Scott-ST Moderator: *
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********** Good Morning Everyone
********** Thursday September 20th, 2007
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Scott-ST Moderator: gm Killer
Scott-ST Moderator: Markets look like there will be a flat open
Scott-ST Moderator: but the Futures are way up from their premarket lows
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Good Morning **** OPENING BELL ****
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NDAQ 38.55
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NDAQ 38.55
Scott-ST Moderator: Watching for Type B Buy at new high of the day on NDAQ 38.55
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Scott-ST Moderator: GM TraderChic
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NDAQ 38.55
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NDAQ 38.55
TraderChic gm todo
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy NDAQ 38.55
Scott-ST Moderator: UPDATE: Moving stop on NDAQ 38.05
Scott-ST Moderator: UPDATE: Moving stop on NDAQ 38.05
Scott-ST Moderator: UPDATE: Moving stop on NDAQ 38.05
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in NDAQ
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in NDAQ
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in NDAQ
JP Very nice
Cale TY
JQ $$$$$
Ricky ty
Jen: nice Scotty
anatta ty
Scott-ST Moderator: that's the way it sould be, huh?
JP Definately
JQ Rockstar!!
Jen: amazing, if you just follow the discapline, it works! Why do we fight it????!!!
Cale lol, I do not know, I try to fight fighting it all the time
Jen: CMTL HOD?
Scott-ST Moderator: the Stop is too wide
Scott-ST Moderator: we can thank anatta for bringing up NDAQ [img id=em-10]
JP Spread is on the wide side as well.
Jen: thxs Anatta!
Cale WOW, thanks Anatta
Jen: close to 1% on CMTL
JP Nice Jen
Jen: see, there I go again, not listening!
Jen: thxs JP
Cale lol
anatta You guys and gals are welcome!
anatta GS
wizeman CROX starting to look good as a short?
Scott-ST Moderator: GS is a good short, but we will wait until it is below the 5 ema
anatta ok
Ricky Scott, don't mean to sound inexperienced, but when you're looking at the 5ema on a stock, what time period do you have up on the price chart?
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.
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Cale wow, big is up early, gm bigB
bigb gm
JQ hey bigb
Scott-ST Moderator: Ricky, 5 Min for 99.98% of the Charts
Ricky I keep looking at the 5 minute and the lines keep crossing.
Scott-ST Moderator: DOW DOWN 29.00
Scott-ST Moderator: NAZ DOWN 9.48
Scott-ST Moderator: SPX DOWN 4.72
Ricky So at which point could you determine we're GS is under the 5 day ema?
JP Did you get that pop in CMTL Jen?
Scott-ST Moderator: once the price goes below the 5 ema
Scott-ST Moderator: NDAQ, pulled back down fast
Ricky I must be viewing it wrong
Scott-ST Moderator: Ricky, once we have a pirce that is below the 5 ema, I wll look for a pull back and some consolidation. Then consider a stop
Scott-ST Moderator: after all that looks good I will issue the Alert
Scott-ST Moderator: right now GS has broken the 5 ema support
Scott-ST Moderator: now it's pulling back
Ricky Thanks for the technical, but i'm just can't read the chart itself.
Cale what are you having a hard time with Ricky?
Ricky if i said life, would that be too general?
Cale LOL
JQ Can't hold BIDU down!
Scott-ST Moderator: Watching for Type B Short at new low of the day on GS 206.60
Scott-ST Moderator: Watching for Type B Short at new low of the day on GS 206.60
Scott-ST Moderator: Watching for Type B Short at new low of the day on GS 206.60
Scott-ST Moderator: Watching for Type B Short at new low of the day on APOG 25.94
Scott-ST Moderator: Watching for Type B Short at new low of the day on APOG 25.94
Scott-ST Moderator: Watching for Type B Short at new low of the day on APOG 25.94
Ricky Cale, Visually, if i look at the chart for GS over a year, the 5 ema line is below the price. if i look at the 5 minute chart, with the 5 ema, the lines keep crossing. So i didin't get what is menat by the price being below the 5 ema.
Scott-ST Moderator: Ricky do you have time today at lunch to jump into the Training room?
Scott-ST Moderator: we can have an EMA lesson
Ricky Only if you tap your foot three times.
Scott-ST Moderator: I can do better, I will Click my Heals three times
Ricky Or stroke the keyboard.
bigb lets see what bernanke has to say right now
Scott-ST Moderator: [img id=em-0] HUMMM, LINE, CROSSED
Cale is he on?
JQ bigb do you trade stocks?
allende I have a similar problem: can't get accurate intraday moving average charts--only "daily"--and need help if there is going to be training
Ricky Scott, i'll try to stick around, but thanks for willing to help if i can't.
Scott-ST Moderator: allende, what charting software are you using?
allende Trade Station
bigb yes bernanke speaks right now
bigb no jq i dont trade any stocks
Cale and we have Leading Indicators news also
Cale not much of a market mover though
bigb yup
Cale What is the Philadelphia Fed Survey?
allende apog close
Scott-ST Moderator: The general conditions index from this business outlook survey is a diffusion index of manufacturing conditions within the Philadelphia Federal Reserve district. This survey, widely followed as an indicator of manufacturing sector trends, is correlated with the ISM manufacturing index and the index of industrial production.
Scott-ST Moderator: allende, you should be getting intraday Charts
Scott-ST Moderator: with Trade Station
Scott-ST Moderator: I have little Knowledge on Trade Station, but there are others in the room that use it...
Ricky Scott, in reference to the 5 ema, while looking at a 5 minute chart, is the 5 ema, 5 days?
JQ today
Scott-ST Moderator: no
Ricky So 5 minute chart, 5 minute ema?
Scott-ST Moderator: the number (5) is the avg for the past 5 bars
Scott-ST Moderator: correct
Jen: of whatever chart you are working with
Scott-ST Moderator: so on an hourly chart, the 5 ema is the avg of the past 5 hrs
Ricky That's my problem then. My broker doen't allow me to set the 5 minute ema, at least i think i can't.
Jen: APOG
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short APOG 25.94
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short APOG 25.94
Scott-ST Moderator: TYPE B Trade (Gap). Consider Short APOG 25.94
Scott-ST Moderator: so if you look at the daily chart of GS the 5 ema is at 24.36
Killer stop on APOG?
JQ rickey who do you use for charting? it is your settings
Ricky Interactive Brokers.
JQ period: 5 min.-today
JQ anybody in here with IB?
Jen: can you see yesterday's activity as well?
Scott-ST Moderator: UPDATE: Moving stop on APOG 26.31
Scott-ST Moderator: UPDATE: Moving stop on APOG 26.31
Scott-ST Moderator: UPDATE: Moving stop on APOG 26.31
Ricky I can see all activities, it's just the ema settings. it will only allow me to se the number of day, not minutes on the averages. I will call them to see if what i'm missing.
Ricky pardon my english.
Cale np Ricky, My Engrish, not so gooder either
Ricky s'ank yu
Ricky What do you call a girl with one leg?
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Jen: peg?
Ricky Ilean
Cale LOL
Ricky What do you call a Chinese girl with one leg?
Cale I kinda like Peg
Ricky Irene
Jen: oh man
JQ lol
Ricky Is that bad?
Jen: probably not PC but we aren't so good with that
Jen: CHRD close but volume is lowwwwwwwwwwww
JP SINA worked out nicely.
JQ gj
anatta y, great chart on SINA
Scott-ST Moderator: good trade JP
JP thanks
JP I missed it but Cree also had a nice run, did you play it Anatta?
Scott-ST Moderator: GE taking over CREE, I think that's the rumor
JP There has also been a lot of options activity pointing to the $35 area.
bigb chop trading in the opening range
Scott-ST Moderator: not sure the Market really knows how to react to all this news
Jen: be aware on APOG, target profit is just barely above 20 ema
bigb we may chop around like this until philly fed
anatta No, JP, I also missed it. Was also watching NILE and missed it. I need more eyes.
Scott-ST Moderator: The Volume is not as high as I was looking for
Cale bla bla bla
JQ bla
JQ bla
JQ bla
Cale bla bla Fed bla bla bla bla consumer bla bla bla rates bla bla lba lending bla bla bla
Cale LOL
anatta See any news on EFUT?
JQ LOL
JP Anyone catch JRJC today....or the past week?
JQ bla
Cale wow 100% move in the month
Cale would have been nice huh JP?
JP Would have been an Aston Martin lol
limey I had 4 alerts go off at the same time watched JRJC but missed getting in !!
Cale lol, and an H3, JP
Cale would you really get an aston martin?
JP If I had an extra $120k.....yeah, I'd buy a Vantage.
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JQ Would you hang a pair of crystals on IT?
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Cale lol
Scott-ST Moderator: CANCEL ALL TYPE B ALERTS UNTIL AFTER LUNCH
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Scott-ST Moderator: Will Scan for type C alerts now
Scott-ST Moderator: Watching for possible Type C Buy on PHM 16.71
Scott-ST Moderator: Watching for possible Type C Buy on PHM 16.71
Scott-ST Moderator: Watching for possible Type C Buy on PHM 16.71
allende how come you cancelled other alters during lunch, but are watching for PHM?
Scott-ST Moderator: 2 different Strategies we use
Scott-ST Moderator: the type C is a play we use for tops or bottoms
Scott-ST Moderator: we play type A's and C's During the Lunch but cancel the type B's
Scott-ST Moderator: Markets are very Choppy right now
Scott-ST Moderator: Lunch must be good on Wall Street this afternoon [img id=em-10]
JP What makes you say that?
bigb looks like breakfast extended into lunch
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Ricky ty
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in APOG
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in APOG
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in APOG
Cale yes, thanks
Scott-ST Moderator: [img id=em-8] Good Trades guys
JQ http://www.youtube.com/watch?v=W-0xp_GcfZQ
bigb were getting an ascending triangle in the markets
bigb not much to trade on yet
Killer thanks Scott
Scott-ST Moderator: good trade killer
Scott-ST Moderator: JP, say what?? the Lunch thing?
Scott-ST Moderator: low volume, no trend, and choppy
Scott-ST Moderator: LOL JQ
Scott-ST Moderator: thanks for the Tune :)
JQ now are you sure you want to be a rockstar?
Scott-ST Moderator: Always
Cale you are my Rock Star
JQ *man hug*
JQ LMAO
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Scott-ST Moderator: lol
Scott-ST Moderator: wb mac
Scott-ST Moderator: Any Questions??
Scott-ST Moderator: Crystal Ball Readings?? Intraday or Swing?
mac thanks
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Scott-ST Moderator: Watching for possible Type C Short on CUTR 26.43
Scott-ST Moderator: Watching for possible Type C Short on CUTR 26.43
Scott-ST Moderator: Watching for possible Type C Short on CUTR 26.43
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Scott-ST Moderator: Good afternoon catalan
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Scott-ST Moderator: [img id=em-2] take care Ricky
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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
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Scott-ST Moderator: [img id=em-10] wb Killer
Killer thanks
Killer one of my systems crashed and is still out :(
Scott-ST Moderator: uh-oh
bigb a big buyer has been stepping into the es right now
bigb same buyer as yesterday
Scott-ST Moderator: who Big?
Scott-ST Moderator: how Big?
bigb some options group
Scott-ST Moderator: not who
bigb theyve been buying from 8 to 8.75
Scott-ST Moderator: who do you know?
bigb it will be interesting to see if they can support it
bigb it was down in the pit
Scott-ST Moderator: ah
Scott-ST Moderator: who much?
Scott-ST Moderator: how
bigb they bought 500 big es at 8 even and continued up several hundred to 8.80
bigb big sp
bigb not es
bigb then they purchased es when it pulled back down to 8 again
Scott-ST Moderator: ah
bigb hurting the locals who sold to them now
Cale big who are locals in the Pit?
Cale there is paper and locals right?
bigb big paper and retail paper
bigb locals are basically the middlemen, marketmaker
bigb there pushing it up now.......up 3 points
Cale got long at 39.25
bigb nice cale
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Cale took 1 pt
bigb good, you should take quick profits today until we break out of this opening range
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Cale agreed Big
Scott-ST Moderator: ga nick
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nick howdy
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JQ Is the ship going DOWN?
Scott-ST Moderator: nope, very choppy right now
Scott-ST Moderator: not much action at all
bigb lot of sellers coming in
Cale now the ship is going down
bigb still in narrow range
Cale short at 39.75
Cale was only looking for another point
Cale will take the 3 though
Scott-ST Moderator: wow nice trade Cale, told you, you were a gambler
Cale hehe
JQ http://www.youtube.com/watch?v=kn481KcjvMo
Cale LOL, I know that was coming....
Scott-ST Moderator: knew?
JQ LMAO...I was at that concert!!!
Drew CUTR triggered for me
Scott-ST Moderator: TYPE C Trade (Top). Consider Short CUTR 26.43
Scott-ST Moderator: TYPE C Trade (Top). Consider Short CUTR 26.43
Scott-ST Moderator: TYPE C Trade (Top). Consider Short CUTR 26.43
JQ I wouldn't tell just anybody about THAT
Cale yeah, that one I might keep to myself JQ
Scott-ST Moderator: GS Moving lower
bigb watch 35.50 which happens to be the low as well. if it fails there are probably alot of stops below it
JQ these Capital Hill boy's will put you to sleep G. Scott
bigb was yesterdays low too
JQ what trade are you looking for bigb?
Cale The Profitable one
JQ lol
bigb watching the lod
bigb lol cale
Cale covered, now Long again
bigb shorts will be gunning to push for new lows. if they cant that area will become good support in the future
bigb rare that you get two days in a row with same low
JQ entry?
Scott-ST Moderator: interesting with the DOW, all 7 out of 30 are red, (the rest green) and the DOW is down 21
bigb ya you can thank boeing for that
allende how come PHM didn't trigger since it hit 16.71 and you said that type A & C's are not "cancelled" when you cancell all alerts that only applies to type "B" plays?
JP It hit that level before the alert, it hasn't hit entry since the alert was posted.
bigb agree scott, damn price weighted index
allende when you see positions listed with entry prices, is it not the ST strategy to place stop/limit orders in advance? Do you have to wait for the chat altert. In other words, when is it correct to place orders in advance of entry when the entry price is listed in the position chart (on the left). Please explain clearly since it is my intent to follow, generally, the ST strategy
Scott-ST Moderator: Allende, it needed to get to 16.71
JP Don't wait for the audio room alerts, you will completely miss the fast movers.
Scott-ST Moderator: I see that it only reached 16.69
JP Prepare your orders when the initial "watching" alerts are announced.
bigb off to lunch, noon in chicago. brb
Scott-ST Moderator: you in the windy city?
JP Cale you going to the CNBC thing in Denver tomorrow?
bigb no just pretending i am today
Scott-ST Moderator: TYPE A Trade (Breakout). Consider Buy CHRD 15.19
Scott-ST Moderator: TYPE A Trade (Breakout). Consider Buy CHRD 15.19
Scott-ST Moderator: TYPE A Trade (Breakout). Consider Buy CHRD 15.19
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Scott-ST Moderator: WB Tony
Tony ty
mac SINA & NDAQ charts look good
JP MPWR?
Scott-ST Moderator: how did we miss that gap up today?
JP I was watching it this morning but got caught up in other plays.
Scott-ST Moderator: ah
Scott-ST Moderator: SINA was looking good but it has this little dip here
Scott-ST Moderator: Watching for Type B Buy at new high of the day on MPWR 25.05
Scott-ST Moderator: Watching for Type B Buy at new high of the day on MPWR 25.05
Scott-ST Moderator: Watching for Type B Buy at new high of the day on MPWR 25.05
anatta GS
Scott-ST Moderator: lod
JQ GS
Scott-ST Moderator: but we did not re issue that alert from this morning
allende RE: CHRD (and other very low voume stocks). On type A & C stocks, isn't the fact the stock trades with such low low volume an conern?
Scott-ST Moderator: can be but they have an avg above 120k each day
allende So lonly Swing Trade subscribers are the people tradin gthe stock :)
Scott-ST Moderator: New LOD for the Markets
bigb back
bigb ah missed the break of lod
bigb of course
bigb looks like a double bottom right now on ym though
Cale Good Lunch Big?
bigb some mexican
bigb another support area here at 34
Cale the sky is falling they sky is falling...
bigb yup some good support at 34
Scott-ST Moderator: UPDATE: Moving stop to entry CUTR
Scott-ST Moderator: UPDATE: Moving stop to entry CUTR
Scott-ST Moderator: UPDATE: Moving stop to entry CUTR
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy MPWR 25.05
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy MPWR 25.05
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy MPWR 25.05
Scott-ST Moderator: TYPE B Trade (Gap). Consider Buy MPWR 25.05
Killer stop?
Scott-ST Moderator: UPDATE: Moving stop on MPWR 24.66
Scott-ST Moderator: UPDATE: Moving stop on MPWR 24.66
Scott-ST Moderator: UPDATE: Moving stop on MPWR 24.66
Cale WE Dont need no stinking Stops
Killer :)
Scott-ST Moderator: I would suggest taking MPWR profit when it hits
JQ You thinking this downtrend continuing
Killer Sorry don't mean to rush you Scott on those stop... it's just that I like to set my orders as brackets, so I need to enter the target and stop amounts at the same time..
Scott-ST Moderator: np
JQ did you not like GS?
Scott-ST Moderator: didn't like the setup
bigb looks like an NR7 today
Cale nr7?
bigb narrow range 7
bigb could be a narrow range 30
Cale 30 being the point range?
bigb the number is the preceding days
bigb most refer to 4 and 7 as significant numbers for this
Scott-ST Moderator: very low volume today
bigb just mean today is the smallest range its been for that amount of preceding days
Cale so look at the past 30 days and see a range?
Cale ah
bigb they are usually followed by bigger moves and volatility
Scott-ST Moderator: might Consider scaling out of CUTR here with some profits
bigb here is a breif explanation http://www.patterntrapper.com/subscriber/lowrngc.shtml
bigb ah boo
bigb hold on
Cale got an error 404
JQ bigb thanks for your futures insights...trying to learn
Cale yea me too
bigb http://www.patterntrapper.com/subscriber/LowRngC.shtml
Scott-ST Moderator: UPDATE: Moving stop on CUTR 26.36 In the Money
Scott-ST Moderator: UPDATE: Moving stop on CUTR 26.36 In the Money
Scott-ST Moderator: UPDATE: Moving stop on CUTR 26.36 In the Money
bigb np JQ
Scott-ST Moderator: Risking Nothing
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Scott-ST Moderator: wb wize
wizeman Thanks Scott. GC today.
Scott-ST Moderator: ty
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bigb very choppy
Scott-ST Moderator: now now
Scott-ST Moderator: Making lower Lows
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Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in CUTR
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in CUTR
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in CUTR
Cale not worth trading in today
JQ gj
Scott-ST Moderator: [img id=em-8]
anatta nice trade Scott
Scott-ST Moderator: good job anatta
Cale the sky is Falling (again)
JQ http://www.youtube.com/watch?v=i18nSZBgOfs
Cale lol JQ
Cale Thats the long Version
JQ Okay boys lll LATERS!!!!!
Scott-ST Moderator: DOW DOWN 55
Scott-ST Moderator: DOW DOWN 60
Scott-ST Moderator: NAZ DOWN 13.53
Scott-ST Moderator: SPX DOWN 10.28
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Cale JQ had enough
Cale RIMM moving lower
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Scott-ST Moderator: ONE Hour Left Gang, any Questions?
Cale big run lower
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Cale WHAT GOES UP, MUST COME DOWN; SPINING WHEEL - ROUDN AND ROUND
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MPWR
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MPWR
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MPWR
Scott-ST Moderator: 1% PROFIT HIT. Consider taking some profits in MPWR
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Scott-ST Moderator: CANCEL ALL ALERTS UNTIL TOMRROW MORNING
Jen: nice day Scotty, thank you
Scott-ST Moderator: and thank you Jen
Tony ty Scott good day
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Killer thank you Scott
Killer may take tomorrow off
Killer see ya
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