Thursday, June 2, 2011

Jun 02 2011

Not a stellar but still positive day. A few sudden news-caused movements disrupted normal market flow leaving us with no setups to enter. Those that appeared though were enough to keep us in green. What would we do without SLW to short.

Session Time: Thu Jun 02 00:00:00 2011
[08:35] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 422K V 417KE; CONTINUING CLAIMS: 3.711M V 3.68ME
[08:36] {Threei}  - Prior Initial Jobless Claims revised higher from 424K to428 K
[08:36] {Threei}  - Prior Continuing Claims revised higher from 3.690M to 3.712M
[08:36] {Threei}  - 4 week avg claims:426K v 440K prior
[08:36] {Threei}  recovery you say
[09:15] {Threei}  ok... probably time to start waking up
[09:15] {Threei}  watching SLW consolidation range
[09:15] {rizvisy1} gm
[09:15] {Threei}  riz :)
[09:15] {RonS}
[09:15] {Threei}  ron :)
[09:18] {dino} gm all
[09:19] {RonS} sorry but this upsets me...thievery and corruption abounds...the ed stock ruling was foretold in unusual call buying yesterday in apol et al
[09:19] {Threei}  dino :)
[09:20] {RonS} reported on cnbc last night...and the government has exempted themselves from prosecution on this
[09:21] {RonS} hacks me off and i was not short...
[09:21] {dino} god thing
[09:22] {Threei}  FCX is on watch too
[09:22] {dino} good
[09:22] {Threei}  first idea on bot is short
[09:23] {Threei}  small gap up feels to me so far as a reflexive reaction to all the selling yesterday, with selling pressure resuming very soon
[09:23] {nemo} Short:  SLW
[09:24] {nemo} nahhh...keep going up the thinking being....
[09:24] {nemo} nah, that's not gangrene, it's just a bruise
[09:25] {dino} pop and drop imo
[09:26] {ese} morning
[09:26] {Threei}  ese :)
[09:27] {RonS} ese, dndn got an upgraded from gs...16 mil sh short...could break out and run...
[09:27] {jfjf64} mornin
[09:27] {Threei}  jf :)
[09:28] {RonS} gs pegged dndn $50 target
[09:28] {ese} tks ron....will deep an eye out
[09:30] {Threei} Short Setup: SLW  36 break
[09:30] {Threei}  stop above .10
[09:31] {gregns} repeat that pls
[09:31] {gregns} the call pls
[09:31] {Threei}  ?
[09:31] {nemo}  {&Threei} Short Setup: SLW  36 break
[09:31] {gregns} tks
[09:32] {jfjf64} coformation
[09:32] {jfjf64} lol
[09:32] {ese} huh
[09:32] {nemo} oy, buying on the bid it breaks .o4 not good
[09:33] {Threei}  stopped
[09:35] {Threei} Short Setup: RIMM  .45 break
[09:35] {Threei}  if stays under .55
[09:35] {Threei}  two-sided
[09:36] {Threei}  long it is
[09:38] {Threei}  wow
[09:38] {gregns} how strong it is
[09:38] {jfjf64} wow  it  is
[09:38] {Threei}  1:2, get out
[09:38] {Threei}  look at SPY
[09:39] {Threei}  here is a sneak peak into economic disaster looming:
[09:39] {Threei}  (CH) Former PBoC Advisor: Slowing economic growth might cause major systemic risks - financial press
[09:39] {Threei}  - China needs to sustain 8% to 9% gdp over the next decade
[09:40] {Threei}  The Goldman Sachs Group Inc Spokesperson: cooperating fully with subpoena received from NY state prosecutor last week
[09:40] {Threei}  - REMINDER on 5/19: Expected to soon receive a subpoena from prosecutors in the US related to the firm's mortgage business - US financial press
[09:40] {Threei}  was it perfect exit on RIMM or what?
[09:40] {rizvisy1} I really need to understand two-sided?
[09:40] {gregns} yup
[09:40] {jfjf64} yes
[09:41] {Threei}  riz, two numbers are given,
[09:41] {Threei}  in this case with RIMM:
[09:41] {Threei}  .45 and .55
[09:41] {rizvisy1} yes...
[09:41] {Threei}  break of .45 is short with stop above .55
[09:41] {Threei}  break of .55 is long with stop under .45
[09:42] {rizvisy1} ok, got it thanks
[09:42] {Threei}  whichever side triggers first, determines the play
[09:42] {Threei}  while of course invalidating the other
[09:42] {Threei}  thus, after .55 break I said
[09:42] {Threei}  [09:36] {Threei} long it is
[09:43] {Threei}  ok, here is interesting thing
[09:43] {Threei}  SPY is tanking
[09:43] {Threei}  no stock follow
[09:43] {jfjf64} hmm
[09:43] {Threei}  TZA or ERY seem to be the only valid way to play this
[09:43] {dino} tfm
[09:43] {rizvisy1} what is entry point since it already climbed well above .55 for long
[09:43] {Threei}  .55 break is trigger
[09:44] {Threei}  when it climbed "well above" it's time to exit
[09:44] {Threei}  thus the comment:
[09:44] {ese} dino coco is acting up.....
[09:44] {jfjf64} gs  tanking
[09:44] {Threei}  [09:38] {Threei} 1:2, get out
[09:44] {rizvisy1} yes make sense..
[09:44] {Threei}  overall, you don't chase more than 1-3 cents above trigger
[09:45] {Threei}  BAC Moodys puts BoA, Citi and Wells Fargo ratings on review for potential downgrade
[09:45] {jfjf64} dv  .10 break
[09:45] {jfjf64} short
[09:46] {ese} linc as well
[09:46] {jfjf64} no clean  set up
[09:46] {ese} US Dept of Education to officially releases new "gainful employment" rules today (update)- The Dept of Education disclosed details of the new gainful employment rules to Congressional staffers last night. To qualify for federal student aid, students at for-profit schools must meet one of the three following criteria:
[09:46] {ese} At least 35% of former students must be paying down their loan balances by at least $1. Previously the repayment rate was above 45%. Programs fell into a "danger zone" with rates between 35% and 45%. - A typical graduate's loan payment cannot exceed 30% of discretionary income. Previously graduate debt burdens limits were 20% of discretionary income. - A typi
[09:47] {ese} - A typical graduate's loan payment cannot exceed 12% of total earnings. Previously it was 8% of total income  Have Market Intel? Tip Line -} Click Here
[09:47] {Threei}  banks are tanking
[09:47] {ese} why would this send ed stocks up
[09:48] {ese} so are spyders
[09:48] {Threei}  not delighted - thiese spikes occur without setups
[09:48] {jfjf64} clean up is upon us
[09:48] {Threei}  let's see if we can catch WFC short into bounce
[09:49] {dino} has sm l .41
[09:50] {davd} goldman subpoena civil
[09:50] {Threei}  alternatively, FAZ long on pullback
[09:50] {Threei}  davd, seriously... take me off ignore, will ya
[09:51] {Threei}  09:40] {Threei} The Goldman Sachs Group Inc Spokesperson: cooperating fully with subpoena received from NY state prosecutor last week
[09:51] {Threei}  [09:40] {Threei} - REMINDER on 5/19: Expected to soon receive a subpoena from prosecutors in the US related to the firm's mortgage business - US financial press
[09:51] {samire} Dino...I know HAS is a stock...what do u mean by saying sm ?
[09:51] {dino} sm=400 shares
[09:52] {samire} long ?
[09:52] {dino} l=long
[09:52] {dino} yes
[09:52] {RonS} l= long
[09:52] {samire} just making sure
[09:52] {Threei}  FAZ
[09:52] {RonS} sm= small
[09:52] {Threei}  46 support
[09:52] {davd} damn:(
[09:52] {samire} Thanks Dino
[09:52] {dino} np=no problem
[09:53] {Threei}  WFC no bounce to speak of
[09:53] {davd} moodys ratings of banks under review
[09:54] {RonS} lol
[09:54] {Threei}  shoot me now
[09:54] {RonS} rotflol
[09:54] {Threei}  how did I manage to get on a bad side of davd that deeply, I've no idea :)
[09:56] {Threei} Short Setup: WFC  .55 break
[09:56] {Threei}  if stays under .65
[09:56] {Threei}  not a scalp
[09:56] {Threei}  targeting 1:3
[09:57] {samire} stop is always 10 cents above ?
[09:57] {Threei}  no, but I try to pick the charts that provide this size
[09:59] {_taxx31} wfc short still on ?
[09:59] {Threei}  Bank of New York Company Inc Moodys changes outlook to Negative from Stable
[09:59] {davd} not on my bad side - :D
[09:59] {Threei}  they are really moody on banks today
[09:59] {Threei}  yes taxxxx
[10:00] {rizvisy1} so many xxxxx
[10:00] {Threei}  stop is above .65 on it
[10:00] {Threei}  *(US) APR FACTORY ORDERS: -1.2% V -1.0%E
[10:00] {_taxx31} i could have scalped .10 on BAC this morning and now im on the downside by .10 but it was a longer term hold anyway
[10:01] {Threei}  I am not a long term hold fan or expert, but why would you want to hold it, I can't imagine
[10:01] {Threei}  disgusting chart
[10:02] {dino} thrx sm l .82
[10:02] {_taxx31} oversold.
[10:02] {Threei}  ah, that
[10:02] {Threei}  trend follower's mantra:
[10:03] {_taxx31} .50s hitting on wfc
[10:03] {Threei}  oversold gets overdoler before it gets oversoldest, and then sells some more
[10:03] {Threei}  1:1, half out
[10:04] {RonS} wfc .56 to .40  thanks 3i
[10:04] {Threei}  :)
[10:04] {samire} we got stoped on wfc     .66
[10:05] {_taxx31} u got quick trigger finger ron
[10:05] {_taxx31} barely saw the .40 print
[10:05] {Threei}  offer never went above stop level, those were erroneous prints
[10:05] {Threei}  or rather out of market prints
[10:05] {Threei}  are you using automated stops samire?
[10:05] {RonS} had limit order in lucky...
[10:06] {Threei}  taxx, there was prints under .40
[10:06] {Threei}  it went to .37
[10:06] {RonS} yep
[10:06] {samire} yes
[10:06] {Threei}  yikes
[10:06] {Threei}  those will get you more often than help you
[10:06] {Threei}  why do you need them?
[10:07] {samire} i made up with thrx  from Dino
[10:07] {Threei}  you are right here, watching your trade, can't you execute manually?
[10:07] {samire} thanks Dino
[10:07] {dino} gj ron, lay out, its what i do too
[10:07] {dino} gj samire
[10:07] {samire} i can
[10:07] {Threei}  out of bounds prints will trigger automated stops
[10:08] {Threei}  while manual execution keep you in control
[10:08] {samire} Dino for world president 2012
[10:08] {RonS} watcha thinkin tgt thrx dino?
[10:08] {_taxx31} wfc broke .55 again
[10:08] {dino} .32
[10:08] {Threei}  it doesn't mean anything this time taxx
[10:08] {Threei}  there is no setup here
[10:09] {dino} .12 at min ron
[10:09] {dino} sitting at .32
[10:14] {ese} we say that in music....when in doubt....lay out
[10:16] {Threei} Long Setup:  SLW  .10 break
[10:17] {Threei}  if stays above .05 for superduperextrascalpers, above 36 for sane traders
[10:18] {_taxx31} 36 ? isnt that .75 below
[10:18] {_taxx31} oh nvm
[10:18] {_taxx31} lol 36$
[10:18] {Threei}  don't like these sharp spikes today
[10:19] {Threei}  very nervous market
[10:19] {dino} and drops
[10:19] {Threei}  yesterday's selling was orderly, provided for many easy setups
[10:19] {Threei}  today it's chaos
[10:21] {jfjf64} cost
[10:21] {jfjf64} ?
[10:21] {jfjf64} .15  break
[10:21] {Threei}  yes
[10:22] {Threei}  two day's support .14
[10:24] {Threei}  cover first part here
[10:24] {jfjf64} half  here
[10:24] {jfjf64} yes
[10:24] {Threei}  stop .21
[10:24] {_taxx31} i meant to sell BAC and i bought MORE OMG
[10:24] {Threei}  what's your average price taxx?
[10:25] {_taxx31} ok i got out flat
[10:25] {_taxx31} luckily i was in at .24
[10:25] {_taxx31} accidentally bought .19 ....flat was .215
[10:25] {_taxx31} got out .21
[10:27] {_taxx31} vad
[10:27] {_taxx31} SLW dropping like a rock
[10:28] {Threei}  yes?
[10:29] {nemo} silver dropped like rock
[10:30] {jfjf64} done  2nd  piece  cost
[10:32] {davd} fas green
[10:33] {_taxx31} i sell bac for a flat and now it goes green. =)
[10:33] {Threei}  taxx... pause for a minute and listen
[10:33] {Threei}  you don't trade on hunch, on price you like or chicken entrails
[10:33] {Threei}  you trade on valid setups
[10:33] {Threei}  was there a setup for your entry?
[10:34] {Threei}  was stop set properly?
[10:34] {Threei}  was it hit?
[10:34] {Threei}  was target reached?
[10:34] {_taxx31} no no no
[10:34] {Threei}  there you go
[10:34] {Threei}  it's irrelevant what happened after
[10:34] {Threei}  it's irrelevant that some price point appeared
[10:35] {Threei}  one, and only one thing matters:
[10:35] {Threei}  market instructed you to eneter and exit through certain action or not
[10:35] {_taxx31} thank you
[10:35] {Threei}  determine what that action is,
[10:35] {Threei}  how you read those instructions and how you react on them
[10:35] {Threei}  For us, it's a chart configuration
[10:36] {Threei}  where we have determined our triggers, stops and targets
[10:36] {Threei}  every call we make here is based on those
[10:36] {Threei}  whatever stock does in this or that trade is irrelevanrt,
[10:36] {Threei}  any given trade may or may not work
[10:37] {Threei}  but applying these setups for 11 years of this room existence we have consistent profiuts
[10:37] {_taxx31} yes sir
[10:37] {nemo} wow, he called you "Sir"
[10:38] {nemo} somebody get the smelling salts
[10:38] {Threei}  some people are plite nemo
[10:38] {Threei}  polite
[10:38] {nemo} some can type also
[10:38] {Threei}  I know it's a new concept for you {G}
[10:38] {Threei}  just as typing for me
[10:38] {nemo} remember that request for masochism?
[10:39] {Threei}  watch SLW for dive under .80, staying above .70 and recross of .80 for long
[10:39] {davd} yes, but "sir" in russian means something else
[10:40] {Threei}  close to "cheese" but pronounced a bit differently
[10:40] {dino} uvv sm l .90
[10:41] {Threei}  SLW, never mind that
[10:43] {samire} Dino....UW is not a valid symbol
[10:44] {Threei}  U V V
[10:44] {samire} thanx
[10:45] {dino} lol
[10:47] {ese} got a live one i think dino.....VRA.....give me your opinion on the news seems ok to me
[10:48] {dino} ok
[10:48] {nemo} ftnt
[10:48] {ese} dn 6 bills too
[10:48] {nemo} spready
[10:48] {ese} y true nemo
[10:49] {nemo} 39.50 area
[10:49] {samire} where is your stop Dino on U V V
[10:49] {nemo} could hold here as the range break
[10:49] {dino} dk ese, they were raggin' it on cnbc this am
[10:49] {dino} .59 samire
[10:50] {dino} lets try sm l break .00
[10:50] {ese} L .86 vra
[10:51] {ese} sm 300
[10:51] {ese} stop .49
[10:52] {dino} took .95
[10:53] {dino} no follow thru today
[10:53] {ese} that 60K volume spike helped me make up my mind...capitulation
[10:54] {Threei}  feels to me like selling is about to return in the market
[10:55] {dino} random dance market
[10:56] {Threei}  today, yes
[10:56] {Threei}  a bit confused, looking around and not knowing which way to go
[10:56] {nemo} range day so far
[10:57] {Threei}  asking "how to determine where the south is by looking at the tree"
[10:57] {Threei}  and hearing back: if tree is a palm tree, south is right here
[10:57] {Threei} Short Setup: SLW  .70 break
[10:58] {Threei}  if stays under .80
[10:58] {Threei} Short Setup: RIMM  .80 break
[10:59] {Threei}  if stays under .90 of course
[11:00] {Threei}  *DOE CRUDE: +2.9M V -1ME; GASOLINE: +2.6M V +500KE; DISTILLATE: -1.0M V -500KE;
[11:01] {dino} wow bap
[11:02] {Threei}  SLW 1:1, half out
[11:02] {Threei}  stop to .81
[11:03] {Threei}  sorry, .71
[11:03] {dino} vra stopped
[11:04] {ese} stopped vra
[11:04] {ese} daaaaaaaaaaaa
[11:04] {Threei}  RIMM, tighten stop top .86
[11:04] {Threei}  was too close to 1:1
[11:05] {Threei}  closed RIMM
[11:05] {dino} tfm sm l .01 "pulp"
[11:06] {ese} L tfm .97
[11:07] {Threei}  SLW 1:3
[11:07] {Threei}  feel fee to close the trade
[11:08] {ese} you called it chief.......mrkt selling off
[11:08] {Threei}  taxx, to cite an example of how the approach described earlier works
[11:08] {Threei}  two calls, both based on valid setups and general market read,
[11:08] {Threei}  one gets stopped for 7 cents
[11:09] {Threei}  another works for 30 cents
[11:09] {Threei}  40 actually, but we exited already
[11:09] {Threei}  RIM rinsed
[11:09] {_taxx31} yep
[11:09] {_taxx31} ty
[11:10] {Threei}  so this is just what you do.. go with valid setups and let market tell you what it is, stop or win,
[11:10] {Threei}  take either with no emotions
[11:10] {_taxx31} 1:4 out
[11:10] {Threei}  aside from occasional spitting in the monitor
[11:10] {ese} strange things happenin.........and only the shadow knows for sure.......
[11:10] {Threei}  for which cae you need a monitor with wipers
[11:10] {ese} lol
[11:10] {nemo} I start beating the bunny
[11:11] {ese} for spitin on it or cryin on it?
[11:11] {Threei}  and over time it's going to work for you in a consistent string of wins interrupted by occasional replacementof wiper blades
[11:11] {Threei}  SLW 1:5
[11:11] {Threei}  crap, that was a milk trade
[11:11] {Threei}  time for wipers
[11:12] {Threei}  but RIMM{ jeez
[11:12] {_taxx31} SLW 1:5 all out
[11:12] {Threei}  that was so wrong on it's part to rinse us
[11:12] {_taxx31} tyyyyyyyyy
[11:12] {ese} L vra .96
[11:12] {Threei}  welcome sir
06[11:12] * Threei can be polite too... although rarely
[11:12] {_taxx31} still no green candle on the 2s
[11:12] {_taxx31} but i took the 1:5
[11:12] {_taxx31} 1:7
[11:12] {Threei}  good
[11:12] {_taxx31} lol
[11:12] {Threei}  be reasonable
[11:13] {_taxx31} yeah im already out but this is hitting 1:7 ... should bounce
[11:13] {Threei}  trading is like breathing
[11:13] {Threei}  inhale and exhale
[11:13] {Threei}  don't hold your breath for too long, or you'll go blue in face
[11:13] {nemo} gonna test index lows
[11:13] {_taxx31} ill be back 1 hr.
[11:13] {_taxx31} got some house things to do
[11:13] {Threei}  I'd say this SLW drop is morw than enough to exhale
[11:13] {_taxx31} ty vad
[11:14] {Threei}  welcome
[11:14] {Threei}  we will be here in an hour too
[11:14] {Threei}  although may be in coma
[11:15] {_taxx31} last comment before i take a break
[11:15] {_taxx31} these are all shorts coming through on SLB
[11:15] {_taxx31} 100 shares
[11:16] {_taxx31} SLW*
[11:16] {_taxx31} sry
[11:16] {dino} f'ing vra partial fill l .00
[11:16] {ese} out vra .30
[11:16] {Threei}  I don't understand what you mean
[11:16] {Threei}  wtg ese
[11:17] {ese} that was a "grrrrrrrrrrrrrrr" trade.......take that you baaassssstad
[11:17] {dino} gj
[11:17] {ese} still dn .02 in it though grrrrrrrrrrrrrrrrrrr
[11:17] {Threei}  (SP) Negotiations between Spanish unions and employers have broken down - financial press***Note that earlier today the Spanish PM said the govt would approve wage rules on June 10th with or without a union deal.
[11:19] {ese} out tfm .31 +.34
[11:19] {dino} gj
[11:20] {ese} tks....3/4 so good enough
[11:23] {dino} tfm to .34
[11:24] {ese} ridem cowboy dino!!!
[11:24] {Threei}  so far initial market read wasa right
[11:24] {Threei}  [09:23] {Threei} small gap up feels to me so far as a reflexive reaction to all the selling yesterday, with selling pressure resuming very soon
[11:24] {Threei}  now, if we make new lows, we have a good chance of selling panic returning,
[11:25] {Threei}  and today becoming a repetition of yesterday,
[11:25] {Threei}  relentless selling with no, ummm, relenting
[11:26] {ese} lol........thats good ....i like that
[11:27] {dino} to .39 tfm
[11:28] {dino} here comes dji new lod
[11:28] {dino} out tfm +.38
[11:28] {Threei}  QID, TZA, ERY
[11:28] {Threei}  pick your poison
[11:28] {ese} "looooooooooook ouuuuuuuuuuuut beeeeeeeeeeelow"!
[11:29] {ese} good one dino
[11:29] {dino} has stop -.22
[11:30] {dino} s/p lod
[11:32] {Threei}  anyone went for ay of these breaks?
[11:32] {dino} out uvv .02, +.12
[11:33] {Threei}  Ireland govt discloses 10.2B budget deficit as of the end of May
[11:34] {Threei}  TZA is a pure unadultered beauty
[11:34] {nemo} missed that call
[11:35] {Threei}  well, you and davd...
[11:36] {nemo} yeah,,,taking a beating today takin a break
[11:37] {Threei}  well, as I said before... ignore me at your own peril
[11:38] {dino} messing w/the trading gods vad
[11:38] {Threei}  see, sooner or later their wrath will be felt anyway,
[11:38] {rizvisy1} .
[11:38] {Threei}  so meanwhile I can have little fan :)
[11:39] {Threei}  fun too
[11:40] {dino} tfm sm l ave .03
[11:46] {jfjf64} kss
[11:46] {jfjf64} .30 short
[11:48] {jfjf64} take  .22 out
[11:48] {nemo} mmhhhh...panic is in the air
[11:49] {jfjf64} comonnnnnnnnnnn
[11:49] {jfjf64} half out
[11:50] {jfjf64} stop b/e   2nd piece
[11:52] {Threei}  wtg
[11:52] {_pragmatic} wtg ?
[11:52] {Threei}  way to go
[11:52] {_pragmatic} ah
[11:52] {rizvisy1} .
06[11:53] * Threei offers a new service: [09:23] {Threei} small gap up feels to me so far as a reflexive reaction to all the selling yesterday, with selling pressure resuming very soon
[11:53] {Threei}  [11:24] {Threei} now, if we make new lows, we have a good chance of selling panic returning,
[11:53] {Threei}  [11:25] {Threei} and today becoming a repetition of yesterday,
[11:53] {Threei}  [11:25] {Threei} relentless selling with no, ummm, relenting
[11:53] {Threei}  oops
[11:53] {Threei}  that's wrong paste
[11:53] {Threei}  here is right one:
[11:53] {Threei}
[11:53] {jfjf64} comon  kss
[11:54] {jfjf64} 51.00
[11:54] {Threei}  also, here is my favorite joke of late:
[11:54] {jfjf64} 1/4 here
[11:55] {Threei}
[11:55] {jfjf64} stop .21
[12:01] {dino} .
[12:01] {RonS} -
[12:02] {Threei}  \|/
[12:02] {jfjf64} stop .08
[12:04] {Threei}  pretty much sums up my view:
[12:04] {Threei}
[12:04] {jfjf64} all done 51.00
[12:05] {jfjf64} ah breath
[12:05] {Threei}  hmmm
[12:05] {Threei}  why?
[12:05] {dino} tfm stop -.32
[12:05] {jfjf64} iwas turnin  blue
[12:05] {Threei}  if you took two partials, you are secure,
[12:05] {Threei}  the thing hasn't been able to bounce whil,e market did
[12:05] {Threei}  those two partials are exhales
[12:05] {nemo} did you make another call vad?
[12:05] {jfjf64} it  was  stupid
[12:06] {Threei}  I'd give it a chance with stop being trailed where you have
[12:06] {Threei}  no nemo, commenting on jf's call on KSS
[12:06] {jfjf64} i  did  twice  today    cost  earlier
[12:06] {jfjf64} grr
[12:06] {jfjf64} look  this
[12:06] {Threei}  it's different
[12:07] {Threei}  back then we were in chaotic period
[12:07] {Threei}  not market pretty much settled in a pattern of selling pressure with weak bounces
[12:07] {Threei}  not = now
[12:07] {jfjf64} i kept  saying  to  self  market  bounce
[12:07] {jfjf64} kss  no  bounce
[12:07] {Threei}  market did, yes,
[12:07] {Threei}  but look how KSS didin't
[12:08] {jfjf64} yess
[12:08] {jfjf64} stop  sd  be  51.00
[12:08] {jfjf64} here
[12:08] {Threei}  this kind of tghings scream at me "hold it for more"
[12:08] {jfjf64} last 1/4
[12:08] {Threei}  well, 51.05
[12:08] {ese} L qpsa .40
[12:08] {jfjf64} yes
[12:08] {jfjf64} look  daily
[12:09] {jfjf64} demons  of buisness
[12:09] {jfjf64} 4 me
[12:11] {dino}  reverse your thinking
[12:14] {Threei}  to non-thinking
[12:15] {jfjf64} it does work  best
[12:15] {dino} yes, or expect to lose
[12:21] {dino} vra to .59
[12:22] {rizvisy1} 3i indicies are rising due to UUP effect?
[12:23] {dino} to .64
[12:23] {rizvisy1} any thoughts?
[12:23] {davd} vix red
[12:24] {dino} to .70
[12:25] {dino} stop vra .71, +.71
[12:27] {Threei}  part of it riz
[12:27] {rizvisy1} thnx
[12:27] {Threei}  overall, it's just meaningless technical up and down
[12:27] {rizvisy1} ya agree
[12:27] {Threei}  nothing goes one direction in a straight line
[12:27] {dino} imo, does not matter why, just trade it
[12:28] {_taxx31} lol SLW short went 1:10 haha wow
[12:29] {Threei}  dino's very, umm, _pragmatic
[12:30] {Threei}  but this is right... it's not like uptick and downtick has a reason beyond simple buyers and sellers' imbalance
[12:31] {dino} k.i.s.s. rule
[12:33] {_taxx31} hey Vad
[12:33] {_taxx31} i was about to short SLB at 84.00
[12:33] {_taxx31} i went to put order in ... next thing its at 83.82
[12:34] {_taxx31} this always happens to me this stock...i know it inside out...when its going to bounce and retreat
[12:34] {_taxx31} and before it hits it always reverses too fast for me
[12:34] {_taxx31} now @ 83.79... :/
[12:34] {dino} tfm sm l .52
[12:35] {Threei}  I sdon't see it moving all that fast
[12:35] {Threei}  you shouldn't have such a hard time executing orders on it
[12:35] {Threei}  unless you use TD for day trading
[12:35] {_taxx31} its much slower now
[12:37] {Threei} Short Setup: SLW  35 break
[12:37] {Threei}  if stays under .10
[12:39] {rizvisy1} too fast
[12:39] {Threei}  China Construction Bank Chairman: Expects to see CNY convertibility on captial accounts within five years; warns that Chinese housing market is a bubble
[12:39] {Threei}  - Impact of decline in housing in China should be limited, given that leverage has been low.
[12:39] {Threei}  - Expects USD to gain against EUR, believes the US will always be a good place to invest.
[12:39] {Threei}  - Bank's overseas assets will amount to no more than 5% of total in five years, up from 2% presently.
[12:44] {Threei}  no go
[12:44] {_taxx31} SLB struggling to break 84
[12:45] {dino} panl sm l .40
[12:46] {dino} tfm stop-.32
[12:47] {ese} been trying to milk tfm dino
[12:47] {Threei}  (GR) EU officials have agreed in principle on a 3 year adjustment with limited private sector involvement - financial press citing sources
[12:47] {Threei}  - Limits to private sector involvement for risk of credit events
[12:47] {Threei}  - New agreement would involve international funding
[12:47] {Threei}  - Reminder: Results from the Troika report on Greece are due tommorow
[12:50] {Threei}  this is lifting markets noqw
[12:50] {Threei}  now
[12:51] {Threei}  hope the Greece collapse with be postponed
[12:51] {Threei}  who cares that it will come anyway, and at much higher price
[12:51] {Threei}  "not on my watch" is the principle
[12:51] {dino} trying ese, but tough
[12:55] {ese} ya can see that
[13:25] {_pragmatic} hello, anyone home ??
[13:25] {nemo} NO
[13:25] {nemo} GO AWAY!!!
[13:25] {Threei}  sheesh... don't yell
[13:25] {Threei}  woke me up
[13:25] {_pragmatic} :)
[13:26] {Threei}  great... now he is smiling... sadist
[13:26] {_pragmatic} yeah. wake up and give use some good trades
06[13:26] * Threei digs in his box with fish to find the smelliest one
[13:27] {Threei}  here it is
06[13:27] * Threei slaps _pragmatic around a bit with a very old, very dead and very stinky trout
[13:28] {_pragmatic} hate fish
[13:28] {Threei}  oh good
[13:28] {Threei}  that was effective choice on my part then
[13:28] {nemo} why don't you give him some spanish cucumbers Vad?
06[13:28] * Threei looks around, fish in hand, searching for someone else in urgent need of good trades
[13:30] {Threei}  I am a fan of simple solutions, nemo... he hates fish, why would I look for anything else
[13:30] {Threei}  I was right:
[13:30] {Threei}  Euro vs US Dollar Extending gains to $1.4490 following press reports of a Greece resolution announcement expected tomorrow - 4-week highs
[13:31] {Threei}  (US) Moody's states it could put US govt rating on downgraded review if there is no progress on debt limit
[13:31] {nemo} LTD
[13:31] {Threei}  'em are fightin' words
[13:38] {_taxx31} shorted SLB 1k @ $83.92
[13:38] {_taxx31} covered SLB 1k @ $83.78
[13:39] {Threei}  not bad
[13:39] {Threei}  I like setup too
[13:40] {_taxx31} ty sir
[13:40] {_taxx31} it rolled over on 5s
[13:41] {_taxx31} once it broke 84...i waited confirmation .95 then i jumped in
[13:41] {Threei}  see nemo? "Polite conversation between gentlemen" - look it up
[13:41] {nemo} no
[13:41] {RonS} cbd...nuts dino
[13:45] {rizvisy1} .
[13:47] {dino} yes, played it yesterday
[13:56] {_taxx31} bought SLB 1k @ $83.84
[13:56] {_taxx31} sold SLB 1k @ $84.18
[13:57] {_taxx31} shorted down and bounced up caught it both ways
[13:57] {_taxx31} woooooooooooooooo
[13:57] {_taxx31} oh damn it exploded
[13:57] {Threei}  market spiked
[13:58] {ese} gotta go gonna hold qpsa to the end of the day
[13:58] {Threei}  and this:
[13:58] {Threei}  FCX S&P puts BBB- ratings on Watch Positive
[13:58] {Threei}  take care ese
[14:01] {_taxx31} vad
[14:01] {_taxx31} i dont get that though... how does market just spike
[14:01] {_taxx31} lol people just decide..oh these reports came out..lets buy stock
[14:01] {_taxx31} idiots imo
[14:01] {Threei}  shrug
[14:02] {_taxx31} vad SLB
[14:02] {_taxx31} short this thing
[14:02] {Threei}  you want to study mass psychology to understand its underlying reasons, or to use it?
[14:02] {_taxx31} yeah
[14:02] {Threei}  why would you want spiking stock with no setup?
[14:02] {Threei}  how do you determine entry point, just by guess?
[14:02] {_taxx31} it just crossed daily high
[14:03] {Threei}  so?
[14:03] {_taxx31} no MACD reversing
[14:03] {_taxx31} volume dying
[14:03] {_taxx31} level 2's
[14:03] {Threei}  OK
[14:03] {Threei}  our setups are different
[14:03] {_taxx31} it shot straight has to have a trace back
[14:04] {Threei}  all that is underlying iobservations
[14:04] {Threei}  they have no major component:
[14:04] {Threei}  timing
[14:04] {_taxx31} it spiked $0.70 on 70 thousand shares
[14:04] {rizvisy1} LVS good candidate too Vad...
[14:04] {_taxx31} yeah i guess
[14:04] {dino} panl boounce
[14:04] {Threei}  there should be something determining exact entry point
[14:04] {_taxx31} look at chart now
[14:04] {_taxx31} first on 2s
[14:04] {_taxx31} then 5s
[14:04] {rizvisy1} resistance at .31 for LVS
[14:05] {rizvisy1} ur thoughts?
[14:05] {Threei}  otherrwise you may enter such spike short at any point during this spike,
[14:05] {Threei}  all the way from 84 to 84.70
[14:05] {_taxx31} no i wait for first red candle on 2s
[14:05] {_taxx31} then switch to 5s for confirmation of chart rollover
[14:05] {Threei}  none here riz, no setup yet
[14:05] {_taxx31} and for a scalper that will get u .10 on a stock like SLB
[14:05] {Threei}  OK
[14:06] {Threei}  I ave a request for you
[14:06] {Threei}  post your trades if you wish, this is always welcome
[14:06] {Threei}  play ours,
[14:06] {_taxx31} i do today
[14:06] {_taxx31} i play those too :D
[14:06] {Threei}  ask questions if you have them,
[14:06] {Threei}  but don't insist that we change what and how we trade
[14:07] {_taxx31} no i havent done that at all sir
[14:07] {Threei}  we do it long enough to stay with our mehtods
[14:07] {_taxx31} none whatsoever
[14:07] {_taxx31} im here to learn and trade by your methods
[14:07] {_taxx31} on the side..i do what i like as well
[14:11] {Threei} Short Setup: CAT  .50 break
[14:11] {Threei}  half lot
[14:11] {Threei}  if stays under .60
[14:12] {rizvisy1} _taxx31
[14:13] {Threei}  another market spike
[14:13] {Threei}  don't like today at all
[14:15] {Threei}  no go
[14:16] {_pragmatic} I asked for the good ones
[14:16] {_pragmatic} :`)
[14:16] {Threei}  bt then you left
[14:16] {Threei}  and we had 5 good ones
[14:17] {dino} out thrx .12, +.30 all dayer
[14:17] {Threei}  (GR) EU officials denying press speculation of an imminent private sector deal on another Greece aid package
[14:18] {Threei}  crap
[14:18] {dino} drop
[14:18] {Threei}  these news-caused spikes
[14:18] {Threei}  look at CAT
[14:18] {dino} they need to all shut the hell up
[14:25] {_taxx31} SLB from 84.60s to 84.00 .... 1:6 ...short ..haha vad told you man
[14:25] {_taxx31} didnt play it tho
[14:25] {_taxx31} :)
[14:29] {davd} spy at vwap
[14:32] {patience} .
[14:32] {dino} enmd
[14:33] {RonS} EntreMed ENMD-2076 Phase 2 Data to Be Presented at ASCO Annual Meeting
[14:35] {dino} ty
[14:35] {RonS} ovarian cancer drug...
[14:42] {Threei}  up or down?
[14:43] {Threei}  if up,
[14:43] {Threei} Long Setup:  SLW  .50 break
[14:43] {Threei}  and
[14:43] {Threei} Long Setup:  LVS  .40 break
[14:44] {rizvisy1} slw
[14:54] {rizvisy1} in LVS .40
[14:56] {rizvisy1} huh kicks at bottom..
[14:57] {RonS} dino tyc
[14:57] {Threei}  Groupon files $750M IPO- Expect to apply under the symbol "GRPN"
06[15:01] * Threei kicks LVS in the rear
[15:01] {Threei}  1:1
[15:01] {rizvisy1} badly required ..
[15:01] {Threei}  violence works
[15:01] {Threei}  as always
06[15:01] * Threei kicks LVS in the rear with heavy duty steel toe army boots
06[15:02] * Threei slaps _pragmatic around a bit with a fufilled request for a good trade
[15:04] {dino}  tyc moodys up
[15:07] {_pragmatic} need to take a shower. smell like a fish
[15:07] {Threei}  sorry... that's unavoidable side effect of being slapped with one
[15:10] {Threei} Short Setup: SLW  .35 break
[15:11] {Threei}  what an unpleasant symbol: RDNT
[15:12] {nemo} leave the bunny alone
[15:14] {Threei}  maybe le's modify it
[15:15] {Threei}  .40 break
[15:15] {Threei}  stop above .50
[15:15] {Threei}  semi-agressive
[15:15] {nemo} for what, slw?
[15:15] {nemo} riding vwap
[15:15] {Threei}  wat else... we don't tarde your rabbit, per your demand
[15:16] {nemo} oh...she's so cute
[15:16] {nemo} she's worth more than $5, eve if you were going to eat her
[15:18] {dino} lol
[15:19] {jfjf64} lets  go  baby
[15:19] {Threei}  this one is not a scalp
[15:19] {jfjf64} dieeeeeeeeeeeeee
[15:19] {nemo} well I'm off c u 2morow
[15:19] {jfjf64} jf  in  da  house
[15:20] {Threei}  take care nemo
[15:20] {jfjf64} later  nemo
[15:21] {Threei}  dies SLW
[15:22] {Threei}  potential for about 30 cents move with any market help, possibly more
[15:22] {jfjf64} tight  stp
[15:22] {jfjf64} nice
[15:23] {Threei}  violence time?
06[15:23] * Threei hits SWL over the head with 2x4
[15:23] {jfjf64} structure
[15:23] {jfjf64} lol
[15:23] {_taxx31} shorted SLB 1k @ $84.64
[15:23] {jfjf64} violence
[15:23] {_taxx31} covered SLB 1k @ $84.48
[15:23] {jfjf64} ??
[15:23] {gregns} at least get the symbol right, vad
[15:23] {jfjf64} slb
[15:23] {Threei}  ohhh... that's why it doesn't work!
06[15:24] * Threei hits SLW over the head with 2x4
[15:24] {rizvisy1} _taxx31 gj
[15:24] {gregns} exxxxacccctlly
[15:25] {_pragmatic} ?
[15:25] {jfjf64} slw  tight  range   need  more  then  2x4
[15:25] {jfjf64}  2     2x4
06[15:25] * Threei hits SLW over the head with 2x4 equipped with rusty nails
[15:25] {jfjf64} yes
[15:26] {jfjf64} dog  withh  fleas
[15:26] {jfjf64} dieee
06[15:26] * Threei hits SLW over the head with 2x4 equipped with rusty nails and reinforced with rebars
[15:26] {jfjf64} yes
[15:26] {jfjf64} method  to  our  madness
[15:27] {Threei}  always
[15:27] {Threei}  I despise madness with no method
[15:27] {jfjf64} nice
[15:27] {jfjf64} slw  hears  ya
[15:27] {Threei}  let's tighten stop to .46
[15:28] {Threei}  market is too sensitive today
[15:28] {Threei}  want to stay on safe side
[15:28] {_taxx31} look at that level 2
[15:28] {_taxx31} im on the SLW trade with you boys now
[15:29] {Threei}  what about its level 2?
[15:29] {jfjf64} nice  colors
[15:29] {_taxx31} its fierce
[15:29] {Threei}  loljf
[15:29] {Threei}  our own Las Vegas
[15:29] {_taxx31} ppl are fighting it out
[15:30] {Threei}  I am a sucker for flashing lights
[15:30] {jfjf64} yup
[15:30] {jfjf64} and  blonds
[15:30] {jfjf64} with  big   feet
[15:30] {Threei}  I don't discriminate that severely
[15:30] {Threei}  brunettes and reds have full rights ti exists
[15:30] {jfjf64} small feet
[15:30] {jfjf64} ahh
[15:31] {jfjf64} agree
[15:31] {RonS} lol
[15:31] {jfjf64} welcome  rs
[15:33] {jfjf64} little  sprigsteen playin
[15:33] {jfjf64} down    down   down
[15:34] {dino} cool
[15:36] {jfjf64} 3:36   slw  makin  us  work  OT
[15:36] {Threei}  no kidding
[15:36] {Threei}  almost like work
[15:37] {jfjf64} the  best  jobb EVER
[15:37] {gregns} ok here we go
[15:37] {gregns} !!!!
[15:37] {jfjf64} $$$$$$$$$$$
[15:38] {_taxx31} SLW
[15:38] {jfjf64} big  orders  cominggg  in    green
[15:38] {jfjf64} not moving
[15:39] {_taxx31} too much support
06[15:39] * Threei shows SLW a picture of Greece leavng EU
[15:39] {_taxx31} vad
[15:40] {_taxx31} is that groupon ipo real ?
[15:40] {_taxx31} thats gonna be a killing
[15:40] {gregns} Vad, what indicates to you that if SLW works that it should go down quite a bit, just no support to about .13 ? and if market drops it will take it with it
[15:40] {Threei}  of course it's real... wta do you think, I am writing news myself?
[15:40] {_taxx31} cant believe my eyes :D
[15:41] {Threei}  greg, just by chart, nothing but air ti;; 35
[15:41] {Threei}  also,
[15:41] {Threei}  if selling hits closer to eod, there should be considerable amount of it
[15:41] {gregns} ok,, thks
[15:42] {jfjf64} violence
[15:44] {jfjf64} long wickss  spy
[15:44] {jfjf64} today
[15:44] {Threei}  {SPY} hey, leave my private qualities private
[15:44] {_taxx31} thanks vad
[15:44] {_taxx31} cyz tmrw
[15:44] {Threei}  take care taxxxxx
[15:44] {jfjf64} later  tax
[15:45] {jfjf64} comonnn
[15:46] {Threei}  fiiiinallly
[15:47] {Threei}  sure took its sweet time
[15:47] {Threei}  half out, stop .41
[15:47] {jfjf64} ii
[15:47] {Threei}  13 minutes left
[15:47] {Threei}  a lot can happen
[15:47] {jfjf64} we  inn good  spot
06[15:48] * Threei slaps _pragmatic around a bit with a second fufilled request for a good trade
[15:48] {Threei}  that was a right idea to switch to aggressive entry
[15:48] {Threei}  gave us enough room
[15:48] {jfjf64} get  outtt 2x4
[15:49] {Threei}  I am electrocharging it
[15:49] {jfjf64} that   new
[15:49] {jfjf64} 3:49
[15:50] {Threei}  half charged
[15:50] {jfjf64} stop
[15:50] {jfjf64} ??
[15:51] {jfjf64} .35
[15:51] {Threei}  nah, still .41
[15:51] {Threei}  9 min
[15:51] {Threei}  3/4 charged
[15:51] {jfjf64} followw  spy
[15:51] {jfjf64}   slw
06[15:52] * Threei pokes SLW in the ribs with electrocharged 2x4
[15:52] {jfjf64} yeahhhhhhhhh
[15:53] {jfjf64} one  moree  legg down
[15:53] {jfjf64} 35.00
[15:55] {Threei}  5 min
[15:55] {jfjf64} 5  min
[15:55] {jfjf64} lol
[15:55] {Threei}  clear
06[15:55] * Threei pokes SLW in the ribs with electrocharged 2x4 second time
[15:55] {jfjf64} zzzzzzzzzzzzzz
[15:56] {jfjf64} out
[15:56] {Threei}  4 min
[15:56] {jfjf64} that  was   great
[15:56] {jfjf64} ty
[15:56] {Threei}  adrenalin rush?
[15:56] {Threei}  :)
[15:56] {jfjf64} see  all   tommorrow
[15:57] {Threei}  take care jf
[15:57] {Threei}  3 min
[15:58] {_pragmatic} should drop below .20. feel it
[15:58] {Threei}  ved by the bell
[15:58] {Threei}  unless saveby the bell
[15:59] {Threei}  2 min
[15:59] {Threei}  1
[15:59] {Threei}  ok... closing
[15:59] {_pragmatic} oh my, what a battle on L2
[15:59] {Threei}  nice way to finish the day
[15:59] {Threei}  thank you all, have a good evening
[15:59] {Threei}  see you tomorrow
[15:59] {gregns} ty
[16:01] {dino} gn all