Notes About Our Transcripts
Day Trader Performance Transcripts are published as supporting documentation to our day trading service. Read from top (market open) to bottom (market close).  Time stamps are not supported by our chat software, so we have to manually insert them as we chat and we do so when we think of it. Most of the discussion is about the chart of SPY, which we use to track the S&P 500, and we take our triggers from SPY to make trades in either FAS or FAZ, depending on the multi-day direction of the market.
Daily Transcript
:-Relief bounce so far, but at the open, Spy is likely to complete the close of its gap.
:-FAS may not react the same way, as it is showing a lot of strength in the pre-market.
:-spy has bounced off the top of the gap, but is still likely to fill it, so we're keeping our FAS position light.
:-We'll swing trade it if we get the chance.
:-There's the effective fill, and as we expected, FAS barely participated at all.
:-If spy doesn't bounce at the bottom of the gap, however, then FAS will weigh in.
:-We're waiting to see if this is a dip on its way to a new high, or a failure to make a new high and the beginning of a new downtrend
:-we bailed on half our position at breakeven
:-And took a very small profit on the other half. Too much risk here of a failure at the new high. Just wasn't a high-probability position.
:-After achieving that new high, we have a different situation and an entry on a pullback to support, with a bounce, would be ideal.
:-FAS seems to be waiting for the spy pullback, too.
:-wow, we got a lousy price on that.
:-we actually got .90 and .82 on those trades. not as bad as it looks.
:-failure at the high. we're out
:-That was a nice swing from an average 66.85 to 67.11.
:-I suspect we will see 98.7 on this swing down in SPY.
:-that failure was also at yesterday's high, which will probably not be a problem on the next approach.
:-I imagine most of those buyers are either long gone, or will be patient and look for gains instead of getting out at breakeven.
:-here comes 98.7. As you can see, there is more support at .62 to .65.
:-And this was so predictable that FAS has barely dipped at all.
:-if spy can make it down to 98.6, that might give us 66.75 in FAS, which would be lovely.
:-nice, we got .034
:-this is what we like, a significant pullback, still clearly within the uptrend, with a bounce to show a likely bottom.
:-now the test of the bottom
:-you can still get better than our average price of 67.085
:-very odd. FAS not moving yet, anticipating another dip in SPY. There is resistance here in SPY, but think it will be overcome.
:-still, we're profitable, so we'll prepare a swing trade out.
:-Brought it down to 35%
:-I can't believe how un-reactive FAS is being today.
:-out at .11 and back in at .05
:-Another bounce off our top support line. Boy we draw those well. That's quite bullish for SPY and I don't think this resistance will last long.
:-prepping a swing out in case SPY hesitates again.
:-got a little greedy and missed that one.
:-out at .18 for a ten cent profit on half the position
:-0
:-now the assault on the high for today, and for yesterday and a probable buyable dip.
:-We'll be averaging in so we don't miss a further rally.
:-out for another nice profit and looking for re-entry
:-don't worry about leaving money on the table. Take the high-probability trades which are dips to new highs.
:-another successful swing on a 15% position.
:-successful new high is very bullish - with the huge gap above us providing no resistance
:-you can see our average price on this position is 68.05, so we might swing trade part of it.
:-that's tricky, because we dont' want to be trading against the tape, but also want to protect profits
:-i noticed that for some reason i didn't buy as many shares as I sold, which is deadly, so I took a few more.
:-looking for a FAS price under 68.20 to increase the position
:-swung out a 20% position from .09 to .36.
:-the attempt on the old high is always dangerous territory
:-looked like a polite little dip so i bought back in 10 cents lower
:-took 30% out on a 14 cent gain. If spy doesn’t' clear that last swing high, it's in a downtrend.
:-again in the clear above the last high, creating a much safer situation in which to buy dips or average in
:-got .72
:-for those of you who are new, my trade is not submitted to the brokerage until i hit the blue T button.
:-Unless I'm using one-click trading, where I just click the bid or the ask price and it buys or sells about 15% of equity at market.
:-Sorry, not market, 1-click trading converts the market price to a limit instantly and submits it.
:-look at the divergence. FAS is so strong.
:-sold 20% position fifty-cents above our average price
:-and about .18 above where those shares were bought.
:-bought half of it back jsut 3 cents lower on strong spy chart
:-and the other half 8 cents lower
:-fas lagged behind SPY on that breakout, creating a brief window to buy more.
:-missed that swing opportunity. I though we were going straight through that high this time. Be sure to use stops to protect profits so far today.
:-buying more, but only for a bounce
:-spy is at strong support
:-there may a good bit of fear on the way back up that will slow things down.
:-but both SPY and FAS bounced nicely at strong respective support levels. Uptrend is so far intact.
:-we don't have a definitive failure of that low until this minute closes
:-this is about where SPY should head down again
:-That was a shallow dip, and now SPY has passed the last swing high
:-We're protecting gains of about 3.1% so far today.
:-got .41 on that trade, increasing our position on this dip, after SPY achieved a new high, with FAS far behind.
:-got .33 on that one.
:-this sharp pullback is not extreme - only to the last swing low so far.
:-we just sold off the entire position in the aftermarket at an average price of about 68.23.
:-Our gain for the day in the live account is 3.1%.

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