Kris ROST long
08:46:45 MKing ag- chemicals moving up, POT
08:46:19 MKing looking for bottom in AGQ soon
08:46:01 MKing SOHU should bounce soon
08:45:54 MKing watching SOHU for bottom
08:45:47 Kris if you got ATLS SHORT look around 22.05 to take profit and move stop to breakeven on rest
08:45:30 MKing watching MEE
08:45:07 MKing watching FWLT
08:44:57 Kris stop rest HLX over 15.87
08:44:37 Kris look to take some profit here on HLX SHORT
08:44:37 MKing watching FTO for bottom
08:43:43 Kris ATLS SHORT
08:43:03 Kris same with SOA, look to COVER some here and move stop on rest to breakeven.
08:42:44 Kris look to COVER some HGSI SHORT here and move your stop on rest to BE
08:41:20 MKing looking for bounce in ag-chemical stocks MON, MOS, AGU
08:37:55 MKing watching MCP for bottom
08:36:59 Kris FSLR resistance around 129.00
08:36:49 Kris watching FSLR for a SHORT
08:36:03 Kris stop DNDN over 38.07
08:35:51 Kris DNDN SHORT half
08:35:14 Kris stop SOA over 23.86
08:34:43 MKing watching RAX
08:34:05 Kris SOA SHORT half position
08:32:36 Kris stop HLX over 16.25, first target 15.80 area
08:31:54 Kris HGSI SHORT
08:30:53 Kris HLX SHORT
08:30:41 Kris HLX SHORT below 15.95
08:24:04 MKing I'm trying to BUY a little AGQ around 161.50 area, easing back into this long
14:59:06 skydiver Thanks all. Had a great week and a great day today. Learning a lot from all of you pros.
14:43:52 baz6308 bravo a most excelent fist DAY! see you all in the AM Thanks!
14:43:05 rockstar Brent TY for PAYing me today. Went long twice and short twice for a total of $5. You rock!
14:27:14 baz6308 The must fun filled 2 hours I have had in a long time..lots of profit too bad Im paper trading
14:26:15 baz6308 The most fun I had in the market happened in the 2 hours I have been in the trading room very profitable
14:15:57 stevemld great calls today Kris
14:15:27 frank1 thank you guys -Mitch-Brent-Kris for the pearls-have a good day
13:21:44 Arkadiy First Success on Rig :)
13:21:24 mike got to go 7trades 6 green very nice profit on AGQ and UCO Thanks everyone
13:15:49 rth7325 out 2/3 AGQ, will hold 1/3 overnite...Money Godd Mitch Thanks!
13:12:51 rockstar Yea Aussie... You should be getting a feel for the stocks and MK, Brent ,and Kris, Once you get the feel for whose trading personality is close to yours then start by following their trades and what caused MK Brent or Kris to suggest the trade. Was it a continuation trade , a reversal, buying at support,selling at resistance, whatever. Then you will take the trade knowing why it was suggested and have very good success
12:50:22 rockstar MK Brent and Kris are excellent at what they do. Please invest the time to learn their techniques as I dont want you to run out of money before you can put their techniqes to good use
12:48:39 rockstar to the new traders.FWIW.. Please take to heart MKs suggestion that you virtual trade for 90 days and learn the way K,B,and MK set up the possible trades. I hate to see people getting blown out because they THOUGHT they were spending money for the trading room when in reality you are paying a tuition.
12:31:33 Guitarzan Mitch, in and out of AGQ a few times from 157 to 191...no position right now. Should have listened to you!
09:45:13 baz6308 always admired your style Mitch, glad to be here ,hope to stay for a long time
10:07:37 Guitarzan Wow! What a day :-) This really works, you guys! Thanks for these incredible tools, advice, and assistance.
11:18:18 Electrader sorry that was 37.24
11:17:58 Electrader Thanks for BIG, Brent. L 1/2 @ 33.24 out @ 33.74
10:36:45 diadora Gotta go hope to be back later. Thanks, Mitch for AGQ, my new money tree.
09:33:12 qwert AGQ long at 155
09:33:07 hammer yes, out at 162.11, entry 156 AGQ
09:32:54 Sarge L @ 156 AGQ, but I have an itchy finger..
09:32:42 rokh18 AGQ long 154.58
09:32:40 MikeT AGQlong AGQ 162 & 155
09:13:24 Staz In AGQ 157.35, stopped 161.03