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********** Good Morning Everyone
********** Thursday 16th, 2007
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peterl has entered DayTrading Chat
Scott-ST Moderator: **** Economic News ****
* EIA Natural Gas Report 10:30 ET
* 3-Month Bill Announcement 11:00 ET
* 6-Month Bill Announcement 11:00 ET
* Philadelphia Fed Survey 12:00 ET
Ricky has entered DayTrading Chat
Scott-ST Moderator: good morning peter
peterl gm all
Scott-ST Moderator: gm Ricky
Jen I heard that, did you guys hear that?
Cale has entered DayTrading Chat
nick has entered DayTrading Chat
ross gOODI have just subscribed, how do I USE YOUR SERVICE
Scott-ST Moderator: gm Cale, nick
nick gm
JQ :)
JQ :(
Scott-ST Moderator: gm JQ
Scott-ST Moderator: gm Tony
JQ :)
kami has entered DayTrading Chat
kami gm
Tony gm
Scott-ST Moderator: ross, sit back and watch how we issue alerts
Scott-ST Moderator: gm kami
ross ok thanks scott
Jen figure out how your trading system works relative to setting up audio alert, suggest setting them 10 cents prior to the suggested entry price once Scott issues it
Scott-ST Moderator: Lunch hour is the best time to ask Questions
Scott-ST Moderator: brb
Cale brh
JQ lol
marcusid has logged out
JQ had enough
anatta has entered DayTrading Chat
anatta gm
Jen gonna need another audio alert I'll bet upon return
marcusid has entered DayTrading Chat
Jen still having problems marcus?
ross what does staples daily breakout stop mean
macias0 has entered DayTrading Chat
Jen Scott, can you see if AMGN and AKZOY are viable for the list?
Heather has entered DayTrading Chat
Jen ross, there are 3 types of plays that the room uses, staples is one that Scott can identify before the market opens.
JQ AMGN
JQ Handsome
nm has entered DayTrading Chat
JQ akzoy
Jen just mentioned those JQ, great minds@
Scott-ST Moderator: sure we can add akzoy
nm gm all
Scott-ST Moderator: gm nm, heather, macias, JQ
Jen no AMGN?
ross thanks jen but does it mean that i buy when it drops to 22.24
Scott-ST Moderator: thats a type A Ross
Scott-ST Moderator: I will explain in a bit
ryan has entered DayTrading Chat
Scott-ST Moderator: gm ryan
Scott-ST Moderator: AMGN is good, adding amgn
Scott-ST Moderator: on my watch list I have: WLSC ACIW LLTC RIMM UBS
JQ GJ Catwoman!!!
Jen thxs JQ
Scott-ST Moderator: GM JQ
JQ Great Scott ya da Manbo!!!
ryan has logged out
JQ GM Dingdong!!!
ryan has entered DayTrading Chat
tc HBAN ???
Scott-ST Moderator: awesome tc, ty
Scott-ST Moderator: adding HBAN
JQ Good Trader Eye tc!!!
Scott-ST Moderator: Markets will be gapping down here at the open
ross jen, sorry if I am thick but what is arca market
Cale gm JQ
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: HBAN has a wide spread right now
Scott-ST Moderator: Watching for Type B Short at new low of the day on AMGN 49.41
Scott-ST Moderator: Watching for Type B Short at new low of the day on AMGN 49.41
Scott-ST Moderator: Watching for Type B Short at new low of the day on AMGN 49.41
ross thanks jen, can you sugest a book to read
Jen later on I will
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NTAP 26.17
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NTAP 26.17
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NTAP 26.17
JQ WOW Big Red on S&P
Jen another 2% on CFC
Cale NICE Trade Jen
JQ Clazy
Cale just keeps dropping down
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NTAP 26.17
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NTAP 26.17
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NTAP 26.17
Scott-ST Moderator: UPDATE: Moving stop on NTAP 25.78
Scott-ST Moderator: UPDATE: Moving stop on NTAP 25.78
Scott-ST Moderator: UPDATE: Moving stop on NTAP 25.78
Scott-ST Moderator: STOPPED Consider exit in NTAP
Scott-ST Moderator: STOPPED Consider exit in NTAP
Scott-ST Moderator: STOPPED Consider exit in NTAP
Scott-ST Moderator: Longs just arn't in the cards today
Jen tough one. Hard to trade against the strong market trend downward
Cale I would guess that if your short, stay short
Scott-ST Moderator: it was a gap in the gap play
ross does your system work with spread betting
Jen AMGN coming down fast
ddj has entered DayTrading Chat
ddj gm all
Scott-ST Moderator: gm ddj
Jen Ross, read some of the info on the website, it explains the 3 strategies
Jen under day trading tab
ross thanks jen i will
Scott-ST Moderator: DOW DOWN 77
Scott-ST Moderator: NAZ DOWN 7.89
Scott-ST Moderator: SPX DOWN 7.62
steve has entered DayTrading Chat
Scott-ST Moderator: gm steve
steve gm scott
Scott-ST Moderator: markets are working to close the gap
Scott-ST Moderator: as the FED's keep pumping money into the system
Scott-ST Moderator: wow 12Billion more into the system
Scott-ST Moderator: our money is going to be worthless
Jen AMGN close
Scott-ST Moderator: ooo, yes, ty Jen
Cale is Uncle Ben in his Helo tossing out the Green back
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AMGN 49.41
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AMGN 49.41
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AMGN 49.41
peterl damn - no fill..
Scott-ST Moderator: UPDATE: Moving stop on AMGN 50.02
Scott-ST Moderator: UPDATE: Moving stop on AMGN 50.02
Scott-ST Moderator: UPDATE: Moving stop on AMGN 50.02
Scott-ST Moderator: UPDATE: Moving stop to entry AMGN
Scott-ST Moderator: UPDATE: Moving stop to entry AMGN
Scott-ST Moderator: UPDATE: Moving stop to entry AMGN
Scott-ST Moderator: STOPPED Consider exit in AMGN BREAK EVEN
Scott-ST Moderator: STOPPED Consider exit in AMGN BREAK EVEN
Scott-ST Moderator: STOPPED Consider exit in AMGN BREAK EVEN
Cale good stop move Scotty Scott
Scott-ST Moderator: Markets are oversold and the stochastics are moving up
Jen Ross, not how it usually works, not a typical day
Scott-ST Moderator: there is room to go lower but today is a conservative day
Scott-ST Moderator: we are in the hardest time of the year to trade these stocks, SUMMER
Scott-ST Moderator: hit profit for those who didn't move their stop
Scott-ST Moderator: and Running Lower
Cale nope, took your stop suggestion, thats okay
nm ntap...what a mess
Scott-ST Moderator: lol
ross ok jen, my bad luck
Jen not if you aren't trading
Scott-ST Moderator: AAPL about to take out the LOD
Scott-ST Moderator: no setup for the down right now, need to see some consolidation
ross that's true but I need to make some money !!
Jen a trader with urgency to make money will likely not make any because they will be too emotional
Cale seems that you just need to short anything and you can be in the green
nm that's right sister
nm and brother
ross you're right its just I've lost a lot of money recently !
Jen all the more reason to take a short break and get your head straight
Jen the system this room uses works. Some days are tougher than others, like today.
ross ok do you advise not trading today and coming back tomorrow
Scott-ST Moderator: DOW DOWN 146
Scott-ST Moderator: NAZ DOWN 21.81
Scott-ST Moderator: SPX DOWN 15.86
Cale ty Scott
Jen no trading today, but do watch, stick around to ask questions at lunch of Scott and other members
Jen go get some books that are suggested and read them tonight.
Drew ty scott just scalped AAPL LOD!
Jen Toni Turner's A Beginner's Guide To Day Trading Online
ross ok thanks jen, i'll do this
Jen Steve Nisson's Candlestick Charts
ross thanks where do i get these books
Cale I liked Toni's book Jen
Cale ross amazon for sure
Jen laymen's terms
Jen not if he is going to read it today
Jen it will be worth the full cost to have the knowledge quicker
ross what is laymen's terms
Jen where do you live Ross?
ross in London
Jen layman is the average person
ryan jen, do you use candlesticks for entry and exit points for stocks that are recommended by scott?
Amlo has entered DayTrading Chat
Jen yes, along with the reading the setup of the trade on the 5 min and daily charts
Scott-ST Moderator: wb Amlo
Jen Of course, Scott's calls are using candlesticks as a foundation as well. Right Scotty?
Scott-ST Moderator: 5 Minute EMA Trend AMGN BREAK EVEN Stochastics Trend
ryan ?
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 50.69
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 50.69
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 50.69
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 50.69
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 50.69
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 50.69
Jen Ryan, question mark for who?
ryan hmmm. i guess either you or scott - sorry jen. i guess i was thinking about how candlesticks were used by scott. but i was thinking only type b - but i guess he might use it for type a's.
Scott-ST Moderator: Watching for Type B Short at new low of the day on AKZOY 71.60
Scott-ST Moderator: Watching for Type B Short at new low of the day on AKZOY 71.60
Scott-ST Moderator: Watching for Type B Short at new low of the day on AKZOY 71.60
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AKZOY 71.60
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AKZOY 71.60
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short AKZOY 71.60
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 71.62
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 71.62
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 71.62
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 72.62
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 72.62
Scott-ST Moderator: UPDATE: Moving stop on AKZOY 72.62
Scott-ST Moderator: UPDATE: Moving stop on UBS 51.26
Scott-ST Moderator: UPDATE: Moving stop on UBS 51.26
Scott-ST Moderator: UPDATE: Moving stop on UBS 51.26
Scott-ST Moderator: SPLS Holding strong
marcusid suggested stop on AZOY is off by $1.00
Scott-ST Moderator: right I corrected it to 72.62
Scott-ST Moderator: note the last 2
Scott-ST Moderator: thams Marcus [img id=em-3]
JQ laters gang...disappearing!!!
JQ has logged out
Scott-ST Moderator: take care JQ
Cale what JQ is leaving the house?
Drew Cybertrader dose not have shares of AKZOY to short? Any suggestions.
Jen Cale, haven't you requested shares when unavailable before?
Scott-ST Moderator: you can try to give them a call to see if they can make the shares avaliable
Scott-ST Moderator: or the next best thing to do is take note of the setup
Jen do it via live chat Drew
marcusid Opinions requested: the ST method generally enters at the LOD/HOD. Often, stocks after entry retrace normally, before they begin to continue in th trend reccomended by ST. That means, after entry, usually there is some loss (due to normal retracement) followed by profit. How many of you try to enter early at or arond of the retracement?
Scott-ST Moderator: No Financial Advice
The information on the Trading Room is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice. The information on this Trading Room is general in nature and is not specific to you. You should not make any decision, financial or otherwise, based on any of the information on this site without undertaking your own due diligence. You agree that any and all use of the information, which you make, is solely at your own risk and without recourse to the Company or the content providers
nm amen
marcusid WE KNOW THAT!!!!!!!!!!!!!!!!!!!!!!
Drew ty..they said they would look for shares
Cale lol
nm lol
Scott-ST Moderator: sorry marcus, I have to post that out each day
Jen not following you marcus
Cale marcus, I will sometimes get in early
Cale depending on the market movement
Jen I think Scott's call's wait for first retracement before entry
Cale but I would not suggest it until you get used to the strategy
Jen I do often get in a few cents early based on Scott's alerts to get a descent fill
Scott-ST Moderator: DOW DOWN 157
Scott-ST Moderator: NAZ DOWN 26.96
Scott-ST Moderator: SPX DOWN 18.13
Jen Scotty, s&p coming down close to support on the daily where we talked, around 1375 ish
peterl go ubs...
marcusid FYI: I ask questions on other traders philosophy just as if we where chatting, exchanging ideas. I may be new to the room, but not naive. I have a lot to learn, but I have my own philosophy and opinions. I just like the exchange of ideas. That seems to me one of the purposes of this room. While we all like ST's approach to day trading, it is a guideline. We all make some variations based on our own styles and gut.
anatta JCI short?
Scott-ST Moderator: Yes Marcus, exactly
Scott-ST Moderator: looks good anatta
Scott-ST Moderator: let me look closer
Jen helps everyone to bounce ideas around Marcus
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in AKZOY
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in AKZOY
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in AKZOY
Ricky ty
Cale SWEET, thanks Scotty Scott
Jen good call Scotty
Scott-ST Moderator: good job gang
Scott-ST Moderator: anatta JCI is just too extended, and dont want to chase it
anatta ty
Cale AAPL still fallinging
Scott-ST Moderator: Yes Jen the S&P is at a key support level
Scott-ST Moderator: it should get down to a point of 1375.36
Scott-ST Moderator: if we take out that swing point from march with volume we will see 1356 next just as fast
Scott-ST Moderator: nice little U turn for AMGN
Scott-ST Moderator: anyone playing the QQQQ's?
nm qqqq's down .60 approx
nm anyone playing the DIA for the last week...sweep!
Cale been working the SDS
Cale and DUG
Cale i am liking these ETF's
ryan jen, how often will you use a candlestick for a reversal pattern and reverse the direction on a ST type B? for example, akzoy looks like it formed a hammer after we exited.
nm yipppeee. cashed out on a short on NTAP
Jen let me take a look
Jen I would view this stock as a continuation of the same trend based on the 5 ema
Jen Until it broke the HOD and 20 EMA, I wouldn't play it long
Jen meaning, it continued to trade below the 5 ema
Jen I guess I don't use a candlestick alone to identify much of anything. I use them as support/resistance, judge sentiment if they have a small or stick body, forget the terms, but know them to see them
peterl grab it back, nm.
Scott-ST Moderator: good trade nm
peterl Hurry up UBS, I'm dying for a beer here..
Scott-ST Moderator: RIMM getting down to its gap
Scott-ST Moderator: AKZOY LOD
nm thanks scott...Peter, for now keeping away from NTAP .....going to be watching
Scott-ST Moderator: [img id=em-8]
peterl I got hit on that NTAP, late entry, so even if its just you taking it back, I'm happy
Cale lol Peter
Scott-ST Moderator: HURRICANE DEAN
Scott-ST Moderator: didn't know it got up graded to a hurricane
nm I was not able to get in on buy...I was too late
Scott-ST Moderator: NTAP is a gap in a gap play
Scott-ST Moderator: you can expect it to close that gap either way very soon
peterl I didnt filled on the winner.. :(
nm I am in Corpus Christi and we are dealing with Tropical Storm Erin.....not any problems so far...just some rain.
tc has logged out
Scott-ST Moderator: just what you need, huh, more rain
nm yeah, we had a record JULY of rain....major overflows in reserves, lakes...still flooding...getting flood disaster federal funds
nm Sure do hope we do not get any of DEAN
Scott-ST Moderator: wow
Scott-ST Moderator: market trading in a choppy YO-YO range this morning
Scott-ST Moderator: Intraday Momentum is Sideways to Down
Scott-ST Moderator: I would expect a test of the LOD's on the markets during lunch
Scott-ST Moderator: just depends on what the FED's announce
Scott-ST Moderator: CANCEL ALL TYPE B ALERTS UNTIL AFTER LUNCH
Scott-ST Moderator: I will start scanning for type C's here in a few
Scott-ST Moderator: I am sure we will find something good
nm C's would be good
ryan ok, i have a stupid question
peterl stay in UBS do ya think ? I'm at breakeven.
nm no question stupid ryan
Scott-ST Moderator: thats right nm
Scott-ST Moderator: just the one you don't ask
Scott-ST Moderator: peter we stand by our open positions
Scott-ST Moderator: if you need a tighter stop i sure can suggest one for you
peterl sigh.. that beer will have to wait..
nm lol peter
Scott-ST Moderator: lol
ryan i was wondering why when i look at my chart in tradestation, stoch only start showing on my charts once the market has been open for about 30-45 min - regardless of the time frame i choose (ie 1, 5, 10 min)
Scott-ST Moderator: if you are looking for a very tight stop on UBS you can consider the 20 ema on the 5 min
ryan macd, and other indicators also have this delay
Scott-ST Moderator: 50.86
Cale not sure ryan
Scott-ST Moderator: ryan, do you have a setting that says , for day session only?
ryan hmmm - i'm looking. i guess it's a setting somewhere.
Scott-ST Moderator: FED' added more $$$ into the system again today
Scott-ST Moderator: not sure ryan, I have never used Trade Station before
Scott-ST Moderator: I am sure you can give their support a call and ask them?
Scott-ST Moderator: maybe?
ryan yeah, i will probably have to do that - or see if i can find something in their forums
Scott-ST Moderator: sorry I wasn't much help
ryan no problem scott. thanks for your input
ryan i've heard someone say that they never trade against the direction of the EMA. i was wondering what others thought
Cale which EMA on what time frame of a chart?
peterl hmm, I guess UBS gets the benefit of some of that extra liquidity
kami looks like we might have big reversal day
ryan cale - maybe the 5 min.?
ryan do people think that by going on the 5 min. you might be too subject to whipsaws?
anatta GMCR ?
Cale I guess it just depends on what ema your looking at
nm plan your trade, trade your plan, plan your trade, trade your plan, plan your trade, trade your plan...
nm self sentiments
ryan but nm - i was wondering if you ever try to participate in 'runners'?
Scott-ST Moderator: uh-oh nm is having ussues
nm yes I have....big wins comes with big lossess
Cale AKZOY is an example of a runner
Jen shouldn't get whipsawed if you're using other references than just the 5 ema
nm yes cale....good example
Cale there is no break of the 20 ema
ryan but, in that case, it's hard to say when a exit will be when you first enter (if you plan an exit from the start)
nm lol scotty
Cale I like to use a trailing stop on my runners
Cale and I will use the 5 ema as a good guide line
ryan thanks cale.
Cale so in that example I would be out now
Cale because it broke the 5 ema
Cale on the 5 min chart
nm trailing stops good
Cale sometimes I will watch a 3 min chart also
ryan do you use the 5 min ema, in terms of if the price breaks the ema?
ryan or the direction?
Cale kinda
Cale if you watch the the candel and if the wick touches the ema, I will exit, even if the direction is still down
ryan ok, thanks cale.
Scott-ST Moderator: Gang,we strongly suggest that a 5 minute candlestick chart of the SPX be kept open to give you a visual of current market conditions, overlay this chart with 5, 20 and 50 ema and slow stochastics.  You will find that this will help you with your personal daytrading, giving you the “heartbeat” of the market.
ryan i was also wondering if most people used market or limit orders for their stops
Jen market
Scott-ST Moderator: that's a hard one to answer because it's up to the traders comfort level
Cale I use Market to enter
Cale limit to exit profit
Jen same here Cale
Cale and stop market to exit a loser
Ricky same here
Jen ditto
ryan what do you guys do if the profit target is touched but reverses?
ryan will you adjust to a market order?
nm ditto 3
steve has logged out
Scott-ST Moderator: ryan, you sould consider scaling out
Scott-ST Moderator: dont feel that you need to wait for that magic 1%
Scott-ST Moderator: nothing wrong with taking profits
Cale just depents on the markets movement
Cale this market is very volatile right now
Scott-ST Moderator: Good Questions Gang
nm Where's Elmer Fudd when you need him?
Ricky Scott, the only problem i have with scaling out before the target of 1% is that usually on a losing position we tend to take a larger than 1% loss. Not having the full 1% gains to offset the loss' makes for a smaller over all profit, which is okay since profit is profit, but just like running a business, you need to make a certain margin to stay in business.
Jen S&P took out LOD
Jen Ricky, I often bail out before the stop for that reason to better manage my capital
marcusid UBS hasn't benefited from the weakenig market. Anybody think it might be a good idea to exit now. Or does it still look good with a stop at 51.26?
Ricky I guess how much before the stop would be the question.
Jen right, just becomes a feeling from watching charts and market direction
Scott-ST Moderator: right Ricky
Scott-ST Moderator: but
Scott-ST Moderator: it comes down to your comfort level
Scott-ST Moderator: its better to take a small profit then break even or a lose
Scott-ST Moderator: you need to manage your capital
nm and sometimes your crytal ball is just low on batteries
Ricky I look at the losses as the cost of goods. if you have a business, you don't get the goods you sell for free, you have to purchase them.
Scott-ST Moderator: we will not move the stop on USB yet
Jen marcus, UBS seems to have support at 50.69, I'd probably wait and see what the market does because it trading tightly with the market
Scott-ST Moderator: but it's is all up to you marcus
Scott-ST Moderator: if you ever would like to know a tighter stop please feel free to ask
Scott-ST Moderator: I am very happy to suggest a more conservative play
Jen 50 EMA or 51.04 ish Scotty?
Scott-ST Moderator: right now I would use 51.05 as a stop, becaus the stock will have to break the 20 ema and the 50 ema to get stopped out
Scott-ST Moderator: both ema's are very good resistance levels
marcusid I think that 51.05 makes sense given last big candle. I don't know about you but I hate to hold during lunch. It's been my experience that stocks often temporarily, at least, reverse pre-lunch trends due to low volume and specialist manipulation. Sometimes its better to sell and get in after lunch if you still like the position (this was written before your 51.05 note)j
Scott-ST Moderator: so true marcus, and thats why we try to keep our trading limited during lunch
Ricky except fot the parenthetical note
marcusid I'ld like some comments on my feeling that, especially during low volume periods (and especially on more illiguid stocks) that if you have a limit or market order on the books, the specialist sees it and takes you out on a spike and then moves the stock back up/down. In other words, the specialist is just taking out people without really changing, significantly, the price of the stock. For that reason (and I may be supersticious or wrong) I often keep my stops/limits (to exit an existing position) above my real (in my head exit) to avoid being picked off by the market maker. Am I the only one who feels this way?
Scott-ST Moderator: thats why we try not to trade the listed stocks and stick with the NAZ stocks, much harder to manipulate
Jen I think you're correct. I often don't enter a system stop. Don't trade low volume stocks or play in low volume timeframes.
Scott-ST Moderator: Watching for possible Type C Buy on RATE 34.76
Scott-ST Moderator: Watching for possible Type C Buy on RATE 34.76
Scott-ST Moderator: Watching for possible Type C Buy on RATE 34.76
Cale marcusid, I use Schwabs alerts so they dont see my orders, they set on schwabs servers and THE SPECIALISTS dont see it
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy RATE 34.76
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy RATE 34.76
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy RATE 34.76
Scott-ST Moderator: UPDATE: Moving stop on RATE 34.23
Scott-ST Moderator: UPDATE: Moving stop on RATE 34.23
Scott-ST Moderator: UPDATE: Moving stop on RATE 34.23
Scott-ST Moderator: DOW DOWN 201
Scott-ST Moderator: NAZ DOWN 35
Scott-ST Moderator: SPX DOWN 21
Scott-ST Moderator: MARKETS new LOD
Scott-ST Moderator: STOPPED Consider exit in RATE
Scott-ST Moderator: STOPPED Consider exit in RATE
Scott-ST Moderator: STOPPED Consider exit in RATE
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in RATE
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in RATE
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in RATE
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in RATE
Scott-ST Moderator: profit!!
Ricky ty
nm Way to go Mr. Scott
Scott-ST Moderator: good trade Gang
Ricky love the smell of money in the morning
Scott-ST Moderator: [img id=em-5]
peterl ah missed that one.. maybe I could short
Scott-ST Moderator: lol
Ricky Peter, did you have a stop limit order or did you just not play it at all?
marcusid Scott: what do you think about shorting RATE?
nm not at this point
peterl nah, didnt play - was distracted by the disaster that is called the Aussie dollar
Jen has logged out
peterl as in losing 5% in one day
nm ouch...sorry peter
marcusid UPS: in the green!
Ricky Peter, is the Aussie weak or strong today? Not sure how you are playing it.
Scott-ST Moderator: just note the setup peter
nm wowzza....maket down, down
marcus has entered DayTrading Chat
Cale wHERE IS THE PPT??
Scott-ST Moderator: WB marcus
peterl PPT out in the hamptons probably
marcusid has logged out
Heather has logged out
Scott-ST Moderator: [img id=em-10]
Jen has entered DayTrading Chat
Scott-ST Moderator: wb Jen
nm PPT escorting Hurricane DEAN
marcus what is holding RATE rate at its range with the markte tanking?
peterl hope they do a better job than Brown
nm no tellin'...this market makes no sense
Jen thxs
Cale LOL nm
Cale I want to be on the PPT team
Cale remember there is no I in TEAM
Ricky What's PPT?
peterl nm that cos the flight to safety has left only traders left in the markets.. ya know the bit about the lunatics have taken over..
peterl i mean day traders
Scott-ST Moderator: the Fed's have a Plunge Proteciotn team
Scott-ST Moderator: http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets
Scott-ST Moderator: anyone watching the $VIX
Ricky Thanks.
Cale wow Becky is not looking so Good in NB
Cale NE
Scott-ST Moderator: $VIX at a all time high
Scott-ST Moderator: Buffett
Scott-ST Moderator: we have not seen a huge pull back as of yet
Scott-ST Moderator: OMG, hold onto your hats
Scott-ST Moderator: DOW DOWN 221
Scott-ST Moderator: NAZ DOWN 49.11
Scott-ST Moderator: SPX DOWN 24.91
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in UBS
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in UBS
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in UBS
Ricky ty
nm way to hang in there for UBS....you just never know...especially as of late
Scott-ST Moderator: [img id=em-10]
Scott-ST Moderator: i Kinda know what I am doing
nm Thank you Chief :-)
anatta Long the Q's Scott?
nm We would need the PPT for the QQQQ's
Scott-ST Moderator: anatta, I would not touch a long right now
Jen has logged out
kami has logged out
anatta OK, ty
Ricky Scott, you going to stick around for the rest of the day?
Scott-ST Moderator: yep, you are stuck with me
marcus has logged out
nm I'm with you scotty
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Jen has entered DayTrading Chat
Scott-ST Moderator: wb marcusid, Jen
peterl WYNN wins my vote for best short of the day
nm FSLR may be competing for that prize Peter :-)
peterl lemme check that out
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peterl oh yeah.. tho it did have that brief struggle up at 10:30
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Scott-ST Moderator: DOW DOWN 309
Scott-ST Moderator: NAZ DOWN 67.75
Scott-ST Moderator: SPX DOWN 34.40
peterl WYNN is just taking a beating - its almost too tempting to sell
Scott-ST Moderator: ouch for the longs
Scott-ST Moderator: lol
nm are you still in on a short on on WYNN peter?
peterl didnt get in.. was just scanning and saw it.. could retace now
nm oh ok
peterl still not really over sold tho
nm I off to have lunch.....brb
Scott-ST Moderator: Rolling out of lunch
Scott-ST Moderator: markets are in an extream low
Scott-ST Moderator: Watching for Type B Short at new low of the day on NTAP 25.62
Scott-ST Moderator: Watching for Type B Short at new low of the day on NTAP 25.62
Scott-ST Moderator: Watching for Type B Short at new low of the day on NTAP 25.62
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 49.87
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 49.87
Scott-ST Moderator: Watching for Type B Short at new low of the day on UBS 49.87
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 49.87
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 49.87
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short UBS 49.87
Scott-ST Moderator: UPDATE: Moving stop on UBS 50.52
Scott-ST Moderator: UPDATE: Moving stop on UBS 50.52
Scott-ST Moderator: UPDATE: Moving stop on UBS 50.52
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 26.62
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 26.62
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 26.62
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 25.62
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 25.62
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short NTAP 25.62
Scott-ST Moderator: 25.62
Scott-ST Moderator: UPDATE: Moving stop on NTAP 26.01
Scott-ST Moderator: UPDATE: Moving stop on NTAP 26.01
Scott-ST Moderator: UPDATE: Moving stop on NTAP 26.01
Scott-ST Moderator: UPDATE: Moving stop to entry NTAP
Scott-ST Moderator: UPDATE: Moving stop to entry NTAP
Scott-ST Moderator: UPDATE: Moving stop to entry NTAP
macias0 has logged out
Scott-ST Moderator: STOPPED Consider exit in NTAP BREAK EVEN
Scott-ST Moderator: STOPPED Consider exit in NTAP BREAK EVEN
Scott-ST Moderator: STOPPED Consider exit in NTAP BREAK EVEN
Jen that's what I love about the trading strategy of the room, you managed the stops beautifully, so while the trade didn't pay, it didn't result in a loss. Nice job Scotty
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bigb whats up guys....how is everyone doing on their trading today
peterl crap..
nm hey bigb
bigb ah sorry to hear
bigb whats up nm
Jen up 7.5%
Jen how about you bigb?
bigb say what.....sweet jen
Jen wahoo!
bigb oh im done on the day.....reached my goal early in the morning
bigb shorted the es at 1402 and the ym at 12820
bigb kind of sad i didnt hold now but oh well got out when i reached my targets
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Jen green is green
bigb cant argue with that
Scott-ST Moderator: Hellow big
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nm bigb...sorry, I was checking out the wacky market
bigb hi scott
bigb its cool, kind of crazy to watch this tape
Cale bigb
Cale hey, I have a question
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Cale how do i read the charts $ADV and $DECL ?
bigb well what i do is create a adv decl line which is the difference of the two and chart it out
bigb like right now by adv/decl line says -2129
bigb just another indicator of the market but seems to work pretty well
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bigb also helps to keep you out of trouble if only a few stocks are accounting for major moves
bigb like on this last candle the market moved up a little but my adv/dec line actually was falling
bigb so a good signal to stay flat
Scott-ST Moderator: STOPPED Consider exit in UBS
Scott-ST Moderator: STOPPED Consider exit in UBS
Scott-ST Moderator: STOPPED Consider exit in UBS
bigb plainly i would not trade this market right now......definetly not long
Scott-ST Moderator: well we gave it a go
bigb wait for more of a rally to a key level to short if you have to trade
bigb lots of short covering right now
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Scott-ST Moderator: wb marcus
bigb how has your trading been going so far marcus
Cale bigb, do you use the advance decline indacotor on those charts?
bigb no
bigb i just keep it simple and watch the general direction of the line
bigb i dont use it to make trades, just use to check myself before going into one
Tony has left the room
bigb would love to see the market rally and take out the hod
JP Financials are flying. ETFC up nearly 20% from the lows just an hour ago.
bigb that would be like free money
nm look at rate JP
bigb everyone is short now so it makes things interesting
nm RATE
nm interesting
bigb were testing some trend lines right now that might cause another spike up
Jen Schwab's trading system is down. What a day for this!
bigb ah that sucks
Jen yeah, I have an open trade. They said they can't assure me that the limit order will execute if it hits
nm Jen, do you trade with Schwab?
nm oh
Jen Streetsmart Pro
bigb what.....they cant assure you.....bastards
bigb tell them they better assure you
Jen and of course you can't get thru to a broker
nm bummer!
nm anyone want to short Schwab?
nm Ha!
Jen broker just said it will trigger if hit
nm good news
bigb geez it better
Jen wouldn't want to be a Schwab service rep today
Jen or at any other brokerage firm for that matter
Jen Schwab story is on CNBC
nm Schwab website troubles on CNBC
bigb just heard
bigb wow
Jen what's schwab ticker
nm not sure
Scott-ST Moderator: [img id=em-4] damn that NTAP
Scott-ST Moderator: our stop was moved too tight on NTAP
nm The nerve
Scott-ST Moderator: with this market you need to let it wiggle a bit
Scott-ST Moderator: lol
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Jen my trade should have triggered. Whew!
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nm SCHW for Schwab
bigb come on just another 100 points on dow now
Jen thxs nm
Scott-ST Moderator: LOL
Scott-ST Moderator: DOW DOWN 137
Scott-ST Moderator: NAZ DOWN 29.77
Scott-ST Moderator: SPX DOWN 9.73
Scott-ST Moderator: quite the come back huh
Scott-ST Moderator: we were down what 300 pts in the DOW?
bigb here we go
bigb i love it
nm quite the norm
nm or against the norm
Cale have you been long bigb?
bigb were down like almost 350 points on dow
Scott-ST Moderator: was it 350?
nm ?
bigb just about
Scott-ST Moderator: Watching for possible Type C Buy on BECN 11.71
Scott-ST Moderator: Watching for possible Type C Buy on BECN 11.71
Scott-ST Moderator: Watching for possible Type C Buy on BECN 11.71
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Scott-ST Moderator: wb marcus
bigb i like this for a reversal day
Scott-ST Moderator: [img id=em-0]
bigb the market grabbed everyone short and now their trying to figure out what the hell is going on
bigb but the market is still down 160 points
bigb so staying on the sideline
Scott-ST Moderator: I would venture to guess we will close on the S&P below 1400
Cale me too bigb, got my 7 pts this morning and am not going to give it back
nm i got 3....waiting on one more trade to realize 4
Scott-ST Moderator: good trading guys
Tony has entered DayTrading Chat
Scott-ST Moderator: there is a short signal forming in the S&P eminis
peterl I hope the revesal is some time away big, as i got short on UBS
Scott-ST Moderator: wb Tony
Tony thx
bigb lol......just scalped a long there
Scott-ST Moderator: BECN is close
bigb didnt want to tell you scott until i got out
Scott-ST Moderator: LOL
marcusid CALE & NM--how'd you get the 7 & 3 pts??????????
bigb ya these shorts dont know what to do
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Scott-ST Moderator: wb Ricky
bigb they are referring to futures trading marcus
Ricky What'd i miss?
nm immr short....NTAP...short twice
bigb here it is guys
bigb were gonna test the highs
Scott-ST Moderator: no signal yet
bigb damn still holding 5 for +10 now
Scott-ST Moderator: markets just about to test HOD
bigb come on baby girl
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy BECN 11.71
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy BECN 11.71
Scott-ST Moderator: TYPE C Trade (Bottom). Consider Buy BECN 11.71
peterl indeed
Scott-ST Moderator: this will move fast
Scott-ST Moderator: UPDATE: Moving stop on BECN 11.49
Scott-ST Moderator: UPDATE: Moving stop on BECN 11.49
Scott-ST Moderator: UPDATE: Moving stop on BECN 11.49
bigb dow at s1
bigb sp testing yesterday lows
bigb im out
Scott-ST Moderator: consider scaling out of BECN WITH Profits in your favor
bigb got a trigger short there on my program
Scott-ST Moderator: no signal here yet
nm good advice scotty
bigb ya im not trading it
Cale lol my DUG gapped down on the 5 min chart
bigb ideally i need to see a hod before i trade anything substantial
Scott-ST Moderator: I think it will test the HOD again
Scott-ST Moderator: then we will have a breakdown
Scott-ST Moderator: my short signal is developing
Scott-ST Moderator: I hope those in BECN was able to take some profits
Drew ty scott sold BECN at 11.79
Scott-ST Moderator: good job Drew
Scott-ST Moderator: we got the surge but not quite to our 1%
Scott-ST Moderator: which brings up a good point, dont feel you have to wait for our 1% exit alert
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Scott-ST Moderator: wb macias
Scott-ST Moderator: bah no Short signal now
Scott-ST Moderator: long signal developing but would not touch it right now
Cale marcusid, got my points trading the S&P futures emini's
nm long....short....same smell, different odor today
Scott-ST Moderator: LMAO
Cale good Point nm
peterl would have thought it was shorts day .. but new highs
nm got kinda of emotional on CNBC with the banter
Scott-ST Moderator: okay here is my short
nm yeeeesssss
Scott-ST Moderator: short at 1398.25
Scott-ST Moderator: oh ues
Scott-ST Moderator: theres 3 points already
Scott-ST Moderator: ues = yes
Scott-ST Moderator: 5 points
Scott-ST Moderator: all with in a minute
Scott-ST Moderator: out with 4.75 pts
Cale wow nice call Scott
nm just amazing....perfect trend example for extremely tight on the stops
Scott-ST Moderator: yep and will go lower
Scott-ST Moderator: DOW DOWN 202
Scott-ST Moderator: NAZ DOWN 38
Scott-ST Moderator: SPX DOWN 17.81
peterl going down.. excellent... for thsoe with shorts
Cale missed that call Scotty Scott
Cale lol
Cale not for us who are still in BECN
Cale oh well thats Day Trading
Scott-ST Moderator: BECN has both the 20 and 50 ema on the 5 min chart as support
nm Cale, I am going to light Catholic Candle for BECN
Scott-ST Moderator: just need to see the Markets hold
Cale AMAN
Cale ty nm, you still iN ALSO?
nm not in...but I am betting many on our team are
Cale cool, ty
Scott-ST Moderator: CFC got up into it's gap
Scott-ST Moderator: failed to close it
Scott-ST Moderator: Watching for Type B Short at new low of the day on WLSC 26.10
Scott-ST Moderator: Watching for Type B Short at new low of the day on WLSC 26.10
Scott-ST Moderator: Watching for Type B Short at new low of the day on WLSC 26.10
Scott-ST Moderator: [img id=em-0] GOING CRAZY HERE
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short WLSC 26.10
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short WLSC 26.10
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short WLSC 26.10
Jen didn't it hit target?
Scott-ST Moderator: we will wait for a better fill
Scott-ST Moderator: it did but....
Scott-ST Moderator: UPDATE: Moving stop on WLSC 26.26
Scott-ST Moderator: UPDATE: Moving stop on WLSC 26.26
Scott-ST Moderator: UPDATE: Moving stop on WLSC 26.26
Amlo I got in and 2 seconds later i got out at 25.85 Wow thxs
Scott-ST Moderator: Awesome Amlo
Scott-ST Moderator: nice, glad it worked for you
Amlo Nice quick one
Scott-ST Moderator: I know your there, I can see you
Scott-ST Moderator: [img id=em-5]
Cale what about a drunken monkey?
Jen are you guys alright?
Scott-ST Moderator: [img id=em-6] lips are sealed
nm Kramer is pumping the fed through Kudlow
Scott-ST Moderator: lol
nm Kramer knows no shame
Scott-ST Moderator: UPDATE: Moving stop on BECN
Scott-ST Moderator: UPDATE: Moving stop on BECN
Scott-ST Moderator: UPDATE: Moving stop on BECN
nm You mean consider exit
bigb looks like maket is breaking down
Scott-ST Moderator: SURE
Scott-ST Moderator: STOPPED Consider exit in BECN
Scott-ST Moderator: STOPPED Consider exit in BECN
Scott-ST Moderator: STOPPED Consider exit in BECN
peterl great - my USB short will play out
bigb and there it goes
Scott-ST Moderator: yes indeed
Scott-ST Moderator: NTAP LOD
Scott-ST Moderator: what the hell, should we short NTAP also?
Scott-ST Moderator: DOW DOWN 247.00
Scott-ST Moderator: NAZ DOWN 51.43
Scott-ST Moderator: SPX DOWN 22.37
Scott-ST Moderator: WEEE.....
Scott-ST Moderator: i DONT Think we wil test the lost though
Scott-ST Moderator: go down about 50% of the move and then have a small short covering rally at the end of the day
bigb im just trailing this thing down
Scott-ST Moderator: out?
bigb ya couldnt resist the profit
Scott-ST Moderator: consider taking profits on WLSC with moves in your favor
bigb dont be a hero guys....take some profits when they are there
Scott-ST Moderator: UPDATE: Moving stop to entry WLSC
Scott-ST Moderator: UPDATE: Moving stop to entry WLSC
Scott-ST Moderator: UPDATE: Moving stop to entry WLSC
bigb thats the sound i wanna hear
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Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in WLSC
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in WLSC
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in WLSC
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in WLSC
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in WLSC
nm take care all...until manana
nm has logged out
macias0 has logged out
bigb im out
bigb nice trading guys
bigb see you tomorrow
Scott-ST Moderator: LATER BIGB
Scott-ST Moderator: any Questions?
bigb has logged out
Scott-ST Moderator: that's a wrap for today gang
Mike22 take care scott.
Scott-ST Moderator: later Mike
Scott-ST Moderator: night all