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The Power of 2% Chat Transcripts


10/14/05 Chat Session

James-ST Moderator: HEY TW, JDUB

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

ahk: WAT

jdub: good mornin

ahk: CAB

Ken-ST Moderator: Happy Friday

ahk: apcs?

Ken-ST Moderator: APCS adding

ahk: why?

Ken-ST Moderator: CAB looks ok if gapping below 16.44

Ken-ST Moderator: because it is gapping out of range

ahk: really..............my monitor is defective

ahk: how bout WAT?\

Ken-ST Moderator: Sure why not

Ken-ST Moderator: since we are scraping the bottom of the barrel anyway with the listed stocks

Ken-ST Moderator: looks good

Ken-ST Moderator: gj

ahk: i show no gap on apcs

Ken-ST Moderator: I show last trade at 15.05

Ken-ST Moderator: 15.05  x  15.25

ahk: lemme chk

ahk: 15.01 x 15.25

jy: gm

Alaska: morning

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

James-ST Moderator: hey alaska, jy

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

James-ST Moderator: hey pvds

James-ST Moderator: pvg

pvg6799: gm

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

James-ST Moderator: jay?

Jay: gm ken

Jay: hey jj

Jay: long time man

James-ST Moderator: wow

James-ST Moderator: yeah

James-ST Moderator: where the heck you been?

James-ST Moderator: pulling up private chat with ya

Ken-ST Moderator: Market Assessment:

Ken-ST Moderator: Daily Chart: below the 5 day EMA, stochastics in downtrend

Ken-ST Moderator: Hourly Chart:  Downtrend with the 20 EMA below the 50 EMA

James-ST Moderator: hey steve

nysteve: gm!

Ken-ST Moderator: 5 min Chart:  uptrend with the 20 EMA above the 50 EMA

Ken-ST Moderator: Futures are up 4.5 points

Ken-ST Moderator: at the top end of p/d range

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

Ken-ST Moderator: Hourly chart suggests a possible countertrend in process

Ken-ST Moderator: LOGI gapping

Ken-ST Moderator: but if I recall correctly the spread is too big on the stock

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

James-ST Moderator: HEY JB

johnboy: good morning Ken, James, Todd and everyone

Ken-ST Moderator: We will not be going long on CELG initially

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

Hunter: : gm guys

James-ST Moderator: hey hunter

Ken-ST Moderator: Market is now open for business

James-ST Moderator: hey eric

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

eric: GM

James-ST Moderator: GOOG......noted last couple of days.....fighting with 300

Ken-ST Moderator: CHIC still in recent range

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 15.86[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 15.86[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 15.86[/b]

James-ST Moderator: S/B 14.86

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 14.86[/b]

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 14.86[/b]

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]APCS 14.86[/b]

Ken-ST Moderator: sorry about that

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]APCS 14.86[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]APCS 14.86[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]APCS 14.86[/b]

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

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

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

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WAT 37.19[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WAT 37.19[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]WAT 37.19[/b]

Ken-ST Moderator: Gang  WAT is near to a support area

Ken-ST Moderator: If triggered the stop will be tight at the HOD

Ken-ST Moderator: as always for the initial

jy: wat - NYSE

Ken-ST Moderator: Yes it is also a NYSE listed, pos stock

Ken-ST Moderator: APCS new lod

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WAT 37.19[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WAT 37.19[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Short[/b] [b]WAT 37.19[/b]

James-ST Moderator: APCS NEW LOD

Alaska: I didn't get in WAT, is there another entry point you suggest?

Ken-ST Moderator: It is still near to the entry

Ken-ST Moderator: right now

Ken-ST Moderator: CELG we will hold off the HOD trigger

Ken-ST Moderator: no issue

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

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

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

nysteve: nice!! got it..ty guys

Ken-ST Moderator: gj ny

Ken-ST Moderator: wtg

James-ST Moderator: nice steve

jy: gj

jdub: cool

Ken-ST Moderator: Recent highs on CHIC is 16.51

nysteve: end of my first week here and i am lovin it...keep up  the great work please!

Ken-ST Moderator: Good to hear that

James-ST Moderator: Market continuing yesterday's late day rally......interesting to see if this holds.

Alaska: wat was falling so fast I never jumped in

stuart: Great job guys. ty.

James-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]INSP 21.49[/b]

James-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]INSP 21.49[/b]

James-ST Moderator: [b]TYPE A Trade (Breakdown). Consider Short[/b] [b]INSP 21.49[/b]

Alaska: insp?

Ken-ST Moderator: Yes

James-ST Moderator: CELG, noted we will not ENTER hod......we will enter LOD.....

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CELG 49.19[/b]

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CELG 49.19[/b]

James-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CELG 49.19[/b]

Ken-ST Moderator: WAT new lod

James-ST Moderator: WAT NEW LOD

ahk: insp?

Ken-ST Moderator: yes

James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 22.01[/b]

James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 22.01[/b]

James-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 22.01[/b]

Ken-ST Moderator: Actually the initial on Type A are 1.5%

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 21.81[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 21.81[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]INSP 21.81[/b]

Ken-ST Moderator: If you want a looser stop, 22.01 is a good level

James-ST Moderator: WAT new LOD

Ken-ST Moderator: Very nice runner in WAT

ahk: whoever came up w/WATT is a sharpie

James-ST Moderator: CHIC.....will not play this first break of HOD.....relatively overbought will look for consolidation

James-ST Moderator: Yes, that guy must be handsome

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

James-ST Moderator: nice find ahk

ally: VPHM?

Ken-ST Moderator: yes, thank you for brining that one up ahk

ahk: I hope all the peeps in the room made sum cash

stuart: Sure did, thanks.

jdub: thank u

ahk: gl stu

ahk: likewise jd

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

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

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

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

James-ST Moderator: hey mtv

mtvaabbe: what up to all

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

James-ST Moderator: APCS has defined its range.....a trigger either way is valid

James-ST Moderator: hey alex

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

Ken-ST Moderator: WAT a new lod

alex: hello all

James-ST Moderator: GOOG losing some steam

James-ST Moderator: Market LOD, testing the 50 ema on the 5 minute chart, stochastics are down.....let's see if the market can use the 50 ema as support, like it used it as resistance to the upside the previous 8 trading sessions.

Ken-ST Moderator: wb

mtvaabbe: celg your thoughts on it

jy: INSP 80K volume so far 10 day average is 494K.

mtvaabbe: was that a short play

Ken-ST Moderator: yes

mtvaabbe: were is the cover on that

Ken-ST Moderator: 1% so 48.70

jy: stop on CELG ?

Ken-ST Moderator: wb som

som: hi again

Ken-ST Moderator: hod currently jy

mtvaabbe: thanks

Ken-ST Moderator: give it some room

Ken-ST Moderator: we have the round number 50 and its MAs up in that area

Alaska: Are the triggers on INSP, CMVT and CELG still live?

Ken-ST Moderator: We are in INSP and CELG

Alaska: oops

Ken-ST Moderator: CMVT yes it is still valid if it gets down there

Alaska: I be slow

Ken-ST Moderator: lol

Ken-ST Moderator: np its Friday

Ken-ST Moderator: It has been a long week

johnboy: don't sweat it alaska, me too, must be our "latitude"

Alaska: newbie here

mtvaabbe: is this a cover on cmvt

Ken-ST Moderator: cover?

Ken-ST Moderator: We are not short on the stock yet

mtvaabbe: sorry rong stock

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CAB 15.87[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CAB 15.87[/b]

Ken-ST Moderator: [b]Watching for Type B Short at new low of the day on[/b] [b]CAB 15.87[/b]

mtvaabbe: celg

Ken-ST Moderator: [b]5 Minute EMA Trend[/b] [b]DOWN[/b] [b]Stochastics Trend[/b] [b]DOWN[/b]

Alaska: does it matter if there are 16 days worth of shorts already out there on cabellas?

James-ST Moderator: Not really, especially if there is a 17th day

James-ST Moderator: CELF and INSP same stop, we have the wind in our backs, market new LOD

jy: DOW in red

James-ST Moderator: GELG

James-ST Moderator: CELG

jy: CELG stop hod 50.07 and INSP stop is 21.81 ?

James-ST Moderator: yes

jy: ty

mtvaabbe: celg stop @70 or give it room

James-ST Moderator: Stop for us is 50.07

Ken-ST Moderator: We will give it some room for now

James-ST Moderator: Market trading below 50 ema on 5 minute Chart, stochastics are down, Market new LOD

jy: CELG might have broken the down trend ?

Ken-ST Moderator: We are looking at the resistance levels near the HOD

Ken-ST Moderator: we would like the stock to have plummeted from our entry, but it appears its is sideways right now (under resistance)

Ken-ST Moderator: We will play a loose stop here as we have markets in our favor

mtvaabbe: oh the pain on the game

Ken-ST Moderator: lol

mtvaabbe: mark st?

ahk: cab valid hod?

Ken-ST Moderator: We will hold off on CAB hod

Ken-ST Moderator: back into congestion

ahk: ok

ahk: give it some nasa; spray

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

mtvaabbe: celg?

Ken-ST Moderator: Nasonex?

Alaska: CAB HOD? thought it was a short, is it both long and short?

ahk: Afrin

ahk: it is L S and M

Ken-ST Moderator: No long on CAB

James-ST Moderator: GOOG still sliding to new LOD

Alaska: what is the thinking then when saying "we will hold off on CAB hod?"

Ken-ST Moderator: We don't want to buy a breakout trading into congestion

jy: :40AM 50 Day-Alert -- Celgene vacillating near session high and 50 day ema at 50.03, its 50 day sma is at 50.50 (CELG) 49.72 +2.11: -Technical-

Ken-ST Moderator: ty jy

jy: from yahoo finance

jy: CELG just touched 50.06

mtvaabbe: celg

Ken-ST Moderator: 50.07 is the stop

jy: yep

jy: the market moving back up

Ken-ST Moderator: Market back above the 5 ema

mtvaabbe: flirted 2 time what do you think???how many are in it

James-ST Moderator: Who the heck is this new James Bond guy?

Ken-ST Moderator: I can't picture that guy as the new guy

ally: me either....if you want a girl opinion, i don't think he's very cute...lol

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

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

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

Alaska: bummer

ahk: now its a buy

ahk: Jay r u ok?

Ken-ST Moderator: Lets watch for possible entry.

mtvaabbe: well that bites

ahk: sucks too

ahk: lol

jdub: ouch, better luck next time

nysteve: got some ground to make up here

Ken-ST Moderator: Many more opportunities

ahk: yes indeed

jy: celg hurts

ahk: Ken who do you like in the third race at Belmont?

James-ST Moderator: My dog is gonna get punted if that was the top for celg

Ken-ST Moderator: No clue

Ken-ST Moderator: GM Eagle

Eagle: GM

ahk: J the top was 50.25

Ken-ST Moderator: [b]5 Minute EMA Trend[/b] [b]UP[/b] [b]Stochastics Trend[/b] [b]UP[/b]

jy: the market sudden surge hurt us

Alaska: stop 21.81 on insp?

Ken-ST Moderator: There is possible resistance above on CELG

jy: yes.

Alaska: thx

mtvaabbe: have a great wkend /////all

Ken-ST Moderator: a buy at a new hod is possible if we can minimize our risk with a very tight stop

Ken-ST Moderator: I prefer not to risk it

Ken-ST Moderator: not when the market is in an overall downtrend

Ken-ST Moderator: 49.62 is a stop if you are adventurous

ahk: cab hod

ahk: pos

Alaska: CAB- must be shorts covering causing the rise?  There were 16 days worth of shorts out there as I mentioned.

ahk: wow thats bullish

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: [b]Watching for Type B Buy at new high of the day on[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: Its close gang

Ken-ST Moderator: Market currently trading sideways above the uptrending 20 ema

Ken-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]APCS 15.13[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]APCS 15.13[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]APCS 15.13[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]APCS 15.13[/b]

James-ST Moderator: [b]TYPE B Trade (Gap). Consider Buy[/b] [b]APCS 15.13[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]APCS 14.77[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]APCS 14.77[/b]

Ken-ST Moderator: [b]UPDATE: Moving stop on[/b] [b]APCS 14.77[/b]

Ken-ST Moderator: Stochastics in uptrend

Ken-ST Moderator: market flat

Ken-ST Moderator: wb

jy: CELG POS back doen to 49.68

Ken-ST Moderator: Does anyone out there trade a constant amount of shares?

jdub: 500 to 1000

ahk: I trade a constant % of equity

nysteve: me too

som: Yes Ken as I am novice 100

Ken-ST Moderator: Ok

Alaska: I am trying to trade a constant dollar amount, only risking 2% of portfolio value (stop out loss), so I did up a spreadsheet to help me figure out how many shares I want to buy.

Ken-ST Moderator: We suggest traders trade a constant amount of capital rather than shares

ahk: yup

Ken-ST Moderator: Nice Alaska, akh, that is the right idea

ahk: 1% for me

ahk: that about $10/trade

ahk: lol

ahk: seriously, I wont RISK more than 1% inspite of the stops

Ken-ST Moderator: Many traders jump in there with a round number of shares

Alaska: I do round to nearest 100 shares in the spreadsheet.  would share it with anyone that wants it.

som: Do'nt u get faster execution with round lots?

Ken-ST Moderator: I doesn't matter

johnboy: nice alaska, I do something similar, but on the fly, ah, math nerd perhaps, but Napolean Dynamite is cool......right?

Alaska: ND?

johnboy: hehe, ask your kids, teen comedy movie from a couple of years ago

Ken-ST Moderator: The problem with a fixed number of shares is that inherently puts more risk on the higher price stocks.

jdub: how

jdub: ?

ally: napoleon dynamite is cool johnboy  :0)

johnboy: thanks ally, lol

James-ST Moderator: I like it

ally: lol

James-ST Moderator: ally, did you see the Spelling Bee on ESPN, where that kid did a Napoleon Dynamite imitation while he was on the Microphone on National TV?

James-ST Moderator: Kid had huge balls

ally: no..was he good?

ally: that did not sound right james...lol

James-ST Moderator: very......the judges were like, "Excuse me?"  and some giggles in the audience

johnboy: lmao, did you notice that most of the good spellers are home schooled?..............kahunas is the better choice of words James

James-ST Moderator: He even rolled his eyes like Napleon.......

James-ST Moderator: lol jb

ally: lol

Ken-ST Moderator: Sorry, had to step away for a bit

Ken-ST Moderator: Setting a constant dollar amount per trade will place nearly the same amount of risk per each trade

ally: that actor is in a newer movie with reese witherspoon...you'd never guess it was the same guy

James-ST Moderator: Looks like the 50 ema on the 5 minute chart has provided support for the market, just like it provided resistance the last few trading days, stochastics up.

Ken-ST Moderator: thereafter you can fine tune it depending on the initial stops

Ken-ST Moderator: Market near the HOD

ahk: anyone watch Cramer's Mad Money?

James-ST Moderator: yes, i saw it ally, Almost Heaven......or something like that......he is a mormon too ally

jdub: due to volatility?

ally: once in a while ahk...but his personality drives me nuts....makes it hard to watch

Ken-ST Moderator: Yes jdub

Ken-ST Moderator: More volatile stocks will have wider stops

ahk: guy is a fraud inmo

johnboy: I'd like to see Cramer get punk'd

James-ST Moderator: Can't stand his show ahk.....how can you trust a guy who bankrupted a billion dollar hedge fund?  and had one the worst performances the last 5 years?

ally: lol jb...good idea

Ken-ST Moderator: and you could perhpaps reduce your risk with less capital

James-ST Moderator: Market rocketing to new HOD

ahk: he is simply a taut promoter

Alaska: Ken, is that the 5 min chart that you are referring to on S&P support?

johnboy: maybe refco could hire him as their new CEO

James-ST Moderator: lol jb

ahk: ROAR

ally: yeah james...i knew that ...filmed in idaho

Ken-ST Moderator: Yes

Ken-ST Moderator: 5 min chart played out perfectly

Ken-ST Moderator: not sure if you all noticed

Ken-ST Moderator: but the 5 min EMAs crossed over late yesterday

ally: see james, we're everywhere...lol

Ken-ST Moderator: today we consolidated above it the entire monring

Ken-ST Moderator: and have just moved to higher levels

Alaska: insp and apcs moving against us

James-ST Moderator: yes

jy: ken/james,  I did short LRCX yesterday near closing at 33.99 just covered at 33.44.

James-ST Moderator: nice jy

Ken-ST Moderator: Do not use the 5 min market as a predicting tool,

jy: it's too overbought. set tight stop

Ken-ST Moderator: but rather something to tell you what is happening right now

Ken-ST Moderator: The trend did change with the crossover

Ken-ST Moderator: the environment changed

Ken-ST Moderator: from previous

Ken-ST Moderator: I had to bring up the point about about the capital because it seemed like a lot of people were hurt by CELG

ahk: I lost 1%

Ken-ST Moderator: its a higher priced stock and was wondering if some played it by shares

jdub: word!

ahk: that is my top regardless of your stops

ahk: counterintuitive to risk more than 1% to make 1%

Ken-ST Moderator: but every stock is different

ahk: but money is constant

Ken-ST Moderator: You are looking to take a minimum of 1% on the trade

Ken-ST Moderator: we merely show the effects of taking conservative gains

ahk: you guys have a 1% model

Ken-ST Moderator: Yes

ahk: well I like that, but won't accept > 1% drawdown

Ken-ST Moderator: thats cool

ahk: I let the winners run a bit after taking off some'

Ken-ST Moderator: there is no right or wrong in this case

Ken-ST Moderator: every trader has their own tolerance for risk

ahk: 50% @ 1%, 25% @1/2%, and 1/2% for the balance

Ken-ST Moderator: There is a fine line between being too tight and being too loose

Alaska: on a volatile stock, you may get stopped out unnecessarily with a rigid stop.  You can still limit the total risk to 1% by buying less shares when a larger stop is indicated.

Ken-ST Moderator: Exactly Alaska

Ken-ST Moderator: you have nailed it

ally: that's what i do alaska...helps a lot

Ken-ST Moderator: Great, good to hear you folks doing that

Ken-ST Moderator: It comes easier and more natural with time

Ken-ST Moderator: But you should be able to determine that on the fly.

Alaska: ahk, do you do your scaling out for profit manually, or a template, or hot keys?

James-ST Moderator: I like that guy......"Grandma is going to be calling everyday"

Ken-ST Moderator: I like that commercial

ahk: Al I prprgram the entire trade after I'm filled.

Ken-ST Moderator: The Brown and Company ones are good

ahk: If my bids and offers get take, great

Ken-ST Moderator: How do you calculate margin rates?

johnboy: ahk, your 25% at 0.5%---did you mean 1.5%?

ahk: I like your idea of taking less risk with a volitile stock AL

ahk: I am going to try that

ahk: seems like the low price issues can swing big

Ken-ST Moderator: Stops are the most important part of the trade plan

ahk: and alcohol

jdub: haha

Ken-ST Moderator: It can make or break a successful trading strategy

Ken-ST Moderator: Check out our Video on stops.

ahk: Is refco going out of biz?

Ken-ST Moderator: Assessing Market Trends to Maximize Profits

Ken-ST Moderator: That will help you to determine stop levels

Ken-ST Moderator: REFCO is huge

Ken-ST Moderator: I cant imagine them going out of biz

ahk: Greenspan will bail out

ahk: cab made the 1% and then some

Alaska: ahk, so you program you scaling out for profit in incremental profit steps at the time you get your entry order filled? Do you have it set to confirm each increment, or just do it automatically?

ahk: DAMN

ahk: I have to set it up

ahk: takes seconds

ahk: no big deal

Ken-ST Moderator: You can set it up with a spreadsheet

ahk: I use an abacus

Ken-ST Moderator: even better

ahk: AL, I like the idea of NOT having to out guess the market

ahk: I place my orders and hope for the best

Ken-ST Moderator: Set it and forget it

ahk: no second guessing

ahk: discipline

ahk: I tried discretionary methods and got wacked

Alaska: But, some of these trades seem to go to the 1% profit and then reverse, never going to a point of larger profit.................

ahk: true

ahk: then I get stopped at entry

ahk: on the balance

Alaska: would be interesting to do statistics on the data from all these trades, and what if you scaled out on all trades.

ahk: Good idea for the Moderators

ally: dennis had done a bunch of stat work on that kind of thing...is he still around?

ahk: I take 50% off the table at 1%

Alaska: ahk, so you edit your stop once you hit 1% profit to a break even point?

ahk: after that I cant get hurt

ahk: yep and the raise it if the stock takes out another 1/2% raise

ally: even had stats on PDT's success rates during the first 5 min, etc...if i rememeber right

ahk: AL, the average successful trader is lucky to get 1/2% total

Ken-ST Moderator: Thats good ahk

Ken-ST Moderator: simple

ahk: damn good

Ken-ST Moderator: and thats what you want

Ken-ST Moderator: you want to keep things as simple as possible

ahk: this is a tough biz and you got have have a no brainer system and stick to it inmo

ahk: anyways.........................................

ahk: back to Jack Daniels

Ken-ST Moderator: lmao

ahk: listed on the NYSE JD

Ken-ST Moderator: No type c setups right now

ahk: apcs looks like its struggling here

Alaska: ahk, what trading platform allows you to program that scaling out all at once?

ahk: Interactive Brokers

Alaska: cybertrader can't do that I don't think.

ahk: IB has great commission rates................kind of a no frills servcie..................no fancy charts and video game displays

johnboy: can you trade margarine?

ahk: 4x1 during the day

johnboy: just kidding ahk, I guess you had to have seen the commercial.......

Ken-ST Moderator: lol jb

ahk: I was going to say "No, but you can trade butta"

ahk: I am looking for a 10x1 gig

ahk: anyone have one?

Ken-ST Moderator: Maybe soon

ahk: AL, IB has poor service, so if that is important to you, don't ues them

jy: guys cu monday. i ahve to go to NYC for the week-end. ty not a good day due to CELG. hope for a better monday. ty

ahk: bi

johnboy: ahk Houston to win the SuperBowl is probably 50:1........lol

ahk: insp strongweak

Ken-ST Moderator: ok jy

ahk: football?

johnboy: yep

ahk: OK take  my bet for $1000........we'll settle up after the gme

johnboy: lol, ahk...........I know a guy that would take that bet

ahk: but he wont be able to collect.........................hehe

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

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

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

Alaska: stopped out on insp

ahk: yep

johnboy: oh well, off to walk the dogs, see you all in the p.m.

ahk: 21.70 for me

ally: i gotta run too....kids getting out of school early today....see ya guys

ahk: and I gotta take a bath

ahk: and a SH_T

Alaska: thought we just got our bath

ahk: LOL

ahk: good one

ahk: that was a shower

Alaska: at least the market is behind us on the long position

Welcome to SwingTrades.com!

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Room is moderated

You can now talk

James-ST Moderator has become a moderator

jdub has become a trader

Alaska should we keep the entry orders on cmvt and cab?

James-ST Moderator: CMVT yes

James-ST Moderator: but cab no......no Type B triggers during lunc on wallstreet

jdub ty ken & james,have a nice weekend stuart, trdr45, ayala, violet, kim , tw, ak , alaska, pvg6799, johnboy, hunter, eric , som, eagle, and alex.

James-ST Moderator: ok ddub take care man, drink lots of liquids

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James-ST Moderator: hey rabit

James-ST Moderator: new here?

brabit hi

brabit yes new

brabit nice CNBC ad

brabit is that you on the swing? :)

James-ST Moderator: nah, i am better looking

brabit what stocks are in play

James-ST Moderator: we are in lunch now.......so no triggers right now.....

brabit ok

James-ST Moderator: If you have read past transcripts or such, you may have an idea how we work.....

James-ST Moderator: If not please observe us for a couple of days and feel free to ask questions

brabit i need a new broker, a broker who can execute fast

brabit who do you recommend?

James-ST Moderator: We use and recomend SOF Direct.....

James-ST Moderator: We have a representative here......that guy Todd.

brabit what is the website

James-ST Moderator: He can give you a free demo to practice trading on

brabit great

brabit what is the website

James-ST Moderator: sofdirect.com

brabit thanks

brabit i will call them now

James-ST Moderator: todd.....can you give brabit more info?

brabit let you know how it goes

James-ST Moderator: you should talk to todd here....he is useless anyway.....make him do something

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

brabit i also need to learn how to read charts what should i do, do you have classes or videos or seminars

James-ST Moderator: hmmm......hopfefully you have some basic understanding of charting?  candlesticks?

James-ST Moderator: We have online videos available describing our strategies, but some basic understanidng of charting is required.

Ken-ST Moderator: We have three videos

brabit can you point me to the link please

James-ST Moderator: on website......click on videos

brabit i'm not a great surfer

brabit i don't have big waves in NY

James-ST Moderator: one sec

brabit ok

Todd-SOF Direct Hey Brabit , I will engage you in a private chat

brabit sorry to be a pain

brabit but i'm ready to learn

James-ST Moderator: np

brabit thanks

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James-ST Moderator: wb ahk

ahk suppy?

brabit i guess i can't click this link

ahk James

James-ST Moderator: type it brabit

brabit scary picture

ahk Isnt it true that a gap up is more likely to make a new HOD than breal to a new LOD and vice versa for stocks that gap down?

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James-ST Moderator: no, never true ahk

ahk have you researched it?

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James-ST Moderator: First tendency ahk, yes, is to extend the gap.....but chance of failure is equal

brabit Ken looks just like me, scary

James-ST Moderator: hahahhaha

ahk is tht what the stats show?

brabit i'm a bit better looking

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James-ST Moderator: that is not saying much brabit

Ken-ST Moderator: lol

brabit i know

James-ST Moderator: ahk, yes......we fade gaps just as much, you can go back last couple of years and count them

ahk when you say fade, meaning the other way?

James-ST Moderator: yes

ahk You buy new highs and sell noew lows, wheres the fade?

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

James-ST Moderator: ken take over

ahk you dont bet against the trend..................wheres the fade?

brabit Ken you want me picture to put on the site instead of your !!!\

brabit joke

brabit Give me a good trade Ken

brabit i need to make some cash today, want to have a good weekned

ahk James...................................................answer...........please

Kicking brabit ...

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ahk explain your "fade"

Ken-ST Moderator: ahk what is your question?

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ahk scroll back

Ken-ST Moderator: You are asking if we fade trends?

Ken-ST Moderator: Type C is all about fading a trend

ahk You dont

ahk ok

Ken-ST Moderator: ahk we don't what?

ahk ok type c

James-ST Moderator: ken he is actually referring to initial gap plays

ahk the lunch play

Ken-ST Moderator: Initial gap plays yes we do fade

Ken-ST Moderator: APCS is a fade play

ahk nope

Ken-ST Moderator: CELG was a fade play

ahk when the stock makes LOD and you follow it that is not a fadte to me

ahk buying it wade be a fade

ahk you buy new highs and sell new lows right?

Ken-ST Moderator: yes

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Ken-ST Moderator: you fade a gap down buy buying

ahk that is not a fade imo

ahk but you dont buy a gap down unless it makes a lower low

Ken-ST Moderator: we buy breakouts

Ken-ST Moderator: that is a sure fire way to have the stock tell you where it is headed

Ken-ST Moderator: instead of the other way around

ahk right, you don't fade them

Ken-ST Moderator: on TYPE C plays

ahk only type c

Ken-ST Moderator: we wait for the trend to break first

Ken-ST Moderator: and we buy the breakout of the bottoming formation

ahk what is the success rate of type C

Ken-ST Moderator: I guess the miscommunication here is what you term a fading a trend

Ken-ST Moderator: it is also relative to the time frame

ahk I understand your definition

Ken-ST Moderator: You are fading one trend while riding another

Ken-ST Moderator: success rate on Type Cs are just under 70%

ahk and TYPE A

Ken-ST Moderator: Type A and B are close to 75%

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Ken-ST Moderator: wb

ahk would it make sense to lower the profit goal when you are taking the opposite side of the gap.  For instance CELG would have hit profit at 1/2 % rather than a loss.

James-ST Moderator: Market relatively steep decline..trading under 50 ema, stochastics are down

James-ST Moderator: Actualy, right at 50 ema.....lets see if we find support here.

ahk Look at NURO. why wasn't that a possible type A?

James-ST Moderator: Setup is there.....but the trigger would have been far

ahk where would the trigger be?

James-ST Moderator: Triigger would have been 33.01

Alaska how is that determined again?

James-ST Moderator: previous high couple days ago, but then again, it was not really a Type A

Alaska ok, thx

Alaska apcs nearing stop, bummer

ahk It was new highs , why not a type A.....what are the qualifiers?

Alaska it was out of range wasn't it...

ahk Would be nice to have a detailed explanation on the site of the the Types of setups

Ken-ST Moderator: The videos covers all of that

ahk AL are king crabs in season now?

ahk the video isn't free

ahk Also would be helpful to prospective customers to know about the setups....its a bit esoteric

Alaska They changed the crab season to stretch it out so everyone wasn't trying to get them in a 3 day period and sinking their boats

ahk I love those crabs

James-ST Moderator: me too, i love alaska period, but living there is another sotry

James-ST Moderator: story

Alaska there is a new season Oct 15, tomorrow. but you can only get them cooked/frozen anyway unless you are at the dock

Alaska We just had a huge red crab dinner, one leg had about 1/3 pound of meat in it

Alaska $10 a pound up here

ahk cheap

Alaska I kind of agree on the education component, seems kind of steep for those videos.  Would be nice to have a printable summary of the criteria for the types for paid members, even if just a concise summary of the criteria and strategy without the detailed explanation.

James-ST Moderator: Appears market has found support off of the 50 ema, stochastics up.......

ahk AL I couldnt have said it better myself, TY

ahk perhaps management will take it under advisement

James-ST Moderator: Let's look at afternoon triggers.....almost out of turn time:

ahk dreary rainy day in NY

James-ST Moderator: CHIC all time highs...quite overbought......

James-ST Moderator: APCS will examine if it gets near LOD

Alaska Has anyone looked at success of short type Bs to see if trades in an issue that has a large short interest tend to be less successful?  I see CELG has 14.4 days short interest.  Just thinking that when a stock gaps down it is an opportunity for the large short interest position holders to cover, causing and "unexpected" recovery in price.

ahk Al I havent done that and wont

Ken-ST Moderator: Keep things as simple as possible

ahk LOL

Ken-ST Moderator: don't over analyze

Ken-ST Moderator: You may

Ken-ST Moderator: I wouldnt suggest

ahk in other words..............don't waste your time

Ken-ST Moderator: I would say, keep things simple

ahk diplomatic

Ken-ST Moderator: its the best way to achieve consistent reliable results

Alaska ok

ahk Ken will you consider AL previous request

Ken-ST Moderator: what was his previous request?

ahk explanation of the type setups

Ken-ST Moderator: That is what the videos are for

ahk for paying customers

Ken-ST Moderator: We put the strategies into action here

ahk scroll up and read his comment

Ken-ST Moderator: The videos are detailed information on our strategies

Ken-ST Moderator: There are the recipe for success

Ken-ST Moderator: They

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Ken-ST Moderator: Here is where we put them into actioin

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Ken-ST Moderator: action.  Complete the process

Ken-ST Moderator: and as I say that

Ken-ST Moderator Update!

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

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

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

ahk So you don't think people who join the room but dont buy the videos are entilted to know what the startegies are?

ahk or at least the rudimentary logic?

Ken-ST Moderator: You can trade here without knowing a single thing about the strategies

ahk ty

Ken-ST Moderator: we post things way in advance

ahk your missing the point K

Ken-ST Moderator: What point am I missing?

Ken-ST Moderator: Ill read your post when I return

Ken-ST Moderator: brb

Alaska Actually you guys explain if asked for the most part.  This is good education.   Sure would be nice if the videos were ALOT cheaper for members though.   Understand the need to protect strategy from dissemination around the internet for free.

James-ST Moderator: yes true

ahk Room subscribers are not lemmings although they could be.  And this room should not be a gambling casino.  To get a summary explanation of the strategy is not unreasonable as a member of the service--not to replace the video, but to at least help us

Alaska The one day I can finally trade (just got acct funded) and it's not a good day!  bummer.

James-ST Moderator: i think i spent a ton of time the other day going through the strategies when ken was gone.....ahk, please refer to past transcript for that day

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ahk Also--consider this a marketing tip--you proudly post your performance for the world to see and yet give no explanation of what those TYPES of trades are.  Here's a computer and, oh by the way, you have to buy the instrcution if you want to use it.

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

ahk anyway.............................I'm dropping the subject

ahk sorry James

Alaska the education last week didn't go unnoticed. thx James.

Hunter : man I'm feelin for your dog today James, lmao

James-ST Moderator: np ahk

James-ST Moderator: i am an employee here, i am sure when the owners read the transcript at the end of the day consideration will be given.

ahk who are the owners?

James-ST Moderator: ken has shares, i have small amount of shares....and the rich guys have all the darn shares.

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

ahk whatever, Ken got the message, the balls in his court

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James-ST Moderator: hey steve wb

Alaska ANYWAY, hope we can find a few more profitable trades here today....

nysteve hey there!

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Alaska Lucky for me I'm so slow still, I'm only down 1/3 of a percent of the money I invested this morning.

James-ST Moderator: [img id=em-3]

James-ST Moderator: Market still above 50 ema, stochastics are up.....

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James-ST Moderator: Market relativley flat last couple of hours

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ahk J wh created this trading system?

ahk who

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James-ST Moderator: cars and ken, and some other guys

ahk I cant understand why they simply wouldnt trade it themselves rather than go through the aggrevation of making it a business

Alaska that is what everyone always asks me when I tell them I pay to get trading advice from the various places I subscribe too!

James-ST Moderator: Sharing info amongst the room is nice too

ahk If the performance is to be believed, one could make a decent living trading this way

Alaska I have to say this is the only place I subscribe to that minimizes it's performance, most places use the maximum potential profit you COULD have made to calculate their performance.

ahk However, if the system became popular, it would lose its effectiveness

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ahk better to have a small group

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ahk These other trading rooms that I have free trialed all suck

Alaska James, if CAB's 5 day ema crosses above the 20 day in 1 minute chart, would that be a good long entry?  it seems to be about to trend up for a short while again, volume just spiked on last rise.

Alaska oops, I was looking at daily.

Alaska disregard

ahk gotta reboot

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James-ST Moderator: Market in a right range......still above the 50 ema.......

James-ST Moderator: Anyone with great plans for the weekend?

Ken-ST Moderator: Back

nysteve from what i've seen here this week, if one is a true day trader, quick with the hot keys, pays attention, one can actually hit all the calls the guys make here on the money, and realize the posted gains, but again, you have to be quick and pay attention.

James-ST Moderator: takes time.....and we will never claim to be perfect......(see today)......but we are consistent and never inflate numbers......the info here and assistance is of some value imo.....

James-ST Moderator: ty steve

Alaska for sure

nysteve np

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James-ST Moderator: Monday will be interesting.....we have been seeing a lot of market action since the start of this month

James-ST Moderator: Either, everyone is going to be home this weekend and looking at their stocks and saying "Wow, i need to get out"  or everyone will look and say, "Wow, buying opportunity"

James-ST Moderator: Lot of bellweathers report next week.....

James-ST Moderator: as well, including YHOO on Tuesday.

James-ST Moderator: MMM Tuesday

James-ST Moderator: INTC

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James-ST Moderator: EBAY, JNPR, Wednesday

Ken-ST Moderator: Reading back up on the chats

Ken-ST Moderator: ahk all I can say is that if you are not happy, we are not forcing you to stay here

Ken-ST Moderator: I don't appreciate the fact on you coming down on this company at all

James-ST Moderator: ahk isnt here

James-ST Moderator: lol

James-ST Moderator: *breathe*

Ken-ST Moderator: imo opinion we run the most honest company in the industry

Ken-ST Moderator: We don't hold anything a secret

Ken-ST Moderator: we welcome any and all questions

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Ken-ST Moderator: We wont hold back any information on our stategies

Ken-ST Moderator: We don't

Ken-ST Moderator: i am in the service industry.

Ken-ST Moderator: Im tired of seeing other traders failing

nysteve it was all ahk Ken.

Ken-ST Moderator: lol

Ken-ST Moderator: yeah I know

Ken-ST Moderator: sorry

Ken-ST Moderator: I dont get it though

James-ST Moderator: *climbs out from under the table after that scolding*

nysteve i know

Alaska I know we don't do under $10 issues here, but what is your take on entry points on AVII and USEY.  Like with USEY, if the 5 day ema drops below the 20day for a short?

nysteve i'm with alaska...looked at other "services" and all post inflated results,

Ken-ST Moderator: USEY is ok

eric How is the blood pressure Ken?

nysteve this appears to be a winnable system with quick trading talents

James-ST Moderator: Ken=========>[img id=em-11]

Ken-ST Moderator: A break at a new hod is valid

ak I think ahk had an intuition that Ken is coming back. Perfect timing. lol

nysteve chicken

Ken-ST Moderator: lol

Ken-ST Moderator: Man my bp was up there reading his comments.

Ken-ST Moderator: It really should not have though

ak KEn next week you should post another picture of yours on the website.  "The Angry Ken Picture".  lol

Ken-ST Moderator: lol

Alaska on USEY again, so if it rises to a new HOD, breaks down and the lines cross, then that is the type of entry I would look for to short?

nysteve awe..widdle ahk took a couple of stop losses today...boo hoo

James-ST Moderator: We may not have enough triggers for some traders.....just triggers that fit strategies....and if anything.....the triggers often point out the nice movers for the day (most volume and volatility)

ak That will keep James under the table the entire time. lol

James-ST Moderator: lol ak

ak and me too. lol

ak James, I am sure you don't miss simon anymore.

James-ST Moderator: lol

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James-ST Moderator: hey bear

bearrally i think the numbers are all cook

bearrally government is worst than any company that is cooking their book

Ken-ST Moderator: USEY, alaska, there is no real argument for resistance on its daily charts

James-ST Moderator: he was ok......the thing is......i would work with him in private a lot.....his problem was he wascomputer illiterate, so everything was didfficult and frustrating for him.

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ak Deep Fried

Ken-ST Moderator: But you want a smooth and steady trend above its 5 ema on 5 min

Ken-ST Moderator: we do not have that there

Ken-ST Moderator: you have it under its 20 ema

Ken-ST Moderator: you would be better off looking at a violation of the 20 ema

Ken-ST Moderator: wb hunter

Ken-ST Moderator: hey bear

James-ST Moderator: lmao.....first thing bear says when he comes in.......not "Good Afternoon"  but "our Government bunch of crooks"

Ken-ST Moderator: lol bear

Alaska I see, bad short play, who knows how hight it could go since it is so far out of range?

Ken-ST Moderator: it could work but it does not fit into our strategy

James-ST Moderator: yes

Ken-ST Moderator: Type C is a simple concept

Ken-ST Moderator: You are waiting for a trend to break before you are going in

Ken-ST Moderator: and

Ken-ST Moderator: you are looking to have 3 things in you favor

Ken-ST Moderator: better to have other factors in your favor

bearrally how there is no inflation? can someone explain to me?

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Alaska thx

Ken-ST Moderator: I am always skeptical about those reports

Ken-ST Moderator: it seems like they release adjusted numbers the following month

Ken-ST Moderator: when no one is focusing on them

bearrally so i am not the only one that has concern?

James-ST Moderator: Hey Todd you there?

Ken-ST Moderator: born skeptic

Todd-SOF Direct I don't want to keep agreeing with you bear, so I'll let you know when I don't

James-ST Moderator: Todd wake up

Todd-SOF Direct lol Ken

James-ST Moderator: Members want me to ask you something

bearrally todd, lol

James-ST Moderator: Todd

Todd-SOF Direct Autographed picture again?

James-ST Moderator: Is it true the doctors slapped the wrong side when you were born?

James-ST Moderator: nah just kidding

Todd-SOF Direct lol.

James-ST Moderator: Seriously though, members want to see another online training of your platforms, do you have any scheduled?

Todd-SOF Direct Perhaps soon James. I'll let everyone know.

Alaska You know that joke about why the Doctors slap the baby's butts after they are born right?

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James-ST Moderator: no alaska

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James-ST Moderator: Yes, please do Todd.......some members want to see it in action, and i really liked your online classroom with the Platform and demo of how to set up hotkeys and such.

Ken-ST Moderator: Ill do one personally

Alaska ok, this can go either way, so gals don't take offense, you can tell it the opposite way:  To knock the d**** of the dumb ones.

Hunter : lol

James-ST Moderator: lmao

eric luck ally isnt here

Hunter : be back after a bit

Ken-ST Moderator: Hello Margin Rates

bearrally cme is paying good dividend :)

Ken-ST Moderator: Nice

Ken-ST Moderator: twenty point move already

bearrally yup

bearrally 300 call, i paid 4 for yesterday, now at 17

bearrally oct

Ken-ST Moderator: awesome

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

bearrally movi it jy atm

James-ST Moderator: unreal

bearrally goog, cme is my atm

bearrally lol

bearrally are

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Ken-ST Moderator: are there any other questions

?

eric Have a good weekend everyone. Go white sox!

James-ST Moderator: You are still shorting GOOG bear?  I thought you covered?

James-ST Moderator: Hey i like the sox too

Ken-ST Moderator: have a good one eric.

Ken-ST Moderator: take it easy

James-ST Moderator: Take care eric

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Ken-ST Moderator: Friday afternoons gang

Ken-ST Moderator: often times there is a good trend move

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

bearrally james, i cover yesterday on goog

bearrally but trading cme & and goog pay really well

James-ST Moderator: well.......for you....ask the guys who didnt trade it like you how it is treating them

bearrally lol

James-ST Moderator: Ask the guy who bought GOOG at 316 how he feels

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Ken-ST Moderator: wb

johnboy just got back, any triggers on the go?

James-ST Moderator: nope

Ken-ST Moderator: Scanning right now though

James-ST Moderator: not much out there

johnboy ah, okay, I was worried all through breakfast that the market was either exploding or imploding.........the smoked salmon, hash and eggs with hollandaise sauce was worth it

James-ST Moderator: wow that sounds good

johnboy and a pannokoken (pancake) too

johnboy great dutch restaurant in my town, best breakfasts that I have ever have save for the fresh fruit breakfasts in Singapore/Indonesia

James-ST Moderator: geez that sounds like a real good sunday breakfast

johnboy or friday, lol

James-ST Moderator: yep

Ken-ST Moderator: man that sounds good

johnboy ah Ken, you must have access to some great fruits in Hawaii

bearrally james, with the open interest on goog calls, you know that they will shake it before letting it run again before earning

James-ST Moderator: I heard they have a fruit called Cannabis out there?

johnboy I used to love the little bags of fresh pineapple that you could get in Bangkok.....Hawaii must have them too

Ken-ST Moderator: Yeah we got good ones