Thursday, September 9, 2010

Sep 09 2010

Careful picks allowed us to trade at 100% today despite low volume range-locked day. A trade below shows the example of trend-following: short on breakdown even though by "conventional thinking" a stock was down a lot already.

Session Time: Thu Sep 09 00:00:00 2010
[08:30] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 451K V 470KE; CONTINUING CLAIMS: 4.478M V 4.450ME
[08:30] {Threei}  *(US) JULY TRADE BALANCE: -$42.8B V -$47.0BE
[08:31] {nemo} well that broke the resistance
[08:54] {ese} good morning campers
[08:55] {nemo} dude
[08:55] {ese} dude
[08:55] {Threei}  ese
[08:55] {Threei}  dudes
[08:55] {ese} mornin vad
[08:55] {nemo} not to be confused with "The Dude"
[08:55] {nemo} or "His Dudeness"
[08:56] {Threei}  never... The Dude is unconfusable
[08:56] {Threei}  confuseless?
[08:56] {ese} was stopped out of fitb at .59 yesterday +.08 on 4k and then got back in at .54 around 3:45 for the overnight hold and.......voula
[08:57] {ese} voila
[08:57] {Threei}  nice
[08:57] {ese} ya it's lookin good right now
[08:57] {Les} where is it now ese?
[08:57] {Threei}  11.80
[08:58] {ese} .80
[08:58] {Les} seet
[08:58] {Threei}  traded some above 12
[08:58] {Les} sweet
[08:58] {ese} if it stays there will sell 1/2 at the open and stop the rest at break even......
[08:59] {dino} gm all
[08:59] {dino} snda, mcd misses
[08:59] {Threei}  dino :)
[09:00] {ese} good senario for me today be cause i have to do a Global TV interview with my R&B band kids at 8:20 vad.....tune in
[09:00] {ese} I think it's live
[09:01] {Threei}  8:20 am?
[09:01] {ese} yes
[09:01] {Threei}  which channel is it?
[09:02] {ese} Global TV.......don't have cable so i don't know the channel #
[09:02] {Threei}  ok, will find it
[09:03] {nemo} mmmmmhhhhh  is MCD a short or a long here?
[09:04] {Threei}  yes
[09:04] {nemo} thanks
[09:04] {Threei}  anytime
[09:05] {Threei}  EUR/USD Euro buy-stops orders building above 1.2750 area - dealers
[09:05] {dino} gut says short es
[09:06] {nemo} at the moment looks like the market wants to run
[09:06] {ese} fitb?
[09:07] {Threei}  MCD is not likely to trade with market for a while
[09:09] {dino} talking mcd nemo
[09:09] {nemo} yep
[09:09] {dino} ok, what do you say to a 70 strike
[09:09] {nemo} where you getting that?
[09:10] {nemo} Hey Les...where's that max pain website?
[09:11] {nemo} looks like spy 112.50-113 today
[09:11] {dino} my mind
[09:12] {nemo} scary
[09:12] {dino} indeed
[09:15] {strider} morning
[09:15] {nemo} yes
[09:15] {Les}
[09:15] {Threei}  strider :)
[09:15] {strider} :)
[09:15] {dino} gaps above 9/3, 10447, 1104
[09:15] {dino} lots of gaps below
[09:16] {nemo} 72.50 is max pain for MCD
[09:22] {dino} ty nemo
[09:28] {i2r} morning all
[09:28] {Threei}  i2r :)
[09:28] {i2r} so quiet in here :)
[09:28] {Threei}  shhhh
[09:29] {Threei}  people are sleeping
[09:29] {i2r} i see
[09:29] {jfjf64} mornin
[09:30] {Threei}  jg :)
[09:30] {jfjf64} jg
[09:30] {Threei}  (EU) EU's Barroso: Conditions are ripe for EU to issue eurobonds (related EUR/USD EUR/GBP BUNDS )
[09:30] {jfjf64} drinkin
[09:30] {RonS} gm hearing Bloomberg is reporting that none states did not file unemployment claims this week due to labor Day, incl CA...
[09:30] {RonS} nin
[09:31] {Threei} Short Setup: RIMM  .95 break
[09:31] {RonS} nine
[09:31] {Threei}  half lot
[09:31] {Threei}  Ron :)
[09:31] {Threei}  modify that to 45 break
[09:31] {Threei}  if stays under .10
[09:32] {Threei}  invalidated
[09:32] {ese} out 1/2 fitb .92 +.38
[09:32] {Threei}  wtg
[09:33] {ese} tks
[09:34] {ese} remaining pos to break even
[09:34] {Threei} Short Setup: MCD  .15 break
[09:34] {Threei}  stop above .25
[09:35] {Threei}  1:1
[09:35] {Threei}  cover half
[09:35] {Threei}  scalpers know what to do
[09:36] {jfjf64} armh
[09:36] {dino} sm s mcd .04, stop hod
[09:36] {jfjf64} .03 break
[09:37] {Threei}  balance stop to above .20
[09:37] {Threei}  want to see 74 break and torrential rain of selling for the balance
[09:39] {dino} me too
[09:39] {jfjf64} me 3
[09:39] {jfjf64} 1/1 armh
[09:40] {jfjf64} sellin half
[09:40] {Threei} Short Setup: RIMM  .10 break
[09:40] {Threei}  half lot
[09:41] {ese} wcrx dino......
[09:41] {ese} what happened there
[09:42] {Threei}  let's recalibrate to .15 RIMM, if stays under .25
[09:42] {Threei}  invalidated
[09:42] {Les} pimp that downgrade
[09:42] {ese} -7.70
[09:43] {dino} 8.50 spec div
[09:43] {jfjf64} out  even 2 lot  armh
[09:43] {Threei}  come on MCD
[09:43] {Threei}  die
[09:43] {jfjf64} mcd
[09:43] {dino} gj jf
[09:44] {Threei}  1:2
[09:44] {Threei}  cover 1/4 more
[09:44] {jfjf64} die MAC
[09:45] {dino} i could go for a big mac
[09:45] {Threei}  stop to b/e for the last portion
[09:45] {jfjf64} Comon  nother 20 cents  happy meals  on me
[09:45] {Threei}  lol
[09:45] {dino} lol
[09:46] {jfjf64} oh yeah
[09:46] {Threei}  jf makes money while having fun... is it even legal?
[09:46] {Les} u deliver jf?
[09:46] {Threei}  1:3
[09:46] {Threei}  stop to above 74
[09:46] {jfjf64} 4 ya les  ofcourse
[09:46] {jfjf64} nemo
[09:46] {jfjf64} nother story
[09:46] {Threei}  1:4, make your choice, cover or trail
[09:47] {Threei}  personal decision
[09:47] {jfjf64} super size
[09:47] {jfjf64} OUT
[09:47] {jfjf64} ty
[09:47] {Threei}  welcome sir
[09:47] {Threei}  40 cents
[09:47] {jfjf64} that seemed  easy
[09:47] {jfjf64} correct
[09:47] {gregns} cover for me ty
[09:47] {jfjf64} well done
[09:47] {Threei}  :)
[09:48] {_kowboy} thanks out on trail
[09:48] {nemo} happy trails _kowboy
[09:48] {jfjf64} lol
[09:48] {dino} gj
[09:48] {Threei}  one more leg MCF pls
[09:48] {gregns} i missed first entry didnt fill and entered second go round @ .16
[09:48] {ese} thats gotta be insider trading somehow......27 Aug 2010 12:12   [WCRX] Block of 1.25M shares traded at $28.65 and then the news today....September 2, 2010 9:39:03 PM PDT  According to a study, oral bisphosphonates (osteoporosis treatments) double the risk of cancer - London Telegraph - The study showed that patients taking these types of treatments for 5 yeao
[09:49] {ese} or more are twice as likely to develop cancer of the oesophagus than those not taking the drugs.
[09:49] {dino} also 8.50 div.
[09:49] {jfjf64} hmm
[09:49] {ese} wcrx is taking a kicking here
[09:50] {jfjf64} gordon getko move
[09:50] {jfjf64} 3i armh  bounce
[09:50] {Threei}  yes
[09:50] {Threei}  aww
[09:51] {Threei}  wanted .75 break
[09:51] {Threei}  see if puylls back a little
[09:51] {jfjf64} worth with tight stop
[09:51] {Threei}  yes
[09:51] {Threei}  under .70
[09:52] {jfjf64} in
[09:52] {jfjf64} .77
[09:52] {ese} speaking of that.....theres a new gordon geko movie out isn't there
[09:53] {nemo} come and gone and now he has throat cancer
[09:56] {jfjf64} lets go
[09:56] {jfjf64} armh
[09:56] {jfjf64} stop .74
[09:56] {jfjf64} ?
[09:56] {Threei}  nah
[09:56] {jfjf64} k
[09:57] {dino} scok gap fi;;
[09:58] {dino} fill
[09:58] {dino} seh
[09:58] {dino} fuqi
[09:58] {jfjf64} dog with FLEAS
[09:58] {Threei}  ARMH not holding
[10:02] {jfjf64} cree  hammered
[10:02] {Threei}  (again)
[10:03] {jfjf64} y
[10:03] {Threei}  .95
[10:03] {Threei}  two days support
[10:03] {Threei}  lost
[10:03] {Threei}  grrr
[10:03] {jfjf64} grr
[10:03] {Threei}  just when I wanted to call a short on its break
[10:03] {Threei}  let's see if it bounces and forms new setup
[10:03] {Threei}  wow
[10:04] {Threei}  what just hot X over the head?
[10:04] {Threei}  hit
[10:05] {nemo} the huge runup it had ran out of steam
[10:06] {jfjf64} jpm  movin
[10:06] {Threei}  CREE, too volatile
[10:06] {Threei}  don't like it
[10:06] {Threei}  X selling is serious
[10:06] {jfjf64} my thoughts  exaktly
[10:07] {nemo} look for bounce here
[10:07] {jfjf64} not   playin around sittin nice with my  big  MAC
[10:07] {Les} still in jf?
[10:08] {jfjf64} N
[10:08] {jfjf64} rimm s .70 break
[10:08] {jfjf64} watchin
[10:08] {jfjf64} lv that set up
[10:09] {RonS} lvs acting fill dino?
[10:10] {dino} feels like all open gaps to be filled
[10:10] {jfjf64} no go
[10:11] {Threei}  CREE formed short setup and worked but I elected to stay away
[10:11] {Threei}  risk is beyond what can be managed
[10:12] {dino} vxx l .70
[10:12] {Threei}  tough one:
[10:12] {Threei} Long Setup:  X  .50 break
[10:12] {Threei}  half lot
[10:13] {Threei}  if stays above .35
[10:14] {Threei}  no need to say, invalidated, and to say honestly - I am relieved :)
[10:14] {Threei}  felt uneasy about this one
[10:14] {jfjf64} look rimm
[10:14] {jfjf64} what got into it
[10:15] {Threei}  dunno, but after it invalidated two short setups, I stopped looking for those,
[10:15] {Threei}  and wasn't too confident about long on it
[10:15] {Threei}  so just left it alone
[10:16] {jfjf64} structure to TRADINGdont leave home without it
[10:16] {jfjf64} rimm  .210 break
[10:16] {jfjf64} .10
[10:17] {jfjf64} hold 46
[10:17] {strider} CAT bounce?
[10:17] {Threei}  hmmm
[10:17] {Threei}  I doubt it
[10:17] {Threei}  very anemic
[10:18] {Threei}  I'd rather short it
[10:18] {Threei}  .74 break
[10:18] {jfjf64} no go
[10:18] {jfjf64} rimm
[10:18] {jfjf64} cat
[10:18] {Threei}  1:1 in a hurry
[10:19] {jfjf64} missed
[10:20] {jfjf64} banks  got little giddy up today
[10:20] {Threei}  (IA) Iran Policy Committee reportedly claims to have discovered a secret nuclear facility using satellite photos (related GLD XAU/USD USO )
[10:20] {jfjf64} hmm
[10:20] {Threei}  deja vu
[10:21] {dino} shocking
[10:22] {jfjf64} missed  short  rimm
[10:22] {RonS} dino whr l ?
[10:22] {nemo} IH&S setting up on TNA?
[10:23] {jfjf64} .01 break
[10:23] {dino} whr, feels lower imo
[10:23] {i2r} cup formation on X?
[10:23] {nemo} .41 break?
[10:24] {nemo} nnope
[10:24] {Threei}  can't tell
[10:24] {i2r} lol maybe not :)
[10:25] {dino} deck
[10:25] {dino} gap 46.93
[10:26] {nemo} yeah, looks down
[10:27] {ese} ok....see you all in an hour and a bit
[10:28] {Threei}  good luck ese
[10:28] {Threei}  I found the channel
[10:28] {Threei}  will be watching you :)
[10:28] {nemo} wouldn't you rather watch Obama?
[10:29] {Threei}  sure, but I promised ese first
[10:29] {nemo} x broke .40
[10:31] {_kowboy} armh support .50
[10:31] {_kowboy} lets see
[10:32] {jfjf64} sti c/h
[10:32] {jfjf64} ?
[10:32] {_kowboy} gone
[10:32] {Threei}  hard to tell jf
[10:32] {Threei}  ARMH is dog with fleas
[10:33] {i2r} X forming a large handle for the tiny cup? :)
[10:33] {Threei}  couldn't do any single 10 cents bounce on the way down
[10:33] {_kowboy}  ic ty
[10:34] {Threei}  it needs to sell down sharply to get me interested again
[10:34] {Threei}  this slow slide is uninspiring
[10:36] {nemo} retraced the jobs bounce
[10:39] {jfjf64} sti  l .95
[10:41] {i2r} X pullback
[10:41] {dino} cree lod
[10:41] {dino} db?
[10:41] {Les} x db setup?
[10:42] {Threei}  nah
[10:42] {nemo} rimm short?
[10:43] {Threei}  ummm...
[10:43] {Threei}  yes... but too late
[10:43] {jfjf64} .66  break
[10:43] {jfjf64} missed
[10:43] {jfjf64} nice find nemo
[10:43] {jfjf64} little late  but  nice
[10:43] {nemo} ow
[10:46] {jfjf64} fcx
[10:46] {jfjf64} lower
[10:47] {i2r} X, 10:30 low of the day? not convinced? :)
[10:50] {Threei}  no
[10:51] {i2r} nah
[10:51] {i2r} not working
[10:52] {strider} FCX lod
[10:53] {jfjf64} .55 break  4  me
[10:53] {jfjf64} thoughts 3i
[10:55] {nemo} 46.40 is not only pivot support for x, but look at the support resistance line it runs through
[10:56] {jfjf64} fcx  ya tease
[10:56] {jfjf64} gonna  run  guys  good day all
[10:57] {Threei}  take care jf
[10:59] {dino} cya jf
[11:00] {Threei}  *DOE CRUDE: -1.85M V +1ME; GASOLINE: -240K V -1ME; DISTILLATE: -390K V +500KE
[11:00] {nemo} short  x .70
[11:01] {nemo} 1/2 out .59 then stopped .71
[11:06] {RonS} failure...adbe
[11:11] {Threei}  ?
[11:12] {dino} vxx stop -.12
[11:12] {RonS} i missed the news re aapl opening app development to flash
[11:12] {Threei}  oh
[11:13] {dino} scok l .84, stop lod
[11:15] {RonS} wow dino, i show the eps at $97.00 w/ a p/e ration of
[11:18] {RonS} sorry but I have to ask, how do you dcc someone on mibbit?
[11:22] {Threei}  doubleclick on nick doesn't work?
[11:23] {Threei}  62% Say No Matter How Bad Things Are, Congress Can Make Them Worse
[11:28] {RonS} s/b 92%...
[11:32] {Threei} Long Setup:  TNA  .15 break
[11:32] {Threei}  half lot
[11:33] {RonS} rig
[11:33] {Threei}  whoa
[11:33] {dino} scok stop -.11
[11:34] {Threei}  that was unattainable
[11:39] {ese} I'm back......
[11:39] {ese} anything new and exciting
[11:39] {Threei}  hmmm
[11:39] {Threei}  I didn't see your fragment
[11:39] {nemo} no
[11:39] {Threei}  switched at 8:20
[11:39] {ese} ahhhhhhh
[11:40] {ese} it was a good interview i thought
[11:40] {Threei}  they recorded it to show later? or moved to earlier time?
[11:40] {ese} I guess so......don't know
[11:40] {nemo} they decided ese had a face for radio and shelved it
[11:40] {ese} thought it was suppose to be live
[11:40] {nemo} sorry
[11:41] {ese} nice
[11:41] {nemo} actually, you're a handsome guy
[11:41] {nemo} ;)
[11:41] {ese} thats was a good lick....i'd a done the same
[11:42] {dino} deck filled
[11:44] {_kowboy} v lost it
[11:45] {Threei}  strange that AXP doesn't follow
[11:45] {_kowboy} decoupled
[11:46] {Threei}  wait for me guys, I need to run out and send flowers to canadian finance minister
[11:46] {Threei}  (CA) Canadian Fin Min Flaherty notes Canadian banks ranked the soundest in the world for the third straight year (related USD/CAD EWC )
[11:47] {nemo} going for db on x
[11:47] {i2r} LVS .30 break? Long?
[11:47] {RonS} 3i taught him how to pat himself on the back...
[11:48] {Threei}  lol
[11:49] {Threei}  could be, LVS
[11:49] {Threei}  needs market help
[11:49] {Threei}  but the chart is right
[11:50] {nemo} mos short?
[11:50] {nemo} .64
06[11:51] * nemo crying
[11:51] {Threei}  I'd prefer to find short entry on bounce
[11:52] {Threei}  MTXX Hearing recent strength attributed to chatter the FDA is close to granting a modified form of Zicam
[11:52] {nemo} .48 bounce
[11:53] {nemo} oh, and it's lunchtime
[11:54] {RonS} and it must be raining, somewhere
[11:54] {nemo} DH
06[11:55] * nemo balling
[11:55] {Les} take your meds nemo
[11:56] {nemo} I'm drinking a Chateau Neuf de Pape as we speak
[11:56] {nemo} I type
[11:56] {dino} u da man
[11:56] {Les} what is the english translation of this title? quick answer
[11:56] {Les} or what does it represent
[11:56] {nemo} keine Ahnung
[11:57] {RonS} Welch's juice de grape
[11:57] {nemo} it's a frickin' vineyard in France
[11:57] {Les} no
[11:57] {nemo} Ron...that's absolute sacrilege, may Bacchus rip out you're entrails
[11:57] {Les} the pope moved for a short while from Rome
[11:57] {nemo} ahhh, yes
[11:57] {Les} to Avignon if I remember correctly
[11:58] {Les} the Pope's New Castle
[11:58] {Les} is the title given to the wine
[11:58] {Les} probably supplying to his holiness at the time
[11:58] {Les} the village, not the particular wine you are drinking now
[11:59] {RonS} ...the popes then were anything but holy...
[11:59] {nemo} frankly, I'm more concerned about the wine...and it is very very good
[11:59] {nemo} yeah, I had to deal with a priest last night
[11:59] {nemo} interesting experience
[11:59] {Les} nice region. makes me think of the nuclear reactor close by with the crocodile farm
[11:59] {dino} going into the priesthood nemo
[11:59] {Les} I don't want to hear about your experiences with a priest
[12:00] {RonS} lol Les
[12:00] {dino} lol
[12:00] {nemo} he had to "approve" my eulogy for a funeral on Saturday
[12:00] {Threei}  US Court has reportedly halted the ban on embryonic stem cell research (related STEM GERN )
[12:00] {Threei}  GERN explosion
[12:25] {Threei}  as expected, holiday trading today
[12:27] {Threei} Short Setup: MOS  .70 break
[12:31] {Threei}  just a scalp most likely
[12:32] {Threei}  1:1
[12:38] {nemo} X may be of interest
[12:38] {Threei}  everyone's asleep anyway
[12:39] {i2r} i like X
[12:39] {i2r} I'd like it more if it moved
[12:40] {nemo} n .70
[12:40] {i2r} n?
[12:40] {nemo} in bad "i"
[12:40] {i2r} k
[12:41] {i2r} scalp?
[12:41] {nemo} most likely
[12:42] {i2r} if everyone is asleep, vad, how is everyone making money???
[12:42] {Threei}  I assumed no one did since no reports appeared
[12:43] {i2r} this is my second day of extreme losses
[12:43] {Threei}  hmm?
[12:43] {i2r} all because I simply don't have a plan
[12:44] {Threei}  how do you manage to lose money yesterday?
[12:44] {i2r} doing the same thing I did  before
[12:44] {Threei}  we haven't had a single stop
[12:44] {i2r} had some good ones and some really bad ones
[12:44] {i2r} I did my own thing, as usual
[12:45] {i2r} need extreme makeover :)
[12:45] {i2r} or I'm out
[12:45] {Threei}  where is my 2x4
[12:45] {Les} I come back to the master with firm intent to follow his every move
[12:45] {i2r} that would be helpful, actually earlier would have been better :)
[12:45] {gregns} i2r, i empathize with you!
[12:45] {Les} and nothing more for a time
[12:46] {Threei}  let's agree on one thing guys
[12:46] {Threei}  whether you follow my trades, or do yours or apply some mix,
[12:47] {Threei}  one thing is paramount:
[12:47] {Threei}  follow the plan procedures outlined in MPP,
[12:47] {Threei}  apply strict discipline
[12:47] {Threei}  and keep your *&#)& stops
[12:47] {Threei}  if you don't, you are dead
[12:47] {nemo} !!!!!!!!!!!!!!!!!!!!!!
[12:48] {Threei}  stock picking is secondary,
[12:48] {Threei}  entries and exits are secondary,
[12:48] {Threei}  discipline and structure are primary elements that will meake or break you
[12:49] {dino} db
[12:49] {nemo} x low
[12:49] {nemo} broke
[12:49] {dino} 9b in shares
[12:49] {Threei}  talk to any successful trader surviving over a long enough period of time, and they will tell invariably:
[12:50] {Threei}  it's not right entries or exits that kept them alive,
[12:50] {nemo} keeping stops
[12:50] {Threei}  that's flike, some days you get it, some tyou don't,
[12:50] {Les} stops I keep
[12:50] {Threei}  it's discipline and structure that kept them surviving bad days and allowing them to maximize wins on good ones
[12:51] {i2r} k
[12:51] {dino} make stops your religion
[12:51] {Threei}  do you take trades because there are setups, or because of emotional impulses?
[12:51] {Threei}  do you exit when trade is exhausted or rush to grab any couple cents, just to avoid loss?
[12:51] {Threei}  do you take a stop when trade is not working or do you sit and hope?
[12:52] {nemo} X is about to break .50 pivot support is .40, might be worth watching
[12:53] {nemo} also, fcx approaching lod
[12:53] {Threei}  look at two days for comparison
[12:53] {Threei}  Tuesday, things didn't work out from the start,
[12:54] {Threei}  three stops in a row
[12:54] {Threei}  what did I do?
[12:54] {i2r} some are setups, many are impulses, then impulse on exits, and for the last one, sit and hope
[12:54] {Threei}  cut back severely, waited a few hours,
[12:54] {i2r} k
[12:54] {Threei}  found couple safe trades, got two wins,
[12:54] {Threei}  didn't make a day positive but trimmed losses to modest
[12:54] {Threei}  Wed came,
[12:54] {gregns} thanks vad, these things I need to read and hear often and apply!!!
[12:55] {Threei}  every trade worked like charm,
[12:55] {Threei}  pushed harder,
[12:55] {Threei}  got more of them,
[12:55] {Threei}  rode them to bigger gains,
[12:55] {Threei}  got a daay that covered Tuesday by factor 3
[12:55] {Threei}  today came, a few setups got invalidated,
[12:56] {Threei}  holiday trading, thin,
[12:56] {Threei}  what did we do?
[12:56] {i2r} that's cause you designed MPP and honestly, I didn't even finish reading it, too eagier just to trade
[12:56] {Threei}  cut back on trades, took most safe one,.
[12:56] {i2r} no wonder I'm where I am
[12:56] {Threei}  having modest profitable day
[12:56] {i2r} yep
[12:56] {Threei}  well... how about devoting this weekend to reading it,
[12:57] {Threei}  and not just reading,
[12:57] {Threei}  try to live througgh it,
[12:57] {Threei}  identify your experiences
[12:57] {Threei}  in what you read there
[12:58] {Threei}  I hear all the time that a lot of things in MPP (and in TTR for that matter) are like "you are looking over my shoulder"
[12:58] {Threei}  nice on X nemo
[12:58] {Threei}  my guarantee to you:
[12:58] {Threei}  if you don't read any single book on trading anymore, ever,
[12:59] {Threei}  but apply everything in MPP to your trading
[12:59] {Threei}  you won't believe how much it will change to the better
[12:59] {i2r} k
[12:59] {i2r} deal
[12:59] {nemo} spy broke low
[13:00] {nemo} 50% retracement here
[13:00] {nemo} pivot support at .90
[13:00] {i2r} of course I have a course this weekend, but I will devote time to going through it fully
[13:01] {ese} what the H happened to the mrkt here?
[13:02] {Threei}  Indirect bidders take 36% of competitive bids, 8% go to Direct bidders
[13:02] {Threei}  (EU) ECB's Trichet: ECB will progressively phase out its non-standard measures - FT
[13:03] {nemo} that mean's broker dealers took the most, really bad
[13:04] {Threei}  Primary Dealers take 55.6%
[13:04] {Threei}  - Median 3.755%, Low 3.69%
[13:04] {nemo} thought so
[13:04] {ese} why so nemo?      I don't get this one?
[13:04] {Les} so that means Fed gonna get into monetizing debt?
[13:04] {nemo} broker dealers have to buy the bonds, they're market makers...the TBTF banks
[13:04] {Les} if no one else wants it...
[13:05] {nemo} indirect bidders are the ke
[13:05] {nemo} those are the investors
[13:05] {nemo} they ain't buying
[13:05] {nemo} ke=key
[13:10] {nemo} ese...that's one of the reason the huge banks aren't broken up..the fed needs them
[13:12] {nemo} soy vay, next stop spy 110.72 or so
[13:12] {ese} tks nemo.......always something new
[13:15] {Threei}  ugh... AXP was just delayed
[13:15] {Threei}  was so worth a short... in hindsight
[13:16] {Threei}  GM Carlos Ghosn: GM asked him to leave Renault-Nissan to run GM but he declined
[13:16] {Threei}  good
[13:16] {nemo} in tna .04
[13:16] {nemo} 1/2 out .14
[13:16] {Threei}  I want to have my Nissan, not GMissan
[13:17] {nemo} 1/4 more .22
[13:17] {Threei}  - Says he instead proposed GM should join the Renault-Nissan alliance
[13:17] {Threei}  I strongly oppose
[13:18] {nemo} stop .08
[13:18] {Threei}  wtg
[13:20] {nemo} stop under .15
[13:22] {dino} skx
[13:23] {nemo} oy vay dino
[13:24] {nemo} thinking 23.50 area
[13:24] {RonS} shoe guys all under pressure...crox, deck, shoo not too bad
[13:25] {nemo} adios tna
[13:25] {Threei}  no people need no shoes no more
[13:25] {nemo} well said
[13:25] {nemo} .............not
[13:25] {Threei}  sigh
[13:25] {Threei}  and I was trying so hard
[13:26] {nemo} you lie
[13:27] {Threei}  - Ghosn says auto industry is recovering slowly.
[13:27] {Threei}  - Sees strong demand in electric cars, however it will take 20 to 30 years before electric cars "dominate"
[13:29] {ese} out of my remaining pertion of fitb .84 +.30
[13:30] {ese} gotta go to.....time to teach choir.....any joiners
[13:30] {ese} portion
[13:30] {Threei}  sold any above 12 earlier?
[13:31] {Threei}  20 to 30 years before electric cars "dominate"... not sure about that
[13:31] {ese} was going too but that ridiculous pullback happened
[13:31] {nemo} 2012 dude
[13:31] {Threei}  unless serious technological breakthrough happens, it will occur never
[13:32] {ese} was waiting to see if fitb was gonna do the 2:30 climb
[13:32] {i2r} hoover technology will kick in faster than electric cars, with the help of global warming
[13:32] {ese} cya
[13:34] {Threei}  hoover?
[13:34] {i2r} LVS long if stays above .60?
[13:34] {i2r} hover*
[13:34] {Threei}  I don't have a trigger for LVS
[13:35] {i2r} I have a trigger for everything these days :)
[13:35] {i2r} but I won't use it anymore :)
[13:35] {Threei}  lol
[13:36] {nemo} in x .12
[13:37] {nemo} stop lod
[13:37] {i2r} i missed X at .07 in front of my eyes!
[13:37] {nemo} 1/2 out .18
[13:38] {nemo} stop be
[13:41] {i2r} So, out of about 1000 stocks, are there any you guys are looking at? I need some ideas
[13:42] {nemo} out .24
[13:42] {nemo} 2r I watch a rotating basket
[13:42] {dino} same
[13:42] {i2r} gj nemo
[13:42] {nemo} ty
[13:42] {RonS} does it hang from a chain or a rope?
[13:42] {i2r} rotating basket? c'est quoi ce?
[13:42] {nemo} pretty funny ron
[13:43] {i2r} lol
[13:43] {nemo} I'm still strong enough to hold them up on my own
[13:43] {Les} with your ego
[13:43] {nemo} whatever works
[13:44] {Les} fair enough
[13:45] {RonS} when is that old magoo gonna start participating?
[13:45] {nemo} when he gets his meds straightened out
[13:46] {nemo} the estrogen just wasn't working for him
[13:46] {i2r} is everyone on meds here?
[13:46] {Threei}  sadly, some are not
[13:47] {RonS} and those are the ones who think alcohol is not drugs...
[13:47] {nemo} well....I only use it for medicinal purposes
[13:48] {Threei}  that's why he adds mint to it
[13:48] {nemo} BIDU
[13:48] {nemo} break of .60?
[13:49] {RonS} sohu
[13:49] {nemo} damn
[13:49] {RonS} break of 52.50?
[13:50] {dino} skx sm l .85
[13:50] {i2r} looks like market and LVS are going up
[13:51] {dino} deck sm l .20
[13:56] {RonS} r things as slow as they feel?  holy smokes...
[13:56] {i2r} crazy, up and down
[13:56] {dino} stopped deck and skx
[13:57] {dino} not my day
[13:57] {i2r} LVS broke
[14:00] {dino} 9 states did not report unemployment data, so fed estimated 7 of them, cal. and va est. there's,. govt statistics now made on the fly
[14:01] {nemo} not to mention birth/death algo
[14:01] {dino} yes
[14:01] {dino} politics coming into play
[14:01] {nemo} politics ALWAYS n play
[14:02] {nemo} frickin' "i"
[14:02] {Les} come on dino, what happened to innocent until proven guilty
[14:02] {dino} ask bp
[14:09] {Les} c'mon LVS
[14:10] {Threei}  I think "politicize everything" approach ceases working
[14:10] {Threei}  look at this:
[14:11] {Threei}  after a few speeches where fired up president attacked republicans, made it very personal etc,
[14:11] {Threei}
[14:11] {Threei}  new low
[14:14] {Les} that ain't the MPP there. Hurts my brain to read it
[14:15] {Les} maybe its the Gigondas kicking in
[14:15] {nemo} frickin comic books hurt your brain
[14:15] {Les} a neighbour of Nemo's Chateau Neuf
[14:15] {Les} after a bottle, they certainly do
[14:15] {nemo} almost finished by the way.  1999 vintage excellent
[14:16] {nemo} 63 petrus is next
[14:16] {nemo} Petrus
[14:16] {Threei}  (SP) Spain Min Ordonez: Basel 3 will incur a large cost upon the global financial industry and economies as a while
[14:16] {Threei}  imbeciles
[14:20] {Les} CA VA PAS!
[14:20] {Les} we have an expression here
[14:20] {nemo} como se va?
[14:21] {Les} we don't feed jam to pigs
[14:21] {Les} Please forward the Petrus to the following address:
[14:21] {RonS} in honor of Rosh Hoshana, one of my favorite Jewish jokes:  Why did God invent gentiles?
[14:21] {Les} what's a gentile?
[14:21] {RonS} ...somebody has to pay retail...
[14:22] {nemo} christian Les
[14:22] {dino} in mexico, sushi is known as "bait"
[14:22] {Threei}  lol
[14:22] {Threei}  I'll give you another, Ron, classic:
[14:23] {Threei}  teacher: who knows what we get if we multiply 2 by 2?
[14:23] {Threei}  student: well... depends... are we selling or buying?
[14:24] {RonS} lol
[14:26] {Les} hehehe
[14:26] {Threei}  wow...
[14:27] {nemo} tna bottom?
[14:27] {Threei}  your reaction times guys.. giraffes are fast vs you
[14:27] {Threei}  doesn't look like that to me
[14:27] {nemo} look away for a second and miss .51 breAK
[14:27] {nemo} TASER MY ASS!!!
[14:27] {nemo} maybe not, might give me brain damage
[14:28] {Les} leave it alone vad. I just got back from the tabler
[14:28] {Les} dinner table
[14:29] {Les} paid you a compliment
[14:29] {Threei}  ok... dinner will do that to you
[14:29] {Les} for a joke nazi
[14:29] {RonS} ...petted a giraffe one time...their hide is suprsingly tough...learned later that it is 1 1/2 - 2 inches thick
[14:29] {Les} that wasn't bad
[14:29] {nemo} so...your not as think as you drunk are
[14:29] {Les} no
[14:29] {Les} on to the whisky for finishing this fine evening
[14:30] {dino} wow skx
[14:30] {Threei}  ok, that becomes interesting
[14:30] {dino} deck too
[14:30] {Threei}  what kind?
[14:30] {nemo} I
[14:30] {Threei}  DECK looks bounce ready to me now, dino
[14:30] {nemo} ve got 21.65 as support for skx dino
[14:31] {RonS} uggs out of fashion...toning shoes cause ankle problems
[14:31] {dino} skx sm l .03
[14:31] {Les} macallan triple cask
[14:31] {Les} bourbon, sherry casked 12 year old
[14:31] {Les} bought it by accident
[14:31] {Les} I hate bourbon
[14:32] {Les} but starting to enjoy the hint of bourbon in the whisky
[14:32] {RonS} sm l deck 45.25
[14:33] {Threei} Long Setup:  TNA  .65 half lot
[14:35] {Threei}  out .82
[14:35] {Threei}  nice and easy
[14:40] {dino} perhaps obanimnation has banned the use of shoes; skx, deck
[14:41] {nemo} watching for C&H on TNA
[14:48] {Threei} Long Setup:  DECK  .08 break half lot
[14:50] {Threei}  see why .08?
[14:51] {Les} nope
[14:51] {gregns} big reserve?
[14:51] {Threei}  yup
[14:51] {Threei}  Hewlett-Packard Co Investigation into allegations of bribery in Russia has reportedly been expanded to include other states
[14:51] {Threei}  - Reminder: in mid August WSJ reported that the US DOJ was seeking documents from Hewlett to support investigation led by German Prosecutors over allegations of bribery in Russia
[14:51] {i2r} how do you see the reserve?
[14:52] {Les} reserve? u mean there's a big seller offloading?
[14:52] {Threei}  watching Level 2 and T&S?
[14:52] {i2r} yes
[14:52] {Threei}  huge buys go at that price, single seller stays refresahing his smallish offer
[14:53] {dino} mdvn
[14:53] {Threei}  if/when he is done, it's like lid being lifted
[14:53] {Threei}  stock explodes
[14:53] {i2r} i get what you are saying, just don't get how you read that there's a reserve
[14:54] {Threei}  he shows a few hundred shares
[14:54] {i2r} you mean he keeps trying to sell at .08
[14:54] {i2r} right
[14:54] {Threei}  gets hit for many thousands
[14:54] {i2r} ah ok
[14:54] {i2r} got it
[14:54] {Threei}  stays there
[14:54] {i2r} combo of T&S and L2
[14:54] {Threei}  what is it if not reserve order?
[14:54] {i2r} makes sense
[14:54] {i2r} I thought you meant it shows up as a reserve
[14:54] {i2r} but got it now
[14:55] {i2r} then again, how can you confirm that .08 is reserve for that guy? What if someone else has it at .09 or .1?
[14:56] {i2r} what makes it evident that it's a almost a sure thing that past .08 no one else will do the same?
[14:56] {Threei}  smeone else can do anything else at any other price
[14:56] {Threei}  but all you have to go off is what you can see and identify
[14:56] {i2r} ok
[14:56] {Threei}  so far, .08 proved to be resistance, so break of it becomes a trigger
[14:56] {i2r} k
[14:57] {Threei}  and no, there is no 100% guarantee
[14:57] {i2r} that was a good explanation though, I didn't look for that before
[14:59] {Threei}  how's that for an explosion?
[14:59] {Threei}  out at .22
[15:00] {i2r} very well done! :)
[15:00] {Threei}  100% today?
[15:01] {Les} surprised you haven't asked if you could leave vad
[15:01] {gregns} ty
[15:01] {Threei}  welcome
[15:01] {Threei}  I do that if I wake up Les
[15:01] {Threei}  but today I never did
[15:01] {Les} certainly profitable for you to sleep walk
[15:01] {Les} through a session
[15:01] {Threei}  normally, yes
[15:02] {Threei}  allows intuition to shine through
[15:04] {Threei}  DECK non-stop
[15:05] {Threei}  btw i2r, this situation with reserve orders is shown in scalping course
[15:05] {Threei}  I suspect you haven't gotten through that either? :)
06[15:06] * Threei prepares 2x4
06[15:06] * nemo gives 3i rusty nails
06[15:06] * Threei nods and encrusts 2x4 with those nails
06[15:07] * nemo asks, "curari?"
[15:07] {Threei}  nah, we want hi\m suffer
[15:07] {nemo} true, we'll skip the tetanus shot
[15:07] {RonS} out deck .48 +.23
[15:07] {Threei}  totally, that's for whimps
[15:08] {Les} psychos
[15:08] {nemo}'s beyond your wildest imagination
[15:11] {RonS} out sohu 53.02 +.50
[15:12] {Threei}  nice
[15:14] {RonS} 11:49 RonS sohu   11:49 RonS break of 52.50?
[15:14] {RonS} ty
[15:14] {RonS} still running...
[15:14] {nemo} huge volume last few minutes...might be capitulation
[15:16] {nemo} lvs break .78?
[15:18] {nemo} stop under .73
[15:18] {Threei}  not sure
[15:18] {nemo} 200 ma at .80
[15:18] {RonS} opinions?  long gern at 5.31...should i take it overnight or sell here and now?
[15:19] {Threei}  I'd keep stop under .20
[15:19] {RonS} ok
[15:20] {RonS} nemo?
[15:20] {nemo} Ron?
[15:20] {i2r} lol
[15:20] {RonS} look at gern por favor...
[15:21] {Threei}  he can't
[15:21] {Threei}  GERN disgusts him
[15:21] {RonS} well, i can understand that...
[15:22] {nemo} I don't think the R/R warrants it
[15:22] {RonS} R/R?
[15:22] {i2r} the day the market stood still
[15:22] {nemo} more than likely, imo, we'll have an inside day tomorrow  Risk/Reward
[15:22] {RonS} gotcha, thanks.
[15:23] {nemo} today is an inside day in gern
[15:23] {nemo} frig, looking at gern I forgot about LVS
[15:24] {i2r} L LVS .8
[15:24] {nemo} bastid
[15:25] {nemo} vwap for spy is .18 things might slow down
[15:25] {i2r} k
[15:26] {nemo} i2r, what kind of plays did you cough up the furball on, break outs, or pullback plays?
[15:26] {nemo} on what kind of plays?
[15:26] {nemo} oy vay
[15:27] {i2r} pullbacks
[15:27] {nemo} at what time, did you make the pullback plays
[15:27] {i2r} out LVS .79 -.01
[15:28] {i2r} I find that i often would read the stock well, as in if I just kept my trade the way I planned, but I chicken out
[15:28] {i2r} or think too much :)
[15:28] {i2r} and look at the money, instead of the setup
[15:28] {nemo} ahhhhh
[15:28] {i2r} all the common issues
[15:29] {nemo} yeah...psychological
[15:33] {RonS} we all trade against the man in the mirror, 'cept 3i
[15:33] {dino} back in ten
[15:33] {nemo} 3i cast no reflection
[15:34] {Threei}  lol
[15:34] {RonS} that's what I was thinking  :D
[15:37] {Threei}  - NYSE volume 585M shares, about 24% below its three-month average; advancers lead decliners by 1.8:1.
[15:37] {Threei}  - NASDAQ volume 1.39B shares, about 14% below its three-month average; advancers lead decliners by 1.2:1.
[15:39] {RonS} dang, cree...
[15:51] {dino} tomorrow it should move up, imo
[15:57] {Threei}  ok guys, thank you all
[15:57] {Threei}  have a good evening
[15:57] {Threei}  see you tomorrow
[15:57] {RonS} u too