Wednesday, May 26, 2010

Wed May 26 2010

Not big but decent day, with some nice trades here and there. The best of them in educational value was FAZ long. Recap with a screen shot is posted here , and real time commentary started around 11:30 am.

Session Time: Wed May 26 00:00:00 2010

[08:01] {magoo} morn
[08:10] {strider} morning, magoo
[08:17] {nemo} morning
[08:17] {strider} howdy
[08:22] {Les}
[08:24] {nemo} yep...definitely little kids in your house
[08:26] {Les} striders fault, his greeting made me do it
[08:27] {nemo} typical child response
[08:27] {Les} :)
[08:28] {strider} durable goods 8:30
[08:29] {Les} started on the essence of tao nemo
[08:29] {Les} some radically different thoughts there
[08:31] {Threei} Les... really worrying sign is when you start considering any other thoughts "radically different"
[08:31] {Les} not a criticism
[08:31] {Threei} I know
[08:31] {Les} but going to uni man
[08:31] {Les} we don't learn that
[08:32] {Threei} wait till you see trading applications of that system of beliefs
[08:32] {nemo} Too's arguably the oldest body of thought in the world
[08:32] {Les} suits me though, Taoism, since I'm a grumpy old shite that doesn't like to hang out with other people
[08:32] {Les} I'm interested
[08:32] {nemo} that's not the point
[08:32] {Les} yeh I kn ow
[08:34] {Threei} with each next chapter I think more and more that this is the only book really worth writing
[08:34] {nemo} wow
[08:34] {Les} started reading it cause I'm writing a paper that included similar thought from Kant, that has been ignored cause it is non-rational philosophy
[08:34] {Les} what, you're trading book?
[08:34] {Threei} yes
[08:34] {Les} your
[08:35] {Les} speaking of which
[08:35] {Threei} of course it's gping to be the least popular
[08:35] {nemo} Ah yes, the human belief that we are rational beings...wonder if strider will pipe in here
[08:35] {Les} I realised yesterday after closing that my thinking was totally out of sync with yesterdays market
[08:36] {Les} do people come into session here with plans for days outcome, cause I lost big picture screwing around with one trade yesterday
[08:37] {Threei} plans for days outcome?
[08:37] {ese} morning
[08:37] {Threei} ese :)
[08:38] {strider} American Superconductor should be bought today, says PacCrest
[08:38] {strider} Not tomorrow.
[08:38] {strider} Today.
[08:39] {Threei} okay...
[08:39] {ese} right this second
[08:39] {Threei} Les, not sure I understand
[08:39] {ese} mind if i have my coffee first
[08:39] {Threei} could be too late ese
[08:39] {strider} you just don't get it, do you ese?
[08:39] {strider} :)
[08:39] {Threei} American Superconductor purchase can't wait
[08:40] {ese} guess not
[08:40] {Threei} you can always make another cup of coffee
[08:40] {strider} Itr does have a nice chart, daily.
[08:40] {ese} ahhhhhhhh
[08:41] {strider} not daily....sorry
[08:41] {strider} was looking at 5 min.
[08:41] {strider} One small problem with laser.....charts don't ID the period.
[08:41] {strider} Seems like that's a small thing to ask.
[08:42] {Threei} huh?
[08:42] {Threei} look at the bottom of the chart
[08:42] {Threei} daily has dates
[08:42] {strider} that's true.
[08:42] {Threei} intraday has times
[08:42] {strider} and that's true also.
[08:43] {Les} I'd allowed myself to be trapped in a short when the market was going to the moon that's all. I could see it was going up and just failed to switch over to long entries
[08:43] {strider} Laser is very minimalist.
[08:43] {Threei} naturally strider
[08:44] {Threei} it was designed from the get-go as extremely efficient scalper's software
[08:44] {Threei} barebones, fastest execution possible with most convenient interface
[08:45] {Threei} a lot of bells and whistles were added much later
[08:45] {Threei} original version was like rake
[08:45] {Threei} no automatic stops for instance
[08:45] {Threei} because scalpers do not need them
[08:46] {Threei} Les... that's not the matter of coming with plan
[08:46] {Threei} that's matter of not locking yourself into opinion
[08:47] {dptl} morning
[08:47] {Threei} dp :)
[08:47] {Threei} and that, in turn, is a matter of understanding one's role in the world
[08:48] {Threei} if one thinks he can know the future,
[08:49] {Threei} it's arrogance that makes him insist on him being right
[08:49] {ese} dddddddddddppppppppppp!!!!!!!!!11
[08:49] {dptl} :) Ese
[08:49] {Threei} If one realizes that his knowledge is limited and reality can and often is different from his models
[08:50] {Threei} he doesn't get stubborn and allows the world (and the market) govern his actions
[08:50] {Threei} that's your Tao of the Markets for today {G}
[08:50] {Les} yeh some summer reading to do, along with part 1 of your book again
[08:53] {magoo} [08:36] {Les} do people come into session here with plans for days outcome, cause I lost big
[08:54] {magoo} les, thats the first thing a sucessful trader overcomes
[08:54] {ese} wow vad..........thats deep
[08:55] {magoo} must be flexible, let the tape tell u where we are headed
[08:56] {magoo} like today, really feels like we should blast off...BUT who knows, anything can happen, could have "flash crash the sequel today, who knows
[08:56] {Threei} (EU) PIMCO's Bill Gross: Restrictive lending rates may leave default as the "only way out" for some sovereign borrowers - Businessweek (related EUR/USD SOVRX )
[08:56] {ese} not for me least not for the days outcome
[08:56] {Threei} that's me ese... deep
[08:56] {Threei} now... wait for me, I need to go laugh
[08:57] {nemo} as in piled high and deep?
[08:57] {nemo} BS=taurine excrement
[08:57] {nemo} MS=more of the same
[08:57] {Threei} btw Les,
[08:57] {nemo} PhD=Piled High and Deep
[08:57] {Threei} looking at things from this point of view
[08:58] {ese} ouch nemo
[08:58] {nemo} that's what I learned after 6 years of higher education
[08:58] {Threei} see now why all the bickering back and forth about what is going to happen in the markets in a week, month or year makes me shrug and remove myself from meaningless mental masturbation?
[08:58] {nemo} ooh...reminds me of a joke
[08:59] {ese} lets have it
[08:59] {Threei} heavy editing is in orderd?
[08:59] {nemo} would have to be a dcc telling :)
[08:59] {ese} ahhhhhhh
[09:00] {Threei} CA) CANADA APR HOUSE PRICE INDEX Y/Y: 11.6% V 9.9% PRIOR
[09:00] {nemo} dcc ese
[09:00] {Threei} ese, if you value your innocence, don't look at it
[09:01] {Les} sqnm vad. .50 break noteworthy as setup?
[09:01] {Les} daily it looks important
[09:01] {Threei} I like the look of dailty overall,
[09:02] {Threei} but the resistance to break is fuzzy
[09:02] {Threei} .40 - .60 zone
[09:02] {ese} i cannot tell a lie.....i looked
[09:02] {Les} Nemo, that's a joke for bitter and twisted divorced man
[09:03] {nemo} I'm not bitter
[09:03] {Les} ok just twisted
[09:03] {nemo} Twisted....well.....yahh
[09:04] {nemo} then again...I think that's a case of the pot calling the kettle black.
[09:05] {Les} well duh
[09:05] {Les} anyone staying in vad's room gotta be nuts
[09:05] {nemo} even larisa and patience?
[09:06] {Threei} no, they just find observing us edcuational and entertaining
[09:06] {Les} dunno their story
[09:06] {Les} right
[09:06] {nemo} ahhh, like visitors at the zoo
[09:07] {magoo} AIG is due for a rip vad, if IF mkts remain strong, lets follow it
[09:08] {Threei} I'll try mags
[09:09] {Threei} but you know how this animal behaves
[09:09] {nemo} or doesn't as the case may be
[09:12] {Threei} UK) US Treasury Secretary Geithner: UK Chancellor's Osborne laid out strong compelling plan
[09:12] {Threei} - Osborne says Finacial market stability is in everyone's interest
[09:12] {Threei} - Happy to see Europe heading towards bank levy
[09:12] {Threei} - Geithner says important that Eu puts backstop plan into action
[09:12] {Threei} Happy to see Europe heading towards bank levy....
[09:12] {Threei} idiot
[09:12] {shorty} Good morning all
[09:12] {Threei} unless he means "you do that but we won't"
[09:12] {Threei} shorty :)
[09:13] {RonS} gm all. vrtx up on what i consider important news
[09:13] {ese} unless i'm blind......haven't seen anything stick out on your pre market action screen vad.....i miss anything
[09:13] {Threei} Ron :)
[09:13] {ese} ron
[09:13] {Threei} Vertex Pharmaceuticals Inc Phase III trial of Telaprevir in chronic hepatitis C shows promising results
[09:13] {Threei} - 75% of people chronically infected with genotype 1 hepatitis C virus (HCV) who had not previously been treated achieved a sustained viral response
[09:14] {Threei} Vertex plans to submit a New Drug Application to the U.S. FDA for telaprevir in the second half of 2010 for both treatment-nave and treatment-failure patients.
[09:16] {RonS} i have known people that got hep c from tainted blood transfusions. just terrible
[09:16] {nemo} yeah, my cousin got it from the vaccine guns in the army back in the early 80's
[09:16] {ese} terrible for sure
[09:16] {nemo} He went through 3 rounds of chemo
[09:17] {nemo} Turned out alright though. Hasn't been any sign of the illness in 13 or 14 years
[09:17] {Threei} larisa :)
[09:17] {nemo} lari :)
[09:17] {magoo} this open a toughie
[09:17] {magoo} pop - drop
[09:17] {magoo} drop-pop
[09:17] {larisa} gm :)
[09:17] {magoo} rip-rot-rip
[09:17] {magoo} rip-rip-rip-
[09:17] {Threei} I plan on waiting it oput mags
[09:18] {magoo} rot
[09:18] {ese} me as well
[09:18] {magoo} 'easier yester
[09:18] {nemo} market is in resistance area
[09:18] {strider} F again
[09:18] {magoo} likely hood of bounce had good odds
[09:18] {Threei} yeah, today is more of a toss
[09:19] {magoo} stocks are still oversold on short term basis
[09:19] {lasertrev} morning
[09:19] {Threei} trev :)
[09:20] {strider} TEVA weak
[09:22] {dino} gm all
[09:22] {nemo} hey binky!
[09:22] {Threei} dino :)
[09:23] {nemo} dcc dino :)
[09:26] {dino} strider you're getting your gap wish
06[09:26] * magoo slaps lasertrev around a bit with a large trout
[09:26] {strider} yeah:)
[09:27] {magoo} F rip vad
[09:27] {Threei} oh yeah, you had GE overnight
[09:27] {Threei} nice gap
[09:27] {strider} yep
[09:27] {strider} holding through open
[09:27] {Threei} pullback mags... only pullback will get me interested
[09:28] {magoo} just putting it on your radar, BP spike too here
[09:28] {Threei} F is relatively easy player when momo comes... under normal circumstances it's anything but
[09:28] {magoo} BP
[09:28] {magoo} sh@t
[09:29] {nemo} must made the top shot
[09:29] {magoo} bp trying to place lid on well today
[09:29] {nemo} yes
[09:30] {jfjf64} mornin
[09:30] {Threei} jf :)
[09:30] {Threei} BP, let it drop under 42 before trying long
[09:31] {Threei} GE) German Bundesbank: Euro zone defaults must remain possible
[09:31] {Threei} QTWW Awarded contract by Lockheed Martin
[09:33] {Threei} AIG
[09:33] {Threei} ugh
[09:33] {Threei} don't chase
[09:33] {Threei} if drops to 35, watch for entry
[09:34] {magoo} look WFC vad
[09:34] {Threei} Long Setup: AIG half lot .10 break
[09:34] {Threei} stop under .95
[09:34] {nemo} spy dancing at 200 ma
[09:34] {Threei} teleportation...
[09:34] {nemo} was already past
[09:34] {shorty} lol
[09:34] {Threei} was available for a few seconds
[09:35] {nemo} watch for double top spy here
[09:36] {Threei} Long Setup: WFC .10 break
[09:37] {dptl} in.11
[09:37] {nemo} yeah
[09:37] {Threei} stop under 29
[09:37] {Threei} not a scalp for me if works
[09:39] {nemo} 200 at .87
[09:39] {nemo} ma that is
[09:39] {Threei} let's go WFC
[09:40] {nemo} spy at resistnace
[09:40] {nemo} oh no, vad's infected me
[09:40] {Les} you infected yourself. you type too much
[09:41] {dino} vrtx sm s .25
[09:42] {Les} wow MS is no dog today
[09:42] {Threei} stopped
[09:42] {dptl} stopped
[09:42] {nemo} oh slippage
[09:42] {Les} gs looking weak too
[09:43] {jfjf64} \rimm
[09:43] {nemo} wfc pausing at the 200 ma
[09:43] {dino} cov vrtx .80, +.45
[09:44] {Les} damn didn't even see your entry
[09:44] {nemo} wfc rinse
[09:44] {dino} above les
[09:45] {Les} my bad, not yours
[09:45] {Threei} US) Preview: April New Home Sales due out at 10:00ET
[09:45] {Threei} **consensus expectation: 425Ke v 411K prior
[09:46] {Threei} Long Setup: AIG half lot .15 break
[09:47] {nemo} stop under .95?
[09:47] {Threei} depends
[09:48] {nemo} ahh scalp day swing
[09:48] {Threei} and bottom of this pullback
[09:48] {Les} wfc getting dumped
[09:49] {nemo} yeah, I thought short .84, but....
[09:49] {Threei} recalibrate AIG
[09:49] {jfjf64} lvs???
[09:49] {Threei} .10 break if holding 35
[09:49] {nemo} 1/2?
[09:50] {Threei} LVS, one more pullback
[09:50] {Threei} then I get interested
[09:50] {jfjf64} rimm +.28
[09:50] {Threei} like this
[09:50] {jfjf64} ty
[09:50] {Les} BP hovering under .50
[09:50] {Threei} AIG invalidated
[09:51] {Les} bp read vad?
[09:51] {Threei} none
[09:51] {Threei} BP will be dependent on top kill success
[09:51] {Threei} if we get unraday updates, it can influence the stock
[09:51] {nemo} they won't know for a couple of days
[09:52] {Threei} there will be blabbing around
[09:52] {Les} wfc bounce. breakdown entry?
[09:53] {nemo} aig two way play?
[09:53] {Threei} LVS, one more leg down, and let's hunt for a reversal
[09:53] {Threei} from under 22
[09:54] {Threei} WFC, I'd look for double bottom,
[09:54] {Threei} desirably holding .70
[09:54] {jfjf64} ii
[09:54] {Les} will do
[09:54] {Threei} and vreaking .80
[09:55] {nemo} rimm strong
[09:55] {dino} mos sm l .00
[09:55] {jfjf64} trend line ouchhhhhhhhhhhhhhhhh
[09:55] {dptl} wfc .80 long? valid?
[09:56] {Threei} held .70 so far
[09:56] {jfjf64} picture
[09:56] {nemo} indices topping again
[09:56] {dptl} in
[09:56] {jfjf64} lcc
[09:56] {Threei} LVS got away
[09:57] {Threei} reversed a bit too soon
[09:57] {dino} dia sm l .40
[09:58] {Threei} WFC 1:1
[09:59] {dptl} half out +.10 half out even
[09:59] {dptl} ty
[10:00] {Threei} US) APRIL NEW HOME SALES: 504K V 425KE (14.8% M/M
[10:01] {dino} wow
[10:01] {Threei} prior revised higher from 411K to 439
[10:01] {nemo} ahhhh...dino?
[10:02] {nemo} what wow, homes?
[10:02] {nemo} end of tax credit
[10:02] {dino} yes
[10:03] {Threei} FAS
[10:03] {Les} gs is a rocket
[10:03] {Threei} watching for sharp pullback,
[10:03] {nemo} dt
[10:03] {jfjf64} whats with all great trend line vad
[10:03] {Threei} long entry around 23.90 - 24
[10:03] {Threei} jf?
[10:04] {dino} dia to flat
[10:04] {jfjf64} txt rimm lcc
[10:04] {jfjf64} ect
[10:05] {jfjf64} just thinkin out loud
[10:05] {jfjf64} or with keyboard
[10:06] {dino} out mos flat, out dia flat
[10:06] {Les} wfc 29
[10:08] {dino} call me crazy, but mkt feels heavy
[10:08] {nemo} very
[10:08] {dino} dia s .40 sm
[10:11] {Threei} FAS is getting there
[10:11] {shorty} one more leg down?
[10:12] {Threei} yes
[10:12] {Threei} OK
[10:12] {Threei} 24.02 long
[10:12] {Threei} argh
[10:12] {shorty} went too fast
[10:12] {Les} in .03
[10:13] {dino} cov dia flat, i'm confused
[10:14] {Threei} AIG UK Serious Fraud (SFO) ends investigation into the UK opeations; cites insufficient evidence
[10:14] {Les} that's useful
[10:14] {Threei} half out FAS
[10:14] {Threei} or scalp
[10:14] {Threei} personal preference
[10:14] {dptl} missed
[10:16] {dino} sm l bwld .33
[10:16] {dino} thinny
[10:17] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:17] {Threei} **consensus expectations:
[10:17] {Threei} Crude: +250Ke
[10:17] {Threei} Gasoline: +500Ke
[10:17] {Threei} Distillate: +500K
[10:18] {ese} L akam .04
[10:18] {Threei} Les, offer above .20 if you still have so FAS
[10:18] {Threei} there you gop
[10:19] {Les} no had no faith in you sorry
[10:19] {magoo} .27 here
[10:19] {Les} chickened out prematurely
[10:19] {Threei} faith in me?
[10:19] {Threei} boy...
[10:20] {Threei} wow... Obama a Presidential Approval Index rating of -22. Thats the lowest Approval Index rating yet measured for this president
[10:20] {dino} micc sm l .24
[10:20] {Threei} this quickly turns into Obama's Katrina
[10:20] {ese} out akam .16 +.12
[10:21] {magoo} F'k fas
[10:21] {Les} that last fas long I was only long small shares and got out too quickly. was expecting sharp drop like now
[10:22] {Threei} mags, you are not breathing
[10:22] {Threei} natural trading is a breathing process
[10:22] {Threei} inhale and exhale
[10:23] {Threei} you are holding breath for too long in this volatile market
[10:23] {magoo} one heck of fall there ..was .21
[10:23] {Threei} I undersdtand the desire to maximize profits but it has to be done wih protecting them
[10:23] {Threei} partial out, then it will be natural process
[10:24] {Threei} vs. fighting the forces
[10:28] {Les} took you up on the DIA short dino. s .49. stopped previously
[10:29] {dino} gl
[10:30] {Les} :s
[10:30] {Threei} *DOE CRUDE: +2.45M V +250KE
[10:30] {Threei} oh boy
[10:30] {Threei} GASOLINE: -200K V +500KE; DISTILLATE: -270K V +500KE
[10:30] {Threei} you can swim in stuff, drink it, pour it out, and there still will be plenty left
[10:31] {Les} ha! who were these idiots raving on about peak oil?
[10:31] {nemo} it may have peaked, demand has collapsed here...not in India and China
[10:31] {shorty} l FAS .90
[10:32] {nemo} shorty watch .95 thats the 200 ma, fas often finds support or resistance in that area
[10:32] {Les} it was a joke dammit
[10:32] {shorty} ohhhh...thanks nemo
[10:33] {nemo} I watch it alot
[10:33] {shorty} I will try it.
[10:33] {Threei} it doesn't mean it's usefil shorty... he just likes watching it
[10:33] {shorty} lol
[10:33] {nemo} I like to watch....
[10:34] {shorty} I got out at .96 anyway
[10:35] {Les} dia stopped -.11 whiskey break
[10:37] {magoo} LVS bvad strong
[10:38] {Threei} everything is, moves woith market... valid readable setup is anotger matter
[10:39] {Threei} 22.15 break was, in retrospect
[10:39] {Threei} I just wasn't watching it at the moment
[10:40] {nemo} cat strong too
[10:41] {Threei} KNSY Receives FDA 510(k) Clearance for ECM Product, Meso BioMatrix Surgical Mesh (23.15, +0.94, 4.23%)
[10:42] {Les} interesting observations you had on BP. Like RIG it is stuck in pergatory
[10:44] {Threei} LVS, pullback to .15 - .20 is not possible entry zone
[10:44] {magoo} then why mention it?
[10:44] {larisa} lol
[10:45] {Threei} sigh
[10:45] {Threei} not = now
[10:45] {Threei} lol
06[10:45] * Threei slaps magoo around a bit with a large dictionary of Threeiish
[10:46] {Threei} .45 is C&H breakout
[10:46] {shorty} lol
[10:46] {Threei} ok mags, that was a good
[10:46] {nemo} 109.35 important level fo spy on daily
[10:49] {Threei} Libyan Oil Minister: OPEC members discussing weakness in oil price, seeking tighter compliance with quotas
[10:50] {Les} l GLD .02 stop under .90
[10:53] {dino} dia sm s .50
[10:53] {Threei} FAS
[10:53] {Threei} bounce hunt
[10:53] {Threei} LVS too
[10:54] {nemo} spy broke support
[10:56] {shorty} .61 Threei? If holds .50
[10:56] {Threei} feels like losing .50 is more likely
[10:57] {nemo} yeah, spy testing 200 at .90
[10:57] {shorty} hence why I usually wait for your call.
[10:57] {Threei} ok, .45 - .50
[10:58] {jfjf64} lvs .10
[10:58] {jfjf64} ??
[10:58] {dptl} in
[10:58] {Threei} yes
[10:58] {Threei} in FAS
[10:58] {shorty} in
[10:59] {Threei} 1:1
[10:59] {shorty} 1:1 ty
[10:59] {dptl} out .56 ty
[11:00] {Les} stopped gld
[11:00] {shorty} probably will go higher.
[11:00] {Threei} 1:2
[11:01] {Threei} 1:3, out in full
[11:02] {Threei} LVS over 1:1
[11:03] {Threei} Short Setup: BP .80 break
[11:04] {dptl} missed
[11:04] {shorty} I can't short it.
[11:04] {dptl} where was your stop ??
[11:05] {Threei} gosh.. what's with yelling
[11:05] {Threei} I am easuly scared
[11:05] {nemo} wuss
[11:05] {Threei} .90 for scalpers, 43 for day traders
[11:05] {Les} missed BP. took aggressive entry in LVS .09 instead
[11:06] {Les} short
[11:06] {dptl} ok
[11:06] {dptl} missed it
[11:06] {Les} lol dp
[11:06] {Threei} AIG (US) Fed General Counsel: Unlikely AIG will require more funds from the Fed, is on the path of sustainability - congressional hearing
[11:08] {Threei} - Federal Reserve anticipates that the loans under the Revolving Credit Facility, including interest and commitment fees under the modified terms of the Facility, will be fully repaid
[11:08] {Les} that's the casino money banks are playing with isn't it?
[11:10] {nemo} rimm bounce around here?
[11:10] {nemo} 200 is at .30
[11:10] {nemo} it bounced
[11:10] {dptl} it's a long weekend coming?
[11:10] {Threei} yes
[11:10] {Threei} BP
[11:10] {Threei} same setup
[11:11] {dptl} ty
[11:12] {dino} cov dia .32, +.18
[11:14] {Threei} invalidated
[11:14] {nemo} rimm bounced at the 200
[11:15] {magoo} was a good call rimm
[11:16] {nemo} the algo's sure seem to play off those ma's
[11:17] {RonS} nemo, what time frame is your 200 MA?
[11:17] {nemo} 1 minute
[11:17] {RonS} ahso
[11:17] {nemo} I am not!
[11:18] {RonS} ahso hawney :D
[11:20] {dino} vrtx sm l .45
[11:21] {Threei} Long Setup: LVS .25
[11:22] {Threei} invalidated
[11:23] {shorty} Have a good day all. Will see you Friday, taking kids out to the Zoo all day tomorrow.
[11:24] {Threei} take care shorty
[11:24] {Les} ciao
[11:24] {jfjf64} enjopy
[11:25] {jfjf64} .20 lvs vad
[11:25] {Threei} nah
[11:25] {Threei} spiked too vetically
[11:25] {jfjf64} k
[11:26] {jfjf64} i see
[11:26] {dino} cya shorty
[11:27] {RonS} starting to pay attention to the euro again, which just went to a lod and bounced a little
[11:27] {dino} dia sm s .95
[11:28] {nemo} vrtx holding nicely
[11:29] {nemo} cat at 200 :)
[11:30] {Les} bp at yesterday's close
[11:31] {Threei} feels like we are going to break down and get some wave of selling
[11:31] {dino} gap fill maybe
[11:31] {RonS} faz play 3i?
[11:31] {Threei} looking at it, yes
[11:31] {jfjf64} hmm maybe start hunting shorts
[11:31] {Threei} pullback to about .50 - .55 would be safe way of entry
[11:32] {nemo} fas holding .45
[11:33] {Threei} dino's gap fill if materializes would give us FAZ run to about 16
[11:34] {Threei} if marker reverses down again from here, .70 break FAZ...
[11:34] {Threei} although pullback is still me preferred way
[11:34] {Threei} my
[11:35] {nemo} pirate in ya'
[11:35] {Threei} yeah, lol
[11:36] {Threei} if break comes firstg, stop under .60, and aiming for 1:2 - 1:3
[11:37] {Threei} SEC could oblige US states and local Govts to disclose additional information on their debt levels; may require bond isurers to discloses more information on bankruptcies
[11:37] {Threei} ok, pullback it is
[11:38] {Threei} in .56
[11:38] {Threei} stop under .50
[11:38] {Threei} not a scalp
[11:38] {dptl} in.58
[11:39] {Threei} 1:1 was easy
[11:39] {jfjf64} like that
[11:40] {jfjf64} very cocky
[11:40] {jfjf64} lol
[11:40] {jfjf64} TY
[11:40] {Threei} sure thing
[11:41] {Threei} we need SPY to break 108.50
[11:41] {Threei} and stop resisting its destiny
[11:43] {dptl} half out
[11:43] {Threei} half out here
[11:43] {Threei} good thinking dp
[11:43] {jfjf64} LVS C/H
[11:43] {jfjf64} ??
[11:43] {Threei} nah
[11:44] {dptl} stop .54?
[11:44] {Threei} yes
[11:44] {nemo} nah or yes?
[11:44] {Threei} choose
[11:44] {nemo} oh on stop
[11:44] {Threei} ok FAZ
[11:44] {Threei} break and run
[11:46] {jfjf64} here we go
[11:46] {Threei} 1/4 more near .80 and last portion .90 - .95 is the plan so far
[11:46] {Threei} out 1/4 more
[11:46] {dptl} out .78 some more
[11:46] {jfjf64} GOOOOOOOOOOOOOOO
[11:47] {dino} hmmm
[11:48] {Threei} we are at 1:6
[11:48] {dptl} stop?
[11:48] {Threei} the power of ideally timed aggressive entry
[11:48] {Les} thank you vad for showing me the way
[11:48] {Threei} learn while I am alive
[11:49] {Threei} {GGG}
[11:49] {Les} eat less bacon
[11:49] {Threei} no way
[11:49] {dptl} where the stop for the balance Vad?
[11:49] {Threei} there is no frikin way
[11:49] {jfjf64} and imm buyin new pair of blue suade shoes
[11:49] {Threei} no idea dp
[11:49] {dptl} lol
[11:49] {jfjf64} ty
[11:49] {Threei} seriously
[11:49] {jfjf64} ohh boy
[11:49] {dptl} under .70 i keep
[11:50] {Threei} it spiked so vertically that there is no reasonable support to trail to
[11:50] {jfjf64} not another lesson coming
06[11:50] * Threei slaps jfjf64 around a bit with a large frozen trout with jagged edges
[11:50] {jfjf64} lol
[11:51] {jfjf64} comon im not asking where stop goes
[11:51] {Threei} the only concession I am willing to make health wise is one glass of carrot juice a week... and even that is only out of respect to larisa
[11:51] {jfjf64} dptl needs slap
[11:51] {Threei} ok
[11:51] {dptl} why
06[11:51] * Threei slaps dptl around a bit with a large frozen bottle of Grey Goose with jagged edges
[11:52] {jfjf64} ty
[11:52] {Threei} dunno, ask jf
[11:52] {dptl} maaan
[11:52] {Threei} I am just happy to slap
[11:53] {strider} slap-happy?
[11:53] {dino} whippy
[11:53] {dptl} all out now...ty
[11:53] {Threei} welcome
[11:59] {jfjf64} lvs gettin ready
[11:59] {jfjf64} ??
[12:00] {Les} lucky I had a cover order on lvs at .03. that bastard just won't go down
[12:01] {Threei} chart looks right, but we need confifent market reversal to the upside for this to work
[12:02] {dino} and all we've done is dropped since 10:40ish
[12:03] {dptl} you mean .20 break lvs if market goes?
[12:03] {Threei} yes
[12:03] {RonS} dino, rimm 60.00 break = gap fill?
[12:03] {nemo} spy forming inverse H&S
[12:05] {dptl} in lvs
[12:05] {dptl} stop under .10
[12:08] {dino} ron, i hate rimm
[12:08] {strider} fern, is that you?
[12:08] {Threei} lol
[12:08] {nemo} good one
[12:09] {dino} dia cov .17, -.22
[12:10] {nemo} faz might bounce around here
[12:10] {dino} sni spikey
[12:11] {dptl} is anybodyelse in lvs?
[12:11] {nemo} not me
[12:12] {Les} is I say no?
[12:12] {Les} if
[12:13] {dptl} so i am alone in this....
[12:13] {dino} dwa
[12:13] {Les} no dp, long LVS .21
[12:14] {Les} forgot to shut off stop loss program. was short FAZ there a moment. out +.03
[12:14] {dino} out vrtx .85, +.40
[12:15] {ese} nice dino
[12:15] {ese} been following that but didn't get in
[12:16] {dino} ferts stink today
[12:16] {nemo} cute
[12:16] {dino} ty es
[12:16] {dino} dwa sm l .00
[12:17] {dptl} torcher
[12:18] {dptl} lvs
[12:18] {nemo} you mean torture?
[12:19] {dptl} yes that
[12:19] {nemo} ahhh, I was thinking you got burned by something
[12:19] {dino} lol
[12:19] {dptl} lol
[12:21] {Threei} that reminds me a search in Walmart for tiki torch, with a friend who spoke almost no English,
[12:21] {Threei} and was so excited when found them that he yelled "torch:" in russian, so half of Walmart heard him
[12:22] {Threei} jusy so you know, torch is russian sound like "fuckel"
[12:22] {Threei} shoppers were elated...
[12:22] {dptl} lol
[12:22] {Threei} many many heads turned to see where the named subject was
[12:22] {jfjf64} fuckel
[12:22] {dino} bazinga
[12:23] {nemo} ?
[12:23] {jfjf64} lvs
[12:26] {RonS} BP winding up for a breakout from its channel?
[12:27] {RonS} just went
[12:27] {RonS} kinda
[12:28] {dptl} out lvs
[12:28] {RonS} sheesh...Part Owned by BP, Alyeska Pipeline Shuts Trans-Alaska System After Leaking Several Thousand Barrels 05/26 10:27 AM
[12:29] {dptl} +.03 lvs
[12:29] {Threei} (IT) Italy Union leader reportedly planning to call for a strike to take place in June
[12:29] {RonS} ...since they have July off...
[12:29] {Les} ditto dp. market support failing
[12:29] {nemo} August too, yeah
[12:30] {dptl} ye
[12:30] {Threei} and we have just a week left of may
[12:30] {Threei} June seems to be logical choice
[12:30] {Threei} AIG CEO: On track to repay the US for the assistance; currently expecting to complete sale of AIA, ALICO unit by year end
[12:31] {RonS} Federal Response Coordinator Approves BP's Top Kill Procedure 05/26 10:30 AM
[12:31] {RonS} ...were they gonna say no?
[12:31] {Threei} here comes daily dose of idiocy:
[12:31] {Threei} IT) Italy PM Berlusconi: Speculation helped to trigger current crisis
[12:32] {jfjf64} real meatball
[12:32] {Les} hehe Ron was that the Meth head or the guy screwing BP's executive who approved it?
[12:32] {RonS} i dunno bp strength...
[12:33] {Les} real class act, the Fed crew monitoring the oil industry
[12:33] {Les} This DefX for RAM seems to be doing the job Nemo
[12:34] {nemo} cool
[12:34] {Les} with Itunes running plus trading stuff still 1G free
[12:34] {nemo} yeah Microsuck and memory management
[12:35] {Threei} itunes is something vital to run during trading time, I understand
[12:35] {nemo} very perspicacious of you vad
[12:35] {Les} you taking the mickey out of me?
[12:35] {strider} insightful, too.
[12:35] {nemo} hehehehehe...I knew you'd pipe up Dunedin
[12:36] {Threei} sent me to a dictionary
[12:36] {strider} "curb prolix wherever you find it."
[12:36] {dino} i run music too
[12:36] {strider} maybe prolixity
[12:37] {nemo} perhaps sesquepedalian
[12:37] {dptl} is that english?
[12:37] {nemo} oops...sesqui...
[12:37] {nemo} of course dp
[12:38] {nemo} the only other language I speak is German
[12:38] {strider} well, super silly us.
[12:38] {Threei} BP string
[12:38] {Threei} strong too
[12:39] {strider} 12:32 EDT BP
[12:39] {strider} BP's "top kill" operation should be under way, Ken Salazar says
[12:39] {strider} Reported by Bloomberg.
[12:39] {nemo} if this doesn't work....oy frickin vay
[12:40] {RonS} ...BP still has not said they are going to do it...
[12:40] {Threei} heh... compare two nombers:
[12:40] {Threei} Italy PM Berlusconi
[12:40] {Threei} - sees 2012 budget deficit at 2.7%/GDP
[12:40] {Threei} - estimates that the black market economy is 22% of GDP
[12:40] {RonS} lol
[12:41] {Threei} is this cynic's delight or waht
[12:42] {Threei} mind-boggling: reining in just about 10% of underground economy would have covered budget deficit
[12:42] {RonS} bp re-cross 3i?
[12:42] {Threei} good management guys
[12:42] {Threei} I'd feel much safer with it 5-10 cents lower, rin
[12:43] {Threei} yep, like this
[12:43] {RonS} invalwoodated
[12:43] {Threei} in .81
[12:43] {nemo} ?
[12:43] {Threei} out half .87
[12:44] {Threei} stop to .79
[12:44] {Threei} remember our yesterday's discussion of major support levels to use for the entry zone?
[12:45] {Threei} .80 was one
[12:45] {ese} L sigm sm .55
[12:45] {Threei} out in full .94
[12:45] {Threei} nice and easy
[12:46] {ese} well done chief
[12:46] {Threei} and that's 20% of me larisa doesn't like?
[12:46] {Threei} crap, the rest 80 must be absolutely brillianrt
[12:46] {larisa} and why .80 was the one ?
[12:46] {Threei} look at 1 min, times:
[12:47] {larisa} not .85 not .90.. but .80 and .10 scalp :)
[12:47] {Threei} 11:47, then 12:28 to 12:32
[12:47] {Threei} then 12:37
[12:48] {Threei} kind of "surround" the .80
[12:48] {Threei} take it in fork
[12:48] {Threei} spike after breakjing it, then serves as support on pullback
[12:48] {Threei} another spike
[12:49] {Threei} so when hard pullback comes, this is where I am especially interested, it became natural sup[port
[12:50] {larisa} nah, not liking it still :) rather, not understanding.. when Ron says .85 and you say .05 lower, and it was dancing around it, beyond me :)
[12:50] {larisa} but you can have it :)
[12:50] {Threei} no, I was typing answer when it was jusyt above .90
[12:51] {Threei} so saying 5-10 cents lower I had in mind .80 - .85, and immediately added [12:43] {Threei} yep, like this
[12:51] {Threei} when it dropped while I typed
[12:52] {Threei} you are not understanding it for a simple reason larisa - it's not a matter of science, it's an art part... observe it to get a feel for it,
[12:53] {Threei} you will see that it works with a good percentage of success
[12:53] {Threei} not everything can be put in strict formula
[12:53] {Threei} what I outlined yesterday is as far as science part goes
[12:56] {larisa} to me it looks like scalp against the short term trend and i do not like it. but i admit, I am 98% science :) so please, let me be
[12:56] {nemo} whoa
[12:57] {larisa} you missed it nemo. yesterday we argued about it.. read the log, nice lecture by vad
[12:57] {larisa} i just do not get it :)
[12:57] {nemo} oh
[12:58] {Threei} yesterday's log from 13:00 nemo
[12:58] {dino} dwa stopped -.32
[12:58] {Threei} wow
[12:58] {Threei} CH) China Investment (CIC) President: France Govt has informed the CIC that its investment is not welcome within a particular company
[12:58] {Threei} - specific company is unnamed
[12:58] {dino} these gap open up days are not my thing
[12:58] {Threei} those are fighting words
[12:59] {Threei} want to see something funny?
[12:59] {Threei} look at XNPT,
[12:59] {Threei} now read:
[12:59] {Threei} XNPT Update: Price Target raised to $27 from $18 at Wedbush
[13:00] {Threei} thing is nowhere near 18, and shows no signs of going anywhere,
[13:00] {Threei} so they raise target to 27 thinking heck, maybe this way we could at least push it to 18
[13:10] {Threei} LVS... you guys dumped it before stop being hit why exactly?
[13:10] {nemo} no, I never got in it
[13:10] {dptl} market start looking bad at the time
[13:11] {Threei} some need to read on wu wei principle..
[13:12] {nemo} ?
[13:12] {dptl} ?
[13:12] {RonS} ...or Murphy...
[13:12] {strider} :)
[13:13] {Threei} non-interference
[13:13] {Threei} once trade is initiated, let it play out
[13:13] {Threei} you do not see the future
[13:13] {Threei} let nature take its course and don't think you know better
[13:13] {Les} what are we in?
[13:14] {dptl} ye but it almost touched 1:1 market turned would it be wise to get out flat?
[13:14] {Threei} if you think of what robbed you of this profit in terms on your inner traits, ansdwer will be: arrogance
[13:14] {nemo} or fear
[13:15] {Threei} 1:1? it was .26 the highest
[13:15] {Threei} maybe .27
[13:15] {dptl} 28. 2c from 1:1
[13:16] {Les} no you are right Vad. I had hard stops in place. should have let it run. LVS has shown strength today, and I ignored that
[13:16] {Threei} here is criteria for you dp:
[13:17] {Threei} was it a level where you'd consider taking scalp or partialling out?
[13:17] {dptl} was thinking scalp (mid day)
[13:17] {Threei} if yes, why didn't you? if no, why consider it 1:1 for stop trailing purposes?
[13:18] {Threei} see how this contradiction confuses you and leads you to erroneous decision?
[13:18] {Threei} I'd understand this approach if it touched your exit level and you missed yopur chance for exit,
[13:18] {Threei} then yes, trail stop
[13:19] {Threei} because price has been at what you consider close enough to 1:1
[13:19] {dptl} i had my order waiting at hits .28, market start going down,so i thought it's better to get out
[13:19] {Threei} there you go
[13:19] {Threei} you didn't consider .28 close enough to exit
[13:19] {Threei} but thought of it as close enough to trail?
[13:19] {Threei} makes no sense to me
[13:20] {dptl} it just happend so fast
[13:20] {Threei} it may seem insignifican dirrence to you simply because it's just 1-2 cents
[13:20] {Threei} but we are talking about the idea
[13:20] {RonS} ...must be some kinda strike...Frog horde closes major highway in northern Greece
[13:20] {Threei} yes, fast BUT:
[13:20] {nemo} ahhh the plagues have started
[13:21] {Threei} .28 wasn't a level you thought of exiting at and simply missed because it was fast
[13:21] {Threei} see my point?
[13:21] {Threei} lol nemo, what's next, locusts?
[13:21] {nemo} no
[13:21] {Threei} darkness?
[13:21] {nemo} Charleton Heston rises from the grave
[13:22] {Threei} I forgot
[13:22] {strider} all the wine is going to turn into water.
[13:22] {strider} vodka too.
[13:22] {nemo} that sucks
[13:22] {larisa} lol
[13:22] {nemo} world goes to hell and I have to be sober! WTF!
[13:23] {nemo} Water to blood Frogs Lice Flies Sick Animals Boils Hail Locusts Darkness Death of First Born
[13:24] {nemo} add #11 stupidest politicians in history
[13:24] {strider} dandruff
[13:24] {nemo} crabs
[13:24] {dptl} i thought you would trail it to break even after it touched 1:1,so when it almost did,i trailed it
[13:25] {Threei} yes
[13:25] {Threei} but you define "almost" too loosely
[13:25] {nemo} FAS break here Vad?
[13:25] {Threei} I gacfve you criteria what to consider close enough to 1;1
[13:25] {Threei} please read carefully what I said
[13:26] {nemo} [13:25] {nemo} FAS break here Vad?
[13:26] {Threei} looks like...
[13:26] {Threei} .87
[13:26] {Threei} in holding .80 from now on
[13:26] {nemo} in=if?
[13:28] {nemo} volume dropping
[13:30] {nemo} oh well
[13:30] {Threei} invalidated
[13:34] {Les} vad lvs .35?
[13:34] {nemo} big bid fas .80
[13:34] {nemo} not sure what that means for a stock like fas
[13:34] {Threei} I don't have a read on the market here, Les
[13:34] {Threei} stalemate
[13:34] {Threei} chart itself is right
[13:34] {Threei} market support is a big if
[13:35] {magoo} any read WFC here vad?
[13:36] {Threei} no...
[13:37] {magoo} wow..blunt
[13:37] {RonS} gs strong, pushing fas
[13:38] {Les} took it and out lvs +.09
[13:39] {dino} elx l .00
[13:39] {dino} stop .89
[13:43] {dptl} ye i see your point Vad..
[13:43] {Threei} (MX) Mexico deputy central bank gov Sanchez reiterates EU crisis should not slow Mexico economy
[13:44] {Threei} ummm... okay then...
[13:44] {Les} no
[13:44] {Threei} I also am sure that Brasilian recovery should not influence Mongolia very much
[13:44] {Les} drug trade is all american
[13:45] {dptl} long ceg .02
[13:46] {dptl} offering last peice .27
[13:46] {Threei} like 20 cents lower?
[13:46] {dptl} ye
[13:46] {Threei} thanks for telling us now :)
[13:46] {nemo} yeah, was thinking the same thing
[13:46] {dptl} was reading your comment
[13:46] {nemo} slap him with something vad
[13:47] {dptl} sorry
[13:47] {nemo} insufficient
[13:47] {Threei} yeah, I am not a believer in sorry eiother
[13:47] {nemo} I believe in expropriation
[13:47] {Threei} I believe in sufficient, cruel and merciless punishment
[13:48] {dptl} vodka?
[13:48] {Threei} hmmm
[13:48] {Threei} that could do
[13:48] {dptl} deal
[13:48] {nemo} well, you know I'm in that camp too Vad
[13:48] {Threei} we ahve a problem here nemp
[13:48] {Threei} nemo
[13:48] {nemo} send $40US to my paypal account and I'll get a big bottle of Ketel 1
[13:48] {Threei} dp is a believer in bribing
[13:48] {nemo} I'm a believer in beating
[13:49] {Threei} and that's where problem lies
[13:49] {dptl} i've been rased in ussr
[13:49] {Threei} if he offers a bribe in order not to be beaten... I am inclined to accept it
[13:49] {Threei} you can always threaten beating again in the future
[13:49] {nemo} o.k...(wish I could remember my paypal account)
[13:49] {Threei} so why not accept a bribe now
[13:49] {nemo} true
[13:50] {Threei} CEG meanwhile is close enough to .27
[13:50] {nemo} but, there is some fun in pugilistic endeavors
[13:50] {dptl} out
[13:53] {Threei} (US) Colorado State Univ: June 2nd hurricane report will state that US faces a "hightened threat" of an above-average 2010 hurricane season
[13:53] {dptl} pugilistic endeavors???...more and more i see that i don't know english at all
[13:53] {nemo} english may be the largest language
[13:54] {Threei} pugilism (pyj-lzm)
[13:54] {Threei} n.
[13:54] {Threei} The skill, practice, and sport of fighting with the fists; boxing.
[13:54] {dptl} ty :)
[13:55] {Threei} not when it comes to sophisticated multi-level and mutli-dimensional swearing, nemo
[13:55] {nemo} huh?
[13:55] {Threei} English is a kindergarten affair in that department
[13:56] {Threei} Long Setup: FAS
[13:56] {nemo} I don't know about that, we have the same words, and when I worked with the military, I met some true scatologically profane artists
[13:56] {Threei} crap
[13:56] {Threei} to late
[13:57] {nemo} truly
[13:57] {Threei} trust me... not even in the same city as Russian, let alone vicinity
[13:57] {Les} cool. would like to learn that
[13:57] {Threei} ok
[13:57] {Threei} FAS
[13:57] {Threei} .01
[13:57] {Threei} if holding .95
[13:57] {Les} in
[13:57] {Threei} what in?
[13:58] {Threei} didn't cross back
[13:58] {nemo} it's Les
[13:58] {Threei} come on
[13:58] {Les} crap, thought you were in when you printed .01
[13:58] {Threei} day of talking
[13:59] {nemo} maybe fas long break of .95 high volume hammer
[13:59] {nemo} bounced right at support
[14:00] {ese} catch you all tomorrow...still long sigm
[14:00] {Threei} take care ese
[14:00] {ese} cya vad
[14:00] {RonS} cya ese
[14:05] {dino} elx stopped -.11
[14:05] {dino} cya es
[14:06] {Threei} PIMCO's Bill Gross: Greek debt restructuring likely one or two years down the road; risk is the potential domino effect - TV interview
[14:06] {nemo} 2 2012?
[14:12] {strider} WFC breaqk of .50?
[14:12] {Threei} probably
[14:13] {nemo} fas bounce around here, 200 at .73?
[14:13] {strider} missed it.
[14:13] {nemo} oh yeah, look at the capitualtion candle
[14:14] {Threei} top kill operation has began... going to take 10 to 12 hours to determine whether successful
[14:14] {nemo} capitulation
[14:17] {nemo} fas holding, but could this be a two way if it loses .79, or breaks .75?
[14:18] {Threei} I don't see it asa play either way
[14:18] {Threei} just no setup
[14:19] {nemo} well, woulda' been 1:2
[14:21] {Threei} irrelevant to me if I don't see a clear play
[14:21] {Threei} accidental (not readable in terms of my system) move can come any time in any direction and of any size
[14:23] {Threei} (CH) China reviewing EuroZone bond holdings -FT
[14:23] {Les} wow was going to suggest WFC .40 break down, but bit late to the party
[14:23] {Threei} there... short at .87 with stop at .91 would have yeiled 1: gazillion here {G}
[14:24] {Threei} no way les
[14:24] {Threei} we talked about WFC short at .50
[14:24] {Threei} that was valid play
[14:24] {Threei} now it dropped to .40 in one vertical swoop
[14:24] {Threei} why would want to enter short?
[14:25] {Threei} come on guys, what's with ignoring the spikes when considering entries?
[14:25] {Threei} yesterday it was someone on a long side
[14:25] {Threei} oh wait, it was les too
[14:26] {nemo} Oh interesting, NYC has approved the building of a mosque on the 9/11 site
[14:26] {Threei} political corretcness gone mad?
[14:26] {RonS} ...near it...and 13 stories high...
[14:27] {Threei} (CH) China's SAFE reviewing EuroZone bond holdings - FT
[14:27] {Threei} - notes that SAFE holds approx 630B in Eurozone bonds and has been meeting with foreign bankers and had voiced concern on PIIGS
[14:27] {Threei} - a representative from SAFE has refused comment
[14:27] {Threei} - highlights that analyst have noted that SAFE would rarely trim its existing holdings due quantity of new money it must invest monthly
[14:27] {RonS} lol...SAFE
[14:31] {RonS} eur/jpy re-testing lows of day...breaking 110.00
[14:32] {dino} hitk sm l .15
[14:34] {Threei} one regret is not looking into FAZ around .40
[14:34] {RonS} euro lod's
[14:34] {Threei} from 14:00 to 14:10...
[14:34] {Threei} was a good moment to start participating in downtrend
[14:40] {Threei} Lithium Batteries is a Growing Swallowing Hzard
[14:40] {Threei} Darwin... I say l'et it work
[14:40] {Threei} just protect kids
[14:41] {nemo} nah...they grow up to be morons too
[14:41] {Threei} the rest can swallow batteries all they want as far as I am concerned
[14:41] {Threei} well, give them a chance
[14:41] {Threei} if they grow up as morons, they will swallow those same batteries
[14:41] {nemo} just look at the parents
[14:43] {nemo} possible DB fas?
[14:43] {dino} some day we'll run on batteries
[14:44] {dino} gap fill coming
[14:44] {Threei} I came up with the next big headline: Producing more batteries and diseeminating them freely is looked at as a method of increase of the average level of intelligence
[14:44] {Les} hmm
[14:45] {strider} and encourage the use of the buzzword "leadhead".
[14:45] {Les} could be on to something there
[14:46] {Threei} selling feels far from over
[14:46] {Threei} not liking that FAS idea nemo
[14:47] {Les} no db for fas?
[14:47] {nemo} nope
[14:47] {Les} death it is...
[14:48] {dino} ndx filled
[14:49] {dino} back in 15, prepare for market drop
[14:50] {Threei} Long Setup: FAS .80 break
[14:50] {Threei} stop under .75
[14:50] {nemo} .80???????
[14:50] {Les} ?
[14:50] {Les} faz
[14:50] {strider} what?
[14:50] {nemo} you mean faz
[14:50] {Les} ?
[14:50] {Threei} FAz
[14:50] {Threei} grr
[14:50] {Threei} sorry
[14:51] {Threei} crap, 1:1
06[14:51] * nemo slaps Threei around a bit with a large heavy something
[14:51] {dptl} sorry??lol
[14:51] {nemo} sorry?
[14:51] {nemo} good point don't have to send him vodka now, but I still expect mine
[14:51] {dptl} lol....
[14:52] {nemo} frickin' nimrod
[14:52] {nemo} not smart...another cup of coffee with chocolate
[14:52] {Threei} probably reversal time
[14:53] {Threei} not taking FAZ again
[14:53] {Threei} watching WFC for bounce instead
[14:53] {Threei} .30 break if holding .20
[14:53] {Les} grabbed .04 of faz
[14:53] {nemo} of what?
[14:54] {nemo} you mean fas?
[14:54] {nemo} no
[14:54] {nemo} .04 of what?
[14:54] {Threei} APOL Weakness attributed to circulation of document dated 5/24 from US Dept of Education on review of serious concerns about the Higher Learning Commision
[14:54] {Les} it's bloody written there ya frickin sheila!
[14:54] {nemo} oh .04 profit
[14:55] {Threei} ashes of dawg knowk in les's heart?
[14:55] {Threei} knock
[14:55] {Les} only when Nemo speaks vad
[14:55] {Threei} oh
[14:55] {Threei} understandable them
[14:55] {Threei} then
[14:55] {Threei} Long Setup: WFC .25 break
[14:55] {Threei} if holding .20 for scalpers
[14:55] {Threei} .15 for day traders
[14:57] {Threei} 1:1 for scalpers
[14:57] {magoo} keep calling them boss, im still RED
[14:57] {Threei} sheesh... dp the second
[14:57] {dptl} out 1:1 ty
[14:58] {Threei} they dig themselves a hole, I must dig them out, lol
[15:00] {dino} last try micc sm l .24
[15:01] {Threei} 1:1 for day traders
[15:01] {Threei} like fish in a barrel
[15:01] {Les} yeh getting the hang of laser. grabs shares quick. not too shabby
[15:02] {magoo} quit brahggin and keep shooting HE HE
[15:02] {dino} back in 10
[15:02] {Threei} no kidding? not much slower than IB?
[15:02] {nemo} ow
[15:02] {Threei} lol mags
[15:02] {Threei} let me enjoy the 30 seconds of self-directed limelight
[15:02] {Les} IB wasn't bad perse vad
[15:03] {nemo} quit while you're behind Les
[15:03] {Les} ok
[15:03] {Threei} lol
[15:04] {nemo} 5 year auction had record percentage taken by direct bidders....not good
[15:06] {nemo} fas an faz bounced right at the trend lines
[15:07] {Threei} FAS, I'd be delighted by drop under .30 for recross
[15:07] {nemo} don't think so
[15:08] {Threei} ok... .35?
[15:08] {nemo} works for me
[15:08] {Threei} here we go
[15:08] {nemo} then again selling is picking up
[15:08] {nemo} nice
[15:08] {Threei} don't care
[15:08] {Threei} .32 in, .42 out
[15:09] {Threei} faster than I could say mama
[15:09] {nemo} The vadster strikes
[15:09] {Threei} like young pioneer in USSR, "Always ready"
[15:10] {Threei} this time should dive deepr
[15:10] {nemo} you mousing, or hot keys
[15:10] {nemo} ?
[15:10] {Threei} mouse
[15:10] {Threei} but my way is:
[15:10] {RonS} ...w/ the way he types?
[15:10] {Threei} I have .35 in price window
[15:11] {Threei} rofl Ron, good point
[15:11] {Threei} and I use it on both sides
[15:11] {Threei} click buy when price is .31
[15:11] {Threei} click sell when price is .43
[15:11] {nemo} ahhhhhhhhhhhhhhhhh
[15:11] {nemo} so your order gets pushed to the front
[15:11] {Threei} why change it to exact price?
[15:11] {Threei} of course
[15:12] {nemo} no flies on you
[15:12] {Threei} when you understand how roouting works, you can do it efficiently
[15:12] {dptl} i do the same
[15:12] {nemo} so even though your sell order is .35 when the price is in the .40's you get that
[15:13] {strider} how is that different from using market order?
[15:13] {nemo} dp, all I care about is the money in my paypal account for the vodka
[15:13] {larisa} you are protected by .35 :) can not go lower
[15:13] {nemo} affects the rebate probably
[15:13] {Threei} strider, just limits the amount you are willing to chase to
[15:13] {Threei} imagine:
[15:13] {Threei} stock is at .31
[15:13] {Threei} you click buy right when for somereason offers disappear
[15:14] {Threei} market order may get you in too far up,
[15:14] {Threei} while limit .35 limits the amount of chasing
[15:14] {strider} what about the exit?
[15:15] {Threei} I simply do not bother with changing prices when I do this kind of rapid trading
[15:15] {Threei} nor changing buttons
[15:15] {Threei} I usually sell into strength
[15:16] {Threei} so I don't normally run a risk of chasing too far down
[15:17] {Threei} not sure about another round here
[15:17] {Threei} a bit too nervous tgrading
[15:24] {nemo} fas just about to hit closing price
[15:24] {nemo} gap dino woul say
[15:24] {Threei} yup
[15:25] {nemo} bounce?
[15:25] {Threei} no setup for one
[15:25] {nemo} nope
[15:25] {nemo} lotta' volume coming in though
[15:26] {Threei} this is not your usual selling
[15:26] {dino} what the
[15:26] {Threei} no bounce play in plans for me
[15:27] {dino} s/p filled
[15:27] {nemo} under 10k
[15:27] {Threei} looks nasty
[15:27] {Threei} no news
[15:27] {nemo} wow
[15:28] {Threei} [15:26] {Threei} this is not your usual selling
[15:28] {Threei} stay away
[15:28] {nemo} so...we gonna' start talking about the fas/faz cross?
[15:28] {Threei} this can end in huge selloff of huge bounce
[15:28] {Threei} no way to tell
[15:32] {dino} last hour craziness, sheesh
[15:33] {Les} so when we talk about gap fills
[15:34] {Les} we talking about the gap this morn?
[15:35] {dino} we filled
[15:35] {Les} ok, so a gap fill can be as quick as one session
[15:37] {dino} yes, just a simple fill, no matter how long
[15:38] {dino} gut says up
[15:39] {dino} dwa sm l .19
[15:40] {nemo} shrek hasn't gone so well
[15:41] {nemo} so does faz bounce at it's close or keep going down
[15:41] {Threei} I have no faintest clue
[15:41] {nemo} use the force
[15:42] {nemo} throw some chicken bones
[15:42] {dino} yoda
[15:42] {Threei} can't... colonel Sanders dropped by yesterday, no leftovers after that guy
[15:43] {nemo} I remember when that guy was alive
[15:44] {Les} I only remember when they wiped his face of restaurant logo
[15:44] {nemo} yeah...KFC
[15:44] {patience} you should see how well KFC is doing in china, on every corner, packed with huge lineups
[15:44] {patience} it is 'the' place to be with younger people
[15:44] {dino} yum brands
[15:45] {nemo} yep
[15:45] {Les} I can imagine that patience
[15:45] {Les} remember once scratching my throat with chicken bone in Rangoon
[15:45] {Les} thought it was lodged and was panicking
[15:46] {Les} shit, military state and looking for a hospital
[15:46] {Les} nice people though. worked out fine
[15:46] {patience} we should buy surveiollance camera stocks
[15:47] {patience} i was in remote areas, in the mountainhs 10 kilometres from tibet
[15:47] {patience} there were cameras there, amazing
[15:47] {dino} out dwa .25, +.06
[15:47] {Les} get rid of military govt, and I will push missus to live here:
[15:47] {Les}
[15:49] {dino} this market is like trading a week in a day
[15:52] {Les} I see time is up
[15:52] {Les} outta here. c u's tomorrow
[15:53] {RonS} c use tues. gotta go to hi for a graduation.
[15:53] {nemo} Have to go to Hawaii...what a bitch
[15:53] {RonS} somebody has to do it
[15:54] {Threei} lol
[15:54] {Threei} take care Ron
[15:55] {dptl} have a good evening all...see ya tomorrow
[15:57] {Threei} take care dp
[15:59] {nemo} gonna' end near the lows
[15:59] {dino} cya ron, dp
[15:59] {dino} les
[16:00] {Threei} thank you all
[16:00] {Threei} have a good evening, see you tomorrow
[16:00] {larisa} bye all
[16:06] {dino} gn all