Underground Trading Pit Sample Log

#TradingPit - Wednesday, 1.09.2008

[08:29] <Jay> morning traders :)
[08:29] <Jay> MBI all over the map this morning
[08:32] <MadDog> nk, gm J
[08:33] <MadDog> when the news came out there were trades from 11.80 to 13 and back in seconds
[08:33] <Jay> thats a slipper stock
[08:34] <Jay> mos, mon gaps
[08:36] <Jay> apol earnings gap
[08:36] <Jay> 74.25 is daily 50 rsistance
[08:36] <Jay> wide spread thinstock
[08:37] <Jay> grmn gap down, neverending selling on that one
[08:38] <MadDog> hmm
[08:39] <MadDog> ABK up in sympathy to MBI I suppose
[08:39] <Jay> NEWS ALERT: MBIA: Fitch says it would affirm MBIA rating if $1 bln offering successful -
[08:39] <Jay> yes they both move together
[08:47] <Jay> noodles tight premarket
[08:49] <Jay> dont be pressed for trades
[08:49] <Jay> especially on flat noodles
[08:50] <Jay> MBI had one opportunity on a 5 min mini pup off 15.50 earlier, faded aftger that
[08:50] <Jay> but very likely not gonna touch it today, its increibly choppy at these levels
[08:50] <Jay> and not shortable for most
[08:50] <Jay> aapl and rimm are playable ONLY when noodles are trending
[08:50] <Jay> and have motion
[08:52] <Jay> earnings season kicks off hard n heavy next week
[08:53] <Jay> mgm gap up this morning
[08:53] <Jay> NEWS ALERT: GM Mirage: Tender Offer For MGM Shrs Between $75/Shr-$80M
[08:54] <Jay> NEWS ALERT: Mirage Gains 6.5%, It and Dubai World to Launch Tender Offer
[08:54] <Jay> strange
[08:54] <Jay> dutch auction for shares between 75-80
[08:54] <Jay> closed at 70 last night
[08:54] <Jay> gapping to 74
[08:55] <Jay> noodles slipping on 3/13 min premarket mini inb pupd
[08:56] <Jay> inv
[08:56] <Jay> one thing to note, not sure how much of a difference it will make this morning
[08:56] <Jay> but AAPL had one hell of a support off that 171 level yesterday 171 x 170.75 into the close
[08:57] <Jay> they wouldnt hold down 171 no matter what the noodles were doing
[08:57] <Jay> so just a level to keep an eye on
[08:57] <Jay> did anyone else notice that?
[08:58] <Jay> aapl 5 min has an inv pup anyway premarket so will test that theory soon as lower bbs sit at 171 too alte to chart 1 min low bands
[09:08] <Jay> 8 min initial noodles hammer
[09:10] <Jay> aapl notice how the .75 level held and coiled with noodles to peak just under the 171.30 coil resitance
[09:11] <Jay> apol will keep an eye on it
[09:11] <Jay> its thin so give it some time after the open
[09:11] <Jay> 74.25 is the daily 50
[09:16] <Jay> ldk was strong yesterday go figure
[09:16] <Jay> gap this morning
[09:16] <MadDog> upgrade this am
[09:16] <Jay> tx md
[09:16] <Jay> etfc turd gap
[09:20] <MadDog> PRIX getting smacked on earnings miss, guide down, CFO leaving
[09:20] <MadDog> sorry PRXI
[09:21] <booboo> was gonna say md, not a good name for a co
[09:21] <fishtrader> lol....
[09:21] <MadDog> lol
[09:21] <fishtrader> would be a good name for mine ;-)
[09:21] <klc4570> lol
[09:22] <fishtrader> gm all
[09:22] <MadDog> got in late from Cirque du Soleil last night, a bit cloudy here :-)
[09:22] <Jay> noodles daily lower bbs reistance at 1934.75
[09:22] <MadDog> gm fish
[09:22] <klc4570> gm all
[09:22] <fishtrader> md :)
[09:22] <MadDog> gm klc
[09:22] <booboo> snowing yet again here md. 4 feet last 5 days
[09:22] <MadDog> wow
[09:23] <MadDog> finally calmed down here last night
[09:23] <c> goodmorning everyone
[09:23] <fishtrader> damn boo
[09:23] <fishtrader> gm c
[09:23] <tracker> gm all
[09:23] <Jay> giv the open some time gang
[09:23] <booboo> i gave up on shoveling
[09:23] <fishtrader> where are you again boo ?
[09:23] <klc4570> gm
[09:23] <fishtrader> oh
[09:23] <booboo> park city, ut
[09:23] <MadDog> I don;t trust these futures as far as I can fire them out of a big cannon
[09:23] <fishtrader> pa ?
[09:24] <fishtrader> that makes more sense :)
[09:24] <MadDog> real purty where boo lives
[09:24] <klc4570> gonna have to expect snow in Park City
[09:24] <booboo> most snow since 1992
[09:24] <fishtrader> resorts happy I spose
[09:24] <Jay> keep an eye on the noodles daily lower bb resistance
[09:25] <fishtrader> can I get a dlbb check J ?
[09:25] <MadDog> APOL sheez
[09:25] <Jay> 1934.75
[09:25] <fishtrader> 1950 ish here
[09:25] <fishtrader> weird
[09:25] <Jay> apol if it pops to 77 x 77.50 off open good nibble spots to short light
[09:26] <tracker> gm jay, traders
[09:28] <fishtrader> gm track
[09:28] <ziplips> gm jay, md and all
[09:28] <fishtrader> zip
[09:28] <Jay> TRADING ALERT: Consdier a SHOR APOL 77.50x 78 light - Always use a protective stop loss!
[09:29] <Jay> LIGHT will add 79 x 80 i f it gets there
[09:29] <Jay> TRADING ALERT: Consdier a SHOR APOL 79.40 x 80
[09:30] <Jay> 1 min star under bbs
[09:30] <Jay> noodles slipping
[09:31] <klc4570> sweet
[09:31] <Jay> look for low 78s x 77.50 to trim
[09:31] <fishtrader> trim +1.25
[09:32] <Jay> watch for 1min peaks
[09:33] <Jay> trim some .70 x .40
[09:33] <Jay> .30 key break
[09:34] <monico123> good am everyone, J, MD
[09:35] <Jay> back under 79
[09:35] <monico123> dodge, fish
[09:35] <fishtrader> gm mon :)
[09:35] <Jay> noodles daily lower bbs test
[09:36] <fishtrader> trim apol +2
[09:37] <Jay> 3 min upper bb key break on apol
[09:37] <dodge> Morning all - running late-
[09:37] <Jay> remember upper bb gravity atmospher
[09:37] <fishtrader> yep...good spot to take some off
[09:38] <fishtrader> gm d
[09:38] <Jay> 79.22 is new resistance
[09:38] <Jay> 3 min 5 nearing
[09:38] <Jay> Clip/pare 78.70s x 78.50s if u havnt wtch for 1 min slips
[09:38] <Jay> 78.40 x .30 KEY breaks
[09:40] <Jay> apol anyone score? be locked out if u havent on the rest
[09:40] <Jay> noodles are grinding here
[09:40] <Jay> lock out APOL on 1 min mini inv pup slip pullbacks on the rest
[09:40] <Jay> TRADING ALERT: APOL lock out rest under 79
[09:40] <klc4570> yep, +1, .63, etc thanks Jay
[09:41] <c> green on apol tx
[09:41] <c> jay
[09:42] <klc4570> cfc under $5
[09:42] <Jay> wtg guys
[09:42] <Jay> cfc ugly
[09:43] <klc4570> nk
[09:43] <c> can't even find short shares here
[09:44] <klc4570> lots of fans
[09:45] <klc4570> grmn tanked
[09:45] <fishtrader> out last apol +2.60
[09:45] <klc4570> nice...patience pays off
[09:46] <klc4570> something I need to learn
[09:46] <fishtrader> tks klc
[09:46] <MadDog> CFC shorts full of patience
[09:46] <Jay> 1 min mini invb pu poscillations down on apol
[09:47] <klc4570> wow cfc 4.50
[09:47] <fishtrader> looks l;ike I should have held that last grmn one more day
[09:47] <fishtrader> oh well
[09:47] <MadDog> GRMN needs a gps to find a bull
[09:47] <klc4570> lol
[09:47] <MadDog> sources say Fed will ease momentarily per Doug Kass
[09:48] <Jay> cfc wow
[09:48] <MadDog> funny thing is that noodles move earlier was so quck I thought that's what it was at first
[09:49] <MadDog> BIDU klunk
[09:50] <fishtrader> I guess md
[09:50] <Jay> noodles tight
[09:51] <c> .21 scalp on cfc
[09:51] <klc4570> nice c
[09:52] <Jay> wtg c
[09:52] <fishtrader> yep...nice clip c
[09:52] <c> tx
[09:53] <klc4570> apol
[09:53] <Jay> apol finally cracks 78 if anyone still short work the 1 min low band leans
[09:53] <Jay> with a trail on 3 min 5 breaks
[09:54] <MadDog> grrr
[09:54] <MadDog> man it's hard to bounce BIDU sometimes
[09:55] <MadDog> miond of its own
[09:55] <fishtrader> yes md
[09:55] <fishtrader> fades alot
[09:56] <MadDog> both directions
[09:56] <MadDog> thought I caught that last plop perfect when noodles recovered
[09:56] <fishtrader> plus the .50 -1 sup/res overshoot factor can make it tricky
[09:56] <MadDog> that's why I'm only playing 50 shares
[09:56] <MadDog> buys and sells automatically invisible
[09:56] <MadDog> so easier to beat the spread
[09:57] <fishtrader> yes...definately better fills with hiddens on that one\
[09:58] <MadDog> I'm off on the rhythm thus far this am tho
[09:58] <MadDog> positive but missed both big bounces
[09:58] <fishtrader> aapl short pare +.50
[09:58] <fishtrader> fader
[09:58] <tracker> clip ice +.65
[09:59] <MadDog> nice fish
[09:59] <Jay> wtg guys
[09:59] <Jay> very choppy
[09:59] <fishtrader> need a noods slip
[09:59] <Jay> even with noodles mini pups
[09:59] <Jay> aapl has a strange fade off that .75 coil resistance lvel
[09:59] <MadDog> fyi, INSP is a dividend
[09:59] <MadDog> wtg tracker
[09:59] <tracker> ty md ice mirroring the noodles
[10:00] <MadDog> APOL turn down
[10:01] <tracker> ice kinda thin have to be careful
[10:01] <MadDog> brb
[10:02] <fishtrader> trim more aapl +.90
[10:02] <scooter> i'm nibbling a long swing ZIXI from here... pulled back pretty steep
[10:02] <Jay> nice fish
[10:02] <Jay> aapl have problems with its 60 min 5
[10:02] <c> CMI sure tanked after split down 3.30 just today
[10:02] <Jay> but 8/13 min make or breaks
[10:02] <Jay> with a sloping 8 min up
[10:04] <fishtrader> yes
[10:05] <fishtrader> thinking that if the noods slip that 3m5 aapl will go to hell
[10:05] <fishtrader> gonna trail rest even
[10:08] <MadDog> Jay you were right all around on APOL, just needed to get some irrational exuberance out of the way first
[10:08] <Jay> yes needed some more patience
[10:08] <Jay> on it
[10:08] <MadDog> I hate the educational stocks, skittish as all get out
[10:09] <Jay> noodles at 60 min upper bbs
[10:09] <Jay> 1947 coil resistance tests
[10:10] <Jay> grmn quite a plunge
[10:10] <MadDog> BIDU sure a weak fader so far
[10:10] <fishtrader> took prof stop on remaining aapl +.70
[10:10] <MadDog> don't see anything on wires other than China's reiteration to put the brakes on the economy's epansion
[10:10] <klc4570> nice fish
[10:10] <MadDog> wtg fish
[10:10] <fishtrader> noods wouldn't slip
[10:10] <c> wtg fish
[10:10] <MadDog> expansion
[10:10] <fishtrader> tks guys
[10:10] <fishtrader> coffe break
[10:11] <MadDog> GRMN sheez
[10:11] <fishtrader> trying not to look md
[10:11] <MadDog> GRMN=Get Read for More Negativity
[10:11] <MadDog> Ready
[10:12] <tracker> lol
[10:12] <fishtrader> broke out of it's mtr
[10:13] <MadDog> cmon down BIDU
[10:13] <Jay> .90 x 70.10 4 min 5 resitsance tsts
[10:13] <Jay> on grmn
[10:13] <Jay> sirf moves in sympathy
[10:14] <Jay> TRADING ALERT: Consdeir a SHOR SIRF 20.70 - Always use a protective stop loss!
[10:15] <Jay> 1 min slip sets up the inv pup 3/8 min
[10:15] <MadDog> man the MBI /ABK party over quick
[10:16] <Jay> clip/pre leans into the stinky 5s levels 20.50s
[10:16] <MadDog> MOS tank
[10:16] <MadDog> conf call ongoing
[10:16] <Jay> on grmn 69 is key support
[10:16] <Jay> SIRF new lows
[10:16] <Jay> leeens
[10:17] <Jay> on sirf 20.50 is pivot snd stinky 5s support
[10:17] <Jay> 20.55 x 20.45 Clip/pare leans
[10:17] <Jay> noodles nice DUMP
[10:17] <Jay> TRADING ALERT: SIRF Clip/pare 20.55 x 20.45
[10:17] <MadDog> MOS now 10 pointsa off its premarket high
[10:17] <MadDog> ok 12
[10:17] <klc4570> nice call Jay, thanks .17
[10:17] <Jay> noodlse rope a dope slap
[10:18] <Jay> that was an easy perfect storm kill
[10:18] <Jay> 3/8/13 min mini inv pups
[10:18] <Jay> that 1 min slip was the fuse
[10:18] <MadDog> 13 lol
[10:18] <Jay> leeeeen
[10:18] <Jay> here we go
[10:18] <Jay> LOCK near 20.40 coil support
[10:18] <Jay> TRADING ALERT: LOCK SIRF 20.40
[10:19] <tracker> cover ice +.80
[10:19] <klc4570> out .22, thx Jay
[10:19] <MadDog> wtg guys
[10:19] <c> green on sirf tx J
[10:19] <Jay> lock it on out on leans thru 20.45 panics x 20.40 into the leens
[10:19] <Jay> TRADING ALERT: SIRF ok to LOCK this pig
[10:20] <Jay> 20.40 overshoots nice
[10:20] <Jay> wow
[10:20] <Jay> gift leeens
[10:20] <Jay> 20.30s
[10:20] <klc4570> dang, nice call!
[10:20] <fishtrader> aapl +.40, +1, out +2.50
[10:20] <fishtrader> lol
[10:20] <fishtrader> tankage
[10:20] <klc4570> fish, pedal to the metal
[10:20] <fishtrader> out too soon lol
[10:20] <Jay> that one was a little less hearwrenching than the APOL shorts eh ;)
[10:20] <Jay> slightly smoother ride
[10:20] <c> that must be good coffee fish
[10:20] <Jay> lol
[10:20] <klc4570> yep, nice & easy
[10:20] <Jay> wtg fish
[10:21] <fishtrader> lol c
[10:21] <Jay> apol wow
[10:21] <fishtrader> tks Jay
[10:21] <Jay> well guess the faders knew what they were doing
[10:21] <fishtrader> great call in sirf
[10:21] <tracker> nice fish
[10:21] <fishtrader> out too soon there too
[10:21] <dodge> wtg fish
[10:21] <Jay> tx
[10:21] <fishtrader> took the scalp +.22
[10:21] <fishtrader> tks d
[10:22] <Jay> noodles 60 min ma's are still flat here
[10:23] <fishtrader> wow
[10:23] <klc4570> wow sirf
[10:23] <fishtrader> sirf testing 20
[10:24] <Jay> grrr
[10:24] <scooter> +.27 on ZIXI - still in for the swing
[10:24] <Jay> grmn tirggered a 5 min mini inv pup
[10:24] <klc4570> wtg scooter
[10:24] <Jay> sirf just following
[10:24] <scooter> thx bud
[10:25] <Jay> grmn there 5 min mini inv pu pleans
[10:25] <fishtrader> nice trim scoot
[10:25] <fishtrader> wtg
[10:25] <Jay> if anyone took work the overshoots into 67s
[10:25] <fishtrader> gonna try for that coffee again
[10:25] <fishtrader> brb
[10:25] <Jay> wtg scooter
[10:26] <Jay> u may have caught a hammer off 60 min is it can close above lower bb
[10:26] <scooter> k
[10:26] <Jay> noodles just chopping back n forth here
[10:27] <Jay> oil numbers out
[10:27] <Jay> forgot about those
[10:27] <klc4570> positive news
[10:27] <Jay> noodles not much reaction
[10:27] <Jay> also 1834.25 is the daily lower bbs
[10:27] <Jay> here
[10:30] <maxx> BRCM +.25
[10:30] <klc4570> wtg maxx
[10:30] <Jay> wtg max
[10:30] <maxx> thx j, klc
[10:31] <Jay> are there other GPS plays?
[10:31] <Jay> sirf killed
[10:31] <klc4570> nk
[10:31] <MadDog> NVT
[10:31] <MadDog> but they're kinda kicckin GRMN's butt on new deals right now
[10:31] <MadDog> kickin
[10:32] <Jay> nok
[10:32] <MadDog> smackin
[10:32] <MadDog> bootin
[10:32] <Jay> TRADING ALERT: Consdier a SHOR NOK 33.85 - Always use a protective stop loss!
[10:32] <MadDog> TRMB too
[10:33] <klc4570> odd, no fill 1st 2 tries
[10:34] <MadDog> strong recovery form PRXI on its conf call
[10:34] <MadDog> from
[10:35] <Jay> nok back to cash for now
[10:35] <Jay> grmn coiling
[10:35] <Jay> TRADING ALERT: NOK back to cash for now
[10:36] <Jay> grmn hard pops
[10:39] <Jay> TRADING ALERT: Consdier a BUY GRMN 70.40 light
[10:40] <Jay> trying to make a daily 60 min bttom
[10:41] <Jay> squeeeeze
[10:42] <Jay> squeeeze pig
[10:42] <klc4570> bingo
[10:42] <Jay> trim some up to 71.20 initial clip/pares 71 x 71.25
[10:42] <Jay> weeeeee
[10:42] <scooter> niice
[10:42] <Jay> TRADING ALERT: GRMN clip/pare some 71 x 71.25
[10:43] <klc4570> well called Jay, thx
[10:43] <scooter> i may have to hold some for a swing if price action holds
[10:43] <Jay> keep riding some
[10:43] <klc4570> .63, .81
[10:43] <klc4570> veddy nice
[10:43] <tachyon2> great call jay. bought 200 out 100 at +1
[10:43] <klc4570> wtg tach
[10:44] <tachyon2> thx klc
[10:44] <Jay> tightening to 71.70 x 72 next trail
[10:44] <klc4570> Jay, your calls have been pretty dang good lately, I have to say
[10:44] <Jay> best case on this leg up to 72.50
[10:45] <Jay> 71.50 breks key use the flush thru to trim out more
[10:46] <Jay> TRADING ALERT: GRMN trim out moe 71.70 x 71.95
[10:46] <klc4570> last 50 out 1.14,nice
[10:47] <Jay> 1 min will peak so if pared be pared light trail 71 or else clip into 1 min hi band mini pups
[10:47] <Jay> beauty klc
[10:47] <Jay> TRADING ALERT: GRMN ok tO LOCK it out here
[10:47] <Jay> noodles weakness here
[10:48] <Jay> grmn 1 min peaking taking o chances
[10:48] <Jay> wHO HIT SOme?
[10:48] <Jay> shoulda made up easily for nok stop
[10:48] <issorr> got it - tks
[10:48] <c> green on grmn tx J
[10:49] <scooter> v nice
[10:49] <Jay> very nice gang
[10:49] <Jay> noodles ARe STILL flat on the 60 min
[10:49] <Jay> lets slow it down
[10:50] <klc4570> funny--I thought I was typing in "aapl" to check the chart, typed in "fish" instead.......seriously
[10:50] <trent> let's see, NOK -.12, GRMN +1.32. Think I'll be ok. tks J!
[10:50] <klc4570> nice trent
[10:51] <tracker> nice trent
[10:51] <Jay> wtg trent
[10:51] <Jay> some nice action this morning
[10:51] <trent> : )
[10:52] <Jay> but jeep in mnind
[10:52] <Jay> if the noodles stay tight
[10:52] <Jay> that action turns into untradeable chop
[10:54] <Jay> volume slowing down out there
[10:54] <Jay> more chop
[10:55] <klc4570> Jay, isis long?
[10:55] <Jay> no klc
[10:55] <Jay> the only long u want to take is if its uptrending with mini pups
[10:56] <fishtrader> drys having some issues today
[10:56] <Jay> it was a long off 2.50 coil suppport on the earlier 3 min mini pup, not a long now
[10:56] <klc4570> ok, thx
[10:56] <Jay> leave it alone
[10:56] <fishtrader> erts strong
[10:56] <Jay> let the 60 min ma's tighten and then trend
[10:56] <klc4570> aye aye
[10:58] <klc4570> glad I asked, would've spent $ getting stopped out
[10:58] <Jay> np klc
[10:59] <Jay> lotta chop here
[11:00] <c> 4 for 4 time for me to leave call it aday cya AM
[11:00] <dodge> wtg c
[11:02] <c> tx
[11:03] <tachyon2> lock out small lot of grmn +2
[11:03] <c> nice tach
[11:04] <klc4570> nice tach, that's patience
[11:04] <tachyon2> thx
[11:04] <Jay> beauty tach
[11:04] <Jay> wtg c
[11:04] <Jay> very sharp tach ;)
[11:04] <tachyon2> thx Jay
[11:04] <fishtrader> nice tach
[11:04] <fishtrader> good trade
[11:04] <Jay> th 5 min triggerd a mni pup once 71.57 when they couldnt crack it
[11:04] <Jay> coiling the 1 min back up and faded into the noodles leans
[11:05] <klc4570> brb bkfst
[11:05] <Jay> aapl faded back under 60 min 5 again
[11:06] <c> tx J I know I'm do for a slap on the rist just not today
[11:06] <Jay> noodles random leans and pops no follwothru tho
[11:06] <tachyon2> thx fish
[11:06] <Jay> c, as long as u know, u can adjust the size
[11:07] <fishtrader> lol
[11:07] <fishtrader> sometimes we forget that ;-)
[11:07] <Jay> in the market, there is sometimes no line between confidence and arrogance but once arrogance slips in, the market gets u
[11:08] <Jay> this is how your worst days are days where u start off with very NICE green
[11:08] <Jay> but get chopped giving it back slowly so u try harder
[11:08] <fishtrader> drys short +.50, .90
[11:08] <Jay> play setups u know are blurry but compensate with too much size, etc etc
[11:09] <Jay> and then at the end of the day, your +1k day is -4k
[11:09] <Jay> happens to everyone
[11:09] <Jay> thats when the arrogrance set in
[11:09] <Jay> confidence has to weateherd with humility and apathy
[11:10] <Jay> in other words
[11:10] <Jay> know when to quit n walk
[11:10] <Jay> especially when the environment changes
[11:10] <Jay> like deadzone every day
[11:10] <Jay> remember u cant control the market, u control what environment u place yourself in
[11:10] <Jay> as it pertains to trades
[11:11] <Jay> thats why what works in the first 30 mins
[11:11] <Jay> can totally fail in deadzone
[11:11] <Jay> did the methods change?
[11:11] <Jay> no
[11:11] <Jay> the environment did
[11:11] <Jay> less volume, less followthru, less liquidity more chop
[11:11] <Jay> see my point?
[11:11] <c> yes sir
[11:11] <Jay> placement of your trades in the right environment makes all the difference
[11:12] <Jay> took a long time to figure it out
[11:12] <Jay> most people are so into methods
[11:12] <Jay> they stick with a method and it works and then it doesnt work so they move onto other methods
[11:12] <Jay> they dont take into account
[11:12] <Jay> the environment
[11:12] <Jay> in which they apply methods
[11:12] <Jay> my methods need VOLUME and followthru
[11:13] <Jay> thats all i need
[11:13] <Jay> failing that
[11:13] <Jay> they will just get you chopped
[11:13] <Jay> however, thats what filtering is for
[11:13] <Jay> when market gets tougher and choppier, u fitler to the best setups only
[11:13] <Jay> like perfect storms
[11:13] <Jay> 3 or more mini pups
[11:14] <Jay> across time frames
[11:14] <Jay> gives you the best odds
[11:14] <Jay> exhaustion and channel tightenings
[11:14] <Jay> are riskier
[11:14] <c> did that for 2yrs and have grown by leaps since started with you
[11:15] <shammer> Well said Jay
[11:15] <Jay> tx c, as long as u make sure that u are learning the methods everyday
[11:15] <Jay> last 6 weeks have been very tough
[11:15] <Jay> good training
[11:15] <c> tx J
[11:15] <Jay> earnings season tends to have the two elemnts that my methods need, VOLUME, FOLLOWTHRU
[11:15] <Jay> thats why its the most profitable
[11:16] <Jay> not that every trade is profitable
[11:16] <Jay> we have losers
[11:16] <Jay> but in that environemnt
[11:16] <Jay> it allows you to reverse a trade
[11:16] <Jay> and make up losses and make green
[11:16] <Jay> quickly
[11:16] <Jay> becuase the liquidity is there
[11:16] <Jay> unlike thin chop markets
[11:16] <Jay> u take a stop, sometimes it impossible to make it back
[11:16] <shammer> I have been doing day trading for 6 years now..Your systems works very good, by i am still going down, because i fail to deploy the system. I do it for week or two then i forget the rules then i lose all the gain for the past two weeks in just one day..
[11:17] <Jay> yes shammer, understandable
[11:17] <Jay> its what i mentioned before
[11:17] <Jay> the arrogance part
[11:17] <Jay> we all get that way
[11:17] <Jay> comfortable
[11:17] <Jay> so we dont accept the losses from the top
[11:17] <Jay> especially if it starts as a green day
[11:18] <Jay> and it slowly spirals
[11:18] <Jay> out of control
[11:18] <Jay> what u have to do
[11:18] <Jay> is figure out
[11:18] <scooter> discipline must be cultivated... like any habit, takes repetition
[11:18] <Jay> what your daily threshold is
[11:18] <Jay> that means going back and taking alook at your trades
[11:18] <Jay> what do u avg easily when u go green
[11:18] <Jay> and then what is your downside threshold
[11:19] <shammer> What is painful for me is that I know the system very well. But I fail to maintain discipline
[11:19] <Jay> how much loss can u take and not worry
[11:19] <Jay> then theres the abyss
[11:19] <Jay> thats the level that once u hit $$ down, u go on tilt
[11:19] <Jay> thats reality
[11:19] <Jay> everyone has these levels
[11:19] <c> monday went that way for me until I just walked away
[11:19] <Jay> shammer, knowing and doing
[11:19] <Jay> are two seprate things
[11:19] <Jay> trading is a PHYSICAL game
[11:19] <Jay> yes PHYSICAL
[11:20] <Jay> think about it
[11:20] <Jay> when u know what to do--
[11:20] <shammer> seems like my first trade make my day direction..if i lose on the first trade then i forget the reality and just go crazy to any trade for recovery and that's when i losy BIG
[11:20] <Jay> thats only 10%
[11:20] <Jay> the other 90% is applying it
[11:20] <Jay> but understand what i said earlier
[11:20] <Jay> you can only CONTROL where you place yourself
[11:21] <Jay> so u know what u do?
[11:21] <shammer> yes
[11:21] <Jay> once u hit the loss threshold
[11:21] <Jay> you turn off your platform
[11:21] <Jay> and leave for a while
[11:21] <Jay> CUT the physical connection
[11:21] <Jay> environment is everything
[11:21] <Jay> knowing u shouldnt make a trade
[11:21] <shammer> well said..
[11:21] <Jay> knowing you shouldnt play this blurry setups
[11:21] <Jay> knowing your shouldnt be trading this much size
[11:22] <Jay> dont mean anything
[11:22] <Jay> traders nature is to hunt and be aggressive
[11:22] <Jay> so you gotta take that temptation away
[11:22] <Jay> take yoruself physically away
[11:22] <Jay> from the enivonbrment when its bad
[11:22] <Jay> take a long break
[11:22] <Jay> see my point?
[11:22] <Jay> when i take deadzone break
[11:22] <Jay> its done on purpose
[11:22] <Jay> so i dont watCH THE BS
[11:22] <Jay> and contaminate
[11:22] <Jay> my frame of reference
[11:22] <Jay> its toxic
[11:23] <Jay> to watch a flat choppy market
[11:23] <Jay> it draws u in
[11:23] <Jay> nothing noble about sitting in front the screen
[11:23] <Jay> for 3 hrs thru deadzone
[11:23] <Jay> all u do is place yourself in a situtaion
[11:23] <Jay> to get sucked in
[11:23] <Jay> and chopped away
[11:23] <Jay> understand my point??
[11:23] <shammer> ofcourse
[11:23] <Jay> the other thing is i believe people have sharpness gauges
[11:23] <Jay> alert and sharp off the open
[11:24] <Jay> thats gotta be replensihed
[11:24] <Jay> that only happens away from the screens
[11:24] <Jay> but first thing first, gotta look at your days
[11:24] <Jay> and see what u avg on green days
[11:24] <Jay> and what u avg on red days
[11:24] <Jay> figure out the containment zones
[11:24] <Jay> for example:
[11:25] <Jay> $200 upside gains easy most days, -$300 doesnt phase me
[11:25] <Jay> just an example
[11:25] <Jay> but u say to yourself, the days i get nailed is when i srop over $1k
[11:25] <Jay> thats when i start acting stupid
[11:25] <Jay> bamm theres your abyss line in the sand
[11:26] <Jay> once u hit daily threshold, u take a break
[11:26] <Jay> pump
[11:26] <Jay> release
[11:26] <Jay> come back tighten filter and slowly add
[11:26] <Jay> to it
[11:26] <Jay> like a sculpture
[11:26] <Jay> pump
[11:26] <Jay> then step away
[11:26] <Jay> release
[11:26] <Jay> if u got red, relax, and slowly grind back
[11:27] <Jay> u get near the abyss level
[11:27] <Jay> means something is wrong
[11:27] <Jay> so cut it off
[11:27] <Jay> seomthing is wrong , you are not aligned with the market or whatever
[11:27] <Jay> tommorrow is another day
[11:27] <Jay> live to fight another day
[11:28] <Jay> u build a natural rhythm this way
[11:28] <Jay> so anyway, go back, dont generalize
[11:28] <Jay> and see what your easily hittable goal is
[11:28] <Jay> then the plateau
[11:28] <Jay> do u usually peak out at +500
[11:28] <Jay> then start to give it back
[11:28] <Jay> thats the plateau level
[11:28] <Jay> thats where u got to be MOST CAREFUL
[11:28] <Jay> where normally people get a little arrogant there
[11:29] <Jay> and what happens when u get arrogant?
[11:29] <Jay> figure u got some cushion to play with
[11:29] <Jay> u lose
[11:29] <Jay> slowly and then faster
[11:29] <Jay> getting chopped
[11:29] <Jay> am i right?
[11:29] <c> yes
[11:29] <Jay> the ego cant accept giving back all the green and then going deeper into the red
[11:29] <Jay> so u keep pushing
[11:29] <Jay> into the hole
[11:29] <Jay> so the problem
[11:30] <shammer> you just review what i have been doing wrong for the past 6 years..
[11:30] <Jay> is thAT PLATEAU level
[11:30] <Jay> that is your problem
[11:30] <Jay> when u get to that plateau level
[11:30] <Jay> is where u are MOST VULNERABLE
[11:30] <Jay> so whats the solution?
[11:30] <Jay> any ideas?
[11:31] <Jay> throw'em in there
[11:31] <c> walk away
[11:31] <scooter> see a good therapist
[11:31] <c> knowing your weakness is a strength
[11:32] <fishtrader> drink more
[11:32] <issorr> tx to whoever pointed out ima yesterday
[11:32] <booboo> i second that one fish
[11:32] <fishtrader> ;-)
[11:32] <shammer> I have bought few books on Meditation..i hope this will help me to control my actions
[11:32] <maxx> Understand your weakness
[11:32] <scooter> good plan, shammer
[11:33] <Jay> yes walk away
[11:33] <Jay> but
[11:33] <Jay> only come back and turn on platform
[11:33] <Jay> when u get a perfect storm
[11:33] <Jay> and u trim size
[11:33] <Jay> its defensive
[11:34] <Jay> but thats how u do it
[11:34] <Jay> so u will grind a couple +1100-1500 days
[11:34] <Jay> also u call it a day
[11:34] <Jay> once that daily goal level is hit on drawdown
[11:34] <Jay> get something straight
[11:34] <Jay> if u make just $1 a day
[11:34] <Jay> you are in the 10 percentile
[11:34] <Jay> of traders
[11:34] <Jay> lol
[11:34] <Jay> just being green
[11:34] <fishtrader> lol
[11:35] <Jay> remember that
[11:35] <Jay> lol
[11:35] <scooter> so true
[11:35] <Jay> live to fight another day especially when the environment is crap
[11:35] <scooter> ... and the other 90% still say they are making money
[11:35] <Jay> well they did scooter
[11:35] <Jay> they just didnt keep it ;P
[11:36] <Jay> making it aint hard
[11:36] <Jay> keeping it
[11:36] <Jay> is the real work
[11:36] <scooter> yep
[11:37] <fishtrader> one of the indications for me that my trading was advancing was that when I was having a nasty day...I could step away from the screens, collect myself, wait for key setups and trim down size, and turn the red back to green
[11:37] <shammer> I have been right more then %85 on my trades, But my major issue I have is that, sometimes I trade a large size out of no where, then if it goes on my direction I take my profit very quickly, but if it goes against me, then I sit and Pray and take a very, very large lost. This morning I shorted 8000 GMRN at around 73:10, then it went down I covered all at around 72:75 and see the stock went down a
[11:38] <fishtrader> may only be a few bucks green ....but a little green or even feels pretty good when you are 1k or more in the hole
[11:38] <c> jay thanks
[11:39] <scooter> yep - some of the best advice i've ever heard, Jea - thx
[11:39] <shammer> another 6 point in the next 15 minute. But if it has gone against me, most likely I would have take 4 to 6 k or more loses. That is very sad.
[11:39] <Jay> indeed fish
[11:39] <Jay> shammer, thats too huge a size
[11:39] <Jay> to play on grmn
[11:40] <Jay> very tough to liquidate that kinda size
[11:40] <fishtrader> yep...asking for fill trouble
[11:40] <fishtrader> on grmn
[11:40] <Jay> gotta stay in your comfort zone
[11:40] <Jay> otherwise desprate kicks in
[11:41] <c> and emotions kick in
[11:41] <Jay> at that point u are trading the $$ not the stock apathy if lost
[11:42] <shammer> i keep telling myself "why, why,why"..u doing this.. I have not been able to trade small size for more then two week, then suddenly greed take a to large size again
[11:42] <shammer> and that's how i lose ..
[11:42] <booboo> u are gambling at that point shammer
[11:43] <shammer> u r absolutly right
[11:43] <c> jay I take profits to quick and have np taking stops should time and allocation fix this
[11:50] <maxx> I'm right there with you c
[11:52] <c> I guess with your methods of market clarity and time it will but profit consistency is increasing well proper enviroment
[11:52] <c> and proper enviroment
[11:53] <issorr> sirf...wow
[11:53] <tracker> cover ice +2.0
[11:53] <c> nice
[11:54] <shammer> I want to copy/past the above statement from Jay for dailly review..is there any way i can copy this?
[11:54] <Jay> shman just go to daily log
[11:54] <shammer> thx a lot
[11:56] <Jay> noodles been oscillating on the 60 min charts
[11:57] <Jay> 60 min noodles still tight on thema's and bbs
[11:58] <maxx> Jay, what are your bb settings?
[11:58] <Jay> 20 period 2 standard deviations
[11:59] <maxx> ty
[11:59] <Jay> np
[11:59] <Jay> taking a deadzone break here
[11:59] <Jay> will pop in and out
[11:59] <Jay> feel free to hang n chat
[11:59] <Jay> but please dont get caught up in the chop
[12:00] <c> np
[12:00] <Jay> be back in a bit
[12:00] <fishtrader> k
[12:02] <c> erts turning around fish
[12:03] <fishtrader> yep
[12:03] <fishtrader> moving with noods now
[12:03] <fishtrader> was a total buyfader earlier this am
[12:07] <c> well it was turning chop and slop
[12:07] <shammer> got quick short on aapl .85
[12:08] <c> wtg sham
[12:08] <booboo> 20,000 shares? lol wtg sham
[12:09] <shammer> no not that time :)-
[12:09] <shammer> 400 only
[12:09] <c> green is green
[12:09] <shammer> maybe i should not have shared my bad habit,u guys will keep joking with now
[12:10] <booboo> trust me, been there, done that
[12:11] <shammer> I believe u ...
[12:12] <fishtrader> nice clip sham
[12:12] <fishtrader> boo...what hospital were you at in Naperville?
[12:13] <booboo> edward
[12:13] <fishtrader> that's right
[12:13] <fishtrader> tks
[12:13] <dodge> sham - if you have thin skin - you will bleed to death with this crowd :-)
[12:13] <dodge> lot of kidding
[12:14] <c> synergy is good when you mention trading to a person who has'nt been their reply doe'st heip at least not for me
[12:14] <trent> does anyone else find that streaming orn slows down their trading connection? And what do you usually do about it?
[12:14] <trent> porn
[12:14] <scooter> shammer, good folks in here - one of the only rooms where i haven't ever seen maliciousness - kidding is all good natured
[12:15] <c> lol trent
[12:15] <shammer> ofcourse..I love kidding
[12:15] <shammer> Laughing is the best thing that you can do
[12:15] <fishtrader> have separte dsl for porn trent
[12:16] <trent> "broad" band eh?
[12:16] <fishtrader> :-)
[12:16] <booboo> lol
[12:17] <trent> >: )
[12:17] <c> got go for real this time cya AM
[12:18] <fishtrader> cya c
[12:18] <fishtrader> congrats on the fine day
[12:18] <trent> keep those wrists covered.
[12:25] <dodge> aapl nice grind
[12:32] <dodge> fish look at MOS now - took off my screen - nice bounce
[12:33] <booboo> same with mon. was down 8
[12:34] <fishtrader> wow
[12:34] <dodge> sheese - have to be watching the right stocks at the right time-
[12:34] <fishtrader> yup
[12:35] <fishtrader> that's when the 3rd eye comes in handy
[12:35] <dodge> heeee hee
[12:35] <booboo> i let my lab scan for stocks but he always chooses orvis and petco
[12:36] <dodge> lol
[12:48] <fishtrader> drys long +1
[12:48] <fishtrader> 3m tightening
[12:48] <fishtrader> 13m
[12:49] <fishtrader> started buyfading that last noods slip
[12:54] <dodge> wtg fish
[13:02] <fishtrader> tx d
[13:07] <fishtrader> noods stuck here
[13:07] <fishtrader> just a chop zone
[13:07] <fishtrader> 60m mas/13m mas
[13:07] <dodge> yup
[13:07] <fishtrader> no clarity here
[13:08] <fishtrader> did happy hour start yet?
[13:12] <trent> call it
[13:12] <fishtrader> :)
[13:13] <dodge> needs to -
[13:15] <trent> just not used to these 5 day trading weeks -- feels like friday.
[13:17] <klc4570> it's 5 o'clock somewhere....
[13:19] <Jay> still deadzone here
[13:19] <Jay> lyts dumped after halt
[13:19] <Jay> rimm has 60/weekly and daily min inv pups
[13:19] <Jay> keep an eye on it post deadzone
[13:19] <Jay> TRADING ALERT: Consdier a SHOR RIMM 94.30 - Always use a protective stop loss!
[13:21] <Jay> key breaks
[13:21] <Jay> trim some near 94.05
[13:22] <Jay> listen on RIMM am gonna be looking to short and add pares n this one bias is the short side daily, weekly and 60 min mini inv pups
[13:24] <Jay> leeens
[13:24] <Jay> noodles 1/3/8 min mini inv pups
[13:29] <Jay> on rimm 94.80 x 95 primo spots to add if it spikes there near 60 min 5
[13:29] <Jay> tho not likely
[13:30] <Jay> in order to take out 94 it has to suck in buyers and then pull the rug
[13:30] <Jay> leeens noodles
[13:31] <Jay> rimm leeens
[13:37] <Jay> RIMM clip out the rest for now unless u are willing to ADD higher
[13:37] <Jay> TRADING ALERT: RIMM clip leans
[13:37] <klc4570> nice call again, thx J
[13:37] <Jay> wow LOCK leans
[13:37] <Jay> TRADING ALERT: LOCK leans under 94
[13:38] <Jay> 60 min lower bbs tagged on that
[13:38] <klc4570> ahh, out too soon, oh well, green is green
[13:39] <Jay> TRADING ALERT: Consdier a SHORT RIMM 93.80 - Always use a protective stop loss!
[13:39] <klc4570> Jay, were the 60/daily min inv pups what caught your eye initially/
[13:40] <Jay> aapl pukage
[13:40] <klc4570> ?
[13:41] <Jay> leeeens
[13:41] <Jay> clip/pare to 93.35 on the leans thru .50
[13:43] <Jay> leeeeeen
[13:43] <Jay> 93.50 breaks
[13:43] <Jay> here we go work the panics
[13:43] <Jay> TRADING ALERT: RIMM clip/pare 93.45 x 93.33
[13:43] <Jay> remember .30 x .20 are coil supports
[13:44] <Jay> work leans 1 min low abnd mini inv pu lean
[13:44] <Jay> anyone hit rimm second entry?
[13:44] <tracker> here jay
[13:44] <trent> y - thx J!
[13:44] <klc4570> nope, but kicking self in ass now
[13:45] <ziplips> RIMM short .35 clip thanks Jay
[13:45] <coztuck> y...thanks J
[13:45] <Jay> wtg gang
[13:45] <klc4570> nice set of calls Jay
[13:45] <Jay> TRADING ALERT: RIMM LOCK out
[13:45] <Jay> 93.20s ok
[13:45] <Jay> aapl coiled
[13:45] <Jay> watch with aapl always
[13:45] <coztuck> rimm lod
[13:46] <Jay> anyhting under 93.20 is a gift
[13:46] <Jay> remember rimm doesnt break round number on first tries usually
[13:46] <coztuck> wow
[13:46] <Jay> whoa unless
[13:46] <coztuck> dang
[13:46] <Jay> the selling is huge
[13:46] <klc4570> nk
[13:46] <Jay> wow
[13:46] <scooter> got 93 and i'm happy
[13:46] <Jay> beautiful scooter
[13:46] <Jay> great fill
[13:46] <coztuck> nice Scooter
[13:46] <klc4570> wtg scooter
[13:47] <scooter> gotta get lucky every now and again
[13:47] <ziplips> amzn down over 6..don't like the retailers i front of same store sales tomorrow morning
[13:47] <scooter> but still lookin' early!
[13:47] <Jay> wow nice panic noodles
[13:48] <Jay> dont chase rimm down in those 2.50 levels
[13:48] <Jay> extreme here dont chase shorts down her enow
[13:49] <fishtrader> out last of it 92.65
[13:49] <Jay> beautiful fish
[13:49] <fishtrader> nice call Jay tks
[13:49] <klc4570> pro
[13:51] <fishtrader> was lookin' for 62.40
[13:51] <fishtrader> may still come
[13:51] <fishtrader> but felt it was ready for a coil
[13:51] <klc4570> 92?
[13:51] <fishtrader> doh
[13:51] <fishtrader> sorry
[13:51] <fishtrader> lol...92
[13:52] <fishtrader> tho 62 better
[13:52] <klc4570> .16 rimm long, couldn't stop myself
[13:52] <fishtrader> callin' it a day here gang
[13:52] <fishtrader> got a few things to take care of
[13:53] <fishtrader> will catcha all tomorrow
[13:53] <klc4570> cya fish
[13:53] <coztuck> later Fish
[13:53] <scooter> klc - nice
[13:53] <Jay> take care fish
[13:53] <tracker> cya fish
[13:54] <fishtrader> cya guys
[13:54] <fishtrader> tks for the calls Jay
[13:54] <fishtrader> nice work today
[13:54] <fishtrader> apol grmn rimm sirf
[13:54] <fishtrader> good stuff :)
[13:55] <Jay> :)
[13:55] <Jay> take it easy here now gang, slow it down
[13:55] <Jay> once again more chop out there
[13:58] <dodge> later fish-
[14:01] <klc4570> Question Jay--what put you to rimm initially? the daily/60 min charts? or?
[14:01] <Jay> TRADING ALERT: Consdier a SHORT RIMM 92.75 - Always use a protective stop loss!
[14:03] <Jay> CLIIP 92.30s x 92.10
[14:03] <Jay> 91.90 x 92 is daily lower bbs on RIMM on mini inv pups
[14:03] <Jay> but round numbers tough to crack
[14:03] <Jay> on first tests unless we get hard dumpage if aapl cracks the .30
[14:04] <Jay> TRADING ALERT: RIMM CLIP/pare 92.20 x 92.10
[14:05] <Jay> TRADING ALERT: RIMM LOCK 91.80s
[14:05] <klc4570> bingo
[14:05] <Jay> daily lower bbs HIT
[14:05] <Jay> lock
[14:05] <scooter> my my
[14:05] <Jay> anyone get some?
[14:05] <klc4570> wow, dumpage
[14:05] <scooter> i was there
[14:05] <Jay> was a tuff fill at .70s
[14:05] <klc4570> .40, got in late...but better late than never
[14:05] <Jay> but premises were key
[14:05] <trent> no fill -- too fast.
[14:05] <Jay> 1907 noodles coil
[14:06] <trent> nice call tho!
[14:06] <mike82> took smal scalp all i want to be doing right now
[14:06] <ziplips> no fill at .70
[14:06] <Jay> wtg gang tuff fill dont sweat it
[14:06] <klc4570> Jay, what got you onto the rimm play initially? 60/daily? aapl?
[14:07] <klc4570> what did you look for initially
[14:07] <Jay> klac 60/miin mini inv pu pdaily and weekly mini inv pups
[14:07] <klc4570> and what sequence do you use to confirm?
[14:07] <Jay> basically a wider time frame perfECT STORM DOWN
[14:07] <klc4570> so you look at th edaily, then the 60, and so on...
[14:07] <Jay> yep
[14:07] <klc4570> were you looking at aapl as well as the noodles/
[14:08] <tracker> same klc took .50 on rimm
[14:08] <Jay> noodles coil off 1907
[14:08] <Jay> coil supports
[14:08] <Jay> yes klc
[14:08] <klc4570> nice tracker
[14:08] <klc4570> thx jay
[14:08] <scooter> MBI strong on the long side if it ever comes today
[14:08] <klc4570> nice danged calls
[14:11] <Jay> 1907 retests
[14:11] <Jay> breaks
[14:12] <Jay> 1903 next coil resistance
[14:12] <Jay> getting ufly
[14:12] <dodge> aapl really getting a lean
[14:13] <Jay> aapl so much for macworld
[14:13] <Jay> TRADING ALERT: Coinsdier a BUY AAPL 169 - Always use a protective stop loss!
[14:14] <Jay> 3 min noodleshammer
[14:14] <Jay> need 1907 breaks
[14:14] <Jay> here we go
[14:15] <Jay> trim up to 169.30
[14:15] <Jay> on aapl the trail is 1603 breaks on the noodoesl
[14:15] <Jay> 1603 break is trail stop on aapl noodles based
[14:15] <Jay> mneanwhile if scaling clip/pare up to 169.10 x .30 and keep ranging
[14:15] <Jay> noodles coil 1908
[14:15] <Jay> pops
[14:15] <Jay> grind
[14:16] <Jay> grind noodles 3 min hammer 3 min 5 tests
[14:17] <Jay> TRADING ALERT: AAPL trim 169.20 x .30
[14:17] <Jay> new trail on aapl is noodles 1907 breaks
[14:17] <Jay> capiche???
[14:17] <Jay> 1907 break is trail stop on rest of aapl
[14:17] <Jay> meanwhile trim 169.50 x .75
[14:18] <Jay> noodl.es 8 min 5 tests
[14:18] <scooter> si capiche
[14:18] <klc4570> si capo
[14:18] <Jay> TRADING ALERT: AAPL trim out more 169.40 x .60
[14:18] <Jay> watch the noodles
[14:19] <Jay> 1910 was 8 mn 5 tough ressitance still alive
[14:19] <Jay> 1907 breaks is trail stop on aapl
[14:19] <Jay> 1910 retests
[14:19] <Jay> cmon piggy
[14:19] <Jay> crack it
[14:19] <Jay> here we goooo
[14:19] <Jay> TRADING ALERT: AAPL 169.50 x .70 trim
[14:19] <Jay> 1911 noodles
[14:19] <klc4570> yes--
[14:19] <Jay> 1913 is next coil resistance
[14:19] <Jay> new trail 1909
[14:19] <Jay> trail 1909 break on noodles for aapl
[14:20] <klc4570> another nice call, I am in awe
[14:20] <Jay> grind noodles 1912
[14:20] <Jay> 1913 is A COIL RESITANCE scalprs ok to LOCK
[14:20] <Jay> or trim out more here
[14:20] <Jay> 1913 tests nnoodles
[14:21] <Jay> 169.80 x 170.10 aapl
[14:21] <Jay> her we go
[14:21] <Jay> 1913 noodles
[14:21] <Jay> coil resitsance here overshoots
[14:21] <Jay> TRADING ALERT: AAPL ok to lock
[14:21] <Jay> 169.90s x 170.10
[14:21] <Jay> beautiful
[14:21] <Jay> who nailied it?
[14:21] <Jay> 1913 coil resitance noodles
[14:21] <Jay> leave it at that 13 min 5 resistance as well
[14:22] <Jay> back in the brushes and waiting
[14:22] <klc4570> here, thx J
[14:22] <Jay> who scored??
[14:22] <Jay> wtg klc
[14:22] <trent> gots some thx!
[14:22] <Jay> nice trent
[14:22] <Jay> noodles see that?
[14:22] <Jay> 1913 coil resitance peak and slip
[14:22] <klc4570> wtg Jay, you're picking 'em
[14:22] <Jay> let them duke it out
[14:22] <Jay> just sit back in cash
[14:22] <Jay> and watch
[14:22] <klc4570> dang nice
[14:22] <bluedog> gorgeous jay,....not trading today,...still getting platform squared away,...but beautiful play
[14:22] <Jay> tx guys
[14:23] <Jay> great exits on aapl
[14:23] <Jay> slow it down again
[14:23] <Jay> infact
[14:23] <Jay> waiting til last hour now
[14:23] <Jay> no new trades here
[14:23] <Jay> what action wow!
[14:26] <Jay> noodles thrusts 1917 net
[14:26] <Jay> next resitance
[14:26] <Jay> aapl fading
[14:26] <Jay> not touching it or anything here
[14:26] <Jay> waiting out 3pm candle
[14:27] <Jay> actually could be lagging rather than fading so leave it alone
[14:28] <dodge> aapl long scalp +.50
[14:28] <Jay> wtg d
[14:28] <Jay> noodles back to 60 min lower bbs
[14:28] <dodge> thanks J
[14:28] <dodge> wow left a little on the table
[14:29] <dodge> but trading too many shares not to take the scalp
[14:31] <dodge> need to reboot brb
[14:32] <Jay> lol
[14:32] <Jay> just a little
[14:32] <bluedog> what does anyone have for noodles 60 min lower bbs....cobra is 1905.75
[14:34] <scooter> GRMN perking up again
[14:35] <pwetsig> Jay...dow futures traded one tick above aug 07 low of 12549....may be turn around time ?
[14:36] <Jay> pwet its chasing at this point
[14:36] <Jay> noodles 60 min 5/15s key tests
[14:36] <Jay> if we can break back thru 1934.25 then big daily hammer
[14:37] <Jay> tempting to chase but gotta stay safe
[14:37] <Jay> thtas why 3pm candle important
[14:37] <Jay> would form ahmmer across the board
[14:37] <pwetsig> Maybe dow bounce to13000 or so
[14:37] <Jay> but a lot can happen in next 20 min s
[14:38] <Jay> stick to the charts
[14:38] <Jay> on aapl will watch 5min 5 on pullbacks to see how it reacts
[14:38] <Jay> just under 171
[14:39] <Jay> noodles slip back under 1923 coil support
[14:43] <Jay> coils
[14:43] <Jay> TRADING ALERT: Consdier a BUY AAPL 172 - Always use a protective stop loss!
[14:44] <Jay> coil reistan ceovershoots 1927
[14:44] <Jay> next 12 mins bulls need to drive us to 1934
[14:44] <Jay> 1930 overshoots noodles
[14:44] <Jay> as we get near 1932 trim aapl
[14:44] <dodge> sweet j
[14:45] <Jay> TRADING ALERT: AAPL trim some 172.70 x .80
[14:45] <Jay> 1933 overshots
[14:45] <Jay> 1934.50 KEY break
[14:45] <Jay> noodles
[14:45] <Jay> trim more up to 173.26
[14:45] <Jay> TRADING ALERT: trim 173.20 x .35
[14:45] <Jay> 1937 is key braek now trail 1932 breaks on aapl if pared light
[14:46] <Jay> for possible break back thru 1937 key break
[14:46] <Jay> 1932 noodles is trial stop on rest of aapl
[14:46] <Jay> noodles 1936
[14:46] <Jay> 1937 key coil resitance breaks
[14:47] <scooter> stayed in GRMN for the swing... took some heat... but feeling good at the moment
[14:47] <Jay> weeeee
[14:48] <Jay> TRADING ALERT: AAPL LOCK 173.60 x .75
[14:48] <klc4570> you maniac
[14:48] <dan28> damn j - u on fire
[14:48] <Jay> anyone hit it?
[14:48] <klc4570> I took a walk....when you're hot, you're hot
[14:48] <Jay> 3 min possible star noodles
[14:48] <Jay> 1933 is key support
[14:48] <scooter> naw was away for the call - dang
[14:49] <trent> missed entry but I'm with scooter GRMN from 70.8 - still light shares
[14:49] <Jay> wtg trent
[14:49] <scooter> i was light so didn't pare when i could've on GRMN
[14:49] <Jay> listen up gang
[14:49] <Jay> as we go into last hour
[14:50] <Jay> RESIST the temptation
[14:50] <Jay> to use large size
[14:50] <trent> aapl moved fast from 172 - like a launchpad
[14:50] <Jay> trim down
[14:50] <Jay> bulk of green made
[14:50] <dodge> ok - I hear you - lol
[14:50] <Jay> pls do not get greedy and load up size in last hour
[14:50] <rigs1> nice call Jay!
[14:50] <Jay> use light light shares so u dont give back much
[14:50] <Jay> remember what i said
[14:50] <Jay> when u are up is when u are most vulnerable
[14:50] <klc4570> ha ha, I was just toying with the idea of bumping up my share size.....you're reading minds today too ;-)
[14:51] <Jay> arrogance is a b*tch
[14:51] <Jay> tx rigs
[14:51] <Jay> noodles 3 min star
[14:51] <Jay> no waiting out 3pm
[14:51] <Jay> now waiting it out
[14:51] <klc4570> ok, I'm gonna cut the size in 1/2, thanks for keeping the greed down
[14:51] <scooter> following up on some of the discussions earlier today, for any trader not aware of it, there's a very good free newsletter dealing with trader psychology available through MarketWise.com called the Mental Edge
[14:52] <klc4570> mmn...thanks scooter
[14:52] <Jay> 1934.50 they chopping around there
[14:52] <Jay> because it daily lower bbs
[14:52] <Jay> very signifcant level
[14:52] <Jay> chop zone anywhere within 3pts of that level
[14:52] <rigs1> keep this up Jay and you are going to COMPLETELY change my trading style
[14:53] <Jay> rigs, some markets are good to scalp some to swing, this is a scalpers market ;)
[14:53] <rigs1> see that...nice work
[14:54] <Jay> :)
[14:56] <Jay> last hour
[14:57] <scooter> Jea, what's the best ways to differentiate the two?
[14:57] <coztuck> +1 small shares rimm long
[14:58] <scooter> there are times when my swing trading is great, and some times when it's a royal pain
[14:59] <Jay> wtg coz
[14:59] <Jay> scalper slow steady trending 60 min noodles are good to range swing
[15:00] <scooter> ok thx
[15:01] <Jay> keep in mind
[15:01] <Jay> 60 min noodles moving averages
[15:01] <Jay> have been FLAT all day
[15:01] <Jay> no trend channel
[15:01] <scooter> ah
[15:01] <Jay> TRADING ALERT: 174.30 light - Always use a protective stop loss!
[15:02] <Jay> trim .70 x .80
[15:02] <Jay> scalpers
[15:03] <dodge> oih nice grind and xom :-)
[15:03] <klc4570> wow
[15:03] <ziplips> squeezing them good ..here
[15:03] <Jay> aapl anyone clip that pop?
[15:04] <Jay> back to cash if not clipped here
[15:04] <coztuck> y.
[15:04] <coztuck> thanks Jay...out at .77
[15:04] <Jay> that was a pivot and coil resistance
[15:04] <klc4570> yep, quick though
[15:04] <Jay> REMEMBER
[15:04] <Jay> .75 is a COIL RESITANCE
[15:04] <Jay> and .30
[15:04] <Jay> so if u get a fast pop
[15:04] <Jay> ALWAYS be raeady to trim just ahead of the .75
[15:04] <coztuck> Happy belated birthday Elvis...i guess it was yesterday
[15:04] <klc4570> fumbled, out at .64
[15:04] <klc4570> but still $
[15:06] <Jay> wtg klc
[15:07] <Jay> slow it down here
[15:07] <dodge> I really wanted to short aapl at 175 but resisted lol
[15:07] <Jay> 3 min 5 noodles first real test
[15:08] <Jay> watch out for possible 8 min star noodles if they crack the 3min 5 1943
[15:09] <Jay> 8 min noodles star
[15:11] <Jay> pretty wild how the 60 min noodles are still flat
[15:12] <Jay> too choppy here
[15:14] <dodge> oih strong here
[15:14] <Jay> noodles pivot tests
[15:15] <Jay> TRADING ALERT: Consdier a BUY AAPL 175 light - Always use a protective stop loss!
[15:16] <Jay> 5 min mini pup
[15:16] <Jay> TRADING ALERT: AAPL back to cash
[15:17] <Jay> noodles slipped
[15:17] <Jay> 3 min star, that 1953 was just too strong a resistance
[15:17] <Jay> light is the key word
[15:18] <klc4570> ...glad you warned us to go light, I was all cranked up to get greedy, and would have gotten slapped down, thx Jay...again
[15:19] <coztuck> heree we go
[15:19] <Jay> tough chop here
[15:20] <Jay> aapl has a 5 min mini pup needs noodles tho
[15:21] <Jay> TRADING ALERT: Consdier a BUY AAPL 175..30 x .20 - Always use a protective stop loss!
[15:21] <Jay> very light on pullbacks
[15:22] <Jay> 5 min mini pup so trail is gonnaa be under the 5 min 5
[15:22] <klc4570> .22,
[15:22] <Jay> 174.50 is trail very light shares very light
[15:22] <klc4570> good squirrel caliber :-)
[15:23] <Jay> this one is gonna be more of a range attempt
[15:25] <Jay> noodles not helping
[15:25] <Jay> TRADING ALERT: AAPL back to cash
[15:26] <Jay> staying out here
[15:27] <klc4570> pare rimm cover .20
[15:27] <Jay> the very light shares are key so u dont get hurt too bad
[15:27] <Jay> 13 min 5 test noodles
[15:27] <klc4570> yep, so I don't deplete my adrenal glands, too
[15:27] <coztuck> at DG....no trades now for me.
[15:27] <Jay> wtg klc
[15:27] <klc4570> thx J
[15:28] <klc4570> out now
[15:30] <Jay> noodles too choppy here
[15:32] <tracker> clip appl +.40
[15:32] <Jay> wtg tracker
[15:32] <tracker> ty
[15:32] <Jay> etfc funny 3 min chart
[15:32] <tracker> just couldn't break that 175.50
[15:32] <Jay> those are real trades i think went from 2.10 to 2.60 and back down
[15:33] <Jay> etfc pulled a CFC and said no bancruptcy
[15:33] <Jay> NEWS ALERT: E*Trade CEO: Not Worried About Bankruptcy - DJ (2.45 +0.20)
[15:33] <Jay> sounds familiar
[15:33] <Jay> replace the ET with a C
[15:33] <Jay> hehe
[15:33] <Jay> last 20 min s
[15:34] <gander> HE's not worried because he sold a big chunk of his stock last year
[15:34] <Jay> TRADING ALERT: Consdier a BU YAAPL 175.90 - Always use a protective stop loss!
[15:35] <Jay> 5 min has a mini pup
[15:35] <Jay> will take it overnight
[15:35] <Jay> if we dont get 177 into close
[15:36] <Jay> looking for 177 x 177.50
[15:36] <Jay> squeeeze mini pup
[15:36] <Jay> if scalping naturally .75 coil resitance
[15:36] <Jay> so can trim near there
[15:37] <Jay> otherwise trim n range UP
[15:37] <Jay> saqueeeeze
[15:39] <klc4570> yee haw
[15:39] <Jay> weeeeee
[15:39] <Jay> trim some
[15:40] <Jay> TRADING ALERT: trims ome 177.50
[15:40] <Jay> ride out the rest small
[15:40] <Jay> into the close
[15:40] <Jay> even for overnight possible
[15:40] <Jay> very very light tho
[15:41] <Jay> noodles 8/13 min duyal mini pups trying
[15:42] <Jay> 178 is 5min new upper bbs .75 key break
[15:42] <Jay> 1957 needs to crack
[15:42] <tachyon2> out +1.5 aapl beautiful
[15:42] <klc4570> nice tach
[15:43] <Jay> beautiful tach
[15:43] <tachyon2> thx Jay klc
[15:44] <Jay> definitely trim out most up here, the small lot is for a lotto ticket last 10 in squeeze
[15:44] <Jay> basically house's money trail even on the very last lot
[15:47] <Jay> squeeeze
[15:48] <Jay> 178
[15:49] <Jay> squeeeze
[15:50] <Jay> dual mini pups
[15:50] <Jay> 1957 key breaks
[15:50] <Jay> weeee
[15:50] <Jay> TRADING ALERT: AAPL trim out more 178.50 x .70
[15:51] <klc4570> awesome Jay
[15:51] <klc4570> stinkin' awesome
[15:51] <Jay> LOCK out the rest up here up to 179
[15:51] <tachyon2> nothing left to trim :-). moving really well!
[15:51] <monico123> thanks J!
[15:51] <Jay> TRADING ALERT: AAPL LOCK it out
[15:51] <monico123> have a nice one everyone....we'll see you in the am....
[15:52] <gander> FSLR climbed all the way from -20 pts to now +4
[15:52] <Jay> anyone nail that one?
[15:52] <Jay> tasty
[15:52] <trent> thx J!
[15:52] <coztuck> y..nice call Jay
[15:52] <Jay> last 4 mins
[15:52] <klc4570> yep, small shares $2+
[15:52] <tachyon2> love moves like this
[15:52] <Jay> wtg klc
[15:52] <Jay> what a day
[15:52] <klc4570> nk
[15:53] <Jay> compare this to mid decemeber actiuon
[15:53] <Jay> like night n day
[15:53] <klc4570> you ought to post today's action somewhere besides your site, this was utterly amazing
[15:53] <coztuck> y
[15:53] <Jay> all in a days work klc ;)
[15:53] <Jay> like i said
[15:53] <Jay> volume and followthru all we need
[15:53] <coztuck> impressive noodles
[15:53] <Jay> earnings season brings that
[15:54] <coztuck> its about time
[15:54] <Jay> usually peak periods start a week before and last 2 weeks after earnings season
[15:54] <Jay> we suffered thru that december valley period
[15:54] <Jay> for these types of moves
[15:54] <scooter> GRMN daily hammer
[15:54] <scooter> lovin' it
[15:54] <Jay> noodles nice end of day perfect storm
[15:54] <Jay> 3/8/13 min mini pups
[15:55] <tachyon2> Jay in addition to earning this period is even more volatile because of all the subprime problems etc
[15:55] <Jay> yep
[15:56] <Jay> aapl last minute pops lock it out unless u want to overnight it and trail even nice high of day close
[15:56] <Jay> 179.50
[15:56] <klc4570> done here, thanks Jay, all, cya
[15:56] <Jay> funny, had 50 shares left of aapl i didnt even notice
[15:56] <Jay> just dumped
[15:56] <tachyon2> wow nice Jay
[15:56] <Jay> how did u do today gang?
[15:56] <Jay> who HELD the green?
[15:57] <tachyon2> pretty good +1.3K here
[15:57] <trent> good day.
[15:57] <Jay> making it not enuff, gotta keep it
[15:57] <Jay> exceLLENT TACH!
[15:57] <tachyon2> thx Jay
[15:57] <solo> Very nice day thx Jay
[15:57] <Jay> wtg solo, trent
[15:58] <Jay> ok gang, get some rest
[15:58] <Jay> cyall bright n early in the morning
[15:58] <Jay> night gang, pooof :)
[17:22] <dodge> aapl grinding -