Fluidity Trader Chat Room w/cynthia E. - Friday, June 7, 2013:

Transcription

1 Fluidity Trader Chat Room w/cynthia E. - Friday, June 7, 2013: Page Begin Page End Chat Roll Time Friday Eastern Time Zone 7:30 *** Hello Fluidity Team Traders Welcome! *** 7:30 *** DAILY TRADE TIP*** "I must develop my fortitude. I am happy with today, but I could improve. Guess I better double down on the studying! ~ PJ 8:27 forty1973: Good Morning Traders! 8:43 irishrover: morning all, NPR 8:43 mrandersen10: gm traders 8:48 lima: gm all 9:06 NPR: Morning Irish, All 9:09 irishrover: GM NPR, Alice and Q 9:10 alice: good morning all 9:10 NPR: Morning Alice 9:10 lima: gm Alice 9:11 alice: morning lima 9:11 alice: here for the morning 9:13 Birdy: good rainy morning 9:24 bru17: gm morning 9:25 traderken: will we gap & go off jobs, any comments? 9:26 Al: Which way traderken? Up or Down? 9:26 irishrover: that's the $64 Q. 80% of gaps fill. Anything can happen. 9:27 traderken: top of down chanel is 20 sma 1645 ish, fib 50% 1641 ish 9:29 traderken: gap fill needs about 10 points, 2min to bell 9:29 irishrover: I'm leaning towards it tries to fill some of the gap after the open. For example, 26 is a stack # and there's a POC at 28. 9:30 irishrover: POC at 30, also 9:31 irishrover: lower channel support at 28.5 area 9:31 irishrover: 1

2 9:34 irishrover: erg crossed below signal line and both are sloped down 9:35 irishrover: 9:36 irishrover: closed below channel on :36 irishrover: 3 candles out channel now 2

3 9:39 irishrover: CL near 25.75, resistance support near 26 pre/post non farm # 9:41 irishrover: lp 28 with a stop at 25. 9:44 irishrover: testing CL at :47 irishrover: 26 still acting as support so far. 9:48 irishrover: 9:49 irishrover: HW and wma acting as resistance for bounce of CL. 9:51 xroads: gm 9:59 irishrover: 2 min to C open. B open still not reversed to upside. 10:00 irishrover: out 32.5, :00 McFly: nice irish. 10:01 mrandersen10: great job 10:01 irishrover: C is a bull run. 10:01 irishrover: I jumped out when I saw C open below B. 10:03 irishrover: 3

4 10:05 irishrover: lp 34 10:07 irishrover: nice long signal on 3600 as ST sto retraced while LT sto remained in strong bullish zone. 10:10 irishrover: out 38.25, :19 xroads: distractions, /nq last to confirm over pre-market spike, probablye no trouble trending now, will try to catch any retrace on the /es 10:20 irishrover: net, net bullish, HW is still below DO. 10:21 irishrover: some resistance at R2 = :22 irishrover: lp :22 alice: out +5 10:23 irishrover: awesome Alice 10:24 alice: think it go back up 10:24 irishrover: I got long on wma test as support. 10:24 irishrover: internals looking toppy. 10:25 alice: have to take a friend to doctor, have a good day everyone 10:25 irishrover: You too, Alice, 10:25 irishrover: 5 min til D. 10:28 mrandersen10: take care alice 10:30 irishrover: 4

5 10:33 irishrover: out +1 10:34 McFly: Is there a way to RESIZE the posted image other than use of the scroll bar? 10:35 irishrover: Not that I know of. I'll have to ask Cyn when she get's back. Her's are great. 10:36 irishrover: wma still acting as support. 10:38 irishrover: I can do this, but then its hard to read. 10:38 irishrover: 5

6 10:42 irishrover: 6

7 10:46 irishrover: lp :48 irishrover: C was a bull run, but D had been an auction with a slight bias to upside. 10:51 McFly: Understood Irish. Big is clear and fine. 10:51 irishrover: :) 11:01 irishrover: out :01 irishrover: 11:02 irishrover: D looked above C and failed. E opened at POC, 36.75, and is a bull test run. 11:04 irishrover: Took a small loss since test run is to wma so far and internals and indicators are still in retracement. Interesting to see if E looks or takes out D high. 11:08 irishrover: Since D failed, I am short with a stop at :14 irishrover: 7

8 11:15 irishrover: E failed to look at D, so far, and is testing D open to for possible reverse of D open or rejection and move to new highs. 11:21 irishrover: out :22 irishrover: 11:30 irishrover: lp :30 alice: vpox :31 irishrover: 8

9 11:33 xroads: booking l :34 xroads: 42 I mean 11:34 irishrover: nice X 11:34 xroads: thx 11:36 ctp: 9

10 11:36 ctp: This looks like a rising wedge to me. It is bearish, isn't it? 11:37 irishrover: nice CTP 11:37 RMFJ: depends which way it breaks 11:37 RMFJ: often bearish 11:37 irishrover: as in bear flag. 11:37 ctp: LOL RMFJ 11:37 RMFJ: we're butting up against that descending trendline soon 11:38 RMFJ: I'm waiting for a pullback to go long into it 11:38 RMFJ: hopefully 11:38 RMFJ: :) 11:38 RMFJ: missed some good moves out at meetings this morning it looks like 11:38 ctp: not for me RM. I'm -3 11:39 ctp: Called the top way too soon 11:39 RMFJ: ahhh man 11:39 RMFJ: we'll lets find another good trade set up! 11:39 ctp: absolutely 11:39 ctp: breaking below the wedge right now 11:41 irishrover: testing POC at :41 ctp: I was planning on shorting 42, but am busy cleaning the garage for my daughter's graduation party. Tough to be dual focused 11:41 RMFJ: CL test maybe? 11:43 ctp: Irish, are you getting long here? 11:43 ctp: or are you long from up higher? 11:43 irishrover: long from :44 RMFJ: long :45 RMFJ: targeting 42 area hi 11:45 irishrover: was targeting :45 irishrover: VPOX at :46 RMFJ: assuming we can get there, i'm going to be closely watching how price reacts at that descending trendline 11:46 RMFJ: if we are able to push thru, could be sweet 11:46 RMFJ: suspect it'll test it a few times though 11:46 ctp: I am going to get long at :47 ctp: Long :48 irishrover: right to CL at :48 RMFJ: hoping they don't fade the bounce today into afternoon 11:49 RMFJ: internals just chopping sideways 11:49 ctp: I'm hoping the CL acks as support 11:49 RMFJ: looks like it is so far 11:50 RMFJ: your was better trade placement than I've got 11:50 RMFJ: good patience 11:50 irishrover: F looked above E and is failing, D did the same with C. 11:50 ctp: I also watch a real fast chart that looked like it was going to come down a little bit 11:51 RMFJ: 900 tick/ 11:51 RMFJ:? 11:51 ctp: 225 tick 11:52 RMFJ: oh wow 11:52 RMFJ: yeah I don't think I could watch that :) 11:52 ctp: I just use it for entries 11:52 PJ: where is your stop, below e open? 11:52 ctp: not for overall direction 11:53 RMFJ: mine is PJ 11:53 irishrover: structure is still net, net, net bullish with HW above B high 11:53 PJ: okay, thanks RMFJ 11:53 RMFJ: I'd really like us to push back over D hi's soon 11:53 irishrover: 1TF higher still intact 11:54 irishrover: not me, I'd like to wait a few hours. :) 10

11 11:54 RMFJ: haha 11:54 irishrover: I'd be happy to start closing candles back above wma 11:55 irishrover: CTP, what's the difference between a wedge and a triangle? 11:56 RMFJ: 3600 acting like its trying to resignal bullish 11:56 ctp: according to chartschool.com, a rising wedge is bearish and a falling wedge is bullish 11:57 ctp: a symetricla triangle is non directional and continuation. while an ascending triangle is bullish and a descending triangle is bearish 11:57 ctp: the difference is the angle of the lines 11:57 xroads: trading against the pres's speech 11:57 irishrover: but how do you recognize one instead of the other? 11:58 RMFJ: what's the prez talking about? when? 11:58 xroads: should say not trading 11:58 xroads: just about now 11:58 RMFJ: I bet he's going to say they've got comprehensive tax reform all figured out, the debt plan in place, and entitlement reform all hammered out 11:58 RMFJ: not... 11:59 xroads: lol 11:59 ctp: flat 12:01 xroads: I think healthcare and he is meeting with the chinese this weekend in CA 12:01 xroads: dont know if he is taking questions, that would be the risk 12:01 xroads: just starting 12:02 irishrover: out 37.25, :03 irishrover: sp :03 irishrover: 12:04 irishrover: erg crossed below signal line. 12:04 irishrover: wroing 12:05 irishrover: erg crossed below zero line 12:09 McFly: BHO will take one question at the end. 12:10 irishrover: ST sto below bullish zone. 12:16 RMFJ: so basically if your a terrorist you need to lean to communicate via carrier pigeon now 11

12 12:18 irishrover: about that NSA issue, have they been doing that since the Patriot Act was enacted by Bush? What's new about this? 12:19 irishrover: Do you think Bobby Simone from NYPD was a terrorist? He had homing pidgeons. 12:20 RMFJ: take out that G open please 12:24 irishrover: out :25 Queenie: :28 irishrover: I should just quit for today, still up nicely for day. 12:29 irishrover: H in 1 min 12:29 irishrover: looks to open below G 12:29 irishrover: lp :30 irishrover: H opened above G 12:30 irishrover: 12:31 irishrover: H is opening as bear test run. 12:31 irishrover: to POC at :31 irishrover: 12

13 12:33 irishrover: E and F are currently poor highs creating excess. 12:34 irishrover: time to correct that during H 12:34 RMFJ: did someone mention a VPOC above before/ 12:34 RMFJ:? 12:34 irishrover: yes at :34 RMFJ: k thx 12:35 irishrover: wma coming down to CL 12:37 irishrover: potential H&S on :37 RMFJ: been watching that 12:38 RMFJ: cause for concern right now on my long 12:38 irishrover: 13

14 12:38 Birdy: irish, 42.75? I have :38 irishrover: just repeating what someone posted earlier. 12:39 Queenie: I have also 12:39 Randyr5: 1hr 200ma is 36, basically the neck line 12:39 Birdy: k, not sure what day? 12:40 irishrover: I see from 5-28 on my histo. 12:41 irishrover: 6 TPOs wide here - prime chop zone. 12:42 mrandersen10: CL rejecting 12:42 irishrover: Makes me feel like a fish floppin' on the bottom of a boat. 12:42 mrandersen10: mini h&s forming 12:43 irishrover: looks like that on 14400, too 12:43 mrandersen10: think on this run 12:43 irishrover: or could be P formation. 12:44 Birdy: I have POC on 5-29, but not a VPOC on histo. 12:44 irishrover: structure suggests H&S though with excess in E and F 12:45 RMFJ: out :45 RMFJ: suck 12:46 irishrover: out 35.5, -2.75, sp :48 irishrover: 14

15 12:49 irishrover: gap fill to B high is :49 xroads: l :50 xroads: mean 35.75, cant type, worse that usual today :) 12:50 mrandersen10: nice catch 12:50 RMFJ: long :51 mrandersen10: AAPl hod 12:51 mrandersen10: oops wrong room 12:51 RMFJ: alllright AAPL 12:55 mrandersen10: wow nice 12:56 irishrover: 5 min to I 13:00 irishrover: 15

16 13:05 RMFJ: AAPL be cookin now 13:05 RMFJ: maybe it'll back a nice AAPL pie 13:05 RMFJ: bake 13:08 RMFJ: new breadth hi though a/d is still fading 13:21 RMFJ: another new A/D hi 13:21 RMFJ: sorry mean breadth hi 13:27 RMFJ: pace stinks now 13:27 RMFJ: chop suey 13:30 irishrover: 16

17 13:33 RMFJ: wma still acting as resistance it seems 13:37 RMFJ: time for some lift 13:52 McFly: cant go sideways forever...zzzz 13:57 irishrover: out :59 irishrover: I'm going to head out of here and find something more productive. Nice day, but this chop is killing me. I'll post new histo when K opens. 13:59 irishrover: is that perfect timing or what. 14:00 ctp: I'm betting we go back to DO and then go higher. Any thoughts on that? 14:00 RMFJ: out :00 irishrover: like it was just waiting for me to bail 14:01 RMFJ: today 14:01 RMFJ: I hate fridays 14:01 irishrover: 17

18 14:01 ctp: I'm with ya RM. I'm down 3 and looking to get back positive 14:02 RMFJ: this is retarded chop 14:02 ctp: I was up 5 yesterday morning and managed to give it all back by the end of the day, so today should work opposite, right? 14:03 irishrover: Plus 6 for the day, but it was much nicer at one point. Quitting while I'm ahead. 14:03 irishrover: 18

19 14:04 irishrover: so far, K took out J low, but stopped one tick shy of H low. To me, that spells chop as in P formation for day. Have a great weekend all. 14:05 xroads: still holdiing from earlier and good bounced that buying from 8:05 this morning is still holding up, I waited for that dip to the bottom of that buying since this morning thinking we might attack the highs again, but I dont think so now 14:05 NPR: Take care Irish...have a good weekend 14:05 xroads: good weekend to you too 14:06 irishrover: thx, see you all on Monday 14:12 ctp: lendar, I think your arrow is stuck... lol 14:22 xroads: out b/e, calling it a dwy 14:23 lendar79: no lol 14:24 mrandersen10: alice at the gym? 14:28 ctp: I hope so, I just got long at 33 14:30 lendar79: im still short... no my arrow is not stuck lol 14:31 ctp: lol 14:31 ctp: What's your target lendar? 14:32 ctp: Or just staying short into the close? 14:34 lendar79: plan was quite simple... buy on 50ma bounce and sell on emplyment numers pop 14:34 ctp: ah. good plan 14:35 ctp: Well, I hope you get your short continuation... AFTER I get my 3 points back long... lol 14:35 bru17: ctp if its a good plan why are you still long lol 14:35 ctp: I was counting on a short bounce of the DO 14:36 ctp: off 14:36 ctp: We will hit the downtrend line on the 3600 right around 36. I will reverse there 14:37 bru17: ahhhhh 14:50 ctp: Out

20 14:57 ctp: wow, wish I had stayed long... story of my trading. 15:02 bru17: well CTP you have good thinking any reason you left it 15:06 ctp: My signals said to stay long when I got out, but I asked God to allow me to get my 3 points back and He did, so I got out 15:06 ctp: Now I just need to find a new setup 15:06 ctp: It must have been the fear of being against Lendar on the trade... lol 15:07 ctp: I'm seeing a short opportunity here, anyone else? 15:08 ctp: dropping back below CL 15:09 ctp: Back up to then short 15:10 ctp: wow, quiet group 15:10 bru17: that is what I am referring to CTP don't allow others to infleunce you you have a brain and good instincts given by God; stick with them 15:10 ctp: ah, thanks 15:13 ctp: My daily success statement is: "Because of the mind that God has given me and the tools He has allowed me to recieve to study and analyze the market, I will take my 3+ points from the market today. God has blessed me and allowed me to become a great trader, and I will use what He gives me to bless Him and others." 15:18 ctp: Short :18 RMFJ: lol 15:18 RMFJ: I just went long 39 15:19 RMFJ: ruh roh 15:19 mrandersen10: waiting for retest of to short 15:19 RMFJ: that's my long target mr A 15:19 mrandersen10: great :) 15:21 ctp: Flat 15:23 ctp: That didn't drop like I wanted, so I will wait for it to move a little higher before going short again on that trade 15:24 RMFJ: man mr.softy is on a rampage lately 15:24 McFly: no energy after the big early move upward this morning 15:24 RMFJ: anyone long MSFT other than me :)? 15:24 mrandersen10: u and ballmer 15:24 lendar79: yes stay long msft 15:25 mrandersen10: o nice, you've done well! havent looked at that stock in awhile. 15:25 RMFJ: lol 15:28 ctp: Not sure why completely, but I'm feeling a short after this next little push higher that's coming, probably back at 39 where I went short the first time 15:29 ctp: RM, why are you thinking we may push to the 42 area? 15:29 mrandersen10: hoping for a flurry to the upside into the close to short 15:29 bru17: be careful CTP your not hypntizing yourself it sounds like positive thinking; that is how to become brain washed 15:30 RMFJ: b/c we bounced of the 61.8% on the day and the new ascending trendline from yesterday low to this morning low 15:30 RMFJ: suspect we'll retrace to hi of day which almost intersects with the decsending trendline from :31 ctp: bru, I'm not one that believes simply in the power of positive thinking - that removes God from the equation 15:31 ctp: I do believe that I can't have mental strength to trade without positive and biblical reinforcement 15:32 bru17: ok whatever you wish to me positive thinking is hocus pocus but that is simply my view 15:32 mrandersen10: here it goes 15:32 ctp: bru, have you ever read "Think And Grow Rich" by Napolean Hill? 15:32 RMFJ: come'on new hi's 15:32 bru17: I have and I had to put it down my brain hurt lol 15:33 ctp: I don't have the time, but I would like to write it from a biblical perspective 15:33 ctp: yeah, I hear ya 15:33 RMFJ: I am doubting we have the strength to push over that descending trendline today 15:33 RMFJ: but at least looking to test it 15:33 RMFJ: a/d line broke its descending trend about min ago 15:34 ctp: wow, that touch of 40 did not act like I anticipated 15:34 RMFJ: thought it'd pop more? 20

21 15:34 mrandersen10: still so much time 15:35 ctp: No, opposite 15:35 ctp: I thought it would run right back to and get more support, but it did nothing 15:35 RMFJ: bout to get wma crossing CL again 15:35 RMFJ: but CL is so flat, we may just chop here on out 15:35 RMFJ: we'll see 15:36 RMFJ: area is the 78.6% of the 4/18 to 5/22 move 15:36 RMFJ: hmmm no I'm wrong on that 15:36 RMFJ: its actually :36 bru17: TNA is only up $1 for an ES that is up 17 handles so that looks like a disconnect 15:36 ctp: not going that high today 15:37 RMFJ: is about the 78/6% of this weeks monday hi to yesterday low 15:37 ctp: good. thanks 15:38 ctp: I know I will kick myself in about 20 minutes for not going short right here at :39 bru17: CTP about how many trades do you make per day if I may ask 15:39 ctp: I try to stay within 3-5. Most days I do. Wednesday I had 6 trades 15:40 ctp: Made 9 points on those 6 trades though 15:40 ctp: How about you bru? 15:40 bru17: I used to way over trade found out all I did was give back my profits now I trade no more than 3 per day most days one or two 15:40 ctp: It all depends on what else I'm working on. I have a hard time trading with a drywall knife in one hand! lol 15:41 RMFJ: plus you get sheetrock mud on your computer 15:41 bru17: so your in construction 15:41 ctp: that too 15:41 ctp: yeah 15:41 bru17: nice 15:41 ctp: general contractor, but do a lot of self-perform right now the way the construction market is 15:42 ctp: No, not so nice... I would rather just trade :) 15:43 bru17: ok what area are you in 15:44 ctp: Michigan 15:44 bru17: ok i'm in southern calif where construction is very big 15:45 ctp: I'm not sure if Michigan still has the worst economy in the nation or not, but it did a couple of years ago 15:45 ctp: still not good 15:47 RMFJ: time for a $tick 15:48 bru17: well they did say alot of that is Detroit 15:49 ctp: the whole state, other than Grand Rapids, feels it 15:49 ctp: Double top on it's way? 15:49 mrandersen10: and here's the flurry 15:50 ctp: anyone with a short order at 42.25? 15:50 ctp: wow, way to hold alice! 15:50 ctp: she must be at the gym 15:51 xroads: well I got scared out and wouldn't take any drawdown, back to the day's highs, lol 15:51 mrandersen10: not placing a sell limit gonna watch price action instead 15:51 ctp: yeah, me too. got burned once on that today 15:52 mrandersen10: if this spikes down for some reason here o well 15:52 bru17: no news on monday or tuesday so it should interesting to see what markets does early next week 15:53 RMFJ: making a poor hi now if we don't push higher, no/ 15:53 RMFJ:? 15:53 mrandersen10: we'll probably fade on Sun night 15:53 ctp: agreed RM 15:53 ctp: wow, nothing 15:54 ctp: I guess higher into the close 15:54 RMFJ: out :54 ctp: nice job RM 15:54 mrandersen10: ^3.5! 15:54 mrandersen10: wish I followed along 21

22 15:54 RMFJ: gracias 15:54 ctp: me too 15:55 RMFJ: still net loser on the day however 15:55 ctp: not as bad as you were! 15:55 RMFJ: :55 RMFJ: true 15:55 RMFJ: 3 trades, oh well 15:55 mrandersen10: short :55 mrandersen10: 44 descending trendline 15:55 RMFJ: I missed the long at 33/34 area because I went to get a hair cut 15:55 xroads: looks like they may try to gap it again monday :) 15:56 ctp: 4 trades for me today :56 bru17: we have gone up around 48 handles from intra day low on thirsday 15:56 ctp: I know... crazy 15:56 alice: zxc- 15:56 RMFJ: I'm thinking we'll continue to see lots of volatility in June 15:56 ctp: Hopefully 15:56 bru17: makes sense 15:56 RMFJ: but rangebound between 1600 to the :57 ctp: Gotta run. Have a great weekend everyone. 15:57 bru17: bye all 15:57 RMFJ: see you ctp, have a good weekend 15:57 ctp: I can handle bouncing in that range 15:57 mrandersen10: have a great weekend 15:57 RMFJ: later bru 15:58 alice: back for close 15:58 RMFJ: making some points alice? 15:59 alice: y..+3 while gone and stopped out 15:59 xroads: nite 15:59 RMFJ: strong selling pressure at that t/l 16:00 RMFJ: see you guys 16:00 RMFJ: have a great weekend all 16:00 alice: nite all 16:01 lima: gn all, cu monday 16:02 mrandersen10: woohoo k bye! End of Chat Roll for Friday, June 7,