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********** Good Morning Everyone
********** Thursday September 13th, 2007
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JP: GRMN relatively close to new 52week high
anatta: gm
Scott-ST Moderator: gm limey, wizeman, anmlo, JP, anatta
Scott-ST Moderator: Markets looking a bit stronger this morning
Scott-ST Moderator: we will see a positive opening
Scott-ST Moderator: gm Tony
Tony: gm
limey: They said the floor is empty and vol will be low
Scott-ST Moderator: yep, today will be very Conservitave!!!
Scott-ST Moderator: we really need to wait until after Tuesday
limey: Jewish holidays
Scott-ST Moderator: I don't think anyone wants to be short right now
Drew: How's QCOM look?
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: QCOM trading in recent range
Scott-ST Moderator: gm JQ
JQ: GM
Scott-ST Moderator: Watching for Type B Buy at new high of the day on ISIS 13.76
Scott-ST Moderator: Watching for Type B Buy at new high of the day on ISIS 13.76
Scott-ST Moderator: Watching for Type B Buy at new high of the day on ISIS 13.76
Scott-ST Moderator: GM mac
mac: gm
Scott-ST Moderator: CANCEL ISIS LONG FOR NOW
Jen: CFC HOD valid?
Jen: nevermind, on the daily it's not, but could be an interesting play
Scott-ST Moderator: LOL
Scott-ST Moderator: gm Cale
Cale: gm
Scott-ST Moderator: DOW UP 89
Scott-ST Moderator: NAZ UP 7.7
Scott-ST Moderator: SPX UP 8.52
JQ: I will see you Girlz after lunch
Scott-ST Moderator: later JQ
Cale: huh?
Cale: you leave as soon as I get back
Cale: oh, hurt feelings now :(
Scott-ST Moderator: RIMM HOD is a valid setup for a Long
Scott-ST Moderator: I want to hold off just a bit to let the dust settle
Cale: gm Jen, did you take CFC?
Jen: oh yeah
Cale: 18.17?
Jen: .12
Scott-ST Moderator: nice Jen
Scott-ST Moderator: gm nick
nick: gm
Scott-ST Moderator: now we will wait for a pull back on RIMM
Scott-ST Moderator: Watching for Type B Buy at new high of the day on RIMM 88.01
Scott-ST Moderator: Watching for Type B Buy at new high of the day on RIMM 88.01
Scott-ST Moderator: Watching for Type B Buy at new high of the day on RIMM 88.01
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy RIMM 88.01
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy RIMM 88.01
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy RIMM 88.01
Scott-ST Moderator: UPDATE: Moving stop on RIMM 87.66
Scott-ST Moderator: UPDATE: Moving stop on RIMM 87.66
Scott-ST Moderator: UPDATE: Moving stop on RIMM 87.66
Cale: C'MON RIMM
Killer: stopped out
Scott-ST Moderator: STOPPED Consider exit in RIMM
Scott-ST Moderator: STOPPED Consider exit in RIMM
Scott-ST Moderator: STOPPED Consider exit in RIMM
Ricky: Scott, RIMM is just not your thang.
Scott-ST Moderator: [img id=em-11] GRrrrrrrrrr
Scott-ST Moderator: it's going to be a very 2 sided trading day today very choppy and hard to trade
Scott-ST Moderator: I would suggest taking your toys home and coming back another day
anatta: JNPR bad day
marcusid: how come such a narrow stop on RIMM. Usually you use a 1 to 1.5 stop at entry and move up from there?
anatta: HOG made a new low
JP: MCD or XMSR hod?
Scott-ST Moderator: MCD is extended
Scott-ST Moderator: keep an eye on XMSR
Scott-ST Moderator: watching FOSL at HOD also
Cale: CELG takning
anatta: Scott, thin vol but what does OCR look like 4 a sh?
Scott-ST Moderator: 4 a sh?
JP: short
Scott-ST Moderator: lol, oops
Scott-ST Moderator: 29.60 would be a good short
anatta: ty JP
anatta: ok, ty Scott
JP: FWLT?
Jen: gotta run. See all tomorrow
anatta: HANS?
Scott-ST Moderator: FWLT is back down into recent trading range
Scott-ST Moderator: wait, chart messed up on FWLT
Scott-ST Moderator: setup on FWLT is perfect
Scott-ST Moderator: Markets are very overbought right now, will hold off issuing that one
Scott-ST Moderator: HANS needs come consolidation around the 49 area so we can have a good stop
Scott-ST Moderator: a bit extended right now
anatta: ty
Scott-ST Moderator: DOW UP 114
Scott-ST Moderator: NAZ UP 3.56
Scott-ST Moderator: SPX UP 10.49
Cale: Drew had enough
marcusid: Scott: I'm beginning to feel "invisible". I asked earlier, and didn't get an answer: why such a narrow stop on RIMM at entry because normally you use 1 to 1.5%.
Scott-ST Moderator: sorry marcus, mornings I am very busy, if I miss your question please feel free to repost it....
Scott-ST Moderator: the tight stop was due to the Market conditions, they were in an overbought area when we entered RIMM
Scott-ST Moderator: and I am going to be very very conservitave until after Tue
Scott-ST Moderator: conservative
Scott-ST Moderator: okay Gang the Markets are looking a bit toppy here
Scott-ST Moderator: ther eis room to move up, but not seeing it right now
marcusid: Scott: thanks for the reasoning.
Scott-ST Moderator: [img id=em-8]
JP: MCD worked out nicely.
Scott-ST Moderator: good job JP
Scott-ST Moderator: markets surging for new HOD
Scott-ST Moderator: very light volume
Tony: would it be possible for you to include the probability of reaching the target along with the alert in your expert opinion?
Scott-ST Moderator: sure Tony
Scott-ST Moderator: it will just depend on time
Scott-ST Moderator: you understand our strategy right?
Scott-ST Moderator: have you reviewd the video?
Tony: yes of course
Tony: video?
Scott-ST Moderator: http://www.swingtrades.com/video.htm
Scott-ST Moderator: the Day Trading Strategies Video
Scott-ST Moderator: CANCEL ALL TYPE B ALERTS UNTIL AFTER LUNCH
Scott-ST Moderator: will start scanning for our type C
Scott-ST Moderator: should have a good selection
Scott-ST Moderator: and if you have any Quesitons regarding a trade please feel free to ask
Scott-ST Moderator: I will try to point out what I am looking at and what i expect
Scott-ST Moderator: wb mac
mac: thanks
Scott-ST Moderator: Watching for possible Type C Short on MDT 54.91
Scott-ST Moderator: Watching for possible Type C Short on MDT 54.91
Scott-ST Moderator: Watching for possible Type C Short on MDT 54.91
Scott-ST Moderator: did RIO split?
JP: Must have
Scott-ST Moderator: Markets at net HOD
Scott-ST Moderator: MCD still looking good, nice trade JP
Scott-ST Moderator: HOG is holding its LOWs
Scott-ST Moderator: TYPE C Trade (Top). Consider Short MDT 54.91
Scott-ST Moderator: TYPE C Trade (Top). Consider Short MDT 54.91
Scott-ST Moderator: TYPE C Trade (Top). Consider Short MDT 54.91
Scott-ST Moderator: remember MDT not MTD
marcusid: what the your plan for LVS which has been making big moves up?
Ricky: Remember Scott, entry is at 54.91, not 49.90.
Scott-ST Moderator: Ricky, table is updated
Scott-ST Moderator: one sec marcus
Ricky: just updated on mine.
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.13
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.13
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.13
Scott-ST Moderator: LVS Gapped up this morning then fell fast to recent trading range with a large RED candle
Scott-ST Moderator: note that LVS only made a new HOD at lunch
ddj: gm all
Scott-ST Moderator: now that it has taken out that large RED candle and made a new high, I will consider it after it has some time to consolidates
Scott-ST Moderator: gm ddj
Scott-ST Moderator: did that answer your question Marcus?
JP: WYNN new highs as well.
marcusid: yes, thanks.
Cale: hurry hurry short CEPH
Scott-ST Moderator: any one intrested in a Training session during lunch??
Scott-ST Moderator: MDT is now below the 20 and 5 EMA and those will act as resistance
Scott-ST Moderator: with the Markets reaching for Higher Highs
Scott-ST Moderator: DOW UP 142
Scott-ST Moderator: NAZ UP 13.32
Scott-ST Moderator: SPX UP 14.40
Scott-ST Moderator: Any Questions?
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.01
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.01
Scott-ST Moderator: UPDATE: Moving stop on MDT 55.01
Scott-ST Moderator: MDT is testing the 50 EMA
Scott-ST Moderator: good support here
Scott-ST Moderator: UPDATE: Moving stop to entry MDT
Scott-ST Moderator: UPDATE: Moving stop to entry MDT
Scott-ST Moderator: UPDATE: Moving stop to entry MDT
Scott-ST Moderator: Markets are pulling back from their Highs
Scott-ST Moderator: MDT is testing the 50 ema on the 5 min chart as resistance
Scott-ST Moderator: I am going to move the stop to 54.82 in the money wich is just above the 20 ema
Scott-ST Moderator: UPDATE: Moving stop on MDT 54.82 (IN THE MONEY)
Scott-ST Moderator: UPDATE: Moving stop on MDT 54.82 (IN THE MONEY)
Scott-ST Moderator: UPDATE: Moving stop on MDT 54.82 (IN THE MONEY)
Scott-ST Moderator: I HAVE TO SAY I love that commercial where the guy falls down the stares trying to get to the phone
Scott-ST Moderator: I think it's a fidelity commercial
Cale: http://www.youtube.com/watch?v=0Ut6CqrmYLE
Cale: thats my fav, I think of you each time i see it scott!!
Cale: hey Big
bigb: hey
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MDT 54.82 (IN THE MONEY)
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MDT 54.82 (IN THE MONEY)
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MDT 54.82 (IN THE MONEY)
anatta: sweet
Cale: yeppers!! thanks Scott, nice stop!!
Cale: Big, fyi Z7 today
bigb: yup, thanks cale
Cale: was on the U7 all morning
Cale: Ricky had enough
wizeman: STILL IN MDT. Looks like a breakdown here. ty Scott
Cale: http://www.youtube.com/watch?v=-GlztZ62NZs&mode=related&search=
Cale: sorry came accross this and LOL'ed
Scott-ST Moderator: good trade wizeman
Scott-ST Moderator: keep a tight stop
Scott-ST Moderator: Markets are trading in a choppy range near their HOD
Scott-ST Moderator: LOL, Cale
Scott-ST Moderator: the 1% profit is at 54.36
Scott-ST Moderator: there is strong fib resistance near the 54.53 area
Cale: http://www.youtube.com/watch?v=eH4u8nAduMw
Cale: some other good ones
marcusid: I sold 2/3 of my MDT position at your stop; and held the balance with a 10 cent trailing stop (currently at 54.72) with the price at 54.66
Scott-ST Moderator: nice marcus
Scott-ST Moderator: what to trade
Scott-ST Moderator: just make sure you take some profits if really start to move either way
Scott-ST Moderator: the easyest thing as a day trader is getting into a position
Scott-ST Moderator: any guessess whats the hardes thing for a day trader???
marcusid: not taking a loss, hoping it will turn around; and not taking a profit, hoping for more $--basicaly GREED and FEER.
Scott-ST Moderator: don't trade with any emotions at all
Scott-ST Moderator: note the support area on MDT
Scott-ST Moderator: DOW UP 138
Scott-ST Moderator: NAZ UP 12.15
Scott-ST Moderator: SPX UP 13.43
Scott-ST Moderator: Still choppy and very low volume
Scott-ST Moderator: as we start to roll out of the lunch I don't see much cook'en
Scott-ST Moderator: I would consider taking profits on MDT
Scott-ST Moderator: this consolidation is leading to an after lunch break top side
Scott-ST Moderator: stochastics are very oversold right now
Scott-ST Moderator: no signals on the Q's at all today
Scott-ST Moderator: we do have a Long setting up but not fully in alignment
marcusid: I think shorting F with a tight stop a little above HOD is a good trade.
Cale: What the F are you thinking
Cale: lol j/k
bigb: haha
Scott-ST Moderator: why do you think that Marcus?
marcusid: For this stock, looking at its trading history, a 5% move is very big. I think its overbougtht at or near HOD. I think it may go higher, but not by much, making it a low risk trade. On the other hand, there is room for some profit taking which will push the stock down. While the dow is up, largly on F, the overall markets are not advance delcline lines are not as bullish. Volume low in the market and we are probably near the highs of the day. Bottom line: more upside and low risk downdise--and above all its just an educated guess.
Scott-ST Moderator: ga rayray
marcusid: ADd one more thing to my analysis: the stock, even is (even with some 3-5 % up days) is still in a downtrend since July.
Scott-ST Moderator: all good points marcus
Scott-ST Moderator: it almost looks like a good SwingTrade Short
marcusid: Agreed--most big moves up are followed by down days wiping out gains.
marcusid: I think after the fed makes its decision, I need to do some swing trading with you
Scott-ST Moderator: with the markets going the way they are I am not inclined to be short for very long at all
Scott-ST Moderator: not until after Tue
marcusid: you bet--
Scott-ST Moderator: MDT right at a strong support area
Scott-ST Moderator: if it breaks below it come move down fast
Scott-ST Moderator: I would not try to catch this falling knife right now
Scott-ST Moderator: but for those that are still in....
Scott-ST Moderator: keep a good stop
Scott-ST Moderator: see what happens
wizeman: Still holding MDT. 15 cent trailing stop. Thanks for the updates Scott.
marcusid: I've got a trailing stop too--its heads/tail win win
Scott-ST Moderator: MDT is in a confirmed down trend on the 5 min, as the 20 just crossed under the 50 ema
Scott-ST Moderator: Markets are moving up though
Scott-ST Moderator: the stock is just below the 5 ema
Scott-ST Moderator: I would have my stop at the 20 EMA 54.66
Scott-ST Moderator: DOW UP 145
Scott-ST Moderator: NAZ UP 12.50
Scott-ST Moderator: SPX UP 12.46
Scott-ST Moderator: Markets pushing for new HOD
Scott-ST Moderator: Gang I need to take off for a short bit, have a kid emergency I need to take care of
Scott-ST Moderator: brb
Welcome to SwingTrades.com!
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Scott-ST Moderator: sorry
Scott-ST Moderator: brb
wizeman See ya tomorrow guys. GL
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Scott-ST Moderator: okay Gang
Scott-ST Moderator: how's it cooken?
Scott-ST Moderator: Just One Hour Left
Scott-ST Moderator: DOW UP 155
Scott-ST Moderator: NAZ UP 17.06
Scott-ST Moderator: SPX UP 15.51
Scott-ST Moderator: Markets are moving up off of oversold areas
Scott-ST Moderator: anyone still in MDT?
wizeman Stopped out at 54.67
anatta wb Scott. All okay with kid?
Scott-ST Moderator: Crude alomst to 80.00 a barrel
Scott-ST Moderator: tyanks anatta
Scott-ST Moderator: had to run to the ER, and get a few Stitchs
Scott-ST Moderator: but all is okay
Scott-ST Moderator: wize nice profit!!
anatta ohhh...tears?
Scott-ST Moderator: Lots of tears
Scott-ST Moderator: 6 year old, strong but does not like the sight of blood
anatta Sorry to hear about that. It's tough being a kid.
Scott-ST Moderator: yeah, but it will make her tougher
anatta Did you cry too?
Scott-ST Moderator: only when I get the bill
wizeman Thanks Scott. Glad you're back.
anatta lol
Scott-ST Moderator: thanks wize
Scott-ST Moderator: LVS very strong sock today
Scott-ST Moderator: rimm Tested its all time high then pulled back
Scott-ST Moderator: CANCEL ALL ALERTS FOR TODAY
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