Friday, September 7, 2012

Sep 7 2012

Catch of the Day - during raging bull market you take aggressive entries and let them run... and this is on top of quite a few nice wins earlier. Caviar on the bread with butter, so to speak.

Overall, great start to September; more volume, more activity, more trades going to 1:3 and farther.

Session Time: Fri Sep 07 00:00:00 2012
[08:44] {nemo} wow, we get passed 84.50 on IWM we're past the WR4...there be dragons
[08:47] {cipher} gm
[08:47] {Threei}  morning cipher
[08:48] {Threei}  I can't decide, wake up or trade sleeping
[08:50] {goryl} gm
[08:53] {nemo} I'd have to go to sleep first to be able to wake up
[08:54] {nemo} oh watched, "The Good, The Bad, and The Weird"   That was entertaining
[08:56] {Threei}  goryl :)
[09:00] {Threei}  missed best trade of the day yesterday...
[09:00] {Threei}  saw the screenshot?
[09:01] {goryl} yes, dbi
[09:01] {jackharry} good morning
[09:01] {Threei}  jack :)
[09:07] {goryl} vad, is there an option in the chat to enable a sound every time u make a post or trade alert?
[09:07] {ese} morning........missed you all yesterday...busy trying a new L FCX pre market .82
[09:07] {Threei}  in mirc, yes
[09:08] {Threei}  morning ese
[09:08] {Threei}  we had fabulous day yesterday...
[09:08] {ese} morning vad
[09:08] {ese} I can see just looking at stuff now........big up day lots of positive mrkt news i see
[09:09] {Threei}  positive news?? :)
[09:09] {Threei}  the only positive news was ECB promise to start buying bonds - IF you call that positive
[09:10] {Beau} good morning all
[09:10] {Threei}  beau :)
[09:10] {ese} economic news manu #'s up etc etc.........although employment dn today
[09:11] {Threei}  that all meant nothing
[09:11] {scottie} good morning
[09:11] {nemo} wow  db up 15% in two days
[09:11] {Threei}  it was ECB that goosed the market
[09:11] {Threei}  scottie :)
[09:11] {ese} missed that one..........what'dthey say
[09:12] {goryl} vad, i can't find it, is it under the menu option?
[09:12] {ese} out fcx .16 +.34
[09:13] {Threei}  are you using mirc to connect the room?
[09:13] {Threei}  they promised to buy sovereign bonds, ese
[09:13] {goryl} mibbit??
[09:13] {Threei}  no, mibbit has no sound alert
[09:14] {ese} that doesn't mean much to me...........what are "sovereign bonds"........hows that diff from the reg ones
[09:14] {goryl} ok
[09:14] {ese} is that something specific to the EU
[09:14] {Threei}  bonds issued by EU countries
[09:14] {ese} ah
[09:15] {Threei}  in other words, they will directly finance governments, while saying they don't
[09:15] {Threei}  and they practically promised to make bonds buying unlimited
[09:15] {Threei}  which means the end of financial system in EU
[09:16] {Threei}  but it allows them to postpone the collapse
[09:16] {Threei}  so they don't care
[09:16] {Threei}  that was brief version of apocalypsys coming
[09:16] {ese} hmmmmmmm............kinda get that
[09:17] {dptl} gm
[09:17] {ese} ddddddddddddddppppppppppppppp!!!!!!!!!!!!!!!!!!!!!!
[09:17] {dptl} :)
[09:18] {Threei}  dp :)
[09:18] {ese} i say that loudly inside my head.....................i like the ring it has
[09:18] {ese} dddddddddddddddddddddddppppppppppppppppppppp!!!!!!!!!!!!!!!!!!!1................and then it fades
[09:20] {dino} hmmm, fdx, ups, intc all lower this week and we are off to the races...
[09:20] {Threei}  I found better way to say it
[09:20] {Threei}  fiscal and monetary prudence are being defenestrated
[09:21] {ese} behmoths................have to rev up the engines on the sidelines for a bit then get going.........
[09:21] {ese} defenestrated...................whoa............
[09:21] {RonS} gm  ditto whoa...
[09:21] {Threei}  told ya :)
[09:22] {RonS} how do you say that in
[09:22] {dino} vad, how do i get a sound from mirc?
[09:22] {Threei}  or, this indicates that real economy is not going to benefit much from what props the market
[09:22] {Threei}  hot money sloshing around and finding its way to the market - how weill that benefit semis or FDX
[09:22] {Will49} gm
[09:22] {Threei}  will :)
03[09:23] * Looking up Threei user info...
[09:23] {Threei}  dino, it's not sound per se, it's a sound alert when someone you want to follow say something
[09:23] {dino} ok
[09:23] {dino} how do i turn it on?
[09:23] {Threei}  right click on the nick,
[09:24] {Threei}  Ucentral
[09:24] {ese} how do i turn off nemo
[09:24] {Threei}  or Info in some versions,
[09:24] {Threei}  Highlight tab
[09:24] {Threei}  Add
[09:24] {Threei}  and it's self-explanatory from there,
[09:24] {Threei}  don't forget to make sure sound is activated
[09:25] {Threei}  under Tools-Options-Sounds-Enable Alerts
[09:26] {goryl} ty
[09:26] {dino} thx
[09:27] {Threei}  here is a good chart
[09:27] {Threei}
[09:27] {Threei}  quite clear impact of all the money twisting on market,
[09:28] {Threei}  but how does actual econonmy beneits?
[09:29] {dino} six drop
[09:30] {Threei} Short Setup: FCX  .85 break
[09:30] {RonS} wow fcx
[09:30] {Threei}  hl
[09:30] {Threei}  Invalidated
[09:32] {Threei} Short Setup: EMR  .60 break
[09:32] {Threei}  change to .65
[09:32] {Threei}  If holds  .75
[09:33] {ese} shoulda held onto that fcx position
[09:33] {cipher} + .48 six thx dino
[09:33] {Threei}  touched 1:1, no secondary entry if missed it
[09:34] {Threei} Short Setup: FCX  .30 break
[09:34] {Threei}  change to .35
[09:34] {Threei}  hl
[09:34] {Threei}  If holds  .45
[09:35] {Threei}  1:1
[09:35] {nemo} pay short setting up
[09:36] {Threei}  1:2
[09:36] {Threei}  EMR 1:1
[09:36] {dino} gj yw cipher
[09:37] {nemo} mlnx
[09:38] {Threei} Short Setup: SLW  .20 break
[09:38] {Threei}  If holds  .30
[09:40] {Threei}  target 1:2
[09:41] {Threei}  no worky
[09:43] {nemo} spy at MR1
[09:43] {nemo} gs
[09:43] {nemo} sorry
[09:46] {Threei} Short Setup: LVS  .90 break
[09:46] {Threei}  If holds  .95
[09:46] {ese} L kft
[09:46] {ese} .89
[09:46] {Threei}  target .55 - .60
[09:46] {ese} sorry thats .79
[09:49] {dino} blox
[09:50] {Threei}  first partial here
[09:51] {Threei}  stop to .91
[09:51] {Threei}  Canada has closed its embassy in Iran, will expel all remaining Iranian diplomats from Canada within 5 days - @Reuters
[09:53] {Threei}  second partial here
[09:53] {Threei}  not too shabby for 5 cents risk
[09:53] {Threei}  stop to .85
[09:55] {dino} blox sm l .73
[09:55] {dolores} dont know why could not login
[09:55] {dolores} yesterday the same
[09:55] {dolores} it kocks me off
[09:55] {Threei}  wrong password...
[09:55] {Threei}  missed a few good ones
[09:55] {goryl} awesome trading vad, but i have not idea why you took that trade:)
[09:56] {Threei}  makes two of us
[09:56] {Threei}  stop to .81
[09:56] {nemo} Dolores, sorry missed you're request regarding the meaning of "slog"   It's basically means things will become slow, labored and difficult
[09:56] {dolores} no
[09:56] {dolores} password was fine
[09:56] {dino} cacc getting a bit of pulp, thin
[09:56] {dino} maxy odd
[09:57] {_catfish} so slw was a trade right?  did well on lvs
[09:57] {Threei}  SLW was stopped
[09:58] {_catfish} ok
[09:58] {goryl} lvs looked like a jbe setting up but that was a few min after u took the trade
[09:58] {Threei}  FCX and EMR worked, for 1:2 and 1:1 respectively
[09:58] {dino} pvg sm l .39
[09:58] {robbers} catfish, I think "no worky" means stopped, is that right Three?
[09:59] {Threei}  yes
[09:59] {cipher} IBM L 29
[09:59] {_catfish} got it
[09:59] {cipher} AAPL l.40
[09:59] {_catfish} lvs made up for it and then some
[09:59] {cipher} out aapl .14 +.74
[09:59] {Threei}  it get a bit ahead of itself on a spike from .30 to .90, goryl,
[10:00] {Threei}  paused, formed very nice tight setup, merely 5 cents risk
[10:00] {nemo} rig
[10:00] {Threei}  SPY started hesitating too
[10:01] {Threei}  some setups are not very pronounced but the risk is so small, they are worth playing on that alone
[10:01] {Threei}  Alan Farley even came up with scientifically-sounding name for them
[10:01] {thomcbell} fcx at risk here in my opinion - setup not there
[10:02] {thomcbell} a ton of volume -
[10:02] {Threei}  "risk-based setup" - or during beer conversation you'd call it "for 5 cents stop, just roll the frikin dice" :)
[10:02] {thomcbell} exhaustive volume i think
[10:02] {goryl} ty, it just happens so fast:)
[10:02] {Threei}  that's opening for you
[10:02] {Threei}  they are fast
[10:03] {Threei}  thinking ,.20 break, tbell?
[10:03] {ese} fast would be an understatement in some cases
[10:03] {Threei}  but LVS gave ample time for entry
[10:03] {nemo} rig break of .50 stop under .40
[10:03] {cipher} out ibm .60 +.31
[10:04] {goryl} i got all of them in demo mode of course but i want to learn the logic behind each setup
[10:04] {nemo} two way actually
[10:05] {goryl} Laser if freaky fast:)
[10:05] {dino} he must be assimulated
[10:06] {nemo} with 7 of 9, no problem
[10:06] {dino} indeed
[10:06] {Threei}  lol
[10:06] {dino} maxy sm l .67
[10:08] {nemo} hal
[10:09] {nemo} offering .64 rig
[10:10] {nemo} iwm grinding up probably .40 area
[10:11] {Threei}  oh wow
[10:11] {Threei}  read this
[10:11] {Threei}  White House: August unemployment data shows there is more work to be done but is further evidence economy continuing to recover
[10:11] {Threei}  how do they not gag on their own words??
[10:12] {goryl} they're smokin' hopium:)
[10:12] {nemo} it's their profession to lie
[10:12] {Will49} keep the suckers in the dark
[10:12] {Threei}  let me try that
[10:13] {robbers} Three career choices: 1) use your body...2) use your brain...3) become a politician.
[10:13] {RonS} Joseph Goebbels:  If you tell a lie often enough people believe it
[10:13] {Will49} smokin or lyin'?
[10:13] {Threei}  remember that SLW stop? It was a win actually, we just need some more work on it
[10:13] {nemo} big enough and long enough
[10:14] {Threei}  hmmm... I kinda like it
[10:14] {Threei} Short Setup: FCX  .65 break
[10:14] {Threei}  hl
[10:15] {Threei}  If holds  .75
[10:15] {Threei}  target 1:2
[10:15] {dino} pvg to .79
[10:16] {Threei}  need more work on this FCX winning trade
[10:17] {dolores} still valid?
[10:17] {nemo} algo I follow showing persistent bids under the market
[10:17] {Threei}  no
[10:17] {nemo} and expanding
[10:17] {dolores} ok
[10:18] {thomcbell} fcx crazy must be the xstrata
[10:18] {dolores} they have been hammered so much
[10:18] {dolores} that today picking up
[10:19] {Threei} Long Setup:  CAT  .75 break hl
[10:19] {dino} yeah, look clf
[10:19] {Threei}  If holds  .65
[10:19] {Threei}  target 1:2
[10:21] {Threei}  .80 break should catapult it
[10:21] {dino} blox to .93 thing stalled
[10:22] {dino} pvg to .89
[10:22] {Threei}  1:1
[10:22] {Threei}  play by the book
[10:22] {Threei}  half and trail
[10:23] {nemo} should really fly if it beeaks .90
[10:23] {Threei}  unless you are a scalper in which case my guidance is to be defenstrated
[10:23] {Threei}  this might become new favorite word
[10:24] {nemo} stop on rig is under .60
[10:24] {dino} pvg to .09
[10:25] {dino} out ovg .09, +.70
[10:25] {RonS} gj
[10:25] {Threei}  wtg
[10:25] {dino} ty
[10:26] {cipher} nice dino
[10:28] {dino} thx
[10:30] {nemo} I would think about adding to cat if it breaks .90
[10:30] {nemo} this could be the flush
[10:31] {Threei}  - Germany Chancellor Merkel: Continuing to work on the financial transaction tax (tobin) proposal
[10:31] {Threei}  and here I thought she was a sane one
[10:31] {nemo} both she and sarkozy came out for it last year
[10:31] {_catfish} mini flush and run
[10:32] {nemo} yep, likely a long
[10:32] {Threei}  (US) Goldman economist Hatzius: Aug jobs data today virtually guarantees some kind of easing action next week at Fed meeting (vs prior estimate of a high chance) - CNBC interview- Cyclical sectors are not telling a very positive story, and that justifies more Fed action.
[10:32] {dino} out blox .96, +23
[10:32] {dolores} covered
[10:33] {Threei}  yes... we do it for 4 years straight, and it doesn't work - let's do more of it
[10:33] {nemo} I'm adding to cat
[10:33] {nemo} playing for the break
[10:33] {_catfish} what's your target nemo?
[10:34] {_catfish} just 10c?
[10:34] {nemo} vad...shove a hot poker up cat's ass
[10:34] {Will49} ouch
[10:34] {Threei}  his target is always the same - to get drunk before the day is over
[10:34] {RonS} lol
[10:34] {nemo} like in the movie, loved that scene
[10:34] {nemo} alright bought more cat here
[10:35] {nemo} mhhhh....starting to pucker
[10:35] {Threei}  catfish... nemo often goes for bigger moves
[10:35] {Threei}  he is more patient one
[10:35] {nemo} 1sth hour highs break
[10:35] {nemo} this is a classic setup
[10:35] {Threei}  I would say 88.20 - .30 is very likely
[10:35] {nemo} I didn't take Vad's entry, I saw the high at 9:45
[10:36] {nemo} yeah baby
[10:36] {_catfish} i'm playin it for 88.20 ish
[10:36] {nemo} when I saw that flush and rebid, new it was going
[10:36] {_catfish} and he can screw a donkey all day for all i care if he can trade;)
[10:36] {dino} couple fish talking
[10:36] {nemo} whoa...dino throws out an insult
[10:36] {Threei}  lol
06[10:36] * nemo faints
[10:37] {nemo} partialing here
[10:37] {cipher} ibm l.70
[10:37] {Threei}  ron, in case you missed it earler... nemo wacthed and liked that korean western... you may have waken up a monster
[10:37] {nemo} the weird guy was the best
[10:37] {thomcbell} its like Tarantino
[10:38] {RonS} hmmm...did miss that, glad you liked it
[10:38] {nemo} with a cross of Mel Brooks
[10:38] {nemo} I'm out
[10:38] {nemo} oh well
[10:38] {nemo} made a few
[10:38] {Threei} Long Setup:  CLF  .05 break hl
[10:39] {Threei}  If holds  .95
[10:39] {Threei}  - NYSE volume 162M shares, about 5% above its three-month average; advancers lead decliners by 2.1:1. - NASDAQ volume 435M shares, about 20% above its three-month average; advancers lead decliners by 1.5:1.
[10:39] {Threei}  volume really started picking up
[10:40] {Threei}  CLF target 1:3
[10:40] {_catfish} me to at.95
[10:40] {Threei}  1:1
[10:41] {nemo} frickin rig shook me
[10:41] {nemo} frickin' cat
[10:42] {Threei}  1:2
[10:42] {goryl} mini jbe vad?
[10:42] {Threei}  yup
[10:43] {nemo} should be good to the .70s
[10:43] {Threei}  1:3 baby... nice and easy
[10:43] {goryl} did the scanner pop that out or were u watching the chart?
[10:43] {Threei}  no single pullback, right into target
[10:43] {Threei}  this one was from usual suspects list
[10:43] {nemo} hold to the 70s
[10:43] {Threei}  1:4
[10:43] {goryl} unbelievable vad...:)
[10:43] {Threei}  I am?
06[10:43] * Threei takes a bow
[10:45] {_catfish} nice vad
[10:45] {cc_8} party money
[10:45] {Threei}  ty
[10:46] {cc_8} notice i didnt say beer money
[10:47] {Threei}  cognjac guy?
[10:47] {cc_8} actually these days im into wine
[10:47] {cc_8} i cant handle liquor
[10:47] {Threei}  may I have my shot of hennessy paradis please?
[10:48] {cc_8} vodka is the choice but still get hammered
[10:48] {dino} enjot vodka myself
[10:48] {dino} enjoy
[10:48] {dino} mlnx ?
[10:49] {nemo} I drink wine with breakfast
[10:49] {Threei}  just downgrade today, MLNX
[10:49] {Threei}  nothing significant
[10:49] {cc_8} lol@nemo
[10:49] {nemo} buy
[10:49] {nemo} grape juice
[10:49] {dino} thats all i see, plus intc guidance lowered
[10:49] {cc_8} ..
[10:49] {Threei}  tried dp's and mine favorite dino? Russian Standard
[10:50] {nemo} o.k. clf coming up on target
[10:50] {goryl} belvedere please..
[10:51] {jackharry} Vad... Russia vs Northern Ireland World Cup qualifier starting in 10 minutes....... another CLF type trade would help make up for the hammering we are likely to receive
[10:51] {dino} have to get a bottle
[10:51] {nemo} frickin' cat
[10:51] {Threei}  got it... looking
[10:52] {nemo} offering .68 for last
[10:54] {_catfish} ty lulu
[10:54] {nemo} o.k.  having said that I think it makes it to 39
[10:55] {nemo} mos
[10:57] {nemo} yeah, clf still looking bullish
[10:57] {goryl} vad, today I took all ur trades in the demo mode.  On the 5 winners, I made 8 cents on each trade because of 2 cent slippage on the fill.  However, on the 2 stops, I took a 12 cent loss on each.  Am I doing something wrong?  I'm still making $ but i'm not taking 1:1 on each of the winners...
[10:57] {nemo} IWM just hit Weekly R4 that's amazing
[10:57] {ese} cya monday have a great weekend
[10:57] {Threei}  take care ese
[10:58] {Threei}  goryl, you are not doing anything wrong, it's just worst case scenario
[10:58] {Threei}  not every fill is going to be 2 cents away
[10:58] {goryl} ok, just wanted to confirm, ty
[10:58] {Threei}  they swipe available shares UP to 2 cents away
[10:59] {Threei}  then, those where you are partialing and riding them will more than make up for those slippages
[10:59] {goryl} i'm not sure, maybe the demo mode is causing that much slippage
[11:00] {nemo} you using market orders goryl?
[11:01] {goryl} for the past three days i've been able to catch 99% of ur calls but i take my money at 1:1.  So scalping.  Should i be scaling out vs. scalping?
[11:01] {goryl} i'm using limit orders nemo
[11:01] {Threei}  I can't answer this question...
[11:01] {cipher} mos l.27
[11:02] {Threei}  pick of trading style is a matter of personal preferences
[11:02] {goryl} i understand..
[11:02] {cipher} out mos .33 +.06
[11:02] {Threei}  I like brunettes... can I tell you to like them too?
[11:04] {dino} everybody must find their own edge goryl
[11:05] {nemo} why is lulu up 6 bucks
[11:05] {dino} beat
[11:05] {Threei}  mine is Glenlivet and Hennessy...
[11:05] {dino} no, thats for takig edge off
[11:05] {Threei}  dp is fine with Stolychanya
[11:05] {goryl} I know:) it'll take time
[11:05] {nemo} yechhh
[11:05] {Threei}  but I disagree with him
[11:05] {nemo} Tito's
[11:06] {dino} ddd drop
[11:07] {dino} sm l .73
[11:07] {goryl} vad, how did you pick the target for clf to 1:3?
[11:08] {dptl} qlik? 24 long?
[11:09] {Threei}  no, too narrow
[11:09] {Threei}  you'll hate my answer goryl
[11:09] {Threei}  gut feel
[11:09] {Threei}  nothing scientific
[11:10] {Threei}  when a stock breaks day high and has nothing on the chart from nearest day's, it's uncharted teritory
[11:10] {Threei}  there is nothing to indicate exat target, all you can do is rely on evaluation of its volatility and strength,
[11:10] {Threei}  and those are not exact measurable things
[11:10] {goryl} that's my problem, i over analyze.... damn engineering mind...I'm looking for black and white answers:)
[11:11] {Threei}  you just feel it
[11:11] {Threei}  I know what you mean
[11:11] {nemo} drinking may be the answer
[11:11] {Threei}  engineering background here too
[11:11] {Threei}  but trading is a mix of science and art
[11:11] {Will49} and vermouth
[11:11] {Threei}  that too
[11:12] {Threei}  and art part is not quantifiable
[11:12] {Threei}  some will tell you it ism, and will refer to things like golden ratio, rule of thirds etc
[11:12] {Threei}  but that's science part in art,
[11:12] {Threei}  just like any chart analysis
[11:13] {nemo} tell him about the dead chickens
[11:13] {Threei}  you can put some science in,
[11:13] {Threei}  and it does help
[11:13] {dino} "gut"
[11:13] {Threei}  and then, on top of all that, you look at the T&S,
[11:13] {dino} ddd stop -.30
[11:13] {Threei}  and you just feel that hidden tension
[11:13] {goryl} goats??:)
[11:13] {nemo} the chikens vad...
[11:13] {nemo} goats....mmmmmmhhhhh
[11:13] {Threei}  that tells you this thing is going to, umm, how do you spell it...
[11:14] {Threei}  iksplode
[11:14] {nemo} I'll have to think about that
[11:14] {nemo} frickin' clf, bull flagging
[11:14] {Threei}
[11:14] {Threei}  this image should help
[11:14] {nemo} goats are actually cool
[11:15] {goryl} awesome..
[11:15] {dino} vsm l mlnx .05, pulp
[11:15] {dino} wide
[11:15] {Threei}  look at QLIK
[11:15] {Threei}  dp just asked about it,
[11:15] {Threei}  and I see why,
[11:15] {Threei}  chart is a breakout chart
[11:16] {Threei}  now, look at L2, T&S,
[11:16] {Threei}  is there energy or is it a jellyfish?
[11:16] {goryl} jelly
[11:17] {Threei}  there you go
[11:17] {Threei}  can you explain how you feel it?
[11:18] {dino} ddd rinsed
[11:18] {Threei}  I can try but it won't be true really
[11:18] {Threei}  you just feel it
[11:18] {goryl} no rhythm...?
[11:18] {Threei}  it's drifitng aimlessly, there is no drive
[11:18] {nemo} mos maybe
[11:18] {nemo} long
[11:20] {thomcbell} fcx amazingly resilient -
[11:20] {thomcbell} trying to have a bit of a correction now
[11:21] {nemo} oooohhhhh aig
[11:21] {nemo} juicy looking short
[11:21] {nemo} I'd rather see a retraace to .64 or even VWAP
[11:26] {dino} clf sm s .49 stop hod
[11:27] {dptl} gmcr .20 long?
[11:27] {nemo} look downtrend line
[11:28] {Threei}  not sure, dp...
[11:28] {nemo} lvs interesting
[11:28] {Threei}  50/50
[11:28] {nemo} l .17
[11:28] {dptl} in .21
[11:29] {dino} clf stop .55 -.06 mkt reversed
[11:29] {nemo} stop under .10
[11:31] {dptl} stopped
[11:31] {dino} clf rinsed
[11:32] {nemo} offering .28 lvs
[11:33] {nemo} Neil Diamon stage
[11:34] {dino} 50 ma keeps rejecting mnlx
[11:35] {Threei}  just to finish the discussion earlier,
[11:35] {Threei}  look at QLIK again
[11:35] {Threei}  see how it goes absolutely nowhere
[11:35] {Threei}  bobbing up and down 1-2 cents
[11:36] {Threei}  not even enough volume for frikin HFT to scalp it!
[11:38] {Threei}  nice LVS
[11:38] {scottie} HFT ?
[11:38] {Threei}  high frequency trading...
[11:38] {scottie} thanks
[11:39] {Threei}  scarecrow used by those who can't trade to explain to others why they shouldn't either
[11:39] {Will49} :)
[11:41] {Threei}
[11:42] {Threei}  - Equity markets are responding calmly to today's August payrolls disappointment, thanks mostly to yesterday's ECB bond news, the Chinese stimulus news and the realization that the news practically guarantees QE3. The payroll numbers were brutal, with the headline nonfarm, private and manufacturing numbers all widely missing expectations.
[11:42] {Will49} Obammy won't like that
[11:42] {Threei}  The overall unemployment rate fell to 8.1% but the decline was for all the wrong reasons, mostly due to unemployed individuals dropping out of the workforce.
[11:43] {Will49} Obammy will like that
[11:43] {Threei}  A Goldman Sachs note suggested that Fed officials will agree to unsterilized, open-ended bond buys
[11:43] {RonS} ...the % would be 11 if the labor force participation rate was at the level at the beginning of the O's ter
[11:44] {Threei}  - Intel slashed its Q3 revenue guidance and withdrew its FY12 forecast this morning. The company warned that revenue was weak due to flagging demand in a challenging macroeconomic environment, with customers reducing inventory in the supply chain at a time when they usually increase inventory. Intel also said emerging market demand, an area of strength cited by numerous other IT firms, is slowing.
[11:44] {RonS} term
[11:44] {Threei}  summer of recovery, my a$$
[11:45] {RonS} 365k quit the labor force last month
[11:46] {RonS} in the meantime "re-elect me", it's Bush's fault...
[11:47] {Will49} I almost puked watching the speeches last night
[11:48] {Threei}  it's amazing... by constant refrain "Romney's policies are Bush policies" they hope to win second election running against Bush
[11:48] {Will49} It's a sad commentary on the state of the nation when the politicians believe that the majority will swallow the bull
[11:48] {RonS} funny thing that left and right commentators panned O's...
[11:48] {Threei}  if they do, that tells you all you need to know about current state of affairs in USA... and its future (hint: USSR's past)
[11:49] {Will49} Ron..were you watching Fox?
[11:50] {Will49} Last night was it for more CNN
[11:50] {RonS} no...just reviewed commentary on drudge, daily caller and breitbart
[11:50] {dptl} how about now gmcr?
[11:50] {Threei}  same dp
[11:50] {Will49} CNN people were gushing in praise
[11:50] {Threei}  not delighted
[11:50] {RonS} wish Charles Krauthammer could be Prez...
[11:51] {thomcbell} lvs nice return on investment had u bought that dreadful earnings report
[11:51] {nemo} Ride come on baby, ride
[11:51] {RonS} hey Will, haven't you heard...noone watches CNN anymore...
[11:51] {nemo} LVS baby....
[11:52] {Will49} I'm the last one I guess
[11:52] {Threei}  from cinference organizers: "On Friday, with the extremely popular Vad Graifer teaching his trading methods,"...
[11:52] {Threei}  me is extremely popular
[11:52] {Threei}  you turned the lights off leaving, will?
[11:52] {Will49} eggsactly
[11:53] {Threei}  questionable spelling...
[11:53] {Threei}  eqzaktly
[11:53] {nemo} Ipm partialing .70
[11:56] {Threei} Short Setup: LVS  .60 break
[11:56] {Threei}  If holds  .70
[11:56] {dptl} lol gmcr
[11:56] {Threei}  DNC chair just said that one of three big ideas offered by Obama was adding 1 million manufacturing jobs
[11:57] {Threei}  I think they confuse idea with wishful thinking
[11:57] {robbers} Maybe they'll be manufacturing BS.
[11:57] {robbers} Oh, wait, that's the job of politicians.
[12:02] {nemo} stop for last under .50
[12:05] {RonS} he could get 3 million jobs...kill the epa...
[12:08] {nemo} out lvs
[12:11] {dino} you want a few million more jobs, ease up on drilling restricted areas
[12:16] {Threei}  (GR) Greece PM Samaras: Greek people have reached their limit with austuerity; economic recovery is key for meeting budget targets- EU Pres Van Rompuy: had constructive talks with Samaras; Greek coalition govt has promised to follow through on its agreements. - Greece must push ahead against vested interests in reform measures, crisis today is no longer a Greek one, collective action is necessary.
[12:18] {RonS} "collective action" = Greece collects more loans...
[12:18] {Threei}  and then exits
[12:19] {Threei}  now, Spain should hurry and get some loans oo - and exit while ahead
[12:19] {dino} i think thats what the plan is
[12:19] {Threei}  and it must hurry, before Greece does that
[12:26] {goryl} have a good weekend everyone
[12:26] {Threei}  covered LVS?
[12:26] {goryl} thanks vad,  can't wait till monday:)
[12:26] {Threei}  :)
[12:26] {Threei}  have a good weekend
[12:27] {thomcbell} bought small slw
[12:27] {thomcbell} on 36.38 break
[12:32] {Threei}  anyone played LVS short?
[12:32] {Threei}  cute clean setup
[12:33] {scottie} yes, played it in the demo
[12:33] {scottie} nice play
[12:33] {scottie} Learning to use Laser these days.
[12:35] {scottie} switching from DDXtra
[12:37] {RonS} ddd...death...
[12:38] {scottie} :)
[12:43] {Threei}  are you better off than you were 4 trades ago?
[12:45] {scottie} as usual, slowly learning
[12:45] {thomcbell} fcx an absolute beast
[12:45] {thomcbell} comedy
[12:47] {thomcbell} slw 1:1
[12:48] {thomcbell} targeting 36.70
[13:04] {Threei}  president, summing up his auto industry achievements:
[13:04] {Threei}  �Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry."
[13:05] {RonS} logical conclusion: government takeover of all manufacturing...
[13:08] {Threei}  and having unions run it
[13:09] {RonS} ...what could go wrong?
[13:09] {Threei}  Those who don't learn the history are doomed to repeat it. Those who do learn it are doomed to watch helplessly how those who don't are repeating it
[13:10] {RonS} George Santayana?
[13:10] {Threei}  no idea
[13:12] {nemo} among others
[13:13] {dino} bnny giong nuts
[13:13] {RonS} actually run by a former wall street lady who seems nice...
[13:14] {nemo} sleeping
[13:14] {Will49} cc_9  PM please?
[13:15] {scottie} cc_8 has received a promotion from Will
[13:15] {Threei}  lol
[13:15] {Will49} my only friend
[13:16] {Threei}  I just wanted to say something about you needing to get out more but then realized my only friend is nemo... so I better shut up
[13:16] {Will49} anyway, he'd have to serve some time as a cabinet minister first
[13:21] {RonS} whoa pphm
[13:27] {dolores}  -- Interim Data from Double-Blind, Placebo-Controlled Trial Presented at Late-Breaking Plenary Session at Leading Oncology Symposium -- Data Show Statistically Significant Improvement in Overall Survival for Patients Receiving Bavituximab Plus Docetaxel Versus Docetaxel Alone -- Clinical Data Strongly Support Advancing Program into Phase III Clinical Develop
[13:28] {dolores} PPHM
[13:29] {RonS} small cell lung cancer...
[13:30] {nemo} wish they had that for my mother
[13:34] {Threei}
[13:48] {dolores} Funny CLF and FCX same price at the same time
[14:07] {dolores} except  CLF seems much stronger
[14:07] {dolores} nice call from UBS
[14:09] {dino} value added
[14:11] {dino} abmd sm l .76
[14:14] {Will49} market up or down into close?...what's the consensus
[14:20] {dino} up
[14:21] {dino} abmd to .06
[14:23] {Will49} tks dino,  know we don't make predictions here but was just wondering
[14:23] {dino} out abmd .14, +.38
[14:23] {dino} np will, just gut feeling
[14:23] {Will49} what you experienced guys thought
[14:24] {dolores} CLF on its way to closing the gap
[14:24] {dolores} breaking highs again
[14:24] {dino} mlnx sm l .00
[14:26] {nemo} vwap run dino?
[14:26] {dino} thats what i'm seeing
[14:28] {thomcbell} mww
[14:28] {thomcbell} wicked afternoon
[14:29] {Threei}  Top Congressional Leaders Are A Little Less Disliked
[14:29] {Threei}  klol
[14:30] {Will49} like the economy getting a little better
[15:01] {nemo} BIDU
[15:01] {nemo} l .18
[15:01] {nemo} got .17
[15:02] {nemo} stop is .05ish
[15:02] {nemo} I have a wile e. coyote feel about this one
[15:03] {nemo} partialling .45
[15:03] {nemo} maybe not
[15:05] {nemo} oh oh
[15:08] {nemo} scratching
[15:35] {Threei}  stall is practically whole day long today
[15:35] {Beau} have a good weekend all.
[15:36] {Threei}  you too beau
[15:36] {Threei}  good day, even though inactive afternoon
[15:39] {dolores} yes I s CLf but covered too soon
[15:39] {dolores} would have been great!
[15:43] {nemo} just found out I can link my trading platform to Freestockcharts   woodness
[15:44] {dptl} you use laser nemo?
[15:44] {nemo} Takion
[15:45] {dptl} Vad would say :)
[15:46] {scottie} ok, have a great weekend all, see you monday
[15:46] {Threei}  you too scottie
[15:46] {Threei}  ok guys, very decent week
[15:47] {Threei}  encouraging start to Sept
[15:47] {Threei}  with more to come
[15:47] {Threei}  have a great weekend, see you Monday
[15:47] {dptl} good weekend all
[15:53] {dino} calling it a week, thx all
[15:53] {dolores} bye guys have agreat weekend !
[15:53] {dolores} thxs !!!!!