[Apr 22, 2012 8:01:30 PM EDT] InvestorsLive alrighty guys – welcome another seminar some good questions sent in .. I’ll cover a few otehr things I wanted to as well that I noticed people were doing this week
[Apr 22, 2012 8:01:39 PM EDT] InvestorsLive Craig is here during seminar if you guys want to figure out a good deal for SpeedTrader
[Apr 22, 2012 8:01:44 PM EDT] InvestorsLive feel free to PM him (not in chat)
[Apr 22, 2012 8:01:53 PM EDT] InvestorsLive and last but not least same thing as always in chat …
[Apr 22, 2012 8:01:57 PM EDT] InvestorsLive we’ll stick to the questions at hand
[Apr 22, 2012 8:02:03 PM EDT] InvestorsLive we’ll clear up any questions RELATED to the question
[Apr 22, 2012 8:02:09 PM EDT] InvestorsLive and move on… etc etc
[Apr 22, 2012 8:02:34 PM EDT] InvestorsLive so please don’t ask me what broker to use, what I think about MSFT long term and crap like that in the middle of a discussion about another question
[Apr 22, 2012 8:02:51 PM EDT] InvestorsLive thanks all – and hopefully you all reviewed the seminar suggested for tonight on the seminar prep page
[Apr 22, 2012 8:03:21 PM EDT] InvestorsLive So first and foremost one thing I wanted to mention this week I saw a lot of was just random trading
[Apr 22, 2012 8:03:48 PM EDT] InvestorsLive people PM me and say “I’m in XYZ and I’m up $200 when should I sell”
[Apr 22, 2012 8:04:01 PM EDT] InvestorsLive or “I’m down $200 and not sure where to sell or take the loss?”
[Apr 22, 2012 8:04:03 PM EDT] InvestorsLive etc
[Apr 22, 2012 8:04:17 PM EDT] InvestorsLive I sorta mentioned it this week but it’s pretty bothersome to see more and more of you just having NO PLAN
[Apr 22, 2012 8:04:33 PM EDT] InvestorsLive trading is about having a plan … IF you press the buy button you should have a plan or a mental stop as to where you’re getting out
[Apr 22, 2012 8:04:45 PM EDT] InvestorsLive on scan this week I had HEAT as an anticipating the $8 break possible long
[Apr 22, 2012 8:05:02 PM EDT] InvestorsLive I had people PM me who bought $8.05-8.10 (near top) after that .40-.45 cent spike
[Apr 22, 2012 8:05:16 PM EDT] InvestorsLive PM me later on saying I’m down with a $8.05 avg should I just cut my losses now?
[Apr 22, 2012 8:05:40 PM EDT] InvestorsLive first things first, a) read scan, the play is to ANTICIPATE the break off a perk/gearing action not buy into a parabolic move
[Apr 22, 2012 8:05:57 PM EDT] InvestorsLive b) it’s OK to miss a play, don’t feel you are going to miss and just buy at any price
[Apr 22, 2012 8:06:03 PM EDT] InvestorsLive there is a lot going on in the market right now
[Apr 22, 2012 8:06:08 PM EDT] InvestorsLive you’ll have another one right behind it
[Apr 22, 2012 8:06:41 PM EDT] InvestorsLive lastly – have a plan, if you’re buying off 8.65-.70s where I was gearing/perking .. trade accordingly, ok I want my risk to be $200 … play 1k shares risking to $8.50s
[Apr 22, 2012 8:06:51 PM EDT] InvestorsLive risk $500 … play 2k 2.5k etc
[Apr 22, 2012 8:06:59 PM EDT] torntech What do you mean by buying the perk/gearing action instead of the parabolic move?
[Apr 22, 2012 8:07:22 PM EDT] InvestorsLive I buy off gearing/perking off support vs. chasing a parabolic move
[Apr 22, 2012 8:07:38 PM EDT] InvestorsLive no sense chasing the .40 cent spike like some did and then PMed me wondering what to do
[Apr 22, 2012 8:08:02 PM EDT] InvestorsLive any questions about this guys? just saw it a lot this week and I know we have a lot of new members but you’re going to lose your shirt real fast if you just decide to play random
[Apr 22, 2012 8:08:50 PM EDT] InvestorsLive the risk – risk at hand is much like the seminar I had you go over before tonight … gearing/perking risk being just under where it perks off from (whole/half dollar mark prior support level)
[Apr 22, 2012 8:09:02 PM EDT] InvestorsLive late day fader, prior high (if in a channel top of channel etc)
[Apr 22, 2012 8:09:23 PM EDT] InvestorsLive alright cool – quiet bunch tonight I’llg et to the questions
[Apr 22, 2012 8:09:40 PM EDT] InvestorsLive Most popular one was SEFE of course
[Apr 22, 2012 8:09:42 PM EDT] InvestorsLive QUESTION: 1. How do you think the fact that SEFE has already been pumped for several weeks will affect the rest of the pump, if at all? 2. Since SEFE officially confirmed around 1.68, where do u think is the sweet spot for the first big dip like we see in all these promos. 2.50ish ? 3. Can we cover SEFE, the evolution of this pump, what we can learn from it so far, and your plans to trade it now that its officially being promoted?
[Apr 22, 2012 8:10:12 PM EDT] InvestorsLive ANSWER: Merged these three questions together – we pretty much assumed SEFE was them from day one given the budget I had found and posted around .82-.83 cents when it first hit my accumulation scan again with good $$ volume. Also some early hints and ties that people had posted around the message board and twitter space – but yes finally ‘confirmed’ it was actually confirmed earlier in the day when they uploaded it to their website and many of the new sites they are advertising on are very similar anyway.
[Apr 22, 2012 8:10:54 PM EDT] InvestorsLive SEFE has already proven to be very liquid and trade very well I would just trade it accordingly ie: trade the dips sell the rips hold a core BUT if unfamiliar with pumps I would avoid in its entirety. SEFE has already been being ‘officially’ promoted for a few weeks now, as I say over and over again if you google search ‘hot stocks’ and sign up to everything you can always be on the latest and greatest list and see who is advertising, paying the most for leads etc. Not only that but it’s been in Forbes, USA Today as advertisements which we’ve already discussed so Friday was just a day for those who weren’t already in or trading it to finally have a reason to buy (good thing we were on it early!)
[Apr 22, 2012 8:11:24 PM EDT] InvestorsLive My plans will be to try to keep a core as long as things continue to look well, I highly doubt they’d want to come out to their list on day 1 and have it be junk. My assumption would be $1.80 area controlled gap … and strong move out of the gate towards a $2 magnet these promoters love to sell but they also are not afraid to buy back – the bids are always liquid, they always eat (obviously until the music stops) but my point is they’ll probably sell a ton out of the gate, let it dip buy it all back and rip it back up towards highs and keep doing that until it doesn’t work.
[Apr 22, 2012 8:12:14 PM EDT] InvestorsLive I feel like people get way to caught up in understanding how promotions work or trying to be a promotion pro and think you know it all and focus less on hey .. the stock is trading, the stock is liquid, its being pump trade accordingly
[Apr 22, 2012 8:12:25 PM EDT] mylifesaver Is that pretty much what is happenin with SNPK? rip it up and then sell it down to 80 cents and back up again?
[Apr 22, 2012 8:12:57 PM EDT] InvestorsLive well just like another assumption that the ‘dump’ is all the promoters selling out – its just when they pull support
[Apr 22, 2012 8:13:10 PM EDT] InvestorsLive just like SNPK, it was rollin’ then got top heavy rather than buy it all back at the top
[Apr 22, 2012 8:13:15 PM EDT] InvestorsLive let it drop buy it back lower
[Apr 22, 2012 8:13:18 PM EDT] InvestorsLive rip it back and keep it going
[Apr 22, 2012 8:13:33 PM EDT] spazztrader %%%% I havee to go ;( family stuff Will this be ready tonight nate to review
[Apr 22, 2012 8:13:53 PM EDT] rocesboy has any brokers had shares of snpk or sefe to short?
[Apr 22, 2012 8:13:54 PM EDT] TomasBos since we are talking SEFE … a question for the room … is anybody able to trade sefe through Suretrader ?
[Apr 22, 2012 8:13:59 PM EDT] spazztrader never missed a seminar 🙁
[Apr 22, 2012 8:14:11 PM EDT] InvestorsLive of course Tomas
[Apr 22, 2012 8:14:30 PM EDT] TomasBos hmmm, I am not able to get a quote when I enter the ticker …
[Apr 22, 2012 8:14:37 PM EDT] TomasBos thats why I was asking
[Apr 22, 2012 8:14:43 PM EDT] InvestorsLive prob cuz u cheaped out on quotes 😉
[Apr 22, 2012 8:14:55 PM EDT] Praetor i had the same prob. need level 1
[Apr 22, 2012 8:14:59 PM EDT] InvestorsLive get OTC/Pinks or you won’t see it
[Apr 22, 2012 8:15:03 PM EDT] InvestorsLive so the short answer to the question – “how will I trade it now that it’s a promotion”
[Apr 22, 2012 8:15:12 PM EDT] InvestorsLive answer: it’s been a promotion and no different than I have been
[Apr 22, 2012 8:15:18 PM EDT] InvestorsLive each day I’ve played any of the washouts
[Apr 22, 2012 8:15:21 PM EDT] torntech weird. I have Suretrader without level 1 and I can see SNPK and SEFE
[Apr 22, 2012 8:15:26 PM EDT] InvestorsLive including Friday, so check logs – each day we’ve nailed bottom
[Apr 22, 2012 8:15:41 PM EDT] InvestorsLive so that’s that – any further questions related to this question?
[Apr 22, 2012 8:15:56 PM EDT] Praetor like il says need otc/pinks enabled on the account
[Apr 22, 2012 8:16:01 PM EDT] corkss great info
[Apr 22, 2012 8:16:01 PM EDT] TomasBos I mean, on the part where u enter the stock u wanna trade on the website … not a platform or something … the page after login at the bottom … never get a quote for SEFE so I can enter an dorder
[Apr 22, 2012 8:16:21 PM EDT] rocesboy is there a way to determine when it starts being topheavy
[Apr 22, 2012 8:16:25 PM EDT] TomasBos thanks torntech … good to know
[Apr 22, 2012 8:16:30 PM EDT] rocesboy in anticipation of a pull of support
[Apr 22, 2012 8:16:34 PM EDT] InvestorsLive yea flat line, back side of promo, double top etc
[Apr 22, 2012 8:16:46 PM EDT] InvestorsLive don’t; be greedy take profits into big moves
[Apr 22, 2012 8:16:54 PM EDT] InvestorsLive late day fade
[Apr 22, 2012 8:17:20 PM EDT] InvestorsLive just like SNPK .. who is really going to just be buying any and every dip at $2, you gotta be nuts stock is up huge at some point you have to start thinking risk vs. reward
[Apr 22, 2012 8:17:22 PM EDT] InvestorsLive and is it really worth it
[Apr 22, 2012 8:17:46 PM EDT] InvestorsLive SEFE I had mentioned the consolidation and the wicks on the candles you could see cleaning out the sellers in the mid 1.20-1.30 level
[Apr 22, 2012 8:17:49 PM EDT] InvestorsLive building a new base
[Apr 22, 2012 8:17:52 PM EDT] InvestorsLive thus a move higher
[Apr 22, 2012 8:18:01 PM EDT] InvestorsLive had writen that on scan – thats the stuff u look for healthy consolidation
[Apr 22, 2012 8:18:11 PM EDT] InvestorsLive any other questions related to SEFE and this question
[Apr 22, 2012 8:18:43 PM EDT] InvestorsLive QUESTION: Can you explain a little more about why the accumulation scan works? I’m assuming that it is the promoters-to-be themselves that are actually accumulating prior to pumping the stock, and then they sell into the kool-aid drinkers after the pump has begun? Is this correct? Then how does a pump like SNPK work? The promoters obviously didn’t have time to accumulate shares before the promotion started (or did they?). Where did they receive shares?
[Apr 22, 2012 8:19:01 PM EDT] InvestorsLive ANSWER: I’m not sure why people make up assumptions and then believe them to be true which then clouds their judgment on trading and what to do. Promoters have stock to sell, they don’t just buy stock before you in the open market and then just sell it to you – they pay hundreds of thousands and many times millions (in the case of AwesomePennyStocks and Co) for leads. They released it to their list and it was game on from there. They take the companies public, convert debt at a cheap price do forward splits etc and make a small amount of shares become a bunch and then promote it. I would worry less about what THEY are doing and how, when, where and why as it’s not going to help you trade them, just focus on the fact that they make great trading opportunities and many times we nail them right away. Accumulation scan is on the new member page under the EquityFeed seminar it’s basically showing stocks that meet minimum volume parameters (ie: liquid enough to discuss in the room and not get stuck in due to hardly having a market) and most the volume is on the offer – aka more buying than selling + near or at HODs + a positive price trend.
[Apr 22, 2012 8:19:59 PM EDT] InvestorsLive Accumulation scan is scanning for where the $$ is, where the money is consistently hitting offers, w/ parameters in place that only provides me with stocks that are liquid
[Apr 22, 2012 8:20:07 PM EDT] InvestorsLive I get PMs a lot asking what about XYZ and it has like 45k volume
[Apr 22, 2012 8:20:23 PM EDT] InvestorsLive sure, it keeps going but what are you really here for? To take a guess and hope it keeps going or to trade?
[Apr 22, 2012 8:20:27 PM EDT] yanks080602 Where do you do your accumilation scan. Finviz?
[Apr 22, 2012 8:20:38 PM EDT] yanks080602 sorry nvm just read equity feed
[Apr 22, 2012 8:20:40 PM EDT] mylifesaver IL question related to accumulation scan…how do you use volume and indicators if any to “predict” a upcoming parabolic? Last week bbstock called one and I could not figure out how he was able to see this. Please share any tips or info that you use. Thank you
[Apr 22, 2012 8:20:41 PM EDT] InvestorsLive no, EquityFeed scans
[Apr 22, 2012 8:21:14 PM EDT] InvestorsLive probably the easiest answer is LQMT
[Apr 22, 2012 8:21:22 PM EDT] InvestorsLive just look at that day T530 had alerted in the AM …
[Apr 22, 2012 8:21:35 PM EDT] InvestorsLive consolidated all day
[Apr 22, 2012 8:21:41 PM EDT] InvestorsLive started coming back up on the accum scan … A B C D set up
[Apr 22, 2012 8:21:50 PM EDT] InvestorsLive thats when is aid watch for EOD move at like .199
[Apr 22, 2012 8:21:57 PM EDT] InvestorsLive busted .20 and closed like .235 or whatever
[Apr 22, 2012 8:22:04 PM EDT] InvestorsLive next day gapper … that’s what I use it for
[Apr 22, 2012 8:22:16 PM EDT] InvestorsLive look for text book set ups on the intraday chart
[Apr 22, 2012 8:22:26 PM EDT] InvestorsLive or new issues, like RSRS that it found mid .80s
[Apr 22, 2012 8:22:49 PM EDT] InvestorsLive all offers getting smacked … started to rip… near $1 then everyone starts buying on rumors etc .. but there was heavy accum and thats what my scan finds
[Apr 22, 2012 8:23:41 PM EDT] InvestorsLive last one on OTCs – then more nasdaq stuff figured I’d knock them all out together
[Apr 22, 2012 8:23:43 PM EDT] InvestorsLive QUESTION: SNPK dump and bounce was crazy. I’m wondering why you didn’t play that 2nd bounce (off 75 cents) with more size? I know some members like ModernRock banked huge, but you played relatively small. Isn’t that why you were watching it day after day? Looking to bounce that 50%+ drop?
[Apr 22, 2012 8:23:48 PM EDT] InvestorsLive ANSWER: I did play the bounce off .75 cents I alerted both entries as risky at .755 which ended up being bottom each time. I haven’t played the bounces on these very large since AMWI, they are trick many times and you really never know what their true game plan is … I’d rather just make a nice $1400 off the lows not risking much like I did rather than be .10 early and lose $5-10k – just look at the first time SNPK dropped before this last one if you remember it did 2 fake bounces and then the bottom fell out … I should, could, would do better on the bounces but for whatever reason I just haven’t liked their bounces recently. I like to play them on the way up not on the back end.
[Apr 22, 2012 8:24:44 PM EDT] InvestorsLive SNPK I didn’t play the first bounce at 1.20 because I was expecting .60-70s like I had said early, I know where they can dump to .. we’ve seen it before .. I’d rather miss out on the first bounce given some recent bounces latley (STVF, SNPK the first time etc)
[Apr 22, 2012 8:26:00 PM EDT] InvestorsLive QUESTION: How can I better determine when it is time to exit a trade or when it is time to hold thru a little bounce/dip against me? Anything I should be looking for in order size, L2, volume etc. Thanks in advance
[Apr 22, 2012 8:26:08 PM EDT] InvestorsLive ANSWER: What you look at is up to you, I use Level 2, Time and Sales and Chart. No, no reason to look for a specific bid size as you, me or anyone could put a big bid and pull it seconds later …. it’s very easy to be manipulated. The most important part is having a plan. This week so many of you PMed me asking me where to sell things, what to do etc on gains and losses and I asked “What was your plan,” or “What was your mental stop loss going into the trade?” and most had no plan, my question to you is – how can you trade without a plan? The way I judge my entries is off gearing/perking for a long off consolidation or some form of support. Secondly, for a short it’s based on parabolic action or a late day fade – all three of these are covered in the ‘how to trade the chat room’ PowerPoint I said to read for tonight – if confused or any questions do ask but what it comes down to is a game plan.
[Apr 22, 2012 8:27:18 PM EDT] InvestorsLive QUESTION: How do you judge risk of a stock? For example, penny pump/dump (SNPK) very high risk, low floats high risk, NASDAQ medium risk?
[Apr 22, 2012 8:27:29 PM EDT] InvestorsLive ANSWER: No, I don’t judge risk of a penny stock pump and dump differently than that of a NASDAQ. As I tell people if you are new and unfamiliar with pumps then yes, the risk is high because chances are you’ll buy and start reading about the stock, all the email pumps and start believing .. which they are very good at doing – soon enough you’ll be drinking the kool-aid too and not sell and end up with a bag hold for life.
[Apr 22, 2012 8:27:55 PM EDT] InvestorsLive For me risk is determined the same across every stock – Whether it’s Nasdaq or OTC I don’t trade illiquid stocks or choppy stocks so there is always a trend, former support area, resistance LOD, HOD to go into a stock with a plan. If the range is higher obviously I will play smaller with a wider stop, if it’s trading many more shares and moves a lot less actively than I will play with more shares. The example I had used last time was BVSN vs. MSFT two similarly priced stocks but BVSN has massive range, you could not play 5-10k shares BVSN long as you would on MSFT or something like SIRI and SGOC Friday. Take a look at the range, how it’s trading .. if it typically moves .05-.10 up and down while trending than you don’t want to go in a stock with a .03 cent stop.
[Apr 22, 2012 8:28:15 PM EDT] InvestorsLive I’ll wait a sec and let me know if questions on this one
[Apr 22, 2012 8:29:45 PM EDT] InvestorsLive any questions related?
[Apr 22, 2012 8:29:58 PM EDT] Rob O none here.
[Apr 22, 2012 8:30:24 PM EDT] InvestorsLive QUESTION: Nate, could you explain how you get in and out of low floaters like the ones that were in play recently ? please explain your execution process ( how do you deal with the wider spread ? ) thanks
[Apr 22, 2012 8:30:27 PM EDT] InvestorsLive ANSWER: It’s no different than anything else, but I would definitely suggest adding liquidity, ie: buying bids, selling offers because many times you’ll get the best prices since they’re thin and may rip in one direction or the other rather quickly. Dealing with wider spread is easy to combat just play smaller, you can’t play the same size as I said above re: BVSN and MSFT or SIRI and SGOC. Same concept. Use .50s and $1 dollar marks as guides, many times they’ll act as magnets, if you’re short leave yourself room to add if it wants to test towards a .50 mark like SGOC on Friday – breaks 2.50 squeezes and many times comes right back under. Same thing with GTIM that day $3 over/under make a plan and size in accordingly around whole numbers and half dollar marks.
[Apr 22, 2012 8:31:02 PM EDT] InvestorsLive many times low floaters will move in one direction and then just rip on air, because idiots who want 5k shares and use a market order….
[Apr 22, 2012 8:31:22 PM EDT] InvestorsLive paying attention and having an order set way up there once it starts to gear/perk or break prior highs …
[Apr 22, 2012 8:32:03 PM EDT] InvestorsLive many times you can capture a nice exit because everyone is covering/buying the breakout/adding etc and between that and market buys you might see it spike a quick .20-.30 cents and then pull right back .20 so having some out there is always good
[Apr 22, 2012 8:32:17 PM EDT] InvestorsLive I find myself adding liquidity much more often on low floaters vs. stuff like RENN LCC etc
[Apr 22, 2012 8:32:34 PM EDT] InvestorsLive any questions related?
[Apr 22, 2012 8:33:12 PM EDT] wiswingstocks Do you always place a sell right after a buy for say half your play at some amount?
[Apr 22, 2012 8:33:38 PM EDT] InvestorsLive no not always but most my brokers are DAS Trader so it’s only a click away
[Apr 22, 2012 8:33:43 PM EDT] InvestorsLive to put a sell out there – so quick
[Apr 22, 2012 8:33:54 PM EDT] InvestorsLive if it starts to set up .. I have finger on trigger anyway
[Apr 22, 2012 8:34:11 PM EDT] InvestorsLive that’s why on Friday I had like 6 positions all small and I was like WTF am I doing ..
[Apr 22, 2012 8:34:13 PM EDT] gravy55 do you recommend showing or hiding offers?
[Apr 22, 2012 8:34:17 PM EDT] InvestorsLive usually only like to have 2-3 at a time ha
[Apr 22, 2012 8:34:30 PM EDT] InvestorsLive gravy55 – yes hiding size is good thing especially on low floaters
[Apr 22, 2012 8:34:36 PM EDT] wiswingstocks okay, that makes sense…I just got setup with speed and see how that can work…not so easy with Fidelity
[Apr 22, 2012 8:34:40 PM EDT] InvestorsLive if you’re trading more than 500-1k shares that is
[Apr 22, 2012 8:34:50 PM EDT] InvestorsLive doesnt really matter if less …
[Apr 22, 2012 8:35:05 PM EDT] InvestorsLive but always easier to not ‘kill’ the momentum when you show 100 shares and surprise people with 10k there
[Apr 22, 2012 8:35:13 PM EDT] InvestorsLive vs. showing 10k shares and having some1 undercut you by .01
[Apr 22, 2012 8:35:31 PM EDT] gussywussy on a low floater, when someone shows size how often would you say that it is real?
[Apr 22, 2012 8:35:37 PM EDT] gravy55 even 1k on a small float scare some peeps
[Apr 22, 2012 8:36:06 PM EDT] InvestorsLive gussy – I don’t know, the answer isn’t going to help you any, take a guess
[Apr 22, 2012 8:36:16 PM EDT] InvestorsLive could be real, could be someone propping .. could be anything
[Apr 22, 2012 8:36:27 PM EDT] InvestorsLive that’s why you can’t just watch level 2 but focus on charts, momentum and the whole thing
[Apr 22, 2012 8:37:06 PM EDT] InvestorsLive QUESTION: Any suggestion how to fill limit order on stock which are highly volatile in a minute? For example, I tried cover MLNX s/s for profit 2 times with limit order but price jumped too much in sec. I know there other stocks (like maybe SINA, SHLD, MCP) which have large variation with second where you either get gain or loss.
[Apr 22, 2012 8:37:14 PM EDT] InvestorsLive ANSWER: MLNX you probably waited for it to turn, why not just put a bid in lower as it’s coming down and add liquidity and cover on the bid side as it drops. That’s more about being proactive on the trade – as you see me .. many times I’m buying bids (into washouts) and selling offers (into pops).
[Apr 22, 2012 8:37:35 PM EDT] InvestorsLive Sorta like OTCs always better to sell when everyone wants it, cuz once everyone doesn’t want it …good luck filling
[Apr 22, 2012 8:37:59 PM EDT] InvestorsLive good habit to get into
[Apr 22, 2012 8:38:10 PM EDT] InvestorsLive sure, you can always say “ugh I left money on the table” etc etc but
[Apr 22, 2012 8:38:11 PM EDT] sfk10 so you sometimes places orders before the turn?
[Apr 22, 2012 8:38:22 PM EDT] InvestorsLive fact is, you’re here b/c you want to make money – you don’t go broke locking in
[Apr 22, 2012 8:38:48 PM EDT] InvestorsLive always take some off when you nail it and everyone wants it and it’s popping huge, can’t go wrong, worst case you leave some profits on table
[Apr 22, 2012 8:39:14 PM EDT] InvestorsLive sfk10 – like I said above u see me selling into pops and covering into washouts
[Apr 22, 2012 8:39:14 PM EDT] gravy55 whats ur feeling on trailing stops?
[Apr 22, 2012 8:39:39 PM EDT] InvestorsLive so that’s before it ‘turns’ if you’re saying a parabolic and then pull back as the “turn”
[Apr 22, 2012 8:39:51 PM EDT] InvestorsLive gravy55 – I don’t have a feeling use them if you want..
[Apr 22, 2012 8:40:09 PM EDT] Laura I play higher priced stocks, so love trailers when I am up nice.
[Apr 22, 2012 8:40:42 PM EDT] InvestorsLive especially if more than one position
[Apr 22, 2012 8:40:46 PM EDT] InvestorsLive you can set it and forget it
[Apr 22, 2012 8:40:49 PM EDT] Laura yup
[Apr 22, 2012 8:40:54 PM EDT] InvestorsLive but depends if you have a lot of trades .. or just a few
[Apr 22, 2012 8:41:02 PM EDT] Laura or gonna be AFK for awhile
[Apr 22, 2012 8:41:02 PM EDT] InvestorsLive most times i have no patience, not something I use
[Apr 22, 2012 8:41:41 PM EDT] InvestorsLive QUESTION: What was plan for ECYT today (Friday Apr. 20th)? I could see initial red/green when I entered as long signal. But after it went red it looked like clear fade so I exited before you.
[Apr 22, 2012 8:41:49 PM EDT] InvestorsLive ANSWER: The plan was the same as what I wrote on scan Thursday, I felt it has been consolidating and IF it held trend there was a good chance it would go red/green and could squeeze into the weekend. I extended my loss since I was up nicely on the morning so it looked worse than it was … but my plan was to go long risking to 7.50s – ideally I wanted the trade 2-3PM + with a red to green move. The stock has been consolidating higher and it’s either going to squeeze to more highs or fade off the map, it’s a lot like HEAT.
[Apr 22, 2012 8:43:17 PM EDT] InvestorsLive QUESTION: Today (Friday), I seemed to be reading MLNX pretty well. If had taken my s/s or long ideas I would been green today. But held back to fear of crazy MLNX running other way like Thursday. Should I have just calmly taken these MLNX trades or maybe a dose of fear of trading MLNX is good here.
[Apr 22, 2012 8:43:19 PM EDT] InvestorsLive ANSWER: That’s hindsight, you didn’t take it so you can’t play the “should I have” type game. The answer is simple, trade a plan. MLNX wasn’t a bad trade on Thursday for me had I just stopped out for my typical loss, instead I even wrote in chat ‘DON’T JUST HOLD BECAUSE OF ME, I BROKE A RULE OR TWO AND AM PAYING FOR IT’ very easily avoidable, I did that to myself – each time I warned in chat I should have just covered. The only bad trade is not sticking to a plan. You can’t always be right, but you can control your losses.
[Apr 22, 2012 8:44:10 PM EDT] InvestorsLive any questions related
[Apr 22, 2012 8:44:56 PM EDT] rocesboy IL do you ever use rsi ot test top heavy
[Apr 22, 2012 8:45:02 PM EDT] rocesboy mlnx was topping at 88
[Apr 22, 2012 8:45:04 PM EDT] rocesboy on thurs
[Apr 22, 2012 8:45:09 PM EDT] InvestorsLive no that’s all hindsight
[Apr 22, 2012 8:45:20 PM EDT] InvestorsLive apply RSI to SNPK
[Apr 22, 2012 8:45:25 PM EDT] InvestorsLive or SEFE
[Apr 22, 2012 8:45:29 PM EDT] InvestorsLive and miss out on a double
[Apr 22, 2012 8:46:17 PM EDT] InvestorsLive some people swear by it but in momentum trading its useless
[Apr 22, 2012 8:46:18 PM EDT] InvestorsLive imo
[Apr 22, 2012 8:46:28 PM EDT] InvestorsLive most of the break outs occur in ‘top heavy’ conditions
[Apr 22, 2012 8:46:46 PM EDT] InvestorsLive one thing related to that last question ..
[Apr 22, 2012 8:47:10 PM EDT] InvestorsLive some days I see people in chat if I have a short or a long on … they’ll wait for me to cover or sell if I say I’m going to risk a bit more given my day…
[Apr 22, 2012 8:47:27 PM EDT] InvestorsLive for example if I make a quick $3k and decide to give it some more wiggle room instead of stopping out for -$300 .. give it $500+ room
[Apr 22, 2012 8:47:33 PM EDT] InvestorsLive but yet they’ve mad no trades and have no padding
[Apr 22, 2012 8:47:49 PM EDT] InvestorsLive trade goes down, I stop for more of a loss and they end up eating sh*t b/c they had no padding to begin with
[Apr 22, 2012 8:48:22 PM EDT] InvestorsLive gotta break that – again the most important thing is sticking to your plan
[Apr 22, 2012 8:48:34 PM EDT] InvestorsLive don’t make it a loss bigger than you planned
[Apr 22, 2012 8:48:52 PM EDT] InvestorsLive QUESTION: On some of your trades i see you using very wide stops (planned stops, not finally realized stops). For example today (friday 4/20): RENN entry around 7.17 (risk to around 7.50) , TISA entry 5.20 (sl 5.00), ECYT 7.7 (sl 7.5). This wide stops must give you bigger risk than reward on most of your trades. If I am wrong, could you explain please?
[Apr 22, 2012 8:49:15 PM EDT] InvestorsLive ANSWER: If you play the same size on every trade then yes it’d be bigger risk on certain trades, but if I’m doing a quick scalp or trying to start into a play for later to let it run and not watch it every second than I will be trading accordingly. For example: TISA was a chase so I played small risking to $5 – $200 bucks just in case it continued to slowly inch and break out towards highs I wouldn’t have to watch it every second – ECYT I was starting in, that’s not a wide stop you can’t trade these stocks that have high range and expect to only risk 5 cents. You’ll stop out of the trade before it has a chance to go – wider ranging stocks have wider stops.
[Apr 22, 2012 8:50:13 PM EDT] InvestorsLive QUESTION: When you refer to “houses money” what does that mean?
[Apr 22, 2012 8:50:19 PM EDT] InvestorsLive ANSWER: On big range stocks many times I’ll start trading the dips and rips, short cover dip, short cover dip around a core short to build up a realized gain and give it a chance since I know it’s going to head down … but still could have more upside. It’s a way of reducing risk for your core short. Additionally, my trading is relative to how my day is going – if I am up a lot I’ll start to widen stops a little bit or play bigger risking a bit more – sometimes it works sometimes it doesn’t. Most times it’s for the better, I look at my MLNX loss, yes … avoidable but at the same time I was pressing, I was up massively for the month and every other day that week I had been pressing just as hard, harder than I would if I was just up $500 each day … I was using houses money much like at a casino, you’re not going to go out and start betting $300 a hand but rather start maybe $25-50 or $100 … and then as you build up houses money let’s say you’re up $1000-1500 sure you’ll throw $300 on a double down, why? Because if you lose you’re still up
[Apr 22, 2012 8:51:42 PM EDT] InvestorsLive any questions related?
[Apr 22, 2012 8:51:45 PM EDT] InvestorsLive make sense
[Apr 22, 2012 8:52:04 PM EDT] GaryJPalys yep
[Apr 22, 2012 8:52:16 PM EDT] InvestorsLive QUESTION: Nate, have heard you mention that ‘routes are locked’ on certain stocks (SNPK and FONR recently come to mind). What does that mean? What does it indicate? How important is it? Crucial or just something to be aware of?
[Apr 22, 2012 8:52:21 PM EDT] InvestorsLive ANSWER: FONR I wouldn’t have said that, it’s a NASDAQ. Routes being locked is the inability to sell or buy …. due to too much demand. Take for example trying to buy SNPK on the first day it came out you may have put buys in at .31, .32, .33, .34 etc … but didn’t fill because there is so much bent up demand all the routes are ‘locked’ and your orders aren’t filling. Or, take for example SNPK coming down you try to hit the bid there’s no way you’re filling .. until the bottom $1.89-1.90 bounce for a quick minute and then came back and tested $1.89 and snapped and immediately went down all the routes are locked to the downside, hundreds of people all trying to do the same thing at once, market sells, MMs hitting bids lower etc.
[Apr 22, 2012 8:53:53 PM EDT] InvestorsLive any questions?
[Apr 22, 2012 8:53:59 PM EDT] InvestorsLive related
[Apr 22, 2012 8:54:18 PM EDT] Speedtrader_Craig im out , thanks guys
[Apr 22, 2012 8:54:18 PM EDT] -war- maybe also touch on “holding orders” re: NITE last week
[Apr 22, 2012 8:54:31 PM EDT] InvestorsLive good thought -war
[Apr 22, 2012 8:54:32 PM EDT] GaryJPalys Have a good one Craig
[Apr 22, 2012 8:54:39 PM EDT] InvestorsLive see that’s why -war is good
[Apr 22, 2012 8:54:41 PM EDT] InvestorsLive gets it
[Apr 22, 2012 8:54:53 PM EDT] InvestorsLive I’ll warn in chat about NITE Holding orders whenever it happens ..
[Apr 22, 2012 8:54:57 PM EDT] InvestorsLive AWSR … SNPK etc
[Apr 22, 2012 8:55:00 PM EDT] Speedtrader_Craig thanks guys………..
[Apr 22, 2012 8:55:11 PM EDT] InvestorsLive when things are really active …. or getting sketchy tanking etc
[Apr 22, 2012 8:55:19 PM EDT] InvestorsLive sometimes NITE can take 10-15 seconds to cancel an order
[Apr 22, 2012 8:55:37 PM EDT] InvestorsLive as soon as you notice that … be careful especially if taking on a risky bounce play or anything
[Apr 22, 2012 8:55:59 PM EDT] InvestorsLive because fact is this
[Apr 22, 2012 8:56:02 PM EDT] Praetor been seeing that a lot on snpk and a few others
[Apr 22, 2012 8:56:07 PM EDT] InvestorsLive if you put in order in
[Apr 22, 2012 8:56:11 PM EDT] InvestorsLive and it looks to reverse
[Apr 22, 2012 8:56:16 PM EDT] InvestorsLive and oyu want to pull your bid
[Apr 22, 2012 8:56:20 PM EDT] InvestorsLive .. guess what .. you’re filling
[Apr 22, 2012 8:56:48 PM EDT] corkss been there before
[Apr 22, 2012 8:56:57 PM EDT] InvestorsLive so that’s why I warn about it
[Apr 22, 2012 8:56:58 PM EDT] GaryJPalys me too
[Apr 22, 2012 8:57:07 PM EDT] InvestorsLive just in case you guys are thinking about buying .. and then you’re like well…..
[Apr 22, 2012 8:57:13 PM EDT] InvestorsLive maybe not .. cuz it can be scary
[Apr 22, 2012 8:57:27 PM EDT] InvestorsLive you might have 2-3 orders in .. a bid and a couple offers and decide .. nah forget it .. and then get stuck
[Apr 22, 2012 8:57:40 PM EDT] InvestorsLive any further questions related to NITE/locked routes etc
[Apr 22, 2012 8:58:29 PM EDT] InvestorsLive QUESTION: On Wednesday, Trader530 came up with HAUP news and right after that you shorted. Could you explain why you did that because I was thinking of going long since the news was positive?
[Apr 22, 2012 8:58:35 PM EDT] InvestorsLive ANSWER: Half the battle of trading is knowing former runners, if you were in the room for the past week you probably remember this just ripped from $1 to $1.80 just last week …. however it had since sat back down. The stock has a lot of bag holders in it now which my thought process was ok more news came out .. it jumped up rather quickly on not too much volume …. there wasn’t much of a follow through figured risk was $1.50 (given that we just traded this stock a week before the chart is fresh in my mind ie: former runner) and thought the risk vs. reward was in my favor. It has a history of pops and drops take a look at the following chart http://bit.ly/HXZ5EH
[Apr 22, 2012 8:59:36 PM EDT] Praetor Good point
[Apr 22, 2012 9:00:38 PM EDT] Laura Couple reasons that Muddy‘s early calls are important is he knows tons of former runners, and he pays attention to the Momo/Pre lists matches.
[Apr 22, 2012 9:00:52 PM EDT] InvestorsLive speaking of
[Apr 22, 2012 9:00:56 PM EDT] InvestorsLive last question:
[Apr 22, 2012 9:01:01 PM EDT] InvestorsLive How exactly do you read Muddy‘s messages? On Friday he stated SPU 1.90, does it mean that it is a buy? the stock did go up after
[Apr 22, 2012 9:01:26 PM EDT] InvestorsLive Muddy very good at posting known runners, and finding them quickly – no doesn’t just mean buy…
[Apr 22, 2012 9:01:52 PM EDT] InvestorsLive what it comes down to is a) how’s chart look b) how early are you and c) has it been a while since it’s ran
[Apr 22, 2012 9:02:00 PM EDT] InvestorsLive sometimes its ok to let it rip and then look for a pull back entry
[Apr 22, 2012 9:02:00 PM EDT] Laura and HAUP, sometimes runs like a biatch
[Apr 22, 2012 9:02:08 PM EDT] Laura most times fakes you out
[Apr 22, 2012 9:02:11 PM EDT] InvestorsLive sometimes they rip right up and then sit right back and are done
[Apr 22, 2012 9:02:11 PM EDT] InvestorsLive yep
[Apr 22, 2012 9:02:16 PM EDT] InvestorsLive HAUP last week was $1 to $1.80
[Apr 22, 2012 9:02:19 PM EDT] InvestorsLive huge
[Apr 22, 2012 9:02:24 PM EDT] InvestorsLive follow up, nothing
[Apr 22, 2012 9:02:31 PM EDT] Laura right
[Apr 22, 2012 9:02:40 PM EDT] Laura that’s the power of knowing formers
[Apr 22, 2012 9:02:52 PM EDT] InvestorsLive so its more about applying the knowledge of ‘set ups’ we cover
[Apr 22, 2012 9:02:55 PM EDT] InvestorsLive entry/exits etc
[Apr 22, 2012 9:03:00 PM EDT] InvestorsLive when and why I’d buy …
[Apr 22, 2012 9:03:03 PM EDT] InvestorsLive gearing/perking
[Apr 22, 2012 9:03:04 PM EDT] InvestorsLive etc
[Apr 22, 2012 9:03:26 PM EDT] InvestorsLive last but not least since I get some questions sometimes …
[Apr 22, 2012 9:03:31 PM EDT] InvestorsLive ‘what does gap fill mean’ on scan
[Apr 22, 2012 9:03:32 PM EDT] InvestorsLive Gap Fill: http://goo.gl/5MffG
[Apr 22, 2012 9:03:49 PM EDT] InvestorsLive I had wrote last week I said this thing keeps getting sold off it looks like it wants to fill theg ap
[Apr 22, 2012 9:03:56 PM EDT] InvestorsLive many times stocks go back and fill gaps
[Apr 22, 2012 9:04:00 PM EDT] InvestorsLive this is what that means
[Apr 22, 2012 9:05:56 PM EDT] InvestorsLive any other questions guys?
[Apr 22, 2012 9:06:10 PM EDT] -war- thanks as always
[Apr 22, 2012 9:06:15 PM EDT] corkss good stuff
[Apr 22, 2012 9:06:16 PM EDT] 2ndTimeAround Do you have a scan you run looking for gearing per se, or do you scan for the momos and then check charts for gearing action?
[Apr 22, 2012 9:06:16 PM EDT] wiswingstocks Just to give us newbs a little perspective on what it takes to get to where the career daytraders like you are. 1. How long have you been trading? 2. Did you always trade size or did it take you a while to build your bankroll? 3. How long were you at this before you felt you were successful? 4. Points for those with smaller accounts? 1-2 % on a 2k trade barely seems worth it.
[Apr 22, 2012 9:06:30 PM EDT] Robyn Nate. thank you
[Apr 22, 2012 9:06:45 PM EDT] InvestorsLive 2ndTimeAround – no .. gearing/perking just the text book action you look for that we cover and show over and over that have the ‘look’
[Apr 22, 2012 9:07:25 PM EDT] corkss i’ve learned recognizing patterns helps me a lot, ABCD opened my eyes a lot, thanks
[Apr 22, 2012 9:08:06 PM EDT] InvestorsLive wiswing – 1. 2003+ 2. no, I don’t even trade size most times now just when I’m on hot fire like the casino example .. I slowly roll up .. each month usually start fresh and by end of the month I’m swinging big … 3. 6 months …. 4. I don’t trade %s I trade based on risk at hand … I never look at %
[Apr 22, 2012 9:08:09 PM EDT] dthmiser is the ABCD pattern primarly applicable to momentum stocks only
[Apr 22, 2012 9:08:16 PM EDT] -war- 2nd time, look at the stocks that are in play in the morning, then keep an eye on them. You’ll see what action happens when IL says “xyz gearing”. Likely that stock was in play earlier on in the day
[Apr 22, 2012 9:08:42 PM EDT] wiswingstocks thx!
[Apr 22, 2012 9:08:43 PM EDT] InvestorsLive ABCD is best on bullish momentum, going back for HODs not really LODs but
[Apr 22, 2012 9:08:55 PM EDT] InvestorsLive if it sets up red/green perk off consolidation + ABCD set up
[Apr 22, 2012 9:08:57 PM EDT] InvestorsLive very nice
[Apr 22, 2012 9:09:03 PM EDT] rocesboy you mention “textbook” a lot but are there any real books to help with recognizing known chart pattenrs than you’d recommend
[Apr 22, 2012 9:09:20 PM EDT] InvestorsLive correct -war per ‘gearing’ action usually has the RANGE we look for
[Apr 22, 2012 9:09:24 PM EDT] InvestorsLive key is trading stocks with range
[Apr 22, 2012 9:09:33 PM EDT] dthmiser maybe a better way to put it is smaller caps vs larger caps
[Apr 22, 2012 9:09:47 PM EDT] InvestorsLive rocesboy – text booK I am referring to the charts listed on the seminar I told everoyne to read before tonight on the seminar prep page
[Apr 22, 2012 9:09:50 PM EDT] InvestorsLive text book set ups
[Apr 22, 2012 9:10:20 PM EDT] InvestorsLive not sure what ur saying dthmiser
[Apr 22, 2012 9:10:35 PM EDT] InvestorsLive and like I said before the seminar – anyone know the best screen sharing software – go to meeting the best? any one actually use it regularly?
[Apr 22, 2012 9:10:35 PM EDT] dthmiser does it work better on small caps vs large caps for the moves your looking for
[Apr 22, 2012 9:10:38 PM EDT] rocesboy but do you have any recommendations for actual books to study
[Apr 22, 2012 9:10:52 PM EDT] Praetor Go2Meeting
[Apr 22, 2012 9:10:56 PM EDT] InvestorsLive dthmiser – can use on anything – really works well across all mostly momo tho
[Apr 22, 2012 9:11:05 PM EDT] dthmiser ty
[Apr 22, 2012 9:11:15 PM EDT] Derffie I use Teamviewer it has a presentation mode
[Apr 22, 2012 9:11:27 PM EDT] Rob O Nate, I use Gotomeeting at work and it works well. THere’s also join.me but not sure that’s good for multiple viewers
[Apr 22, 2012 9:11:41 PM EDT] corkss I use etrade pro
[Apr 22, 2012 9:11:53 PM EDT] InvestorsLive yea i saw the join.me
[Apr 22, 2012 9:12:03 PM EDT] InvestorsLive want something that I can change password, of authroize only so many people etc
[Apr 22, 2012 9:12:11 PM EDT] WinGit Webex is good too. have used it a lot for client meetings at work.
[Apr 22, 2012 9:12:14 PM EDT] InvestorsLive or better yet only X usernames
[Apr 22, 2012 9:12:15 PM EDT] InvestorsLive would be cool
[Apr 22, 2012 9:12:16 PM EDT] Rob O WebEx or GTM is probably your best bet
[Apr 22, 2012 9:12:39 PM EDT] Derffie Teamviewer you only invite who you want.
[Apr 22, 2012 9:13:03 PM EDT] InvestorsLive any back end whereI could import a database of names for example
[Apr 22, 2012 9:13:07 PM EDT] InvestorsLive and it has to be one of those
[Apr 22, 2012 9:13:11 PM EDT] InvestorsLive ie: any moderation
[Apr 22, 2012 9:13:51 PM EDT] -war- talk to Fous, I’ve heard he has a nice desktop sharing setup. I’m sure he tested some
[Apr 22, 2012 9:13:55 PM EDT] Praetor GTM does the same i believe Derffie
[Apr 22, 2012 9:14:19 PM EDT] Praetor kunal uses GTM… works fine that ive seen
[Apr 22, 2012 9:15:11 PM EDT] InvestorsLive yea
[Apr 22, 2012 9:15:24 PM EDT] InvestorsLive want to end up offering something like that with HOD list scans and some stuff
[Apr 22, 2012 9:15:31 PM EDT] InvestorsLive and then for these
[Apr 22, 2012 9:15:38 PM EDT] InvestorsLive office got started shouldn’t be long now
[Apr 22, 2012 9:15:42 PM EDT] Derffie Teamviewer lets you share multiple monitor setups…
[Apr 22, 2012 9:15:43 PM EDT] InvestorsLive before it’s all donea nd I’m organized
[Apr 22, 2012 9:15:57 PM EDT] InvestorsLive I’d probably only do a small portion b/c my monitors are too big for most
[Apr 22, 2012 9:16:06 PM EDT] InvestorsLive G2M allows you to select the area
[Apr 22, 2012 9:16:12 PM EDT] corkss can you please take apic of the office when done Nate?
[Apr 22, 2012 9:16:39 PM EDT] GaryJPalys Adobe Connect is freeware…
[Apr 22, 2012 9:16:41 PM EDT] -war- yeah, that would be fun looking at 2 30″ monitors on my 23″
[Apr 22, 2012 9:17:26 PM EDT] Rob O thanks for tonight, boss. goodnight everyone.
[Apr 22, 2012 9:17:35 PM EDT] Praetor hope you like using magnifier on your pc war lol
[Apr 22, 2012 9:17:52 PM EDT] InvestorsLive lol
[Apr 22, 2012 9:18:04 PM EDT] InvestorsLive yea corkss I’ll prob take a wide angle or something and put it on the site
[Apr 22, 2012 9:18:09 PM EDT] InvestorsLive will be pretty bad azz
[Apr 22, 2012 9:18:14 PM EDT] -war- scrolling……scrolling….scrolling….
[Apr 22, 2012 9:18:39 PM EDT] Praetor yup @war
[Apr 22, 2012 9:19:12 PM EDT] corkss Thats what I’m talking bout ::cool
[Apr 22, 2012 9:20:01 PM EDT] bvocal resolution is what matters on monitors… most are 1920 x 1080 now, no matter the inches
[Apr 22, 2012 9:21:56 PM EDT] GaryJPalys G’night peope!
[Apr 22, 2012 9:24:17 PM EDT] corkss sooo… I seen AAPL on da 50
[Apr 22, 2012 9:24:43 PM EDT] emthree When will this seminar be posted? I missed most of it
[Apr 22, 2012 9:26:16 PM EDT] Laura seminars usually posted next day sometime
[Apr 22, 2012 9:26:18 PM EDT] InvestorsLive prob in AM have to run the macro on it to bold it
[Apr 22, 2012 9:26:34 PM EDT] InvestorsLive ill post notes now
[Apr 22, 2012 9:27:26 PM EDT] InvestorsLive http://www.investorsunderground.com/2012/04/22/seminar-notes/
[Apr 22, 2012 9:27:29 PM EDT] InvestorsLive Ill post chat logs tomorrow
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