Friday, November 26, 2010

Nov 26 2010

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As expected, uneventful day, with some nice wins under the belt.

Some setups are so obvious, no annotation is needed on the chart. This one is total classic, as cookie-cutter as they get. I'll just put arrows, lines and numbers on the chart, and you assign direction, trigger and stop to it, to practice structuring the trade. Don't hesitate to ask if any questions arise.

Session Start: Fri Nov 26 08:22:57 2010
Session Ident: #discussions
[08:22] * Now talking in #discussions
01[08:37] {Threei}  (SP) Spain's Fin Min Salgado: Reiterates debt level remains low (related EWP EUR/USD EUR/GBP EUR/JPY SOVRX BUNDS )
01[08:45] {Threei}  wow...
[08:52] {jfjf64} mornin
01[08:52] {Threei}  hey jf
[08:55] {jfjf64} FEELS  LK  SATURDAY
01[08:56] {Threei}  lol
[08:56] {RonS} gm...feels like Monday
01[08:56] {Threei}  OK, I am game: feels like Sunday
[08:56] {jfjf64} mornin  rs
[08:57] {RonS} hehe
[08:57] {RonS} back atcha jf
[08:58] {RonS} how's the weather 3i...feels like winter?
01[08:58] {Threei}  did for a day
[08:59] {jfjf64} not bad  here
01[08:59] {Threei}  now back to norm
[08:59] {jfjf64} 45-50 today
01[09:00] {Threei}  same here
[09:00] {RonS} going to be 55 here but 28 now...
[09:00] {jfjf64} ?? rs
01[09:00] {Threei}  Al Gore, where are you
[09:01] {davd} cold and rainy here in nyc
[09:01] {RonS} co has 30 degree temp swings daily quite often...sometimes 50 and i have seen 70
[09:01] {jfjf64} yup
[09:02] {RonS} side benefit it that it murders inscets so very few here
[09:03] {RonS} is that
[09:04] {RonS} hey dave, my daughter lives in e greewich village...
[09:05] {davd} cool place.
[09:05] {RonS} teaches hs in harlem
01[09:05] {Threei}  davd, dino :)
[09:05] {jfjf64} nice
[09:05] {davd} that's a long commute
[09:05] {RonS} express sub so not bad, 25 min
[09:09] {dino} gm all
01[09:10] {Threei}  dino
[09:11] {dino} 32 and rainy in ne pa
[09:11] {RonS} that sodastream stock is worse than the dang keurig gmcr...i will never understand these fad stocks...
[09:11] {RonS} soda
01[09:11] {Threei}  look that clip I posted above guys
01[09:11] {Threei}  and listen to the soundtrack at the end
[09:12] {RonS} reost pls...cannot see
[09:12] {RonS} repost
01[09:12] {Threei}  sounds eerily familar to people with Soviet past
01[09:12] {Threei}
[09:16] {dino} db
[09:17] {Les} morning all
01[09:17] {Threei}  les :)
[09:18] {Les} curious enough as to this days ending as to come to work
[09:19] {Les} small CSCO bounce
[09:24] {ese} morning
[09:24] {ese} almost didn't get up......
01[09:24] {Threei}  lol ese
01[09:26] {Threei}  ese, see UUP?
01[09:26] {Threei}  23 break that we discussed
[09:27] {Les} got it onscreen now. was thinking about 23.50 target
01[09:28] {Threei}  if Euro collapses, there is no telling how high it goes
01[09:29] {Threei}  problem is though, these things have highly unpredicatble timing
[09:29] {ese} ahhhh have now got my coffee
[09:29] {ese} yup  can see it
[09:29] {Les} looking at $ strengthening against several Asia currencies. traders coming home to mama
01[09:30] {Threei}  they'd do well killing loonie while at it
[09:31] {Les} no preference on your behalf hey vad? :)
01[09:31] {Threei}  lol
[09:32] {RonS} cree
01[09:32] {Threei} Short Setup: LVS  .30 break
01[09:32] {Threei}  half lot
01[09:33] {Threei}  invalidated
01[09:34] {Threei}  .40 break
01[09:34] {Threei}  short
01[09:34] {Threei}  half lot
01[09:34] {Threei}  if stays under .45
01[09:34] {Threei}  nah
[09:35] {ese} L zion .37
[09:35] {dino} us banks hold well
01[09:36] {Threei}  lol, LVS did work after all
01[09:36] {Threei}  tried to be cute .45 instead of .50
[09:36] {jfjf64} i will ty
[09:37] {jfjf64} ty
[09:37] {jfjf64} half  lot
[09:37] {jfjf64} opened it up  little
01[09:37] {Threei}  good idea
[09:38] {jfjf64} learned  from  the  best
[09:38] {jfjf64} lol
01[09:38] {Threei} Long Setup:  RIMM  .20
01[09:38] {Threei}  half lot
01[09:38] {Threei}  ugh... too fast
[09:38] {jfjf64} very
01[09:38] {Threei}  see if gives second chance
[09:39] {dino} v sm l .51
[09:40] {RonS} zion sm l .35
01[09:40] {Threei}  yeah right says RIMM
[09:43] {dino} itri sm l .46 thin wide
[09:43] {ese} this should pop up zion then i'm outta there
[09:44] {dino} db sm l .40
01[09:44] {Threei}  got RIMM .20
01[09:44] {Threei}  out .40
01[09:44] {Threei}  amazing second chance gift
01[09:45] {Threei} Long Setup:  X  47
01[09:45] {Threei}  half lot
01[09:46] {Threei}  in validated but let's try it differently
01[09:46] {Threei}  .90 break
01[09:46] {Threei}  if stays above .80
01[09:47] {Threei}  aggressive
[09:47] {ese} whoever the H is selling zion at .47.........stop that
01[09:47] {Threei}  come on X
01[09:48] {Threei}  no
[09:48] {dino} lol
[09:51] {ese} wha should we do with this sloth ron?
01[09:51] {Threei}  hey
[09:52] {ese} not you vad
01[09:52] {Threei}  oh
[09:52] {ese} the stock man the stocfk
[09:52] {RonS} i'm holding things are trending up
[09:52] {ese} stock
01[09:52] {Threei}  grrr X
[09:52] {ese} ahhhhh.....yes i see that now
[09:54] {jfjf64} m   bounce
[09:54] {jfjf64} ??
[09:54] {RonS} they has a parade
[09:54] {RonS} had
01[09:55] {Threei}  X again
[09:56] {jfjf64} 47
01[09:56] {Threei}  not sure which kind of entry... probably 47 again
01[09:57] {Threei}  with stop under .90
01[09:57] {Threei}  now need markert to reverse back up and send it rocketing
01[09:57] {Threei}  1:1
01[09:58] {Threei}  should do more
01[09:58] {Threei}  half out .15
[09:58] {jfjf64} ty
01[09:58] {Threei}  yw
01[09:58] {Threei}  stop to under 47
01[09:58] {Threei}  1:2
[10:00] {jfjf64} go  x
[10:00] {ese} go zion
01[10:01] {Threei}  out in full
01[10:01] {Threei}  +.35
[10:01] {RonS} run u mormons run
[10:01] {Les} beautiful
[10:01] {ese} morons?
[10:01] {jfjf64} good  job  3i
[10:02] {dino}  run forest run
[10:04] {jfjf64} x
[10:04] {jfjf64} catch  of  day
[10:04] {jfjf64} so  far
[10:04] {jfjf64} lol
[10:04] {ese} auch du miya....move it move it
[10:07] {RonS} zion wanted .55, took .52  +.17 decent idea ese...thanks
[10:07] {ese} stop to .41 zion
[10:08] {ese} not doing anything exciting am gonna let it run and see what turns up
01[10:08] {Threei}  amazingly clean setup
01[10:08] {Threei}  classic
[10:08] {dino} db to flat
01[10:08] {Threei}  textbook
[10:09] {ese} you talkin about ron and I.......why thank you..................not
01[10:10] {Threei}  no, X
[10:15] {dino} itri to .79
[10:19] {dino} out itri .78, +.32
[10:21] {RonS} gj
01[10:21] {Threei}  nice
[10:22] {dino} ty
[10:27] {ese} yup....thata be a good un there dino
[10:28] {dino} thx
[10:29] {ese} what time do the markets close today
01[10:30] {Threei}  1pm EST
01[10:30] {Threei}  10 am for us
[10:30] {ese} tks
[10:30] {RonS} ...just in time for brunch
[10:32] {dino} db out +.05\
[10:33] {dino} mee sm l .35
[10:33] {ese} every little bit counts
[10:33] {RonS} nemo out so no German salutation dino...
[10:34] {dino} ahh
[10:35] {ese} de do de day...keep it goin
[10:36] {ese} this is starting to look like an actual stock trade
[10:36] {ese} that would be a higher low it's just created
[10:38] {ese} what time is that in cow town by the way ron?
[10:38] {ese} are you on the same time frame as us
[10:38] {RonS} 8:37
[10:38] {ese} or an hour ahead
[10:39] {RonS} hour ahead...looking forward to the waft of sterr dung meanders from the stock show...
[10:39] {RonS} steer
[10:40] {ese} lol
[10:40] {RonS} great event nonetheless
[10:41] {ese} I used to live on woodbine ave in the southwest......1 year then moved here
[10:42] {RonS} rodeos, riding competition...but my fave is the team horse pulling exhibition
[10:43] {ese} or was that blvd......
[10:43] {ese} that sport is dangerous.....dem dare wagons tip big time easy
[10:43] {RonS} these guys have full stage coaches w/ the teams that they can back up and parallel park to demonstrate what the teamsters used to do in the big cities
[10:44] {ese} cool
[10:47] {ese} do you favorite golf course was pridis greens....they held an LPGA event there 2 years ago
[10:49] {RonS} the horse jumping is awesome as well...powerful animals...
01[10:49] {Threei}  let me show you gents why this country manufacturing is doomed
[10:49] {ese} please do
01[10:49] {Threei}  have a look at this little accessory for the photocamera:
01[10:50] {Threei}
01[10:50] {Threei}  see the price plus shipping?
01[10:50] {Threei}  now look at this:
01[10:50] {Threei}
[10:51] {RonS} ...but's a Gary Fong!
01[10:51] {Threei}  not only the item itself is $2 vs $20, but shipping from China is 70 cents vs $3+ from neighboring US
01[10:52] {Threei}  gary can fong himself as far as I am concerned, but I am not paying 20 bucks for the little piece of plastic
[10:52] {ese} hmmmmmmmm
[10:52] {RonS} but hey, you have to buy a container's worth...what is tah?...650,000?
[10:52] {RonS} that
01[10:53] {Threei}  hmm?
[10:55] {RonS} remeber one time, i bought a container of microwave ovens...1200
[10:55] {RonS} cracking that baby open was exciting
[10:56] {RonS} flet so stupid...made the purchase on the price, amnufacturer's rep and terms
[10:56] {RonS} boxes came in with four color beautiful desig
[10:57] {RonS} had never even asked about it...
[10:57] {ese} stopped zion .42 +.05
[10:57] {ese} ahhh well
[10:58] {RonS} funai was the vendor...has been a sears oem for 10 years...when it hit the floor my salespeople sai: "what is this funny sh%t?
[11:00] {RonS} ya know, when microwave ovens were introduce they retailed for $ $39...unbelievable
01[11:01] {Threei}  remember DVD players introductory price?
[11:01] {davd} magellan was selling for $1,250 or so in 2005
[11:01] {RonS} can't remeber dvd's but cd palyers intro'd at $1000
01[11:02] {Threei}  DVDs were around 600-800
[11:02] {RonS} i remember selling 1 hour sony betamaxes for $1200
[11:03] {Les} I'm still waiting for Blue Ray to come to me in price terms
[11:03] {Les} 42 inch screens almost interesting now
[11:03] {RonS} jees Les they are $79 here
[11:04] {davd} blue ray (anything non-streaming video) will come to you price wise.
[11:04] {Les} you don't live in Switzerland man
[11:04] {RonS} u can get a 42 now for $599
[11:04] {Les} producers still think we're rich schmucks that can pay more
[11:04] {Les} almost that price now Ron
[11:04] {RonS} vat fups u up
01[11:05] {Threei}  blue ray??
01[11:05] {Threei}  IMO, skip it
01[11:05] {Threei}  stillborn technology
01[11:05] {Threei}  will be obsolete in no time
[11:05] {RonS} nah 3i, blue is the bomb...
[11:06] {RonS} what will replace it...i am no longer close to the biz...
01[11:06] {Threei}  streaming video
01[11:06] {Threei}  online
[11:06] {RonS} well...that's fine...and different...
01[11:06] {Threei}  box connected to internet
01[11:07] {Threei}  everything at your disposal, from videolibrary to online videos
[11:07] {RonS} culturally, there is a huge market of pack rats...
[11:07] {Les} I buy dvd's vad so missus can have english subtitles
01[11:07] {Threei}  and if you do have an actual physical disk, just pop it into that same box
01[11:08] {Threei}  they are in online videos just well, Les...
01[11:08] {Threei}  "closed caption"
[11:08] {Les} I dunno. I suspect internet capacity is going to be saturated at some point....
[11:08] {RonS} ya, haven't u seen that guy in the cormer, signing?
[11:09] {RonS} nah Les, fiber optics and the advancement of compression technology virtually makes it limitless
[11:10] {RonS} dino target mee, it seems pretty bound today?
[11:10] {dino} .80
[11:10] {RonS} in at .35 sm
[11:10] {Les} well if someone were to set up blu ray capacity downloads here in Switzerland, I wouldn't be buying
[11:10] {Les} but offer pretty limited here
[11:11] {RonS} once they have yodeling the Swiss will accomodate...
[11:11] {RonS} :D
[11:12] {Les} humbug
01[11:12] {Threei}  so how much do those blue ray players cost in your neck of the woods, les?
[11:13] {Les} bout $130
[11:13] {Les} but I'm half thinking of new pc
[11:13] {Les} with blu ray
[11:13] {Les} skip the seperate player
01[11:14] {Threei}  there you go
01[11:14] {Threei}  now you are talking
01[11:14] {Threei}  will be future proof
01[11:14] {Threei}  as streaming video becomes norm
[11:15] {dino} veco sm l break .40
[11:15] {Les} HP dominant seller here. still about 1500 CHF. not interested while this pc works
[11:15] {RonS} nemo just channeled me:  "sounds like half thinking"
[11:16] {RonS} anyone have one of those streamers?
[11:17] {RonS} dave?
[11:19] {RonS} why do i feel like jf?
[11:19] {davd} no, i'm a netflix guy - skipping the hardware
[11:19] {jfjf64} rs
[11:19] {jfjf64} ??
[11:19] {ese} speaking of daily high
[11:19] {RonS} u ask q's and noone responds...
[11:19] {jfjf64} ahh
[11:19] {jfjf64} lol
[11:20] {dino} lol
[11:22] {dino} hsft
[11:22] {dino} thin
[11:26] {dino} veco sm l .14
[11:29] {RonS} appears the cmg turkey burrito is a hit...
[11:34] {Les} oh that is one stock I wanna short....
[11:34] {Les} cmg
[11:34] {Les} when the time comes
[11:35] {RonS} p/e only 50...wait 'till 100 i guess...
[11:36] {RonS} those Denver area conceived eateries always blow up sometime...remember Boston Chicken?
[11:36] {Les} ended up kentucky fried?
[11:37] {dino} think mcd bgt them
[11:37] {Les} outta here. enjoy your weekend everybody
[11:37] {dino} cya les
01[11:37] {Threei}  take care les, have a good one
[11:37] {RonS} hottest stock on the board during the dotcom boom...went bk
[11:37] {RonS} cya les
[11:39] {RonS} dino, mcd bought them and then spun them out...
[11:39] {RonS} cmg
[11:40] {RonS}
[11:43] {RonS} funny thing about cmg is that Qdoba which is a division of JACK has better stuff but is not near as popular
[11:43] {RonS} nation of fatties i guess who prefer a rice filled gut bomb...
[11:43] {dino} lol
[11:50] {RonS} headline of the day (whodathunk?): So Korea index shows bearish chart
01[11:51] {Threei}  hmm
[11:51] {dino} it's another ploy for cash by n korea
01[11:51] {Threei}  why would it... can't think of any valid reason
[11:52] {RonS} Kim il Jung in Team America: "Hans Brix, you bust my balls."
[11:53] {RonS} Hans Blix:  "I'm going to send you a really, really nasty letter..."
[12:03] {RonS} the paint dry yet?
01[12:03] {Threei}  about
[12:03] {RonS} figured
[12:10] {dino} .
[12:13] {ese} am outta here/
[12:14] {ese} not doin much have a great weekend
01[12:14] {Threei}  you too ese
[12:15] {RonS} cya ese
[12:15] {dino} cya es
01[12:18] {Threei}  (EU) EU's Juncker: Steps undertaken by Spain and Portugal are enough to prevent contagion in the EU (related EUR/GBP EUR/USD BUNDS )
[12:19] {dino} where have we heard that before, lol
01[12:19] {Threei}  :)
01[12:19] {Threei}  you watched that videoclip dino?
[12:19] {RonS} English transaltion of juncker:  wishful thinker
[12:19] {dino} no
01[12:19] {Threei}  spend 3 min
01[12:19] {Threei}  you'll enjoy it
01[12:20] {Threei}
[12:21] {dino} bah
[12:21] {dino} too fast
[12:24] {RonS} said the sheep about the wolf?
[12:25] {RonS} great speech 3i...
01[12:25] {Threei}  quite
[12:36] {RonS} mee games dino...someone trying to fool small guys into selling by showing big offers
[12:38] {dino} yes
[12:40] {dino} v to b/e
[12:43] {dino} out v +.04
[12:52] {dino} out mee .50, +.15
[12:54] {RonS} out mee .52 +.17
[12:55] {dino} gj
[12:55] {RonS} coupla hunskies here for today...ok for such a day
[12:56] {RonS} anyway, have a good weekend all  ;)
[12:56] {dino} you too ron
[13:00] {dino} out veco -.06
[13:01] {dino} outta here until wednesday, take care all
01[13:04] {Threei}  thank you all
01[13:04] {Threei}  have a good weekend, see you all on Monday