Thursday, May 10, 2012

May 10 2012

Very nice day with just one stop and a lot of nicely working ones. Got two charts to show. One is Catch of the Day:  Classic pullback entry, very small risk, 1:4 reward on large shares. 

[10:19] Long Setup: TZA .65 break
[10:20] If holds .60 
[10:23] let the panic begin
[10:23] offer half around .73
[10:23] 1/4 more around .77 - .78
[10:23] and let's try to ride last 1/4 to above .85
[10:25] out .86

Second is Miss of the Day! Beautiful setup that went unnoticed, saw it only after the fact. Posting it in educational purposes (and to pour some ashes on my head), leaving the arrows with no annotations, fill in the blanks

Session Time: Thu May 10 00:00:01 2012
[08:39] {nemo} anybody here to insult?
[08:39] {Threei}  feel free to insult everyone who is not here
[08:39] {nemo} true, can't defend themselves
[08:39] {Threei}  and I'll make sure they read it in the log later
[08:41] {nemo} guess it's oversold bounce day
[08:44] {Threei}  plus, 135 is a natural support for S{Y
[08:44] {Threei}  SPY
[08:45] {nemo} the lows the last two days were significant fib extensions, to the penny
[09:03] {scottie} good morning
[09:04] {Threei}  morning scottie
[09:07] {thomcbell} gm
[09:08] {Threei}  tbell :)
[09:08] {Threei}  missed very nice day yesterday
[09:08] {thomcbell} oh i bet 
[09:08] {thomcbell} good to hear u guys did well
[09:09] {Threei}  normally do on red days
[09:10] {cipher} gm
[09:10] {Threei}  cipher :)
[09:17] {Threei}  84% Don't Think The United States Should Bailout Europe
[09:17] {Threei}  duh
[09:17] {Threei}  as if it could even if it wanted
[09:19] {dptl} gm
[09:19] {Threei}  dp :)
[09:20] {ese} mornin
[09:20] {Threei}  ese :)
[09:22] {Beau} good morning
[09:22] {ese} day lookin slightly up to you vad.........or still heading down
[09:22] {Threei}  beau :)
[09:22] {ese} beau
[09:23] {Threei}  looks to me like total knee-jerk reaction on each Greece-related headline or absence of such, ese
[09:23] {Threei}  nothing worsened overnight in there, so we gap up
[09:24] {Threei}  EFSF retreated and gave more money, despite all the tough talk, so catastrophe is p;ostponed once again
[09:24] {Threei}  any spooky line about next tranche, or impossibility to form EU-friendly government in Greece, adn we drop again
[09:25] {Threei}  hrere is the broader view on this situation:
[09:25] {Threei}  market "knows" this catastrophe is impossible to avoid,
[09:25] {Threei}  it can only be postponed,
[09:26] {Threei}  so while another step to postpon is is taken, market goes up,
[09:26] {ese} ya....i think in order for this thing to be resolved somebody has to loose holders are gonna have to bite it imo
[09:27] {Threei}  knowing that at some point it will need to accomodate the reality, it trades carefully and nervously, not to miss the moment when it's time to run for exit
[09:27] {Threei}  remember Judgement Day from Terminator? same idea... can't avoid, can only postpone :)
[09:27] {Threei}  they already did
[09:27] {ese} yup
[09:27] {Threei}  Greece settlement took what, 90% out of them?
[09:28] {ese} ok......i missed that
[09:28] {Threei}  more to come of course, Greece is not the only one
[09:30] {Threei} Short Setup: FCX  36 break hl
[09:30] {Threei}  Invalidated  
[09:31] {Threei} Short Setup: FCX  .15 break hl
[09:31] {Threei}  If holds  .20 
[09:32] {Threei}  no chance
[09:32] {nemo} trading spready
[09:32] {nemo} not much liquidity yet
[09:33] {nemo} look at that 
[09:33] {nemo} wow
[09:33] {nemo} I think I'll wait a few minutes for liquidity to come into the market
[09:34] {scottie} +.11 FCX ty
[09:34] {Threei} Long Setup:  SLW  .15 break
[09:34] {Threei}  grrr
[09:34] {Threei}  late
[09:35] {Threei} Long Setup:  SLW  .10 break
[09:35] {Threei}  what the deuce
[09:35] {Threei}  ok, in
[09:36] {Threei}  pulled back for us
[09:36] {ese} dino must be sleeping off the 19th hole from yesterday
[09:36] {Threei}  half out
[09:36] {ese} watching gca
[09:36] {Threei}  .09 stop
[09:36] {nemo} spy iwm DB formation or...
[09:37] {nemo} oh, bearded one is talking
[09:38] {ese} bearded one?
[09:38] {nemo} the Bernank
[09:38] {scottie} +.11 again ty
[09:38] {ese} ahhhhhh yesssssss
[09:39] {Threei}  nice scalping footwork scottie
[09:39] {ese} Mr "couldn't say anything positive to give mrkts confidence if my life depended on it" one
[09:40] {Threei}  markets don't care much about anything out of his mouth but "will inject more money or won't"
[09:41] {Threei}  as market influincing factor, Ben's role comes to another round of QE
[09:41] {Threei}  he promises it - market goes up
[09:42] {Threei}  you want him to promise more printing?
[09:42] {nemo} I want anarchy
[09:42] {nemo} I look forward to the days of raping and pillaging
[09:43] {nemo} oooohhh...
[09:43] {nemo} maybe that was a bit over the top
[09:43] {Threei}  (US) Fed Chairman Bernanke: Economy is stronger but mortgage credit is still tight- Improving credit availability will help the economic recovery become more robust.
[09:43] {Threei}  - Banks need to do more to help restore economy to health, do more to adapt to regulations.
[09:43] {Threei}  - Capital ratios and leverage ratios have improved for banks of all sizes, stronger banks should start expanding lending.
[09:43] {Threei}  - Pullback by European banks from US lending returns industrial and commercial loan business to US banks.
[09:43] {Threei}  - Uncertainty about the future of the GSE's, caution among lenders, and a slow recovery in the housing market are all constraining home mortgage lending.
[09:43] {Threei}  - Current mortgage standards may be limiting lending to creditworthy borrowers.
[09:43] {Threei}  - New rules designed to safeguard stability in bank system will be phased in gradually after consulting with the industry.
[09:46] {Threei} Long Setup:  FCX  .85 break
[09:47] {Threei}  If holds  .80  scalpers, .75 day traders
[09:49] {Threei}  1:1
[09:50] {RonS} fcx +.15  thanks 3i
[09:50] {Threei}  :)
[09:50] {Threei}  1:2, out
[09:50] {scottie} +.20 ty
[09:52] {Threei}  welcome guys
[09:54] {thomcbell} wynn day low 
[09:54] {thomcbell} lvs up 1.8% 
[09:55] {Threei} Short Setup: CAT  .95 break hl
[09:56] {Threei}  If holds  .05 
[09:56] {nemo} think spy goes to 137, likely to pull stuff with it
[09:59] {Threei}  1:2
[09:59] {Threei}  1:3, out
[09:59] {Threei}  it kind of skipped 1:1, lol
[10:00] {cipher} cov cat .65 thx
[10:00] {Threei}  wtg
[10:00] {ese} L cga .36
[10:00] {Threei}  100% day so far, no single stop
[10:00] {Threei}  let's go home?
[10:00] {cipher} lom i'm just getting warmed up
[10:00] {cipher} lol
[10:01] {Threei}  ristorates... you missed all the good stuff
[10:02] {ese} expect nothing less cheif
[10:02] {Threei}  no pressure eh?
[10:02] {ese} chief
[10:02] {ese} nope.......none whatsoever.......gigle giggle,,,,snicker snicker
[10:02] {Threei}  :)
[10:04] {Threei} Short Setup: LVS  52 break
[10:04] {Threei}  If holds  .10 
[10:06] {Threei}  Invalidated  -  as if I needed to say it
[10:06] {thomcbell} obviously - love the obviously 
[10:07] {Threei} Long Setup:  X  .35 break
[10:07] {Threei}  If holds  .25 
[10:08] {Threei}  target 1:3
[10:11] {Threei}  SPY struggles
[10:11] {nemo} this area between .38-.56 on spy, 3 different supports
[10:12] {Threei}  X tries to be a salmon
[10:12] {Threei}  needs market help
[10:13] {Threei}  fights like champ but will get tired if help is not coming soon
[10:13] {nemo} my read market weakening, but might stay in tight range today
[10:16] {Threei}  no worky
[10:17] {Threei}  ok... first stop out of what, 6 trades? let's take a breather
[10:18] {nemo} kors has vacuum below 41
[10:18] {nemo} good night irene
[10:18] {Threei}  general feel is, in absence of new headlines market has topped for the day
[10:19] {Threei} Long Setup:  TZA  .65 break
[10:20] {Threei}  If holds  .60 
[10:22] {Threei}  still valid
[10:22] {cipher} kors s .82
[10:23] {Threei}  let the panic begin
[10:23] {nemo} where's your stop cipher
[10:23] {Threei}  offer half around .73
[10:23] {Threei}  here
[10:23] {Threei}  half out
[10:23] {Threei}  1/4 more around .77 - .78
[10:23] {Threei}  and let's try to ride last 1/4
[10:23] {cipher} .95 nemo
[10:24] {Threei}  to above .85
[10:24] {Threei}  not bad for 6 cents risk
[10:25] {Threei}  out
[10:25] {cipher} out 1/2 kors .50 +.32
[10:25] {Threei}  .86
[10:25] {Threei}  was it a pure beauty or what
[10:25] {scottie} +.13 ty
[10:26] {Threei}  :)
[10:26] {nemo} next improtant level kors is .10
[10:27] {Beau} .19 thanks vad
[10:27] {Threei}  welcome sir
[10:27] {cipher} out kors .40 +.42
[10:28] {cipher} kors l .42
[10:29] {cipher} ot 1/2 .60
[10:29] {cipher} out
[10:30] {cipher} out remainder .55
[10:31] {Threei}  visual:
[10:32] {Threei}  wtg cipher
[10:35] {cipher} aapl l 571.71
[10:39] {Threei}  Ladbrokes has suspended betting on a Greek exit after odds that it will happen this year surged to 50:1
[10:40] {Threei}  shrug
[10:40] {cipher} out 1/2 aapl 572.59 +.88
[10:41] {Threei}  for all practical intents and purposes Greece had already 1. defaulted and 2 left EU
[10:41] {Threei}  it's all about making it official
[10:42] {cipher} out remainder aapl .88 +1.17
[10:43] {cipher} calling it a day (good one)
[10:44] {cipher} see ya tomorrow
[10:44] {Threei}  take care cipher, gj
[10:48] {ese} gotta go all....i have a group from Ottawa to stay with my band for a week....til next wednesday.....may pop in and out to say hello............AND THEN!!!!!!!!!!!!
[10:49] {Threei}  have fun ese
[10:49] {ese} i'm home free for the rest of the year............yeeeeesssssssssssssssss!!!!!!!!!!!!
[10:49] {nemo} oh joy
[10:49] {ese} can't wait for the summer so that i can be full time on the board
[10:50] {nemo} having heart palpitations
[10:50] {ese} and i'm gonna spend it all with you nemo!
[10:50] {Threei}  lol
[10:50] {nemo} faint
[10:50] {Threei}  nemo is flopping on the floor
[10:50] {ese} lol
[10:50] {ese} cya
[10:50] {nemo} is he gone?
[10:50] {Threei}  hmmm
[10:51] {Threei}  it's about 30 min drive for me to check, nemo
[10:51] {nemo} can you give me the contact info on that monastery in tibet?
[10:51] {Threei}  all-female one? sorry, no... it's my last resort
[10:51] {nemo} mmhhh, watching for spy or iwm bounce play here
[10:57] {Threei}  10:18] {Threei} general feel is, in absence of new headlines market has topped for the day
[10:57] {Threei}  right read so far
[10:58] {thomcbell} looking for lvs long setup 
[10:59] {thomcbell} would like to see a tight range develop between 51.40 (pivot0 and 51.55 
[11:09] {thomcbell} wow fcx 
[11:10] {Threei}  wow... dino finoshed that course finally
[11:17] {thomcbell} still nothing on lvs 
[11:18] {thomcbell} a flush down to 51 could get interestting
[11:46] {Threei}  (GR) Democratic Left leader Kouvelis has proposed a unity Govt to last until 2014 and keep Greece in the Euro; calls to abandon bailout deal and negotiate a 'disengage' from bailout program
[11:46] {Threei}  **REMINDER: with this proposal for a unity govt, the Democratic Left is indicating that he would only likely participate in a broad unity govt. Earlier rumors had speculated that the Democratic Left could throw its votes in with the PASOK and New Democrat parties to form a pro-euro coalition.
[11:47] {Threei}  he really has no idea what he is talking about eh
[11:47] {Threei}  if they abandon bailout, how do they pay or roll over bonds
[11:48] {nemo} yeah, I was reading his clue as to how markets work
[11:48] {Threei}  and if they want to do that without bailout funds, they need their own currecny
[11:48] {Threei}  so, staying in Euro and abandoning bailout are mutually exclusive
[11:49] {nemo} he thinks the EU needs Greece more than Greece needs the EU
[11:50] {Threei}  (GR) EU's Barroso: Greece may need to leave the EMU if it does not satisfy its agreements - TV interview -
[11:50] {Threei}  Follow up: Sources indicated that the �435M Greece bond payment on May 15th is "up in the air"
[11:51] {Threei}  one thing financial crisis really helped us with: we now have clear idea just how clueless people running the sahow are
[11:51] {nemo} yeah but the lumpens voting them in are even more clueless
[11:54] {RonS} Nigel Farage nails it (again):
[11:57] {Threei}  I really like this guy
[12:05] {Threei}  see this drop?
[12:05] {Threei}  here is headline that caused it
[12:05] {Threei}  (GR) Greece Pasok Official: Syriza party must be part of any coalition Govt
[12:25] {dino} becn sm l .21
[12:25] {scottie} .
[12:36] {Threei}  no readable action at the moment
[12:39] {dptl} vrtx long .34?
[12:39] {Threei}  nah
[12:39] {Threei}  50/50
[12:40] {dptl} ok ty
[12:40] {Threei}  guys, I'll have to leave fir an hour - 90 min
[12:40] {Threei}  got a meeting to attent
[12:40] {Threei}  be back before action resumes
[12:40] {scottie} bye
[12:44] {nemo} vrtx getting tight enough for a good stop
[12:48] {dptl} did you take it , nemo?
[12:48] {nemo} yeah
[12:48] {dptl} :)
[12:48] {nemo} .31 have support there
[12:48] {nemo} down at .20
[12:49] {dptl} i'll see if it pulls back after that break
[12:53] {nemo} Europe closed up big, it should pull us along
[12:56] {nemo} taking half here
[13:01] {thomcbell} long setup crm 137.01 break if holding 135.60
[13:02] {thomcbell} 136.60 reather
[13:04] {thomcbell} made a sale 137.50 crm
[13:06] {nemo} I'm out the rest here at the pivot
[13:12] {thomcbell} making another 1/4 sale on crm here 137.30
[13:12] {thomcbell} stop to 136.90 on balance 
[13:15] {thomcbell} offering 1/4 at 137.9 
[13:15] {thomcbell} crm
[13:15] {thomcbell} sold stop on last quarter to 137.39
[13:15] {thomcbell} sell stop - sorry for typos
[13:16] {thomcbell} offering last bit crm 138.30 
[13:19] {thomcbell} crm to 138
[13:20] {thomcbell} out crm 
[13:33] {dptl} got to go....see ya tomorrow all
[13:34] {scottie} bye
[13:38] {Threei}  back
[13:39] {Threei}  didn't miss much I see
[13:39] {nemo} me and dp took that vrtx trade
[13:39] {nemo} thom did crm
[13:41] {Threei}  cool
[13:56] {Threei} Long Setup:  TZA  .60 break
[13:56] {Threei}  If holds  50 
[13:57] {Threei}  1:1
[13:57] {Threei}  in a blink of eye
[13:57] {Threei}  uncharectistic for TZA
[13:57] {Threei}  but I won't reject easy money
[13:59] {Threei}  *(US) APRIL MONTHLY BUDGET STATEMENT: +$59.1B V +$30.5BE
[14:00] {Threei}  - Receipts: $318.8B v $289.5B y/y - Outlays: $259.69B v $330B y/y (first budget surplus in 43 months)
[14:00] {Threei}  **NOTE: Because of the large inflows of tax revenues, the federal government usually runs a budget surplus in April -- though that did not occur in 2009, 2010, and 2011 due to the financial crisis and extraordinary spending measures.
[14:01] {Threei}  To put it simpler: we ran out of entities to bail out, so we spent less this April
[14:31] {nemo} spy looks week, but, probably looks weak to everybody
[14:33] {Threei}  guys, can I brag a little?
[14:33] {scottie} go ahead
[14:33] {nemo} fcx
[14:33] {Threei}  one of the biggest tourist attractions in Victoria commisione a photobook from me about them
[14:34] {nemo} oh boy, do I have a crack for that one
[14:34] {nemo} over the top though
[14:34] {Beau} congratulations vad.
[14:34] {Threei}  ty
[[14:35] {scottie} So you might leave your day job to become a full time photographer
[14:35] {Beau} just don't put a pic of nemo in the book
[14:35] {Threei}  lol... not bloody likely
[14:35] {Threei}  they saw my 2 books
[14:35] {Threei}  victoria and sidney through the lens
[14:35] {nemo} nice one Beau
[14:35] {Threei}  and calendar
[14:36] {Threei}  said, do the same specific for us
[14:36] {RonS} pcar drop on sec investigation...
[14:39] {nemo} Hey Beau, I get the feeling that comment is like the pot calling the kettle black
[14:39] {Beau} you got that right
[14:40] {Beau} have something in common--noone wants our picture except the police
[14:40] {nemo} they already have mine
[14:41] {nemo} funny stories
[14:41] {nemo} my grandfather was Chief of Police in the next town over
[14:41] {nemo} My grandmother would drop us off to visit
[14:41] {nemo} We'd sit in his office, my brother and I
[14:41] {nemo} Then he'd have to go to a meeting
[14:42] {nemo} He'd handcuff my brother and I by our feet (our hands were too small) to the chair and tell his secretary to keep an eye on us until he got back
[14:42] {nemo} Then, when they built the new police station
[14:42] {nemo} My grandmother would drop us off, and when he had to go to a meeting, if there was an empty cell, he'd put us in it
[14:43] {nemo} You're 8 years old and the drunk in the cell next to you has the DTs
[14:43] {nemo} He had a wicked sense of humor, my mother didn't appreciate it
[14:43] {RonS} lol
[14:43] {nemo} I think there was a method to his madness also
[14:44] {nemo} but he was a wicked tease
[14:44] {nemo} great guy though, I had a second set of parents growing up
[14:44] {Beau} heck of good lesson to walk the straight and narrow, as they say.
[14:45] {nemo} yeah, that was kinda' the method
[14:45] {nemo} Funny....became a cop in the late 30's after running booze during prohibition...go figure
[14:46] {nemo} Come to think of it, my father's parents, when they lived in NY,NY ran a speakeasy during prohibition.
[14:46] {nemo} THey had to move to MA though.  Couldn't make a profit carrying all the cops on the take
[14:48] {nemo} Actually, great story about my gramps as a detective
[14:49] {nemo} There was this pedophile child killer case back in the 50's
[14:49] {nemo} two or three kids I think.  My grandfather kept the guy in the interrogation room for three days
[14:49] {nemo} couldn't get away with that now
[14:51] {nemo} might see a little iwm spy bounce here
[15:01] {nemo} spy volume picking up 
[15:05] {Threei}  ok... looks like down for the end of day
[15:06] {nemo} this right here is interesting spot for spy, and iwm
[15:06] {nemo} retracement and vwap for iwm, retracement for spy
[15:06] {Threei} Long Setup:  FAZ  .74
[15:06] {nemo} trend support on iwm .85 for spy .05
[15:06] {Threei}  If holds  .70  scalpers, .65 day traders
[15:12] {nemo} o.k. so there is some significance to this spy retracement
[15:22] {Threei}  half out FAZ
[15:27] {nemo}
[15:31] {Threei}  who would have thought there was a method to track down the % of people who never come out of coma:
[15:31] {Threei}  37% Give Obama Positive Marks on Economic Issues
[15:32] {_ristorates} should be 5% lol
[15:32] {Threei}  and even hat on a good day
[15:33] {Threei}  that
[15:45] {Threei}  out in full
[15:46] {_ristorates} nice trade.  Great patience.
[15:47] {scottie} wasn't enough confident. went out at .69 hit me someone
[15:47] {Threei}  not so much patience as coma
[15:47] {_ristorates} either way it worked. :-)
[15:49] {scottie} Great day anyway. Thanks Vad.
[15:49] {Threei}  :)
[15:50] {_ristorates} Is there anyone I can talk to offline about trading systems etc..?
[15:51] {Threei}  offline?
[15:51] {_ristorates} over the phone
[15:51] {Threei}  what's wrong with right here?
[15:51] {nemo} dart and dartboard?
[15:51] {Threei}  over the phone you'd have to endure my unholy accent
[15:51] {_ristorates} ok.  I am signing up for TD Active trader
[15:51] {nemo} it's hrrible
[15:51] {_ristorates} lol
[15:51] {nemo} for a trading platform?
[15:51] {_ristorates} yes
[15:51] {Threei}  not a day trading broker really
[15:52] {nemo} you need a beating
[15:52] {Threei}  a bit slow
[15:52] {_ristorates} k
[15:52] {nemo} a bit
[15:52] {nemo} wtf Vad
[15:52] {nemo} a bit
[15:52] {Threei}  ok... really slow :)
[15:52] {_ristorates} recommendations
[15:52] {nemo} laser lightspeed Takion
[15:52] {Threei}  Laser is our preferred platform, message cc_8
[15:52] {_ristorates} k
[15:53] {Threei}  he'll help you set things up
[15:53] {_ristorates} k
[15:53] {cc_8} sterling is good too
[15:53] {Threei}  double-click on the username takes you to private message
[15:53] {_ristorates} tks
[15:53] {Threei}  could be... I am a laser guy :)
[15:54] {Threei}  wow FAZ
[15:54] {Threei}  had more in it
[15:54] {Threei}  good to see selling hitting the market
[15:54] {nemo} iwm at trend line
[15:55] {Threei}  if SPY loses 135 and closes under it... good night whathername
[15:55] {nemo} GS was the canary in the coal mine
[15:55] {nemo} near the lows all afternoon
[15:56] {Threei}  if this decline is Greece/EU related, I'd expect banks to lead the downside
[15:57] {Threei}  crap, GS had beautiful short setup at 107.25 break
[15:57] {Threei}  why didn't you mention it earlier
[15:57] {Threei}  dropped 40 cents in 2 bars after breakdown
[15:58] {Threei}  106.50 too
[15:58] {Threei}  look at that thing of beauty
[15:59] {Threei}  ok guys, thank you all
[15:59] {Threei}  have a great evening
[15:59] {scottie} gn
[15:59] {Threei}  see you tomorrow
[16:07] {Beau} nemo you still here
[16:07] {Threei}  wrong attention-getter
[16:07] {Threei}  here is right one:
06[16:07] * Threei slaps nemo around a bit with a large bottle of vodka
[16:08] {Beau} well I'll ask you vad.  tought you had left.your thoughts about IB for trading
[16:08] {Beau} interactive brokers
[16:08] {Threei}  not the worst, fasr from best
[16:08] {Threei}  far
[16:09] {Threei}  it's advantages: ujniverality
[16:09] {Threei}  universality
[16:09] {Threei}  any tool, any currency
[16:09] {Beau} speed?
[16:09] {nemo} hello what
[16:09] {Threei}  speed is below what you'd want for a fast market
[16:10] {Beau} lazer can't handle an
[16:10] {Threei}  will be fine for a slower stocks
[16:10] {Beau} IRA
[16:10] {Threei}  no
[16:10] {Beau} or would be there
[16:10] {nemo} whoa, spy wtf
[16:11] {Threei}  can you just separate a sliver of the funds for this? you don't need much with laser
[16:11] {Threei}  generous margin
[16:11] {nemo} you rang?
[16:11] {nemo} who's looking for me
[16:11] {nemo} why
[16:11] {Beau} yea.  missed several triggers today.  Tax on withdrawal is problem.
[16:12] {nemo} 1 time problem
[16:12] {Beau} guess I could go 30 or 40 M but that is pretty low.
[16:12] {nemo} don't need that much
[16:12] {nemo} talk to cc_8
[16:12] {Threei}  seriously
[16:12] {Beau} 26 min for shorts be enough you think
[16:13] {Threei}  take 15, trade with 150K buying power
[16:13] {nemo} ???
[16:13] {Beau} regs require 26 min to short or borrow 
[16:13] {Threei}  they have no 25K rule
[16:13] {nemo} Beau...we know the score, pay attention
[16:13] {Threei}  different animal
[16:14] {nemo} we're inviting you over to the dark side
[16:14] {Threei}  15-20 will be quuite enough
[16:14] {nemo} Vad=Vader
[16:14] {Threei}  for both shorting and for decent buying power
[16:14] {nemo} actually more than enough
[16:14] {Threei}  yup
[16:15] {Beau} duh.  I'm slow too.  will check with cc_8.Thanks very much.
[16:15] {nemo} this isn't retail trading
[16:15] {Beau} Will follow up.  gotta run for appt.  grateful for input.