Thursday, July 5, 2012

July 05 2012

Holiday trading, light and uneventful. Got a few good ones, got stopped on a few, finished slightly positive and bored to death.

Session Time: Thu Jul 05 00:00:00 2012
[08:38] {_dolores} hello gm :)
[08:40] {Threei}  good morning
[08:45] {_dolores}  read your website and heard your interview last weekend
[08:45] {_dolores} very good thxs
[08:45] {Threei}  hope you found it useful
[08:45] {_dolores} and very suedful
[08:45] {_dolores} useful
[08:45] {Threei}  :)
[08:45] {_dolores} saw the patterns very clearly
[08:46] {_dolores} what will help a lot
[08:46] {_dolores} tried to put a comment but not very good with technicalities
[08:46] {_dolores} don't think it went through
[08:46] {Threei}  seeing pattern, understanding the elements of a setup and discipline in execution...
[08:47] {Threei}  put these three together, and trading becomes much easier, less stressful
[08:47] {_dolores} definitelly yes
[08:48] {_dolores} wrote to charles to thank him and commented on that
[08:48] {_dolores} the stressles
[08:48] {_dolores} stressless
[08:55] {Threei}  the French government announced it was to increase taxes on foreign-owned second homes. Tax on rental income would rise from 20 per cent to 35.5 per cent, and capital gains tax on property sales would rise from 19 per cent to 34.5 per cent...The rise in tax on rental income will be retrospective, from Jan 1 this year
[08:56] {Threei}  so it begins
[09:00] {nemo} He announced other tax increases a few days ago
[09:02] {Threei}  ok... correction: so it contunues
[09:06] {Threei}  DE) German Chancellor Merkel: Germany entered into no agreements at recent EU Summit that go beyond current treaties- EU Summit agreements did not create shared liability, did not alter the bailout rules. - Joint liability for banks still is not allowed. - Germany did not take on any additional EU commitments.
[09:07] {Threei}  so what she is saying is: what on earth are you all blabbing about?
[09:10] {dino} gm
[09:10] {Threei}  dino :)
[09:16] {scottie} good morning all
[09:16] {ese} gm
[09:17] {Beau} good morning you all
[09:17] {_dolores} well cannot open the platform so need to wait for charles to be in
[09:17] {Threei}  scottie, ese, beau :)
[09:17] {_dolores} he is not available now
[09:17] {jackharry} gm
[09:17] {Threei}  jack :)
[09:19] {_dolores} ok now
[09:25] {dptl} gm
[09:25] {Threei}  dp :)
[09:27] {Threei}  so far things look like short is the way to start
[09:27] {Will49} gm
[09:27] {Threei}  Will :)
[09:28] {Threei}  let's wait out first min or two
[09:30] {Threei} Short Setup: FCX  35 break hl
[09:31] {Threei}  If holds  .10
[09:31] {Threei}  no go
[09:31] {_dolores} too fast that move
[09:32] {Threei}  that's why hl on first opening trades
[09:33] {ese} out ocz .31+15
[09:35] {Threei} Short Setup: STX  .75 break
[09:35] {ese} L sap .40
[09:36] {Threei}  If holds  .85
[09:36] {_dolores} triggered?
[09:37] {Threei}  yes
[09:37] {Threei}  target 1:2
[09:37] {ese} out 1/2 sap .48 +.08
[09:37] {dino} fire sm l .01
[09:37] {Threei} Short Setup: LVS  .70 break hl
[09:37] {_dolores} stop .86?
[09:37] {Threei}  right
[09:38] {Threei}  If holds  .80  LVS
[09:38] {Threei}  target 1:3
[09:38] {Threei}  1:1, first part out
[09:38] {ese} in full sap .50 +.10
[09:39] {Threei}  stop to .73
[09:40] {nemo} yeah, it's looking long possibly now
[09:41] {Threei}  stop STX
[09:42] {Threei}  LVS 1:2
[09:43] {nemo} .34 range in spy
[09:44] {_dolores} Missed LVS was thinking the other way around !
[09:44] {nemo} Vad, explain "thinking" to Dolores
[09:44] {Threei}  thinking? read the banner at the top of the room door
[09:44] {ese} L tot .38
[09:44] {_dolores} ws waiting above .70
[09:44] {ese} sm
[09:44] {_dolores} well next one
[09:45] {_dolores} pity great call vad
[09:45] {Threei}  why above? we go long on upward breaks, short on downward
[09:45] {_dolores} yes
[09:45] {_dolores} my mistake
[09:45] {Threei}  1:3, over and out
[09:46] {dino} out fire .37, +.36
[09:46] {Threei}  wtg
[09:46] {dino} ty
[09:47] {ese} out tot .33-.05
[09:47] {Threei} Long Setup:  POT  .50 break hl
[09:48] {Threei}  If holds  .40
[09:49] {nemo} mos too
[09:50] {nemo} very strange day
[09:50] {Threei}  a bit dizzy, yes
[09:50] {Threei}  well, digesting all those fireqworks eaten yesterday, you know...
[09:50] {nemo} but Summer holiday week trading at it's best...bottle of vodka at arms length....all set
[09:51] {nemo} look for IWM to bounce in .20 area for tna long
[09:51] {Threei}  if POT triggers, target will be .90
[09:51] {nemo} mos at whole number support
[09:52] {nemo} o.k. mos small .00
[09:52] {Threei}  if invalidates, will look for another entry
[09:52] {nemo} stop tight under .95
[09:53] {nemo} probably should be .89, but...I'm cheap
[09:53] {_dolores} it printed .39
[09:53] {_dolores} that invalidateed?
[09:53] {Threei}  not yet
[09:53] {_dolores} OK
[09:53] {nemo} that's encouraging
[09:53] {Threei}  barely touched under support, immediately bounced
[09:55] {Threei}  let's take that .60 POT
[09:55] {nemo} spy shaping up for bounce also, but not ready yet
[09:55] {Threei}  and catapult
[09:55] {nemo} if mos goes oveer .10 I'm adding
[09:55] {nemo} stop is .95
[09:55] {Threei}  or, in the spirit of holiday fireworks, iksplode
[09:55] {Threei}  I am sure that's how it's spelled
[09:55] {nemo} eqkzaktly
[09:56] {Threei}  or wait... eeqsplode?
[09:56] {nemo} thinkin tna long above .30
[09:56] {_dolores} stop?
[09:56] {nemo} in .31
[09:56] {Threei}  under .40
[09:56] {nemo} damn
[09:56] {nemo} stop under .20
[09:57] {nemo} ok...summer games
[09:57] {nemo} 2nd mouse gets the cheese trading
[09:57] {Threei}  .60 break is looking good on intraday and then .70 on daily, two-days break
[09:57] {Threei}  1:1
[09:58] {Threei}  first partil out, stop to .45
[09:58] {nemo} stop tna...had 1:1 too
[09:58] {nemo} out mos flat
[09:59] {dptl} etn 40 short?
[09:59] {dino} fire sm l .66
[09:59] {Threei}  (ES) Spanish 10-year gov't yield at 6.71% vs. 6.44 % pre- European equity open today
[09:59] {dino} lqdt luv today
[09:59] {Threei}  yes dp
[09:59] {Threei}  looks right
[10:00] {Threei}  *(US) JUN ISM NON-MANUFACTURING COMPOSITE: 52.1 V 53.0E
[10:00] {Threei}  trailing on POT is a little looser than normally
[10:00] {Threei}  to account for bigger target than normally
[10:01] {thomcbell} yes looks good on etn
[10:01] {Threei}  but this spanish bond kills the market
[10:01] {Threei}  scalpers win
[10:01] {_dolores} out
[10:02] {Beau} slow fills today??
[10:02] {_dolores} new entry of holds or leave it?
[10:02] {Threei}  no, let it be
[10:03] {Threei}  market losing support
[10:03] {Threei}  ETN is about to trigger
[10:03] {Threei}  slow one
[10:04] {_dolores} LQDT very nice comeback against the maket
[10:05] {thomcbell} slw nice bounce - nem green
[10:06] {Threei} Short Setup: CAT  .75 break hl
[10:07] {Threei}  If holds  .85
[10:07] {Threei}  1:1
[10:08] {Threei}  trail ETN to .06 IMO
[10:09] {Threei}  takes too long
[10:09] {dptl} ye
[10:11] {Threei} Short Setup: X  .20 break
[10:11] {Threei}  If holds  .25
[10:12] {Threei}  Invalidated
[10:13] {dptl} out flat etn
[10:14] {cipher} l tna .10
[10:14] {dino} pvh sm l .84
[10:14] {cipher} l aapl .25
[10:15] {nemo} .18 is pivot on iwm cipher
[10:15] {Threei} Long Setup:  OWM  .20 break
[10:15] {thomcbell} wow slw
[10:15] {Threei}  IWM, sorry
[10:15] {Threei}  If holds  .10
[10:15] {nemo} I'm feeling bear flag, but definitely not in sync today
[10:16] {Threei}  doesn't look like bear flag, broke downtrend line
[10:16] {nemo} wow offer tna
[10:16] {nemo} .30 was huge
[10:18] {cipher} out 1/2 aapl .28 +1.03
[10:18] {Threei}  wtg
[10:18] {cipher} out 1/2 tna .40 +.30
[10:18] {nemo} iwm good to .39
[10:18] {Threei}  1:1 is close enough for first partial
[10:19] {Threei}  or scalp
[10:19] {Threei}  your choice
[10:19] {dino} out fire .16 ave, +.50
[10:19] {Threei}  1:1
[10:20] {Threei}  great job guys, on many stocks
[10:20] {Threei}  FIRE, AAPL, TNA
[10:21] {scottie} out iwm +.10 ty
[10:21] {scottie} gonna scalp small lots for a while
[10:21] {Threei}  1:2, nemo nailed it
[10:21] {cipher} out remainder tna .60 +.50
[10:22] {Threei}  wtg
[10:22] {ese} L fcx .30
[10:22] {nemo} wouldn't say nailed it, just said it should at least get there
[10:22] {_dolores} today the othr way around
[10:22] {dino} out pvh .28, +.44
[10:22] {_dolores}  too ast the good ones
[10:22] {_dolores} !
[10:22] {_dolores} fast
[10:22] {Threei}  IWM gave ample time for entry...
[10:23] {ese} wow......nice work....those big numbers you get stun me.....awesome
[10:23] {_dolores} yes
[10:23] {ese} dino
[10:23] {_dolores} had it wrong symbol srry
[10:23] {_dolores} sorry
[10:23] {Beau} owm +.13 thx vad  meant iwm
[10:23] {nemo} dino, lqdt might stall around here
[10:23] {dino} thx ese
[10:24] {Beau} vg c
[10:24] {_dolores} good stop on CAT
[10:24] {ese} L sap .41
[10:24] {dino} watching it, still have calls on it
[10:24] {nemo} this is 38.2 retrace here
[10:25] {dino} 43.56 is the 20 day
[10:25] {nemo} right at 200 now
[10:26] {dino} have to tell you nemo, i realy like the vwap charts/
[10:26] {nemo} cool... gives you better sense of the geography
[10:26] {dptl} stz .20 long?
[10:26] {dino} seriously
[10:26] {nemo} spy probably wants .70 area
[10:27] {Threei}  no dp
[10:27] {Threei}  can't read it
[10:28] {nemo} spy going for it
[10:29] {nemo} spy topped at S1 on daily so far
[10:29] {nemo} whoa nflx
[10:30] {nemo} that spread is as variable as a ....nevermind, woman in the room
[10:31] {nemo} spy got .70
[10:32] {nemo} what with kohls
[10:32] {nemo} kss
[10:33] {Threei}  Kohl's Corp Reports June SSS -4.2% v -2.5%e- Guides Q2 EPS at low end of $0.96-1.02 range v 0.95e
[10:34] {nemo} that spy top was vwap and that recent retrace at 9:55
[10:34] {nemo} and it rips like that...strong market
[10:35] {nemo} one could argue fas long over .85
[10:37] {nemo} mmmhhh, stophunting in spy before it goes higher?
[10:37] {Threei}  can't tell
[10:37] {Threei}  50/50 here
[10:37] {nemo} that would be my assumption
[10:38] {nemo} if spy and iwm go, taking fas if it breaks .85
[10:38] {nemo} look at that
[10:38] {nemo} more stop hunting
[10:38] {_dolores} CAT could not break 86.70
[10:39] {nemo} iwm walking just above vwap, spy just below
[10:40] {nemo} frickin retail etf strong
[10:40] {ese} another .16 and i've got dino #'s with sap
[10:40] {nemo} same with consumer discretionaries, not sign of weak market
[10:40] {ese} yaaaaa no dare the economy be strong....bastards
[10:41] {Threei}  looking back at the chart, how pwerferct that .20 entry on IWM was
[10:41] {nemo} "bastids"
[10:41] {ese} that too!!!!!!
[10:41] {Threei}  inglorious?
[10:41] {nemo} that movie dragged a bit for me
[10:41] {ese} come on sap.......let me experience what it's like to be dino.....just once
[10:42] {nemo} although, got to practice my german
[10:42] {Threei}  didn't like it at all
[10:42] {nemo} oh, was speaking to some German's in the store last weekend...they're starting to have an Islamic problem also
[10:42] {nemo} or did I already say that
[10:43] {nemo} interesting, financials flattening but iwm and spy strong
[10:43] {dino} fosl sm l .85
[10:43] {nemo} long . fas .86
[10:44] {nemo} stop under .70
[10:44] {Threei}  so, are you guys talking about actual economy or stock mrket when refer to strenght?
[10:44] {nemo} stock market
[10:44] {Threei}  because actual economy numbers are anything but strong in retail sales
[10:44] {nemo} what does the market have to do with the economy?
[10:44] {Threei}  right
[10:44] {nemo} just looking at my tracking stocks
[10:45] {ese} out sap .89 +.46
[10:45] {ese} ahhhhhhhh so thats what it's like to be dino ehhhhhh....nice
[10:45] {Threei}  lol
[10:45] {dino} gj ese
[10:46] {ese} tks
[10:46] {_dolores} LTD trying 47 again
[10:46] {ese} you feel good
[10:46] {nemo} missed 1:1 on fas, and it's getting iffy
[10:46] {Beau} very good ese
[10:46] {nemo} wow, market feels like it's been open for hours
[10:46] {nemo} moving stop to .74
[10:47] {nemo} as a matter of fact, flat
[10:49] {ese} tks B
[10:50] {cipher} lqdt l.40
[10:50] {dino} out fosl .34, +.49
[10:50] {Threei}  visual:
[10:51] {cipher} out 1/2 .59 +.19
[10:52] {ese} out FCX .46 avg position .31 +.15 2K
[10:53] {nemo} thinking cat long .75
[10:53] {ese} wow.........hmmmmmmm what coulda been
[10:53] {nemo} stop .65
[10:53] {Beau} thx for chart vad
[10:53] {Threei}  :)
[10:53] {nemo} that was interesting offer .76
[10:59] {Threei} Short Setup: KSS  47 break
[10:59] {nemo} GS at the bottom of trading range, so not expecting much today unless that changes
[10:59] {cipher} out remainder lqdt .55 +.15
[10:59] {Threei}  hl
[10:59] {Threei}  If holds  .15
[11:00] {_dolores} in
[11:00] {nemo} oh oh
[11:00] {Threei}  ?
[11:00] {_dolores} no
[11:00] {Threei}  in what?
[11:00] {cipher} l kss .15
[11:01] {nemo} can't have a negative day, now an we
[11:01] {Threei}  dolores... did you short KSS?
[11:01] {_dolores} no platform went wrong
[11:01] {_dolores} not in
[11:01] {Threei}  why would you even try
[11:02] {_dolores} because clicked and it brought me anothr symbol
[11:02] {_dolores} platform stuck
[11:02] {_dolores} ok now
[11:02] {nemo} looks like spy might try to get to pivot at .09
[11:03] {cipher} out 1/2 kss .25 +10
[11:04] {Threei}  good fade
[11:04] {Beau} very good call c
[11:04] {cipher} out in full .35
[11:04] {cipher} thx vad for the heads up :-)
[11:04] {Threei}  sure thing
[11:04] {Threei}  many setups can be played like this
[11:05] {Threei}  entry in opoosite direction on invalidation
[11:05] {cipher} didn't go down...must go up
[11:05] {cipher} or sideways
[11:05] {Threei}  lol
[11:05] {cipher} :-)
[11:06] {nemo} think lqdt a short to the whole here
[11:06] {cipher} wow aapl
[11:07] {nemo} Dino...keep your foot away from the plug
[11:08] {nemo} now, was that a beautiful walk to pivot by IWM, and those sneaky SOB's with the stop hunts right at vwap
[11:09] {nemo} sorry I mean SPY
[11:14] {nemo} lqdt long here
[11:15] {nemo} went right to the whole
[11:17] {dino} nice call lqdt nemo
[11:17] {nemo} vwap dino
[11:18] {ese} very nice call
[11:18] {nemo} spy gonna go again looks like
[11:19] {Threei} Long Setup:  USO  .90 break
[11:19] {Threei}  If holds  .85
[11:20] {Threei}  Invalidated
[11:24] {nemo} GS still at the bottim of it's range
[11:26] {Threei} Long Setup:  FAZ  .40 break
[11:26] {Threei}  If holds  .35
[11:28] {Will49} :/
[11:28] {Threei}  nemo's typing skills take hit comparing only to the one his grammar takes... and it's all my fault
[11:29] {ese} check this out for the perfect round bottom....COV 1min chart
[11:29] {Threei}  (oh, and I am proud of it)
[11:29] {_dolores} in FAZ
[11:29] {_dolores} stop?
[11:30] {Threei}  11:26] {Threei} If holds .35
[11:30] {nemo} oy spy looking long
[11:30] {nemo} have to go with the bull flag till it disproves itself
[11:30] {ese} L cov .16
[11:31] {_dolores} always bthe stop if the hold?
[11:31] {Threei}  that remark shows the condition for invalidation and stop
[11:31] {_dolores} ok thxs
[11:32] {Threei}
[11:34] {_dolores} ok got it
[11:34] {dino} lqdtsm l .75
[11:37] {_dolores} FAZ wants to hold
[11:37] {Threei}  tries...
[11:37] {Threei}  keep an eye on nemo's fvorite leader, GS
[11:37] {Threei}  ot breaks down, FAZ should start climb
[11:38] {_dolores} we are out right?
[11:38] {Threei}  it barely touched under .45... personal preference
[11:38] {Threei}  thick stock, I don't exit on a first print
[11:39] {scottie} went out when it touched .34
[11:39] {Threei}  this is the reason why I hate automated stops
[11:39] {Threei}  they take you out on a first print, while manual leaves discretion... if there is 100K shares at the bid, you don't exit on 100 shares sale, right?
[11:40] {Threei}  half out, FAZ
[11:40] {_dolores} VAD you always say when you are out{? so if you dont we assume you in?
[11:40] {Threei}  no
[11:40] {_dolores} ok
[11:40] {Threei}  I don't alqways have a chance to type every move
[11:40] {_dolores} ok
[11:41] {Threei}  more often than not I do
[11:42] {Threei}  some things are obvious and leave no room for discretion... so do
[11:42] {Threei}  some
[11:44] {Beau} vad, more about volumne please.
[11:44] {Threei}  it's a combined issue of volume and liquidity
[11:44] {Threei}  look at GS
[11:45] {Beau} ok
[11:45] {Threei}  smaller shares at each level, bigger spread, biger gap between levels
[11:45] {Threei}  all signs of a thinner stock
[11:45] {Threei}  if your stop level is hit with 100 shares print at the level that has 300 shares, you awill want to exit right away
[11:46] {nemo} this little drop is looking like a big stop hunt
[11:46] {Threei}  now, thick ones that can absorb much more before level goes out allow fr some room
[11:47] {Threei}  if you have a price level with 100K shares, you don't want to exit on a reluctant 100 shares print
[11:47] {Threei}  rather you'll wait and see if selling is sustainable
[11:47] {Threei}  and starts threatening the whole level
[11:48] {_dolores} so now for example you still hold half FAZ with a stop at 22.34?
[11:48] {Threei}  in FAZ case, it was just that: couple small prints, level didn't budge
[11:48] {nemo} mcp at support
[11:48] {Threei}  no, now stop has been trailed to under b/e, .39
[11:48] {_dolores} ok
[11:48] {Threei}  because we reached profit levekl where we sold half
[11:49] {_dolores} ok thank you
[11:49] {Threei}  sure
[11:49] {Threei}  look in the scalping video course part about level 2, beau
[11:49] {Threei}  in both booklet and video
[11:49] {Threei}  it will clear up the part about liquidity
[11:50] {Beau} and i'm looking at vol in level 2 list?
[11:50] {Beau} will do on look
[11:50] {Threei}  in that part you will see how to use level 2 to evaluate risk
[11:50] {Threei}  this is exactly the same idea
[11:51] {Beau} my bad habit--see print and drop finger on click
[11:51] {nemo} cut it off
[11:52] {Beau} good idea
[11:52] {Threei}  well, it's not necessary a bad habit
[11:52] {nemo} better to hold stops than not hold them
[11:52] {Threei}  it's much better than blowing oner's stop anyway
[11:53] {_dolores} yes bad habit you have the mental stop and dont click it
[11:53] {Threei}  it's just that there are cases where some discretion can be applied
[11:53] {_dolores} belive me
[11:53] {_dolores} killed me
[11:53] {Threei}  yeah... last thing I want to promote is not to keep one's stop, lol
[11:54] {Threei}  surefire way to destroy one's account
[11:54] {_dolores} yes
[11:54] {_dolores} maybe beau set a stop one penny down or up than what you would
[11:54] {_dolores} its safe anyway
[11:56] {nemo} trend for spy
[11:57] {_dolores} KSS still fighting to hold
[12:14] {ese} L GG.24
[12:14] {Threei}  Central Bank Actions Confuse the Market
[12:14] {Threei}  This morning's central bank rate cuts and some poor US economic data are not providing market participants with much in the way of confidence. European equities slid lower following the rate cuts at the ECB and the PBoC, as well as the BoE's expanded asset purchase target. US equities sank into the red in the premarket and headed lower after 09:30ET, thanks also to the weak June ISM non-manufacturing data and a round of June same-store sales data that suggested consumers were spooked by the decaying economy.
[12:15] {Threei}  The strong same-store sales numbers seen earlier this year are only a memory now after June comps data painted a dismal picture of the US consumer. Department store names had a terrible June, with Macy's, Kohl's and Bon-Ton all lagging estimates.
[12:29] {dino} out lqdt .11, +.36
[12:30] {dino} aaww spike
[12:35] {dino} things have slowed down
[12:35] {Threei}  stalled totally
[12:51] {nemo} double bottomed off vwap on both spy and iwm
[12:54] {nemo} higher low iwm spy
[12:59] {_dolores} VAD nothing in NFLX?
[12:59] {nemo} can be tough spread trader
[13:00] {Threei}  .30 break short, maybe... but this is pulp
[13:00] {Threei}  hard to cotnrol risk
[13:00] {_dolores} ok
[13:03] {_abakas} whats your thoughts on the market tomorrow threei
[13:04] {nemo} deader
[13:04] {nemo} lvs bull flag
[13:05] {Threei}  hmmm
[13:05] {nemo} yeah, and almost that time
[13:05] {Threei}  I am not in the business of predicting, really...
[13:05] {Threei}  who knows what happens overnight
[13:05] {nemo} what reports tomorrow?
[13:06] {Threei}  ADP
[13:06] {_abakas} do u hold anything overnight?
[13:06] {Threei}  very rarely
[13:07] {ese} cov forming a cup and handle on the 1min chart
[13:08] {_abakas} threei what do u recommend on the size? normally i buy small size first and if the trade goes my direction
[13:08] {_abakas} I I add more
[13:08] {_abakas} whats ur recommendation?
[13:08] {Threei}  I don't do that
[13:08] {Threei}  I enter whole position when setup triggers
[13:08] {_abakas} ty
[13:09] {Threei}  cases where I build position in pARTS ARE PROBAVLE ONCE A YEAR
[13:09] {Threei}  maybe twice
[13:09] {Threei}  exits is another thing, this is where I partial more often then not
[13:11] {ese} check my question above when you get a sec vad
[13:11] {Threei}  where?
[13:11] {Threei}  oh, sorry
[13:11] {Threei}  missed it
[13:12] {ese} not a problem....ya got alot goin
[13:12] {Threei}  way too narrow
[13:12] {Threei}  range is almost non-existent
[13:12] {ese} ok...tks.....
[13:26] {_dolores} NFLX seems will test to break 82
[13:28] {_dolores} ,60 .70 has beens resistance
[13:49] {ese} out cov .22 +.06
[13:55] {dino} .
[13:59] {nemo} anybody for spy 138?
[13:59] {Threei}  I wouldn't be surprized... but can't trade it
[13:59] {Threei}  if short sets up, I'll pounce
[13:59] {Threei}  if long, I'll sit it out
[14:00] {nemo} why not long if long's set up
[14:00] {Threei}  everything in me resists the idea
[14:09] {thomcbell} short setup lvs - 43.37 break if holding 43.47
[14:10] {Threei}  looks right
[14:14] {ese} L gg avg .12
[14:15] {_dolores} LVS doesnt it look more like a buy?
[14:15] {_dolores} holding lower lows?
[14:15] {_dolores} higher
[14:15] {nemo} looks higher to me
[14:16] {Threei}  it changes depending on which 5 min interval one asksm lol
[14:16] {Threei}  was a short setup 5 min ago
[14:17] {Threei}  loss of .37 was a little H&S
[14:17] {nemo} yeah...breakout was at .30, it held support when testing it
[14:17] {thomcbell} setup invalidated
[14:20] {_dolores} large order filles at .50
[14:20] {_dolores} this will move higher
[14:20] {nemo} yeah, next target .62 then .82
[14:21] {nemo} spy holding trend for higher prices
[14:28] {scottie} an long ?
[14:28] {Threei}  not by me
[14:28] {scottie} ok
[14:33] {Threei} Short Setup: COST  .10 break
[14:33] {Threei}  yikes AN... why didn't we short it
[14:34] {Threei}  nice swan dive
[14:34] {nemo} gmcr break or short
[14:35] {nemo} too quick
[14:35] {Threei}  ugh... good spot scottie, I should have paid better attention
[14:38] {Threei}  COST stop above .15
[14:39] {Threei}  let's try to cover half closer to 94 and ride the breakdown on second half
[14:45] {nemo} iwm bouncing at trend
[14:45] {Threei}  blistering speed at which things are happening threatens to leave us with birned skin
[14:46] {Threei}  burned too
[14:46] {Threei}  look... I managed to construct a sentence with korreqt grammar and just one mistype
[14:46] {nemo} coupla shots slows things down for me
[14:46] {Threei}  that's an achievement
[14:47] {nemo} yeah, for someone with no arms
[14:47] {Threei}  right... you try to type with your knees
[14:47] {nemo} toes
[14:47] {Threei}  nah, I am not that bendy
[14:48] {nemo} warped though
[14:48] {Threei}  die already COST
[14:48] {nemo} not to be confused with "wop"
[14:48] {nemo} which is what I am
[14:49] {_abakas} threei what is ADP report tomorow
[14:49] {nemo} nflx which way u goin?
[14:49] {nemo} ADP on Friday, nah
[14:50] {nemo} that's the gov report probably
[14:51] {Threei}  unemployment rate
[14:51] {nemo} long setup iwm
[14:51] {Threei}  rather biggie
[14:53] {nemo} the rapper?
[14:53] {nemo} isn't he dead?
[14:54] {Threei}  out first half .02
[14:54] {Threei}  stop to .11
[14:55] {Threei}  I am crying over AN... wnat a missed opportunity
[14:55] {Threei}  I swear, it must be nemo's fault...
[14:56] {scottie} listen to me next time
[14:56] {Threei}  I so will
[14:56] {scottie} especially when I wrongfully think it's long
[14:57] {Threei}  oh, but directional bias doesn't matter, you see
[14:57] {Threei}  there was a good setup for a move,
[14:57] {Threei}  it was lower limit of the range that got broken
[14:57] {Threei}  so long was invalidated, short truiggered instead
[14:57] {scottie} What's a swan dive
[14:58] {Threei}  but the spot of the setup as probability of a good move coming was precise
[14:58] {Threei}  see my point?
[14:58] {scottie} think so
[14:59] {scottie} .20 woulsd have been the short trigger then?
[14:59] {Threei}  just a visual... imagine swan soaring up, pausing, then diving shrply to the ground... :)
[14:59] {scottie} I see
[14:59] {Threei}  by the chartm yes... .20 break with .30 - .35 stop
[15:00] {Threei}  ok COST, time for a second leg
[15:00] {scottie} out cost +.10 ty
[15:00] {Threei}  :)
[15:00] {nemo} interesting setup short for nflx here
[15:00] {Threei}  tril stop to .06
[15:00] {Threei}  trail
[15:03] {ese} gotta go....cya tomorrow
[15:03] {Threei}  take care ese
[15:04] {Threei}  scalpers win
[15:04] {Threei}  again
[15:09] {nemo} not an easy tape today
[15:09] {nemo} earnings season starts next week
[15:11] {Beau} COST again?
[15:11] {nemo} Beauregard Bugleboy III
[15:11] {Beau} too late
[15:11] {Threei}  not sure
[15:12] {Beau} how did you find my full nemo?
[15:12] {Beau} name
[15:12] {cc_8} thats your full name?
[15:13] {nemo} no...that's the name of a dog from a short story
[15:13] {Beau} not really.  not the III
[15:13] {Threei}  lol
[15:13] {cc_8} lol
[15:13] {Beau} who read it to you, nemo?
[15:13] {Threei}  bunny
[15:20] {_dolores} KSS short if it breaks .20?
[15:20] {Threei}  if stays under .30... yes
[15:23] {nemo} cat
[15:25] {nemo} long .86
[15:25] {nemo} stop .79
[15:26] {_dolores} nope back to its support
[15:26] {nemo} scalp scalp scalp scalp
[15:26] {_dolores} ok guys see you tomorrow
[15:26] {_dolores} thxs VAD
[15:26] {_dolores} learning with you
[15:26] {nemo} 1/2 .95
[15:26] {_dolores} take care
[15:27] {Threei}  have a good evening
[15:27] {Threei}  see you tomorrow
[15:28] {nemo} stop .89
[15:29] {nemo} 1/4 more .05
[15:32] {dptl} gn all
[15:32] {Threei}  take care dp
[15:33] {nemo} looks like indexes might want to close on vwap
[15:33] {nemo} although could argue for upro long here
[15:33] {scottie} see you tomorrow guys
[15:34] {Threei}  you too scottie
[15:35] {dino} calling it a day. thx all appreciate the ideas
[15:36] {Threei}  dino
[15:36] {Threei}  ;
[15:37] {Will49} would you sum up today in three or four words?
[15:38] {nemo} Summer Holiday Week Trading
[15:38] {Will49} tks...thought so
[15:38] {Threei}  not very productive
[15:38] {nemo} Next two months you'll likely be able to catch up on your sleep
[15:38] {Threei}  more of a testing water, to see if sopmething happens
[15:38] {nemo} Now that I've said that, it'll probably be like Fall 2008
[15:39] {Will49} still a great learning day for we newbies:)
[15:40] {Will49} meaning be very scared
[15:41] {Threei}  this kind of days when market is in waiting mode, main thing is to control the risk
[15:42] {Threei}  take val;id setups, keep it tight, grab profits when they are there, control stops
[15:42] {Will49} yea..that's the lesson-ths
[15:42] {Threei}  and hope that real action comes
[15:44] {Threei}  look at AN that scottie spotted earlier
[15:45] {Threei}  grab one such trade, it justifies waking up
[15:46] {Will49} so I see
[15:47] {Threei}  we did get something decent earlier... but I can't remember what it was, lol
[15:47] {Threei}  hit 1:2
[15:48] {Will49} IWM?
[15:48] {Threei}  oh... two then, I remember it was a short
[15:49] {Beau} first one, FCX??
[15:49] {jackharry} LVS
[15:49] {nemo} speaking of bunny, she just came out
[15:50] {Threei}  LVSm yes
[15:55] {Beau} nemo, fun to watch you work CAT.  Nice.
[15:55] {nemo} I'm better with bunnies
[15:56] {Will49} See you tomorrow
[15:57] {nemo} ho hum only a 1.20 range in spy today
[15:57] {Threei}  thank you all
[15:58] {Threei}  have a good evening
[15:58] {Threei}  see you tomorrow
[15:58] {Threei}  hopefully for more excitment