Tuesday, March 6, 2012

Mar 06 2012

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

Nice strong day, as it often happens on down market days for us. Also, changed somewhat morning strategy which helped increase win/lose ratio.

Session Time: Tue Mar 06 00:00:00 2012
03[08:45] * Retrieving #discussions modes...
[08:55] {Alert} Ah
[08:56] {Alert} Good morning
[08:56] {Threei}  wow... rescucitation helped?
[08:56] {Threei}  hmmm... not mirroring to floor
[09:04] {Threei}  Institute of International Finance say a Greek default would cost the banks �160bn
[09:04] {Threei}  that's all?
[09:04] {Threei}  default, print it and be done with it
[09:09] {dino} gm
[09:10] {Threei}  dino :})
[09:12] {Beau} good morning
[09:12] {Threei}  beau :)
[09:14] {MigC}  good morning
[09:17] {Threei}  migc :)
[09:21] {rambler} gm..
[09:21] {Threei}  rambler :)
[09:25] {Threei}  let's skip first minutes
[09:26] {Threei}  they are so hectic lately, it's almost entirely random
[09:26] {Threei}  then will either try to scalp a bounce or short into bounce, depending on what happens in first couple minutes
[09:29] {Threei}  GLD is getting destroyed
[09:29] {Threei}  so much for gold hedge
[09:29] {Les} guess gold ain't so valuable today
[09:30] {Threei}  nope, gold is out, seashell are in
[09:30] {Les} I like tulip bulbs myself
[09:30] {dino} gild gap fill 45.50
[09:31] {dino} 12890 dji filled
[09:31] {Threei}  FCX getting eaten alive
[09:31] {Les} SLW opened on 38.2 fib retracement
[09:32] {Les} of august lows
[09:32] {Threei}  let's try short first, bounces do not look convincing
[09:33] {Threei} Short Setup: SLW  .80 break
[09:34] {Threei}  stop .95
[09:34] {Threei} Short Setup: FCX  .10 break
[09:34] {Threei}  ugh, late
[09:35] {Threei}  if styas under .20
[09:35] {dino} gild sm l .00
[09:35] {Threei}  if gives second chance
[09:35] {Threei}  got some
[09:35] {Threei}  .08 and .07
[09:36] {Threei}  1:1
[09:36] {dino} meli sm l .92
[09:36] {Threei}  SLW stop to .91
[09:36] {dino} out meli .80, +.88
[09:37] {Threei}  wtg
[09:38] {Threei}  FCX 1:2, out
[09:38] {Threei}  SLW stop to .86
[09:38] {Threei}  time to start choking it
[09:38] {dino} ditched meli too soon
[09:39] {Threei}  SLW 1:1
[09:40] {Threei}  closed in full
[09:40] {Threei}  not sdure it's reasdy for more right now
[09:40] {dino} clf sm l .00
[09:40] {cipher} l tna .94
[09:41] {dino} out clf .33, +.33
[09:42] {dino} wow too soon again
[09:42] {cipher} ibm l .67
[09:43] {Threei} Short Setup: LVS  .20 break
[09:43] {Threei}  half lot
[09:43] {cipher} tna stopped -.24
[09:43] {Threei}  if stays under .30
[09:43] {Threei}  FCX, double bottom hunt
[09:44] {Threei}  need it under .90
[09:44] {Threei}  so it's holding .80 and crossing back above .90 for trigger
[09:45] {dino} fcx sm l .00
[09:45] {Threei}  no go LVS
[09:47] {dino} wlt sm l .68
[09:49] {Threei} Long Setup:  FCX  .90 break
[09:51] {dino} gdot sm l .00 ave
[09:51] {thomcbell} lvs relative strength
[09:51] {dino} that sucked
[09:52] {Threei}  1:1
[09:52] {Les} fcx vwap 39 out .99
[09:52] {Les} ty sire
[09:52] {Les} sir too
[09:52] {Threei}  yw
[09:54] {Les} Nemo's got monthly SPY levels marked in .10
[09:56] {dino} clf sm l .15
[09:57] {Threei} Short Setup: FCX  .80 break
[09:57] {Threei}  if stays under .90
[09:57] {Threei}  this one is not a scalp
[09:58] {Les} 50% fib retrace is .78
[09:58] {dino} out clf .40, +.25
[10:00] {Threei}  invalidated for now
[10:00] {nemo} resource stocks have been hit hard the last week
[10:00] {Threei}  (US) Defense Sec Panetta: US could take military action if all else fails to prevent Iran from gaining a nuclear bomb
[10:03] {dino} meli sm l .40
[10:04] {dino} out gdot flat
[10:04] {Threei} Short Setup: FCX  .90 break
[10:04] {Threei}  if stays under 39
[10:05] {Threei}  aggressive entry for ultimate .80 break
[10:05] {dino} out meli -.33
[10:05] {dino} wtf rinsed
[10:06] {Threei} Long Setup:  TZA  .75 break
[10:07] {Threei}  if stays above .70 scsalpers, .65 day traders
[10:07] {Threei}  no go FCX
[10:09] {Threei}  half out TZA
[10:09] {Threei}  let's see if we get .85 break and panic
[10:10] {Threei}  .74 stop for the balance
[10:10] {dino} out fcx .02, +.02
[10:11] {Threei}  SPY loss of 135 should seal the deal on panic
[10:12] {nemo} this is MPP on spy
[10:12] {Threei}  offer 1/4 more on TZA closer to .95
[10:13] {dino} meli sm l .46 ave
[10:15] {dino} out meli ave .90, +.44
[10:15] {Threei}  out 1/4 more TZA
[10:15] {Threei}  stop to .79
[10:16] {dino} out wlt .64, -.04
[10:19] {Beau} .
[10:19] {Threei}  this guy redefines "out of touch":
[10:19] {Threei}  (IR) EU Foreign Policy chief Ashton: Will not set any deadline for beginning or completeing talks on Iran's nuclear program- Does not expect to see full talks with Iran up and running for another year.
[10:19] {Threei}  for another year, eh
[10:21] {Threei}  TZA, decide to close or trail
[10:21] {Threei}  hard to tell
[10:21] {Threei}  if trailing, .89 now
[10:21] {dino} next gaps below 12421, 2547, 1325
[10:22] {Les} fcx
[10:22] {Threei}  and try for 1:4 at 21.15
[10:23] {Les} s fcx .78
[10:23] {Threei}  1:3
[10:24] {Les} 1:1 half out
[10:24] {thomcbell} not yet obviously but qcom on double bottom watch from here on down 
[10:25] {dino} meli sm l ave .02
[10:25] {Les} all covered .75 market turns up
[10:26] {thomcbell} qcom - never got anything to look at 
[10:26] {dino} damn wlt would have worked
[10:30] {Threei}  timely cover Les
[10:30] {Les} it's an issue I've needed to resolve
[10:31] {Les} don't like scalping but sometimes gotta act like one
[10:31] {Threei}  easy to resolve....
[10:32] {Threei}  don't think of it in terms of scalp;ing vs something else,
[10:32] {Threei}  and in terms of liking or disliking,
[10:32] {Threei}  instead, think of in terms of doing whatever chart tells you to
[10:32] {Threei}  leave definitions to analysts and touchy-feely stuff to, umm... I dunno
[10:33] {Threei}  to someone else
[10:34] {thomcbell} oh Vad give me a break qcom
[10:34] {Threei}  yeah
[10:34] {Threei}  no entry
[10:34] {Threei}  no setup
[10:34] {Threei}  just jumped
[10:40] {dino} out meli .55, +.53
[10:40] {dino} gotta hop for an hour
[10:43] {nemo} tza long here good bet
[10:43] {nemo} stop at vwap
[10:43] {Threei}  .85 break
[10:44] {nemo} .81 in
[10:44] {Les} aikido time back for close
[10:44] {nemo} break a finger
[10:44] {Les} piss off
[10:44] {nemo} 1/2 .86
[10:45] {nemo} stocks haven't really taken the elevator down, I fear a stall around vwaps today
[10:45] {nemo} MPP on spy is 135.09
[10:49] {nemo} 1/4 more .92 stop to .84
[10:51] {Threei}  out TZA
[10:51] {Threei}  all in all, day shapes up nicely
[10:53] {andj} Vad...good morning.
[10:53] {Threei}  morning andj
[10:54] {andj} I have a question...a novice one
[10:55] {nemo} don't stick your chin out like that
[10:55] {andj} the dow, spy and such markets are valued at a price...right
[10:55] {andj} nemo...give me a chance
[10:55] {nemo} it's tough
[10:56] {nemo} keep going
[10:56] {andj} how do the markets get their dollar value then...? are they sold as shares of their own market?
[10:57] {Threei}  I am not sure I understasnd
[10:57] {nemo} they are traded in futures markets and cash market...each has an influence on the value...supposedly they reflect the value of their underlying index components
[10:57] {Threei}  but most of all, I am not sure what it is you are trying to find out, as far as prctical trading goes
[10:57] {andj} and nemo...never answer one of my questions with 'dumb ass' at the end
[10:58] {Threei}  lol
[10:58] {Threei}  andj, zoom out a bit and ask yourself
[10:58] {andj} nemo's got it...i don't understand what the indexes are made up of.
[10:58] {Threei}  what is it you are after?
[10:58] {Threei}  studying theory of market structure?
[10:59] {andj} well you guys follow spy as 'the market'...but just what part of the market is it?
[10:59] {Threei}  take the equities course in nearest college, with full realization that it's absolutely useless for any practical intents and purposes
[10:59] {nemo} "dumb ass" is an exclusive term I only use with Les
[10:59] {Threei}  learning to trade and making money?
[10:59] {Threei}  stufy charts, setups and how to trade them
[11:00] {Threei}  SPY generally reflect general market direction
[11:00] {Threei}  some stocks follow it to the letter,
[11:00] {Threei}  some lag,
[11:00] {Threei}  some ignore it,
[11:00] {Threei}  andf it may change from dasy to day
[11:01] {Threei}  none of this is exact science,
[11:01] {andj} but is it a group of stocks or is it an average of their price or what?
[11:01] {Threei}  never was, never will be, not supposed to be
[11:01] {Threei}  SPY itself is an ETF
[11:02] {Threei}  reflecting the movement of stocks comprising S$P500 index
[11:02] {andj} there you have it
[11:02] {andj} it's like a derivative of the actual stocks
[11:03] {Threei}  out of two chunkcs of information I gave you,
[11:03] {Threei}  one being what SPY is
[11:03] {nemo} yeah...go out to the Investopedia website, they explain all this stuff
[11:03] {Threei}  and another being everything I said before that,
[11:03] {Threei}  which one do you think matters for your bottom line? :)
[11:03] {andj} the chart stuff on how to trade
[11:03] {nemo} chart formations and their relationships
[11:04] {Threei}  there you go
[11:04] {Threei}  focus on thing that matters, the rest will fall in line
[11:04] {andj} just trying to put the puzzle together
[11:04] {andj} I'll do that.  I trust you Vad....
[11:04] {andj} Nemo...not so sure
[11:04] {andj} just kidding.
[11:04] {Threei}  there are useful bits and pieces of information in everything, but the onl,y efficient method of learning is focvusing on what really matters
[11:04] {andj} You know your stuff
[11:05] {nemo} wow lord Vad(er) brought another one to the dark side
[11:05] {Threei}  yeah... it's nothing short of amazing how liberated people become when they conme to this realization
[11:05] {andj} and what matters is the chart patterns and learning how to trade them, correct?
[11:05] {Threei}  that what you just said is the major thing that matters
[11:05] {nemo} errr....everything
[11:06] {andj} I see that now
[11:06] {Threei}  not intellectualizing about oil peak, gold intrinsic value etc
[11:06] {Threei}  all that stuff is fascinating dinner conversation
[11:06] {nemo} well, sacrificing virgins, and dead chickens do come in handy
[11:06] {Threei}  well, for those who have no life
[11:06] {andj} that stuff's all garbage 
[11:06] {Threei}  but as far as trading goes - read charts
[11:07] {Threei}  watch news,
[11:07] {andj} Christ nemo...my mental picture of you...I'm not sure what to think.
[11:07] {Threei}  watch for charts saying something other than news says
[11:07] {nemo} hehehehe
[11:07] {Threei}  lol
[11:07] {nemo} I make Beelzebub look like a choirboy
[11:07] {Threei}  andj, the best way to keep your mental health is not to have any mental pivtures of nemo
[11:07] {andj} charts opposite the news?
[11:07] {Threei}  yes
[11:07] {andj} that's impossible vad
[11:08] {andj} why opposite?
[11:08] {Threei}  price-information divergence
[11:08] {nemo} Having said that, I do love bunny
[11:08] {andj} still don't know who or what bunny is
[11:08] {Threei}  read this:
[11:08] {andj} what does price information divergence tell us?
[11:09] {Threei}  http://blog.realitytrader.com/2008/10/information-price-divergence.html
[11:09] {Threei}  http://blog.realitytrader.com/2008/04/traders-job.html
[11:09] {Threei}  http://blog.realitytrader.com/2011/09/news-tradeem-or-fadeem.html
[11:09] {nemo} you on mibbit or mirc andj?
[11:09] {andj} mibbit
[11:09] {nemo} oh, nevermind
[11:10] {andj} i will read them.  give me a few minutes.
[11:10] {andj} how can I look at your pics nemo
[11:12] {nemo} http://www.flickr.com/photos/44905396@N02/5372933578/
[11:12] {nemo} http://www.flickr.com/photos/44905396@N02/6055953507/in/photostream/
[11:15] {andj} and here i had some mental image about you with playboy bunnies:)
[11:15] {andj} guess I was off...
[11:15] {andj} nice bunny
[11:16] {nemo} nephew saved it from a cat when it was so small it could walk down a toilet paper roll tube
[11:16] {nemo} Now the frickin' thing climbs up into my boxspring and files it's teeth on the springs in the middle of the night
[11:16] {andj} i had one when i was a kid...they are good pets
[11:17] {andj} I have a 5 year old boy and a 6 year old girl.
[11:17] {andj} I only have time for a fish as a pet
[11:17] {nemo} she's a wild rabbit genetically, so not very cuddly
[11:17] {andj} and he barely makes it
[11:17] {nemo} pirahna I hope
[11:17] {andj} it looks wild
[11:18] {andj} well now i have a better mental picture
[11:18] {Threei}  my feel is, we stay locked here for a while,
[11:18] {nemo} you have only a tiny window, hehehehehe
[11:18] {andj} and I still think highly of you nemo
[11:18] {Threei}  or maybe climb a l,ittle
[11:18] {nemo} yeah, Vad
[11:18] {Threei}  but breakouts are not like to work
[11:18] {nemo} oh
[11:19] {nemo} spy right on MPP
[11:19] {Threei}  scalps within a range, maybe
[11:19] {Threei}  smallish ones
[11:19] {Threei}  CAT is probably olne of better candidates
[11:20] {Threei}  simply because it has wider ranges todays
[11:20] {Threei}  bounce off .50
[11:20] {Threei}  got away
[11:20] {Threei}  no chasing
[11:20] {Threei}  let's see if returns there
[11:21] {Threei} Long Setup:  CAT  .60 break
[11:21] {Threei}  if holding .50
[11:21] {Threei}  half lot
[11:22] {Threei}  1:1
[11:24] {Threei}  1:2
[11:24] {Threei}  my a$$ is out
[11:25] {Threei}  relatively easy money
[11:25] {Threei}  the pleasure of this particular one is:
[11:25] {andj} so just to be thorough did any index have something to do with that call? 
[11:26] {Threei}  it came from the general big picture situation
[11:26] {Threei}  yes
[11:26] {Threei}  look at the SPY chart and knowledge of how it behaves lately
[11:26] {Threei}  gave an idea of what kind of market we are likely to have for the nearest time
[11:27] {Threei}  and I started to look for certain kind of pla
[11:28] {andj} so spy is just in most people's head as the market leader or does it have some other specialized impact on the market?
[11:28] {nemo} think of it as the tide
[11:28] {nemo} stocks are boats on the water
[11:28] {nemo} tide rises usually boats rise
[11:28] {nemo} tide falls usually boats fall
[11:28] {nemo} look for the boats that sink as the tide rises for shorts
[11:29] {nemo} and boats that float in the air when the tide sinks for longs
[11:29] {andj} that's very handy analogy 
[11:33] {Threei} Short Setup: CAT  .50 break
[11:33] {Threei}  half klot
[11:34] {Threei}  if stays under .60
[11:34] {nemo} trend line at .70 or so
[11:35] {Threei}  invalidated for now
[11:35] {Threei}  .50 is important support, this setup may return
[11:36] {andj} so is .60 the evidence of resistance at that point?
[11:36] {Threei}  was
[11:36] {Threei}  until got broken
[11:37] {andj} so it was the point of resistance and now there is a new point of resistance?
[11:38] {Threei}  not really, unless we look as far up as 107
[11:38] {Threei}  with some minor resitance levels along the way
[11:38] {Threei}  if CAT stays here for a min more, setup will reestablish itself
[11:39] {andj} so to revailidate that play you would be looking for more consolidation to form resistance?
[11:39] {Threei}  right
[11:39] {Threei}  bounced again
[11:40] {andj} so consolidation is important for safety?
[11:40] {Threei}  consolidation is a part of this kind of setup
[11:41] {andj} oh
[11:41] {Threei}  it forms levels of support and resistance that create trigger and stop points
[11:46] {Beau} .
[11:47] {Threei}  CAT gave no consolidation for the setup
[11:47] {Threei}  but .50 loss worked nonetheless
[11:47] {Threei}  oh well
[11:49] {andj} I will look in 111 trades for setups that do and don't require consolidation...
[11:49] {andj} I need to make myself a cheat sheet with all those points on it.
[11:54] {thomcbell} mnst acts well in here 
[12:06] {andj} So Vad...are there less opportunities in the afternoon or do you just slow down because you've already had several wins?
[12:09] {Threei}  less readable opportunities
[12:10] {Threei}  look how much narrower ranges become, movements are slower, volumes are less
[12:26] {andj} so you then spend a lot of time looking for opportunities and reading the news?
[12:29] {andj} is that right vad?
[12:30] {Threei}  well
[12:30] {Threei}  add sleeping, and yes, list will be comprehensive
[12:31] {dino} nbl sm l .50
[12:32] {andj} so you really have a nice, restful afternoon then?
[12:33] {Threei}  shrug
[12:33] {Threei}  deoends
[12:34] {andj} I ask because I'm trying to figure out what to do myself.  I have the most free time after 12:00 PM eastern time.
[12:35] {rambler} SLW double top...
[12:38] {Threei}  you have a lot of material to study, andj
[12:38] {Threei}  I see no problem for you to keep youself busy
[12:39] {dino} panl hl l .77
[12:39] {andj} true
[12:40] {andj} can I print a copy of 111 trades...the java version is killing me.
[12:40] {andj} or flash version
[12:41] {Threei}  nope... it's online only
[12:51] {andj} so would day trades be good in the afternoon?
[12:52] {Threei}  if right setup presents itself, sure
[13:00] {andj} am I going to wake you up by asking too many questions?
[13:00] {Threei}  no
[13:01] {Threei}  I lead a lot of acivities while in coma
[13:01] {Threei}  it will be just another one of them
[13:01] {rambler} Vad the multim tasker...lol
[13:08] {dino} panl stop -.34
[13:17] {Threei}  trying to get a sense, will we get a breakdown or stay in the range
[13:20] {dino} mdco drop
[13:20] {dino} sm l .25
[13:21] {dino} out .59, +.34
[13:22] {Threei}  instant gratification eh :)
[13:22] {dino} yeah
[13:28] {Threei} Long Setup:  TZA  .20 break half lot
[13:28] {Threei}  if stays above .10
[13:30] {Threei}  invalidated
[13:37] {dino} wow crr goes green
[13:39] {dino} meli sm l .33
[13:52] {dino} crr crrazy
[13:55] {dino} ipgp sm l .50
[14:00] {andj} So i'm reading the articles you sent earlier...
[14:01] {andj} How do I know which news is moving the market?
[14:01] {Threei}  sometimes you don't
[14:02] {Threei}  more often you get a sense of what's happening, from various sources
[14:02] {Threei}  normally, when something significant happens, we post it here
[14:02] {andj} I still have TTN and I also have WSJ online
[14:03] {Threei}  quite enough
[14:03] {Threei}  it will fall in place by itself, as you collect more experience under your belt
[14:04] {Threei}  TZA valid again
[14:04] {Threei}  for today for instance...
[14:04] {Threei}  if you went over routine set of sources, you could spot main market movers easily:
[14:04] {Threei}  Greece PSI developments, not going too well and making traders nervous
[14:05] {Threei}  and China economic slowdown
[14:05] {andj} I see it a little better now.  From a macro perspective...
[14:06] {andj} tza at what level?
[14:07] {Threei}  same setup
[14:07] {Threei}  .20 break
[14:07] {Threei}  if stays above .10
[14:10] {nemo} believe it or not, tna looking long here
[14:14] {Threei}  could be, it looks like two-sided
[14:14] {nemo} too much chop, but looks like spy going to vwap
[14:26] {dino} bvsn drop
[14:29] {Threei}  1:1
[14:31] {Threei}  anyone went for it?
[14:32] {Beau} tza?  yes
[14:32] {Threei}  :)
[14:34] {Beau} chickened out at 28
[14:34] {Beau} my badf
[14:36] {Threei}  remember all the presidential "China gets it, they expnad alt energy, we are at risk of being left behind"?
[14:36] {Threei}  DigiTimes: China Premier Wen cautioned against blind expansion of solar and windpower energy as part of his National People's Congress address (update)- Report indicating cautious comments suggests China may halt capacity expansion entirely.
[15:00] {dino} meli sm l ave .70
[15:05] {dino} out meli .49, +.79
[15:07] {Les} we in anything?
[15:08] {Threei}  just closed TZA for a scalp
[15:08] {nemo} coma
[15:08] {Les} sounds about right
[15:09] {Les} first impression is market up here into close
[15:09] {dino} panl sm l .45
[15:11] {dino} gdot sm l .65
[15:28] {Threei}  JOY is down 17% in approx 5 trading days
[15:29] {Threei}  tekll me there is no joke in there
[15:30] {Les} I like it's bounce potential here
[15:30] {nemo} wanna see bounce potential:  DE
[15:30] {Threei}  yeah, but there is 17% less joy in the market
[15:30] {nemo} hehehehehe
[15:30] {Threei}  sorry, horrible pun, but I can't help it
[15:31] {Threei}  my sense of humor is 14 years boy's level... on good days
[15:32] {Threei}  andj, you took that TZA trade?
[15:32] {Threei}  worked like charm
[15:33] {andj} I really wanted to but I missed it.
[15:33] {andj} I saw that it went well.  I looked away for a minute and it was over.
[15:34] {andj} I got a few this morning
[15:34] {Threei}  in such cases, look for second chance entry on pullback
[15:35] {Threei}  TZA gave it
[15:35] {Threei}  sometimes they just go, but often they return to pick you up
[15:36] {Threei}  anyway, if you got a few today... starting to get first feel for how the game is played?
[15:36] {andj} yes
[15:36] {Threei}  cool... I think I do too
[15:36] {andj} the picture is coming in a little clearer
[15:37] {andj} I think I will be able to look at the news without getting so frustrated as well
[15:37] {nemo} basically ignore it
[15:37] {Les} amen. I can't be frigged looking at market headlines
[15:38] {Les} what Vad's got to post is all we need
[15:38] {Les} speaking of which....
[15:38] {andj} I will need to be able to look multiple setups at one time.
[15:38] {Les} EU Announces Resumption of Talks with Iran
[15:38] {nemo} I would keep your information stream narrow if I were you
[15:38] {Les} I guess that guy was out of touch Vad
[15:38] {Les} What do they pay all these bureaucrats in Brussels for?
[15:39] {andj} me?
[15:39] {Threei}  he thinks they have a year to resume talks Les
[15:39] {Les} I guess if he's getting paid for it...
[15:40] {Threei}  I think he is either drunk, or never been sober
[15:40] {Threei}  wait.. are those really two different options?
[15:40] {andj} Lots of alcoholics in this chat room.
[15:40] {nemo} wrong...alcoholics go to meetings
[15:40] {nemo} I'm a drunk
[15:40] {Threei}  I am sober
[15:40] {nemo} you are a cretin
[15:41] {nemo} and all cretins are liars
[15:41] {Threei}  I disagree
[15:41] {Les} I don't drink and trade anymore andj...
[15:41] {nemo} Ucretinian
[15:41] {andj} This is Vad's 12 step program so that you can work and drink from home.
[15:41] {Threei}  12? you think we can count that far?
[15:41] {Threei}  our program is two steps
[15:41] {Threei}  1. buy
[15:41] {Threei}  2 sell
[15:41] {andj} Les I'd imagine that's a good idea
[15:41] {andj} 3. drink
[15:42] {Threei}  not necessatry in that order
[15:42] {andj} You're going to have to delete this again vad.
[15:42] {Threei}  no
[15:42] {Threei}  let the world kno who I have to deal with
[15:43] {andj} you mean nemo?
[15:43] {dino} out gdot .00, +.35
[15:43] {Threei}  including but not limited to
[15:43] {Threei}  wtg dino
[15:43] {Les} PANL VWAP .80
[15:44] {dino} ok
[15:44] {dino} out nbl .81, +.31 took all day
[15:44] {Threei}  oh boy
[15:44] {Threei}   I long forgot you entered that one
[15:45] {Les} look at JOY. Full of it here. Nice bounce
[15:47] {dino} ioc spike
[15:48] {andj} Vad do you look at trade the news in the evening? 
[15:48] {Threei}  yes, if I am near computer
[15:48] {Threei}  just to get general idea of what's happening
[15:48] {dino} panl out .84, +.39
[15:48] {andj} what are you looking for
[15:49] {dino} ax murderer market, "untrusting", so cutting them
[15:49] {Les} nj. I entered .51, dropped it on loss of .50 support
[15:49] {Threei}  general news, like Europe or Asia
[15:49] {Threei}  crisis... Greece...
[15:49] {Threei}  all this jazz
[15:50] {andj} then price divergence the next day?
[15:50] {Threei}  divergence or confirmation, whatever happens
[15:51] {Threei}  it helps put price movements in context
[15:51] {andj} makes a lot of sense.
[15:51] {Threei}  all news heandl,ines scream market is doomed,
[15:51] {Threei}  yet price holds and slowly climbs up,
[15:52] {Threei}  can you feel that naive news readers are being set up for slaughter?
[15:52] {Threei}  and slaughtered they were over last few months if they tried to short and hold
[15:52] {andj} that stuff is usually the big guys manipulating the market right?
[15:52] {Threei}  OK, giving you one more link
[15:52] {andj} cool
[15:53] {Threei}  http://blog.realitytrader.com/2009/08/manipulation-myth-and-reality.html
[15:53] {andj} i will read it
[15:54] {Les} don't need to andj. It's all the machines fault
[15:54] {andj} which machines les?
[15:54] {andj} like the flash crash?
06[15:55] * Les slaps andj around with a sense of naivety
[15:55] {andj} don't hit too hard.  I'm new at this.
[15:55] {dino} what does it matter what it is? just trade it
[15:55] {Threei}  "Turn the machines back on!!"
[15:56] {Les} forget it. Just trying to press Vad's button
[15:56] {Threei}  carewfull... you just might... :)
[15:56] {Les} http://www.youtube.com/watch?v=1mC4tu1NhUA
[15:56] {Les} still vivid in my memory
[15:56] {Les} I was here in this room as it went down
[15:57] {Threei}  ok guys, nice day today
[15:57] {Threei}  thank you all
[15:57] {Les} cheers
[15:58] {Threei}  have a good evening, see you tonmorrow
[15:58] {dino} thx all, gn
[15:58] {andj} good evening...I'm watching the video now les.  see you tomorrow.