Wednesday, November 28, 2007

November 28, 2007

Session Start: Wed Nov 28 00:00:00 2007

Session Time: Wed Nov 28 00:00:00 2007

[05:32] {Threei} *OCT DURABLE GOODS: -0.4% V -0.1%E; DURABLES EX-TRANSPORTATION: -0.7% V 0.3%E
[05:32] {Threei} - Prior Ex-Transportation revised from 0.3% to 1.1
[05:33] {BillyD} a simple good morning entry would do :)
[05:33] {Threei} yeah but that would be too common
[05:33] {Threei} I like to create drama entry
[05:33] {Threei} hmm... by posting dyrable goods data... I need to get out more
[05:33] {BillyD} your consistent
[05:39] {BillyD} seeing if JADE gets follow thru today
[05:41] {Threei} nice move on no news
[05:41] {BillyD} yeah....eating nice offers as well
[05:43] {Threei} tough read for me
[05:43] {Threei} looked at it several times, couldn't get a feel
[05:46] {cosmo} MRVL?
[05:49] {dino} gm all
[05:51] {Threei} dino!
[05:51] {Threei} 00:21am [MRVL] Price target cut to $19 from $21 at Goldman
[05:52] {cosmo} hmm
[06:02] {Threei} rob peter to pay paul?
[06:03] {cosmo} its a theory
[06:03] {dptl} good morning all
[06:04] {Threei} dp :)
[06:10] {Threei} "Jeez, let me out" is a weak defense I'd say
[06:12] {bruce} morning all
[06:12] {Threei} bruce :)
[06:13] {bruce} hi vad
[06:15] {Threei} BIDZ formed breakout pattern on chart with .40 trigger... honestly I am not too jazzed about it
[06:17] {BillyD} because of its nature?
[06:17] {Threei} there is a hot conroversy around it right now
[06:17] {Threei} kind of battle I don't want to participate in until the air clears
[06:17] {esemde} good morning.....
[06:17] {Threei} ese :)
[06:17] {BillyD} ok...thx
[06:17] {BillyD} morn ese
[06:18] {esemde} morning vad, billy
[06:18] {Threei} for canucks who don't watch CAD real time... it flirted with par overnight,
[06:19] {Threei} slightly retreated
[06:19] {Threei} I doubt we will see those blessed 1.50 - 1.60 levels in our lifetime, but I'd be grateful even for 1.10
[06:20] {BillyD} never say never
[06:20] {Threei} recent .90 is plain brutal
[06:23] {BillyD} take a hit on the conversion in trading
[06:23] {Threei} "hit" is understatement of the century
[06:23] {Threei} from 1.50 for each buck made to .90?
[06:23] {BillyD} ouch
[06:24] {BillyD} sorry to hear
[06:24] {Threei} oh well... when the wheel rotates faster, what a ferret to do :)
[06:24] {BillyD} lol
[06:25] {BillyD} good attitude
[06:31] {Threei} welcome aboard lumdus
[06:31] {BillyD} welcome lumdus
[06:31] {lumdus} thank you
[06:32] {esemde} bstop SPLS 22.96
[06:32] {Threei} no obvious plays at the open
[06:32] {Threei} SPLS, I'da rather try entry on the retreat ese
[06:32] {Threei} 22.40 support
[06:32] {esemde} ok
[06:33] {BillyD} Vad...not a fan of EFTC
[06:33] {BillyD} ETFC
[06:33] {Threei} try to get it on first sign of strength
[06:33] {Threei} .61 let's say
[06:33] {esemde} was thinking just over .60
[06:33] {Threei} :)
[06:33] {Threei} BIDZ, .40 buyer wishes he never heard of this stock
[06:34] {dino} sm wynn l .00
[06:34] {Threei} ETFC is another one of "battle I don't want to take on" billy
[06:34] {BillyD} ok
[06:35] {Threei} bankruptsy or buyout, which happens first, at what price, when... let them guess and gamble
[06:35] {bruce} nvda spike
[06:35] {esemde} quotes have stopped.....whats goin on?
[06:35] {BillyD} ok here
[06:35] {Threei} .73 .74 ese
[06:35] {Threei} SPLS
[06:35] {esemde} what Bs it's .74
[06:35] {Threei} never got your entry?
[06:36] {esemde} my screen froze
[06:36] {BillyD} in JADE .13
[06:36] {BillyD} partial fill
[06:36] {esemde} what a load of........
[06:36] {esemde} will look at the bstop again
[06:36] {dino} wynnstopped -.50
[06:36] {Threei} don't want to harp ese... but you know what I have to say about it...
[06:37] {Threei} wow JADE... you are playing it like violin Billy
[06:37] {BillyD} out +.16
[06:37] {esemde} nope screen froze again......will see you all in a few minutes
[06:38] {dino} wynn rinsed
[06:39] {Threei} SOHU is getting ahead of itself
[06:39] {Threei} probably your client dino
[06:40] {dino} ty
[06:41] {Threei} ATVI
[06:41] {BillyD} just noticing
[06:41] {Threei} .60 long if stays above .45
[06:43] {Threei} if loses it, looking for long of .20 or so
[06:43] {esemde} am back....
[06:43] {Threei} lost
[06:44] {dino} risky, s sohu .50 hl
[06:44] {BillyD} ATVI held .40 area ok
[06:44] {Threei} holding better than expected ATVI
[06:45] {Threei} let's try .50 break
[06:45] {dino} stop is .87, fwiw sohu
[06:45] {Threei} .35 stop
[06:46] {Threei} mildly aggressive
[06:47] {Threei} break that wall ATVI
[06:47] {BillyD} yes
[06:47] {Threei} good boy, now go
[06:48] {Threei} 1:1
[06:48] {Threei} half out .70
[06:48] {Threei} scalpers know the drill
[06:48] {dino} stopped sohu, -.38
[06:49] {BillyD} new stop Vad?
[06:49] {Threei} .49
[06:49] {BillyD} got it
[06:50] {esemde} long NTAP
[06:50] {esemde} .7171
[06:50] {esemde} thats just .71 small
[06:51] {Threei} nice two day's break NTAP
[06:51] {Threei} .55 stop ese?
[06:51] {esemde} yes
[06:51] {Threei} ATVI stop to .54
[06:52] {Threei} DIVX
[06:53] {Threei} tough one...
[06:53] * Threei kicks ATVI in the rear
[06:54] {dino} tbsi hl l .00
[06:54] {BillyD} out rest +.38 thx Vad
[06:54] {Threei} welcome sir
[06:54] {Threei} out 1/4 more ATVI .92
[06:54] {Threei} +.40
[06:55] {Threei} last portion is for spike over 23
[06:55] {Threei} or .85 stop
[06:55] {esemde} out.....don't know what price mid .80's i thinkl...quotes have stopped again
[06:55] {Threei} it's at .86 ese
[06:56] {esemde} tks
[06:56] {Threei} just dove under .80
[06:56] {esemde} .87 +.16....
[06:57] {esemde} no more trading today....we gotum computor problems....
[06:57] {Threei} sorry :(
[06:57] {esemde} hmm don't know whats going on.......
[06:58] {BillyD} spyware or virus
[06:58] {Threei} good out ese
[06:58] {BillyD} maybe
[06:58] {Threei} it's under .70
[06:59] {esemde} yes bs luck......quote connection box went yellow instead of green so i fired in a fast sell order
[07:00] {dino} gj ese
[07:00] {esemde} anyone else using Questrade?
[07:00] {esemde} dp?
[07:00] {Threei} it's been nice knowing you ATVI
[07:00] {BillyD} Laser here ese
[07:00] {BillyD} a good one Vad
[07:01] {Threei} NVLS
[07:01] {Threei} .95 long
[07:01] {Threei} if stays above .80
[07:02] {Threei} keep an eye on NQ for this one
[07:02] {Threei} don't buy it if triggers while NQ drops
[07:02] {BillyD} it dropped
[07:02] {Threei} *OCT EXISTING HOME SALES: 4.97M V 5.0ME
[07:03] {Threei} HOKU?
[07:03] {Threei} ETFC
[07:03] {Threei} HEARING RENEWED CHATTER BUFFETT IS TAKING STAKE IN CO.- Note that the WSJ's Deal Journal report highlights potential pitfalls to any deal
[07:03] {dino} out tbsi .44, +.44
[07:03] {Threei} sigh
[07:04] {Threei} wtg dino
[07:04] {dino} ty
[07:06] {Threei} NVLS is valid, same setup, same condition
[07:06] {esemde} am still long my 100 shs CSIQ at 14.50 though
[07:06] {BillyD} NQ tinker down again
[07:06] {dino} risky, hl l bidz .65, stop .33
[07:06] {esemde} it's making a move toward todays high at 15.50
[07:06] {Threei} SCON buyers
[07:07] {esemde} yes indeed it is
[07:07] {dino} stopped, hmmmm
[07:08] {esemde} should have been it has
[07:08] {Threei} BIDZ is on my stay away for now list dino
[07:09] {dino} pretty beat up
[07:09] {dino} another rinse job, looks like
[07:09] {Roman} long URRE small
[07:09] {dino} or not
[07:09] {Threei} too much arguing around it right now
[07:10] {Roman} 11.32 small
[07:10] {Threei} want to let the dust settle
[07:10] {dino} i'll wait way lower
[07:11] {Threei} RMBS
[07:11] {Threei} 19.01 long
[07:12] {Threei} if stays above .80
[07:12] {Threei} if treiggers from here, stop .85
[07:13] {Threei} lost interest in NVLS breakout
[07:13] {BillyD} vol low for RMBS from memory
[07:15] {bruce} out ebay + .45
[07:15] {Threei} SMSI
[07:15] {BillyD} nice bruce
[07:15] {Threei} half lot short .48
[07:15] {bruce} \thanx billy
[07:15] {Threei} stop above .61
[07:16] {BillyD} good spot Vad
[07:16] {BillyD} in .46
[07:16] {Threei} missed your entry bruce... good one
[07:17] {dino} vrgy s hl .15
[07:17] {dino} stop .53
[07:18] {bruce} thanx vad .42 on pause
[07:19] {dino} gj bruce
[07:19] {bruce} thanx dino
[07:22] {Threei} roman, any clue on SCON?
[07:22] {dino} vrgy stopped, taking a break
[07:24] {Threei} let's tighten SMSI to .56 billy
[07:24] {BillyD} k
[07:25] {Roman} no reed on SCON vad
[07:25] {BillyD} RMBS still?
[07:25] {Roman} but CSIQ looks interest
[07:25] {Threei} ty
[07:25] {Threei} sure, RMBS is as valid as ever
[07:26] {Threei} let's dance RMBS
[07:26] {Threei} don't be a party pooper
[07:26] {Threei} out SMSI
[07:26] {BillyD} out smsi RMBS
[07:27] {Roman} long CPSL
[07:28] {Roman} full size
[07:28] {dino} vrgy rinse job too, sheesh
[07:29] {BillyD} dino...u have Vad's TTR book
[07:29] {dino} yes
[07:29] {BillyD} pg 142...expanding range mkt
[07:29] {BillyD} he showed us yesterday
[07:29] {BillyD} FYI
[07:29] {dino} ahh
[07:29] {Threei} to be precise... I found it yesterday
[07:29] {Threei} {G}
[07:30] {Roman} long KONG
[07:30] {Roman} 1/3 size
[07:30] {Roman} 4.80
[07:31] {Threei} NQ is ready to bust 75
[07:31] {Threei} done
[07:31] {Threei} come on RMBS, follow
[07:33] {Threei} DOE CRUDE: -400K V -750KE; GASOLINE: +1.4M V +1ME; DISTILLATES: -100K V -1ME; UTILIZATION: 89.4% V 87.6%E
[07:33] {Threei} Crude: -5.3M
[07:33] {Threei} Distillate: +2.6M
[07:33] {Threei} Gasoline: +88
[07:34] {Threei} are we swimming in oil or what
[07:34] {Threei} RMBS stop to .89
[07:34] {cosmo} we float on it, 3i
[07:34] {Threei} not sure I like this stall
[07:34] {BillyD} agree on RMBS
[07:34] {Roman} XFML
[07:34] {Roman} long
[07:35] {Threei} should have broken .10 more easily on last NQ spike
[07:35] {BillyD} took some off here
[07:35] {BillyD} .09
[07:35] {Threei} probably a good idea
[07:36] {BillyD} hate to do it as I am trying to hold faithfully
[07:36] {BillyD} but my goodness
[07:37] {BillyD} noe RMBS
[07:37] {BillyD} now
[07:38] {Threei} NVDA demonstrates happiness and perkiness today
[07:38] {Threei} somehow it escaped my attention on .50 breakout
[07:38] {lumdus} i missed the call on rmbs - what was it ?
[07:39] {Threei} 19 lumdus
[07:39] {BillyD} if RMBS can't do it a sign
[07:39] {Threei} 18.84 original stop, .89 now
[07:39] {lumdus} tx .. need to pay more attention here.
[07:39] {dino} btrx s hl .60 stop .93
[07:40] {Threei} why would you do that... even my cat doesn't pay any attention to me when I forbid it to step on buy button
[07:40] {BillyD} does your cat type?
[07:40] {BillyD} that would explain a lot
[07:40] {Threei} no but it likes my keyboard shortcut
[07:41] {Threei} ah, you are mean
[07:41] {Threei} you dislike my grammar
[07:41] {Threei} and spelling
[07:41] {Threei} I would cry if not for the fact that you are not alone
[07:41] {bruce} ebay continues - exited way too early
[07:41] {BillyD} cat like mindset...hehe
[07:42] {BillyD} humor
[07:42] {BillyD} etc, etc
[07:42] {Threei} RMBS like chinese water torture
[07:42] {BillyD} where you at Vade for 1/2
[07:42] {BillyD} rflol
[07:42] {Threei} want .16 - .17
[07:42] {BillyD} ok...thx
[07:42] {bruce} now if you can just train the cat to do winning trades vad!
[07:42] {Threei} but I am flexible
[07:43] {Threei} trying bruce
[07:43] {Roman} show QQQQ
[07:43] {Roman} short
[07:43] {Roman} 51.22
[07:43] {dino} amln hl l .50, stop .23
[07:43] {Threei} party pooper
[07:43] {BillyD} out little RMBS .15
[07:44] {BillyD} .13
[07:44] {BillyD} chinese torture getting best of me
[07:44] {bruce} my level 2's giving crossed quotes today
[07:44] {Threei} offering .17
[07:45] {Threei} server 2 here bruce, looks fine
[07:45] {BillyD} ?me undercuts Vad at .16
[07:45] {BillyD} lol
[07:45] {bruce} out rmbs
[07:45] {BillyD} can't even post jioke properly
[07:45] {Threei} ah that's how is it going to be?
[07:45] {BillyD} jk :)
[07:45] {Threei} won't announce my exits in advance then!'
[07:46] {BillyD} never even entered order and RMBS backs down
[07:46] {Threei} you scared it
[07:46] {BillyD} my whole 200 shares left
[07:47] {Threei} hmm.. NVDA sells while NQ upticks
[07:47] {Threei} either fluke or it's ready to be shorted
[07:47] {Threei} 32.99 short trigger, half lot
[07:48] {Threei} .30 resistance
[07:48] {Threei} if NQ nosedives, short aggressively
[07:48] {BillyD} k
[07:48] {Threei} no full lot today on it
[07:48] {Threei} it's more volatile than usual
[07:49] {BillyD} not sure I'm up for NVDA
[07:52] {BillyD} pivotsal moment for index
[07:54] {dino} bucy fast fall
[07:55] {Threei} out half RMBS
[07:55] {Threei} I obviously like being tortured...
[07:55] {BillyD} good patience
[07:56] {BillyD} do or die mentality
[07:56] {Threei} it's just coma
[07:56] {Threei} I trade much better if I never wake up
[07:57] {Threei} stop .99
[07:57] {Threei} will trail it to .09 if it breaks .20
[08:01] {BillyD} out rest of RMBS...thx Vad
[08:01] {Threei} welcome
[08:02] {BillyD} your NVDA working nicely
[08:03] {Threei} need one more leg down
[08:03] {Threei} maybe I got too greedy
[08:03] {Threei} it had huge bid at .75 when lost .80
[08:03] {BillyD} u n at .99 or higher
[08:03] {Threei} .05
[08:04] {Threei} felt to me like it was ready to bust than bid and drop to the center of Earth
[08:04] {Threei} wishful thinking that proved to be
[08:04] {Threei} than = that
[08:06] {BillyD} where's your stop on NVDA
[08:07] {Threei} that was question I just asked myself
[08:07] {Threei} I guess I'll trail it to above .10
[08:07] {BillyD} .10
[08:07] {BillyD} lol
[08:07] {Threei} stop looking over my shoulder
[08:08] * Threei sweeps his office for hidden cameras
[08:08] {BillyD} check the cat
[08:08] * Threei send his cat to catscan
[08:08] {BillyD} lol
[08:08] {Threei} (pun intended and admittedly lame)
[08:09] {BillyD} got it
[08:10] {BillyD} my JADE disappointing w/ no follow thru
[08:11] {Threei} NVDA stop to 33.01
[08:11] {Threei} no way I lose money on it
[08:13] {BillyD} odds in your favor of down
[08:13] {Threei} out RMBS balance, obviously oversat this one
[08:13] {BillyD} I wasn't quick enough to short it when large .18 showed up w./ NQ slowly sliding down
[08:18] {Threei} out NVDA .80
[08:19] {Threei} +.25
[08:19] {BillyD}'s stubborn
[08:19] {Threei} most likelyt drops down more
[08:19] {Threei} but I seem to be oversitting them today
[08:20] {BillyD} SCON continues...but this one togh for me
[08:27] {BillyD} seems things slowed
[08:29] {dino} inin hl sa .80, stop .11
[08:30] {dino} hmmm, that was fast
[08:31] {dino} core
[08:35] {Threei} LOCM...
[08:38] {bruce} rrgb vad?
[08:41] {Roman} out CPSL
[08:41] {Roman} cover QQQQ
[08:42] {Threei} I like bruce
[08:43] {Threei} just would like help by NQ
[08:43] {Threei} small shares
[08:43] {Threei} it's on a thin side
[08:43] {bruce} yes see that- fairly big spread too
[08:46] {BillyD} are traders waiting on the Fed Beige book at 2pm EST ?
[08:50] {Threei} try to offer it above .50 bruce
[08:50] {Threei} above .30, sorry
[08:52] {bruce} missed entry
[08:52] {bruce} was hoping to see activity about .20
[08:52] {bruce} but skipped ritgh over that
[08:53] {Threei} too thin to trade it like that
[08:53] {bruce} guess so - that was last high so I figred there wouldbe some action
[08:53] {bruce} needed to enter about .15 - 18 I guess
[08:54] {Threei} yes
[08:56] {Threei} feels like upward from here
[08:57] {Threei} let's try half lot NVDA long .85
[08:57] {Threei} stop under .70
[09:01] {Threei} stop to .73
[09:04] {Threei} upward it is
[09:05] {Threei} come on NVDA, break 33
[09:05] {Threei} if uncomfortable, feel free to take profit right under
[09:06] {BillyD} not in here
[09:06] {Threei} suuure... let me suffer alone
[09:06] {BillyD} actually stepped away...and could have entered on PB
[09:07] {BillyD} didn't have faith in mkt cont upward
[09:08] {Threei} beauty
[09:08] {Threei} me out
[09:08] {Threei} +.20
[09:08] {BillyD} gj
[09:11] {dino} out mrvlk +.24
[09:11] {dino} mrvl
[09:11] {Threei} :)
[09:12] {BillyD} in some JADE 3
[09:15] {BillyD} QLTI....take a look Vad
[09:16] {dino} apei
[09:17] {Threei} hard to tell QLTI
[09:17] {BillyD} a bit overextended on daily
[09:17] {BillyD} w/ flatline tendecies
[09:18] {BillyD} and 5 resistance area
[09:19] {bruce} any thoughts efii vad?
[09:21] {Threei} 23 - 23.10 range
[09:21] {Threei} break is valid play
[09:22] {Threei} keep it to half lot
[09:22] {bruce} k saw spike on last run to .1 so wondering if valid or likely done
[09:23] {bruce} in
[09:31] {Threei} market in deep coma
[09:31] {BillyD} ETFC might be getting interesting...I know u don't like Vad
[09:32] {Threei} who doesn't like Vad?
[09:32] {Threei} are there really such people?
[09:32] {Threei} qait... about 6 billions
[09:33] {BillyD} nah....not possible
[09:33] {Threei} 7?
[09:35] {bruce} stopped efii
[09:40] {esemde} see you all tomorrow
[09:40] {Threei} take care ese
[09:40] {esemde} tks for your help today vad...
[09:41] {Threei} I gave any?
[09:41] {esemde} SPLS...
[09:41] {Threei} you mean I was actually here when I typed all my incoherent nonsense?
[09:41] {BillyD} see....people like you Vad
[09:42] {Threei} hard to believe that billy...
[09:44] {BillyD} Vad....u ever use auto stop order w/ Laser
[09:48] {Threei} nope
[09:48] {dino} ppco
[09:51] {Threei} no news
[10:03] {BillyD} QLTI is interssting
[10:26] {dino} wynn hl l .05
[10:31] {Threei} getting interested in RMBS round 2, .21 long
[10:32] {Threei} watching where the support forms
[10:32] {Threei} if it does
[10:32] {BillyD} want more torture eh
[10:32] {Threei} I don't see anything of a fast variety
[10:33] {BillyD} no....I am hostage to JADE
[10:33] {BillyD} may bail to get out of jail
[10:34] {Threei} be thankful you never bought into ETFC
[10:34] {BillyD} I was waiting for the .45 area
[10:35] {BillyD} yeah...glad not aggressive on it
[10:40] {Threei} NQ forms breakout chart...
[10:40] {BillyD} C& H
[10:40] {Threei} don't know how to take it having beige book in 22 min
[10:41] {BillyD} good pt
[10:42] {dino} cov btrx .35, +.25
[10:42] {BillyD} gj
[10:43] {dptl} internet missed half a day
[10:43] {BillyD} NVDA stcuk in a range Vad
[10:43] {Threei} - says does not see recession on the horizon
[10:43] {BillyD} rally
[10:44] {dino} conn
[10:44] {Threei} qwhere?
[10:44] {bruce} sorry to hear dp
[10:44] {bruce} not much going on now
[10:44] {Threei} we may rally now though, market was waiting for dp to reconnect
[10:45] {BillyD} sorry didn't see my humor
[10:45] {BillyD} lol
[10:45] {dptl} i am not sure about that
[10:45] {Threei} that was humor?
[10:45] {BillyD} it's bad I know
[10:45] {Threei} happy to see that billy... I am not alone in bad humor department
[10:46] {BillyD} my humor use to be ok
[10:46] {Threei} then mine rubbedd off
[10:46] {Threei} sorry about that
[10:47] {BillyD} np
[10:47] {BillyD} u r not alone anymore
[10:47] {Threei} yes, it goes into your good deed list
[10:48] {dino} hl l conn .60
[10:53] {BillyD} out some JADE +.07
[10:54] {Threei} enduring torture pays off
[10:54] {BillyD} good exercise for me
[10:54] {Threei} it's verey easy actually
[10:54] {Threei} fall in coma
[10:55] {Threei} stay numb
[10:55] {BillyD} yup
[10:56] {bruce} is your win/loss ratio affected by time of day vad?
[10:56] {Threei} I decrease my activity midday as a rule
[10:57] {Threei} so no, not really... but it would if I pressed ahead all day
[10:57] {bruce} k
[10:57] {bruce} thats what I fugured
[10:58] {bruce} a lot of people don't trade at all after 11
[10:58] {Threei} well, here is always chance of a news play
[10:58] {Threei} or some other reason for atcivity
[10:58] {Threei} so it's not like I withdraw completely
[10:58] {Threei} but I aam much more picky
[10:59] {Threei} it would take more for a stock to lure me in
[10:59] {BillyD} u just play hard to get then
[10:59] {Threei} marginal setup that I may take at 10 I will ingore at 12
[10:59] {Threei} right
[10:59] {BillyD} that is the best way to play it imo
[11:00] {bruce} biggest moves are usually in am
[11:00] {BillyD} people usually full of enrgy first thing
[11:01] {bruce} but there seems to be a lot of major selloffs during lunch time over last few months
[11:01] {Threei} 2 min till Beige bunch of nonsense
[11:02] {Threei} wow
[11:03] {Threei} I am impressed by the depth of insight
[11:04] {BillyD} out more Jadew
[11:05] {BillyD} out rest
[11:05] {Threei} - Retail spending is relatively soft, retailers expect slow holiday season
[11:05] {Threei} - Manufacturers mixed across districts, glut of home putting pressure on prices and construction, business loans high, lending tight on consumer loans, mortgage delinquincies rose significantly
[11:05] {Threei} - Price pressures moderate outside of food and energy
[11:05] {Threei} - Exports are bright spot due to weaker USD
[11:05] {Threei} - Chicago sees higher steel production due to less competition because of the weaker USD
[11:06] {Threei} and market was waiting for this to come out?
[11:06] {BillyD} beat a ded horse
[11:06] {BillyD} dead
[11:13] {lumdus} nvls setting up
[11:14] {Threei} 27 break?
[11:15] {Threei} RMBS too is about to trigger - for those who like being tortured
[11:15] {Threei} .120 support
[11:15] {Threei} .10
[11:21] {Threei} - Fed decisions to be based on incoming data
[11:21] {Threei} - says right now markets are still brittle, but the Fed will not be bullied by markets
[11:21] {Threei} -says unsure if inflation rate will decelerate; biggest inflation threats are energy and food prices
[11:21] {dino} out conn .84, +.24
[11:32] {Threei} wow... haven't seen market that flat in a while
[11:46] {BillyD} maybe look for some shorts if mkt continues to drift down
[11:47] {Threei} well NVDA and BRCM are obvious candidates, they repeat NQ formation
[11:48] {Threei} it's that I don't have rel;iable read on NQ
[11:48] {BillyD} it seems small support levels all the way down
[11:51] {Threei} there is just no "stream" of activity
[11:51] {Threei} there is a trickle
[11:51] {Threei} drop here drop there
[11:51] {Threei} it's not a foundation for a read
[11:51] {Threei} see this spike?
[11:51] {Threei} was there anything to read it?
[11:51] {BillyD} yes
[11:52] {BillyD} is vol low for NQ
[11:52] {Threei} and both NVDA and BRCM reacted accordingly
[11:52] {BillyD} it was like that yesterday to
[11:53] {BillyD} the spikes from nowhere
[11:53] {Threei} don't fool yourself, it's simply "no action because no reason for action" situation
[11:53] {Threei} it's not that we are unable to find it - it's simply not there
[11:53] {Threei} fals "work ethics" push us to do something in such situations
[11:53] {BillyD} I feel better now
[11:54] {Threei} false
[11:55] {BillyD} and we are up 316
[11:55] {Threei} if you put me me in the corner and demand at gunpoint to pick direction - I would pick up
[11:56] {BillyD} I would never do that to you...sounds harsh
[11:56] {BillyD} lol
[11:56] {Threei} with cannon at my temple I could even enter :)
[11:56] * BillyD sends dirty harry to Vad's house
[11:57] * Threei put Yuri the Kneecapshooter and Ivan the Enforcer to guard the door
[11:57] {BillyD} rflol
[11:59] {Threei} just to keep you all from falling asleep
[12:00] {Threei} why would I pick up rather than down?
[12:00] {Threei} anyone, wild guess? or educated one?
[12:00] * Threei slaps LaserDave1 around a bit with a large trout
[12:00] {BillyD} because crowd mindset is up
[12:00] {BillyD} trend
[12:00] {Threei} up to this point, yes
[12:01] {Threei} what about this particular moment?
[12:01] {BillyD} held last suupport
[12:02] {BillyD} thru prior resistance
[12:02] {BillyD} now
[12:02] {Threei} being up 320 NYSE, 65 NASDAQ,
[12:02] {Threei} retreating a little from highs,
[12:02] {Threei} having nothing but bleak outlook from feds
[12:03] {Threei} isn't down too obvious?
[12:03] {Threei} having very very dull market after such run,
[12:03] {BillyD} people numb to it
[12:03] {Threei} isn't it's the best illustration to "never short a dull market"?
[12:04] {Threei} if there is any significance to it, this dullness is masking a trap
[12:04] {BillyD} dull markets can come in downtrends as well right
[12:04] {Threei} sure
[12:04] {Threei} but this combination screams down
[12:04] {Threei} and when something is so "in my face", I refuse to take it at face value
[12:05] {BillyD} but the hanging around of it says otherwise?
[12:05] {Threei} that's suckers game
[12:05] {Threei} it suggests higher chance for it to be a trap, and market to stage surprize rally
[12:05] {BillyD} meaning it's hanging around near high areaqs
[12:05] {Threei} now, there may be not any signifcance to this combination,
[12:06] {Threei} and it could be caused by simple loss of orientaion
[12:06] {Threei} and that's why I don't want to press either way
[12:06] {Threei} but if I had to assign any meaning to this situation
[12:06] {Threei} it would be:
[12:07] {Threei} this is a trap for gullible shorters
[12:07] {Threei} and market is going to explode in their face
[12:07] {Threei} faces?
[12:07] {BillyD} quiet before the storm
[12:09] {BillyD} most stocks bifg and small seem to follow broader mkt lately
[12:09] {BillyD} not too many independents
[12:09] {Threei} oh, it's just a phasw
[12:09] {Threei} phase
[12:09] {Threei} no pronpunced manias last week or two, that's all
[12:10] {Threei} we lived through two manias recently, china and solars
[12:10] {Threei} another one is around the corner
[12:10] {BillyD} overall, most not sure whereto go
[12:11] {BillyD} traders that is
[12:11] {Threei} martial arts principle... "not sure what to do - make a step forward"
[12:11] {Threei} :)
[12:11] {BillyD} long vs short
[12:12] {Threei} NVDA is up 20 cents since we decided no ahort
[12:12] {Threei} consider it profit in a sense... money not lost :)
[12:12] {BillyD} ty Vad
[12:12] {BillyD} mkt getting ready
[12:12] {Threei} new highs
[12:14] {Threei} why don't I write a book about this
[12:14] {Threei} wait... I did
[12:14] {BillyD} pg # please
[12:14] {Threei} correction: why don't I read it
[12:14] {Threei} all of them
[12:15] {Threei} entire book is about this
[12:15] {Threei} first one at least
[12:15] {BillyD} minority vs majority
[12:15] {Threei} major idea of tape reading, yes
[12:20] {_liranme} I quit, good evening everybody.
[12:20] {BillyD} bye liranme
[12:20] {_liranme} I had a great first day here with 100% success.
[12:21] {_liranme} Thanks Vad for ATVI, RMBS, and NVDA
[12:21] {BillyD} great to hear
[12:24] {Threei} wow
[12:24] {Threei} nice to hear
[12:25] {BillyD} 2nd person that likes you today
[12:25] {Threei} I am going to mark this day in calendar
[12:25] {BillyD} will RMBS go
[12:26] {BillyD} 4th time up here
[12:26] {Threei} if eats through .20
[12:28] {lumdus} same here vad great day. just need to concentrate too much
[12:29] {Threei} good to hear
[12:29] {Threei} it wasn't very active day, required discipline to stay on a sideline
[12:31] {Threei} and I am glad it cooperated to show the theoretic principles of market read in real time
[12:37] {dino} risky, s tbsi .15 hl
[12:46] {bruce} checking out
[12:46] {bruce} gday all
[12:46] {Threei} take care bruce
[12:46] {bruce} see you in am
[12:46] {BillyD} bye bruce
[12:46] {bruce} thanx vad
[12:47] {bruce} fending off that nasty cold from your former wi\ter peg
[12:47] {bruce} lol
[12:50] {Threei} TBSI works for dino
[12:50] {Threei} perfect action by market
[12:50] {Threei} kill both sides
[12:51] {Threei} up about 15 pointys from the max dullness moment, just enough to shake out everyone,
[12:51] {Threei} all the way back down, just enough to kill overly optimistic
[12:52] {BillyD} you sound happy about this
[12:52] {Threei} of course I am
[12:52] {BillyD} or the cosnsistent cy
[12:52] {Threei} I could read it just about right not be sucked in on any side,
[12:53] {Threei} a bit more volume and pace and I would even be able to benefit
[12:53] {BillyD} right
[12:53] {Threei} but heck... nicely in the black for the day as it is
[12:53] {BillyD} yes
[12:54] {Threei} and on top of all that...
[12:54] {Threei} 2 (two) people liked me today
[12:55] {BillyD} lol
[12:55] {BillyD} I knew it
[12:55] {Threei} make no mistake, this is not daily occurence for me
[12:55] {Threei} as my wife says, "you are right too often to be liked"
[12:55] {BillyD} you need to pay your family more $
[12:55] {Threei} to make them leave?
[12:55] {BillyD} surprise surprise
[12:56] {BillyD} poor woman...bless her soul to put up with you
[12:56] {BillyD} and a know it all cat
[12:56] {Threei} lol
[12:56] {BillyD} lol
[12:57] {dino} cov .91, +.24 tbsi
[12:57] {BillyD} so tell me....who really calls the trades?
[12:57] {BillyD} nice dino
[12:57] {dino} ty billy, under-performed today.
[12:57] {Threei} you would think at my age I should learn not to voice out my opinions about things so people could conrtin ue liking me... but nooooo
[12:58] {Threei} this is overly long weekend dino... lost touch a little :)
[12:58] {BillyD} always tomorrow dino :)
[12:58] {BillyD} look at bounce move now
[12:58] {BillyD} crazy
[12:59] {Threei} this one I couldn't read at all
[12:59] {Threei} that was pure 50/50 to me
[12:59] {Threei} coyuld break 2090 just as easily
[13:01] {dino} yeah you're right 3i. will be better tomorrow
[13:01] {BillyD} thx Vad aand everyone...cya tomorrow
[13:01] {Threei} thank you all
[13:01] {Threei} have a great evening
[13:01] {Threei} see you tomorrow
[13:02] {dino} later all