Every day Stock Report Wednesday Morning, June 20, 2012


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Every day Stock Report Wednesday Morning, June 20, 2012

  1. 1. Daily Stock Report Wednesday Morning, June 20, 2012 Announcement: The Trading Room is a LIVE real-time forum where you get excellent stock ideas for mostly intraday scalping trades where our goal is to make 1-3% profit per transaction. Go to www.TradeStocksAmerica.com and click on the Trading Room tab for instructions to receive a $1 trial for a week. Not only will you receive excellent stock trading ideas, mostly focused on intraday scalps, you will get commentary about the timing, trading action, and market behavior during the day and how it affects any stock ideas posted in the Trading Room. Plus you will interact with other traders as well. It is highly recommended to study the trading strategies and chart setup before you use your actual hard earned money and practice in a virtual account for 30-90 days before in order to get a high winning rate while practice. This will dramatically increase your chances of being profitable from the beginning of using your own money. See you in the Trading Room!US stocks are having a healthy relief rally this week with thelack of negative news and an oversold condition. We have Summary Opiniona FOMC rate decision due tomorrow on Wednesday at Be prepared that the market will sell off Wednesday if the2:00pm eastern and the expectations that are starting to Federal Reserve does not announce any stimulus plan.build for some sort of stimulus from the Federal Reserve. Consider reducing long positions early Wednesday.The market is like an emotional 12 year old girl thatchanges its mind from one event to another and the latesttoday is the hopes for some Fed action tomorrow. If we do Calendar (All Eastern times) Monday, 1000am, NAHB Housing Index, 28see some mention of a stimulus plan or even discussion Tuesday, 830am, Housing Starts, 719Kabout it, the market should pop but remember that the Fed Tuesday, 830am, Building Permits, 725kis a slow moving ship that always makes decisions late. It’s Wednesday, 7:00am, MBA Mortgage Index, 18% Wednesday, 1030am, Crude Oil Inventories, -0.111M50-50 that the Fed announces anything on a stimulus plan Wednesday, 1230pm, FOMC Rate Decision, 0.25%although the Obama administration is likely pushing Thursday, 8:30am, Initial Claims, 380,000Bernanke for something knowing it will help his chances to Thursday, 830am, Continuing Unemployment Claims, 3.278Kget re-elected. Thursday, 1000am, Existing Home sales, 4.56M Thursday, 1000am, Philadelphia Fed, -0.2 Thursday, 1000am, Leading Indicators, 0.0%If there isn’t anything discussion about a stimulus plan, the Thursday, 1000am, FHFA Housing Price Index, 1.8%market is very likely going to see some selling late Follow-up notes:tomorrow and into Thursday. We still are seeing high IDCC, Interdigital. If still short, consider holding short for lowerSpanish bond yields the last two days with a 7.16% yield on prices the next few days.the 10 year bond yesterday. This tells you that the marketis viewing the risk of more problems with Spain are likely.Even though we have had a rally for the last 4 days, it is certain we get some volatility with some days of sharp selling.Remember that the biggest risk is the US politicians not getting a budget agreed upon in the next 4-5 months. It is goingto be a trader’s market with the knowledgeable and nimble trader/investor during the remaining part of the year and into2013.Most recent list of “Market worries”: 1. Greece bailout and possible exit; Greece complains they want Spain’s deal; Greece vote this weekend. 2. Spain bailout proposal being criticized as creating more problems in future. 3. Next news bomb: Italy likely going to need help but not in news lately 4. Germany is Europe’s financial leader; says they pay biggest percentage of bailouts; must be weighing options. 5. European recession very likely to start 6. Chinas softening of economy or hard landing? 7. US economic data choppy 8. US Presidential election, momentum shifting toward Romney = Bullish 9. Apathy in retail investors 10. US Housing recovery not strong yet 11. Brazil economy stalling 12. Facebook IPO bombed out and rated as “sell.” High price was over $43 and went below $27 Thursday. 13. JP Morgan loss of $2-3 billion creating mistrust in Wall Street. 14. Money is flowing into US dollar, US Treasuries and German government securities. 15. US economic policy not repairing economy. 16. Current US president not strong leader; creating more debt 17. India economy sharply pulling back now; just starting to hit news. 18. No serious discussion on US budget among politicians; Bernanke warns this as biggest fiscal cliff. 19. French President Hollande leaning heavily to the left toward spending and increasing taxes; not working well with Germany’s Merkel. 1
  2. 2. Scalp of the day from Trading Room: (all eastern times) YPF, YPF SOciedad ANonnima gave a 10% potential short on Friday. These scalps posted here are best ones we find in real-time each day and will do our best to present these as timely as possible to the Trading Room and give commentary and suggestions as how to profit from them. Normally a 2-3% profit is very good per scalp. The Trading Room is now open! Start your $1 trial here: www.tradestocksamerica.com/trading-room-new.php Swing Trade Ideas: (Usually hold time is days) NBL, Noble Energy. Consider small long position. HUM, Humana. Starting to monitor HUM for potential long position. BCS, Barclays Bank. Consider small short next 1-3 days. Wait for rebound in market to top before many shorts: CTB, Cooper Tire & Rubber. Consider small short (hold time days). RYN, Rayonier. Consider small short. LVLT, Level 3 Communications. Consider small short position next 1-3 days. LOGI, Logitech. Consider small short position. RDC, Rowan Cos. Consider small short position. BEAV, BE Aerospace. Consider small short position next 1- days. LVS, Las Vegas Sands. Consider small short. RBC, Regal-Beloit. Watching for potential short next 1-3 days. SLF, Sun Life. Consider small short (only a few days hold time). PANL, Universal Display. Consider small short (only a few days hold time). CHMT, Chemtra, Consider small short position. HGG, HHGregg. Consider small short position. FNGN, Financial Engines. Consider small short position. VCI, Valassis Communications. Watching for short entry. IDCC, Interdigital. Consider small short. Intermediate Trade Ideas: (weeks to months) FTI, FMC Tech. Consider small short next 2-3 days. SNI, Scripps Networks. Consider small long position $54-55 area.Focus Chart: (Worden Telechart 2007-Download FREE on home page SHW, Sherwin Williams, consider small long below $125.of www.TradeStocksAmerica.com.) COP, ConocoPhillips. Consider small long position. ORLY, O’Reilly Auto Parts. Consider small long position.SHFL, Shuffle Master. We are still expecting this to maintain a BK, Bank of New York Mellon. Consider small long positiondowntrend. Always be flexible. RMD, Resmed Health. Consider small long position. WAG, Walgreen. Consider small long position. ROST, Ross Stores. Consider small long position next 1-2 days. Wait for rebound in market to top before many shorts: RBS, Royal Bank of Scottland. Consider small short. COF, Capital One. Consider small short position. FFIV F5 Networks. Consider small short position. CNK, Cinemark. Consider small short position. VAR, Varian Medical. Consider small short. LO, Lorillard Group, Consider small short. SODA, SodaStream Intl. Consider small short position. RHT, Redhat. Consider small short position. SFD, Smithfield Foods. Consider small short position. Aggressive Investors-Traders (Higher risk, higher reward) BBVA, Banco Bilbao. Consider small short; may last 2-3 months. Don’t get leveraged on any of these aggressive ideas. Study Bullshorts in the Wizard Training Course before attempting this high risk high reward strategy. It is best to let these peak in price and turn down before opening short. 2
  3. 3. Stock List Type Notes Open Price Close PriceCMG,CMG Chipotle Mex LONG-INT Closed all long position at 405, 236% avg. profit 163.49 367.18MNST, Monster Bev. LONG-SWI Continues marching up in strong uptrend. 42.69 53.35DLTR,DLTR Dollar Tree LONG-SWI Sold Friday for 5% profit. 97.50 102.35IDCC, Interdigital SHORT-SWI Stopped Monday for 12.5% profit. 27.31 24.25HLF, Herbalife LONG-SWI Sold Wednesday at breakeven. 45.00 45.04MO, Altria LONG-INT Higher high on Monday. 31.82LVS,LVS Las Vegas Sand LONG-SWI Stopped Thursday for 5.3% loss. 48.56 46.00CME, CME Group LONG-SWI Closed Thursday for 1.4% profit. 264.55 268.00ITUB, Banco Itau LONG- LONG-SWI Closed Thursday for small profit. 14.38 14.47FNGN,FNGN Financial Eng SHORT-SWI Covered short Friday for breakeven. 20.53 20.56SFD, Smithfield SHORT-INT Covered short Friday for 5.4% profit. 19.40 18.48HGG, HH Gregg SHORT-SWI Covered short Friday for breakeven. 10.30 10.25STLD, Steel Dynamic SHORT-INT Stopped Wednesday for 6% loss. 10.41 11.00VRSK, Verisk Analyt SHORT-INT Covered short Friday with 4 % loss. 46.51 48.34WBC, Wabco Hldgs SHORT-INT Stopped Tuesday for 5% loss. 50.64 53.00SLF, Sunlife SHORT-SWI Covered short Friday with slight loss. 21.30 21.42AFL,AFL Aflac SHORT-SWI Covered short Friday with 1.5% loss. 41.20 41.86PANL, Univ. Display SHORT-SWI Stopped Tuesday for breakeven. 31.03 31.03ROST,ROST Ross Stores SHORT-SWI Closed Thursday for 2.9% profit; re-enter lower re- 61.80 64.50UGP, Ultrapar Paricipa SHORT-SWI Stopped Tuesday for 4% loss. 20.70 21.55LVLT, Level 3 SHORT-SWI Covered short Friday for breakeven. 21.55 21.55LOGI,LOGI Logitech SHORT-SWI Covered short Friday for breakeven. 10.32 10.24RDC, Rowan Cos. SHORT-SWI Small short position. Hold time 2-3 more days. 31.68RBC, Regal-Beloit SHORT-SWI Covered Friday for breakeven. 61.24 61.24LVS, Las Vegas Sand SHORT-SWI Covered Friday for breakeven. 46.25 46.00AUXL, Auxilium SHORT-SWI Covered Friday for a 5.6% loss. 21.79 22.90CHMT, Chemtra SHORT-SWI Expecting to resume downtrend. 14.82 14.31BVN, Compania De SHORT-SWI Covered short Friday for 5.4% profit. 40.30 39.00VCI, Volassis SHORT-SWI Covered Thursday for 5.5% profit; cover 20.58 19.25LO, Lorriland SHORT-SWI Covered short Friday with slight loss. 123.76 125.32RRC,RRC Range Resourc SHORT-SWI Covered Thursday for 4% profit; consider covering 57.33 55.10ADSK, Autodesk SHORT-SWI Covered Thursday for 5.1% profit; cover Friday 33.18 31.55SHFL, Shuffle Mast AGGSHORT Looking for low $12’s to cover 14.25CENX, Century Alum LONG-SWI Covered short Friday for breakeven. 7.09 7.10NBL, Nobile Energy LONG-SWI Small long position. 83.88HLX, Helix Energy LONG-SWI Closed Wednesday for 2% loss. 15.77 15.43HUM, Human Health LONG-SWI Small long position. 78.81TARO, Taro Pharm SHORT-SWI Small short position; should resume downtrend 37.35RYN, Rayonier SHORT-SWI Covered short Friday with slight loss. 43.02 43.20CNK, Cinemark SHORT-SWI Downtrend continuing. 21.69FFIV, F5 Network SHORT-SWI Covered short Friday for breakeven. 101.43 101.17 3
  4. 4. VAR, Varian SHORT-SWI Covered short Friday for breakeven. 59.53 59.68SODA, Sodastream SHORT-SWI Consider covering short Wednesday. 34.79RHT, Redhat SHORT-SWI Covered short Friday with 2.2% loss. 53.41 54.34BEAV, BE Aerospace SHORT-SWI Small short position. 43.42SNI, Scripps Netw LONG- LONG-INT Small long position. 57.31SHW, Sherwin Will LONG- LONG-INT Small long position. 133.10COP,COP ConocoPhillips LONG- LONG-INT Small long position. 55.50ORLY, O’Reilly Auto LONG- LONG-INT Small long position. 101.75BK,BK Bank NY LONG- LONG-INT Small long position. 21.09RMD,RMD Resmed Health LONG- LONG-INT Small long position. 31.96Here are some highlights of comments and stock ideas from the LIVE Trading Room. Try a $1 trial for 1 week using thislink: http://www.tradestocksamerica.com/trading-room.phpJune 19, 2012 June 19, 2012TSA Moderator Chat TSA User Chat [05:55 am] mikewd2 -: good morning traders[06:01 am] Ed : good morning [05:56 am] eddy : gd morning all[06:37 am] Mitch K: watching for 2nd helping short on ROSG [05:57 am] joeytsa : Good morning Mitch,Ed, everyone[06:37 am] Ed : watching WBC for potetnial short [06:00 am] apple : good morning to all perky traders[06:38 am] Mitch K: watching WM for top to short [06:00 am] apple : gm joey[06:38 am] Mitch K: watching CHSI for top [06:00 am] apple : gm eddy[06:38 am] Mitch K: watching BC for top to short [06:00 am] apple : gm mike[06:38 am] Mitch K: watching HOLX for top to short [06:00 am] apple : gm E[06:40 am] Mitch K: monitoring FDX today for multple trades [06:01 am] eddy : hi apple[06:41 am] Mitch K: watching GOLD for bottom [06:01 am] khall : gm all[06:41 am] Ed : monitor the 588.50 area on AAPL, needs a [06:01 am] apple : how are you doing eddybreakthrough on strong vol, [06:01 am] eddy : hi khal[06:41 am] Mitch K: watching GNC for top [06:01 am] apple : gm khall[06:41 am] Mitch K: remember ROSG is dangerous stock, was [06:02 am] eddy : hi Edup to 24, then back to below 10 in a week, now going back up [06:02 am] khall : hi eddy, apple, Ed[06:42 am] Ed : cover WBC if u took short [06:02 am] joeytsa : gap up ; ORCL,MLNX[06:42 am] Mitch K: watching APH, ALXN GNC for top [06:03 am] apple : earnings today ADBE, BKS, FDX, JEF, JBL[06:43 am] Mitch K: watching EXXI for bottom to buy [06:03 am] apple : thx joey[06:44 am] Mitch K: OSIR best idea so far ive seen [06:03 am] joeytsa : gap down : MNST,WEX,WAG,HCP,JCP,[06:44 am] Mitch K: watching OSIR for bottom to buy [06:03 am] eddy : gap up VRNG also[06:44 am] Mitch K: watching IDCC for bottom to buy [06:09 am] joeytsa : german ZEW economic sentiment missed[06:45 am] Mitch K: watching AGNC for top to short, take time bigtime, came in at - 16.9, with 3.8 forecast[06:45 am] Mitch K: watching JCP for bottom to buy, monitor [06:12 am] mikewd2 -: watching UVXY, might have to get a little andtoday put away for a raiing day.[06:46 am] Mitch K: watching HME for bottom to buy [06:12 am] mikewd2 -: rainy[06:47 am] Mitch K: watching CNW, KORS, SM for tops [06:14 am] apple : that was some drop in ROSG -- did you take it[06:47 am] Mitch K: monitoring CELG E?[06:47 am] Mitch K: watching MJN for bottom to buy [06:15 am] lisas : gm all[06:48 am] Mitch K: watching MNST, Monster Beverage for [06:15 am] apple : hey lisa, thx, how are you todaybottom [06:18 am] mikewd2 -: nice 1pt bounce back on ROSG just not alot[06:48 am] Ed : monitoring FB for bottom to buy, would like of volmore selling [06:18 am] skydiver : gm all[06:50 am] Mitch K: watching SWY, POT, MET, WYNN for tops, [06:18 am] khall : gm skymonitoring [06:18 am] skydiver : gm khall[06:50 am] Mitch K: should be multiple trades both ways on [06:19 am] joeytsa : that was the most off in 13yrs for that germanROSG today ZEW # i posted above[06:51 am] Ed : would like more selling to 30.30 or 30ish area [06:19 am] skydiver : thnx joey and apple for info above :)on FB [06:20 am] apple : gm sky[06:52 am] Mitch K: MNST chart looking good [06:20 am] apple : thx joey 4
  5. 5. [06:53 am] Mitch K: BC toppy for short [06:20 am] mikewd2 -: oil, gold, silver all up[06:53 am] Mitch K: watching TRIP for bottom to buy, take time [06:20 am] skydiver : gm apple[06:54 am] Mitch K: RHT toppy [06:21 am] khall : wow joey, that doesnt bode well for Europe...[06:54 am] Mitch K: CHSI toppy [06:21 am] joeytsa : thats what i was thinking, germany is the big[06:54 am] Mitch K: watching health care group move today: dog there i thoughtUNH, WLP, HUM [06:21 am] Ed : no apple, was still getting situated, so did not take it[06:55 am] Mitch K: watching FDX closer [06:22 am] apple : me, too! but thanks for putting the chart up[06:55 am] Mitch K: looking for 28.44 area on EXXI long; be [06:22 am] khall : yep me tooflexible [06:22 am] khall : but they cant keep bailing people out without[06:58 am] Mitch K: FDX too strong to short suffering as well[06:58 am] Mitch K: watching BBY for top to short [06:22 am] lisas : Hi apple, doing great, how about you? Figuring[06:58 am] Ed : if u did take FB long would reduce here TS out?[06:59 am] Mitch K: MNST and OSIR two best charts today [06:23 am] mikewd2 -: thats what i was thinkin khall[06:59 am] Mitch K: letting MNST run, more upside [06:23 am] joeytsa : its a mess[06:59 am] Mitch K: consider selling half of OSIR soon [06:23 am] khall : yep[07:00 am] Mitch K: consider selling OSIR [06:25 am] apple : getting there lisa.[07:00 am] Mitch K: watching ADM for bottom, another good [06:26 am] apple : and if they are suffering, wait until the full impactchart hits...[07:00 am] Ed : SPY new hod [06:27 am] khall : whew - yes. and it will affect the US as well[07:01 am] Mitch K: BBY good chart for short, soon, toppy [06:27 am] mikewd2 -: with this all hangng over, dont understand[07:02 am] Mitch K: ALXN toppy but still stgrong why VIX is so far down[07:02 am] Mitch K: watching EDU for top to short [06:27 am] khall : me either - I was thinking that yesterday[07:04 am] Mitch K: for top to short [06:28 am] lisas : Happy BD khall[07:04 am] Mitch K: watching KORS closer [06:28 am] khall : thanks - its not till Friday officially...[07:04 am] Mitch K: monitoring M for top to short on this [06:28 am] khall : Ill be on vacation - it doesnt get any better thanrebound that[07:05 am] Mitch K: no sell signal on MNST yet but getting [06:28 am] victor51 : good morning allextended, [06:29 am] qwert : good morning everybody happy b-day khall[07:06 am] Mitch K: monitoring H [06:29 am] eddy : watching BKS[07:07 am] Mitch K: sakii posted IOC, good chart for potential [06:29 am] khall : thanks qwert :-)short [06:29 am] joeytsa : WAG nice move from bottom[07:08 am] Mitch K: MNST still strong, [06:29 am] apple : gm qwert[07:08 am] Mitch K: watching LVS for top to short [06:30 am] qwert : gm apple[07:08 am] Mitch K: watching NFLX for short [06:30 am] apple : yes, happy bday khall -- best of everything to[07:09 am] Mitch K: consider selling most of TRIP if long you![07:09 am] Mitch K: that means to keep holding MNST if long [06:30 am] khall : thank you apple![07:10 am] Mitch K: consider covering SXCI short [06:32 am] mikewd2 -: watching HLF again today[07:11 am] Mitch K: early sell signal with MNST [06:34 am] joeytsa : tighten JCP is you shorted[07:11 am] Mitch K: these stocks moving up, take your time [06:34 am] skydiver : watching FIREbefore shorting [06:34 am] mikewd2 -: VIX 17.5[07:11 am] Mitch K: watching VPHM for top to short, [06:35 am] apple : khall, where are you going?[07:11 am] Mitch K: indexes at or near highs now [06:35 am] joeytsa : FDX moving a bit[07:12 am] Mitch K: should be out of OSIR long now [06:36 am] khall : Santa Barbara - weve never been there but it[07:12 am] Mitch K: little too early for MNST sell but just posting looks beautiful[07:13 am] Mitch K: monitoring DHX, lower priced, higher risk, [06:36 am] go4it : I dont see any mod comment abovelow vol, just monitoring [06:36 am] apple : nice move joey[07:14 am] Mitch K: strong [06:36 am] apple : me either, have a simply fabulous time![07:14 am] Mitch K: as storng as MNST is, i would ignore early [06:37 am] lisas : me either go4itsell signals [06:37 am] apple : gm go[07:15 am] Mitch K: watching ENB for top to short [06:37 am] go4it : GM just checking thx[07:15 am] Mitch K: thats CHinese [06:37 am] apple : thx E[07:15 am] Mitch K: thats not ENglish [06:37 am] apple : E was busy![07:15 am] Mitch K: is that a symbol ed? or your spelling for [06:37 am] joeytsa : SXCI testing $103 resstrong? [06:38 am] apple : gm MK, thx[07:16 am] Mitch K: as you can see most of these ideas are [06:39 am] joeytsa : ES is a small rangebut GS made on ok move"bread and butter" and then tehre are these really good looking [06:39 am] apple : ES very smalll range...charts like MNST when it was setting up or OSIR, were a [06:40 am] khall : go DFS, gocouple other ones [06:40 am] joeytsa : yeah apple, maybe 2pts[07:16 am] Mitch K: watchign FMCN for top [06:40 am] apple : i am looking for the 30 min BO[07:17 am] Mitch K: on those really extreme moves, those are [06:41 am] apple : nice on WBC Emore dangerous so you can wait, get good money after a [06:43 am] joeytsa : ES lod areareversal started. ok to be late on those really big movers [06:43 am] joeytsa : 1337 was overnight low, trading near 1344 now[07:18 am] Mitch K: that early sell signal on MNST coming back [06:44 am] apple : yes correctagain, but still strong [06:44 am] joeytsa : thx Mitc[07:19 am] Mitch K: seems like quality increased, just started [06:44 am] joeytsa : Mitchusing new versino of custom scanner [06:45 am] skydiver : FSLR - rumor 5
  6. 6. [07:19 am] Mitch K: you guys like what I am posting? [06:45 am] apple : FDX climbing[07:19 am] Mitch K: monitoring MMR [06:46 am] apple : OSIR good one MK[07:19 am] Mitch K: watching GTI for top to short, take time [06:49 am] apple : FB tumbling down[07:20 am] Ed : SPY new hod [06:49 am] apple : ver tight range on ES joey[07:20 am] Mitch K: it is easier to find ideas throughout day [06:50 am] apple : thx MK[07:22 am] Mitch K: jsut so you guys know where we are at with [06:50 am] joeytsa : got a bit wider, 1347 still a res areaLightning system, we are working on it 7 days a week, nights, [06:51 am] apple : broke hodweekends, constantly. no birthday celebrations, no fathers day, [06:52 am] joeytsa : CRM runningno vacations. trying to get earlier, faster and more accurate [06:52 am] joeytsa : might get tired heresignals. Also trying to color or paint an area when we suggest [06:52 am] mikewd2 -: MNSTnot to trade, a sort of "NO TRADING" warning on chart [06:52 am] skydiver : CRM moving up nicely[07:23 am] Mitch K: you see why you want to pay attention to [06:54 am] joeytsa : KORS cons on supportthose early sell signals, like on MNST,? they usually mean [06:56 am] joeytsa : nice little move on FBsomething [06:56 am] skydiver : yeah joey on FB[07:26 am] Mitch K: monitoring UTX for top to short [06:58 am] skydiver : thnx Ed[07:29 am] Mitch K: MNST giving another weak buy signal [06:58 am] joeytsa : FB back to prev cl[07:30 am] Mitch K: to buy [07:00 am] mikewd2 -: nice V in FST[07:30 am] Mitch K: watching ORCL for bottom [07:02 am] sakii : IOC[07:31 am] Mitch K: the blue marker i mentioned tht was early [07:06 am] Mitch K: thanks sakii, good onesell signal [07:07 am] lisas : Hi Richard sakii![07:31 am] Mitch K: we are trying to get this a little better but is [07:08 am] sakii : Hi lisasvery good [07:11 am] skydiver : all out of CRM S[07:31 am] Mitch K: this is MNST [07:11 am] joeytsa : great trade sky[07:32 am] Mitch K: we wont release this until it is absolutely [07:11 am] Ed : nice short skysuperb, [07:11 am] joeytsa : hit res and came right down[07:32 am] Mitch K: there was a sell signal on that arrow to left [07:11 am] mikewd2 -: HLF hitting some resistance[07:33 am] Ed : thx joey,qwert [07:11 am] skydiver : been busy morning - rode CRM up and then[07:33 am] Ed : watching WPRT for potential short rode it down[07:41 am] Ed : you guys take profits on that drop on WPRT? [07:12 am] apple : nice on VPHM[07:44 am] Ed : getting pullback in SPY [07:12 am] joeytsa : thats how you do it[07:45 am] Mitch K: consider covering most of RHT [07:12 am] skydiver : learning from the best :)[07:45 am] Mitch K: hope you guys did good with EXXI long and [07:14 am] joeytsa : ES testing 1350then a short [07:14 am] Ed : SCRON[07:53 am] Mitch K: watching ICE [07:15 am] Ed : my spelling for strong[07:53 am] Ed : SPY trading near high [07:15 am] Ed : ENGRISH[08:04 am] Ed : gettng pullback in SPY [07:15 am] khall : LOL[08:13 am] Mitch K: consider covering most of IOC short [07:16 am] apple : haha[08:45 am] Mitch K: watching MON [07:16 am] joeytsa : some really nice moves today[08:58 am] Ed : SPY trading at HOD [07:16 am] apple : now we all know engrish[09:08 am] Mitch K: watching WLT [07:17 am] apple : thx MK[09:10 am] Mitch K: watching NSM [07:17 am] joeytsa : thx Mitch, MNST was a beauty[10:10 am] Mitch K: watching SM [07:19 am] joeytsa : heck yeah[10:32 am] Mitch K: Index is powering up [07:19 am] khall : YES![10:56 am] Ed : getting pullback in SPY [07:19 am] qwert : oh yeah awesome[10:57 am] Mitch K: monitoring WLT again [07:19 am] jane227 : u bet! :)[11:11 am] Mitch K: watching SXCI [07:19 am] apple : yes, of course![11:18 am] Mitch K: watching ORLY [07:19 am] gub : very good and accurate Mitch![11:26 am] Ed : gewttin pullback in markets [07:20 am] apple : excellent![11:37 am] Mitch K: monitoring MPC [07:20 am] skydiver : very nice Mitch[11:53 am] Mitch K: and all you do is short and then look for [07:20 am] qwert : nice!!!!something else until you get a signal [07:21 am] joeytsa : thats what i like best about you Mitch, not only[11:53 am] Mitch K: we missed this long but the short is where I do you do a great job, but you still look to improve thingsgave youa headsup [07:21 am] mikewd2 -: brown-noser![11:54 am] Mitch K: this is WLT, Walter [07:21 am] mikewd2 -: ol[11:54 am] Mitch K: and when you hear an audio alert, you look [07:21 am] qwert : hahahaat one window [07:22 am] apple : ES over 1351[11:55 am] Mitch K: just a sec, let me show you another one [07:22 am] joeytsa : :)[11:56 am] Mitch K: this SXCI and here what you can do is short [07:22 am] khall : cool beansanytime without being precise and i saw it about here [07:22 am] qwert : super[11:57 am] Mitch K: then find out what stock it was on one [07:22 am] skydiver : sounds fantastic Mitch!single alert window and cover the short in this case [07:22 am] lisas : appreciate it Mitch![11:57 am] Mitch K: and you dont stress out but look for other [07:23 am] apple : you are wonderful MK, bless you!stocks, open positions, maybe 4-5 other open positions and just [07:23 am] cowboyh : Thanks Mitchwait for audio alerts, [07:23 am] mikewd2 -: nice[11:58 am] Mitch K: thats 16 minutes there you can be short [07:23 am] apple : hey cowboy, how are youand i was late to see anyhow [07:23 am] cowboyh : Great apple 6
  7. 7. [12:00 pm] Mitch K: so basically it is a management of time and [07:23 am] qwert : watching ORCLyour activity changes [07:24 am] apple : good to hear[12:01 pm] Mitch K: here was one earlier i mentioned on MON, [07:25 am] joeytsa : sky: did you get that last run up on JOY?Monsanto for short but look how many repeated trades there [07:26 am] apple : nice on JOYwere and thats where this is a game changer [07:26 am] khall : man, I totally missed that - looking at eveything[12:03 pm] Mitch K: and all this is low maintenance, low stress. else under the sun, and it was on my radar today tooallows you to handle a big workload, [07:26 am] joeytsa : same here, was too busy lookin at other stuff[12:03 pm] Mitch K: mentioned this around 853am pacific time, [07:27 am] joeytsa : ROSG testing $17 nowmake 0.5%, not big money but another good long here [07:28 am] joeytsa : g20 going on, fomc tomorrow[12:04 pm] Mitch K: not every single signal is good profits but [07:28 am] skydiver : no joey - missed the run up on JOY :(you make a lot of big profits you maximize potential [07:29 am] apple : SPY hod[12:05 pm] Mitch K: but you cando a lot of these at the same [07:29 am] qwert : watching WPRTtime [07:29 am] joeytsa : me 2 qwert[12:06 pm] Mitch K: that was RHT [07:30 am] joeytsa : eye on ALXN also[12:08 pm] Mitch K: are you short MPC victor? [07:30 am] victor51 : Mitch, great picks and best day for me. Thanks[12:08 pm] Mitch K: ok last one victor, MPC [07:30 am] joeytsa : very nice victor[12:09 pm] Mitch K: this is MPC victor [07:30 am] Ed : nice going victor[12:09 pm] Mitch K: because it gave a buy to cover signal [07:30 am] qwert : nice victor[12:09 pm] Mitch K: This MPC short is not working [07:31 am] skydiver : good job victor :)[12:10 pm] Mitch K: There are so many ways to use this, this is [07:31 am] apple : congrats victorgoing to give many times more trades to you, multiple more [07:31 am] apple : nice MK[12:10 pm] Mitch K: the clue i look for is how long does it take to [07:31 am] qwert : awesome mkbreak down and how it acts during that time [07:32 am] qwert : can we fire it up tomorrow :))[12:12 pm] Mitch K: thats not what i like [07:33 am] apple : we appreciate that MK[12:12 pm] Mitch K: what is interesting about that MPC trade [07:33 am] joeytsa : lower high on GS, just watchingvictor was how long it took to give a signal so that tells you it [07:33 am] apple : thx Ewas strong even after it peaked [07:34 am] apple : and joey and qwert[12:13 pm] Mitch K: no, i dont like that. but i kept scanning [07:35 am] mikewd2 -: HLF up $1 todaylooking for other ideas [07:36 am] apple : good one mike[12:13 pm] Mitch K: that was 9 candles after peaked X 2 [07:36 am] joeytsa : ORCL to test $28minutes each = 18 minutes [07:36 am] joeytsa : alo watching SXCI[12:14 pm] Mitch K: when you guys see a flatline like that...... [07:37 am] joeytsa : alsoyou should consider not trading whatever instrument that is and [07:38 am] joeytsa : see you all in a bit, make good trades :)we are going to paint a colored block in that area to suggest not [07:38 am] apple : nice moves on SXCI joeyto trade [07:38 am] skydiver : take care joey - enjoy[12:15 pm] Mitch K: that will be particularly important during [07:38 am] apple : have funfutures trading as well [07:39 am] khall : see ya joey[12:21 pm] Mitch K: watching TSO [07:40 am] jsn13 : qwert, did u take ORCL long? where did u take[12:48 pm] Mitch K: its not what you think it is it?[12:48 pm] Mitch K: Got an interesting stock for you, its ED [07:41 am] khall : jsn, I took it long at 27.80[01:00 pm] Mitch K: See you tomorrow everyone [07:41 am] qwert : i got 1/2 off ed[01:00 pm] Ed : have a great night traders [07:41 am] cdougan : Yes Ed, simluated profits... I will buy lots of great stuff with my sim profits [07:42 am] qwert : still have 2nd 1/2 [07:42 am] apple : and have sim fun cd [07:42 am] Ed : really its all paper until its converted [07:42 am] cdougan : ha [07:42 am] jsn13 : qwert, what time was ur entry? [07:43 am] apple : all an illusion [07:43 am] qwert : 7:34 pst [07:44 am] qwert : jsn just saw your post about ORCL i missed it was looking at something else [07:45 am] Ed : hey eddy, u talk to ur broker about commissions [07:45 am] scalpman : VPMH S @ 22.93 [07:45 am] jsn13 : ok thanks khall and qwert....no prob.... [07:45 am] khall : welcome [07:45 am] qwert : sure thing jsn [07:45 am] eddy : not yet Ed cos i need to move to ninja ot TS will have to change broker anyway [07:46 am] Ed : ok [07:46 am] qwert : nice on vphm scalpy [07:46 am] go4it : P down 6% [07:46 am] eddy : u have any broker u recommend? [07:46 am] scalpman : Thanks Qwert [07:47 am] Ed : Tradestation is really good and I forget the other [07:47 am] apple : tradestation is great so far... 7
  8. 8. [07:47 am] lisas : They are so good Ed wants to keep them secret[07:47 am] Ed : lol[07:47 am] eddy : but wit TS we can use MK new device?[07:47 am] qwert : Apple you like TS better than lightspeed[07:48 am] Ed : thats a question for lisa, she is expert on that[07:48 am] apple : oh, yes, very much. i like the matrix. and yes,lisa is our expert[07:48 am] skydiver : humm - I may have to open up an accountwith TS now with such good comments :)[07:48 am] mikewd2 -: Mitch, how long after you release your newsystem for nina unti reles for TS?[07:49 am] qwert : Apple, Has it been hard to transition[07:49 am] eddy : Mitch is saying we can use lightnig only on ninja[07:49 am] skydiver : That will give me a good excuse to close myold Scottrade account[07:49 am] eddy : so wat will u guys do?[07:49 am] mikewd2 -: Im on TS and love it[07:49 am] skydiver : so - good question -- is TS fairly easy tolearn?[07:49 am] mikewd2 -: commissions a bit high on higher number ofshares than etrade[07:50 am] eddy : Mitch if we use TS we can utilize lightning?[07:50 am] mikewd2 -: Joey is moving to TS this week als[07:50 am] Ed : lisa said there is a way to make it work eddy[07:50 am] apple : a little bit sky, i need to spend more time learningthings on it, but i love the desktops, workspaces and charts[07:50 am] mikewd2 -: also[07:51 am] eddy : lisa u r out TS coach then[07:51 am] apple : i really love the charts[07:51 am] skydiver : thnx apple[07:51 am] qwert : Apple so you use there charts no more esignalfees[07:51 am] apple : yes, tg. it was way too expensive[07:51 am] Ed : yes lisa was nominated[07:51 am] skydiver : that would be nice to save fees on esignal[07:51 am] apple : no kidding...[07:51 am] qwert : nice i could go out for dinner[07:52 am] apple : where is lisa now?[07:52 am] lisas : Im watching the market[07:52 am] mikewd2 -: chart trading on TS, very similar to ninja[07:52 am] apple : thx lisa, hows it doing?[07:52 am] apple : yes mike[07:52 am] lisas : I told it to go up, I even pointed on my chart whereI wanted it to go, so you can all go long now[07:53 am] mikewd2 -: that was a fact apple, not a question[07:53 am] mikewd2 -: haha[07:53 am] apple : youre a doll, lisa, many thanks. SPY is listeningto you[07:53 am] mikewd2 -: Ive been on TS since december[07:54 am] apple : i was agreeing with you mike. better trading foryou with TS?[07:56 am] akram : invn[07:56 am] lisas : Eddy, you will have to use both TS and Ninja forLightening. You can get free Ninja, use TS data to chart. Then enteryour orders in your TS account. As far as Ive been told, there is nocost to use Ninja unless you use one of their partner brokers (whichTS is not, but you can still us TS data for charts)[07:56 am] victor51 : Mike, I am thinking to go chat trading on TS.Any pointers[07:57 am] mikewd2 -: Ive actually only used it a couple times[07:57 am] eddy : ok ill check this out with them[07:58 am] qwert : thx akram for invn[07:58 am] scalpman : Mitch, could you comment on ICE at thispoint..[07:59 am] mikewd2 -: Ed, have you heard when the new system willbe ready for TS. Mitch didnt answer.8
  9. 9. [07:59 am] qwert : huge spread on ice[07:59 am] scalpman : ARe we lookin for a higher LOW[07:59 am] scalpman : 135.21[08:00 am] Ed : no, just that he is tryn for rollout within 30 days[08:00 am] mikewd2 -: for which trading platform?[08:00 am] Ed : sorry, no have not heard as far as other platforms[08:00 am] apple : i was figuring by the end of July because he saidearlier about 4-6 weeks[08:01 am] apple : about 40 ideas so far this morning...[08:01 am] Ed : i misread ur Q, mike[08:02 am] qwert : lots of really good ones to apple[08:03 am] apple : yep, just the way we like em![08:04 am] qwert : :0[08:04 am] skydiver : thnx for all the good info and great callstoday!! see you all tomorrow morning[08:04 am] Ed : c ya sky[08:04 am] qwert : cya sky[08:04 am] apple : have fun sky[08:04 am] skydiver : :)[08:05 am] eddy : bye sky[08:05 am] khall : bye sky[08:07 am] scalpman : test[08:08 am] Ed : hey scalp, ice tends to trade on light vol side butgives nice moves, so sure Mitch was lookn for botttom on it to buyfor long[08:09 am] scalpman : Thanks Ed...it didnt pullback...kept going inV pattern...I missed.[08:09 am] Ed : so u had some bottoming action at 10:52 and 10:53est[08:10 am] Ed : it was easy to miss due to light v3ol[08:10 am] scalpman : Yes...I see...but how to tell if you are going toget a v or more sideways...?[08:11 am] Ed : on ICE due to light vol best to use like 2 or 3mincharts, this 3min[08:11 am] Ed : u see how that v on left is setting up[08:11 am] mikewd2 -: right Ed, looks a bit more prenounced on 3mn[08:12 am] Ed : or rather start of pattern[08:12 am] Ed : u can put ICE,CME in sane catefory nice moves butlight vol[08:13 am] Ed : right mike[08:13 am] scalpman : so the 2 -3 minute charts are "morereliable?"[08:13 am] Ed : does that look little different for you scalp on that3min chart[08:14 am] apple : scalp, it takes out a lot of noise on largertimeframes[08:14 am] scalpman : yes[08:14 am] scalpman : slightly[08:14 am] Ed : matter of preference but on light vol stocks best touse 2/3 min at the least, the 1min can give lot of false signals[08:14 am] Ed : in general[08:14 am] scalpman : thats a gppd tip[08:15 am] apple : FDX hod[08:15 am] scalpman : All out VPHM on last piece[08:16 am] Ed : just for me, I really like trading on 1minm andsometimes will still glance at 2min or even a a5min if stock is atrender[08:16 am] Ed : doji must be traveling[08:17 am] apple : good job scalp[08:17 am] scalpman : Thanks apple[08:17 am] apple : E - otherwise he would have something to say,for sure[08:17 am] Ed : exactly[08:17 am] qwert : hahaha[08:18 am] apple : we love doji[08:20 am] scalpman : SPY at support9
  10. 10. [08:26 am] apple : nice move on WYNN today[08:34 am] jsn13 : Ed, for wynn, is 11.24 bar the breakout entry?[08:37 am] eddy : the screen id distoreted is it just me?[08:38 am] eddy : which stock is this?[08:38 am] Ed : LPN, no trade, was watching for more selling[08:40 am] Ed : yes good eye, Jason[08:41 am] jsn13 : thanks ed....but for adm its abit tough right?[08:41 am] Ed : all about pattern recognition, see some breakoutswill offer lot of money, some a little, u just have to stay consistent onur apprpach[08:42 am] eddy : how wud one know the potential of the trade[08:42 am] jsn13 : ok sure....thanks....[08:42 am] eddy : we get out too earlt it spikes[08:42 am] eddy : we stay in the trade we get stopped at BE[08:42 am] eddy : hard to get it right[08:43 am] eddy : i meant different occurences of different trades[08:46 am] Ed : great question, this is where flexibility comes, u puton the trade once u see pattern and place ur stop, and manage thetrade (profit exits), see markets are uncertain as in anything canhappen, so if ur consistent in ur approach (not chasing, taking signalwhen u see it, taking profits as market makes money available toyou, or taking ur loss when ut stopped) ur trading will become moreprofitable and consistent.[08:47 am] Ed : i know easier said than done, thats why one has towork on it[08:49 am] jsn13 : what can we do to have a better instinct as towhen to grab profit?[08:49 am] garyb : Hi all! Was busy last couple of days with theES....what a trip! Im likin the e-minis[08:50 am] khall : hey gary[08:50 am] garyb : Hey Katrina! :) How is the trading going?[08:50 am] Ed : what hurts many traders is when we get out of sync,chasing, thinking about money in trade,giving stops more room,trying to make up for losing trade, list goes on[08:50 am] Ed : hey gary[08:50 am] garyb : Hi Ed![08:51 am] Ed : so we will call u GaryE from now on[08:51 am] garyb : ahhh yes! put a $ at the end too! GaryE$ lol[08:51 am] Ed : lol[08:53 am] garyb : Im finding out Tradestation is very buggy...well9.1 is anyway. Will probably go back to 9.0[08:54 am] jsn13 : U mean GaryEmoney?[08:54 am] garyb : Yes! Lovin it! I sound like a cool rapper![08:54 am] Ed : great question again jason, again its matter ofpreference on profit taking. Ex some wil take profits at % levels,others may use support/resistance, some fibonacci[08:54 am] Ed : all u need now is a clothing line[08:55 am] lisas : Try calling tech first gary, mine is running fine[08:55 am] jsn13 : a consistent way? how do u exit MNST ed?[08:55 am] Ed : do u ever do the updates gary[08:56 am] Ed : how do "I" exit?[08:56 am] garyb : Well....Im doing some crazy things on TS sothats what is happening...it cannot take the G$ pressures![08:56 am] Ed : I learned long ago, never do the updates[08:56 am] garyb : I agree Ed. Some say they will get better nowthat they were bought out[08:56 am] garyb : well see[08:57 am] jsn13 : yeah how do u sclae out or take profits on mnst?[08:57 am] Ed : i take my profits based on areas ofsupport/resistance of how I have my charts setup[08:58 am] scalpman : Ed...comment on MON...where was the sellsignal...?[08:59 am] jsn13 : ok so u took some off mnst at 76.40 area?[08:59 am] jsn13 : the 8 sma?[09:00 am] Ed : for me scalp 11:45 was my signal[09:00 am] scalpman : If the sell signal is the 2nd red bar of the10
  11. 11. lower HIGH, and the price is 80.90 because we are looking late...doyou enter are what for another pull slight rebound.[09:00 am] scalpman : or wait...[09:01 am] scalpman : in this instance I an enter would have beenprofitable.[09:01 am] jsn13 : my entry was 75.96, out half at 76.30 then 2ndhalf at 76.60...way too early...[09:01 am] Ed : 7660ish area[09:01 am] Ed : what time scalp, make sure we are on same page[09:02 am] Ed : also which timeframe on chart scalp?[09:03 am] scalpman : 1 minute[09:03 am] Ed : entry there is fine scalp[09:04 am] scalpman : The lower HIGH combined with 2nd red bardown...was a pretty strong signal...[09:04 am] Ed : yes that entry was fine[09:05 am] Ed : u also had stochastics confirming if u use them[09:05 am] scalpman : I do use them...[09:05 am] Ed : cool[09:08 am] scalpman : Ed, 11:45 on the 1 minute chart is still agreen bar...how was that your signal?[09:08 am] sakii : NSM[09:08 am] eddy : lisa u there?[09:10 am] scalpman : Will have to pass on NSM...but it looks good.[09:10 am] scalpman : Time to go...in the green today...so that isencouraging.[09:10 am] scalpman : See you all tomorrow.[09:10 am] Ed : its a doji bar, it tells me that buyers should becautious, it is also at area of resista[09:10 am] khall : bye scalp[09:10 am] scalpman : I see...I will study...[09:11 am] Ed : c y scalp[09:11 am] scalpman : Bye khall...make those next two tradesguys...[09:11 am] scalpman : Scalpman has left the building![09:14 am] eddy : s NSM 19.89[09:26 am] apple : gary!!! i had to upgrade to 9.1 because ofoptionstation[09:28 am] garyb : Appppllllleeeee![09:29 am] apple : ES is consolidating now[09:29 am] garyb : ES=Sleepy time today![09:30 am] apple : gary, i will talk to you later, yes, very[09:30 am] mikewd2 -: Ive been running 9.1 latest version to run theviolatility score[09:30 am] mikewd2 -: no issues what soever[09:31 am] eddy : Ed this NSM is a good exmple[09:31 am] eddy : i moved my stop down to 19.78[09:31 am] garyb : I crash...loading in a lot of data for backtesting...then I do forward optimization....my 9.1 crashes then[09:31 am] eddy : got stoped with .6& profit[09:32 am] eddy : i shud have kept stop at BE which was 19.89?[09:34 am] lisas : Im back, did you have a question Eddy?[09:34 am] Ed : understand, sometimes matter of emotionsgoverning our trade decesions rather than being objective no wishfulthinking or hope, or fear of loss[09:34 am] jsn13 : ed, did u tarde NMS or IOC in the am?[09:34 am] jsn13 : *trade[09:34 am] Ed : no[09:34 am] jsn13 : not high probabilty for both?[09:35 am] Ed : did not really look at them[09:35 am] apple : right E, being systematic in your approach helps,if this, then that[09:35 am] jsn13 : ok....if u see them would u take them short?[09:36 am] Ed : ok now I recall IOC, think someone from room gaveus that one[09:36 am] apple : looking for levels of support or resistance to takeprofits11
  12. 12. [09:37 am] Ed : IOC was nice one, but did not take it, if that sametrade came again I would be on the train[09:38 am] jsn13 : i took IOC short at 10.07 bar at 70.57 and gotstopped above hod....was that a bad entry?[09:39 am] apple : fyi - sakii posted IOC[09:39 am] Ed : at that point needed more confirmation[09:39 am] jsn13 : one thing i realised is that it was abit trendy but istill took it bcos i saw the bearish engulfing signal...[09:39 am] Ed : oh yea thanks sakii[09:39 am] mikewd2 -: garyb: you still in the room?[09:40 am] jsn13 : after high volume thought there was somewhatexhaustion....[09:40 am] sakii : YW[09:40 am] sakii : not a symbol...sorry[09:41 am] apple : we get it, thx[09:41 am] Ed : we understood, plus could not get buy order for1million shares of YW[09:42 am] jsn13 : ed, where would u enter IOC or NMS short?[09:42 am] apple : i gotta leave early to help a friend with a bus.proposal - great calls today. Thx MK, E and everyone. all have afun day. i will be out tomorrow and maybe thurs.[09:42 am] lisas : Bye apple[09:43 am] Ed : hurry back apple and have fun[09:43 am] eddy : yes lisa[09:43 am] eddy : ninja traders wud not be free to use[09:43 am] eddy : because u wud need the data which is US$50 permonth[09:44 am] apple : fyi - before i go, jsn look on the 3 min. chart forIOC, much more clear[09:44 am] eddy : and naturallu NSM tanks now that i am out of thetrade[09:44 am] Ed : IOC at 10:21[09:45 am] apple : yes[09:45 am] Ed : agree with apple, if not clear look at larger timeframe[09:45 am] jsn13 : thank apple for the advice....[09:45 am] khall : Ive been looking at larger timeframes, and itshelped me a LOT[09:46 am] jsn13 : ed, so u typically look for more than 2 candlesticksignals to confirm the area of resistance to short? if it is notconvincing..[09:47 am] Ed : when I have a stock like IOC, right I need what I callstrong confrimtaion[09:48 am] Ed : even on 2min on IOC one can see topping action[09:48 am] jsn13 : but even at 3min i saw very nice red bar closedafter peak volume...so in this case, still might be tricked....but 3 minstoch on starts turning down later....[09:49 am] Ed : true[09:50 am] jsn13 : i guess cos its trending that we need moreconfirmation....[09:50 am] Ed : right or go in much smaller than normal, like if utrade 500 shares go in with 200 as example[09:51 am] jsn13 : true cos we dont want to miss out if they gavegood signal right?[09:51 am] Ed : never worry about missing out[09:52 am] jsn13 : ok oppppssss wrong thought....[09:52 am] Ed : always think countless opportunities, but many timesu will have to work a trade so u want some ammo to play[09:52 am] jsn13 : ok now for NSM, where would u tkae short?[09:53 am] Ed : we will go over couple of charts later close to closingtime[09:53 am] eddy : hey mike u there?[09:54 am] eddy : ok im calling it a nite#i have a dinner[09:54 am] eddy : will see you all tomorrow[09:54 am] jsn13 : ok nice ed....thanks alot....[09:54 am] eddy : thx for evrything[09:54 am] joeytsa : bye eddy12
  13. 13. [09:54 am] shark : bye eddy[09:54 am] lisas : bye eddy[09:54 am] Ed : c ya eddy,[09:54 am] eddy : lisa will get in touch on FB for the TS/ninja[09:55 am] eddy : bye all[09:55 am] lisas : OK eddy, talk later[09:55 am] lisas : There goes the market trying to break 1353[09:56 am] joeytsa : looks like it mihgt want 1360[09:56 am] joeytsa : then the big flush??[09:56 am] lisas : at least 1356, next target[09:57 am] Ed : so what should I do, bet on black?[09:57 am] lisas : orange[09:57 am] Ed : lol[09:57 am] joeytsa : GS testing $97 res[09:59 am] shark : tomorrow, Ed?[10:00 am] Ed : yes, been having issues today with that 31.80isharea[10:00 am] Ed : but its been trying[10:00 am] shark : ahhh... gotcha[10:01 am] shark : DIA hitting 100day res area[10:02 am] Ed : hey mike for the volitility scanner in TS is that foroptions?[10:02 am] shark : SPY broke over 50day today, now 100day resarea[10:03 am] lisas : Need to learn more about that, even if for options,its probably based on underlying equities[10:03 am] Ed : right[10:03 am] Ed : last time I tried to configure for stocks it was notwhat i wanted[10:04 am] lisas : dont you use some kind of volume expansion Ed?[10:04 am] Ed : volitility, but I have been using it in etrade[10:05 am] sakii : Ed.. Its fairly new...for Stocks too...Volatility Score- $Volatility Score (Version 2)[10:05 am] lisas : Is that an indicator Richard? Can you put it inradar screen?[10:05 am] Ed : in tradestation?[10:06 am] sakii : Yes lisas[10:06 am] Ed : when I talked to tech last time which has been leastyear they did not have it[10:07 am] lisas : I dont see it, is it only on the options workspaces?[10:07 am] Ed : how does it give scoring -1,-2,-3 and 1,2,3. Thatswhat I had been looking for[10:09 am] Ed : if not will continue to use etrade for volitility scanner[10:13 am] sakii : Ed, it gives values like 5.881 and 0.703[10:13 am] mikewd2 -: for the violitility score you have sign up or itand they add it via strategy network to your account in TS[10:13 am] Ed : hmm, thx will keep using what i have[10:13 am] lisas : sakii, is it a hot list, or an indicator to add to chart?[10:14 am] lisas : thanks Mike[10:14 am] sakii : Watching VHC[10:14 am] jsn13 : ed, that s a nice example of breakout of hodright? missed it...[10:16 am] Ed : nice one sakii[10:16 am] mikewd2 -: make sure you have Version 9.1 update11891 or vioitility score wont load.[10:17 am] Ed : yes jason[10:17 am] lisas : Mike, do you sign up for it on the data feedaccount page?[10:17 am] mikewd2 -: i think so lisas[10:18 am] mikewd2 -: its a free subscription - cant remember wherei found it[10:19 am] sakii : Same with me lisas...I will let you know tonight, ok[10:23 am] lisas : thanks[10:25 am] mikewd2 -: lisa: go to the strategy network under theclient center. select stocks and it will be show up there.[10:26 am] lisas : Thanks Mike!13
  14. 14. [10:26 am] mikewd2 -: once they set you up you launch it from thestratgy network under the tools in the platform.[10:27 am] mikewd2 -: it then shows up as an indicator like all therest.[10:30 am] go4it : UAN short?[10:31 am] mikewd2 -: UAN moved to 50day moving avg[10:31 am] Ed : too strong on daily eventhough coming intoresistance, better play was on long, may give some money on shortbut would pass[10:32 am] lisas : Oh, I was just checking this area of TS out lastweek, never used it before. Thanks Mike and Richard[10:32 am] Ed : also kind of thin on vol side this time of day[10:34 am] mikewd2 -: WLT having nice day[10:34 am] go4it : Thx Ed[10:35 am] Ed : no problem[10:37 am] garyb : Mike...just got your FB message[10:38 am] garyb : You should be good at 11.70...Im in at11.90...you beat me again! :)[10:39 am] Ed : there is breakout pattern for u to study jason on aapl[10:39 am] qwert : volume spike on SM[10:41 am] jsn13 : ok thanks alot ed....[10:41 am] Ed : after trading in range,[10:42 am] jsn13 : 10.36 is the entry..[10:42 am] jsn13 : right?[10:42 am] jsn13 : similar to ROSG that u showed me yesterday...[10:42 am] Ed : yes[10:43 am] Ed : see study that particular pattern build memory log[10:43 am] qwert : SM givin it up :)[10:43 am] jsn13 : yup very true....haha once u know the materialson concrete way...much easy to make since out of it...[10:44 am] jsn13 : *make sense...[10:45 am] Ed : and it will be uncertain how market gives u breakout,be it 1%,2% light vol, or strong, this is wher u must come consistenton ur apporach u take[10:46 am] jsn13 : got it ed....be flexible yet consistent with asystem...[10:46 am] Ed : right, thats why consistency is within you, the trader,dont expect markets to be consistent[10:48 am] jsn13 : ok nice....got it....thank u for the reminder...ddi utake SM short at 1.39pm bar?[10:50 am] Ed : I tried but did not get filled that time, did get aaplthough[10:50 am] jsn13 : u mean the breakout or the short?[10:50 am] Ed : breakout[10:51 am] jsn13 : ok thanks ed...whta scnner u use to help u findthose good ideas?[10:51 am] jsn13 : cos by the time i see the calls, i already missedthe good entry....[10:51 am] Ed : Mitch found SM[10:51 am] jsn13 : saw that...[10:52 am] Ed : u had plenty of time on SM[10:52 am] Ed : I always have AAPL chart up[10:53 am] jsn13 : though i was late on SM breakout so did not takeit...dont wan to chase....is it a good idea to keep track of somestocks everyday?[10:53 am] Ed : right[10:53 am] jsn13 : i mean several stocks that often give goodswings?[10:54 am] Ed : good trades[10:54 am] jsn13 : ok will satrt to find some good stocks tofollow...wanna find some atm machines...[10:54 am] jsn13 : like what joey said...[10:55 am] Ed : right[10:59 am] jsn13 : ed, is 10.20 bar a good continuation of uptrendon WLT long? held 48 support. and broke hod with increasingvolume..14
  15. 15. [10:59 am] jsn13 : 10.20 am bar on WLT as entry for long...[11:01 am] Ed : just me personally, if I miss 1st breakout Id ratherwait on pullback[11:02 am] qwert : watching ATK[11:06 am] jsn13 : ATK short at 48.72..[11:11 am] jsn13 : ed, where is the 1st breakout that u meant?[11:11 am] qwert : FB at 32[11:14 am] Ed : was speaking in general[11:14 am] jsn13 : ok thanks....[11:20 am] Ed : I will still watch it 2morrow qwert[11:20 am] qwert : for sure[11:31 am] mikewd2 -: test - big rain storm, lost internet[11:31 am] khall : I see you mike[11:32 am] mikewd2 -: thanks[11:32 am] khall : sure thing[11:33 am] mikewd2 -: VIX moving up[11:33 am] garyb : Mike I got some UVXY like you did...lets seewhat happens...its offered at discount prices! :)[11:33 am] garyb : well this morning[11:33 am] mikewd2 -: VIX moving[11:34 am] mikewd2 -: yeah, i got 11.70 but i wrote covered calls onthem[11:36 am] mikewd2 -: little move conservative, but still could makesome good money.[11:39 am] lotus : jcp[11:39 am] mikewd2 -: FST at 7[11:46 am] eyes : Hello Everyone[11:47 am] qwert : eyes hows it goin[11:47 am] eyes : Good just checking in on you all[11:47 am] mikewd2 -: hey eyes[11:47 am] Ed : EYES[11:47 am] qwert : we miss you[11:47 am] joeytsa : can you see me now :)[11:48 am] eyes : Me too[11:48 am] skydiver : hey eyes -- I just popped on looking to seewhats up and there you are :)[11:48 am] eyes : I just signed in Sky just saying Hy to everyone[11:49 am] skydiver : well -- great to see you eyes :)[11:49 am] qwert : when are you coming back[11:49 am] eyes : I am not shure yet[11:51 am] eyes : So how have all of you been[11:53 am] jsn13 : Mitch, what stock is this?[11:53 am] joeytsa : eye, that is Mitchs new system[11:54 am] eyes : hows that working is it up and running[11:54 am] qwert : not yet eyes[11:56 am] mikewd2 -: Look very similar to my Heiken Ashi chart in2min[11:57 am] jsn13 : in that where would ur stop be mitch?[11:59 am] eyes : so when is it going to be ready[12:00 pm] qwert : i think he said in about a month eyes[12:00 pm] eyes : I have been gone for a month that was a monthago[12:01 pm] qwert : wow already been a whole month[12:01 pm] mikewd2 -: Mitch, what the difference between your chartand Heiken Ashi 2min chart?[12:01 pm] eyes : a couple of days shy but pretty close[12:02 pm] mikewd2 -: so eyes have you moved back?[12:03 pm] eyes : I am In Iowa but my home did not sell so thefamily is going back[12:04 pm] khall : bummer....[12:06 pm] eyes : I got to go with the flow sometimes things happenfor a reason[12:06 pm] Ed : true[12:06 pm] jsn13 : Mitch what stock is that?[12:06 pm] lisas : Well, dont do your rollout webinar the week ofJuly 12th!15
  16. 16. [12:07 pm] lisas : because I dont want to miss this.[12:07 pm] victor51 : Mitch, can you show us current MPC[12:08 pm] lisas : y[12:09 pm] victor51 : yes[12:09 pm] lisas : not anymore[12:09 pm] lisas : stopped[12:09 pm] jsn13 : Means u get stopped earlier when it is notworking??[12:10 pm] qwert : mk is there a signal there anywhere to short[12:10 pm] lisas : seems like it would be great to monitor the daysstrong stocks to see which ones pop at end of day[12:10 pm] victor51 : Thanks Mitch. It was right on[12:11 pm] eyes : Well It was nice talking to you all call me sometime QWERT got to go[12:12 pm] Ed : take care eyes[12:12 pm] qwert : i will eyes[12:12 pm] khall : see you soon eyes[12:13 pm] qwert : so mitch would you not have opened a short onmpc[12:14 pm] qwert : okay thx[12:14 pm] qwert : be nice if FB closes in this 32 area[12:15 pm] qwert : cant wait mitch[12:15 pm] victor51 : IThat will be awesome and it will allow us tolook for other trades[12:21 pm] victor51 : Mike, isnt that it gives you clear entry or exitpoint without your thinking?[12:22 pm] victor51 : Hi eyes, How are you? Are you missingTrading Room?[12:29 pm] jsn13 : Ed, r u in any trade right now?[12:29 pm] Ed : no[12:31 pm] jsn13 : can we go over some charts?[12:32 pm] Ed : Mitch went over some already so will save foranother day this week[12:32 pm] jsn13 : ok sure....thanks....[12:32 pm] mikewd2 -: thanks Ed[12:34 pm] Ed : thanks to you all as well for recommending goingover charts, help with beginners and the old foggies also[12:34 pm] shark : :)[12:35 pm] jsn13 : we should thank u for spending the time andeffort to explain in concrete ways....kearn way more with thatapproach...[12:36 pm] Ed : great to hear, Im sure when I get out of line you allwill be 1st to let me know, maybe 2nd. Lisa is always 1st[12:36 pm] qwert : i noticed that about her Ed :)[12:37 pm] jsn13 : haha.....u r a great teacher...thanks...[12:38 pm] khall : Im out for the day - thanks Ed, Mitch and all ofyou fabulous traders. Ill see you next week.[12:38 pm] Ed : after 5 years joey finally puts pic up of his system[12:38 pm] Ed : c ya khall[12:38 pm] Ed : nejoy[12:38 pm] Ed : enjoy[12:38 pm] khall : :-) thx[12:38 pm] jsn13 : Ed, when is ur turn to show us ur system?[12:39 pm] lisas : yeah, I"m still here[12:39 pm] qwert : i was impressed[12:39 pm] lisas : Have fun khall[12:39 pm] Ed : mine is from the gut[12:39 pm] Ed : :)[12:40 pm] Ed : actually thats another great book, "trading from yourgut" by Curtis Faith[12:41 pm] qwert : excellent book agree 100%[12:41 pm] Ed : like a lightbulb went off[12:48 pm] Ed : lol[12:53 pm] victor51 : Ed, i had a good day in Sim. I increased thetrade size in am and it was good. Then i tried nickle and dime in theafternoon and gave it back little.16
  17. 17. [12:54 pm] Ed : after those first 90 minutes, have to be really selective, u can also reduce size later so ur keeping majority of profits [12:55 pm] Ed : nice going, just continue to focus on trading action of what you see and u will continue to do fine [12:56 pm] qwert : bye everybody great calls today cya all in the am [12:56 pm] Ed : c ya qwert [12:56 pm] sakii : Good Nite & Thanks [12:56 pm] Ed : c ya sakii [01:01 pm] akram : good nite all [01:02 pm] akram : Thanks [01:06 pm] victor51 : Thanks Ed. Only thing is pm trades are slower and very tempting to take trades but smaller losses accumulates fast [01:09 pm] victor51 : god night all [01:17 pm] garyb : Good night everyone!SWI (SWING): 2-7 days INT: Intermediate term position 8 days to several months. Open Price: price paid on openinglong position or price sold on short position. Bold notes on table above represent changes from previous day.Current positions are highlighted in yellow. Green colored lines are next probable positions to consider. Red, take actionor watch closely, no color usually were stocks just finished trading or are watching. Realize that opinions about stockideas can be changed at a moment’s notice during any trading day without any warning!IMPORTANT: The notes in this stock list is how I have been writing notes to myself about stocks for 17 years. They are generalguidelines as to how I am approaching a particular stock and conditions may change during the next trading day that ay cause achange in opinion before the next evening report is written.Remember not to get too heavy in one sector and gradually move in because it is unrealistic to think we get the exact bottom. We wantto gradually move into this sector and eventually build full size long positions in them that may be swing trades lasting for days orintermediate trades lasting weeks.If you spend too much money too quickly, you will run out of ammunition, then get emotionally stressed when stocks are going againstyou. If you get too leveraged you may be forced to sell at a loss because you are racking up losses at twice as fast if you are margined2 to 1and then miss the big move up we are looking for in oil and gas stocks.Advice: Don’t get leveraged in any one position long or short. Spread your money out between a variety of stocks and the higheramount of money you are working with, the smaller percentage of money you can afford to trade in one stock position. The mainreasons why people fail to make money in stocks consistently (according to Mitch King): 1. They are too emotional, controlled by greed and fear. 2. Not using a high probability technique to buy and sell (or no technique at all!) 3. Position size is too big in one stock relative to total account value (which is related to #1 above).Not patient or willing to spend enough time to learn a good trading technique. 4. Expectations are unrealistic to make large amounts of money in a short time period and at the same time violating #1, 2, 3 or 4 above.Thoughts: Best odds only, be decisive, aggressive, mentally flexible, stay in position size, don’t overtrade and wait a little longer to buyand wait a little longer to sell. You will find that will make you more money on your trades. Trade what you see, not what you hope for.Intermediate and swing trades are really important to have trailing stop losses set.Don’t trade unless the setup is there for you, then use the charts to tell you when the odds are heavily in your favor. Don’t forceanything to work for you, let the setups develop and then take advantage of that. Be patient. Stay in position sizes without letting anyintraday trade represent no more than 10-15% of your total account value. As you build your account, your position size percentageshould get smaller and smaller to lower your risk.Stop losses: Many people ask about stop losses on intraday trading and my response is that the stops should be wider because theyare stops “just in case” a disaster news event hits the stock. When you follow the technical indicators as I show you on the intradayscalping tutorials, rarely will a stop loss be hit. The indicators can be used with uncanny accuracy as a forecasting tool so don’t setyour stop losses on the intraday scalping too tight.Anyone setting tight stops while scalping will consistently lose money on scalping because stocks move around a lot even though theyfollow the technical indicators.Stop losses on swing and intermediate term trades can be sent anywhere from 5-7-10% and trailing stop losses are best.More thoughts: Keep steady, calm, decisive, aggressive. Have no fear and no greed. Keep looking at what to be doing next in a calmmanner. Don’t focus on the past or beat yourself up what you did or didn’t do or what you should have done. Just keep playing thenext shot, which in this business your next shot could be just sitting on the sideline.If you have been uncomfortable shorting stocks, which most people are, try to learn this technique, it will be a useful tool in the comingyears. 17
  18. 18. When several stocks from the same sector are listed, like from the housing industry or steel industry for example, don’t short all of themunless you are well diversified and it represents a small percentage of your total stock account (in that same account).Also note that we are in what Martin Pring, PhD explains in his book The All-Season Investor, the business cycles and which one isgood for various financial investments. He would describe that we are in Stage II of the business cycle which is positive for bonds andstocks but negative for commodities. Sometime in late 2011, we probably approach Stage 3 business cycle with rising inflation andinterest rates, which are usually bad for stocks and bonds.A couple of technical analysis books you should consider:Technical Analysis Explained, Martin Pring.Technical Analysis from A to Z, AchelisTechnical Analysis for the Financial Markets, John Murphy.Put the odds in your favor and have a great day!Mitch King and staffTradeStocksAmerica.com.Contents: online stock trading, trading strategies, stock picks, stock market education, stock market investing course, educational stocktrading videos, stock trading newsletter, stock market newsletter,Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest toits accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readersare urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports maychange without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stockscited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at thetime of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice.Disclaimer - Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as theopportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report,The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing toaccept the risks when investing or trading in any financial markets. Dont trade with money you cant afford to lose. This website isneither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profitsor losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarilyindicative of future results. 18