Wednesday, March 2, 2011

Mar 02 2011

Fair day with enough winning trades to make it worth waking up.

Session Time: Wed Mar 02 00:00:00 2011
[08:43] {_cabogordon} good morning
[08:43] {nemo} yet to be determined
[08:43] {Threei}  Good morning
[08:44] {Threei}  nemo the optimist
[08:44] {nemo} no...cabo is the optimist...i'm the realist
[08:58] {jfjf64} mornin
[08:59] {Threei}  jf :)
[09:00] {dino} gm all
[09:00] {Threei}  dino :)
[09:00] {RonS} howdy all
[09:00] {Threei}  ron :)
[09:02] {RonS} did ya see that jpm took delivery of close to a million pounds of sugar off expiring futures contracts?
[09:02] {jfjf64} sweet
[09:02] {Threei}  (US) FEB ADP EMPLOYMENT CHANGE: 217K V 180KE- Prior revised higher from +187K to +189K
[09:02] {Threei}  lol jf
[09:03] {jfjf64} my one  liners  came long  way  since  being in  room
[09:05] {jfjf64} dino
[09:05] {jfjf64} you use  swarb
[09:05] {RonS} to wash decks?
[09:06] {jfjf64} lol
[09:06] {Threei}  lol
[09:06] {jfjf64} new platform   just launched
[09:07] {dino} yes jf
[09:07] {jfjf64} did  ya get  chance  to  check  out yet
[09:08] {dino} not yet
[09:09] {rambler} goodmorning...
[09:09] {larisa} gm :)
[09:10] {Threei}  rambler, larisa :)
[09:10] {dino} be back in hour or so
[09:13] {RonS} def of equivocation:  Torstar May Get a Lift from Higher Quarterly Operating Profit, But Lower Net Income May Weigh       03/02 07:12 AM
[09:13] {Threei}  lol
[09:13] {RonS} did kschun write that?
[09:16] {Threei}  (EG) Two US assault ship reported to have passed through the Suez Canal, arriving in the Mediterranean - Suez Canal official
[09:18] {Threei}  New Hampshire is my favorite state
[09:19] {Threei}  their new bill announces touching people's private without probably cause "a sexual assault"
[09:19] {Threei}  effectively outlawing TSA searches
[09:20] {Threei}  we have hurricane strength wind warning
[09:20] {Threei}  in the past, such windstorms often led to power interruptions
[09:21] {RonS} u got backup power?
[09:21] {Threei}  not for long
[09:21] {Threei}  and last time I changed battery in my UPS was, ummm
[09:21] {Threei}  never mind... if I suddenly disappear, yo know why :)
[09:22] {strider} you blew away
[09:22] {Threei}  and landed in Cansas
[09:22] {strider} with a K
[09:22] {Threei}  crashing some nasty-looking woman, with warts et all
[09:23] {magoo} morning
[09:23] {Threei}  mags :)
[09:23] {strider} we had those winds night before last.
[09:23] {strider} rain was horizontal
[09:23] {nemo} so what's your strategy Vadster
[09:23] {ScottM} morning
[09:24] {Threei}  scott :)
[09:24] {Threei}  hunker down, plug my ears and wait till wind is over, nemo
[09:24] {Threei}  oh, you mean market...
[09:25] {Threei}  skipping "normal" setups during opening volatility,
[09:25] {nemo} so, what's a non "normal" setup?
[09:25] {Threei}  for the firsat 10-15 min I am interested only in reversals of extreme moves,
[09:25] {nemo} ahhh
[09:25] {Threei}  extreme being way more than usual and then a bit more
[09:26] {Threei}  those are still prone to rinsing, so let's keep size down for this kind
[09:26] {Threei}  after that, slowly returning to more traditional setups
[09:27] {Threei}  keeping losses small and looking for "milk trade" that would make a day profitable to a degree of armour-protected
[09:31] {ese} mornin....poped in to say hi but am probably going right back to bed.....feel like death warmed over....some flu thing
[09:31] {Threei}  X makes sharp upward move
[09:31] {Threei}  sorry to hear ese
[09:32] {Threei} Short Setup: SLW  .75 break half lot
[09:32] {Threei}  if stays under .85
[09:33] {Threei}  1:1
[09:34] {_cleto} 1:1  means please?  sell all? or
[09:35] {Threei}  1:2
[09:35] {nemo} no, it means you reached 1:1 risk reward ratio
[09:35] {nemo} you can partial there, or take as scalp
[09:35] {_cleto} thx
[09:35] {Threei}  depends on your personal risk tolerance and objectives - scalpers trake profit around 1:1, day traders partial and trail stop to b/e
[09:36] {_cleto} 1; 2?
[09:36] {Threei}  if I feel strongly one way or another, I'll add coresponding comment
[09:36] {nemo} twice risk cleto
[09:36] {_cleto} got it
[09:36] {nemo} so ie you risk .10, you've made .20
[09:36] {Threei}  1:2 - scalpers sigh and regret they closed trade at 1:1; day traders covcer 1/4 more
[09:37] {Threei}  ok, here goes X push for extreme move
[09:37] {_cleto}  going from espresso to cappuccino
[09:37] {Threei}  SLW hit 1:3 earlier, I assume no one is in anymore
[09:38] {magoo} nice vads
[09:38] {davd} wti dropping toward 100, off premarket highs
[09:38] {Threei}  that's nothing mags, you should see my a** whopped yesterday morning
[09:39] {Threei}  recovered later, but got royal whipping first
[09:40] {magoo} sorry i missed it
[09:40] {strider} they're making it into a movie.  Be out in the fall.
[09:40] {Threei}  lol
[09:40] {Threei}  X is preparing for another jump it feels
[09:41] {Threei}  yup, here it is
[09:41] {magoo} X tends to trend all day, when strong, hard to short...when weak, hard to go long even for scalps
[09:44] {nemo} spy just about at trend .40 would be the next test
[09:44] {nemo} poor charlie sheen took his twin two year olds away last night
[09:45] {nemo} Don't know full of coke and porn stars
[09:45] {Threei} Short Setup: X  .90 break
[09:45] {Threei}  half lot
[09:45] {nemo} sounds like a great environment
[09:45] {Threei}  ummm
[09:45] {Threei}  anyone got it, feel free to cover, lol
[09:45] {nemo} that was a hurdle break
[09:46] {Threei} Short Setup: RIMM  .20 break
[09:46] {_iamspartacus} ok dow, spy, x
[09:47] {Threei}  sprwead is jumpy, half lot
[09:48] {_iamspartacus} thanks
[09:51] {nemo} invalimudated?
[09:51] {Threei}  yes, but stays on radar
[09:52] {Threei}  X, two-sided setup
[09:52] {Threei}  .90 - 56
[09:52] {Threei}  half lot either way
[09:53] {Threei}  got it long on second chance
[09:54] {magoo} what price?
[09:55] {nemo} .00 break
[09:55] {Threei}  1:1
[09:55] {Threei}  [09:52] {Threei} X, two-sided setup
[09:55] {Threei}  [09:52] {Threei} .90 - 56
[09:55] {Threei}  original break I missed oln execution, too 56 on pullback
[09:56] {Threei}  took
[09:56] {magoo} vad, are u laying out and waiting at 1:1 or striking 1:1?
[09:56] {Threei}  in this case, laid out
[09:56] {Threei}  too volatile, want it to be there into spoike
[09:56] {magoo} how about slw trade, same question
[09:57] {strider} sh fcx .71
[09:57] {Threei}  when we get nice smooth sustainable move and I try to milk it, I rather prepare order but execute manuall
[09:57] {Threei}  SLW, same, morning volatility
[09:57] {magoo} ok, just wondering since some are tough to fill
[09:57] {Threei}  yes, that's why that morning warbning,
[09:58] {Threei}  and some are nearky impossible, like that first X short
[09:58] {magoo} whats warbring mean?
[09:58] {nemo} It means Vad can't type
[09:58] {Threei}  it's like warning, only accompanied by hit over the head with frying pan
[09:58] {larisa} same as nearky
[09:58] {magoo} me neither, i spelled it riong too lol
[09:59] {Threei}  yeah, look who is talking... couldn't even retype my error correctly :)
[09:59] {Threei}  I meant korreqtly
[10:00] {nemo} a friends, who had out some souvenirs of his father who served in Germany after WWI
[10:00] {nemo} He had old Weimar money
[10:00] {nemo} I held in my hand a 5 million mark coin and a 500 million mark bill...scary
[10:00] {Threei}  X 1:2 who held it
[10:01] {rambler} was it in a wheelbarrow....?
[10:01] {nemo} no single coin single bill
[10:01] {nemo} back then towns also issued their own currency
[10:01] {nemo} they usually had expiration dates
[10:01] {Threei}  no millions in one bill, but I rememer 100,000 bills well from USSR collapse hyperinflation times
[10:02] {RonS} got X .01 to .26  thanks 3i
[10:02] {Threei}  1:3 X, be out
[10:02] {Threei}  ron :)
[10:03] {_cleto} sorry , but didnt undersatnd this trade..on x  .. 90 break  it was above that no?
[10:03] {nemo} two way, means long or short
[10:03] {nemo} .90 break would be short
[10:03] {RonS} 56.00 long, .90 break down is short
[10:03] {nemo} .00 break broke long in this case
[10:03] {RonS} two-sided
[10:03] {_cleto} oh i missed  the word  earlier.. okay...
[10:03] {nemo} yeah it's a bi-trade
[10:03] {strider} stop fcx -.05
[10:04] {nemo} but there's nothing wrong with that
[10:04] {Threei}  wow
[10:04] {Threei}  RIMM
[10:04] {strider} -.06
[10:04] {Threei}  wtd
[10:04] {RonS} aapl having that intro...maybe it's a dud
[10:04] {nemo} small caps not following spy
[10:05] {Threei}  there were two calls on it, cleto
[10:05] {Threei}  first:
[10:05] {Threei}  [09:45] {Alert} Threei Short Setup: X .90 break
[10:05] {Threei}  second:
[10:05] {_iamspartacus} I just want 1 successful trade today
[10:06] {Threei}  [09:52] {Alert} Threei X, two-sided setup
[10:06] {Threei}  [09:52] {Alert} Threei .90 - 56
[10:06] {patience} half lot Goldcorp
[10:06] {Threei}  you didn't take SLW short or X long?
[10:07] {_iamspartacus} sorry
[10:07] {_iamspartacus} was away
[10:08] {Threei}  so day just started
[10:08] {magoo} id slap u, but vad revoked my slapping priviledges
[10:08] {magoo} go figure?
[10:08] {Threei}  I have a contender for Daily Dose of Idiocy:
[10:08] {Threei}  (US) US Rep Frank: Fed should keep open the possibility of QE3 following recent oil price move
[10:09] {_iamspartacus} :)
[10:12] {Threei}  (US) US Rep Frank: Fed should keep open the possibility of additional bond purchases following recent oil price move; negatives of QE2 have been 'overblown'
[10:12] {Threei}  - Calls oil price speculation a 'real' problem, has moved from purely theoretical
[10:16] {patience} bought u.s. dollars, watching for a bounce up, may be early  :)
[10:18] {RonS} took gg .10 to .38  thank you patience
[10:18] {Threei}  watch RIMM here, if dives under .60 will be long with .60 recross back up as long as stays above .50
[10:20] {patience} nice bounce...will let it run
[10:21] {nemo} imp spy breaks .45 goest to .85
[10:22] {Threei}  RIMM invalidated
[10:22] {jfjf64} had the  look 4  min
[10:22] {Threei}  will be interested in bounce from under .40
[10:22] {patience} remember i'm on the toronto exchange and Goldcorp doesn't trade exactly the same way down south
[10:22] {RonS} and if spy doesn't does that mean it has given up the goest?
[10:23] {Threei} Short Setup: LVS  .75 break
[10:23] {nemo} no, but it's run a channel since pre market and faces resistance at .40-45
[10:23] {nemo} you also have a range that could develop
[10:24] {Threei}  too fast or anyone got it?
[10:25] {Threei}  1:1
[10:25] {strider} can't short
[10:25] {rambler} no
[10:25] {RonS} ...i take responsibilites for my own trades...this had a .11 stop and seeming 49.00 support
[10:25] {Threei}  ugh RIMM
[10:25] {RonS} but thanks for the info
[10:25] {Threei}  missed being busy with LVS
[10:26] {_iamspartacus} ok
[10:26] {Threei}  grrr... perfect bounce from under .40
[10:26] {_iamspartacus} watching lvs
[10:28] {RonS} oil report soon
[10:28] {Threei}  2 min
[10:29] {Threei}  (GE) German press reports shots fired at Frankfurt Airport, two people reported injured, possibly two dead- Follow up: Reports indicate the attack was on a bus for US soldiers.
[10:30] {nemo} I remember walking into the Frankfurt airport around Xmas 1988..
[10:30] {RonS} Libyans?
[10:30] {nemo} Instead of the usual Polizei with 9mm sub-machine guns
[10:30] {nemo} they had army and armored personnel carriers IN the airport
[10:30] {Threei}  (US) DOE CRUDE: -360K V +1ME; GASOLINE: -3.6M V 0.0E; DISTILLATE: -750K V -1ME; UTILIZATION: 80.9% V 79.8%E
[10:30] {nemo} two days later the Lockerbie incident that originated in Frankfurt
[10:30] {_iamspartacus} armoured carrier only for El Al
[10:30] {_iamspartacus} these days
[10:31] {RonS} no response in oil since AIA report last night nailed this drawdown
[10:39] {_cleto} test
[10:39] {_cleto} written
[10:39] {davd} nemo gets no credit for .45 - it was oil dropping
[10:41] {Threei} Short Setup: X  .65 break half lot
[10:41] {Threei}  if stays under .75
[10:42] {davd} nymex lower than 100 after report
[10:42] {Threei}  Research in Motion Ltd Plans to launch PlayBook tablet computer on April 10th - Boy Genius Report, citing sources ***Note that there have been other blog reports suggesting that Office Depot is expected to sell the BlackBerry PlayBook tablet PC for $500.
[10:43] {_iamspartacus} which report davd
[10:44] {davd} weekly oil report - every wedn at 10:30   it is a big oil market mover
[10:44] {Threei}  X was 1 cent away from 1:1... let's trail stop to above .70
[10:44] {Threei}  want to keep risk tightly controlled
[10:44] {_iamspartacus} thx
[10:45] {Threei}  out
[10:45] {rambler} out X
[10:47] {RonS} Mr. Milkman...sang to Mr. Postman tune...the sooner the betta..
[10:48] {Threei}  now, this is interesting
[10:48] {Threei}  (US) Fed's Bernanke: US could see sharp interest rate increases if the deficits stay on an unsustainable path - Q&A- Affirms the rescues of financial companies were profitable for the Fed, no further rescues planned, and the Fed has tools to handle 'too big to fail'
[10:48] {Threei}  rescues of financial companies were profitable for the Fed - did Fed rescue them at their own expense? or taxpayers?
[10:55] {RonS} mdr breakout
[11:00] {rambler} Vad, possible to have some applied tape reading examples, discussion ect during slow times....?
[11:01] {strider} sh fcx .26
[11:01] {Threei}  sure... but my suggestion would be, let's make sure you've gione over all the materials first, both free and otherwise,
[11:02] {Threei}  so we don't start from the very beginning and repeat what is in there already
[11:02] {Threei}  fair?
[11:02] {Threei}  btw, everyone had a look at yesterday COTD?
[11:03] {rambler} yes, have read both books and all free materials on the website, probably need to read books again.....
[11:04] {Threei}  if you remember an article on what tape reading is,
[11:04] {Threei}  and noticed somewhat sardonic tone of it
[11:04] {Threei}  that's because I can't hear this anymore, about what we do not being true tape reading
[11:05] {nemo} first spy  target, next is 132.20
[11:05] {Threei}  because in their warped mind to read the tape you must stare at T&S
[11:06] {rambler} ya, I've tried that without much success....
[11:06] {_iamspartacus} i heard wyckoff good tape reader
[11:06] {nemo} he's dead
[11:06] {Threei}  what is teape reading?
[11:06] {jfjf64} lol
[11:06] {_iamspartacus} was
[11:06] {rambler} price and volume action...
[11:07] {_iamspartacus} still might be
[11:07] {Threei}
[11:07] {_iamspartacus} if he's reading tapes
[11:08] {dino}  hitk sm l ave .96
[11:08] {strider} stop .35 fcx
[11:09] {nemo} awful liquid stock for you dino
[11:10] {dino} :D
[11:10] {dino} stop is .74
[11:11] {_iamspartacus} oil like a bouncing ball today
[11:12] {_iamspartacus} phantom of the pitts
[11:13] {nemo} next stop below that dino 18.85
[11:13] {_iamspartacus} learn to be wrong, fast
[11:15] {Threei}  CCME quite a pressure
[11:15] {Threei}  got hit by Muddy waters report
[11:15] {rambler} trade what you see....your chart....price and vol....but does time and sales work in there somehow...?
[11:16] {Threei}  as one piece of mosaic, sure
[11:16] {Threei}  together with level 2
[11:16] {Threei}  you'll see it in scalping video course
[11:16] {rambler} O.K...looking forward
[11:17] {Threei}  look at T&S as a root of everything else,
[11:17] {Threei}  since those are actual prints from which any chart originates
[11:17] {Threei}  but in its raw form it's not very edible
[11:18] {Threei}  no visual presentation, too detailed view not alllowing to see the forest behind the trees
[11:18] {jfjf64} nice 3i
[11:18] {Threei}  gives clue sometimes, but unsuitable as the only or even main source of information
[11:19] {dino} hsft sm l .00
[11:20] {rambler} is it possible to separate Time and Sales by order size.....i.e. one column for under 10 lots and 1 for over...?
[11:20] {Threei}  no idea
[11:20] {Threei}  what would be the point of it
[11:20] {Threei}  why not look at the chart
[11:21] {Threei}  volume is there, combined with price movements
[11:21] {dino} hitk stopped
[11:21] {rambler} seperating possibly dumb and smart money to some degree....
[11:21] {Threei}  you have nice visual and can review what happened during the time period you are interested in
[11:21] {Threei}  ummm
[11:21] {Threei}  that's illusion
[11:22] {Threei}  think of it this way:
[11:22] {Threei}  big player offered 100K shares,
[11:22] {Threei}  100K small ones came in and took 100 shares each
[11:22] {Threei}  1K, sorry
[11:22] {dino} cisg sm l .00
[11:22] {_cleto} and  ccme  had  an  independant  audit review and all positive..hmmm
[11:23] {Threei}  all you see is 1K prints 100 shares each at the offer
[11:23] {Threei}  what does it tell you?
[11:23] {Threei}  how do you know who did what?
[11:23] {Threei}  was it one big player who sold 100K?
[11:23] {Threei}  was it 1K of small ones vs 1K of small ones?
[11:24] {Threei}  Now, another situation:
[11:24] {Threei}  amidst many 100 shares prints, there is one for 10K
[11:24] {Threei}  which is presumable big money
[11:24] {Threei}  so, one big player sold 10K, another big player bought 10K
[11:24] {Threei}  how do you decide who of the is right?
[11:25] {Threei}  see how far from straightforward this is?
[11:25] {rambler} that part I get......
[11:26] {rambler} good to know....makes it me....
[11:26] {Threei}  my point is, methods based on these things are not rooted in reality
[11:26] {Threei}  now, look at the chart and think of it this way:
[11:26] {Threei}  stock advances on increasing volume and retreats on decreasing
[11:26] {Threei}  does it tell you somethng?
[11:27] {RonS} here is example rambler...look at T&S hitk...taking hit., loow vol stock but trade just occurred for 250K at 19.50
[11:27] {Threei}  of course it does - advance encourages axctivity, invites more buyers
[11:27] {Threei}  retreat occurs on lesser volume which means sellers are not willing to chase price down,
[11:27] {Threei}  ans buyers can't get their bids hit
[11:28] {Threei}  so to get their shares they have to bid up and/or hit offers
[11:28] {Threei}  which leads to price advance and, again, volume increase
[11:28] {Threei}  can you conclude that such perice-volume pattern is bullish?
[11:29] {rambler} yup....
[11:29] {Threei}  let's go to illustration
[11:29] {Threei}  have a look at daly chart of CCME
[11:29] {Threei}  price drop from the end of han
[11:29] {Threei}  sharp volume increase
[11:30] {Threei}  meek bounce started 02/04,
[11:30] {Threei}  look how anemic volume became
[11:30] {Threei}  can you say bearish?
[11:31] {Threei}  sure enough, after some consolidation, new price drop comes
[11:31] {Threei}  notice however that volume is not rising dramatically this time ariound
[11:31] {RonS} oil nearing 102...BofA chart gal said 103 breakout will mean run at 147 high
[11:31] {Threei}  unless previous support is lost and volume spikes, we are looking at possible double bottom
[11:32] {Threei}  with second bottom on lower volume
[11:32] {Threei}  every time I make a call, there are a few components to it,
[11:32] {Threei}  and one of them is volume configuration
[11:33] {Threei}  if you go over COTDs over extended time period you'll see it emntioned many times
[11:35] {rambler} thanks Vad, as a swing trader I understand that stuff, I just wondered if I was missing perhaps a small piece...
[11:35] {Threei}  don't feed nemo straight lines
[11:36] {Threei}  he is usually quick topoint out when some of us miss small piece... or big
[11:36] {nemo} les?
[11:36] {Threei}  see? :)
[11:36] {patience} ron, you still in goldcorp?
[11:36] {Threei}  that was fair warning on my part {G}
[11:36] {RonS} nope
[11:37] {RonS} there is a reason you are patience...
[11:37] {Threei}  anyway, there is a considerable part of scalping videocourse devoted to role and use of Level 2 and T&S
[11:37] {patience} goldcorp is a deep breather
[11:37] {patience} got used to it
[11:37] {Threei}  and debunking of some of myths around it
[11:37] {Threei} Short Setup: LVS  .90 break
[11:37] {rambler} my thoughta are learning to scalp properly with help with longer time frames...
[11:38] {Threei}  that's eqzaktly right approach
[11:39] {Threei}  stop is too obvious for me to mention, lest I insult your intelligence
[11:40] {RonS} scalp or milk?
[11:40] {Threei}  not a scalp but not a full blown milk...
[11:40] {larisa} LVS, 50 cents drop already, and went inder even number.. what is objective for this trade, last impulse of selling?
[11:41] {larisa} when you have time
[11:41] {Threei}  probably has a chance for 1:2, 1:3 is not very likely
[11:41] {nemo} .76 is vwap
[11:41] {Threei}  just a valid setup
[11:41] {RonS} plus market slipping...
[11:42] {Threei}  still in upper half of today's range, so not too cincerned about it being 50 cents away from high
[11:42] {_cabogordon} entered short LVS .90. stop loss ?
[11:42] {Threei}  above 44
[11:43] {Threei}  speaking of volume, zoom in on 1 min chart and see the volume pattern
[11:44] {Threei}  increase vs decrease on red and green bars
[11:44] {Threei}  real time illustration
[11:44] {Threei}  1:1
[11:44] {Threei}  half out, scalpers take profit
[11:45] {Threei}  sharp volume spike on this last red bar, reinforces scalpers in their profit taking
[11:46] {Threei}  puts day traders on alert that snapbak is possible
[11:46] {Threei}  stop for the balance is trailed to above b/e
[11:46] {rambler} thanks for the comments Vad, helps...
[11:47] {Threei}  :0
[11:50] {_cleto} vad.. u indirectly made an incredible call on CCME
[11:51] {_cleto} u should have stopped preaching and acted lol
[11:51] {Threei}  I have huh...
[11:51] {Threei}  that's me, indirect and incredible
[11:51] {_cleto} double bottom
[11:51] {_cleto} while u were preaching earlier
[11:51] {RonS} sick'em nemo
[11:51] {nemo} indirect?
[11:52] {_cleto} up 70 cents
[11:52] {nemo} a mack truck
[11:52] {Threei}  rofl
[11:52] {nemo} he makes Donald Trump look like a wallflower
[11:52] {Threei}  go figure... some ask for more preaching, some stone me for that
[11:52] {nemo} stoning is more fun
[11:53] {nemo} the muffled sound of crunching bone under flesh
[11:53] {nemo} orgasmic
[11:53] {Threei}  certainly - especially when I have my AK-47, to indirectly repond to those casting stones
[11:53] {RonS} sick'em larisa
[11:54] {Threei}  but Trump, yeah, he sugarcoats things way too much, you are right
[11:54] {RonS} only the hairdo...
[11:54] {nemo} 30-06 win70 receiver, timmney trigger, krieger medium weight barell, nightforce 2.5-10 44mm
[11:54] {nemo} bfd, ak
[11:55] {Threei}  dunno... very effectve for indirect response
[11:55] {Threei}  let's get back to LVS chart for a sec
[11:56] {Threei}  observe how volume pattern shanged
[11:56] {Threei}  changed
[11:56] {Threei}  11:47 - 11:51, evened out
[11:56] {Threei}  11:52, red bar, lower volume,
[11:57] {Threei}  then two green bars, volume increase
[11:57] {rambler} market selling off...
[11:57] {Threei}  taking it over breakeven and stopping out balance
[11:57] {Threei}  yes, market selloff took LVS with it later on
[12:01] {RonS} hitk...big negotiated trades have occurred 3 times so far
[12:02] {RonS} 4
[12:04] {rambler} big vol, no price movement...or limited...
[12:04] {RonS} ya -15% not much
[12:06] {rambler} 15 min chart changes things...
[12:11] {rambler} AIG L 36.92
[12:12] {dino} hitk sm l .62
[12:13] {rambler} probably hold for the day....stop at 36.70
[12:37] {rambler} AIG stop to .37.00..
[12:38] {Threei}  nice and steady trade
[12:38] {Threei}  trailing maybe a bit too drastic for the intention
[12:38] {rambler} Am I being greedy....?
[12:39] {RonS} i took aig l .90...looking for .28...
[12:40] {Threei}  not necessary greedy, what I mean is:
[12:40] {dino} gdot sm l .35
[12:40] {Threei}  for a trade you took to possibly hold for a day-long run and such a wide initial stop, trailing so close after this move seems a bit too tight
[12:41] {rambler} probably stop to b/e a better choice....
[12:41] {Threei}  at that point in time, I'd trail it to .90
[12:41] {Threei}  now I would take half off the table
[12:41] {Threei}  let it breathe a bit,
[12:42] {Threei}  if stop is not tagged and it makes new high, trail to 37
[12:42] {Threei}  then watch where it bottoms on each pullback, and trail under it after new high,
[12:42] {Threei}  and determine where your final profit-taking target is,
[12:43] {Threei}  near current day high, .60, is one idea,
[12:43] {rambler} power flickers.....
[12:43] {Threei}  wind?
[12:43] {rambler} yes..
[12:43] {Threei}  none here yet but soon...
[12:44] {Threei}  another idea is to trail and let it stop you out when it reverses the trend
[12:45] {Threei}  btw, dino
[12:45] {Threei}  watched Sheen's interview with Morgan the other day
[12:45] {rambler} Good idea...trailing stop in case of power cut off....really blowing here..
[12:45] {Threei}  guy looked and sounded absolutely normal to me
[12:46] {Threei}  he is quick thinker, unconventional use of language, sense of humor is an aquired taste (very much to my liking though)
[12:46] {Threei}  I can see how "normal" folks can be irritated by him
[12:47] {Threei}  Pope Exonerates Jews for Jeesus Death in New Book
[12:47] {Threei}  no really?
[12:48] {Threei}  sigh
[12:48] {Threei}  my AIG stop would be under .10 now
[12:49] {rambler} I've got it trailing by .20..
[12:49] {RonS} out aig .28  +.38...thanks rambler
[12:49] {rambler} yw...
[12:49] {davd} so he says the jews killed jesus but that he forgives them?
[12:49] {RonS} man that stuff makes my blood boil
[12:49] {Threei}  that's how I understand it... haven't read the book though, judging by a headline only
[12:49] {dino} religion is ruining the world
[12:50] {RonS} how can any group be persecuted through the ages for killing one of their own is beyond me
[12:50] {RonS} it is freakin unbelievable
[12:50] {RonS} this is a condition of man
[12:51] {RonS} fer chrissakes...:)
[12:51] {Threei}  Delusional US) Fed's Bernanke: Consumers have come back; consumers being supported by higher stock market - Q&A- Calls for the tax base to be broadened and corporate tax rates brought down
[12:52] {rambler} out AIG....
[12:52] {rambler} changed my mind
[12:52] {RonS} er...hey you berded clam...inflation is a tax and it is braodbased
[12:53] {RonS} bearded
[12:53] {RonS} broad
[12:53] {Threei}  this is beautiful trade rambler
[12:53] {rambler} that worked out....+42
[12:54] {RonS} gj...i loved the stop loss
[12:54] {Threei}  everything came together in it, setup, management and execution
[12:54] {Threei}  when folks start doing this kind of traders, I know my retirement is somewhere near
[12:54] {Threei}  trades
[12:55] {rambler} please no....
[12:55] {rambler} got many things to figure out yet....
[12:56] {Threei}  I plan to retire for the last 10 years at least... as larisa noted...
[12:56] {Threei}  so if history is any indication, you can count on 10 years more at least {G}
[12:57] {rambler} if your having fun it"s not work...
[12:57] {Threei}  yes but I have this feeling that having this much fun and making money just must be illegal
[12:58] {Threei}  I just hope that when they come knockin', nemo is here visiting, with a lot of ammo
[12:58] {rambler} shhhhh.....this may be the last refuge....
[12:58] {Threei}  so we take last stand
[12:59] {rambler} thats about it....
[12:59] {Threei}  and go down in glames doused by good portion of hard liquor
[12:59] {Threei}  flames too
06[12:59] * Threei slaps nemo around a bit with a well-oiled AK-47
[13:00] {nemo} claymores
[13:00] {nemo} we
[13:00] {nemo} we'll line the walkway
[13:01] {nemo} don't really need to oil ak's  only 3 moving parts
[13:01] {Threei}  see, my script for a slap has "a" at the end
[13:01] {strider} right.  dust or sand works best
[13:01] {Threei}  and "a AK-47" sounds awkward
[13:02] {Threei}  so I had to add something, and all I could come uop with was "well-oiled"
[13:02] {nemo} ahhh
[13:02] {strider} now ARs on the other hand.............
[13:02] {Threei}
[13:03] {davd} you know 3i et al, if you flew a black flag out your window, i bet oil would spike a buck
[13:03] {davd} re canada
[13:05] {Threei}  I see two island residents lost connection
[13:05] {Threei}  am I next}
[13:07] {davd} steve job is there!!!  i want to do his diet.
[13:07] {strider} I like being 'next'
[13:07] {strider} very important position
[13:08] {Threei}  so far, not a leaf moving
[13:08] {RonS} Hi-Tech CFO: Stock Decline Related To FDA Action On Lodrane       03/02 11:07 AM
[13:08] {dino} out gdot .67, +.32
[13:09] {RonS} Hi-Tech's Lodrane Among Unapproved Drugs FDA Seeks To Pull From Market       03/02 11:07 AM
[13:13] {RonS} Hi-Tech CFO Says Working On Filing For FDA Approval Of Lodrane       03/02 11:13 AM
[13:17] {Threei}  CCME, what a bounce
[13:17] {RonS} quote of the day"  maybe aapl should be playing "all you need is flash" and i would be impressed
[13:18] {Threei}  hmmm
[13:18] {Threei}  I can see it being the case in some curcumstances...
[13:21] {strider} sh slb .07
[13:21] {strider} stop .15
[13:23] {strider} stopped
[13:23] {strider} that's all I can do
[13:25] {dino} same here strider, one of those days
[13:26] {strider} I want my tombstone to say:   He kept his goddam stops.
[13:26] {RonS} lol
[13:26] {nemo} No more No les
[13:26] {Threei}  Mine will say: This is his last joke. More to come.
[13:32] {dino} simg
[13:33] {strider} sh slb .23
[13:47] {dino} zag
[13:47] {dino} zagg
[13:48] {strider} are there any trding jobs where you just get paid by the hour?
[13:49] {larisa} yes, when you teach somebody to trade :)
[13:49] {strider} how about 10 bucks and hour and all the pride you can swallow?
[13:49] {strider} an
[13:49] {strider} ok, larisa.  come on down.    I'll teach you to trade.
[13:49] {larisa} I can teach you the same :)
[13:50] {strider} hmmm....that's gonna net out to zero.
[13:50] {strider} not what I had in mind.
[13:50] {larisa} lets both teach vad
[13:50] {strider} too late for that.
[13:50] {larisa} why?
[13:50] {Threei}  hmmm
[13:51] {Threei}  no, it's actually great idea
[13:51] {Threei}  I charge small administrative fee of $999.99 per hour for the right to teach me
[13:51] {larisa} no fees
[13:51] {Threei}  ok.. discount for larisa
[13:52] {Threei}  of $999
[13:52] {Threei}  .99 I must charge, sorry - lest people think I am an altruist
[13:52] {Threei}  Ihave reputation to maintain
[13:53] {strider} stop slb
[13:53] {strider} I give up
[13:53] {strider} I could flip a coin and do better than this
[13:54] {strider} if I had a coin
[13:54] {Threei}  lol
[13:54] {Threei}  the problem is, this is random time
[13:54] {Threei}  see me keeping silent on trades?
[13:54] {Threei}  yhink it's just because I am lazy?
[13:55] {Threei}  well, I am lazy of course
[13:56] {strider} jpyg
[13:57] {strider} sorry
[14:00] {strider} beige book
[14:00] {strider} goes with anything
[14:00] {RonS} lol...took a sec to get it
[14:00] {Threei}  come on Ron
[14:00] {Threei}  even I got it
[14:00] {RonS} i said a sec
[14:01] {Threei}  and my sense of humor is pretty much "cake in the face" type
[14:01] {RonS} so they call you soupy sales?
[14:01] {Threei}  seeing someone falling in the paddle sends me in spasmatic laughter for 10 min
[14:02] {RonS} paddle sound like nemo fun
[14:02] {Threei}  and if movie character turns sharply while holding 2x4 on his shoulder, and hits someone on the head...
[14:02] {_iamspartacus} head and shoulders reversal
[14:02] {_iamspartacus} 71 % fib retracement
[14:03] {RonS} i thought you were making a joke re 2X4
[14:03] {Threei}  I was... never said it was funny
[14:04] {RonS} talkin sparta
[14:04] {Threei} Short Setup: AIG  .15
[14:04] {Threei}  if stays under .25
[14:05] {_iamspartacus} do you mean short if it breaks .15?
[14:05] {Threei}  even if just trades at that price
[14:05] {_iamspartacus} ok
[14:05] {Threei}  support is established at .17 - .18 over last three tests
[14:05] {Threei}  so .15 is already break of the low
[14:06] {Threei}  invalidated anyway
[14:07] {Threei}  IA) Two Iranian naval ships to pass through Suez on Thursday, travelling South to Red Sea
[14:08] {_iamspartacus} perhaps they will meet the two US war ships already in the region
[14:08] {_cabogordon} soda running
[14:10] {RonS} changing name to carbogordon?
[14:10] {Threei}  lol
[14:11] {_cabogordon} haha
[14:19] {Threei}  PIMCO's Gross affirms earlier comments, expecting yields to rise following QE2 completion
[14:19] {Threei}  - Says 4.00% yield on 10-year treasury is certainly within sight.
[14:19] {Threei}  - Says it is fair to say US is beginning to lose its economic dominance.
[14:20] {Threei}  Winds have strengthened with south to southeast gusts in the range of 120 to 140 km/h on the west coast of Vancouver Island
[14:20] {Threei}  I think rambler is sitting without power
[14:20] {dino} is that where you are vad?
[14:20] {Threei}  no, I am southern tip of the island
[14:21] {Threei}  this is me:
[14:21] {Threei}  Farther south around Greater Victoria winds have strengthened to 70 km/h southerly wind gusts up to 100 km/h.
[14:23] {Threei} Long Setup:  LVS  .20 break
[14:23] {Threei}  if stays above .10
[14:24] {Threei}  invalidated
[14:24] {dino} ccsc l .05 stop .97
[14:25] {dino} cpf sm l .20 stop .98
[14:26] {nemo} do they trade dino?
[14:26] {dino} sure
[14:27] {_iamspartacus} gartley long set up
[14:27] {nemo} oh, the butterfly
[14:27] {nemo} love squashing those pretty little things
[14:28] {_iamspartacus} y
[14:32] {dino} stoppedccsc ave .95 -.10
[14:36] {RonS} fda move on Lodrane comes w/ product having been on market since 1962 at which time it was approved safe
[14:37] {RonS} Hi-Tech said last month it had 15 products awaiting approval at the FDA and 20 products in active development.
[14:37] {RonS} another Obama renegade agency
[14:38] {Threei}  LVS reestablished
[14:39] {strider} .20?
[14:40] {Threei}  yes sir
[14:40] {Threei}  with .10 support
[14:40] {dino} f'ng rinses ccsc
[14:43] {_iamspartacus} Vad - do you have a stock scanner or do you just trade a certain set of "favourite" stocks?
[14:44] {nemo} scanner
[14:44] {Threei}
[14:44] {nemo} what do you think he's so superficial he'd promote a product on his website he doesn't use?
[14:45] {_iamspartacus} ok, just that I notice three particular stocks traded
[14:45] {nemo} well...he does have his binkys
[14:45] {Threei}  it's a specific moment in the market
[14:45] {Threei}  there is too much informity at this point, not much room for individual stock moves,
[14:46] {_iamspartacus} scanner always throws up lvs, rimm,
[14:46] {_iamspartacus} ok
[14:46] {Threei}  still, we spot occasional unusual moves out of synch with market, like CCME
[14:48] {dino} out cpf .05, +.85
[14:48] {dino} guess that moved nemo
[14:49] {RonS} ya, gave nemo b movement
[14:49] {nemo} good thing you got out too
[14:50] {dino} was waiting
[14:51] {dino} look ccsc too
[14:56] {dino} tam spike
06[14:59] * Threei kicks LVS in the rear
[15:00] {kschun} are you long LVS vad?
[15:00] {Threei}  yes
06[15:00] * Threei kicks LVS in the rear with steel toe heavy duty army boots
[15:01] {Threei}  god, how can you not appreciate the violence
[15:01] {Threei}  so pleasant AND effective
[15:06] {kschun} target in LVS ?
[15:07] {Threei}  I'd say, around .45 - .5- if market acts as I suspect it will
[15:07] {kschun} o.k. thanks
[15:09] {Threei}  level 2 guru would have dropped dead seeing how we didn't sell in front of that huge .25 offer
[15:09] {Threei}  1:1
[15:09] {Threei}  half out
[15:09] {Threei}  scalpers know what to do
[15:10] {Threei}  stop to .18
[15:12] {kschun} offer was just a big fake
[15:12] {dino}  ccsc sm l .15
[15:12] {kschun} but agree with you
[15:12] {kschun} another good trade!
[15:12] {Threei}  no it wasn't
[15:12] {Threei}  it got bought
[15:12] {Threei}  in full
[15:13] {Threei}  15:09, see volume spike?
[15:13] {Threei}  it was that order being bought
[15:14] {kschun} ah - u are right
[15:14] {kschun} 3
[15:14] {kschun} 35K shares...
[15:15] {kschun} good observation :-9
[15:16] {kschun} LVS may evening interesting for a little swing there
[15:17] {kschun} just saying, not gona try it
[15:17] {kschun} under averages on daily, so no go for my side
[15:26] {kschun} o.k. guys I am out. Great evening to all, thanks all!
[15:27] {Threei}  take care ks
[15:31] {Threei}  expected more upside into eod
[15:31] {Threei}  market lost will to live
[15:32] {_iamspartacus} still might come
[15:34] {_iamspartacus} despite bearish wedge over dow 10m
[15:36] {dino} back in ten ccsc stop is lod
[15:39] {Threei}  still just light wind here
[15:45] {Threei}  time is running out on LVS
[15:47] {rambler} hi all....
[15:47] {Threei}  you ok rambler?
[15:47] {Threei}  not in cansas?
[15:47] {rambler} all good....windy as hell here...
[15:48] {Threei}  wow... satill nothing here
[15:49] {rambler} hows the trading going....
[15:49] {Threei}  very nice day
[15:49] {dino} slow
[15:49] {Threei}  albeit slow
[15:50] {Threei}  but slow is good... I am nit as fast as I used to be either
[15:50] {rambler} slow and steady can be good....
[15:51] {Threei}  iPad1 prices to be slashed by $100
[15:51] {Threei}  cut by $400, I am interested
[15:51] {Threei}  maybe
[15:51] {dino} slow and steady=way of turtle
[15:51] {Threei}  turle of enormous girth
[15:52] {Threei}  on its back stands the earth
[15:52] {dino} lol, i remember
[15:52] {Threei}  :)
[15:55] {patience} vacation starts friday, evidently i need it.   traded goldcorp 4 times today.  all profitable.  in spite of me buying based on watching suncor chart and then silver wheaton chart.
[15:55] {rambler} gotta love that.....
[15:55] {dino} rubbing it in huh patience :D
[15:56] {patience} just shows you to go long when the market is going up
[15:58] {rambler} bot PNM....14.50
[15:59] {rambler} vol up.....hold overnight...
[15:59] {dino} out ccsc -.02 at .13
[15:59] {Threei}  OK, out last :VS .26
[15:59] {dino} out csig -.06
[15:59] {Threei}  thank you all, have a great evening
[15:59] {Threei}  see you tomorrow
[16:00] {rambler} thanks Vad and all.....
[16:00] {dino} thx all