Thursday, June 24, 2010

Jun 24 2010

Today's "catch of the day" chart is one of my favorite setups, ideal way to play double bottom. While chart annotations will give you all the visuals, let me list the necessary components that make odds very high on this kind of setup:
1. First bottom is set on higher volume and pierces lower Bollinger Band;
2. Second volume has lower volume and is contained within Bollinger Bands
3. Distance between the bottom price and peak between the bottoms is tight enough to give a comfortable stop.

Session Time: Thu Jun 24 00:00:00 2010
[08:29] {hawk} good morning idlers
[08:29] {Threei}  what did you call us?
[08:30] {hawk} now you're off the idlers list :)
[08:30] {Threei}  that was easy
[08:31] {Threei}  getting off nemo's disgruntled postal worker list is not that simple
[08:32] {hawk} lol, i'm just trying to stay off it
[08:32] {Threei}  we all are... but sooner or later you are bound to get on it
[08:33] {Threei}  and once you are in, it's a Hotel California
[08:34] {Threei}  (US) MAY DURABLE GOODS ORDERS: -1.1% V -1.4%E; DURABLES EX-TRANSPORTATION: 0.9% V 1.0%
[08:34] {Threei}  US) INITIAL JOBLESS CLAIMS: 457K V 463KE; CONTINUING CLAIMS: 4.548M V 4.55ME
[08:35] {Threei}  sheesh LTBR
[08:37] {hawk} wow
[08:38] {Les} lol that's an understatement
[08:40] {Les} guess I'll be looking for a short there today
[08:40] {Les} afternoon all
[08:40] {Threei}  is it onshort list for you?
[08:40] {Threei}  hi
[08:40] {Threei}  not here
[08:40] {Les} how do I see short list?
[08:41] {Threei}  test order, way above the market
[08:41] {Les} well if it's not shortable for real players, I'll leave it alone
[08:41] {Les} otherwise I'm just fooling myself
[08:44] {hawk} Vad, which ecn do you route thru?
[08:44] {Threei}  NASDAQ most often
[08:45] {Threei}  on NASDAQ stocks it will be default, on NYSE smart route can go to MLCO sometimes, so I switch to NASDAQ to avoid it
[08:45] {Threei}  not that it's bad, but can be just a tad slower
[08:47] {hawk} Ok, thanks.  I've been using all Island
[08:48] {Threei}  that'll work
[08:49] {hawk} yeah, seems to work fine, just wondered if there was a super secret method
[08:50] {Threei}  there is a "enter winning trades only" route
[08:50] {Threei}  but you get access to it only after 100,000 trades
[08:50] {hawk} if only
[08:50] {hawk} lol
[08:50] {hawk} so in another 2 weeks i should qualify
[08:51] {Threei}  you can speed up the process by buying and selling 1 shares of C all day
[08:55] {magoo} morn
[08:55] {Threei}  mags :)
[08:55] {nemo} haroo
[08:57] {dptl} morning
[08:57] {Threei}  dp :)
06[08:57] * nemo slaps Les around a bit with a large bottle of vodka
[08:58] {Les} ha! funny you should mention that!
[08:58] {Les} I found grey goose in the local shop this morning. got me a bottle
[08:58] {nemo} good stuff
[08:59] {Les} yeh no peasant swill. what are you doing drinking that?
[08:59] {nemo} am I supposed to laugh?
[09:00] {Les} :(
[09:00] {Threei}  (IR) IMF: IReland must go on with budget cuts in order to retain credibility
[09:03] {Les} wondering if affy can get a lift today
[09:04] {larisa} gm :)
[09:05] {Threei}  larisa :)
[09:05] {larisa} vad :)
[09:09] {RonS} gm  :O
[09:09] {Threei}  Ron :)
[09:11] {nemo} anything on the radar
[09:13] {Threei}  ummm
[09:13] {Threei}  LTBR?
[09:13] {nemo} bidu looks like it might be active also
[09:15] {Les} obama at it again:
[09:15] {Les}
[09:16] {dino} gm all
[09:16] {Threei}  dino :)
[09:17] {dino} q? do all of you trade from home?
[09:17] {nemo} y
[09:17] {hawk} y
[09:17] {Les} why? you wanna swap?
[09:17] {RonS} y
[09:17] {Les} I'll give you two kids
[09:17] {Les} you give me your office
[09:19] {Les} short answer - yes
[09:19] {dino} lol, thx
[09:20] {dino} back to business, imo watch the gaps 6/14 10190, 1845; 6/9 9899, 1778, 1055
[09:21] {Threei}  that's another disaster in the making, les
[09:21] {Les} well he can try and house the old vets...
[09:21] {Les} but what about the new ones he's creating?
[09:22] {shorty} morning
[09:22] {Threei}  shorty :)
[09:23] {larisa} empty houses in Detroit can satisfy all homeless in US
[09:23] {magoo} vad...i said 10 yester on it, but i meant yester
[09:23] {Les} good point lari
[09:24] {lasertrev} les dcc
[09:25] {Threei}  there is always 1998 somewhere, eh mags :)
[09:25] {lasertrev} good morning
[09:26] {dino} lol larisa
[09:28] {Threei}  trev :)
[09:31] {Threei}  watching RIG for bounce
[09:31] {Threei}  one more leg down most likely
[09:31] {Threei}  half lot, morning volatility
[09:32] {Threei}  .20 break
[09:32] {Threei}  not yet
[09:32] {nemo} pivot support at .13 didn't hold
[09:32] {Threei}  one more dive
[09:32] {Threei}  OK, should be ready now
[09:33] {magoo} in .07
[09:34] {Threei}  stop under .90 of course
[09:35] {magoo} rimm spiking
[09:35] {Threei}  LVS, pullback to 27 for entry
[09:37] {Les} 1st live trade went without a hitch. out rig +.09
[09:37] {magoo} must confess took ltbr .40
[09:38] {Threei}  congratulations Les
[09:38] {dino} gj les
[09:38] {Threei}  how's execution speed?
[09:38] {nemo} rimm drop
[09:39] {Les} will let you know. went a bit too fast to record my observations
[09:39] {nemo} hehehehe
[09:39] {Threei}  rofl
[09:39] {nemo} rimm bounce yep
[09:39] {Les} which probably means damn fine execution speed
[09:39] {nemo} damn
[09:39] {Threei}  come on LVS, one more leg down
[09:40] {Threei}  targeting 26.90 as zone of interest
[09:41] {Les} while not breaking .80?
[09:41] {Threei}  that would be ideal setup, yes
[09:42] {Threei} Short Setup: HAL  .50 break
[09:43] {nemo} stop above .65?
[09:43] {Threei}  depends on where it tops on this bounce
[09:43] {Les} apc dropping hard
[09:43] {nemo} looking at 9:32 candle
[09:44] {Threei}  maybe aggressive entry
[09:44] {Threei}  with stop above .65
[09:44] {Threei}  .60 break
[09:44] {Threei}  stop is ridiculously small
[09:46] {Threei}  DNDN Ticking higher after Humana confirms coverage of Provenge
[09:46] {Threei}  - Note: Aetna announced coverage in their plans on 6/22 (35.02, -0.11, -0.31%) (related AET )
[09:47] {dino} sm l esi .51
[09:47] {Threei}  no go HAL
[09:48] {Threei}  DNDN is reacting
[09:48] {Threei}  not too hot
[09:48] {jfjf64} lvs
[09:48] {nemo} fas bottom?
[09:48] {jfjf64} pullbk
[09:49] {Threei}  FAS, doesn't look like that
[09:49] {Threei}  LVS
[09:49] {Threei}  sharp drop
[09:50] {Threei}  BUNDS (GR) Greece 5-year Credit Default Swaps move above the 1,000bps level for fresh all-time highs - dealers
[09:50] {Threei}  one more LVS
[09:50] {nemo} spy weak
[09:50] {nemo} lvs maybe bounce .90
[09:52] {Threei}  if anyone took 27, just a scalp
[09:52] {Threei}  don't hang around too long
[09:52] {Threei}  this selling feels like picking up steam
[09:53] {bellowsbunch} morning.
[09:53] {Threei}  morning
[09:53] {Threei}  FAS
[09:53] {Les} hey bellow
[09:53] {nemo} cat short?
[09:54] {Threei}  one more move back to .60,
[09:54] {nemo} faz break .77?
[09:54] {bellowsbunch} anything happenin
[09:54] {Threei}  and if holding it, entry hunt is on
[09:54] {Threei}  ok, here it is
[09:54] {Threei}  .65 cross
[09:54] {Threei}  nemo.. .77??
[09:54] {nemo} faz
[09:54] {Threei}  whatcha talkin' about
[09:54] {Threei}  oh
[09:55] {Threei}  no
[09:55] {nemo} well, if fas fails, faz goes
[09:55] {nemo} bingo
[09:55] {Threei}  really?
[09:55] {Threei}  lol
[09:55] {nemo} yep
[09:55] {nemo} that's how it works
[09:55] {nemo} birdie told me
[09:55] {Threei}  thank you
[09:55] {nemo} np
[09:55] {nemo} de nada
[09:55] {nemo} pleasure is mine
[09:55] {Threei}  I will have to pondeer that infinite wisdom this evening
[09:56] {nemo} faz 1:1
[09:56] {nemo} yesss
[09:56] {Les} tried shorting fas.59 no go
[09:56] {dino} out esi .87, +.36
[09:56] {nemo} after how many bottles Vad?
[09:56] {bellowsbunch} gotta be some trade somewhere w market tank
[09:56] {dino} watching whr, ful
[09:56] {nemo} missed that cat short, bummer
[09:57] {nemo} yeah, just grabbed faz bb
[09:57] {nemo} looked away from cat breaking below .40
[09:57] {nemo} so yeah, there are trades
[09:57] {bellowsbunch} faz
[09:57] {bellowsbunch} ?
[09:57] {nemo} triple inverted financials
[09:58] {Les} watching TZA for pullback to .25
[09:58] {Threei}  FAS
[09:58] {bellowsbunch} short?
[09:58] {dino} reminds me of te triple lindy
[09:58] {Threei}  .50 break long
[09:59] {nemo} oh, sold more faz
[09:59] {nemo} so,eh, breakeven for last quarter
[09:59] {dino} dji filled 6/14 gap
[09:59] {Threei}  (GE) Germany Chancellor Merkel: G20 unlikely to agree on a financial tax (related IXG XLF )
[09:59] {dino} good
[10:00] {Threei}  FAS half out over 1:1
[10:00] {Threei}  scalpers with bigger positions, feel free to exit in full
[10:00] {nemo} faz out remainder
[10:00] {Threei}  over 1:2
[10:00] {dino} whr hl l .60
[10:00] {Threei}  1:3, out
[10:01] {Threei}  HBC Spain now investigating approx 3K spanish accounts held in Swiss bank branch of HSBC - SF chronicle
[10:01] {nemo} damn...only got 1:2 on faz
[10:02] {Threei}  bellows, you got FAS?
[10:02] {nemo} turning into the energizer bunny
[10:02] {bellowsbunch} y
[10:02] {bellowsbunch} ty
[10:02] {Threei}  cool
[10:02] {Les} damn look at GS off .50
[10:02] {hawk} thx fas vad
[10:02] {Threei}  not bad move for 5 cebts risk
[10:02] {Threei}  cents
[10:04] {dino} whr to .99
[10:04] {Threei}  LVS worked on 27 recross once again, had no time to comment
[10:04] {Threei}  if anyone stayed with it and observed, could get it... I'd need couple more eyes
[10:05] {dino} ful hl l .06
[10:05] {Threei}  and I look like freak of nature with current three already
[10:05] {dino} i understand
[10:05] {Threei}  ty
[10:06] {dino} out whr .45, +.85
[10:07] {RonS} gj dino
[10:07] {dino} ty
[10:07] {dino} you get it
[10:07] {RonS} late, but got esi, txs
[10:07] {dino} gj
[10:07] {nemo} yeah, whr was up .20 by the time you posted
[10:07] {dino} hmm thought whr was pulling back, but i was wrong
[10:07] {RonS} dndn
[10:08] {nemo} jeez dino
[10:08] {dino} what?
[10:08] {nemo} being wrong like that
[10:08] {nemo} crissakes
[10:08] {dino} wrong alot lately nemo
[10:08] {nemo} I remember this time last year was a minefield for you
[10:08] {dino} but damn, left .50 on table
[10:09] {Threei}  DNDN nice move on news
[10:09] {RonS} that thing is gappy, forget about it...:)
[10:09] {Threei}  they rarely react like this these days, most news go ignored
[10:09] {dino} yes, ironically, in 08 it ws july, 09 june 10 may, so i guess in 11 april
[10:09] {nemo} rig might be bottoming here
[10:10] {nemo} so, go to NC and play golf next spring
[10:10] {dino} i am considering ot
[10:10] {dino} it
[10:11] {dino} ot; todays local paper, we had the earthquake tremors
[10:11] {nemo} they were felt in boston yesterday
[10:12] {Les} gs db?
[10:12] {dino} crazy
[10:12] {nemo} rig did move
[10:12] {Threei}  no Les
[10:13] {Threei}  it may bounce, but no play
[10:13] {nemo} fas coming in to DB territory
[10:15] {dino} fgffgfgfgfgfgfgfgfg f wins out ful .22, +.16
[10:15] {nemo} ?
[10:15] {dino} fear or greed
[10:15] {Threei}  lol
[10:16] {dino} hate to say it but 3 for 3
[10:16] {Threei}  truly disgusting
[10:16] {dino} luv the gap down opens
[10:16] {shorty}  lol dino
[10:16] {Threei}  I don't know how you manage to even think that, let alone say
[10:17] {dino} i should go home
[10:18] {dino} hmmm esi
[10:18] {Les} down a few bucks since I last played it.
[10:19] {dino} watching same 3, strange fdx ups
[10:19] {nemo} fas again
[10:20] {Threei} Long Setup:  BP  .80 break
[10:20] {dino} we arte going positive
[10:20] {nemo} thou arte crazy
[10:20] {dino} hl l dia .25
[10:20] {dino} perhaps
[10:21] {nemo} you'll have alot of company
[10:21] {dino} trannies green
[10:21] {Threei}  let's get it aggressively if pulls back to about .75
[10:23] {dino} fcx wants green
[10:23] {dino} clf hl l .50
[10:26] {dino} :D
[10:26] {nemo} yes fas...
[10:26] {Les} kicking myself dino
[10:27] {nemo} allow me
[10:27] {dino} for what?
[10:27] {Les} clf
[10:27] {dino} ahh
[10:27] {dino} played it off fcx
[10:27] {Les} what's the connection?
[10:28] {nemo} got it Dino?
[10:28] {dino} same industry
[10:28] {dino} metals/mining
[10:28] {Les} oh sorry thinking fdx
[10:28] {Les} trannie
[10:28] {RonS} fcx copper/gold...clf iron ingots
[10:28] {Les} ok
[10:28] {dino} no, i used the trannies for my general up call
[10:29] {RonS} copper pricing is the key...ingots follow
[10:29] {RonS} copper firm at $2.99/lb right now
[10:30] {RonS} esi blood
[10:30] {nemo} so we're drowning in oil and suffocating in gas, and the prices don't come down, go figure
[10:30] {Threei}  BP's useless
[10:31] {Threei}  US) Secretary Salazar would like to keep the drilling moratorium in place until safety is assured
[10:31] {hawk} in more ways than one
[10:31] {Threei}  lol
[10:31] {nemo} Let me get this straight
[10:31] {nemo} No other nation has suspended deep water drilling
[10:32] {Les} no I read that nth sea nations have imposed bans
[10:32] {nemo} We're helping Brazil drill 3x deeper and of course, you got the Brits in the North Sea, and they're pulling this maneuver...WTF
[10:32] {Les} norway I think
[10:32] {Les} not sure if it still stands though
[10:33] {nemo} so, you make a claim, and then say you don't know
[10:33] {nemo} nice
[10:33] {Les} piss off
[10:33] {nemo} Finally
[10:33] {nemo} I feel fulfilled
[10:33] {Threei}  LVS
[10:34] {Les} pivot support .74 lvs
[10:34] {nemo} and you have early support at .78-80
[10:34] {nemo} oh well
[10:35] {dino} out dia flat
[10:35] {nemo} .75 recross
[10:35] {nemo} lvs?
[10:35] {nemo} nope
[10:36] {Threei}  one more dive under .60
[10:36] {Threei}  then recross if holding .55
[10:36] {nemo} getting support here
[10:36] {Threei}  1:1
[10:36] {Threei}  1:2
[10:37] {Les} done ty
[10:37] {Threei}  1:3
[10:37] {Threei}  nice and easy
[10:38] {dino} gj
[10:38] {Threei}  ty
[10:40] {Threei}  btw guys, while I remember
[10:40] {Threei}  don't forget to review today's "catch of the dayt" trade,
[10:40] {dino} salmon
[10:40] {Threei}  it will be perfect illustration to the ideal way to play double bottom reversal
[10:41] {dino} whr
[10:41] {nemo} speaking of DB, LVS?
[10:41] {Threei}  salmon... you just reminded me to soak the cedar plank in water
[10:41] {dino} lol
[10:41] {Threei}  not yet, nemo
[10:41] {nemo} no
[10:43] {nemo} LVS to .39?
[10:45] {RonS} whr blood
[10:46] {dino} waiting watching
[10:46] {Les} aig read vad?
[10:46] {dino} gut says ndx gap fill then up
[10:46] {Threei}  none, inactive
[10:46] {Les} ok
[10:47] {bellowsbunch} bp
[10:47] {dino} ndx s/p -4.6% since monday
[10:47] {nemo} bp break of .45
[10:48] {nemo} ?
[10:48] {Les} weak sob BP
[10:49] {nemo} ohoh 1080 spy
[10:49] {Threei}  rather feels like short to me
[10:49] {nemo} green Dino
[10:49] {Threei}  although .70 break was the best play... didn't watch it at the moment
[10:50] {Les} GLD starting up
[10:50] {RonS} whr sm l .20
[10:51] {dino} days not over yet nemo
[10:51] {Les} faz .70 break?
[10:52] {Threei}  can't tell
[10:52] {Threei}  no clean setup
[10:52] {Les} ok. thinking of playing the range. but yeh not clean plays
[10:53] {nemo} RIMM short coming?
[10:53] {nemo} BP too?
[10:53] {Threei}  BP, I think so
[10:53] {nemo} RIMM broke
[10:53] {nemo} was thinking .90 break
[10:54] {Les} missed the break bp. nice call
[10:54] {RonS} whr out .80 -.40
[10:55] {Threei}  US Senators have reportedly refused mandate for banks to pay for FNM and FRE during reconciliation of FINREG legislation
[10:55] {Threei}  - Senate negotiators reject House proposal to start orderly liquidation of Fannie and Freddie
[10:55] {dino} whoosh coming
[10:55] {Les} spy has pivot support here
[10:55] {Threei}  I need translation for that
[10:56] {RonS} the senate and house are fighting
[10:56] {Les} liquidate fannie and freddie. sounds good but who takes the mortgages?
[10:56] {dino} wasn't expected to be approved 3i
[10:57] {RonS} everything has a price Les...
[10:57] {Threei}  this is something I missedc completely I guess, can't put it in any context
[10:57] {dino} sell them off les 50 cents on the buck, there are buyers. but politically its suicide
[10:58] {dino} over thinking 3i, bottom line, fnm fre default/closure admits they are wrong
[10:58] {Threei}  RIMM good call
[10:58] {magoo} rimm report tonite"?
[10:58] {nemo} bouncing right off pivot support at .73
[10:59] {Threei}  yes mags
[10:59] {dino} ful l .15\
[11:01] {nemo} frickin' RIMM shakes me out
[11:01] {dino} enron skilling overturns fraud conviction
[11:03] {Les} tza developing a  .05 rhythm which I just profited from. sticking to it
06[11:03] * Threei slaps Les around a bit with a large roll of cash
[11:05] {Les} ahhh no. real money means no 5k trades for the moment. no screw ups on 1st day = no big profits either
[11:06] {Threei}  wh went for BP, almost 1:2
[11:06] {dino} ndx filled gap
[11:06] {Threei}  who went for RIMM, talk to nemo
[11:07] {Threei}  USD/CNY White House: President Obama to discuss the Yuan with China president at the G20 meeting
[11:07] {nemo} 1:4
[11:07] {nemo} I called BP too
[11:07] {Threei}  OK{ it's all yours
[11:07] {Les} bp still going. cool
[11:07] {Threei}  I already booked that monastery
[11:07] {nemo} :)
[11:07] {nemo} You're going to a convent I thought?
[11:07] {dino} nemo's the man
[11:07] {Threei}  and no larisa, they look much better thanin that image you posted
[11:08] {dino} hl l whr .50
[11:08] {Threei}  now I am envisioning the discussion about USD/CNY between those two
[11:09] {dino} my advice to you vad, drink heavily
[11:09] {Threei}  {President Obama} CNY
[11:09] {Threei}  {President Hu} USD
[11:09] {Threei}  {President Obama} CNY?
[11:09] {Threei}  {President Hu} USD!
[11:09] {Threei}  {President Obama} CNY?!?!
[11:10] {Threei}  {President Hu} USD!!!!
[11:10] {Les} CNY - canadian dollar?
[11:10] {Les} :)
[11:10] {Threei}  EU) EU's Rehn: G20 expected to agree on growth promoting measures and fiscal consolidation
[11:12] {bellowsbunch} bp wow
[11:12] {Threei}  - The banking sector in Europe is stronger than is perceived, expecting Slovakia to enter the 'financial safety net' in the EU
[11:12] {Threei}  - The proposal from Canada on fiscal consolidation is not enough
[11:12] {Threei}  {Slovakia} huh?
[11:13] {dino} sm l itri .55
[11:13] {Threei}  Only 28% Say Shifting Workers to Government Health Insurance Plan is Good
[11:13] {Threei}  I guess it the same 28% that are steadily happy with US direction
[11:14] {Threei}  48% See Government Today As A Threat to Individual Rights
[11:14] {Threei}  the rest 52% just fell from the oak and still don't remember the date or day of the week
[11:14] {dino} they are the collectors
[11:15] {dino} giddy-up
[11:15] {RonS} ...they are the lawyers
[11:15] {Threei}  curious albeit expected breakdown:
[11:15] {Threei}  Most Republicans (74%) and unaffiliateds (51%) consider the government to be a threat to individual rights. Most Democrats (64%) regard the government as a protector of rights.
[11:16] {Les} this is make or break area for BP
[11:16] {lasertrev} magoo dcc
[11:16] {Les} loss of 29
[11:16] {shorty} Threei...CENX, c/h pattern?
[11:17] {nemo} might be short reentry on RImm here
[11:17] {Les} lol vad, talk about holding beliefs being dangerous to one's health
[11:18] {Les} can see dem supporters first to the chopping block when it all turns to &%it
[11:18] {Threei}  you mean inverted, shorty?
[11:19] {shorty} sorry...yes Threei
[11:19] {Threei}  yes, chart configuration wise,
[11:19] {shorty} I am short .10
[11:19] {Threei}  a bit too narrow for my taste
[11:20] {dino} out whr .01, +.51
[11:21] {shorty} If it does not break .03 or .00 get out?
[11:21] {Threei}  you went for aggressive entry,
[11:21] {Threei}  so use advantage of it:
[11:21] {shorty} yes
[11:21] {Threei}  cover half,
[11:21] {shorty} ok
[11:22] {Threei}  keep stop above .15 for now,
[11:22] {Threei}  worst case scenario you are flat,
[11:22] {Threei}  if loses low, move stop to b/e,
[11:22] {Threei}  watch for sharp move down after breakdown to cover
[11:23] {shorty} thanks for the coaching Threei.
[11:23] {Threei}  sure thing
[11:24] {bellowsbunch} rimm
[11:25] {nemo} break of .50 was the play
[11:25] {shorty} done.  that was fun
[11:26] {dino} gj
[11:26] {shorty} be back in 15....thanks
[11:27] {Les} reversal here? break of .50 fas?
[11:27] {nemo} ?
[11:27] {Les} market finding its footing?
[11:27] {Les} caught the wave?
[11:27] {Les} found the beat?
[11:28] {dino} out itri .94, +.39
[11:29] {dino} drop coming, imo
[11:29] {Les} gs read vad?
[11:29] {Threei}  .10 short is obvious setup...
[11:30] {Threei}  but we are moving into random time
[11:30] {Les} yeh ok
[11:30] {Threei}  GR) Greece's Capital Markets Comission confirms extension of short sale ban through to Aug 31
[11:34] {dino} whr hl l ave .65
[11:34] {bellowsbunch} long whr?
[11:35] {nemo} yep
[11:35] {dino} yes
[11:36] {dino} bellows, hl=half lot, l=long
[11:37] {bellowsbunch} ty
[11:37] {dino} np
[11:38] {dino} np=no problem
[11:40] {bellowsbunch} nice
[11:41] {dino} lucky
[11:44] {Les} thanks dino out whr +.22
[11:45] {dino} gj, greed got me, still in
[11:45] {dino} wanted .05
[11:45] {Les} 1st live trade with your call. me chickensh&%.
[11:46] {bellowsbunch} thx dino
[11:46] {dino} np
[11:48] {Threei}  (CA) Canada Fin Min Flaherty: G20 to discuss sovereign debt targets; some countries need 'urgen't fiscal consolidation
[11:48] {Threei}  - Highlights thate there is not specific targets for fiscal consolidation
[11:51] {dino} wall at .00
[11:53] {Threei}  (CH) US Senator Levin (D-MI): Commerce Dept should decide within the next few weeks on whether an investigation into Yuan is warrranted
[11:53] {Threei}  - Feels investigation should determine whether or not the Yuan is a trade subsidy
[11:53] {Threei}  - Note: Yesterday prepared comments from the Commerce Dept remarked as such, affirming their stance that they were evaluating whether the Yuan was in fact a trade subsidy
[11:55] {dino} fsys
[11:55] {bellowsbunch} lvs
[12:00] {Les} wow whr nice
[12:01] {dino} out whr .clf hl l .05
[12:01] {Threei}  US Judge refuses to grant a stay on District court ruling on blockage of original 6 month deepwater drilling moratoriuml
[12:01] {dino} out whr ave .42,
[12:01] {dino} whr
[12:01] {dino} +.77
[12:02] {Les} :( scalpers regret
[12:02] {dino} darn whr
[12:05] {magoo} oil news vad? drillers maybe?
[12:05] {dino} lol, obamination going to be pissed
[12:06] {hawk} posted above mags, drilling moratoriam news
[12:06] {magoo} ty
[12:07] {RonS} ...dino, note to self and ctrp
[12:08] {dino} pulp type
[12:10] {dino} i was trading few weeks ago 37-39 range
[12:10] {dino} wanted it to come back
[12:10] {dino} holds well
[12:12] {RonS} ugh, talk about scalper's regret...esi
[12:12] {Les} beautiful chart
[12:12] {RonS} :s
[12:13] {Threei}  US Dollar v Russian Ruble (RU) Russia Dep Fin Min: Ruble strength is a problem for Russia, yet is inevitable if the price of oil increases
[12:13] {Threei}  - Highlights no imminent plans on capital controls, a Foreign Bond sale this year is a possibility
[12:13] {Threei}  - Notes that should use the Yuan, REAL, and Rupee as convertible in reserves
[12:13] {Threei}  real and rupee, eh
[12:13] {dino} wow esi 86-91
[12:13] {Threei}  try tougrik too while at it
[12:13] {RonS} For-Profit College Stocks Firm After Analyst Says Rule to Limit Aid May Be Delayed       06/11 12:05 PM
[12:13] {RonS} late w/ the news...
[12:19] {dino} out clf flat
[12:23] {dino} freaking clf
[12:32] {RonS} ...and now this...Japanese told to go to bed an hour early to cut carbon emissions
[12:32] {nemo} might increase methane emmissions though
[12:32] {hawk} lol
[12:32] {nemo} :)
[12:32] {Threei}  sigh
[12:32] {RonS} er, not going down that road...
[12:36] {dino} lol
[12:36] {dino} might increase population extra hour in bed
[12:36] {nemo} was just thinking that
[12:37] {patience} decrease in pharmaceudical sales for depression/anxiety meds
[12:38] {shorty} That reminds me patience.........
[12:40] {dino} uo oh
[12:40] {nemo} yeah, wondering where this is going myself
[12:42] {larisa} nowhere, shorty forgot to take his pill :)
[12:42] {nemo} SLB DB?
[12:43] {Threei}  50/50
[12:43] {dino} the purple one?
[12:43] {shorty} paxil.....
[12:43] {nemo} purple one...wrong app
[12:43] {shorty} no, rye is my pill...paxil is for my wife
[12:43] {nemo} well, that could alleviate depression
[12:44] {dino} re-test coming
[12:44] {nemo} I'm not sure what the big deal is if a condition lasts more than four hours
[12:44] {RonS} lol
[12:45] {RonS} ...and exactly waht would the doc do?
[12:46] {nemo} ?
[12:46] {larisa} show him the pucture of monastery girls
[12:46] {RonS} oh no...:D
[12:46] {nemo} go to Thailand?
[12:47] {magoo} rig bounce ready vad?
[12:48] {Threei}  no
[12:48] {dino} thats when you need to visit the head nurse
[12:48] {nemo} now there's one I'm not going to touch
[12:49] {RonS} one of my favorite bits on In Living Color...the head detective...
[12:51] {dino} fdx ups hold well still
[12:52] {Threei}  mags, RIG... if you want to try and catch bottom, watch for under 50, IMO
[12:52] {dino} fcx hl l .00
[12:56] {Threei}  crap
[12:57] {Threei}  who of you filks with all thse discussions just sent me an e-mail with subject line:
[12:57] {Threei}  Subject: Love Love pill Best Pharma!!!
[12:57] {lasertrev} sorry, that was me
[12:58] {dino} lol
[12:58] {Les} got a side business happening hey lt?
[12:58] {dptl} lol
[12:58] {lasertrev} lol:)
[12:59] {lasertrev} I want Vad as my spokesperson
[12:59] {larisa} he will call customers "filks"
[13:00] {Threei}  that will be my friendliest
[13:00] {lasertrev} lol, too funny
[13:00] {Threei}  normally I am nowhere that nice
[13:02] {Threei}  *(US) TREASURY'S $30B 7-YEAR NOTE AUCTION DRAWS 2.575%; BID-TO-COVER RATIO: 3.01 V 2.88 PRIOR AND 2.83 OVER THE LAST 5
[13:02] {Threei}  - Indirect bidders take 51% of competitive bids, with 65.7% allotted at the high
[13:02] {Threei}  - Direct bidders take 9.8%, primary dealers 39.2%
[13:02] {Threei}  - Median 2.53%, low 2.385%
[13:02] {shorty} BP
[13:03] {nemo} market reacted well to that
[13:10] {Threei} Long Setup:  SLB  .40 break
[13:10] {Threei}  half lot
[13:11] {magoo} not a scalp?
[13:12] {Threei}  looks like
[13:12] {dino} out fcx .38, +.38
[13:12] {Threei}  let's try to partial and milk it
[13:12] {magoo} yea
[13:12] {Threei}  very nice energy of eliminating that big .41 offer
[13:13] {magoo} mkts green today vad? trying
[13:14] {Threei}  DJI -70...
[13:14] {Threei}  by these days standard it's a 10 min walk, lol
[13:14] {magoo} was -120
[13:14] {Threei}  SLB 1:1
[13:19] {magoo} where stop
[13:19] {Threei}  .35 for me
[13:20] {Threei}  .30 if you don't care
[13:20] {Threei}  and are ready for flat
[13:21] {Threei}  scalpers win
[13:22] {Threei}  RIG is getting there
[13:23] {nemo} I tink it's there
[13:32] {nemo} yep, it was
[13:33] {dino} hl l meli .80
[13:35] {magoo} u miss any yet dino?
[13:36] {dino} two stops both flat
[13:36] {dino} some days you eat the bear
[13:39] {nemo} fcx break .60 could go straight to 65
[13:41] {nemo} RIG came back
[13:50] {Threei}  (GR) A bomb has reportedly exploded at the office of the Greek public order minister - Greece TV
[13:50] {magoo} so mkt pops lol
[13:51] {nemo} looks like spy wants 200 ma on the 5 minute
[13:53] {Threei}  Financials strengthen in early afternoon trading as the Congressional conference moves toward crafting final financial regulation (FinReg) bill
[13:55] {Threei}  Ron
[13:55] {Threei}  I know you are miserable without your daily dose, but the relief is coming
[13:55] {Threei}  guess who is coming on TV shortly
[13:55] {Les} geena davis?
[13:56] {magoo} roseanne barr?
[13:56] {Threei}  - The conference chairman, Barney Frank, has stated several times he expects to finish the FinReg bill by the end of today, June 24. He has also noted that if they do not finish work today, the bill would be delayed until after Congress' 4th of July break.
[13:56] {RonS} yes
[13:56] {dino} daffey duck
[13:56] {Threei}  to les and mags - you both wish
[13:56] {Threei}  dino... hmmm...
[13:56] {Les} barr - the fat chick?
[13:56] {Threei}  you may be right {GGG}
[13:56] {magoo} ya luv her
[13:56] {Les} lol
[13:57] {RonS} fas long?
[13:58] {Threei}  well, news can come any moment
[13:58] {Threei}  if they say no finreg bill today, FAS may drop faster than you can say mama
[13:58] {hawk} mama
[13:59] {Threei}  see? it cna drop faster than that
[13:59] {Threei}  cna = can
[14:03] {Threei}  Obama Takes Medvedev to Rays Hell Burger
[14:04] {Threei}  {Medvedev}, okay, you come to Moscow, I will take you to that pirozhkovaja on Arbat, food poisoning will be with you for months to come
[14:06] {Threei}  here they are
[14:10] {dino} stopped meli -.31
[14:10] {nemo} 1st loss
[14:15] {dino} y
[14:19] {dino} ctrp l .01
[14:33] {dino} ctrp stopped -.15
[14:34] {dino} break time
[14:37] {magoo} read RIG vad?
[14:37] {nemo} fas could be ready right around here
[14:38] {Threei}  feels like bounce but no firm read mags
[14:38] {magoo} fas, rather see .45 area
[14:38] {nemo} tinking lose .70 hold .65 and recross
[14:39] {magoo} im short it .51 vad
[14:39] {dino} ndsn drop
[14:41] {magoo} thought it follow slb bp
[14:42] {RonS} tsn
[14:42] {RonS} sfd
[14:43] {RonS} Chickens to Russia?
[14:43] {Les} china
[14:43] {Les} cny devalued 50%¨
[14:43] {Les} or is that overvalued
[14:43] {shorty} Cya tomorrow all.
[14:43] {Les} ciao
[14:45] {Threei}  take care shorty
[14:45] {RonS} cya shorty
[14:45] {nemo} 1:1 fas
[14:46] {nemo} tna looking long
[14:46] {magoo} cwlz
[14:46] {magoo} vad news
[14:47] {magoo} not avail
[14:47] {Threei}  no news
[14:48] {nemo} stopped faz
[14:48] {nemo} fas
[14:48] {dino} cwlz
[14:48] {Les} mags what's your target for RIG?
[14:49] {magoo} .08
[14:49] {magoo} .11 area, but dunno
[14:50] {magoo} slb bp lows, mkt looks bad
[14:52] {magoo} thats my read
[14:53] {dino} ctrp l.85
[14:54] {dino} abandon hope all ye who trade here
[14:54] {nemo} why?
[14:54] {nemo} Les still here?
[14:54] {dino} think about it
[14:54] {Les} ?
[14:54] {nemo} well, hope is a bad way to trade
[14:54] {dino} hope is the slayer of traders
[14:55] {hawk} hope floats
[14:55] {Les} 2/3 out rig mags ty
[14:55] {dino} they all float down here
[14:56] {hawk} they mostly come out at night, mostly
[14:56] {magoo} welcome, dont let it hurt ya
[14:57] {Threei}  nice trade folks
[14:57] {Threei}  I mean filks
06[14:57] * Threei squints at larisa
[14:58] {magoo} out target .11
[14:58] {Les} caught yer rig at .40 after last bounce FYI
[14:58] {magoo} .08 too
[14:58] {dino} gj
[14:58] {hawk} nice mags, caught it .41, thx
[14:59] {Les} thanks yeh all out
[14:59] {magoo} nice
[15:01] {magoo} i double exited and long 09
[15:02] {Les} ha was thinking long as well. but inebriated now so happy to finish on a good note
[15:03] {Les} pizza, women and tuscanny reds. It's summer time
[15:04] {magoo} gs ripping up, news
[15:04] {Threei}  no
[15:04] {Threei}  I guess finreg bill advances well
[15:05] {Les} Al Gore behaved like 'crazed sex poodle'
[15:06] {nemo} what?
[15:06] {nemo} he humped somebody's leg?
[15:06] {Les}
[15:06] {Les} so global warming was something different for him...
[15:06] {RonS} ...mashed a 52 year old.
[15:07] {Les} gotta love the integrity of our beloved leaders
[15:07] {nemo} is this going to become a "depends on what your definition of 'is" is"
[15:07] {RonS} ...prosecutor said she should have sent a thank you card, refused to press charges.
[15:07] {nemo} nothin' new
[15:08] {nemo} Hell, JFK turned the White House into a Cat House
[15:09] {RonS} bad joke...but w/ no evidence, no charges
[15:09] {magoo} wheres bounce on it vad? if any
[15:09] {Threei}  GS?
[15:09] {Les} l faz .81 stop .75
[15:09] {magoo} ya
[15:10] {Threei}  I don't have read on it
[15:10] {magoo} RIG getting raped
[15:12] {Les} half out faz
[15:12] {Les} .90
[15:12] {nemo} who pulled the plug
[15:13] {Les} 1/4 more .99
[15:13] {Les} all out. bounce zone for qqqq here
[15:20] {Les} l faz .01 stop .93
[15:22] {dino} ndsn hl l .50
[15:23] {Les} faz stopped.
[15:24] {Les} thank you all for a profitable 1st day as a career trader. c u's tgomorrow
[15:24] {Threei}  wait!
06[15:24] * Threei slaps Les around a bit with a large roll of cash
[15:24] {Les} duck
[15:24] {Threei}  now go
[15:24] {Les} ty sensai
[15:24] {Threei}  always
[15:24] {Threei}  just ask
[15:26] {nemo} shoulda' smacked him with a japanese/english dictionary
[15:28] {dino} cya les
[15:29] {dino} meli was a rinse
[15:32] {nemo} bye folks c u manana
[15:32] {RonS} cya nemo
[15:33] {Threei}  take care nemo
[15:33] {nemo} my age....
[15:33] {nemo} take it any way I can get it
[15:33] {dptl} have a good evening all
[15:33] {Threei}  take care dp
[15:35] {dino} ppt
[15:36] {dino} cya dp
[15:37] {magoo} FCX bounce vad?
[15:38] {Threei}  if holding .50 mags
[15:38] {Threei}  .60 break I'd try
[15:38] {Threei}  risk is minimal
[15:38] {Threei}  if loses it, no read for now
[15:53] {Threei}  again, don't forget to revioew today's catch of the day
[15:54] {Threei}  setups you must know
[15:54] {magoo} where?
[15:54] {Threei}  where is my frozen trout...
[15:59] {dino} out ndsn -.20
[15:59] {magoo} orcl and rimm vad, get to work lol
[16:00] {Threei}  lol
[16:00] {Threei}  go away
[16:01] {Threei}  ORCL Reports Q4 $0.60 v $0.54e, R$9.5BB v $9.5Be
[16:02] {Threei}  thank you all
[16:02] {Threei}  havce a good evening, ee you tomorrow
[16:02] {magoo} um..RIMM boss?
[16:03] {Threei}  not yet
[16:03] {magoo} what u think? bounce like orcl?
[16:04] {Threei}  lower...
[16:04] {Threei}  around .20 rather