Friday, April 26, 2013

Apr 26 2013

Interesting day that was all about trade management. Winners and losers were 50/50, but losers were 5-10 cents while winners were 1:3 and 1:2, thus allowing  to finish the day in the black. Not much but still. Somewhat strange moves in the market, with sudden rug pulls and spikes

Session Time: Fri Apr 26 00:00:00 2013
[08:02] {nemo} Get up you can sleep when you're dead...
[08:04] {thomcbell} Gm captain
[08:05] {nemo} I got demoted?
[08:10] {thomcbell} lol
[08:29] {nemo} well that closes the gap up from yesterday
[08:30] {nemo} 157.90 was yesterday's pivot at test of the whole, and the Weekly R1...strong level
[08:49] {patel} Good Morning
01[08:49] {Threei}  morning guys
01[08:50] {Threei}  why is nemo captain? I thought sarg
[08:51] {nemo} I refuse to be pigeon-holed
01[08:51] {Threei}  I bet it's because pigeons are mean
[08:54] {nemo} well,  they're buying amazon back up
[08:55] {stevw} g'mornin everybody
01[08:55] {Threei}  stec :)
01[08:55] {Threei}  c=v
[08:55] {nemo} you'd think Vad had five thumbs
01[08:56] {Threei}  shhhh... don't tell anyone it's 7
01[08:56] {Threei}  frikin Kryptonite genes...
[08:57] {stevw} i'm going to assume i should suppress the urge to make any chrenobyl jokes
[08:58] {nemo} try Chelabynsk, or perhaps Damansky Island jokes
[08:58] {stevw} ah, the Newfoundlanders of Russia
[08:58] {nemo} ?
[08:58] {stevw} Newfoundlanders are the butt of Canadian jokes
01[08:58] {Threei}  yeah, in Rusdia it's chukchi
01[08:59] {Threei}  Russia
[09:02] {stevw} reindeer chukchi or maritime chukchi?  (I'm just showing off that I know how to use Wiki)
01[09:03] {Threei}  both
01[09:03] {Threei}  no one bothered with such distinctions
[09:05] {stevw} to explain for non-Canadians, Newfoundlanders are essentially Irish - - which should suffice for explanation
[09:06] {nemo} I'm Irish, please explain
06[09:06] * nemo racks the slide
[09:07] {stevw} in that case, I'll just say thanks for the Guiness and we'll leave it that
01[09:07] {Threei}  hehe
01[09:07] {Threei}  Guiness, I am on board... but please keep that whiskey
[09:08] {stevw} actually, irish whiskey is gaining respect these days, even amongst scotch drinkers
01[09:09] {Threei}  ok... that wave hasn't reached me yet :)
[09:09] {jdetente} gm
01[09:09] {Threei}  jd :)
[09:10] {stevw} early signs for a down day on the markets, which should be good for me seeing as the up days sucked
[09:17] {nemo} I don't expect it to get out of hand though, they have to get this across the monthly finish line
[09:19] {Will49} gm
01[09:19] {Threei}  will :)
[09:19] {cipher} gm
01[09:20] {Threei}  cipher :)
01[09:21] {Threei}  not very active premarket
[09:22] {stevw} everything i've looked at so far is suggesting a flat open
[09:23] {Alexs} gm
01[09:23] {Threei}  alex :)
[09:27] {backman} gm
01[09:28] {Threei}  bman :)
[09:28] {dino} gm
01[09:29] {Threei}  dino :)
01[09:30] {Threei} Long Setup:  GDX  .75 break
01[09:30] {Threei}  If holds  .65 
01[09:32] {Threei}  Invalidated  
[09:33] {nemo} amzn getting smoked
01[09:33] {Threei} Short Setup: C  .20 break
01[09:34] {Threei}  If holds  .25 
01[09:34] {Threei}  GDX... was two-sided in retrospect
01[09:34] {Threei}  C 1:1
01[09:34] {Threei}  1:2
01[09:35] {Threei}  1:3, out
01[09:35] {Threei}  nice and easy
[09:35] {Will49} beauty
[09:35] {Les} yo what r we in?
[09:36] {jdetente} that was smooth and easy like a Cristopher Cross song. hehe
01[09:36] {Threei}  look at C bar and imagine being short fron .20, Les
01[09:36] {Threei}  lol jd
[09:36] {Les} spot on reversal gj
[09:37] {Les} RIG 51 looks interesting for short
01[09:38] {Threei} Short Setup: GDX  .40 break
[09:39] {Les} thinking like me wtg vad
[09:40] {jdetente} not a good sign Vad...not a good sign
01[09:41] {Threei}  to me thinking at all is not a good sign
[09:41] {Les} oops
[09:41] {Les} looking at chart in same manner then
[09:41] {jdetente} well if we have a stop here it will be because of "thinking" like Les. lol
01[09:41] {Threei}  there it is
[09:41] {dino} wdc sm l .50
[09:42] {Les} hehehe scapegoat accepted
01[09:43] {Threei} Short Setup: LVS  .40 break hl
01[09:43] {Threei}  If holds  .50 
[09:44] {nemo} gappy this morning
[09:45] {Les} managed to grab half shares of GDX as it dropped .50
01[09:46] {Threei}  no go
[09:46] {jdetente} another Les trade. meh
[09:47] {Les} Mushin jd mushin ain't looking for externalities
[09:47] {Les} RIG 51 long?
[09:48] {Les} forget it
[09:48] {dino} away sm l .20
[09:48] {dino} out wdc .90,+.40
01[09:49] {Threei} Short Setup: JCP  .20 break
01[09:50] {Threei}  change to .25 break
[09:50] {nemo} Soros might have to defend his position
[09:52] {dino} out away .60, +.40
[09:54] {Les} crap RIG 1:3
[09:54] {thomcbell} long setup aig 41.57 break
[09:55] {thomcbell} sorry late 
[09:57] {Les} slw short .25 holding .35
[09:57] {thomcbell} aig 1:1
[09:57] {thomcbell} target 1:3
01[09:58] {Threei}  lose that .20 already, JCP
01[10:02] {Threei} Short Setup: C  47 break
01[10:02] {Threei}  meh
[10:03] {Les} JCP's a squeezer I couldn't borrow
[10:04] {Les} slw partial cover at .15
01[10:04] {Threei}  stop .07
[10:05] {Les} higher time frames suggesting Slw and GDX wyckoff distribution potential today
[10:06] {nemo} you been wycking off too much lately, Les
[10:06] {Will49} LOL
[10:07] {Les} c covered .92
[10:07] {Les} ty
01[10:07] {Threei}  yw
01[10:07] {Threei}  1:1
[10:07] {Les} hehehe morning nemo
[10:08] {thomcbell} aig 1:1
[10:08] {Les} quartere cover .05 slw
[10:08] {thomcbell} jcp sure trades like a long 
[10:10] {thomcbell} aig flat second half 
01[10:12] {Threei}  1:2
01[10:12] {Threei}  C... you are our true friend today
01[10:12] {Threei}  "your friendly banker"
[10:12] {Will49} tks Vad...for your friend
01[10:13] {Threei}  Tesla Motors Financial press notes that Tesla Model S sales in Q1 at approx 4,750 will exceed GM Volt sales of 4,400 units
01[10:13] {Threei}  oh, so thet are in competition who sucks less?
[10:14] {Les} last piece slw flat still a bit of life in the miners
[10:14] {thomcbell} long setup qcom 62.1 break if holding 62
[10:15] {nemo} sbux
01[10:15] {Threei}  what's with rug pulls today?
01[10:16] {Threei}  SPY acts as if it keeps ear to the ground and hears distant exposions
[10:16] {Les} trading CAT earlier. Wild cat this morning ripping both ways
[10:16] {thomcbell} no go qcom
[10:19] {nemo} deck
[10:20] {Will49} too early to take to the lifeboats
[10:20] {Les} looking at potential reversal in SLW again, but looks like it wants higher
[10:21] {Les} GDX hesitates
[10:23] {Les} slw short .49 holding .55
[10:24] {dino} hum-dee-dum
[10:25] {Les} partial .40
[10:27] {Les} quarter .30
[10:27] {Les} damn this crazy shit today
[10:27] {Will49} good call Les
[10:27] {Les} 2 of Boeings finest flying over my head
01[10:28] {Threei}  good kangaroo tail reversal
[10:28] {Les} huh?
[10:28] {Les} ty will, a little too quick straight back into resistance
01[10:28] {Threei}  so Les, do you or do you not still have naked chartsd with no indicators?
[10:28] {thomcbell} qcom long setup 62.08 long break if holding 61.98
[10:28] {Les} my TRADING SCREEN charts are naked
01[10:29] {Threei}  ok
01[10:29] {Threei}  and how does it go?
[10:29] {Les} I have a support screen in 3 MINS providing additional information
[10:29] {Les} easier to see a screen without crap on it
[10:29] {Les} see price i mean
[10:29] {thomcbell} target is just 1:2
[10:29] {thomcbell} qcom 1:1
01[10:30] {Threei}  so, just one week with clean charts, and you alreadyh see no need in junk
[10:30] {Les} no I like trading price and volume very simple
01[10:30] {Threei}  come Monday, add BBs
01[10:30] {Threei}  and one simple MA
[10:30] {dino} out qcom .18, +.10 ty tbell
01[10:30] {Threei}  that's all you need
[10:30] {Les} what u using in 1 min time frame on yours
01[10:31] {Threei}  20 MA and BBs
[10:31] {thomcbell} 20 ma on the 1 min Vad?
01[10:31] {Threei}  yeah
01[10:32] {Threei}  50 on daily
[10:32] {nemo} 13 1.7
[10:32] {Les} 1:3 slw and I am flat again
01[10:32] {Threei}  all in all, I believe it was a good experiment, helped you clear things
01[10:32] {Threei}  for 1 min yes, nemo
01[10:32] {Threei}  on daily it's default
[10:33] {Les} yes starting to put indicators in their place
01[10:33] {Threei}  20/2
01[10:33] {Threei}  the more complicated and exotic they are...
[10:34] {Les} which is kangaroo tail GDX or SlW?
01[10:34] {Threei}  remember how during reltless march up for two years, bears were throwing out those Hindenburg Omens and 3 Domes with something
01[10:34] {Threei}  10:24 candle with upward tail
01[10:35] {Threei}  oh, and horribly sounding Death Cross
01[10:35] {Threei}  no one ever heard about those before, but suddenly they were in all articles and blogs
[10:35] {Les} everyone likes a narrative
[10:35] {thomcbell} qcom 1:2
[10:36] {Les} slw again short .20?
[10:36] {Les}  holding .30?
01[10:36] {Threei}  sure enough, none of them ever worked, and market continued up
01[10:36] {Threei}  no read
01[10:36] {Threei}  what kind of setup is that?
[10:38] {Les} shorting into bounce would have been my ideal .25, .20 too late as it dropped into support
[10:41] {nemo} ctxs should be a short between .30 and .40
[10:42] {thomcbell} qcom flat - had that last qtr at 48.38 but didnt get taken
[10:42] {thomcbell} 62.38
01[10:42] {Threei} Long Setup:  GDX  .25 break
[10:42] {thomcbell} i mean
01[10:43] {Threei}  If holds  .15 
[10:49] {thomcbell} prlb looking for a long entry 
[10:49] {thomcbell} feel like this thing might squeeze
[10:51] {thomcbell} kors looks vulnerable here 
01[10:52] {Threei}  1:1
[10:52] {dino} cov
[10:52] {dino} sm l .00
01[10:52] {Threei}  C 1:3, out
01[10:53] {Threei}  last leg took a lot of time but what's our hurry
[10:53] {Will49} you're here till you die
[10:54] {Will49} might as well be amking money :)
[10:54] {Will49} making
01[10:54] {Threei}  with short breaks, to faint as I see asnother earth-shuttering evidence of stupidity
[10:54] {Will49} of course
[10:54] {Les} I didn't say anything
[10:55] {Will49} one needs some entertainment
[10:55] {thomcbell} kors - should have typed the setup - nice little break there 
01[10:55] {Threei}  1:2
[10:56] {Will49} yeah sure tbell...keep the good ones to yourself
01[10:56] {Threei}  hehe
[10:56] {dino} cov stop -.30
[11:02] {thomcbell} wynn flat lvs down 2% 
[11:02] {thomcbell} loooking ofr a double bottom setup here 
[11:02] {thomcbell} your 20 period on the 1 min is a falling knife 
[11:02] {thomcbell} however 
[11:03] {dino} cov rinsed
[11:04] {Les} interesting dollar putting in lower high but market seems torn over it
[11:07] {thomcbell} long setup lvs 55.98 break if holding 55.88
[11:07] {nemo} think Europe Les
[11:10] {thomcbell} lvs invalidated 
[11:13] {backman} GDX heading to ndl?
01[11:14] {Threei}  can;'t tell confidently
01[11:14] {Threei}  rather yes than no, but not enough conviction for a trade
[11:18] {backman} ty
[11:19] {dino} pgti
[11:21] {dino} pgti s .50
[11:22] {nemo} fas
[11:36] {cc_9} GLD NUGT big pullback here
[11:36] {nemo} slv too
01[11:39] {Threei}  no news for this drop
[11:39] {cc_9} getting long this pullback
01[11:39] {Threei} Long Setup:  GDX  .85 break
[11:39] {cc_9} NUGT going to try for $0.35
01[11:40] {Threei}  If holds  .80 
01[11:40] {Threei}  tight stop
01[11:40] {Threei}  no go
01[11:41] {Threei}  gold continues selloff
[11:41] {cc_9} Scaling in, SLV / NUGT i think can squeeze a nice $0.35+ on each
[11:49] {Les} distribution it was. dropped following in favor of taking photos of flowers in garden :)
[11:52] {cc_9} looks like this trade will take longer than anticipated. shiet
[11:52] {dino} pgti stop .66 -.16
01[11:53] {Threei}  drop of a kind I love to exploit but this one came out of nowhere
[11:53] {cc_9} I agree
[11:53] {cc_9} big volume behind it as well
[11:54] {dino} taking break
01[11:54] {Threei}  well, big picture on gold remains negative
[11:56] {Les} GDX long .50 holdgin .40?
[11:56] {cc_9} SLW, very tempting as well, sticking with SLV for now.
01[11:56] {Threei}  nah'
[11:57] {backman} of course, in the land of woulda/shoulda....i thought that blow off high yesterday was going to set the stage for a downward bias in GDX...since my trading has sucked of late....i stayed quiet
[12:03] {Les} so with wyckoff we should see new distribution range here and selloff into close
01[12:09] {Threei} Long Setup:  GDX  .35 break
01[12:10] {Threei}  If holds  .28 
01[12:11] {Threei}  target 1:4
01[12:12] {Threei}  Invalidated  
01[12:12] {Threei}  for now
[12:13] {backman} on dl.short from .06
[12:13] {backman} .16
01[12:14] {Threei}  dl as in double lot?
[12:14] {backman} daily low
01[12:14] {Threei}  oh :)
[12:22] {backman} stopped BE
01[12:23] {Threei} Long Setup:  GDX  .30 break
01[12:23] {Threei}  If holds  .20 
01[12:23] {Threei}  perfect pullback for a double bottom and real recovery
01[12:24] {Threei}  why b/e bman? I'd think .21 was a good stop at the time
[12:25] {backman} twitchy fingers...was trading it as surrogate for GDX
01[12:26] {Threei}  ok GDX
01[12:26] {Threei}  it's time
[12:26] {Les} GG made higher low
01[12:26] {Threei}  1:4 please
01[12:28] {Threei}  1:1
01[12:30] {Threei}  .50 is a challenge, but should be taken, and clear skies after that
[12:31] {Les} bb's in 3 min suggest it may bounce along here with 50 as the top
01[12:31] {Threei}  huh?
[12:31] {dino} .
01[12:31] {Threei}  bbs do no sich thing
[12:32] {dino} pgti rinsed, thats 2 for today
01[12:32] {Threei}  you re back to reading wrong thing in a wrong way Les... no indicators for you for another week
[12:33] {Les} hehehe
01[12:33] {Threei}
[12:34] {dino} no soup for you les
01[12:34] {Threei}  :)
[12:34] {cc_9} SLV, pls crack 23.15. pls
01[12:34] {Threei}  1:2
01[12:35] {Threei}  come on GDX, break hat wall
01[12:35] {Threei}  good girl
01[12:36] {Threei}  boy?
[12:37] {thomcbell} long setup kors 56 break if holding 55.90 
01[12:38] {Threei}  last 1/4 stopped on a trail
01[12:39] {Threei}  interesting day, all about trade management: winners and losers ar 5/50, but losers are 5-10 cents, winners are 1:}2and 1:3
01[12:39] {Threei}  overall positive
[12:40] {thomcbell} yup
[12:40] {Les}
[12:40] {patel} What is 5/50?
[12:40] {nemo} yeah, but Les is a real deadweight on your averages Vad
[12:41] {backman} oatel, it's kinda like he spells ur name   50/50 :=)
[12:41] {Les} ca c'est n'importer quoi
[12:42] {patel} oh okay. thanks
[12:42] {Les} “We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes, while the losers make big mistakes.” 
01[12:42] {Threei}  lol
[12:42] {Les} -Ned Davis
[12:42] {Les} like it
01[12:42] {Threei}  backman learned threeiish well
[12:43] {dino} a good trader knows how to take a profit, a great trader knows how to take a loss 
01[12:43] {Threei}  I almost agree with that sentence
01[12:43] {Threei}  just one correction
[12:43] {stevw} i'm awesome then!
[12:44] {nemo} oh jeez...
01[12:44] {Threei}  winners admit their mistakes and take care of them while they are small
01[12:44] {Threei}  losers get stubborn and let mistakes grow
[12:44] {Les} yeh
01[12:44] {Threei}  A Taoist Trader
[12:44] {Les} damn Vad, Megashot posting some awesome photos
[12:44] {dino} or the classic, profits are luck, losses are skill
01[12:44] {Threei}  take care of a small before it gets big
[12:45] {thomcbell} kors invalid 
[12:45] {backman} thombc....was that Kors trade a 2 way perchance
[12:45] {thomcbell} never triggered 
[12:45] {thomcbell} i dont think so 
[12:45] {backman} ty
[12:46] {thomcbell} it looks like the setup was not great for the long either 
[12:46] {backman} ah...come on...great setup...just didnt trigger
[12:47] {thomcbell} i generally like looking for a vad setup on a strong stock that retraces to previous days pivot - 
[12:48] {thomcbell} thats what my thesis was there on kors
[12:51] {dino} pgti wants vwap
[12:51] {dino} s .40
[12:51] {Les} we can see how LVS has shock and awed the longs chasing into close yesterday
[12:52] {Les} awesome feeling detaching emotions from trading decisions
01[12:53] {Threei}  liberating, isn't it
[12:53] {Les} I think Nemo's taken it one step further and detaches emotions while hiding bodies, but that's seomthing else
01[12:53] {Threei}  that's still not the ultimate perfection Les
01[12:53] {Threei}  here is the next step:
01[12:53] {Threei}  hide bodies in spectacular places and take awesome photos when done
[12:54] {dino} why do you think the flowers grow so well?
[12:54] {Les} :)
01[12:54] {Threei}  lol
[12:54] {thomcbell} vad that was a good DB on qcom a few minutes ago with bounce from 61.59 with retraceand 61.64 trigger right - i have been doing study on that setup 
[12:55] {nemo} I just bring them to my buddy's incinerator
01[12:55] {Threei}  looks very right to me
01[12:55] {Threei}  see Les? nemo has no appreciation for a good landscape
[12:56] {backman} i'd think all the BS in here would keep flowers growing beautifully
[12:56] {nemo} yes I do, experience shows though as the body decays, it leaves a tell-tale hollow
[12:56] {nemo} So....
[12:56] {nemo} you either have to chop it up first
[12:56] {nemo} or, incinerate
[12:56] {nemo} you frickin' amateurs
[12:56] {nemo} GMCR
[12:57] {nemo} only problem, support at .50
01[12:58] {Threei}  can you think of a better place to dunp body and take photo than this:
[12:58] {nemo} nice
01[12:58] {Threei}  take your pick:
01[12:59] {Threei}  wow QCOM
01[12:59] {Threei}  fantastic catch tbell
[13:01] {thomcbell} exactly the kinds of plays we should be looking for today 
[13:01] {backman} any though on GDX breaking .40?
01[13:02] {Threei}  looking at it for the last 5 min bman, and thinking to myself,
01[13:03] {Threei}  it's much weaker than it should have been, cvonsidering the drop
01[13:03] {Threei}  kind of undermines my idea of having a good run after final bottom
[13:03] {backman} how do u mean weaker?
01[13:03] {Threei}  final bottom was in place, yet it stalled amd revisited the trigger
01[13:04] {Threei}  instead of running with nothing more than small pullbacks
01[13:04] {Threei}  makes me very hesitant about long on it
01[13:04] {Threei}  see, when the final bootom is in, it means real reversal, no more sllers, buyers get bold
[13:05] {backman} ...i c ....hasnt' made a 1:1 run before coming back to BE
01[13:05] {Threei}  stock runs fast, furiously trappping those shorts that missed their exit
01[13:05] {Threei}  this one doesn't bubble happily
01[13:05] {Threei}  it bobs up and down
01[13:06] {Threei}  makes me even think, maybe new lows in cards
[13:06] {Will49} very helpful narrative Vad...tks
[13:06] {backman} ahh........i shall watch w u
01[13:06] {Threei}  sure... soetimes it's hard to put these things in words
[13:07] {Will49} good job
01[13:07] {Threei}  especially when typing with fins
[13:07] {Will49} :)
[13:07] {Les}
[13:08] {Les} how I view such a scene. JMO
[13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup
01[13:08] {Threei}  sheesh... MACD
01[13:08] {Threei}  Lesa, you are incorrigible
[13:08] {Will49} hahaha lesa!
01[13:08] {Threei}  I give up
01[13:09] {Threei}  back to "putting things in words..." as my McGraw Hill editor put it many years ago,
[13:09] {Will49} freudian slip Vad
[13:09] {Will49} lesa
[13:09] {Les} actually, your ability to see same thing and rationalise it without looking elsewhere is what I would like to be able to do
[13:10] {nemo} thus marriage
[13:10] {Les} keep quiet you
01[13:10] {Threei}  "I can't edit your writing. It's rough, and English isn't smooth and isn't flowing easy, but as soon as I make it rolling off the toingue easier, it loses this raw power your writing has"
[13:10] {nemo} truth is a jagged blade that rips and tears soft flesh
01[13:10] {Threei}  why aren't you looking at what I am looking then, Les?
[13:11] {Les} I am
01[13:11] {Threei}  why are you mixing in this MACD bs again?
[13:11] {nemo} who are you talking too Vad?
[13:11] {Les} that's a side screen
01[13:11] {Threei}  side or not, you are looking at it an dusing it as reasoning
01[13:11] {Threei}  13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup
01[13:12] {Threei}  now, look at my rasoning
01[13:12] {Threei}  reasoning
01[13:12] {Threei}  can you see that what I am using is the very basic matket language?
[13:12] {Les} yes I see the difference
01[13:12] {Threei}  in terms of lows, highs, volume, pace
[13:12] {Les} I presumed .50 as resistance, while you let market decide it
01[13:13] {Threei}  and that helps me gauge the mood, the determination, the balance of supply and demand
[13:13] {Les} and market having decided resistane, you are no longer sure of long setup
01[13:13] {Threei}  what does MACD hekp you gauge?
[13:13] {Les} potential trend and trend change
01[13:13] {Threei}  it's too formal, too removed
01[13:13] {Threei}  yeah? good luck with that
01[13:14] {Threei}  the difference between what I teach vs what most do:
[13:14] {nemo} we're gonna have a doji today
01[13:14] {Threei}  they would tell you "you are not ready yet to trade without XXX indicator"
01[13:15] {Threei}  I will tell you "you are not ready yet to trade WITH it"
[13:15] {nemo} what about the chicken?
[13:15] {Les} yeh I've seen that this week. I have been trading off of price and volume
01[13:15] {Threei}  chicken entrails you mean?
[13:15] {nemo} yeah
[13:15] {nemo} cree
[13:15] {dino} coin tosses, magic 8 ball
01[13:15] {Threei}  that'ds a very good one, just below the tea leaves
01[13:16] {Threei}  and right above the dartboard
[13:16] {Les} well give me some credit
01[13:16] {Threei}  I did
[13:16] {nemo} right
[13:16] {Les} I have progressed beyond dartboard
[13:16] {nemo} right into the litter box
[13:16] {Les} ty nemo
01[13:16] {Threei}  you just slip back into bad habits too fast and easily
[13:16] {nemo} watch cree .60-.70 for short
01[13:17] {Threei}  at one point in previous life I was lucky to be coached in table tennis by the champion of Moscow
[13:17] {dino} wyn sm l .99
01[13:18] {Threei}  he dropped a sentence once which I still remember
01[13:18] {Threei}  the move you learned last is the one you forget first
[13:19] {nemo} market should come in a little here
01[13:19] {Threei}  this skill that you learned this week is too fresh
01[13:19] {Threei}  dpn't jeopardize it by dropping it too fast
01[13:19] {Threei}  it's not ingrained deeply yet
01[13:19] {Threei}  see his and my point?
[13:20] {nemo} which explains why he's still married
[13:20] {Les} I'll admit error in my trading today, being too reliant on charts and in the spirit of Ritholtz
[13:20] {nemo} CREE
01[13:20] {Threei}  ok... let's start targeting short in GDX
01[13:21] {Threei} Short Setup: GDX  .20 break
01[13:21] {Threei}  If holds  .30 
[13:30] {dino} tsla drop
[13:33] {Les} CAT closing in on 85 resistance
[13:36] {Will49} Vad, just stepped away for a few minutes
[13:36] {Will49} how long ago was the GDX alert?
01[13:36] {Threei}  15 min
01[13:36] {Threei}  never triggered
[13:36] {Will49} tks
01[13:36] {Threei}  invalidated but tries to reestabligh itself
01[13:36] {Threei}  so, still on watch
01[13:43] {Threei}  not anymore :)
01[13:44] {Threei}  gold spike propped GDX
[13:44] {cc_9} SLV finally =)
01[13:52] {Threei}  quite a few strange moves today
01[13:52] {Threei}  looking like they are news-caused, but there is none
[13:52] {Will49} manipulation
01[13:53] {Threei}  ahhh!
01[13:53] {Threei}  that's what it is
[13:53] {Will49} who knows! 
01[13:54] {Threei}  you heard that ben is not going to attend Jackson Hole this evening, first Fed chairman in 50 years to do so
01[13:54] {Threei}  the reason is, he will be too busy manipulating gold
[13:54] {Will49} heard that
[13:54] {Will49} that he's not going
[13:54] {jdetente} Reptilian King not attending Reptilian ceremony...hmmmm lol
01[13:55] {Threei}  lol
01[13:55] {Threei}  my alternative guess is, he can'tstop priniting money even for a minute
01[13:55] {Threei}  deflation may sneak up on him
[13:56] {cc_9} i seriously hope nobody here is listening to alex jones while trading
[13:56] {cc_9} i just scanned and saw the word reptilian
01[13:56] {Threei}  who?
[13:56] {dino} i'm listening to  music
[13:56] {cc_9} good
[13:57] {cc_9} one should only allow for 1 hour max a day of tinfoiling
[13:57] {Will49} is alex jones a guitar player?
[13:57] {nemo} oh, are they talking about the evolutionary level of Les' brain?
[13:57] {cc_9} lol
01[13:58] {Threei}  this is very weird headline:
01[13:58] {Threei}  Explosion in Karachi at political meeting kills at least 4 and injures 20; Taliban claim responsibility
01[13:59] {Threei}  there are political meetings ikn there with anyone but Taliban?
[14:03] {cc_9}
[14:06] {Les} a little volume moving in to SLW
01[14:06] {Threei} Long Setup:  CAT  85 break
01[14:08] {Threei}  not a scalp, has very nice potential
01[14:11] {Threei}  Invalidated  
[14:12] {nemo} that would be entring another gap
01[14:14] {Threei} Short Setup: GDX  .70 break
01[14:14] {Threei}  If holds  .80 
01[14:19] {Threei}  1:1
[14:20] {nemo}
[14:22] {Les} hydrogen powered? good ad
[14:22] {nemo} hope you have a diesel
[14:22] {Les} sigh
[14:24] {dino} cov sm l .60
[14:27] {nemo} wow, cree keeps on going
01[14:28] {Threei} Long Setup:  CAT  .90 break hl
01[14:29] {Threei}  Attention:  CAT  unusally structured play
01[14:29] {Threei}  half lot at .90
01[14:29] {Threei}  with idea tio get stopped under .80 on half lot OR add another half at 85 break
01[14:29] {Threei}  at which point whole lot will get stop trailed to under .90
[14:32] {backman} so for entry at .90...stop is .80?
01[14:32] {Threei}  yes
01[14:34] {Threei}  Invalidated  
[14:37] {dino} hmsy sm s .98
[14:41] {dino} cov hmsy .68, +.30
[14:41] {dino} out cov .90, +.30
[14:42] {Will49} hummin' right along dino
[14:42] {thomcbell} any george jones fans in the room - he passed in the last day 
[14:42] {dino} lucky will
[14:42] {Will49} yes, saw him live  acouple of times
[14:42] {thomcbell} he is very solid 
[14:42] {thomcbell} was
[14:43] {dino} wyn to b/e stuck
[14:45] {dino} out wyn .08, +.09
[14:46] {Les} slw .50 break holdgin .60?
[14:46] {dino} stop pgti .42, -.02
[14:46] {Les} cat valid again?
[14:46] {Les} inveerted h&s
01[14:46] {Threei}  yes, valid again
01[14:46] {Threei}  same idea
[14:47] {Les} gdx and slw at .50
01[14:53] {Threei}  ok... game's half on
[14:56] {Les} failed inverted h&s SPY, or another smaller inverted H&S developing in the right shoulder
[15:02] {thomcbell} jcp got additional news out there now - loan commitment from gs 
[15:02] {thomcbell} and it exploded 
[15:03] {dino} they'll bundle that into a aaa mbs and sell it, lol
01[15:03] {Threei}  missed it watching CAT
[15:08] {thomcbell} long setup trow - 71.65 break if holding 71.55
01[15:14] {Threei}  game's fully on now
01[15:14] {Threei}  stop .88
[15:19] {Les} GDX .45 short holding .55?
01[15:20] {Threei}  rather if holding .50
[15:20] {thomcbell} trow invalidated
[15:22] {Les} C double top at .95?
[15:23] {Les} or short at .85 if holding .95?
01[15:23] {Threei}  if loses .85, yes... otherwise, breakout
[15:23] {Les} k
[15:23] {Les} 2 way?
01[15:23] {Threei}  yup
[15:26] {dino} calling it a week, thx for ideas. decent week
[15:27] {Les} bon weekend
01[15:27] {Threei}  have a good weekend dino
[15:27] {dino} will do, u2
[15:29] {Les} dunno if GS just topped out 2nd time at .50 here
[15:31] {Les} now looks like DT in GS
[15:32] {Les} long C
[15:39] {Les} tighten stop to .90
[15:41] {jdetente} you mean .89
[15:42] {Les} GS droping
[15:45] {nemo} very low volumes across the indexes
01[15:45] {Threei}  oh well
01[15:45] {Threei}  that was a good idea that didn't pan out
[15:46] {Les} u been reading monty python?
01[15:46] {Threei}  why, I have Fed minutes
[15:46] {Les} lol
[15:47] {nemo} reading Monty Python?
[15:47] {nemo} wtf
[15:48] {Les} cutting c -.05
[15:48] {Les} GS says no
[15:49] {Les} "that was a good idea that didn't pan out"...
[15:49] {Les} sounded straight out of a monty python sketch, british stiff upper lip and all
[15:49] {Les} calling it a week
[15:50] {Les} c u's monday
[15:50] {backman} enjoy
[15:50] {Will49} too
[15:51] {Will49} TTFN guys
01[15:51] {Threei}  thank you all
01[15:51] {Threei}  have a great weekend
01[15:51] {Threei}  see you Monday
[15:57] {thomcbell} take care guys