Friday, July 22, 2011

Jul 22 2011

Another nicely profitable day with one stop or 4 or 5 winning trades. As for afternoon boredom, I'll stop making this comment - just consider it default condition into August, most likely till after the Labor Day.

Session Time: Fri Jul 22 00:00:00 2011
[09:11] {Threei}  I strongly, and with regret, suspect it's time to wake up
[09:16] {Threei}  glad you disagree... back to sleep
[09:18] {_bobbyo} gm
[09:18] {Threei}  bobbyo :)
[09:21] {ese} morning
[09:21] {Threei}  ese :)
[09:22] {RonS} g'day everyone
[09:22] {larisa} gm :)
[09:22] {Threei}  ron, larisa :)_
[09:23] {Threei}  (US) Senior White House Aide: President Obama has been unable to satisfy senior Democrats demands for certain provisions of the debt deal at meeting last night - financial press
[09:23] {Threei}  - According to report, Democratic leaders were concerned about the lack of guaranteed new revenue generating measures in the potential deal.
[09:23] {Threei}  long for "no new taxes"
[09:30] {Threei} Short Setup: SLW  .75 break
[09:31] {Threei}  if stays under .85
[09:35] {Threei}  1:1
[09:35] {Threei} Short Setup: RIMM  .70 break
[09:37] {ese} L REE .97
[09:37] {Threei}  (NO) Reports of an explosion in Oslo, Norway
[09:39] {Threei}  RIMM stop to .76
[09:39] {ese} daaaa stopped .77 -.20 1/2
[09:39] {Threei}  1:1
[09:40] {jfjf64} die
[09:40] {jfjf64} oh  yea
[09:40] {jfjf64} gm
[09:40] {Threei}  lol
[09:41] {Threei}  that's true trader - death to a stock he shorted first, good morning to comrads second
[09:42] {Threei} Short Setup: SLW  .90 break
[09:43] {Threei}  unobtainable...
[09:43] {Threei}  maybe second cance
[09:44] {Threei}  in
[09:46] {Threei}  so far so good, double top is shaping up
[09:47] {RonS} sm l hgsi .12
[09:48] {Threei} Short Setup: FCX  .05 break
[09:48] {patience} good morning
[09:50] {Threei}  FCX stop above .15
[09:50] {Threei}  morning patience
[09:51] {Threei}  no go SLW
[09:53] {Threei}  anuone held RIMM for more than scalp?
[09:53] {Threei}  FCX 1:1
[09:54] {ese} L CSTR .00
[09:54] {ese} sorry .02
[09:54] {ese} dino sm
[09:56] {Threei}  just looked at HGSI... nice one Ron
[09:58] {ese} out cstr .71
[09:58] {ese} +.69
[09:59] {Threei}  wtg
[10:01] {Threei} Short Setup: RIMM  .40 break
[10:02] {Threei}  invalidated, looking for aggressive entry
[10:02] {ese} tks
[10:03] {ese} carrying on the dino thing while he's not here
[10:04] {Threei} Short Setup: RIMM  .45 break
[10:04] {Threei}  if stays under .55
[10:08] {Threei}  our yesterday's darling SCLN tries to break yest high
[10:09] {Threei}  ok RIMM
[10:09] {Threei}  lose .40 and die
[10:09] {Threei}  good boy
[10:10] {Threei}  let's trail stop to .51
[10:11] {Threei}  in retrospect, break of .50 was the best play
[10:11] {Threei}  but market was trying to rally at the moment
[10:15] {Threei}  1:1
[10:15] {Threei}  tha's 4 for 5 today
[10:15] {Threei}  not too shabby for a summer Fri...
[10:15] {Threei}  can I go home?
[10:15] {jfjf64} whos  counting
[10:15] {jfjf64} lol
[10:16] {Threei}  lol
[10:17] {Threei}  next leg is coming
[10:20] {Threei}  By authorising a huge expansion in the bail-out fund that is propping up the EUs peripheral members (largely in order to stop the contagion spreading to Italy and Spain), the eurozone has taken the decisive step to becoming a fiscal union.
[10:20] {nemo} Vereinigung ueber Alles
[10:20] {Threei}  So long as the settlement is accepted by national parliaments, yesterday will come to be seen as the witching hour after which Europe will cease to be, except vestigially, a collection of nation states. It will have one economic government, one currency, one foreign policy
[10:21] {nemo} all run by the Germans, scary'
[10:21] {Threei}  yeah
[10:22] {Threei}  to the great detriment of southern states
[10:24] {Threei}  1:2
[10:29] {Threei}  (GR) Fitch: EFSF's AAA rating unlikely to be impacted by the additional flexibility in its operations. Greece may only be categorized as a restrictive default in the short term
[10:29] {Threei}  (US) Senate reaches enough votes to vote down the House republican debt plan; as expected
[10:33] {Threei}  anyone is holding last portion of RIMM still?
[10:34] {Threei}  why am I talking to myself... see you Monday
[10:36] {nemo} least you have someone with whom to have an intelligent conversation
[10:36] {Threei}  korreqt
[10:36] {nemo} Sieg Heil
[10:37] {Threei}  RIMM 1:3, over and out
[10:37] {Threei}  can't believe it's this easy on a summer Friday
[10:37] {Threei}  and no one is even talking to me
[10:37] {Threei}  except nemo which only makes it worse {G}
[10:37] {jfjf64} nice
[10:37] {jfjf64} job
[10:38] {Threei}  too
[10:38] {Threei}  late
[10:51] {Threei}  Most Voters Fear Debt Deal Will Raise Taxes Too Much, Cut Spending Too Little
[10:51] {_bobbyo} lvs ,50 break?
[10:52] {_bobbyo} lvs .50 break?
[10:52] {Threei}  lkooks right to me
[10:52] {_bobbyo} sorry double post I am not that excited
[10:53] {Threei}  lol
[10:55] {Threei}  just don't count on much, probably scalp only
[11:00] {Threei}  1:1
[11:00] {Threei}  nice find bobbyo
[11:02] {_bobbyo} ty out
[11:07] {RonS} ezpw sm l .10
[11:09] {_bobbyo} s slw .25 break
[11:11] {ese} L HON .39
[11:11] {ese} 2 lots
[11:11] {ese} out 1/2 .50 +.11
[11:12] {ese} stop to .40 balance
[11:13] {_bobbyo} out slw do you say scalpers win?::)
[11:14] {ese} always
[11:16] {ese} out .63 500shs +.24
[11:16] {ese} 500 to go
[11:16] {Threei}  hehe
[11:16] {Threei}  they often do
[11:16] {ese} chip off the ole vad baock here
[11:16] {ese} block
[11:18] {ese} balance stop still at .40....gonna let it ride
[11:26] {ese} vad question........would you let HON ride till the end of the day or trail a stop?
[11:27] {Threei}  why is it mutually exclusive?
[11:27] {ese} ummmmmmm? ya got me there
[11:28] {ese} which in your vast experience has produced better results
[11:28] {Threei}  if you asked "take profit or let it ride"
[11:28] {Threei}  or
[11:29] {Threei}  "take profit or trail stop"
[11:29] {Threei}  question would have merit
[11:29] {nemo} cat
[11:29] {nemo} mcp
[11:29] {ese} hmmmmmmmm
[11:29] {Threei}  "let it ride or trail stop" - not so much, both are done in the same trade
[11:29] {Threei}  see what I mean?
[11:29] {ese} ya
[11:35] {Threei}  (US) President Obama: Spoke to White House laywers about using powers under the 14th Amendment to ignore the debt ceiling, conclusion is that this route is not viable
[11:35] {Threei}  - Warned that any failure to raise the debt limit could cause a new recession
[11:36] {Threei}  new?
[11:36] {Threei}  meaning old one is over?
[11:38] {_bobbyo} rimm .50 break?
[11:39] {Threei}  no
[11:39] {Threei}  let it pull back, look for aggressive entry near support
[11:39] {Threei}  closer to .40
[11:39] {_bobbyo} ty
[11:40] {Threei}  break on the go with no consolidation is not my forte
[11:40] {_bobbyo} bars of consolidation needed?
[11:41] {jfjf64} mhs
[11:43] {Threei}  no hard fast rule
[11:43] {Threei}  depends on too many variables
[11:43] {Threei}  but there should be something visually identifiable as consolidation
[11:43] {Threei}  you previous one had it
[11:44] {Threei}  this one simply came from .40 to .50 in three bars and immediately broke it
[11:44] {Threei}  when the resistance hasn't had time to establish itself,
[11:44] {Threei}  sucker in shorts, shake out longs,
[11:44] {Threei}  thus collecting future buyers that will enter on resiatance break fuelling the move
[11:44] {Threei}  it's not a valid setup
[11:46] {Threei}  do I make sense?
[11:46] {_bobbyo} I was thinking more of a cup pattern on this set up, but yes no handle. need to wait for the handle.
[11:46] {Threei}  right,
[11:46] {Threei}  and even if you think of C&H where cup was started at about 10:00
[11:47] {Threei}  and this one is the end of handle
[11:47] {Threei}  then the setup is not very, umm
[11:47] {Threei}  noble china
[11:47] {Threei}  since cup and handle are almost the same lenght
[11:48] {_bobbyo} ok didn'know that about the handle
[11:49] {Threei}  what to know... look at any cup :)
[11:49] {Threei}  as a rule, handles are smaller than cups, right?
[11:49] {Threei}  I mean real ones, not charts
[11:49] {_bobbyo} yes
[11:50] {Threei}  chart wise,, the length's significance is:
[11:50] {Threei}  pullback is being picked up by buyers eager for a break, thus handle has
[11:51] {Threei}  a) less depth than cup since buyers hit it earlier on pullback
[11:51] {Threei}  and
[11:51] {Threei}  b) less lenght since buyers hit it quickly using that pullback, faster returning price to the break level
[11:51] {Threei}  if thos factors are not there then buyers are not that eager
[11:52] {Threei}  it's just common sense of players' psychology as charts reflect it
[11:52] {Threei}  nothing of that fancy indicators stuff
[11:55] {_bobbyo} i understand thank you. When you have legitimate ch do you have measured move target from depth of the cup.
[11:56] {Threei}  sorry, niot sure I underatand
[11:56] {_bobbyo} Oh did you mean enough of that indicator bs?
[11:56] {ese} HON to .75
[11:57] {Threei}  see how RIMM would have stopped you
[11:57] {_bobbyo} nice ese,
[11:57] {_bobbyo} yes
[12:04] {ese} stopped HON .76
[12:05] {ese} damnn  one little stinky no good fur nuttin print triggered it
[12:05] {ese} +.37
[12:06] {_bobbyo} Since the cabinets you must be a construction expert.:)
[12:06] {ese} ya right.....and look at it.......
[12:06] {ese} ah welll.......time to start drinkin
[12:07] {Threei}  I don't know why you ever stop
[12:07] {ese} lol
[12:07] {Threei}  only to start again in a few hours?
[12:07] {ese} ya....good question
[12:07] {Threei}  makes no sense to me
[12:11] {ese} tks bob......missed your clmpliment
[12:13] {ese} no construction expert here buddy.......hate doin the stuff....expecially since i've had to wear tuxes to do the work in.......trying to keep up to vads classy standards
[12:13] {RonS} bobby bobby bobby e yo....
[12:13] {Threei}  to give you ah idea of what kind of crises are happening in this neck of the woods, requiring serious attention, crisis management etc:
[12:13] {ese} lol
[12:13] {Threei}  Victoria to ban sale of non-neutered rabbits
[12:14] {RonS} lol...who checks?
[12:14] {ese} rotflol......damn thats funny
[12:14] {jfjf64} lol
[12:14] {RonS} out ezpw .34  +.22
[12:14] {Threei}  there will be public heari ng of the bylaw
[12:14] {ese} rono   well done
[12:15] {ese} thas too funny vad
[12:15] {Threei}  funny place we live in ese :)
[12:15] {ese} is that just in Saanich or Vcitoria as well
[12:15] {Threei}  Saanich and Oak bay already have such bylaw in place
[12:15] {_bobbyo} Ron just call me BO, poor canadian rabbits how are they going to stay warm in the winter
[12:15] {Threei}  Victoria is catching up
[12:15] {ese}'s like people have no clue here
[12:16] {ese} in canada
[12:16] {ese} get your rabbits neutered will ya
[12:16] {ese} be ahead of the curve
[12:17] {Threei}  {_bobbyo} poor canadian rabbits how are they going to stay warm in the winter {---- my guess is, they'll drink
[12:17] {_bobbyo} No arizona our rabbits are fully equipped
[12:17] {Threei}  drown their sorror in alcohol
[12:18] {Threei}  sorrow
[12:18] {ese} lol
[12:18] {ese} rrr's
[12:18] {ese} ?
[12:18] {ese} Road Runner Rabbits?
[12:19] {ese} stars of the Bugs Bunny Show?
[12:20] {RonS} u guys get the tv show "pawn stars"?
[12:20] {RonS} luv the catchphrase:  you never know what is going to walk through that door
[12:21] {RonS} guy comes to sell his 1934 Lincoln town car
[12:22] {ese} nope.....haven't seen that show
[12:24] {RonS} wants $100k...pawn guy will pay 95k
[12:24] {RonS} syas there anything you want besides money
[12:24] {RonS} guy says i will take gold...
[12:24] {RonS} somehow illegal to pay gold so hands guy 95k cash
[12:24] {RonS} guys turns around and pays the 95k cash for 95k gold
[12:24] {RonS} the store is the only independent pawn shop in Vegas
[12:25] {RonS} ezpw...pawn chain
[12:27] {RonS} 3i, ovti on .30 break or aggressive here if holds .20?
[12:28] {Threei}  hmmm
[12:29] {Threei}  not really sure
[12:29] {RonS} volume and time of day is sketchy...
[12:30] {Threei}  yeah, and a bit on a thin side
[12:30] {Threei}  recipe for a stop
[12:36] {ese} thats bizzare ron
[12:38] {RonS} bazaar ese
[12:45] {RonS} moh...down 9% and they beat...
[12:45] {RonS} 9.5
[12:47] {ese} no...beezare.......thats the correct spelling for this board
[12:49] {RonS} moh sm l .30
[13:14] {nemo} mmmhhhh....feeling a bit warm
[13:14] {nemo} so...what's all this bunny talk
[13:15] {RonS} hope ya did'nt have an accident
[13:15] {nemo} ?
[13:15] {RonS} depends failure?
[13:15] {nemo} no, I exercised out in the noon sun.  It's only 102
[13:15] {Threei}
[13:15] {nemo} better not show that to bunny
[13:15] {_bobbyo} Are the bunnies making you hot?
[13:16] {nemo} no, the heat is
[13:16] {RonS} lol
[13:16] {nemo} show them the picture Vad
[13:18] {ese} cabinets call everyone.......have a great weekend     see ya monday
[13:18] {Threei}  take care ese, have a good one
[13:20] {_bobbyo} slw long .45 ?
[13:22] {Threei}  I doubt it
[13:23] {RonS} ramped moh to full position size, but half out .49 + .19
[13:23] {RonS} stop b/e  .30
[13:25] {RonS} stop now .45
[13:26] {RonS} .50
[13:29] {RonS} moh 1/4 out .84  +.54
[13:30] {RonS} stop .60
[13:38] {RonS} stop .65
[13:40] {_bobbyo} nice trade
[13:46] {RonS} stop .70
[13:49] {RonS} out .74  +.44
[13:49] {Threei}  nice
[13:52] {RonS} ty
[14:34] {_bobbyo} did they close the exchange? no movement
[14:36] {_bobbyo} short crox .45
[14:36] {Threei}  well... do you expecy much activity on summer Friday afernoon? :)
[14:37] {_bobbyo} I'm hibernating
[14:42] {RonS} moh is one sick mexican...or spaniard...
[14:43] {Threei}  2012 Presidential Election Match-up: Barack Obama 42%, Mitt Romney 43%, Ron Paul 37%
[14:52] {Threei}  I am about to break the desk with my forehead
[14:54] {_bobbyo} 3 cent bars on the spy wow
[14:57] {RonS} ...practicing karate, eh 3i?
[14:57] {Threei}  not really
[14:57] {Threei}  just can't keep my head up
[14:58] {RonS} ...daughter's 1 month old has same problem...
[15:19] {Threei}  I have an idea
[15:20] {Threei}  we had a great day concluding fairly good week, especially considering these summer doldrums
[15:20] {Threei}  how about we have a great relaxing wekend?
[15:20] {Threei}  I am very ready for one
[15:21] {Threei}  before anyone objects, I'll see you guys on Monday
[15:22] {_bobbyo} bye vad thanks
[15:22] {Threei}  very welcome