Tuesday, December 2, 2008


tomthetrader: if we fall apart from the multiple lows
(2:12 PM) thomas_Poland: I am covering one with 10 points profit .. still one left
(2:12 PM) Nick_H_SanDiego: not to say there aren't some micro trades intraday the other way, but the big picture is buy mode
tomthetrader: we are up 1000 + from lows last week
(2:12 PM) Nick_H_SanDiego: The /ES has retraced to 78.6% level
(2:12 PM) redliontrader: here comes our first chance to reverse this downdraft
(2:12 PM) Nick_H_SanDiego: red, what makes you say that?
tomthetrader: YM so I would consider the short term up
(2:12 PM) Nick_H_SanDiego: what are you looking at?
(2:13 PM) thomas_Poland: 78,6 is the best Fib retr for ES trading
(2:13 PM) thomas_Poland: and 1,272
(2:13 PM) Nick_H_SanDiego: Thanks TP
(2:13 PM) redliontrader: the tick is moving up out of range
(2:13 PM) Nick_H_SanDiego: I had to add it to my TOS platform.
(2:13 PM) Nick_H_SanDiego: That is really good tip to know...thanks again for reminding me
(2:14 PM) Nick_H_SanDiego: and TRIN turned down
(2:14 PM) Nick_H_SanDiego: I see
(2:14 PM) Nick_H_SanDiego: I need to get 2 monitors so I can watch the market internals simultaneously
(2:14 PM) ctmhou: A/D is 2072-922
(2:16 PM) ctmhou: Nick, do you have laptop laying around?
(2:16 PM) ctmhou: F is making a run.......
(2:16 PM) ctmhou: on a 5 min chart
tomthetrader: 8185 adding 2 more
tomthetrader: YM
(2:23 PM) Nick_H_SanDiego: Well the /ES has now retraced to 88.6% level
tomthetrader: 30% long YM
(2:23 PM) Nick_H_SanDiego: Along with Tom's YM !
tomthetrader: 70% cash
(2:24 PM) Nick_H_SanDiego: Hey Craig, yes, problem is I am using it for Woodies monitoring on the 3 contracts...I have a new computer coming Thursday...just impatient
(2:24 PM) redliontrader: ugh, plow guy just show up, took me away from screens.. you warm guys don't have to worry about that stuff.
(2:24 PM) Nick_H_SanDiego: red are you in Mich ?
(2:25 PM) ctmhou: It's sunny and 70 here in Houston.
(2:25 PM) redliontrader: no, maine
(2:25 PM) ctmhou: Sorry, Red
(2:25 PM) redliontrader: no snow yet, just need to know where to put it when it comes
(2:25 PM) ctmhou: I like MAine. Great place to visit.
(2:26 PM) ctmhou: Tell them your neighbors car.
(2:26 PM) ctmhou: Dump it there.
(2:26 PM) redliontrader: log
(2:26 PM) redliontrader: lol
(2:26 PM) redliontrader: Tom, when is the selling going to stop?
(2:26 PM) Nick_H_SanDiego: YM has retraced 100%
tomthetrader: LOD Dow ?
(2:26 PM) Nick_H_SanDiego: falling knives
(2:27 PM) Nick_H_SanDiego: new lod
(2:27 PM) ctmhou: Probably will make new lows.
tomthetrader: all gains given up !
(2:27 PM) Nick_H_SanDiego: Woodies entry signal failed and hooked down
tomthetrader: But a/d showing about up 100 +
(2:27 PM) Nick_H_SanDiego: It's testing the 100% retracement as support
(2:28 PM) ctmhou: A/D is 1885-1106
(2:28 PM) TraderTim: my A/D +673 for NYSE
tomthetrader: which equals about 9-120 YM up
(2:28 PM) Nick_H_SanDiego: Yea Craig is showing us both #'s
(2:28 PM) ctmhou: 1901-1093
tomthetrader: Q's came back to unch
(2:29 PM) Nick_H_SanDiego: Woodie's just triggered entry signal
(2:29 PM) ctmhou: 1916-1082
tomthetrader: still 30% long all YM contracts no stops
(2:30 PM) ctmhou: Nick, I am going to make a commitment to learn and add Woodie's to my trend following indicators.
(2:30 PM) Nick_H_SanDiego: Tom how many total YM do you have?
tomthetrader: again a/d line should end day up 2-3-1
tomthetrader: 12
(2:30 PM) ctmhou: A/D is 1940-1066
(2:31 PM) Nick_H_SanDiego: Yup Woodie's is LEADING by 1-2 bars
(2:31 PM) redliontrader: getting another shot here to reverse
tomthetrader: 30% long
tomthetrader: 47.08 oil
(2:32 PM) ctmhou: 817 looks like short term support. Damn GM, they did this.
tomthetrader: RUT was a wild ride TF is the widowmaker
tomthetrader: GM pretty bad
tomthetrader: Oil pretty bad
(2:32 PM) redliontrader: wow, gas is down another nickel
tomthetrader: GE good
(2:32 PM) ctmhou: Did GM head drive to Washington in a hybrid?
tomthetrader: 77 days straight down gas
(2:33 PM) ctmhou: OIL is 47.175
(2:33 PM) ctmhou: Both LOD on ES is 817.75
(2:34 PM) redliontrader: i only put a gallon in at a time. Don't want to hold long
tomthetrader: 10 year note
tomthetrader: was key to drop also
(2:35 PM) ctmhou: I was getting gas the other day and a guy in a hummer put $10.00 in.
(2:36 PM) thomas_Poland: tomorrow we will have a powerfull rally in the afternoon
(2:36 PM) ctmhou: A/d is 2013-996
(2:37 PM) ctmhou: 2035-969
(2:38 PM) ctmhou: 2083-929
(2:39 PM) Frank_TTT: so TP...you going to trade with yourself or against yourself?
(2:39 PM) redliontrader: I want to see those bears run for cover
(2:40 PM) ctmhou: A/D is 2117-902
(2:40 PM) ctmhou: 2133-887
(2:41 PM) ctmhou: 2140-880
(2:43 PM) thomas_Poland: if we go below yesterdays low we can be at 773 soon
(2:43 PM) thomas_Poland: tomorrow maybe
(2:43 PM) Fulkdaddy: It appears to me we go lower
(2:43 PM) thomas_Poland: frank?
(2:43 PM) thomas_Poland: today I trade with myself
(2:44 PM) thomas_Poland: I was shorting in two waves for afternoon sell off
(2:44 PM) thomas_Poland: like we had
(2:44 PM) thomas_Poland: tomorrow I will trade for afternoon rally .. very strong one
(2:45 PM) Frank_TTT: good, sounds like you are now trading what you see/believe
(2:45 PM) Frank_TTT: your calls have been awesome
(2:45 PM) ctmhou: Frank, you bach for good?
(2:46 PM) ctmhou: back
(2:46 PM) Frank_TTT: haven't decided yet
(2:46 PM) ctmhou: Need a bear in here
(2:47 PM) ctmhou: A/D is 2103-911
(2:48 PM) Frank_TTT: looking for a new profession. the markets are now like gambling (too much gov intervention), and I hate gambling
(2:48 PM) Frank_TTT: you need a baby sitter?
(2:48 PM) ctmhou: yes I do.
(2:48 PM) ctmhou: Just for the 6 month old
(2:48 PM) Frank_TTT: pay my moving expenses to Houston?
tomthetrader: yes
(2:49 PM) ctmhou: Hummmmm! Let me think............
tomthetrader: Houston is nice ...economy and the people
(2:49 PM) ctmhou: Closer to Tom than San Fran.
(2:50 PM) Frank_TTT: but with $30 oil they may get nasty!
tomthetrader: yes
(2:50 PM) ctmhou: naw
tomthetrader: our 8185 we will sell
(2:50 PM) ctmhou: I don't think. Wait, Buy DTO now.
tomthetrader: 2 8220
(2:51 PM) Frank_TTT: look at DTO, $121+, amazing
(2:51 PM) Nick_H_SanDiego: Yes YM getting toppy here. The 200sma on 5 min YM chart @ 8242 = resistance
(2:51 PM) ctmhou: Tom, DTO would have been the longterm hold since August.
tomthetrader: so +35 on 2
(2:51 PM) Nick_H_SanDiego: plus that's the 38.2 retracement on this upleg
(2:51 PM) Nick_H_SanDiego: touched it
(2:51 PM) ctmhou: A/D is 2129-878
(2:52 PM) ctmhou: 2138+876
(2:52 PM) ctmhou: 2149-862
tomthetrader: 10 long YM now 25% long profits moved to main fund
tomthetrader: 4 YM from 8242 stop break even
tomthetrader: stopped
tomthetrader: 6 long from 8315 stop 8000
(2:55 PM) Nick_H_SanDiego: you may get out of it shortly here
(2:55 PM) ctmhou: ES is getting to an end on 5 min.
tomthetrader: very good buying opp
(2:56 PM) ctmhou: really?
(2:57 PM) ctmhou: A/D is 2200-813
(2:58 PM) ctmhou: 2221-793
tomthetrader: 832.00 ES long 2 contracts
tomthetrader: so we have our CORE positions of 2 ES long 832 6 YM long 8315
(3:00 PM) Frank_TTT: ttt...got an opinion on nat gas? UNG looks to be forming a nice base and setting up for a move up. good volume on up days, lower vol on down days. indicators in telechart are strong
tomthetrader: YES YES YES
tomthetrader: UNG EP
tomthetrader: I really like UNG
tomthetrader: I have seen it appear on all my scans
tomthetrader: CHK stinks but the futures or calls on UNG
(3:01 PM) ctmhou: OHhhhhhh, UNG. I remember that little sh**
tomthetrader: yes Buy craig
tomthetrader: divergances all over
(3:01 PM) Frank_TTT: lol
tomthetrader: the old UNG same place as last year ?
(3:02 PM) Frank_TTT: i remember craig stewed over that missed move for months!!
(3:02 PM) ctmhou: Still am
tomthetrader: Remember these are all MAR contracts
tomthetrader: Yes Frank it was a NEW type position and we got stopped out and never reentered as it became the #1 performer over the next 6 months !
tomthetrader: #1
(3:03 PM) ctmhou: Got stopped out at 37.39, went down to the 5o SMA at 37.09 and never looked back. Tom got right back on, but I was still cleaning the dust off my chaps.
tomthetrader: I like the futures on NG too
tomthetrader: very creative contract action
tomthetrader: another widowmaker like TF
(3:06 PM) Nick_H_SanDiego: The bears are controlling YM now
(3:06 PM) Nick_H_SanDiego: Huge red candle on 15 min chart
(3:06 PM) Nick_H_SanDiego: almost retraced entire green bar
tomthetrader: A/D line much more important
(3:07 PM) TraderTim: A/D 1060
(3:07 PM) Nick_H_SanDiego: ouch
(3:07 PM) Nick_H_SanDiego: just beaten
(3:07 PM) Nick_H_SanDiego: taken to the woodshet
(3:07 PM) Nick_H_SanDiego: way oversold on Woodies
tomthetrader: 52 minute3s
(3:10 PM) ctmhou: A/D is 2048-958
(3:10 PM) Nick_H_SanDiego: Right so YM should be rising
(3:19 PM) Nick_H_SanDiego: Tom you're almost b/e
(3:19 PM) Nick_H_SanDiego: nice
tomthetrader: got BE
tomthetrader: 2300 -800 ad
(3:21 PM) TraderTim: A/D 1400
tomthetrader: 8315 again !
tomthetrader: stop now 8310
tomthetrader: 8315
tomthetrader: stop YM
tomthetrader: sell 8400
tomthetrader: stop top
tomthetrader: 8340 stopped
(3:25 PM) ctmhou: A/D is 2334-691
tomthetrader: 8315 -8340
tomthetrader: out of YM
tomthetrader: Now holding just 2 ES from 832
(3:27 PM) ctmhou: Is that your total holdings in ES? Did you sell or get your avg price down that low?
tomthetrader: stop 838 ES
(3:27 PM) thomas_Poland: I hope I can cover on 850
tomthetrader: 839
(3:29 PM) ctmhou: Here's tha 842.25 line
tomthetrader: 840.00 stop
tomthetrader: 841.00 stop
tomthetrader: 842 stop
tomthetrader: stopped out
tomthetrader: 842 from 832
tomthetrader: 2 contracts 1K
(3:33 PM) Fulkdaddy: great trade, Tom
tomthetrader: Thank you
(3:33 PM) ctmhou: That was a good one and I didn't take it because it looked overbought. When am I going to learn?
(3:34 PM) TraderTim: thx tom
(3:34 PM) thomas_Poland: I want 850
(3:34 PM) thomas_Poland: or more
(3:37 PM) thomas_Poland: 4 pm high of the day?
tomthetrader: Trend day ?
(3:37 PM) thomas_Poland: we made perfect doble bottom in ES and now perfect double top
(3:38 PM) ctmhou: A/D is 2346-682
(3:38 PM) thomas_Poland: tom how this can be trend day?
(3:38 PM) allfa_1: hello to all
(3:38 PM) thomas_Poland: I wish I made more but I was better than yesterday
tomthetrader: because I called a counter trend day ..not a official trend day
(3:38 PM) thomas_Poland: I said in the morning for swing up down up down
(3:38 PM) thomas_Poland: we had 3 for now and let it stay that way
tomthetrader: I called for 325 up
(3:38 PM) ctmhou: There Thomas.........
(3:39 PM) thomas_Poland: or maybe now last swing down?
(3:39 PM) thomas_Poland: I waant HOD at 4 pm
tomthetrader: we are 100% cash
(3:40 PM) ctmhou: This 5 min candle isn't good. Dark cloud.
(3:40 PM) thomas_Poland: perfect rectangle today?
(3:40 PM) thomas_Poland: I hate it
(3:40 PM) thomas_Poland: I hoped for 200 sma test
(3:41 PM) ctmhou: Tom, I wasn't around, but what did you do with the ES that you had bought yesterday?
tomthetrader: sold it
(3:41 PM) ctmhou: When?
tomthetrader: can you scroll back and look ?
(3:42 PM) ctmhou: yes i can
(3:42 PM) Nick_H_SanDiego: Tom got kicked off again
tomthetrader: Or I sent in e-mails
(3:42 PM) Nick_H_SanDiego: Did you exit your 6 YM at the 8407 when it was up there?
tomthetrader: no at BE
tomthetrader: 8315
tomthetrader: no gain
(3:43 PM) Nick_H_SanDiego: hey b/e is good
(3:43 PM) Nick_H_SanDiego: that's a win
tomthetrader: yes
(3:43 PM) TraderTim: yes it is
(3:43 PM) Nick_H_SanDiego: I finally caught a nice $400 run on YM
(3:43 PM) ctmhou: Tom, I think that you got out at 846.50.
(3:43 PM) Nick_H_SanDiego: Finally
(3:43 PM) Nick_H_SanDiego: I was losing my mojo
tomthetrader: big gainstoday was the 20 ES points and the Q's calls and the Main fund TNA
tomthetrader: got 12K unrealized
(3:44 PM) TraderTim: TNA is a star!!!
tomthetrader: yes
(3:44 PM) ctmhou: What do you think that I should do with my remaining ES from 862?
tomthetrader: very lucky to get that unch this morning on the selloff
tomthetrader: Hold Craig and buy another here ?
tomthetrader: last thing you want right !
(3:45 PM) ctmhou: Serious? Why?
tomthetrader: make a bunch btc
(3:46 PM) TraderTim: still 14 minutes
tomthetrader: 838.50 long 2 ES
tomthetrader: 432.00 Long TF 2
tomthetrader: stop 835 stop 430.00
(3:47 PM) ctmhou: Now I have to leave ti take the wife to the Dr's for a check up. I'll hold to the one I have and hope tomorrow continues up. I do the chart work tonight to see. Thanks for the help. Trading futures as much as you do is an all day affair. Still learning. Costly, but still learning.
tomthetrader: Good Luck ..give our best to your family Craig
(3:48 PM) thomas_Poland: ok I am out and done for today
(3:48 PM) thomas_Poland: so so day
(3:48 PM) ctmhou: Thanks, I will.
(3:48 PM) thomas_Poland: tomorrow is another one
(3:48 PM) ctmhou: Profound!
tomthetrader: Great job Thomas
(3:48 PM) thomas_Poland: I got what I wished for .. 4th swing
tomthetrader: stopped ES
(3:48 PM) thomas_Poland: tomorrow afternoon .. rally
(3:48 PM) thomas_Poland: strong
(3:48 PM) thomas_Poland: that is the plan
(3:49 PM) thomas_Poland: The high of the week should be made on Fridays open or so
(3:49 PM) thomas_Poland: if we go below yesterdays low I will change my mind
(3:50 PM) thomas_Poland: but don't think so
tomthetrader: very good week ...you guys realize we are UP strong 6-7 days ?
tomthetrader: when was the last time you saw that ?
(3:51 PM) thomas_Poland: that is why I will short low below yesterdays low
(3:51 PM) thomas_Poland: short below Monday lows
(3:51 PM) thomas_Poland:
tomthetrader: 2 TF contracts long into tomorrow or 5% long 95% cash TF from 432.00
(3:57 PM) thomas_Poland: sh ... and I got out
tomthetrader: too soon
(3:57 PM) thomas_Poland: market will make this HOD at 4 pm
tomthetrader: HOD on Close
(3:57 PM) thomas_Poland: yeah
tomthetrader: TF
tomthetrader: ask Tim the Trader
(3:57 PM) thomas_Poland: forget it .. tomorrow will be better
(3:58 PM) TraderTim: TF all the way!!!!
(3:58 PM) bloomert: Wow!, left at 3:15pm, just got back
(3:58 PM) bloomert: Excellent lesson on trading the A/D line Tom!
(3:58 PM) thomas_Poland: and there is test of 200 sma
(3:58 PM) bloomert: Yes, still long
(3:59 PM) bloomert: DDM
(4:00 PM) Nick_H_SanDiego: nice
(4:00 PM) Nick_H_SanDiego: still up momentum in the futures
(4:00 PM) Nick_H_SanDiego: damn
(4:01 PM) ajayvee: agreed!
(4:01 PM) bloomert: YES YES!
(4:01 PM) ajayvee: music
(4:01 PM) TraderTim: well done Tommy!!! music
(4:01 PM) Frank_TTT: good job today ttt
(4:01 PM) TraderTim: yeh just cause of cold
(4:01 PM) ajayvee: yeah too nasal-y
(4:02 PM) Nick_H_SanDiego: What was the link to the video from yesterday? Tony?
tomthetrader: YES
tomthetrader: stop TF 435
tomthetrader: overnight
tomthetrader: 442RUT
tomthetrader: very good job of trading
tomthetrader: we are getting this down ..we make money when Be and Hank are not around
tomthetrader: 6-7 up
(4:05 PM) TraderTim: A/D 1662 at end of day
tomthetrader: Bulls stealing the show ?
tomthetrader: Thanks Tim
(4:05 PM) TraderTim: no thx you tom
tomthetrader: Embarass us and tell us your realized gains today Timmy ?
(4:06 PM) TraderTim: never kiss and tell
tomthetrader: Right
tomthetrader: I will show you mine !
(4:06 PM) TraderTim: hey
tomthetrader: Thomas likes to show his !
tomthetrader: This A/d line and MACD and attack on MA's ?
tomthetrader: any technicians out there ?
tomthetrader: 8185 was a good buy on YM
tomthetrader: 8242 also 8315
tomthetrader: a hold of all contracts would have been Great but I am not complaining
tomthetrader: those QAVAZ !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
(4:17 PM) JR Roden: TTT - thanks for pointing out the importance of the A/D #'s at 3:00pm today. I took a couple long calls and make a little over $400 in the last hour.
tomthetrader: great
tomthetrader: that is what we want hear
tomthetrader: just keep on working hard
tomthetrader: and that will100x
(4:19 PM) JR Roden: I look forward to those days.
tomthetrader: hedgehog this market
tomthetrader: and we will accumulate great wealth
tomthetrader: look at our main fund
tomthetrader: that is how you keep profits
tomthetrader: over the years
tomthetrader: even in 50 per cent down bears
tomthetrader: i am bullish
tomthetrader: some stocks selling below cash levels
(4:21 PM) Nick_H_SanDiego: Tom what do you use for your fundamental screens?
tomthetrader: all real estate equipment and sales free
tomthetrader: for shareholders
tomthetrader: basic earnings and charts fundamentals historical stuff
tomthetrader: like to see earnings no surprises 4 quarters out
tomthetrader: some insider buying
tomthetrader: some short interest
(4:31 PM) Nick_H_SanDiego: You do this with FinViz screener, or manually in the newspaper?
tomthetrader: GILD is a possible double as well as FCX
tomthetrader: I have the sofware we developed at LM
(4:32 PM) Nick_H_SanDiego: Ah...
tomthetrader: Main Fund looks good
tomthetrader: telecomsstarted a bull run even before I mbought T and VZ
tomthetrader: T VZ
tomthetrader: telecoms started this run
tomthetrader: nice charts ?
tomthetrader: Bullish
tomthetrader: hard to find charts like those
tomthetrader: fewand far between
tomthetrader: but you have to search
tomthetrader: and look at history / valuations ...who leads
tomthetrader: as sector rotation will occur

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