[Sun Feb 08 17:01:36 EST 2009] InvestorsLive Here’s how I do my scans:
[Sun Feb 08 17:01:46 EST 2009] InvestorsLive http://www.stockhouse.com
[Sun Feb 08 17:01:59 EST 2009] InvestorsLive Tools and Resources
[Sun Feb 08 17:02:03 EST 2009] InvestorsLive “Technical Screener”
[Sun Feb 08 17:02:16 EST 2009] InvestorsLive 5 day Support:
[Sun Feb 08 17:02:16 EST 2009] InvestorsLive Above
[Sun Feb 08 17:02:28 EST 2009] InvestorsLive 5 day Resistance:
[Sun Feb 08 17:02:28 EST 2009] InvestorsLive Break Out
[Sun Feb 08 17:02:40 EST 2009] InvestorsLive Change Gain
[Sun Feb 08 17:02:44 EST 2009] InvestorsLive make sure it shows: >=
[Sun Feb 08 17:03:03 EST 2009] InvestorsLive I run one around 25-30% if it doesn’t show many results I will enter 15%
[Sun Feb 08 17:03:09 EST 2009] InvestorsLive Abnormal Volume: Abnormal Volume
[Sun Feb 08 17:03:14 EST 2009] InvestorsLive Today relative to the 20 day volume average: Above
[Sun Feb 08 17:03:24 EST 2009] InvestorsLive Volume: >= 150,000
[Sun Feb 08 17:03:25 EST 2009] InvestorsLive $ Value Volume: >= 150,000
[Sun Feb 08 17:03:55 EST 2009] InvestorsLive I had a few questions about swing trading, and as we said in Seminar 3 although we aren’t in the best of swing trading markets – there have been a few great plays coming off bottom (especially this week)
[Sun Feb 08 17:04:10 EST 2009] InvestorsLive This is one scan that can be used for finding these plays because as you see…
[Sun Feb 08 17:04:18 EST 2009] InvestorsLive the 5 day support – its “above”
[Sun Feb 08 17:04:29 EST 2009] InvestorsLive and 5 day resistance – its set to “breakout”
[Sun Feb 08 17:04:47 EST 2009] InvestorsLive Normally what I’ll do each night is chart them all on bigcharts.com
[Sun Feb 08 17:04:53 EST 2009] InvestorsLive (the ones you normally see on my scan)
[Sun Feb 08 17:05:11 EST 2009] InvestorsLive not only do you become familiar with the charts but if they come into play through the day you already have an idea of what the chart looks like in your mind
[Sun Feb 08 17:05:42 EST 2009] InvestorsLive I’ll take a look at the 3 month chart, and if I don’t see support/resistance right away I go back to 6 month
[Sun Feb 08 17:05:59 EST 2009] InvestorsLive I look for double top/triple tops and support areas
[Sun Feb 08 17:06:18 EST 2009] InvestorsLive For example: http://www.investorsunderground.com/2009/02/05/scans-for-020609-from-InvestorsLive/
[Sun Feb 08 17:06:22 EST 2009] InvestorsLive GTE from last week
[Sun Feb 08 17:06:59 EST 2009] InvestorsLive if I can find support/resistance on the 3 month I don’t bother looking at a 6 month
[Sun Feb 08 17:07:40 EST 2009] InvestorsLive so some of the questions that were sent in
[Sun Feb 08 17:08:08 EST 2009] InvestorsLive Muddy uses market orders instead of limit orders. Many traders say they have never used a market order in their life to avoid bad fills and being taken advantage of by market makers. I’m assuming there is a good reason Muddy is still using solely market orders after 45 years of trading. What are the advantages of using market orders instead of limit orders?
[Sun Feb 08 17:09:17 EST 2009] InvestorsLive I use limit orders always even with FAZ
[Sun Feb 08 17:09:35 EST 2009] InvestorsLive for example EOD Friday you saw I used one there with a 41.20 sell, but filled 41.34
[Sun Feb 08 17:09:46 EST 2009] InvestorsLive I could have easily used Market, especially on a stock like that
[Sun Feb 08 17:09:54 EST 2009] InvestorsLive but I like to know the worst fill I am going to get
[Sun Feb 08 17:11:05 EST 2009] InvestorsLive Question: From all of the scans, how do you decide what stock to get into in the morning?
[Sun Feb 08 17:11:37 EST 2009] InvestorsLive Usually as I’ve mentioned I always let things trade out for the first 10 minutes and then watch for some support to kick in
[Sun Feb 08 17:11:49 EST 2009] InvestorsLive Muddy at times can jump in right away based on bid/ask movement that he is confident in
[Sun Feb 08 17:12:32 EST 2009] InvestorsLive I wait for support level to kick in, and wait for the break off it
[Sun Feb 08 17:12:52 EST 2009] InvestorsLive if a stock is hitting HODs and it has volume (constant volume) it may be worthwhile to just jump right in
[Sun Feb 08 17:13:29 EST 2009] InvestorsLive Something like BAC / C and other financial stocks
[Sun Feb 08 17:13:38 EST 2009] InvestorsLive You might as well throw a dart the first 10 minutes
[Sun Feb 08 17:13:49 EST 2009] InvestorsLive same with FAS and FAZ as Tortexal pointed out this week
[Sun Feb 08 17:13:56 EST 2009] InvestorsLive although they are supposed to trade inverse
[Sun Feb 08 17:14:03 EST 2009] InvestorsLive they both started the first 3-5 minutes the same
[Sun Feb 08 17:14:16 EST 2009] InvestorsLive just goes to show there is no solid direction – that’s my reasoning for usually sitting back
[Sun Feb 08 17:15:46 EST 2009] InvestorsLive Muddy if you don’t have anything to add I’ll move on to next
[Sun Feb 08 17:16:19 EST 2009] Muddy i use markets all the time..
[Sun Feb 08 17:16:43 EST 2009] Muddy i have the confidence and i want the stock then…
[Sun Feb 08 17:17:22 EST 2009] Muddy if that isnt your style then definitly go limit
[Sun Feb 08 17:17:53 EST 2009] InvestorsLive IL do you use stockhouse only for the weekly scans, or also pre? Do you ever use stockfetcher?
[Sun Feb 08 17:18:01 EST 2009] InvestorsLive I use stockhouse every night for my daily scans
[Sun Feb 08 17:18:15 EST 2009] InvestorsLive Pre it doesn’t have an option for – that’s purely nightly scans
[Sun Feb 08 17:18:20 EST 2009] InvestorsLive Pre is done at Interactive brokers
[Sun Feb 08 17:18:34 EST 2009] InvestorsLive Stock Fetcher – no I don’t use, Tort and Muddy use this nightly/weeklyt
[Sun Feb 08 17:18:37 EST 2009] Muddy (Feb 08-20:11) InvestorsLive: Question: From all of the scans, how do you decide what stock to get into in the morning?
[Sun Feb 08 17:19:16 EST 2009] Muddy i go on the premarket gainers first most all the time…before any scan
[Sun Feb 08 17:19:51 EST 2009] Muddy scans usually come later
[Sun Feb 08 17:20:06 EST 2009] Muddy unless you get a match
[Sun Feb 08 17:20:27 EST 2009] InvestorsLive Question: Yyou see a stock with momentum hitting nhod, is there any reason you would avoid trading this stock other than spread? I hope this question doesn’t kind of seem like a repeat.
[Sun Feb 08 17:20:51 EST 2009] InvestorsLive This is a good question, I’d say the 2 biggest things are yes the spread and any choppy chart may discourage me from trading it
[Sun Feb 08 17:21:17 EST 2009] InvestorsLive But if it has momentum that means its in play, it has both bidders and volume
[Sun Feb 08 17:22:34 EST 2009] InvestorsLive Question: Maybe go over the differences between a squeeze and an actual advance, if the two can be distinguished from one another. Wondering if one can tell from looking at the volume.
[Sun Feb 08 17:22:58 EST 2009] Muddy bad dayrange i’d say also
[Sun Feb 08 17:23:27 EST 2009] Muddy squeeze is a mis used term imo
[Sun Feb 08 17:23:47 EST 2009] Muddy very few actual squeezes
[Sun Feb 08 17:23:59 EST 2009] InvestorsLive Here is an example of a squeeze: http://ichart.finance.yahoo.com/w?s=RZ
[Sun Feb 08 17:24:01 EST 2009] Muddy tim uses it..it’s not true imo
[Sun Feb 08 17:24:15 EST 2009] InvestorsLive RZ no reason Feb 3rd to spike into close
[Sun Feb 08 17:24:29 EST 2009] InvestorsLive no news nothing, volume kicked up and squeeze the last 20 minutes into close
[Sun Feb 08 17:24:48 EST 2009] InvestorsLive Squeezes can be confused with momentum
[Sun Feb 08 17:25:51 EST 2009] InvestorsLive For example
[Sun Feb 08 17:26:09 EST 2009] InvestorsLive if a stock is flying up – and just when you think its about to tank/sell off
[Sun Feb 08 17:26:18 EST 2009] InvestorsLive it ends up holding and heading even higher rather quickly
[Sun Feb 08 17:26:53 EST 2009] InvestorsLive this can be that “point of pressure” that everyone who did short expecting it to be the top felt the pressure and said “oh sh*t” and decided to cover
[Sun Feb 08 17:27:04 EST 2009] InvestorsLive this is why you normally see me “stalking for the short” and wait for the “fade”
[Sun Feb 08 17:27:41 EST 2009] InvestorsLive but RZ is a good example, outta no where no reason and as soon as the move was done, headed back down
[Sun Feb 08 17:29:14 EST 2009] InvestorsLive Another question I had and a good point to make especially on bounces like we saw Thursday and Friday.. about getting the most bang for your buck.. is trailing stop losses
[Sun Feb 08 17:29:34 EST 2009] InvestorsLive now even I can use a little work on this since I think more short term and locking in profits right away – but Muddy is BEST at this
[Sun Feb 08 17:29:41 EST 2009] InvestorsLive I think a move such as RF or FITB on Friday is a good example to look at
[Sun Feb 08 17:30:12 EST 2009] InvestorsLive http://tinyurl.com/alheuo
[Sun Feb 08 17:30:17 EST 2009] InvestorsLive RF 2 day chart – 1 min
[Sun Feb 08 17:30:25 EST 2009] InvestorsLive sorry – thats FITB
[Sun Feb 08 17:30:41 EST 2009] InvestorsLive RF here: http://tinyurl.com/cbew2d
[Sun Feb 08 17:31:33 EST 2009] Muddy my stops initial are around 4%
[Sun Feb 08 17:31:54 EST 2009] Muddy depending on the price and uts dayrange
[Sun Feb 08 17:32:24 EST 2009] Muddy if it hits it right off,i’m out..no questions
[Sun Feb 08 17:32:33 EST 2009] Muddy i must contrll loses
[Sun Feb 08 17:33:00 EST 2009] Muddy if it runs i trail it up or down as is the case
[Sun Feb 08 17:33:09 EST 2009] Muddy i never cover near lod
[Sun Feb 08 17:33:24 EST 2009] Muddy i never sell near hod
[Sun Feb 08 17:33:49 EST 2009] Muddy the object for me is to let them run
[Sun Feb 08 17:35:05 EST 2009] InvestorsLive Do you guys have questions so far regarding what we’ve covered?
[Sun Feb 08 17:35:15 EST 2009] InvestorsLive or things that have come up during the week – that just don’t stick yet or make snese
[Sun Feb 08 17:35:22 EST 2009] thesaint do you attach a trailing stop right away or just jump out?
[Sun Feb 08 17:35:40 EST 2009] thesaint when the 4 percent hits
[Sun Feb 08 17:36:07 EST 2009] Muddy on a loss yes,mental
[Sun Feb 08 17:36:31 EST 2009] Muddy a trailing stop is when the price goes your way
[Sun Feb 08 17:36:43 EST 2009] thesaint oh yeah
[Sun Feb 08 17:37:41 EST 2009] InvestorsLive Oct did you have another question?
[Sun Feb 08 17:37:54 EST 2009] octagon21 yeah actually..
[Sun Feb 08 17:38:06 EST 2009] octagon21 I didn’t know if i could post here I was gonna PM
[Sun Feb 08 17:38:20 EST 2009] octagon21 I just started using traling stops myself
[Sun Feb 08 17:38:28 EST 2009] InvestorsLive go ahead not too many people have questions tonight (if you do PM me now, or post in chat) 🙂
[Sun Feb 08 17:38:37 EST 2009] add1186 What is the bid/ask movement Muddy looks for as mentioned earlier?
[Sun Feb 08 17:38:43 EST 2009] InvestorsLive keep going oct…
[Sun Feb 08 17:39:10 EST 2009] octagon21 so I wanted to know if you wait to see how the trade goes and if (like Muddy says) it goes your way then you place the stop
[Sun Feb 08 17:39:20 EST 2009] octagon21 and do you prefer stop % over stop$
[Sun Feb 08 17:40:32 EST 2009] Muddy % unless one under $1
[Sun Feb 08 17:40:55 EST 2009] octagon21 OK I was actually typing and what about under $1.. read my mind!
[Sun Feb 08 17:41:26 EST 2009] octagon21 so you place a stop after waiting a while and not right off the buy!?
[Sun Feb 08 17:41:27 EST 2009] Muddy me,i cant use 4% on those
[Sun Feb 08 17:41:55 EST 2009] Muddy i use mentals,i dont place a stop hard
[Sun Feb 08 17:42:14 EST 2009] Muddy yes right off the buy
[Sun Feb 08 17:42:26 EST 2009] octagon21 ok perfect!
[Sun Feb 08 17:42:49 EST 2009] Noobtrader.08 I understand what Dayrange is… but please explain how it’s “used” up intraday? I personally like to use ADR for s/r… however I’m sure how to tell if/when intraday ADR is used up… which is a reference I hear people talk about all the time…
[Sun Feb 08 17:44:45 EST 2009] Muddy ok,say adr is 15%
[Sun Feb 08 17:44:58 EST 2009] Muddy thats its average
[Sun Feb 08 17:45:02 EST 2009] Noobtrader.08 k
[Sun Feb 08 17:45:16 EST 2009] Muddy its red 3% then goes green
[Sun Feb 08 17:45:22 EST 2009] Noobtrader.08 k
[Sun Feb 08 17:45:33 EST 2009] Muddy so its got 12% somewhere left
[Sun Feb 08 17:45:53 EST 2009] Noobtrader.08 k, gotcha, thx
[Sun Feb 08 17:46:32 EST 2009] InvestorsLive Question: Could you talk about your entry analysis? How do you decide when to enter a trade?
[Sun Feb 08 17:46:42 EST 2009] Muddy momo should get you at least half that on green
[Sun Feb 08 17:46:57 EST 2009] ASton But what if someone puts out an alert …and u dont know what the ADR is?
[Sun Feb 08 17:47:16 EST 2009] InvestorsLive we’ll skip last question until first one is done – my b
[Sun Feb 08 17:47:42 EST 2009] Muddy (Feb 08-20:11) InvestorsLive: Question: From all of the scans, how do you decide what stock to get into in the morning?…so many things as we’ve gone over in past seminars
[Sun Feb 08 17:48:02 EST 2009] Muddy use of the pre scan is one
[Sun Feb 08 17:48:20 EST 2009] Muddy is it dropping or rising in pre?
[Sun Feb 08 17:48:33 EST 2009] Muddy is it a high dayranger?
[Sun Feb 08 17:48:56 EST 2009] Muddy is it on the 15% in 2 days?
[Sun Feb 08 17:49:09 EST 2009] Muddy is it a sector play?
[Sun Feb 08 17:49:28 EST 2009] Muddy is it a combo stock?
[Sun Feb 08 17:49:41 EST 2009] Muddy is uit a former runner?
[Sun Feb 08 17:50:06 EST 2009] Muddy has its adr 10 increased a bunch over adr30?
[Sun Feb 08 17:50:33 EST 2009] Muddy is it on the losers pre scan near an even dollar mark?
[Sun Feb 08 17:51:17 EST 2009] ASton ok..ha
[Sun Feb 08 17:51:27 EST 2009] Muddy you can find the ADR very fast on SF
[Sun Feb 08 17:51:51 EST 2009] Muddy you use the dayrange checker there
[Sun Feb 08 17:51:51 EST 2009] Noobtrader.08 do you keep SF open on one of your screens?
[Sun Feb 08 17:52:00 EST 2009] Noobtrader.08 ohhh
[Sun Feb 08 17:52:00 EST 2009] Muddy no
[Sun Feb 08 17:52:01 EST 2009] Noobtrader.08 yes
[Sun Feb 08 17:52:05 EST 2009] Noobtrader.08 oh
[Sun Feb 08 17:52:15 EST 2009] ASton ok..didnt know they had one..sweet
[Sun Feb 08 17:52:18 EST 2009] Muddy i use the dayrange checker if not sure
[Sun Feb 08 17:52:23 EST 2009] Noobtrader.08 ok
[Sun Feb 08 17:52:37 EST 2009] Muddy i built my own
[Sun Feb 08 17:52:46 EST 2009] Noobtrader.08 DaveL has a great intraday ADR checker…
[Sun Feb 08 17:53:06 EST 2009] ASton i see
[Sun Feb 08 17:53:06 EST 2009] InvestorsLive (and again ‘knowledge of former runners’ comes in handy too) once you see a ticker you know what its possibilties are..
[Sun Feb 08 17:53:19 EST 2009] InvestorsLive BUT there’s always some new ones on the block
[Sun Feb 08 17:53:27 EST 2009] Muddy all you need is to add the adr column
[Sun Feb 08 17:54:14 EST 2009] Noobtrader.08 yeah… time is def. important… learning stocks, runners and dumpers… in six months I’ve learned a few…
[Sun Feb 08 17:54:17 EST 2009] Muddy just put this in and add the price with a date offset of 1
[Sun Feb 08 17:54:32 EST 2009] Muddy close price is between x and x average day range(10)is greater than 0
[Sun Feb 08 17:54:43 EST 2009] ASton alrite
[Sun Feb 08 17:55:16 EST 2009] Muddy but you cant put in the exact price 1 day ago,a flaw of SF
[Sun Feb 08 17:55:33 EST 2009] Muddy if yest it was 1.50..
[Sun Feb 08 17:55:54 EST 2009] Muddy you need to put in 1.49 and 1.51
[Sun Feb 08 17:56:15 EST 2009] Muddy the columns will show you the adr10 and 30
[Sun Feb 08 17:56:57 EST 2009] InvestorsLive Question: Could you talk about your entry analysis? How do you decide when to enter a trade?
[Sun Feb 08 17:57:08 EST 2009] InvestorsLive As I mentioned above
[Sun Feb 08 17:57:23 EST 2009] InvestorsLive for example on the short side, (best example was Wednesday – TBSI)
[Sun Feb 08 17:57:50 EST 2009] InvestorsLive watch for it to top out a few times
[Sun Feb 08 17:58:11 EST 2009] Muddy (Feb 08-20:56) InvestorsLive: Question: Could you talk about your entry analysis? How do you decide when to enter a trade
[Sun Feb 08 17:58:20 EST 2009] Muddy see above
[Sun Feb 08 17:58:34 EST 2009] Muddy (Feb 08-20:47) Muddy: use of the pre scan is one (Feb 08-20:48) Muddy: is it dropping or rising in pre? (Feb 08-20:48) Muddy: is it a high dayranger? (Feb 08-20:48) Muddy: is it on the 15% in 2 days? (Feb 08-20:49) Muddy: is it a sector play? (Feb 08-20:49) Muddy: is it a combo stock? (Feb 08-20:49) Muddy: is uit a former runner? (Feb 08-20:50) Muddy: has its adr 10 increased a bunch over adr30? (Feb 08-20:50) Muddy: is it on the losers pre scan near an even dollar mark?
[Sun Feb 08 17:59:07 EST 2009] InvestorsLive let the potential late shorters cover, if it meets their pressure points – then I decided to short – if had broken HOD and on wrong side of trade cut my loss, but if right ride it out, which I and Franky I believe it was did..
[Sun Feb 08 17:59:17 EST 2009] InvestorsLive also breaks off consolidation patterns which I’ve gone over a bunch of times
[Sun Feb 08 17:59:23 EST 2009] InvestorsLive support/resistance and the “curl” I look for
[Sun Feb 08 17:59:30 EST 2009] InvestorsLive as well as pre leaders that have consolidated thru th eday
[Sun Feb 08 17:59:34 EST 2009] InvestorsLive which may head up to their pre highs
[Sun Feb 08 18:00:01 EST 2009] InvestorsLive 2 different methods but many things cross – we just think of it differently 🙂
[Sun Feb 08 18:00:03 EST 2009] Muddy i use the last 3 bars regarding s/r
[Sun Feb 08 18:00:22 EST 2009] Muddy if on daily i use last 3 days
[Sun Feb 08 18:00:51 EST 2009] Muddy but i daytrade so i use the last 3, 5 min bars
[Sun Feb 08 18:01:11 EST 2009] Muddy any less is too much noise imo
[Sun Feb 08 18:01:41 EST 2009] ngweaver how do you use the bars? what are you looking for
[Sun Feb 08 18:01:48 EST 2009] Muddy and i wait for a break
[Sun Feb 08 18:02:49 EST 2009] Muddy if the low was 4.50 and the high was 4.70 if it breaches it i’d look either way to enter..if interested in that stock
[Sun Feb 08 18:03:06 EST 2009] Muddy and that’s IF
[Sun Feb 08 18:03:26 EST 2009] amonte is the 10/60 cross more important on the intraday chart or the 3 to 5 day chart?
[Sun Feb 08 18:03:54 EST 2009] Muddy you always use the first 3 opening bars until you spot it
[Sun Feb 08 18:04:04 EST 2009] ASton at any breach level or any particular percentage?
[Sun Feb 08 18:04:16 EST 2009] Muddy when you spot it you use the LAST 3 bars
[Sun Feb 08 18:04:37 EST 2009] Muddy look at BAC fri
[Sun Feb 08 18:05:01 EST 2009] Muddy you see it at open? the first 3 bars?
[Sun Feb 08 18:05:18 EST 2009] Muddy thats the range you trade off of
[Sun Feb 08 18:05:36 EST 2009] Muddy the low close and the high close
[Sun Feb 08 18:05:45 EST 2009] Blz So long over 5.75 and short under 5.45?
[Sun Feb 08 18:05:48 EST 2009] Muddy those first 3 ,5 min bars
[Sun Feb 08 18:05:52 EST 2009] Noobtrader.08 1 white, 2 red… 5.36 low/5.76 high…
[Sun Feb 08 18:06:08 EST 2009] ngweaver so once it broke the high, i’m in
[Sun Feb 08 18:06:12 EST 2009] Muddy yes 5.36-5.76
[Sun Feb 08 18:06:13 EST 2009] Blz *5.35
[Sun Feb 08 18:06:30 EST 2009] ngweaver awesome info
[Sun Feb 08 18:06:32 EST 2009] Muddy and see..
[Sun Feb 08 18:06:39 EST 2009] ASton kool
[Sun Feb 08 18:06:40 EST 2009] Muddy BAC on pre!
[Sun Feb 08 18:06:58 EST 2009] Muddy but
[Sun Feb 08 18:07:07 EST 2009] Muddy if you see it late..
[Sun Feb 08 18:07:16 EST 2009] Muddy please understand this..
[Sun Feb 08 18:07:32 EST 2009] Muddy you use the LAST 3 bars!
[Sun Feb 08 18:07:40 EST 2009] Muddy that you see
[Sun Feb 08 18:07:42 EST 2009] Noobtrader.08 from teh time you see it?
[Sun Feb 08 18:07:44 EST 2009] Noobtrader.08 ok
[Sun Feb 08 18:07:53 EST 2009] pavtrader aka 15 min range
[Sun Feb 08 18:07:57 EST 2009] pavtrader ?
[Sun Feb 08 18:08:04 EST 2009] Muddy whether you use 5 min 10 min 15 min or whatever
[Sun Feb 08 18:08:28 EST 2009] Muddy its just drawing a line and trading above or below it!
[Sun Feb 08 18:08:53 EST 2009] InvestorsLive BAC 5 min: http://tinyurl.com/c5wphp BAC 15min: http://tinyurl.com/c9a6b4
[Sun Feb 08 18:09:10 EST 2009] Noobtrader.08 and again, for clarification… if a stock breaches either the low or high of these first 3 candles… you look to short or long… depending on if it breaks HIGH or LOW… right?
[Sun Feb 08 18:09:12 EST 2009] Muddy this is what makes the pre’s and the dayrangers so good
[Sun Feb 08 18:09:27 EST 2009] Muddy right,noob
[Sun Feb 08 18:09:31 EST 2009] Noobtrader.08 cool
[Sun Feb 08 18:09:36 EST 2009] Noobtrader.08 excellent!
[Sun Feb 08 18:09:44 EST 2009] Muddy heres the neat thing..
[Sun Feb 08 18:10:31 EST 2009] Muddy you set a stop only a few cent’s away at those s/r levels if the stock goes against you
[Sun Feb 08 18:10:43 EST 2009] Muddy the risk is so small
[Sun Feb 08 18:10:59 EST 2009] Noobtrader.08 yeah
[Sun Feb 08 18:11:33 EST 2009] Muddy but of course if pdt rule against you,thats bad
[Sun Feb 08 18:11:34 EST 2009] Chase Muddy, do these rules change for entry/exit on short/long for low float stocks?
[Sun Feb 08 18:11:52 EST 2009] Muddy good question
[Sun Feb 08 18:12:06 EST 2009] Muddy yes for me they do
[Sun Feb 08 18:12:36 EST 2009] Muddy but for a beginner that may be too much to digest
[Sun Feb 08 18:12:57 EST 2009] Muddy i give the low floats more room
[Sun Feb 08 18:13:28 EST 2009] Muddy and if you don’t know the l/f ones
[Sun Feb 08 18:13:41 EST 2009] Chase so your stop loss % is more than 4% ?
[Sun Feb 08 18:13:45 EST 2009] Muddy i do cause it shows in Scott qbox
[Sun Feb 08 18:14:11 EST 2009] Muddy on the l/f ones yes,i’ll give at least 6%
[Sun Feb 08 18:14:53 EST 2009] Chase do u typically consider less than 25 mil as low float ?
[Sun Feb 08 18:17:26 EST 2009] Muddy i use 20 but sure 25 is fine
[Sun Feb 08 18:17:52 EST 2009] Muddy on the scott qbox…
[Sun Feb 08 18:18:23 EST 2009] Muddy if you see “no data” you know its way low
[Sun Feb 08 18:18:47 EST 2009] InvestorsLive if it is spread by a few cents or more thats a good indication as well
[Sun Feb 08 18:18:50 EST 2009] InvestorsLive and moving on lower vol
[Sun Feb 08 18:19:03 EST 2009] InvestorsLive just cheat sheets without actually looking it up
[Sun Feb 08 18:19:11 EST 2009] InvestorsLive stuff spread by .01 and trading a ton of vol
[Sun Feb 08 18:19:17 EST 2009] InvestorsLive = higher float
[Sun Feb 08 18:19:35 EST 2009] Muddy the one thing i’ve noticed over the years with that spread….
[Sun Feb 08 18:20:00 EST 2009] Muddy on the l/f’s it can be wide BUT..
[Sun Feb 08 18:20:37 EST 2009] Muddy if/when it gets tighter it acts like the “jig” thing
[Sun Feb 08 18:21:02 EST 2009] Muddy but you need like at least 5 mins of tight
[Sun Feb 08 18:21:30 EST 2009] Muddy then many times,yes like a chaet sheet,it’ll go
[Sun Feb 08 18:21:45 EST 2009] Muddy this is why…
[Sun Feb 08 18:22:26 EST 2009] Muddy i use the 20 qboxes at hand,to watch this stuff
[Sun Feb 08 18:23:22 EST 2009] Muddy it takes focus when you need to be serious
[Sun Feb 08 18:24:23 EST 2009] InvestorsLive Question: With an account under 5k, is there ever an instance where you would trade something other than a dayranger? (Muddy mentioned in a previous seminar about only playing dayrangers if under 5k)
[Sun Feb 08 18:24:44 EST 2009] InvestorsLive Good question – mainly brought this up last time since FAS and FAZ were in play over the weeks
[Sun Feb 08 18:25:06 EST 2009] InvestorsLive normally FAZ Muddy, tort, myself and others will scalp quickly
[Sun Feb 08 18:25:08 EST 2009] InvestorsLive for a buck or two
[Sun Feb 08 18:25:16 EST 2009] InvestorsLive myself and randy at EOD on Friday as you saw
[Sun Feb 08 18:25:22 EST 2009] Muddy under 5k i’d trade only dayrangers mainly red/green green/red ..
[Sun Feb 08 18:25:28 EST 2009] InvestorsLive we saw the $1-1.50 move and wanted to take advantage of it
[Sun Feb 08 18:25:36 EST 2009] InvestorsLive this is why we mentioned … not really PDT, its more of a scalp move
[Sun Feb 08 18:25:37 EST 2009] Muddy and ONLY those over $10
[Sun Feb 08 18:25:56 EST 2009] InvestorsLive something where if ur wrong, its ok to waste a trade and cut loss quickly and wait for the next move
[Sun Feb 08 18:26:06 EST 2009] Muddy until i built it up to like $15k
[Sun Feb 08 18:26:32 EST 2009] InvestorsLive PDT = Pattern Day Trade rule for those that PMed me
[Sun Feb 08 18:26:54 EST 2009] Muddy imo,$15k is reasonable to go under the $10 ones
[Sun Feb 08 18:27:04 EST 2009] Muddy then its off to the races
[Sun Feb 08 18:28:12 EST 2009] Muddy the over $10 ones much more depenable but the under $10 ones have the advantage of much bigger moves if you are right
[Sun Feb 08 18:28:33 EST 2009] InvestorsLive SFLY had a nice red/green on Friday http://tinyurl.com/dgerzs Reaper mentioned in chat
[Sun Feb 08 18:28:40 EST 2009] InvestorsLive for those not familiar with the red/green moves
[Sun Feb 08 18:28:52 EST 2009] InvestorsLive watch for the break back over into positive territory and hold
[Sun Feb 08 18:28:59 EST 2009] Muddy if i had only 5k and pdt rule…
[Sun Feb 08 18:29:34 EST 2009] Muddy i’d short the ones on pre over 10 on a downmove off hods,,but thats me
[Sun Feb 08 18:30:07 EST 2009] Muddy split acct into 2,you have 6 trades
[Sun Feb 08 18:30:31 EST 2009] Muddy or go prop trading!
[Sun Feb 08 18:30:34 EST 2009] Ace_Rockolla And how much of your account would you risk a trade?
[Sun Feb 08 18:30:37 EST 2009] InvestorsLive I will be looking into the prop stuff as I mentioned last night to ‘get around’ it but I think it’s good to be under PDT for a little bit
[Sun Feb 08 18:30:39 EST 2009] Muddy no pdt there
[Sun Feb 08 18:30:41 EST 2009] InvestorsLive it forces you to learn
[Sun Feb 08 18:31:24 EST 2009] InvestorsLive its dangerous to just jump right in without having some control over you first – but yes I am looking into that prop stuff this week and will try to get some info for Sunday/potentially have some1 here
[Sun Feb 08 18:31:27 EST 2009] InvestorsLive to discuss we’ll see
[Sun Feb 08 18:31:36 EST 2009] Muddy the one you mentioned IL
[Sun Feb 08 18:31:47 EST 2009] Muddy H something?
[Sun Feb 08 18:31:54 EST 2009] Chase Muddy – what is prop trading?
[Sun Feb 08 18:31:58 EST 2009] InvestorsLive Harmontrading uses SpeedTraders software
[Sun Feb 08 18:32:06 EST 2009] InvestorsLive CY Group has been around since ’98
[Sun Feb 08 18:32:06 EST 2009] Muddy they have been around a long time
[Sun Feb 08 18:32:14 EST 2009] InvestorsLive Harmon about 3-4 years I think
[Sun Feb 08 18:32:19 EST 2009] InvestorsLive Prop trading you are basically a trader
[Sun Feb 08 18:32:20 EST 2009] InvestorsLive for a firm
[Sun Feb 08 18:32:26 EST 2009] InvestorsLive and have access to extreme margin
[Sun Feb 08 18:32:42 EST 2009] InvestorsLive 20:1 at CY group which is dangerous but if you treat it as if you only had 5k
[Sun Feb 08 18:32:43 EST 2009] Muddy here’s the thing with props..
[Sun Feb 08 18:32:47 EST 2009] InvestorsLive would give you more chances to learn
[Sun Feb 08 18:32:57 EST 2009] Muddy they WANT you to succed
[Sun Feb 08 18:33:11 EST 2009] Muddy its in their interest
[Sun Feb 08 18:33:28 EST 2009] Muddy they offer great teaching
[Sun Feb 08 18:33:29 EST 2009] tortexal yeah cy has restriction on how much you can lose of your initial 5k that you xfer in there
[Sun Feb 08 18:33:34 EST 2009] tortexal and restrictions on position size
[Sun Feb 08 18:33:44 EST 2009] tortexal you dont have access to the 100K margin unless you request it
[Sun Feb 08 18:33:52 EST 2009] Muddy right
[Sun Feb 08 18:34:24 EST 2009] InvestorsLive that’s a good thing, and you shouldn’t want it…
[Sun Feb 08 18:34:35 EST 2009] tortexal so if you xfer in 5k and decide to use margine most you can lose is your real 5k before they liquidate the position automaticly
[Sun Feb 08 18:34:47 EST 2009] Muddy right
[Sun Feb 08 18:35:11 EST 2009] Muddy you get good they up your profit %
[Sun Feb 08 18:35:35 EST 2009] Muddy but thats when you leave if you think you can go it alone
[Sun Feb 08 18:36:22 EST 2009] Muddy really its a no lose..if you have common sense imo
[Sun Feb 08 18:36:23 EST 2009] tortexal yes from what i understand you keep 100% of whhatever you xfer in, profits that you make etc, if you use the margin then they split profits w/ you.
[Sun Feb 08 18:36:43 EST 2009] Muddy you get good,they want to keep you
[Sun Feb 08 18:37:41 EST 2009] Muddy you just play them…you get good you bargain with them
[Sun Feb 08 18:37:50 EST 2009] Muddy just like sports
[Sun Feb 08 18:39:06 EST 2009] tortexal if i remember correct for new peeps that xfer in 5k they make it so if you lose 500$ a day your cut off for the rest of the day etc. reason is they dont want to you lose money bc eventually they want you to trade their money sucessfully
[Sun Feb 08 18:39:22 EST 2009] Muddy yes
[Sun Feb 08 18:39:34 EST 2009] tortexal lot of new peeps just outside of pdt make the mistake of over trading
[Sun Feb 08 18:39:39 EST 2009] tortexal you will blow out your accoutn that way
[Sun Feb 08 18:40:05 EST 2009] Muddy oh man,i know a few that have even become teachers in prop firms
[Sun Feb 08 18:40:18 EST 2009] Muddy thats a bag job
[Sun Feb 08 18:40:46 EST 2009] Muddy they want you to succedd like i said
[Sun Feb 08 18:40:46 EST 2009] chasdabigone i know a few as well, they get a percentage of their pupils
[Sun Feb 08 18:40:56 EST 2009] Muddy exactly!
[Sun Feb 08 18:41:09 EST 2009] Muddy is that cool or what
[Sun Feb 08 18:41:22 EST 2009] tortexal yeah firm can give you 100% of your real account profits bc they charge you data fees just like IB
[Sun Feb 08 18:41:28 EST 2009] tortexal they make $$ off the fee initially
[Sun Feb 08 18:41:40 EST 2009] Muddy yup 100%
[Sun Feb 08 18:42:12 EST 2009] Muddy plus you get huge capital to trade with at that point
[Sun Feb 08 18:42:16 EST 2009] Blz Tort, excluding your scalps on FAS/FAZ how many trades do you typically make on any given day, if you had to pick an average?
[Sun Feb 08 18:42:31 EST 2009] tortexal all ive been trading recently is FAZ and FAS
[Sun Feb 08 18:42:46 EST 2009] tortexal since jan i think. outside of that when doing individual stocks its maybe 9-12
[Sun Feb 08 18:42:51 EST 2009] tortexal 8-12 rather
[Sun Feb 08 18:43:07 EST 2009] Blz okay, thanks
[Sun Feb 08 18:43:42 EST 2009] Muddy one thing i’d like to impress….
[Sun Feb 08 18:44:07 EST 2009] Muddy is how valuable the pre scan is,to me anyway
[Sun Feb 08 18:44:37 EST 2009] lpm61lpm what are you looking for in the pre scan
[Sun Feb 08 18:44:46 EST 2009] Muddy i could never run another scan and it would be fine
[Sun Feb 08 18:45:03 EST 2009] amonte is the 10/60 more important during the intrada or 3 to 5 day
[Sun Feb 08 18:45:08 EST 2009] InvestorsLive 1pm61lpm – the pre list is a list of “potential plays”
[Sun Feb 08 18:45:09 EST 2009] InvestorsLive for htat day
[Sun Feb 08 18:45:25 EST 2009] InvestorsLive gives us a cheat sheet as to whats going on and what’s moving pre 9:30
[Sun Feb 08 18:45:32 EST 2009] InvestorsLive some come into play and some don’t
[Sun Feb 08 18:45:33 EST 2009] lpm61lpm thxs and that comes out in the am???
[Sun Feb 08 18:45:36 EST 2009] Muddy i think its on other seminars,the way i play it
[Sun Feb 08 18:45:49 EST 2009] Muddy but mainley…
[Sun Feb 08 18:46:02 EST 2009] Muddy yes at 8am it starts
[Sun Feb 08 18:46:16 EST 2009] Muddy you watch for news..
[Sun Feb 08 18:46:26 EST 2009] Muddy for the pre action
[Sun Feb 08 18:46:29 EST 2009] InvestorsLive lpm – check this as well: http://www.investorsunderground.com/seminars I know you just joined but scan thru that we covered I think in the first seminar
[Sun Feb 08 18:46:39 EST 2009] Muddy is it rising into open
[Sun Feb 08 18:46:45 EST 2009] Muddy is it dropping
[Sun Feb 08 18:46:55 EST 2009] lpm61lpm okay sounds good thxs!!!!
[Sun Feb 08 18:46:59 EST 2009] Muddy is it neat even dollar mark
[Sun Feb 08 18:47:06 EST 2009] Muddy near
[Sun Feb 08 18:47:23 EST 2009] Muddy is it a dayranger
[Sun Feb 08 18:47:39 EST 2009] Muddy is it in a hot sector
[Sun Feb 08 18:47:51 EST 2009] Muddy the banks fri
[Sun Feb 08 18:48:12 EST 2009] InvestorsLive is it Financial sector… go back a month, is it in the Pharma sector
[Sun Feb 08 18:48:13 EST 2009] Muddy many on pre and rising into the open
[Sun Feb 08 18:48:13 EST 2009] amonte is the 10/60 cross more important during the intraday or on a 3 to 5 day
[Sun Feb 08 18:48:17 EST 2009] InvestorsLive etc
[Sun Feb 08 18:48:34 EST 2009] InvestorsLive if its a hot sector gives you more confidence they’ll be support
[Sun Feb 08 18:48:39 EST 2009] Muddy oh,on during day but..
[Sun Feb 08 18:49:03 EST 2009] Muddy you want to go back near close the day before
[Sun Feb 08 18:49:11 EST 2009] Blz What do you watch in pre to gauge the sector?
[Sun Feb 08 18:49:31 EST 2009] Muddy look at ones that crossed in last hour before eod
[Sun Feb 08 18:49:50 EST 2009] Muddy you can get the jump on them..good question
[Sun Feb 08 18:50:02 EST 2009] amonte ok
[Sun Feb 08 18:50:42 EST 2009] Noobtrader.08 Is HIG a good example???
[Sun Feb 08 18:50:50 EST 2009] Noobtrader.08 of what you just said Muddy?
[Sun Feb 08 18:51:05 EST 2009] Muddy are the sectors rising all at once or dropping and..
[Sun Feb 08 18:51:13 EST 2009] Muddy the thing is..
[Sun Feb 08 18:51:40 EST 2009] Muddy you have to know your symbols,this takes time
[Sun Feb 08 18:51:45 EST 2009] Noobtrader.08 it’s the last two hours of Friday… but there was a cross.
[Sun Feb 08 18:52:31 EST 2009] Muddy i only like the last hour myself
[Sun Feb 08 18:52:57 EST 2009] Muddy even better are the ones last few minutes
[Sun Feb 08 18:53:00 EST 2009] Noobtrader.08 alright… so lookiing at that chart… I look at it and think long potential…
[Sun Feb 08 18:53:46 EST 2009] Muddy but see,i think long BIASED,so if only on green..
[Sun Feb 08 18:53:56 EST 2009] Muddy otherwise i don’t care
[Sun Feb 08 18:53:56 EST 2009] Noobtrader.08 yes, absolutely
[Sun Feb 08 18:54:14 EST 2009] Muddy biased is the key word…
[Sun Feb 08 18:54:21 EST 2009] Noobtrader.08 got it.
[Sun Feb 08 18:54:40 EST 2009] Noobtrader.08 and 3 % green, right?
[Sun Feb 08 18:54:43 EST 2009] Muddy go with the flow,but if it goes the other way,i forget it
[Sun Feb 08 18:54:48 EST 2009] Noobtrader.08 or even dollar marks..
[Sun Feb 08 18:55:16 EST 2009] Muddy it used to be 3% but now with this volatility…
[Sun Feb 08 18:55:47 EST 2009] Muddy i’d hop on any green but stop just on red to protect
[Sun Feb 08 18:55:54 EST 2009] Noobtrader.08 o
[Sun Feb 08 18:55:56 EST 2009] Noobtrader.08 k
[Sun Feb 08 18:56:02 EST 2009] Chase Muddy – any thoughts on market turn arounds – how do you identify early on and handle them : rally to crash or crash to rally? And usually any specific times you watch for such turnarounds – thanks.
[Sun Feb 08 18:56:06 EST 2009] Muddy you see like HBAN STSA etc.
[Sun Feb 08 18:56:12 EST 2009] Noobtrader.08 checking
[Sun Feb 08 18:56:29 EST 2009] InvestorsLive Chase you can see how quickly the shift especially this week
[Sun Feb 08 18:56:32 EST 2009] InvestorsLive mostly longs
[Sun Feb 08 18:56:39 EST 2009] InvestorsLive you can identify it rather quickly
[Sun Feb 08 18:57:13 EST 2009] Muddy on individual stocks i don’t watch the market…not talking about FAS/FAZ type though
[Sun Feb 08 18:57:32 EST 2009] Muddy_13:30 and 2:30 are the times
[Sun Feb 08 18:57:54 EST 2009] Muddy many reversals happen near these 2 times
[Sun Feb 08 18:58:19 EST 2009] Muddy and drug news ones….
[Sun Feb 08 18:58:35 EST 2009] Chase do DJI/Qs/SPY/vix/ these give an early indication or any other?
[Sun Feb 08 18:58:46 EST 2009] Muddy will many times rally back to hods or past after 3pm
[Sun Feb 08 18:58:57 EST 2009] InvestorsLive I always have SPY up Chase
[Sun Feb 08 18:59:06 EST 2009] InvestorsLive FAS/SPY/FAZ and BAC
[Sun Feb 08 18:59:10 EST 2009] InvestorsLive whatever is the ‘big boy’ for the day
[Sun Feb 08 18:59:23 EST 2009] InvestorsLive you can also watch the financial sector
[Sun Feb 08 18:59:25 EST 2009] InvestorsLive IYF or whatever
[Sun Feb 08 18:59:31 EST 2009] InvestorsLive which is good for FAS/FAZ
[Sun Feb 08 19:00:00 EST 2009] InvestorsLive but I like to watch the ‘big one’ in the group to trade FAZ/FAS such as BAC and C
[Sun Feb 08 19:00:01 EST 2009] Muddy but for me i don’t do that,because i’m only interested in individual stocks…
[Sun Feb 08 19:00:13 EST 2009] Muddy and i can tell you….
[Sun Feb 08 19:00:25 EST 2009] Muddy it can mess your brain
[Sun Feb 08 19:00:44 EST 2009] Noobtrader.08 ha
[Sun Feb 08 19:01:05 EST 2009] InvestorsLive Yes Muddy uses an over simplified system, and I think knowing/looking at too much like I do.. can mess ur brain during the day
[Sun Feb 08 19:01:27 EST 2009] InvestorsLive JV had a comment he wanted to make regarding SF Scans … so shoot JV!
[Sun Feb 08 19:01:35 EST 2009] johnnyvento just a quick comment… are you guys all aware you can use SF for the pre hits
[Sun Feb 08 19:01:42 EST 2009] johnnyvento use the symlist function
[Sun Feb 08 19:01:46 EST 2009] johnnyvento here is an example
[Sun Feb 08 19:02:01 EST 2009] johnnyvento symlist(ARTG,CBL,MF,HBAN)
[Sun Feb 08 19:02:09 EST 2009] johnnyvento add column average day range(10)
[Sun Feb 08 19:02:15 EST 2009] johnnyvento add column average day range(30)
[Sun Feb 08 19:02:23 EST 2009] johnnyvento add column outstanding shares
[Sun Feb 08 19:02:28 EST 2009] johnnyvento add column sector
[Sun Feb 08 19:02:30 EST 2009] Muddy if you have ino tv watch this…exactly how i feel about keeping things simple….
[Sun Feb 08 19:02:40 EST 2009] johnnyvento add column rsi(2)
[Sun Feb 08 19:02:42 EST 2009] Muddy Catching the Big Moves Expert: Jake Bernstein
[Sun Feb 08 19:03:00 EST 2009] Noobtrader.08 JV is that the DaveL script? or smiliar to it?
[Sun Feb 08 19:03:16 EST 2009] johnnyvento no just a scan to get quick info on the pre hits
[Sun Feb 08 19:03:29 EST 2009] johnnyvento it’s not a scan… you add the pre hits into the symlist line
[Sun Feb 08 19:03:32 EST 2009] Noobtrader.08 right… lol (tired), you just said that.
[Sun Feb 08 19:03:53 EST 2009] johnnyvento then you can see day range, whether it’s increasing, float, sector, etc
[Sun Feb 08 19:04:15 EST 2009] johnnyvento just a quick comment I wanted to add
[Sun Feb 08 19:04:24 EST 2009] Muddy good idea
[Sun Feb 08 19:04:33 EST 2009] InvestorsLive as per what Muddy said they are pretty neat.. I added it to the education page: http://www.investorsunderground.com/education/
[Sun Feb 08 19:04:43 EST 2009] Blz Good stuff, thanks JV
[Sun Feb 08 19:04:53 EST 2009] InvestorsLive Thanks JV
[Sun Feb 08 19:05:00 EST 2009] Muddy i was on ino like 8 hrs today,ha
[Sun Feb 08 19:05:21 EST 2009] InvestorsLive Any other questions guys?
[Sun Feb 08 19:06:09 EST 2009] lpm61lpm /gals
[Sun Feb 08 19:06:19 EST 2009] Muddy ha
[Sun Feb 08 19:06:38 EST 2009] ngweaver On daily charts, any special things to look for in regards to RSI(2) and the bollinger bands working in concert?
[Sun Feb 08 19:06:59 EST 2009] InvestorsLive guys/gals haha yes
[Sun Feb 08 19:07:06 EST 2009] lpm61lpm lol
[Sun Feb 08 19:07:36 EST 2009] Muddy me,i don’t use live charts for that..way too much noise
[Sun Feb 08 19:07:47 EST 2009] ice_princess whenever an alert come up on itntraday , what should one do , to determine to enter a position or not?
[Sun Feb 08 19:07:47 EST 2009] ngweaver not live, just daily on prophet
[Sun Feb 08 19:08:26 EST 2009] InvestorsLive you can ngweaver but many of the stocks we play especially stuff like RF and FITB etc might throw you off
[Sun Feb 08 19:08:38 EST 2009] InvestorsLive I’m sure technicals like the ones you mentioned showed WAY over extended
[Sun Feb 08 19:08:42 EST 2009] InvestorsLive over bought/sold etc
[Sun Feb 08 19:08:48 EST 2009] Muddy ice,that’s hard,but i’d say..
[Sun Feb 08 19:09:01 EST 2009] InvestorsLive but once ur rollin in the right direction just let it roll and risk 4% from HOD
[Sun Feb 08 19:09:06 EST 2009] ice_princess what would u do .. ?
[Sun Feb 08 19:09:07 EST 2009] Muddy the best ones are the jiggy hods
[Sun Feb 08 19:09:14 EST 2009] ngweaver good point, thanks IL
[Sun Feb 08 19:09:22 EST 2009] Muddy do you have scott?
[Sun Feb 08 19:09:26 EST 2009] ice_princess yes
[Sun Feb 08 19:09:40 EST 2009] Muddy or a way of seeing jiggy?
[Sun Feb 08 19:09:51 EST 2009] ice_princess yes
[Sun Feb 08 19:10:05 EST 2009] Muddy cool,then did you ever see it in the qbox?
[Sun Feb 08 19:10:16 EST 2009] ice_princess yes .. i do
[Sun Feb 08 19:10:39 EST 2009] Muddy the BxA size and/or exchange fillping?
[Sun Feb 08 19:10:59 EST 2009] Muddy ok then if it has just went green
[Sun Feb 08 19:11:10 EST 2009] Muddy like RF friday
[Sun Feb 08 19:11:10 EST 2009] ice_princess k
[Sun Feb 08 19:11:25 EST 2009] Muddy it was super jig on green
[Sun Feb 08 19:11:36 EST 2009] Muddy these are the best % plays
[Sun Feb 08 19:11:57 EST 2009] Muddy i think i called it right on green from red hit
[Sun Feb 08 19:12:15 EST 2009] ice_princess ok.. on any alert .. i should look for a jiggg
[Sun Feb 08 19:12:16 EST 2009] Muddy then it hit 6% fast
[Sun Feb 08 19:12:21 EST 2009] Muddy then zoomed
[Sun Feb 08 19:12:48 EST 2009] Muddy yes,ice,plus..
[Sun Feb 08 19:13:10 EST 2009] amonte new here, Jiggy? I have scott. are you talking about watching teh b/a move crazy, volume ticking up as well?
[Sun Feb 08 19:13:13 EST 2009] Muddy look for the pre losers i put up…
[Sun Feb 08 19:13:34 EST 2009] ice_princess k
[Sun Feb 08 19:13:43 EST 2009] Muddy then watch for a drop near an even dollar mark
[Sun Feb 08 19:14:01 EST 2009] Muddy see if it holds it,say a few % above
[Sun Feb 08 19:14:43 EST 2009] Muddy these are easy 5%+ most times,many times running up to next dollar mark
[Sun Feb 08 19:15:06 EST 2009] Muddy everyday it seems to happen
[Sun Feb 08 19:15:10 EST 2009] ice_princess k
[Sun Feb 08 19:15:30 EST 2009] ice_princess got it … thanks Muddy
[Sun Feb 08 19:16:00 EST 2009] ice_princess when u put an alert , does it mean , u already hold teh position ?
[Sun Feb 08 19:16:29 EST 2009] Muddy and,ice….look for the ones from pre leaders that sart to go red,imo these are high risk/rewards if you can short
[Sun Feb 08 19:17:04 EST 2009] Muddy no amonte…
[Sun Feb 08 19:17:18 EST 2009] Muddy its not the b/a itself….
[Sun Feb 08 19:17:36 EST 2009] Muddy its the SIZE on b/a that flips
[Sun Feb 08 19:17:51 EST 2009] Muddy or the EXCHANGE b/a
[Sun Feb 08 19:18:04 EST 2009] Muddy NOT the b/a itself
[Sun Feb 08 19:18:13 EST 2009] Muddy thats noise
[Sun Feb 08 19:18:41 EST 2009] Muddy its like using level2,it can fake you imo
[Sun Feb 08 19:19:06 EST 2009] Muddy you need the size and or exchange flipping
[Sun Feb 08 19:20:09 EST 2009] Muddy fri CORS flipped nuts on the Size at .38,you could see acid trips there,ha
[Sun Feb 08 19:20:35 EST 2009] amonte excellent, ty
[Sun Feb 08 19:20:46 EST 2009] amonte hahaha
[Sun Feb 08 19:21:06 EST 2009] InvestorsLive [Fri Feb 06_12:21:54 EST 2009] Muddy CORS kinda jig .38
[Sun Feb 08 19:21:10 EST 2009] InvestorsLive = acid trips
[Sun Feb 08 19:21:11 EST 2009] InvestorsLive ha
[Sun Feb 08 19:21:25 EST 2009] amonte so then its when you see the b/a size jumping from like 1200 -5000-25000 etc
[Sun Feb 08 19:22:54 EST 2009] amonte yeah, saw that CORS move, was unable to take advantage as I already was in my last trade for the week with HBAN
[Sun Feb 08 19:23:07 EST 2009] Muddy no,the # does not matter…
[Sun Feb 08 19:23:20 EST 2009] Muddy heres the theory..
[Sun Feb 08 19:24:10 EST 2009] Muddy its the MM’s scrambling at that moment…for whatever reason this stock is IN PLAY at that moment…
[Sun Feb 08 19:24:23 EST 2009] Muddy and if you look many times…
[Sun Feb 08 19:24:55 EST 2009] Muddy it takes 5-10 mins or more before it starts to move
[Sun Feb 08 19:25:14 EST 2009] Muddy its a precursor of things about to happen
[Sun Feb 08 19:25:16 EST 2009] Noobtrader.08 not sure if anyone can make a video fo what this looks (as I’m a visual learner) but that would be very helpful…
[Sun Feb 08 19:25:28 EST 2009] Noobtrader.08 just a thought…
[Sun Feb 08 19:25:33 EST 2009] Muddy i think Tort did
[Sun Feb 08 19:25:45 EST 2009] Noobtrader.08 really? Tort do you have a link?
[Sun Feb 08 19:25:54 EST 2009] InvestorsLive http://stackyourcream.blogspot.com/2009/01/jiggy.html
[Sun Feb 08 19:25:58 EST 2009] Noobtrader.08 thanks
[Sun Feb 08 19:26:40 EST 2009] Muddy thats an exteme case thogh,you wont see that wild on lower vol stocks
[Sun Feb 08 19:26:57 EST 2009] Muddy you have to judge it
[Sun Feb 08 19:27:03 EST 2009] Noobtrader.08 k
[Sun Feb 08 19:27:19 EST 2009] Muddy if lower vol the b/a wont move muck
[Sun Feb 08 19:27:29 EST 2009] Noobtrader.08 k
[Sun Feb 08 19:27:36 EST 2009] Muddy but the b/a size will
[Sun Feb 08 19:28:01 EST 2009] Muddy i wish i could vid one
[Sun Feb 08 19:28:17 EST 2009] Muddy say a 300k share one
[Sun Feb 08 19:28:24 EST 2009] Noobtrader.08 yeah, that would be great!
[Sun Feb 08 19:28:47 EST 2009] Muddy where the size and/or exchange flips crazy
[Sun Feb 08 19:29:08 EST 2009] Muddy the thing is…
[Sun Feb 08 19:29:21 EST 2009] Muddy one one like that with lower vol…
[Sun Feb 08 19:29:33 EST 2009] Muddy you know something is up…
[Sun Feb 08 19:29:54 EST 2009] Muddy that is a cheat sheet
[Sun Feb 08 19:30:17 EST 2009] Muddy MM’s scrambling on those?
[Sun Feb 08 19:30:21 EST 2009] Noobtrader.08 just downloaded… watching now.
[Sun Feb 08 19:30:23 EST 2009] Muddy why?
[Sun Feb 08 19:30:43 EST 2009] Muddy cause there is something up
[Sun Feb 08 19:31:12 EST 2009] Muddy noob,look at the flip around even mark to
[Sun Feb 08 19:31:26 EST 2009] Noobtrader.08 k
[Sun Feb 08 19:31:40 EST 2009] Noobtrader.08 brb… wathcing now
[Sun Feb 08 19:32:56 EST 2009] Muddy ok,that one is wild..
[Sun Feb 08 19:33:04 EST 2009] amonte just realized, i do not have access to that screen at work. still working on making enough doing this full time or part time but not working for someone
[Sun Feb 08 19:33:10 EST 2009] InvestorsLive yea that ones crazy wild
[Sun Feb 08 19:33:31 EST 2009] InvestorsLive Muddy post-jig one thing I always notice as well is the volume bar
[Sun Feb 08 19:33:34 EST 2009] InvestorsLive on the 1 min or 5 min
[Sun Feb 08 19:33:36 EST 2009] InvestorsLive big jump in it
[Sun Feb 08 19:33:41 EST 2009] InvestorsLive lotta shares swapping hands
[Sun Feb 08 19:33:42 EST 2009] Muddy it’s why i listen to the Ramones when i’m trading,ha
[Sun Feb 08 19:34:08 EST 2009] amonte haha, no Doors huh?
[Sun Feb 08 19:34:18 EST 2009] Muddy yes,the volume bar
[Sun Feb 08 19:34:18 EST 2009] tortexal i absolutly love the ramones, used to see them at summerfest
[Sun Feb 08 19:34:42 EST 2009] Muddy yes Doors and Jeff Airplane
[Sun Feb 08 19:35:02 EST 2009] amonte sure wish i new you guys back in 00′ before i lost about 80k, investing long term
[Sun Feb 08 19:35:08 EST 2009] Muddy ha,2 mins songs,Ramones
[Sun Feb 08 19:35:36 EST 2009] Muddy i want to be sedated,thats me
[Sun Feb 08 19:35:46 EST 2009] tortexal california sun is me 🙂
[Sun Feb 08 19:35:55 EST 2009] pabob I wanna feel sedated
[Sun Feb 08 19:36:04 EST 2009] pabob also
[Sun Feb 08 19:36:18 EST 2009] Muddy Ramones+hod list,ha
[Sun Feb 08 19:38:05 EST 2009] Derffie now I see my mistake.. here I was listening to Steely Dan.. way to cerebral…
[Sun Feb 08 19:38:32 EST 2009] amonte i assume with the stim/pork bill not being signed until tuesday and the bad bank stuff and fed, banks are a major play tomorrow into tuesday?
[Sun Feb 08 19:38:36 EST 2009] tortexal dow futures nlod
[Sun Feb 08 19:38:59 EST 2009] Muddy yikes SD not for that,that’s ::smoke …….so with the combo scan
[Sun Feb 08 19:39:22 EST 2009] Noobtrader.08 wicked vid Tort… watcht the B/A size and Exchange… nutty!
[Sun Feb 08 19:39:27 EST 2009] Muddy the combo can get you great leads,imo
[Sun Feb 08 19:39:58 EST 2009] Muddy yes noob,see that action
[Sun Feb 08 19:40:03 EST 2009] Noobtrader.08 yes
[Sun Feb 08 19:40:06 EST 2009] Noobtrader.08 awesome!
[Sun Feb 08 19:40:12 EST 2009] amonte saw the exchanges going crazy!!
[Sun Feb 08 19:40:21 EST 2009] Noobtrader.08 adn the tune in the background to boot!
[Sun Feb 08 19:40:27 EST 2009] Noobtrader.08 gets you pumped!
[Sun Feb 08 19:40:33 EST 2009] Muddy but you can see that on lower vol ones too!
[Sun Feb 08 19:40:42 EST 2009] amonte sure does, used to listen to that on the way to the clubs in the 80’s
[Sun Feb 08 19:40:48 EST 2009] Noobtrader.08 lol
[Sun Feb 08 19:40:48 EST 2009] Muddy just not the price move…Yet!
[Sun Feb 08 19:40:57 EST 2009] Noobtrader.08 I still listne to it on teh way to the clubs… when I go…
[Sun Feb 08 19:41:03 EST 2009] amonte LOL
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