Thursday, September 6, 2012

Sep 6 2012

Catch of the Day, DBI type of a breakdown. sealing profitable day as a nicely profitable.

Session Time: Thu Sep 06 00:00:00 2012
[08:29] {nemo} mmmmhhhhh IWM stopped right at that volume overhang starting at .76....let's see if Draghi can punch it through
[08:30] {nemo} now that was interesting...75 cent stop hunt
[08:43] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 365K V 370KE; CONTINUING CLAIMS: 3.322M V 3.315ME
[08:43] {nemo} oh, decided to get out of bed
[08:43] {nemo} ?
[08:43] {nemo} see stop hunt at 8:30 on IWM?
[08:44] {Threei}  nah, moved whole rig over there
[08:44] {nemo} ahhh...suspend monitors from the ceiling?
[08:44] {Threei}  let's see what Draghi said
[08:44] {Threei}  (EU) ECB'S Draghi: ECB has decided to undertake bond purchases in secondary markets, new MOT program has conditions; fears of the reversibility of the euro are unfounded - prepared remark
[08:44] {Threei}  s- Bond purchases will help reduce the severe distortions in government bond markets, ECB is acting strictly within its mandate to protect price stability.
[08:44] {Threei}  - Conditions include collateral requirements [notes that details will be described in a separate press release]
[08:44] {Threei}  - Economic indicators point to a weak second half, economic recovery will be very gradual. Global slowdown is hindering the growth outlook, financial market tension is weighing on sentiment. - Reiterates that inflation will remain above 2% in 2012 and fall below 2% in 2013, inflation risks are broadly balanced in the mid-term.
[08:44] {Threei}  - Reiterates underlying pace of monetary expansion remains subdued, economic growth in the euro zone remains weak.
[08:44] {Threei}  - Intensifying global crisis could tip the balance of inflation risks to the downside, higher oil prices over recent months or higher indirect taxes could push inflation higher
[08:44] {Threei}  . - Subdued loan growth reflects balance sheet adjustments. Sound bank balance sheets are key for credit provision.
[08:52] {Threei}  feels to me it fell short of expectations
[08:53] {nemo} ya' think?
[08:53] {Threei}  I don't
[08:53] {nemo} oh yeah, sorry, forgive me
[08:54] {Threei}  I compare what he says to what he used to say in that famous preomises that goosed the market a few weeks ago
[09:02] {goryl} gm all
[09:02] {RonS} hello everyone
[09:03] {jackharry} good morning
[09:03] {nemo} Gawd this is painful
[09:04] {Threei}  gory, ron, jack :)
[09:06] {jackharry} Vad.....when do you normally sell your first partial....for example if break was .50 and you fill at .52, do you sell at 1:1 at .60 or .62?
[09:06] {Threei}  .60
[09:07] {jackharry} ok, thanks
[09:07] {Threei}  market doesn't care where my orders are executed, it's patterns are objective
[09:07] {Threei}  its
[09:09] {nemo}
[09:10] {Threei}  ES) Spain PM Rajoy: no decision yet on whether to ask for sovereign aid program; have not read ECB Draghi's full statement yet on bond buying plan- Made no promises for new reforms today in meetings with Merkel.
[09:10] {dino} gm
[09:10] {Threei}  dino :)
[09:15] {dptl} gm
[09:17] {Threei}  dp :)
[09:18] {Threei}  "There is no explicit upfront cap, but the size of the credit expected to vary between 2-10% of GDP."
[09:18] {Threei}  jeez
[09:20] {scottie} gm
[09:20] {Threei}  scottie :)
[09:20] {Threei}
[09:20] {Beau} good morning all
[09:21] {Will49} gm
[09:22] {Threei}  beau, will :)
[09:24] {Threei}  market seems fairly confused about Draghi speech
[09:31] {dolores} hello GM
[09:31] {Threei}  dolores :)
[09:31] {Threei}  watchCLF for pullback entry
[09:31] {Threei}  near .60
[09:31] {Threei} Long Setup:  CLF  .60 break
[09:31] {Threei}  hl
[09:32] {Threei}  change to .30
[09:32] {Threei}  If holds  .15
[09:32] {nemo} grinding up
[09:33] {Threei}  no chance
[09:33] {nemo} just hit R3 on spy daily
[09:33] {Threei}  if anyone managed to get it, half out
[09:34] {Threei} Short Setup: LVS  .55 break
[09:34] {nemo} iwm almost through volume overhang, we get through that...and consolidate to the races
[09:34] {Threei}  If holds  .65
[09:35] {dino} i hate these kind of starts
[09:37] {nemo} looks like they're gonna' run this thing
[09:37] {nemo} 143.10 is next real resistance for spy
[09:38] {Threei}  should pull back now
[09:39] {Threei}  LVS double topping... need it to stay under .60 and lose .50 now
[09:39] {nemo} short nflx below .60
[09:39] {nemo} partialing at .35 ish
[09:40] {nemo} stop above .70
[09:40] {nemo} out
[09:40] {nemo} ow
[09:40] {dino} bidu drop
[09:40] {Threei} Long Setup:  FAZ  .40 break
[09:41] {Threei}  If holds  .35
[09:41] {Threei}  KVS 1:1
[09:41] {Threei}  LVS
[09:42] {Threei}  1:2, out
[09:42] {Threei}  aww, too soon
[09:42] {Threei}  1:3
[09:42] {nemo} rinse nflx
[09:43] {Threei}  FAZ target around .55
[09:44] {dolores} wow why are they killing CLF even more today?
[09:44] {Threei}  half out FAZ
[09:44] {nemo} must think Obama will get re-elected
[09:45] {Threei}  stop to .39
[09:45] {dolores} the downgrade is being more eective today
[09:45] {RonS} couple of calls that iron ore will hit $50/ton...clf
[09:45] {dino} think its the euro printing presses nemo
[09:48] {RonS} copper not participating in this rally...
[09:50] {dolores} it makes it vulnerable to take over
[09:51] {Threei} Short Setup: FCX  .70 break
[09:51] {Threei}  .76 stop
[09:53] {Threei}  half out
[09:53] {Threei}  stop to .71 and let's try for around .50
[09:54] {Threei}  unless SPY breaks .50
[09:54] {Threei}  out FAZ remainder
[09:55] {nemo} spy looks ready to go
[09:57] {nemo} ISM
[09:57] {nemo} spy ready to go either way on the number
[09:59] {nemo} we be ripping
[10:00] {Threei}  53,7 vs 52.5E
[10:00] {nemo} o.k. cool aid drinking to commence
[10:00] {nemo} kool
[10:00] {nemo} HFT should try to fade this
[10:01] {nemo} ain't working should go hihgher..iwm through volume overhang
[10:03] {nemo} above 143.10 spy runs into heavy confluence
[10:03] {nemo} IWM going
[10:04] {Threei} Long Setup:  LVS  .65 break
[10:05] {Threei}  If holds  .55
[10:07] {Threei}  Invalidated
[10:11] {Threei} Short Setup: FCX  .90 break
[10:11] {RonS} tngo fast down
[10:12] {Threei}  if that triggers and works, we will look at the setup in details, it's an interesting one
[10:12] {Threei}  target around .65
[10:13] {Threei}  Invalidated
[10:13] {nemo} consolidates above .00 probably long
[10:13] {Threei} Short Setup: LVS  .50 break
[10:14] {nemo} l fcx .03
[10:14] {nemo} sto is .95ish
[10:14] {Threei}  Invalidated
[10:15] {nemo} spy should go test above 143 now
[10:18] {nemo} raising stop to .99
[10:19] {nemo} mmmhhhh....indexes weakening
[10:19] {Threei} Short Setup: LVS  .70 break
[10:21] {nemo} spy at trend
[10:22] {nemo} offering .13 fcx
[10:22] {Threei}  change to .75 breaK LVS
[10:23] {Threei}  stop .81
[10:23] {nemo} short here
[10:23] {nemo} but not sure if market gonna come in yet
[10:24] {Threei}  bid half .66
[10:24] {Threei}  out, stop to .76
[10:25] {nemo} next partial .29 on fcx
[10:25] {nemo} stop is .09ish
[10:28] {Threei}  OK, so far:
[10:28] {dolores} not out LVS?
[10:28] {dino} gj fcx nemo
[10:28] {Threei}  4 for 4, but trailing stops for the balance get tagged, 3 invalidations
[10:28] {goryl} vad, what setup was LVS?
[10:28] {Threei}  out of course
[10:28] {dolores} ok thxs
[10:29] {nemo} o.k. spy should turn into a slog in this area
[10:29] {Threei}  JBE failure
[10:29] {dolores} whats a slog nemo?
[10:29] {nemo} buying small pot
[10:30] {nemo} stop under .l85
[10:30] {nemo} .85
[10:30] {goryl} unbelievable trading but i'm having some difficulties identifying the setups in real-time.
[10:30] {Threei}  it's your 3rd day!
[10:30] {goryl} i know:)
[10:30] {Threei}  give yourself a bit more slack, will ya?}? :)
[10:30] {nemo} suck
[10:30] {goryl} so much to learn:)
[10:31] {Threei}  takes a little longer than 3 days, believ me :)
[10:31] {nemo} more than u know ;-)
[10:31] {dolores} take it easy
[10:31] {Will49} oh've attracted to shark already
[10:31] {dolores} takes some time
[10:31] {nemo} valium helps
[10:31] {Will49} gorl
[10:31] {nemo} oh oh...Now I'm hearing Cat Stevens
[10:31] {Threei}  - NYSE volume 150M shares, about 2% below its three-month average;. - NASDAQ volume 420M shares, about 16% above its three-month average;
[10:31] {nemo} oops...I mean Yusef Islam
[10:31] {Threei}  volume picks up a bit
[10:31] {robbers} There's a rhythm to it that you'll get used to, goryl.
[10:32] {nemo} and now I'm in Neil Diamond mode on FCX
[10:32] {Threei}  good one on FCX
[10:32] {nemo} hold ur nose and buy
[10:33] {nemo} stop .19
[10:33] {nemo} hehehehe...spy hit's 143.08 and....
[10:35] {nemo} oh boy look at this
[10:35] {nemo} wow, this is impressive
[10:36] {Threei}  considering how much I hater these slow climb days and how badly they are suited for my trading style, I am happy with today's performance so far
[10:36] {Threei}  now, let's make sure that we don't repeat yesterday mistake and don't let it evaporate
[10:36] {Threei}  the way we do it is,
[10:37] {Threei}  we put trailing stop on our trading account for the day:
[10:37] {Threei}  half of profit at this point is a "stop trading for the day" point
[10:38] {Threei}  we pick trades and position sizes that do not jeopardize more than half of profit we have so far,
[10:38] {Threei}  and if that point is hit, no more live trades.
[10:38] {Threei}  if the next trade is stopped and it ate 1/4 of profit, you have 1/4 more to waste,
[10:39] {Threei}  If the next trade is profitable, we will trail stop to 2/3
[10:39] {Threei}  etc
[10:39] {Threei}  concept is clear?
[10:39] {goryl} yep
[10:39] {nemo} o.k. I'm on for 153 by end of September
[10:39] {jackharry} y
[10:39] {Will49} y
[10:39] {Threei}  cool
[10:39] {scottie} y
[10:39] {Threei}  or as my kids say, kewl
[10:40] {dolores} y
[10:40] {Threei} Short Setup: FCX  .40 break
[10:41] {dino} tngo drop
[10:41] {nemo} stop .38ish for fcx
[10:41] {Threei}  that's what I think nemo... world has moved their stops to under .40 now
[10:41] {Threei}  so break of it should trigger avakance of sell orders
[10:42] {Threei}  k=l
[10:42] {Threei}  can't keyboard manufacturers move these two letters farther from each other?
[10:42] {Threei}  or insert third one between them?
[10:43] {dino} sm l .51 tngo
[10:46] {Threei}  (UK) UK Business Sec Cable: QE is only a 'narrow' mechanism in which to boost the economy, other methods should be explored
[10:46] {Threei}  even those who have some reservations about QE don't get it
[10:46] {Threei}  it doesn't boost anything
[10:46] {Threei}  it buys you time
[10:46] {Threei}  that's all
[10:46] {Threei}  and it has costs attached
[10:46] {jackharry} Cable is also known as the anti-business secretary
[10:46] {Threei}  overdo it, it kills you
[10:47] {Threei}  don't use the time it bought you, you wasted it
[10:47] {Threei}  you remember the words my conference will start with (helloe nemo's favorite dangling preposition), right?
[10:48] {Threei}  and my next book too, btw
[10:48] {goryl} fcx, wouldn't you go for the jbe long setup vad?  what made u change it to a short?  stuff like this is still unclear:)
[10:49] {Threei}  these slow climbs don't continue for the whole day as a rule,
[10:49] {Threei}  they tend to stall and flatline, or stage some retreat
[10:49] {Threei}  this is what I am trying to play
[10:50] {nemo} today is not a rational day, until the indexes break trend lines, I ain't lookin' short
[10:50] {Threei}  odds are on a short side, so my idea is to play it or get invalidated
[10:50] {nemo} they may be there, but the odds are against it
[10:50] {Threei}  Invalidated
[10:50] {goryl} ok, thanks
[10:50] {Threei}  you have long position from 50 cents ago nemo; would you initiate new long here if you didn't?
[10:51] {dino} tngo stop -.32
[10:51] {nemo} not sure that's the question
[10:51] {nemo} Would I initiate a short here
[10:51] {Threei}  if it set up, absolutely
[10:51] {nemo} answer is not until we get trend line breaks on the indexes
[10:51] {Threei}  look again at this chart without last spike over .50,
[10:52] {Threei}  isn't it very likely that stops were moved to under .40, just as you did?
[10:52] {nemo} I agree
[10:52] {Threei}  would be a mortal sin not to exploit that
[10:52] {Threei}  and I am not a mortal sinner
[10:52] {nemo} well, that's where the art comes in
[10:52] {Threei}  well... ummm
[10:52] {nemo} and I like sinning btw
[10:52] {nemo} setup in context
[10:52] {nemo} imo
[10:52] {Threei}  right
[10:53] {nemo} wtf do I know
[10:53] {Will49} more than me
[10:53] {dino} tngo sm l .85
[10:53] {nemo} now, IWM is at WR3
[10:53] {Threei}  well... as dino would quote, "born in sin? come on in!"
[10:53] {Threei}  lol:
[10:53] {Threei}  (EU) Germany BDB banking association: ECB bond purchases should only be conducted on an emergency basis
[10:54] {Threei}  it's every day that EU is going to have emergency
[10:54] {nemo} stop is .45ish
[10:59] {goryl} vad, roughly what percentage of ur trades come from the scanner?  I know u keep a few of ur favorites (fcx, slw, etc.) on a watchlist
[10:59] {nemo} stop .49ish
[11:00] {Threei}  (US) DOE CRUDE: 7.42M V -5ME; GASOLINE: -2.33M V -3.5ME; DISTILLATE: +1.0M V -2ME; UTILIZATION: 86.1% V 88%E
[11:00] {Threei}  I don't know goryl... it changes
[11:00] {Threei}  some days it has nothing for me, some days it's almost all I have
[11:01] {Threei}  also, it plays important role aside of offering trade andidates
[11:01] {Threei}  it indicates level of activity by the pace of scrolling,
[11:01] {Threei}  it shows which kind of setups are more active
[11:02] {Threei}  (EU) Euopean Union said to be seeking unilateral oversight of EMU banks from the ECB - financial press
[11:05] {nemo} out .53 fcx
[11:05] {dino} tngo wicked
[11:06] {Beau} excellent nemo.
[11:06] {nemo} true
[11:06] {Will49} FCX was nice slow trade for a gunslinger eh? nemo
[11:07] {Will49} gunslinger like you
[11:07] {nemo} I'm really not a gunslinger...gotta' talk to cipher about that....personally, I prefer sniping from distance
[11:07] {Threei}  he is a nice slow gunslinger
[11:07] {Beau} and modest
[11:08] {nemo} about the only stock I might "gunsling" is the iwm/spy stuff, but that's a very mechanical system I have for that
[11:08] {Threei}  nice slow modest gunslinger... nemo, aka NSMG
[11:08] {Will49} :)
[11:08] {nemo} O.K.   it's getting a little deep around here
[11:10] {nemo} I like to set up a nice steady rest, measure distance, dope the wind, check for mirages, and set crosshairs
[11:12] {Will49} Nemo Bourne
[11:12] {dino} pwer drop
[11:12] {nemo} oy vay...he's from my neck of the woods
[11:12] {dino} more like the bourne nemo
[11:14] {nemo} frankly, that trade was based on Vad's short call
[11:14] {Threei}  fading invalidated setup
[11:14] {nemo} it had tested .95, vad I think was looking for a.90 break short
[11:14] {Threei}  yup
[11:14] {nemo} well, kinda' I was watching it
[11:15] {nemo} I figured this was a day where things were gonna go longer than they "rationally" should
[11:15] {nemo} However, FCX hadn't even reached R2 for the day
[11:16] {nemo} so, when it spiked over 36 on high volume, dropped ever so slightly below 36, then rebid
[11:16] {nemo} I figured it wanted higher
[11:17] {nemo} I took .03, but traditional setup would have been to 1) wait until it broke that candle wick at .04, or wait until it broke and retested support somewhere
[11:18] {nemo} As I said, not a rational day, it had already tested under the whole number and rebid, so I set the stop under the 1 minute candle from which FCX originally broke 36.  That made the stop .96ish
[11:18] {nemo} then I held my nose
[11:18] {RonS} Shares of Tangoe, Inc. (TNGO:$13.81,00$-3.19,00-18.76%) are down 16.9% to $14.13 after a negative report on the company was issued by Copperfield Research, according to StreetInsider.
[11:18] {RonS} In their report, Copperfield Research stated: "After doing a deep dive into Tangoe's (TNGO:$13.785,0$-3.215,0-18.91%) financials, it is our belief that the company has significantly misrepresented its de novo growth rate, while demonstrating many of the telltale shenanigans and behavior that tends to be a harbinger for blow ups. We believe that an SEC investi
[11:19] {RonS} an SEC investigation may be warranted based on our belief Tangoe (TNGO:$13.665,0$-3.335,0-19.62%) publicly misrepresented its organic growth rates, and altered material biographic information, in front of a large secondary offering."
[11:20] {dino} ty ron
[11:20] {RonS} yw
[11:22] {Threei}  (EU) Germany's Bundesbank comments that Weidmann did highlight opposition to bond purchases in recent conversations; saw bond purchases as 'too close' to Govt financing and printing money- Sees risks that monetary policy could become too dependent on fiscal policy; risks exist for central bank to distribute risk to taxpayers - notes that only Governments can redistribute risks between states and that ECB interventions in the bond market may delay reform measures and cut trust in Govts - Reminder: Earlier ECB's Draghi commented that there was 1 dissenter during the ECB meetings
[11:23] {Threei}  (EU) IMF Chief Lagarde: Strongly welcomes ECB bond buy program, stand ready to cooperate "within our frameworks"
[11:23] {Threei}  but of course
[11:23] {Threei}  well, after German court caving in on Sept 12 apocalypsys starts in earnest
[11:25] {dino} tngo stop -.31
[11:30] {nemo} today was a breakout, jobs number tomorrow, which, unless it's ridiculously good, could make for profit much profit taking can push the market down will likely determine the next leg
[11:30] {nemo} I'm on record for 153 by end of September
[11:31] {nemo} hehehehe IWM new high, it found support at the weekly R3
[11:32] {Threei}  lol...
[11:32] {nemo} looks like my family portrait
[11:32] {Will49} :P
[11:33] {RonS} first thought was that it was depiciton of the german taxpayer....
[11:33] {dptl} lol BOHICA
[11:33] {Will49} lol
[11:33] {Will49} lol
[11:35] {Threei}  "What they are planning is what they have done so far. Pump more and more money in to failed banks, create new bad banks so they too can be given public money that disappears when they too fail, and then turn around and tell the tax payer that the nation has spent too much and the government will, with crocodile tears in their eyes, have to close some hospitals, cut wages, �liberalize� the work place, fire thousands of lazy, good for nothing public service workers, and then wonder why tax revenues are going down and banks are seeing money leave."
[11:37] {Will49} tell us how you REALL feel, Vad
[11:37] {Will49} REALLY
[11:38] {Will49} oh oh...guess hat wasn't you who said that
[11:38] {Will49} that
[11:38] {Threei}  no, quote
[11:38] {Will49} sounded like you though
[11:38] {Threei}  well, that's why I quote it :)
[11:39] {Threei}  funny thing though is, artcile ends with:
[11:39] {Threei}  And the people, us, what will we do?
[11:39] {dolores} is this a new leg up?
[11:39] {Threei}  but here is a problem: do the people insist on government getting out of the way and letting market work,
[11:39] {Threei}  or do the people insiust that government fix it?
[11:39] {nemo} on what dolores, spy?
[11:39] {dolores} all
[11:40] {Threei}  I doubt it... time for a stall, IMO
[11:40] {Will49} 80% of people don't know what's going on
[11:40] {nemo} hard to say...I'm with Vad
[11:40] {dolores} thxs
[11:40] {Will49} and 70% don't care, as long as handouts keep coming
[11:41] {dino} thats what its about, vote buying
[11:41] {dino} pwer sm l .00
[11:41] {RonS} hit 16 min ago:  BREAKING: Bundesbank says President Weidmann opposes ECB bond buys
[11:42] {Will49} yada yad yada
[11:42] {Threei}  Ron... et tu have me on ignore
[11:42] {dolores} well he can oppose all he wants
[11:43] {dolores} don't think they will listen to him too m uch
[11:43] {Will49} these Europeans make  a contradictory statement every few hours to keep everyone on edge
[11:43] {dolores} if they back off from bonds now it will be chaos
[11:43] {Threei}  and if they buy them unlimited...?
[11:44] {dolores} this will soar
[11:44] {Threei}  yes, and in a year or two...?
[11:44] {dolores} and then will be chaos
[11:44] {Threei}  when it finally becomes clear that this is endless crisis
[11:45] {Threei}  correct, but it will be chaos with much deeper hole
[11:45] {Will49} endless is the operative word
[11:45] {Threei}  the only sane thing is to back off now and let it crash
[11:45] {dino} agree
[11:45] {Threei}  it's dead
[11:45] {Will49} they won't
[11:45] {Threei}  don't keep it in zombied state
[11:45] {Will49} they will
[11:46] {Threei}  yeah... unfortunately
[11:46] {RonS} omg...channeling Doris Day here...
[11:46] {Will49} so we might as well accept's the REALITY
[11:46] {Threei}  and come Movember, we will know if we vote them in time and again
[11:47] {Will49} buy hard assets and vote for change
[11:47] {Will49} that's all we can do
[11:47] {Threei}  problem with hard assets is,
[11:47] {Threei}  it's a fine game for wealth preservation
[11:47] {Threei}  it doesn't work for day-to-day expenses
[11:47] {Will49} lesser of two evils
[11:47] {Threei}  where most of population is
[11:48] {Threei}  you can't exchange parsel of your land or piece of your gold bar for a loaf of bread
[11:48] {Will49} it's BOHICA for most people unfortunately
[11:49] {Threei}  yup, and bums in power make it worse on every turn
[11:49] {Threei}  and we sheepishly vote them in again
[11:50] {Will49} will take at least a generation to cleanse the political system
[11:50] {Threei} Short Setup: FCX  .50 breeak
[11:50] {Threei}  just a scalp most likely
[11:51] {Threei}  unless frau Merkel helps out
[11:53] {Threei}  If holds  .55
[12:09] {dino} tngo l .60
[12:11] {dino} stop to .74
[12:12] {dino} to .83
[12:12] {dino} out +.23
[12:16] {Threei}  wtg
[12:19] {dino} ty
[12:25] {Threei}  (EU) EU court said to have ruled that approved genetically modified crops do not need country approval- Court comments from Pioneer Hi Bred v Italy case.
[12:26] {Threei}  that's what you get for yeilding to centralized ppowers... don't want GM crops in your country? too bad, EU approved it
[12:28] {dino} pwer to .20
[12:29] {Threei} Short Setup: RAI  .12
[12:30] {Threei}  If holds  .20
[12:30] {Threei} Short Setup: DG  .40 break
[12:30] {Threei}  .c .50
[12:30] {Threei}  If holds  .50
[12:39] {Threei}  DG target 1:2
[12:42] {Threei}  stop to .46
[12:43] {dino} out pwer +.20
[12:44] {Threei}  grrr
[12:49] {jackharry} RAI still valid?
[12:49] {Threei}  I think so
[12:49] {Threei}  bvarely touched above .20
[12:49] {Threei}  barely
[12:52] {nemo} any bets on an end of day run higher?  ;-)
[12:53] {dino} longer it holds better the chance imo
[12:53] {nemo} imo2
[12:53] {Threei}  I have no O
[12:53] {Threei}  I hate the stall
[12:54] {Threei}  and severely dislike ECB, EMU and scented candles
[12:55] {Threei}  I also don't like Prius but that's irrelevant
[12:56] {RonS} every freakin one around here has an O sticker...
[12:56] {dino} Obummer
[12:57] {Will49} OMG
[13:11] {dino} fosl sm s .10 stop hod
[13:16] {nemo} iwm spy starting to look long again on higher time frame
[13:19] {Threei}  covered half RAI
[13:19] {Threei}  jack, you in?
[13:23] {Threei}  anyone in?
[13:23] {Threei}  anyone's breathing?
[13:23] {Threei}  anyone's on this planet?
[13:23] {scottie} just came back
[13:23] {dolores} yes I am in and out for  a while
[13:23] {dptl} out .01 ty
[13:23] {dolores} missed the lst one bt doing well today
[13:24] {Threei}  ok... I thought I was last man on earth
[13:24] {Threei}  and started looking for that one last woman
[13:24] {dolores} will go out for 30 minutes in awhile
[13:25] {Will49} went to sleep watching RAI
[13:25] {Will49} but scalped for .08
[13:25] {Will49} finally
[13:25] {Threei}  :)
[13:25] {Will49} I'm gettin' it....slowly
[13:25] {dino} gj
[13:26] {Threei}  slowly is good
[13:26] {Will49} yes..keep reminding me
[13:26] {Will49} tks Dino
[13:26] {Threei}  in my table tennis years, I had a privilege to train for a month under the Moscow champion
[13:26] {Threei}  his favorite saying was:
[13:27] {Threei}  the move you learned quickly is the one you'll forget first
[13:27] {Will49} true dat
[13:27] {scottie} Good, then at the speed I learn, I'll remember everything
[13:27] {Will49} lol
[13:29] {nemo} hey beau!
[13:30] {nemo} I posted what I was looking at in fcx on the blog
[13:40] {dptl} met .10 short?
[13:42] {Threei}  50/50
[13:45] {dino} cacc?
[13:48] {Threei}  don't see anything but earnings oln aug 02
[13:48] {dino} same here, odd
[13:48] {goryl} see you all tomorrow
[13:49] {Threei}  take care goryl
[13:49] {scottie} goryl
[13:49] {Threei}  EU) German Fin Min Schauble: Calls on political figures to restrain their commentary about the ECB- ECB independence is highly valuable. - If the EU cannot unite, it will become irrelevant. - Global economy would be less stable without the euro. - Believes the ESM is legal under the German Constitution. - Fiscal problems cannot be solved via monetary policy.
[13:50] {Will49} Mr Obvious
[13:50] {RonS} heretic
[13:51] {robbers} One of the EU's governing bodies said they might "force" Greece into a six-day work week.  Am thinking no way they'll agree to doubling their work week.
[13:51] {Will49} lol
[13:51] {Threei}  lol
[13:52] {robbers}
[13:54] {robbers} You can't "mandate" discipline.  If so, Three would be able to make all of us better traders.
[13:54] {Beau} nemo, sorry late but was out picking up new puter.  mine crashed.  setting up new one now but don't have blog address on yet. want to send it to me or will wait until all restored.  do want to see it. thans
[13:55] {robbers} As it is, he does everything humanly possible.
[13:55] {Will49} right on robbers
[13:55] {Threei}
[13:56] {robbers} And while he's making us better traders, he can make us better at table tennis, too.
[13:56] {jackharry} An interesting article on Greece -
[13:58] {Will49} If Germany isn't careful, Greece will cut off their supply of feta
[13:58] {Threei}  and olives
[13:58] {Will49} :)
[13:58] {robbers} And Grecian Formula 44.
[13:58] {Will49} lol
[14:39] {Threei} Short Setup: PAY  .20 break
[14:40] {Threei}  If holds  .30
[14:41] {Threei}  hey, in adition to table tennis, I can offer photography lessons and, if I massage my memory thoroughly, chess :)
[14:41] {robbers} You're Russian, we assumed chess.
[14:41] {Will49} no massage for me thanks
[14:42] {Threei}  well, russians are also known for ballet skills but I gotta warn you {GGG}
[14:42] {robbers} LOL.
[14:49] {Will49} what's the "restricted short sale" warning about?
[14:50] {Threei}  my wife just read this line over my shoulder... I may be responsible for her heart attack caused by hysterical laughter bout of which hit her after she squeezed words "you... dance... eeck"
[14:50] {Will49} lol
[14:50] {Threei}  hmmm... I didn't get it
[14:51] {Threei}  did your order go through?
[14:51] {Will49} no
[14:51] {Threei}  OK, not enough shares in broker inventory
[14:52] {Will49} said "price should be higher than national best price"
[14:53] {Threei}  oohhh
[14:53] {jackharry} I think it's the uptick rule - every short sale transaction be entered at a price that is higher than the price of the previous trade.  Read more:
[14:53] {Threei}  OK, that was uptick rule then
[14:53] {Threei}  try ARCA
[14:53] {Will49} yeah...i remember now
[14:53] {Threei}  it should allow order entering, it just won't hit bid,
[14:54] {cc_8} bingo
[14:54] {cc_8} if it doesnt hit the bid on a short
[14:54] {Threei}  but should keep order in the system until. it becomes an offer, and enter it in
[14:54] {cc_8} sit on the offer
[14:54] {Threei}  then you'll gbet filled if someone buys
[14:54] {cc_8} if that doesnt work, its just not shortable
[14:54] {Threei}  right
[14:55] {Threei}  wow, I still remember all these nooks and crannies
[14:56] {Will49} is that rule specific to certain stocks?
[14:57] {Will49} I've haven't seen that happen until now
[14:58] {jackharry} I think it applies if the stock has dropped more than 10%
[14:58] {Will49} tks jack... that would make sense
[14:59] {jackharry} The theory is that it allows longs who want to sell to get a chance first before shorters
[15:01] {dino} bstop to .85 fosl
[15:01] {dino} cov fosl +.25
[15:02] {Threei}  cover PAY who got it
[15:03] {Threei}  ain't it a beauty
[15:06] {Threei}  don't answer all at once
[15:07] {Will49} I'm in awe
[15:08] {Will49} thought that was a rhetorical question
[15:08] {Threei}  yeah yeah... everyone is all too happy to strangke me for each stop, but to get any praise for a winning trade, I have to get a 2x4 out
[15:08] {Threei}  sniff sniff
[15:08] {Will49} lol
[15:08] {Will49} pats Vad on top of head
[15:08] {Threei}  this just has to be nemo fault
[15:11] {Threei}  visual:
[15:22] {robbers} Nice picture of a cascade.
[15:22] {scottie} Was away Vad, miossed that one :(
[15:23] {scottie} Beautiful trade
[15:24] {Threei}  :(
[15:25] {Threei}  wow... 1: "I can't count this far"
[15:52] {Threei}  Ok guys, thank you all
[15:52] {Threei}  have a great evening, see you tomorrow
[15:52] {Will49} tks Vad
[15:52] {robbers} Good day, thanks.
[15:52] {Threei}  :)
[15:53] {dptl} gn all
[15:53] {dino} thks all, slightly down, 1st negative day since 8/17