Monday, November 30, 2009

Nov 30 2009

Nice day with a few relatively easy wins. Second half of the day was mostly inactive as we misread the market somewhat and preferred to stay on a sideline instead of pushing for the plays that didn't match our scenarios. Opted for some educational discussions instead.

Session Time: Mon Nov 30 00:00:00 2009

[08:04] {nemo} Hola Fern
[08:04] {nemo} mornin' bird
[08:05] {nemo} jm :)
[08:11] {Raven} {---
[08:11] {nemo} you have such a passion for understatement
[08:11] {Raven} :)
[08:12] {nemo} Your last name wouldn't be Coolidge by any chance?
[08:13] {Raven} sigh
[08:58] {strider} .
[08:58] {Les} good point
[08:58] {Les} good afternoon
[08:58] {strider} stale joke.
[08:59] {strider} morning, les
[08:59] {strider} morning here
[08:59] {Threei} Moody's: Dubai World restructuring unlikely to threaten sovereign credit ratings of UAE and Abu Dhabi
[08:59] {Threei} - " The adverse impact of a Dubai World restructuring on the non-hydrocarbon sectors of the domestic economy could potentially be severe, especially in Dubai. However, overall macro-economic stability is protected by the country's strong net external creditor position that is bolstered by Abu Dhabi's accumulated oil wealth. "
[08:59] {Threei} ***Reminder: On Nov 25 -S&P downgrades multiple Dubai based Govt entities
[09:00] {fernp} Good morning everybody
[09:00] {Threei} fern :)
[09:00] {Threei} magoo may be interested to know:
[09:00] {Threei} MAGS Reports Q3 -$0.07 v -$0.33 y/y, R$17.7M v $15.4M y/y (3.53, 0.00, 0.00%)
[09:01] {ese} morning
[09:01] {Threei} ese :)
[09:01] {Threei} BLTXX Baltic Dry Bulk Index declines by over 2% (7th straight decline
[09:02] {ese} friday was the 7th straight decline? or today as well
[09:03] {Threei} news says today
[09:03] {Threei} I refuse to count them myself, trying to cover the fact that I can count to 3 only
[09:04] {ese} ya me as well
[09:04] {Les} in good mood are we vad? :)
[09:04] {Les} sardonic self deprecation suggests yes
[09:07] {ese} my Bltxx stocks are mostly even to up.......we'll see
[09:07] {Threei} I'd say usual mood, lol
[09:08] {Moose} gm
[09:08] {Threei} Good morning moose, welcome to the room
[09:08] {Moose} thx
[09:08] {ese} moooooose........welcome
[09:09] {Moose} thx much
[09:11] {Moose} I assume all alerts and msgs displayed in #floor are also displayed in this channel also?
[09:11] {Threei} yes
[09:11] {Threei} mine are
[09:11] {Moose} great
[09:11] {Threei} comments by the rest of the room stay in here only
[09:12] {Threei} so you have area to read everytyhinbg and area to read my comments without clutter
[09:12] {Moose} so this is the place to be :)
[09:12] {larisa} gm :)
[09:12] {Threei} I firmly believe so yes
[09:12] {Threei} larisa :)
[09:13] {larisa} :)
[09:15] {BillyD} GM all
[09:15] {ese} definitely the place to be moose.......
[09:15] {Threei} billy :)
[09:17] {strider} good morning from the foot of the Blue Ridge.
[09:17] {Threei} strider :)
[09:17] {Threei} good thing it's not Blue Bridge
[09:17] {Threei} that's whwere homeless and drug addicts gather in Victoria
[09:18] {strider} No. You can keep those.
[09:18] {ese} ST.......wheres the Blue Ridge?......Blue ridge mountains?
[09:19] {ese} Tenn.....right?
[09:19] {strider} Was born in east in western NC now.
[09:20] {ese} cool.....hope to make it there to golf one day
[09:21] {Moose} my wife and i spent a couple of days on Vancouver Island... neat place
[09:21] {Moose} esp. Victoria
[09:22] {strider} You still holding some DRYS, ese?
[09:22] {ese} thats where vad patience and i are
[09:22] {ese} yes Long at .23
[09:22] {Moose} hard to bet wife to leave Buchart Gardens :)
[09:23] {Moose} get
[09:23] {strider} I'm at .42. Wish I'd got out over 7 awhile back.
[09:23] {Threei} I have anual pass there moose :)
[09:23] {ese} it's fantastic in there......even now in the winter months....don't know how they do it
[09:23] {Moose} nice
[09:24] {Threei} photographer's paradize
[09:24] {ese} it's heading back there ST
[09:24] {Threei} okay guys
[09:24] {Threei} no clear opening plays
[09:25] {Threei} as it often happens on Mondays, things feel shaky and a bit hangoverish,
[09:25] {Threei} especially considering holiday beofre and Friday's shock of Dubai events
[09:25] {Threei} at this points it feel to me like the most probable scenario is:
[09:25] {ese} I was long .47 last round ST..........should have gotten out over 7 but exited in high .80's and low .90's
[09:25] {Threei} small initial selloff, not cery deep,
[09:25] {Threei} rally,
[09:26] {Threei} stall,
[09:26] {Threei} inactive period with slow slide, just a tad
[09:26] {Threei} inactive finish
[09:26] {Threei} that's working assumption...
[09:26] {Threei} we will se how it materializes
[09:27] {ese} seed flooding my scanners
[09:27] {Moose} SEED active
[09:27] {Threei} yeah, this thing just won't calm down
[09:28] {Threei} Citron's ramblings on Wed are being dismissed so far
[09:28] {Threei} reminder
[09:28] {Threei} Wednesday, November 25, 2009 10:33:25 AM
[09:28] {Threei} Origen Agritech Ltd. Citron Research making cautious comments (timing uncertain)
[09:28] {Threei} - Citron notes that the company is not profitable, and predicts its "products will become just another agricultural alternative that will get commoditized away."
[09:29] {Threei} the toy looks too good for traders
[09:29] {ese} 1 out of 5 so far vad.....seems like bit of a sell off to start
[09:31] {Threei} let's see if we get shallow pullback, then 12 break on SEED
[09:31] {Threei} risky as all momos are, but has potential to turn into big play
[09:32] {Moose} geeze
[09:32] {Threei} if you lost your mind and went for SEED, feel free to take profit
[09:32] {ese} rats....missed the 12 break
[09:32] {lasertrev} gm
[09:32] {Threei} trev :)
[09:32] {ese} LT
[09:33] {nemo} $ has recovered big from premarket
[09:33] {Threei} OK{ here comes my initial selloff
[09:33] {ese} look at that thing........crazy
[09:33] {Threei} let's see if market stabilizes and provides us with bounce plays
[09:34] {Threei} WFC is long candidate
[09:34] {Threei} Long Setup: WFC .45 break
[09:34] {Threei} stop under .35 for scalpers, .30 for day traders
[09:35] {ese} l wfc ..44
[09:35] {Threei} 1:1 for scalpers
[09:35] {fernp} ty
[09:35] {Threei} 1:1 for day traders
[09:35] {Threei} and over
[09:35] {ese} out wfc .66
[09:35] {Threei} 1:2
[09:35] {Threei} take profit as you see fit
[09:36] {Threei} that was easy
[09:36] {strider} out +.12, +.24
[09:36] {strider} thx
[09:36] {Threei} welcome sir
[09:36] {ese} +.22 15k of the little buggars.....tks vad
[09:36] {Threei} 15K eh
[09:36] {Threei} welcome
[09:36] {Threei} nice start to the week
[09:37] {Moose} i caught that one also (in SIM) :)
[09:37] {strider} what platfrom you using, moose?
[09:37] {Moose} TS
[09:37] {ese} i'm happy
[09:37] {Threei} yikes
[09:38] {Threei} CAAS??
[09:38] {Threei} no news that I see
[09:38] {Moose} wow... crazy
[09:38] {strider} no news here
[09:39] {strider} positive comments
[09:39] {Moose} SIGA
[09:40] {Threei} looked at SIGA around .50, couldn't bring myself to call it
[09:40] {Threei} too thin
[09:40] {Moose} ic
[09:40] {Les} aig in play today. more derivative scares?
[09:41] {Les} or derivatives issues bringing it back to life
[09:41] {Threei} latter is more like it, yeah
[09:42] {Les} derivatives - a scalpers best friend...
[09:42] {Threei} OK, rally is about to start
[09:42] {Threei} part 2 in progress
[09:42] {strider} Chicago PMI in 3 min.
[09:42] {nemo} spy positive
[09:43] {ese} had intial buy of 5k vad for wfc and when i realized it was going to take off did 2 more.....the avg fill was good i thought .44 then 3 sells.....
[09:44] {Threei} Long Setup: WFC /70 break if stays above .60
[09:44] {ese} moomentum on X and sales was dead give away i thought
[09:45] {fernp} WFC stop?
[09:45] {Threei} if stays above .60
[09:48] {Threei} market is hesitant
[09:48] {Threei} WFC wants up like crazy
[09:48] {nemo} yeah, that news didn't do anything
[09:48] {Threei} but needs market's help
[09:49] {Threei} if works, won't be a scalp for me, intend to partial
[09:49] {Threei} AIG UPDATE: Bernstein cuts price target to $12 from $20; maintains underperform rating
[09:49] {Threei} lol
[09:49] {Threei} embodiment of irrelevance
[09:49] {ese} Ok so now i would'nt feel comforable with wfc........X and sales not going nuts like i missing something
[09:50] {Threei} market hesitance is holding it back ese
[09:50] {nemo} $ hasn't moved since the open
[09:50] {Les} so stall and inactivity has begun only 20 mins after opening?
[09:51] {Threei} SEED new high
[09:51] {ese} what are you looking at for the $ nemo
[09:51] {Threei} I'd expect more upward move before we stall for the day Les
[09:51] {nemo} uup
[09:51] {Moose} and UDN for inverse
[09:53] {ese} tks......
[09:54] {Threei} if you have too much WFC exposure, maybe cut it down a bit
[09:54] {nemo} yeah, lookin' short here
[09:55] {Moose} i chickened out and bailed
[09:55] {Les} damn. sold the lot by accident
[09:55] {Threei} short? no way
[09:55] {Threei} salmon
[09:55] {Threei} DNDN Hearing strength attributed to renewed takeover chatter (27.76, +0.52, 1.91%)
[09:55] {Threei} rfemember I said last week, DNDN next runner on rumors?? :)
[09:56] {Threei} magoo joked about buying
[09:56] {nemo} actually he said "IN"
[09:56] {Threei} yup
[09:56] {fernp} APOL happy
[09:56] {Threei} these rumor bunker guys become predictable
[09:57] {Les} well give us the next t akeover rumour Vad, so we can go long :)
[09:57] {Threei} ummm... VVUS?
[09:57] {Threei} nah
[09:57] {Threei} ENER is more likely
[09:58] {strider} moving my WFC stop to .64
[09:59] {ese} L cat .06
[09:59] {strider} N. Am Purchasing manager's report at 10
[10:00] {Threei} speaking of ENER... 10.10 break is valid scalp setup if market rallies a bit
[10:00] {Threei} 10 loss is valid short setup too
[10:01] {ese} out cat .18 +.12
[10:01] {Threei} US) Nov Milwaukee NAPM: 57.0 v 50.0 prior
[10:01] {Threei} *highest read since Sept 2009
[10:01] {fernp} gj
[10:01] {fernp} ese
[10:01] {Les} on fire today ese
[10:01] {ese} tks
[10:02] {ese} good start ....time to pare sense in taking anymore risk today
[10:03] {ese} just watching a swing long position in drys now
[10:04] {ese} do you use the uup and udn for market direction?
[10:05] {nemo} The $ has been directly inversely correlated to market direction since the spring
[10:05] {Moose} dollar up -- mkt down
[10:05] {Threei} WFC 1:1, half out for me
[10:05] {Moose} dollar down -- mkt up
[10:05] {fernp} ty
[10:05] {Moose} sometimes :)
[10:05] {Threei} welcome
[10:05] {strider} out +.11 WFC
[10:05] {ese} tks
[10:05] {ese} seems sinple enough
[10:05] {ese} simple
[10:06] {nemo} won't last forever, but. Just put up a comparison of $ to SPY
[10:06] {Threei} what they don't tell you ese, for thbe market direction they roll dice... UUP they just watch to look all scientific
[10:06] {Threei} ENER 1:1
[10:06] {ese} ahhhhhhhhh haaaaaaaaaa!
[10:06] {Les} is that asceding triangle in SEED?
[10:07] {Threei} Goldman: US Banks have recogized approximately 2/3 of expected losses in current cycle
[10:07] {Threei} out ENER in full
[10:07] {Threei} .25
[10:07] {nemo} Yeah, but will there be another new cycle of losses
[10:07] {Threei} that's 3 for 3 so far if not count crazy SEED call
[10:08] {Threei} here comes myrally
[10:08] {ese} hard to believe somebody actually made some money in ener
[10:08] {ese} took that one of my monitors just last week......was driving me crazy
[10:13] {strider} CLWT
[10:15] {Threei} another one with no news whatsoever
[10:15] {Threei} unless I miss something
[10:15] {strider} Rumor: Euro Tech Holdings moves higher on unit IPO speculation
[10:15] {Threei} AMZN 52 week highs
[10:16] {strider} Rumor: Euro Tech Holdings moves higher on unit IPO speculation
[10:16] {strider} Shares of Euro Tech Holdings are trading higher on speculation the company may IPO its Blue Sky unit, a provider of design and general contract services for the treatment of waste gases in China.
[10:16] {strider} CLWT
[10:17] {Threei} waste gases eh
[10:17] {Threei} no comments please
[10:17] {strider} I thought that was relevant to this group.
[10:17] {strider} too late.
[10:17] {Threei} lol
[10:17] {Moose} lol
[10:17] {Raven} {}
[10:18] {strider} At least we're not stooping to cow tipping jokes....
[10:18] {strider} yet
[10:18] {Les} CAT consolidating for a long entry?
[10:19] {Threei} second half WFC stopped
[10:19] {Threei} ecerything is les
[10:19] {Threei} AMZN too
[10:19] {Threei} I am not vert jazzed about buying breakouts here
[10:20] {Threei} stall is more likely than break and go
[10:20] {strider} VPRT
[10:20] {strider} wide
[10:22] {Moose} ZGEN slow creep upwards
[10:22] {strider} DRWI
[10:23] {strider} S
[10:24] {strider} never mind.
[10:25] {strider} Moose...I need to warn you...Nemo shoots large animals.
[10:26] {Moose} yike!
[10:26] {Moose} s
[10:26] {Threei} and dino and magoo are on deer hunt this week
[10:28] {Moose} do most ppl use this Mibbit thingie or mIRC?
[10:28] {strider} mIRC takes less real estate
[10:29] {Moose} plus can set sound alerts
[10:29] {Moose} haven't used it in years but may have to go back to it
[10:30] {ese} for cryiny out *&^&^% loud..........another stupid mistake......last week i buy one by accident and now this week ebay.....thought i had a limit buy for .65........see it taking off ...can't figure why i'm not in. stupidly had entered .55 and it never made it dn there
[10:32] {Threei} - No revisions
[10:32] {Threei} *First positive reading since Oct 2007
[10:34] {ese} this is a good thing
[10:35] {nemo} kinda' except the US doesn't make anything anymore
[10:35] {Moose} is WFC trying for b/o ?
[10:36] {Threei} I'd stay away
[10:36] {Threei} this is not a compelling play anymore
[10:36] {Moose} ok thx
[10:36] {ese} lots of intellectual property nemo.......great explanation of that in a book called "RUNNING WITH THE BULLS" ......Kessler is the author
[10:37] {Threei} a bit up, a bit down... we want those that yell at us from the screen "buy me NOW"
[10:37] {nemo} yes, but asia could give a rats derriere about intellectual property rights
[10:37] {nemo} besides, jobs will be the big issue here
[10:37] {ese} thats because they don't have any
[10:38] {nemo} they just take it and don't care
[10:38] {Moose} HEAT geeze
[10:38] {larisa} AIG pace pick up
[10:39] {Threei} Market Internals update at 10:30amET
[10:39] {Threei} - NYSE volume 200M shares, about 28% below its three-month average; advancers lead decliners by 1.1:1.
[10:39] {Threei} - NASDAQ volume 400M shares, about 27% below its three-month average; decliners lead advancers by 1.5:1.
[10:39] {Threei} - VIX index -0.9% to just over 24.50
[10:40] {Moose} HEAT may have created some bag holders
[10:44] {Threei}
[10:45] {strider} Long sm. EEV, .77, for swing trade
[10:46] {strider} ultrad short emerging markets
[10:46] {Threei} all of them? or some specific ones?
[10:46] {strider} no clue
[10:47] {strider} all,, I think
[10:47] {strider} MSCI product
[10:47] {larisa} yea, index
[10:50] {Les} bac short vad?
[10:51] {Les} but limited range
[10:52] {Threei} don't see much potential here
[10:53] {BillyD} watching RIMM for potential short off 59
[10:54] {BillyD} liked AIG short, but stop too wide
[10:55] {larisa} 30 break you wanted?
[10:55] {BillyD} yes
[10:56] {larisa} I was scared at these levels, put up a fight, could snap back to 31 in a sec
[10:56] {Threei} Congressional Budget Office (CBO) forecasting US Senate healthcare bill to increase non group insurance premiums +10-13% in 2016
[10:57] {Threei} (IA) Iranian Nuclear Chief: Does not wish to exit NPT (non-proliferation treaty)
[10:57] {Threei} ***Reminder: On Nov 29 -Iran Govt approves plans to build 10 new uranium enrichment plants of approximate size of current Natanz facility - Iran state media
[10:57] {Threei} *note: Only four recognized sovereign states are not parties to the treaty: India, Israel, Pakistan and North Korea
[10:57] {Threei} *note: Iran has been in technical violation of treaty since 2003
[10:58] {BillyD} lol
[10:58] {BillyD} RIMM works
[10:59] {BillyD} ENER may be a short if breaks 10
[11:00] {BillyD} stays under .10
[11:01] {Moose} now what?
[11:03] {strider} AIG daily gap in 25-27 range
[11:05] {fernp} FITB long consolidation at hod. could be a beatiful capture for TTR-2 :-)
[11:05] {Threei} lol
[11:05] {Threei} I like it
[11:12] {Threei} Fed to conduct small scale tri-party reverse repo tests in the coming weeks; does not represent monetary policy change
[11:12] {Threei} - operations to be conducted with primary dealers, and are designed as 'advance planning.'
[11:12] {Threei} - operations are being conducted to ensure operational readiness at the Federal Reserve, the tri-party repo clearing banks, and the primary dealers. The operations have been designed to have no material impact on the availability of reserves or on market rates. Specifically, the aggregate amount of outstanding transactions will be very small relative to the level of excess reserves, and the transactions will be conducted at current market rates.
[11:14] {Threei} this pullback is much deeper than I expected
[11:14] {Threei} we may be headed for breakdown
[11:15] {Moose} SOMX on tear
[11:15] {Threei} not jumping to any conclusions yet but eyeing possible setup on QID
[11:16] {Threei} no news that I see on SOMX
[11:18] {Threei} can't make up my mind on QID
[11:19] {nemo} no clean consolidation
[11:20] {Threei} most of all, I just don't get this feeling that the market is ready to break down decisively
[11:27] {strider} can you cross from long to short (or vice-versa) in one trade...Laser?
[11:28] {nemo} yes
[11:28] {BillyD} I believe so
[11:28] {nemo} buy 400 then sell 800...done it by mistake a few times
[11:28] {strider} :)
[11:28] {nemo} heavy trigger finger
[11:28] {larisa} me too :)
[11:29] {strider} keep nemo away from the SA colts
[11:29] {nemo} Sig man
[11:29] {Moose} QID ?
[11:29] {Threei} .50 was the trigger for it
[11:29] {Threei} no chasing
[11:30] {Threei} let's try to play it differently
[11:30] {Threei} conceervative entry
[11:30] {Threei} dive into .45 - .58 area
[11:30] {Threei} for long entry
[11:30] {strider} .48?
[11:30] {Moose} ok
[11:30] {Threei} yes
[11:31] {Threei} if it got away, so be it
[11:33] {strider} RIMM bounce?
[11:34] {fernp} Market new lows and FITB still on highs
[11:34] {Threei} 50/50 RIMM
[11:39] {nemo} awiav
[11:39] {nemo} ?
[11:39] {Threei} we are in deep thoughts
[11:41] {strider} Vad
[11:41] {strider} Vad's started using the royal plural.
[11:41] {strider} "We are...."
[11:41] {Threei} well, the question is about we
[11:41] {nemo} the group
[11:41] {nemo} Are We In Anything Vad
[11:41] {Threei} so I keep things uniform
[11:42] {Threei} also, just so no one has any illusions, my deep thoughts is my code for coma
[11:43] {nemo} what is your code for "alcoholic stupor"
[11:43] {strider} I was thinking of looking up the Jack Handey quotes..
[11:43] {Threei} I don't have any nemo
[11:43] {nemo} oh
[11:46] {strider} MPEL
[11:49] {Threei} MPEL Hearing Morgan Stanley upgrades rating to Overweight (timing uncertain) (4.27, +0.15, 3.64%)
[11:51] {Threei} boredom reigns
[11:51] {nemo} it's raining too
[11:52] {Threei} with three out of three and one contemplated but missed, I am comfortable sitting and waiting for something to shape up
[11:52] {Threei} and if magoo were here, he would have taken that SEED and I could claim 4 for 4
[11:53] {strider} AIG in constricted range
[11:54] {Threei} AIG had quite a few nice breakdowns...
[11:54] {Threei} look at 1 min
[11:54] {Threei} 32 break
[11:55] {Threei} 31,50 break
[11:55] {Threei} 30 break
[11:55] {Threei} all were nice valid setups
[11:55] {nemo} I got shaken out on an aggressive break just above 30
[11:55] {nemo} stop was .05 too tight
[11:56] {Threei} ugh
[11:56] {Threei} forgot about ENER 10 breakdown
[11:57] {Threei} I need memory improving drug... but I forget to take it
[11:57] {BillyD} stepped away for water and missed it vad
[11:57] {BillyD} but took the .90 short for scalp
[11:57] {Threei} your excuse is better tha miine Billy
[11:57] {Threei} mind if I borrow it?
[11:57] {BillyD}
[11:58] {Threei} :)
[11:58] {BillyD} Vad, I even walked brislkly for the water not too miss
[11:58] {BillyD} briskly
[11:58] {Threei} ok, my will be sophisticated when I need it:
[11:59] {Threei} I walked up to grab Billy's water, but he was faster and got it before I did so I spent more time searching for it, and missed thje play
[11:59] {nemo} yeah..boredom
[11:59] {BillyD} rofl
[12:00] {Moose} nap time?
[12:00] {nemo} Moose sleep on their feet?
[12:00] {Moose} dang
[12:00] {Threei} yes but be ready to wake up on moment's notice
[12:00] {strider} that's when nemo likes to shoot them.
[12:00] {nemo} yep
[12:00] {Moose} lol
[12:00] {nemo} moose meat....good
[12:01] {nemo} don't shoot them too far from the road though
[12:01] {Threei} Market Internals update at 12:00pmET
[12:01] {Threei} - NYSE volume 370M shares, about 24% below its three-month average; decliners lead advancers by 2.7:1.
[12:01] {Threei} - NASDAQ volume 790M shares, about 21% below its three-month average; decliners lead advancers by 2.3:1.
[12:01] {Threei} - VIX index +2% to just under 25.50
[12:01] {Moose} don't worry... they're usually right in middle of road... :)
[12:01] {nemo} yep
[12:02] {nemo} saw one chasing deer away from a salt pile up in Maine once...pretty funny
[12:02] {nemo} ornery critters
[12:03] {Threei} don't put SEED to far away
[12:03] {Threei} thing is holding well
[12:03] {Threei} may turn out just waiting for the activity to return
[12:04] {Moose} i recently joined Moose International fraternity... thus the Moose nick... heh
[12:04] {nemo} never heard of it
[12:04] {Moose}
[12:04] {strider} Oh great, now they're getting organized.
[12:05] {strider} What would a moose frat party be like?
[12:05] {Moose} we have a local lodge ... bar, kitchen, ballroom... etc... fun
[12:05] {Moose} strider... old guys mostly
[12:05] {strider} well, I wouldn't know anything about that.
[12:06] {fernp} I have to leave you early today. Have a good evening everybody and see you all tomorrow.
[12:06] {strider} I knew an old guy once...
[12:06] {Threei} take care fern
[12:06] {strider} see ya fern.
[12:07] {strider} seed
[12:08] {Threei} really... teenagers strider and I, we just frolic in our seething youtfulness
[12:08] {strider} yeah, that's right......don't know about the frolicking though.
[12:09] {strider} Sounds sinister.
[12:09] {Threei} ok, you pick the verb
[12:09] {strider} prowling.
[12:10] {Threei} just avoid those "slooowly getting up from the bench, with cane in hands"... that would give away too much
[12:10] {ese} zzzzzzzzzzzzzzzzz....sknort guzzzzzzz............ahhheemmmmm.....zzzzzzzzzzzzzzzzz
[12:11] {strider} SPY dbl bottom
[12:13] {Threei} two discretionary calls, only for those who want action and don't mind 50/50 plays
[12:13] {Threei} Long Setup: SEED .15 break if stays above 12
[12:13] {Threei} Long Setup: RIMM .20 break if stays above 58
[12:14] {nemo} mmmhhhh...lunchtime plays
[12:18] {strider} out 1/2 RIMM
[12:19] {strider} out balance b/e
[12:22] {strider} kgc upgrade, larisa
[12:23] {larisa} ty, why are you telling me though ? :)
[12:23] {strider} Don't you trade gold?
[12:24] {patience} i am in it strider
[12:24] {strider} Or is that patience?
[12:24] {patience} it has been a salmon all day
[12:24] {strider} Ah, you girls look so much alike.
[12:24] {larisa} lol
[12:24] {patience} only in the dark
[12:24] {strider} no comment.
[12:24] {nemo} me neither
[12:24] {nemo} Fastballs right down the middle
[12:25] {strider} think SEED might be ready again, vad?
[12:26] {Threei} no setup
[12:26] {strider} you still in RIMM?
[12:27] {Threei} yes
[12:27] {Les} scalp only or are you looking for market to pick up this arvo?
[12:28] {nemo} what's an "arvo"?
[12:28] {Threei} I've no idea
[12:28] {Threei} this is not your nornmal play, this is kind of "gimmie some lunch money"
[12:28] {Les} british/australian english vernacular for afternoon
[12:29] {Les} oh crap, I would have taken already had I known that. ok.
[12:33] {Les} stopped
[12:33] {nemo} yeah...lunchtime trades
[12:33] {Threei} strider played it right
[12:33] {Moose} 3i... ever been to "point no point"?
[12:34] {nemo} Hope he doesn't hurt his shoulder
[12:34] {Threei} what's that?
[12:34] {larisa} resort in your area :)
[12:34] {Moose} a place on your island
[12:34] {Threei} hmmm
[12:35] {Threei} no
[12:35] {Threei} whcih area?
[12:35] {Moose} wow
[12:35] {Moose} west of Vict
[12:35] {Moose} nw
[12:35] {Threei} Sooke
[12:35] {Threei} been there many times
[12:35] {Threei} just not in that particular resort
[12:36] {Moose} great little cafe there with whale watching
[12:36] {Moose} SEED blastoff
[12:38] {nemo} stocks are weak, it's not taking much to push them over, when lunch is over could be interesting afternoon
[12:38] {Threei} MTXX Discloses SEC advised company that probe has been completed; no enforcement action to be recommended - filing dated 11/24
[12:38] {Threei} - related to June 16, 2009 warning letter issued to the Company by the FDA. (4.20, +0.22, 5.53%)
[12:38] {nemo} btw...wfc seems to be forming a bear flag range
[12:42] {Les} thanks for the tipoff moose on your cabins there. I now have place to stay when we visit vancouver island. very nice
[12:43] {Threei} it's a separate destination Les... not a place to stay while exploring Victoria
[12:43] {Threei} a bit too long drive
[12:44] {Threei} and the road is not exactly for the faint heart
[12:45] {patience} incredible location though moose
[12:46] {Les} you calling me "faint of heart"? :)
[12:46] {Threei} just giving you lay of the land
[12:46] {Threei} windy narrow road
[12:46] {Les} lol, you need to come out back of my place then
[12:47] {Threei} no need - I survived road to Hana
[12:48] {Les} Only Hana I could find...
[12:48] {Threei}
[12:49] {Moose} back... yep, Vancouver Island is full of neato places
[12:49] {Moose} unfortunatly, I'm in Tennessee.. heh
[12:50] {strider} Brother!
[12:50] {nemo} There are no moose in Tennessee
[12:50] {Moose} lol
[12:50] {strider} a lot of turkeys, though.
[12:50] {Moose} i beg your pardon... lol
[12:51] {strider} Moose, I was born in Elizabethton.
[12:51] {Moose} thats barely in TN :)
[12:52] {strider} State of Franklin.
[12:52] {Moose} nice area
[12:52] {nemo} she's a nihilist les
[12:52] {Moose} i'm over in the flat muddy western part of TN
[12:53] {strider} Should be annexed by Arkansas.
[12:53] {strider} :)
[12:53] {Les} didn't even look Nemo. unfortunately Google insists on giving me German language search response
[12:53] {Les} cause I live in switzerland
[12:53] {nemo} go to google usa
[12:54] {Les} i enter search criteria straight into address bar
[12:54] {Les} only default of google chrome
[12:54] {strider} Memphis area really should be a state all to itself.
[12:54] {nemo} oh...firefox
[12:54] {Les} Vad, RIMM support at .75?
[12:54] {Moose} with prison walls
[12:54] {Les} bounce play?
[12:54] {strider} yeah.. state of anarchy.
[12:54] {Moose} lol
[12:55] {Threei} support yes... bounce off it or breakdown - no way to tell
[12:55] {Moose} nah, Memphis has some cool things to see and do
[12:55] {Moose} BBQ
[12:56] {strider} Buddy of mine owns Rangemaster, in Memphis. I go there to shoot sometimes.
[12:56] {Moose} nice
[12:57] {Moose} bbl... lunch
[12:57] {strider} RIMM sure is looking like a b/d
[12:58] {Threei} SEED is chewing through resistances
[12:59] {Threei} anyone went for it?
[12:59] {Les} I chose the wrong horse
[12:59] {Les} figured the larger, more stately steed as the surer bet...
[13:00] {Threei} don't try to rationalize either choice les, both were 50/50
[13:00] {Les} I shorting RIMM vad, you wait until .50 is triggered (low of the day)?
[13:00] {Threei} could be easy other way around
[13:00] {Les} If
[13:01] {Threei} it's breaking support right here
[13:01] {Threei} .50 is 25 cents away, how can you tell in what way it gets there
[13:01] {Les} yeh but still suspiscious of seed as momo play
[13:01] {Threei} if it drops sharply into .50, will you short it there?
[13:01] {Les} no
[13:02] {Threei} there you go
[13:02] {Threei} price alone is not enough to answer the question
[13:02] {Les} ok, so .75 is legit support setup to play from?
[13:03] {Threei} again - if you don't mind 50/50 play
[13:03] {Threei} market just doens't do anything here
[13:03] {Threei} meaning, it can do anything next moment
[13:03] {Les} that's fine. I get to ask questions and do dinner instead of staring at screen
[13:04] {Threei} thus, market followers like RIMM will be just as random
[13:04] {Les} ok. want to ask you if you play poker or bridge?
[13:04] {Les} starting to see your setups as poker game
[13:04] {Threei} oh, and I don't know why I am wasting time here, a box with 15 millions in cash will be delivered to me by UPS from Bank of Afrika if I only send them:
[13:05] {Threei} 1.YOUR FULL NAME
[13:05] {Threei} 2.YOUR HOME ADDRESS.
[13:05] {Threei} 5.A COPY OF YOUR PICTURE
[13:05] {Les} so, what are you waiting for?
[13:05] {Threei} nothing, quickly sending
[13:05] {Threei} and btw, it's not my spelling, email does say Afrika
[13:06] {nemo} south africa
[13:06] {nemo} Afrikaans
[13:06] {Les} reading other day that quantum physicists are no longer in vogue in wall st, now poker players are being sought for trading
[13:06] {nemo} yep
[13:06] {Threei} what's the analogy here Les?
[13:08] {Threei} reason I ask:
[13:08] {Threei} there are valid analogies between trading gambling, and there are meaningless ones
[13:08] {Threei} I often hear this comparison,
[13:08] {Les} able to press bets when moment is right
[13:08] {Les} discipline, patience...
[13:09] {Threei} but there is no way to tell whether one who cites it underdtands where real analogies are until he explains
[13:09] {Les} ah no, not that patience
[13:09] {Les} understanding of probabilities. do you need maths to play poker?
[13:09] {Threei} there was a mopvie describing a professional gambler approach
[13:09] {Threei} which hit many things right on
[13:09] {nemo} 21
[13:09] {Threei} Rounders
[13:09] {nemo} oh yeah, Matt Damon
[13:09] {Threei} yup
[13:09] {nemo} good movie
[13:10] {Les} 21 is name of movie?
[13:10] {nemo} bad accent on Malkovich
[13:10] {nemo} 21 was about the MIT students
[13:10] {Threei} speaking of movies... we forgot to ask fern how he liked 2012
[13:10] {Threei} to put it short,
[13:11] {Threei} those who liken trading to gambling in a sense that you just make your bets and hope for luck have no idea what they are talking about
[13:11] {Les} ah no, not at all the analogy i was reading
[13:11] {strider} lelap
[13:11] {Threei} those who see similarities in spotting the odds and patterns in those games where there are such
[13:11] {nemo} "why does everyone say 'good luck' when you tell them you're going to Vegas?"
[13:11] {strider} LESP
[13:11] {strider} damn
[13:11] {Threei} and utilize them with steel discipline
[13:11] {strider} LEAP
[13:12] {Threei} LEAP Hearing Dealreporter speculating that LEAP could be a target for PCS
[13:12] {Threei} those got it right
[13:12] {Threei} US Treasury's Barr: US mortgage plan has already shown progress, but banks must now "do their part" on loan programs
[13:12] {Threei} - Barr and TARP chief Allison are meeting with large loan servicers today
[13:24] {strider} AMZN up from 95 to 135 in 6 weeks.
[13:26] {Threei} LEAP still trying
[13:27] {BillyD} spikey one
[13:27] {nemo} aapl break of .50 could be interesting
[13:30] {Les} CAT recovering
[13:30] {Threei}
[13:30] {Les} ascending triangle CAT?
[13:30] {Threei} more or less
[13:31] {Threei} 58 was cleaner trigger
[13:31] {Threei} don't chase
[13:31] {BillyD} your desk photo Vad?
[13:31] {Threei} yeah
[13:32] {BillyD} got enough electronic gizmos?
[13:32] {Threei} lol
[13:32] {Threei} he who dies with the most toys dies happy
[13:33] {BillyD} yeah, especially with that dinosaur monitor
[13:33] {Threei} no kidding - darn thing just won't diw
[13:33] {BillyD} good paper weight
[13:33] {strider} Hey! I resemble that remark.
[13:33] {Threei} rofl
[13:34] {strider} I don't have to heat my house in winter because of those things.
[13:34] {BillyD} lol
[13:34] {Threei} it's on reserve computer, I don't need anything but basic things on it,
[13:34] {Threei} so CRT, no matter how old, will do while it's working
[13:34] {Threei} it's 6 years old
[13:35] {Threei} and it doesn't give me ay reasong to throw it out
[13:35] {BillyD} go dump it in nemo's front yard
[13:35] {BillyD} and say Merry Xmas
[13:35] {Threei} uhhu
[13:36] {Threei} let me pick someone without rifle on his lap for that
[13:36] {nemo} was sighting in the muzzleloader yesterday
[13:36] {ese} anyone here ever play penny stocks.......i'm reffering to PEIX in particular
[13:37] {nemo} RIMM C&H (sorta') forming
[13:37] {Threei} can ypu believe it's that same PEIX thast used to be a darling of ethanol plays?
[13:38] {Threei} trading in 20s, 30s
[13:38] {ese} ya i know
[13:38] {Les} FAZ at support. b/d?
[13:38] {Threei} sic transit gloria mundi
[13:38] {Les} forget it
[13:38] {patience} made 46k on peix
[13:38] {ese} been following it for a long looks positive for it and it looks like it could be on the mend
[13:38] {strider} ese, I've got one that I keep to remind me of my blown stop days.
[13:39] {strider} REAL
[13:39] {patience} sold it around 46 bucks
[13:39] {patience} i should go look at the chart
[13:39] {ese} Peix patience
[13:39] {Threei} just make sure you are OK with nightmares for a week after looking at that chart
[13:39] {patience} held it for weeks, wasn't a scalp :)
[13:39] {strider} REAL is a deal...only .013 per share.
[13:40] {ese} ya a real deal!
[13:40] {strider} How much you want?
[13:40] {ese} nothing's been on my radar for about 3/4 yrs
[13:41] {ese} peix that is
[13:41] {strider} Damn. Thought I had a buyer.
[13:41] {patience} ese, it was the hot stock in hot sector
[13:41] {patience} notice i don't trade it anymore
[13:41] {ese} yup
[13:42] {ese} what can i say....time on my hands this morning.......looking around to much
[13:42] {Threei} investors graves are scatterted all along the PEIX chart
[13:42] {Threei} I know the look of these charts
[13:43] {Threei} it's a typical progression
[13:43] {Threei} ah it's such a great sector, idea, company
[13:43] {ese} wheres it headed vad?
[13:43] {Threei} oh they shake out weka hands
[13:43] {Threei} they won't fool me
[13:43] {Threei} they are not getting my shares cheap
[13:43] {Threei} OK, too late to sell it now
[13:43] {Threei} might as well hold it
[13:44] {Threei} hey, it's a great buying opporetunity, I think I'll get more
[13:44] {BillyD} it's gonna come back
[13:44] {Threei} damn, they just won't let it move
[13:44] {Threei} it's gonna come back, we have oil shrtage
[13:44] {Threei} farmers won't let it die
[13:45] {patience} oil is gonna stall at 100
[13:45] {Threei} politicians will support it
[13:45] {BillyD} best one: it can't go any lower
[13:45] {Threei} yes, that
[13:45] {Threei} it can't go any lower
[13:45] {Threei} OK{ it goesa into my special account, my grandchildren will thank me some day
[13:45] {strider} hahahahaha
[13:45] {nemo} nuva vad
[13:46] {Les} I had brief experience of this action playing with Spongetech
[13:46] {patience} related to spongebob?
[13:46] {nemo} rim shot please
[13:46] {patience} sorry, i am getting bored
[13:47] {nemo} take a nap
[13:47] {strider} NUVA cc at 5:30
[13:47] {patience} can't, i have 2 trades open
[13:47] {strider} scratch..was 5 days zgo.
[13:47] {strider} sorry. Old info.
[13:47] {Threei} NUVA looks right nemo
06[13:47] * strider slaps strider around a bit with a large CALENDAR
[13:48] {strider} stop at .40?
[13:49] {Threei} just under yes
[13:51] {strider} out +.14, thanks nemo
[13:52] {nemo} yw
[13:52] {nemo} thank Vad...He gave it the "In Nomine Patre"
[13:54] {Threei} lol
[13:55] {strider} Patri
[13:55] {nemo} thanks, I forget
[13:55] {Threei} Billy, to your comment about my desk:
[13:55] {Threei} 'If a cluttered desk is the sign of a cluttered mind, what is the significance of a clean desk?'
[13:55] {strider} empty mind
[13:55] {nemo} a lobatomy?
[13:56] {strider} actually, it's patris. genitive case
[13:56] {nemo} yep
[13:56] {strider} pater,, patris, patri, patrem, patre... can someone check me on that.
[13:57] {nemo} google it
[13:57] {strider} I WILL NOT!
[13:57] {nemo} fine
[13:57] {nemo} My latin texts are in a box in the attic
[13:58] {nemo} then there's the problem of which attic
[13:58] {strider} Mine are on a shelf right behind me.
[13:58] {nemo} wtf
[14:00] {strider} Quid fute!
[14:00] {Threei} SEED sharp dibe
[14:01] {Threei} dive
[14:01] {Les} ah someone mentioned the desk. thought it best to keep my own counsel on that clutter
[14:01] {Moose} no kidding
[14:01] {Threei} Market Internals update at 2:00pmET
[14:01] {Threei} - NYSE volume 540M shares, about 24% below its three-month average; decliners lead advancers by 1.5:1.
[14:01] {Threei} - NASDAQ volume 1.15B shares, about 21% below its three-month average; decliners lead advancers by 1.7:1.
[14:01] {Threei} - VIX index +1% to just over 25.00
[14:01] {nemo} I was think 12.32 short, but thought this momo play dangerous
[14:03] {larisa} looked at dt too. potential was not much though
[14:04] {BillyD} Vad to your desk comment: the mind is only as good as the navigator
[14:05] {Threei} for cosmo it'd mean Nestcape
[14:05] {BillyD} lol
[14:06] {Threei} I think he was using long after everyone on Earth forgot the very name, lol
[14:06] {strider} PLA
[14:07] {strider} the bunny play
[14:13] {Moose} now what?
[14:13] {nemo} what what?
[14:19] {nemo} RIMM C&H
[14:20] {Threei} remember our Friday QLTI play?
[14:20] {Threei} thing is alive again
[14:20] {nemo} I wasn't here
[14:20] {BillyD} took it off screen earlier
[14:21] {Threei} CAAS momo...
[14:21] {Threei} I wish it was not so thin
[14:21] {BillyD} yeah
[14:21] {BillyD} and jumpy
[14:21] {BillyD} pace changer
[14:30] {Moose} do we have a list of "usual suspects" watched daily?
[14:30] {Threei} yes but it's changing
[14:31] {Threei} for instance HIG used to be on the list for quite a while
[14:31] {Threei} then it started misbehaving
[14:31] {Moose} where can I obtain the list?
[14:32] {Moose} list here maybe :)
[14:32] {Threei} I am very tgempted to come up with this huge misterious story
[14:32] {Moose} lol
[14:32] {Threei} about list being locked in a case chained to someone's hand
[14:32] {Threei} guarded by hiredninja
[14:32] {Moose} a russian guy?
[14:33] {Threei} but... RIMM, AIG, CAT,
[14:33] {Threei} momo plays that come and go
[14:33] {Threei} HIG, SEED, NLST
[14:33] {Les} I've only been here a month Moose and the names have changed
[14:33] {Threei} now and then some stocks stay with us for weeks
[14:33] {Threei} or days
[14:33] {Moose} ok thx
[14:34] {Threei} like last summer favorite, UAUA
[14:34] {Threei} or last fall DRYS
[14:34] {Threei} and I was this close to calling AIG tghe love of my life
[14:34] {Moose} heh
[14:34] {Threei} when darn thing changed its ways on me
[14:35] {Les} will we get to play some more reverse splits next year (or whatever they call what they did to AIG during summer)?
[14:36] {Threei} if they decide to revive the likes of C, FRE, FNM...
[14:36] {Threei} ABK
[14:37] {Threei} look at CAAS
[14:37] {Threei} momo is momo is momo
[14:38] {Moose} both ways!
[14:40] {Les} what's AIG doing Vad? bounce and more breakdown?
[14:40] {Threei} reverse split is two-sided coin...
[14:40] {Threei} more oiften than not it;'s a kiss of death
[14:40] {Threei} I have no idea les
[14:41] {Threei} you want me to predcit what happens next
[14:41] {Threei} that's not how my thinking works
[14:41] {Threei} well, providing I have any
[14:41] {Les} no, just wondering if you can see ticker movement
[14:41] {Threei} I see it
[14:41] {Threei} how does it allow to answer your question?
[14:41] {Les} aah a comedian
[14:42] {Threei} better think what else is there in what I said, aside from standing joke
[14:42] {Les} dunno. has it bottomed out?
[14:43] {Threei} let's try again
[14:43] {Threei} ticker shows what happens this very second,
[14:43] {Threei} chart shows what happened before
[14:43] {nemo} could play short double bottom or break long, but it's staying udner trend lines les
[14:43] {Les} thank you nemo
[14:43] {Les} :P
[14:43] {Threei} you ask what is going to happen next
[14:43] {Threei} but I don't think in these terms at all
[14:44] {nemo} probabilities, no certainties
[14:44] {nemo} like marriage
[14:44] {Threei} I use chart and ticker in order to spot recognizable situation
[14:44] {Threei} and I have pre-canned reposnses
[14:44] {Threei} to those situations
[14:44] {Threei} whatever happens - happens, it doesn't matter
[14:44] {Threei} call it fatalistic trading
[14:44] {Threei} my responses are built on odds
[14:45] {Threei} in a long run those odds will work for me
[14:45] {nemo} don't call yourself odd, Vad...
[14:45] {Threei} without guarantee of success in any given case.
[14:45] {Threei} just being honest nemo
[14:45] {Les} yes I sh
[14:45] {nemo} it's what it implies about me
[14:45] {Les} yes I should know that now
[14:45] {nemo} fcx very close to support here
[14:46] {Les} I have your 7 setups pasted on the table
[14:46] {Threei} see now why I have troubles answering what AIG is doing, oputting bottom, or justg bouncing before breaking down again?
[14:46] {Threei} now,
[14:46] {Threei} let me show you how the question should be shaped up
[14:46] {Threei} so I could answer it
[14:46] {Threei} in terms of my way of thinking.
[14:46] {Threei} what sghould AIG do for this to be a bounce or a breakout?
[14:47] {Threei} and here is my immediate answer, as it would be a few minutes back:
[14:47] {Threei} consolidate under .45, let's say not losing .30, and break .45 - and we have a long play
[14:47] {Threei} or
[14:47] {nemo} we're getting volume characteristics for db here
[14:48] {Threei} return under .30,
[14:48] {Threei} consolidate between .30 and .15
[14:48] {Threei} and break .15 for a short play
[14:48] {Threei} see now how this way of thinking works les?
[14:48] {Threei} and becomes instructional?
[14:49] {Threei} it takes you our of realm of prediction
[14:49] {Les} y. so can we play it?
[14:49] {larisa} lol
[14:49] {Threei} and gets you into universe of standard responses to standard situations
[14:49] {nemo} and don't forget the market
[14:49] {Threei} where you stay a detached observer
[14:49] {Threei} cold as cucumber
[14:49] {Threei} emotionally I mean
[14:50] {nemo} well, I've been described as "unhinged"
[14:50] {nemo} is that detached?
[14:50] {strider} good call nemo.
[14:50] {nemo} on what? self reference?
[14:50] {larisa} on FCX :)
[14:50] {strider} fcx
[14:50] {Threei} that's how "trade what tyou see, not what you think" manifests itself in your actions
[14:50] {nemo} oh, shit, I was paying attention to vad
[14:51] {Moose} lol
[14:51] {Threei} by now you should know better nemo
[14:51] {larisa} me too, missed AIG at .15 for scalp :) vad needs to keep quiet
06[14:51] * nemo never heard a moose laugh before
[14:51] {Threei} sorry
[14:51] {Threei} I will
[14:51] {Threei} from now on
[14:51] {larisa} lol
[14:51] {nemo} rotfl
06[14:51] * Threei shuts up fo the week
[14:51] {strider} oh, no. Now he's gonna wanta go home.
[14:52] {nemo} nice going Lari
[14:52] {Moose} :/
[14:53] {larisa} it was a joke btw vad, do not hope for break like that :)
[14:53] {Les} sorry. money lost due to my needs. Will buy a round of drinks when I make it to Bahamas
[14:53] {nemo} you hurt his feelings...he's sensitive
[14:53] {Threei} sorry Larisa, too late - I have no sense of humor
06[14:53] * nemo passes vad a tissue
[14:53] {Threei} and yes, I am very sensitive... sniff sniff
06[14:54] * Threei looks around from under his palm to see if his act is being bought
[14:54] {nemo} interesting, market weakened, but aig holding
[14:54] {Moose} SEED
[14:55] {Threei} it's not holding nemo, it's consol,idating
[14:55] {nemo} fine
[14:55] {nemo} tomato tomahhhhto
[15:00] {Moose} test
[15:00] {Threei} SEED is quite something
[15:07] {BillyD} can't seem to nail the one explosive move on it
[15:08] {BillyD} or any move for the most part
[15:09] {Threei} no other way to do it but get a feel
[15:09] {Threei} they don't obey technicals
[15:10] {nemo} actually, seed gave to beauties off 12.25 and .65 look at the volume configurations
[15:12] {Threei} true
[15:12] {nemo} ty
[15:13] {Threei} see, I better do what I promise and shut up
[15:13] {nemo} of course, one would question the validity of such a setup when the stock has been momo
[15:16] {Les} cat
[15:17] {Les} ignored CAT upper range movement to my detriment. Thought it was going to drop back down.
[15:18] {Les} ah I see spy exploding
[15:18] {larisa} momo players use technical indicators too, i would think. i do not believe they trade with their feelings only, it would be hard :) "Momentum" indicators do exist.
[15:18] {nemo} does Mags have feelings?
[15:18] {larisa} this is what i am thinking about :)
[15:18] {larisa} not sure how he trades
[15:19] {Threei} anyone finding the way to read such plays, feel free to share
[15:19] {BillyD}
[15:20] {Threei} to me precise in what I see as major difficulty with them:
[15:20] {Threei} to be
[15:20] {Threei} they most often spikes out of nowhere after quiet period of sitting near some support level
[15:20] {Threei} in practice it means that in order to be in such play early,
[15:21] {Threei} you have to enter before any momentum indicator shows anything
[15:21] {Threei} and the sheer speed of those spikes is such that no sane amoun t of chasing is possible
[15:22] {Threei} remember we discusased this manner of spiking on AIG a week or two ago?
[15:22] {Threei} then SEED did pretty much the same quite a feww times
[15:22] {Threei} including today,
[15:22] {Threei} 14:37 and on
[15:23] {BillyD} AMZN
[15:24] {strider} For the magoo plays, would be helpful to enter early, and set stops on both sides of trade.
[15:24] {strider} auto stops
[15:24] {strider} ??
[15:26] {Threei} I am at loss about how to answer it
[15:26] {strider} Did I say something stupid?
[15:26] {Threei} no
[15:26] {Threei} I mean
[15:26] {Threei} I see no obvious connection between these plays and auto stops,
[15:27] {nemo} that was a fat pitch
[15:27] {Threei} and I see the most difficulty with how to find the right entry
[15:27] {Threei} which is not connected to auto stops
[15:27] {strider} oh yeah...there's that.
[15:27] {Threei} so either I don't understand what connection you mean
[15:27] {Les} vad, AMZN!
[15:28] {nemo} or it's as he said
[15:28] {Threei} or you are trying to resolve something other than what I see as main problem
[15:28] {strider} Well, I guess I see the big problem as being getting out on a spike, up or down.
[15:28] {strider} The kind that last half a second.
[15:28] {strider} That's just my particular weakness right now.
[15:29] {strider} Taking the money while it's available.
[15:29] {Threei} magoo solves it by laying out his exit in advance
[15:29] {strider} IOW, putting an offer in.
[15:29] {Threei} but it's not even the only way to do it
[15:29] {strider} ?
[15:29] {Threei} yes
[15:29] {Threei} try this:
[15:30] {Threei} let's say you feel tou are happy with exit at .20,
[15:30] {Threei} stock is spiking into there
[15:30] {Threei} you have price in your ordr bar at .10
[15:30] {Threei} and cursor hovering over Sell
[15:30] {Threei} Limit sell of course
[15:30] {Threei} stock is spiking to .20 and pausing
[15:30] {Threei} you click
[15:31] {Threei} you will swipe .19, .18
[15:31] {Threei} if it's not pausing you don't click
[15:31] {Threei} but you are just as rfeady, and the moment it stalls you click
[15:31] {Threei} wherever it happens
[15:32] {strider} OK} if you're that far away from inside market with your order when you click, why not just use market order?
[15:32] {strider} Will it make a differencce?
[15:33] {Threei} seriosly willing to risk the situation where if you are just a tad late, bids get pulled and you get filled at .00, only to see it immeiately spiking back to .10?
[15:33] {Threei} I don't suggest 10 cents per se,
[15:33] {Threei} I am describing situation where you buy at .10
[15:33] {Threei} stock spikes very fast
[15:33] {Threei} so you don't even have tiome to change the price
[15:34] {Threei} btw, look at another SEED spike from 13.20
[15:34] {Threei} vertical from there... I really don't see any indicator helping with that
[15:39] {larisa} around 15:30?
[15:40] {strider} All I see is that there's really no enthusiasm for selling.
[15:40] {strider} Hence an upside bias.
[15:42] {Threei} yes larisa
[15:42] {strider} my comment refers to the few minutes prior to the spike.
[15:42] {nemo} I just see volume gradually increasing into the price rise, and then it hops up over the bb ma
[15:49] {nemo} stt and hig goosed out of nowhere
[15:50] {Moose} BUCY making nice move up
[15:52] {Les} the jig is up on this session. night all.
[15:53] {Moose} adios Les
[15:53] {Threei} take care Les
[15:54] {Moose} scalped a little BUCY
[15:56] {Threei} okay guys, not too bad start for the week
[15:57] {Threei} thank you all
[15:57] {Threei} have a good evening, see you tomorrow
[15:57] {nemo} c u
[15:57] {Moose} thanks to you
[15:57] {Moose} cya
[15:57] {strider} thanks vad...
[15:57] {larisa} bye :)
[15:57] {lasertrev} see ya Vad

Friday, November 27, 2009

Nov 27 2009

Early bird registration discount for the Bahamas conference runs till November 30. Register here!

Short session worked out for us with three nice and easy scalps: QLTI long, FAZ long, FAZ short... Relaxed way to finish the week and go into weekend.

Session Time: Fri Nov 27 00:00:00 2009

[08:19] {BillyD} GM all
[08:34] {strider} anybody awake?
[08:34] {BillyD} here S
[08:36] {strider} Hi billy
[08:37] {strider} fxp
[08:37] {strider} sorry..wrong keyboard
[08:44] {Les} morning.
[08:45] {Les} or afternoon, depending on your persuasion
[08:47] {Les} so, not such a boring day after all...
[08:50] {Threei} Good morning
[08:51] {Threei} BLTXX UPDATE: Baltic Dry Bulk Index: drops 3.5% (6th straight decline)
[08:51] {strider} morning vad........erp
[08:51] {Threei} wow, 3.5
[08:51] {Threei} strider :)
[08:51] {Threei} JP) Japan Strategy Min: Japanese govt and BoJ will deal with the yen currency together
[08:51] {Threei} - says BoJ recognizes Japanese deflation and knows what to do about it
[08:51] {Threei} good for them
[08:51] {Threei} noone else does
[08:52] {Threei} (FR) France PM Fillon: Resources in Dubai region will ensure problems do not become a second crisis; current issue in Dubai is a continuation of old issues
[08:52] {Threei} (GE) Germany Bundesbank Exec: Economy will 'barely' grow after the year 2020
[08:52] {Threei} hmmm
[08:53] {Threei} what is it going to do between now and then ?
[08:53] {fernp} Good morning everybody
[08:53] {Threei} fern :)
[08:53] {Threei} USD/UAH (UA) Ukraine Dept Central Banker: Could purchase USD in efforts to avoid volatile currency gains
[08:54] {Threei} beautiful... their buying of all of 6 dollars they can buy will rwally support USD
[08:54] {Les} well they can siphon off Russian gas illegally to buy US dollars?
[08:55] {Threei} yes, that may lift their purchasing power to $6.72
[08:55] {Threei} IA) IAEA Envoy: Patience is running low with Iran; cannot continue repeated rounds of unsubstantiated talks
[08:56] {Threei} US) Retail Analyst Dana Telsey: Forecasts holiday sales "flat to slightly up" this year -CNBC
[08:56] {Threei} - Notes that "Black Friday" sets the tone for the holidays
[08:56] {Threei} (IA) Iran says UN resolution jeopardizes condusive environment for discussions
[08:56] {Threei} - Iran will reduce 'goodwill gestures' with IAEA inspectors; studying other options for Tehran research reactor
[08:57] {Les} hmm Ukraine looks like good value in curreny exchange. Anything you can suggest we should go see in Ukraine?
[09:01] {Threei} well... Kiev is a nice city, some of ancient monasteries
[09:02] {Threei} famous Kiev-Pecher Lavra
[09:03] {Les} ouch. the flights aren't cheap though...
[09:04] {Les} bloody european airlines, charge an arm and a leg
[09:04] {Threei} you are kidding
[09:04] {Les} Ukraine got an airline?
[09:04] {Threei} in Canada it's a common knowledge that ours are the most expensive, and Europian ones are cited as example of cheap onwe
[09:04] {Les} ha
[09:05] {Threei} they do
[09:05] {Les} I want to travel to the US, if naught else you can get good flight deals with the US airline industry
[09:05] {Les} during off peak periods
[09:05] {Threei} US used to be cheap
[09:05] {Les} waiting for $ to go somewhat lower
[09:06] {Threei} not anymore, there are a lot of fees and charges for every sneeze
[09:06] {Les} common pheonomena here as well
[09:06] {Les} how do you look at today's opening?
[09:06] {Les} PPT markup coming?
[09:06] {Threei} with passing interest
[09:06] {Les} or big selloff?
[09:06] {Threei} why PPT?
[09:07] {Threei} I mean, is there buying that is not of PPT making?
[09:07] {Threei} or any time market gets bought it must be PPT?
[09:09] {Les} thinking more along lines of maintaining confidence
[09:09] {Threei} just interesting how everyone thinks PPT is capable of anything
[09:10] {Threei} and attributes to it any time dropping market gets bought
[09:10] {Threei} if they really had such overarching powers, how come we got such a brutal selloff a year ago?
[09:10] {Threei} destroying confidence, capital, lifes
[09:11] {Les} 'cause they don't have power of god
[09:12] {Les} buy we do know how to cover our bottoms when the *%it hits the fan
[09:12] {Les} and as we see in Dubai, we're still covering our bottoms
[09:12] {Threei} wasn't last fall the crucial time to cover those bottoms?
[09:12] {Threei} I don't even know what the big deal about Dubai is
[09:13] {Threei} extravagant real estate projects that were questionable even at best times
[09:13] {Threei} blow up in bad times
[09:13] {Threei} not really big financial scaleww
[09:13] {Threei} what is it, 60B?
[09:14] {Threei} I see it this way:
[09:14] {Threei} this Dubai thing is either and excuse to finally start the descent
[09:14] {Threei} or just a trap for bears that see a glim of hope
[09:15] {Les} a trigger or a trap?
[09:15] {Les} hmmm ok
[09:15] {Threei} no one at this point know which it is
[09:15] {bkhmd} gm all
[09:15] {Threei} bkh :)
[09:15] {Les} hey bk
[09:16] {bkhmd} stalking anything?
[09:16] {ese} morning
[09:16] {Threei} ese :)
[09:17] {Les} ese
[09:17] {Threei} thinking of shorting financials into bounce
[09:17] {Threei} WFC is one of those
[09:17] {fernp} PCU, OGE and SPH nice C&H on daily fwiw
[09:17] {ese} les
[09:17] {Threei} FAZ on watch
[09:18] {ese} whats up with the mkt vad.....don't see any news
[09:19] {larisa} gm :)
[09:20] {ese} larisa
[09:20] {Threei} larisa :)
[09:20] {Threei} Dubai ese
[09:20] {larisa} ese, vad :)
[09:20] {Threei} was all over the news yesterday
[09:20] {ese} what happened there......
[09:20] {ese} don't get tv or the news
[09:21] {Threei} dfeault on debt
[09:21] {ese} huh
[09:21] {ese} really
[09:21] {ese} the entire flippin country
[09:22] {Threei} well, Dubai is one of little states within UAE
[09:22] {Les} that beautiful Dubai property scheme they were crowing to the whole world about a few years ago....
[09:22] {Les} is in the toilet.
[09:22] {Les} how that is justice.
[09:22] {ese} yup.....meaning ...of course....the rest of them are probably in default
[09:22] {Threei} I doubt it
[09:23] {Threei} the rest have oil
[09:23] {Threei} Dubai has extravagant real estate projectsa
[09:23] {ese} and dubai doesn't
[09:23] {BillyD} who does Dubai owe money to then? rest of world?
[09:23] {ese} american banks
[09:23] {Les} HSBC
[09:23] {Les} hahaha
[09:23] {Threei} I don't know... but this is interesting question
[09:24] {Threei} everfy time I hear that all the states in the world are in debt, I can't help but wonder
[09:24] {Threei} if ALL of them owe money, who do they owe it to
[09:24] {Threei} and if all of them owe money, then let's just call it even and start anew maybe? :)
[09:24] {strider} Pay no attention to the man behind the curtain.
[09:24] {BillyD} or, is this newss mkt needs as a reason to sell off
[09:25] {dino} gm all
[09:25] {Threei} on top of it all, to add uncertainty - it's a short session
[09:25] {Threei} dino :)
[09:26] {BillyD} stuff like this just proves "Trading in the Zone" book by Douglas
[09:27] {BillyD} mkt dynamics
[09:27] {dino} citi is on the hook for some thats the big us bank involved
[09:27] {strider} skf
[09:27] {strider} keyboard's mixed up
[09:28] {dino} should have held that gdx short
[09:28] {Threei} yeah
[09:28] {dino} lstza blood
[09:28] {Threei} gold is hit hard
[09:28] {Threei} so is oil
[09:29] {Threei} and thank goodness, loonie
[09:29] {dino} vxx
[09:30] {Threei} let's see if we can get good entry on FAZ
[09:31] {Threei} pullbck under .30
[09:31] {Threei} or break of .40 if .30 is holding
[09:32] {Threei} if loses .30, don't jump in
[09:32] {Threei} let's see where it bottoms out
[09:32] {Threei} then wait for it to form upper limit
[09:32] {Threei} and break it
[09:33] {Threei} so far .30 is forming as break trigger
[09:33] {dino} gaps filled ndx and s/p 11-13 and 11-20
[09:33] {dino} remaing in nov. 11-6; 9936, 1730, 1069.
[09:33] {Threei} Long Setup: FAZ .30 break if holding .20
[09:34] {bkhmd} my quotes correct? DOW -19X?
[09:34] {Threei} 197
[09:34] {Threei} invalidated
[09:35] {Threei} Long Setup: QLTI .65
[09:35] {Threei} if holding above .50
[09:36] {lasertrev} gm
[09:36] {Threei} trev :)
[09:37] {magoo} morn..hoope all had nice holiday
[09:38] {Threei} Long Setup: FAZ .85 break if holding .75
[09:38] {Threei} mags :)
[09:39] {Threei} 1:1 FAZ
[09:39] {fernp} ty
[09:39] {bkhmd} ty
[09:39] {Threei} MGM MIRAGE CNBC's Faber: Sources saying that there is little concern about funding link between Dubai World and MGM's City Center project; City Center has now been fully funded
[09:39] {Threei} - Note: on 11/25 MGM Commented on the Dubai announcement and highlighted that it would have no impact on its CityCenter project
[09:41] {Threei} wat6ching LVS for pullback
[09:43] {Threei} would like to see something like .30 - .40 to get interested
[09:44] {Les} why? is it because of this consolidation zone offering support?
[09:45] {Threei} that would be depth of pullback likely to generate enough buying inetrest again, and it would be close enouigh to support for provide good stop
[09:45] {Les} k
[09:47] {strider} out QLTI +.12
[09:47] {fernp} ty Vad
[09:48] {Threei} 1:1 QLTI
[09:48] {Threei} nice and easy
[09:48] {Threei} never even went under entry point, let alone jeopardizing the stop
[09:48] {Threei} that's how I like them
[09:48] {strider} yeah,, let's just do that kind from now on.
[09:49] {Threei} we need Trev to implement that "do not entry losing trades" button
[09:49] {Threei} do not enter
[09:49] {Les} so Trev is one of "them" is he?
[09:49] {strider} It's the executing mode button in menu bar.
[09:50] {Les} so how do you see LVS now Vad?
[09:50] {Threei} the same
[09:50] {Les} amateurs moved in first thing to buy it up?
[09:50] {Threei} I want good pullback
[09:50] {fernp} HD seems strong
[09:50] {Threei} why amateurs?
[09:51] {Threei} maybe amateurs panicked with their market sell orders,
[09:51] {Threei} and prose are taking advantage of pullback?
[09:51] {Threei} merrily buying from weak hands?
[09:51] {Les} just trying to define how LVS is moving, breathing?
[09:51] {Les} no question mark
[09:54] {ese} haven't seen this before on my screens.....not one alert on Euphoria or JBE ....interesting
[09:54] {strider} Wal-Mart wins Canadian Supreme Court ruling on union suit, Bloomberg reports
[09:54] {strider} Now canucks can buy union suits.
[09:54] {strider} obscure joke....maybe nobody gets it.
[09:54] {Threei} Wal-Mart Stores Inc Canada Supreme Court rules in favor of WMT in suit brought by union over Quebec store closing
[09:54] {Threei} - WMT asked the court to deny a lawsuit that sought to restrict store closings when employees join unions, taking a stance against Quebec's Labor Relations Act. Union workers sued under the Act after Wal-Mart shut their store.
[09:55] {dino} esi sm l .51
[09:55] {Threei} good
[09:55] {Threei} HBC CEO: Confident in Dubai leadership in debt issues; Middle east is an important part of business
[09:55] {Threei} - highlights that the Middle East aspect of their business is only 2% of balance sheet
[09:56] {ese} yup....definitely don't get that one ST......explain
[09:56] {strider} Union suit was the brand name of an old style of long underwear......
[09:56] {ese} ahhhhhhh
[09:56] {dino} lol
[09:56] {strider} Appalachian thing
[09:57] {Raven} thang
[09:58] {strider} exactly.
[10:00] {ese} l appl .50
[10:00] {ese} 1/2
[10:01] {ese} out appl .82
[10:02] {ese} +.32
[10:02] {ese} and i know it will keep going
[10:02] {ese} this is one of them don't get greedy days
[10:02] {Threei} totally
[10:02] {Threei} short day
[10:02] {Threei} can change on a dime
[10:03] {dino} gj es
[10:03] {ese} tks
[10:04] {bkhmd} ese was that appl or aapl?
[10:04] {ese} sorry aapl
[10:05] {ese} the guys who sold me my computer
[10:06] {ese} opps....some jbe alerts on my screen
[10:07] {ese} apwr
[10:07] {ese} was looking at it at .60
[10:07] {ese} didn't have the nerve
[10:09] {Les} for anyone who wants to see what "Dubai" is about - some good pics:
[10:11] {magoo} AWIAV?
[10:12] {fernp} no
[10:13] {magoo} AWIAF? lol
[10:14] {dino} apwr?
[10:14] {ese} wow...
[10:14] {Threei} US Official: US has committed to a package of initiatives on Iran if it does not engage with regards to Nuclear enrichment
[10:15] {ese} i've seen pictures of the water development in the shape of a tree......Mcleans magazine here in canada
[10:16] {ese} packages of initiatives?
[10:16] {Threei} finger-wagging I'd guess is on top of the list
[10:17] {BillyD} CBAK interesting
[10:17] {ese} vad vad vad.........your a funny one you are.......
[10:17] {dino} most likely 3i, and then the classic 500 million bonusif you cooperate
[10:17] {Threei} call me sardonic
[10:18] {strider} sardo
[10:20] {Threei} APWR acts like endless runner
[10:20] {Threei} and I see no news
[10:20] {Threei} one of those grossly exaggerated moves that happen sometimes on a holiday
[10:21] {dino} china doubled budgetenviro budget and possible add toibd 100 index apwr
[10:21] {ese} ya and the news ain't that great.....go figur
[10:22] {ese} l aapl .49
[10:23] {ese} ok out aapl .37
[10:23] {ese} you'll not believe what i just did........
[10:24] {bkhmd} +.37 or out at .37
[10:24] {Threei} drunk whole bottle of vodka and eate the bottle itself?
[10:24] {ese} had the mkt order ready was gonna do it it it broke .50
[10:24] {ese} next thing i know i'm long
[10:25] {ese} inadvertently bought it....damn
[10:25] {ilana} happened to me a few times with limit order as well
[10:26] {ese} i hate it when that happens.....just cost me .12 cents
[10:26] {bkhmd} big shares?
[10:26] {dino} ever hit the sell button and realize you were looking at wrong stock? i have
[10:27] {ese} well i guess if they can stupidly build beyond there means in dubai.......i can stupidly press a button by mistake
[10:27] {ese} no bk 1/2 lot
[10:27] {BillyD} yes dino, cost me 6K 10 yrs ago
[10:28] {bkhmd} ur half lot is couple K? lol
[10:28] {ilana} ever forget you're short and press sell button when wanted to cover? i have
[10:28] {ese} normally.........but not today......
[10:29] {Threei} that's actually a frequent error
[10:29] {ilana} whew, relief
[10:29] {ese} really
[10:29] {ese} i can't remember the last time i did it
[10:29] {Threei} for many who traded mostly on a long side, have ingrained notion of sell as close the trade
[10:29] {Threei} and started trying shorting
[10:30] {ese} hmmmmmmm
[10:30] {ese} ya i can see that
[10:33] {Les} NLST ready to give us a short?
[10:33] {Les} or a bounce?
[10:34] {dino} esi stop to .20
[10:34] {dino} make it .22
[10:34] {Threei} i don't see anything readable on NLST
[10:35] {Les} ok. AONE is soldiering on higher
[10:35] {dino} to .30
[10:37] {dino} to .35
[10:37] {ese} gap reversal screen alerts filling up
[10:37] {ese} guess panic over dubai is over
[10:37] {dino} until they figure out off balance sheet and counter-party exposure
[10:38] {dino} january should be interesting
[10:38] {BillyD} watching RIMM to see if short setup at 58
[10:39] {Threei} Short Setup: FAZ .60 break
[10:39] {ese} i'm thinking Jan is going to be real interesting
[10:39] {Threei} if stays under .70
[10:39] {ese} down big is what i'm expecting
[10:40] {Threei} fade is a valid trade too
[10:41] {dino} out esi .37, +.86
[10:41] {bkhmd} Dino come trade my account WOW Good Work Dude
[10:43] {dino} thx lucky thats all
[10:44] {Threei} lol
[10:44] {ese} l drys .17
[10:44] {Threei} it's a double luck then dino: luck to win and luck to have such a consistent luck
[10:45] {ilana} after how many times luck considered success?
[10:45] {bkhmd} Ok vad lets go back to wednesday and re-vote
[10:45] {Threei} that's a question to be answered at deathbed
[10:45] {Threei} why bkh?
[10:45] {bkhmd} no I understand why you suggested it
[10:46] {bkhmd} slow
[10:46] {Threei} well, we have 2 for 2
[10:46] {bkhmd} yes
[10:46] {Threei} so it was worth waking up
[10:47] {bkhmd} i agree with that
[10:47] {Threei} and you know what... let's trail FAZ to above b/e
[10:47] {Threei} we are close enough to 1:1
[10:47] {Threei} let's cut the risk to idiotically small
[10:48] {strider} out +.008
[10:48] {strider} 08
[10:48] {Threei} 3 for 3 then for you
[10:48] {strider} only taken two trades....
[10:49] {strider} QLTI & FAZ
[10:49] {strider} missed something
[10:49] {Threei} FAZ long earlier
[10:49] {Threei} FAZ short now
[10:49] {strider} yeah...
[10:49] {Threei} and QLTI
[10:49] {Threei} so, let's see
[10:49] {Threei} FAZ+FAZ+QLTI
[10:50] {Threei} yeah, three
[10:50] {bkhmd} lol
[10:50] {dino} distracted. but as for the luck, in this market i believe that profits are luck, losses are skill. too random intraday
[10:52] {BillyD} Vad, when u said fade idea on FAZ short call were you talking buying of short aggressive into the bounce before break down
[10:52] {BillyD} or short aggressive
[10:52] {Threei} no
[10:52] {dino} have to call it a day, taking mon. and tues. off. good luck all
[10:52] {Threei} fade as in:
[10:53] {BillyD} cya dino
[10:53] {Threei} take the opposite side of the setup if it invalidates
[10:53] {bkhmd} take it long
[10:53] {fernp} bye dino
[10:53] {Threei} take care dino, have a good weekend
[10:53] {bkhmd} later dino
[10:53] {Les} ciao dino
[10:53] {dino} :)
[10:53] {Les} wanted to ask you about that Vad
[10:53] {BillyD} ok, got it
[10:53] {Threei} so it would be long on .70 break if never lost .60
[10:53] {Threei} when, finally
[10:53] {fernp} out TY Vad
[10:53] {Threei} out FAZ
[10:53] {Les} ty
[10:53] {Threei} .49
[10:53] {Threei} 3 for 3
[10:54] {Les} ty for the trade and explaining fade move
[10:54] {Threei} sure thing
[10:59] {BillyD} Vad, look at AMZO, nice chart but follow thru is ?
[10:59] {BillyD} AMZN
[11:00] {Threei} I like the chart... had it been normal trading day, I'd call it without hesitation
[11:00] {Les} NLST double top?
[11:00] {BillyD} ty
[11:00] {Threei} or C&H if breaks .50
[11:01] {Les} ah ok
[11:02] {ese} l drys avg .20
[11:03] {Les} CAT found its way back to support again. Impression that someone's supporting this stock. but a setup?
[11:04] {Les} not game today
[11:04] {Threei} support?
[11:04] {Threei} or resistance?
[11:04] {Les} 200 ma on 60 min.
[11:04] {Les} back above
[11:05] {Threei} 58 break was nice legit C&H
[11:05] {Les} gonna stick a big c&h example on edge of my screen...
[11:06] {Threei} (IA) Iran Govt responds to censure; claims resolution by IAEA is of a theatrical nature; 'useless' - state news agency
[11:06] {Threei} hey, first time in my life I agree with Iran
[11:06] {Les} nah, lets bomb em
[11:07] {BillyD} useless rhetoric
[11:11] {Les} you were right vad. double dose resistance 15 min. for CAT. If can break that would like to go long.
[11:11] {Threei} at what price?
[11:12] {larisa} 60 :)
[11:12] {Threei} we have time then
[11:12] {Les} that your trigger price or profit target larisa?
[11:13] {Threei} let me make Larisa's life easier:
[11:13] {Les} CAT stop getting bigger than I wanted.
[11:13] {Threei} {larisa} neither... it's a joke
[11:13] {Threei} I don't undertsnad Les
[11:13] {Threei} describe the play you envision
[11:14] {Les} at moment I spoke of CAT
[11:14] {Threei} yesa
[11:14] {Les} .20 stop
[11:14] {Threei} that's what I am looking at
[11:14] {Threei} which entry?
[11:14] {Les} upon new high
[11:14] {Les} .35
[11:14] {Threei} wow
[11:14] {Les} or .33
[11:14] {Threei} that's an entry I would never go for
[11:15] {ese} ese gives drys forceful nudge with the ictus of directors baton
[11:15] {Threei} this pullback is a valid entry
[11:15] {Threei} that break is not
[11:15] {Les} why?
[11:15] {Les} CAT needs pullback first?
[11:15] {Threei} because it's a top of vertical spike aftre the break
[11:15] {Threei} we buy break of consolidation
[11:15] {Threei} not the break after such spike
[11:16] {ese} thats the pointy part for you musical laymen
[11:16] {Threei} look at 1 min chart'
[11:16] {larisa} 15 and 60 min charts are too long horizon for me. I think for scalping multiple frames will confuse you a lot of times. And what 15min chart player sees as support/res, for scalper can mean opposite. it is like comparing aaples and peaches.
[11:16] {Les} y
[11:16] {strider} ese, you're just talking dirty again.
[11:16] {Threei} 11:03, break of 58, C&H formation
[11:16] {Threei} quick move to above .30
[11:17] {ese} never thought of it that way
[11:17] {Threei} which is 1:3 for that break
[11:17] {Les} y
[11:17] {Les} ok. never thought of it like that
[11:17] {Threei} do you want to go long at 1:3 without new consolidation first?
[11:17] {Threei} if yes, then think of it this way:
[11:18] {Threei} is there any spike you wouldn't want to buy at the top?
[11:18] {Threei} what would it have to be, 1:5? 1:10?
[11:18] {Les} ok so we buy break from consolidation, not an extension of the break itself
[11:19] {Threei} we SELL into those spikes!
[11:19] {fernp} Don't you have TTR?, Les
[11:19] {Les} so that's what I'm doing wrong :O
[11:20] {Les} y
[11:20] {Threei} get back to basics Les
[11:20] {Threei} crowd chases spikes
[11:20] {Threei} spikes reverse on the crowd
[11:20] {Threei} crowd gets creamed
[11:20] {Threei} smart money buys before the spikes
[11:20] {Threei} smart money sells into spikes to the crowd
[11:21] {Les} y. now we speak of it ttr trade examples come back to mind
[11:21] {Threei} smart money trakes crowd's money
[11:21] {Threei} be smart money
[11:21] {Threei} eschew being the crowd
[11:21] {larisa} whats eschew
[11:21] {Les} so with CAT chart in front of me
[11:21] {Threei} two answers larisa
[11:21] {Threei} 1. it's a sneeze sound
[11:22] {Threei} 2. it's a fancy word for "avoid"
[11:22] {Les} where are interesting consolidation zones for you?
[11:22] {Threei} pick what you like :)
[11:22] {larisa} I like both
[11:22] {Threei} you can have both
[11:22] {Threei} it's Thanksgiving, I am kind
[11:23] {bkhmd} Les are you on a one minute chart?
[11:24] {BillyD} Hey guys/gals, have a good wknd, gotta run
[11:24] {bkhmd} later Billy
[11:24] {Threei} take care billy, have a great weekend
[11:24] {larisa} bye Billy :)
[11:24] {Threei} I don't understand the question Les
[11:25] {fernp} bye billy
[11:25] {ilana} bye billy
[11:26] {bkhmd} if I may Les look at the CAT 1 min starting at around 10:20 forward starts a dented ugly cup and handle consolidation just under 58
[11:26] {bkhmd} break of 58 would have been a good start
[11:27] {Threei} beautiful bkh
[11:27] {bkhmd} previous support at 57.89
[11:27] {Threei} perfect description of the setup
[11:27] {bkhmd} with could have given us a fair stop
[11:27] {bkhmd} i wasnt watching it at the time
[11:39] {Threei} market is in its normal freeze
[11:43] {bkhmd} im gonna paper trade and practice range trading
[11:45] {Threei} I am gonna sleep with my eyes open and practice pretending that I am wide awake
[11:45] {bkhmd} toothpics work well
[11:45] {Threei} actually I have it down to art
[11:45] {Threei} trading in my sleep for years and you never suspcted
[11:45] {bkhmd} yes i did
[11:45] {bkhmd} lol
[11:46] {Threei} other than my suspiciously bad typing
[11:46] {fernp} Today I am running Laser in windows 7. Works fine. fwiw :-)
[11:46] {strider} Vad is artistically reclined.
[11:46] {Threei} but I made a point to type just as bad in rare instances when I am awake
[11:46] {Threei} so you can't tell
[11:47] {Threei} fern, the early adopter
[11:47] {strider} fern, do you have a computer dedicated to just Laser?
[11:47] {Threei} I will switch to W7 in a few more versions, lol
[11:47] {fernp} yes
[11:47] {Les} sorry quick taxi trip
[11:47] {bkhmd} DOS rules eh VAD?
[11:47] {strider} I'm still on XP pro.
[11:47] {Les} yes I recognise consolidation break out.
[11:47] {Threei} lol
[11:48] {Threei} XP Pro 64 bit here
[11:48] {Threei} nice, smooth, fast
[11:48] {fernp} Yes I use widows xp 64 too
[11:48] {Threei} what else do I need
[11:48] {Threei} only when they stop supporting it will I consider change
[11:48] {Les} but if CAT had broken through to new highs, that would be chasing for you, would it Vad?
[11:48] {fernp} That happened a month ago, Vad
[11:49] {Les} yes here too. XP until no further support.
[11:49] {Threei} you mean if it broke that .333 area? yes, that would have been a whole lot of chasing
[11:49] {Threei} just as .10 or .20
[11:51] {magoo} SEED boss
[11:51] {magoo} nuts
[11:51] {strider} On Wednesday, however, Microsoft said consumers who still have Windows XP running after April 2009 will be entitled to five more years of "extended support."
[11:51] {strider}
[11:52] {bkhmd} awsomeeeeeeeeeeeeeee
[11:52] {Threei} toughie mags
[11:52] {Threei} no that crazy pace
[11:52] {fernp} Microsoft may have little choice but to support XP for an extended period since most of its business customers have not upgraded to Windows Vista.
[11:52] {Threei} that gives away the momo
[11:53] {fernp} Microsoft Pledges Windows XP Support Through 2014
[11:53] {Threei} cool... 2014 it is
[11:53] {fernp} yeah
[11:53] {Threei} and if they continue making crappy new OSs, maybe even longer
[11:54] {strider} So MSFT will support XP two years after the end of the world...that's dedication to their product.
[11:54] {fernp} lol
[11:55] {fernp} im going to watch that movie tonight
[11:56] {Threei} do you like special effects fern?
[11:56] {fernp} yes
[11:56] {Threei} would you enjoy the movie that is entirely shot for them, and the plot is there only to stitch them together?
[11:57] {fernp} no, i get tired
[11:57] {Threei} hmmm
[11:57] {Threei} then you may not like it as much :)
[11:57] {Threei} but if you suceed in turning your brain off
[11:58] {Threei} and letting your eyes enjoy it
[11:58] {Threei} you wqill l,ove the movie
[11:58] {Les} so its like watching election campaign
[11:58] {fernp} I'll think only in the popcorns...
[11:58] {fernp} lol
[11:59] {Threei} it's a total eye candy
[11:59] {Threei} not mind candy though :)
[11:59] {fernp} i like movies like matrix, plot and effects
[11:59] {Threei} since I am very good at turning brain off, I enjoyed it very much
[12:00] {fernp} one of my favorites movies is The Game
[12:00] {Threei} with Douglas?
[12:00] {fernp} yeah
[12:00] {strider} oh, yeah....,me too, fern.
[12:02] {Threei} tough to pick absolute winner, many are good... but if I absolutely had to, it would probably be Once upon a Time in America
[12:02] {Threei} or Pulp Fiction
[12:02] {fernp} i like that one
[12:02] {fernp} the first
[12:02] {fernp} Once's upon...
[12:03] {ilana} that's my winner too
[12:03] {Threei} US Treasury and Fed to delay internet gambling ban effective date for 6 months to June 1
[12:03] {ilana} watched it 3-4 times and each time get it ifferently
[12:04] {Threei} true
[12:04] {Threei} one ofd those that you perceive differently over the years
[12:04] {Threei} actually, goes for both
[12:05] {Threei} BoA analyst comments on Dubai: markets may be overreacting, but the situation does have some broader implications (timing uncertain)
[12:05] {Threei} - "There is no doubt that this episode has hurt sentiment towards the Gulf, and UAE in particular, and this lack of confidence will make it very difficult for the UAE to issue new debt to finance the approx $21.2B of Dubai World debt maturing in the next three years. Whilst we think the reaction in the markets yesterday may have been an overreaction given the size and relative importance of Dubai to the global economy,
[12:05] {Threei} this episode does have some broader implications. It serves as a stark reminder as to just how sensitive global markets are to bad news, particularly on a thin tape. This will certainly make governments and central banks even more cautious about their stimulus withdrawal and the methods in which they choose to communicate the exit strategies to the market. The market action over the last two days shows that despite the outsized returns since the March lows the market remains ready and willing to punish mistakes."
[12:08] {Threei} US Obama Administration 'monitoring closely' the developments in Dubai situation - CNBC
[12:09] {Threei} lol... demosntrate first that you are capable of monitoring who enters your highly guarded state dinners
[12:09] {bkhmd} he was never in harm
[12:09] {bkhmd} lol
[12:10] {strider} AMZN short?
[12:10] {Threei} no way to tell...
[12:10] {Threei} fairly random
[12:11] {strider} descending triangle
[12:11] {Threei} more or less...
[12:11] {Threei} problem is,
[12:12] {Threei} while upper limit for stop placement is defined quite nicely
[12:12] {Threei} trigger for the tyrade is very fuzzy
[12:12] {Threei} so, we have second part:
[12:12] {Threei} "if stays below .50"
[12:12] {Threei} but what is the first?
[12:13] {strider} .20 looks pretty good to me. No?
[12:13] {magoo} depends also if IF mkt rips up into close or not
[12:13] {Threei} 30 cents stop?
[12:13] {Threei} and count on drop under 132?
[12:13] {strider} yeah
[12:13] {fernp} I told my wife that the film is not very good, and she has thrown me a shoe at head ... I think I'll go to watch it
[12:14] {Threei} and all this on a stock that pretty much depends on the market
[12:14] {Threei} was it a stiletto fern?
[12:14] {fernp} yes
[12:14] {Threei} cool
[12:14] {Threei} it's a very sexy way to die
[12:15] {bkhmd} with film are we talking about
[12:15] {fernp} but i've ... how is your word
[12:15] {Threei} stiletto thrown at your head by a woman with deadly accuracy
[12:15] {Threei} which takes us to another good movie: Kill Bill
[12:15] {bkhmd} then u would have to change ur name to one eye Vad
[12:15] {Threei} 2012, bk
[12:16] {fernp} i've eschewed the shoe is that correct? :-)
[12:17] {Threei} yes :)
[12:17] {Threei} now embrace the movie
[12:17] {strider} my dog eshewed my shoe once. Gave him hell for it.
[12:17] {fernp} lol
[12:18] {larisa} if market does not close under -200+, lets make vad wear stilettos all weekend :)
[12:18] {Threei} oh good, no tutu then
[12:19] {larisa} but it will, do not worry vad :)
[12:19] {Threei} well, but if it doesn't, cocnut bra for you?
[12:20] {larisa} no, too cold here
[12:20] {magoo} any read APWR vad?
[12:20] {Threei} down feels more probable mags but no setup that I see
[12:21] {magoo} wow..i thought up
[12:21] {Threei} ideally, I'd love it to come down to .50, consolidate a bit, then break it down
[12:21] {Threei} that would be the one I'd take
[12:22] {Les} today was informative. more time studying your setups vad in future, less thinking about money. Friends are around and the bottle open. have a good weekend.
[12:23] {Threei} larisa, what kind of excuse is that... can use fur lining
[12:23] {Threei} you too Les, have a good one
[12:23] {larisa} bye les :)
[12:23] {fernp} bye Les
[12:24] {magoo} bye les
[12:24] {Threei} I for one will have no problem wearing those stilettoes inside of fur jackboot
[12:26] {Threei} weather finally settles down here... sun second day in a row
[12:26] {fernp} gotta go. have a nice weekend everybody. See you all on monday
[12:26] {Threei} have fun fern, tell us how you liked the movie
[12:26] {fernp} i'll do
[12:28] {magoo} vad, look AMZN chart here
[12:29] {Threei} yes
[12:29] {bkhmd} later fern good weekend
[12:29] {Threei} held under .50, dropped
[12:39] {strider} thanks guys. I'm gonna take my 20 cents and go home........
[12:39] {strider} wait, I am home.
[12:42] {Threei} QLTI UPDATE: RBC Raised QLTI to Outperform from Sector Perform, price target: $6
[12:42] {Threei} I knew there was the reason we played QLTI
[12:42] {Threei} it's just the the reasin came after we profited from it
[12:42] {strider} No...I think your playing it resulted in the upgrade.
[12:42] {Threei} oh
[12:43] {strider} news travels fast.
[12:43] {Threei} so, all this hoopla turns out the storm in a teacup
[12:43] {Threei} at least for now
[12:43] {Threei} Dow -125
[12:43] {Threei} big deal
[12:44] {Threei} Monday will be more interesting
[12:44] {strider} yeah
[12:44] {strider} When the male hysterics get back to work.
[12:44] {Threei} lol
[12:44] {Threei} but again... 3 winning plays made the day worth coming in
[12:45] {strider} It did....even if I only got two of them.
[12:45] {strider} See y'all Monday......So long from appalachia.
[12:46] {Threei} have a good weekend
[12:46] {bkhmd} later Stride
[12:47] {magoo} we'll be out hunting next week vad so u know
[12:47] {Threei} have fun
[12:47] {Threei} bear?
[12:47] {Threei} deer?
[12:47] {magoo} deer now
[12:47] {Threei} cool
[12:48] {magoo} coolio lol
[12:48] {Threei} okay guys, let's have a nice relaxing weekend
[12:48] {magoo} ty
[12:48] {Threei} see you all on Monday
[12:48] {larisa} bye :)
[12:48] {bkhmd} thanks VAD
[12:48] {bkhmd} take care
[12:59] {larisa} 2 min to lose 50 points. go DOW :)
[12:59] {bkhmd} wow
[13:00] {larisa} lazy market! bye all! :)