StockTwits Transcripts

StockTwits Brunch Saturday March 7th, 2009 Part I

ppearlman Mar. 07 at 10:52 AM #
@Psando in this enviroment i tend to wait for the spiral to get long for a trade and wait for the squezze to get short for trade. $$

Psando Mar. 07 at 10:52 AM #
@tickerville what are your thoughts on $RIG. Would you rather play the DXO or something like USO over a driller like RIG.

snoopyjc Mar. 07 at 10:52 AM #
@tickerville I’m with you on $DXO - another of my “alternative” investments. (I’m not fully awake yet!!)

tickerville Mar. 07 at 10:51 AM #
@jsfalvo Oh yes…. bingo sir. Let’s talk about this a bit more in a minute. $$

MacroMeister Mar. 07 at 10:51 AM #
$$ stop trying to use your s.t. stuff to justify joy of pulling trigger; it’s a transitional mkt now that requires patience during setups…

jsfalvo Mar. 07 at 10:50 AM #
@tickerville Q man gm to further your profound point we forget we are not trading against the market but trading against ourselves $$

avcacio Mar. 07 at 10:50 AM #
@snoopyjc your comment is more so with the triples, it’s not so bad with the doubles $$

tickerville Mar. 07 at 10:50 AM #
http://twitpic.com/1wl21 - Oil is something that has become technically attractive. I started $DXO this week.

MacroMeister Mar. 07 at 10:50 AM #
$$ I hope folks trying to trade very actively are paying attention to @tickerville’s message: per-spec-tive 1st!! Weeklies into 15 min view

avcacio Mar. 07 at 10:49 AM #
@snoopyjc argreed! but the downside has been accelerating of late, so I have to think if this will continue (as I believe) $$

tickerville Mar. 07 at 10:49 AM #
I too have struggled with this, covering shorts far too early I need to re-read JL when he said “the most money he ever made was waiting” $$

snoopyjc Mar. 07 at 10:49 AM #
@avcacio Short and hold is OK in bear - the Inverse ETFs don’t work that way, though - they track the Daily movement of the underlying. $$

tickerville Mar. 07 at 10:48 AM #
…and, I am proud to say that our brunch has nailed most of them, this whole year. $$

avcacio Mar. 07 at 10:48 AM #
$$ In a bull mrkt, buy & hold is OK. Why not in a bear mrkt via inverse?

raddadd Mar. 07 at 10:47 AM #
It’s hard for me to believe anyone would want to buy in this market. $$

carzz Mar. 07 at 10:47 AM #
@tickerville Good point..slowing down trades has increased p&l.. fewer dime trades more dollar trades $$

snoopyjc Mar. 07 at 10:47 AM #
@avcacio Holding Ultra inverse ETFs for longer periods is hazardous to your portfolio! Look at any monthly charts of them to see why! $$

tickerville Mar. 07 at 10:47 AM #
@avcacio I won’t argue with that. While I closed out my shorts 2 Friday’s ago, the longer term charts have pointed south for some time. $$

tickerville Mar. 07 at 10:46 AM #
@JST4FSH fwiw I saw you anticipating quite a bit. Why were you so convicted a turn was upon us? $$

avcacio Mar. 07 at 10:45 AM #
@Psando @tickerville - but the trend is clear (down) and IMV it have been beneficial to “hold” inverse ETF $TZA to ride that trend

bluewaterpro Mar. 07 at 10:44 AM #
@tickerville agree on waitin for right entry on breakouts, I scalp lots of little dimes need lots of trades to make $$

Smooth0perator Mar. 07 at 10:43 AM #
This week was full of hesitation. No buyers or shorts stepping in just controlled selling. Tough spot to trade. $$

snoopyjc Mar. 07 at 10:43 AM #
I’m only investing in mostly “alternatives”, not “stocks” $SLV $GLD $CEF $UUP $DRR

raddadd Mar. 07 at 10:43 AM #
@Psando Be real careful here. $$

tickerville Mar. 07 at 10:42 AM #
@Psando This is my point exactly. Why do anything, until the trend is clear? $$

IntuitiveTrade Mar. 07 at 10:42 AM #
BREAKDOWN! $SPX http://tinyurl.com/acsq2k

tickerville Mar. 07 at 10:42 AM #
@traderjon I review weeklies down to 10 minutes. Weekly charts give me the big river picture, the rest is noise but still actionable. $$

Psando Mar. 07 at 10:41 AM #
$$ go long thinking its the bottom you get blown out as stocks death spiral,you go short thinking we havee another 2000down & u get squeezed

traderjon Mar. 07 at 10:40 AM #
@tickerville T, good point on watching ticks, I’m looking at daily chart b4 acting ‘with conviction’, otherwise trendy gets chopped up $$

tickerville Mar. 07 at 10:40 AM #
So while I always enjoy watching the rapid fire action in here. If you are struggling to keep up, take a step back and let’s work on this $$

BHBGroupTrader Mar. 07 at 10:40 AM #
@tickerville well it helped me stay short the $qqqq and I made out like a bandit thanks to the leading techs rolling like $goog did

tickerville Mar. 07 at 10:38 AM #
Here is last week’s $GOOG chart http://twitpic.com/1r2wp How many could have made your week on this one trade? $$

tickerville Mar. 07 at 10:36 AM #
Here is the question I have for most that I observe in here. Why be so anxious about catching every tick? $$

tickerville Mar. 07 at 10:35 AM #
@raddadd Ah bingo. That is the key to trading my friend. Accepting the real risk with each trade. $$

avcacio Mar. 07 at 10:34 AM #
@tickerville rehash - I was able to pick up $BP @ 34.08, and Oil started an up move…

tickerville Mar. 07 at 10:34 AM #
One of my best trades was a $GOOG short, which I posted on Twitter, and was our mystery chart from last week. $$

raddadd Mar. 07 at 10:34 AM #
@tickerville In my opinion there is no such thing as 100%. You always can be wrong. $$

tickerville Mar. 07 at 10:32 AM #
Let’s rehash a bit from last week. As I said earlier, I was a spectator for most of the week. $$

avcacio Mar. 07 at 10:32 AM #
$$ StockTwits is moving this AM. I remember when weekends were too quiet.

snoopyjc Mar. 07 at 10:30 AM #
@tickerville 9% is because I was stopped out once before at 8% :-/ $$

tickerville Mar. 07 at 10:30 AM #
So in summary, if you are asking yourself if this is the bottom. You are asking the wrong question. The question is, how do we make money $$

bluewaterpro Mar. 07 at 10:30 AM #
my biggest problem last week was hand/eye coordination launched a 5000 share sell order instead of 500, didnt realize rigth away ouch $$

raddadd Mar. 07 at 10:29 AM #
I would go for homebuilders as a short possibly. They need to show some strength before I would buy them. $$

thurgy Mar. 07 at 10:29 AM #
@hugo48 bingo! let some others test the waters, see if they are eaten by sharks. $$

tickerville Mar. 07 at 10:29 AM #
@snoopyjc I’ll hit this more in a bit, but question is. Was 9% based on a technical read, or a fixed %? $$

tickerville Mar. 07 at 10:28 AM #
@bluewaterpro We’ll hit some charts in a bit. $$

tickerville Mar. 07 at 10:28 AM #
@raddadd Guess? I haven’t met many successful traders who guess. I wouldn’t have made it through 10 years managing money by guessing. $$

hugo48 Mar. 07 at 10:28 AM #
$XHB Even if it is miraculously the bottom is there really any reason to be 1st man in the pool$$

tickerville Mar. 07 at 10:27 AM #
Because by the time the real trades come, you will have spent so much time trying to catch it, you emotionally won’t be able to play it. $$

snoopyjc Mar. 07 at 10:26 AM #
@tickerville My problem is $TBT - mine was stopped out on a 9% trailing stop just as others were buying it! Now what?

bluewaterpro Mar. 07 at 10:26 AM #
Swiss gov doesnt have juice to backstop $UBS

thurgy Mar. 07 at 10:26 AM #
@bluewaterpro $XHB as a trade or what? its sitting right on the nov lows, actually breached it for a second friday

raddadd Mar. 07 at 10:26 AM #
@tickerville You have to go with the flow. It helps if you guess the right direction. $$

tickerville Mar. 07 at 10:25 AM #
So while some will try for a hero trade, which can easily spark nice media attention. If you want to be a successful trader, just stop. $$

bluewaterpro Mar. 07 at 10:25 AM #
reply
how about homebuilders $XHB

tickerville Mar. 07 at 10:24 AM #
When traders spend time attempting to pick or call a bottom, they deplete emotional capital at a very rapid pace. $$

tickerville Mar. 07 at 10:22 AM #
Most traders believe that they have 1 capital bank ala financial but what they dont realize is that they have 2 The first being emotional $$

hugo48 Mar. 07 at 10:19 AM #
@ppearlman I have followed your trades recently. Pretty darn good I must say. Not my style but you’ve traded well $SPX and $GLD$$

bluewaterpro Mar. 07 at 10:19 AM #
all this bottom talk is nuts, i earnings fall and ratios fall, 4000 is not that far $$

raddadd Mar. 07 at 10:18 AM #
Late friday’s trading was about the only positive thing the bulls had last week,but an intermediate bottom is near,I think. $$

snoopyjc Mar. 07 at 10:18 AM #
@tickerville My other problem trade was a Put on $TOL - earnings worse than expected and the stock went UP!! :-o

tickerville Mar. 07 at 10:18 AM #
Sorry all for that delay. I am now at an office. Let’s get down to business. $$

thurgy Mar. 07 at 10:16 AM #
$UNH has an interesting chart setup for a counter-trend trade from the recent massacre.

snoopyjc Mar. 07 at 10:16 AM #
@tickerville My problem is $TBT - mine was stopped out on a 9% trailing stop just as others were buying it! Now what?

ppearlman Mar. 07 at 10:16 AM #
@hugo48 im personally agnostic here h48 and as usual taking trades when they come… $$

tickerville Mar. 07 at 10:10 AM #
I want to touch on some real problems i saw in traders this week. $$

hugo48 Mar. 07 at 10:09 AM #
@ppearlman Let’s get some strong groups we can rally around on the long side 1st. So far we have $FCX. We need leadership. Patience$$

tickerville Mar. 07 at 10:08 AM #
@ppearlman normally late fri covering no big deal but this had Rocky like force behind it. $SRS reversal spoke volumes.

tickerville Mar. 07 at 10:05 AM #
I did very little this week. One of my only meaningful trades was a $goog short which was last weeks mystery chart.

ppearlman Mar. 07 at 10:04 AM #
tville.. even my aunt ookie was chatting the long term 61% fib retarcement friday late as we lifted from the abyss. thoughts on this? $$

tickerville Mar. 07 at 10:02 AM #
Good morning stock fans! We ready to rock? Running to office right now in AZ a touch behind $$

StockTwits Mar. 07 at 9:59 AM #
Welcome our boy @Tickerville to StocklTwits Brunch… Drown out da noise and bring on da charts Q-Man!