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********** Good Morning Everyone
********** Tuesday 28th, 2007
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Scott-ST Moderator: we will be doing a Q/A session and Basic Charting Session during lunch if there is enough intrest
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Scott-ST Moderator: gm Nick
anatta great Scott
nick2 gm
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Scott-ST Moderator: GM rICKY
Scott-ST Moderator: or
Scott-ST Moderator: gm Ricky
Ricky gm
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
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Cale hATE iT wHEN i lEAVE tHE cAPS lOCK oN
Scott-ST Moderator: LOL
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Scott-ST Moderator: Did the markets ever see green yesterday?
Scott-ST Moderator: I dont think so
JP Dow did for a minute or 2.
Scott-ST Moderator: did it?
JP About an hour and 15 minutes before close it went positive by 2 or 3 points for about 5 seconds.
Scott-ST Moderator: crazy
Scott-ST Moderator: Well Gang this is very Summerish
Scott-ST Moderator: DOW DOWN 52
Scott-ST Moderator: NAZ DOWN 14.39
Scott-ST Moderator: SPX DOWN 7.52
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ddj gm all
Scott-ST Moderator: GM DDJ
ddj gm Scott
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.49
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.49
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.49
Scott-ST Moderator: WE WILL NOT BOOK THAT ONE
Scott-ST Moderator: That one went fast
peterl vv fast
Cale wow CROX gapped down
Scott-ST Moderator: Sorry Gang
Scott-ST Moderator: maybe it's a good thing
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Scott-ST Moderator: Markets Running Lower
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Scott-ST Moderator: wb Amlo
Scott-ST Moderator: looking at GVHR at the LOD
JQ Just click the back button or right click ,click refresh to bring stock list back up
Scott-ST Moderator: Watching for Type B Short at new low of the day on GVHR 11.49
Scott-ST Moderator: Watching for Type B Short at new low of the day on GVHR 11.49
Scott-ST Moderator: Watching for Type B Short at new low of the day on GVHR 11.49
limey Very low vol !
Scott-ST Moderator: if GVHR starts to fall it will go fast
Scott-ST Moderator: yes lower then Normal but with in the Strategy
marcusid what's GVHR average volume
Scott-ST Moderator: 180k +
Scott-ST Moderator: SIGM LOD, did you get some JP?
Scott-ST Moderator: hope so
JP Nope. No trades yet. Think I might go back to bed.
Scott-ST Moderator: [img id=em-10] would be nice
Scott-ST Moderator: Sorting the Q's if we get a bounce back up to 47.58
marcusid Scott: if a stock like GVHR or ITRN trades with average daily between 100K-200K, what would be a maximum dollar value position that would be too high and either the entry/exit could affect the price by virtue of # of share and make it more diffiult to exit--that's what happened to me with ITRN (had well over 10K shares)--and I want to avoid that type of problem due to its thinness.
Scott-ST Moderator: Filled the Q's at 47.58 Short
Scott-ST Moderator: I understand marcus
Scott-ST Moderator: I think if you go in with a smaller number of shares you would be set
Scott-ST Moderator: it's one of those things that you just have to get a feel for over time
Scott-ST Moderator: Markets all making new Lower Lows
Scott-ST Moderator: let's see what the FEDS do to change things
marcusid I'm following you on the Q's--and filled at 47.54. Next time why not give us a little more heads up? As far as "getting a feel", I have a feel. I like to use the same dollar value for stocks to equalize the % gains/losses. But that has to give way to a broader principal: don't get stuck in a thinly traded stock. So, any suggestions by you, Scott, or others would be apprciatead.
Scott-ST Moderator: Watching for Type B Short at new low of the day on DHI 14.64
Scott-ST Moderator: Watching for Type B Short at new low of the day on DHI 14.64
Scott-ST Moderator: Watching for Type B Short at new low of the day on DHI 14.64
Scott-ST Moderator: Watching for Type B Short at new low of the day on DHI 14.64
Ricky Sound like you've made a reasonable conclusion, "don't get stuck in thinly traded stock". I'd leave it at that.
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Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short DHI 14.64
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short DHI 14.64
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Scott-ST Moderator: wb Ricky
Ricky TY. Did you mention a stop for DHI?
Scott-ST Moderator: UPDATE: Moving stop on DHI 15.01
Scott-ST Moderator: UPDATE: Moving stop on DHI 15.01
Scott-ST Moderator: UPDATE: Moving stop on DHI 15.01
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Cale STOP, Stop, we dont need no stinking STOPS
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Ricky Blazing Saddles
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Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.02
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.02
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.02
Scott-ST Moderator: Watching for Type B Short at new low of the day on SIGM 37.02
Scott-ST Moderator: UPDATE: Moving stop to entry DHI
Scott-ST Moderator: UPDATE: Moving stop to entry DHI
Scott-ST Moderator: UPDATE: Moving stop to entry DHI
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in DHI
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in DHI
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in DHI
Ricky ty
Cale NICE Call Scotty Scott
Cale thanks
Cale still in though
anatta Yahoooo!!
Cale using a Trailing Stop!
Scott-ST Moderator: SIGM Close
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JQ who needs a trailor trash stop
Ricky Scott, what's up with your chart? it keeps cutting off.
marcusid I had 6900 shares of DHI (which I purchased with a stop/limit order) showing a profit of $1300 when I pulled the trigger with a MARKET order. It filled with a profit of $864 (from 1.3% to .8). I seem to get bad fills on market sales.
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Scott-ST Moderator: I would enter with a market limit order and exit with profit using a limit order
marcusid Was it the size of the order that affected the sales price (taking out sellers). Any advise to avoid this problem in the future ie using stop limit on exits and entries. Trying to scale out with 2 market orders splitting the position in 1/2? Any ideas. I wanted my 1%, should have gotton 1.3 and ended up with .8---I know a profit is a profit. I'm not complaining, just looking for good advise.
Scott-ST Moderator: also Marcus are you using ARC?
Cale been there, done that marcus
Cale Like Scott said, I use a limit order to exit with profits
marcusid Scott: I use Trade Station's "Intelligent" option. They are supposed to route to get the best fill. I have the option to select ARCX, NSDQ
Scott-ST Moderator: Look into the ARCA
marcusid and sometimes BTRD, Super DOT--it all depends on the stock. I really don't know one from another, so I use the intelligent routing optoin.
Scott-ST Moderator: but i think the issue was not the route just that you used the market order to exit
Scott-ST Moderator: for the most part that will work just fine
marcusid If I have a 100K position, should I use a stop limit with a few cent spread? If I just use a limit, with a large order, I may only get a partial fill.
Scott-ST Moderator: it will just take some time to get used to how your platform works on various stocks
Scott-ST Moderator: a stop limit would work well also
Scott-ST Moderator: Market for the most part will work also
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Scott-ST Moderator: Markets are working their way back up
Scott-ST Moderator: maybe a bottom
marcusid Scott: for those of us that followed your lead with the Q's, please keep us updated on stops/exits etc. Seem
Scott-ST Moderator: okay NP marcus
Scott-ST Moderator: right now the stop is at the HOD of the Q's 47.71
marcusid stop in place (if hit it would only be a .37 loss, so little downside. But if you don't like the postion at an time, based on current market conditions, no reason to hold to get stopped out--if you/we/us feel otherwise.
Scott-ST Moderator: Correct marcus
Scott-ST Moderator: feel free to exit when you feel you need/want to
Scott-ST Moderator: use our service as a guide line
Scott-ST Moderator: DOW DOWN 85
Scott-ST Moderator: NAZ DOWN 22.42
Scott-ST Moderator: SPX DOWN 12.94
Scott-ST Moderator: markets are trading in the lower are of the intraday trading range
Scott-ST Moderator: see if we make new lower lows
Scott-ST Moderator: do we have any intrest for a Training Session this morning?
marcusid I know you feel you have to state the obvious, but I was a broker for a big brokerage house. I'm no expert at day trading, and love this site and you and your strategies etc, but I'm no fool--and I make my own decision. For example, I thought your stop yesterday at 1.5 on NVDA was wrong--way below support. I used a much smaller stop, and lost less. So I follow and lead depending upon my own judgment. When I ask for advise, its only that I like to get other opinions upon which I can then formulate my own. Got it?
JQ milk?
anatta y, Scott
Scott-ST Moderator: okay anatta
marcusid :) LOL
Scott-ST Moderator: Okay Marcus
JQ lol
Cale Marcus, just looking at the Swingtrade Results should speak for them selves
Cale they use a stragety that works, and we use that startegy to our best level and comfort
Ricky ditto!
Scott-ST Moderator: as a reminder you will need to have installed trading Rooms from www.tradingrooms.com
peterl my level of comfort is trading with a beer in my hand..
JQ lol
Ricky ditto!
peterl maybe thats why I'm missing some trades
marcusid Yes they do: best kept secret in day trading. I'm not arguing with the strategy, but that doesn't meant that we can't make suggestions for sleight variations on the theme for others to "consider". As I see it, we are all on the same team.
Scott-ST Moderator: your input is very apperciated
Scott-ST Moderator: the only rule of input is not to make a call aginst the room, ie. if we are long a stock we don't want to hear that you are going short...
Ricky that's taunting, right?
Scott-ST Moderator: exactly
Scott-ST Moderator: once you get into the rooms you will need to go to Trading Rooms then to Premuim Rooms
Scott-ST Moderator: the password is nvdia
peterl GRMN getting close to LOD
marcusid Thanks! And that's all it is. Just thoughts. I welcome others to criticize or disagree with. I'm not looking for "yes" people, just honest opinion. And one more thing: if you are going long, I'm NEVER going short :)--my variations on your theme is more limited: I may enter early, and use different stops. But I ain't going in the other direction.
Scott-ST Moderator: lol
Scott-ST Moderator: Still Holding our shorts with the QQQQ
marcusid Finally, I like it when you and others bring other stocks to our consideration (like you did with the Q's). It's such a big universe. You can't follow it all, so if someone has a good idea for a trade that isn't a type a
Scott-ST Moderator: yes I appreciate when others share their personal trading
Scott-ST Moderator: you will see more of it when we are out of summer
peterl damn - look at GRMN . missed it..
marcusid or b or c--bring it to my attention, please. And if you wan't I'll do the same. I've made some good trades (and bad ) outside of the ST parameters. As I see it we should all want to help make eachother money and limit or losses--whereever and whenever and from whom the idea comes--from a veteran like Scott and Cale or a newbie like me. You never know where I good idea may come from.
peterl I missed it I mean
Ricky blame it on the beer.
peterl pretty close to the mark Rickers ..
Ricky with all this gushy lovefest going on in the room, i need a stronger drink.
marcusid I moved my stop on the Q's to 47.60 to make it a win or a no loss.
Scott-ST Moderator: thats right marcus, and for the most part everyone does share but as we are in summer it's very slow
peterl hear you on that
Scott-ST Moderator: good stop Marcus
Scott-ST Moderator: I am moving my QQQQ stop to Entry now
Scott-ST Moderator: I will take 1/2 profit at 47.31
marcusid thx. Hey, Ricky, what's wrong with a lovevewst, especially if we're making money?
Cale LOL Ricky
Cale I am up for a Drink
Ricky It's all good. Let's not bitch as much when we lose or not make as much as we thought.
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
peterl Second life - I'll be buying ..
Scott-ST Moderator: markets are running lower
peterl I think even facebook, you can send a virtual drink
Scott-ST Moderator: one thing to note is that SIGM is very strong as the markets are moving lower
Scott-ST Moderator: okay there is 1/2 on the QQQQ's
Scott-ST Moderator: now I will trail with the 2nd 1/2
marcusid I closed out the Q's for 0.4%. I'm happy, and I thank YOU Scott
Scott-ST Moderator: [img id=em-8]
marcusid Between yesterday and today, you are on a roll with winners (and NVDA didn't cost anybody much)
Scott-ST Moderator: CANCEL ALL TYPE B ALERTS UNTIL AFTER LUNCH
Scott-ST Moderator: Training session will start aroung 11:15
Cale I will be there Scotty Scott
peterl I'm in..
Scott-ST Moderator: I will start Scanning type C's here in a short bit
Scott-ST Moderator: okay Gang gong to take 10 min and will start the training session in the training room
JP password still nvidia?
anatta nvdia
JP Thanks
anatta sure
marcusid GVHR IS NEAR LOD!!! Any reccomendations?
Scott-ST Moderator: not during lunch
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Scott-ST Moderator: okay Gang any Questions?
Scott-ST Moderator: I will be moving into the Training Room for a bit
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Scott-ST Moderator: okay Gang Starting to roll out of lunch
Scott-ST Moderator: hope everyone is full
Scott-ST Moderator: and feeling good
Scott-ST Moderator: anyone with any Questions or comments
wizeman Scott, R U ready for 2:00 Fed minutes?
Scott-ST Moderator: as ready as i can be
Scott-ST Moderator: FOMC Minutes at 2:00
wizeman Should move the markets one way or the other pretty significantly I expect.
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Scott-ST Moderator: I am not ecpecting too much movement, there really should not be any surprises....
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Scott-ST Moderator: hey BigB
bigb hey
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Scott-ST Moderator: wb Amlo
Scott-ST Moderator: still riding down the Q's
Scott-ST Moderator: we have our stop at entry right now
Scott-ST Moderator: Watching for Type B Short at new low of the day on TGIC 19.58
Scott-ST Moderator: Watching for Type B Short at new low of the day on TGIC 19.58
Scott-ST Moderator: Watching for Type B Short at new low of the day on TGIC 19.58
Scott-ST Moderator: Watching for Type B Short at new low of the day on TGIC 19.58
Scott-ST Moderator: OKAY Gang anyone intrested and trading the Q's with me, I am moving my stop down to 23.35
Scott-ST Moderator: this will bring our 2nd 1/2 nicely in to the money
Scott-ST Moderator: Any Questions? Comments?
wizeman Careful of those FOMC minutes for any new entries
marcusid Scott: I sold the Q's long ago at 47.35 for a small, but nice, profit. Do you have any suggestions on re-entry. I think its a no--because its anyone's guess how the FOMC' minutes are going to affect the market. My guess is negatively, but who knows?
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Scott-ST Moderator: Marcus, I would hold off right now
Scott-ST Moderator: did anyone get to see the Lunar eclipse this morning?
bigb i did
Scott-ST Moderator: Kinda Cool, uhu?
marcusid TGIC may have been a good type C play at the bottom
bigb ya it was
marcusid too late?
Scott-ST Moderator: yep
Scott-ST Moderator: I would not trade anything right now, we are about to have the FOMC Minutes coming out
Scott-ST Moderator: CANCEL TGIC SORT FOR NOW
Cale hey BigB
Cale ready to go Long??
Cale they will run these markets back to Green
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JP I don't think the Fed minutes are going to mean much.
bigb ya dont want to be caught short in a 100 point rally but i do not think the fomc is announcing anything to surprising today
bigb exactly jp
JP There has been a lot of new data since the last meeting.
Scott-ST Moderator: I agree JP
marcusid if the use the "R" (recession) work, we're going down (unlikely the'd be so obvious). My guess is there will be ambiguity--something for the bears and the bulls.
Scott-ST Moderator: work = word ?
Scott-ST Moderator: the = they?
Scott-ST Moderator: the'd = they would ?
marcusid word/fomc notes
JQ Birds and the Bee's?
Scott-ST Moderator: right you said work
Cale LOL JQ
Cale Scott, stop picking on marcus's typing
JQ got it
Scott-ST Moderator: [img id=em-0]
Scott-ST Moderator: Hampton da man
marcusid I had a limit order on
JQ pick on somebody your own size!!!.....LIKE!!!!
JQ "GG"
Scott-ST Moderator: okay we are stopped for a proffit in the Q's
Scott-ST Moderator: Flat now
Scott-ST Moderator: lol TGIC is running up
marcusid ...on TGIC at 20.20 (about 2 cents below then currnet price that never filled) I was a pig adn go slaugthered (for 2 cents)
Cale all I hear Hampton saying is "bla bla bla bla eco bla bla"
bigb geez i cant tell whether the initial reaction was bullish or bearish
Cale LOL, No movement?
marcusid yeah, typing bad (it was a limit order)
bigb we didnt hardly move at all
Scott-ST Moderator: I would have been surprised if we would have
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Cale wizeman had enough
JQ lol
bigb see if we can at least get a trend for the afternoon though now that this is over
Scott-ST Moderator: lol
bigb ya they didnt say anything at all really
Scott-ST Moderator: DOW DOWN 154
Scott-ST Moderator: NAZ DOWN 33.84
Scott-ST Moderator: SPX DOWN 18.30
Cale here comes the move
Cale DOWN
bigb new low on the dow
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Scott-ST Moderator: wb wizeman
bigb i just covered
JQ wb
bigb gonna wait for a small move up
Scott-ST Moderator: where you long Big?
bigb no short scott
Scott-ST Moderator: was going to say
bigb no only shorts now that we made a new low unless we break some major upward resistance
bigb short the rallies
marcusid I shorted DIA at 131.56 with a tight stop at 132.01
wizeman WINN down 20% today on heavy volume (earnings)
bigb im all flat now
bigb dont like the tape here....could go either way
marcusid Bigb: that's true about every stock. You have to make and educated guess based on the probabilities---look at the trend
Scott-ST Moderator: wow looks like WINN whats to close that gap from May
Scott-ST Moderator: Markets New LOD
bigb es having trouble breaking its low at s3 is whatim looking at
bigb would like to see more panic otherwise you will have a double bottom
bigb like we now may be creating at 48.50
Cale it will test it again
bigb i wouldnt go long but would wait to see if we get a countertrend rally between 2:30 and 3:00 and then look to short again
bigb just sit back and drink a margarita
Cale not going long or short
bigb let someone else fight it out and then jump aboard when one is winning
marcusid I'm outta tequila--but Rum is running
Cale lol
Cale LOL bigB
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JQ had enough
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marcusid Given all the bad economic news that's out there and the fear factor and the long week-end, smart money IMHO isn't want to go long, and will take $ off the table. Maybe not today or tomorrow, but my guess is we're going lower between now and Friday--and then September is usually a down month. I'm glad we're daytraders that can make money if up/down/sideways.
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JQ 8 Ball said ALL that?
Scott-ST Moderator: [img id=em-10]
Scott-ST Moderator: marcus I agree 100%
marcusid I would have settled for 99% :)
bigb lol
bigb you guys are craaaazy
marcusid tell me something I don't already know
JQ http://www.youtube.com/watch?v=nekInx7DV0o
Cale lol, just was listnening to that this morning
Cale lol
Cale CRAZY
bigb lol jq
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JQ wb
JQ LOL
JP LOL....I clicked your link and got booted.
JP Weird.
Scott-ST Moderator: wb JP
Cale http://youtube.com/watch?v=OdCXSiTRR8c
Cale hey hey good bye
bigb cmon es wants to crack
Cale see you all tomorrow!!
bigb cmon its gotta
JQ I got the boot on Moon River!!!!!
Cale gl bigb
bigb later cale
Cale it will big
Cale nite
Cale has left the room
bigb cant be a triple bottom
bigb and there we go
bigb finally
Scott-ST Moderator: lol
Scott-ST Moderator: are you short?
bigb ya at 99
wizeman gvhr finally breaking down
bigb woohoo
bigb 99 i wish
bigb 49
Scott-ST Moderator: lol
JQ may have to ask Calebo to log OFF more often!
Scott-ST Moderator: DOW DOWN 175
Scott-ST Moderator: NAZ DOWN 38.86
Scott-ST Moderator: SPX DOWN 22.54
bigb 48.50 support was beginning to crack on that move down so jumped aboard
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Scott-ST Moderator: Later JP
Scott-ST Moderator: lol poor Cale
Scott-ST Moderator: in a bout 30 min we will see a short covering rally
marcusid I shorted BAX (a ST long!) LOD. Very tight stop
Scott-ST Moderator: we called that one long?
marcusid I believe so with a stop at 50.83 and 56.00 target--but I may may be confused with another trading room
Scott-ST Moderator: lol, WHAT??? another Trading ROOM [img id=em-1] oh that hurt
Scott-ST Moderator: ouch that hurt bad [img id=em-2]
bigb ouch....maybe he meant the tradingroom room
JQ Now look what you've done marcu!!
bigb ya thats it
bigb now ive gotta go get scott drunk
marcusid I'm loyal to ST--on other rooms I'd only take the opposite position--a VERY winning strategy.
bigb ah good answer
JQ http://www.youtube.com/watch?v=SmVAWKfJ4Go
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Mike22 still short bigb?
bigb no
bigb dont want to get caught in any relief rally this late in the day
bigb some shorts will cover out soon
wizeman looks like it might be a sell-off to the LOD into the close
Scott-ST Moderator: big that took out s3 right??
bigb ya could be
bigb ya took out s3 on all the markets
bigb pretty weak
Scott-ST Moderator: figures
Scott-ST Moderator: wow Johnny Cash was old in that one
Scott-ST Moderator: CANCEL ALL ALERTS FOR TODAY
bigb see if we get a 3:15 move here