Wednesday, August 18, 2010

Aug 18 2010

Useless day with a few too many stops and invalidations. There was however nice play worth an educational chart. Double top with aggressive entry.

Session Time: Wed Aug 18 00:00:00 2010
[08:47] {magoo} morning
[08:48] {Threei}  Good morning
[08:59] {Threei}  reading JAZZ news, I am not sure I understand why it's up a point with change inxtead of being down 5
[08:59] {magoo} ifi remember, that one can be a momo
[09:01] {Threei}  yes
[09:01] {Threei}  but heckj
[09:01] {Threei}  read for yourself:
[09:01] {Threei}  Jazz Pharmaceuticals FDA Staff: Jazz has provided sufficient evidence to support the efficacy of sodium oxybate for the treatment of fibromyalgia
[09:01] {Threei}  - The Division determined that the efficacy analyses of the data do not support the Applicants proposed labeling claims of improved sleep.
[09:01] {Threei}  - The general safety profile in fibromyalgia is consistent with the currently approved Xyrem in narcolepsy.
[09:01] {Threei}  - The distribution restrictions of sodium oxybate containing products for its various approved indications has to take into consideration patient access and the possible increases in rates of abuse, misuse (including drug facilitated sexual assault) and diversion.
[09:01] {Threei}  - Approval of sodium oxybate for treatment of fibromyalgia may also result in increased reporting rates of adverse reactions due to interactions of sodium oxybate with other central nervous system depressants used in the fibromyalgia patient population.
[09:01] {Threei}  - In addition, sodium oxybate is a drug of abuse and misuse. The illicit, nonpharmaceutical form is a Schedule I controlled substance. Pharmaceutical products (Xyrem) containing sodium oxybate are currently in Schedule III. Any product containing sodium oxybate and approved for fibromyalgia will be similarly scheduled.
[09:18] {hawk} any news NFLX Vad?
[09:19] {Threei}  Time Warner Inc HBO plans to stream shows on the iPad and other mobile devices with an application ready in 6 months
[09:19] {Threei}  - Note: The company is still holding out from allowing NetFlix to offer its shows streaming.
[09:19] {Threei}  NFLX Morgan Keegan Cuts NFLX to Underperform from Outperform
[09:19] {larisa} gm :)
[09:19] {Threei}  larisa :)
[09:19] {hawk} ah, ok thx...and gm
[09:19] {Threei}  :)
[09:22] {dino} gm all
[09:23] {Threei}  dino :)
[09:29] {dino} agq
[09:30] {dino} gap 58.45ish
[09:31] {Threei} Long Setup:  LVS  .15 break
[09:31] {Threei}  if stays above .05 for scalpers, 30 for day traders
[09:34] {nemo} quite the line in the sand at .05
[09:34] {Threei}  let's trail stop to under it for day traders too
[09:35] {Threei}  no go
[09:37] {Threei} Short Setup: RIMM  .85
[09:37] {Threei}  if stays under 51
[09:37] {Threei}  half lot
[09:38] {Threei}  LVS rinse
[09:41] {Threei}  RIMM no worky
[09:43] {komalg} should I go for LVS it hits .15?
[09:44] {komalg} I missed last enry
[09:44] {Threei}  no, that's a different situation now and requires new setup
[09:44] {komalg} ok
[09:46] {nemo} rimm forming support at .10
[09:49] {ese} morning
[09:49] {Threei}  ese :)
[09:49] {nemo} dude
[09:49] {ese} dude
[09:49] {ese} 30k bike ride took a little longer than anticipated
[09:49] {nemo} the motor die?
[09:50] {ese} exercise
[09:50] {ese} was almost out at vad's house.....thought about popping in and trading from there
[09:51] {komalg} Vad,LVS is holding .15 level
[09:52] {nemo} what's the high komalg
[09:52] {komalg} 30.35
[09:52] {Threei}  it's holding .10
[09:52] {Threei}  lost .15 a few times
[09:52] {nemo} looking a bit short actually
[09:53] {komalg} what is corelation between hign and level .15?.nemo
[09:53] {Threei} Long Setup:  FCX  .20 break half lot
[09:53] {Threei}  late.. grrr
[09:54] {Threei}  see if pulls back to about .20
[09:54] {ese} L cagc .61
[09:56] {Threei}  market looks like making one more pullback, then reversing to the upside
[09:56] {Threei}  if we are lucky, we can catch FCX around .20,
[09:56] {ese} out cagc .90
[09:56] {Threei}  RIMM uinder .30
[09:57] {Threei}  .40 break FCX is possible, just not my favorite... and much more risky
[09:57] {ese} +.29   cool...farmed it out at .90 and it took it
[09:57] {ese} thought it was gonna give me mid to low .80's
[09:57] {Threei}  nice one ese
[09:57] {ese} tks
[09:57] {Threei}  no luck FCX
[09:58] {dino} cpl
[09:58] {Threei}  if anyone went for .40, take profit here
[09:58] {ese} eh eh nemo!!!!!!! wha da ya say ehhhh.......30k bike ride keeps the mind sharp........huh?
[09:59] {rdw09} Ty Vad FCX + .18
[09:59] {Threei}  :)
[10:06] {Threei} Short Setup: FCX  .50 break
[10:06] {Threei}  half lot
[10:06] {Threei}  if stays under .645
[10:06] {Threei}  .65
[10:07] {Threei}  .55 break semi-aggressive entry is possible
[10:07] {Threei}  invalidated
[10:10] {Threei} Short Setup: RIMM  .40 break
[10:10] {Threei}  if stays under .50
[10:10] {Threei}  invalidated
[10:11] {nemo} .50 if stays under .60?
[10:11] {Threei}  no
[10:13] {magoo} there goes lvs
[10:15] {dino} ctrn sm l .01
[10:16] {dino} stop lod
[10:16] {dino} syut sm l .05
[10:16] {strider} .
[10:17] {Threei}  Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:19] {jfjf64} mornin
[10:20] {Threei}  jf :)
[10:20] {strider} morning here, too.
[10:21] {Threei}  what a coincidence
[10:26] {Threei} Short Setup: RIMM  .40 break
[10:26] {Threei}  if stays under .50
[10:29] {magoo} in
[10:29] {strider} in .38
[10:30] {Threei}  *DOE CRUDE: -820K V -1.0ME; GASOLINE: V -375KE; DISTILLATE: V +1.4ME UTILIZATION: % V 87.2%E
[10:30] {strider} out
[10:30] {Threei}  shrug
[10:30] {Threei}  invalidations and rinses
[10:31] {Threei}  GASOLINE: -40K V -375KE; DISTILLATE: +1.07M V +1.4ME UTILIZATION: 90.0% V 87.2%E
[10:31] {Threei}  GOOG Plans to lauch tablet computer to compete with iPad, model to run Chrome OS - Gizmodo
[10:31] {Threei}  - The Chrome OS tablet will be manufactured by HTC, launched on Verizon, and go on sale on November 26th.
[10:31] {Threei}  - Report also cites features that include a NVDA Tegra 2 graphics, a 1280x720 multitouch display, 2GB RAM, 32GB SSD, WiFi/Bluetooth/3G connectivity, and webcam
[10:31] {magoo} out
[10:31] {Threei}  IMMU Immunomedics and GE Healthcare in Research Collaboration
[10:32] {Threei}  Immunomedics Inc Immunomedics and GE Healthcare in Research Collaboration
[10:32] {Threei}  entered into a license and collaboration agreement for the evaluation of labeling technologies based on Immunomedics' patented F-18 peptide labeling method. Terms of the agreement were not disclosed, but GE Healthcare will fund all costs related to this collaboration.
[10:33] {magoo} LVS
[10:33] {magoo} LVS
[10:39] {komalg} why are looking for short on RIMM?
[10:39] {komalg} *we
[10:40] {Threei}  we are not anymore
[10:40] {Threei}  there was short setup at the moment
[10:40] {komalg} I understand/
[10:44] {hawk} nice spot on LVS mags, thx
[10:47] {magoo} ty, was just distracted here
[10:47] {magoo} hit l .79 out .93 on it
[10:47] {Threei}  oh boy... guess who's on TV
[10:48] {strider} I know this time.
[10:48] {strider} Lou Salome.
[10:48] {magoo} david copperfield?
[10:55] {ese} l X .83
[10:57] {ese} out 1/2 X .00 +.17
[10:57] {nemo} ese, could you explain your rationale for that play?
[10:57] {ese} stop to break even balance
[10:57] {larisa} break of previous high he went for
[10:58] {larisa} kinda risky it was bounsing sinse .40
[10:58] {larisa} but worked :)
[10:58] {nemo} yeah, and the high was .95 prior to that...god love him
[10:58] {nemo} frickin' musicians
[10:58] {larisa} lol
[10:59] {ese} hey nemo ...lookin for a break of .80....but it also fits one of the patterns in vads book
[10:59] {dino} whr sm l .49
[10:59] {nemo} I see a range break but the stop looked so big
[10:59] {ese} except that the range was a little large 40pts
[11:00] {nemo} you have a horshoe somewhere in your anatomy?
[11:00] {nemo} horseshoe
[11:00] {ese} I wasn't going to use that kind of stop below .40
[11:00] {ese} for me 1/2 of that range was good
[11:00] {larisa}  stop would be around .75, short time trend line
[11:01] {nemo} oh...yeah...duh
[11:01] {larisa} X is strong today, so valid trade
[11:01] {ese} out remainder X .23
[11:01] {ese} +.42
[11:01] {nemo} kewl
[11:02] {Threei}  wtg
[11:02] {dino} gj
[11:02] {magoo} out .33 X ty ese :)
[11:02] {ese} 2k/2k....a good days work
[11:05] {ese} the other thing that i try to focus in on nemo is the time and sales.......after watching vads scalp trading video and a few questions to him i've started to become alot more aware of momentum
[11:05] {nemo} what did you see?
[11:05] {dino} chk hl l ,90
[11:06] {ese} with X this was was medium then it started to pick up some steam the 3rd time........gut feeling came into play a little here
[11:07] {ese} does not happen all the time but this time you could feel it
[11:08] {Threei}  musicians and their feelings...
[11:09] {Threei}  if I sound sour, there is a good reason for that: got one here who needs to practice Rakhmaninov for the next couple hours... I need soundproof room for that piano
[11:09] {Threei}  hate open concept houses, lol
[11:09] {ese} "Feelings.............nothing more than feelings!!!!!"
[11:10] {dino} out whr .00, +.51
[11:10] {Threei}  nice one dino
[11:10] {dino} ty
[11:10] {ese} actually i hate that tune..........been done badly too many times
[11:11] {Threei}  RIMM suddent drop
[11:18] {ese} have any of you seen this web site (   this is where i saw X
[11:19] {ese} you have to clic on it to udate it but it a pretty effective heat map
[11:23] {magoo} takeover rumor i beliebve X
[11:23] {magoo} making my day, reloaded
[11:23] {ese} ya.........lots of strength here
[11:23] {magoo} waiting .43
[11:23] {nemo} just blew through r3
[11:23] {ese} i'll say
[11:25] {ese} ok ....nows theres something i don't do you get the nerve to get back in...once i'm out i'm out
[11:25] {ese} how do you judge that strength
[11:26] {strider} dino, what you looking for out of chk?
[11:27] {dino} hod
[11:27] {strider} thx
[11:27] {gregns} i appreciate this disccusion , it helps me to learn, thanks
[11:27] {nemo} there are no such things as stupid questions....
[11:28] {nemo} ...unless you're Les   ;)
[11:28] {strider} m: ArcelorMittal not likely pursuing US Steel, says Dahlman Rose
[11:30] {magoo} sorry still in
[11:31] {dino} sm s x .25
[11:31] {dino} bstop is .52
[11:37] {strider} dino, from here would you still hold stop at .52?
[11:38] {dino} b/e
[11:38] {strider} tx
[11:38] {dino} np, its a free trade now
[11:39] {dino} should have broke .00 w/whoosh
[11:40] {strider} whoosh
[11:40] {dino} to .85
[11:40] {dino} nope, battleground
[11:41] {jfjf64} computer prob all week
[11:41] {dino} gremlins
[11:41] {magoo} careful itds gonna launch imo
[11:42] {jfjf64} was workin off lap top  one  monitor  o  windows xp  just fine
[11:43] {dino} tighten to .15
[11:43] {strider} just what I was thinking.
[11:43] {jfjf64} upgrade system  + 4 monitors   windows 7
[11:43] {strider} nice db formed.
[11:43] {jfjf64} real mess
[11:44] {nemo} that's Microsuck for you
[11:44] {ese} L hd .85
[11:44] {jfjf64} didnt someone say if not broke dont fix
[11:44] {magoo} what u using? as in wind 7?
[11:45] {dino} hope that doesn't get ,e jf, moving my office this weekend
[11:45] {dino} e=me
[11:45] {nemo} no e=mc2
[11:45] {dino} tighten to .00
[11:45] {jfjf64} my trading system not compatible with  7
[11:46] {jfjf64} swarb  chuckie
[11:46] {magoo} what u using?
[11:46] {magoo} xp here
[11:46] {dino} cyber?
[11:46] {jfjf64} switchin bk to xp
[11:46] {magoo} vista was the crap
[11:46] {strider} out .93
[11:47] {dino} gj
[11:47] {jfjf64} yes  there system cyber plat
[11:47] {dino} same
[11:47] {dino} running xp
[11:48] {jfjf64} that what y use dino
[11:48] {dino} cov. +.25
[11:48] {Threei}  Microsft said they'll support XP till 2014, so I intend to use it to about 2017
[11:48] {dino} yes
[11:49] {jfjf64} yup   7  pure  sh   t     4  trading
[11:49] {jfjf64} imo
[11:50] {dino} sticking w/xp until something dies
[11:50] {strider} me too.
[11:51] {komalg} Vad,what brokerage are you using?
[11:52] {strider} dino where your stop on chk now?
[11:54] {dino} .79
[11:54] {Threei}  one that is reperesented by the form on our website
[11:54] {ese} out hd .85 even......commissions of course
[11:54] {jfjf64} our   ltk  tha
[11:55] {jfjf64} lol
[11:55] {komalg} I see.I sent them email abt 2 days ago...didn't get email from them
[11:55] {Threei}  normally they respond next day
[11:56] {komalg} also one more question,how much is min amount for day trading?
[11:56] {Threei}  5K
[11:56] {jfjf64} not 25k
[11:56] {komalg} so I can take any number of trade?
[11:57] {Threei}  yes
[11:57] {komalg} so good.
[11:57] {komalg} other brokerage won't allow till I have 25 K
[11:57] {komalg} what is comission and fees?
[11:58] {Threei}  commissions are on that webpage with form
[11:58] {nemo} .005 per share +data feeds, +ecn fees, which can also be rebates
[11:59] {Threei}  fees may depend on the country and trader status so that's for you to clear out with their rep
[11:59] {komalg} Thank you.I am going to follow up.
[11:59] {magoo} lots of news X
[11:59] {magoo} im long .20 again
[12:00] {Threei}  there is no fresh news on it
[12:00] {magoo} i cover quick, so careful
[12:00] {magoo} ill get out to get in lower
[12:01] {magoo} 11:03 and 11:17 vad
[12:01] {Threei}  none here
[12:01] {Threei}  you sure it's really fresh?
[12:02] {dino} chk to b/e
[12:03] {magoo} out
[12:06] {magoo} l rimm fitty
[12:06] {magoo} looking for new high
[12:06] {magoo} crap
[12:06] {magoo} every timre i post drops
[12:06] {magoo} ,55 started typing
[12:07] {magoo} stop .39
[12:16] {nemo} short setup X vad?
[12:16] {nemo} break of .80
[12:17] {nemo} stop above  .89...too late
[12:17] {strider} in .79
[12:18] {strider} partially in
[12:19] {strider} out 1/2
[12:20] {dino} gj
[12:23] {strider} out x in full.
[12:24] {strider} thanks nemo
[12:24] {Threei}  gj
[12:24] {strider} only got 200 shares,
[12:24] {Threei}  ok... not a gj
[12:24] {strider} full lot usu. 400
[12:25] {strider} that's better.
[12:25] {Threei}  glad to oblige :)
[12:30] {dino} ioc
[12:30] {strider} m: ArcelorMittal not likely pursuing US Steel, says Dahlman Rose
[12:31] {strider} wrong.  ignore.
[12:31] {strider} om: T2 Partners predicts InterOil on track to run out of cash, Business Insider says
[12:31] {strider} there
[12:31] {dino} hmmm
[12:31] {strider} is that a bad thing, you think?
[12:32] {dino} soros added to his stake q2
[12:33] {strider} Whitney Tilson of T2 Partners, which owned 1,623 put contracts on InterOil (IOC) as of June 30, believes the company has no proven or probable reserves in its Sierra Madre holdings, according to Business Insider. Moreover, the company is going to run out of cash soon, T2 Partners believes
[12:33] {strider} August 16, 2010
[12:33] {strider} 16:02 EDT IOC
[12:33] {strider} InterOil reports Q2 EPS 17c vs. consensus of 10c
[12:35] {dino} quite the battle on it
[12:38] {strider} don't much like the spread.
[12:41] {Threei} Short Setup: RIG  .80 break
[12:41] {Threei}  half lot
[12:41] {Threei}  .95 stop'
[12:45] {magoo} just a feeling, but believe X will attack its day high sometime
[12:45] {magoo} today
[12:45] {Threei}  IMGN Announces Orphan Drug Designation Granted to Lorvotuzumab Mertansine for Treatment of Small-Cell Lung Cancer (9.30, +0.26, 2.88%)
[12:46] {Threei}  Gold making a fresh six week high ahead of the pit close in NY
[12:46] {Threei}  - hearing desks noting todays strong reversal has been accompanied by solid Asian and Middle Eastern buying ahead of Friday's options expiration.
[12:48] {Threei}  stop can be trailed to above .90
[12:51] {strider} short .84
[12:51] {dino} sm l ioc .97
[12:53] {Threei}  not a scalp if works
[12:57] {strider} out 1/2 +.10
[12:57] {strider} .74
[13:01] {strider} dino, get ese to buy a bunch of CHK...that'll run it up.
[13:01] {Threei}  1:1, covering half
[13:03] {strider} out in full .61 +.23
[13:03] {strider} thanks vad.   a good one.
[13:04] {Threei}  welcome
[13:05] {magoo} ty, nice
[13:05] {Threei}  if this one didn't work, I would try to find wet paper bag and try to trade my way out of it
[13:05] {Threei}  I suspect I wouldn't be able to do that
[13:06] {strider} haha
[13:06] {i2r} lol
[13:06] {Threei}  1/4 more out
[13:06] {Threei}  last piece is out here.42
[13:06] {dino} took all day but out ctrn .50, +.49
[13:07] {Threei}  +.38
[13:07] {i2r} gj vad
[13:07] {Threei}  ty
[13:07] {Threei}  finally hooked decent one
[13:07] {dino} gj
[13:07] {i2r} really good call
[13:07] {gregns} ty
[13:07] {strider} {--------quietly folds paper bag and puts back in drawer.
[13:07] {Threei}  lol
[13:08] {magoo} long rimm .50, loike my 4th try
[13:09] {dino} out ioc .75, +.78
[13:10] {Threei}  komal, I spoke to dave, he said he has your e-mail and will cotact you today
[13:11] {magoo} komalg wants u
[13:11] {magoo} daves coming
[13:12] {strider} dave's not here.
[13:15] {i2r} dino, +.78??? nice job!
[13:15] {dino} ty
[13:16] {magoo} mkts up
[13:16] {magoo} nice dino
06[13:17] * magoo slaps laserdave around a bit with a large trout
[13:17] {laserdave} shoudl of new that was coming
[13:17] {komalg} ok
[13:18] {komalg} thank you.
[13:18] {laserdave} pm komalg
06[13:19] * Threei slaps laserdave around a bit with a large list of people asking for his attention
[13:19] {laserdave} :)
[13:20] {komalg} pm dave
[13:21] {i2r} thx vad, indeed
[13:21] {strider} vad, do you ever trade bull flags?
[13:21] {strider} e.g., HD
[13:24] {Threei}  sure
[13:24] {Threei}  every time when I say:
[13:24] {Threei}  long on pullback
[13:24] {Threei}  what is it if anot a bull flag?
[13:25] {strider} would trigger be at break of top trend line?
[13:25] {Threei}  I am not sure I understand what you mean in this case
[13:25] {Threei}  can you give prices?
[13:26] {Threei}  people draw those lines in zillion ways
[13:26] {strider} HD treneded down till candle.
[13:26] {strider} Would break at 1:24 be trigger?
[13:27] {Threei}  1:22?
[13:27] {Threei}  you lost me
[13:27] {strider} ok
[13:27] {Threei}  at 1:22 it was barely under the high
[13:28] {strider} typical bull flag has top trend line and bottom trend line.
[13:28] {Threei}  how is it treded down?
[13:28] {strider} do you see trigger as break of top trend line?
[13:28] {Threei}  you mean this little retreat from the top?
[13:28] {strider} forget HD:)
[13:28] {strider} just asking generally.
[13:28] {Threei}  OK
[13:28] {Threei}  draw
[13:28] {strider} bang
[13:28] {strider} I win.
[13:28] {Threei}  this is too theoretical and subjected to different visions
[13:30] {Threei}  what you mean by those "trend lines" is not necessary what anyone else means until you show drawing
[13:31] {strider} in typical bull flag....a series of lower highs and lower lows.    question was, does an upside break of the lower highs trendline constitute a trigger for you?
[13:31] {Threei}  no
[13:31] {Threei}  you take a little piece of a bigger picture
[13:32] {Threei}  flag does not exit in vacuum
[13:32] {Threei}  flag is created in context of uptrend,
[13:32] {Threei}  making hugh,
[13:32] {strider} yes
[13:32] {Threei}  pulling back from it,
[13:32] {strider} hefner?
[13:32] {strider} yes
[13:32] {i2r} lol
[13:32] {Threei}  and this is whole complex that needs to be taken into account:
[13:32] {strider} k
[13:33] {Threei}  how uptrend is structured,
[13:33] {Threei}  where last support is,
[13:33] {Threei}  how pullback looks,
[13:33] {Threei}  and what the signs of pullback being over are.
[13:33] {Threei}  So,
[13:33] {Threei}  if your pullback crosses upper trendline after touching on the latest support
[13:34] {Threei}  or does it somewhwere in the middle
[13:34] {Threei}  those are two different situatikons
[13:34] {Threei}  how volume shapes up during the pullback is another factor
[13:34] {strider} y
[13:36] {strider} HPQ climbing slowly today
[13:41] {strider} LVS
[13:48] {dino} .
[13:53] {gregns} c & h forming on MOS ? 1200 to now?
[13:53] {Threei}  pretty much
[13:53] {Threei}  volume is not really classic shape
[13:54] {Threei}  but price configuration is right
[13:54] {gregns} thks
[13:54] {ese} .
[13:58] {Threei} Long Setup:  BP  .50 break
06[13:59] * Threei slaps laserdave around a bit with a large subject of unknown and probably extraterresterial origin, looking strangely appropriate for slapping dave
[13:59] {dino} hmmmm
[14:01] {i2r} hmm
[14:02] {magoo} hm
[14:03] {i2r} vad, when you say break, do you actually set the price to like .55 and hit buy the moment it's at .51 or how do you figure it's a .50 break without losing the entry?
[14:03] {Threei}  principle is right, I just don't fo as far as 5 cents out for the thick stock like BP
[14:03] {ese} aye lads and lassies........itsa harda to contribute to the board ehhhhh   when ya just canna fine nuttin
[14:03] {Threei}  couple cents is enough
[14:04] {nemo} your command, or lack thereof, of English makes it difficult
[14:04] {komalg} so what is stop in this case?
[14:04] {Threei}  under .40
[14:05] {dino} slowwww es
[14:05] {Threei}  that's nothing nemo, you shald hear him speaking after third shot of vodka
[14:05] {nemo} then I switch to German
[14:05] {i2r} k tx
[14:06] {nemo} yeah...but you also forgot to tell them I consider a shot to be a tea glass
[14:06] {Threei}  are there any others?
[14:06] {i2r} Vad, is the break trigger considered the pricing going to .51, .52 or just anything above .50?
[14:07] {Threei}  anything above .50, but there is one necessary condition:
[14:07] {nemo} there are americans/canadians on this board who wouldn't know that
[14:07] {Threei}  price level should actually disappear on level2, especially in case of big offers
[14:07] {Threei}  otherwise you can be lured in by out of bounds print
[14:08] {i2r} can you explain?
[14:08] {Threei}  caused by someone with brokerage of 18 century
[14:08] {Threei}  who gets screwed up on execution
[14:08] {nemo} Dino...where we end today
[14:08] {i2r} probably in laser it disappears? in TD I am not sure how to see that
[14:08] {Threei}  just watch level 2, make sure that price level that serves as break treshold gets actually taken out
[14:09] {Threei}  does TD even have level 2?
[14:09] {i2r} now I"m even questioning whether I know what level 2 is, i thought level 2 is when I see the quotes and a bunch of them
[14:09] {i2r} below the current bid and above the current ask
[14:09] {Threei}  right
[14:09] {i2r} like a dome
[14:09] {Threei}  they are colored
[14:09] {i2r} right
[14:10] {Threei}  so when we look for .50 break,
[14:10] {Threei}  you have a bunch of them in yellow at .50,
[14:10] {Threei}  some in purple at .51
[14:10] {Threei}  some in red at .52
[14:10] {Threei}  etc
[14:10] {Threei}  that yellow should dissipate in full
[14:10] {i2r} got it
[14:11] {Threei}  so .51 becomes yellow (color for inside quote)
[14:11] {i2r} where can I find the meaning of colours?
[14:11] {Threei}  there is none, you can assign those you like
[14:11] {nemo} creee, should bounce around here
[14:11] {i2r} then what are the meanings besides different quotes?
[14:11] {i2r} like inside quotes?
[14:11] {i2r} what is inside quotes?
[14:11] {Threei}  just to make different price levels visible
[14:12] {Threei}  without reaading actrual numbers
[14:12] {Threei}  as you would have to if not for colors
[14:12] {Threei}  let me make a quick screen shot
[14:13] {komalg} Vad,can you pls teach how  to be pateince with drawdown? like....I entered @.50 break but when price reach to .42, I was not able to take pressure
[14:13] {strider} good call nemo.  missed it
[14:14] {dino} nemo, flat to slightly up
[14:14] {Threei}  i2r
[14:14] {Threei}
[14:15] {i2r} see it, thx.
[14:15] {i2r} so price point separates 1 cent change?
[14:15] {Threei}  is it what you see with TD?
[14:15] {Threei}  well, for this stock it's 1 cent
[14:15] {i2r} a bit less info, but the middle part yes
[14:16] {Threei}  but look for instance at GOOG
[14:16] {i2r} true, sometimes I see diff colour for price 2 or 3 cent diff
[14:16] {i2r} yes, larger range for GOOG
[14:16] {Threei}  C&H on MOS wortks nicely
[14:17] {Threei}  good spot greg
[14:17] {Threei}  komal... thbis is trading psychology area
[14:17] {komalg} yes. understand.
[14:17] {Threei}  reread corresponding chapter of MPP,
[14:17] {Threei}  look through blog,
[14:17] {Threei}  part devoted to psychology
[14:17] {komalg} O.K.
[14:18] {Threei}  this kind of things must become a focus of attention,
[14:18] {Threei}  something to work with
[14:18] {Threei}  and ultimately, this is going to be what makes or breaks a trader
[14:18] {i2r} anyway for me to get a layout file from someone that has proven to be practical?
[14:18] {gregns} thks
[14:18] {komalg} I am aware of dirrent kind of technicque,but while I am in trade,I am kind of lost
[14:18] {Threei}  laser layout you mean?
[14:19] {i2r} yes
[14:19] {Threei}  mine is for 4 monitors setup, so laser spans over 3 monitors
[14:19] {Threei}  if you need something more modest, ask dave,
[14:19] {Threei}  he has a few of those
[14:19] {nemo} i2r, decide what you would want, we'll tell you the windows
[14:19] {i2r} one app spans 3 monitors?
[14:19] {Threei}  yes
[14:20] {Threei}  take a look at my monitors:
[14:20] {i2r} well, would be good to get the basic idea, nemo, of what you guys see
[14:20] {i2r} cause my thoughts will be history based, TD, and might be limiting
[14:20] {Threei}
[14:20] {Threei}
[14:20] {Threei}
[14:20] {dino} ctrn l .06
[14:20] {Threei}
[14:21] {i2r} i usually look for the daily and by the minute, order entry, market view, index view, L2 and chart for 2 tickers
[14:21] {i2r} thx vad
[14:21] {i2r} ok, I recognize scr1 as intelliscan
[14:22] {nemo} dcc i2r
[14:25] {i2r} oh i see how it's done
[14:26] {magoo} any read X vad, feels UP
[14:26] {Threei}  feels up to me too
[14:27] {gregns} bp is not a scalp if it goes, correct?
[14:27] {Threei}  hard to tell really
[14:27] {Threei}  no opinion
[14:28] {gregns} ok
[14:34] {strider} you see entry for X, vad?
[14:35] {nemo} maybe better short unless breaks .50 on volume, it's above R3 so how much farther it can run id debatable
[14:35] {Threei}  pullback to about .20 I would get very interested
[14:35] {Threei}  break, don't know
[14:36] {magoo} l .49
[14:36] {magoo} thinking .70 area
[14:36] {strider} well, there's R4:)
[14:36] {magoo} might dupe me
[14:36] {nemo} r4 would be 51.18
[14:37] {strider} I was thinking maybe R3.276
[14:37] {nemo} 3.1416
[14:38] {strider} boy, I got two hot ones....bp and chk
[14:39] {Threei}  LVS S&P raises ratingone notch to B from B- (30.15, +0.39, 1.31%)
[14:39] {dino} lol, chk here too
[14:40] {dino} huvl
[14:41] {strider} that daily looks bad, dino.
[14:41] {dino} :D
[14:41] {dino} thinny
[14:41] {strider} with blood dripping from the corner of his mouth/
[14:42] {strider} think we ought to take a dime, chk?
[14:43] {dino} thinking yes, can't get thru .05
[14:46] {komalg} what's yr opinion for BP?
[14:46] {strider} I think it blows
[14:46] {dino} roflol
[14:46] {magoo} harte BP, always wears me out
[14:46] {nemo} komalg might not understand the idiom
[14:47] {magoo} cut it...then vad says "1:1, 2:1 AHHHHHHHHHHHH
[14:47] {dino} lol
[14:47] {magoo} after i lose a nicklee
[14:50] {Threei}  that's because you try to approach every trade as some creative act
[14:50] {nemo} bidu break of .55 might work
[14:51] {magoo} no, i dont use hard stops so i gotta stare at it
[14:51] {magoo} but hey, gave u credit as a winner
[14:51] {strider} you're charts are slow, nemo.
[14:51] {magoo} i just cant watch it that long
[14:51] {nemo} wtf?
[14:51] {nemo} nah...lost support
[14:52] {strider} I thought you meant short.
[14:52] {strider} anybody could see that.  :)
[14:52] {nemo} oh, sorry
[14:53] {strider} {-------looking for paperbag again
[14:53] {nemo} bidu might form the right side again
[14:53] {strider} {---faxing to vad
[14:53] {nemo} offer .55
[14:57] {dino} out chk .00, +.10
[14:57] {nemo} cough
[14:58] {strider} short .39 bp
[15:02] {strider} it's quiet.....too quiet.
[15:09] {strider} stop chk +.01
[15:10] {strider} piece of crap
[15:14] {dino} the dime looks good now, lol
[15:14] {strider} cover 1/2 bp+.09
[15:14] {strider} no kidding dino
[15:15] {strider} I got a penny
[15:23] {dino} sm l ioc .87
[15:24] {dino} scok
[15:27] {dino} esi
[15:32] {dino} scok, seems china mine ban
[15:42] {strider} MOS  Mosaic downgraded to Hold from Buy at Standpoint Research
[15:42] {nemo} bidu could be short here
[15:42] {nemo} break of 83
[15:42] {nemo} too fast
[15:43] {dino} stop ioc .70 -.17
[15:46] {Threei}  GM *FORMALLY FILES IPO
[15:46] {strider} big whoop
[15:47] {strider} I hope nobody buys any
[15:47] {Threei}  hey, you are dismissing what may be a start of car manufacturing industry in USA
[15:47] {Threei}  oh, wait...
[15:47] {strider} uh huh
[15:48] {Threei}  lol
[15:48] {Threei}  anyway:
[15:48] {Threei}  no shares of common stock to be sold; offering series B preferreds
[15:48] {Threei}  shrug
[15:48] {strider} see, they're afraid nobody will come to their party
[15:48] {Threei}  Registers common stokc for selling shareholders, including the US Treasury
[15:48] {Threei}  what's with all the trickery
[15:49] {Threei}  I am disgusted
[15:49] {Threei}  oh wait...
[15:49] {Threei}  I've been already
[15:49] {dino} syutout =.06
[15:49] {dino} -.06
[15:49] {strider} 1/4 bp at  +.05
[15:50] {strider} this is getting teejus
[15:50] {ese} hmmmmmm......did nothing for ya eh dino
[15:50] {dino} yes
[15:50] {Threei}  - Common stock outstanding immediately after following at 500M shares; The number of shares to be offered and the price range have not been determined
[15:50] {Threei}  - We have no current plans to pay dividends on our common stock.
[15:50] {strider} really?
[15:51] {dino} lol
[15:51] {ese} well.....i'll see you all tomorrow......
[15:51] {strider} see ya eses
[15:51] {strider} ese
[15:51] {Threei}  take care ese
[15:51] {ese} later eh
[15:52] {strider} somebody sit on bp
[15:52] {dino} out ctrn -.06
[15:53] {dino} gotta hop, tee time. l8r all
[15:53] {strider}  didn't kjnow you drank tee
[15:54] {nemo} dude needs help
[15:58] {strider} out final bp +.09
[15:59] {strider} all that non-work for nothing
[15:59] {Threei}  okay guys
[15:59] {Threei}  useless day
[15:59] {Threei}  they seem to take turns
[16:00] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow
[16:00] {hawk} nite all
[16:00] {strider} thanks vad.
[16:00] {Threei}  which should be good if pattern holds
[16:00] {strider} this could work out OK.  Just trade every other day.
[16:01] {strider} More drinking time, eh?
[16:01] {Threei}  and don't confuse them
[16:01] {strider} oh, yeah.  there's that.