Everyday Stock Report Friday Morning, June 15, 2012


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Everyday Stock Report Friday Morning, June 15, 2012

  1. 1. Daily Stock Report Friday Morning, June 15, 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!Surprisingly, US stocks closed up today even before thisweekend’s vote in Greece for new leadership. The market was Summary Opiniononly treading water until a report came out that central bankers are If you also have created a lot of shorts, consider reducingpreparing for the risk of a Greek exit as a result of this weekend’s the shorts tomorrow on Friday because it is very likelyvote. This propped up the stock market and something to think stocks will sharply rebound on Monday if the vote isabout is to the possibility (or fairly high probability) that Greece against the Syriza party.votes to maintain the existing bailout agreement and not take onthe radical Syriza idea of returning to Greece’s original currency,the Drachma. Calendar (All Eastern times) Tuesday, 830am, Import-Export pricesNo matter what the outcome of this weekend’s vote, there still will Tuesday, 1000am, ISM Services, 53.0be substantial instability even within Greece. We also have the Wednesday, 7:00am, MBA Mortgage Index, 1.3%newer stress from France’s new leader, Hollande, who has Wednesday, 830am, Retail Sales, -0.2%deviated from Sarkozy’s close alignment with Germany’s leader Wednesday, 830am, PPI, -0.7%Merkel. Then of course, we have Spain and the next problem will Wednesday, 1000am, Business Inventories 0.2%be Italy. So there is a tremendous amount of moving parts that Wednesday, 1030am, Crude Oil Inventories, -0.111Meach have strong influences on stability. Thursday, 8:30am, Initial Claims, 375,000 Thursday, 830am, Continuing Unemployment Claims, 3.250KSince markets don’t like instability and uncertainty, they are Thursday, 830am, CPI (Consumer Price Index “Inflation”), -0.2%reacting to any news event even to the moment of release. Thursday, 830am, Current Account Balance, -130.9BConsidering the number of short positions the Daily Stock Report Friday, 830am Empire Manufacturing, 13.5has in place now, and if you also have created a lot of shorts, Friday, 900am, Net long term TIC Flows, 36.2Bconsider reducing the shorts tomorrow on Friday because it is very Friday, 915am, Industrial Production, 0.1%likely stocks will sharply rebound on Monday if the vote is against Friday, 915am, Capacity Utilization, 79.1%the Syriza party. I am not normally interested in politics except Friday, 955am, Michigan Sentiment, 77.0this current market conditions are controlled by politicians and Follow-up notes:policies.The Spanish government 10 year bond had highest yield in history today, closing at 6.92% yield.Previous report: The Spanish bond yields has come down just off its record high which means people are selling the actual bonds itself. The high yield is an inverserelationship with the actual purchase price of the bond and this is saying the higher the risk the higher yield becomes.The 10 year Greek bond yields peaked on March 2, 2012 with a yield of 37.1% as the fear climaxed whether or not Greece was going to get a bailout. On March 13th a bailoutwas given to Greece and the bond yields dropped to 19% and the bond holders doubled their investment in 11 days for taking the risk.The US 10 year bond yields are around 1.5%, which means the world interprets the US debt as very safe. If the US politicians cannot establish a budget by year end 2012,the world’s interpretation will change and the bond yields will spike. We have never defaulted on our debt but last July 2011 into August 8th was biggest drop since the 2008financial crash that threatened to be a default until a temporary budget was put in place. But that deadline is end of 2012.Watch Spain’s bond yield which is at its all-time high today even with the $125 billion bailout package. The next country to watch is Italy, which is expected to be anotherproblem to keep the markets unsettled. Italy’s 10 year bond yield peaked out at 7.26% in November, dropped back under 5% and now is making its way steadily up to over6% yesterday. Lesson: Keep watching the 10 year bond yields to gauge the worry factor of each country, including our own.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 1
  2. 2. 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. Scalp of the day from Trading Room: (all eastern times) WFM, gave a 4% move today on the long side. Many stocks gave good trades both long and short today as stocks oscillated between positive and negative. 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) CENX, Century Aluminum. Consider small long position. NBL, Noble Energy. Consider small long position. HLX, Helix Energy. Consider small long position. HUM, Humana. Starting to monitor HUM for potential long position. CTB, Cooper Tire & Rubber. Consider small short (hold time days). TARO, Taro Pharmaceutical. Consider small short. 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) SNI, Scripps Networks. Consider small long position $54-55 area. SHW, Sherwin Williams, consider small long below $125. COP, ConocoPhillips. Consider small long position.Focus Chart: (Worden Telechart 2007-Download FREE on home page ORLY, O’Reilly Auto Parts. Consider small long position.of www.TradeStocksAmerica.com.) BK, Bank of New York Mellon. Consider small long position RMD, Resmed Health. Consider small long position.SHFL, Shuffle Master is accelerating to the downside on this WAG, Walgreen. Consider small long position.short. We are looking for mid $12’s to cover; be flexible. ROST, Ross Stores. Consider small long position next 1-2 days.Friday Report: List of LONGS below, LONGS below have already RBS, Royal Bank of Scottland. Consider small short.moved. If long, consider selling next 1-2 days. COF, Capital One. Consider small short position.CCE, Coca Cola Enterprises. Consider small long position.CE, Celanese Chemicals. Consider small long position. FFIV F5 Networks. Consider small short position.RDC, Rowan Cos. Consider small long position. CNK, Cinemark. Consider small short position.SSO, Ultra S&P 500 long etf. Consider small long next 2-3 days. VAR, Varian Medical. Consider small short.DDM, Ultra Dow30 long etf. Consider small long next 2-3 days. LO, Lorillard Group, Consider small short.UWM, Ultra Russell 2000 etf. Consider small long next 2-3 days. SODA, SodaStream Intl. Consider small short position.UYG, Proshares Ultra Financials. Consider small long position. RHT, Redhat. Consider small short position. SFD, Smithfield Foods. Consider small short position.Friday Report: Previous List of Intermediate LONGS below havealready moved. If long, consider selling next 1-2 days.RGA, Reinsurance Group of America. Consider small long position.SIRO, Sirona Dental. Consider small long position. Aggressive Investors-Traders (Higher risk, higher reward)MTB, M&T Bank. Consider small long position. SHFL, Shuffle Master. Consider small short next 2-3 days.TWX, Time Warner. Consider small long position Don’t get leveraged on any of these aggressive ideas. Study Bullshorts in the WizardITUB, Bank Itau. Consider small long position. Training Course before attempting this high risk high reward strategy. It is best to letEGN, Energen Energy. Consider small long position. these peak in price and turn down before opening short.MNST, Monster Beverage. Consider long position.MKC, McCormick & Co. Consider small long position. 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 Downtrend still expected. 27.31HLF, Herbalife LONG-SWI Sold Wednesday at breakeven. 45.00 45.04MO, Altria LONG-INT Higher high on Monday. 31.82TLM,TLM Talisman LONG-SWI Sold Thursday for breakeven. 10.54 10.60LVS,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 Consider reducing short Friday. 20.53SFD, Smithfield SHORT-INT Trying to bottom now; consider reducing short. 19.40BWS, Brown Shoe SHORT-SWI Covered short Friday for breakeven. 11.54 11.50HGG, HH Gregg SHORT-SWI Downtrend Downtrend resuming. 10.30STLD, Steel Dynamic SHORT-INT Stopped Wednesday for 6% loss. 10.41 11.00VRSK, Verisk Analyt SHORT-INT Consider covering this Friday. 46.51WBC, Wabco Hldgs SHORT-INT More downside this week. 50.64SLF, Sunlife SHORT-SWI Consider reducing short Friday. 21.30AFL,AFL Aflac SHORT-SWI Consider Consider covering short Friday. 41.20PANL, Univ. Display SHORT-SWI Small short position; looking for $27 area. 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 Small short position. 20.70LVLT, Level 3 SHORT-SWI -4.1% Wednesday; more downside ahead. 21.55LOGI,LOGI Logitech SHORT-SWI Consider reducing short Friday. 10.32RDC, Rowan Cos. SHORT-SWI Small short position. Hold time 2-3 more days. 31.68RBC, Regal-Beloit SHORT-SWI Consider covering this Friday. 61.24 58.77LVS, Las Vegas Sand SHORT-SWI Consider reducing short Friday. 62.25AUXL, Auxilium SHORT-SWI Consider covering this Friday. 21.79CHMT, Chemtra SHORT-SWI Look for low $13’s. 14.82BVN, Compania De SHORT-SWI Consider reducing short Friday. 40.30VCI, Volassis SHORT-SWI Covered Thursday for 5.5% profit; cover Friday profit; Friday 20.58 19.25LO, Lorriland SHORT-SWI Consider covering this Friday. 123.76RRC,RRC Range Resourc SHORT-SWI profit; Covered Thursday for 4% profit; consider covering 57.33 55.10ADSK, Autodesk SHORT-SWI Covered Thursday for 5.1% profit; cover Friday 5.1 profit; Friday 33.18 31.55SHFL, Shuffle Mast AGGSHORT Looking Looking for low $12’s to cover 14.25CENX, Century Alum LONG- LONG-SWI Not a lot of profit potential; consider selling 7.09NBL,NBL, Nobile Energy LONG- LONG-SWI Small long position. 83.88HLX, Helix Energy LONG- LONG-SWI Small long position, $14.98 stop loss 15.77HUM, Human Health LONG- LONG-SWI Small long position. 78.81TARO, Taro Pharm SHORT- SHORT-SWI Small short position; should resume downtrend 37.35RYN, Rayonier SHORT- SHORT-SWI Consider reducing short Friday. 43.02 3
  4. 4. CNK, Cinemark SHORT- SHORT-SWI Downtrend continuing. 21.69FFIV, F5 Network SHORT- SHORT-SWI Small short position. 101.43VAR, Varian SHORT- SHORT-SWI Small short position. 59.53SODA, Sodastream SHORT- SHORT-SWI Small short position. 34.79RHT, Redhat SHORT- SHORT-SWI Consider reducing short Friday. 53.41Here 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 14, 2012 June 14, 2012TSA Moderator Chat TSA User Chat[06:18 am] Ed : good morning traders [06:20 am] aussie123 : Anyone have a GOOD website they use to[06:31 am] Ed : monitioring DPS for bottom to buy follow Europe ???[06:34 am] Mitch K: watching ROST for top to short [06:21 am] khall : good morning[06:34 am] Mitch K: watching DRI for short soon [06:22 am] joeytsa : http://uk.reuters.com/business/markets/europe[06:34 am] Mitch K: to buy [06:22 am] shark : CRM and Twitter have announced a global[06:34 am] Mitch K: watching QCOM for bottom strategic alliance[06:35 am] Mitch K: watching APOL for bottom to buy [06:22 am] joeytsa : see if thats what you are looking for aussie[06:35 am] Mitch K: watching COST for short [06:23 am] aussie123 : Thank you Joe[06:35 am] Mitch K: watching FIO for bottom to buy [06:23 am] shark : PIR -raises guidance for FY13, sees EPS of[06:35 am] Mitch K: watching EW for top to short $1.08-1.14 from prior guidance of $1.06-1.12 vs. $1.13[06:36 am] Mitch K: watching RCL for bottom to buy [06:23 am] joeytsa : its delayed, im sure there are other sites to find[06:36 am] Mitch K: watching JIVE for short soon on google[06:37 am] Mitch K: watchign QCOR for bounce [06:24 am] joeytsa : thx shark, KRO had a decent report[06:37 am] Mitch K: watching JAZZ for bottom [06:24 am] shark : :)[06:37 am] Mitch K: watching AVGO for bottom [06:25 am] aussie123 : That is what I have been encountering...a lot[06:37 am] Mitch K: watching YOKU for bottom to buy of delay.[06:37 am] Mitch K: watching AEM for bottom to buy [06:26 am] joeytsa : shouldnt really affect a scalp too much[06:38 am] Mitch K: watching BBBY for top to short [06:26 am] khall : shark, do you think the alliance will save CRM[06:38 am] Mitch K: watching APA for top to short from the "punchbowl of dealth"? ;-)[06:38 am] Mitch K: watching ATI for bottom to buy [06:26 am] joeytsa : if you are holding overnight, then it makes[06:39 am] Mitch K: watching ANSS for bottom sense to pay attention to whats going on around the world[06:39 am] Mitch K: watching HAR for bottom [06:26 am] khall : death I mean[06:39 am] Mitch K: watchign HDB for bottom to buy [06:26 am] eddy : hello all[06:39 am] Mitch K: watching DNDN for top to short, take time [06:27 am] parachute %: good morning[06:40 am] Mitch K: watching KFY for short soon [06:27 am] joeytsa : eye on NKE from yesterday[06:40 am] Mitch K: watching JIVE closer [06:28 am] eddy : IGY shares buy back up 6 %[06:40 am] Mitch K: watching CRR for top to short [06:28 am] eddy : IGT[06:40 am] Mitch K: watching ASML for bottom [06:29 am] scalpman : Hi Ed[06:41 am] Mitch K: watching PRGO for short soon [06:29 am] victor51 : good morning all[06:42 am] Mitch K: watching AOL for bottom [06:29 am] scalpman : GM Traders[06:42 am] Mitch K: watching YOKU closer [06:30 am] doji : UVXY[06:43 am] Mitch K: consider covering ROST around here 64.50 [06:31 am] shark : watching GOOG[06:43 am] Mitch K: be flexible [06:33 am] joeytsa : watching REGN, from yesterday also[06:43 am] Mitch K: looking for 49.80 area on DRI short to cover [06:34 am] mikewd2 -: DNDN[06:43 am] Mitch K: looking for 7.50 area on DNDN to cover; [06:34 am] joeytsa : eye on EWprobably a little lower [06:36 am] mikewd2 -: EW bounced off 85.00[06:44 am] Mitch K: monitoring Z [06:36 am] mikewd2 -: 95.00[06:44 am] Mitch K: watching ANSS closer [06:37 am] doji : EW Citigroup rises PT to 105[06:46 am] Mitch K: watching AOL closer [06:39 am] shark : IGT, nice eddy[06:46 am] Ed : Im reducing 3/4 long DPS, will stop last 1/4 [06:39 am] eddy : did u take it shark?breakeven no likey [06:39 am] shark : watching JASO[06:47 am] Mitch K: consider selling most of JAZZ long [06:39 am] mikewd2 -: OPEC oil ministers wanting to keep current[06:47 am] Mitch K: consider selling AEM long output levels 4
  5. 5. [06:47 am] Mitch K: looking to sell RCL soon [06:39 am] doji : Not good for oil prices[06:48 am] Mitch K: watching ANV for top to short; take time [06:40 am] doji : and oil stocks[06:48 am] Mitch K: NKE bouncing, more upside today [06:40 am] shark : watching, eddy[06:49 am] Mitch K: consider reducing or selling HAR [06:40 am] mikewd2 -: thought that was good, saudi wanted to[06:49 am] Ed : monitior SAPE for potential bottom to buy increasearound 9.97 and 10.01 [06:40 am] skydiver : watching CRM[06:49 am] Mitch K: watching QCOR for bottom to buy [06:40 am] doji : Watching HAR[06:50 am] Mitch K: consider shorting CLB [06:40 am] shark : keep us posted, sky - CRM ;)[06:50 am] Mitch K: CLB short soon [06:40 am] skydiver : :)[06:50 am] Ed : would like more selling vol also SAPE [06:42 am] joeytsa : tightent stop on NKE if short[06:50 am] Mitch K: HDB looks weak [06:42 am] skydiver : CRM looking like it hit bottom soon?[06:51 am] Mitch K: watching PANL for top of this bounce for [06:42 am] Ed : SINA partnering with MSFTshort; missed bottom [06:42 am] skydiver : thnx ED[06:52 am] Mitch K: consider selling JAZZ [06:42 am] shark : deal with Twitter & CRM[06:52 am] Mitch K: looking for under $18 on JIVE short; be [06:42 am] joeytsa : thx Edflexible [06:43 am] joeytsa : ES holding the 1307 area for now[06:53 am] Mitch K: watchign DRI for 2nd helpin gshort [06:43 am] mikewd2 -: stopped on HAR long[06:53 am] Mitch K: consider reducing ANSS [06:45 am] shark : long UVXY -stop at b/e[06:55 am] Mitch K: almost always gives same pattern [06:46 am] doji : AVGO[06:55 am] Mitch K: anytime you see RCL idea, look at CCL. [06:46 am] shark : moving stop to 18.83 - UVXYRoyal Carribean Cruise, Carnival Cruise Lines [06:46 am] doji : What is your entry price in UVXY today Sharky?[06:56 am] Mitch K: monitoring URI [06:46 am] shark : 19.00[06:56 am] Mitch K: monitoring SGEN [06:47 am] doji : Ok, I got it another piece at 18.57[06:57 am] Mitch K: watching APA to cover soon [06:47 am] doji : today[06:57 am] Ed : SPY new hod [06:47 am] shark : :O Wow! Nice[06:57 am] Mitch K: most stocks rebounding, the longs will [06:48 am] joeytsa : VRTX trying to hold $54outperform shorts at the moment [06:49 am] skydiver : out 1/2 CRM L[06:58 am] Mitch K: watching ATI for top to sell long [06:49 am] doji : EW consolidating around 95[06:58 am] Mitch K: consider reducing YOKU, expect pullback [06:49 am] shark : all out UVXYbefore higher high [06:49 am] joeytsa : NFLX weak so far[06:58 am] Mitch K: ANV turning over, late to short though, too [06:49 am] joeytsa : yeah doji, see which way it breakslate at this price [06:50 am] doji : Like ANV better at 30.40[06:59 am] Mitch K: low vol on ANSS ok for long, looking for just [06:50 am] joeytsa : AAP nice patternunder 63; be flexible [06:50 am] shark : die, NFLX, die[06:59 am] Mitch K: looking for 33.40 area on AVGO long [06:50 am] shark : almost $50[06:59 am] Mitch K: APA looks like 84 is holding, consider [06:50 am] joeytsa : thats your target sharkcovering short [06:51 am] shark : yeahhh! ;)[07:00 am] Mitch K: CRR too strong to short [06:51 am] shark : u get some CRM, sky?[07:00 am] Mitch K: HAR tends to have strong rebound, look for [06:51 am] skydiver : yes shark35.75 area, maybe higher [06:52 am] skydiver : :)[07:01 am] Mitch K: you guys decide on ANSS, taking off [06:52 am] shark : AWESOME!!!screen, need room [06:52 am] skydiver : all out of CRM L[07:01 am] Mitch K: QCOR acting like slow boast to CHina [06:52 am] doji : Added UVXY 17.65[07:01 am] Mitch K: monitoring CRUS spike [06:52 am] doji : Now full position[07:02 am] Mitch K: taking CRR chart off screen, need room [06:53 am] shark : :)[07:02 am] Mitch K: watchign CHSI for top to short soon [06:53 am] doji : EW[07:03 am] Mitch K: DRI 2nd helping short fairly soon [06:53 am] mikewd2 -: how about 18.65 doji[07:03 am] Mitch K: CRUS toppy, passing though, [06:53 am] joeytsa : FDO hod[07:03 am] Mitch K: slow boat left dock [06:54 am] mikewd2 -: VRTX bouncing but low vol[07:03 am] Mitch K: QCOR finally moving [06:54 am] joeytsa : CRM with issues at prev low right now..see if it[07:03 am] Mitch K: watching IGT for top to short, take time busts thru[07:04 am] Mitch K: still like CLB as short, little hot, thin float [06:54 am] doji : hahah, yes Mike[07:05 am] Mitch K: stocks that were running starting to fizzle [06:54 am] skydiver : L CRM 12.39out, i see tops forming [06:54 am] shark : watching Z for poss top[07:05 am] Mitch K: consider selling HAR [06:54 am] skydiver : 126.39 that is on CRM LK[07:06 am] Mitch K: as gumby [06:55 am] skydiver : cant type today :) L[07:06 am] Ed : but as always be flexible [06:55 am] joeytsa : hhaha, put the bottle down[07:06 am] Mitch K: your call on JIVE short, prob best to cover [06:55 am] skydiver : ha ha joeymost, leave 1/3rd open short o see if goes to 17.60 [06:55 am] doji : Still watching EW[07:06 am] Ed : looking for 42.78 on final piece long DPS [06:56 am] joeytsa : rigth Mitch, thanks[07:07 am] Mitch K: monitoring GRMN, expect slow bounce [06:56 am] doji : SPY hodlater [06:56 am] skydiver : out 3/4 CRM L moved stop up to be[07:07 am] Mitch K: monitoring NFLX, hasnt been a strong [06:57 am] joeytsa : nice push thru that prev lobouncer [06:57 am] doji : SPY pushing higher... any news?[07:07 am] Mitch K: consider selling JAZZ [06:58 am] mikewd2 -: CJES pushing towards $19, go baby go[07:07 am] Mitch K: consider selling most of ANSS [06:58 am] skydiver : JOY doing nicely 5
  6. 6. [07:08 am] Mitch K: watch DV for top to short [06:58 am] mikewd2 -: HLF moving up[07:08 am] Mitch K: consider short on top of APOL [06:59 am] doji : Any news moving the SPY?[07:08 am] Mitch K: consider selling APOL long soon [06:59 am] jsn13 : nice move up on EW...[07:08 am] Mitch K: not impressed with AOL bounce [07:00 am] joeytsa : not seeing anything doji[07:09 am] Mitch K: URI toppy [07:00 am] doji : Watching RCL for short[07:10 am] Mitch K: consider covering ANV short [07:00 am] mikewd2 -: go spy go[07:10 am] Mitch K: missed KORS bottom, watching for top to [07:01 am] skydiver : stopped out on last piece of CRM Lshort; take time [07:01 am] lisas : paddle faster QCOR[07:11 am] Mitch K: AVGO toppy, consider selling long [07:01 am] doji : Watchinn LEN for Short[07:11 am] Mitch K: monitor APA for 2nd helping short later [07:01 am] joeytsa : EW is rolling[07:12 am] Mitch K: 2nd helping DRI short starting, slower trade [07:02 am] skydiver : all out of JOY L[07:12 am] Mitch K: more upside on QCOR long [07:03 am] skydiver : KORS S 38.77[07:12 am] Mitch K: IGT turning over nicely for short [07:03 am] shark : UVXY -long 18.23[07:13 am] Mitch K: watch VRX for top to short, missed bottom [07:03 am] skydiver : couldnt fill KORS short -- no shorts[07:13 am] Mitch K: consider covering BJRI, not sure if posted [07:04 am] joeytsa : that was a nice little rallybut been watching [07:04 am] shark : JCP carries shorts, sky ;)[07:14 am] Mitch K: still watching PRGO [07:04 am] joeytsa : haha[07:14 am] Mitch K: as a gymnast [07:04 am] skydiver : thnx shark --[07:14 am] Mitch K: looking for under 14.50 to cover IGT short; [07:04 am] skydiver : :)be flexible [07:05 am] shark : all out UVXY - .04/cents[07:15 am] Mitch K: watching CTX for bottom, take time [07:06 am] shark : +.04/cents[07:15 am] Mitch K: IGT going to give good repeated trades [07:06 am] joeytsa : grab that side of fries now :)today; monitor all day, dedicated chart [07:06 am] shark : lol, yeah![07:15 am] Mitch K: when i say monitor, means not ready but [07:06 am] Ed : lolcould develop into an idea [07:07 am] joeytsa : :)[07:15 am] Mitch K: watching LNCR for top to short; take time [07:07 am] shark : sweet potato fries, joey ;)[07:16 am] Mitch K: gift IGT time to breakdown more [07:07 am] joeytsa : cheap stores are doing ok today[07:18 am] Mitch K: monitoring WPI [07:08 am] joeytsa : wonder if that an economic sign?[07:19 am] Mitch K: its difference between a sustainable chart [07:08 am] skydiver : IGT turned over?)slower) or a faster moving stock which is something i look for a [07:08 am] shark : you calling Tarjeee cheap?reversal [07:08 am] joeytsa : they are a nice cheap :)[07:19 am] Mitch K: lot of stocks moving up still, more steadily; [07:09 am] doji : EW moving higher since the breakout above 95looking for the fast movers up or down [07:09 am] skydiver : GLUU - take over chatter - low priced stock[07:22 am] Mitch K: watchign WPI closer [07:09 am] joeytsa : been nice doji[07:22 am] Mitch K: watchign WBMD [07:11 am] joeytsa : ES is suing 1315 as a support,1317 as res[07:22 am] Mitch K: try to be more patient now areas[07:23 am] Mitch K: ATI 2nd helping short [07:14 am] joeytsa : AMZN using $216 area as res, set alert for[07:23 am] Mitch K: looking for 38.70 area to cover KORS short break higher[07:24 am] Mitch K: monitoring CELG, very strong, looking for [07:15 am] joeytsa : EW might be getting tired, be carefullong on pullback [07:15 am] joeytsa : GS lower highs[07:24 am] Mitch K: ANV short over [07:15 am] joeytsa : ES testing 1315 support[07:25 am] Mitch K: VRSN also strong, monitoring, [07:16 am] go4it : IGT Target?[07:27 am] Mitch K: no i didnt post FDO; another brain fart [07:16 am] skydiver : covering IGT S[07:27 am] Mitch K: FDO turning over, hope i posted that [07:16 am] shark : nice sky[07:33 am] Ed : getting pullback in SPY [07:16 am] Ed : he mentioned 14.50 area go4it[07:36 am] Mitch K: the 2nd helping DRI short not working [07:17 am] go4it : thx Ed[07:39 am] Mitch K: VRSN toppy [07:17 am] skydiver : thnx Mitch on IGT[07:39 am] Mitch K: watching APA for 2nd helping, im waitnig to [07:17 am] skydiver : thnx shark :)see if new high though first [07:18 am] qwert : amzn back at 216[07:41 am] Mitch K: almost 10 mil vol so far [07:19 am] joeytsa : it keeps trying[07:41 am] Mitch K: DNDN good stock to buy on dips last two [07:19 am] joeytsa : makes sense Mitchdays [07:20 am] skydiver : good teaching Mitch - thnx[07:42 am] Mitch K: should get a tradable long bounce [07:20 am] joeytsa : qwert: AMZN still with issues there[07:42 am] Mitch K: watching CVLT drop more [07:21 am] qwert : watching mjn[07:42 am] Mitch K: looking for lower lows on IGT short [07:21 am] joeytsa : really looking for a positive push thru 216.20[07:53 am] Mitch K: IGT went under $14.50, should break down [07:21 am] qwert : same here joeymore [07:21 am] skydiver : ahh - my wife just brought me breakfast while[07:54 am] Ed : SPY trading at horiziontal resistance Im trading :)[07:55 am] Mitch K: QSFT [07:22 am] joeytsa : gotta soack up that wine somehow :)[07:58 am] Mitch K: VRSN breaking down [07:22 am] skydiver : :)[07:59 am] Mitch K: VRX also turning over [07:22 am] qwert : hahaha[08:08 am] Mitch K: the discount stores like FDO, Family Dollar, [07:23 am] joeytsa : got some cons going onand DLTR, DOllar Tree have been very bullish on daily charts, [07:23 am] garyb : Good morning team! Am I late for the party?as well as FDO 1 min chart today [07:23 am] joeytsa : nat gas # in about 5min, 30yr auction @ 10pst[08:16 am] Ed : SPY new hod [07:24 am] joeytsa : EW testing $99, push thru and maybe $100[08:25 am] Ed : SPY new hod draws it liek a magnet? 6
  7. 7. [08:28 am] Mitch K: how about IGT, you do ok on short? [07:26 am] doji : Back from a cal....did I miss something?[08:28 am] Mitch K: hope you guys made out on the QCOR long [07:26 am] doji : Garyyyyy!!11[08:40 am] Mitch K: APA turning over [07:26 am] joeytsa : Italys 3yr borrowing costs spiked to 5.3% at an[08:59 am] Ed : getting pullback in SPY auction on thursday[09:10 am] Mitch K: new low [07:26 am] garyb : dojjjjjiiiiiiii!!!!!!!![09:10 am] Mitch K: watching RLJ for bottom to buy [07:26 am] doji : Yes, missed the chance to catch UVXY at lower[09:10 am] Mitch K: RLJ prices...[09:11 am] Mitch K: just a moment, wait for bottom [07:27 am] garyb : I went to the dentist this morning...and was[09:12 am] Ed : 1min chart on left and 2min chart on right trading on my iphone! LOL Technology is great![09:19 am] Mitch K: CVLT giving good repeated trades [07:27 am] doji : I am keeping my full positiona and day trading also[09:22 am] Mitch K: not liking ehavior of RLJ [07:27 am] joeytsa : ES back into support[09:43 am] Mitch K: i would stay away from RLJ, [07:27 am] skydiver : too funny Mitch[09:43 am] Mitch K: CLB gave 2 shorts [07:28 am] mikewd2 -: nice moves both ways on SINA this morning[09:43 am] Mitch K: what you guys want to remember is all [07:28 am] doji : Ed. is SAPE still under you radar?those stocks we saw earlier and posted, now they matre 2 [07:28 am] joeytsa : crude touched $83, pulled back to 82.70 areahours later on shrots like WPI [07:29 am] Ed : no passing, slow drift unless vol picks up on selling[09:44 am] Mitch K: also HAR was good long trade [07:30 am] mikewd2 -: HLF pushing for hod[09:51 am] Ed : SPY approachn hod [07:30 am] joeytsa : UNG spike[10:18 am] Mitch K: watching DECK [07:30 am] mikewd2 -: nat gas inventores rise[11:11 am] Ed : SPY trading in a range [07:30 am] mikewd2 -: above expectation[11:24 am] Ed : getting selling in markets [07:31 am] joeytsa : but what does that mean for the economy[11:26 am] Mitch K: LOW OF DAY IN SP 500 so far though[11:54 am] Ed : more selling in SPY [07:31 am] mikewd2 -: not sure why nat gas jumped along with FST[12:06 pm] Ed : nice pop in SPY and ohter nat gas players[12:07 pm] Ed : G20 possible coordinated effort b4 weekend [07:31 am] mikewd2 -: maybe less than expectation????[12:08 pm] Mitch K: people are believing it, commodities, [07:32 am] joeytsa : no cluestocks, indexes all moving [07:32 am] shark : spike in UVXY [07:33 am] joeytsa : ES lost support [07:33 am] mikewd2 -: out UVXY 18.55 nice 35 cent profit [07:33 am] shark : yeah, Mike!!! [07:34 am] garyb : congrats Mike! [07:34 am] mikewd2 -: still in DRI short but not liking it [07:34 am] mikewd2 -: JOY hod [07:34 am] shark : put your stop at hod, Mike [07:34 am] shark : or just above [07:35 am] shark : got a triple test of hod, DRI [07:36 am] mikewd2 -: my stop just above hod [07:36 am] shark : ;) [07:36 am] doji : High inventories in oil and gas mean cheaper price at the pumps; [07:36 am] doji : howvere not good for oil and gas stocks [07:37 am] joeytsa : thanks doji [07:37 am] totora : clr looks toppy [07:37 am] mikewd2 -: so why did we get a jump in oil stocks [07:37 am] mikewd2 -: FST, CJES, WFT all hod [07:38 am] joeytsa : people are irrational? [07:38 am] Ed : i thought stocks were [07:38 am] joeytsa : BIDU testing $118 hod area [07:38 am] joeytsa : them too [07:38 am] shark : lol [07:39 am] joeytsa : thats why those stock overreaction are money [07:39 am] doji : Speculation Mike... just wait a couple of days.... [07:39 am] mikewd2 -: out DRI short, small lunch money profit [07:39 am] scalpman : Watching CVLT [07:40 am] doji : I agree with Joey... its markets perception which in exhuberance disconnects from reality [07:40 am] mikewd2 -: SLB back to 65.00 [07:40 am] skydiver : got a phone call and have to go -- see you all tomorrow morning - keep making the big $$$ :) [07:40 am] shark : Saudi Oil Minister saying there is a need to increase production. OPEC meeting today! [07:41 am] Ed : c ya sky [07:41 am] shark : bye sky!!! [07:41 am] joeytsa : have a good day sky [07:41 am] skydiver : :) [07:41 am] lisas : bye sky 7
  8. 8. [07:41 am] mikewd2 -: all the other ministers are against it shark[07:41 am] joeytsa : next week is german elections i think, G20 andfomc[07:42 am] shark : nice, joey, thx[07:42 am] mikewd2 -: WFT approaching 12.50 resistance, diedyesterday when it hit it[07:42 am] doji : Saudi wants to increase because they dont wantto close the wells; a well that is closed can get severly damaged.You dont want to damage a well that is producibg 30,000 barrels aday[07:43 am] joeytsa : union break..see you in a bit, make somemoney[07:43 am] doji : What happens when the market is flooded withsupply?[07:43 am] doji : obvious answer[07:43 am] joeytsa : prices do down[07:43 am] joeytsa : go[07:43 am] shark : ok joey[07:43 am] doji : in addition to the issues in EU which could slowthings down[07:44 am] joeytsa : lots of people worried about inflation, not muchtalk about deflationary cycle[07:45 am] doji : Ok, no more comments... well see in the nextweeks how things work. just wait until oil companies report Q2numbers[07:45 am] shark : :)[07:46 am] mikewd2 -: got out DRI short too soon[07:46 am] mikewd2 -: figures[07:48 am] shark : MIIIIIKEEEE!![07:48 am] doji : I see now, the market moved higher on Greeceelections...[07:49 am] mikewd2 -: JOY above 56[07:49 am] doji : Is the pro-EU party leading the lections in Greece?[07:51 am] garyb : Is there a way to shut the pop up window offwhen Mitch or Ed types a message?[07:51 am] doji : It would be great if the marlket play the samereversal game as yesterday....[07:52 am] garyb : probably will doji[07:53 am] mikewd2 -: taking profits on FST day trade, +0.16 - seeyou guys later.[07:53 am] shark : bye mike! :)[07:53 am] doji : The focus is whether anti-austerity party Syriza willgather enough support to form a government, potentially leading to afallout with the European Union over the countrys bailout terms.Polls are not allowed in Greece in the last two weeks leading up toan election, but "secret polls" reportedly point to a victory for pro-austerity party New Democracy[07:54 am] Ed : c ya mike[07:54 am] lisas : bye Mike[07:54 am] lisas : Thanks doji[07:55 am] doji : EW hitting VWAP[08:00 am] doji : See ya in 1 hour fellas...[08:01 am] doji : Gary... keep pushing UVXY higher...[08:01 am] shark : ok doji[08:05 am] victor51 : Mitch, thanks for EW. Made my day[08:09 am] shark : NOK -wow, sign of times[08:11 am] garyb : ok doji..I will push now! :)[08:13 am] shark : UNG spectacular day[08:15 am] cdougan : gmcr looking for a bounce[08:18 am] shark : SPY testing R1 -133.00 level -res.[08:26 am] gub : yoku - turning up.[08:28 am] lisas : Yes, QCOR my biggest winner[08:28 am] shark : awesome, lisas[08:29 am] lisas : holding a quarter at break even until end of day Ithink[08:29 am] Ed : way to go go go lis8
  9. 9. [08:29 am] Ed : lisa[08:29 am] lisas : :)[08:29 am] gub : made .30 on QCOR![08:30 am] joeytsa : LNKD hod[08:30 am] shark : FB too[08:31 am] joeytsa : ES testing 1320[08:33 am] gub : made .30 each way on short and then long.[08:33 am] lisas : good job gub![08:33 am] shark : awesome gub! ;)[08:33 am] Ed : nice going gub[08:33 am] gub : on ANV[08:33 am] joeytsa : nice gub[08:33 am] gub : TY[08:34 am] gub : I just been breaking even or losing little every daythough.[08:35 am] gub : I think I have to sell quicker and take profits.[08:36 am] Ed : actually thats not a bad thing gub if ur having smallloss and breaking even mostly, some minor adjustment when get uacross the line. Many traders starting out lose big and cant get closeto breakeven[08:37 am] shark : good point, Ed[08:37 am] gub : But when I look at some of the charts at day end Isee that if I would of held on I would make more - so I been workingon staying in the position longer.[08:37 am] shark : me too, gub[08:37 am] cdougan : me too[08:37 am] lisas : Great that you are looking at charts, best way tolearn[08:37 am] shark : from my analysis, investors win cause they letthere winners run, and cut their losers quickly[08:37 am] gub : But today I could have made $ but I figured to stayin longer and ride it.[08:37 am] gub : TY - Ed.[08:38 am] gub : Got stopped out then[08:38 am] qwert : gub do you scale out of positions[08:38 am] Ed : one thing u could do, is take say 75% of trade offwhere u do now, and let 25% ride placing stop at breakevn andgradually trail[08:39 am] shark : I agree with qwert, Ed[08:39 am] gub : TY Ed for thst I will try it![08:39 am] joeytsa : gub: if you get stopped out but the trade is stillin play, re-enter[08:39 am] cdougan : VELT lower priced[08:39 am] gub : I havent yet scaled out of positions quert[08:40 am] gub : qwert[08:40 am] qwert : you should try that it will help[08:40 am] gub : TY joey - I will try.[08:41 am] joeytsa : only if the original entry reason is still valid...[08:41 am] joeytsa : happened to me today on EW[08:41 am] gub : Thanks for all these great ideas.[08:41 am] gub : Guys[08:42 am] joeytsa : scaling out is great also..one day i will try that :)[08:42 am] shark : whaatt ????[08:44 am] joeytsa : :)[08:45 am] scalpman : Watch GME[08:45 am] gub : .04 on IGT short Mitch.[08:46 am] gub : Could of done better but was letting things ridetoday.[08:46 am] doji : Back to the room felllas[08:46 am] gub : could of taken 90.00 but then het my stop.[08:46 am] gub : $90.00[08:47 am] scalpman : EArly entry...tight stop...[08:47 am] gub : scalpman?[08:47 am] scalpman : GME[08:47 am] gub : this is what you do scalp?[08:48 am] Ed : nice looking chart for short GMC rather GMCR9
  10. 10. [08:48 am] scalpman : On this one, gub.[08:48 am] gub : oh.[08:54 am] scalpman : GME double bottom...or lower highs...itsfight![08:56 am] Ed : still looks pretty weak, nice short breakn below18.19 would not much edge here[08:59 am] doji : LNKD pullback[08:59 am] scalpman : GME holding slight bounce[09:01 am] scalpman : reducing GME...[09:01 am] doji : GME look nasrt on the daily... hitting 52-week lowat 17.65[09:01 am] doji : nasty[09:01 am] scalpman : All out small profit...[09:02 am] scalpman : Yeah..I wasing hoping for a little bounce toscalp...probably not the best choice...[09:02 am] scalpman : and of course...now it moves![09:02 am] doji : shhhhhhhh[09:03 am] scalpman : it still looks down...ah vindicated[09:03 am] Ed : no biggie though scalp, as a trader u want to playhigh probability trades, they help with % of success and give betterr/r[09:05 am] Ed : also, every signal does not make for high probabilitytrade, this is hardest part for many traders, controlling the emotions.At times best trade is sitting on hands[09:05 am] doji : Hey Ed, Ill send you a message by FB today....[09:05 am] scalpman : Good points....Ed...thatnks[09:05 am] gub : TY for great advice Ed - its really been helpingnow that Im understanding what you mean.[09:06 am] Ed : cool, "my man" i said that in my Denzel Washingtonvoice[09:06 am] joeytsa : haha[09:06 am] doji : hahahaah[09:06 am] garyb : :)[09:06 am] gub : LOL![09:06 am] cdougan : ha[09:06 am] doji : Dont tell Lisas please[09:06 am] Ed : my lips are sealed[09:06 am] lisas : shhhh I wont say a word![09:06 am] doji : I got our trip plan to Rio ready![09:07 am] doji : ouchhh Lisas is here[09:07 am] joeytsa : haha[09:07 am] shark : lol[09:07 am] lisas : Professional lurker;)[09:07 am] gub : I been using the 2 - 3 minute charts last 3 daysand its been giving me better confirmations with better decisions.[09:07 am] scalpman : GME may be good tomorrow...I will watch[09:07 am] doji : Sorry Ed, couldnt find the Blond bombshell youasked for but I hava a backup plan...[09:07 am] Ed : lol[09:08 am] joeytsa : doji will wear a blonde wig??[09:08 am] lisas : pictures![09:08 am] gub : with 1 minute charts I was jumping the gun.[09:08 am] qwert : hahaha[09:08 am] doji : I mean, for the nurse who will take care of you afteryour plastic cirgury[09:08 am] joeytsa : the 1min will do that at times gub[09:08 am] lisas : I do that sometimes also gub, I have both up onplatform[09:10 am] Ed : those are the forces one fights in tryn to take stockon left long, what u would like to see would be acceleration of sellingvol to give that edge for potential bottom to buy and bouce[09:12 am] doji : Around 3% drop so far in RLJ[09:13 am] gub : TY all guys.[09:13 am] gub : Great tips.[09:14 am] gub : up .25 on GMCR with my stop set in place[09:14 am] gub : just stoped out made .1910
  11. 11. [09:15 am] doji : short?[09:16 am] gub : long GMCR[09:16 am] gub : 20.38 buy and 20.57 filled.[09:17 am] doji : I thought RLJ[09:17 am] gub : lunchtime[09:18 am] doji : Volume drying up in RLJ[09:19 am] doji : staying aside of RLJ[09:20 am] garyb : Not taking RLJ doji?[09:21 am] garyb : Yeh looks like ti still wants to go lower[09:22 am] garyb : No power ion RLJ..no volume[09:26 am] garyb : going for lunch....slow time now[09:26 am] Ed : so scalp, what u can look to do when u look at dailyof stock like GME and it downtrend, and on time frame u trade uwant to keep with trend if slow drift, so u can short the highs to playthe edge. Advance trading techinque, u draw ur trendlines and it willdepict the highs for u[09:31 am] cdougan : Thats all for me. Have a great day everyone.Thanks for the great calls.[09:34 am] Ed : c ya cdougan[09:34 am] lisas : bye cdoug[09:38 am] Ed : so Obama to speak on economy again at 1:45 est.[09:42 am] Ed : hmm, all quiet on the front[09:42 am] doji : Oh that is why market is moving... last time it didthe same[09:44 am] chinhngo : biib all day hod can i short or buy put?[09:46 am] Ed : too strong chinhngo[09:47 am] Ed : its trading at all time high aslo[09:47 am] Ed : also[09:48 am] Ed : if u must short it, I would wait for reversal on daily b4considering short intraday[09:48 am] doji : Oil moving up[09:49 am] khall : OPEC keeping quotas the same[09:49 am] mikewd2 -: that was good to hear[09:50 am] Ed : how long was the meeting doji?[09:51 am] doji : What meeting?[09:51 am] Ed : u were in the OPEC meeting[09:51 am] doji : hahahaha[09:51 am] doji : yes, serving coffe[09:52 am] Ed : yea right, I know u like to keep it modest[09:52 am] doji : Tip must be very good[09:52 am] khall : NKE a slow ride down today[09:53 am] jsn13 : Ed, is there a morning star buy signal on BIIB?looks like it has already put in bottom....with the vol and spy...[09:54 am] Ed : which timefremae[09:54 am] jsn13 : thinking of taking it long at at higher low on1min....[09:54 am] Ed : to much risk here, would wait on pullback[09:55 am] jsn13 : as in thinking of getting it at the pull back...on ahigher low...[09:56 am] Ed : speaking on market structure great[09:57 am] Ed : would see how pullback into area of consolidaiton, ifwe get it[09:57 am] jsn13 : ok thanks....[09:58 am] Ed : so far it has been riding that 20ma and 50ma on1min[09:59 am] jsn13 : looks like downtrend still holds...[09:59 am] Ed : u mean the uptend[09:59 am] Ed : uptrend[10:00 am] jsn13 : would u take it long if higher low formed?[10:01 am] Ed : hey chinhngo u get my comment on BIIB[10:02 am] gub : was there a hammer that just occureed on NKEand what does this mean?[10:03 am] Ed : which time frame gub u speakn?[10:03 am] qwert : gub thats not a hammer[10:07 am] gub : 13.03 est[10:07 am] gub : NKE11
  12. 12. [10:07 am] doji : The SPY has been slowly drifting higher today[10:08 am] mikewd2 -: Allen Stanford sentenced to 110 years[10:08 am] mikewd2 -: finally some justice[10:12 am] Ed : agree with qwert gub[10:12 am] gub : TY[10:13 am] gub : qcom[10:14 am] doji : NKE approcahing 100[10:14 am] doji : hitting 200DMA[10:15 am] victor51 : QCOM dropping fast. Any news?[10:16 am] gub : yea victor I just made .30 on QCOM drop.[10:17 am] doji : Short/Long Gub?[10:17 am] gub : short[10:17 am] doji : What time and what price you got it?[10:19 am] gub : 56.57 1:11 to buy to cover at 1:14 at 56.27.[10:19 am] doji : so what triggered your short?[10:21 am] doji : The only thing that could have triggered a short forme was that trendline support.[10:21 am] doji : broken by a candle at 13:13PM[10:21 am] gub : was up on screen and seen candles with vol[10:22 am] gub : set tight stop and kept dropping[10:22 am] jsn13 : and broke lod....weak compared to SPY....[10:22 am] doji : I dont see volume increase at 1:11[10:22 am] mikewd2 -: GMCR sick[10:24 am] doji : Sorry Gub but that is only me... I just need to havean edge to trade.[10:25 am] gub : Im still learning and maybe just lucky today.[10:26 am] jsn13 : Ed, did u trade QCOM? how do u handle it if so?[10:27 am] Ed : did not trade it, wanted more selling down to 55.8isharea[10:27 am] jsn13 : ok thanks....[10:28 am] victor51 : QCOM Long at 56.20[10:31 am] gub : vic - how many shares?[10:32 am] victor51 : 200[10:32 am] gub : way to go![10:32 am] gub : I got it long now.[10:33 am] victor51 : Switched from 1 to 2 min. chart for qcom.better reading[10:36 am] doji : QCOM here at trendline resistance[10:36 am] gub : what does this mean stock will do doji?[10:37 am] gub : vic tour killing QCOM[10:37 am] gub : still riding it vic?[10:38 am] gub : going up as fast at it went down - qcom[10:42 am] victor51 : out 1/2[10:48 am] Ed : nice trade victor[10:49 am] gub : you the man vic![10:50 am] victor51 : Ed Thanks. I am still doing morning trades inSim. and take live trades after 9:00 am pst[10:50 am] Ed : cool[10:52 am] gub : same here vic - Im swithcing back and forth too.[10:53 am] victor51 : Doji, is 10:47 good dogi signal or ave. signalfor QCOM?[10:54 am] doji : Sorry Victor, I had to leave[10:54 am] victor51 : bye Doji. I will be off tomorrow[10:57 am] victor51 : Ed, looks like 10:47 dogi signal is working finefor QCOM. Can you expand on it please?[10:58 am] Ed : at :46 time[10:59 am] victor51 : yes[11:00 am] Ed : doji just signifies that bull/bears are equal neitherone has upper hand at that time[11:01 am] qwert : NKE trying to hold 200sma daily[11:02 am] Ed : how is it useful, if ur long a stock and u see it inuptend, just a heads up that stock could be running out of steam,same holds true for downtrend,[11:03 am] gub : TY Ed for the tip on doji.[11:03 am] Ed : it could also be resting for resumption, so trader hasto interpret other factors like, vol, indicators,etc12
  13. 13. [11:04 am] victor51 : ED, makes lot of sense. Thanks[11:04 am] lisas : What I got from reading Nisson on candles is thatmany are meaningful or not depending on context, it after a trend, ata predictive level of S or R.[11:05 am] gub : TY lisas[11:05 am] qwert : same here lisa[11:06 am] Ed : exactly trader has to interpret other factors[11:06 am] eddy : victor which sim u r using?[11:06 am] gub : the other factors is what fools me the most rightnow.[11:07 am] gub : sometimes dont considr them[11:08 am] gub : by being here I get reminded of them of which Ithnx all here who help me and others.[11:08 am] victor51 : Yes Lisa, I agree and helps on R and S[11:08 am] qwert : NKE weak against spy[11:09 am] doji : NKE could brake below 100 today[11:11 am] mikewd2 -: deck breaking down[11:12 am] murano : BCR[11:13 am] lisas : thanks murano[11:14 am] mikewd2 -: NKE nearing 100[11:14 am] mikewd2 -: broke 100[11:14 am] doji : NKE[11:19 am] gub : TY doji on NKE.[11:20 am] joeytsa : HUN quick spike[11:21 am] doji : Watching QCOM[11:25 am] doji : Go UVXY[11:25 am] garyb : Yes![11:26 am] joeytsa : AMZN testing lod, prev low close[11:27 am] doji : I have 1314 as lod for SPC Mitch[11:27 am] joeytsa : i dont have lod on s&p yet?[11:27 am] joeytsa : i have 1307 on the ES, its at 1317 right now[11:28 am] Ed : matbe he meant broke low of trading range :)[11:28 am] Ed : good anwser, good answer[11:28 am] Ed : survey says[11:29 am] joeytsa : one too many Tsingtao :)[11:29 am] doji : He must be taking a nap[11:29 am] Ed : lol[11:30 am] doji : go UVXY go[11:31 am] garyb : yes![11:32 am] shark : YESSS!![11:32 am] qwert : Ed have you traded HUN[11:32 am] doji : ?[11:33 am] shark : UVXY long, go![11:33 am] Ed : no just watching[11:34 am] qwert : i jumped in n out made 4.00 :)[11:34 am] Ed : cool, green is good[11:34 am] joeytsa : $4 total??[11:35 am] qwert : yeah my best trade of the day joey :)[11:35 am] joeytsa : haha[11:35 am] qwert : haha[11:35 am] joeytsa : better than a $4 loss i guess[11:35 am] qwert : yep[11:35 am] joeytsa : i think wmt starts at $7 :)[11:36 am] joeytsa : plus you get a fancy nametag[11:36 am] Ed : had a price set 12.96 and 13.10 never got chance tomove it down or put prices in announcement[11:36 am] qwert : its acting like a legit rumor yeah?[11:36 am] Ed : it is[11:37 am] joeytsa : did anyone see the story?[11:37 am] joeytsa : boa shops HUN to pe firms[11:37 am] victor51 : qwert, geat job. its on HUN?[11:37 am] Ed : i heard it sounded like charlie brown talking, lunchmade me slooooooow[11:38 am] joeytsa : haha[11:38 am] qwert : hahaha wahwahwah[11:38 am] joeytsa : just like my wife13
  14. 14. [11:38 am] Ed : yea lol[11:41 am] Ed : u get the long joey[11:41 am] joeytsa : in HUN, no..left it along[11:41 am] joeytsa : aone[11:41 am] joeytsa : alone[11:41 am] lisas : lol[11:41 am] Ed : we will start having AA meetings on friday[11:41 am] joeytsa : its holding this 12.50 area though[11:41 am] joeytsa : ill bring the sambuca[11:42 am] Ed : lol[11:42 am] qwert : ill bring the mojitos[11:42 am] Ed : too funny[11:42 am] joeytsa : been a long time since i had a drink[11:42 am] lisas : sim trading is so much more fun, I"m long BCR,NKE, QLD FDO, short HUN and gold, lol[11:42 am] shark : doji?[11:43 am] joeytsa : and you dont lose real money[11:43 am] Ed : and ur up 5 million for the day[11:43 am] lisas : exactly[11:43 am] qwert : you and pandozi[11:43 am] joeytsa : by the way: happy Flag Day to everyone[11:43 am] shark : YEAHHH!!! Thx, joey[11:44 am] qwert : you too joey[11:44 am] mikewd2 -: joey: u hear from IIan today?[11:44 am] joeytsa : yeah[11:45 am] Ed : cool[11:45 am] joeytsa : app already sent[11:45 am] doji : QCON nice double bottom rebound in V patter[11:45 am] doji : QCOM[11:45 am] shark : DOJIIII??[11:45 am] doji : Hey Joey[11:45 am] mikewd2 -: great[11:45 am] doji : Did you watch CNN yesterday?[11:45 am] shark : sent you an email, doji[11:46 am] doji : Ok[11:46 am] shark : involves lots of $$$$$[11:46 am] shark : time sensitive[11:46 am] lisas : nke still has fleas[11:46 am] doji : Gib, that is an edge to go long in QCOM[11:46 am] doji : Gub[11:46 am] gub : yes[11:46 am] doji : Joel, Did you watch CNN yesterday?[11:47 am] doji : all out QCOM[11:47 am] doji : JOEEEEEEEELLLLLLLLLL[11:47 am] joeytsa : what was on CNN[11:47 am] joeytsa : besides erin burnett :)[11:48 am] mikewd2 -: yeah[11:48 am] doji : MExical cartel involved in Horse racing in Tulsa,OK[11:48 am] mikewd2 -: yeah i saw that doji[11:48 am] joeytsa : saw that earlier in the week..shark sent me alink, but the horseracing forum I am on had it quicker[11:49 am] doji : Goioooooolll[11:49 am] joeytsa : SODA selling off[11:49 am] doji : Spainnnn[11:49 am] joeytsa : im watching it doji[11:50 am] shark : :)[11:50 am] doji : hahah[11:50 am] joeytsa : spain only playing with 7 guys...they cant afforda full team :)[11:50 am] doji : wowo SODA[11:51 am] garyb : lol Joey![11:51 am] mikewd2 -: see if FST will give me another gooddaytrade L 7.09[11:51 am] doji : SODA holding 20DMA[11:52 am] mikewd2 -: gary you still have UVXY?14
  15. 15. [11:53 am] doji : FST within it 30min OR Mike[11:53 am] mikewd2 -: ?[11:54 am] doji : 30min Open Range[11:54 am] shark : PCLN broke thru 10,21,100day[11:54 am] mikewd2 -: bottom of the opening range, yes[11:54 am] jsn13 : Anyone take soda long?[11:54 am] doji : 7.03 to 7.10 Mike[11:54 am] lisas : virtually long[11:55 am] joeytsa : mike: app approved already[11:55 am] doji : hahahaha nice Lisas[11:55 am] mikewd2 -: your right doii[11:55 am] joeytsa : you reading 50 shades also lisa haha[11:55 am] lisas : actually, real money to be made here, but hittarget for day[11:55 am] lisas : so play money time[11:56 am] lisas : good practice on these fast drops[11:56 am] doji : Mkie, using the 30min OR in HAL, SLB and WFThas helped me a lot...[11:56 am] mikewd2 -: nice liss[11:56 am] Ed : thx Sir Doji for SODA[11:56 am] lisas : yeah doji![11:56 am] jsn13 : Where did u enter soda long, Ed?[11:56 am] doji : Joey put in here, I just mentioned the S/R levels[11:57 am] Ed : 2:52 @ 33.37[11:58 am] jsn13 : 2.50 and 2.51 bar as signals? rejection plus peakvolume?[11:58 am] doji : Nice, afeter it didnt make lower lows[11:58 am] shark : nice Ed[11:58 am] joeytsa : Egan Jones cuts France to BBB-[11:58 am] jsn13 : Nice doji another good observation...[11:58 am] Ed : no i just use 2:51 as signal[11:59 am] jsn13 : what signal is thta?[11:59 am] doji : The spinning candle?[11:59 am] Ed : SPain is down to CCC by fitch, they should havenew one for FFF-[11:59 am] Ed : yes[11:59 am] shark : agreed, Ed![11:59 am] joeytsa : yeah Ed[11:59 am] doji : Spain is up 1 to 0 versus Ireland Ed![11:59 am] jsn13 : spinning candle means? indecision?[11:59 am] doji : hahaha[11:59 am] joeytsa : it will get there[12:00 pm] shark : yes jsn[12:00 pm] Ed : just comes from chart study on that one jason, Ihave seen it on more than 1000s of charts[12:00 pm] doji : France downgraded to BBB[12:00 pm] jsn13 : me to....juz that not sure how to utilize it....[12:01 pm] doji : long dropp red candle + increase volume + spiningcandle[12:01 pm] Ed : back test it and start to trade it when u see[12:01 pm] doji : and 5% drop from 34.4... all signals were there[12:01 pm] mikewd2 -: nice vol spike on DECK[12:02 pm] jsn13 : sure...im wondering like does the 2.50 and 2.51candles combined look like bullish harami....but i like the peak volthough...=[12:02 pm] Ed : if u have seen it 1000s of times in chart and itbottoms, trust ur gut, set stop enter and see where it takes ya[12:02 pm] doji : 34.9 sorry[12:02 pm] shark : jsn- candles are less reliable on 1min[12:03 pm] Ed : ur reading too much into it jsn[12:03 pm] shark : much less[12:03 pm] shark : work better on daily and weekly charts[12:03 pm] shark : agreed, Ed![12:03 pm] doji : Price Action is the "key"[12:03 pm] jsn13 : ok i see....cos i see something that im familiarwith but candles did not give me signal...decied not to take it...15
  16. 16. [12:03 pm] shark : and volume secondary[12:04 pm] jsn13 : ok got it guys....thanks....[12:04 pm] shark : ;)[12:04 pm] joeytsa : jsn: eventually you will get to the point whereyou see everything at once[12:05 pm] mikewd2 -: jason, you didnt go long on soda?[12:05 pm] eddy : how can i learn price action?[12:05 pm] joeytsa : like Ed said: look at 1000s of charts[12:05 pm] jsn13 : like i said, saw everything but the candles did notgive me signal....so did not take it....[12:05 pm] Ed : when u study the charts over and over, u will beginto see lot of similarities, then make sure it meets parameters, sellingoff with high vol, etc, then enter with stop and manage it. Once uhave done all study later u can get in to the nuts and bolts of whatmakes it do what do[12:06 pm] doji : wow SPY[12:06 pm] joeytsa : exactly Ed..worded perfectly[12:06 pm] garyb : Blasting![12:06 pm] mikewd2 -: the long exhaustive candle wasnt clera? withvolume?[12:06 pm] garyb : not good for our UVXY! lol[12:06 pm] lisas : wow, wish I was trading live[12:06 pm] doji : News?[12:06 pm] garyb : Did a certain team win??[12:06 pm] doji : Any news?[12:06 pm] jsn13 : thanks guys for the advices...[12:06 pm] joeytsa : jsn: also, sometimes not everything lines up[12:07 pm] joeytsa : maybe only 4 of 5 factors signal[12:07 pm] jsn13 : got it joey....thanks for the reminder...[12:08 pm] mikewd2 -: UVXY dieing[12:08 pm] lisas : figured it had to be some significant news[12:08 pm] joeytsa : jsn: i ended up not taking SODA...[12:08 pm] joeytsa : but in our talking, you tell me where i wouldhave taken it?[12:08 pm] doji : Watching fro shorts...[12:09 pm] mikewd2 -: out DECK plus $1[12:09 pm] jsn13 : joey, the higher low at 12pm pst...[12:09 pm] joeytsa : nice mike[12:09 pm] joeytsa : bingo..when it re-tested that pivot s/r area[12:09 pm] jsn13 : congrats mike....[12:09 pm] mikewd2 -: out FST L, nice 1.5%[12:10 pm] joeytsa : esp if i had missed the bottom[12:10 pm] mikewd2 -: ill take it[12:10 pm] jsn13 : yup joey...the S2...[12:10 pm] lisas : Hope the live traders did well, my sim platform isgoing crazy hitting all my targets, lol[12:10 pm] joeytsa : its one of my favorite patterns[12:10 pm] Ed : lisas is up 10million now[12:11 pm] doji : Mine too... all my alarms just triggered at the sametime[12:11 pm] lisas : ooh, I wish[12:11 pm] lisas : might be some shorts coming up I guess[12:11 pm] jsn13 : joey, most of the bounces move higher from the1st higher low....[12:12 pm] joeytsa : not sure if most do, but its not a bad place toenter if you miss the first move[12:12 pm] jsn13 : hun[12:13 pm] mikewd2 -: DECK S 47.12[12:13 pm] joeytsa : you mean 48.12?[12:14 pm] mikewd2 -: yes sorry[12:14 pm] mikewd2 -: 47.12 was previous long - haha[12:14 pm] joeytsa : good trading[12:15 pm] victor51 : Ed, 2:51 candle had delta of .80. + capiluationfor a day? what do you call that candle[12:17 pm] doji : UVXY long 17.13[12:17 pm] doji : held 17 very well16
  17. 17. [12:18 pm] garyb : yes doji I agree[12:19 pm] mikewd2 -: nice doji[12:20 pm] doji : Sweeeeeeettttttttt[12:20 pm] doji : out 1/2 UVXY[12:20 pm] garyb : Its like being on a rollar coaster today! We justdont know when we go up or down![12:20 pm] shark : lol[12:20 pm] garyb : good one doji! Send me a beer buddy![12:21 pm] doji : The SPY needs to breakdwon here to add onUVXY[12:21 pm] garyb : Brazilian beer![12:21 pm] doji : with or without companion Gary?[12:22 pm] garyb : lol[12:22 pm] doji : KORS[12:22 pm] garyb : ok with Companion...but my wife may give me apatta de koolo!![12:23 pm] doji : KORS 36.9 support[12:23 pm] mikewd2 -: missed my entry price on KORS by 2 cents[12:24 pm] jsn13 : doji, for ur UVXY, where did u enter?[12:24 pm] jsn13 : I mean which bar....saw ur price...[12:25 pm] doji : 3:16PM Jason when it made higher lows...[12:25 pm] jsn13 : thw bar after doji?[12:26 pm] jsn13 : the higher high?[12:26 pm] doji : Just saw the price action and the support at 17Jason...[12:26 pm] Ed : hey victor, u get chance would go to youtube andplace steve nison candlestick and it wiill give some great educationalinfo[12:26 pm] doji : that was all[12:27 pm] doji : Jason, tradin is not like math... there are severalexceptions that you have to take from time to time[12:27 pm] doji : one of them is "guts"[12:27 pm] jsn13 : ok thanks doji....juz wanna check ur time with mytime on ninja....my 3.16 is the green bar after doji....how bout u?[12:28 pm] victor51 : Ed, i have watched few but will spend moretime. Thanks[12:28 pm] doji : Mine is the second red candle... kind of ahhmer[12:28 pm] doji : green[12:28 pm] doji : third green candle[12:29 pm] jsn13 : doji, i juz wanna have the materials clear....wheni pull out my guts....i often go in too early....[12:29 pm] jsn13 : im always too agressive....and ed would tell me ihave no signals yet....[12:29 pm] doji : You will get there Jason, you are a smart kid[12:29 pm] jsn13 : so i rather wait and make some analysis....willspeed up later on....[12:30 pm] jsn13 : so now i will ask all sorts of questions....i wannamake sure i learn trading well....made too many mistkaes in thepast....[12:31 pm] Ed : question for newbies, how much time have u spendeach night studying charts? or how much time?[12:31 pm] jsn13 : at least 2hrs per day....[12:32 pm] jsn13 : plus normal trading time....[12:32 pm] eddy : i work on this 12 hrs a day including trading time[12:32 pm] eddy : 10 to 12 to beexact[12:32 pm] mikewd2 -: your ready jason, just got to pull the triggerand start making some trades[12:32 pm] Ed : speakn of only dedicated time to study[12:32 pm] eddy : at least 3 to 4 hrs a day[12:33 pm] mikewd2 -: vol spike on GMCR[12:33 pm] eddy : nd im nt there[12:33 pm] mikewd2 -: nearing 20.00[12:33 pm] jsn13 : mike i have 14 trades today....[12:33 pm] mikewd2 -: nice jason, didnt realize - great[12:34 pm] jsn13 : had 8 yesterday....on avg 10 trades per day....[12:34 pm] doji : Still riding SODA... nice17
  18. 18. [12:34 pm] Ed : just curious[12:34 pm] mikewd2 -: wow, maybe too many then.[12:34 pm] mikewd2 -: haha[12:34 pm] jsn13 : haha....mostly losers... :-([12:34 pm] doji : and waht is your % of winners vs. loosers[12:35 pm] jsn13 : like 20% winners....[12:35 pm] mikewd2 -: not good[12:35 pm] jsn13 : maybe i jump on the losers....its very bad....[12:35 pm] joeytsa : 20% winners means you need 5:1 to breakeven[12:35 pm] jsn13 : haha....but im experimneting with very smallpositions....[12:35 pm] joeytsa : money being equal that is[12:36 pm] doji : Didnt realiz the SPY is almost 1% up today[12:36 pm] jsn13 : that is why i asked alot of questions...had probsin selection...[12:37 pm] jsn13 : dojie, how do u exit SODA?[12:37 pm] jsn13 : *doji[12:37 pm] doji : Havent yet Jason[12:38 pm] jsn13 : still have full position? very nice...[12:38 pm] mikewd2 -: i havent exited mine either Jason[12:39 pm] doji : Market is betting on the central banks action....[12:39 pm] mikewd2 -: almost did when the 50ma was breached[12:39 pm] mikewd2 -: my target on soda was 34.97[12:39 pm] mikewd2 -: currently[12:39 pm] jsn13 : how do u guys judge when to exit? stop at breakeven now or u guys trail it up?[12:40 pm] joeytsa : keep trailing[12:40 pm] mikewd2 -: when it broke the 20 and then the 50, i keptmoving my stops up[12:41 pm] mikewd2 -: my stop right now is 34.41[12:41 pm] mikewd2 -: which is up $1 currently[12:41 pm] qwert : jsn i sell 1/2 to 3/4 at first area of resistance andthen just bump stop below each area of support as it moves up[12:41 pm] mikewd2 -: im out now 34.85[12:41 pm] jsn13 : very nice mike....congrats...[12:42 pm] mikewd2 -: best one of today for me[12:42 pm] qwert : nice trade mike[12:42 pm] jsn13 : qwert, where is ur 1st area of resistance?[12:42 pm] mikewd2 -: FST keeps giving these nice 1.5% gains,[12:42 pm] doji : Long UVXY again at 17.04[12:43 pm] qwert : i didnt trade soda jsn but would depend on wherei opened the position[12:43 pm] jsn13 : ok thanks qwert....[12:44 pm] mikewd2 -: vix down 7.75% today[12:46 pm] mikewd2 -: sure would like to see WFT stay over 12.50for close[12:46 pm] eddy : doji still in uvxy?[12:46 pm] Ed : take a look at charts KORS on left and SODA onright, see any similarities in bottom forming[12:47 pm] mikewd2 -: doji, did you dump soda?[12:47 pm] jsn13 : the peak volume....[12:47 pm] qwert : yep[12:47 pm] lisas : shark, you still here?[12:47 pm] jsn13 : then indecision after the peak volume bar withlower volume...[12:47 pm] qwert : big candles, big volume[12:48 pm] jsn13 : thanks ed....very direct comparison....[12:48 pm] Ed : this is what I did, I kept studying 1000s of chartslitterally and I would tunr them upside down, and gues what showsgreat short pattern[12:48 pm] Ed : aapl on right[12:49 pm] jsn13 : how did u trade DPS ed in the am?[12:49 pm] eddy : ok Ed if u go back to KORS[12:50 pm] jsn13 : this one was tricky i guess...[12:50 pm] Ed : those bars too much risk to trade unless u got the18
  19. 19. bottom[12:50 pm] Ed : so ok to pass[12:50 pm] jsn13 : thats y i avoided it....[12:50 pm] eddy : I Wud have taken the trade but most certainlygone out on the third nnd fourth red bars#[12:50 pm] jsn13 : i passed...[12:50 pm] eddy : how wud we know that it wud continue climbing#[12:51 pm] Ed : lets look at larger timeframe[12:51 pm] eddy : u got my question?[12:51 pm] Ed : 5min to the right[12:52 pm] Ed : no sell signall yet on 5min[12:52 pm] Ed : u see that eddy[12:52 pm] eddy : but wat wud be a sell signal?[12:53 pm] eddy : a red bar?[12:53 pm] Ed : that or watch ur stochastics[12:53 pm] eddy : on the 5mns?[12:53 pm] jsn13 : i think a sell signal is forming....haveing prob with38 resistance....[12:54 pm] Ed : what u do is u trade on ur 1,2,3 min, then glance at5min to help u stay in trade longer[12:54 pm] qwert : bye everybody cya in the am thx for the greatcalls[12:54 pm] Ed : see on 1min we got sell signal, still forming on 5[12:54 pm] Ed : cya qwert[12:55 pm] khall : bye qwert[12:55 pm] joeytsa : bye qwert[12:55 pm] eddy : ya got thaat[12:55 pm] eddy : how do u identifyt the bottom?[12:55 pm] jsn13 : see ya qwert...[12:55 pm] eddy : u need 3 consecutive green bars to confirm?[12:56 pm] mikewd2 -: cu guys tomrw.[12:56 pm] eddy : bye mike[12:56 pm] Ed : depends on what time frame ur using, but what uwould like to see is sellerrs disipate and buyers come[12:56 pm] joeytsa : bye mike[12:56 pm] eddy : i know wat my problem is[12:57 pm] eddy : it is managing the trade[12:57 pm] eddy : anyway[12:57 pm] lisas : bye everyone, have a great night[12:57 pm] eddy : will work on this[12:57 pm] eddy : bye lisa[12:57 pm] Ed : u like getting out early so to speak[12:57 pm] joeytsa : bye lisa[12:57 pm] khall : bye guys - thanks for the great day ...[12:57 pm] eddy : yes[12:57 pm] doji : Bye guys[12:57 pm] garyb : Bye Katrina![12:57 pm] eddy : nd the reason is that i concentrate on nt losiing[12:57 pm] Ed : maybe work on tryn to break ur trade up or scale outas they say[12:57 pm] garyb : See you dojjjiiii[12:58 pm] joeytsa : bye katrina[12:58 pm] eddy : cos im way in the red nw[12:58 pm] doji : Tomorrow I;ll cnnected only 1 hour, next weekk I;llbe travelling[12:58 pm] eddy : so im losing objectivity[12:58 pm] Ed : got it[12:58 pm] eddy : anyway[12:58 pm] eddy : it better improve soon[12:58 pm] eddy : take care all[12:58 pm] eddy : see ya tom[12:59 pm] joeytsa : Thanks Mitch, Ed, everyone...see you in themorning[12:59 pm] Ed : remind me 2morrow we will talk about it[12:59 pm] Ed : eddy[12:59 pm] Ed : c ya joey19
  20. 20. [12:59 pm] eddy : sure wud luv some advice [12:59 pm] jsn13 : bye joey [12:59 pm] Ed : remind me when it is slow 2morrow [12:59 pm] eddy : ok sure [12:59 pm] Ed : like 3:30est [12:59 pm] eddy : ok [01:00 pm] Ed : have a great night traders [01:01 pm] jsn13 : U too ed... [01:01 pm] victor51 : Good night all and i will see you on Monday. Travelling tomorrowSWI (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.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 and 20
  21. 21. stocks 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. 21