[Nov 8, 2009 5:00:35 PM PST] InvestorsLive Hi All, hope you all had a good weekend
[Nov 8, 2009 5:00:40 PM PST] InvestorsLive Got a ton of questions this week so thank you
[Nov 8, 2009 5:00:56 PM PST] InvestorsLive same format, I will wait a few inbetween questions if you have any questions based on what I just asked
[Nov 8, 2009 5:01:04 PM PST] InvestorsLive if you have additional questions off topic feel free to PM
[Nov 8, 2009 5:01:30 PM PST] InvestorsLive QUESTION: Do you have your unrealized P&L up when you are in a trade? I feel that sometimes maybe I would have better exits if I just focused on the price action and the chart and not the P&L.
[Nov 8, 2009 5:01:51 PM PST] InvestorsLive Yes I do, always. I trade for income so if I grab a trade and I’m up $200-400+ in a matter of seconds/minutes I will ALWAYS take off at least 1/3 or 1/2 without even thinking about it. Why not? One thing that Muddy an I always talk about is “inching” or “inch mode” one thing that I do and WDAS Thursday is a perfect example I mentioned in the newsletter that I was curious why people were surprised that it pulled back so quickly off .73 cent high… and said I would discuss at the seminar. This is a perfect example of a stock going up inch by inch (penny by penny) and then starts moving .05-.10 within that same time frame. When this happens, I take my profits most if not all of them, I can always re buy back if I want them back.
[Nov 8, 2009 5:02:35 PM PST] InvestorsLive I think that’s something important to understand because many for some reason have a hard time taking profits
[Nov 8, 2009 5:02:56 PM PST] InvestorsLive sometimes people PM me still holding a stock that ran up huge… but they didn’t sell any and/or held it all day even after it broker prior support
[Nov 8, 2009 5:03:31 PM PST] InvestorsLive WDAS was a really great example, also BRYN where it doubled so quickly
[Nov 8, 2009 5:03:42 PM PST] InvestorsLive I took off some for the near double nearly immediately
[Nov 8, 2009 5:03:57 PM PST] InvestorsLive QUESTION: If a trade goes against you that you were holding from the previous day what do you use to determine your exit? Like WDAS from Thursday for example. Did you stay in that trade and why?
[Nov 8, 2009 5:04:10 PM PST] InvestorsLive WDAS good question, just used my gapper rules that I went over in the prior two seminars, if it doesn’t start heading up right out of the gate and/or does’t hold green I’m not interested I get out, so I sold and locked in my profits. I did however hold 5k shares still that didn’t fill but since we were up nicely on it just held them -wasn’t too concerned.
[Nov 8, 2009 5:04:48 PM PST] InvestorsLive if I wasn’t in as low as I was in on Thursday than I probably would have sold it all rigth away but since it was a decent padding, I wasn’t too worried for the dip since it kept on being bid up as well
[Nov 8, 2009 5:05:16 PM PST] InvestorsLive QUESTION: When you enter a trade and it goes against you do you always stick to your mental stop loss or do you sometimes exit early due to price action, etc.
[Nov 8, 2009 5:05:37 PM PST] InvestorsLive Usually most of the stops are already there for me, if it re-breaks a high of day then I know I want to stop out and just re-try it later or maybe flip to the long. Also take a short like REV or CROX. REV was last week and I mentioned during the day $9.20 was prior consolidation/support this is one thing I look for had it broke down it may have been a nice spot to add to my winning position if it held and broke higher off it, good cover to take my profits (which we did then went long for the $10 test into close)
[Nov 8, 2009 5:05:53 PM PST] InvestorsLive http://www.investorsunderground.com/2009/11/02/trading-hour-chat-logs-197/
[Nov 8, 2009 5:06:00 PM PST] InvestorsLive [Nov 2, 2009 9:57:05 AM PST] InvestorsLive 9.20 is the support on REV if it cracks it may make a nice slide all day [Nov 2, 2009 9:57:10 AM PST] InvestorsLive otherwise may just chill around that level
[Nov 8, 2009 5:06:20 PM PST] InvestorsLive just an example – one you can probably remember from chat last week (also CROX Friday)
[Nov 8, 2009 5:06:31 PM PST] InvestorsLive CROX example on Friday – check out the 1 minute chart and you’ll be able to see what I mean – sometimes these act as magnets where they’ll hang around that level – but most times I look for basically a “floor” or a “ceiling” where it last hit if it holds over the floor I’m in, if it fades under it I cut my loss – if ceiling I’m in as long as it stays under, if it breaks above it or looks to, I may take my losses. [Nov 6, 2009 6:50:41 AM PST] InvestorsLive 6.15 support falling a bit on CROX – this has been the support level
[Nov 8, 2009 5:07:06 PM PST] InvestorsLive so that’s what I’ll look for just as we also look for whole dollars, half dollars etc
[Nov 8, 2009 5:07:21 PM PST] InvestorsLive if a stock was topped out at $8 dollars ALL day
[Nov 8, 2009 5:07:39 PM PST] InvestorsLive and couldn’t break and the last hour goes to re-test it.. has a bunch of vol and breaks it.. that’s bullish I’d want to be long that
[Nov 8, 2009 5:07:59 PM PST] InvestorsLive just as if CROX held 6.15 like it did on Friday and kept hitting in.. 2nd time it tested it it broke down
[Nov 8, 2009 5:08:06 PM PST] InvestorsLive then 6.15 become the top
[Nov 8, 2009 5:08:21 PM PST] InvestorsLive any questions so far?
[Nov 8, 2009 5:08:27 PM PST] InvestorsLive on that last question or any before
[Nov 8, 2009 5:08:28 PM PST] tarheeljeff <raises hand>
[Nov 8, 2009 5:08:53 PM PST] tarheeljeff Other than the floor/support level, do you look at any other indicators to spot a good point to short? (macd, etc.)
[Nov 8, 2009 5:09:06 PM PST] InvestorsLive no
[Nov 8, 2009 5:09:10 PM PST] tarheeljeff k
[Nov 8, 2009 5:09:10 PM PST] InvestorsLive volume
[Nov 8, 2009 5:09:12 PM PST] InvestorsLive 1 min chart
[Nov 8, 2009 5:09:17 PM PST] InvestorsLive and stuff we’ve gone over before like whole #s
[Nov 8, 2009 5:09:23 PM PST] InvestorsLive prior support on intraday charts
[Nov 8, 2009 5:09:28 PM PST] InvestorsLive I don’t use any other technical indiciators
[Nov 8, 2009 5:09:32 PM PST] InvestorsLive if that’s your question
[Nov 8, 2009 5:09:40 PM PST] InvestorsLive just prior support/resistance and volume price action that day
[Nov 8, 2009 5:09:41 PM PST] tarheeljeff is it better to see higher/lower volume when support breaks? for a short
[Nov 8, 2009 5:09:58 PM PST] InvestorsLive usually volume comes in as a result
[Nov 8, 2009 5:10:03 PM PST] InvestorsLive of a break
[Nov 8, 2009 5:10:06 PM PST] InvestorsLive break down and or break out
[Nov 8, 2009 5:10:13 PM PST] tarheeljeff k, thanks IL
[Nov 8, 2009 5:10:18 PM PST] InvestorsLive that’s why we anticipate the break sometimes
[Nov 8, 2009 5:10:23 PM PST] InvestorsLive Muddy and I talked last time
[Nov 8, 2009 5:10:29 PM PST] InvestorsLive stuff testing towards a higher whole number
[Nov 8, 2009 5:10:37 PM PST] InvestorsLive re-test heads higher…
[Nov 8, 2009 5:10:40 PM PST] InvestorsLive 7.90s…
[Nov 8, 2009 5:10:42 PM PST] InvestorsLive 7.92…
[Nov 8, 2009 5:10:47 PM PST] InvestorsLive maybe long it anticipating that $8 break
[Nov 8, 2009 5:10:48 PM PST] Ducks when you say volume comes in is that an increase or decrease
[Nov 8, 2009 5:11:07 PM PST] InvestorsLive if volume comes in
[Nov 8, 2009 5:11:09 PM PST] InvestorsLive that’d be an increase
[Nov 8, 2009 5:11:52 PM PST] jonnyslots sometimes these tests seem like bait…they you buy the round # anticipating a break and the stock descends back from say 8 to 7.9 – 7.85 on tiny volume…why?
[Nov 8, 2009 5:12:35 PM PST] InvestorsLive You’re probably referring to a lower float stock
[Nov 8, 2009 5:12:41 PM PST] InvestorsLive if that’s the case then usually we wait for the break and hold
[Nov 8, 2009 5:12:49 PM PST] InvestorsLive so if something shoots up quick for example OPTT
[Nov 8, 2009 5:12:57 PM PST] InvestorsLive lower float stock, maybe you want to see it break $8 first
[Nov 8, 2009 5:13:02 PM PST] InvestorsLive and prove that it holds
[Nov 8, 2009 5:13:09 PM PST] InvestorsLive then long it
[Nov 8, 2009 5:13:19 PM PST] InvestorsLive then you have ur stop if it fails to hold $8 level
[Nov 8, 2009 5:13:44 PM PST] InvestorsLive but as far as breaks, and stocks going back to re-test highs and antcipating – I generally pick stocks that are coming off support/consolidation levels
[Nov 8, 2009 5:13:47 PM PST] jonnyslots but you often see these guys bubble to say 8.05 then make the same descent is there any clue that indicates it will hold and move higher volume?
[Nov 8, 2009 5:13:59 PM PST] InvestorsLive so worst case it fails, and you sell at/near your entry
[Nov 8, 2009 5:14:05 PM PST] Seq after you “long” it what do you do next?
[Nov 8, 2009 5:14:33 PM PST] InvestorsLive Seq – long means taking a long position
[Nov 8, 2009 5:14:37 PM PST] InvestorsLive meaning you’ve bought
[Nov 8, 2009 5:14:48 PM PST] InvestorsLive Short means taking a short position, betting it is going to go down
[Nov 8, 2009 5:14:52 PM PST] InvestorsLive long = betting its going to go up
[Nov 8, 2009 5:15:17 PM PST] Ducks can you explain consolidation
[Nov 8, 2009 5:15:20 PM PST] Ohhoshow exactly that was my question….i feel like often times it will go to like 8.05 and then hang around and then fade
[Nov 8, 2009 5:15:33 PM PST] InvestorsLive yes I will in a min I have another question that hits upon stuff we’ve done before
[Nov 8, 2009 5:15:37 PM PST] Ohhoshow either tahn or blow right by 8 and then its too high to buy
[Nov 8, 2009 5:16:56 PM PST] InvestorsLive well for example in a prior seminar a good example was a stock that had jumped real quick 1.70.. 1.80
[Nov 8, 2009 5:16:58 PM PST] InvestorsLive towards $2
[Nov 8, 2009 5:17:07 PM PST] InvestorsLive but do you really want to chase a .30 cent move for the 2 break?
[Nov 8, 2009 5:17:23 PM PST] InvestorsLive probably not – so Mud will wait for $2 test/hold and if it holds $2s and starts heading for highs
[Nov 8, 2009 5:17:35 PM PST] InvestorsLive prob a nice entry – one of the other hard parts is knowing when to stop out
[Nov 8, 2009 5:17:42 PM PST] InvestorsLive that gives you an immediate stop
[Nov 8, 2009 5:17:59 PM PST] InvestorsLive because if it doesn’t hold 7.90-7.95… and ur in at 8.. you can stop out
[Nov 8, 2009 5:18:31 PM PST] InvestorsLive QUESTION: When a stock is about to break to new highs for the day, what are some things you look for in order to buy. Many times when i buy a stock at new highs, I feel like it runs a few cents, but then sputters and sinks. I need to learn how and when to buy before the stocks make a run, any advice would be great. Thanks. QUESTION: How do you set up your chart? What is it that you look for in the chart and how do you determine when to get in and out of a stock? Please be detailed or specific if possible.
[Nov 8, 2009 5:19:00 PM PST] InvestorsLive This is something we’ve covered before but I’m pretty much visualized it in a prior seminar on the 28th which I would highly suggest because no only have I put 1 min charts but also the 3 month
[Nov 8, 2009 5:19:02 PM PST] InvestorsLive Check out the following seminar http://www.investorsunderground.com/2009/06/28/seminar-28th/ the chat logs to go along with it are right here: http://www.investorsunderground.com/2009/06/28/seminar-june-28th-2009-chat-logs/ That seminar I discussed many different recent plays and exactly what I say in chat … look for on the chart (daily and intraday) in determining entry and exits.
[Nov 8, 2009 5:19:28 PM PST] InvestorsLive the first 1 is chat logs + some charts so you can see what was said and also see it visually
[Nov 8, 2009 5:19:34 PM PST] InvestorsLive the 2nd link is that seminar and me explaining it
[Nov 8, 2009 5:19:48 PM PST] InvestorsLive and those that just asked about consolidation
[Nov 8, 2009 5:19:56 PM PST] InvestorsLive that’s your best answer
[Nov 8, 2009 5:20:02 PM PST] InvestorsLive also like I said earlier on that REV example
[Nov 8, 2009 5:20:23 PM PST] InvestorsLive if you check the chart on that day: Nov 2, 2009 9:57:05 AM PST
[Nov 8, 2009 5:20:29 PM PST] InvestorsLive $9.20 = consolidation
[Nov 8, 2009 5:20:37 PM PST] InvestorsLive you’ll see it that date perfect example of a hold
[Nov 8, 2009 5:21:07 PM PST] InvestorsLive any questions so far based on the ones we’ve covered?
[Nov 8, 2009 5:21:56 PM PST] tarheeljeff nope
[Nov 8, 2009 5:22:04 PM PST] Ducks I just want to say that you are doing a great job
[Nov 8, 2009 5:22:06 PM PST] junzhangyankees nope
[Nov 8, 2009 5:22:14 PM PST] jonnyslots new topic from earlier question I e-mailed…I made a nice profit off of VKNG on two trades…then it spiked like crazy…not complaining…was way up on CHBO, thinking it would follow the same pattern, then held over night and got killed the next morning…are you suggesting that you sell immediately when you see it slide under the previous day’s close?
[Nov 8, 2009 5:22:18 PM PST] Seq clear as mud
[Nov 8, 2009 5:22:20 PM PST] InvestorsLive thx Ducks
[Nov 8, 2009 5:22:23 PM PST] InvestorsLive jonny – one at a time
[Nov 8, 2009 5:22:31 PM PST] jonnyslots sorry
[Nov 8, 2009 5:22:35 PM PST] InvestorsLive I’ll get to ’em
[Nov 8, 2009 5:22:48 PM PST] InvestorsLive QUESTION: Can you recommend certain sites or individuals to follow that usually move stocks once their recommendation is sent out to subscribers. I noticed Lebed’s stocks picks the day of are winners and Friday we saw NWBO make a huge move that most likely was attributed by an investment article on that stock. I’m just looking for other ways to research these stocks while they are at the start of their moves due to a pump. Who else in your opinion should we follow when they write something?
[Nov 8, 2009 5:23:16 PM PST] InvestorsLive They are just good to know, so you’re aware why something is moving but many times unless I’m near first in and/or it has a history of running I won’t touch it unless it comes on my scan during the day (which meets my criteria/parameters that it has to trade $X, X trades, X shares etc – see 2 seminars ago about my scan). Have no idea who/what/where/when on NWBO it was on my scan all day and felt it was going to be a gapper based on how it was trading extremely early as I called for it at $1.25.
[Nov 8, 2009 5:23:35 PM PST] InvestorsLive for example tomorrow
[Nov 8, 2009 5:23:43 PM PST] InvestorsLive LUXE I am watching like a hawk
[Nov 8, 2009 5:24:18 PM PST] InvestorsLive why? Because based on the newsletters I’m subscribed to (went over all that last seminar) and disclaimers that I read and all of that… all bestdamnpennystocks sister sites are going out on it
[Nov 8, 2009 5:24:35 PM PST] InvestorsLive howtobuyhotpennystocks / topbestpennystocks etc
[Nov 8, 2009 5:24:46 PM PST] InvestorsLive so no that doesn’t mean I’m going to buy it straight out 100%
[Nov 8, 2009 5:24:51 PM PST] InvestorsLive but it’s on my radar I’m AWARE of it
[Nov 8, 2009 5:24:56 PM PST] InvestorsLive and especially if it closes strong
[Nov 8, 2009 5:25:06 PM PST] InvestorsLive I will probably gap it since we know these guys pump thru zillion of sites
[Nov 8, 2009 5:25:23 PM PST] InvestorsLive last time that was the front site for the next bestdamnpennystock play and we made huge on it
[Nov 8, 2009 5:25:30 PM PST] InvestorsLive so that’s how I will “use” them
[Nov 8, 2009 5:25:50 PM PST] InvestorsLive no newsletter makes me buy because of what they write.. .I look at it.. look at the chart
[Nov 8, 2009 5:25:53 PM PST] InvestorsLive remember how their last ones have done
[Nov 8, 2009 5:26:07 PM PST] InvestorsLive the best example of that is MEVT
[Nov 8, 2009 5:26:07 PM PST] InvestorsLive http://www.InvestorsLive.com/2009/10/24/how-we-nailed-200-easily-out-of-mse-enviro-tech-corp-mevtpk/
[Nov 8, 2009 5:26:12 PM PST] InvestorsLive when we just went in blidn
[Nov 8, 2009 5:26:15 PM PST] InvestorsLive cuz they were hot as hell
[Nov 8, 2009 5:26:20 PM PST] Laura Saw someone mention CHBO, I rebought near close
[Nov 8, 2009 5:26:46 PM PST] InvestorsLive QUESTION: Had great success with your Tweets, even though I’ve arrived late to several of the dances. I did, however, get hammered by holding on to CHBO overnight, anticipating the gap up. Instead, as you know, it gapped down. Turned a 3k gain into a 3k loss. Now with VKNG, on the other hand, I took some excellent profits, but wish I had anticipated the huge secondary moves up. So my main question is:
[Nov 8, 2009 5:26:52 PM PST] InvestorsLive that one
[Nov 8, 2009 5:26:58 PM PST] Laura But next morning, no volume, no action. Exited with tiny loss. These type HAVE to have volume to run
[Nov 8, 2009 5:27:17 PM PST] InvestorsLive also 1 another note on that example
[Nov 8, 2009 5:27:26 PM PST] InvestorsLive CHBO was like VKNG and the day before on VKNG
[Nov 8, 2009 5:27:29 PM PST] InvestorsLive Muddy and I both suggested
[Nov 8, 2009 5:27:33 PM PST] InvestorsLive if u were planning on gapping it
[Nov 8, 2009 5:27:39 PM PST] InvestorsLive just do urself a favor and LOCK some profits in
[Nov 8, 2009 5:27:40 PM PST] InvestorsLive at least 1/2
[Nov 8, 2009 5:27:41 PM PST] Seq ‘
[Nov 8, 2009 5:27:49 PM PST] InvestorsLive because yea, HUGE momentum but 500% move…
[Nov 8, 2009 5:27:59 PM PST] InvestorsLive sure it could gap up but can easily gap down
[Nov 8, 2009 5:28:24 PM PST] InvestorsLive there are related to that question
[Nov 8, 2009 5:28:25 PM PST] InvestorsLive 1. What are the “tells” that one of these pieces of crud will continue to ascend… or not. (I look for stocks that are closing strong aka at or near HOD on strong volume – something like CHBO traded 50M + shares and didn’t close near its highs so you have a 50/50 chance of being right just like VKNG where we had suggest to definitely take off 1/2 if you were gapping it because it had a huge move and could have gone either way, I usually don’t even bother especially something like CHBO which had been fading off its highs all day – that wouldn’t be a gap potential.
[Nov 8, 2009 5:29:03 PM PST] InvestorsLive QUESTION. I’m intrigued by the low float pink sheet plays, ‘cuz theoretically it would only take a small number of investors to buy up the public float, promote the stock and drive up the price. Are the float sizes represented on E-Trade accurate? Is this the case that the small floaters run up easier?
[Nov 8, 2009 5:29:08 PM PST] InvestorsLive Probably not, I would suggest doing that due diligence on your own. More than likely they are doing debt conversions and diluting the shareholders with each promotion. Sure, smaller float go up just as fast also are much more illiquid, risky and could go against faster than something that’s more liquid and actually has a larger float.
[Nov 8, 2009 5:29:41 PM PST] InvestorsLive QUESTION: I’ve found that E-Trade doesn’t allow you to short very many issues. Why not? And what’s a good on-line trading service that would enable you to do this with better success? Because E-Trade is an awful broker, it’s one of the worst brokers second to Scottrade for trading what we trade. If you’re under PDT, CY Group/HarmonTrading if not, IB is good, and SpeedTrader I use and recommend.
[Nov 8, 2009 5:30:16 PM PST] jonnyslots …I followed EEGC and actually read the pump…big oil deal, worth “$10” a share and it barely budged…is this a red flag…or again, are you simply/exclusively playing the chart/volume?
[Nov 8, 2009 5:30:36 PM PST] InvestorsLive chart/volume
[Nov 8, 2009 5:30:43 PM PST] InvestorsLive its not worth $10
[Nov 8, 2009 5:30:50 PM PST] jonnyslots lol
[Nov 8, 2009 5:30:52 PM PST] InvestorsLive even if it is, we don’t care
[Nov 8, 2009 5:30:57 PM PST] jonnyslots gotcha
[Nov 8, 2009 5:31:00 PM PST] InvestorsLive we are momentum traders
[Nov 8, 2009 5:31:04 PM PST] jonnyslots indeed
[Nov 8, 2009 5:31:23 PM PST] InvestorsLive [Nov 5, 2009 7:51:53 AM PST] InvestorsLive those playing EEGC if this pops to .09-.10 here just remember.. lock some in – WDAS pulled back etc – pops are good for taking a few off
[Nov 8, 2009 5:31:45 PM PST] InvestorsLive that was top, but just reminding you guys that there aren’t all just goin to go up
[Nov 8, 2009 5:32:00 PM PST] InvestorsLive if a stock is slowly going and then lights a fuse under its azz… quit being greedy
[Nov 8, 2009 5:32:04 PM PST] InvestorsLive take some off the table
[Nov 8, 2009 5:32:33 PM PST] Gray419 pigs get slaughtered
[Nov 8, 2009 5:32:41 PM PST] InvestorsLive this goes into what I said earlier
[Nov 8, 2009 5:32:43 PM PST] InvestorsLive about “inching”
[Nov 8, 2009 5:32:48 PM PST] InvestorsLive me and Muddy always use it
[Nov 8, 2009 5:33:13 PM PST] InvestorsLive WDAS gotta check that chart out Thurs
[Nov 8, 2009 5:33:23 PM PST] InvestorsLive perfect example, we love inch mode turned into rip (breakout) mode
[Nov 8, 2009 5:33:35 PM PST] InvestorsLive just be smart and lock some in
[Nov 8, 2009 5:33:55 PM PST] tarheeljeff when you guys say “inching”, should we then consider an entry as it has potentional for the fuse to light
[Nov 8, 2009 5:34:28 PM PST] InvestorsLive vol and poppage is usually a good exit yes some inchers are the best to be long
[Nov 8, 2009 5:34:38 PM PST] InvestorsLive most times if its inching I’d say my entry and/or just update to it
[Nov 8, 2009 5:34:44 PM PST] InvestorsLive or say where I’d be looking for the break to buy
[Nov 8, 2009 5:34:53 PM PST] InvestorsLive sometimes I won’t buy an incher until it starts to test an certain break point
[Nov 8, 2009 5:34:58 PM PST] InvestorsLive whatever I see baesd on the chart
[Nov 8, 2009 5:35:02 PM PST] InvestorsLive based*
[Nov 8, 2009 5:35:11 PM PST] InvestorsLive if its 1.21… I may wait to see 1.25s getting pounded
[Nov 8, 2009 5:35:13 PM PST] InvestorsLive before entry
[Nov 8, 2009 5:35:39 PM PST] InvestorsLive QUESTION: Do you think that you could mention in chat more trades that you exit and why that are going against you? I think it would help people that don’t know when to exit a trade that is not going in their direction.
[Nov 8, 2009 5:35:52 PM PST] InvestorsLive What I would do is just pay attention to what I say, if you look at chat logs I will say “giving it a dime, support at X price, consolidated off X level” that’s the level that I’m looking for it to hold, if it goes against me and breaks those levels I’m not holding. I write it all for a reason so you guys can see on your own charts where/what I’m looking at and how I trade.
[Nov 8, 2009 5:36:38 PM PST] InvestorsLive someone asked me the other day “oh when did you get out of CENX?” if I mention I am in something its because I think everyone can prolly make $$ on it I don’t like saying entry on OTCBB and/or lower float stocks b/c of what reaper calls the “engineered breakout” effect
[Nov 8, 2009 5:36:51 PM PST] InvestorsLive I have no interest in that but when I say I’m going to give it a “dime”
[Nov 8, 2009 5:36:53 PM PST] InvestorsLive that means .10 stop
[Nov 8, 2009 5:37:04 PM PST] InvestorsLive when I say breaking off this level
[Nov 8, 2009 5:37:07 PM PST] InvestorsLive coming off X support
[Nov 8, 2009 5:37:11 PM PST] InvestorsLive if it breaks X support
[Nov 8, 2009 5:37:13 PM PST] InvestorsLive then that’d be my stop
[Nov 8, 2009 5:37:21 PM PST] InvestorsLive just like the links I gave you earlier
[Nov 8, 2009 5:37:29 PM PST] InvestorsLive to the charts (visual)
[Nov 8, 2009 5:37:34 PM PST] InvestorsLive you’ll see it there
[Nov 8, 2009 5:37:36 PM PST] jonnyslots engineered breakout?
[Nov 8, 2009 5:37:38 PM PST] InvestorsLive same stuff different tickers
[Nov 8, 2009 5:37:53 PM PST] InvestorsLive yes, influenced breakout
[Nov 8, 2009 5:38:16 PM PST] InvestorsLive thinner stocks, and OTCBBs I will alert what I’m trading, or where I’d be looking for a break
[Nov 8, 2009 5:38:28 PM PST] InvestorsLive but I go over enough charts that you guys can pick your entry in/out from there
[Nov 8, 2009 5:38:42 PM PST] InvestorsLive like NWBO I was comfortable because it was trading volume and felt it was a definate gapper
[Nov 8, 2009 5:38:44 PM PST] InvestorsLive if closed near highs
[Nov 8, 2009 5:38:55 PM PST] InvestorsLive we’ll see tomorrow but we got the HOD close
[Nov 8, 2009 5:39:04 PM PST] InvestorsLive something like BRYN, I will bring you timely information
[Nov 8, 2009 5:39:07 PM PST] InvestorsLive like I did BEFORE I bought
[Nov 8, 2009 5:39:34 PM PST] InvestorsLive but I’m not going to say “Buying BRYN cuz I just got a PSC pump on it” and then see all this vol come in b/c some1 decided to follow me
[Nov 8, 2009 5:39:43 PM PST] InvestorsLive cuz as you saw, quick doubler I’m on sell side, period
[Nov 8, 2009 5:40:02 PM PST] jonnyslots more explanation please of engineered/influeneced breakout…i’m intrigued
[Nov 8, 2009 5:40:32 PM PST] junzhangyankees This brings my question up about ENTK….(not rushing ya)
[Nov 8, 2009 5:40:34 PM PST] InvestorsLive its not important to this seminar jonny
[Nov 8, 2009 5:40:42 PM PST] InvestorsLive nor is it benefitial to anyone but let me get u a link
[Nov 8, 2009 5:40:47 PM PST] jonnyslots okay…still learning
[Nov 8, 2009 5:41:25 PM PST] InvestorsLive cant find it maybe Reaper can link it – but not really beneficial to chat just explaining the diff between what I will alert and what I won’t
[Nov 8, 2009 5:41:27 PM PST] InvestorsLive as far as exact entry
[Nov 8, 2009 5:41:34 PM PST] InvestorsLive QUESTION: I notice that in chat it is mostly people just stating that a particular stock is either HOD nHod, LOD, or the bid is up. Do you correlate that with your trading or that a just a FYI?
[Nov 8, 2009 5:41:52 PM PST] Reaper link on engineered breakouts from my blog: http://www.reapertrades.com/2009/10/understanding-engineered-breakouts/
[Nov 8, 2009 5:42:01 PM PST] InvestorsLive thanks Reaper
[Nov 8, 2009 5:42:01 PM PST] jonnyslots thank you
[Nov 8, 2009 5:42:17 PM PST] InvestorsLive HOD and LOD list is something we use, the biggest asset for me as a trader which I learned from Muddy. We’re looking for stocks that are continually hitting HODs we’ve had a lot of success in recent months with the breakouts – however if you’ll notice bmon particularly and myself may be calling for a few that have a very strong morning HODing for the first 2 hours but place them on watch for the fade. How I play this: Monitor 3-4 stocks that were on a tear out of the gate, watch for them to flat line (potentially re-test the HOD but ultimately FAIL that attempt) and short off the high/fade/breakdown knowing that my stop would be if they re-break above HOD. Gives you a stop loss right away.
[Nov 8, 2009 5:43:33 PM PST] InvestorsLive any question on that so far?
[Nov 8, 2009 5:43:57 PM PST] InvestorsLive if you’re in late to chat
[Nov 8, 2009 5:44:03 PM PST] InvestorsLive or if you’re just poking in during the day
[Nov 8, 2009 5:44:12 PM PST] InvestorsLive you acn always pull up a stock if you see someone call out a HOD
[Nov 8, 2009 5:44:17 PM PST] InvestorsLive and see if there’s a trade that can be made
[Nov 8, 2009 5:44:30 PM PST] InvestorsLive (again going back to some of the visualizations I gave, charts earlier)
[Nov 8, 2009 5:44:41 PM PST] InvestorsLive QUESTION: How did you know which ones of PSC’s alerts to pull the trigger on? For example, you acted on BRYN but you did on ENTK.
[Nov 8, 2009 5:44:51 PM PST] InvestorsLive I don’t. I just watch the price and volume and if it’s tight and the chart agrees. I like to be one of the first one in and don’t want to chase it up way to much unless it has insane volume (for example VKNG and CHBO which were trading via momentum all day and not based off some newsletter pumper). ENTK wasn’t attractive – just look at chart it’s up from .25 cents 3 days ago and gets alerted around 1.15 or so – when you look at them you should be asking yourself what is your risk vs. reward here, how much downside potential am I look at – am I one of the first to get in or am I paying 200% more than someone last week? What is the profit potential, is it easier to make 50% on $1.30 stock? or .045 cent stock? Are you one of the first in, is it coming off bottom? (This is what you want) However, if ENTK had volume and proved itself such as NWBO then for sure I would have traded it.
[Nov 8, 2009 5:45:46 PM PST] InvestorsLive QUESTION: Would you recommend switching to Speedtrader for a new investor with under 25K in their account vs other brokers?
[Nov 8, 2009 5:46:00 PM PST] InvestorsLive There’s no advantage if you move to any broker if you’re under $25k. My only suggestion is to join a prop firm such as Cy Group (for Nasdaq – $5k min buy in and you get 20 to 1 which I WOULD NOT suggest but rather request somewhere around 4 to 1 or 5 to 1 until your comfortable with a strategy and find it successful, trading is risky and if you start using margined out positions you can easily find yourself in a nice hole.
[Nov 8, 2009 5:46:12 PM PST] InvestorsLive Secondly, there’s harmontading which is the same platform of Speedtrader (dastrader) you can visit the website for a demo at dastrader.com – I’ve talked with Clyde there and he’s taking $1/off the commission for everyone that comes from here since he knows they’ll be active. I would suggest this one if you enjoy playing OTCBB stocks. They also have a $2k minimum.
[Nov 8, 2009 5:47:13 PM PST] hawkeyes002 what is the commisions for harmon?
[Nov 8, 2009 5:47:18 PM PST] InvestorsLive 8.95
[Nov 8, 2009 5:47:29 PM PST] junzhangyankees 20-1 buying margin ?!?
[Nov 8, 2009 5:47:46 PM PST] InvestorsLive no
[Nov 8, 2009 5:47:48 PM PST] InvestorsLive 4-1
[Nov 8, 2009 5:47:50 PM PST] jonnyslots So your issues with E-Trade are slow execution/trade fee???
[Nov 8, 2009 5:48:03 PM PST] InvestorsLive Etrade just blows, all around slow execution 100%
[Nov 8, 2009 5:48:13 PM PST] Gray419 any onpinion on TDA?
[Nov 8, 2009 5:48:17 PM PST] hawkeyes002 what about sogotrade?
[Nov 8, 2009 5:48:35 PM PST] InvestorsLive I use and recommend SpeedTrader
[Nov 8, 2009 5:48:40 PM PST] InvestorsLive and IB has awesome borrows
[Nov 8, 2009 5:48:52 PM PST] tarheeljeff I can say that I’ve traded with Harmon, in addition to Scott and Zecco… execution time with Harmon blew the socks off the other 2
[Nov 8, 2009 5:48:52 PM PST] InvestorsLive Sogo heard they have good borrows – Reaper and 2nd that
[Nov 8, 2009 5:48:52 PM PST] Ohhoshow hes right ive gotten scrwed on etrade
[Nov 8, 2009 5:49:07 PM PST] Ohhoshow slow execution sometimes…very slow
[Nov 8, 2009 5:49:11 PM PST] junzhangyankees SOgo is terrible
[Nov 8, 2009 5:49:19 PM PST] InvestorsLive anyhow
[Nov 8, 2009 5:49:23 PM PST] InvestorsLive enough brokers
[Nov 8, 2009 5:49:25 PM PST] InvestorsLive QUESTION: Since it seems that you focus more on day trades and Muddy on swing trades do you suggest us trading exclusively what works best for us and our personality or would you encourage us to develop our weakness? This isn’t true, Muddy hardly holds over as well unless of course it’s a UBB walker which is explained in the seminar links I suggest as the top 5 to read in each weekly newsletter. Yes I would try each and you’ll find something that works. My strategy may not work for some that are not good at taking profits and being ok with leaving some on the table. You need to trial and error on your own and you will develop something like one of us maybe a little different, maybe the same but you will find out what works for you. Muddy‘s may work for someone whose part time/full time plays a bit smaller and rather catch a larger move whereas someone who is looking to get in and get out and find that point where a stock breaks out and/or breaks down and lock in profits may be similar to me.
[Nov 8, 2009 5:50:43 PM PST] InvestorsLive and with that…….
[Nov 8, 2009 5:50:46 PM PST] InvestorsLive opened up
[Nov 8, 2009 5:50:50 PM PST] InvestorsLive if you have questions for Me/Muddy
[Nov 8, 2009 5:51:45 PM PST] InvestorsLive and btw thanks for questions guys really helps bringing you guys good answer/examples
[Nov 8, 2009 5:52:07 PM PST] Muddy true,i hardly ever hold anythong overnight…only a short or 2 on the crap ones that were pumps
[Nov 8, 2009 5:53:02 PM PST] Laura plus 52 week highs walking the UBB good swing plays usually
[Nov 8, 2009 5:54:10 PM PST] tarheeljeff Muddy, I’ve read mentions of the ‘floating red candle’, and it making for a great short… is there anything you can share/elaborate on there?
[Nov 8, 2009 5:54:38 PM PST] tarheeljeff think it was referred to as the ‘kiss of death’ at some point on the GOTS blog
[Nov 8, 2009 5:57:59 PM PST] Muddy right,any candle out of the ubb that is red,if it opens red or goes green to red has a history of dropping right back into within the bollies
[Nov 8, 2009 5:59:07 PM PST] Muddy on dayrangers where the grids on the chart are larger,aka dayrayrangers,this drop can give 10%+ easy
[Nov 8, 2009 5:59:36 PM PST] tarheeljeff I’ve been using a date offset on my UBB scan, and I’ve found a few nice red floats…
[Nov 8, 2009 6:00:17 PM PST] junzhangyankees whats UBB
[Nov 8, 2009 6:00:25 PM PST] tarheeljeff upper bollinger band
[Nov 8, 2009 6:01:04 PM PST] tarheeljeff IL referenced the weekly newsletter and the ‘top seminars’ links… Muddy and Laura went over UBB walkers really thoroughly, awesome seminar!
[Nov 8, 2009 6:01:13 PM PST] jonnyslots I have a very rudimentary question about shorting? Any of you technocrats interested?
[Nov 8, 2009 6:01:29 PM PST] Laura what’s the Q
[Nov 8, 2009 6:01:38 PM PST] InvestorsLive hold on let me look up what rudimentary and technocrats means
[Nov 8, 2009 6:01:57 PM PST] Laura at least he can spell IL!
[Nov 8, 2009 6:02:04 PM PST] jonnyslots I’ve been trading long successfully for 15 years and have only recently divined the power of the short.
[Nov 8, 2009 6:02:15 PM PST] jonnyslots I’m smart guys, not crazy or obsessed…
[Nov 8, 2009 6:02:23 PM PST] jonnyslots Anyhow
[Nov 8, 2009 6:03:17 PM PST] jonnyslots I’ve noticed that the few stocks E-Trade will let me fade will almost invariably bounce higher immediately after I short say 2000-3000 shares. KFY has repeatedly scared me that way. Is there some kind of anti-short alogrithm in play?
[Nov 8, 2009 6:03:17 PM PST] junzhangyankees woa..the vocab!!
[Nov 8, 2009 6:03:55 PM PST] jonnyslots Thanks for your tolerance.
[Nov 8, 2009 6:04:23 PM PST] InvestorsLive I don’t think any anti-short alogirthm play would really care about 2-3k shares
[Nov 8, 2009 6:04:23 PM PST] Seq y dont you just average into the short position then?
[Nov 8, 2009 6:04:55 PM PST] InvestorsLive looks like a very tight trading stock perhabs spread .05+ during the day
[Nov 8, 2009 6:05:00 PM PST] InvestorsLive doesn’t trade much vol
[Nov 8, 2009 6:05:24 PM PST] InvestorsLive but I don’t think they’d care about a small time trade vs. maybe someone that has 10-20k shares that they just hit it with and try to squeeze them one way or the other
[Nov 8, 2009 6:05:25 PM PST] junzhangyankees Okay so, are pink sheets and OTC shortable?
[Nov 8, 2009 6:05:32 PM PST] InvestorsLive some are
[Nov 8, 2009 6:05:33 PM PST] InvestorsLive some aren’t
[Nov 8, 2009 6:05:40 PM PST] InvestorsLive depends if you can get borrows, but yes
[Nov 8, 2009 6:05:57 PM PST] junzhangyankees thanks IL
[Nov 8, 2009 6:06:00 PM PST] jonnyslots Great question. Who can you short the trashy mo-mo pinks with?
[Nov 8, 2009 6:06:07 PM PST] Laura many are on IB, but you better have a ton of cash/buying power
[Nov 8, 2009 6:06:21 PM PST] jonnyslots How much is a ton?
[Nov 8, 2009 6:06:34 PM PST] Laura shorting a .50 stock costs you 2.50/share BP/cash
[Nov 8, 2009 6:07:18 PM PST] Laura 2.50/share minimum hit to your account, so shorting a .10 stock is nuts
[Nov 8, 2009 6:07:27 PM PST] jonnyslots Gotcha.
[Nov 8, 2009 6:08:09 PM PST] Laura one other Q we got is this: what would be the ideal scan/filter on stockfetcher for finding high volume stocks that will move a lot intraday?
[Nov 8, 2009 6:08:10 PM PST] junzhangyankees woa…what Laura?
[Nov 8, 2009 6:08:46 PM PST] Laura Simple answer to that is the dayranger scan $1-10
[Nov 8, 2009 6:09:28 PM PST] Laura volume and movement. So many newbies try to play the tiny penny stocks to build their accts, only to bust their accts.
[Nov 8, 2009 6:09:41 PM PST] Laura Slow and steady………wins the race
[Nov 8, 2009 6:09:56 PM PST] Laura What yankee?
[Nov 8, 2009 6:10:13 PM PST] junzhangyankees never mind…i figured it out
[Nov 8, 2009 6:11:58 PM PST] jonnyslots Are we done?
[Nov 8, 2009 6:12:12 PM PST] Laura not if you have more Qs
[Nov 8, 2009 6:12:33 PM PST] junzhangyankees let’s make some picks for tomorrow.
[Nov 8, 2009 6:13:04 PM PST] Gray419 I have 1 quick question
[Nov 8, 2009 6:14:21 PM PST] InvestorsLive so far its slow..
[Nov 8, 2009 6:14:23 PM PST] InvestorsLive better get typing ha
[Nov 8, 2009 6:14:25 PM PST] InvestorsLive jk
[Nov 8, 2009 6:14:47 PM PST] Gray419 For someone who doesnt short either to no margin or just not cormotable, would you consider catching bounces on pumps such as GHLV recently , a plausible strategy?
[Nov 8, 2009 6:14:55 PM PST] Gray419 sorry for the spelling
[Nov 8, 2009 6:14:59 PM PST] InvestorsLive no
[Nov 8, 2009 6:15:15 PM PST] InvestorsLive would never suggest trying to catch a bottom of a pump
[Nov 8, 2009 6:15:23 PM PST] InvestorsLive unless your ok with losing 50% more
[Nov 8, 2009 6:15:28 PM PST] InvestorsLive I did on NXTH, SPNG, BEHL etc but
[Nov 8, 2009 6:15:35 PM PST] InvestorsLive I’m also ok with losing 100% of my investment
[Nov 8, 2009 6:15:36 PM PST] Laura agree, catch em on first run
[Nov 8, 2009 6:15:50 PM PST] InvestorsLive so as lon as ur okk with that then go for it.. but no doesn’t sound like good idea
[Nov 8, 2009 6:15:59 PM PST] InvestorsLive GETA as well
[Nov 8, 2009 6:16:03 PM PST] InvestorsLive I did, payed off nicely but
[Nov 8, 2009 6:16:25 PM PST] Laura GETA had the volume to support a bounce
[Nov 8, 2009 6:16:30 PM PST] Gray419 so your recomending trying to catch the PUMP versus wating for the Initial DUMP to happen and catch the oversold bounce….
[Nov 8, 2009 6:16:39 PM PST] Gray419 or short squeeze
[Nov 8, 2009 6:17:21 PM PST] InvestorsLive right
[Nov 8, 2009 6:17:28 PM PST] InvestorsLive follow the momentum, and green
[Nov 8, 2009 6:17:29 PM PST] Gray419 right i also played GETA as well and made out well
[Nov 8, 2009 6:17:30 PM PST] Laura you really don’t have short squeezes on true pennies
[Nov 8, 2009 6:17:32 PM PST] InvestorsLive don’t follow red
[Nov 8, 2009 6:17:36 PM PST] InvestorsLive red brings more red
[Nov 8, 2009 6:17:55 PM PST] InvestorsLive wasn’t NWBO easier to catch on upside?
[Nov 8, 2009 6:18:01 PM PST] InvestorsLive then trying to guess where bottom may be after it drops?
[Nov 8, 2009 6:18:12 PM PST] Gray419 for instances i keep CITGQ and LEARQ on my level 1 becuase im waiting to see if they are oversold, does that make sense?
[Nov 8, 2009 6:18:45 PM PST] InvestorsLive just wait for them to show up on our cans
[Nov 8, 2009 6:18:46 PM PST] InvestorsLive scans
[Nov 8, 2009 6:18:50 PM PST] InvestorsLive they will…
[Nov 8, 2009 6:19:08 PM PST] InvestorsLive CITGQ one day will show up fighting outta the open hitting HODs
[Nov 8, 2009 6:19:12 PM PST] InvestorsLive that’s the day I want to play it
[Nov 8, 2009 6:19:40 PM PST] junzhangyankees ::laugh
[Nov 8, 2009 6:19:51 PM PST] pdicamillo1 IL, you mentioned that BOCL is rumored to be pumped over the weekend. Is there any way to determine which stocks might receive a pump overnight?
[Nov 8, 2009 6:19:52 PM PST] InvestorsLive serious
[Nov 8, 2009 6:20:09 PM PST] InvestorsLive not really
[Nov 8, 2009 6:20:15 PM PST] junzhangyankees yea Il i know…i meant for a happy face but couldnt find one
[Nov 8, 2009 6:20:24 PM PST] junzhangyankees ::biggrin
[Nov 8, 2009 6:20:30 PM PST] InvestorsLive BRYN was kinda a gimme…
[Nov 8, 2009 6:20:44 PM PST] InvestorsLive by now anyone that follows PSC should know they love pumping over weekend
[Nov 8, 2009 6:20:51 PM PST] InvestorsLive so now they are calling for 500%
[Nov 8, 2009 6:20:52 PM PST] InvestorsLive who knows
[Nov 8, 2009 6:21:00 PM PST] InvestorsLive but was easy long, low risk, not big $ at risk
[Nov 8, 2009 6:21:03 PM PST] InvestorsLive I’ll take wahtever they give
[Nov 8, 2009 6:21:36 PM PST] junzhangyankees what u think about $MESA
[Nov 8, 2009 6:21:49 PM PST] InvestorsLive I don’t
[Nov 8, 2009 6:22:31 PM PST] InvestorsLive doesn’t look like anything
[Nov 8, 2009 6:22:38 PM PST] InvestorsLive former runner tho so if it pops id play it
[Nov 8, 2009 6:22:40 PM PST] InvestorsLive but dead duck for now
[Nov 8, 2009 6:23:34 PM PST] Laura MESA been dead for forever
[Nov 8, 2009 6:23:45 PM PST] InvestorsLive alright well feel free to PM more questions and/or ask in chat I’ll be on/off but can continue to field them when I’m around I’ll place chat logs up as well – great seminar guys – really like the questions coming in
[Nov 8, 2009 6:24:00 PM PST] Gray419 thanks alot
[Nov 8, 2009 6:24:13 PM PST] Seq tanks IL
[Nov 8, 2009 6:24:17 PM PST] junzhangyankees Thanks for the help!!
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