Thursday, March 17, 2011

Mar 17 2011

Another strong day with good activity and nice winning percentage. No interesting charts though.

Session Time: Thu Mar 17 00:00:00 2011
[08:28] {nemo} guess we're having an oversold rally
[08:38] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 385K V 388KE; CONTINUING CLAIMS: 3.706M V 3.75ME
[08:38] {Threei}  - Prior Initial Jobless Claims revised higher from 397K to 401K
[08:38] {Threei}  - Prior Continuing Claims revised higher from 3.771M to 3.786M
[08:42] {Threei}  this gap up is not a gift dino was looking for for his birthday
[08:43] {nemo} no, but we were so oversold, unless a meltdown was reported....
[08:43] {patience} happy st. paddy's day
[08:45] {Threei}  oes it mean we have no business to remain sober yet?
[08:46] {patience} hop to it, crack open the first one
[08:47] {davd} top o the morn
[08:47] {Threei}  davd :)
[08:48] {davd} does anyone subscribe to the theory that equity prices (prior to option expir) gravitate toward the calls/puts with the greatest number of open interest?
[08:49] {patience} don't know davd
[08:49] {RonS} if they are w/in 5% at the beginning of the week...this is called the Max Pain Theory
[08:50] {nemo} having said that davd, we're in news driven environment
[08:52] {RonS} agree w/ nemo...there used to be a free calculator for this but they started charging and i stopped looking at it
[08:52] {RonS} frankly it only seemed to work on the big indices about 20% of the time
[08:53] {Threei}  which is pitiful performance, really
[08:54] {RonS} yep...but there was a stretch of six months running when it was dead on...
[08:55] {RonS} viewed it as entertainment only
[08:58] {Threei}  that's what happens with each and every tool
[08:58] {nemo} Les was a tool
[08:58] {Threei}  certain conditions come together and create odds cluster
[08:59] {Threei}  and something suddenly dsiplays unusually high % of accuracy
[08:59] {nemo} over a short period of time
[08:59] {nemo} Monkeys writing shakespeare
[09:00] {Threei}  then someone with interest in the tool or trying to use it to promote themelves claims finding holy grail
[09:00] {Threei}  and cites that period as evidence
[09:00] {Threei}  that's when we see sudden spike of interest to Hidenrburg omen or whatever
[09:01] {Threei}  and it's almost comical to see how people who haven't heard of that omen till yesterday become fanatical about it
[09:01] {Threei}  and bite off head of everyone who questions its usefulness
[09:02] {Threei}  sure enough, either overuse of a tool that became too popular for its own good or simple passage of time and odds cluster makes it useless again
[09:02] {Threei}  and crowds forget about it as fast as tey became enchatned with it
[09:03] {Threei}  holy grail names change... price and volume action stays
[09:05] {davd} tx
[09:05] {davd} thanks
[09:08] {RonS} max pain was anyone long $/short yen yesterday
[09:08] {RonS} pure hari kiri
06[09:09] * Threei slaps dino around a bit with a large Happy Birthday banner
[09:10] {RonS} for he's a jolly good fellow...
[09:10] {nemo} HB old man
[09:11] {jfjf64} mornin
[09:12] {Threei}  hey jf
[09:12] {jfjf64} enjoy dino  hbd
[09:13] {dino} gm all, thx
[09:13] {dino} big 46
[09:13] {RonS} lulu ripped her tutu
[09:17] {ese} morning
[09:17] {Threei}  ese :)
[09:17] {RonS} cree bumped by merriman +1.60 pre
[09:19] {davd} i'm going short the yen poss today using ycs rons - wasnt in it y'day
[09:20] {larisa} gm :)
[09:20] {Threei}  larisa :)
[09:20] {larisa} vad :)
[09:23] {RonS} this may help you out dave:
[09:24] {RonS} cree shows 21 mil sh short...
[09:24] {nemo} pot at resistance
[09:24] {nemo}  cree at resistance
[09:24] {nemo} ccj might be interesting
[09:26] {nemo} is this a "sit out the first few minutes" day?
[09:27] {Threei}  with this gap up, it very well may be "sit out whole day" day, LOL
[09:28] {Threei}  not forcing anything, just watching for valid setups with min risk
[09:30] {davd} l ycs .61
[09:31] {Threei}  (LB) NATO's Rasmussen: Does not believe it is too late to intervene in Libya, though it depends heavily on decision by the UN
[09:32] {Threei} Short Setup: SLW  .50 break half lot
[09:33] {Threei}  no go
[09:34] {rambler} morning....
[09:34] {Threei}  rambler :)
[09:36] {Threei} Long Setup:  RIMM  .80 break
[09:36] {Threei}  half lot
[09:39] {Threei}  1:1
[09:45] {Threei} Long Setup:  FCX  .30 break
[09:45] {Threei}  .20 break
[09:45] {Threei}  stop under .10
[09:46] {Threei}  1:1
[09:50] {nemo} atpg
[09:51] {ese} L swn .00
[09:54] {Threei} Short Setup: X  .95 break
[09:54] {Threei}  half lot
[09:55] {strider} really?
[09:55] {Threei}  ?
[09:55] {strider} never mind
[09:56] {Threei}  stop above .05
[09:56] {strider} now I don't have X in short list.
[09:56] {Threei}  1:1
[09:56] {Threei}  1;2
[09:58] {Threei} Long Setup:  FCX  .55 break
[09:58] {ese} swn stopped .85 -.15
[09:58] {Threei}  if stays above .45
[09:58] {Threei}  invalidated
[09:59] {Threei}  hmmm
[09:59] {Threei}  something's weird about this line:
[09:59] {Threei}  DangDang Hearing Wedge Partners makes positive comments (timing uncertain)
[09:59] {Threei}  what could it be...
[10:00] {RonS} dang if i know
[10:00] {Threei}  *(US) MAR PHILADELPHIA FED: 43.4V 28.8E
[10:00] {Threei}  huh?
[10:00] {ese} dang if I know either
[10:00] {Threei}  lol
[10:00] {Threei}  how do you give estimate 29 and get 43?
[10:01] {dino} fudge the numbers
[10:01] {RonS} work for the government...
[10:01] {Threei}  drink
[10:02] {Threei}  heavily and often
[10:04] {dino} pvh sm l .01
[10:04] {ese} dino ...have you had a look at sanm
[10:05] {ese} forget it.....guided lower
[10:06] {dino} no, but will
[10:07] {Threei} Long Setup:  CAT  .60 break
[10:07] {Threei}  half lot
[10:08] {Threei}  if holding .45
[10:09] {ese} in
[10:10] {Threei}  1:1
[10:10] {ese} .61
[10:10] {ese} out .72 +.11
[10:10] {ese} ks vad
[10:10] {ese} tks
[10:10] {Threei}  yw
[10:12] {Threei} Short Setup: FCX  .90 break
[10:12] {Threei}  stop above .05
[10:14] {Threei}  target is about .65
[10:16] {Threei}  touched 1:1 too fast, and didn't have order in
[10:19] {Threei}  stopped
[10:19] {Threei}  mismanaged this one
[10:19] {dino} out pvh .69, +.69
[10:19] {dino} opps +.68
[10:19] {Threei}  nice
[10:19] {dino} ty
[10:19] {rambler} good one dino...
[10:20] {patience} this is your market style dino
[10:20] {dino} ty
[10:21] {Threei}  (LB) Libya govt declares temporary ceasefire starting on Sunday to allow rebels to surrender
[10:21] {Threei}  starting on Sunday?
[10:22] {Threei}  I guess they figured none will remain alive till then
[10:22] {davd} high level radiation 20 miles from plant.  reported by japan public radio
[10:24] {RonS} dino look jdsu
[10:24] {dino} watching it w/fnsr
[10:25] {ese} nice follow up on pvh were in that a couple of days ago wern't ya
[10:25] {dino} yes
[10:26] {dino} ipi sm l .50
[10:28] {nemo} market almost to yesterday's highs, start looking for weakness
[10:29] {Threei} Short Setup: SLW  .55 break
[10:29] {Threei}  if stays under .65
[10:32] {ese} yikes.....swn......and after i got stopped out of it
[10:32] {ese} dems the ones that make you commit to drinking.....
[10:36] {Threei}  1:1
[10:37] {Threei}  UN Seriously Discusses No-Fly Zone
[10:37] {Threei}  I'll be back in 3 min, need puking reflex to wotk itself out
[10:37] {ese} lol
Session Close: Thu Mar 17 10:38:16 2011

Session Start: Thu Mar 17 10:38:40 2011
Session Ident: #discussions
03[10:38] * Now talking in #discussions
[10:39] {Threei}  heavens haven't seen as useless organization sinbce League of Nations
[10:40] {ese} yup.........there isn't a masacre they don't like for sure
[10:41] {davd} never miss an opportunity to miss an opportunity
[10:41] {ese} egggzactilly
[10:44] {Threei}  SLW baby
[10:44] {Threei}  out in full
[10:44] {gregns} tks ... slw
[10:45] {Threei}  greg :)
[10:45] {rambler} nice one Vad....
[10:45] {ese} well done chief
[10:45] {Threei}  ty
[10:45] {Threei}  I have my moments
[10:45] {Threei}  fewer and farther bteween as deliberate destruction of brain cells suceeds
[10:45] {Threei}  (LB) US State Dept Burns: Libya military has made "significant strides" against the rebels; Situation remains fluid
[10:45] {Threei}  fluid?
[10:46] {Threei}  really?
[10:46] {Threei}  (LB) German Foreign Ministry calls to impose further sanctions against Libya; New sanctions to target Gaddafi finances
[10:47] {nemo} fcx at yesterday high
[10:47] {Threei}  Gaddafi: Sanctions? Really? Well, as long as camel milk is here
[10:47] {dino} bunch of pansies
[10:55] {Threei}  (LB) France UN Ambassador calls for UN Security Council to vote on Libya no-fly zone
[10:55] {Threei}  is this first time ever that France is more hawkish than US?
[10:56] {Threei}  - Requesting that vote takes place at 18:00ET
[11:01] {Threei} Long Setup:  SLW  .65 break
[11:02] {dino} enoc sm l .52 ave
[11:04] {Threei}  invalidated
[11:12] {dino} ges lod
[11:21] {dino} ges sm l .00
[11:23] {nemo} support not until .22 below this
[11:25] {Threei}  (IR) Obama: US will be available to assist Ireland in its economic recovery
[11:25] {Threei}  color me puzzled
[11:25] {RonS} black Irish
[11:25] {nemo} yeah no shit, who's gonna' help us with ours
[11:26] {Threei}  I can clearly see us being able to help 10-15 old ladies cross the road... 20 may already be a problem
[11:27] {nemo} gmcr yesterday low .30, likely to bounce in this area
[11:27] {RonS} so nemo r u saying ges support at 37.22?
[11:27] {nemo} yes
[11:27] {RonS} txs
[11:28] {nemo} frickin spread on gmcr...DINO!!!!
[11:32] {dino} .03?
[11:32] {nemo} was worse
[11:32] {nemo} shold go to .70
[11:42] {dino} gj gmcr
[11:46] {Threei} Long Setup:  CCJ  .50 break
[11:47] {Threei}  1:1, half out
[11:47] {Threei}  stop to .45
[11:48] {Threei}  targeting .80 or so
[11:48] {ese} LO   well we missed this one
[11:48] {Threei}  1:2
[11:48] {Threei}  1/4 more out
[11:49] {Threei}  stop to .49
[11:49] {gregns} ty
[11:49] {Threei}  yw
[11:50] {Threei}  target's hit
[11:50] {Threei}  1:3, out
[11:50] {gregns} and i was about to step away for lunch
[11:50] {Threei}  now you can :)
[11:50] {gregns} yup
[11:50] {Threei}  LO
[11:50] {Threei}  FDA draft advisory report on menthol cigarettes suggests that menthol cigarettes are marketed in ways that implies health benefits or medicinal benefits- Also reiterates that menthols are disproportionately marketed to African-Americans and youth. - NOTE: documents released ahead of an FDA product safety committee meeting today.
[11:51] {nemo} I took it break of .40
[11:51] {rambler} right on the nose, Vad...thanks....
[11:51] {nemo} Yeah Vad, thanks
[11:52] {nemo} ges broke downtrend
[11:55] {Threei}  IAEA: Reactors 1,2, and 3 are stable; No significant worsening since Wednesday
[11:56] {Threei}  so I can't help but ask
[11:56] {Threei}  what did that asshole run his big mouth yesterday for, scaring the living daylight out of markets?
[11:56] {dino} to look important
[11:57] {Threei}  and media with its eternal hunt for sensations...
[11:57] {Threei}  remember GOM ecological disaster, worst in history?
[11:57] {dino} no accountability in media
[11:57] {Threei}  hysterical discussions of "nuclear exposion on the GOM bottom, to seal the leak"?
[11:58] {Threei}  I mean, what could possibly go wrong with that...
[11:58] {nemo} .75 area possible on ges
[11:59] {nemo} .40 area first test
[12:00] {strider} greg, dcc please.
[12:01] {strider} you should have a window minimized you can open, from mme.
[12:05] {Threei}  guys, look at your Apr calendar pls
[12:05] {Threei}  see the Mon-Wed, 3-5?
[12:06] {larisa} no, you can not go :)
[12:06] {RonS} yes
[12:06] {Threei}  with your kind permission (not by larisa evidently),
[12:06] {larisa} lol
[12:06] {Threei}  I will take little vacation
[12:06] {RonS} but 3 to 5 is sun-tues
[12:06] {Threei}  no big one this year, a few little ones - a day here, 3 there
[12:07] {Threei}  sorry, 4-6
[12:08] {Threei}  lodge at the bluff above the ocean,
[12:08] {Threei}  spectacular views
[12:08] {RonS} guees i will do taxes then...
[12:08] {rambler} photography trip Vad..?
[12:08] {Threei}  well, camera will be with me :)
[12:08] {Threei}  and get this:
[12:08] {Threei}  no cell phone reception, no TV
[12:08] {Threei}  no internet
[12:08] {RonS} ...the horror...
[12:08] {Threei}  rustic log cabin
[12:09] {rambler} you might have to read a book......
[12:09] {Threei}  that's the idea
[12:09] {Threei}  nothing for 30-50 miles around
[12:09] {Threei}  the unpronouncable name of the resort
[12:10] {Threei}  heaven on earth
[12:10] {dino} have fun
[12:10] {Threei}  two weeks before that... :)
[12:10] {rambler} no cell phone reception...?    you must be in the bush...
[12:10] {Threei}  just thought I'd alert you in advance, in case someone has some plans to cordinate
[12:13] {RonS} if 3i and dino are taking time off in April, can't we get Les back so he can tell us what to do?
[12:13] {RonS} :D
[12:14] {Threei}  I designate larisa
[12:14] {Threei}  as punbishment for attemot to deprive me of lousy 3 days vacation
[12:16] {larisa} no, thanks :)
[12:16] {dino} :D
[12:18] {Threei}  LO completed roundtrip
[12:19] {rambler} wow, you're not kidding.....short and sweet.....
[12:20] {nemo} cree pennant
[12:24] {Threei}  OK, I designate nemo then - as punishment to you all
[12:24] {Threei}  for the sins to be invented and announced yet
[12:25] {nemo} works for me...who's first?
[12:25] {Threei}  Hu
[12:27] {nemo} .91 break cree?
[12:27] {nemo} .90
[12:28] {Threei}  I am not delighted... but if you like it, keep shares smallish
[12:29] {nemo} possible short below .80 also because of pennant
[12:29] {Threei}  ok, this headline is totally out of bizarro world
[12:29] {Threei}  US Hints at Libya Airstrikes as Gadhafi Pounds Rebels
[12:29] {RonS} "present"
[12:29] {nemo} oh, let's start a 3rd war
[12:30] {rambler} GLNG going....
[12:30] {patience} i'm in double lot goldcorp, in at 45.83
[12:31] {Threei}  I mean, out of all forms of action, of different degrees of intrusiveness, to chose the almost most intrusive, short of landing troops in there - and do it AFTER the rebellion is smashed??
[12:31] {Threei}  mama... stop the Earth, I am getting off here
[12:39] {Threei}  22% Say U.S. Heading in Right Direction, Lowest of Obama's Presidency
[12:39] {Threei}  was always 27-28%
[12:42] {davd} yes, but what do those 22% think is "the right direction"?  might be good news
[12:44] {davd} o at 3:30 re japan
[12:46] {RonS} ges .05 to .38 +.33 thanks dino and nemo
[12:47] {dino} gj
[12:47] {dino} was a good exit
[12:48] {RonS} nemo said resistance at .40 so cut it 2 cents
[12:48] {nemo} makes it through that looks like .70 area
[12:48] {dino} out ges .33, +.33
[12:50] {nemo} could be spy trend support around .80
[12:50] {Threei}  what can he possibly say beyond "our sympathy, we will help as we can"
[12:52] {nemo} kick cree for me will ya' Vad
[12:52] {nemo} don't stomp
[12:52] {nemo} kick
[12:53] {nemo} with your toe
[12:53] {nemo} up
[12:53] {Threei}  ok
[12:53] {Threei}  toe??
[12:53] {Threei}  who kicks with toe
[12:53] {nemo} steel toe
[12:53] {Threei}  oh
[12:53] {nemo} you fold them under like you would a fist
[12:53] {nemo} ty 1:1
[12:54] {Threei}  sure... but I still used a heel if its ok with you
[12:55] {nemo} no, you might stomp downward
[12:55] {nemo} we want elevation
[12:55] {nemo} I'm not shorting
[12:55] {Threei}  yoki giri
[12:56] {nemo} side kick?
[12:56] {nemo} nah
[12:56] {Threei}  no
[12:56] {Threei}  that would be mavashi giri
[12:56] {nemo} that's round house
[12:56] {Threei}  ok.. unfamiliar with english terminology
[12:57] {nemo} go look on youtube, I'm sure it's there
[12:57] {davd} l bp if break .55
[12:58] {davd} if stay above .5
[13:00] {nemo} stop be on cree
[13:00] {davd} pivot nemo on spy 127.75?
[13:01] {Threei}  OK... it's mae geri
[13:01] {nemo} yeah, that's front
[13:02] {Threei}  memory fades
[13:02] {nemo} I'm not up on my Japanese
[13:02] {Threei}  brain cell destruction
[13:02] {Threei}  and it's been about 30 years since
[13:04] {Threei}  Fannie Mae Congressman Hensarling to introduce bill to wind down the GSE's, end conservatorship in two years- After conservatorship period ends, bill would allow the Fannie and Freddie to continue for three more years if they are deemed viable.
[13:04] {Threei}  wull they ever be able to wind them down?
[13:04] {nemo} no
[13:04] {Threei}  seems unsurmountable task
[13:05] {nemo} bureaucracies never die
[13:05] {Threei}  - The bill also calls for an immediate end of GSE affordable housing mandate
[13:06] {Threei}  buit that means admitting that this mandate was at the root of the problem in the first place
[13:06] {RonS} everyone know that...
[13:06] {RonS} knows
[13:10] {davd} ycs stop to .6
[13:11] {nemo} 1:2 cree
[13:12] {davd} bp stop to .48
[13:16] {Threei}  nice one on BP
[13:17] {davd} im still in - suggestions?
[13:17] {dino} trgt drop
[13:19] {davd} oil pops higher
[13:19] {dino} sm l ave .70
[13:19] {davd} yen at low of day re ycs
[13:20] {dino} stopped -.24
[13:27] {rambler} vxx breaking....
[13:27] {dino} sm l trgt .50
[13:29] {dino} no good stopped
[13:29] {davd} out bp stopped -.07
[13:29] {Threei}  (LB) Libya Defense Ministry: May attack civilian and military targets in the event of a foreign intervention
[13:30] {rambler} BRCM tanking...
[13:30] {dino} guy who really cares for his people
[13:30] {nemo} 50% spy retracement
[13:30] {dino} trgt rinsed
[13:30] {rambler} ROVI as well....
[13:31] {Threei}  I don't see news for this tank
[13:32] {nemo} just taking out stops
[13:32] {strider} akam didn't follow
[13:34] {davd} awaiting un decision on airstrikes against libya - fox
[13:35] {Threei}  read this:
[13:35] {Threei}  (GE) German Fin Min Schaeuble: Reiterates opposition to Eurobonds
[13:35] {Threei}  - Germany ready to support giving more power to the EU Commission.
[13:35] {Threei}  huh?
[13:35] {Threei}  sigh
[13:35] {rambler} bad idea....
[13:35] {Threei}  the contradiction between line 1 and line 2 is mind boggling
[13:36] {rambler} next will be 'equalization payments' like we have here ....
[13:36] {rambler} that's the plan....
[13:36] {Threei}  good luck with that
[13:37] {rambler} they are workiong on it....
[13:37] {rambler} working
[13:37] {Threei}  that's when the whole thing blows up
[13:37] {rambler} socialist dream.....
[13:37] {rambler} equality for all....
[13:38] {dino} nemo, nice ges read, theres .70s
[13:38] {Threei}  even with Canadian cohesiveness, a few orders above Europian, it may tear Canada apart sooner or later, unless modfied and toned down by govt
[13:38] {dino} according to need according to ability, the curse of the modern world
[13:38] {rambler} quebec won't stand for that...
[13:38] {Threei}  yeah, that works really well
[13:39] {rambler} that 8 billion is a nice touch every year...
[13:39] {Threei}  IAEA: Japan officials say Tepco engineers have successfully laid new external power cable to No. 2 reactor at Fukushima plant - press
[13:39] {Threei}  - NOTE: earlier Japanese press reports said Tepco hope to have some power restored to the plant by Friday.
[13:40] {Threei}  as far as I am concerned, Quebec can separate tomorrow
[13:40] {patience} this afternoon would be fine as well
[13:40] {rambler} egzactley.....
[13:40] {Threei}  no, I need to speak with my daughter first, to make sure she has tickets out iof there
[13:40] {Threei}  so, tomorrow
[13:40] {patience} good point
[13:41] {rambler} I've been hoping for that for 30 years...
[13:42] {ese} 2nd time i've been cut off this bout if i just go and stand in the corner
[13:43] {dino} ok
[13:43] {ese} lol
[13:43] {ese} what are you in dino.......let me scrutinize your work
[13:45] {dino} enoc at .52 for hours
[13:45] {dino} trgt might go, sm l .51
[13:45] {rambler} FAZ bull flag and pop...
[13:46] {ese} what was the news on trgt
[13:47] {dino} nothing
[13:47] {ese} some strategic alliance is all i see
[13:50] {dino} nothing new
[13:50] {strider} long .54 akam
[13:51] {rambler} looking for shorts Vad...?
[13:52] {Threei}  yes
[13:53] {Threei}  .short cree .40 break
[13:53] {Threei} Short Setup: CREE  .40 break
[13:54] {Threei}  stop is so self-explanatory, I won't insult anyone's intelligence
[13:54] {Threei}  1:1
[13:55] {Threei}  Saudi Arabia King Abdullah to issue various decrees on Friday at 11:00GMT, after morning prayers; no details given on the subject of the decrees - finanical press cting Saudi Press Agency
[13:55] {Threei}  ummm... canceling morning pryares?
[13:56] {Threei}  The Goldman Sachs Group Inc Fox Business report speculates CEO Blankfein could retire as early as next year
[13:56] {Threei}  - Fox Business's Gasparino cites sources saying Blankfein has told his friends he is tiring of dealing with the issues surrounding leading a public financial firm. Speculates he might launch his own hedge fund.
[13:57] {strider} avg akam .525
[13:57] {dino} out trgt .08, +.57
[13:57] {patience} nice one
[13:57] {dino} thx
[13:57] {Threei}  birthday boy is having a blast
[13:58] {ese} classic
[13:58] {dino} back in 30
[13:58] {Threei}  I am so coming over with 6 pack and two strippers
[13:58] {ese} patience....what are you focusing in on these days
[14:00] {strider} serious drinking, huh vad?
[14:00] {strider} a whole 6 pack
[14:00] {Threei}  warm-up... counting on host to provide actual drinks
[14:02] {patience} hang on, watching video of 2 baby squirrels who survived a tree fire
[14:03] {patience} does that answer the question?
[14:03] {Threei}  yes - sanity left tnis building
[14:03] {Threei}  well, whatever remained of it anyway'
[14:03] {patience} i'm in goldcorp
[14:04] {patience} watching natural gas
[14:04] {patience} looking at how to catch the bounce up in the u.s. dollar when it comes
[14:04] {patience} thought i would buy whatever is the momo, but on u.s. side
[14:05] {patience} options week is always challenging
[14:05] {patience} and gold and silver options expire next week
[14:07] {rambler} Vad, what happened to CREE...out at 1:1 ..?
[14:13] {Threei}  scalpers yes, day traders partail and stop on the balance as it went above b/e
[14:14] {Threei}  standard procedure
[14:14] {davd} patience im using ycs - more confident that people are selling yen - not so confident they will buy uncle sam
[14:16] {patience} appreciate you mentioning it davd.   i'm just watching for some sort of bounce in u.s. dollar, it's up slightly today,but not much
[14:24] {RonS} ok, who has te text of the O statement?  gonna be a hinkey eod...
[14:24] {RonS} the
[14:24] {strider} offering 1/2 akam .69
[14:24] {strider} entry .53
[14:24] {strider} been awhile
[14:26] {strider} filled
[14:28] {nemo} spy probably to .76 area vwap @.84
[14:30] {kschun} hy all!
[14:30] {Threei}  hi ks
[14:31] {kschun} bought SPY on 127.3, half out at .49, 1/4 out at .44 and last quarter holding now
[14:31] {nemo} tck could break on this doji
[14:32] {kschun} some divergence regarding market and internals. could go higher in my op.
[14:32] {Threei}  nice setup
[14:32] {Threei}  hold last 1/4 for .50 break
[14:32] {kschun} yep, had the same idea. thanks vad
[14:32] {Threei}  try to exit around .65
[14:33] {Threei}  ad trail to to .35
[14:34] {kschun} o.k.
[14:35] {strider} akam stop to .63
[14:37] {strider} stuck at r2
[14:37] {kschun} out at .59 last part.
[14:38] {nemo} wow ung quite the bump today
[14:38] {strider} stop to .69
[14:38] {kschun} TICK was not able to holding its 600 level.
[14:38] {kschun} pulled back the hole day on it
[14:38] {nemo} whole day
[14:39] {kschun} whole day
[14:39] {kschun} :-) nemo...
[14:39] {nemo} whole=ganz
[14:39] {kschun} sorry :-) - told you, your german is better then my english :-)
[14:39] {davd} donut holes
[14:39] {nemo} hole=Loch
[14:39] {kschun} o.k. o.k. - understood . thanks
[14:40] {strider} out akam balance .69
[14:40] {strider} +.16
[14:40] {nemo} don't remember donuts in german
[14:40] {kschun} donuts = donuts :-)
[14:40] {davd} strudel
[14:40] {nemo} Ya...don't remember seeing them
[14:40] {nemo} no davd
[14:40] {RonS} hool= nemo sometimes  :)
[14:41] {nemo} tool=Ron all the time
[14:41] {kschun} LOL
[14:41] {kschun} LOL
[14:41] {RonS} lol
[14:41] {davd} lal
[14:41] {kschun} love you guys, would pay membership only to read RON + NEMO :-)
[14:41] {kschun} and VAD :-)
[14:42] {Threei}  that triples membership rate
[14:42] {kschun} was ready for this one
[14:42] {strider} can we get a discount if we ignore nemo?
[14:42] {kschun} if you can ignore nemo, cost will be USD 1
[14:42] {Threei}  that would cost extra
[14:42] {kschun} because it is not possible
[14:42] {kschun} yeah, vad is right :-)
[14:43] {Threei} Long Setup:  CREE  .50 break
[14:43] {Threei}  half lot
[14:44] {nemo} it's like getting an unlisted number
[14:45] {nemo} .35 stop?
[14:45] {nemo} .34
[14:46] {Threei}  conslidated above .40 long enough to keep stop under that
[14:48] {kschun} you use 1-min-charts - right vad?
[14:48] {Threei}  yes, and daily
[14:53] {kschun} CREE: about 95% of the bigger sizes traded on the ask during the last several minutes
[14:53] {Threei}  SPY hit .65 target
[14:53] {davd} ... and?
[14:53] {Threei}  what do you think that means?
[14:53] {nemo} .84 vwap likely to get there
[14:53] {kschun} yeah, knew I would regret not listen to vad... :-)
[14:54] {davd} going higher?
[14:54] {kschun} loke at ,,,,,.com it explains you what it means...
[14:54] {Threei}  nah
[14:54] {Threei}  you tell me
[14:54] {Threei}  CREE 1:1
[14:54] {davd} goes to vwap
[14:54] {RonS} where?
[14:54] {nemo} vwap
[14:55] {RonS} do not have what price?
[14:55] {nemo} [14:55] {nemo} .84 vwap
[14:56] {strider} long fdx .32
[14:56] {nemo} [14:30] {nemo} spy probably to .76 area vwap @.84
[14:57] {kschun} o.k. it only means something when symbol you are trading is at an important price level
[14:57] {kschun} so first charts
[14:57] {Threei}  OK, let's assume it's important price level
[14:57] {Threei}  what do big prints at the offer mean?
[14:57] {nemo} depends on if the offer lifts
[14:57] {kschun} then for example for breakouts: it shows if the speculant money (daytraders) are ready to pay the spread
[14:58] {kschun} and not taking ecn rebates.
[14:58] {Threei}  so?
[14:58] {strider} stop fdx -.21
[14:58] {kschun} if several bigger size trades appear on the ask short term traders are ready to take more risk
[14:59] {kschun} so breakout becomes more probability
[14:59] {Threei}  what if there are more shares offered than day traders are willing to buy?
[15:00] {kschun} showing resistance level. especially if there are hidden orders (showing several hundreds and taking several thousands)
[15:00] {kschun} price probably will drop.
[15:00] {kschun} all this is unusable without finding important price levels
[15:00] {Threei}  so how does the fact of big prints at the offer help?
[15:00] {kschun} it can help you finding less risky entries before breakouts
[15:01] {kschun} you can enter for example at 9.95 instead of waiting the 10 break of highs
[15:01] {kschun} just example
[15:01] {Threei}  how? if you don't know whether there are more shares offered than buyers want to take or not?
[15:02] {kschun} if I see that all shares at the ask traded and no one absorbing much more then he is showing this CAN BE an additional sign for break
[15:02] {Threei}  and think of what happens if breakout doesn't come and all those who took big shares want out
[15:02] {kschun} then I have a problem
[15:02] {kschun} :-)
[15:02] {Threei}  not just problem,
[15:02] {Threei}  drop will be much fastr than you are likely to handle for a safe stop
[15:02] {Threei}  so how is it less risky?
[15:03] {kschun} I just often feel that this can help me
[15:04] {kschun} also when it maybe only to know if daytraders are ready to pay the spread or not
[15:04] {kschun} this can be an additional sign making me more confident in the trade
[15:05] {kschun} just above ,,,,,,.com: was not advertisement for it. I don't use it. but know one guy using it since about 10 years and said couldnt trading without it
[15:06] {Threei}  I know hundreds of guys who can and do trade without it
[15:06] {kschun} right - I said, just can be helpful. I do not use it at all. same as indicators.
[15:06] {kschun} best traders I know don't use them
[15:06] {kschun} ore just use them but completely different then 99% of all traders...
[15:07] {dino} .
[15:07] {kschun} vad: you said last time something about bollinger bands.
[15:08] {kschun} like "they can be a great tool, but not with using them like "buy on the lower band, sell on the uper band""
[15:08] {Threei}  no
[15:08] {kschun} and this is like 99% of all people use them and lose money
[15:10] {kschun} I know my IQ, so I know that I am more intelligent then 99% (still more then 99% actually) then all the other people.
[15:10] {kschun} and gues what: it does not make live easier.
[15:10] {strider} it's getting pretty deep in here.
[15:10] {Threei}  actually, just the opposite
[15:10] {kschun} the stupider you are, the more easily live is
[15:10] {nemo} GM had to halt pickup production from lack of parts from Japan
[15:10] {kschun} my IQ only brought me problems in live, almost never solutions...
[15:11] {Threei}  Federal Reserve nearing announcement signaling which banks are approved for dividend increases - finanical press
[15:11] {Threei}  - could come as early as tomorrow.
[15:11] {Threei}  - Will also likely discuss recent stress tests results with banks on an individual basis.
[15:11] {nemo} this has been an issue since childhood I gather
[15:11] {kschun} :-)
[15:11] {rambler} Vad, extrapolate on b bands when time permits....pls
[15:12] {Threei}  went over videocourse yet, rambler?
[15:12] {rambler} yes
[15:13] {Threei}  then you know all I have to say about them :)
[15:13] {Threei}  Asustek Computer Unveils new large-screen tablet for Japan markets - Nikkei News-12.1in Eee Slate priced at 99.78K runs on Win7 OS and powered by Intel's i5 chip - more powerful than that of competitors
[15:13] {rambler} probably need another go around.....
[15:13] {Threei}  I view them as a tool to see where the stock is in terms on valatility
[15:13] {Threei}  they tighten to signlan sharp move coming,
[15:14] {Threei}  they widen to signal a stall
[15:14] {kschun} yep, see NR 7
[15:14] {Threei}  neither is indicative of direction by itself,
[15:14] {Threei}  sometimes they help with entry,
[15:14] {Threei}  like double bottom classic signal where first bottom isoutside of BBs while seind is within
[15:15] {Threei}  second
[15:15] {Threei}  overall, they provide nice visual help
[15:15] {Threei}  and that's about it
[15:16] {Threei}  for technical types, they may be used in combination with oscilator
[15:16] {rambler} I try to use bb and Macd together ....
[15:16] {Threei}  RSI or MACD is most often used with them
[15:17] {rambler} thanks Vad...
[15:17] {Threei}  All Nippon Airways Co Ltd Nikkei News comments on heightened international concerns over radiation-exposed cargo from Japan; On Wednesday, ANA plant from Narita to China was forced to return without unloading because of higher than normal radiation measures
[15:18] {nemo} shoulda' listened to me sneeze
[15:18] {kschun} what I really have to say about Vad's trading is: all the guys earning money on trading talked about hit ratios of 40-50%, some may 60%. what vad does I really never have seen anywhere else and never thought
[15:18] {kschun} that it is possible
[15:18] {Threei}  yet you are trying to teach me {G}
[15:19] {nemo} on that's about that time for me to go off and market instruments of death, destruction, and mayhem
[15:19] {Threei}  market them good, will ya?
[15:20] {kschun} Vad: if in ten hears I am about 50% so good as you are I am proud of me :-)
[15:20] {Threei}  I don't plan on living that long
[15:20] {kschun} LOL
[15:20] {nemo} Pride always cometh before the fall
[15:20] {kschun} yeah, you have to change to brocoli my friend :-)
[15:20] {RonS} and i thought it was summer...
[15:21] {Threei}  in that case I wouldn't plan on living at all
[15:21] {nemo} gag
[15:21] {kschun} LOL
[15:21] {kschun} you still in CREE vad?
[15:22] {Threei}  half
[15:22] {kschun} nice looking good here
[15:24] {rambler} bot LVS L 37.33
[15:26] {nemo} amazing, I shut down, LASER and browsers, my computer temp drops 10 C
[15:26] {rambler} bad idea...out...
[15:27] {Threei}  (US) Treasury Sec Geithner: Regulators to finalize criteria classifying non-bank financials as systemically important- Also notes regulators have become "relatively close" to establishing rules on risk retention
[15:30] {dino} trgt new lows
[15:31] {kschun} SLV bounce vad?
[15:32] {Threei}  only if you want to work for a few cents
[15:32] {dino} ok, calling it a day. thx all
[15:33] {Threei}  take care dino, have fun and avoid heavy hangover
[15:33] {rambler} cya dino...
[15:33] {RonS} cya dino, happy bday again
[15:33] {kschun} great eve dino!
[15:33] {kschun} ah yeah, have a great birthday man! wish you really good luck!
[15:34] {dino} thx all, going for a green beer
[15:35] {Threei}  Prez on TV with remarks on Japan
[15:35] {kschun} did nemo's computer explose?
[15:35] {kschun} or implode :-)
[15:36] {RonS} is O in radiation suit?
[15:37] {Threei}  can't tell, I muted it
[15:38] {Threei}  oh come on... this was my best joke of the day
[15:38] {ese} catch you all tomorrow
[15:38] {kschun} nice eve ese!
[15:39] {Threei}  take care ese
[15:39] {ese} cya K
[15:39] {ese} vad
[15:39] {rambler} cya ese...
[15:40] {kschun} tell you another joke: german guy coming to switzerland, wants to open a bank account. goes in the bank to the counter and wispers: " would like to open a bank account with 1 Mio. EUR.
[15:40] {kschun} banking guy answers: " you don't have to whisper sir. there is no problem about being poor" ::::
[15:40] {kschun} :-)
[15:41] {Threei}  Ron?
[15:41] {RonS} ...yes...
[15:41] {Threei}  and you thought I was bad at it?
[15:41] {RonS} well, i think he is young...
[15:41] {Threei}  oh, so he can still get worse?
[15:42] {RonS} hehe
[15:42] {kschun} LOL
[15:43] {kschun} didn't want to tell the bad ones, this chat got published, so I respect VAD' s website :-)
[15:43] {Threei}  US) President Obama: Beyond the 50mi radius imposed by US officials, no radiation danger expected; Do not expect harmful levels of radiation to reach US shores, including Hawaii/Alaska
[15:43] {Threei}  - Nuclear power, along with clean-energy souces such as wind/solar, remain part of US energy policy
[15:43] {Threei}  - Confident Japan will recover and rebuild.
[15:43] {RonS} what a bozo...could have issued written statement
[15:44] {kschun} o.k. guys, gona call it a day. 3 winners, one on entry. however it is always the bad days which shows what kind of trader you are
[15:44] {Threei}  take care ks
[15:44] {kschun} and there I really have to say I still have a lot to learn in daytrading
[15:44] {kschun} great eve to all of you!
[15:45] {Threei}  caught a nuclear scientist on TV yesterday, honest one not lookng to present himself as omniknowing
[15:45] {Threei}  answered to some of questions:
[15:46] {Threei}  if this and that happens - I have no idea what happens next, and do not believe anyone who tells you they do,
[15:46] {Threei}  this kind of situations and temperatures they create was never tested,
[15:46] {Threei}  never studied,
[15:46] {Threei}  no one knows what happens to this or that material under such conditions.
[15:47] {Threei}  To the qustion "so what's our best hope" he said:
[15:47] {Threei}  hope that we never learn
[15:52] {Threei}  thank you all, have a good evening
[15:52] {Threei}  see you tomorrow
[15:56] {rambler} thanks Vad...