Chat Highlights From 5/18/2011
Pacific Time Zone
13:38:04 Kris We should have our upgrade ready soon.
13:37:40 Kris We are replacing the stock box. We used to post in there but the interface was way too slow and cumbersome for us to get ideas out fast enough to trade. For now just slide up the box to show more of the TSA comments.
13:34:26 Kris After you sign in, you will see the link on the left side menu that says "TradeRoom Archives"
13:33:45 Kris I recommend you go in there and review all the trades you can
13:33:09 Kris One of the most valuable parts of the trading room is the archive.
13:32:32 Kris I've experienced the user chat has a short delay but I don't have any delay with the TSA comments I post.
13:28:58 Kris You can also go with a prop firm but they usually want a percentage of your gains
13:27:43 Kris The ones that I've heard are bad are etrade, schwab, fidelity, ameritrade
13:27:13 Kris It cycles Mordacai. I've had good success with all 3, Lightspeed, IB and TS.
13:26:08 Kris It also helps to have a broker that has a good short inventory, as many are finding out
13:25:11 Kris lightspeed, IB, and Tradestation are all low priced and have good execution
13:24:28 Kris that's why it's important to have a very low commission rate
13:24:06 Kris I like to break up my exits into 3 to 4 orders
13:23:45 Kris when you exit a short position, you are covering which means you're buying back the shares you borrowed and sold without owning.
13:22:48 Kris Some of the users who have been in the room a while already have their strategy and know how to manage the trade without any guidance
13:22:09 Kris I will call the entry if I can. Sometimes I'm busy with other trades and I'll miss it.
13:20:12 Kris We try to give a heads up so that it gives you time to get the chart up and your order ready.
13:16:31 Kris Lightspeed has limited integration with Esignal
13:16:03 Kris Currently Ninja doesn't integrate with Lightspeed. Lightspeed would be your trading platform but their charting is lacking.
13:11:11 MKing Ninja-Interactive pricing is close to that as well. basically, anyone here trading these ideas and still using the large major brokerages are probably paying 200-300 per day extra commissions plus the spread and poor execution.
13:09:04 MKing with Lightspeed should be $3-4 one way, averages $6 round trip
13:08:25 MKing Guitar, its a free download. http://www.ninjatrader.com/download-registration
13:07:18 MKing Your commission structure will be much much lower with Ninja-Interactive than Fidelity Active Trader Pro or any one of the large brokers are way too high, slow execution, wrong tools, bad prices
13:06:28 Kris Ninja is worth the investment
13:06:14 Kris it's free for demo trading and charting but you'll need a real time data service.
13:05:56 MKing nice jjammerp, nice to hear
13:05:43 Kris You have to pay for Ninja for live platform integration functionality
13:05:25 MKing Active Trader is awful, one of the worst
13:05:11 MKing can you get Ninja Trader Guitarzan? free download, link it to Interactive Brokers
13:04:31 MKing later guys
13:01:18 Kris If any of you have any questions or need any help, feel free to email me at firstname.lastname@example.org
13:01:01 Kris goodnight everyone. great job today. See you all in the morning.
12:56:42 Kris I'm out all MAKO long
12:33:06 MKing GPRO, Gen-Probe moves up following a WSJ story that it may be acquired Shares of Gen-Probe are moving higher following a WSJ story that says Thermo Fisher (TMO), Novartis (NVS), and Life Technologies (LIFE) are interested in Gen-Probe. Note that on April 28 the company said it was pursuing strategic alternatives
12:32:16 MKing late to post but ARBA target 32.60 area, right here
11:42:50 Kris SODA is getting close. If I trade it I'll have a tight stop on it.
11:34:22 MKing soon
11:34:20 MKing should be a 2nd helping short on ARBA son
11:32:23 Kris Have fun on your trip lightning.
11:30:52 MKing consider covering ARBA 33.02 area
11:11:42 MKing watching ARBA, turning over
11:04:35 Kris watching SODA for a short
10:34:59 Kris don't get greed if you were able to get it short. If you get +.15 to +.20 on it, look to cover some and move your stop on the rest.
10:34:37 Kris RMBS needs to break .22
10:28:53 Kris ok, watch RMBS for a short here
10:23:50 Kris RMBS ALERT
10:15:41 Kris lol
10:14:06 Kris he only had 1 share
10:13:58 Kris thanks candelas. too bad brent stopped out at 49.99
10:12:58 Kris queue the duck
10:11:53 Kris if it can clear 51.15 look for 51.85 area as next target
10:11:34 Kris running into resistance here on AFL, this is a good spot to take profit and move up your stop
10:06:21 MKing VRX possible short
09:56:16 Kris have a great day baz6308. See you tomorrow.
09:49:42 Kris lasik rocks
09:39:07 Kris I'm still long half maxbor
09:33:46 Kris looks like it's trying to put in the bottom today, watch for it to clear 15.40 Mordecai
09:32:47 Kris watch SOHU over 85.00
09:30:39 Kris watch for AFL support around 50.00. I might take it as a slow mover off a double bottom.
09:28:40 MKing possible short on NOV
09:24:53 MKing but target gave a decent short around 10:52am eastern time, then a long around 1114am at $49.55, then a short for another 50 cents.
09:23:23 MKing or maybe a trending position in AFL on the short side today.
09:22:52 MKing I'll show you the type of trades i like for this time of day is TGT, Target
09:16:12 MKing no, i wouldn’t like that gecko. I was an advisor for years from early 80's and it is not fun. the compliance, regulation and audits take all the fun out of advising.
09:14:36 Brent lol, I'll leave a couple
09:14:24 MKing catch a bunch of fish Brent, leave some for the Indians!
09:14:12 MKing for an athlete, that’s like working out and doing specific training exercises
09:13:28 Brent alright guys, I'm heading out. Will be back next Wednesday, have a great week. Don't do anything Mitch or Kris wouldn't do
09:13:20 MKing also, try to make a point to learn something new or review something you have been wanting to for a while. I call them study projects. Like on Eastern weekend, that 3 day weekend, i sat and studied about 165 trades, the full round trip trade. Took about 25-30 hours. I put them all on a spreadsheet, studied average profit per trade vs. average loss. I learned a lot
09:09:19 MKing no candles, you are in your prime, by 50 you will be slowing down, a lot
09:08:44 MKing But if you have a really active day with a lot of trade ideas, like today I saw a lot of ideas, and your schedule that day is to trade full time, then go for it and be very active on high quality ideas.
09:08:41 MKing another result that tends to occur is when you do a bunch of hyperactive trading, you tend to get only get part of the potential profit because you are thinking "fast, fast, fast, hurry, hurry, hurry" and you get really sloppy. So my thought life is fewer trades [or whatever I can personally handle and be precise], more percentage profit per trade, and be steady.
09:03:54 MKing but if you are a newer but proficient trader, maybe in your late 30's [in your prime], you can do a bunch of hyper trading but you still lose focus and consistency, especially when Thursday and Friday rolls around. I can do 30-40 trades a day for about 2 days max per week and then I'm useless. The challenge of an older guy is to be too complacent and not be decisive when the time comes to make a move. So you have to be aware of that too.
08:58:19 MKing ok scalpman, turned out what I was thinking on FFIV. I like to pace myself this time of day and wait for good stuff. as you get older and have traded quite a long time, its a lot easier to wait for something good. It results in lower transaction costs [commissions], less frustration, more profit, and a more clear mind.
08:29:37 MKing id rather wait for something better scalpman
08:11:50 MKing no moses, you make decision. set up chart to show indicators. you want me to trade for you or something? lol
08:10:03 MKing you get that AFL moses12?
08:00:17 MKing good eye pow
07:59:55 MKing JAZZ pharmaceutical. just an ok idea, pharmas are strong today although VRX finally breaking down
07:59:08 MKing where did you buy AFL moses, 51.20 area? all indicators have been pointing down for at least 26 minutes. no buy signals yet
07:51:33 MKing what price did you buy AGQ ?
07:51:17 MKing AGQ could easily go to 200 fmattos
07:50:43 MKing watching AFL for bottom, this is Aflac, the duck commercial
07:49:23 MKing monitoring YHOO for short on top of this bounce
07:48:10 MKing pow, the DJ-30 or DOW Chemical?
07:46:22 MKing nice junior
07:44:44 MKing consider closing NOA if you bought it
07:41:06 Brent nice rockstar
07:35:27 MKing VRX turning over,
07:33:23 MKing watching IR, Ingersoll for short
07:32:19 Brent good work Jsn
07:32:04 MKing indexes spiking up
07:31:23 Brent tighten stop on CHS to protect profits
07:28:58 Brent needs to clear $14 area on CHS, can reduce there, or next target is $14.12 area
07:25:49 MKing VRX should top soon, probably here 49.75 area
07:25:16 MKing looking for short in NFX after rebound to 71.85 area
07:24:47 MKing consider closing PCS short, too slow
07:24:25 Brent watching CHS for a long Jsn
07:23:03 MKing chs
07:22:51 Brent watching CHS
07:22:39 MKing VRX top soon
07:22:00 MKing watching for top in VECO to short
07:19:42 MKing watch for short on top of this VRX bounce
07:19:17 MKing looking for SOHU to go low 83's
07:18:28 Kris look to take some profit in EXPE if you got it short the second time around
07:17:24 MKing WY toppy here, shortable
07:15:39 MKing consider selling VRX 49.44 area here
07:15:16 MKing monitoring TGT, Target for a bottom to go long
07:14:40 Kris MAKO long
07:14:12 MKing consider reducing VRX long, Valeant Pharma
07:12:58 MKing SOHU toppy
07:12:27 Kris that should be your first target
07:12:24 MKing looks like NOA has the plague, everyone staying away from it
07:12:18 Kris look for support around 26.40 vipinaro
07:10:51 Kris will go long over 28.10
07:10:39 Kris hold on MAKO
07:10:26 Kris MAKO long
07:10:16 MKing cover SYMC here 19.77 area
07:09:52 MKing watching ADI for short
07:08:09 MKing watching SOHU for short
07:07:44 MKing watching NOA for bottom, higher risk
07:07:36 Kris watching for a new high in SLW
07:06:49 Kris stop rest YOKU under 48.46
07:06:49 MKing MEE and ANR stuck here, consider covering short
07:06:35 MKing monitoring VRX for bottom
07:06:30 Kris out half YOKU long
07:05:58 MKing monitoring VRTX for a bottom
07:05:17 Kris stop last TZOO under 68.87
07:05:17 MKing monitoring SYMC, SYmantic for short; buyout rumor, advanced traders only
07:05:03 Kris out another 1/4 TZOO long
07:04:37 MKing FCX turning over, late to see, better price at 48.75 area
07:04:27 Kris long SINA half position
07:03:40 Kris stopped EXPE, will watch for re-entry
07:03:37 MKing TCK turning over
07:02:54 MKing watching PCS for a top soon
07:02:35 Kris out half TZOO long
07:02:13 MKing the ANR and MEE charts should look like APC, eventually
07:01:48 MKing watching for bottom in FE, First Energy
07:00:52 Kris stop EXPE over 26.73
07:00:05 Kris EXPE short
06:59:48 MKing monitoring DKS, DIcks SPort
06:59:07 MKing watching for top in APA
06:58:46 MKing NBR toppy
06:57:07 MKing watching BEXP for short, toppy here 28.85
06:57:04 Kris stop TGT below 49.93
06:56:45 Kris TGT long
06:54:48 Kris I pass on CVI short
06:54:44 MKing monitoring VRX for bottom
06:53:46 MKing consider covering FFIV here 104.55 area
06:53:28 MKing consider covering APC 72.50 area
06:52:40 Kris watching EXPE for a short
06:51:59 Kris watching TGT for a long
06:51:31 Kris stop last RIMM under 45.25
06:50:39 Kris stop SWKS under 27.44
06:50:11 Kris SWKS long
06:49:18 MKing watching NE for short
06:49:17 Kris stop SLW below 34.83
06:47:56 Kris SLW long
06:47:44 MKing watching ANR for short
06:47:05 MKing watching for short in MEE
06:46:51 Kris watching BRFS for a long
06:45:53 MKing watching APC for a top for short
06:44:20 MKing WNR top here for short, 15.30 area
06:44:07 Kris looking for a new high in RIMM soon or I'm out
06:43:12 MKing FFIV top soon for short
06:42:51 Kris watching CVI for a short
06:42:00 Kris TZOO long
06:40:12 Kris stop YOKU under 47.87
06:39:45 Kris YOKU long
06:38:46 Kris watching CREE for a short
06:35:24 Kris SOHU half position
06:35:19 Kris SOHU LONG
06:32:22 Kris ANF long
06:32:11 Kris stop rest RIMM under 44.64
06:31:47 Kris out half RIMM long
06:30:18 Kris RIMM LONG
06:27:17 MKing hi guys
06:23:55 Brent good morning everyone
13:31:51 Mordecai I know this might sound silly but is there a little time delay when sending messages on here or do most members find the timing perfect. I’m in Montreal and was curious if there may be a delay due to the distance and different country etc
13:16:54 Guitarzan i appreciate your training DVDs Mitch. Know that your prayers are being heard. God is blessing us. Your bad back is on my prayer list.... mine was 100 healed from a car crash after 11 years of daily pain.
13:06:41 Bill THANKS TSA SEE YA tomorrow
13:04:46 mojo Thank you Kris for inviting questions.
13:04:37 Guitarzan Mitch, I’m pretty frustrated with Active Trader. It might be worthwhile for me to switch to Think or Swim (active seems to have no histogram setting on MACD) And suggestions for Canadian friends?
13:03:45 Guitarzan Thanks Kris. Gnite
13:01:49 observer Good night, Kris, MK, traders
13:01:44 swede Thanks everyone. Mitch, Kris. Fun day. See you tomorrow.
13:01:10 stevemld good day guys thanks for all the help
13:00:28 candelas have a great night Mk,Kris and traders
12:56:01 jjammerp MK, thanks for the trading with the pro CDs. I finally got your chart settings, its been helping. Made money 4 days in a row. It s been helping with the selling/sell signals. Breaking bad habits slowly but surely.
12:54:49 mojo Thank you for the great day in the Trading Room.
12:40:40 gecko thanks everyone for your help
12:40:34 gecko another positive day
12:38:32 candelas I had 3 trades up until GPRO It was worth the patience.
12:36:41 candelas man that was nice got GPRO long and short
12:16:14 swede candelas, good call on GPRO. Wow
11:39:50 dan is SODA ready yet Kris?
11:40:20 Lorie done for the day, enjoy your evening
11:31:31 Lightning OK, that is it for me for the week. Off on a golf trip. Good thing. I stunk it up today! Have a great week! See you Monday.
10:37:54 swede AFL S 50.65 Cover 50.48 plus 17 cents
10:12:34 candelas nice call on AFLKris
10:08:21 ron Kris targets/resist on AFL?
09:53:48 baz6308 thanks to MK, Kris, and Brent see you in am got to pick up sons cap/gown High school grad.
09:47:59 baz6308 Say Kris can I borrow the glasses you were wearing when you called 50 as support on AFL?
09:38:00 maxbor Kris - MAKO L ?
09:32:34 Mordecai I follow the daily stock report, any thoughts on STEC. I bought when it was posted a few days back.
09:23:44 Lightning what do you like about TGT?
09:14:29 Lara Have a great vacation, Brent!
09:14:25 rockstar Have a greeat vacation Brent. Thank you for all you bring to TSA..
09:13:56 krock thanks Brent have a great week!
09:10:57 ScalpMan Actually, I have to go at 11:00ish CST. Thanks all for a good day. See you at the last hour.
09:08:38 candelas so I am like almost old being 40
09:01:44 ScalpMan Hey...I’m already old! (ha)...just a greenhorn trader!
09:00:06 ScalpMan All out FFIV....
08:59:34 Derns Mitch...I am on board with that advice...as you get older...!
08:59:00 ScalpMan Understood...Mitch...you make a good point...
08:58:02 ScalpMan As Kris says, DIE... FFIV
08:54:17 ScalpMan next target 106.90
08:53:53 ScalpMan Not a lot of money...but a good practice...
07:52:16 ScalpMan Mitch...I played FFIV S for 40c out 1/2...with 10c loss
07:30:57 ScalpMan You were right on FFIV..Mitch!
07:29:11 ScalpMan Thanks Mitch!
07:26:05 ScalpMan Mitch...FFIV S?
07:24:39 rusty CSCO new 52w lows
07:17:30 baz6308 second helping TGT 49.54 to 49.75 gracias
07:13:29 moses12 I am trader
07:13:13 moses12 no could not find support did not find an out. u told me not to trade when u did not know your out I am not a gambler
07:11:09 baz6308 I did 50.82 to 51.2 thank YOU! AFL
07:09:40 Lightning short LYV 10.58
07:09:02 Lightning watching LYV for a short opportunity
06:57:09 DELHI Mitch, is JAZZ shORTable top?
06:56:12 moses12 mk next support on AFL?
06:52:07 fmattos No, I didn’t get it as I was waiting for it to go below 150... I think is too risky to go long now
06:50:23 fmattos Mitch, with the big run on AQG today, do you have any advice on it? Much appreciated
06:50:10 Sarge Small profit on NOA, (.12) .27
06:47:14 pow I am looking for a 200 pt on the DOW today
06:45:55 junior Mitch, thanks for TGT, 50.10 out 50.41
06:42:59 Guitarzan I made a little on NOA, had to wait for it though
06:33:52 rockstar TY Brent for CHS got .20... U beat Kris by 12 seconds
06:31:16 Jsn13 long CHS at 13.9 out 14.03...thanks Brent...
06:12:38 vipinaro thx
06:11:47 vipinaro what is the target
06:11:37 vipinaro I am in EXPE
06:01:28 randall shorted BEXP 28.83 out 28.67