Monday, January 24, 2011

Jan 24 2011

As you know, I advocate trading reversals on the right side, AFTER actual reversal occurred and not before it did. This requires certain setup, certain chart formation that indicates high probability of trend break.

Here is a little daily SPY chart for those who try to nail the market top. This could be your Double Top setup. Look at the chart attached showing potential double top forming. Notice, FORMING, not FORMED yet - it may or may not shape up, this is just a suggesting what to look for as a confirmation.

We have a first top at 129.64. We have a Doji formed on the retreat from that top, with higher volume than that of the top and low 127.13. We have a bounce that hasn't reached a first top's high yet, and so far shows lower volume than that of a Doji. IF SPY doesn't make new high and loses Doji's low, high odds reversal on daily chart is in play, Nearest strong support is 126

Other than that, about breakeven day. Some morning back and forth, then a few afternoon wins took us to flat and we stayed inactive till the end of the day, not feeling confidence in the direction

Session Time: Mon Jan 24 00:00:00 2011
[08:46] {magoo} morning
[08:48] {Threei}  hey mags
[08:49] {magoo} hi vad
[08:50] {nemo} gentlemen
[08:50] {nemo} birdman
[08:50] {Threei}  captain :)
[08:58] {jfjf64} mornin all
[08:58] {Threei}  jf :)
[09:02] {nemo} any news on clda vad
[09:04] {Threei}  CLDA Announces FDA Approval of Viibryd
[09:05] {dino} gm all
[09:05] {nemo} clda dino
[09:06] {ese} gm
[09:07] {Threei}  dino, ese :)
[09:08] {dino} wow
[09:10] {ese} whats the wow dino
[09:10] {ese} clda
[09:11] {dino} y
[09:12] {dino} was -13 f here this morning
[09:13] {ese} clda:- Announced that the U.S. Food and Drug Administration (FDA) has approved vilazodone HCl tablets, to be marketed under the brand name Viibryd, for the treatment of adults with major depressive disorder (MDD)
[09:13] {ese} hmmmmmmmm
[09:14] {ese} i'm depressed about not being in friday.....and now it's up 10 bills
[09:14] {ese} man just no psychic skills whatsoever.......i can't cope
[09:15] {RonS} gm gents...look at the bright side ese, at least you weren't part of the 3 mil sh short
[09:15] {Threei}  ron :)
[09:15] {Threei}  good point , lol
[09:15] {ese} lol
[09:15] {RonS} good movie...The King's Speech
[09:17] {nemo} sean penn
[09:17] {stewy} good mrning all
[09:17] {RonS} stld should be getting pasted and is not...big earn miss...hmmm
[09:17] {Threei}  stewy :)
[09:20] {larisa} gm :)
[09:22] {Threei}  larisa :)
[09:22] {larisa} vad :)
[09:25] {harth} morning all:)
[09:25] {Threei}  harth :)
[09:27] {Threei}  first trade I look for is SLW short
[09:27] {ese} mrkt tired and overbought imo......MCD beats slightly dn a buck
[09:27] {dino} srx odd
[09:27] {dino} wins 9m fbi job drops
[09:28] {ese} seemed to happen alot last week as well
[09:28] {Threei}  spread is too wide yet and volatilit at the open is of concern
[09:28] {Threei}  other than that, .40 break is tempting short
[09:29] {nemo} what, clda?
[09:29] {Threei}  ?
[09:29] {nemo} oh, mcd
[09:29] {Threei}  ?
[09:29] {Threei}  [09:27] {Threei} first trade I look for is SLW short
[09:30] {Threei} Short Setup: SLW  .40 break
[09:30] {Threei}  if stays under .55
[09:32] {ese} couldn't get in
[09:32] {Threei}  here is second chance
[09:32] {nemo} me neither, BIDU really selling off
[09:33] {Threei}  no go
[09:33] {nemo} no worky
[09:33] {Threei}  too volatile
[09:33] {Threei}  most likely a rinse
[09:33] {ese} i'll say
[09:34] {Threei} Short Setup: LVS  .45 break
[09:34] {Threei}  if stays under .55
[09:34] {Threei}  invalidated
[09:35] {Threei}  let's recalibrate it
[09:35] {Threei}  .60 break
[09:35] {Threei}  if stays under .70
[09:35] {Threei}  invalidated
[09:36] {Threei}  .75 break
[09:36] {Threei}  doji
[09:36] {Threei}  if stays under .85
[09:37] {Threei}  in
[09:37] {Threei}  not a scalp if works
[09:37] {Threei}  1:1
[09:37] {Threei}  cover half
[09:38] {Threei}  stop to .81
[09:38] {Threei}  scalpers win
[09:40] {dino} msb sm l .00
[09:40] {Threei} Short Setup: LVS  .46 break
[09:40] {Threei}  if stays under .10
[09:41] {Threei}  market drops
[09:41] {Threei}  don't ri9nse now
[09:42] {Threei}  held by fingertips
[09:44] {nemo} no nails left
[09:44] {Threei}  still one left
[09:45] {Threei}  grrr
[09:47] {Threei}  X doesn't follow market spike
[09:48] {Threei}  let's let it go over .70, the short cross back if stays under .80
[09:49] {Threei} Short Setup: X  .70 break
[09:49] {Threei}  stop above .80
[09:49] {nemo} in .69
[09:50] {ese} L ms .95
[09:51] {ese} bad fill  wanted .91 it poped up on me
[09:53] {nemo} go long above .80?
[09:53] {nemo} 5 minute chart
[09:53] {Threei}  nope
[09:53] {Threei}  target is about .35, with partials along the way
[09:53] {nemo} bottom here at .68 bids
[09:53] {Threei}  what bids
[09:53] {Threei}  those fake bids?
[09:53] {nemo} yeah, disappeared
[09:54] {Threei}  :)
[09:54] {Threei}  1;1
[09:54] {Threei}  half out
[09:54] {Threei}  stop to .75
[09:54] {RonS} mcp halt
[09:55] {Threei}  1:2
[09:55] {Threei}  1/4 more out
[09:55] {Threei}  stop to .70
[09:55] {jfjf64} very nice
[09:56] {nemo} aig
[09:56] {ese} what are you lookin at dino
[09:57] {Threei}  stop to .65
[09:57] {nemo} dead people ese
[09:57] {Threei}  lol
[09:58] {Threei}  out last piece
[09:58] {ese} ms stopped .80 -.15
[10:01] {dino} not much es
[10:01] {Threei} Short Setup: AIG  .50 break
[10:01] {Threei}  half lot
[10:01] {Threei}  awww... trailed X a bot too tight
[10:02] {dino} ffiv was hopining for 102.70s for gap fill, but not yet
[10:02] {dino} apkt bloody
[10:02] {Threei}  AIG, if stays under .65
[10:02] {dino} 49.05 gap
[10:03] {Threei}  MCP Registers $500M in shares for holders, $172.5M in series A convertible preferred stock - filing
[10:03] {Threei}  sic transit gloria mundi
[10:03] {Threei}  X hit original traget
[10:03] {nemo} illegitimi non carborundum
[10:04] {Threei}  AIG invalidated
[10:05] {magoo} news BIDU?
[10:05] {Threei}  no
[10:05] {dino} all i see is raised to outperform
[10:05] {dino} 138 target
[10:06] {Threei}  yeah, bs upgrade
[10:06] {magoo} bidu dino?
[10:06] {dino} y
[10:06] {magoo} fast and furious this morn, look LVS woulda worked
[10:06] {dino} should have listened to ron on stld
[10:06] {magoo} slw sh
[10:06] {magoo} looks to work
[10:07] {Threei}  yes mags but eventual stup was 46.20 break adn it had too wide stop
[10:07] {nemo} good yiddish word
[10:07] {Threei}  lol
[10:07] {Threei}  setup
[10:08] {nemo} thought you meant shtup
[10:09] {Threei}  EUR/CHF Swiss President: Country to continue supporting the Euro
[10:09] {Threei}  { Swiss President} I always liked the role of Titanic's captain
[10:09] {jfjf64} suicide bomber   russia  airport
[10:10] {nemo} yeah, earlier this morning
[10:10] {Threei}  yeah... one of the busiest
[10:10] {jfjf64} crazy
[10:10] {magoo} suicide bomber was a busy man?
[10:10] {larisa} you think it is funny?
[10:11] {larisa} international terminal too
[10:12] {ese} L ldk.13
[10:12] {nemo} gallows humor lari
[10:12] {Threei}  LVS, looking for long aggressively
[10:12] {Threei}  closer to .60
[10:12] {Threei}  with idea of .80 break in mind
[10:13] {Threei}  and stop under .55
[10:13] {Threei}  .60 break
[10:13] {Threei}  if holding .55
[10:13] {Threei}  nope
[10:14] {jfjf64} weird  mornin
[10:14] {Threei}  very, nothing like we had this whole month
[10:14] {magoo} no, not really, just the  room here hardens u after years
[10:15] {jfjf64} that  explains
[10:15] {jfjf64} lol
[10:15] {Threei}  JPMorgan Chase and Co US Supreme court rejects a lawsuit over credit cards interest rate increases; rules in favor of Chase- Rules that banks do not need to provide written notice before raising interest rates for credit card holders who default on a payment under the regulations that existed at the time of the suit. - Decision was unanimous, overturning an Appellate court decision from 2004 that allowed a class action suit to proceed.
[10:16] {magoo} biounce time X?
[10:16] {Threei}  hmmm
[10:17] {Threei}  no
[10:17] {Threei}  if anything, I'd continue looking for ashort entry on it into bounce
[10:19] {nemo} lvs likely to bounce around here.  Friday low .15
[10:20] {jfjf64} x  read   on  money
[10:21] {Threei}  look at elaboration of previous headline
[10:21] {Threei}  EUR/CHF Swiss President Calmy-Rey: Country to continue supporting the Euro currency as almost 3/4 of reserves are in Euros
[10:21] {Threei}  meaning, "what else do we do"
[10:22] {dino} nowthats funny
[10:22] {Threei}  we already tied our boat to this ship
[10:22] {Threei}  if it goes down, so do we
[10:23] {ese} out ldk .20 +.07
[10:25] {Threei}  ugh
[10:25] {Threei}  just started contemplating X short on .40 recross
[10:25] {Threei}  thing didn't give me much time
[10:26] {nemo} Dino still with us?
[10:26] {dino} y
[10:26] {dino} still fighting a cold
[10:29] {ese} thats a cold over christmas lasted for a week but the cough lasted for a month
[10:30] {Threei} Short Setup: X  .40 break
[10:30] {dino} yeah, it sucks, but who is john galt
[10:30] {Threei}  if stays under .50
[10:30] {Threei}  target's around .20
[10:31] {Threei}  stop .52
[10:32] {Threei}  no go
[10:32] {magoo} AIG strong
[10:33] {magoo} mcp opened
[10:35] {Threei} Long Setup:  LVS  .40 break
[10:35] {Threei}  if stays above .30
[10:36] {nemo} in
[10:36] {Threei}  1;1
[10:36] {nemo} 1/2 out .50
[10:36] {magoo} in
[10:38] {nemo} vad, could you please find a stock that moves a buck or two in 30 seconds or so
[10:38] {Threei}  sure
[10:38] {Threei}  GOOG
[10:38] {magoo} yes, please
[10:38] {RonS} lol
[10:39] {larisa} moves in your direction or opposite? :)
[10:39] {nemo} blonde?
[10:39] {nemo} or just in spirit
[10:39] {larisa} yes :)
[10:40] {Threei}  no trout?
[10:40] {Threei}  larisa is unusually kind today
[10:40] {Threei}  GOOG is up a dollar since my mention
[10:41] {magoo} NVDA nice chart
[10:41] {magoo} 52 weeker here
[10:42] {RonS} barrons bump...said stock could go +80% from Fri
[10:42] {RonS} hal strong
[10:42] {nemo} spy breaking range
[10:44] {RonS} eur kinda rippin
[10:44] {Threei}  LVS near low though
[10:45] {RonS} that Swiss guy has some real influence...:D
[10:46] {RonS} Halliburton CEO:On Cusp Of 'Major' Upswing In Customer Spending       01/24 07:21 AM
[10:47] {RonS} wow, what a typing mistake...
[10:47] {RonS} have no idea how that happened
[10:52] {nemo} in atpg .51
[10:52] {Threei} Long Setup:  X  .90
[10:53] {Threei}  if holding .80
[10:54] {nemo} 1/2 out .57
[10:56] {nemo} 1/4 more .62
[10:58] {Threei}  nice one
[10:58] {nemo} stop .49
[11:04] {nemo} stop to .64
[11:05] {Threei}  SLW
[11:06] {Threei}  breakout
[11:06] {Threei}  not sure I want it here, watching
[11:06] {Threei}  maybe pullback entry
[11:06] {dino} darn, missed apkt gap fill entry
[11:08] {Threei}  stewy, look dcc
[11:09] {stewy} ok
[11:09] {ese} L aptg .81 kinda thin...bit of a gamble...
[11:10] {nemo} i'm in since .51
[11:10] {dino} was talking about gap earlier, got distracted
[11:10] {ese} nice nemo...just looking for 10/15 cents here
[11:13] {Threei} Short Setup: SLW  .35 if stays under .40
[11:13] {Threei}  hunting for H&S reversal
[11:13] {magoo} be back in hour
06[11:13] * Threei marking the time
[11:14] {Threei}  invalidated
[11:14] {dino} gj nemo
[11:14] {Threei}  short idea is still there as long as .50 is not broken, just looking for different setup
[11:14] {nemo} in nvda .21
[11:16] {nemo} stop .10
[11:16] {Threei} Short Setup: SLW  .35 if stays under .45
[11:17] {ese} out aptg .81 even...not doin it for me
[11:17] {nemo} 1/2 out .31
[11:18] {dino} tzoo, thd
[11:19] {nemo} atpg stop .74
[11:21] {nemo} to .84
[11:21] {ese} nice nemo
[11:23] {dino} thd sm l ..63 ave
[11:23] {Threei}  NVDA 1:2
[11:23] {Threei}  very nice
[11:25] {nemo} not sure where to put stop on that one
[11:25] {nemo} bb avg?
[11:25] {nemo} .34?
[11:26] {nemo} if it forms range here and breaks, add?
[11:26] {Threei}  under .30 I'd keep
[11:28] {Threei}  no, no adding
[11:28] {Threei}  lunch time
[11:29] {nemo} out atpg .84
[11:29] {nemo} last 1/4
[11:29] {Threei}  well, unless a few nice wins come along, I am looking at the first losing day of 2011
[11:31] {stewy} 3i, network crash. Great timing back later
[11:34] {nemo} stop nvda .44
[11:34] {Threei}  almost 1:4
[11:35] {nemo} letting last 1/4 run
[11:35] {nemo} good monday?
[11:35] {nemo} this makes no sense
[11:38] {stewy} .
[11:43] {ese} what nemo
[11:44] {nemo} I'm having a really good day, no losing trades....makes no sense, especially for a Monday
[11:44] {dino} wtg
[11:44] {Threei} Short Setup: NVDA  .50 break if stays under .60
[11:45] {nemo} jeez, now you're gonna make me move my stop up
[11:45] {Threei}  you should anyway
[11:45] {Threei}  .50 is clear support
[11:45] {nemo} yeah .49
[11:45] {nemo} was .44
[11:46] {nemo} out
[11:46] {Threei}  very nice management
[11:46] {nemo} ty
[11:47] {_samster} .
[11:47] {Threei}  watch how your previous stop would have been hit anyway once .50 is lost
[11:47] {nemo} we got a gerbil now?
[11:47] {RonS} lol
[11:47] {nemo} yep
[11:47] {Threei}  here it comes
[11:51] {nemo} got rinsed out of my previous stop ;)
[11:52] {Threei}  how do you figure?
[11:52] {nemo} it's come back now
[11:53] {Threei}  1;1
[11:54] {Threei}  half out
[12:02] {Threei}  scalpers win
[12:06] {nemo} Frickin' computers don't have lunch hours...balderdash
[12:12] {Threei}  magoo has 1 min left
[12:24] {ese} hmmmmm got cut off and couldn't get back......weird
[12:25] {ese} I'm L ldk .39
[12:30] {ese} out ldk .53 +.14
[12:30] {RonS} gj
[12:31] {ese} tks
[12:37] {nemo} oh.....
[12:37] {nemo}  How 'bout those J
[12:37] {nemo} E
[12:37] {nemo} T
[12:37] {nemo} S
[12:38] {ese} Bennie and the Jets?
[12:39] {nemo} Probably Darvon bennies
[12:39] {dino} if they only showed up in the first half, could've won. held pitt to zero pts in second half
[12:40] {nemo} yeah, that rookie center for Pitt was a real liability
[12:40] {dino} yes
[12:42] {RonS} Bears fans burning their Cutler jerseys
[12:44] {Threei} Long Setup:  X  .75
[12:44] {Threei}  if stays above .65
[12:44] {larisa} hey, I am in short, do not do it :)
[12:44] {Threei}  invalidated :)
[12:44] {larisa} just kidding
[12:45] {Threei}  you are in th clear
[12:45] {nemo} .55 long support
[12:45] {larisa} I mean, i am short, but do whatever you like :)
[12:45] {Threei}  but wouldn't you cover it if it went over .75? :)
[12:46] {larisa} probably
[12:46] {nemo} she's in shorts? in this weather
[12:47] {Threei}  lwt me guess - she has heating in her house?
[12:48] {Threei}  nice one larisa
[12:52] {larisa} ty, +30
[12:52] {larisa} now it breaks :)
[12:58] {Threei} Short Setup: CAT  .20
[12:58] {Threei}  if stays under .30
[12:59] {Threei}  larisa, don't tell me you are long CAT
[13:01] {Threei}  (FR) French police disarm explosive device found at Charles De Gaulle airport - Xinhua news
[13:01] {Threei}  sheesh
[13:04] {magoo} back
[13:04] {Threei}  you are kate
[13:04] {Threei}  late
[13:04] {Threei}  almost an hour
[13:04] {Threei}  note from parents, please
[13:05] {magoo} yea, had to take truck to shop
[13:05] {magoo} lost brakes..tricky ride
[13:05] {RonS} change name...Fred
[13:05] {RonS} as in Flintstone...
[13:07] {Threei}  what the deuce today
[13:07] {Threei}  as soon as I get almost breakeven, next trade takes me back in red
[13:07] {nemo} you suck
[13:07] {Threei}  maybe I need to give up and accept a losing day eh?
[13:07] {ese} Ltdk .51
[13:08] {Threei}  for the rest of the week nemo is new leader
[13:08] {nemo} nah, 2-4 you'll get back green
[13:08] {ese} daaaaaaaa make that .52
[13:08] {Threei}  dear leader
[13:08] {Threei}  fearless too
[13:08] {nemo} O.k call the it comes
[13:09] {nemo} how about btu here?
[13:09] {ese} ya know....i'm going to petition the nasdzq to round off trades to at least 25 decimal places........don't you must be acurate now don't you think
[13:09] {nemo} two way?
[13:10] {nemo} .89 vwap
[13:10] {Threei}  short, IMO
[13:10] {Threei}  which means go long today :)
[13:10] {Threei}  costanza trade
[13:13] {nemo} yep
[13:13] {Threei}  see
[13:17] {magoo} i thought ud be like"miss tons of dough magoo" while i was away
[13:17] {Threei}  nope, not today
[13:17] {Threei}  barely trading my way out of wet paper bag
[13:19] {RonS} Rahm Emanuel Kicked Off Chicago Mayoral Ballot by Court Ruling: Report
[13:20] {RonS} guess he forgot the payoff...
[13:20] {dino} good
[13:20] {nemo} dickhead
[13:20] {Threei}  wow, really?
[13:20] {nemo} didn't you know?
[13:21] {Threei}  I missed whole thing... what was the issue with his candidacy?
[13:21] {RonS} residency
[13:21] {nemo} residency
[13:21] {RonS} claimed to live in Chi when in DC
[13:22] {Threei}  hmmm... I can birthers encouraged and going after Obama wioth double energy {G}
[13:22] {Threei}  cam see
[13:22] {Threei}  can see
[13:27] {RonS} lol, just Appellate off to the Illinois Supreme Court
[13:29] {Threei} Long Setup:  RIMM  .25
[13:29] {nemo} rimm?
[13:29] {Threei}  if stays above .15
[13:29] {Threei}  ?
[13:30] {Threei}  why does it amaze you so much?
[13:30] {nemo} haven't heard that name in a while
[13:30] {nemo} or...don't want to hear it
[13:30] {Threei}  lol
[13:30] {RonS} Coststanzaaaaa!!!...
[13:31] {Threei}  if it Festivus yet?
[13:31] {nemo} I'm still trying to get Kwanzaa straight
[13:31] {RonS} for the rest of us?
06[13:32] * nemo slaps RonS around a bit with a large trout
06[13:32] * nemo slaps RonS around with a large "Newman" doll
[13:32] {RonS} went to a guy's house for Christmas party...had lots of outdoor decorations...but had huge Festivus pole...15 ft
[13:33] {RonS} i was the only person there who recognized what it was
[13:33] {Threei}  this doesn't reflect too well on you Ron... sorry to say
[13:33] {RonS} ooof, a Newman doll hurts...
[13:34] {Threei} Long Setup:  BTU  .10 break
[13:34] {Threei}  if stays above 59 of course'
[13:34] {nemo} and if it gets to 69 we have to turn around
[13:35] {magoo} rimm valid
[13:35] {Threei}  yes
[13:35] {nemo} just bounced off 50
06[13:39] * Threei kicks RIMM in the rear
06[13:39] * Threei kicks BTU in the rear
[13:39] {magoo} accidentally hits BTU rear
[13:39] {Threei}  no accidents
[13:39] {Threei}  aimed for both
[13:40] {nemo} CLF
[13:40] {Threei}  ummm... I may have confused BTU's front and rear
[13:40] {Threei}  RIMM 1:1
[13:46] {Threei}  1:2, out
[13:46] {Threei}  BTU going top 1:1 will make me breakeven for the day
[13:47] {Threei}  here here kitty kitty
[13:47] {Threei}  3 more cents
[13:47] {Threei}  2
[13:48] {Threei}  trailing stop to under b/e, don't want to lose on it
[13:48] {magoo} out .47 ty vad rimm
[13:48] {Threei}  welcome sir
[13:48] {jfjf64} TY  Sir
[13:48] {jfjf64} rimm
[13:49] {Threei}  come on BTU
[13:49] {stewy} thks rimm 1:2 got it right
[13:49] {Threei}  1
[13:49] {Threei}  whe
[13:49] {Threei}  outt BTU 1:1
[13:49] {Threei}  finally!
[13:50] {Threei}  toughest day this year
[13:50] {Threei}  but erased stops
[13:51] {magoo} knew u could do it
[13:55] {Threei}  now the question is, relax and be satisfied with flat, or try and get ahead
[13:55] {jfjf64} hmm
[13:55] {jfjf64} careful  mr  TAO
[13:56] {nemo} eeeewwww...that hurt
[13:56] {jfjf64} LOL
[13:56] {Threei}  speaking of which, gues what kschun forgot to read this weekend
[13:56] {jfjf64} jf votes    get  ahead
06[13:57] * Threei slaps kschun around a bit with A Taoist Trader Course
[13:57] {kschun} was sure this one would come LOL
[13:57] {jfjf64} i did  some  readin  this weekend   good  stuff
[13:57] {kschun} did not forget it, but read again all your other stuff, not yet ready for TAO
[13:57] {Threei}  you are never ready for Tao, but Tao is always ready for you
[13:57] {kschun} :-)
[13:58] {magoo} whats this "TAO"? chinese food?
06[13:58] * Threei slaps magoo around a bit with A Taoist Trader Course
[13:58] {jfjf64} you still in  rimm
[13:58] {Threei}  no
[13:59] {Threei}  out at 1:2
[13:59] {kschun} your teaching clips are the BURNER, lot to laugh too :-)
[13:59] {jfjf64} hmm
[13:59] {kschun} Vad just is a funny guy... :-)
[13:59] {nemo} except when it comes to bacon
[13:59] {Threei}  yes, nothing funny about that
[14:00] {jfjf64} imm hungry   blt  sounds  good
[14:01] {kschun} what s the story with vad and bacon?
[14:01] {kschun} RIMM, did reenter at .47
[14:01] {Threei}  ity's a story of enetrnal love
[14:01] {nemo} touchy subject
[14:01] {kschun} not sure about this one...
[14:02] {Threei}  love and suffering
[14:02] {kschun} LOL
[14:02] {nemo} love is suffering
[14:02] {kschun} GOOD POINT NEMO
[14:02] {Threei}  not when the subject of love, bacon in this case, is in uninterrupted supply
[14:02] {nemo} you don't think straight...make terrible decisions
[14:04] {kschun} lol
[14:05] {Threei}  but I need no decisions when it comes to bacon... decision is made once and forever:
[14:05] {Threei}  I eat it on a spot whenever and whever I see it
[14:07] {kschun} BLL seting up nicely, missed it before... not gona chase it. wanted to buy it just above 70
[14:08] {dino} out btu .35, +.35, ty nemo for heads up
[14:08] {Threei}  wtg
[14:08] {nemo} my pleasure
[14:08] {Threei}  I cut it short just to make sure I ginally get out of red
[14:08] {Threei}  finally
[14:09] {kschun} MSI volume - looks like distribution going on
[14:09] {dino} ptt, ttp right vad
[14:16] {nemo} might get a new high today
[14:23] {Threei}  (US) House Majority Leader Cantor (R-VA): There will be no bailout for state governments
[14:27] {jfjf64} watchin  mos  all day cant  gettt pass this  level    
[14:29] {jfjf64} lookss breakdn
[14:31] {ese} I gotta go.....still L ldk see ya tomorow
[14:32] {RonS} cya ese
[14:32] {kschun} quite a lot of stocks breaking down out there
[14:32] {kschun} XLF weak
[14:32] {Threei}  take care ese
[14:33] {stewy} bye ese
[14:35] {kschun} CAM ?j
[14:37] {Threei}  no firm read
[14:41] {RonS} mu
[14:47] {RonS} X acting heavy imo
[14:55] {RonS} silver got hit...shorting slw on a 30 re-test...
[14:56] {RonS} 31
[14:57] {stewy} ron yr tgt is 30?
[14:57] {kschun} Tech stocks holding well in this "pullback"
[14:57] {RonS} nah...dunno...looks like re-test not happening
[15:00] {Threei}  quite disproportional drop SLW
[15:00] {dino}   gj ron
[15:00] {Threei}  very nice
[15:00] {kschun} internals show still space for this market to go down further
[15:00] {nemo} tck dropping
[15:00] {nemo} fcx too
[15:01] {RonS} did not catch it guys...silver lost .30 in seconds
[15:01] {Threei}  idea was great then
[15:01] {magoo} qany read nvda?
[15:01] {magoo} any
[15:01] {nemo} yeah, it broke
[15:02] {Threei}  if pulls back to this support it just broke, grab long
[15:02] {kschun} nvda: in strongest industry sector of the hole day
[15:02] {Threei}  near .70-.75
[15:15] {kschun} ESLRD looks like bottom, however penny stock, will not trade it. was a recent IPO
[15:15] {Threei}  IPO?
[15:16] {Threei}  ESLR was tardunbg for quite a while
[15:16] {Threei}  it just went to crapper recently
[15:16] {nemo} ?
[15:16] {kschun} ah no, sorry, got confused here...
[15:16] {kschun} rigth vad
[15:16] {RonS} x break
[15:17] {kschun} ACE short under .40
[15:27] {RonS} this thing on?
[15:28] {Threei}  {Thing} depends
[15:29] {Threei}  that was good setup actually kschun
[15:29] {Threei}  too bad it got invalidated, but chart was right
[15:29] {kschun} o.k. thanks
[15:30] {kschun} just did not like the volume on the up-move at about 2 p.m.
[15:31] {kschun} when stocks bottom a big volume, and this volume accelerates at up move I don't like to short this kind of action
[15:32] {kschun} bottoming at big volume... sorry
[15:47] {RonS} lvs curious
[15:52] {nemo} vmw after the close
[15:53] {stewy} Ron, Florida's new guv. Scott is keen on casinos.
[15:53] {stewy} He's met with lvs execs already
[15:53] {stewy} this might have some effect?
[15:55] {RonS} ...was talking about the lvs fat finger short dump...
[15:55] {stewy} k
[15:55] {RonS} but the opposite happened w/ whr
[15:57] {nemo} Thank you all,  good night, see you tomorrow, don't let the door hit you in the ass on the way out
[15:58] {nemo} Oh, sorry
[15:58] {nemo} got carried away
[15:58] {nemo} This is Vad's place
[15:58] {nemo} Can I stay?
[15:58] {Threei}  ummm
[15:58] {Threei}  well
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening
[15:58] {Threei}  see you tomorrow
[15:58] {larisa} bye :)
[15:59] {kschun} see you, thanks vad!
[15:59] {harth} ty cya Tues:)
[15:59] {kschun} volume in X
[16:03] {stewy} bye all