Also, article is out: http://blog.realitytrader.com/2012/10/unbearable-boredom-of-trading.html
Session Time: Wed Oct 17 00:00:00 2012
[08:57] {cipher} gm
01[08:57] {Threei} cipher :)
[08:57] {goryl} gm
01[08:57] {Threei} goryl :)
[09:08] {dino} gm
01[09:08] {Threei} dino :)
[09:13] {scottie} good morning
[09:16] {Will49} gm
[09:18] {Beau} good morning all
01[09:19] {Threei} scottie, will, beau :)
01[09:20] {Threei} (EU) EU leaders summit draft document says ECB should be able to carry out direct supervision
01[09:20] {Threei} Spanish 10 year dropped to 5.5%
01[09:20] {Threei} lowest in 8 months
01[09:21] {Threei} MOS looks all red
01[09:22] {Threei} POT sympathy
01[09:22] {Threei} Potash Corp. Cuts FY12 EPS to be below the low end of $2.80-3.20 v $3.34e; Guides Q3 below low end of $0.70-0.90 v $0.83e- The change primarily reflects lower than forecasted potash sales volumes due to delays in new contracts with buyers in China and Indi
[09:24] {ese} morning........in for a little bit but can't hang .........early parent meetings this morning re tours
01[09:24] {Threei} ese :)
01[09:26] {Threei} C continues uptrend
[09:26] {ese} IBM...didn't miss.......it's hangin in there
[09:30] {ese} some people not happy with it though
01[09:30] {Threei} Short Setup: POT 41 break
01[09:30] {Threei} If holds .10
[09:31] {goryl} not shortable
01[09:31] {Threei} yeah
01[09:31] {Threei} 1:1 who got it
01[09:31] {Threei} 1:2
01[09:31] {Threei} etc
01[09:32] {Threei} Short Setup: MOS .10 break hl
[09:32] {ese} well well well...............
01[09:33] {Threei} Invalidated
[09:33] {ese} Les or the call
01[09:33] {Threei} Short Setup: C .90 break
01[09:34] {Threei} If holds 38
01[09:35] {Threei} stop to .96
01[09:36] {Threei} 1:1
01[09:36] {Threei} Long Setup: FCX .55 break
01[09:37] {Threei} ugh, late
01[09:37] {Threei} grr
01[09:39] {Threei} Long Setup: SLW .75 break
[09:39] {nemo} arna
01[09:39] {Threei} If holds .65
01[09:41] {Threei} no go
01[09:41] {Threei} Long Setup: FCX .60 break
01[09:41] {Threei} If holds .50
01[09:42] {Threei} 1:1
[09:42] {ese} in
[09:43] {ese} stop to break even .61
[09:43] {ese} spyders rising so am hangin in
[09:44] {nemo} here we go a stop hunting
[09:44] {nemo} sung to Here we go a wassailing
[09:44] {ese} 1/2 ;76
[09:44] {nemo} Wow...not even Halloween yet
[09:44] {ese} +.14
[09:44] {cipher} aapl s .74
01[09:44] {Threei} 1:2
[09:44] {ese} sorry +.15
[09:45] {nemo} MPP on iwm is 83.62 likely target
01[09:45] {Threei} Short Setup: LVS .80 break hl
01[09:45] {Threei} If holds .90
[09:45] {ese} stopped balance .61
[09:46] {ese} was worth a shot
[09:46] {cipher} cov .00 +.74
[09:46] {ese} done......tks vad.........cya tomorrow
[09:47] {ese} meeting
01[09:47] {Threei} take care ese
01[09:48] {Threei} LVS target 1:2
[09:48] {nemo} ya' know what's great about school being back in session?
01[09:49] {Threei} speed limit in school zones?
[09:49] {nemo} No....
[09:49] {nemo} Ese has to leave early
01[09:49] {Threei} didn't think so either
01[09:50] {Threei} hmmm
01[09:50] {Threei} let's trail LVS to .86
[09:50] {nemo} stop hunt under way
01[09:50] {Threei} don't like this market spike while we are short
[09:50] {nemo} they have to get it above 146 to see if there's any free money
01[09:51] {Threei} rinse
01[09:51] {Threei} ditry rotten scondrel
[09:52] {nemo} oh...so who "won" the debates last night
01[09:52] {Threei} candy crowley
[09:55] {cipher} aapl l .23
01[09:56] {Threei} Long Setup: IBM .80 break smallish shares
01[09:56] {Threei} ugh, late
[09:56] {nemo} now we'll find out if there's any juice left in this run
[09:56] {cipher} out .50 +1.27
01[09:57] {Threei} crap... good one got away
01[09:58] {Threei} Long Setup: CAT .45 break
01[09:58] {Threei} If holds .35
01[09:59] {Threei} target 1:2
01[10:02] {Threei} stop to .38
01[10:02] {Threei} 1 cent shy of 1:1
[10:02] {nemo} financials and iwm on highs spy should go
[10:02] {nemo} cat
[10:02] {nemo} sorry
01[10:02] {Threei} 1:1
01[10:04] {Threei} 1:2, out
[10:04] {scottie} out +.20 tks Vad
[10:04] {cipher} AAPL S.90
[10:04] {Will49} tks Vad + .19
01[10:05] {Threei} yw
[10:05] {cipher} out appl +.15
[10:07] {cipher} aapl s .61
01[10:07] {Threei} Short Setup: IBM .90 break small shares
01[10:08] {Threei} .05 stop
[10:08] {nemo} IWM and financials already at R3
01[10:09] {Threei} no go
[10:10] {cipher} cov apl -.39
01[10:10] {Threei} Short Setup: JPM .30 break
01[10:11] {Threei} stop .38
[10:12] {cipher} aapl s .65
[10:13] {thomcbell} holy shit fcx what a move
[10:14] {thomcbell} language sorry
[10:14] {nemo} cipher, Qs likely moving to the 50 day, means aapl has to also which would put at at 665
01[10:14] {Threei} Short Setup: C .80 break
01[10:14] {Threei} grr
01[10:14] {Threei} that was 38
01[10:15] {Threei} sorry, mistype
[10:15] {cipher} cov aapl .40 +.25
01[10:15] {Threei} great, C works
01[10:16] {Threei} clean double top
[10:16] {cipher} cat s .90
[10:17] {cipher} out 1/2 +.10
[10:18] {cipher} out 1/4 more +.15
01[10:23] {Threei} Short Setup: FCX .15 break
01[10:23] {Threei} If holds .20
01[10:28] {Threei} Long Setup: RCL .30 break
01[10:29] {Threei} If holds .20
[10:29] {nemo} I'm going short
[10:30] {nemo} target .00
[10:30] {cipher} aapl s .69
[10:33] {nemo} spxu .66
[10:33] {nemo} long
[10:33] {scottie} fcx +.10 tks Vad
[10:33] {nemo} stop .59
01[10:33] {Threei} yw
[10:33] {nemo} rcl
[10:33] {nemo} sorry
[10:34] {scottie} didn't want to go out in full, made a mistake
[10:34] {scottie} rcl valid ?
01[10:35] {Threei} yes
[10:35] {cipher} cov fcx .01 thx
01[10:35] {Threei} :)
[10:36] {cipher} cov aapl .40 +1.29
01[10:36] {Threei} wtg
[10:38] {nemo} out spxu here, think db on 146 time for ursine sodomy
[10:39] {nemo} out rcl too
[10:41] {scottie} could only get 100 shares rcl
01[10:41] {Threei} 1:1
[10:41] {nemo} raise your bid a penny or two
[10:49] {scottie} out .42 +.10, good trade Vad, just couldn't get enough shares
[10:50] {nemo} poor bears...quiet flatulence
01[10:50] {Threei} lol
01[10:50] {Threei} nemo is so graphic
[10:50] {nemo} yes, but subtlely so
[10:55] {nemo} whoa abt
[10:57] {cipher} wow nice moves abt
01[10:58] {Threei} Long Setup: FCX .20 break
[11:00] {cipher} l abt .64
[11:00] {cipher} out .85
01[11:00] {Threei} too soon
[11:00] {cipher} y
[11:00] {cipher} as usually
[11:02] {cipher} looks like hft action very unpredictable
01[11:03] {Threei} I don't think HFT is anywhere near this stock
[11:03] {cipher} why the big sizes being flashed then?
01[11:05] {Threei} there is no full correlation between those and HFT
01[11:06] {Threei} this trick exists for ages
[11:06] {nemo} HFT doesn't use big size as a rule
[11:06] {nemo} they flutter in thousands of orders in the blink of an eye to create the illusion of depth
01[11:07] {Threei} showing big sizes to influence traders, I see this for as long as Level 2 became accessible for retails traders
[11:07] {nemo} rock tree fire
01[11:07] {Threei} look description of Level 2 strategies in scalping videocourse, written before HFT times
01[11:08] {Threei} it's described in there
[11:08] {nemo} the surest sign of hft is the 3+ decimal places and when your bids and offers flicker
[11:08] {nemo} then again, that could just be alcohol
[11:10] {nemo} might want to look for a MON bounce, floor is likely 88.82ish
[11:10] {cipher} I always wondered...who is allowed to trade in 3+ dec places
[11:10] {nemo} not us
[11:10] {cipher} if only MM then that is bs
[11:10] {nemo} no, you have to be a machine
[11:11] {nemo} l .12 MON
[11:11] {nemo} stop under the whole
[11:11] {cipher} how do I get a licence to be a machine then?
[11:11] {cipher} where do I need to apply?
[11:11] {cipher} SEC?
[11:11] {cipher} lol
[11:11] {nemo} yeah, bring knee pads and mouthwash
[11:11] {cipher} :)
[11:12] {nemo} partialing .30
[11:13] {cipher} nice one nemo
[11:13] {nemo} offering .46
[11:13] {nemo} o.k. I'll take that
[11:14] {nemo} yeah, 50 day moving average was at .82 so either bounce at the whole or between the whole and .82
[11:15] {nemo} figure it tests this area needs to hold .55ish
[11:15] {nemo} looking for .90ish
[11:16] {cipher} ibm l .85
[11:16] {nemo} GMCR
[11:18] {nemo} out MON
01[11:18] {Threei} 1:1
[11:19] {scottie} +.10 tks Vad
[11:20] {cipher} out ibm .89 +.04
[11:21] {Will49} Tks Vad +.09
01[11:22] {Threei} yw
[11:23] {nemo} Hey Vad, we had an earthquake yesterday
01[11:24] {Threei} big?
[11:24] {nemo} not particularly 4.6 but I felt the house shake
[11:26] {Will49} that's all part of the drying out process
01[11:26] {Threei} as in sobering out?
[11:27] {Will49} you not house
[11:27] {Will49} use to be called DTs
[11:28] {Will49} nemo refers to them as earthquakes
[11:28] {nemo} Will49...I never allow sobriety to persist
[11:28] {Will49} I have faith in you
[11:29] {nemo} so doesn't the liquor store owner
[11:29] {Will49} :)
[11:32] {scottie} bro l .30 if holds .25 ?
[11:33] {scottie} in .32
[11:35] {nemo} mos likely going to .80 area
[11:36] {nemo} looks like machine buying
[11:36] {Will49} don't get Vad started again nemo
[11:37] {nemo} that's not voodoo will, look how perfect the pattern very little euphoria, a couple of stop tests
[11:39] {Will49} see your point..it's just that Vad sees red when HFT is mentioned:)
[11:40] {nemo} I said machine buying, not HFT
[11:40] {nemo} algo does not equal HFT
[11:40] {Will49} oohhh...don' they use machines in hft?
[11:41] {nemo} Somebody has a huge order to execute...orderly execution as opposed to human execution...watch for volume to come in around lunchtime, it might then be a short
[11:41] {Will49} tks
[11:42] {nemo} HFT is machine trading, but it's not the only kind
[11:43] {Will49} gotcha
01[11:43] {Threei} correction will:
[11:43] {nemo} Like Dino...he's not a real person
[11:43] {nemo} He's a machine somebody flips on in the morning
01[11:43] {Threei} I hate using HFT as an excuse for bad trading
[11:44] {nemo} yep
[11:44] {scottie} Pardon my ignorance, what is HFT ?
01[11:44] {Threei} high frequency trading
[11:44] {scottie} tks
01[11:44] {Threei} latest boogeyman
06[11:44] * nemo slaps scottie with a rusty nail-laden 2x4 coated with ricin
[11:45] {nemo} guess that was a bit over the top
[11:45] {scottie} Makes me fell good, thanks nemo
[11:45] {nemo} It won't for long
[11:45] {Will49} the ricin particularly
[11:45] {nemo} Yeah, don't take much...but takes awhile ;-)
01[11:50] {Threei} (ES) Spain Econ Min Official: Maximum size of Spanish bad bank will be �90B, expected size of the facility will be much smaller- Bad bank could be widened to take more than just real estate assets to absorb non-performing consumer loans.
01[11:50] {Threei} 300B then... got it
01[11:56] {Threei} FCX just won't quit
[12:01] {nemo} wlt .26 stop under .20
[12:03] {nemo} mos interesting here
[12:04] {nemo} shorting mos
[12:04] {nemo} stop above high
[12:04] {scottie} half out bro
01[12:05] {Threei} good one
[12:05] {scottie} stop .34
[12:05] {scottie} ty
[12:05] {nemo} out
[12:07] {nemo} partialling wlt
[12:10] {nemo} taking more off .53
[12:11] {Beau} nemo how do you get one like wlt? sat at .25 then bang, to .28 then .32. had .27 ready but over it before could click.
[12:11] {nemo} set your bid .02 above current best bid
[12:13] {dino} you could also use buy stops
[12:14] {nemo} offering .68 for last piece stop under .50
[12:14] {dino} gj
[12:14] {nemo} ty
[12:15] {nemo} hig of .675
[12:15] {nemo} high
[12:15] {nemo} wtf
[12:15] {nemo} of course, in a dark pool
[12:16] {nemo} nflx breaking resistance
[12:16] {nemo} jcp wtf
[12:18] {nemo} stop to .55ish
[12:23] {nemo} guess I should held that last piece of wlt
[12:25] {scottie} bro out +.18
01[12:25] {Threei} wtg
[12:25] {scottie} ty :)
01[12:28] {Threei} sneak preview:
01[12:28] {Threei} http://blog.realitytrader.com/2012/10/unbearable-boredom-of-trading.html
[12:29] {dino} asml hl l .00, stop break lod
01[12:29] {Threei} read and and if you have any comments of grammar/spelling corrections, speak now or forever keep your mouth shut
01[12:30] {Threei} Short Setup: FCX .60 break
01[12:31] {Threei} stop .66
01[12:34] {Threei} cover half here
01[12:34] {Threei} stop to .61
[12:34] {thomcbell} bhp amazingly firm
01[12:37] {Threei} 1/4 more out
01[12:39] {Threei} out in full
01[12:39] {Threei} very boring trade
[12:39] {thomcbell} nice one Vad
[12:39] {thomcbell} !
01[12:40] {Threei} :)
01[12:42] {Threei} any comments on the article, before I unleash it on the world??
[12:43] {Beau} well written and instructive. good
01[12:43] {Threei} ty
01[12:44] {Threei} visual for FCX: http://goo.gl/ZKxJu
[12:48] {thomcbell} so on fcx you waited for it to break support and then pierce back above for the entry
01[12:49] {Threei} more like missed first break, and luckily got conservative entry on it
[12:50] {thomcbell} long setup fcx 42.40 break if holding 42.30 Vad?
01[12:50] {Threei} yup
01[12:50] {Threei} clean reversal setup
[12:51] {thomcbell} target is 1:2
[13:01] {thomcbell} i got the 0.75 break but not meaningfully
[13:03] {thomcbell} long setup jwn 57.69 break if holding 57.60
01[13:24] {Threei} e-mail, one of those that make your day
01[13:24] {Threei} Vad
01[13:24] {Threei} I had to write and thank you for your efforts in educating those who choose to listen.
01[13:24] {Threei} I have followed you for some time now, I have your book "Techniques Of Tape Reading"
01[13:24] {Threei} and have just recently purchased "111 Trades".
01[13:24] {Threei} And I must say the major problem I have been experiencing is confidence, lack of,
01[13:24] {Threei} in my efforts to tame this beast.
01[13:24] {Threei} I am about thru the reading portion of "111 Trades" and the first video of the course.
01[13:24] {Threei} And I must say what an eye opener that I have had thus far.
01[13:24] {Threei} followed by a few examples of recent trades
[13:35] {scottie} Vad, just got back. I read your article. So true, and definitely something you don't expect when you start.
01[13:35] {Threei} I know
01[13:36] {Threei} everyone wants to trade the hottest stock of the day
[13:36] {Will49} amen to that!
01[13:36] {Threei} irresistible lurem almost like a siren song
[13:39] {scottie} tibx s .75 stop .85?
[13:39] {Will49} tibx
[13:39] {Will49} oops sorry
[13:39] {nemo} ok here's the stest of the whole number
01[13:40] {Threei} probably two-sided, scottie
[13:42] {scottie} too fast on the button, in .75
01[13:43] {Threei} with that strong bid at .74, I'd prefer to wait and see if it's getting hit
[13:55] {thomcbell} short small dg
[14:00] {thomcbell} covering half dg 47.65
[14:01] {thomcbell} flat dg
[14:02] {thomcbell} this C is pretty impressive
[14:03] {nemo} look for cree bounce here
[14:03] {nemo} done 6.3 million shares and it sits
01[14:05] {Threei} New Gallup poll, likely voters: Romney 51, Obama 46
[14:05] {nemo} it's all a tossup
[14:05] {nemo} edge to the incumbent
01[14:05] {Threei} let's defenestrate nemo
[14:05] {nemo} I don't have to at the moment
[14:06] {thomcbell} i felt Barry killed him last night
01[14:06] {Threei} I dunno... he simply didn't fail as badly as last time, that's all
01[14:07] {Threei} pretty much a draw
01[14:07] {Threei} whether it can stop bleeding is a big question
[14:07] {Will49} victory or defeat is in the mind of the observer =bias
[14:08] {nemo} yeah....merely a flesh wound...we'll call it a draw
[14:08] {Beau} wonder if we will ever return to substance over style in most things
01[14:08] {Threei} you mean, go back to watch Idol?
[14:08] {nemo} no, because more than 50% of the people are organically limited to being morons
01[14:08] {Threei} {G}
[14:08] {nemo} was that harsh?
[14:08] {Will49} imho...undecideds (4%) will likely lean to incumbent
[14:08] {nemo} nobody picked up on my quote
[14:08] {Beau} naw, leave to beaver
[14:09] {nemo} first dirty words said on TV
01[14:09] {Threei} no, it was underestimate, nemo
[14:09] {nemo} no, the "flesh wound" one
01[14:09] {Threei} will, I can't imagine any sane one still being undecided at this point... IMO, those who say they are simply crave for attention
01[14:10] {Threei} and in fact their minds are made up
01[14:10] {Threei} it's all ground game at this point - get your vote out
[14:11] {Will49} true dat Vad
[14:12] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[14:12] {dino} this mont is worse than august
[14:13] {dino} month
[14:14] {scottie} cvs l .50 ?
[14:17] {dino} asml hl l .5-
[14:17] {dino} .50
[14:18] {scottie} in cvs .51
[14:18] {scottie} stop below .45
01[14:18] {Threei} yeah
01[14:19] {Threei} TIBX dinally starts working
[14:30] {scottie} half out cvs
[14:36] {scottie} tibx stop .83
[14:36] {scottie} cvs stop .54
01[14:37] {Threei} I'd even trail TIBX to .81 at this point
01[14:37] {Threei} it spent enough time under .80 to make it valid resistance
[14:37] {scottie} ok
[14:47] {nemo} hey cipher appl looks short
[14:48] {scottie} Most difficult thing to remenber is to keep breathing during pullbacks
[14:49] {Will49} aren't you supposed to HOLD your breath during pullbacks?
[14:49] {scottie} I tried that until I got blue
[14:49] {Will49} :)
01[14:50] {Threei} my problem is different... sometimes I forget to breathe...
[14:50] {Will49} lol
[14:50] {nemo} you get it Cipehr?
[14:50] {Will49} sleep apnea
[14:52] {dino} asml to .99
[14:54] {cipher} sorry nemo, I stepped out
[14:55] {cipher} didn't get it
[14:55] {dino} asml to .10
[14:58] {dino} out asml .20, +.70
[14:59] {scottie} gj dino
[14:59] {dino} thx
[15:01] {scottie} trailing cvs stop to .59
[15:07] {Will49} go CVS
[15:09] {nemo} spy 146.75 anybody
[15:10] {nemo} look at spy setup on 15 minute
06[15:14] * Threei kicks CVS in the rear
06[15:14] * Threei hits TIBX over the head with 2x4
[15:14] {scottie} might work!
06[15:15] * Threei in a hat tip to nemo hits a rusty nail-laden 2x4 coated with ricin
[15:16] {dino} nemo, asml going to hit vwap?
[15:17] {nemo} mmmhhh...this week was probably the start of the next big up leg into the first of the year
[15:19] {nemo} http://www.advancedtrading.com/eladian-closure-an-ominous-sign-for-high/240009257/
[15:20] {nemo} knew they would start feeding on each other
[15:20] {scottie} out cvs +.19
01[15:21] {Threei} wtg
[15:21] {dino} gj
[15:21] {scottie} tks
[15:21] {Will49} tks scottie +.21
[15:22] {scottie} yw
[15:24] {nemo} another day closing near the highs, probably means gap up tomorrow and try for the stops above 147
01[15:34] {Threei} http://www.nbcnewyork.com/news/local/Federal-Reserve-Bank-Plot-NYC-Terror--174628031.html
[15:35] {scottie} out tibx flat
[15:36] {thomcbell} http://o.aolcdn.com/hss/storage/fss/918a2ea9517d8d9e00de279e3c4149c7/enhanced-buzz-11336-1266615441-7.jpg
[15:37] {scottie} can't tell them apart lol
[15:43] {dino} calling it a day, thx all
[15:43] {scottie} dino
01[15:43] {Threei} me too
[15:44] {thomcbell} daily gm chart setting up very nicely for another big upleg
01[15:44] {Threei} thank you all, have a great evening
01[15:44] {Threei} see you tomorrow
[15:44] {Will49} see yo guys
[15:44] {scottie} gn all tks Vad
Session Time: Wed Oct 17 00:00:00 2012
[08:57] {cipher} gm
01[08:57] {Threei} cipher :)
[08:57] {goryl} gm
01[08:57] {Threei} goryl :)
[09:08] {dino} gm
01[09:08] {Threei} dino :)
[09:13] {scottie} good morning
[09:16] {Will49} gm
[09:18] {Beau} good morning all
01[09:19] {Threei} scottie, will, beau :)
01[09:20] {Threei} (EU) EU leaders summit draft document says ECB should be able to carry out direct supervision
01[09:20] {Threei} Spanish 10 year dropped to 5.5%
01[09:20] {Threei} lowest in 8 months
01[09:21] {Threei} MOS looks all red
01[09:22] {Threei} POT sympathy
01[09:22] {Threei} Potash Corp. Cuts FY12 EPS to be below the low end of $2.80-3.20 v $3.34e; Guides Q3 below low end of $0.70-0.90 v $0.83e- The change primarily reflects lower than forecasted potash sales volumes due to delays in new contracts with buyers in China and Indi
[09:24] {ese} morning........in for a little bit but can't hang .........early parent meetings this morning re tours
01[09:24] {Threei} ese :)
01[09:26] {Threei} C continues uptrend
[09:26] {ese} IBM...didn't miss.......it's hangin in there
[09:30] {ese} some people not happy with it though
01[09:30] {Threei} Short Setup: POT 41 break
01[09:30] {Threei} If holds .10
[09:31] {goryl} not shortable
01[09:31] {Threei} yeah
01[09:31] {Threei} 1:1 who got it
01[09:31] {Threei} 1:2
01[09:31] {Threei} etc
01[09:32] {Threei} Short Setup: MOS .10 break hl
[09:32] {ese} well well well...............
01[09:33] {Threei} Invalidated
[09:33] {ese} Les or the call
01[09:33] {Threei} Short Setup: C .90 break
01[09:34] {Threei} If holds 38
01[09:35] {Threei} stop to .96
01[09:36] {Threei} 1:1
01[09:36] {Threei} Long Setup: FCX .55 break
01[09:37] {Threei} ugh, late
01[09:37] {Threei} grr
01[09:39] {Threei} Long Setup: SLW .75 break
[09:39] {nemo} arna
01[09:39] {Threei} If holds .65
01[09:41] {Threei} no go
01[09:41] {Threei} Long Setup: FCX .60 break
01[09:41] {Threei} If holds .50
01[09:42] {Threei} 1:1
[09:42] {ese} in
[09:43] {ese} stop to break even .61
[09:43] {ese} spyders rising so am hangin in
[09:44] {nemo} here we go a stop hunting
[09:44] {nemo} sung to Here we go a wassailing
[09:44] {ese} 1/2 ;76
[09:44] {nemo} Wow...not even Halloween yet
[09:44] {ese} +.14
[09:44] {cipher} aapl s .74
01[09:44] {Threei} 1:2
[09:44] {ese} sorry +.15
[09:45] {nemo} MPP on iwm is 83.62 likely target
01[09:45] {Threei} Short Setup: LVS .80 break hl
01[09:45] {Threei} If holds .90
[09:45] {ese} stopped balance .61
[09:46] {ese} was worth a shot
[09:46] {cipher} cov .00 +.74
[09:46] {ese} done......tks vad.........cya tomorrow
[09:47] {ese} meeting
01[09:47] {Threei} take care ese
01[09:48] {Threei} LVS target 1:2
[09:48] {nemo} ya' know what's great about school being back in session?
01[09:49] {Threei} speed limit in school zones?
[09:49] {nemo} No....
[09:49] {nemo} Ese has to leave early
01[09:49] {Threei} didn't think so either
01[09:50] {Threei} hmmm
01[09:50] {Threei} let's trail LVS to .86
[09:50] {nemo} stop hunt under way
01[09:50] {Threei} don't like this market spike while we are short
[09:50] {nemo} they have to get it above 146 to see if there's any free money
01[09:51] {Threei} rinse
01[09:51] {Threei} ditry rotten scondrel
[09:52] {nemo} oh...so who "won" the debates last night
01[09:52] {Threei} candy crowley
[09:55] {cipher} aapl l .23
01[09:56] {Threei} Long Setup: IBM .80 break smallish shares
01[09:56] {Threei} ugh, late
[09:56] {nemo} now we'll find out if there's any juice left in this run
[09:56] {cipher} out .50 +1.27
01[09:57] {Threei} crap... good one got away
01[09:58] {Threei} Long Setup: CAT .45 break
01[09:58] {Threei} If holds .35
01[09:59] {Threei} target 1:2
01[10:02] {Threei} stop to .38
01[10:02] {Threei} 1 cent shy of 1:1
[10:02] {nemo} financials and iwm on highs spy should go
[10:02] {nemo} cat
[10:02] {nemo} sorry
01[10:02] {Threei} 1:1
01[10:04] {Threei} 1:2, out
[10:04] {scottie} out +.20 tks Vad
[10:04] {cipher} AAPL S.90
[10:04] {Will49} tks Vad + .19
01[10:05] {Threei} yw
[10:05] {cipher} out appl +.15
[10:07] {cipher} aapl s .61
01[10:07] {Threei} Short Setup: IBM .90 break small shares
01[10:08] {Threei} .05 stop
[10:08] {nemo} IWM and financials already at R3
01[10:09] {Threei} no go
[10:10] {cipher} cov apl -.39
01[10:10] {Threei} Short Setup: JPM .30 break
01[10:11] {Threei} stop .38
[10:12] {cipher} aapl s .65
[10:13] {thomcbell} holy shit fcx what a move
[10:14] {thomcbell} language sorry
[10:14] {nemo} cipher, Qs likely moving to the 50 day, means aapl has to also which would put at at 665
01[10:14] {Threei} Short Setup: C .80 break
01[10:14] {Threei} grr
01[10:14] {Threei} that was 38
01[10:15] {Threei} sorry, mistype
[10:15] {cipher} cov aapl .40 +.25
01[10:15] {Threei} great, C works
01[10:16] {Threei} clean double top
[10:16] {cipher} cat s .90
[10:17] {cipher} out 1/2 +.10
[10:18] {cipher} out 1/4 more +.15
01[10:23] {Threei} Short Setup: FCX .15 break
01[10:23] {Threei} If holds .20
01[10:28] {Threei} Long Setup: RCL .30 break
01[10:29] {Threei} If holds .20
[10:29] {nemo} I'm going short
[10:30] {nemo} target .00
[10:30] {cipher} aapl s .69
[10:33] {nemo} spxu .66
[10:33] {nemo} long
[10:33] {scottie} fcx +.10 tks Vad
[10:33] {nemo} stop .59
01[10:33] {Threei} yw
[10:33] {nemo} rcl
[10:33] {nemo} sorry
[10:34] {scottie} didn't want to go out in full, made a mistake
[10:34] {scottie} rcl valid ?
01[10:35] {Threei} yes
[10:35] {cipher} cov fcx .01 thx
01[10:35] {Threei} :)
[10:36] {cipher} cov aapl .40 +1.29
01[10:36] {Threei} wtg
[10:38] {nemo} out spxu here, think db on 146 time for ursine sodomy
[10:39] {nemo} out rcl too
[10:41] {scottie} could only get 100 shares rcl
01[10:41] {Threei} 1:1
[10:41] {nemo} raise your bid a penny or two
[10:49] {scottie} out .42 +.10, good trade Vad, just couldn't get enough shares
[10:50] {nemo} poor bears...quiet flatulence
01[10:50] {Threei} lol
01[10:50] {Threei} nemo is so graphic
[10:50] {nemo} yes, but subtlely so
[10:55] {nemo} whoa abt
[10:57] {cipher} wow nice moves abt
01[10:58] {Threei} Long Setup: FCX .20 break
[11:00] {cipher} l abt .64
[11:00] {cipher} out .85
01[11:00] {Threei} too soon
[11:00] {cipher} y
[11:00] {cipher} as usually
[11:02] {cipher} looks like hft action very unpredictable
01[11:03] {Threei} I don't think HFT is anywhere near this stock
[11:03] {cipher} why the big sizes being flashed then?
01[11:05] {Threei} there is no full correlation between those and HFT
01[11:06] {Threei} this trick exists for ages
[11:06] {nemo} HFT doesn't use big size as a rule
[11:06] {nemo} they flutter in thousands of orders in the blink of an eye to create the illusion of depth
01[11:07] {Threei} showing big sizes to influence traders, I see this for as long as Level 2 became accessible for retails traders
[11:07] {nemo} rock tree fire
01[11:07] {Threei} look description of Level 2 strategies in scalping videocourse, written before HFT times
01[11:08] {Threei} it's described in there
[11:08] {nemo} the surest sign of hft is the 3+ decimal places and when your bids and offers flicker
[11:08] {nemo} then again, that could just be alcohol
[11:10] {nemo} might want to look for a MON bounce, floor is likely 88.82ish
[11:10] {cipher} I always wondered...who is allowed to trade in 3+ dec places
[11:10] {nemo} not us
[11:10] {cipher} if only MM then that is bs
[11:10] {nemo} no, you have to be a machine
[11:11] {nemo} l .12 MON
[11:11] {nemo} stop under the whole
[11:11] {cipher} how do I get a licence to be a machine then?
[11:11] {cipher} where do I need to apply?
[11:11] {cipher} SEC?
[11:11] {cipher} lol
[11:11] {nemo} yeah, bring knee pads and mouthwash
[11:11] {cipher} :)
[11:12] {nemo} partialing .30
[11:13] {cipher} nice one nemo
[11:13] {nemo} offering .46
[11:13] {nemo} o.k. I'll take that
[11:14] {nemo} yeah, 50 day moving average was at .82 so either bounce at the whole or between the whole and .82
[11:15] {nemo} figure it tests this area needs to hold .55ish
[11:15] {nemo} looking for .90ish
[11:16] {cipher} ibm l .85
[11:16] {nemo} GMCR
[11:18] {nemo} out MON
01[11:18] {Threei} 1:1
[11:19] {scottie} +.10 tks Vad
[11:20] {cipher} out ibm .89 +.04
[11:21] {Will49} Tks Vad +.09
01[11:22] {Threei} yw
[11:23] {nemo} Hey Vad, we had an earthquake yesterday
01[11:24] {Threei} big?
[11:24] {nemo} not particularly 4.6 but I felt the house shake
[11:26] {Will49} that's all part of the drying out process
01[11:26] {Threei} as in sobering out?
[11:27] {Will49} you not house
[11:27] {Will49} use to be called DTs
[11:28] {Will49} nemo refers to them as earthquakes
[11:28] {nemo} Will49...I never allow sobriety to persist
[11:28] {Will49} I have faith in you
[11:29] {nemo} so doesn't the liquor store owner
[11:29] {Will49} :)
[11:32] {scottie} bro l .30 if holds .25 ?
[11:33] {scottie} in .32
[11:35] {nemo} mos likely going to .80 area
[11:36] {nemo} looks like machine buying
[11:36] {Will49} don't get Vad started again nemo
[11:37] {nemo} that's not voodoo will, look how perfect the pattern very little euphoria, a couple of stop tests
[11:39] {Will49} see your point..it's just that Vad sees red when HFT is mentioned:)
[11:40] {nemo} I said machine buying, not HFT
[11:40] {nemo} algo does not equal HFT
[11:40] {Will49} oohhh...don' they use machines in hft?
[11:41] {nemo} Somebody has a huge order to execute...orderly execution as opposed to human execution...watch for volume to come in around lunchtime, it might then be a short
[11:41] {Will49} tks
[11:42] {nemo} HFT is machine trading, but it's not the only kind
[11:43] {Will49} gotcha
01[11:43] {Threei} correction will:
[11:43] {nemo} Like Dino...he's not a real person
[11:43] {nemo} He's a machine somebody flips on in the morning
01[11:43] {Threei} I hate using HFT as an excuse for bad trading
[11:44] {nemo} yep
[11:44] {scottie} Pardon my ignorance, what is HFT ?
01[11:44] {Threei} high frequency trading
[11:44] {scottie} tks
01[11:44] {Threei} latest boogeyman
06[11:44] * nemo slaps scottie with a rusty nail-laden 2x4 coated with ricin
[11:45] {nemo} guess that was a bit over the top
[11:45] {scottie} Makes me fell good, thanks nemo
[11:45] {nemo} It won't for long
[11:45] {Will49} the ricin particularly
[11:45] {nemo} Yeah, don't take much...but takes awhile ;-)
01[11:50] {Threei} (ES) Spain Econ Min Official: Maximum size of Spanish bad bank will be �90B, expected size of the facility will be much smaller- Bad bank could be widened to take more than just real estate assets to absorb non-performing consumer loans.
01[11:50] {Threei} 300B then... got it
01[11:56] {Threei} FCX just won't quit
[12:01] {nemo} wlt .26 stop under .20
[12:03] {nemo} mos interesting here
[12:04] {nemo} shorting mos
[12:04] {nemo} stop above high
[12:04] {scottie} half out bro
01[12:05] {Threei} good one
[12:05] {scottie} stop .34
[12:05] {scottie} ty
[12:05] {nemo} out
[12:07] {nemo} partialling wlt
[12:10] {nemo} taking more off .53
[12:11] {Beau} nemo how do you get one like wlt? sat at .25 then bang, to .28 then .32. had .27 ready but over it before could click.
[12:11] {nemo} set your bid .02 above current best bid
[12:13] {dino} you could also use buy stops
[12:14] {nemo} offering .68 for last piece stop under .50
[12:14] {dino} gj
[12:14] {nemo} ty
[12:15] {nemo} hig of .675
[12:15] {nemo} high
[12:15] {nemo} wtf
[12:15] {nemo} of course, in a dark pool
[12:16] {nemo} nflx breaking resistance
[12:16] {nemo} jcp wtf
[12:18] {nemo} stop to .55ish
[12:23] {nemo} guess I should held that last piece of wlt
[12:25] {scottie} bro out +.18
01[12:25] {Threei} wtg
[12:25] {scottie} ty :)
01[12:28] {Threei} sneak preview:
01[12:28] {Threei} http://blog.realitytrader.com/2012/10/unbearable-boredom-of-trading.html
[12:29] {dino} asml hl l .00, stop break lod
01[12:29] {Threei} read and and if you have any comments of grammar/spelling corrections, speak now or forever keep your mouth shut
01[12:30] {Threei} Short Setup: FCX .60 break
01[12:31] {Threei} stop .66
01[12:34] {Threei} cover half here
01[12:34] {Threei} stop to .61
[12:34] {thomcbell} bhp amazingly firm
01[12:37] {Threei} 1/4 more out
01[12:39] {Threei} out in full
01[12:39] {Threei} very boring trade
[12:39] {thomcbell} nice one Vad
[12:39] {thomcbell} !
01[12:40] {Threei} :)
01[12:42] {Threei} any comments on the article, before I unleash it on the world??
[12:43] {Beau} well written and instructive. good
01[12:43] {Threei} ty
01[12:44] {Threei} visual for FCX: http://goo.gl/ZKxJu
[12:48] {thomcbell} so on fcx you waited for it to break support and then pierce back above for the entry
01[12:49] {Threei} more like missed first break, and luckily got conservative entry on it
[12:50] {thomcbell} long setup fcx 42.40 break if holding 42.30 Vad?
01[12:50] {Threei} yup
01[12:50] {Threei} clean reversal setup
[12:51] {thomcbell} target is 1:2
[13:01] {thomcbell} i got the 0.75 break but not meaningfully
[13:03] {thomcbell} long setup jwn 57.69 break if holding 57.60
01[13:24] {Threei} e-mail, one of those that make your day
01[13:24] {Threei} Vad
01[13:24] {Threei} I had to write and thank you for your efforts in educating those who choose to listen.
01[13:24] {Threei} I have followed you for some time now, I have your book "Techniques Of Tape Reading"
01[13:24] {Threei} and have just recently purchased "111 Trades".
01[13:24] {Threei} And I must say the major problem I have been experiencing is confidence, lack of,
01[13:24] {Threei} in my efforts to tame this beast.
01[13:24] {Threei} I am about thru the reading portion of "111 Trades" and the first video of the course.
01[13:24] {Threei} And I must say what an eye opener that I have had thus far.
01[13:24] {Threei} followed by a few examples of recent trades
[13:35] {scottie} Vad, just got back. I read your article. So true, and definitely something you don't expect when you start.
01[13:35] {Threei} I know
01[13:36] {Threei} everyone wants to trade the hottest stock of the day
[13:36] {Will49} amen to that!
01[13:36] {Threei} irresistible lurem almost like a siren song
[13:39] {scottie} tibx s .75 stop .85?
[13:39] {Will49} tibx
[13:39] {Will49} oops sorry
[13:39] {nemo} ok here's the stest of the whole number
01[13:40] {Threei} probably two-sided, scottie
[13:42] {scottie} too fast on the button, in .75
01[13:43] {Threei} with that strong bid at .74, I'd prefer to wait and see if it's getting hit
[13:55] {thomcbell} short small dg
[14:00] {thomcbell} covering half dg 47.65
[14:01] {thomcbell} flat dg
[14:02] {thomcbell} this C is pretty impressive
[14:03] {nemo} look for cree bounce here
[14:03] {nemo} done 6.3 million shares and it sits
01[14:05] {Threei} New Gallup poll, likely voters: Romney 51, Obama 46
[14:05] {nemo} it's all a tossup
[14:05] {nemo} edge to the incumbent
01[14:05] {Threei} let's defenestrate nemo
[14:05] {nemo} I don't have to at the moment
[14:06] {thomcbell} i felt Barry killed him last night
01[14:06] {Threei} I dunno... he simply didn't fail as badly as last time, that's all
01[14:07] {Threei} pretty much a draw
01[14:07] {Threei} whether it can stop bleeding is a big question
[14:07] {Will49} victory or defeat is in the mind of the observer =bias
[14:08] {nemo} yeah....merely a flesh wound...we'll call it a draw
[14:08] {Beau} wonder if we will ever return to substance over style in most things
01[14:08] {Threei} you mean, go back to watch Idol?
[14:08] {nemo} no, because more than 50% of the people are organically limited to being morons
01[14:08] {Threei} {G}
[14:08] {nemo} was that harsh?
[14:08] {Will49} imho...undecideds (4%) will likely lean to incumbent
[14:08] {nemo} nobody picked up on my quote
[14:08] {Beau} naw, leave to beaver
[14:09] {nemo} first dirty words said on TV
01[14:09] {Threei} no, it was underestimate, nemo
[14:09] {nemo} no, the "flesh wound" one
01[14:09] {Threei} will, I can't imagine any sane one still being undecided at this point... IMO, those who say they are simply crave for attention
01[14:10] {Threei} and in fact their minds are made up
01[14:10] {Threei} it's all ground game at this point - get your vote out
[14:11] {Will49} true dat Vad
[14:12] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[14:12] {dino} this mont is worse than august
[14:13] {dino} month
[14:14] {scottie} cvs l .50 ?
[14:17] {dino} asml hl l .5-
[14:17] {dino} .50
[14:18] {scottie} in cvs .51
[14:18] {scottie} stop below .45
01[14:18] {Threei} yeah
01[14:19] {Threei} TIBX dinally starts working
[14:30] {scottie} half out cvs
[14:36] {scottie} tibx stop .83
[14:36] {scottie} cvs stop .54
01[14:37] {Threei} I'd even trail TIBX to .81 at this point
01[14:37] {Threei} it spent enough time under .80 to make it valid resistance
[14:37] {scottie} ok
[14:47] {nemo} hey cipher appl looks short
[14:48] {scottie} Most difficult thing to remenber is to keep breathing during pullbacks
[14:49] {Will49} aren't you supposed to HOLD your breath during pullbacks?
[14:49] {scottie} I tried that until I got blue
[14:49] {Will49} :)
01[14:50] {Threei} my problem is different... sometimes I forget to breathe...
[14:50] {Will49} lol
[14:50] {nemo} you get it Cipehr?
[14:50] {Will49} sleep apnea
[14:52] {dino} asml to .99
[14:54] {cipher} sorry nemo, I stepped out
[14:55] {cipher} didn't get it
[14:55] {dino} asml to .10
[14:58] {dino} out asml .20, +.70
[14:59] {scottie} gj dino
[14:59] {dino} thx
[15:01] {scottie} trailing cvs stop to .59
[15:07] {Will49} go CVS
[15:09] {nemo} spy 146.75 anybody
[15:10] {nemo} look at spy setup on 15 minute
06[15:14] * Threei kicks CVS in the rear
06[15:14] * Threei hits TIBX over the head with 2x4
[15:14] {scottie} might work!
06[15:15] * Threei in a hat tip to nemo hits a rusty nail-laden 2x4 coated with ricin
[15:16] {dino} nemo, asml going to hit vwap?
[15:17] {nemo} mmmhhh...this week was probably the start of the next big up leg into the first of the year
[15:19] {nemo} http://www.advancedtrading.com/eladian-closure-an-ominous-sign-for-high/240009257/
[15:20] {nemo} knew they would start feeding on each other
[15:20] {scottie} out cvs +.19
01[15:21] {Threei} wtg
[15:21] {dino} gj
[15:21] {scottie} tks
[15:21] {Will49} tks scottie +.21
[15:22] {scottie} yw
[15:24] {nemo} another day closing near the highs, probably means gap up tomorrow and try for the stops above 147
01[15:34] {Threei} http://www.nbcnewyork.com/news/local/Federal-Reserve-Bank-Plot-NYC-Terror--174628031.html
[15:35] {scottie} out tibx flat
[15:36] {thomcbell} http://o.aolcdn.com/hss/storage/fss/918a2ea9517d8d9e00de279e3c4149c7/enhanced-buzz-11336-1266615441-7.jpg
[15:37] {scottie} can't tell them apart lol
[15:43] {dino} calling it a day, thx all
[15:43] {scottie} dino
01[15:43] {Threei} me too
[15:44] {thomcbell} daily gm chart setting up very nicely for another big upleg
01[15:44] {Threei} thank you all, have a great evening
01[15:44] {Threei} see you tomorrow
[15:44] {Will49} see yo guys
[15:44] {scottie} gn all tks Vad
