wclegg3@comcast.net says (2:07 PM):
Got bumped off again! Please reconnect me. Thanks!
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Tom says (2:07 PM):
ok
RV says (2:08 PM):
ok
Tom says (2:08 PM):
84 dow down
Tom says (2:08 PM):
shorts
Craig says (2:08 PM):
Tom, Stop it. I am having a hard time following you.
Tom says (2:08 PM):
me too
Craig says (2:08 PM):
Well, that can't be good.
Tom says (2:10 PM):
msn ..is horrible
Tom says (2:10 PM):
lately
Tom says (2:11 PM):
msft ....puts
Tom says (2:11 PM):
...too stable
Tom says (2:12 PM):
bears are getting their courage up
Tom says (2:12 PM):
we could really drop
Frank says (2:13 PM):
wait till the buy the dippers show up. we'll see how much courage they have.
Tom says (2:13 PM):
it's over frank ..bear is back
Tom says (2:13 PM):
aapl 185.00
Tom says (2:14 PM):
puts
Tom says (2:14 PM):
moo puts
Tom says (2:14 PM):
xom puts
geckojb@yahoo.com says (2:15 PM):
got puts on GME
Frank says (2:17 PM):
could never do that, my son keeps their earnings up!!
geckojb@yahoo.com says (2:17 PM):
I bet
geckojb@yahoo.com says (2:17 PM):
How old?
Frank says (2:18 PM):
think of all the refund checks that get spent there
Frank says (2:18 PM):
14
geckojb@yahoo.com says (2:18 PM):
u don't let him play GTA 4?
Frank says (2:18 PM):
no
geckojb@yahoo.com says (2:18 PM):
crazy game
Frank says (2:19 PM):
why you think its going down?
geckojb@yahoo.com says (2:19 PM):
technicals...though some are diverging from others.
geckojb@yahoo.com says (2:20 PM):
If you notice I keep risk very low..will enter into puts/longs close to the exit doors in case I am wrong. GME stop is 54
Tom says (2:20 PM):
this is the real deal selloff
geckojb@yahoo.com says (2:20 PM):
cool I am so loaded up with puts
Tom says (2:21 PM):
lets see how bad we missed our MZZ trade from today and our FXP trade from yesterday ???
Dave says (2:21 PM):
Tom, then should we not be holding puts?
geckojb@yahoo.com says (2:21 PM):
volume is missing Tom
Tom says (2:22 PM):
Dave ..I suggest just keep selling 10% off each drop ..I would sell some more here if i were you ..are you 80% short now dave ???
Tom says (2:23 PM):
DRYS still flying
Dave says (2:23 PM):
I sold 50% of my puts
Tom says (2:23 PM):
I would now rather be in 2x inverse etf's than options as the overnight risk is too high to lose your profits
Tom says (2:24 PM):
Great job on the taking profits Dave ...
Frank says (2:26 PM):
ever notice how when the markets start to accelerate down info/data systems from vendors/trading companies start breaking?
Dave says (2:26 PM):
In my clients accounts I am long 17% and short 30% so net 13% short with SKF, SRS, SCC, QID and DUG
Dave says (2:26 PM):
68% cash
Tom says (2:26 PM):
Perfect ..and you made some good money ....profits and moving up stops on your shoprts ...very good
geckojb@yahoo.com says (2:27 PM):
sounds good to me
Tom says (2:27 PM):
QID was a steal at 39.16
Tom says (2:28 PM):
Oil and gas ...why is XOM down and all majors ...??? It is like when gold was soaring but NEM was hitting new lows everyday
Tom says (2:28 PM):
then gold plummets 100 plus
Tom says (2:28 PM):
wow
Tom says (2:28 PM):
selling
Tom says (2:28 PM):
selling
Tom says (2:32 PM):
selling ...as i said ...courage is in the bull camp
Tom says (2:32 PM):
Or bear camp
geckojb@yahoo.com says (2:32 PM):
volume coming into market past half hour...trading programs kicking in?
Tom says (2:32 PM):
instead of bull
Tom says (2:32 PM):
I ahve bull on my mind
Tom says (2:33 PM):
Isn't it funny how many were convinced that a new bull was starting ???
Tom says (2:33 PM):
1400 missed
Tom says (2:33 PM):
Thomas ???
geckojb@yahoo.com says (2:33 PM):
If u pull up 30 day 30 min chart as soon as market broke trendline selling kicked in....looks like black boxes
Tom says (2:33 PM):
3% will be in here soon from high to low ??
geckojb@yahoo.com says (2:35 PM):
For Fib's..SPX sitting right at 23.6% retracement of swing bull that started 04/15. Next Fib Level on SPX is 1384 but this level may hold? Just my 2 cents
causalityrules says (2:36 PM):
tom, time to buy the q's?
Tom says (2:37 PM):
1400 is broken ...3-5% correction underway as expected ..could get 10% if everything falls into place ..like we said last week
Tom says (2:38 PM):
Caus ..no longs yet
causalityrules says (2:38 PM):
ok
Tom says (2:38 PM):
we will see how the tape is tomorrow
Tom says (2:38 PM):
hit 175.00 down
Tom says (2:38 PM):
now we could rally back to 100 down
Tom says (2:39 PM):
XLF is a possible call play ...may in the money
geckojb@yahoo.com says (2:40 PM):
Tom u mind if I post a 30 min chart of SPX with Fibs?
Thomas says (2:43 PM):
Tom?
Tom says (2:45 PM):
OK
Tom says (2:45 PM):
Go for it
geckojb@yahoo.com says (2:45 PM):
http://img232.imageshack.us/img232/8379/spx30minht9.jpg
geckojb@yahoo.com says (2:46 PM):
It's to illustrate that Fibs at times do work. Not TA but a naturally occuring mathematical algorithim...Thomas made me brush up on it
Tom says (2:47 PM):
Thomas ..who is thomas ???
Tom says (2:47 PM):
I never see him anymore as we were buying 100k of MZZ
Tom says (2:48 PM):
right about 15 minutes before a 100 point drop ???
Tom says (2:48 PM):
Maybe it's craig's fault ???
Craig says (2:48 PM):
Nope. I'm in QID.
Tom says (2:48 PM):
Craig ..you take the blame or Thomas ???
Tom says (2:48 PM):
Now you tell us ???
Craig says (2:48 PM):
Thomas.....
Tom says (2:48 PM):
I thought this was a member board ???
Craig says (2:49 PM):
Money makin board
Nimesh has left the conversation.
Thomas says (2:49 PM):
Tooom?
Thomas says (2:49 PM):
I'm mad
Tom says (2:49 PM):
Boy ....I talk til I am blue in the face convincing everyone to get into 2x inverse Etf's then I end up 100% cash as the market falls like a rock !!!!!
Thomas says (2:49 PM):
my short at 1414 would make me few dinners ?
You have just sent a nudge.
Thomas says (2:50 PM):
f....
Tom says (2:50 PM):
F....in A
Thomas says (2:50 PM):
I'm the perfect example how to be right and not make money ..
Tom says (2:50 PM):
Head of international trading ?
Thomas says (2:50 PM):
people don't understand it is possible
Thomas says (2:51 PM):
I don't loose but can't make much money
Tom says (2:51 PM):
I am putting Bog in charge ????
Thomas says (2:51 PM):
few more weeks and I will make it :)
Craig says (2:51 PM):
Tom, I have a 3% trailing stop on QID?
Tom says (2:51 PM):
perfect
Thomas says (2:51 PM):
I'm very close to call Int term top
Tom says (2:51 PM):
I have my entire family in QID and MZZ but never got the TRADERS trade in ?????
Thomas says (2:52 PM):
have to eat something
Thomas says (2:52 PM):
wrrr
geckojb@yahoo.com says (2:52 PM):
anyone like the FIBS chart?
Tom says (2:52 PM):
Thomas ...I am going to get bullish then ???
Tom says (2:52 PM):
Thanks Geck
Thomas says (2:52 PM):
you remember few last times I called short term tops or bottoms?
Thomas says (2:53 PM):
Geck?
Frank says (2:53 PM):
i like fibs chart
Thomas says (2:53 PM):
what timeframe is that?
geckojb@yahoo.com says (2:54 PM):
30 day 30 min
Thomas says (2:54 PM):
ok
Thomas says (2:54 PM):
I don't like it :)
Frank says (2:54 PM):
what charting tool?
geckojb@yahoo.com says (2:54 PM):
1390 comes into play before 1384
geckojb@yahoo.com says (2:54 PM):
prophet
Tom says (2:55 PM):
http://www.slopeofhope.com i posted yesterday that a 3% correction would start tomorrow !!!!!
Tom says (2:55 PM):
I am TTT they let me in ???
Frank says (2:56 PM):
was there news today that caused this tumble?
Tom says (2:56 PM):
yes ...the bears are back ...there were some financials that all said some bad things in about a 10 minute period
Tom says (2:57 PM):
got the hedgies peeling off
Tom says (2:57 PM):
perfect trade ...
Frank says (2:57 PM):
when was that?
Tom says (2:57 PM):
1:56pm
Tom says (2:57 PM):
of course
Frank says (2:58 PM):
:)
geckojb@yahoo.com says (2:58 PM):
Ok, anyone think PPT steps in last hour here and props this baby up?
Dave says (2:58 PM):
who is ppt?
Frank says (2:58 PM):
me
Tom says (2:59 PM):
Explanation from the pro desk Frank is that the FRE FNM trade yesterday was capitulation like geck on oil ???!!!!!
Tom says (2:59 PM):
The FNM shortcover emboldened the smart money to buy the BIG puts and futures
geckojb@yahoo.com says (3:00 PM):
Plunge Protection Team aka Presidents working group on Financial Markets...
geckojb@yahoo.com says (3:00 PM):
Hear of them Dave?
Dave says (3:00 PM):
no
geckojb@yahoo.com says (3:01 PM):
High level gov't cronies and bankers that buy up futures to prop up markets
Dave says (3:01 PM):
That is there objective?
geckojb@yahoo.com says (3:01 PM):
tin foil types think they have their hand in everything
Frank says (3:01 PM):
ttt...its amazing how many twists there can be.
geckojb@yahoo.com says (3:01 PM):
but it does exist.
geckojb@yahoo.com says (3:01 PM):
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets
Tom says (3:02 PM):
that lunch hour crowd is rough ..you short the market and 1;56 and sell in 45 minutes you make a bundle
Tom says (3:02 PM):
You can't say i don't go both ways frank ???
Frank says (3:02 PM):
ac/dc
Tom says (3:02 PM):
I can play the short as well as long side /
Dave says (3:02 PM):
But Tom, that has nothing to do with trading!
Frank says (3:02 PM):
this is the most bearish you have been since I joined
Tom says (3:02 PM):
and dress up ..correct
geckojb@yahoo.com says (3:02 PM):
http://www.atimes.com/atimes/Global_Economy/GJ19Dj02.html
Tom says (3:02 PM):
and right ???
Dave says (3:03 PM):
Tom, that is much too much to know about your personal life...
Tom says (3:03 PM):
yes ...too much info
Frank says (3:03 PM):
FXP back to old days when I used to make a killin trading it
Tom says (3:03 PM):
but thomas accuses me of dressing up in pink dresses when i have a big win ???
Tom says (3:03 PM):
He is a tough guy???
Tom says (3:04 PM):
1405 -140 as Volume took off in the futures
Tom says (3:04 PM):
tremendous play
Frank says (3:04 PM):
too early to call tomorrows open?
Tom says (3:05 PM):
should be down as FTSE and DAX are vulnerable
Tom says (3:05 PM):
might want to short the gernay fund
Tom says (3:05 PM):
germany
Dave says (3:05 PM):
If I were as good at finding winners as you Tom, i also would dress up in pink dresses and 4 inch pumps!
Frank says (3:06 PM):
and put a video of it on you tube! start teachin him ttt!!
Tom says (3:07 PM):
I am going viral with a UTUBE rant on the Fed ...????
Craig says (3:07 PM):
Please don't go there Tom.;)
geckojb@yahoo.com says (3:07 PM):
Karl Denninger has already cornered the market on video Fed rants...whattya fascist
Frank says (3:07 PM):
what i need now is ags to rollover big
Tom says (3:09 PM):
No one calls the markets like we do !!!!!!!
Craig says (3:10 PM):
CNBC awaits you, Tom........
Tom says (3:10 PM):
yes..but then i couln't trade
Dave says (3:10 PM):
They would not believe you anyway.
Thomas says (3:10 PM):
Yes Tom WE are great :)
geckojb@yahoo.com says (3:10 PM):
No you just do it like Cramer does have proxies do it for oyu
Thomas says (3:11 PM):
Tom can you imagine???? You on CNBS in your pink dress??? few millions watching evert night
Thomas says (3:11 PM):
:)
Tom says (3:11 PM):
Craig ..you are the 2nd most honest guy on this site ...tell us the truth ..if we would have gone into every trade we wanted and you would have played 200K ...how much would you have now ??? ball park ???
Thomas says (3:11 PM):
Pink Dress Trader
Tom says (3:11 PM):
OK Thomas
Frank says (3:11 PM):
he'd turn the whole world into minute traders
Tom says (3:12 PM):
Now you have another Pole here you are getting gangin up time ??
geckojb@yahoo.com says (3:12 PM):
shoot....my TWM put just closed out on a limit..i shoulda raised it
Dave says (3:12 PM):
How long has this chat been active?
Tom says (3:12 PM):
about 1.2 years
Dave says (3:13 PM):
I found it from the Mike Burk Report. How do you know Mike?
Tom says (3:13 PM):
Nothing but fun
Tom says (3:13 PM):
He is a member
Tom says (3:13 PM):
Mike is a members for 1 year
Tom says (3:14 PM):
....nice guy ...he can't trade as much due to his philosophy but says I am the best he has ever witnessed short term over 30 years
Tom says (3:14 PM):
I agree
Tom says (3:14 PM):
BTW
Tom says (3:14 PM):
and I am getting better ...if I can get rid of Thomas ????
You have just sent a nudge.
Thomas says (3:14 PM):
:)
Tom says (3:14 PM):
Real downer he is ?
Tom says (3:15 PM):
can't finish a trade ???
Thomas says (3:15 PM):
I will never tell you again when we have bottom or top :)
Thomas says (3:15 PM):
no I can't
Tom says (3:15 PM):
OK ....then it will be a surprise ????
Thomas says (3:15 PM):
and I had a plan and couldn't trade a plan
Thomas says (3:15 PM):
?
bogdan has left the conversation.
Thomas says (3:16 PM):
Bogdan left
Thomas says (3:16 PM):
I'm alone again
Craig says (3:17 PM):
Tom, do you use Bollinger bands in your trading?
Tim has been added to the conversation.
Tom says (3:19 PM):
yes ...but only as a guide ??? I personally would never trade off them
Tim says (3:19 PM):
yes I know..just want to get caught up
geckojb@yahoo.com says (3:19 PM):
Tom what is your main piece of info you trade, or a few?
Tim says (3:20 PM):
anything I can do to change the difficulties in staying in chat?
Tom says (3:24 PM):
Permalinkttt 18 hours ago 2 points
Please login to rate.
I think that the major indices are just holding on by their nails and that the corrections that follow into September will get deeper and deeper. This coming from someone who has been a permabull for 32 years. The first 3% correction starts tomorrow .
Tom
Tom says (3:25 PM):
Tim ..Isent you the 2:00pm to present chat ...did you receive??
Tom says (3:25 PM):
The above was placed on SLOPE yesterday
Tim says (3:25 PM):
checking
Tom says (3:26 PM):
Permalinkttt 18 hours ago 2 points
Please login to rate.
I think that the major indices are just holding on by their nails and that the corrections that follow into September will get deeper and deeper. This coming from someone who has been a permabull for 32 years. The first 3% correction starts tomorrow .
Tom
Tom says (3:26 PM):
I am trying to get in good with Tim so I can blow him away ???
Frank says (3:26 PM):
be nice!
Tom says (3:26 PM):
for a while I will
Frank says (3:26 PM):
no one likes a wise ass!!
Tom says (3:27 PM):
just about the time he thinks i am a real bear >.....>>>
Frank says (3:27 PM):
they are just trying to make a buck the way they know how
Tom says (3:28 PM):
by sheepishly following a immature fake ?
Tom says (3:28 PM):
Look at those positions he has ???
Frank says (3:28 PM):
oh well, its their responsibility to figure that out
Tom says (3:28 PM):
millions lost but says he is up 68% annualized ???
Tom says (3:29 PM):
just like a bit of honesty in the biz???
geckojb@yahoo.com says (3:29 PM):
Like Sykes says in due time any credible blogger will need to verify there results to be taken seriously
Tom says (3:30 PM):
OK so obviously we got our questions answered as we go back to Bear mode
geckojb@yahoo.com says (3:30 PM):
1390 next stop
geckojb@yahoo.com says (3:30 PM):
The market wants to test that area
aszager says (3:31 PM):
I have been away but it looks like the typical swoon wed/ thur before options week expiration. Some say the big institutions can pick up calls now cheap
Thomas says (3:31 PM):
Geck next stop is 1370
RV says (3:31 PM):
Tom gap up in am?
Tom says (3:32 PM):
No ...I doubt it ..hoping gap down and buy long
Thomas says (3:32 PM):
Tom I have to say it
geckojb@yahoo.com says (3:32 PM):
1390 is resistance, 1384 then 1370
Thomas says (3:32 PM):
int term top is in
aszager says (3:33 PM):
fcx got hit. I closed out naked xle may 85 calls at a profit
Thomas says (3:33 PM):
geck 1387 and than 1370 :)
Tom says (3:33 PM):
good
Tom says (3:33 PM):
FCX has had quite a day ???
Tom says (3:33 PM):
look at the daily
geckojb@yahoo.com says (3:33 PM):
u say tomato
geckojb@yahoo.com says (3:33 PM):
I say tomoto
Tom says (3:34 PM):
I say CASH is KING ???
Tom says (3:34 PM):
Thomas please update TRADERS ?????
geckojb@yahoo.com says (3:34 PM):
6 of one 1/2 dozen of another if it hits your points it hits mine it's all good :)
Thomas says (3:34 PM):
Tom are you 100% in cash?
Tom says (3:34 PM):
yes
Thomas says (3:34 PM):
ok so
Thomas says (3:35 PM):
218 positions
174 wins
32 losses
12 breakeven
178680$ made minus costs
Tom says (3:35 PM):
Imagine if we would have held short and added 100K 2x inverse ? MOC 200K
Thomas says (3:36 PM):
another 22k and you have 100% in less than 3 months
Tom says (3:36 PM):
double on the close today ...Craig's fault ??/
Thomas says (3:36 PM):
Tom I can't even imagine holding winning positions ???
Thomas says (3:36 PM):
:)
geckojb@yahoo.com says (3:36 PM):
Dave - looks like we live another day with DUG...
geckojb@yahoo.com says (3:37 PM):
I went short big today
Craig says (3:37 PM):
I'll take any credit, but I will not take any fault. Already do that at home.
geckojb@yahoo.com says (3:38 PM):
It's this dang low volume thing that has me confused
geckojb@yahoo.com says (3:38 PM):
anyone have a take on it?
Tom says (3:39 PM):
1394 es long 1 contract
Tom says (3:39 PM):
Buying 1 ES long here
Tom says (3:39 PM):
1394.00 cash
Tom says (3:41 PM):
OK Thomas ?
Tom says (3:41 PM):
stop 1375
Tom says (3:43 PM):
Craig ..you make $$$ on QID ????
causalityrules says (3:43 PM):
I am currently idle.
Tom says (3:43 PM):
sell ??????
Thomas says (3:43 PM):
ok
Tom says (3:43 PM):
look at XLF ...bear ???
Frank says (3:43 PM):
geck...we need a catalyst to create a big vol move. this was good day for bears, but just another tug-o-war day.
PayPal $249 to tomandprisha@msn.com
I wrote a note on Tim Knight's http://www.slopeofhope.com
I said a 3% correction is starting tomorrow (today) and then I wrote today that the correction may be over and a rally into Friday.
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