Friday, November 6, 2009

Nov 06 2009

Very narrow and extremely boring day with nothing happening and nothing to report. Most of trades we tried to find didn't even trigger.

Session Time: Fri Nov 06 00:00:00 2009

[08:07] {Les} gm. AIG post Q profit blah blah blah. fun and game today with AIG...
[08:08] {magoo} morning
[08:08] {magoo} any news AIG?
[08:09] {Threei} well, it's fun and games until someone loses an (insert whatever)
[08:09] {Les} wow AIG in the red
[08:09] {magoo} but news?
[08:09] {magoo} hi vad btw'
[08:09] {Threei} hey
[08:09] {Threei} American International Group, Inc Reports Q3 $0.68 v $1.98e (unclear if comp), R $26B v $23Be; To take $5.6B Q4 charge
[08:09] {Threei} - During the first nine months of 2009 and through October 31, 2009, AIG entered into agreements to sell or completed the sale of operations and assets that are expected to generate a total of approximately $5.6B in net after-tax proceeds that will be available to repay outstanding borrowings and reduce the amount of the FRBNY Facility upon closing.
[08:09] {Threei} - AIG continues to engage in productive discussions with potential buyers for a number of its other businesses.
[08:09] {Threei} - Loss to be incurred Q4 (equates to around $7/ share)
[08:10] {Threei} - CEO: Our results reflect continued stabilization in performance and market trends. AIG employees are working to preserve the strength of our insurance businesses in a challenging market by working closely with our distribution partners, with third quarter 2009 showing signs of stabilization. Pricing in our commercial property casualty business has been stable. Management continues to monitor rates closely and maintain underwriting discipline, turning away some renewal business due to aggressive pricing by existing and new competitors.
[08:11] {Les} nice speech by the CEO
[08:11] {Les} sounds like Washington talk.
[08:11] {Threei} there are plenty of other numbers that don't tell me anything
[08:12] {Threei} but if you are numbers afficcionado I can post them
[08:12] {magoo} nah
[08:12] {magoo} how u interpret that garbage?
[08:12] {Threei} you said it
[08:12] {Threei} as garbage
[08:13] {magoo} i do have a way w/words
[08:13] {Threei} that's why I borrow from you
[08:13] {Threei} I don't know many of those
[08:14] {Threei} so I need to asource to borrow from
[08:14] {magoo} i wonder how i managed to trade for so long with few issues on such blazing speed, stuck quotes are only recent issue
[08:15] {Threei} truly miracle
[08:15] {magoo} news AMZN?
[08:15] {Threei} here is my assumption:
[08:16] {Threei} upgrade with 160 target
[08:16] {Threei} last couple weeks stuck quotes triggering necessity to switch servers occur more often,
[08:17] {Threei} so I suppose laser server farm experiences somewhat more diffculties, or internet weather is a bit worse,
[08:17] {Threei} and with your low speed connection you were borderline
[08:18] {Threei} This recent worsening affected those with good connection within bearable limits, nothing groundshaking
[08:18] {magoo} makes sence
[08:18] {Threei} or nothing that simple switch of servers wouldn't fix
[08:18] {Threei} but for slow connection became a real issue... no buffer
[08:20] {Les} trading has proven to be eye opener in technology and communications speeds required
[08:20] {Threei} not unlike downloading porn I suppose
[08:20] {Les} wouldn't know about that
[08:20] {Threei} neither would I
[08:21] {Threei} but I hear things
[08:21] {magoo} me neither
[08:21] {Threei} but I know what you mean Les
[08:21] {Threei} funny episode once
[08:21] {magoo} ya, good things, er um...discraceful things i mean
[08:21] {Les} dual core was top notch two years ago. Now with multiple windows open the PC slows down
[08:21] {Threei} lol
[08:21] {Threei} at some party,
[08:22] {Threei} casual conversation leads to one guy's piqued interest
[08:22] {Threei} he says he has very fast order execution system
06[08:22] * nemo slaps Threei around a bit with a large Good Morning!
[08:23] {Les} quiet nemo, vads telling a joke
[08:23] {magoo} capn:)
06[08:23] * Threei slaps nemo around a bit with a large reciprocation
[08:23] {KSystems} morning Mr Vad
[08:23] {Threei} he is very with that,
[08:23] {KSystems} sir
[08:23] {nemo} mornin' Mags K Les
[08:23] {Threei} KS :)
[08:23] {Les} :) Nemo, K
06[08:23] * KSystems slaps Threei around a bit with a large payroll
[08:23] {Threei} he invites me fordemoinstration
[08:24] {Threei} shows me some crappy online broker page,
[08:24] {Threei} I ask to see the order going through
[08:24] {Threei} so he sends some under the market bid
[08:24] {Threei} page refreshes in a dew seconds,
[08:24] {Threei} to show something like:
[08:25] {Threei} Order Status: Pending
[08:25] {Threei} next refresh,
[08:25] {Threei} he looks at me with this victorious expression
[08:25] {Threei} and says: look what happens now
[08:26] {Threei} page refreshes in a few seconds to say that his order is in
[08:26] {magoo} dammit..was thuinking aig short 36.80
[08:26] {Threei} I honestly didn't know what to say, he was so proud of his blazzing speed system
[08:26] {Les} he was daytrading with that?
[08:26] {Threei} so I nod politely and try to switch conversation
[08:27] {Threei} he was mixing day trading with swingtrading, and was fairly new at "day" part
[08:27] {magoo} K :)
[08:27] {Les} did you enlighten him?
[08:27] {Threei} he was quite insisten in seeing what I have in that regard
[08:28] {Threei} and I could avoid showing it without looking strangely coy just for so long
[08:28] {Threei} long story short...
[08:29] {Threei} when I clicked Buy to show him order going through, and it was actual entry
[08:29] {Threei} he didn't realize what happend
[08:29] {Threei} I completed a trade on something fast befofe he understood that I was in
[08:30] {Threei} *(US) OCT UNEMPLOYMENT RATE: 10.2% V 9.9%E
[08:30] {Threei} - No revisions (related SPY SHY GLD USO EUR/USD USD/JPY IYM )
[08:30] {Les} aig seems to be dropping on this news
[08:30] {magoo} u promised to keep this experience we had when we first met to just u and me vad
[08:30] {nemo} earnings les
[08:30] {Threei} lol
[08:31] {Les} market dropping too
[08:31] {nemo} I thought it reeked of Mags
[08:31] {Threei} so yeah, for some this speed is a surprize
[08:31] {Les} what year we talking about Vad?
[08:31] {Threei} last year
[08:32] {Les} booked to see Vadim Repin next week. Who knew Russians did more than drink Vodka and crash forklifts?:P
[08:33] {magoo} wanna laugh, yesterday when i was searching through files to try and up our dsl speed, i saw where in 2000 the original dsl speed we were using to trade was 128k
[08:33] {Les} hmmm huge paradigm shift in speeds since I arrived in Switzerland beginning 2000
[08:33] {Les} cracking open telco monopoly helped alot
[08:34] {magoo} back then trading through schwab, then datek, then ameritrade
[08:34] {magoo} scottrade
[08:34] {magoo} mu evolution..the met vad and went MB
[08:34] {magoo} then GEnesis
[08:34] {magoo} now BEAR
[08:34] {magoo} mu=my
[08:35] {Threei} you were afer Castle times then
[08:35] {Threei} before MB there was Castle
[08:36] {Threei} fringe broker with amazing (at thew time) technology
[08:36] {Threei} boy... larisa remembers what fun it was
[08:36] {Threei} they gave us weapon light years ahead of everyone else
[08:37] {Threei} NITE guaranteed execution
[08:37] {Threei} that was licence to print money
[08:37] {Threei} lasted for about 9-10 months
[08:38] {Threei} then NITE pulled it, said we were robbing them blind
[08:38] {Threei} of course their initial idea was to rob us blind,
[08:38] {magoo} vad..heck of pullbk here
[08:38] {Threei} they just underestimated us
[08:38] {magoo} any bouncers?
[08:38] {nemo} on aig mags?
[08:38] {Threei} it's not pullback
[08:38] {Threei} it's downtrend
[08:38] {magoo} dunno
[08:39] {nemo} rimm coughin' up furball too
[08:39] {magoo} aapl..amzn
[08:39] {magoo} gs
[08:39] {nemo} yeah appl amzn
[08:39] {magoo} aapl was .90 area
[08:39] {Les} NITE introduced new technology to rob traders? Wierd.
[08:40] {Threei} that was quite a story, with a lot of twists and turns
[08:40] {Threei} gotta write it up for blog maybe some day
[08:47] {magoo} read AAPL boss
[08:49] {Threei} none
[08:50] {Les} short video with outlook for RIMM: 40-45$
[08:50] {Les} showed me how pivot points interact with tops to give downside targets. never saw that before
[08:56] {Les} .
[08:56] {cosmo} good point
[09:01] {strider} morning everyone.
[09:01] {Threei} strider :)
[09:02] {strider} :)
[09:03] {Threei} larisa :)
[09:04] {larisa} gm :)
[09:04] {Threei} (pre-emptive greeting)
[09:04] {strider} AMZN upgrade
[09:06] {Threei} wh planned on buying Taurus, you may have to wait:
[09:06] {Threei} F Idles Chicago Taurus plant for a week due to parts shortage caused by supplier strike in India
[09:08] {Les} globalisation's a bitch
[09:08] {ese} good back in victoria
[09:08] {nemo} dude!
[09:09] {ese} due
[09:09] {ese} dude3
[09:09] {Threei} ese :)
[09:09] {ese} ahhhhhh
[09:09] {ese} dude!!!
[09:09] {magoo} DUDE!
[09:09] {ese} MAGS
[09:09] {ese} vad
[09:09] {Threei} ese, saw last photos of fall colors in Beacon Hill park?
[09:10] {lasertrev} morning all
[09:10] {Threei} trev :)
[09:10] {ese} sold my 1/2 position in ctsh....yesterday let it ride for 2 days
[09:10] {Les} gm trev, ese, larisa, strider.
[09:11] {ese} les
[09:11] {strider} Les, ese
[09:11] {ese} ST
[09:11] {lasertrev} les
[09:11] {strider} group hug
[09:11] {fernp} Good morning everybody
[09:11] {lasertrev} gm fern
[09:12] {magoo} trev:)
[09:12] {Threei} fern :)
[09:12] {ese} out ctsh 42.83 +1.53.....i think you have something there vad
[09:13] {ese} although i'm sure you don't hold 1/2 positions more than a day
[09:14] {Threei} why, in according market and with compelling reason, sometimes I do
[09:15] {ese} ahhhhhh
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:15] {ese} dino
[09:15] {dptl} morning all
[09:16] {Threei} dp :)
[09:16] {ese} ddddddddpppppppp!
[09:18] {dptl} :)
[09:19] {dino} wasssssuppppp
[09:20] {dino} the contrarian in me says buy the gap lower. we shall see
[09:20] {ese} lower gaps in general today dino?
[09:20] {Threei} hmmm... my contrarian is in yestge5rday's mood still, he says short everything to high heaven
[09:21] {_vgdanger} morning back for more
[09:21] {Threei} morning vgdanger
[09:21] {ese} vg...welcome
[09:21] {_vgdanger} hig off the open ?
[09:21] {Threei} HIG tends to make rather sharo moves right out of the gate
[09:22] {Threei} sharp
[09:22] {dino} es, 30 minute wait then i'll start
[09:22] {strider} sharo=charo?
[09:22] {_vgdanger} what do u think of this 23.50 area?
[09:22] {Threei} better to wait out first few min and let it settle down
[09:22] {ese} at least that form dino
[09:22] {Threei} I don't really
[09:22] {dino} highest rate since 1983; remember '83 was low
[09:23] {ese} 2 days away....and it's suprising how out of sync you get
[09:23] {ese} for me dino
[09:23] {_vgdanger} sharo out the get?
[09:23] {_vgdanger} gate?
[09:24] {Threei} sharp moves right out of the gate
[09:24] {_vgdanger} i see
[09:24] {Threei} most often those are moves down
[09:25] {Threei} but get caught on a wrong side, you'll get killed
[09:25] {cosmo} NVDA for example ....maybe
[09:25] {_vgdanger} and u try for capit?
[09:25] {Threei} depends
[09:25] {Threei} in uptrend after gap up, yes
[09:25] {Threei} there is no gap up today
[09:26] {bkhmd} gm all
[09:26] {Threei} bkh :)
[09:27] {cosmo} NVDA 13 test
[09:28] {_vgdanger} what else do u look at off open these days?
[09:29] {_vgdanger} aside from rimm and hig?
[09:29] {Threei} AIG
[09:30] {_vgdanger} and no buying new highs for momentum on that
[09:31] {Threei} Long Setup: SBUX .55 break
[09:31] {Threei} if stays above .40
[09:32] {ese} nope
[09:33] {Threei} invalidated
[09:34] {Threei} Short Setup: HIG .60 break if stays under .70
[09:34] {Threei} argh
[09:35] {Threei} let's see if gives us a bounce
[09:35] {Threei} ok... same setup
[09:36] {Threei} no go
[09:36] {bkhmd} yikessssss
[09:37] {_vgdanger} did that trigger?
[09:37] {dino} so how many jobs has obama "saved" now
[09:37] {Threei} friking SBUX decided to go now
[09:37] {fernp} big slippage with HIG here grrrr
[09:38] {dino} this bounce a bit early, not trusting it
[09:38] {Threei} it's a work in progress dino
[09:38] {strider} me too fern
[09:38] {nemo} cvs viagra
[09:41] {Threei} VP Aide: Obama considering various ways to assist job market
[09:41] {Threei} oh good
[09:41] {bkhmd} he didnt consider that b4?
[09:41] {Threei} he has many various ways, he just needs to consider which one to use
[09:41] {nemo} "We're from the government, and we're here to help"
[09:42] {ese} amzn it again
[09:42] {bkhmd} yep
[09:42] {dino} nope thought it was better to just keep extending benefits. just realized that if 10-20 unemployed they cannot pay for his heathcare tax
[09:43] {ese} gap up S&P
[09:43] {ese} bull trap ?
[09:43] {bkhmd} im confused those numbers were bad its friday and the market is not tanking?
[09:44] {dino} imo, other news prior to this has been pretty good
[09:44] {dino} considering....
[09:44] {bkhmd} yes ur right
[09:45] {dino} rst sm l .00
[09:45] {bkhmd} I would have guessed differently
[09:45] {ese} L hans .89
[09:46] {_vgdanger} out dino?
[09:46] {dino} sam nice
[09:47] {dino} no
[09:47] {ese} sm......will be out quick don't like the way it's bouncing around
[09:47] {_vgdanger} i mean whats ur out?
[09:47] {dino} vg no, stop is lod looking for 18.40s
[09:47] {_vgdanger} gotcha
[09:48] {Les} upro
[09:48] {dino} typically sm= 300 to 400 shares; will have a .32-.35 stop, always looking for at least 1:1
[09:48] {Les} sorry
[09:49] {dino} but, i am just a speculator, vad is the expert
[09:49] {Threei} RIMM pullback
[09:49] {dino} i play some wierd moves
[09:49] {_vgdanger} any special scanner settings for the stocks?
[09:49] {Threei} looking for 57.80 zone
[09:50] {Threei} ENER Hearing Lazard making positive comments; Reiterates Buy rating (timing uncertain) (11.41, -0.04, -0.35%)
[09:50] {dino} .07 multiple moves; 7k ave 5 day vol., top 10 up/downs
[09:50] {_vgdanger} seems like capit/euph plays
[09:50] {dino} bingo
[09:51] {dino} 70k
[09:51] {_vgdanger} .07 multiple moves?
[09:51] {Threei} remember BIOS mention as swing trade candidate a few days ago?
[09:52] {Threei} who considers it, it's triggering
[09:52] {dino} yes, that means its moving fast and big
[09:52] {fernp} symbol?
[09:52] {dino} otherwise its just mo-mo imo
[09:52] {_vgdanger} imo?
[09:52] {Threei} RIMM
[09:52] {dino} in my opinion
[09:52] {Threei} almost ready
[09:53] {dino} rst jumpy lay out
[09:53] {ese} out hans .75 -.14
[09:53] {Threei} .80 long trigger RIMM
[09:53] {Threei} if holding .65
[09:54] {fernp} HIG also pulling back
[09:54] {magoo} in
[09:54] {magoo} 77
[09:55] {nemo} fricking quotes again
[09:55] {dino} magoo too nemo
[09:55] {dawg} bad quotes
[09:55] {nemo} this is really gettin aggravating
[09:55] {Threei} what do you need?
[09:55] {Threei} RIMM .97
[09:56] {nemo} froze up on rimm t&s one thing LII another...didn't get in
[09:56] {Threei} mags, take profit here
[09:56] {nemo} just froze up again
[09:56] {Threei} fine here
[09:56] {dino} wow rail, "no orders received in 3q"
[09:56] {larisa} no problems here
[09:56] {fernp} RIMM was invalidated, no?
[09:56] {larisa} RIMM went to .60 for a sec
[09:57] {bkhmd} i thought so
[09:57] {fernp} .57
[09:57] {Threei} by a few cents... kind of "decide for yourself"
[09:57] {Threei} ENER on the move
[09:57] {bkhmd} i was looking for teh huge vol spike and didnt see it so decided to stay on sidelinie
[09:57] {Threei} Preview: Sept Wholesale Inventories due out at 10amET
[09:57] {Threei} **consensus expectation: -1.0%e v -1.3% prior (estimates range from -0.4% to -1.5%
[09:57] {_vgdanger} dino mind if i trade with you? try with 100 shares? interested in how you trade
[09:58] {larisa} :)
06[09:58] * nemo slaps strider around a bit with a large trout
[09:58] {magoo} AMZN
[09:59] {Threei} you got out of RIMM OK mags?
[09:59] {Threei} went over 58 for exit
[09:59] {magoo} nope
[09:59] {magoo} quotes froze
[09:59] {magoo} reestablish and out of $$
[09:59] {magoo} was waiting .121
[10:00] {magoo} killing me
[10:00] {Threei} how about leaving these fast monsters alone until you fix the connection?
[10:00] {Threei} SEPT WHOLESALE INVENTORIES: -0.9% V -1.0%E
[10:00] {dino} at your own risk, afain, i am not a pro, i make lots of mistakes. i feel vad would be better for you
[10:00] {magoo} aapl too...saw .18 but my system froze..reestablishes and im out .60
[10:01] {dino} cstr
[10:01] {magoo} untradeable situation
[10:01] {Threei} [10:00] {Threei} how about leaving these fast monsters alone until you fix the connection?
[10:02] {nemo} mine started fritzing last thursday, and I haven't done anything
[10:02] {strider} I got pretty much the same thing down here.......can't see how it's at my end since for the first month with Laser I had no problems.
[10:02] {magoo} im froze here,,,u?
[10:02] {dino} rst on your own
[10:02] {_vgdanger} ive read the tryng to be a sponge...learn from everyone
[10:02] {strider} I think it'ss routing issues.
[10:02] {dino} out .42, +.42
[10:02] {nemo} rimm looking like short
[10:02] {Threei} not necessary your end
[10:02] {fernp} fine here, mags
[10:02] {magoo} never unsticks in my favorc
[10:03] {dino} keep it on screen, may hit it again
[10:03] {Threei} but if some are fine and some experience problems, it's most likely an internet weather in your direction
[10:03] {_vgdanger} rst?
[10:03] {dino} cstr looks like gap filled from julyish, have to start laying out for them
[10:03] {strider} internet weather?
[10:03] {dino} yes vg rst out .42, keep watching it, if pulls back may try again
[10:03] {Threei} some routes experience slowdown... could be a coastwide, could be certain state
[10:04] {_vgdanger} cool
[10:04] {strider} yes. But there's nothing we can do about that...other than move.
[10:04] {Threei}
[10:04] {_vgdanger} you looking for big volume spike on minute as well correct?
[10:04] {nemo} look at wege on rimm
[10:04] {Threei} moving is not an answer
[10:05] {Threei} you don't move when rain starts, right?
[10:05] {bkhmd} Nemo what is good entry?
[10:05] {strider} I just meant that i have no control over it
[10:05] {bkhmd} break .67?
[10:05] {Threei} I know... just didn't want you to start packing just yet :)
[10:05] {nemo} that was the question now moving too fast to .60, consolidation and short break of .60
[10:06] {nemo} no consoliation
[10:06] {nemo} thosy symmetrical wedges are a crapshoot, but usually in the direction of the previous trend.
[10:06] {_vgdanger} dino u have collabration setting for ur scanner on these plays?
[10:07] {ese} l trow .23
[10:07] {ese} sm
[10:08] {dino} pretty basic .07 filter52 wk hi/lo
[10:08] {dino} then top 10 movers by %
[10:09] {dino} i want to see a stock scan with multiple hits on the .07; say 10 times fast, somethings up
[10:10] {Les} RIMM good for an intraday short Vad? thinking if it fails to push thru 57.75 area
[10:10] {dino} but i caution you, it is a very strange way that i trade, so i've been told by many
[10:10] {nemo} incredibly odd
[10:10] {ese} hmmmm breakout no worky on trow.....not stopped yet but close........
[10:10] {Les} RIMM looks downhill from here
[10:10] {Threei} wow
[10:10] {Threei} AIG
[10:10] {nemo} cvs nice range
[10:10] {_vgdanger} thats fine....
[10:11] {Threei} what just happened
[10:11] {Threei} uh oh
[10:11] {Threei} (RU) Russian Duma has reportedly passed new beer tax in first of 3 readings
[10:11] {Threei} - Bill to raise excise tax by 50% in 2010-2012 period
[10:11] {nemo} mass suicides coming
[10:12] {Threei} President Obama to speak at 11:30amET on unemployment data
[10:12] {dino} move to vodka
[10:12] {nemo} like that isn't next
[10:12] {Threei} bathtub kind
[10:12] {Threei} who cares
[10:12] {nemo} aig momo
[10:12] {Threei} I don't see any news on AIG
[10:12] {nemo} made money yseterday
[10:13] {_vgdanger} earnings
[10:13] {nemo} oohh...threeeish
[10:13] {Threei} earning were long ago
[10:13] {Threei} it spiked like crazy just now
[10:13] {Threei} so I am loomking for fresh news
[10:13] {nemo} it's aig
[10:13] {nemo} remember yesterday
[10:13] {Threei} well, it's was a bit too sharp even for AIG
[10:13] {nemo} Tuesday
[10:14] {dino} good point nemo
[10:14] {Threei} RIMM looks like a short to me again but no clear entry
[10:15] {ese} stopped trow .03 -.20
[10:16] {ese} done with breakouts for today thats for sure
[10:16] {dino} mkt dropping
[10:16] {Les} want to take a little bite out of stocks while you are looking for setup. But paper trading with IB software not fast filler, not ideal
[10:16] {Les} don't know if it's because its paper trade.
[10:17] {Threei} ok, this is new for me
[10:17] {Threei} if even paper trade is slow, what to expect from real one, lol
[10:17] {Les} :D
[10:18] {Les} yeh curious how software works
[10:18] {fernp} AIG pulling back
[10:19] {larisa} .15 support for RIMM, looking if can bounce
[10:20] {larisa} potential not much, around .40
[10:25] {dino} rail gap filled
[10:25] {ese} dino had a look at cstr by chance
[10:26] {Les} short rimm .25
[10:26] {ese} thinkin long sm at .50
[10:27] {dino} yes es watching it wanted 26.80 but missed
[10:27] {dino} watching rst, cstr, gok, rail, hans
[10:28] {dino} may stillo get cstr
[10:28] {dino} also watching ddm, dxd
[10:28] {patience} out rest of hgu +.82, still holding goldcorp and barrick
[10:28] {ese} was watching hans as well......couple of small gambles in hans and trow haven't worked out
[10:28] {dino} run dmc market
[10:29] {dino} "it's tricky" showing my age
[10:29] {ese} lol.....yup
[10:29] {ese} reasonable Q's with hans and cstr too.....nothing that warrants the hit there taking
[10:31] {dino} coming into lod
[10:31] {Les} covered RIMM @ 57
[10:32] {ese} l cstr .55
[10:32] {Threei} nice
[10:32] {dino} gj
[10:33] {ese} out cstr 1/2
[10:34] {ese} .70 +.15
[10:34] {fernp} gj
[10:35] {Threei} (US) House Majority Leader Hoyer (D): Near the required votes (218) to pass health care legislation (related IYH PPH BBH )
[10:35] {ese} out full cstr .80
[10:35] {Threei} looking at RIMM daily, I see little to prevent it from dropping to 55
[10:36] {ese} +.25 remaing 1/2 1k each
[10:36] {_vgdanger} vad.....the hig earlier was that just a short into a bounce?
[10:36] {dino} gok lod
[10:36] {Threei} yes
[10:37] {dino} hans too
[10:37] {dino} gj es
[10:37] {ese} tks
[10:38] {ese} capitulation bar on hans
[10:38] {ese} there it goes.....too late
[10:39] {dino} missed
[10:39] {ese} rats missed it
[10:39] {dino} wanted 32.50s
[10:39] {strider} wht period chart you looking at dino?
[10:39] {fernp} HIG setting for a short if loses lod, Vad?
[10:39] {dino} gok sm l .
[10:39] {Threei} .40...
[10:39] {dino} .80
[10:39] {Threei} well
[10:40] {Threei} pretty much, but I am not sure it's the best way to enter
[10:40] {dino} stop .49
[10:40] {Threei} shakeouts are abundant
[10:40] {fernp} thanks, i'll follow your instructions :-)
[10:41] {_vgdanger} dino stop not lod but always about 30c for room?
[10:41] {dino} on sm yes
[10:41] {_vgdanger} gotcha
[10:41] {dino} stopped
[10:42] {ese} would agree with that today vad
[10:44] {Les} descending triangle in HIG, ready to drop?
[10:45] {Threei} if market helps
[10:45] {ese} market about be all red now!
[10:45] {Les} spy
[10:45] {Threei} fern... two way on HIG
[10:45] {fernp} tell me
[10:45] {nemo} metro
[10:45] {Threei} one is try and short it here with stop above .60
[10:45] {Threei} a lot of uncertainty, tighter sto[
[10:46] {Threei} another is to wait for .40
[10:46] {Threei} a bit better chance but if shakes out, your stop is much wider
[10:46] {dino} can't believe hans holds that .00
[10:46] {Threei} and if it goes above .60 here, it all becomes a moot point
[10:47] {Threei} there you go
[10:47] {fernp} incredible
[10:47] {Threei} this is the kind of random moves that I usually have hard time finding plays in
[10:48] {fernp} shakeouts continuously. I understand you
[10:50] {dino} gok whoosh
[10:52] {larisa} why is it random ? HIG tested morning support at .40 levels and trying to bounce with market strength. you do not see structure here, like db or something? Am I seeing things :)
[10:53] {nemo} dino sees dead people
[10:53] {dino} unfortunately
[10:53] {Threei} here is what prevents me from seeing it this way
[10:54] {ese} l fitb .09
[10:54] {dino} hans sm l .10
[10:54] {Threei} market barely bounced off support, remaining in the range of consolidation
[10:54] {Threei} HIG however went above the upper limit of consolidation range
[10:54] {Threei} normally, it would be a sign of it being stronger than market,
[10:55] {Threei} but that's not the case either
[10:55] {ese} technically these mid west bank stocks looking good
[10:55] {Threei} as market is considerably farther from its lows whikle HIG was almost testing it
[10:55] {ese} hans ...fitb....fmer etc etc
[10:55] {Threei} so it just doesn't fall together
[10:56] {_vgdanger} double bottom dino?
[10:56] {Threei} and prevents me from constructing a play
[10:56] {dino} rst held well
[10:56] {bkhmd} From the bounce at 10:30 price continued up while vol cslopes down?
[10:56] {Les} small ascending wedge in SPY?
[10:56] {dino} rst?
[10:56] {_vgdanger} hans
[10:56] {_vgdanger} aggressive
[10:57] {larisa} take 10 people, they will offer 10 different trades on same stock :)
[10:57] {dino} oh, i like it holds well
[10:57] {ese} that kills avg price about penny pinching
[10:57] {dino} well larisa you know what they say about chairs
[10:58] {nemo} acd ese
[10:58] {ese} whats that nemo?
[10:59] {nemo} forgot actually...that syndrome where you're incredibly fastidious
[11:00] {dino} gok hmmm
[11:00] {ese} ya but........whats that...... incredibly fastidious
[11:01] {nemo} euphemism for anal retentive
[11:01] {ese} rotfl..........ya.......yup thats me
[11:02] {ese} haven't gone to the bathroom in 2 days.......
[11:02] {nemo} oooh...more info than i needed
[11:02] {dino} yuk
[11:02] {larisa} lol
[11:02] {ese} being on the road with a band does that to ya
[11:02] {dino} gok sm l .98
[11:03] {Les} haha not quite the anal retentive that Freud was refering to
[11:03] {dino} roflol
[11:03] {Les} l spxu .76
[11:03] {dino} perhaps i should have changed the word chair to toilet for es
[11:04] {nemo} bidet maybe
[11:04] {nemo} poor Raven
[11:05] {nemo} aig consolidating
[11:05] {ese} L sm as well gok .9899
[11:05] {dino} hans nice
[11:05] {dino} stop to .50
[11:06] {ese} told my wife that one day.....she had nice hans
[11:06] {dino} screw it out .60, +.50
[11:06] {ese} now thats nice.......
[11:06] {ese} well done dino
[11:06] {strider} ese, your stop on FITB?
[11:06] {nemo} ese...time to change your meds
[11:07] {dino} ty
[11:07] {larisa} ese, my friend is incredibly honest too.. but he is cocaine addict. be careful what you are saying :)
[11:07] {ese} am i not here agian?
[11:07] {ese} again
[11:07] {nemo} it takes a strong man to take it
[11:08] {ese} ST....don't have physical one
[11:08] {strider} thx
[11:08] {ese} but 9 would be about it
[11:08] {strider} yeah
[11:08] {Les} out spxu +.01 see inverted roof pattern. not sure what it would do so sold
[11:08] {dino} oh man, hans. when i don't take them, i lose a profit, when i take profit, they run like hell
[11:09] {larisa} nice reversal
[11:09] {ese} gok....thinner than seaweed sushi wrap dino....
[11:09] {bkhmd} lol
[11:10] {Les} .1, not .01. too greedy to take the .9 on offer
[11:10] {dino} starting to smell like it to
[11:10] {ese} yup
[11:11] {dino} rail held .00 well
[11:11] {ese} you in
[11:12] {dino} no will wait for .00 area
[11:12] {dino} pullback coming mkt imo
[11:13] {dino} gok stopped
[11:13] {dino} done w/it
[11:13] {ese} another capit bar in gok....see if that helps
[11:14] {dino} off my screen, fool me twice thing
[11:14] {nemo} big drop in oil
[11:14] {dino} here comes rail
[11:20] {dino} rail sm l .01
[11:22] {dino} rrgb
[11:24] {ese} man this stock......your right dino....stop ....gok."ing" on me ....sheesh get on up there
[11:24] {ese} ahhh there we go....making a move back
[11:26] {strider} ese, you need to buy a few more k shares, to give it a boost
[11:26] {dino} lol
[11:27] {larisa} ese can afford to buy all public float on it :)
[11:28] {Threei} lol
[11:28] {dino} cmi sm l .00
[11:31] {strider} the dino index is bouncing
[11:31] {Threei} the unemployment situation is going to start improving within minutes'
06[11:31] * larisa slaps Threei around a bit with a large trout
[11:32] {nemo} so where do we end up today boys and girls?
[11:32] {Threei} SBUX irritates me
[11:32] {larisa} I want -200 :)
[11:32] {nemo} what you want is irrelevant
[11:32] {ese} i can't afford it but someo others on this board probably can
[11:32] {bkhmd} -78
[11:33] {Threei} we don't always get what we want... I wanted that trout pan-fried and on the plate for instance
[11:33] {Threei} and look in what form I got it
[11:33] {nemo} splattered shashimi
[11:33] {strider} comes with instructions, though
[11:33] {dino} just be glad you got it
[11:34] {Threei} I am... shower is in order though
[11:34] {bkhmd} if my -78 call is correct does that earn me the right to slap people with smelly fish? lol
[11:34] {nemo} no you smell better that way
[11:34] {Threei} no bkh - you have that right as it is
[11:35] {Threei} BLTXX has posted 7th straight gain, yet DRYS looks miserable
[11:36] {Threei} OPTT Gets A$66.5M grant from Australian govt for 19MW wave power project off the coast of Victoria, Australia
[11:36] {Threei} interesting little stock this OPTT
[11:37] {bkhmd} i revise my close call to 9889 on the dow
[11:37] {Threei} Ocean Power Technologies Inc
[11:37] {dino} i'm going with 10098
[11:38] {bkhmd} oops i left out a 0
[11:38] {Les} good stuff. Australia's gotta get off its coal addiction
[11:39] {dino} "saved or created over 1 million jobs" cracks me up, i guess he's an oracle
[11:39] {Threei} wow, that was short speech
[11:39] {dino} never mentions that under his term job losses are in millions
[11:39] {Threei} limelight is not as pleasant today or what
[11:40] {nemo} yeah, but you can't blame that on him
[11:40] {_vgdanger} dino what kind of set up is the cmi?
[11:40] {Threei} actually, however it pains me to say so, you can't
[11:41] {Threei} you can blame him with promising impossible though
[11:41] {nemo} what politician doesn't
[11:41] {dino} got whacked a few days ago, been moving up since. i follow the whack a moles for few days
[11:41] {_vgdanger} whats ur trigger on these?
[11:41] {Threei} here is huge difference nemo:
[11:42] {Threei} one thing is to promise something in order to get elected,
[11:42] {dino} 99 wks of unemployment now, longest since early 70s. he is buying votes, if you elect me you will never have to work while i'm here
[11:43] {Threei} and completely another is to push through immense spending program crippling economy for decades looking forward, in order to fulfill impossible promisde
[11:43] {dino} instead he should be creating invcentives for business to hire
[11:43] {Les} can't blame him Vad. This is new situation for modern politics
[11:43] {dino} handouts are not the answer
[11:43] {Threei} can't?
[11:43] {nemo}'s doing exactly according to his political philosophy...I don't want to call him communist, but he's as left as any European government
[11:43] {Threei} sorry, I cerftainly can and must
[11:43] {dino} look at the ghettos, generation after generation
[11:44] {Threei} these policies will cost dearly
[11:44] {Threei} ask me how I know
[11:44] {Threei} I once fled the country collapsed after attempots to ake such poicies work
[11:44] {dino} same w/ section 8 housing, generation after generation
[11:44] {bkhmd} ok how do you know Vad
[11:44] {bkhmd} tell us
[11:44] {bkhmd} lol
[11:44] {Les} people don't change overnight. Economics have shown us the futility, but the inability, for modern thinkers to change readily
[11:44] {strider} inverted h&s FITB
[11:44] {Les} now its the West's turn to fail Vad
[11:45] {nemo} Plu cest change, plu cest le meme chose
[11:45] {Threei} sure - if it chooses to do so
[11:45] {dino} europe falls first
[11:45] {Les} do you think it has choice?
[11:45] {Threei} yes
[11:45] {Threei} get back to what worked
[11:45] {Threei} real capitalism, not this pink and blue bs
[11:46] {dino} agree
[11:46] {dino} need a reagan revolution
[11:46] {Les} i'm sure they'd go back if they weren't locked up in important interests pockets
[11:46] {larisa} back to 60s you mean?
[11:46] {Threei} put emophasis of personal responsibility and empowerment with as little goverment intrusion as possible
[11:46] {dino} 80's larisa
[11:46] {Threei} and stop trying to solve problems of ones at the expense of others
[11:47] {nemo} never happen...they want bigger government, so nobody will be held responsible
[11:47] {Les} ok, so take ability to create money from private interests. No more Fed
[11:47] {Threei} Problem with socialism is that sooner or later you run out of other people's monet - M. Tatcher
[11:47] {Les} Money=corruption
[11:47] {dino} reading atlas shrugged right now is uncany
[11:47] {nemo} yeah, but then they just start printing it
[11:47] {Threei} OK, whatever
[11:47] {Threei} OPTT momo
[11:48] {nemo} hah, no quotes
[11:48] {Threei} spread is disgusting
[11:48] {Les} yep
[11:48] {dino} no news
[11:48] {Threei} I posted earlier dino
[11:48] {dino} opps
[11:49] {Threei} [11:36] {Alert} Threei OPTT Gets A$66.5M grant from Australian govt for 19MW wave power project off the coast of Victoria, Australia
[11:49] {larisa} 19MW is like 2 waves a day :) not much
[11:49] {Threei} lol
[11:50] {Threei} my a$$ is out at .99
[11:50] {Threei} will take out 8 most likely but
[11:51] {Threei} yeah, it did
[11:51] {dino} gj
[11:51] {Threei} and sharp drop now
[11:51] {Threei} sheesh, it does what I type while I type
[11:51] {strider} I want one of those keyboards, vad
[11:52] {Threei} lol
[11:52] {Threei} wow
[11:52] {Threei} is this a third wave, larisa?
[11:52] {larisa} third wave will come at 9 :)
[11:53] {larisa} how can you trade stock like that, unless you are in at the very beginning of the move
[11:53] {Threei} we need some definition for momo setup
[11:54] {Threei} like:
[11:54] {Threei} aim your cursor at market buy button, close your eys, gently push it,
[11:54] {Threei} listen the sound or order getting completyed
[11:54] {nemo} in
[11:54] {Threei} pray for 3 minutes
[11:54] {Threei} open your eyes, do not look at the quotes,
[11:55] {Threei} move cursor to sell market
[11:55] {Threei} push it
[11:55] {Threei} now look at P/L
[11:55] {nemo} out
[11:55] {nemo} flat
[11:55] {Les} what, now?
[11:55] {Les} wow, who just sold?
[11:59] {Les} but nice momo on OPTT. will pay more attention to your press releases Vad.
[12:01] {nemo} upward wedge on fcx
[12:07] {_vgdanger} what would you call sbux set up from earlier? did just look like a short becuase 55 held?
[12:07] {dino} pvtb strong
[12:08] {Threei} ?
[12:08] {Threei} I never called SBUX short
[12:09] {_vgdanger} oops long
[12:09] {Threei} that was open range break
[12:09] {dino} rrgb app lod
[12:09] {_vgdanger} gotcha
[12:13] {ese} out fitb .14 +.05
[12:13] {ese} 18k of the little you know whats
[12:14] {Threei} hmmm
[12:14] {Threei} buggers??
[12:14] {dino} cmi to .39
[12:14] {ese} ahhhhhhh ya ya.......thats it ya ya
[12:15] {ese} out gok also .09 +.09......take my 90 buck and be done with it
[12:15] {dino} nice es
[12:16] {ese} tks.....that one was a pain in the you know what
[12:16] {dino} understood
[12:16] {Threei} been a while since we had boring Fridays
[12:16] {Threei} it's rather summer phenomenon
[12:17] {dino} data issues
[12:17] {dino} out cmi +.38
[12:19] {dino} i fear that if cable doesn't solve this problem, i'll have to sell the building and move
[12:19] {Threei} that's rather radical
[12:20] {dino} :)
[12:20] {ese} have to bid you all farewell for the weekend....catch ya monday
[12:20] {Threei} I would simply made over-easy eggs and throw them at magoo
[12:21] {dino} cya es
[12:21] {Threei} take care ese
[12:21] {ese} cya dino vad
[12:21] {fernp} bye ese
[12:21] {fernp} HIG hod
[12:22] {Threei} last time around Dow topped around 10100?
[12:22] {Threei} don't remember exact number
[12:23] {dino} 10119 , 10/20?
[12:23] {Threei} ty
[12:27] {dino} aug 9630-9131; sept 9917-9250; oct 10119-9481; roughly 600 pts each
[12:27] {fernp} out HIG +.14
[12:27] {dino} gj
[12:27] {Threei} wtg
[12:27] {fernp} small lot
[12:28] {Threei} small wtg
[12:28] {fernp} :-)
[12:29] {Threei} AIG
[12:29] {Threei} tries for momo again
[12:31] {dino} rrgb sm l break of .50
[12:31] {Threei} no matter how much I try to observe AIG to get down the pattern of its explosive transformation s to a momo mover, just can't pinpoint it dow
[12:32] {Threei} waves come out of nowhere, and there is no chart formation that would be more or less uniform to their start
[12:33] {Threei} sometimes it's pullback, sometimes it's break, sometimes its a quiet consolidation near the low of tghe range
[12:33] {Threei} and there is no clean connection to the market overall
[12:35] {Threei} look at OPTT
[12:35] {dino} wow
[12:35] {Threei} thing jkjust won't quit
[12:36] {nemo} look at wfmi
[12:44] {_vgdanger} vad...yesterday u mentioned criteria for a pullback into u look for fats pullbacks into support for most strong stocks for a bounce or was it just for momo aig?
[12:45] {_vgdanger} fast^
[12:45] {Threei} no, it's general pricniple
[12:45] {strider} STEC at lod
[12:46] {magoo} .
[12:46] {magoo} in anything
[12:46] {fernp} nothing
[12:46] {_vgdanger} k thanks...guess i associate low vloume pullback with slow tape
[12:47] {Threei} it's two very different animals
[12:47] {Threei} fast vertical drop into support is a play for bounce
[12:47] {Threei} low volume shallow pullback is an uptrend continuation pattern
[12:48] {Threei} and can be used either as a supporting idea for reading the breakout
[12:48] {Threei} or for aggressive entry
[12:48] {_vgdanger} ahhh....i the tape would slow in the cae of continuation pattern correct?
[12:48] {_vgdanger} generall speaking
[12:48] {Threei} yes
[12:50] {strider} RIMM short?
[12:51] {magoo} loss of .00 was
[12:51] {dino} rail stopped
[12:51] {larisa} or bounce into 58.16 pivot on downtrend :)
[12:52] {nemo} or, break of the triangle
[12:52] {larisa} lol
[12:52] {nemo} face it...i'm right...gag
[12:53] {larisa} I never look for triangles.. I like squares :)
[12:53] {nemo} don't stick your chin out like that
[12:53] {strider} Vad, you're in luck
[12:53] {magoo} really
[12:59] {strider} Laser: if you have to outstanding orders on two diff. L2s, can you cancel one without cancelling the other?
[13:00] {strider} two outstanding orders
[13:00] {Threei} on the same stock?
[13:00] {Threei} or differnet?
[13:00] {strider} no, diff. stocks.
[13:00] {Threei} just click Cancel on the level 2 of a stock you want
[13:01] {Threei} it will cancel that one only
[13:01] {Threei} alterrnatively, use blotter,
[13:01] {Threei} tab Pending
[13:01] {strider} button says cancel cancels everything outstanding.
[13:01] {Threei} doubleclick on order will cancel it
[13:01] {strider} ok. great.
[13:01] {strider} ths
[13:01] {strider} thx
[13:01] {Threei} there a button Cancel
[13:01] {Threei} not Cancel all
[13:01] {strider} on blotter?
[13:02] {Threei} no
[13:02] {Threei} on lvel 2
[13:02] {strider} mine says cancel all
[13:02] {fernp} there is a "Pending orders blotter". right click on pending order -} cancel
[13:03] {strider} right c lick on pending order, and click cancel on blotter or on L2?
[13:03] {Threei} blotter
[13:03] {strider} gotcha. thx
[13:03] {Threei} gosh, where do you get those buttons :)
[13:03] {fernp} View -} Pending order
[13:03] {Threei} I can't even find Cancel All
[13:04] {strider} both of my L2 mouse styles say cancel all. And they do. Must be another setup option somewhere.
[13:05] {fernp} if you press cancel button on level2, all your orders will be cancel
[13:05] {strider} yes
[13:06] {lasertrev} or double click the order in pending
[13:06] {strider} that's all that seems to work for me, trev.
[13:07] {strider} Right clicking doesn't do anything except highlight the line.
[13:07] {gnslng} .
[13:08] {_vgdanger} can someone explain the use current shares feature? in the trade tab? no explanation in manual
[13:08] {lasertrev} sorry double left click
[13:08] {strider} yeah...I was correcting fern :)
[13:10] {dino} rst
[13:13] {fernp} no, in "pendir order" blotter (no in "blotter") if you right click on your pending order, you can cancel, modify (raplace) and remove ( the order disappears from blotter bat stays active). I use these on daily basis
[13:14] {strider} rst wicked
[13:15] {Threei} oh, that's whole separate module
[13:15] {Threei} quite convinient
[13:15] {Threei} I don't use it but it's nice
[13:15] {fernp} there is a tab "pending" in blotter but there you don't have these features
[13:15] {Threei} eright
[13:15] {strider} module?
[13:15] {fernp} view -} pending orders easy
[13:17] {strider} thx
[13:17] {Threei} I wonder if OPTT has another rin in it
[13:17] {Threei} tun
[13:17] {Threei} run
[13:17] {Threei} hey, just three attempts
[13:18] {Threei} and I get 3- letter word right
06[13:18] * Threei pictures Raven fainting
[13:20] {_vgdanger} use current shares feature...any takers? lol
[13:21] {dino} cmishaw l .00
[13:21] {dino} shaw i mean
[13:21] {Threei} you ue laser or run demo, vg?
[13:21] {dino} rst l .50
[13:22] {_vgdanger} laser
[13:22] {_vgdanger} in trade tab
[13:22] {Threei} yeah, I see it... can't remember what it does, bewen so long since I set the whole thing up
[13:24] {strider} in RST, 2nd time. .50
[13:25] {_vgdanger} anyone catch cf?
[13:28] {larisa}
[13:28] {larisa} use current shares 4th form the end
[13:28] {larisa} from
[13:28] {Threei} ty larisa
[13:29] {larisa} np
[13:29] {Threei} you are kind soul
[13:29] {Threei} unlike us, hardened drunk sailors
[13:29] {larisa} you even spelled it right :)
[13:29] {Threei} can you imagine? that's how strongly I believe in what I said
[13:30] {_vgdanger} wow this is awesome thank you!!
[13:31] {Threei} so it's basicaslly setting temporary default number of shares
[13:34] {_vgdanger} ok i see....great source many thanks again
[13:37] {nemo} index hod
[13:38] {Threei} OPTT did make a move
[13:39] {Les} losing volume though. BATS showing fewer trades on OPTT now
[13:39] {Threei} hmm?
[13:40] {Les} would have been nice to have been in on the first run
[13:40] {Les} but it's Friday night and I've just finished watching Gladiator with my son
[13:40] {Threei} this last bar has volume equal to the biggest one previously
[13:40] {Threei} 12:25
[13:41] {Les} would have to look it up in stockcharts to see that
[13:41] {nemo} yeah, volume increasing over the last 10 minutes
[13:41] {dino} good movie
[13:41] {Les} I assume laser provides realtime charting...
[13:41] {Threei} lol
[13:41] {lasertrev} Note: anyone on Laser, avoid Quoteserver 7 running a little slow
[13:41] {Threei} good one Les
[13:42] {nemo} yeah...the guy that played his original owner died filming that a bar
[13:42] {Les} in Malta
[13:42] {lasertrev} vgdanger: see pm above
[13:42] {nemo} yep
[13:43] {fernp} Gladiator and trading ... things I learn here
[13:43] {_vgdanger} got it thanks
[13:43] {Les} Vad can you provide me with screenshots of your laser layout please? I'm curious to understand it a little more.
[13:44] {Threei} how many screens do you have?
[13:44] {nemo} Vad's layout is weird
[13:44] {Threei} screenshots:
[13:44] {Threei}
[13:44] {Threei}
[13:44] {Threei}
[13:44] {Threei}
[13:44] {Threei} how are they weird??
[13:45] {Threei} although... I should probably accept this
[13:45] {nemo} I was just trying to fulfill the description somebody made of me while I wasn't here
[13:45] {Threei} what is werid to nemo just haas to be normal
[13:45] {Les} I've got 2 screens. the 28 incher can take two of your screens compacted, so I can fit a lot more info
[13:45] {strider} stopped RST
[13:45] {Les} than what I presently watch
[13:45] {strider} stupid stock.
[13:45] {Threei} OK, I can send you my layout file,
[13:46] {Threei} I am just not sure it will work like this
[13:46] {Threei} different number of screens of different resolutions
[13:46] {Les} will start to read the laser manual. Understand the system a little better
[13:46] {Threei} you may be better off recreating it from screenshots rather than reshuffling my layout
[13:47] {Threei} OPTT C&halfH
[13:48] {fernp} it's difficult to write that Vad, don't know how you do it :)
[13:48] {Threei} I practice
[13:49] {nemo} huh?
[13:51] {Threei} ok, I'll bite
[13:51] {Threei} what's so confusing nemo?
[13:51] {lasertrev} vgdanger: I sent you a private message, please respond
[13:51] {nemo} [13:47] {&Threei} OPTT C&halfH
[13:51] {Threei} ahh
[13:51] {Threei} OK
[13:52] {Threei} OPTT is a stock obviously
[13:52] {Threei} C is Cup as in Cup and Handle
[13:52] {Threei} & is and
[13:52] {Threei} half is half
[13:52] {Threei} H is handle
[13:52] {Threei} together is OPTT forms Cup and Handle, Cup is completed, Handle is half completed
[13:53] {Threei} Hope it helps.
[13:53] {nemo} weird
[13:53] {Threei} with I was tempted to code as Hih
[13:53] {Threei} but that would provoke another HUH
[13:53] {nemo} you gotta' put a threeish dictionary on the website
[13:53] {Threei} I thought about it
[13:53] {Threei} ad dismissed
[13:54] {Threei} see, it's a highly fluid alive ever-changing language
[13:54] {Threei} it changes every time I miss right button
[13:54] {nemo} I think magooish is easier
[13:54] {Threei} I don't want to put myself in rigid limits
[13:54] {Threei} that constrain my creativity
[13:55] {nemo} and I thought you were just making an excuse for your fat fingers
[13:55] {Threei} that's it
[13:55] {Threei} you got it right
[13:55] {Threei} but what an elegant excuse
[13:56] {nemo} no, I'd call it baffling with taurine excrement
[13:56] {Threei} not a lame one like "oh I just bought new keyboard, it's unfamiliar..."
[13:56] {dino} told my doctor i broke my leg in two places....he said stop going there
[13:56] {Threei} lol
[13:56] {nemo} tell the moth joke
[13:56] {Threei} handle is ruined on OPTT
[13:57] {dino} everyone knows it nemo
[13:57] {Threei} should have stayed above 9 for it to be valid
[13:57] {Threei} dino... nemo simply didn't get it still...
[13:57] {Threei} and forgot it on top of that
[13:58] {nemo} yeah, I was looking at it short
[13:58] {nemo} what do you call a moth that has one ball here.....and one
[13:59] {Threei} nope
[13:59] {Threei} you are telling it qrong
[13:59] {Threei} wrong
[13:59] {dino} lol
[14:00] {dino} what do you have when you have one moth ball here...............................and one moth ball here?
[14:00] {dino} pretty big moth
[14:00] {Threei} there
[14:02] {Threei} AIG
[14:02] {Threei} see this sudden pace pick up?
[14:02] {Threei} US House Appropriations Panel Chmn David Obey reportedly requesting the economy receive a larger 'kick' in order to assist long term deficits
[14:03] {Threei} requesting kick?
[14:03] {Threei} are we going for son of stimulus?
[14:03] {Threei} Market Internals update at 2:00pmET
[14:03] {Threei} - NYSE volume 630M shares, about 8% below its three-month average; decliners lead advancers by 1.5:1.
[14:03] {Threei} - NASDAQ volume 1.24B shares, about 15% below its three-month average; decliners lead advancers by 1.4:1.
[14:03] {Threei} - VIX index -4.5% to just under 24.50
[14:05] {_vgdanger} aig is forming a triangle on decreasing? volume on 15 min...does this mean its gonna explode ?
[14:05] {Threei} it already exploded
[14:05] {_vgdanger} 60 min actually
[14:05] {Threei} 60 min?
[14:05] {Threei} I don't watch this kind of chart
[14:06] {_vgdanger} i see.. just 1 min and daily right?
[14:06] {Threei} yes
[14:06] {_vgdanger} 1000 for daily?
[14:06] {Threei} yup
[14:07] {_vgdanger} still keeping any eye on hig for close?
[14:10] {Threei} I don't see any setups forming anywhere so far
[14:10] {Threei} weare simply locked in a tight range
[14:10] {Threei} something should start happening for me to try and get read on it
[14:11] {Threei} hmmm... do I read any futher e-mail starting with line:
[14:11] {Threei} Dear Small Businessperson
[14:12] {Threei} my immediate reaction is, go ... yourself
[14:13] {Threei} maybe I am too sensitive
[14:13] {bkhmd} nahhhhh
[14:13] {bkhmd} lol
[14:14] {Threei} but heck, even moth in dino's joke prided itself in being large
[14:15] {bkhmd} was Businessperson on first line or second line
[14:16] {Threei} it's a single line
[14:16] {bkhmd} ur safe then
[14:17] {dino} as long as he doesn't show up at your door and say, "dear businessman, i'm from the government and i'm here to help."
[14:17] {Threei} in this case I'd simply close the door
[14:17] {Threei} but if he said dear small businessman
[14:18] {Threei} I'd knick his teethout first
[14:18] {Threei} then close the door
[14:18] {Les} Vad WFMI appears to have reached its limits. Can you see a pullback here?
[14:19] {Threei} how do you conclude it's done?
[14:19] {nemo} hasn't reached r1
[14:19] {Threei} it's right under day high
[14:19] {Threei} and knocking on it
[14:19] {Threei} anyone's guess whether it breaks or fails
[14:20] {Les} looked like it was going to be held back until last three long candlesticks. sorry
[14:20] {Threei} new high
[14:20] {Threei} les, here is suggestion
[14:21] {nemo} trade what you see, not what you think
[14:21] {Les} go &uck myself?
[14:21] {Threei} lol
[14:21] {strider} bets on close?
[14:21] {strider} {------down
[14:22] {Threei} don't try to build your trading ideas on anything like :looks like"
[14:22] {Threei} leave it for much later, when you have years of experience under your belt
[14:22] {Threei} until then, build setuyps
[14:22] {Threei} and go from them
[14:22] {Threei} they trigger or not
[14:22] {Threei} they fail or not
[14:22] {Threei} period
[14:22] {Les} hmmm that means hours of reviewing your work and thinking...
[14:22] {Threei} not really
[14:23] {Threei} they are simple like rake
[14:23] {strider} SSRI short?
[14:25] {Threei} I ate this stock
[14:25] {Threei} hate
[14:25] {Les} you're right. That RIMM short this morning was based upon recognition of ascending wedge.
[14:26] {Les} or maybe pennant. Bulkowski makes no mention of my imaginary pattern
[14:27] {Threei} another suggestion is,
[14:27] {Threei} you need to start reading less
[14:27] {strider} SBUX spiek
[14:27] {strider} spike
[14:27] {Les} bloody hell you're busting my balls...
[14:28] {Les} how else do I learn setups?
[14:28] {magoo} u are not allowed to say "balls" in room
[14:28] {magoo} ballz ok..
[14:28] {Les} not even moths balls?
[14:29] {magoo} nope
[14:29] {Threei} I don't
[14:29] {Threei} ask ese how reading over 200 trading books worked for him
[14:29] {bkhmd} onlonly snow balls
[14:29] {Threei} and what he ended up with, setups wise
[14:29] {Les} bloody hell you're busting my snow balls...
[14:30] {bkhmd} Les May I chime in?
[14:30] {Les} so pattern recognition comes from? hanging out with someone more experienced? years of observation?
[14:30] {Les} yeh but no balls bk
[14:30] {bkhmd} Les May I?
[14:31] {Threei} starts with learning a few simple setups
[14:31] {Threei} got TTR?
[14:31] {Threei} look at thyem
[14:31] {bkhmd} look back at the set up with WFMI
[14:31] {Les} sure
[14:31] {Threei} they are simple as rake
[14:31] {Threei} you think you need 36 setups?
[14:31] {Threei} you need 5
[14:31] {Threei} 3
[14:31] {bkhmd} at 14at 14:12 it started a consolidation pattern after a jump up
[14:31] {Threei} 7
[14:32] {Les} sorry Vad, you mean examples 5, 3 and /?
[14:32] {Threei} nop
[14:32] {bkhmd} it broke out of that pattern then rested the support at which time it jumped. An aggressive entry would have been at the breakout of consolidation and safer entry after it tested that support it turned out to be a nice scalp but look at it now
[14:32] {Threei} number of setups you need
[14:33] {Les} gotcha bk.
[14:33] {Les} care to list them Vad?
[14:34] {Les} most common setups?
[14:34] {Threei} you just tend to wander all over the net and read everything written by everyone
[14:34] {Threei} they are all listed in TTR
[14:34] {dino} rrgb l .00 stop lod
[14:34] {Les} there's only 7?
[14:34] {bkhmd} the one you called out was a good valid set up for a scalp or longer if it was not so close to resistance
[14:35] {fernp} Les, read TTR and Trading in the zone and stay here for a while
[14:35] {bkhmd} look at it again its a classic actually straight from vads Book
[14:35] {fernp} you don't need much more
[14:35] {bkhmd} as well as Allns Book
[14:35] {bkhmd} Allen*
[14:35] {Les} ok. finished uni for the year so I've a few months to read on setups
[14:35] {Threei} who's Allen?
[14:35] {nemo} wow when was the last time aig had basically a .75 range
[14:36] {nemo} Wrench
[14:36] {bkhmd} Im Guessing your freind Vad
[14:36] {Threei} ?
[14:36] {dino} before the reverse spilt nemo, :)
[14:37] {bkhmd} Farley
[14:37] {Threei} oh Alan
[14:37] {bkhmd} actually thats how i found ur site
[14:37] {Threei} yes
[14:37] {bkhmd} ohhh sorry spelled his name wrong
[14:37] {Threei} he is one of very few educators I have respect for
[14:37] {bkhmd} his book Master Swing Trader was a tough read the first two times
[14:38] {bkhmd} after reading ur book I read his again and actually thought i might have understodd something
[14:38] {Threei} why, they best lines in it are very easy to read
[14:38] {Threei} let me find them
[14:39] {Threei} here it is:
[14:39] {Threei} Thanks for the special guidance of other professional traders and their ability to teach me new
[14:39] {Threei} things each day. Perish the thought that all there is to know about the financial markets has already
[14:39] {Threei} been written. It certainly has not, and these are the brilliant individuals who will continue to offer
[14:39] {Threei} inspiration in the coming years:
[14:39] {_vgdanger} i plan on readin that book this weekend actually
[14:39] {Threei} blah blahg balh,
[14:39] {Threei} and Vadym Graifer.
[14:39] {_vgdanger} is the hardright edge his site?
[14:39] {Threei} there
[14:39] {Threei} yes vg
[14:39] {bkhmd} now u know why i said thanks for the lesson
[14:39] {bkhmd} every day prior to leaving
[14:39] {_vgdanger} u use cylces in ur trading much?
[14:40] {Threei} cycles as in?
[14:40] {_vgdanger} market cycles?
[14:40] {bkhmd} Thanks for the special guidance of other professional traders and their ability to teach me new things each day.
[14:40] {Threei} it doesn't explain much about what you mean, vg :)
[14:41] {strider} Farley talks about "pattern cycles"
[14:41] {_vgdanger} good point let me read the book and ill ask a more edcuated
[14:41] {Threei} pattern cycle as in how pattern is being born, developed, then reverses on itself?
[14:42] {strider} It's his term....
[14:42] {Threei} I talk about it in MPP I think
[14:42] {bkhmd} wfmi near support large vol spike could we scalp a bounce?
[14:42] {_vgdanger} well from what i read on the site.....the market moves in almost precticatble cycles particulary midday...make sense or did interpret that wrong?
[14:42] {bkhmd} ooops too late broke that support
[14:42] {strider} frankly, I could never get through Farley's book. He's quite prolix.
[14:42] {Threei} oh, OK
[14:43] {nemo} triple top on Rimm
[14:43] {Threei} no, that's not my cup of tea
[14:43] {_vgdanger} gotcha
[14:43] {Threei} his book is not an easy read by any means
[14:43] {bkhmd} agree
[14:43] {_vgdanger} so ive read on amazon
[14:44] {Threei} and yes, he is a good friend, we even used to do seminars together
[14:44] {nemo} scary
[14:45] {Threei} nah.... hunting for a parking spot in overfilled lot in Anaheim with Alan driving is scary
[14:45] {Threei} just ask cosmo
[14:46] {_vgdanger} lol
[14:46] {Threei} ever seen shark circling the victim before lunging?
[14:47] {Threei} "here, this gal seems to be going to her car, let's drive behind her
[14:47] {Threei} crap, she just grabs her makeup... next"
[14:47] {Les} lol
[14:47] {bkhmd} girls are like that
[14:47] {bkhmd} lol
[14:48] {_vgdanger} only two "officialcalls " today right. want to make sure i didnt miss your calls
[14:48] {Threei} larisa was wise enough to take some other car... cosmo though has these memories burned in his mind
[14:48] {Threei} right... can't find much
[14:48] {Threei} narrow range
[14:48] {Les} damn vad, where's the prognostication that the market would bathe in blood? I wanna kill something.
[14:49] {fernp} two? I think is one
[14:49] {bkhmd} its not too late les
[14:49] {Threei} you remind me my favorite saying of russian antlers les
[14:49] {Threei} "if I didn't know fishing calms down nerves, I'd kill someone"
[14:50] {Les} antlers, oh right anglers
[14:50] {Threei} two fern, first one jst got invalidated before triggering.. SBUX long
[14:50] {fernp} yes, yes
[14:50] {Les} trading has same pacifying influence on me.
[14:51] {Threei} lol
[14:51] {fernp} I am not happy with this session, boring and losing friday.
[14:51] {_vgdanger} the hig never triggered?
[14:51] {Threei} it did, and got stopped
[14:51] {fernp} and with big slippage here
[14:52] {_vgdanger} me too
[14:52] {Threei} yeah, did that morning telepotration
[14:52] {_vgdanger} got 76 print on out
[14:52] {fernp} .77 here
[14:55] {Les} MSFT bounce Vad?
[14:57] {Threei} it dropped whole 12 cents
[14:57] {Threei} how much do you expect from bounce?
[14:57] {Threei} 3-5?
[14:57] {Threei} i it really worth it?
[14:57] {nemo} look at wfmi...that's tooo tempting
[14:58] {nemo} must be as many eyeballs on that as on that failed H&S in July
[14:58] {bkhmd} as in continued short or bounce Nemo?
[14:58] {Les} yeh put me foot in me mouth there.
[14:59] {nemo} continued short, but coul have small bounce...who knows...too easy
[14:59] {bkhmd} first bottom inside bands
[14:59] {nemo} whaddya think Vadley
[15:00] {Threei} SEPT CONSUMER CREDIT: -$14.8B V -$10.0BE
[15:00] {nemo} short
[15:00] {bkhmd} t&S looks like bounce
[15:00] {nemo} wow
[15:00] {bkhmd} ooops
[15:00] {bkhmd} lol
[15:00] {Threei} looks right to me
[15:00] {nemo} that number bk
[15:00] {Threei} soorry, got distracted by numbers
[15:01] {nemo} that kicked it
[15:01] {Threei} prior revised from -$12.0B to -$9.9B
[15:01] {Threei} - Annual growth rate -7.2% v -4.8% m/m
[15:01] {nemo} yeah...recovery
[15:04] {Threei} RIMM
[15:04] {Threei} interesting
[15:04] {Threei} holding above 58
[15:04] {larisa} 58.16 pivot res
[15:04] {nemo} broke that little trend
[15:05] {nemo} upward wedge in a weak stock
[15:05] {Threei} so... 15-17 break is long by you, pivot people?
[15:05] {nemo} what
[15:05] {larisa} not by me
[15:05] {nemo} you mean 58.17?
[15:05] {Threei} yes
[15:06] {nemo} without the pivot point where do you see resistance?
[15:06] {bkhmd} larisa can u explain that pivot is it the resistance of the trend line?
[15:06] {Threei} right at that level
[15:06] {Threei} I don't see pivots
[15:06] {bkhmd} resistance at .16 trend line?
[15:07] {nemo} 200 ma at 58
[15:08] {larisa} pivot is calculated based on previous day high, low, close, plus support levels. many people look at this levels when placing trades
[15:08] {bkhmd} I watched Rimm all day looking for short entry the tails scared me
[15:08] {bkhmd} thanks larisa
[15:08] {bkhmd} I drew trend line and it shows res at .16 as well
[15:11] {strider} RIMM getting very constricted
[15:11] {nemo} thanks Howard
[15:12] {bkhmd} lol
[15:19] {larisa} no life in anything. where is my -200 ?
[15:19] {Threei} yeah, anemic -13
[15:19] {Threei} it's not market, it's chopped liver
[15:19] {nemo} them's some weak volume numbers
[15:20] {Les} suspense and surprise left for Monday Morning, so we're left out of the feeding frenzy?
[15:20] {strider} QID support @ .36
[15:21] {nemo} we'll just do our lamprey impression
[15:22] {larisa} ENER can not produce any run into earnings. people gave up hope :)
[15:25] {Les} trading value colums red on freestockcharts. No volume. Prefer to sleep and hit Vad's book with early coffee. Night all.
[15:25] {Threei} take care les
[15:25] {Threei} ad keep in mind,
[15:25] {larisa} bye les
[15:25] {bkhmd} tc les
[15:26] {Threei} as far as I know, most books get spoiled if tou hit them woth coffee
[15:27] {nemo} crissakes you take any of these setups you'll pay more in commissions than you'll make on the move...sheesh
[15:27] {Threei} this is what happens when market stays this narrow.. why do you think I am not calling any trades
[15:27] {strider} because you hate us
[15:28] {Threei} that too of course
[15:28] {nemo} Because you're surfing for porn?
[15:28] {Threei} not all of you, mind you...
[15:28] {Threei} there are girls here, them I like
[15:29] {nemo} rimm actually did what it's supposed to do on the break
[15:29] {Threei} yes
[15:29] {Threei} but even RIMM, usually perky one, did it like rusty wheel
[15:30] {nemo} yeah
[15:30] {nemo} would have got stopped at 1:1
[15:30] {Threei} and you have to give me some credit... I have my new lens, and it's sunny outside... and I sit here winstead of going testing it
[15:30] {Threei} Market Internals update at 3:30pmET
[15:30] {Threei} - NYSE volume 805M shares, about 8% below its three-month average; decliners lead advancers by 1.7:1.
[15:30] {Threei} - NASDAQ volume 1.54B shares, about 17% below its three-month average; decliners lead advancers by 1.5:1.
[15:30] {Threei} - VIX index -4% to just under 24.50
[15:31] {Threei} volume dropped significantly too
[15:35] {_vgdanger} so are u just keeping an i on scanners for activity at this point?
[15:35] {bkhmd} lol
[15:35] {Threei} pretty much
[15:35] {bkhmd} he is putting the lens on his camera
[15:36] {Threei} lol
[15:36] {Threei} what to put... 2 seconds operation
[15:36] {bkhmd} i have never seen him make a call after 3:30
[15:36] {Threei} not true
[15:36] {nemo} wow rimm got momo...for this market at least
[15:36] {bkhmd} true i didnt say u have not i said i have never seen it
[15:36] {dino} cmi l .00
[15:36] {magoo} .
[15:37] {dino} out cmi +.12
[15:38] {_vgdanger} what was play on cmi?
[15:38] {dino} break of .00
[15:39] {dino} simple quarters breaks on mkt moving up
[15:39] {_vgdanger} meant set up
[15:41] {Threei} Short Setup: AAPL half lot 194 break
[15:42] {Threei} if stays under .15
[15:44] {strider} invalid?
[15:44] {Threei} yeah
[15:44] {nemo} yep
[15:45] {nemo} frickin rimm
[15:45] {bkhmd} i agree
[15:46] {strider} break means actual trade, not just inside market price, correct?
[15:46] {Threei} usually yes
[15:47] {larisa} see what I mean ? :) people need structure and exact instructions. This is why pivots work :)
[15:47] {bkhmd} Larisa do you have time to explain?
[15:48] {bkhmd} pivots meaning support and resistance from open? Previous day high low close etc..?
[15:49] {strider} Yeah, it's good to know what people mean by the words they use. :)
[15:49] {nemo} bk...plenty of resources on pivot points...they are also an indicator available in They're technical levels formed by stock action amplitudes
[15:49] {dino} exls spike
[15:49] {bkhmd} thanks nemo good homework for the weekend
[15:52] {fernp} this is a pivot calculator I utilized often when I was young : :-)
[15:53] {nemo} yeah...and many charting packages have them as indicators/studies
[15:53] {Threei} fern... I won't say anything about any pivots I used when I was young
[15:53] {bkhmd} thanks i think i have it available on my platform to automatically plot on chart i will play with it this weekend
[15:54] {fernp} lol
[15:54] {larisa} lol vad keeps it simple. More you know, more confusing life gets
[15:54] {bkhmd} do you think he really meant young or newer trader? lol
[15:55] {Threei} I don't know but ah, those pivots...
[15:55] {nemo} yes...but they often offer points of support and resistance
[15:55] {Threei} so true
[15:55] {larisa} for scalper to watch too many indicators is dangerous, you will miss the trade. need to keep it simple
[15:56] {_vgdanger} what was set up on aapl ?
[15:56] {bkhmd} throughout the day i draw line at points that the stock turns direction as support and resistance is this not pivot points?
[15:56] {dino} out shaw -.25
[15:56] {Threei} and be careful not to cloud your immediate perception by too many formal tools
[15:56] {_vgdanger} failed breakout?
[15:56] {bkhmd} to include previous day high low open
[15:56] {Threei} break of support
[15:58] {Threei} good thing it inval;idated before trigvgering
[15:58] {dino} out rst .42 -.08
[15:59] {dino} out rrgr .00, flat
[15:59] {nemo} bounced right around yesterday close
[15:59] {_vgdanger} that volume spike get u interested ?
[15:59] {_vgdanger} not sure i follow
[16:00] {dino} me? just ditching remaining trades
[16:00] {Threei} I am not even sure you are talking to me or nor vg, let;' alone what you mean :)
[16:00] {_vgdanger} 3i
[16:00] {_vgdanger} aapl play
[16:00] {Threei} just a range above strong support
[16:00] {Threei} Ok guys
[16:00] {bkhmd} good weekend all thanks for t he lessons
[16:00] {Threei} thank you all
[16:00] {Threei} let's have a good relaxing weekend
[16:00] {_vgdanger} thank u
[16:00] {nemo} gots to run...teaching tonight
[16:01] {larisa} bye all
[16:01] {Threei} see you all on Monday
[16:01] {larisa} nemo you are a teacher ?
[16:01] {Threei} nemo?
[16:01] {Threei} teachning who and what?
[16:01] {fernp} Have a nice weekend everybody. be good
[16:01] {Threei} I am scared to imagine huis students
[16:01] {magoo} waste f my life
[16:01] {Threei} must be scarred for life
[16:01] {Threei} same here mags
[16:01] {fernp} nemo is a teacher?
[16:02] {magoo} i may be done until new internet connection
[16:02] {dino} today would have been better if played as summer type scalpers friday. hmmm
[16:02] {Threei} god I hope not
[16:02] {magoo} lost last 3 days because of it
[16:03] {Threei} true dino
[16:03] {Threei} had this summer friday feeling to it
[16:04] {dino} yeah, felt same way, just wrote on friday the 13th; scalpers' friday" for reminder