A DAY IN THE LIFE OF A TRADER !!!

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(5:35 PM) ctmhou: There sure are a lot of bids @ 857.
(5:35 PM) ctmhou: ES
(5:35 PM) ctmhou: That changed quickly
tomthetrader: 850 is the last line in the sand
tomthetrader: E-MINI S&P 500 Dec ’08 19:15:20 EST 856.00 -5.50 862.00 863.00 853.25
tomthetrader: Dow (DEC) -47 | Nasdaq (DEC) -6.75 | S&P 500 (DEC) -6.00
tomthetrader: BUYING NOW IN THIS 854-860 level trying to get up to 20 contracts long ES
tomthetrader: Dow (DEC) -47 | Nasdaq (DEC) -10.00 | S&P 500 (DEC) -5.75
tomthetrader: Dow 8,327.00 -44.00 -0.53
S&P 500 855.80 -5.70 -0.66
NASDAQ 1,144.75 -10.75 -0.93
(8:36 PM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: Dow (DEC) -12 | Nasdaq (DEC) -4.00 | S&P 500 (DEC) -1.75
tomthetrader: picked up 10 ES contracts long 854.00 856
tomthetrader: 5 each slot
tomthetrader: IAM EXTREMELY BULLISH
tomthetrader: E-MINI S&P 500 Dec ’08 22:25:08 EST 862.50 1.00 862.00 863.00 850.00
tomthetrader: 11 contracts long Futures market 100% long
tomthetrader: S&P 500 Dec ’08 22:31:20 EST 864.40 2.90 863.60 864.60 850.40
tomthetrader: Dow 8,405.00 34.00 0.41
S&P 500 865.10 3.60 0.42
NASDAQ 1,159.00 3.50 0.30
(10:47 PM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: S&P 500 865.10 3.60 0.42
tomthetrader: $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$4
tomthetrader: 100 here we come ?
(10:52 PM) ajayvee: Nikkei and futures moving up
tomthetrader: Absolutely beqautiful
tomthetrader: E-MINI S&P 500 Dec ’08 22:43:19 EST 865.75 4.25 862.00 866.50 850.00
tomthetrader: 15 points tonight on 11 total
tomthetrader: what a night
tomthetrader: Great week ahead
tomthetrader: E-MINI S&P 500 Dec ’08 23:15:03 EST 869.25 7.75 862.00 869.50 850.00
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tomthetrader: tremendous rally
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(8:12 AM) thomas_Poland: good morning
(8:21 AM) JR Roden: good morning
tomthetrader: good morning
tomthetrader: cold here in florida
tomthetrader: frost on the pumpkins
tomthetrader: I went to bed happy at S&P 500 Dec ’08 00:01:25 EST 866.80 5.30 863.60 869.20 850.40
tomthetrader: 869.00 was the high at bed time now we are testing 850 ?
(9:04 AM) bogdan07: good morning
tomthetrader: Hi Bog Dan !
tomthetrader: Good Week ahead
tomthetrader: I am happy and ready to roll
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(9:13 AM) Nick_H_SanDiego: GM everyone
(9:14 AM) TraderTim: GM All
tomthetrader: Hi Tim
tomthetrader: Hi Nick
(9:18 AM) Nick_H_SanDiego: y
(9:18 AM) brownmj21: y
(9:18 AM) ajayvee: y
(9:18 AM) berniectx: y
(9:18 AM) csu30: y
(9:18 AM) breadman8401: y
tomthetrader: Zags is locked out somehow ?
tomthetrader: trying to get himk in
(9:18 AM) aszags: I am in
tomthetrader: OK
(9:19 AM) TraderTim: y
tomthetrader: Whew !
tomthetrader: S&P Micro to Near Term ONLY (CASH 873.29 SPZ8 851.00) Bottom Line : In-line with Friday's analysis, T.A.G. is shifting to a tactically bullish, yes bullish mode of operation
tomthetrader: K.I.S.S. (Keep It Simple Stupid) – 845 / 839 is deemed as pivotal = S&P generally on the OFFENSIVE above 845 / 839, S&P generally on the DEFENSIVE below 845 / 839.
(9:25 AM) thomas_Poland: what is T.A.G?
(9:26 AM) pupster1: are you holding on to any futures positions from pre-mkt and how many at what levels?
tomthetrader: NONE FLat futures ..1 YM from late Friday underwater 200 YM
tomthetrader: will add LIVE with the group
(9:32 AM) pupster1: did you buy last night as u said u would?
tomthetrader: yes I bought 10 contracts and sold at bed time
tomthetrader:
tomthetrader: 5 each slot
tomthetrader: IAM EXTREMELY BULLISH
tomthetrader: E-MINI S&P 500 Dec ’08 22:25:08 EST 862.50 1.00 862.00 863.00 850.00
to
(9:32 AM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: Futures gave us a great shot at 850 -860 ES
(9:33 AM) nimesh_: thomas, how are your morning indicators?
tomthetrader: S&P 500 Dec ’08 01:26:01 EST 864.00 2.50 863.60 870.50 850.40
tomthetrader: 850 - 870 range last night
(9:34 AM) Alex1978: let's see what happens this week but my bias is still to the downside until proven otherwise
tomthetrader: I will buy long in here at 8338 YM long 5 no stops
tomthetrader: ES players 856-58
(9:38 AM) Fulkdaddy: Helene: Apparently folks are still playing that bull market game of capitulation lows are bullish and they lead to major rallies. I will say this once again: In a bear market capitulation lows are only bullish for short-term rallies, they are not bullish for real bottoms. A real bottom will come after bases are built. It will come after no one cares if it's a bottom or not.
(9:39 AM) TraderTim: Thx Dave
tomthetrader: Thanks Dave
(9:39 AM) Fulkdaddy: Also, Louise Yamada on Proshares tomorrow and Wednesday after the close
(9:40 AM) Fulkdaddy: #1 technical analyst
tomthetrader: Great
(9:41 AM) Alex1978: good info
tomthetrader: Buying ES here 2 long at 856.00
(9:42 AM) Fulkdaddy: Options expiration as well...yikes. I am still long
(9:44 AM) thomas_Poland: projected low Spx 853
(9:45 AM) DE_TTT: Up day, TP?
(9:46 AM) thomas_Poland: DE I can't tell you .. I will look stupid again if I go against it
(9:46 AM) JR Roden: c'mon you have to tell us ... we all look stupid here sometimes, but your indicator helps us avoid that.
(9:46 AM) DE_TTT: LOL
(9:47 AM) Alex1978: i look stupid all the time!
(9:47 AM) Alex1978: ive perfected teh science of the idiot
(9:47 AM) pupster1: TP....we don't care...we all be right and wrong often
tomthetrader: Buying ES futures again in here
tomthetrader: Can execute longs at 856.00 cash
(9:48 AM) thomas_Poland: I was kidding
(9:48 AM) thomas_Poland: I have to check something today
(9:48 AM) thomas_Poland: PUT buyers
tomthetrader: 4 more long 856.50
(9:48 AM) thomas_Poland: TRIN turning own
(9:48 AM) DE_TTT: I thought I was wrong once...then I found out later I was mistaken.
(9:48 AM) ctmhou: 856.49 is SPX cash S1
(9:48 AM) Fulkdaddy: Die bears!
(9:49 AM) ctmhou: Dave, you're sounding like Thomas.
(9:52 AM) aszags: right now all I have is long limited amount of sso and ddm protected with covered calls
(9:53 AM) Fulkdaddy: How high can we go today Tom?
(9:54 AM) Fulkdaddy: 916?
(9:54 AM) aszags: I am lucky I closed out my naked qid nov 90 calls late Friday although I had hoped to keep them until expiration
(9:55 AM) Fulkdaddy: Rev is optimistic
(9:55 AM) Fulkdaddy: For a bounce
tomthetrader: (9:34 AM) Alex1978: let's see what happens this week but my bias is still to the downside until proven otherwise
tomthetrader: I will buy long in here at 8338 YM long 5 no stops
(9:56 AM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
(9:56 AM) thomas_Poland: projecte high 933 Spx
tomthetrader: tomthetrader: I will buy long in here at 8338 YM long 5 no stops
(9:57 AM) Nick_H_SanDiego: Tom did you get your 20 es contracts last nite? how many pts did you capture?
(9:59 AM) Nick_H_SanDiego: What was the T.A.G. you mentioned earlier?
(9:59 AM) thomas_Poland: what is T.A.G?
tomthetrader: Craig and AJVEE were the only ones who spoke last night during the futures moves ...may have been more of you out there but were not in the talking mood /
tomthetrader: GM leading
tomthetrader: ????
tomthetrader: RUT UP
(10:03 AM) nimesh_: thomas, how are your morning indicators today?
(10:03 AM) thomas_Poland: have to check them today
tomthetrader: SMH up
tomthetrader: RUT up
tomthetrader: INTC at good buy ?
(10:05 AM) Fulkdaddy: Kass bullish
tomthetrader: Anyone try the 3x ETF's ?
(10:05 AM) thomas_Poland: RUT down
(10:05 AM) Fulkdaddy: Likes Q's over S's
(10:06 AM) pupster1: what are the symbols for the 3x again.........
tomthetrader: will buy again at 856.00 - 860.00 long
tomthetrader: BGU FAS
(10:08 AM) ctmhou: Have you bought FAS, Tom?
tomthetrader: Yes
tomthetrader: 3 buys on FINVIZ
tomthetrader: BGU FAS TNA
tomthetrader: to replicate Futures and options
tomthetrader: The fills are not correct but I would rather be higher than lower !!! Per the last event ..the only fill that matters is yours !
tomthetrader: I am doing very well
tomthetrader: 857.00 buying 2 ES
(10:14 AM) Fulkdaddy: Banks getting crushed
tomthetrader: 8333 YM and 857 ES
tomthetrader: both good BUY areas
(10:15 AM) thomas_Poland: I am affraid we will get tradeable low at 11:15 and on 1 )
(10:16 AM) Alex1978: just an overall observation....on friday, SPX, DJX were able to make new highs on the double top, however, RUT failed to make a higher high which is pretty bearish i think
tomthetrader: Or it could be part of a larger fakeout ?
(10:16 AM) Alex1978: im really trhing to find reasons to long right now but i cant
(10:17 AM) Alex1978: yes, could be...definitely not ruling that out
tomthetrader: really hard ...my mantra for this week is the market will do exactly the oppo you think or we think
(10:17 AM) Nick_H_SanDiego: Got stopped out 855
tomthetrader: BANKS are a problem
tomthetrader: Stopped out 2 ES
(10:18 AM) Alex1978: same w/ Q's too...didnt make a higher high
(10:18 AM) Alex1978: ditto SMH
(10:19 AM) thomas_Poland: projected low 853 Spx
(10:19 AM) thomas_Poland: we are here
(10:19 AM) thomas_Poland: but we will go lower I think
(10:19 AM) thomas_Poland: 11:15 is the time i will try to look at long position
(10:20 AM) Nick_H_SanDiego: es broke 850
tomthetrader: yes adding ES at 850.00 2 long no stops
tomthetrader: very good entry after taking some nice profits this morning
tomthetrader: this will be a week wheras we will rally on bad news
tomthetrader: adding 8 at 852.00
tomthetrader: 10 ES long and 6 YM long
(10:30 AM) JR Roden: Well let's got on with this rally then
(10:31 AM) thomas_Poland: I will go with Tom .. at 11:05-11:15
(10:31 AM) JR Roden: go clock go
tomthetrader: 856.00out
tomthetrader: witchcraft vs. technical /experience and trading skills ?
tomthetrader: still have 2 ES from 850 and the YM from 8333

(10:41 AM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: still have 2 ES from 850 and the YM from 8333
tomthetrader: 857.00 sold 2
tomthetrader: from 850 still holding YM longs
(10:45 AM) thomas_Poland: 3800 dollars already today for TTT
tomthetrader: Not included is last nights discretionary gains
tomthetrader: all night are not included in Thomas's numbers
tomthetrader: 740 Gold is really s good place to hold
tomthetrader: Oil should rally this week
tomthetrader: China is looking better
tomthetrader: markt will get deflationary cpi ppi data this week
(10:56 AM) Nick_H_SanDiego: How many contracts, Tom?
(10:57 AM) Nick_H_SanDiego: I will preload my platform to fire
tomthetrader: 2
(10:57 AM) pupster1: Tom....is there any way as Nick S said that we can set up an auto-trade situation where your ES trades get automatically done for participants on day trade basis....?
(10:58 AM) pupster1: with a firm like OpX
(10:58 AM) Nick_H_SanDiego: Tom, I'd be happy to get some more information from OptionsExpress or TOS about their auto-trade service
tomthetrader: Options express has buy and sell limit options
tomthetrader: yes please Nick
tomthetrader: Thank you
(10:58 AM) Nick_H_SanDiego: We all subscribe to the auto-trade, then you get a data entry screen where you enter the trades, then the broker executes them automatically for all subscribersw
(10:58 AM) pupster1: YES
(10:59 AM) pupster1: this would awsome for Traders !!!!!!!!!!!
tomthetrader: I would be trading your accounts ?
(10:59 AM) thomas_Poland: ok we are close to 11:05 - 11:15 time zone
(11:00 AM) pupster1: yes .... but it's automatically done as it mimicks your trades !!!
(11:00 AM) pupster1: we determine contract sizing
tomthetrader: Fee of 25% COMMISIONS SENT TO ME DAILY /
tomthetrader: lol?
(11:01 AM) pupster1: lol
(11:01 AM) Nick_H_SanDiego: I finally left Schwab on Friday because I am fed-up with them and they can't do futures. So I moved over to OptionsXpress. Well OpX is even worse! They don't have a real-time execution platform, so I've had to setup QuoteTracker this morning.
(11:01 AM) Nick_H_SanDiego: Sure I'll get info
tomthetrader: i USE MY lm AND oPEX FOR OPTIONS AND 2-3X etf'S
(11:02 AM) pupster1: Nick...get info...should be doable
tomthetrader: 850.00 is holding well so far under very bad conditions
(11:02 AM) Nick_H_SanDiego: Looks like we're not gonna get 850 spx here
tomthetrader: not today
tomthetrader: may be off to the races
(11:03 AM) Nick_H_SanDiego: I'm flat. Should I go long?
tomthetrader: 8300 YM
(11:04 AM) TraderTim: a zillion times
(11:04 AM) pupster1: thats why we need auto trades
(11:07 AM) Fulkdaddy: Lets go up...
(11:08 AM) thomas_Poland: It startet 11:05 ??
(11:08 AM) thomas_Poland: now let's hope
(11:08 AM) thomas_Poland: started
(11:11 AM) thomas_Poland: projected low for ES I had 848
tomthetrader: stops in at B.E. on all positions
(11:15 AM) thomas_Poland: I hope we can repeat 20th of October today
tomthetrader: need the banks to rebound
tomthetrader: got to buy these banks on the bottomming process
tomthetrader: AMR CAL look like good MAR 09 calls as well as DE CAT
(11:21 AM) Nick_H_SanDiego: Tom is this getting to be a good long entry for es ?
(11:22 AM) thomas_Poland: boring today/
(11:24 AM) Nick_H_SanDiego: Thomas are you in any futures?
(11:24 AM) thomas_Poland: yes Nick 2 from above
(11:24 AM) thomas_Poland: tha same
(11:25 AM) thomas_Poland: and one today
(11:25 AM) thomas_Poland: lower
(11:25 AM) thomas_Poland: a little
(11:25 AM) thomas_Poland: I wrote about 11:05 ?
(11:26 AM) thomas_Poland: If we make lower low we will go lower till 1 pm
(11:27 AM) thomas_Poland: so better not
tomthetrader: stopped YM positions B.E.
tomthetrader: holding Just 2ES long
(11:29 AM) Nick_H_SanDiego: from what entry price?
tomthetrader: 850
(11:29 AM) Nick_H_SanDiego: thx
tomthetrader: stop 850
(11:42 AM) thomas_Poland: zzzzzzzzzz
(11:45 AM) Nick_H_SanDiego: flag on 5 min es chart
(11:46 AM) Nick_H_SanDiego: Thomas are you going to pass around some Red Bull to the group
(11:47 AM) Nick_H_SanDiego: we need some stimulent
(11:47 AM) DE_TTT: Red Bear?
(11:47 AM) thomas_Poland: Red beer?
(11:50 AM) thomas_Poland: anybody looked at the 5 min chart of October 20th ?
(11:52 AM) Fulkdaddy: Can we break 917?
(11:52 AM) thomas_Poland: yes we can
(11:52 AM) Fulkdaddy: I say yes
tomthetrader: 850 -865 2 ES stops at 865.00
(11:52 AM) thomas_Poland: but now we have to deal with 200 sma
(11:52 AM) Fulkdaddy: High five Thomas!
(11:52 AM) Fulkdaddy: Where is it Thomas?
(11:52 AM) thomas_Poland:
(11:53 AM) thomas_Poland: 869
(11:53 AM) thomas_Poland: on ES
(11:53 AM) Nick_H_SanDiego: we're trying to test the 200sma right now 5 min es chart
(11:53 AM) pupster1: great moves Tom
(11:53 AM) thomas_Poland: we talk about it Nick
(11:53 AM) TraderTim: THOMAS 5min ES at his 200
tomthetrader: 868.00 stops on 2 ES
tomthetrader: 850 -868.00 2 ES long
(11:55 AM) thomas_Poland: ok I will look at a little move down during the lunch hour and buy around 1 pm
(11:56 AM) Nick_H_SanDiego: There is the S1 pivot point at 869.50 on 5 min es chart
tomthetrader: stop 870.00
(11:57 AM) pupster1: 873 - 874 is resistance on es
(11:59 AM) Nick_H_SanDiego: we filled the gap from the opening
tomthetrader: stop 872
tomthetrader: out
tomthetrader: 850 -872 2 contracts Flat now
(11:59 AM) Nick_H_SanDiego: nice 22 es pts
(11:59 AM) pupster1: great move Tom.....
(12:00 PM) ajayvee: atta boy tom!
tomthetrader: Thanks
tomthetrader: Lets get alot more
tomthetrader: RIMM calls
(12:00 PM) berniectx: you have hot hands today TTT
tomthetrader: yes very BULLISH
(12:00 PM) Nick_H_SanDiego: I finally have my futures setup and ready-to-do with OpX and QuoteTracker...so I'm ready for our next futures move
(12:01 PM) thomas_Poland: he is hot
tomthetrader: last night all day last week ..more profits than all the week before
(12:01 PM) thomas_Poland:
tomthetrader:
(12:01 PM) pupster1: we need auto-trade....we need auto-trade....we need auto-trade....
(12:02 PM) pupster1: 873 res.
(12:03 PM) thomas_Poland: Tom what is your prediction for Friday ? 950?
(12:03 PM) Nick_H_SanDiego: SKF at $172 (2x inverse financials) every time it gets this high it reverses
(12:03 PM) thomas_Poland: anybody looked at all Novemeber options expirations?
(12:03 PM) thomas_Poland: I did
(12:03 PM) thomas_Poland:
(12:04 PM) DE_TTT: What do you mean, TP? Max Pain Theory type stuff?
(12:04 PM) thomas_Poland: we can have very strong rally today at 1 pm
(12:04 PM) thomas_Poland: I love the game .. Max Pain
(12:04 PM) DE_TTT: Or just history of November Options Ex?
(12:04 PM) thomas_Poland: Did you play it DE?
(12:04 PM) DE_TTT: No sir...worth a try?
(12:05 PM) thomas_Poland: great game
(12:05 PM) thomas_Poland: DE look at 20th of October chart
(12:05 PM) thomas_Poland: 5 min
(12:07 PM) Fulkdaddy: Kass: The S&P 500 hasn't been this far below its 200-day moving average on a percentage basis since The Great Depression.
(12:08 PM) Fulkdaddy: I reiterate, this market is closer to the Great Depression than any other in history.
(12:08 PM) Fulkdaddy: Now lets make some money on our long positions!
tomthetrader: dozens of stocks trading below their all time lows from 1999 -2000
tomthetrader: +++++++++++++++++++++++++++++++++++
(12:09 PM) Fulkdaddy: Are we going to close above 917 Tom?
(12:09 PM) ajayvee: another ES run !
(12:10 PM) Fulkdaddy: That would be big-time bullish
tomthetrader: YES
(12:10 PM) Fulkdaddy: Die bears!
tomthetrader: 904 1st stop
tomthetrader: 880 - 888 900 904
(12:10 PM) thomas_Poland: Fulk .. you are going against the trend
(12:10 PM) Fulkdaddy: I am long, UYM, UWM, DIG, SSO QLD and NQ
(12:11 PM) Fulkdaddy: We need you today Tom.
tomthetrader: tomthetrader: stop 870.00
(11:57 AM) pupster1: 873 - 874 is resistance on es
(11:59 AM) Nick_H_SanDiego: we filled the gap from the opening
tomthetrader: stop 872
tomthetrader: out
tomthetrader: 850 -872 2 contracts Flat now
(12:14 PM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: tomthetrader: got to take all they will give you
tomthetrader: and then lay low
tomthetrader: and then attack
tomthetrader: when conditions are right the TAPE WILL IGNITE
(12:14 PM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
tomthetrader: tomthetrader: when conditions are right the TAPE WILL IGNITE
tomthetrader: TTT 24/7 !
(12:16 PM) thomas_Poland: TTT go TTT
tomthetrader: 880.00 will be first real resistance
(12:16 PM) thomas_Poland:
(12:16 PM) thomas_Poland: This is TTT
(12:16 PM) thomas_Poland: saint
tomthetrader: 888.00 next
tomthetrader: 900 then 904 then 910 - 925 and finally 944
tomthetrader: I called the all time low in INTC
(12:17 PM) Nick_H_SanDiego: Tom are you going long again in ES ?
(12:18 PM) thefish102: Tom, I think you are correct about energy prices giving an unexpected lift to the economy this holiday season
(12:18 PM) thefish102: it won't be all wine & roses..........but it will be better than expected
(12:19 PM) JR Roden: I was at a local restaurant this weekend and talked to the owner. He said, business has definitely picked up since gas prices dropped. I know when can fill the mini-van for $37 instead of $84, I sure feel like I've got money to take the Mrs to dinner
(12:20 PM) Fulkdaddy: GS catching a bid
(12:20 PM) Nick_H_SanDiego: Isn't it like a $1 billion tax cut for each penny drop in gas
(12:21 PM) brownmj21: It sure is nice, filled the Tahoe up for $46 vs. triple digits.
(12:21 PM) thomas_Poland: Dave .. did trend change in your opinion?
(12:23 PM) Fulkdaddy: I watch a 10 day chart a professional day trader uses to help make sure he is trading in the direction of the overall trend...it looks good here
(12:23 PM) thomas_Poland: what professional day trader uses?
(12:23 PM) Fulkdaddy: Jeff Bierman
(12:24 PM) Fulkdaddy: He did a webinar on day trading on TOS
(12:24 PM) thomas_Poland: What is the address?
(12:24 PM) Fulkdaddy: Very helpful
(12:24 PM) JR Roden: How can we get into that fund you manage/
(12:24 PM) Fulkdaddy: Trader Tim can probably help you find it as Tim found it
(12:24 PM) Fulkdaddy: I see it in my software
(12:25 PM) Fulkdaddy: 880 is Person's Pivot...need to get through here
(12:34 PM) Nick_H_SanDiego: We've got resistance at S2 pivot 877.50 5 min es chart
(12:35 PM) Nick_H_SanDiego: Looks like Person's pivots are really close to the Floor Trader Pivots
(12:35 PM) arujunaa: is anyone else concerned that all of europe's main bourses just closed down about -3.5% today? does this usually lead to a weak U.S. close when we are trading flat to up intra-day?
(12:36 PM) thomas_Poland: What follows what??? That is the question
(12:36 PM) thomas_Poland:
(12:37 PM) arujunaa: so you think europe was following friday's close in the U.S?
(12:37 PM) thomas_Poland: aruj I have the same dillema as you
(12:37 PM) thomas_Poland: I am not sure which one leads .. but think US leads Europe
tomthetrader: agree
(12:38 PM) thomas_Poland: that is why we had bad close .. but the most important is Globex session
(12:38 PM) thomas_Poland: They are glued to the screen
(12:38 PM) arujunaa: i seem to be confused by the price action on a daily basis. good to talk to you after so long thomas.
(12:38 PM) thomas_Poland: good to hear you aruj
tomthetrader: I think US will lead the world and go much higher ....but we have to get these banks actingg better or we are just spitting in the wind
(12:38 PM) thomas_Poland: long time you were quiet
(12:38 PM) thomas_Poland: to long
tomthetrader: Yes ..we need some of the old pros back
(12:39 PM) arujunaa: my wife & i moved to the west coast and started new jobs
tomthetrader: Aruj and Dve are providing alot of services and great research
(12:39 PM) thomas_Poland: aruj where are you now ?
(12:40 PM) arujunaa: google
(12:40 PM) arujunaa: i wash dishes
(12:40 PM) thomas_Poland:
(12:42 PM) Fulkdaddy: Almost breakeven at 1182 on my NQ entry on Friday before golf
(12:42 PM) Nick_H_SanDiego: Dave, you're brave leaving a future open over the weekend and away playing golf!
(12:43 PM) Fulkdaddy: Brave or stupid?
(12:44 PM) Nick_H_SanDiego: both
(12:44 PM) Fulkdaddy: yes
(12:49 PM) Nick_H_SanDiego: Do you have TOS mobile setup on your Blackberry
(12:50 PM) Fulkdaddy: y
(12:50 PM) Fulkdaddy: Can't get charts though
(12:50 PM) Fulkdaddy: Any clues?
(12:50 PM) Nick_H_SanDiego: Nope
(12:51 PM) Nick_H_SanDiego: Don't know if charts works on mobile
(12:52 PM) thomas_Poland: RV here ?
(12:53 PM) DE_TTT: You think we get 885 today, TP ?
(12:54 PM) thomas_Poland: yes
(12:54 PM) thomas_Poland: ES ?
(12:54 PM) thomas_Poland: or Spx
(12:54 PM) thomas_Poland: but we both will get it
(12:55 PM) DE_TTT: SPX cahs
(12:55 PM) DE_TTT: cash
(12:55 PM) thomas_Poland: IF we get a little pullback here and make new high I think we will go up till the close
(12:56 PM) thomas_Poland: a/d line Nyse -221
tomthetrader: when you look at the way we have formed and traded this COMPLEX BOTTOMING PROCESS ...it is very educationally rewarding to me
(12:59 PM) Nick_H_SanDiego: We went right up to 881.50 which is R1 pivot point on es 5 min
(1:00 PM) thomas_Poland: ok 1:10 I am looking
(1:04 PM) thomas_Poland: ok 1:10 close and we are at 200 sma which should act as support now
(1:04 PM) thomas_Poland: hope they will trigger me long here
(1:05 PM) Nick_H_SanDiego: Thomas, what is magic about 1:10 ?
tomthetrader: Seiko indicator !
(1:05 PM) thomas_Poland: it is important for me today
(1:05 PM) thomas_Poland: casio
tomthetrader: Timex was lost in 1999
tomthetrader: I am about to buy long daytrades again
tomthetrader: 867.50 area
(1:06 PM) thomas_Poland: you see ... tom uses timex also
tomthetrader: 8400 Ym area
(1:06 PM) thomas_Poland: Nick .. i wrote before .. today I watch 5 min chart of October 20th
(1:06 PM) thomas_Poland: that's it
tomthetrader: Plastic Rolex from NY NY
(1:06 PM) Nick_H_SanDiego: ok thx
(1:08 PM) Nick_H_SanDiego: Tom hold for 867 or go long here a couple pts higher?
(1:12 PM) thomas_Poland: come on bulls
(1:12 PM) thomas_Poland: we have to hold here
tomthetrader: I think you should enter 2x etfs if you are fearful of futures trades ...but the market will drop in VIX VXN and Price should revove3r up to the 1007 level before Thanksgiving
tomthetrader: buying MSFT nov 20 calls
tomthetrader: would be a way to sheepishly play a rally
tomthetrader: for very small price
tomthetrader: MDY is a great options play now too
tomthetrader: NDX MNX
tomthetrader: very undervalued on a options basis
tomthetrader: once in a lifetime like positions in Mar 09 calls
(1:16 PM) thomas_Poland: not good
tomthetrader: 867.50 Thomas and rally
(1:17 PM) Nick_H_SanDiego: Tom futures at your 867
tomthetrader: Lets buy em
(1:17 PM) thomas_Poland: hope so
(1:17 PM) thomas_Poland: I give it time till 1:30
(1:17 PM) thomas_Poland: and than I forget about it
tomthetrader: I am long with NICK
tomthetrader: what fill Nick /
(1:17 PM) Nick_H_SanDiego: 876.50
(1:17 PM) Nick_H_SanDiego: got in too early
(1:18 PM) thomas_Poland: I will buy above 873
tomthetrader: 867.50 I am long
tomthetrader: 4 long here
(1:19 PM) Nick_H_SanDiego: We have several spinning top, bottoming tail bars here at 867 on es 1 min chart
(1:22 PM) thomas_Poland: one question .. if japanese candlesticks are so good why biggest japanese trading firms use bar charts ?
(1:22 PM) Nick_H_SanDiego: good riddle!
tomthetrader: Poll ? Are you Traders happy with the research / info data I send ? please reply 30 here !
(1:24 PM) Nick_H_SanDiego: YES!
(1:24 PM) thefish102: y
(1:24 PM) ajayvee: y
(1:25 PM) JR Roden: YES
(1:25 PM) aszags: y
(1:25 PM) TraderTim: y
(1:25 PM) thomas_Poland: yes
(1:25 PM) Nick_H_SanDiego: We have a smaller group today...did we lose a few members?
(1:25 PM) berniectx: yes very
(1:26 PM) brownmj21: yes
(1:26 PM) bloomert: yes
(1:27 PM) csu30: yes
(1:27 PM) berniectx: any thoughts on UYM this week Tom?
tomthetrader: Probably the best spec play out there besides UYG
tomthetrader: UYM should be in this rocket out of a bottomming process
tomthetrader: Thank you for the feedback
(1:28 PM) les13436: Tom: Somehow I missed that ES trade you did at 1:18, did you do an audio?? Still OK to buy here?
tomthetrader: 867.50 was our buy area
(1:29 PM) Nick_H_SanDiego: les you may get another entry oppty here shortly
(1:29 PM) Nick_H_SanDiego: we're in a breather right now
(1:29 PM) les13436: Thx
tomthetrader: just off of it now ...yes it is OK to buy around here for a swing trade
tomthetrader: 1:56pm has been buyers lately /
tomthetrader: so we can jump in here
(1:33 PM) Nick_H_SanDiego: Tom you should enter the CNBC challenge....$1 mil prize
(1:34 PM) Nick_H_SanDiego: les you have another entry right around here
(1:36 PM) Nick_H_SanDiego: Tom do you have stop on your 867.50 es?
(1:36 PM) les13436: Got it, long @$867.50 $
tomthetrader: good les ..use it as a swing trade here
tomthetrader: I have place high in the CNBC challenge several times ...won the !st one in the state of Florida 122 overall
tomthetrader: no time now
tomthetrader: can barely get 4 hours of sleep now
tomthetrader: no stop on ES yet
tomthetrader: going to let it maneuver
tomthetrader: lots of bottom callers ..may need a Whoosh to wipe put stops soon /
tomthetrader: SPY nearing UNCH should promote some buying at 1:56pm
tomthetrader: this is typically the weakest time of the day ..no volume illiquid ..so let's see if we can rally into the close
(1:45 PM) thomas_Poland: I am looking forward to see this ran into the close Tom
tomthetrader: anyone wanting to add positions can possibly look at any 2x ETF or 3x etf and or futures options on any major stock to March
tomthetrader: It will be a long week
(1:52 PM) TraderTim: Here is the LINK FULK mentioned to some TOS videos on trading: http://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar
(1:52 PM) Nick_H_SanDiego: Thanks Tim...
(1:52 PM) Nick_H_SanDiego: Tom are we getting 1:56 a few mins early
(1:53 PM) thomas_Poland: RUT positive
(1:53 PM) Nick_H_SanDiego: Tom should we put some stops in here to lock-in profits?
(1:58 PM) thomas_Poland: 200 sma here
(1:59 PM) Nick_H_SanDiego: les move your stop up to lock in profit
tomthetrader: again we have our only day trade position at 867.50
(2:07 PM) ajayvee: did we woooosh?
(2:08 PM) thomas_Poland: long
(2:09 PM) Nick_H_SanDiego: I'm learning today to watch the relationship between the TRIN and the /ES
(2:10 PM) thomas_Poland: and?
(2:10 PM) Nick_H_SanDiego: I've never had the TRIN chart up before...it's very helpful to look at the support and resistance on the TRIN chart to estimate reversal points
(2:10 PM) thomas_Poland: thanks
(2:11 PM) Nick_H_SanDiego: Thomas, do you watch a TRIN chart
tomthetrader: DDM 30.51 bought 10000 on margin for day trade swing trade
(2:11 PM) thomas_Poland: yes
(2:12 PM) thomas_Poland: but I use it differently
(2:12 PM) thomas_Poland: I watch the trend of TRIN
(2:12 PM) Nick_H_SanDiego: how do you use it
(2:12 PM) Nick_H_SanDiego: So you put a MA on the TRIN?
(2:12 PM) Nick_H_SanDiego: like a 10 period MA?
(2:13 PM) thomas_Poland: no I just look at trend .. higher highs and lows
(2:13 PM) pupster1: how many futes = ddm
(2:13 PM) Fulkdaddy: I think we rally here
(2:14 PM) Nick_H_SanDiego: pup did you get my spreadsheet?
(2:15 PM) pupster1: what do u mean
(2:15 PM) pupster1: evidently not
(2:15 PM) Nick_H_SanDiego: What's your email address....I'll send it to ya
(2:15 PM) Nick_H_SanDiego: It calcs out the # of shs of the 2x etfs to equal a future contract
tomthetrader: 871.00 stop ES
(2:15 PM) pupster1: oh yes...
(2:15 PM) Nick_H_SanDiego: stopped out ex 873.50, entry 869 4.5 pts
(2:15 PM) pupster1: i remember
tomthetrader: good trade
(2:16 PM) Nick_H_SanDiego: Thx Tom...finally
(2:16 PM) thomas_Poland: pupster we have spreadsheet where we put our IQ
tomthetrader: yes
(2:16 PM) thomas_Poland: is that what you were affraid off?
(2:16 PM) thomas_Poland:
tomthetrader: DDM long now
(2:17 PM) Nick_H_SanDiego: And Pup, with the etfs, you actually have the advantage that you can do less than a full future contract...which is nice for sizing
(2:18 PM) pupster1: money put up is what u mean?
tomthetrader: stopped out 871
(2:19 PM) Nick_H_SanDiego: Thomas do you have the 5min TRIN or 1min?
(2:19 PM) thomas_Poland: 5 min
(2:19 PM) Nick_H_SanDiego: yes
(2:20 PM) thomas_Poland: yes
(2:20 PM) Fulkdaddy: Its rrrrraaaaaaaallllllllllllyyyyyyyyyyyy tiiiiiiiiimmmmmmmmmmmmeeeeeeeeeeee!!!!!!!!
(2:20 PM) thomas_Poland: and if we are in new bull the rally will be strong
(2:20 PM) breadman8401: y
(2:20 PM) brownmj21: rally away!!
tomthetrader: OK
tomthetrader: Pulling out the checkbook !
(2:21 PM) Nick_H_SanDiego: TTT don't jinx it
(2:21 PM) Fulkdaddy: Love Petty
(2:21 PM) thomas_Poland: yeahhh
(2:21 PM) thomas_Poland: make a rally
(2:21 PM) brownmj21: lol
(2:22 PM) Fulkdaddy: Did anyone see Crossroads with Def Leppard and Taylor Swift? It was really good
(2:24 PM) Nick_H_SanDiego: There was your woosh
(2:24 PM) ajayvee: 867.50 again?
(2:24 PM) thomas_Poland: I have to mute tTT
(2:25 PM) Nick_H_SanDiego: Ouch
(2:26 PM) Nick_H_SanDiego: Tom, I think the music jinxed it
(2:26 PM) aszags: is there any volatility here today?
(2:26 PM) brownmj21: no.. he forgot to tell us he was rallying the bears. jk
(2:26 PM) Nick_H_SanDiego:
(2:27 PM) Nick_H_SanDiego: We need a bear and bull emoticon in PalTalk
(2:27 PM) brownmj21: definitely..
(2:28 PM) thomas_Poland: this is bull
(2:28 PM) ajayvee: A/D -1001
(2:29 PM) ajayvee: i think we're woooshing
(2:29 PM) Nick_H_SanDiego: They're just taking it down
(2:29 PM) pupster1: I just noticed that the 50 weekly ema is just about ready to cross the 200 weekly to the downside .... can't be that good
(2:29 PM) Nick_H_SanDiego: So Thomas we have a lower high on Trin 5 min
(2:29 PM) pupster1: on QQQ's
(2:30 PM) Fulkdaddy: I need to know...Tommy are you dancing?
(2:30 PM) thomas_Poland: yes nick
(2:30 PM) thomas_Poland: hope we can have lower low now
(2:30 PM) pupster1: but i'm gonna try mybest to be bullish like Tom.........
(2:33 PM) berniectx: where do you see close today Thomas?
(2:33 PM) thomas_Poland: who knows?
(2:34 PM) berniectx: I look to you and TTT for guidance you are good!
(2:34 PM) thomas_Poland: Dave says we have rally so hopefully up
(2:35 PM) thomas_Poland: I don't like this action but really think we should rally into close
(2:35 PM) thomas_Poland: I am with Tom here
(2:35 PM) thomas_Poland:
(2:35 PM) thomas_Poland: looking a place to go long again
(2:35 PM) DE_TTT: I agree, TP. I don't like this setup any longer. Waiting on the sidelines for a bit.
(2:36 PM) thomas_Poland: I watch 3:00-3:10
(2:37 PM) thomas_Poland: or now is good action
(2:37 PM) thomas_Poland: jsut as I said I don't like it
(2:38 PM) thomas_Poland: ok ... we should see HOD on this rally
(2:38 PM) Alex1978: we MAY get a good short squeeze into close
(2:38 PM) thomas_Poland: if not I am out and don't touch it today again
(2:39 PM) Nick_H_SanDiego: We're back to this 869.50 pivot point
(2:39 PM) Nick_H_SanDiego: as resistance
(2:42 PM) Nick_H_SanDiego: Alex you still long at 867.50 ?
(2:42 PM) thomas_Poland: 200 sma is keeping this thing here
(2:43 PM) thomas_Poland: crowd is watching it and selling?
(2:44 PM) Nick_H_SanDiego: Yup...gotta break 200sma
(2:44 PM) TraderTim: THOMAS if we break your 200 sma we can move right to 880 resistence
(2:44 PM) thomas_Poland: if we break we make HOD
(2:44 PM) thomas_Poland: in my opinion
(2:44 PM) TraderTim: We like your opinion
(2:45 PM) thomas_Poland: some action here
(2:45 PM) JR Roden: You are talking about the 200 SMA on the 5 min chart ... correct?
(2:46 PM) TraderTim: yes 200 sma on 5
(2:46 PM) thomas_Poland: all day we are dancing on it
(2:46 PM) thomas_Poland:
(2:48 PM) thomas_Poland: we have very negative TICK readings today
(2:48 PM) thomas_Poland: a lot of times below -1000
(2:48 PM) thomas_Poland: and we are still up
(2:48 PM) Nick_H_SanDiego: That is strength, right Thomas?
(2:48 PM) thomas_Poland: or at least not down
(2:48 PM) thomas_Poland: yes I think so
(2:49 PM) thomas_Poland: a lot of people selling stocks at once
(2:50 PM) ctmhou: Finally I can hear Boston...........great group.
(2:50 PM) thomas_Poland: so cumulative TICK is close to oversold reading
(2:51 PM) berniectx: I worry that they slam them down last hour
(2:51 PM) thomas_Poland: nah ...
(2:51 PM) thomas_Poland: bernie
(2:51 PM) berniectx: want to buy Thomas
(2:52 PM) thomas_Poland: I want to buy but waiting for better action
tomthetrader: 867.50 long 2 Es
(2:52 PM) thomas_Poland: I was long 3 times and stopped breakeven
(2:52 PM) thomas_Poland:
(2:53 PM) thomas_Poland: I know !
(2:53 PM) thomas_Poland: I should just delete 200 sma from my chart
(2:53 PM) thomas_Poland:
(2:54 PM) JR Roden: good call, then it wouldn't keep knocking us down
(2:54 PM) thomas_Poland: yes
(2:57 PM) nimesh_: thomas, what are thinking now, try go long again?
(2:57 PM) thomas_Poland: I will
(2:57 PM) Nick_H_SanDiego: What do IB and TOS charge for Futures?
(2:57 PM) nimesh_: 2.4 for nq in IB
(2:57 PM) ctmhou: TOS 3.50 both ways on futures
(2:58 PM) nimesh_: can't remeber es
(2:58 PM) berniectx: IB is 2.40 one side ES
(2:58 PM) ctmhou: I should say, each way
(2:59 PM) thomas_Poland: I would not go where the cheapest ES is
(3:00 PM) berniectx: I've used IB for couple years overall is OK
(3:00 PM) thomas_Poland: you were lucky you did not have to talk to anybody?
(3:01 PM) thomas_Poland: all machines
(3:01 PM) berniectx: customer service sucks
(3:01 PM) Nick_H_SanDiego: Yes I know IB cust serv sucks.
(3:02 PM) Nick_H_SanDiego: I just figured out that OpX charges about $9 each way on futures...my day today is negative due to commissions
(3:02 PM) Nick_H_SanDiego: ridiculous
(3:02 PM) thomas_Poland: so 18 round turn?
(3:03 PM) thomas_Poland: here goes my last chance 3:10
(3:03 PM) Nick_H_SanDiego: $17.28 round turn with sec fees
(3:04 PM) thefish102: that's really high nick
(3:04 PM) Nick_H_SanDiego: I agree...
(3:05 PM) thefish102: 5 bucks is kinda the standard out there.............less if you are more active
(3:05 PM) thomas_Poland: maybe they have the best clearing
(3:05 PM) Nick_H_SanDiego: big cry from the Cybertrader real-time execution platform I am used to
(3:05 PM) JR Roden: Coming up for another 200 SMA beat down?
(3:06 PM) Nick_H_SanDiego: TraderTim got a good entry at 860
(3:07 PM) TraderTim: tight stop but it has to break that 200 sma of THOMAS's or we are in trouble. Feels like a dice throw.
(3:07 PM) Nick_H_SanDiego: Dice throw
(3:07 PM) Nick_H_SanDiego: and back to Tom's 867.50 mean
tomthetrader: one hour of pleasure or pain /
tomthetrader: RUT holding on looking at IWM 46.00 DEC calls
(3:10 PM) thomas_Poland: TRIN is going sideways just like market
(3:10 PM) thomas_Poland: we got so much pain last few months that it would be nice to get some pleasure
(3:10 PM) TraderTim: the financials are the TELL and they just won't come back this time
(3:11 PM) nimesh_: this market sucks.....kust trading up and down in a small range
(3:11 PM) TraderTim: yep
tomthetrader: pretty large sell program there
(3:12 PM) thomas_Poland: -1210 TICK reading again
(3:12 PM) Nick_H_SanDiego: Tom what do you look at to see the sell program?
(3:12 PM) aszags: I chickened out and took profits. I sold to open 30 nov qid 90 calls at 2.65 and just closed them at 2.1
tomthetrader: Just the volume per and the violent move
(3:12 PM) Nick_H_SanDiego: good trade Zags
tomthetrader: nice Zags ..good day for it
tomthetrader: good rally now
tomthetrader: we will close +
(3:13 PM) thomas_Poland:
tomthetrader: magnetto 867.50
(3:14 PM) aszags: i also have nov qid 95 calls which I sold to open at 1.65 and will try to close those out also
(3:15 PM) thomas_Poland: ok long
(3:15 PM) thomas_Poland: against f..g 200 sma
(3:15 PM) thomas_Poland: this time has to give up
(3:15 PM) thomas_Poland: com on
(3:15 PM) thomas_Poland: come on
tomthetrader: Rally deoll
(3:15 PM) Alert: ====SECURITY BULLETIN!=======
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(3:15 PM) thomas_Poland: you b....
(3:16 PM) TraderTim: THOMAS del that 200 please quickly
(3:16 PM) JR Roden: 200 SMA doesn't exist .... it doesn't exist ... it doesn't exist ...
tomthetrader: like the support I created at 867.50 ???????????????????????????????
tomthetrader:
(3:19 PM) thomas_Poland: what the fork?
(3:19 PM) thomas_Poland: really .. this is only line on the chartt
tomthetrader: Magnetto
(3:19 PM) thomas_Poland: ok deleted it
tomthetrader: Just like golf ...using a pencil with eraser !
(3:19 PM) Nick_H_SanDiego: magneto is right!
(3:19 PM) brownmj21: alright-- TP deleted it, lets look for that pop!
tomthetrader: My best wood ...pencil /
tomthetrader: Brownie I am with you
(3:20 PM) ctmhou: Mulligan means that I hit until I like...
(3:20 PM) ctmhou: 862 - 872 semms to be a range at the moment
(3:21 PM) ctmhou: seems
(3:21 PM) ctmhou: I'm starting to write like Thomas.
(3:21 PM) thomas_Poland:
(3:21 PM) thomas_Poland: you talking to me ?
(3:22 PM) ctmhou: Nope, not me.
(3:22 PM) thomas_Poland: good
(3:22 PM) thomas_Poland: did everyone delete 200 sma from the chart ? Who still have it ?
(3:22 PM) thomas_Poland: who is guilty?
(3:22 PM) TraderTim: I made mine THICKER
(3:23 PM) ctmhou: What time frame?
(3:23 PM) thomas_Poland: tiiiiiiiiiiiiiiiiiiiiiiiiim
(3:23 PM) TraderTim: so it would get confused
(3:23 PM) thomas_Poland: you made stronger resistance
(3:23 PM) TraderTim: rats . . .
(3:24 PM) TraderTim: when it hits that many times with low volume does that mean it is just traders trading other traders NO big buyers?
(3:24 PM) Nick_H_SanDiego: The best trade today was the gap fade....should have walked away after thatQ!
(3:24 PM) thomas_Poland: ok that is it for today for me
(3:24 PM) thomas_Poland: this f...g market is driving me crazy
(3:24 PM) Nick_H_SanDiego: TP go have a beer
(3:24 PM) ajayvee: agreed nick, I'm back to breakeven for the day
(3:25 PM) Nick_H_SanDiego: I'm b/e if you ex comm's
(3:25 PM) thomas_Poland: these are sell programs
(3:25 PM) Nick_H_SanDiego: take it right down
(3:25 PM) thomas_Poland: whenever we go to 200 sma we have sell program
(3:25 PM) Nick_H_SanDiego: I wish we could dump stock on the market and be short the future at the same time.
(3:25 PM) ctmhou: Nick, don't you have Thinkorswim?
(3:26 PM) Nick_H_SanDiego: Printing press
(3:26 PM) TraderTim: gotcha Thomas so we are betting against SKY NET
(3:26 PM) Nick_H_SanDiego: Hey Craig, I do have TOS, but my futures approval was granted yet...just got it this morning
(3:26 PM) ctmhou: OK. Cool
(3:26 PM) thomas_Poland: Tim you watch Sarah Connor
(3:26 PM) Nick_H_SanDiego: They tell you 4 days, but it's really only 1
(3:26 PM) TraderTim: Oh YEH love those sexy terminators
(3:27 PM) thomas_Poland:
(3:27 PM) TraderTim: cool
(3:27 PM) TraderTim: Tom your 867 level is amazing today
(3:27 PM) Nick_H_SanDiego: Like a dog on a leash
(3:28 PM) brownmj21: tom, i thought you were breaking out the checkbook to write a bailout for plan for the market??? we're waiting!!!
(3:28 PM) thomas_Poland: anyone .. is it distribution or accumulation?
(3:30 PM) thomas_Poland: hey .. noone good at TA?
(3:30 PM) ajayvee: i enjoy a little T&A every now and then
(3:30 PM) berniectx: you are my only TA Thomas...are you accumulating?
(3:31 PM) Nick_H_SanDiego: Each one of these pivot highs on the ES 1 min chart is lower highs
(3:31 PM) thomas_Poland: LOL bernie
(3:32 PM) thomas_Poland: I was hoping for Dave
(3:32 PM) Nick_H_SanDiego: I'm ready to distribute !
(3:32 PM) thomas_Poland: he screamed at Tom it is rally so I though it is
(3:32 PM) Nick_H_SanDiego: No remember go contrary to Thomas
(3:32 PM) brownmj21: Nick... each of the pivot highs are lower--are the pivot lows getting higher or lower?
(3:32 PM) Nick_H_SanDiego: higher.
(3:32 PM) Nick_H_SanDiego: so compressing into a triangle
(3:32 PM) berniectx: last 30 minutes...
(3:33 PM) brownmj21: which means we should have a breakout in one direction or the other ?
(3:33 PM) Nick_H_SanDiego: Right...usually direction of the underlying trend (90% prob)
(3:33 PM) Fulkdaddy: KRE (banks) are up!
(3:34 PM) Nick_H_SanDiego: Which I can't even tell which way the underlying trend is !!!!
(3:34 PM) Nick_H_SanDiego: ouch
(3:34 PM) Nick_H_SanDiego: well there is our first lower low
(3:34 PM) brownmj21: depends which chat you use and how far back we're looking.
(3:34 PM) Nick_H_SanDiego: right
(3:34 PM) berniectx: TRIN rising
(3:34 PM) Nick_H_SanDiego: The 5 min chart gives a completely different pic than 1 min chart
(3:34 PM) Nick_H_SanDiego: The Deadly Sin of Switching Timeframes
(3:35 PM) thomas_Poland: Why nick different pic ?
(3:35 PM) brownmj21: I usually like the 5 min and 3 min charts. the 1 min plays with my emotions to much.
tomthetrader: COMPLEX BOTTOMING PROCESS
tomthetrader: RUT still +
(3:37 PM) Nick_H_SanDiego: That was a significant breakdown
(3:37 PM) ajayvee: coming thru the bottom side
(3:37 PM) JR Roden: Looks like we're breaking below the channel from teh past two hours
(3:37 PM) thomas_Poland: this new low in consolidation is not good
(3:37 PM) Nick_H_SanDiego: I like 5 min...now may favorite
tomthetrader: not so good ..the WOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH to get stops
(3:37 PM) JR Roden: low volume, but still a new lwo
tomthetrader: they have to play their games
tomthetrader: and they will see about how fun it is to get blown out of positions soon
(3:38 PM) pupster1: anyone getting tired of this...???
(3:38 PM) thomas_Poland: Did not want to scare you but in the morning i got negative reading
tomthetrader: we will start to rally on bad news this week which will be the end of this selling pressure
(3:38 PM) thomas_Poland: yes pupster I am tired
(3:39 PM) ajayvee: very tired
(3:39 PM) JR Roden: You should tell us that in the morning so we know to short those times when it's looking overbought
tomthetrader: just part of Casino Ryale
tomthetrader: have to hold just to play
(3:39 PM) thomas_Poland: I wanted to go long and did not want Nick call me names
(3:39 PM) thomas_Poland:
(3:40 PM) thomas_Poland: 3:45 is the last chance
(3:40 PM) thomas_Poland: for 30 min rally in ES
tomthetrader: 8368 YM 2 long
(3:41 PM) Nick_H_SanDiego: TP stay out too risky
(3:42 PM) Fulkdaddy: Kass at 3:20 pm: As we approach the scariest hour of the day, I am maintaining my optimistic stance and i remain a buyer on weakness.
(3:42 PM) TraderTim: thx FULK
(3:43 PM) ajayvee: I think I will stay satisfied with breakeven (less commissions)
(3:43 PM) thomas_Poland: Dave we wanted the rally you were screaming about
(3:43 PM) thomas_Poland: where is it ?
(3:43 PM) thomas_Poland: your fault?
(3:43 PM) Fulkdaddy: But Thomas....I have my rally cap on!
(3:44 PM) Fulkdaddy: And I was dancing to Tom's music
(3:44 PM) Nick_H_SanDiego: There's 4 pts for ya
(3:44 PM) ajayvee: 3:45 rally
(3:44 PM) Fulkdaddy: It's raallllyyyy tiimmmeee!!!
(3:45 PM) Fulkdaddy: How about 5% in 20 minutes like Friday only up this time
(3:45 PM) thomas_Poland: let's do that Dave
(3:45 PM) thomas_Poland: With such bad TICK reading we should be much much lower
(3:46 PM) thomas_Poland: but we are not (yet
(3:46 PM) thomas_Poland: so somone was buying /
(3:47 PM) Fulkdaddy: Today is options expiration on oil...is this why it is down?
(3:50 PM) thomas_Poland: will they do it again?
(3:52 PM) berniectx: done..see ya tomorrow be careful
(3:54 PM) Fulkdaddy: GS broke down
(3:54 PM) Nick_H_SanDiego: ouch
(3:55 PM) thomas_Poland: yes nick .. they had to do it
(3:55 PM) thomas_Poland: just insane
(3:56 PM) Fulkdaddy: GS down7.5%
(3:56 PM) Nick_H_SanDiego: 850 ish is next level ?
(3:56 PM) Fulkdaddy: And in free fall
tomthetrader: need those bears to go back to be bears !
tomthetrader: WOOOOOOOOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSHHHHHHHHHHHHHHH
(3:58 PM) Nick_H_SanDiego: Do I hear LOD again
tomthetrader: get those stops and buy Long 850 ES
(3:58 PM) brownmj21: isn't it the time of year for them to be in hibernation??
tomthetrader: Got 5 long ES
tomthetrader: 850.00
(3:59 PM) Nick_H_SanDiego: There weren't enough butterflies for them to fatten up
(4:00 PM) Nick_H_SanDiego: incredible
(4:00 PM) Nick_H_SanDiego: We got a spike on TRIN to 1.51
(4:01 PM) Alex1978: the name of the game is stay short in my opinion...too many ppl trying to buy into the market
(4:01 PM) thomas_Poland: 2 YM
(4:01 PM) Nick_H_SanDiego: Someone just observed that we haven't been this far away from the 200ma since The Great Depression
(4:01 PM) Alex1978: as i said earlier, im staying short until proven otherwise
tomthetrader: Market ended where it started
(4:02 PM) Nick_H_SanDiego: Alex did you have some wins today?
(4:02 PM) thomas_Poland: Alex was quiet for today .. waiting for his money
(4:02 PM) Alex1978: i scalped here and there but nothing big on the long side...everythingi made today was short
(4:02 PM) Alex1978: ive just learned to trade w/ the trend that's all
(4:03 PM) Alex1978: a lot of the technicals tell me to stay short
(4:04 PM) Fulkdaddy: Good job Alex
tomthetrader: We just need to keep the bears ...bearish
(4:05 PM) Alex1978: i totally agree with all of you that a rally is coming up but until i see concrete proof of it i ahve to stay short
tomthetrader: still held our support and still running a good game but the banks failed us today
tomthetrader: we rallied 300 points ! Just from lower levels
(4:06 PM) Alex1978: that was nothing but a short squeeze, on little volume at that
tomthetrader: good thing about it is you can short ..go long or go to cash
tomthetrader: or whine ?
tomthetrader: I amnot one to whine
(4:06 PM) thomas_Poland: Tom 6700 dollars realized gain today .. and that all beeing on the wrong side ??
tomthetrader: I would rather take what they give me
(4:06 PM) Alex1978: im licking my lips on a potential rally though
tomthetrader: and today we did a good job in the casino .
tomthetrader: Just think what would happen if we ever rallied !
tomthetrader: retesting that 850.00 area
tomthetrader: China is acting well
tomthetrader: hope it doesn't cave on our market news
tomthetrader: Banks are just trouble...never thought they would be a sore spot again but they are now at new lows
tomthetrader: XLF UYG ...GS
tomthetrader: all areas from the lows
(4:09 PM) Fulkdaddy: Citi cutting 50,000 on top of 23,000 already out
tomthetrader: RUT held in til final 30 minutes
(4:09 PM) ajayvee: MER down 11% today
tomthetrader: CITI down 80%
tomthetrader: BAC also
tomthetrader: all the ones we sent in the morning charts
tomthetrader: we had the right charts to watch !
(4:10 PM) ajayvee: RIMM had a good day +2.25
(4:10 PM) Nick_H_SanDiego: Tom do you watch the Yes/EUR cross? Gartmen was saying that perfectly predicted the 350 pt break on Dow on Friday
(4:10 PM) Fulkdaddy: GM is the only green on my screen.
tomthetrader: RIMM DTO TWM
(4:11 PM) Alex1978: nick, didnt he also say that if it breaks 126 to the upside that the bear market was over????
tomthetrader: are the greens on my screen
tomthetrader: 13.00 INTC OUCH
(4:12 PM) Nick_H_SanDiego: Might have Alex...didn't read it that closely...was more interested in that being an indicator for the equity mkt direction
(4:12 PM) Alex1978: cool
(4:12 PM) thomas_Poland: AA -10%
(4:12 PM) Nick_H_SanDiego: Well now the risk/reward on the Cisco options is like 1:100 so maybe they'll explode by Friday.
tomthetrader: you are out right ?
(4:13 PM) Nick_H_SanDiego: Crandall was on CNBC today talking about all the nickle-and-dime fee add-ons
(4:13 PM) Nick_H_SanDiego: I'm flat
(4:13 PM) Nick_H_SanDiego: Oh, no, still own the options...
(4:13 PM) Nick_H_SanDiego: but only $600 cost basis...so I'm holding them now
tomthetrader: RIMM acted well in a POOR close
(4:14 PM) Nick_H_SanDiego: RIMM just seems really cheap
(4:14 PM) Nick_H_SanDiego: All the ads for the new BB touch are playing out here...that is really cool new product
tomthetrader: yes ..too many good products
(4:14 PM) ajayvee: it was cheaper this morning
(4:14 PM) Nick_H_SanDiego: The new Blackberry that competes with iPhone...pretty cool...I want one
tomthetrader: VIX 70.00
(4:15 PM) Fulkdaddy: Thursday's gains are all gone already
(4:15 PM) Fulkdaddy: Back at Wednesday's close
tomthetrader: Back to last night
tomthetrader: we were trading 850 last evening Dave !
(4:16 PM) Fulkdaddy: yes
tomthetrader: just 6.5 hours of churn and burn casino Royale
tomthetrader: 850-885
tomthetrader: range end on the lows like another Trend day ?
tomthetrader: the 40th since September
(4:17 PM) Fulkdaddy: Turnaround Tuesday?
tomthetrader: Yes got to be or we will have new lows again
tomthetrader: this is a COMPLEX BOTTOMING PROCESS
(4:18 PM) Fulkdaddy: What level do we have to break to get you to go short here Tom?
tomthetrader: right here
tomthetrader: I will start shorting tonight
tomthetrader: if we start to break down
(4:19 PM) Alex1978: doesnt it rally seem weird to you guys that we've come down all this way, but not yet tested the 2002 lows??? talk about unexpected...most people are not talking about that
tomthetrader: all my stops would be set at 48.00 reverse short
tomthetrader: There are so many problems and most revolve around uncertainty as most have never witnessed the carnage
tomthetrader: and most are now out of the market
tomthetrader: the ones left or speculators like us who can go both ways
(4:20 PM) pupster1: just looked at qqqq monthly and 20 which is 2002 lows seems looming for 2009...i don't know but that's depressing....!!!!
(4:20 PM) Fulkdaddy: I heard all the smart money on Wall Street have been sitting on their hands
tomthetrader: the insiders and big Smart money thinks the retest has to be hard
tomthetrader: they keep telling us how hard it is going to be and they are right 1
tomthetrader: this is like pulling teeth
(4:21 PM) Nick_H_SanDiego: We're almost there...about 95% retracement thus far to 2002 lows
tomthetrader: NH NL still diverging
tomthetrader: as stocks ex banks seems to have put in long term lows
tomthetrader: OK
(4:22 PM) Alex1978: also, on a closing basis COMPQ is at new lows for the year...that is VERY telling of more downside
tomthetrader: We will be at it tonight ...and see if 850.00 holds
tomthetrader: Agree
(4:24 PM) Alex1978: BUT, i agree tom...the positive divergences are big which just gives us a very mixed picture
tomthetrader: all indicators just neutral at best
tomthetrader: no real improvement
tomthetrader: nothing to indicate a BUY signal for several days