Chat Logs 1/20

05:15:38 am skeed: gm
06:55:40 am Counterpunch: gm all
07:15:48 am FishOn: ZFGN perking premarket lol
07:52:42 am jtbtrades: Good morning
08:02:28 am jjg007: Good Morning Room
08:09:33 am jtbtrades: Coffee looking interesting here, next leg down perhaps…
08:30:08 am mhigg30247: Good morning
08:30:44 am mhigg30247: Wow…oil at 27.61
08:39:57 am offshorehunter: morning
08:41:38 am offshorehunter: another day, another huge gap lower
08:43:44 am Foth: gm
08:43:50 am mhigg30247: Given the economic climate and weakness of these 2 charts, one might want to consider shorts ON RALLIES of BID and TIF
08:45:39 am Adrian: gm
08:45:44 am mhigg30247: Stop over the swing high…smaller size, wider stop
08:57:03 am rickjaydub: eyeing this FSLR channel with this AM’s gap down
08:58:52 am offshorehunter: putting several charts on the twitter feed
08:59:12 am offshorehunter: LOCK daily chart on watch if this breaks 12.50, thats a big gap to fill
09:02:36 am offshorehunter: SBAC 60 min chart flag, like this short on the break of 89.50/90
09:04:40 am GLS: Morning folks
09:05:56 am brad: gm
09:07:58 am jmeds82: gm all
09:09:32 am offshorehunter: ALRM 60 min chart short on the break of support 15.44ish
09:12:02 am Canny4: GM all
09:14:22 am jtbtrades: gm
09:16:09 am Paul: gm
09:17:22 am juls7: GM
09:18:01 am Canny4: Let’s be patient out there and make sure you are looking at the big picture
09:19:29 am brad: NFLX daily. posted this chart late yesterday as possible ss setup near 118. not happening here at 109ish
09:26:28 am Canny4: Many of the extreme measures I look at in times like these are right at or surpassing all market corrections levels since 2009. I’ll be interested to see where the readings are after this all opens up.
09:38:16 am brad: still a very orderly tape here
09:42:20 am offshorehunter: NFLX 5 min chart like this short intraday on the break of 106
09:45:51 am offshorehunter: NFLX nlod
09:47:46 am GLS: XIV spiking, watching for lower high for a short
09:49:28 am offshorehunter: NFLX 5 min update filling the gap from yesterday
09:51:38 am mhigg30247: Michele? On NFLX..cover some at 102?
09:52:15 am offshorehunter: that level makes sense, but 5 min slow stochs has room
09:52:27 am mhigg30247: Thnx
09:52:44 am offshorehunter: and this is breaking the 200 day ma on the daily currently
09:54:09 am offshorehunter: next level down on the daily is 97ish
09:54:22 am Canny4: At this point I am on sidelines and waiting for a long signal
09:55:11 am Foth: I’m with you Tom
09:55:57 am Canny4: know the overnight lows on futs
10:00:10 am GLS: ZFGN, into the gap, resistance at 10, watching for lower highs for a short intraday
10:01:02 am GLS: Also premarital high of 10.99
10:01:55 am offshorehunter: SPX montly chart chart I am keeping an eye on for a possible support level at the trend line from 2009
10:02:11 am offshorehunter: premarital Brian 🙂
10:02:23 am Canny4: Highest opening mkt volume since drop started according to my numbers
10:03:28 am offshorehunter: NFLX nlod
10:05:16 am jmeds82: EGRX from tweet Michele 🙂
10:05:28 am GLS: Yea watching it now I see PBMD written all over it
10:06:05 am GLS: Unless it sets lower highs and unwinds prolly not a good play
10:13:37 am offshorehunter: SPX weekly chart
10:14:26 am offshorehunter: $VIX still no real fear as compared to previous moves lower
10:16:06 am offshorehunter: clearly we are extremely oversold here, stops must be in place on any short positions as a bounce can come at any time….but I would be very patient on the long trade……..this market is extremely weak and just like things can stay overbought, they can also stay oversold…..we don’t have to get the exact top or bottom…..the middle is nice
10:17:59 am offshorehunter: NFLX shewww
10:18:46 am offshorehunter: breaking 100
10:28:34 am offshorehunter: CYBR continues to act decent so far…….holding up well after last weeks rumor of a possible buyout
10:28:56 am offshorehunter: no setup there, but one I will be keeping an eye on thats been acting well for when a bounce does come
10:33:40 am Canny4: Overnight lows all just got taken out. Let’s see if we get some speed up.
10:40:33 am brad: nice on NFLX Michele
10:40:44 am offshorehunter: $25 crude not too far away
10:40:53 am Trnr395: OLED nice one from scan
10:41:06 am offshorehunter: that area was some support on longer term charts, whether that will support remains to be seen
10:47:53 am offshorehunter: $NASI longer term view…..a measure of extremes in the market, we are definately at extreme levels here, but you can see there is room lower
10:48:26 am offshorehunter: $NYSE same thing……at extremes but can always spike lower
10:48:39 am offshorehunter: $NYMO not $NYSE
10:50:01 am offshorehunter: ROVI is another that continues to act well too…..
10:50:56 am offshorehunter: TPX nlod, nice follow thru from yesterday
10:56:52 am PatS: wowsers
10:57:11 am brad: NFLX shew nlod
10:59:14 am Canny4: lotsa shew out there
11:00:11 am offshorehunter: WYNN brutal from yesterday…….that was another that had been acting well
11:00:34 am brad: LVS hitting new 52’s
11:00:44 am offshorehunter: I would like to reiterate this………..please please please if you are a newer trader and are unsure, SIT ON YOUR HANDS
11:01:00 am offshorehunter: we have all year for setups, the market is not going down all year
11:01:41 am offshorehunter: and if you are not using stops…….you will be sorry
11:09:39 am slee: GPRO holding up pretty well in these market conditions
11:12:11 am offshorehunter: NFLX 15 min chart update the lines always help to “see” the levels, nice bounce right off 97
11:17:23 am brad: NFLX weekly chart. bounce right of 50 ema there as well
11:17:52 am ret2014: I for-warned yesterday that I was away today. See market down crazy! 🙂
11:18:28 am Canny4: car horn honk 🙂
11:19:05 am diamonsinthedirt: wow NFLX; 2 nice trades both ways. nuts
11:29:02 am Canny4: So I will watch to see if XIV forms higher low
11:31:03 am offshorehunter: I will be in and out some over lunch
11:36:04 am Canny4: XIV 2 min
11:44:19 am stt2318: watchign ATV 8.5 all time frames long setup
11:47:52 am offshorehunter: SPX 60 min chart day is not over, however, starting to look bear flag here , if we consolidate near the lows odds favor another break lower
11:48:30 am Ant: here’s my SPX chat 1 yr -ish. I was on the head and shoulders team until the neckline got smoked today, my second line on august lows. What do some of you SPY traders have for levels below that??
11:50:03 am Ant: 1740-ish??
11:59:04 am offshorehunter: the H&S on the SPX target 1646ish
12:00:29 pm diamonsinthedirt: every time I look at DWTI, I think i should get long..and then I’m like “nah, it’s too high” then it moves another 75 points.
12:01:07 pm Counterpunch: yeah thinking is toxic
12:01:15 pm diamonsinthedirt: lol
12:01:18 pm Adrian: here’s my fib levels from yesterday Ant:
12:01:36 pm PatS: ive noticed a couple utility names have held up nice
12:01:38 pm PatS: like ED
12:02:14 pm rickjaydub: LABU approaching highs – relative strength compared to QQQ today
12:02:51 pm rickjaydub: big divergence today btw GILD and CELG
12:09:32 pm Adrian: it broke through the 1.61 fib on the 15min and that’s bad in the fib world.
12:11:06 pm Ant: I was gonna pm angela, but its lunch. Several months ago, DWTI was 168 and I was having a serious look at longing it. With my dollar difference (Canadian) IT would have cost me about 2g’s for 10 shares. I chose not to take it, too much risk for a small account, dollar was looking weak, etc…..todays price puts me at a hindsight profit of $300/share……I didn’t want that anyways….
12:16:16 pm diamonsinthedirt: lol anthony. no. who would want that ?!
12:20:22 pm Ant: lol…i just re-read my post and feel like a twitter furu….
12:21:17 pm Ant: SPX right @ the August lows……
12:21:50 pm chewy328: i was trying to warn people to buy dips UVXY not s/s and got gagged ah well try to do something nice
12:22:49 pm dpetro: DGAZ thru previous highs
12:23:40 pm mjrauch: SBAC 52w low
12:25:42 pm Canny4: getting a little less orderly
12:29:11 pm PatS: nice trade chewy i wussed out UVXY long earlier
12:29:55 pm chewy328: thanks P
12:29:59 pm PatS: i guess comcast just died everywhere
12:30:23 pm PatS: website down, i cant access my internet at home, guess i cant ask if anyone else uses them and cant access the internet..
12:30:46 pm chewy328: been having bad lag on TOS not sure if its the internet
12:34:10 pm PatS: gonna long some UVXY here again if you draw support TL from 11:30 this am
12:34:12 pm PatS: just hit it
12:34:18 pm PatS: entered at 57.5
12:35:38 pm chewy328: this uptrend line def in play, if we break below god help us all
12:36:01 pm Counterpunch: just stfp
12:37:46 pm chewy328: nice grab P
12:38:52 pm PatS: :up
12:38:56 pm PatS: out haldf
12:40:53 pm PatS: out all impatience is not a virtue
12:43:29 pm wickerparkam: Just a heads up for anyone trading levered ETFs with longer term options, I want to make sure you’re least be aware of the following non-greek risk: UBS just announced mandatory redemption of their 2x levered MLP ETF (MLPL), and there are certainly rumors others may do the same with levered ETFs. Redemption = ETF stops trading on a certain date = implied vol goes to zero so all the premium leaves the options. Just a friendly PSA 🙂
12:44:21 pm mhigg30247: Thnx wicker..good info
12:49:39 pm offshorehunter: nice perk on the VIX
12:51:21 pm skeed: Just a thought for anyone with a long term long portfolio …. If you have not cashed out already. Make sure you have a plan for it…. hedging or cashing out part etc. Do not want to raise any alarm bells just want ppl to have plans.
12:51:52 pm Ant: Literally just did that skeed,lol
12:52:00 pm GLS: Since it’s still lunch, wanted to share my thoughts on ZFGN short intraday
12:52:14 pm offshorehunter: so many were looking for a bottom here ……..trying to catch a falling knife……we will get a bottom at some point, no reason to guess where that will be
12:52:27 pm chewy328: oops sorry i did not get gagged in this room, did not mean to imply that, thanks M
12:52:29 pm GLS: very nice signal and opportunity on the 5 min
12:52:56 pm Ant: I got out of my long term SPY etf’s at the violation of the August lows
12:53:06 pm GLS: Always 20/20 looking back, but thought I would share
12:53:32 pm brad: I will say this from managing longer term money in the past
12:55:46 pm offshorehunter: TWTR r/g
12:55:54 pm offshorehunter: off rumors on TWTR
12:56:05 pm brad: If you are going to sell, make sure you have a plan when you will get back in. I used to asked clients this. “when are we going to get back in?” Usually the response was when things feel better. Many got out in 2008-9 at spx 1000 and watched us go to spx 666 but never got back in until much higher than they sold or never at all.
12:56:35 pm brad: that is all
12:58:42 pm chewy328: thanks B for me I’m interested in scaling back in between spx 1775 – 1800 as to a bounce
12:59:06 pm ret2014: Thanks brad. Must say that 2008/2009 was best opportunity I let slip by.
12:59:16 pm offshorehunter: LABU nhod
12:59:41 pm Canny4: Volume has picked up all morning it is very across both NYSE and Nasdaq
01:05:19 pm offshorehunter: XIV/SVXY both crossing higher on the 5 min charts
01:12:02 pm offshorehunter: VHC 60 min chart thats been acting decent considering the overall market
01:13:54 pm Psycho: CMRX held up really strong last couple sessions
01:13:57 pm rickjaydub: HRTX a bit schizo today
01:15:24 pm chewy328: eyeing this UVXY here on a SPY failed bounce
01:21:52 pm chewy328: trailed my UVXY stop up to 57.50
01:22:52 pm offshorehunter: so stepping up on my soap box here for a minute to do some thinking outloud……..
01:23:11 pm PatS: **Crowd gathers**
01:23:44 pm brad: Michele emerges from the bunker in robe with cloak
01:23:55 pm Counterpunch: lol
01:23:57 pm chewy328: here ye here ye
01:24:09 pm offshorehunter: the markets have not been “normal” for many years now……….its not normal to keep interest rates at zero for such an extended period of time, we had 3 rounds of QE which has benefited the markets……..that has/is being taken away
01:24:38 pm offshorehunter: the markets need to find a new “normal”
01:24:59 pm offshorehunter: or they way they used to be before the fed made a mess of things
01:25:54 pm offshorehunter: which is this the markets go up and they go down…………….and now that much of the artificial support is leaving the markets will need to find their own footing without the help of the fed
01:26:37 pm offshorehunter: and then on top of that we have other issues to contend with ……..oil, weak growth out of china, weakening growth here
01:27:23 pm GLS: ZFGN starting to make higher lows on the 5 min, could be setting up a ABCD type pattern for eod move
01:28:22 pm offshorehunter: so as traders we need to continue to adjust and be patient for what makes sense……….again we do not need to trade all of the time…….we need to observe and learn from the information the market is giving us now
01:29:04 pm offshorehunter: I think we will have opportunities both long and short this year multiple times
01:30:14 pm offshorehunter: the big change is that for several years now the bounce has been rewarded and the bears have gotten their asses handed to them time and time again
01:31:16 pm offshorehunter: so what I am saying is that the nature of the markets changing from what we have had for several years, its not bad, just different
01:31:42 pm offshorehunter: stepping off the soapbox
01:32:16 pm offshorehunter: LABU r/g
01:32:30 pm Adrian: :up
01:32:53 pm offshorehunter: just getting lots of ?? regarding where the bottom will be and just wanted to get some of my thoughts out there
01:33:19 pm GLS: Appreciate it Michele!
01:33:23 pm chewy328: i got chills
01:33:46 pm offshorehunter: ha hardly chill worthy, just putting out my 2 cents on things
01:34:17 pm jmeds82: “we’re not worthy” haha lil Wayne’s World throwback
01:34:27 pm Doctur44: always appreciated!
01:34:50 pm chewy328: now im rethinking my 1775 entry
01:35:02 pm offshorehunter: like SVXY long thru 33.40ish intraday idea
01:37:12 pm Canny4: vwap on UVXY and XIV have been stubborn
01:37:51 pm Canny4: SPY too
01:37:55 pm offshorehunter: IBB nearing r/g
01:38:02 pm offshorehunter: small caps still laagging
01:39:21 pm offshorehunter: XIV like it long tur 17.10 intraday
01:39:26 pm offshorehunter: thru
01:39:53 pm chewy328: nice SVXY thats why i never bet against M
01:39:54 pm offshorehunter: SVXY thru
01:40:29 pm rickjaydub: huge push in cheap spec bioland last 60 mins
01:41:11 pm GLS: ZFGN pop thru vwap, still acting well
01:41:32 pm rickjaydub: JBLU r/ga
01:41:34 pm rickjaydub: r/g
01:44:40 pm offshorehunter: TNA like this long on a break thru 40.90
01:44:44 pm offshorehunter: tight leash
01:44:49 pm Doctur44: NUGT taking off
01:46:52 pm offshorehunter: SVXY 5 min chart
01:47:41 pm offshorehunter: XIV 5 min chart
01:51:36 pm offshorehunter: ROVI trigger
01:51:59 pm offshorehunter: TWTR nhod
01:52:58 pm jmeds82: NFLX non stop
01:53:08 pm GLS: ZFGN speeding up testing 10
01:53:22 pm Psycho: Amzing opportunities in this action if you are patient enough
01:53:57 pm diamonsinthedirt: well looks like I sold that NFLX a wee bit too soon
01:55:52 pm offshorehunter: LABU nice off the r/g move
01:58:55 pm rickjaydub: DKS making a nice move here also:
02:10:16 pm offshorehunter: RUSL on watch , perking some thru 6…..leveraged long russia etf
02:11:12 pm offshorehunter: UWTI perking
02:11:56 pm offshorehunter: UWTI 60 min chart long leveraged etf on watch
02:13:53 pm skeed: CL $1 rip so far off the lows into close shew.
02:22:25 pm brad: Lots of opportunities both ways
02:27:10 pm Doctur44: NUGT keeps on going
02:37:09 pm offshorehunter: UVXY intraday idea long thru 55.25
02:37:26 pm Counterpunch: That ramp on SPX used to be an EOD move…lets see if we can take today’s lows within an hour and a half lol
02:49:11 pm TraderGash: Anyone who traded MDBX on the way up or down, scammer Vinnie Mehdizadeh has moved on to PNPL and is already building a chart. Look at the last five years of MDBX to see what Vinnie can do with PNPL. No, its not split adjusted, he did pump it up to $100! Violent swings are possible. I have no position, will eventually build a box for shorting.
02:53:42 pm offshorehunter: TraderGash………….this is not a message board…… if you have a trade setup on that like a chart you would like to share feel free
02:57:00 pm offshorehunter: UWTI testing trend line resistance
03:05:31 pm rickjaydub: BABA cup and handle on 10s intraday
03:06:16 pm rickjaydub: DKS bit more
03:07:15 pm L1v3rm0r3: Holy bear bounce batman!
03:07:43 pm rickjaydub: FSLR updated never took it as a reentry in to the channel but one to keep on watch
03:10:54 pm offshorehunter: TNA 15 min chart update so far so good
03:18:30 pm offshorehunter: ROVI nice, nhod
03:18:49 pm offshorehunter: RUSL nhod and trigger hit
03:20:29 pm offshorehunter: ROVI daily chart update
03:20:41 pm Majkl2: BLDR nhod
03:21:13 pm offshorehunter: :up
03:21:33 pm Canny4: Nice reversal
03:21:53 pm Majkl2: + BLDR daily
03:22:11 pm offshorehunter: big turn off the lows in the market internals, although not positive yet I hope they can get this to stick for a few days
03:23:32 pm offshorehunter: SPX daily chart off the Oct 2014 lows so far
03:24:16 pm offshorehunter: 1900 would be the first main resistance and then 1950, which is where the market failed before
03:25:21 pm Psycho: Sick reversal and rediculous volume to come with it
03:25:43 pm offshorehunter: XIV 5 min update nice retest earlier of the 17.10 breakout level
03:26:18 pm offshorehunter: SVXY 5 min update look at XIV , just leveraged
03:27:05 pm PatS: I think they are the same michelle
03:27:09 pm Canny4: One might call that text book
03:27:16 pm offshorehunter: IBB 4 hr chart big move thru trend line resistance
03:27:33 pm PatS:
03:27:58 pm offshorehunter: yep sorry Pat , thanks
03:28:05 pm PatS: sry dont mean to call you out on it.
03:28:21 pm offshorehunter: no worries, got to keep me in line 🙂
03:29:39 pm offshorehunter: UWTI chart update inventories this week are out on Thursday, I believe, since monday was a holiday
03:30:37 pm offshorehunter: LABU 15 min chart$1.48 off the r/g move
03:34:53 pm Counterpunch: enjoy the rest of your day folks
03:35:05 pm offshorehunter: you too
03:40:23 pm Ant: If only I was covering a short….almost nailed bottom in SPY selling my long position….somedays…
03:50:25 pm FishOn: Great Job in the Room Today guys . Im still just cheering you all on. learning so much today I have to go over chat logs tonight , amazing stuff
03:50:58 pm offshorehunter: :up
03:51:26 pm offshorehunter: hope you all have a good afternoon, I will have scans out later
03:53:34 pm Ant: the market beat me today….played right into the bottom
03:55:31 pm Ant: pretty crazy daily SPX though
03:57:34 pm brad: SPX 60min. still a series of lower highs
04:03:47 pm mhigg30247: Good nite all
04:04:27 pm offshorehunter: scans will be out shortly
04:13:03 pm Psycho: Have a great afternoon everyone

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