Free Trading Chat Room

A couple of us from a stock chat room that no longer exists decided to open a new FREE chat room where traders can hang out an exchange ideas. We are a small group but would like to get bigger.

Again - it is FREE and we do not bite.

The Stock Chat Room.

Trading Goddess Stock Blog

For those who do not know, I also post at The Trading Goddess Stock Blog Site. You can click on my name in the list of "Our Contributors" found on the left side of the blog.

Did someone ring a bell?

I posted this on the The Trading Goddess blogsite and thought it was good to do it here.

I have not been to doing too much posting here recently for two reasons - it is summer and frankly it has been too depressing. All the sectors - my four horsemen, commodity EFTs and commodity stocks have all been crashed of late but something happened this week.

On Tuesday when the markets started getting hit right after the opening, volumes became massive. The numbers of stocks hitting new lows I believe was a record but the markets did not break. On that day the Smart Dumb indicator showed a strong chance of a bottom and the following days it has rallied. This indicates at least in the short term, meaning months, bottom is in.

I know I post very simple charts. Sometime the charts even look like I draw on them with crayons(I have tried that but it is hard to get crayon off your LCD screen). But just look at the simple charts above using default indicators that big chart.com gives.

When looking for a bottom, I use the MACD, volume spikes and breaking of trend lines. I notes a bunch on the charts. We have the best looking ones in a very long while. In my personal IRA accounts, I have gone from 30% invested to 70% last week and I look to go 100% this week if we did not rally too hard on Monday/Tuesday. The indicators above do not work all the time but they are easy to use with very little time. I think they are great to use to time mutual fund purchases. I will also be going to 100% invested in my 401k for the first time in 18 months but there I am close to that most of the time because of stupid restrictions.

Good trading and good luck.

Does anyone trade like this? 4/19/2008

I do not know if I should try to trade this idea or not. It seems to me so many times a company comes out with an earnings report the street is not happy with. The stocks trades down a couple of percent and then soon after the open, the stock turns positive and runs. SLB did it on Friday and NUE did it on Thursday.
-
Does this makes sense on a large cap stock to put a buy order out there when the stock hit even and cancel it if it is not hit by 9:45 or 10:00? Comments?

Getting Ready to Buy 3/12/2008

The Bull/Bear numbers came out and the first time in a long time there are more Bears than Bulls. This seldom happens. Sentiment numbers are apart of the numbers used to come up with the Smart/Dumb indicators from at Sentimentrader.com - a great tool to figure out what is going on in the markets. Their Smart money indicator is mildly bullish but their dumb money indicator is insanely bullish. The difference of the two was only been greater twice in the last 10 plus years. I have been waiting for this for a long time. This may not be the perfect bottom but 3 months from now - we should be higher and a good case that in 12 months from now we will be higher. The only thing that could stop this is a major event like WWIII or a nuclear bomb being dropped on NYC.

KISS 10/28/2007

KISS - Keep It Simple Stupid or the first band I ever saw. As I stated before on this Blog, I have been looking at the currency market trying to figure out a good way to swing trade them. Someone mentioned why not try the 9/14 EMA cross over? So I put the moving averages on the EUR/USD and it looks very good. The person stated "just do not automatically buy and sell when the averages cross but when they look like they are, use your brain". In other words, read the chart at the time.
-
The chart goes back a year on a daily basis. If you started out that year long, then the first crossover looks to be about Christmas of last year. At that point, I would see there is a triangle pattern. I would give that pattern the benefit of the doubt. The trade would be to sell the long and go short about 1.3100 level.
-
The next trade would be the rounding bottom in January and February where you would get long again in the 1.3000 area.
-
The averages do not roll over until just above the 1.3500 area in mid May - nice gain of over 500 pips.
-
You nearly get a signal the first week of June but should cover at the end of June around 1.3400.
-
The next set of signals would have gotten you out around 1.3650 then short then long then short again for a couple of losses in July/August before finally getting you long at 1.3650 in mid-September.
-
You would still be long today and a head by maybe 2000 pips or $20,000 per regular size contract. At a couple of times, you may have a $2000 loss or watch $3000 in profits disappear and you need to figure out a Black Swan Stop Lossbut could it really be this simple (talking to myself) stupid?

Still can't upload charts 10/17/2007

The Big Mouth Stocks for tomorrow are PRGN, DSX, and GNK. All 3 are shipping stocks. This should be fun. As always I will be trying to short them tomorrow using the action of AH and tomorrows premarket as order placement. I was not aggressive enough today with the Big Mouth Stocks.
-
I have a doctors appointment (Ultrasound of my neck). Hopefully it will not interfere with too much of my trading day.
-
Peace

Barrons VS The Big Mouth 8/18/2007

I figured sooner or later Barrons would pick on him. It is frustrating recently that a lot of his picks have not had the same pop in post/pre-market as they once did. I am hoping he and his picks become lively again in September. The summer is not a good time to pick on his picks.
-
I have written down all his major picks over the last year and a half. The results I believe I could get if I shorted them based on my own rules are as follows:

January 2006 +4,000
February 2006 + 17,650
March 2006 + 16,000
April 2006 +11,000
May 2006 +7750
June 2006 +7000
July 2006 +1750
August 2006 +4750
September 2006 +5750
October 2006 +1000
November 2006 +5000
December 2006 +3750
January 2007 +5000
February 2007 +7000
March 2007 +7250
April 2007 +6250
May 2007 +7250
June 2007 +4750
July 2007 +2000
August 2007 +750 so far.
-
Some of the rules I use is he has to move it in the post-market during the show. I do not use any of the call in picks. Only his main ones hi-lighted. The stock must have shares to short. The trades are based on 1000 shares per trade or 5000 shares for stocks under $10. I figure this on the meat part of the move not the top and bottom ticks. I figure on a lot of the stocks I can do much better than what I write in my journal or the totals you see above. This is mainly because I may trade more than 1000 shares or pull off taking more than what I conservatively guess. I have traded a lot of these at times - changing my rules to better fit the situation and my own mental game. Also if it is a day in an up market, his picks make good buys and the first reaction to his picking it.
-
But you can see from above why I am so interested in them. The Big Mouths contract I believe is up at the end of October and CNN and Fox are going to try to get him. This will give him a new format and I hope - more stocks to play with. We shall see.

Monday Morning Thought 8/6/2007

This stuff on the Boob Tube drives me crazy. You are beginning to see more and more people state we are in a pattern where we sell off late in the week and than bounce on Monday and Tuesday. When too many people see the same pattern, then that is when the most of them will get hurt.
-
The stats do tell us that the majority of time when the Trin closes over 3.o on NYSE, we gap higher and close higher by more than 1.2%. A wonderful service that provides tons of stats like this is SentimenTrader.com. So this means two things, either we close lower today or well below the open or we rally the entire week and not sell off on Friday.
-
The other item of craziness in CNBC getting all excited about Crude at 80. We have had a good pull back in the oil market and the COT numbers show the commercial are super short Crude and they are the smart money. I think it is stupid to go against the smart money.

AKS 7/5/2007

I only did one trade today and lost a couple of happy meals. One of the things I am thinking about is to focus on one stock. My favorite right now is AKS. I pointed out in the above chart all of the possible buy points. I would compare each of these points with how the overall market is doing and how mother steel (United Steel - X) and some of the other steels were doing. I should have bought the first move because the market was stable and most of the other steels were moving up slowly. AKS was not trading that many shares at the time but spent enough time were a full position could have been put on.
-
I like to trade this stock with 12 to 15 cents stops and once I am up 10 cents bring to move the stop up. Most of the trades would have made money but only the first being a great trade. Usually I do not take trades late in the day.
-
The numbers - Gross -19 Net -23.50 and shares traded 1000

Dumb Friday 6/15/2007

I did not do much on Friday. The big mouth did not recommend any stocks. I missed the first steel plays. My head was too busy with HANS. I owned the stock in one of my retirement accounts and was sick of it going up and falling back down. I assume now that I sold my position soon after the opening, it won't go down.
-
My methods for finding stocks during the trading sucks. I am good at big mouth plays and following the steels but after that things get a little thin for me. I have used Pinoy's scan in TC2000 to produce a list. That list I import into Prophet.net so I can scan a large number of stocks in a short while. I still have not worked out the method yet that produces any results.
-
Another idea of mine is to used Pinoy list for swing trading in my TD account. Pinoy's list seems to produce a lot of stocks that fit in the short term Pristine method using the 20/40 day moving averages.
-
I figure I should be able on a regular basis produce days of 1 to 2k in profits just off of the methods I use now. I should be able to add to that another method maybe producing another 1 to 2k a day and I would be happy even thou I know I would have my off days where I lose a little.
-
The numbers - gross -59 net -69 shares traded 2000

Euro thoughts 6/8/2007

With the big break in the EURO (interest rates in US going crazy), I am now looking for the EURO to maybe make a bottom in the 1.3200 range instead. I would like to see a couple of more big down days followed by a sdieways action just like the decline in December of last year. That I think would be a perfect setup.
-
I also agree with MT on the idea RACK is setting up around 12 for a swing. It looks like a low risk trade with a lot more upside than downside.