06/02/06 Chat Session

ozzy: gm all

Jen: gm

georgie: gm

Ken-ST Moderator: gm all

Jen: gm

ozzy: gm Ken

Jen: Hey Ken, did you see who won the maserati?

georgie: Morning Ken

Ken-ST Moderator: Yeah I was just watching

Jen: humble guy, gotta love it

Ken-ST Moderator: gm jen, ozzy, georgie

Ken-ST Moderator: gm spx

Ken-ST Moderator: gm jharms

jharms: gm everyone

ozzy: gm

spx1280: gm guys

allegrobob: gm all

spx1280: I had nightmares last night with the unemployment data

allegrobob: wow - a number of stocks are up this morning

Ken-ST Moderator: gm bob, claudia, Trev

Trevor: gm

Ken-ST Moderator: nightmares?

spx1280: I bought stocks yesterday at 3.59, so I was really concerned about the data

Ken-ST Moderator: ah i see

Ken-ST Moderator: gm Nisha

claudia: gm everyone

nisha: gm

Ken-ST Moderator: gm vikm

vikm: gm

Ken-ST Moderator: gm prophet

prophet: gm everyone

spx1280: 12 trading hours???

Ken-ST Moderator: You can trade it for 12 hours right now

spx1280: NYSE and Euronext merger will create an official 12 hours trading market

mac: gm

blk_lbl: gm

Ken-ST Moderator: gm Dan, mac, blk

claudia: UTIW?

blk_lbl: that's cool about the 12hrs open market with nyse euronext isn't it spx?

Ken-ST Moderator: gm ms

ms: gm

spx1280: I think is not good for us, because it will dilute the activity into more trading hours

blk_lbl: wonder how soon it will happen

Ken-ST Moderator: thats just more for the chronic traders to get their groove on

blk_lbl: i thought about that but won't it also create more activity?

Ken-ST Moderator: gm dks

blk_lbl: or no?

Ken-ST Moderator: UTIW in recent range

dks13827: gm  Ken, all.

spx1280: more hours is not goinf to create more appetite for stocks, is going to bring more dull hours of trading

Ken-ST Moderator: gm nyy

nyy2: gm all

Penfold: blk - market theory would say that more access means less volitility overall...

Ken-ST Moderator: Ill keep eye on UTIW

blk_lbl: lame

blk_lbl: cause of more liquidity

blk_lbl: ?

Penfold: but that just means that scalping will die MORE than it already has, and we'll just have to read 15 and 30 min charts

Ken-ST Moderator: I would tend to agree with that

Penfold: the 6.5 hour, if you notice, already only has about 4 good traiing hours - open to 11/11.30, then 2 to 3:30,

Penfold: right?

blk_lbl: really only like one hour

clear: gm all

Penfold: :)

blk_lbl: so i guess you're right

spx1280: 9.30 to 11 and 2.30 to 4.00... for the swings I only buy stocks after 3.30

Ken-ST Moderator: gm JP, david, julie, Pen, Clear

david: gm all

Penfold: NBD - I mean anyone who's making $ out of the market today (as apposed to 8/10 years ago) is playing in a muc tougher market already, so NBD

dmoff118: gm all

Penfold: atleast the market SHOULDN"T get taken away from us....

rdub: gm

Penfold: and outsourced to India :)

georgie: ESL,  OXM?

blk_lbl: wouldn't it also open up europe more to us thou

blk_lbl: in terms of playing those companies that don't list here

blk_lbl: because of stringent sarbanes oxley

blk_lbl: leg

blk_lbl: islation

waso: gm all

Penfold: maybe... I'm so chauvanstically Amuerican...

Penfold: Not a very global thinker...

Penfold You're probably right!  Imaging: a dozen more TIEs... :)

James-ST Moderator: gm all

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jj31 gm, Ken, James, everyone

James-ST Moderator: gm jj

dks13827 anyone else in Phoenix area ?

spx1280 Connecticut?

Penfold LA?

claudia ERTS?

Penfold Ken./James, so was yesterday an ACTUAL Bull rally?

blk_lbl lol pen

Ken-ST Moderator: gm waso, James, jj

Ken-ST Moderator: ERTS in recent range

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Penfold blk0 no seriously, I hadn't though of that... new companies, new unkilled volitilities

Ken-ST Moderator: gm djg

blk_lbl PHM

Ken-ST Moderator: on a longer time frame, we sitll view it as a rally in an overall downtrend

Penfold I'll take one day! ITs a start

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RoGeRj GM!

Ken-ST Moderator: gm RoG

Penfold plus just gives the market more room to RUN DOWN... I only ask for movement, not direction :)

blk_lbl i guess a lot of emerging markets/established gloabal companies don't want to be listed here anymore cause of stringent legislation we have here now so i guess could be good

blk_lbl me too about movement vs direction

blk_lbl obviously

Penfold the cry of the daytrader

Penfold (which is why "value" investors hate us...)

Penfold but, whatever ;)

Ken-ST Moderator: gm everyone

Ken-ST Moderator: Let do a market assessment:

spx1280 value investors don't us, we provide liquidity to the market

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

Ken-ST Moderator: Hourly Chart:  Uptrend

blk_lbl the smart ones don't

Ken-ST Moderator: 5 min chart:  uptrend

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jy gm

Ken-ST Moderator: overall there is a slight sideways to uptrending bias to the market

Ken-ST Moderator: please note however

Ken-ST Moderator: the Market is now gapping to the downtrending MAs on the Daily chart

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nyy2 CT

spx1280 what does that mean????

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gd gm all

Penfold QUESTION: Any anyone working with IB tell me how to view "Prints"? (Just intraday/today)

tryhard gm

Ken-ST Moderator: Means, that short term we in sideways to up, however on a longer time frame we view this as a rally in an overall downtrend

Ken-ST Moderator: Time and Sales pen?

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Penfold Yessir

jose gm James, Ken, everyone!

Ken-ST Moderator: gm brady, jose

brady gm

JP TIE?

James-ST Moderator: gm brady,tryhard, gd, jose, j5

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Ken-ST Moderator: TIE still in recent range

James-ST Moderator: gm jb

johnboy good morning team

blk_lbl hey jb

Ken-ST Moderator: gm jb

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claudia SCSS?

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Ken-ST Moderator: adding NURO

James-ST Moderator: gm duane, dennis, rube

prophet has logged out

Ken-ST Moderator: gm duane, Rube, Dennis

Ken-ST Moderator: Good Trading Everyone

dennis hi james

duane gm James, Ken

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dennis and ken

matt gm all

matt gm Ken/James

Rube Good Morning.

blk_lbl maybe i'll get my sell-off in rmbs today

clear has logged out

Ken-ST Moderator Update!

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BOOM 31.51[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BOOM 31.51[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]BOOM 31.51[/b]

prophet has entered DayTrading Chat

Ken-ST Moderator: Wide stop noted on BOOM if triggered

Ken-ST Moderator Update!

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator: BOOM is close

JP IFO 2%

Ken-ST Moderator: Holding off on NEWP hod.  Possible resistance area noted above

J5 has logged out

spx1280 boom got very close

Ken-ST Moderator: BBOX is close as well

Ken-ST Moderator: gj JP

Penfold MNST might hit early...

Ken-ST Moderator Short!

Ken-ST Moderator Short!

Ken-ST Moderator Short!

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]MNST 48.58[/b]

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]MNST 48.58[/b]

Ken-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]MNST 48.58[/b]

Ken-ST Moderator Update!

vikm has logged out

Ken-ST Moderator: [b]cancel SFCC watch[/b]

Ken-ST Moderator Short!

Ken-ST Moderator Short!

Ken-ST Moderator Short!

Trevor Ken still wide stop on BOOM?

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]BBOX 45.24[/b]

Ken-ST Moderator Update!

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]BBOX 45.85[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]BBOX 45.85[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]BBOX 45.85[/b]

Ken-ST Moderator Buy!

Ken-ST Moderator Buy!

Ken-ST Moderator Buy!

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]BOOM 31.51[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]BOOM 31.51[/b]

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]BOOM 31.51[/b]

Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Penfold great calls

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Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BOOM[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BOOM[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BOOM[/b]

Ken-ST Moderator: ty pen

Ken-ST Moderator: gm pepe

djg610 damn neither of my triggers worked

gd nice call on boom

blk_lbl boom boom

Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BBOX[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BBOX[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]BBOX[/b]

Ken-ST Moderator: ty

matt Boom was nice - ty guys

dks13827 DJG  WHY ??  platform ?

djg610 das

djg610 idea

djg610 no idea

James-ST Moderator: BBOX new LOD

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Ken-ST Moderator: gm alex

James-ST Moderator: gm alex

alex gm all!

jose ty James, Ken great way to start the month, have a great weekend everyone and good luck with the rest of the trading!

blk_lbl neg territory

Ken-ST Moderator: look at that market give it up

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blk_lbl it's raining dollars

Penfold those were all my longs overnight ;)

James-ST Moderator: ty jose, tc bud

Penfold but I got Mnst.. at .73

blk_lbl anybody wanna short rmbs with me?

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blk_lbl it's beautiful

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allegrobob RMBS been there done that already

blk_lbl was short overnight

david mnst .78 on market order

allegrobob good call Blk

Ken-ST Moderator: Market gapped right up to the 50 EMA on the Daily chart

djg610 when setting triggers   do you guys use market or limit orders when trigger hits

Ken-ST Moderator: I am a big fan of market orders

Penfold depends.. super thin, I will set limits

Ken-ST Moderator: I use mostly market orders

djg610 missed the first 2 because i set limits I think  .03 of trigger

Ken-ST Moderator: Right, if it is a really thin stock I may opt for a limit order

Ken-ST Moderator: Executions get better with time.

dks13827 yes    IRBT   burned me  yest    for    .05 loss

allegrobob tight stop

georgie djg I set a a market order for BOOM but it filled way above trigger price, I got 1/2% though and I'm not on direct access yet

dks13827 5  cents

allegrobob gap down on wind

djg610 thanks georgie  my 2nd day with das

blk_lbl you likey the das dij?

Ken-ST Moderator: djg, I would suggest using ARCA on DAS

Ken-ST Moderator: to enter

Ken-ST Moderator: the auto routes are sent to market makers for cheaper fills

Ken-ST Moderator: They are great for exits

blk_lbl ken what do you think about NITE?

blk_lbl for an ecn?

djg610 thanks

matt IFO

Ken-ST Moderator: NITE is not an ECN

j5 what's BRUT?

blk_lbl it's a maker?

blk_lbl i know cramer was talking about them the other day

Ken-ST Moderator: BRUT has merged with INET

Ken-ST Moderator: still an ECN

Ken-ST Moderator: NITE is MM

j5 I can choose BRUT ARCA or INET

blk_lbl i have been getting good fills lately with nite but won't use if they are maker

j5 well and the usual AUTO and NYSE

djg610 ARCAL or ARCAM

dks13827 can anyone comment on using 2 exits, selling half at first target ??

James-ST Moderator: Market new LOD

blk_lbl tie not really following market today

blk_lbl sort of i guess

dks13827 cause  BBOX  way down and  yesterday  RAIL,  way down !!

blk_lbl not as much as usual tho

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julie s scss

julie l bbox

rdub blk you watching TIE?

blk_lbl always

rdub just missed it myself

rdub tried short .46 no fill

julie out bbox

djg610 thanks julie great bbox

rdub nice call julie, I was wondering when you were going to shout that bottom

julie gj dj

julie scss LOD might get ugly

Trevor This Economy is Sloooowing Doooown!!!

James-ST Moderator: As always gang, keep yelling out other stocks of note or personal trades........

julie l wind

Trevor Real Estate is Soooo Oooover its not funny!!!

James-ST Moderator: bearrally?

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

Trevor Ponifficator!!!

James-ST Moderator: ah

allegrobob sndk near LOD

blk_lbl lol

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Trevor Lower 5th Avenue Greenwich Village/Flatiron District in Manhattan 3 buildings were "Smoked" the last 2 months!!!

julie out wind

ms Julie, thank you for wind

julie yw ms

georgie TNT near HOD

djg610 julie good on both scss and wind  nice

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Trevor I am renting an apartment in a new building in the city where I am going to spend $2,500 less per month than if I owned even with the tax write offs and the Managing agent is stressing out since I didnt sign the lease yet and the rental market is supposed to be strong when the sales market is weak!!! HA!!!

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Ken-ST Moderator: where you thinking of buying?

julie BOOM@hod

spx1280 CAT down, JOYG down but DE up!

allegrobob Julie, I show BOOM HOD at 32.03?

julie yep that when Im buying it

Trevor Ken all I can say is HELLS NO!!!  I crunched the numbers and it is 2,500 less to rent than own even with the write offs for RE tax and Mortgage now why would I expose myselft to a 20-25% loss in equity on the apt if I owned it???

Trevor I guarantee the overall RE market in the US sells off 20-30%!!!

Ken-ST Moderator: yup

ms Trevor what city are you in

Trevor Pheonix AZ last year had 4,500 homes on the market...in april this year that number skyrocketed to 45,000...no joke in was on BSNBC

djg610 i hope san diego goes down  would love to buy a place out there again

Trevor Manhattan

johnboy Trevor, except for Gold Igloos, they will appreciate imho

Ken-ST Moderator: yes I agreee that its not a sellers market right now

Trevor San Diego is the canary in the coal mine...numbers there are already bad...

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Trevor if you purchased last june 05 you are not breaking even for 5-7 years from then or even now...

Trevor so thats 6-8 years

djg610 i sold in june of 05

Trevor if you purchased 3 years ago you probably will break even 2 years ago you lost and need i say more for last year or this year...

blk_lbl what sucks is that girlfriend and me have to sell in like 6 mo but we still have like 30k appreciation i think

djg610 but my neighbor similar condo made same percent gain selling 5 months ago

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blk_lbl it depends on where you're at

James-ST Moderator: blk, why do you have to sell?

James-ST Moderator: wb cale

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James-ST Moderator: doh

Trevor RE market started selling off last July 05 good job dig610

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djg610 mine sold in less than a week though

blk_lbl we got a 2 year mort

djg610 hers took longer

Trevor the whole country is going to sell off!!!

blk_lbl she did it with her dad

Cale Hey, you guys started with out me

blk_lbl god knows why

Cale doh

blk_lbl HI CALE

Cale Good Morning everyone

djg610 my mortgage was 3.375  wish i could get that again

James-ST Moderator: yep djg

James-ST Moderator: gm cale

Ken-ST Moderator: gm Cale

blk_lbl i'm hoping we might still sell a little above

James-ST Moderator: blk, could be worse, you guys could be selling for a loss.......

blk_lbl but not counting on it

djg610 just takes longer now

Trevor did anyone see the US automakers numbers yesterday?  double digit declines in sales!!!

blk_lbl too true james too true

Trevor does anyone truely think those numbers are going to turn around in the next quarter?

James-ST Moderator: geez pontiff, you and bearrally need to get together and hold a pep rally

blk_lbl wsj story i read other day about guys who prey on people late on their payments

djg610 mnst

James-ST Moderator: note:  bearrally did not show his ugly mug this week as this market bounced

blk_lbl can take over mortgages for hundreds of thousands less apparently

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

Cale how were the employment numbers today?

Trevor only 75,000 new jobs

djg610 buying people out of preforeclosure issues

Trevor but thank god that wasnt a negative number

Penfold Go MNST!

blk_lbl sloowwwing dooowwwn

blk_lbl hopefully we can pause now bernanke

blk_lbl hey cale tell your boy bernanke to stop getting rid of our global liquidity

Trevor i dont think the next wave of economic numbers are going to be that strong before june 28th meeting but he might raise one more time...

blk_lbl he will cause there's no meeting in july

blk_lbl can't risk not doing it

david out of mnst 1%

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blk_lbl nice on mnst

Ken-ST Moderator: gj david

Cale Bernanke who?

blk_lbl exactly.... you run the fed from now on

blk_lbl we don't need no fancy harvard degrees

david 10.22 out of mnst 1% thankyou market order and ken

blk_lbl just our gumption

blk_lbl and our good looks

blk_lbl and marketing skills

johnboy and modesty

julie s sohu

blk_lbl and jb

Cale mostly looks

blk_lbl ken can take up that mantle

blk_lbl i'll go with gumption

blk_lbl since i don't really know what it means

johnboy it's what the youth of Springfield lack, according to Grandpa Simpson

Penfold could you imagine a scene in where a day trader became Fed?

blk_lbl it's just really fun to say

Penfold "I believe that stocks are going to get **** crazy.... thank you"

blk_lbl lol

blk_lbl the hedgies must have stopped arbitrage in TIE or something cause it's not seeing much action today

blk_lbl actually i guess hedgies relatively small proportion of market overall

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Clyde-Harmon Trading gm everyone

Ken-ST Moderator: gm Clyde

jy Juile, ty for WIND long.

gd tie running

blk_lbl the wrong way

jeff has logged out

nyy2 tie hod

James-ST Moderator: that Maserati was nice this morning.......for the BSNBC challenge winner

blk_lbl did they show him driving off?

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Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Ken-ST Moderator Profit!

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MNST[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MNST[/b]

Ken-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MNST[/b]

dks13827 SWEET

spx1280 gut

Penfold MNST... very nice gntlemen, thank you

James-ST Moderator: blk, thye just presented the guy with the maserati

blk_lbl lame

blk_lbl he should have driven it through the lobby doors or something

Ken-ST Moderator: gj Pen

jy MNST biggest winner today for me.

spx1280 airlines getting smoked, oil hurting 'em

Ken-ST Moderator: wow how lame is that Esignal commerical

Ken-ST Moderator: gj jy

ozzy me too jy

julie wow look at wind

blk_lbl rmbs

djg610 nice runner i was out long ago

jy yes. julie, I exited WIND long early @8.39 ebtry @8.11

Ken-ST Moderator: gj jy

julie who would have guessed it would scamper

jy ty kken

djg610 you probably

Cale bit your toung blk

julie loooks like it will try to close gap

blk_lbl lol

djg610 julie you  still s sohu ?

spx1280 $nya looks better than $spx that's a good sign (I think)

julie tes dj

julie yes

blk_lbl should i get out of rmbs yet cale?

julie wind was a buy @8.41 also, I didnt take it

julie :(

julie 5% from there

jy yes. Julie. same here.

Ken-ST Moderator: BOOM new hod

James-ST Moderator: BOOM new HOD

James-ST Moderator: doh

jy I thought it wasn't going to break the hod @8.40. that's why I sold @8.39. but profit is profit.

Ken-ST Moderator: MATK may have some upside past the HOD

jg has logged out

Ken-ST Moderator: we will not issue however

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Ken-ST Moderator: wb

allegrobob thanks for BOOM julie

julie l isrg

James-ST Moderator: unreal......7 family members killed in their home in Indianapolis

johnboy from a tornado?

Ken-ST Moderator: Murdered

johnboy ouch, that's brutal

djg610 thanks

spx1280 any ideas on the banks sector, it looks hot

spx1280 $hwi

julie l scss

blk_lbl dundies with RMBS

blk_lbl methinks it's time for a drink

spx1280 either do I, I'm having a glass of milk

blk_lbl want some jack in that milk?

spx1280 $iix

spx1280 I'm not 21 yet

blk_lbl kind of a messed up white russian

Ken-ST Moderator: how old are you spx?

spx1280 20

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

James-ST Moderator: BBOX new LOD

julie rmbs may have made avery short trm botom

blk_lbl RATE looks possible type c

blk_lbl rmbs will prob go down all day.... but gotta lock in some profits

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julie s wind

James-ST Moderator: [b]CANCEL FURTHER TRIGGERS, TURN / LUNCH PERIOD[/b]

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James-ST Moderator: Questions or comments?   short week.....small market rally on light trading

julie out 1/2 wind

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James-ST Moderator: BOOM new HOD

jy BBOX new lod

blk_lbl man vodka's hard to drink in morning without a chaser

blk_lbl no more diet coke for me

djg610 in college whe used to go to a bar that was the 1st to open 5 or 6  am  screwdrivers were clear  hard to drink

Cale lol

blk_lbl those are for benders

julie1 out 1/2 scss

Ken-ST Moderator: blk do you go to the casinos?

djg610 good on scss thanks

david thank you julie

blk_lbl just to eat and drink.... otherwise they just take your money......

Ken-ST Moderator: right

ms thanks Julie

blk_lbl you might as well go down the street and throw a bag of hundreds at passing cars

blk_lbl same effect.... fun but expensive

Ken-ST Moderator: hehe

djg610 used to go to casinos  now only play poker

James-ST Moderator: couple of poker players here, bob plays a lot, although he is not in

James-ST Moderator: in vegas  djg/

James-ST Moderator: ?

allegrobob ka-BOOM

djg610 no st. louis now

djg610 was san diego and newport before

James-ST Moderator: so is that live poker or online?

blk_lbl wow BOOM out of control

Ken-ST Moderator: you still on BOOM bob?

djg610 more tables in Los angeles thank vegas

djg610 now mostly online

allegrobob been poaching a little here and there

James-ST Moderator: ah cool

blk_lbl can you find games like in "Rounders" out there?

djg610 only tournaments usualyy one table ten mans take an hour roughly if you win

blk_lbl love that movie

johnboy off to bed, everybody have an intoxicated weekend, you only live once........enjoy life

James-ST Moderator: yeah good movie

djg610 no rounders stuff for me not sure    i knew some small private games nothing big or interesting   Larry Flint has a big game at the hustrler in la though

blk_lbl take bcare jb

johnboy ty blk, have a good one

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julie1 l ency

julie1 .80 stp

julie1 bbl

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Ken-ST Moderator: any questions?

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Ken-ST Moderator: gm kvr

Ken-ST Moderator: market in a range

Ken-ST Moderator: since the morning volatility

Ken-ST Moderator: there were a few good opps that came home nicely

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Ken-ST Moderator: if you have met your goals we strongly suggest going into the weekend on a good note

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nyy2 going for a walk cya

Ken-ST Moderator: have a good one

nyy2 ty

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Ken-ST Moderator: Rusell index new lod

rdub Ken would u advise against shorting RMBS @ new lod during lunch?

Cale who's Rusell?

Ken-ST Moderator: yes

Ken-ST Moderator: it may work out

Ken-ST Moderator: but why risk it

rdub .. or perhaps below yesterday's congestion

Ken-ST Moderator: RMBS is trading in the previous days rang

Ken-ST Moderator: support or resistance areas come into play

Ken-ST Moderator: really hard to say where they will step in

Ken-ST Moderator: breakouts during the lunhc period are not to be trusted

Ken-ST Moderator: it is the most unprofitable time of day

Ken-ST Moderator: for traders

Ken-ST Moderator: really, you just need 1 or 2 good trades a day

rdub ok, ok ...

rdub :-)

Ken-ST Moderator: lol

Ken-ST Moderator: sorry, not going off or anything

Ken-ST Moderator: hope you didnt take it that way

Ken-ST Moderator: but want to explain for those who are new

rdub missed everything this a.m., just a little ancy I guess

Ken-ST Moderator: I know you already know this stuff

Cale sure

Ken-ST Moderator: I see

rdub let's paper RMBS sh .67

Ken-ST Moderator: we will be looking for Type C longs soon

Ken-ST Moderator: note the gap up on the market this am

Ken-ST Moderator: right at the 50 day EMA

Ken-ST Moderator: intradya market was overbought

Ken-ST Moderator: setup a nice reversal

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Trevor Anyone paying attention to the BSCNBC report now on RE???

Trevor some very upscale areas of Silicon Valley only have a 1% gain year over year that means the next year over year stats should be down 10-15%

rdub there goes Rambo

Trevor Levitz furniture in NYC area no payments no interest on furniture purchased with their cards for 3 years!!!

bearrally real estate - correction should be at 10% if consumers spending hold

Trevor 20-30% bear over the next 2 or so years...

bearrally if not looking for 25-30% by 08

allegrobob i show the 50 ema on the spx daily at about 1288  Does that match yours?

Trevor Crutchfield electronics catagloue same offer any purchase over 400 bucks for 18 months and they never offer deals

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bearrally can't bankrupt anymore

Trevor I dont know if anyone every hear of Harveys Electronics here in the NYC tristate area...a very very high end store they are matching Crutchfield...and thats unheard of for their level of clientel!!!

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Trevor I am finally buying my HDTV plasmas that I have been holding off on...1 50" 1 42" Panasonic Consumers rated best for quality and price...$5,700 total including delivery for 2 count them 2 HDTV plasmas...dont have to pay for 18 months!!!

jy SOHU new lod

Ken-ST Moderator: nice call Rdub on RMBS

Ken-ST Moderator: market new lod

JP 1080p support Trevor?

Trevor jp resolution?

JP Yes

rdub thanks Ken, it was just a thought

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JP 1080p is max resolution of the new HD formats, HD-DVD and Blu-ray.  If you are planning on supporting either of those formats, you definately want a set that supports 1080p

Ken-ST Moderator: gm bear

Trevor Panasonic TH-42PX60U and Panasonic TH-50PX60U widescreen 16:9 aspect ratio 1366 x 768 pixels 10,000:1 contrast ratio

Trevor JP does this meet those standards?

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blk_lbl dude you gotta go pioneer

blk_lbl nice contrast ration thou on those panys

JP Those Panasonic sets are nice but they don't support 1080p.

JP They will certainly still display great pictures but they won't be able to display HD signals from the upcoming formats at their maximum resolutions.

blk_lbl i got me a 37"  LG lcd about 4 mos ago..... not happy with the black levels.... going 50" pioneer plasma ... that should do the trick

Trevor I was told by a number of people to get the Panasonic models?

JP I love the Pioneer Plasmas!  They have some new Elite series 1080p models coming out in a few months that I'm planning to look into.

blk_lbl read online reviews...... everybody says pioneer

Trevor JP when do those new formats start?

blk_lbl panasonic for black level.... but thats old news

blk_lbl the new pioneers are supposed to be better than anything

blk_lbl are expensive tho

Trevor Pioneer Elites are fabulous but they are 4,500 for the 43" and 5,500 for the 50"!!!

blk_lbl nice call on RMBS by the way

blk_lbl yah spensive

JP HD-DVD is out now, put currently only using 1080i resolution for current titles.  1080p will be supported early next year.  Blu-ray will launch next month and feature 1080p support from the start.

blk_lbl that's what we have ken for thou

JP 1080p will also be supported by the PS3 if you are a gamer.

blk_lbl i'm sure he doesn't mind being our supplier of new TVs

Trevor I cant see myself dropping 10 g's on 2 tv's not pratical!!!

blk_lbl that is a good point trev/pont

blk_lbl but get something you absolutely want

blk_lbl otherwise you will not want it in 4 mos

blk_lbl i got a good deal but not happy now with the lcd black level

Trevor the samsungs are a little cheaper but picture not nearly as good so this is the most i want to spend...

Trevor i cant wait to snake the wires and hang them on the wall

blk_lbl that's what i did

blk_lbl it's fun impressing the neighbors

blk_lbl "but where are the wires?"

Trevor i was going to get a 37" and 42" but the 42" is not nearly as big as I thought so thats why i am going with 42 and 50 plus the deals are so great now i couldnt resist

blk_lbl i thought the 37" was small in store.... when i got it home and hung it on my wall.... it was huge

blk_lbl a 50" on my viewing wall would be the whole damn wall

blk_lbl which is why i want a 50"

Trevor employment numbers less than expected the last two months on top of that the last two month were revised down twice!!!

Trevor thata boy blk

Trevor i will catch up later with you guys...going to lunch

Ken-ST Moderator: market coming off a new lod during lunch

blk_lbl later bro

blk_lbl who called rmbs?

Trevor RE is D-O-N-E!!!

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blk_lbl ok bearrally

Trevor Stick a fork in it...its whats for dinner!!!

moof just got an e-mail from somone to buy my truck from Argentina they will pay extra for me to make a payment to there shipper (7200.00 over my asking) should I do it?

blk_lbl totally

Trevor hell yea moof

blk_lbl you'll totally get that money too

Trevor ask them if they want to buy my SL?

blk_lbl probably the next day

moof right on I thought so

blk_lbl cash will magically appear on your doorstep

Jen must be a reallllllllly nice truck!

david see the cash first

moof I asked for cash in a fedex package

Cale bbl

david thats good

dks13827 moof,, that's a good one..

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blk_lbl its gotta happen in person

moof I'l let you know what happens

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blk_lbl good luck

blk_lbl ken you are so right..... I'm sick and tired of NBC's BS

moof tune in later

Ken-ST Moderator: yup

Ken-ST Moderator: they are totally biased

Ken-ST Moderator: alright gang, looking for Type C long setups

georgie moof, don't do it if they offer you bankers draft, there is a scam out there offering to pay you extra so you will pay cash to shipper for the difference but the bankers draft is false

moof Revlon having a sale today!

rdub don't tell James

blk_lbl it's a total scam.... if i were you moof.... i would run from that action

claudia Ken - PHM type c?

moof I know blk thanks

claudia HOV type c?

blk_lbl i figured you did but am 3 or 4 deep so can't tell

Ken-ST Moderator: PHM no real argument for support on its daily

Ken-ST Moderator: HOV we will pass due to the congestion on daily chart

Ken-ST Moderator: good suggestions Claudia

James-ST Moderator: http://news.yahoo.com/s/ap/three_armed_baby

James-ST Moderator: cute baby

moof when my baby was born 1st thing my wife asked how many fingers and toes...

James-ST Moderator: yep me too

Ken-ST Moderator: wow, that is amazing

Ken-ST Moderator: very cute baby though

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moof thye are going to operate when its over 1 years old to fix it

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blk_lbl dude that's awesome.... imagine what you could do with three arms

blk_lbl he would be the best drummer in the world

Ken-ST Moderator: I was just thinking the same thing

moof I need 3 arms in the morning toget the trades done

david boxer

moof 4 would be better though

Ken-ST Moderator: perhaps its not functional, but if it were it would be awesome

Ken-ST Moderator: moof not as good as 5 though

moof I just did the ryme in my head and isn't the arm connected to the shoulder? 2 shoulders?

moof 3 I maen

moof mean

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moof lunch time

Ken-ST Moderator: Nice rally of the lows made during lunch

Ken-ST Moderator: BAMM on the move

Ken-ST Moderator: [b]Intraday Trend is Sideways to Up[/b]

rdub nice call on BAMM Ken, up 2% from mention

Ken-ST Moderator: its a very thin stock

Ken-ST Moderator: On thin stocks your executions skills have to be good

Ken-ST Moderator: you need to sell out when stock is moving in your favor

Ken-ST Moderator: when the stock has good momentum, throw your order to sell out there on the offer

Ken-ST Moderator: and let the market momentum take it away

Ken-ST Moderator: its like throwing yourself in front of a moving car

Ken-ST Moderator: you will get hit

Ken-ST Moderator: by throwing it out on the offer, you are using the spread to your advantage

gd amazing spread in bamm

Ken-ST Moderator: as stocks get extended use the 1 min 5 ema as your trailing stop

Ken-ST Moderator: not  a real trailing stop

Ken-ST Moderator: but keep your eye on the pullbacks to those levels

Ken-ST Moderator: place stop a penny below the pullback

rdub thanks

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Ken-ST Moderator: any questions?

dks13827 ken, want to comment on your start in the trading business ??  thx

rdub bbl guys

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Ken-ST Moderator: It was back in high school when I traded my first stock

dks13827 interesting

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Ken-ST Moderator: not this type of trading

Ken-ST Moderator: but bought and sold IBM

Ken-ST Moderator: for a gain

dks13827 you bought IBM,, and planned to retire

j5 you're a natural

Ken-ST Moderator: from then on I was hooked

dks13827 ha,, good guess

Ken-ST Moderator: I am a risk taker

Ken-ST Moderator: very passionate about it

dks13827 were you a programmer ?? like myself ??

j5 my guess ken

Ken-ST Moderator: if you have a passion for something you will put a lot of time into it to get better and better

j5 my guess is ken was in finance or accounting?

Ken-ST Moderator: lol j5

david how long ago did you trade ibm

dks13827 ken, i have wanted to do this for  10 years.....  now i have a chance..   a good chance  !!!!

j5 no?

Ken-ST Moderator: i graduated in Accounting and worked at KPMG Peat Marwick

Ken-ST Moderator: I held IBM for a few months

dks13827 phil michelson's  sponsor

j5 oh, ok I might have read that somewhere

j5 on e-mini's page I guess

Ken-ST Moderator: but I used to check the newspaper every day

Ken-ST Moderator: because back then that is how you get the quotes

Ken-ST Moderator: read books on Tehcnical Analysis

Ken-ST Moderator: I went down that road of trying to read Financials,

Ken-ST Moderator: William Oneil's CANSLIM

dks13827 ken    i think michelson's manager should play a good joke on him...     tell him there is a big big bucks offer from new sponsor.. then pull out a hat that   says.....    ARTHUR  ANDERSON

Ken-ST Moderator: lmao

j5 hey ken, how do I read the E-mini's performance? i.e for May you have listed $1,662.50, whats the percentage

dks13827 well you have a good working strategy

Ken-ST Moderator: but found out that Technical Analysis was the way to go

Ken-ST Moderator: j5 the brokerage that I have the account at has a very high margin requirment.  You can trade the same contracts I do with 5k

Ken-ST Moderator: ty dks

dks13827 yw

Ken-ST Moderator: I was mentioning yesterday that the concepts are not complicated at all

j5 ok, I mean what's the percent return. I'm not sure what $1662 means

Ken-ST Moderator: the strategy itself is built upon the most basic fundamentals of technical analysis

j5 fore every $1000?

j5 that can't be

Ken-ST Moderator: 1,600 could have been done on a 5k account.  That is 30%+

Ken-ST Moderator: but the account I am trading started the month about 12k

Ken-ST Moderator: so just over 10%

dks13827 well, bracket orders... this is what  I have needed for years... didnt know they existed until  6 months ago.....    before, swing trading,,   i would hit my target  but be at work...   i was great at turning gains into losses.

Ken-ST Moderator: yes dks awesome

Ken-ST Moderator: you on direct access now?

dks13827 yes   TS  and i like it a lot..    the first  2 weeks are tough though...   that was before i came here

Ken-ST Moderator: very cool

j5 oh, you mean $1600 profit on a $5k account?

j5 dsk, patience, take it slow,

Ken-ST Moderator: yeah

Ken-ST Moderator: I am trading 1 contract lots right now

Ken-ST Moderator: up to 4 max

Ken-ST Moderator: you can do that with a 5k account

j5 wow not bad, however it seems the day trading program has about 34-40% per month average

Ken-ST Moderator: My best advice :  Stocks the first hour.  Futures the rest of the day

Ken-ST Moderator: The money to be made on equities is the first hour

Ken-ST Moderator: after that its Futures all the way

j5 can you trade Eminis using the same cash? or you need separate accounts

Ken-ST Moderator: most are intimidted by the word Futures

Ken-ST Moderator: dont be

Ken-ST Moderator: I only trade the Emini S&P

Ken-ST Moderator: you are just trading 1 market

Ken-ST Moderator: watching 1 chart

Ken-ST Moderator: exactly like trading a stock, but no slippage

Ken-ST Moderator: and cheap executions

Ken-ST Moderator: sometimes you see the market turning up and you try and find a stock to go long on

dks13827 on the s&p ken...  you trade  lows and highs or breakouts or what???

j5 yeah, I read a bit about it, on the website and I think the mercantile exchange, still not sure

Ken-ST Moderator: why bother, just trade the market to profit from it

Ken-ST Moderator: I do  not trade breakouts

Ken-ST Moderator: I have built my own trading strategy just on my experience in wathcing the market

gd boom running again; lunch almost over

j5 ok, I might try your emini chatroom when it comes

Ken-ST Moderator: I have been watching the same market chart of the intraday spx for many years

Ken-ST Moderator: if you look at the performance page you will see that I had two losing months

j5 ken, can you use the same cash for daytrading in the morning then futures? or do you need sperate accoutns?

Ken-ST Moderator: When I first started I had traders in the room wathcing me trade

Ken-ST Moderator: it affected me emotionally and my results were nothing like the psat

Ken-ST Moderator: so in late April I had to temporarily close the room

Ken-ST Moderator: to trade the account

dks13827 so you are range trading the  s  and  p

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dks13827 fibonacci   ??

Ken-ST Moderator: So right now there is no futures room.  I have the account autotraded for those interested.  But as of rihgt now there are not traders in the futures room

Ken-ST Moderator: j5: yes you may at some brokerages

Ken-ST Moderator: SOF direct you can

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Ken-ST Moderator: perhaps TS although not sure

j5 oh, cool I could see that work, day trading then eminis, that would be 50-60% retrun per month (at least ideal efficiency)

j5 what's TS?

Ken-ST Moderator: I use the same indicators on my charts as in this room

Ken-ST Moderator: The time of day is one of the most important factors in my trading

Ken-ST Moderator: I have 1 signal that has been perhaps 90% successful in making a profit

Ken-ST Moderator: although I think it is higher than that

Ken-ST Moderator: the signal comes in a couple times a week

j5 ken, you only daytrade the emini, right?

dks13827 j5    trade station

Ken-ST Moderator: yes,only Day Trade

j5 ok , thanks dks

j5 keep hearing good stuff about TS

j5 at least here, you guys arent TS sales rep? lol

dks13827 i cannot complain....    except that you cant call in evening for help

j5 lol

j5 i hate calling anybody, give me machines

j5 just make sure the website works!!!

dks13827 me,,   i just need 10 minutes help to get started on anything,, then i am set....    and i am a programmer

j5 you mean the learning curve??

Ken-ST Moderator: what  can you program dks?

dks13827 yes,,,   one never knows  ..   how do i just start  ??

j5 sorry got to go, later

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dks13827 IBM    AS400's   for   30 years.. now i am laid off...  so here i am........ what i wanted to do for  10 years   !!!!!!!!!!!!!!!!!!   very happy

Ken-ST Moderator: ah good to hear

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dks13827 but,,,,,,,,,,,   my neck is way out.... you know ??

Ken-ST Moderator: glad you are here

Ken-ST Moderator: gm anna

Ken-ST Moderator: you know, people should always do what they want to do

Ken-ST Moderator: I am a big fan of living in the moment

Ken-ST Moderator: All it takes to be happy......is to be happy

dks13827 it is funny ken,, i had a trial at another room,,,  they only yell out the stocks...    i  didnt know long from short.. really......  (  and i am not that dumb )

Ken-ST Moderator: All it takes to do what you love doing.....is to do what you love doing

Ken-ST Moderator: dks, we structured the room the way traders want to see it

Ken-ST Moderator: prices ahead of time

Ken-ST Moderator: straightforward performance numbers

Ken-ST Moderator: I was really annoyed at how many in this industry run things

dks13827 ha,, i keep trying to get our buddy julie to give us alerts at what she is watching to jump in,, ha

Ken-ST Moderator: many post numbers on maximum gains you could have achieved

Ken-ST Moderator: really that does nothing for traders

dks13827 yes that is  BS

Ken-ST Moderator: who the heck can buy at bottoms and sell at tops

dks13827 i think  julie left, she made so much money today !!

Ken-ST Moderator: way easier to buy at tops and sell at bottoms

dks13827 oh that is easy

Ken-ST Moderator: just ask BLK when he is drinking

dks13827 CSCO,, DELL        etc

annabellab Hi Ken!

James-ST Moderator: Anyone have anything of interest this weekend?

Ken-ST Moderator: no early alerts today gang.  waiting for 1:30

gd boom

Ken-ST Moderator: gm anna

Ken-ST Moderator: BOOM near its 50 day EMA

Ken-ST Moderator: may be a possible resistance area

Ken-ST Moderator: breakouts this time of day also must be viewed cautiously

Ken-ST Moderator: what you up to anna?

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blk_lbl it's good to know i've made my mark....

blk_lbl Ken if you only knew how right you were about asking me when i was drinking...

blk_lbl it would be hilarious if it wasn't true

blk_lbl oh wait... other way around

blk_lbl trying to call TIE's bluff is  not for faint of heart.... or sober of mind

blk_lbl sometimes

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Ken-ST Moderator: wb rdub, Rube

Ken-ST Moderator: lol blk

blk_lbl so when are you guys all coming out to vegas so we can muck it up at the Wynn or something

James-ST Moderator: december hopefully

annabellab Hi! Confirmed back to Brazil in about 2 weeks... so happy to trade in a good time zone full time! Yeah.

James-ST Moderator: how long will you be in brazil?

annabellab Until I get board... :) Just kidding, maybe a year or so... need to build a house there.

James-ST Moderator: nice, but wait, are you from hawaii or brazil?

annabellab From

annabellab From Cali, moved Hawaii 96, moved Brazil 1999, then back and from Hawaii/ Brazil since 2000.

James-ST Moderator: wow

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James-ST Moderator: wb tryhard

James-ST Moderator: Short trading week.....light volume.....this could be a small countertrend bounce.....or, right now it appears so

James-ST Moderator: Note daily of SPX.....we have bounced this week right to the 50 day ema.......

James-ST Moderator: Next week we should see if this bounce has strength or quicly fails at this resistance level

James-ST Moderator: quickly

James-ST Moderator: Questions or comments?

James-ST Moderator: Yell out anything of note

Penfold brb... rebooting by qt software...

James-ST Moderator: k

James-ST Moderator: Market has flatlined.......hugging the 50 ema on the 5 minute chart of the SPX

Penfold well.. I'm in AKAM long for giggles.. so shorting it should be a safe bet :)

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

James-ST Moderator: I dont see a single thing moving

James-ST Moderator: BOOM almost a Type C......it is coming of overbought levels, and some resistance can be found at the 50 day ema........market stochastics are also down

James-ST Moderator: off of

James-ST Moderator: tough trigger, and wide stop, bit risky

Penfold shoulder and head...

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JP Think I'm going to call it a day

JP It's been a great week, see you all on Monday.

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Ken-ST Moderator: take care

Ken-ST Moderator: back

Ken-ST Moderator: any questions?

tryhard have a good weekend folks

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Ken-ST Moderator: ok take care

Penfold Ken, you have a FAQ page for your futures trading?

Ken-ST Moderator: hmm not sure

Ken-ST Moderator: sorry

Ken-ST Moderator: you have  aquestions?

Ken-ST Moderator: quesiton?

david autotrade

spx1280 does anyone have tradestation?

dks13827 yes i have TS

spx1280 do you scan for stocks using certain criteria

dks13827 dont know that,,,  i believe you need   radar

dks13827 which is  additional cost

spx1280 with so many stocks it's almost impossible to scan by yourself, I'm looking for help

dks13827 there are some fair scanners  free on web

dks13827 such as   cbs market watch

spx1280 maybe tradestation or telechart