[06:15 am] Brent : Brent : good morning
[06:16 am] Kris : Kris : Good Morning
Traders
[06:16 am] Kris : Kris : This morning I’m
watching AZPN, ROST, VRUS, MGM, ICON and HME
on the long side
[06:17 am] Kris : Kris : Do we have any new
members in the room today?
[06:17 am] Kris : Kris : JNPR, OVTI, TNE,
TKC, MCP and SPRD on the short side.
[06:18 am] Kris : Kris : Welcome to the room
badboy[06:19 am] Kris : Kris : If I post
“long” or “short” along with the system that
means I’m entering the trade. If I say I’m
watching something it’s just a heads up alert
for an upcoming trade entry.
[06:21 am] Kris : Kris : no eyes, it’s a good
area if you don’t know where you should have
your stop.
[06:22 am] Kris : Kris : then don’t do it
[06:28 am] Kris : Kris : 2 minutes to the
open
[06:29 am] Mitch K: Mitch King: the markets
were sharply down in EUrope and Asia as well
as the US premarket futures until China makes
a statement that they have confidence in the
Euro.
[06:30 am] Kris : Kris : QCOM long
[06:30 am] Mitch K: Mitch King: My take on
today’s market action is we should see
excellent long and especially short scalps
[06:31 am] Kris : Kris : NFLX short
[06:33 am] Kris : Kris : ESRX long half
[06:34 am] Kris : Kris : out half NFLX
short
[06:34 am] Kris : Kris : TEVA short half
[06:36 am] Kris : Kris : LULU short half
[06:36 am] Kris : Kris : out another 1/4
NFLX
[06:37 am] Brent : Brent : watching HBI for a
bounce
[06:37 am] Kris : Kris : watching JCP for a
long
[06:37 am] Mitch K: Mitch King: MCP
bouncing
[06:38 am] Kris : Kris : ESRX holding up well
against the selling, looking for a new hod
breakout on a market bounce.
[06:39 am] Kris : Kris : MCP weak bounce so
far, look for another new lod[06:39 am] Kris
: Kris : out half LULU short
[06:39 am] Kris : Kris : still getting
sellers coming in here
[06:40 am] Brent : Brent : watching HLS for a
bounce
[06:40 am] Kris : Kris : NFLX still looking
sickly
[06:41 am] Brent : Brent : if you got HBI
consider reducing
[06:41 am] Kris : Kris : MCP broke new
lod[06:41 am] Kris : Kris : SPY should find
some support soon, keep an eye on these
shorts.
[06:42 am] Kris : Kris : start to scan for a
few select long setups
[06:42 am] Kris : Kris : watching ADSK for a
long
[06:43 am] Kris : Kris : I would take some
profit and leave yourself half or less
calvary[06:43 am] Kris : Kris : move down
your stop to just over BE on the rest and see
if you can get another new low calvary.
[06:43 am] Mitch K: Mitch King: consider HLS
long
[06:43 am] Mitch K: Mitch King: no bounce in
indexes yet
[06:44 am] Kris : Kris : drop NFLX drop you
pig
[06:44 am] Kris : Kris : NFLX new lod[06:44
am] Kris : Kris : watching ZAGG for a long
[06:45 am] Kris : Kris : out half TEVA short,
lagging a little
[06:46 am] Kris : Kris : CRM short half
[06:46 am] Kris : Kris : lots of red
[06:46 am] Kris : Kris : no support yet
[06:46 am] Mitch K: Mitch King: good short on
CBST, late to see
[06:47 am] Kris : Kris : start watching TNA
for long
[06:48 am] Brent : Brent : consider reducing
more HBI
[06:48 am] Kris : Kris : also keep your eye
on stocks that have held their hod on this
sell off
[06:48 am] Kris : Kris : die MCP die
[06:48 am] Kris : Kris : like ARUN
[06:48 am] Kris : Kris : MCP new lod[06:48
am] Kris : Kris : they should stay strong
[06:49 am] Kris : Kris : look to take a
little more off your MCP short calvary and
bump your stop down again.
[06:49 am] Kris : Kris : when it slows down
let me know what platform you’re using
calvary.
[06:50 am] Kris : Kris : watching FFIV for a
long bounce off support around 80.50
[06:52 am] Kris : Kris : so we have ARUN and
SPRD as possible longs if/when we find market
support
[06:52 am] Kris : Kris : SPRD looking strong
against the selling
[06:53 am] Kris : Kris : I would stay small
until we find market support to assist
[06:53 am] Kris : Kris : MCP should give a
tradable bounce
[06:54 am] Kris : Kris : daddy likey
overreactions
[06:54 am] Kris : Kris : TNA long small
position
[06:55 am] Kris : Kris : a little early for
SPRD long for me here,
[06:55 am] Kris : Kris : gonna stay
patient
[06:55 am] Kris : Kris : will take ARUN long
on the new hod[06:56 am] Kris : Kris : GR
ALERT
[06:56 am] Kris : Kris : GR ALERT
[06:56 am] Kris : Kris : JAZZ long half
[06:56 am] Kris : Kris : see if the buyers
can come back
[06:56 am] Kris : Kris : starting to see more
green now
[06:57 am] Kris : Kris : out half JAZZ
long
[06:58 am] Kris : Kris : will look to add to
JAZZ on a pullback, it’s breakout on daily
today
[06:59 am] Kris : Kris : come on buyers, you
can do it
[06:59 am] Kris : Kris : damn, too some off
JAZZ too early, not pulling back yet.
[07:00 am] Kris : Kris : out half TNA long
[07:00 am] Kris : Kris : you in ARUN
qwert?
[07:01 am] Kris : Kris : out another 1/4 TNA
long
[07:01 am] Kris : Kris : TNA who’s your
daddy
[07:02 am] Kris : Kris : more buyers coming
across the board
[07:02 am] Mitch K: Mitch King: the 07:16am
post is bogus and not from today
[07:03 am] Kris : Kris : sitting on last
piece of TNA, gonna try to ride it through
hod[07:04 am] Kris : Kris : BIIB long half
[07:04 am] Mitch K: Mitch King: WPI should
give another good short, missed the first
one
[07:06 am] Kris : Kris : ok, now watch this
top in SPY, how it acts here will be
important
[07:07 am] Kris : Kris : GMCR long over 114
as breakout candidate.
[07:08 am] Kris : Kris : JAZZ new hod[07:08
am] Mitch K: Mitch King: watching for short
in TUP
[07:09 am] Kris : Kris : I’m looking for
stocks that didn’t bounce with the last move
up
[07:09 am] Kris : Kris : just keeping ideas
in my pocket for a breakdown.
[07:09 am] Kris : Kris : so that if the spy
fails the lod, I’ll be taking those short
[07:09 am] Kris : Kris : yes, NFLX and MCP
[07:10 am] Kris : Kris : both have fleas
[07:10 am] Kris : Kris : good one joey
[07:10 am] Kris : Kris : SPRD staying
strong
[07:11 am] Kris : Kris : BIDU looking strong
today too
[07:11 am] Kris : Kris : nobody wants to pet
them
[07:12 am] Kris : Kris : FSLR short half
position
[07:12 am] Kris : Kris : JAZZ
consolidating
[07:13 am] Kris : Kris : buyers trying to
hold us up here
[07:13 am] Kris : Kris : see if they have the
mustard
[07:13 am] Kris : Kris : that would be one
I’d like to add to soon on the long side if
we hold support
[07:14 am] Kris : Kris : I still have a small
piece of JAZZ but I want more if we hold
support in the markets joey.
[07:14 am] Kris : Kris : out half FSLR, take
some small profit and protect myself here
[07:15 am] Kris : Kris : it’s start to get
ahead of itself a little now
[07:15 am] Kris : Kris : ok, watching BIDU
for a short reversal
[07:15 am] Kris : Kris : out half ESRX
long
[07:16 am] Kris : Kris : getting more green
coming across the board, watch that trendline
resistance.
[07:16 am] Kris : Kris : JAZZ making a nice
flag
[07:16 am] Kris : Kris : MCP making a rounded
bottom
[07:16 am] Kris : Kris : start small,
[07:16 am] Kris : Kris : yes, you can eyes
[07:18 am] Kris : Kris : BIIB trying for
hod[07:18 am] Kris : Kris : no, I started
with half early cause I wasn’t sure about
market direction and wanted to add on a pull
back. I had my stop a little lower than
usual but it wasn’t that much more than 1%.
you guys need to make sure you check past
highs/lows/consolidation to protect your
stops.
[07:19 am] Kris : Kris : BIDU starting to run
into it at 150, be patient on the turn.
[07:19 am] Kris : Kris : remind me later when
it slows down anthony[07:19 am] Mitch K:
Mitch King: should be stopped or have covered
on WPI last short; look for 3rd short
again
[07:20 am] Kris : Kris : SPY moving over
resistance, could see a test of hod[07:20 am]
Kris : Kris : still have that piece of TNA
[07:21 am] Kris : Kris : gonna be a slow one
eyes
[07:21 am] Kris : Kris : me likey JAZZ
consolidation
[07:21 am] Kris : Kris : rounded bottoms are
slow rollers but they pick up steam later in
the morning and they’re easy pickins[07:22
am] Kris : Kris : stay small, you’re gonna
get another test of the lows
[07:22 am] Kris : Kris : stop at 44.36
eyes
[07:23 am] Kris : Kris : if it holds, then
add another small piece
[07:23 am] Kris : Kris : you want to see that
round up on the chart
[07:24 am] Kris : Kris : GMCR breaking 114,
don’t chase it here if you missed
[07:24 am] Kris : Kris : look for a pullback
and hold of 114
[07:25 am] Kris : Kris : out another 1/4 ESRX
long
[07:26 am] Kris : Kris : can’t a guy have a
good day
[07:26 am] Kris : Kris : come on BIIB, move
your ass
[07:26 am] Kris : Kris : what the heck?
[07:27 am] Kris : Kris : I’m excited for the
webinar
[07:27 am] Kris : Kris : that’s why you stay
small eyes
[07:27 am] Kris : Kris : vwap support around
45.20
[07:27 am] Kris : Kris : yes I’m watching
JAZZ
[07:28 am] Kris : Kris : good mental stop
eyes
[07:29 am] Kris : Kris : out all ESRX long
[07:29 am] Kris : Kris : SPY new hod[07:29
am] Mitch K: Mitch King: EW worth a short
[07:30 am] Kris : Kris : GMCR moving up
[07:30 am] Kris : Kris : you think I’m out
too quick shark?
[07:30 am] Mitch K: Mitch King: watching REXX
for short
[07:31 am] Kris : Kris : did anyone get it
over 114?
[07:31 am] Kris : Kris : YOKU looking sickly
again today
[07:32 am] Kris : Kris : out half BIIB,
moving up stop on last small piece.
[07:33 am] Kris : Kris : ADS coming into 100
resistance
[07:33 am] Kris : Kris : watching ADS for a
short reversal
[07:34 am] Kris : Kris : FSLR new lows
[07:35 am] Kris : Kris : ok, adding small
long jazz here
[07:35 am] Kris : Kris : still seeing
buyers
[07:36 am] Kris : Kris : I used to try and
talk nice to them but that never worked.
[07:36 am] Kris : Kris : lol joey, thanks for
the update
[07:36 am] Kris : Kris : paid with my soul
[07:37 am] Brent : Brent : watching ADS for a
short
[07:37 am] Kris : Kris : the event is already
paid in full
[07:39 am] Brent : Brent : ADS short half
[07:41 am] Brent : Brent : 99.65 sorry
[07:41 am] Brent : Brent : first target 90.65
on ADS
[07:41 am] Kris : Kris : 48.88 was my
average
[07:41 am] Kris : Kris : I had orders just
under 49.00
[07:41 am] Kris : Kris : JAZZ must be moving
up
[07:41 am] Kris : Kris : nice
[07:41 am] Mitch K: Mitch King: GMCR toppy
[07:41 am] Mitch K: Mitch King: watching OPEN
for short
[07:42 am] Kris : Kris : JAZZ making new hod,
should have a little more push
[07:42 am] Kris : Kris : out half JAZZ
long
[07:42 am] Kris : Kris : plus it failed
50.00
[07:42 am] Kris : Kris : the more factors you
have in your favor the higher the probs[07:43
am] Kris : Kris : which stock rusty?
[07:44 am] Kris : Kris : but this is looking
trendy
[07:44 am] Kris : Kris : no short on JAZZ
[07:44 am] Kris : Kris : then I might take a
short on it
[07:44 am] Kris : Kris : well, unless it runs
3% from here in the next 15-20 minutes
[07:46 am] Kris : Kris : just something to
keep your eye on. I would go small if I
trade it.
[07:46 am] Kris : Kris : TSPT consolidating
for a move higher
[07:47 am] Kris : Kris : watch ADS at 100.00,
needs to lose that number.
[07:48 am] Kris : Kris : strong day, still
more buyers coming in
[07:48 am] Kris : Kris : we should get a top
in the market soon, not a bad time to start
looking at TZA
[07:49 am] Kris : Kris : be patient on
entering TZA, buyers just not letting up yet
but slowing.
[07:52 am] Kris : Kris : I’m flat. waiting
to see what we get in the next 10 minutes
[07:52 am] Kris : Kris : it’s run its course
for me here. market a little top heavy
here
[07:52 am] Kris : Kris : no, I’m all out JAZZ
neuronx[07:53 am] Brent : Brent : careful
with ADS here, needs to break 100 soon
[07:55 am] Kris : Kris : great job
ronfrac[07:55 am] Kris : Kris : we could have
one more run up in TNA from this
consolidation that’s building but I’m not
sure how much more upside we could have for
profit potential.
[07:56 am] Kris : Kris : enjoy the day
[07:56 am] Kris : Kris : it’s cloudy here so
I might as well keep trading.
[07:57 am] Kris : Kris : FFIV weak
[07:57 am] Kris : Kris : market top could
help hold down a bounce in ADS long off
100.00, keep it pinned down.
[07:58 am] Kris : Kris : it should come back
doji[07:59 am] Brent : Brent : I’m taking
half off ADS here and tightening my stop
[07:59 am] Kris : Kris : FAST breaking out
but I’m gonna pass here
[08:01 am] Kris : Kris : could be some good
upside in LULU from here
[08:01 am] Kris : Kris : good eye qwert,
holding that trendline well.
[08:01 am] Kris : Kris : LULU breaking out
[08:02 am] Kris : Kris : both FAST and the
market a little top heavy, guess it was work
the risk, just didn’t see much more than .30
in it to the long side before losing steam
[08:03 am] Kris : Kris : SINA crapping it’s
pantsuit
[08:03 am] Kris : Kris : watching SINA for a
long soon
[08:04 am] Kris : Kris : sounds like a good
investment shark
[08:05 am] Kris : Kris : SPY coming into 122
resistance
[08:06 am] Kris : Kris : watch that trendline
support on SPY for a break to the
downside.
[08:07 am] Kris : Kris : SINA should give a
good long
[08:08 am] Kris : Kris : from the bounce you
can watch it to see how strong the bounce
is
[08:08 am] Kris : Kris : if you missed the
short, I wouldn’t chase sonorant. SINA has
moved enough to give a tradable bounce
[08:09 am] Kris : Kris : a strong bounce and
you’re good to go, a weak bounce means more
lows on the way if it can break through
lod.
[08:09 am] Kris : Kris : if it fizzles I
would take small profit or get out BE and
then watch for a new lod breakdown
[08:10 am] Kris : Kris : SINA long small
position
[08:10 am] Kris : Kris : The Golden Burrito
with Wings
[08:12 am] Kris : Kris : have an exit order
for half of SINA at 99.77
[08:12 am] Kris : Kris : out half SINA
[08:12 am] Kris : Kris : then I’ll see if she
can push over 100.00
[08:13 am] Kris : Kris : holding last 1/4
with stop at BE, looking for 101.97
[08:13 am] Kris : Kris : out 1/4 SINA
[08:14 am] Kris : Kris : acting like she
wants to bust 122
[08:14 am] Kris : Kris : breakout could help
this SINA long
[08:14 am] Kris : Kris : here comes 102
[08:14 am] Kris : Kris : SPY holding up
again, no shift from buyers to sellers yet
[08:15 am] Kris : Kris : out all SINA long
[08:16 am] Kris : Kris : DANG and YOKU have
the bird flu
[08:16 am] Kris : Kris : for those with more
patience than I have
[08:16 am] Kris : Kris : watch SINA for how
it pulls back here, if it stays tight could
move up into 103.50 area.
[08:17 am] Kris : Kris : depends on the
strategy shark, most times it’s between 1 and
2% based on past S/R/C
[08:18 am] Kris : Kris : LULU trying for new
high
[08:19 am] Kris : Kris : ADS looking good
bertie[08:19 am] Mitch K: Mitch King: see
here where OPEN won’t get much below 52.20?
that’s when I cover on a short and move on to
another stock idea.
[08:20 am] Brent : Brent : looking better
[08:20 am] Mitch K: Mitch King: ok, that’s
first down candle below 52.20 on OPEN for
18-20 minutes
[08:20 am] Mitch K: Mitch King: there is a
balance between rotating your money too much
and hanging in with a stock short that isn’t
moving down anymore
[08:21 am] Kris : Kris : TZA moving up
[08:21 am] Mitch K: Mitch King: you are funny
today Kris
[08:22 am] Mitch K: Mitch King: let me show
you a different look on this chart, OPEN
[08:23 am] Mitch K: Mitch King: this chart
shows me yesterday and today. it isnt the
best charting but i am so used to it, I have
become dependent on it
[08:24 am] Kris : Kris : MNTA giving it up
again today
[08:24 am] Mitch K: Mitch King: basically I
use this etrade for pattern recognition, but
it is whatever you get used to over a period
of time.
[08:26 am] Brent : Brent : out another 1/4
ADS
[08:27 am] Mitch K: Mitch King: should have a
short in this rebound of SINA
[08:42 am] Mitch K: Mitch King: same thing
with SINA, when it goes sideways for this
long, I cover short
[08:47 am] Brent : Brent : taking a little
more off ADS here, gonna trail the rest
down
[08:48 am] Mitch K: Mitch King: I’m showing
OPEN as a follow-up, not as a recommendation
or suggestion to trade it
[08:50 am] Mitch K: Mitch King: we talked
about this yesterday or maybe it was Friday
that I like these kind of charts that are a
slow drift downward. and you can hedge your
bets by closing your shorts in increments at
buy signals or consolidation that we see in
OPEN. I think GMCR is acting the same way
but with more volatility than ADS
[09:05 am] Mitch K: Mitch King: lower low on
ADS
[09:15 am] Mitch K: Mitch King: very typical
to see the 2nd short on OPEN like this chart
shows
[09:17 am] Kris : Kris : I may take PLCM
short on a weak bounce, add on a new lod,
support at 21.50 then 21.10. slow short
play.
[09:21 am] Mitch K: Mitch King: important
price level for SINA, if goes down below
102, could easily break down to $100 area
[09:23 am] Mitch K: Mitch King: you guys see
Greenspan is at the FOMC meeting this
morning?
[09:29 am] Kris : Kris : could just be
trending down into that 21.50/21.10 support
levels.
[09:29 am] Kris : Kris : I was hoping for a
little more sustained mini bounce first qwert
before this new low
[09:30 am] Kris : Kris : I’ll look to add on
a small bounce
[09:30 am] Kris : Kris : me too
[09:38 am] Mitch K: Mitch King: since it is
FOMC meeting day, it is always slow, volume
drops off, people are waiting for news or
information
[09:39 am] Kris : Kris : good man
[09:39 am] Kris : Kris : start looking here
in this area if you still have it
[09:39 am] Kris : Kris : you take profit yet
qwert?
[09:47 am] Mitch K: Mitch King: watching GR
on a 1 min chart, might be a short in it
[09:53 am] Mitch K: Mitch King: here is SINA
on the right, did anyone short this
[09:53 am] Mitch K: Mitch King: or GR?
[09:56 am] Kris : Kris : SPY building some
nice consolidation under 122.
[10:03 am] Kris : Kris : MCP is one of those
stocks that have enough money in small trades
to make it worth a quickie.
[10:03 am] Kris : Kris : SFSF taking off
[10:06 am] Kris : Kris : accelerating price
and volume on ILMN, just not quite enough
money yet for me. might be worth a small
position.
[10:06 am] Kris : Kris : ILMN selling off
[10:06 am] Kris : Kris : watch ILMN for a
long soon
[10:08 am] Kris : Kris : I’ll call it when I
enter ILMN on the long side
[10:11 am] Kris : Kris : if it consolidates
near the lod it might be something to
consider short on a new lod.
[10:11 am] Kris : Kris : if you plan I taking
SINA long I would wait for confirmation with
a break of the overhead trendline
resistance.
[10:11 am] Kris : Kris : stay flexible
[10:12 am] Kris : Kris : ILMN long half
position
[10:12 am] Kris : Kris : watching MCP for a
long soon
[10:12 am] Mitch K: Mitch King: important
area for SINA, this 95.20 area that was the
low for the day so far
[10:13 am] Mitch K: Mitch King: i would think
we are going to get a bounce on this stock at
some point. use the chart and indicators for
buy signal
[10:15 am] Kris : Kris : looking to add
second half here soon.
[10:15 am] Kris : Kris : stop ILMN under
44.57
[10:15 am] Kris : Kris : tough spot, SPY at
resistance, we need a break to help this ILMN
long
[10:17 am] Kris : Kris : stopped out ILMN
[10:17 am] Kris : Kris : will re-enter this,
just going to be patient.
[10:20 am] Kris : Kris : long half ILMN,
second attempt
[10:21 am] Kris : Kris : NFLX new lod[10:21
am] Kris : Kris : thanks for the update
doji[10:22 am] Kris : Kris : almost
overnight
[10:22 am] Kris : Kris : just teasing you
doji[10:22 am] Kris : Kris : lol[10:22 am]
Kris : Kris : went from being loved to being
hated
[10:22 am] Mitch K: Mitch King: looking for
another bounce on SINA
[10:24 am] Kris : Kris : 44.24 ronfrac,
looking to add here soon.
[10:26 am] Kris : Kris : long second half
ILMN
[10:27 am] Kris : Kris : looking for 45.47
first target ILMN long
[10:27 am] Kris : Kris : MCP starting to move
up
[10:28 am] Kris : Kris : I have a small long
in MCP
[10:29 am] Brent : Brent : SPY looking to
test 122 again
[10:29 am] Kris : Kris : ARUN good example of
strong stocks that disregard market selling.
just keep trending up.
[10:30 am] Kris : Kris : if you get .40 on
MCP, take some off, bump stop and see if it
can teste 43.70
[10:31 am] Kris : Kris : also watch TNA
[10:31 am] Kris : Kris : could be a nice long
on the breakout
[10:31 am] Kris : Kris : we get a break over
122 in the SPY and it could help our longs
[10:34 am] Kris : Kris : NEM monster breakout
day
[10:34 am] Mitch K: Mitch King: higher high
on SINA
[10:35 am] Mitch K: Mitch King: anyone trade
this long, SINA?
[10:36 am] Mitch K: Mitch King: just because
the stock hits the target price area as i
show in the blue line does not mean it is
ready to sell
[10:37 am] Kris : Kris : SINA atm machine
today
[10:37 am] Mitch K: Mitch King: but i get a
little more eager to sell when it approaches
a target
[10:37 am] Mitch K: Mitch King: watching
CSTR
[10:39 am] Mitch K: Mitch King: SINA still
good, note that this is a 1 min chart i show
on the right for SINA. my take on this is
you should see a pullback, then another
attempt later to move to higher highs but i
like to take my profits on this first move
up
[10:40 am] Kris : Kris : ILMN needs to move
over that previous high resistance just over
45.00
[10:40 am] Kris : Kris : we’re getting
another round of selling in the SPY down from
resistance level around 122
[10:40 am] Mitch K: Mitch King: i also like
to gradually sell in increments at the offer
price or higher if it is moving up
strongly
[10:40 am] Mitch K: Mitch King: remember it
has gone down a lot from 111 high to 96 area
low so it has a lot of selling pressure on
it
[10:41 am] Mitch K: Mitch King: right
candles, that’s how you do it
[10:42 am] Mitch K: Mitch King: also have
common sense when you are trading, which I
know sometimes leaves our brains occasionally
but SINA just did move over 3% up on a stock
that has dropped 14% down today.
[10:42 am] Mitch K: Mitch King: now how i
play this right now, on this candle up here,
i get ready to sell the remaining long and if
it fails or turns over at all below the
previous high 4 min ago, i close
[10:43 am] Kris : Kris : OPEN breaking down
under support
[10:44 am] Kris : Kris : ILMN at
resistance
[10:44 am] Kris : Kris : ILMN out half
[10:44 am] Kris : Kris : out half long
[10:44 am] Mitch K: Mitch King: so now where
does SINA likely go? i show you
[10:45 am] Mitch K: Mitch King: let me change
to 1 min chart
[10:45 am] Mitch K: Mitch King: watch CSTR,
starting to move
[10:46 am] Kris : Kris : stop at 44.76 on
second half ILMN long, needs to break through
here or it will probably test the lows
again.
[10:47 am] Mitch K: Mitch King: if I
remember
[10:47 am] Mitch K: Mitch King: My take on
CSTR is it will fail quickly like a down
elevator
[10:47 am] Mitch K: Mitch King: that comment
i just made was a chart pattern
recognition
[10:47 am] Mitch K: Mitch King: was based on
experience, I explain later
[10:48 am] Mitch K: Mitch King: don’t get
frantic or in a hurry about grabbing $100
bills on the ground right now, you make more
money having a system, like steady working a
shopvac without being panicky
[10:49 am] Kris : Kris : if you’re ahead on
JAZZ and still have some it could be a decent
3 day swing trade into friday. might
consider keeping a small piece. “small
piece”. yes, I said small piece.
[10:49 am] Kris : Kris : SPY still holding
the lows of that consolidation area.
[10:49 am] Mitch K: Mitch King: the more this
goes up, the better short on the top of this
bounce will be
[10:49 am] Mitch K: Mitch King: which looks
like right here is top, soon
[10:50 am] Mitch K: Mitch King: no hurry to
get long back into SINA, will take a while to
work itself out and make a move upward
[10:51 am] Kris : Kris : you still have that
too lara?
[10:52 am] Mitch K: Mitch King: so now, the
psychology, you are probably done with CSTR,
go take a bathroom break, drink water, eat,
walk around. Don’t be thinking you have to
conquer. not good time to have high
testosterone levels now. meaning not good
idea to be super aggressive. positive
thoughts. not telling yourself about what
you could have, should have, or that someone
else got more. just keep the shopvac in good
working order
[10:53 am] Kris : Kris : finally a bathroom
break!
[10:53 am] Mitch K: Mitch King: now, the big
problem, that most of you seem to have, just
guessing………. is you well, hmm, thinking
how to say this nicely
[10:54 am] Kris : Kris : full
[10:54 am] Kris : Kris : still riding this
half of ILMN
[10:54 am] Kris : Kris : you asked..
lol[10:55 am] Kris : Kris : CSTR, nice 3min
fade
[10:55 am] Kris : Kris : I missed that one
[10:56 am] Kris : Kris : and he’s better at
it than me
[10:56 am] Kris : Kris : Brent will be
teaching it in the webinar coming up this
week.
[10:56 am] Kris : Kris : it’s one of my
strategies sonorant.
[10:56 am] Kris : Kris : the teacup ride
[10:57 am] Kris : Kris : just based on the
money to support level and how the market is
today.
[10:57 am] Kris : Kris : not for me
sonorant.
[10:57 am] Kris : Kris : what’s your question
doji?
[10:58 am] Kris : Kris : gotcha, the lack of
money to the short side.
[10:58 am] Kris : Kris : my average on ILMN
long is .75
[10:58 am] Kris : Kris : probably is what
answered that for CSTR short.
[10:59 am] Kris : Kris : have a half size
position left in it, seeing if it can push
through here dan.[10:59 am] Mitch K: Mitch
King: but you get paid big bucks if you keep
tracking most of the same stocks
[10:59 am] Mitch K: Mitch King: I’m guessing
that most of you don’t have a very long
attention span. you guys want more stock
ideas, faster and faster and your minds might
get bored when you aren’t in a trade. so you
forget about stocks that we were watching
earlier and they often, very often give
another trade. take SINA for example, was a
long for a while then monitor for a short
comment was made but no obvious signal yet
for like 35 minutes from 1125am eastern to
around noon
[11:00 am] Mitch K: Mitch King: CSTR turning
over soon
[11:00 am] Mitch K: Mitch King: id say
there’s 50-60 cents in CSTR on the short
side
[11:04 am] Mitch K: Mitch King: Chinese man
say, “No touchy Sina now”
[11:05 am] Mitch K: Mitch King: SINA going
down with the indexes
[11:08 am] Kris : Kris : buyers coming in
heavy here
[11:08 am] Kris : Kris : SPY trying to test
resistance again
[11:08 am] Mitch K: Mitch King: buy program
on indexes last 2 min
[11:20 am] Kris : Kris : we’re getting late
in the day but set at alert just over lod in
SINA, could give a nice pop to the short side
on a break with these lower highs into
support.
[11:21 am] Mitch K: Mitch King: thoughts on
CSTR qwert, is still monitor for short, might
be starting here
[11:24 am] Kris : Kris : and set an alert on
the SPY over the hod, we break 122 and all
bets could be off for the shorts.
[11:24 am] Kris : Kris : remember it’s late
in the day, so keep your eye on the clock if
you get the alert to the short side. I would
like at least 45 minutes before the close if
I take it and I’ll probably stay a little
smaller on it.
[11:32 am] Kris : Kris : break time, be back
in 30
[12:17 pm] Mitch K: Mitch King: did anyone
short CSTR?:
[12:38 pm] Kris : Kris : I’m back
[12:39 pm] Kris : Kris : SINA nice short on
the new lod breakdown
[12:40 pm] Kris : Kris : anyone get that?
[12:41 pm] Kris : Kris : good job guys!
[01:00 pm] Kris : Kris : Good Night Everyone!
Awesome job today. see you all tomorrow.
[01:01 pm] Brent : Brent : have a good night,
see you in the am
|
[06:04 am] mikewd2 -: NFLX – JP MORGAN
REITERATES OVERWEIGHT
[06:05 am] joeytsa : reports : building
permits .62M with .60 forecast, housing
starts .57m with .59m forecast…
[06:08 am] mikewd2 -: shorted XLNX premarket
31.2
[06:09 am] randall : mcp down over 5%
[06:09 am] joeytsa : gap ups:
AAPL,PANL,SINA
[06:10 am] joeytsa : MLNX down also
[06:10 am] joeytsa : gap down :
NFLX,MCP,AZO,AGQ
[06:11 am] mikewd2 -: negative news on revs,
etc by company
[06:11 am] joeytsa : hey mike, what made you
short XLNX?
[06:12 am] joeytsa : news play..gotya[06:13
am] joeytsa : they report on 10/19
[06:13 am] mikewd2 -: day
[06:13 am] joeytsa : day trade or hold if
you don’t mind my asking?
[06:14 am] mikewd2 -: seems lately when tech
stocks post lower expectations they get
hit
[06:14 am] mikewd2 -: but we will see
[06:14 am] joeytsa : yeah, don’t see too
many shoot higher with bad earnings
[06:18 am] badboy : my second day….liked
yesterday
[06:20 am] joeytsa : AZO profits climbing
12%..gapping down
[06:21 am] eyes-inthenow : Kris you use a 1
percent stop on all trades
[06:25 am] joeytsa : i love earnings
season…tons of great plays
[06:28 am] joeytsa : really looking forward
to the webinar series
[06:28 am] apple : me, too – it will be
fun
[06:29 am] joeytsa : LVS dropping already
[06:32 am] joeytsa : MCP dropping
[06:33 am] joeytsa : BIDU watch
[06:36 am] zentrader : S JNPR 19.92
[06:36 am] scalpman : Stopped pm QCOM
[06:36 am] joeytsa : still dropping
[06:36 am] joeytsa : SINA gap closed 🙂
[06:38 am] joeytsa : PANL closed gap also
[06:39 am] joeytsa : those 2 worked perfect
today
[06:40 am] shark : nice on LULU, Kris
[06:40 am] mhaus : CBST
[06:40 am] joeytsa : the ES broke below
1200
[06:42 am] calvary : got mcp at 47.88 short
should I cover?
[06:44 am] shark : NFLX new lod[06:44 am]
calvary : ok, thx
[06:45 am] zentrader : L HLS 15.49
[06:47 am] shark : AAPL hod[06:47 am]
joeytsa : MOS lod[06:48 am] zentrader :
stopped out HLS
[06:48 am] joeytsa : AAPL is a monster
[06:49 am] shark : amazing MCP drop
[06:49 am] joeytsa : trailing MCP
[06:49 am] calvary : using scottrade[06:49
am] calvary : qcom still falling do I get
out?
[06:50 am] shark : your short calvary:
MCP?
[06:50 am] mikewd2 -: calvary, MCP was a
short
[06:50 am] mhaus : hls stopped out
[06:50 am] calvary : down $1500
[06:50 am] calvary : 1700
[06:51 am] shark : you went long?
[06:51 am] shark : OMG!
[06:51 am] joeytsa : took profits on MCP
[06:51 am] doji : still seeing reds, should
help your shorts
[06:51 am] calvary : yes
[06:51 am] calvary : no, i screwed up
[06:52 am] shark : from a fundamental story,
the downgrade is probably over done.
[06:52 am] shark : but we are trading
technicals in the short term
[06:52 am] joeytsa : CMI lod[06:52 am]
calvary : so how should I exit
[06:53 am] shark : MCP
[06:53 am] joeytsa : on which stock
shark?
[06:53 am] joeytsa : MCP?
[06:53 am] joeytsa : gotya[06:53 am] joeytsa
: gotta love overreactions…one of the few
times we actually have an advantage
[06:53 am] calvary : so where should I try
to exit?
[06:53 am] calvary : i bought at 47.87
[06:54 am] shark : lol – Kris
[06:54 am] joeytsa : pays the mortgage every
month right
[06:54 am] calvary : should I try to hold
out till it hits 47?
[06:54 am] apple : lol[06:55 am] sonorant :
MCP was originally called as a bounce, and
then, there was a regroup where it was called
weak
[06:55 am] shark : watch MCP as it comes
into 21 min, moving averages
[06:55 am] mikewd2 -: JAZZ
[06:55 am] joeytsa : gold stocks starting a
move up?
[06:56 am] sonorant : at this point yes
[06:56 am] sonorant : are you in sim?
[06:56 am] calvary : should I just get
out?
[06:58 am] joeytsa : stopped on ABX, 30cent
profit
[06:59 am] shark : CALVARY, when in doubt,
get out.
[06:59 am] qwert : arun new hod[06:59 am]
joeytsa : decent day, no more
gunslingin’..waiting for a fastball if
anything
[06:59 am] apple : that’s right, shark
[06:59 am] mikewd2 -: got stopped on JAZZ,
1.02 gain
[07:00 am] shark : nice TNA, Kris
[07:01 am] Mitch K: calvary, stop trading.
just sit and observe. and then a start a
process of studying and learning before you
trade. you will lose money if you continue
doing what you are doing
[07:01 am] joeytsa : AGQ just closed gap and
hod[07:02 am] topdogrex : Anyone got on
HLS
[07:02 am] shark : yeah, TNA
[07:02 am] Mitch K: then practice in a
virtual account for at least 90 days before
you use real money
[07:02 am] joeytsa : ES just busted through
1200, banged its head on it a few tiems[07:03
am] joeytsa : ALXN hod[07:04 am] shark :
looks good, TNA, Kris!
[07:04 am] joeytsa : i missed BIDU
[07:05 am] shark : me too, we’ll find
another one joeytsa[07:05 am] shark : it’s a
huge playing field
[07:05 am] junior : thanks for TNA Kris,
also Brent for HLS….you guys rock
[07:05 am] joeytsa : yeah, was watching
other stuff…
[07:05 am] joeytsa : bad mistake though..any
time the market’s rally, those big momentum
stocks usually lead the way
[07:05 am] doji : I made a mistake with my
orders with TNA…
[07:06 am] shark : you are right
joeytsa[07:06 am] shark : LULU moving
[07:06 am] mhaus : EW
[07:06 am] joeytsa : bread&butter:
BIDU,SINA,PCLN,AAPL etc[07:06 am] doji : I
have marginal profits… wrong entries with
TNA
[07:07 am] shark : GMCR off the bottom
[07:07 am] shark : at all time high area-
GMCR
[07:08 am] shark : GMCR -sticking tight,
yeah
[07:08 am] joeytsa : GMCR using that prev
close like a magnet
[07:08 am] joeytsa : ARBA might be toppy
[07:09 am] shark : that could be NFLX –
Kris
[07:09 am] doji : sprd[07:09 am] candelas :
mcp weak
[07:10 am] shark : fleas – like just
“itching” to move
[07:10 am] neuronx : mcp selling off
[07:10 am] joeytsa : short the dogs
[07:10 am] joeytsa : GR might leg down
[07:10 am] candelas : biiiig time
[07:11 am] joeytsa : yeah BIDU hod[07:13 am]
joeytsa : Jazz on a break above hod?
[07:14 am] shark : BIDU testing $150
resistance
[07:14 am] mikewd2 -: NFLX, providing higher
hi’s, higher lo’s since the bottom
[07:15 am] joeytsa : no such thing as
resistance in an uptrend :)~
[07:16 am] shark : American Flag, right?
[07:16 am] mhaus : Kris, did you reduce your
stop on ESRX? I was stopped out.
[07:16 am] lisas : new high arun[07:16 am]
eyes-inthenow : Any thoughts on Longing MCP
Here
[07:17 am] joeytsa : REGN might try to go
for the gap close
[07:18 am] shark : thx Candelas
[07:18 am] joeytsa : there goes 150 on
BIDU
[07:18 am] candelas : gmcr getting close
[07:19 am] anthonyb : kris, I did not short
MCP, what was the criteria for this short and
at what the entry price/time?
[07:20 am] shark : out TNA at 43.85
[07:20 am] mhaus : TJX
[07:21 am] shark : eyes, MCP historically
can just sit and stay flat from time to
time
[07:21 am] joeytsa : i tracked it for a long
time, found a few things that seemed to
happen over and over
[07:21 am] eyes-inthenow : stubborn MCP
[07:21 am] doji : bidu[07:21 am] apple : it
is the best undoubtedly
[07:22 am] shark : I agree, Kris – MCP
[07:22 am] shark : CMG new hod[07:22 am]
joeytsa : they don’t always work, but when
they do it’s a good feeling
[07:22 am] eyes-inthenow : would your stop
be just below 44.41
[07:22 am] eyes-inthenow : Ok thanks
[07:22 am] apple : GNCR hod[07:23 am] shark
: RUN, RUN CMG
[07:23 am] shark : long 1000 share CMG
[07:23 am] Kris : you got some calls on CMG
shark?
[07:23 am] Kris : The Golden Burrito
[07:23 am] joeytsa : shark, what are you up
to now 150 contracts 🙂
[07:23 am] joeytsa : nice
[07:24 am] shark : a little tastier than an
AAPL – at least right now
[07:24 am] Kris : GMCR breaking out
[07:25 am] joeytsa : yep..and when they
finally run out of steam and taco meat..it
will be a really nice long fall
[07:25 am] eyes-inthenow : I am not in it
Just mentally trading it
[07:25 am] doji : MCP very weak compared to
SPY
[07:26 am] apple : AAPL hod[07:27 am] shark
: SPY at hod[07:27 am] mikewd2 -: are we
watching JAZZ for a long again soon?
[07:27 am] mhaus : GG
[07:27 am] eyes-inthenow : so much for
MCP
[07:28 am] shark : NEXT!
[07:28 am] shark : great job on MCP -eyes,
you followed ALL the rules!!!
[07:28 am] joeytsa : see if they break 60
[07:28 am] joeytsa : PANL gunning higher
[07:29 am] ronfrac : COG New YR HI
[07:29 am] doji : too late Mick
[07:29 am] doji : at least for me
[07:30 am] shark : too quick ESRX out,
Kris
[07:30 am] joeytsa : Mitch: just want to
take time to thank you for this trading
room
[07:30 am] doji : NFLX lod[07:30 am] apple
: yes, thank you, MK
[07:30 am] apple : NFLX lod[07:30 am] apple
: doji, we think alike!
[07:31 am] zentrader : I’ll check in later
everyone. I am still short JNPR and now long
HLS, check in later. have a great morning
[07:31 am] shark : GMCR -very, very nice
volume!!!
[07:32 am] shark : I agree, joeytsa[07:32
am] joeytsa : trading from home can be
“hermit-like”, it’s nice to have a room with
fellow traders bouncing ideas back and
forth..love it here
[07:33 am] skydiver : Well said joey
[07:33 am] shark : you never know, unless
you trial
[07:33 am] neuronx : mcp running down
[07:33 am] joeytsa : that’s why i did the
trial, and signed up…
[07:33 am] joeytsa : smart people in
here..great teachers in Mitch,
Kris,Brent[07:33 am] joeytsa : AAPL hit
420
[07:34 am] shark : Yeah, take that college
fund and open an investing/trading account
[07:34 am] joeytsa : traded for years by
myself..knew some stuff, but have still
learned quite a bit here…
[07:34 am] joeytsa : much better than
wasting time going to college 🙂
[07:34 am] apple : besides, this is a fun
group to be with!
[07:34 am] anthonyb : agree joey, this room
has been a big help to me
[07:35 am] shark : there goes AAPL – leaving
the station
[07:35 am] lisas : biib moving
[07:35 am] joeytsa : haha..love it shark
[07:35 am] joeytsa : go to college, come out
with huge debt and no jobs
[07:35 am] joeytsa : BIIB got the memo from
Kris…ass in gear
[07:35 am] shark : you can pay your parents
back at 1-3% per day
[07:36 am] shark : seems like it might hit
450 by the time they show iphone5
[07:36 am] lisas : and the honeymoon
[07:36 am] joeytsa : it knew you have a
wedding to pay for….
[07:36 am] joeytsa : and will keep paying
for, FOREVER haha[07:37 am] shark : now you
have to buy it back, Kris
[07:37 am] lisas : wait, Kris, you can’t
leave
[07:37 am] lisas : take your computer
[07:37 am] Kris : I’m taking a year off
[07:37 am] Kris : after the wedding
[07:37 am] doji : For some reason my orders
confirmations are delayed…
[07:37 am] apple : nice, lisa… causing
trouble again
[07:37 am] apple : lol. lisa[07:37 am] apple
: K – are you taking time off?
[07:37 am] anthonyb : and babies
[07:38 am] sonorant : Kris, what do you
expect JAZZ to do? short bounce?
[07:38 am] shark : LULU -run, run
[07:38 am] shark : A YEAR, WHAT?
[07:38 am] mhaus : Kris, when is the big
day?
[07:38 am] Kris : it’s a breakout on the
daily, market staying strong
[07:38 am] Kris : I expect JAZZ to move to a
new hod[07:38 am] apple : don’t even joke
like that!!!
[07:38 am] anthonyb : guys, I’m checking
out. 4 for 5 today.Kris, is it a bad time to
ask about The entry on MCP?
[07:39 am] rusty : starting small swing
position in NFLX
[07:39 am] Kris : the gap down was failing
support levels but it was still far enough
above next support to give good money.
[07:39 am] Kris : ok, MCP
[07:39 am] Kris : no this is a good time
[07:39 am] Kris : I think I had it on my list
premarket
[07:40 am] shark : looks like you are trying
to pick a bottom rusty
[07:40 am] scalpman : Brent: Target on ADS
S
[07:40 am] Kris : you see that anthonyb?
[07:40 am] Kris : it was a weak gap
[07:40 am] Kris : a breakdown on the daily
from consolidation
[07:40 am] joeytsa : break time…see
everyone in a while..keep the good trades
rollin’
[07:40 am] anthonyb : I see it
[07:41 am] anthonyb : so where did you
enter?
[07:42 am] neuronx : MCP selloff
[07:43 am] sonorant : then a short on JAZZ
after the push is over?
[07:43 am] rusty : i’ll never find the exact
bottom…so am starting with a partial
position and willing to add to it
[07:43 am] eyes-inthenow : WHATS a good Stop
ADS
[07:43 am] anthonyb : that’s a big help for
me Kris, thanks
[07:43 am] anthonyb : okay guys, see you all
tomorrow
[07:44 am] sonorant : too strong?
[07:44 am] shark : never, say, never…Rusty
-the meet in the move is once you see the
bottom and you catch the train as it starts
to leave the station
[07:44 am] shark : correction -(meat)
[07:44 am] Brent : tell me where you think it
should be EYES on ADS. What’s your
experience tell you
[07:45 am] eyes-inthenow : on the Daily
101.40 today 101.05
[07:46 am] scalpman : All out BIDU S good
one
[07:46 am] eyes-inthenow : just over
[07:46 am] Brent : I have my stop over 101.15
on ADS
[07:46 am] badboy : bidu short?
[07:46 am] mikewd2 -: stopped on JAZZ, +1.26
– thanks Kris
[07:47 am] sonorant : Yes, Thanks Kris for
JAZZ, over $1.00
[07:48 am] eyes-inthenow : 101.15 it is then
thanks Brent
[07:49 am] shark : ok, Kris
[07:52 am] shark : GREAT idea! lisaS[07:52
am] lisas : I think I’ll go have a
greenmountain coffee break
[07:52 am] neuronx : Kris u still 1/4 long
in JAZZ
[07:53 am] lisas : We have 3 of their
machines
[07:53 am] lisas : I order it in bulk
[07:53 am] Kris : and I thought I drank a lot
of coffee
[07:53 am] eyes-inthenow : Brent is it just
me or is ADS not acting right or am I just
being too impatient
[07:54 am] ronfrac : I’m flat also. Thax
Kris and Mitch. good day. Mat retire
[07:56 am] ronfrac : ADS 1,2,3 min charts
neg[07:56 am] neuronx : Tna likes round
numbers Kris
[07:56 am] eyes-inthenow : CHK looking
good
[07:57 am] doji : TZA too late to see
[07:59 am] scalpman : Out 1/2 ADS s
[08:00 am] qwert : arun another hod[08:01
am] qwert : thanks for the call
[08:02 am] topdogrex : rimm breaking down
more
[08:02 am] sonorant : thanks
[08:02 am] sonorant : Kris, passing on FAST
because market likely to turn or ??
[08:03 am] shark : SINA alert
[08:03 am] mikewd2 -: looking for bottom in
SINA
[08:03 am] doji : BIDU
[08:04 am] shark : cleaner business should
be good, Kris
[08:06 am] qwert : news sina[08:06 am]
mikewd2 -: wow, SINA dying
[08:07 am] sonorant : How do you play SINA
or BIDU? wait for a bounce?
[08:07 am] shark : good job, Randall!
[08:07 am] ronfrac : kRIS: spy ON 1 MIN
CHART TRENDLINE?
[08:07 am] randall : who remembers my post
on a swing SINA short? I didn’t expect this
though!
[08:08 am] duckfan : TZA here?
[08:09 am] sonorant : thanks
[08:09 am] shark : not seeing enough of a
move yet, Duckfan[08:10 am] shark : RUN,
burrito, RUN!
[08:10 am] shark : CMG hod[08:10 am] duckfan
: thanks shark
[08:10 am] candelas : me likey sina[08:12
am] candelas : Sonorant it is advanced
trade, take time, patience, practice in
virtual and plenty of study
[08:13 am] qwert : candles what is your
entry on sina[08:13 am] mikewd2 -: watched it
hit 95.4 and didn’t pull the trigger -moved
up too fast
[08:14 am] qwert : nice
[08:14 am] candelas : 96.61 and 97.71
[08:15 am] shark : picture perfect landing,
SINA – Kris!!!
[08:15 am] shark : market tired of all the
Europe news, QE3, operation twist possible
[08:15 am] scalpman : WOW
[08:15 am] scalpman : All out Sina[08:15 am]
mikewd2 -: DANG very sick
[08:15 am] lisas : candelas, this stock
jumps around a lot, what kind of stop do you
use on entry with TS?
[08:15 am] junior : nice job candelas
[08:15 am] candelas : thx guys
[08:16 am] shark : KRIS- you generally using
about 1% stops
[08:16 am] candelas : on sina[08:16 am]
candelas : i place stop below lod[08:17 am]
sonorant : Thanks for SINA — was it shark
originally?
[08:17 am] mikewd2 -: Ron Kirk, discussing
trade enforcement with China
[08:17 am] candelas : bad poultry
[08:18 am] sonorant : candles, bad
poultry???
[08:18 am] ronfrac : kRIS. thx FOR sions OUT
+ 2.71
[08:19 am] sonorant : we are getting
chickens from China??????
[08:19 am] sonorant : TZA finally
turning???
[08:19 am] randall : what was that sina
selloff all about? anyone?
[08:19 am] doji : NFLX dropping again
[08:19 am] candelas : the trade enforcement
by US against China due to bad poultry
[08:20 am] shark : I’m not going to be the
guy to try and pick the NFLX bottom,
[08:20 am] Kris : not gonna be “that” guy
[08:20 am] Kris : chickety china the chinese
chicken
[08:20 am] candelas : i learned not to be
that guy
[08:21 am] shark : buy, sell or flinch?
[08:21 am] Kris : it’s a song
[08:21 am] candelas : never heard it
[08:23 am] Kris : song is “one week” by the
barenaked ladies
[08:26 am] apple : today they are honoring
the first responders at ground zero
[08:27 am] truck : Lunch on Brent !!!!
[08:27 am] truck : Brent !!! That was a heck
of a call !!! ADS
[08:27 am] candelas : thx Bert for ADs
[08:27 am] apple : it’s about time we got
lunch from B
[08:27 am] joeytsa : they should have been
honored on 9/11
[08:28 am] truck : Apple, the boy is cheap
!
[08:28 am] shark : higher highs, higher lows
off the bottom – NFLX
[08:28 am] joeytsa : missed that entire SINA
move, close to 20 points up and down
[08:28 am] doji : NFLX moving up in jumps
[08:28 am] doji : Higher highs, lower
lows
[08:28 am] Brent : I’ve been waiting for you
guys to cash in. I’m at sizzler every
afternoon
[08:29 am] truck : You can tell we are
making money today !!!
[08:29 am] shark : what city, Brent?
[08:29 am] shark : I buy Chipotle!
[08:29 am] shark : higher lows -doji –
NFLX
[08:29 am] doji : yeap Shark
[08:29 am] Brent : and every morning, and
most of the time in the evening
[08:29 am] apple : poor B, i’ll buy you a
subway
[08:30 am] apple : that’s why it keeps going
up, shark!
[08:33 am] shark : CERN all time high!
strong growth co.
[08:38 am] rusty : NFLX cut to underperform
by Caris. Target 103. Previous target
185.
[08:38 am] rusty : great analyst
obviously
[08:40 am] shark : short, did someone say
short?
[08:40 am] joeytsa : haha[08:40 am] joeytsa
: day late and a dollar short..as always
[08:41 am] joeytsa : yeah, all the analysts
at the bottom 🙂
[08:42 am] sonorant : well, I’m long TZA,
but I’m not convinced anything is going to
come of it….
[08:42 am] shark : good point, Mitch. Seems
like it could break either way
[08:42 am] randall : Kris is a money machine
today
[08:42 am] doji : Not a good day for me
guys, I messed up with TNA and instead of
selling to close I sold to open and I didn’t
realize until it was too late
[08:43 am] sonorant : I hate it when I push
the wrong button
[08:43 am] sonorant : I figured I would
eventually not make those mistakes….
[08:43 am] mikewd2 -: i’ve done that before
doji[08:43 am] lightning : good morning all.
l missed you all this morning, but am ready
for a few good trades!
[08:43 am] joeytsa : just a mistake
doji[08:43 am] doji : Down $300 today.
[08:43 am] apple : doji, you will more than
make up for it
[08:44 am] mikewd2 -: that was the amount of
my NFLX mistake
[08:44 am] mikewd2 -: staying away from NFLX
forever!
[08:44 am] mikewd2 -: i forgot i went long
yesterday on NFLX, with only a day stop!
[08:44 am] mikewd2 -: almost
[08:44 am] joeytsa : at least it wasn’t a
$3000 loss, have had a few of those over the
years
[08:44 am] eyes-inthenow : same here just no
3000 up days
[08:44 am] eyes-inthenow : but I will
[08:44 am] apple : they are coming very
soon, eyes…
[08:45 am] sonorant : guys, if you trade
really well with a $30,000 account, how much
can you make? (I know how much you can make
if you trade really poorly ;-)….)
[08:45 am] shark : short, short, short,
short…on every rally
[08:45 am] mikewd2 -: NFLX on the fall
again
[08:45 am] joeytsa : don’t force it
though
[08:45 am] eyes-inthenow : I know that is
why I don’t give Up
[08:45 am] apple : did NFLX bite you
mike?
[08:46 am] shark : 1-3% is good
[08:46 am] sonorant : on the account for the
day?
[08:46 am] shark : well said, joeytsa[08:46
am] joeytsa : you CAN make a lot, doesn’t
mean you will or should even try to
[08:46 am] joeytsa : limit your losses and
your winners will take care of themselves
[08:47 am] sonorant : So $300 – $900/day
would be reasonable.
[08:47 am] shark : with experience
[08:47 am] shark : even pilots get
continuous training!
[08:47 am] mikewd2 -: i need that webinar
badly!
[08:47 am] mikewd2 -: definitely
[08:47 am] lightning : I agree with Shark
[08:47 am] lightning : Sonorant, my goal is
to make 1-2% per day. Some days I make a
little more, some days I make less or lose
some.
[08:47 am] shark : 1-3% is a good target
based on historical experience
[08:48 am] sonorant : believe me, I get the
experience part of it…..:(
[08:48 am] mikewd2 -: stick mainly with their
trades (my main problem – I don’t always do
that)
[08:48 am] mhaus : Mitch, would you be
sending the link to login to the webinar or
would the login button be at the current
webinar page?
[08:48 am] lightning : But the focus in on
making good entries and exits…the dollars
will take care of themselves.
[08:48 am] joeytsa : i do things a little
differently but trying to incorporate more
ideas
[08:48 am] joeytsa : focus on what Mitch
teaches on money management…
[08:49 am] mikewd2 -: mhaus, he included it
in today’s DSR
[08:49 am] mhaus : Thanks Mike
[08:49 am] joeytsa : sonorant : $300/day is
decent money
[08:49 am] joeytsa : avg person has to make
$40/hr to hit that…i don’t know that many
people who make that..
[08:49 am] doji : I agree with you 100%
Joey
[08:49 am] apple : lately K has had some
really fabulous trades right out of the gate
every morning…
[08:50 am] sonorant : Okay, thanks guys….
and yes, it sure beats a real job — if you
can make it work for you.
[08:50 am] mhaus : I had a good day with
NFLX today
[08:50 am] joeytsa : i quit a $50/hr job to
trade again, hated working hahah[08:50 am]
joeytsa : doji: 1 GOOD trade at a time
[08:50 am] doji : I am open to suggestions
on how to recover my $300 loss….
[08:51 am] mikewd2 -: understand Mitch
[08:51 am] joeytsa : don’t try to get it
back all at once, pick away at it if you have
to
[08:51 am] apple : you do make it work for
you, sonorant
[08:51 am] apple : thx MK
[08:52 am] mikewd2 -: WLT
[08:52 am] lisas : sonorant, have you been
to any of the seminars?
[08:52 am] apple : right, joey, 1 at a
time… or maybe 2
[08:53 am] swingtrader : would you be short
Open and long GMCR
[08:53 am] swingtrader : mitch is the hedge
is open with GMCR
[08:53 am] sonorant : lisas, yes, I was in
FL in April of 2010
[08:53 am] junior : HLF on the move
[08:53 am] joeytsa : yes apple..i learned
that lesson from playing the horses
thankfully
[08:53 am] joeytsa : can’t get it back all
at once usually
[08:54 am] mikewd2 -: WLT was a bad chart
tick for some reason sorry
[08:57 am] lisas : dang, should have taken
tna out of the lower stochs, oh well, I’m at
my daily target, didn’t want to jinx it,
still have some nice positions long.
[08:58 am] lisas : yes, small but
consistent
[08:58 am] joeytsa : nice lisa…daily
target for profit?
[08:58 am] joeytsa : beautiful
[08:58 am] eyes-inthenow : GR alert
[08:59 am] lisas : thanks, working on better
money management
[08:59 am] lisas : I picked up some bad
habits sim trading too long.
[08:59 am] joeytsa : probably the most
important thing
[09:01 am] doji : That is something I have
to work harder Lisa
[09:02 am] junior : out half HLF
[09:04 am] joeytsa : sorry lisa..stepped
away for a second..had to change the tap on
my keg 🙂
[09:05 am] junior : same with me joey, for
sure
[09:05 am] joeytsa : sim trade is great for
getting your technique down..but didn’t help
me emotionally
[09:05 am] apple : ha, ha
[09:07 am] junior : reading trading in the
zone right now, interesting book
[09:07 am] joeytsa : everyone gets different
results
[09:08 am] qwert : mcp new lod[09:08 am]
joeytsa : i am going to order that book
today i think
[09:08 am] eyes-inthenow : did anyone get
GR
[09:08 am] apple : thx qwert[09:08 am] apple
: thx for GR eyes
[09:08 am] apple : i have not read it
either
[09:09 am] apple : reminds me of that nice
trip down with SODA awhile back… lovely
[09:11 am] junior : out all HLF, nice little
1 percenter, more cha ching in the bucket
[09:11 am] joeytsa : way to go jr[09:12 am]
lightning : I enjoyed Trading in the Zone.
It isn’t a technique book, though. It’s more
of a mental approach book.
[09:12 am] junior : thx guys
[09:12 am] joeytsa : trading= psychology in
action
[09:12 am] joeytsa : that’s good
lightning…
[09:12 am] apple : good job, junior
[09:13 am] junior : absolutely light,
definitely makes you think about going with
the market instead of fighting it
[09:13 am] joeytsa : just look at morning
gaps or earnings releases
[09:13 am] apple : you got that right, joey
– we know that all too well
[09:14 am] storage : just finished trading
in the zone it has helped me calm down
[09:14 am] sonorant : I am famished. Does
trading make anyone else hungry?
[09:15 am] sonorant : It seems crazy — but
the mental work seems to burn glucose like
crazy…
[09:16 am] joeytsa : Mitch: you are talking
about the short from around the $52 level?
[09:17 am] randall : yeah storage…I need
to read that about three more times
[09:18 am] joeytsa : you guys are talking
about the Mark Douglas book right?
[09:19 am] randall : yes. There are two
books with the same name. Mark Douglas is the
one I read
[09:19 am] qwert : that’s a great book
09:19 am] joeytsa : $31.50 on amazon
[09:20 am] Mitch K: yes joey, short of OPEN
around that $52 area
[09:20 am] joeytsa : thank Mitch, good area
for the short
[09:20 am] joeytsa : i’ll order it this
afternoon…have read 50 books on trading,
what’s 1 more
[09:21 am] rusty : NFLX 18 rsi[09:21 am]
joeytsa : that’s one of your trademark plays
i would assume
[09:21 am] joeytsa : CELG hod..nice day for
them
[09:22 am] shark : still long NFLX,
rusty?
[09:22 am] eyes-inthenow : Gr looking really
good
[09:23 am] shark : I saw that, Mitch
[09:23 am] rusty : yes its a swing
[09:23 am] joeytsa : yeah saw that…2 day
FOMC powwow
[09:23 am] joeytsa : APKY lod[09:24 am]
shark : ok, thx. just keep your stop loss
rules in place
[09:24 am] joeytsa : APKT sorry
[09:26 am] qwert : plcm at lod[09:28 am]
sonorant : Mitch, are you looking at the
daily chart on SINA to determine the
$102/$100 numbers?
[09:30 am] qwert : i just have a small
position at 21.77 plcm[09:31 am] qwert :
thanks kris[09:31 am] qwert : are you
covering part at 21.50 area
[09:32 am] shark : life is too quick to stay
in the slow lane, joeytsa[09:32 am] joeytsa
: i have re-realized that i have no patience
for these slow slow movers
[09:32 am] joeytsa : APKT…not even a
decent spread to cut into
[09:32 am] apple : which?
[09:33 am] Kris : yes qwert, I’ll still take
it even though small
[09:33 am] joeytsa : slow lane? I’m on the
side of the road with a flat tire 🙂
[09:33 am] apple : nice ride down, tho[09:34
am] shark : the Webinar will do great
[09:34 am] shark : call AAA!
[09:34 am] apple : on-star
[09:35 am] joeytsa : stopped be..oh
wel[09:35 am] joeytsa : shark: that’s my
prob, i only dialed AA
[09:36 am] joeytsa : been recommended a few
times…putting my order in on my next
break
[09:36 am] eyes-inthenow : who was it that
recommended the Disciplined Trader by Mark
Douglas
[09:37 am] sonorant : Joey, what do you mean
by “not even a decent spread to cut in
to?”
[09:37 am] eyes-inthenow : he also wrote
Trading in the Zone I am going to buy them
any feedback
[09:38 am] sonorant : okay?? and??
[09:38 am] qwert : trading in the zone is
awesome perfect for you eyes really helped me
a lot
[09:38 am] lisas : read the amazon reviews,
don’t know that you need both. Seems like I
read something like that when I bought
mine
[09:38 am] joeytsa : old technique i used to
use during the “fraction” era…slowly
working it in this new era of decimal
trading…
[09:38 am] joeytsa : basically trying to
“create” a profit for myself
[09:38 am] candelas : I did Eyes
[09:39 am] joeytsa : example : bid 65/ask
65.25…
[09:39 am] qwert : 1/2 off plcm[09:40 am]
sonorant : so a trade that lasts a few
seconds?
[09:40 am] qwert : picking up a little steam
plcm[09:40 am] Kris : the true definition of
scalping
[09:40 am] joeytsa : make approx 19cents
-comm[09:40 am] joeytsa : i might try to buy
it either on the bid or just above and once
executed sell it at just below the ask…
[09:40 am] candelas : actually I had
mentioned “trading in the zone” Eyes
[09:40 am] joeytsa : ie: buy at 65.03, if
executed then sell at 65.22
[09:41 am] sonorant : so how long do you
hold it?
[09:41 am] joeytsa : yeah…pros: if you are
right, its a profit
[09:41 am] joeytsa : cons: if wrong, you can
usually get out close to break even
[09:41 am] joeytsa : as short as possible
[09:42 am] sonorant : when did we go to
decimals?
[09:42 am] sonorant : do you still do it?
[09:42 am] joeytsa : still working out
kinks..was easier back during the fraction
era
[09:43 am] sonorant : and Kris, do you mean
that that is really what “scalping” is?
[09:43 am] joeytsa : early 2000’s i think it
was
[09:44 am] sonorant : so you had to do huge
quantities to make it work…
[09:44 am] sonorant : So it used to be in
quarters of a dollar, or in eighths?
[09:44 am] Kris : yes sonorant
[09:44 am] joeytsa : yes…true cutthroat
scalping…
[09:44 am] joeytsa : commissions were MUCH
higher back then also though
[09:44 am] joeytsa : yes sonorant…on 1/4
spreads i would cut it for 3/16th
[09:45 am] shark : you seeing more sellers
here, Kris?
[09:45 am] Kris : the true definition of
scalping originally was trying to make a
small profit trying to play the spread
between the B/A
[09:45 am] Kris : but you hear it used more
to talk about short term day trades.
[09:45 am] joeytsa : didn’t always get
entered though…
[09:45 am] joeytsa : 1997, a new rule came
out..99.9% of traders never heard of it
[09:46 am] sonorant : What was the rule?
And what fractions was the dollar broken in
to?
[09:46 am] rusty : SOES traders
[09:46 am] joeytsa : rule was called the
Manning Rule..
[09:46 am] joeytsa : or the LOPR rule
[09:46 am] joeytsa : Limit Order Protection
Rule
[09:46 am] joeytsa : i exploited that
rule..but again, commissions ate a big % of
profits
[09:46 am] eyes-inthenow : candelas do you
recommend both books
[09:46 am] candelas : Yes, most
definitely
[09:46 am] candelas : once heard a floor
trader say long term is after lunch
[09:47 am] sonorant : candlesl, that’s
funny
[09:47 am] joeytsa : b4 that market makers
didn’t have to execute your orders for the
most part
[09:48 am] joeytsa : LOPR came out, traders
could now buy on the bid/sell on the ask just
like the mm’s
[09:49 am] neuronx : Mitch are you long on
MNTA or it might drop to 11…?
[09:49 am] joeytsa : SINA lod[09:49 am]
joeytsa : i got away from that and now
trying to get that technique back into my
game plan
[09:49 am] doji : DId anybody short SINA
below 102?
[09:53 am] sonorant : shorting GR with small
# shares
[09:53 am] joeytsa : Mitch called it last
night in the video taht we would have nice
shorts and longs today
[09:53 am] doji : SINA looking as potential
LONG here?
[09:54 am] qwert : sina short at 101.52
[09:54 am] doji : SPY moving up
[09:55 am] Mitch K: neuro, stocks like MNTA
after a huge down day usually take several
more days of selling to stop going down. you
always want to wait until a stock stops
dropping before buying
[09:56 am] lara : MCP – looking for short
[09:58 am] doji : Lara, I am a bit scare on
stocks that have moved down a lot and then
take them short as they can rebound very
quickly
[09:59 am] lara : quick 1%
[10:00 am] mhaus : CBST
[10:06 am] michael : ILMN dropping
[10:08 am] shark : SINA still going down
[10:10 am] mikewd2 -: SINA may provided
another nice bounce again
[10:11 am] shark : ok, K.
[10:15 am] doji : SPY approaching hod[10:17
am] mikewd2 -: yep
[10:18 am] neuronx : Looks like SFSF turning
down
[10:18 am] eyes-inthenow : any thoughts on S
sfsf here
[10:19 am] joeytsa : NFLX, iif it breaks 130
it might want the lod[10:19 am] eyes-inthenow
: Am I reading it right
[10:20 am] zentrader : Long ILMN
[10:20 am] doji : I am just watching
[10:21 am] sonorant : I’m short SFSF
$25.34
[10:21 am] rusty : solars lod[10:21 am]
joeytsa : and NFLX new lod[10:22 am] shark
: breaking up wasn’t hard to do NFLX
[10:22 am] doji : watching how you trade
guys, busy in a meeting
[10:22 am] doji : I know Kris…
[10:22 am] candelas : big money exit always
crowded
[10:22 am] joeytsa : was 300 2 months ago
[10:23 am] joeytsa : enjoy apple
[10:23 am] joeytsa : CLF lod[10:23 am] apple
: taking a break – be back later
[10:24 am] ronfrac : kRIS: what’s YOUR STP
LOSS ON ILMN
[10:25 am] rusty : TSL radar
[10:28 am] shark : MCP – CEO speaking today
on Fast Money -and at Goldman Sachs
conference tomrrow[10:28 am] mikewd2 -: say
you were watching
[10:28 am] mikewd2 -: did you go long on MCP
Kris?
[10:28 am] lisas : arun moving up more, new
hod[10:28 am] doji : That was me Mike
[10:29 am] mhaus : CSTR
[10:29 am] lisas : I got that early today
off your call Kris, thanks
[10:29 am] joeytsa : been strong lisa[10:30
am] shark : LULU peaking up from
consolidation
[10:30 am] rawdawg6914 : hey guys, sorry i
haven’t been talking, how is everyone?
[10:30 am] joeytsa : longer term, GS looks
like another dog stock
[10:30 am] joeytsa : hey dawg[10:31 am]
rawdawg6914 : everyone having a good trading
day?
[10:31 am] lisas : Hi raw, good day so
far
[10:32 am] rawdawg6914 : that’s good, i set
my position short in netflix this morning and
have been watching the $$ roll in all day
haha[10:32 am] rawdawg6914 : I’m having an
awesome day so far
[10:32 am] joeytsa : been a good day for
trades, decent moves
[10:32 am] candelas : try not to look at
money Rawdawg[10:33 am] zentrader : Thanks
for SFSF – whoever posted that one. 🙂
[10:33 am] rawdawg6914 : not too shabby at
all
[10:33 am] rawdawg6914 : I’m not, I’m
looking at the points
[10:33 am] rawdawg6914 : 13.30 moving so far
today
[10:33 am] junior : good one dawg!
[10:33 am] joeytsa : nice job dawg[10:33 am]
joeytsa : lots of quiet room members,
watching and making money i hope
[10:33 am] candelas : cool
[10:34 am] rawdawg6914 : think it will go
past 100?
[10:34 am] rawdawg6914 : anyone have any
ideas on how low NFLX is gonna go?
[10:34 am] joeytsa : CF has been a steady
down mover all day
[10:34 am] joeytsa : big move
[10:36 am] ronfrac : mk: sina iM IN 97.27
[10:36 am] neuronx : 97.04 long on SINA
[10:37 am] neuronx : Mitch you still long on
SINA?
[10:37 am] candelas : in sina also
[10:38 am] joeytsa : quick stick on SINA
[10:39 am] ronfrac : kris: ilmn gOOD CALL
THX
[10:39 am] joeytsa : only half lot
[10:39 am] candelas : sold 1/2 sina 99.27
[10:40 am] joeytsa : you seem to be shootin
fish in a barrel 🙂
[10:40 am] joeytsa : candelas rockin’ it
[10:40 am] candelas : thx Joey
[10:41 am] joeytsa : some trades are like
that..others are like a month with the
in-laws 🙂
[10:41 am] candelas : thx Mitch
[10:41 am] candelas : pow pow pow[10:42 am]
joeytsa : big moves on SINA today
[10:42 am] candelas : in-laws or out-laws
[10:43 am] Mitch K: you guys get that?
[10:43 am] Mitch K: ok gone on SINA
[10:43 am] joeytsa : lunch break…stay in
the good trades everyone
[10:43 am] candelas : out another 1/4
sina[10:44 am] qwert : great coaching
mitch[10:44 am] mikewd2 -: nice 3 pt gain
[10:44 am] mikewd2 -: got stopped 98.5
[10:49 am] lara : ESRX new HOD
[10:51 am] candelas : 96.37
[10:51 am] candelas : still have last 1/4 of
sina stop at breakeven
[10:51 am] candelas : still have last 1/4 of
sina stop at breakeven
[10:53 am] candelas : where is ur bottle
Kris?
[10:54 am] sonorant : Oh, don’t worry about
nice Mitch….
[10:54 am] candelas : thx for info
[10:54 am] candelas : i know
[10:55 am] zentrader : me too, Kris 🙂
[10:55 am] mikewd2 -: is CSTR a short?
[10:55 am] lara : Well you won’t fall off at
that speed, Kris!
[10:56 am] sonorant : what makes it a 3 min
fade?
[10:56 am] sonorant : what is the 3 minute
part?
[10:56 am] sonorant : so is CSTR a short?
[10:56 am] sonorant : ok, that was my next
question.
[10:56 am] candelas : 1 of his strategies
[10:57 am] zentrader : yeah, CSTR was nice.
Missed that completely too
[10:57 am] sonorant : at this point in
time?
[10:57 am] mikewd2 -: then its not for me
either
[10:57 am] doji : so what is wrong with the
3min fade then?
[10:57 am] dan : Kris, your averages L on
ILMN?
[10:58 am] doji : You already answered
[10:58 am] doji : Yeap[11:01 am] sonorant :
You are right Mitch, I went off to trade
something else that wasn’t as good of an
idea, and as a result, I missed SIN, which
was much more lucrative.
[11:01 am] sonorant : SINA
[11:02 am] rusty :
http://www.thestreet.com/mad-money/index.html
[11:03 am] rusty : to see why loyal
cramericans jumping ship
[11:03 am] rusty : Input NFLX
[11:05 am] rusty : http://bit.ly/n335eM
[11:09 am] mikewd2 -: got to leave early,
good luck to you guys
[11:10 am] sonorant : bye mike
[11:10 am] candelas : trailin last 1/4 of
sina long
[11:15 am] candelas : movin stop to 97.57
[11:16 am] qwert : mitch thoughts on
cstr[11:16 am] candelas : 97.93 stop
[11:17 am] sonorant : check out how the SPY
chart for today and teh TNA chart for today
are pretty different — TNA hasn’t held up
like SPY has
[11:18 am] candelas : last 1/4 stop sina
98.21
[11:21 am] rusty : look at IWM for TNA
TZA
[11:21 am] Kris : TNA doesn’t directly follow
the spy sonorant.
[11:21 am] candelas : all out Sina, stopped
last 1/4 98.21
[11:22 am] rusty : the Russell 2k
[11:22 am] mhaus : or below 97?
[11:22 am] mhaus : Kris, you mean SINA could
go below 95.3?
[11:23 am] mhaus : Thanks
[11:23 am] Kris : yes mhaus, it’s looking
weak
[11:24 am] mhaus : will do. thanks.
[11:25 am] sonorant : I know it tracks a
different index, I just thought it was
interesting how differently they were
behaving today.
[11:25 am] joeytsa : Kris: you think that
might set off a squeeze?
[11:27 am] Kris : yeah, I think so joey
[11:28 am] mhaus : Kris, Brent – I have
Kinetick as my data provider. Can I use them
as data providers for Trade Station too or do
I have to use data from Trade Station
only?
[11:28 am] Kris : this is the 3rd test of 122
over the past 4 days and we’ve had pretty
tight consolidation today like it doesn’t
want to give it up.
[11:28 am] joeytsa : entire market has
seemed like a coiled spring lately
[11:29 am] mhaus : Thanks
[11:29 am] joeytsa : NYSE BPI still in x’s,
%30wk in zeroes..push and pull
[11:29 am] candelas : it is a standalone
Mhaus[11:29 am] Brent : I’m not sure you can
use other datafeeds for Tradestation,
Candelas might know
[11:30 am] Kris : there is an add on but I
haven’t tried it for connecting to 3rd party
data feeds
[11:30 am] Kris :
http://www.multicharts.com/tradestation/
[11:31 am] rusty : NLFX getting jiggy[11:31
am] mhaus : thanks. i will check that
out.
[11:31 am] Kris : that is interesting
sonorant. I might look into that to see if
there are any patterns to spot.
[11:31 am] candelas : seems like headache,
just my opinion and u know what they say
[11:33 am] rusty : TSL lod[11:33 am] joeytsa
: they don’t report for a few weeks..wonder
how far they can go
[11:33 am] joeytsa : CMG running like its an
earnings release soon
[11:36 am] sonorant : candles, a couple of
screens back you said you had the last 1/4 of
SINA left with a stop set at break even.
What did you mean by that?
[11:37 am] sonorant : Was your stop really
at your entry point?
[11:38 am] sonorant : I know that is what
makes sense, but then what the the “break
even” refer to?
[11:38 am] shark : CMG
[11:38 am] lisas : sonorant, he moved it up
afterwards
[11:38 am] eyes-inthenow : Any thoughts on S
CSTR Here Mitch
[11:39 am] sonorant : okay, so what does it
mean to say your stop is at break even? Is
it at or above your entry price?
[11:39 am] sonorant : does the
[11:39 am] candelas : breakeven refers to my
entry price
[11:40 am] lisas : anyone see any news on
cmg?
[11:40 am] candelas : at entry price
[11:40 am] sonorant : so do you still have
1/4 of your SINA?
[11:41 am] shark : Yes, lisas[11:41 am]
shark : was it just on joeytsa?
[11:41 am] shark : Herb Greenberg going to
possibly TRASH the company on CNBC in 9
min.
[11:41 am] joeytsa : short segment on cnbc a
few minutes ago
[11:41 am] eyes-inthenow : What do you think
Candelas CSTR for a short here
[11:41 am] candelas : i trailed it up and
was stopped out at 98.21
[11:42 am] shark : I missed it, then.
[11:42 am] shark : bounce here CMG -over
reaction on low volume
[11:42 am] joeytsa : saying that after a 20
point run, he hated that people are saying
its a buy or something like that
[11:42 am] eyes-inthenow : what would have
been you entry
[11:42 am] eyes-inthenow : me too
[11:42 am] candelas : I shorted at avg
price of 45.97
[11:42 am] candelas : for me it’s too late
Eyes
[11:43 am] sonorant : I must have read what
you said incorrectly Candles… sorry
[11:43 am] shark : I should have had my
short in on that.
[11:43 am] joeytsa : i keep getting bounced
by lightspeed[11:43 am] joeytsa : exactly
shark…this wasn’t a resistance drop
[11:43 am] eyes-inthenow : I didn’t listen
to my natural knowing
[11:43 am] candelas : sometimes we type and
others have to interpret
[11:43 am] candelas : it was good point
Sonorant
[11:45 am] sonorant : meanwhile, SPY is
heading down and SINA I think is below
lod???
[11:45 am] shark : NFLX holding up at these
levels pretty well
[11:45 am] candelas : covered 1/2 CSTR
45.57
[11:46 am] joeytsa : news from earlier
didn’t see posted : IMF downgraded the US
economic outlook thru 2012
[11:47 am] joeytsa : ’11/’12 1.5/1.8 down
from 2.5/2.7
[11:49 am] shark : for sure
[11:49 am] lisas : they want to bring it
down so they can buy
[11:49 am] candelas : they trashed CMG cuz
they missed the move
[11:50 am] lisas : I might pull a candelas
and buy 1
[11:50 am] lisas : cmg, not nflx[11:50 am]
joeytsa : dta: don’t trust anyone
[11:50 am] eyes-inthenow : CAndelas any
thoughts on Swinging NFLX
[11:50 am] candelas : I think Mitch called
it a buy way back in 70’s
[11:51 am] joeytsa : i’m thinking about a
few CMG calls to play for earnings
[11:51 am] candelas : Lol[11:52 am] shark :
I would have preferred to see you get the CMG
calls at the bottom of the last range
pullback
[11:52 am] joeytsa : i would have preferred
then at 110 haha[11:53 am] shark : looks
like some capitulation on the hourly volume
chart-NFLX
[11:53 am] shark : CMG has rallied off of
275 –
[11:53 am] lisas : yep, I’m up $3 on my
share
[11:53 am] lisas : nflx is acting
interesting,
[11:53 am] candelas : Eyes, it is still in
bottoming mode
[11:55 am] doji : SINA lod[11:56 am] doji :
NFLX powering up
[11:59 am] rusty : solars getting hit
hard….worth watching for a tradable swing
imo[12:00 pm] rusty : e.g. TSL
[12:01 pm] rusty : Cramer $NFLX is worth
only $7 billion now…That does seem too low.
That’s a lot of subs for very little money.
–
[12:02 pm] rusty : loyal cramericans buy at
high, sell at low and now cramer saying looks
cheap after selling low
[12:02 pm] doji : IS anyone long in NFLX
here?
[12:03 pm] shark : they had 5% quit…
[12:03 pm] shark : rusty is…
[12:03 pm] shark : king of the NFLX day –
rusty!
[12:03 pm] rusty : x
[12:03 pm] rusty : NFLX – Hastings speaks
tomorrow at 3pm GS conference
[12:03 pm] rusty : fwiw[12:04 pm] shark : a
little over done here?
[12:04 pm] shark : 60% drop from high…
[12:04 pm] rusty : just look at the rsi to
get an indication
[12:05 pm] shark : you needed a coffee
break?
[12:05 pm] shark : wow, SINA
[12:05 pm] rusty :
http://stockcharts.com/h-sc/ui?s=NFLX&
;p=D&yr=0&mn=6&dy=0&a;
mp;amp;id=p85568819359
[12:05 pm] joeytsa : SINA dropping
[12:05 pm] doji : Need tio better manage my
trades
[12:05 pm] doji : Why did I sell my TZA at
42.3?
[12:06 pm] candelas : out another 1/4 CSTR
45.41
[12:07 pm] qwert : candles did u short cstr
prior to spike up at 2:30 or after
[12:07 pm] candelas : holding last 1/4 with
stop at 45.71
[12:08 pm] shark : AAPL near lod[12:08 pm]
doji : Agggghhhh TZA
[12:08 pm] candelas : I had real small
position at that time and added
[12:09 pm] qwert : i had small position to
and was planning to add but got stopped
[12:09 pm] candelas : i had like 10% of
normal position size at that point
[12:10 pm] shark : BIDU running
[12:10 pm] qwert : when u have such a small
position do you have a stop in?
[12:10 pm] candelas : i started extra small
tine tiny
[12:11 pm] eyes-inthenow : I bought TZA
41.33 out 41.47 this is my problem
[12:11 pm] candelas : i do but very loose
[12:12 pm] qwert : i thought my stop was
loose to but got hit on cstr[12:13 pm]
candelas : when that happens I just reassess
or wait for higher prob trade setup, which we
got
[12:14 pm] qwert : same here i should have
just reloaded frustrating
[12:14 pm] doji : sorry 42.08 42.30
[12:14 pm] candelas : Eyes, eventually Nflx
will be a great opp, but not yet on daily
[12:14 pm] doji : Eyes, I got TZA at 43.08
and sold at 42.3… the reversal in the
stochastics gave me a fake signal half way
up
[12:15 pm] mhaus : hey guys, I am going to
call it a day. Talk to you all tomorrow
morning.
[12:15 pm] doji : it was a big position and
got a little scare of the potential loses
[12:15 pm] candelas : See ya Mhaus[12:15 pm]
candelas : can be Qwert, just refocus and
see big pic, instead what we want
[12:16 pm] sonorant : ARe we seeing the
effects of van’s 42 minute computers here?
[12:16 pm] eyes-inthenow : I find good
trades and the chicken out CHK l 31.42 OUT
31.18 LOOK AT IT NOW
[12:16 pm] candelas : on daily that is
[12:16 pm] candelas : if Nflx does get lot
more buyers through end could form nice
hammer
[12:17 pm] eyes-inthenow : i ASKED ABOUT
IT
[12:17 pm] eyes-inthenow : cANDELAS PLEASE
KEEP ME UPDATED IF YOU SWING nflx[12:18 pm]
sonorant : Mitch is SINA a long or a
short,or a neither now?
[12:18 pm] Mitch K: nice candles, did you
cover at 45.57 on the first drop of the 2nd
one?
[12:19 pm] joeytsa : have a good one
mhaus[12:21 pm] doji : Neither Sonorant,
look at the stochastics and in addition SPY
is dropping for L
[12:21 pm] candelas : yes Mitch
[12:21 pm] candelas : I got out on 1st and
2nd
[12:22 pm] candelas : i broke up my order
[12:23 pm] candelas : it was a nice call
Mitch, had to be patient on it and
flexible
[12:23 pm] candelas : I will Eyes
[12:24 pm] rusty : SPWRA solar stock
lod[12:25 pm] ronfrac : What is driving this
market down?
[12:26 pm] lisas : significant seems like,
see if dow holds at open
[12:26 pm] joeytsa : future outlook maybe?
just a guess really
[12:28 pm] joeytsa : either that or someone
flipped the algorhythm switch
[12:29 pm] ronfrac : What about TNA on a
turn. Last turn lasted 4 minutes
[12:30 pm] joeytsa : i’m calling it a day,
hope you all do well the rest of trading..see
you tomorrow
[12:31 pm] Brent : have a great night joey,
see you in the am
[12:32 pm] doji : wow GR
[12:34 pm] shark : WOWWWW!
[12:37 pm] qwert : is anyone in gr
[12:39 pm] goodtimes : what is going on with
GR
[12:39 pm] doji : TNA L 42.01 out 42.32….
brought me to break even…yes!
[12:40 pm] sonorant : I got parts of it
Kris
[12:40 pm] neuronx : Kris It was nice sell
on SINA
[12:40 pm] lisas : good job doji[12:40 pm]
doji : Thanks Lisa
[12:40 pm] doji : Feel much better now with
no loses
[12:41 pm] neuronx : I short it below 95
[12:42 pm] neuronx : MCP still heading
down
[12:43 pm] neuronx : You had order for SINA
Kris or you miss that
[12:44 pm] neuronx : You just left and it
starts breaking >@
[12:44 pm] Kris : I missed it
[12:45 pm] neuronx : was nice day today
[12:45 pm] doji : SPY tanking
[12:53 pm] rusty : sun must be going out of
business
[12:53 pm] rusty : started swing long TSL
[12:53 pm] rusty : solar panic
[12:54 pm] rusty : also looking at TAN solar
etf[12:58 pm] ronfrac : Night folks have a
nice one; Thx to all for some good trades
[01:00 pm] sonorant : finished up! Good
night everyone.
[01:00 pm] rusty : OREX halted
[01:00 pm] qwert : goodnight everyone great
way to end the day thanks to whoever called
it
[01:00 pm] lisas : thanks Mitch, Kris, Brent
and all. c u tomorrow
[01:00 pm] doji : Good night everyone… I
saved my day with TNA at the end
[01:00 pm] doji : Finished flat
[01:00 pm] candelas : take care
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