10/05/05 Chat Session
James-ST Moderator: gm
ally hey guys
renram22 gm all
jose has entered DayTrading Chat
James-ST Moderator: hey jose
jose gm, James, everyone.
Todd-SOF Direct has entered DayTrading Chat
Todd-SOF Direct gm everyone
ak has entered DayTrading Chat
ak gm all
James-ST Moderator: hey ak, todd
ahk has entered DayTrading Chat
James-ST Moderator: largest deficit in US history.....geez i remember we were just running surplus for the first time in decades
James-ST Moderator: hey ahk
ahk sup J
Eric has entered DayTrading Chat
James-ST Moderator: hey eric
ahk thats some list....................looks like a battlefield
Eric GM
James-ST Moderator: what do you mean ahk?
ahk casualties
James-ST Moderator: ah, that wmgi, had a bad drug performance
ahk I feel like I had a bad one too
Eagle has entered DayTrading Chat
James-ST Moderator: hey eagle
char has entered DayTrading Chat
ahk the market is a minefield isn't it?
char gm all
Eagle GM James & all
James-ST Moderator: hey char
James-ST Moderator: lmao ahk
ahk takes guts to hold stocks overnight
ahk wake up in the morning and pof theyre gone
ahk is syke a play...........lite volume.............but dos it qualify
James-ST Moderator: ADDED
James-ST Moderator: TY
ahk thats two you owe me
ahk :)
James-ST Moderator: 2 BEERS
pvg6799 has entered DayTrading Chat
James-ST Moderator: HEY PVG
pvg6799 gm
jy has entered DayTrading Chat
James-ST Moderator: gm jy
jy gm
Alaska has entered DayTrading Chat
James-ST Moderator: hey alask
James-ST Moderator: a
Alaska morning
jy james, it's SYKE not SKYE on left panel.
ahk J do you have the guts to post BIDU?
James-ST Moderator: ty jy
James-ST Moderator: no ahk
ahk thought so
James-ST Moderator: [img id=em-2]
dennis has entered DayTrading Chat
ahk not guts no glory!
James-ST Moderator: hey dennis
dennis gm James
ahk cant borrow it anyway
char tough crowd
James-ST Moderator: yes, still not shortable....gapping to 20 ema
ahk J these stocks are tanking in pre market
James-ST Moderator: hey dennis where has junio been
James-ST Moderator: not NTRI
ahk the ones in red not green
James-ST Moderator: they are Top 10 Movers.....
Njord has entered DayTrading Chat
James-ST Moderator: Tank or Up.....whatever qualifies ahk
James-ST Moderator: hey njord
Njord Gm James, all
kim has entered DayTrading Chat
James-ST Moderator: hey kim
kim gm James
kehsha has entered DayTrading Chat
dennis We're both taking a break from trading for a bit, waiting to see better patterns... he's going to be moving out in a week fr the first time...
James-ST Moderator: hey kehsha
kehsha good morning
Hunter has entered DayTrading Chat
James-ST Moderator: ah ok dennis.....miss discussing movies with him....
James-ST Moderator: hey hunter
James-ST Moderator: empty nest syndrome coming dennis?
Hunter : gm guys
ahk adct death spiral
dennis he'll be back in a week or 2, hopefully
dennis I've got a 3 year old... I'll be picking up soc sec by the time that happens!
James-ST Moderator: lmao dennis
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 9.89[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 9.89[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 9.89[/b]
Alaska James are there any entry points I can set alerts on, or other orienting information for the AM?
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HGSI 9.89[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HGSI 9.89[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]HGSI 9.89[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI HGSI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI HGSI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI HGSI[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]SYKE 14.41[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]SYKE 14.41[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]SYKE 14.41[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTRI 31.21[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTRI 31.21[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]NTRI 31.21[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQI 32.60[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQI 32.60[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQI 32.60[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ADCT 17.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ADCT 17.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]ADCT 17.99[/b]
James-ST Moderator: WMGI CLOSE
James-ST Moderator: ADCT CLOSE
James-ST Moderator: MERQE CLOSE
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WMGI 18.99[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WMGI 18.99[/b]
jy stop WMGI hod ?
James-ST Moderator: yes, will look to tighten
ahk j what are other triggers please?
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]WMGI[/b]
jy GJ - got this one.
James-ST Moderator: nice jy
James-ST Moderator: NTRI, fading the gap, will look for consolidation and short entry
James-ST Moderator: ADCT LOD 17.99
James-ST Moderator: MERQE LOD 32.60
Alaska Too fast for me, I'm going to need a little more time to place these trades. I didn't get in any.
James-ST Moderator: SYKE fading gap....will look for consolidation and short entry
jose James on HGSI didn't get a fill where should I set stop? ty
James-ST Moderator: 10.31 for now jose
James-ST Moderator: NTRI HOD TRIGGER at 31.21
jy james, NTRI short lod 29.89 ?
James-ST Moderator: yes, let's look to enter
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 29.91[/b]
jy ty
James-ST Moderator: Jose, tighten to 10.17
jose ok, I will
James-ST Moderator: ADCT realtively close, LOD trigger 17.99
James-ST Moderator: Market dead flat
James-ST Moderator: Still waiting to see what the market decides after yesterday's profit taking
James-ST Moderator: NTRI HOD trigger 31.21 is valid
Eric I show it at 31.90
James-ST Moderator: Todd, confirm please, HOD for NTRI?
Alaska 31.90 here too
James-ST Moderator: ADCT close
Eric How about WMGI HOD
James-ST Moderator: ok eric, alaska, far away from either.....nm for now.....hopefully todd will figure it out for us
James-ST Moderator: No triggers close at present....Market mulling about at dead even
ahk j what do you show as hod for adct?
James-ST Moderator: 18.61
James-ST Moderator: Jose, HGSI new LOD, you should be profiting no matter your entry
ahk good
jose Cover HGSI 1% ty James
jose :)
James-ST Moderator: gj
James-ST Moderator: NTRI close
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]NTRI 29.91[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]NTRI 29.91[/b]
ally has left the room
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]NTRI 31.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]NTRI 31.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]NTRI 31.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]NTRI 31.01[/b]
James-ST Moderator: HGSI NEW LOD
James-ST Moderator: Market new LOD
James-ST Moderator: MERQE close
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQE 32.60[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]NTRI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]NTRI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]NTRI[/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]NTRI[/b]
James-ST Moderator: Keep same stop if you were not able to exit at full profit
James-ST Moderator: MERQE close
James-ST Moderator: SYKE, we will look for LOD trigger
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQE 32.60[/b]
James-ST Moderator: NTRI NEW LOD, should have profited no matter entry or should be riding out secondary profit
dennis has logged out
James-ST Moderator: Market new LOD
ahk what is stop on merqe if trigger
James-ST Moderator: NTRI new LOD
James-ST Moderator: 32.60
Alaska James, to do Nitri again, are the criteria that it come back up and then go below the lowest point of the day?
ahk no what would the stop be
James-ST Moderator: ahk, we can go with 33.01
ahk ok
James-ST Moderator: alaska....our secondary exit strategies vary.....but ideally you can keep lowering stop to the last 5 minute cancel that close above the 5 ema
Alaska I'm asking about entry criteria
James-ST Moderator: entering again after we have already made our trigger at a new LOD could work out, just identify a new stop
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WMGI 19.76[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WMGI 19.76[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]WMGI 19.76[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ADCT 18.76[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ADCT 18.76[/b]
James-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]ADCT 18.76[/b]
James-ST Moderator: Some long triggers.....may not even trigger.....but a market bounce would help these two
Alaska when you say type B buy? you mean short sell? ?
James-ST Moderator: ADCT trigger either way, it has identified its daily range
Alaska oh, long, ok
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: Despite this current market sell continuation from yesterday, keep in mind the market is still in a range.....
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 32.60[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 32.60[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 32.60[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 33.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 33.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 33.01[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 33.01[/b]
James-ST Moderator: Just like when the market rose a bit the last few weeks, we noted it has not broken any resistance levels to upside
James-ST Moderator: NTRI new LOD
James-ST Moderator: Yell out any stocks of note..........
James-ST Moderator: NTRI new LOD
James-ST Moderator: ADCT relatively close to HOD trigger
jy SNDK buy at new HOD 53.01
James-ST Moderator: NTRI......wow, sub 29
James-ST Moderator: nice follow through from yesterday....does not fit strategies
James-ST Moderator: nice jy
James-ST Moderator: Market bounce here (if) will help you
James-ST Moderator: SYKE relatively close to LOD trigger
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pvg6799 has logged out
James-ST Moderator: HGSI new LOD
jy HGSI, NTRI nice runner.
James-ST Moderator: yes
Alaska James, exit on Merque, 32.28 ?
James-ST Moderator: 32.27 is our profit goal
James-ST Moderator: You know when they add an "E" to your stock symbol something is up......
James-ST Moderator: Market stochastics are up.....still trading below all averages though.......
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.89[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.89[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.89[/b]
James-ST Moderator: If Syke does not trigger for us before lunch, would be nice for consolidation and post lunch trigger
James-ST Moderator: FYI:
James-ST Moderator: Human Genome Sciences' (HGSI:Nasdaq - commentary - research - Cramer's Take) shares were tanking in the premarket session Wednesday after the company reported disappointing clinical trial results from an experimental lupus drug.
James-ST Moderator: Mercury Interactive Corp. (NasdaqNM:MERQE - News) said it expects third-quarter revenue to fall short of its previous target and Wall Street forecasts. (ID:nN04695868)
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MERQE [/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MERQE [/b]
James-ST Moderator: [b]1% PROFIT HIT. Consider taking some profits in[/b] [b]MERQE [/b]
ahk j good day so far
James-ST Moderator: Oct 4 (Reuters) - NutriSystem Inc. (NTRI.O: Quote, Profile, Research) on Tuesday said it expects to report higher revenue for the third quarter ended Sept. 30.
James-ST Moderator: Yeah .......
ahk ntri good co..................I owned it at 6 sold at 12
James-ST Moderator: need to make up for lousy days.....too many triggers that stopped and eventually hit profit the last few days
ahk whip
James-ST Moderator: that is very ncie ahk
ahk it had the hiughest RT of any stock for about 2months
ahk when on AMEX
ahk amex what a POS
James-ST Moderator: MERQE new LOD, sub 32
James-ST Moderator: hehehe ahk
jy james, GJ. another runner MERQE.
ahk takes them 5 minutes to answer the fone
James-ST Moderator: "E" when added to a stock is usually an indication of some kind of probation or suspension for a company.....i believe in MERQ (E)'s case they missed reporting a few times or something
Select a user first
James-ST Moderator: No real triggers are close....but a lot of these gappers are showing nice consolidation.....we may be able to hit a bunch of these later on
James-ST Moderator: in the afternoon
James-ST Moderator: It appears we have definitely been picking up the Top 10 Movers in terms of volume and movement during the day........the past couple of weeks.
Eagle has logged out
ak Where is ADBE going to go HOD or LOD? it is in the middle of today's range.
ak I meant ADCT
James-ST Moderator: No clue at all......a trigger either will let us know......and it should be a good move.....
James-ST Moderator: HGSI new LOD
James-ST Moderator: [b]CANCEL FURTHER TRIGGERS, TURN TIME[/b]
James-ST Moderator: Questions or comments?
James-ST Moderator: Everyone handsome?
James-ST Moderator: Made some coin?
jy james, TY.
char yes indeed thanks
James-ST Moderator: Just here for suggestions and as a sounding board........gj char, jy
James-ST Moderator: HGSi in late March and early April has shown support at this 9 dollar level
Alaska has logged out
ahk j how much time would it take to learn to do what you do assuning an average intelligence
ahk and how would one go about that?
Eric Not sure how I did it, but I didnt make any money today. I am not getting in the trades quick enough
Alaska has entered DayTrading Chat
James-ST Moderator: lmao ahk
James-ST Moderator: hahah
James-ST Moderator: anyways.....
Eric James, the stocks that are under $10, I find it hard to make money because 1% only means 10 cents. I need to work on my routing skills
James-ST Moderator: alaska.....what do you make of that 250 million dollar bridge you guys got going for those 50 people?
Alaska From my perspective, as a newbie, the initial 2-3 trades in the day almost occur simultaneously, too quickly for me to enter orders. I did get one trade in successfully.
James-ST Moderator: ah very true eric.....be selective......HGSI had about a 6% move....should have been able to get something if you allocate capital as opposed to the number of shares.......1% of 10 bucks is the same as 1% of 100 bucks if you allcoate capital equally
James-ST Moderator: yes, true alaska, you may or may not get all trades....all alerts are issued that fit strategies.....just as we are conservative in only reporting 1% gains when we often times see 5% gainers......more or less a wash.....our gains that we report can never be faulted to be inflated......
Alaska the bridge, ah yes, actually there are two. One is almost to nowhere, a very small town wants to be connected to their airport on an island rather than ferry, that one isn't needed, but most of the money is for a bridge to cross Cook Inlet from Anchorage to the landmass across the inlet about a half mile. That bridge is needed because it would save commuters an hour drive and allow Anchorage to expand.
James-ST Moderator: ah.......well, to threst of america a total waste....but quite frankly if that was my local congressman i would be happy he is doing his job.......the money will be great for your economy
James-ST Moderator: the rest
James-ST Moderator: ahk, seriously though.....you have watched the video and understand the strategies completely? when to enter on an extended gap, or when to wait for an opportunity to fade a gap?
Alaska on the type B plays, is the strategy with a gap down opening, to wait until it bounces up, goes back down and hits a new low, and that is where we enter the short position?
Alaska No I can't see paying that amount of money for the video when I subscribe here.
Alaska so I haven't seen it.
James-ST Moderator: ok....let's do brief overview of strategies......except for alaska.....most of you should understand them to some extent.....
James-ST Moderator: TYPE B:
James-ST Moderator: GAPPING STOCKS, IDEALLY OUT OF A RANGE........very good for daytrading because naturally they attract the most volume and have the bigger moves of the day..........
James-ST Moderator: Say a stock gaps up like NTRI today.......
James-ST Moderator: (keep in mind the reverse of this example applies to stocks gappign down)
James-ST Moderator: Upon the initial open up on NTRI.....our first trigger will be to extend the gap (momentum)
James-ST Moderator: We wait for the initial surge and a slight pullback........in this case, NTRI surged to 31.90 and then pulled back......
James-ST Moderator: Now we have first long trigger.......31.91.....
James-ST Moderator: So NTRI is mulling around doing nothing........
James-ST Moderator: ADCT would be a trigger here, FYI
James-ST Moderator: Now we are watching the 5 minute chart of NTRI...........
James-ST Moderator: We usually wait for a touch of the 5 ema on the minute chart on NTRI.......this takes times.......often 30-45 minutes after the open........
James-ST Moderator: often after a stock touches.....actually i would say 90% of the time, we will see a bounce off of it........we would wait for a few more bars on the 5 minute chart.........
James-ST Moderator: Now.......we know the HOD and LOD triggers for NTRI........essentially support and resistance.........a break either way would be NTRI telling us which way it wants?
Alaska thx, what is touching what regarding the 5 day ema?
James-ST Moderator: NTRI [i]DID NOT[/i] touch the 5ema this morning........so is not an ideal example.....but it did consolidate for about 30 minutes after the open.......jy brought this up if you read back on transcript.......a little early, but we could create a tight stop and the risk of entering a short at a new LOD was well worth it
James-ST Moderator: no, the 5 ema on the 5 minute chart......let me see if i can find a better example today alaska
James-ST Moderator: Ah!.........ADCT is perfect example!
James-ST Moderator: ok.......ADCT gapped down......our first trigger will be the LOD.......to extend gap..........after the bounce up we see a new LOD for ADCT would be 17.99.
James-ST Moderator: It mulled around and never triggered........fine, we are not in no big deal.........
James-ST Moderator: Now at 10:00 AM EST it touched the 5ema on the 5 minute chart.....you guys see that?
Alaska The candle stick is centered on the 5 ema at 10 on my chart
James-ST Moderator: actually 10:10 EST would be the first touch /cross of 5 ema.......
Alaska at 9:55 it first touches it on my chart (top of candlestick)
James-ST Moderator: yep
James-ST Moderator: ok so now the first step is coming through.....
Alaska body of candle is above 5 ema at 10:10
James-ST Moderator: Ideally, per video......we want to see 2-3 bars or about 10 -15 mintues of consolidation........
James-ST Moderator: odd alaska.......i have mine below
James-ST Moderator: Whoah gang......market new LOD
James-ST Moderator: ok.......so now we can set a trigger at new HOD........
Alaska my 5 ema is based on close
James-ST Moderator: And as i noted a little while ago.......ADCT would have triggered......(but during lunch we do not enter)
James-ST Moderator: Very simple.....but all we are doing is finding resistance / support for a gapping stock and letting it tell us which it wants to go
James-ST Moderator: [b]Market a New LOD..........[/b]
James-ST Moderator: Ok now for Type A's:
Alaska that was very helpful, thanks.
James-ST Moderator: There are none today........yesterday's sell off created a lot of daily charts that would not allow stocks to fit this strategy........
James-ST Moderator: But......for Type As we are looking into stocks that close to Breaking out to New Territory or Breaking down into new Territory.........this strategy is DEPENDENT on Stocks' Daily Charts.........
James-ST Moderator: are
James-ST Moderator: So at night.......while you guys are having a nice cold one........we scan hundreds of stocks that have a specific stock pattern........
James-ST Moderator: let me check yesterday's Type A's i know we had a ncie one........one sec.......
James-ST Moderator: [b]HGSI new LOD[/b]
Alaska has logged out
James-ST Moderator: ok we will wait until he gets back......
James-ST Moderator: Anyone else with questions or comments........ahk, you got it?
Alaska has entered DayTrading Chat
James-ST Moderator: And that everyone is the secret to making MILLIONS!
James-ST Moderator: We will never repeat that again.
Alaska sorry, got logged out
James-ST Moderator: lmao, just kidding alaska, waiting for you to get back
James-ST Moderator: ok going on with Type A's.......
James-ST Moderator: Pull ESRX daily candlestick chart.........
James-ST Moderator: On 9/30 we have that little candle near its all time highs.......
James-ST Moderator: (this is not ideal, but close to what we look for.........using ESRX for example only)
James-ST Moderator: ok......we look for these tiny range candles that are a stocks highs INTO NEW TERRITORY OR INTO LOWS INTO NEW TERRITORY........
James-ST Moderator: In our experience.......these are often consolidation candles......before another leg up / leg down........
James-ST Moderator: So for a Type A, on October 4, we would set a long trigger at the new all tiem high, in this case......the candle on 9/15, and at 62.48......everyone see that?
James-ST Moderator: Sure enough on 10/4 it would have triggered......and in fact kept going up the following day.....this is essentially the strategy for daily Type A's and SWINGTRADES............
Alaska yes
James-ST Moderator: if on 10/4, there is no trigger .........then fine.......we are not it......often times we set a Type A trigger....and nothing happens....people would be asking not only did it not trigger but it went down......our response is "fine......we set a trigger as a new resistance point to a breakout / breakdown.....it didn't trigger so it should not matter to you....." Type A's triggers are often set at improtant breakpoints......so jumping the gun is not recomended.....stocks may often get close and not even trigger.....thus RESISTANCE
James-ST Moderator: whew.......exhausted from typing.....
Alaska clapping, and thanks
James-ST Moderator: ok, further questions or comments......? keep in mind the example above essentially the bones of the strategy.......
James-ST Moderator: Secondary profit is also another example.........
James-ST Moderator: or soemthing we should discuss........
James-ST Moderator: Ok......so we issue alerts on stocks that fit strategies and you cannot get them all........
James-ST Moderator: That is understood.......we are only here to put the strategies into action......also, keep in mind......our booked profit is very small......a mere 1%.....there are days when you take all our runners and we could be lame and like other sites and book 25% profit.......
James-ST Moderator: (sidenote......totally stupid.......because no one has ever bought at the exact bottom and sold at the exact top)
James-ST Moderator: Anyways.....secondary profit.......
James-ST Moderator: This is totally up to the trader and our suggestion.......at 1% close half your position.....and ride remaining half using a combination or some trailing sotp method......
James-ST Moderator: A good one would be switching to 1 minute chart......and using the 5, 20 or 50 ema (a closing candle aboove one of those levels)........choose one depending on your risk tolerance........
James-ST Moderator: If you like risk and assess a stock to be conitinuning a trend the entire day.......set a stop above the 50 ema .......if you don't like risk or see a stock that consistely rallied to the 20 ema for hours and know that will be resistance use that as your trailing stop........
ahk which ema is advised for the type of trading we're doing here
James-ST Moderator: [b]whoah.....market new LOD.....checking to see if we are breaking recent support levels........[/b]
James-ST Moderator: [b]SET YOUR SPX LOW ALERT TO 1200.....WE BREAK THAT LEVEL.....DEFINITIVE CHANGE IN SIDEWAYS MARKET......[/b]
James-ST Moderator: again ahk.........
Alaska It is at the level you had us set the alert at yesterday for new low
James-ST Moderator: your risk tolerance
ahk if I have high risk, than the 560
ahk oops 50
James-ST Moderator: yep.....broke that level by a point....moving back to 8/30 alaska....looks like market is telling us something
James-ST Moderator: Keep in mind.......as daytraders the daily trend should not concern us much as we start fresh each day and adjust to whatever the market throws at us........
Alaska when you say to set trailing stop at an ema, since the ema falls with the stock over time, are you meaning that you keep going in and resetting the stop?
James-ST Moderator: ahk......again......up to you......and yes if you have high risk than 50 ema.....also your own analysis should be thrown in.....if the stock constantly bounced its head on the 50 ema in the past, then sure.......use it
James-ST Moderator: no.....stay in with frist entry.....
James-ST Moderator: first entry and use trailing stop with a cnadle that CLOSED above the ema in the past......
James-ST Moderator: just a suggestion.....others use actually dollar amounts......i think that guy Bob used 1% stop no matter the stock price......or 25 cents or something like that
James-ST Moderator: just ideas gang.....maybe this afternoon we can find one......and shoot out ideas.......
Select a user first
James-ST Moderator: [b]ok gang......i need to eat lunch.......give me 20 minutes.......feel free toa sk questions......will answer when i get back.......[/b]
kim Very helpfull lunch break James ty
Alaska thanks again, nap time for me
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James-ST Moderator: wow HGSI......
James-ST Moderator: Questions or comments
James-ST Moderator: NTRI as well.....wow, unsustainable gap up
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James-ST Moderator: wb ahk
jy comment - market is on our side today with all the triggers - all four shorts worked out and 3 out of 4 are runners.
ahk ty
James-ST Moderator: yep....sure helps our performance when the market actually does something.....up or down
ahk was ntri another sell signal?
kim ntri
ahk J where is next resistance on ntri?
James-ST Moderator: Not sure ahk.....i would think that if it did actually fill the gap it would be reversal candle on the daily
ahk J what type of music does Bollinger Band play?
James-ST Moderator: [img id=em-6]
ahk do you use them?
ahk ntri looks like it wants to go deeper
James-ST Moderator: nope, only slow stochastics...too many indicators for short term daytrades no needed imo
kim where would your stop be for adct
ahk so what are the ones for us day traders....stoch and what else?
James-ST Moderator: You went long kim? Entry at least.....nice trade
James-ST Moderator: just stochastics ahk.....the most improtant thing is the identification of support resistance levels...whole strategy is based on that.
James-ST Moderator: NTRI new lOD
ahk is that an arbitrary guess or does the stoch tell you?
ahk told ya
kim was able to get 2%
ahk just made a quick 1.5% on ntri
ahk double bite
ahk yummy
ahk no dieting for me
James-ST Moderator: very nice the both of you
James-ST Moderator: handsome
James-ST Moderator: [img id=em-10]
kim We need more days like today
ahk even a blind squirrel can find an acorn J
ahk ntri getting grinded
ahk wow 28.07 low
ahk the madness of crowds as they say
jy CRDN swing trade nice - relative strength
James-ST Moderator: well....kim....we definitely struggle on days the market does nothing.....but i think last week the market did nothing and we had two perfect days.
James-ST Moderator: yep
James-ST Moderator: Market nice bounce here stochastics up......note though, still below 50 ema on 5 minute and slightly above 20 ema on 5 minute .......see if this rally is sustainable.
kim James this is what I like most about you guys your positions all made well over the 1% and you don't go out and take credit for them like most people would.
James-ST Moderator: ty kim
James-ST Moderator: inflated results......no one can attain numbers often reported out there.
kim With just claiming 1% your returns are still very pressive
James-ST Moderator: ty kim
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James-ST Moderator: [img id=em-3]
James-ST Moderator: triggers............soon
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Eric has logged out
James-ST Moderator: wb
pvg6799 thx
James-ST Moderator: Ok.....alaska wake up.....lets look at possible afternoon triggers......
James-ST Moderator: NTRI.....got beat up.....but despite that, it is getting overbought and still below moveing averages.....
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 8.59[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 8.59[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 8.59[/b]
James-ST Moderator: sorry should be HGSI
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 8.59[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 8.59[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]HGSI 8.59[/b]
James-ST Moderator: ADCT made quite a profit from a long trigger noted during lunch......
James-ST Moderator: However...the 50 ema is above it and the stock is Overbought......we will not enter another long trigger
James-ST Moderator: MERQE is smack dab in the middle of the day's range.......will examine if it nears either
James-ST Moderator: NTRI trading below open....nice bounce off of lows.....quite overbought though....far away but we will enter if it gets there.......
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 28.06[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 28.06[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]NTRI 28.06[/b]
ak WMGI LOD?
James-ST Moderator: WMGI we will enter as well
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.79[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.79[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WMGI 18.79[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]SYKE 13.19[/b]
James-ST Moderator: Questions or comments gang?
James-ST Moderator: Stocks of note?
James-ST Moderator: Market appears to have bounced its head on the 50 ema on the 5 minute chart.....stochastics back down
Alaska Ok, I'm back after a short nap. got my 3 short orders in.
James-ST Moderator: [img id=em-3]
James-ST Moderator: not much hapening
James-ST Moderator: happening
jy james, cu tomorrow. I've to go to a meeting. Ty
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James-ST Moderator: ok jy
James-ST Moderator: ANything to discuss? Stocks or otherwise
James-ST Moderator: Market sinking a bit....still off lows.....but that 50 ema on the 5 minute chart really posed resistance
James-ST Moderator: MERQE coming back down
Alaska entry point on merqe to short?
James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQE 31.59[/b]
ahk scalped vlo for .65
ahk on the darkside
James-ST Moderator: hehehe
James-ST Moderator: there is no darkside when you make money
ahk lol
ahk true
ahk no watch it crater
ahk cmon merqe
ahk drop like a stone
ahk vlo lod
James-ST Moderator: zzzzzz
James-ST Moderator: Market is in a contemplative mood.....
James-ST Moderator: Market surging above the 50 ema on the 5 minute chart.....first breka we have seen in some time.....stochastics up
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James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]MERQE 31.59[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 31.59[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 31.59[/b]
James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]MERQE 31.59[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.06[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.06[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.06[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 32.06[/b]
James-ST Moderator: Market back down......stochastics down
James-ST Moderator: So quiet out there.....questions or comments? Anything of note?
ahk adct?
James-ST Moderator: hmmm....
James-ST Moderator: noted earlier resistance to upside noted by candles created 9/5 and 9/6.....
James-ST Moderator: could work out....but market headed down, resistance noted, and the stock itself is overbought
ahk pass
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James-ST Moderator: wb
Eric thanks!
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ahk syke close
James-ST Moderator: ty
James-ST Moderator: Market sliding.........
ahk np
James-ST Moderator: A new LOD
James-ST Moderator: wow
James-ST Moderator: Ok longer term picture.......
James-ST Moderator: CNBC mentioned this.......look like the market is testing a very important level
James-ST Moderator: Actually we are breaking support here.....
ahk namely
James-ST Moderator: [b]CANCEL FURTHER TRIGGERS......[/b]
James-ST Moderator: ahk....
James-ST Moderator: i mentioned earlier to put the SPX alert on Support 1200
James-ST Moderator: [img id=em-6]
ahk i missed that
James-ST Moderator: [img id=em-9]
ahk my puter is slow
James-ST Moderator: Market down near 100....back to back days
ahk bummer................................for longs
James-ST Moderator: yep
ahk remember folks..........................."buy and hold"
Alaska buy and hold proved to be the worst strategy for any kind of trading in a study I read.
ahk hehehe
James-ST Moderator: i agree alaska
James-ST Moderator: Ask everyone who bought before 1998 how their tech portfolio is doing
James-ST Moderator: JDSU, CSCO etc....will never see those prices again
ahk "buy and fold"
James-ST Moderator: [img id=em-5]
ahk rumour has it Bush is going to nominate his daugter for Fed Chairman
Hunter : lmao
ahk or his mom...............he's not sure yet
Alaska :)
James-ST Moderator: Which one? The older one is party girl.....could add some life to the Fed
ahk the one who smokes crack
James-ST Moderator: At least the Fed Decisions would be a little more lively.....
James-ST Moderator: Greenspeak kills me....hypnotic.....i replay at night when i can't sleep
Hunter : time to go, take care everyone
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James-ST Moderator: ok hunter take care
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 31.79[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 31.79[/b]
James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]MERQE 31.79[/b]
ahk The nice lady he nominated for Suprem Court got her law degree from some place on the back of a matchbook......................it was a home course
James-ST Moderator: lol
James-ST Moderator: Market is right at 1200.........any guesses if this holds tomorow?
ahk but she is qualified becuase she's his friend
ahk I feel better now don't you?
James-ST Moderator: [img id=em-4]
ahk I give 2-1 odds she doesn't get approved
Alaska bye for today, way to rock James, all successes so far, I'm sure you can squeeze another nickle or two out of merqe.
James-ST Moderator: Market new LOD
James-ST Moderator: Will try
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James-ST Moderator: Dow -100
ahk "buy on dips"
ahk "average down"
ahk great maxims of every loser
ahk ttg laterz yall
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James-ST Moderator: Ok gang........
James-ST Moderator: Take care everyone........here is to a good day.
jose ty James, gn
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James-ST Moderator: take care jose
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