Market Week Wrap-up

Market Week Wrap-up

- A tone of uncertainty overtook global markets this week, as investors contemplated the ambiguous growth outlook for 2012. Trading pivoted around the FOMC rate decision and press conference on Wednesday. The Fed once again moved the goal posts on its "extended period," saying that rates would remain low until late 2014 (recall that it was only last August when the Fed introduced the mid-2013 language). It also tempered its economic forecasts, warning of lower US GDP growth and higher unemployment rates over the next two years. PIMCO's Bill Gross called the FOMC's low rate pledge extension the equivalent to QE 2.5 and suggested that the Fed may be preparing additional easing to boot. Before the Fed move, the IMF lowered its 2012 global GDP forecast (to 3.3% v 4.0% prior) and IMF Chief Christine Lagarde warned that the global economy could be in danger of sliding into a "1930s moment." Data out on Friday showed that US GDP grew 2.8% in Q4, a sharp acceleration from the 1.8% in Q3 and the quickest pace since the second quarter of 2010, although still less than expected, and the quality of the growth was questioned as unsustainable inventory builds were a major contributor to the number. In Europe, negotiations between Greece and its private creditors were much in the news, and it appears that officials have set a final deadline of February 15th to announce a deal, with hopes that final details can be worked out this weekend. For the week the DJIA lost 0.5%, the NASDAQ gained 1.1%, and the S&P 500 was up less than 0.1%.

- About one-third of the DJIA components reported December quarter results this week. Caterpillar offered the strongest results of the bunch, bulldozing expectations and offering a very strong outlook for FY12. AT&T had the most fraught results, with a $6.7B quarterly loss largely from the breakup fee owed to Deutsche Telekom after the deal to acquire T-Mobile fell apart. Nevertheless, the company's iPhone sales were through the roof thanks to the new 4S model, and its other metrics held up well. Johnson & Johnson, McDonalds, 3M, United Technologies, Proctor & Gamble and Verizon offered solid, in-line results, including decent y/y profit and revenue growth, although executives at the companies offered cautious comments about the business outlook for 2012. Boeing's profits were well above par, thanks mostly to a one-time favorable tax settlement, but the firm's initial outlook for 2012 was weak. Proctor & Gamble warned that earnings will continue to be negatively affected by higher commodity costs and said it would consider lowering prices in some categories to take back market share. Travelers' profits fell as lower interest rates impaired the firm's earnings.

- In the oil patch, ConocoPhillips easily topped earnings estimates as profits grew more than 60% y/y. Revenue grew sharply as well, helped along by higher crude prices. Shares of Chevron fell after a disappointing Q4 report. It's not like the analyst community wasn't warned - back on Jan 11th, the company cautioned that earnings would be down significantly on a sequential basis. In any case, both earnings and revenue missed the mark by wide margins, and the firm's US downstream operation lost money. Oilfield services name Haliburton modestly topped consensus estimates in its Q4 report, and for the year reported a 57% gain in profits over 2010 levels.

- Automaker Ford's profits in Q4 were lower than expected, although earnings were up on a y/y basis. Ford's European unit posted a $190M loss due primarily to higher materials costs, while its Asia Pacific segment lost $83M related to the impact of flooding in Thailand.

- The Nasdaq outperformed other major US indices this week largely on the strength of Apple's Q1 results, with both earnings and revenue absolutely demolishing consensus expectations (earnings were up more than 50% y/y) and driving Apple shares to fresh all time highs. iPhone shipments also blew out expectations, at 37 million units, up 128% y/y. Apple itself even seemed surprised by the results, noting that sales of iOS devices were "stunning" and saying that customer demand was "off the charts" in the quarter. Netflix closed out its FY11 with a bang, crushing earnings and revenue expectations. However, the firm also warned that would see losses throughout FY12, with continuing attrition in its DVD subscriber base. Texas Instruments results were weak thanks to various charges associated with the National Semi acquisition and factory closures. Executive said the semi business would rebound in 2012, with a resumption of demand across a broad range of products and the inventory correction cycle bottoming out.

- Negotiations between the Greek government and its private creditors were a major focus this week. Talks between the two sides have been ongoing for months, and by Friday, the Greek finance minister stated that the final deadline for a deal was February 15th. At the Ecofin meeting on Tuesday, euro zone finance ministers hashed out the debt restructuring terms they could accept. Creditors, represented by the Institute of International Finance's (IIF) made their maximum offer, although the real outstanding issue was whether Greece would apply a collective action clause, which would force creditors to accept a write-down or whether the deal would remain "voluntary." The other major outstanding issue is the coupon on the new debt to be issued, while various legal issues are also seen as potential hurdles to an agreement. The talks stalled several times throughout the week, but optimism about the changes for a deal remained in place heading into the weekend. There is still plenty of skepticism about Greece, deal or no deal. German Chancellor Merkel said that she did not believe the existing multibillion dollar bailout coupled with austerity measures were working after two years of crisis. Meanwhile S&P's Chambers said that Greece would likely be downgraded to selective default in the first half of 2012, calling the move a matter of "when, not if."

- The FOMC post-rate decision statement determined the fate of the greenback this week. Analysts said that if the committee adopted inflation targeting, EUR/USD could retake the 1.3250 area, while no inflation targeting would provide the EUR/USD with momentum to test the low 1.2800's. The Fed explicitly committed itself to an inflation target with the decision, and EUR/USD was above 1.3200 by Friday. The extension of the extended period to 2014 didn't help the dollar, either, and by week's end the greenback was at one-month lows against the GBP and two-month lows against the CHF. Note also that euro short positions hit their fourth consecutive weekly high.

- The yen began the week on a softer note, aided by comments from BoJ Chief Shirakawa, who said he was still concerned about yen strength, causing the usual intervention jitters. The looming Japanese fiscal year-end could also be prompting Japanese life insurance investment adjustment activity. JPY continued it soft tone against the majors following the country's first annual trade deficit in over 30 years. Traders cautioned against reading too much of "competitive decline" into the trade figures, given Japan's current account remains in surplus. Nevertheless, many took it as a cue to unwind bullish bets on the Japanese currency.

- The Reserve Bank of New Zealand left its cash rate at 2.50% as expected, reiterating its concerns over the impact of the European debt crisis and uncertain global economic conditions. RBNZ also cut its assessment for inflation entrenched below 2% while pointing to the recent strength of NZD weighing on exporters, effectively deflating any outside chance of a rate hike over the medium term. In Australia, quarterly inflation metrics for Q4 were mixed, with headline CPI coming in flat but trimmed mean (core) metrics showing a surprising increase to 0.6% from 0.4% q/q. Inflation data makes the case for another RBA rate cut on February 7th slightly less certain, even though fixed income markets continued to price in an above-80% chance of a 3rd consecutive 25bps easing.

TradeTheNews

Jan 27 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

 Wanted to finish a good week on a good note but that wasn't in cards. Narrow low volume day, our patterns didn't work, a lot of rinses. Ended in red. Oh well. 


Session Time: Fri Jan 27 00:00:00 2012
[09:03] {Threei}  good morning
[09:03] {nemo} don't start that again
[09:03] {Threei}  there you go
[09:03] {nemo} stop provoking me
[09:04] {Threei}  sorry...
[09:04] {Threei}  no, I am not
[09:04] {nemo} no you're not
[09:04] {Threei}  :)
[09:04] {nemo} New Year's tonight...have to take a nap later
[09:04] {nemo} lining up my hangover remedies
[09:05] {Threei}  Chinese?
[09:05] {nemo} Y
[09:05] {Threei}  and you have to do with it what exactly?
[09:05] {Threei}  oh, temple
[09:06] {Threei}  got it
[09:06] {JK13} gm
[09:06] {Threei}  JK :)
[09:06] {nemo} pheww
[09:06] {nemo} were you a blonde?
[09:06] {Threei}  sorry I am dense on Fridays
[09:06] {Threei}  and Thursdays
[09:06] {Threei}  most of Weds
[09:06] {Threei}  some of Tuesdays
[09:07] {Threei}  Monday's, I can tell spoon from fork
[09:07] {Threei}  Sat and Sun, I am very sharp
[09:13] {Beau} good morning you all on dense Friday
[09:13] {Threei}  lol
[09:13] {Threei}  morning beau
[09:14] {swill} morning
[09:14] {Threei}  swill })
[09:14] {Threei}  you OK?
[09:14] {swill} good to go
[09:15] {Threei}  ok... you haven't been here for couple days, and then I read in Times Colonist about these misterious sounds and ground shaking
[09:15] {Threei}  I immediately thought, it was you snoring
[09:15] {swill} it was my brain
[09:19] {rambler} morning...
[09:20] {Threei}  rambler :)
[09:21] {Threei}  here it is: http://www.timescolonist.com/news/Whole+lotta+shakin+wasn+earthquake/6052624/story.html
[09:23] {swill} maybe it was the sun
[09:25] {rambler} saw a news report last night about a blast used to fuse metals for american military
[09:26] {swill} i hope it has a good effect on trading
[09:27] {rambler} apparently 2 companies do this just across the water from Victoria
[09:29] {Threei}  FCX short into bounce is first idea, half lot
[09:29] {Threei} Short Setup: FCX  .20 break
[09:30] {Threei}  if stays under .30
[09:31] {Threei}  invalidated for now
[09:32] {nemo} I went long at .22
[09:32] {Threei}  cool
[09:32] {Threei}  out yet?
[09:32] {nemo} nope partialled at .48
[09:32] {JohnH} fading the host
[09:33] {nemo} no, huge holding offer, went whichever way it went
[09:33] {Threei}  with just a few cents stop, why not... risk-based trade
[09:33] {Threei} Short Setup: FCX  .50 break
[09:33] {nemo} yeah, my stop would have been if it dropped the held offer and didn't rebid
[09:33] {Threei}  if stays under .60
[09:34] {Threei}  not yet
[09:34] {rambler} ouch...that wasn't fun
[09:34] {Threei}  FCX repeats yeetrday's opening
[09:35] {nemo} out .85
[09:35] {nemo} +62
[09:35] {nemo} .62
[09:35] {Threei}  wtg
[09:35] {nemo} ty for pointing out the held offer
[09:36] {Threei}  bid you mean
[09:36] {nemo} semantics, when I see all the green I think offer
[09:36] {Threei}  another spike to .80 for double top should give us an entry
[09:36] {_mark1} btw nemo nice trade
[09:37] {nemo} ty
[09:37] {nemo} frankly, that was the easiest type
[09:38] {Threei} Short Setup: FCX  .80 break
[09:38] {Threei}  if stays under .90
[09:38] {Threei}  target 1:3
[09:39] {Threei}  sheesh
[09:39] {Threei}  no go
[09:39] {Threei}  or rinse
[09:41] {Threei} Short Setup: SLW  49 break
[09:41] {Threei}  if stays under .10
[09:41] {rambler} SLW ?
[09:41] {Threei}  grr
[09:42] {Threei}  disregard, wrong symbol
[09:42] {Threei}  told you... friday
[09:42] {rambler} LVS
[09:42] {JohnH} SLW looks good for a short at .90
[09:42] {Threei}  or long .96
[09:43] {JohnH} ahh the ambivalence
[09:46] {dino} out slw .08 +.12 ty vad
[09:46] {Threei}  yw
[09:47] {Threei} Short Setup: ABV  .95 break
[09:47] {Threei}  if stays under .05
[09:49] {Threei}  target 1:3
[09:49] {Threei}  there is no significant support down to about .50
[09:51] {dino} s2 36.75
[09:53] {dino} fslr
[09:53] {Threei}  market an't decide which way
[09:54] {thomcbell} auy setting up for a long here
[09:54] {Threei}  *(US) JAN FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 75.0 V 74.0E
[09:55] {dino} abv stop -.06
[09:55] {Threei}  out
[09:55] {Threei}  ok, not delighted
[09:55] {Threei}  slow climb
[09:55] {Threei}  my most hater environment
[09:55] {Threei}  hated
[09:56] {nemo} spy likely to 132.21 pivot'
[09:56] {swill} can i go home now
[09:59] {Threei} Short Setup: FCS  .35 break
[09:59] {Threei}  FCX
[09:59] {Threei}  if stays under .45
[10:00] {Threei}  target 1:2
[10:01] {Threei}  are you blind, FCX?
[10:01] {Threei}  look at SPY
[10:01] {Threei}  finally
[10:01] {Threei}  1:1
[10:02] {Threei}  stop for the balance to .31
[10:03] {Threei}  1:2 target hit, out
[10:04] {Threei}  capable of more but we need this sure win
[10:04] {rambler} yo...
[10:05] {Threei}  see swill... too easrly to go home
[10:05] {dino} cci
[10:05] {Threei}  let's dig ourselves out a bit
[10:05] {swill} fish in a barrel
[10:05] {Threei}  not really, lol... even this one made us sweat a bit
[10:06] {swill} lol
[10:06] {Threei}  that bounce back to the high while SPY was dropping was a bit unnerving
[10:07] {swill} live and learn
[10:08] {Threei} Long Setup:  LVS  .40 break
[10:08] {Threei}  half lot
[10:09] {dino} cci vsm s .06
[10:09] {Threei}  stop under .30
[10:09] {Threei}  target 1:2
[10:09] {nemo} .50 is pivot
[10:10] {Threei}  yes... LVS tends to overshoot though
[10:10] {dino} rmd?
[10:11] {Threei}  goopd report, upgrade
[10:11] {Threei}  no go LVS
[10:11] {rambler} durn..
[10:12] {dino} quad drop
[10:13] {Threei}  frikin ABV
[10:13] {Threei}  rinse
[10:13] {Threei}  by 1 frikin cent
[10:13] {thomcbell} auy 17.42 break
[10:14] {thomcbell} if holds 17.30
[10:18] {thomcbell} auy take a look at gdx
[10:21] {dino} wtf cci bstop slip by .10, out -.36
[10:21] {stewy} tcell in at the break on auy ty
[10:21] {thomcbell} 1:1 rising in agone
[10:21] {thomcbell} agony
[10:21] {thomcbell} lol
[10:22] {Threei}  good one
[10:23] {Threei} Long Setup:  RCL  28 break
[10:23] {thomcbell} i partialled 1/3  + 0.14
[10:24] {Threei}  just a scalp most likely
[10:26] {Threei}  stop .93
[10:26] {thomcbell} 2:1 second partial
[10:26] {Threei}  wtg
[10:28] {dino} gj
[10:29] {nemo} played momo gdx break of .80
[10:29] {Threei}  sigh
[10:29] {nemo} out 57.10 on two lots
[10:29] {Threei}  not my day eh
[10:29] {dino} stop rcl
[10:30] {nemo} entered at .91 for second lot
[10:30] {rambler} dang...
[10:30] {swill} will be back in a while.  don't give up yet
[10:30] {rambler} good news we can drink tonight....sleep in tomorrow...
[10:31] {Threei}  shrug
[10:31] {Threei}  not a first losing day
[10:31] {Threei}  nor last I am sure
[10:32] {thomcbell} out on balance auy +0.25
[10:32] {Threei}  wtg
[10:32] {stewy} nice one tcell
[10:32] {dino} struggling here too
[10:33] {thomcbell} tu
[10:33] {Threei}  some days are like this... listless
[10:34] {dino} get this 1 of my 3 cpu died monday. now this morning the screen on my 2nd computer fried
[10:34] {Threei}  either direction appears and our patterns start working again
[10:34] {Threei}  or not
[10:34] {dino} i have this room on daughters netbook
[10:34] {Threei}  wow.. gremlins, dino
[10:34] {rambler} someone trying to tell you something...
[10:34] {dino} barely see it
[10:39] {Threei}  AUY starts looking like short on .50 break
[10:40] {thomcbell} yes
[10:43] {rambler} anybody take AUY  ..?
[10:43] {Threei}  yes
[10:43] {stewy} yes
[10:44] {Threei}  just a scalp for me
[10:44] {Threei}  stop .56
[10:46] {thomcbell} fcx really puked here
[10:47] {Threei}  don't even look at RCL
[10:50] {Threei}  out
[10:50] {rambler} what can we say about this day.....
[10:51] {dino} so far it sucks
[10:51] {Threei}  precisely
[10:54] {dino} bacpe
[10:54] {dino} jazz
[10:56] {nemo} guess I won't tell you about my day
[10:56] {dino} cci spike
[10:57] {Threei}  why... by all means do
[10:57] {Threei}  if it's a bad one, we will feel shared misrey
[10:57] {Threei}  if good, we will follow your next call
[10:57] {nemo} Killed FCX and GDX and have done my usual tna dance
[10:57] {Threei}  if today's market lends itself to your read, we want to benefit
[10:57] {nemo} shorted rig when it dropped .70
[10:58] {dino} gj nemo
[10:58] {nemo} and I even had to fix my computer
[10:58] {dino} that tna dance sounds hot
[10:58] {nemo} jeez dino
[10:58] {Threei}  lol
[10:58] {dino} :O
[10:59] {nemo} I have a real wise ass comment, but I have too much respect for dino
[10:59] {dino} lol
[11:00] {stewy} i'm thinking wfc breakout
[11:01] {Threei}  .35 break?
[11:02] {stewy} yes
[11:02] {Threei}  I am torn between "looks right to me" and "with my today's luck you don't want my endorsement"
[11:03] {stewy} understand
[11:03] {stewy} looked as if it wanted to lead xlf into green
[11:03] {Threei}  so... it looks right to me but with my today's luck you don't want my endorsement
[11:03] {stewy} ;)
[11:05] {rambler} any golf fanatics in the crowd...?
[11:06] {Threei}  ese
[11:06] {dino} i like golfing
[11:07] {rambler} brother in law just put out a golf book....
[11:07] {dino} hes l .09
[11:07] {dino} cool rambler
[11:07] {rambler} "Golf Shorts and Plus Fours"
[11:07] {rambler} Wayne T Morden
[11:08] {dino} any good?
[11:08] {dino} put you on the spot
[11:09] {rambler} know nothing about the game myself but .....I'm hoping it does well
[11:10] {dino} kmp drop
[11:11] {nemo} gdx dt
[11:12] {rambler} thinking the frustrations of golf and trading quite similar....?
[11:13] {nemo} nah
[11:13] {nemo} trading closer to the frustration of women
[11:13] {nemo} nothing compares
[11:13] {Threei}  why don't we focus on rewards
[11:13] {nemo} of women or trading?
[11:13] {rambler} or maybe the highs and the lows...
[11:13] {Threei}  anything
[11:13] {nemo} o.k.
[11:14] {nemo} TV dinners and hookers
[11:14] {JohnH} success with women, trading, or golf, which would you choose?
[11:14] {nemo} trading and golf
[11:15] {nemo} if I do well at trading, I can afford good hookers
[11:15] {dino} atrading, bcause once you get the money you can get the rest
[11:15] {JohnH} tony montana
[11:15] {dino} yes
[11:15] {Threei}  WFC works
[11:15] {nemo} yeah, great sister
[11:16] {Threei}  despite my endorsement, lol
[11:16] {Threei}  took a scalp
[11:16] {stewy} yep thats it
[11:17] {JohnH} 1:1? what was the risk level
[11:17] {Threei}  under .30 for me
[11:18] {Threei}  double shares, out .42
[11:21] {stewy} got the 1;1 scalp wfc
[11:31] {thomcbell} fcx 46.80 break
[11:31] {thomcbell} Vad?
[11:31] {thomcbell} 46.82 maybe?
[11:31] {Threei}  not sure
[11:32] {Threei}  chart is right but SPY feels wrong for a break
[11:32] {nemo} spy is walking along a weekly resitance level, IWM been running
[11:32] {nemo} UA running
[11:35] {dino} hes stopped
[11:38] {Threei}  glad FCX never triggered
[11:38] {Threei}  that would be a nasty trap
[11:39] {thomcbell} yes fugly
[11:43] {nemo} keep an eye on tna as it pulls back to the .30 area, if spy looks like it will move north, take it long
[11:43] {Threei}  .15 area looks more probable to me
[11:43] {nemo} especially if spy is already near .05
[11:44] {Threei}  but again... you'd probably want to go with nemo's read tofay rather than mine
[11:51] {Threei}  TZA
[11:51] {Threei}  if drops under 21, will look for entry
[11:52] {nemo} not alot of room below before resistance in iwm and spy
[11:52] {nemo} support
[11:52] {nemo} you also have r1 support for the weekly at the tna pivot
[11:52] {nemo} be ready to cover there and go long
[11:53] {nemo} now I could be wrong (the FWB tells me I'm wrong all the time)
[11:54] {Threei}  you could just as well be married
[11:54] {nemo} no, then you have to live with them
[11:54] {nemo} I can send her home or tell her not to come over
[11:54] {Threei}  but that would be wrong
[11:54] {Threei}  again
[11:55] {nemo} of course, but that's when I say "F' it"
[11:55] {Threei}  which is so wrong...
[11:55] {Threei}  OK, let's see
[11:55] {Threei}  TZA
[11:55] {Threei}  need a bit more selling
[11:56] {Threei}  some consolidation between .0- and 21
[11:56] {Threei}  .90
[12:07] {Threei}  who took it, feel free to get out here
[12:08] {Threei}  not counting on much, just a lunvhtime scalp
[12:08] {Threei}  and here for sure
[12:08] {Threei}  no news
[12:09] {Threei}  let's try to catch that TNA bounce
[12:09] {Threei}  one more leg down for me to get interested
[12:10] {rambler} was TZA a trade...?
[12:11] {Threei}  discretionary
[12:11] {Threei}  described it, with no exact call
[12:11] {Threei}  kind of - like it, take it
[12:11] {Threei}  [11:51] {Threei} TZA
[12:11] {Threei}  [11:51] {Threei} if drops under 21, will look for entry
[12:12] {Threei}  11:55] {Threei} TZA
[12:12] {Threei}  [11:55] {Threei} need a bit more selling
[12:12] {Threei}  [11:56] {Threei} some consolidation between .0- and 21
[12:12] {Threei}  [11:56] {Threei} .90
[12:12] {rambler} gottcha....
[12:12] {Threei}  the way this morning ent, you understand my hesitation to make confident calls
[12:13] {rambler} lol
[12:13] {Threei}  one of those days when patterns just don't work
[12:13] {Threei}  rare but unpleasant enough to make one hesitant
[12:16] {Threei}  .05 - .10 area is what I look for now for TNA long
[12:18] {nemo} I'm long from .28
[12:18] {Threei}  yup, your entry works
[12:18] {nemo} partialed .45
[12:19] {Threei}  11:44] {Threei} but again... you'd probably want to go with nemo's read today rather than mine
[12:19] {nemo} multiple levels there in both spy and iwm
[12:19] {nemo} I had bunny take the trade for me
[12:21] {nemo} anybody else take the trade, I laid out the strategy earlier
[12:21] {nemo} Hehehehehe...didn't think so
[12:22] {stewy} gd job
[12:22] {nemo} stewster....I publish the levels every week...very easy to follow
[12:22] {nemo} covering here
[12:24] {stewy} is that yer pivot analysis posted?
[12:24] {Threei}  every weekend
[12:24] {nemo} yep, and I give you the links to import the levels for the week
[12:25] {nemo} the only thing you have to adjust is the 50 and 200 day sma
[12:25] {stewy} ok i see it there at RT
[12:25] {Threei}  FCX didn't really bounce with SPY
[12:25] {Threei}  watching as possible short candidate
[12:26] {nemo} probably going to .80 area, that's where I'd look to short, but then you'd be dropping into that mess
[12:30] {thomcbell} this DLR is on my radar for a long
[12:30] {thomcbell} gets lumped in with eqix amt cci sbac
[12:30] {thomcbell} stocks are all on fire
[12:30] {thomcbell} market misbehaving though
[12:32] {nemo} market never misbehaves
[12:32] {Threei} Short Setup: FCX  .60 break
[12:32] {Threei}  if stays under .65
[12:33] {thomcbell} gdx maybe too
[12:33] {nemo} jist ;pplomg at tjat
[12:34] {nemo} just looking at that
[12:34] {nemo} hal
[12:34] {thomcbell} nice tight stop
[12:35] {Threei}  target 1:2
[12:36] {dino} eog sm l.49
[12:39] {Threei}  if this one gets stopped, I am eating my keyboard
[12:40] {Threei}  which will be very unfortunate, it's a new keyboard and I like it
[12:40] {rambler} die spy...
[12:41] {Threei}  and I really doubt it's tasty
[12:41] {Threei}  hanging by the thread
[12:42] {Threei}  stopped
[12:42] {Threei}  bye bye keyboard
[12:42] {rambler} salt and pepper....?
[12:42] {stewy} not your beloved q key?
[12:42] {Threei}  and breadcrumbs
[12:42] {Threei}  bacon wrapping is likely
[12:43] {Threei}  4 good days, with yesterday being very good - and today I can't hit the sky while shooting straight up
[12:45] {Threei}  oh good FCX, NOW you are dropping
[12:46] {Threei}  btw, do you remember where I said RCL was likely to go?
[12:46] {Threei}  .50 area
[12:46] {Threei}  ,look at it
[12:48] {Threei}  and here comes FCX 1:1
[12:48] {Threei}  after a rinse
[12:48] {Threei}  shrug
[12:48] {Threei}  one has to know when it's not one's day and quit early
[12:48] {Threei}  1:2, which was intended to be an exit
[12:49] {Threei}  nemo, care to take over? :)
[12:49] {nemo} I have to take a nap for the evening events
[12:51] {Threei}  1:3
[12:51] {thomcbell} very nice Vad
[12:51] {Threei}  would be if it didn't rinse me by 1 cent
[12:52] {Threei}  1:4
[12:52] {Threei}  lol
[12:52] {thomcbell} dino about to buy some here fcx lol
[12:53] {thomcbell} slw showing very nice relative strength here
[12:59] {Threei}  uh oh
[12:59] {Threei}  Fitch on EU
[12:59] {Threei}  a few downgrades
[13:00] {Threei}  lowers Belgium, Cyprus, Italy, Slovenia, and Spain
[13:01] {Threei}  quite subdues reaction
[13:02] {Threei}  rambler, look dcc pls
[13:02] {Threei} Long Setup:  FCX  .40 break
[13:02] {dino} ctct l ave .71
[13:03] {Threei}  stop under .30
[13:03] {Threei}  target about .55
[13:04] {thomcbell} slw 35.88 break
[13:04] {thomcbell} 1/2 lot
06[13:04] * Threei slaps pragmatic around a bit with a large alarm clock
06[13:06] * pragmatic I know I know
[13:07] {Threei}  I know you do... I just wanted to slap someone...
[13:07] {Threei}  and I can't slap nemo today
[13:07] {Threei}  he outtrades me about 4:1 today, si better sit down and shut up
[13:08] {pragmatic} cool
06[13:09] * Threei kicks FCX in the rear
[13:10] {pragmatic} keep kicking
[13:10] {Threei}  sheesh... like pulling a tooth
[13:11] {Threei}  gotta get every cent with plyers out of it
[13:15] {pragmatic} now it looks like .35 short
[13:15] {Threei}  very much depends on SPY
[13:16] {Threei}  and SPY is destined to bounce here, IMO
[13:16] {Threei}  this Fitch "news" begs to be faded
[13:17] {rambler} it's go time.....
[13:17] {Threei}  it so is
[13:17] {Threei}  rofl:
[13:17] {Threei}  http://www.youtube.com/watch?v=JK3wMFiSq8U&feature=share
[13:20] {Threei}  what a struggle
[13:20] {Threei}  I need pragmatic's alarm clock... I should have overslept today
[13:20] {Threei}  right into Monday
[13:21] {pragmatic} can't give it back. You know, collecting...
[13:21] {pragmatic} I have two already
[13:21] {Threei}  ok FCX, stop this nonsense
[13:21] {Threei}  go already
[13:22] {Threei}  let's trail stop to .34, I think
[13:22] {Threei}  it takes way too long, gotta tighten risk
[13:23] {thomcbell} bvsn wow
[13:23] {thomcbell} nice 30 minutes
[13:23] {Threei}  look at its daily
[13:23] {Threei}  of course FCX
[13:23] {Threei}  whatever
[13:27] {thomcbell} SLW invalidated without trigger
[13:27] {thomcbell} about 10 minutes ago
[13:27] {thomcbell} sorry for late entry
[13:34] {thomcbell} ua just set up long again
[13:34] {thomcbell} not playing but nice patterns
[13:34] {thomcbell} 10 min and 1 minute
[13:34] {dino} out ctct .86, +.15
[13:36] {dino} evep vsm l .18 ave
[13:38] {rambler} missed EVEP...
[13:38] {rambler} offer at .20 and boom...
[13:40] {dino} gappy trader
[13:47] {Threei}  nice spot UA
[14:02] {rambler} .
[14:06] {Threei}  really want to find something easy and working
[14:07] {Threei}  grr
[14:07] {Threei}  thought of LVS .40 break
[14:07] {dino} fcx stop
[14:08] {Threei}  then decided, this is exactly the pattern which failed time and again today
[14:08] {Threei}  what do you know, this one worked like charm
[14:15] {dino} sina
[14:17] {Threei} Short Setup: MET  .20 break
[14:17] {dino} \teva drop
[14:18] {Threei}  if stays under .25
[14:24] {Threei}  invalidated
[14:27] {dino} cavm drop
[14:32] {thomcbell} ua beast
[14:43] {Threei} Long Setup:  GS  .20 break
[14:43] {Threei}  half lot
[14:45] {dino} cavm l .00
[14:47] {Threei}  stop under .10
[14:50] {rambler} Dino, you still in EVEP?
[14:50] {dino} nvo drop
[14:50] {Threei}  Facebook said to be exploring filing for an IPO on Feb 1; valuation estimated at $75-100B - financial press
[14:53] {Threei}  Jan 27 2102 - day I officially mark in my calendar as the day when I couldn't trade my way out of wet paper bag
[14:53] {Threei}  or type a year correctly
[14:54] {dino} out cavm ave .13, +.13
[14:55] {Threei}  now, how do I make it nemo's fault...
[14:55] {nemo} hehehehehe
[14:56] {Threei}  seriously, what was working today, 3 out of 10?
[14:56] {Threei}  and the worst thing is, out of those 7 not working, 6 were rinses
[14:56] {Threei}  care to look at GS?
[14:57] {dino} nvo vsm l.97
[14:57] {Threei}  know that feeling that market has a camera over your shoulder, to spot your tnry, shake you out, then go? That's what I feel today :)
[15:00] {Threei}  Greek PM Papademos tells Reuters he is optimistic debt swap agreement will be reached within days
[15:00] {dino} same here 3/8 w/2 open
[15:00] {Threei}  of course he saif the same for about 15 times over last 6 months
[15:00] {nemo} 8 for 8
[15:01] {dino} wtg
[15:01] {Threei}  dono... nemo has our lunch otday
[15:01] {Threei}  and dinner
[15:01] {Threei}  and supper
[15:01] {nemo} yeah well kicking myself for bidu
[15:01] {nemo} caught the lunch time bounce and only took a buck
[15:02] {nemo} off of vwap
[15:02] {Threei}  ok, now we officially hate you
[15:02] {Threei}  (I know I am making your weekend)
[15:03] {nemo}  lousy day to have to take a nap
[15:03] {nemo} interesting how spy basically languished and IWM near the highs
[15:06] {Threei}  looking at intraday SPY, I can see clearly why it wasn't my day: narrow range, no trend, low volume (about half of normal)
[15:07] {Threei}  NYSE volume 405M shares, about 9% below its three-month average
[15:10] {Threei}  last trade of the day:
[15:10] {Threei} Short Setup: GS  .20 break
[15:10] {Threei}  if stays under .35
[15:11] {Threei}  target 110.85
[15:12] {Threei}  if works - it won't fix the day but will give some moral satisfaction before the weekend
[15:12] {Threei}  if not - no point in pushing anything anymore
[15:13] {Threei}  shrug
[15:13] {Threei}  GSVC, dino
[15:13] {Threei}  GSVC Hearing financial blog making cautious comments, noting relatively small Facebook stake held by GSVC
[15:13] {Threei}  maybe your client
[15:15] {nemo} spy likely going to 132.21 pivot
[15:17] {dino} ty
[15:18] {dino} gsvc none avail'
[15:19] {dino} i froze nvo
[15:21] {rambler} LOL...
[15:21] {rambler} caps lock....no wonder I  couldn't get into my email acct...
[15:22] {Threei}  lol ramblet - it really is one of those days eh
[15:22] {rambler} no doubt...
[15:22] {Threei}  gremlins in dino's office
[15:22] {Threei}  caps lock for you
[15:23] {Threei}  disgusting taste of plastic as I chew through my keyboard...
[15:23] {rambler} how is that going......?
[15:24] {Threei}  started on the left edge, nearing the colimn of E,D, C now
[15:24] {nemo} COME ON!  Eat the "Space" bar!!!!!
[15:24] {Threei}  it's next
[15:25] {Threei}  if I move past the U J M, you know space bar is no more
[15:25] {dino} out nvo .80, =.17
[15:25] {Threei}  I may have to leave the numeric pad for tonorrow
[15:25] {rambler} dessert tonight....
[15:30] {dino} cha spike
[15:31] {dino} evep to .60
[15:32] {dino} out evep .61, +.43
[15:32] {Threei}  wtg
[15:33] {rambler} nice Dino....got some of that as well...tks
[15:33] {dino} gj
[15:33] {dino} cavm lod
[15:37] {dino} nvo sm l .99 last try
[15:38] {dino} ugh missed cavm
[15:40] {Threei}  OK guys, I want to leave this day behind anf forget about it till Monday
[15:41] {Threei}  have a great weekend, see you Monday, rested, relaxed and ready to resume a winning streak
[15:42] {rambler} sounds good, have a great weekend all.....
[15:42] {dino} cya vad

Jan 26 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

 What is it about falling markets that makes them so easy to trade... We manage to churn out profit on upward days but many of them feel like real work. Today, it's just like walk in the park, sometimes picking up money from the curbside.


Session Time: Thu Jan 26 00:00:00 2012
[08:31] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 377K V 370KE; CONTINUING CLAIMS: 3.554M V 3.50ME
[09:02] {dino} gm
[09:02] {Threei}  morning dino
[09:02] {dino} got lucky afterhours nuva short, cov at 15.72, +.53
[09:02] {Threei}  whew
[09:02] {Threei}  don't you hate these halts
[09:11] {stewy} gd morning everyone
[09:11] {Threei}  stewy :)
[09:13] {stewy} nice photo profile, Vad
[09:13] {Threei}  thank you
[09:14] {Threei}  I feel like a frog about to burst of pride
[09:15] {stewy} still have the smena-6?
[09:15] {Threei}  do frogs explode when they are excessively proud?
[09:15] {Threei}  no... lol
[09:15] {JK13} good morning all
[09:15] {Threei}  jk :)
[09:17] {Beau} good morning you all
[09:17] {Threei}  beau :)
[09:18] {rambler} morning...
[09:18] {Threei}  rambler :):)
[09:18] {Threei}  hmm... one smile too many
[09:18] {rambler} hey..a double..
[09:19] {Threei}  hehe
[09:19] {rambler} going to be a good day...
[09:19] {Threei}  oh, I know... I am subconciously compensating for that "..." of yours
[09:20] {Threei}  it always looks like you are unsure of what you are saying... so I want to reassure you: yes, it IS morning :)
[09:20] {rambler} lol
[09:23] {ese} gm
[09:23] {Threei}  ese :)
[09:26] {ese} wow.....the double smile.....thats ...thats like the sighting of a rare rain forest bug species.....
[09:27] {Threei}  lol
[09:27] {Threei}  ok, for those who missed it yesterday, last time before I stop buging you with that:
[09:27] {Threei}  http://www.sevenbyfive.net/photos/photo-profile-vadym-graifer/
[09:27] {ese} still L HDY .40
[09:28] {Threei}  biggest question before us is, is this rally sustainable or is it a flash in the pan
[09:28] {ese} I have that picture on my laptop......it's awesome
[09:28] {Threei}  :)
[09:28] {Threei}  I tend to think latter,
[09:29] {dino} sustainable until it isn't
[09:29] {Threei}  yeah :)
[09:29] {rambler} ditto...
[09:29] {Threei}  I mean before yesterday it was "exceptionally low rates to 2013"
[09:29] {Threei}  now it's the same but to 2014
[09:29] {Threei}  so what?
[09:29] {Threei}  how does it change anything today?
[09:30] {ese} agreed....the market goes up except when it doesn't......and goes down except when it doesn't....
[09:30] {Threei}  FCX
[09:30] {Threei}  what the deuce
[09:30] {dino} really doesn't matter
[09:31] {dino} and remember, anything can happen
[09:31] {Threei} Short Setup: FCX  .7 break
[09:31] {Threei}  sheesh
[09:31] {Threei}  no chance
[09:31] {Threei}  waitin for restest of the high
[09:31] {Threei}  ok
[09:31] {Threei}  same sxetup
[09:32] {Threei}  half lot of course
[09:32] {Threei}  stop .85
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2, out and need new diaper
[09:33] {stewy} nice catch
[09:33] {Threei}  very hard to execute though
[09:34] {stewy} uh, yeah
[09:34] {dino} missed
[09:34] {Threei} Short Setup: RIMM  .35 break
[09:35] {Threei}  stop above .45
[09:35] {Threei} Short Setup: FCX  .40 break
[09:35] {rambler} can't short..
[09:36] {Threei}  invalidated
[09:36] {Threei}  1:1
[09:37] {Threei}  keep TZA on radar
[09:37] {Threei}  pullback to about .80 should be interesting
[09:37] {stewy} rimm sweet 1:2 out
[09:38] {Threei}  1:2
[09:38] {ese} out HDY .58 +.18 that made my day
[09:38] {Threei}  easy trade, no single uptick
[09:40] {Threei}  cr*p... no setup on FCX
[09:40] {dino} .50 resis, imo
[09:42] {dino} guess not
[09:43] {Threei}  abnormal volatility, even for this one
[09:45] {dino} wpi spike
[09:46] {Threei}  oh boy
[09:46] {Threei}  FCX Ticking higher on reports that workers have begun loading ships at Indonesian port, suggests Grasberg mine may have resumed production - financial press
[09:46] {Threei}  that's all??
[09:47] {dino} low rates for 2 years, hard commodity spike
[09:47] {Threei}  give us one more spike please for short entry...
[09:47] {dino} wpi sm s .49
[09:47] {dino} cov .90, +.60
[09:47] {Threei}  wtg
[09:48] {dino} ty, .59
[09:48] {Threei}  oh, .59??
[09:48] {Threei}  not so good job then...
[09:49] {dino} lol
[09:49] {Threei}  :)
[09:50] {Threei}  MNTA Weakness attributed to press report that Amphastar wins appeal in Lovenox case (related WPI )
[09:50] {dino} ty
[09:50] {Threei}  FCX, can't believe this one got away
[09:51] {dino} rnwk
[09:52] {Threei} Long Setup:  TZA  .80 break
[09:53] {Threei}  if stays above .75
[09:54] {ese} you thinkin short rnwk dino
[09:55] {dino} mnta drop
[09:55] {ese} did it ever
[09:55] {dino} yes ese
[09:56] {Threei}  no go TZA
[09:58] {Threei} Short Setup: LVS  .55 break
[09:58] {Threei}  if stays under .65
[09:59] {Threei}  bad numbers
[10:00] {dino} rnwk sm s .80
[10:00] {Threei}  Dec home sales 307 vs 321E
[10:00] {Threei}  leading ind .4% vs .7E
[10:01] {dino} mkts feels kike pop and now drop coming
[10:01] {Threei}  dropping nicely
[10:01] {Threei}  trail LVS to .61
[10:02] {Threei}  1:1
[10:03] {Threei}  TZA rinsed us
[10:03] {Threei}  6 cents stop is not a big deal but feels somewhat offensive, lol
[10:04] {Threei}  if dives to about .75, should give us another entry
[10:05] {stewy} lvs scalped thx
[10:05] {Threei}  :)
[10:05] {dino} hum sm l .50
[10:09] {dino} mjn
[10:10] {Threei}  PRI
[10:10] {Threei}  .30 break short
[10:10] {Threei}  nice setup, questionable volume
[10:11] {Threei}  half lot if you are tempted
[10:11] {Threei}  sayeth the serpent
[10:11] {Threei}  stop above .45
[10:12] {dino} vsm s mjn .80hum stop -.33
[10:13] {dino} mjn stop
[10:13] {dino} taking break
[10:15] {Threei} Short Setup: SLV  .70 break
[10:15] {Threei}  if stays under .75
[10:17] {dino} hum rinsed, things are whippy
[10:19] {dino} ioc drop
[10:19] {Threei}  target 1:3
[10:20] {Threei}  first cover at about .62 - .63 and second - .56 - .57
[10:22] {Threei}  out first portion
[10:22] {Threei}  stop to .71
[10:23] {rambler} out...tks V
[10:23] {Threei}  out sevcond half
[10:23] {dino} mjn giant rinse
[10:23] {Threei}  double lot thanks to a tight stop too
[10:23] {Threei}  ese kind of play
[10:23] {stewy} ty
[10:23] {Threei}  welcome guys
[10:24] {Threei}  PRI, stop to .41 who went for it
[10:24] {stewy} in it
[10:26] {ese} which one vad?
[10:27] {Threei}  SLV
[10:27] {ese} pri
[10:27] {ese} slv
[10:27] {Threei}  small stop, big shares
[10:27] {ese} yes indeed
[10:28] {ese} as per the scalping video
[10:30] {Threei}  nugget of wisdom from Davos: "Strong economy is needed for the world to prosper"
[10:30] {Threei}  no really?
[10:31] {Threei}  you folks need to gather to surmise that?
[10:31] {Threei}  (GR) EU"s Juncker: Greece must aggressively continue its reforms and cannot give into fatigue;
[10:32] {Threei}  {Greece} leave me alone already, will ya?
[10:32] {JohnH} did you read this, funny: http://www.thereformedbroker.com/2012/01/25/greetings-from-davos/
[10:32] {Threei}  klooking, but I am sure it's hilarious
[10:32] {Threei}  he has great sense of humor
[10:34] {Threei}  TZA, this is just insulting
[10:34] {Threei}  SPY turned red
[10:34] {ese} mrkt dropping
[10:34] {dino} ndx next
[10:35] {dino} stocks are pulp(y) today
[10:37] {dino} mjn spikes again
[10:37] {dino} mkts feels kike pop and now drop coming
[10:38] {JohnH} 10am seems to be the moment the pros reverse the market on the amateurs?
[10:38] {Threei}  more or less...
[10:39] {Threei}  I would rather put it this way:
[10:39] {Threei}  it takes about 30 min to fill most of overnight orders placed by "come from work, read the paper, place an order" warriors,
[10:40] {Threei}  then reality returns
[10:40] {JohnH} right
[10:40] {Threei}  but real time developments influence what pros do
[10:41] {Threei}  so it's not always "reverse on amateurs",
[10:41] {Threei}  sometimes they guess right :)
[10:41] {JohnH} last few days,first half hour has been weak,then moves up
[10:41] {JohnH} today, the opposite
[10:42] {dino} problem is with that, amateurs are almost nonexistant lately
[10:43] {JohnH} in terms of volume?
[10:43] {dino} yes, look schw results, trading down about 60%
[10:43] {dino} they have been blown up so much in last few years, they are gone.
[10:44] {dino} majority of trades are hft
[10:45] {JohnH} so if HFT volume rises significantly, amateur volume shrinks relative to HFT even if flat
[10:46] {dino} yes
[10:46] {Threei} Long Setup:  TNA  55 break
[10:47] {Threei}  if stays above .90
[10:47] {Threei}  no go
[10:48] {Threei}  nmore weakness, no bounce at all
[10:51] {dino} dji wants open gap
[10:52] {dino} pii sm s .29, stop hod
[10:54] {dino} hum drop
[10:58] {dino} cov pii .00, +.29
[10:58] {dino} too soon
[10:59] {rambler} beauty dino...
[10:59] {Threei}  wtg
[10:59] {dino} ty
[10:59] {dino} hum and hes getting interesting
[10:59] {rambler} wish I could figure out how you do that....
[11:00] {dino} ua blood
[11:00] {dino} i'd have to kill you if you did, :D
[11:01] {rambler} must be that 10,000 hours of practice thing....
[11:01] {dino} but seriously, just size down, it makes all the difference
[11:02] {dino} and yes, rambler, about 6 years of "harvard" cost education
[11:02] {rambler} lol
[11:02] {rambler} school of hard knocks....
[11:03] {dino} indeed
[11:04] {dino} rnwk not moving bstop to .82
[11:05] {dino} rambler, dcc for second
[11:07] {dino} hum db or collapse?
[11:07] {Threei}  feels like latter
[11:07] {dino} yeah, showing 85.15 next supp
[11:10] {dino} utek spike
[11:11] {dino} missed it
[11:13] {ese} L exel .22
[11:17] {Threei}  PRI is tormentingly ( is this a word?) slow, but moves in the right direction
[11:17] {stewy} ya molasses...
[11:17] {JohnH} torture is seeing TNA rinse
[11:18] {ese} excrutiatingly painfull.......
[11:19] {JohnH} I would like to see Vad try and type the word "excrutiatingly"
[11:19] {Threei}  easy: eksrushiatinqley
[11:19] {Threei}  there
[11:20] {JohnH} how'd you get a 'q' in there?
[11:20] {ese} lol
[11:20] {Threei}  simple: I have it on my keyboard, so I look for a chance to use it
[11:20] {JohnH} his left pinky has a mind of its own
[11:20] {ese} ya....i think thats whats gonna happen to me with excel
[11:21] {ese} exel
[11:23] {Threei}  ok, this is just plain wrong:
[11:23] {Threei}  Greek suicide rate now the highest in Europe
[11:23] {Threei}  it should be frikin Brussels, not Greece!
[11:23] {ese} go figure eh?
[11:23] {Threei}  THE SUICIDE rate in Greece has reached a pan-European record high, with experts attributing the rise to the country�s economic crisis. Painful austerity measures and a seemingly endless economic drama is exacting a deadly toll on the nation. Statistics released by the Greek ministry of health show a 40 per cent rise in those taking their own lives between January and May this year compared to the same period in 2010.
[11:24] {ese} hell...do these people don't know what it's like to put up with Stephen Harper
[11:24] {thomcbell} gdx trading wellnow
[11:24] {thomcbell} fcx 47.16 long Vad?
[11:25] {thomcbell} stop at 47.06 too much
[11:25] {Threei}  looks right to me
[11:25] {thomcbell} too little
[11:25] {thomcbell} im going half lot with 46.98 stop
[11:26] {dino} hum vsm l .00 break, pulp
[11:26] {ese} it's nuts here.......the last time i requested a military helicopter to pick me up and take me to a gig.....for crying out loud I got turned down.....sheesh
[11:27] {ese} yet Peter Mckay the minister for the military gets one all the flippin time
[11:27] {ese} whats that all about
[11:27] {ese} eh?
[11:27] {dino} utek spikes again'
[11:27] {Threei}  let this be our biggest problem ese
[11:28] {rambler} perks of the job...
[11:28] {ese} ya your right
[11:28] {Threei}  better imagine what this crisis would have been like if we had Stephan Dion at the helm when it hit
[11:28] {ese} i'll request just the limo next time
[11:28] {Threei}  poor chap wouldn't even know what hit him
[11:29] {ese} lol
[11:29] {ese} ain't that the truth
[11:29] {rambler} compared to jean creatins minions....minor
[11:29] {ese} ahhhhhh spring is in the air and i smell shiskabob already
[11:29] {thomcbell} dino lvs in risne territory
[11:29] {thomcbell} 49.15 pivot
[11:31] {JohnH} FCX requiring patience
[11:32] {thomcbell} beginning to like it more
[11:33] {dino} out hum .63, +.63
[11:33] {thomcbell} so get ready for us all to get stopped out
[11:34] {dino} tough crowd
[11:34] {ese} yup
[11:34] {thomcbell} 1:1 fcx
[11:34] {dino} lol, .63 isn't worth what it used to be
[11:35] {thomcbell} lvs dino thoughts?
[11:35] {thomcbell} too thinck a stock for you i know
[11:36] {dino} no,more vads thing. at this point in day i am capitulations and euphoria
[11:37] {dino} taking 10 minute break
[11:37] {ese} ya.......dinos' either very happy or sad.......
[11:37] {ese} ohhhhhhhh.....you mean stock movement........sorry my mistake
[11:38] {Threei}  lol
[11:38] {thomcbell} fcx 2:1
[11:38] {thomcbell} sold 1/3
[11:38] {Threei}  nice one tbell
[11:38] {Threei}  good setup, spotted it just right
[11:39] {Threei}  that 111 Trades thing works :)
[11:39] {ese} nice T
[11:39] {thomcbell} made another partial at 0.41
[11:39] {ese} good job
[11:39] {ese} whats' the 111 thing
[11:40] {Threei}  http://www.realitytrader.com/111trades.html
[11:40] {thomcbell} have 1/4 fcx remaining with 47.29 stop
[11:41] {ese} hmmmmmm i still have to do that...........
[11:43] {ese} out exel .30 +.08 i'll take my 120 bucks and leave it at that
[11:43] {thomcbell} out fcx
[11:47] {thomcbell} qcom rinsing pretty good here dino
[11:47] {thomcbell} not perfect on lvs but 49.30 long entry
[11:49] {dino} .
[11:52] {thomcbell} wow fcx a beast now
[11:52] {dino} rnwk rinsed
[12:01] {dino} dropping
[12:01] {dino} 07 red
[12:03] {thomcbell} qcom rinsed near support
[12:09] {thomcbell} looking for double bottom entry on qcom
[12:09] {thomcbell} wld like a test but
[12:15] {dino} egn drop
[12:23] {dino} hes may be turning
[12:30] {dino} hes sm l .33 stop .19
[12:39] {thomcbell} watching lvs closely here
[12:42] {Threei}  bounce or breakdown?
[12:42] {dino} bounce
[12:42] {thomcbell} bounce
[12:43] {JK13} breakdown
[12:46] {Threei}  breakdonw
[12:46] {Threei}  we have a tie
[12:46] {dino} hes stop -.11
[12:48] {Threei}  (EU) Eurogroup's Juncker: Concept that the ECB may take losses on Greek holdings is not 'absurd'
[12:48] {Threei}  now, this is something we can finally agree on... absurd would be if they didn't
[12:50] {Threei}  CA) Canada PM Harper: Would like to complete free trade pact with the EU this year; to make efforts to reduce delays in energy projects in Canada - Davos Summit
[12:50] {Threei}  - Aiming to slow growth of Govt employee pensions as demographics are threatening social programs and services.
[12:51] {Threei}  hmmm... is he in hurry to complete the pact with EU this year simply because next year there may not be EU to complete a pact with?
[12:51] {dino} stmp spike
[12:51] {Threei}  JK, we lose
[12:51] {Threei}  dino and tbell win
[12:53] {JK13} too fast to high
[12:53] {JK13} too
[12:53] {dino} stmp sm s .71
[13:00] {dino} cov stmp .31, +.40
[13:00] {rambler} got that one....tks D
[13:01] {dino} wtg rammmmbler
[13:01] {Threei}  nice
[13:01] {dino} r2 is 31.24 vwap 30.84
[13:02] {dino} you should use the freestockcharts.com site for resis/supp/vwap. it helps if you are a chart trader
[13:02] {Threei}  and read nemo's little tutorial on pivot levels
[13:03] {dino} put stmp on it, it really shows you whats up
[13:03] {rambler} you bet...got that one....
[13:04] {thomcbell} oh Vad
[13:04] {thomcbell} this is all i wanted 2:1
[13:05] {Threei}  LVS?
[13:06] {thomcbell} si
[13:06] {thomcbell} setup was not clean
[13:06] {Threei}  yeah, told JK you guys win this one
[13:06] {thomcbell} but decent double bottom down there
[13:06] {Threei}  true
[13:06] {Threei}  it's an example of two-sided setup
[13:07] {dino} tru dat
[13:07] {Threei}  whichever side triggers first
[13:11] {thomcbell} really nice cup and handle on the 10 minute gdx
[13:14] {stewy} vad, pri still valid here?
[13:14] {ese} catch you all tomorrow
[13:15] {rambler} cya ese....
[13:15] {Threei}  nah
[13:15] {Threei}  take care ese
[13:15] {Threei}  PRI lost shape
[13:15] {stewy} ok
[13:15] {dino} cya ese
[13:15] {Threei}  scrap that lazy slob
[13:15] {stewy} bye ese
[13:16] {thomcbell} fcx very stingy today - no valid setups
[13:17] {dino} wow things have slowed down compared to this morning
[13:17] {Threei}  overall though, no slightest reason to complain today
[13:17] {dino} mur spike
[13:17] {Threei}  things worked nicely
[13:18] {dino} 3 bucks
[13:18] {Threei}  except that insult by TNA
[13:18] {dino} no complaints
[13:18] {Threei}  MUR has conference call going
[13:19] {Threei}  no, but TNA should know, we have it in for it
[13:19] {Threei}  just waiting for this dish to go cold, to get our revenge
[13:19] {dino} bummer, not avail mur
[13:20] {stewy} mjn wants to break?
[13:20] {dino} wow gave almost 3 bucks back
[13:24] {Threei}  U.S. Rep. Barney Frank to get married
[13:25] {Threei}  finally someone will make him an honest woman
[13:26] {rambler} can't even thik about that one...
[13:26] {dino} yuk
[13:27] {JK13} freddie Mac perhaps is the lucky one:)
[13:27] {Threei}  lokl
[13:28] {Threei}  my eyes...
[13:28] {Threei}  http://news.bostonherald.com/news/regional/view.bg?articleid=1398969
[13:28] {Threei}  retina-burning photo, click on 2 under the image in the right
[13:30] {Threei}  it all must be nemo's fault
[13:34] {Threei} Short Setup: FCX  47 break
[13:35] {Threei}  standard stop, above .10
[13:36] {Threei}  1:1
[13:36] {Threei}  nice and easy
[13:37] {rambler} got it fine....tks V
[13:37] {Threei}  :)
[13:37] {JK13} thx Vad
[13:37] {Threei}  welcome
[13:38] {Threei}  this is total "money on the pavement" case... just pick it up while passing by
[13:38] {dino} gj
[13:39] {dino} dji filled open gap
[13:39] {stewy} nice to pick up change ty
[13:40] {JK13} C&H inverse in DJIA
[13:41] {JK13} 5min chart
[13:41] {Threei}  1:2
[13:41] {Threei}  over and out
[13:44] {Threei}  what do you know, PRI at 1:1
[13:44] {Threei}  what is it about falling market that makes it so much easier to trade
[13:46] {Threei}  (EU) EU's Barnier: Discussions on the Volcker rule will occur with US Treasury's Geithner; EC has concerns about its impact
[13:46] {Threei}  -- Barnier comments that there are concerns that the rule could have "extraterritorial consequences"
[13:46] {Threei}  - Reminder: On 1/11 reports circulated that Japan and Canada had warned the US that the Volcker rule could exacerbate a liquidity crunch
[13:46] {Threei}  extraterritorial? I heard Jupiter was very worried
[13:47] {dino} uranus too
[13:48] {Threei}  Pluto did have an opinion but no ione cares since it was downgraded from its planet status
[13:54] {dino} pru drop
[13:55] {dino} sm l .00
[14:09] {dino} out pru .20, +.20, bad entry
[14:11] {rambler} bit of a nail biter and I wasn't in it..!  gj...
[14:11] {dino} thx, my stop was .68, just about triggered
[14:12] {dino} would like to re-load around .75
[14:12] {dino} not going to give me a second chance
[14:13] {rambler} doesn't look like it will...
[14:18] {dino} 07 red
[14:19] {Threei} Long Setup:  TZA  .40 break
[14:19] {Threei}  if stays above .35
[14:19] {Threei}  tight stop doesn't mean I am looking for a scalp only
[14:20] {Threei}  just that if loses .35, I'll look for more aggressive entry
[14:20] {Threei}  aiming for 1:4, maybe more
06[14:21] * Threei kicks TZA in the rear
[14:22] {Threei}  out first portion .47
[14:22] {dino} gj
[14:22] {Threei}  offer 1/4 more around .55
[14:25] {dino} sweet
[14:25] {Threei}  need good new SPY plunge
[14:26] {Threei}  for TZA to finalize total break
[14:26] {Threei}  .50 is the last frontier
[14:27] {Threei}  come on, hold .40
[14:27] {Threei}  don't rinse second half
[14:27] {Threei}  ugh
[14:27] {Threei}  OK, scalpers win
[14:28] {rambler} dang...
[14:34] {dino} ugh pru
[14:36] {dino} gnc drop
[14:38] {dino} ctct drop
[14:44] {dino} why are oils getting killed?
[14:45] {Threei}  general move with market I'd guess
[14:45] {Threei}  dollar up, assets down
[14:45] {Threei}  I don't see anything oil-specific in news
[14:46] {dino} last couple days down 10% on lots of them
[14:46] {dino} w/oil at 100/brl, just seems to be a disconnect
[14:49] {Threei}  I'll write it off as "one of those things"
[15:07] {Threei} Long Setup:  TZA  .50 break
[15:08] {Threei}  if stays above .40
[15:11] {Threei}  invalidated
[15:16] {Threei} Long Setup:  TZA  .40 break
[15:16] {Threei}  if stays above .35
[15:17] {Threei}  don't want to spil beautiful day, so very tight risk plays only
[15:17] {Threei}  spil = spoil
[15:19] {dino} musa spike
[15:19] {dino} too fast
[15:21] {Threei}  same idea as last time... partial out closer to .50 and try to hold half for an ultimate break
[15:21] {Threei}  out half .48
[15:21] {Threei}  stop to .30
[15:22] {Threei}  .39
[15:24] {Threei}  this is our second shot at this break rambler
[15:24] {Threei}  feels like we will get it this time
[15:25] {rambler} I'ma hoping....
[15:26] {rambler} had half at .49   1 penny too high
[15:27] {Threei}  and here we go
[15:28] {Threei}  1/4 more out .55
[15:28] {Threei}  as planned last time around
[15:28] {Threei}  not sure about final target for the last piece yet
[15:29] {Threei}  above .65
[15:30] {dino} gj
[15:30] {Threei}  ty
[15:30] {rambler} out...tks v
[15:30] {Threei}  :)
[15:31] {Threei}  vwry easy smooth day with a lot of profitable plays
[15:33] {Threei}  ok
[15:33] {Threei}  out on a trail
[15:34] {dino} indeed
[15:41] {Threei}  OK guys, no more trades for today
[15:41] {Threei}  thank you all, have a great evening
[15:41] {Threei}  see you tomorrow
[15:42] {JK13} see you
[15:42] {rambler} cya in the a.m......thanks all

Jan 25 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  )

 Nicely profitable day which couple midday stops couldn't spoil.


Session Time: Wed Jan 25 00:00:00 2012
[09:13] {Threei}  time to wake up I am afraid...
[09:16] {Threei}  dino forgot where the door is
[09:17] {JK13} good morning everyone
[09:17] {Threei}  jk :)
[09:19] {Threei}  there you go
[09:19] {dino} knock knock, let me in
[09:19] {Threei}  hehe... [09:16] {Threei} dino forgot where the door is
[09:21] {Threei}  so... blowout AAPL earnings, huge jump - and market is in red?
[09:22] {Threei}  tells us something I guess
[09:28] {dino} rkt?
[09:29] {Threei}  report and guidance
[09:30] {Threei} Short Setup: FCX  .60 break
[09:31] {Threei}  half lot
[09:31] {Threei}  if stays under .70
[09:32] {Threei} Short Setup: LVS  .85 break
[09:32] {Threei}  if stays under .95
[09:32] {Threei}  invalidated
[09:32] {ese} gm
[09:32] {Threei}  ese :)
[09:33] {Threei}  FCX, trail to .66
[09:34] {Threei}  to .61
[09:34] {Threei} Long Setup:  LVS  48 break half lot
[09:35] {Threei}  stop under .90
[09:35] {Threei}  cover FCX
[09:36] {Threei}  no go LVS
[09:36] {Threei}  looked like salmon for a min there
[09:37] {Threei} Short Setup: SLW  .65 break
[09:37] {Threei}  if stays under .75
[09:39] {Threei}  trail to .71
[09:39] {Threei}  target 1:2
[09:39] {Threei}  no way scalpers win this one
[09:40] {Threei}  1:1, half out
[09:40] {Threei}  stop to .66
[09:40] {dino} fcx s ,50
[09:41] {Threei}  1:2, out
[09:42] {Threei}  beauty of aggressive entries... actual setup was .60 break but execution was much easier at interim support
[09:43] {Threei}  friking LVS, rinse
[09:44] {Threei}  housing numbers at 10
[09:45] {dino} stop fcx -.05
[09:46] {Threei}  RIMM...
[09:46] {Threei}  watching for long on pullback
[09:49] {Threei}  support is .15 - .20 area
[09:50] {Threei}  sheesh AAPL
[09:50] {Threei}  widowmaker
[09:51] {Threei}  need another leg down from RIMM to get interested
[09:52] {dino} ksu sm l .75
[09:54] {Threei}  sitting out housing numbers before looking for the next setup
[09:58] {Threei}  keeping SLW on radar for possible short
[10:00] {Threei}  home sales - 3.5% vs -1 E
[10:00] {Threei}  price index 1% vs 0E
[10:01] {Threei} Short Setup: SLW  .40 break
[10:01] {Threei}  if stays under .50
[10:01] {Threei}  grr, missed RIMM while watching numbers
[10:02] {Threei}  did exactly what I wanted
[10:02] {Threei}  IMF: tells G20 that ECB needs to increase balance sheet to address debt crisis
[10:02] {Threei}  - G20 countries can help the EU expand the bailout fund
[10:05] {dino} mfrm spike3
[10:06] {dino} gpro spike
[10:08] {Threei}  SLW is valid again
[10:08] {Threei}  same condition
[10:10] {Threei}  can't tell scalp or more this time
[10:11] {Threei}  trail to .46
[10:12] {Threei}  want to keep it tight
[10:12] {dino} gpro vsm s .75
[10:12] {Threei}  FOMC day
[10:12] {Threei}  out
[10:12] {dino} ksu to .,80
[10:15] {Threei} Short Setup: LVS  .35 break
[10:16] {Threei}  if stays under .45
[10:17] {dino} gpro stop -.25
[10:19] {dino} life sm s .35
[10:21] {dino} gpro rinse wtf
[10:22] {Threei}  trail to .42
[10:24] {Threei}  1:1
[10:24] {Threei}  covering half, but no firm confidence
[10:25] {Threei}  trail to .36 for the balance
[10:27] {Threei}  if elect taking scalp, I won't hold it against you
[10:30] {Threei}  *(US) DOE CRUDE: +3.56M V +1ME; GASOLINE: -390K V +1.5ME
[10:30] {Threei}  drowning in oil
[10:32] {dino} out ksu .05, +.30
[10:38] {dino} idcc sm l .85
[10:45] {dino} clr
[10:46] {dino} life to b/e
[10:46] {Threei} Long Setup:  X  .10 break
[10:47] {dino} idcc to .69 stuck
[10:50] {Threei}  1:1
[10:53] {Threei}  (EU) Officials in the EU calling for EMU to increase the cap on the bailout mechanisms ESM/EFSF - financial press
[10:53] {Threei}  - Notes that G20 countries should match �200B commitment from the Europe to the IMF
[10:53] {Threei}  bunch of idiots
[10:53] {Threei}  stuck on z"more bailout funds" note
[10:56] {dino} out x .24, +.14 ty vad
[10:56] {ese} anybody on this board been to Milan Italy?  am looking for a hotel reservation
[10:57] {dino} life cov .25, +.10
[11:00] {Threei}  1:2, out
[11:01] {Threei}  so far, nice day
[11:01] {Threei}  not overly active but things work
[11:02] {dino} idcc to .07
[11:02] {dino} out +.22
[11:03] {Threei}  most annoying words of 2012: "fair share"
[11:06] {dino} wait until you hear "from each according to ability, to each according to need"
[11:07] {Threei}  hmmm... now THAT wiuld be "back to the future " for me, lol
[11:10] {JohnH}  question: when trade reaches 1:1 but doesn't trade there...
[11:10] {JohnH} do you then put in a limit order at 1:1?
[11:10] {Threei}  if it's something like 1 cent, and a stock looks like it's about to reverse, I just hit the bid
[11:11] {JohnH} got it, so its a decision that must be made at that moment
[11:11] {Threei}  it's not an exact science, can't count on things being precise to 1 cent
[11:11] {Threei}  right
[11:11] {Threei}  sometimes they overshoot a bit, sometimes stall right under the lione
[11:11] {JohnH} LVS @ 10:15 touched 1:1, but then retreated
[11:12] {JohnH} I didn't get out at 1:1 and then watched my profit fade away, until break even.
[11:12] {Threei}  no point in letting a trade that practically reached 1:12 to turn into a loss
[11:12] {Threei}  at the very least stop trailing is warranted
[11:13] {JohnH} right, I get THAT
[11:13] {JohnH} I get out at break even, then cry in my milk
[11:18] {Threei}  watching X again
[11:18] {Threei}  chart was shaping up for .40 break but dive undr .30 puts that on hold for now
[11:19] {dino} gpro spikes again
[11:20] {dino} invn drop
[11:22] {Threei} Long Setup:  X  .40 break
[11:22] {Threei}  half lot
[11:23] {Threei}  Germany cuts solar incentives Apr 1
[11:23] {Threei}  look FSLR
[11:25] {JohnH} is that GN genuine news? clearly if it goes UP, then must be FSN?
[11:25] {Threei}  I am pretty sure it's FSN
[11:26] {JohnH} right, its politics, so some knew it was coming.
[11:26] {Threei}  look at FSLR daily chart,
[11:26] {Threei}  down from over 100 to 30
[11:27] {Threei}  and I've seen discussions of this cut here and there for a month at least
[11:27] {dino} pii sm s .20
[11:27] {JohnH} down from 175
[11:28] {JohnH} March '11
[11:28] {Threei}  yeah
[11:28] {Threei}  so, beaten down hard, bleak news are coming out, stock spikes...
[11:28] {Threei}  classic, isn't it
[11:28] {JohnH} yes
[11:29] {Threei}  proof of concept so to speak
[11:29] {JohnH} ahh, to be the fleecor, rather than the fleecee
[11:29] {JohnH} good to see a Bill C reference
[11:29] {Threei}  short seller at 37.65 rereads the news for the third time by now, trying to understand what just happened
[11:30] {JohnH} heh heh
[11:30] {JohnH} alright X, now do the right thing
[11:31] {Threei}  German Chancellor Merkel: a global financial transaction tax is not likely
[11:31] {Threei}  so, going to shoot yourself in the foot? by all means
[11:32] {Threei}  no go X
[11:32] {Threei}  glad I cut it to half lot
[11:32] {dino} bki drop
[11:33] {JohnH} I won't ever say that again
[11:33] {dino} vsm l .50
[11:50] {dino} pii stop -.38 big slip
[11:51] {Threei}  General Motors Corp CEO: Cannot predict Volt sales this year, but have resolved the issues with the electric car and the Volt is as safe as any traditional combustion engine vehicle - CNBC interview
[11:51] {Threei}  {Crash Dummies} Nope... not getting into that without new perks
[11:52] {rambler} finally.....morning all
[11:53] {Threei}  morning rambler
[11:53] {rambler} inyernet down this morning
[11:53] {rambler} internet
[11:53] {Threei}  wind?
[11:54] {rambler} not sure....tele as well
[11:55] {rambler} how goes the morning....?
[11:55] {Threei}  nice today
[11:55] {rambler} good to hear.....
[11:55] {Threei}  not exceptional but steady
[12:04] {dino} rkt sm l .75
[12:06] {dino} tea spike
[12:07] {andj} Good morning Threei
[12:14] {Threei}  andj :)
[12:14] {Threei}  FOMC vhanged the schedule
[12:14] {Threei}  rate decision is at 12:30
[12:15] {Threei}  economic forecats at 14:00
[12:15] {Threei}  Ben's conf call 14:15
[12:15] {dino} gpro keeps going
[12:15] {Threei}  The biggest unknown today is how the policy statement will handle the introduction of the new rate path forecasts, introduced to further the goal of increased Fed transparency. The current policy statement language says that conditions will "likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013." This language in the 12:30ET statement may be altered to better match the new rate forecasts, or it may stay unaltered to signify the earliest possible timeframe for rate tightening.
[12:23] {Threei}  - Given the significance of the introduction of this rate path forecast, it is unlikely that the Fed will make any additional policy changes today (i.e. QE3).
[12:23] {Threei}  - At his press conference at 14:15ET, Bernanke will likely spend the bulk of his time discussing and interpreting the new rate path forecasts and how it is increasing Fed transparency.
[12:23] {Threei}  so, as much as latest FOMC days became non-event, today's will be doubly so
[12:25] {Threei} Short Setup: FCX  .90 break
[12:25] {Threei}  half lot
[12:26] {Threei}  if stays under 44
[12:27] {Threei}  no change to rate
[12:27] {dino} spike
[12:27] {Threei}  stays at .25% as expected
[12:28] {Threei}  Exceptionally low rates through at least 2014
[12:29] {andj} Is fcx because the last resistance was at 44?
[12:29] {Threei}  - Voting against the action was Jeffrey M. Lacker, who preferred to omit the description of the time period over which economic conditions are likely to warrant exceptionally low levels of the federal funds rate.
[12:29] {Threei}  it was a topping out bounce
[12:29] {Threei}  market spike ruined the setup
[12:30] {Threei}  but new one may be forming
[12:30] {Threei}  ugh, too fast
[12:31] {Threei}  44 break was the trigger but occured faster than I could type an alert
[12:32] {Threei}  ok, double top
[12:32] {Threei}  if stays under .10
[12:32] {Threei} Short Setup: FCX  44 break
[12:32] {Threei}  half lot
[12:33] {Threei}  invalidated
[12:33] {dino} gut says up
[12:34] {Threei}  mine is silent like a drunken sailor in the morning
[12:36] {dino} pall spike
[12:37] {dino} bki to .40
[12:38] {dino} rkt to b/e
[12:39] {dino} out bki .41 +.91
[12:39] {Threei}  wtg
[12:39] {dino} ty
[12:39] {dino} rkt to .85 stingy
[12:50] {dino} .
[12:50] {Threei} Short Setup: FCX  .25 break
[12:50] {Threei}  half lot of course
[12:50] {Threei}  if stays under .40
[12:52] {Threei}  no go
[12:56] {thomcbell} wow slw
[13:00] {dino} rkt sm l .49
[13:02] {Threei}  market spikes with no setups
[13:03] {ese} not away......justing trying to book a hotel for 2 nights in Milan
[13:03] {Threei}  STT sells down hard
[13:05] {dino} odd
[13:06] {dino} out rkt .83, +.34
[13:07] {ese} it's about time HDY came around...still into it from yesterday at .40
[13:07] {rambler} wtg Dino....
[13:07] {dino} ty
[13:09] {ese} we need to think of another superlative for dino.......something like " holy fr...kin doodle...once again he!!!!!!!"
[13:09] {ese} nah.....too long
[13:09] {ese} ummmmmmmm
[13:09] {Threei}  lol
[13:09] {ese} eeeeeeeeyeowwwwwwzaaaaaa!!!!
[13:09] {ese} nah.........still too long
[13:10] {Threei} Long Setup:  STT  .60 break
[13:10] {Threei}  if stays above .50
[13:10] {ese} ya ok WTFG........wtfg...small caps for just ok big caps for amazing
[13:12] {Threei}  target 1:2
[13:12] {Threei}  but if you take a scalp, I'll understand
[13:12] {ese} lol
[13:12] {Threei}  :)
[13:14] {Threei}  new market spike
[13:15] {Threei}  STT is obviously moving against
[13:16] {Threei}  now it's moving with
[13:16] {Threei}  shrug
[13:18] {Threei}  Euro vs US Dollar Extending gains above $1.3090, 1-month high
[13:18] {Threei}  that's what a promise to keep rates at the bottom for 3 more years does
[13:18] {ese} l
[13:19] {Threei}  and of course:
[13:19] {Threei}  Some capital markets groups turn lower following FOMC statement- Returns on interest rate products will remain hard to come by for things like fixed annuities and money markets which appears to be resulting in some selling. Related (MET SCHW TRV HIG AMTD AFL EV LNC FII AB PRU )
[13:19] {Threei}  another hit under the belt for savers
[13:22] {rambler} STT stop..
[13:22] {dino} pii spike
[13:23] {Threei}  seond day in a row, morning is a thing iof beauty and everything after that is quite questionable
[13:27] {Threei} Short Setup: HIG  .30 break
[13:37] {thomcbell} rimm kangaroo vad
[13:38] {Threei}  .30 break would be a short trigger for that one
[13:38] {Threei}  if stays under .40
[13:44] {Threei}  valid as double top now
[13:44] {Threei}  wouldn't say it's the best of setups, but valid
[13:48] {Threei}  1:1
[13:49] {thomcbell} rimm 1:1
[13:49] {Threei}  nice
[13:50] {Threei}  let's trail HIG t .36
[13:50] {dino} wow stt
[13:50] {Threei}  wow it is
[13:59] {thomcbell} trailing stop to 16.26 on rimm
[13:59] {thomcbell} market showing quite a bit here
[14:00] {Threei}  FOMC forecast on wires now
[14:00] {Threei}  to juice things up again :)
[14:00] {dino} sm s life .01
[14:02] {Threei}  stop to .31 HIG
[14:03] {Threei}  no risk position
[14:03] {thomcbell} slw 33.65 short entry
[14:03] {thomcbell} 1/2 lot
[14:04] {thomcbell} rimm 2.5:1
[14:04] {thomcbell} covering balance
[14:04] {Threei}  wtg
[14:04] {Threei}  finally HIG
[14:04] {Threei}  half out
[14:04] {Threei}  took its sweet time, eh
[14:05] {Threei}  scalpers be happy
[14:05] {Threei}  I think it's worth a try for another leg down
[14:07] {Threei}  out in full
[14:07] {Threei}  these two trades cement the day as nicely profitable
[14:08] {thomcbell} using 33.77 stop on slw
[14:19] {dino} met drop
[14:19] {Threei}  MET is same as HIG
[14:19] {Threei}  affected by this FOMC
[14:21] {dino} met sm l .50
[14:31] {Threei}  works nicely
[14:31] {thomcbell} SLW out -0.12
[14:32] {dino} out met .70, +.20
[14:33] {dino} life to .90
[14:36] {dino} make it .85
[14:38] {dino} cov life .76, +.25
[14:41] {Threei}  wtg
[14:41] {Threei}  day shaped up nicely
[14:41] {Threei}  couple stops midday couldn't spoil it
[14:42] {Threei}  let's see if we can find couple finishing scalps
[14:42] {dino} ty
[14:42] {rambler} Vad, did you take a scalp on the STT trade ?
[14:43] {Threei}  no, that one got stopped
[14:43] {rambler} tks
[14:43] {Threei}  RIMM and HIG made up for that, twice over
[14:46] {Threei}  (US) Treasury Sec Geithner: Economy still undergoing damage from the financial crisis; markets alone cannot solve the economy's problems
[14:47] {Threei}  but gethtner can
[14:58] {rambler} FCX s 46.01
[14:58] {dino} nuva spike
[15:00] {rambler} out   .08
[15:01] {dino} nuva sm s break .25
[15:04] {rambler} can't short NUVA...
[15:05] {Threei}  oh god...
[15:05] {rambler} FCX salmon...
[15:05] {dino} cyber has it
[15:05] {Threei}  Davos: Capitalism no longer works
[15:05] {Threei}  imbeciles
[15:05] {dino} look at sell orders
[15:06] {Threei}  halted
[15:07] {Threei}  news pending
[15:07] {dino} they're going to screw me on that
[15:08] {Threei}  depends on news...
[15:15] {dino} medtronics losses bid for injunction
[15:29] {Threei}  ramp up into eod, IMO
[15:45] {Threei}  slow...
[15:45] {Threei}  near impossible to find the play
[15:50] {dino} looks like they make me hold overnight
[15:50] {Threei}  looks this way
[15:51] {Threei}  (EU) ECB now said to be discussing methods in which it could deal with any forced losses on Greece bonds - financial press
[15:51] {Threei}  - Reminder: Earlier today reports indicated that hope was being lost in the EU in reaching a voluntary debt agreement and that the ECB could potentially assume losses on Greece bond positions
[15:56] {Threei}  ok guys, thank you all
[15:56] {Threei}  have a good evening, see you tonorrow
[15:58] {JK13} gn
[15:58] {Threei}  hold on
[15:58] {Threei}  wanted to show you one thing
[15:58] {rambler} cya tomorrow...
[15:58] {Threei}  just published:
[15:58] {Threei}  http://www.sevenbyfive.net/photos/photo-profile-vadym-graifer/

Jan 24 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  )

 Tiresome day - started nicely positively, went to about break-even to slightly negative and climbed back to slightly positive. All in all, felt a bit like work.


Session Time: Tue Jan 24 00:00:00 2012
[09:03] }_mark1} hello
[09:03] }Threei}  good morning mark
[09:03] }_mark1} gm first time here
[09:03] }Threei}  I guess it means time to wake up...
[09:03] }nemo} sheesh...here we go with the pleasantries again....gag
[09:03] }Threei}  welcome
[09:04] }Threei}  yes nemo... there are polite [ep[le around, you know
[09:04] }Threei}  people
[09:04] }nemo} I prefer Woland
[09:04] }Threei}  he was very polite
[09:05] }Threei}  deadly but polite
[09:05] }Threei}  (GR) S&P Chamber's: Greece likely to be Downgraded to selective default during H1 of 2012; move is a matter 'of when not if'
[09:06] }Threei}  (PT) Portugal Fin Mn: Portugal was not discussed at Ecofin
[09:07] }Threei}  Ecofin: what to discuss... we tried to avoid politica, money, sex, religion...
[09:08] }Threei}  Moammar Gadhafi loyalists have seized control of Libyan town, officials and fighters say
[09:09] }Threei}  you know, I think I could easily write headlines from middle east for the next 100 years... I wouldn't get some names right but other than that...
[09:10] }JK13} good morning all
[09:10] }Threei}  jk :)
[09:10] }ese} morning
[09:10] }Threei}  ese :)
[09:10] }ese} jk
[09:10] }ese} vad
[09:11] }JK13} ese:)
[09:11] }Threei}  anyone has a title fpr this, feel free to chime in:
[09:11] }Threei}  http://www.facebook.com/photo.php?fbid=197900756975541&set=a.107450996020518.10603.100002668551123&type=1&theater
[09:12] }cipher} it's a little out of focus
[09:12] }ese} lol
[09:12] }Threei}  lol
[09:13] }JK13} "I see the snow has melted"
[09:13] }ese} talented photographic eye if i've ever seen one
[09:13] }Threei}  hehe
[09:13] }Threei}  post right there
[09:13] }Threei}  Some Chevrolet dealers are turning down Volts that General Motors wants to ship to them, a potential stumbling block as GM looks to accelerate sales of the plug-in hybrid.
[09:13] }Threei}  Read more: http://www.autonews.com/article/20120123/RETAIL07/301239977#ixzz1kNvz9zjl
[09:13] }Threei}  gosh... even dealers don't want their allocation?
[09:17] }rambler} good morning...
[09:17] }Threei}  rambler :)
[09:18] }Threei}  no opening trade candidate yet but it's likely to be a short
[09:18] }_mark1} may i ask a question?
[09:19] }Threei}  sure
[09:19] }ese} rambler
[09:19] }_mark1} im looking at a down day but by how much?
[09:19] }Threei}  it's a very easy one to answer:
[09:19] }Threei}  no one knows, and it's far from given that it will end in red
[09:20] }Threei}  don't try to build your trading on prediction... anyone claiming to know is either a fool or a fraud
[09:20] }rambler} morning ese..
[09:21] }Threei}  you don't need to predict to be able to trade profitably
[09:22] }Threei}  trading is a process of following the standard procedure based on familiar setups, where each given trade may fail but over a statistically valid number of samples they work in your favor
[09:25] }Threei}  if it were not for an opwning volatility, I'd say TZA .65 break long
[09:26] }Threei}  if we get SPY spike at the open, TZA is likely to bottom out around .45 - .50
[09:26] }Threei}  short FCX is snother one in mind
[09:26] }Threei}  half lot but no clear entry point yet
[09:30] }Threei} Short Setup: FCX  .40 break
[09:30] }Threei}  if stays under .50
[09:30] }Threei} Long Setup:  TZA  .65 break
[09:30] }Threei}  if stays above .55
[09:31] }Threei}  FCX 1:1
[09:34] }Threei}  TZA invalidated
[09:34] }Threei}  wow
[09:34] }Threei}  that's volaitlity
[09:34] }nemo} ow
[09:35] }Threei}  1:1, bastid
[09:35] }dino} stop flat
[09:36] }Threei} Short Setup: SLW  .35 break
[09:36] }Threei}  if stays under .45 scalpers, .50 day traders
[09:37] }Threei}  scalpers 1:1
[09:37] }Threei}  daytraders 1:1
[09:40] }Threei}  stop to .26
[09:40] }Threei}  choke it
[09:40] }Threei}  to .21 now
[09:41] }dino} cov fcx +.15 ty vad
[09:41] }thomcbell} ksu on radar long
[09:41] }dino} saw that
[09:41] }nemo} watch tna as/if spy gets nearer 130.40
[09:42] }dino} zion, idcc
[09:42] }Threei}  welcome
[09:42] }Threei}  FCX? or SLW?
[09:43] }Threei}  stop to .16
[09:44] }Threei}  out in full
[09:44] }rambler} beauty Vad...tks
[09:45] }Threei}  welcome kind sir
[09:45] }Threei}  no one called me a beauty for many years
[09:45] }Threei}  oh, you meant a trade...
[09:45] }rambler} you are this morning....
[09:46] }Threei}  wait, I'll get some exygen for my wife, 'cause she is likely to choke laughing when I show her that
[09:46] }Threei}  oxygen
[09:46] }rambler} lol
[09:46] }Threei}  watching TZA for entry on pullback
[09:47] }Threei} Long Setup:  TZA  .75 break
[09:47] }Threei}  if stays above .70
[09:48] }Threei}  valid still
[09:49] }Threei}  not anymore, but on watch for another trigger
[09:51] }Threei}  how much idiocy can you squeeze into single comment?
[09:51] }Threei}  answer:
[09:51] }Threei}  (US) Reminder: IMF to release its updated economic and financial forecasts
[09:51] }Threei}  - On Jan 19th press reports noted that IMF draft World Economic Outlook (WEO) would cut its Global GDP growth outlook to 3.3% from 4.0% prior
[09:51] }Threei}  - IMF's Chief Lagarde did commented that Euro zone growth was slowing sharply, more central bank easing is needed
[09:51] }Threei}  - global economy could slide back towards a "1930s moment"
[09:52] }Threei} Long Setup:  TZA  .70 break
[09:52] }dino} rbn sm l .01
[09:53] }Threei}  if stays above .60
[09:53] }Threei}  if dives under .65, try to get in aggressively on .65 recross
[09:53] }Threei}  if stays above .60 again
[09:55] }dino} wat spike
[09:55] }Threei}  no go
[09:55] }Threei}  first stop
[09:56] }Threei}  let's take a breather and reevaluate
[09:56] }Threei}  looks like SPY prepares for a break of .90
[09:58] }Threei}  *(US) JAN RICHMOND FED MANUFACTURING INDEX: 12 V 6.0E
[09:59] }Threei} Short Setup: FCX  .50 break
[09:59] }Threei}  *IMF WORLD ECONOMIC OUTLOOK (WEO) OFFICIALLY CONFIRMS CUT IN 2012 GLOBAL GDP OUTLOOK TO 3.3% FROM 4.0% PRIOR
[10:00] }Threei}  stop above .60 FCX
[10:00] }Threei}  headlines turn the market on a dime
[10:01] }Threei}  yikes
[10:01] }Threei}  stop
[10:02] }JohnH} I got filled at .62, that hurt
[10:03] }Threei}  hmm?
[10:03] }Threei}  normal stop
[10:03] }Threei}  how did it hurt beyond usual
[10:05] }JohnH} I had a tighter stop as a result of a late/low fill
[10:05] }Threei}  are you using market orders?
[10:05] }JohnH} watching it blow thru, and not trade for a few seconds
[10:05] }JohnH} no, no market orders
[10:06] }Threei}  why low fill then
[10:07] }JohnH} when it triggered I got in at .46
[10:07] }JohnH} so I had a lower stop, I didn't want to risk all the way to .60
[10:08] }Threei}  this is not the right way to structure a trade...
[10:08] }JohnH} ok
[10:08] }Threei}  you are chasing too much - 4 cents for a 10-cents stop placement scews r/r too much,
[10:08] }JohnH} right
[10:09] }Threei}  and placing a stop arbitrarily because of your fill and not where the chart indicates ruins the very idea of trading of chart structure
[10:10] }JohnH} but with slippage and commissions, 1:1 r/r is really .15 risk/.10 reward (assuming scalping)?
[10:10] }Threei} Long Setup:  TNA  .50 break
[10:11] }Threei}  if stays above .40
[10:11] }dino} wow wat
[10:11] }Threei}  invalidated
[10:11] }Threei}  watching for reestablishing
[10:12] }Threei}  valid again
[10:12] }Threei}  sheesh
[10:12] }Threei}  no vhance for entry
[10:13] }Threei}  if pulls back to .50, second chance is valid
[10:14] }Threei}  ok
[10:14] }Threei}  stop under .40
[10:14] }Threei}  1:1
[10:14] }Threei}  target 1:2
[10:14] }Threei}  stop to .48 for the balance
[10:15] }rambler} wow...I missed that one....
[10:15] }Threei}  dove right into .50
[10:15] }Threei}  scalpers win
[10:17] }Threei} Long Setup:  TNA  .50 break half lot
[10:17] }Threei}  if stays above .40
[10:17] }Threei}  deja vu
[10:18] }Threei} Long Setup:  FCX  .70 break
[10:18] }Threei}  if stays above .60
[10:19] }dino} wat vsm s .30
[10:19] }Threei}  volstility id bit too big so cutting TNA to half lot this time
[10:20] }thomcbell} lvs looks like a 47.45 short entry Vad
[10:20] }Threei}  I'd take .50 break
[10:23] }Threei}  TNA 1:1
[10:24] }Threei}  disregard FCX long
[10:24] }pragmatic} target for TNA ?
[10:24] }Threei}  1:2
[10:24] }Threei}  but play by the book
[10:24] }thomcbell} y - i was trying to figure that one out -
[10:24] }Threei}  stop is trailed to .48 for the balance
[10:25] }Threei}  change FCX to short
[10:25] }Threei}  .60 break trigger
[10:25] }Threei}  if stays under .70
[10:25] }thomcbell} lvs invalidated
[10:26] }Threei}  TNA, scalpers win again
[10:26] }Threei}  come on FCX, time to roll over and die
[10:27] }dino} cov wat .70, +.60
[10:28] }dino} too soon
[10:28] }Threei}  wtg
[10:28] }dino} thx
[10:28] }thomcbell} need help with this one VAD - ksu reverse cup and handle possibly developing
[10:29] }dino} meli spike
[10:29] }Threei}  close FCX
[10:29] }Threei}  no read on it here anymore, that long tail is very much a cangaroo one
[10:30] }nemo} vrx
[10:30] }Threei}  no idea on KSU
[10:30] }Threei}  does look like short but volatility is horrific
[10:31] }thomcbell} ok that looks like almost 4:1
[10:31] }thomcbell} lol
[10:31] }dino} ksu hitting vwap
[10:32] }dino} last bounce was 65.25 area
[10:32] }Threei} Long Setup:  X  .15 break
[10:33] }Threei}  stop under .05
[10:33] }dino} mkt wants opening gaps imo
[10:33] }Threei}  1:1
[10:39] }dino} deck drop
[10:41] }dino} eat sm l .51
[10:41] }Threei}  out in full .32
[10:43] }thomcbell} good instincts Vad on FCX
[10:46] }Threei}  wow X
[10:46] }Threei}  had more in it
[10:47] }thomcbell} lvs 47.69 break
[10:47] }thomcbell} target 2:1
[10:48] }thomcbell} good volume coming in last 3 minutes
[10:51] }thomcbell} lvs stop 47.60
[10:56] }thomcbell} closing lvs
[10:56] }thomcbell} -0.05
[10:59] }Threei} Short Setup: FCX  .80 break half lot
[11:00] }dino} wat bounce
[11:02] }ese} L HDY .40
[11:03] }ese} got out of this at .36 yesterday for +.13
[11:03] }ese} feelin like it still wants up
[11:04] }thomcbell} lvs now shows relative strength
[11:04] }ese} and..........I like the look and feel of the daily chart
[11:05] }dino} out eat +.07
[11:06] }thomcbell} daily looks incredible on lvs
[11:06] }ese} were we eatin?
[11:06] }ese} indeed it does tom
[11:06] }thomcbell} like the recent above avg volume
[11:08] }ese} it's breaking up as we speak
[11:09] }thomcbell} yes - i didnt follow the book on my 47.69 entry
[11:10] }Threei}  no go
[11:10] }Threei}  not delighted
[11:10] }Threei}  what's with sudden spikes again
[11:10] }Threei}  no news
[11:11] }Threei}  (IR) EU officials confirm that discussions took place with some nations in Asia on moving forward with similar Iran oil type embargo to the one recently agreed upon in Europe
[11:11] }Threei}  - Hope that India and China at the very least will not increase their Iran oil imports as the EU embargo goes into effect mid-year.
[11:11] }Threei}  yeah, that's going to be effective
[11:13] }dino} out rbn +.20
[11:17] }dino} wat vsm s .37
[11:18] }dino} stop .60 -.23
[11:22] }dino} wat vsm s .50 break
[11:25] }dino} stop
[11:30] }rambler} what's up with water today?
[11:31] }nemo} ?
[11:31] }rambler} WAT...
[11:31] }nemo} ahhh
[11:40] }Threei}  watching FAZ
[11:40] }Threei}  dive closer to .70 should provide long entry
[11:42] }Threei}  FCX rinsed the short
[11:43] }dino} wat vsm s .50
[11:45] }nemo} cat on vwap
[11:47] }Threei}  so far today looks like a day where one should have stopped trading after first 30-40 min
[11:47] }Threei}  but every time I ask about going home, what do I hear?
[11:48] }nemo} ur already home
[11:48] }Threei}  there
[11:48] }nemo} you get to sit there in your boxers and drink vodka....what's the problem?
[11:48] }Threei}  FAZ no pullback
[11:49] }Threei}  if SPY loses .20, FAZ will just break out
[11:50] }Threei}  not sure I want to buy this break
[11:50] }Threei}  most of them run into rinses today
[11:58] }dino} qcor spike
[11:59] }ese} outaa here.....am giving a math exam this morning......anybody wanna take it
[12:00] }dino} cov wat .08, +.42
[12:00] }Threei}  nice
[12:00] }Threei}  take care ese
[12:01] }Threei}  (EU) ECB's Praet: Indications are that the EMU economy is stabilizing; reiterates there is no option for countries to leave the EMU
[12:01] }Threei}  hotel california
[12:04] }dino} qcor vsm s .75
[12:05] }JK13} Vad what do think Fcx long here
[12:05] }Threei}  chart is right
[12:06] }Threei}  follow-through today is questionable
[12:06] }Threei}  not sure
[12:09] }dino} cov qcor .35, +.40
[12:09] }cipher} wtg
[12:11] }dino} ty
[12:11] }dino} things pulp
[12:29] }dino} wow qcor drop
[12:35] }Threei}  QCOR is a mystery
[12:35] }Threei}  11:59 news says "financial blog makes cautious comments"
[12:35] }dino} 3 buck bounce and 2 buck drop. news?
[12:36] }Threei}  see above
[12:36] }Threei}  I've no idea why it went up on that
[12:45] }dino} bvsn wow last few days
[12:46] }cc_8} monster
[12:50] }Threei}  lol BVSN
[12:50] }dino} thing keeps going
[12:50] }Threei}  pulp incorporated
[12:51] }Threei}  $1.40 in one breath
[12:53] }Threei}  another $2 in the next one
[12:53] }dino} i can't borrow it, altho that may be a good thing
[12:53] }Threei}  no kidding
[12:53] }Threei}  good luck managing risk on that one
[12:54] }Threei}  even papertrading it is too risky
[12:54] }dino} have to trade 10 shares
[12:57] }dino} wat rolling over?
[12:58] }Threei}  market spikes again...
[13:04] }Threei} Long Setup:  TZA  .95 break
[13:05] }Threei}  if stays above .85
[13:07] }dino} wat vsm s .11
[13:11] }dino} to .80
[13:12] }dino} cov .74, +.37
[13:12] }dino} wat
[13:12] }cipher} nice
[13:13] }dino} ty
[13:15] }Threei}  TZA target 1:3
[13:15] }dino} rpxc drop
[13:19] }dino} bvsn continues
[13:19] }Threei}  ok TZA... time to launch
[13:23] }nemo} you've got until spy reaces .06
[13:24] }cipher} +.20 rpxc thx dino
[13:27] }Threei}  let's tighten stop to .89
[13:29] }dino} gj cipher
[13:29] }nemo} coh to the whole
[13:37] }dino} afternoons are still slow
[13:37] }Threei}  yeah
[13:38] }Threei}  but there is some underlying change
[13:39] }Beau} still seeing 1:3 vad
[13:39] }Threei}  yes, so far
[13:40] }Threei}  first partial at 1:1
[13:40] }Threei}  and stop to .94
[13:46] }Threei}  noooo... anything but this:
[13:46] }Threei}  Bank of America Corp Planning to inform investment banker employees of cut in compensation nearing 25% - financial press- Reminder: Morgan Stanley recently announced its plans to cut some compensation by 20-30%
[13:46] }Threei}  my eyes are filling up with tears
[13:46] }Threei}  my heart with sadness
[13:47] }Threei}  I see crying children having to go to sleep with no new Porche
[13:48] }Threei}  I may find some consolation iks this though:
[13:48] }Threei}  JPMorgan Chase and Co CEO Dimon: Planning to stay with the company for 3-5 years or more - Fox business interview
[13:51] }Threei}  meanwhile, scalpers win once again
[13:53] }nemo} bvsn
[13:56] }dino} wow
[13:57] }Threei}  lol
[13:57] }Threei}  up on no news, down on no news
[13:57] }Threei}  which would be fine if not the mind-boggling scale of the move
[13:58] }nemo} guy I know shorted it at 43.70
[14:01] }dino} that was somethin, 11 bucks up, 6 down
[14:06] }Threei}  National Poll: #Gingrich 35%, #Romney 28%, #Santorum 16%, #Paul 10%
[14:07] }Threei}  that Ron Paul polls below Santorum is... just sick
[14:14] }Threei}  BVSN had more of that in the store
[14:20] }dino} qcor moves back up
[14:25] }dino} w2lt spike
[14:25] }dino} wlt
[14:32] }dino} uthr drop
[14:36] }dino} vsm l .25
[14:37] }dino} out .65,
[14:37] }dino} .+.40
[14:37] }dino} too soon
[14:37] }dino} bummer
[14:38] }Threei}  watching TNA for pullback entry
[14:38] }dino} thought that was code for porn
[14:39] }Threei}  lol
[14:39] }dino} wow uthr, i chickened out of that a buck early
[14:49] }Threei} Long Setup:  TNA  .60 break
[14:49] }Threei}  if stays above .50
[14:49] }dino} gg drop
[14:56] }Threei}  1:1
[14:58] }Threei}  with this scalp I am at b/e for the day... that begs a question: was it really worth waking up?
[14:58] }Threei}  especially considering grey weather
[14:59] }dino} ango drop
[15:00] }dino} nanoknife sys recall
[15:00] }Threei}  lowers 2012 rev guidance
[15:01] }dino} should go lower
[15:02] }dino} but its not
[15:07] }Threei}  AAPL rwport, SoTU speech, and FOMC started today
[15:07] }Threei}  enough for the market to be hesitant
[15:08] }Threei}  wow ANGO
[15:08] }Threei}  full recovery
[15:11] }JK13} tna
[15:12] }Threei}  what can I say... after almost every trade ended in scalp, how do you stay with this one
[15:12] }JK13} what is with the spike
[15:12] }Threei}  no news
[15:13] }JK13} it looks like dow is finishing the day above 12380 and Spy above 131.50
[15:14] }JK13} 12680
[15:25] }Threei}  FCX
[15:25] }Threei} Long Setup:  FCX  44 break
[15:27] }thomcbell} JOY raises mining cap-ex forecast - Bloomberg          *JOY GLOBAL SAYS MINING COMPANIES' CAPEX TO RISE 15% IN 2012 (had said would rise 10%)
[15:31] }dino} gg sm l .15
[15:33] }Threei}  invalidated
[15:36] }dino} out gg .25, +.10
[15:39] }Threei} Short Setup: FCX  44 break
[15:40] }Threei}  stop above .05
[15:40] }dino} son of a... the joy you typed, i was looking for joyg, not joy
[15:40] }dino} bvsn drop
[15:41] }dino} wow negative
[15:41] }nemo} silly
[15:41] }Threei}  sheesh
[15:43] }dino} kill the shorts then kill the longs
[15:44] }nemo} look at IWM, just coming back to trend
[15:44] }Threei}  out FCX
[15:44] }Threei}  crawled into positive territory
[15:44] }nemo} spy is oscillating around  a long term retracement level since the 19th
[15:52] }dino} nemo, how's the job going?
[15:53] }nemo} jury's out...I'm at home today...I'll go in tomorrow and Thursday, then got stuff Friday afternoon and evening.  Not sure if the benefit is there
[15:55] }dino} good luck
[15:55] }nemo} ty
[15:55] }Threei}  well, ending in plus but fully feeling that it was a teeth-pulling day
[15:56] }Threei}  thank you all, have a good evening
[15:56] }Threei}  see you tonorrow
[15:56] }Threei}  who wants fireworks, stay and watch APPL
[15:56] }JK13} gn all, thanks Vad
[15:56] }dino} markets acting a bit differently last few days
[15:57] }Threei}  AAPL too
[15:57] }Threei}  I feel so too dino
[15:57] }Threei}  sonething's brewing
[15:57] }rambler} cya in the a.m.....
[15:57] }dino} risk off coming
[15:57] }Threei}  hope so
[15:57] }dino} i am shorting much more lately
[15:57] }Threei}  really want to trade downside market rather than this tiresomly slow climb
[15:58] }dino} understood
[16:00] }dino} gn all
[16:00] }dino} thx for ideas
[16:00] }nemo} GN