[06:18 am] Brent : Brent : good morning
[06:19 am] Kris : Kris : Good Morning
Traders
[06:19 am] Kris : Kris : Today I’m watching
BBVA, NU, VSH, DANG, AFL, AMTD, CYH, DNR and
FISV as possible short trades.
[06:20 am] Kris : Kris : GG, ORLY, ULTA,
CAVM, GA and ALV as possible long trades.
[06:26 am] Kris : Kris : It’s not my screen
norsky. It’s Mitch’s.
[06:28 am] Kris : Kris : 2 minutes. Time to
Rock! Let’s Make Some Money!
[06:30 am] Kris : Kris : TITN short half
[06:31 am] Kris : Kris : if you can get it
[06:31 am] Kris : Kris : stay small TITN,
she’s a little thin
[06:31 am] Kris : Kris : UNP short half
[06:31 am] Kris : Kris : VRSN short
[06:32 am] Kris : Kris : ANR short half
[06:33 am] Mitch K: Mitch King: watching for
bounce in CFX
[06:34 am] Kris : Kris : LRCX long half
[06:35 am] Kris : Kris : RIMM long half
[06:35 am] Mitch K: Mitch King: CFX,
[06:38 am] Kris : Kris : out half RIMM
long
[06:38 am] Kris : Kris : watching SVM for a
long
[06:38 am] Mitch K: Mitch King: CFX looking
like no bounce, dead on arrival
[06:39 am] Kris : Kris : MOS long half
[06:40 am] Kris : Kris : SINA long half
[06:41 am] Mitch K: Mitch King: watching for
top in ITMN for short
[06:43 am] Mitch K: Mitch King: watching for
short in CBSH, letting it run more
[06:44 am] Brent : Brent : watching QCOR for
a bounce
[06:45 am] Kris : Kris : NEM short half
[06:45 am] Kris : Kris : out half SINA
long
[06:45 am] Mitch K: Mitch King: watching DHR
for potential short
[06:46 am] Kris : Kris : LULU long half
[06:46 am] Kris : Kris : out another 1/4 RIMM
long
[06:47 am] Kris : Kris : GMCR long half
[06:48 am] Mitch K: Mitch King: looking for
quick short in HOT,
[06:50 am] Kris : Kris : JAZZ long half
[06:51 am] Kris : Kris : CLF long half
[06:51 am] Kris : Kris : out half GMCR
long
[06:51 am] Mitch K: Mitch King: watching LVS
for potential top
[06:52 am] Kris : Kris : out half JAZZ
long
[06:52 am] Kris : Kris : SPY breaking new
hod, still strong
[06:53 am] Brent : Brent : consider reducing
QCOR
[06:53 am] Brent : Brent : next target 26.80
on QCOR
[06:53 am] Kris : Kris : MON long half
[06:53 am] Kris : Kris : out half LULU
long
[06:54 am] Kris : Kris : URBN long half
[06:55 am] Kris : Kris : out half CLF long
[06:56 am] Kris : Kris : out another 1/4 JAZZ
long
[06:56 am] Kris : Kris : out another 1/4 LULU
long
[06:56 am] Kris : Kris : watching TZA for a
long soon
[06:57 am] Mitch K: Mitch King: watching FNSR
for short
[06:58 am] Kris : Kris : ok, starting to get
serious about TZA long, SPY running on
increasing volume and accelerating price
[07:00 am] Kris : Kris : out another 1/4 CLF
long
[07:00 am] Kris : Kris : out half URBN
long
[07:00 am] Mitch K: Mitch King: getting a top
in CMA
[07:01 am] Mitch K: Mitch King: getting some
tops
[07:02 am] Kris : Kris : TZA long half
position
[07:02 am] Mitch K: Mitch King: top in
LULU
[07:05 am] Kris : Kris : out another 1/4 SINA
long
[07:05 am] Kris : Kris : PWRD short half
[07:05 am] Mitch K: Mitch King: Greece says
they have enough cash to operate until next
month. that sounds so funny for a
[07:07 am] Kris : Kris : watching ARMH for a
short
[07:09 am] Kris : Kris : SPY coming into
resistance area
[07:09 am] Mitch K: Mitch King: looking for
short in CCL, Carnival Cruise
[07:12 am] Mitch K: Mitch King: watching for
top in MGM
[07:13 am] Kris : Kris : see if SPY can break
trendline support
[07:13 am] Mitch K: Mitch King: consider
covering ITMN
[07:14 am] Kris : Kris : out half PWRD
short
[07:14 am] Mitch K: Mitch King: DHR turning
over
[07:17 am] Kris : Kris : BDX short
[07:17 am] Mitch K: Mitch King: most of those
tops earlier, almost all are turning over
now,
[07:18 am] Kris : Kris : ESRX long half
[07:19 am] Kris : Kris : RY short half
[07:20 am] Kris : Kris : see what kind of
bounce we get in the SPY here
[07:23 am] Kris : Kris : what’s your entry
topdog?
[07:24 am] Kris : Kris : coming into support
here, I would reduce a little and move your
stop, see if it can lose 21.00 and could test
20.50
[07:24 am] Mitch K: Mitch King: what you try
to do with these stocks is look at any
“companion stocks” like LVS has other casino
stocks like WYNN or MGM that was posted
[07:25 am] Mitch K: Mitch King: LVS looks
like god place to cover, as well as WYNN.
dont think i posted WYNN
[07:26 am] Kris : Kris : WLT short half
[07:26 am] Mitch K: FNSR might give a baby
2nd helping short
[07:26 am] Mitch K: NOTE: We may have more
of a selloff than normal today so these
shorts may mature more
[07:28 am] Kris : Kris : more sellers coming
in here
[07:28 am] Kris : Kris : out half ESRX
long
[07:28 am] Mitch K: Mitch King: it’s possible
that many of these shorts look like this one
on left, ITMN
[07:30 am] Kris : Kris : out half WLT
short
[07:30 am] Mitch K: Mitch King: looks like
more downside on DHR coming
[07:32 am] Kris : Kris : DLTR long half
[07:32 am] Mitch K: Mitch King: CBSH short
not worth staying with
[07:33 am] Kris : Kris : out another 1/4 WLT
short
[07:34 am] Kris : Kris : start looking for a
possible long in TNA
[07:35 am] Kris : Kris : CAVM short
[07:36 am] Mitch K: Mitch King: when you see
some of the earlier stocks that were posted
as a short mature much more than normal, like
ITMN, what I do is start looking for the
other ones to follow suit, which usually they
do, like now CMA
[07:37 am] Kris : Kris : TNA long small
position
[07:38 am] Brent : Brent : watching GRA for a
bounce
[07:38 am] Kris : Kris : looking for 38.67
first target TNA long
[07:39 am] Kris : Kris : SODA long
[07:39 am] Mitch K: Mitch King: getting
bounces in most of the stocks im following
[07:42 am] Kris : Kris : good eye matt
[07:43 am] Kris : Kris : dead cat bounce
[07:43 am] Kris : Kris : WLT new lows
[07:45 am] Mitch K: Mitch King: very negative
to see that rebound fail and shorts are now
lower lows
[07:46 am] Kris : Kris : watching AGU for a
short below 84.77
[07:47 am] Kris : Kris : YOKU short half
[07:48 am] Kris : Kris : PANL running
[07:50 am] Kris : Kris : FOSL short half
[07:51 am] Mitch K: Mitch King: when you see
the stocks that were not performing like CBSH
that i mentioned, and then you see them sell
off on the short side like the others, you
know the market is weak and it should be
another reason to hold open those shorts when
that happens
[07:52 am] Kris : Kris : watch SPY trendline
resistance
[07:53 am] Kris : Kris : thanks ronfrac[07:53
am] Kris : Kris : the obamashort[07:57 am]
Kris : Kris : looking for new lod in YOKU
[07:57 am] Kris : Kris : seeing more sellers
coming in here. weak bounce in the SPY so
far. look for new lows from here
[07:58 am] Kris : Kris : out half FOSL
short
[07:58 am] Kris : Kris : SPY next support
114.50 area
[07:58 am] Kris : Kris : still can’t break
that resistance trendline[07:59 am] Kris :
Kris : lol[07:59 am] Kris : Kris : market
baracking support levels
[07:59 am] Kris : Kris : where is rockstar
when I need him
[08:00 am] Kris : Kris : learn to speak
chinglish[08:00 am] Kris : Kris : YOKU at
lod[08:05 am] Kris : Kris : watching GS for a
short on a new lod[08:07 am] Kris : Kris :
VRUS long half
[08:08 am] Kris : Kris : BMRN long half
[08:10 am] Kris : Kris : got an order at .83
for first target on VRUS long
[08:10 am] Kris : Kris : out half VRUS
long
[08:13 am] Kris : Kris : JOYG short half
[08:14 am] Brent : Brent : consider reducing
GRA if long
[08:19 am] Kris : Kris : SPY starting to come
into resistance here
[08:20 am] Kris : Kris : not a good time yet
doji, I would pass on the long idea at this
time.
[08:20 am] Kris : Kris : out another 1/4 VRUS
long
[08:23 am] Kris : Kris : out all VRUS long
[08:25 am] Kris : Kris : SODA breaking out
[08:29 am] Kris : Kris : JVA long
[09:04 am] Kris : Kris : out half BMRN
long
[09:50 am] Brent : Brent : SPY testing
support
[10:03 am] Kris : Kris : yes, I think so
topdog, another weak bounce here, look for a
break to new lod.
[10:04 am] Kris : Kris : SPY at resistance
with subsequent lower highs, if we lose the
lod support we could have a nice drop.
[10:38 am] Mitch K: Mitch King: also watching
TNA for bounce
[10:38 am] Mitch K: Mitch King: looking for
bounce in WYNN
[10:47 am] Kris : Kris : anyone still short
AGU, watch that trendline resistance as your
stop on the last piece of your position.
[10:54 am] Mitch K: Mitch King: consider
selling TNA long scalp soon
[10:58 am] Mitch K: Mitch King: that means
long on VC
[10:58 am] Mitch K: Mitch King: watching VC
for bounce
[11:31 am] Mitch K: Mitch King: consider
closing VC here 43.67 area
[12:02 pm] Mitch K: Mitch King: anyone take
these late trade ideas i posted, TNA, VC,
WYNN
[12:04 pm] Mitch K: Mitch King: this is
excellent volatility today. You make most
money when it is a day like this and the
stock price stays within a range but a wide
range and it goes to the top and bottom
repeatedly
[12:05 pm] Mitch K: Mitch King: we also
missed posting to you AEM and NEM earlier but
at that moment, as usual, it becomes a time
management. felt like early in the morning
opening when things are very busy
[12:40 pm] Mitch K: Mitch King: i think the
odds are quite high we break below support
levels, like the one i will draw on TNA
[12:42 pm] Mitch K: Mitch King: my guess is
the Greece situation going to come to a head
soon, maybe next few weeks
[12:42 pm] Mitch K: Mitch King: we go below
this blue line and going to be ugly on the
downside
[12:47 pm] Kris : Kris : Repeat after me
[12:47 pm] Kris : Kris : The Markets Are
Never Wrong
[01:00 pm] Brent : Brent : have a good night
everyone, see you in the morning
[01:00 pm] Kris : Kris : Goodnight everyone.
Great job today. See you all tomorrow
morning.
[01:01 pm] Mitch K: Mitch King: later
guys,… hey, I won’t see you tomorrow but
will on Wednesday
|
[06:07 am] joeytsa : explosion at french
nuclear site
[06:09 am] joeytsa : gap ups :
NETL,IDCC,ENOC,FSLR
[06:10 am] joeytsa : gap downs :
QCOR,TZOO,SODA,LULU,CREE,TIF
[06:14 am] joeytsa : yeah mike..big gap, but
not one i ever try to fade
[06:14 am] mikewd2 -: buyout must be around
48 bucks
[06:16 am] Mitch K: HEY HAS ANYONE BEEN
LISTENING TO cnbc JUST now? Did anyone hear
what Cramer said a few min ago? he said
something about ETFs hurting the mom and pop
at home buying stocks
[06:16 am] Mitch K: i missed most of it
[06:16 am] Mitch K: what did he say?
[06:16 am] joeytsa : he has been against
etf’s for a long time
[06:17 am] mikewd2 -: he has always been
against ETFs
[06:17 am] Mitch K: i think that trend is
going to continue
[06:17 am] Mitch K: what’s his reasoning?
[06:17 am] swingtrader : that after 3 the
market may drop another 1.5% and he won’t
recommend be long or short
[06:17 am] Mitch K: i think it takes the
stock picking out of the process
[06:17 am] rd : i caught the tale end and he
was saying if were down 2% at 3pm expect
another 1 to 1.24% because of the etf’s[06:18
am] joeytsa : if i remember right its because
when you invest in an etf, you really aren’t
investing in the companies
[06:18 am] joeytsa : i tuned it out because i
thought he was going to say the same thing
[06:18 am] Mitch K: oh, ok, so the ETF funds
are adding to the volatility because they
have to buy 2 or 3 timex as much to meet the
volatility requirements
[06:19 am] rd : and i guess they settle up at
end of day
[06:19 am] Mitch K: it might be that he is
saying this because it sort of takes his job
away
[06:19 am] joeytsa : i also get the feeling,
that etf’s don’t buy stock..they might make
plays in options etc, but i mihgt be off on
that one
[06:19 am] Mitch K: yes, they have to use
options because they are 2 or 3 to 1
leveraged
[06:19 am] Mitch K: ok thanks guys
[06:19 am] swingtrader : Cramer hates ETFs
Mitch
[06:20 am] mikewd2 -: anyone buying some TZA
premarket?
[06:21 am] garyb : Hi Mitch…I have heard
Cramer talk about it..he hates the 3x
ETFs…he says they are flawed
[06:21 am] Mitch K: why are they flawed?
[06:21 am] joeytsa : PNRA gapping down
also
[06:21 am] garyb : Because he says they
adjust them every night..and eventually if
you hold on too long they do damage
[06:22 am] tallstonetrading : Mitch- you
should be able to call back the clip on Video
streaming http://www.cnbc.com
[06:23 am] Mitch K: oh that’s true. for sure.
if you look at the financial etfs, after that
2008 crash and the short financial etfs did
well….. a year later, they dropped a lot
more than a financial stock would have, and i
followed the non leveraged ETFs then
[06:23 am] Mitch K: ok thanks tallstone[06:24
am] doji : If you read Crammer’s book
“Getting Back to Even” you will understand
why he is against 3x leverage ETF’s
[06:26 am] lightning : let’s knock it out of
the park today. Good luck everyone.
[06:26 am] joeytsa : europe’s gonna be a big
issue
[06:26 am] garyb : that’s why I get a little
nervous to hold TNA/TZA for too too long
[06:26 am] garyb : Mike did you buy TZA in
premarket?
[06:27 am] mikewd2 -: yes in TZA 50.41,
trying to decide to dump now or at open
[06:27 am] joeytsa : nice profit so far 🙂
[06:28 am] mikewd2 -: had it in 51.25 and it
didn’t hit it, missed by 1 cent
[06:28 am] joeytsa : yeah happens to me on my
limits sometimes
[06:28 am] mikewd2 -: only 500 shares
[06:28 am] joeytsa : sell half, raise stop
tight
[06:29 am] joeytsa : if it’s moving fast, i
sometimes gunsling with a market order..only
time i ever use them, except unless i am
drastically wrong and need to exit a trade
[06:29 am] mikewd2 -: took the profit
[06:29 am] doji : Ok I see SPY and TNA…
time to rock
[06:29 am] mikewd2 -: 50.1
[06:30 am] garyb : good one mike
[06:30 am] joeytsa : good job mike
[06:34 am] joeytsa : out SODA long on open +
.75
[06:36 am] joeytsa : still in IDCC short on
open
[06:36 am] joeytsa : thanks guys
[06:38 am] joeytsa : out IDCC
[06:39 am] joeytsa : +.40 oh well
[06:39 am] joeytsa : mike: smart move getting
rid of TZA when you did 🙂
[06:40 am] mikewd2 -: been looking at that
[06:40 am] joeytsa : CMG closing gap
[06:41 am] joeytsa : SINA shooting for gap
close
[06:43 am] eyes-inthenow : what do you
consider top in itmn[06:46 am] swingtrader :
wow TNA
[06:46 am] joeytsa : great trade Kris on SINA
!!!
[06:46 am] joeytsa : paid the mortgage on
that one…or at least got yourself a new
surfboard 🙂
[06:47 am] garyb : I know Itacher……TNA is
rocking out!
[06:52 am] doji : QCOR long 26.15
[06:53 am] joeytsa : FOSL running
[06:54 am] garyb : anyone watching TZA for an
entry
[06:55 am] mikewd2 -: me, don’t think this up
market can last
[06:55 am] garyb : me too..thinking it will
top out
[06:55 am] joeytsa : same here, just don’t
want to try to catch a falling knife
[06:55 am] swingtrader : i think the stock
are setting up for shorts ..I think
[06:55 am] swingtrader : watching DB
[06:56 am] mikewd2 -: ITMN not working out
[06:57 am] swingtrader : I like LVS short any
signal yet Mitch
[06:57 am] mikewd2 -: stopped out on ITMN
[06:58 am] eyes-inthenow : yes please give
signal on LVS
[06:58 am] junior : brent thanks for
QCOR…still got a piece
[07:00 am] garyb : in TZA
[07:00 am] garyb : maybe too early though
[07:01 am] mikewd2 -: I’m in too
[07:01 am] garyb : Stochastic crossover on 1
min
[07:01 am] garyb : okay mike….maybe we did
good
[07:02 am] mikewd2 -: chart looking good
[07:04 am] swingtrader : watching SVM for a
short
[07:06 am] garyb : stopped out of TZA
[07:10 am] joeytsa : some cities and states
had been saying something like that too
[07:13 am] garyb : here we go Mike
[07:13 am] swingtrader : FNSR turning
[07:13 am] joeytsa : out QCOR short +1.20,
made up for a 60cent loss earlier
[07:14 am] joeytsa : 3 for 4, gonna sit back
for a bit
[07:16 am] joeytsa : keep eye on that 42.60
level on DHR
[07:18 am] junior : all out TZA long
[07:18 am] anthonyb : any of you guys trade
SDS, SSO instead of TZA,TNA?
[07:19 am] swingtrader : Mitch I got FNSR
from 19.42 should i cover here
[07:20 am] joeytsa : I don’t anthony, used
to follow the DXD but not so much anymore
[07:21 am] joeytsa : ITMN turned into a nice
short, didn’t play it though
[07:22 am] mikewd2 -: got stopped on it,
figures
[07:22 am] joeytsa : from now on when you
get stopped I’m jumping in 🙂
[07:22 am] candelas : thx for QCOR
[07:23 am] topdogrex : Kris, tg for
titn[07:23 am] Mitch K: swingtrader, you have
to decide when to execute a position,
especially a closing one. I see my role as
trying to find as many good ideas as possible
first 60-90 minutes
[07:23 am] mikewd2 -: LVS starting to look
weak
[07:24 am] topdogrex : 21.14
[07:24 am] garyb : darn..got out of TZA too
early
[07:25 am] swingtrader : excellent point
thank you lol[07:26 am] swingtrader : I
understand
[07:26 am] junior : same here garyb, out
[07:27 am] topdogrex : tx, kris[07:27 am]
junior : TZA too soon, but nice profit
[07:27 am] garyb : me too junior
[07:28 am] mikewd2 -: covered LVS short
[07:28 am] joeytsa : also triple witching
this week, might come into play
[07:30 am] swingtrader : FNSR looking
good
[07:32 am] mikewd2 -: looking for bottom in
WLT
[07:34 am] truck : watching CMI
[07:34 am] rusty : TLT hod[07:36 am] joeytsa
: Mitch: are you talking overall, same
sector or both??
[07:37 am] joeytsa : I notice same sector
stocks do that many times
[07:38 am] shark : lod TNA -support here
[07:39 am] shark : sorry- TNA support here
on DAILY chart
[07:39 am] junior : nice call tna
Kris!!!!!!!
[07:39 am] garyb : In TNA
[07:40 am] garyb : Perfect timing Kris! You
rock!
[07:42 am] lightning : watching to see if GS
drops below 100.
[07:43 am] rusty :
http://my.jetscreenshot.com/demo/20110912-zn1
6-110kb.jpg VIX
[07:43 am] mikewd2 -: stopped on GRA
[07:43 am] mikewd2 -: not a good day to try
longs
[07:44 am] garyb : no power in the longs
no
[07:45 am] texas : FOSL lod[07:45 am]
rusty : WLT radar
[07:45 am] doji : I agree Mike, had no luck
with QCOR
[07:46 am] shark : just another excuse to
sell at hod, Mitch
[07:46 am] reacher : Brent, I don’t see a
close support price for GRA bounce?
[07:46 am] garyb : today almost looks like a
repeat of Friday
[07:46 am] anthonyb : okay gang, I’m done.
another really good day. Thanks Mitch,Brent,
and Kris. See all of you tomorrow
[07:47 am] rusty : GS sub 100
[07:49 am] doji : News on PANL?
[07:50 am] doji : Broke resistance at 51
PANL
[07:52 am] eyes-inthenow : PANL looking
good
[07:53 am] shark : get your weakest shorts
ready…
[07:53 am] ronfrac : Pres going to speak
[07:53 am] mhaus : Pres going to speak. Long
TZA?
[07:54 am] swingtrader : PANL watching for a
short
[07:54 am] shark : maybe already somewhat
anticipated MHaus…
[07:54 am] mikewd2 -: he has to move the
market up at some point, or maybe not until
jan 2013!
[07:54 am] mikewd2 -: CJES L 23
[07:54 am] mhaus : happens always 🙁
[07:55 am] swingtrader : the obama
modification white house short ..he took a
line of credit on the white house to pay for
jobs
[07:55 am] swingtrader : lol[07:56 am] truck
: Obama about to speak
[07:56 am] shark : Europe closing shortly –
caveat here too
[07:56 am] eyes-inthenow : Brent any
thoughts on S QCOR here
[07:57 am] shark : short AAPL, CMG, LULU
here
[07:57 am] ronfrac : I don’t trust what OB
will say. I rather be flat
[07:57 am] mikewd2 -: yep, joey
[07:57 am] mikewd2 -: WLT moving up
[07:57 am] joeytsa : mikew: might have a
“Lone Ranger” trade coming up…Hi Ho
Silver
[07:57 am] eyes-inthenow : THanks for
Answewring[07:57 am] Brent : not for me Eyes,
I’d consider QCOR short at the $28 area
[07:58 am] shark : SPY below 114.38 will
break our 9/6 support level – must hold
here
[07:59 am] swingtrader : turning panl[07:59
am] shark : lulu
[07:59 am] shark : haha, good one Kris
[07:59 am] sfarrill : lol[07:59 am] joeytsa
: yeah Kris…smell that smoke…it’s just
the future burning
[07:59 am] Brent : lol[08:00 am] ronfrac :
He lies. NC did not lay off any teachers.
[08:00 am] eyes-inthenow : PANL just
turned
[08:00 am] doji : QCOR hard to Short…
stopped
[08:00 am] doji : I should have shorted PANL
instead
[08:01 am] swingtrader : yeah cover under
51
[08:01 am] shark : yup, joeytsa, you r
right
[08:01 am] shark : SPEND, SPEND, SPEND,
SPEND
[08:01 am] ronfrac : TNA doesn’t like
speech
[08:01 am] ronfrac : Let’s pass this billo
runner upper next Nov.
[08:01 am] joeytsa : that bill won’t help
[08:01 am] joeytsa : stock market wants
growth and only growth
[08:01 am] joeytsa : busy jobs are great,
but they are temporary
[08:02 am] tennisball : pass now-do not
read!! yeah that’s who he thinks we are,
sheep
[08:02 am] swingtrader : lol[08:02 am]
swingtrader : focusing
[08:02 am] shark : TZA does…
[08:02 am] Mitch K: good eye on PANL boys
[08:02 am] mikewd2 -: ITMN down 2 from where
i got stopped, bummer!
[08:02 am] joeytsa : its called the “mikewd2
stop fade”
[08:03 am] shark : repeat after me, CUT
DEFICIT, CUT SPENDING
[08:03 am] mikewd2 -: I know, I’m going to
solve that next time
[08:04 am] truck : sounds like tax
increase
[08:04 am] shark : “it’s full paid
for”…lookin’ like a magic act to me
[08:04 am] joeytsa : the $$ needs to get
stronger so others want to invest here
[08:04 am] joeytsa : no country has ever
devalued is currency to prosperity
[08:04 am] joeytsa : govt wants to devalue
our $$, run up inflation to help pay debts
[08:06 am] shark : did they say how long
this speech is going to be?
[08:06 am] shark : always good to time the
Obama trades
[08:06 am] rusty :
http://my.jetscreenshot.com/demo/20110912-cii
9-162kb.jpg SPY
[08:06 am] joeytsa : keep eye on bond
market, with them running they are telling us
the economy is no so good
[08:07 am] shark : I’m out my shorts AAPL,
CMG, LULU
[08:07 am] eyes-inthenow : S CMA 22.64 out
22.23
[08:08 am] mikewd2 -: nice eyes
[08:08 am] lightning : L GRA 33.59
[08:09 am] eyes-inthenow : I am Working on
Patience
[08:10 am] rusty : flat QCOR
[08:10 am] eyes-inthenow : Did anyone get
PANL
[08:11 am] swingtrader :
http://finviz.com/chart.ashx?t=PANL&t
y=c&ta=1&p=d&s=l
[08:15 am] reacher : Done for today. Good
luck everyone.
[08:18 am] doji : Is PANL worth L here?
[08:19 am] swingtrader : you mean short
[08:19 am] swingtrader : Short Doji[08:19
am] doji : 2min stochastics pointing up
[08:20 am] doji : Thanks Kris
[08:21 am] swingtrader : just an idea I am
allocating small position short on DNDN just
an idea
[08:23 am] swingtrader :
http://finviz.com/quote.ashx?t=dndn&t
y=c&ta=1&p=d
[08:23 am] junior : good call VRUS Kris
[08:29 am] swingtrader : my stop in DNDN
11.51
[08:30 am] truck : out CMI
[08:30 am] doji : DNDN moving up
swingtrader[08:31 am] swingtrader : is short
live
[08:34 am] doji : TNA moving up
[08:34 am] doji : Good to tae TZA L later
[08:35 am] victor51 : Thanks. i am still
trying to get use to day trading
[08:35 am] mikewd2 -: may get a chance a bit
later today!
[08:35 am] garyb : and I almost bought TNA
in premarket at 36
[08:35 am] doji : take
[08:36 am] swingtrader : I don’t think
Greece will recover ..
[08:37 am] derns : Mitch..what do you make
of today’s market? I fully expected a
significant and continued sell off with the
expectation Greece will fail, but it seems to
be performing better than that. Is this
short covering?
[08:38 am] garyb : I agree derns…..I was
expecting a down market too … but we see
some strength
[08:40 am] derns : Kind of
interesting…S&P is down 4.47 and
TNA is up .19
[08:40 am] mikewd2 -: doubling up on APA L
94.12
[08:41 am] mikewd2 -: SLB L 71.4
[08:44 am] doji : Kris, can you have a look
at QCOR for S please?
[08:45 am] rusty : RAJARATNAM SAYS HE’S NOT
`CLEAR’ ON INSIDER RULES, U.S. SAYS –
Bloomberg
[08:50 am] rusty : Bubba gonna teach Raj
insider trading rules
[08:51 am] eyes-inthenow : Brent How about
now on QCOR
[08:52 am] rusty : or there about
[08:52 am] rusty : GLD lod[08:52 am]
lightning : S NVDA 14.19
[08:53 am] apple : coming up on noon
reversal – where is gecko?
[08:54 am] eyes-inthenow : Gecko has not
been back
[08:55 am] eyes-inthenow : Brent How About
now on QCOR
[08:55 am] doji : DNDN S 11.62
[08:58 am] doji : TZA L 48.36 also
[08:58 am] doji : Stochastics on TZA 2min
chart up….
[08:59 am] rusty :
http://www.chicagotribune.com/business/breaki
ng/chi-caterpillar-ceo-says-company-cant-find
-enough-skilled-workers-20110912,0,7463843.st
ory
[08:59 am] garyb : lol[08:59 am] garyb : in
TZA as well
[08:59 am] garyb : I got too excited and
bought earlier!
[08:59 am] garyb : 48.47
[08:59 am] doji : I was looking for the
setting on TZA the whole morning
[08:59 am] doji : beat you by 11c Gary!
[09:00 am] doji : Sell all TZA here
[09:00 am] doji : Good 0.96C yeahhhh[09:01
am] garyb : i raised my stop on TZA
[09:01 am] candelas : thx Brent just stopped
last 1/4 QCOR
[09:02 am] eyes-inthenow : How are you doing
Apple
[09:02 am] doji : Gary watch your 2min
stochastics in TZA
[09:03 am] eyes-inthenow : I am good
[09:03 am] apple : wonderful, thx eyes. how
about you?
[09:04 am] garyb : I see doji…..I’m also
looking at 5min stochastics which just
crossed over
[09:04 am] eyes-inthenow : How is your
trading going
[09:06 am] garyb : doji….5 min MACD
also
[09:06 am] doji : 5min on the TNA or TZA is
too long for me on day trade
[09:07 am] doji : They are too volatile
[09:07 am] doji : so 2 or 3min is what I
use
[09:07 am] garyb : I use 1, 2, 3 &
5….keep switching around like a madman!
lol[09:08 am] doji : The SPY is dropping so
it should help TZA
[09:09 am] shark : market like a diminishing
Sine Wave -almost like last Tues
[09:12 am] swingtrader : Doji am watching
BBY an Enquiring Pattern
[09:13 am] swingtrader : Doji look at the
five min Chart
[09:13 am] doji : Yeap, the stochastics is
moving up
[09:14 am] doji : Worth staying with TZA as
long as the market move down
[09:15 am] swingtrader : Good day
[09:15 am] scalpman : Great day today; See
you all tomorrow.
[09:15 am] garyb : Yes..I may hold on a bit
to TZA doji[09:15 am] doji : That’s good
idea Gary
[09:15 am] doji : If your entry was good
then you can have a better range to maneuver
and track the stock in a longer time frame
period
[09:16 am] swingtrader : scalpman good
day
[09:16 am] doji : My target was $1.0 so I
exit my filled
[09:18 am] mikewd2 -: JPM has 15B in exposure
to PIIGS, MS has 2B
[09:20 am] garyb : mike are you in TZA
still?
[09:21 am] derns : CNBC..is doom/gloom on
the market
[09:22 am] garyb : I get so mad at CNBC!
[09:23 am] mikewd2 -: no, I’m playing SINA,
SLB, WLT
[09:23 am] derns : Bad and Sad makes the
news
[09:25 am] lightning : I solved the CNBC
problem. I stopped watching it about 6
months ago.
[09:26 am] sonorant : hear hear!
[09:26 am] Kris : that’s what has worked best
for me too matt
[09:26 am] joeytsa : yeah lightning..best to
do with most news
[09:26 am] joeytsa : read it as opposed to
listen to it
[09:26 am] garyb : lol[09:27 am] rusty :
MIPS radar, sudden volume
[09:27 am] candelas : MIPS
[09:28 am] rusty : Starboard Value Delivers
Letter To MIPS Technologies
[09:28 am] joeytsa : gold stocks having a
rough day
[09:28 am] joeytsa : AEM lod[09:29 am]
sonorant : Isn’t that rather odd about
gold?
[09:29 am] derns : SLV dropping
[09:30 am] joeytsa : with the market down, i
would say yes
[09:30 am] joeytsa : something’s
brewing..just not sure what
[09:31 am] joeytsa : bonds on a tear since
end of july[09:32 am] sonorant : Though that
isn’t much of a hedge against inflation.
[09:32 am] sonorant : Maybe people are
stuffing greenbacks under their
mattresses….
[09:32 am] mikewd2 -: GS down 40% YTD, glad I
have 2013 Leaps – got time
[09:32 am] joeytsa : nope
[09:33 am] joeytsa : the sell date on GS was
by mid-feb at the latest
[09:33 am] joeytsa : not a big fan of
banks
[09:34 am] mikewd2 -: yes
[09:34 am] mikewd2 -: need SINA to break
105
[09:34 am] joeytsa : mike, short sina?
[09:35 am] storage : did any one short
mips[09:35 am] joeytsa : keep close eye on
that 104.74 area
[09:36 am] joeytsa : there you go mike
[09:36 am] candelas : yep
[09:39 am] sonorant : I wasn’t
[09:40 am] sonorant : I wasn’t sure where
the turning point was on mips, so I just
watched. Did you get it candelas?
[09:40 am] candelas : yes
[09:41 am] joeytsa : the ES ticking down
[09:42 am] mikewd2 -: covered 104.85
[09:42 am] joeytsa : stopped out +3 ticks
[09:44 am] joeytsa : nice job mike, i just
took $187.50 on the ES b4 commissions
[09:45 am] mikewd2 -: only got 165
[09:45 am] mikewd2 -: but it all spends!
[09:45 am] joeytsa : maybe i should short
SINA from here haha[09:46 am] mikewd2 -: it’s
bounced twice off that
[09:46 am] mikewd2 -: i was worried about the
104.74 point like you mentioned
[09:46 am] mikewd2 -: good idea, i usually
jump the gun
[09:46 am] joeytsa : the “mike stop fade
trade” haha[09:46 am] joeytsa : might have
to patent that 🙂
[09:47 am] joeytsa : yeah that was previous
close, i always look at that
[09:48 am] joeytsa : after market look at
that SINA chart from the open, roughly a 5
point move with a 50% retracement to the
previous close
[09:49 am] mikewd2 -: yep, those charts are
crystal clear then!
[09:49 am] joeytsa : things are always
picture perfect in hindsight though
[09:50 am] joeytsa : but that’s what has to
be studied until we can see them BEFORE they
happen, pattern recognition
[09:51 am] swingtrader : How we are going to
create jobs and moving the US economy when EU
is pooling us down what difference is going
to make ….
[09:51 am] joeytsa : to me, there won’t be
jobs until demand increases
[09:51 am] joeytsa : sometimes we are wrong,
but i try to put the odds on my side as much
as i can
[09:52 am] joeytsa : same population that
drove the markets big in the 90s, along with
the internet revolution
[09:52 am] joeytsa : don’t forget, the
biggest part of our population has already
started to go into retirement/savings
mode….
[09:53 am] joeytsa : will also crush housing
more i think, but who really knows
[09:54 am] mikewd2 -: i will, moved over to
TNA
[09:54 am] joeytsa : mike: still watching
SINA?
[09:55 am] joeytsa : depending on how
downtrend line is draw, might be a short
“redzone”
[09:58 am] mikewd2 -: just keeps hanging
there
[09:58 am] mikewd2 -: it wants to fall
[09:58 am] joeytsa : sure does, 105 was the
spot
[10:00 am] doji : Gary, still holding TZA or
you closed it?
[10:01 am] mikewd2 -: i bet Gary dumped and
moved to TNA
[10:03 am] topdogrex : Kris you think will
see 83.50 on AGU
[10:03 am] swingtrader : the market is
making a cup and handle
[10:03 am] swingtrader : pattern
[10:03 am] mikewd2 -: TNA, TZA giving pretty
clear signals
[10:04 am] swingtrader : I am referring to
the S&P[10:06 am] swingtrader : LVS
showing some strength here again
[10:06 am] mikewd2 -: WLT has provided
several 0.50 bounces today
[10:06 am] mikewd2 -: out TNA 38.5, in 38
[10:08 am] mikewd2 -: trying not to get to
greedy on these trades, i think we are going
to head down big time at some point
[10:08 am] joeytsa : nice trade mike, you
are rollin’
[10:09 am] mikewd2 -: starting to get a big
too heavy though, need silver to hurry up and
break below 40
[10:09 am] mikewd2 -: added to my ZSL
position this morning for long
[10:09 am] joeytsa : keep doing what works
for you
[10:11 am] joeytsa : mike: ANR another good
chart to study, gapped down at open, closed
gap and then fell back to open and below
[10:12 am] joeytsa : my problem is i have
seen his exact pattern so many times, that
sometimes i get in way to quick..shoot first
ask questions later
[10:13 am] mikewd2 -: i hear you
[10:13 am] joeytsa : that’s where stops come
in…
[10:14 am] mikewd2 -: oh yeah, the best thing
I’ve learned from TSA – I was terrible on
them before
[10:14 am] joeytsa : i usually get in slower
on gap downs, but on gap ups its usually a
shoot first trade, goes back to the old
uptick rule
[10:14 am] joeytsa : AGQ falling
[10:15 am] mikewd2 -: must be a delayed Obama
fall – maybe there is a rerun on one of the
channels playing
[10:15 am] joeytsa : haha[10:16 am] mikewd2
-: lol[10:16 am] joeytsa : haven’t the past
3 years been a bad rerun 🙂
[10:17 am] mikewd2 -: wish i understood why
silver and gold are down
[10:18 am] lightning : funny, mike. On my
iTunes, I happened to be listening to U2’s
“Silver and Gold” when you asked that.
[10:18 am] joeytsa : you got me, but i am
searching to find out
[10:18 am] joeytsa : i had Burl Ives version
🙂
[10:19 am] lightning : LOL. I buy when the
Rolling Stones “Start Me Up” starts.
[10:19 am] derns : Mikewd2..if you figure
out a logical way to explain silver, I am a
listener.
[10:20 am] lightning : joey, is that from
the old Rudolph special?
[10:20 am] joeytsa : the only think i can
think of with silver is that it’s a useable
commodity
[10:21 am] mikewd2 -: personally i don’t like
silver, don’t understand why it is this high
– i firmly believe its a 28/oz metal. And I’m
betting heavy that I’m right
[10:21 am] joeytsa : yeah rudolph[10:21 am]
joeytsa : i get the feeling silver will go
on a huge run, but not until the world
economy shows some life
[10:22 am] lightning : eyes, what broker are
you using?
[10:22 am] joeytsa : same with
steel..recently 100% of steel stocks were on
p&f sell signals, cant get any lower
than that
[10:22 am] eyes-inthenow : Does Anyone here
know how to trade off of esignal charts
[10:22 am] apple : lol[10:23 am] terry :
eyes get the dvd from tsa that shows you how
to set up your chart
[10:23 am] eyes-inthenow : place a trade
[10:24 am] mriguy -: Yes eyes. I have IB and
trade from the e signal charts.
[10:24 am] mikewd2 -: and I think the Webinar
is going to go over that in detail
[10:24 am] lightning : Only some brokerage
firms allow you to trade off an e-signal
chart.
[10:24 am] eyes-inthenow : no trade off of
the chart window
[10:25 am] lightning : But Lightspeed
doesn’t allow trading from the e-signal
chart.
[10:25 am] Kris : can’t integrate that way
with lightspeed eyes
[10:25 am] eyes-inthenow : ok thanks I just
watched a webinar of Ninja trader they are
pretty cool
[10:25 am] eyes-inthenow : lightspeed[10:32
am] doji : Here comes the selloff
[10:35 am] swingtrader : POT breaking down
..just watching it
[10:40 am] swingtrader : Watching TNA
[10:40 am] joeytsa : +.75 on TZA, lunch
time, see you guys in a little while…good
morning so far
[10:54 am] swingtrader : out on TNA
[10:54 am] doji : Wondering why I didn’t
take TNA L
[10:54 am] doji : L TZA
[10:55 am] swingtrader : thank you Mitch
grate call awesome trade
[10:55 am] doji : 49.83
[10:56 am] swingtrader : sold all of it
[10:56 am] swingtrader : nice yehaaaaa
finally made a good trade off for the day
[10:56 am] mikewd2 -: 37.25 out 37.80, nice
one Mitch
[10:56 am] eyes-inthenow : L TNA .31 out
.83
[10:57 am] Mitch K: look for 50.30 on TZA
doji[10:57 am] doji : Thanks Mitch
[10:59 am] Mitch K: hey eyes, can you write
out the full price, makes it easier to
read
[11:00 am] mikewd2 -: good one eyes
[11:00 am] eyes-inthenow : L TNA 37.31 out
37.83
[11:01 am] mikewd2 -: your rolling today,
yes>
[11:01 am] eyes-inthenow : 52.00 on 100
shares
[11:02 am] mikewd2 -: about 1.5%
[11:03 am] neuronx : Migt be nice selloff on
TNA again
[11:03 am] eyes-inthenow : Mitch is it good
to enter here and what’s a good stop
[11:04 am] swingtrader : mitch TZA
approaching 50.30 mark
[11:06 am] mikewd2 -: 36.75 next target for
TNA
[11:06 am] doji : All out TZA 50.78
[11:07 am] pow : Mike, your opinion on tza
and zsl and typ. I have been long since last
Monday these
[11:07 am] pow : I am using UUP for my
guide
[11:07 am] mikewd2 -: i’m very long on ZSL,
i’m just day trading TZA, TNA based on the
charts.
[11:07 am] doji : almost $1, thanks Mitch
[11:08 am] doji : I know there is no a sell
signal on the 2min stochastics but I put my
sell order right at the previous high
[11:08 am] doji : and the big jump hit my
sell order
[11:09 am] qwert : watching gra[11:09 am]
mikewd2 -: pow, i think I’m in a minority on
my thoughts on silver going way down! be
careful
[11:10 am] qwert : need to see 32.00 area
gra[11:10 am] mikewd2 -: as joey always
reminds me, put in some stops to protect your
gains
[11:12 am] rusty : VIX 43’s
[11:12 am] pow : The dollar is rising, and
they are selling out of silver and gold
becsuse the dollar is rising NOT failing.
therefore the market is rising and Metals
are over bought.
[11:13 am] mikewd2 -: so since you’re up
nicely on ZSL, i would put in a trailing stop
as it goes up.
[11:19 am] pow : thanks, doing that on ZSL
and TZA. Looking for Vix to spike to 80
between now and OCT 4th.. also looking for
TNA to take out august lows of 36
[11:22 am] derns : Pow..what is your time
frame on looking at TNA to go below 36?
[11:24 am] swingtrader : Watching RIG
[11:24 am] mikewd2 -: another nice bounce on
TNA
[11:25 am] lightning : That’s it for me
today. Thanks TSA and everyone. See you
tomorrow.
[11:25 am] joeytsa : not sure if WLT can get
that hod[11:25 am] joeytsa : have a good one
lightning
[11:26 am] pow : fellows, note that the vix
has broken out of its daily bull flag. be
aware
[11:26 am] lightning : thanks Joey.
[11:31 am] mikewd2 -: nice call on VC
Mitch
[11:33 am] mikewd2 -: out TNA 37.8, in 37.25
– twice in last hour
[11:35 am] joeytsa : nice surge in buying
[11:35 am] derns : BBY
[11:36 am] swingtrader : watch RIG
incredible
[11:36 am] joeytsa : WLT shot up nice
[11:36 am] doji : Look at TNA…
[11:37 am] mikewd2 -: got out way too
early
[11:37 am] joeytsa : FFIV
[11:37 am] joeytsa : APKT
[11:37 am] doji : Any news in the market for
this spike on the SPX?
[11:42 am] garyb : yes I agree…the thing
is when you st at the computer ya kinda get
the “pulse” of the market….now I have to
zone in again
[11:44 am] mikewd2 -: WLT moving up nicely
[11:45 am] garyb : watching tza now for
long
[11:49 am] Brent : have a good night apple
[11:49 am] apple : thx MK, K, B and
everyone. gotta leave early – dentist appt.
today – everyone have a wonderful evening.
[11:50 am] sonorant : Well, I just traded
APKT with 10 shares — my new discipline
while I learn to navigate the quick spiky
ones. Missed some of those really good
mid-morning trades — working on funding my
IB account before the approval runs out.
[11:50 am] mikewd2 -: long TZA
[11:50 am] Kris : see you tomorrow pat
[11:51 am] mikewd2 -: only half position at
49.43
[11:51 am] garyb : man mike..I missed it by
a few seconds! stupid order entry I have!
[11:52 am] mikewd2 -: we should have been at
48.65
[11:52 am] garyb : that is why I am opening
a tradestation account…I love their Matrix
order entry…..really FAST
[11:53 am] mikewd2 -: my price wasn’t etrade
fault
[11:54 am] garyb : I have mine in for
48.45…but it took too long to
confirm…etc…and by that time the price
jumped like a wild baboon
[11:55 am] sonorant : I got in with my 10
shares at 48.65, but got out too soon!
[11:55 am] sonorant : And I bet Candelas is
trading it perfectly — both ends!
[11:55 am] garyb : its going to hit 50
again
[11:56 am] sonorant : That’s funny, you guys
are talking about TZA, and I was looking at
APKT
[11:56 am] mikewd2 -: 49.91 out, dang should
have went a full position
[11:57 am] mikewd2 -: AKPT looks like a good
short
[11:57 am] garyb : tna looks bad on 3 min at
this point
[11:57 am] garyb : lol[11:57 am] garyb :
I’m switching to look at TNA now
[12:02 pm] sonorant : gary, sounds like you
are becoming really flexible!
[12:03 pm] sonorant : I missed them Mitch,
was talking to my bank
[12:03 pm] qwert : wynn[12:03 pm] mikewd2 -:
twice and then flipped to TZA on sell off
[12:03 pm] mikewd2 -: TNA yes Mitch
[12:04 pm] victor51 : Today is my first
trial date and tried VC Very happy
[12:04 pm] Mitch K: nice to hear victor
[12:04 pm] mikewd2 -: my best day so far
Mitch, only loser was ITMN – got in too early
and stopped out
[12:04 pm] joeytsa : nice job victor
[12:04 pm] garyb : watching TNA now…tried
but stopped out…getting ready to buy
again
[12:05 pm] mikewd2 -: but bought APA and SLB
for swing and both are down a bit
[12:06 pm] joeytsa : very nice mike…you
kept a stop, even though in hindsight you
were correct
[12:07 pm] mikewd2 -: WLT might have one more
bounce in it today
[12:07 pm] garyb : in TNA
[12:07 pm] derns : long TNA
[12:08 pm] mikewd2 -: i’m in too 37.62
[12:08 pm] garyb : me too derns 37.57
[12:09 pm] garyb : sweet…good luck to
us!
[12:09 pm] eyes-inthenow : 7 wins no losers
just really small I get out way way way to
soon working on it thou
[12:10 pm] mikewd2 -: wow, very nice eyes –
glad for you
[12:10 pm] mikewd2 -: Mitch, you looking to
add TNA for swing or still tooo early?
[12:10 pm] mhaus : great eyes!
[12:10 pm] doji : I got 3 winners but the 1
loser (QCOR) eat all my profits
[12:11 pm] mikewd2 -: thinking of getting
some DIG for swing today
[12:12 pm] sonorant : Do you think DIG will
go up?
[12:12 pm] mikewd2 -: at some point
[12:12 pm] garyb : me too! lol[12:12 pm]
eyes-inthenow : I wanted too but wasn’t sure
if it was too late on VC
[12:12 pm] derns : Mikewd2…I have the same
question…swing TNA?
[12:13 pm] sonorant : My mom has a lot of
oil stocks that my brother bought 2 years
ago. I tried to get him to sell them in
april at the high, and he wouldn’t. Now I am
looking for an exit.
[12:13 pm] mikewd2 -: i bought some positions
for the future today, like SLB, CJES and
APA
[12:13 pm] mikewd2 -: and just now DIG
[12:14 pm] sonorant : How long do you intend
to hold them mike?
[12:14 pm] mikewd2 -: don’t really know
sonorant, certainly until the market
rebounders and oil goes back over 100
[12:14 pm] mikewd2 -: and holding WLT from a
lot higher purchase price
[12:15 pm] sonorant : Oil goes back over 100
on what measure/index?
[12:15 pm] sonorant : (you can tell I’m not
saavy about oil)
[12:15 pm] mikewd2 -: WTI
[12:15 pm] mikewd2 -: i’m not saavy on
anything, but i do like the stocks i own in
the oil industry
[12:16 pm] mikewd2 -: garyb, you going to
carry over the TNA? or take a profit if we
get a little one
[12:17 pm] mikewd2 -: i don’t have a stop on
TNA, figured I’m going to hold it – first 500
shares for the next big run
[12:17 pm] garyb : yeh..probably take the
profit……I’m waiting it out to take
another large swing position for
TNA….everything is a little crazy now
[12:18 pm] derns : BBy again
[12:19 pm] mikewd2 -: hope it does, will buy
more – don’t mind holding a 37.62 for a
while. Its only a loser if i sell.
[12:19 pm] mikewd2 -: CNBC discussing BBY
now
[12:19 pm] garyb : use it for you core
position…..good stuff..the only trouble is
that it may go under 36 and then we are in a
little trouble for a bit
[12:20 pm] mikewd2 -: yeah, probably tending
back to those bad habits.
[12:20 pm] joeytsa : be careful mike
[12:20 pm] garyb : I figure that 36 in TNA
is the support line…if it breaks then it
will go lower
[12:21 pm] sonorant : Actually, that is not
totally true. If you hold those too long,
they lose value relative to the stocks. It
has to do with the way they do the
calculations. If I think about it I might
be able to explain it. I held some ETF
shorts way too long a few years back and
learned about this problem then.
[12:21 pm] mikewd2 -: good point, that’s what
Mitch said – ok i’ll look at selling today
[12:21 pm] joeytsa : don’t have to
sell…just be careful with the ‘ it’s only a
loser if i sell” thought
[12:22 pm] mikewd2 -: try not to buy crappy
stocks, haha[12:22 pm] mikewd2 -: right
[12:22 pm] Kris : and your mental
resources
[12:22 pm] joeytsa : personally i think all
stocks are crap, just 3 or 4 letters i use to
put food on the table
[12:22 pm] joeytsa : holding a crappy stock,
keeps your money out of “good” stocks…
[12:23 pm] mikewd2 -: that’s more of it Kris,
your correct
[12:23 pm] mikewd2 -: need those for taxes!
lol[12:23 pm] joeytsa : if you buy at 40 and
hold it at 5…you still have a loser on your
hands
[12:23 pm] eyes-inthenow : Mitch Any
thoughts on Swinging TNA
[12:24 pm] mikewd2 -: well were up on TNA
now, so it will be gone shortly
[12:24 pm] Kris : that’s a common mistake
many people new to day trading make. Turning
an intra-day trade into a swing
[12:24 pm] joeytsa : that’s why i have
mentioned that i use separate accounts for
each type of trade
[12:24 pm] joeytsa : it’s just not on paper
yet…just like the banks with foreclosures
right now
[12:24 pm] joeytsa : exactly Kris….
[12:24 pm] joeytsa : daytrades are daytrades
only
[12:24 pm] derns : Kris…I have made that
mistake too many times..I think you said, “it
will implode your account”
[12:24 pm] candelas : forgive expression,
like turning a prostitute into a housewife
[12:25 pm] joeytsa : lots of the people with
these issues weren’t trading back in
2000/2001 or even as recent as 2008
[12:25 pm] garyb : nice…we have blastoff
in tna[12:26 pm] mikewd2 -: yeah
[12:26 pm] mikewd2 -: took the 38.20
garyb[12:26 pm] mikewd2 -: .58 profit
[12:26 pm] garyb : sweet!
[12:26 pm] garyb : sold it mike?
[12:26 pm] mikewd2 -: 1.5%
[12:27 pm] mikewd2 -: getting late
[12:27 pm] joeytsa : nice
[12:27 pm] garyb : I raised my stop
[12:28 pm] Mitch K: now you have to learn how
to hold on to your max profits
[12:28 pm] Mitch K: mikewd2, i think we
should wait to see if the market loses that
support levels and if it does go down, watch
out below. im not buying TNA long as a
swing. my guess is market heads down in a
very substantial way, starting now
[12:28 pm] mikewd2 -: my best day by far in
the trading room, love these days!
[12:28 pm] joeytsa : nice day mike
[12:28 pm] garyb : geez I did not even look
at the time! lol[12:29 pm] garyb : Got
stopped out Mike of TNA….made around 1%
[12:30 pm] victor51 : I am new to day
trading and would like to get help in getting
telechart and full view of chart
[12:30 pm] garyb : Yeh…as the price goes
up I keep raising the stop…in case it
shoots really high…the problem is I don’t
get the full top sell price!
[12:31 pm] mikewd2 -: victor51 you signed up
for the webinar?
[12:31 pm] mikewd2 -: that’s especially true
on TZA, TNA or other fast movers. I’ve had
stops at and got a dime or more lower
before
[12:31 pm] joeytsa : don’t worry gary, you
can always buy again
[12:32 pm] joeytsa : nice gary..from there
trail it up
[12:32 pm] garyb : sometimes I buy…….the
stock goes up…I put my stop at where I
bought it and let it ride for the day
[12:33 pm] mikewd2 -: wow, i’m up 0.60 on
DIG, guess i should dump
[12:33 pm] joeytsa : gotya[12:33 pm] garyb
: that’s if I have meetings or won’t be
around…sometimes I do much better!
lol[12:36 pm] mikewd2 -: right, closed out
the swing
[12:36 pm] mikewd2 -: out of DIG, turned a
swing trade into a day is that bad?
[12:36 pm] joeytsa : into a day trade or
closed out a swing?
[12:37 pm] mikewd2 -: will look for better
price for “real” swing over next few days
[12:37 pm] joeytsa : good idea if you
thought the swing was over? you got me
haha[12:37 pm] garyb : Mike….I’m being
very careful these days with the swings.
Like Mitch says, we have to be patient
[12:38 pm] mikewd2 -: nice one garyb[12:38
pm] joeytsa : haha[12:38 pm] garyb : I
think once this Europe crap is dealt with we
will se a bit of a rally….but that is just
my 2 cents (with a stop on 1 cent) lol[12:42
pm] derns : Mitch…over the next week or
so?
[12:43 pm] garyb : wow Mitch…so you think
we will be in this volatile market for a bit?
On the downtrend
[12:43 pm] derns : Maybe early now, but what
your thots on a swing for TZA?
[12:44 pm] mikewd2 -: i thought we would sell
off this afternoon.
[12:44 pm] garyb : me too
[12:45 pm] mikewd2 -: yeah and DIG
[12:45 pm] mikewd2 -: looking at selling SLB,
its up now
[12:45 pm] garyb : sometimes that hurts
almost as bad as taking a loss
[12:45 pm] garyb : I guess we should have
held on to the TNA huh mike? lol[12:45 pm]
doji : Sell off at 15:45?
[12:46 pm] storage : sold my tna too but
money in acct. may be gap down
[12:47 pm] swingtrader : gary are you long
on TNA swing
[12:47 pm] storage : the market is never
wrong
[12:47 pm] mikewd2 -: DJI up for today
[12:47 pm] garyb : no Itacher…sold way too
early
[12:47 pm] doji : Markets will close in
green, unbelievable
[12:48 pm] swingtrader : The Market are
never wrong
[12:49 pm] storage : I am learning and
making money thank you guys
[12:49 pm] sonorant : Okay, I think I can
explain the problem of holding the leveraged
ETFs long term — when they go down.
[12:49 pm] derns : Kris…an academic
question for you…do you think the markets
would all be better off by allowing Greece to
default?
[12:51 pm] sonorant : Suppose you have a 3x
leveraged ETF that is at $40. And suppose it
is based on underlyiing stocks worth $100.
Then suppose the underlying stocks go up 25%
— to $125. The ETF will zoom up 75% to
$70, right?
[12:51 pm] mikewd2 -: right sonorant
[12:51 pm] Kris : Better off for longs or for
trading in general Derns?
[12:51 pm] garyb : Yahoo’s headline
now…… Greece Default Risk Hits 98%-
[12:51 pm] derns : ok..you got me! For
longs…better; trading…worse…is that
correct?
[12:52 pm] sonorant : But now suppose the
stocks come down 20% — back to the original
$100. The ETF will come down 60%. But 60%
of $70 is $42, so the ETF will come back
down to $38. The stocks ended up where
they started, and the ETF ended up below
where it began.
[12:52 pm] mikewd2 -: SLB approaching
hod[12:52 pm] Kris : For me it’s whatever
brings the most volatility. I’m not biased
one way or the other. I just want volume and
greed/fear fluctuations.
[12:53 pm] sonorant : So holding a leveraged
ETF through many up and down fluctuations
over time can hurt you more than you would
expect.
[12:53 pm] Kris : This summer was 20 times
better than last summer.
[12:53 pm] Kris : I love this volatility, all
summer long.
[12:53 pm] joeytsa : yeah it’s been one heck
of a summer kris[12:53 pm] joeytsa : great
day guys and gals…have a good one !!
[12:53 pm] garyb : yes doji…..sadly we
did
[12:53 pm] doji : Did we all miss TNA rally?
We’llsee tomorrow
[12:53 pm] derns : Then you like this
environment! VIX dominiated[12:54 pm] rusty
:
http://my.jetscreenshot.com/demo/20110912-ft2
r-150kb.jpg
[12:54 pm] mikewd2 -: sorry up 1
[12:54 pm] mikewd2 -: out SLB up $2,
unreal
[12:54 pm] joeytsa : rock it mike !!!
[12:54 pm] joeytsa : best summer i can ever
remember actually
[12:55 pm] sonorant : Sorry, bad
subtraction. It is worse than I thought.
The ETF will come down to $28
[12:59 pm] swingtrader : Good Night all see
you all tomorrow good trading good calls Kris
Mitch Brent
[12:59 pm] doji : Good night guys… not a
good day, QCOR ate my profits….
[01:00 pm] lisas : Night all, thanks Mitch,
Kris, Brent, room members for great calls!
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