Session Time: Wed Dec 22 00:00:00 2010
[07:44] {magoo} morning
[08:07] {jfjf64} mornin mags
[08:22] {davd} gm all
[08:30] {Threei} (US) Q3 FINAL GDP Q/Q ANNUALIZED: 2.6% V 2.8%E; PERSONAL CONSUMPTION: 2.4% V 2.9%E
[08:31] {Threei} *(US) Q3 FINAL GDP PRICE INDEX: 2.1% V 2.3%E; CORE PCE Q/Q: 0.5% V 0.8%E
[08:40] {RonS} gm guys
[08:40] {Threei} morning
[08:50] {ese} mornin
[08:50] {Threei} ese :)
[08:56] {Threei} (GR) Greece Fin Min Papaconstantinou: Planning to legalize online gambling activities and remove the restrictions against low price machines
[08:56] {Threei} ahhh
[08:56] {Threei} that's how they intend to dig themselves out
[09:00] {stewy} morning LL
[09:00] {Threei} stewy :)
[09:01] {Threei} Euro vs Swiss Franc Swiss Fin Min Widmer-Schlumpf Denies reports that SNB Chief Hildebrand stated the EUR/CHF cross could move sharply lower
[09:01] {stewy} LL = all
[09:04] {dino} gm all
[09:05] {Threei} dino :)
[09:11] {RonS} spidey is tenacious...
[09:12] {ese} spidey?
[09:14] {ese} ahhhhhh.......sorry....the handle trying to get on.........thought you were tlking about S&P spyders
[09:14] {ese} talking
[09:14] {magoo} vad, news WTNY?
[09:14] {davd} that wasnt a bad enough typo to merit a re-type
[09:15] {Threei} merger mags
[09:17] {Threei} no kidding davd... some are such purists
[09:19] {larisa} gm :)
[09:19] {Threei} larisa :)
[09:19] {larisa} :)
[09:19] {jfjf64} mornin all
[09:19] {RonS} birt...interesting move yesterday on volume...could breakout and run
[09:19] {Threei} jf :)
[09:19] {Threei} guys, so we save time later, I want to explain what I want to try to do today
[09:19] {Threei} you noticed of course unusually high percentage of rinses last few days
[09:20] {Threei} so, unless a setup is very clean, I want to:
[09:20] {Threei} 1. let the trigger go,
[09:20] {Threei} 2. wait for a rinsing move under the intended stop,
[09:21] {Threei} 3. enter in setup original direction around the stop level
[09:21] {Threei} clear?
[09:21] {jfjf64} ill speak 4 all
[09:22] {Threei} and?
[09:22] {jfjf64} ya driving boat keep keep us posted
[09:22] {jfjf64} lk ya plan
[09:22] {Threei} this is thin pre-holiday trading, not much happens anyway
[09:23] {Threei} so might just as well adjust on daily basis
[09:23] {Threei} and last thing to do beforer trading day begins:
06[09:23] * Threei slaps magoo around a bit with a large trout
[09:24] {stewy} clear, 3i
[09:24] {Threei} cool
[09:24] {larisa} how do we know if setup you see is clear or not and if you gonna take it on trigger or wait for pullback :) I need coffee for that :)
[09:25] {magoo} unfair advantage, cant slap from mibbit
[09:25] {Threei} I will post larisa, it's not like I will make you guess
[09:25] {RonS} ...would that make it "clear as mud" larisa?
[09:25] {Threei} that's how I like it mags
[09:25] {larisa} :)
[09:28] {magoo} vad..keep eye on NKE
[09:28] {RonS} ...that armh story is pretty interesting
[09:29] {Threei} hood report NKE, huidance seems fine too
[09:29] {Threei} what's the problem
[09:29] {RonS} input cost headwinds
[09:30] {Threei} ah
[09:30] {Threei} ty
[09:30] {ese} now thats the part of the day i understand.....Mags getting slapped around with a trout......that is really clear for me!
[09:30] {magoo} sell the news
[09:31] {Threei} X
[09:31] {Threei} let's see if we get sharp pullback to under .90
[09:31] {Threei} .80 - .85 is target entry zone
[09:32] {ese} damn close
[09:32] {ese} does the word genius apply here
[09:32] {Threei} Long Setup: X .80 break
[09:32] {Threei} if holding .70
[09:32] {Threei} half lot
[09:33] {magoo} in
[09:33] {jfjf64} wow
[09:34] {jfjf64} out
[09:34] {jfjf64} .99
[09:34] {Threei} if you had sell laid out, it would have been hit
[09:34] {Threei} cool
[09:34] {Threei} nice and easy eg
[09:34] {jfjf64} i will ty ty
[09:34] {larisa} nice and easy ? I definetely need coffee :)
[09:36] {Threei} Long Setup: LVS .90 break haLF LOT
[09:36] {Threei} if holding .80
[09:37] {dino} rimm sm l .25
[09:37] {ese} in .91
[09:38] {magoo} nke
[09:38] {Threei} partial at 1:1
[09:38] {jfjf64} out ty
[09:38] {Threei} full?
[09:38] {RonS} took .88 to .98 +.10 thxs 3i
[09:39] {jfjf64} yes
[09:39] {Threei} should be good for more...
[09:39] {Threei} anyway, stop to .85 for second half
[09:40] {Threei} not willing to give it much breathing room
[09:40] {Threei} out
[09:40] {Threei} scalpers win
[09:40] {jfjf64} ty
[09:40] {dino} arg sm l .35
[09:40] {jfjf64} lol
[09:40] {ese} out
[09:40] {ese} .92
[09:40] {ese} wiated too long
[09:41] {Threei} a bit yeah, but good save
[09:41] {Threei} no point in risking in this morning jumpinesas
[09:41] {jfjf64} scalpers envirement
[09:41] {Threei} look X,
[09:41] {Threei} there was a setup earlier at .70,
[09:41] {Threei} watching if it gets rinsed by moving under .55
[09:42] {Threei} wow LVS... nice dump
[09:43] {Threei} .80 break was a short setup but dropped to sharply into it for my taste
[09:43] {Threei} OK, X, quick drop under .50 is interesting for long
[09:44] {Threei} formally .60 break is long but I don't want to play it straight
[09:44] {Threei} here here X... come on, rinse those .60 buyers
[09:44] {jfjf64} .50
[09:49] {dino} msb sm l .05
[09:50] {jfjf64} lvs
[09:50] {Threei} grr... just typed short lvs .40 break
[09:51] {Threei} X 1:1 who went for .50
[09:51] {Threei} see how .60 buyers would have been rinsed and how buying rinse worked?
[09:52] {magoo} yup
[09:52] {jfjf64} anyone see rex ryan video you tube
[09:52] {jfjf64} jets coach
[09:52] {dino} stopped msb, arg
[09:52] {Threei} 1:2, while .60 buyers swear
[09:55] {Threei} let's see if LVS gives us double bottom
[09:55] {Threei} Long Setup: LVS .20 break if stays above .10
[09:56] {jfjf64} jummped
[09:57] {jfjf64} lets go .40
[09:57] {jfjf64} grrrrrrrrrrrr
[09:58] {Threei} (CA) IMF: Consumer debt and low US demand threaten Canada's growth
[09:59] {Threei} looks good and ready, LVS
[09:59] {jfjf64} comon santa
[10:00] {jfjf64} spy break
[10:00] {Threei} S) NOV EXISTING HOME SALES: 4.68M V 4.75ME
[10:01] {RonS} took .18 to .27 +.09 thxs 3i
[10:01] {Threei} *(US) OCT HOUSE PRICE INDEX M/M: +0.7% V -0.2%E
[10:01] {jfjf64} bounce
[10:01] {Threei} ron :)
[10:01] {Threei} touched 1:1...
[10:02] {Threei} now numbers are killing the market
[10:02] {Threei} oh well
[10:02] {Threei} it was an honest trade, no trickery
[10:02] {magoo} i took .20
[10:02] {magoo} stopped .
[10:05] {magoo} sh lvs 46
[10:08] {magoo} out
[10:08] {Threei} watching SLW for rinsing .60 buyers
[10:09] {RonS} brb gotta reboot...platform freezing
[10:10] {magoo} l lvs .10
[10:13] {stewy} veco breakout?
[10:13] {Threei} don't like it at all
[10:14] {stewy} ok
[10:14] {dino} nke maybe db in making
[10:14] {magoo} .99 stop lvs
[10:16] {Threei} Long Setup: SLW .40 break
[10:16] {Threei} if stays above .30
[10:22] {Threei} 1:1
[10:22] {Threei} our pre-market idea was correct
[10:23] {dino} kmx sm l .30
[10:23] {Threei} execution was not flawless I'd say, but look from how many rinses it saved us
[10:23] {Threei} and got us in winning entires
[10:24] {Threei} sorry for mistyping "correct"... it's "korreqt" of course
[10:30] {Threei} *(US) DOE WEEKLY ENERGY INVENTORIES: CRUDE: -5.3M V -1ME; GASOLINE: +2.4M V +500KE; DISTILLATE: -590KM V -1ME; UTILIZATION: 87.7% V 87.8%E
[10:31] {Threei} Euro vs US Dollar Dealer chatter of about of yard of Euros bid ahead of 'key' 1.3070 level- Likely euro sell stops building below the 1.3070 level
[10:37] {Threei} mobbit hiccup?
[10:37] {Threei} mibbit
[10:37] {stewy} .
[10:37] {magoo} i here?
[10:37] {Threei} yeah
[10:38] {Threei} some of routes probably... 3 lost connection
[10:46] {dino} sm l msb .85
[10:54] {magoo} dino, share size?
[10:57] {dino} 300
[10:57] {dino} pulp type
[10:58] {dino} want a buck
[10:59] {dino} rally time
[11:05] {Threei} watching RIMM for long entry on oullback to 58
[11:07] {Threei} no chance
[11:07] {Threei} straight up
[11:08] {dino} f'ing rinses, 3 so far today
[11:12] {Threei} watch RIMM
[11:12] {Threei} if we are lucky it will drop sharply here
[11:12] {Threei} giving us entry around 58
[11:17] {Threei} just a tad more pls
[11:26] {ese} L zion .64
[11:30] {RonS} l rht .46
[11:36] {ese} if zion gets past .71, 24.00 is my target
[11:38] {magoo} f'in rimm
[11:38] {magoo} i missed entry
[11:39] {Threei} it's a first day we deploy this approach
[11:39] {Threei} not honed up yet
[11:39] {magoo} not complaining about u
[11:39] {Threei} but look how flawlessly it works
[11:39] {magoo} just cant get any going
[11:43] {ese} hmmm correct that .92 is more likely for zion
[11:44] {ese} i'm with ya there mags
[11:45] {dino} out rimm .85, +.75 ty vad
[11:45] {Threei} wtg
[11:45] {Threei} beautiful trade
[11:45] {ese} ya know.....i follow rimm for days......the day i decide to give it a break.......kabam!!!!! sheesh
[11:45] {Threei} Short Setup: RIMM .90 break
[11:46] {Threei} ugh
[11:46] {Threei} wait
[11:46] {Threei} maybe bounces back up for entry
[11:46] {Threei} let it go obver .90, ahort recross if stays under 59
[11:47] {Threei} invalidated
[11:47] {Threei} not off radar though
[11:47] {Threei} looking for better entry
[11:47] {dino} cpy -10 in day
[11:47] {Threei} Short Setup: RIMM 59 break
[11:47] {Threei} if stays under .10
[11:50] {Threei} beatiful, second chance entry for those who missed original break
[11:50] {Threei} 1:1
[11:50] {Threei} cover half
[11:50] {Threei} stop to just abive 59
[11:50] {Threei} hopefully no rinse
[11:50] {Threei} can drop to about .55-.60
[11:52] {Threei} die RIMM
[11:53] {Threei} good girl
[11:53] {Threei} 1:2
[11:53] {Threei} stop to .95 for the last piece, not covering at 1:3 but rather trailing for 1:4
[11:55] {dino} gj
[11:55] {magoo} nice ty ..may we have another?
[11:56] {Threei} let's finish this one first
[11:56] {Threei} I want about 20 cents more for the last portion
[11:57] {Threei} and if does what I suspect it's going to, it will be one big swoop
[11:59] {Threei} out
[11:59] {Threei} oh well
[12:02] {RonS} rht out .64 +.18
[12:02] {dino} gj
[12:04] {Threei} overtightened RIMM trailing stop eh?
[12:06] {dino} magoo you in msb?
[12:07] {dino} amn
[12:08] {dino} cpy sm l .90
[12:14] {dino} .
[12:15] {dino} am i here?
[12:15] {Threei} yes
[12:15] {RonS} yep
[12:15] {dino} thx
[12:18] {dino} theres the buck magoo
[12:19] {RonS} sndk, anyone see a short entry?
[12:19] {magoo} good one
[12:19] {RonS} msb, an oil trust dino?
[12:20] {dino} miner
[12:21] {dino} stop to .95 expect slip
[12:22] {dino} out ave .97, +1.12
[12:22] {RonS} gj...miner of what?
[12:22] {dino} metals/mining
[12:29] {stewy} .
[12:29] {ese} out zion .82 +.20
[12:32] {dino} gj
[12:33] {RonS} wtg ese
[12:34] {RonS} btw msb is land and iron ore...tied to clf...per 10Q
[12:35] {Threei} darn RIMM
[12:35] {dino} in my setup, industry is shows, ie metals/mining
[12:36] {Threei} had to keep stop in original place of a first breakeven trail
[12:37] {ese} vad wag......thoughts 15min chrt
[12:37] {ese} 5min cht
[12:38] {ese} sorry again 1min chrt
[12:39] {Threei} I guess I'd try .50 reak in this case
[12:39] {ese} tks
[12:48] {ese} L wag pullback .44
[12:50] {ese} went with the aggressive entry vad.....
[12:55] {ese} out wag .51 +.07
[12:55] {ese} i'll take it
[12:57] {Threei} why not
[13:01] {magoo} anyone got anything?
[13:03] {Threei} I got a vague feeling of severe market drop coming
[13:03] {dino} lol, gut says up
[13:10] {ese} S&P precarious looking for sure
[13:16] {Threei} Short Setup: RIMM .60 break
[13:17] {magoo} INNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
[13:17] {Threei} gosh
[13:17] {Threei} scared the bejeezus out of me
[13:22] {magoo} wheres you stop..not looking good
[13:22] {Threei} nope
[13:23] {Threei} .70
[13:23] {magoo} OOOUUUTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
[13:26] {magoo} figures, freakin .02 from vads stop
[13:26] {magoo} took .68
[13:27] {magoo} you're good, but not that good
[13:30] {ese} i'm goin long rimm
[13:32] {Threei} 1:1
[13:32] {Threei} not that good you says
06[13:32] * Threei slaps magoo around a bit with a comparator of goodness
[13:32] {magoo} i so so wanna slap u
[13:33] {Threei} I have different advice
[13:33] {Threei} gently approach the mirror...
[13:33] {Threei} look at the reflection in it...
[13:33] {Threei} ask it why it doesn't play by the book
[13:33] {magoo} OY
[13:34] {stewy} .
[13:34] {stewy} 1:1 ty
[13:34] {Threei} then open A taoist Trader course
[13:34] {Threei} and read everything about arrogance that makes us think we can outsmart market
[13:34] {Threei} and bend the rules
[13:34] {Threei} welcome stewy
[13:36] {magoo} ouch, for keeping a stop .02 cents tighter ...WOW, slammed me
[13:36] {Threei} it's not about 2 cents
[13:36] {Threei} it's about meaningful price levels vs noise
[13:36] {Threei} .70 means something
[13:36] {Threei} .68 doesn't
[13:37] {magoo} explain
[13:37] {Threei} stop is located above resistance
[13:37] {Threei} .70 is resitance
[13:37] {Threei} .68 is just random number
[13:37] {Threei} break of .70 invalidates the reason for the trade
[13:38] {Threei} .68 is just noise
[13:38] {Threei} you don't set stops where you want,
[13:38] {Threei} you take them from the chart
[13:39] {Threei} 13:06, long tail upward,
[13:39] {Threei} hard rejection of upward spike,
[13:39] {Threei} sloed at .69,
[13:39] {Threei} 13:07, high .69
[13:39] {Threei} sloed = closed
[13:40] {Threei} thus .70 resistance is established
[13:40] {Threei} break of it invalidates the short
[13:40] {Threei} stock bounces and tops out at .68 - perfect confirmation of the trade validity
[13:40] {Threei} taking stop under meaningful resistance - not my forte
[13:41] {Threei} above - yes
[13:41] {Threei} now, back to Taoist Trader for the principle of non-interference
[13:42] {Threei} taking action when there is no signal - interference with forces of nature
[13:42] {Threei} bad
[13:42] {Threei} staying inactive when there is no signal - non-interference, letting nature take its course
[13:42] {Threei} good
[13:42] {Threei} me done talking... me tired... me want drink
[13:42] {Threei} 1:2 is coming
[13:43] {Threei} here
[13:43] {Threei} me out
[13:43] {Threei} got meselef that market drop
[13:47] {Threei} gut was right
[13:47] {Threei} but since no one is talking to me anyway, be back in 20
[13:47] {dino} gj
[13:47] {Threei} but before I leave,
06[13:47] * Threei slaps magoo around a bit with a large trout
[13:48] {Threei} now I can leave
[13:48] {magoo} things i do for the better of the rooms education
[13:59] {dino} ua
[13:59] {dino} sm l .06
[14:08] {dino} things that make me go, "hmmm"
[14:08] {Threei} and grind your gear? :)
[14:08] {dino} lol
[14:09] {ese} L rimm .47
[14:09] {dino} amn, confuses me, no news -12 in 2 days
[14:10] {magoo} its being sold dino :)
[14:10] {dino} indeed, to where tho? gap at 70.80s?
[14:13] {dino} lol, should have v=bgt .00 break as it went .60 on this typing
[14:20] {magoo} LVS uinteresting
[14:22] {RonS} sndk gonna go for a gap fill today? w/ market help of course
[14:24] {dino} ua to .46
[14:25] {dino} to .56
[14:26] {magoo} everyone in troom starte bidding lvs and we'll push it up
[14:28] {dino} to .61
[14:28] {RonS} feels like i am watching paint dry...even the .vix is doing nothing
[14:29] {dino} apkt
[14:31] {dino} to .66
[14:32] {dino} to .71 hum dee dum
[14:32] {dino} out .71, +.65
[14:33] {Threei} nice
[14:33] {RonS} nice dino
[14:33] {dino} ty
[14:33] {magoo} if i may, share size dino?
[14:34] {dino} 300
[14:34] {magoo} XOMA nuts again today
[14:34] {dino} sm=300
[14:35] {magoo} yup, avoid the rinse-a-roo, gj
[14:35] {dino} thx. lots of rinses last 6 days or so
[14:35] {magoo} yup
[14:36] {magoo} anyone hit LVS whni mentioned it .00's?
[14:44] {dino} mim
[14:44] {dino} +8
[14:47] {dino} v sm s .99
[14:48] {RonS} ?
[14:48] {ese} nice one with apkt dino
[14:48] {dino} mim v sm s .99
[14:48] {ese} i especialy like the ho hum nature of your trading
[14:49] {dino} :D
[14:53] {dino} kmx to .34
[15:03] {dino} mim stopped -.40
[15:07] {dino} what do you make of mim 3i?
[15:09] {Threei} i don't understand the news
[15:10] {dino} +56%
[15:10] {Threei} reorganization of share structure, elimination of dual class
[15:10] {Threei} shrug
[15:11] {Threei} color me simpleton
[15:11] {dino} yes, i read it but don't get the reaction, especially since no other players were on it
[15:12] {Threei} this imacts the price of commons in some eay i do not understand
[15:12] {dino} adding common, ditching other shares. odd
[15:17] {dino} 'out kmx +.08
[15:24] {dino} watch that mim drop to 25
[15:27] {dino} lol another rinse
[15:28] {Threei} my morning idea of technique change proves itself I guess...
[15:28] {dino} cpyb to .79
[15:28] {dino} cpy
[15:28] {Threei} and lord knows I am having whale of time while magoo is restricted to mibbit and can't slap back {G}
06[15:29] * Threei slaps magoo around a bit with a largely useless mibbit
[15:29] {dino} i re-loaded thatmim s at 28.50, was too risky to post
[15:30] {Threei} nice result but seriously scary trade
[15:31] {dino} only 200
[15:32] {dino} bstop to .01
[15:33] {Threei} THC...
[15:33] {Threei} buyour sopeculation
[15:34] {Threei} buyoyt
[15:34] {Threei} whatever
[15:34] {dino} back in ten
[15:44] {ese} catch you all tomorrow
[15:44] {stewy} .
[15:45] {stewy} c u ese
[15:46] {Threei} take care ese
[15:47] {Threei} not going to take any more trades today guys
[15:47] {Threei} thank you all, have a good evening
[15:47] {Threei} see you tomorrow
[15:47] {larisa} bye!
[15:48] {dino} cov mim .50, +1.00
[15:48] {stewy} thx 3i. always an adventure
[15:49] {stewy} :)
[15:55] {dino} out cpy .88 -.02
