Monday, November 3, 2008


win in that if there is a selloff in the months before election history suggests a change in the ruling party although one month later the market will be up
(8:36 AM) thomas_Poland: I hope for sell off today and at least 3 days up
(8:36 AM) thomas_Poland: my shorting area 985-1000
(8:36 AM) thomas_Poland: or the open
(8:36 AM) thomas_Poland: sell the open cover on close
(8:37 AM) thomas_Poland: I just need confirmation from my indicators at 9:46
(8:40 AM) ajayvee: ***anyone wanting an invitation to the FinViz Callabrate Room, send me your email thru IM or to, and I'll get an invite out to you. Tom has started to post charts there this weekend. We want to test it out to see how well it works***
tomthetrader: good morning at 9:15 am Est
(8:56 AM) Fulkdaddy: gm
(8:56 AM) thomas_Poland: gm
(8:57 AM) Alex1978: morning
(8:59 AM) berniectx: gm
tomthetrader: please e-mail AJ so we can collaborate on FINVIZ
tomthetrader: He has been nice enough to work with us on this Forums project
tomthetrader: and during the day we can go to that area and chat and look at charts
tomthetrader: just fill out the details
tomthetrader: DRYS taking off on schedule
tomthetrader: as the world recession is pricing in
tomthetrader: EP SM UNG CHK MEE KOL may warrant a look as we digest gains from the BULL run of last week
(9:11 AM) Nick_H_SanDiego: y
(9:12 AM) les13436: y
(9:12 AM) Alex1978: y
(9:12 AM) berniectx: y
(9:12 AM) thomas_Poland: y
(9:12 AM) ctmhou: Yeah, Yeah, Yeah
(9:12 AM) csu30: y
(9:12 AM) breadman8401: y
(9:12 AM) jbljudy: y
(9:12 AM) gerry204: y
(9:12 AM) ajayvee: y
tomthetrader: Go Nader !!!!!!!
tomthetrader: if no audio please click push to talk or log back in
(9:13 AM) ctmhou: Tom, you said to take a look at MEE on 10/29/08 @ 8:37 AM CST and from that time until now, it is up 17.93%. Should have bought...........
tomthetrader: Yes , my son had all the calls ...he went to w. palm to spend it !
(9:15 AM) ctmhou: LOL
tomthetrader: DRYS up this morning
(9:15 AM) ctmhou: Too far for me. It needs to come back a little.
(9:15 AM) pupster1: i'll be selling my DRYS today...loaded up on it Fri..
(9:16 AM) ctmhou: Recount....recount
(9:16 AM) TUESDAY1234:
(9:17 AM) tomthetrader: tomthetrader has bounced TUESDAY1234 from the chat room
(9:18 AM) ctmhou: WOW! You bounced even while talking......impressed.
(9:18 AM) thomas_Poland: no fun for me Craig
(9:20 AM) PhotosbyDill: Good Morning From Sunny Colorado
(9:20 AM) Fulkdaddy: It could be a democratic Tsunami
(9:20 AM) Fulkdaddy: No checks and balances between Executive and Legislative branch
(9:20 AM) thomas_Poland: I am not american but hope McCain will win
(9:20 AM) billb1947: there goes the economy
(9:20 AM) thomas_Poland: Sorry all democrats
(9:21 AM) ctmhou: With Pelosi and's gonna be tough.
tomthetrader: 944-1025
(9:23 AM) ctmhou: All night, the futures were all over the place and probably will open flat from Friday. Amazing.
(9:25 AM) PhotosbyDill: 972.60 Floor PP Tom
(9:26 AM) PhotosbyDill: 964..40 S1,983.20 R1
(9:26 AM) thomas_Poland: Gary I have 963.75
(9:26 AM) thomas_Poland: for ES
(9:26 AM) thomas_Poland: PP
(9:27 AM) PhotosbyDill: Min is @sp.c Thomas I will check ES OK?
(9:27 AM) thomas_Poland: Spx 965.91
tomthetrader: 970.00
tomthetrader: cash now should be lower soon
tomthetrader: OSHKOSH and GOODYEAR good earnings plus lots of bank mergers as we predicted
(9:33 AM) Alex1978: funny, i was looking at going long gold for november just last night
(9:33 AM) thomas_Poland: short
tomthetrader: UYG and XLF looking like they want to hold on
tomthetrader: MSFT ok
tomthetrader: again we are looking for a 1-3% correction to BUY
tomthetrader: but we need to really watch a/d line and up/ down volume
tomthetrader: 971
tomthetrader: spx cash
tomthetrader: as buyers support the market here
tomthetrader: a huge change of character
tomthetrader: POLL : BULL BEAR OR BAGEL ? Please respond !
(9:39 AM) brownmj21: BULL for today.
(9:39 AM) Nick_H_SanDiego: bagel
(9:39 AM) brownmj21: RIMM has been acting nice on the open.
tomthetrader: bagel
tomthetrader: RIMM was a big play and now it should run back to 100
tomthetrader: a/d line will play large
tomthetrader: 10 day 2-1 a/d line is important and could signal a new BULL
(9:41 AM) brownmj21: right now it's on a trailstop--as i missed the sell que out of the main fund last friday.
tomthetrader: good !
tomthetrader: We love RIMM
tomthetrader: but hate risk now
tomthetrader: after all we have been thru but RIMM is getting a ton of business
(9:42 AM) thomas_Poland: hope that 9:40 we start sell off
(9:42 AM) thomas_Poland:
tomthetrader: and should have a blowout 4th quarter and 1st quarter
(9:46 AM) ctmhou: Man, I step away to change children's clothing and BAM!. The ES takes off.
(9:47 AM) ctmhou: Tom, I need for you to click the left mouse button for me...........
(9:48 AM) JR Roden: What do you expect to happen with XLF in the near term (election, next couple weeks)
(9:52 AM) pupster1: sold DRYS for good pfts
(9:52 AM) thomas_Poland: internals are bearish
(9:52 AM) pupster1: where is TRADERS positions now...
(9:52 AM) thomas_Poland: except A/D line
(9:52 AM) thomas_Poland: no positions short term
(9:52 AM) pupster1: TRADERS is Flat then...
(9:52 AM) pupster1: ok
tomthetrader: XLF flat
tomthetrader: JR : I like all the banks after a 1-3% correction
tomthetrader: we will buy XLF buy next week esp options
tomthetrader: we just need to get the election over
tomthetrader: tough trading in here
(10:00 AM) thomas_Poland: die bulls
(10:00 AM) Fulkdaddy: ISM 38...bad
(10:00 AM) JR Roden: Thanks
(10:02 AM) Nick_H_SanDiego: Tom did you say there was a gold chart out on finviz collaborate
tomthetrader: ABX
(10:03 AM) nimesh_: tom, we should be shorting here?
tomthetrader: is one listed on the FINVIZ
(10:03 AM) thomas_Poland: a/d line is going down fast
(10:04 AM) nimesh_: any current futures trades?
tomthetrader: No Flat
tomthetrader: EP is a great stock
tomthetrader: But unusually warm weather is keeping UNG down
tomthetrader: and it's stocks
tomthetrader: good for economy bad for stock holders of OILs and complexes
tomthetrader: market showing ver good action and the buyers are supporting and Bears turning to bulls
tomthetrader: tough day to short ...lots of break evens or losses for them
tomthetrader: many want to short
tomthetrader: and many are getting rebuffed
(10:15 AM) Nick_H_SanDiego: die bears
(10:16 AM) thomas_Poland: die bulls
(10:18 AM) RV_trader: IWM relative strength
(10:18 AM) thomas_Poland: don't you IWM me here RV
tomthetrader: yes
tomthetrader: a polish hanmmer >
(10:23 AM) thomas_Poland: I know he is
(10:24 AM) thomas_Poland: but don't tell anyone
(10:24 AM) thomas_Poland: so they will not buy
(10:24 AM) thomas_Poland:
tomthetrader: let me know how you all are doing ....I am thinking the markets will be very tough to trade these next few days
(10:30 AM) TraderTim: sitting on hands looking for edge
(10:30 AM) Nick_H_SanDiego: Tom what do you think about putting on some type of straddle for the election?
(10:31 AM) ctmhou: Don't blink, this market will hand you a loss.
(10:31 AM) thomas_Poland: ok I lower my stops now
(10:31 AM) Nick_H_SanDiego: Gary where were your pivot points showing for $SPX ?
tomthetrader: DRYS
(10:32 AM) Nick_H_SanDiego: drys has a nice runup
tomthetrader: CSCO a BUY ?
(10:33 AM) Nick_H_SanDiego: what's the gap up this morning?
(10:33 AM) ctmhou: CSCO............haven't heard that in awhile.
tomthetrader: up 50 down 50 dow
tomthetrader: yes Buy CSCO
tomthetrader: on earnings
tomthetrader: play
tomthetrader: Market refuses to go down
(10:34 AM) Nick_H_SanDiego: DRYS gap up this morning?
tomthetrader: just will "digest ' gains
(10:34 AM) Nick_H_SanDiego: Big Nov 22.50 DRYS call activity
tomthetrader: DRYS hit 20% up
tomthetrader: EGLE is my play there
tomthetrader: Buy EGLE calls
(10:35 AM) Nick_H_SanDiego: DRYS earnings...that wa it
tomthetrader: RIMM ...those calls that I sold too soon are now in orbit !
tomthetrader: RIMM
(10:36 AM) Nick_H_SanDiego: easy come easy go
tomthetrader: is a active momo stock
tomthetrader: easy $
(10:38 AM) Nick_H_SanDiego: I was trading options for earning on RIMM back in March @ $120 level. Just incredible decline.
(10:38 AM) Nick_H_SanDiego: Way oversold
tomthetrader: buyers keep stepping in as expected
tomthetrader: XLF and UYG acting well
(10:40 AM) thomas_Poland: unfortunatelly
tomthetrader: tough market to short huh Thomas ?
tomthetrader: and go long
(10:40 AM) thomas_Poland: yes
(10:40 AM) thomas_Poland: hard to short
tomthetrader: I am not going to trade today until some things settle down
(10:40 AM) thomas_Poland: or make money on short
(10:40 AM) thomas_Poland: but long is not making money today too
(10:43 AM) Alex1978: i think short term (i.e. 1 day) there are too many bulls so my bias is bearish but it wont last more than a full trading day i think
tomthetrader: market is "wearing down" and will be a bit more vulnerable on both long and short side
tomthetrader: as the day wears on there should be a move of sustained down or up
tomthetrader: most likely down
(10:45 AM) pupster1: so with whichever the wind blows....
tomthetrader: well i think it will depend on risk
(10:46 AM) pupster1: y
tomthetrader: if you are risky and want a trade
tomthetrader: you can flip a coin
(10:46 AM) Alex1978: good trade could be long iwm and short spy/dia
tomthetrader: if you are a trader and want to hold off for a better set up
tomthetrader: I think that has been good advice so far
tomthetrader: Bullish a/d and smallcaps ..bearish getting to severe overbought
(10:48 AM) pupster1: Solars looking good...CSIQ CSUN SOLF TAN...
(10:53 AM) pupster1: NBR sporting a Bull Flag on day chart ... small risk
(10:59 AM) ajayvee: solars anticipating a 'bama win?
(11:08 AM) thomas_Poland: boring .. isn't it?
(11:10 AM) ajayvee: Zzzzzz, yes, zzzzz
(11:12 AM) thomas_Poland: out with small loss
(11:12 AM) thomas_Poland: I have confirmation we can go higher
tomthetrader: yes
tomthetrader: ESLR my fave
tomthetrader: might add some positions here soon
tomthetrader: anyone miss October
tomthetrader: ??????????????????????????????????????
tomthetrader: we can actually breathe now ?
tomthetrader: Is the bear over ?
(11:17 AM) thomas_Poland: yes ?
(11:17 AM) thomas_Poland: for now
tomthetrader: maybe we can get some christmas shopping in ?
(11:21 AM) thomas_Poland: anybody miss VIX at 80??
(11:21 AM) thomas_Poland:
(11:22 AM) Alex1978: until something happens just sitting on my hands
tomthetrader: agree
tomthetrader: seeing major bottoming
(11:22 AM) Alex1978: i think we need some music...more dropkick murphys
tomthetrader: in all sectors
(11:22 AM) ctmhou: Doesn't that hurt, THomas?
tomthetrader: I think we need a winning trade ?
(11:23 AM) Alex1978: yes lol that too
tomthetrader: CSCO is a possible options big win
tomthetrader: 17.00
tomthetrader: MSFT
tomthetrader: FSLR our earnings pick of the week last week has gone up 30% and options up 300%
tomthetrader: IBM slowly improving
tomthetrader: good sign of bottom
tomthetrader: GS looks like the worst is over
(11:25 AM) Nick_H_SanDiego: I have $SPX just at pivot point of 965.91
(11:26 AM) Nick_H_SanDiego: bounce off PP
(11:26 AM) Alex1978: tom, what's your opinion on gold?
(11:26 AM) Alex1978: y
(11:26 AM) berniectx: y
(11:26 AM) thomas_Poland: y
(11:26 AM) JR Roden: y
(11:26 AM) billb1947: y
(11:26 AM) thomas_Poland: you woke me up
(11:26 AM) Nick_H_SanDiego: Alex did you look at the 2 GLD elliott wave I charts Tom sent around
(11:26 AM) les13436: y
(11:27 AM) csu30: y
(11:27 AM) Nick_H_SanDiego: amen
(11:27 AM) Alex1978: no i didnt...when was the email sent?
(11:27 AM) Nick_H_SanDiego: 7:38am Pacific Time
(11:27 AM) thomas_Poland: Nick .. in my opinion your platform does not make a good job with Elliot
tomthetrader: ssri
(11:28 AM) Nick_H_SanDiego: Thomas, what platform would you recommend?
tomthetrader: FCX
(11:28 AM) thomas_Poland: if . ... if I make elliot I do it myself
(11:28 AM) thomas_Poland: but I don't lately
(11:29 AM) thomas_Poland: MTPredictor seems ok
(11:29 AM) thomas_Poland: for trading
(11:29 AM) Nick_H_SanDiego: My platform only analyzes the previous 300 bars
(11:29 AM) Nick_H_SanDiego: which apparently they've backtested and found that to be the optimal look-back period
(11:30 AM) thomas_Poland: but waves need some symmetry
(11:30 AM) ctmhou: Tom, ZTR must be getting ready to spit out a divedend.
(11:30 AM) thomas_Poland: those are not symetrical
(11:31 AM) Alex1978: my (long) gold trade would be just a bounce in november. there is good support around the 70-71 area on GLD
(11:31 AM) thomas_Poland: I am not saying pefect symmetry but some
tomthetrader: DBA DBC FCX EP UNG CHK
tomthetrader: SM isstill a great position
(11:38 AM) Nick_H_SanDiego: I've ordered a couple of books to try to learn more about Elliott theory
(11:38 AM) Nick_H_SanDiego: If anyting, because the Elliott software is so expensive, that I think gives us owners an edge because not that many people can afford it
(11:39 AM) thomas_Poland: elliot can be good I think
(11:40 AM) thomas_Poland: but I think you always need to have two possibilities
(11:40 AM) thomas_Poland: and of of those will play out
(11:41 AM) Nick_H_SanDiego: Plus Optionetics teaches only 2 entry setups to look for...which are the Wave 4 completed trade (start of Wave 5): The Oscillator must pullback to between 90% and 140%, Wave 4 retracement should be no less than 24% and no more than 62% length of Wave 3, and then the price my break above the Elliot Breakout Trigger (EBOT)
(11:41 AM) thomas_Poland: long with close stop
(11:42 AM) Nick_H_SanDiego: And then Wave 5 completed trade (Wave 5 retracement begins): prior Wave 4 conditions have been met (above criteria), the Wave 5 oscillator snould be noticeable weaker than Wave 3 oscillator level, price must break above the EBOT
(11:44 AM) Nick_H_SanDiego: Thomas, does your Ensign do Elliott?
(11:44 AM) thomas_Poland: don't know
(11:44 AM) thomas_Poland: did not check it as I use elliot not so often
(11:44 AM) thomas_Poland: bernie here?
(11:45 AM) thomas_Poland: beeeeeeerrrrnieeeeeeeeeeeeeeeee!!
(11:47 AM) thomas_Poland: ok people sleep
(11:47 AM) thomas_Poland: I hope they can move this market before elections
(11:55 AM) thomas_Poland: we should go higher
(11:55 AM) thomas_Poland: hopefully making HOD soon
(11:56 AM) thomas_Poland: I hope we can go to 985-987 so we can short
(11:56 AM) thomas_Poland: die bears !
tomthetrader: funny
tomthetrader: csco acting horrible ...coule be a sign /
tomthetrader: could
(12:03 PM) Alex1978: auto sales coming out
(12:04 PM) thomas_Poland: is it important Alex?
(12:04 PM) berniectx: left for awhile whats up Thomas??
(12:04 PM) Nick_H_SanDiego: Gary, those pivot points are magic....the $SPX came right down to PP and turned...exactly on the dot
(12:04 PM) thomas_Poland: you said you are using Ensign map?
(12:04 PM) thomas_Poland: bernie?
(12:04 PM) Alex1978: could be for GM which is a DOW component....we'll see
(12:05 PM) berniectx: yes
(12:05 PM) thomas_Poland: thanks Alex
(12:05 PM) thomas_Poland: bernie when you recalculate it for every few hours it gives totaly different results
(12:05 PM) thomas_Poland: not so sure it is usefull so much
(12:06 PM) thomas_Poland: you make it on 5 or 2 min charts?
(12:06 PM) Alex1978: VIX getting pretty extended to the downside still leaning mildly bearish
(12:06 PM) berniectx: not sure how helpful but like watching it on 2 min charts
(12:06 PM) thomas_Poland: yes ensign says the best on 2 min
(12:06 PM) thomas_Poland: I will watch it for some time
(12:07 PM) Nick_H_SanDiego: Looks like the $SPX has run out of steam here...972
(12:07 PM) thomas_Poland: I hope we can go to 985 Nick
(12:07 PM) pupster1: NDX and NQ's look to take off here possibly
tomthetrader: yep
tomthetrader: the trend is now up
(12:08 PM) thomas_Poland: 12:30 I will be watching carefully
tomthetrader: AMGN
tomthetrader: IBM
(12:13 PM) thomas_Poland: What time you have now?
(12:14 PM) thomas_Poland: 12:13 or 1:13?
(12:14 PM) thomas_Poland: thanks
(12:15 PM) Nick_H_SanDiego: 12:15 thomas
(12:16 PM) ctmhou: Auto sales down 30%.....................DUH!
(12:19 PM) ctmhou: Oil is down 2.39
(12:19 PM) ctmhou: What about KOL?
(12:20 PM) ctmhou: Sorry. Didn't see it.
(12:20 PM) Three_Taverns: tom - when we made a low on 10/10 and then had a retest on 10/27, do you think that was the retest and now the bottom has been put in?
(12:20 PM) Three_Taverns: is this a private room? i will leave if i am not supposed to be here.
(12:21 PM) Three_Taverns: thanks.
(12:21 PM) Three_Taverns: thank you, sir
(12:21 PM) Three_Taverns: ok.
tomthetrader: stop in and take a look and you are welocome to have a free day trial
(12:22 PM) thomas_Poland: first time somone normal
(12:23 PM) Three_Taverns: lol.
(12:23 PM) ctmhou: I noticed he called you Sir, Tom. Do we have to?
(12:23 PM) thomas_Poland: yes Three we meet a lot of psychos here
(12:24 PM) thomas_Poland: But Tom is fast and rude
(12:24 PM) thomas_Poland: 12:30 close
(12:25 PM) thomas_Poland:
(12:26 PM) Three_Taverns: do you intraday trade futures? i trade the es mostly
(12:27 PM) thomas_Poland: hello 12:30 bar
(12:27 PM) ctmhou: Three missed last week.
(12:28 PM) Three_Taverns: ok. patience is a good thing.
tomthetrader: BGU 3x Bull Rut 1000
(12:28 PM) Three_Taverns: only 1 trade for me setup today. have to follow the rules
(12:28 PM) Three_Taverns: sounds like your rules are similar
tomthetrader: TNA 3x BULL RUT 2000
tomthetrader: ERX 3x Bull oil
(12:29 PM) Three_Taverns: well leveraged there for a stock, i think.
tomthetrader: FAS 3x Bull financials
(12:29 PM) Nick_H_SanDiego: Tom, do you have a website where we can read more about the 3x
(12:29 PM) thomas_Poland: 3X?????
tomthetrader: BGZ
(12:29 PM) thomas_Poland: Oh my god
(12:29 PM) ctmhou: More ways for us to lose our money.
tomthetrader: TZA
tomthetrader: ERY
tomthetrader: FAZ
(12:29 PM) thomas_Poland: yes Craig
tomthetrader: are the 3x shorts
(12:29 PM) Three_Taverns: ctmhou - last week was volatile, wasn't it.
(12:29 PM) Nick_H_SanDiego: yea 3x etf traded with 4x day trade buying power margin = 12x leverage
tomthetrader: just what we want
(12:30 PM) ctmhou: I'll say
(12:30 PM) thomas_Poland: Three .. last week tom made 86k using 200k account with margin
tomthetrader: can use in place of riskier if needed
(12:30 PM) Three_Taverns: wowza
(12:30 PM) Three_Taverns: that is real good. thanks for the post, thomas
(12:31 PM) thomas_Poland: read carefully .. TOM MADE for example I am to stupid to follow
(12:31 PM) Three_Taverns: going to go out on a limb and guess your are trading from poland.
(12:31 PM) ctmhou: By the way, Thomas keeps the performance on the portfolio.
(12:31 PM) thomas_Poland: yes Three
(12:31 PM) thomas_Poland: from Poland
(12:32 PM) Three_Taverns: ok. better let you all focus. thanks for your help and being able to watch for today.
(12:34 PM) Three_Taverns: although i think the 499 per year is very reasonable.
(12:34 PM) Three_Taverns: now, i will let you all focus
(12:34 PM) Three_Taverns: and me too
(12:35 PM) thomas_Poland: Three one good trade .. often here
(12:44 PM) Alex1978: alright let's see if we get some juice now
(12:45 PM) thomas_Poland: alex down?
(12:45 PM) Alex1978: ya im still bearish, just for today
(12:46 PM) thomas_Poland: all day I get confirmations we should go up
(12:46 PM) thomas_Poland: sh..
(12:46 PM) thomas_Poland: boring today
(12:46 PM) Alex1978: i think so far it's just been hard to gauge
(12:46 PM) thomas_Poland: yep
tomthetrader: ndaq also acting poor could be a tell
(12:52 PM) pupster1: NDAQ up against resist.
tomthetrader: add csco
tomthetrader: and you see the 6 day up move could be over soon
tomthetrader: financials hanging in
tomthetrader: SPY about UNCH again
tomthetrader: not buying anything here but some long term stocks
(12:59 PM) pupster1: TRADERS is flat...y?
(12:59 PM) Nick_H_SanDiego: Ok, SPX almost back down to 965.91 pivot point
tomthetrader: Yes FLAT
tomthetrader: I think we are overbought but so many eager buyers looking to get in
tomthetrader: and they are much more eager than 3 weeks ago
tomthetrader: 17-12 a/d +
tomthetrader: BKX just went -
tomthetrader: 966 ES
tomthetrader: 962.50 fair
tomthetrader: 64.00 oil
tomthetrader: gas 1.99 in over 200 locations today
(1:05 PM) Three_Taverns: do you trade the dollar, tom the trader?
(1:05 PM) Three_Taverns: alright.
(1:07 PM) Three_Taverns: have traded the 6E future some. that would be the eur/usd
(1:07 PM) ctmhou: Not me
(1:07 PM) Three_Taverns: dunno that one.
(1:07 PM) Alex1978: never heard of it
(1:07 PM) ajayvee: haven't heard about that one
(1:10 PM) thomas_Poland: where can we read about it?
(1:10 PM) thomas_Poland: or we can't
(1:10 PM) Three_Taverns: good risk/reward there
(1:10 PM) thomas_Poland: ok
(1:11 PM) thomas_Poland: understand
tomthetrader: any questions
(1:16 PM) Nick_H_SanDiego: this is called the "full house" trade?
(1:16 PM) csu30: Thanks, Tom, that was very interesting
(1:17 PM) Three_Taverns: i wonder what instrument(s) they trade the full house trade with?
(1:17 PM) Three_Taverns: ok.
(1:18 PM) ctmhou: So after being out of the market since your 10/16/07 call to get out, I can get back in? I'm ready.
(1:18 PM) Three_Taverns: alright.
(1:19 PM) Three_Taverns: lol
(1:20 PM) Three_Taverns: did that cost you any couch time?
(1:20 PM) Three_Taverns:
(1:20 PM) Three_Taverns: rofl
(1:20 PM) ctmhou: Planning your demise? Uncle, sure.
tomthetrader: yes ..he is a plastic surgeon
tomthetrader: maybe a surprise ?
(1:21 PM) ctmhou: You can only hope..........
tomthetrader: yes
(1:21 PM) ajayvee: lol
tomthetrader: I am dreaming now
tomthetrader: best put in a trade ?
tomthetrader: keep my mind busy ?
(1:21 PM) Alex1978: you know the day is slow when....
tomthetrader: yes
(1:22 PM) Alex1978: lol
(1:22 PM) ctmhou: Reality will walk through your door......
tomthetrader: Ouch
tomthetrader: I saw a girl on TV that wanted he Dr. to mover her up from her FFF cup
tomthetrader: I would take a B+ ?
tomthetrader: How do some get FFF
tomthetrader: I didn't know they existed /
(1:23 PM) ctmhou: My brother got a lot of those in school.........
(1:24 PM) ctmhou: He now has his GED.
tomthetrader: how would you like to go to Vic secret and say I want a FFF cup bra for my wife for Xmas ?
tomthetrader: LOL
tomthetrader: MS up1%
(1:25 PM) Alex1978: not sure if you guys have seen this but its pretty funny....
tomthetrader: RIMM holding on to it's gains
tomthetrader: Hilarious Hitler gets a margin call
tomthetrader: saw it Friday ...good one
tomthetrader: GM to start RED tag sale early
tomthetrader: as sales are worst ever
tomthetrader: the economy shut down for 3 weeks more or less
tomthetrader: and we will see that in auto sales and most nusinesses
(1:30 PM) Alex1978: hey tom, did you happen to come across a report that said that no new cars had been sold last week or the week prior?
tomthetrader: no
tomthetrader: there has to be some car buying going on
tomthetrader: they don't seem to be slowing production in TN
(1:31 PM) Alex1978: ya i had read somehwere (cant remember where though). i figured the likelihood of that happening is pretty close to zero
tomthetrader: but I do know that layoffs here in florida on small businesses were the highest on record last week
tomthetrader: records date back to the late 60's
tomthetrader: so small business in Fla. hit bottom
tomthetrader: and should rcover quickly
tomthetrader: as there is a panic element in the small business areas and usually layoff too soon then hire back quickly
(1:34 PM) Three_Taverns: that won't make real estate happy, since it is hard to buy a house without income.
tomthetrader: yes a interesting play there is JOE
tomthetrader: Take a look at JOE
tomthetrader: we can go to Finviz and look
tomthetrader: I am there now for those who are in
(1:36 PM) Nick_H_SanDiego: Audio gone
(1:36 PM) Nick_H_SanDiego: back
(1:36 PM) Nick_H_SanDiego: oh I thought you were joking about the election
(1:37 PM) Three_Taverns: eps growth rate is down a whopping 72% on JOE, according to s and p compustat.
tomthetrader: JTP joe the plumber
(1:38 PM) Three_Taverns: do you usually make value type trades, tom
tomthetrader: at this market stage yes
(1:38 PM) ctmhou: How do we collaberate?
(1:38 PM) Three_Taverns: lol. alright. joe the plumber
(1:40 PM) Three_Taverns: maybe if obama gets elected he will fund more sub prime loans.
(1:40 PM) Three_Taverns: tom can ride the swings
tomthetrader: market acting like they have priced in everythiong ?
(1:40 PM) Nick_H_SanDiego: Yea full steam ahead with affirmative action mortgage lending
(1:41 PM) Nick_H_SanDiego: Has oneone been trading the channeling SPX this morning?
(1:41 PM) Three_Taverns: you are refering to the RE market and JOE, with your question immediately above, tom?
(1:41 PM) thomas_Poland: I lost paltalk and a good chart commentary I suppose
(1:43 PM) Three_Taverns: thomas - tom spoke of JOE
tomthetrader: yes
tomthetrader: qqqq and joe
tomthetrader: qqqq next
tomthetrader: 962.50 seems "fair value" here
tomthetrader: spx cash
(1:50 PM) Three_Taverns: tom - the ES is having a narrow range today compared to the high range volatile sessions in recent trading. what do you think is the reason(s) for the tighter range today?
tomthetrader: and i would assume that we should bounce off here
tomthetrader: ELECTION
tomthetrader: and the digestion of up to 40% gains last week
(1:50 PM) Three_Taverns: alright. thank you, sir
(1:50 PM) thomas_Poland: did you say erection Tom?
(1:50 PM) thomas_Poland:
tomthetrader: NR7 is in line
(1:51 PM) thomas_Poland: oh .. election?
tomthetrader: Thomas ..down Mr TESTIN
(1:51 PM) Three_Taverns: big employment number due on friday
(1:51 PM) thomas_Poland:
(1:51 PM) Three_Taverns: and the election on tuesday
(1:52 PM) Three_Taverns: that makes sense.
(1:52 PM) pupster1: got booted fron Pal T.
(1:52 PM) thomas_Poland: I have possible buy from geometry
(1:52 PM) thomas_Poland: hope this works
(1:53 PM) Nick_H_SanDiego: Paltalk burbed
(1:53 PM) ctmhou: Buyin' on hope, Thomas?
(1:53 PM) thomas_Poland: yes and praying
(1:53 PM) thomas_Poland: I did not buy here Craig
(1:53 PM) thomas_Poland: I bought earlier
(1:53 PM) berniectx: I want to buy 962 ES
(1:54 PM) thomas_Poland: I still think we will see HOD in the last hour of trading
(1:54 PM) thomas_Poland: today is pain in the a... no movement to trade
tomthetrader: some of the Q's are breaking down as we thought
(1:54 PM) Nick_H_SanDiego: We're right at the pivot point again
(1:55 PM) thomas_Poland: Nick you liked pivots ?
tomthetrader: CSCO goog etc
(1:55 PM) thomas_Poland:
(1:55 PM) Nick_H_SanDiego: Well I realized I have them in my Cybertrade platform, so I've put them on the chart
(1:55 PM) Nick_H_SanDiego: Other traders use them so they do create Supp & Res levels
tomthetrader: I am looking at my book and this is the longest we have gone without a trade ....since Q2
(1:56 PM) Nick_H_SanDiego: bernie what gives you the 962 level?
(1:56 PM) thomas_Poland: If you want some ideas how to trade those pivots read Carter's book
(1:56 PM) Nick_H_SanDiego: got it coming in the mail...thx
(1:56 PM) Nick_H_SanDiego: We just broke thru it and the lower BB
tomthetrader: 962.50 is a "successful" area to Buy
(1:57 PM) thomas_Poland: ok i am out
(1:57 PM) thomas_Poland: few points again
(1:57 PM) thomas_Poland: f....g day
(1:57 PM) thomas_Poland:
tomthetrader: as there are buy orders laced along the 950 -962.50 area
(1:58 PM) Nick_H_SanDiego: y
(1:58 PM) Alex1978: y
(1:58 PM) TraderTim: y
(1:58 PM) gerry204: y
(1:58 PM) jbljudy: y
(1:58 PM) bloomert: fine now
(1:58 PM) csu30: y
(1:58 PM) ajayvee: y
(1:58 PM) Three_Taverns: good sound
(1:58 PM) berniectx: y
(1:58 PM) breadman8401: y
(1:58 PM) bogdan07: y
(1:58 PM) Fulkdaddy: y
(2:01 PM) ctmhou: Is today's market more representative of a normal day?
(2:01 PM) ctmhou: Thanks.
(2:03 PM) ctmhou: No star rating?
(2:04 PM) Alert: ====SECURITY BULLETIN!=======
Please be wary of third party websites that ask you for your Paltalk password. If you access a website that does not end in '' (for example, sites named or are not websites), you should never have to enter your Paltalk password. Paltalk cannot be responsible for 3rd party payments and any dispute must be between you and the person who paid for the account.
tomthetrader: Buying 962.50 will probably result in a decent gain int term trade it is a toss up
(2:06 PM) ctmhou: Did you say 100 contracts? Holy Cow!
(2:07 PM) Nick_H_SanDiego: In SSO @ 31.79 for 2000 shs
(2:07 PM) ctmhou: Thanks for the help, Tom.
(2:07 PM) billb1947: sso
(2:08 PM) PhotosbyDill: Tom sent 60 & 15 Min QQQQ Sorry to be taking awhile but you know what I am dealing with. I hope!
(2:09 PM) Nick_H_SanDiego: tom what did you say your upside target was for today on spx?
tomthetrader: yes and I just mailed it out
(2:09 PM) Nick_H_SanDiego: 977?
tomthetrader: 975-980
tomthetrader: qqqq charts sent out we are looking for 6th straight up day
(2:10 PM) Nick_H_SanDiego: stopped out b/e
(2:12 PM) pupster1: test
(2:12 PM) pupster1: test123
(2:12 PM) pupster1: That's PalTalk I was testing lol
(2:13 PM) pupster1: lol
(2:13 PM) Nick_H_SanDiego: that too
(2:13 PM) pupster1: wasn't the case........
tomthetrader: if anyone does want to use mics are available
tomthetrader: Three T : what is your experience in ?
(2:14 PM) Three_Taverns: in mirc?
tomthetrader: market / trading
(2:14 PM) Nick_H_SanDiego: ok we have a 4 bar test of this 962.50 level
(2:14 PM) Three_Taverns: or do you mean on the 962.50 call?
tomthetrader: futures options past exp ?
(2:15 PM) Three_Taverns: oh. i am a trader. been trading for about 10 years.
tomthetrader: or 962.50 !
tomthetrader: Great
tomthetrader: ES mostly ?
tomthetrader: any particular trining or methodology /
(2:16 PM) Three_Taverns: mostly ES for the last about 4 years. trading stocks/options prior to that.
(2:16 PM) Nick_H_SanDiego: stopped out again SSO 31.70
tomthetrader: ES much better ?
(2:16 PM) Three_Taverns: for me. but, that is just me
tomthetrader: I will buy 1 here
tomthetrader: ES long 1
tomthetrader: 961.50 cash
tomthetrader: stop 944
(2:18 PM) Nick_H_SanDiego: bounce off lod
(2:18 PM) Nick_H_SanDiego: Tom each pt in es is $50 right?
(2:18 PM) billb1947: at 5min 50sma
(2:19 PM) ctmhou: Yes, Nick on ES.
(2:21 PM) Three_Taverns: i got no trigger on the 962.50, but i am an intraday trader, so for someone, like you all, that trade more position type traders, that means nothing. i hope it goes to 1000 for you all.
(2:21 PM) Nick_H_SanDiego: three what signals do you use?
(2:22 PM) Three_Taverns: it is proprietary, so can't mention the specifics. i'm sorry.
(2:23 PM) Three_Taverns: i can say that my favorite trades are market profile generated.
tomthetrader: can you explain ?
(2:24 PM) nimesh_: tt, are u long or short at moment?
tomthetrader: Long Nimesh '
(2:24 PM) nimesh_: thanks
tomthetrader: 1 ES as a day trade from 961.50 cash
tomthetrader: stop 944.00
(2:25 PM) Three_Taverns: look how well tom did last week. i wouldn't be looking to fix it since in my opinion 86k on a 200k account isn't broke.
(2:25 PM) Nick_H_SanDiego: Ok for those of you who are using SSO instead of /ES, I did some calculations, and 758 shares of SSO is = $50 per pt in $SPX, just like the future, so that is how to size your position
(2:26 PM) ctmhou: Oil is off over $4.
tomthetrader: Time will tell whether we see such a bullish break but the indications are, at a
minimum, that the banks index is set to outperform the broader market.
(2:31 PM) Three_Taverns: like the 2 to 1 risk to reward on your trade.
tomthetrader: 959.00 stop cash SPX
(2:32 PM) RV_trader: VIX broke down gard 5min
(2:32 PM) RV_trader: hard
(2:32 PM) Three_Taverns: now even less risk since you all moved your stop up.
(2:33 PM) Three_Taverns: do you still have the 975 target for today and 1000 for the overall trade?
(2:33 PM) Nick_H_SanDiego: Three, Tom uses the $SPX cash value for his stops and entry during market hrs when trading /es
(2:34 PM) Three_Taverns: ah. thanks.
(2:34 PM) Nick_H_SanDiego: hopefully your platform can use a watch a different instrument for stops
tomthetrader: CAL kicking it
tomthetrader: amr
tomthetrader: nice airline early cycle runs
tomthetrader: CAL
tomthetrader: is a buy
tomthetrader: Transports have only gone down 13% this bear ?
tomthetrader: outperformance is good
tomthetrader: Drugs doing better also
(2:36 PM) ajayvee: drugs make everything go better
(2:37 PM) Alex1978: lol
(2:37 PM) thomas_Poland: we stopped just at 200 sma on 5 min chart
(2:37 PM) Alex1978: ditto on 15min chart
tomthetrader: 963.50
(2:38 PM) Alex1978: i am slowly add to longs but keeping my hedges on
(2:38 PM) Three_Taverns: there you go. there is a pop for the longs. wtg
tomthetrader: stop Break even for a day trader
(2:42 PM) Three_Taverns: do i understand correctly, it would only cost me $75 to stay here until the end of the year 2008?
(2:43 PM) thomas_Poland: Three you like here?
(2:43 PM) thomas_Poland:
(2:43 PM) Three_Taverns: yep.
(2:43 PM) thomas_Poland: you know why? Becaue TTT is the best
(2:44 PM) thomas_Poland:
tomthetrader: It is our slowest day of the year
(2:44 PM) thomas_Poland: and has the best group ever
tomthetrader: we usually have a lot more going
(2:44 PM) thomas_Poland: yes sh...y day
(2:44 PM) thomas_Poland:
(2:44 PM) berniectx: TTT Tom and this group is the best out there bar none!!
tomthetrader: Thank you Bern
(2:45 PM) thomas_Poland: agree
(2:45 PM) thomas_Poland:
tomthetrader: great group of guys and gals
tomthetrader: all working for the same goal
(2:45 PM) thomas_Poland:
(2:45 PM) thomas_Poland: Tom did you officialy go long?
(2:45 PM) Three_Taverns: sometimes cash is the best position. you have to follow your rules.
tomthetrader: yes
tomthetrader: 1 ES
(2:46 PM) thomas_Poland: where?
(2:46 PM) thomas_Poland: and you forgot MSN ?
(2:47 PM) Three_Taverns: intraday trading is tough. see how the position trade tom called is still long.
(2:48 PM) thomas_Poland: long here with Tom .. a little to late but ...
(2:48 PM) Alex1978: the position trades are far more profitable too
(2:48 PM) thomas_Poland: that is why I learned Taylor method for swing trading
tomthetrader: yes
(2:49 PM) Alex1978: im long a little GLD
(2:50 PM) JR Roden: Where can I learn about the Taylor method? (is there a book?)
(2:50 PM) thomas_Poland: JR yes
(2:50 PM) thomas_Poland: Taylor trading method .. not as good as TTT method
(2:50 PM) thomas_Poland:
(2:50 PM) thomas_Poland: old book from 50's
(2:51 PM) thomas_Poland: very very hard read
(2:51 PM) thomas_Poland: you have to read it like 20 times/
(2:51 PM) gerry204: mkt seems very weak today
(2:52 PM) thomas_Poland: and again my plan was short the open cover on close ..
(2:52 PM) thomas_Poland: didn't I ask you to not let me go long when I say that in the morning?
(2:52 PM) thomas_Poland:
tomthetrader: ZTR : didn't answer your question
tomthetrader: sorry .
tomthetrader: ZTR 80% bonds 20% stocks
tomthetrader: 1331.00 long 1 NQ
tomthetrader: 1279.00 stops
(2:59 PM) JR Roden: how much is a point worth on the NQ ... $5?
(2:59 PM) thomas_Poland: 20
(3:00 PM) JR Roden: Thx.
tomthetrader: .RFYKI those RIMM calls now up large from purchase
tomthetrader: we sold 7.85
tomthetrader: 9.60 now
tomthetrader: bought 5.50
tomthetrader: 1322.00 2 long NQ now
(3:09 PM) JR Roden: Let's see a little election influence drive this up into the end of the day.
tomthetrader: something been rolling over alot but institutions may want to buy here nice to get 1-3% down to "scale" in
(3:16 PM) Three_Taverns: thinking once the 962.50 broke they are using it for resistance. hope it breaks clean to the upside. there is also a market profile area at 62.50 now.
(3:18 PM) Three_Taverns: the battle goes on there.
tomthetrader: 962.50
tomthetrader: funny
tomthetrader: how levels hold
tomthetrader: and the battle goes
(3:30 PM) Three_Taverns: maybe this time.
(3:30 PM) PhotosbyDill: S1on = 947.43 $SPx and 943.50 @ES(D)
tomthetrader: nice
tomthetrader: action
(3:32 PM) PhotosbyDill: PP 963.75 ES and 965.91 $SPx
(3:32 PM) JR Roden: Three - as initiation into the group, you have to buy enough stock today to drive the market up here at the close
(3:33 PM) Three_Taverns: lol. i am too wimpy to do that, jr.
(3:34 PM) Three_Taverns: heavy lifting, but, it keeps trying.
(3:34 PM) Three_Taverns: in my opinion.
(3:35 PM) Three_Taverns: wtg, longs.
tomthetrader: yes
tomthetrader: 1325 stop NQ now
tomthetrader: cash NDX
tomthetrader: 1330 stop NDX
(3:40 PM) ctmhou: You just know that it will drop the last 15 min of the day.
tomthetrader: 1334.50
tomthetrader: stops
(3:40 PM) Three_Taverns: don't say that, ctmhou.
(3:41 PM) ctmhou: Sorry...........just seen this too many times in last couple of weeks
(3:41 PM) Three_Taverns: it might be listening, ctmhou.
tomthetrader: 1335.00 cash
tomthetrader: sold 3 1336.00
tomthetrader: sold 2
tomthetrader: sorry
(3:43 PM) ctmhou: How do you like that Three_Taverns. he talks you to a stop. Pretty cool.
(3:43 PM) Three_Taverns: seems real.
(3:43 PM) Three_Taverns: real is good.
(3:45 PM) Three_Taverns: did my duty via early voting. glad i did too. sounds like the lines will be long tomorrow
(3:45 PM) Three_Taverns: that was a nice trade
(3:46 PM) Three_Taverns: got long and out at b/e and got another entry lower and rode it up decent.
(3:46 PM) Three_Taverns: and all called in real time
(3:48 PM) Three_Taverns: don't see any econ. reports before the 9:30 open.
tomthetrader: NAZ 7th straight win
(3:48 PM) Three_Taverns: we do have factory orders at 10 et
tomthetrader: yes
(3:48 PM) Three_Taverns: wow. 7 in row.
(3:48 PM) Three_Taverns: this is still going
tomthetrader: biggie employment on Friday /..all rumors etc tomorrow
(3:50 PM) Alex1978: SDP
(3:50 PM) billb1947: upw
(3:50 PM) Alex1978: SDP is short
(3:50 PM) billb1947: ultralong utiliti3e
(3:51 PM) TraderTim: sdp is short
(3:51 PM) billb1947: smn is ultrashort
(3:51 PM) billb1947: sorry sdp is ultrashort
(3:53 PM) Three_Taverns: do i understand correctly that you will hold future trades overnight, at times?
(3:54 PM) Three_Taverns: alright.
(3:55 PM) thomas_Poland: NR7 day todday
(3:55 PM) thomas_Poland: today
(3:56 PM) PhotosbyDill: 1333.18 PP
(3:56 PM) Three_Taverns: do you ever trade a stock like rimm using a straddle or strangle option play?
(3:57 PM) tomthetrader: tomthetrader has bounced Flouis1960 from the chat room
(3:57 PM) SOUFIANE231034: bonsoir
tomthetrader: no psenkase deutch
(3:58 PM) Three_Taverns: lol.
(3:58 PM) ctmhou: LOL
(3:58 PM) Three_Taverns: here is 62.50 again
tomthetrader: yes
tomthetrader: amazing how us TRADERS work
(3:58 PM) ctmhou: 1,2 punch, Tom?
(3:58 PM) Three_Taverns: had another question, if you have time
tomthetrader: yes
tomthetrader: naz up pennnies
(3:59 PM) Three_Taverns: do you ever trade a stock like rimm using a straddle or strangle option play?
(3:59 PM) Nick_H_SanDiego: Tom, do you have any data sources where you can see the MOC order balance so we can anticipate what will trigger at the close?
(4:00 PM) Three_Taverns: ok. good.
(4:00 PM) Three_Taverns: look at this bounce off that 62.50
(4:00 PM) Three_Taverns: excellent.
tomthetrader: nice finish
(4:00 PM) Three_Taverns: yes it is.
(4:01 PM) berniectx: be careful all see ya tomorrow
tomthetrader: OK
tomthetrader: Thanks all
tomthetrader: + 400 a/d
tomthetrader: adds to the fuel
tomthetrader: CRB falls
tomthetrader: Oil falls

No comments: