Tuesday, November 30, 2010

Nov 30 2010

ATTENTION: A Taoist Trader Online Course is now available: http://www.realitytrader.com/taoisttrader.html

Not a stellar day, with some wins, some stops. Something was off today as we were rinsed a few too many times. Catch of the Day was good though:

X was an attractive play as its range tightened, promising an explosion coming. The question though was - which way? Break of .60 support or .80 resistance? The problem is, when such break occurs, it's often near impossible to get your shares, as action becomes fast and furious. Looking for aggressive entry (see http://blog.realitytrader.com/2007/07/how-aggressive-are-you.html for explanation) I decided on a long side. One of important factors placing odds on an upward direction was series of candles with downward tails. They signified good support, as buyers managed to close each of them at the high. We took .70 long entry with .55 stop. Chart tells the rest of the story.

Session Time: Tue Nov 30 00:00:00 2010

[08:31] mornin
01[08:31]  jf :)
01[08:38]  EUR/USD Euro hits fresh 10-week lows below 1.2980
01[08:41]  (US) Nov Intuit Small Business Employment Index +0.24% v +0.22% m/m
01[08:41]  - The Nov employment growth index translates to approximately 49,000 new jobs created nationwide.
01[08:43]  DNDN Wedbush Morgan Initiates DNDN with Neutral, price target: $39
[08:52] morning
01[08:52]  Les :)
[08:52] can't connect to realitytrader
[08:52] so in MIRC
[08:53] how do I put in that time stamp in MIRC vad?
01[08:53]  right click on the button with channel name
[08:54] found it ty
01[08:54]  this is my recipe for finding aanything
01[08:54]  right vlivk and look in the drop down menu
01[08:54]  9 out 10 it's there :)
01[08:55]  vlivk is click of course
[08:55] will remember to ask you to remind me next time...
01[08:58]  (US) Preview: Q3 and Sept S&P/CaseShiller Home Price Index expected out at 09:00 ET
01[08:58]  **Consensus expectations:
01[08:58]  - Sept Composite-20 y/y expected at -0.4% v -0.28% prior
01[09:04]  *(US) SEPT S&P/CASESHILLER-20 Y/Y: -0.8% V 1.0%E; HOME PRICE INDEX: 147.49 V 148.59 PRIOR
01[09:05]  GM CEO: demand for the Volt looks good - CNBC interview
[09:05] Good Morning All:)
01[09:05]  have expressions of interest for about 100K units so far
01[09:07]  harth :)
[09:08] <_ctrade101> gm all
01[09:08]  ctrade :)
[09:09] gm all...or should I say all own gm...isn't that 100k no. the same that the guvmint said they would buy?
01[09:09]  Ron :)
01[09:09]  hmmm... now that you said that
[09:10] I thought GE was big buyer as well...
01[09:10]  maybe this is the solution for job crisis?
[09:11] what are they going to do with them...they long ago stopped poviding vehicles for their salespeople, etc
01[09:11]  get two huge companies,
01[09:11]  make them buy eaach other product
[09:11] morning
01[09:11]  no public money for bailouts, plenty jobs
01[09:11]  ese :)
[09:11] it's beer time here ese
[09:11] central planning 3i...back to the future...
01[09:12]  yup
01[09:12]  we all know how well it works
[09:12] see ya in a couple of minutes
01[09:12]  promise of no more crises caused by market fluctuations fulfilled by replacing all those crises with one total collapse
01[09:13]  lol Les, I think you made ese jump for the beer
[09:14] and collapse would still be free markets fault...
01[09:14]  see? great solution all around
[09:15] reminds me of donkey in Shrek... "everyone running around trying  to hit me yelling PINYATA PINYATA"
[09:17] gm :)
[09:17] <_ctrade101> hey les can you tell me how cents should be my stop from my entry
[09:18] <_ctrade101> how many cents>>>>
01[09:18]  larisa :)
[09:18] ?
01[09:18]  EUR/USD Dealers noting of vague chatter 'refusing' Euro names in swap markets
01[09:18]  wrong approach ctrade
[09:18] speak to the man C
01[09:18]  stop placement is done differently, not by pure cents amount
01[09:18]  read this please:
01[09:19]  http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[09:19] <_ctrade101> okay ... thanks
01[09:20]  also, for more on our traduing approach, spend an evening going over http://blog.realitytrader.com/2009/12/blog-summary.html
[09:20] Hey HEY!
[09:20] oops
01[09:20]  lay off that coffee
01[09:20]  or beer
01[09:21]  or both
[09:21] you have a plan for opening vad?
01[09:22]  not really
01[09:22]  will just watch usual suspects for a setup
01[09:23]  where is dino, gap down days... his pond
[09:23] his mama didn't deliver note?
01[09:23]  nope
[09:23] good morning all
01[09:23]  stewy :)
[09:23] dino and mags.......must be hunting
01[09:23]  take a quick look at a few new ones folks: http://photography.realitytrader.com/
[09:24] gm all
[09:24] great...a degenerate cartoon character
01[09:24]  davd :)
01[09:24]  hey, that's my favorte
[09:24] the breakwater........nice vad
[09:24] davd, stewy or nemo?
[09:24] I'm not surprised
01[09:24]  child with british accent and dream of world domination
[09:24] NICE
[09:25] very nice 3i
01[09:25]  ty
[09:25] I grabbed a pair of great tits this morning
01[09:26]  hmmm
[09:26] http://en.wikipedia.org/wiki/Great_Tit
[09:26] huh
01[09:26]  congratulations of course...
[09:26] that a boy  les
[09:26] put up a bird feeder for this sudden freeze
[09:26] rotflol......
[09:26] these little beauties show up
[09:26] nice one les.....had me goin
[09:27] gorgeous bird Les...thanks
[09:27] makes for a great opening in conversation...
[09:28] does it ever
[09:28] here for the sixty day trial as a stewdent
[09:28] nice photo, but no more upload feature
[09:28] cute
06[09:29] * Les slaps stewy around with a bad sense of humour
[09:29] must have been a real lady killer at the bar Les
01[09:29]  stewy... please remember, in this room I have total monopoly on bad jokes
[09:29] ah, initiation!
[09:29] indeed indeed
01[09:29]  you are allowed to make good ones only
[09:29] and their off!!1
[09:30] well, your opening is better than one guy I remember stewy
01[09:31]  Preview: Nov Chicago Purchasing Managers Index due out at 09:45ET
01[09:31] Short Setup: LVS  .70 break
01[09:31]  half lot
01[09:31]  invalidated for now
[09:32] L rimm .21
01[09:32]  RIMM, watching for pullback for long entry
01[09:32]  wow ese..that's a whole lot of chasing
01[09:32]  60 cents spike
[09:32] out .29
[09:32] yea with resistance at .30
[09:33] click click
[09:33] in out
01[09:33]  have a look at its drop
01[09:33]  that was your risk to get caught in
[09:33] yup
[09:33] don't try this at home
[09:33] +.08
[09:34] thought i was gonna get out in the .30's but it was too fast
[09:34] L rimm .11
[09:34] ut .24
[09:35] out 
[09:35] +.13
01[09:35] Long Setup:  LVS  .10 break
01[09:35]  if stays above 58
01[09:35]  50
01[09:36]  no go
01[09:38]  rinse
01[09:38]  grr
[09:38] L rimm 1/2 .31
01[09:38]  lol, what happened to "I hate RIMM"
[09:39] thank Jeffries?
[09:39] took a look at the daily
01[09:39]  what's with ENMD
[09:40] Chi pmi early release in 2 minutes
[09:40] stop .00
[09:40] gonna let it trade
[09:41] careful spy at support
01[09:41]  LVS, watching for take two
[09:41] am just lookin at that nemo
[09:41] spy broke low
01[09:41]  on second though, let's let numbers pass
[09:42] am risking those first 2 trades basically
[09:44] L another 1/2 avg .27
01[09:44]  LVS totally got away
01[09:45]  PMI 62.5 vs 59.9E
[09:45] no surprise there
01[09:46]  RIMM treats you well ese
[09:46] am gonna take it out rimm .73 
01[09:46]  wtg
01[09:47]  first entry was out of whack, IMO... the rest are valid plays
[09:47] tks +.66
[09:47] wow look at it go
[09:48] those of you that are new to the board.......this is not the trading method we usually do....those first 2 trades were extremely risky....need to have a quick trigger finger
[09:49] and a beer under the belt...
[09:49] yup
01[09:49]  (US) Preview: Nov Consumer Confidence due out at 10:00E
01[09:49]  **Consensus expectation: 53.0e v 50.2 prior
01[09:50] Long Setup:  X  .70 break
01[09:50]  half lot
[09:50] that's a 50/50
01[09:50]  stop for scalpers aunder .60, day traders under .55
01[09:51]  aggressive entry, not a scalp for me
01[09:51]  IMF's Lipsky: The threat to the euro is wildly exaggerated
01[09:52]  is this what they call lipsky service?
[09:52] stop that
[09:52] luv it
01[09:53]  believes the euro is solidly valued at the appropriate level
01[09:53]  sure
01[09:53]  at zero
[09:55] wedge
[09:55] x
06[09:55] * Threei kicks X in the rear
[09:55] break  the wall dn  3i
01[09:55]  scalpers 1:1
01[09:55]  day traders 1:1
01[09:56]  half out .88
01[09:56]  1:2
01[09:56]  your choiuce to exit in full or trail
[09:56] ty
[09:56] out
01[09:56]  if trailing, stop under .80 now
01[09:57]  like a dam broken
01[09:57]  see Taoist Trader course, chapter 8, Water
01[09:57]  1:3
01[09:57]  me out
01[09:57]  +.43
[09:58] nice one
[09:59] entry in the middle of the range, how did you know which way dam will be broken ? or you can control it :)
01[09:59]  of course I can
[09:59] ahha
01[09:59]  it was pretty much bull flag
01[10:00]  volume lower on down bars
01[10:00]  Consumer confidence 54.1 vs 53E
01[10:01]  and almost each bar had the tail to the downside
[10:02] L altr .88
01[10:02]  see those?
01[10:02]  candle I should say
[10:02] so buying pressure is it?...
01[10:02]  good support, yes...
[10:02] k
01[10:03]  tail down means, each time price dipped, buyers came in,
01[10:03]  snapped all they could and closed each candle higher
01[10:03]  not enough for a ytrade by itself of course,
01[10:03]  but look at it in the context of the chart
01[10:03]  as larisa said, it was a toss up between breadown and bounce
01[10:04]  so this piece of mosaic helped put odds on the right side
[10:04] Xman wolverine
[10:04] range as tight as X had, produces usually very good explosion, just never knbow which way, so entry in th middle of the range confused me, dats why i asked
[10:05] stop on altr .68
01[10:09]  true, and I wanted entry in advance, because it was likely to be impossible to catch on explosion itself
[10:10] slw
[10:10] watchin .50 break
[10:11] no pe
01[10:16]  nice ascending triangle jf
[10:16] yup
[10:16] buy on pullback to trend
[10:17] .22
[10:17] L akam
01[10:19] Short Setup: CAT  84 break, half lot
01[10:19]  if stays under .10
[10:20] altr you sloth.....break that .90 resis
01[10:21]  LVS lost its mind
[10:22] gmcr too
[10:22] fcx
[10:22] akam stop .00
01[10:24]  no go CAT
[10:25] altr    bout time too!!
[10:27] akam stop to break even.23
[10:27] bought slw .52 for overnight hold.
[10:27] what a strong market...no amount of bad news can keep it down
[10:27] yeh
[10:27] it's had the crap beat out of it nemo imo
01[10:28]  "it's a bull marker, you know"
[10:28] price of silver breaking out
[10:28] gold up huge
01[10:28]  and notice, dollar is green
[10:28] euro related
[10:29] with alot of "lets sell the ...you know what out of it early to scare people out....then up we go"  manipulation 
01[10:29]  we are approaching that second stage, when they all go up
[10:29] well...
[10:29] everything except the euro
01[10:29]  sure
01[10:29]  I was calling for USD and market to go up together
01[10:29]  Euro is trash
[10:30] t'was a joke vad
[10:30] pretty well worn around here I know
01[10:31]  I don'tr understand anyone's jokes but my own
[10:31] fair enough. it's your house
01[10:31]  nah, I act the same when visit
[10:31] out akam .36
[10:31]  +.14
01[10:31]  it's principled position
01[10:32]  there are my jokes and good jokes, and I don't get good ones
[10:32] lol ok forewarned is forarmed
[10:34] out altr .97
[10:34] +.09
[10:35] that about does it for me today.... 
[10:36] one set drummer, eh?
[10:36] yup
[10:36] :D
[10:36] just over 1k
[10:37] gambled a bit with rimm but it worked out today......wouldn't normally do that
[10:38] carry on all......i'm in watchin mode
01[10:47] Short Setup: GLD  .15 break
01[10:47]  if stays under .25
[10:49] in gld .15 short
01[10:53]  no go
01[10:54]  I am off today, better follow ese
[10:54] out gld stopped
[10:54] hmmmmmm
[10:55] he is off, he's telling good jokes...:)
[10:55] tough act to follow
01[10:56]  rofl
[10:56] lol
[10:59] GM to Export Volt .
[11:00] ...from a Canadian plant to the US?
01[11:00]  lol
[11:00] ...from Mexico?
[11:00] actually the article says to Europe.
[11:01] probably Greece...i mean who over there would be stupid enough to buy this thing?
01[11:01]  so, from Mexico rto Europe?
01[11:01]  and US benefits how?
[11:03] they'd have to rebrand the car
[11:03] no GM here
[11:04] maybe yugogm
[11:04] or...noyugogm
[11:05] actually...instead of Opel...Nopel...
[11:06] ...tending the fireplace?
[11:07] rimm approaching whole number again, this could shape up to jbe
[11:07] frig blew through as typing
01[11:09]  good read though
[11:09] that and $.10 will get me.......
[11:09] ....nuthin'
[11:10] I'm just quietly learning, I learn best when quiet:)
[11:10] then shutup
[11:10] sorry
[11:10] it was right there
[11:10] couldn't help myself
[11:11] oy vay
[11:11] it's all good
01[11:11]  just shows you how we all are different,... when I am quiet it just means I sleep
[11:11] gotta' adjust my meds
[11:12] that's why I'm quiet
[11:12] send me some...
[11:13] can't, that's favoritism
[11:14] ?
[11:14] I'm nobody's favorite
[11:14] favourite whipping boy yeh
[11:14] that's you
[11:15] spy at vwap
[11:19] vwap over how many periods nemo?
[11:19] today by minute
01[11:20]  gentle ears, close tem for a sec
01[11:20]  gotta share this e-mail, sent by a friend from Winnipeg
01[11:20]  who knowss what Winnipeg in the winter is like, will understand
01[11:20]  I get this poem every winter & every winter I love re-reading it.
01[11:20]  It's a beautiful poem and very well written.
01[11:21]  Thought it might be a comfort to you, it was to me.
01[11:21]  Winter in Canada'
01[11:21]  F**k!
01[11:21]  It's cold!
01[11:21]  The End.
[11:21] by Robert Frost
01[11:21]  lol
[11:22] small caps underperforming s&p today and yesterday
[11:22] but ndx the weakest
[11:23] gld
[11:23] and yet rimm is skyrocketting re ndx
[11:24] squeeze caused by ese
01[11:24]  lol
[11:24] :)
01[11:24]  ese has been known to send stocks skywards singlehandedly
[11:25] Fire and Ice

[11:25]   Some say the world will end in fire,
[11:25] Some say in ice.
[11:25] From what I've tasted of desire
[11:25] I hold with those who favor fire.
[11:25] But if it had to perish twice,
[11:25] I think I know enough of hate
[11:25] To say that for destruction ice
[11:25] Is also great
[11:25] And would suffice.
[11:25] Robert Frost 
01[11:26]  Credit default swaps on Portugal's 5-year debt rose to around 575 bps compared to 560 bps a few hours earlier and almost 40 bps above Monday's levels. Even CDS on German debt widened by almost 10 bps compared to yesterday's levels and was hovering near 60bps. Dealers were hearing vague chatter that US banks were refusing euro names in swap markets, although this sort of rumor is usually designed to magnify fears of contagion in extreme markets
01[11:27]  All eyes are now turning toward Thursday's ECB meeting to see whether the ECB will extend bank access to unlimited three-month funds beyond January.
[11:28] I like Vad's peom better
01[11:28]  me too
01[11:28]  laconic is good
01[11:29]  and very expressive
[11:29] ...is that true Les?...just starting at the calendar now?
[11:29] staring
[11:30] spy forming pennant
[11:30] rig exploded
01[11:30]  no news that I see
01[11:31]  worth watching for long entry on pullback
01[11:31]  very risky, not for everyone
01[11:32]  .20 - .30 zone is interesting for entry if gets there
[11:34] in cree .25
[11:34] stop .18
01[11:35]  RIG is there
01[11:35]  in .23
01[11:36]  out .40
01[11:36]  that was nice
01[11:36]  uncharacteristicably predictable
[11:39] missed it cause I blinked
01[11:40]  it was way too fast
[11:40] 1/2 ou .35
01[11:40]  couldn't put official call in
01[11:40]  case where I can alert in advance, and if yuou can read and execute it 0- fine, otherwise stay away
[11:41] 1/4 more .46
[11:42] stop to .50
[11:42] .49
[11:43] 3i, some large bidder has been flashing sizeable bids on lvs. There have been no tests of these bids yet and the response so far hs been to spur shorts to cover.  If and when this seller (as it appears to moe) gets done, LVS could move lower dramatically imo
01[11:43]  what price does he blink?
[11:44] be back hard stop cree
01[11:44]  very nice play nemo
01[11:45]  I don't see hi right now Ron, but the idea sounds right
[11:45] it moves with any .10 to .20 drop
01[11:45]  hi = him
01[11:45]  this is exactly the kind of thinking that maketh a trader
[11:46] ya it is intermittant...happened about 8 times so far...and the response is immediate in his favor so goes away
01[11:49]  it's soul warming when you start seeing these things, eh
01[11:49]  no longer a victim of manipulations, but a cold blooded observer, recognizing them and able to stay safe and even exploit them
01[11:50]  because contrary topopular opinion, a maniopulator is trader's best friend
01[11:50]  imperative word is "trader" - someone who can see the manipulation and use it to his advantage
[11:51] but the macro is unsettled...pomo goes on, EU is crap and 12/1 supposedly statistically strong day
[11:51] jus appeared and tested for first time...took the shares
01[11:57]  market spike
01[11:57]  no news
[11:57] watch fcx
[11:59] tck gone already
01[11:59]  X looks breaky as well
[11:59] lunchtime too...frickin agita
01[12:11]  USD/CNY ECB's Trichet: Cannot confirm whether China is buying euros rather than dollars; 'would have to ask China' that question
[12:17] bet dino woulda' seen pde
[12:17] wll
[12:17] sorry
01[12:18] Short Setup: X  .50 break
01[12:18]  just a scalp most likely
01[12:22]  gosh ASTM
01[12:22]  aall the way back after that rally
01[12:31]  Fed's Kocherlakota: Fed bond buying will have a modest impact on the US economy
01[12:31]  modest good or modest bad?
01[12:31]  believes the Fed can control any inflationary effect of QE2
01[12:31]  uhhu
01[12:32]  because they did such a great job before, right?
01[12:38]  Guess-who is on TV soon, summarizing the meeting with republicans
01[12:38]  aka slurpie summit
[12:51] dems grape reps cherry
01[12:51]  I am afraid to ask what it means
01[12:52]  for some reasin, TSA comes to mind
[12:57] slurpie flavors...
01[12:57]  oh
01[12:58]  lol
[13:01] .
01[13:08]  US President Obama: There was broad agreement among Repubs and Dems that the tax issue should be resolved by year end; Americans 'did not vote for gridlock'
01[13:08]  - Felt meeting with republicans and democrats went well
01[13:09]  actually, americans did vote for gridlock
01[13:10]  (US) US House Speaker Elect Boehner (R): Obama has committed to additional talks on tax cuts with the Office of Management and Budget
01[13:10]  - Republican Senate leader McConnell; there is no particular reason why a deal on a tax cut would not be reached
01[13:10]  - House Republican leader Cantor: Encouraged by meeting with Obama; feels the President will be 'reaching out more'
01[13:14] Short Setup: AKAM  .90 break
01[13:14]  half lot
01[13:15]  if stats under 52
[13:17] cya all tomorrow
01[13:17]  take care ese
[13:17] cya ese
[13:17] cya ese
01[13:17]  nothing works for me anyway
[13:18] vad patience ron 
[13:18] ya me too...gotta teach choir
[13:18] i know you won't be able to do this but my choir is singing at the Bay center friday at 11:00am vad
01[13:19]  well... kind of open maket time :)
[13:19] ya
[13:19] cya
01[13:19]  although if I trade on Friday as I do today, I may be better goijng to that concert, lol
01[13:38]  rinse AKAM
[13:39] <_ctrade101>                      what rinse means???
01[13:40]  hitting stop, then working as intended
01[13:40]  rinsed us out
[13:40] <_ctrade101> okay
01[13:41]  (GE) German Wisemen: Risks to the euro are huge, Germany needs to do more if it wants to keep the euro (related EUR/USD EWG BUNDS )
[13:47] took akam s .92 to .68...bigger stop, bigger target...thx 3i
01[13:47]  yw
[13:49] the nq futures order flow has had 9 lows today...quite unprecedented
[13:50] <_ctrade101> akam is going downnnnnn
[13:51] either to .50 or .40
[13:51] <_ctrade101> to .40
[13:52] meantime rimm pounds higher...lol
01[13:52]  so much for "blackberry is done" eh
[13:53] <_ctrade101> wich direction lvs is going???
01[13:54]  no idea
[13:54] thataway
[14:01] wow, check the put action in X w/ its strength...
[14:01] sure would like to know if those were bought or sold...
[14:07] wow, 24k+ of rimm mar $80 calls bought today
[14:11] rumor...bac target of wikileaks...
01[14:12]  yeah, for a few hours already
01[14:12]  not fresh
[14:15] apparently it is to these new sellers...
[14:15] dino play...
01[14:16]  Faspariono tweeted about it
01[14:16]  Gasparino too
[14:16] Fazparino
01[14:17]  ank of America Corp Fox Buiness's Gasparino tweets that his sources at BAC indicated that they have no information that they are the target of the upcoming Wikileaks release
01[14:17]  - Note: A widely circulated Forbes interview earlier had quoted Wikileaks Editor in Chief Assange as saying his next Wikileaks release may bring down "1 or 2 US banks" given the "tens of thousands of its documents that reveal some sort of unethical behavior,", and in the interview Assange did comment that Wikileaks has not notified the subjects at the heart of the release
01[14:17]  - Reminder: Earlier the Business Insider speculated that BAC was the subject of the upcoming Wikileaks release given Assange's prior comments in 2009 that highlighted a hard drive that had come into his possession that pertained to BAC
[14:17] easy on the whops
[14:17] wops
[14:17] gold ropping
[14:17] dropping also 
01[14:17]  it's contagious davd
01[14:18]  I'd avise 10-15 min each evening in front of mirror, repeating "I do not type as Vad does"
01[14:18]  although frankly... I tried that, didn't work
[14:20] Assange one year ago: " i have a dream...to be a bigger jerk than michael moore..."
01[14:20]  think he is there yet??
[14:21] never seen anyone so sanctimoniously smarmy...
[14:22] obama pelosi reed
[14:22] Ted Turner
[14:22] good one
[14:23] but Ted was a genius in the early days...
[14:24] now is is just an old drunk spouting bs
[14:26] but hey, i can respect that...reminds me of 3i...:O
[14:26] ...just a joke...
01[14:26]  sigh
[14:26] good one
[14:26] bye Ron
[14:26] lol
[14:27] tck fcx at 200
[14:27] bac lod
01[14:28]  GS...
01[14:28]  maybe a better short cadidate on this hoopla
[14:29] would not wikileaking GS be like leaking the Mob?
[14:29] he be ded mofo
[14:29] watch for spy bounce vwap
[14:29] not him, the leaker...
01[14:29]  I don't mean that GS is a wikileak's target
01[14:30]  this wave affecting the sector as a whiole, and uncertainty taints all big names
01[14:30]  BAC dropped 5 cents while GS 25
[14:37] what is causing this 30 minute selling?
01[14:37]  most likely this wikileaks thingy
[14:39] bounce time
[14:42] good day, all. see you in the morn. 
01[14:42]  take care stewy
01[14:42]  GS nice slide
[14:44] stew's gone cold
[14:45] well I thought that was funny
[14:46] akm
01[14:47]  actually yes Les
01[14:48]  but I have to maintain reputation of not laughing at anyone else's jokes
[14:48] sigh
[14:49] strange 5 min chart silver futures
[14:49] http://www.finviz.com/futures_charts.ashx?t=SI&p=m5
[14:49] like the POMO tap was turned off
[14:50] silver price just ebbing away
[14:53] crude cliff drop. strange
01[14:55]  it all becomes a bit twisted these days Les, and will be for a nearest while, IMO
01[14:55]  what we are witnessing is serious change in traditional market interrelations
[14:56] permanent change? interventionist change...?
01[14:56]  PMs/currencies/equities/commodities - people got used to cretain relation between all of them -
01[14:56]  well, nothing is permanent
01[14:56]  but what we had over lastr years is in the process of reshaping
01[14:57]  Euro troubles create new angles,
01[14:57]  uncertainty with economic recovery,
01[14:57]  currency wars
01[14:57]  all these things weigh on commoditiess in new ways
01[14:57]  and my feeling is, market hasn't sorted things out yet
01[14:58]  so, some of these vhaartd and reactions start looking weird
01[14:58]  but don't form new patterns yet
01[14:58]  vhaartd?
01[14:58]  what on earth have I tried to type?
01[14:58]  charts
[14:59] it's ok. I understood you
01[14:59]  wow... this is very very alarming
01[14:59]  be careful...
01[14:59]  undergo regular checkups
01[15:00]  some things are still relatively easy to read if you understand main underlying principles,
01[15:00]  as with my favorite example of late, USD strength after QE2 which anyone stufying Taoist Trader would be able to call
01[15:01]  having studied rather
[15:01] stufying... not bad. I like that
01[15:02]  frikin labels on keyboard gone again, typing blindly
[15:04] should be an improvement
06[15:05] * Les smack Nemo with a walking stick for the blind
06[15:06] * nemo slaps Les around a bit with a large bokken
[15:06] who walks around with a frikin sword?
[15:06] improvise, adapt and overcome!
[15:07] just didn't want to get gookies on my hand
[15:10] bac lod
[15:10] bernanke on tv
[15:12] bac 13.5 mil sh traded last 3 minutes
[15:13] http://www.youtube.com/watch?v=Th_zlxmddNY
[15:15] burn baby burn
[15:15] great beat...if you are spastic...
[15:16] so that's why everyone used to make fun of me...
[15:16] fas daily at pivot resistance
[15:17] banks ain't looking so hot
[15:27] i will be away for your birthday vad...not many days now
[15:27] patience dcc
01[15:28]  that's OK, I decided to skip it this year anyway
01[15:37]  look GS
01[15:41]  bounce time soon
01[15:42]  one more leg down
01[15:42]  and bounce from under .50 most likely
01[15:42]  alternatively, .80 break but this one is less attractive to me
01[15:44]  here we go
01[15:44]  in .46
01[15:44]  stop under .35
01[15:44]  half out .60
01[15:44]  stop to under .40
01[15:46]  out 1/4 more
01[15:46]  (PO) S&P places Portugal's ratings on watch negative
01[15:47]  stop to .45
01[15:47]  out last part b/e
01[15:47]  not bad for the last trade of the day
01[15:48]  anyone is still alive or I am talking to myself?
[15:49] I'm here
01[15:49]  okay... let's talk then, the rest can sleep
01[15:49]  how's the weather?
[15:49] me  here
[15:49] terrible 16degrees and wind 27mph
01[15:50]  yikes
[15:50] 16 degrees sounds nice
01[15:50]  if there are three of us, bottle of the scotch is in order
[15:50] I'm on red, but thanks anyway
01[15:50]  16 F, Les
[15:51] still sounds nice
01[15:51]  so not
01[15:51]  it's -10C which is nice only wihtout wind
01[15:52]  with good wind it can feel like -25C easy
[15:52] I can't get temperature conversion for -4 degrees celcius... wait a second
[15:53] 16F shit that is cold
[15:53] it's -2F with the wind chill
[15:53] -8 degrees celcius
[15:53] I shouldn't be bitching then
[15:54] but lots of snow. so skiing with kids is in order soon
01[15:56]  not very happy wioth today's performance, couldn't quite get the rhythm
01[15:56]  catch of the day was good
01[15:56]  look the chart for explanations
01[15:56]  will post it in 10 min
01[15:57]  thank you all meanwhile, have a good evening
01[15:57]  see you tomorrow
[15:57] You too Vad! Have a Good Evening All!