Thursday, June 20, 2013

June 20 2013

To polish the day, Catch of the Day, GDX 1:6 - riding the trend and "choking it" with trailing stop.

Session Time: Thu Jun 20 00:00:00 2013

[09:04] {dino} gm
01[09:04] {&Threei}  morning dino
[09:06] {+cc_9} GM Folks
01[09:06] {&Threei}  cc9 :)
[09:07] {dino} 20 year taking another hit
01[09:08] {&Threei}  don't even look at gold
[09:10] {+cc_9} NUGT needs a R/S
[09:10] {dptl} gm
01[09:11] {&Threei}  dp :)
[09:12] {jdetente} good morning all
01[09:12] {&Threei}  jd :)
[09:12] {jdetente} GLD and GDX. Wow!
[09:12] {stevw} g'mornin fellas
01[09:15] {&Threei}  stev :)
[09:15] {_jackindbox} good morning
01[09:16] {&Threei}  jack :)
[09:16] {bbobr} gm
01[09:16] {&Threei}  bobr :)
[09:16] {Alexs} gm
01[09:16] {&Threei}  alex :)
[09:17] {Will49} gm
01[09:17] {&Threei}  will :)
[09:18] {RonS} buenos dias por todos
[09:18] {stevw} vad, how do you decide which stocks to focus on on a day like today when there are so many gap downs?
01[09:18] {&Threei}  dobroe utro ron
01[09:19] {&Threei}  I don't really...
01[09:19] {&Threei}  just watching usual suspects and waiting for a scanner to offer smething good
01[09:26] {&Threei}  such large gaps produce a lot of volatilty at the open, so better stay careful
01[09:26] {&Threei}  everyone tries to do everything at once and gets killed
[09:27] {dptl} would be SLV short at .10 break?
[09:27] {ese} morning
01[09:27] {&Threei}  ese :)
01[09:27] {&Threei}  I don't know dp, it's -7 frikin%
01[09:28] {&Threei}  why don't we wait out first hysteria
01[09:28] {&Threei}  and start trading when dust settles and setups shape up
[09:28] {dptl} yes you right
[09:28] {cipher} gm
01[09:28] {&Threei}  cipher :)
[09:29] {Les} hi
01[09:29] {&Threei}  les :)
[09:29] {Les} ouch
[09:29] {Les} smackdown on future
[09:29] {Les} s
[09:31] {Les} spy flirting under the 50 here
01[09:32] {&Threei} Short Setup: GDX  .15 break
01[09:32] {&Threei}  If holds  .125 
01[09:34] {&Threei}  If holds  .25 
01[09:34] {&Threei}  stop to .21 now
[09:35] {nemo} alotta' tiptoeing going on
01[09:35] {&Threei}  1:1
01[09:35] {&Threei}  that's not me... I am stompin'
[09:35] {Les} subtle as always
[09:35] {dino} little panic 
[09:35] {Les} stompin with fur boots
01[09:36] {&Threei}  lol
01[09:36] {&Threei}  lose 25 GDX
01[09:36] {&Threei}  and DIE
01[09:36] {&Threei}  subtle enough for ya?
[09:37] {Les} spy under 50 sma triggering some red flags I imagine
01[09:38] {&Threei}  ok... no ultimate death just yet
[09:38] {jdetente} GDX decided to live a few more minutes
[09:39] {Les} die another day
01[09:41] {&Threei} Short Setup: SLW  .80 break
01[09:41] {&Threei}  ugh, late
01[09:41] {&Threei}  no, available again
01[09:42] {&Threei}  If holds  .90 
01[09:43] {&Threei}  trail to .86
[09:43] {dino} c sm l .50 stop lod
01[09:43] {&Threei}  being extra-careful with stops for now
01[09:44] {&Threei}  out
[09:46] {dino} out c .85, +.35
[09:47] {RonS} gj
[09:47] {dino} ty
01[09:47] {&Threei} Short Setup: JPM  .90 break
01[09:47] {&Threei}  If holds  53 
[09:48] {Les} potential handle coming with SPY cup
01[09:53] {&Threei}  Invalidated  
[09:53] {dino} tol sm l .70
01[09:56] {&Threei} Short Setup: FCX  .25 break
01[09:56] {&Threei}  If holds  .30 
01[09:58] {&Threei}  no go
01[09:58] {&Threei}  numbers are coming at 10
[09:58] {dptl} ah...fcx so fast out .35
[09:59] {_jackindbox} short TCK at .45?
[10:00] {dino} alk sm l .88
01[10:01] {&Threei}  TCK... looks tempting
01[10:01] {&Threei}  if stays under .55, woerth a shot
[10:02] {ese} decent numbers
01[10:03] {&Threei}  which is bad for the market
01[10:09] {&Threei} Long Setup:  IWM  .50 break
01[10:09] {&Threei}  late...
01[10:09] {&Threei}  crap
[10:09] {Les} was in sso .30 entry as you called
[10:09] {Les} partial 1:1
[10:10] {Les} frik me
[10:11] {dino} c sm l .45
[10:12] {jdetente} nice fresh wave of panic
[10:12] {Will49} i want my mommy :(
[10:12] {jdetente} so does the market
[10:12] {jdetente} Mama Bernanke
[10:12] {Will49} lol
[10:13] {Les} he definitely ain't mom enough
[10:13] {dino} c'mon will, this is what vad's trained us for. time to have some fun
[10:13] {jdetente} giddyup
[10:13] {Les} pullin the tit on the kiddy bankers
[10:13] {Will49} this is fun?
[10:13] {dino} indeed
[10:14] {Will49} in my dreams
[10:14] {jdetente} fear not Will
[10:14] {Will49} no fear
01[10:14] {&Threei} Short Setup: GLD  .95 break hl
01[10:15] {&Threei}  If holds  .05 
01[10:16] {&Threei}  no go
[10:16] {ese} is Bernackers thinking about wife said she read somewhere that he's contemplating.....anyone else read that?
01[10:16] {&Threei}  yes
[10:16] {Les} Obummer wants him out the door
01[10:17] {&Threei}  guess who comes in his place
01[10:17] {&Threei}  twice as bad
[10:17] {Les} someone even more accommodative
[10:17] {dino} he is done in january 2014
[10:17] {+cc_9} that headfake sure suckered in a lot of bounce players wowza
01[10:17] {&Threei}  unapologetic money printer Yellen
[10:18] {Les} short gdx .14 holding .20
01[10:18] {&Threei}  I still don't know what your beef with Ben is, ese... he does all you lefties want
[10:18] {dino} plus shes always yellin'
[10:19] {Will49} haha
01[10:19] {&Threei}  what my beef with him is I know - he does all you lefties want
[10:19] {ese} ha ha
[10:22] {nemo} If I were Bennie, I'd GTFO!!!  he lived through financial Hell
[10:22] {Les} yeh he did live thru some interesting times
[10:22] {ese} not with his salary he didn't
[10:24] {RonS} expense account maybe...salary 191k...
[10:24] {jdetente} not much
01[10:25] {&Threei} Long Setup:  TZA  .70 break
01[10:25] {&Threei}  If holds  .60 
[10:26] {ese} although..........he gets paid the lowest of all the top bankers about $199,000 the other dudes make in the $400,000 range
[10:26] {Les} he's a bureaucrat dude
01[10:26] {&Threei}  not much for all the harm he is capable of
[10:26] {ese} yup
01[10:28] {&Threei}  so ese... why don't you like him? :)
01[10:28] {&Threei}  keeps rates low, enables unl,mited government spending
01[10:28] {&Threei}  1:1 TZA
01[10:28] {&Threei}  what's not to like?
01[10:30] {&Threei}  btw, forgot to mention TCK 1:1... good spot jack
01[10:30] {&Threei}  1:2 TZA
[10:31] {ese} you and i keep getting into this knock down drag scrap everytime he makes an announcement..........lets just say he's not a positive guy.......does nothein g to instil confidence in the US economy
01[10:32] {&Threei}  so, if I get it right,
[10:32] {ese} lol
01[10:32] {&Threei}  you are fine with what he does, but you want him to say cheerful things while doing that? And you would bve OK with him?
01[10:34] {&Threei}  1:3, out
01[10:34] {&Threei}  whew
01[10:34] {&Threei}  nailed a good one finally
[10:34] {Les} out .98 ty
[10:34] {robbers} Nice trade, thanks.
01[10:34] {&Threei}  yw
[10:34] {dino} lol
[10:35] {Les} GDX stopped
[10:35] {jdetente} wow look at VXX go
[10:38] {+cc_9} going long SPY (SSO) on break of 161
[10:38] {+cc_9} for mini bounce to 161.30-161.40
[10:38] {dino} ll sm l .90
[10:41] {+cc_9} 161 on deck
[10:41] {+cc_9} no 161 break, standing by
[10:42] {nemo} today's the big Quad day too
01[10:42] {&Threei}  quadriple witching?
[10:43] {nemo} yep
[10:43] {+cc_9} 161 test again
01[10:43] {&Threei}  missed that
[10:43] {+cc_9} 3rd attempt
[10:43] {dino} dhi sm l .00
01[10:44] {&Threei} Long Setup:  TZA  .80 break
01[10:44] {&Threei}  If holds  .75 
01[10:45] {&Threei}  1:1
[10:46] {dino} out ll .64, +.74
[10:46] {+cc_9} could get a big bounce on 161.16 break on SPY
01[10:47] {&Threei}  just a scalp
[10:47] {+cc_9} stalling in the early 161s, push at 161.16
01[10:47] {&Threei}  but... if holds .75, valid again oln the dame break
01[10:47] {&Threei}  same
[10:47] {+cc_9} no wall till 161.40
01[10:48] {&Threei}  still valid
[10:49] {+cc_9} here we go 161.16, this is key now
01[10:49] {&Threei}  ok, backing off for now
01[10:50] {&Threei}  cc9's time :)
01[10:50] {&Threei}  canucks, look at loonie
01[10:50] {&Threei}  if that's not a beauty... and I believe more to come
01[10:51] {&Threei}  USD is about to become a re-crowned king
[10:51] {dino} sd l .00
[10:52] {+cc_9} you guys see how 161.16 tested both on way up and now on slight fade ?
01[10:53] {&Threei}  former resistance becomes new support
01[10:54] {&Threei}  I have to say, bounces are way too meek for such a drop
01[10:54] {&Threei}  like poking an amoeba
[10:54] {Les} SDS offers tempting SPY short break of 41
[10:55] {+cc_9} I
[10:55] {Les} vwap is just a little higher on spy though
[10:55] {+cc_9} I'd wait to see what SPY does first at 161.40 before deciding to go short again imo
[10:55] {+cc_9} the seesaw is fast today, not a good day to get stopped out every 5mins
[10:55] {Les} yeh can wait
01[10:57] {&Threei} Short Setup: CAT  .20 break hl
01[10:57] {&Threei}  If holds  .30 
01[10:57] {&Threei}  two-sided
[10:59] {dino} 07 green, giddy-up
01[11:00] {&Threei}  no go
[11:00] {dino} hmmm, 07 red. eggshell market
[11:07] {Alexs} rear side of CAT was better
01[11:07] {&Threei}  yeah
01[11:08] {&Threei} Long Setup:  TZA  .90 break
01[11:08] {&Threei}  If holds  .80 
01[11:09] {&Threei}  1:1
01[11:14] {&Threei} Long Setup:  TZA  .90 break
01[11:14] {&Threei}  If holds  .80 
01[11:14] {&Threei}  deja vu
01[11:16] {&Threei}  1:1
01[11:17] {&Threei}  total deja vu
[11:18] {stevw} volume picking up this time though
01[11:18] {&Threei}  yes, and pierced through solid resistance
01[11:18] {&Threei}  we want panic
01[11:18] {&Threei}  good one
01[11:18] {&Threei}  we love those
01[11:18] {&Threei}  those are fun (slanting at Will)
[11:18] {Les} except market halts
[11:18] {Will49} meh
[11:19] {Les} those aren't fun
[11:19] {Les} so not toooo much panic
[11:19] {Les} but not too little either
[11:19] {Les} this is too orderly
01[11:22] {&Threei}  between you two I don't know what to do
01[11:22] {&Threei}  one doesn't want panic, another wants more panic
01[11:22] {&Threei}  I'll go to a monastery for a year, you make up your mind(s) meanwhile
[11:22] {Les} are you referring to me as a split personality vad?
01[11:23] {&Threei}  if I were I'd say three of you
01[11:23] {&Threei}  Will and two Les's
[11:23] {Les} Will has a personality?
[11:23] {Will49} i am at one with the markets
[11:23] {Les} market trying for hail mary pass
[11:24] {dino} ddd sm l .99
[11:25] {Les}
[11:25] {Les} this be you then Will?
[11:26] {Les} you're better looking than Nemo makes you out to be
[11:26] {Will49} in my dreams :)
[11:27] {dino} i have to say it, buy the dips
[11:27] {Les} oh belt up dino :)
[11:28] {jdetente} btfd
[11:29] {Les} wanna plunge like the boy trader
[11:33] {+cc_9} SPY having a very hard time catching bids
[11:33] {nemo} Europe closed, if it's gonna' it's gonna' here
[11:33] {nemo} 160.14 is daily S3
01[11:34] {&Threei} Short Setup: GDX  25 break
01[11:34] {&Threei}  If holds  .10 
[11:35] {stevw} hmm, the midday GDX short - it so often gives me hand cramps sitting on the stop button
[11:36] {+cc_9} i find it funny that 2 days ago market ramping ahead of the FED meeting, fully knowing it will tamper
[11:36] {+cc_9} yesterday news of tampering is out
[11:36] {+cc_9} market crashes for 2 days
[11:36] {+cc_9} bizzaro world
[11:36] {Les} guessing SPY flirting with stops and bears under 50SMA 1 or 2 days
[11:38] {Les} SSO looking for long but this back and forth crap is not a setup
[11:38] {+cc_9} lets see if any bids at 161 again
01[11:41] {&Threei}  you are off the hook stev
[11:41] {stevw} got to admit, i am kinda relieved
01[11:41] {&Threei}  lol
[11:41] {jdetente} fur boots is not happy with you stev
[11:42] {stevw} i missed what that fur boots thing was all about the other day
01[11:42] {&Threei}  it was couple weeks ago I think
01[11:43] {&Threei}  old russian joke about the guy frpm remote village who asked radio station every day to play his favorite song Fur Boots
01[11:44] {&Threei}  when on 5th day he suddenly requested 5th sympony by Bethoven, station said:
01[11:44] {&Threei}  don't be a pest, listen to your favorite song Fur Boots'
01[11:44] {&Threei}  so... GDX became our Fur Boots song :)
[11:44] {stevw} ah
01[11:45] {&Threei}  oh, and the village was called Duck Feet
[11:45] {Les} ?
01[11:45] {&Threei}  not that it matters
[11:46] {Les} vol on spy
[11:47] {+cc_9} jeez, these dead cat bounces are getting annoying
[11:47] {nemo} this is turning into a gap down consolidation
[11:47] {stevw} some double deja vu on TZA?
01[11:48] {&Threei}  not sure
[11:48] {Les} bb's flat here
[11:48] {nemo} this area is a major level on the daily and as a retrace going back to November
[11:48] {nemo} on IWM that is
[11:49] {+cc_9} if SPY can hit 161.50 i will eat so much gabagool
[11:50] {dino} xone spike
[11:50] {+cc_9} is it too early for gabagool jokes
[11:50] {Les} Jesse getting moralistic: There are a number of ways to repair the damage to the real economy and get it growing again.  One way NOT to do it is to look at the landscape through the eyes of the trader or the speculator.  For the most part they are self-absorbed and blinded by their predatory instincts.They are not creators of real wealth.  
[11:50] {Les} YOU ARE ALL SCUM!!
01[11:50] {&Threei}  idiot
[11:50] {jdetente} who said that?
[11:51] {Les} Jesse's American Cafe
[11:51] {Les} Orthodox Christian
[11:51] {Les} gold bug
01[11:51] {&Threei}  if his trade went in his favor he would be all so very proud of his trading skills
[11:51] {Les} no trades
01[11:51] {&Threei}  as it goes against him, traders are enemies
[11:51] {jdetente} Orthodox Christian? What does that mean exactly? Greek Orthodox or something?
[11:51] {Les} this is a conspiracy and he expected ti
[11:52] {Les} it
01[11:52] {&Threei}  if he did, why didn't he take short position?
[11:52] {Les} 1 step short of a fundamentalist
[11:52] {Les} cause he's taking moral high ground vad
[11:52] {+cc_9} come on SPY, push 161.10 bids already
01[11:52] {&Threei}  of course
01[11:52] {&Threei}  las I said, idiot
01[11:52] {&Threei}  who will get a lot of people into deep troubles
[11:52] {jdetente} I love these people. Traders are evil!
01[11:53] {&Threei}  very moral and very christian
[11:53] {Les} I guess your taxes don't count
[11:53] {Les} as creator of wealth
[11:53] {Les} gotta buy and hold
[11:53] {jdetente} good ol buy and holders (not Eric)
01[11:53] {&Threei}  how does that work for him?
[11:54] {Les} no idea - he be preaching it to us
01[11:54] {&Threei}  and if he is so pure, why is it gold and not something benefitting real economy that he buys?
[11:54] {jdetente} and how is speculating on gold not evil??
[11:55] {jdetente} speculation is speculation
01[11:55] {&Threei}  worst kind of goldbugs... religious zealots
[11:55] {Les} cause he's a one trick pony I guess
[12:00] {Les} stalled, off to Aikido. a+
[12:00] {jdetente} pyjama party?
[12:00] {Les} yep
[12:00] {Les} male pyjama party. read it and weep
[12:01] {+cc_9} push baby push
[12:01] {+cc_9} gabgool on the way
01[12:02] {&Threei}  Les, wait... dp will send hi mechanic
01[12:02] {&Threei}  his
01[12:02] {&Threei}  ugh, late
[12:02] {jdetente} Les was in rush to meet male counterparts
01[12:03] {&Threei}  yes but... that mechanic coluld come handy... I heard he is so charmingly distracting
[12:04] {+cc_9} My SSO entry (click) }}}
[12:04] {+cc_9} yea yea, took an hour but w/e 
01[12:04] {&Threei}  GDX... stev, we will live to regret letting this one slip away
[12:05] {RonS} Exit: you’re gonna hate the way this looks, I guarantee it
01[12:05] {&Threei}  lol
01[12:05] {&Threei}  wow... GLD
[12:05] {jdetente} that's a big red bar
[12:05] {jdetente} more to come I'm sure
01[12:05] {&Threei}  I really wanted that 125 break short
[12:05] {dino} dji picked up 50 since buy the dips call
01[12:06] {&Threei}  and got distracted
01[12:06] {&Threei}  and there is no even mechanic to blame
01[12:06] {&Threei}  (*$%&)@
[12:07] {stevw} but look at how that GDX just hugs it's midday price regardless
[12:07] {stevw} maybe conservative entry on GDX makes more sense in this situation, e.g. .95
01[12:07] {&Threei}  hmmm
01[12:08] {&Threei}  if it has troubles to get going, I'd think opposite
01[12:08] {&Threei}  aggressive entries, to get more room
[12:09] {stevw} yeah, i get that for sure, but i guess i lean to cons entries on stuff like GDX where i've been jaded by it sticking through the midday
[12:10] {dino} giddy-up
[12:10] {jdetente} pushin'
01[12:19] {&Threei}  OK... I have two regrest now, GLD 125 and GDX 25
[12:26] {dino} ddd to .49
[12:29] {ese} off the I was saying.....Ben Ber- goofball is suppose to inspire confidence in the economy with his words....confidence creates liquidity...the man is an abject failure.....I dont mind the fact he's printing money except keeping interest rates so fricken low is not going to get the middle class to put there money in any savings accts...
[12:30] {jdetente} so we need a soothsayer to make everyone feel warm and fuzzy??
01[12:30] {&Threei}  ok... so, as I said - in your view he does right things but doesn't say right words?
[12:30] {nemo} talk about a fat pitch right down the middle
01[12:30] {&Threei}  in other words, economy functions on sound bites and not on real data and laws of economy?
[12:31] {dino} ddd to .64
[12:31] {ese} real soon......not to mention that 50% of Americans don't own any stocks or bands of any sort so nobodys making any money at all right now.....
01[12:31] {&Threei}  and he is supposed to fix tat by saying encouraging words?
01[12:31] {&Threei}  man... I want to live in your world :)
[12:31] {ese} ya I like that ....bands instead of bonds....lets go with that......anyway
[12:32] {ese} ya why not.......
[12:32] {dino} out ddd .72, +.73
[12:32] {ese} present mode of operations is not friggin workin
01[12:32] {&Threei}  no
01[12:33] {&Threei}  but ny contention is: it doesn't work because they do wrong thing
01[12:33] {&Threei}  yours, if I get it right and I asked twice:
[12:33] {dino} ese, 50% do own tho, so 50% making cake
01[12:33] {&Threei}  they do right thing but doesn't sing lulabye while at that
01[12:34] {&Threei}  here is a question for you to ponder honestly, ese:
01[12:34] {&Threei}  if QE helps economy, how come biggest intervention in history produces no growth?
01[12:34] {&Threei}  or such tepid growth, entirely supported by money injection
[12:34] {dino} lbtya spike
[12:35] {ese} a lot of corps making money right now......somethings growin
01[12:35] {&Threei}  oh, so you think economy is healthy and growing?
01[12:35] {&Threei}  again... I want to live in your world :)
[12:36] {ese} it's not totally healthy......but it's not as bad as it was
01[12:36] {&Threei}  actually it's worse
01[12:36] {&Threei}  think about it for a min:
01[12:36] {&Threei}  a few years ago banks were failing, credit was contracting, companies were downsizning
01[12:36] {&Threei}  why?
01[12:37] {&Threei}  because of the unsustainable expansion before
01[12:37] {&Threei}  so, what was happening was a normal healthy process of eilimination of excesses
[12:37] {dino} guys, never let emotions get in the way of making money. back to work
01[12:37] {&Threei}  what did Ben and company do?
[12:37] {ese} i would agree with that
01[12:38] {&Threei}  they refuelled expancion, not letting economy to heal, and deepening the sickness
[12:38] {ese} good point.....
01[12:38] {&Threei}  niow we have zombie economy
01[12:38] {&Threei}  limping while money injection continues
01[12:38] {&Threei}  dying when injection stops
[12:38] {ese} but at what cost......a 10 to 15 years depression like the 30's
01[12:38] {&Threei}  how is it healthy?
01[12:39] {&Threei}  well, how long the depression will be when you stop injection?
01[12:39] {&Threei}  remember, you deepened the hole
01[12:39] {&Threei}  see npw what I mean whan I say he does the wrong thing?
01[12:40] {&Threei}  he treats it as liquidity crisis
01[12:40] {&Threei}  and it's not
01[12:40] {&Threei}  and the payback will be much worse tha nif they allowed creative destruction to take place a few years ago
01[12:41] {&Threei}  one of the fastest recovery from credit crisis took place in 1911 if I remember correct,
01[12:41] {&Threei}  know what they did to heal it?
[12:41] {ese} this is going to be a time will tell thing
01[12:41] {&Threei}  NOTHING!
01[12:41] {&Threei}  they let it play out, and it was over in a year
[12:42] {RonS} Brother Ray's succinct description of a lot of charts:
[12:42] {ese} I get your argument......
01[12:43] {&Threei}  failure must be allowed to fail
01[12:43] {&Threei}  if you prevent it, you reward bad practices and punish good ones
01[12:43] {&Threei}  what you say while at it is absolutely irrelevant
01[12:43] {&Threei}  soothing words help no one when people have no jobs
01[12:44] {&Threei}  and don't havce to look for them, because they are fed
[12:45] {ese} awesome......whos the band backin him up
01[12:45] {&Threei}  lefties of all kinds
[12:45] {dino} the problem is, the economic system is now known as "formally capitalism". they need to get out of the way
[12:45] {RonS} hmmm, can't figure out if am reading Ludwig von Graifer or Frederich von Graifer...
01[12:45] {&Threei}  lol
01[12:45] {&Threei}  certainly not Karl Marx, that I can tell you :)
[12:45] {Will49} haha ron
[12:46] {Will49} I have a question:
[12:46] {Will49} why are you guys trying to convince each other of your opinions?
01[12:47] {&Threei}  I am genuinely trying to understand the thinking behind "ben is bad because he doesn't sing lulabye"
[12:47] {Will49} and you ese?
01[12:47] {&Threei}  and for the world of me can't
[12:48] {dino} ben's more of a rapper
[12:48] {jdetente} lol
[12:48] {jdetente} good one dino
[12:48] {dino} i knew you'd like tht jd
[12:48] {ese} except that............i didn't use the word 
[12:48] {ese} lulabye
[12:49] {RonS} CME = monster...acting like it's gonna get bought...
[12:49] {ese} confidence is the word.......
[12:49] {dino} going to be a tough bar-b-q at vads for ya ese
[12:49] {ese} lol
[12:49] {dino} my advice, drink heavily
[12:49] {ese} yup
[12:49] {ese} rotflol
[12:49] {Will49} dp and i will support you till your nose bleeds
[12:50] {ese} theres as much human nature at play here as anything else.....
[12:50] {Will49} ooops...forgot who was supplying the vodka
[12:50] {dptl} he he just wait
[12:51] {jdetente} can someone shoot video ringside??
[12:51] {dino} ]lol will
01[12:51] {&Threei} Long Setup:  LVS  .70 break
[12:51] {stevw} look, i didn't come here for this, i came here for an argument - - sorry, this is Abuse, Argument's down the hall
01[12:51] {&Threei}  lol stev
[12:51] {ese} the mrkt reflects greed and pain etc etc......human emotions...people invest based on emotions
[12:51] {Alexs} hl LVS?
01[12:52] {&Threei}  I think so
01[12:52] {&Threei}  explain then why market goes up for years, ese
[12:52] {ese} there not going to do sweet f a if they don't feel good about it or about what there doing........
[12:52] {jdetente} general public you mean?
01[12:52] {&Threei}  no confidence, ben doesn'/t say reassuring words... how come m,arket has doubled?
[12:53] {RonS} puking now...Hillary Clinton calls Sen. Claire McCaskill to thank her for her endorsement
01[12:53] {&Threei}  I have an answer readily available, btw
01[12:53] {&Threei}  yikes
[12:53] {ese} triple shot please .......ahhhhhh....make that a quadruple
01[12:53] {&Threei}  well... I guess we know for sure who is going to be dem candidate in 2016
[12:54] {jdetente} no go LVS
01[12:54] {&Threei}  ?
[12:54] {jdetente} oops early thought I saw a .59 print
[12:54] {RonS} not unless she gets a facelift and rid of that goofy laugh...
01[12:54] {&Threei}  it never triggered
[12:55] {jdetente} it was printing .72 when you called
[12:55] {jdetente} or did my eyes deceive?
[12:55] {dptl} well it did print .72.....i didt take it dont really understand the set up ...but it did print .72
01[12:56] {&Threei}  what the..
01[12:56] {&Threei}  I never saw .70 broken
[12:56] {dptl} 12: 52 candle
01[12:56] {&Threei}  was .70 broken on level 2?
01[12:57] {&Threei}  candle is candle, erroneous print can make it
[12:57] {dptl} ye breffly
[12:57] {dptl} it was few 
01[12:59] {&Threei} Short Setup: GDX  .85 break
[12:59] {RonS} time to beak out the rockets:  FBI uses drones in domestic surveillance operations: Director Mueller
[13:01] {Alexs} GDX two-sided?
01[13:01] {&Threei}  no, not by me
01[13:02] {&Threei}  Watchbird by Robert Sheckley, Ron... sci-fi becomes reality, with the same frigntening outcomes
01[13:02] {&Threei}
[13:03] {dptl} "Who let that thing in?"
[13:03] {dptl} "I don't know," the nurse said, her voice muffled by the mask.
[13:03] {dptl} "Get it out of here."
[13:03] {dptl} lol
01[13:05] {&Threei}  PIMCO ‏@PIMCO 36m
01[13:05] {&Threei}  Gross: Mr. Chairman are you serious? Monthly payment for a 30-yr mortgage up 20% since Jan & 25% since last Sept. So home prices will go up?
01[13:05] {&Threei}  remember yesterday's comment that fed is puzzled by rates going up?
01[13:06] {&Threei}  they are losing control...
[13:06] {dptl} what is stop for GDX  .91?
01[13:06] {&Threei}  .96 for now
01[13:06] {&Threei}  and loss of control means deflation
01[13:07] {&Threei}  that's what commodities and USD are signalling
[13:07] {nemo} should be bottom
01[13:07] {&Threei}  for SPY, nemo?
[13:07] {nemo} all indices
01[13:10] {&Threei}  I am not convinced...
[13:10] {nemo} well, no, it has to get through resistance
01[13:11] {&Threei}  absence of firce buying and ordely quiet slide is not an encouraging sign for bulls after such gap down
01[13:11] {&Threei}  fierce too
[13:11] {nemo} it's early, and not much going on in the futures pits...some buying came in, but no selling
01[13:11] {&Threei}  sheep walking toward the guillotine is more like it
[13:16] {dptl} still vali GDX right?
[13:16] {Alexs} sds long .15?
[13:16] {dptl} just dont like that spike
[13:16] {nemo} size in cash sell in futues
[13:17] {nemo} oops
[13:17] {+cc_9} lol @ FB
[13:17] {+cc_9} feel like their bs has hit a plateau
[13:17] {+cc_9} instagram CEO talking about video sharing
[13:17] {+cc_9} groundbreaking...
[13:19] {nemo} we drop .50 .14 next stop likely
[13:21] {nemo} no conviction volume in the SPY
[13:22] {dptl} Vad, are you mooving your stop to .93 above that spike, or keep it at .96?
01[13:23] {&Threei}  hmmm
01[13:23] {&Threei}  yeah, .93
[13:24] {dptl} ok thought so
01[13:26] {&Threei}  SPY wants another breakdown
[13:27] {nemo} I've got a long divergence building since the open
01[13:29] {&Threei}  I'd look for aggressive entry for the breakdown... like, TZA from under 33
01[13:30] {&Threei}  with idea of SPY makiing inverted C&H
01[13:31] {&Threei}  breaking .50 and cascading in horrifying bout of panic
[13:34] {Alexs} so is it official set up TZA?
01[13:34] {&Threei}  watching
01[13:35] {&Threei}  crap
01[13:35] {&Threei}  got away
[13:36] {dptl} ye..i think so
01[13:36] {&Threei}  wanted anothwer bar under 33, defining it as a resistance to break
[13:37] {ese} catch you on the flip tomorrow
01[13:38] {&Threei}  take care ese
[13:38] {+cc_9} made peanuts today
[13:44] {nemo} I like macadamia myself
[13:44] {Will49} lol
[13:44] {nemo} big gaps can be tough
01[13:45] {&Threei}  yeah, most of the move is in gap
01[13:45] {&Threei}  and market may stall
[13:52] {Will49} if that GDX spike lasts more than 4 hrs....
[13:55] {dino} for a huge down day, not much action last hour or so
[13:55] {nemo} big gap...just down
01[13:57] {&Threei}  this makes me think we are far from the end of selloff, dino
[13:58] {dino} could be
[13:59] {dino} odd, usually more movements on gap downs
[13:59] {dino} in any case, we filled the fri and mon close gaps
[14:00] {dino} i remembering saying they would fill, happens week in week out lately
01[14:05] {&Threei}  GDX looks better and better
01[14:06] {&Threei}  no drive whatsoever
01[14:06] {&Threei}  just hope it slides slowly, so there are no buyers turning it into scalp
01[14:06] {&Threei}  or if it drops fast, then give us 1:3 in one big swoop
[14:07] {Will49} waht about the spike at 13:52?
[14:07] {Will49} didn't that takes out?
[14:07] {Will49} takes us out
[14:08] {jdetente} slip sliding away
01[14:08] {&Threei}  that's out of bounds print
01[14:08] {&Threei}  bit an actual move
[14:08] {Will49} ah
01[14:08] {&Threei}  not
01[14:11] {&Threei}  1:1
01[14:12] {&Threei}  so far so good... slow and orderly slide
01[14:12] {&Threei}  stev... feeling better?
01[14:14] {&Threei}  anyone's alove?
01[14:14] {&Threei}  alive
01[14:14] {&Threei}  breating?
[14:14] {jdetente} yup. partialed
[14:14] {dptl} :)
[14:15] {Will49} :)
[14:15] {jdetente} watching the slide
[14:15] {stevw} i'm happy for you, but i've been messing around elsewhere, shorting WMT for .12 scalps
01[14:15] {&Threei}  if it works...
[14:16] {stevw} so far so good - and hopeful for a big dump soon
[14:17] {dino} tmi 
01[14:17] {&Threei}  ummmh
[14:17] {stevw} lol
01[14:17] {&Threei}  lol
[14:17] {jdetente} change in diet perhaps stev?
01[14:18] {&Threei}  frikin locker room :)
01[14:18] {&Threei}  we need a lady
[14:18] {stevw} c'mon, you guys saying you don't enjoy it
[14:18] {dptl} lol
[14:18] {nemo} ese is close
01[14:18] {&Threei}  we do stev, an thnat's the most disturbing part
[14:19] {stevw} was is George Carlin who joked about looking at it?
01[14:19] {&Threei}  GDX... let's do next step
01[14:20] {&Threei}  just do it sadly and slowly
[14:20] {stevw} which thread is that for?
01[14:20] {&Threei}  wow SPY
[14:21] {dptl} cascade?
01[14:21] {&Threei}  (GR) IMF to suspend payments to Greece next month unless €3-4B hole in the rescue program is plugged - FT- The gap emerged after eurozone central banks refused to roll over Greek bonds they hold. - The shortfall may force eurozone finance ministers to discuss alternate sources of funding, including the possibility of a fresh bailout program.
01[14:21] {&Threei}  cool
01[14:21] {&Threei}  ***Reminder: On June 18th, Cyprus President Anastasiades asked eurozone leaders for a complete revamp of his country's €10B bailout. Numerous EU officials have reiterated that there would be no new bailout terms for Cyprus.
[14:26] {robbers} For lunch, I'm short gold miners and long pizza.
01[14:27] {&Threei}  sounds about right
[14:27] {jdetente} chocolate covered bacon for me
01[14:28] {&Threei}  1:2
01[14:29] {&Threei}  Will... forgive me for being inquisitive but I just must ask... how is it not fun?
01[14:30] {&Threei}  whole world is trying to catch the bottom... you short into their cheepishness and enjoy the ride
[14:30] {Will49} did I say it wasn't fun?
01[14:30] {&Threei}  didn't you?
[14:30] {stevw} so we agree, we all like a big dump
01[14:31] {&Threei}  and Canadian buck... beauty
01[14:31] {&Threei}  lol
01[14:31] {&Threei}  WMT works for yuo too
[14:31] {+cc_9} wowza
[14:31] {+cc_9} this drop just woke me up
[14:31] {stevw} yup
[14:31] {stevw} may not scalp this time
[14:32] {stevw} seems to have more decidedly given up .50
[14:32] {stevw} and still needs to catch up with the dropping indices
01[14:37] {&Threei}  we need to decide what to do
01[14:37] {&Threei}  take 1:3 and holds and trail
01[14:37] {&Threei}  and = or
[14:37] {nemo} you may run into short covering in the not too distant future
01[14:37] {&Threei}  still no sharp drop
01[14:37] {&Threei}  ok... I'll try to trail
[14:38] {stevw} shorting JPM at .75
[14:42] {jdetente} covered .56 and out 
01[14:42] {&Threei}  1:3
01[14:42] {&Threei}  trailing to .66
[14:49] {dptl} i am out .54 ty
01[14:51] {&Threei}  yw
01[14:51] {&Threei}  I want more
01[14:51] {&Threei}  slow slide = more to come
[14:52] {dptl} ye for sure...and there is always antigreedin lol
01[14:52] {&Threei}  yes, and give me more, more of it!!
[14:53] {dptl} lol
[14:54] {dptl} i'll bring it on sat :)
[14:54] {stevw} i had to tolerate a wider than standard stop on JPM, (chart suggested it), but it's paying off now
01[14:56] {&Threei}  1:4
[14:57] {jdetente} Nicely done
[14:57] {jdetente} more patienter
01[14:57] {&Threei}  becomes more vertical
01[14:57] {&Threei}  verticaler I should say
01[14:57] {&Threei}  covered almost all, 200 shares left
01[14:57] {&Threei}  stop .56
[14:58] {Les} what we in?
[14:58] {Les} no male pyjama party jokes please
[14:58] {stevw} covering half WMT for 1:4
01[14:59] {&Threei}  in fur boots, at 1:4 and counting
[14:59] {Les} below s3 with bullish divergences at spy .50 break
01[14:59] {&Threei}  wtg stev
[14:59] {Les} beautiful chart GDX
01[15:00] {&Threei}  isn't it... short from .85
[15:01] {Les} where r u 9?
[15:01] {nemo} he's regenerating in the Borg cube
[15:02] {Les} must remind u all once again, you are participating in criminal conspiracy selling GDX
01[15:03] {&Threei}  1:5
01[15:03] {&Threei}  100 more out
[15:03] {stevw} yowsers, nice!
01[15:03] {&Threei}  last 100 left
[15:03] {Les} jealous
[15:03] {stevw} sorta
[15:03] {Les} no, I am
01[15:04] {&Threei}  stop to .36
[15:04] {stevw} but, being short JPM and WMT for less than half the time it took you guys, compensates
[15:04] {stevw} ;)
01[15:04] {&Threei}  1:6
01[15:04] {&Threei}  stop to .31
01[15:04] {&Threei}  will start choking it now
01[15:05] {&Threei}  stop to .26
[15:05] {stevw} well, that's one way to celebrate
01[15:05] {&Threei}  lol
[15:05] {dino} lol
[15:05] {dino} sm l atro .82
01[15:05] {&Threei}  actually... ROFL
[15:06] {stevw} ah geez, now i have to do a costanza
[15:06] {jdetente} now that's locker room humor! lol
[15:06] {dptl} nice looking chart :)
[15:06] {Les} I remember catching this falling knife in 2011. How nice to be on right side this time
[15:06] {Will49} congrats Vad... that was nice to watch
01[15:06] {&Threei}  out
01[15:06] {&Threei}  ty
[15:06] {dino} nice one vadster
[15:07] {jdetente} yeah that was a freakin' beauty
01[15:07] {&Threei}  :)
[15:09] {RonS} how do you spell s c r e w e d?...All-women jury chosen for George Zimmerman's trial in fatal Trayvon Martin shooting
[15:09] {Les} is that legal?
[15:10] {Les} having women in a jury?
[15:11] {RonS} wow vix +22% to 20.35...
[15:11] {nemo} depends on how many are white or hispanic
[15:11] {stevw} WMT and JPM are dickin' with me, so I'll preserve profit in WMT and see if JPM can fall back down
[15:13] {Les} grabbed +.30 of SSO, but only 100 shares, dunno if 2nd entry being offered shortly on SPY bounce
01[15:18] {&Threei}  visual:
[15:19] {Les} vad 2nd long entry on SPY around .50 support?
[15:19] {Les} recross?
[15:19] {Les} SSO at the lows
01[15:19] {&Threei}  50/50 les
01[15:19] {&Threei}  can jump, can dump
[15:19] {Les} k
01[15:19] {&Threei}  I am not jazzed
[15:20] {Les} I wouldn't be either sitting on 1:6 profits ;)
01[15:20] {&Threei}  it's just that downtrend today is really relentless
01[15:20] {&Threei}  and I haven't see real eaxhaustion yet
[15:21] {Les} yeh was surprised to see SPY cahrt defaulting to .25 increments. Thought I had the wrong chart
01[15:21] {&Threei}  andf this really made my day, humor wise... 15:05] {stevw} well, that's one way to celebrate
[15:21] {Les} Nemo's found a soul mate
[15:22] {stevw} geez vad, a little decorum, please; at least from the host
[15:22] {stevw} you shouldn't indulge guys like me
01[15:22] {&Threei}  well... good joke is a good joke
01[15:22] {&Threei}  I can't resist it
[15:23] {Les} I'd like to short GDX but below s3 the odds r against me
[15:23] {Les} looking at .50 support here
01[15:23] {&Threei}  so, I fully expect a good portion of hate mail today, after posting Catch of the Day on GDX on the blog full of goldbugs
[15:23] {stevw} speaking of jokes, but bad ones - how the heck did i get stopped out of TZA twice!?!?
[15:24] {Les} please share tomorrow
01[15:24] {&Threei}  it stopped our balance after hitting 1:1
01[15:24] {&Threei}  if there are good ones, I will Les
[15:25] {stevw} yeah, sometimes following the rules sucks - but not following them can be a whole lot worse
01[15:25] {&Threei}  garden variety about "you hate gold" and "you worship debt" are boring and too stupid
[15:31] {Les} .50 short gdx was good setup without me
01[15:32] {&Threei}  same here... looked it, liked it but didn't have enough conviction
[15:32] {Les} clearly the golbugs share the same lack of conviction :)
[15:38] {jdetente} tomorrow is going to be very interesting...looking forward to it :)
[15:39] {nemo} this probably about China, tomorrow likely to be a bloodbath too
[15:41] {nemo} vxx ripping higher
[15:42] {jdetente} was just going to say that
[15:42] {nemo} ha ha
[15:42] {jdetente} hasn't been this high since April
[15:44] {jdetente} remember yesterday afternoon's fakeout nemo 
[15:44] {jdetente} VXX was plummeting
[15:44] {jdetente} then blamo
[15:44] {Les} how strange after yesterdays candle
[15:45] {Les} perhaps not, given that it drops and then returns to HoD
[15:46] {Les} got a narrowing ascending wedge in SDS SPY bear
[15:48] {jdetente} don't pick it Les
[15:48] {Les} big volume spike sds 42 and reversal
[15:50] {stevw} well, i'll have to settle for 1:3 on JPM
06[15:50] * Les slaps stevw around a bit with a large trout
[15:51] {stevw} hey, if it tracked the indices closer, it would have been more like 1:5
01[15:52] {&Threei}  pathetic bounce
01[15:52] {&Threei}  more selling to come
01[15:53] {&Threei}  still csan't believe Gandolfini...
01[15:54] {&Threei}  51...
[15:54] {Les} told ya bacon is bad for ya
[15:54] {dino} he was great in sopranos
01[15:54] {&Threei}  you know his diet intimately, of course
[15:54] {RonS} that guy was eating whole hams and more...
01[15:54] {&Threei}  fantastic actor
01[15:55] {&Threei}  amazingly authentic
[15:55] {dino} out atro .88 +.06
[15:55] {jdetente} Sopranos one of the best shows all time
01[15:55] {&Threei}  I agree
[15:55] {Les} have to watch it again. didn'r really appreciate sopranos first time watched it
01[15:55] {&Threei}  you are kidding
01[15:56] {&Threei}  how can one not appreciate it
01[15:56] {&Threei}  prudish europenas
[15:56] {Les} he's not Marlon Brano
[15:56] {Les} nah not big on serial tv anymore
01[15:56] {&Threei}  ah forgive me... no violinist but Paganini can enter
01[15:57] {&Threei}  Ok guys, thank you all
[15:57] {Will49} facinating day! see you tomorrow
01[15:57] {&Threei}  have a good evening, see you tomorrow
[15:57] {RonS} thinkin it's Pagnini...
[15:57] {stevw} till tomorrow
[15:58] {jdetente} See ya guys. Thanks Vadd
[15:58] {jdetente} Vad
[15:58] {Les} yeh if u let me in again vad. a+
01[15:58] {&Threei}  Niccolò (or Nicolò) Paganini
[15:58] {dino} taking a few overnight long
[15:58] {jdetente} what are you taking Dino?
01[15:58] {&Threei}  what are you taking dino?
01[15:58] {&Threei}  oops
01[15:58] {&Threei}  lol
[15:59] {jdetente} hmmm
[15:59] {dino} some tol, dhi, alk, and c. all small
01[15:59] {&Threei}  wow
01[15:59] {&Threei}  brave... good luck :)
[15:59] {dino} -4%+ in day and half, gut says bounce. its managable
[16:00] {jdetente} small shares...not a bad idea
[16:00] {dino} will put in afterhours sells .50 up on each, in case of af pop

[16:03] {dino} gn all