Yesterday’s best trades were in WFMI and FSYS. I am nearing a 20% total portfolio gain for just this week alone and the week isn’t even over yet. If you don’t believe me, then obviously you’re a nOOb reader in the CA Trading Room. I am the one and only Chart Addict and my returns are far superior than yours. Stick around for a while and you might learn something.
Yesterday’s call on the general market was very wrong, and I don’t care. I don’t even trade the general market. It’s such a beautiful thing when your predictions are wrong, yet you still make a +6% total portfolio gain. Hope that’s a lesson in playing only the best and highest probability trades, regardless of overall direction.
I have to see how this next leg turns out. I estimate that it will be another week before a IT determination can be made. Always keep an open mind and never let your opinions get in the way of great opportunities. You are your own worst enemy. Never forget the POWER OF CHARTS.
I have no idea where we are going in the markets, but I guarantee you that I will win again today – that would make every single day of this week a win. Watch and learn, folks.
—-
UPDATE: Due to popular demand, I decided to spend the time to annotate my FSYS trade from yesterday. All documented here on the blog and on twitter in real-time. I will make my “trade review” a regular thing here.
Hey Chart Addict,
You have a trading room? Give me the details!
I was referring to the title of the CA blog.
I do have a live one and it’s for my good friends that trade with me on a daily basis.
Hey CA,
I’ve recently left a large prop trading firm after a long successful run and am trading for my own accounts now. I’ve been looking for some new and different ideas to add to my trading arsenal and ran across stocktwits. From all the guys on there you seem to be one of the very few I’d give a second look at. When you’ve met and traded with so many traders over the years its not hard for me to sort thru the BS and find the real talent. You seem to know your stuff down to a “T” and have the balls to make the calls.
Would love to chat with you sometime via ph/MSN/Skype etc and perhaps share some tips/tricks/strategies. You never know what you or I might learn from each other. In the almost 20 yrs I’ve traded now I do know you can never stop evolving your trading knowledge to stay on top of your game. This was especially true in the prop world I came from.
Anyway let me know if you want to chat some time and exchange ideas. In the meantime keep up the awesome work.
B
Thx retox, how are the fills in general after your stop is activated
Sometimes close sometimes not so close.
This was one of the better- the nearer to the recent price action the better (adds risk of course). I think the pre-spike up had mkt buy orders coming in during the push down which really helped (not for them – ouch).
I’ve learned that, if you are not close, don’t bother at all. And it must be a heavily traded contract (/ES, /CL, or /6E).
pure eloquence CA – one to print, frame and read every day for motivation and clarity.
I agree totally. CA’s the best.
hear, hear, thanks CA
thx folks
more oil short 78
going for fresh lows
push to 1061 start…
bring it up to unload longs and dump it – it’s a working thesis – we’ll see
ain’t going to be a gap down with another 90% day
TCK break out
AIG!
AIG it’s hard to catch the chart, it’s up and down so fast
enter on rip failure – cover on the bottom trendline
BX
CA,
What locked you on to WFMI and FSYS? Was it volume spikes or were they already on your watchlist?
read his education articles, very helpful,
from what I’ve learned from this blog, I’m going to guess it was on his watchlist after the huge gap down, once it broke the descending triangle intraday, he was short on accompanying volume
it looks like a spiker candidate today by the way he’s playing it
it is now about liquidity and if the price patterns are stable. This has to be determined in the first 1-3 minutes of the trading day.
INO running here… way oversold, imo.
APOL suffering
fins suffering…
XLF struggling with 10 sma (14.33)
AONE Short
WNR nice bear flag on 1 month was right at resistance and being hogdrug…
top of the channel – 1 hour chart /ES for the week
Sym tri on /CL 1 min. The correlations are all messed up but a break above 1068 on /ES could give oil the push it needs to rally to the 10 day at 78.94
it’s the safest short today
will die harder faster and cleaner on SPX fail
will not participate in the upside
been that way for a few days – sticking with it until it doesn’t work
I’m still calling fresh lows on /CL today
I know it’s crazy, but it’s true (sing it loud).
Short from .51; Cover .30; +21
Short again .27
watch for a reaction at 78
Cover .02 +25
well i’m no good at calling new lows so i’ll leave that to you, but my bias is also short. im content to take small pieces along the way
unless we see some major weakness in /ES or /6E here i’m going to stay out of /CL until we get a response to the 20 day at ~.64
in again at .54
gotta love that easy money though Mike
It’s cool to miss some of the trend as long as you GET some of the trend
Couldn’t agree more
vacuum packed, crisp, & cold
fresh lows
I’m running the oil tape like I used to run Euros – Forex is soooooo October – THIS is where it’s at.
Cover .18 +36
nice job Mike
CL can be a bitch to trade unless you have an edge – then it’s pure gold
black gold, that is ; )
short XLF 14.28
gonna be a fight soon – long have to stop this /ES decay
61 should be the spot – failure should go to 58
these S/R numbers are killing the tape! – 61 failed 3x – hit 58 and reversed
Fly, quit writing on CA’s blog.
lol
SWKS
Buona notte olio
short cover 77.14
I am done today with monster pre-market wins in crude and 2 solid overnight wins.
P.S. my “working” thesis “worked”
JL Your trading is a pure art form at its best. Feel like I am watching a great Art being developed live. Very amazing. Thanks for sharing and keep it up. You deserve the bragging right.
word
covered XLF short 14.17 +0.10
bad math 0.11
1058 /ES is critical
remember 1052 is the pivot (not the official number but it’s my pivot)
yes bounced here.
61 – 58 ping pong – take the break
get out if the bottom line fails!
watch for it to base above 61 for a safer trade
choppy, basing as you predicted
basing – somebody wants to try to stay over 10k DJX – you must still have that chart up today.
put it in a little gadget and nail it to always on top
sheesh, when did the locals short???
1058
idiot trade
they were trying to break support.
feels like yesterday late morning
it’ll end in tears
that was my plan for yesterday, so yes it may work today
We’re also stuck just under the March uptrend support line – will be powerful resistance IMO. A good place to CONSIDER swing shorts with a defined stop loss.
ignore that – my chart is moving the lines when I go from day to minute and I saw it fast
anybody get APOL???
I am back from a class
we had a party – sorry bout the mess – no time to clean.
oil ready to give up 77 if /ES fails
Short $STEC 13.70
goin for more oil soon
in from .18 – dangerous
Chop just wiped out a substantial % of my profits today, out of oil until the chart cleans up
Mike, I’m sorry. “dangerous” for me usually means intermediate potential to get smacked around with longer term payoff
Oh I wasn’t following your trade when it happened. I was just getting impatient and trading less than ideal setups. Lesson learned. : )
“I am extraordinarily patient, provided I get my own way in the end.”
Margaret Thatcher
covering 76.78
+40
always hard to get the last crumbs of the trend – especially with a crazy short coming out of a rising wedge
just figured it would fail with dramaticism (yeah, it’s a word, look it up). longs would panic, sell stops get hit; you know the story
was a support line I had on the chart
here comes our friend the solitary pit trader bidding it up again…as we speak
I would do it all day long myself if I could. Just remember there are 2 sides to every trade.
Short more $STEC 13.58
Short $AONE 16.75
Covered all $STEC 13.57/frac
Covered $AONE 16.91
sbux
I’m starved. Time for lunch. keep /es right here for me
OPTT
mnkd
Bought $OPTT 8.57
Sold half $OPTT 8.72
Sold other half $OPTT 8.945
Bought $WFMI 28.09
Added more $WFMI 28.22
You’re good, CA
Short $STEC 13.46/47
Cov $STEC 13.45/46/47
INO imminent
3rd buy/add-on $WFMI 28.34
should have /CA
futures contract on CA portfolio
Bought 4th addition of $WFMI 28.42
too fucking choppy…short term trend keeps breaking on both sides…
if you stare at it and focus 2 feet behind your screen you can see an asc tri forming on /ES 1 minute chart – with vol confirmation.
next 30-45 minutes will confirm or deny. will be my final trade.
power packed trading fun.
just watch 1070 area for resistance – top of the channel
downside move – use the same support we’ve been talking about
faster than I thought – in it
1070.25 target to reverse and go short
should have been in at the bottom but it faked me in
it’s the fourth test of the 1 min trendline….feels more likely it will break…?
I’m NOT shorting this tape – too slow.
I had a hell of a week so I’m willing to risk this last trade. If it holds the line there will be enough wee-wee short covering to blast us up a bit.
will probably go home swing short /ES though.
watch dow 10k
oil traders closing the floor session expecting further upside in mkts. nice push into 2:30!
hedged with a small oil short
reversed on #
Sold all $WFMI 28.35/36
CNO one to watch
LEE taking the steps
Will be interesting to see if SPX moves decisively above 1070 today.
feels like we’re up a hell of a lot more than just 3 points eh?
Bought $OPTT 9.21/22
CVM
Out $OPTT 9.04/05
RIMM lower highs and lower lows on daily 1m chart and just broke the 100 min and ascending triangle
get shorty… 58
nice click to edit function
3:00pm USD Consumer Credit m/m -9.9B expected
how do these boyz synchronize the buying/selling at the 3.20/30pm ish time? do they have secret earphones and say ‘let’s go chaps’ ?
seriously they work 9.30 to 11.30 and then come back for the last 45 mins. What the fuck do they do in between? Any brothels around where they get their blowjobs?
most of it is done through arb programs
the number hit and there was a 10 second lag before it dumped
broke the trend line, but they are fighting it and bidding it back up???
mostly feels like balancing out now – shorts from above covering (they tried but couldn’t drop it)
also some paper buying – could be more short covering or a bid to take it up for a dump – or poss opening positions into the weekend.
scalping tape
you never know why the buying is coming in – you just have to react to it and stay on the right side of the tape
covered 57.77 +0.23
Bought $WFMI 28.48
Out $WFMI 28.48
Long CVS 29.66
CA,
any comments about what typically happens to stocks like WFMI on the third day? any candles to watch or anything?
it varies, but I usually never touch stuff on the 3rd day because the volume dries up.
I mean TCk
you twat!
Short $AIG 35.32/33/34
Short more $AIG 35.26
but I don’t hate you… think it’s because you look like a girlie boy and your big talk is ridiculous coming from a little tinker.
CVS could fly. In at 29.66
Removed half $AIG 35.46
Out other hlaf $AIG 35.47/48
avg day
Got some ARIA …
Short $AIG 35.38
sayonara bitches
goin’ home short-ass-short
You short /ES Retox? what level are you in?
rofl and out $AIG 35.38 haha
hey CA – have you ever charted how loud people from different cultures eat? For the past 10 years, all of the chinese people I have met and worked all eat disgustingly loud – they all eat with their mouth totally open for the whole meal – it’s at the point now I can’t even sit in the lunch room with asians – all I hear is their lips smacking together – it’s disgusting – I car pool with a Chinese person to work, and sometimes he eats breakfast on the way to work – I nearly gag for the whole ride, and I absolutely have to roll down the window and crank the radio to block out the smacking of their lips and their mastication of their food.
im not chinese u idiot
Retox: thaks for all the info you provide throughout the week, invaluable!
Definitely! Have a great weekend!!!
Would love to open that long /CA, multiple contracts.
isn’t it all the same? lol! Have I offended you yet? ahahaha – humility is something you should brush up on
say some of that shit again and see what happens. Your visits to iBC will be permanently halted.
I’m just teasing you man – thanks for the great work this week…
So how do you find the stocks you want to play for the day? and how many are on your watchlist in a given day?
do you go after news?
taking oil for a hurricane fool ride up to 79
fundamentals are wrong and the hurricane will be a non-event but it should still make a run
I will endeavour (sic) to get short after the sun gain shine down on Thuder Horse.
sticky “a”
sticky “s”
sticky “n”
you figure it out
closed 1 at 78.30
+26 trying to lock some in as insurance (still 4 long)