Friday, October 30, 2009

Oct 30 2009

Just as we thought, yesterday's strength turned out to be just a bounce. All trades worked well today, with beautiful QID setup which was explained in details starting at 11:00.

Session Time: Fri Oct 30 00:00:00 2009

[03:55] {KSystems} morning
[08:10] {Threei} US) Preview: Sept Personal Income and Personal Spending due at 8:30am
[08:11] {Threei} US) Preview: Sept PCE Core M/M, PCE Core Y/Y and PCE Deflator Y/Y due at 8:30am
[08:11] {Threei} US) Preview: Q3 Employment Cost Index expected at 8:30am
[08:11] {Threei} - consensus expectations at 0.4% v 0.4%
[08:30] {Threei} US) Q3 EMPLOYMENT COST INDEX: 0.4% V 0.4%E
[08:30] {Threei} US) SEPT PCE CORE M/M: 0.1% V 0.2%E; PCE CORE Y/Y: 1.3% V 1.3%E; PCE DEFLATOR Y/Y: -0.5% V -0.5%E
[08:37] {_Les__} Bonjour Messieurs et Madames ;)
[08:39] {Raven} interesting
[08:39] {Threei} good morning
[08:39] {Raven} T:)
[08:39] {Threei} R :)
[08:47] {_Les__} Didn't get to ask yesterday Vad. HGSI. U said trailing to .35, so effectively trailing for 1 point's movement. You saw trending good for potentially one point's movement. How?
[08:47] {Threei} huh?
[08:47] {Threei} original stop was under .30
[08:47] {_Les__} Just before system crash
[08:47] {Threei} trailing to under .35 is 5 cents
[08:47] {_Les__} Ah, that was it?
[08:48] {Threei} OK... I don't think we are on the same page
[08:48] {Threei} what does stop trailing have to do with target?
[08:49] {Threei} stop controls risk,
[08:49] {_Les__} I was watching it push through $20.35, from $19.30 (or something like that). Given lack of talk following this call, I thought U were trailing for a full point
[08:49] {Threei} at some point HGSI made a new low of the range solid enough to tighten risk
[08:50] {Threei} so that was a call for riske decrease
[08:50] {Threei} which has no correlation with target
[08:50] {Threei} so I am not sure what to make of the question framed this way
[08:51] {_Les__} sorry looking thru yesterday's blog for trade
[08:51] {Threei} I just don't want any misunderstanding about the meaning of the call and comments
[08:52] {Threei} any of those will lead to incorrect action
[08:57] {_Les__} My fault. I reviewed the log. I was cut out of further blog feed after your call "let's trail .35). When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35. I was impressed by your powers of prescience!
[08:58] {_Les__} HGSI topped out @ $20.33 @ 11:10. I realise now that I was no longer in the chat room
[08:58] {Threei} Les... I don't think you understand the call correctly
[08:58] {Threei} When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35.
[08:58] {Threei} this doesn't make sense to me
[08:59] {Threei} "worth a try at .41" - means entry
[08:59] {_Les__} that i understand
[08:59] {Threei} how does it correspond with " I thought you wanted to trail to $20.35"?? :)
[08:59] {_Les__} then you said "let's trail HGSI to .35"
[09:00] {Threei} trail refers to a stop
[09:00] {Threei} trailing stop
[09:00] {_Les__} so entry at .41. Immediately enter a trailing stop at .35. That was the call was it
[09:00] {Threei} no
[09:00] {Threei} entry at .41,
[09:00] {Threei} original stop under .30
[09:01] {Threei} [10:19] {Threei} HGSI worth a try
[09:01] {Threei} [10:19] {Threei} .41
[09:01] {Threei} [10:19] {Threei} stop under .30
[09:02] {_Les__} [10:25] {Threei} let's trail HGSI to .35
[09:02] {Threei} that's follow up 6 mionutes later
[09:02] {_Les__} so means what?
[09:02] {_Les__} .5 cent scalp?
[09:02] {Threei} [10:19] {Threei} HGSI worth a try
[09:02] {Threei} [10:19] {Threei} .41
[09:02] {Threei} [10:19] {Threei} stop under .30
[09:03] {Threei} [10:24] {Threei} market sharp drop
[09:03] {Threei} [10:25] {Threei} let's trail HGSI to .35
[09:03] {Threei} ??
[09:03] {Threei} Les... how does stop trailing translates into target??
[09:03] {lasertrev} morning
[09:03] {Threei} terv :)
[09:03] {Threei} it means trail THE STOP
[09:03] {Threei} not the exit
[09:04] {Threei} explain your thinking because I don't understand what it is that confuses you
[09:04] {Threei} stop is exit on LOSING side
[09:04] {Threei} if a trade moves against you
[09:05] {Threei} you enter long at .41,
[09:05] {Threei} your stop is under .30
[09:05] {Threei} Stock moves in your favor,
[09:05] {_Les__} you were tightening your stop?
[09:05] {Threei} at some point you are tightening the sdstop by trailing it
[09:06] {Threei} By no means this means changing the target
[09:06] {_Les__} ok. So "trail" means trailing stop. Thought you wanted to "trail" HGSI, i.e., follow it for a moment
[09:07] {_Les__} But as I said before. My blog feed was cut off at this point, so I didn't see this: [10:26] {fernp} out HGSI +.09, thanks strider, vad
[09:07] {Threei} YRCW
[09:07] {Threei} YRC Worldwide, Inc. Reports Q3 -$2.67(incl items) v -$1.70e, R$1.3B v $1.4Be; confirms in active noteholder discussions
[09:07] {Threei} - EPS included a net gain on property disposals of $.18 per share, severance charges of $.08 per share due to further headcount reductions and lease termination charges of $.11 per share related to further optimizing the networks.
[09:07] {Threei} - Been in active dialogue with noteholders, good progress made
[09:07] {_Les__} the system crashed and I didn't try to reenter. But thanks for clarifying your vocab.
[09:08] {Threei} you can always review the log after hours
[09:08] {_Les__} my bad
[09:08] {ese} well ...good anybody going to talk to me today huuuuuuuuh?
[09:09] {Threei} hmmm
[09:09] {Threei} ok... good morning ese!
[09:09] {_Les__} gm ese
[09:09] {strider} gm ese.
[09:09] {ese} morning all
[09:09] {ese} i was talking to myself yesterday for about an hour maybe longer on the board
[09:09] {ese} gave up
[09:10] {_Les__} well 3i doesn't understand me when i speak so i shall be quiet
[09:10] {strider} did you learn anything, ese?
[09:10] {Threei} lol
[09:11] {Threei} Les don't let it confuse you - I don't understand anyone
[09:11] {ese} don't know......were there problems with the chat room?
[09:11] {Threei} with mibbit ese
[09:11] {Threei} those connected through mirc were fine
[09:11] {ese} that s what i'm on.....
[09:11] {Threei} but mibbit went down for couple hours
[09:11] {ese} ahhhhhh haaaaa!
[09:12] {strider} pobrecito!
[09:12] {ese} so i'm still welcome? Thought there was a conspiracy going on
[09:12] {_Les__} I understand there's no such thing as a stupid question, only stupid people but...
[09:12] {ese} and that nemo was leading it
[09:13] {_Les__} If I theoretically touched that pretty house next to KSystems icon, could I crash the blog?
[09:14] {strider} there goes YRCW
[09:14] {Threei} Ford Motor Co Reportedly another plant (Michigan) rejects concessions by 75%
[09:14] {Threei} - Plant in Saline, Michigan voted the deal down 10/29
[09:14] {Threei} **Reminder: On 10/29 Ohio UAW transmission plant workers voted against concessions; vote 75% against
[09:14] {Threei} Wilbur Ross: commercial real estate on verge of huge crash- radio interview (related XHB )
[09:14] {Threei} oh great
[09:15] {Threei} BLTXX Baltic Dry Bulk 1% (2nd straight gain)
[09:15] {_Les__} yet F still at 7?
[09:15] {nemo} what was I leading...dude?
[09:15] {Threei} BLTXX Baltic Dry Bulk rises aprox 3% (2nd straight gain)
[09:16] {ese} the conspiracy not to talk to me on the board yestereday
[09:16] {Threei} give it up nemo, ese figured you out
[09:16] {ese} i was alone for about an hour and a i gave up
[09:16] {nemo} Is this one of your "I'm not paranoid, and anyone who thinks I am is out to get me" moments
[09:16] {ese} made a successful trade and called it quits
[09:17] {strider} There's a lesson here. Use mIRC?
[09:17] {ese} ahhhhhhh welllllllllll......i was thinking that i heard that
[09:18] {nemo} anything on watch Vad?
[09:21] {Threei} HIG...
[09:21] {Threei} JNPR
[09:22] {ese} baltic dry index should be on watch.....only a matter of time for those companies
[09:22] {ese} alex, egle, drys
[09:22] {ese} exm
[09:22] {ese} free
[09:22] {ese} gnk
[09:22] {ese} hrz,kex nm prgn
[09:22] {ese} ssw tbsi
[09:23] {dino} gm all
[09:23] {Threei} dino :)
[09:23] {ese} dino
[09:24] {Threei} fairly quiet market so far
[09:24] {Threei} not much to hang our hat on
[09:24] {Threei} let's not be in a rush
[09:24] {nemo} yeah...that's what it feels like
[09:24] {cosmo} yea...give it a couple of minutes...
[09:25] {Threei} lol
[09:25] {fernp} Good morning everybody
[09:25] {cosmo} :)
[09:25] {nemo} at least until 9:33
[09:25] {Threei} fern :)
[09:25] {dino} nvtl still beat up
[09:25] {ese} fern
[09:25] {strider} morning everyone
[09:25] {Threei} strider :)
[09:25] {strider} eye of three:)
[09:25] {ese} ST!
[09:25] {dino} aixg
[09:27] {strider} wierd one, aixg
[09:27] {Threei} did I just hear this for real
[09:27] {strider} Aixtron upgraded by JP Morgan
[09:28] {ese} hear what
[09:28] {Threei} new health care bill requires insurance companies to keep KIDS insured under parents coverage until they are 27!
[09:28] {Threei} kids??? 27???
[09:28] {ese} huh.....
[09:28] {nemo} oops...gotta' get my pacifier
[09:29] {Threei} something about this world I completely am unable to underatsnad
[09:29] {nemo} it's this country
[09:29] {dino} its a plan, if the next generation never has to grow up, the politicians win
[09:29] {Threei} grab one for me too nemo, and make sure it's properly soaked in scotch please
[09:29] {ese} same up here
[09:30] {Threei} ok.... gong
[09:31] {Threei} Preview: Oct Chicago Puchasing Managers Index due out at 9:45amET
[09:31] {Threei} **consensus expectation: 49.0e v 46.1 prior
[09:31] {Threei} - estimates range between 47 and 52.5
[09:31] {Threei} PLCM lost its mind
[09:31] {ese} TSRA dino
[09:31] {dino} played last night
[09:31] {ese} short
[09:32] {dino} y
[09:32] {ese} nice.....MSTR
[09:32] {ese} up 11pts
[09:32] {dino} strider called me a vampire
[09:32] {dino} :)
[09:32] {Threei} Long Setup: HIG .20 break if stays above .10
[09:33] {strider} I merely asked. Politely
[09:33] {dino} lol
[09:33] {ese} in
[09:35] {ese} out .29
[09:35] {ese} in .21
[09:35] {fernp} have to say "ty Vad". in .21 out .29
[09:36] {strider} oops. slippage
[09:36] {fernp} JNPR holding
[09:39] {Threei} Long Setup: CAT 57 break
[09:39] {Threei} grrr
[09:39] {Threei} too late?
[09:39] {fernp} missed
[09:39] {Threei} no chasing
[09:39] {nemo} yeah
[09:40] {strider} in
[09:40] {Threei} what price?
[09:40] {strider} 57
[09:40] {nemo} bastid
[09:40] {nemo} what
[09:40] {Threei} market drops fast
[09:40] {nemo} wht's the stop...90
[09:41] {Threei} it hit 1:1 before you even rported in, lol
[09:41] {Threei} take scalp
[09:41] {strider} out flat..
[09:41] {Threei} we have numbers in 4 min
[09:42] {dino} shaw gap fill from wed close
[09:42] {Threei} good job on entry strider but misseed exit
[09:42] {strider} futs scared me.
[09:42] {Threei} yes, but it hit .15 before futs drop
[09:42] {Threei} wtf is this
[09:42] {Threei} lol
[09:43] {fernp} don't look at CAT strider
[09:43] {Threei} seriously, what just happened?
[09:43] {strider} no t&S
[09:43] {dino} ndx green
[09:43] {Threei} 20 points jump NQ
[09:43] {strider} scerw it
[09:43] {nemo} good report
[09:43] {strider} screw
[09:43] {Threei} what report
[09:44] {nemo} the numbers in a couple of minutes
[09:44] {Threei} PMI?
[09:44] {nemo} whatever you said was coming
[09:44] {Threei} never saw it having such huge influence
[09:45] {nemo} told ya"
[09:45] {ese} i think my quotes are wrong where fitb
[09:45] {Threei} 9.17
[09:45] {ese} tks
[09:45] {nemo} see if we get sell the news
[09:46] {_Les__} good move exiting flat on CAT. Dropping .70 in such a fashion would have been nasty.
[09:46] {KSystems} michigan sentiment in 10 mins
[09:47] {_Les__} qcom
[09:48] {_Les__} sorry wrong screen
[09:48] {nemo} don't do it again...:)
[09:49] {_Les__} GILD bottoming out Vad?
[09:49] {Threei} not sure I like it
[09:50] {Threei} risk is relatively small, can try
[09:50] {Threei} 43 break
[09:50] {fernp} numbers in 5
[09:50] {Threei} consumer confidence
[09:51] {nemo} kinda' got a sell the news off that last spike
[09:51] {Threei} yup
[09:51] {Threei} Preview: Oct Final University of Michigan Confidence due out at 9:55amET
[09:51] {Threei} **consensus expectation: 70.0e v 69.4 prior
[09:51] {nemo} Having said that a retracement of yesteray, makes sense to. We've had 12%
[09:54] {Threei} let's wait this set of numbers and see if we get short play on NASDAQ
[09:54] {Threei} by going long QID
[09:55] {Threei} good number
[09:55] {Threei} perfect setup if market reverses and hits low
[09:56] {Threei} pullback is too deep for a breakout play
[09:56] {Threei} rather try to catch reversal, IMO
[09:57] {Threei} 22.90 QID's low for stop placement
[09:57] {Threei} ideally, dive under 23,
[09:57] {Threei} no
[09:57] {Threei} ok, no clear entry yet
[09:59] {Threei} 09:58:39 ADMIN7 --} (All): NYSE issues streetwide - causing data problems
[09:59] {dino} seeing it
[10:00] {ese} L fitb .11
[10:00] {ese} don't try this at home
[10:00] {dino} ash
[10:01] {dino} .72 sm l
[10:01] {Threei} ok, QID 23 recross long if holding above .90
[10:02] {strider} recross what?
[10:02] {ese} out fitb .17 +.06
[10:02] {Threei} 23
[10:04] {Threei} a bit too sharp into resistance
[10:06] {Threei} ok, valid
[10:06] {Threei} Long Setup: QID 23 break if holding above .90
[10:07] {dino} esi
[10:07] {dino} missed
[10:08] {dino} good girl ash
[10:08] {ese} dino i'm thinkin 23 break on tsra
[10:09] {ese} i'll say
[10:09] {dino} ? long to 23?
[10:09] {dino} 22.50s
[10:09] {ese} break above 23
[10:09] {ese} 23.01
[10:09] {dino} ahh ok
[10:10] {ese} ahh hang on .75 may work
[10:11] {nemo} hurry up and wait market
[10:12] {Threei} after this QID play resolves one way or another, someone will have to tell me what setup I tried to play on it
[10:13] {nemo} DB
[10:13] {dino} stepping back
[10:13] {dino} we call that the all dayer vad
[10:13] {Threei} not a scalp for me
[10:13] {dino} es whats' your entry on tsra?
[10:14] {ese} nothing yet
[10:14] {dino} ok
[10:14] {ese} am now thinking L at .75
[10:15] {dino} watching trv, shaw, pru, rovi, mrvl here
[10:15] {ese} has to hold .50 though
[10:15] {dino} no go
[10:15] {ese} tsra now invalidated for me
[10:15] {dino} double bottom in making maybe on it
[10:16] {dino} cut ash .02 +.30
[10:16] {ese} nice one on ash
[10:17] {dino} ty
[10:18] {ese} looks like it could still go though
[10:18] {ese} thats a very very nice lookin bull flag
[10:19] {Threei} okay market... time to die
[10:19] {Threei} you fought well
[10:19] {dino} mkt got me out, not fighting it
[10:19] {strider} will you partial at 1:1 vad?
[10:19] {Threei} sure
[10:19] {Threei} or if it spikes through fast, a bit higher
[10:19] {Threei} sometimes QID does that
[10:20] {dino} shaw has gap around 25.80. yahoo states 25 in cash/share fwiw
[10:21] {ese} dino i've put a bstop in on ash at .11 small
[10:22] {dino} wow, idiot move, looking at acct dropping wondering why, i have all l from before vacation
[10:22] {ese} i like the way it's holding up
[10:23] {dino} ok
[10:23] {ese} is that the right symbol?
[10:24] {dino} allstate i was dumbass about
[10:24] {ese} ahhhhh it's just your acount .....dumb dumb dumb es
[10:25] {dino} have to start using postits, :)
[10:25] {dino} esi
[10:28] {strider} may be all day
[10:28] {fernp} stop still under .90, Vad?
[10:28] {dino} esi sm l .65 wide = pulp
[10:28] {Threei} it touched so close to 1:1 that can be trailed to under .95
[10:28] {Threei} kind of personal decision
[10:28] {fernp} thanks
[10:29] {Threei} chart allows for either
[10:29] {ese} ouch
[10:29] {ese} ok l esi .71
[10:29] {dino} ash sm l .01
[10:29] {ese} sm
[10:30] {ese} out esi .81
[10:30] {ese} +.10
[10:30] {dino} gj, i want a buck
[10:31] {Threei} feeling especially humble today dino?
[10:31] {dino} but of course
[10:31] {fernp} ty Vad
[10:31] {Threei} QID 1:1
[10:31] {Threei} half out, stop to under .95
[10:31] {ese} L ash .11 hit my bstop
[10:32] {Threei} don't go anywhere folks, this setup is something I want to discuss
[10:32] {ese} i'm just a small numbers guy dino
[10:32] {Threei} it's not your garden variety setup,
[10:32] {Threei} we rarely play that
[10:32] {ese} found my nich.......good enough for me
[10:33] {Threei} Market Internals update at 10:30amET
[10:33] {Threei} - NYSE volume 225M shares, about 20% below its three-month average; decliners lead advancers by 5.3:1.
[10:33] {Threei} - NASDAQ volume 435M shares, about 23% below its three-month average; decliners lead advancers by 2.3:1.
[10:33] {Threei} - VIX index +3.3 to just over 25.50
[10:33] {ese} come on ash
[10:33] {Threei} CARBX Senator Nelson on CNBC states Cap & Trade will not pass Congress this session (Update)
[10:34] {ese} it's holding up amazing against the market
[10:34] {Threei} really} there is some piece of idiocy they do not intend to push through in a hurry?
[10:34] {ese} there she blows
[10:34] {dino} pcln breaking 50 sma
[10:35] {dino} tsra
[10:35] {ese} auch du miya.....ash
[10:35] {Threei} QID stop to under 23
[10:37] {dino} sm l ..05 tsra stop lod
[10:37] {strider} Vad when you buy on break of 23, e.g. 23.01, do you consider 1;1 at 23.10 or 23.11?
[10:37] {Threei} .10
[10:38] {ese} dino wheres your stop on ash
[10:38] {Threei} .11 would be exact number, but this is not a business of exact numbers
[10:38] {Threei} things have some slack
[10:38] {Threei} and since I prefer to err on a safe side...
[10:39] {dino} .73
[10:39] {ese} tks
[10:42] {dino} watching mrvl for gap fill arouind .75
[10:44] {ese} L fitb .0964
[10:44] {ese} accounting accuracy
[10:45] {nemo} just like doing it
[10:45] {Threei} next portion 1 cent shy of 1:2?
[10:45] {Threei} lol
[10:46] {ese} lol
[10:47] {ese} out ash by the way .08 -.03 was driving me nuts ....don't know how dino puts up with it
[10:48] {strider} going into a range here, vad?
[10:49] {ese} hmmmm was up 600.00 in fitb....should have taken it.....less typing more trading
[10:49] {dino} stupid greed had .40 on tsra
[10:50] {dino} smaller size plays es
[10:50] {dino} hard stop it and let it trade
[10:52] {ese} ya i only had 500shs going there
[10:53] {dino} there you go, throw hard stop on and "no worries"
[10:53] {ese} speaking of greek......or is that greed. shoulda taken the 600 in fitb
[10:53] {dino} saw that
[10:54] {Threei} okay guys, quiet period,
[10:54] {Threei} so let's do two things
[10:54] {nemo} are we back to the opposable thumb conversation
[10:54] {Threei} first, for your visual pleasure, some fall photos
[10:54] {Threei}
[10:55] {ese} whadaya mean quite..........i'm screaming GO FITB GO!!!!!! it's deafining on this side
[10:55] {Threei} lol
[10:56] {nemo} beautiful area
[10:56] {dino} and i'm kicking esi
[10:57] {_Les__} you're a hopeless romantic Vad :). Europe is visually stunning too right now.
[10:57] {dino} old joke, use european in sentance
[10:58] {Threei} romantic eh... this is something I hear once a decade
[10:58] {_Les__} what, from your wife or your students?
[10:58] {ese} gripping chair.....finger marks in upostery.......face turning red........absolute eminating from body motions
[10:58] {ese} terror eminating
[10:58] {dino} "excuse me, euro-peeing in my car"
[10:59] {ese} ahhhh i'm up.....thinks are fine now
[10:59] {ese} things
[10:59] {dino} cmi drop
[10:59] {dino} 4 bucks
[11:00] {Threei} okay, let's get back to that chart
[11:00] {Threei} but instead of QID look at whatever you use for NASDAQ
[11:00] {Threei} NQ, QQQQ
[11:01] {Threei} long call on QID is a short call on NASDAQ,
[11:01] {Threei} and looking at NASDAQ chart,
[11:01] {Threei} see the C&H on 1 min?
[11:01] {Threei} from 9:43 to 10:12
[11:02] {dino} esi vad
[11:02] {dino} getting close
[11:03] {Threei} anyone's alive or\ I am talking to myself?
[11:03] {fernp} I see the C&H, the one that never broke .15
[11:03] {_Les__} Vad, handle is small ascending triangle 10:03 - 10:12?
[11:03] {strider} I' m listening
[11:03] {nemo} yeah.
[11:03] {Threei} yes
[11:03] {Threei} short call on this chart is FAILURE of the C&H
[11:04] {Threei} failutre of this setup is break of the handle's low
[11:04] {Threei} and failure of the setup is a setup too
[11:04] {Threei} now, C&H is sometimes easier to see than inverse one
[11:04] {ese} lovely ...i'm up 3.49 cents
[11:04] {Threei} that's why I suggested to look at NASDAQ instead of QID
[11:05] {Threei} going back to QID, you can see invsrted C&H,
[11:05] {Threei} with handle "bottom" being broken at 23
[11:06] {Threei} to polish the setup, have a look at volume formation:
[11:06] {Threei} volume on second rise to the rim is lower than on first,
[11:07] {Threei} there is some volume increase to the bottom of the cup,
[11:07] {Threei} handle touches the rim on ever-decreasing volume
[11:07] {Threei} Just wanted to go over this since it's not every day's setup and is a tad more sophisticated than most
[11:07] {ese} hmmm would have never seen that vad
[11:08] {ese} agreed
[11:08] {Threei} Original idea comes from my strong convition that we are seeing simple bounce
[11:08] {Threei} so I was on a lookout for some fake raly attempt
[11:08] {Threei} that wouyld fool bulls
[11:08] {dino} stop esi .43, +.78
[11:08] {nemo} qid popping as you write
[11:09] {Threei} and failure of some of traditional setups is just perfect
[11:09] {ese} and so is ash......nice one dino
[11:09] {dino} ash to flat
[11:09] {dino} lucky, but thx
[11:10] {dino} ash reminds me of woodpecker joke
[11:10] {ese} ?
[11:11] {nemo} dino on a roll today
[11:11] {ese} yes he is
[11:11] {ese} joke?
[11:11] {dino} woodpecker says to his depressed woodpecker buddy, "you know what you need, a nice piece of ash"
[11:11] {_Les__} Vad, was volume key to failure?
[11:12] {ese} riiiiiiiiiiiiight
[11:12] {Raven} sigh
[11:13] {Threei} one of pieces to the mosaic
[11:14] {ese} well.........i guess the joke could have been a raven
[11:14] {nemo} nah
[11:15] {ese} ya......your right
[11:15] {dino} lol
[11:15] {Threei} now QID itself forms C&H
[11:15] {dino} thats what you hearwhen you have logger friends
[11:16] {dino} esi holds well
[11:16] {ese} was just looking at that.....almost same pattern as ash
[11:17] {ese} was thinking long at .60
[11:18] {dino} cmi strange, they luved it now hate it. beat and raised
[11:18] {ese} how long will you let ash trade dino
[11:18] {ese} you got a target
[11:18] {dino} all day unless stop hits
[11:18] {dino} 35
[11:19] {ese} fitb puts in higher low
[11:19] {dino} damn distracted cmi goes .550
[11:19] {ese} this is longer than i would normally hold this.....but it's holding up well as well
[11:19] {dino} w/o me
[11:20] {ese} higher low on the 1 min chart by the way
[11:24] {dino} cmi weaiting at .50
[11:24] {dino} waiting
[11:24] {ese} this is almost funny except for the fact that this is a serious business being up 3.49cents with the # of k's i have riding on this
[11:24] {strider} out 2nd part QID
[11:24] {Threei} QID 1:2, 1/4 more out
[11:24] {fernp} Vad, what is there in the third pic? is a flower, an insect?
[11:24] {dino} gj
[11:25] {dino} ash out flat
[11:25] {Threei} a berry
[11:25] {strider} Vad does it make sense to hold a little QID for serious market tanking?
[11:25] {Threei} one you get after wild rose bloom is over
[11:25] {dino} tsra to .99
[11:25] {Threei} [11:24] {Threei} QID 1:2, 1/4 more out
[11:25] {Threei} this is what I do
[11:26] {Threei} HGSI ignores market
[11:26] {_Les__} berry is called a rose hip -
[11:27] {strider} So you hold part of the last 1/4?
[11:27] {Threei} that's it, thank you
[11:27] {Threei} holding last 1/4
[11:27] {strider} k
[11:27] {Threei} what's the deal with no one understanding what I say last couple days... did my English get worse?
[11:28] {Threei} nah, can't be, it was rock bottom as it was
[11:28] {ese} ddaaaaaaaaaaa!!! get up there fitb
[11:28] {strider} I was wondering if you sometimes hold part of the last 1/4 for more than 3:1
[11:30] {_Les__} Isn't Lari supposed to be policing your english? she been MIA since I signed on..
[11:30] {Threei} depends on origional number of shares
[11:30] {ese} larisa...hmmmmmm good question
[11:31] {Threei} if it's not a lot, I maay just hold last 1/4 andf trail the stop
[11:31] {Threei} if a lot, may partial more
[11:31] {dino} who are you the cat in the hat
[11:34] {dino} cmi sm l .00
[11:35] {dino} stop is .67
[11:35] {Threei} 1:3
[11:35] {Threei} make your decision, to exit in full or to trail to under .10
[11:35] {dino} tsra stopped -.06
[11:37] {dino} stopped cmi, mkt got me
[11:37] {Threei} 1:4
[11:37] {Threei} if trailing, stop to under .20
[11:37] {Threei} I am out
[11:37] {strider} out last +.41
[11:38] {strider} thx Vad
[11:38] {Threei} +.44
[11:38] {Threei} was it a beauty or was it a beauty
[11:38] {dino} wtg
[11:38] {Threei} ty
[11:38] {strider} A good lesson in patience for me.......patience, are you there? :)
[11:39] {dino} gaps ndx 1682, s/p 1042
[11:39] {strider} 1 hr. 35 min. trade
[11:39] {Threei} speaking of phootgraphy... new lens on the way, ultrawide angle
[11:39] {Threei} whole new way to see the world
[11:39] {Threei} can't wait
[11:40] {strider} Ultrawide...isn't that a Harley?
[11:40] {Threei} no
[11:40] {_Les__} fish eye! like what 8mm, 16mm?
[11:40] {Threei} not fisheye
[11:41] {Threei} 9-18 mm... in 35mm terms. 18-36
[11:42] {nemo} apol holding today dino
[11:42] {Threei} anyone but strider took whole QID move?
[11:42] {dino} watching it for esi
[11:43] {Threei} 40 cents is darn nice one on a slow day
[11:43] {dino} wed gaps on stocks are filling
[11:43] {Threei} but the best part of this play is setup itself
[11:43] {strider} HIG?
[11:43] {dino} tsra rinsed
[11:43] {Threei} it's so evilishly sophisticated
[11:43] {Threei} HIG forms breakdown
[11:44] {_Les__} in 35 mm terms? U using large/medium format camera?
[11:44] {dino} ghoulishly for the season
[11:44] {Threei} no
[11:44] {Threei} just using 35 reference for unifying the terrms
[11:45] {Threei} with all the different crops of today's sensors, need something standard to make sure we speak of the same thing
[11:45] {Threei} Short Setup: HIG .50 break
[11:45] {Threei} if stays under .85
[11:45] {Threei} .65
[11:46] {strider} crap
[11:46] {nemo} looked at mirc
[11:46] {Threei} 1:1
[11:46] {strider} how'd you get that?
[11:47] {Threei} limit .47, hit when .50 started melting, got .48
[11:48] {nemo} hah
[11:48] {nemo} fcx did the straight 45 degree up yesterday, doing the opposite today
[11:49] {Threei} btwm last photo on that page is one of rare cases when I am totally hapy with everything, hit all I wanted just right
[11:49] {Threei} colors, composition
[11:49] {Threei} direction of the shade
[11:49] {Threei} I mean this one
[11:49] {Threei}
[11:52] {nemo} aapl crashed
[11:52] {_Les__} U like form and shape do you? so do i
[11:53] {Threei} whoa
[11:53] {Threei} QID 1:7
[11:53] {Threei} that's beyond what I expected
[11:54] {nemo} quite the retracement of yesterday
[11:54] {nemo} low volume though
[11:54] {Threei} almost all of it
[11:54] {_Les__} so this is bounce or post bounce reversal? The new trend in?
[11:54] {Threei} yeah, I whish we had more volume today
[11:54] {fernp} you still in QID, Vad?
[11:54] {Threei} would givbe me more confidence in downtrend continuation
[11:55] {Threei} no fern, sold .44
[11:55] {nemo} we also talked about the aggravating sideways grind that would piss off the most people
[11:55] {dino} ndx filled
[11:55] {Threei} I doubt it's an option for the next week
[11:56] {Threei} I feel we will have some resolution
[11:56] {Threei} too much tension in the air
[11:56] {Threei} if we make new low today, it will start smeling like a quick nasty crash
[11:58] {Threei} well well well
[11:58] {Threei} guess who is on TV
[11:58] {nemo} Emily Watson?
[11:59] {Threei} wow
[11:59] {Threei} getting deeper nemo
[11:59] {nemo} I switched back today
[11:59] {dino} tsra holds the bottom well es
[11:59] {Threei} good
[11:59] {Threei} you mean I can accept a scotch from you wihout being extracareful?
[11:59] {nemo} remember...Barney's my Congressman
[11:59] {dino} shaw july gap
[12:02] {dino} history channel, hallooween
[12:03] {strider} celts & druids?
[12:05] {dino} yes
[12:05] {nemo} when it on?
[12:05] {strider} AMZN dbl bottom
[12:05] {dino} better than cnbc
[12:05] {strider} whoops.
[12:05] {dino} now nemo
[12:05] {nemo} oh
[12:06] {dino} cmi sm l .75
[12:06] {dino} stop .43
[12:07] {strider} 7% in DC betw.40-49 have HIV/AIDS
[12:07] {dino} tsra sm l .00, stop lod
[12:08] {ese} out fitb .13 +.03 and a bit
[12:09] {ese} i'm takin my 600.00 and be done with it
[12:09] {dino} gj
[12:09] {Threei} yours eh
[12:09] {ese} tks
[12:09] {Threei} let me tell ya
[12:09] {Threei} a few seconds ago it was someone's 600
[12:10] {ese} definitely....was wondering what the H was going on there
[12:10] {strider} good trades dino
[12:10] {_Les__} hey, where's my money gone on fitb?? :P
[12:11] {Threei} lwet it be a lesson... do not trade against ese
[12:11] {_Les__} a sucker born every minute. I'm shimmying up the grease pole so I'm no longer bottom of the pile...
[12:11] {_Les__} learning to shimmy
[12:14] {strider} RIMM short?
[12:14] {fernp} out here FITB from. 9.06 :)
[12:14] {Threei} hard to tell
[12:14] {ese} nice one fern
[12:15] {fernp} ty
[12:15] {Threei} if market drops sharply and RIMM gives little delay, yes, I'd go for it
[12:15] {ese} it just exploded up there
[12:15] {Threei} otherwise, no
[12:15] {strider} thx
[12:15] {Threei} (US) SEC Staff: changes the price used for oil and gas reserves
[12:15] {Threei} huh?
[12:15] {Threei} what does it mean?
[12:16] {Threei} (US) SEC Staff: issues new accounting rules for oil and gas reserves, removes exclusions for oil sands and shale gas (related USO )
[12:16] {Threei} ok... more clear
[12:16] {Threei} Market Internals update at 12:00pmET
[12:16] {Threei} - NYSE volume 390M shares, about 20% below its three-month average; decliners lead advancers by 7.4:1.
[12:16] {Threei} - NASDAQ volume 875M shares, about 13% below its three-month average; decliners lead advancers by 2.8:1.
[12:16] {Threei} - VIX index +9% to just over 27.00
[12:17] {dino} rimm entering that big gap area 48--58
[12:18] {fernp} Why have I sold FITB at .17?
[12:19] {fernp} another sleepless night....
06[12:19] * strider slaps fernp around a bit with a large trout
[12:19] {Threei} lol
[12:19] {nemo} big bid on rimm @ .23
[12:19] {nemo} eh, nevermind
[12:19] {ese} because......theres more where that came from another day
[12:20] {ese} you can bet the pros are selling into that run fern so might as well be doing it as well
[12:20] {ese} you
[12:20] {fernp} yeah, was my 1:2
[12:21] {Threei} beautiful setup you found guys
[12:22] {Threei} (almost as good as my QID)
[12:22] {ese} once your out of the mind set of....damn look at how much more money i could have made your fine
[12:22] {fernp} almost
[12:23] {ese} thats maybe the biggest thing i had to learn here........and i lucked out today.....i know this tock but still
[12:23] {ese} first opportunity.....was gone
[12:26] {Threei} sharp markety drop took RIMM with it but without little delay for entery
[12:26] {dino} out cmi .04, +.29
[12:26] {nemo} nice spelyng
[12:26] {dino} out tsra .15, =.15
[12:26] {Threei} DJI -173
[12:26] {dino} +
[12:26] {Threei} was what, about +205 yesterday?
[12:27] {dino} 9762 was wed close
[12:28] {Threei} -200
[12:28] {ese} need rimm to get down to 48/50
[12:28] {Threei} beautiful
[12:28] {nemo} 199
[12:29] {ese} 58.13 and it's gone rimm
[12:30] {strider} ese, is DRYS where you want it?
[12:30] {Threei} GERN Reaches Agreement on Clinical Hold with FDA
[12:30] {Threei} -announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)... (6.18, +0.41, 7.11%) more...
[12:30] {Threei} announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)-based product, GRNOPC1, for the treatment of spinal cord injury. The plan is expected to enable Geron to re-initiate the Phase I clinical trial of GRNOPC1 in patients with complete thoracic spinal cord injury and to support future expansion of the trial to patients with cervical injuries.
[12:31] {ese} nope not yet
[12:31] {ese} but i've been dabbling on the way down
[12:31] {ese} just in case
[12:33] {ese} i'd like to see it around 5.50 although it may not get there
[12:34] {ese} was in and out with 20k yesterday for +.13
[12:35] {strider} How long have you been trading?
[12:35] {dino} es like 60 years
[12:35] {ese} not long enough with vad......had i met him 10 years ago it would be my full time occupation
[12:36] {Threei} yeah, I was handsome man back then
[12:36] {Threei} oh wait... that's not what you mean
[12:36] {_Les__} 20k ese. Risk management?
[12:36] {nemo} huh?
[12:36] {nemo} who's switch hitting today?
[12:36] {ese} 2% max any day
[12:37] {nemo} rimm coming into resistance
[12:38] {_Les__} ok. trying to work out profitable means of applying 10G, but obeying for 1st time Vad's law of risk management
[12:39] {dino} shaw sm l .60
[12:42] {Threei} Iraqi Immigrant on the Run, Accused of Running over His daughter Because he Thought She Was Too Westernized
[12:43] {nemo} yeah...saw that this morning
[12:43] {Threei} Just how screwed up one must be to do this?
[12:43] {dino} messed up
[12:43] {nemo} Sharia Law...they can kill their wives and daughters under certain circumstances
[12:43] {dino} they use religion to keep their people down
[12:44] {ese} there are numerous risk management ideas les.....for me i cut it off if i loose 500.00 in any one day
[12:44] {nemo} It's their code
[12:44] {strider} HIG forming c&h
[12:45] {dino} some day the wives and daughters will organize and give some back
[12:45] {strider} pointy
[12:45] {ese} even though my 2% is between 15k and 25k
[12:45] {nemo} only, maybe, if there here, but Islamic communities are growing...Hell, the Brits decided Sharia must be considered in legal cases
[12:46] {dino} you want to stop this nonsense, tax it.
[12:47] {strider} HIG vad?
[12:48] {dino} drop
[12:48] {_Les__} honour killings different from Sharia law
[12:48] {dino} breaking support
[12:48] {KSystems} next leg
[12:49] {nemo} my timing totally off today
[12:49] {ese} was that story from canada vad?
[12:49] {strider} missed againt
[12:49] {strider} again
[12:49] {nemo} Arizona I thinnk
[12:49] {dino} shaw out flat
[12:50] {ese} because we just had one from down east......where the son and the father drove daughters and cousins into a canal and drown them
[12:51] {_Les__} AIG looking for further b/d
[12:52] {strider} missed the trigger.
[12:53] {nemo} apol finally dropped
[12:54] {Threei} I am not sure what you were looking for in HIG strider
[12:54] {Threei} you said C&H
[12:54] {_Les__} oops. AIG found support
[12:54] {_Les__} and buying volume
[12:55] {strider} cup from 11:57 to 12:29
[12:55] {strider} support of 12.265
[12:55] {Threei} oh, you mean inverse c&h
[12:55] {strider} cup was pointe.
[12:55] {strider} well, yeeeeeeessssssss
[12:56] {Threei} As if it's understood by default, lol
[12:56] {strider} Coffee hadn't been poured yet.
[12:56] {strider} so solly
[12:56] {strider} It worked, too...but once again, I missed the boat.
[12:57] {strider} I've madee a lot of theoretical money today.
[12:58] {strider} Going to the theoretical bank later.
[12:58] {dino} lol
[12:59] {Threei} where is magoo
[12:59] {Threei} I got AIG play for him
[12:59] {Threei} double bottom off .50 is dives closer to it
[12:59] {dino} what do you think, b-day finish
[12:59] {dino} feels like it
[13:00] {strider} b-day?
[13:00] {dino} -317
[13:00] {ese} maybe he thinks you don't care know how sensitive he is
[13:01] {Threei} sensitive magoo?
[13:01] {Threei} now, that's image I need a hot iron to burn out of my mind
[13:01] {ese} lol
[13:02] {strider} where do you place a stop on the magoo dbl bottom, vad?
[13:02] {Threei} I am scared to answer that
[13:02] {Threei} Long Setup: AIG .60 break if stays above .50
[13:02] {dino} he took his son mx racing
[13:03] {nemo} what setup is this Vad? higher low
[13:03] {Threei} double bottom with higher low
[13:04] {Threei} not a scalp for me
[13:04] {Threei} 1:1
[13:04] {Threei} with any market help should be good for something above .90
[13:04] {dino} shaw again, sm l .50
[13:06] {strider} hey bk:)
[13:06] {bkhmd} hey Stride hey all
[13:06] {Threei} bk :)
[13:07] {Threei} missing good days
[13:07] {bkhmd} yes had to travel for work
[13:07] {bkhmd} today is good trading?
[13:07] {Threei} yup
[13:08] {bkhmd} wow what happened to the DOW? lol
[13:08] {fernp} missed AIG, Vad. valid entry if returns to .61?
[13:08] {strider} long shaw, .47
[13:08] {bkhmd} mostly short plays today or bounces?
[13:08] {Threei} not sure fern
[13:08] {Threei} both bk
[13:09] {Threei} short was the biggest
[13:09] {bkhmd} k i will grab the next set up
[13:09] {dino} eyes on esi
[13:10] {ese} fern.....theres the reason you did the right thing with fitb
[13:10] {Threei} CIT WSJ: Icahn will provide $1B back up line; will agree to standstill agreemenet (0.81, -0.14, -14.84%)
[13:11] {Threei} half out AIG
[13:11] {fernp} wow!, ty ese
[13:12] {ese} could be a brutal month november.....if the month goes out like this it's usually the pre curser for the next that correct?
[13:13] {Threei} no
[13:13] {dino} not this month, started 9 of 12 down from end of sept
[13:13] {dino} imo means nothing (yet)
[13:14] {ese} i'd read that somewhere...don't remember....
[13:14] {Threei} would be too easy
[13:14] {ese} althought reading 250 trading books made me no money until hooking up with you all
[13:14] {Threei} look at the last day of the month, go in that direction for the next 29 days
[13:15] {Threei} if such things worked...
[13:16] {dino} es 09-23-09- 9917, 1754, 1080; 10-02-09- 9484, 1662, 1019
[13:16] {dino} and cramer still talking how eom markups happening, not!
[13:17] {ese} went to Russells used books here a year ago and gave them 203 trading books in exchange for $125.00 credit.....that should tell you something
[13:18] {ese} kept the other 47 or so for historical reference
[13:19] {dino} trv sm l .50
[13:19] {ese} each of those books was easily over 50.00 average easilly........only have vads and one other on my trading desk now
[13:20] {dino} i still have 20
[13:20] {Threei} one other is Marx's Das Capital of course?
[13:20] {nemo} Das Kapital
[13:20] {ese} never read that one
[13:21] {nemo} I remember going to East Berlin before the Wall fell.
[13:21] {dino} or so. but the only ones that mattered, trading in the zone, vad's, and reminisses of stock operator
[13:21] {nemo} Bought an East German Economics text
[13:21] {Threei} ok... Decameron's Bocaccio then
[13:21] {nemo} First line: "Capitalism stinks, it's parasitic, and foul"
[13:22] {Threei} signed: Michael Moore
[13:22] {ese} i bought a book in Denmark......."how to drink heavily in 12 easy steps"
[13:22] {dino} and way of the turtles first half
[13:22] {_Les__} Nothing wrong with Marx's theory on Capital. He understood it well. Marx's "communist manifesto" has less oomph today
[13:23] {dino} whats wrong is assuming there is a better system
[13:23] {nemo} Mix human ego in with utopian thinking
[13:23] {Threei} yeah... as someone who actually lived in the country built on his ideas, I could list endless ways in which it was wrong :)
[13:24] {ese} agreed....thats why drinking your way through any system works well
[13:24] {_Les__} I don't confuse his understanding of capitalism and his theory of communism...
[13:24] {Threei} well, you can't separate them
[13:24] {Threei} his whole work is built on the contrast
[13:24] {Threei} this is what is wrong with capitalism, and this is how to fix it with communism
[13:25] {strider} AIG rinse
[13:25] {nemo} no rinse...just stopped
[13:25] {strider} multi-cycle rinse
[13:25] {Threei} to be precise, second half stopped breakeven
[13:26] {nemo} Now we have fasciscm run by a socialist President/Congress
[13:26] {Threei} first is out after 1:1
[13:26] {Threei} follow the routine guys
[13:26] {Threei} this is how we play them
[13:26] {Threei} never turn 1:1 play into loss
[13:26] {nemo} yes Vad...rinse is Dino's term for Vad's "rude"
[13:27] {Threei} it's still under
[13:27] {Threei} thus it's not a rinse and not rude
[13:27] {Threei} yet
[13:27] {nemo} I was commenting on the term
[13:27] {Threei} now... if it bottoms out here and goes to 35
[13:27] {Threei} that will be rude
[13:27] {nemo} that's rude
[13:27] {strider} dino you still in shaw?
[13:28] {dino} y
[13:29] {ese} Mabon Teenie Hodges said it best with a tune he co wrote with Al Green. called "Take Me Too The River" I don't why you treat me like you do.......with all of the changes that you put me though..You took my money and my cigarettes and i haven't hide nor hair of you yet.......I wanna know etc etc....Chorus....Take me to the River.....and wash me doown.......ou
[13:29] {ese} seen befor "hide"
[13:30] {nemo} took aig for a scalp under .40
[13:30] {nemo} +10
[13:30] {nemo} .10
[13:30] {nemo} 10 I'd go home
[13:30] {nemo} Vad, you haven't asked today?
[13:31] {strider} amgn big rude rinse
[13:31] {Threei} no
[13:32] {dino} shaw out +.05 trv out -.20 don't like drop
[13:32] {strider} amgn continues
[13:32] {strider} or not
[13:33] {fernp} Vad, when the trade is a "not a scalp for me" type :-). After hit 1:1, stop is raised to the entry point, or to a "tested" support level under our entry point?
[13:33] {fernp} you did that with QID this morning
[13:34] {Threei} fern, routine procedure:
[13:34] {Threei} 1:1, half out, stop to b/e
[13:34] {Threei} 1:2, 1/4 more out
[13:34] {bkhmd} Fern I have same question but didnt want t o get Fish on face
[13:34] {bkhmd} lol
[13:34] {dino} 400 pts has been normal pullback dji, we are there
[13:34] {fernp} ok. keep it simple
[13:35] {bkhmd} thanks for clarification
06[13:35] * nemo slaps bkhmd around a bit with a large trout
[13:35] {bkhmd} I learn someting new here every day
[13:35] {bkhmd} thanks nemo
[13:35] {bkhmd} First day on board i learn how to slap somoene in face with trout
[13:36] {fernp} FITB capitulating
[13:36] {bkhmd} second day i learned had to be here 3 years b4 I can slap
[13:36] {Threei} hmmm
[13:36] {dino} lol
[13:36] {Threei} who told ou that?
[13:36] {Threei} slap him right now
[13:36] {nemo} ahh...kinda' like Social Security...raising the age
[13:36] {bkhmd} 3rd day i learned People dont like caps in name
[13:36] {bkhmd} lo
06[13:36] * strider slaps bkhmd around a bit with a large trout
[13:37] {nemo} why did trout become the fish of choice?
[13:37] {bkhmd} smells better?
[13:37] {dino} trv sm l .10
[13:37] {nemo} you ever sniff trout?
[13:37] {bkhmd} of course ow else would i know if fresh?
[13:38] {dino} had them laying in hunt club driveway
[13:38] {dino} dam broke
[13:38] {bkhmd} my guess would be not so fresh
[13:38] {bkhmd} lol
[13:38] {bkhmd} GLD wanted to make a move but then stalled
[13:39] {bkhmd} does GLD usually travel against the general market?
[13:39] {Threei} no, not lately
[13:39] {Threei} mostly moves with market
[13:39] {Threei} and both move against USD
[13:39] {dino} cmi sm l .65
[13:40] {Threei} but I feel for a while they will decouple soon
[13:40] {dino} too soon
[13:40] {dino} gld contrary $ lately
[13:40] {bkhmd} Vad what are you using to track the dollar? compared to which currenc
[13:40] {bkhmd} currency
[13:40] {nemo} uup
[13:40] {Threei} UUP
[13:41] {dino} extrapolate, $ is contrary to gold and stocks lately
[13:41] {nemo} read your mind Vad...disgusting
[13:41] {Threei} I don;t care about other currenies... except CAD which I want to drop dead
[13:41] {Threei} that would be FXC
[13:41] {dino} tsra holds well here es
[13:42] {dino} darn shaw tricked me
[13:43] {nemo} might want to partial cmi here dino
[13:43] {strider} +.10 trv, thanks, dino
[13:44] {dino} np
[13:44] {dino} sm nemo, want .30-.55
[13:44] {dino} should get to .15
[13:44] {dino} pattern
[13:44] {nemo} greedy long on a day like today? call you magoo
[13:44] {dino} trv should get to .50
[13:45] {dino} big difference, i'm trading 300-400 only
[13:46] {strider} HIG forming yet another REVERSE c&h
[13:46] {dino} plus nemo, i use hard stops
[13:47] {dino} cmi to b/e
[13:48] {strider} looks fore like a dbl bottom, hig?
[13:48] {strider} more
[13:49] {fernp} HIG in lunchtime is not a god candidate IMHO
[13:49] {dino} almost 2:00 pm
[13:49] {nemo} he must be mountain time
[13:50] {fernp} yeah!!!, we moved back clocks last saturday
[13:50] {fernp} GMT+1
[13:50] {nemo} not as dumb as I look...
[13:51] {nemo} then again...nobody could be THAT dumb
[13:51] {nemo} Just call me "Agarn"
[13:51] {dino} rovi holds well
[13:51] {dino} intc too
[13:51] {dino} mrvl
[13:54] {fernp} FITB breakdown?
[13:54] {dino} out cmi .85
[13:55] {dino} +.20, sometimes i expect too much nemo
[13:55] {Threei} I am hesitatnt to continue playing short side fern
[13:55] {nemo} broken clock moment, dude
[13:55] {dino} lol
[13:55] {Threei} odds become increasingly worse
[13:56] {nemo} yeah, shorts are probably going to want to cover for the weekend
[13:56] {Threei} well, this logic I don't buy
[13:56] {fernp} yes i think so nemo
[13:56] {nemo} Why, they making good money today
[13:56] {Threei} yes... but
[13:56] {dino} pru gap close to filled
[13:57] {nemo} but...but...but...but...
[13:57] {Threei} to know what is more likely, shorts wanting to cover or longs wanting to get out
[13:57] {Threei} and which side will overpower the other
[13:57] {Threei} you need to know the disbalance
[13:58] {nemo} so flat for the rest of the day?
[13:58] {Threei} and if you or anyone can come up with the way to do that... Bill Gates will be your doorman
[13:58] {nemo} Let me get the chicken...
[13:58] {Threei} why flat?
[13:58] {Threei} my point is,
[13:58] {nemo} Where are those crystals?
[13:59] {Threei} whatever happens at the close,
[13:59] {Threei} the logic who is going to get out is not going to help you figure it out
[13:59] {Threei} It's false logic
[13:59] {Threei} it works only in one case:
[14:00] {Threei} when you have some strong reason to read the disbalance
[14:00] {Threei} as in:
[14:00] {Threei} longs piled up hugely,
[14:00] {Threei} there are way too many of them
[14:00] {Threei} or shorts leaned in too strongly
[14:00] {Threei} and it's not like this kind of things is obvious all the rtime
[14:00] {Threei} or even often
[14:01] {Threei} it's rare cases when you get clear read on such disbalance
[14:01] {Threei} otherwise calling reversals would be easy
[14:01] {Threei} see my point?
[14:01] {nemo} yes
[14:01] {dino} so nemo, in regards to the close or monday for that matter, you make me think of trading w/the zone, the only rule you need to get from the book, is this; "anything can happen"; therefore, no worries
[14:01] {fernp} shorted small shares FITB at .93 w/stop above .95, so I am not nervous with my position :)
[14:02] {Threei} lol fern
[14:02] {Threei} that's what I call extreme risk control
[14:02] {fernp} and easy 1:1 lol
[14:02] {Threei} rofl
[14:02] {fernp} just letting trade
[14:02] {nemo} probably cost you more to trade a share than the stop
[14:03] {ese} nnnnooooooooo can't recover.........auch du miya
[14:04] {nemo} I almost went short at .30 about 10 minutes ago, before Vad piped up...
[14:04] {dino} affy
[14:05] {Threei} on what nemo? RIMM?
[14:05] {nemo} yes
[14:05] {nemo} CMI rinse Dino
[14:06] {nemo} it peaked above S3 then dropped and came up again on lower volume and then dropped to .15
[14:06] {dino} well, made .20 on it, but i chickened out
[14:06] {fernp} stopped FITB. I've reached my maximun daily loss :-)
[14:06] {Threei} lol
[14:06] {Threei} some recovery in progress
[14:07] {Threei} Long Setup: AIG .25 brak
[14:07] {Threei} if stays above .15
[14:08] {ese} outta here for the weekend....take care all see you in november
[14:08] {Threei} take care ese
[14:08] {ese} see ya vad
[14:08] {fernp} bye ese
[14:08] {dino} cya es
[14:08] {ese} dino fern
[14:08] {bkhmd} later ese
[14:09] {Threei} invalidated
[14:10] {fernp} HIG 24.50 break?
[14:10] {nemo} market backing off
[14:11] {nemo} Rimm coming up on VWAP just @ .72, could be a turn
[14:11] {Threei} not sure about HIG
[14:11] {Threei} Market Internals update at 2:00pmET
[14:11] {Threei} - NYSE volume 720M shares, about 5% above its three-month average; decliners lead advancers by 14.2:1.
[14:11] {Threei} - NASDAQ volume 1.51B shares, about 4% above its three-month average; decliners lead advancers by 4.1:1.
[14:11] {Threei} - VIX index +24.5% to just under 31.00
[14:22] {nemo} apple forming .20 range
[14:29] {nemo} V C&H
[14:30] {Threei} if market establishes upward direction, could be a pretty one
[14:31] {nemo} see saw right now
[14:35] {Threei} this smackdown is perfect illustration of how setup turns into trap when played against the market
[14:36] {dino} rinse market
[14:36] {fernp} was thinking the same watching V
[14:46] {dino} pru sm l .50
[14:54] {patience} .
[14:54] {Threei} Long Setup: AIG .05 break
[14:54] {Threei} if stays above .90
[14:55] {dino} lol, howards simons on real $; white house trumpeting the saving of 650,000 jobs; by similar logic i am responsible for saving the virginity of 30 million women
[14:55] {fernp} lol
[14:55] {nemo} I would have thought more in your case Dino
[14:56] {Threei} I'll take responsibility to 30 mil more dino
[14:56] {nemo} saving it Vad, not despoiling
[14:56] {Threei} between two of us, we are good humanitarians
[14:56] {dino} :)
[14:57] {nemo} volatility thy name is AIG
[14:57] {Threei} yeah
[14:57] {fernp} invalidated, no?
[14:57] {Threei} some nervous jumps everywhere
[14:57] {nemo} evil "they" manipulating the stock
[14:57] {Threei} let's better try to catch pullback
[14:58] {Threei} break is way too dangerous
[14:58] {fernp} too random and friday... Have a nice weekend everybody. See you all on monday.
[14:58] {Threei} have a good one fern
[14:59] {Threei} I'll have to leave in 30 min too to catch that torch
[14:59] {bkhmd} later fern
[14:59] {nemo} oil down $3..must be supply/demand
[15:00] {strider} are we waiting to catch a pullback? If so where?
[15:01] {Threei} I'll tell if I see it
[15:01] {strider} :)
[15:02] {dino} cya fern
[15:04] {Threei} RIMM is not dropping with market
[15:05] {Threei} gave up now
[15:05] {Threei} shorts are not in hurry to cover eh?
[15:05] {Threei} -270
[15:06] {nemo} nope...thought you didn't believe in that?
[15:06] {Threei} how's that for a bounce smackdown
[15:06] {Threei} nemo, are you completely misreading what I say or what
[15:06] {Threei} what in this made you think I believbe in it now?
[15:12] {nemo} of course...
[15:14] {nemo} frickin rimm
[15:19] {Threei} nice bounce but didn't give clear setup worth the risk
[15:19] {nemo} no
[15:24] {ese} logged in to see what was going on.....had a class cancelled.
[15:25] {Threei} because of onlympic torch??
[15:25] {ese} hmmmm maybe
[15:27] {dino} not much es
[15:29] {dino} esi sm l .75
[15:32] {Threei} okay guys... honestly, don't want anymore trade in this nervous close, it's been somewhat exhausting week
[15:32] {Threei} I believe we handled it well
[15:32] {nemo} PPT should show up at any time
[15:32] {Threei} with some days hitting 100%,
[15:32] {nemo} you had a good week
[15:32] {Threei} and generally staying on winning side except of Monday I think
[15:33] {nemo} that was flat I think
[15:33] {Threei} unless my memory fails
[15:33] {Threei} yeah, last week we had couple losing days, you are right
[15:33] {Threei} going to try and catch that torch now,
[15:33] {strider} I would be doing OK, if I can just get my executions right.
[15:33] {Threei} you have youreselves a good relaxing weekend
[15:33] {dino} wtg vad
[15:33] {strider} Still flubbing things a bit.
[15:33] {dino} u2 bro
[15:33] {Threei} ask for help next week strider?
[15:33] {bkhmd} take care Vad thanks for the lesson
[15:34] {strider} yeah.
[15:34] {Threei} if there are questions we will answer them all
[15:34] {dino} have 3 to get rid ofyet
[15:34] {Threei} wow dino... don't lose track of time :)
[15:34] {strider} I think I know what to do...just get flustered sometimes on fast stocks.
[15:34] {Threei} see you all on Monday!
[15:34] {strider} See ya.
[15:34] {bkhmd} good weekend