Session Time: Mon Apr 30 00:00:00 2012
06[08:56] * Les slaps nemo around a bit with a large trout
06[08:57] * Les slaps Vad around with a mug of coffee
[08:57] {Les} morning
[08:57] {Threei} ummmhh
[08:57] {Les} ah so you are alive
[08:58] {Les} thought those pork ribs would be the death of you
[08:58] {Threei} why would they
[08:58] {Les} because they pack the energy equivelent of an atomic bomb
[08:59] {Threei} very healthy food
[09:04] {dptl} gm
[09:04] {Threei} dp :)
[09:13] {scottie} gm
[09:17] {Threei} scottie :)
[09:19] {dino} gm
[09:20] {RonS} gm
[09:22] {Threei} dino, ron :)
[09:27] {Threei} looks like short is in order as opening play
[09:29] {Threei} giving a min or two for spreads to tighten
[09:29] {Threei} SLW .85 break if it waits for us
[09:29] {Threei} yeah right
[09:30] {Threei} and FCX, hopefully 38 break
[09:30] {Threei} Short Setup: FCX 38 break
[09:31] {Threei} another yeah right
[09:31] {Threei} Short Setup: SLW .85 break
[09:32] {Threei} If holds UNDER .95
[09:32] {Threei} change to .90 break
[09:34] {Les} missed tza
[09:34] {Threei} .96 stop
[09:36] {dino} out wdc from friday afternoon buy, +1.14
[09:36] {Threei} Short Setup: FCX .85 break
[09:36] {Threei} wtg
[09:36] {dino} ty
[09:36] {Threei} out SLW
[09:36] {Threei} FCX is two sided
[09:37] {Threei} .95 break long
[09:37] {Threei} SLW rinse
[09:40] {Threei} trail FCX to .91
[09:43] {Threei} out
[09:44] {Threei} *(US) APR CHICAGO PURCHASING MANAGER: 56.2 V 60.0E
[09:47] {Threei} Long Setup: GLD .80 break hl
[09:47] {Threei} If holds .70
[09:48] {Threei} target 1:3
[09:49] {Threei} Long Setup: TNA .50 break
[09:49] {Threei} If holds .40
[09:49] {Threei} change to .40 break
[09:50] {Threei} target .70
[09:50] {Threei} stop under .30
[09:50] {cipher} aapl l. 592.22
[09:50] {nemo} .60 level next support on IWM
[09:50] {cipher} out aapl 593.39
[09:53] {Threei} come on SPY, double botom time
[09:54] {Threei} nope
[09:54] {Threei} things don't work
[09:55] {Les} I had the first break at :49, but poor money management. Didn't take any off the table
[09:56] {nemo} no multi level support until .40 area for spy, price breakout .50
[09:56] {nemo} almost there for IWM
[09:58] {nemo} ok...deficate or get off the pot time for IWM here
[09:59] {Threei} Long Setup: TNA .10 break
[09:59] {Threei} valid again
[09:59] {Threei} first time was way too quick
[10:00] {Threei} If holds 59
[10:01] {dino} 07 fast red
[10:02] {Threei} last shake probably
[10:02] {Threei} gotta start bouncing for real now
[10:02] {nemo} spy acting well
[10:02] {Threei} target 1:3
[10:03] {nemo} mid 90's pivot and vwap
[10:03] {Threei} 1:1
[10:03] {nemo} vwap spy .mid 90s
[10:03] {Threei} 1:2
[10:04] {Threei} 1:3, out
[10:05] {dino} gj
[10:05] {Threei} ty... needed that
[10:05] {Threei} need couple more of such, lol
[10:06] {nemo} interesting to note: bounce was off IWM levels, not spy, likely means we're still risk-on
[10:06] {nemo} http://www.freestockcharts.com?emailChartID=265fa85f-81bb-42f6-98f9-6f58679ae993
[10:07] {Les} yeh noticed that. Was worried SPY would tear TNA anew one
[10:08] {scottie} Tried my first partialling out vad
[10:09] {Threei} worked?
[10:09] {scottie} half at +10 other half at +20 ty
[10:09] {Threei} :)
[10:11] {Les} shakeout in TNA here?
[10:11] {Les} nope
[10:12] {Threei} tough read on TNA
[10:12] {Threei} not sure
[10:12] {Les} lvs
[10:12] {Les} .90 break interest you?
[10:13] {Threei} not much
[10:13] {Threei} Long Setup: SLW .70 break
[10:13] {Threei} If holds .60
[10:14] {Threei} can't tell between a scalp only or more... your discretion
[10:14] {Threei} 1:1
[10:15] {dino} wcrx spike
[10:16] {Threei} 1:2, out
[10:16] {Les} all out
[10:16] {Les} yep
[10:16] {Threei} still in red but srting dminishes significantly
[10:16] {dino} crox sm l .00
[10:16] {Threei} sting too
[10:17] {Les} yeh, was gonna say one more for the road
[10:18] {nemo} what a perfect 2nd setup on tna and spy held the 10 min
[10:26] {Les} SLW .90 break?
[10:26] {Les} or better to wait the 30 break?
[10:26] {Threei} can't tell
[10:27] {Threei} SPY is unclear
[10:30] {Threei} *(US) APR DALLAS FED MANUFACTURING ACTIVITY: -3.4 V 8.0E
[10:30] {Threei} woow
[10:30] {Les} that's a slowdown
[10:30] {Threei} how's that recovery going
[10:30] {nemo} tza time
[10:31] {Les} daily shows resistance for TZA around .20
[10:32] {Les} .10
[10:32] {Les} here
[10:33] {Les} dunno what sort of support that is for the indexes Nemo? strong stuff?
[10:34] {dino} sbux sm l .05
[10:34] {Threei} Long Setup: TZA .05 break
[10:35] {Threei} If holds 18 scalpers .95 daytraders
[10:43] {scottie} target on TZA?
[10:44] {dino} mdrx
[10:44] {Threei} doesn't work
[10:44] {Threei} out
[10:44] {Threei} listless day
[10:47] {Threei} unreadable up and down with no rhyme or rhythm
[10:48] {Threei} if you held with stop under .95, exit as you see fit, I have no read here
[10:50] {Les} yeh Euro banks are all chop today
[10:51] {dino} mdrx sm l .70
[10:51] {Threei} with next weekend being quite critical point for EU, no wonder
[10:52] {dino} it's always a critical point for eu
[10:52] {andj} Hey all
[10:52] {Threei} hehe
[10:52] {Threei} hi andj
[10:53] {andj} Any luck so far?
[10:53] {Threei} well, two elections... and both don't look good for EU conhesiveness
[10:54] {andj} And that shakes people out of the market right?
[10:54] {Threei} I think we will see plenty of fear this week
[10:55] {Les} make it readable fear, cause this is just rude...
[10:55] {andj} What do you think about esrx short?
[10:55] {Threei} .60 break was good setup
[10:56] {Threei} here. I'd need either bounce or consolidation
[10:56] {andj} OK
[10:57] {andj} What about JPM .80 break short? or is it two sided?
[10:58] {Threei} short looks better to me
[10:58] {Threei} actually, aggressive entry
[10:58] {Threei} ,90 break
[10:58] {Threei} with .96 stop
[10:59] {Threei} Short Setup: JPM .90 break
[10:59] {Threei} If holds .95
[11:00] {Threei} Invalidated
[11:00] {Les} slw again vad. .90 break?
[11:01] {andj} oh well...
[11:01] {Threei} I'd rather try it long on pullback to about .80 than breakout
[11:02] {Threei} breakouts don't really work today
[11:02] {dino} wcrx sm s .99
[11:04] {Threei} get SLW on first strength
[11:04] {Les} vwap .77 slw
[11:04] {Threei} try to unload first partial near .90, hold the rst for the break
[11:05] {Threei} .75 stop
[11:05] {dino} wcrs cov/satop -.08
[11:05] {andj} so enter slw at .80?
[11:06] {Threei} I took .82
[11:07] {cipher} cat l .82
[11:12] {Threei} gutsy move cipher... but seems to start working
[11:12] {dino} out mdrx .00, +.30
[11:12] {dino} crox to .10
[11:12] {Threei} nice
[11:13] {dino} ty
[11:14] {cipher} out cat .80 -.02
[11:14] {dino} sbux to .30
[11:14] {Les} half at .88
[11:14] {dino} out sbux +.25
[11:15] {Threei} stop to .79 SLW
[11:15] {andj} do you have some rule about when to move a stop up?
[11:17] {Threei} of course... when 1:1 is reached
[11:17] {andj} even if the price pulls back?
[11:18] {Threei} after hitting 1:1?
[11:19] {andj} well slw pulled back just before 1:1...just asking
[11:19] {Threei} why before... it hit .89, right?
[11:19] {Threei} that's 1:1 for .82 entry with .75 stop
[11:20] {andj} ohhhh right...
[11:20] {Threei} plus, it held .80 on every pyllback, making it strong support
[11:20] {Threei} so, trail is certainly in order
[11:20] {Threei} and we planned to sell half near .90 from the get-go
[11:20] {dino} cpts spike
[11:20] {Les} call me a premature evacuator @.88 (first out the door;)
[11:21] {andj} I forgot about the smaller stop.
[11:25] {dino} out crox .20. +.20
[11:25] {Threei} scalpers win
[11:26] {dino} back in 10
[11:28] {andj} Vad would you mind taking a look at MAN...
[11:28] {Threei} if you insist... but I am as straight as they come
[11:29] {andj} I was afraid to ask...
[11:29] {Threei} breakdown candidate
[11:29] {andj} Just glad Nemo's not here...
[11:29] {Threei} lol
[11:29] {andj} right...is the better entrance .60 or is .55 good enough'
[11:30] {Threei} I would try .60 break, half lot
[11:30] {Threei} and if SPY looks good and it continues down, add half lot on .55 break
[11:30] {andj} going for .10?
[11:31] {Threei} with market help it could do much better
[11:31] {Threei} look at daily
[11:31] {Threei} nothing but air under this support
[11:31] {andj} it looks right on the edge...
[11:31] {Threei} yup
[11:34] {andj} got in at .59
[11:34] {Threei} for this first half keep .70 stop for now
[11:34] {Threei} if second prt triggers we will trail it from there
[11:36] {andj} ok
[11:38] {Threei} if breaks .55 from here, take second half and move a stop for the whole thing to .66
[11:38] {andj} market´s dropping a little
[11:42] {scottie} Gotta go now, thanks all, see you tomorrow
[11:42] {Les} cheers
[11:42] {Threei} take care scottie
[11:42] {Threei} if SPY loses .60, we are likely to see a nice juicy panic
[11:43] {andj} that would be nice
[11:50] {andj} sooooo slooooooow
[11:50] {dino} things seem slow today
[11:50] {Threei} well, look at SPY
[11:50] {Threei} locked
[11:52] {RonS} mnst halt on coke rumor...
[11:53] {Les} SLW
[11:55] {dino} just say "no to drugs" ron
[11:57] {Threei} lol
[12:03] {andj} almost stopped out..
[12:15] {Les} stopped. bottle is looking more interesting than this...
[12:22] {Les} 15 min MACD rolls up. Wouldn't be surprised by sudden thrust higher
[12:25] {dino} hum gap fill december
[12:25] {andj} out - .11
[12:28] {cipher} +.28 hum thx andj
[12:29] {cipher} meant to say dino
[12:29] {andj} is tyc ready for a short?
[12:29] {andj} right
[12:30] {Threei} chart is right
[12:30] {Threei} whether it works, well... you see how they work today
[12:30] {dino} gj cipher
[12:31] {Les} slw break
[12:31] {andj} yea...not so well for me
[12:52] {Threei} Long Setup: TNA .25 break
[12:53] {Threei} If holds .15
[12:54] {Threei} target .45
[13:00] {Threei} invalidated but on watch
[13:03] {Threei} Long Setup: TNA .20 break
[13:03] {Threei} If holds .10
[13:05] {Threei} invalidated
[13:16] {andj} les pm please
[13:27] {Threei} Short Setup: FCX .35 break
[13:36] {Threei} give me panic
[13:36] {Threei} lose that .60, SPY
[13:40] {Les} tighten stop to .41?
[13:41] {Threei} .42
[13:41] {Les} k
[13:50] {Threei} I need a pillow
[13:51] {Threei} I keep hitting desk with my chin
[13:54] {dino} ditto
[13:54] {Threei} have we mised the memo of August happening in April this year?
[14:01] {Threei} LOL:
[14:01] {Threei} Most lucrative autopsy ever? Madoff trustee has rung up $550 million in bills so far
[14:02] {dino} wow
[14:06] {Threei} disbursed only $330 million
[14:07] {Threei} I want that job
[14:07] {Les} thieves investigating thieves
[14:10] {dino} pretty much
[14:11] {Threei} hrd to believe how much time it takes for such a normally volatilie stock to move 10 cents
[14:18] {Threei} sigh
[14:18] {Threei} let me out of this planet
[14:18] {Threei} I don't like it today
[14:19] {dino} mind numbing
[14:26] {dino} chkp sm l .00
[14:31] {Threei} amazes me how many stocks are near the highr while SPY scraps the low
[14:33] {dino} ten blood
[14:33] {dino} chkp stop-.11
[14:37] {Threei} what do you know
[14:38] {Threei} that .60 break and ensuing panic is finally here
[14:38] {Threei} and I'll be darned if I saw how to utilize it
[14:54] {Threei} even panic is very sleepy, lol
[14:55] {Les} DE dbi?
[14:55] {Les} sleepy dbi
[14:55] {Threei} comatose
[14:55] {Threei} a bit too narrow...
[14:55] {nemo} no volume to read, sheesh
[14:56] {Threei} if we couldn't get 10 cents out of FCX with its range...
[14:59] {dino} ten sm l .85
[15:08] {dino} out ten .00, +.15
[15:09] {Threei} didn't expect such dead day... to me, this week looked like a goo time for fireworks
[15:09] {Threei} good
[15:09] {Threei} still does
[15:10] {Les} I've noticed that it is often a prelude to fireworks, such dead days
[15:10] {Threei} yup
[15:10] {Threei} probably just taking a breath... you know, like closing your eyes for a sec before that jump from the plane
[15:11] {dino} hitk drop
[15:20] {RonS} fcx ???
[15:20] {RonS} fat finger? flash crash?
[15:20] {Les} HFT
[15:22] {Threei} ?
[15:22] {Les} ?
[15:22] {Threei} what are you guys talking about?
[15:23] {Les} I'm just feeding off the sporadic communications so I don't fall asleep
[15:23] {Threei} I don't see anything out of the ordinary
[15:24] {Les} I think Ron is being facetious
[15:26] {RonS} show a tick to 37.37 at 3:19...fcx
[15:27] {Threei} not on my quotes
[15:27] {Threei} 3 cents candle
[15:53] {Threei} OK guys, that was disappointing day
[15:53] {Threei} tomorrow will be better
[15:54] {Threei} thank you all, have a good evening, see you tomorrow
[15:56] {dptl} gn all
