Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[Jerry Olson]

We Are Having A Lesson On The Use Of Laser

Alert

if anyone wishes to check out the Laser PLatform we all use fomr Genesis

Ian H is holding a class right at 4.10 est today

the password for the room is rallytime

that passowrd was in my last Sundays newsletter................................. :cheesy:

here's the link for the Paltalk.com download

http://www.jogtrader.com/paltalksetup.html

all are welcome

 

[eurotrader52]

Will sell 3/4 AAPL, BRCM, PALM EXPD last 5 minutes of trade keeping 1/4 with stop

HOLDING TIE call options since the pullback (if there is one) is limited to the option play.

 

[Jerry Olson]

Last Sunday's Newsletter

JERRY OLSON'S
"POINT" OF VIEW NEWSLETTER
DATED MAY 29TH 2006
TALK ABOUT DEPENDANT DATA!

Hello out there all my cyber trading friends from around the globe. It is a glorious Memorial Day Weekend
here in good old Philly the birth place of our nation. I know that we all are giving thanks to our service men and women all over the world for their incredible sacrifices for our safety and well being. Our Hats and our hearts are off to them.

The markets are bouncing for the first time in 2 weeks. That correction from the highs was one of the fastest moves down I've ever seen before in my trading life. That is exactly the way it's going to be from now on too. So you better get used to it folks. The volatility along with the massive moves in the markets each week is making a lot of people bow out of the markets forever. The old buyers and holders are really struggling to hold on to any meaningful gains. Look if rates keep rising and bond prices start back up again then why take risk at all? If some one can get 5-6-7% on their money in safety then who the heck needs to "invest" in any wild moving stocks or options. I will say though for the present rates on mortgages at around 6.25-6.50% this is historically pretty low everyone. IN fact it's still very easy to borrow money no matter what your credit scores are these days. Currently the once robust housing markets seems so vulnerable with just a 1-2 point hike in very low rates over the last few months or so. Seems a bit ridiculous to me that home buyers would stop cold over a measly 1-2 points? Even more implausible is the rate of change in the buying and selling of housing around the country. HOV & TOL and all the rest of the main large type builders have warned massively for the next few quarters of serious downside to their profits and sales. Seems a bit odd to me that it would have such a profound effect so fast on the biggest and best sector this country has right now. The more serious side effect of this slowing number is the jobs that it once created. So if the FED continues to raise rates even though almost 400 basis points of hikes are NOT yet in the system I would have to say this will be no soft landing my trading friends. This truly could end quite badly later this year if they continue to choke off our modest recovery. That last GDP number is out of the window right now. I cannot for the life of me think we can maintain 5.3% GDP on down the road. Then there's the flip side of all this nonsense, and that's the present thinking on Wall Street.

If the economy slows more than it's starting to do now, then how will companies make any money?. If the FED chokes off the consumer while rising commodity prices continue along their merry way that will certainly hurt spending and income figures for sure. Wall Street is very aware of what "could" happen if the FED continues on down this path of tightened monetary policy without a breather. What could happen is a major crash in the markets this fall when the real interest rates numbers finally hit the street like a ton of bricks. So why am I talking about all this? Because it has a major effect on IRA's and 401K's and all longer term holdings over time. Now the whole world is watching each economic number here in the states each week. The markets are so nervous now that any bad number is slam bam thank you maam, and if the numbers are bullish so we'll get these bounces into the FED date late June albeit with much trepidation. I warn you all that if the FED does not stop or signal a stop after raising again in June my prediction will be utter chaos to the markets. They will throw up their hands on investing anymore till the FED stops, and that means much less action for all types of traders. With the one exception of course us daytraders. We can live and die with what is offered to us each day for the meat and potatoes of our lively hood. What ever is thrown in our direction we just keep plugging along. Never forgeting how fortunate we all are doing what we love best while everyone else is wringing their hands fretting their lives away not knowing what to do. We are in the best of all worlds right now everyone, just know it, embrace it and love it. I can say that things are shaping up on Point & Figure Bullish Percents we are close to making reversals back up. I'll be updating as they begin to rally each week.
=========================================================================================================


DJIA---THIS INDEX IS SITTING RIGHT IN THE MIDDLE IF YOU ASK ME. "IF" THE DJIA REVERSES DOWN AND BREAKS THAT 11,000 LEVEL ON THE CHARTS KATY BAR THE DOOR. IF IN FACT THAT FRIDAY DOUBLE TOP BUY SIGNAL AT 11,250 HOLDS HERE I WOULD ASSUME A "TEST OF TOP" AT 11,650 ONE MORE TIME. http://www.buyitbuyitsellitsellit.com/OJ1.gif WHAT A GREAT CHART FOR ALL TECHNICIANS.

COMPX-NAZ---THIS INDEX REVERSED BACK UP LAST WEEK 3 BOXES ON P&F. THIS CHART WAS THE FIRST SELL SIGNAL SINCE LAST OCT 2005. WE HAVE SOME HARD R AT THE 200 & 20 EMA'S ON THE CHARTS TO OVERCOME FIRST. http://www.buyitbuyitsellitsellit.com/OJ2.gif

NDX---SAME BASIC CHART AS THE COMPX. UPSIDE TARGET IS AROUND 1635.00 WHERE 2 TIME FRAMES ARE THERE TO STOP THIS BACKSIDE BOUNCE. http://www.buyitbuyitsellitsellit.com/OJ3.gif NDX BP RALLIED UP 3 POINTS LAST WEEK NEEDS 34% FOR THE REVERSAL BACK UP FROM BEAUTIFUL LOWS.

RUT 2000---THIS INDEX GOT WHACKED BIG TIME VERY FAST. IT NEARLY TOUCHED THE BOTTOM OF THE 10 WEEK TRADING BAND AT 687.50. IT WAS JUST A LITTLE TAD HIGHER AT 697.50 FOR THE MAY LOWS. 10 POINTS ON A 700+ PRICED INDEX NOT TOO SHABBY. THEN IT RALLIED UP BIG TIME TO GIVE A NEAR TERM BUY SIGNAL LAST WEEK,

BTK BIO TECH INDEX---JUST REVERSED UP LAST WEEK 3 BOXES. ALMOST HIT THE 10 WEEK BOTTOM AS WELL. WATCH FOR A REVERSAL BACK UP IN THE BP'S IN THIS INDEX. http://www.buyitbuyitsellitsellit.com/OJ4.gif

SOX INDEX---THE WEAKEST LINK WITH THE BEST COMPANIES INSIDE OF THE SECTOR. POTENTIAL WEDGE BREAKOUT AT 475 WITH A TEST OF 485 IN LINE.

HUI---GOLD BUG INDEX---IT NEEDS TO PRINT 326 OR IT'S GOING TO THE BOTTOM OF THE 10 WEEK AT 276 VERY FAST. SAME WITH THE GOLD FUTURES CHART IT LOOKS AND SMELLS LIKE A SHORT. http://www.buyitbuyitsellitsellit.com/OJ5.gif HUI----CG FUTES-- http://www.buyitbuyitsellitsellit.com/OJ6.gif

CRUDE FOR JULY CL N6---OK THIS CAN GO EITHER WAY. MY BIAS IS DOWN. 72.50 THE TRIANGLE BUY SIGNAL, WITH 69.50 THE SELL SIGNAL. THIS CHART HAS MADE 2 CONSECUTIVE LOWER HIGHS NOW. http://www.buyitbuyitsellitsellit.com/OJ7.gif ULTIMATE TARGET IS AT 66.00

TNX---TEN YEAR YIELDS DOJI FRIDAY ON ECO NEWS. WE HAVE A SLEW OF IT THIS WEEK ENDING WITH THE EMPLOYMENT REPORT FRIDAY. I'D LIKE TO SEE A RETEST OF THE 50 DAY AT 4.98% AND THEN CRACK THERE!

SPX---NICE HAMMER LOW ON WEDNESDAY WITH A NICE BOUNCE SO FAR. HAS R OVERHEAD AS DOES EVERYTHING BUT WE HAVE TO START SOMEWHERE. http://www.buyitbuyitsellitsellit.com/OJ8.gif THIS WEEK SHOULD BE FUN.

BOTH THE ES & NQ & YM'S HAVE BOUNCED HIGHER LAST WEEK OFF IMPORTANT LINES IN THE SAND. ONE OF WHICH IS 1245.00 ES. WE MUST NOT BREAK THAT TO THE DOWNSIDE. OVERHEAD R IS AT 1286.00 THE 20 EMA DAILY.
======================================================================================================

SEEMS TO ME WE ARE DATA DEPENDANT ALL THIS WEEK TOO, SO BE COOL OUT THERE. I STILL THINK WE HAVE SOME ROOM TO THE UPSIDE TOWARD THE 20 AND 200 EMA'S.
=====================================================================================================

THE PASSWORD FOR THIS WEEK IS rallytime oneword lower case letters
======================================================================================================

AAPL---64.00 THE BTL---63.05 THE SST---AAPL FILLED THAT 2ND APRIL GAP LAST WEEK AND LOOKS POISED TO RALLY UP TO 67.00 http://www.buyitbuyitsellitsellit.com/OJ9.gif

SNDK---60.00 THE BTL---59.00 THE SST---A NEGATIVE ARTICLE IN BARRONS MIGHT PLUNGE THIS STOCK EARLY I'LL BUY THAT DIP. IT FILLED THE APRIL GAP AS WELL http://www.buyitbuyitsellitsellit.com/OJ10.gif

EBAY---34.60 THE BTL---33.80 THE SST---IT WAS IN PLAY LAST WEEK WITH THAT DEAL WITH YHOO BUT I THINK IOF WE PULLBACK I WOULD SHORT THIS AT THE 50 DAY

BRCM---35.05 THE BTL---34.25 THE SST---FINALLY SHOWED A BIT OF LIFE AS IT FINISHED NEAR THE HOD. LET'S SEE IF IT CAN GET BACK TO 36-37 AREA THIS WEEK MARKET WILLING. http://www.buyitbuyitsellitsellit.com/OJ11.gif

MRVL---50.20 THE BTL---49.40 THE SST---EVER SINCE KLAC HAD THAT BACK DATED OPTIONS DEAL ALL SEMIS WERE SEEMINGLY DOA. THIS STOCK IS DEFINITELY DUE FOR A BOUNCE. http://www.buyitbuyitsellitsellit.com/OJ13.gif

RIMM---65.20 THE BTL---64.30 THE SST---I THINK THE SELLING IN THIS NAME IS WAY OVER DONE. IT TOUCHED THE BOTTOM OF THE 10 WEEK TRADING BAND ON P&F. I LIKE IT LONG

CELG---41.90 THE BTL---41.00 THE SST--- I AM UNDERWATER IN THIS BIO TECH BUT WILL DOUBLE SHORTLY AND EXTRICATE MYSELF WITH A PROFIT. THE NEWS WAS WAY TOO GOOD FOR THIS STOCK.

AKAM---31.90 THE BTL---31.00 THE SST---FELL OUT OF A RISING WEDGE AND GOT STUNG. FRIDAYS ACTION WAS A SHALLOW PULLBACK I LIKE IT LONG http://www.buyitbuyitsellitsellit.com/OJ14.gif

RMBS---27.55 THE BTL---26.70 THE SST---THIS STOCK IS DEEPLY OVERSOLD WITH SELLERS ALL BUT DONE. WATCH FOR A LIFT OFF IN THIS NAME SOON. http://www.buyitbuyitsellitsellit.com/OJ16.gif

BIDU---79.95 THE BTL---79.00 THE SST---IF THE MARKETS START TO PULLBACK AT ANYTIME THIS WEEK I THINK THIS STOCK IS GOING TO CRACK. WATCH FOR A PRINT OF 75.00 FOR PLUNGE CITY.

TZ00---31.60 THE BTL---30.80 THE SST---IF THIS STOCK BREAKS 29 IT COULD GO TO 14-15.00 AREA OVER TIME. THE CHART IS VERY WEAK. BUT IT HAS NOT BROKEN THE 50 DAY YET.

DELL---25.45 THE BTL---24.90 THE SST---GOT A BIG BOOST LAST WEEK WHAT WITH THAT DEAL WITH GOOG IT WAS BIG TIME NEWS THIS COULD HAVE MORE IN THE TANK.

SLAB---39.65 THE BTL---38.80 THE SST---THIS STOCK IS BASE BUILDING AND LOOKS VERY GOOD FOR A POP SOON. WATCH FOR NEWS OR UPGRADES THIS WEEK. http://www.buyitbuyitsellitsellit.com/OJ18.gif

RACK---39.95 THE BTL---39.05 THE SST---I LIKE THIS STOCK LONG HERE IT JUST BROKE OVER THE WEDGE LAST WEEK. http://www.buyitbuyitsellitsellit.com/OJ19.gif

FFIV---47.50 THE BTL---46.60 THE SST---DEEPLY OVERSOLD AS IT ALMOST ALL CHARTS FOLKS. DUE FOR A BOUNCE SOON SINCE IT HAD A GREAT EPS REPORT.

LRCX---45.50 THE BTL---44.80 THE SST---ANOTHER SLAIN SEMIS WITH BULLISH UPSIDE IF THE MARKETS AND THE SOX START BACK UP.

JOYG---53.45 THE BTL---52.60 THE SST---HAD GOOD EPS REPORT LAST WEEK AND SHOULD CONTINUE HIGHER MARKET WILLING.

OVTI---28.90 THE BTL---28.20 THE SST---DOING A BACKSIDE BOUNCE HERE UP TOWARD HARD R. WATCH FOR SELLERS THERE FIRST.

VLO---61.95 THE BTL---61.00 THE SST---THIS IS SET UP AS A NICE SHORT IF CRUDE PULLS BACK THIS WEEK. LOT'S OF R'S EVERYWHERE. http://www.buyitbuyitsellitsellit.com/OJ21.gif

NTAP---34.20 THE BTL---33.40 THE BTL---LOOKS VERY GOOD FOR A MOVE HIGHER IF THE MARKETS IS BULLISH THIS WEEK. http://www.buyitbuyitsellitsellit.com/OJ22.gif
======================================================================================================

THE PASSWORD IS rallytime for this week

OK WE HAVE A SLEW OF ECO REPORTS THIS WEEK ENDING WITH THE ALL IMPORTANT EMPLOYMENT NUMBER FRIDAY. THE CHARTS SUGGEST WE CAN MOVE A BIT HIGHER BEFORE WE SEE WHAT'S UP, OR DOWN? WEDS THEY RELEASE THE FOMC MINUTES AND THAT WILL BE MARKET MOVING FOR SURE. PLEASE SCALP AND TAKE PROFITS EARLY AND OFTEN.

CLASS MEMBERS CALL THE PATTERNS ALL WEEK FOR YOUR PRACTICE. AND SCALP EXACTLY AS I EXPLAINED IT OVER THE WEEKEND.

BEST OF LUCK TO YOU ALL THIS WEEK

REGARDS

JERRY & INNA














Jerry Olson
The Jog Group

 

[MrMoto_1]

Quit trading, go golfing Meter

Mr Moto

you are Spot on . 100 % correct. Trading during low volume and consolidation is very difficult. I have always avoided immediate open but I still trade the consolidation which is not all that clever. program traders are at best during consolidation and it feels like playing chess with a computer. My views were different years ago .

Grey1

Grey, I see and agree with your post on volitility, that is why ATR for position sizing makes perfect sense. I am wondering though if there might be a useful third element, for instance, market volume or chop??.

Generally morning makes for the best trading time of day (volume, probably), noontime because of lack of volume ( chop?) is generally pretty tough and afternoons are an improvement for traders.

It seems we have all had those days when the volume was significantly higher than normal and coincidentally we have had a superior day. We may have done the same things as any other day but got paid twice as much as usual! I have no hard facts to back up this observation but it seems true doesn't it?

Additionally there are days (or afternoons like yesterday and the day before) when in hindsight, we should have gone golfing because volume is so puny, ( or chop so mighty) that the market's behavior was not "normal".

I am thinking that if one had an indicator or a "meter" of some kind, it might be prudent to trade larger position sizes when volume was unusually strong and reduced lot sizes when the meter was in the red zone (due to lack of volume or presence of chop) even though ATR might be higher.

Any ideas out there for such a tool or meter???

 

[Grey1]

Grey, I see and agree with your post on volitility, that is why ATR for position sizing makes perfect sense. I am wondering though if there might be a useful third element, for instance, market volume or chop??.

Generally morning makes for the best trading time of day (volume, probably), noontime because of lack of volume ( chop?) is generally pretty tough and afternoons are an improvement for traders.

It seems we have all had those days when the volume was significantly higher than normal and coincidentally we have had a superior day. We may have done the same things as any other day but got paid twice as much as usual! I have no hard facts to back up this observation but it seems true doesn't it?

Additionally there are days (or afternoons like yesterday and the day before) when in hindsight, we should have gone golfing because volume is so puny, ( or chop so mighty) that the market's behavior was not "normal".

I am thinking that if one had an indicator or a "meter" of some kind, it might be prudent to trade larger position sizes when volume was unusually strong and reduced lot sizes when the meter was in the red zone (due to lack of volume or presence of chop) even though ATR might be higher.

Any ideas out there for such a tool or meter???

MR moto

if you use Trade station you then can use radar to give you different and dynamic ATR during different time of the day. Of course volume is a key and as you correctly said during the consolidation ATR be much lower than the first hour.

you are spot on that issue .

grey1

 

[Jerry Olson]

we have the emplyoment report at 8.30

stocks in play today are:

RIMM---AAPL---RMBS---CELG---HANS


good luck

 

[Jerry Olson]

good employment number this am

should bode well for a continuation fo the current bounce.

fed fund futures dropped like a rock

but we still haver a ton of eco reports coming out in june that could change that quickly...

there is little doubt the USA is slowing and the rate hikes are still in the pipeline and have not shown up yet

let's make some fast cash

 

[Jerry Olson]

Major Breakout

CELG just broke out here at 44.00 on P&F i am long at 43.00 as the roomies know.

this stock is going to 50.00 near term..

one of the best looking candlestick charts anywhere...

here's the candlestick chart as well sensational

http://www.buyitbuyitsellitsellit.com/OJ1.gif

 

[eurotrader52]

PALM, EXPD, TIE, BRCM, AAPL did well day #2 holds of partial position overnight

http://finance.yahoo.com/q/cq?d=v1&s=palm,expd,tie,brcm,aapl
All got the gap up at the open. Still Long TIE and got neat additional move of EXPD to 105! You don't need to be satisfied with getting a few cents here and there but holding through entire periods (i.e. 9:30 to 10:00, 2:00-3:00, 3:30 through 3:50) to capture reversal periods in their entirely)

 

[Jerry Olson]

Chart For The Spx

HERE'S THE SPX DAILY

http://www.buyitbuyitsellitsellit.com/OJ2.gif

 

[eurotrader52]

NEW shorts today: EBAY (33.41) SNPS, (19.82)YHOO (31.78)

Might be swing short EBAY is a favorite short candidate along with SNDK but missed the SNDK breakdown today. YHOO best to short after a BULL TRAP reversal whereupon the downward pressure reasserts itself. Likely to keep YHOO as short unless it retraces some of the drop at my stop area. CHANGE o DIRECTION chart formations on stocks in major downtrends are usually shortable when the original market direction reasserts itself.

 

[Jerry Olson]

Heading Out To Lunch

I like the markets higher later today and certainly up for the next 2 weeks...good luck all.
=========================================================================

(7:51 AM) Paltalk: Hi everyone. All room members are a dedicated group of professional daytraders. It does not matter what your level of expertise is since we are here to help you make a living everyday. We are scalpers for now looking to make a Days Pay. Good Luck Jerry
(7:51 AM) Paltalk: Redottext is currently on.
(8:11 AM) screenshot: GM ALL
(8:12 AM) screenshot: lets make $$$$$$$$$$$$$$$$$$$
(8:17 AM) dat-cat: GM
(8:25 AM) screenshot: L YM 70
(8:25 AM) screenshot: stop 50
(8:30 AM) mrblue_7: Nice trade
(8:31 AM) screenshot: out partial YM + 30
(8:31 AM) screenshot: BADABING
(8:32 AM) mrblue_7: Employment figures must have been good!
(8:33 AM) screenshot: YES VERY LOW
(8:33 AM) screenshot: BEST THING COULD HAVE HAPPENED FOR EQUITIES
(8:34 AM) screenshot: THEY ARE DONE RAISING RATES
(8:35 AM) screenshot: COULD SEE MANY TELL TALE SIGNS IN CHARTS
(8:35 AM) cashmarket: same ol wall street b.s.
(8:35 AM) mrblue_7: I thought today might be quiet, looks like another roller-coaster ride!!!
(8:35 AM) screenshot: TRUE, BUT YOU HAVE TO TRANSLATE IT INTO PROFITS
(8:36 AM) mrblue_7: Well, so far its looking like I should buy all pull backs all day long
(8:37 AM) cashmarket: they will pop it premarket and then sideway rest of day
(8:37 AM) screenshot: SHORTS WILL BE BURNED TODAY
(8:38 AM) mrblue_7: I'd like it to pull back 50 Dow points and do that all over again!! LOL
(8:38 AM) george1204: gm
(8:38 AM) cashmarket: the shorts and the longs are the same animal..the big banks...
(8:38 AM) Dan-NY: gm
(8:38 AM) ddtrader11: gm
(8:39 AM) brownbear_1: gm jer - CELG wheeee
(8:39 AM) brownbear_1: whooooo
(8:40 AM) wwwalker: what stock jerry
JerryO3434: celg
(8:40 AM) brownbear_1: holding
(8:42 AM) cashmarket: sndk daily 20 ema 59.53
(8:52 AM) cashmarket: sndk at wed close price and higher than yest high
JerryO3434: boom
(8:59 AM) screenshot: L EUR 33
(9:01 AM) bocarat: OJ did u sell CELG yet . I hold too at profit now
(9:02 AM) bocarat: tks
JerryO3434: i have 50 buck target
(9:04 AM) grizz_9: gm all
(9:05 AM) screenshot: OUT EUR +8
(9:05 AM) abcn1: Morning/afternoon all
JerryO3434: qcom
(9:11 AM) screenshot: L EUR 34
(9:13 AM) screenshot: ADD L YM 303
(9:14 AM) screenshot: OUT EUR + 5
(9:15 AM) screenshot: L EUR 35
(9:16 AM) screenshot: STOP 30
(9:18 AM) screenshot: OUT EUR + 7
(9:24 AM) screenshot: L EUR 30
(9:24 AM) screenshot: STOP 25
(9:26 AM) screenshot: OUT EUR +6
JerryO3434: MRVL STRONG
JerryO3434: RMBS UP'D TOO
(9:28 AM) screenshot: JERR DE JA VU ALL OVER AGAIN LOL
(9:29 AM) screenshot: L ER 42.30
(9:30 AM) screenshot: OUT ER + .50
JerryO3434: LONG RMBS AT 29.68
(9:35 AM) koza2: l boom .28
(9:36 AM) brownbear_1: go go
(9:37 AM) koza2: s boom.08
JerryO3434: SOLD RMBS AT 29.51
(9:38 AM) screenshot: L EUR 32
(9:38 AM) mplsrmt: boom
(9:39 AM) mplsrmt: ba boom
(9:39 AM) mplsrmt: hod
(9:40 AM) screenshot: OUT EUR-5
(9:40 AM) fst415: oj, AKAM holding up well too
(9:41 AM) fst415: iran news unsettling the mkt
(9:41 AM) wwwalker: jerry looks like they are setting up a bull trap jerry be careful guys
(9:43 AM) wwwalker: ok es testing gap lets see if it hold
(9:44 AM) harry120: sndk on a hammer one bar back bull flag
(9:45 AM) wwwalker: i have not made a tread today
(9:45 AM) wwwalker: trade
(9:45 AM) wwwalker: sorry
(9:45 AM) wwwalker: lets see if we can hold and grind up
(9:46 AM) wwwalker: look for the es to do a double bottom test here
(9:47 AM) fst415: watch SNDK
(9:47 AM) fst415: hooking
(9:47 AM) screenshot: ADD L YM 49
JerryO3434: celg
(9:52 AM) brownbear_1: beautiful
(9:52 AM) tdelia: I have no sound from headphones or speakers. all was well yesterday, any thoughts?
(9:53 AM) Nastradeer1_1: Reboot Tdel
(9:54 AM) tdelia: i did that, also checked all connections!?
(9:55 AM) grizz_9: amd tanking hard
(9:56 AM) wwwalker: broke gap support
(9:56 AM) grizz_9: what broke?
(9:56 AM) wwwalker: no l;ongs
(9:56 AM) mrblue_7: seems I got the retrace I asked for!
(9:57 AM) fst415: so much for the rally!
(9:57 AM) fst415: yep
(9:58 AM) grizz_9: rimm holding up
(9:58 AM) cashmarket: mrvl held well
(9:58 AM) wwwalker: jerry perfect set for this bull trap
JerryO3434: LONG RIMM AT 66.95 NO STOPS
JerryO3434: AAPL AT THE 200 EMA
JerryO3434: SOLD RIMM AT 67.14
(10:01 AM) fst415: factory orders -1.8% vs 2.1%
(10:01 AM) mrblue_7: Long YM 231
(10:02 AM) MMags1999: gm
(10:02 AM) MMags1999: got in the office late today..I hate that!
(10:02 AM) Dan-NY: Paltalck not working well here
(10:02 AM) screenshot: ADD L YM 26
(10:03 AM) Dan-NY: I pick AAPL from dbl Btm for 15 c,
JerryO3434: LONG RIMM AT 67.30
(10:03 AM) mrblue_7: Come on ---- gimme a bounce
(10:03 AM) Dan-NY: My Paltalck went down at the same time
JerryO3434: SOLD RIMM AT 67.42
JerryO3434: SELLERS ARE EVERYWHERE
(10:04 AM) mrblue_7: High TICK
(10:05 AM) grizz_9: up 360 right now
(10:06 AM) grizz_9: need to grow that 3rd hand
(10:07 AM) screenshot: badabing
(10:08 AM) screenshot: HERE WE GO
(10:08 AM) mrblue_7: partial 241 for +10
(10:09 AM) grizz_9: in appl at 25
(10:09 AM) cashmarket: qcom hammer 20
(10:09 AM) mrblue_7: Out 251 for +20
(10:09 AM) grizz_9: out at 31
(10:09 AM) screenshot: I'M LOOKING FOR 11300
(10:10 AM) screenshot: I'M PUSHING LOL
(10:10 AM) mrblue_7: I'm taking little bites today..
(10:10 AM) screenshot: NEED TO TAKE OUT 34 EMA
(10:11 AM) stann8: qcom showing some upside
(10:11 AM) MMags1999: yes
(10:11 AM) MMags1999: I am
(10:11 AM) koza2: y
(10:12 AM) grizz_9: dell trying for the 50 ema
(10:13 AM) mrblue_7: If it comes down I'm getting Long AGAIN
(10:18 AM) screenshot: HERE WE GO
(10:18 AM) screenshot: BARABING
(10:22 AM) screenshot: WE NEED TAKE 11260
(10:26 AM) screenshot: HEHHE
(10:26 AM) screenshot: YEP
(10:26 AM) screenshot: 11260 COMING
JerryO3434: long rimm at 67.75
(10:28 AM) fokjock: Jerry are you long on rimm with entry at 67.30?
(10:28 AM) fokjock: ok
(10:28 AM) fokjock: ok
(10:30 AM) fokjock: howzat
(10:31 AM) screenshot: BAMM
(10:31 AM) screenshot: 11260
(10:32 AM) screenshot: WE'SE A RAMPIN
(10:32 AM) Dan-NY: l AAPL.11
(10:32 AM) screenshot: 11300 AND WE RAMP BIG TO 11450
(10:33 AM) Dan-NY: out AAPL .21
(10:34 AM) devpsych: Wasn't there econ data due at 10:30?
(10:35 AM) grizz_9: akam holding at the 50
(10:35 AM) grizz_9: oops
(10:35 AM) mrblue_7: short YM 254
(10:36 AM) koza2: l sndk.24
(10:37 AM) stann8: yikes rimm
(10:38 AM) stann8: at the vwap now
(10:38 AM) fst415: MRVL hod
(10:39 AM) fst415: oj, no MRVL news on briefing.com
(10:41 AM) Paltalk: sreno reddotted by: JerryO3434
(10:41 AM) devpsych: All I can see is split to be announced 6/9
(10:42 AM) stevefi: dell slow grind up
(10:42 AM) stevefi: yes
JerryO3434: LONG MRVL AT 50.78
(10:44 AM) Dan-NY: out RIMM for +10
(10:44 AM) kb123: BOOM 32+
JerryO3434: SOLD RIMM AT 67.96 WEEEEEEEEEEEEEEEEEEEEEE
(10:45 AM) Dan-NY: out MRVL +10
(10:45 AM) fst415: SNDK
(10:46 AM) stevefi: anyone else having hicups with e-signal and laser?
JerryO3434: SOLD MRVL AT 50.92
(10:46 AM) fst415: SNDK pushing
(10:47 AM) mplsrmt: celg
(10:47 AM) abcn1: l rmbs .94
(10:48 AM) abcn1: cl rmbs .03
(10:48 AM) Dan-NY: BRCM look OK
(10:49 AM) screenshot: YM BABY
(10:49 AM) screenshot: 11300 11300 11300
(10:50 AM) screenshot: l eur 41
(10:51 AM) screenshot: OUT EUR + 5
(10:51 AM) harry120: if the futs go then RMBS looks a perfect set up
(10:51 AM) Dan-NY: AKAM at 200 ema
(10:54 AM) grizz_9: poss srt mrvl coming too
(10:55 AM) screenshot: L ER 39.90
(10:56 AM) screenshot: ADD ER 39
JerryO3434: 1282.50
(10:56 AM) abcn1: s sndk .05
(10:57 AM) Dan-NY: Jerr the short call on SNDK was good
(10:58 AM) abcn1: cl sndk .98
(10:58 AM) abcn1: ok
(10:59 AM) emg3emg3: celg jer
(10:59 AM) mplsrmt: celg near hod
JerryO3434: CELG MAJOR BREAKOUT
JerryO3434: AT 44
(11:00 AM) abcn1: l rmbs .19
(11:02 AM) abcn1: cl rmbs .27
(11:02 AM) Dan-NY: AKAM basing on 200ema
JerryO3434: http://www.buyitbuyitsellitsellit.com/OJ1.gif
JerryO3434: CELG DAILY
(11:03 AM) ferniee3: ty
(11:04 AM) Paltalk: ferniee3 reddotted by: ferniee3
(11:04 AM) screenshot: YM COIL
(11:04 AM) stann8: are you setting a buy stop jerry
(11:05 AM) abcn1: l boom.60
(11:05 AM) emg3emg3: you long celg jer?
(11:06 AM) emg3emg3: home run
(11:06 AM) abcn1: cl boom .47
(11:08 AM) Dan-NY: AAPL back to 200 ema
(11:08 AM) mrblue_7: out at 47 for +7
(11:12 AM) screenshot: ON MO TIME 11260
(11:14 AM) abcn1: l brcm .06
(11:15 AM) kb123: BOOM will test 33
(11:16 AM) abcn1: cl brcm 35.00
(11:17 AM) Dan-NY: I am calling lunch
(11:17 AM) cashmarket: akam trend down
(11:17 AM) Dan-NY: yes AKAM was nice short after breaking 200
(11:19 AM) delfin772: RIMM testing 20 EMA
(11:23 AM) abcn1: akam lod
(11:23 AM) Dan-NY: I am Long LNCH at 11.20 (lunch)
(11:29 AM) mrblue_7: sellers.......
(11:29 AM) cashmarket: futs falling out of bed here
(11:30 AM) grizz_9: akam, mrvl, aapl still dropping too
(11:30 AM) cashmarket: db qcom
(11:34 AM) cashmarket: aapl lod
(11:35 AM) cashmarket: qcom low 46.92
(11:35 AM) screenshot: l eur 40
(11:35 AM) stevefi: anyone shrt brcm?
(11:35 AM) cashmarket: rimm on 20
(11:41 AM) mrblue_7: Long YM 11239
(11:43 AM) grizz_9: brcm coming dwn to 200
(11:44 AM) mrblue_7: out -10
(11:44 AM) BarbaraT1: SNDk continues to be sold
(11:44 AM) grizz_9: had to move my computer...i was under that apple tree and getting pumbled
(11:45 AM) BarbaraT1: SMH lows
(11:45 AM) BarbaraT1: AKAM lod
JerryO3434: http://www.buyitbuyitsellitsellit.com/OJ2.gif
JerryO3434: daily spx chart
(11:52 AM) Paltalk: mrblue_7 unreddotted by: JerryO3434
JerryO3434: EVERYONE THE MIC IS OPEN
JerryO3434: I AM GOING TO LUNCH FLAT AS A PANCAKE
(11:57 AM) screenshot: ADD L YM 17
(12:04 PM) BarbaraT1: OVTI fighting the tape -- still green
(12:05 PM) mrblue_7: long ym 208
(12:07 PM) screenshot: PLACE YO BET.. PLACE YO BET...

 

[Jerry Olson]

Anyone Can Trade Just 500 Shares

quick trade RIMM today just usnig 500 shares

http://www.buyitbuyitsellitsellit.com/OJ3.gif

you do not need high lot sizes to make a buck

everyone have a great weekend

i am outta here

 

[eurotrader52]

BWNG picked up while waiting to cover YHOO, EBAY and SLAB

Another potential swing short is PHM for multiday breakdown to new lows however at this point in no hurry and looking to cover my shorts before the close. I will definitely be ALL CASH into the weekend although I do not scalp trade and consider myself a DAYTRADER (holding positions 1 hour to 2 days) for maximum profit. Average position would be anywhere from 1,000 to 4,000 shares. I feel that the ONLY way you can make mechanical trades is if you have DISCRETIONARY MONEY (i.e. money you can actually lose and not feel the loss in your day to day budget. I feel you need at least $100,000 but $200,000 to $250,000 is even better. I know it sounds like a lot but otherwise you will be destined to join the 95% of daytraders who fail to "daytrade as a profession". The 5% who succeed are simply those that can AFFORD TO TRADE for a living. This I see from 20 years experience both on the "street" and in European funds. The American Dream ( or European dream) is not unlike those that buy lottery tickets for years hoping for the BIG HIT, but it doesn't come. Use this thread WITH CAUTION and note that those that SEEM to do well have large cash reserves and so their "mechanical trades" are just a result of being able to lose without dire results to their lifestyle. This so-called "second profession" to supplement your income will be okay if your income already covers all your costs and miscellaneous to begin with. I've recently met a group of people from Saudi Arabia at our firm who were very keen on learning to trade. Well they had well over 7 figures to indulge this hobby! Those that can, trade, those that can't, TEACH.

Forget it if you think you can take your savings or Home Equity Loan to trade. I do work for a hedge fund in New York and trading my own account is more or less as a hobby. I DO NOT FEEL that most people can trade for a living simply because they are NEVER UNEMOTIONAL. Educational services prey on the dream of the 9:00 to 5:00 worker to get out of the rut but it never works that way. Unless you have $100,000+ that you can "do without" you WILL NEVER become a daytrader because EMOTION will always get in the way. That's just human nature.

 

[Jerry Olson]

Another potential swing short is PHM for multiday breakdown to new lows however at this point in no hurry and looking to cover my shorts before the close. I will definitely be ALL CASH into the weekend although I do not scalp trade and consider myself a DAYTRADER (holding positions 1 hour to 2 days) for maximum profit. Average position would be anywhere from 1,000 to 4,000 shares. I feel that the ONLY way you can make mechanical trades is if you have DISCRETIONARY MONEY (i.e. money you can actually loss and not feel the loss in your day to day budget. I feel you need at least $100,000 but $200,000 to $250,000 even better.

Forget it if you think you can take your savings or Home Equity Loan to trade. I do work for a hedge fund in New York and trading my own account is more or less as a hobby. I DO NOT FEEL that most people can trade for a living simply because they are NEVER UNEMOTIONAL. Educational services prey on the dream of the 9:00 to 5:00 worker to get out of the rut but it never works that way. Unless you have $100,000+ that you can "do without" you WILL NEVER become a daytrader because EMOTION will always get in the way. That's just human nature.

HI Euro

i have to disagree with you.

you do not need $100,000 to $250,000 in cash accts in order to make money daytrading

next emotions play a part of the equation but if your are a pro trader we have no emotions.

then if you have a solid trading platform like Laser you can simply execute a "bracket trade" with stops above and below for that trade all in a click of a mouse..

using Laser you can place %+$10,000 in the acct and they give 10-1 leverage on your money..why even bother with 100K

keep on trucking....

btw fwi i am a scalper period never hold for more than 15-20 cents a trade...love every minute of it......................... :cheesy:

 

[Jerry Olson]

Another potential swing short is PHM for multiday breakdown to new lows however at this point in no hurry and looking to cover my shorts before the close. I will definitely be ALL CASH into the weekend although I do not scalp trade and consider myself a DAYTRADER (holding positions 1 hour to 2 days) for maximum profit. Average position would be anywhere from 1,000 to 4,000 shares. I feel that the ONLY way you can make mechanical trades is if you have DISCRETIONARY MONEY (i.e. money you can actually lose and not feel the loss in your day to day budget. I feel you need at least $100,000 but $200,000 to $250,000 is even better. I know it sounds like a lot but otherwise you will be destined to join the 95% of daytraders who fail to "daytrade as a profession". The 5% who succeed are simply those that can AFFORD TO TRADE for a living. This I see from 20 years experience both on the "street" and in European funds. The American Dream ( or European dream) is not unlike those that buy lottery tickets for years hoping for the BIG HIT, but it doesn't come. Use this thread WITH CAUTION and note that those that SEEM to do well have large trading reserves and their mechanical trades are a result of big cash reserves that can indulge this high failure rate "hobby". Those that can trade, those that can't TEACH.

Forget it if you think you can take your savings or Home Equity Loan to trade. I do work for a hedge fund in New York and trading my own account is more or less as a hobby. I DO NOT FEEL that most people can trade for a living simply because they are NEVER UNEMOTIONAL. Educational services prey on the dream of the 9:00 to 5:00 worker to get out of the rut but it never works that way. Unless you have $100,000+ that you can "do without" you WILL NEVER become a daytrader because EMOTION will always get in the way. That's just human nature.

Btw i am in New York all the time what Hedge Fund do you work for???

Maybe i'll take you out for lunch...................on me!

 

[eurotrader52]

HI Euro

i have to disagree with you.

you do not need $100,000 to $250,000 in cash accts in order to make money daytrading

next emotions play a part of the equation but if your are a pro trader we have no emotions.

then if you have a solid trading platform like Laser you can simply execute a "bracket trade" with stops above and below for that trade all in a click of a mouse..

using Laser you can place %+$10,000 in the acct and they give 10-1 leverage on your money..why even bother with 100K

keep on trucking....

btw fwi i am a scalper period never hold for more than 15-20 cents a trade...love every minute of it......................... :cheesy:

Why not hold for more than $0.15? It seems there is fear of holding a trade that is a "dart throw" and jump out on any reversal. Why teach for a measly $50 when you are presumably making $200,000 or more 'scalping' your own account? Excuse me for being so doubtful but I'm 52, working in the markets for 30 years and have yet to meet a scalper who succeeds and yet teaches for such a small gain ($50 a month). Actually I do not have to disclose where I work since I do not claim to have worked with the best "futures traders in the business" nor do I have to give myself a "resume" and list of references since I don't want any money from the good folks on this forum (nor does Grey). Why are you here at all and not in the good 'ole USA? Is there a forum or company there where you came from?

 

[Jerry Olson]

Why not hold for more than $0.15? It seems there is fear of holding a trade that is a "dart throw". Why teach for a measly $50 when you are presumably making $200,000 or more 'scalping' your own account. Excuse me for being so doubtful but I'm 52, working in the markets for 30 years and have yet to meet a scalper who succeeds and yet teaches for such a small gain ($50 a month). Actually I do not have to disclose where I work since I do not claim to have worked with the best "futures traders in the business" nor do I have to give myself a "resume" and list of references since I don't want any money from the good folks on this forum (nor does Grey).

EURO

listen up...

i trade and teach my way....end of discussion.

now what i choose to do or not do is certainly none of your business thats for sure.

i have a long 10 year history of sticking my neck out calling trades and market swings...

i do not have to answer people,like you who seem to have an agenda here...

if you do not like this thread

then go somewhere else...

if you are 52 you act like 22 go grow up...

 

[eurotrader52]

EURO

listen up...

i trade and teach my way....end of discussion.

now what i choose to do or not do is certainly none of your business thats for sure.

i have a long 10 year history of sticking my neck out calling trades and market swings...

i do not have to answer people,like you who seem to have an agenda here...

if you do not like this thread

then go somewhere else...

if you are 52 you act like 22 go grow up...

Okay apparently I hit a nerve, each to his own. Have a good day I will post where I want because I enjoy Grey's posts and have nothing against you.

 

[Jerry Olson]

Okay apparently I hit a nerve, each to his own. Have a good day I will post where I want because I enjoy Grey's posts and have nothing against you.

euro

every once in awhile we post actual trades in our own accts

let's see your real trades showing all of us the money............................

and as far a hitting a nerve? you ujst do not have a clue about me or what we do here...so you need to correct yourself when you make false accusations...