Tuesday, March 13, 2012

Mar 13 2012

Flat day with not much to report. Some wins, some losses, neither's exciting.

06[08:54] * Les slaps vad with a broken ISP connection
[08:54] {Les} VAAAAAD. You're back!
[08:54] {Threei}  if only that
[08:54] {Threei}  no power for 3-4 hours,
[08:55] {Threei}  then till the end of the day no TV, INternet or phone, as ISP's hub was totally taken out
[08:55] {Les} something was fried?
[08:55] {Threei}  really feel like on island :)
[08:55] {Threei}  probably
[08:55] {Les} back in the good ol' USSR
[08:55] {Threei}  even there I had 3 TV channels and phone :)
[08:56] {Les} lol
[09:00] {Threei}  how did the day go?
[09:02] {Les} quiet enough
[09:02] {Les} I returned from taxi dad to a couple of stocks that dino and magoo's brother were watching
[09:03] {Les} and managed to catch both for a trade
[09:03] {Les} so some good calls being made in the room
[09:03] {Les} Vijay as well
[09:03] {Threei}  great to hear
[09:04] {Les} weren't calls as such, but the log is great for catching up on what people were watching 10, 20 or even 60 minutes prior
[09:04] {Les} makes for useful place to start looking for setups
[09:17] {MigC}  good morning
[09:17] {Threei}  Migc :0
[09:18] {dino} gm
[09:18] {Threei}  dino :)
[09:18] {Les} RETAIL SALES (MOM)
[09:18] {Les} Actual: 1.1% Cons.: 1.0% Previous:  0.6% Revised from 0.4%
[09:18] {Les} for Feb
[09:18] {Beau} good morning all
[09:19] {Les} RETAIL SALES EX AUTOS (MOM) US for Feb
[09:19] {Les} Actual: 0.9% Cons.: 0.7% Previous:  1.1% Revised from 0.7%
[09:19] {Threei}  Beau :)
[09:19] {nemo} I guess to go along with global warming, we'll get August trading in March
[09:20] {Les} it's nice bloody weather
[09:20] {rambler} gm..
[09:20] {Threei}  rambler :)
[09:20] {andj} good morning
[09:20] {Threei}  did windstorm spared you yesterday?
[09:20] {Threei}  andj :)
[09:21] {Threei}  left me cut off of the world till 9 pm
[09:21] {rambler} I was out for a couple of hours.....then forced back to reality....
[09:22] {Threei}  power was out for about 3 hours... but ISP hub was fried, no internet phone or TV
[09:22] {Threei}  felt like on island
[09:23] {rambler} fantasy island...lol
[09:27] {andj} how do you use the pre-market action to gauge the opening direction of stocks?
[09:27] {dino} thought you were on an island?
[09:27] {Threei}  :)
[09:28] {Threei}  andj... look at the direction andf the size of the gap, look what index does for the last hour
[09:28] {Threei}  we have decent gap up,
[09:29] {Threei}  but SPY has been dropping steadily
[09:29] {Threei}  most probable course of action after the open is weak initial bounce, then retreat
[09:29] {Threei}  so, looking to short into bounce
[09:29] {andj} yea I saw that...sorry about your isolation yesterday...
[09:29] {Threei}  looking for meek stocks
[09:30] {andj} meek?
[09:30] {Threei}  FCX short into bounce is first idea
[09:30] {Threei}  SLW too
[09:31] {nemo} did the market open?
[09:31] {Threei} Short Setup: SLW  .80 break
[09:31] {Threei}  if stays under .90
[09:32] {Threei} Short Setup: FCX  .50 break
[09:32] {Threei}  if stays under .60
[09:34] {Threei}  SLW no go
[09:35] {Threei}  nor FCX
[09:35] {dino} fcx stop -.12
[09:37] {Les} l TZA .61 stop under.50 intraday trade
[09:37] {Threei}  ugh... LVS .20 break was the way to go
[09:39] {Threei} Short Setup: LVS  .70 break
[09:39] {Threei}  stop above .75
[09:39] {Threei}  target .35
[09:40] {rambler} come on ...fill
[09:40] {Threei}  first partial
[09:40] {Threei}  .68 fill here, rambler
[09:40] {rambler} got it
[09:43] {Threei}  second partial closer to .50
[09:43] {dino} atk sm l .98
[09:44] {Threei}  here
[09:44] {nemo} buying bullets dino?
[09:44] {Les} LVS RI .41
[09:44] {Threei}  not bad for 7-8 cents of risk
[09:44] {nemo} why did you call it Vad?
[09:45] {Threei}  let's try to cover last part under .40, stop is at .65 at this point
[09:45] {Threei}  here we go
[09:45] {Threei}  out
[09:45] {rambler} same...tks V
[09:45] {Threei}  :)
[09:45] {Threei}  what do you mean nemo?
[09:45] {Threei}  why did I call short?
[09:45] {thomcbell} very nice Vad
[09:45] {nemo} what was the call based on?
[09:46] {Les} half out tza .69
[09:46] {Threei}  70 cents spike, 8 green bars in a row - clearly time to start looking for reversal,
[09:46] {Threei}  then setup came in a form of hesitation above .70
[09:46] {dino} stop atk -.18, greed got me
[09:47] {Threei}  .75 top tested within 1 min,
[09:47] {Threei}  .70 support tested twice
[09:47] {Threei}  break becomes a trigger
[09:47] {Threei}  new high becomes a stop
[09:47] {Threei}  beautiful play on TZA Les
[09:48] {Les} ty
[09:51] {dino} invn sm s .20
[09:51] {Threei} Short Setup: X  .65 break half lot
[09:51] {Threei}  if stays under .75
[09:52] {thomcbell} wynn an animal
[09:53] {dino} atk gap 53.95 area
[09:56] {Threei}  invalidated
[09:56] {dino} cov invn .88, +.32
[09:56] {Les} last half tza out flat
[09:57] {rambler} beauty dino....
[09:57] {Threei}  wtg
[09:57] {Les} yeh, but unfortunately can't borrow INVN shares
[09:58] {Threei}  watching CAT
[09:59] {Les} TZA washout nice
[10:00] {Les} ALXN breaking down nicely, unlike yesterday
[10:00] {Threei}  *(US) MAR IBD/TIPP ECONOMIC OPTIMISM: 47.5 V 50.0E
[10:00] {Threei} Long Setup:  CAT  .50 reak half lot
[10:00] {Threei}  if stays above .40
[10:00] {dino} damn missed alxn
[10:01] {Les} yeh had to look it up in yesterday's log. forgotten the ticker
[10:01] {Threei} Long Setup:  CAT  .45 break half lot
[10:01] {dino} atk sm l .51
[10:01] {Threei}  if stays above .35
[10:01] {nemo} market dropping
[10:02] {dino} ioc spike
[10:02] {dino} pulp type
[10:02] {Threei}  if took it get out
[10:04] {cipher} invn l .79
[10:06] {dino} gmlp drop
[10:06] {dino} glng too
[10:06] {dino} glng sm l .50
[10:09] {Threei} Long Setup:  GLD  164 break small shares
[10:09] {Threei}  if stays above .85
[10:11] {Threei}  target 1:2
[10:11] {dino} out glng .84, +.34
[10:11] {dino} wow way too soon
[10:11] {dino} gmlp sm l .63
[10:13] {dino} out gmlp .95, +.32
[10:13] {Threei}  wtg
[10:14] {cipher} 1/2 out invn .00 +.21
[10:14] {dino} gj
[10:14] {cipher} thx
[10:15] {Threei}  GLD stop to under .90
[10:19] {Threei}  out
[10:23] {Les} sm s slw .30
[10:23] {Threei} Long Setup:  LVS  .80 if stays above .70
[10:23] {nemo} I tried that earlier
[10:24] {cipher} another 1/4 out invn .15 +.35
[10:25] {cipher} out in full .25 +.45
[10:26] {Threei}  invalidated
[10:26] {Threei}  wtg cipher
[10:26] {cipher} ty
[10:26] {nemo} FOMC we're likely done till then
[10:28] {Threei}  at the very least, expectations should be trimmed to scalps
[10:30] {Les} SLW stopped flat
[10:33] {Les} c u's for the close
[10:36] {dino} out gild .00, +.35
[10:36] {dino} +.34
[10:37] {Threei}  nice one
[10:39] {Threei}  LVS setup is back
[10:41] {Threei}  GLD got away
[10:44] {Threei}  Spain 10yr yield surpassed Italy's on March 2; currently ~5.1% to Italy's 4.86%
[10:44] {Threei}  I guess they compete between themselves for the title of the epicenter of the next shakup
[10:45] {Threei}  feel free to take scalp LVS
[10:53] {thomcbell} Have to go do kid stuff guys - some real nice trades last few days - good job all
[10:53] {Threei} Short Setup: AGP  .55 half lot
[10:54] {nemo} appointment trader
[10:54] {Threei}  that's why half lot
[10:54] {Threei}  if stays under .65
[11:00] {dino} rax spike
[11:03] {Threei}  1:1
[11:11] {Threei}  http://www.timescolonist.com/technology/High+winds+wreck+boats+topple+trees+houses+story+photos/6286062/story.html
[11:12] {Threei}  that's my yesterday's windstorm
[11:13] {dino} gmlp sm l .58
[11:14] {Threei}  andj, see pm please
[11:15] {vijay} good morning all.
[11:15] {Threei}  morning vijay
[11:15] {cipher} gmcr l .44
[11:17] {cipher} out .64 +.20
[11:18] {dino} gj
[11:18] {Threei}  nice and easy
[11:18] {dino} bumming i missed rax, was waiting at 55.20
[11:18] {cipher} thx
[11:18] {Threei}  well, as much as this stock can be easy, lol
[11:19] {Threei}  B.C. Hydro spokesman Ted Olynyk said the agency's internal communications referred to Monday's conditions as a "weather bomb," a description borne out by the more than 94,000 customers without power on Vancouver Island around mid-morning. In Victoria, 21,000 homes lost power.
[11:19] {Threei}  Read more: http://www.timescolonist.com/technology/High+winds+wreck+boats+topple+trees+houses/6286062/story.html#ixzz1p0iImHIF
[11:20] {Threei}  should I feel better that I was one of 94000? :)
[11:20] {dino} agp to .51
[11:21] {cipher} agp?
[11:21] {Threei}  you are ridning it dino :)
[11:21] {Threei}  riding too
[11:22] {Threei}  10:53] {Threei} Short Setup: AGP .55 half lot, cipher
[11:22] {Threei}  alert from earlier
[11:23] {cipher} I didn't take that one, sorry
[11:23] {dino} stopped agp +.03
[11:24] {Threei}  andj, you here?
[11:24] {dino} it trades in dimes
[11:24] {Threei}  yeah, I chickened out at 1:1
[11:26] {vijay} we did miss you Vad.
[11:26] {dino} out gmlp .89, +.31
[11:26] {vijay} yesterday
[11:27] {Threei}  sorry... couldn't be helped
[11:27] {Threei}  force of nature, you know
[11:27] {vijay} yes ...true
[11:28] {Threei}  but I did my best by giving 5 winning calls before losing connection to the world outside my window
[11:29] {vijay} :-)
[11:43] {Threei}  President Obama confirms the US will bring rare earth materials case to the WTO today- Our energy future is too important to allow industry to take root in another country because that country has been allowed to break the rules on trade
[11:43] {nemo} yeah, like they'll get China to loosen up on that
[11:44] {Threei}  Earlier today reports indicated the US plans to launch a WTO suit against China over its rare earth export policies, suit to be supported by the EU and Japan
[11:46] {Threei}  wow
[11:46] {Threei}  what just happened
[11:47] {cipher} no idea but I just got in tza right before
[11:47] {Threei} Long Setup:  TNA  .50 break half lot
[11:47] {Threei}  if holding .40
[11:48] {nemo} .40 was vwa[
[11:48] {nemo} vwap
[11:49] {Threei}  valid again
[11:49] {vijay} excuse my ignorance what is vwap and how do you use it?
[11:49] {Threei}  target .75
[11:53] {Threei}  1:1
[11:54] {Beau} i stp at38
[11:54] {rambler} same
[12:05] {dino} vijay, vwap at freestockcharts.com
[12:05] {Threei} Long Setup:  TZA  .55 break
[12:07] {vijay} Thx Dino
[12:10] {Threei} Long Setup:  REE  .45 breeak
[12:11] {vijay} tza
[12:11] {vijay} sorry
[12:11] {vijay} wrong window
[12:11] {Threei}  REE invalidated for now
[12:11] {nemo} cat
[12:11] {dino} np
[12:17] {andj} if TZA breaks what is the target?
[12:18] {Threei}  can't tell
[12:18] {Threei}  will try to comment on the go
[12:19] {Threei}  andj, see private message pls
[12:19] {andj} that's better for us newbies
[12:26] {dino} tudo crazy
[12:26] {andj} why is it that some times you are able to know the target and other times not?
[12:26] {Threei}  some have more or less clear structure oln that chart
[12:27] {Threei}  so they give a better idea of where the movement is likely to weaken
[12:28] {Threei}  in any case it's never about "knowing"
[12:28] {andj} then what is it about?
[12:28] {Threei}  retaher best assumption you can make judging the chart, the mood of the day
[12:28] {Threei}  in stock market just as in life you can't "know"
[12:29] {andj} so you can get a lot done if you can correctly judge and trade the mood?
[12:29] {Threei}  do you know tomorrow's weather, today's time of the trip from house to office, or trajectory of the brick falling from the roof while you walk by?
[12:29] {Threei}  not ikn any of those cases, but you still navigate things successfully
[12:30] {andj} to a degree
[12:30] {Threei}  mosly being dressed up right for the weather,
[12:30] {Threei}  mostly getting to the office in time
[12:30] {Threei}  and mostly avoiding a falling brick.
[12:30] {Threei}  Sometimes it doesn't work
[12:30] {Threei}  so there is a degree of uncertainty involved
[12:30] {andj} correct
[12:30] {Threei}  same with market moves
[12:31] {Threei}  you make your working assumption and go with it
[12:31] {Threei}  market proves you right or wrong
[12:31] {Threei}  you accept the outcome, learn fro it and move to the next one.
[12:32] {Threei}  The more experience you have, the more you study, thre more disciplined you are
[12:32] {Threei}  the better your assumptions become
[12:32] {Threei}  and you are able to utilize the market moves better.
[12:32] {Threei}  It;s never 100%, except on some days
[12:33] {Threei}  and there will be losing days, no matter how skillful you are
[12:33] {Threei}  but your average will be on a winning side
[12:34] {andj} ok
[12:34] {Threei}  You control your risk by not walking without helmet in a construction zone where bricks are more likely to fall
[12:34] {andj} statistical risk control
[12:34] {Threei}  right
[12:35] {andj} I´ve been thinking a lot about the statistics of trading
[12:35] {nemo} pot coming into support
[12:35] {andj} there's a lot that can be counted to measure and weigh actions
[12:36] {dino} probabilities
[12:36] {andj} right
[12:38] {nemo} bounce play around 43.05 pot might be worth it
[12:38] {dino} you will eventually have a good idea of the probability of an event happening if a stock does "x"
[12:38] {andj} so learning how to gauge the probabilities is a huge part of trading
[12:38] {dino} i call it gut feel
[12:38] {dino} yes, imo, for your particular "edge"
[12:39] {andj} imo?
[12:39] {andj} so your particular edge is like the setup that you focus on the most dino?
[12:39] {dino} in my opinion
[12:41] {andj} sort of like a style or way of doing your trading?
[12:42] {dino} yes, for me it is capitulation drops and euphoric spikes
[12:43] {andj} I could tell
[12:44] {andj} Those make some sense to me...It's Vad's bounce plays that kick my ass
[12:45] {Threei}  why?
[12:45] {andj} maybe I'm dislexic
[12:45] {andj} buy and sell get all confused to me at that speed
[12:46] {dino} gotta hop, back in 30 or so
[12:47] {Threei}  it's easy... green alert = buy, red alert = sell
[12:48] {andj} I can still loose with buy and sell.  I'm not trying to justify it...I just suck at it.
[12:49] {vijay} pot no go dino?
[12:49] {andj} I do better when there is a target in mind...helps with the emotional control
[12:49] {Threei}  even if there is no target indicated, you have the structure with 1:1, 1:2 etc
[12:50] {Threei}  TZA invalidated
[12:54] {nemo} sheesh, next level on spy 139.30
[12:54] {nemo} if it breaks here
[13:02] {Threei}  Fitch upgrades Greece to 'B-' from 'restricted default'
[13:02] {Threei}  ummmm
[13:02] {Threei}  Next morning: Fitch sobers up
[13:07] {Threei} Long Setup:  ATI  .70 break half lot
[13:25] {Threei}  invalidated
[13:37] {Threei}  TZA pullback under .40 will be interesting for long entry on .40 recross if stays above .35
[14:01] {Threei}  never gave us a chance eh
[14:01] {Threei}  and ATI... why didn't I think of fading it by shorting .50 break
[14:02] {Threei}  .60
[14:02] {nemo} thinking
[14:04] {Threei}  (US) Preview: FOMC rate decision due around 14:15ET
[14:04] {Threei}  - With the economic data showing steady improvement for the last several months and Europe stabilizing, no new policy initiatives are expected from the Fed today. A press report last week stirred the pot for QE3, reporting that Fed officials are considering a sterilization option for potential future bond purchases with the intent of easing concerns the newly printed money could increase inflation pressure. But the question of QE3 is expected to be put off until later in the year as the expiration of 'Operation Twist' approaches in June.
[14:04] {Threei}  - The focus today will instead be on the economic outlook in the policy statement. The Fed has been cautious about the outlook, even cutting its 2012 GDP forecast at the last meeting (though also cutting 2012 unemployment forecast), but may add some tweaks to today's statement to reflect the stronger data seen so far this year. If the FOMC becomes significantly less cautious about the economic outlook it would reduce market expectations for QE3, but the Fed is most likely to keep its options open today with no big revisions. On inflation the Fed may again tweak the description from "subdued" (vs "moderated" in the Dec statement), but is likely to maintain that inflation will run at levels at or below those consistent with the dual mandate.
[14:08] {andj} Vad...PM please
[14:16] {dino} .
[14:16] {Threei}  *FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED); REITERATES RATES TO STAY EXCEPTIONALLY LOW AT LEAST THROUGH LATE 2014; ECONOMY EXPANDING MODERATELY- Vote: 9-1 (Fed's Lacker, dissenting against an explicit timeframe for low rate pledge) - Discount rate unchanged at 0.75%
[14:17] {Threei}  - The Committee also decided to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction
[14:17] {Threei}  - Labor market conditions have improved further; the unemployment rate has declined notably in recent months but remains elevated. Household spending and business fixed investment have continued to advance
[14:18] {Threei}  wow GLD
[14:21] {Threei} Long Setup:  TZA  .45 break
[14:23] {Threei}  stop under .40 for scalpers, .35 day traders
[14:27] {Threei}  half out
[14:27] {Threei}  .52
[14:27] {Threei}  scalper be happy
[14:27] {Threei}  scalpers
[14:27] {Threei}  1:1 day traders
[14:28] {andj} nice one
[14:28] {Threei}  hoped to catch .40 with stop under .35, that would have been even bettre, and that was original idea of TZA trade
[14:28] {Threei}  but it happened too fast for reasonable entry
[14:29] {dino} ugl sm l .31
[14:31] {Threei}  look at gold
[14:31] {Threei}  this is gut-wrenching for goldbugs
[14:34] {dino} out ugl .07, -.23
[14:34] {Threei}  see that?
[14:34] {Threei}  mama
[14:35] {dino} yeah
[14:36] {dino} rinsed
[14:37] {Threei} Short Setup: CAT  .90 break
[14:37] {Threei}  half lot
[14:38] {Threei}  if stays under 112
[14:38] {Threei}  target .65
[14:41] {dino} ugl sm l .11 ave
[14:41] {Threei}  no go
[14:42] {dino} out ugl .57, +.46
[14:42] {Threei}  wtg
[14:42] {dino} ty
[14:43] {Threei}  ugh... rinse
[14:43] {Threei}  grrr
[14:44] {andj} This is all crowd psychology isn't it?
[14:45] {dino} it all is
[14:45] {andj} that's much easier then
[14:45] {dino} efficeint market theory is dead
[14:45] {Threei}  awwww... 1:2, and is on its way to the traget
[14:46] {andj} did it ever exist dino?
[14:46] {dino} in theory, my degree is finance. it was the only issue discussed. which of course is all wrong
[14:47] {andj} It's just more running and chasing than any efficiency right?
[14:48] {dino} definitely not efficient. many stocks move 10
[14:48] {dino} % in days, sometimes minutes
[14:49] {dino} gld lod
[14:51] {dino} omar spike
[14:51] {dino} omer
[14:52] {dino} ugl partial fill l .06
[14:52] {dino} ok
[14:55] {dino} tlt sm l .55
[14:59] {dino} out ugl .44, +.38
[15:01] {andj} so really then you can read the charts to reflect the pain and pleasure of the crowd...correct?
[15:01] {dino} tlt stop is .34 fwiw
[15:02] {dino} stopped
[15:05] {dino} i think you are over thinking it andj. i try to keep things simple. remember anything can happen. then teach yourself to recognize patterns, then probabity thinking will occur. but don't make it harder than it has to be. realistically, only one of two things can happen
[15:06] {andj} which are?
[15:06] {Threei}  you win or you lose
[15:07] {dino} you are right or wrong. when wrong only thing to do is get right or get out
[15:07] {dino} do NOT overthink getting out when you are wrong
[15:08] {andj} ok...keep my stops...I´m still a little confused on how to gauge them
[15:08] {dino} example, i was wrong 5 times today, big deal, my day is in the black within my goal area
[15:09] {Threei}  how to gauge what? stops?
[15:09] {andj} yes
[15:09] {Threei}  111 trades?
[15:09] {dino} vad's 1:1 stop lesson is how you do that. if you want a dime, your stop is a dime./...
[15:09] {Threei}  shows it exctensively
[15:09] {Threei}  extensively too
[15:10] {dino} ectensively too
[15:10] {andj} you start with the reward then that reflects the stop
[15:10] {andj} dino
[15:10] {Threei}  no
[15:10] {Threei}  other way around
[15:10] {dino} setups
[15:10] {Threei}  you determine a stop by the chart indication
[15:10] {Threei}  then drive reward from that
[15:10] {Threei}  derive
[15:11] {dino} learn from vad.
[15:12] {andj} dino do you have a 'number of times right vs. number of times wrong' goal as well?
[15:12] {dino} my stops seem wide (usually 30 cents+/-) but my share size is small (usually 400), so i risk $120-$135/trade on average, but then I must get .30+ for 1:1
[15:12] {Threei}  JPMorgan Chase and Co *TO INCREASE DIVIDEND 20% TO $0.30 FROM $0.25; AUTHORIZES $15B BUYBACK PROGRAM (9.3% of market cap)
[15:13] {dino} right vs wrong, no. sometimes i am very right (friday) other days i suck. but basically i can average weekly around 60 -66%
[15:13] {Threei}  can't believe this news spiked the market
[15:16] {andj} 66% of your traded capital?
[15:17] {dino} no. 60-66% right
[15:17] {dino} i.e 6 of 10
[15:18] {andj} how many trades do you do a day?
[15:18] {dino} 14 so far today
[15:18] {dino} 5 losers and one flat
[15:19] {dino} vad has a much higher hit ratio than i
[15:20] {andj} but that's really good for your fourth month
[15:21] {dino} roflol. 4th month! i've been day trading since 2000
[15:23] {andj} So this is your fourth month with Vad then...I remember you saying something like that.
[15:24] {Threei}  you confuse him with someone else andj
[15:24] {andj} sorry
[15:24] {dino} no, vad for i guess 6 years
[15:25] {Threei}  mama mia
[15:25] {Threei}  JPM/SPY
[15:25] {cipher} lol scalped jpm on the news for a measly .20
[15:25] {dino} gj
[15:26] {cipher} very bad job dino
[15:26] {cipher} shoulda pocketed at least a buck
[15:26] {dino} bummer
[15:26] {cipher} got in at 42.50
[15:26] {Threei}  gosh... no relief for goldbugs whatsoever
[15:26] {Threei}  look at GLD
[15:26] {dino} ugl lod
[15:27] {dino} wow buck spread
[15:27] {Threei}  cipher... I wouldn't beat myself up for that
[15:27] {Threei}  42.50 was overf a buck up from the beginning of a spike,
[15:27] {Threei}  and very shrp one at that
[15:28] {Threei}  it could have reversed on you just as easy, and your stop would be tough to manage
[15:28] {cipher} thx vad, now i feel a lot better :-)
[15:28] {Threei}  seriously... not saying just it to make you feel better
[15:28] {Threei}  remember main diff between professional and amateur?
[15:28] {cipher} i know
[15:29] {Threei}  amateur evaluates profit potential, professional evaluates risk
[15:31] {Threei}  in fact, had you reported taking 42.50 andf staying in for a buck more, my first thought would be "man, this kind of trades will get ikn big troubles"
[15:35] {Threei}  notice new dynamics guy
[15:35] {Threei}  Equities up. USD up. Gold down. Silver down. EUR down.
[15:37] {dino} bonds down
[15:38] {Threei}  yes
[15:43] {Threei}  not very delighted with today, about flat
[15:45] {dino} fed days are tricky
[15:45] {Threei}  and today this JPM thing added to trickiness
[15:46] {dino} wprt drop
[15:48] {dino} news wprt?
[15:49] {dino} sm l .01
[15:49] {Threei}  not that I see
[15:49] {dino} stop -.33
[15:50] {dino} sm l .51
[15:52] {dino} stop .35
[15:53] {dino} wtf
[15:53] {nemo} tomorrow likely big gap up after the world markets digest this
[15:53] {nemo} 84.25 likely on IWM
[15:54] {Threei}  (US) Senate proposal to provide tax breaks to natural gas trucks fails to reach 60 votes required
[15:55] {Threei}  but of course
[15:55] {Threei}  it's not ethanol
[15:55] {andj} have a good day all...thanks vad and dino for your insight
[15:56] {Threei}  OK guys, thank you all
[15:57] {Threei}  have a good evening
[15:57] {Threei}  see you tomorrow
[15:57] {dino} thats why wprt dropped
[15:57] {Threei}  yeah
[15:58] {dino} clne too
[15:58] {cipher} seems like it dropped before the news came out
[15:59] {Threei}  no... 15:46 is time stamp on that news
[15:59] {Threei}  I as late to identify it as a reason
[15:59] {Threei}  was'
[15:59] {rambler} took a small hit on wprt as well....roller coaster...lol
[16:00] {dino} ironic, the one thing that could create jobs and make us energy independent gets a no vote
[16:00] {Threei}  two, dino
[16:00] {Threei}  don't forget a pipeline
[16:00] {Threei}  a pattern forming, eh
[16:01] {dino} yes, thats right
[16:01] {dino} rather save an owl than feed a family
[16:02] {rambler} cya in the a.m......
[16:03] {Threei}  well, this way family will have an owl to eat
[16:03] {dino} gn all
[16:03] {Threei}  so it all wprks out