(05:45 am) JoeyTSA :early gap down:
ISRG,UVXY
(05:46 am) JoeyTSA :early gap
up: LNKD,CTCT,FEYE,ASML..also watching
YY
(05:49 am) JoeyTSA :/ES 1846,1850,1853+
; /NQ 3540-3547+
(05:49 am) JoeyTSA
:levels /CL 102.55-102.85
(06:10 am) Mitch
King:Premarket UP: TWTR, AA, P, YOKU,
ARMH, ASML, FB, LNG, BK, CTCT, FEYE, VOD,
SPLK Premarket DOWN: ISRG, GOLD,
AHT, GM, HALO, ACI, USLV
(06:31 am)
Mitch King:ROVI moving up, watching for top
to short
(06:31 am) Mitch King:watching
CTCT for possible breakout
(06:31 am)
Mitch King:watching NXST for
uptrend
(06:31 am) JoeyTSA :putting FSLR
on radar
(06:31 am) Mitch King:watchign
ARUN for uptrend
(06:32 am) Mitch
King:watching YOKU for uptrend
(06:32 am)
Mitch King:PCLN moving up
(06:32 am) Mitch
King:watching WLK
(06:32 am) JoeyTSA :eye
on RTN
(06:33 am) Mitch King:PCRX trending
up
(06:34 am) Mitch King:monitoring
BYI
(06:34 am) Mitch King:monitoring
CNW
(06:34 am) JoeyTSA :FEYE for potential
breakout
(06:34 am) Mitch King:watching
SWFT for short, low priority
(06:35 am)
Mitch King:watchign CREE for
uptrend
(06:35 am) Mitch King:watching MSM
for uptrend
(06:35 am) Mitch King:watching
GOLD for bottom, need more selling
first
(06:36 am) Mitch King:monitoring
CTRP
(06:36 am) Mitch King:watching R for
more upside
(06:36 am) JoeyTSA :QCOR
strong so far
(06:37 am) Qwert :monitoring
AAL
(06:37 am) Mitch King:watchign CTCT
for uptrend to continue
(06:38 am) Mitch
King:CRZO uptrending
(06:38 am) Mitch
King:watch MNK for trades today both ways,
this is one that came down big couple days
ago and now almost back up to top of
range
(06:40 am) Mitch King:ROVI new
high
(06:40 am) Mitch King:expecting more
upside with GTN
(06:40 am) Mitch
King:watching DWRE for possible
short
(06:41 am) Mitch King:monitoring STZ
drop
(06:43 am) Mitch King:more upside for
ROVI
(06:44 am) Qwert :ARCP volume
spike
(06:44 am) Mitch King:MNK acting
toppy
(06:47 am) JoeyTSA :eye on
ACT
(06:49 am) Qwert :monitoring
CBS
(06:52 am) Mitch King:watching QIHU
for bounce
(06:54 am) Mitch King:ok
breaking above now
(06:54 am) Mitch
King:ROVI not breaking through 21.60, should
be strong if limit order pulled
away
(06:58 am) Mitch King:watching STZ
for bottom to buy, no hurry, prob more
downside first
(06:58 am) Qwert
:monitoring CZR
(07:06 am) Mitch
King:could be just a spike with no follow
through on GIMO
(07:06 am) Mitch King:GIMO
alert
(07:09 am) JoeyTSA :see if 3540
holds on /NQ
(07:12 am) Mitch
King:watchign QUNR, more downside first but
could bunce
(07:13 am) Mitch King:watching
ROVI for another move
(07:14 am) Qwert
:covered some CZR
(07:15 am) JoeyTSA
:watcing NXT $40 level
(07:18 am) Mitch
King:PCRX breaking out
(07:20 am) Mitch
King:CZR giving off trades
(07:26 am)
Mitch King:CNAT spike
(07:52 am) Mitch
King:new low on STZ
(07:57 am) Mitch
King:watching STZ closely for
bounce
(07:58 am) Mitch King:should see
$80 area for STZ, be flexible
(08:08 am)
Mitch King:should get another smaller bounce
in STZ if bounce occurs above that 77.75
area
(08:23 am) Qwert :ATHL
moving
(08:23 am) Mitch King:getting
resistance again at $80 level on
STZ
(08:25 am) Mitch King:monitoring NSR,
no hurry
(08:39 am) Mitch King:STZ moving
above $80
(08:42 am) Mitch King:limited
profit potential though, not great
idea
(08:42 am) Mitch King:watchign ETR
for bounce
(08:44 am) Mitch King:cancel
ETR idea,, no-go
(09:33 am) Mitch
King:lower low on ETR, new low
(09:38 am)
JoeyTSA :MNST vol spike
(10:42 am) Mitch
King:MNST new high
(11:01 am) JoeyTSA :top
of the hour spike
(11:17 am) Mitch
King:looking for more sellign in
MNST
(11:24 am) Mitch King:microshort in
MLM
(11:44 am) JoeyTSA :great run on
YY
(12:04 pm) Mitch King:the Monster runup
MNST was from analyst on CNBC
(12:16 pm)
JoeyTSA :watching ATHL
| (05:25 am) Qwert :good morning regatta,
scalpman, toby1115
(05:29 am) devo
:GM everyone
(05:29 am) regatta :gm
qwert, et al
(05:40 am) JoeyTSA :Good
morning Qwert, traders
(05:40 am) JoeyTSA
:wholesale inv @7, cudeinv @ 7:30, 10yr
auction 10pdt
(05:48 am) JoeyTSA :/ESand
/NQ already pushed thru my early levels, have
to reset them
(05:51 am) Qwert :good
morning joey
(05:51 am) JoeyTSA :keeping
an eye on FB, should push to $60
(05:53
am) freitag8 :Morning
everyone
(05:53 am) freitag8 :Todays
BUY PPS signal on a Daily chart
scan:
http://screencast.com/t/rBkDapP5abBi
(05:5
4 am) freitag8 :Stocks InPlay: STZ, GM,
HALO, GIMO, NFLX, AMZN, FEYE
(05:57 am)
skydiver :gm all and thnx joey, freite
on gappers and info
(05:59 am)
freitag8 :GM
(06:13 am) devo
:FB got a nice boose this morn
(06:13 am)
freitag8 :Unusual Volume with Fresh
News: ISRG, PCRX, CTCT, TM, AA, VZ
(06:14
am) doji :Good day, just connecting to
wish you a profitable day… too busy
at the office to trade…
(06:15 am) Qwert
:gm doji
(06:15 am) Mitch King:interesting
that Goldman considering closing their dark
pool operation, world’s largest. after
Flash Boys book came out last
monday
(06:15 am) freitag8 :Sorry to
hear that Doji… you need 2 Brazilian
Secretaries! Thanks for the well wishes…
Hope all is well with you
(06:15 am)
devo :u finish the book
Mithch?
(06:16 am) Mitch King:no, hard to
read during weekday, too busy
(06:16 am)
freitag8 :On the Radar: ALKS, DPS, NOW,
SWFT, TCK, BX
(06:16 am) devo :sorry
for name typo
(06:17 am) freitag8
:VJET climbing the radar list
(06:17 am)
devo :VIPS
(06:18 am) freitag8
:I’ll be watchiNG PBYI
(06:26 am)
skydiver :LNKD up a bit this morning —
will keep chart up
(06:27 am) JoeyTSA :for
swing traders, HAR might be one to put on the
radar
(06:28 am) freitag8 :u like
HAR for a bullish trade?
(06:28 am)
JoeyTSA :watching it for long
(06:29 am)
JoeyTSA :potential swing, not
daytrade
(06:29 am) freitag8
:Thanks… will do!
(06:29 am)
skydiver :ipo – LQ – La Quiinta opening
today
(06:29 am) JoeyTSA :hotel chain
right
(06:30 am) Qwert :yes joey
(06:30
am) skydiver :right joey
(06:31 am)
regatta :watching HSY
(06:34 am)
JoeyTSA :indice pullback
(06:34 am)
skydiver :covering 3/4 LNKD
(06:34
am) JoeyTSA :/ES trying to hold
1850
(06:35 am) regatta :watching
GTN
(06:35 am) freitag8 :PCRX) today
announced the pricing of its previously
announced public offering of 1,600,000 shares
of its common stock at a public offering
price of $64.00
(06:35 am) skydiver
:all out of LNKD short – barely caught that
short on it
(06:35 am) JoeyTSA :thx
freitag
(06:38 am) freitag8 :STZ)
reported better-than-expected fiscal
fourth-quarter earnings… ATR
$1.59
(06:39 am) JoeyTSA :NFLX holding
$346 so far, level on watch though for
potential next leg down
(06:43 am)
freitag8 :FSLR beginning to trade like
yesterday… trend, consolidate, break
support
(06:44 am) freitag8 :top of
Radar… ROC, STZ, PDCO, USO
(06:46 am)
JoeyTSA :PBYI had quck pop, call call
freitag
(06:46 am) JoeyTSA :good
call
(06:46 am) freitag8
::)
(06:46 am) skydiver :nice call
on CTCT Mitch – thanks
(06:50 am) Mitch
King:Got datafeed problem
(06:50 am)
skydiver :LQ open
(06:52 am)
freitag8 :FSLR… similar open to
yesterday… set a range with a dbl top and
dbl bottom and then broke out
(06:54 am)
skydiver :TSLA – monitoring this
drop
(06:55 am) freitag8 :Great
trades this morning on PBYI
(06:55 am)
freitag8 :gotta be quick tho… its a
mover
(06:55 am) skydiver :yes
Freitage – been great
(06:55 am)
skydiver :thanks again for
PBYI
(06:56 am) freitag8 :monitoring
FSLR consolidation
(06:56 am)
freitag8 :My Pleasure
(06:56 am)
freitag8 :Mitch brought it up the other
day… Thanks Mitch for PBYI
(06:57 am)
freitag8 :took off long PBYI
(06:59
am) freitag8 :IB has limited Short
shares available for ROVI
(07:00 am)
freitag8 :got a conference call in a
couple minutes… be out for a bit
(07:03
am) Mitch King:How did you find that out
about ROVI shares frei? shows 10 mil
shares avail to short
(07:05 am)
skydiver :he might be on a conference
call Mitch (freitage)
(07:06 am) JoeyTSA
:CTCT beengreat, watch $28 for next
level
(07:06 am) skydiver :agree
joey – been nice one CTCT
(07:06 am)
JoeyTSA :big vol spike though Mitch
(07:07
am) JoeyTSA :must have been some
news/rumor
(07:07 am) JoeyTSA :markets
feel a bit heavy, but can change any
time
*** austria -, Welcome to the
TradeStocksAmerica Live Trading
Room
(07:08 am) skydiver :ipo – KANG
– now open
(07:08 am) skydiver :it’s
a health care group – KANG
(07:08 am)
JoeyTSA :use $18 on GIMO as potential
breakout?
(07:10 am) Mitch King:yeah joey,
GIMO real active at the moment
(07:10 am)
JoeyTSA :bull flag formation
(07:10 am)
JoeyTSA :rather wait to see $18 levelbreakout
then pulback/hold
(07:11 am) JoeyTSA :its
a low-risk gunsling if thats your
style
(07:11 am) freitag8 :GIMO
could be the next morning play
(07:12 am)
rd :watching act for bounce
(07:12
am) freitag8 :FSLR trending down
nicely… moving Stop Loss down to
BreakEven
(07:13 am) JoeyTSA :nice short
on FSLR:)
(07:14 am) freitag8 :got
in @ $72.80
(07:15 am) bill1 :Hey
guys, Theres no way I can get a proper fill
trading ES 06-14, I put in a stop 3 points
below current price and it constantly gets
hit without the actual price never even
approaching my stop. My Plot symbol sits in
open space. Any ideas?
(07:15 am)
bill1 :Trades in /CL are bang
on.
(07:16 am) JoeyTSA :no clue bill,
sorry
(07:16 am) freitag8 :which
platform are u using Bill?
(07:16 am)
bill1 :Ninja/IB
(07:16 am)
freitag8 :just gor Zero Line cross on
FSLR… closing 1/2 short
(07:17 am)
freitag8 :OK… I’m using IB too… but
not Ninja… are you trading from the chart
on Ninja?
(07:17 am) bill1
:Yes
(07:18 am) freitag8 :Let me try
a trade on IB and see if I get hit out
too
(07:18 am) JoeyTSA :20min break, great
calls
(07:19 am) freitag8 :It must
be Ninja… no hit out on /ES 6-14 via
IB
(07:20 am) bill1 :Thanks Frei,
Pretty frustrating not being able to trade
ES/
(07:20 am) bill1 :Maybe I will
try trading directly in IB
(07:21 am)
freitag8 :i understand… can you do a
manual stop loss… hold the order as a
market under the entry and click to
fill?
(07:22 am) bill1 :I still get
filled a point or 2 off(Always in the wrong
direction) grr
(07:25 am)
skydiver :Bill – you may need to reboot
ninja?
(07:25 am) Mitch King:also email
[email protected] they are really
fast responders
(07:26 am) Mitch King:my
name is Joey, i look for spikes
(07:27 am)
Mitch King:Joey King is my nickname
(07:27
am) Qwert :haha
(07:27 am) skydiver
:lol Mitch 🙂 good one
(07:27
am) Mitch King:Joey Skydiver
(07:27 am)
skydiver :ipo – LQ slow mover up from
bottom
(07:27 am) skydiver
::)
(07:27 am) skydiver :haha Mitch
🙂
(07:27 am) freitag8 :too
funny
(07:28 am) Mitch King:skydiver can
say bible verses in three languages, all at
the same time
(07:28 am) skydiver
:how did you know Mitch 🙂
(07:28 am)
Mitch King:Ukrainian, English and
SPanish
(07:28 am) Qwert :lol
(07:28
am) bill1 :I’ve sent all the log files
to Ninja and they say theres nothing wrong.
Sheesh!When I buy or sell initially it always
gives me about a 1 or 2 point advantage but
takes it back when I sell. A bit confusing
when the numbers don’t line up.
AAAAhhhhh
(07:29 am) skydiver
:english and spanish – yes – but
Ukrainian?
(07:29 am) Mitch King:people
think you are talking Chinese skydiver, but i
tell them you are from North Korea
(07:29
am) skydiver :;)
(07:30 am)
skydiver :I am laughing so hard I can’t
see to trade!! 🙂
(07:30 am) Mitch
King:i had that problem once bill, forgot
what solution was but support helped me
through that, make sure you give them all
relevant info
(07:33 am) bill1
:Thanks Mitch I will try support
again.
(07:34 am) skydiver :thanks
again for you teaching some time ago on how
to handle ipo’s Mitch LQ – went
long at bottom approx and been moving up
since – so far
(07:34 am) Mitch King:good
job sky, did you hold for very
long?
(07:34 am) skydiver :still in
😉
(07:34 am) Mitch King:great, what time
did you go long? price
(07:35 am)
skydiver :7:02 – got price at
16.59
(07:36 am) skydiver :a llittle
late, but . .
(07:36 am) Mitch King:ok
this candle here, you don’t need to panic
sell, you can sell above ask and price will
come to you
(07:36 am) skydiver :ok
– will do
(07:36 am) Mitch King:you have
been in for 34 minutes sky? good
job. thats a miracle, you can
change
(07:37 am) skydiver :amazing
– isn’t it 🙂 surprised
myself
(07:37 am) Mitch King:now you just
have to convince your wife
(07:37 am)
skydiver :ha ha — that’s a whole
different challenge 🙂
(07:37 am) Mitch
King:lol
(07:37 am) Qwert :for
sure
(07:37 am) Mitch King:i’ll tell her
for you sky. then she will say “Who are
you?”
(07:37 am) skydiver
::)
(07:38 am) Mitch King:I’m Kim, Kim
Jong II
(07:38 am) Qwert
:hahahahaa
(07:38 am) skydiver
::)
(07:38 am) skydiver :wiping
tears from my eyes — whew — ok — back to
trading 🙂
(07:39 am) Mitch King:im full
of it today. serious sleep deprivation
does that
(07:39 am) skydiver :too
funny — but thanks for great laughs 🙂 – I
think I needed that 🙂
(07:41 am) Mitch
King:sky, if LQ breaks above 17.25, you
should get another 25 cents after
that
(07:42 am) skydiver :gotcha
Mitch — thnx
(07:42 am) Mitch King:now
usually these IPOs don’t hold up the same way
that a trending stock like PCRX
does
(07:42 am) skydiver :right —
I’m usually in and out pretty fast in
ipo’s
(07:43 am) Mitch King:my first
impression is to consider reducing some of
that long here
(07:43 am) skydiver
:covered 1/2
(07:43 am) skydiver :my
impression too – thanks for
confirmation
(07:43 am) Mitch King:you
want to trade it with mentality of protecting
what you made plus some risk too.
(07:43
am) Mitch King:you mean you sold
(07:43
am) Mitch King:you didnt cover
(07:43 am)
skydiver :sorry — yes – sold
(07:43
am) skydiver :still laughing a bit
🙂
(07:44 am) Mitch King:ok so when you
get indications to sell, you put up a limit
order to sell at ask or a few cents above,
esp when stock is moving around
(07:45 am)
skydiver :ok
(07:45 am)
skydiver :great lesson for me Mitch —
awesome – thanks 🙂
(07:46 am) Mitch
King:now if this were a normal stock that is
established, with high vol. you don’t have as
much risk that it falls apart compared to an
ipo
(07:47 am) Mitch King:when an ipo vol
dries up, like it has on LQ, it gets
more volatile, usually toward the
downside
(07:47 am) skydiver :gotcha
— understand —
(07:47 am) Mitch King:you
still have 1/2 long in LQ now?
(07:48 am)
skydiver :no -1/4 now
(07:48 am)
JoeyTSA :good ipo lesson
(07:49 am) Mitch
King:ok now see the chart beyind LQ,
PCRX? you get trend up, slightpullback
or consolidation, then a move
higher?
(07:49 am) skydiver
:right
(07:49 am) Mitch King:you can trust
something like PCRX much more than an
ipo.
(07:49 am) skydiver :gotcha –
makes a lot of sense
(07:50 am) Mitch
King:but you have come a long way Virginia
Slips to hold this long. must be like
electric shock treatment for you
(07:50
am) JoeyTSA :NXST gave great bounce, was
mistyped abov @ 7:15
(07:50 am)
skydiver :pretty close Mitch
🙂
(07:50 am) Qwert :lol
(07:50 am)
Mitch King:this is good rehab center
sky
(07:50 am) skydiver :I think so
Mitch – 🙂
(07:51 am) Mitch King:now don’t
have negative thoughts if LQ makes big move
higher, you just have to play the odds as it
is now
(07:51 am) skydiver :right —
In 5 minutes will need to head out to an
appointment – so will shut down then or
so
(07:52 am) Mitch King:well good job
sky
(07:52 am) skydiver :thanks
again Mitch — great mentor you are
🙂
(07:53 am) Mitch King:sure your welcome
Kim
(07:53 am) skydiver
::)
(07:53 am) Mitch King:hey sky, don’t
pass out bibles in North Korea
(07:54 am)
skydiver :yes, I hear those who do
don’t get out
(07:54 am) skydiver
:or end up worse
(07:56 am) skydiver
:ok – all out of LQ long – my time is up –
thanks again for great calls, etc. and thanks
again Mitch for great teaching 🙂
See you all maybe toward closing
(07:56
am) JoeyTSA :enjoy sky
(07:56 am)
skydiver :you too joey 🙂 I’m
gone
(07:56 am) Mitch King:oh one last tip
sky on ipos
(07:56 am) Qwert :cya
sky
(07:57 am) Mitch King:ipos only sell a
small percentage of their shares so the float
is really small, which means volatility is
very high. small orders can move an ipo
a lot more than normal stocks
(07:59 am)
Mitch King:right here with STZ is where i
would sell 1/3rd
(07:59 am) Mitch
King:when it cant get above previous candle
early in a bounce of a weak stock
(08:00
am) Mitch King:but its strong here now,
should go over 80
(08:00 am) Mitch
King:nice V pattern
(08:00 am) Mitch
King:then i reduce again here at ask or
above
(08:01 am) Mitch King:then you can
have a trailing stop in case it really
runs
(08:06 am) JoeyTSA :/ES testing
1847
(08:06 am) JoeyTSA :FB tagged that
$60 level +
(08:15 am) regatta
:watching HSY again
(08:24 am) Mitch
King:GOOD EYE qwert
(08:24 am) JoeyTSA
:STZ was good one
(08:24 am) JoeyTSA
:nice Qwert
(08:25 am) JoeyTSA :what a
breakout at $36, missed that one
(08:26
am) JoeyTSA :didnt have the chart up, but
that hold at $35 looked like a good early
entry
(08:27 am) Mitch King:sure
does
(08:27 am) Qwert :yeah same here,
agree joey
(08:27 am) JoeyTSA :nice higher
low
(08:28 am) JoeyTSA :patterns always
look amazing after the fact
haha
(08:28 am) Qwert :yeah
(08:38 am)
regatta :watching YRCW
(08:49 am)
JoeyTSA :Lightspeed Webinar today on Rifle
Charts..im not familiar with them and think
they are something you would have to
buy?
(08:50 am) JoeyTSA :actually i think
its a way to set up your charts i
Lightspeed..has to do with
stochastics
(08:51 am) JoeyTSA :but thats
just a guess
(08:51 am) JoeyTSA :think i
will skip it and watch it when it gets
uploaded
(09:18 am) JoeyTSA :BIDU
hod
(09:19 am) Mitch King:JOEY, HOW was
that webinar for Trade ideas auto trading, i
think it is with their odds maker
(09:20
am) JoeyTSA :i didnt watch it
actually
(09:21 am) Mitch King:I think
they have something interesting with
that
(09:22 am) JoeyTSA :i dont see it
uploaded yet either
(09:22 am) JoeyTSA
:usually they get put up quick, im not into
auto anything
(09:23 am) Mitch King:that
sure is a breakthrough for SKY to hold a
stock that long, I never seen that before
from him
(09:23 am) JoeyTSA :he is doing
very well
(09:24 am) Mitch King:i figured
he was on the bottle this morning to do
that
(09:24 am) Mitch King:i’ve been
telling him thats where the money is in
longer hold times than 30 seconds
(09:24
am) JoeyTSA :Mitch: that webinar is
uploaded
(09:25 am) Mitch King:which
one
(09:25 am) JoeyTSA :its under the
Lightspeed Trader sction of recorded
webinars
(09:25 am) JoeyTSA :the auto
trading TI one
(09:25 am) Mitch King:the
autotrading?
(09:25 am) Mitch
King:ok
(09:25 am) Mitch King:Lightspeed
sure was in the news this week, bad
press. got a big fine from
SEC
(09:26 am) JoeyTSA :i was looking in
the wrong section
(09:26 am) Mitch King:i
want to say something like 1.7 mil, not sure
amt
(09:27 am) JoeyTSA :crazy
(09:28
am) JoeyTSA :busy few days coming up for
me…
(09:28 am) Mitch
King:horses?
(09:28 am) JoeyTSA :only
trading 1st hour and maybe last hour
tomorrow..
(09:28 am) JoeyTSA :might be
late on friday.going to show tomorrow
night…then only here 1st hour/last hour on
monday
(09:29 am) JoeyTSA :dentist
tomorrow morning, another appt on
monday
(09:29 am) JoeyTSA :not dentist on
monday thankfully haha
(09:30 am)
Mitch King:it has to do with the HFT guys
layering or spoofing a bunch of orders
showing prices and then pulling them away
when traders put their orders
(09:31 am)
Mitch King:i read that 95-96% of orders are
pulled and cancelled from HFT firms.
that practice tricks people thinking there is
actually volume or itnerest int eh
stock
(09:34 am) JoeyTSA :what a mess that
is
(09:36 am) Mitch King:tecd
(09:36
am) Mitch King:sorry
(10:06 am) JoeyTSA
:lunchtime, back in 45
(10:16 am) Mitch
King:yeah joey, the Lightspeed fine was for
knowingly aiding and abetting the
spoofing and layering of orders that
are cancelled when orders come in. its
sort of a trap and thats what Flash Boys book
is describing. really disturbing to see
this. i knew this was going on with my
orders. i would not be surprised they
can see character recognition when people
type in. that service is available to
view what people are typing when they are on
your website and you get their IP address as
well. its really creepy.
(10:18 am)
Mitch King:thats why with some websites, they
email you with a marketing message that says
something like “We see you were interested in
this XYZ product….” even though I didnt
complete an order. and they autoemail
that within 2 hours.
(10:21 am) Mitch
King:Since most people do not complete their
online orders, they don’t complete them,
probably about 70% of orders are not
completed or sent, the savvy online websties
will email you. I think they have
gotten away from that practice though.
but the HFT guys, i suspect are using same
technology to see keystrokes as you type and
when the hedge fund or us individual traders
send the order, they actually front run the
order or if it is a big order a mutual fund
manager is sending like 100,000 shares, that
spoof order listed in the level 2 and 3 are
pulled away and the HFT back their prices
away from that to get the manager to buy at
higher price. or more commonly, the HFT
guys will see your order sent and within
microseconds buy that same stock at lower
price and sell to you to fill your buy
order.
(10:21 am) Mitch King:thats what
this whole stink is about
(10:21 am) Mitch
King:most of that behavior has just got to be
bad for the markets in every
respect
(10:22 am) Mitch King:we aren’t
talking about the traditional way of making a
market or specialists on the NYSE
floor.
(10:24 am) Mitch King:this is a
whole new level that has been evolving with
ulta low latency datafeeds and extremely high
transmission rates with super
computers. so the guys like Citadel and
there is another big firm, these guys have
literally been making billions with a B
scalping all our orders with this front
running.
(10:25 am) Mitch King:and they
have 100% win rate, they take no risk at
all. they are guaranteed to make a tiny
bit off you.
(10:29 am) Mitch King:you
see, between all the dark pools, ecns and
exchanges, maybe 15-20 of them, the HFT
computers will check for better prices and
reserve those shares and then fill all or
part of your order. because the HFT
computers are faster, they see a different
set of prices just micro seconds [millionths
of a second] or milli seconds [thousands of
seconds] before you. I read an article
that the HFT guys have been bragging about
getting to 10-12 micro seconds.
(10:32 am)
Mitch King:so the theory is the same as
Einstein described it that at the speed of
light, you see things
differently
(10:32 am) Mitch King:sort
of
(10:33 am) Mitch King:i would love it
if the markets can return back to trusting
what you see listed on a book or leve 2 or
3. I doubt that is going to happen
though but it would give us better fills and
pricing, let alone the trust
factor.
(10:34 am) Mitch King:here is the
article on SEC fines with two firms, one was
Lightspeed:
http://www.thinkadvisor.com/2014/04/04/sec-fi
nes-traders-3m-for-spoofing-layering
(10:3
5 am) Mitch King:was last weekend i think i
read it
(10:37 am) doji :The Wolf
Hunters of Wall Street – This is summary of
Lewis Flash Boys Book:
http://www.nytimes.com/2014/04/06/magazine/fl
ash-boys-michael-lewis.html?_r=2
(10:38
am) Mitch King:ok thx doji.
(10:42 am)
Mitch King:im surprised MNST hasnt been bot
out by someone like pepsi or coke
(10:58
am) JoeyTSA :MNST on good run
(11:00 am)
JoeyTSA :thats crazy stuff Mitch, just
catching up on what you wrote
(11:00 am)
doji :FED minutes released?
(11:00
am) regatta :SPY going nuts
(11:01
am) JoeyTSA :yeah fomc minute
(11:01 am)
Qwert :fed removing unemployment
threshold
(11:02 am) doji :Market
Watch:
http://www.nytimes.com/2014/04/06/magazine/fl
ash-boys-michael-lewis.html?_r=2
(11:02
am) devo :that was quite the move in
/ES
(11:02 am) Mitch King:so far the new
chairperson Yellen is all over the place,
looking like she is really unqualified so
far, credibility in question
(11:03 am)
JoeyTSA :par for the dc course 🙂
(11:03
am) doji :WASHINGTON (MarketWatch) —
Federal Reserve officials had a secret video
conference call in early March to discuss
overhauling its communication to the market
and reached a general consensus that the 6.5%
unemployment rate threshold for the first
rate hike was outdated, the central bank said
Wednesday
(11:04 am) Mitch King:thx
doj
(11:23 am) JoeyTSA :Paul Stanley
coming up on cnbc..who would have thought
40yrs ago that he would still be
relevant haha
(11:36 am) JoeyTSA
:BIDU another hod, up $3 since post around
9:15
(11:36 am) JoeyTSA :actually about
$4move
(11:45 am) JoeyTSA :had YY on the
premarket list wi the gap ups, forgot all
about it..$5 move missed
(11:45 am)
freitag8 :eye on CSOD
(11:45 am)
JoeyTSA :even late at the $71 breakout,
missed $2 move arrrgggg
(12:31
pm) devo :wrapping it up. thx for
the great calls today
(12:35 pm) JoeyTSA
:bye devo
(12:35 pm) JoeyTSA :Thanks
Mitch,Qwert,traders…have a great afternoon,
see you tomorrow
(12:35 pm) freitag8
:Bye every1
(12:59 pm) Qwert :Good night
everyone cya all in the am, awesome trades
today
(01:19 pm) bill1 :Gotta Run
guys, Thanks for your help today.
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