Tuesday, March 1, 2011

Mar 01 2011

Rocky start of the day yielded to much better performance as opening volatility subsided. Feeling that  market was going for breakdown, we targeted this setup as our Milk Trade - "milk it for all it has" that is, as opposite to "grab your little bit and get out." Setup is quite standard, so not much commenting needed beyond chart annotations. 

 Session Time: Tue Mar 01 00:00:00 2011
[08:19] {_cleto} morning... what time do we usually get going?
[08:20] {strider} Vad usu. makes his first post around 8:30
[08:22] {_cleto} ok  thx
[08:24] {strider} we all wait with baited breath for his first comments.
[08:24] {strider} Baited with bacon.
[08:29] {nemo} drilling stocks could see some action today
[08:30] {Threei}  US Dollar vs Canadian Dollar Pair moves below 0.97 level for strongest CAD since Nov 2007
[08:31] {Threei}  give me a gun saomeone
[08:37] {strider} LVS news
[08:37] {nemo} gambling spending in Macau up almost 48%
[08:38] {nemo} yoku crapped out
[08:38] {Threei}  Las Vegas Sands Corp Discloses that on Feb 9th it received a subpoena related to the foreign corrupt practices act in annual report
[08:38] {Threei}  - The company is subject to regulations imposed by the Foreign Corrupt Practices Act (the FCPA), which generally prohibits U.S. companies and their intermediaries from making improper payments to foreign officials for the purpose of obtaining or retaining business.
[08:38] {Threei}  - On February 9, 2011, LVSC received a subpoena from the SEC requesting that the Company produce documents relating to its compliance with the FCPA. The Company has also been advised by the Department of Justice that it is conducting a similar investigation. Any determination that we have violated the FCPA could have a material adverse effect on our financial condition.
[08:45] {dino} gm all
[08:47] {Threei}  dino :)
[09:04] {dino} .
[09:04] {Threei}  US navy Ships Are Moving Closer to Libya
[09:04] {Threei}  yeah, good idea... let's invade it
[09:05] {Threei}  and rule it for the next 10 years
[09:05] {_cleto} go Halliburton
[09:06] {nemo} just nuke the whole middle east and drill through the glass
[09:06] {Threei}  having all the previous experiences with this type of acyions and seeing how hey repeat it, can one ask any other question but wtf?
[09:12] {nemo} New Egg having a sale on nose hair trimmers
[09:13] {strider} Industrial quality?
[09:13] {nemo} Bosch
[09:14] {dino} cedc
[09:18] {rambler} morning all....
[09:21] {RonS} gm...March on dudes...
[09:22] {Threei}  rambler, ron :)
[09:22] {dino} saudi market -7%
[09:22] {nemo} saudi sent tanks to bahrain
[09:23] {jfjf64} mornin all
[09:23] {Threei}  jf :)
[09:25] {Threei}  (SR) Saudi Arabia stock market has fallen 7.3% on the session to a 20-month low; hearing news reports that Saudi Arabia has sent army units to Bahrain
[09:25] {Threei}  - According to Russian news agency RIA Novosti, eyewitnesses reported seeing "15 tank carriers carrying two tanks each heading towards Bahrain" along the 25-km King Fahd causeway, which links the small island nation of Bahrain to Saudi Arabia.
[09:26] {Threei}  they forgot to add, eyewitnesses shorted SA market prior reporting that
[09:26] {Threei}  LVS short is first idea for tyhe open
[09:27] {nemo} yoku should be volatile also
[09:27] {Threei}  ideall, it stabilizes a bit closer to .50, can't break it, then loses support for a short trigger
[09:28] {ese} gm
[09:28] {Threei}  YOKU spread is nightmrish
[09:28] {Threei}  ese :)
[09:29] {Threei}  sheesh NVAX
[09:29] {Threei}  keep it on backburner, maybe scalp off a pullback
[09:30] {Threei} Short Setup: LVS  .30 break
[09:30] {Threei}  hakf lot
[09:31] {Threei}  jumpy...
[09:31] {nemo} .30 range that first candle
[09:31] {Threei}  nope, not time yet
[09:31] {Threei}  let's wait out this first volatility
[09:31] {Threei}  no way to read that
[09:32] {patience} another 1/4 out slw
[09:33] {dino} cedc sm l .65
[09:34] {Threei}  great
[09:34] {Threei}  prepared this:
[09:34] {Threei} Short Setup: X  .55 break
[09:34] {dino} out cedc .00, +.35
[09:35] {_cleto} too fast on the x  missed
[09:35] {Threei}  yeah
[09:35] {_cleto} great call though
[09:35] {Threei}  hectic movements
[09:36] {_cleto} story of last 6 months
[09:36] {Threei} Short Setup: RIMM  .50 break
[09:36] {Threei}  half lot
[09:38] {dino} rp sm l ave .90
[09:38] {Threei}  stop above .60 scalpers, .70 day traders
[09:38] {rambler} out .65
[09:39] {Threei}  no go
[09:40] {dino} cedc sm l .00
[09:41] {Threei} Short Setup: X  .90 break
[09:41] {Threei}  sheesh
[09:41] {Threei}  too fast again
[09:41] {dino} cedc stopped -.30
[09:44] {Threei} Long Setup:  FCX  .65
[09:45] {Threei}  half lot
[09:45] {dino} cedc sm l .60
[09:46] {Threei}  nout
[09:46] {Threei}  what the deuce
[09:47] {nemo} Middle East and oil
[09:47] {dino} out cedc .53, -.07
[09:52] {Threei} Short Setup: SLW  .60 break
[09:54] {_cleto} long fcx, where is stop please?
[09:54] {Threei}  where are you in?
[09:54] {_cleto} 65
[09:54] {_cleto} out
[09:55] {nemo} oops
[09:55] {_cleto} short  slw.... at .59
[09:55] {Threei}  stop above .70
[09:56] {dino} deck, rovi fast drops
[09:57] {Threei}  let; scratch SLW
[09:57] {Threei}  holding too well while market drops
[09:58] {_cleto} ok
[10:00] {Threei}  (US) FEB ISM MANUFACTURING: 61.4 V 61.0E; PRICES PAID: 82.0 V 83.0E
[10:00] {Threei}  *(US) JAN CONSTRUCTION SPENDING M/M: -0.7% V -0.4%E
[10:01] {Threei} Long Setup:  X  .05 break, half lot
[10:01] {dino} deck sm l .90
[10:02] {_cleto} deck long 08
[10:02] {patience} another 1/4 out slw
[10:02] {_cleto} out
[10:03] {Threei}  SLW, really?? NOW you tank?
[10:03] {patience} bernake speaking
[10:04] {nemo} cleto...be careful with Dino's calls, he takes very big stops relative to Vad
[10:05] {_cleto} thx.. sorry but i was long x on that break not deck, but thx
[10:05] {Threei}  X, jumped to .18 afte break, then immediately down
[10:05] {_cleto} np
[10:07] {dino} twgp sm l .51
[10:10] {dino} deck stopped. taking break
[10:11] {ese} L rimm .31
[10:11] {strider} out slw long +.12
[10:12] {ese} wow turn away to type and i'm up .20
[10:12] {ese} out rimm .52_.21
[10:12] {ese} +.21
[10:13] {Threei}  RIMM ignores market
[10:13] {ese} is it ever
[10:13] {rambler} 3i, how did you play X....?
[10:14] {Threei}  when?
[10:14] {Threei}  on that .05?
[10:14] {rambler} long setup   .05 break
[10:14] {Threei}  I didn't - it jumped instead of breaking, so I never got in
[10:14] {Threei}  closest available price was .12, which is too much chasing
[10:15] {Threei}  then it crashed straight down
[10:15] {Threei}  from .18 tp .85
[10:16] {dino} gdot sm l .00
[10:17] {ese} L ldk. .05
[10:18] {Threei} Short Setup: SLW  .20 break
[10:18] {Threei}  if stays under .30
[10:18] {rambler} looks like I'm now an investor in X....
[10:18] {Threei}  wow
[10:19] {Threei}  I don't like the sound of it at all
[10:19] {Threei}  why not get out when it lost support?
[10:20] {Threei}  SLW 1:1, half out
[10:20] {ese} don't say that
[10:20] {rambler} I was waiting for your call...I thought you were in.....
[10:20] {Threei}  come on, even if no comment in time as stock moves too fast, it loses suppoert - why stay in?
[10:21] {Threei}  .90 - .95 zone was support
[10:21] {Threei}  it borke it, get out
[10:21] {rambler} daily chart looks o.k......could be a good swing....
[10:22] {rambler} could be worse
[10:22] {Threei}  that's rationalization
[10:22] {rambler} I know...
[10:22] {Threei}  long term account is a cemetery of day trades gone bad
[10:22] {dino} i like that
[10:23] {rambler} Sorry, I guess I'm having trouble following the setups....
[10:23] {dino} not taking a loss will eat your soul bro
[10:23] {Threei}  back away then,
[10:23] {Threei}  take your time to get familiar with them
[10:23] {Threei}  most of them are very standard
[10:24] {Threei}  if there is no special comment about some difference in play, then it's cookie-cutter trade
[10:24] {ese} rambler.......i'm know it's 7:30 am here but get the whiskly out.......i'm commin to see ya
[10:24] {RonS} gdot v sm l .80
[10:24] {rambler} sounds good....
[10:24] {Threei}  and those are managed by standard procedure
[10:24] {Threei}  support, resistance,
[10:24] {Threei}  break of resistance is entry,
[10:24] {Threei}  break of support is stop or invalidation,
[10:25] {Threei}  1:1 is take scalp or partial out and trail stop
[10:25] {Threei}  etc
[10:25] {dino} tns sm l .50
[10:26] {Threei}  look at SLW on the last call
[10:26] {rambler} all good, after yesterday I cut all lots in half.....
[10:26] {Threei}  .20 support, break of it is short entry,
[10:26] {Threei}  .30 resistance,
[10:26] {Threei}  thus 1:1 is reached at .10
[10:26] {Threei}  scalpers took profit there, day traders partialed and trailed stop to above .20
[10:27] {Threei}  if it tanks further, 43 will be 1:2 for 1/4 more out
[10:28] {dino} hsft sm l .60
[10:28] {Threei}  (LB) US military official highlights challenge of establishing a no fly zone in Libya; France military official rules out military action against Libya without a UN mandate
[10:28] {Threei}  - Note: This echoes similiar sentiment from other countries about creating a no fly zone to help dissuade the Libyan Govt from bombing its citizens
[10:29] {RonS} hsft has mags type spread
[10:29] {dino} you mean iraq. hundreds of thousands killed
[10:29] {strider} short cover fcx =.10
[10:29] {strider} +.10
[10:30] {Threei}  SLW 1:2, 1/4 more out
[10:30] {Threei}  stop to above .10
[10:31] {ese} does it ever ron
[10:31] {strider} +.06 x short
[10:31] {Threei}  SLW 1:3
[10:32] {Threei}  out +.31
[10:32] {dino} 1319 gap fill
[10:32] {dino} 2313, 1306 next
[10:34] {RonS} out gdot .80 to .40  +.60  thanks dino
[10:35] {dino} gj
[10:35] {dino} toughie
[10:36] {RonS} hsft sm l 21.60
[10:39] {Threei}  X is not making new lows with market
[10:39] {Threei}  let's see if we can find long on it
[10:39] {ese} nice trade gdot Ron
[10:40] {dino} rovi sm l .26
[10:40] {Threei} Long Setup:  X  .35 break
[10:40] {Threei}  1:1 faster than I could post stop level
[10:41] {RonS} got tns .48 to .64 +.16  thanks dino
[10:41] {dino} gj
[10:42] {ese} dino "junior"
[10:42] {dino} he makes more than i on my calls
[10:42] {ese} ya whats with that
[10:42] {dino} not right
[10:42] {Threei}  1:2, out in full
[10:43] {dino} out gdot .42, +.42
[10:43] {ese} lol
[10:45] {RonS} dino, ese...Level 2 and T&S seems to give me more clarity on these pulpy thinnies
[10:46] {dino} yes
[10:46] {rambler} out X
[10:46] {ese} yup
[10:47] {Threei}  how did you play it rambler?
[10:47] {dino} nice to see the "pulp" word
[10:47] {ese} fiction?
[10:47] {RonS} seem to be able to tell when the buyers are just waiting to suck in the sellers for better prices
[10:48] {rambler} got a little back on the bounce...small loss...
[10:48] {ese} thats a good out
[10:49] {Threei}  so, you treated it as separate play, but used it to diminish a loss of a first entry, dumping both positions into bounce? did I get it right?
[10:51] {_cabogordon} good morning fromm sunny cabo san lucas
[10:51] {ese} L avgo .19
[10:51] {ese} 1/2
[10:51] {dino} hbc sm l .50
[10:51] {Threei}  morning cabo
[10:52] {patience} vad, may we please have shish kabob party at cabogordon's house?
[10:52] {Threei}  why ask me... it's his house
[10:52] {Threei}  I am ready to aprty wherever
[10:53] {_cabogordon} how about some lobsters and beers
[10:53] {patience} beer works   :)
[10:53] {ese} cabo ......where do you live
[10:53] {dino} of course
[10:54] {_cabogordon} cabo san lucas on the moutain behind costco
[10:55] {dino} out rovi .69, +.43
[10:55] {jfjf64} nice dino
[10:55] {ese} lol
[10:55] {dino} thx got lucky
[10:55] {patience} full lot, goldcorp added
[10:56] {ese} below the 19th hole(extra hole on the Bear Mountain golf course?
[10:59] {ese} avgo ....room to run
[10:59] {Threei}  LVS
[11:00] {Threei}  watching for pullback to 45 for long entry
[11:02] {RonS} ...plus dino and ese...3i has trained me to do the above...
[11:02] {_cabogordon} what is 3i
[11:02] {RonS} pullback for entry...no chasing
[11:02] {_cabogordon} third eye, da
[11:02] {Threei}  LVS
[11:03] {Threei} Long Setup:  LVS  45 break
[11:05] {RonS} ...the only time i chase is on ese trades but most of the time they are +.20 by the time he gets around to post so the are goners
[11:05] {Threei}  lol
[11:07] {Threei}  let's keep .94 stop from here
[11:07] {Threei}  went to .07, not enough to get out
[11:07] {Threei}  stopped
[11:09] {Threei}  X, two-sided setup
[11:09] {Threei}  .70 break short
[11:09] {Threei}  .80 break long
[11:13] {Threei}  1:1
[11:13] {Threei}  half out
[11:13] {Threei}  scalpers know what to do
[11:14] {RonS} got x short .72 to .58  +.14 thanks 3i
[11:14] {Threei}  :)
[11:14] {Threei}  1:2
[11:14] {Threei}  out in full
[11:14] {dino} gj
[11:14] {Threei}  ty
[11:14] {Threei}  things start impove a bit
[11:15] {Threei}  morning volatility is all but impossible to manage, gotta get back to "no trades first 10 min" policy
[11:15] {RonS} rambler...X rarely goes straight in one direction.  Here I waited for break and re-test for entry
[11:16] {dino} i need to wait until 10:00
[11:17] {Threei}  with volatility your favorite stock display, I would have waited till next millenia, lol
[11:21] {nemo} agu might be a short here
[11:24] {dino} out hbc .78, +.28
[11:24] {nemo} wow, not as dumb as I look
[11:24] {strider} short X .60, out .41 +.19
[11:25] {rambler} putting out fires.....back in the saddle.......
[11:25] {rambler} did I miss all the good trades....?
[11:25] {nemo} yeah, vad went home
[11:25] {Threei}  lol
[11:26] {rambler} perfect......LOL
[11:26] {Threei}  just one, ranbker, X short
[11:26] {Threei}  rambler, sorry
[11:26] {Threei}  somewhat unusual in that it was two-sided setup
[11:27] {rambler} are you still in...?
[11:27] {Threei}  no
[11:28] {Threei}  wasn't intended as "milk trade"
[11:28] {Threei}  and secondary setup on .50 breakdown never formed right
[11:32] {Threei}  The Goldman Sachs Group Inc Ticks lower following reports the SEC has filed suit against a director on insider trading charges - financial press
[11:34] {Threei}  market looks like going for breakdown
[11:34] {Threei}  looking for shorts into bounce
[11:35] {dino} out rp .19, +.29\
[11:36] {RonS} got rp for 23.80 to 24.22  +.42  thanks dino
[11:36] {rambler} G1....
[11:36] {Threei}  (EU) EU's Rehn: Believes there will be broad eurozone support for national fiscal rules
[11:36] {strider} fcx
[11:36] {Threei}  national? or unified?
[11:37] {_iamspartacus} dow 12, 200 support
[11:37] {_iamspartacus} dow gravitating to it
[11:37] {_iamspartacus} to stay above at close 12,200
[11:37] {Threei}  fo SPY, it seems to be 130
[11:37] {dino} gj ron
[11:38] {Threei}  if/when it comes to it, it's going to be a decisive moment
[11:38] {dino} yes, as in lunch now or in an hour
[11:38] {Threei}  hold it, bounce and resume rally, or break it and change the major trend
[11:38] {_iamspartacus} yes
[11:38] {Threei}  that's from daily
[11:38] {Threei}  not for today
[11:39] {_iamspartacus} personally, i dont see major reversal of trend until fed stops qe
[11:39] {_iamspartacus} or until people start to see the end
[11:39] {Threei}  I am talking about charts... you - about events
[11:40] {Threei}  different animals
[11:40] {_iamspartacus} yes
[11:40] {_iamspartacus} but the two feed into one another
[11:40] {Threei}  and don't forget,
[11:40] {_cleto} nvax  giving it all back , nearly
[11:40] {_iamspartacus} charts are independent of events to some relative degree
[11:40] {Threei}  if it's that obious, it must start be factoring in the price before actual event
[11:40] {_iamspartacus} not absolutely
[11:40] {_iamspartacus} yes
[11:40] {Threei}  otherwise it would be sooo simple... read th paper, take position
[11:40] {_iamspartacus} but its not obvious yet
[11:41] {Threei}  everyone who can read would be a zillionare in no time
[11:41] {_iamspartacus} we're talking probabilities
[11:41] {_iamspartacus} of course
[11:41] {_iamspartacus} not certainties
[11:41] {Threei}  why not? link between QE and market going up is established by every media including Playboy
[11:42] {_iamspartacus} playboy?
[11:42] {_iamspartacus} ok
[11:42] {Threei}  kidding :)
[11:42] {Threei}  but the idea that market will reverse the day QE stops is widely accepted
[11:42] {_iamspartacus} but im not fighting the fed, 90 billion per month is a huge fight to take on
[11:43] {_iamspartacus} yes
[11:43] {_iamspartacus} fairly widely accepted.  its not a secret
[11:43] {Threei} Short Setup: LVS  .10 break
[11:44] {Threei}  if stays under .20
[11:46] {Threei}  not a scalp for me
[11:46] {Threei}  milk trade
[11:47] {Threei}  1:1
[11:47] {Threei}  half out .93
[11:47] {Threei}  stop to .11
[11:49] {Threei}  next target is closer to .80, and then .65 or so
[11:49] {_cleto} so milk= good to the last  drop   lol
[11:49] {Threei}  ",ilk it for all it has" :)
[11:49] {_cleto} nice one again
[11:50] {RonS} oil spiking
[11:50] {Threei}  and for a change, easy to execute
[11:50] {Threei}  crap... had X short at .25 break in mind too, and LVS started dropping so fast, got totally distracted
[11:50] {gregns} tks for lvs
[11:51] {Threei}  welcome greg
[11:51] {gregns} nemo, thks for agu, took it two times
[11:52] {nemo} hehehehe...bit of a spread though
[11:52] {Threei}  two times? do as jf does when takes my call with double position... he says TY TY
[11:53] {Threei}  1/4 out .81
[11:54] {Threei}  stop to 44.01
[11:54] {Threei}  works just as planned
[11:54] {Threei}  rambler, this is day-fixing trade... tell me you took it
[11:54] {rambler} you bet...
[11:54] {gregns} how about ty ty and TY !
[11:55] {Threei}  lol.. that'll work
[11:55] {gregns} hallelujah !
[11:55] {rambler} that's how its supposed to work...
[11:55] {Threei}  1:4 LVS
[11:56] {Threei}  yes sir... you get your butt whopped, you stay calm and cold-blooded like mackerel, wait for your right trade to come along
[11:56] {Threei}  and strike
[11:56] {Threei}  LVS, last target is hit
[11:56] {Threei}  out
[11:57] {Threei}  day is positive
[11:57] {Threei}  ain't it pure unbridled unconditional beauty
[11:57] {Threei}  cleto.. this is milk trade in its full glory
[11:58] {Threei}  even 1:5 was covering too soon, lol
[11:58] {_cleto} fully understood captain
[11:58] {_cabogordon} nice call on LVS
[11:58] {Threei}  glad we fixed that horrendous morning
[11:58] {Threei}  3 stops in a row, yeecch
[11:58] {_cleto}  i was  kind of discouraged myself
[11:59] {Threei}  as far as I am concerned, I take it with no emotions in my own trading,
[11:59] {Threei}  but calls for the room - this is where I feel pressure
[12:01] {jfjf64} russian with a  heart   nice
[12:01] {jfjf64} lol
[12:02] {rambler} just do what you do Vad, it's my interpretation of the calls where I get into trouble...
[12:02] {Threei}  well, every time we run out of vodka...
[12:02] {rambler} things go downhill....
[12:03] {Threei}  well, I prefer you to interpret them as they are intended... :)
[12:03] {rambler} I just need an 'In' and an 'Out'....
[12:04] {kschun} hello all, today I am early
[12:04] {kschun} hope day was o.k. until now?
[12:04] {nemo} speaking of H1N1
[12:05] {Threei}  hey ks
[12:05] {Threei}  just finished a good one... LVS short
[12:06] {kschun} ah great stuff! entry was below .60?
[12:06] {Threei}  this last one was 44.10
[12:06] {Threei}  with cover 43.60
[12:07] {kschun} ah see, great stuff man!
[12:07] {kschun} mr. money :-)
[12:07] {Threei}  hey, no one tells ks about stops in the morning, OK?
[12:07] {kschun} LOL
[12:07] {Threei}  let him stay delusional :)
[12:07] {kschun} I am always delusional :-)
[12:08] {Threei}  so we won't ruin it for you
[12:08] {rambler} "roll another one....just like the other one......"
[12:08] {Threei}  LVS actually starts looking like aother short opportunity
[12:08] {Threei}  let's see if clean setup forms here
[12:08] {nemo} Little Feat
[12:08] {strider} I wish you'd pick another stock....can't short LVS here.
[12:09] {Threei}  ugh
[12:09] {nemo} Well, there was agu
[12:09] {strider} I don't want to agu with you, nemo.
[12:09] {Threei}  rofl
[12:09] {nemo} swords at 20 paces
[12:15] {_cleto} test
[12:16] {strider} written or oral?
[12:17] {_cleto} got me
[12:17] {Threei}  (US) Fed's Bernanke: Fed policy does not debase the USD; reiterates continuous review of QE2 - Q&A- It is not practical to return to the Gold standard
[12:17] {_cleto} thought i was listening to a  football game  there for  a moment
[12:17] {Threei}  no, Fed policy does not debase USD
[12:18] {RonS} twgp blood dino
[12:18] {_cleto} twgp
[12:18] {Threei}  repeat that three times every morning, spitting over your left shoulder and chewing the bone from left ear of a bat collected on full moon
[12:19] {dino} watching it, stopped on it earlier
[12:19] {dino} also watching, rovi, hsft, fosl, deck
[12:20] {Threei} Short Setup: FCX  .75 break
[12:20] {Threei}  if stays under .85
[12:23] {strider} .73 is lod
[12:23] {kschun} lod?
[12:23] {kschun} sorry...
[12:23] {kschun} low of day?
[12:23] {strider} fcx
[12:23] {Threei}  invalidated
[12:24] {Threei}  yes strider, idea was:
[12:24] {Threei}  not very aggressive entry in terms of being far from lod,
[12:24] {Threei}  but some aggressiveness in order to get easier fill
[12:24] {strider} gotcha
[12:25] {Threei}  and if .75 was broken, there was a very little chance for .73 to hold
[12:31] {dino} deck sm l .32
[12:33] {ese} I miss anything
[12:34] {dino} fosl sm l .28 ave
[12:34] {nemo} see if we get a right side shoulder on spy
[12:35] {kschun} @dino: could you may just tell what "sm l .28 ave" means?
[12:35] {kschun} sorry
[12:35] {nemo} sm=small l=long .28=price ave=average
[12:35] {nemo} sm=400 shares
[12:35] {kschun} o.k. thanks!
[12:36] {nemo} dino prefers boxers
[12:37] {dino} yw
[12:41] {nemo} if spy heads north iwm and tna should...lookin' iwm above .44
[12:41] {Threei}  ok, little distraction to lift the mood before we look for the next one
[12:41] {Threei}  http://photography.realitytrader.com/2011/02/butterfly-gardens.html
[12:43] {jfjf64} happy  hour
[12:43] {jfjf64} lol
[12:43] {jfjf64} very nice
[12:43] {Threei}  :)
[12:44] {dino} out deck .69, +.37
[12:44] {RonS} gj
[12:44] {dino} ty
[12:44] {dino} missed twgp, hsft
[12:45] {dino} rovi sm l .20
[12:47] {patience} out of slw...my trailing stop got picked up...had a terrific run on it
[12:47] {dino} gj
[12:47] {patience} concentrating on Goldcorp play
[12:47] {patience} thanks dino
[12:47] {patience} remarkable day
[12:47] {dino} ;)
[12:47] {kschun} nice photos vad
[12:50] {Threei}  ty
[12:54] {rambler} Vad, that X play....yes, I bought additional on your long call, so almost b/e on that one....lucky
[12:54] {Threei}  :)
[12:54] {Threei}  LVS
[12:54] {dino} took awhile, out tns .79, +.29
[12:54] {Threei}  watching for long on this opullback
[12:55] {dino} sm l twgp .11
[12:59] {dino} rovi stopped -.30
[13:01] {kschun} VTR loosing support
[13:01] {kschun} will not gona try it
[13:03] {rambler} good spot for LVS...any time now....
[13:03] {Threei}  yes, watching
[13:03] {Threei} Long Setup:  LVS  .30 break
[13:04] {Threei}  if holdin .20 for scalpers, .15 day traders
[13:05] {dino} out fosl .27 -.01
[13:08] {_cleto} out of  lvs.. small  loss
[13:08] {dino} cedcapp lod
[13:08] {Threei}  yeah, not clear still
[13:09] {_cleto}  cedc might be   a good one  for the cemetery  but waiting for below 15
[13:10] {dino} fosl tricked me
[13:11] {dino} deck sm l .90
[13:12] {jfjf64} ya long  lvs
[13:14] {_iamspartacus} lvs still valid?
[13:15] {Threei}  hard to tell
[13:15] {Threei}  let's wait out this period of uncertainty
[13:15] {rambler} out LVS....
[13:16] {jfjf64} was gettin  worried  thought ya playin  with  ya  camera
[13:16] {jfjf64} lol
[13:16] {nemo} spy still holding downward trend lien
[13:16] {nemo} line
[13:17] {Threei}  (US) US Govt regulators have come to an agreement on future home lending regulations; will require 20% downpayment for qualified residential mortgages, which still must be ratified by congress
[13:17] {Threei}  - CNBC's Olick- Of the 20% downpayment, half must be from the homeowner, and the other half can be a gift
[13:18] {nemo} that's weird
[13:18] {jfjf64} whats  that  gonna  do
[13:18] {nemo} yeah, really
[13:19] {nemo} makes as much sense as a screen door on a submarine
[13:21] {rambler} LVS breaks 43.....bounce here...?
[13:22] {kschun} may long after repush over .10 ?
[13:23] {nemo} what are your internals saying sneeze
[13:23] {Threei}  no
[13:23] {kschun} all short
[13:25] {rambler} needs vol
[13:25] {kschun} adv minus dec showing some sign for bottom, until now nothing that would bring me agressively to the long side
[13:27] {dino} deck stopped -.30
[13:27] {nemo} LVS held that drop
[13:28] {patience} watching goldcorp, someone keeps smacking it down whenever it gets close to 48.40 and huge lot at 48.50 slaps down attempts beyond that
[13:37] {kschun} QCOM nice little consolidation
[13:42] {Threei}  market is no longer feels to me like preparing to bounce
[13:42] {Threei}  rather new lows
[13:43] {nemo} staying under trend on spy
[13:44] {Threei}  LVS new lows
[13:53] {nemo} wow...interesting site studiomultitracks.com
[13:54] {patience} out half G, stop loss for remainder
[14:01] {Threei}  X
[14:01] {Threei}  long off this pullback
[14:01] {Threei} Long Setup:  X  .60
[14:01] {Threei}  stop under .50
[14:04] {Threei}  if missed first time, same setup is valid now
[14:04] {Threei}  as long as holds abive .50
[14:09] {Threei}  no go
[14:13] {Threei} Short Setup: RIMM  .65
[14:13] {Threei}  if stays under .75
[14:14] {_cleto} short at .62
[14:16] {Threei}  1:1
[14:17] {_cleto} chicken,  stepping aside on RIMM with a  scalp
[14:17] {_cleto} ok
[14:17] {Threei}  hey, live chicken is much better than dead lion
[14:17] {_cleto} yessir
[14:17] {nemo} speaking of: saw a great translation of an African saying
[14:18] {nemo} A lion wakes up knowing he won't survive unless he can run faster than the slowest gazelle
[14:18] {Threei}  if there were a didecated traders' cemetery, tumbstones would covered with one standard signature: He was brave trader
[14:18] {nemo} A gazelle wakes up knowing it won't survive if it can't run faster than the fastest lion
[14:18] {Threei}  dedicated too
[14:18] {nemo} So, whether you're a lion or a gazelle, you better start running
[14:19] {nemo} we need the  Les jpg
[14:20] {RonS} what is that?
[14:20] {Threei}  it's where it always was... but it's not as funny without context
[14:20] {Threei}  http://www.realitytrader.com/vad/LES.JPG
[14:20] {RonS} classic
[14:21] {Threei}  RIMM 1:2
[14:21] {rambler} been there...got the pic....
[14:21] {RonS} rimm s .68 to .46  thanks 3i
[14:21] {Threei}  me out in full
[14:21] {Threei}  ron :)
[14:22] {_dukulal} hold on its gonna break 50ma on 3min chart
[14:22] {Threei}  RIMM?
[14:22] {_dukulal} yes
[14:23] {Threei}  breaking
[14:23] {Threei}  I don't want to be in here though
[14:23] {Threei}  a bit overstretched on a short side from .70, and knowing RIMM, snapbacks cab ne extremely vicious
[14:24] {Threei}  also, have a look where RIMM and SPY are in their respective day ranges
[14:24] {Threei}  SPY tests the lows, RIMM bounced to mid range
[14:24] {Threei}  a lot of relative strength in this one today
[14:25] {_dukulal} i moved my stop to 43
[14:25] {_dukulal} ok 40 now
[14:26] {_dukulal} stopped
[14:26] {Threei}  good trail
[14:27] {_dukulal} thanks
[14:27] {Threei}  see the snap? that's what this thing does
[14:27] {_dukulal} bad fill
[14:27] {Threei}  over 20 cents in one breath
[14:27] {_dukulal} yup
[14:28] {_dukulal} probably it will close red
[14:29] {Threei}  most likely, but have to give it points for bravery
[14:29] {Threei}  went up in the rmoning even though market was dropping off a cliff
[14:29] {Threei}  and this bounce from 13:25 selloff was nothing short of stunning
[14:31] {_dukulal} bvn?
[14:31] {Threei}  a bit too narrow
[14:31] {strider} long slw .42
[14:32] {strider} stop .20
[14:34] {_dukulal} target on slw?
[14:34] {strider} I hope you didn't take that trade
[14:35] {_dukulal} i did
[14:35] {_dukulal} 46
[14:36] {strider} you shouldn't take trades without evaluating them by your own standards.
[14:36] {patience} goldcorp trying for high of day again
[14:37] {strider} I post these for my benefit only.
[14:37] {_dukulal} out
[14:37] {_dukulal} nice scalp
[14:38] {Threei}  {strider} I post these for my benefit only {--- what kind of egotistical attitude is thatr
[14:39] {Threei}  altruism is dead
[14:39] {nemo} selfish bastid
[14:39] {nemo} no such thing 3i
06[14:39] * Threei slaps strider around a bit with a large doese of dead altrusim
[14:39] {patience} there we go, ate through massive order
[14:39] {strider} just don't want anyone to lose on my account.
[14:40] {nemo} no pun intended
[14:40] {Threei}  but you aree OK with us losing in ours, right?
[14:40] {nemo} should be spy bounce here a bit
[14:40] {strider} ou t 1/2 .60
[14:40] {RonS} gj
[14:40] {Threei}  wtg
[14:41] {RonS} u selfish bastid...
[14:41] {RonS} :D
[14:41] {strider} stop .50
[14:41] {Threei}  lol, and strider just honestly tried to warn... that'll teach anyone about how good intentions are punished here
[14:42] {nemo} yeah, ask me
[14:42] {strider} sorry, duk.....I've not been doing well today, and it scared me that you had taken my trade.
[14:42] {Threei}  you and good intentions in the same line is the biggest oxymoron I could think of
[14:42] {strider} Normal days, I always win, though.
[14:42] {Threei}  almost as big as me and broccoli in the same line
[14:43] {nemo} yeah, and strider has about 3 normal days a month
[14:43] {RonS} lol
[14:43] {strider} did you have to tell them that?
[14:43] {Threei}  lol
[14:43] {nemo} who you talkin' too?
[14:43] {strider} should have put an asterisk beside the word
[14:45] {strider} I think I should just trade from 11-3.
[14:47] {strider} offer 1/4 .69
[14:47] {_dukulal} i have been trading solely on 3 min bars with 50 sma and candles so far its good for my scalping, Does any one has any idea about improving this
[14:47] {strider} a mightly struggle
[14:47] {strider} mighty too
[14:48] {Threei}  that's way too broad question duk
[14:48] {Threei}  simply referring to a time frame doesn't tell us anything about method
[14:49] {Threei}  what serves as a criteria for entry and exit, what kind of setups you deploy, rismk control, taregts
[14:49] {Threei}  and about 35 other questions
[14:50] {strider} cancel
[14:50] {strider} offer .73
[14:50] {_dukulal} i have a simple method, i put 5..6 stocks on watch list, wait for them to cross below or up 50 sma on 3 min chart. I conform on next candle after crossing
[14:51] {_dukulal} enter the trade and get out with 10 to 20 cents
[14:51] {Threei}  and it works?
[14:51] {strider} out 1/4 .73
[14:51] {_dukulal} most of the time
[14:52] {Threei}  most of the time is good
[14:52] {Threei}  all good approaches work most of the time
[14:52] {strider} I like that.
[14:52] {Threei}  except strider's that works all the time
[14:52] {_dukulal} and i only trade 200 shares
[14:52] {strider} right...
[14:53] {Threei}  but he won't share it...
[14:53] {strider} that's *"all the time"
[14:54] {strider} I just use the 'take all winning trades" button on my computer.
[14:55] {strider} top to .60 slw
[14:55] {strider} stop
[14:55] {_dukulal} pbr
[14:55] {strider} a little early in the day, isn't it?
[14:55] {RonS} ice cold please
[14:57] {nemo} I can't think of a good time to open one of those
[14:57] {nemo} dreck
[14:57] {strider} I agree, nemo.
[14:57] {strider} Unless you need to water the plants.
[14:57] {nemo} it'll kill them
[14:57] {RonS} lol
[14:58] {nemo} I could see serving it to Les if he came to visit
[14:58] {strider} stop slw .58
[14:58] {RonS} rotflol
[14:58] {nemo} qcom looks like it might give up the ghost
[14:59] {strider} trading range
[14:59] {strider} .20
[15:01] {_dukulal} any one analyze pbr
[15:01] {nemo} skunk piss
[15:02] {strider} swamp water
[15:02] {nemo} and that might be insulting the skunk
[15:02] {strider} =Reingold
[15:03] {nemo} looks range bound at the moment duku
[15:04] {strider} If I were going to trade it I'd short, with stopp above .55
[15:04] {strider} but I'm not.
[15:04] {nemo} oh jeez...their are faith based etfs wheres my frickin gun
[15:04] {nemo} there are
[15:05] {nemo} I think qcom loses it
[15:05] {Threei}  X
[15:06] {Threei} Short Setup: X  55 break
[15:06] {nemo} oy vay, whole number breaks
[15:06] {_dukulal} good call on pbr strider
[15:06] {Threei}  if stasy under .15, so adjust shares accordingly
[15:06] {nemo} let me get my hemmrrhoid pillow
06[15:07] * Threei hits x over the head with 2x4
06[15:09] * Threei guides X to the edge of the cliff and pushes it over
[15:09] {strider} I saw that!
[15:09] {nemo} qcom went
[15:09] {Threei}  eyewitness??
[15:10] {strider} pbr went
[15:10] {strider} for a price
[15:10] {nemo} indexes went
[15:10] {strider} but did X go?   noooooooooooooo.......
[15:14] {nemo} hey, Vad, better step on the fingertips
[15:15] {Threei}  whatever it does from here, let's trail stop
[15:15] {Threei}  .05
[15:16] {Threei}  market is down a lot
[15:16] {Threei}  don't want to get caught in snapback
[15:17] {nemo} it's at the bottom of the gap from 25th, way below s3 snap back very likely
[15:17] {Threei}  (LB) US Defense Sec Gates: Sending two amphibious ships with Marines to the Mediterranean Sea in order to aid with any evacuation or humanitarian needs
[15:17] {Threei}  - Official: Seeing no agreement among NATO members on what actions to take to deal with Libya. Imposing no-fly zone in Libya would be complicated.
[15:17] {nemo} However, spy and IWM yet to break downtrend
[15:18] {Threei}  got a bit greedy, should have just taken a scalp
[15:18] {Threei}  feels like market reversal is coming
[15:18] {kschun} yeap, good prob. for reversal
[15:18] {nemo} I'm betting .40 into the close
[15:19] {strider} long slw .52
[15:19] {Threei} Long Setup:  RIMM  .45 break
[15:19] {Threei}  if stays above .35
[15:19] {Threei}  not a scalp
[15:19] {Threei}  can do .70 - .80 easy
[15:20] {Threei}  let's partial along the way though
[15:20] {strider} in .47
[15:20] {Threei}  stop under .35, first partial's around .60
[15:20] {Threei}  scalpers need no instructions
[15:22] {Threei}  1:1
[15:22] {nemo} WOW mos
[15:22] {_cleto} rumours again
[15:22] {Threei}  takeover speculation
[15:22] {_cleto} on MOS
[15:22] {Threei}  BHP as suitor
[15:23] {strider} out 1/2 slw +.10
[15:24] {_cleto} cedc  lowere and lowermnot even app for cemetery now
[15:25] {RonS} watcha expect...polish vodka
[15:25] {nemo} Spirytus
[15:25] {nemo} stuff is brutal
[15:26] {nemo} right up there with Stroh's rum
[15:26] {_cleto} ok.. just  shorted a case
[15:26] {Threei}  lol
[15:27] {_cleto} that is one of teh biggest percentage drops during trading hours u will ever see though
[15:28] {kschun} nice little scalp in RIMM vad
[15:28] {Threei}  realy want more out of it
[15:28] {Threei}  need market to establish uptrend though
[15:28] {Threei}  which is should
[15:28] {Threei}  is = it
[15:29] {nemo} probably end the day around here
[15:30] {strider} 1/4 SLW .62 +.10
[15:31] {kschun} RIMM in triangle
[15:31] {kschun} should break above
[15:31] {kschun} now
[15:31] {Threei}  hope it's not Bermuda Triangle
[15:31] {kschun} big bounce in TICK from -1000
[15:31] {kschun} :-)
[15:32] {strider} 1/4 rimm +.05
[15:32] {strider} lightening up
[15:32] {kschun} seller in it so far
[15:33] {kschun} big sizes traded at the ask
[15:33] {Threei}  how is it seller and not a buyer?
[15:34] {Threei}  someone did buy those big sizes and agreed to pay offer price, right?
[15:34] {kschun} since I observed: bigger sizes traded at the ask
[15:34] {Threei}  gosh CEDC.. maybe vodka really isn't good for you, eh?
[15:34] {kschun} on the ask someone absorbing shares, showing less then he is taking
[15:34] {kschun} mixed signals
[15:35] {kschun} I think it will break
[15:35] {Threei}  huh?
[15:35] {strider} out slw last +.15
[15:35] {_cleto}  4 dollar drop intraday   cedc after gapping down  5.. incredible losses
[15:35] {Threei}  sorry ks, that doesn't make much sense
[15:35] {kschun} why?
[15:35] {Threei}  you listen too much to level 2 gurus
[15:35] {kschun} told you, will try to stop it :-)
[15:35] {Threei}  told you, you bettre
[15:35] {Threei}  this is bs, pure and simple
[15:36] {kschun} bs?
[15:36] {strider} boy scouts
[15:37] {Threei}  substance produce by bulls as a result of digestive process
[15:37] {Threei}  food comes in...
[15:37] {strider} bicarbonate of soda?
[15:38] {Threei}  digestion ensues...
[15:38] {kschun} please re-explain - I am confused :-)
[15:38] {kschun} find some other words then "go in - go out" :-)
[15:38] {strider} what country are you in, ks?
[15:39] {kschun} please do not attack my patriote side
[15:39] {Threei}  guys, who is uncomfrotable golding RIMM this close to eod, just take small scalp here
[15:39] {Threei}  holding too
[15:39] {kschun} no prob
[15:39] {Threei}  I am willing to give it a chance still but my day looks fine either way
[15:40] {Threei}  half out .59
[15:40] {Threei}  as planned
[15:40] {kschun} half out too, at .58
[15:40] {nemo} it should make 66.66
[15:40] {Threei}  offering 1/4 .67 and 1/4 .75
[15:40] {kschun} out rest under .55 if it gets there
[15:40] {Threei}  stop at .39
[15:41] {Threei}  after .60 break will trail to it to .44
[15:41] {Threei}  trailed
[15:42] {strider} out 1/4, .59
[15:42] {strider} 1/2 left
[15:44] {kschun} out rest at.55
[15:45] {strider} +.04 stop bal .
[15:45] {kschun} DNDN nice bounce back
[15:46] {Threei}  ok
[15:46] {Threei}  out RIMM
[15:46] {dino} .,
[15:46] {Threei}  fine end to the day, even though didn''t go to higher targets
[15:46] {Threei}  with ricky start, not too shabby
[15:47] {dino} out twgp .80, +.69
[15:48] {kschun} out FAZ 1:1
[15:48] {RonS} gj...had my best day in six months...thanks guys
[15:48] {kschun} congrats ron!
[15:49] {Threei}  great to hear Ron
[15:49] {dino} wtg ron
[15:49] {RonS} and patience and lari...:)
[15:49] {larisa} :)
[15:50] {patience} :)    awesome day, ty all
[15:51] {Threei}  hey guys, who knows Victoria a little,
[15:51] {_cabogordon} nice day threei
[15:51] {Threei}  there is an iconic hotel in the Inner harbour,
[15:51] {Threei}  Empress Hotel
[15:51] {RonS} yes
[15:51] {Threei}  THE hotel here, total icon
[15:52] {Threei}  starting today, they carry my photobook in their gift store
[15:52] {Threei}  http://www.realitytrader.com/victoria.html
[15:52] {RonS} i like the one attached to the bar...
[15:52] {Threei}  considering how classy the venue is, it's a huge compliment
[15:52] {jfjf64} congrats  3i
[15:52] {Threei}  I mean, if you find a wallet cheaoper than $300 in their stores, i'll be very surprised
[15:53] {patience} very nice....ask for a free room so you can watch the Symphony Splash from there  :)
[15:53] {jfjf64} so its  good  to  say  they   dont  know  thw  real  3i
[15:53] {jfjf64} lol
[15:53] {Threei}  too much clasic music for me
[15:54] {Threei}  they never saw me, jf, my wife spoke with them :)
[15:54] {jfjf64} ha  ha
[15:54] {Threei}  I couldn't find more expensive agent, but I figured she will cost me anyway, so why not
[15:54] {Threei}  market ends at the low
[15:55] {Threei}  maybe topping process finally takes place
[15:55] {jfjf64} they  donttknow  ya  sit  in  front  of  computer  all day  and  eat  bacon
[15:55] {RonS} hope you sell enough to buy her a new Bosendorfer...
[15:55] {Threei}  130 is major support for SPY to break
[15:55] {jfjf64} great   accomplishment   great  pics
[15:56] {Threei}  think asbout it ron... agent that takes 50%, tells you how to spend your 50%, requires you to feed her, give her roof and all other obligations...
[15:56] {Threei}  ty jf
[15:56] {Threei}  vodka finally bounces a little
[15:56] {Threei}  CEDC I mean
[15:56] {rambler} book looks great Vad, congradulations....
[15:56] {Threei}  ty
[15:56] {Threei}  actual copy looks stunning
[15:57] {Threei}  local print shop, did fantastic job
[15:57] {Threei}  100 years old company, believe it or not
[15:57] {Threei}  Ok guys, thank you all
[15:57] {Threei}  have a great evening, see you tomorrow
[15:57] {larisa} bye all
[15:57] {Threei}  and tomorrow we will ake some corrections to the open strategy
[15:57] {Threei}  to avoid those rinses
[15:58] {Threei}  I have to leave right now, so log with Catch of the Day will be posted later
[15:58] {rambler} had 2 french photographers on my boat this fall, looking for wolf shots.... Prince Rupert area....
[15:58] {Threei}  but check it out, nice chart there
[15:58] {jfjf64} ty
[15:59] {rambler} cya, thanks Vad et all
[16:04] {dino} well, we filled 1308, and 2313
[16:05] {kschun} dino did you recieve my message?
[16:17] {dino} yes, let me go there, sorry tech guy was here
[16:17] {dino} hmmm, guess he's gone