Wednesday, August 31, 2011

Aug 31 2011

Very nice first half of the day, boring second with a few small stops. All in all, fair profitable day.


Session Close: Wed Aug 31 06:24:04 2011

[09:17] {Threei}  yawn
[09:20] {Threei}  nemo, guess what our first play yesterday was
[09:20] {nemo} slw
[09:20] {Threei}  yes, but...
[09:21] {Threei}  LONG!
[09:21] {nemo} good thing I'm sitting down
[09:21] {Threei}  hehe
[09:21] {larisa} gm :)
[09:21] {Threei}  larisa :)
[09:22] {Threei}  09:39] {RonS} slw .38 to .58 thanks 3i
[09:22] {Threei}  09:43] {Threei} btw Ron... when nemo is back, don't forget to inform him that our first play for long SLW, yes LONG,
[09:27] {Threei}  so far, no clear opening trade
[09:27] {RonS} gm...nemo did you lose power?
[09:27] {Threei}  eron :)
[09:27] {Threei}  -e
[09:27] {nemo} yep
[09:27] {nemo} had to drink for 3 days straight
[09:28] {Threei}  dino is still mia
[09:28] {nemo} he's in a rough area for flooding
[09:30] {Threei}  RIMM
[09:30] {Threei} Short Setup: RIMM  33 break
[09:31] {Threei}  in on bounce
[09:31] {Threei}  stop above .10
[09:31] {Threei}  SLW was short...
[09:32] {Threei}  RIMM 1:1
[09:32] {Threei}  half out
[09:32] {Threei}  stop to .05
[09:32] {Threei}  scalpers know what to do
[09:33] {Threei}  numbers at 9:45 and 10
[09:33] {Threei}  1:2
[09:33] {Threei}  1/4 more out
[09:33] {Threei}  stop to .96
[09:33] {Threei}  1:3
[09:33] {Threei}  out
[09:34] {Threei}  awww... 1:4
[09:35] {Threei}  and when I say aww, I mean it as never before
[09:36] {ese} gm
[09:36] {Threei}  ese :)
[09:36] {Threei}  missed beautiful RIMM short...
[09:36] {Threei}  man, gotta wake up 5 min earlier
[09:37] {Threei}  SLW spread and jumpiness is still abnormal
[09:37] {nemo} or, it's the new normal
[09:37] {ese} me.......was out biking...just got back
[09:38] {ese} sweating all over my keyboard
[09:38] {Threei}  well, gotta return from bike ride 5 min earlier :)
[09:39] {Threei}  not really nemo, it just for some reasion continues trading with too big opening spread for a few minutes longer lately
[09:41] {Threei} Long Setup:  FCX  .50 break
[09:41] {Threei}  ugh, late alert
[09:41] {Threei}  ok, here again
[09:41] {Threei}  stop under .40
[09:41] {Threei}  1:1
[09:42] {nemo} too slow
[09:42] {nemo} me that is
[09:42] {Threei}  was obtainable on return to .51...
[09:42] {nemo} oh yeah, was just bringing up the chart
[09:42] {Threei}  market reacts on preliminary release of chicago PMI
[09:42] {nemo} yeah
[09:42] {Threei}  we will learn them in 3 min
[09:43] {Threei}  and they'll be positive
[09:43] {nemo} subscribers already did
[09:43] {Threei}  right
[09:43] {Threei}  1:2 FCX
[09:44] {Threei}  wow
[09:44] {Threei}  Obama: Strongly Approve: 19%.. Strongly Disapprove 44%... Approval Index: -25
[09:44] {Threei}  this is new all time low
[09:44] {Threei}  1:3, out in full
[09:45] {Threei}  *(US) AUG CHICAGO PURCHASING MANAGER INDEX: 56.5 V 53.3E
[09:45] {Threei}  here we go
[09:46] {Threei}  (IT) Italy Debt Agency sees 2011 gross debt issuance around 430B
[09:46] {Threei}  right... dig yourself a deeper hole
[09:48] {Threei} Short Setup: SLW  .90 break
[09:49] {Threei}  if stays under 40 of curse
[09:50] {Threei}  back to our usual programming, lol
[09:50] {Threei}  1:1
[09:52] {RonS} slw .915 to .75  thanks 3i
[09:52] {Threei}  1:2
[09:52] {Threei}  :)
[09:52] {Threei}  that's 3:3 - quite unusual for a gap up day
[09:52] {Threei}  we rarely do this well on those
[09:53] {Threei}  wow FCX
[09:53] {Threei}  though of looking for short entry on it, decided against it and went with SLW instead
[09:53] {Threei}  was it god decision or what
[09:54] {Threei}  good
[09:54] {Threei}  but it starts looking like entry is coming
[09:54] {Threei}  blow off top
[09:55] {Threei}  grrr
[09:55] {Threei}  that was it, but no clear entry
[09:55] {Threei}  would have been pure gut play
[09:57] {Threei}  jonny... missed 3 winnng plays
[09:58] {_jonnyquesada} I see now...SLW FCE and?
[09:58] {_jonnyquesada} great
[09:58] {_jonnyquesada} too late
[09:58] {Threei}  and RIMM
[09:58] {_jonnyquesada} congrats...
[09:59] {Threei} Short Setup: RIMM  .80 break
[10:00] {Threei}  imvalidated
[10:00] {Threei}  numbers came in psitive on factory orders
[10:00] {RonS} Openwave: Research In Motion's BlackBerry Curve 9330, PlayBook Tablet Infringe Patents       08/31 07:52 AM
[10:00] {Threei}  2.4 vs 2
[10:00] {RonS} Openwave sues Apple, RIM on intellectual property       08/31 07:57 AM
[10:01] {Threei}  lol
[10:01] {Threei}  some make their money by suing others
[10:01] {Threei}  RIMM valid agan
[10:02] {Threei}  same setup
[10:03] {Threei}  aggressive entry was the best... in retrospect
[10:03] {Threei}  thought of it but didn't have time to type, it dropped fast
[10:03] {Threei}  anyway, .93 stop
[10:04] {Threei}  target about .55
[10:06] {nemo} rimm looking like bull flag now
[10:06] {Threei}  SPY so far looks toppy and reversish
[10:06] {Threei}  nope
[10:06] {Threei}  it's establishing downtrend from 33 top
[10:06] {Threei}  if loses .75 it's all over
[10:07] {Threei}  let's trail to .91
[10:08] {Threei}  more of a formal trail but still, let's play it by the book
[10:08] {nemo} .68 vwap
[10:08] {Threei}  come on SPY, lose 123
[10:09] {pragmatic} :)
[10:10] {Threei}  long indecisive pause
[10:10] {RonS} dang it we need jf...
[10:11] {Threei}  no kidding
[10:11] {Threei}  where are those chants
[10:12] {patience} good morning
[10:12] {Threei}  morning patience... another late sleeper missing all good plays
[10:13] {patience} shock at how much money spent yesterday on university books and multiple tablets
[10:14] {Threei}  multiple tablets?
[10:14] {Threei}  how many tablets does one need
[10:14] {pragmatic} ipad2
[10:14] {Threei}  ewww
[10:14] {patience} i had to get one, even my mother just got an ipad
[10:15] {Threei}  repeat after me: an-dro-id
[10:15] {patience} just so she can facebook
[10:15] {pragmatic} boooo
[10:15] {Threei}  "had to get a tablet..."
[10:15] {Threei}  picture me crying
[10:16] {pragmatic} HP sells them cheap now...
[10:16] {Threei}  nah
[10:16] {Threei}  dead end
[10:16] {pragmatic} right
[10:17] {Threei}  HP clears inventory, out of hardware business
[10:17] {Threei}  RIMM stop to .86
[10:17] {Threei}  out
[10:17] {RonS} out rimm -.03
[10:18] {RonS} if this rinses gonna be p.o.'d
[10:18] {Threei}  well, it has lost a structure of the setup
[10:18] {RonS} ...and blame it on jf...
[10:18] {Threei}  good idea
[10:21] {Threei} Short Setup: FCX  .50 break
[10:22] {Threei}  if stays under .60 of course
[10:25] {nemo} T
[10:25] {nemo} wtf
[10:25] {nemo} fcx
[10:26] {Threei}  ?
[10:26] {nemo} no t
[10:26] {nemo} sorry
[10:26] {nemo} AT&T=T
[10:26] {RonS} Sprint Nextel $S is moving higher as U.S. filed antitrust complaint against AT&T $T to block T-Mobile USA deal
[10:26] {Threei}  you sure you got power back? :)
[10:29] {Threei}  1:1
[10:30] {Threei}  *DOE CRUDE: +5.28M V 0E
[10:30] {Threei}  GASOLINE: -2.8M V -1ME; DISTILLATE: +360K V +1ME
[10:30] {Threei}  1:2
[10:30] {Threei}  that's 4 for 5, with one 7 cents stop
[10:30] {Threei}  can I go home
[10:30] {Threei}  ?
[10:32] {pragmatic} I am afraid, we won't let you at a moment :)
[10:32] {Threei}  why not
[10:32] {Threei}  I was a good boy
[10:32] {pragmatic} greed! need moreeee
[10:32] {Threei}  ate whole breakfast
[10:33] {RonS} don't look rimm
[10:33] {Threei}  yeah
[10:33] {Threei}  oh well
[10:33] {Threei}  no regret here
[10:33] {Threei}  see, when they lose the setup structure, they fail more often than work
[10:33] {Threei}  I just go with odds
[10:51] {Threei}  guess who is on TV
[10:51] {nemo} Liz Taylor
[10:52] {Threei}  hmm
[10:52] {RonS} sid ceasar?
[10:52] {Threei}  this doesn't even fit in "you wish" category
[10:52] {nemo} saw History of the World Part I last night
[10:52] {nemo} O.K.  Maria Cuccionata
[10:52] {Threei}  30% Favor Federal Government Temporarily Hiring One Million People
[10:53] {Threei}  there... idiots are running at 30% of poluation
[10:53] {RonS} lol ridiculous
[10:53] {nemo} and where do they think they'll get the money to pay them?
[10:53] {Threei}  incredible eh?
[10:53] {nemo} people have no clue
[10:53] {Threei}  do people honestly believe in broken glass theory?
[10:53] {nemo} but then again, 1/2 them have no genetic possibility to think their way out of a paper bag
[10:54] {Threei} Long Setup:  RIMM  .10 break
[10:54] {Threei}  let's do half lot
[10:54] {Threei}  invalidated anyway
[10:54] {nemo} pivot .95
[10:55] {pragmatic} interesting, on my TOS charts I can see SPY spiked to 127.07
[10:56] {pragmatic} wrong bar probably
[11:12] {Threei}  guys, if anyone is still thnking about Whistler conference, I am told discount rates for the Westin hotel run out in Spet 2
[11:21] {Threei}  (GR) Greece Parliamentary budget auditors: Greece's debt dynamics are out of control, debt-to-GDP ratio will not likely stabilize in 2012
[11:21] {Threei}  - The lack of stability in the debt-to-GDP ratio casts doubt on Greece's mid-term stability plan.
[11:21] {Threei}  - Fiscal management has not fixed the nation's finances, the primary deficit is still widening.
[11:22] {RonS} pot gonna do a dino gap fill?
[11:24] {Threei} Short Setup: FCX  .95 break
[11:25] {Threei}  a little bit marginal setup
[11:25] {Threei}  let's do half lot on it
[11:25] {Threei}  stop above .05
[11:26] {Threei}  hesitated about SLW breakdown... slight regret now
[11:26] {Threei}  plan for FCX, if this one works:
[11:26] {Threei}  there is nothing but air up to .60
[11:27] {Threei}  so, let's maybe try and milk it
[11:27] {Threei}  just half lot, nothing too risky
[11:27] {Threei}  let's aim to cover in two parts, one at about .80, another around .60
[11:27] {Threei}  will correct the course if/when we get there
[11:29] {Threei}  held by fingertips
[11:29] {Threei}  no go
[11:37] {Threei}  where is dino... this is time of the day when he usually finds something
[11:37] {Threei}  while I run empty
[11:38] {RonS} he must be dealing w/ a mess...if it was just power i think he could find some
[11:38] {Threei}  probably....
[12:07] {Threei} Short Setup: X  .40 break
[12:07] {Threei}  a bit hesitatnt
[12:07] {Threei}  chart is right, time of the day is wrong
[12:07] {Threei}  but chart is very right
[12:08] {nemo} support yesterday at .35
[12:11] {Threei}  (US) President Obama requests joint session of Congress for Sept 7 to announce jobs plan; speech scheduled for 20:00ET
[12:11] {Threei}  - Obama says he will announce bipartisan job creation ideas that Congress can act on immediately. Again urges Congress to set aside politics and work on the jobs issue.
[12:12] {Threei}  oh boy
[12:12] {Threei}  read this
[12:12] {Threei}  (FR) France President Sarkozy: Widespread austerity plans could interrupt the global economic recovery; emerging economies are playing a key role in keeping the recovery on track
[12:12] {Threei}  - Global growth must be rebalanced, G20 needs to agree on a plan to boost global growth.
[12:12] {Threei}  - Would like to see the IMF SDRs include new currencies, IMF needs more resources to fight systemic crises.
[12:12] {Threei}  - Affirms France and Germany support for financial transactions tax (tobin)
[12:12] {Threei}  they really really don't get it
[12:13] {Threei}  " Widespread austerity plans could interrupt the global economic recovery"
[12:13] {Threei}  do they really think they face a business cycle unwinding?
[12:14] {Threei}  and throwing some more borrowed money at it can help even out the bottom line at the adverse part of the cycle?
[12:14] {Threei}  hard to believe this stupidity on bioth sides of the pond
[12:14] {Threei}  X invalidated
[12:17] {Threei}  if this jobs plan we are about to hear is the same "let's borrow more money and finance work projects," I am going to cry
[12:17] {Threei}  or laugh
[12:17] {Threei}  or both
[12:30] {Threei}  for those who are interested to learn why this is not a normal business cycle, what credit cycle is and why throwing borrowed money at this doesn't work this time, here is a good read
[12:30] {Threei}  http://www.financialsense.com/contributors/brian-pretti/2011/08/30/its-a-long-hard-road-ahead
[12:52] {Threei} Long Setup:  SLW  .05
[12:52] {Threei}  if stays above .95
[12:53] {Threei}  invaldiated
[12:53] {Threei}  wow... did I butcher that word or what
[13:04] {Threei}  everyone's asleep?
[13:04] {patience} nope
[13:07] {Threei}  I have a feeling today's close will be eventful
[13:07] {Threei}  would venture to predict the direction with any kind of certainty, but if I had to guess, gun to head - it would be down
[13:08] {Threei}  first would = wouldn't
[13:08] {Threei}  larisa, nemo... up to bet?
[13:08] {Threei}  my word is, we close abot flat or slightly in red
[13:09] {Threei}  beer against larisa's carrot juice, nemo's red wine
[13:09] {larisa} no, +100+
[13:09] {Threei}  OK, one bet is in
[13:09] {nemo} hard to say, but I'm leaning with window dressing for last day of month and last week of August
[13:10] {nemo} think we close above the open today on spy
[13:10] {nemo} and Dino hasn't sent me your beer yet
[13:10] {nemo} frickin' slacker
[13:11] {nemo} poor Obama
[13:15] {RonS} broke his teleprompter
[13:15] {RonS} ?
[13:15] {nemo} he's so picked on
[13:16] {RonS} so, you ese or the new rev al?
[13:17] {Threei}  so, anyone else wants in on actgion?
[13:18] {Threei}  bets are accepted in a form of scotch, vodka etc
[13:18] {Threei}  good cognac is not going to be sneezed at either
[13:18] {Threei}  be back in 10
[13:18] {RonS} ...thinking the banks carry the market into a strong close
[13:19] {nemo} getting a dt on the iyf at the moment though
[13:19] {nemo} I think Obama is just misunderstood
[13:21] {RonS} means _zeeee was xxxx'd?
06[13:24] * Threei slaps nemo around a bit with a large trout
[13:24] {nemo} why?
[13:25] {Threei}  do I really need a reason?
[13:25] {nemo} no, was just curious as if there might be
[13:26] {Threei}  well, I am very tempted to say:
[13:26] {Threei}  your very existence is a reason good enough
[13:26] {nemo} not wise
[13:26] {Threei}  probably not... but does this satisfy your curiosity?
[13:27] {nemo} not talking to you anymore
[13:27] {Threei}  noooo
[13:27] {Threei}  I can't be this lucky
[13:27] {_zeeee} quick question, just jumped on the mIRC client...how do i setup sound to play when there is a trade alert? thx
[13:27] {RonS} hehehe
[13:28] {Threei}  it's done within a mirc software by setting sound alert on the word "setup"
[13:28] {Threei}  different versions of mirc have it in diff places
[13:28] {Threei}  which one do you use?
[13:28] {_zeeee} v 7.19
[13:29] {Threei}  mine's 6... anyone with lateest ersion could help?
[13:30] {Threei}  nemo could... but he is not talking to me...
[13:35] {Threei}  kill me, can't remember where this is enabled
[13:35] {_zeeee} yea can't seem to find it
[13:35] {Threei}  larisa? any chance you'd remember?
[13:37] {larisa} I do not have latest version :)
[13:37] {Threei}  what about previous? I can't find it even in what I have, lol
[13:37] {Threei}  it could give a clue where it's located
[13:38] {Threei}  there used to be a section called "hihglight"
[13:38] {Threei}  in which you could define an event (cerftain word for instance), and what mirc should do when it appears
[13:38] {Threei}  which included flash, make a sound etc
[13:43] {Threei}  wall sreet journal discovered my hometown
[13:43] {Threei}  http://online.wsj.com/article/SB10001424053111903596904576518531978289852.html?mod=WSJ_LifeStyle_Lifestyle_5
[13:44] {RonS} nice picture of you by that boathouse...
[13:45] {RonS} is nemo the other guy?
[13:46] {Threei}  lol
[13:47] {Threei}  nemo doesn't talk to me still... can I un-slap him somehow?
[13:47] {Threei}  or is it rather slapping from another side to balance it out?
[13:50] {Threei}  watching TZA for entry on pullback
[13:50] {Threei}  something around .75 - .80
[13:55] {Threei}  not much of a pullback eh
[13:56] {RonS} eur losing it...
[13:56] {Threei}  as it well should
[14:00] {RonS} aapl s on 384 break?
[14:01] {Threei}  chart is right but AAPL's volatility is something else
[14:02] {RonS} lol...S&P rates subprime mortgages higher than U.S. government
[14:04] {RonS} sheesh:  FLASH: OBAMA WANTS A JOINT SESSION OF CONGRESS FOR PRIMETIME JOBS SPEECH
[14:04] {RonS} sorry for the caps...
[14:06] {Threei}  didn't I post it before?
[14:06] {Threei}  sure did
[14:06] {Threei}  [12:11] {Threei} (US) President Obama requests joint session of Congress for Sept 7 to announce jobs plan; speech scheduled for 20:00ET
[14:06] {Threei}  welcome to the dave's club, ron
[14:07] {Threei}  AAPL short works nicely
[14:08] {Threei}  moving toward red
[14:08] {Threei}  nasdaq is there already
[14:10] {larisa} 2 hours to go.. what "there" :)
[14:10] {Threei}  in red :)
[14:11] {Threei}  you did AAPL, ron?
[14:11] {RonS} no
[14:13] {Threei} Short Setup: RIMM  .20 break
[14:16] {Threei}  zeee, look private please
[14:24] {_zeeee} 3, are all of your setups long or short invalid with a break of the .10 hold cushion, or only if you specify so?
[14:27] {Threei}  they are invalid when the condition is violated
[14:27] {Threei}  it's not necessary 10 cents
[14:28] {Threei}  usually I indicate it
[14:28] {Threei}  sometimes it's too obvious, and I forget
[14:28] {_zeeee} ok just wanted to clarify that, so in this instance RIMM still potentially valid?
[14:28] {Threei}  nah
[14:28] {Threei}  previous high of the range at the moment of the call was .30
[14:29] {Threei}  so RIMM did invalidate it when went above
[14:29] {_zeeee} ok ty
[14:35] {Threei}  now, if it bounces a bit and stays under .30, or consolidates for a min or two, will reestablish itself
[14:35] {nemo} spy DB?
[14:35] {Threei}  no, IMO
[14:35] {Threei}  breakdown
[14:37] {Threei}  in
[14:37] {Threei}  stop above .30
[14:41] {Threei}  16% Say U.S. Heading In Right Direction
[14:41] {Threei}  I guess those 16 envision world without US as ideal
[14:42] {RonS} 16% in US love jumping off cliff
[14:42] {Threei}  that would explain it
[14:42] {Threei}  OK SPY is entering breakdown zone
[14:43] {Threei}  wake up RIMM, and smell the... hmm
[14:43] {Threei}  not sure what it is I want RIMM to smell
[14:44] {nemo} if it's gonna' bounce, it will be here
[14:44] {Threei}  EUR under 1.436
[14:45] {Threei}  (US) Fed's Lockhart:- US is in a jobs crisis, with large number of unemployed and underemployed workers.
[14:46] {Threei}  and sun rises in east mr lockhart
[14:46] {nemo} interesting, yesterday's close, coincided with my support trend line
[14:46] {Threei}  (GR) Greece Finance Ministry has denied earlier press reports that the Govt had hired a law firm to evaluate an exit from the Euro - world press
[14:46] {Threei}  - An earlier report in a Greek newspaper stated that the govt had hired a US law firm (Cleary Gottlieb) to advise the country on how it might restructure its debt and take other measures in the event of a Greek exit from the Euro Zone.
[14:46] {Threei}  - Clearly Gottlieb has previously advised Uruguay and Argentinia on debt restructuring efforts.
[14:48] {Threei}  beauty of a line today:
[14:48] {Threei}  (EU) ECB's Kranjec: Euro region dealing with the fiscal crisis "well"
[14:49] {RonS} think he meant for bottom of well
[14:49] {RonS} from
[14:50] {Threei}  "how do you react when a passerby suddenly hits you in the face?"
[14:51] {Threei}  "why, I fall on the ground... isn't it a good reaction?"
[14:53] {RonS} man, today has worn me out...
[14:53] {Threei}  SPY nears red
[14:53] {Threei}  DJI too
[14:53] {Threei}  there... both are red
[14:53] {Threei}  nw I need a closing bell
[14:54] {Threei}  now
[14:54] {Threei}  and I have some wine and some carrot juice... not sure what to with this latter though
[14:56] {Threei}  RIMM doesn't act righbt
[14:56] {Threei}  tightening to .26
[15:07] {nemo} spy and iwm and DIA positive cough
[15:07] {nemo} cough
[15:11] {Threei}  flu?
[15:11] {Threei}  cold?
[15:15] {Threei}  well, they are all red... who is coughing now {G}
[15:16] {Threei}  oh, I got it... nemo's talking to me only when he wins, and back to not talkling to me when I do
[15:20] {nemo} I'm not talking I'm typing
[15:21] {Threei}  nah... agree, "not typing to you" has no zing at all
[15:23] {_zeeee} sheesh...rimm sure is thick at 33.20
[15:23] {Threei}  yeah, I dropped that idea
[15:24] {Threei}  something keeps it afloat
[15:24] {_zeeee} yea, and cant crack the 60 min. 50 at 32.35 on pops
[15:24] {Threei}  TZA
[15:25] {Threei}  let's see if can get something good there
[15:25] {larisa} that's cheating.. your bet was on selling :)
[15:27] {Threei}  hmm?
[15:27] {Threei}  sorry, lost me
[15:27] {Threei}  it's still is
[15:27] {Threei}  selling and finishing in red or flat
[15:28] {larisa} oh right..  confused TZA with TNA :)
[15:28] {Threei}  :)
[15:28] {nemo} she blonde?
[15:28] {Threei}  I thought for a min you woluldn't qualify buying inverse ETF as selling... thought "by she sure doesn't cut me much slack"
[15:28] {dino} guess who's back
[15:28] {Threei}  by = boy
[15:28] {nemo} Obama
[15:28] {Threei}  dino!!
[15:28] {nemo} ?
[15:28] {Threei}  finally
[15:28] {Threei}  power outage?
[15:28] {nemo} take a boat?
[15:29] {Threei}  flood?
[15:29] {nemo} famine?
[15:29] {nemo} Pestilence?
[15:29] {Threei}  trees halving your house?
[15:29] {dino} been w/o electric sunday & monday, cable out until just now. cable internet
[15:29] {nemo} dog ate the newspaper?
[15:29] {Threei}  yep, that's what we figured
[15:29] {Threei}  nemo was out too till this morning
[15:30] {Threei}  otherwide, you safe?
[15:30] {Threei}  dry?
[15:30] {nemo} spy dia positive
[15:30] {dino}  not much flooding, but lots of trees on power lines, magoo still w/o electric
[15:30] {Threei}  say hello to tat slacker
[15:31] {Threei}  tell him he is needed here
[15:31] {Threei}  other than nemo, the rest is too sane
[15:31] {dino} :D
[15:32] {nemo} gdx
[15:32] {Threei}  looking to try TZA around .60
[15:32] {dino} i miss much
[15:32] {nemo} Vad was insufferable
[15:33] {Threei}  what else is new?
[15:34] {Threei}  yesterday and today are decent dino
[15:34] {Threei}  Monday was boring and flat
[15:36] {RonS} didn't miss much...larisa hasn't said much and patience has been sleeping in...
[15:37] {RonS} :)
[15:37] {Threei}  bt ron commited sacrilege
[15:37] {Threei}  you don't want to knw which book he called boring
[15:37] {Threei}  OK
[15:37] {Threei}  TZA
[15:37] {Threei}  .65 brwak long half lot
[15:38] {Threei}  if holding .50
[15:39] {Threei}  target .95
[15:39] {Threei}  two partials
[15:39] {dino} ok, thanks guys. i'll be here tomorrow. no sense in doing much today.
[15:39] {Threei}  take care dino, see you tomorrow
[15:40] {Threei}  good to see you are safe
[15:40] {dino} thx
[15:41] {_zeeee} .50 stop?
[15:41] {Threei}  15:38] {Threei} if holding .50
[15:42] {Threei}  that qualifies as astop
[15:42] {Threei}  out
[15:42] {Threei}  second half of the day is not mine
[15:42] {Threei}  good thing we kept it half lots and tighter stops
[15:43] {nemo} yep, gonna' end near the day's open
[15:46] {nemo} So...will I have to wait for dino to send me the beer again?
[15:47] {Threei}  yes
[15:52] {Threei}  ok SPY, can you drop 70 cents in 10 min?
[15:52] {Threei}  8
[15:53] {Threei}  and make nemo cry?
[15:53] {nemo} ain't happening...wish I had taken GDX]
[15:56] {Threei}  well?
[15:56] {Threei}  4 min
[15:56] {Threei}  40 cents left
[15:57] {larisa} bye :)
[15:57] {Threei}  3 min
[15:57] {Threei}  30 cents
[15:57] {Threei}  she cuts and runs
[16:00] {nemo} I know..it's in the mail
[16:00] {Threei}  yes... sigh
[16:00] {Threei}  see you tomorrow :)




Tuesday, August 30, 2011

Aug 30 2011


Very nice day with a lot of good trades. One made a Catch of the Day:

http://on.fb.me/oXrTep

Session Time: Tue Aug 30 00:00:00 2011
[09:00] {Threei}  (US) JUN S&P/CASESHILLER 20 CITY M/M: -0.06% V 0.0%E
[09:19] {Threei}  (EU) German regulator Bafin: Against EBA efforts to allow the EFSF to be used to recapitalize European banks
[09:19] {larisa} gm :)
[09:20] {Threei}  larisa :)
[09:20] {larisa} vad :)
[09:22] {RonS} gm...any news from those mia?
[09:22] {_murex11} gm all
[09:23] {Threei}  ron, murex :)
[09:23] {Threei}  no ron
[09:24] {Threei}  (FI) Finland PM Katainen to make an announcement on an "economic matter" on Thursday, Sept 8th
[09:24] {Threei}  sounds ominous
[09:25] {Threei}  very news-driven market...
[09:25] {Threei}  yesterday's close was totally shaping up for another gap up
[09:25] {Threei}  instead we got this
[09:25] {Threei}  on noise from Europe
[09:27] {RonS} read that merkel is getting domestic political heat on greek bailout
[09:27] {Threei}  right
[09:28] {Threei}  with Sept 7 approching as critical date
[09:28] {Threei}  wit potential to become fatal day for EU
[09:28] {Threei}  no clear opening play
[09:28] {Threei}  watching scanner and usual suspects for setup
[09:30] {Threei}  uh oh
[09:30] {Threei}  Vancouver is no longer the best place in the world to live. After nearly a decade of topping livability studies, the city has slipped to number three behind Melbourne and Vienna.
[09:30] {Threei}  do I move..?
[09:34] {Threei} Long Setup:  SLW  .40 break
[09:34] {ese} gm
[09:34] {Threei}  ese :)
[09:34] {Threei}  let's do half lot
[09:35] {Threei}  spread is still abnormal
[09:35] {Threei}  if stays above .25
[09:36] {Threei} Short Setup: RIMM  .05 break
[09:36] {Threei}  if stays under .15
[09:37] {Threei}  invalidated
[09:39] {Threei} Short Setup: RIMM  .20 break
[09:39] {Threei}  aww, late
[09:39] {Threei}  SLW target 1:2
[09:39] {Threei}  1:1, half out
[09:39] {Threei}  ugh RIMM
[09:39] {pragmatic} ty SLW. out 1:1 (my risk factor)
[09:39] {RonS} slw .38 to .58  thanks 3i
[09:39] {Threei}  welcome
[09:40] {Threei}  1:2, target hit
[09:41] {Threei}  RIMM
[09:41] {Threei}  watching for same setup
[09:41] {Threei}  if stays under .30
[09:41] {Threei}  nope
[09:43] {Threei}  btw Ron... when nemo is back, don't forget to inform him that our first play for long SLW, yes LONG,
[09:45] {Threei} Long Setup:  FCX  .85 break
[09:45] {Threei}  stop under .75 scalpers, .70 day traders
[09:47] {Threei}  stop to under .75 for everyone
[09:48] {Threei}  .79 now
[09:48] {Threei}  let's keep it tight
[09:50] {Threei}  out
[09:52] {Threei}  watching TZA for entry on pullback, ideally between .10 and .20
[09:58] {Threei} Short Setup: RIMM  .50 break
[09:58] {Threei}  TZA bottomed out a bit too high for me
[09:59] {Threei}  dive to .20 was unobtainable
[10:00] {Threei}  *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:00] {Threei}  ugh TZA
[10:02] {Threei}  RIMM 1:1
[10:02] {RonS} rimm .54 to .36  thanks 3i
[10:02] {Threei}  :)
[10:03] {pragmatic} what was that activity spike about ?
[10:03] {Threei}  ,look up
[10:03] {RonS} is this dave in disguise?
[10:03] {Threei}  lol
[10:03] {Threei}  [10:00] {Threei} *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:05] {Threei}  1:2, out
[10:05] {Threei}  lord, this is one fragile market
[10:05] {Threei}  no wonder - with that very low volume rally, it was bound to snap at a first scare
[10:05] {Threei}  from yest:
[10:05] {Threei}  [14:26] {Threei} volume is ridiculously low
[10:05] {Threei}  [14:26] {Threei} I just can't see this rally as sustainable
[10:06] {Threei}  the only regret is that we haven't just jumped in TZA around .30
[10:07] {Threei}  1:3...
[10:17] {ese} L Panl .92
[10:18] {ese} 1/2
[10:24] {ese} out panl stopped .57
[10:24] {ese} -.34
[10:24] {ese} daaaaaaaaa
[10:25] {RonS} aaaaaaaaad
[10:25] {RonS} dino style pulp
[10:25] {ese} yup
[10:26] {RonS} had really good news the past two days but also quite the run...
[10:27] {ese} smells up to me......i'm sure i'm in at the wrong time
[10:28] {Threei}  IS) Israel armed forces said to have sent two warships to the Red Sea in due to a terror alert - world press
[10:28] {RonS} smells down to me but cannot short...
[10:28] {Threei}  their warships are not always here?
[10:28] {ese} didn't even know they had ships
[10:29] {RonS} was thinking the same but i guess more likely in mediterranean
[10:35] {Threei}  looking at TZA again
[10:35] {Threei}  not sure about entry yet
[10:40] {Threei} Long Setup:  TZA  .10 break
[10:40] {Threei}  .95 stop
[10:40] {Threei}  .45 target
[10:41] {Threei}  1:1
[10:41] {Threei}  stop to .05
[10:42] {Threei}  target hit
[10:42] {Threei}  nice and easy
[10:42] {RonS} gj
[10:42] {Threei}  sometimes they behave
[10:44] {ese} L panl sm .76
[10:45] {Threei}  http://www.facebook.com/photo.php?fbid=252983088069707&set=a.237133656321317.63196.235739863127363&type=1
[10:46] {ese} out panl. 54
[10:46] {ese} man this thing moves fast
[10:46] {RonS} nice gj
[10:46] {_jonnyquesada} 1:1
[10:46] {ese} tks
[10:46] {_jonnyquesada} ty
[10:46] {Threei}  sheesh ese
[10:47] {Threei}  good one
[10:47] {Threei}  haven't lost your shape in Europe trip eh?
[10:47] {ese} bs luck at this point...still getting sea legs back
[10:47] {ese} +.73
[10:48] {Threei}  speaking of Europe... my wife is in Spain right now... how's the weather over there?
[10:48] {RonS} bet rain on the plain...
[10:48] {ese} In Denmark it was hit or miss......they've had quite a rainy summer
[10:48] {Threei}  lol Ron
[10:49] {ese} although for our last 6 days it was summy
[10:49] {ese} sunny
[10:49] {Threei}  sunny summer = summy... we got it
[10:50] {ese} hmmmmmmm  i like that
[11:00] {_jonnyquesada} what r you whatching for now?
[11:02] {Threei}  looking around, trying to find anything trade-wrothy
[11:02] {Threei}  hoping that scanner spits out something interesting
[11:03] {Threei}  JCOM is kind of interesting
[11:03] {Threei}  but way too thin
[11:05] {Threei}  shot up nicely but not really traeable
[11:05] {Threei}  tradeable
[11:34] {_jonnyquesada} bmy
[11:35] {_jonnyquesada} short?
[11:35] {_jonnyquesada} or maybe wait for spy break?
[11:35] {Threei}  too narrow
[11:35] {Threei}  20 cents range for the most of the day
[11:36] {Threei}  no room to profit, really... unless you go for a few cents scalp
[11:36] {_jonnyquesada} i loke fore a scalp
[11:36] {_jonnyquesada} normaly, you don't do scalping?
[11:37] {Threei}  we do but we don't define scalping as a few cents
[11:37] {ese} L VRSN .02
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping.html
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping_22.html
[11:38] {Threei}  what's with bout of happiness, SPY?
[11:39] {ese} out 1/2 .09 +.07
[11:39] {RonS} methinks a little squeeze on weak shorts...
[11:40] {Threei}  weak shorts... is it like old shorts, worn along the seams...?
[12:32] {Threei} Short Setup: RIMM  .30 break
[12:32] {_jonnyquesada} or now i's lunch?
[12:32] {Threei}  just a small scalp most likely
[12:33] {Threei}  look at SPY, jonny
[12:33] {ese} lol
[12:33] {Threei}  see how it narrowed and does nothing?
[12:38] {RonS} kinda interesting 3i...i could not get past page 5 of atlas shrugged it was so boring...
[12:39] {Threei}  don't tell dino
[12:39] {Threei}  he will strangle you
[12:39] {RonS} ..interesting in that i slogged my way through ludwig von mises 885 page Human Action
[12:40] {Threei}  rofl
[12:40] {Threei}  and you found atlas shrugged boring??
[12:40] {Threei}  man, you are weird :)
[12:40] {ese} Ron do you have the Will and Ariel Durant 11 volume Story of Civilization collection?
[12:40] {RonS} ...figured a guy who had witnessed the demis of austria by the socialist had more to tell my than some pontificating philosopher
[12:40] {RonS} demise
[12:41] {RonS} no, historical surveys are not my thing...
[12:42] {_jonnyquesada} do you think RIMM it's short???
[12:42] {_jonnyquesada} it donesn'¡t break with spy...
[12:42] {_jonnyquesada} you don't want weakless?
[12:42] {Threei}  are we looking at the same RIMM?
[12:42] {Threei}  mine broke and drops
[12:42] {_jonnyquesada} lol
[12:42] {Threei}  :)
[12:42] {_jonnyquesada} now yes
[12:43] {Threei}  and is hitting 1;1
[12:43] {_jonnyquesada} but when I startes writtin no....
[12:43] {_jonnyquesada} ncredible
[12:43] {_jonnyquesada} yes
[12:43] {_jonnyquesada} here out at 20...but not yest
[12:43] {Threei}  now this is very rich with irony:
[12:43] {Threei}  (US) President Obama said to send letter to House Speaker Boehner highlighting the need to minimize regulatory burdens - financial press
[12:47] {RonS} wow,  this is classic Chow en Lai communist communication in action
[12:47] {ese} hmmmmmm......I enjoy the quick reads from that series.......what do you read mostly Ron?
[12:48] {RonS} economic history and philosophy now ese
[12:50] {RonS} sorry Chou en Lai
[12:53] {ese} philosophy is tough on me but i re read Schopenhauer's "The world as will"......the topics of genius and art i found fascinating.....read it in college and just re read it again a few months back
[12:55] {ese} claims a women can never be a genius.........any opinions on that Laris?
[12:57] {Threei}  RIMM over 1:2
[13:00] {larisa} geniuses are  mad people :)  So "intelligent fool" is good enough for me :)
[13:00] {ese} true....very true
[13:11] {Threei} Long Setup:  FCX  .10 break
[13:11] {Threei}  if stays above 46
[13:18] {Threei}  invalidated
[13:37] {RonS} ye olde fed minutes freeze...
[13:39] {Threei}  yeah
[13:39] {Threei}  although I see little value in that
[13:39] {Threei}  but if market wants to read it so be it
[13:39] {Threei}  I'd beter read idiotic comments by kocherlakota
[13:40] {Threei}  at least they have entertainment value
[13:56] {Threei}  another pearl:
[13:56] {Threei}  (EU) ECB's Trichet:- No quick and simple solutions to deal with rating agency scrutiny
[13:56] {Threei}  today is rich on those
[14:02] {Threei}  Minutes read very poorly
[14:02] {Threei}  you guys want full text?
[14:02] {Threei}  or I can skip posting all this stuff?
[14:02] {RonS} will read tape instead
[14:03] {Threei}  risks, grow, recovery uncertain, soft patch, blah blah
[14:04] {Threei}  there is no single optimistic word in minutes, no idea where that initial spike came from
[14:05] {Threei}  not that there is anything new in negative part, so why se,lloff I don;t know either
[14:36] {Threei} Long Setup:  TNA  .40 break
[14:36] {Threei}  half lot
[14:36] {Threei}  if stays above .25
[14:36] {Threei}  invalidated
[14:36] {Threei}  but looking for another entry
[14:37] {Threei} Long Setup:  TNA  .25 break
[14:38] {Threei}  if stays above .10
[14:39] {Threei}  target .60 - .80
[14:40] {Threei}  first partial .40 - .45
[14:47] {Threei}  oh come on
[14:47] {Threei}  3 cents to target?
[14:47] {Threei}  lol
[14:48] {Threei}  oh well
[14:52] {_jonnyquesada} maybe 20 recross?
[14:52] {Threei}  can't tell
[14:52] {Threei}  hectic action
[14:53] {Threei}  see?? :)
[14:53] {_jonnyquesada} I dont' know wats hectic
[14:53] {_jonnyquesada} i see now....
[14:53] {_jonnyquesada} wrong long 20 recross long...
[14:53] {_jonnyquesada} lol
[14:54] {_jonnyquesada} bmy me gusta en corto
[14:54] {Threei}  want me to start speaking russian?
[14:54] {_jonnyquesada} ups..bmy I like short
[14:54] {_jonnyquesada} excuseme
[14:54] {_jonnyquesada} lol
[14:57] {Threei}  I've no idea what you see interesting in BMY
[14:57] {Threei}  one of the most boruing stocks one can think of
[14:57] {_jonnyquesada} sure?
[14:57] {Threei}  take hours to move 5 cents
[14:57] {_jonnyquesada} ups...
[15:01] {_jonnyquesada} rimm muestra debilidad ahora
[15:01] {_jonnyquesada} excuse
[15:02] {Threei}  ja tak ne dumaju
[15:02] {_jonnyquesada} RIMM it's weak
[15:02] {_jonnyquesada} lol
[15:02] {_jonnyquesada} :-(
[15:07] {Threei}  Election 2012: Generic Republican 48%, Obama 40%
[15:14] {_jonnyquesada} rimm 55 recross
[15:14] {_jonnyquesada} maybe?
[15:14] {_jonnyquesada} one question...how many trades you do per day...more or less
[15:15] {Threei}  5-10
[15:18] {_jonnyquesada} I've read your book
[15:18] {_jonnyquesada} but I have'nt understand everything...my english isn't so good....
[15:19] {Threei}  sorry... it's available in Enlish and two Chinese only
[15:19] {_jonnyquesada} chinese??? lol....i think I prefer english
[15:20] {_jonnyquesada} rimm ahi la tienes
[15:20] {Threei}  yeah... both chinese languages actually... mandarin and simplified
[15:20] {_jonnyquesada} excuse
[15:20] {Threei}  there are tweo chinese languages
[15:20] {_jonnyquesada} lol....i think i understand better english....
[15:20] {_jonnyquesada} do you recomend me to see your videos..?
[15:20] {Threei}  just one german, one french, spanish, russian..
[15:21] {Threei}  and they haven't translated it to any of those - but they did to both chinese
[15:21] {Threei}  well... I recommend everyone to see them
[15:21] {_jonnyquesada} or beter tcome to the chat?
[15:21] {Threei}  if I didn't think they were useful, I wouldn't make them
[15:22] {Threei}  it's not mutually exclusive
[15:22] {Threei}  videos are for education
[15:22] {_jonnyquesada} ok...
[15:22] {Threei}  chat is for current calls
[15:23] {_jonnyquesada} ok...ty
[15:23] {_jonnyquesada} and excuse if sometimes i write in spanish....is not voluntary
[15:24] {Threei}  sure but I will answer in russian :)
[15:24] {Threei}  or we can both speak italian
[15:24] {Threei}  providing we don't know it, it must be interesting
[15:28] {_jonnyquesada} lol
[15:35] {Threei}  this is what I expcted from TNA last time around
[15:38] {_jonnyquesada} wow....how to predict this?!!!!
[15:38] {_jonnyquesada} excelent
[15:38] {RonS} muy bueno compadre
[15:40] {RonS} thinking the banks will move into their gap tomorrow
[15:41] {RonS} caught .85 out of gs today...plan to repeat
[15:42] {RonS} small shares...
[15:43] {Threei}  nice
[15:43] {Threei}  same pathetic volume today as yesterday
[15:43] {Threei}  worst city in the world to live:
[15:43] {Threei}  harare, zimbabwe
[15:44] {Threei}  never even heard of it
[15:44] {RonS} means no rabbits?
[15:45] {RonS} ...always meant to read the biography of cecil rhodes...must have been a heck of a guy...
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening,s ee you tomorrow
[15:59] {larisa} bye :)

Aug 30 2011


Very nice day with a lot of good trades. One made a Catch of the Day:

http://on.fb.me/oXrTep

Session Time: Tue Aug 30 00:00:00 2011
[09:00] {Threei}  (US) JUN S&P/CASESHILLER 20 CITY M/M: -0.06% V 0.0%E
[09:19] {Threei}  (EU) German regulator Bafin: Against EBA efforts to allow the EFSF to be used to recapitalize European banks
[09:19] {larisa} gm :)
[09:20] {Threei}  larisa :)
[09:20] {larisa} vad :)
[09:22] {RonS} gm...any news from those mia?
[09:22] {_murex11} gm all
[09:23] {Threei}  ron, murex :)
[09:23] {Threei}  no ron
[09:24] {Threei}  (FI) Finland PM Katainen to make an announcement on an "economic matter" on Thursday, Sept 8th
[09:24] {Threei}  sounds ominous
[09:25] {Threei}  very news-driven market...
[09:25] {Threei}  yesterday's close was totally shaping up for another gap up
[09:25] {Threei}  instead we got this
[09:25] {Threei}  on noise from Europe
[09:27] {RonS} read that merkel is getting domestic political heat on greek bailout
[09:27] {Threei}  right
[09:28] {Threei}  with Sept 7 approching as critical date
[09:28] {Threei}  wit potential to become fatal day for EU
[09:28] {Threei}  no clear opening play
[09:28] {Threei}  watching scanner and usual suspects for setup
[09:30] {Threei}  uh oh
[09:30] {Threei}  Vancouver is no longer the best place in the world to live. After nearly a decade of topping livability studies, the city has slipped to number three behind Melbourne and Vienna.
[09:30] {Threei}  do I move..?
[09:34] {Threei} Long Setup:  SLW  .40 break
[09:34] {ese} gm
[09:34] {Threei}  ese :)
[09:34] {Threei}  let's do half lot
[09:35] {Threei}  spread is still abnormal
[09:35] {Threei}  if stays above .25
[09:36] {Threei} Short Setup: RIMM  .05 break
[09:36] {Threei}  if stays under .15
[09:37] {Threei}  invalidated
[09:39] {Threei} Short Setup: RIMM  .20 break
[09:39] {Threei}  aww, late
[09:39] {Threei}  SLW target 1:2
[09:39] {Threei}  1:1, half out
[09:39] {Threei}  ugh RIMM
[09:39] {pragmatic} ty SLW. out 1:1 (my risk factor)
[09:39] {RonS} slw .38 to .58  thanks 3i
[09:39] {Threei}  welcome
[09:40] {Threei}  1:2, target hit
[09:41] {Threei}  RIMM
[09:41] {Threei}  watching for same setup
[09:41] {Threei}  if stays under .30
[09:41] {Threei}  nope
[09:43] {Threei}  btw Ron... when nemo is back, don't forget to inform him that our first play for long SLW, yes LONG,
[09:45] {Threei} Long Setup:  FCX  .85 break
[09:45] {Threei}  stop under .75 scalpers, .70 day traders
[09:47] {Threei}  stop to under .75 for everyone
[09:48] {Threei}  .79 now
[09:48] {Threei}  let's keep it tight
[09:50] {Threei}  out
[09:52] {Threei}  watching TZA for entry on pullback, ideally between .10 and .20
[09:58] {Threei} Short Setup: RIMM  .50 break
[09:58] {Threei}  TZA bottomed out a bit too high for me
[09:59] {Threei}  dive to .20 was unobtainable
[10:00] {Threei}  *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:00] {Threei}  ugh TZA
[10:02] {Threei}  RIMM 1:1
[10:02] {RonS} rimm .54 to .36  thanks 3i
[10:02] {Threei}  :)
[10:03] {pragmatic} what was that activity spike about ?
[10:03] {Threei}  ,look up
[10:03] {RonS} is this dave in disguise?
[10:03] {Threei}  lol
[10:03] {Threei}  [10:00] {Threei} *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:05] {Threei}  1:2, out
[10:05] {Threei}  lord, this is one fragile market
[10:05] {Threei}  no wonder - with that very low volume rally, it was bound to snap at a first scare
[10:05] {Threei}  from yest:
[10:05] {Threei}  [14:26] {Threei} volume is ridiculously low
[10:05] {Threei}  [14:26] {Threei} I just can't see this rally as sustainable
[10:06] {Threei}  the only regret is that we haven't just jumped in TZA around .30
[10:07] {Threei}  1:3...
[10:17] {ese} L Panl .92
[10:18] {ese} 1/2
[10:24] {ese} out panl stopped .57
[10:24] {ese} -.34
[10:24] {ese} daaaaaaaaa
[10:25] {RonS} aaaaaaaaad
[10:25] {RonS} dino style pulp
[10:25] {ese} yup
[10:26] {RonS} had really good news the past two days but also quite the run...
[10:27] {ese} smells up to me......i'm sure i'm in at the wrong time
[10:28] {Threei}  IS) Israel armed forces said to have sent two warships to the Red Sea in due to a terror alert - world press
[10:28] {RonS} smells down to me but cannot short...
[10:28] {Threei}  their warships are not always here?
[10:28] {ese} didn't even know they had ships
[10:29] {RonS} was thinking the same but i guess more likely in mediterranean
[10:35] {Threei}  looking at TZA again
[10:35] {Threei}  not sure about entry yet
[10:40] {Threei} Long Setup:  TZA  .10 break
[10:40] {Threei}  .95 stop
[10:40] {Threei}  .45 target
[10:41] {Threei}  1:1
[10:41] {Threei}  stop to .05
[10:42] {Threei}  target hit
[10:42] {Threei}  nice and easy
[10:42] {RonS} gj
[10:42] {Threei}  sometimes they behave
[10:44] {ese} L panl sm .76
[10:45] {Threei}  http://www.facebook.com/photo.php?fbid=252983088069707&set=a.237133656321317.63196.235739863127363&type=1
[10:46] {ese} out panl. 54
[10:46] {ese} man this thing moves fast
[10:46] {RonS} nice gj
[10:46] {_jonnyquesada} 1:1
[10:46] {ese} tks
[10:46] {_jonnyquesada} ty
[10:46] {Threei}  sheesh ese
[10:47] {Threei}  good one
[10:47] {Threei}  haven't lost your shape in Europe trip eh?
[10:47] {ese} bs luck at this point...still getting sea legs back
[10:47] {ese} +.73
[10:48] {Threei}  speaking of Europe... my wife is in Spain right now... how's the weather over there?
[10:48] {RonS} bet rain on the plain...
[10:48] {ese} In Denmark it was hit or miss......they've had quite a rainy summer
[10:48] {Threei}  lol Ron
[10:49] {ese} although for our last 6 days it was summy
[10:49] {ese} sunny
[10:49] {Threei}  sunny summer = summy... we got it
[10:50] {ese} hmmmmmmm  i like that
[11:00] {_jonnyquesada} what r you whatching for now?
[11:02] {Threei}  looking around, trying to find anything trade-wrothy
[11:02] {Threei}  hoping that scanner spits out something interesting
[11:03] {Threei}  JCOM is kind of interesting
[11:03] {Threei}  but way too thin
[11:05] {Threei}  shot up nicely but not really traeable
[11:05] {Threei}  tradeable
[11:34] {_jonnyquesada} bmy
[11:35] {_jonnyquesada} short?
[11:35] {_jonnyquesada} or maybe wait for spy break?
[11:35] {Threei}  too narrow
[11:35] {Threei}  20 cents range for the most of the day
[11:36] {Threei}  no room to profit, really... unless you go for a few cents scalp
[11:36] {_jonnyquesada} i loke fore a scalp
[11:36] {_jonnyquesada} normaly, you don't do scalping?
[11:37] {Threei}  we do but we don't define scalping as a few cents
[11:37] {ese} L VRSN .02
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping.html
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping_22.html
[11:38] {Threei}  what's with bout of happiness, SPY?
[11:39] {ese} out 1/2 .09 +.07
[11:39] {RonS} methinks a little squeeze on weak shorts...
[11:40] {Threei}  weak shorts... is it like old shorts, worn along the seams...?
[12:32] {Threei} Short Setup: RIMM  .30 break
[12:32] {_jonnyquesada} or now i's lunch?
[12:32] {Threei}  just a small scalp most likely
[12:33] {Threei}  look at SPY, jonny
[12:33] {ese} lol
[12:33] {Threei}  see how it narrowed and does nothing?
[12:38] {RonS} kinda interesting 3i...i could not get past page 5 of atlas shrugged it was so boring...
[12:39] {Threei}  don't tell dino
[12:39] {Threei}  he will strangle you
[12:39] {RonS} ..interesting in that i slogged my way through ludwig von mises 885 page Human Action
[12:40] {Threei}  rofl
[12:40] {Threei}  and you found atlas shrugged boring??
[12:40] {Threei}  man, you are weird :)
[12:40] {ese} Ron do you have the Will and Ariel Durant 11 volume Story of Civilization collection?
[12:40] {RonS} ...figured a guy who had witnessed the demis of austria by the socialist had more to tell my than some pontificating philosopher
[12:40] {RonS} demise
[12:41] {RonS} no, historical surveys are not my thing...
[12:42] {_jonnyquesada} do you think RIMM it's short???
[12:42] {_jonnyquesada} it donesn'¡t break with spy...
[12:42] {_jonnyquesada} you don't want weakless?
[12:42] {Threei}  are we looking at the same RIMM?
[12:42] {Threei}  mine broke and drops
[12:42] {_jonnyquesada} lol
[12:42] {Threei}  :)
[12:42] {_jonnyquesada} now yes
[12:43] {Threei}  and is hitting 1;1
[12:43] {_jonnyquesada} but when I startes writtin no....
[12:43] {_jonnyquesada} ncredible
[12:43] {_jonnyquesada} yes
[12:43] {_jonnyquesada} here out at 20...but not yest
[12:43] {Threei}  now this is very rich with irony:
[12:43] {Threei}  (US) President Obama said to send letter to House Speaker Boehner highlighting the need to minimize regulatory burdens - financial press
[12:47] {RonS} wow,  this is classic Chow en Lai communist communication in action
[12:47] {ese} hmmmmmm......I enjoy the quick reads from that series.......what do you read mostly Ron?
[12:48] {RonS} economic history and philosophy now ese
[12:50] {RonS} sorry Chou en Lai
[12:53] {ese} philosophy is tough on me but i re read Schopenhauer's "The world as will"......the topics of genius and art i found fascinating.....read it in college and just re read it again a few months back
[12:55] {ese} claims a women can never be a genius.........any opinions on that Laris?
[12:57] {Threei}  RIMM over 1:2
[13:00] {larisa} geniuses are  mad people :)  So "intelligent fool" is good enough for me :)
[13:00] {ese} true....very true
[13:11] {Threei} Long Setup:  FCX  .10 break
[13:11] {Threei}  if stays above 46
[13:18] {Threei}  invalidated
[13:37] {RonS} ye olde fed minutes freeze...
[13:39] {Threei}  yeah
[13:39] {Threei}  although I see little value in that
[13:39] {Threei}  but if market wants to read it so be it
[13:39] {Threei}  I'd beter read idiotic comments by kocherlakota
[13:40] {Threei}  at least they have entertainment value
[13:56] {Threei}  another pearl:
[13:56] {Threei}  (EU) ECB's Trichet:- No quick and simple solutions to deal with rating agency scrutiny
[13:56] {Threei}  today is rich on those
[14:02] {Threei}  Minutes read very poorly
[14:02] {Threei}  you guys want full text?
[14:02] {Threei}  or I can skip posting all this stuff?
[14:02] {RonS} will read tape instead
[14:03] {Threei}  risks, grow, recovery uncertain, soft patch, blah blah
[14:04] {Threei}  there is no single optimistic word in minutes, no idea where that initial spike came from
[14:05] {Threei}  not that there is anything new in negative part, so why se,lloff I don;t know either
[14:36] {Threei} Long Setup:  TNA  .40 break
[14:36] {Threei}  half lot
[14:36] {Threei}  if stays above .25
[14:36] {Threei}  invalidated
[14:36] {Threei}  but looking for another entry
[14:37] {Threei} Long Setup:  TNA  .25 break
[14:38] {Threei}  if stays above .10
[14:39] {Threei}  target .60 - .80
[14:40] {Threei}  first partial .40 - .45
[14:47] {Threei}  oh come on
[14:47] {Threei}  3 cents to target?
[14:47] {Threei}  lol
[14:48] {Threei}  oh well
[14:52] {_jonnyquesada} maybe 20 recross?
[14:52] {Threei}  can't tell
[14:52] {Threei}  hectic action
[14:53] {Threei}  see?? :)
[14:53] {_jonnyquesada} I dont' know wats hectic
[14:53] {_jonnyquesada} i see now....
[14:53] {_jonnyquesada} wrong long 20 recross long...
[14:53] {_jonnyquesada} lol
[14:54] {_jonnyquesada} bmy me gusta en corto
[14:54] {Threei}  want me to start speaking russian?
[14:54] {_jonnyquesada} ups..bmy I like short
[14:54] {_jonnyquesada} excuseme
[14:54] {_jonnyquesada} lol
[14:57] {Threei}  I've no idea what you see interesting in BMY
[14:57] {Threei}  one of the most boruing stocks one can think of
[14:57] {_jonnyquesada} sure?
[14:57] {Threei}  take hours to move 5 cents
[14:57] {_jonnyquesada} ups...
[15:01] {_jonnyquesada} rimm muestra debilidad ahora
[15:01] {_jonnyquesada} excuse
[15:02] {Threei}  ja tak ne dumaju
[15:02] {_jonnyquesada} RIMM it's weak
[15:02] {_jonnyquesada} lol
[15:02] {_jonnyquesada} :-(
[15:07] {Threei}  Election 2012: Generic Republican 48%, Obama 40%
[15:14] {_jonnyquesada} rimm 55 recross
[15:14] {_jonnyquesada} maybe?
[15:14] {_jonnyquesada} one question...how many trades you do per day...more or less
[15:15] {Threei}  5-10
[15:18] {_jonnyquesada} I've read your book
[15:18] {_jonnyquesada} but I have'nt understand everything...my english isn't so good....
[15:19] {Threei}  sorry... it's available in Enlish and two Chinese only
[15:19] {_jonnyquesada} chinese??? lol....i think I prefer english
[15:20] {_jonnyquesada} rimm ahi la tienes
[15:20] {Threei}  yeah... both chinese languages actually... mandarin and simplified
[15:20] {_jonnyquesada} excuse
[15:20] {Threei}  there are tweo chinese languages
[15:20] {_jonnyquesada} lol....i think i understand better english....
[15:20] {_jonnyquesada} do you recomend me to see your videos..?
[15:20] {Threei}  just one german, one french, spanish, russian..
[15:21] {Threei}  and they haven't translated it to any of those - but they did to both chinese
[15:21] {Threei}  well... I recommend everyone to see them
[15:21] {_jonnyquesada} or beter tcome to the chat?
[15:21] {Threei}  if I didn't think they were useful, I wouldn't make them
[15:22] {Threei}  it's not mutually exclusive
[15:22] {Threei}  videos are for education
[15:22] {_jonnyquesada} ok...
[15:22] {Threei}  chat is for current calls
[15:23] {_jonnyquesada} ok...ty
[15:23] {_jonnyquesada} and excuse if sometimes i write in spanish....is not voluntary
[15:24] {Threei}  sure but I will answer in russian :)
[15:24] {Threei}  or we can both speak italian
[15:24] {Threei}  providing we don't know it, it must be interesting
[15:28] {_jonnyquesada} lol
[15:35] {Threei}  this is what I expcted from TNA last time around
[15:38] {_jonnyquesada} wow....how to predict this?!!!!
[15:38] {_jonnyquesada} excelent
[15:38] {RonS} muy bueno compadre
[15:40] {RonS} thinking the banks will move into their gap tomorrow
[15:41] {RonS} caught .85 out of gs today...plan to repeat
[15:42] {RonS} small shares...
[15:43] {Threei}  nice
[15:43] {Threei}  same pathetic volume today as yesterday
[15:43] {Threei}  worst city in the world to live:
[15:43] {Threei}  harare, zimbabwe
[15:44] {Threei}  never even heard of it
[15:44] {RonS} means no rabbits?
[15:45] {RonS} ...always meant to read the biography of cecil rhodes...must have been a heck of a guy...
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening,s ee you tomorrow
[15:59] {larisa} bye :)

Monday, August 29, 2011

Aug 29 2011

Empty day with back and forth trading - win some, lose some. Those without power didn't miss anything.


Session Time: Mon Aug 29 00:00:00 2011
[09:14] {Threei}  (EU) ECB Chief Trichet: ECB's balance sheet is not nearly as large as the balance sheets of the Federal Reserve or the BoE
[09:14] {Threei}  - Reiterates that ECB will solidly anchor inflation expectations, price stability.
[09:21] {Threei}  some have power outage I suppose
[09:22] {larisa} gm :)
[09:22] {Threei}  larisa :)
[09:23] {larisa} vad :)
[09:27] {_murex11} gm all
[09:27] {Threei}  murex :)
[09:27] {Threei}  so far, nemo and dino of east coasters are not in
[09:28] {Threei}  SLW is red
[09:28] {Threei}  spread is horrible
[09:28] {Threei}  watching for tightening
[09:29] {Threei}  RIMM looks like long candidate, daily is nice
[09:29] {Threei}  hopefully consolidates a bit to give us a clean open break
[09:29] {Threei}  if not, will wait for pullback
[09:32] {Threei} Short Setup: SLW  .20 break
[09:33] {Threei}  if stays under .35
[09:33] {Threei}  that's one hectic break
[09:33] {Threei}  1:1
[09:35] {Threei}  SPY lost its mind or what
[09:35] {Threei}  SLW 1:2, out
[09:36] {Threei}  (SP) IMF cuts Spain GDP outlook: now sees 2011 GDP +0.7% v 0.8% prior, 2012 +1.3% v +1.6% prior
[09:37] {Threei}  what a wierd opening
[09:37] {Threei} Long Setup:  TZA  .50 reak half lot
[09:37] {Threei}  stop under .35
[09:38] {Threei}  valid again
[09:38] {Threei}  same setup
[09:38] {Threei}  first break was way too fast
[09:38] {Threei}  not anymore
[09:39] {patience} good morning
[09:39] {Threei}  morning patience
[09:41] {Threei} Long Setup:  FCX  .20 break
[09:41] {Threei}  half lot
[09:42] {Threei} Long Setup:  RIMM  .90 break
[09:44] {Threei}  RIMM invalidated
[09:48] {Threei}  something is very strange about this market
[09:49] {Threei}  TED spreads widen like there is no tomorrow... yet market is gapping up and staying up
[09:51] {Threei} Short Setup: SLW  .40 break
[09:53] {Threei}  valid still
[09:53] {Threei}  .55 stop
[09:53] {ese} morning.......
[09:53] {Threei}  ese!
[09:53] {Threei}  welcome back
[09:53] {Threei}  how was the trip?
[09:54] {ese} fabulous........the mayor of Ballerup announced us as the most popular band at the festival
[09:54] {Threei}  cool
[09:54] {Threei}  congratulations
[09:55] {ese} was very nice of them
[09:55] {patience} very cool ese
[09:55] {Threei}  let's cover half SLW here
[09:56] {Threei}  stop to .45
[09:56] {Threei}  1;1
[09:56] {Threei}  btw ese, I don't know if you are aware... but you are playing Masquerade Ball in Empress
[09:57] {ese} yes......
[09:57] {Threei}  :)
[09:57] {ese} are you attending?
[09:57] {Threei}  I doubt it... not really my forte
[09:57] {RonS} gm...got slw .44 to .24  thanks 3i and nice to hear from you ese...
[09:57] {Threei}  Ron :)
[09:57] {ese} tks Ron....good to be back
[09:58] {Threei}  I did a photoshoot with Pacific Ballet recently... they told me about the ball, and mentioned your group playing it
[09:59] {Threei}  http://photography.realitytrader.com/2011/08/canadian-pacific-ballet.html
[10:00] {Threei}  *(US) JULY PENDING HOME SALES M/M: -1.3% V -0.9%E; Y/Y: 10.1% V 13.6%E
[10:01] {RonS} is ese the dude w/ the hat or the clown?
[10:01] {RonS} :)
[10:01] {ese} clown
[10:01] {Threei}  hey, if tyou see ese group, you are runied forever for all other groups {G}
[10:02] {ese} is that inside the Macpherson theatre vad?
[10:02] {Threei}  no, Market Sq
[10:03] {ese} ahhhhhhh.......ok.......can see that now
[10:04] {Threei} Long Setup:  RIMM  .60 break
[10:04] {Threei}  half lot
[10:04] {Threei}  no aggressive entries
[10:04] {Threei}  want to see .60 broken
[10:05] {RonS} missed
[10:06] {Threei}  see if pulls back to trigger
[10:06] {Threei}  if not, just let it be
[10:07] {Threei}  1:1... oh well
[10:10] {Threei}  SLW was worth another shot..
[10:10] {Threei}  felt to me like going to well one too many times
[10:11] {ese} Hmmmmmmmmm...(EU) Spain, Italy, and France extend short selling ban; Italy and Spain through to September 30, France allows extension to Nov 11 at the latest if necessary
[10:11] {Threei}  wow
[10:11] {Threei}  yeah
[10:12] {Threei}  as if it helped them before
[10:12] {Threei}  or anyone else for that matter
[10:12] {ese} mrkts.... could go into free fall with stuff like that
[10:13] {Threei}  I wonder why they haven't
[10:13] {Threei}  TED and swap threads are going crazy
[10:16] {ese} also.....if those stocks don't retreat to a fair price.......who the F is going to buy them? hmmmmmm
[10:17] {Threei}  well... there is no consensus about what constitutes fair price, you see :)
[10:18] {ese} true
[10:18] {Threei} Short Setup: FCX  45 break
[10:18] {Threei}  half lot
[10:19] {ese} fundamentalists determine that.........and if they don't like it.....they don't buy
[10:19] {Threei}  invalidated
[10:19] {Threei}  but they disagree between thremselves too
[10:20] {Threei}  and even if they didn't... market makes a lot of moves that make no sense from their point of view
[10:20] {Threei}  so, quite signififcant forces do their buying and selling with no regard to teir "fair price" view
[10:25] {Threei}  market resumed this slow climb which I hate so much
[10:25] {Threei}  impossible to find trades in this
[10:25] {ese} i'm with ya there
[10:25] {Threei}  waiting for something to change
[10:25] {Threei}  meanwhile, let me treat you to this
[10:26] {Threei}  http://photography.realitytrader.com/2011/08/colors-of-iris.html
[10:26] {ese} very nice
[10:30] {Threei}  *(US) AUG DALLAS FED MANUFACTURING ACTIVITY: -11.4 V -8.5E
[10:31] {Threei}  (EU) EU Commissioner Rehn: Scope for further economic stimulus is very limited; warns that imposing euro bonds would require greater fiscal surveillance
[10:32] {Threei}  limited eh
[10:32] {Threei}  good
[10:32] {Threei}  stop wasiting money for the lost cause
[10:32] {Threei} Short Setup: FCX  .20 break
[10:44] {Threei}  1:1
[10:49] {Threei}  look at SLW intraday
[10:50] {Threei}  what on earth is this about
[11:04] {Threei}  (EU) EU Juncker: A solution to the collateral issue for Greek debt will be solved within days or weeks
[11:04] {Threei}  or months
[11:04] {Threei}  or not
[11:05] {Threei} Short Setup: SLW  .20 break
[11:08] {Threei}  invalidated of course
[11:08] {RonS} finally, fcx .24 to .04  thanks 3i
[11:08] {Threei}  :)
[11:29] {Threei}  the opace is so even, hard to discern the turns
[11:29] {Threei}  gradual up, gradual down, no acceleration
[11:37] {Threei}  (GE) German parliament confirms vote on EFSF to be delayed by one week due to a visit by the pope
[11:37] {Threei}  lol
[12:03] {Threei} Long Setup:  TNA  .80 break
[12:03] {Threei}  half lot
[12:03] {Threei}  if stays above .65
[12:04] {Threei}  1:1
[12:06] {Threei}  1;2, out
[12:06] {Threei}  amazing how easy money comes once you accept that this market goes up, lol
[12:14] {RonS} vwap comment
[12:15] {RonS} in memory of nemo
[12:15] {Threei}  well, our resident vwap guy is cut off the world
[12:15] {Threei}  by the forces of nature
[12:31] {Threei} Short Setup: SLW  39 break
[12:50] {Threei}  (GR) EU's Juncker: Greece collateral issue will be resolved by mid Sept at the latest, does not believe a special eurogroup meeting will be needed to resolve the collateral issue
[13:24] {Threei}  UN's Food and Agriculture Organization (FAO) today warned about potential for a dangerous mutant strain of H5N1 bird flu flaring up again - press
[13:24] {Threei}  come on...
[13:24] {Threei}  as if last scare was not humiliating enough
[13:25] {Threei}  sure enough NVA went up by 4 cents on that
[13:25] {Threei}  NVAX
[13:28] {Threei}  6
[14:08] {ese} ..
[14:26] {Threei}  volume is ridiculously low
[14:26] {Threei}  I just can't see this rally as sustainable
[14:56] {Threei} Long Setup:  TZA  .75 break
[14:56] {Threei}  stop under .60
[15:00] {Threei}  no go
[15:20] {Threei} Short Setup: GMCR  .95 break half lot
[15:30] {Threei} Long Setup:  TNA  .30 break
[15:30] {Threei}  if stays above .15
[15:32] {Threei}  target 1:3
[15:32] {Threei}  1:1
[15:33] {Threei}  balance stopped
[15:40] {Threei}  a lot of churning today
[15:40] {ese} outta here........mostly getting my sea legs back......paper traded basically the whole day
[15:40] {Threei}  take care ese, see you tomorrow
[15:40] {ese} cya
[15:40] {Threei}  here comes TNA
[15:40] {Threei}  rinsed the balance
[15:41] {Threei}  ok guys, worthless day really
[15:41] {Threei}  have a good evening, see you tomorrow
[15:42] {patience} ty

Aug 29 2011

Empty day with back and firth trading - win some, lose some. Those without power didn't miss anything.


Session Time: Mon Aug 29 00:00:00 2011
[09:14] {Threei}  (EU) ECB Chief Trichet: ECB's balance sheet is not nearly as large as the balance sheets of the Federal Reserve or the BoE
[09:14] {Threei}  - Reiterates that ECB will solidly anchor inflation expectations, price stability.
[09:21] {Threei}  some have power outage I suppose
[09:22] {larisa} gm :)
[09:22] {Threei}  larisa :)
[09:23] {larisa} vad :)
[09:27] {_murex11} gm all
[09:27] {Threei}  murex :)
[09:27] {Threei}  so far, nemo and dino of east coasters are not in
[09:28] {Threei}  SLW is red
[09:28] {Threei}  spread is horrible
[09:28] {Threei}  watching for tightening
[09:29] {Threei}  RIMM looks like long candidate, daily is nice
[09:29] {Threei}  hopefully consolidates a bit to give us a clean open break
[09:29] {Threei}  if not, will wait for pullback
[09:32] {Threei} Short Setup: SLW  .20 break
[09:33] {Threei}  if stays under .35
[09:33] {Threei}  that's one hectic break
[09:33] {Threei}  1:1
[09:35] {Threei}  SPY lost its mind or what
[09:35] {Threei}  SLW 1:2, out
[09:36] {Threei}  (SP) IMF cuts Spain GDP outlook: now sees 2011 GDP +0.7% v 0.8% prior, 2012 +1.3% v +1.6% prior
[09:37] {Threei}  what a wierd opening
[09:37] {Threei} Long Setup:  TZA  .50 reak half lot
[09:37] {Threei}  stop under .35
[09:38] {Threei}  valid again
[09:38] {Threei}  same setup
[09:38] {Threei}  first break was way too fast
[09:38] {Threei}  not anymore
[09:39] {patience} good morning
[09:39] {Threei}  morning patience
[09:41] {Threei} Long Setup:  FCX  .20 break
[09:41] {Threei}  half lot
[09:42] {Threei} Long Setup:  RIMM  .90 break
[09:44] {Threei}  RIMM invalidated
[09:48] {Threei}  something is very strange about this market
[09:49] {Threei}  TED spreads widen like there is no tomorrow... yet market is gapping up and staying up
[09:51] {Threei} Short Setup: SLW  .40 break
[09:53] {Threei}  valid still
[09:53] {Threei}  .55 stop
[09:53] {ese} morning.......
[09:53] {Threei}  ese!
[09:53] {Threei}  welcome back
[09:53] {Threei}  how was the trip?
[09:54] {ese} fabulous........the mayor of Ballerup announced us as the most popular band at the festival
[09:54] {Threei}  cool
[09:54] {Threei}  congratulations
[09:55] {ese} was very nice of them
[09:55] {patience} very cool ese
[09:55] {Threei}  let's cover half SLW here
[09:56] {Threei}  stop to .45
[09:56] {Threei}  1;1
[09:56] {Threei}  btw ese, I don't know if you are aware... but you are playing Masquerade Ball in Empress
[09:57] {ese} yes......
[09:57] {Threei}  :)
[09:57] {ese} are you attending?
[09:57] {Threei}  I doubt it... not really my forte
[09:57] {RonS} gm...got slw .44 to .24  thanks 3i and nice to hear from you ese...
[09:57] {Threei}  Ron :)
[09:57] {ese} tks Ron....good to be back
[09:58] {Threei}  I did a photoshoot with Pacific Ballet recently... they told me about the ball, and mentioned your group playing it
[09:59] {Threei}  http://photography.realitytrader.com/2011/08/canadian-pacific-ballet.html
[10:00] {Threei}  *(US) JULY PENDING HOME SALES M/M: -1.3% V -0.9%E; Y/Y: 10.1% V 13.6%E
[10:01] {RonS} is ese the dude w/ the hat or the clown?
[10:01] {RonS} :)
[10:01] {ese} clown
[10:01] {Threei}  hey, if tyou see ese group, you are runied forever for all other groups {G}
[10:02] {ese} is that inside the Macpherson theatre vad?
[10:02] {Threei}  no, Market Sq
[10:03] {ese} ahhhhhhh.......ok.......can see that now
[10:04] {Threei} Long Setup:  RIMM  .60 break
[10:04] {Threei}  half lot
[10:04] {Threei}  no aggressive entries
[10:04] {Threei}  want to see .60 broken
[10:05] {RonS} missed
[10:06] {Threei}  see if pulls back to trigger
[10:06] {Threei}  if not, just let it be
[10:07] {Threei}  1:1... oh well
[10:10] {Threei}  SLW was worth another shot..
[10:10] {Threei}  felt to me like going to well one too many times
[10:11] {ese} Hmmmmmmmmm...(EU) Spain, Italy, and France extend short selling ban; Italy and Spain through to September 30, France allows extension to Nov 11 at the latest if necessary
[10:11] {Threei}  wow
[10:11] {Threei}  yeah
[10:12] {Threei}  as if it helped them before
[10:12] {Threei}  or anyone else for that matter
[10:12] {ese} mrkts.... could go into free fall with stuff like that
[10:13] {Threei}  I wonder why they haven't
[10:13] {Threei}  TED and swap threads are going crazy
[10:16] {ese} also.....if those stocks don't retreat to a fair price.......who the F is going to buy them? hmmmmmm
[10:17] {Threei}  well... there is no consensus about what constitutes fair price, you see :)
[10:18] {ese} true
[10:18] {Threei} Short Setup: FCX  45 break
[10:18] {Threei}  half lot
[10:19] {ese} fundamentalists determine that.........and if they don't like it.....they don't buy
[10:19] {Threei}  invalidated
[10:19] {Threei}  but they disagree between thremselves too
[10:20] {Threei}  and even if they didn't... market makes a lot of moves that make no sense from their point of view
[10:20] {Threei}  so, quite signififcant forces do their buying and selling with no regard to teir "fair price" view
[10:25] {Threei}  market resumed this slow climb which I hate so much
[10:25] {Threei}  impossible to find trades in this
[10:25] {ese} i'm with ya there
[10:25] {Threei}  waiting for something to change
[10:25] {Threei}  meanwhile, let me treat you to this
[10:26] {Threei}  http://photography.realitytrader.com/2011/08/colors-of-iris.html
[10:26] {ese} very nice
[10:30] {Threei}  *(US) AUG DALLAS FED MANUFACTURING ACTIVITY: -11.4 V -8.5E
[10:31] {Threei}  (EU) EU Commissioner Rehn: Scope for further economic stimulus is very limited; warns that imposing euro bonds would require greater fiscal surveillance
[10:32] {Threei}  limited eh
[10:32] {Threei}  good
[10:32] {Threei}  stop wasiting money for the lost cause
[10:32] {Threei} Short Setup: FCX  .20 break
[10:44] {Threei}  1:1
[10:49] {Threei}  look at SLW intraday
[10:50] {Threei}  what on earth is this about
[11:04] {Threei}  (EU) EU Juncker: A solution to the collateral issue for Greek debt will be solved within days or weeks
[11:04] {Threei}  or months
[11:04] {Threei}  or not
[11:05] {Threei} Short Setup: SLW  .20 break
[11:08] {Threei}  invalidated of course
[11:08] {RonS} finally, fcx .24 to .04  thanks 3i
[11:08] {Threei}  :)
[11:29] {Threei}  the opace is so even, hard to discern the turns
[11:29] {Threei}  gradual up, gradual down, no acceleration
[11:37] {Threei}  (GE) German parliament confirms vote on EFSF to be delayed by one week due to a visit by the pope
[11:37] {Threei}  lol
[12:03] {Threei} Long Setup:  TNA  .80 break
[12:03] {Threei}  half lot
[12:03] {Threei}  if stays above .65
[12:04] {Threei}  1:1
[12:06] {Threei}  1;2, out
[12:06] {Threei}  amazing how easy money comes once you accept that this market goes up, lol
[12:14] {RonS} vwap comment
[12:15] {RonS} in memory of nemo
[12:15] {Threei}  well, our resident vwap guy is cut off the world
[12:15] {Threei}  by the forces of nature
[12:31] {Threei} Short Setup: SLW  39 break
[12:50] {Threei}  (GR) EU's Juncker: Greece collateral issue will be resolved by mid Sept at the latest, does not believe a special eurogroup meeting will be needed to resolve the collateral issue
[13:24] {Threei}  UN's Food and Agriculture Organization (FAO) today warned about potential for a dangerous mutant strain of H5N1 bird flu flaring up again - press
[13:24] {Threei}  come on...
[13:24] {Threei}  as if last scare was not humiliating enough
[13:25] {Threei}  sure enough NVA went up by 4 cents on that
[13:25] {Threei}  NVAX
[13:28] {Threei}  6
[14:08] {ese} ..
[14:26] {Threei}  volume is ridiculously low
[14:26] {Threei}  I just can't see this rally as sustainable
[14:56] {Threei} Long Setup:  TZA  .75 break
[14:56] {Threei}  stop under .60
[15:00] {Threei}  no go
[15:20] {Threei} Short Setup: GMCR  .95 break half lot
[15:30] {Threei} Long Setup:  TNA  .30 break
[15:30] {Threei}  if stays above .15
[15:32] {Threei}  target 1:3
[15:32] {Threei}  1:1
[15:33] {Threei}  balance stopped
[15:40] {Threei}  a lot of churning today
[15:40] {ese} outta here........mostly getting my sea legs back......paper traded basically the whole day
[15:40] {Threei}  take care ese, see you tomorrow
[15:40] {ese} cya
[15:40] {Threei}  here comes TNA
[15:40] {Threei}  rinsed the balance
[15:41] {Threei}  ok guys, worthless day really
[15:41] {Threei}  have a good evening, see you tomorrow
[15:42] {patience} ty

Friday, August 26, 2011

Aug 26 2011


After a nice winning streak, a day when you can't trade your way out of wet paper bag should come. Mine came today. Shrug. New week, new opportunities.


A few quotes from A Taoist Trader over nearest days, first today:


http://on.fb.me/oAWFHJ

Session Time: Fri Aug 26 00:00:00 2011
[08:54] {Threei}  LOL... "Bank of America has two problems. First, it's a bank. Second, of America"
[08:57] {nemo} http://online.wsj.com/article/SB10001424053111904787404576530520471223268.html
[09:02] {Threei}  total Wonderland
[09:03] {RonS} gm...when the citizenry is brutalized as criminals they will become criminals...
[09:04] {Threei}  so true ron
[09:04] {Threei}  I know that better than most, having witnessed firsthand whole country population made criminals
[09:11] {dino} gm all
[09:13] {Threei}  dino :)
[09:18] {Threei}  am I still allowed to quote myself?
[09:18] {Threei}  A Taoist Trader accepts the unwelcome and welcomes the unexpected
[09:18] {Threei}  if not, boohoo - I just did
[09:21] {RonS} neal sedaka song?
[09:21] {RonS} "it's my party"
[09:21] {dino} who is this taoist trader you speak of? :D
[09:21] {Threei}  how would I know
[09:21] {Threei}  not that I ever met him
[09:25] {gen} gm everybody
[09:25] {gen} :)
[09:25] {larisa} gm :)
[09:25] {Threei}  gen, larisa :)
[09:31] {Threei} Short Setup: FCX  .10 break
[09:32] {Threei}  stop above .20 or .25
[09:32] {Threei}  bith are valid
[09:32] {Threei}  both too
[09:34] {Threei}  no go
[09:34] {nemo} ow
[09:34] {nemo} jumped my cover out .33
[09:41] {Threei}  things are jumpy and unsettled
[09:41] {Threei}  no clear setups
[09:42] {nemo} probably stay that way with the Jhole stuff Friday and the hurricane
[09:42] {dino} jackson hole at 10:00
[09:42] {Threei}  SLW spread is still wide
[09:44] {Threei} Long Setup:  SLW  .30 break
[09:44] {Threei}  if stays above .15
[09:45] {Threei}  invalidated
[09:45] {RonS} ...guess patience got capped...
[09:46] {patience} good morning
[09:47] {Threei}  morning
[09:48] {Threei} Short Setup: RIMM  .40 break
[09:48] {nemo} took it long .41
[09:49] {nemo} 1/2 .50
[09:49] {Threei}  still valid, IMO
[09:49] {nemo} .42 bid
[09:50] {nemo} out below .42
[09:50] {Threei}  invalidated
[09:50] {nemo} out .52 numbers coming
[09:50] {Threei}  5 min
[09:51] {nemo} huge sell .49 see if .42 bidder shows up
[09:51] {Threei}  valid again
[09:52] {Threei}  .50 break was better idea in rertospect
[09:52] {Threei}  missed FCX .40 break
[09:52] {Threei}  grrr
[09:54] {nemo} what a chopfest
[09:54] {Threei}  no kidding
[09:55] {Threei}  *(US) AUG FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 55.7 V 55.8E
[09:56] {nemo} bfd
[09:57] {pragmatic} who is Ben Bernanke ?
[09:57] {nemo} Hed of The Fed
[09:57] {nemo} Federal Reserve
[09:58] {Threei}  He Who Prints the Money
[09:58] {pragmatic} the mesage just popped on Laser
[09:59] {dino} think they are looking for galt
[10:00] {Threei}  *(US) FED CHAIRMAN BERNANKE: WILL DO WHAT IS NEEDED TO ASSIST RECOVERY - JACKSON HOLE SPEECH
06[10:01] * pragmatic what a nice red bar on spy!
[10:01] {Threei}  FED POLICY CANNOT DO MUCH TO ALTER ECONOMY'S LONG-TERM TREND
[10:01] {Threei}  "we are out of bullets"
[10:01] {dino} thx bernie, thought you might just stop doing anything
[10:07] {Threei}  - Reiterates that the Fed possesses the tools necessary to aid the economy.
[10:07] {Threei}  - Notes that Fed will meet for two days instead of one in September, to consider moves to provide additional monetary stimulus and other issues at that time.
[10:07] {Threei}  - The US needs to develop better fiscal decision making processes.
[10:07] {Threei}  - Pace of economic recovery has been slower than hoped, still sees better growth over the second half of 2011. The global economy is generating significant growth.
[10:07] {Threei}  - Still expects inflation to be at or below target rate of 2%.
[10:08] {larisa} how come I  spend 30% more on groceries buying same stuff as year ago :)
[10:09] {larisa} oh i know..
[10:09] {Threei}  haha
[10:09] {larisa} my house is 28% cheaper :)
[10:09] {nemo} they don't count
[10:10] {Threei}  **NOTE: Bernanke's speech lacked any mention of QE3 or "Operation Twist," potential moves to aid markets observers had been hoping for.
[10:10] {Threei}  from my yesterday's prophecy:
[10:10] {Threei}  Tomorrow is Jackson Hole speech, and my strong feeling is, it will be nothing but fizzle. No definite promise of QE3, no categorical denial either. We will see how good I am at prophecies :)
[10:10] {Threei}  done quoting myself... for now :)
[10:12] {Threei}  if anyone is interested in full text, http://www.federalreserve.gov/newsevents/speech/bernanke20110826a.htm
[10:13] {Threei}  not sure why anyone wqould though
[10:14] {nemo} hehehe:  spy bounced right at Semesterly S3  http://www.freestockcharts.com?emailChartID=d6110f53-0e78-456e-94f1-2131c0ba5871
[10:15] {dino} good, thats out of the way, back to work
[10:18] {Threei} Short Setup: FCX  .95 break
[10:18] {Threei}  if stays under .05
[10:18] {dino} slh partial fill l .45
[10:19] {nemo} vwap at .10 might go there first
[10:21] {Threei}  market spike
[10:21] {Threei}  not my day so far
[10:22] {dino} turn that frown upside down
[10:23] {Threei}  na, no frown
[10:23] {Threei}  had a good string of winning days, sooner or later it had to end
[10:23] {Threei}  and there is whole day ahead still
[10:23] {dino} out slh .77 ave +.32
[10:33] {nemo} tza .01 long wow
[10:33] {nemo} 1/2 out .35
[10:33] {dino}  nice
[10:33] {nemo} 1/4 more .51
[10:33] {nemo} stop .15
[10:34] {nemo} it ripped
[10:34] {nemo} target 52. 30 area
[10:34] {dino} wtfg
[10:35] {nemo} out .51
[10:35] {nemo} damn
[10:35] {nemo} volatility
[10:36] {nemo} oops
[10:37] {nemo} gawd
[10:37] {dino} sm l chk .25
[10:40] {dino} sm l infy .50
[10:43] {Threei}  sheesh
[10:43] {Threei}  I prepare TZA alert and keep it ready - and it moves 20 cents just as I want to hit enter
[10:44] {Threei}  and while I type this, it drops 40
[10:45] {nemo} think spy wants 116.75 area
[10:46] {dino} chk to .55 infy to .80
[10:47] {dino} out chk .65, +.40
[10:47] {Threei}  (US) VP Biden: US economy needs more stimulus
[10:47] {Threei}  imbecile
[10:47] {dino} infy to .90
[10:49] {dino} out infy .95, +.45
[10:54] {Threei} Short Setup: FCX  .30 break
[10:54] {Threei}  if stays under .40
[10:56] {Threei}  trail to .36
[10:57] {Threei}  1:1
[11:00] {Threei}  1:2
[11:00] {Threei}  out
[11:00] {Threei}  neede this win
[11:01] {Threei}  (GR) Greece said to be at risk for meeting its fiscal targets for 2011 - financial press
[11:01] {Threei}  lol
[11:04] {dino} shocking
[11:09] {RonS} holy smokes panl
[11:12] {dino} crazy pulp, panl
[11:15] {dino} well, another 300 pt range day
[11:17] {RonS} O's par for the course...job killing so pervasive its barely noticed anymore:  http://tinyurl.com/3jl9efz
[11:18] {nemo} there's more to that story ron
[11:19] {RonS} do tell obi wan...
[11:22] {nemo} I'm trying to remember the details, but it goes back to the 2008 time period, and it's not just that act...It puts restrictions on imports also when you have strained supply...look up that act and reports around 2008...that's a bit of a slanted story
[11:22] {nemo} serves a good political purpose though
[11:26] {RonS} thanks for clearing that up
[11:29] {nemo} http://archives.hawaiireporter.com/story.aspx?ac1c3644-1128-425c-93ca-a75569efbd91
[11:29] {Threei} Short Setup: RIMM  .25 break
[11:30] {Threei}  if stays under .35
[11:34] {Threei} Short Setup: FCX  .60 break
[11:35] {nemo} .72 is pivot
[11:35] {Threei}  and .73 is high
[11:35] {nemo} yep
[11:35] {nemo} good stop
[11:36] {Threei}  nope
[11:36] {nemo} and resistance from yesterday at 3ish threeish
[11:43] {nemo} wow, this volatility
[11:50] {nemo} spy walking daily pivot
[11:56] {RonS} check the hourly on the eur
[11:58] {RonS} cigx murdered on court rulings
[12:01] {dino}  i don't get the euro, so strong w/countries falling apart
[12:01] {Threei}  no one does
[12:01] {nemo} hope
[12:01] {Threei}  one theory that I am more or less willing to subscribe to is:
[12:02] {Threei}  the bet is that once it becomes inevitable, weakest members will be cut off but the union and currency will stay
[12:02] {Threei}  and will become stronger for it
[12:03] {Threei}  I don't think it's correct, I just acknowledge that such bet may exist and materializes in buying Euro
[12:03] {nemo} It may be people feeling there are a few more rounds left in the Musical chairs game on the decks of the Titanic
[12:04] {Threei}  yeah
[12:04] {Threei}  in my view, that won't work like this
[12:04] {Threei}  once exodus starts, it spreads
[12:04] {Threei}  contagion becomes widespread
[12:04] {Threei}  and union, if survives, will consist of a few strongest countries
[12:05] {Threei}  but that makes little sense,
[12:05] {nemo} purely technically, this market action is very bullish for next week
[12:05] {Threei}  as the whole idea was to unitete strong producers with weaker ones, to provide them with new markets
[12:06] {Threei}  strong producers united with each other - that's not what union was created for
[12:06] {Threei}  I dunno nemo... look at volume
[12:08] {nemo} last week of summer on Friday before hurricane, I expect volume to be low,
[12:11] {dino} me too, leaning towards nemo
[12:14] {nemo} I would think we end up near the daily pivots today
[12:21] {dino} i'm a bit disappointed i did not catch more of this move
[12:21] {nemo} that makes two of us
[12:22] {dino} 3/3 but nothing huge
[12:22] {Threei}  what to say about me then, who can't trade 25 cents for a phone call today? :)
[12:22] {nemo} bohica
[12:25] {dino} lol
[12:26] {nemo} hehehehehe
[12:33] {Threei}  TZA
[12:33] {Threei}  48 break
[12:34] {nemo} held .80 so far, think it's important
[12:36] {nemo} 1:1
[12:36] {Threei}  1/3 out .18
[12:36] {nemo} nice call vad
[12:36] {Threei}  stop to .95
[12:36] {nemo} ballshy
[12:36] {Threei}  hmmm
[12:36] {Threei}  ty... I guess
[12:36] {Threei}  but I still need to find out what exactly ballshy is
[12:36] {nemo} ballsy
[12:36] {Threei}  :)
[12:36] {nemo} brass ones
[12:37] {Threei}  oh, so shy is from shiny?
[12:39] {dino} back in hour or so
[12:43] {Threei} Short Setup: FCX  44 break
[12:49] {Threei}  TZA rinsed balance
[12:53] {nemo} friday afternoon before the hurricane chop time
[13:05] {nemo} I'm calling it a draw on this one
[13:11] {Threei}  good call
[13:20] {nemo} now I'd be tempted to go fcx short
[13:24] {Threei}  .10?
[13:24] {Threei}  NY subway will shut down tomorow at noon
[13:24] {nemo} not sure yet watching indexes
[13:26] {nemo} I'm wondering if wu wei should rule also being Friday afternoon, hard to read, easy to push things higher with no volume
[13:26] {Threei}  well... often it's the case
[13:26] {Threei}  sometimes it's not
[13:26] {nemo} yeah, today is not normal, hard to apply an edge
[13:26] {Threei}  just watching if something compelling comes up
[13:27] {RonS} ...mayor bloomberg reiterates "no swimming in the subway"
[13:29] {RonS} ok guys...see you monday...daughter leaving early to beat the storm...have a good weekend and thanks to all for a good week
[13:30] {patience} bye Ron
[13:30] {Threei}  take care ron, stays safe, see you on monday
[13:38] {dino} .
[13:45] {nemo} volume spikes in uwm and tna but not iwm
[13:52] {larisa} betting we will sell down to slightly red by the day end :)
[13:52] {Threei}  you think?
[13:52] {nemo} 117.18 daily pivot spy
[13:53] {Threei}  TZA .70 long then
[13:54] {nemo} I think the spy has one more FU in it
[13:54] {Threei}  ok, waiting then
[13:56] {dino} wow larisa
[13:56] {Threei}  carrot juice makes people brave
[13:56] {Threei}  gives them sense of avdenture
[13:57] {larisa} like swimming during hurricane
[13:58] {dino} lol
[13:58] {Threei}  darwin takes care of those :)
[14:01] {nemo} kist creeping up the trendline
[14:11] {Threei}  OK, looking at the SPY...
[14:11] {Threei}  one last bounce, lower high, then breakdown
[14:11] {nemo} yeah, looks short, but wim not so much
[14:12] {nemo} iwm
[14:13] {Threei}  larisa... I came to conclusion that people who iron their shirts on themselves are worse than those swimming in hurricane
[14:13] {nemo} strange friends
[14:13] {Threei}  they have better chance to survive and procreate
[14:14] {Threei}  .70 break again
[14:14] {Threei}  TZA
[14:14] {larisa} missing the point completely.. ironing shirts while wearing them is lazyness, not adventure..
[14:16] {Threei}  dunno... you may say those swimming in the hurricane do it out of laziness - they don't want to come out of the water only to get back in aftter gurricane passes
[14:17] {larisa} I may not,  I am smart one :)
[14:17] {Threei}  ok... I will then
[14:19] {Threei}  referendum results in BC just in on new tax
[14:19] {Threei}  rejected
[14:36] {Threei}  you know what's strange?
[14:37] {nemo} Magoo?
[14:37] {Threei}  lol, yes
[14:37] {Threei}  but aside of that:
[14:37] {Threei}  dollar down, commodities and equities up - as if QE3 was announced
[14:37] {nemo} Les
[14:52] {Threei}  market stubbornly stays up
[14:53] {nemo} vwaps coming up, think daily pivots will be the area of the close
[15:34] {dino} hmmm will lari be right?
[15:34] {larisa} nobody is afraid of hurricanes anymore...
[15:35] {Threei}  see... high time for darwin
[15:35] {Threei}  good lesson in darwin style would be:
[15:35] {Threei}  market is not on at all on Monday as NY is hit,
[15:36] {Threei}  wEurope comes apart Monday evening,
[15:36] {Threei}  Tuesday sees market gapping down 500 points.
[15:36] {Threei}  That's it, reckless optimists are cleaned out
[15:36] {Threei}  and swimming in hurricane finally has its consequences
[15:39] {dino} how about this, germany opts out of euro......or greece simply defaults
[15:40] {dino} odds 1:1 germany,      4:1 greece (within one year
[15:40] {patience} either way, i'm 100% in cash after one trade today....just waiting in the shallows
[15:42] {dino} of course this could happen too, huricane could be mild, germany says ok to bonds, and greece gets disapline
[15:46] {Threei}  so, funny that: first tiem in all these years I think Ben did the right thing
[15:47] {Threei}  backed away and said, Congress must fix fiscal.spending imbalances, not monetary policy tricks
[15:47] {Threei}  I wish he did that two QEs ago
[15:48] {dino} me too, we'd be through this already
[15:48] {Threei}  or at least firmly on the way to healing
[15:54] {Threei}  finishing in the same coma at the high
[15:55] {larisa} see you :)
[15:55] {Threei}  ok guys, let's have a good weekend
[15:55] {Threei}  see you all on Monday
[15:57] {dino} take care all, thx for ideas
[16:00] {Threei}  oh boy
[16:00] {Threei}  US President Obama and IMF's Lagarde agreed earlier today on need for more policies that help growth in the near term- have agreed on need for fiscal consolidation over the medium term
[16:00] {Threei}  this is scary...