Multi-time Frame Analysis Update

These are my observations for Thursday and Friday. Big updates this weekend, I'll get to at as soon as I can...

Oh, and I had to make an image of the description so the numbers wouldn't resequence...

SVM quick update

Had to do this update on the road, so no screenshots - that'll come on Monday or Tuesday when I am back in the office. Important resistance at $8 is taken, further confirming our double bottom-based swing trade; if we  finish the day above 8, there is not much resistance up to 9 - 9.20. That it happens in a red market is even more reassuring.

Sep 29 2011

(Participation in the room in real time requires membership)


ATTENTION: Due to Whistler conference, next trading log is going to be posted on Tuesday Oct 4. Please do not sign up for a trial before Monday evening - no trials will be granted before Tuesday trading session.

Flat day for us, started with a few stops and ended with tedious repair work. 


Session Time: Thu Sep 29 00:00:00 2011

Session Start: Thu Sep 29 08:34:07 2011
Session Ident: #discussions
[08:34] * Now talking in #discussions
[08:43] {Threei}  good morning
[08:43] {Threei}  for once, jobkess claims came in decent
[08:43] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 391K V 420KE; CONTINUING CLAIMS: 3.73M V 3.73ME
[08:49] {nemo} what was the GDP number
[08:49] {thomcbell} 1.3
[08:49] {nemo} http://article-complaining-about-cr*p-author-doesn't-understand
[08:49] {Threei}  *(US) Q2 FINAL GDP Q/Q ANNUALIZED: 1.3% V 1.2%E; PERSONAL CONSUMPTION: 0.7% V 0.4%E
[08:50] {Threei}  *(US) Q2 FINAL GDP PRICE INDEX: 2.5% V 2.4%E; CORE PCE Q/Q: 2.3% V 2.2%E
[08:52] {Threei}  author has zero idea what he is talking about
[08:52] {Threei}  point 1 is flat wrong
[08:53] {nemo} pissa
[08:54] {Threei}  point 2 is full of confusion, hard to tell even which part of it makes less sense than others
[08:55] {nemo} o.k. so it wasn't me
[08:55] {Threei}  and point 3 shws author doesn't understand the difference between exchange and plaers
[08:55] {Threei}  players
[08:56] {Threei}  amazes me really
[08:56] {Threei}  everyone is an educxator
[08:58] {Threei}  am I right, there was no any meaningful news from Europe?
[08:58] {Threei}  I see none
[09:05] {Threei}  oh, there is
[09:06] {Threei}  German parliament backs more powers for EFSF with large majority - source
[09:09] {Threei}  thoiford, look private message please
[09:12] {RonS} gm everyone
[09:12] {Threei}  Ron :)
[09:19] {murex11} gm all
[09:19] {Threei}  murex :)
[09:23] {ese} morning
[09:23] {Threei}  ese :)
[09:23] {ese} vad....i owe you some money......
[09:24] {ese} for the pictures of the band you took last summer
[09:24] {Threei}  you've no idea... the interest I charge is about 1200% a day
[09:24] {ese} lol
[09:24] {Threei}  :)
[09:25] {ese} I got a surprise yesterday.....before we left for Denmark I had sent one of those pictures to the Jazz Society for this benefit concert we are doing for them tomorrow.......
[09:25] {ese} and.....
[09:26] {Threei}  suspence is killing me
[09:26] {ese} I pick up the Victoria News yesterday and it's in the paper
[09:26] {Threei}  wow, really?
[09:26] {larisa} gm :)
[09:26] {Threei}  can you grab one for me?
[09:26] {Threei}  larisa :)
[09:26] {ese} http://www.bclocalnews.com/search/?curSection=%2Fvancouver_island_south%2Fvictorianews&keywords=youth+programs+in+focus+for+jazz+fundraiser+&searchWSS=%2Fvancouver_island_south%2Fvictorianews&search=SEARCH&bc09=true
[09:27] {ese} that should be the link
[09:27] {Threei}  http://www.bclocalnews.com/vancouver_island_south/victorianews/entertainment/130606043.html
[09:27] {Threei}  this is it
[09:27] {ese} if that doesn't work.......google Victoria News....then "Youth program in focus for jazz society fundraiser concert"
[09:27] {Threei}  they cut off a sky a little, just where I instered clouds :)
[09:28] {Threei}  ty ese, glad to see it
[09:28] {Threei}  guys before market opened,
[09:28] {ese} scroll down
[09:28] {nemo} guess yesterday
[09:28] {nemo} flat open will remain an oddity
[09:28] {Threei}  everyone remember that I am off to Whistker conference
[09:29] {Threei}  so won't be here tomorrow and Monday
[09:29] {ese} Oh ya........have a great time
[09:30] {Threei}  speaking whole day on Sunday
[09:31] {Threei}  FCX
[09:31] {Threei}  looking for bounce
[09:31] {Threei}  half lot
[09:31] {Threei} Long Setup:  FCX  33 break
[09:31] {Threei}  if holding above .90
[09:32] {Threei}  ummm
[09:32] {Threei}  lol
[09:32] {Threei}  feel free to exit if you got it
[09:32] {Threei}  which I doubt ery much
[09:32] {Threei}  but feel free to prove me wriong
[09:33] {Threei} Short Setup: FCX  .90 break
[09:34] {Threei}  stop .05
[09:35] {Threei}  no go
[09:35] {dino} gm
[09:35] {Threei}  dino :)
[09:36] {dino} have fun at conference vad
[09:36] {Threei}  ty
[09:38] {Threei}  FCX rinse
[09:38] {Threei}  slimy bastard
[09:38] {nemo} janitor!
[09:39] {Threei} Long Setup:  SLW  .60 break
[09:39] {Threei}  if stays above .50
[09:39] {dino} ew?
[09:40] {Threei}  invalidated
[09:40] {dino} fosl?
[09:40] {Threei} Long Setup:  FCX  .60 break
[09:40] {Threei}  if stays above .50
[09:41] {Threei}  invalidated
[09:41] {ese} L Lnc .40
[09:42] {Threei} Long Setup:  FCX  .40 break
[09:42] {Threei}  if holding above .30
[09:44] {Threei}  held by fingertips
[09:44] {z} stopped me at .29
[09:44] {nemo} voulume not convincing
[09:45] {Threei}  do you use atumatic stops??
[09:45] {z} well yea
[09:45] {Threei}  out now
[09:45] {Threei}  wow, no cooperation whatsoever
[09:45] {Threei}  don't
[09:45] {Threei}  manual ones are way to go
[09:45] {ese} out 1/2 Lnc .53 +.13
[09:46] {z} well it often races past too quick and i lose another 5-7 cents off it
[09:46] {z} so figure mechanical stops are best
[09:46] {ese} ahhhhhh make the .52 and a bit
[09:46] {ese} stop balance .36
[09:47] {dino} meli sm l .74
[09:48] {ese} LNC to break even
[09:49] {ese} to .55
[09:49] {dino} fosl sm l .51
[09:49] {Threei}  wow, that's two rinses FCX
[09:49] {ese} to .60
[09:49] {Threei}  we are not friends today
[09:50] {ese} you and I are though
[09:50] {ese} to .65
[09:50] {Threei}  of course, you haven't rinsed me twice today
[09:50] {ese} opps out
[09:51] {ese} .64 LNC +.24
[09:51] {Threei}  pending home sales at 10
[09:53] {dino} out fosl .21, +.72
[09:53] {Threei} Long Setup:  X  .30 break
[09:53] {Threei}  if stays above .20
[09:55] {dino} meli stop -.36
[09:56] {Threei}  need this .27 offer taken
[09:57] {Threei}  moved to .23 and got swallowed
[09:57] {Threei}  target about .55 - .60, 3 partials
[09:58] {dino} 07 all red
[09:58] {thomcbell} fcx - disgusting
[09:59] {Threei}  what the deuce today
[10:00] {Threei}  *(US) AUG PENDING HOME SALES M/M: -1.2% V -2.0%E; Y/Y: 13.1% V 6.4%E
[10:01] {Threei}  X, another rinse??
[10:01] {Threei}  (AS) Austria Fin Min: Does not believe that euro bonds are a good idea
[10:02] {dino} but he will vote for it
[10:02] {Threei}  as long as he is not backing them
[10:02] {Threei}  great, X at 1:1
[10:03] {Threei}  I think these two days away will be good for me, running into loss cluster obviously
[10:05] {dino} meli rinsed
[10:05] {dino} i'm ou the 5th thru 10th
[10:05] {dino} out
[10:05] {Threei}  watch X proceeding to the target
[10:06] {Threei}  yup, here it is
[10:06] {Threei}  if I try very hard, can I chew through my own throat?
[10:08] {Threei} Short Setup: FSLR  66 break half lot
[10:08] {Threei}  oops
[10:08] {Threei}  late
[10:08] {nemo} you already leave for the conference?
[10:09] {Threei}  bids disappeared as I typed
[10:09] {nemo} wow LVS
[10:10] {Threei}  LVS needs one more sharp selloff before becoming bounce candidate
[10:11] {nemo} 41.55
[10:12] {dino} fosl sm l .44
[10:13] {dino} pulp
[10:15] {dino} 83, +.39
[10:17] {Threei}  here it goes, LVS
[10:18] {Threei}  this should be last shakeout before decisive bounce
[10:18] {Threei}  let's see if we can find entry point
[10:18] {Threei}  .80 break
[10:19] {Threei} Long Setup:  LVS  .80 break
[10:19] {Threei}  stop under .66
[10:19] {Threei}  target is 42.30 or so
[10:19] {nemo} fast
[10:19] {Threei}  half out
[10:20] {Threei}  even gave second chance if you missed first
[10:20] {Threei}  stop to .75
[10:24] {Threei}  market weakens again
[10:24] {Threei}  balance stopped
[10:25] {Threei} Long Setup:  LVS  .70 break
[10:25] {Threei}  if stays above .60
[10:26] {Threei}  invalidated
[10:27] {Threei}  don't you find this line highly ironic:
[10:27] {Threei}  GM S&P raises ratings two notches to BB+ from BB-; ouitlook Stable; now highest level of junk status
[10:28] {dino} nice ipo at 32, lol, at 20
[10:29] {dino} ndx gap fill
[10:30] {z} market sure feels weak
[10:31] {dino} yeah
[10:31] {dino} 07 all red again, not a good sign
[10:33] {Threei}  LVS is gettong seriously overstretched
[10:35] {Threei}  jumped with no chance for entry
[10:36] {RonS} in lvs 40.75
[10:36] {Threei}  wtg
[10:36] {RonS} 41.80 target...need to fix my day
[10:38] {dino} cmi sm l .08
[10:40] {RonS} out .30  +.55 ese size
[10:40] {dino} gj
[10:41] {dino} cyou sm l ave .75
[10:41] {dino} fosl lod
[10:43] {Threei}  LVS is getting interesting again
[10:44] {z} WYNN at the low of day
[10:44] {RonS} es futes look horrible right now
[10:44] {dino} stop cmi .01, -.07
[10:47] {Threei} Long Setup:  LVS  .70 break half lot
[10:48] {dino} cyou stop -.36
[10:48] {Threei}  half out .85
[10:48] {Threei}  stop to .65
[10:49] {Threei}  1:2
[10:53] {dino} cyou sm l .00
[10:53] {Threei} Long Setup:  TZA  .50 break half lot
[10:53] {Threei}  stop under .35
[10:54] {Threei}  1:1
[10:54] {Threei}  1:2
[10:55] {Threei}  fixing it step by step, trade by trade
[10:55] {Threei}  breathing a bit easier, ron?
[10:55] {RonS} ya
[10:56] {dino} cmi sm l .34
[10:59] {Threei}  folks, once again, I am off tomorrow and Monday,
[10:59] {Threei}  meaning three things
[10:59] {nemo} here it comes
[10:59] {Threei}  1. Trailers, your access is extended by two days
[11:00] {Threei}  2. as much as this is throat-cutting business, do help each other these two days, there are plenty other throats to cut (just ask nemo to point them out),
[11:00] {Threei}  3. Pivot point analysis for the week will be posted Mon afternoon instead of sat-Sun
[11:01] {thomcbell} where are they posted to Vad?/
[11:01] {nemo} on that note, if you send me your emails through DCC, when I get it done I will email it to you...I will be drunk from tomorrow night until Sunday morning, so don't expect it before then...
[11:02] {nemo} Vad posts them in the blog...you can also get links in the right hand margin
[11:05] {Threei}  http://tradinglog.realitytrader.com/
[11:05] {dino} out cmi .25, +.91
[11:06] {Threei}  analysis for the week are posted over weekend, and if there are significant events, mid-week update
[11:07] {nemo} usually I'll try to post SPY midweek just to illustrate where price action follows the mapping
[11:16] {Threei} Long Setup:  TNA  .40 break half lot
[11:16] {nemo} spy just dt'd at the pivot
[11:16] {Threei}  stop under .30
[11:17] {Threei}  no go
[11:24] {dino} nxpi l .75
[11:24] {Threei}  LVS, decent bounce after all
[11:25] {nemo} vwap .90, might drop their
[11:31] {Threei} Short Setup: SLW  .70 break
[11:31] {Threei}  if stays under .80
[11:35] {Threei}  sigh
[11:36] {Threei}  hate this whole week
[11:36] {Threei}  I think it shapes up as my worst week of the year
[11:37] {Threei}  yesterday was barely saved by the last trade
[11:37] {Threei}  the rest is miserable
[11:37] {nemo} you usually have one to two 3-day bad stretches a year
[11:38] {Threei}  this is obviously one of dem clusters
[11:40] {dino} well, yesterdays totally sucked for me too
[11:41] {Threei}  I'd think it's rather normal - this market nervouseness doesn't make for a good following technical patterns
[11:41] {Threei}  jerky ractions on any headline mess things up
[11:42] {RonS} copper hod
[11:42] {nemo} nflx monster buyer @ 115
[11:45] {ese} hmmmmmmm.....been following it......i think theres still more dn side that one
[11:45] {ese} your talkin bounce nemo
[11:45] {ese} per chance
[11:46] {nemo} it did...that buyer was providing support, only problem is the spread it usually trades under
[11:46] {nemo} $1 in 3 minutes
[11:46] {dino} nvda l .33
[11:47] {ese} ya no kidding.....the spread is a killer on that one
[11:47] {Threei}  Hearing Piper Jaffray speculating that YOKU, DANG, and MOBI to be at most risk related to the reported DOJ investigation of Chinese firms' accounting (timing uncertain)
[11:47] {Threei}  - Larger names such as SINA, BIDU, and SOHU are less likely to be impacted.
[11:47] {Threei}  - REMINDER: earlier it was reported that the Dept of Justice launched investigation into accounting practices of Chinese firms listed in the US.
[11:53] {Threei} Long Setup:  TNA  .10 break
[11:54] {Threei}  stop under 36
[11:54] {Threei}  target .55, three partials
[11:57] {Threei}  what, 1:1 is all you could do??
[11:57] {Threei}  shrug
[11:57] {nemo} spy is at vwap, so wasn't IWM
[12:00] {Threei}  is uptrend broken on 1 min or not
[12:00] {nemo} no
[12:01] {Threei}  'cause if it is, TZA 49 break is the way to go
[12:01] {Threei}  obviously not
[12:01] {Threei}  but TNA 36 didn't look right at all
[12:01] {Threei}  yet worked
[12:03] {nemo} spy bounced at trend, tna followed
[12:04] {Threei}  I guess just shows you how out of tune I am this week
[12:05] {dino}  out cyou .44, +.44
[12:06] {z} dino, what is your stop and target on nvda long?
[12:12] {dino} stop is .19 target .60
[12:13] {dino} sorry for delay, had to make lunch and throw laundry in
[12:13] {z} ok thx
[12:13] {nemo} you home or at the office?
[12:13] {dino} been home for 13 months, after magoo left office, i moved home, now rent the office
[12:13] {RonS} sounds like the strip club...
[12:14] {nemo} ahhhh
[12:14] {RonS} :D
[12:14] {dino} next wek ron
[12:14] {dino} lol
[12:15] {Threei}  lol
[12:15] {Threei}  look nemo
[12:15] {Threei}  now it's opposite
[12:15] {nemo} what?
[12:15] {Threei}  TNA/TZA
[12:15] {Threei}  TZA double-bottomed
[12:16] {nemo} spy and IWM double topped at vwap
[12:16] {Threei}  and I didn'ttrust myself enough to go for it
[12:17] {ese} am outta here....cya tomorrow
[12:17] {Threei}  take care ese, see you tuesday
[12:19] {dino} cya ese
[12:21] {Threei}  ok... up or down?
[12:22] {Threei}  I am inclined to "down" and view TZA as long
[12:22] {patience} if i say the market is down, please go long..my trading is not good this week
[12:22] {Threei}  around 49 - 49 .10
[12:23] {dino} rumors of fund liquidations, reaql$
[12:23] {patience} yup dino, tomorrow is cutoff for redemption requests for this quarter for some funds
[12:24] {dino} thx
[12:28] {Threei}  ok... trying
[12:28] {Threei}  .01
[12:28] {Threei}  1:1
[12:29] {Threei}  half out .17
[12:29] {Threei}  1:3
[12:29] {Threei}  1/3 out .30
[12:29] {Threei}  1/4
[12:29] {Threei}  sheesh... for once I am right today
[12:30] {nemo} shhhhhh
[12:30] {Threei}  don't shush me, it very well could be my only good trade today, lol
[12:30] {nemo} don't jinx it
[12:31] {Threei}  1:4
[12:31] {Threei}  1:5
[12:31] {nemo} you must sacrifice to the trading gods
[12:31] {Threei}  out +.47
[12:32] {dino} gj
[12:32] {Threei}  I did earlier, didn't I
[12:32] {Threei}  ty
[12:32] {dino} stop nvda -.14
[12:32] {Threei}  still negative for the day but much much easier to breathe
[12:33] {Threei}  trivial loss, nothing to pour ashes on my head over
[12:34] {Threei}  1:8
[12:34] {Threei}  without me
[12:34] {patience} still in it
[12:34] {Threei}  oh well, I had to book some decent profit
[12:34] {Threei}  glad to get right read
[12:34] {Threei}  Fitch downgraded New Zealand
[12:35] {patience} good grief
[12:35] {Threei}  lol
[12:36] {patience} of any country, they pick new zealand
[12:36] {Threei}  France President Sarkozy and Greece PM Papandreou have scheudled meeting for 17:00 Paris time
[12:36] {Threei}  someone at neweswire spells like me
[12:36] {Threei}  "scheudled"?
[12:36] {patience} ty vad
[12:36] {Threei}  fikslexia
[12:36] {Threei}  yw
[12:36] {patience} out +.91
[12:37] {Threei}  wtg
[12:37] {Threei}  that was a glimpse of former me, capable of calling things right, lol
[12:38] {Threei}  but, as arnold said...
[12:38] {Threei}  (EU) Euro zone finance ministers are said to be unlikely to make any final decisions on EFSF leverage at conference on Monday, Oct 3rd - financial press
[12:38] {Threei}  - Finance ministers are most likely planning to select a way of leveraging the EFSF that would not require any new ratification processes by national parliaments, would not trigger a ratings downgrade.
[12:39] {Threei}  (SZ) Swiss National Bank's (SNB) Hildebrand: Sentiment at last weekend's IMF meeting was gloomy
[12:41] {dino} lol, not require national parliments. see, 3i, ignore voters.
[12:41] {Threei}  sigh
[12:44] {patience} back in tza
[12:46] {dino} cmi sm l .56
[12:47] {Threei}  (SZ) Swiss National Bank's (SNB) Hildebrand: Sentiment at last weekend's IMF meeting was gloomy; weak growth puts the global economy in a dangerous phase
[12:47] {Threei}  - Global economy is in a very difficult spot, faces enormous problems that must be solved.
[12:47] {Threei}  - The uncertainty is high but risks are "clearly to the downside"
[12:47] {Threei}  - The capacity for fiscal reaction to the crisis is much lower than it was in 2008.
[12:48] {dino} confidence inspiring
[12:49] {dino} sheesh
[12:49] {Threei}  lol
[12:52] {dino} csh l .21
[12:57] {dino} out cmi .82 ave, +.35
[13:04] {nemo} fun stuff:  http://www.quotationspage.com/quotes/H._L._Mencken
[13:08] {dino} nxpi l .58
[13:12] {dino} nvda l .15
[13:18] {Threei}  YNA
[13:18] {Threei}  TNA
[13:18] {Threei}  .60 break long
[13:18] {nemo} if holding?
[13:19] {Threei}  .45
[13:21] {nemo} methinks bear flag forming
[13:29] {Threei}  hmmm
[13:30] {Threei}  feels like another bout of panic selling coming to me
[13:31] {z} vad is coming up with an alert that will have us seeing a money flag forming :)
[13:31] {Threei}  I think SPY is going to make new lows
[13:31] {Threei}  and proceed into red
[13:32] {nemo} thus the bear flag
[13:32] {z} haha
[13:32] {z} you give him no slack do you nemo
[13:32] {nemo} define slack?
[13:32] {dino}  nxpi stop -.15
[13:33] {z} some leeway, wiggle room
[13:33] {patience} vad, any suggestions when to cut off tza trade?  entered at 50.26
[13:33] {nemo} well, if you read more closely, you'll see there was a qualitative comment in his post not present in mine
[13:34] {nemo} patience, you partialling?
[13:34] {patience} not yet
[13:34] {nemo} if spy breaks .65 stop
[13:35] {Threei}  I'd just partail, it has ptential to go to 52
[13:35] {patience} ty
[13:37] {nemo} .55-.60 is quarterly S3 and WPP
[13:37] {Threei}  not to be outdone by Fitch and NZ,
[13:37] {Threei}  S&P lowers Minnesota general obligation bonds one notch to AA+ from AAA; citing a structural imbalance
[13:38] {Threei}  (US) Fed's Lockhart: The high rate of unemployment in the US is perplexing, US may be going through a hiring slowdown
[13:38] {Threei}  you think??
[13:38] {Threei}  what is so perplexing about that... get the guy hostile to business out of the office, then we will talk about hiring
[13:39] {Threei}  how hard is that to understand
[13:39] {patience} out
[13:39] {dino} good rant 3i
[13:40] {Threei}  I find myself not even caring aanymore who is presented as alternative to him, for one simple reason:
[13:40] {Threei}  he is so toxic to the economy, anyone will be better
[13:40] {nemo} it don't matter
[13:41] {nemo} gotta' blow up Congress too
[13:41] {dino} carter all over again
[13:41] {nemo} worse
[13:41] {nemo} Carter was an engineer by training, this guy is a demagogue
[13:42] {dino} they need to "get out of the way"
[13:42] {nemo} careful here patience
[13:42] {Threei}  no
[13:42] {Threei}  one more leg down
[13:42] {nemo} lotsa' buying coming in
[13:43] {Threei}  not yet
[13:43] {Threei}  52!
[13:43] {nemo} I said careful, not get out
[13:43] {Threei}  target hit
[13:43] {patience} i have to pay my visa bill tomorrow
[13:43] {Threei}  I have no furthe read on TZA right now
[13:43] {Threei}  had 52 as clearly visible target
[13:44] {Threei}  you are up $1.75
[13:44] {nemo} this is spy low, likely bounce/consolidation area
[13:44] {Threei}  get out, IMO
[13:44] {patience} ty, i'm out
[13:45] {patience} already transferred profit from trading account to chequing   :)   ty
[13:45] {Threei}  transferred profit from trading account to chequing - fine... but did you send my share??
[13:46] {patience} i'll buy you something down in the caymans ok?
[13:46] {Threei}  like house?
[13:47] {dino} cmi sm l .00
[13:48] {patience} laughing, nope, i'll go into Kirk Freeport and buy Mrs. Vad something blingy
[13:48] {Threei}  I don't care about that at all
[13:48] {Threei}  she didn't call TZA for you, did she
[13:51] {dino} s/p gap fill
[13:53] {nemo} funny, I see it in TNA alot...there is this "feeler" offer for 150 lots that moves quite quickly with the bids, not sure what it does, but it seems to gauge the ceiling
[13:54] {dino} chk l .50
[14:02] {dino} cmi stop
[14:03] {patience} in tza 51.60
[14:05] {dino} three dats straight up 200+ to negative
[14:06] {dino} days
[14:07] {nemo} spy major retracement at .45
[14:08] {Threei}  (GR) German banks continue to resist political pressure to take a bigger haircut on Greek bond holdings, but can absorb a larger writedown - FT
[14:08] {Threei}  - Analysts said to be confident that even if German banks were forced to absorb a 50% writedown, they would not experience significant problems, provided Greek crisis can subside.
[14:08] {Threei}  - Report noting that about 10B of Germany's 18B exposure to Greek debt is held at two state-supported "bad banks" set up to rescue Hypo Real Estate and WestLB.
[14:08] {Threei}  - Commerzbank has the highest sovereign exposure to Greece at 2.2B; took a 21% writedown of about 760M in August as a result of bond-swap agreement.
[14:08] {Threei}  - DB said to have a portfolio of Greek debt totaling about 1.15B; Took 155M impairment in July.
[14:08] {Threei}  - Citing Hans-Peter Burghof, banking expert at the University of Hohenheim: "Those banks that can afford it have already written down their Greek bonds ... A haircut will hurt a bit but its not going to put banks in real difficulty."
[14:11] {patience} out tza
[14:13] {Threei}  house this time?
[14:14] {patience} depreciating asset, think of something else
[14:14] {Threei}  I don't care, I'll sell it faster than you can say "depreciation"
[14:24] {Threei}  some bounce time
[14:24] {Threei}  I doubt anything major but downtrend ashould be hatled for now
[14:30] {dino} .
[14:34] {dino} nothing like a 100 pt ndx range
[14:34] {dino} a day is like a week, a week a year.
[14:43] {Threei}  trying to discern next direction
[14:46] {dino} down
[14:47] {Threei}  my feel too
[14:48] {patience} in tza 52.47
[15:05] {Threei}  new low
[15:08] {Threei}  (US) Senate Republicans are calling for President Obama to immediately submit free trade pacts for voting - financial press ***Reminder: On Sept 22nd, Senate Minority leader McConnell (R-KY) said it was time for Pres Obama to submit free trade deals with South Korea, Panama, and Colombia
[15:08] {dino} election year, he will not submit them
[15:10] {dino} nxpi l .01
[15:16] {Threei}  TNA
[15:16] {Threei}  long for scalp 34 break
[15:17] {Threei}  stop .85
[15:17] {Threei}  1:1
[15:18] {Threei}  well, day became pratically flat
[15:18] {Threei}  not stellar but at least not a losing anymore
[15:18] {Threei}  good, would hate to be away for 4 days with last trading day being a loss
[15:20] {Threei}  now time to decide... do we proceed to new lows as eod nears?
[15:20] {Threei}  whose gut says what?
[15:21] {Threei}  mine screams yes
[15:21] {z} spy low 113s
[15:21] {patience} no new lows
[15:22] {Threei}  nemo, here?
[15:23] {z} this market is too nutty to figure out
[15:24] {z} flip a coin
[15:25] {dino} agree w/z. i'll flip the caesars coin
[15:25] {z} vad you make the big bucks to decipher this stuff :)
[15:25] {dino} it's heads, up we go
[15:25] {z} cool
[15:31] {z} the coin is correct thus far
[15:32] {Threei}  I knew dartboard was the way to go
[15:32] {Threei}  but nemo with his "charts, charts" threw me off
[15:33] {Threei}  good thing I didn't bet my new house in Caymans with patience
[15:42] {patience} good thing
[15:44] {dino} seems caesar was right
[15:45] {patience} the dog whisperer?
[15:45] {dino} woof
[15:46] {dino} caesar the gold colored token
[15:52] {dino} out csh ave .42, +.21
[15:53] {dino} out chk .74, +.24
[15:55] {patience} ty all
[15:55] {RonS} have a good time 3i...
[15:55] {dino} have fun 3i
[15:55] {dino} yw patience
[15:56] {Threei}  thank you all
[15:56] {Threei}  be good
[15:56] {Threei}  stay safe
[15:56] {Threei}  see you Tuesday!
[15:58] {dino} out nvda -.08
[15:59] {dino} out nxpi -.01
[16:02] {dino} gn all, thx for ideas

Nemo's Findings - Mid Week Update

Mid-week SPY Multi-time frame update

These are merely my observations on how the levels seem to be playing out.  I do not claim a causal relationship.  I'm merely pointing out where price action and these levels, perhaps coincidentally, seem to interact.  For those of us who have some form of attention deficit,  or are suffering from the progressive sins of our collegiate and young adult social activities,

1.   I'm actually starting this review back on Friday the 23^rd when we bottomed to the penny on what was a weekly support level. As such, I decided to add a fibonacci retracement in purplish, pink (oy vay)   from the most recent swing high. They can be very useful.

2.   The semester S3, which basically coincided with the 23.6% retracement helped keep a lid on price action on Monday, and then served as support to launch the mid-day climb.

3.   Notice how VWAP and the 50% retracement from the July '10 bottom interact.  If you follow price action back on the charts, you will find this retracement level has interacted rather frequently, thus meriting my attention.  Actually, if you look to the beginning of the day, you'll see price action touched the retracement the 2^nd minute of trading and then retraced, and that it also served as support between 9:52 and 10:02.  One could argue that that was merely support formed by the candle earlier, but the retracement has been around a bit longer.

4.   Hehehehehe...'nuf said...ehh, can't be that curt...Anyway as you can see, Semester S2 line at .58 served as resistance, that is if you consider SPY only getting to .56 close enough to be statistically significant.  Notice the purplish, pink retracement directly below that also.  I had been watching momentum basically bleed off since the morning.  I see stuff like that and it makes me think of Schroedinger's cat...

5.   After the stopper was pulled from the bathtub at #4, price action continued to fall, first oscillating around the opening level, before dropping to the confluence area around the yearly pivot point, and the 61.8% retracement of the most recent swing low.  Also, on my trading platform, I had marked certain pre-market price levels which also occurred in this area.

6.   Price action rose to the daily pivot which was .02 above the 61.8% retracement of the most recent swing high.

7.    Price action then dropped to what was an intermediary daily pivot level.

8.   Rising to your vanilla “old support becomes new resistance” price point which, btw...formed a most beautiful shooting star on the one minute, replete with a crescendo volume spike on which yours truly punted( or is that yours TRULY punted)

you can see, on the Freestockcharts chart that there was some hesitation in the confluence area where the Bear Flag support and confluence of recent swing low retracements interesected.

9.   The WPP and the Quarterly S3 caused some hesitation until the market closed at previous price action support.

Nemo

Sep 28 2011

(Participation in the room in real time requires membership)

Gravity returned with vengeance today. The support of the channel we discussed yesterday got broken:

Not looking good for bulls at all. News however is not in yet, and jury is out on what is going to happen with EU. Speaking of news, don't forget to read this. 


Day was questionable, back and firth - up to last 30 min when major selling hit and we got 60+ cents run on TZA.



Session Time: Wed Sep 28 00:00:00 2011
[08:25] {nemo} reports in 5
[08:32] {nemo} hey Raven, cat got your beak?
[08:34] {Threei}  *(US) AUG DURABLE GOODS ORDERS: -0.1% V -0.2%E
[08:36] {nemo} oops
[08:49] {Raven} {}
[09:09] {z} anyone alive?
[09:09] {Threei}  interesting question
[09:10] {Threei}  I guess answer is middle ground... alive but sleeping
[09:10] {nemo} Vad's stock answer:  "coma"
[09:11] {Threei}  right
[09:13] {patience} good morning
[09:13] {Threei}  patience :)
[09:14] {murex11} gm all
[09:15] {nemo} mmmhhhh...that'll be a tough nick to insult
[09:15] {Threei}  morning murex
[09:15] {Threei}  welcome aboard
[09:16] {murex11} thx
[09:17] {dino} gm a
[09:17] {dino} ll
[09:18] {Threei}  dino :)
[09:18] {larisa} gm :)
[09:18] {Threei}  larisa :)
[09:18] {larisa} vad :)
[09:20] {dino} gaps above 11895, 2312, 1234 and below 11043, 2234, 1162
[09:23] {Threei}  targeting FCX short as first play
[09:25] {Threei}  ideally, if it holds in .50 - .60 range for a min or two, spread tightens, then .50 gets broken
[09:29] {Threei}  need new plan :)
[09:32] {patience} in abx
[09:32] {Threei}  FCX jumps back and forth with enthusiasm of a young antelope
[09:32] {nemo} or somebody with a tabasco enema
[09:33] {Threei}  or antelope with tabasco enema
[09:33] {nemo} never heard of an antelope getting an enema
[09:33] {Threei}  ok, this bounce should be shortyable
[09:34] {Threei}  half lot
[09:34] {Threei} Short Setup: FCX  .40 break
[09:34] {Threei}  invalidated
[09:34] {Threei}  change to .50
[09:34] {Threei}  grrrr... too fats
[09:34] {Threei}  fast
[09:34] {Threei}  see if gives second chance entry
[09:35] {Threei}  yeah right
[09:36] {Threei} Short Setup: LVS  .50 break
[09:36] {Threei}  stop above .60
[09:36] {Threei}  target 1:3
[09:37] {Threei}  crap, FCX
[09:37] {Threei}  1:1 LVS
[09:39] {Threei}  RIMM
[09:39] {Threei}  let's see if double top materializes here
[09:39] {Threei} Short Setup: RIMM  .10 break
[09:40] {Threei}  if stays under .20
[09:40] {Threei}  see that big bid at .09? that was the key
[09:41] {Threei}  market sttrenghtens
[09:42] {Threei}  maybe let;s trail to .16
[09:42] {Threei}  above big offer
[09:42] {Threei}  out
[09:42] {Threei}  good idea
[09:43] {Threei}  FCX again
[09:44] {Threei}  one more leg up probably
[09:44] {Threei}  then should be ready for short
[09:45] {Threei} Short Setup: FCX  .60 break
[09:45] {Threei}  1:1
[09:46] {Threei}  1:2
[09:46] {nemo} too fast
[09:46] {Threei}  not if you had it on the screen
[09:48] {Threei}  1:3, over and out
[09:48] {Threei}  CHK
[09:48] {Threei}  let's see if we can get it long on pullback
[09:49] {Threei}  around .30
[09:49] {Threei} Long Setup:  CHK.30  break
[09:49] {Threei}  if holding .20
[09:50] {nemo} .13 vwap
[09:50] {Threei}  valid but with .15 stop, so adjust size accordingly
[09:51] {Threei}  target closer to .60, two partials
[09:51] {dino}  nice
[09:51] {dino} utica shale results good
[09:52] {Threei}  let's adjust stop to .19
[09:52] {Threei}  don't want to give it too much room
[09:53] {Threei}  mibbit puke?
[09:54] {dino} no
[09:55] {Threei}  3 people lost connection at the same time
[09:55] {Threei}  CHK should have broken by now...
[09:55] {dino} \peculiar
[09:55] {nemo} market looking weak
[09:55] {Threei}  let's adjust stop to .24
[09:56] {Threei}  ok, it's time
[09:57] {Threei}  work or die finally
[09:57] {Threei}  but stop wasting our time
[09:58] {Threei} Long Setup:  FCX  .40 break
[09:59] {Threei}  if stays above .30
[09:59] {Threei}  out CHK
[09:59] {dino} stop chk
[10:01] {Threei}  glad we tightened it
[10:01] {Threei}  this kind of trades should work much faster if they are going to work
[10:01] {Threei}  FCX invalidated
[10:02] {dino} sohu sm l .84
[10:07] {dino} stop sohu -.33
[10:12] {Threei} Long Setup:  FCX  .20 break
[10:12] {Threei}  stop under .10 of course
[10:12] {nemo} .35 is probably the top
[10:13] {Threei}  feels so, yes
[10:13] {Threei}  unless market suddenyl ramsp up
[10:13] {nemo} vwap
[10:14] {dino} sohu sm l .40 ave
[10:14] {Threei} Long Setup:  SLW  .45 break
[10:15] {Threei}  in on pullback
[10:15] {Threei}  stop under .35
[10:15] {thomcbell} very good volume on this GPOR
[10:15] {Threei}  no go
[10:16] {Threei}  market is crapping out
[10:17] {Threei}  EU is disssolving or what
[10:18] {dino} gpor, i think ots a shale play like chk
[10:19] {thomcbell} yes rexx and evep
[10:19] {thomcbell} as well
[10:19] {dino} sohu stopped
[10:24] {Threei}  what's wth timeouts today
[10:24] {Threei}  our server is fine
[10:24] {Threei}  I see no news for this drop
[10:29] {Threei}  matket feels ominous
[10:30] {Threei} Short Setup: FCX  .65 break
[10:31] {Threei}  if stays under .75
[10:31] {Threei}  1:2
[10:32] {nemo} yeah was already gone
[10:39] {Threei} Short Setup: FCX  .40 break
[10:39] {Threei}  if stays under .50
[10:40] {Threei}  invalidated
[10:46] {Threei}  if stays under .50/long tza 48 break
[10:46] {Threei}  aww
[10:46] {Threei}  ok
[10:46] {Threei}  again
[10:46] {Threei}  half lot
[10:46] {Threei}  half out here
[10:46] {Threei}  stop to .95
[10:50] {dino} .
[10:50] {dino} cmi sm l .70
[10:50] {dino} crzo sm l .15
[10:53] {Threei} Short Setup: FCX  .50 break
[10:53] {Threei}  if stays under .60
[10:54] {Threei}  invalidated
[10:57] {Threei}  valid again, same setup
[10:57] {dino} out cmi .25, +.55
[10:58] {Threei}  1:1
[10:58] {dino} nxpi l .90
[11:01] {RonS} sheesh, got the boot and could not get back in until now...
[11:02] {nemo} I thought it was rather enjoyable
[11:02] {dino} lol
[11:02] {Threei}  ewntered wrong passowrd it looks like
[11:02] {Threei}  1:2
[11:02] {Threei}  quite sudden selling
[11:02] {Threei}  no news
[11:03] {RonS} did not enter wrong password 6 times...
[11:04] {Threei}  6 times?
[11:04] {Threei}  you connected only once
[11:04] {Threei}  the rest didn't even get through
[11:04] {Threei}  so must have been timeout
[11:04] {RonS} no kidding...other times locked up on "looking for host"
[11:05] {Threei}  slowdown on some routes today
[11:05] {Threei}  our server is running smoothly
[11:06] {z} been knocked off 2 or 3 times here too, guess mine is a slow route
[11:06] {z} odd though
[11:06] {Threei}  FCX 1:3, out
[11:07] {Threei}  waiting for TZA pullback, feels to me like major selling is still ahead
[11:08] {dino} knocked once today
[11:08] {nemo} spy looking long at the moment
[11:09] {dino} nvda l .70
[11:10] {dino} out crzo .45, +.30
[11:10] {Threei}  dunno about SPY long...
[11:11] {Threei}  BBs look very unsupportive
[11:11] {nemo} no  me neither things were getting positive
[11:11] {nemo} Right here is yesterday low
[11:11] {nemo} my signals are long, but I don't like it
[11:12] {Threei}  bounce, may be
[11:12] {nemo} yeah
[11:12] {Threei}  major reversal, I highly doubt it
[11:12] {nemo} We haven't made a run to VWAP yet, which we should
[11:12] {Threei}  a bit more TZA please
[11:12] {Threei}  half lot
[11:13] {Threei}  closer to 48 - .10
[11:13] {nemo} my signals were right
[11:13] {Threei}  in
[11:14] {Threei}  stop under .90
[11:14] {Threei}  half out
[11:14] {Threei}  stop to .95
[11:14] {dino} nice call nemo
[11:14] {dino} nxpi out .02, +.12
[11:17] {nemo} SPY VWAP/resistance .51
[11:18] {Threei}  ok TZA.. it's time
[11:19] {Threei}  good boy
[11:19] {Threei}  1:3
[11:26] {dino} nxpi l .89
[11:31] {nemo} see the pennant formed by the downward trend on spy, and the top of the channel from Monday?
[11:32] {Threei}  what time frame?
[11:32] {nemo} 5 minute, but it ties into the trend today
[11:33] {dino}  gap action
[11:33] {nemo} channel is right here
[11:33] {nemo} downward trend right about .45
[11:35] {nemo} see it vad?
[11:35] {dino} dpg drop
[11:36] {Threei}  yes
[11:37] {dino} spike
[11:38] {Threei}  no news that I see
[11:42] {Threei}  http://www.facebook.com/photo.php?fbid=266641000037249&set=a.237133656321317.63196.235739863127363&type=1&theater
[11:59] {dino} out nxpi .09, +.20
[12:07] {Threei}  (GR) Private sector participation in Greece debt rollover is said to be close to 90% target - financial press ****Note that similar reports were seen overnight during the European session. Earlier this morning, the Institute of International Finance's (IIF) chief Dallara said that he could not confirm 90% level of participation in Greek debt swap.
[12:18] {Threei}  FCX just can't find floor today
[12:28] {thomcbell} erj what do you think Vad
[12:29] {nemo} you're asking him to think?  wtf...
[12:29] {Threei}  hehe
[12:29] {nemo} go stand in the corner thom
[12:29] {Threei}  probably still has some upside in it
[12:30] {Threei}  pullback to .80 zone I'd sure look to buy
[12:30] {Threei}  breakout, not as willingly but could be
[12:30] {thomcbell} k
[12:46] {Threei}  watch it from here
[12:47] {Threei}  stabilization and regaining strength shoudl be an entry signal
[12:55] {dino}   joyg sm l .52
[12:56] {Threei}  how about that, thomcbell?
[12:56] {Threei}  .80 played out like a fiddle
[12:56] {dino} csh sm l .02 ave
[12:57] {thomcbell} si
[13:00] {dino} siemans?
[13:02] {z} wasn't s&p around 1191 before bernanke announced operation twist?
[13:03] {dino} 11447-11117
[13:05] {Threei}  I think so
[13:05] {Threei}  why?
[13:05] {z} nothing in particular, just was curious what the mkt. has done since they announced that
[13:05] {thomcbell} si meaning yes
[13:05] {z} fallen off sharply, and recovered most of it back
[13:05] {dino} closed 11122
[13:08] {dino} sm l cmi .72
[13:16] {dino} bustin' on ya thom
[13:20] {dino} cmi stop
[13:28] {thomcbell} leave me alone thinking
[13:28] {Threei}  lol
[13:28] {Threei}  new low
[13:29] {Threei}  you guys see that facebook post with chart?
[13:29] {nemo} the one on spy?
[13:29] {Threei}  right
[13:29] {nemo} no
[13:29] {Threei}  hehe
[13:29] {Threei}  old faithful
[13:30] {nemo} figured it had been long enough, I could pull it off
[13:40] {dino} crzo l .95
[13:41] {dino} nvda l .40
[13:42] {Threei}  http://blog.realitytrader.com/2011/09/news-tradeem-or-fadeem.html
[13:49] {dino} stop and stop
[13:51] {Threei}  this slide today happens on no particular newws
[13:52] {Threei}  seems like market runs out of hopium
[13:52] {Threei}  realization slowly emerges that Europe might not be able to resolve this
[14:13] {dino} 2234 and 1162 gaps from yesterday filled
[14:14] {dino} joyg sm l .74
[14:14] {dino} cmi sm l .00
[14:30] {Threei}  TZA
[14:31] {Threei}  .50 break half lot long
[14:31] {nemo} yeah, in .41
[14:31] {Threei}  :)
[14:31] {Threei} Long Setup:  TZA  .50 break half lor
[14:31] {nemo} see that big bid, out if it drops it
[14:31] {nemo} out
[14:32] {nemo} .02 stop...ow
[14:32] {Threei}  lol
[14:32] {nemo} maybe rinse
[14:35] {dino} out joyg .04, +.30
[14:35] {dino} out cmi .77, +.77
[14:36] {Threei}  wtg
[14:36] {Threei}  beautiful tarding
[14:37] {Threei}  trading too
[14:37] {dino} thx, but red day
[14:37] {Threei}  OK, looking for aniother TZA entry
[14:37] {Threei}  in absence of news, today should end in another wave of selling
[14:43] {Threei}  not ready yet but soon
[14:43] {nemo} this is too early for short covering
[14:48] {Threei}  hmmm... .80 level didn't look reliable to me, but we bounced from there...
[14:57] {Threei}  still don't feel it's ready
[14:57] {nemo} actually, think it holds that bear flag support today...no reason to lose it yet
[15:00] {nemo} that was cute
[15:03] {nemo} IWM near WPP
[15:14] {nemo} tza looking intersting here
[15:15] {Threei}  ok
[15:16] {Threei}  gotta try
[15:16] {nemo} should have taken it on that spy volume spike
[15:16] {Threei}  around .40-.50 on pullback
[15:18] {Threei}  had to grab .67
[15:18] {Threei}  no gfriking chance to get anything lower
[15:18] {Threei}  and way too fast to alert
[15:21] {Threei}  come on TZA, give us another chance
[15:21] {nemo} market probabl drops to .10 first
[15:28] {Threei}  getting direction right today, havuing troubkles with exact entries
[15:28] {Threei}  barely positive for the day, nothing to write home about
[15:29] {nemo} you did this last Wednesday
[15:29] {Threei}  there was Wednesday ast week?
[15:29] {Threei}  last
[15:29] {nemo} not sure
[15:31] {Threei}  TNA
[15:31] {Threei}  half lot long 36 break
[15:31] {Threei}  scalp only
[15:32] {Threei}  if stays above .85
[15:34] {Threei}  invalidated
[15:34] {Threei}  TZA .90 break instead
[15:35] {Threei}  half out +.15
[15:35] {Threei}  stop to .85
[15:35] {Threei}  good boy
[15:35] {Threei}  move
[15:36] {Threei}  1/4 more out
[15:36] {Threei}  .22
[15:36] {Threei}  +.21
[15:36] {Threei}  stop to .99
[15:37] {Threei}  +.31 that was
[15:37] {Threei}  out in full
[15:37] {Threei}  +.65
[15:37] {Threei}  whew!
[15:37] {Threei}  day-making trade
[15:38] {Threei}  isn't it ironic - whole day of torture, and one worthy trade on the last minutes
[15:49] {dino}   11043 filled
[15:49] {dino} gj vad, nice call
[15:49] {dino} well another 300+ pt range day
[15:50] {Threei}  ty
[15:51] {Threei}  back and forth, dose of hopium and dose of realism
[15:53] {Threei}  gravity certainly returned with vengeance today
[15:53] {Threei}  ok guys, thank you all, have a good evening
[15:54] {Threei}  see you tomorrow
[15:54] {dino} cya
[15:55] {larisa} bye :)
[15:56] {nemo} that was fun
[15:59] {dino} gn

Sep 27 2011

(Participation in the room in real time requires membership)

Let's start today's log with updates on SPY and swing trade SVM since both put on some meaningful changes today.

Addition: end of day selling, even though (barely) left us within the channel, took a lot of luster off the rally. If I were a bull, I would be alarmed. Shakiness of a rally based on hope for the next fix...

SVM daily - so far so good, not only double bottom support held, but it a stock also demonstrated nice relative strength during big market selloff, and returned into profitable territory above the entry:

As most of gap up and slow climb days, this one wasn't exactly our trading environment. Best trade came when market reversed; wasn't enough to take us back into positive though.


Session Time: Tue Sep 27 00:00:00 2011
[08:46] {Threei}  European shares continued to rally after policy makers in Europe are making more efforts to deal with the crisis in the Eurozone. An option being discussed is the European version of the TARP where a 'bad bank' would be created to buy the toxic sovereign debt. This and other options are being discussed.
[08:49] {Threei}  http://www.facebook.com/RealityTrader/posts/266119143422768
[08:51] {patience} good morning
[08:51] {Threei}  morning patience
[09:05] {Threei}  SVM swing trade plays out nicely so far
[09:08] {nemo}  we just hit daily R2 in the pre market
[09:16] {dino} gm all
[09:17] {RonS} gm...eur futes really whippy...feel like today will be tough
[09:17] {Threei}  dino :)
[09:17] {Threei}  ron :)
[09:17] {Threei}  it's a very shaky rally
[09:18] {Threei}  that's why it's so whippy and jerky,
[09:18] {Threei}  ready to retreat on moment's notice
[09:20] {nemo} it's life by the headline
[09:21] {larisa} gm :)
[09:21] {Threei}  larisa :)
[09:21] {larisa} vad :)
[09:21] {Threei}  I don't have clear opening trade
[09:21] {nemo} probably better anyway
[09:21] {Threei}  let's wait out first mniutes
[09:22] {dino} markets remind me of : pins and needles, needles and pins, the happy man is the man that grins (honeymooners)
[09:25] {Threei}  :)
[09:26] {Threei}  FCX begs to be shorted
[09:26] {Threei}  so does SLW
[09:26] {Threei}  if we are lucky they will give clean setup
[09:27] {thomcbell} decent volume on fcx for pre-open though
[09:28] {dino} mind the gaps, 11122, 2258, 1166
[09:31] {Threei} Short Setup: FCX  .90 brewak
[09:31] {Threei}  haklf lot
[09:31] {dino} filled
[09:32] {Threei}  invalidated but remains on radar
[09:32] {Threei} Short Setup: FCX  .20 break
[09:32] {Threei}  stop above .30
[09:32] {Threei}  1:2
[09:33] {ese} gm
[09:33] {nemo} right
[09:33] {Threei}  ese :)
[09:33] {Threei}  SLW
[09:33] {Threei}  sharp spike
[09:33] {Threei}  looking for short entry
[09:34] {Threei} Short Setup: FCX  36 break
[09:34] {Threei}  half lot again
[09:34] {nemo} so fast
[09:35] {Threei}  and 1:1 again
[09:35] {z} couldn't catch that one
[09:35] {Threei}  if you are not getting filled, do not chase
[09:35] {Threei}  just let them go
[09:35] {Threei}  and whatever you do, NO MARKET ORDERS
[09:35] {Threei}  FCX horrible death
[09:35] {Threei}  looks at this
[09:36] {nemo} wow...wag
[09:37] {Threei}  SLW, never gave entry
[09:41] {ese} Lftk .46
[09:42] {dino} csh sm l .53
[09:42] {Threei} Long Setup:  FCX  .50 break
[09:42] {Threei}  half lot still
[09:42] {Threei}  if stays above .35
[09:43] {Threei}  invalidated
[09:43] {Threei} Long Setup:  SLW  .65 break
[09:43] {Threei}  change to .60 break
[09:43] {Threei}  if holding .50
[09:44] {thomcbell} excellent fcx
[09:44] {ese} out ftk .46
[09:44] {thomcbell} flat here
[09:44] {ese} even
[09:44] {ese} hmmmmmmmmmm
[09:44] {Threei}  invalidated
[09:44] {ese} feelin out of sync again
[09:46] {Threei} Long Setup:  RIMM  .80 break
[09:47] {Threei}  if stays above .80 if course
[09:47] {nemo} ?
[09:47] {Threei}  .70
[09:47] {Threei}  SLW guves no chance today
[09:47] {Threei}  look at this jump
[09:49] {Threei}  RIMM hammer
[09:49] {nemo} resistance at .95
[09:49] {Threei}  not 22?
[09:49] {Threei}  to me 22 loks more significant
[09:51] {ese} boy am I outta sync....ftk gave me what i wanted....daaaaaaaaaa!!!!!
[09:52] {dino} meli sm l .70 ave
[09:52] {ese} well......on the good side.....I met the Governor General of Canada yesterday......my pop choir got a standing ovation at city hall Vad......
[09:52] {Threei}  cool :)
[09:52] {ese} very nice man
[09:53] {ese} wanted to tell him to put in a good for us with the queen but didn't have the nerve
[09:53] {ese} word
[09:53] {Threei}  hehe
[09:53] {Threei}  SLW, we got the direction correct twice, and haven't found an entry in either case
[09:54] {nemo} numbers coming
[09:55] {Threei}  consumer confidence and richmond fed
[09:55] {Threei}  let's sell half RIMM here
[09:55] {Threei}  to cut risk down
[09:55] {Threei}  was 1 cent from 1:1
[09:56] {dino} out meli .05, +.35
[09:56] {Threei}  and trail stop to .74 for another half
[09:56] {dino} out csh .18, +.65
[09:57] {Threei}  wtg
[09:57] {Threei}  (GE) Eleven MPs from the German ruling coalition (CDU/FDP) are said to vote against EFSF, two abstain in test vote ahead of official vote on Thurs. Sept 29th - financial press
[09:57] {Threei}  **Reminder: On Sept 6th financial press report of a test vote indicated 12 dissenters in the CDU with 7 abstentions. with another 2 dissenters in her FDP ally.
[09:57] {Threei}  - Chancellor Merkel would require opposition for majority if 21 lawmakers vote no/abstain.
[09:57] {dino} thx
[09:59] {Threei}  *(US) SEPT RICHMOND FED MANUFACTURING INDEX: -6 V -11E
[10:00] {Threei}  *(US) SEPT CONSUMER CONFIDENCE: 45.4 V 46.0E
[10:01] {Threei} Short Setup: X  .40 break
[10:01] {Threei}  half lot
[10:02] {Threei}  stop above .50
[10:02] {thomcbell} amzn horrible action
[10:03] {Threei}  1:1
[10:04] {Threei}  out RIMM
[10:04] {Threei}  X 1:2, out
[10:05] {dino} 07 red
[10:05] {dino} gj
[10:05] {Threei}  good risk management on RIMM
[10:05] {Threei}  +.03 and -.07 oin what would have turned a full stop
[10:09] {Threei} Short Setup: X  .40 break
[10:09] {Threei}  deja vu
[10:11] {Threei}  stop above .50
[10:13] {Threei}  no go
[10:15] {Threei}  (GE) Germany Chancellor Merkel said to have informed party members that a Greece default cannot be ruled out - financial press
[10:15] {Threei}  see this spike down SPY?
[10:15] {Threei}  market is totally "headline to headline"
[10:19] {ese} agreed
[10:20] {Threei} Short Setup: SLW  34 break
[10:20] {ese} L nuan .70
[10:20] {Threei}  if stays under .10
[10:20] {ese} blast from the past
[10:20] {Threei}  target 1:3
[10:21] {Threei}  wow, really... haven't heard this name in a while
[10:21] {dino} neog sm l .83
[10:23] {Threei}  no wprky SLW
[10:23] {ese} well done on csh by the way dino
[10:23] {nemo} rimm
[10:24] {Threei}  RIMM Hearing vague chatter that Icahn may be building a stake
[10:24] {Threei}  no way
[10:24] {ese} like that....no waperky
[10:25] {dino} thx ese
[10:25] {Threei}  IMO RIMM is short
[10:25] {Threei}  but entry is tough
[10:25] {Threei}  very hectic trading
[10:26] {Threei}  this is bogus rumor
[10:27] {ese} interesting rumor
[10:28] {thomcbell} he was involved on MOT for a while
[10:29] {ese} lets go nuan.........me thinks you have 21 in ya
[10:31] {Threei} Long Setup:  FCX  .55
[10:31] {Threei}  if stays above .45
[10:32] {Threei}  RIMM looks exhausted
[10:32] {Threei}  but still too jumpy for my taste
[10:33] {nemo} vwap .66 for fcx
[10:34] {Threei}  my target is .95, 3 partials
[10:36] {Threei}  FCX, are you blind? look at SPY
[10:36] {dino} out neog .15, +.32
[10:36] {Threei}  huh.. no worky
[10:36] {ese} out 1/2 nuan .80 +.10
[10:36] {Threei}  not delighted... 3 in a row
[10:37] {Threei}  backing off a bit
[10:46] {ese} out in full nuan .88 +.18
[10:46] {Threei}  nice
[10:47] {ese} no sense in getting greedy now
[10:47] {Threei}  FCX rinsed us
[10:47] {Threei}  not nice of it
[10:48] {nemo} we might get a move here, subtle uptick in spy volume since 10:35
[10:54] {dino} gj ese
[10:54] {dino} aeh spike
[10:57] {Threei}  grrr
[10:57] {Threei}  hate rinses
[10:59] {ese} tks
[10:59] {nemo} .50 area next tarkegt for spy
[11:00] {dino} neog sm l .17
[11:00] {Threei}  and here is FCX, proceeding to my 1:4 target
[11:00] {nemo} yeah, went with spy
[11:00] {Threei}  someone shoot me
[11:01] {swill} I'll take the market out back and shoot it
[11:01] {Threei}  even better
[11:02] {Threei}  nemo must be losing his touch...
[11:02] {Threei}  I suggest to sholot me, and he doesn't pull the trigger and reload that very second?
[11:02] {nemo} you've asked so many times
[11:02] {Threei}  we might be seeing wat no one ever thought we would: kinder gentlier nemo
[11:03] {nemo} bored nemo
[11:03] {nemo} it's rabbit time!!!!
[11:03] {nemo} kicking myself for not taking tna when I alerted the spyvolume
[11:04] {nemo} I think 121 area possible today in spy
[11:04] {ese} huh!!!!!!  kinder gentler.......sheesh
[11:04] {Threei}  hard to imagine eh?
[11:05] {ese} daaaaaaaaa  and just as i say that the blast from the past makes a run at 21....sucre blu......
[11:06] {ese} why I otta.........
[11:06] {dino} neog stop ..87 -.30
[11:06] {swill} It's always darkest before pitch black, then the light
[11:08] {ese} speaking of blast from the past.......would that handle be middle ages swill.......or Roman swill.......or even viking swill........hmmmmmmmm   got me thinkin
[11:08] {Threei}  ese, before you go too far on this dubious road and hurt yourself - you do remember that thinking is harmful and actually strictly fdorbidden here?
[11:09] {swill} lol
[11:09] {ese} ahhhhhhhh........ya your right boss......it won't happen again
[11:09] {Threei}  I mean, no matter how soft nemo could have gine on us, thinking is something that he will punish as sure as feed his rabbit
[11:10] {dino} somebody slap him
[11:11] {nemo} did I tell ya' bunny bit me yesterday...thought we were playing, guess she thought otherwise.  Those are 4 big teeth
[11:12] {ese} but wait a minute..........nemo thinks all the time.....thats not fair........"wahhhhhhh!!!!....whine complain wahhhhhhh!11
[11:12] {ese} ok....thats my temper tantrum for the day
[11:12] {ese} i'm good
[11:12] {Threei}  lol
[11:13] {Threei}  AAPL... iPHone 4 is coming next week
[11:13] {nemo} not true...I think outside the trading day...I've just been reporting on what I see
[11:13] {Threei}  fnally
[11:13] {Threei}  I ignored 1, 2 and 3 - now I finaly get to ignore 4
[11:14] {RonS} am waiting for the iphone10...
[11:14] {ese} lol
[11:14] {ese} eggzactilly
[11:15] {ese} thats supose to be the one with the Star Trek teleporter built in isn't it?
[11:15] {RonS} or until the blackberry changes to the raspberry...hum...may have already happened...
[11:15] {Threei}  and bottle opener
[11:16] {nemo} dingleberry
[11:16] {Threei}  RIMM
[11:16] {Threei}  MUST BE TIME TO SHORT
[11:16] {Threei}  23 BREAK
[11:16] {ese} you point it at yourself and your instantly transported trough the telephones to whomever your talking too i believe
[11:16] {Threei}  sorry caps
[11:16] {RonS} for the amish...lingenberry...
[11:16] {ese} lol
[11:16] {Threei}  in
[11:17] {Threei}  target 1:4
[11:17] {nemo} stop?
[11:17] {Threei}  .10 or .15
[11:17] {Threei}  both are valid
[11:17] {nemo} vwap .65
[11:17] {Threei}  no more games RIMM, just roll over and die
[11:20] {ese} how dare you say that vad.....it's a canadian company....it has rights
[11:21] {Threei}  it has right to drop....
[11:21] {Threei}  especiaally when I am short
[11:21] {ese} definitely
[11:21] {nemo} yeah, a right to euthanasia
[11:21] {RonS} ya, like the right to go out of business...
[11:21] {ese} more definitely
[11:21] {ese} ya ya.....thats it
[11:21] {nemo} I think this Icahn thing holds it up most of the day
[11:21] {Threei}  and I'd greatly appreciate it exercising this right
[11:22] {nemo} I thik it drops .98 here might have a chance
[11:22] {Threei}  I just don't bwelieve that Icahn thing
[11:22] {nemo} me neither but "news" is what is moving the market
[11:23] {nemo} you're thinking Vad
[11:23] {Threei}  (GE) Germany Econ Min Roesler reiterates that a leveraging of the EFSF is not an option
[11:23] {Threei}  I am lost
[11:24] {nemo} btw, spy bounce at .72 area reasonable
[11:24] {Threei}  if germaany doesn't leverage EFSF, doesn't it mean EFSF is dead?
[11:25] {Threei}  (HU) Moody's comments on Hungary Govt change to mortgage contracts; feels a dangerous precedent has been set
[11:26] {nemo} we should hear about a Eurobond soon
[11:26] {RonS} out rimm
[11:29] {ese} am outta here.....catch you all tomorrow
[11:30] {Threei}  take care ese
[11:32] {nemo} http://www.dailymail.co.uk/sciencetech/article-2042428/Earth-cross-hairs-huge-solar-storm-caused-sunspot-1302.html
[11:33] {dino} cya ese
[11:37] {RonS} hmmm. dax closed just shy of +5%
[11:38] {dino} sm l .54 neog
[11:38] {Threei}  OK, today is officially not my day
[11:39] {Threei}  second rinse in a row
[11:50] {nemo} tna could be a play with spy moving above .75
[11:51] {nemo} iwm holding well
[11:51] {nemo} spy at vwap btw
[11:54] {nemo} in .08
[11:54] {Threei}  RIMM does FCX... proceeds toward the target, after shaking us out
[11:54] {nemo} 1/2 .25
[11:54] {nemo} stop to b/e
[11:56] {nemo} might add back spy above .85
[11:57] {nemo} damn stuck edgx quotes...why does that happen with them alone
[11:57] {nemo} 1/2 out again .38
[11:58] {nemo} stop .14
[11:58] {Threei}  nice
[11:58] {nemo} ty
[11:59] {nemo} spy was at vwap and the morning trendline, not to mention just above R2, figured those were supports
[11:59] {nemo} took the other half the second here
[12:00] {nemo} I'll have to record that T&S pattern between spy and IWM/TNA...I see that regularly
[12:01] {nemo} they both bid up to a level, then sell down.  spy bids back up to the level but IWM does not.  Spy then sells down again.  The third time spy rebids the level and then breaks, it goes
[12:02] {nemo} IWM actually lead the spy break but spy is moving up
[12:04] {nemo} might take a 1/2 lot more if spy get's .05
[12:05] {nemo} stop under .20 now
[12:06] {nemo} having said that, spy has trend support at .85
[12:07] {nemo} added .41
[12:07] {nemo} half lot
[12:08] {nemo} eh. out that .43 don't like the resistance at .50
[12:08] {nemo} probably wussed
[12:08] {nemo} yep
[12:08] {nemo} but, was trying to anticipate momo
[12:08] {Threei}  well played anyway
[12:09] {nemo} ty
[12:09] {nemo} still might work, I'm just not a good momo player
[12:09] {nemo} wuss wuss wuss wuss wuss wuss wuss
[12:11] {Threei}  hmmm... think it was a little on a wussy side?
[12:11] {dino}  lol
[12:11] {nemo} yeah, but I still have half the original, I just got out of the re buy
[12:11] {nemo} small consolation, I know
[12:12] {nemo} the emotional damage to my self esteem for being a wuss, is greater than the financial reward....sniff
[12:12] {nemo} I'll take it here .74
[12:13] {nemo} I think spy goes to .65 anyway, but, as we said, I'm a wuss
[12:24] {nemo} spy forming C&H
[12:24] {nemo} or DT
[12:24] {nemo} TT
[12:25] {nemo} having said that .72 is vwap and .50% july 10 retracement support with trendline at .95
[12:29] {Threei}  total puzzle to me:
[12:29] {Threei}  Royal Bank of Canada SEC said to sue over the sale of unsuitable CDO investments to Wisconsin school districts - financial press- RBC to pay approx $30M to settle the suit. ***Reminder: On Aug 10th, there were press reports that RBC was facing a SEC probe in relation to sales of derivatives to school districts in Wisconsin
[12:29] {Threei}  how on earth someone could sell to them what they didn't need or want?
[12:29] {dino} by lieing to them
[12:30] {dino} speling
[12:30] {dino} spelling, sheesh
[12:30] {Threei}  hehe
[12:31] {Threei}  so it's a case of misrepresentation? then yes, I understand it
[12:31] {Threei}  but on the surface, it sounds to me like another one of those cases where willing buyer gets bruned, then goes ahead and sues a seller
[12:33] {nemo} mmmhhhh...US exchanges want tighter circuit breakers...now why would that be...down elevator anybody...
[12:34] {Threei}  as if those curcuit breakers help halt the decline
[12:35] {Threei}  hmmm... this selling feels like news-caused but I see none
[12:37] {nemo} triple top, just bounced at vwap, still technical
[12:42] {Threei}  TZA
[12:42] {Threei}  44 break
[12:43] {Threei}  after some consolidation
[12:43] {Threei}  with target .45
[12:45] {nemo} major spy support .62 area
[12:49] {Threei}  becomes inetersting as a bounce
[12:51] {Threei}  .65 break
[12:51] {Threei}  if stays abive .50
[12:53] {Threei}  invalidated
[13:01] {Threei} Long Setup:  TZA  .50 break
[13:01] {Threei}  if stays above .35
[13:01] {nemo} wow
[13:01] {Threei}  in on pullback
[13:02] {Threei}  *(US) TREASURY'S $35B 2-YEAR NOTE AUCTION DRAWS: 0.249%; BID-TO-COVER RATIO: 3.76 V 3.44 PRIOR AND 3.33 AVG OVER LAST 10 AUCTIONS- 19.45% allotted at the high - Indirect bidders take 36.75% of competitive bids, direct bidders take 12.16%, primary dealers take 51.1%.
[13:03] {Threei}  (IT) S&P lowers unsolicited long-term ratings of eleven Italian local and regional governments to A from A+- Standard & Poor's lowered its long-term issuer credit ratings on the 11 Italian local and regional governments (LRGs) listed below to 'A' from 'A+'. The outlooks on the long-term ratings on these LRGs remain negative.
[13:06] {Threei}  I need 25 cents coin, to go to a public phone and try to trade it for a phone call. I am sure I won't be successful today
[13:10] {dino}  out neog .30, +.76
[13:10] {Threei}  wtg
[13:10] {dino} ty
[13:11] {Threei}  if you completely ignored me today and followed nemo and dino, you made the best possible trade today
[13:11] {dino} everybody has those days
[13:12] {Threei}  today you two are a windshiled
[13:13] {dino} and you are the bug
[13:13] {Threei}  that's what I meant :)
[13:14] {nemo} and what's the last thing that goes through a bug's mind when it hits the windshield?
[13:14] {dino} hey, how about my friday +300 call for monday
[13:14] {Threei}  look at me comment yesterday eod:
[13:14] {Threei}  15:34] {Threei} oh, nd dino was correct about today
[13:14] {Threei}  [15:35] {Threei} good read on his part
[13:15] {dino} ahh, missed that mibbet booted around 2:00
[13:16] {dino} it will most likely stop, but markets are trading to gaps regularly
[13:17] {Threei}  yeah, yesterdfay was a connection hell
[13:17] {Threei}  just wanted you to know, the read was noticed and acknowldeged
[13:18] {dino} and today we leave gaps below, so....give or take within 7 days we most likely fill them
[13:18] {Threei}  under one condition
[13:18] {dino} yes?
[13:18] {Threei}  that the news flow doesn't throw any technical read under the bus
[13:18] {dino} well, the news is what is creating, then filling gaps
[13:19] {Threei}  they put 2T kindle in the market fire, we rally like in 1998
[13:19] {Threei}  they say no more bailouts, we drop like in 2001
[13:20] {Threei}  it's an unusual times, in that the news from EU is genuine news, not foreseen and discounted by the market
[13:20] {Threei}  market pretty much guesses at this point,
[13:20] {Threei}  and rallies in hope
[13:20] {Threei}  or denial
[13:20] {dino} agree
[13:21] {Threei}  kind of "they just won't let it all fall apart"
[13:21] {Threei}  but the reality is, it is possible
[13:21] {Threei}  simply because sovereign states may not be able to overcome the resistance from within
[13:23] {dino} my gut, the 2t is approved. but not willing to bet on it
[13:23] {Threei}  (US) Fed's Fisher: Benefits of operation twist do not outweigh its costs; doubtful current Fed policy will help hiring
[13:23] {Threei}  - Supportive of the Fed's decision to reinvest MBS proceeds
[13:23] {Threei}  - Claims there are limits on Fed policy until the fiscal policy has been fixed
[13:23] {Threei}  - Reminder: Fisher was among the dissenters at the FOMC meeting
[13:23] {Threei}  really?
[13:23] {Threei}  I dunno...
[13:24] {Threei}  I have hard time seeing how they can push it through
[13:24] {Threei}  unless they manage to mask it under some verey very fancy names long enough to full the oi poloi
[13:24] {Threei}  which these days is not very long
[13:24] {Threei}  couole days and everyone knows what's behind the fancy terms
[13:25] {Threei}  to full = to fool
[13:25] {dino} just a gut feel, lots of outside pressure on them
[13:25] {Threei}  but the elections are decided fro inside :)
[13:25] {Threei}  they are elected politians, not figureheads designated by EU
[13:27] {Threei}  if I were a head of sovereign state up to reelection, and my viters overwhelmkngly said no to bailout, wiould I sign up for it?
[13:27] {dino} no, you and i would not, but politicians will, imo
[13:28] {Threei}  why
[13:28] {Threei}  they have no sense of self-preservation?
[13:28] {Threei}  I think it's the only sense they have, lol
[13:28] {dino} it is not their money, thats why
[13:28] {Threei}  but they'll be thrown out come next election
[13:29] {Threei}  isn't it the only thing that matters to them?
[13:29] {dino} no they will say they saved the system
[13:29] {Threei}  well... good luck to them with that explanation... :)
[13:30] {Threei}  I think german voter will read it as:
[13:30] {Threei}  we saved another state with your money
[13:30] {Threei}  greek voter will read it as:
[13:30] {Threei}  we sold you in slavery
[13:30] {Threei}  and of course french voter will read it as "no pasrty and free sex today"
[13:31] {dino} but, if the system is "saved" for now, the year, then they get re-elected. that is their bet, imo
[13:31] {Threei}  yeah, I can see how they may count on that
[13:31] {Threei}  I just doubt it will work
[13:32] {dino} they believe in the "salvation thru inflation" theory
[13:32] {dino} right or wrong, that is the game being played
[13:33] {Threei}  TZA
[13:33] {Threei}  that's thrid rinse'
[13:41] {nemo} that spy iwm plunge held trendlines, think we might be going higher
[13:46] {dino} dmnd?
[13:46] {Threei}  no fresh news
[13:48] {dino} sm l .03
[13:48] {dino} stop -.29
[13:50] {dino} wtf rinsed.
[13:54] {Threei}  there is a good reason I hate these gap-up+slow-climb days
[13:55] {dino} me too usually, but today is ok
[13:58] {RonS} cause for dmnd pressure:  http://tinyurl.com/3wruxya
[14:03] {dino} thx ron.
[14:03] {dino} gap filled on it
[14:04] {dino} sm l .55
[14:08] {thomcbell} new highs all around - indexes
[14:08] {thomcbell} spy qqq iwm
[14:08] {thomcbell} iyt
[14:09] {nemo} this strength going to .50 makes me thing 121.20 is more than possible today
[14:10] {nemo} that would be the 50 SMA and the Monthly Pivot with Quarterly S2 around 121
[14:13] {RonS} eur, copper launching
[14:13] {dino} out dmnd .29 ave, +.74
[14:13] {dino} too soon
[14:15] {dino} ohhh mannnn (swiper voice)
[14:17] {RonS} copper reversed hard
[14:18] {RonS} testing lod
[14:20] {dino} ugh dmnd
[14:25] {nemo} so far .55 area holding
[14:50] {Threei}  ok... I must try this again
[14:50] {Threei} Short Setup: RIMM  23 break
[14:54] {Threei}  invalidated
[14:55] {Threei}  jf says hello
[14:55] {Threei}  and ends with:
[14:55] {Threei}  ILL BE BACK!!!
[14:55] {Threei}  p s tell nemo not to give up his day job!!!
[14:55] {nemo} hehehehehehe
[14:56] {Threei}  aggressive RIMM
[14:56] {Threei}  a.10 break
[14:58] {dino}   lol
[14:58] {nemo} spy should bounce by .85
[15:05] {nemo} iwm vwap .55, spy support .65
[15:06] {Threei}  covering half RIMM
[15:06] {Threei}  xcan you believe it... I won one
[15:06] {Threei}  1:2
[15:07] {Threei}  1/4 more out
[15:07] {dino} news?
[15:07] {dino} 07 red
[15:07] {Threei}  nope
[15:07] {Threei}  this takes the edge off a little
[15:08] {Threei}  still negative for the day but at least not as strong feeling of "can I get anything right today?"
[15:11] {dino} you'll be bnack tomorrow
[15:11] {dino} back
[15:14] {Threei}  1:3
[15:14] {Threei}  I am out
[15:14] {Threei}  that aggressive entry was the right idea
[15:26] {dino} calling it a day, thx all
[15:27] {Threei}  take care dino, great job today
[15:27] {dino} ;)
[15:28] {Threei}  wow
[15:28] {Threei}  a lot of selling pressure
[15:38] {Threei}  http://www.facebook.com/photo.php?v=139235692842048
[15:40] {Threei}  if you don't see it, video will be posted on trading log, together with SVM update
[15:41] {Threei}  this eod selloff takes plenty of lustre off this rally
[15:42] {Threei}  not all of it, but it has to be alarming for the bulls
[15:50] {Threei}  2.5 dollars SPY selling
[15:51] {Threei}  wow
[15:58] {Threei}  saved by the bell
[15:59] {Threei}  30 min more of this, and whole thing could have been erased, lol
[15:59] {Threei}  thank you all, have a good evening
[15:59] {Threei}  see you tomorrow
[16:00] {larisa} bye :)

Sep 26 2011

(Participation in the room in real time requires membership)

I must have sinned way beyond the usual this weekend - otherwise I see no explanation for the tech hell today. Our server got cut off of the external world by ISP, and they just couldn't pinpoint the problem for the most part of the day. A working window we got lasted about 2 hours, and we got 4 winning trades out of 5 calls. I'd say, as good as it gets, considering. 


Session Time: Sat Sep 24 00:00:00 2011
Session Time: Sun Sep 25 00:00:00 2011
Session Time: Mon Sep 26 00:00:00 2011
Session Close: Mon Sep 26 07:15:19 2011

Session Start: Mon Sep 26 07:15:19 2011
Session Ident: #discussions
02[07:15] * Disconnected
02[07:17] * Attempting to rejoin channel #discussions
03[07:17] * Rejoined channel #discussions
Session Close: Mon Sep 26 08:52:36 2011

Session Start: Mon Sep 26 08:52:36 2011
Session Ident: #discussions
02[08:52] * Disconnected
02[11:05] * Attempting to rejoin channel #discussions
03[11:05] * Rejoined channel #discussions
[11:06] {nemo} TESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTESTTEST
[11:06] {z} lol
[11:07] {Threei}  nemo, shut up please, I have enough grief today without you :)
[11:09] {RonS} ok, who's on first?
[11:10] {nemo} Abbot
[11:10] {Threei}  let's hope we are stable
[11:10] {RonS} never have been...
[11:10] {nemo} system-wise or psychologically
[11:11] {RonS} personally
[11:11] {nemo} ecumenically
[11:11] {RonS} lol
[11:14] {dino} .
[11:14] {Threei}  morning dino
[11:14] {dino} :)
[11:20] {dino} took csh 54.24 earlier, getting out soon
[11:20] {dino} 51.24
[11:20] {dino} also in nvda .45
[11:21] {Threei}  OK... seems everything's fixed... starting to look at the frikin market
[11:27] {Threei} Short Setup: FCX  .15 break half lot
[11:28] {patience} good morning
[11:28] {Threei}  mornig patience
[11:29] {Threei}  stop above .25
[11:30] {Threei} Short Setup: SLW  .50 break
[11:30] {Threei}  if stasys under .60
[11:31] {Threei}  FCX target is 1:3, 2 partials
[11:31] {Threei}  SLW target 1:3, 3 partials
[11:32] {Threei}  FCX 1:1
[11:33] {Threei}  half out .03
[11:33] {Threei}  SLW 1:1
[11:33] {dino}  gj
[11:33] {Threei}  ty
[11:34] {dino} out csh .11, +.86
[11:34] {Threei}  wtg
[11:34] {dino} ty
[11:35] {dino} meli sm l ave .01
[11:40] {dino} cyou sm l .94
[11:42] {Threei} Long Setup:  SLW  .55 break
[11:42] {Threei}  if stays above .50
[11:43] {Threei}  extremely right stop, but not a scalping target
[11:43] {Threei}  if works, aiming for about .75
[11:43] {Threei}  with 3 partials
[11:43] {Threei}  right = tight
[11:45] {Threei}  first partial out around .63 - .65
[11:46] {dino} out meli .24 ave +1.23
[11:46] {Threei}  no go
[11:48] {Threei}  watching FCX for a bounce
[11:49] {Threei} Long Setup:  FCX  .50 break
[11:50] {Threei}  if stays above .40
[11:51] {Threei}  invalidated
[11:51] {dino} sina smr l .55
[11:51] {Threei}  remains on watch though
[11:51] {Threei}  from under .30 most likely
[11:52] {Threei} Long Setup:  FCX  .30 break
[11:53] {Threei}  half out
[11:53] {Threei}  scalpers get out
[11:54] {Threei}  stop to .29
[11:54] {dino} stop sina .21, -.34
[11:54] {Threei}  1:2
[11:54] {Threei}  out in full
[11:54] {Threei}  easy money
[11:54] {Threei}  3 out of 4 so far
[11:55] {dino} f'ng rinse
[11:55] {Threei}  with one 7 cents stop
[12:00] {Threei}  over 1:3... without me though
[12:00] {Threei}  didn't feel like I could push it farther
[12:00] {Threei}  this whole morning with server troubles is a bit unnerving... :)
[12:03] {Threei}  the degree of confusion in the statement below...
[12:03] {Threei}  (EU) ECB's Weidmann: Sees heightened risk that the markets are hurting the real economy, euro zone requires fundamental reforms
[12:03] {Threei}  - Seeing increased risk that the euro zone economy is facing a soft patch over the winter months.
[12:03] {Threei}  - The euro zone's no bailout clause is indispensible for sound finances
[12:03] {dino} out cyou .60, +.66
[12:03] {Threei}  killing it today dino
[12:03] {dino} lucky
[12:03] {Threei}  sure
[12:04] {Threei}  I wonder what % of earth population would be happy to exchange half of their brain for 10% of your luck,
[12:04] {Threei}  and most imprtantly, would significantly benefit from such exchange :)
[12:06] {dino} lol
[12:14] {Threei} Long Setup:  RIMM  .20 break
[12:14] {Threei}  either full lot with stop under .15, or half lot .10
[12:15] {nemo} looking for spy bounce around .40
[12:23] {Threei}  half out RIMM
[12:26] {Threei}  out second half
[12:26] {Threei}  not liking the mareket here
[12:28] {nemo} db on spy and iwm
[12:40] {Threei}  can't tell what's next at the moment
[12:40] {Threei}  waiting for something to become morfe clear
[12:43] {dino}  well, if my friday call holds, another 160 pts up
[12:45] {Threei}  (GE) Germany Fin Min Schaeble: There are no plans to increase the size of the rescue fund
[12:45] {Threei}  watch market addicted to bailouts dropping on this
[12:46] {dino} dropped 40
[12:49] {nemo} tna probably long here
[12:49] {nemo} iwm pivot .92, spy vwap .15, likely a turn in this area
[12:49] {Threei}  hmmm
[12:49] {Threei}  I'll stay away from that
[12:50] {Threei}  I see what you mean from tech point of view
[12:50] {nemo} yeah, this would be the place to look
[12:50] {Threei}  but my gut says, it won't matter much
[12:51] {nemo} this is also a price level I have marked (premarket high) for spy
[12:52] {nemo} spy ist trying to set up
[13:00] {dino} gpor sm l .52 ave
[13:09] {Threei} Short Setup: FCX  .90 break
[13:09] {Threei}  if stays under 33
[13:09] {Threei}  invalidated
[13:15] {Threei}  33 itself was a short
[13:21] {dino} csh l .76
[13:21] {dino} sm
[13:23] {dino} sina smr l .76
[13:27] {dino} sina stop -.36
[13:28] {dino} meli sm l .00
Session Close: Mon Sep 26 13:47:14 2011

Session Start: Mon Sep 26 13:47:14 2011
Session Ident: #discussions
02[13:47] * Disconnected
02[15:20] * Attempting to rejoin channel #discussions
03[15:20] * Rejoined channel #discussions
[15:21] {nemo} helloooooo
[15:21] {Threei}  sigh
[15:21] {Threei}  can't believe this
[15:21] {nemo} what a cluster f^^k
[15:21] {nemo} communist plot
[15:23] {Threei}  I don't remember this happening, ever
[15:23] {Threei}  10-15 min problem, once every two years probabky
[15:23] {nemo} not to this extent, but it has happened a couple of times
[15:23] {Threei}  but whole day off, jeez
[15:24] {z} no worries, a penny saved is a penny earned
[15:24] {Threei}  and guess what, this is not our server
[15:24] {nemo} not during inflation
[15:24] {Threei}  it's ISP, some problem between server and NA
[15:25] {z} anywho, doesn't matter to me we made some this morning, can't always control technology
[15:26] {Threei}  true
[15:26] {Threei}  thanks for understanding
[15:26] {Threei}  the thing is extremely rare, and absolutely out of my control
[15:27] {z} not your problem at all vad, u could not call another trade, and we would have finished the day in the green
[15:27] {Threei}  all I can do is to launch alternative temporary room
[15:27] {Threei}  which will be much more limited in functionality
[15:27] {nemo} yeah...no trouting
[15:27] {Threei}  but if nothing better happens, will surely do that
[15:28] {Threei}  lol
[15:28] {z} probably be fine for another 2 yrs. now :)
[15:28] {Threei}  I really hope
[15:28] {Threei}  server admin was flabbergasted
[15:28] {Threei}  I bombard him with requests to fix it,
[15:29] {Threei}  and he see absolutely nothing wrong with server
[15:29] {Threei}  no connection requests coming in
[15:29] {z} lol
[15:29] {Threei}  so he asks "are you guys sure you are even trying to connect??"
[15:29] {Threei}  you don't want to know what I answered :)
[15:29] {z} he was probably screwing with you because you bombarded him 8)
[15:29] {Threei}  no
[15:30] {Threei}  he sees server which runs fine,
[15:30] {Threei}  logs show no errors
[15:30] {Threei}  since it's not server,
[15:30] {Threei}  it's ISP that doesn't let signal from NA through
[15:30] {z} must be human error?
[15:30] {z} :)
[15:30] {Threei}  so on his side it loos like no connection requests
[15:30] {z} i c
[15:34] {z} interesting day, i'm not making anymore trades in this afternoon, so will just watch for entertainment purposes:)
[15:34] {Threei}  my best guess is, down a bit toward the end of day, but nothing dramatic
[15:34] {Threei}  oh, nd dino was correct about today
[15:35] {Threei}  good read on his part
[15:35] {nemo} trend line at .20 with price support at .00
[15:35] {nemo} .34 is R2 support on the daily
[15:47] {Threei}  slowly climbing
[15:47] {nemo} top of channel at 116.20 might close gap from Thursday
[15:57] {swill} interseting day.  Thank youl
[15:58] {z} cya later
[15:58] {Threei}  take care guys
[15:58] {Threei}  sorry about all the tech crap
[15:59] {nemo} oy vay
[15:59] {swill} happens to the best of us
[15:59] {Threei}  what now?
[15:59] {Threei}  oh
[15:59] {Threei}  lol