Wednesday, February 11, 2009


(9:26 AM) Fulkdaddy: Great, great man
(9:26 AM) Fulkdaddy: Lucky to call him friend
(9:27 AM) TraderTim: We are WING MEN of each other
(9:27 AM) Fulkdaddy: All here to support Coach Tom
(9:28 AM) Fulkdaddy: I feel like I am in little league and getting hitting instruction from a major leaguer
tomthetrader: Thank you !
(9:31 AM) JR Roden: TTT - Thanks for the kind words re: my trade yesterday. It was nice to have that one work out so well. As long as we stayed below the 13 EMA on the 5 min chart, I was staying short.
tomthetrader: DDM 2000 long
tomthetrader: or DIA calls
tomthetrader: Or YM 7920 10 long
tomthetrader: Auctions today
tomthetrader: Aruj ?
tomthetrader: Good news bad news ?
(9:36 AM) aszager: take care I will be back regular on Monday
(9:37 AM) TraderTim: see ya zags good job this week. enjoy mickey
(9:38 AM) Fulkdaddy: Have a great trip, Zags!
tomthetrader: Zags enjoy ..I am all packed ?
(9:39 AM) Fulkdaddy: Applied Materials and RIMM are not helping...bad earnings guidance
tomthetrader: I am the one sitting on the porch !
(9:39 AM) JR Roden: Have a great trip Zags
(9:39 AM) Fulkdaddy: Tom, is this just going to be a quick oversold bounce? Long BGU from yesterday's close
tomthetrader: I think it can last into Friday Dave but if it doesn't hold thru 11:00AM i AM GONE !
(9:41 AM) Fulkdaddy: Junk held up extremely well yesterday
(9:42 AM) Fulkdaddy: good plan, Coach Tom
tomthetrader: A/D NEEDS TO STAY +
(9:43 AM) TraderTim: A/D: +1228
(9:43 AM) TraderTim: Trin: .63
(9:44 AM) Fulkdaddy: VIX did not move down much in the rally that ended on Monday
(9:45 AM) Fulkdaddy: Put/call was bearish
(9:45 AM) Fulkdaddy: What indicators were the best at indicating yesterday was possible?
(9:46 AM) TraderTim: Overbought was building and up against resistence so was susceptable to anything but really good news
(9:46 AM) redliontrader: sp500 ad line showing leadership
tomthetrader: UYG
tomthetrader: is helping EVERYONE ?
tomthetrader: I think this is the most widely owned vehicle we have had in 4 years
(9:47 AM) TTTMichael: Sold UYG and SSO
tomthetrader: the last time was either EMC or XLK
tomthetrader: How did you do michael ?
tomthetrader: Michael?
tomthetrader: good gains ?
(9:49 AM) TTTMichael: Long from yesterday's close, profit on both
tomthetrader: 70% long IRA 70% Long Main 2:1 leveraged long Traders
tomthetrader: Good
tomthetrader: long 1 hour and 10 minutes
(9:50 AM) TTTMichael: S&P approaching daily pivot 837.50
(9:51 AM) TraderTim: A/D: +1417
(9:51 AM) TraderTim: Trin: .49
tomthetrader: keep them coming as I am taking profits to get down in leverage sold 100 DIA FEB calls
tomthetrader: Keeping the DDM and 10YM
tomthetrader: 'still over 100% Long 200K
tomthetrader: 15 SPX points from TTT Buy signal is a success with lower price
(9:56 AM) TraderTim: A/D: +1481 holding
(9:56 AM) TraderTim: A/D: .55
(9:56 AM) TraderTim: sorry TRIN: .55
(9:56 AM) Bert_TTT: Thanks Tim for holding the AD
(9:56 AM) TraderTim: no prob Bert
(9:58 AM) berniectx: took two trades so far in ES one long one short doing OK for now
tomthetrader: Great
tomthetrader: Just protect your gains
(10:00 AM) TTTMichael: Never let a gain become a loss!!!!
(10:00 AM) JR Roden: I've done that more times than I can count
(10:01 AM) TraderTim: Tom, sometimes I just leave my MAIN and throw on a big HEDGE to get me market neutral. Any thoughts on doing that vesus selling?
(10:05 AM) TTTMichael: Huge dividend in MO
(10:05 AM) JR Roden: Volume very low on this pullback
(10:07 AM) TraderTim: A/D: +1096
(10:07 AM) TraderTim: Trin: .63
(10:07 AM) berniectx: I'm out made lunch money want to re enter
tomthetrader: you will get a chance to reenter ES
tomthetrader: very soon
tomthetrader: Just watch Timmy's A/D line and TRIN
tomthetrader: TICK
(10:09 AM) TraderTim: A/D: +989
(10:09 AM) TraderTim: Trin: .61
(10:09 AM) TraderTim: Tick: -187
tomthetrader: and I will let you know the options action and the sentiment and underbelly trading from the pits
(10:09 AM) bocarat-1: Tom still long YM and DDM?
tomthetrader: YES
(10:09 AM) bocarat-1: ty
tomthetrader: I will be long YM DDM until we go -
tomthetrader: on A/D or get stopped at 7880 cash DJIA
(10:12 AM) redliontrader: anybody with tradestaion, can you tell me what your reading for $add is
(10:12 AM) TraderTim: P/C: CBOE All .79
(10:12 AM) ajayvee: -1884 red
(10:12 AM) TraderTim: A/D: +1022
tomthetrader: good
tomthetrader: these all help
(10:13 AM) redliontrader: ajay, thats not right is it?
(10:13 AM) ajayvee: esignal +1015 Tradestation -1875 I think TS is wrong
(10:14 AM) TraderTim: THOMAS has great information
(10:14 AM) TraderTim: He is a great team mate!!!
(10:14 AM) DE_TTT: also he is International Man of Mystery
tomthetrader: Yes , alotta vagina ?
tomthetrader: Thomas ?
(10:15 AM) JR Roden: I don't like the pick up in down volume on the past couple 5 min bars
tomthetrader: agree
(10:16 AM) TraderTim: A/D: +761
(10:17 AM) TraderTim: TRIN: .61
(10:17 AM) PhotosbyDill: I have 476 Adv 2393 Dec NYSE
(10:17 AM) PhotosbyDill: 40 Unchanged
tomthetrader: MS up 5%
(10:18 AM) Alert: Get updates FIRST on Paltalk programming by adding PALTALK to your Twitter list!
(10:18 AM) TraderTim: a: 1813 D: 986 U: 121 Total: 2914
(10:18 AM) PhotosbyDill: what I have $ADV 479 $DECL 2406 on TS
(10:19 AM) PhotosbyDill: Mine keeps changing??
(10:19 AM) redliontrader: Gary, tradestation is seriously broken
(10:19 AM) TraderTim: See above A=adv D=decline U=unchanged
(10:19 AM) PhotosbyDill: Yes
(10:19 AM) redliontrader: all a/d wrongs
(10:19 AM) PhotosbyDill: Anyone on TS have $ADV $DECL
(10:20 AM) TraderTim: Adv: 1756 Dec: 1071 Unch: 100 Total: 2919
(10:20 AM) TraderTim: A/D: +631
(10:20 AM) TraderTim: Trin: .62
(10:20 AM) PhotosbyDill: Thanks
(10:20 AM) redliontrader: tradestation show -1940
(10:20 AM) PhotosbyDill: That is what I have
(10:20 AM) redliontrader: weird, because up/down volume is wrong too
tomthetrader: -32 trans
(10:21 AM) TraderTim: A/D: +686
(10:21 AM) TraderTim: so holding above +500
tomthetrader: 125 Tick 17-10 a/d +
tomthetrader: BKX up 4%
tomthetrader: UWM
tomthetrader: will add to the main fund
(10:25 AM) TraderTim: A/D: +803
(10:25 AM) TraderTim: Trin: .65
(10:26 AM) TraderTim: Tick: bouncing +/-500 so neutral
tomthetrader: anyone fill on UWM ?
tomthetrader: price ....?
(10:26 AM) rekon8: 16
tomthetrader: just want to be accurate on my fills
(10:27 AM) rekon8: a little early 500@ ask
(10:27 AM) TraderTim: A/D: +624
(10:27 AM) TraderTim: Trin: .66
(10:27 AM) TraderTim: Trin: -600's
(10:28 AM) TraderTim: A/D: +542
(10:28 AM) TraderTim: Trin: .68
(10:29 AM) TraderTim: A/D: +526
(10:30 AM) TraderTim: A/D: +410
(10:30 AM) TraderTim: Trin: .68
(10:30 AM) JR Roden: This hurts
tomthetrader: yes ...scared ? we should be if the market is working correctly
tomthetrader: we should feel like selling and getting short
tomthetrader: that is what the market wantshere
tomthetrader: a/d line + and all "underbelly" indicators OK
(10:31 AM) TraderTim: A/D: +371
tomthetrader: but now we need a rally
(10:31 AM) TraderTim: TRIN: .69
(10:32 AM) TraderTim: Tick: -600's
tomthetrader: totally filled the gap
tomthetrader: Banks still strong
tomthetrader: - YM
(10:32 AM) Fulkdaddy: DZZ is killing me!
tomthetrader: Gold is blowing off
tomthetrader: panic individuals
(10:33 AM) TraderTim: Investors running to alternative currency (GOLD) and safety (BONDS)
tomthetrader: yes
(10:33 AM) TraderTim: A/D: +250
(10:33 AM) TraderTim: TRIN: .68
tomthetrader: still OK
(10:33 AM) TraderTim: TICK: Neutral +/- 500
tomthetrader: still stay the course LONG or reenter
tomthetrader: 445 TF RUT long 4
tomthetrader: .if we go - before 11:00am on a/d or 825.00 by 11:00am I am in cash
tomthetrader: *25.00 break I am in cash ....again
tomthetrader: 825.00 is our Bail area
(10:36 AM) TraderTim: A/D: +323
(10:37 AM) TraderTim: FULK: Is KASS holding his SPY?
(10:37 AM) TraderTim: TODDO: Is buying the pullback
(10:38 AM) TraderTim: TODDO: buying starter postions in BAC and RIMM (into the red mess)
(10:42 AM) Fulkdaddy: Kass is holding adn buying Title Insurance longs: FNF, STC and FAF...starting small as he thinks gov't programss will get a refi boom started
(10:42 AM) Fulkdaddy: Likes S's over N's
(10:42 AM) TraderTim: Banks saying they WILL RETURN money and give taxpayers good return on investment
tomthetrader: just what I wanted them to say
(10:43 AM) Fulkdaddy: The securites the gov't bought from Bear Stearns have lost 10% since the gov't purchase
(10:44 AM) TraderTim: Yeh, they govt needs TTT to help them with the buy prices
(10:45 AM) TraderTim: A/D: +668
(10:45 AM) arujunaa: fixed income update: bonds continue to rally as the shorts are getting squeezed. 10s at 2.76%. 10yr auction today and 30s tomorrow. watch tyh levels at 123.875 & 124.375. strong resistance. i am looking to add to longs at 122.50ish to get fully long (currently 123.75).
(10:45 AM) Fulkdaddy: FXI here?
tomthetrader: Possible if you are really Bullish
tomthetrader: FXI will lead
(10:45 AM) Fulkdaddy: Thanks, Aruj...extremely valuable info
tomthetrader: Thanks Aruj
tomthetrader: Just to put it in stock terms you still expect rates to DROP
(10:46 AM) TraderTim: thanks aruj
(10:46 AM) TraderTim: rates down bonds up
tomthetrader: 10 year back to 2.50 min ?
(10:48 AM) TraderTim: A/D: +690 TRIN: .63 Tick: +500ish
(10:49 AM) TraderTim: so internals are now trending up
(10:49 AM) TraderTim: supporting PRICE
(10:49 AM) TraderTim: A/D: +865
(10:51 AM) TraderTim: this congressional testimony by banks is very educational
(10:52 AM) redliontrader: tradestation just fixed there data
(10:52 AM) TraderTim: A/D: +924
tomthetrader: Nice trading Tim !
(10:53 AM) TraderTim: thk coach
tomthetrader: No , Thank you !
(10:53 AM) TTTMichael: Back after losing connection to PalTalk.
(10:56 AM) TraderTim: Banks say they ARE NOT USING any TARP funds for compensation. This is disingenuous. Money is money and all goes into ONE BUCKET.
(10:57 AM) TraderTim: A/D: +948
(10:57 AM) TraderTim: TRIN: .57
(10:58 AM) TraderTim: Tick: trending UP but in neutral territory
tomthetrader: OK
tomthetrader: Underbelly OK
tomthetrader: ESP banks
tomthetrader: 2-1 A/d line
tomthetrader: Our problem TECH our savior banks BKX skyrocket
tomthetrader: UYG 3.00 BUY is being a millionaire maker
(11:02 AM) TraderTim: at some point we need another sector beyond banking to take leadership?
(11:03 AM) TraderTim: UYG: 3.16
tomthetrader: We have 70% plus of our members in at 3.00
tomthetrader: I could not be happier
(11:03 AM) Fulkdaddy: Helene said again today, banks are key....and she has been dead right on this one
(11:04 AM) arujunaa: helene is bullish on bonds!
(11:04 AM) redliontrader: y
(11:05 AM) Fulkdaddy: Yes...I love it when Aruj and Helene are on the same page...long TLT from 102!!!!
(11:05 AM) arujunaa: nice!
(11:05 AM) TraderTim: wow, what a buy ARUJ HELENE. Go LONG BONDS.
(11:05 AM) TTTMichael: Do you think that with option expiration next week that there will be more opportunities to add to UYG??
(11:06 AM) TraderTim: Bonds are showing up at top of risk adjusted rankings
tomthetrader: UYG ...I think we can buy UYG several times from 2.75 -3.25 and sell at 9-11
(11:07 AM) TTTMichael: yes
tomthetrader: so
(11:07 AM) Alert: Get the latest in Paltalk programming updates by subscribing to the Paltalk Twitter feed
(11:08 AM) TraderTim: A/D: +802
tomthetrader: tomthetrader: 445 TF RUT long 4 earlier sold 4 $1200 profit
(11:09 AM) ctmhou: Not bad, Tom.
(11:10 AM) ctmhou: I would like to dothat once a week.
tomthetrader: I love this market
(11:13 AM) TraderTim: A/D: +936 TRIN: .59 TICK: +769
(11:14 AM) JR Roden: Q's trying to bust up through the 13 EMA - which held us down all day yesterday.
(11:15 AM) TraderTim: A/D: +1072 trending up now and made higher low (not higher high yet)
tomthetrader: Yes ...needs to break thru even with horrible news
(11:15 AM) JR Roden: Harp all you want ... we'll listen
(11:16 AM) berniectx: Please keep harping coach agree with JR we listen to you
(11:16 AM) jbljudy: Yes
(11:17 AM) PhotosbyDill: Already took mine on UYG Thank You Tom
(11:18 AM) redliontrader: yes, you can buy mine!
(11:18 AM) redliontrader: min are for march
(11:18 AM) redliontrader: mine
(11:18 AM) redliontrader: uuf cc .75
(11:18 AM) redliontrader: anyone?
(11:19 AM) TraderTim: bumping up against opening range HOD
(11:19 AM) TraderTim: A/D: +1105
(11:21 AM) TraderTim: A/D: +1029
(11:23 AM) TTTMichael: Look at high yield PHK
tomthetrader: OK
tomthetrader: I will add to watchlist
(11:24 AM) TTTMichael: Just keeps climbing it's 8 ema
(11:24 AM) ctmhou: That's semms to be a highly discussed ETF in other rooms. PHK
tomthetrader: Got it on our watchlist now
(11:25 AM) TraderTim: TTTMichael: 8 ema of what timeframe? 5min daily
(11:25 AM) TTTMichael: I wouldn't know - perhaps because it pays such a high dividend. I own it plus HIX, FAX, and LQD.
(11:25 AM) ctmhou: I use 8 EMA on daily.
tomthetrader: User name :
(11:25 AM) TraderTim: Gartman owns a lot of FAX
(11:25 AM) TTTMichael: Daily 8 ema.
tomthetrader: Pass : tomandprisha
tomthetrader: tomthetrader:
tomthetrader: If you are not a member please be professional and go through the blog
tomthetrader: Thank you
(11:28 AM) tomthetrader: tomthetrader has bounced RobotTrader from the chat room
(11:28 AM) ctmhou: Wasn't he here yesterday?
(11:31 AM) TraderTim: A/D: 1180
(11:31 AM) TraderTim: Trini: .58
(11:31 AM) berniectx: Honesty is the best policy and TTT Tom is full of character and honesty
(11:31 AM) ctmhou: Tom, I don't know that this has been said, but thanks for the Finviz protfolio updates. It helps to see it real time.
(11:31 AM) TraderTim: we just broke opening range HOD
(11:32 AM) Alert: The too-close-to-call election in Israel and its effects on the peace process will be the topic of today's News Talk Online LATER TODAY at 5 PM New York time in Paltalk Studio A in the Radio/TV Section
(11:34 AM) ctmhou: SSNY really did that,huh?
tomthetrader: yes
tomthetrader: stole everything
tomthetrader: sold DDM
(11:34 AM) ctmhou: What a pri**
(11:35 AM) TraderTim: A/D: +988 TRIN: .66
tomthetrader: now we are back to 10 YM long from 7920
(11:35 AM) TraderTim: quick stealing Tom Congress is watching
tomthetrader: 25% long Traders now
tomthetrader: looking to reenter
(11:37 AM) TraderTim: Tom, just so you know what I did today, I bought on the pullback this morning in ES/YM/NQ/based on MEAN REVERSION bounce probability.
(11:38 AM) TraderTim: I then used MARKET INTERNALS to keep me in trade until we broke HOD and I sold all and am waitng for re-entry on pullback.
(11:38 AM) TraderTim: A/D: +1008
(11:38 AM) TraderTim: Thanks for keeping us in the trade as the tough spot was the first fade lower and it almost knocked me out
(11:39 AM) Fulkdaddy: good trade, Tim...I covered my long
(11:39 AM) Fulkdaddy: missed upside
(11:39 AM) TraderTim: This is one of the values of the ROOM. I still fight FEAR to hold the positions long enough for the probability trade to work. Your COACHING is enormously valuable and critical.
(11:40 AM) TraderTim: FULK: I don't always do it this well so you know. I am still working on the FEAR when pullbacks happen. THx for sharing.
(11:41 AM) TraderTim: TOm really is helping to create the ability to BUY the pullbacks (assuming a good low risk setup) in spite of FEAR.
(11:41 AM) TraderTim: I am putting this out for new members as one example of how the room is used. Just an FYI (and not bragging since I fail more often than succeed with my emotions )
(11:42 AM) TraderTim: Ok back to trading: A/D: +923 Trin: .66 TICK: still neutral
(11:43 AM) redliontrader: thanks for sharing tim
(11:44 AM) TraderTim: ty RED
tomthetrader: Thanks as again every member I think has a different use for this room and service ...the main thing is it sets well with your investing ...we do not want lossesbut know we have to take risk to get return and if we can use smaller positions to build Large positions and get good set ups ...we can really build a Large wealth machine
tomthetrader: Retiremnet is going to be tough even for millionaires ! if you plan on living to 100-120 is and will be normal
(11:46 AM) jbljudy: Thanks Tim!
(11:47 AM) TraderTim: ym Judy
(11:48 AM) TraderTim: Tom, this point in the pullback is where I struggle. Help us determine the re-entry or not?
tomthetrader: I would not reenter
(11:49 AM) TraderTim: I concur. What are you seeing?
tomthetrader: I would gauge the BKX and A?D...and "underbelly ans the most we should get is 120-150 Dow up and thatshould be mostly in last hou4r
(11:49 AM) TraderTim: A/D: +848
(11:49 AM) TraderTim: gotcha. So wait for pullbacks in afternoon
tomthetrader: yes or if we start to run do the 90's momo jump on with a 1 point stop
(11:58 AM) ctmhou: That was a fun time.
(12:00 PM) ctmhou: JR is a valuable member.
tomthetrader: JR excellent
(12:01 PM) ctmhou: What happened to Thomas?
tomthetrader: Thomas ...need him back full time
tomthetrader: he peaked in yesterday
(12:01 PM) ctmhou: He start his own TTT hedgefund?
tomthetrader: made me happy ...I gave him a buy signal and he made 250K /
(12:01 PM) ctmhou: Serious?
tomthetrader: Yes ...he is trying to make me sad /
tomthetrader: hopefully he will come out with a recommendation ?
(12:02 PM) ctmhou: I see him logged in.
tomthetrader: or tell us if he still loves us ?
(12:02 PM) ctmhou: He's got a new girlfriend?
tomthetrader: Nope , just a lot of services to follow and mine dropped off his list I think ....he is a good man ...good person ...superior mind
(12:04 PM) ctmhou: That could be true. He needs to have small children that need constant attention. That will change his trading habits.
(12:05 PM) JR Roden: Craig - thanks for the kind words. It sure makes it easier to learn this business when we put all of our brains together.
tomthetrader: agree
(12:05 PM) ctmhou: True. And you're welcome.
tomthetrader: Homebuilders are starting to look interesting for a watchlist
tomthetrader: Beazer at 1.00 is a great spec
(12:07 PM) PhotosbyDill: avb
tomthetrader: AVB
tomthetrader: ?
tomthetrader: name
(12:07 PM) PhotosbyDill: Avalon Bay Communities
(12:08 PM) PhotosbyDill: 7% Yield
(12:09 PM) TraderTim: Bert: GM just announced retirees under 65 who are on medicare won't get health benefits anymore? Is that for salaried only? Do union workers get health from GM after 65?
tomthetrader: AVB we played back in the Fall is a good one ...interesting
tomthetrader: BPT also on the oil side 20% yield ?
(12:14 PM) berniectx: hate to be a whiner but listening to members of Congress yesterday and today makes me angry...I believe they and their actions are a big part of the mess we are in today with the economy
(12:18 PM) JR Roden: We broke the uptrend line we had going on 5 min Q chart today around 11:45 today, then went back up to test it and then rolled over. Holding 30.10 on the Q's will be important.
(12:19 PM) TraderTim: I turned my head and WHAM. A/D: +634 Trin: .73 trending up which is bearish
tomthetrader: Agree Bern
tomthetrader: I think that Congress was blind to the $$$$$$ problems as they were getting it too
tomthetrader: Bankers are at fault for leveraging up on securities they did not know but congress has access to all of this and had to know
(12:28 PM) TraderTim: A/D: +680 Trin: .72 trending up (bearish)
(12:29 PM) jay brown05: anybody like bac or cit??
tomthetrader: and I am sure were getting a good bit of funding while things were "good"
(12:29 PM) TraderTim: SEC allowed banks to go from 14-1 leverage to 40-1. SEC made a huge mistake to give that kind of gun to these guys with compensation plans that rewards high risk wins and give the losses to the firms
tomthetrader: SEC do not get me going
(12:30 PM) TraderTim: sorry they get my blood boling as do these hearings
tomthetrader: I used to think the IRS was inept until I started tracking the SEC the past 2 years
tomthetrader: Reces for the kids
tomthetrader: recess
(12:31 PM) ctmhou: Isn't Geithner head of the IRS?
tomthetrader: til 1:15pm
tomthetrader: Now he is
(12:32 PM) ctmhou: That should tell us something.
tomthetrader: just like most of us ..just forgot to pay for a few years of taxes /
(12:32 PM) ctmhou: Get caught, and move to the head of the class.
tomthetrader: if you or i got caught ?
tomthetrader: where would we be /
tomthetrader: Not here right now
(12:33 PM) ctmhou: If you or I forget, off to prison.
(12:33 PM) frankie_01: i agree but i think alot of blame to go around for this economic mess
tomthetrader: 7925 is a NOW VERY KEY level as we have moved our stops up in 10 YM to CASH 7910
(12:34 PM) ctmhou: Dacshle didn't even pay a penalty. Just interest.
tomthetrader: Frankie : you are 100% right
tomthetrader: usas consumers got too much for nothing
(12:34 PM) frankie_01: yes the previous few chairmans of the SEC it seems just to closely aligned with wall street, eh
(12:34 PM) ctmhou: I'll say.
tomthetrader: we abused thesystem ..not you and I but the overall public wanted too much home for too little $$$$$$$$$$
tomthetrader: I just want the uptick rule reinstated
(12:35 PM) ctmhou: Again, when I bought my home in 1987, they wanted collateral before I bought.
tomthetrader: SEC Shapiro can do that in a press conference today
(12:36 PM) TraderTim: no one complained while homes were going up and 401K's rose. This is a education issue on "wealth" and needs to be taught in public schools
tomthetrader: 20% is what I have put down on all the homes I have owned except the last one
(12:36 PM) ctmhou: ABSOLUTELY, Tim. I have said that for ten years.
(12:36 PM) TraderTim: I would love if my little boy would get a class called RISK 101 at some point in his schooling . . . if not, I will bring him on to TTT chat and we will teach him
tomthetrader: Teachers will credit card limits at 60K are not the best to teach our kids ?
tomthetrader: I think parenting is back BIG BIG BIG
(12:37 PM) ctmhou: Kids know how to work every electronic gadget there is, but can't balance a checkbook.
(12:37 PM) TraderTim: yep, it is OUR job to "unteach"
tomthetrader: whites blacks yellow purples ....we need more parents !
(12:37 PM) TraderTim: financial literacy . . . now that is a bold audacious goal
tomthetrader: Media has our kids programmed for failure we do have to undo or turn off the tube and internet /
tomthetrader: Books are good
tomthetrader: Knowledge is good
tomthetrader: Talking is good
tomthetrader: debate is good
(12:39 PM) TraderTim: A/D: +685 TRIN: .74 Any re-entry thoughts?
tomthetrader: You guysare all wrong ...especially thomas ...!
(12:39 PM) ctmhou: My kids are watching Handy Manny or poking each other in the eye.
(12:39 PM) TraderTim: We are at the bottom of the opening range
(12:39 PM) JR Roden: People are really too afraid to debate anymore ... worried about hurting other people's feelings
(12:39 PM) ctmhou: They need to meet my mother.
tomthetrader: 7925 Cash is the key ..we may reenter soon
(12:40 PM) ctmhou: She will step on their feelings.
tomthetrader: you are free to reenter unless you ant to wait for me
tomthetrader: but it should be safe to reenter long
(12:40 PM) ctmhou: I bought 828.75 ES a few minutes ago.
tomthetrader: banks have held up a/d up
(12:40 PM) JR Roden: Q's made an interesting move down to 30.10 (which I suggested needed to hold) and then took off 17 cents up from there on nice volume. Good sign.
(12:40 PM) ctmhou: 835.25 is my target
tomthetrader: Craig are the man
tomthetrader: I got it at 835.00 !!!
(12:41 PM) ctmhou: 1 contract
tomthetrader: 2
tomthetrader: anything you can do
(12:41 PM) ctmhou: Little balls. Plus kids are running around driving me nuts.
tomthetrader: I have to start treating you like Thomassince he won't play !
tomthetrader: 7910 YM futures
tomthetrader: now
(12:42 PM) ctmhou: I have a stop at 825.75
tomthetrader: I am out at cash 35
tomthetrader: 835.00 quick profit Craig
(12:43 PM) ctmhou: Moved my limit stop to 835.
tomthetrader: Beautiful trade craig !
(12:44 PM) ctmhou: I hope.
tomthetrader: YM stops up to Cash 7950
(12:44 PM) ctmhou: I just feel that there might be a little more push. I hope.
tomthetrader: yes
(12:46 PM) ctmhou: I am using an OCO bracket order that goes for 6.25 profit and 4 points on loss.
tomthetrader: stops manual up to 55
tomthetrader: 7955 cash
tomthetrader: stopped out
tomthetrader: sold 10YM here
(12:47 PM) ctmhou: With the 8 month old, I follow her around with my laptop. What a GEEK!
tomthetrader: will reenter ..just profit taking
tomthetrader: 350 YM points x 5
(12:48 PM) ctmhou: Great job, Tom. I swear, you can make money while taking a shower.
(12:49 PM) arujunaa: yes, he can make it rain......
tomthetrader: I have a good friend named eddie martinez Esteve ...from miami
(12:50 PM) ctmhou: Any relation to Gloria?
tomthetrader: He can fall out of bed in the morning and hit a double in baseaball
tomthetrader: eriously I have played with a lot of pure hitters ...he is the best
tomthetrader: to make baseball out of banking want guys on your t4eam who can perorm day in and out in any condition ....
tomthetrader: I think we are setting the stage for what could be a daytraders paradise in futures as VIX still high
(12:52 PM) ctmhou: Like a three run walk-off homerun?
tomthetrader: and the quant (mean reversion) players are using the same tells
tomthetrader: so it may be a good spell in here where we can buy 10-20 40 contracts
tomthetrader: Yes , did you like that video
(12:53 PM) ctmhou: EEEKS!
(12:53 PM) ctmhou: yes
(12:53 PM) ctmhou: Gave me chills.
tomthetrader: I watch it all the time and still cry like a baby !
(12:53 PM) ctmhou: I was proud for you, Tom.
tomthetrader: Thank you ....I think his baseball career is over ....which is sad ....but to do whathe has in his life is remarkable at his size w/o drugs
(12:55 PM) ctmhou: 8 month old is getting cranky and have to feed. Took profits on ES for $150.00.
tomthetrader: Great
(12:55 PM) ajayvee: atta boy!
tomthetrader: DIAPER MONEY
(12:56 PM) ctmhou: Exactly.
tomthetrader: 6 month supply !
tomthetrader: Pampers or huggies family /
(12:56 PM) ctmhou: Pampers
tomthetrader: inquiry minds need to know
tomthetrader: we were too
(12:56 PM) ctmhou: 3 month supply.
tomthetrader: what does it cost now ?
(12:57 PM) ctmhou: about $35 for 120 diapers
(12:57 PM) ctmhou: at 4-5 a day
(12:57 PM) ctmhou: Sometimes, I let her ruminate.
(12:58 PM) arujunaa: 10yr auction in 2 mins. expect a small tail (say 2bp). if we rally afterwards, i would expect selling in anticipation of tomorrow's 30yr auction.
tomthetrader: Thanks ...a good bid to cover necessary here /
tomthetrader: 30 year auction much more important Aruj ?
(1:00 PM) arujunaa: i don't think so. a 2bp tail would be viewed as a decent auction
tomthetrader: good
tomthetrader: 30Year much more important /
tomthetrader: I think we can reenter long again here
(1:01 PM) arujunaa: i wouldn't say important. but it is the one that people will be nervous about
tomthetrader: 831.50 SPX cash long viaES 4 contracts
tomthetrader: Thank you
(1:01 PM) TraderTim: A/D: +555
(1:01 PM) TraderTim: TRIN: .73
tomthetrader: 10% long with 4 contracts ...Conservative
tomthetrader: no stops for now until we get a profit or tomorrow 11:00am
(1:03 PM) arujunaa: 2bp tail bid/cover 2.21
(1:04 PM) TraderTim: A/D: +696
tomthetrader: Santelli rates a B- auction
tomthetrader: hurting a bit
tomthetrader: making too much out of it aruj ?
(1:10 PM) bogdan07: bought BGU 27.65
tomthetrader: Bad auction hurts stocks one piece i am reading now
tomthetrader: BOG hang in there ...should be a decent trade
(1:12 PM) arujunaa: it went as expected. now people will set up for 30s. in fact it was a very FAIR auction which means that bonds are acting rationally now. i see any weakness over next 24/48 hours as a good buying opp. btw, i hate santelli. he's an idiot
(1:14 PM) arujunaa: the pain trade will be to rally into tomorrow's auction. bonds probably trade a little more off of stocks for rest of today
(1:17 PM) ctmhou: Aruj, all CNBC people on TV now think that they are rock stars.
(1:34 PM) TraderTim: A/D: +295
(1:34 PM) TraderTim: Trin: .83 still trending up which is bearish
(1:36 PM) JR Roden: the Q's broke down through 30.10, which is not a good sign. Hopefully it can recover quickly.
tomthetrader: 7900 CASH long 4 YM '
tomthetrader: we will chase this cash long all the way til 4:10pm
tomthetrader: again we will hold 20% long into the 4:10 close
tomthetrader: this is the "weakest " time of the day we should ..SHOULD run back up in to the close ...if not we will keep our longs as a Core long position
tomthetrader: 7900 cash and 825ish on ES is vital to holding and rallying
tomthetrader: the interals are breaking down around us ...not good but we still have a shot at ending HOD
(1:42 PM) TraderTim: A/D: +159
(1:42 PM) TraderTim: Trin: .89
(1:42 PM) TraderTim: Tick: -600's
(1:45 PM) TraderTim: A/D: -19 Trin: .95 Tick: -600's
tomthetrader: typically the weakest part of the day
tomthetrader: 825.00 is at hand
(1:46 PM) JR Roden: q's are down 1+% and SPX only down .12%
tomthetrader: this is where the big money is made
tomthetrader: 444 RUT which is support and a BUY zone
(1:47 PM) ctmhou: Oh Boy! Got bought in at 823 ES. Let's see where we go now. Didn't really think that it wouldhet down there.
tomthetrader: It is a good buy I think craig
(1:48 PM) ctmhou: We'll see.
(1:48 PM) ctmhou: Have a tight stop. But it sure looks oversold at the moment.
tomthetrader: I think OIL and commodities and depression sneaking in here
tomthetrader: may need a washout ?
(1:49 PM) TraderTim: A/D: -218
tomthetrader: Still OK
tomthetrader: adding long at cash 824.00 4 units long ES via cash
tomthetrader: 30% Long traders
tomthetrader: 10% YM 20% ES 70% cash
tomthetrader: 824.00 ES now

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