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********** Good Morning Everyone
********** Monday 20th, 2007
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Scott-ST Moderator: looking at the S&P we are sitting just below the 200 ema
Scott-ST Moderator: on a daily chart
Scott-ST Moderator: and we are below the 20 ema which is below the 50 showing a down trend
Scott-ST Moderator: but we have a short time up momentum right now
macias0 has entered DayTrading Chat
Scott-ST Moderator: the best thing to do is play your day trading very conservative
Scott-ST Moderator: gm macias
JQ wb
Cale has entered DayTrading Chat
limey has entered DayTrading Chat
Cale gm
Scott-ST Moderator: gm limey, Cale
JQ GM Dingdong!!!
Cale gm JQ, have a nice weekend?
JQ Great My Brother!!! ...YOU?
ryan scott, do you think that we will have any type b's before lunch today?
Cale was awesome, whent watersking, a bit sore now
Jim has entered DayTrading Chat
Scott-ST Moderator: always looking ryan, don't see any right now
JQ All body parts still attached?
Cale lol kinda
JQ lol
Cale i thought i was really 22 again
Cale was doing awesome on the water
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Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
macias0 has entered DayTrading Chat
Scott-ST Moderator: Good Morning **** OPENING BELL ****
nm has entered DayTrading Chat
Scott-ST Moderator: wb nacias
Scott-ST Moderator: gm nm
nm gm
Scott-ST Moderator: little bit of a gap up
Scott-ST Moderator: sorry gang I am not finding any B's
Scott-ST Moderator: dont want to force anything
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Scott-ST Moderator: markets pulling back off their Opening Highs
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marcusid NTAP has broken below 50 EMA---a short?
Scott-ST Moderator: falling back down into recent range of trading
nm NTAP starting resistance mode
JQ range rover!
Scott-ST Moderator: watching ITRN
Scott-ST Moderator: markets Turning Red
Scott-ST Moderator: DOW DOWN 10
Scott-ST Moderator: naz down 1.98
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Scott-ST Moderator: SPX DOWN 3.83
Scott-ST Moderator: Q's falling
Scott-ST Moderator: could be a short signal here soon
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Scott-ST Moderator: wb ddj
Scott-ST Moderator: TMA falling
ddj ty scott
Jen I know, tried to short but no shares available
Scott-ST Moderator: make short TMA if we get a good signal
Scott-ST Moderator: see if it will close the gap down
nm no shorts here for TMA
marcusid I shorted VLO @ 63.80
marcusid oops: 63.25
Cale nice intraday chart
Scott-ST Moderator: Markets finding some support
Scott-ST Moderator: markets now moving back into the Green
Scott-ST Moderator: JQ, you getting Rain and Wind?
Scott-ST Moderator: where in TX are you JQ?
marcusid I got stopped out on VLO
Cale that was a tough one
JQ no... dallas
Cale too much trading in recent range, those are the onces I try to avoid
Scott-ST Moderator: ah, so you don't even see any part of DEAN
JQ but it did cool us down a little
Scott-ST Moderator: nice
Cale were you there when they shot JR?
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JQ http://www.youtube.com/watch?v=w1onkOGT8LU
Cale LMAO
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peterl gm all
Scott-ST Moderator: gm peter
JQ GM
marcusid what about shorting TMA if it breaks LOD?
Scott-ST Moderator: looking at it closely, just need a good STOP, so we are looking for some consolidation
marcusid I tried to short it, and its not available through TS
Scott-ST Moderator: if it goe's down it will be fast
tc has logged out
Cale tc tc
JQ ha enough
Cale lol
JQ lol
JQ Calebo did you know Erin was a farmer's daughter?
Cale lol, really?
JQ yapper...Now I'm in Love!!!
JQ Since BroBro ran OFF with LIZ!!!
Cale Get in line dude
JQ LOL
Scott-ST Moderator: Watching for Type B Short at new low of the day on ITRN 10.99
Scott-ST Moderator: Watching for Type B Short at new low of the day on ITRN 10.99
Scott-ST Moderator: Watching for Type B Short at new low of the day on ITRN 10.99
JQ You didn't know she was a farmer!!!!
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short ITRN 10.99
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short ITRN 10.99
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short ITRN 10.99
nm that volume is kinda spooky
Scott-ST Moderator: UPDATE: Moving stop on ITRN 11.16
Scott-ST Moderator: UPDATE: Moving stop on ITRN 11.16
Scott-ST Moderator: UPDATE: Moving stop on ITRN 11.16
Scott-ST Moderator: Yep a bit thin
JQ No B. Spear's here!!!
Cale JQ I need another tune to keep me awake
Scott-ST Moderator: STOPPED Consider exit in ITRN
Scott-ST Moderator: STOPPED Consider exit in ITRN
JQ http://www.youtube.com/watch?v=eVHp-IKvN04
Scott-ST Moderator: STOPPED Consider exit in ITRN
Scott-ST Moderator: Shorting the Q's at 46.45
Ricky man, that was a terrible stop
Ricky meaning the fills
peterl ouch...
peterl I dint get filled ..
Scott-ST Moderator: filled short on the Qs at 46.45
Scott-ST Moderator: stop is 46.65
nm careful on the Q's
Scott-ST Moderator: VERY VERY Choppy Trading in the Markets this morning
Scott-ST Moderator: very tight range
JQ yapper
nm yep just a bit of sledge hammer trading
marcusid I now ITRN is thinly traded but could someone explain how/why in a a hearbeat this dog could go from 11.00 to 11.82 (an 8% move in a second). It is the specialits taking out shorts?
Cale who knows
Scott-ST Moderator: are you in short marcus?
Scott-ST Moderator: Intraday Momentum is Sideways to Up
marcusid Scott: ITRN's average daily volume is only 118,848 shares daily. Very low and thin. Would you consider alerting us that stocks being "considered" are sooo thin. I'd prefer not to trade them for reasons like an 8% move in 3 seconds for no reason. Seems like its manipulation.
Scott-ST Moderator: we will trade anything over 100,000
Ricky **** happens.
Ricky sorry, i meant "crap"
Cale Thats Day Trading
Cale lol Ricky
JQ disclaimer G. Scott
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
ryan has logged out
Cale that must have run ryan off
JQ lol
Scott-ST Moderator: [img id=em-1] I don't want to run anyone off
peterl LOL, nearly has me out for the day also .. terrible fill on that trade
JQ Calebo did you get the link?
Cale what link
peterl But I'll hang in and see if a winner comes up..
JQ 10:39
Cale missed that one
Cale watching now
Cale nice
Scott-ST Moderator: CANCEL ALL TYPE B ALERTS UNTIL AFTER LUNCH
Scott-ST Moderator: Any Questions?
Ricky Scott, you single or married?
nick has logged out
JQ had enough
JQ brb after lunch
Scott-ST Moderator: brh
Scott-ST Moderator: anyone have any Questions Comments?
Scott-ST Moderator: Personal Trades they are working
Scott-ST Moderator: Ricky, Yes
Ricky Yes to what?
Scott-ST Moderator: Married, with kids
Ricky I was watching To Catch a Preditor over the weekend and it brought to mind how anyone can make themselves into anything.
Ricky In a chatroom
Scott-ST Moderator: lol, so easy
Cale I am 22
Cale 6'4 tall
Cale 205 lbs
Cale dark hair
Cale single
JQ I'm in love!!!!
Scott-ST Moderator: LOL
JQ LMAO
Ricky I'd say there's a 34.6% chance Scott's gender is Female.
Scott-ST Moderator: LOL
Ricky Who would konw? Except for Ken.
Scott-ST Moderator: lol
JQ No Chance!
Scott-ST Moderator: 55.87% chance Ken is a Female
Scott-ST Moderator: DOW UP 10
Scott-ST Moderator: NAZ UP 4.02
Scott-ST Moderator: SPX DOWN 1.72
Scott-ST Moderator: very choppy
Scott-ST Moderator: very tight Range
Scott-ST Moderator: this is how August trades
Ricky HIs pitcture is on the website.
Cale lol
Cale a picutre is worth 1000 words
Cale but dont always tell the whole story
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Ricky Do you know the whole story?
Cale nah, I just trust the picture
Cale Ricky is a tricky name, because you could be a he or a she
JQ http://www.youtube.com/watch?v=CDBYklMBq1c
Cale I would say there is a 66.66% chance Ricky is Male
Ricky I'm in San Francisco, i could be both.
Ricky at the same time.
JQ LOL
Cale lol JQ
Cale LMAO Ricky
Ricky I've been married 20 years. My wife's name is Steve.
Cale still does'nt answer the Question
Cale Scotty, can you give us a clue
Scott-ST Moderator: Sorry Cale, staying out of this one
JQ Ya da man Ricky?
Cale lol Chicken
Ricky Actually, i just call her Steve becaue she has a mustache.
Cale OMG, TMI
Scott-ST Moderator: not that there is anything wrong with it
Ricky there is if it's longer than mine.
Ricky I'm just kidding. I've been married to a beautiful, feminine, woman for 20 years.
Cale hummm, RRRriiiight (the sound from the office)
Scott-ST Moderator: Intraday Momentum is Sideways to Down
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.
Cale where do you live Ricky Rick
Ricky South of San Francisco, San Mateo.
marcusid If you look at market depth (if I'm reading it properly) on ITRN there was VERY little volume during the spike from 11:00 to 11:58.Nothing that would explain the spike. Please check for yourselves t to see if I' correct. And if so, doesn't that mean specialits manipulation? Finally, does ITRN look like a good short, day or swing?
Cale nice
Scott-ST Moderator: marcus, I would not touch ITRN untill get gets out recent trading areas
Scott-ST Moderator: until it gets...
Ricky Expensive
Cale have you been their for the past 20 years?
Ricky yes
Cale I sure hope you bought a house back then
Cale you could sell it, move to NB, and retire by now
Ricky Yes, but then I would have to live in NB
Cale but you wouldt have to work at all
Cale you might be able to move to AZ
Ricky I want to move back to Italy.
Cale back to italy wow
Scott-ST Moderator: Markets taking out their LOD
Scott-ST Moderator: see if it holds
Killer doesn't look like it will
Scott-ST Moderator: for those who shorted the Q's with me we will take 1/2 profit at 46.30 and move stop to entry
Killer Scott/Anyone - question - would you recommend using specific routing for better fills?
Scott-ST Moderator: always
Scott-ST Moderator: I would suggest ARCA as your ECN
Killer thanks! Nice trade on Q's!
marcusid I followed you on the QQQQ--thanks Scott. Keep us informed of what you like.
Scott-ST Moderator: okay Filled for 1/2 on the Q's
Scott-ST Moderator: going to let the rest ride down and trail the stop from entry
Scott-ST Moderator: Lower Lows for the markets
Scott-ST Moderator: DOW DOWN 61
Scott-ST Moderator: NAZ DOWN 9.76
Scott-ST Moderator: SPX DOWN 10.59
marcusid Scott: you used a 30 cents trailing stop?
marcusid I mean 21 cents trailing?
Scott-ST Moderator: not a fixed trailing stop
Scott-ST Moderator: going to keep an eye on the emas
marcusid then what is your stop: entry? (you said "trail the stop from entry) on the open 1/2
Scott-ST Moderator: right now it is at entry
Scott-ST Moderator: feel free to make it a tighter stop if you feel comfortable with one
Scott-ST Moderator: this could turn on a dime
Ricky Scott, are the Q's ETF's?
Ricky is the Q and ETF?
Scott-ST Moderator: yes
Scott-ST Moderator: it follows the COMPQ
Jim has left the room
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Ricky Is COMPQ the same as the NASDAQ 100 index?
Scott-ST Moderator: yes
Scott-ST Moderator: Alright Gang we are starting to roll out of lunch
Scott-ST Moderator: markets are oversold but have room to drop
Scott-ST Moderator: we had the big dip during lunch
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Scott-ST Moderator: lower lows for the markets
Scott-ST Moderator: anyone see anything out there?
Scott-ST Moderator: moving the QQQQ stop to 46.31
Ricky Is that like the bus driver asking for directions?
Scott-ST Moderator: LOL Ricky
Scott-ST Moderator: we will keep moving the stops tighter and tighter
Ricky Scott, are the Q's very liquid?
Scott-ST Moderator: not too bad, follows the markets
Scott-ST Moderator: easy to get in and out
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Ricky at 72 million shares i guess if you placed a large order the spread would not be much
Ricky meaning bid/ask
peterl I'm out. catch you all tomorrow ...
Ricky Wait, Peter, you need to suffer like the rest of us.
Scott-ST Moderator: later Peter
Scott-ST Moderator: lol
peterl LOL, I'm almost break even today - and gotta get up early tomorrow, so better to quit..
Scott-ST Moderator: DOW DOWN 76
Scott-ST Moderator: NAZ DOWN 14.59
Scott-ST Moderator: SPX DOWN 12.66
Ricky Are you overseas?
peterl Tokyo - its 2 am here
peterl has left the room
Ricky He wasl already up in the morning. Isn't that like saying wake up and go to sleep?
Scott-ST Moderator: lmao
Cale http://www.youtube.com/watch?v=bxfpMGLMZ7Y
Cale I am all alone? I walk alone
Scott-ST Moderator: I am here Cale
Scott-ST Moderator: anyone have any Questions?
Scott-ST Moderator: Comments?
Scott-ST Moderator: Personal Stocks you are looking at?
Ricky Cale, have you ever seen the I-Rack skit on Mad-TV?
Cale LOL, yea, with the I-TV and I-POD
Cale how its unstable
Ricky That is the funniest thing ever.
Cale it was funny
Ricky Did you happen to watch the Roast of Flavor Flav, on the commedy channel?
Cale dont think i have seen that one
Ricky The first time they had it was about a week ago. If you get a chance to watch it, you will be rolling on the floor.
Killer Question for everyone - do you think the markets are correcting or this is the beginning of the bear market?
Cale I say the begining of the bear market
Cale well actually i think the bear market started a few weeks ago
Cale and we will see it run lower through Oct
Cale imho
Scott-ST Moderator: it's hard to say Killer
Scott-ST Moderator: we are looking at more of a down trend
Killer yep i agree with both. For sure we'll re-test the recent lows
Killer Question for today - do I sell to close SPY puts now? Or there is more downside to S&P500?
Killer doesn't look like buyers are coming in in droves just yet
Ricky Puts are getting pretty good premiums these days.
Cale I think there is more down side
Scott-ST Moderator: I think that a lot of the blast up fridday was short covering
Scott-ST Moderator: and a lot of market makers are not sure which way this will run
Scott-ST Moderator: I also think the FED's have a few more tricks up their sleeves
Ricky I think i'm going to kick the dog and untie my wife. Doesn't look like much else is going to happen today.
Scott-ST Moderator: lol
Ricky has logged out
Cale me too
Cale I am off to kick Ricky's dog
Cale bye
Cale has left the room
Scott-ST Moderator: later Ricky, Cale
Scott-ST Moderator: Markets with a bit of a bounce up
Scott-ST Moderator: the Q's Hit our Stop
Scott-ST Moderator: we are now flat with profits on the Q's
Tony has entered DayTrading Chat
Scott-ST Moderator: ga Tony
Tony ga Scott
Scott-ST Moderator: anyQuestions?
Scott-ST Moderator: I need to step away for a short bit, I will be back in just a few
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JQ brh
marcusid If you have an open stop @ market or limit (to cover a short or sell a long) placed with a direct access broker (like Trade Station) is that order seen my anybody such as specialists or market makers--or is the order only on the broker's server and not sent to market until triggered?
JQ it show's on level II
marcusid JQ: if you are trading a low volume stock, like ITRN, is it possible that the market makers, who see the stops, can drive a stock like this up/down quickly to take out stops--and then just as fast bring the stock back, thus making a nice profit or scalp?
Killer true unless you use non-display. Alternatevely, you can use "Show Only" settings in the advanced order preferences
marcusid Can you do that with stop at market? or only limit orders?
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Killer I beleive only for stop limit. Check the order routing as well - there are some restictions. RE: ITRN - let's just forget it as a nightmare trade. Learn and move on... As for whether it's possible, I don't know... I guess everything is possible
JQ I don't think a specialist can do much on a non listed stock on the electronic highway
marcusid Scott: I'm still in ITRN with a 3.5% loss. I allways close out positions at the end of the day. However, I'm considering holding this dog as a swing trade to recover some of this loss. Any thoughts?
Killer I personally would NEVER keep a day trade overnight. It's either a day trade or isn't. Just because some go against me is not a reason for the trade to become a swing trade.
JQ marcus it's on a downtrend on 30,60, and daily chart..what ever that means
marcusid Yeah, its a dog, but what are the chances it will fill part or all of today's gap down from $12.00 before it continues its downtrend?
JQ .63% short% of float
Killer I'd say pretty good, but then again, I'm not that good at picking the right spots. Looks oversold on daily and 11 looks like short-term (at least) bottom.
JQ 61,800 shares short of 23,321,000 outstanding
Tony has logged out
JQ had enough
limey has logged out
JQ had enough
JP has logged out
JQ had enough
JQ marcus are you holding ITRN?
JQ rocket ship start up
Scott-ST Moderator: CANCEL ALL ALERTS FOR TODAY