Monday, September 27, 2010

Sep 27 2010

Strong and productive day, with 5 wins out of 6 calls, then 2 more discretionary - both profitable. The chart below is one of the calls, very generic setup - and this is exactly the point. When this kind of "bread and butter" setups work consistently, we are in the nice traders market. Annotations help to decipher it, click for larger view (Oh, and is it irony or what, that upon return fro m Las Vegas my first two plays are MGM and LVS!)

Session Time: Mon Sep 27 00:00:00 2010
[08:30] {Threei}  *(US) AUG CHICAGO FED NATIONAL ACTIVITY INDEX: -0.53 V -0.50E
[08:38] {dino} gm all
[08:38] {Threei}  dino :)
[08:40] {dino} welcome back 3i, tryst that you had a good trip
[08:40] {nemo} He had a tryst to?
[08:40] {nemo} too
[08:40] {Threei}  ty
[08:41] {Threei}  very good, except for the heat
[08:41] {Threei}  vegas is not for me this time of the year
[08:42] {Threei}  EUR/USD Approaches 1.35 ahead of NY equity open
[08:48] {dino} lol nemo, tryst=trust. my bad
[09:06] {Threei}  (GR) Greece Fin Min Papaconstantinou: Expects growth by the end of 2011; no extension of MOU with EU and IMF
[09:07] {Threei}  oh btw... if anyone is planning on visiting vegas anytime soon, fair warning:
[09:08] {Threei}  whatever you do, do not talk about current president in any kind of positive terms... that'll get you in troubles quicker than attempt to cheat at the card table
[09:09] {Threei}  he made very few friends in that city with his remarks about companies setting conferences in there
[09:11] {dino} he deserves that
[09:11] {Threei}  couple quick impressions from this visit:
[09:12] {Threei}  1. vegas is hit very very hard... beyond anything I imagined
[09:13] {Threei}  2. the segment between Monte Carlo and Belagio, where they erected new hotels/casino/boutiques, became completely pedestrian- unfriendly
[09:13] {Threei}  3. audience is very different from what I used to see on seminars:
[09:14] {Threei}  much older, no one under 30, very few under 40, a lot above 60
[09:14] {Threei}  and when asked how many intend to day trade - about 90% raise their hand
[09:16] {RonS} (Reuters) - President Barack Obama said on Monday the United States must accelerate job growth, but he said the country was not experiencing a "jobless recovery" as it pulled out of a recession.
[09:16] {RonS} gm all
[09:16] {Threei}  Ron :)
[09:17] {ese} morning....welcome back vad
[09:17] {Threei}  hi ese, thank you
[09:18] {Threei}  I was so happy to see clouds as plane approached Seattle... can't stand this relentless heat in Vegas
[09:20] {lilyd} good morning!
[09:20] {Threei}  lily :)
[09:25] {Threei}  I see market did a moonshot
[09:26] {jfjf64} welcme bk 3i
[09:26] {Threei}  ty jf
[09:27] {jfjf64} mgm  quite the mover pre mkt
[09:29] {Threei}  MGM MGM China Holdings files for a proposed listing application with the Hong Kong stock exchange - filing
[09:29] {jfjf64} ty
[09:29] {Threei}  11 break looks interesting
[09:30] {Threei}  and LVS break of 34
[09:31] {Threei}  (EU) ECB's Trichet: Needs a system of oversight and transparency; Regulation differences with US would create issues - Q&A session (related EUR/USD EUR/GBP EUR/JPY BUNDS )
[09:31] {Threei} Long Setup:  MGM  11 break
[09:32] {Threei}  stop for scalpers under .95
[09:32] {Threei}  day traders .90
[09:34] {Threei} Long Setup:  LVS  .95 break
[09:34] {Threei}  if stays above .85
[09:34] {Threei}  over 1:1
[09:34] {Threei}  that was fast
[09:35] {Threei}  1:2
[09:37] {dino} shld drop
[09:37] {dino} ed's getting hit
[09:38] {jfjf64} rig   monster
[09:38] {Threei}  MGM, half out
[09:38] {Threei}  .14
[09:38] {Threei}  over 1:1
[09:38] {Threei}  LVS 1/4 more out .25
[09:39] {Threei}  MGM gave beautiful second chance entry for those who missed original break
[09:40] {jfjf64} went  in  11.00
[09:40] {jfjf64} ty
[09:40] {Threei}  stop to b/e MGM and to 34.10 LVS
[09:41] {Threei}  done with LVS for now
[09:41] {Threei}  RIG
[09:41] {Threei}  interesting pullback
[09:41] {jfjf64} watchin
[09:41] {Threei}  prepare smaller shares
[09:41] {Threei}  quick dive under .50,
[09:41] {Threei}  little base and recross
[09:41] {Threei}  this is the idea
[09:42] {daviddrosenfeld} Out MGM +.11
[09:42] {Threei}  david :)
[09:44] {Threei}  RIG got away
[09:44] {Threei}  turns into short now actually...
[09:45] {Threei}  .20 break smaller shares
[09:45] {Threei}  if stays below .35
[09:45] {Threei}  1:1
[09:45] {Threei}  1:2
[09:45] {Threei}  cover
[09:46] {jfjf64} nice
[09:46] {jfjf64} welcome  bk
[09:46] {jfjf64} no  more  vacations
[09:46] {Threei}  lol
[09:46] {Threei}  why
[09:47] {jfjf64} hmmm
[09:47] {Threei}  see how effectively I function after that
[09:47] {jfjf64} lol
[09:47] {jfjf64} true
[09:47] {Threei}  and hey, it was hard work
[09:47] {Threei}  for whole 45 minutes of my presentation
[09:47] {jfjf64} bet  ya were  biten  at  the  bit
[09:47] {jfjf64} to  get  bk  to  work
[09:48] {jfjf64} im  still in  mgm
[09:48] {jfjf64} u
[09:48] {Threei}  yes
[09:48] {Threei}  half
[09:48] {jfjf64} k
[09:48] {jfjf64} y
[09:48] {jfjf64} stop??
[09:49] {jfjf64} .08
[09:49] {Threei}  well
[09:49] {Threei}  depends
[09:49] {Threei}  I'd prefer to keep it under 11 still
[09:49] {Threei}  and trail when it makes new high
[09:49] {jfjf64} reason??
[09:51] {dino} cis spike
[09:52] {jfjf64} watchin  bidu
[09:53] {ese} L hpq .26
[09:53] {ese} 1/2
[09:54] {ese} damn loaded it wrong....wanted full lot
[09:55] {ese} out ..38 +.12
[09:56] {Threei}  so far so good
[09:56] {Threei}  3:3
[09:57] {Threei} Long Setup:  RIG  62.10, smaller shares
[09:57] {Threei}  if stays above .90
[09:58] {Threei}  invalidated
[09:59] {Threei}  change of plans
[09:59] {Threei} Short Setup: RIG  .85
[10:00] {Threei}  if stays under 62
[10:00] {Threei}  smaller shares remember
[10:00] {Les} now who's changing their mind after 45 seconds? :)
[10:01] {Threei}  not me... full 1 min and 15 seconds
[10:01] {Threei}  no go anyway
[10:01] {Threei}  MGM last portion is closed
[10:01] {Threei}  back to cash, waiting for the next play
[10:02] {jfjf64} hmm
[10:02] {jfjf64} dont  think  i  ever  heard  ya  say  that
[10:02] {jfjf64} back  to  cash
[10:02] {Threei}  which part?
[10:02] {jfjf64} lol
[10:03] {Threei}  well, there were two plays with partials
[10:03] {Threei}  even three if count RIG first short
[10:03] {jfjf64} k
[10:03] {Threei}  and they were closed one by one, so indicated the moment of total getting out of all positions
[10:03] {jfjf64} dont  get  angry
[10:03] {Threei}  huh?
[10:04] {jfjf64} lol
[10:04] {jfjf64} dont  mindd me
06[10:04] * Threei slaps jfjf64 around a bit with a large box of pent-up anger
[10:04] {jfjf64} up  late
[10:04] {jfjf64} watchin
[10:04] {jfjf64} J
[10:04] {jfjf64} E
[10:04] {jfjf64} T
[10:04] {jfjf64} S
[10:04] {jfjf64} JETS
[10:05] {dino} yeah baby
[10:05] {jfjf64} lookin  good
[10:05] {dino} indeed
06[10:05] * Threei send jfjf64 Alka Seltzer
[10:06] {jfjf64} please
[10:06] {dino} scvl l .00
[10:06] {jfjf64} lot  of  sushi
[10:06] {jfjf64} feel  sick indeed
[10:07] {Threei} Long Setup:  RIMM  .60 break half lot
[10:07] {jfjf64} mornin  nemo
[10:07] {Threei}  if stays above .50
[10:07] {jfjf64} very  quiet
[10:08] {nemo} not trading, doing other stuff
[10:08] {nemo} watching my hard drive defrag
[10:08] {Threei}  that must be highly entertaining
[10:09] {jfjf64} my  thoughts  exactly
[10:09] {dino} lol
[10:09] {nemo} kinda' like zen meditation
[10:09] {daviddrosenfeld} In scvl .00
[10:10] {jfjf64} comon  rimm
[10:10] {dino} thin and gappy ddr
[10:11] {Threei}  invalidated
[10:11] {Threei}  SCVL?
[10:11] {Threei}  why?
[10:11] {daviddrosenfeld} Dino scvl stop?
[10:12] {dino} 13 cents
[10:12] {Threei}  you guys love high adrenalin eh?
[10:15] {daviddrosenfeld} I just follow Dino because it's a cool name
[10:15] {jfjf64} lol
[10:15] {Threei}  well... there are more reasons to follow him actually, lol
[10:16] {jfjf64} keep  ya  stops
[10:16] {Threei}  just remember that his plays are high risk for the most part
[10:16] {Threei}  so keep your shares reasonable
[10:19] {jfjf64} 3i question
[10:19] {dino} out scvl .12 +.12
[10:19] {jfjf64} intelliscan
[10:19] {jfjf64} all scans  are  set up  for  5  min  charts
[10:20] {jfjf64} correct
[10:20] {Threei}  not necessary
[10:21] {Threei}  check the setting for each particular alert under: configure - window specific filters
[10:21] {jfjf64} dont seem  lk  1  min charts
[10:21] {jfjf64} k
[10:22] {Threei}  and Select alerts
[10:22] {Threei}  there are too many variations to answer generic
[10:22] {Threei} Long Setup:  LVS  .10 break
[10:23] {Threei}  stop under 34
[10:23] {Threei}  for scalpers under .05
[10:25] {Threei}  scalpers have 1:1
[10:25] {Threei}  we however despise those pesky creatures, right?
[10:25] {Threei}  day traders 1:1, half out
[10:25] {Threei}  stop to under .10 for the balance
[10:26] {Threei}  that's 4 for 5 today... can I go home?
[10:27] {Threei}  SVNT Hearing vague takeover chatter circulating
[10:30] {Threei}  picture oerfect so far, LVS
[10:30] {Threei}  perfect too
[10:30] {Threei}  1:2
[10:30] {Threei}  1/4 more out
[10:30] {Threei}  1:3
[10:31] {Threei}  *(US) SEPT DALLAS FED MANUFACTURING ACTIVITY: -17.7 V -7E (related EUR/USD SPY SHY )
[10:31] {Threei}  was it a perfect play or what
[10:31] {Threei}  anyone took it, or I leave these premises immediately?
[10:31] {jfjf64} lol
[10:31] {jfjf64} ty
[10:32] {Threei}  you did, or you are just saying that?
[10:32] {jfjf64} i  did
[10:32] {Threei}  OK, jf stays
[10:32] {strider} I did, but I'm just saying that.
[10:32] {Threei}  hmmm
[10:32] {jfjf64} lol
[10:32] {Threei}  I am easily confused
[10:33] {lilyd} I did, but just the first part
[10:33] {jfjf64} stop  thinkin
[10:33] {daviddrosenfeld} Out scvL +.12
[10:33] {strider} lily just took the profit, but not the risk.
[10:33] {Threei}  ty lily... I feel useful
[10:34] {jfjf64} vegas  good 4  ya
[10:34] {Threei}  well... more useful than I did 5 min ago
[10:34] {lilyd} lily is still at only 50 shares - I think if I tried to split it up, I would have trouble even making back the commission
[10:35] {Threei}  true, but paper trade this kind if you intend to learn partialojng out and apply it with bigger shares
[10:37] {lilyd} I'm just not good at papertrading - I can't keep my focus up w/o it being 'reality trading'
[10:37] {Daviddrosenfeld} Gj Dino
[10:37] {jfjf64} process
06[10:37] * strider slaps lilyd around a bit with a large magnifying glass
[10:38] {jfjf64} wynn
[10:38] {jfjf64} bounce??
[10:38] {dino} thx ddr
[10:38] {jfjf64} ddr
[10:39] {dino} watching isln
[10:39] {jfjf64} lk it
[10:39] {jfjf64} lol
[10:40] {jfjf64} 5/6  today  3i
[10:40] {jfjf64} nice
[10:41] {Threei}  hmmm
[10:41] {Threei}  my math is off?
[10:41] {Threei}  I counted 4:5
[10:41] {jfjf64} maybe  mine
[10:41] {jfjf64} u right
[10:42] {jfjf64} drys
[10:42] {jfjf64} remember drys
[10:42] {jfjf64} lol
[10:43] {jfjf64} that  was  a  go  to  guy  last  yr
[10:45] {jfjf64} wynn  makin  nice  base
[10:45] {jfjf64} .30 break
[10:45] {ese} L mchp .19
[10:45] {jfjf64} ??
[10:45] {Threei}  not my cup of tea, jf
[10:47] {Les} RIG creep up
[10:47] {jfjf64} watchin
[10:47] {Threei}  POT Reportedly US judge rejects BHP request to block Potash request to block merger (146.44, +0.44, 0.30%)
[10:48] {strider} MGM
[10:49] {RonS} ...what does a US judge have to do w/ any of it?
[10:49] {Threei}  watching MOS
[10:51] {Threei}  Ron, it must be a case of "Ukraine and Ivory Coast signed an agreement about peace between Argentina and Mongolia"
[10:51] {Threei} Long Setup:  MOS  .05 half lot
[10:51] {Threei}  if stays above .95
[10:53] {Threei}  1:1
[10:53] {jfjf64} nice
[10:56] {ese} question vad......that one didn't have as much volume as what is normally customary for you..........was it just price action then?
[10:56] {Threei}  MOS you mean?
[10:56] {ese} ya
[10:56] {Threei}  1:2
[10:56] {Threei}  me out
[10:56] {ese} nice one
[10:56] {Threei}  well, it's not like it's a low volume puker, over 1 millions shares alreadt
[10:57] {Threei}  it's a bit thinner than most of my plays
[10:57] {ese} ok
[10:57] {Threei}  that's why 1/2 lot alert
[10:57] {ese} gottcha
[10:57] {ese} just wondering....usually T&S is going like crazy when you get in
[10:58] {Threei}  that's normal for regfular entry
[10:58] {Threei}  it's the shortcoming of it
[10:58] {Threei}  remember three kinds of entries
[10:58] {Threei}  and their advantages and shirtcomings?
[10:58] {jfjf64} lvs  vol
[10:58] {ese} yup
[10:59] {jfjf64} 3  kinds  entrries
[10:59] {jfjf64} ?
[10:59] {Threei}  I caught up with jf's math... 5:6
[10:59] {jfjf64} lol
[10:59] {Threei}  hold on jf, will give you url
[10:59] {ese} am liking this slow climb of mchp
[11:00] {Threei}
[11:05] {jfjf64} thanks  3i
[11:09] {jfjf64} aig
[11:09] {jfjf64} 5  min  looks  nice
[11:09] {lilyd} that's good info to remember
[11:10] {Threei}  37 break was perfect on AIG but I wasn't watching it at the time
[11:10] {jfjf64} yes
[11:10] {jfjf64} guess  jbi
[11:10] {jfjf64} correct
[11:11] {jfjf64} bammmmmmmmmmmmmmmmmmmmmmm
[11:15] {Les} rig vad. . 70 b/d?
[11:15] {Les} yeh
[11:15] {Threei}  ummm
[11:15] {Threei}  yes
[11:15] {Threei}  lol
[11:15] {RonS} dino, rdwr suferring a downgrade today. The thing is pulpy but I can't seem to get a bead on direction.  Thoughts?
[11:16] {dino} let me see
[11:16] {jfjf64} wynn
[11:16] {jfjf64} lod
[11:17] {dino} would like a re-test of lod area
[11:17] {dino} tnc l .65
[11:17] {jfjf64} d/b
[11:17] {dino} y
[11:21] {ese} out mchp even
[11:23] {nemo} Ron Dcc
[11:25] {jfjf64} look  aig
[11:25] {dino} partial l isln .81
[11:26] {Threei}  I don't want to
[11:26] {Les} RIG vad, threatening to break out?
[11:27] {Threei}  low probability play
[11:27] {Les} or put me to sleep watching
[11:27] {Les} right
[11:28] {jfjf64} luv
[11:28] {jfjf64} strong
[11:29] {jfjf64} nem
[11:29] {dino} luv buying aai
[11:30] {jfjf64} d/b
[11:31] {dino} mtb deathroll
[11:36] {Les} frikin RIG
[11:36] {Les} Ooh
[11:36] {dino} stop isln -.20
[11:36] {ese} is that your term for an upside dn cup looking pattern dino.....funnny
[11:37] {dino} it is now
[11:37] {Threei}  (CA) Canadian Fin Min Flaherty: 98% of stimulus funding has already been committed, stimulus spending has boosted Canada GDP by 1.5 percentage points per quarter
[11:38] {Threei}  - Reiterates stimulus programs will not be extended past March, 2011 expiration date
[11:38] {Les} how much spent?
[11:38] {Threei}  peanuts vs USA
[11:39] {Threei}  $40-billion stimulus package over two years
[11:42] {Les} ok
[11:42] {Les} rig 63 was a nice fade, following the shooting star
[11:44] {Les} what's market vol like vad?
[11:45] {nemo} dow is 35% below normal
[11:45] {nemo} nas is nominal
[11:45] {Les} apol dino. pulling itself of lod?
[11:45] {nemo} s&p is about 15% below
[11:45] {Les} ty sir
06[11:46] * nemo falls on floor
[11:46] {dino} dk apol, look esi, cpla too
[11:46] {Les} esi maybe too
[11:46] {Les} yeh
[11:51] {daviddrosenfeld} Anyone short gold?
[11:52] {dino} rovi
[11:52] {Threei}  as a day trade? or you have something longer term in mind?
[11:53] {daviddrosenfeld} Gold may have peaked here and Has huge quick drops
[11:54] {Threei}  well
[11:55] {Threei}  it's a "may have" part that scares me :)
[11:55] {Threei}  my view on this is:
[11:55] {Threei}  I do believe gold will peak soon, and will kill a lot of goldbugs in the process,
[11:55] {daviddrosenfeld} Agreed.
[11:56] {Threei}  but there is one big but:
[11:56] {nemo} POMO
[11:56] {Threei}  these things tend to happen in a very chaotic unpredictable and, one could say, violent way
[11:56] {Threei}  and one of the manifestations of such violence is extreme spike
[11:56] {RonS} segway owner "may have' needed a parachute...
[11:57] {Threei}  killing premature shorts
[11:57] {Threei}  before finally reversing
[11:57] {Threei}  think of it this way:
[11:57] {Threei}  do you know many bubbles that brusted in a slow orderly way?
[11:57] {Threei}  I know of none,
[11:57] {patience} david, i'm heavily into gold.  my plan is to exit all positions by mid-week....
[11:58] {Threei}  all of them did a violent expolsive move firast
[11:58] {dino} itc
[11:58] {daviddrosenfeld} Only in retrospect:P
[11:58] {Threei}  so the question becomes,
[11:58] {Threei}  whether we had such move uet
[11:58] {Threei}  and how you read it if and when it comes
[11:58] {Threei}  this is where my firm conviction is:
[11:58] {Threei}  attempt to catch the top on the way up is a suckers game
[11:59] {Threei}  pro will let it top out,
[11:59] {daviddrosenfeld} Good.  Ty
[11:59] {Threei}  reverse,
[11:59] {Threei}  confirm the top by any of known technical setups,
[11:59] {Threei}  double top, lower highs, eyc
[11:59] {Threei}  and enter his short position after the reversal,
[11:59] {Threei}  missing exact top of course
[11:59] {Threei}  and leaving amateurs to try and catch that exact top
[12:00] {Threei}  there is no fault in that,
[12:00] {ese} L holx .00
[12:00] {Threei}  when trend reverses, it will go far far down
[12:00] {Threei}  remember oil at 150?
[12:00] {Threei}  who the heck could think back then that it was gopijg to drop to 40?
[12:02] {dino} all those early dead shorts
[12:07] {Les} APOL 49 break?
[12:07] {Threei}  looks right to me
[12:07] {Threei}  time of the day is wrong, the rest is right
[12:08] {dino} markets slow imo
[12:12] {dino} out tnc .78, +.13
[12:17] {daviddrosenfeld} In holx .00
[12:17] {Threei} Long Setup:  MOS  .90 break
[12:17] {Threei}  half lot
[12:19] {Threei}  let's recalibrate
[12:19] {Threei}  .80 break
[12:20] {Threei}  invalidated , looking for better entry
[12:21] {dino} hrbn
[12:22] {Threei}  .75 break if holding .65
[12:22] {RonS} GE And Harbin Electric Form Joint Venture To Manufacture Wind Turbines       09/27 10:20 AM
[12:24] {dino} ahhh
[12:26] {RonS} btw my news quotes are timed at mdt...
[12:27] {Threei}  something strange about this news
[12:28] {Threei}  I am not 100% sure HRBN and Harbin Electric from this press release are the same company
[12:30] {daviddrosenfeld} Mos invalidated?
[12:31] {Threei}  for now, yes
[12:31] {Threei}  may form something new but so far, didn't
[12:38] {Threei}  Preview: (US) Treasury's $36B 2-year note auction results due just after 13:00ET
[12:48] {dino} dndn
[12:48] {kowboy} dndn
[12:49] {Threei}  no news still
[12:53] {Threei}  hmmm
[12:53] {Threei}  tempting, but don't want to dive in without news
[12:53] {Threei}  could be a looong way down
[12:58] {daviddrosenfeld} out holx +.12
[12:58] {dino} gj
[12:58] {dino} pgn
[12:58] {Threei}  DNDN Hearing weakness attributed to comments out of Deutsche Bank (41.34, -1.24, -2.91%)
[12:58] {Threei}  that's all?
[12:59] {Threei}  PGN Halted; circuit breaker (43.50, -1.06, -2.38%)
[12:59] {Threei}  - Deutsche Bank commented on meeting of Centers for Medicare and Medicaid Services (CMS) to consider the impact of labeled and unlabeled use of autologous cellular immunotherapy treatment on health outcomes of patients with metastatic prostate cancer.
[13:03] {Threei}  - Indirect bidders take 39% of competitive bids, direct bidders take 11%
[13:05] {Les} someone thinks inflation is dead. .44% over 2 years...
[13:05] {Threei}  ?
[13:05] {Threei}  44% oinflation?
[13:05] {Les} the yield
[13:06] {Threei}  sorry, lost me
[13:06] {dino} otix
[13:06] {Les} .44% is yield on notes over 2 years, no?
[13:07] {Threei}  oh
[13:07] {Threei}  lol, sorry
[13:07] {Threei}  I missed .
[13:07] {Les} oh I see no not fallen off my branch yet with senility
[13:07] {Threei}  looking at what you type and thinking: 44% inflation? I want what this guy is smoking
[13:08] {Les} hehehe
[13:08] {Les} but I wouldn't be betting on just half a percent inflation in 2 years
[13:08] {Threei}  darn... I thought you foung the really good stuff
[13:09] {dino} isln l .21
[13:11] {Les} RIG 63 b/d?
[13:12] {Les} or 2 way play?
[13:12] {Threei}  most likely 2 ways'
[13:12] {Threei}  .15 break being trigger
[13:14] {Les} wish the market would be a little more active
[13:14] {dino} skx l .49
[13:14] {Threei}  come on, morning was a beauty
[13:14] {Les} wasn't here. so the morning was good was it?
[13:15] {Les} Dave still has no word on the account...
[13:15] {Threei}  doesn't 5 for 6 tell you that
[13:15] {Les} yep
[13:17] {Threei}  HRBN...
[13:17] {Threei}  the thing is horribly volatile,
[13:17] {Threei}  but it hasd a chance of another run
[13:22] {Les} RIG about ready
[13:24] {Les} sigh. gotta run. c u's tomorrow
[13:25] {dino} cya
[13:25] {Threei}  take care Les
[13:34] {Threei}  MS Fox News's Gasparino: Freezes hiring (24.82, -0.33, -1.31%)
[13:46] {Threei}  wow
[13:46] {Threei}  Ambrose Evans-Pritchard
[13:46] {Threei}  I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing.
[13:46] {Threei}  My pathetic assumption was that Ben Bernanke would deploy further QE only to stave off DEFLATION, not to create INFLATION. If the Federal Open Market Committee cannot see the difference, God help America.
[13:46] {Threei}
[13:48] {Threei}  oh yes
[13:48] {Threei}  TV apparance
[13:48] {Threei}  I missed that
[13:57] {dino} isln to .39
[13:58] {Threei}  RIG 1:1
[13:58] {dino} skx to .69
[13:58] {dino} out, revrse skx .71, +.22
[13:59] {dino} out isln big slip ave .35, +.14
[14:03] {Threei}  anyone went for RIG or for HRBN?
[14:04] {dino} n
[14:09] {dino} hsp
[14:09] {dino} tga approval austrailia
[14:10] {dino} 24$ m sales projected
[14:12] {dino} sm s .06
[14:17] {dino} too soon stop
[14:18] {RonS} 4.2 mil sh short...hsp
[14:22] {dino} sm s .69
[14:22] {dino} cov .29
[14:31] {dino} veco l .49
[14:44] {dino} veco to .65
[14:44] {dino} out ave .63, +.14
[14:45] {dino} fin to .19
[14:45] {dino} finl
[14:45] {jfjf64} vol lvs
[14:55] {dino} out fil +.10
[14:55] {dino} finl i mean
[14:59] {Threei}  full recovery DNDN
[14:59] {Threei}  heh... morons
[15:01] {jfjf64} 3i
[15:01] {jfjf64} when new  book  coming out
[15:01] {Threei}  my perception is it's 80% ready
[15:02] {Threei}  and I push harder
[15:02] {Threei}  to get it done as soon as I can
[15:02] {jfjf64} great
[15:02] {jfjf64} look foward
[15:02] {Threei}  at the same time, it's not something I want to rush for exit
[15:02] {Threei}  I perceive it as most important of my writings
[15:03] {Threei}  so, I will make sure it's finished to my satisfaction, not to get it out the door
[15:03] {jfjf64} you  must  be exited
[15:03] {jfjf64} take ya  time
[15:04] {Threei}  I am... what I see as I re-read parts written earlier make me feel "sheesh, I wish I read it when I started trading"
[15:04] {jfjf64} dont  forget  to  mention jf in book
[15:04] {jfjf64} lol
[15:04] {Threei}  in what role?
[15:05] {Threei}  just want tpo make sure your expectations are met {G}
[15:05] {jfjf64} role  of being such  great mentor to  room
[15:05] {jfjf64} i will send ya  photo  also
[15:06] {Threei}  suit and tie are NOT optional
[15:06] {jfjf64} lol
[15:06] {Threei}  tutu on the other hand is
[15:07] {dino} all bow to jf
[15:07] {jfjf64} all kiddin  aside  look  foward  enjoy  your writings
[15:07] {jfjf64} ty  dino
[15:07] {dino} :D
[15:07] {jfjf64} you  have  my  address
[15:07] {jfjf64} ill be  waiting  4  my  copy
[15:08] {jfjf64} you  cd  write  somethin  nice  in  it
[15:08] {jfjf64} mgm
[15:09] {Threei}  I believe it's going to be online
[15:09] {Threei}  not hard copy
[15:10] {jfjf64} aig
[15:11] {jfjf64} lookin  at  that  37.00  break  earlier
[15:11] {jfjf64} look  vol  was  coming  in
[15:24] {dino} finl l .11
[15:27] {daviddrosenfeld} In finl .11
[15:27] {Threei}  JPM Reportedly to move prop traders to asset management unit
[15:27] {Threei}  - Move to affect equity, emerging markets, structured credit units within the investment banking arm.
[15:27] {Threei}  ***Reminder: On 08/31 there were reports that JP Morgan was planning to close all prop desk operations, starting with 20 person commodity prop desk in London
[15:28] {Threei}  I am beyond lost
[15:28] {Threei}  they can't have prop desk anymore,
[15:28] {Threei}  they spin it off into separate unit
[15:28] {Threei}  so what?
[15:28] {Threei}  how is it changing anything for anyone?
[15:29] {dino} its not, but its all politics
[15:30] {Threei}  in russian it calls "soaping one's eyes"
[15:30] {RonS} wonder I am crying...
[15:31] {RonS} so, this is becoming a real question:  where has the volume gone in this market?
[15:31] {dino} csgs drop
[15:31] {Threei}  even more interesting:
[15:32] {dino} gap around 17.75
[15:32] {Threei}  volume is lower but market is more readable
[15:32] {jfjf64} lvs  drop
[15:32] {Threei}  I have one suggestion what can cause this paradox
[15:33] {dino} the volume is all in bonds, when they start to fall stock vol should go up, imo
[15:33] {Threei}  just a theory though, I have no evidence either way:
[15:33] {Threei}  actual players are back, and market readability increased thanks to them,
[15:34] {Threei}  all kinds on programs, black boxes and HFT are down in volume, for various reasons not the last of which is authorities cracking down on them
[15:34] {Threei}  so volume is down a bit, but that volume was never relevant to direction
[15:35] {dino} vol. follows the most recent bubbles, imo, stock bubble, re bubble, now bond bubble
[15:35] {Threei}  so this volume drop doesn't influence us
[15:35] {Threei}  yes dino
[15:35] {Threei}  I am trying to decipher readability side
[15:36] {RonS} makes sense I guess, the JEF earnings report had trading earnings down 90%
[15:37] {RonS} ...not their prop from others...
[15:39] {jfjf64} lkin  bounce  here  lvs
[15:40] {Threei}  no
[15:40] {Threei}  very high chance of dropping under 35
[15:46] {Threei}  how about that
[15:46] {jfjf64} caught  it
[15:46] {Threei}  I just prepared call for .20 break short
[15:46] {jfjf64} ye  haa
[15:46] {Threei}  and it dropped faster than I could hit enter
[15:46] {jfjf64} in .21
[15:46] {jfjf64} out .07
[15:46] {jfjf64} wow
[15:47] {Threei}  :)
[15:47] {daviddrosenfeld} Dino finl?
[15:49] {dino} still in
[15:50] {daviddrosenfeld} Overnite finl?
[15:50] {dino} nope
[15:52] {dino} isln l .10
[15:54] {jfjf64} who  said  lvs  35.00
06[15:54] * Threei humbly raises his hand
[15:56] {jfjf64} recross .05
[15:56] {Threei}  you aware of time?
[15:56] {Threei}  4 min till bell
06[15:56] * Threei slaps jfjf64 around a bit with a large wall clock
[15:56] {jfjf64} lol
[15:56] {jfjf64} done  4  day
[15:57] {jfjf64} nice  day  at  office
[15:57] {dino} gj
[15:59] {Threei}  thank you all
[15:59] {Threei}  have a goof evening
[15:59] {Threei}  see you tomrrow
[15:59] {jfjf64} are ya ready  4 some football
[15:59] {jfjf64} monday night
[16:00] {Threei}  some scotch I am ready for
[16:00] {dino} out isln +.02 at .12
[16:00] {Threei}  or will be soon
[16:00] {dino} out finl .11 flat
[16:00] {jfjf64} 100 pecent 3i
[16:00] {Threei}  I mean Glenlivet is your friend - always :)
[16:00] {jfjf64} we earned it  today
[16:03] {dino} ouch mtb
[16:04] {dino} thx all