Tuesday, May 19, 2009

May 19 2009

Not much happened for the day as a few nice wins were balanced out and slghlty overcome by stops. A lot of churning in the market

Session Time: Tue May 19 00:00:00 2009

[08:13] {magoo} morning 
[08:13] {nemo} hi mags
[08:15] {magoo} nemesis:)
[08:15] {nemo} mags dcc
[08:16] {magoo} nope lol
[08:17] {nemo} expensive?
[08:20] {ese} good morning
[08:20] {nemo} hey essay
[08:21] {ese} nemo....how it goin
[08:21] {nemo} breathing...pulse...coffee...bagel...so far so good
[08:22] {ese} too funny.......i hear ya
[08:22] {nemo} ran out of vodka last night though
[08:23] {ese} have vad fly some in......it's part of this service i think
[08:23] {nemo} didn't know that...hey VAD!!!
[08:30] {nemo} vad, news on EJ?
[08:31] {ese} what ej nemo
[08:31] {ese} whats
[08:31] {nemo} earnings release it popped big this morning
[08:33] {patience} good morning guys  :)
[08:34] {ese} morning patience......
[08:34] {ese} it's raining over here by the water
[08:34] {patience} stopped here, will be running in an hour so make it stop there ese    :)
[08:35] {ese} was gonna say....still going out for a run
[08:35] {Threei}  Good morning
[08:35] {ese} will do.....your wish is my command
[08:35] {Threei}  05/19/09 06:40am
[08:35] {Threei}  [EJ] E-House China Holdings - ADS Reports Q1 $0.11 v $0.05e (ex items), R $32.8M v $32.2Me
[08:35] {Threei}  - Guides Q2 Rev $49-51M v $38.3Me
[08:35] {ese} morning vad
[08:35] {patience} yup, down 64 pounds now ...one year anniversary yesterday
[08:35] {ese} thats fabulous
[08:35] {ese} any particular diet
[08:36] {patience} ty, and none...just walking or running every day
[08:38] {ese} Ok ....rain has now stopped patience.....your all clear here...birds chirping...what else would you like
[08:38] {patience} winning trades while i'm out exercising   :)
[08:39] {ese} OHHHHHH VADDDD?  patience would like............
[08:39] {Threei}  FAS is dropping fast
[08:40] {nemo} saw that
[08:40] {ese} is it ever
[08:41] {nemo} wow CEO up almost 30%
[08:41] {ese} ii don't see any news anywhere
[08:41] {nemo} it's the Chinese oil company
[08:42] {ese} hmmm130 to 158
[08:42] {nemo} probably reaction to India yesterday and  the breaching of the $60/barrel today
[08:43] {ese} now quoting 131 to 137....recipe for loosing money
[08:43] {nemo} yeah...great to be an investor
[08:48] {ese} don't know if anyone has asked this but....FAZ is bound to hit "0"    what happens when that happens...re calibrate that index??  set it higher??
[08:49] {nemo} world ends
[08:49] {ese} ahhhhhh
[08:49] {cosmo} the end of the dollar?
[08:49] {ese} Does that index cease to exist?
[08:49] {nemo} I don't know the exact mechanics, but these ultra etfs are recalibrated every night
[08:50] {ese} every night?   how so and why?   i don't understand
[08:51] {nemo} They're designed as short-term trading vehicles.  I don't understand the exact mechanics, but that is what happens
[08:51] {ese} as hedges against existing positions
[08:52] {ese} like trading the S&P futures i would imagine
[08:53] {nemo} that would make sense.  They hold a combination of underlying stocks and options on those stocks.  I'm not sure any of these can go to zero.  It's probably an asymptotic dynamic as you get closer to zero.  Also, volatility, or lack there of is a factor in the price of the issue because volatility affects the price of the options
[08:55] {dptl} good morning all
[08:55] {Threei}  dp :)
[08:55] {ese} morning dp
[08:55] {pita} greetings everyone
[08:55] {nemo} dp pita
[08:56] {ese} pita
[08:56] {Threei}  pita :)
[08:57] {Threei}  DRYS
[08:57] {ese} i like this...drys taking off
[08:58] {Threei}  - CEO: "We are delighted to have reached an agreement with DnB NOR on yet another facility. This facility covers 2 of our drybulk vessels. We continue to have constructive discussions with the remainder of our banks who are all very supportive of the company."
[08:59] {ese} I like it ....still have a swing position from yesterday
[08:59] {Threei}  neds to break .40
[08:59] {ese} yes
[09:00] {ese} a few of the other bulk cariers following as well .....egle
[09:02] {jfjf64} mornin all
[09:02] {nemo} jf
[09:02] {ese} jf
[09:03] {Threei}  morning jf
[09:07] {Threei}  EGLE took sizeable offer
[09:08] {fernp} Good morning everybody
[09:08] {Threei}  fern :)
[09:17] {ese} dry bulk carriers and solar...flavor of the day for the market looks like
[09:20] {cosmo} tell that to JASO
[09:20] {dino} gm all
[09:20] {ese} I take it back 
[09:21] {ese} dino
[09:21] {Threei}  dino :)
[09:21] {nemo} dino
[09:21] {dino} :)
[09:23] {Threei}  DRYS buying looks quite sustainable
[09:24] {Threei}  if gives opening pullback I'll be interested
[09:24] {dino} turnaround tuesday?
[09:25] {nemo} we had this conversation yesterday
[09:25] {Threei}  if no pullback, hopefully we et consolidation and break
[09:26] {Threei}  EGLE is quite capable of serious move as well, juts much thinner
[09:26] {ese} am thinking about a position there vad
[09:26] {dino} neg. day does it
[09:26] {Threei}  volatile one, don't go crazy on size
[09:27] {ese} will do
[09:28] {Threei}  much better player on pullbacks vs breakouts
[09:28] {chinggis} gm
[09:28] {Threei}  chnggis :)
[09:28] {dino} beat
[09:31] {Threei}  EGLE
[09:31] {Threei}  hitting support zone
[09:31] {Threei}  half lot long
[09:31] {Threei}  sheesh
[09:31] {Threei}  no chasing
[09:32] {Threei} Long Setup:  DRYS  .43 if stays above .35
[09:32] {dino} fri gaps 8268, 1355, 882 fwiw
[09:33] {Threei}  invalidated
[09:35] {ese} yes
[09:35] {nemo} fitb again?
[09:35] {Threei} Long Setup:  DRYS  .30 break half lot
[09:35] {Threei}  if stays above .20
[09:35] {Threei}  sorry
[09:35] {Threei}  that was EGLE
[09:36] {Threei} Long Setup:  EGLE  .30 break half lot
[09:36] {dino} beat
[09:37] {ese} drys covering gap from 05/08 .62 low
[09:37] {Threei}  DRYS, have to wait for pullback
[09:37] {magoo} in
[09:37] {Threei}  .40 area
[09:37] {dptl} in
[09:37] {nemo} in
[09:38] {Threei}  DRYS says what pullback?
[09:38] {nemo} 1/2 out
[09:39] {Threei}  has this feel of a big runner
[09:39] {dptl} half out egle
[09:40] {Threei}  if takes .50, 8 is not out of question
[09:40] {magoo} out EGLE .38
[09:40] {chinggis} out full 41 ty
[09:40] {magoo} ill reload if.
[09:41] {ese} drys could do $9.00 today....analysts targets
[09:41] {dptl} trailing under .30
[09:41] {dptl} balance
[09:42] {magoo} frustrate if cant get in'
[09:43] {Threei}  DRYS pullback
[09:43] {nemo} out egle
[09:43] {Threei}  closer to .50 should be an entry zone
[09:44] {dptl} all out egle ty
[09:44] {Threei}  let's see if there is another play in it
[09:45] {Threei}  DRYS .60 break
[09:45] {Threei}  if stays above .50
[09:45] {nemo} half or full
[09:45] {Threei}  10 cents stop?
[09:46] {nemo} o.k.
[09:46] {dptl} in
[09:46] {nemo} in
[09:48] {magoo} ya in
[09:49] {magoo} EGLE interseting
[09:49] {Threei}  - according to CNBC, historically the S&P has gained an average of 3% and 6% respectively over the 3 and 6 months that follow a crossover below 30.
[09:49] {Threei}  - the peak in late Oct was at 89.53.
[09:49] {magoo} in egle too .31
[09:50] {Threei}  hte these shakeouts in the market
[09:50] {Threei}  wants to go up badly
[09:50] {Threei}  just gop
[09:51] {wulff} yes gop right now
[09:51] {magoo} i know
[09:54] {Threei}  sigh
[09:54] {dptl} stopped
[09:54] {magoo} jesus
[09:56] {Threei}  EGLE is holding better than DRYS so far
[09:56] {ese} indeed
[09:57] {magoo} DRYS sucks everyday
[10:02] {nemo} s drys .19
[10:03] {dino} qsii
[10:06] {nemo} i lie short egle
[10:07] {chinggis} any read on HBAN vad?
[10:07] {magoo} BAC strong
[10:07] {Threei}  should follow FAS
[10:07] {chinggis} ok ty
[10:08] {Threei}  I'd try .90 break
[10:08] {ese} as was about to say nemo should have been .30  for the short if it was drys
[10:08] {nemo} typing skills
[10:08] {chinggis} ok
[10:08] {dino} sm l pnra .50
[10:08] {magoo} in hban
[10:09] {chinggis} l hban .91
[10:09] {Threei}  BAC seems to be today's hero among finnies
[10:10] {Threei}  pullback closer to 12 should be entry
[10:11] {nemo} stopped egle
[10:14] {dino} pbh
[10:17] {Threei}  DND actitivity all of a sudden
[10:18] {Threei}  DNDN
[10:18] {nemo} wow
[10:18] {Threei}  no news that I see
[10:20] {dino} snda
[10:22] {Threei}  anyone got BAC near 12?
[10:23] {magoo} im waiting .98 HBAN
[10:24] {magoo} i like BAC
[10:24] {magoo} not in
[10:24] {magoo} EGLE trying
[10:25] {Threei}  yeah
[10:25] {Threei}  I really hate this lack of follow through
[10:25] {magoo} my nemesis should
[10:25] {Threei}  both DRYS and EGLE had total makeup of runners
[10:25] {wulff} Egle is doing OK
[10:26] {magoo} ouyt .98 TY vad HBAN
[10:26] {Threei}  a lot of little buggers?
[10:26] {dino} afam sm l .91
[10:26] {magoo} 2k
[10:26] {Threei}  HBAN is new FITB
[10:26] {ese} gj mags
[10:26] {ese} yes
[10:27] {ese} sems to trade the same 
[10:27] {magoo} EGLE nears ,50
[10:27] {dino} pbh sm l .35
[10:28] {Threei}  EGLE already has almost whole yeasterday's volume
[10:28] {wulff} f---in FAS
[10:28] {jfjf64} wow fas
[10:28] {magoo} FAS missed
[10:28] {chinggis} out hban .02
[10:28] {chinggis} ty vad
[10:28] {dino} pnra stop to .20
[10:28] {Threei}  sure
[10:28] {dino} out +.70
[10:29] {magoo} bacon alert
[10:29] {magoo} BAC
[10:30] {Threei}  BAC entry on pullback near 12 would have been perfetc
[10:30] {Threei}  not a fan of breaks on this stock
[10:30] {dino} intc l .49
[10:31] {Threei}  EGLE has 8 written all over it
[10:32] {ese} dino was that pbh you did .70 on?
[10:32] {nemo}  {dino} pbh sm l .35
[10:32] {nemo} [10:28] {dino} pnra stop to .20
[10:32] {nemo} [10:28] {&Threei}  sure
[10:32] {nemo} [10:28] {dino} out +.70
[10:32] {ese} your out ?
[10:33] {ese} tks was just looking at it 
[10:34] {Threei}  - Reminder: on 5/15 CNBC reported that GS and JPM were to be among the first major banks to be granted persmission to repay tarp as early as this week{XLF GS MS JPM}
[10:34] {dino} yes out
[10:35] {dino} no, pnra .50 to .20, +.70
[10:35] {dino} fast as fast can be es
[10:35] {dino} pbh still in, as well as afam
[10:36] {ese} tks.....i'm studying
[10:36] {dino} pbh making me thirsty, thinking of pbr's
[10:37] {ese} yuk yuk
[10:37] {ese} I think vad delivers vodka .....it's part of the service being on this board
[10:37] {dino} pbr light not too bad on a hot day actually
[10:38] {magoo} no quotes on PBR dino
[10:39] {dino} 16.50 for 30 pack
[10:39] {ese} good on ya if it's hot down there......it ain't here.....rain
[10:39] {dino} going for 80 today, last night frost, wierd lately, running 6 degrees below normal in may
[10:40] {ese} climate change
[10:42] {Threei}  HBAN pullback into support
[10:42] {Threei}  watch FAS for possible spike
[10:42] {Threei}  HBAN tends to give the delay for entry
[10:43] {dino} afam to .28
[10:43] {dino} expect slip
[10:44] {dino} out .26, 
[10:44] {dino} +.35
[10:45] {Threei}  I can't think of anything more stupid and untimely
[10:45] {Threei}  http://www.nytimes.com/2009/05/19/business/19credit.html?_r=2&hp=&adxnnl=1&adxnnlx=1242741983-+CW9ZWUo9Zrdgq78v3yNLQ
[10:45] {Threei}  n wait... I can...
[10:45] {ese} good one dino
[10:45] {dino} ty
[10:47] {dino} 11 straight days up/down/up/down, will it continue
[10:48] {Threei}  EGLE ast yesterday's volume
[10:48] {magoo} u in it?
[10:49] {Threei}  no... trying to determine possible entry
[10:49] {Threei}  possibly even for a swing
[10:52] {wulff} BAC fast selling
[10:55] {Threei} Long Setup:  FAS  .56
[10:55] {Threei}  if stays above .50
[10:59] {Threei}  HBAN stopped dropping with FAS
[10:59] {Threei}  .96 worth a try if FAS spikesa
[11:00] {Threei}  try to get last shares, don't be first to buy
[11:02] {nemo} Magooing it
[11:02] {Threei} Long Setup:  FAS  .50 if not losing .45 anymore
[11:03] {Threei}  in HBAN aggressively .94
[11:03] {dptl} in fas
[11:03] {magoo} in .95
[11:04] {fernp} stop under .90, Vad?
[11:04] {Threei}  yeah
[11:05] {dptl} stopped fas
[11:05] {Threei}  games are not over...
[11:05] {Threei}  HBAN no worky too
[11:06] {fernp} out HBAN
[11:06] {Threei}  backing off, it starts looking like shakeouts all over, just like yesterday
[11:09] {Threei}  BAC quite a selloff
[11:09] {magoo} READ on EGLE
[11:10] {Threei}  same... overall, it's a swing trade candidate for a storng upward move
[11:10] {Threei}  exact entry - can't find it so far
[11:11] {magoo} dont like the swing call
[11:11] {magoo} i dont hold 
[11:11] {nemo} you don't swing and you don't hold?
[11:11] {wulff} keep your eye on CNB
[11:11] {dino} enoc
[11:11] {Threei}  market continues dropping... what i is it you want me to do? :)
[11:12] {nemo} use the force Vader
[11:12] {nemo} Oh shit, my RAM monitor is at 666
[11:12] {Threei}  in my eyes, these market retreats are nothing but pullbacks bfore another runup
[11:13] {dino} ceph
[11:13] {fernp} DRYS double bottom
[11:13] {Threei}  but atempts to find the entry points were quite futile yesterday and, so far, today
[11:13] {Threei}  gotta take it on faith, which I hate
[11:13] {jfjf64} my eyes  black  and  blue
[11:15] {jfjf64} comon a joke    lol  lol    
[11:15] {Threei}  we are obviously going through some change in the market
[11:15] {nemo} I"n your eyes, the light the heat"
[11:15] {Threei}  a few days at the beginning of such changes are always tough,
[11:15] {Threei}  as old methods stop working,
[11:16] {Threei}  new ones are not found yet
[11:16] {nemo} switch to summer but volumes this morning are reasonable
[11:16] {Threei}  this is not a switch to summer
[11:16] {Threei}  this is witch in market mood
[11:16] {Threei}  amajor mode I would say
[11:16] {chinggis} any read on SKS vad?
[11:17] {Threei}  not really...
[11:18] {chinggis} ok ty
[11:19] {ese} have to go teach a class....see you in about an hour or so
[11:20] {Threei}  take care ese
[11:24] {dino} mako
[11:24] {dino} thin
[11:26] {dino} thor
[11:26] {dino} ceph sm l .20
[11:27] {dino} where do all of these people go away too?
[11:28] {nemo} seeing dead people again?
[11:28] {Threei}  what people?
[11:28] {Threei}  let's see:
[11:29] {chinggis} GIL
[11:29] {Threei}  if today is repeat of yesterday, and so far it looks very similar,
[11:29] {Threei}  we will bottom out after a few shakeouts
[11:29] {nemo} fas scalp @ 3:30
[11:29] {Threei}  and resume runup
[11:29] {Threei}  problem is, attempts to find the turning point have no technicals under them,
[11:30] {Threei}  so there is no way to tell just how many shakeouts we get inti
[11:30] {Threei}  that's what killed yesterday
[11:30] {dino} lol nemo
[11:30] {Threei}  so, the question you need o answer for yourself is:
[11:30] {Threei}  continue trying or wait the whole thing out
[11:30] {nemo} do you feel lucky?
[11:31] {nemo} sorry, "Do you feel lucky, punk?"
[11:31] {dino} the way i see it is simple....they got it, i want it
[11:31] {Threei}  if former, EGLE .30 break
[11:32] {Threei}  FAS pullback under .30
[11:32] {nemo} nice segue Vad
[11:32] {dino} v bounce
[11:33] {Threei}  HBAN with stop under .80
[11:33] {Threei}  all those are your trades if your pick is to try
[11:33] {dino} aipc pop
[11:35] {Threei}  DRYS .26
[11:35] {Threei}  game plan:
[11:36] {Threei}  those who went for EGLE, stop under .20, aim to sell half closer to .50
[11:36] {dino} v sm l .00
[11:36] {Threei}  hold half for break
[11:36] {Threei}  if you are a purebreed scalper, you know what to do without my narrative
[11:37] {nemo} stop for drys
[11:37] {Threei}  HBAN, aim to sell half between .95 and 5
[11:37] {Threei}  DTYS, either undcer .20 or under .15, depending on your objectives
[11:37] {nemo} what if you're a braindamaged mutt?
[11:38] {Threei}  profit taking on DRYS is between .35 and .40 for the first half
[11:40] {dptl} in drys
[11:43] {nemo} egle strong drys not
[11:43] {dino} intc stop to .58
[11:43] {Threei}  DRYS should change its way after .30 break
[11:44] {nemo} Wayward Son
[11:44] {magoo} drysalways trades exactly like today...big moves beyond reason..terrible pullbks..endless hours of nada...then when u give up..BOOM
[11:45] {Threei}  EGLE is at first target
[11:45] {nemo} "Every time I try to get out they pull me back in"
[11:45] {dino} out intc .60, +.11
[11:45] {magoo} EGLE better of 2 for sure..in it too vad
[11:48] {magoo} crazy,,never heard of u cant pay it back
[11:48] {Threei}  if you owe me and I want control over you... I want you to keep moneyrather than to pay me back
[11:48] {Threei}  you paid back, you are free
[11:50] {Threei}  let's see EGLE
[11:50] {Threei}  this time or not yet?
[11:50] {chinggis} EGLE break of hod buyable vad?
[11:51] {Threei}  usually this one if much better on pullbacks
[11:52] {Threei}  that's qwhy I called it off .30 rather than .50
[11:52] {Threei}  however, next try will be what, 4th one for today?
[11:52] {Threei}  odds of it working are on increase
[11:53] {chinggis} TY vad
[11:54] {Threei}  what, shakeouts are not over yet?
[11:55] {nemo} just going to lunch
[11:58] {Threei}  ASIA?
[11:59] {Threei}  no news that I see
[11:59] {dino} ceph stopped .89, -.31
[12:05] {dino} apol sm l .20, jumpy
[12:08] {nemo} gonna' hang around Dino?
[12:08] {dino} no
[12:09] {dino} waiting at .60
[12:09] {dino} just missed
[12:09] {vinod} good afternoon
[12:09] {dino} sm l enoc .20
[12:10] {dino} vin:)
[12:15] {chinggis} Vad SKS pullback playable?
[12:16] {dino} apol to .29
[12:16] {Threei}  around 5.05, I'd think so... but this one is verty hard to read, trades with weird pace
[12:16] {chinggis} ok ty
[12:19] {Threei}  market starts giving confirmation of reversal
[12:19] {Threei}  so far same scenario as yesterday
[12:19] {dino} itri
[12:20] {Threei}  Prez on TV shortly, to announce "kill the car" plan
[12:20] {magoo} and kill the mkt
[12:23] {dino} apol to .39 mkt dropping
[12:25] {dino} to .50
[12:25] {Threei}  new highs are coming
[12:25] {dino} to .60
[12:25] {dino} out +.40 apol
[12:25] {Threei}  nice one
[12:26] {dino} ty
[12:26] {dino} nemo, you get it?
[12:27] {nemo} no...I saw that long line of green and went yellow
[12:28] {dino} yeah, it was questionable
[12:29] {dino} you get enoc?
[12:31] {Threei}  NQ, last pullback and then off to races
[12:32] {dino} snda
[12:32] {dino} itri gap above around 58
[12:33] {Threei}  hmm
[12:33] {Threei}  increased cost of vehicle will pay off in three years on fuel savings, according to president
[12:34] {Threei}  maybe if I am driving a taxi
[12:34] {Threei}  on private vehicle with normal mileage, no way
[12:34] {Threei}  here is pullback
[12:36] {dino} enoc stop to .63\
[12:36] {nemo} oh, sorry dino, away for a minute, no enoc, kinda' thin for me
[12:36] {dino} vrts
[12:37] {dino} out enoc ave .66, +.46
[12:39] {Threei}  {AXP COF DFS JPM C}
[12:39] {nemo} yeah, they fubar that one
[12:45] {nemo} enoc dino
[12:46] {dino} ntrs drop
[12:47] {ese} yo ho ho and a botle of vodka......     hmmmmm somethin not right about that
[12:47] {ese} i'm back
[12:47] {dino} well, you're married so the ho is out
06[12:48] * nemo slaps ese around a bit with a large chart of jesu joy of man's desiring :)
[12:48] {nemo} whoa dino
[12:48] {dino} no, i mean no ho's, he has a wife
[12:49] {dino} as soon as i typed i knew it was going to be misunderstood
[12:49] {nemo} I understood quite well, usually after an extended period of marriage, they return
[12:49] {dino} roflol
[12:50] {Threei}  janitor's ears perk
[12:50] {nemo} I have many married friends
[12:51] {fernp} stopped DRYS
[12:51] {dptl} stopped drys
[12:52] {nemo} yeah
[12:53] {nemo} so many stops, so little vaseline
[12:53] {ese} huh?
[12:53] {nemo} huh what?
[12:53] {ese} just huh?
[12:54] {nemo} oh
[12:54] {ese} vaseline?
[12:54] {nemo} had 7 or 8 stops since yesterday...pain
[12:54] {Threei}  sheesh... dialogs right out of asylum
[12:55] {nemo} Anybody ever seen The Ninth Configuration?  speaking of asylums
[12:55] {ese} nope
[12:56] {nemo} http://www.imdb.com/title/tt0081237/
[12:57] {dino} nope
[12:57] {dino} but my office feels like an asylum some days
[12:58] {nemo} very good
[12:58] {dino} itri approaches hod
[12:58] {nemo} sounds like a line out of a sci fi movie
[12:59] {dino} as "land of confusion" comes on
[13:00] {nemo} No one gets out alive
[13:00] {dino} v to .85 won't move
[13:01] {dino} ceph one more whoosh down imo
[13:02] {dino} darn enoc, kept going
[13:03] {nemo} yes
[13:03] {lamant} soory ,i hit erro
[13:04] {nemo} Drys Vad?  looks like bottoming?
[13:05] {Threei}  everfything to me looks this way...
[13:05] {Threei}  my problemn is different
[13:05] {Threei}  as I described it before
[13:05] {dino} v stopped -.15
[13:05] {Threei}  attempts to catch the turnaround take many small cuts
[13:05] {Threei}  they are small but they are many
[13:05] {nemo} Yes.
[13:06] {Threei}  that's why I made a point to present it as discretionary decision
[13:06] {nemo} yes
[13:06] {Threei}  either try when it starts turning around and be ready to take those cuts,
[13:06] {Threei}  or sit it out until market finalizes changes and we get firm read on it again
[13:07] {Threei}  as a ray brightening the day, just got this e-mail:
[13:07] {nemo} still in the middle of lunch too
[13:07] {Threei}  Vad,
[13:07] {Threei}  Just wanted to say again how grateful I am for your program. I've been going with the program and my plan, adjusting it as I go, and it just works! I don't even worry about things anymore, I just trade my plan. Yes at times I take some losses, but I actually seem to love those small losses, and that is weird, compared to previous state I used to have.
[13:07] {Threei}  The gains are much larger and without worries that I used to have. I haven't been able to get to this state of mind and these kinds of results with any other system or educational materials. You seem to have touch on the perfect points that made it click for me!
[13:07] {Threei}  I really appreciate it!
[13:07] {Threei}  I skip the name
[13:08] {dino} very nice vad, good job
[13:09] {Threei}  yeah, this kind of things makes me feel I do it for some good purpose
[13:09] {nemo} Hey, I only take paper cuts now compared to before coming here.  
[13:09] {dino} itri spikes again
[13:09] {nemo} did they have earnings today?
[13:10] {nemo} Plus, the structured exits keep my greed from losing me more
[13:11] {nemo} Although, I'm not sure you're supposed to have this much fun
[13:11] {dino} then get mad
[13:11] {Threei}  see, main thing is:
[13:11] {nemo} Dino...in my other pursuits when I'm mad, I'm having fun
[13:12] {Threei}  most of you here watch me doing it for years, some for months
[13:12] {nemo} I tracked your daily log for a looong time
[13:12] {Threei}  anyone saw a setback I wouldn't recover from in just a few days?? :)
[13:13] {nemo} No...what amazed me was the run from last Summer through the end of the year.
[13:13] {Threei}  just don't take any of those as more than pullback
[13:13] {fernp} nope
[13:13] {Threei}  nothing happens without pullbacks, setbacks, retreats
[13:13] {magoo} HEY..i askeed u not topost that he  he
[13:14] {Threei}  no trend goes without pullbacks,
[13:14] {nemo} what? pictures of Mags? now that's pornography
[13:14] {Threei}  no good runs occur without bad days
[13:14] {Threei}  yin and yang anyone?
[13:14] {nemo} It ain't about the celebrating, it's what you do when you get knocked down
[13:14] {Threei}  oneness of opposites?
[13:14] {Threei}  excatly
[13:15] {Threei}  you shrug, dust yourself off and go kick a$$
[13:15] {nemo} Don't know what good is unless you have bad by which to measure it
[13:15] {Threei}  there you go
[13:16] {Threei}  this is so ingrained, I don't even see the need to talk about it to say honestly,
[13:16] {Threei}  but when you guys start crying about couple days of stops
[13:16] {nemo} For you yes, although, repetition is the mother of all teaching
[13:16] {Threei}  I start feeling like giving lecture
06[13:16] * nemo crawls into his cave
[13:16] {Threei}  because I know magoo hates hose
[13:17] {Threei}  and I enjoy making him suffer
06[13:17] * nemo closes door
[13:17] {Threei}  and no magoo, that was not your e-mail
[13:17] {magoo} yes it was
[13:17] {Threei}  yours I wouldn't dare to quote for the world of me
[13:17] {magoo} edited of course
[13:17] {Threei}  they are full of swearing, links to porno sites etc
[13:17] {Threei}  NASDAQ has finished pullback, returned to high
[13:17] {Threei}  break amnd new highs are in order
[13:18] {Threei}  if you like the formation,
[13:18] {Threei}  QDL
[13:19] {Threei}  C&H
[13:19] {nemo} qld?
[13:19] {Threei}  .40 break
[13:19] {Threei}  QLD, sorry
[13:19] {ese} I'd like to second that sentiment from the email Vad......I'm having the best tradin year of my life also tks
[13:19] {Threei}  thank you ese
[13:19] {nemo} ese been the man
[13:20] {Threei}  new highs
[13:21] {Threei}  [12:31] {Threei} NQ, last pullback and then off to races
[13:21] {Threei}  [12:32] {dino} snda
[13:21] {Threei}  scalpers get out heere
[13:22] {Threei}  day traders take half
[13:22] {dino} es great to hear, you're an animal lately
[13:23] {dino} idcc l .25
[13:23] {Threei}  daytraders, 1/4 more out
[13:23] {nemo} whoa things really taking off 
[13:24] {ese} tks but still have a ways to go.......once i stop the goofy/dumb errors....who knows
[13:24] {Threei}  yesterday's scenario plays out, just as we suspected
[13:24] {nemo} well, ese, you have an excuse, you're a musician.  I on the other hand, have none. :)
[13:27] {dino} sm risky s itri .01
[13:28] {nemo} stop to .70 on itri Dino?
[13:28] {dino} .51
[13:29] {dino} short
[13:29] {nemo} hasn't broken it's 200 all day, and that is .70 just letting you know
[13:29] {Threei}  last portion QLD: stop to .55
[13:30] {Threei}  feel free to exit above .70
[13:30] {Threei}  out .73 in full
[13:30] {Threei}  +.30
[13:30] {Threei}  something ought to work sooner or later, right?
[13:31] {nemo} patterns have been the same forever
[13:31] {dino} stopped -.46
[13:31] {Threei}  - Recession to last several more months; consumer spending is stabilizing
[13:31] {Threei}  - Notes that an economic recovery would reduce risks of deflation; healthy growth to resume in mid 2010
[13:31] {Threei}  - Financial conditions improving on a broader basis
[13:31] {Threei}  lol, :consumer spending is stabilizing"...
[13:31] {Threei}  it very well may be,
[13:31] {Threei}  but let's kill credit cards now,
[13:31] {nemo} yeah, can't go below 0
[13:31] {Threei}  then increase taxes on energy
[13:32] {Threei}  then make cars more expensive
[13:32] {nemo} nice on inri Dino
[13:32] {Threei}  and rise taxes on fuel to make buying them more justified
[13:32] {nemo} Oh jeez, that's funny...itri
[13:32] {dino} ok nemo, around 58.60 if it gets there
[13:32] {Threei}  and let's see what happens to consumer after all that
[13:32] {nemo} Hah, just called you King of the Jews
[13:33] {nemo} In that new credit card bill, they are not reigning in interest rates
[13:34] {dino} nemo s=short, got stopped itri
[13:34] {nemo} oh you went short, missed that
[13:37] {ese} me thinks what happens with drys alot is that the big boys see a stock that they can beat the VWAP alot with.   It's daily 1min seems to look like that alot.    Me thinks that some of them should be WAPPED!
[13:37] {ese} VWAP( volume weighted average price) for those of you that don't know
[13:40] {_king} threei- how do you find your trades? curious b/c i can never find the breakouts like you 
[13:41] {magoo} vad, u like FAS for bounce?
[13:41] {Threei}  king, scanner
[13:41] {Threei}  http://realitytrader.com/iscan/
[13:42] {nemo} _king programmed scanner spits out stocks to look at according to Vad's criteria
[13:42] {nemo} Dino has his scanner for his style also
[13:42] {Threei}  mags... I do... I just am not sure about entry point
[13:42] {Threei}  .20 break looks like it from here
[13:43] {magoo} ok
[13:44] {dino} yes
[13:47] {Threei}  is it only me, or anyone else is getting this feeling of rally in the making?
[13:47] {nemo} talking about consumer spending: http://globaleconomicanalysis.blogspot.com/2009/05/effect-of-household-deleveraging-on.html
[13:48] {magoo} ive had it all day, but hasnt worked so far
[13:48] {dptl} so fas .20 long?
[13:48] {Threei}  this is what keeps me hesitant
[13:48] {Threei}  ready for papercuts dp?
[13:48] {magoo} i did fas
[13:48] {Threei}  then FAS .20 break
[13:48] {nemo} should have one more, but had the rally yesterday
[13:48] {Threei}  HBAN .80 break
[13:48] {magoo} EGLE
[13:48] {nemo} in
[13:49] {nemo} stop on fas
[13:49] {Threei}  under .10 of course
[13:49] {nemo} around .10
[13:49] {Threei}  13:43, low of the last pullback
[13:50] {dino} sm l ceph .65
[13:50] {nemo} .11 low
[13:51] {nemo} in ceph
[13:52] {nemo} stop Dino
[13:53] {Threei}  shakes continue... that's tha painful part of this process
[13:54] {dino} .43
[14:03] {dino} out idcc .36, +.11
[14:05] {_king} got it, thanks guys!
[14:06] {nemo} dino, ceph get's by .70, should be good for a  bit
[14:06] {dino} y
[14:06] {nemo} ese, you in anything
[14:08] {ese} yup drys...from yesterday
[14:08] {ese} unloaded 1/2 on the runup this morning
[14:08] {nemo} she's been riding the range for a while
[14:09] {ese} still have 5k avg position .20 left....just kinda holdin on to it to see what happens
[14:09] {ese} it's getting itself into what Alaqn Farley calls the slingshot position
[14:09] {ese} Alan
[14:09] {nemo} Chuck U. Farley?
[14:10] {ese} indeed 
[14:11] {ese} anyway   ...outta here for today all...see ya tomorrow
[14:11] {Threei}  take care ese
[14:11] {ese} see ya vad
[14:13] {dino} cya es
[14:18] {dino} idcc l .40
[14:20] {magoo} a move may be starting vad
[14:21] {Threei}  missed QLD .60
06[14:24] * magoo slaps laserdave around a bit with a large trout
[14:24] {nemo} I was just going to tell you mags
[14:25] {laserdave} i love the attention
[14:25] {dino} snda
[14:26] {jfjf64} .20 break  fas
[14:27] {jfjf64} ?
[14:27] {magoo} its a valid play
[14:28] {jfjf64} ya wd think  shack out  comin ??
[14:28] {magoo} most likely:(
[14:28] {dino} idcc stop to .49\
[14:29] {jfjf64} im in
[14:29] {jfjf64} .22
[14:29] {magoo} .19 here
[14:30] {magoo} we need mkts to rip
[14:30] {nemo} or, we need to get the right shorts on a downdraft :)
[14:31] {Threei}  I don't see downdraft in cards nemo
[14:31] {Threei}  this market is getting ready to kill "short everything" crowd
[14:31] {magoo} do u see wealth vad?
[14:31] {jfjf64} up up and  away  
[14:31] {nemo} no, I was just commenting on Mags.  If it rips down and we're in the right shorts
[14:31] {Threei}  I stuill see 8 in the EGLE's future
[14:32] {Threei}  new highs for NASDAQ
[14:32] {jfjf64} kick it  mags
[14:34] {dino} out idcc .52, +.12
[14:35] {jfjf64} half out .26
[14:41] {nemo} mouse money
[14:43] {jfjf64} still in mags
[14:45] {Threei}  here it comes for you jf
[14:45] {magoo} out fas .29
[14:45] {magoo} DL
[14:46] {magoo} ty boss
[14:46] {Threei}  me?
[14:46] {Threei}  why?
[14:46] {magoo} u called ot
[14:46] {Threei}  you did this one on your own
[14:46] {jfjf64} all out  .29 
[14:47] {jfjf64} ty  vad   ty  mags
[14:47] {Threei}  QLD new high
[14:48] {Threei}  [14:32] {Threei} new highs for NASDAQ
[14:48] {Threei}  if you guys wanted to follow my general read with your own entries... this one was it
[14:50] {Threei}  lamborgini is the worts car to buy for fuel saving... 8 miles per gallon
[14:50] {Threei}  I wonder how many of its buyers give a damn
[14:50] {nemo} 0
[14:50] {jfjf64} hmm
[14:50] {nemo} less than 10, that means mags could count them
[14:50] {Threei}  Bentley buyers are not in a good shape either
[14:51] {Threei}  I can just see guy who owns both, looking at TV gal who said that saying:
[14:51] {Threei}  Frankly my dear...
[14:51] {nemo} jeez Rhett
[14:52] {Threei}  who is going to review Fed?
[14:54] {nemo} kick ceph for me vad, have to go soon
[14:54] {Threei}  which way?
[14:55] {nemo} up
[14:55] {jfjf64} think tm to short  hpq  buying all day   earnins later ??
[14:56] {Threei}  HPQ yes, earings after close
[14:57] {Threei}  there you go nemo
[14:57] {nemo} yeah, thanks Vad, look to get out even because I have to go.  Looks like it bottomed too
[15:04] {Threei}  remember or play a few weeks ago, FEED?
[15:04] {Threei}  our
[15:04] {nemo} vaguely
[15:04] {dino} zzzzzzzzzzzzzzzzzzzzzzzz
[15:04] {nemo} holy doodoo
[15:04] {dino} wynn l .10
[15:05] {dino} out .21, +.11
[15:05] {nemo} whoa, didn't even get to look
[15:06] {dino} lucky
[15:06] {nemo} easy for you to say...phhhht!
[15:06] {dino} had trouble w/.10 for aw(h)ile
[15:09] {nemo} dino?  why the h in parentheses?
[15:11] {nemo} stopped ceph
[15:12] {dino} ceph stopped -.22
[15:12] {dino} stewie/family guy
[15:15] {nemo} cyu guys done for the day
[15:15] {Threei}  take care nemo
[15:17] {dino} cya nemo
[15:29] {dino} bwld s .22
[15:31] {fernp} have to go. good evening all. see u tomorrow
[15:33] {Threei}  take care fern
[15:34] {dino} cov bwld .10, +.12
[15:36] {dino} cya fernp
[15:39] {dino} titn l .12
[15:39] {Threei}  DRYS stays flatlined around this level for good3-4 hours
[15:40] {Threei}  EGLE decided to do it tomorrow probably
[15:41] {chinggis} see you tommorow guys
[15:41] {Threei}  take care chinggis
[15:41] {dino} cya ching
[15:49] {dino} bwen
[15:50] {dino} wow don't know how but wynn took me out just now at .35, +.15
[15:50] {Threei}  yup, spiked to .17
[15:50] {dino} see that spike, lol
[15:51] {dino} whats w/bwen?
[15:51] {Threei}  no idea
[15:52] {dino} will watch it tomorrow
[15:52] {dino} same w/itri
[15:53] {Threei}  second day in a row of shurning and shaling out
[15:53] {Threei}  umm
[15:53] {Threei}  let's try again
[15:53] {dino} 12th day up/down
[15:53] {Threei}  churning and sjaking out
[15:53] {Threei}  sigh
[15:53] {dino} titn to b/e
[15:54] {Threei}  whatever, I give up... my fingers just can't seem to hit right keys
[15:54] {dino} out
[15:55] {Threei}  okay guys, taking that leftover of EGLE home
[15:55] {dino} well, up, but light
[15:55] {Threei}  thank you all,
[15:55] {Threei}  have a good evening
[15:55] {Threei}  see you tomorrow
[15:55] {dptl} have a good evening all
[15:55] {dino} at the risk of jinxing me, 22 in a row vad
[15:55] {Threei}  nice!
[15:56] {dino} cya dp