Another back and forth day. That's quite unusual for October, normally market is more determined and we have easy time. Something keeps market tense and nervous.
Session Time: Wed Oct 10 00:00:00 2012
[08:55] {cipher} gm
01[08:59] {Threei} morning cipher
[09:06] {goryl} gm
01[09:06] {Threei} goryl :)
[09:11] {scottie} GOOD MORNING
[09:11] {scottie} Damn capitals again, sorry
01[09:11] {Threei} scottie :)
01[09:11] {Threei} that's OK, probably woke nemo right up
[09:12] {scottie} and you think it's a good thing !!
[09:12] {nemo} I'm playing with bunny
01[09:15] {Threei} if he wanted to sleep a bit more, hell yeah I think so!
[09:16] {nemo} sleep?
[09:16] {nemo} What's that?
[09:19] {Beau} gm
01[09:19] {Threei} beau :)
[09:20] {Will49} good morning
01[09:20] {Threei} will :)
01[09:24] {Threei} practically flat opening
[09:27] {robbers} Boooooo.
01[09:27] {Threei} let's skip couple minutes to see if market dcecides on direction
01[09:27] {Threei} ummm... good morning to you too, robbers
[09:27] {thomcbell} i want to see how CMI deals with this report and down 5% pre-open
[09:27] {robbers} LOL, I was boooing the flat opening, but you can take it personally if you'd like.
01[09:28] {Threei} hehe
01[09:28] {Threei} CMI, volatility will be huge on this one
01[09:28] {Threei} careful
[09:28] {nemo} watch cat then too
01[09:30] {Threei} FCX
01[09:30] {Threei} watching for bounce
[09:30] {nemo} mon
[09:30] {thomcbell} fdx? up 3.3%
01[09:31] {Threei} Long Setup: FCX .40 break hl
01[09:31] {Threei} If holds .30
[09:32] {nemo} looking at daily looks like short
01[09:32] {Threei} 1:1
01[09:32] {Threei} FDX several upgrades
01[09:32] {Threei} presentation on cost cutting
01[09:34] {Threei} Short Setup: POT .70 break
01[09:34] {Threei} If holds .80
01[09:36] {Threei} Long Setup: FCX .35 break
01[09:36] {Threei} If holds .25
01[09:36] {Threei} POT 1:1
01[09:37] {Threei} Invalidated FCX
[09:38] {nemo} wow, lack of liquidity everywhere
01[09:39] {Threei} Long Setup: CAT .35 break hl
01[09:40] {Threei} If holds .25
01[09:41] {Threei} nope, not yet
[09:43] {thomcbell} now looking for a long setup in fcx
01[09:43] {Threei} Long Setup: AOL .10 break
01[09:43] {Threei} If holds 36
[09:43] {thomcbell} ETN very impressive
[09:44] {thomcbell} was down at 45 pre-open
01[09:44] {Threei} 1:1
01[09:44] {Threei} in a hurry
[09:46] {thomcbell} long setup fcx 40 break if holding 39.89
[09:46] {thomcbell} too late
01[09:49] {Threei} ugh... CAT .20 was it
[09:51] {scottie} sbux s 47 ?
01[09:52] {Threei} yes
[09:53] {scottie} too fast
[09:55] {thomcbell} etn looking like a short here
[09:55] {thomcbell} looking to short a retrace up to 45.85
[09:55] {nemo} fcx
01[09:58] {Threei} Long Setup: FCX .20 break
01[09:58] {Threei} If holds .10
[09:58] {nemo} this is the 50sma for iwm
01[09:58] {Threei} target 1:3
01[10:03] {Threei} 1:1
[10:08] {scottie} partialled out at .30 and .40, out in full at .28 tks Vad
01[10:09] {Threei} :)
[10:13] {nemo} wow WMT
[10:20] {thomcbell} covering half etn 45.55
[10:25] {scottie} emc s .05 ?
[10:25] {thomcbell} covering balance etn here 45.47
[10:26] {scottie} forget it
[10:35] {thomcbell} long setup rtn 55.15 break if holding 55.05
01[10:37] {Threei} Long Setup: LVS .75 break
01[10:38] {Threei} .69 stop
01[10:40] {Threei} whoa
[10:41] {nemo} whoa what? chin hit the keyboard?
01[10:41] {Threei} do you see the same SPY that I see?
[10:41] {nemo} what specifically, the range?
[10:42] {nemo} or lack thereof?
01[10:42] {Threei} I guess we are in different universes...
01[10:42] {Threei} you don't see the sharp red bar?
[10:43] {thomcbell} OK long small rtn 55.16
[10:43] {nemo} I see a sharp red bar for .10
[10:47] {scottie} amrn l .20 iof holds .15 ?
01[10:47] {Threei} if you want a 5-7 cents trade...
01[10:47] {Threei} Short Setup: LVS .55 break
01[10:48] {Threei} Swing State Tracking: #Romney 49%, #Obama 47%
[10:51] {thomcbell} etn - darnit
[10:52] {scottie} missed amrn
[10:52] {nemo} frickin' wmt
[10:53] {Will49} lots of cussin this morning:)
[10:53] {nemo} alternate universe WMT going momo
01[10:53] {Threei} I don't know why... decent morning
[10:56] {thomcbell} qcom looks like a long for 0.20 cents or so
[10:56] {thomcbell} not playing VAD!
01[10:56] {Threei} QCOM?
01[10:56] {Threei} I hate it
[10:57] {thomcbell} i bought a little ARO - i think a pullback to 13.10ish can be bought
[10:59] {nemo} think qcom got another buck of downside
[10:59] {thomcbell} especially if aapl turns tail
[11:00] {nemo} two way setup
[11:00] {nemo} short under .74
[11:01] {nemo} stop .86
[11:02] {thomcbell} slw wicked
[11:03] {nemo} looking for .50ish for first partial
01[11:04] {Threei} Long Setup: TNA .75 break hl
01[11:05] {Threei} If holds .65
[11:07] {scottie} once again, too fast for me :(
[11:07] {Will49} as for me
01[11:07] {Threei} hmmm... .76 was there...
01[11:07] {Threei} 1:1
[11:07] {nemo} set your order .02 higher than the trigger
[11:08] {cipher} 75 easy entry for me
[11:08] {Will49} did..still didn't fill
[11:08] {Will49} just takes practice I guess
[11:09] {scottie} I set my order to .77, but still diod't fill
[11:09] {scottie} didn't
[11:09] {nemo} might have jumped
[11:09] {cipher} what route scottie?
[11:09] {nemo} stop to .80ish qcom
[11:09] {scottie} isld
[11:09] {cipher} aha that's why
01[11:09] {Threei} in this particular case, it's a bit weird... it was available
01[11:10] {Threei} do you have route out checked?
[11:10] {cipher} isld sucks for me
[11:10] {cipher} never use it
[11:10] {Will49} had ARCA
[11:10] {nemo} I'm liking this qcom weakness in the market strength
[11:10] {scottie} How Vad
01[11:10] {Threei} right click on level 2 please,
01[11:11] {Threei} right column, mid sewction, says Route Out
01[11:11] {Threei} make sure all boxes are checked in there
[11:12] {scottie} ok done, what does that do
01[11:12] {Threei} if the box matching your ECN of choice is not checked, it will hit only orders within that ECN
01[11:12] {Threei} if it is, it will go out and hit all other orders
[11:13] {scottie} Will probably help me a lot in getting in :)
01[11:13] {Threei} so, your ISLD might have looked for ISLD iffers, didn't find any and quit
01[11:13] {Threei} instead of hitting whatever was available
[11:14] {scottie} tks, great
[11:19] {scottie} vlo s .30 ?
[11:20] {nemo} out qcom
01[11:21] {Threei} or long .40
01[11:21] {Threei} can't tell which is more likely
[11:21] {scottie} ok tks
[11:26] {scottie} in .29
[11:26] {nemo} dltr l .35
[11:26] {nemo} boredom trade
[11:26] {nemo} stop under .30
[11:28] {nemo} I dino'd the stock
[11:29] {nemo} partialing .48
[11:30] {nemo} next target .70ish
[11:30] {scottie} wtf, it coverd everything at .23 without order ???
01[11:31] {Threei} huh?
01[11:31] {Threei} rise of the machines?
[11:31] {scottie} had an oms stop order placed at .41
[11:32] {scottie} never got there but covered anyway, that's strange
[11:32] {nemo} stop .40ish
01[11:34] {Threei} Short Setup: CAT .35 break
01[11:35] {Threei} If holds .45
[11:35] {thomcbell} short setup - slw 39.10 break if holding 39.20
01[11:36] {Threei} SPY loses .80, freefall should ensue
01[11:36] {Threei} women and children are to be defenestrated
[11:36] {thomcbell} Wal-Mart's Sam's Club to carry Children Place items - from 11:05
[11:37] {nemo} SPY lows
[11:37] {nemo} IWM closing in on lows, watch for bounce
[11:40] {thomcbell} spy 143.54 is monthly pivot right NEMO?
01[11:40] {Threei} Voters Trust #Romney 50% to 43% Over #Obama on# Economy
[11:40] {nemo} yep
[11:41] {thomcbell} i covered 1/2 slw at 39.01 - stop to 39.09 on balance
01[11:42] {Threei} come on CAT...
01[11:42] {Threei} 1 cent to 1;1?
[11:42] {nemo} warned ya'
[11:43] {thomcbell} flattening slw here
[11:48] {thomcbell} plce acting well now
[11:50] {thomcbell} too thin i suppose
01[11:52] {Threei} 1:1
01[11:52] {Threei} finally
01[11:53] {Threei} 1:2 baby
01[11:53] {Threei} let the defenestration continue
[11:54] {scottie} laser coverd again without order, gotta talk to +cc_8
01[11:54] {Threei} need 2x4?
[12:03] {nemo} fdx might be long off vwap here
[12:03] {nemo} nope
01[12:03] {Threei} Short Setup: FCX 40 brak
01[12:03] {Threei} If holds .10
01[12:03] {Threei} was it with OMS odrer again, scottie?
[12:04] {scottie} yes
01[12:04] {Threei} something's wrong in programming there... I don't know why you need that crap anyway
01[12:07] {Threei} got FCX? don't put any OMS in, enter bid at 1:1, and change rpice in order bar to 40.12, and keep your finger ion buy button if it approaches ,10
[12:08] {scottie} tks, I'll do
01[12:16] {Threei} no go
01[12:17] {Threei} don't forget to cancel that .0- bid
01[12:17] {Threei} .90
[12:17] {scottie} I did tks
01[12:35] {Threei} no news during whole day to assign these drops to
01[12:36] {Threei} (GR) JP Morgan CEO: A Greek default by itself would not be a catastrophe, however it could set off a domino effect in Europe
01[12:41] {Threei} Short Setup: KSS .40 break
01[12:41] {Threei} If holds .50
01[12:50] {Threei} SPY remains in downtrending channel
01[12:51] {Threei} if trend holds, it should drop and make new low from here
01[12:51] {Threei} if goes over .50, trend will have changed
01[12:53] {Threei} there you go... like a clock
01[12:54] {Threei} let's trail stop to .46 to protect against double bottom
01[13:08] {Threei} ok, let's trail to .41
01[13:08] {Threei} SPY starts looking like reversal is close
01[13:13] {Threei} Long Setup: CAT 83 break
01[13:13] {Threei} If holds .90
01[13:16] {Threei} target 1:3
01[13:19] {Threei} no go
01[13:28] {Threei} anyone is alive out there?
[13:29] {Will49} alive but not well
[13:29] {Will49} but it's early
[13:30] {thomcbell} im here - still - just watching right now
[13:31] {scottie} when .46 printed, I hit the button and sold at .45, and now of course it's going down, bad day to buy lottery tickets
[13:57] {nemo} cup of coffee or glass of Jack?
[13:58] {nemo} o.k. glass of Jack
[13:58] {goryl} Vad, as far as trade management, on a day like this Monday, do you reduce ur size after ur stoped a few times or do u continue? I know it's a personal preference but i'm trying to put together a sound managment plan.
01[13:58] {Threei} reducing size is good idea
[13:59] {nemo} goryl, how do you feel after a few stops?
01[13:59] {Threei} keeping it smaller until winning streak is regained
[13:59] {goryl} Offcourse i started trading live this Monday:)
[14:00] {goryl} it doesn't hurt me now because my trade size is small but i want to control those types of situations better
[14:00] {nemo} O.K. well more than likely your emotions will go a bit on tilt after a series of losses, so....
[14:00] {nemo} more than likely staying disciplined on the next trade will become more difficult
[14:01] {nemo} you will be more likely to pull the trigger on a stop before the stop is reached
01[14:01] {Threei} beige book
[14:01] {nemo} then, if the trade goes your way, you'll be pissed at yourself, which may further augment being on tilt
[14:02] {nemo} So smaller helps keep the fuel off the emotional responses to trades
[14:02] {nemo} imo
01[14:02] {Threei} smakkish shares
01[14:02] {Threei} Long Setup: NFLX .50 break
01[14:03] {Threei} If holds .35
[14:04] {goryl} nemo, right now i'm trading purely with Vad so i take profit and stops accordingly, not too much emotion:)
[14:05] {nemo} great...you might find yourself freelancing within after a few stops
01[14:12] {Threei} watching EBAY for possible pullback entry
01[14:12] {Threei} near .40
[14:21] {nemo} if the bottom drops out lly could be short
01[14:26] {Threei} EBAY followed the scenario but entry was not really clear
[14:26] {goryl} thanks for the education, see u all tomorrow
[14:27] {goryl} gotta learn how to crawl before I can walk nemo:) so it'll take some time before i can pull the trigger on my own but I have no doubts about the system...
01[14:29] {Threei} take care goryl
[14:31] {dino} fio l .25
[14:32] {nemo} vwap run dino?
[14:33] {dino} yes
[14:35] {nemo} gonna' need tweezers for the rest of this belly button lint
[14:37] {nemo} shorting lly .12
[14:38] {nemo} stop above .20\
[14:40] {nemo} great frickin' hidden buyer at .12
[14:40] {scottie} how do you see that nemo?
[14:41] {nemo} well, you can see the bids, then I watched how many transactions actually went buy at that price
[14:41] {nemo} went by
01[14:41] {Threei} prints exceeding shown orders
[14:41] {scottie} I see
[14:41] {nemo} o.k. Mr. English expert
01[14:42] {Threei} you see 100 shares, 100K shares cross the tape
[14:42] {nemo} I feel a BOHICA moment coming
[14:42] {nemo} yep...pressure on my ankles building
01[14:46] {Threei} Short Setup: LLY .10 break
[14:46] {nemo} oh, coming to my party?
01[14:46] {Threei} Short Setup: LLY .10 brea per nemo suggestion
[14:47] {scottie} lol
01[14:47] {Threei} Attention: LLY trade outcome is nemo's fault
[14:48] {nemo} yeah, well, watch spy and IWM volume here...you see 2mil spy in 2 minutes, I suggest baling
[14:49] {nemo} Les is like having an "otherly" abled child
[14:49] {nemo} to be politically correct
[14:49] {nemo} Frankly, I like the Spartan protocol on otherly abled children
[14:50] {nemo} Frankly, I think I like the Spartan protocol on otherly abled children for all children
01[14:54] {Threei} something is very unusual happening
01[14:55] {Threei} normally market is quite determined in October
[14:55] {nemo} You paraphrasing Stephen Stills?
[14:55] {nemo} yeah, it's like August
01[14:55] {Threei} gone are August rekaxation and September hesitation
01[14:55] {Threei} nope... it's not august
[14:55] {Will49} so I shouldn't cut my throat yet?
01[14:55] {Threei} august is relaxed and indifferent
01[14:55] {Threei} this is different
[14:55] {nemo} no, go ahead Will
01[14:55] {Threei} this is tense and fearful
01[14:56] {Threei} lol
01[14:56] {Threei} and bipolar
[14:56] {Will49} yes....i'm tense and fearful
[14:56] {nemo} paxil
[14:56] {Will49} not really....just trying to bond with nemo
[14:57] {nemo} PLEASE...cut your throat
[14:57] {Will49} :D
[14:57] {Will49} anytime I can get upper case out of you, it's a victory
[14:58] {scottie} lol
[14:58] {robbers} lol
[14:58] {nemo} yeah...until I knock on your front door
[14:58] {Will49} you fell into my trap nemo
01[15:01] {Threei} hehe
01[15:02] {Threei} I don't know if knocking on his door is such a good idea, nemo... I have suspicion he got it wired
[15:02] {robbers} Plus he has a killer bunny.
[15:02] {Will49} after today...yes
01[15:02] {Threei} he did click something before opening it
[15:02] {nemo} fine..I'm very high probability at 700 yards
[15:03] {Will49} be afwaid, be very afwaid
01[15:03] {Threei} on another side... there is a high chance that seeing our beautiful landscapes you might turn into kinder gentlier nemo
[15:03] {nemo} sheesh
[15:05] {Will49} anybdy who lives alone with a rabbit and is obsessed with gripping his ankles....I don't know!
[15:05] {nemo} I wish I lived alone....
[15:05] {Will49} sounds like it
[15:06] {nemo} I have my high school senior nephew know it all, and my elderly father.....and of course, bunny
[15:06] {nemo} she's so cuuuuuuttttteeeeee
[15:07] {nemo} She's gracing me with her prescence now looking for treats
[15:08] {nemo} Hey, Vad...that cat ever come to visit anymore?
01[15:08] {Threei} no...
[15:08] {nemo} bummer
[15:08] {Will49} there he goes again
[15:08] {nemo} mmmhhhh magoo rash
[15:11] {Will49} what kind of expletive is that?
[15:16] {thomcbell} talk tomorrow guys - have to run
01[15:17] {Threei} take care tbell
01[15:17] {Threei} Short Setup: POT .50 break
[15:27] {dino} csgp sm l .68 ave
[15:42] {nemo} oy, back to the rorschach tests, huh?
[15:48] {dino} why not
[15:48] {nemo} yep
01[15:52] {Threei} time's running out
01[15:52] {Threei} POT saved by the bell
01[15:53] {Threei} OK guys, thank you all
01[15:53] {Threei} have a good evening, see you tomorrow
[15:53] {robbers} you, too, gn.
[15:54] {scottie} gn all
[15:54] {Will49} see ya
