Underground Trading Pit Sample Log

#TradingPit - Thursdayday, 06.23.2011

[08:23] <Jay> morning traders
[08:24] <Jay> jobless claims out in a few mins
[08:25] <bamboo> morning jay
[08:26] <Jay> morning bamboo, bodhi, ddog, dcat
[08:27] <Jay> 429k
[08:28] <wil> gm all
[08:29] <Jay> morning wil
[08:29] <wil> nice dip on spy... must be a bad econ number?
[08:30] <wil> then a strong recovery
[08:30] <wil> on spy
[08:31] <boddhi> morning all
[08:31] <Jay> wasnt a good number
[08:31] <Jay> no improvement actually worse by 9k
[08:31] <Jay> daily 5 gapped down under like nothing
[08:31] <Jay> on the spy
[08:32] <Jay> 60 min full oscillation down to 5 band
[08:34] <Jay> weekly lower bbs at 126.75 and daily 200 at 126.44 on spy
[08:34] <Jay> 128.03 is the dialy 5
[08:35] <Jay> surprising ho w they gapped it clear thru this morning without much of a fight
[08:35] <Jay> i mean gapped it down clear thru daily 5 spy
[08:36] <Jay> as have been pointing out that weekly stochs has a mini inverse pup
[08:45] <Jay> man o man.. that weekly mini inv pup on the spy no joke
[08:46] <Jay> but this is premarket
[08:47] <Jay> usually.. on big gaps down
[08:47] <Jay> they try to at least bottom out the 5/15 min stochs into the open and try to grind back up
[08:47] <Jay> so would be careful shorting lows
[08:47] <Jay> keep an eye on the 5/15 min stochs
[08:47] <Jay> bbby gap on earnings
[08:48] <Jay> 126.43 <-- daily 200 on the spy
[08:51] <ddog> gm J and all
[08:52] <Jay> morning ddog
[08:52] <Jay> we've seen this before gang
[08:52] <Jay> remeber to watch JPM
[08:52] <Jay> the banks are the stabilizers in a down market
[08:52] <Jay> if JPM starts to buy fade against the spy
[08:52] <Jay> thats a sign spy nearing a bounce
[08:53] <Jay> funny how they bleed banks into rallies and buy them into dump
[08:54] <Jay> gonna be a long 34 mins til the open
[08:55] <traderxy> GM Jay, GM All
[08:55] <Jay> morning txy
[08:57] <ho11ycat> gm all
[08:58] <Jay> morning hcat
[08:59] <ddog> gm hc
[09:08] <Jay> spy coiled near the weekley lower bbs
[09:16] <Jay> as i said, keep an eye on JPM as the stabilizer
[09:16] <Jay> 39.55 is daily lower bbs if it inverse pups
[09:16] <Jay> on spy 126.75 and 126.45 are the key supports
[09:16] <Jay> 126.45 is daily 200
[09:21] <Jay> bmy gap up on phase 3 results
[09:21] <Jay> pfe gap as well
[09:22] <Jay> bmy gapping above its monthly upper bbs at 29.11
[09:22] <Jay> 29.77 is the weekly upper bbs
[09:22] <MadDog> gm Jay, traders
[09:23] <MadDog> CV new unsolicited offer, no price mentioned
[09:23] <Jay> morning md
[09:23] <gander> hello md
[09:24] <Jay> bmy gap looks excessive so may pare into shorrts
[09:24] <Jay> TRADING ALERT: Consdier a SHORT BMY 29.50 - Always use a protective stop loss!
[09:24] <Jay> will look to ADD near 29.70-39 and 30-30.20 levels IF they pop it
[09:25] <MadDog> gm g
[09:26] <Jay> 29.30s will look to CLIP/pare if it sells off the open
[09:26] <Jay> 29.30s-29.20 area
[09:27] <ddog> gm md
[09:28] <Jay> 5/15 min mini in upps on bmy
[09:28] <MadDog> gm dd
[09:28] <Jay> TRADING ALERT: BMY CLIP/pare 39.35-29.26
[09:28] <Jay> leeeens
[09:28] <Jay> 29.20s
[09:28] <Jay> TRADING ALERT: BMY LOCK OUT 29.21-29.15
[09:28] <Jay> 29.11 is weekly support upper bbs
[09:29] <Jay> perfect
[09:29] <Jay> anyone nail some??
[09:29] <deadcat2> got it for .28 on light shares
[09:29] <Jay> sweet dcat
[09:29] <Jay> that was was too tempting to wait for after the open
[09:30] <Jay> spy leans off the open
[09:30] <Jay> on 5 min inv pup
[09:32] <Jay> just watching here no no rush to step in here
[09:32] <crisopolis> gm jay, md, ts, g, dd, all :)
[09:32] <Jay> watch jpm
[09:32] <Jay> morning cris
[09:33] <Jay> watch the 5min 5
[09:33] <Jay> on spy coils to see if they wiggle it
[09:33] <Jay> 127.04
[09:33] <Jay> or hold it firm like yesterdy last 30 mins
[09:33] <emhoga> kck2026151817358290
[09:34] <Jay> 5min 5 tests
[09:34] <MadDog> gm cris
[09:34] <emhoga> oops :)
[09:34] <emhoga> gm all
[09:34] <Jay> lol em
[09:34] <Jay> morning
[09:34] <Jay> bbby showing some resiliecy
[09:34] <Jay> on earnings
[09:35] <Jay> TRADING ALERT: Consdier a SHORT SPY 127 - Always use a protective stop loss!
[09:35] <Jay> 127-127.05 ok
[09:35] <Jay> watch JPM
[09:35] <Jay> rug pulls on jpm
[09:35] <Jay> spy should follow
[09:35] <Jay> 126.91-.88 CLIP/pare -- .75 is support
[09:36] <Jay> 126.85 key break on spy
[09:36] <Jay> 1 min 5
[09:36] <Jay> TRADING ALERT: SPY CLIP/pare 126.92-126.87
[09:37] <Jay> another lean here
[09:37] <Jay> CLIP PARE
[09:37] <Jay> 127.12 trail stop if paring
[09:38] <Jay> TRADING ALERT: SPY LOCK OUT
[09:38] <Jay> take final scalps here
[09:38] <Jay> slips
[09:39] <Jay> 1 min slip 5min inv pup but so close to supports here
[09:41] <Jay> doh..
[09:41] <Jay> weekly lower bb tests 126.45 is the daily 200
[09:41] <Jay> kept profit stop too tigh t
[09:42] <emhoga> yea but u got us green jay, thx :)
[09:43] <Jay> tx em. true, it could coil like a spring
[09:43] <Jay> at any level down here
[09:44] <Jay> interestingly even tho spy making new lows seeing lots of stocks recover off lows
[09:44] <Jay> bbby wow
[09:44] <Jay> aapl and qcom no where near their lows
[09:45] <Jay> even ffiv up off lows, ibm up offf lows
[09:45] <Jay> but tht can change
[09:45] <Jay> if spy takes out weekly lower bbs or daily 200
[09:45] <Jay> bbby stuck a fork in the bears
[09:46] <gander> +.25 amzn long
[09:46] <Jay> wtg g
[09:46] <gander> first trade--tks J
[09:46] <Jay> nice g
[09:47] <MadDog> SRLs 4.25 offer from MSMB Cap Mgmt
[09:48] <Jay> SPY weekly lower bbs like the 2 peanuts walking down the street
[09:48] <Jay> getting assaulted
[09:49] <Jay> a salted
[09:49] <Jay> lol
[09:49] <Jay> just on the sidelines here
[09:49] <ddog> : )
[09:49] <Jay> 131.62 is weekly lower bbs on spy and 126.43 is daily 200
[09:49] <Jay> so far, they haventt wiggled that 5min 5 period ma
[09:50] <Jay> identical pure selling like last 30 min syesterday
[09:50] <Jay> but nearing very crtitical supports
[09:53] <gander> arg--missed amzn that time
[09:54] <gander> surprised FFIV not down more
[09:54] <gander> and CRM
[09:55] <Jay> yes g
[09:55] <Jay> qcom, aapl
[09:55] <Jay> sbux
[09:55] <gander> y
[09:55] <Jay> that one never dies anymore
[09:56] <MadDog> AAPL kinda buyfade-y
[09:57] <Jay> spy coiled off daily 200
[09:57] <Jay> watch 5min 5
[09:57] <Jay> TRADING ALERT: Consdier a BUY SPY 126.75 - Always use a protective stop loss!
[09:57] <Jay> 5min stoch cross up trying 126.71-126.65 ok
[09:58] <Jay> 1 min mini pu poscillation
[09:59] <Jay> watching 1 min
[09:59] <Jay> needs to mini pup here back thru 12.70
[09:59] <Jay> for 1min mini pup
[10:01] <Jay> 126.85-126.90 is upside resistance so CLIP/pare near there
[10:01] <Jay> 1 min mini pup thrusts
[10:02] <Jay> 126.83-126.90 clip/apre thrust
[10:02] <Jay> TRADING ALERT: SPY CLIP/pare 126.83--126.90
[10:02] <Jay> sweet thrusts here
[10:02] <Jay> 1min 50 at .88
[10:02] <Jay> 1 lat mini pup thrust here thru 80 band on SPY
[10:03] <Jay> TRADING ALERT: SPY LOCK MOST on this THRUST!!
[10:03] <Jay> TRADING ALERT: SPY LOCK OUT 126.85+
[10:03] <Jay> 126.83-126.87
[10:03] <Jay> better safe than sorry
[10:04] <Jay> 126.90s
[10:04] <Jay> take the $$$
[10:04] <Jay> and RUN!
[10:04] <Jay> for your LIFE!!
[10:04] <Jay> haha
[10:04] <gander> lol
[10:04] <deadcat2> out at .92 from .69 :)
[10:04] <Jay> feel like we are snatching purses here
[10:04] <Jay> wtg dcat
[10:04] <emhoga> +.81 on TNA, thx jay :)
[10:04] <Jay> saweet em
[10:04] <gander> nice dc
[10:05] <gander> wtg em
[10:05] <Jay> slowing it down now 15min 5 tests her eon spy
[10:05] <emhoga> that sucker moves quick lol
[10:05] <dodge> aapl short +.40
[10:05] <Jay> funny ho w the techs rallied ahead of spy and jpm
[10:05] <Jay> way ahead
[10:05] <dodge> Morning all --- :-)
[10:05] <Jay> morning d
[10:05] <gander> hi d
[10:05] <gander> wtg
[10:06] <Jay> this is the 3rd time SPY coiled off the daily 200
[10:06] <MadDog> in the daily scan for The Next iPhone Rumor
[10:06] <Jay> in the last 2 weeks
[10:06] <gander> clock in next time d--before your first profit
[10:06] <MadDog> turns out there's 1m jail-broken iPhone 4's in use on the T-Mobile network
[10:06] <Jay> no rush to step into anything here
[10:06] <gander> or we will think you are just loafing
[10:06] <MadDog> http://www.zdnet.com/blog/mobile-news/over-a-million-iphones-in-use-on-the-t-mobile-network/3019
[10:07] <Jay> 1 min getting toppy so now we want to see how the 5min 5 holds on 1 min oscillations back down
[10:07] <Jay> 126.76 is 5min 5 on spy
[10:08] <dodge> lol g
[10:09] <gander> crm positive
[10:09] <Jay> aapl at highs
[10:09] <Jay> heck of a bounce off lows
[10:10] <Jay> kkd highs
[10:10] <Jay> do those guys sell coffee too?
[10:11] <gander> lol
[10:11] <MadDog> iDonut
[10:11] <Jay> lol
[10:12] <Jay> spy 1 min peaks, time to see what the bulls got
[10:12] <Jay> if they can hold taht 5min 5
[10:12] <Jay> 126.74
[10:12] <Jay> now 126.82
[10:13] <Jay> this is like waiting for a car crash.. gonna close my eyes
[10:14] <Jay> lol
[10:14] <Jay> not sure what got into kkd, was lighting up my scanner in the 8.90s but no news
[10:14] <Jay> airlines strong
[10:14] <Jay> DAL, UAL,
[10:15] <Jay> probably has to do with oil
[10:15] <Jay> jblu up also
[10:15] <Jay> ccl up
[10:15] <Jay> cruise chips use a ton of oil
[10:16] <Jay> fyi extra 60 mil barrels of oil being released from surplus daily
[10:16] <MadDog> YOKU ceo coming on CNBC soon, rumor of a content deal with NFLX
[10:18] <Jay> the nflx instant watch layout change is horrible
[10:19] <Jay> probably a good move to cut bandwidth
[10:19] <MadDog> do people really use theri streaming service that much?
[10:19] <MadDog> their
[10:20] <Jay> yes. i use it daily
[10:20] <Jay> thru playstation 3
[10:20] <MadDog> I'm addicted to HD
[10:20] <Jay> but instead of being ablve to see like 40 titles, you only see 6 at a time on the new layout sideways, burdensome
[10:21] <MadDog> hmm not good
[10:21] <Jay> also i heard they lost sony content
[10:21] <Jay> not sure where have to confirm but its old news, maybe has something to do with starz
[10:21] <Jay> spy puke
[10:21] <Jay> that 1min mini inv pup sliced thru the 5min 5 like butter
[10:21] <Jay> sheesh
[10:22] <Jay> this is nutty today
[10:22] <Jay> so many techs are up
[10:22] <Jay> way off lows
[10:22] <Jay> as spy gets killed
[10:22] <Jay> wow
[10:22] <Jay> back to daily 200
[10:23] <Jay> compass is off today
[10:24] <Jay> disconnect with the indexes/futures and equities at least sectorwise
[10:25] <gander> I keep missing that AMZN both ways
[10:25] <gander> he must be in better shape than me
[10:26] <Jay> watching ctxs
[10:26] <Jay> TRADING ALERT: Consdier a BUY CTXS 76 - Always use a protective stop loss!
[10:26] <Jay> 76.05 ok
[10:27] <Jay> cloud sector strong this morning
[10:27] <Jay> CRM<FFIV< RVBD
[10:27] <Jay> CTXS laggard but daily now trying to mini pup back up thru the 5 period ma
[10:28] <Jay> 76.20-.30 clip/pare , 76.50 is 60 min 5/15 resistance level and tightening best target
[10:28] <Jay> even rvbd is up
[10:28] <Jay> ctxs laggard
[10:31] <Jay> TRADING ALERT: Consdier a SHORT SPY 126.52 - Always use a protective stop loss!
[10:32] <Jay> 5 min mini inv pup attempts
[10:32] <Jay> ctxs back to cash if not clipped-
[10:33] <tsoukos7> the early exit king did it again! got out of bidu short at 124.94 for a +.49
[10:34] <Jay> get over it
[10:34] <ddog> very nice green is green
[10:34] <tsoukos7> is now 124.21
[10:34] <Jay> 5/1 min dual mini inv pup slips
[10:34] <Jay> ts seriously get over it
[10:34] <Jay> be glad ur early and not late
[10:34] <Jay> daily 200 coming up
[10:34] <Jay> panic at daily 200
[10:35] <Jay> 126.25 is coil support
[10:35] <Jay> 126.23 i mean
[10:35] <Jay> CLIP/apre leans under 126.40 - .34
[10:38] <Jay> 5min 5 at .57 needs to slip there
[10:38] <Jay> then .52 the 1min 5
[10:41] <Jay> 5min miniinv pup 1 min INV pup
[10:43] <Jay> TRADING ALERT: SPY Clip/pare 126.26-126.30
[10:43] <Jay> 126.33-126.26
[10:43] <Jay> here trim
[10:43] <Jay> getting very close to spy daily 200 BREAKING POINT if 126.17 cracks so trim out MOST on this lean
[10:45] <Jay> 5 min mini inv pup slipping thru 20 abd 1 min mini inv pup thru 20 band --- on SPY climax lean here
[10:45] <Jay> TRADING ALERT: SPY TRIM OUT MOST
[10:45] <Jay> here we go
[10:46] <wil> gm again all
[10:46] <Jay> morning wil
[10:46] <Jay> 126.23 is the critical - .20 coil support on SPY
[10:47] <wil> SPY looks like it wants to breakdown further on 1 min chart, but at the low of a week ago as well for possible double bottom on dailey chart
[10:47] <Jay> 126.44 is spy 5min 5
[10:48] <Jay> FINAL 1 min low band mini inv pup slip here
[10:48] <Jay> here we go ----
[10:49] <Jay> TRADING ALERT: SPY LOCK OUT the rest
[10:49] <wil> possibility for slight div bottom spy 15 min
[10:49] <Jay> no longs just waiting out the 1min coils
[10:49] <Jay> since so oversold
[10:49] <Jay> right wil
[10:50] <wil> will take 30 min to so to confirm the 15 min div bot
[10:50] <Jay> that spy lean did affect the techs
[10:51] <Jay> on spy that .23 was coil suppo rton the daily 200
[10:52] <Jay> but the .18 is always the DEFACTO coil support down
[10:52] <Jay> and notice the low of the day 126.19
[10:52] <Jay> 1 tick shy
[10:52] <Jay> from collapse
[10:53] <wil> missed the d 200... do not show that on dailey chart...the d233 is about 123.8
[10:54] <wil> need to add d200 to my charts i guess
[10:55] <Jay> umm yes wil
[10:55] <Jay> lol
[10:55] <Jay> all eyes are on it so it is significant
[10:55] <Jay> qcom has been resilient
[10:55] <Jay> spy pop back thru daily 200 and 5min ma
[10:55] <Jay> next bumper is the 15min 5 again
[10:55] <Jay> 126.65
[10:55] <Jay> pinball
[10:56] <Jay> bumper to bumpers
[10:56] <Jay> with the stochs
[10:56] <Jay> 1 min mini pup oscillation up
[10:56] <Jay> good final cover on the spy 126.20s that 1min stochs was soo low band any cross up thru 20 band susceptible for spikes
[10:57] <Jay> musical chairs
[10:57] <Jay> chairs disappear quick
[10:57] <Jay> when stochs turns
[10:59] <wil> closed 1/2 of SPY calls from touch or 126.3...+.16
[10:59] <Jay> wtg
[11:00] <wil> eveyover chart but dailey has 200ma on it... now so does dailey... geesh
[11:00] <wil> every other
[11:00] <emhoga> out CTXS +.07 after a nasty ride
[11:01] <Jay> wtg em
[11:01] <Jay> u didnt stop out ealier?
[11:01] <wil> spy stuck at 1 min 75ma (5/15)
[11:01] <emhoga> lol no the fedex delivery man ran over my sprinkler heads so was screwing with that then came back inside and it had tanked, my bad :-/
[11:02] <Jay> initially the spy short was a hedge on ctxs
[11:02] <Jay> but then noticed ffiv and aapl getting whacked
[11:02] <wil> spy 15 min div bottom has formed ... needs a good ip candle to confirm
[11:02] <Jay> so thats why said to stop out if u didnt clip it
[11:02] <Jay> so we could ride down that spy
[11:02] <emhoga> yea i was already outside barking at the fedex guy by then
[11:03] <Jay> ctxs , vmw, ffiv, these are slippery stocks that can oscillate very big moves
[11:03] <Jay> and wide spreads
[11:03] <wil> if it confirms, then i hold spy calls remaining thru one oscillation up
[11:03] <Jay> so make sure that you allcoate it properly
[11:03] <wil> em... get a dog for barking at FEDEX, UPS, etc.
[11:04] <Jay> very strange action today.. overall techs not really giving it up
[11:04] <emhoga> well when he got out of the truck after i flagged him down, he stood for about 20 secs. in some texas red fireworks so he got his due :)
[11:04] <wil> in our neighborhood, the UPS stands for "United Puppy Smashers"... lots of dogs smashed by them.... including our pet...
[11:04] <emhoga> fire ants lol sorry :)
[11:04] <Jay> lol
[11:04] <emhoga> then he did the river dance :)
[11:05] <wil> lol
[11:05] <Jay> the question on the fades is whether there is followthru accumulation or just fading to be sold into the bounces
[11:06] <Jay> best to only cosider stocks that have 60 min stochs crossed UP
[11:06] <Jay> so u are protected
[11:06] <wil> nice drop and bounce on GOOG 10 min ago... missed it.
[11:07] <wil> aapl and bidu not really effected by markets today
[11:07] <wil> ggog has been contrained by 1 min 75ma this morning... back there again now
[11:07] <wil> goog
[11:07] <Jay> rvbd highs
[11:08] <Jay> someone pls hollar if vmw 60 min stochs corrses back up , not completely safe to play now with stochs down as posslbe mini inv pup can form
[11:10] <Jay> 92.79 and 92.50 are the daily 5 and 60 min 50 period ma , but non of that matters with 60 min stochs still not crossed up
[11:10] <Jay> rvbd a good example of the protection provided by a 60 min stochs crossed up
[11:11] <Jay> 1 min stochs spy peaks
[11:12] <wil> the support this morning on aapl was the d233 (again)
[11:14] <Jay> so far they have muffled that 15min stochs on SPY crossing the 20 band
[11:14] <wil> slv back to d144 (nearly) which has supported slv for 2 months
[11:15] <wil> time is running out for the Long candle on SPY 15 min to confirm the div bottom in that time frame
[11:17] <wil> sometimes DIA is the "real" support for markets... the d200 for it is 117.6 today
[11:19] <gander> wil put on his professor hat this morning
[11:19] <gander> rather than his confessor hat
[11:21] <Jay> slowing it down. the disconnect with the spy and techs is odd
[11:22] <gander> very
[11:22] <ddog> very very
[11:22] <Jay> and dangerous too
[11:23] <Jay> its very transparent now
[11:24] <gander> although this down market seems to be led by the oils
[11:26] <Jay> rvbd highs
[11:26] <Jay> keep an eye on vmw
[11:26] <wil> if spy can hold d8 at 126.63, then cad maybe complete the div bot 15 min oscillation.. the signal is intact
[11:26] <Jay> TRADING ALERT: Consdier a BUY VMW 94 - Always use a protective stop loss!
[11:27] <wil> if spy can hold above 126.63, i meant
[11:27] <Jay> get a pullbacks 94-93.80s
[11:28] <Jay> 60 min just crossed on vmw
[11:28] <Jay> 94.10 OK
[11:28] <Jay> 60 min 15 at 94.47
[11:29] <Jay> CLIP/pare 94.35-94.45
[11:29] <Jay> 5 min spy mini pup thrusts 15min mini pup thru 20 bands
[11:29] <Jay> SPY rallying
[11:29] <wil> close 1/2 of remaining spy calls. +.18
[11:30] <wil> spy at 15 min ubb
[11:31] <Jay> SPY GRINDS HERE
[11:32] <wil> (jay all caps... i think he needs to relax)
[11:32] <Jay> 1 min hi band mini pu thrust SPY
[11:33] <Jay> VMW 1 min hi abd mini PUP THRUST pepper the scalps into the pops up ot 94.47
[11:34] <Jay> 126.98 is 60 min 5 on spy
[11:34] <Jay> TRADING ALERT: VMW 94.40-94.50 CLIP/pare
[11:34] <Jay> 1 min mini pup
[11:34] <Jay> thrusts
[11:34] <Jay> 94.50 upper bbs
[11:34] <wil> closed rest of SPY calls.. +.25
[11:35] <Jay> tell me u guys clipped into the pops for crissakes and not chase the bid
[11:36] <wil> likely should have held for completion of 15min oscillation, but sold at 1 min 233ma instead
[11:36] <Jay> spy peaked right off the 60 min 5
[11:36] <Jay> but that should have been expected
[11:36] <Jay> which is why you need to be selling INTO THE POPS
[11:37] <wil> yup
[11:37] <wil> did
[11:37] <Jay> for crissakes not wait for it o hit 5min 200 then panic out
[11:37] <Jay> with everyone
[11:37] <wil> gotta break fro some other work
[11:37] <Jay> take care wil
[11:37] <Jay> vmw 1 min coil here for apup thrust
[11:37] <Jay> im talking about vmw, wil
[11:38] <gander> wil works
[11:38] <Jay> i got a feeling bunch of noobs waited and then paniced on the bid which just the mms all stepped off
[11:38] <gander> til Jesus comes
[11:38] <deadcat2> wasn't me :)
[11:38] <wil> g... I WORK MY ARSE OFF
[11:38] <Jay> mms all pulled to 94.11 to panic out the amateurs
[11:38] <wil> sorry... Jay got me started on all caps
[11:38] <Jay> irritating
[11:39] <Jay> thats why u SELL into the pops guys
[11:39] <Jay> not wait for the 1min to peak as spy peaked at the known ressitance 60 min 5 and then panic like peckerheads
[11:40] <Jay> 60 min 5 is the ultimat resistance her eon the spy
[11:41] <Jay> VMW if anyone still pared LOCK the POP HERE
[11:41] <Jay> 1 min pup thrusts
[11:42] <Jay> TRADING ALERT: VMW LOCK OUT
[11:42] <Jay> 1 min pup thrust 15min upper bbs tagging ang and stinky 5sw
[11:42] <Jay> that 1min lone volume bar hilarious
[11:45] <Jay> qcom has been amazingly resilient off the open that 15min 5 pure grind off lows
[11:45] <Jay> anyway 60 min 5 resistance on the spy
[11:47] <Jay> the banks are sucking the worst today , likely whats depressing the spy the most
[11:48] <Jay> the real question is do they start to fade the techs if 60 min 5 breaks on spy
[11:48] <Jay> thats why its important .. whatever stock you are watching, watch a peer or two in that sector
[11:48] <Jay> gives u a better read
[11:49] <Jay> for the last time, FFIV, CRM, VMW, RVBD, CTXS, EQIX cloud sector
[11:49] <Jay> thats how u gauge a measuring stick
[11:49] <Jay> as to whats leading and whats lagging
[11:50] <Jay> failing that, just jumping into alerts on the whim, u are the last man on a slippery totem pole
[11:50] <Jay> watch the sector and you get a good feel
[11:50] <Jay> wider line of sight
[11:51] <Jay> as much as we try to keep things simple and only watch one stock only.. that puts you at a disadvantage
[11:51] <Jay> everything is connected in the markets
[11:51] <Jay> synergy
[11:52] <Jay> futures/indexes/sectors/leaders to laggards
[11:52] <Jay> once you understand that it is one big machine
[11:52] <Jay> and see it as a whole.. then you can spot the divergences
[11:53] <Jay> market is not perfect
[11:53] <Jay> i hate when morons say the market has priced something
[11:53] <Jay> or market is always right
[11:53] <Jay> thats some stupid sh*T
[11:53] <Jay> market will always TEND to align itself.. or get it right
[11:53] <Jay> if it was right.. there wouldnt be a market
[11:54] <Jay> the discrepancies is where you make the money
[11:54] <MadDog> now THAT'S a sound bite I'd like to see on CNBC
[11:54] <Jay> the laggards
[11:54] <Jay> when leaders pop hard
[11:54] <Jay> and laggards are just starting to
[11:54] <Jay> thats when you make MONEY
[11:54] <Jay> leaders tank
[11:54] <Jay> laggards stall
[11:54] <Jay> nail the laggards
[11:56] <Jay> anyway
[11:56] <Jay> dont want to read tooo much into the leaves here
[11:56] <Jay> lol md true
[11:57] <Jay> one last thing
[11:57] <Jay> the reason i get p*ssed about stocks like a VMW
[11:57] <Jay> if u see that big arse 1 min volume bar
[11:57] <Jay> right after i called the CLIP/pare alert
[11:58] <Jay> triggers some of you to sell indiscbrinately
[11:58] <Jay> god forbib a market order
[11:58] <Jay> and mms just stepped right off
[11:58] <Jay> to the 5min 5
[11:58] <Jay> and then stepped right back in
[11:58] <Jay> that was not necessary
[11:58] <Jay> which is why i keep mentioned to trim into the pops etc..
[11:59] <Jay> if the liquidity is there i call the exits assuming there is enough liquidity to sell into
[11:59] <Jay> problem is when the liquidity is thinner
[11:59] <Jay> it can cause that EXACT type nonsense
[11:59] <Jay> uncessary whiplash
[11:59] <Jay> everyone loses on that
[12:00] <Jay> the experienced traders who are peppering out into liquidyt get scrwed
[12:00] <Jay> the noobs panic out indiscriminately
[12:00] <Jay> and lose
[12:00] <Jay> at the worst prices
[12:00] <Jay> and the market resumes
[12:00] <Jay> so my point is be prepared and try to educate yourself
[12:00] <Jay> at the very least know what the mini pup is and the targets
[12:01] <Jay> and learn to sell EARLY --- piece it into liquidity
[12:01] <Jay> in a down market LIQUIDITY overrides price
[12:01] <emhoga> spy nice grind going
[12:01] <Jay> that means--- if there is a mini pup that means upper bbs is a target
[12:01] <Jay> but in a falling market
[12:01] <Jay> everyone watching that or the next bumper
[12:01] <Jay> so you discount the exit
[12:02] <Jay> ahead of the bumper
[12:02] <Jay> and sell into the pop
[12:02] <Jay> i hope this makes sense
[12:02] <Jay> and tsoukas, not to pick on you, my friend.
[12:02] <Jay> but understand. bidu is the LAST STOCK
[12:02] <Jay> you should ever complain about
[12:02] <Jay> getting out EARLY
[12:02] <Jay> with a profit
[12:03] <Jay> at least you got profit and liquidity
[12:03] <Jay> when u take profits 'early'
[12:03] <wil> spy nearing completion of the 15 min oscillation after the div bottom...will likely complete in 10 min or 25 min; perhaps even make it as high as 15/15 which is (127.3 ish)
[12:03] <Jay> consistently
[12:03] <Jay> what does that mean?
[12:04] <Jay> it means you are mastering the SKILL of spotting the liquidity
[12:04] <Jay> in a rising market no worries
[12:04] <Jay> in a falling market
[12:04] <Jay> only the ones who can work liquidity will survive
[12:04] <Jay> if u get out 'early' most of the time times
[12:04] <Jay> thats GOOD
[12:04] <Jay> why?
[12:05] <wil> my grand daughter is 2.5 and still in diapers 1/2 the time... the other 1/2 of the time we are watching for Liquidity
[12:05] <Jay> beacuse once you master the art of spotting and playing liquidity
[12:05] <Jay> then you can make REAL MONEY
[12:05] <Jay> but SCALING UP SIZE
[12:05] <Jay> thats the goal
[12:05] <gander> lol wil
[12:05] <Jay> not crying about taking a .20 scalp on 200 shares as it popped .60
[12:06] <Jay> but being able to scale 2000 shares consistently on the .20 pops
[12:06] <Jay> get the picture??
[12:06] <Jay> thats where $$ is made
[12:06] <Jay> in scaling
[12:06] <Jay> allocation
[12:06] <Jay> and most importantly
[12:06] <Jay> liquidity
[12:06] <wil> just trying to make Jay's point relavent on other issues... i think i missed though
[12:06] <Jay> BE EARLY
[12:06] <Jay> never LATE
[12:06] <Jay> EARLY IS GOOD
[12:06] <Jay> its GREAT
[12:06] <wil> early is good
[12:06] <Jay> get up early
[12:07] <Jay> hell dont go to sleep
[12:07] <wil> on boths kinds
[12:07] <Jay> haha
[12:07] <Jay> ok nuff said. taking a deadzone break
[12:07] <Jay> will be back later
[12:07] <wil> whew
[12:07] <emhoga> yep, thx jay :) i sure am a small fish when i see you talking 2000 shares, but my trade sizes match up with my lack of time trading at this point
[12:07] <traderxy> loved it!!!
[12:07] <Jay> em.. never ever ever RUSH
[12:07] <Jay> the size
[12:07] <Jay> NEVER
[12:07] <Jay> start small
[12:07] <Jay> get consistent
[12:07] <Jay> thats it
[12:07] <emhoga> yea i don't i play really small now just for the education of it
[12:08] <Jay> eventually you will get it going automatically
[12:08] <wil> size matters... after you have the rythym, that is
[12:08] <Jay> it doesnt mean that you can play every move or everything should click
[12:08] <Jay> but after a while
[12:08] <Jay> like a domino effect
[12:08] <Jay> certain things tip over
[12:08] <Jay> triggering the trade
[12:08] <Jay> because u are so familiar with it
[12:09] <Jay> the BY PRODUCT is the reward
[12:09] <Jay> keep that in mind
[12:09] <Jay> the REAL REWARD
[12:09] <Jay> is never obvious
[12:09] <Jay> NEVER transparent
[12:09] <Jay> just like our discussion here
[12:09] <Jay> all new traders think
[12:09] <Jay> its a game where u buy low and sell hi
[12:09] <Jay> and watch only 1 stock
[12:09] <Jay> no...
[12:10] <Jay> ultiamtely its a game of allocation
[12:10] <Jay> and liquidity
[12:10] <Jay> management
[12:10] <Jay> timing the high PRECISION moves
[12:10] <Jay> with the right leverage to maximize gains while minimizing downside
[12:11] <Jay> guys, dodge has been with me for almost 10 years
[12:11] <Jay> he has a handful of stocks he watches and sectors
[12:12] <Jay> and he has a bread n butter trade where he hits exhaustions or reversals with size
[12:12] <Jay> for smaller point gains
[12:12] <Jay> but he knows it aint about getting a 2point pop on aapl with 100 shares
[12:12] <Jay> if thats the goal, you will be dissappointed most of the times
[12:12] <Jay> a .08-.15 scalp x 500-2000 shares
[12:12] <Jay> u get that a lot more
[12:13] <Jay> but it takes experience and patience
[12:13] <Jay> doesnt happen overnight
[12:13] <Jay> sorry d, didnt want to put you on the spot ;)
[12:13] <MadDog> probably looking for squirrels
[12:14] <Jay> but its always good to specialize a bit, watch interrelated stocks
[12:14] <Jay> when starting otu
[12:14] <Jay> or even if your not
[12:14] <Jay> and go from there , you get a lot more info
[12:14] <Jay> lol md
[12:14] <Jay> ok gonna take a break
[12:14] <Jay> dont overtrade
[12:14] <Jay> booyah
[12:14] <Jay> puke
[12:18] <MadDog> if you guys wanna help a MadDog out with something
[12:18] <ddog> what u got md?
[12:18] <MadDog> I've entered a contest to caddy for Davis Love at a tournament in October
[12:18] <MadDog> starting this Sunday 6/26 you can vote for me
[12:19] <MadDog> If you go to this site: http://mullen.promo.eprize.com/caddie/gallery
[12:19] <MadDog> I'm currently on about Page 7
[12:20] <MadDog> Mark J from San Mateo (not Mark J from Laramie WY which I've already seen
[12:20] <MadDog> gazillion people trying for it
[12:20] <MadDog> heck, try it yourself
[12:21] <MadDog> or if not, vote for me :-)
[12:21] <ddog> I'll vote for you md... you got it
[12:21] <MadDog> thx dd
[12:21] <gander> so it is a popularity contest
[12:21] <gander> ?
[12:21] <dodge> I was looking for squirrells - lol
[12:22] <MadDog> knew it
[12:22] <ddog> any info about how many email addresses can be used or mobiles?
[12:22] <MadDog> g I think it's partial
[12:22] <MadDog> obviously if some good looking gal is on there
[12:22] <MadDog> she's gonna get a lot of user votes
[12:23] <MadDog> but then I think the committee looks through the rest
[12:23] <MadDog> they're going to narrow it down to 26 finalists
[12:24] <MadDog> dd not sure
[12:24] <ddog> I'll check it out no worries
[12:24] <MadDog> but if you want you can enter the non-cady sweeps every day
[12:24] <MadDog> caddy
[12:25] <MadDog> nice set of clubs
[12:26] <wil> SPY full oscillation on 15 min complete 14 mins ago
[12:27] <wil> ; the max gain was .1 on options higher than the exit at 1 min 233ma
[12:29] <wil> but such div bottoms should NEVER be played longer than completion (barely) of one full oscillations... ESPECIALLY when the stochs part of the div bottom is very shallow... then it is best to close at the major MA or other major resistance levels... FYI
[12:30] <wil> GOOG nearly back to lod
[12:31] <MadDog> well a few days into the 30-day trial, Newzblitz sure seems useless
[12:31] <MadDog> not sure how they can justify $99/month for something briefing and fly do much better at for a lot less
[12:32] <MadDog> obvously for those who watch news plays it only takes one
[12:32] <MadDog> but I haven't seen that yet for sure
[12:36] <gander> remind us on the voting tomorrow md
[12:36] <gander> we will be happy to do it
[12:38] <MadDog> ok thx g
[12:38] <dodge> ditto-
[12:40] <dodge> Ken Fisher is such a strange looking guy - Bloom
[12:40] <MadDog> Ken Fisher on Bloomberg, what a shyster
[12:40] <MadDog> tries to act like he's a savior of wall street
[12:40] <wil> i need a caddy for my flyrod next time i hit the mountain streams (next week)... you want to audition for that role MD?
[12:40] <MadDog> and runs one of the most aggressive money mgmt outfits
[12:41] <dodge> nk-
[12:41] <gander> Ken has a bunch of sales people in a room on the phone to high net worth people
[12:41] <gander> trying to get them to put money with him
[12:41] <MadDog> wil too bad booboo's not around
[12:41] <MadDog> he could not only carry it
[12:41] <gander> and their advisor firm
[12:41] <MadDog> but use it to land about 6 record brown's before your head could spin
[12:41] <gander> and he stands in the background swearing at them
[12:41] <MadDog> exactly g
[12:41] <gander> and demeaning them constantly
[12:42] <gander> but he acts so holy and righteous in front of the media
[12:42] <MadDog> yep
[12:42] <MadDog> stop-losses do not work
[12:43] <MadDog> tell that to YHOO investors
[12:43] <dodge> lol
[12:43] <MadDog> jackass
[12:43] <gander> I knew several times when he would get large accounts given to him by brokers
[12:44] <deadcat2> anyone read how GS was managing libya's sovernge debt and lost 98% of it?
[12:45] <MadDog> wow dc, that might be classified as covert activity in the nation's interest
[12:46] <deadcat2> it only took them a few years to do it
[12:50] <dodge> oih and dia grind
[12:51] <wil> SPY 377ma on 1 min is at 127.27...may stall there... but 15 min spy may form a mini pup and pup soon also...
[12:51] <wil> gotta catch a plane (story of my life)...trade well all
[12:51] <gander> and after a few months, would recommend the client move away from giving the commissions to that broker
[12:51] <gander> sorry, was on the phone
[12:57] <dodge> aapl strong
[12:58] <MadDog> going to be interesting to see what happens with AAPL as it appraches its daily 15
[12:58] <MadDog> approaches
[12:58] <MadDog> firt time back there since the breakdown 2 weeks ago
[12:58] <MadDog> first
[13:01] <MadDog> NFLX ceo named to FB board of dir
[13:01] <dodge> not sure it is strong enough to break through
[13:01] <MadDog> kaboing
[13:01] <MadDog> maybe not first time
[13:01] <dodge> 328.35
[13:01] <MadDog> I'm thinking over a day or 2 time frame
[13:02] <MadDog> this seems all futures driven right now
[13:03] <dodge> agree - strong shift
[13:04] <dodge> noodles positive now
[13:19] <dodge> CMI short +.18, +.16
[13:21] <dodge> puts me right at dg :-)
[13:21] <dodge> now if only XOM didn't suck today I would be happy
[13:22] <MadDog> speaking of
[13:22] <MadDog> did Obama OK release of oil from strategic oil reserve?
[13:22] <deadcat2> he sure did
[13:22] <MadDog> if so, why?
[13:22] <MadDog> lol
[13:22] <deadcat2> a whole 2 days supply
[13:23] <deadcat2> he's da king... thats why.... 89 and libya being down 1.5 mil per day
[13:23] <dodge> yes - he's buying votes
[13:23] <MadDog> ok, thats what I get for thinking logical
[13:25] <deadcat2> in a world of "extend and pretend ponsi", that is as logical as you can get
[13:34] <deadcat2> 2x dg. including 1 trade that I should not have been in. I'm going to find something else to do for the rest of the day. weeeee
[13:35] <dodge> wtg dc---
[13:35] <deadcat2> I am getting better. just have to remember to not give it back after I make it.
[13:35] <Jay> wtg dcat!
[13:36] <Jay> very noticeable improvements :) and you just mentioned the golden rule... that is, dont give back the gold ;)
[13:36] <MadDog> wtg dc
[13:37] <Jay> nice spy grind to the 60 min 15 dont want to be chasing anything here
[13:37] <deadcat2> trading computer is turned off. I will leave this computer on, but go and enjoy the nice day. have fun all!
[13:37] <Jay> take care dc
[13:42] <Jay> last 45mins will tell us if daily is trying to mini pup or inv pup
[13:43] <Jay> dont get too worn out or chopped before then
[13:43] <Jay> rvbd pretty hard peak on that 5 min
[13:44] <Jay> one of those rare spy vs qqq divergence days for sure
[13:48] <Jay> 15 min 5 test on spy
[13:50] <wil> hi again... doors not closed yet... see the spkie on NFLX? 3% in 6 min? someone rumorred to buy then or what?
[13:51] <Jay> TRADING ALERT: Consdier a SHORT RVBD 35.10 - Always use a protective stop loss!
[13:51] <wil> has retreat 1/3 of the jump since the spike
[13:51] <Jay> 35.05-35.10ok
[13:51] <MadDog> will, Redd Hastings was named ot the Facebook board
[13:51] <MadDog> to
[13:51] <MadDog> Reed
[13:52] <wil> so that is preemptive to perhaps a union?
[13:52] <Jay> due for a tightening , 34.86 is 60 min 5 work 1 mnin inv pup slps
[13:52] <MadDog> now just synergy
[13:52] <MadDog> for coop deals
[13:52] <wil> I thought they Facebook was better off not teaming with NLFX
[13:52] <MadDog> Facebook can;t create a NFLx on their own
[13:53] <MadDog> a;; that earlier crap was posturing
[13:53] <wil> probably true
[13:54] <wil> nice drop since the spike alsoshot above 60 min 144ma and now has dropped back to 60 min 89ma
[13:54] <MadDog> Facebook can;t develop a site that effectively goes back and forth between pages reliably
[13:54] <MadDog> no way they can develop their own streaming service
[13:55] <MadDog> what Facebook has is a huge captive list of names, and that's all they need
[13:55] <wil> (who cares about "social networking"... just for folks with nothing better to do... ooops... did i say that out loud?)
[13:55] <Jay> RVBD use 1min ocls her to fill on the shorts up to 35.12
[13:56] <wil> jay ... what is "ocls her"
[13:56] <Jay> coils
[13:56] <wil> lol
[13:56] <MadDog> Facebook synergy in action: when I saved my golf entry earlier, I had 3 Facebook friends contact me within 5 minutes and ask me how many times a day they could vote
[13:56] <wil> never would have guessed that one
[13:56] <Jay> TRADING ALERT: Consdier a SHORT RVBD 35.20s - Always use a protective stop loss!
[13:56] <MadDog> Facebook just needs to make sure those connections work right, and keep the list alive, and let everyone else do what they do well
[13:57] <Jay> add here ok looking for a 15min mini inv pup tightening
[13:58] <Jay> on 1min peaks, work liquidity leans back thru 35.03-34.95
[13:59] <wil> gotta go... see ya'll Friday or Monday or tuesday... not sure which. Trade well.
[13:59] <Jay> spy 5min trying to miin inv pup if 1min slips
[13:59] <Jay> here we go spy leans
[13:59] <wil> stay liquid
[13:59] <Jay> take care wil
[14:00] <Jay> 129.08 key break on spy
[14:00] <Jay> look for power lean if that cracks
[14:00] <Jay> here we go
[14:00] <Jay> weeeee
[14:00] <Jay> rvbd come on down
[14:00] <Jay> 34.90s trim
[14:01] <emhoga> nice one jay tks, +.21
[14:01] <Jay> TRADING ALERT: RVBD clip/pare
[14:01] <Jay> sweet em
[14:02] <Jay> watch the spy if they cross downthat 15min stochs
[14:02] <Jay> spy 5 min mini inv slipp leaning here 126.88 is next support
[14:02] <Jay> 15min 20
[14:03] <Jay> RVBD 60min 5 at .98, overshots means trim out MOST 34.92-34.83
[14:03] <Jay> TRADING ALERT: RVBD LOCK OUT MOST 34.92-34.84
[14:03] <Jay> liquidity DUMP here
[14:04] <dodge> oil stimulus will be more psychological than practical - imho
[14:04] <Jay> 1 min mini inv pup 20 band on RVBD here with 5 min nmiin inv pup
[14:04] <Jay> here we go liquidity baby leeeen
[14:05] <Jay> 1min 5 spy here is key
[14:05] <Jay> if that slips then 1min inv pup mini inv pu p
[14:05] <Jay> here we go
[14:05] <Jay> say good night
[14:06] <Jay> TRADING ALERT: RVBD TRIM OUT MOST 34.83-34.76 the 5min 50
[14:06] <Jay> into liquidity
[14:06] <Jay> here we go
[14:06] <Jay> liduity DUMP
[14:06] <Jay> thx to spy
[14:06] <Jay> lock it out
[14:06] <Jay> look at that VOLUME
[14:06] <Jay> thats liquidity guys
[14:06] <Jay> in a falling market. shorts provide it
[14:07] <Jay> dont give it away
[14:07] <Jay> watch spy 127 is tough
[14:08] <Jay> TRADING ALERT: RVBD LOCK OUT
[14:08] <Jay> spy coiled
[14:08] <Jay> tasty lunch special
[14:08] <Jay> kung pow rvbd chicken
[14:08] <Jay> lol
[14:08] <Jay> spy nice pop
[14:08] <Jay> dont tell the cloud stocks hehe
[14:09] <Jay> actually they look peaked sell fades now since 5/15min are down
[14:10] <Jay> also back to what i was saying earlier
[14:10] <Jay> rvbd part of cloud sector
[14:10] <Jay> so u coulda shorted vmw, or ffiv
[14:10] <Jay> as well
[14:10] <Jay> tho they are choppier
[14:10] <Jay> ctxs in its own world
[14:11] <Jay> sellfaded the whole rally now it decides to buy fade some
[14:11] <Jay> qcom pkeaed out earlier as well
[14:12] <Jay> once again
[14:12] <Jay> this goes back to what i was asking
[14:12] <Jay> were they juicing up the techs
[14:13] <Jay> just to sell off
[14:13] <Jay> 126.85 is overlap supports on the spy
[14:13] <Jay> 60min 5 and 15min 20
[14:13] <Jay> so best to LOCK OUT shorts if u got any still in
[14:14] <Jay> ok slowing it back down now
[14:15] <Jay> i dont want to wear us out before the last 45 min key action
[14:15] <Jay> good volume today overall but this is the liqghtest volume of the day as well
[14:15] <Jay> volume changes everything and that wave of volume in last hour
[14:16] <Jay> back to me break
[14:16] <Jay> will be back in a bit
[14:27] <Jay> gang-- i want to show you something
[14:27] <Jay> http://www.undergroundtrader.com/graphics/jay/
[14:27] <Jay> that was the RVBD SHORT ALERT
[14:28] <Jay> on the top portion of the charts is RVBD
[14:28] <Jay> just below is VMW
[14:28] <Jay> see the IDENTICAL 5 min mini inv pup?
[14:28] <Jay> thats what i meant
[14:28] <Jay> when we shorted rvbd
[14:28] <Jay> vmw, ffiv
[14:28] <Jay> also could have been taken short
[14:28] <Jay> sector sympathy plays
[14:28] <Jay> so as rvbd fell from 35.20s-34.60s
[14:28] <Jay> VMW tanked from 94.90s 94.10
[14:29] <Jay> thats why u watch multiple stocks
[14:29] <Jay> and especially within sectors
[14:29] <Jay> identical mini inv pups
[14:29] <Jay> okee dokee
[14:31] <Jay> http://www.undergroundtrader.com/training/graphics/ <--archived in graphic index as well for your reference later
[14:31] <Jay> actually for cobratrading users who have 3 monitors
[14:31] <Jay> i will give cobra my super duper maximus ultimate layout
[14:32] <Jay> so you can get it from them
[14:32] <Jay> their layouts are tricky to save and send
[14:32] <Jay> but this sucker is huge
[14:33] <Jay> got 4 sets of charts
[14:33] <Jay> 2 on top of each other for the comparison purposes like on the chalkboard
[14:33] <Jay> es 5/1 min chart
[14:34] <Jay> 21 nasdaq level 2 windows
[14:34] <Jay> and about 200 stocks in the minders
[14:34] <Jay> maybe 300
[14:34] <Jay> lol
[14:34] <Jay> actually its about 3-4 monitors worth tho
[14:35] <Jay> actually depends on your resolution
[14:37] <Jay> if anyone is interested.. but i think it might be too big unless u have 3-4 screens with at least 1920 x 1080
[14:38] <Jay> and have no life and live in a box ;)
[14:38] <Jay> and no contact with humanoids
[14:38] <Jay> dang spy testing that 60 min 5 overshoots
[14:39] <Jay> wow the bears did cross that 15min stochs back down
[14:40] <Jay> wow just noticed qcom peaked at the daily 15
[14:40] <Jay> on the nose
[14:40] <Jay> 54.85
[14:40] <Jay> and slip sliding back down
[14:41] <Jay> will be interesting to see if the morning strength tech stocks hold most of their gains into close
[14:41] <Jay> or reverse in last hour
[14:42] <Jay> cool ramped up to 4.40 into a $5 price target upgrade
[14:42] <Jay> and tanked back down to 2.80s
[14:43] <Jay> friggin analysts
[14:43] <Jay> lotta typing today...
[14:45] <Jay> seriously, kkd should add a signature coffee line
[14:45] <Jay> to their brand
[14:45] <Jay> if they dont already
[14:45] <Jay> that would squeeze that stock
[14:45] <Jay> coffee stocks and turds especially been on a tear
[14:45] <Jay> JVA, CBOU
[14:46] <Jay> jamn went from .50 to $6
[14:46] <Jay> then cratered back to 1s
[14:46] <Jay> sounds like a cramer action alert
[14:46] <Jay> lol
[14:47] <Jay> brb
[14:52] <Jay> lol kudlow gonna interview the postmaster general tonight on cnbc... thats got a lot of market impact.. not.
[14:53] <Jay> these producers crack me up
[14:54] <Jay> spy big 1 min volume pop
[14:54] <Jay> huge 1min volume bar
[14:55] <Jay> wow
[14:55] <Jay> somethings up
[14:55] <Jay> gotta news somewhere
[14:55] <Jay> cnbc too busy talking about privatizing the mail service and running commericals
[14:55] <Jay> holy cow
[14:55] <Jay> is spy at 127.40??
[14:56] <emhoga> yes
[14:56] <traderxy> POP!
[14:56] <Jay> wow
[14:56] <Jay> something just happened
[14:56] <Jay> news
[14:56] <traderxy> Greece News
[14:56] <Jay> ah tx txy
[14:56] <Jay> bloomberg
[14:56] <traderxy> 5 Year agreement
[14:56] <Jay> tx tx
[14:57] <Jay> that pops the spy back to 60 min 15 overshoots
[14:57] <Jay> monster volume
[14:58] <traderxy> I think my level 2 blew a gasket on the SPY
[14:58] <Jay> 60 min 20 at 127.97
[14:59] <Jay> shorts getting caught off guard hard
[14:59] <gander> glad I wasn't short anything
[14:59] <Jay> lol txy me too
[14:59] <Jay> all 21 of them
[14:59] <gander> too bad I wasn't long anything either
[15:00] <Jay> well this gonna be an interesting last hour
[15:00] <Jay> watch your fingers, toes and elbows
[15:00] <Jay> dont play heavy
[15:00] <Jay> if we play
[15:01] <Jay> also if your quotes are off
[15:01] <Jay> dont play
[15:01] <ddog> mine were off = odd (how did you know J)?
[15:02] <Jay> i got multiple quotes on spy
[15:02] <emhoga> cnbc just catching the news
[15:02] <emhoga> lol
[15:02] <Jay> cnbc findally reporting the reuters story
[15:02] <traderxy> Trade the News is always ahead
[15:03] <Jay> interesting
[15:03] <Jay> tx txy
[15:03] <Jay> waiting on the 5min 5 on spy to catch up and see what they do once this move marinates
[15:04] <Jay> technically the 60 min spy is in a mini pup with both 5/15min stochs crossed up
[15:05] <Jay> but id like to see support bumpers test
[15:05] <Jay> first
[15:05] <Jay> 5min 5 and 15min 5 overlap near 127.30
[15:05] <Jay> 127.87 is the 60 min 20
[15:05] <Jay> 127.80 is 5min 200
[15:05] <Jay> 128.13 is the daily 5
[15:05] <Jay> thats what bulls would want to close above
[15:06] <Jay> 1 min pup thrust
[15:06] <Jay> TRADING ALERT: COnsdier a BUY SPY 127.90s - Always use a protective stop loss!
[15:06] <Jay> 127.80s ok
[15:07] <Jay> am thinking we will at least test that daily 5
[15:08] <Jay> TRADING ALERT: Consdier a BUY SPY 127.70s ADD - Always use a protective stop loss!
[15:08] <Jay> 1 min mini pup trying
[15:08] <Jay> 1 min mini pup + 1 min pup
[15:08] <gander> +.42 AMZN short
[15:08] <gander> gutzy is my middle name
[15:09] <Jay> need 127.80 to pop for 1min pup mini pup
[15:10] <Jay> pusshh
[15:11] <Jay> 1 min trying to pup mini pup here
[15:11] <Jay> 1/5/mini pup
[15:11] <Jay> 15 min pup
[15:11] <Jay> 60 min MINI PUP
[15:12] <Jay> SQUEEEEZE
[15:12] <Jay> 127.98 -128.08 LCIP/pre thrusts up to 128.08-.14
[15:12] <Jay> 128.15 is daily 5
[15:12] <Jay> TRADING ALERT: SPY CLIP/pare 128-128.08 - Always use a protective stop loss!
[15:12] <Jay> weeeee
[15:13] <Jay> 128.15 is daily 5 period ma resitsance ---
[15:13] <Jay> TRADING ALERT: SPY LOCK out 128s here into POPS
[15:13] <Jay> LOCK THIS THRUST
[15:13] <Jay> 128.08-128.15
[15:13] <Jay> 1 min upper bbs looks like its peaking
[15:14] <Jay> TRADING ALERT: SPY LOCK 128.12+++
[15:14] <Jay> anyone hit some??
[15:14] <emhoga> .34 TNA, thx jay
[15:14] <traderxy> I did!!!!!!
[15:14] <bamboo> yes, nice jay
[15:15] <traderxy> +.28
[15:15] <Jay> funny thing is i have differenet 1min chart reads
[15:15] <Jay> lol
[15:15] <Jay> on same platform
[15:15] <Jay> doh
[15:15] <Jay> so going with the lesser of the two
[15:15] <Jay> saw 1 min upper bbs sloping down briefly
[15:15] <traderxy> Volume on SPY is crazy
[15:15] <Jay> wtg em, trader xY!
[15:15] <Jay> wtg bamboo
[15:16] <Jay> man o man what a crazy day
[15:16] <traderxy> it was exciting!!!!
[15:16] <emhoga> time for some budweiser :)
[15:16] <Jay> the daily 5 bumper got hit on spy so now just sitting on the sdielines here
[15:16] <Jay> in CASH
[15:16] <gander> +20 AMZN short
[15:16] <Jay> wtg g
[15:16] <gander> sorry +.18
[15:17] <Jay> lol still good green
[15:17] <Jay> thats the one unknown lurking in this market
[15:17] <Jay> event risk
[15:18] <Jay> spy peaked at daily 5 bumper and exhale
[15:18] <Jay> back to 5min 5
[15:18] <Jay> the daily 5/15 on spy is actually getting very tight
[15:18] <dodge> wild chop in aapl
[15:19] <Jay> 128..17 x 128.40 is the channel
[15:19] <Jay> wish we could have this kind of volume every day
[15:19] <Jay> all day long
[15:19] <Jay> hehe
[15:20] <Jay> i can only imagine if we were still in fractions how much bigger the moves would be ..
[15:20] <gander> and it is ORCL earnings after the close
[15:20] <dodge> nk j
[15:20] <gander> thinking better that even they are expecting
[15:21] <Jay> listen gang. our money is made for the day
[15:21] <Jay> no hurry or worry to play any more of this
[15:21] <Jay> but if we do....
[15:21] <Jay> light shares only
[15:21] <gander> Orcle chairman has to pay for his boat race
[15:21] <gander> Oracle
[15:21] <Jay> most important chart to watch is that 5min 5 period ma
[15:22] <gander> what am I saying--he will just use his petty cash
[15:22] <Jay> either buyers gonna hold it and mini pup
[15:22] <Jay> or sellers will reverse it and mini inv pup
[15:22] <Jay> 5min is the battering ram either way
[15:22] <Jay> 5min 5 period ma
[15:26] <Jay> 1 min mini inv pup challenging the 5min 5 again
[15:26] <Jay> on the spy
[15:27] <Jay> pinball
[15:27] <Jay> 127.60 is 15min 5
[15:27] <Jay> cant wait for dave n busters to ge the SPY pinball machines in
[15:28] <Jay> now 15min 5 bumper tests
[15:28] <Jay> 5 min 5 bumper slipped
[15:28] <Jay> 1 min full oscillation here
[15:28] <Jay> now next 1min coil is key
[15:28] <Jay> its gonna retest that 5min and either PUP or mini inv pup
[15:28] <Jay> after it coils
[15:28] <Jay> which ....
[15:28] <Jay> its hasnt...
[15:29] <Jay> lol
[15:29] <Jay> 1min 5 bumper at 127.71
[15:29] <Jay> if they reject there then 1min makes a low band mini inv pup flush
[15:29] <Jay> before a coil attempt
[15:30] <Jay> one thing to remember
[15:30] <Jay> on mini pup patterns
[15:30] <Jay> the easiest thing to do is look for a series of red candles then a single green candle
[15:30] <Jay> and if it rejects the 5 period ma and goes red again
[15:30] <Jay> thats the mini inv pup
[15:31] <Jay> and vice versa on up moves
[15:33] <Jay> 127.81 is the 5min now
[15:34] <Jay> that 5 min 5 slope down in not a good sign
[15:37] <dodge> Bloomberg - interesting
[15:37] <Jay> now 127.68 is 5min 5
[15:39] <Jay> TRADING ALERT: Consdier a BUY SPY 127.70s LIGHT - Always use a protective stop loss!
[15:39] <Jay> up to 127.80 OK
[15:40] <Jay> i cant help feeling the bulls will take this to daily 5 into the close
[15:40] <Jay> makes too much sense
[15:40] <Jay> but we need to close 5min canle above 5min 5 and cross that 5min stochs up
[15:40] <Jay> 1 min working oscillation
[15:42] <Jay> TRADING ALERT: SPY back to cash
[15:42] <Jay> use this coil
[15:42] <Jay> 1 min still trying to coil
[15:42] <Jay> back to cash
[15:42] <ddog> GS new lows
[15:43] <Jay> TRADING ALERT: Consdier a BUY SPY 127.72 - Always use a protective stop loss!
[15:44] <Jay> 1min still trying to mini pup
[15:44] <Jay> bulls ogttta push here now
[15:44] <Jay> now is the time to strike bulls
[15:44] <Jay> pusshhhh
[15:45] <Jay> 5 min trying to pup
[15:45] <Jay> 1 min mini pups
[15:45] <Jay> pusshhhhh
[15:45] <Jay> pusshhhhh
[15:45] <Jay> attack!!!!
[15:45] <Jay> hehe
[15:45] <Jay> hold the line
[15:46] <Jay> hold the line
[15:46] <Jay> ATTAACCK!!!!!
[15:46] <Jay> TRADING ALERT: trim SPY 128-128.08
[15:46] <Jay> boooooyaaaahhhh
[15:46] <Jay> 128.20 is 5min upper bbs
[15:47] <gander> Jay is fighting a war
[15:47] <gander> on the front lines
[15:47] <Jay> fighting for the people!!!!!
[15:47] <MadDog> booyah
[15:47] <MadDog> skidaddy
[15:47] <Jay> fighting for mankind!!
[15:47] <gander> +.75 SNH short for a couple of days
[15:47] <Jay> TRADING ALERT: SPY TRIM OUT MOST 128.08-128.13
[15:48] <gander> lol
[15:48] <MadDog> booyah skidaddy g
[15:48] <gander> lots of fun today
[15:48] <Jay> final spurt here
[15:48] <Jay> are we MEN or are we mice????
[15:48] <MadDog> so glad I don;t have cnbc on today
[15:48] <Jay> final thrusts
[15:48] <Jay> to take the cheeeese
[15:48] <MadDog> they must be having multiple o's
[15:49] <Jay> TRADING ALERT: SPY LOCK 128.18-.24
[15:49] <Jay> TAKE THE CHEESE
[15:49] <MadDog> earnings after close: ACN FINL HRB MU ORCL TIBX
[15:49] <Jay> anyone score that one??
[15:50] <emhoga> +.44 TNA, thx jay, great day :)
[15:50] <Jay> spy 5min upper bbs near 128.40 but i like the sure money cant be greedy and mice got small appetites ;)
[15:50] <Jay> awsome em
[15:51] <Jay> this pop makes sense
[15:51] <Jay> in other words, bulls had no reason to jam up like they did
[15:51] <Jay> UNLESS they planned on following it thru
[15:51] <Jay> to close above the daily 5
[15:51] <Jay> and that daily 5 spy is sloped up
[15:51] <Jay> makes sense
[15:52] <Jay> heres the hyper pop
[15:52] <Jay> not touching it
[15:52] <Jay> if still long just bleed into the pops
[15:53] <Jay> massive rope a dope on the bears today
[15:53] <MadDog> there's probably some nice Greek word for booyah
[15:53] <Jay> the ones who didnt cover
[15:53] <Jay> gyro
[15:53] <MadDog> ba-kla-va skidaddy
[15:53] <Jay> lol md
[15:54] <Jay> bears still got 3 mins
[15:54] <Jay> to flatten
[15:55] <Jay> lol
[15:55] <Jay> i think they lost this battle
[15:55] <gander> tks for earnings md
[15:55] <Jay> yes tx md always ;)
[15:55] <MadDog> np horsedaddy
[15:55] <Jay> that daily 5/15 on spy is getting tight
[15:55] <Jay> lol
[15:55] <gander> lol
[15:57] <Jay> bernanke should take a hint and just announce q3
[15:57] <Jay> and qe3
[15:57] <Jay> and ae4
[15:57] <Jay> qe
[15:57] <Jay> just keep QE-ing it til the end of the mayan calender
[15:58] <Jay> he should watch scarface
[15:58] <Jay> tony montana 'i always tell the truth... eben when i lie...'
[15:58] <Jay> ok gang
[15:58] <MadDog> by the time QE4 would be here, Ron Paul would be President and he'd remove "Q" and "E" from the alphabet
[15:58] <Jay> wild day
[15:58] <traderxy> thxs for everything Jay
[15:58] <Jay> my pleasure txy ;)
[15:59] <Jay> tx for the looking out on the greek news
[15:59] <traderxy> keep preaching and teaching
[15:59] <Jay> ;)
[15:59] <traderxy> NP
[15:59] <Jay> will do
[15:59] <Jay> have a relaxing evening gang
[15:59] <Jay> crazy day
[15:59] <Jay> but the beauty is that we were right in the middle of it
[16:00] <Jay> while others gotta read about it
[16:00] <Jay> in the papers tommoz morning ;)
[16:00] <traderxy> lol
[16:00] <Jay> good trading troops! cyall in the morning
[16:00] <Jay> pooooooooooooof
[16:02] <gander> there goes orcl
[16:02] <traderxy> ...and Micron
[16:11] <dodge> finally out of aapl short -.94 but it was down 2 at close
[16:11] <dodge> and still dropping -of course
[16:12] <gander> nice one d
[16:12] <dodge> lrptb --- see you guys tomorrow
[16:12] <dodge> thanks g
[16:19] <dodge> that's much better than a real sharp stick ...