Monday, February 27, 2012

Feb 27 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  )



Fairly decent day with nice strong morning trades and comatose afternoon. Put it to a good use by discussing some trading theory.


Session Time: Mon Feb 27 00:00:00 2012
[08:39] {Threei}  - German parliament votes today on second Greek bailout package; will pass but dealers question the 'cost' of opposition support. Polls show that majority of Germans are against the bailout
[08:40] {Threei}  - German coalition spelled out its terms to support a second Greek bailout package when it voted later today on the topic. The coalition stated that it was seeking terms of the Greek aid to be met prior to any payment; and sought support to restructure Greek economy. Germany also wanted an IMF role in Greece 'as much as possible'
[09:04] {MigC}  Good morning
[09:04] {Threei}  morning migc
[09:08] {Threei}  if I were AAPL, I'd start worrying about ASUS taking over the world
[09:08] {Threei}  http://techinstyle.tv/20122723801/post-types/news/the-asus-padfone-one-device-to-rule-them-all/
[09:12] {Threei}  (DE) German Chancellor Merkel: There is no 100% guarantee of success in Greece; the goal is to achieve stability - address to Parliament ahead of vot on Greek bai;out package- If the euro fails then Europe will fail.
[09:14] {ese} morning vad
[09:14] {Threei}  ese!
[09:15] {Threei}  welcome back
[09:15] {Threei}  we started worrying
[09:15] {ese} for a bit anyway........
[09:15] {Threei}  some said the lustre of the capital lured you in
[09:15] {beau} good morning you all
[09:16] {Threei}  beau :)
[09:16] {ese} Ottawa was very successful......extremely positive for the kids in the band.....unbelieveable media attention
[09:16] {ese} but
[09:16] {Threei}  some found vague story about BC musician destroyng a bar in Ottawa...
[09:16] {ese} while i was there we had a tragic family incident
[09:16] {Threei}  oh... sorry to hear
[09:17] {Threei}  look dcc please
[09:17] {ese} my brothers son was killed in freak acident in an edmonton car parking lot
[09:17] {rambler} gm...
[09:17] {Threei}  rambler :)
[09:18] {ese} opps sorry
[09:23] {nemo} oh jeez ese...I'm so sorry
[09:23] {ese} tks nemo
[09:23] {ese} it's a wake up call for sure
[09:23] {ese} he was only 21
[09:24] {nemo} I am so sorry for your brother and his wife...there can be nothing worse for a parent
[09:25] {ese} ya he's hurting big time right now.......has be doing AA for 12 years but might be backdrinking again
[09:25] {ese} relapsing
[09:26] {nemo} same thing happened to friends of mine a few years ago...there only child and alcohol has been a problem for the husband
[09:26] {ese} I can now see that
[09:27] {dino} so sorry to hear ese
[09:28] {ese} tks dino were hanging in there......heres one of the media clips from the CBC re the trip
[09:28] {ese}  http://www.cbc.ca/video/#/News/Canada/Ottawa/1305550861/ID=2197445173
[09:28] {ese} see if that works
[09:29] {Threei}  inclining to short into initial spike
[09:30] {Threei}  FCX
[09:30] {Threei} Short Setup: FCX  .50 break
[09:30] {Threei}  change to .60 break
[09:31] {Threei}  half lot of course
[09:31] {Threei}  hardly obtainable
[09:32] {Threei} Short Setup: LVS  .20 break
[09:32] {Threei}  if stays under .30
[09:33] {Threei} Long Setup:  FCX  .45 break
[09:33] {Threei}  if holdng .35
[09:34] {Threei}  LVS invalidated
[09:35] {Threei}  FCX, let's tighten to .39
[09:36] {dino} int sm l .25
[09:36] {Threei}  out
[09:37] {thomcbell} lvs has some fight in it 
[09:37] {Threei}  true, looking for long entry
[09:38] {Threei}  got away
[09:38] {Threei} Short Setup: X  .75 break
[09:39] {Threei}  stop .81
[09:40] {Threei}  half out .67
[09:40] {Threei}  stop to .76
[09:41] {dino} int stop -.33
[09:43] {Threei} Long Setup:  LVS  .45 break
[09:43] {Threei}  stop under .35
[09:45] {Threei}  target 1:2
[09:45] {Threei}  1/4 more out X
[09:45] {Threei}  .63
[09:45] {Threei}  stop to .71
[09:46] {Threei}  LVS 1:1
[09:46] {Threei}  X last part closed
[09:47] {Threei}  LVS target hit
[09:48] {beau} thks vad
[09:48] {Threei}  welcome
[09:48] {Les} morning
[09:49] {Threei}  ugh SLW
[09:49] {Threei}  Les :)
[09:49] {Threei}  mised breakdown
[09:49] {Threei}  let's see if giveds the setup again
[09:49] {Threei} Short Setup: SLW  .20 break
[09:50] {Threei}  if stays under .25
[09:51] {rambler} ese, checked out your vid, looked like fun...
[09:51] {rambler} sorry to hear about other news....
[09:52] {Les} I think I had to hide just about all market makers to see correct L2 for slw
[09:52] {ese} was fun ...tks rambler
[09:52] {Les} ah better now
[09:53] {Threei}  no go
[09:53] {dino} nfx sm l .52
[09:55] {Les} .15 is half pivot support. Looking for new b/down on SLW
[09:55] {dino} hbc sm l .50
[09:56] {Threei} Long Setup:  CAT  .05 break
[09:56] {Threei}  half lot
[09:56] {dino} int sm l .85
[09:56] {Threei}  ummm
[09:56] {Threei}  good luck getting that
[09:57] {Threei}  if you have magic wand and got it, feel free to exit
[10:00] {dino} icon l .00
[10:00] {Threei}  *(US) JAN PENDING HOME SALES M/M: 2.0% V 1.0%E; Y/Y: 10.3% V 4.4% PRIOR
[10:01] {Les} damn SLW
[10:02] {Threei} Short Setup: SLW  .40 break
[10:03] {Threei} Long Setup:  SLW  .50 break
[10:04] {dino} out int .23, +.38
[10:05] {Threei}  long it is
[10:06] {dino} out icon .17, +.17
[10:06] {Threei}  let's trail to .44
[10:09] {Threei}  1:1
[10:10] {Threei}  1:2, out
[10:16] {Threei} Long Setup:  ACC  .30 half lot
[10:17] {Threei}  if stays above .20
[10:19] {Threei}  LVS lost drive
[10:20] {Threei}  ignored the whole move up in SPY
[10:20] {Threei} Short Setup: LVS  .45 break
[10:20] {Threei}  if stays under .55
[10:24] {dino} dndn sm l .60
[10:24] {Threei}  no rinsing LVS
[10:24] {Threei}  target 1:3
[10:27] {dino} dndn stop -.22
[10:31] {Threei} Short Setup: CAT  .40 break half lot
[10:32] {Threei}  invalidated
[10:34] {Les} trannies bouncing off Friday's close
[10:34] {Threei}  ok LVS
[10:34] {Threei}  it's time
[10:38] {Threei}  slow boat to bottom
[10:39] {Threei}  1:1
[10:39] {Threei}  firast partial
[10:40] {dino} dndn sm l .50
[10:41] {nemo} well, that was our pullback
[10:41] {Threei}  *(US) FEB DALLAS FED MANUFACTURING ACTIVITY: 17.8 V 15.5E
[10:41] {nemo} Let the Rally rip!!!!
[10:41] {Threei}  balance stopped b/e LVS
[10:41] {Threei}  just when it was ready to plunge to second target
[10:46] {Les} LVS really is lame duck in this rally
[10:47] {Les} FCX .50?
[10:47] {Les} if holding .40
[10:47] {Threei}  I guess
[10:47] {Threei}  hard to tell
[10:48] {Les} late to the party or another weakling?
[10:48] {Threei}  no confidence
[10:49] {Les} yeh, don't like it long
[10:50] {Les} RIG DT. 1 min. late
[10:55] {Threei} Long Setup:  X  .90 break
[10:56] {nemo} new highs today?  bear castration coming
[10:56] {Threei}  feels this way
[10:58] {Threei}  invalidated
[10:58] {Les} WYNN 116.5?
[10:59] {Les} casinos limping in the market winds
[11:00] {Threei}  WYNN is beyond my risk tolerance
[11:00] {Threei}  you'll have to wait for magoo grand entrance to get a comrade for this kind :)
[11:01] {Les} yeh I saw how it moved. definitely low vol. play. I'll pass :)
[11:01] {nemo} next leg
[11:01] {Threei}  X is back on radar
[11:01] {Threei}  maybe aggressive was a better idea on it
[11:01] {Threei}  and still is
[11:03] {nemo} mmmhhhh...spy regained a trend line I'm plotting 
[11:04] {Threei}  you teo are scheming together
[11:04] {Threei}  two
[11:07] {Threei}  will take .85 break
[11:07] {Threei}  aggressive
[11:07] {Threei}  invalidated
[11:08] {Threei}  .80 break with .74 stop
[11:08] {Threei}  in
[11:09] {Threei}  want to exit half closer to .90
[11:09] {Threei}  and try to ride the break
[11:12] {Threei}  are you blind X?
[11:12] {Threei} Long Setup:  TNA  62 break
[11:12] {Threei}  half lot
[11:13] {Threei}  stop .88
[11:15] {Threei}  1:1
[11:15] {Threei}  half out X .88
[11:15] {Threei}  1:2 TNA
[11:15] {Threei}  out in full
[11:15] {Threei}  break that .90 X
[11:15] {Threei}  stop to .79 odf course
[11:16] {Threei}  offer 1/4 more above .95
[11:16] {Threei}  awww TNA
[11:16] {Threei}  out too soon
[11:16] {andj} HI all...
[11:16] {cipher} nice call
[11:17] {Threei}  andj :)
[11:17] {Threei}  ty
[11:17] {Threei}  TNA was kind of obvious thing,
[11:17] {Threei}  X was interesting as far as trade management goes
[11:18] {Threei}  catching aggressive entry
[11:18] {Threei}  minimal risk, max potential
[11:20] {Threei}  1/4 more out
[11:20] {Threei}  .96
[11:21] {Threei}  stop to .84 for the last piece
[11:21] {Threei}  want to try to something like 28.04
[11:21] {nemo} s[y about to break for new highs,  should go another .30 for next target and then to 137.95
[11:22] {Threei}  while X makes up its mind, notice one important thing:
[11:22] {Threei}  we are successfully utilizing clow climb today
[11:22] {Threei}  slow
[11:22] {Threei}  adjustment to changing conditions...
[11:23] {Threei}  if that's what we have, let's find out how to put it to a good use
[11:23] {vijay} thanks Vad for the commentary helps newbies like me
[11:23] {Threei}  leave it to analysts to discuss what should be,
[11:23] {Threei}  traders deal with what is
[11:23] {Threei}  sure thing vijay
[11:24] {Threei}  the rest of tirade is in Taoist Trader so I'll spare you the lecture :)
[11:24] {Threei}  out X
[11:24] {Threei}  28.04, as planned
[11:25] {Threei}  horrifically early exit on TNA
[11:25] {Threei}  I'd beat myself over the head fore that but why bother when nemo is around to provide either a brick or 2x4...
[11:26] {Les} I think I can hear Bear screaming coming through Laser
[11:26] {Threei}  lol
[11:27] {Threei}  seriously, how many of those non-trader types shorting "fake rally" cringe in pain and discuss manipulation...
[11:29] {Les} with charts Nemo provided, one can see a very logical progression of market as it bounces off s/r. 
[11:29] {Les} this bear breaking rally did catch me by suprise
[11:29] {nemo} wow that's an oxymoron
[11:29] {nemo} nemo and logic in the same sentence
[11:30] {Les} not you
[11:30] {Les} the market
[11:30] {nemo} what's interesting is, IWM bounced at support, there was no support for spy.  Risk On bounced first
[11:30] {dino} afam drop
[11:30] {Les} good call
[11:31] {nemo} Yeah, can youimagin what your buddy Zero Hedge is thinking
[11:33] {Les} TZA support here
[11:35] {nemo} imo, never look at tza or tna for support and resistance, always go off of IWM
[11:35] {Les} ok
[11:35] {nemo} tza and tna are derivatives of IWM
[11:36] {nemo} btw...iwm has regained the long term trend line I was tracking
[11:37] {Les} i see it
[11:45] {stewy} gd morning
[11:45] {stewy} late start
[11:46] {Threei}  morning stewy
[11:46] {Threei}  missed a few good ones
[11:47] {stewy} i thot you might have a good start to the wk
[11:51] {dino} bcpc drop
[11:52] {dino} sm l .07
[11:52] {Threei}  *(DE) GERMANY LOWER HOUSE (BUNDESTAG) APPROVES SECOND GREEK BAILOUT PACKAGE (AS EXPECTED)- Vote: 496 in favor, 90 against, 5 abstained
[11:57] {dino} out bcpc .42, +.35
[12:11] {Threei} Long Setup:  TNA  62 break
[12:11] {Threei}  just a quick scalp
[12:16] {andj} is that a double bottom?
[12:16] {Threei}  kind of, yes
[12:16] {Threei}  no worky
[12:17] {andj} what do you mean worky?
[12:18] {nemo} it was unsuccessful "no worky"  Vadspeak
[12:20] {dino} out hbc .84, +.34
[12:22] {Threei}  to put it in a sophisticated way: worky = profit, no worky = stop
[12:26] {Threei} Short Setup: X  .75 break
[12:26] {Threei}  if stays under .80
[12:33] {Threei}  aiming for a scalp as well, somewhere between .65 and .70
[12:43] {vijay} Is X still on Vad?
[12:43] {Threei}  barely but yeah
[12:43] {vijay} thx
[12:45] {Les} NTES 51 break interesting
[12:45] {Threei}  chart's right
[12:46] {Threei}  time of the day and the degree of market jellyfishiness is, well...
[12:46] {Les} yep
[12:49] {Threei}  out
[12:52] {Les} sm l NTES .99
[12:55] {Les} stop -.15
[13:18] {dino} wdc drop
[13:19] {dino} sm l .60
[13:21] {dino} out flat
[13:22] {dino} sm l .50
[13:23] {andj} Hey dino...what does sm l  mean?
[13:24] {Threei}  small long
[13:24] {andj} meaning small lot size?
[13:24] {Threei}  right
[13:25] {andj} thanks.
[13:25] {dino} yes, 400
[13:29] {Les} NTES rollover
[13:30] {andj} so are you guys looking more for short or long plays right now?
[13:31] {Threei}  I personally have no bias at this point
[13:31] {nemo} we look for what's there
[13:31] {dino} doesn't make a difference to me
[13:31] {nemo} dino looks for dead people
[13:31] {dino} lol
[13:31] {andj} so what is there right now?
[13:31] {nemo} fog
[13:31] {andj} Does he see dead people?
[13:32] {Threei}  it's a comatose market, surefire recipe for shakeouts on traditional setups
[13:32] {dino} my edge is sharp spikes for shorts, sharp drops for longs
[13:32] {Threei}  dino plays stocks that tend to move independently
[13:32] {dino} and, of course i see dead people
[13:32] {Threei}  I see dead pixels
[13:32] {nemo} as long as your wife doesn't say that about you to you
[13:34] {andj} so threei does that mean that you mostly trade with the market movement?
[13:35] {nemo} frickin' Les jr.
[13:35] {dino} lol
[13:36] {Threei}  well, it's not as simple as long with upward market, short with downward, but yes, market direction dicates most of my plays
[13:36] {dino} wall at .70 wdc
[13:36] {nemo} actually relative strength of stocks to market direction
[13:36] {dino} ice theory
[13:37] {dino} good girl
[13:37] {andj} ice theory?
[13:37] {Les} piss off
[13:38] {Les} not you andj...that's for Nemo
[13:38] {dino} ice theory, on support or resistance. think hammer knocking on ice, the more times it hits the weaker it gets
[13:38] {Threei}  Western Digital Corp Hearing M&A blog speculating that the deal to purchase Hitachi's hard drive unit could be facing difficulties
[13:38] {Threei}  - Reminder: The EU commission approved the deal in November and in December China officials were said to have concerns about the company's planned acquisition of Hitachi's global storage technologies unit (Hitachi Global Storage Technologies (HGST))
[13:39] {nemo} Ahhhh, Les demonstrating his sesquepedalian Loquacity again
[13:39] {Threei}  that's your WDC dino
[13:39] {dino} thx, no worries
[13:39] {dino} andj, see how .70 weakened with hammer hits
[13:40] {andj} I knew that was for nemo...but thanks les...you guys must be old friends (or enemies)
[13:40] {andj} dino what stock are you speaking of?
[13:41] {dino} roflol......wdc
[13:41] {nemo} sorry to drag you into the fray andj...collateral damage
[13:41] {nemo} then again, not really
[13:42] {andj} I may go home and cry
[13:43] {nemo} aren't you home now?
[13:43] {andj} at work ...working at home is the goal
[13:44] {nemo} nice...you can sit and get paid at work and day trade...life's a bitch
[13:44] {andj} except I'm a terrible day trader...so I can make money at work and loose it all in the market
[13:45] {nemo} rig .50
[13:53] {Les} FCX lost 43.75 daily support. Looking lower here
[13:58] {dino} mhs sm s .48
[14:00] {dino} ng, out -.11
[14:01] {Threei}  NTES behavior is very illustrative of this time of the day
[14:02] {Threei}  shakeout, then working on the next break
[14:02] {Threei}  effectively it rinsed two categories
[14:02] {Threei}  thosxe who went long on a first break,
[14:03] {Threei}  then those who decided breaks are not going to work and shorted next attempt
[14:08] {Threei}  wow... non-stop
[14:09] {thomcbell} long setup crm 143.52 half lot 
[14:09] {thomcbell} 1/4 lot 
[14:09] {thomcbell} lol
[14:09] {thomcbell} disregard it 
[14:10] {thomcbell} need to get closer stop
[14:13] {Les} thx for pointing out NTES. Interesting, its behaviour
[14:14] {Les} stopped watching it after it dropped away
[14:44] {dino} took awhile, but out wdc .94, +.44
[14:45] {Threei}  wtg
[14:45] {cipher} gj
[14:46] {Les} goes nicely with my setup dino. gotta get more systematic with your calls
[14:49] {Les} sm long FDX .83
[14:49] {dino} ty
[14:49] {Les} stop under .70
[15:02] {Les} half out .90
[15:08] {Les} damn 1:2 offer wasn't snagged at .99. out flat
[15:09] {dino} slow afternoon (again)
[15:10] {Threei}  les, why flat?
[15:10] {Threei}  don't you trail stop after 1:1?
[15:10] {Les} remained the same
[15:10] {Les} .82
[15:13] {dino} hbc l .91
[15:18] {Les} ...but should have trailed. confidence that X will happen doesn't put money in the account
[15:21] {Les} http://www.telegraph.co.uk/earth/earthnews/9109106/Freezing-winters-ahead-due-to-melting-Arctic-Sea-ice.html
[15:21] {Les} global warming's a bitch
[15:21] {Threei}  lol
[15:22] {nemo} if only California and Cambridge MA would sink into the sea
[15:23] {andj} hey dino...do you do mostly day trades?  I noticed that you make a lot per trade.
[15:23] {dino} yes, rare i hold overnight
[15:23] {Les} s FDX .68
[15:24] {Les} stop above .80
[15:24] {andj} Let me get out of California first nemo...
[15:24] {Threei}  andj, do notice that dino's styl involves very volatile stocks,
[15:24] {Threei}  his profits aree genereally bigger, stops are much wider and shares - smaller
[15:25] {cipher} careful with dino's picks...
[15:25] {cipher} you can make a killing or lose your shirt
[15:25] {cipher} happened to me initially
[15:26] {cipher} then I fugured out how to tame the beast
[15:26] {dino} :O; but he is right to warn you. do not follow me blindly. you pull the trigger, you own it
[15:26] {andj} how did you tame the beast?
[15:26] {cipher} trial and error...
[15:26] {cipher} I'm relatively a noob
[15:26] {Threei}  beat it over the head with 2x4
[15:26] {dino} he waits until after i enter for a better entry
[15:27] {cipher} been here 3-4 months
[15:27] {cipher} lol dino
[15:27] {cipher} not hat simple :-)
[15:27] {Threei}  how long did it take for things to start clicking together cipher?
[15:27] {andj} good question threei
[15:27] {cipher} well not that long...
[15:28] {cipher} I used to trade before
[15:28] {cipher} but the game changed a lot, so had to adjust
[15:28] {dino} constantly adjusting here
[15:28] {Threei}  name of the game
[15:30] {Les} fdx stopped -.15
[15:36] {Threei}  strange
[15:36] {Threei}  normally last hour has some determination and presents opportunities
[15:36] {Threei}  not today
[15:36] {nemo} I'm bored
[15:36] {Threei}  sorry nemo
[15:36] {nemo} IWM walking daily pivot
[15:37] {cipher} trading is boring by nature
[15:37] {cipher} like fishing
[15:37] {nemo} hunting
[15:37] {cipher} that's why I hate fishing
[15:37] {nemo} I love killing things though
[15:38] {Threei}  yeah, I have to fix jaw dislocation caused by excessive yawning about 3 times a year
[15:38] {nemo} There's nothing like watching eyes cloud over as the soul leaves the body
[15:39] {Threei}  I think one of Steven King characters said something similar
[15:39] {nemo} He lives a couple of hours away
[15:39] {nemo} goes to a lot of Red Sox games
[15:41] {andj} I don't want to interrupt the conversation but how do you guys choose your stop percentages?
[15:41] {Les} NTES ran outta gas
[15:42] {nemo} visible support and resistance
[15:42] {nemo} then decide how much you want to risk between the entry and stop
[15:42] {nemo} Dino has very wide stops, relatively speaking
[15:43] {Threei}  111 trades, andj
[15:43] {andj} what page?
[15:43] {nemo} slap him
[15:43] {Threei}  everything about stop placement is in those setups
[15:43] {andj} sorry...
[15:43] {Threei}  no page - each setup dictates it, and there is general article explaining the principle,
[15:44] {andj} does the stop vary according to the price of the stock?
[15:44] {Threei}  located at
[15:44] {Threei}  http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[15:44] {Threei}  no
[15:45] {Threei}  stop placement is dictated by chart
[15:45] {andj} I though stops are a money management principle...
[15:45] {Les} FDX rinse... how rude
[15:45] {Threei}  they are
[15:45] {Threei}  read that article
[15:45] {Threei}  you'll find answers tpo all your questions
[15:45] {andj} but not my actual account balance then?   I will read it.
[15:46] {Threei}  yes, that too
[15:46] {Threei}  but that is in that artivcle as well :)
[15:47] {andj} i'm reading right now:)
[15:48] {Threei}  as if on purpose, the part tying together account size and stop size is at the very end, lol
[15:49] {Threei}  "Germans will have to get used to their new role: We have become the Americans of Europe."
[15:49] {Threei}  heh... good one
[15:49] {dino} andj, my stops are wider but my share size is smaller than most. but never take a stop bigger than $250, ideally under $150. it's a 1:1 r/r theory (vad taught me). generally i want .30 on a trade so my stop is around .30 (but check obvious support/resistance and modify a few cents)
[15:50] {dino} mgm drop
[15:52] {andj} so the stop is in place just in case the chart pattern doesn't work 
[15:52] {andj} and then also to be sure that it won't kill your account...right?
[15:53] {dino} yes, because if it is not there, you can bet your azz it will kill you
[15:53] {Threei}  and it will do so in a very evilish way:
[15:54] {Threei}  it will forgive you a few times, to lure you into false sense of safety,
[15:54] {dino} out hbc .94, +.03
[15:54] {Threei}  and when you make it a habit to ignore stops "because it always comesa back" - that's when it won't
[15:54] {andj} that's what i'm really worried about. false security.
[15:54] {Threei}  and will go against you until it destroys your account
[15:55] {andj} i feel a little smarter...thanks.
[15:55] {Threei}  so keep your stop religiously
[15:55] {Threei}  it's just not a matter of discussion, thinking or playing around
[15:55] {Threei}  your stop is hit - you are out, end of story
[15:55] {dino} anything can happen, thats why i use hard stops
[15:56] {andj} so vad, i', sure the answer will be 111 trades but I still have to ask the question...
[15:56] {andj} how do you choose which chart pattern to go with throughout the day?
[15:57] {Threei}  I don't
[15:57] {Les} sigh FDX 1:3
[15:57] {Threei}  I can't foresee what kinf od day qwe are going to have
[15:57] {Threei}  I start with some working assumption,
[15:57] {andj} well in the present tense?
[15:57] {Threei}  and make my first trades based on that
[15:57] {Threei}  it confirms itself or not
[15:57] {andj} good job Les
[15:58] {Threei}  and I correct the course
[15:58] {andj} the first trade or the market?
[15:58] {Les} fishing analogy andj.... this one got away
[15:58] {Threei}  assumption is about market,
[15:58] {Threei}  trades are picked according to thatassumption,
[15:59] {Threei}  then I see whether market doesa what I expect and whether my tradesd are working
[15:59] {nemo} what about the dart board above the computer?
[15:59] {Threei}  quality of assumption changes with experiwnce
[15:59] {Threei}  shhhh nemo... couple more words and ypu will give up my most secret weapon, chicken entrails
[16:00] {dino} some days it might as well be the dartboard, lol
[16:00] {nemo} yeah, getting the blood out of the keyboard though...
[16:00] {Threei}  well... then there are tea leaves
[16:00] {andj} Thanks:)  You guys are never boring...
[16:00] {Threei}  ok guys, thank you all,
[16:00] {dino} still like the coin toss in a jam, and don't forget magic 8 ball
[16:00] {Threei}  have a good evening, see you tomorrow
[16:01] {stewy} good night all
[16:02] {Les} cheers
[16:02] {dino} gn all