Feb 22 2012

Another very strong day with a lot of good trades.Got a trade with perfect illustration of different types of entry. Worked like charm no matter which one you'd take, with aggressive being my personal preference. Article describing them is available at http://blog.realitytrader.com/2007/07/how-aggressive-are-you.html

Now, later in the day we had one more trade very interesting from the point of view of a trade management: partial entries with multiple scenarios, to account for the uncertainty of the moment. Please read the chat starting from 14:47 and monitor TZA chart for the development.

Session Time: Wed Feb 22 00:00:00 2012

[09:01] {MigC}  good morning

[09:02] {Threei}  morning Migc

[09:02] {cipher} gm

[09:04] {Threei}  cipher :)

[09:12] {stewy} gd morning all

[09:12] {Threei}  stewy :)

[09:22] {rambler} gm...

[09:22] {Threei}  rambler :)

[09:29] {Threei}  thinking short

[09:29] {Threei}  FCX first

[09:31] {Threei} Short Setup: FCX  .80 break

[09:32] {Threei}  stop above .90

[09:33] {Threei}  target 1:2

[09:33] {Threei} Short Setup: LVS  .50 break

[09:34] {Threei}  if stays under .60

[09:34] {nemo} weird open

[09:34] {Threei}  let's trail to .86

[09:34] {Threei}  out

[09:34] {Threei}  yup

[09:34] {Threei}  SPY big spike

[09:35] {dino} life sm l .51

[09:35] {Threei}  LVS looks ready

[09:36] {Threei}  target 1:3

[09:39] {Les} s rig .60

[09:39] {Threei} Short Setup: FCX  .10 break

[09:40] {Threei}  if stays under .15

[09:40] {Threei}  let's trail LVS to .56

[09:40] {nemo} broke yeserday's downtrend

[09:41] {Threei} Long Setup:  X  .30 break

[09:41] {Threei}  if stays above .20

[09:43] {Threei}  1:1

[09:43] {pragmatic} that was quick

[09:44] {Threei}  entry was easy though

[09:44] {Threei}  LVS 1:1

[09:44] {Threei}  1:2

[09:45] {Threei}  X 1:2, out

[09:46] {Threei}  nice to see both behaving at the same time, X long and LVS short

[09:46] {Les} rig stop -.10 ty for lvs

[09:47] {Threei}  sure

[09:47] {Threei}  ugh

[09:47] {Threei}  X made perfect cangaroo tail

[09:47] {Threei}  missed short alert

[09:47] {Threei}  .45 was great entry

[09:48] {Les} SLW

[09:48] {thomcbell} nbl interesting long 

[09:48] {thomcbell} waiting

[09:48] {Threei} Short Setup: CLNE  .55 break

[09:49] {Threei}  if stays under .60

[09:49] {nemo} numbers at 10

[09:49] {nemo} trades by appt

[09:49] {stewy} no can do

[09:50] {Les} CAT wants 116

[09:51] {thomcbell} JOY says comfortable with 2012 forecast -= Bloomberg

[09:51] {thomcbell} at 9:50 or so

[09:58] {dino} pzza sm l .08

[10:00] {dino} out pzza .38, +.30

[10:00] {cipher} +.28 pzza thx dino

[10:00] {Threei}  existing home sales 4.57 v 4.66E

[10:00] {dino} gj

[10:01] {Threei} Short Setup: CAT  .90 break

[10:01] {Threei}  half lot

[10:01] {Threei}  target around .60

[10:01] {Threei}  1:1

[10:02] {Threei}  1:2

[10:03] {stewy} 1'2 taken thanks

[10:03] {stewy} 1:2

[10:03] {Threei}  :)

[10:03] {Threei}  "easy button"

[10:04] {Threei}  lol:

[10:04] {Threei}  Gov. Christie on Buffet: "He should just write a check and shut up."

[10:05] {stewy} wow, Christie speaks, the markets move

[10:05] {Threei}  lol

[10:07] {Threei} Short Setup: FDX  .60 break half lot

[10:08] {dino} trak sm l .58

[10:08] {Threei}  stop above .70 scalpers

[10:08] {Threei}  .80 day traders

[10:10] {Threei}  out

[10:10] {nemo} iwm walking right up my trend line, spy levitating over retracement

[10:10] {Threei}  SOY spikes again

[10:11] {RonS} overly fermented?

[10:11] {Les} :)

[10:11] {Threei}  lol

[10:15] {dino} .  

[10:16] {nemo} this is one of the weirder opens of late

[10:17] {dino} nfx sm l .40

[10:17] {Threei} Long Setup:  DTV  .43

[10:17] {Threei}  if stays above .35

[10:26] {Threei}  DTV looks ready

[10:26] {Threei}  two setups in one, JBE and 2-days break

[10:31] {dino} nfx stop -.22

[10:32] {dino} trak stop -.30

[10:33] {dino} out life .75, +.24

[10:37] {Threei}  no go

[10:41] {Threei}  FDX rinse

[10:42] {cipher} l ibm .09

[10:43] {Les} RIG 49

[10:47] {RonS} simo smackdown

[10:50] {cipher} out ibm .49 +.40

[10:51] {cipher} squeezed every drop out of it

[10:55] {Threei}  nice

[10:55] {Threei} Long Setup:  MRO  .75 break

[10:57] {Threei}  if stays above .65

[10:58] {dino} simo gap around 17.45

[10:59] {dino} nfx sm l .00

[11:01] {Threei}  stop to .69

[11:01] {Threei}  1:1

[11:02] {dino} out mro .89, +.13 ty 3i

[11:03] {dino} gild sm l .01

[11:03] {Threei}  easy moneywelcome

[11:04] {Threei}  me like easy money

[11:07] {Les} GDX DT?

[11:08] {Threei}  tough call

[11:08] {Threei}  can break out just as easily

[11:09] {Les} yeh

[11:19] {Threei} Short Setup: CAT  116 break

[11:19] {Threei}  half lot

[11:20] {Threei}  stop above .10

[11:20] {Threei}  target 1:2

[11:21] {Les} can't borrow

[11:22] {Threei}  may be a good thing

[11:22] {RonS} got the mibbet boot...

[11:22] {Threei}  yeah, dino did too

[11:25] {dino} yeah

[11:28] {nemo} this is summertime range in the spy

[11:29] {Threei}  gut says breakdown is coming

[11:29] {Les} Fitch threatens to call a default on Greece. Wonder if market is trying to bluff here

[11:29] {Threei} Long Setup:  TZA  .95 break

[11:30] {Threei}  if like aggressive, .90 break

[11:33] {Threei}  CAT 1:1

[11:35] {Threei}  andf here we go

[11:36] {Threei}  TZA aggressive at 1:2

[11:37] {Threei}  (US) White House formally releases tax plans, to eliminate oil and gas tax preferences and bring corporate tax rate to 28% from 35%

[11:37] {Threei}  - Aims to tax carried interest as normal income

[11:37] {Threei}  - Eliminate tax break for moving production overseas, provide firms with a 20% tax credit to move operations back to the US.

[11:37] {Threei}  - Would look to establish greater tax parity between corporations and partnerships.

[11:37] {Threei}  - To expand domestic production deduction to 10.7% -

[11:37] {Threei}  Reduce deductability of interest for corporations to cut bias toward debt financing.

[11:37] {Threei}  - Eliminate corporate aircraft tax breaks.

[11:37] {Threei}  - Would make renewable electricity tax credit permanent.

[11:38] {nemo} and they're tripling the dividend tax rate

[11:40] {Threei}  CAT target hit

[11:42] {Threei}  TZA 1:1 from regular entry

[11:42] {Threei}  1:3 aggressive

[11:42] {Threei}  boy, does this look ever so familiar to me... standard scheme in post-USSR times:

[11:42] {Threei}  Puda Coal Inc. (CH) SEC charges Puda Coal executives in China with securities fraud

[11:42] {Threei}  - SEC alleges that Puda Coal Inc.s chairman Ming Zhao schemed with former CEO Liping Zhu to steal and sell Puda Coals sole revenue-producing asset, a coal mining company named Shanxi Puda Coal Group. Zhao secretly transferred Puda Coals controlling interest in Shanxi Coal to himself and then sold a substantial portion to a fund controlled by what is reported to be Chinas largest state-owned financial firm. The scheme enabled Zhao rather than Puda Coals public shareholders to profit from a lucrative business opportunity.

[11:43] {Les} good call. RIG been playing me all day, when we were waiting for this moment

[11:44] {Les} I see PUDA's gone

[11:44] {Threei}  air smelled breakdownish

[11:44] {cipher} nfx l .10

[11:44] {Threei}  enormous fortunes were made in ex-USSR with this kind of scemes

[11:44] {Les} that some interesting air you smelling there VAd

[11:44] {Threei}  lol

[11:45] {Les} yeh read of how instant billionaires took everything post USSR

[11:46] {dino} nemo, are they propsing an increase in capital gains tax?

[11:46] {cipher} out nfx .25 +.15

[11:47] {dino} gj

[11:47] {nemo} dividends and capital gains

[11:47] {Les} all out TZA .11 ty vad

[11:47] {dino} out gild .31, +.30

[11:47] {cipher} now it takes off :-(

[11:47] {dino} wtf, these proposals will kill investing

[11:47] {nemo} yep

[11:47] {Les} took aggressive .91 added .96

[11:48] {nemo} think about the price of a stock if you kill the dividend

[11:48] {Les} bye bye Dow 30

[11:48] {nemo} cut dividend income in half through taxes, cut stock price in half

[11:48] {RonS} took nfx .15 to .45 +.30  thanks dino

[11:49] {dino} out nfx .45, +.35, thx cipher, couldn't figure out that one on my own

[11:49] {RonS} "prez proposes, Congress disposes"

[11:49] {Les} RIG 49 b/d Vad?

[11:49] {nemo} nfx hadn't reached support

[11:50] {RonS} should i give back my money?

[11:50] {Les} ouch

[11:50] {cipher} l ibm .25

[11:50] {nemo} ?

[11:50] {Threei}  I think so les

[11:52] {Threei}  http://goo.gl/Xpejo

[11:52] {cipher} out .42 +.17

[11:58] {stewy} tza thanks vad

[11:59] {Threei}  sure thing

[12:01] {rambler} got TZA...tks V

[12:02] {Threei}  :)

[12:07] {dino} pzza lod

[12:10] {nemo} http://www.schnittshow.com/cc-common/news/sections/newsarticle.html?feed=104707&article=9795673

[12:13] {dino} sm l pzza .52

[12:13] {Threei}  (US) White House reaffirms opposition to foreign profit repatriation holiday

[12:13] {Threei}  why?

[12:13] {Threei}  I never looked into it... does it make sense?

[12:14] {Threei}  or usual "f**k business" thing?

[12:14] {nemo} usual f**k business thing

[12:15] {RonS} would bring at least  $trillion parked overseas that could be used here

[12:15] {nemo} maybe, maybe not

[12:15] {RonS} ergo "could"

[12:16] {nemo} Cogito

[12:16] {Threei}  I'd think if you give a limited time windoqw, it would stimulate the repatriation

[12:16] {RonS} gotta luv the O:  puts it right out there..."i am a socialist/communist and plan to jam what i can up your rear"

[12:18] {nemo} i would be long tna here

[12:18] {RonS} nemo, are you trading yet?

[12:18] {nemo} yep

[12:18] {RonS} good, seems your calls are better when you are...

[12:18] {nemo} however, today I'm sparring with guidance councillors, adminstrators and I'm digging my nephew's grave

[12:19] {RonS} sorry to hear that...

[12:19] {nemo} he will be too

[12:19] {nemo} gotta' go buy some lime

[12:19] {Threei}  one'd think with all your relarives you'd already have biought a small excavator

[12:19] {nemo} can't get it out to the swamp

[12:20] {nemo} Was thinking of getting a mobile incinerator I can load on a pick-up truck

[12:20] {dino} roflol

[12:20] {Threei}  this should do

[12:21] {dino} nemo, they are crushing rgr

[12:21] {nemo} "friend" of a "friend" of mine in NJ had an incinerator in his back yard

[12:21] {nemo} partialed tna here

[12:22] {nemo} wow...never was a fan of ruger, except their revolvers...love the redhawks

[12:22] {dino} i like the rifles

[12:23] {nemo} if you took tna, don't look for  big run...I could be wrong, but lunch

[12:23] {nemo} I'll take the new Savage rifles over anything...Having said that, all my rifles are built on 60's Winchester model 70 receivers

[12:24] {nemo} long-actions to be specific

[12:24] {nemo} wanted the option to rebarrel in magnum calibers

[12:27] {dino} i have a nice 7mm all weather

[12:27] {dino} sm l rgr .85 ave

[12:27] {nemo} nice...stainless barrel burner....is that standard 7mm or the stw?

[12:27] {cipher} ibm l .15

[12:28] {dino} stainless

[12:28] {nemo} 26" barrel?

[12:28] {dino} y

[12:28] {nemo} yeah, has to be to burn all the powder in a magnum

[12:29] {nemo} 130 grain rounds or 150?

[12:29] {dino} 150

[12:29] {nemo} that's a nice little whack to the shoulder

[12:30] {dino} indeed

[12:30] {cipher} out 1/2 .28

[12:30] {dino} gj

[12:30] {nemo} one could think of adding to tna over 60

[12:32] {cipher} out rest .37 +.22

[12:33] {Les} GDX nice DT. Guess metals are gonna get hit

[12:34] {dino} ccmp spikey

[12:35] {cipher} talk about PULP

[12:35] {dino} tsla drop

[12:36] {dino} which one cipher

[12:36] {dino} tsla sm l .26

[12:37] {cipher} tsla l .18

[12:37] {cipher} out .34 partial

[12:39] {cipher} bought double lot by accident

[12:40] {dino} not liking the pause in it

[12:41] {cipher} bids showing now

[12:44] {RonS} lol...It's such a beautiful day in New York, think I'll go outside and stare at my phone.

[12:44] {nemo} ?

[12:44] {nemo} mushrooms in your soup Ron/

[12:44] {nemo} ?

[12:45] {RonS} it's a quote from a guy in NYC...sarcasm seeing all the idiots do just that...

[12:45] {Threei}  lol

[12:46] {Les} LVS .50?

[12:46] {Les} b/d?

[12:46] {Les} nah

[12:48] {cipher} out tsla .39 +.21 thx dino

[12:48] {dino} tsla to flat

[12:48] {cipher} chickened out

[12:49] {dino} gj

[12:50] {dino} out tsla .60, +.34

[12:51] {cipher} wtg

[12:51] {dino} ;)

[12:52] {dino} dropped again

[12:53] {dino} gild hod

[12:53] {dino} sm l .60

[12:54] {Threei}  Google Inc Patent blog reports that recent filings suggest Google may be seriously considering a desktop version of the Android operating system

[12:55] {Threei}  imbeciles on the march:

[12:55] {Threei}  (US) House Democrats are said to ask President Obama to release oil reserves from the SPR - financial press

[12:55] {nemo} like that will matter

[12:55] {Threei}  unfrikinbelieable

[12:56] {nemo} politics is about political solutions not practical workable solutions

[12:56] {Les} why. price of petrol jumped?

[12:56] {Threei}  gasolin in US at record highs Les

[12:56] {Les} ok

[12:58] {cipher} how much by you Les?

[12:58] {dino} all about votes

[12:59] {Les} I'd have to convert cipher, hang on

[12:59] {cipher} that's ok i'm european :-)

[12:59] {Threei}  but SPR is a few days relief, even if you assume that it's oil shortage that causes gas prices to rise,

[12:59] {dino} where you at cipher?

[12:59] {cipher} i live in the us now

[12:59] {Threei}  and votes count in 8 month, not now

[13:00] {Threei}  so how is it a good movce in political sense?

[13:00] {nemo} noch ein Deutscher

[13:00] {cipher} ja klar

[13:00] {nemo} aus Berlin

[13:00] {Les} 7.20 a gallon or thereabouts

[13:00] {dino} they will say "i lowered prices thru spr release" doesn't matter if true or not

[13:00] {Les} 1.9 a litre

[13:00] {Threei}  for three days?

[13:01] {dino} 3i, they will say it if only ten minutes

[13:01] {cipher} double than what we pay

[13:01] {dino} why else consider releasing it

[13:01] {Threei}  yeah, I am yet to see a cretin who woluld change his vote based on that

[13:01] {dino} i agree w/ya, but politicians do't think as we do. they add this to the list

[13:02] {Les} mostly taxes. good infrastructure here. can't complain

[13:02] {cipher} uk?

[13:02] {nemo} Die Schweiz

[13:02] {cipher} ah

[13:02] {nemo} or is it Der, Ich habe vergessen

[13:03] {Threei}  why do you want schweiz to die?

[13:03] {nemo} oy vay

[13:03] {Threei}  hehe

[13:03] {nemo} sehr schlimm, and we're not talking your girth

[13:03] {dino} lol

[13:05] {dino} out rgr .30, +.45

[13:06] {Les} wow u still in Nemo?

[13:07] {cipher} gj

[13:07] {nemo} no

[13:08] {thomcbell} long setup - joyg 93.01 break 1/2 lot if holds 0.80

[13:08] {thomcbell} joy

[13:08] {thomcbell} have to keep up with the times

[13:08] {nemo} that shakout under .80 got me

[13:08] {nemo} I need to remember at the bottom to hold after partialing below my entry

[13:09] {nemo} see that Les, right off the WPP

[13:10] {Les} on IWM? Don't have that index annotated

[13:10] {nemo} gotta watch spy and IWM together

[13:10] {nemo} http://www.freestockcharts.com?emailChartID=dfcd18f3-9d74-4562-ae83-8fee37d6dac2

[13:10] {Threei}  this is freakishly good timing:

[13:10] {Threei}  [12:18] {nemo} i would be long tna here

06[13:11] * Threei slaps nemo around a bit with a large chart of uptrending market

[13:12] {nemo} honestly...if you have that chart format I just posted up on one monitor, it's like taking candy from a baby and smacking it over the head with it's bottle and then rammming...er...nevermind

[13:12] {Threei}  I have this feeling, gotta track it for a while:

06[13:12] * Les slaps Nemo around with big "Why the F&%ç didn't you give me this chart before" question banner

[13:12] {nemo} you never sent the check

[13:12] {Les} :P

[13:12] {Threei}  in the morning faster trading, for an hout, hour and a half, my read is more precise,

[13:13] {Threei}  then when things slow down greatly I lose the read altogether,

[13:13] {Threei}  but nemo's becomes very precise

[13:14] {thomcbell} gold and gold stocks very strong all the sudden

[13:14] {nemo} now, iwm spy approaching vwaps

[13:14] {thomcbell} joy 1:2

[13:15] {thomcbell} 1:3

[13:15] {Threei}  nice

[13:15] {thomcbell} 1:4

[13:16] {thomcbell} fcx looks interesting herre too

[13:17] {thomcbell} sold 1/2 joy 93.40 

[13:19] {thomcbell} selling another 1/4 joy  in here

[13:19] {thomcbell} stop to 93.14 on balance

[13:22] {nemo} tsla new lows

[13:23] {cipher} l tsla .61

[13:25] {nemo} sehen Sie unterstutzung?

[13:26] {cipher} out .56

[13:26] {thomcbell} joy out

[13:27] {thomcbell} thought it might have more

[13:31] {dino} tsla sm l .70

[13:32] {cipher} ditto

[13:33] {cipher} re entered @ .70

[13:33] {cipher} out .93 +.23

[13:35] {cipher} wow

[13:35] {cipher} you're out yet dino?

[13:35] {dino} out tsla .23, +.53

[13:35] {cipher} nice

[13:35] {dino} ty

[13:36] {cipher} i didn't see it coming

[13:36] {Threei}  TSLA didn't see it coming

[13:36] {cipher} lol

[13:44] {nemo} Iran extended credit to Greece

[13:46] {dino} lol, looking for friends

[13:50] {Threei}  first half of the day worked admirably for us today,

[13:50] {Threei}  now what we need to determine is:

[13:50] {Threei}  who has an edge till 15:00, nemo or I

[13:51] {dino} hmmm, 5 for 5 in afternoon, w/2 still open itm

[13:52] {dino} rgr sm l .64

[13:52] {nemo} iwm coming into vwap, that'll be the SOGOTP moment

[13:53] {dino} out gild .90, +.30 make that 6

[13:56] {Threei}  wtg

[14:01] {dino} out rgr .98, +.34

[14:05] {stewy} .

[14:08] {Les} Nemo's hurt my poor little dual core with his monster chart

[14:09] {nemo} 1 frickin' chart

[14:09] {Threei}  my 6 core didn't even notice it

[14:09] {nemo} crissakes, NORAD runs on mine

[14:09] {dino} ugh tsla

[14:10] {Les} 6 core?

[14:10] {nemo} yeah, you can buy 8 core, the high-end i7s with multi-threading will show up as 8s

[14:11] {Threei}  yes

[14:11] {nemo} AMD makes an 8 core

[14:11] {Threei}  seemed an overkill to me, settled on 6

[14:11] {Threei}  price premim didn't look worth it

[14:11] {nemo} yeah, that's the big deal...my quad is enough with good video cards

[14:14] {Les} need graphics card that can support 3 screens above all else. I see NVDA's 560 does it

[14:15] {Threei}  I elcted 2 cards with dual heads each

[14:15] {nemo} well, you can also get a multi-adapter and run it off one out

[14:15] {nemo} so you get a single head 1 gig card, run a splitter adaptor and run two monitors

[14:15] {Threei}  better price/functionality ratio than a single card with 4 heads

[14:15] {nemo} 250 mg/screen is sufficient

[14:16] {nemo} As I said, with windows now, just use adaptors.  A decent two headed card will easily run for monitors with a couple of adaptors

[14:17] {Les} so your XP box is finished Vad?

[14:17] {nemo} XP is fine, the dual core is dead

[14:18] {Threei}  it works but serves as a backup

[14:18] {Threei}  felt it was time to build more powerful one

[14:19] {Threei}  couldn't find configuration that suited me, so built it myself

[14:19] {Les} ya geek

[14:19] {Threei}  not really

[14:19] {Threei}  never done it before

[14:19] {Les} oh

[14:19] {Les} did it once

[14:19] {Les} never again

[14:19] {Threei}  but it turned out to be not much more compklicated than Lego

[14:20] {Threei}  would do it again in a heartbeat

[14:20] {Les} maybe that's my problem

[14:20] {Threei}  took me just a few hours

[14:21] {Threei}  and I was reading the instructions along each step... I guess for someone who had done it a few times before, should be 40 min works

[14:21] {dino} cnc drop

[14:26] {dino} moh drop

[14:26] {dino} unh, wlp, heathcare dropping

[14:27] {dino} moh gap 31.60ish

[14:28] {dino} moh sm l .75

[14:29] {dino} out .06, +.31

[14:30] {dino} too soon

[14:30] {dino} out pzza .07, +.56

[14:30] {cipher} +.21 cnc thx dino

[14:30] {dino} wtg

[14:31] {dino} ugly moorning 2 for 7, awesome afternnon, 9 of 9

[14:31] {dino} 3 for 7 a.m.

[14:32] {Les} was admiring those last ones

[14:32] {dino} engage maverick

[14:33] {Les} WTF is with gold and GDX

[14:33] {dino} flooding the world w/dollars/euros

[14:33] {Les} A run for ATH's is looking possible

[14:41] {Threei}  loojking to short into bounce

[14:41] {Threei}  by means of TZA long, from under 19

[14:43] {Threei}  come here little TZA

[14:43] {Threei}  5 cents more please

[14:46] {Threei}  crap... I am running out of sarcastic remarks:

[14:46] {Threei}  (GR) EU's Rehn: Greece bailout needs to be pushed through; to add prerequisites for growth; markets have shown some doubts about the new program

[14:46] {Threei}  - Greece must improve competitiveness in the short term.

[14:46] {Threei}  - Need to see private sector reform and cost adjustments.

[14:46] {Threei}  - Reiterates default will have dramatic consequences

[14:46] {Threei}  - Does not doubt Greece will follow through on its commitments after national elections.

[14:46] {Threei}  - Firewall for Greek debt crisis has been inadequate thus far.

[14:47] {Les} could be .05 TZA long?

[14:47] {Threei}  they really test my capacity for sarcasm - something I never thought would be possible

[14:47] {Threei}  well.. could be

[14:48] {Threei}  although I'd still prefer a drop under 19

[14:48] {Les} me too

[14:48] {Threei}  or .10 break

[14:49] {Threei}  .05 is kind of not here nor there

[14:50] {Threei}  hwre is the way to do it:

[14:50] {Threei}  half lot here

[14:50] {Threei}  add half lot on .10 break,

[14:50] {Threei}  or add half lot on 18 recrtoss if drops under that

[14:50] {Threei}  19, sorry

[14:50] {Les} ok

[14:51] {Threei}  this way you will have the best of all words

[14:51] {Threei}  if it loses .90 without crossing 19, you have a stop on half lot

[14:52] {Threei}  if it crosses 19, your stop will be under the low of pullback, desirably .95

[14:52] {Threei}  and if it proceeds to break .10, your stop for the whole lot will be under 19

[14:52] {Threei}  good plan?

[14:53] {Les} If I could read all those instructions, I'm sure it would be.

[14:53] {Threei}  hey, if I could TYPE them...

[14:53] {Les} fair enough

[14:56] {nemo} http://ibankcoin.com/news/2012/02/22/the-sec-hints-at-new-regulations-for-high-speed-traders/

[14:58] {nemo} interesting, IWM and SPY have been diverging in the late afternoons of late, might be here too

[15:00] {Threei}  here we go

[15:00] {Threei}  full lot long

[15:00] {Threei}  stop under 19

[15:02] {Threei}  what an incredible bs by sec

[15:03] {Threei}  they never etsablished a case that hft had anything to do with flash crash, yet: She said some of her concerns about high-speed trading were sparked by the May 6, 2010, �flash crash,�

[15:03] {Threei}  they however found out that "many high-frequency firms stopped trading during the upheaval"

[15:03] {Threei}  duh

[15:03] {Threei}  so did all sane traders

[15:03] {Threei}  human or otherwise

[15:05] {Threei}  and anyone possessing even rudimentary skills in risk management must stop trading during such a turmoil

[15:05] {Les} I remember watching in awe

[15:05] {Threei}  all algos are intended to be run under certain conditions, and thaey are overseen by humans to be shut down if conditions change

[15:06] {Threei}  ask me how I know

[15:06] {dino} no

[15:06] {Threei}  I write frikin algos!

[15:19] {Les} your algos can't whip up us a market crash here?

[15:21] {Threei}  nope... they are for little guys

[15:21] {Threei}  not for market movers

[15:27] {Threei}  precision of TZA support is nothing short of amazing

[15:28] {Threei}  just need SPY to lose 136 now for new bout of panic to hit

[15:29] {nemo} you mean off vwap?

[15:29] {Threei}  it's at 136?

[15:30] {nemo} tza/iwm bounced off vwap

[15:30] {nemo} spy retraced from open after hitting s1

[15:30] {Threei}  how does it answer my question, lol

[15:35] {nemo} soory, I broke to answer your other question

[15:35] {nemo} you said the precision of tza

[15:47] {Threei}  half out

[15:51] {Threei}  stop to .04

[15:51] {Threei}  hopefully in remaining 8 min we get one more paroxysm of panic

[15:54] {Threei}  here comes the ceisure

[15:54] {Threei}  (hopefully)

[15:54] {nemo} cynosure?

[15:55] {Les} yellow ink?

[15:55] {nemo} chartreuse?

[15:55] {Les} go play with yer rabbit

[15:55] {Threei}  Les... ain't this trade a total beauty of a management

[15:56] {Les} been admiring it, although I'd never admit it to you

[15:56] {Threei}  no need

[15:56] {Les} patience as well. Many times this last hour I've wanted to pull the plug

[15:56] {Threei}  wu wei

[15:57] {Les} yeh

[15:57] {Threei}  who doesn't know what it is and what it hasd to do with this trade, go read Taoist Trader

[15:57] {Threei}  NOW!

[15:58] {Threei}  out TZA

[15:58] {Les} sold .19 ty

[15:58] {Threei}  time is running out

[15:58] {Threei}  :)

[15:58] {Les} lesson much appreciated sifu

[15:58] {Les} c u's tomorrow

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a great evening

[15:59] {Threei}  see you tomorrow

[15:59] {stewy} ok thanks for the day