(8:44 AM) Alert: This is a G rated room intended for a General Audience including minors. Offensive language is not permitted.
(8:44 AM) Alert: Hi , Welcome to TTT
redliontrader: GM all
(8:46 AM) Fulkdaddy: gm
redliontrader: running late... go caught up in a study about 200 day moving averages.. that I just sent out and posted on the members page..
(8:53 AM) les13436: gm
redliontrader: looks like all the eco data is inline
(9:04 AM) Fulkdaddy: yes, Art Cashin said the market is looking for reasons to go up
redliontrader: SPX values I am watching are 940.50 and 948...
redliontrader: anybody else got numbers?
redliontrader: I have SPX 923.33 as 200 Day moving average
redliontrader: That 938 area on ES looks good to watch
(9:23 AM) hibuck2: gm
(9:23 AM) ajayvee: g'morning
(9:23 AM) azags: gm
(9:23 AM) Fulkdaddy: gm Tom
redliontrader:
(9:24 AM) rekon8: gm
(9:24 AM) Pete45: gm
(9:24 AM) berniectx: gm
(9:25 AM) JR Roden: starting the day singing would be a new twist.
(9:26 AM) azags: yes it sounded like a different Tom yesterday
(9:27 AM) azags: I thought your advice was perfect starting Tuesday
(9:32 AM) eman11: Tom-you have been spot on with you short call this week. Great Job
(9:35 AM) hibuck2: give her the best from all of us
(9:35 AM) heath _71: please dont worry about us take care of Prisha
(9:35 AM) Fulkdaddy: Yes, Tom...you do a lot to help make us all successful..thank you!
(9:35 AM) eman11: Give prisha our best
(9:35 AM) azags: thanks Tom
(9:35 AM) berniectx: thank you Tom take care of your wife
(9:35 AM) JR Roden: Best of luck, I'll say a prayer for Prisha and you.
(9:36 AM) superman_786: any jews in the house?
(9:36 AM) heath _71: and if there are idiot
(9:36 AM) thomas_Poland: I am jew with cryptonite
(9:37 AM) heath _71: lol
(9:37 AM) thomas_Poland: we can always count on idiots
(9:37 AM) thomas_Poland: man
(9:39 AM) Pete45: Tom -best of luck to wife and Thank you for this mornning update.
(9:40 AM) JR Roden: TP said he thought we'd revisit 937 today.
(9:40 AM) JR Roden: Any times for it to hit there TP?
(9:47 AM) tomthetrader: Again this market does not allow you to keep profits very long short term as we have seen....this now RESISTANCE at 944 and sentiment GIDDY I would not go buying penny stocks and AAPL calls today
(9:48 AM) azags: Tom I am impressed with how cautious you have become recently
(9:50 AM) desertone: GM everyone !
(9:51 AM) tomthetrader: I wish I was one who could lie or just BS my way through this market but it is one in which honesty , hard work and trust in your experience should keep you safe and just one trade can double or triple your money in this atmosphere
(9:52 AM) berniectx: using the beta paltalk from the website working good so far
(9:52 AM) tomthetrader: I want to get us all set up for a possible big move in a sector or index wheras we can make a Really big trade ....not our $400 trade but a possible double or triple
(9:53 AM) jbljudy: Tom, my prayers go out to you and Prisha as they came in for me from the great group we have here. Thanks!
redliontrader: Aj.. I put up that market thrust again on the live charts.. see how we have already crossed.. I expect a lot of back and forth today on this indicator, not like y'day
redliontrader: JBL.. Welcome back!
(9:53 AM) jbljudy: TY
(9:53 AM) tomthetrader: So good to have you here JUDY ...we are so lucky to have you back ..thank you for your kind words and your strength
(9:54 AM) tomthetrader: Dave is the luckiest guy in the world .....
(9:54 AM) tomthetrader: He might not know it at times ...but he is !
(9:54 AM) jbljudy: I am the luckiest gal in the world!
(9:55 AM) Pete45: I will be waiting for that time Tom. I've bee on the side line for while now. Since I'm a part time trader and current market is too choppy for me to trade
(9:55 AM) tomthetrader: GreatMom ...great family ...You will never have things better ...Money means 0 when you have good women in your life !
(9:55 AM) tomthetrader: Ask Thomas ?
(9:56 AM) thomas_Poland: true
(9:56 AM) thomas_Poland:
(9:56 AM) tomthetrader:
redliontrader: NDX leading the way here... need 1493.80+ to make a new high..
(9:59 AM) tomthetrader: 1500 is the ish area where I think you will see a MAJOR FAILURE
(9:59 AM) tomthetrader: that is my next major set up
redliontrader: Dow has still not joined its sisters above the 200 DMA.. needs to close above 8722
(10:00 AM) tomthetrader: where we will be shorting or I will be 1493-1500 on a false break and back down to 1400 quickly by June 7-14
(10:00 AM) Fulkdaddy: Tom, you are correct, I am quite lucky...JBLJudy is a great mom
(10:00 AM) tomthetrader: Darn right ...I miss my Mom daily and dearly ....
(10:01 AM) thomas_Poland: in the int term there is very risky to go long
(10:01 AM) thomas_Poland: maybe only day trade but for a swing only down
(10:01 AM) thomas_Poland: IMO
(10:02 AM) Fulkdaddy: Thomas, you believe it is risky to go long over the next week or so, except for a day trade?
redliontrader: We are celebrating my Mom's 80th this week.. big family get together.. can't wait..
(10:02 AM) tomthetrader: Please give her our best
(10:03 AM) tomthetrader: As expected the market has turned over here as the penny stocks and call buyers had their 15 minutes
(10:03 AM) hibuck2: NYSE A/D +481
(10:04 AM) hibuck2: $PCRCO .75
redliontrader: all A/Ds in between the 0 line and the 2:1 + line
(10:04 AM) hibuck2: $TRIN .56 $TRIQE .60
(10:04 AM) hibuck2: $TNX 36.42
(10:05 AM) tomthetrader: seasonality over the next 10 days is pitiful for Bulls
(10:05 AM) tomthetrader: sentiment is pitiful for bulls
(10:05 AM) tomthetrader: historical precedents are Horrible for bulls
(10:06 AM) tomthetrader: does not mean we cannot go higher ..we will just need a ton of good news
(10:06 AM) tomthetrader: 944 as we predicted has been a short area
(10:08 AM) tcb66: Does anyone know the rollover day for index futures?
(10:10 AM) thomas_Poland: thursday in a week before OPEX week
(10:10 AM) thomas_Poland: opex is 19th
(10:10 AM) thomas_Poland: so on 11th?
(10:13 AM) dhmohan1963: gm
(10:14 AM) Fulkdaddy: gm
(10:14 AM) dhmohan1963: how is prisha doing any news from tom
(10:15 AM) dhmohan1963: i am soory did not check in morning
(10:16 AM) hibuck2: NYSE a/D allmost even adv 1448.00 dec 1461.00 -13
(10:17 AM) thomas_Poland: for day trade .. TRIN beeing low and going sideways is bullish
(10:17 AM) hibuck2: yup i hv $TRIN .52 $TRIQE .63
(10:17 AM) thomas_Poland: my indicators told me in the morning we will close positive today
(10:18 AM) thomas_Poland: I have NySE Trin at 0.69
(10:21 AM) hibuck2: i been told venders calculate diff I hv schwab street smrt pro
(10:22 AM) thomas_Poland: yes .. all data vendors suck .. some less but all do
(10:23 AM) hibuck2: I hv now $TRIN .48 $TRIQE .62
(10:25 AM) tomthetrader: Thank you DHMOHAN ...we will be OK ..Haveto have another procedure done on Tuesday unfortunately if she can get a bit stronger over the weekend ...but prognosis good
(10:35 AM) tomthetrader: Yes, stocks have seen a huge rally since March. But the S&P 500 hasn't even been able to sustain (so far) a move above its highs from just this past January, much less from November 2007 when it was trading at 1500.
redliontrader: 100% Cash, Traders, Main & IRA
(10:39 AM) tomthetrader: Nice 12 point range already in ES
(10:39 AM) tomthetrader: TOPPY ?
(10:40 AM) tomthetrader: I firmly believe we have troble with 944 for 2 weeks and if we can revist 888 it could make us all a good sum of money
(10:40 AM) tomthetrader: Those whom prefer to wait for a buy signal may have to wait til then
(10:41 AM) tomthetrader: for a sell signal ...we may get one today on a rally up to 944
(10:41 AM) thomas_Poland: I am looking at 943 also
(10:41 AM) thomas_Poland: in ES
(10:42 AM) Fulkdaddy: CELG looks really good here...just broke the downtrend line from the start of the decline from Aug, 2008
(10:43 AM) tomthetrader: I am sending out a e-mail for some longs to acquire in the Main fund .....
(10:43 AM) Fulkdaddy: Banks leading
(10:48 AM) hibuck2: $PCRCO .95
(10:48 AM) hibuck2: $TRIN .52 $TRIQE .76
(10:48 AM) hibuck2: $TNX 36.46
(10:49 AM) hibuck2: NYSE A/D +785
(10:49 AM) tomthetrader: very tentative market ..banks led down for 3 days now up a day ...not exactly powerful
(10:52 AM) thomas_Poland: I think that Atillas P index does not confirm bank rally
(10:53 AM) thomas_Poland: and PPT is stupid
(10:53 AM) thomas_Poland: they don't know where the life time trenddline is
(10:54 AM) thomas_Poland: and market will fall .. very hard ... some day
(10:54 AM) thomas_Poland: when 10k readers of xtrends will be broken
(10:54 AM) thomas_Poland:
(10:54 AM) thomas_Poland: he showed buss with bulls
(10:54 AM) thomas_Poland: later he showed a train with bulls
(10:54 AM) thomas_Poland: now he will show us a very big ship ??
(10:55 AM) tomthetrader: 933.25 e-minis ..we will short at 944
(10:55 AM) thomas_Poland: he made very good job in the bear
(10:55 AM) thomas_Poland: but doing what he does now is amazing
(10:56 AM) tomthetrader: shows alot of disrepect for Americans and the financial system which he should keep to himself ..he wouldn't be here without our system
(10:56 AM) hibuck2: NYSE A/D +1067
(10:57 AM) thomas_Poland: as said yesterday .. we got to Tuesdays lows
(10:57 AM) tomthetrader: and to call out Americans and call investors names is uncalled for in my profession
(10:59 AM) ajayvee: y
(10:59 AM) heath _71: fine
(10:59 AM) hibuck2: yup
(10:59 AM) energy2x: y
(10:59 AM) azags: y
(10:59 AM) heath _71: believe me we undersgtand
(10:59 AM) les13436: Good luck Tom, our best to Prisha, don'y worry about us, we will be OK.
(10:59 AM) JR Roden: No worries, some of us are a pain in the A*S without any good excuses.
(11:00 AM) eman11: Best Wishes to your family.
(11:01 AM) berniectx: again your character and humility are the reason I am here thank you and take care of your wife
redliontrader: .
Adding emailed positions to Main 5 positions, 10% each average prices.. check your traders corner on pv.ttthedge.com for updates
(11:03 AM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
redliontrader: Adding emailed positions to Main 5 positions, 10% each average prices.. check your traders corner on pv.ttthedge.com for updates
(11:03 AM) hibuck2: Tom I missed who said that about investors and americans?
(11:05 AM) azags: good luck Tom
(11:06 AM) azags: yes yes yes
redliontrader: .
BG, POT, DAG, DYY,OXY
(11:08 AM) Alert: Your last text messsage was not sent because it contained line feed characters or excess spaces.
(11:08 AM) hibuck2: good luck
(11:08 AM) Bert_TTT: Best wishes to you and your family
(11:08 AM) DE_TTT: Grumpy old men?
(11:09 AM) tomthetrader: Thank you all
redliontrader: take care Tom..
(11:10 AM) tomthetrader: Thank you for all the help RED ...You are the best ....keep up the good work
(11:11 AM) tomthetrader: Zags ...special thanks for your support and genourosity in our time of need ...you are very kind to our family
(11:12 AM) azags: Thanks Tom
(11:14 AM) tomthetrader: Thank you
(11:17 AM) obama78: hello from iraq
(11:17 AM) obama78: i have a question
(11:17 AM) obama78: any one can reply?
(11:17 AM) thomas_Poland: yes I can
(11:17 AM) thomas_Poland: shoot
(11:18 AM) obama78: thanks, iam an iraqi journalist , i need 10 thousands $ as loan , in two years i pay back the 10 thousands and the rofit
(11:19 AM) Fulkdaddy: go ahead and shoot, Thomas
(11:19 AM) thomas_Poland: maybe ask your doctor?
(11:19 AM) thomas_Poland: he will lend you money I am sure
(11:19 AM) thomas_Poland: this is the one in white
(11:19 AM) obama78: do you know a foundation or organization for that
(11:19 AM) thomas_Poland: thos two keeping your arms will not lend you money
(11:20 AM) thomas_Poland: and do not affraid of injection .. this will help you
(11:20 AM) obama78: which doctor?
(11:20 AM) thomas_Poland: suddenly you will feel as you have 20k
(11:20 AM) obama78: iam serious
(11:20 AM) thomas_Poland: me too
(11:21 AM) obama78: do you know a humanitarian organization for that?
(11:21 AM) thomas_Poland: LOL
(11:21 AM) thomas_Poland: anyone ?
(11:21 AM) redTest: obama78 was bounced from the room by redTest. If you want to learn more about the rules for this room, read the room rules on the groups page or contact the owner: tomthetrader
(11:22 AM) thomas_Poland: come on .. he only wanted some money .. and will give it back .. with profit !!
(11:22 AM) thomas_Poland:
redliontrader: sorry... nothing agains obama but he needs to focus on his trip..
(11:22 AM) thomas_Poland: right
(11:23 AM) thomas_Poland: every f....g time I have to look at the chat because I think someone is saying something interesting
(11:23 AM) thomas_Poland: and when I see and idiot I just cannot let it go
redliontrader: besides if he was the real obama he would need more than 10K try 10T..
(11:25 AM) berniectx: TP you should be a comic you make me laugh again thanks keep it coming
redliontrader: A/D lines have gone flat... i have put up the es futures to watch for a break out above that double top from overnight
redliontrader: on the live charts
(11:26 AM) thomas_Poland: bernie .. I hope I am a trader
(11:27 AM) thomas_Poland: but always try to make some fun as this market can eat us alive
(11:27 AM) thomas_Poland: so some good humor is good for me .. so in a way idiots help
(11:27 AM) berniectx: so do I but need some comic relief sometime and you provide with the idiots
(11:50 AM) DE_TTT: European Markets Closing Prices: FTSE: 4390.9 +7.5 +0.2%, DAX: 5073.4 +18.8 +0.4%, CAC: 3323.4 +13.7 +0.4%
(11:51 AM) tomthetrader: Thanks DE
(11:52 AM) tomthetrader: Just checking in ...934.00 ES QCOM leading chip comeback ..
(11:52 AM) tomthetrader: We are trying to see how strong this move back up to resistance is and will trade off our indicators
(11:52 AM) tomthetrader: we have gotten 3% off each of our sell signals
(11:54 AM) tomthetrader: Let me know if you need any clarification on positions ect....any of my thoughts going forward
(11:55 AM) tomthetrader: 936.00 ES here off a possible day trade double top
(11:57 AM) Austinipal: www.investac.org = quality F & I site, great returns
(12:00 PM) thomas_Poland: F and I ?
(12:00 PM) thomas_Poland: hmmm
(12:00 PM) thomas_Poland: porn?
(12:01 PM) tomthetrader: s and m is porn tp
(12:01 PM) thomas_Poland: oh ok
(12:01 PM) tomthetrader: f and i is fast and incorrect
(12:02 PM) thomas_Poland: good one
(12:02 PM) tomthetrader: still witty ....
(12:02 PM) TTTMichael: I can tell that it is a slow day in the markets.
(12:02 PM) thomas_Poland: we should really use some password here
(12:02 PM) tomthetrader: ung may rebound for a daytrade
(12:03 PM) thomas_Poland: I am looking to go long one last time today
(12:03 PM) TTTMichael: Looking for a meaningful intermediate term setup. Will have to wait.
(12:04 PM) tomthetrader: setting up nicely with a/d line
(12:04 PM) tomthetrader: rut holding back at rally highs
(12:05 PM) tomthetrader: 939.00 should be tested on a daily basis ...hope it is not the last time to short
redliontrader: Remember we are adding 10% positions in MAIN, average prices all day in BG,POT,DAG,DYY and OXY..
(12:06 PM) tomthetrader: yes and please use limit orders and do not chase
(12:07 PM) tomthetrader: we should take the high and low and divide by 2 to get a fair avg. price
(12:08 PM) eman11: Is there a certain price we should not pay higher than? I was waiting until SPX hits 930-931 before buying.
(12:09 PM) tomthetrader: i would stick to your strategy ...do not force any positions unless ...you are very bullis
redliontrader: DAG and DYY are going to be tough to be happy with an entry.. it looks like the others are going to give back some.. for my account I will add in 1/4 increments through the afternoon
(12:13 PM) Fulkdaddy: Tom, won't DAG and DYY pullback if the market corrects?
(12:13 PM) Fulkdaddy: If yes, why not wait to add? Worried the market may not correct?
redliontrader: Fulk.. I will give you my answer.. I will let Tom speak for himself.. First yes, the market may not correct.. if I knew for sure I would be 100% short here go outside and play and not worry about drawdown.. I agree with Tom, I do think we get a correction.. In the mean time as a "hedge" against sitting on our hands, and the possiblity that the Market will run away without us I am taking these longs.. the correction will most likely happen at a higher level than here so I am willing to try and get good entries on good stocks, taking an 8% stop risk for shorter term gains.. does that make sense?
(12:23 PM) Alert: Message was not sent. The message was too long or contained non printable characters.
redliontrader: Fulk.. I will give you my answer.. I will let Tom speak for himself.. First yes, the market may not correct.. if I knew for sure I would be 100% short here go outside and play and not worry about drawdown.. I agree with Tom, I do think we get a correction.. In the mean time as a "hedge" against sitting on our hands, and the possiblity that the Market will run away without us I am taking these longs.. the correction will most likely happen at a higher level than here so I am willing to try and get good entries on good stocks, taking an 8% stop risk for shorter term gains.. does that make sense?
(12:24 PM) Alert: Message was not sent. The message was too long or contained non printable characters.
redliontrader: Fulk.. I will give you my answer.. I will let Tom speak for himself.. First yes, the market may not correct.. if I knew for sure I would be 100% short here go outside and play and not worry about drawdown.. I agree with Tom, I do think we get a correction.. In the mean time as a "hedge" against sitting on my hands...
redliontrader: and the possiblity that the Market will run away without us I am taking these longs.. the correction will most likely happen at a higher level than here so I am willing to try and get good entries on good stocks, taking an 8% stop risk for shorter term gains.. does that make sense?
(12:26 PM) tomthetrader: also the AG market may fly as the broad market drops ..remember when we used oil as a hedge in the run up before ..same principle
(12:26 PM) tomthetrader: we made some huge profits long oil as the market dropped
(12:27 PM) jbljudy: Thanks Guys.
(12:27 PM) tomthetrader: now it would be nice to have the market fall and Ag take off
redliontrader: beautiful..
(12:27 PM) tomthetrader: this HEDGE or Pairs trade if balanced short IWM is a good way to attack a frothy market
(12:28 PM) tomthetrader: when oil went bonkers up we were 80% long 8 oil and gas stocks and cash in traders
(12:29 PM) tomthetrader: and made out well according to my records ...this could be the same type of PRE CRASH run up
(12:30 PM) tomthetrader: so a good mix of IWM puts with some commodity longs is my idea of a possible big play
(12:30 PM) tomthetrader: and shorting TECH very soon ...1500 ish NDX
(12:46 PM) hibuck2: maybe somebody can answer before this move in the /NDM9 and /NQM9 I had apprx 4.00 point diff I thought they should allmost the same?
(12:46 PM) hibuck2: High Tick +1164
(12:48 PM) les13436: Welcome back Judy, hope all is well.
(12:48 PM) hibuck2: like now they are both 1485.00
(12:48 PM) hibuck2: before /NDM9 was 1480.00 and /NQM9 was 1484.
(12:49 PM) hibuck2: does tell you anything ? future move/
(12:54 PM) tomthetrader: We spoke of the backwardation in ES U9 several weeks ago and explained how bullish it was ....then we sold it ..it ended up being the trade of the year that I take as a major learning lesson
(12:55 PM) tomthetrader: Futures are much less liquid than cash and the futures traders can be as wrong as right ...but when you get into a new trend ...you can make great money by buying the forward contracts like I recommended then got scared out of by the smae folks thatare saying to go long !
(12:57 PM) tomthetrader: So ...learn from me and play the odds and play small positions until we have a great edge ...right now the momentum is still pushing higher ...the fundamentals are about to push stocks lower ...today or tomorrow but for sure by Monday
(12:58 PM) hibuck2: thxs
(12:59 PM) jbljudy: Thanks Les, great to be back! All's well!
redliontrader: can't quite muster up through that 938 on es.. this next leg should do it?
(1:03 PM) thomas_Poland: hopefully
(1:05 PM) Fulkdaddy: Thanks, Red and Tom.
redliontrader: tp what happened? What does the seiko say?
(1:09 PM) thomas_Poland: I got long at 12:20
(1:09 PM) thomas_Poland: seiko said long 12:30
(1:09 PM) thomas_Poland: I was faster
(1:09 PM) thomas_Poland: but want to hold it till 943
(1:09 PM) thomas_Poland: or to breakeven
(1:12 PM) ajayvee: Naz A/D +650 Vol +2.4:1
(1:12 PM) ajayvee: NYSE A/D +1235 Vol +2.9:1
(1:12 PM) ajayvee: RUT A/D +661 Vol +2.6:1
(1:14 PM) thomas_Poland: quadruple top at 938???
(1:14 PM) thomas_Poland: come on .. die bears
(1:14 PM) thomas_Poland:
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(1:15 PM) tomthetrader: Yes...I wanted a retest here to see if the RUT and NAZ could break out ...NDX 1500 is really important ..I will start selling short NQ here
(1:16 PM) tomthetrader: I will buy NQ futures short and try to give equivalent in QID and QQQQ puts
(1:17 PM) thomas_Poland: Tom please wait
(1:17 PM) thomas_Poland:
(1:17 PM) tomthetrader: but we will go short in traders and let main fund go with 8% stops
(1:17 PM) thomas_Poland: 943 please ES
(1:17 PM) tomthetrader: it should equla out to your goal !
(1:17 PM) tomthetrader: equal out ?
(1:17 PM) tomthetrader: 1% is all you need ...Greedy ?
(1:18 PM) thomas_Poland: yes
(1:21 PM) ajayvee: are we still working with Jun puts or Jul?
(1:21 PM) hibuck2: high TICK +1055
(1:23 PM) tomthetrader: JULY puts now ..we are just 10 daysfrom EXP ...we may go out further if we think this is a TOP / TOP
(1:24 PM) thomas_Poland: I am out
redliontrader: nice trade tp
(1:24 PM) thomas_Poland: thanks
(1:25 PM) tomthetrader: If we continue to see this steady buying we will enter short by 3:00pm
(1:25 PM) tomthetrader: Great trade TP
(1:25 PM) thomas_Poland: today I shorted 9:50 .. but moved stop tto soon for breakeven
(1:25 PM) thomas_Poland: got long at 10 25 and made some points
(1:25 PM) thomas_Poland: and now third
redliontrader: i need to trade in my blonie for one of those seikos
(1:25 PM) thomas_Poland: and maybe the last one
(1:25 PM) tomthetrader: nice run
(1:26 PM) thomas_Poland: seiko gives me some times
(1:26 PM) thomas_Poland: and normally when I am out it means faster in this direction
(1:26 PM) tomthetrader: my Timex keeps ticking but is off a few hours ?
(1:26 PM) thomas_Poland: so still room for long
(1:27 PM) thomas_Poland: I still have a long for 2:00 - 2:25 time period
(1:27 PM) thomas_Poland: but this is a little late
(1:27 PM) thomas_Poland: as I think we are very very close to int term top
(1:28 PM) thomas_Poland: but we can still go to 1000 ... Atilla is stubborn
(1:28 PM) thomas_Poland: so if it sell off here maybe I will ttry the lastt long at 2:00
(1:33 PM) Alert: Whisper sent.
(1:33 PM) Fulkdaddy: Thomas, for intermediate-term..what time frame is that for you..a week or two months, etc?
(1:35 PM) les13436: Red: Did the P/W for the blog change??
(1:43 PM) tomthetrader: we will begin taking a short position in Traders
(1:43 PM) tomthetrader: 10% short in QID avg prices 1:45 -2:00pm
(1:45 PM) tomthetrader: 31.83 we will try to get 10% at 31.75 -31.85
(1:51 PM) tomthetrader: 31.80
(1:52 PM) tomthetrader: 31.79
(1:57 PM) tomthetrader: picked up some daytrade NQ shorts and NDX puts
(1:57 PM) tomthetrader: Have to give my Dr a "tip" I hope ...he is very good
(1:58 PM) tomthetrader: after we get the bills ...I will need a 10% move up or down !
redliontrader: 10 % short in traders @ 31.85 600 shares
redliontrader: QID
(2:04 PM) Fulkdaddy: Tom, do you think we break yesterday's lows on the way to 900? Or is this just a short day trade?
(2:05 PM) tomthetrader: I think we are topping out of this Bull Market
(2:05 PM) azags: no more bull market?
(2:06 PM) Freezinalberta: 31.83
(2:06 PM) tomthetrader: I don't know whether it is now or tomorrow gap up ...but I would like to see the NDX NQ break 1500 and hold before going long ...until then I will short up to 100% at 1492 -1500
(2:07 PM) tomthetrader: I think we have enough charaqcteristics of a new Bear market ...I would not be honest if I did not saywe could drop 20% from here
(2:11 PM) tomthetrader: But as long as we stay above 888 for the next 10 days we should be OK
(2:11 PM) tomthetrader: this next attempt down may surprise some folks
(2:15 PM) Fulkdaddy: thanks, Tom....great analysis
(2:17 PM) thomas_Poland: anybody .. 2:50 short
(2:17 PM) thomas_Poland: this is what I am watching now
(2:17 PM) thomas_Poland: if at all do anything
(2:18 PM) tomthetrader: I would love to say we are going to 1050 but our targets set back in march of 944 are met and we see no reason to chase past 944 and we think we can make more money shorting NQ from 1500
(2:19 PM) thomas_Poland: I think that your first prediction of July top can be true
(2:19 PM) thomas_Poland: but in the middle of july or so
(2:19 PM) thomas_Poland: after two weeks of selloff
(2:20 PM) thomas_Poland: it wwe make this scenario people will be shocked
(2:20 PM) les13436: Red: Did the P/W for the blog change??
redliontrader: no
redliontrader: sim me
(2:21 PM) hibuck2: NYSE A/D +1575
(2:21 PM) hibuck2: $PCRCO .88
(2:21 PM) hibuck2: $TRIN .75 $TRIQE .51
(2:21 PM) hibuck2: $TNX 36.90
(2:21 PM) thomas_Poland: TRIN is bullish all day beeing and staying low
(2:22 PM) thomas_Poland: a/d line good
(2:22 PM) thomas_Poland: TICK is weakening
(2:22 PM) thomas_Poland: p/C ratio neutral
(2:22 PM) thomas_Poland: that is my thinking
redliontrader: this weekend I am going to finish my study of bull vs. bear crossings on the 200 day sma.. a double top failure over the 200 day sma looked really bad
(2:25 PM) tomthetrader: XLV JNJ MA all down in a UP market ...HMMMMMM
(2:26 PM) tomthetrader: Agree : internals very very good
(2:27 PM) tomthetrader: Psych levels coming and breakout levels need catalysts ...do they goose the employment data to get a bubble or do they let it be and let the market "vent"
(2:28 PM) hibuck2: GS says 475 cons at I think 525?
(2:28 PM) Fulkdaddy: they will goose it
(2:28 PM) tomthetrader: SRS is looking attractive again
(2:29 PM) Fulkdaddy: There are revisions to all the governemnt numbers...down
(2:29 PM) tomthetrader: 10 day trade
(2:29 PM) Fulkdaddy: almost everytime
(2:29 PM) tomthetrader: yes ...reisions can't help earnings which will start to show in the next period
(2:29 PM) tomthetrader: revisions
(2:29 PM) Fulkdaddy: They are making things appear better than they are to keep confidence up...to hopefully pull us out of this economic malaise
(2:30 PM) Fulkdaddy: And next earnings season is a ways off
(2:30 PM) Fulkdaddy: Charts look so good...continuation patterns on the daily...breakouts
(2:31 PM) tomthetrader: Yes ....and MM have to perform with peers or they are fired and there is plenty of paper
(2:32 PM) tomthetrader: so the ingredients for a BULL move are there but fundamentals are not ...takeovers in here would be a game changer like wind river intc
(2:32 PM) tomthetrader: and tech takeovers
(2:32 PM) eman11: Tom I got your tweet about buying SRS at 2:30 What %?
(2:33 PM) tomthetrader: I would jump on board but stand alone earnings are nowat24 x and hard to make it up at -GDP unless productivity is up ..which it is but spending is not
(2:33 PM) tomthetrader: SRS off Book for speculators
(2:34 PM) tomthetrader: we will not put it on the TRADERS account ..only for SPEC accounts 10%
(2:34 PM) eman11: OK
(2:34 PM) tomthetrader: Not suitable for TRADERS
(2:34 PM) tomthetrader: I need to pay Bills and have some spec cash built up from Thomas' great plays
(2:35 PM) tomthetrader: so I amin some SRS and URE Puts
(2:36 PM) eman11: So you think SRS will go down?
(2:37 PM) tomthetrader: sorry ....SRS is a 2x inverse URE a 1x up real estaet
(2:37 PM) tomthetrader: real estate ....so buying puts on URE and buying SRS the same thing
(2:38 PM) JR Roden: FYI, DIA is trying to break through the uptend lines from this morning on the 5 min chart.
(2:38 PM) tomthetrader: Thanks
(2:38 PM) tomthetrader: looking atthe Q's J.R. you think they can break out here ?
(2:43 PM) tomthetrader: OCT 08 GAP ....NQ any thoughts on where we are ?
(2:45 PM) Fulkdaddy: Tom, I was just looking at that gap down on 10/3...filled it here
(2:45 PM) Fulkdaddy: Seems like it would be a pretty good resistance level...
(2:47 PM) eman11: Last earnings season approx. 50-60% of companies missed revenue, but beat earnings because they cut costs. Going forward the cost cutting will have less of an effect on the bottom line making it harder to meet the earnings estimates
(2:48 PM) Fulkdaddy: great point eman
redliontrader: Dow is right at its 200 day moving average.. this is its 3rd day of attempting to close above
redliontrader: 4th day sorry
(3:04 PM) tomthetrader: Great stuff fellas ...
(3:05 PM) tomthetrader: QCOM our FAVE chip is acting very well
(3:05 PM) tomthetrader: DE has to like the comeback in SMH SOXX
redliontrader: i have volume building stronger all day.. anyone else see that?
(3:06 PM) tomthetrader: yes...and I would suspect we start improve on price and assoult 944 and 1500 ES and NQ pre employment report
(3:06 PM) tomthetrader: which would get us a TTT Sell signal
(3:07 PM) tomthetrader: But if the selling comes in now and ruins the party we will have to go back to cash
(3:10 PM) thomas_Poland: 2:50 was the top for the moment but I cannot short this
(3:10 PM) thomas_Poland: I think higher tomorrow a little and selloff
(3:13 PM) eman11: Tom- Do you plan on holding QID overnight?
redliontrader: PPT to 944?
(3:20 PM) tomthetrader: Yes
(3:20 PM) tomthetrader: unless we get stopped
(3:20 PM) tomthetrader: stops moved to BREAK even on QID OK ?
(3:21 PM) desertone: TOM GS puts here something to consider? the ratio is put/call 1.25
(3:21 PM) tomthetrader: good idea ....GS likes to run it up ...I would rather do something like XLF puts that has GS in it
(3:22 PM) tomthetrader: I would not Short or Buy GS puts on this MOMO
(3:22 PM) tomthetrader: But I would buy XLF puts to JULY ITM
(3:22 PM) desertone: OK tnks!!
(3:22 PM) tomthetrader: YW Thank you for asking !
(3:23 PM) tomthetrader: support is 938 ESand is holding
(3:23 PM) tomthetrader: resistance coiled at 944
redliontrader: QID Stopped out 31.85
(3:24 PM) tomthetrader: Negative TICK divergance last hour ?
(3:24 PM) tomthetrader: we will attempt to reenter at the close ...Thanks RED
(3:26 PM) tomthetrader: again that 1500 areamuch like 1410 thatwe did well on should provide a good short set up in this 15 week uptrend
(3:28 PM) tomthetrader: pretty much as expected we will be overbought at resistance on a jobs number
(3:28 PM) tomthetrader: oh the humanity .......
(3:29 PM) tomthetrader: Likesomeone plansthese things out to KILL market timers ?
(3:32 PM) tomthetrader: Our man Angelo Mozillo charged formerly with illegal action ?
(3:33 PM) ajayvee: gee, he may lose that tan
(3:33 PM) azags: will he be able to get a tan in prison?
redliontrader: lol.. the tan man
(3:34 PM) tomthetrader: no pinstripes ....just bigger ...
(3:35 PM) tomthetrader: could that be THE THE THE THE TOP IN NQ ?
(3:35 PM) tomthetrader: That Spike came with a Climax ?
(3:35 PM) tomthetrader: 1491 ish
(3:36 PM) tomthetrader: exhaustion on Q's
(3:36 PM) tomthetrader: Very much ready to die a Hero's death
(3:37 PM) tomthetrader: Here we go GS and company
(3:37 PM) tomthetrader: S and P baskets and barrels and programs start to fly !
(3:39 PM) tomthetrader: let's see ...better than expected ECO employment news that will buy another month time to get revised ?
(3:39 PM) tomthetrader: before long it will be 2013 and we will be growing at 8% ?
(3:40 PM) tomthetrader: Just to double check could we update NQ futures quote ?
(3:40 PM) tomthetrader: Please ?
(3:40 PM) tomthetrader: NQ is at ?
(3:40 PM) ajayvee: 1491.75
(3:41 PM) tomthetrader: Thank you
(3:41 PM) ajayvee: 1492.50
redliontrader: i just stuck NQ's up on live charts for those watching
(3:41 PM) tomthetrader: Thanks
(3:42 PM) tomthetrader: 944 ES and 1500 NQ will bring back a bunch of bulls "I told you so" folks on the break down
(3:43 PM) tomthetrader: P/C better past 2 days
(3:44 PM) tomthetrader: Prishasays Hi and thanks you all for keeping me occupied !
(3:44 PM) tomthetrader: She is coherent now ...and appreciative of allthe e-mails ...she says she always thought I told you all I was single !
redliontrader: it's the least we can do to help here out.. tell her to get well
redliontrader: her
(3:44 PM) azags: That is great Tom
(3:45 PM) tomthetrader: She promises to get me back to my schedule ! I said I promise to get her back to her schedule !
(3:46 PM) azags: Tom that is pretty fast that she is reacting that well
(3:46 PM) tomthetrader: any chance we called a multi month High here ?
(3:46 PM) tomthetrader: Yes she had a walk and a meal
(3:47 PM) eman11: Good to hear that Prisha is doing well and in good spirits.
(3:47 PM) azags: Tom did you talk with Marty Zweig recently about the market?
(3:47 PM) tomthetrader: Yes
(3:47 PM) tomthetrader: He scaled back
(3:47 PM) desertone: That's a woman for U!!!!!!!!
(3:47 PM) tomthetrader: out of tech and financials
(3:48 PM) tomthetrader: Yes ...No man could handle what you ladies go thru !
(3:48 PM) tomthetrader: Marty isworied we repeat the commodity bubble
(3:49 PM) tomthetrader: thinks oil has to stop here or will kill consumer ...but is up in the air like all of us in the world recovery which now is entrenched in all stock prices
(3:50 PM) tomthetrader: thinks it is aclassic inventory rebuild so far nothing more
(3:50 PM) tomthetrader: sorry about my spelling
(3:50 PM) TTTMichael: Marty is ALWAYS worried about something!!!
(3:51 PM) tomthetrader: As usual he says "figure it out from there ...the tape doesn't lie..it will warn you and it hasn't done anything wrong "
(3:52 PM) tomthetrader: But we all suspect it is artificial which may actually be bullish short term ..he wants to see the bump up in II next WED
(3:52 PM) tomthetrader: as most will come off the correction kick if the market rallies more
redliontrader: Are we official on a buy of QID at close>
redliontrader: ?
(3:53 PM) tomthetrader: could this be a Multi Month High in NQ ?
(3:53 PM) tomthetrader: RED ...let's hold off until AH as there will be some manipulation into the close ...
redliontrader: Like it.. ok
(3:53 PM) tomthetrader: If everyone can wait until 4:15pm to get filled ?
(3:54 PM) tomthetrader: I hate to do thatabd rarely do ...but this is a rare case
(3:54 PM) tomthetrader: I wish I had a mic
redliontrader: i wish you could nudge the room when you send an alert
(3:55 PM) tomthetrader: but the problem I see is they will send it up and then down or oppo and we will get caught in a MOC problem
(3:55 PM) tomthetrader: I could send this
(3:55 PM) tomthetrader:
(3:55 PM) tomthetrader: As the BUY sign
(3:55 PM) tomthetrader: Thatis Thomas' friend CRUSH
(3:56 PM) tomthetrader: IS Buy QID after 4:05 pm and before 4:10 pm
(3:58 PM) tomthetrader: As I said they would run it up
(3:58 PM) tomthetrader: and they did !
(4:00 PM) tomthetrader: Put a bid in for 400 at 31.70
(4:00 PM) tomthetrader:
(4:02 PM) tomthetrader: Please let me know if anyone catches QID at 31.70
redliontrader: 1200 biding at 31.70 now.. top bid
redliontrader: ask 31.72
(4:03 PM) tomthetrader: we should get some by 4:15
redliontrader: all 31.70's filled.. top bid now 31.22
redliontrader: just kidding..
redliontrader: 31.69
(4:04 PM) tomthetrader: so everyone should have gotten there allotment 10% or 400
(4:04 PM) tomthetrader: shares
(4:04 PM) tomthetrader: we actually can get the rest in here RED to make 10% OK
redliontrader: yes.. if not they can fill now ok..
(4:05 PM) tomthetrader: Wanted to make sure we got 400 at 31.70
redliontrader: 700 shares in traders at 31.70 10.76%
redliontrader: Dow joined her sisters and closed above the 200 DMA
(4:16 PM) eman11: Are you looking to short NQ overnight if it hits 1500?
(4:20 PM) tomthetrader: Yes
(4:20 PM) tomthetrader: I will be the 1st one filled E !
(4:21 PM) tomthetrader: I will drive to the CME to get the 1st of those red hot 1500 NQ shorts
(4:22 PM) tomthetrader: almost 1000 TICK on close as we thought MOC orders pumped up the close to highs
(4:22 PM) tomthetrader: 1493.00 NQ
(4:22 PM) tomthetrader: we will set buy limits at 1499-1501 overnight
(4:23 PM) tomthetrader: Hope we get a gap up to get 100% SHORT AND ttt sell signal to make some profits
