Thursday, December 11, 2008

Dec 11 00:00:01 2008

Great start of the day with silver and gold stocks. Drab afternoon with some scalps, some stops - pretty much a wash. On the total, another nice day that we could pretty much end in an hour after open. Had a chance for a nice real time demonstration of trades based on former resistance/new support.

Session Time: Thu Dec 11 00:00:01 2008

[08:10] {Threei}  - Expectations for initial claims are 525K v prior release of 509K
[08:10] {Threei}  - Continuing claims seen at 4.100M v prior 4.087M.
[08:18] {Threei}  BALTIC DRY BULK INDEX +2.9%
[08:19] {Threei}  {DRYS EGLE DSX EXM}
[08:30] {Threei}  INITIAL JOBLESS CLAIMS: 573K V 525KE; CONTINUING CLAIMS: 4.429M V 4.100ME
[08:30] {Threei}  yikes
[08:31] {Threei}  *OCT TRADE BALANCE: -$57.2B V -$53.5BE
[08:39] {Threei}  DRYS
[08:39] {Threei}  10.02 yest low
[08:39] {Threei}  loses 10 now
[08:40] {Threei}  small shares short
[08:40] {Threei}  ugh
[08:40] {Threei}  don't chase
[08:42] {Threei}  got just 200 shares
[08:42] {Threei}  hardly worth much... but will consider it morning warm-up
[08:42] {Threei}  covered half .80
[08:43] {Threei}  ummm... half of 200 shares {G}
[08:43] {_elepet} I am having trouble understanding what goes on.  could you please explain in detail what you just did?
[08:43] {Threei}  shorted 10 breakdown on DRYS
[08:44] {Threei}  out 9.59
[08:45] {Threei}  [08:39] {Threei} 10.02 yest low
[08:45] {Threei}  [08:39] {Threei} loses 10 now
[08:45] {Threei}  [08:40] {Threei} small shares short
[08:45] {Threei}  two days support breakdown
[08:45] {Threei}  serves as short trigger
[08:46] {Threei}  helps, elepet?
[08:47] {_elepet} a bit.  now it has started back up. shorts covering?
[08:47] {Threei}  and borttom fishing
[08:47] {_elepet} would you consider buying long at any oint?
[08:48] {Threei}  not yet
[08:50] {Threei}  I don't enter randomly... need a setup
[08:50] {Threei}  that breakdown was one
[08:51] {Threei}  bounce was from arbitrary point, can't read it
[08:51] {_elepet} please explain "setup" in this situation.
[08:51] {Threei}  setup is a certain chart formation
[08:51] {Threei}  providing favorable odds
[09:01] {_elepet} If two days breakin support triggers short, is there anything like that which triggers long?
[09:02] {_elepet} I am somewhat "chart challanged"
[09:03] {_elepet} watching tape, i would have gone long again at about 10.10
[09:04] {Threei}  there are a lot of setups
[09:04] {Threei}  can't really answer that without retyping two books here :)
[09:04] {Geo} gm
[09:05] {Threei}  Geo :)
[09:05] {Geo} i see yo made a killing on DRYS vad :)
[09:05] {Threei}  lol
[09:07] {tomg} good morning all
[09:07] {Threei}  tom :)
[09:08] {tomg} vad, can you look back at 13:49 yesterday and tell me what setup you saw for Q's?
[09:10] {Threei}  pullback after breakout, conservative entry
[09:11] {tomg} ok, ty but it's hard for me to see that one
[09:12] {Threei}  didn't work anyway
[09:12] {Threei}  so who cares {G}
[09:12] {tomg} i saw h&s and failure to make new highs at about 13:17
[09:12] {tomg} i care
[09:13] {tomg} for next time :)
[09:14] {lisa_jay} Charts can be seen differently by different folks.  Just control risk and trade sestup.  Dinoism, Vadism.
[09:14] {tomg} just don't see breakout point, that's all
[09:15] {Threei}  let's try to go over it when it appears next time, easier for me to do it when it's fresh
[09:15] {tomg} ok
[09:15] {Threei}  alzheimer, you know...
[09:15] {Onix} Good morning all
[09:15] {Threei}  plus, I tend to forget about those that don't work in a span of whole 1 minute
[09:15] {Threei}  onix :)
[09:16] {ese} morning
[09:16] {Threei}  ese :)
[09:16] {Onix} hi ese
[09:16] {KSystems} Good morning!
[09:16] {Threei}  ks :)
[09:16] {KSystems} vad :) long time no see
[09:17] {Onix} hi ks
[09:17] {KSystems} hey Onix
[09:17] {Threei}  hey... don't overestimate my alzheimer :)
[09:17] {Threei}  I do remember I've seen you yesterday
[09:18] {brian3579} gm all
[09:19] {dino} gm all
[09:19] {Threei}  brian, dino :)
[09:20] {hawkfan4} morning
[09:20] {_elepet} Oh, good morning everybody.  Am I the only trial member here?
[09:20] {Onix} hi brian & dino
[09:20] {dino} lol, afam out just now +.91
[09:21] {Threei}  hawk :)
[09:21] {hawkfan4} gm elepet, looks that way :)
[09:21] {Onix} gm elepet
[09:22] {_elepet} I have lots of questions. maybe I'll wait for the time of day when the doldroms set in.
[09:22] {patience} that would be august
[09:22] {patience} good morning
[09:22] {Threei}  lol
[09:22] {KSystems} :)
[09:22] {Threei}  good morning patience
[09:22] {Threei}  CIEN
[09:23] {dino} lol patience
[09:23] {dino} welcome to the jungle elepet
[09:24] {Onix} hi patience
[09:25] {patience} hi onix, looking to dump my silver wheaton shortly
[09:25] {patience} will be watching the VIX today, I still can't believe market going up
[09:25] {Onix} yes, i suppose it will move down shortly after opening?
[09:27] {dino} believe patience, i have some nice swamp land for sale
[09:27] {Onix} lol
[09:27] {patience} i have some northern ocean front for sale too dino
[09:27] {dino} :)
[09:33] {lisa_jay} .
[09:34] {magoo} lksfdijhfdhfdhjjhl
[09:34] {Threei} Long Setup:  SSRI  half lot 10 break
[09:34] {Threei}  if stays above .85
[09:35] {Geo} 11
[09:35] {Threei}  11, sorry
[09:36] {dino} well the fri close gap filled finally
[09:37] {magoo} SIGH..not one of u gave a "good morning magoo"
[09:38] {lisa_jay} Good morning Magoo.
[09:38] {patience} we know you're shy magoo
[09:40] {Threei}  oh hi magoo
[09:41] {lisa_jay} Are nasdaq stocks updating for you all?
[09:41] {Threei}  yes
[09:42] {lisa_jay} Ok, thanks.
[09:47] {Threei} Long Setup:  RGLD  small shares .50 break
[09:48] {Threei}  stop under .30
[09:48] {Threei}  thin one
[09:49] {Threei}  SSRI will be valid again if pulls back slightly and stays above .85 again
[09:50] {Threei}  or consolidates here for a few minutes
[09:50] {patience} out slw +.93
[09:50] {patience} hated holding overnight
[09:50] {lisa_jay} nice
[09:50] {Onix} gj
[09:50] {Threei}  wtg
[09:51] {patience} ty  :)
[09:52] {peterg} morning
[09:52] {Threei}  peter :)
[09:52] {Chaeron} good morning all.... nice hold patience
[09:52] {Threei}  chaeron :)
[09:53] {dino} gj patience
[09:53] {Threei}  half out SSRI
[09:53] {Threei}  +.20
[09:54] {_elepet} when did you get in. i missed that
[09:54] {Threei}  [09:34] {Threei} Long Setup: SSRI half lot 11 break
[09:54] {Threei}  [09:49] {Threei} SSRI will be valid again if pulls back slightly and stays above .85 again
[09:54] {Threei}  [09:50] {Threei} or consolidates here for a few minutes
[09:54] {KSystems} got from .01 to .19 half, thanks
[09:55] {Threei}  :)
[09:55] {Geo} final target vad?
[09:55] {Threei}  it broke 11 at 9:52 elepet... seee that?
[09:56] {_elepet} yes, but i wasn't clear that you actually bought then. now i see.
[09:56] {Threei}  it triggers, I enter
[09:56] {Threei}  next spike Geo... feeling is somewhere above .40
[09:57] {Geo} ty
[09:57] {magoo} i hit RGLD .38
[09:57] {_elepet} so i guess if i got in now it would be "chasing" and don't do it?
[09:58] {Threei}  that would be a whole lot of chasing
[09:58] {Threei}  we already sold half, why would tou want to enter 3o cents above trigger price
[09:58] {peterg} to make a dime?
[09:58] {Threei}  risking over 30 cents stop? :)
[09:59] {peterg} aha
[09:59] {Threei}  not my idea of right way to trade
[09:59] {wishbone} ssri shares sold 2, 3, 4 at  time
[10:00] {_elepet} I keep watching drys go up. but in never hit your trigger?
[10:00] {patience} slw on coke,,,crying, i left much on the table
[10:01] {wishbone} ssri +.31 ty vad
[10:01] {Threei}  wishbone :)
[10:01] {Threei}  I never had a call on DRYS
[10:02] {dino} what?! patience, just say no
[10:02] {magoo} vad..last night i was dreaming in a trade u called 
[10:02] {Geo} sheesh
[10:02] {patience} bitter bitter tears, i coulda had the 60 inch tv
[10:02] {peterg} the fifty aint half bad
[10:02] {Geo} now thats a true lament patience
[10:03] {patience} funny thing is...i don't watch tv, but my daughter wants one
[10:03] {peterg} of course
[10:03] {tomg} i've done that magoo, more than once :)
[10:03] {Chaeron} day isn't over yet patience...
[10:03] {dino} hearing the same in my house
[10:03] {tomg} would never have admitted in here, though :)
[10:03] {Chaeron} just get another trade
[10:03] {Threei}  mags, consider exiting RGLD into spike over .70
[10:04] {Geo} my 4 year  old went to a friends house and was mortified that they didnt have a tv in their bedroom
[10:04] {Geo} i need to manage expectations better
[10:04] {dino} how do they watch the vidioes then?
[10:04] {Threei}  out second half SSRI .42
[10:04] {peterg} tv in every room?
[10:04] {Geo} lol
[10:04] {Onix} wtg
[10:04] {wishbone} dino lol
[10:04] {magoo} anyone get RGLD with me?
[10:04] {patience} hiding
[10:05] {dino} vno sm l .90
[10:06] {Threei}  [10:03] {Threei} mags, consider exiting RGLD into spike over .70
[10:06] {Geo} exited as per bad 20 cens thanks
[10:06] {magoo} oops lol
[10:06] {Threei}  [10:06] {Threei} [10:03] {Threei} mags, consider exiting RGLD into spike over .70
[10:07] {Geo} all out .49 ssri
[10:07] {Geo} thanks vad
[10:07] {Threei}  welcome
[10:07] {ese} L HERO .72    see if can make the jump to 6}00
[10:07] {dino} vno stopped -.32
[10:07] {magoo} out TY
[10:07] {ese} aggressive entry
[10:11] {dino} vno rinsed
[10:12] {Threei}  - Note: Yesterday the Senate Republican caucus was vocally against the bill, and at least one Democratic Senator was also against the bill.{GM F}
[10:15] {magoo} if QQQQ goes up...i like it long here he he
[10:15] {Threei} Long Setup:  QQQQ  30 break if stays above .90
[10:15] {magoo} great minds 
[10:15] {ese} stop to .75 HERO 
[10:16] {Threei}  in Qs aggresively
[10:16] {Threei}  .91
[10:17] {Threei}  stop under .85
[10:17] {magoo} too funny..92 here
[10:18] {Threei}  ideally, it would spike into 30 now for half out, and then broke for another half
[10:18] {Geo} in .91 too
[10:18] {Geo} 10 lots
[10:18] {Threei}  10 eh?
[10:18] {Geo} hehehe
[10:19] {Geo} just helping you along
[10:19] {Threei}  kick it too then
[10:19] {Threei}  ah come on, was almost there
[10:19] {ese} out HERO .94 +.22 on a lot and a 1/2
[10:20] {Threei}  wtg ese
[10:20] {ese} volume was kinda thin for  alot and a 1/2 but if ya can't have fun once in a while.........when can ya eh?
[10:20] {Threei}  move your butt QQQQ
[10:20] {Threei}  half out .99
[10:21] {Geo} yessssssss
[10:21] {KSystems} me too
[10:21] {Threei}  had two lots
[10:21] {Geo} me too
[10:21] {KSystems} not me
[10:22] {wishbone} out q's 30
06[10:22] * magoo slaps Geo around a bit with a large a word of caution to the newbie he he
[10:22] {Geo} its thick and gives many chances to be right or wrong
[10:22] {Threei}  sooo
[10:22] {Threei}  stop is .89 now
[10:22] {Threei}  offering 1/4 more 30.10
[10:22] {dino} axys v sm l .30 wide risky
[10:22] {Geo} thanks magoo
[10:23] {magoo} just keep the stops as size goes up magoo
[10:23] {Geo} yeah real diligent on stops
[10:23] {magoo} double loses twice as fast 
[10:23] {Geo} agree
[10:23] {Geo} i only do it in QQQQ as small stops and thick
[10:23] {Threei}  it would be so even if you disagreed...
[10:23] {Geo} mannn almost filled
[10:23] {KSystems} I'm waiting at .10 for another 1/4
06[10:24] * Geo slaps Geo around a bit with a large rich and hated manual
[10:24] {Threei}  ah come on
[10:24] {Threei}  ok
[10:24] {Geo} yessssss
06[10:24] * magoo slaps Threei around a bit with a large book of wisdom
[10:24] {Threei}  out 1/4 more
[10:24] {Threei}  stop to .95
[10:24] {Geo} half lot left
[10:24] {Geo} aitting at .2
[10:24] {Geo} sitting
[10:24] {Threei}  offering last portion at the price to be determined yet
[10:25] {Geo} wow hero ese
[10:25] {magoo} hurry up so i can undercut u lol
[10:25] {Threei}  lol
[10:25] {Geo} dont think undersut works in Qs
[10:25] {Geo} gld ill belive and do it !
[10:25] {Geo} hmm undershirt
[10:27] {magoo} out .09
[10:27] {magoo} btw
[10:28] {magoo} id thank u but it was my call he he
[10:28] {Geo} imo pullback only
[10:28] {magoo} [10:15] {magoo} if QQQQ goes up...i like it long here he he
[10:28] {magoo} [10:15] {Threei} Long Setup:  QQQQ  30 break if stays above .90
[10:28] {Geo} sitting at previous close
[10:28] {Geo} shame on vad for mooching
[10:28] {magoo} nobody gets the joke??
[10:29] {magoo} of course if goes up we like it long
[10:29] {Geo} lolol
[10:29] {Geo} dint read detail
[10:29] {wishbone} ty magoo and vad for the synchronized that an o;lympic sport? :)
[10:29] {Geo} ughhhh
[10:29] {Threei}  lol
[10:29] {Geo} ugly image of both swimming
[10:29] {magoo} hmmmmmmmmmm daytrading as an olym sport?
[10:30] {Geo} my burn retinas
[10:30] {wishbone} lol
[10:30] {wishbone} in speedos
[10:30] {magoo} magoo struggling to lift vad on ice
[10:31] {dino} axys stopped -.41 v sm
[10:31] {Geo} it def wants up
[10:32] {Geo} keeping my half lot
[10:34] {Threei}  stop to .99
[10:35] {Geo} any target yet vad?
[10:35] {Threei}  I am out
[10:36] {Threei}  too hard spike
[10:36] {Geo} out at .2
[10:36] {Threei}  yup, same here
[10:36] {Geo} thanks lord vadere
[10:36] {Threei}  welcome
[10:36] {Geo} previous close superstition
[10:36] {Geo} heheh nice out
[10:36] {Threei}  witness the dump
[10:36] {Threei}  lol
[10:36] {Chaeron} Qs in .91 out .18 for +$0.27.... thanks Vad
[10:36] {Threei}  :)
[10:37] {KSystems} is Q's action comparable to NQ?
[10:37] {Threei}  same thing
[10:37] {KSystems} k
[10:37] {Threei}  NQ is futs, Qs is cash
[10:38] {wishbone} geo, previous close superstition?
[10:38] {Geo} .20 was previous close
[10:38] {Geo} i used it as a res to exit
[10:39] {Geo} well no close but high of last candle
[10:39] {Geo} doesnt make sense  so called it superstition
[10:39] {wishbone} gotcha' ty
[10:40] {Geo} switching to profit protection mode....nice day eh vad?\
[10:41] {Threei}  very much so
[10:41] {dino} gj geo
[10:41] {peterg} good-oh gee-oh
[10:42] {dino} vno sm l .50
[10:44] {Threei}  exits into sharp spikes... how I like thee...
[10:44] {peterg} is a spike up or down?
[10:44] {peterg} or both
[10:44] {peterg} depending
[10:45] {peterg} exit into spike....hmmmm
[10:45] {peterg} I see, it is unknown
06[10:45] * Threei slaps peterg around a bit with a large book of Techniques of Tape Reading
[10:46] {peterg} my copy is at home
[10:46] {peterg} my dog ate it
[10:46] {lisa_jay} Vad, if one gets slapped repeatedly with the book can one absorb conents into brain.
[10:46] {peterg} wait, I dont have a gog
[10:46] {peterg} dog
[10:46] {Threei}  sharp upward spike with volume increase signifies what?
[10:46] {peterg} jbe
[10:46] {Threei}  that's the idea lisa
[10:47] {Threei}  JBE is consolidation setup
[10:47] {lisa_jay} Ok, then euphoria....
[10:47] {peterg} yes sensie
[10:47] {Threei}  there
[10:47] {Threei}  Euphoria
[10:47] {peterg} sensei
[10:47] {Threei}  which marks the what?
[10:47] {lisa_jay} Unload shares to suckers like me.
[10:47] {Threei}  lol
[10:48] {dino} lol
[10:48] {peterg} lisa is good student. I was always BAD student
[10:48] {Threei}  politically correct version is, it marks the end of the stage of the move
[10:48] {peterg} but I learned anuyway
[10:48] {lisa_jay} I am good only in theory...
[10:48] {peterg} thats good
[10:48] {peterg} a start
[10:48] {peterg} I learn backwards;
[10:48] {peterg} practice followed by theory
[10:49] {peterg} takes twenty or thirty years per skill
[10:49] {peterg} but when you get it its solid
[10:57] {lisa_jay} testing
[10:58] {Threei}  A+
[10:58] {lisa_jay} Thanks Vad.
[10:58] {lisa_jay} My microwave kills the connection.   Just wanted to make sure I am connected.
[10:59] {Threei} Long Setup:  GG  .60 break, half lot, if stays above .50
[11:01] {magoo} in gg
[11:02] {wishbone} in gg
[11:04] {Geo} out
[11:04] {wishbone} stopped gg
[11:04] {Geo} at .47
[11:05] {magoo} out
[11:05] {Geo} good to embrace stops
[11:06] {lisa_jay} stopped
[11:07] {dino} obama on
[11:08] {magoo} mkt usually likes osama
[11:08] {Threei}  shakeout
[11:08] {magoo} er um obama
[11:08] {Threei}  grr
[11:09] {Geo} i entered 50
[11:09] {Geo} out 60
[11:09] {Geo} just got the stop back
[11:09] {Geo} when heard the one is one
[11:10] {Geo} vad did you find th symbol?
[11:13] {Threei}  no
[11:13] {Threei}  asked dave to check but forgot to asak him what he found out
[11:15] {KSystems} I need to get the car back
[11:15] {KSystems} back in about 2h
[11:15] {Threei}  volume is so low on thia advance, I can't get a feel
[11:15] {KSystems} dont empty the market completely while I'm away
[11:15] {Threei}  what kind of a car if I may?
[11:15] {KSystems} Mazda MX-5
[11:16] {Threei}  ok... get it back then
[11:16] {KSystems} they sold it in north america as Miata I think
[11:16] {peterg} the cute convertible
[11:16] {Threei}  'cause if it's american-made, you may just as well not to bother {G}
[11:16] {Geo} fancy that
[11:16] {peterg} pls, north american made
[11:16] {Geo} germans buying cheap japanese
[11:16] {Geo} i have a mazda too
[11:17] {lisa_jay} which one Geo?
[11:17] {peterg} soon as vad makes me more money, im getting the big benz
[11:17] {Geo} cant fit in miata though
[11:17] {Geo} old 626
[11:17] {peterg} good car that
[11:17] {lisa_jay} Wow.
[11:17] {Geo} debating pilot or sequoia
[11:17] {peterg} sequoia so big
[11:17] {Threei}  read my lips:
[11:18] {Threei}  Nissan Murano
[11:18] {Geo} i need 3 rows
[11:18] {dino} still waiting for buy one get one free from us carmakers
[11:18] {Threei}  no you don't
[11:18] {Geo} kids + cycle etc in the back
[11:18] {Geo} we have good weather vad
[11:18] {Threei}  put kids on bicycles and make them chase you
[11:18] {Geo} so go out with lot os stuff
[11:18] {Geo} hehehehe
[11:19] {peterg} needs to have ipod connection built in
[11:19] {Threei}  sheesh, how many kids do tyou have??
[11:19] {dino} 3rd row is nice geo, i have it too
[11:19] {Geo} only 2
[11:19] {Threei}  so what's the problem
[11:19] {Threei}  bike rack
[11:19] {Geo} but its a pain when family visits
[11:19] {peterg} but its nice to have them as far back as possible
[11:19] {Threei}  kids go to back seat
[11:19] {Geo} and they visit a lot
06[11:19] * Geo thinks they visit more than they should
[11:20] {Threei}  well... buying bigger car for that you encourage more visits {G}
[11:20] {Geo} lol
[11:20] {lisa_jay} lol
[11:20] {Geo} its their grandkids
[11:20] {magoo} why is everyone ignoring magoo today????
[11:20] {Geo} ok magoo
[11:20] {Threei}  is magoo here?
[11:20] {Geo} which car and how many kids
[11:20] {peterg} who is magoo?
[11:20] {lisa_jay} I thoght you went to the pot** took a dive.
[11:21] {dino} lol
06[11:21] * peterg slaps Geo around a bit with a large diamond-encrusted 1959 Cadillac Coupe DeVille
[11:22] {Geo} yup dino third row is good for visitors and great to pt down and put stuff for day picnics
[11:22] {Geo} i dont like getting slapped with bankrupt company cars
[11:22] {peterg} this is a classic
[11:22] {peterg} monster fins from the past
[11:22] {Geo} how about the phaeton
[11:22] {peterg} the benz ?
[11:22] {peterg} nice
[11:23] {peterg} saw one once, like on rails
[11:23] {peterg} in NYC
[11:23] {peterg} no rolls phaeton
[11:23] {peterg} benz Mayfair, mayback
[11:23] {peterg} maybach
[11:23] {dino} geo, you worry too much, when they discount the cars 10k+, bankruptcy not really an issue, imo
[11:23] {laserdave1} laserdave1 slaps Threei around with a salami sandwhich
[11:24] {lisa_jay} big dive
[11:25] {Geo} hey dave whats the symbol of 30 year treasury bon
[11:25] {Threei}  wow
[11:25] {Threei}  what happened?
[11:25] {Geo} double top
[11:25] {Geo} aint i smart
[11:26] {peterg} qqqq looks like batman
[11:26] {Threei}  rofl
[11:26] {Threei}  what imagination
[11:26] {Geo} 1220 break short NQ in hindsight
[11:26] {dino} lol it does
[11:38] {Threei}  if you had this setup, why not short it on bounce into new resistance/former broken asupport?
[11:38] {Threei}  perfectly touched 1220 on bounce and dropped back
[11:39] {lisa_jay} That would be conservative entry Vad?
[11:39] {lisa_jay} for Double top?
[11:40] {patience} hey dino, how do we close today?
[11:43] {dino} wmt hl .50 l
[11:43] {dino} up the gut says
[11:43] {patience} ty
[11:44] {dino} axys no mercy
[11:45] {Threei}  yes lisa, plus this idea of support becoming resistance
[11:46] {lisa_jay} Ok, thanks Vad.
[11:47] {Threei}  let's do a quick educational review
[11:47] {Threei}  have a look at GG 1 minute
[11:47] {wishbone} ya
[11:48] {Threei}  from 1_45 to 11:20 roughly, it established .50 as support
[11:48] {Threei}  from 10:45
[11:48] {Threei}  11:24 it broke down
[11:48] {Threei}  now, after the drop, bounce reached this level
[11:49] {Threei}  now it served as resistance, and GG dropped off of it
[11:49] {Threei}  made higher low and restested resistance again,
[11:49] {Threei}  with higher low it became more likely to break it this time which it did
[11:50] {Threei}  after break it retreated twice into this former resistance, now support
[11:50] {Threei}  and both times held it, making it possible entry on a long side.
[11:50] {lisa_jay} yes
[11:51] {Threei}  when such pronounced levels are being established, there is ample opportunity for scalpers to play around it
[11:51] {lisa_jay} Vad, when there is a pullback, how do you determine when to enter.
[11:52] {Threei}  pretty much discretionary,
[11:52] {Threei}  general idea is:
[11:52] {lisa_jay} On first sign of strength? or put order in to be hit (which sometimes it does not).
[11:52] {Threei}  when it nears such level close enough for your risk comfort, you are watching for signs of strength resuming
[11:53] {dino} axys sm l .00
[11:54] {lisa_jay} GG goint to retest the .50 level again.
[11:55] {lisa_jay} Took 10c on it Thanks Vad.
[11:55] {Threei}  notice how lower Bollinger band came into .50 at the same time
[11:56] {Threei}  worked perfetcly
[11:56] {Threei}  and lisa profited from very fresh lesson
[11:56] {Threei}  lol
[11:56] {Threei}  could it be any more perfect
[11:56] {wishbone} kick ass....thanks Vad...nice work Lisa:)
[11:56] {Threei}  theory lesson turning into profit 3 mnutes later
[11:56] {lisa_jay} Thanks Wishbone.
[11:57] {Threei}  you guys must allow me one not funny joke for that... and laugh at it
[11:57] {lisa_jay} ok
[11:57] {wishbone} no arguments here!
[11:59] {wishbone} vad would you describe some signs strength?
[12:00] {Geo} forgot your setting vad
[12:00] {Geo} mind sharing the BB setting again?
[12:00] {Threei}  just level 2/T&S wishbone
[12:01] {Threei}  bids strengthening, offers thinning, prints switching to ask side, uptick
[12:01] {Geo} that line is gold vad
[12:01] {Threei}  geo: 13, stardard deviation 1.7
[12:02] {Geo} ty
[12:02] {Threei}  which line?
[12:02] {wishbone} ok ty vad
[12:02] {magoo} ok..i have apptmt today so have to leave
[12:02] {Geo} [09:01] {Threei}  bids strengthening, offers thinning, prints switching to ask side, uptick
[12:02] {magoo} ty all
[12:02] {Geo} wait mago!!!!!!!!!!!!!!!!!!!!!!!
[12:02] {Threei}  ah come on... standard thing
[12:02] {lisa_jay} Bye Magoo.
06[12:02] * Geo slaps magoo around a bit with a large trout
[12:02] {magoo} he he
[12:02] {Threei}  take care mags
[12:02] {dino} wmt stop to .94\
[12:03] {Geo} learning it real time wihle looking for it difficult
[12:04] {dino} out wmt +.44
[12:04] {lisa_jay} nice
[12:05] {dino} ty
[12:05] {Threei}  30.20 now QQQQ support
[12:06] {Threei}  was broken on a sharp spike so not very strong support
[12:06] {Threei}  but something to watch
[12:10] {lisa_jay} Q's broke out of flag on 60 min chart.
[12:31] {patience} is every on wall street at the christmas party?  is anything moving?
[12:31] {patience} everybody
[12:32] {dino} nope
[12:33] {Geo} zzzzzzzzzzzzzzzzzz
[12:33] {Threei}  yawn©
[12:35] {patience} ok, taking mom shopping, give us 20 minutes and the market should pop
[12:35] {wishbone} just took 40 winks:)
[12:35] {lisa_jay} lol
[12:35] {Threei}  please tell us where you shop if that publickly traded
[12:35] {lisa_jay} Yeah..should we buy COH, COST, M
[12:36] {Threei}  peter used to move RIMM for us when manoevered with Blackberry
[12:36] {peterg} sent it back, still using Motorola Razr
[12:43] {lisa_jay} GG did another retest of breakout level.
[12:43] {lisa_jay} .80 this time.
[12:44] {Threei}  works like charm eh?
[12:45] {Threei}  watch what it does near 29 now
[12:45] {Threei}  recently broken resistance
[12:46] {Geo} hey what happenned to the blinking color calls ?
[12:46] {Threei}  you didn't see those in the morning?
06[12:46] * Geo is not greedy?
[12:46] {Threei}  10:59 the most recent
[12:47] {Threei}  reversed off 29.03 lisa
[12:47] {lisa_jay} yes, too busy eaty spagetti...could have taken it off of .91.
[12:48] {Geo} mmmmm spagetti
[12:48] {Threei}  I would pick spaghetti too
[12:48] {lisa_jay} with tons of cheese...made of 5 year olds.  Yummy.
[12:48] {lisa_jay} beats getting .30c on trade anyday.  sigh.
[12:48] {Geo} depends on the lot size on the 20 cents lol
[12:48] {Geo} 30
[12:49] {lisa_jay} yeah
[12:49] {dino} lol
[12:50] {Threei}  but I am the guy who said (and got slapped for that) "Given a choice between heartburn and romance as a cause for some behavioral patterns, I'll name heartburn any day"
[12:50] {lisa_jay} lol
[12:50] {Geo} that was too deep
[12:50] {Threei}  that's me
[12:50] {Threei}  deep
[12:51] {Geo} lvs
[12:55] {Threei}  GG nonstop
[12:56] {lisa_jay} sob
[12:57] {Geo} serves both of yo right
[12:57] {Geo} teaching and learning rather than trading
[12:57] {lisa_jay} :-)
06[12:57] * Geo ducks
[12:57] {Threei}  I got it
[12:57] {Threei}  geo is taliban
[12:58] {Geo} wot???????????????
[12:58] {Threei}  hates the image of woman learning
[12:58] {dino} t sm l .50
[12:58] {Geo} you do realize taliban means student in urdu
[12:58] {Threei}  nope
[12:58] {Threei}  I don't even know what urud is
[12:58] {Threei}  urdu
[12:58] {Geo} derivative of arabic
[12:58] {Geo} spoken in south asia
06[12:59] * Threei decides against phrase "I don't even know what sia is"
[12:59] {Threei}  asia
[12:59] {Geo} its where russia claims to be
[12:59] {lisa_jay} Sia is a singer.
06[13:00] * Geo googling frantically
[13:00] {Geo} is she cute?
[13:00] {Threei}  it's he
06[13:00] * Threei ducks
[13:00] {Geo} nope
[13:00] {Geo}
[13:00] {lisa_jay} I love her music, but not sure if she is cute...i don't swing that way.
[13:00] {Geo} no meat eating man will be named sia
[13:01] {Threei}  HIG, small bounce scalp if pulls back closer to 16
[13:04] {peterg} still lower on HIG?
[13:04] {Threei}  not taking it here
[13:04] {peterg} k
[13:04] {Threei}  too far from support
[13:05] {Threei}  meat eating man eh... I like this
06[13:07] * Threei slaps KSystems around a bit with a large clay model of Mazda MX-5
[13:08] {Threei}  finher on the trigger HIG
[13:08] {Geo} ot?
[13:08] {Geo} lot
[13:08] {Threei}  full
[13:09] {Threei}  in
[13:09] {Threei}  .03 and .04
[13:09] {Threei}  just a scalp, ridiculously tight stop
[13:10] {Geo} under 95?
[13:10] {lisa_jay} where stop vad
[13:10] {Threei}  either under .95 or even under 16
[13:10] {_elepet} in at .04
[13:10] {Threei}  this kind ofte requires a few tries
[13:10] {Threei}  high odds of shakeout
[13:12] {Threei}  no help from market
[13:13] {Geo} out
[13:14] {Threei}  no woprky
[13:14] {dino} out t
[13:42] {dino} vno sdm l .22
[13:43] {dino} sm
[13:45] {Geo} hullo?
[13:45] {Threei}  ewho are you calling hullo?
[13:45] {Geo} ok connected
[13:50] {lisa_jay} ggany read Vad?
[13:51] {lisa_jay} never mind
[13:54] {Geo} yawn (copyrighted)
[13:54] {dino} vno stop is .98
[13:54] {dino} stopped
[13:55] {lisa_jay} dumps
[13:55] {Geo} wow
[13:59] {Geo} inside day again i guess
[14:03] {Threei}  JPM
[14:14] {peterg} ok group, off to school conference for high school senior; nearing the end of these things!
[14:14] {peterg} make money & have fun
[14:14] {Threei}  take care peter
[14:14] {peterg} bye
[14:17] {dino} cya
[14:21] {Threei}  DEYS becomes a bounce candidate
[14:22] {Threei}  DRYS
[14:22] {Threei}  off 9.50 support with market help
[14:24] {Threei}  finger on the trigger
[14:24] {Threei}  first strength
[14:24] {Threei}  in
[14:24] {Threei}  stop under .30
[14:24] {Threei}  don't touch it if not ready for a few tries
[14:25] {Threei}  no go
[14:27] {Threei}  atempt #2 is coming
[14:36] {dino} afam hl l .50
[14:43] {Threei}  market just can't find footing
[14:43] {patience} office punch bowl must be spiked
[14:45] {lisa_jay} very strong selling
[14:45] {Threei}  with no news
[14:45] {lisa_jay} next week options expiry
[14:45] {KSystems} they've run out of bad news
[14:45] {KSystems} must be a bad sigh
[14:45] {Threei}  lol
[14:45] {KSystems} sign
[14:47] {dino} afam stopped sheesh
[14:49] {Threei}  one more leg down it seems
[14:55] {Threei}  been quite a while since we've seen such string selling
[14:55] {Threei}  strong
[14:55] {lisa_jay} yup
[14:55] {Geo} just when we were forgetting it
[14:56] {Geo} lets all thank jamie dimon
[14:56] {Threei}  what did he do?
[14:56] {Geo} Trading loans and high yields and mortgages; seeing constant credit deterioration, probably worse than they had expected
[14:56] {Geo} said this on cnbc
[14:57] {Geo} Said November has been a difficult month and it will be a tough Q4... December is 'doing pretty terrible', worse than expected
[14:57] {lisa_jay} We might get a gap fill Dino?
[14:58] {dino} got it 8635
[14:58] {dino} s&p filling
[14:59] {lisa_jay} nasdaq
[14:59] {wishbone} what is ticker for s&p in laser?
[14:59] {Threei}  bounce time
[14:59] {dino} spy
[14:59] {Threei}  "/sp8z"
[15:00] {Geo} today thurday probably switch to 9H
[15:00] {Threei}  oh yes
[15:00] {Threei}  forgetting rollover
[15:00] {lisa_jay} what are you looking for bounce Vad?
[15:01] {Geo} what bounce heheheheh\
[15:01] {Threei}  you sure you need this excitement lisa? :)
[15:01] {lisa_jay} :-)
[15:01] {wishbone} ty dino....vad /sp8z entered in trading settings doesn't work for i need to pay
[15:01] {Threei}  if yes, DRYS would be my preference
[15:01] {Threei}  it's a CME feed
[15:02] {wishbone} ok ty vad
[15:02] {Threei}  if you don't have it, you won't see those
[15:03] {Threei}  ok, if I can get DRYS at 8 I'll be all over it :)
[15:06] {Geo} all over it hmmmmmm
[15:08] {lisa_jay} Geo, not so inside a day anymore...sigh.
[15:08] {Threei}  missed it under .40... grrr
[15:20] {Threei}  8.75 break
[15:20] {Geo} stop vad?
[15:21] {Geo} below 60
[15:21] {Threei}  under .65 or .60
[15:21] {Geo} sorry .65
[15:25] {Threei}  half out
[15:25] {Threei}  .84
[15:26] {Threei}  out in full .93
[15:27] {lisa_jay} 18c Thanks Vad.
[15:27] {Threei}  welcome
[15:28] {wishbone} +18 ty vad
[15:28] {Threei}  :)
[15:34] {dino} gj
[15:34] {Threei}  what a reletnless selling
[15:34] {lisa_jay} Vad, how to determine if this is a double bottom on q's or not?  Thanks.
[15:35] {Threei}  doesn't look like one
[15:36] {Threei}  it may very well hold this support but I am not jazzed about buying here
[15:36] {Threei}  rather feels like more downside to me
[15:37] {lisa_jay} Ok, thanks.
[15:39] {dino} same feeling
[15:39] {dino} going for -300+
[15:39] {patience} tsx -302
[15:39] {peterg} back for close
[15:40] {peterg} in anything?
[15:40] {Threei}  not at the moment
[15:41] {Threei}  some stops some scalps while you were out
[15:41] {Threei}  nothing outstanding
[15:41] {Threei}  -249 Dow
[15:41] {Threei}  hello afternoon selloffs, long time no see
[15:43] {dino} afam big old rinse
[15:46] {patience} hmm...slw salmon
[15:46] {dino} classic 3:40 bounce
[15:52] {peterg} well, my hopes for a profitable day are dashed
[15:52] {dino} me too peter
[15:52] {dino} we'll get 'em tomorrow
[15:52] {peterg} yep
[15:52] {Geo} you didnt take vads calls peter
[15:53] {peterg} are you strill on vadcontrol, geo?
[15:53] {peterg} I think I'll go there
[15:53] {Geo} i do stuff on side
[15:53] {Geo} but i am not in a position to refuse his calls yet :)
[15:53] {peterg} absolutely
[15:54] {peterg} in my ten year learning program, I am doing executions now for the next five years
[15:54] {Threei}  why would anyone want to do that
[15:54] {wishbone} good nite all
[15:54] {peterg} nite wish
[15:54] {peterg} do waht?
[15:54] {Threei}  I would understand if my calls sucked
[15:54] {lisa_jay} Bye Wishbone
[15:54] {Threei}  take care wish
[15:54] {Geo} if youre more experienced like dino you branch out
[15:54] {Geo} thats what i mean
[15:54] {wishbone} thanks again for the lesson on GG Vad and the great calls!
[15:54] {Threei}  :)
[15:54] {Threei}  it's not so much about experience
[15:54] {dino} lol geo, dino has been confused 
[15:55] {wishbone} bye lisa. peterg
[15:55] {Threei}  as it is about personal style and comfort zone
[15:55] {Geo} its a phase
[15:55] {dino} magoo kicking my azz last two weeks
[15:55] {Threei}  imagine yourself exprienced
[15:55] {Geo} now thats tough
[15:55] {Geo} lol
[15:55] {Threei}  would it mean you'd reject calls you find consistently profitable and matching your trading styule?
[15:55] {Geo} if i am in a postion and monitoring i might
[15:55] {peterg} time to expand trading style repertoire

[15:58] {Geo} did vad just kick me out?????????????????
[15:58] {peterg} whole room dumped
[15:58] {Threei}  all of ya
[15:58] {peterg} but you me & 3
[15:58] {Geo} just kidding
[15:58] {Geo} ok ok ill take all calls !!!!!!!!!!!!!!!
[15:58] {Threei}  consider it my revenge
[15:58] {peterg} this is the inner sanctum, geo, where vad and i make really big bux
[15:58] {Threei}  lol
[15:58] {Geo} nope i was kicked out
[15:58] {peterg} patience in
[15:58] {Geo} and just got in
[15:59] {Geo} good day vad
[15:59] {Geo} 2.5x
[15:59] {peterg} many are called but few are chosen
[15:59] {Threei}  there
[15:59] {Geo} thanks a lot..... some mine
[15:59] {Threei}  and you are unhappy
[15:59] {patience} gorgeous day vad...time for a hike around the lake
[15:59] {Geo} hey when did i say that?
[15:59] {Threei}  even if you didn't I need an excuse for a slap
[16:00] {Geo} [12:57] {Geo} you didnt take vads calls peter
[16:00] {Threei}  on second thought... why do I need excuse
06[16:00] * Threei slaps Geo around a bit with a large roll of cash
[16:00] {Geo} ahhhhhh
06[16:00] * Geo slaps Threei around a bit with a large gold bar
[16:00] {Geo} feel the love !!!!
[16:00] {Threei}  not sure about lake
[16:00] {dino} gj geo, 3i
[16:00] {Threei}  ty dino
[16:01] {Threei}  ok guys, have a great evening
[16:01] {Geo} dino not that i am in a position to give pointers.....
[16:01] {Threei}  see you tomorrow
[16:01] {dino} i vow to do better tomorrow
[16:01] {Geo} but watching ZB for tells has helped me a lot
[16:01] {peterg} u2 vad, geo patience elepet dino
[16:01] {peterg} and lisa
[16:01] {Geo} i could give you atleast 3 charts where they are early by a min
[16:02] {patience} i'm watching silver wheaton wants to pop
[16:02] {dino} geo, what is zb?
[16:02] {Geo} future 30 yr bond
[16:02] {dino} i am using tbt, tlt
[16:03] {Geo} i find it lagging
[16:03] {dino} ok, 20 year the others
[16:03] {Geo} zb runs first
[16:03] {dino} thx
[16:06] {lisa_jay} Thanks Vad.