Monday, June 7, 2010

Jun 07 2010

Chart wise, this is double bottom play (area market in yellow). However, finding an entry was a challenge, as confirmation level would give us too wide stop. For entry we found a little "setup within a setup" - look at out entry point and stop level closer and you will see that it's a little setup by itself - now zoom out again and look at it from the point of view of a bigger chart formation, that same double bottom.
Overall, that was a day of invalidation - one setup after another would invalidate before triggering. We got a few nice trades but the day left a feeling if "could have been much more."

Session Time: Mon Jun 07 00:00:00 2010

[04:48] {KSystems} morning
[08:32] {nemo} When Black Monday comes....(sung to the tune of Steely Dan's "When Black Friday Comes")
[08:33] {Threei} IMMU Reports Updated Results of Targeted Therapy for Advanced Pancreatic Cancer (3.45, 0.00, 0.00%)
[08:33] {Threei} black monday?
[08:33] {Threei} I see futs up
[08:33] {patience} good morning guys
[08:33] {Les} who is steely dan?
[08:33] {Threei} patience :)
[08:33] {nemo} I can hope can't I?
[08:34] {Threei} les :)
[08:34] {Les} afternoon
[08:34] {nemo} Oh, don't know Steely Dan?
[08:35] {Les} sounds like a brand of custard
[08:35] {nemo} Excellent music
[08:37] {Threei} Euro vs US Dollar (NV) Netherlands Fin Min De Jager: Euro fx rate around historical average; not concerned over long-term EMU stability
[08:40] {Threei} - Confident over Euro zone sustainability
[08:50] {Threei} (IT) Italy Debt Agency (Tesoro) To increase 2010 debt issuance plans to finance its participation in Greek aid package
[08:50] {Threei} - To issue up between 240-250B bonds in 2010; Have issued 102.7B ytd
[08:50] {Threei} - Conditions not right for new linker bond issue
[08:52] {Les} lol issue debt for bailout of debt. Gawd Monty Python material
[08:53] {nemo} yeah...just what I was thinking
[08:58] {Threei} (AS) Austrian Fin Min: No danger to EMU from Hungarian fiscal situation
[09:01] {Les} BP decent drop into 38
[09:01] {nemo} with volume
[09:02] {dino} gm all
[09:02] {Les} hey dino
[09:03] {RonS} gm dino & all
[09:03] {dino} :D
[09:03] {Threei} dino, ron :)
[09:05] {Threei} BP Goldman Sachs Cuts BP to Neutral from Buy
[09:06] {nemo} RIG balancing on the 200
[09:14] {magoo} morn
[09:14] {Threei} magoo :)
[09:14] {Threei} larisa :)
[09:14] {larisa} gm :)
[09:17] {Threei} EUR/USD (RU) Russia Central Bank publishes May currency intervention stats
[09:17] {Threei} - Purchased net $4.3B and 1.1B
[09:17] {Threei} what happened to all the "get out of USD"
[09:19] {shorty} morning all
[09:19] {Threei} shorty :)
[09:22] {lasertrev} morning
[09:22] {Threei} trev :)
[09:25] {Threei} AVII Enters $18M funding contract with the U.S. Defense Threat Reduction Agency for H1N1 - filing dated 6/4
[09:29] {jfjf64} mornin
[09:29] {Threei} jf :)
[09:29] {nemo} still can't believe Les never heard of Steely Dan
[09:30] {Les} bluesy rock sort of sound was not my thing as teenager
[09:30] {nemo} wasn't bluesy
[09:30] {Threei} Meeting between French Pres Sarkozy and German Chancellor Merkel has been cancelled - press
[09:31] {jfjf64} les was rockin to flock of seaguls
[09:31] {Threei} .short lvs .45 break
[09:31] {Threei} Short Setup: LVS .45 break
[09:31] {Threei} invalidated
[09:33] {jfjf64} bp
[09:33] {jfjf64} l
[09:33] {jfjf64} nope
[09:34] {Les} fas crash
[09:35] {Threei} ugh LVS
[09:35] {Threei} got away
[09:36] {jfjf64} vxx vad
[09:36] {jfjf64} fill gap
[09:37] {dino} whr sm l .99
[09:38] {Les} FAZ pullback to under .25 for long entry?
[09:38] {nemo} look at big
[09:38] {nemo} that could drop a long way
[09:39] {Threei} LVS bounce time soon
[09:40] {shorty} I was just going to ask
[09:41] {Les} l FAZ .56 stopu under .50 half out .61¨
[09:41] {jfjf64} +11 cents vxx
[09:41] {Threei} .93 LVS long
[09:41] {Threei} if stays above .85
[09:41] {dino} stopped whr -.33
[09:42] {Threei} invalidated
[09:42] {jfjf64} vxx grrrrrrrrrrrrrrrrrrr
[09:43] {jfjf64} bmy .97 break
[09:44] {Threei} Long Setup: LVS .90
[09:44] {Threei} if stays above .80
[09:45] {Threei} lol
[09:45] {Les} 1:3 FAZ out another 1/4 .70
[09:46] {Les} stop to b/e
[09:48] {nemo} hah! raven got booted
[09:48] {shorty} out lvs .10 + 27
[09:48] {shorty} .27
[09:49] {Les} last quarter stopped flat
[09:49] {Threei} wtg
[09:49] {Les} this bounce another shorting opp?
[09:50] {Threei} most likely
[09:50] {dino} whr sm l .50
[09:54] {Les} GG weak in this bounce. watching it for b/d opp later.
[09:56] {Threei} Long Setup: WFC .80 break
[09:57] {dino} air gap market
[09:58] {dino} out whr .55, +1.05
[09:58] {Les} kaching baby $$
[09:58] {jfjf64} nice dino
[09:58] {patience} nice one dino
[09:58] {dino} too soon
[09:58] {dino} ty
[09:59] {Les} half out wfc .85 from .77 long
[10:02] {Threei} let's scratch WFC here
[10:03] {Threei} market is too shaky
[10:03] {Threei} became 50/50
[10:04] {dino} sm l fdx .70
[10:07] {Threei} Raven, welcome back
[10:08] {Raven} hey ... nice to be back
[10:08] {Raven} It is not ... I lied
[10:08] {Les} Raven was gone?
[10:08] {Raven} sigh
[10:10] {Threei} WFC made it after all
[10:10] {Threei} viscous action here
[10:11] {nemo} thick?
[10:11] {Les} :)
[10:11] {ese} hi all just popping in to say high......will not be trading much the next week and a half as per other years.....last litle bit of school.then........FREEDOM!!!!!!! FREEDOM!!!!!! think aretha Franklin here
[10:11] {Threei} ese :)
[10:11] {ese} hey vad
[10:11] {dino} gm es
[10:11] {shorty} Was thinking LVS break .40?
[10:11] {nemo} she couldn't fit in the trading room ese
[10:12] {ese} market kinda up
[10:12] {ese} dino
[10:12] {ese} ya true nemo
[10:13] {Threei} not sure shorty
[10:14] {Threei} market hasn't rewarded this kind of entries lately
[10:14] {ese} patience....your back!!!!! did you get to the Oak Bay Tea Party on the weekend
[10:14] {shorty} Went up sharply, then stalled Threei.
[10:15] {shorty} Lately bounces have been rewarding at the start of the day.
[10:16] {dino} out fdx .90, +.20, mkt dropping
[10:16] {Les} refined my FAZ strategy. out +.05 3k
[10:16] {Les} too soon i see
[10:16] {patience} hi ese :) no, I didn't
[10:17] {ese} not a great day yesterday but nice saturday
[10:18] {patience} i'll see you at the Shish Kabob Party though :)
[10:18] {jfjf64} hoe bout them CELTICS
[10:19] {shorty} Still waiting on my invite for that one patience.
[10:19] {patience} talk to the Man
[10:19] {ese} definitely
[10:19] {dino} go celtics
[10:19] {jfjf64} luv it dino
[10:21] {Threei} LVS, one more sharp dive and will be intersting for bounce
[10:21] {RonS} go Ubaldo Jimenez
[10:21] {Threei} .10 break
[10:21] {Threei} if holding .05
[10:22] {Threei} barely touched 1;1... not what I wanted
[10:22] {shorty} stopped LVS
[10:23] {jfjf64} she want UP
[10:23] {jfjf64} IN
[10:23] {Les} miners a running
[10:23] {Les} are running
[10:24] {jfjf64} grrrrrrrrrrrrr
[10:25] {ese} ould that be the Glasgow Celtics
06[10:25] * nemo slaps ese around a bit with a large backboard
[10:25] {jfjf64} ty nemo
06[10:25] * nemo slaps ese around a bit with a large boston garden
06[10:25] * nemo slaps ese around a bit with a large Causeway Street
06[10:26] * nemo slaps ese around a bit with a large statue of Red Auerbach
[10:26] {ese} ya i deserve that
[10:26] {nemo} just gettin' started
[10:26] {ese} was trying to make a funny but knew i wouldn't get away with it
[10:26] {nemo} I'm from Boston dude
[10:26] {nemo} DB faz vad?
[10:27] {Threei} or breakdown
[10:27] {Threei} just as likely
[10:29] {shorty} stooped lvs
[10:29] {Threei} wow
[10:29] {Les} s lvs .99
[10:29] {Threei} stop was 5 cents
[10:29] {shorty} I tried it again .06
[10:30] {Les} l faz .06
[10:31] {Les} out faz +.16
[10:32] {Les} cover lvs +:10
[10:33] {jfjf64} les ya mind leave some for rest of us
[10:33] {Threei} sheesh FAZ
[10:33] {jfjf64} lol
[10:33] {nemo} broken clock moment
[10:33] {Les} i am good for the day jf. no problems
[10:33] {Threei} GS FCIC reportedly subpoenas the company for documents (141.66, -0.59, -0.41%)
[10:34] {Threei} jf, admin asked to ask you look your e-mail
[10:34] {dino} sm l dcth .98
[10:34] {jfjf64} k
[10:35] {Threei} Long Setup: FAS .55
[10:35] {Threei} if stays above .45
[10:36] {Threei} not a scalp, should be capable of 1:2
[10:37] {Threei} LVS COO: Asia is our future, though there may be some future expansion in the US - Goldman lodging conf (23.79, -0.46, -1.90%)
[10:37] {Les} lvs :(
[10:37] {Threei} invalidated
[10:39] {Les} jeez $gold going nuts
[10:40] {patience} gold up,canadian dollar up, usually commodities go up...not today
[10:42] {Les} c'mon market, you know you want to melt down...
[10:42] {Threei} can't get the rythm today
[10:43] {dino} pico sm l .00, thin
[10:44] {Les} faz .46 l
[10:45] {Les} lol laser says I bought FAZ at .14
[10:45] {Les} I'm rich!
[10:46] {larisa} demorich :)
[10:46] {dino} watching fdx, cvs
[10:46] {Les} :P
[10:46] {Threei} or, you still have position from lower prices that you don't notice,
[10:46] {Threei} and laser shows you avergae of your entry prices
[10:48] {Les} nah that's in order. Glitch I guess
[10:48] {dino} cvs sm l .50
[10:49] {Threei} FAZ, dive under .50 for bounce hunt
[10:50] {Les} out FAZ +.09
[10:51] {dino} stop cvs flat
[10:52] {Les} vad got a problem with level 2
[10:52] {Threei} ?
[10:52] {Les} ahh now I get it. friggin hell I'm slow
[10:52] {Les} if level 2 is showing faulty quotes, what do I change?
[10:53] {Les} quote server?
[10:53] {Threei} continent
[10:53] {Les} aaaaah funny guy
[10:53] {Les} changed quote server. fixed my problem I think
[10:53] {Threei} just a few cents, FAZ...
[10:54] {Les} wanted long FAZ at .65. but there was an offer at .... .14
[10:54] {Threei} not getting precise read today, most entries or invalidations are off by just 2-3 cents
[10:54] {Les} "limit price is out of range!"
[10:55] {dino} cvs held, hmmm
[10:56] {Les} wow $gold is seriously sick. what happened?
[10:56] {Threei} trhe same
[10:56] {Threei} Europe is sinking
[10:58] {Les} TLT 98 break with consolidation?
[10:58] {nemo} woe is me for not taking faz at .05 boo hoo
[10:58] {Les} i did. good risk/reward
[10:58] {dino} dji, ndx break of fri lod
[10:58] {nemo} yep
[10:58] {dino} s/p on it
[10:58] {Threei} TKT not my favorite way to play this breakdown
[10:58] {Threei} TLT
[10:59] {dino} s/p broke
[10:59] {Les} ok
[11:02] {dino} cvs sm l .40
[11:03] {Les} s GG.97 small
[11:04] {Threei} Long Setup: FAS .05
[11:05] {Threei} stop under .95
[11:06] {Threei} target around .30 - .40
[11:07] {Threei} BAC Countrywide unit settles case with FTC on overcharged fees; to pay approx $110M for reimbursement to homeowners (15.02, -0.33, -2.15%)
[11:07] {dino} fdx sm l .36
[11:09] {Threei} 1:1
[11:10] {Threei} half out .17
[11:10] {Les} all out +.10 ty
[11:10] {Threei} promise not to cry?
[11:11] {Les} nah I'm good now. I'll take the scalps as extra.
[11:13] {Threei} ok... scalpers win
[11:14] {Les} yeh this market is on a knife's edge in my humble and lowly judgement
[11:15] {Threei} (EU) IMF: Europe growth outlook remains weak
[11:15] {Threei} you don't say
[11:15] {Les} damn forgot to cancel fas stop loss. s .93
[11:16] {Threei} why do you need it at all?
[11:17] {Les} I like computer handling losses. Helping me immensely since using laser
[11:18] {Les} just gotta remember to turn it off
[11:18] {Threei} my bet is: in real life you will find it harming more often than helping
[11:18] {Les} if that be case then I'll switch over
[11:19] {Les} I have begun handling stops myself occasionaly
[11:19] {nemo} rimm Vad
[11:19] {nemo} oops
[11:20] {larisa} RIMM for reversal nemo?
[11:20] {nemo} possibly but looks like it wants to go short
[11:20] {nemo} yeah, wasn't holding the bid
[11:21] {dino} wow ma
[11:21] {nemo} no hands
[11:22] {Les} gg stopped -.26
[11:26] {Threei} FAS
[11:26] {Threei} 21 break long
[11:26] {Threei} stop under .95
[11:27] {Threei} what a breakdown, RIMM
[11:27] {Threei} we didn't short at .15 it why exactly?
[11:28] {nemo} Yeah, my second broken clock moment today...time for a nap
[11:28] {Threei} half out FAS
[11:28] {Threei} 1:2
[11:28] {Threei} scalpers feel free to take your lumps and go
[11:28] {Threei} I want my .30
[11:30] {Les} haha missed your call...
[11:30] {Les} no lumps to take
[11:36] {Threei} 1/4 more out .24
[11:37] {nemo} fas should keep going until it reaches .50 or spy reach .05
[11:38] {shorty} See you guys tomorrow.
[11:38] {Les} ciao
[11:38] {Threei} take care shiorty
[11:39] {dino} cya shorty
[11:41] {dino} dcth stopped -.33
[11:45] {dino} out cvs .83, +.43
[11:48] {Threei} .30 was perfect target
[11:51] {Les} how did you see .30 as target?
[11:52] {Threei} support from 10:30 - 10:40 period
[11:52] {Les} I see little bounce before b/d .30 just before 10.45am. a zone of consolidation?
[11:52] {Les} ok
[11:55] {dino} dcth blood
[11:57] {Threei} Congressman Steve Scalise (R-LA) to request that President Obama reconsider drilling ban in deepwater Gulf, citing economic fallout for the industry - WSJ (related USO OIH )
[11:58] {Threei} August gold within $10 from all time highs seen in early May (related GLD )
[12:05] {dino} out fdx .97, +.61
[12:05] {Threei} wtg
[12:05] {dino} ty
[12:08] {Threei} MS Fox's Gasparino: Morgan Stanley planning closure of 300 offices, and cut approx 1,200 jobs
[12:09] {Threei} be back in 20
[12:15] {dino} dcth gap filled april
[12:17] {dino} sm l dcth .00
[12:17] {dino} risky, stop is .63
[12:19] {patience} i've been away from scalping too long. totally couldn't execute the buy order for 3 stocks i am tracking. my gut just doesn't believe the charts....i'm overthinking it :)
[12:20] {dino} imo your gut is saying things are messed up. that's whtat mine is saying
[12:21] {Les} and I'm getting sucked into it. Hate it when the market does this
[12:21] {patience} but you are still doing trades
[12:21] {dino} small size patience, 300 sh
[12:22] {patience} good advice, i'll wait for the lunch time crowd to fade and see what the afternoon brings
[12:22] {dino} things are too random for bigger imo
[12:26] {dino} hmmm cf not following pot, mos
[12:28] {Threei} QTWW Subsidiary Signs Power Contract With Ontario Power Authority for Utility-Scale Wind Project in Northern Ontario
[12:28] {Threei} POS
[12:39] {Threei} Short Setup: BP .35 break
[12:40] {Threei} if stays under .40
[12:40] {Threei} invalidated
[12:41] {Threei} quite unusual number of invalidated calls today
[12:43] {jfjf64} lots
[12:44] {jfjf64} opinion
[12:47] {Threei} re-validated
[12:49] {Threei} two ways to play it
[12:49] {Threei} as a scalp with stop above .40
[12:49] {Threei} or day trade, .45
[12:52] {Threei} no go
[12:55] {patience} life sucks, have you noticed?
[12:55] {patience} i go to cash day before my asia trip
[12:55] {patience} my partner buys heavily
[12:55] {patience} he just skyped to say as of today he is up 20%
[12:56] {dino} but you had great vacation
[12:56] {Les} the money or a trip to china?
[12:56] {Les} hmmmm
[12:56] {patience} but i like the idea of making money while i am on vacation
[12:56] {patience} i am whining
[12:56] {dino} don't we all
[12:57] {dino} yes, you are. i'm surprised ;)
[12:57] {RonS} coulda been smacke w/ an '87 style crash patience...
[12:58] {RonS} "it's better to be out wishing you were in, than in wishing you were out"
[12:58] {nemo} you talkin' about stocks?
[12:58] {RonS} could be...
[12:58] {jfjf64} lol
[12:58] {nemo} :)
[12:59] {Les} why, what you thinking nemo?
[12:59] {RonS} :P
[12:59] {nemo} I don't think?
[12:59] {nemo} Actually, I think it's time for a drink
[12:59] {jfjf64} bingo
[12:59] {Les} way ahead of ya man
[13:00] {nemo} yeah, 6 hours ahead
[13:00] {RonS} ...what are you? w.c. fields re-incarnated?
[13:01] {dino} out dcth .31, +.31
[13:01] {nemo} I'm reincarnated...exactly what I am... no eye deer
[13:01] {RonS} dcth...dead cat trampoline high?
[13:01] {jfjf64} dino monster wtg
[13:01] {nemo} frickin BP
[13:02] {jfjf64} set up here 4 us
[13:02] {nemo} ?
[13:03] {jfjf64} in
[13:03] {dino} lucky
[13:03] {nemo} what, bp?
[13:03] {jfjf64} y
[13:03] {jfjf64} .30
[13:04] {Threei} grrr
[13:04] {dino} brb
[13:04] {jfjf64} out
[13:05] {Les} nice one jf
[13:05] {jfjf64} i hv to thank nemo
[13:05] {jfjf64} ty neno
[13:05] {Les} and here I've got the missus bugging me to scan school books for replacement teacher :)
[13:06] {jfjf64} nemo
[13:06] {nemo} wow, THREE broken clock moments
[13:06] {Les} you're a useful broken clock
[13:07] {Threei} AAPL CEO Jobs: Planning for iPad to be available in 19 countries by July end; 35M app downloads for iPads thus far
[13:08] {Threei} had a chance to play with iPad yesterday
[13:08] {Threei} I am yet to understand what this buzz is about
[13:08] {Les} you just don't get it!
[13:08] {Threei} no
[13:08] {Les} try a lobotomy...
[13:08] {Threei} I guess you have to be an iPod generation
[13:08] {Les} and then you too can become apple maniac
[13:08] {Threei} or that
[13:10] {dino} i don't get it either 3i
[13:12] {Threei} - Currently produced iPads as quickly as possible
[13:12] {Threei} - Users have downloaded 5M ebooks in first 65 days of iPad sales, estimates ebook market share at 22%. Updated iBook reader includes bookmarks, ability to make notes in e-books, and to read PDFs.
[13:13] {Threei} so can my 5 years old laptop... what's the big deal?
[13:13] {dino} all marketing i guess
[13:16] {Les} all need to identify ourselves with something or someone...
[13:16] {Les} even if it's with whacky bunch of traders like yourselves
[13:17] {dino} cf sm l .75
[13:18] {Les} drinking red wine from Midi du France and Manchego cheese from Spain. I hope to see Euro coming down a lot more in price
[13:20] {Threei} NFLX Ticks higher on announcement of iPhone version of app at Apple's WWDC (already available on the iPad) (111.75, +1.97, 1.79%) (related AAPL )
[13:22] {nemo} fcx, db maybe
[13:28] {nemo} RIMM CE&H?
[13:29] {nemo} ehhh....nah
[13:33] {nemo} damn, the C&H worked
[13:33] {Threei} headfake or rally
[13:34] {nemo} I think retest of the highs today
[13:34] {Threei} that ias the question
[13:34] {nemo} I thought it was "To be, or not to be?"
[13:34] {Les} threw away l FAZ entry. not wanting to find out
[13:34] {patience} rally
[13:34] {nemo} rimm having problems at the 200 and pivot resistance right here
[13:34] {Threei} that one was resolved by bee counters, nemo
[13:35] {nemo} cute
06[13:35] * nemo slaps Threei around a bit with a large copy of Hamlet
[13:35] {Les} huh?
06[13:35] * nemo slaps Threei around a bit with a large copy of Harold Hecubah's production of Hamlet on Gilligan's Island
06[13:36] * Threei slaps nemo around a bit with a large wooden beehive
[13:36] {nemo} ?
[13:36] {nemo} wooden?
[13:37] {Threei} Apple Inc CEO Jobs: Formally announces iPhone 4, one hundred new features including a front facing camera and camera with flash on back - WWDC
[13:37] {Threei} - 24% thinner, at 9.3mm
[13:37] {Threei} - Glass on front and back with steel on sides, noise cancellation mic
[13:37] {Threei} - GSM, Wi-fi, GPS, Bluetooth, UMTS
[13:42] {Les} a frikkin head fake, just after covering. such is life
[13:48] {Threei} UDRL
[13:48] {Threei} Union Drilling, Inc. Issues statement on rig accident well fire this morning
[13:48] {Threei} - Our first priority is making certain that those injured receive proper medical attention. The families of all employees injured in the accident, ours and those of BJ Services, are in our thoughts and prayers
[13:48] {Threei} - Union Drilling is cooperating fully with the well operator and all authorities in their resolution and investigation of this fire.
[13:49] {dino} cf stopped -.33
[13:50] {RonS} gs news?
[13:51] {Threei} not right now
[13:57] {Threei} BP doesn't drop wkith market this time
[13:57] {Threei} Long Setup: BP .25 brweak
[13:57] {Threei} if stays above .20
[14:00] {Threei} invalidated
[14:00] {Threei} word of the day
[14:07] {jfjf64} s bp .10 break
[14:09] {jfjf64} nope
[14:12] {Threei} [14:00] {Threei} invalidated
[14:12] {Threei} [14:00] {Threei} word of the day
[14:12] {jfjf64} lol
[14:14] {jfjf64} better then STOP
[14:14] {Les} faz breakout?
[14:15] {Threei} looks like
[14:15] {Threei} but heck
[14:15] {Les} buy first
[14:15] {Les} invalidate after
[14:15] {Threei} that's what I don't want
[14:17] {jfjf64} BP .35 break vad
[14:17] {Threei} no
[14:17] {Les} l FAZ .71 half
[14:17] {Threei} today's stratagey must be different
[14:18] {Threei} strategy too
[14:18] {Threei} let breakout go, wait for a drop, wait for breakdown to form, then buy
[14:18] {Threei} shaking out those who went for breakdown, stock will return to your original breakout and above
[14:19] {Threei} see BP invaliadting .25 break, forming .10 breakdown, bouncing all the way back and above
[14:19] {Threei} how may times today it happened?
[14:21] {larisa} too may :)
[14:22] {jfjf64} workin as we speak bp
[14:23] {jfjf64} .35 breakout
[14:23] {jfjf64} ect
[14:23] {jfjf64} correct
[14:26] {Les} managed to screw the stop loss on my FAZ l. stopped -.02.
[14:34] {RonS} aapl rotten
[14:35] {RonS} jobs says aapl to have aids...
[14:35] {RonS} wait, that was iads...
[14:37] {Threei} so, just as we discussed break or headfake, market reversed and dropped back to low
[14:37] {Threei} thus, we again have this eternal question
[14:37] {Threei} breakdown or headfake
[14:38] {Threei} (EU) EU's Juncker: Confirms that EU finance ministers have confirmed the details of the 750B Euro Zone bailout package
[14:41] {Threei} bailout package, to be "functional" this month
[14:41] {Threei} - Fiscal policy stance in the Euro Zone will clearly be "restrictive" by 2011.
[14:41] {Threei} - Special Purpose Vehicle (SPV) will be set up as a limited liability corporation to administer the bailout package.
[14:41] {Threei} - To hire CEO for the SPV soon.
[14:42] {Threei} Europe will pursue fiscal consolidation after 2011.
[14:42] {Threei} wow
[14:42] {Threei} ambitious
[14:42] {Threei} good luck
[14:42] {nemo} funny, actually
[14:42] {Les} voters say "over our dead bodies"
[14:43] {Threei} no kidding
[14:43] {Threei} fiscal consolidation? wars were fought over less significant issues
[14:43] {Threei} one actually over pretty lady
[14:44] {Threei} pretty by that time standards btw
[14:45] {Threei} - Estonia has won ministerial approval to join the Euro Zone from 2011.
[14:45] {Threei} {Estonia} did I really?
[14:46] {RonS} ...the city of denver has become estonia.
[14:46] {Les} With Russian tanks on border saying otherwise...
[14:46] {RonS} ...more pot dispensaries than starbucks...
[14:46] {nemo} things might fall off the cliff here
[14:46] {Threei} (EU) EU's Rehn: There now is zero uncertainty on Europe's promise to provide 440M in financial backing, if needed
[14:46] {Threei} thank goodness, said market and dropped
[14:46] {Les} good. s AUY .92
[14:46] {RonS} aapl is really heavy...
[14:47] {nemo} unless they can't float the bill
[14:48] {Threei} by the way, ancient Freeks were the ones warring over that damsel
[14:48] {Threei} Greeks
[14:49] {RonS} freeky too...
[14:49] {Threei} lol
[14:49] {Threei} freudian mistype
[14:50] {RonS} ...actually the ancient celts were the freaky ones...
[14:50] {Les} cover half auy +.08
[14:53] {Threei} (IA) US planning to provide the resolution on Iran this week
[14:53] {Threei} - Note: Germany, Russia, and China among other members of security council voiced their support over the weekend
[14:54] {RonS} do you spell weak?
[14:55] {RonS} ...the Chinese won't even reign in that idiot in no. korea
[14:55] {Threei} self-reigning USA is the only one successfully fighting for the title of self-imposed idiocy
[14:56] {Les} faz 17 break?
[14:56] {RonS} ...and the russian are going to prevaricate while they bask in their delusion of granduer.
[14:56] {Threei} chart wise, yes... all today's expertience wise, no
[14:56] {Threei} don't know what to say Les
[14:57] {nemo} fas more likely at the moment les
[14:57] {Threei} everything in me says market is not done punishing everything and everyone for Europe
[14:57] {Threei} but it doesn't translate into entries today
[14:57] {dino} ok chaos time, back in 10
[14:58] {Threei} oh good
[14:58] {Threei} now dino factor is being introduced too
[14:58] {nemo} that means faz should work
[14:59] {Les} I'm in
[14:59] {nemo} I was kidding?
[14:59] {Les} yeh yeh
[14:59] {nemo} [14:56] {nemo} fas more likely at the moment les
[14:59] {Les} get a life man
[15:00] {Les} let me put smiley face here:
[15:00] {Les} :)
[15:00] {Les} there, a joke nemo. it was a joke
[15:00] {nemo} you stopped out yet?
[15:01] {Les} yeh
[15:01] {Threei} I was not about to try and actually trade these counter-setup moves today,
[15:02] {Threei} but if tomorrow we see first reversal like this, going to try
[15:02] {nemo} fcx didn't move on this little up move, but absorbing huge volume
[15:06] {Les} 2nd half auy covered +.03
[15:09] {patience} i went all in around 1:30 eastern time....let's see how i do with overnight holds
[15:09] {nemo} wow
[15:10] {Les} long?
[15:10] {patience} yup
[15:13] {dino} turnaround tuesday
[15:13] {nemo} nah...this is consolidation before the next big leg down :)
[15:17] {Threei} FCX short was seriously tempting
[15:17] {Threei} too bad I resisted
[15:17] {dino} issue is the ndx gap at 1796 imo
[15:17] {nemo} yeah, I watched order flow, big seller at 60, couldn't lift
[15:19] {nemo} I wonder if they'll hit the fire alarm?
[15:21] {dino} seems so
[15:21] {nemo} When Black Tuesday comes....
[15:21] {Threei} FCX bounce time
[15:22] {jfjf64} watchin
[15:22] {jfjf64} .40
[15:24] {nemo} imo no short covering today
[15:24] {nemo} big offer .25 fcx
[15:25] {nemo} gone
[15:26] {Threei} one more leg down
[15:28] {jfjf64} lot fakeouts today
[15:29] {nemo} real low volume today
[15:30] {nemo} o.k. maybe this week we get the fas/faz cross...
[15:30] {jfjf64} boy not to long ago we had our 11k hats on
[15:30] {nemo} what's this "we" stuff Tanto?
[15:30] {Threei} look at it this way: we now have two more parties ahead,
[15:31] {Threei} for 10K and 11K
[15:31] {Threei} and if we are lucky to drop under 9K, three
[15:31] {jfjf64} 9k
[15:31] {RonS} ...or 9k and 8k...
[15:31] {jfjf64} hope
[15:31] {Threei} yup
[15:31] {nemo} or 7 and 6
[15:31] {jfjf64} fcx dropin
[15:31] {nemo} then of course, there's the Armageddon party
[15:31] {jfjf64} .56--.50
[15:32] {nemo} might get a bit of a bounce here if market bounces
[15:33] {RonS} ...kinda feel guilty...just noticed mags not here...
[15:33] {Threei} he left 20 min ago
[15:34] {jfjf64} one more leg down
[15:34] {jfjf64} fcx
[15:34] {Threei} .80 break
[15:34] {Threei} rime to try
[15:34] {jfjf64} k
[15:34] {dino} 118.87 euro/fxe
[15:35] {Threei} half out
[15:35] {Threei} or scalp if you want
[15:35] {jfjf64} ty
[15:35] {jfjf64} +13
[15:35] {dino} whr sm l .24
[15:41] {dino} stopped -.35
[15:42] {Threei} somewhat disappopinting day for me, even though positive
[15:42] {Threei} I had this feeling from Friday that we are in serous wave of selling
[15:42] {Threei} and couldn't find reloable short entries
[15:42] {nemo} Black Tuesday :)
[15:42] {jfjf64} fcx burried
[15:43] {jfjf64} wow
[15:46] {dino} -20% in 4 days
[15:48] {RonS} pretty much tracking the price of copper...although there was some significant negative separation today
[15:49] {dino} ndx filled
[15:52] {dino} fcx was 91 in april, brutal
[15:54] {jfjf64} good day all
[15:54] {RonS} cya jf
[15:55] {Les} not really. hoping tomorrow is better. ciao jf
[15:55] {Threei} take care jf
[15:55] {jfjf64} ciao
[15:55] {jfjf64} tell admin will touch base
[15:57] {dino} later all, thx
[15:57] {Les} ciao
[15:57] {RonS} cya dino
[15:57] {Threei} take care dino
[15:57] {Threei} thank you all
[15:57] {Les} night
[15:57] {Threei} have a good evining, see you tomorrow
[15:57] {Les} u too