Tuesday, June 8, 2010

Tue Jun 08 2010

Make sure to click on the chart for a larger view, as entry and stop are bunched closely together. This is out typical method of hunting for reversal: drop, slight bounce, consolidation defining mini-range to break and to place a stop (in this case .40 - .50), then breakout of that range. Clean move for 1:4 r/r after the break.

A lot of rinses and invalidations, but not bad day after all. Both shorts and longs worked (except when they rinsed us first). Funny enough, reluctant call for a top at 11:59 coincided with exact SPY top at the time. 13:49 call for reversal on X was more exact and paid off well.

Session Time: Tue Jun 08 00:00:00 2010

[08:17] {magoo} morn
[08:32] {Threei} (EU) EMU Fin Ministers reportedly approve Estonia to adopt euro for Jan 2011
[08:33] {Threei} {Estonia} hmmmm
[08:33] {nemo} so they get in at the bottom of the pyrmid scheme
[08:33] {Les} or are called upon to help their more established neighbours
[08:34] {nemo} bohica estonia
[08:35] {Threei} here is something to ponder about the oputcome:
[08:35] {Threei} (US) FT Alphaville comments on US dollar shortages
[08:35] {Threei} - Notes how foreign banks bought dollar-denominated assets before the credit crisis and this is a problem when US counter-parties will not trust some of these institutions.
[08:35] {Threei} **Reminder from March 2009: According to a BIS report, European banks face a US funding gap of about $2T - Telegraph's Ambrose Evan's Pritchard; The article adds that European banks may have problems rolling over debts; BIS said that European and British banks have relied on an "unstable" source of funding, borrowing in their local currencies to finance long positions in US dollars.
[08:36] {Threei} EUR/CHF Euro hits fresh all-time lows against CHF below 1.3815
[08:36] {nemo} mmmhhhhh....so what do they pay with? Their European companies?
[08:37] {Threei} I don't know.... this is something we haven't heard before unless I missed it
[08:37] {Les} sounds like an excuse to fire up the printing press again
[08:37] {Threei} all I heard was how US has to be sold to finance its debt
[08:37] {nemo} Yeah, to China
[08:37] {Threei} right
[08:38] {Threei} but is Europe has to be sold to US first, then we can resell it to China and be OK :)
[08:38] {Threei} is = if
[08:38] {nemo} good point
[08:38] {nemo} wouldn't that be funny
[08:38] {Threei} US) White House is directing agencies to develop plans to cut at least 5% from their budgets - Washington Post
[08:38] {Threei} - The request follows the Obama Administration's pledge to freeze spending at most agencies for the next 3 years
[08:39] {Threei} UR) Ukraine Central Bank cuts discount rate by 75 bps to 9.50% from 10.25%
[08:39] {Threei} now, that's funny
[08:40] {Les} haha Pelosi promises just after Fitch threatens the UK with a rating downgrade
[08:40] {Threei} by this rate you'd think we are talking about massively rich country
[08:40] {Les} why is it so high?
[08:40] {Threei} beats me
[08:44] {Threei} USD/HUF WSJ "Heard on the Street" suggests the option of devaluing the Forint, which separates Hungary situation from Greece, is not painless
[08:44] {Threei} race to the bottom
[08:46] {Threei} Euro vs US Dollar Portugal Econ Min Da Silva: Difficult to determine if Euro has fallen far enough; Currency stability is important
[08:46] {Threei} - Confident Portugal's austerity measures will achieve desired results
[08:46] {Threei} - Economic recovery in Europe is fragile, but sees positive signs for EU exports
[08:46] {Threei} - EUR/USD parity is not likely
[08:47] {Threei} as if his determination matters
[08:47] {Threei} what, if he decides it has fallen far enough, he waves his magic hand?
[08:47] {Threei} StreetTracks Gold Trust According to GFMS, gold prices may rise to $2,000/oz if debt crisis spreads from Europe to US; Likely to trade in $1,050-1,300 range this year
[08:48] {Threei} now, this kind of things must be criminal:
[08:48] {Threei} BP Pres Obama: Company may have cut some corners on safety of exploded rig; Every person affected by spill must be compensated (36.76, -0.40, -1.08%) (related USO )
[08:48] {Threei} is investigation over?
[08:48] {Threei} they did cut corners or not?
[08:49] {nemo} yes
[08:49] {Threei} if they did, why do we hear about it from president before results are out,
[08:49] {Threei} and if they did not, I say sue him
[08:50] {Threei} this one is funny:
[08:50] {Threei} USD/CNY Reportedly US Senate to hold talks on China's yuan policy with Treasury Sec Geithner on Thursday
[08:51] {Threei} Ukraine and Argentina signed peace agreement between Belarus and Mongolia
[08:52] {RonS} gm all...what?
[08:52] {Threei} lol
[08:52] {Threei} joke about that line on China's yuan policy
[09:02] {Threei} KERX Reports Final Results of a Randomized, Double-Blind, Placebo-Controlled Phase 2 Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colorectal Cancer (4.22, 0.00, 0.00%)
[09:10] {dino} gm all
[09:10] {Threei} dino :)
[09:14] {Threei} ABAT Enters US Electric Vehicles Market
[09:15] {Threei} - Received an order to sell electric vehicles valued at approximately $1.1 million to US-based All-Power America. The first batch of electric motorcycles was shipped to All-Power America on June 6, 2010. This is the first entry into the US market for ABAT's electric vehicles since the Company acquired ownership of Wuxi ZQ in May 2009.
[09:15] {Threei} - The Company signed the sales contract with All-Power America in May and plans to deliver approximately 2,000 scooters by the end of June. All-Power America specializes in manufacturing power tools and power equipment, with operations in Shanghai, China and California, USA. The order from All-Power America demonstrates the Company's continuing efforts to expand its international customer portfolio, in this case to include the North America market.
[09:20] {Threei} Google Inc OnStar, Google Partner to Expand Turn-by-Turn Navigation
[09:20] {Threei} - OnStar and Google have reached an agreement that will let OnStar users search for and identify destinations using Google Maps and send those destinations to the Turn-by-Turn Navigation Service in their vehicles.
[09:20] {Threei} - For the 2011 model year, OnStar Directions and Connections service is standard on all OnStar-equipped, GM retail vehicles
[09:22] {larisa} gm :)
[09:22] {Threei} larisa :)
[09:23] {shorty} morning
[09:23] {larisa} :)
[09:23] {nemo} hi lari :)
[09:23] {Threei} shorty :)
[09:23] {larisa} shorty, nemo :)
[09:24] {shorty} :)
[09:26] {lasertrev} good morning
[09:26] {jfjf64} mornin traders
[09:26] {Threei} trev, jf :)
[09:33] {jfjf64} bp
[09:33] {Threei} watching BP for short
[09:34] {nemo} mmmhhhh....little rally to sell into, or....
[09:34] {Threei} to me, yes
[09:34] {Threei} ugh
[09:34] {Threei} how the heck do you catch this
[09:34] {nemo} sudden bp drop
[09:35] {nemo} rimm shot
[09:37] {Threei} Short Setup: BP .60 break
[09:37] {Threei} half lot
[09:37] {Threei} if stays under .80
[09:39] {Threei} 1:1
[09:39] {jfjf64} yeah baby
[09:40] {shorty} Not a good day to start. I hit buy instead of short. Not feeling good today, I might stop for the day.
[09:40] {nemo} been there, done that, got the T-shirt
[09:40] {shorty} lol
[09:40] {Threei} watching LVS for long on steep drop
[09:41] {Threei} from under .20 most likely
[09:41] {jfjf64} never happend to me
[09:41] {jfjf64} lol
[09:41] {nemo} pox on your house jf
[09:41] {jfjf64} deep breath shorty
[09:41] {Threei} BP 1:2
[09:41] {jfjf64} sig on ya house nemo
[09:41] {shorty} thanks jfjf64, man your name is a bitc* to type.
[09:42] {Threei} gosh shorty... no one ever calls him other than jf
[09:42] {jfjf64} jf will wk
[09:42] {RonS} amzn down 2%, below the 200 day
[09:42] {Threei} what are you, out to hurt yourself?
[09:42] {shorty} lol
[09:42] {Threei} man is too lazy to type wovels in any word he types
[09:43] {nemo} ?
[09:43] {Threei} work = wk in his vocabilary
[09:43] {nemo} "wovels"
[09:43] {nemo} ?
[09:43] {nemo} =novels?
[09:43] {Threei} vowel
[09:43] {Threei} jeez
[09:44] {jfjf64} fcx
[09:44] {Threei} Short Setup: LVS .30 break half lot
[09:44] {Threei} stop above .40
[09:45] {Threei} just a scalp most likely
[09:46] {shorty} in
[09:46] {Threei} look to cover under .20 and start seeking reversal
[09:46] {Threei} 1:1
[09:46] {Threei} out .15
[09:46] {shorty} wow, 1 sec to early!
[09:47] {Threei} that's OK
[09:47] {Threei} bounce is so fast, you can easily get caught
[09:47] {shorty} true
[09:48] {Threei} ok, want fast dive to under .10 and entry around 23 - 23.05
[09:48] {shorty} Will watch
[09:50] {nemo} Qs testing support
[09:50] {jfjf64} get ready lvs
[09:51] {Threei} BP too
[09:51] {Threei} .10 break
[09:51] {Threei} long
[09:51] {shorty} BP break?
[09:51] {Threei} invalidated
[09:52] {nemo} cvs short break .05?
[09:52] {Threei} LVS, getting ready
[09:52] {nemo} opened 31
[09:52] {Threei} .95 long
[09:52] {Threei} half lot
[09:52] {Threei} stop under .85
[09:53] {Threei} 1:1
[09:53] {Threei} (US) Preview: June IBP/TIPP Economic Optimism due out at 10:00ET
[09:53] {Threei} **consensus expectation: 49e v 48.7 prior
[09:55] {shorty} out LVS .01, I should have taken the 1:! earlier.
[09:56] {shorty} or waited
[09:56] {Threei} when in doubt, partial out
[09:56] {shorty} got it.
[09:56] {Threei} CVS... probably nemo
[09:59] {Threei} or .10 long
[09:59] {Threei} market is getting ready to recover some it seems
[09:59] {Threei} Long Setup: LVS .90 break
[10:00] {Threei} if holding .85
[10:00] {Threei} *(US) JUNE IBD/TIPP ECONOMIC OPTIMISM: 46.2 V 49E
[10:01] {Threei} no go
[10:02] {dino} start watching 5s and 0s for strikes imo, exp 6/18
[10:02] {Threei} market does bounce
[10:03] {shorty} out LVS .01
[10:03] {Threei} CVS 1:1
[10:03] {dino} whr sm l .49
[10:03] {nemo} I was short, so stopped
[10:03] {Threei} it never triggered on shorts aside, and did trigger long
[10:03] {nemo} yeah, it triggered
[10:04] {Threei} ??
[10:04] {nemo} I got it for .04
[10:04] {nemo} after seeing .04 print
[10:04] {Threei} I was thinking 31
[10:05] {Threei} but in any casd, wny not reverse at .10?
[10:05] {dino} ctrp sm l .50
[10:05] {nemo} [09:51] {nemo} cvs short break .05?
[10:05] {nemo} took my loss
[10:05] {Threei} yeah, I see now, I took 31 from your next line
[10:06] {Threei} and 31 is so much more natural level for significant support
[10:06] {shorty} well....LVS took off
[10:07] {jfjf64} market makers new where my stop was
[10:07] {jfjf64} lol
[10:08] {shorty} I fell too sick, I will see you guys tomorrow.
[10:08] {Threei} Short Setup: X .70 break
[10:08] {Threei} half lot
[10:08] {nemo} already gone
[10:08] {larisa} get better shorty
[10:09] {jfjf64} ty nemo
[10:09] {Threei} take care shorty
[10:09] {nemo} for what jf
[10:09] {jfjf64} 4 mention ing x gone
[10:10] {jfjf64} sig 4 ya
[10:10] {nemo} o.k. we're getting into the volatility where stops just getting whacked
[10:10] {dino} ctsh sm l .15
[10:10] {shorty} Thanks larisa...take care Threei. :)
[10:10] {jfjf64} 3i needs to come up with game plan
[10:11] {dino} cya shorty
[10:11] {jfjf64} deep breath shorty
[10:12] {Threei} Long Setup: LVS .90 break
[10:12] {Threei} stop under .80
[10:12] {Threei} and this one if works is not a scalp
[10:12] {nemo} in
[10:14] {Threei} this is a play for a solid double bottom, with first partial around 23.05
[10:14] {dino} whr stopped -.35
[10:15] {Threei} come on market, little help
[10:15] {Threei} LVS is totally ready
[10:15] {Threei} just need market at least not to get in the way
[10:16] {nemo} out market not holding
[10:17] {jfjf64} comon baby
[10:17] {Threei} DO US Coast Guard looking into report of additonal leak in Gulf; no knowledge as of yet of any leak (56.87, -2.34, -3.95%) (related BP CAM SPN CLH HAL )
[10:18] {jfjf64} comon market
[10:18] {Threei} see how willing LVS is?
[10:18] {jfjf64} we good
[10:18] {Threei} well
[10:18] {Threei} still needs help
[10:18] {jfjf64} holdin
[10:19] {Threei} oh come on
[10:20] {jfjf64} buyyyyyyyyyyyyyyyyyyyyyyy
[10:20] {nemo} market dropping, I'd raise your stop
[10:20] {jfjf64} never
[10:20] {jfjf64} lol
[10:20] {nemo} it's fighting, but it get's near .80 good luck
[10:21] {jfjf64} nemo dont be a hater
[10:21] {jfjf64} lol
[10:21] {nemo} I'm not
[10:21] {jfjf64} i know that
[10:22] {jfjf64} grrrrrrrrrrr
[10:22] {Threei} oh well
[10:23] {nemo} see
[10:23] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrr
[10:23] {Threei} oh come on nemo
[10:23] {Threei} that was perfect relastive strength play
[10:23] {jfjf64} ty nemo
[10:23] {nemo} it fought so hard, and built that level at .84, dropped through 80
[10:23] {jfjf64} that was goodd stuff
[10:23] {dino} whr sm l .51
[10:23] {Threei} full room of prophets
[10:23] {nemo} I agree Vad, but watching the tape after
[10:23] {nemo} no
[10:23] {Threei} if you don't take this kind of p[lays, what do you take
[10:24] {nemo} no prophet
[10:24] {nemo} I did take it
[10:24] {nemo} I just decided earlier on my pessimistic view of the tape action...broken clock moment
[10:24] {larisa} solid downtrend from the top this morning at 9:36. did not break it.. almost did :)
[10:24] {Threei} and if you want to avoid whipsaw losses, stop trading
[10:24] {Les} awiav?
[10:25] {nemo} no les
[10:25] {Les} ah it's one of those days is it?
[10:25] {Threei} not really, in the black
[10:25] {Les} I was in the red. Barolo, from italy
[10:25] {larisa} RIG able to bounce or dead dead dead :) ?
[10:25] {jfjf64} give nemo a dress vad
[10:25] {nemo} jf, just reading the tape
[10:26] {jfjf64} lol
[10:26] {Threei} IMO, dead larisa
[10:26] {jfjf64} dress in one hand sig in other
[10:26] {dino} jumping all over
[10:26] {nemo} dcc jf
[10:26] {magoo} [10:25] {larisa} RIG able to bounce or dead dead dead :) ?
[10:26] {magoo} [10:25] {
[10:26] {magoo} funny, i always say that
[10:27] {jfjf64} dcc
[10:27] {nemo} you on mibbet?
[10:27] {jfjf64} y
[10:27] {nemo} oh, have no idea
[10:27] {jfjf64} y
[10:27] {nemo} cvs short .90?
[10:27] {jfjf64} no idea
[10:28] {nemo} on lvs, when the market went green, and it didn't move, I had that tightening sphincter feeling
[10:28] {nemo} well not short cvs
[10:28] {jfjf64} all good
[10:29] {jfjf64} +22cents day
[10:30] {jfjf64} 3i will figure this choppy out
[10:30] {jfjf64} look lvs
[10:30] {Les} apc .50 break?
[10:31] {Threei} I wouldn't
[10:31] {Threei} a bit too volatile
[10:31] {Les} ok
[10:31] {jfjf64} im gonna go water plants
[10:31] {Les} any read DO vad?
[10:31] {Threei} market reverses, smackdown will be like you never seen before
[10:31] {Les} 56 b/d?
[10:32] {Threei} most likely
[10:32] {Threei} there is a "news expectation" on it
[10:32] {Les} what is it
[10:32] {Threei} so depending on which way it goes...
[10:32] {Les} expectation. sorry
[10:32] {Threei} 10:17] {Alert} Threei DO US Coast Guard looking into report of additonal leak in Gulf; no knowledge as of yet of any leak (56.87, -2.34, -3.95%) (related BP CAM SPN CLH HAL )
[10:34] {Les} s DO .99
[10:35] {Les} cover half .85
[10:36] {Threei} (US) US Senate Democrats release bill to renew unemployment benefits, adjust medicare doctor payments
[10:36] {nemo} what was your stop
[10:36] {Les} .35
[10:36] {Les} stop asking me embarrassing questions like that ya mug
[10:37] {nemo} when you said half out .85 I was confuse
[10:37] {nemo} d
[10:37] {magoo} wow RIG hammered again
[10:38] {magoo} 1 day theres gonna be ferocious short covering rally in this sector
[10:39] {magoo} but from what level is the ?
[10:39] {Threei} we are not there yet, I believe
[10:39] {Les} 2nd half out flat gotta grab my boy at the train station
[10:39] {Threei} look at SPY daily
[10:39] {Threei} feels like breakdown of 105 first,
[10:39] {nemo} on the edge
[10:40] {Threei} to shake stops out hard
[10:40] {Threei} I'd assume there is a whole lot of them under that level
[10:42] {Threei} - Bill to place a tax on fund managers profits at 33%; extends state medicaid funding for 6 months; will tax investments held for 7 years or more at 31%; provides oil producer tax at $0.41/bbl ($0.34 in the House version)
[10:42] {magoo} yea, and as mkt keeps losing these support levels, stops keep getting triggerred
[10:43] {Threei} will tax investments held for 7 years or more at 31%
[10:43] {Threei} ??
[10:43] {Threei} what are they saying, do not buy and hold?
[10:43] {dino} pretty much
[10:43] {nemo} they want the higher tax rate
[10:44] {Threei} BP's bottomless
[10:44] {magoo} its like the 3 bears tale, do not high frequency trade, do not hold 7 years, just buy and hold "just right" amount of time
[10:44] {patience} good one magoo
[10:46] {dino} 1040 big area s/p
[10:47] {Threei} RIG...
[10:47] {Threei} maybe bounce time finally
[10:48] {Threei} yeah
[10:48] {Threei} exact entries are still next to impossble to catch
[10:49] {Threei} general read is right, precise trading is a serious challenge
[10:51] {Les} bp l .42 sm
[10:52] {Threei} Long Setup: WFC .85 break
[10:55] {dino} ima sm l .50
[10:56] {Les} stupid bug in level 2 again. sold BP for + .49 cause buy order stuck at .91. should be +.10
[10:57] {Threei} 1:1 WFC
[10:59] {Les} +.10 wfc ty
[11:00] {Threei} watching FCX
[11:06] {Threei} no clean entry
[11:06] {Threei} if pulls back to about .20 - .25, will be inetersted
[11:07] {Threei} prepare half lot
[11:07] {dino} upgraded this am to 80 target
[11:07] {Threei} .15 support for stop placement
[11:08] {Threei} market strength for entry
[11:08] {Threei} invalidated
[11:08] {Threei} not off the radar
[11:10] {Threei} EUR/CHF *MOVES SHARLPY HIGHER (related EUR/USD )
[11:10] {Les} sweeeeeeeeeet
[11:10] {Threei} .10 break was in mind for alert, and happened faster than I could think it, let alone type
[11:11] {nemo} bounced right on the trend line
[11:11] {Les} yeh 50 ma was just below 10
[11:11] {Les} .10
[11:11] {nemo} that too
[11:11] {Les} bite m
[11:11] {Les} e
[11:11] {Threei} Note: The EUR/CHF has long been rumored as a possible intervention pair for the SNB
[11:13] {Threei} US) White House Budget head: Measures to increase jobs must come before any measures are taken to handle the deficit
[11:13] {Threei} read: spend spend spend
[11:15] {Les} sadly, Europe no longer agrees
[11:16] {dino} they need to get out of businesses way if they want jobs
[11:17] {Threei} I think bounce starts guys
[11:18] {magoo} aapl bouncing, correct time od day
[11:18] {dino} dcth sm l .50
[11:18] {jfjf64} miss anythin
[11:18] {Threei} one last little pullback, then march up
[11:18] {Threei} IMO
[11:18] {Threei} LVS on watch
[11:19] {Threei} for pullback entry or .50 break
[11:19] {Threei} if holding .40, then .50 break entry
[11:19] {Les} fcx grrrr
[11:20] {jfjf64} in
[11:20] {Threei} well, it gave second chance entry
[11:20] {Les} half out .60
[11:20] {Threei} but seriously, I couldn't call it
[11:20] {Threei} LVS over 1:1
[11:20] {Threei} half out
[11:21] {Threei} 1:2
[11:21] {Les} all out .69 nice one
[11:21] {jfjf64} thats amore
[11:24] {Threei} 1:3
[11:24] {Threei} 1/4 more
[11:24] {Threei} almost touched 1:4 but I was a bit slow
[11:24] {Threei} 1:4
[11:24] {Threei} out in full +.40
[11:24] {Threei} whew
[11:25] {Threei} finally nailed real one
[11:25] {Les} :(
[11:25] {jfjf64} nice
[11:25] {Threei} [11:17] {Threei} I think bounce starts guys
[11:25] {Les} someone has to put in crying smiley for me
[11:25] {Threei} was it perfect sense of change or what
[11:26] {jfjf64} nice chart
[11:26] {Threei} effortless trade
[11:26] {Threei} just as I like them
[11:27] {jfjf64} stop patten self on back next
[11:28] {Threei} sigh
[11:28] {jfjf64} lol
[11:29] {jfjf64} .80 lot support here yest
[11:29] {jfjf64} today
[11:29] {jfjf64} yes no
[11:33] {Les} l rig .01 sm
[11:33] {larisa} if somebody likes to create custom sounds for trading/chart/room alerts : http://www2.research.att.com/~ttsweb/tts/demo.php. Like ; "Get out, Idiot!" when your stop hit, that i use :)
[11:34] {Les} out rig +.24
[11:34] {Les} lol larisa I would like to put a sound to my alerts. sounds good.
[11:34] {larisa} I use it on my charts all over. very helpful
[11:36] {Les} i have no idea though how to link alerts with laser.... Vad?
[11:36] {Les} your camera shutter. how did you do it?
[11:37] {Threei} rifght slick on level 2
[11:37] {Threei} tab Sound Alerts
[11:38] {Threei} highlight Trade Order Complete
[11:38] {Threei} click Browse
[11:38] {Les} yep
[11:38] {Threei} navogate to that click file
[11:38] {Threei} done
[11:38] {Les} it has opened my document
[11:38] {Les} documents
[11:38] {Les} where are sound files in windows?
[11:38] {Threei} find where you put that sound file
[11:39] {Threei} it's not default sound
[11:39] {Threei} you need to have it
[11:39] {Threei} if you don't nemo can e-mail it to you
[11:39] {Les} please
[11:39] {Les} or can I download this AT&T file to use that?
[11:39] {Les} larisa?
[11:39] {larisa} of course, why would I give the link ? :)
[11:40] {Threei} whatever you want to use for that purpose
[11:40] {Les} ok. thanking you both
[11:40] {larisa} with laser charts i am not sure if you can use alerts, never tried that
[11:41] {Threei} this is order execution alert
[11:41] {dino} dcth out .05, +.55
[11:42] {Threei} nice page larisa
[11:42] {larisa} now you can record in woman voice all you want to hear :)
[11:42] {Threei} ummm
[11:43] {dino} lol
[11:43] {Les} riiiiiiight. call me a dummy but I just worked it out
[11:44] {Threei} I'll make Crystal call you a dummy, Les
[11:44] {Les} ouch!
[11:44] {Les} I was expecting that from nemo, not you
[11:44] {Threei} he is obviously away
[11:45] {Threei} I have to maintain the tone
[11:45] {nemo} ?
[11:45] {Threei} oh, he is back
[11:45] {Threei} I'd expect him to react on "11:39] {Threei} if you don't nemo can e-mail it to you"
[11:46] {nemo} I waited
[11:46] {nemo} faz forming IH&S...but at lunchtime
[11:47] {Les}
[11:48] {Les} hold it. is trade order complete for entering or exiting position?
[11:48] {Les} cause "you kicked ass" on entering position sounds pretty lame
[11:49] {larisa} lol
[11:50] {Threei} order execution
[11:52] {Les} ok. this is more appropriate then:
[11:52] {Les}
[11:52] {Threei} EUR/USD Moves above 1.2000 (related EUR/CHF EUR/JPY )
[11:53] {Threei} UK) UK Fin Min Osborne: Will assume the spending model adopted by Canada from the 1990s
[11:53] {Threei} Canada is not a model for the world
[11:53] {Threei} not = now
[11:53] {Les} what did canada do? spike the nation's water?
[11:53] {Threei} implemented brutal spending cuts
[11:54] {Threei} killed a lot of social programs, entitlements etc,
[11:54] {Threei} implemented some new taxes
[11:54] {Threei} sales taxes
[11:54] {Threei} and in a course of a decade turned things around
[11:54] {Les} and % unemployed fell?
[11:55] {Les} after the economy turned?
[11:55] {Threei} from huge deficit caused by generous socialistic spending to quite robust and healthy economy with steady surpluses
[11:55] {Les} cool
[11:55] {Threei} surpluses ended with this crisis of course
[11:55] {Threei} but still
[11:55] {Les} sure. same in Oz
[11:56] {Threei} no bank bailouts were necessary
[11:56] {dino} reaganomics is the way
[11:56] {nemo} sans the deficits
[11:56] {dino} supply side
[11:59] {Threei} reversal time - IF today is anything like yesterday
[11:59] {nemo} spy might try for the 200 at 106.55
[12:04] {dino} out ctsh .55, +.40
[12:09] {nemo} rimm bounce .10 area?
[12:11] {Les} s lvs .15 half
[12:14] {nemo} is vad here?
[12:14] {nemo} hah, bounced at .10
[12:15] {nemo} where is Vad?
[12:15] {jfjf64} think he hit the bottle
[12:15] {Les} made his $ and left us for dead
[12:15] {nemo} good idea, thanks jf...oh, if RIMM loses trend, could be a nice short to about .85
[12:16] {jfjf64} did ya hv .10 bounce nemo
[12:17] {Les} rig looks ready to fall. no position
[12:17] {nemo} rimm dropped like a stone
[12:17] {jfjf64} yup
[12:18] {Les} wow
[12:18] {Les} smell the fear
[12:18] {jfjf64} did ya hv short nemo
[12:18] {nemo} too fast on me
[12:18] {jfjf64} ya readin well
[12:18] {nemo} have my moments
[12:18] {jfjf64} was waitin for setup didnt give it
[12:19] {nemo} break of .10 was it, but just dropped
[12:24] {nemo} X
[12:25] {nemo} ehhh...pivot at 41.00
[12:25] {nemo} probably not good
[12:25] {Les} cover LVS .00 +.15
[12:25] {nemo} so...is 3i alive?
[12:25] {Threei} why?
[12:25] {nemo} what why?
[12:26] {Threei} why do you ask?
[12:26] {nemo} because I did ask and no reply
[12:27] {Threei} X
[12:27] {Threei} must be short around here
[12:27] {nemo} too funny
[12:27] {nemo} [12:24] {nemo} X
[12:28] {Threei} I saw that
[12:28] {Threei} and looked at it
[12:28] {nemo} I figured
[12:28] {nemo} or, is that a quasi-bull-flag
[12:28] {Threei} I think so
[12:29] {Les} .15 aggressive entry
[12:29] {Threei} bear flag reather
[12:29] {jfjf64} quasi bulll flag ahhhhhhhhhhhh
[12:29] {Les} ah no. would have been stopped out
[12:34] {dino} last try sm l ima .00
[12:35] {dino} that suckers is crazy
[12:35] {nemo} yep
[12:36] {Threei} Short Setup: X .30 break
[12:36] {Threei} if stays below .40
[12:41] {dino} out ima .45, +.45
[12:41] {Threei} wtg
[12:41] {dino} ty
[12:41] {dino} .50 wall
[12:41] {dino} lets see a db
[12:42] {Threei} no go
[12:45] {Threei} shakeout
[12:46] {nemo} bastids
[12:47] {Threei} crap
[12:47] {Threei} lol
[12:49] {RonS} x shorted .36 covered .19 thxs
[12:49] {Threei} good thinking
[12:49] {dino} ima sm l .00
[12:51] {Threei} Federal building in Atlanta evacuated; possible grenade found - CNN
[12:53] {Threei} once again X?
[12:53] {Threei} .35 break short
[12:58] {Les} watching GDX and a GG short .10
[13:00] {Threei} shrug
[13:01] {Threei} no shorting
[13:01] {Threei} I give up
[13:01] {Threei} this market goes up from here and till 2016
[13:01] {nemo} can't
[13:01] {Threei} sure can
[13:01] {nemo} nope
[13:01] {Threei} earth will disappear in 2012
[13:01] {nemo} right
[13:01] {Threei} yet market will still go up
[13:01] {nemo} ?
[13:01] {nemo} What?
[13:02] {nemo} on the St. Peter's Gate Exchange?
[13:02] {RonS} ...the computers will keep on trading...
[13:02] {Threei} right
[13:02] {nemo} ahhh
[13:02] {Threei} they are water-resistant
[13:02] {Threei} fireproof
[13:02] {nemo} that was my next question
[13:03] {Threei} indirect bidders take 46.7% of competitive bids; direct bidders take 16.3% of competitive bids, dealers take 37%.
[13:03] {Threei} - 58.71% allotted at high.
[13:03] {Threei} - Median 1.189%; Low 1.098%.
[13:03] {RonS} ...and run on nuclear power
[13:03] {nemo} that's a good indirect bidder take
[13:03] {Threei} so, X .50 break long?
[13:03] {Threei} I hate it
[13:03] {Threei} no entries of this kind worked over last week or so
[13:03] {RonS} nue is a better long...
[13:04] {Les} crapped missed GG entry
[13:04] {Les} crap too
[13:05] {Threei} X short works now
[13:05] {Threei} lol
[13:05] {Threei} it's like you have to execute each trade on second time it sets up
[13:05] {nemo} siting right on trend line
[13:06] {Threei} look sat this 1:3
[13:06] {nemo} yeah
[13:06] {Threei} I mean 1:4
[13:07] {Threei} I mean 1:5
[13:08] {Les} the sentiment for a short is there
[13:08] {Threei} yeah
[13:08] {Les} the market playing hard ball to make it work though
[13:08] {Threei} the only problem is...
[13:08] {nemo} ?
[13:09] {Les} bounce zone x here?
[13:09] {nemo} yeah
[13:09] {Threei} one more dive, holding the low, then bounce, IMO
[13:09] {Threei} here it is
[13:09] {Threei} .10 break now
[13:10] {nemo} or short below
[13:10] {nemo} 200 at .85
[13:10] {Threei} invalidated
[13:11] {larisa} X is hard stock to trade. i was backtesting system on several hundred stocks. X gives you more stops than almost any other when it is not in strong trend.
[13:11] {nemo} drop below .90 then recross
[13:11] {nemo} NOW she tells us
[13:11] {Threei} lol
06[13:11] * nemo slaps larisa around a bit with a large Ostrich plume
[13:11] {larisa} when it is trending, it is GOOD :)
[13:12] {nemo} I swear, she just likes to watch us suffer
[13:12] {Les} wow backtesting...
[13:12] {Les} some sophisticated stuff
[13:13] {Threei} can't believe that last X short got shaken out by 2 cents
[13:13] {nemo} sure you can
[13:14] {nemo} spy probably test .60
[13:15] {nemo} fcx short .00 break
[13:15] {nemo} stay under .10?
[13:17] {Threei} second time
[13:17] {Threei} let the first one to go through the shakeout
[13:17] {nemo} right, we'll wait
[13:17] {Les} or at the top
[13:17] {nemo} ROTFL
[13:17] {nemo} ROTFL
[13:19] {nemo} Reminds me of Mel Brooks "Wait for the shake"
[13:19] {nemo} what movie Les?
[13:19] {Les} hmmm
[13:19] {nemo} the quote
[13:19] {Les} not that star wars parody?
[13:19] {nemo} no
[13:19] {nemo} that was funny too
[13:19] {Les} dunno mel brooks very well
[13:19] {nemo} History of the World-Part 1
[13:21] {RonS} ...read about some acot who emigrated from yugoslavia. Went to Blockbuster to find part 2
[13:21] {nemo} acot?
[13:21] {RonS} actor
[13:22] {nemo} oh...wasn't a Part 2
[13:22] {RonS} ...the point. he felt like a fool...especially after talking to the idiots at BB
[13:23] {nemo} yep, fcx gonna' do one of those sudden drops
[13:24] {nemo} mofo!
[13:24] {Les} s GG .99
[13:24] {Threei} if X hits full dollar from entry, I will eat my keyboard and cut my wrists with rotten banana
[13:24] {RonS} rotfl
[13:24] {Les} you promise to record that for us?
[13:24] {Threei} only sound part
[13:25] {Les} cover GG .90 +.09
[13:25] {RonS} bingo nemo
[13:25] {nemo} yeah....I was tempted at .10, I think the algo's are having fun today
[13:25] {Les} damn this day is complete opposite of yesterday
[13:26] {Les} still working on avoiding crappy days like yesterday
[13:26] {Les} actually not true. 1st hour was fine
[13:26] {RonS} aapl and gs are some sick pups
[13:27] {Les} GS looking like a rocket launch if market rallies
[13:28] {RonS} fcx could be getting the 3i setup
[13:33] {dino} markets dieing
[13:35] {dino} ima stopped -.34
[13:36] {Threei} here is a dollar on X
[13:36] {Threei} where is the banana
[13:39] {Threei} look at this:
[13:39] {Threei} [11:59] {Threei} reversal time - IF today is anything like yesterday
[13:39] {nemo} yep
[13:39] {Threei} look at the market top time for today
[13:39] {Threei} frggin' 11:59, believe it or not
[13:40] {larisa} you would be a Hero, if not for IF part :)
[13:40] {Threei} no kidding
[13:40] {larisa} with IF you are just good, not best :)
[13:41] {Threei} oh, just say what you really think: "you are uselss!"
[13:41] {larisa} call the bottom without IF :)
[13:49] {Threei} X, watching for long
[13:49] {Threei} .50 break
[13:49] {Threei} if holding .40 for scalpers, .35 for day traders
[13:55] {Threei} come on market, bounce time
[13:55] {Threei} break 105 and squeeze
[13:57] {RonS} rig is holding
[13:58] {Threei} good boy
[13:58] {Threei} squeeze them now
[13:59] {Threei} 1:1
[14:00] {Threei} larisa, am I a hero now?
[14:01] {Les} nice one. took my scalp at .72
[14:01] {larisa} :)
[14:02] {dino} ima sm l .50
[14:02] {Threei} what's with chesire cat smile
[14:10] {Threei} watching for second entry near .50
[14:10] {nemo} X?
[14:10] {Threei} yes
[14:11] {RonS} aapl lod
[14:11] {Threei} that's my fault ron
[14:12] {Threei} I decisively refused to buy iPad, iPod and iPhone
[14:15] {Threei} can't tell X is short on .50 break or long on .60
[14:15] {Threei} really a toss-up
[14:18] {Threei} long was it
[14:19] {Threei} not really regretting, it was a total 50/50
[14:19] {dino} dcth sm l .50
[14:24] {Threei} larisa
[14:25] {Threei} don't give me that smile
[14:25] {Threei} you found a lot of words to let me know I was no hero
[14:25] {Threei} how about now?/ :)
[14:25] {larisa} why? you called bottom?
[14:26] {Threei} sigh
[14:26] {Threei} whatever
[14:26] {Threei} oh, and btw, X dropped 99 cents from entry
[14:26] {Threei} bottomed at .35
[14:26] {Threei} so not eating keyboard, not cutting my wrists with banana
[14:35] {larisa} http://cdn.trendhunter.com/phpthumbnails/46349_1_468.jpeg
[14:36] {Les} wow miners dropping like a ton of bricks
[14:36] {Les} s gg .68
[14:37] {Les} cover .50
[14:37] {Les} the ultimate killing keyboard
[14:38] {larisa} in case X drops :)
[14:40] {Les} does it come in white chocolate?
[14:41] {larisa} http://gadgets.boingboing.net/gimages/choco-thumb-520x320.jpg
[14:41] {larisa} but white chocolate is not good for you
[14:42] {Les} ?
[14:42] {Les} but its yum
[14:42] {larisa} but it is not real chocolate :)
[14:42] {Les} like white wine. none of the health benefits of red but just as good
[14:42] {Les} nyah nyah nyah its still good
[14:43] {larisa} lol
[14:47] {Threei} kind of 51:49,
[14:47] {Threei} X 41 break for a scalkp
[14:52] {Threei} needless to say
[14:52] {Les} took you up on the short side of that. .89
[14:52] {Threei} why not
[14:52] {Threei} that's how most of them worked today
[14:53] {Les} lets see if we run down to the bottom in a screaming heap for close
[14:54] {larisa} no, will be seriously up :)
[14:55] {Les} at least when rally begins it is easily recognised
[14:55] {Les} maybe
[14:55] {larisa} IF it is not like yesterday :)
[14:56] {Threei} ummm
[14:57] {Threei} ok... not slapping girls
[14:57] {larisa} ty
06[14:57] * nemo slaps larisa around a bit with a large trout
[14:57] {Threei} even though some deserve it big time {G}
[14:57] {larisa} sigh
[14:59] {Les} cover x +.30
[15:09] {dino} gj
[15:09] {Les} ty sir. have you anything for a rally into close?
[15:11] {Threei} why do you think it's a rally?
[15:11] {Les} be prepared vad, be prepared
[15:14] {Threei} well
[15:14] {Threei} to use a popular phrase,
[15:14] {Threei} IF today is anything like yesterday
[15:15] {Threei} it's rather selloff into close
[15:15] {dino} dk les, not sure we will rally
06[15:15] * Threei squints at larisa
[15:15] {RonS} aapl lod
[15:15] {Les} then how about wfc .20 b/d?
[15:16] {nemo} lvs strong
[15:17] {Les} s wfc .19
[15:22] {dino} hmmmm
[15:24] {Les} stopped .31. bear trap, how nice
[15:24] {Les} c u's tomorrow. gonna go for a walk while there is still light
[15:25] {dino} cya les
[15:27] {Threei} take care Les
[15:27] {nemo} lvs going for highs
[15:30] {Threei} everything does
[15:39] {dino} ima .00 wall
[15:40] {dino} out .95, +.45
[15:41] {dino} dcth should be spelled death
[15:41] {dino} thing won't move\
[15:44] {nemo} so much for ima at 28
[15:44] {dino} figures
[15:45] {dino} dcth to .65
[15:48] {dino} so tomoorow either flat or down 200-300 pattern
[15:49] {dino} wow spelled that wrong
[15:52] {Threei} myu bet would be big down, dino
[15:53] {Threei} look at daily
[15:53] {Threei} bounce from these levels is soooo obvious
[15:53] {Threei} gotta greak down through the support, kill everyone in sight,
[15:53] {Threei} and THEN bounce
[15:54] {Threei} we are dancing right above the level reached during flash crash
[15:55] {larisa} what?
[15:55] {dino} yes, i see, its either successful retest or continuation down. gaps filled thats the only thing going, except gaps above
[15:59] {Threei} thank you all, have a good evening
[15:59] {Threei} see you tomorrow
[15:59] {larisa} bye all :)
[15:59] {dino} out dcth .70, +.20
[16:01] {dino} gn all