Ken-ST Moderator: all in recent action

Ken-ST Moderator: gm Jeff

jeff: yo

Ken-ST Moderator: gm bbhead, Gary

Gary: gm all

bbhead: gm all

JR: Cale, forgot to tell you yesterday that Cyber direct vs Streetsmart Pro lets you trade E Minis

guru: gm everyone

jg: good morning everyone...lasts have a good one!!!

Cale: Really?

jrs: GM all

Cale: gm jg and Guru

JR: Yep

Amlo: Good Morning everyone.

guru: gm Cale

doc: gm

Ken-ST Moderator: [b]Good Morning[/b] [b]jg, guru, jrs, Amlo, doc[/b]

julie: Ken what do think about ISRG @89.01?

Ken-ST Moderator: I would not play the first break

Ken-ST Moderator: wait for the break, a rally/retest of the 5 ema on 5 min

JP: QGEN?

Ken-ST Moderator: then play the break at a new lod

Ken-ST Moderator: or wait for consolidation near the breakdown levels

Ken-ST Moderator: Also if you are going to set a breakout price

julie: yes of course

Ken-ST Moderator: dont do it just above the whole number

fammari: GM all

julie: OIIM

Ken-ST Moderator: if at 89.01, may as well set at 88.99

Ken-ST Moderator: [b]Good Morning[/b] [b]FAMM[/b]

Ken-ST Moderator: ty for that julie

Ken-ST Moderator: added

jg: hi cale....gm to you!!

Ken-ST Moderator: [b]Good Morning[/b] [b]goldy[/b]

goldy: gm ken,all

Ken-ST Moderator: [b]Good Morning[/b] [b]jose[/b]

JP: palm?  Possibly a type A that may get some play off the RIMM news?

jose: gm Ken, James, everyone happy friday!

Ken-ST Moderator: Will keep eye on it JP

ash: gm all

Cale: Good Morning Jose

Ken-ST Moderator: [b]Good Morning[/b] [b]kami, ash, gd[/b]

gd: gm all

kami: gm all

julie: hi jose

jy: gm

Cale: hi GD

Cale: gm JY

Ken-ST Moderator: [b]Good Morning[/b] [b]jy[/b]

Ken-ST Moderator: Ok gang lets do a market assessment:

Cale: James going to be here today?

Ken-ST Moderator: Daily chart:  above the 5 day EMA, stoch up

Ken-ST Moderator: Hourly Chart:  uptrend

Ken-ST Moderator: 5 min:  downtrend

Ken-ST Moderator: Overall there is still an uptrending bias to the market

Ken-ST Moderator: Futures are up about 1 points

Ken-ST Moderator: Gang, market is still in a trading range ono daily

Ken-ST Moderator: please be very conservative with your trading

Ken-ST Moderator: not much selections today

Ken-ST Moderator: many

Ken-ST Moderator: [b]Good Morning[/b] [b]Dan[/b]

Dan: gm

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISGR 88.94[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISGR 88.94[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISGR 88.94[/b]

jg: what

Cale: ?????

Ken-ST Moderator: JUST ADDED THAT

Cale: right

Sean: hmm

goldy: isrg you mean

fammari: you mean ISRG?

Cale: lol

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISRG 88.94[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ISRG 88.94[/b]

Ken-ST Moderator: TY

Ken-ST Moderator: SORRY

Cale: Ken is using hes new fingers to type again

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTES 85.94[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTES 85.94[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTES 85.94[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]NTES 85.94[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]NTES 85.94[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]NTES 85.94[/b]

Cale: ouch, next

jeff: damn

sam: stop on NTES?

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]NTES  [/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]NTES  [/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]NTES  [/b]

gd: 85.04

fammari: painfull

jeff: wtf??

jg: ouch...

Cale: did RTRSY bust up?

guru: MRGE moving lower

Sean: yeah after moving up 5 percent lol

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MRGE 17.79[/b]

Cale: Ken should have RTRSY on the list?

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MRGE 17.79[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MRGE 17.79[/b]

Ken-ST Moderator: not a good trading stock

Cale: ah

WCBLBBALL: should have hrb on the list short

Cale: ya I through that one out also WC, Ken doesnt really like Listed stocks

Ken-ST Moderator: still in range as well

Ken-ST Moderator: If you wanted a looser stop on NTES, you may also look to the 5 ema on 1 min, then the 1 ema on 5 min

Cale: t

Ken-ST Moderator: but we stuck to the lod

Ken-ST Moderator: it was 1%

Ken-ST Moderator: gang its a $80 stock but it seems some of you may have put more into it because its an expensive stock

Ken-ST Moderator: hope not....1% is 1%

Ken-ST Moderator: still sucks

Ken-ST Moderator: but shouldnt any more than another 1% stop

Cale: it looks like NTES whats to head up still

JR: who held onto it?

jrs: I still have it

Cale: do you still have it JR?

Sean: I didnt even get in it, I'm not supposed to trade stocks above $70

JR: yep, you?

JP: Why not Sean?

jeff: wish I hadnt, wiped out my whole week and more in 30 sec

Cale: I am with Sean, really dont play stocks over $75ish

Sean: just my dads rules

Cale: there ya go JR

Sean: I cant do A trades either

Cale: oooommmmmm

jy: ntes - pos

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WPPGY 57.64[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WPPGY 57.64[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WPPGY 57.64[/b]

jeff: ive never seen anything like it - except for GOOG

Cale: lol, JP take your profits

Cale: wow look at it run!!!

JP: I didn't play NTES today.

Ken-ST Moderator: Note how it held the 5 ema on 1 min

Sean: Jeff, how'd it wipe out your whole weeks profits?

Cale: oh I thought you said you were in

Cale: JRS is still in

jrs: I was in, took my profits and got out of it

jeff: I hit 1000 shares like a dumbass

Sean: ahh

Ken-ST Moderator: Sorry to hear that Jeff

jeff: oh well

julie: Ken SLXP may fit now

Ken-ST Moderator: Overall uptrend on the market gang

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]WPPGY 57.64[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]WPPGY 57.64[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]WPPGY 57.64[/b]

jg: 57.42 stop???

Cale: No James today Ken?

Ken-ST Moderator: Havnet heard

Cale: not too much volume in WPPGY, does that make any realy difference?

Ken-ST Moderator: not sure

guru: MRGE at new HOD

Ken-ST Moderator: Stillunder the 5 ema

Cale: Looks like RIMM had a good day in court

Ken-ST Moderator: har

Sean: wish gravity would kick in on mrge..

julie: bye jose.........................

Sean: lol julie

Sean: guess its not a happy friday for him

julie: notice he only says ty when he's ahead

Sean: yeah

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]QGEN 14.59[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]QGEN 14.59[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]QGEN 14.59[/b]

Sean: anyone long on MRGE?

JP: I was Sean, but I'm out now.

Ken-ST Moderator: GM SAL

Sean: what was your entry and exit?

salozar: gm, sorry I'm late

JP: 18.10 to 19.27

Sean: nice man

Cale: dang Salozar, how can you miss all this?

BRUNO3: GM

Ken-ST Moderator: GM BRUNO

Ken-ST Moderator: hi shawnt

JP: Thanks, I'd like to see it roll over so we could go short.

Sean: same here

Ken-ST Moderator: MRGE testing the 5 ema area now

Ken-ST Moderator: waiting for consolidation/pullback

alex: morning all

Sean: i gotta run guys, see you after turn time

Ken-ST Moderator: gm alex

Ken-ST Moderator: ok sean

Ken-ST Moderator: take care

Cale: see Sean

Cale: Ken my 5 ema is showing  MRGE is above it

Cale: the e is for  Exponential right?

Ken-ST Moderator: but cant just jump in because its above it

Ken-ST Moderator: yes exponential

Ken-ST Moderator: its that area that its testing

Ken-ST Moderator: you want it to consolidate or back off from that area

Ken-ST Moderator: form a small base

Cale: okay I understand just wanted to make sure I had it set up right

Ken-ST Moderator: and then you play the cotinued breakout

JP: Ken, can you take a look at BMRN?

Ken-ST Moderator: NTES testing its 5 ema now too

Cale: long MRGE @ 19.58

Ken-ST Moderator: very nice JP

Ken-ST Moderator: not a bad setup a a new hod

JP: Looks like I sold MRGE too early

Ken-ST Moderator: the stop would be the low of the pullback

Ken-ST Moderator: I  would like to see market in its favor though

Ken-ST Moderator: or nicely uptrending too

JP: Thanks Ken

Ken-ST Moderator: market in range right now

jg: come on wittle piggy.....

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTES 83.74[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTES 83.74[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTES 83.74[/b]

JR: is there RIMM news out, it's going crazy

julie: Ken tell us about LYG

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]WPPGY[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]WPPGY[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop to entry[/b] [b]WPPGY[/b]

Ken-ST Moderator: SMALL RANGE SO FAR ON THAT JULIE

Ken-ST Moderator: IT HAS A SETUP AT A NEW HOD

Ken-ST Moderator: BUT REALLY

Ken-ST Moderator: NOT MUCH RANGE AT ALL

julie: so i c

Ken-ST Moderator: NTES IS CLOSE

jy: MRGE - close to 20X daily volume so far 7.7M shares traded vs. 410K daily avaerage

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]MRGE 20.76[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]MRGE 20.76[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]MRGE 20.76[/b]

Ken-ST Moderator: stop if triggered will be low of pullback

Ken-ST Moderator: tight

Ken-ST Moderator: RISK nothing on WPPGY gang

Ken-ST Moderator: also NTESis close

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BMRN 12.95[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BMRN 12.95[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BMRN 12.95[/b]

Cale: just added?

Ken-ST Moderator: YES

Ken-ST Moderator: CANCEL LYG WATCH

Cale: dont have to yell Ken

Cale: just asked :(

Ken-ST Moderator: LOL

WCBLBBALL: so ken...still trying to grasp here.  so you don't care anything about the dollar we lost not getting into mrge just waiting for it to hit high of day which is the technical breakout point?

Ken-ST Moderator: Nope wc

Ken-ST Moderator: that involves a totally different strategy

Ken-ST Moderator: ill share some ideas during lunch on how to play

JR: MSTR is coming up

Ken-ST Moderator: ty jr

Ken-ST Moderator: [b]Watching for Type A Buy on[/b] [b]MSTR 95.01[/b]

Ken-ST Moderator: [b]Watching for Type A Buy on[/b] [b]MSTR 95.01[/b]

Ken-ST Moderator: [b]Watching for Type A Buy on[/b] [b]MSTR 95.01[/b]

JR: volume is pathetic

WCBLBBALL: nope you don't care about the dollar or nope waiting for the high of the day is the technical breakout point?  we'll discuss at lunch

JR: picked up as I said that!

Cale: Which one JR?

JR: MSTR

julie: Did BRMN gap?

julie: BMRN

Ken-ST Moderator: no more of a Type A, but well keep it in the B section

JP: No.  Just hitting new highs

gd: celg - does this set-up for a swing trade?

julie: I'm not big on housekeeping Ken.  put it anywhere you wish..

Ken-ST Moderator: possibly  gd

Ken-ST Moderator: We need to keep off of Type A

Ken-ST Moderator: Ill explain a little later

jy: MRGE backing down

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]WPPGY 57.89[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]WPPGY 57.89[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]WPPGY 57.89[/b]

jg: I like stops in the money!!!

Ken-ST Moderator: Yeah baby

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]HOLX 49.19[/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]WPPGY for PROFIT[/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]WPPGY for PROFIT[/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]WPPGY for PROFIT[/b]

fammari: HOLX triggerd?

julie: yes

jg: I've got my stop at 49.94 in holx...is that the spot???

Ken-ST Moderator: 49.93

jg: THX

WCBLBBALL: hrb staring to break down

Ken-ST Moderator: wb chin

julie: HRB was an excellent setup

Cale: yes BUT its Listed

julie: active enough to get good fills

Ken-ST Moderator: hi buddy

Cale: would you short HRB at 23.05ish?

buddy: hi ken what is a good trade

Ken-ST Moderator: no

Cale: lol

Ken-ST Moderator: Looking back to october area there is support

steveg: Did H & R block really screw up their own taxes?

Cale: CNBC is going to report in a few

Cale: too funny if they did

steveg: short short short

Cale: lol

julie: I think it was a good rtade

JR: isn't that hilarious!?!?  Unbelievable timing and the worst PR you could get

Ken-ST Moderator: lol

steveg: whats the symblo for h&R?

Cale: remember, there is never bad PR

Cale: only no PR is bad PR

julie: who played CONR lod here?

julie: lol.........the silence of the lambs

Cale: .

Cale: The Jefferies Pre-Market Report: S&P futures +0.2 vs fair value. 10-year note flat at 4.55%. Apr WTI $61.67, +$1.13. Trading higher: NTES +6.00 (earnings, 2 upgrades), MRVL +2.80 (earnings), CHK +1.40 (earnings), BRCM +0.70 (MRVL sympathy), SNY +0.45 (earnings), RMBS +0.45 (Samsung must provide documents to RMBS). Trading lower: MRGE -6.50 (guidance), SLXP -1.58 (earnings), JWN -1.51 (earnings), WYNN -1.29 (earnings), GPS -1.20 (earnings), STXS -0.44 (earnings), DCN -0.30 (WSJ reports DCN working w/restructuring advisor), INTC -0.11 (FBR downgrade).

Cale: .

salozar: anyone looking at CKFR at lod, nice gap fill below...

steveg: ahhh hrb

JR: anyone playing MRVL LOD?

Cale: LOL I played that yesterday

steveg: too funny hrb

Cale: ya thats too funny

Cale: I am suprised that their stock is not dropping like a rock

steveg: its a gap short at LOD?

Cale: I would but am not going to today, am already up huge

salozar: ckfr did it

Cale: okay boys and girls, off to the Gym, see you on the lunch turn

Ken-ST Moderator: ok Cale have a good one

steveg: hrb has support on daily chart very close

WCBLBBALL: HRB IS TOAST!!! CAPS FOR EMPHASIS ONLY.  NOT YELLING

Ken-ST Moderator: If you look back however to even past 2005, there is a flat resistance area all around this general price

julie: Imo, the play was earlier in the day

julie: or aftermarket yesterday

julie: the juice is gone I think

jy: HRG ??

jy: Did you play ?

WCBLBBALL: you are probably right but it's exciting when it's crashing, you have to admit that a tax preparation company that screwed up their own taxes is going to be viewed as a laughing stock and their business should not be too good in the future with a negative opinion going into tax season

Ken-ST Moderator: hehe

julie: poetic justice

WCBLBBALL: i did buy it yesterday

julie: bought or sold?

Ken-ST Moderator: ?

Dusty: Ken, WPPGY short at LOD?

jy: Julie, do you play after- amrket and pre-market ?

julie: yes

jy: how have you been doing ? i think you mentioned few days ago. you had a good win.

julie: fair. Its a bit nerveracking

jy: I guess so. Did you play NTES last night ?

julie: no

julie: just HRB

jy: guess you did well on HRB ?

julie: depends on your point of view

julie: I made .50

jy: profit ?

jy: that's good - profit is profit that's more thna 2%.

julie: true...........but look at it now

Ken-ST Moderator: valid Dusty, but we are near to the turn

jy: julie, you never know. it could go the other way.

julie: true.

julie: it was a bit wierd.  the mkt was a bit slow to react to the bad news

Ken-ST Moderator: [b]Cancel all Type B alerts until 1:00 pm est[/b]

Ken-ST Moderator: 11:00 turn time

julie: hence the opportunity

Ken-ST Moderator: geez is anything moving out there?

Ken-ST Moderator: ok any questions?

Hunter: : could you explain why to stay away from type A's, please ?

Ken-ST Moderator: ?

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]HOLX[/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]HOLX[/b]

Ken-ST Moderator: [b]STOPPED Consider exit in[/b] [b]HOLX[/b]

WCBLBBALL: ken do you want to answer any of my questions from above

Hunter: : I thought you said earlier the need to stay away from A's, and would explain later

Ken-ST Moderator: Please post again WC

Hunter: : at 10:16

julie: Is James ok?

Ken-ST Moderator: ah ok Hunter

Ken-ST Moderator: got you

Ken-ST Moderator: I didnt want to classify it as a Type A

Ken-ST Moderator: the Type A is set at the beginning of the day

Ken-ST Moderator: the trade plan is set

Ken-ST Moderator: we have a service called day trading limited that delivers these plays before the day

Ken-ST Moderator: starts

jg: ken did you specifically meAN ONLY BRCM?

WCBLBBALL: i was asking when the stock that was down $5 was moving up and had to gain another 1.39 or so to get to the high of the day before you would consider entering whether you didn't care about that dollar plus or whether you

Ken-ST Moderator: thats the only reason

WCBLBBALL: only cared about the technical entry point

jg: I MEAN ONLY BMRN?

Ken-ST Moderator: Yes, early in the morning, I only care about that technical point

Hunter: : ah ok, thx

Ken-ST Moderator: Yeah that is the one that was kept off the Type A

Ken-ST Moderator: I could just create another Type D or something

Ken-ST Moderator: to throw those momentum stocks in....but ah, Ill just put them in the B

WCBLBBALL: ok...just trying to learn.  not seeing the charts it's kind of hard to picture. what about affx long that you e-mailed the weekly pick on

Ken-ST Moderator: that is a Swing Trade

Ken-ST Moderator: but all of our swing trades may be played like a TYpe A

WCBLBBALL: 3 or 4 day hold by definition

Ken-ST Moderator: we allow up to 2 weeks

Ken-ST Moderator: but it may hit in 1 day

WCBLBBALL: ok

Ken-ST Moderator: Ok lets take a look at this mornings stop on NTES

Ken-ST Moderator: We had stop set at the lod

Ken-ST Moderator: which ended up to be too tight

Ken-ST Moderator: but considering the type of market it was appropriate

Ken-ST Moderator: you may opt for looser stops by the following:

Ken-ST Moderator: close below the 5 ema on 1 min

Ken-ST Moderator: or 5 ema on 5 min

Ken-ST Moderator: The 5 min 5 ema was too far away

Ken-ST Moderator: the next tightest stop was the 5 ema on 1 mi

Ken-ST Moderator: which ended up ideal

Ken-ST Moderator: so if you do not like our stops you may opt for those other two

Ken-ST Moderator: Now lets look at MRGE

Ken-ST Moderator: and the reason why we stay away from fading a gap until it hits its 5 ema on 5 min

Ken-ST Moderator: You may play breakouts from the 5 ema on 1 min, but the move after that may see initial resistance at the 5 ema on 5 min

Ken-ST Moderator: so the results is you may have to scalp the trade

Ken-ST Moderator: Using the 5 ema on 1 min, you would have had an entry at 18.76

Ken-ST Moderator: at 9:40 am

Ken-ST Moderator: wb Amlo

Ken-ST Moderator: I had an interesting meeting with a forex trader last night

Ken-ST Moderator: anyone here trades forex?

jeff: nope

Ken-ST Moderator: This guy developed a very interesting, and profitable way to trade the forex

jeff: whats the deal?

Amlo: I do

Amlo: Can we find out

Ken-ST Moderator: the thing is, he is making a little money off of the trading

Ken-ST Moderator: but that is not what its all about

Ken-ST Moderator: its making money on the interest

Amlo: Intresting

Ken-ST Moderator: pun intended?

Ken-ST Moderator: lol

Ken-ST Moderator: yes it is quite interesting

Ken-ST Moderator: I am still skeptical at the entire Forex setup

Ken-ST Moderator: Unregulated industry

Amlo: Ken, since we are in the subject of forex. Do you know of any good alert service ?

Ken-ST Moderator: The thing about this guys system, there is no picking a direction of currency

Ken-ST Moderator: No Amlo

Ken-ST Moderator: We do the research, you reap the benefits

Ken-ST Moderator: That is why I met that guy last night

Ken-ST Moderator: I am looking out for our traders

Ken-ST Moderator: and will research and test it

Ken-ST Moderator: Its not a trading strategy per say

steveg: thx for the instruction ken-really appreciate it

Ken-ST Moderator: but a way to make money from the forex

Ken-ST Moderator: Did anyone know that you can make interest off of holding your Forex lots?

Amlo: I did

jeff: how much?

Ken-ST Moderator: did you appreciate the interest, or did you look at it as miniscule and a bother

jeff: interest we talking?

Ken-ST Moderator: This is the part I am really skeptical on

Ken-ST Moderator: As you all know you can leverage heavily with foex

Ken-ST Moderator: forex

Ken-ST Moderator: 400:1 at some places

Ken-ST Moderator: ie: own $1000 of USD for just $2.50 for instance

Amlo: 400:1 is very tempting if you are on the right side can play out to be huge

Ken-ST Moderator: but the kicker is, you can earn interest on that $1000

jeff: didnt know that

Amlo: very high risk

Ken-ST Moderator: yeah isnt that ridiculous

salozar: how do you forgo the exposure to the currency pair then, if only in the trade for the interest?

Ken-ST Moderator: how crazy is that

Ken-ST Moderator: good question sal

Ken-ST Moderator: USD/CHF

julie: caveat emptor

Ken-ST Moderator: EUR/USD

Ken-ST Moderator: you need a hedge

salozar: a small assumption that the hedge is highly correlated then.....

julie: and it cost $ to hedgealso

Ken-ST Moderator: take a look at those two currency pairs

jy: MRGE - over 13 M shres traed so far. Average daily is 420K.32X daily volume - day traders at work. lol

Ken-ST Moderator: Taking out the constant, the USD, the only thing you have left is the EUR vs. CHF

julie: Ken this sounds like a trade for the LTCM guys

salozar: lol, julie

Ken-ST Moderator: those two markets are highly correleated

salozar: highly, but not 100%, and if only in the trade for the interest, the slightest variation could wipe out the interest gain

Ken-ST Moderator: being that they are opposite sides fo the equation, they present a inverse relationship

salozar: it is intersting though, I never cared about the interest

Ken-ST Moderator: right sal, its not a risk free concept

Ken-ST Moderator: but they are using leverage to capitalize on interest and a natural hedge to mitigate their risk

salozar: I'm not a forex expert, but if you received interst on the USD/CHF pair, wouldn't you have to pay it on the EUR/USD pair, or vice versa?

Ken-ST Moderator: yes

Ken-ST Moderator: sal

Ken-ST Moderator: that is awesome

salozar: no I get it

salozar: now

Ken-ST Moderator: you are on it

salozar: interest variation

salozar: or delta between the two pairs

Amlo: Me too I never cared about the intrest

Amlo: very intresting

Ken-ST Moderator: right but its not a 1:1 hedge on contract size

Ken-ST Moderator: it varies depending on volatlity and interest

Ken-ST Moderator: that is the technical part

Ken-ST Moderator: but the overall concept is simple

Ken-ST Moderator: what I dont get....is why are we receiving such high leverage and allowing us to receive interest on it?

Amlo: That's crazy

Ken-ST Moderator: whoever is providing the leverage, Im sure, wants a piece ov that

salozar: good question

Ken-ST Moderator: Forex is also a very unregulated industry

Ken-ST Moderator: holy cow, you can be right off the street and become a forex broker with no tests

Ken-ST Moderator: Brokerage firms can go belly up with all their shady dealings and you could lose all your money

Ken-ST Moderator: ie:  REFCO

Amlo: Do you trade Forex, Ken?

Ken-ST Moderator: No

Ken-ST Moderator: But a lot of people lose their money trading Forex

Ken-ST Moderator: which is why I want to find a way to make money in it

Amlo: Yep

Welcome to SwingTrades.com!

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You can now talk

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Ken-ST Moderator: Hello James

James-ST Moderator: hey all

Dusty Hey James

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Ken-ST Moderator: wb

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Ken-ST Moderator: wb

alex ty

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Ken-ST Moderator: wb

cbat ty

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Ken-ST Moderator: anything moving out there?

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Ken-ST Moderator: wb dan

Dan i ty

rex BIIB has been good to me today

James-ST Moderator: ah very nice, all time highs

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rex good earnings and pr, up 3pts in the last few day

James-ST Moderator: are they the ones leading the way in bird flu vaccine?

rex There drug Tysabri was pulled off the market in Feb after a patient died, but it has been conditionally aproved to go back on the market my FDA, that plus earnings GOOD!

James-ST Moderator: [img id=em-8]

rex They are also looking at making some acquisitions in the near future

James-ST Moderator: Hey did anyone see that kid Van Der Sloot on Primetime yesterday?

James-ST Moderator: The main suspect of the girl Holloway disappearance?

Ken-ST Moderator: No what of it

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James-ST Moderator: I am beginning to have my doubts that he is the one.......  either he is the greatest liar on earth, has not cracked under extreme pressure the last year, told the most frank story for the hell of it.........

James-ST Moderator: Not many truly guilty kids goods could be threatened, interviewed, and pursued for a year and stick to their story.  Then decide to go on one of the top US news shows and sit there for hours and tell his side of the story.

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Ken-ST Moderator: but why does he keep changing his story?

James-ST Moderator: http://abcnews.go.com/Primetime/story?id=1656142&page=1

James-ST Moderator: well, i am pretty sure your story would have inconsistencies if law officials kept throwing you in a room and asking you questions, eh?

Ken-ST Moderator: not if I am telling the truth

James-ST Moderator: also, he lied to the girl's mom when she appeared at his door, but have you seen the mom???  heck if I was a teenager cruising around and a lady starting screaming and cursing at me out of the blue for no apparent reason I would have given her the business too.

James-ST Moderator: well, not saying he is innocent.....  just this interview may make you realize that he is just a punk kid......  but didn't do it.

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steveg I suspect from the time line that he didn't do it. not enough time.  His friends though are kind of dodgy

Ken-ST Moderator: yeah, I thought that about his friends too

James-ST Moderator: i agree, der sloot is not the one, has to be the two brothers

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jg I think they  were all on it together...supposedly he left his shoes at the beach when he left her there the night it happened...why would he do that..unless something had happened and he wanted out of there really fast?

jg I feel they are all shady and have been doing this to tourists for awile..and it went to far?

James-ST Moderator: you are probably right jg

James-ST Moderator: something is mucky down there.......   too bad it will never be solved IMO

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gd rimm on fire

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gd both ways

Ken-ST Moderator: Ok gang, I ll be taking a short break

Ken-ST Moderator: brb

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Dusty COnR a bit early but....HOD?

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James-ST Moderator: yes, that 5 minute chart of it is also very overbought as well......

gd rimm incredible move

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rex RIMM, amazing

James-ST Moderator: [img id=em-5]

jy RIMM up 6.85 at 76.5

James-ST Moderator: very nice, are you trading it?

gd no

jy not me

rex short panic?

gd maybe

James-ST Moderator: holy smokies

James-ST Moderator: slaughterhouse

James-ST Moderator: "shorts please line up and get some"

rex RIMM news out, no injuction to be issued against blackberry maker

gd longs could be in for a nasty surprise at the other end too when the dust settles

James-ST Moderator: wow

James-ST Moderator: agree gd

James-ST Moderator: ty rex

James-ST Moderator: check daily for RIMM, a move like this is not unusual for them

gd watch out below

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gd played merge from 19.15 out in the .60 range and then the spike

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Ken-ST Moderator: hey bear

Ken-ST Moderator: what shaking

bearrally damm, 1st time i ever make money on rimm

Ken-ST Moderator: nice

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James-ST Moderator: wb julie, guru, dan

James-ST Moderator: Questions or comments gang?

James-ST Moderator: Februrary 24th = Mid August

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Ken-ST Moderator: Ok lets open up any alerts

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Ken-ST Moderator: hi big

Ken-ST Moderator: wow

Ken-ST Moderator: there is nothing

Ken-ST Moderator: QGEN

Ken-ST Moderator: but its lacking any energy

JP CONR?

Ken-ST Moderator: or volume

gd who is ready to short rimm??

Ken-ST Moderator: CONR is overbought

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Ken-ST Moderator: wb Clyde

gd Ken...played celg as a daytrade...didn't want to hlod into the weekend

Clyde-Harmon Trading thanks again Ken

gd hold

Ken-ST Moderator: cool gd

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Ken-ST Moderator: wb Cale

cale ty ty, anything open yet?

JP nope

Ken-ST Moderator: nope,

Ken-ST Moderator: dont see anything right now

Ken-ST Moderator: crazy

cale Ken, you have a Short for ISRG at 88.94 on the table, is that right?

JP This has been one hell of a boring week.

Ken-ST Moderator: sorry, that was accidentaly left on after the turn

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JP MRGE is breaking its 50 MA, don't think it will make it down to a new LOD though.

Sean maybe HOD though?

Ken-ST Moderator: its in the middle of its days range

julie Did mill hang up his trading spurs?

Ken-ST Moderator: yup

Ken-ST Moderator: If anything MRGE has a slight long bias

Sean yeah I havent seen him around

Ken-ST Moderator: due to its consolidation aobve the 20 ema

julie too nervous for this business

Sean yeah....he would ask for the stop a dozen times everyday...

Sean when it was right in front of him

Ken-ST Moderator: There was a previous guy who was kinda the same way

Ken-ST Moderator: very negative

gd stops...what stops...we don't need no stinkin stops

Ken-ST Moderator: lol

James-ST Moderator: [img id=em-5]

julie they come and they go

James-ST Moderator: that is what that lady who has 2,000 shares of GOOG at 440 is saying........

julie lol

gd lol

Ken-ST Moderator: buts odd, because we play primarily breakouts

Sean lol wouldnt she be in debt?

Ken-ST Moderator: but he insists they dont work

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Sean how long was mill here for?

JR I wonder if she sold and took her losses.  I have to say I doubt it.

julie he said he traded for some time

gd a little longer than jose

julie but I have doubts

Sean jose had just joined when I left in August

James-ST Moderator: no idea how long those two were here

Ken-ST Moderator: mill just about 1 month

julie mill will live longer w/o trading

Sean lol

bigb huh

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bigb it made me whisper right now...all i did was type

julie sure

Sean you must have selected a name

bigb lol julie

Sean mill will be back, they always come back

Sean I did haha

Ken-ST Moderator: lol

Dusty Maybe when Izzy comes back? ;-)

julie After he gets another grubstake

Ken-ST Moderator: Would like to see NTES have some consoldiation near the hod

gd lol

cale a lot of consolidation on MRGE

Ken-ST Moderator: ...above its 20 ema

julie izzy was fun

cale is that bad?

Sean who was izzy?

julie mad trader

Sean haha

Sean girl or guy?

James-ST Moderator: lmao

Ken-ST Moderator: not good or bad, just recognizing what is

julie izzy was neither

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Ken-ST Moderator: Nextel commercial with the skiers is hilarious

Sean julie how long have you been around for? I remember there was a woman who used to trade here for her husband while she stayed at home with the kids, is that you?

Ken-ST Moderator: but not sure what they are getting at

julie nope

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Ken-ST Moderator: wb

JP Anyone in MRGE now?

alex ty

James-ST Moderator: hey julie.....i saw the commercial......  your handle is clear as day......

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James-ST Moderator: lmao......  you can tell your family and friends you are in a commercial

James-ST Moderator: kinda

julie ?

cale Hey theres that Slacker James, where have you been James???

James-ST Moderator: lol

cale I would tell anyone else but I missed you this morning :)

Dan royalties

James-ST Moderator: hey thanks cale

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Dan rather, residuals for Julie

James-ST Moderator: dunno, weak stomach.....  i like to eat raw foods.....   but the number of food poisonings i get is ridiculous...  my wife wants me to see a specialist

James-ST Moderator: what is he going to say, " Cook your fricking food"

julie James, stay away fromn the raw chicken feces ok?

Dan Road kill?

James-ST Moderator: yeah, that would help

julie too much sushie give you worms

JR you really should take her advice.  I had a friend who had similar problems and turned out to be a parasite....lost a section of his intestine, had to wear a bag, etc.

cale James, stay away from any Feces okay?

JR not to scare you of course....

James-ST Moderator: I go to Ruth Chris' Steakhouse....."How would you like it done?"  Just give me the steak out of the fridge.

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James-ST Moderator: geezus JR

James-ST Moderator: ok, that got me scared

julie Ruth Chris cooks the steak in butter

julie better without

JR I wouldn't kid about this.  I almost lost a dear friend.

James-ST Moderator: ok will schedule something

James-ST Moderator: That lady was briefly happy when GOOG hit 380, and sad when it dropped 4 bucks in a few minutes.......

julie James, heres a simple test to see if you have worms.

Sean JR, what kind of symptons did he have?

julie Hold a glass of warm milk under your nose

James-ST Moderator: ?

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julie anything crawl out?

JR I couldn't tell you the specifics, other than I think he continued to not feel well, they couldn't figure out what it was, after some time discovered it was a parasite, but it had done a bit of damage by them

JR then

James-ST Moderator: [img id=em-4]

Sean scary stuff..

Ken-ST Moderator: MRGE continuing its trend

Ken-ST Moderator: testing its 50 ema now

julie James looks Asian when he's angry

JR I was thinking the same thing

James-ST Moderator: that is a "cringe"  emoticon

julie not a grunt?

jy julie, thta's funny.

Dusty Perhaps a bit more fiber in his diet?

James-ST Moderator: a push the stock emoticon.......[img id=em-4]

James-ST Moderator: GOOG<==========[img id=em-4]

Ken-ST Moderator: CONR at new hod

Ken-ST Moderator: but the stoch are overobught

WCBLBBALL HRB is a days low.  can you explain to me from a chart guys point of view what that should mean to me?

Ken-ST Moderator: if you are adventurous the stop would be 24.89

WCBLBBALL ty

julie WCB lol

JR I have the GOOG lady's email but I'm afraid to ask if she is still sitting on it.

Dusty played CONR in at 24.86. Step my stop too light and was stopped out before the breakout. Good lesson.

James-ST Moderator: Hey it may be slow as far as triggers for us gang......but i know you guys are trading......throw out personal trades and stock ideas...........we are here to share info.

julie I aint trading

James-ST Moderator: Just three weeks ago we were going 10 triggers a day.....in this short 4 day week we are under 5........  go figure.

julie lost emough today

julie enough

cale WoW QGen

James-ST Moderator: [img id=em-2]

Dusty Short on LEA as a swing trade 21.66 if anyone is interested.

steveg hey im up 10$

jy ken, what's the firm's url ?

cale lol Steveg

steveg yeehaw

Sean I havent traded anything today, but I'm looking after an option for my dad on WBMD which was reccommended by this other program he uses

julie who is with ea direct here ?

cale better then a loss

cale HURC is just be up up up all day

James-ST Moderator: LEA daily......no support

WCBLBBALL still no volumn on chdx that i spoke to you about the other day.  every time it makes a trade it changes 7-10 cents .  i have 3656 shares.  should i just bite bullet or pray for miracle

James-ST Moderator: WBMD, long or short sean?

Sean long James

James-ST Moderator: ah

jy ken, can't open the site

Ken-ST Moderator: it all depends on your intentions on the stock

julie WCB, I found praying usually results in greater losses

WCBLBBALL qgen dropping don't look like anything is going to happen

julie even if your religious

Ken-ST Moderator: short term its under its 5 day EMA

Ken-ST Moderator: but longer term its daily in uptrend

James-ST Moderator: wc.....set a stop, take it without emotion......   no amount of praying will make a stock do what you want.......  sometimes just set your max loss you are willing to take, and if it hits, move on to something better

WCBLBBALL good advice

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WCBLBBALL no volumn at all...that scares me.  no announcements

gd rimm falling down

JP What just happened to CONR?  down .50 in a blink

julie Ken whats hap w/futures?

Ken-ST Moderator: yup

WCBLBBALL made a quarter on BEAS

cale did the courts make a ruling on RIMM??

Ken-ST Moderator: volatile

Ken-ST Moderator: long right now on futures

Ken-ST Moderator: close to our target

Sean I think thats why my dad has me trade for him, I dont get emotional about it. I guess emotions are the demise of some traders..

WCBLBBALL no ruling just delayed judge said work it out or both of you won't like what i work out for you

Ken-ST Moderator: you are young but smart Sean

gd not sure many people will want to hold rimm over weekend

Sean heh thank you Ken

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cale Heres one  MTRX nice little Run up

WCBLBBALL i'd like to talk to clyde with harmon

jy Sean, do you trade full time ?

Sean yep

jy that's cool

Sean My dad doesnt have the time because of his work, so I trade for him

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JR so what did your dad do to teach you how to trade

julie Sean, you should do an interview for Active Trader

Sean Yeah he set me up with a paper trading account

Sean last Summer

JR books, seminars, or learn by doing?

julie paper  hundred dollar bills?

Sean haha

julie JR, are you seeking the kids secrets?

JR always curious to see how people learn

JR or are they just winging it

julie he's a born natural

Sean I was very reluctant at first, I never thought I would be able to learn

julie cool as a cucumber

JR no such thing without knowing basic principles

Sean Das Trader looks insanely confusing when you know nothing about day trading

Dan top 8 % losers from yesterday all up today

JR have to agree, that's why I haven't switched

julie lol

Sean Ive grown to like DAS, I had to learn Trader Work Station and MBT Navigator...I really dont like them

Ken-ST Moderator: You should get a walkthrough from Clyde

Sean Im not to keen on browser based platforms

JR I thought he did Harmon?

Sean Harmon uses DAS I believe

Ken-ST Moderator: yeah, but they work with DAS

Ken-ST Moderator: and they do walkthroughs

cale Ken & James: I think you guys should Plan a DayTrading Trip To [b]Las Vegas[/b]

Sean lmao

JR yes

Clyde-Harmon Trading I have many talents

cale [b]is hearing crickets again[/b]

Ken-ST Moderator: lmao cale

cale :)

Clyde-Harmon Trading Anyone interested in a walkthrough can send us an email at info@harmontrading.com

Ken-ST Moderator: when do you guys do the Clyde?

Sean Clyde, do you trade on any of the calls Ken and James make?

James-ST Moderator: that harmon partnership is good for people interested in trading stocks, but are new......  you do not need the 25k capital to daytrade

James-ST Moderator: what ken?

James-ST Moderator: who is doing clyde?

Ken-ST Moderator: lol

Ken-ST Moderator: the walkthrough

Sean lol

Clyde-Harmon Trading No, I usually don't have time to follow the trades Sean

Clyde-Harmon Trading haha. Is "The Clyde" a new dance step?

jy Judge refuses immediate injunction against RIM's BlackBerry service in patent dispute with NTP. RIM shares rocket 11% on the news

James-ST Moderator: anyways, if you have friends are family who would like to try daytrading but do not want to /  don't ahve 25k capital should take a look at them.  they can try their hand with minimal capital exposure.

gd good answer Clyde...that's your story and you are sticking to it...:)

Clyde-Harmon Trading I am doing the walkthroughs for now, until we can find someone with a less dorky voice.

Dan good glavin

Ken-ST Moderator: Good luck with that

Ken-ST Moderator: should be easy Clyde

Clyde-Harmon Trading Yeah, you would think

Sean Arent you limited to just 3 trades a week if youre under 25k though James?

Clyde-Harmon Trading No, you can daytrade without restriction sean

Clyde-Harmon Trading Haha gd

Sean ah cool

James-ST Moderator: yeah, i checked them out, since they are our sponsors and stuck clyde in here.

Ken-ST Moderator: We used to suggest AIM in here

Ken-ST Moderator: but they are not the same now

Sean yeah I rememebr that

Ken-ST Moderator: and Harmon a whole lot better

James-ST Moderator: As a partnership, you and all the partners equity are combined to be over 25k.....  as such the partnership is treated as one entitiy and will be above the daytrading restrictions

Sean ahh thats right James, my dad explained that to me

steveg wow clever idea

James-ST Moderator: so is your pops at work and just calls you to see how things are going?

Sean yep exactly James

James-ST Moderator: yes, very interesting steveg, clever

James-ST Moderator: dayum dude, your pops is the best

Sean lol

steveg thats the kind of thinking that will keep America great

James-ST Moderator: "Here son, here is 5 digits, I want you to sit at the computer all day.......while you surf the internet and do your stuff, I want you to trade stocks here and there"

Sean lmao

James-ST Moderator: yeah steveg.....

James-ST Moderator: agreed

Sean how many sponsors do you guys have, I mean how did you start out? Was there only 1 or 2 members in the beginning?

steveg hey for us non - chatters what does imao mean?

James-ST Moderator: much better than AIM, at least Harmon is in Delaware as opposed to overseas as well.....  and the capital is insured by the SIPC as well, like a normal brokerage.

Sean laughing my ass off

James-ST Moderator: lmao, lol, rotflmao are common internet abbreviations, showing humor

cale James thanks for pointing that out

Sean yeah james is down with the internet speak

steveg i get that much.

steveg ok rotmalow first

cale lmao = Laugh My Ass Off

James-ST Moderator: laugh out loud, laughing my ass off, rolling on the floor laughing my ass off

cale LOL = Laugh out Loud

James-ST Moderator: cale, pointing what out?

steveg super!

cale what the abbreivations are

cale imo

James-ST Moderator: sean, that guy bob who was in the room while at 45,000 feet over Greenland was one of the original members from a few years ago

James-ST Moderator: ah

cale Bob not around much anymore?

James-ST Moderator: good ones cale, IMO, JMHO steveg, In My opinion, Just My Humble Opinion

Sean oh yeah thats right, youve actually been around for a few years

steveg anyone mcoomn?

cale James how long has it been for me now, would ya say?

James-ST Moderator: bob is in, but evidently his selling of heavy machinery is booming or something........if you need a Caterpillar see him

Sean have you tried any internet advertising James?

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steveg milk comin out of my nose.

James-ST Moderator: lol steve

cale lol SteveG

Ken-ST Moderator: lmoa

James-ST Moderator: low long cale?

James-ST Moderator: you been here?

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James-ST Moderator: dunno

James-ST Moderator: but i feel myself getting in shape with all your exercising

James-ST Moderator: lol

cale see its been so long you dont even remember

James-ST Moderator: yeah

Sean there is a lot of quiet members Ive noticed

cale did the market just take of a bit?

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Sean or are they only verbal on positive days lol

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cale brb

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Dusty All this excercising is making hungry. I think I'll have another Chocolate Chip coookie.

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James-ST Moderator: I am not sure what the deal is, but if you e-mail the site, I believe you can set up a referral / affiliate program.....  where if you refer people to swingtrades, prodaytrading, you will get a recurring monthly referral fee.......

steveg i for one sean am definetly more talketive on pos days

Sean thats pretty cool James

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