[16:01] <bluemonkey_66> OK, this chat will be an open forum...

[16:01] <bluemonkey_66> That means you guys need to ask questions...

[16:02] <sunset> What is the focus or topic please

[16:02] <bluemonkey_66> I will try to remember them all but if I am missing yours please take note

[16:02] <daveo> BM: what do you do on your desktop once you've read the newsletters?

[16:02] <bluemonkey_66> It is rather open sunset..moreso for newer members

[16:02] <bluemonkey_66> Here is the way I'd start my day if I were you guys...

[16:02] <sunset> OK thanks.

[16:02] <bluemonkey_66> first you need to be awake and alert at 1 hour before the open

[16:04] <market> how to you decide which one is strong or weak ?

[16:04] <bluemonkey_66> hold that question please market

[16:04] <speedy> exc if you're me, then youre asleep

[16:04] <bluemonkey_66> ok...

[16:04] <bluemonkey_66> turn on cnbc

[16:04] <bluemonkey_66> and log in the chat room

[16:05] <bluemonkey_66> the chat room is often slow that early

[16:05] <bluemonkey_66> but if there are any important things going on we're sure to hear them in chat early

[16:05] <bluemonkey_66> then read the morning report

[16:05] <bluemonkey_66> and get prepared for the day...

[16:05] <bluemonkey_66> have your system up and ready to go

[16:05] <_scuba> BM, r we ready for questions?

[16:06] <bluemonkey_66> I was answering one scuba

[16:06] <bluemonkey_66> next re weak vs strong...

[16:06] <bluemonkey_66> When I see a stock with buying interest it signals that the stock may be strong

[16:07] <bluemonkey_66> also we can identify a stock that is strong relative to the mkt

[16:07] <bluemonkey_66> in other words a stock that is holding firm in a declining mkt would be considered strong

[16:07] <bluemonkey_66> The volume of buyers on futures up-ticks is also an indicator

[16:08] <bluemonkey_66> The opposite holds true for weak stocks

[16:08] <bluemonkey_66> Did that answer you market?

[16:08] <market> yes, but it seems 50/50 most time

[16:09] <newguy> How do you watch volume of buyers on futures upticks?

[16:09] <daveo> BM: do you use software on your website during the day or just the chat?

[16:09] <bluemonkey_66> Well stocks move back and forth

[16:09] <bluemonkey_66> and the idea is to buy those stocks that are moving back and forth in an upward pattern

[16:10] <bluemonkey_66> at the same time we could be shorting a strong stock and making money but we are trying to identify overall bias by placing them in baskets like we do

[16:10] <bluemonkey_66> Futures vs buyers....I watch the price change moreso

[16:10] <bluemonkey_66> not the volume of buyers

[16:10] <bluemonkey_66> just how fast the price moves on futures upticks

[16:11] <market> Do we need to buy or sell at the recommending point ?

[16:11] <bluemonkey_66> if the price changes immediately it tells me there are anxious buyers..

[16:11] <bluemonkey_66> Yes I use the software of the site to track the mkt

[16:11] <daveo> which link?

[16:11] <bluemonkey_66> The software that I give for free on the website

[16:12] <bluemonkey_66> look on the homepage

[16:12] <bluemonkey_66> there is a picture there, click on it

[16:12] <bluemonkey_66> download it

[16:12] <vb> you ever have a problem getting your live stock feed?

[16:12] <vb> i've had to reboot a couple of time to get it to go on.

[16:12] <bluemonkey_66> market, the sup/res calls are given so you have a guide in making trading decisions

[16:13] <bluemonkey_66> My performance will be based on those calls...

[16:13] <market> How to calculate the data ? use last day data or the first 15 min data ?

[16:13] <bluemonkey_66> Always use today's data

[16:13] <bluemonkey_66> I never use yesterdays

[16:13] <bluemonkey_66> in the trading calls

[16:14] <bluemonkey_66> Make sure you are clicking start vb

[16:14] <akadollar> you never use pryor to today data bm

[16:14] <vb> I do, and get a contact support notice, then have to reboot.

[16:14] <bluemonkey_66> not when I calculate fib no

[16:14] <akadollar> oh ok..ic

[16:14] <daveo> BM: I could be wrong but your software is way out of date with current day. THat's why I haven't been using it.

[16:15] <vb> why say that daveo

[16:15] <daveo> In fact, at the top of my screen it says that it was last updated 11/05/01

[16:15] <bluemonkey_66> I think the software is useful..but it surely isn't the state of the art...

[16:15] <vb> what is state of theart

[16:15] <bluemonkey_66> The software definately allows you to stay in tune though

[16:16] <daveo> We are talking about StockRoom

[16:16] <_scuba> BM, downloaded it but prices not updating, everything is 0.00

[16:16] <bluemonkey_66> and it is rather efficient...

[16:16] <bluemonkey_66> you need to make your own choice though

[16:16] <bluemonkey_66> More questions please...

[16:17] <daveo> BM: re: software...mine doesn't receive updated info. please advise?

[16:17] <bluemonkey_66> What don't you guys understand???

[16:17] <Trialmember> BM: Is it possible to see your daily trades in realtime?

[16:17] <vb> yes, I was asking "What then, is a state of the art software for tracking the market?"

[16:17] <_scuba> hit start, and green dot going

[16:17] <twosox> Can you explain in more detail how you establish sup/res numbers?

[16:17] <Trialmember4> how will be tomorrow's market

[16:17] <bluemonkey_66> trialmember...please change your name and do not use bold...

[16:18] <trads> BM....i think you need to make your trades more clearly to the chat

[16:18] <trads> there are alot of complaints about that

[16:18] <bluemonkey_66> Yes twosox...I will take your question fist...

[16:18] <trads> just my opinion

[16:18] <bluemonkey_66> and then we will go to trads comment

[16:18] <bluemonkey_66> The software logins will be addressed at the very end unless everyone is having problems

[16:19] <bluemonkey_66> Twosox..sup/res come from 2 sources

[16:19] <bluemonkey_66> the first is the chart pattern of the stocks

[16:19] <bluemonkey_66> the second is the fibonacci calculations that correspond to that stock

[16:20] <bluemonkey_66> I put the numbers together as appropriate and issue the calls

[16:20] <twosox> Can you do an example..in detail?

[16:20] <bluemonkey_66> Sometimes, if a stock is facing an important number, say 50 I also, include that round number out of experience

[16:21] <twosox> The sup/res numbers are the heart of the matter.

[16:21] <bluemonkey_66> open the NVDA chart

[16:22] <newguy> Can't open the NVDA chart, it will break my heart <g>

[16:22] <bluemonkey_66> then open fib and place the hod and lod in the calc

[16:22] <vb> nvda chart for what period of time?

[16:22] <bluemonkey_66> almost always daily

[16:23] <bluemonkey_66> 1st fib sup should be 50.5 first res 51.2

[16:23] <bluemonkey_66> everyone have that?

[16:23] <daveo> y

[16:24] <twosox> yes

[16:24] <newguy> bm - If I may make a suggestion... Rather than everyone typing their questions, they should type a question mark (?) to indicate they have a question, and then you can acknowledge them in order

[16:24] <bluemonkey_66> note that NVDA turned higher at 49.4

[16:24] <min> What would predict tomorrow's market

[16:24] <twosox> But at the start of the day you don"t have the full days data.

[16:24] <market> Which period of data ?

[16:24] <bluemonkey_66> min we are in an educational chat please hold that question

[16:24] <bluemonkey_66> still the same twosox

[16:25] <bluemonkey_66> that's why it is good to let the mkt trade a little while before you start

[16:25] <bobe> BM: Is it possible to see your daily trades in realtime?

[16:25] <bluemonkey_66> no bobe, but the calls allow you to know what they are

[16:25] <bluemonkey_66> note 49.4 is where NVDA turned up

[16:25] <twosox> So 15 minutes into the day , you use just the hi/lo for 15 minutes??

[16:26] <bluemonkey_66> 49.4 would be our first sup level

[16:26] <bluemonkey_66> yes twosox

[16:26] <bluemonkey_66> 49.24 would be sup2

[16:26] <bluemonkey_66> and 44 would be sup3

[16:26] <bluemonkey_66> you guys see that?

[16:26] <daveo> yes on fib...no on chart

[16:27] <bluemonkey_66> the 1st sup comes from the chart and the second and third comes from fib

[16:27] <akadollar> ???blue how can u find sup/res number for stocks but u have admitted trouble finding sup/res for futures charts..am i missing something

[16:27] <biker> 9 round trip trades at an average cosy of $20 per round trip is $180 plus a $240 loss in trading = a $420 loss for the day, trading costs seem to be dismissed here unless I am the only small 1-2 hundred lot trader in the room

[16:28] <speedy> try IB Biker, $1 per 100 shares

[16:28] <bluemonkey_66> Note I will adress 1 question at a time

[16:28] <bluemonkey_66> please hold all other questions

[16:28] <akadollar> lol ok im holdin

[16:28] <bluemonkey_66> are you guys up to speed with the sup on nvda ???

[16:28] <twosox> NO

[16:29] <market> no

[16:29] <bluemonkey_66> ok...do you have a daily chart open?

[16:29] <daveo> yes

[16:29] <market> yes. What data you use ? HOD= ? HOL=?

[16:29] <twosox> You palced the NVDA S/R at 9:34 this am. What numnbers did you use for Fib?

[16:30] <bluemonkey_66> I used the high and low at that time twosox...you are asking 2 different questions here

[16:30] <bluemonkey_66> and I am trying to answer the first

[16:30] <bluemonkey_66> is your question how to find sup/res or is it how can I possibly find it with 15 minutes worth of data?

[16:31] <market> last one

[16:31] <vb> I would ask the latter, how in 15 minutes

[16:31] <twosox> Both actually.

[16:31] <bluemonkey_66> let me keep on with the way to do it and answer the second afterwards

[16:31] <bluemonkey_66> does everyone have a daily nvda chart open?

[16:31] <daveo> y

[16:31] <twosox> yes

[16:31] <vb> y

[16:31] <sky> tes

[16:31] <bluemonkey_66> does everyone have the fib numbers in place?

[16:32] <daveo> y

[16:32] <twosox> yes and yes

[16:32] <sky> what number

[16:32] <bluemonkey_66> sky place the low of the day and the high of the day in nvda into the fib calc

[16:32] <sky> ok

[16:32] <trads> this is a question nightmare

[16:32] <bluemonkey_66> http://www.stocktradersdaily.com/clubsite/cgi-bin/fib2.cgi

[16:32] <bluemonkey_66> this is the calculator

[16:32] <sky> got it

[16:33] <bluemonkey_66> see the sup in nvda at 49.4?

[16:33] <bluemonkey_66> that is where it turned higher in the chart

[16:33] <daveo> yes @ 11:30 ish

[16:33] <bluemonkey_66> right

[16:33] <bluemonkey_66> does everyone else see that?

[16:34] <sky> nvda was above 50 all the moring

[16:34] <bluemonkey_66> You guys seem to be thinking

[16:34] <bluemonkey_66> it is not a business of thinking

[16:34] <bluemonkey_66> as you can tell by today's performance

[16:34] <sky> where is this 44.94 from

[16:34] <bluemonkey_66> it is a business of reacting to the numbers

[16:35] <daveo> hey...some of us did OK today.

[16:35] <bluemonkey_66> :-)

[16:35] <biker> Thx Speedy

[16:35] <sky> 44.94=49.4

[16:35] <bluemonkey_66> 49.4 sorry

[16:35] <daveo> look on your daily chart around 11:30.

[16:35] <bluemonkey_66> Does everyone see 49.4???

[16:36] <vb> on todays nvda, i don't see it hitting 49.4 til around 2:30

[16:36] <twosox> I agree VB. not 11:30.

[16:36] <bluemonkey_66> you are in a different time zone

[16:36] <bluemonkey_66> come on guys

[16:36] <twosox> EST

[16:36] <daveo> sorry

[16:36] <bluemonkey_66> think

[16:36] <bluemonkey_66> this is dragging on

[16:36] <bluemonkey_66> let's get going

[16:36] <sunset> Quick question. Will this session be recorded and post on the STD website?

[16:36] <bluemonkey_66> the next two sup levels come from fib

[16:36] <bluemonkey_66> yes sunset

[16:37] <sunset> Thanks.

[16:37] <bluemonkey_66> T2 and T3

[16:37] <bluemonkey_66> do you guys see that?

[16:37] <daveo> y

[16:37] <bluemonkey_66> basically there are no sup levels under 49.4 from the chart

[16:37] <bluemonkey_66> so we turn to fib

[16:37] <bluemonkey_66> next...

[16:37] <bluemonkey_66> res levels

[16:37] <bluemonkey_66> where is the first res level?

[16:37] <market> The first alway from the chart ?

[16:37] <sky> 51.2

[16:37] <daveo> 51.2

[16:38] <bluemonkey_66> I say 50.3

[16:38] <bluemonkey_66> that would be res1

[16:38] <daveo> you're right

[16:38] <bluemonkey_66> in my book

[16:38] <sky> why

[16:38] <bluemonkey_66> then I'd say 51-51.2 but I'd choose 51.2 because of fib

[16:39] <bluemonkey_66> and then I'd choose 52.39 because of fib

[16:39] <bluemonkey_66> on the daily chat of nvda place your cursor at the top of the chart early in the morning

[16:39] <bluemonkey_66> draw a line touching the other lower highs

[16:39] <bluemonkey_66> and extend it

[16:39] <bluemonkey_66> it crosses at about 51, a little higher

[16:40] <bluemonkey_66> t1 res and that level are close

[16:40] <bluemonkey_66> I chose fib usually when they are this close

[16:40] <bluemonkey_66> the next res level at T2 and at the hod are close too

[16:40] <bluemonkey_66> again I chose fib because they are close enough

[16:41] <bluemonkey_66> If the fib was way away from the chart number I'd chose the chart number..meaning if the fib number was above the hod

[16:41] <bluemonkey_66> did you all follow that?

[16:41] <daveo> y

[16:42] <bluemonkey_66> NVDA

[16:42] <bluemonkey_66> Basket: WEAK

[16:42] <bluemonkey_66> sup1 49.4

[16:42] <bluemonkey_66> sup2 49.24

[16:42] <bluemonkey_66> sup4 44

[16:42] <bluemonkey_66> res1 50.25

[16:42] <bluemonkey_66> res2 51.2

[16:42] <bluemonkey_66> res3 52.39

[16:42] <bluemonkey_66> that would be the formal call

[16:42] <daveo> got it thx

[16:43] <bluemonkey_66> Next question, unless there are more on this???

[16:43] <akadollar> ???blue how can u find sup/res number for stocks but u have admitted trouble finding sup/res for futures charts..am i missing something

[16:43] <bluemonkey_66> I need to use the charts only for sup/res in futures

[16:43] <bluemonkey_66> The fib calculator doesn't work for futures

[16:44] <bluemonkey_66> I want to create one soon that does though

[16:44] <sky> keep going

[16:44] <bluemonkey_66> Thus I can find sup/res on futures when trend lines develop but when it comes to breakdowns and breaks higher above the last sup or res levels I get blurred

[16:45] <bluemonkey_66> next question...

[16:45] <bluemonkey_66> sorry, did that answer aka???

[16:45] <akadollar> so you saying what..i saw sup on nvda at 49.29 from charts same way i id fut sup/res

[16:46] <bluemonkey_66> I can't answer that because I do not know what you did

[16:46] <akadollar> arnt charts more reliable with the fib as a aditional tool rather than the other way around

[16:47] <sky> bm-how to get future chart anyway

[16:47] <bluemonkey_66> aka, charts are usually more obvious and they tend to give traders more confidence in their trades, but I think each tools is equally valuable

[16:47] <daveo> do you ever press your winnings BM? I haven't been with the program long enough to see.

[16:47] <bluemonkey_66> sky, open stockroom software and then open the future chart

[16:48] <bluemonkey_66> daveo, please review the performance link

[16:48] <bluemonkey_66> I send it out every night and it is also on the homepage: http://www.stocktradersdaily.com

[16:48] <market> sorry, where can I see the future ?

[16:49] <trads> if anyone in here uses MIRC.....can you please IM me....i have a question

[16:49] <sky> stockroom is opened, where to open the future chart

[16:49] <bluemonkey_66> futures quotes are offered in the stockroom software provided in the site

[16:49] <akadollar> ok i understand bm they are more ovious..charts..but u perfer the fib

[16:49] <daveo> BM: press meaning add to an existing position not press meaning publish

[16:49] <bluemonkey_66> on the right side at the top, the ftures symbol is nq01z..cick on it

[16:49] <twosox> I would like to see the future too.

[16:49] <bluemonkey_66> No aka, I think they are equal

[16:50] <bluemonkey_66> no preferences

[16:50] <sky> got it

[16:50] <bluemonkey_66> Not normall daveo..once in a blue moon maybe

[16:50] <akadollar> well then why again do u have trouble with the fut

[16:51] <bluemonkey_66> Because the fut charts do not necessarily give you support levels when they are breaking down

[16:51] <bluemonkey_66> or breaking up

[16:51] <bluemonkey_66> res re up

[16:51] <bluemonkey_66> You can always use bollingers but those are most often flat at those times too

[16:51] <akadollar> oh they dont

[16:52] <daveo> BM: finally got the software loaded correctly...I HAVE EYES!

[16:52] <bluemonkey_66> awesome

[16:52] <akadollar> damd i better starte using the fid then.

[16:52] <bluemonkey_66> Aka, also note, one of the reasons I want a techie is because I am not one...

[16:53] <bluemonkey_66> I can read them...but I do not identify the special patterns some of them do

[16:53] <akadollar> ok just wondering ..we are tieing up money now your knolage here

[16:53] <bluemonkey_66> you are the only question on the table...are there others???

[16:54] <daveo> not yet...my problem was not having the software...sup/res stuff is understandable.

[16:54] <bluemonkey_66> Some of you seemed like you were in left field yesterday

[16:54] <bluemonkey_66> Should I assume there have been revelations???

[16:55] <akadollar> sorry i did not mean to confuse anyone...i have mt questions answered

[16:55] <daveo> one more maybe...how many stocks are you watching in a day? I know you only recommend a few.

[16:55] <bluemonkey_66> Do you all know how a buy is triggered with the trading calls?

[16:55] <daveo> recommend meaning add to a basket.

[16:55] <bluemonkey_66> daveo, I think there are near 60

[16:55] <bluemonkey_66> if you know how a buy is triggered please tell me

[16:55] <daveo> yes to trigger...near is the only variable.

[16:56] <gabriel> Just looking now...is BRCM bluemonkey ? if so, why the change in nick ?

[16:56] <market> If you miss the entry point, you still chase the stock ?

[16:57] <daveo> per your NVDA call...short near 51.2

[16:57] <bluemonkey_67> sorry

[16:57] <bluemonkey_67> market, no

[16:57] <gabriel> Just joininig. Does bluemonkey have a differnt nick ?

[16:57] <bluemonkey_67> Near is near...but almost always the trades are triggered

[16:57] <bluemonkey_67> and triggered means the prices are hit at least once

[16:57] <daveo> if it were in the strong basket buy at 49.4

[16:58] <daveo> correct?

[16:58] <newguy> ?

[16:58] <bluemonkey_67> gabriel my nicks are bluemonkey_66 and bluemonkey_67 I don't know what happens to cause the brcm to appear

[16:58] <bluemonkey_67> right daveo, or you buy as res1 is broken

[16:59] <market> You use stop limit or limit order to buy it ?

[16:59] <newguy> Yeah, wish I could have figured out how to make BRCM go away too <g>

[16:59] <bluemonkey_67> you buy a stock when support is test or when resistance is broken

[16:59] <bluemonkey_67> do you all understand this???

[16:59] <newguy> yes

[16:59] <sky> yes

[16:59] <daveo> yes...you print that in all emails.

[16:59] <bluemonkey_67> buy made with limit orders are more reliable

[17:00] <bluemonkey_67> do you all know that stop losses are to be placed as close to .2 as possible?

[17:00] <daveo> y

[17:00] <newguy> y

[17:00] <sky> .2 of the sup?

[17:01] <bluemonkey_67> Do you all realize that I may call a stock as triggered and it may not be able to be traded at my levels by you at that time?

[17:01] <sky> or .2 of the price I brought?

[17:01] <market> You use the best market or idividual ?

[17:01] <bluemonkey_67> sky, stop loss is 0.20

[17:01] <daveo> yes...market moves quickly

[17:01] <bluemonkey_67> Because you are unlikely to get the prices I do after I call a trigger you must anticipate the call

[17:01] <newguy> Sky is asking .20 under support or .20 under buy price

[17:02] <bluemonkey_67> that is why I give you a list of sup/res levels

[17:02] <bluemonkey_67> .20 under the entry level

[17:02] <bluemonkey_67> which is darn close to .20 under the support level if you are buying

[17:02] <newguy> Which is why entry should be as close to support as possible

[17:02] <daveo> speak about your profit stop philosophy...when to enter one, etc.

[17:03] <bluemonkey_67> Enter a profit stop when a round number is crossed by .25

[17:03] <bluemonkey_67> then enter your profit stop immediately under that round number

[17:03] <daveo> thanks.

[17:03] <bluemonkey_67> I like to issue a profit stop if I will gain at least .5 from it

[17:04] <daveo> me 2

[17:04] <daveo> especially in a choppy market!

[17:04] <bluemonkey_67> therefore: we trade xyz at 49.5 and it increases to 50..

[17:04] <bluemonkey_67> the target let's say is 50.35

[17:04] <bluemonkey_67> the stock passes 50 and increases to 50.25

[17:05] <bluemonkey_67> stop is set under 50..

[17:05] <newguy> Do you ever determine a market is too choppy to trade from one sup/res to the next, and try to scalp smaller gains?

[17:05] <bluemonkey_67> the stock may trade to target, it may trade higher, but no matter I lock in .50

[17:05] <bluemonkey_67> also if it continues up I increase the stop when it crosses the next round nnumber

[17:06] <bluemonkey_67> I do this until I feel compelled to lock in gains or until I am stopped

[17:06] <bluemonkey_67> usually the latter

[17:06] <daveo> although...I've noticed that when you hit targets, you USUALLY take profits?

[17:06] <bluemonkey_67> yes newguy

[17:06] <newguy> How do you determine a choppy market... what do you look for?

[17:06] <market> You alway wait for the stop loss trigger when you know you may be wrong after entr the trade ?

[17:06] <bluemonkey_67> Taking profits is the name of the game daveo..but watch a little closer, I like using profit stops a lot

[17:06] <daveo> OK

[17:07] <bluemonkey_67> choppy mkt is back and forth in a tight range but consistant volatility on both sides

[17:07] <bluemonkey_67> market I only know I was wrong when the stop loss triggers

[17:07] <market> O.K

[17:07] <newguy> Any definable parameters, or just feel?

[17:08] <bluemonkey_67> re choppy?

[17:08] <daveo> How often do you update the website...bargains, etc.?

[17:08] <bluemonkey_67> bargains were a list of recommendations on the mkt dip

[17:09] <bluemonkey_67> I put them out there then...for the reason of buying them...I have not updated them since..that was a list made solely to take advantage of the crash

[17:09] <daveo> Do you make all of your own calls or use other info. sources?

[17:09] <daveo> thx

[17:10] <bluemonkey_67> the rest of the site I try to update regularly

[17:10] <bluemonkey_67> I make all of them

[17:10] <twosox> How often do you miss a stop by more than .20?

[17:10] <bluemonkey_67> 11 stops today, 6 more than .2

[17:11] <bluemonkey_67> 2 less than .2

[17:11] <twosox> How much more?

[17:11] <bluemonkey_67> .31 was the worst

[17:11] <bluemonkey_67> .25 next

[17:11] <bluemonkey_67> .23 next

[17:11] <akadollar> ??when are we geting thosee other things mentioned to justafy the rate increase bm..before the increase?

[17:11] <twosox> In the last 2 days, i hit above .30 three times and 1 above .40. Add up fast.

[17:12] <bluemonkey_67> yes try to keep those lower twosox

[17:12] <bluemonkey_67> 11 trades/-2.4...pr trade stop is less than .21

[17:13] <bluemonkey_67> Aka, I hope to be able to add additional services too

[17:13] <market> How many share did you trade per trade ?

[17:13] <bluemonkey_67> But this increase also goes to me...

[17:13] <sky> bm- .20 is not too tight specially in choppy market?

[17:13] <akadollar> u hope ...when

[17:13] <bluemonkey_67> Market, usually 400-500

[17:14] <bluemonkey_67> .20 is not too tight no

[17:14] <twosox> Why 400 or 500?

[17:14] <bluemonkey_67> I am currently in search of a technical anlyst aka...I do not know when I'll find one that will fit in though

[17:14] <daveo> Do you recommend trading in a floor environment or remotely?

[17:14] <twosox> IN other words whay not 200 or 1000.

[17:15] <bluemonkey_67> The way you determine how much to trade is listed on our strategy page

[17:15] <akadollar> and what ever happen to that promised option guy from weeks ago bm

[17:16] <bluemonkey_67> aka, he was a friend of mine, and is, who wants to join us to get ideas, he said he'd tell us what he sees on the floor too, this was not another resource provided by std, this was just an interesting member, I am sorry if you were confused about that

[17:16] <bluemonkey_67> floor enviornment or remote??? I don't understand???

[17:16] <akadollar> ok i see blue..we are kinda prepaying becouse we are nice like that

[17:17] <bluemonkey_67> aka, you are paying only because you think it is worth it

[17:17] <daveo> There are daytrading firms in my area that have floor environments vs. trading in your office or at home.

[17:17] <bluemonkey_67> I like home, but that is me

[17:17] <bluemonkey_67> here is the link to define your trading size: http://www.stocktradersdaily.com/clubsite/definingassets.htm

[17:18] <bluemonkey_67> it tells you how many shares to buy

[17:18] <market> How many pay member, can I ask ?

[17:18] <akadollar> NO..just asking when you would supply what u said the increase was for

[17:18] <daveo> do you enter all your orders in the morning when you review the baskets or wait until you get close?

[17:19] <bluemonkey_67> Let me be clear aka, the increase is also for me...I do not make $1000 from this yet...fyi..but I am not going to dicuss the details behind the scenes here...I'll just tell you that membership has increased considerably in the last 3-4 months and I am pleased to not have it be a draw from my pocket anymore...now it is time I make money too...this is imperative aka..

[17:20] <bluemonkey_67> I don't quite get that daveo

[17:20] <bluemonkey_67> enter all in the morning?

[17:20] <bluemonkey_67> no I enter them as they are triggered

[17:20] <akadollar> yep we all have to do waht we have to dont we blue

[17:20] <daveo> once I review the baskets should I place limit orders on all the trades expecting a trigger?

[17:20] <bluemonkey_67> no daveo

[17:21] <bluemonkey_67> wait until the trades are close to triggering

[17:21] <daveo> OK...I just wondered if you wanted us to REALLY anticipate.

[17:21] <bluemonkey_67> you need to pay close attention

[17:21] <bluemonkey_67> yes anticipate but no re orders placed well in advance

[17:22] <Maven1> Blue, I had to step out for some minutes. Did you cover what graphs you leave open during the day. The most I seem to be able to show and see detail is about 6.

[17:24] <bluemonkey_67> graphs

[17:24] <bluemonkey_67> I have the chart of the futures open and visible all day

[17:24] <bluemonkey_67> as needed I open other charts

[17:24] <bluemonkey_67> depening on what I am watching

[17:26] <Maven1> Dors the backfill data feature work> I get an error when I try to use it.

[17:26] <bluemonkey_67> backfill, you need a quote.com free account..

[17:26] <bluemonkey_67> read the backfill instruction on the download page please

[17:27] <Maven1> Ok!

[17:27] <daveo> BM: should we be following topaz as well?

[17:27] <bluemonkey_67> here: http://www.stocktradersdaily.com/downloads.htm

[17:27] <market> BM, do you only trade the stocks you mentioned ?

[17:27] <bluemonkey_67> I do not recommend following anyone but yes you should use topaz as a resource

[17:27] <bluemonkey_67> yes mkt

[17:28] <daveo> OK...he tends to trade different stocks.]

[17:28] <bluemonkey_67> Yes he does...

[17:28] <bluemonkey_67> that's good for you guys

[17:28] <sky> blue, do y update the sup/res during the day when there is any change?

[17:28] <bluemonkey_67> more ideas

[17:28] <bluemonkey_67> sometimes sky, if adjustments are needed I do

[17:29] <market> Why you cannot say long/short instead trigger ?

[17:29] <sky> sometimes I see y don't, when the stock reachs new high or new low, why?

[17:29] <bluemonkey_67> market I do not want anyone to buy just cause I say buy triggered

[17:30] <bluemonkey_67> I want you to know already

[17:30] <newguy> bm - I like it when you say "looking to enter NVDA" and the like, gives us a heads up to be prepared... also as I mentioned before, when trigger points are approaching in neutral stocks, please let us know which way you see the trade

[17:30] <bluemonkey_67> and if you followed the call you would clearly know

[17:30] <market> sometime I cannot follow all the time

[17:30] <bluemonkey_67> Neutral stocks, I will always let you know

[17:30] <bluemonkey_67> there are only 4-5 calls a day market

[17:30] <market> you move stock around

[17:30] <bluemonkey_67> usually all offered in the morning

[17:31] <market> if no usually

[17:31] <twosox> Blue, can you do another example of S/R? A different stock. PSFT.

[17:31] <daveo> let's cover something else.

[17:31] <bluemonkey_67> sure twosox..quickly

[17:32] <market> good idea, try one more

[17:32] <bluemonkey_67> psft sup

[17:32] <bluemonkey_67> 1. 34.2

[17:33] <bluemonkey_67> 2. 31.17

[17:33] <bluemonkey_67> 3. 30

[17:33] <bluemonkey_67> res.

[17:33] <bluemonkey_67> 1. 35

[17:33] <bluemonkey_67> 2. 35.5

[17:33] <bluemonkey_67> 3. 36

[17:33] <bluemonkey_67> 36.32 may also be ok to use but I'd chose 36 here

[17:34] <bluemonkey_67> you guys see that?

[17:34] <daveo> y

[17:35] <sky> I have different from fib

[17:35] <newguy> Why 34.2...

[17:35] <newguy> because it hit 34.2 around 1:20?

[17:35] <market> It seems you get it from the chart

[17:35] <bluemonkey_67> look at the chart newguy

[17:35] <newguy> what time?

[17:35] <bluemonkey_67> 12:20 AND 12:50

[17:35] <taylor> a 3 point spread for support in a daytrade call?

[17:36] <newguy> Right, I see that, but why do you not go back earlier?

[17:36] <bluemonkey_67> ACTUALLY SUP1 IS AT 34.2 AND RES1 IS AT 35..THAT'S A .8 SPREAD IN THE CALL

[17:36] <newguy> low of day was 34

[17:36] <bluemonkey_67> sorry caps

[17:36] <bluemonkey_67> I see 34.2 from the charts...seems 34 was a bad quote

[17:37] <market> How from the fib >

[17:37] <newguy> I see

[17:37] <bluemonkey_67> I will not go back any earlier, why should I, I cannot define support if I do

[17:37] <bluemonkey_67> I go back earlier as I identify res though

[17:37] <taylor> the support spread is 3.03 points

[17:38] <newguy> Right, I thought there was a 34 earlier in the day, hence my question

[17:38] <bluemonkey_67> taylor, what are you talking about

[17:38] <bluemonkey_67> the daily spread of the stock from high to low?

[17:38] <taylor> [17:29] <bluemonkey_67> psft sup

[17:38] <taylor> [17:29] <bluemonkey_67> 1. 34.2

[17:38] <taylor> [17:29] <bluemonkey_67> 2. 31.17

[17:39] <bluemonkey_67> ah IC

[17:39] <newguy> This would be sup/res call made at 4pm, but we wouldn't use same numbers tomorrow...

[17:39] <bluemonkey_67> yes that is what I get taylor

[17:39] <bluemonkey_67> this tells us that the 34.2 level would be deemed important

[17:39] <newguy> How about reviewing PSFT sup/res call from this morning at the time you made it?

[17:39] <bluemonkey_67> and that stop losses and/or profit stops need to be used

[17:40] <market> Basically, if you can get from the chart, get it from the chart, otherwise from fib, right ?

[17:40] <bluemonkey_67> market, the charts are quite obvious compared to the fib...but both are useful

[17:40] <bluemonkey_67> I do not advise preferring one over the other

[17:40] <bluemonkey_67> take what the numbers give

[17:41] <bluemonkey_67> PSFT from earlier...I have no ideas what numbers I used...I am happy to walk you through a trade tomorrow though that we call

[17:41] <bluemonkey_67> it will be the same thing as we are doing hewre though

[17:41] <bluemonkey_67> remind me and i will do that

[17:42] <newguy> Hard to do in the morning

[17:42] <market> you watch level 2 when you trade ?

[17:42] <bluemonkey_67> level2, yes most of the time..

[17:42] <market> when you are entring the oder ?

[17:42] <bluemonkey_67> That's when it is most important yes

[17:42] <bluemonkey_67> to see where the size trades lie

[17:43] <market> you use best offer or ?

[17:43] <newguy> Would like to have a level 2 ed chat sometime (yes, I know there is level 2 chat in archives, and I've read it)

[17:43] <bluemonkey_67> No u try to get as near as the entry target as you can

[17:44] <bluemonkey_67> sometimes that's the best offer

[17:44] <daveo> BM: are you going to trade tomorrow? You mentioned earlier that you might go to cash until next week.

[17:45] <bluemonkey_67> Yes day trading, but not holding any swings

[17:45] <daveo> yhx

[17:45] <bluemonkey_67> Anything else folks???

[17:45] <newguy> bm - I'm sorry...

[17:45] <newguy> I'm still not seeing that PSFT call right

[17:45] <newguy> I see the 34.2...

[17:46] <bluemonkey_67> the one we just made?

[17:46] <daveo> more on anticipating level 2 would be nice.

[17:46] <newguy> where does the 35 come from?

[17:46] <bluemonkey_67> 35 comes from the chart

[17:46] <newguy> at what time?

[17:46] <bluemonkey_67> it could be 34.9 but I'd hate to trigger at 34.9 when the stock is so near 35 so I choose 35

[17:46] <bluemonkey_67> 12:30

[17:47] <newguy> ok, but why take the 12:30 high, why not the 11:40 high?

[17:47] <bluemonkey_67> well we do take it

[17:48] <sky> but if psft is in strong basket, should we short near res at 35?

[17:48] <bluemonkey_67> it just comes afterwards

[17:48] <bluemonkey_67> only buy strong basket stocks

[17:48] <bluemonkey_67> only short weak ones

[17:48] <newguy> So basically your looking for the inside range that the stock bounced around in...

[17:48] <bluemonkey_67> do both to neutral

[17:48] <seagar> why are there no phone numbers to contact support or anyone?

[17:48] <newguy> and extrapolating out with FIB

[17:48] <bluemonkey_67> that's the ticket

[17:49] <bluemonkey_67> but sometimes fib works inside too

[17:49] <bluemonkey_67> like here w/psft

[17:49] <newguy> so in the morning...

[17:49] <bluemonkey_67> 35.5 was from fib

[17:49] <bluemonkey_67> support for what seager?

[17:50] <newguy> I would see a bottom around 36.2 and a top around 37...

[17:50] <newguy> ok, and the call was 36.14/37...

[17:50] <newguy> and the rest was fib?

[17:50] <bluemonkey_67> I don't know...I don't have the same chart or the same numbers in front of me

[17:51] <daveo> Can you do a quick example with a level2?

[17:51] <bluemonkey_67> I'll help you with a real time situation tomorrow

[17:51] <bluemonkey_67> it's the same thing as we're doing here though

[17:51] <market> Can you figure out some swing trades if the market fall tomorrow ?

[17:51] <newguy> Well if 36.14/37 was correct, the rest of the numbers extrapolate properly thru fib

[17:52] <bluemonkey_67> level2, in level2 we see all the orders for the stock so as a stock reaches the target entry you can see how willing you should be to get closer to the number

[17:52] <daveo> hence, near?

[17:53] <bluemonkey_67> in other words if entry is 40.23 but there are tons of buyers at 40.25 from looking at level2 you may want to buy a little early

[17:53] <daveo> thanks...that's where topaz has confused me...

[17:53] <ddkjton> this gonna be in the archives?

[17:53] <bluemonkey_67> no market, my recommendation is to stay in cash

[17:53] <bluemonkey_67> yes ddk

[17:54] <bluemonkey_67> at the same time re level2 if you want to buy and there are a lotta sellers you may be better off being patient

[17:54] <ray> Are you also sign on as BRCM, tradingdreams, and sunset?

[17:55] <bluemonkey_67> no

[17:55] <bluemonkey_67> but my name changes to BRCM sometimes

[17:55] <daveo> thx...I was only confused when a couple of days ago topaz recommended YHOO but no target.

[17:55] <bluemonkey_67> for some reason

[17:55] <newguy> bm - Don't know if you saw my suggestion earlier, but these chats would be much clearer, particularly in the archives using the question mark format

[17:55] <Ken> we can fix that later BM. ;-)

[17:56] <bluemonkey_67> thx, hehe

[17:56] <bluemonkey_67> thanks for the idea newguy

[17:57] <ap0> .

[17:58] <market0> over ?

[17:58] <bluemonkey_67> If there's nothing more yes...

[17:58] <bluemonkey_67> anything else guys?

[17:58] <CR-01> A special favor for non english native speakers

[17:59] <sky> when will be the next session?

[17:59] <bluemonkey_67> tomorrow the mkt is open sky

[17:59] <sky> I mean the learning session?

[17:59] <vb1> will this be archived so we can go over it later?

[18:00] <daveo> Thanks BM...it was helpful and hopefully profitable. See ya tomorrow.

[18:00] <bluemonkey_67> we will have them as they are requested...but most of your answers are already available on the website in the archives section, strategy link, lesson link, sup/res link, and in other places

[18:00] <market0> thx

[18:00] <CR-01> Can you prepare an e-mail with some slang financial terms that you use? like lol, hod, etc

[18:00] <sky> thx, blue

[18:00] <ddkjton> how long have you been operating this site BM?

[18:01] <bluemonkey_67> you're welcome daveo

[18:01] <bluemonkey_67> lol---laughs on line

[18:01] <bluemonkey_67> hod --- high of the day

[18:01] <bluemonkey_67> lod --- low of the day

[18:01] <bluemonkey_67> STD has been a corp since Jan '00

[18:01] <CR-01> thx

[18:01] <bluemonkey_67> we have been a goup for about 1 year prios

[18:01] <newguy> I thought it was laughing out loud

[18:02] <bluemonkey_67> tomato tomatoe

[18:02] <ddkjton> do you frequent other sites or ae all pertinent links here?

[18:02] <bluemonkey_67> all important links are here

[18:03] <bluemonkey_67> If there is nothing else I am outta here

[18:04] <bluemonkey_67> I hope this was helpful to you all

[18:04] <CR-01> thx

[18:04] <sky> yes, thx

[18:04] <bluemonkey_67> Bye all

[18:04] <sky> bye

[18:04] <ray> thanks

[18:04] <Ken> night bm