Friday, September 6, 2013

Sept 06 2013

Nice end to the week, with somewhat of a roller-coaster day as market got roiled by morning numbers and Syria-related remarks. Still, squeezed out a few nice plays that overcame tight stops, and finished with nice 1:2  GLD long on last minutes. Good day to stay calm, disciplined and trade by the book.

Session Time: Fri Sep 06 00:00:00 2013

[09:00] {nemo} Bad News is good news Bull Market
[09:01] {nemo} actually spy is starting to set up short here, see if it holds the trend line
01[09:01] {&Threei}  initial reaction was sharp drop
01[09:01] {&Threei}  and gold sharp spike
01[09:02] {&Threei}  SPY recovered quickly
01[09:02] {&Threei}  gold started retreating slowly
[09:02] {nemo} .10 drop followed by .50 run higher, return to support, and grind up   -to be exact
01[09:02] {&Threei}  actually, much more than that
01[09:03] {&Threei}  tail disappeared now but it was way deeper
[09:03] {nemo} I'm talking SPY
01[09:03] {&Threei}  so am I
01[09:03] {&Threei}  you haven't watched it real time, you haven't seen it
[09:03] {nemo} that was stop hunt...amazing how you can break BBOs
[09:03] {nemo} yeah, I saw it
01[09:03] {&Threei}  then you know it wasn't 10 vcents
[09:03] {nemo} no
[09:03] {nemo} but that was orchestrated
01[09:03] {&Threei}  so you just want to be difficult
[09:04] {RonS} gm...welcome to the wrestling match...
01[09:04] {&Threei}  ron :)
[09:04] {nemo} no, but I see it enough to know it's a premarket manipulation to try and trigger stops
01[09:04] {&Threei}  wrestling? I just show my appreciation for nemo
01[09:04] {&Threei}  if he is not difficult, my world comes down crashing
[09:05] {nemo} comes crashing down
[09:05] {nemo} sheesh
[09:05] {nemo} get the idiom right
01[09:05] {&Threei}  see what I mean?
[09:05] {nemo} predictable-aren't I
01[09:05] {&Threei}  told you, I spoke Yoda before Yoda spoke Yoda
[09:06] {nemo} mmmhhhhh, bunny doing her roadrunner act
[09:06] {nemo} you been training traders for 900 years?
01[09:06] {&Threei}  I spoke Yoda before I was training traders
[09:07] {nemo} think the tribesmen are taking today off?
01[09:07] {&Threei}  who?
[09:07] {nemo} Jews
01[09:08] {&Threei}  I think so
[09:08] {nemo} another low volume day
01[09:09] {&Threei}  (SY) Russia Kremlin Aide: Obama and Putin spoke briefly on the sidelines of the G20 conference, however they are no closer on their mutual positions regarding Syria
01[09:09] {&Threei}  I can imagine that conversation
01[09:09] {&Threei}  O: umm, hi
01[09:10] {&Threei}  P: huh? oh, OK, hi
01[09:10] {&Threei}  O: so...
01[09:10] {&Threei}  P: I don't think so
01[09:10] {&Threei}  O: thought so
[09:10] {nemo} Yeah, bye the way Velody, Robert Kraft wanted me to ask about that Superbowl Ring
01[09:10] {&Threei}  P: see ya
[09:11] {RonS} O: how 'bout them Broncos?
[09:11] {RonS} P:  busted one last night...
01[09:11] {&Threei}  P: I disagree
[09:12] {nemo} Pains me to watch Wes Welker playing for another team
[09:12] {nemo} tough as they come
[09:12] {dino} lol nemo
[09:14] {nemo} man, when he first came to New England, his moves off the line left his coverage standing there with there thumbs up their asses
[09:14] {nemo} their
[09:15] {Will49} gm
01[09:15] {&Threei}  and this guy notices my errors?
01[09:15] {&Threei}  will :)
01[09:16] {&Threei}  people who use their/there/they're interchangeably should be taken out and shot
[09:17] {Will49} maybe this is the texting crowd in action
[09:17] {Will49} simplify everything
01[09:18] {&Threei}  u r 2 kind 2 nemo
[09:18] {Will49} not making excuses...just sayin'
[09:21] {nemo} I'm challenged homonystically
01[09:22] {&Threei}  not touching that one with 10 ft pole
01[09:22] {&Threei}  but lol
[09:23] {Will49} homo-nystically=challenged by same sex
[09:24] {robbers} The women must love that 10 ft. pole.
[09:24] {Will49} lol
[09:24] {RonS} lol
06[09:24] * &Threei is backing away slowly
[09:24] {nemo} homonym=similar sounding gutterbrains
[09:24] {Will49} you have to back away from a ten foot pole Vad
[09:24] {Alexs} gm
01[09:25] {&Threei}  alex :)
01[09:25] {&Threei}  missed great day yesterday
[09:25] {Alexs} (
01[09:25] {&Threei}  and we decided to make sure you let you know
01[09:25] {&Threei}  or with it, will
[09:25] {cipher} gm
01[09:25] {&Threei}  cipher :)
[09:26] {bbobr} gm
01[09:26] {&Threei}  bbobr :)
[09:27] {ese} morning
01[09:27] {&Threei}  ese :)
[09:28] {ese} ya know....the wall street journal is an interesting read in the morning......have never really done that
[09:28] {nemo} Would think you more of a Mother Jones or Utne kinda' guy
[09:28] {ese} lol
[09:28] {dino} lol
[09:29] {ese} touche
01[09:31] {&Threei} Short Setup: GDX  .95 break
01[09:31] {&Threei}  If holds  .05 
01[09:33] {&Threei}  Invalidated  
01[09:34] {&Threei} Short Setup: GDX  .28 break
01[09:34] {&Threei}  If holds  .10 
[09:35] {ese} out rax .42 +.38 out sdrl .11 +.11 held from yesterday
01[09:35] {&Threei}  wtg
[09:36] {ese} tks...good way to start the day
01[09:36] {&Threei}  1:1
[09:37] {dino} gj ese
[09:38] {+cc_9} good late morning
01[09:38] {&Threei}  cc9 :)
[09:40] {dino} coo drop
01[09:41] {&Threei} Long Setup:  C  .75 break
01[09:41] {&Threei}  Invalidated  
01[09:42] {&Threei} Long Setup:  C  .60 break
01[09:42] {&Threei}  If holds  .54 
01[09:43] {&Threei}  meh
[09:44] {ese} what the heck is the market unhappy about now.....spyders in free fall almost
[09:45] {dino} coo sm l .25
01[09:45] {&Threei} Long Setup:  JPM  .70 break
[09:45] {+cc_9} SPY, now that is fear
01[09:45] {&Threei}  If holds  .65 
[09:46] {nemo} Putin to back SYRIA in any attack
01[09:46] {&Threei}  meh
[09:46] {ese} ok ..... that should do it
01[09:46] {&Threei}  bottom is very close
01[09:47] {&Threei} Long Setup:  C  .10 break
01[09:47] {&Threei}  late
01[09:47] {&Threei}  (%#(&^
[09:48] {ese} nice call though
01[09:48] {&Threei}  (SY) Russia President Putin: Russia will help Syria if strikes are launched by the west; Russia is already providing Syria with arms
[09:49] {+cc_9} mean bounce IWM
01[09:49] {&Threei}  you should hear Putin's remarks in Russian...
[09:49] {dino} wouldn't help me
[09:49] {dino} i don't speak russian
01[09:50] {&Threei}  to say that he has very little respect for O and USA would be understatement of the century
01[09:50] {&Threei} Long Setup:  JPM  .60 break
01[09:50] {&Threei}  If holds  .50 
[09:50] {dino} i believe that. o has come off as the bleeding heart liberal
[09:50] {nemo} he's a tough SOB
[09:50] {fish_49} hold that thought Vad  hope you can translate  later
[09:53] {+cc_9}
[09:53] {nemo} financial porn?
[09:53] {+cc_9} Obama speaking, lets see how market reacts.
[09:54] {nemo} wouldn't think there's anything he can say right now other than maybe he let Vlady bend him over
01[09:55] {&Threei}  stop to .54
01[09:55] {&Threei}  1 cent to 1:1
[09:56] {drewj} Hello Vad
01[09:56] {&Threei}  hi drew
[09:57] {drewj} Been a while
[09:57] {+cc_9} I want to see a mean reversal on SPY
01[09:57] {&Threei}  welcome to the room
01[09:57] {&Threei}  here it goes, cc
01[09:57] {&Threei}  or not
[09:57] {drewj} thanks
01[09:58] {&Threei}  out JPM
01[09:58] {&Threei}  not delighted
[09:58] {drewj} can i change the settings so that I can hear a sound when you post something?
01[09:59] {&Threei}  if you use mirc, yes
01[09:59] {&Threei}  mibbit, no
[09:59] {+cc_9} SPY needs 165.50 bid and the algos start pushing
[09:59] {dino} conn more blood today
[10:00] {drewj} how can I log in with mirc?
[10:00] {+cc_9} IWM fresh lows, ahead of SPY
01[10:01] {&Threei}, scroll down to TRADING ROOM LOGIN, p.2
[10:03] {+cc_9} $2.00 dump on SPY since the start of this sell-off
[10:04] {nemo} nobody going long into the weekend after what Putin said, he gonna' make Barry his bitch
[10:04] {+cc_9} Getting long SPY here
[10:04] {+cc_9} 164.70
[10:04] {nemo} this is the weekly pivot
[10:05] {nemo} 164.67
[10:06] {+cc_9} So far so good
01[10:06] {&Threei}  (SY) US President Obama: Would prefer to work on the Syria issue with the security council but does not see that as likely at this time; most G20 nations agreed that Assad was responsible for the Aug 21 chemical attack- Will speak to the US public regarding Syria on Tuesday
01[10:06] {&Threei}  so, nothing happens till Wed
[10:06] {drewj} is mirc a desktop program?
[10:06] {nemo} yep
01[10:06] {&Threei} Long Setup:  C  .10 break
01[10:06] {&Threei}  If holds  49 
01[10:07] {&Threei}  yes
[10:07] {+cc_9} SPY through 165
[10:07] {+cc_9} So far so good.
01[10:07] {&Threei}  1:1
[10:08] {+cc_9} I don't think we see a 3rd leg down
[10:09] {+cc_9} i think we see slight consolidation here and a test of 165.50 again
[10:09] {drewj} where is it for download?
[10:09] {nemo} we only get to S4 10% of the time that's 164.39
01[10:09] {&Threei}  same p.2...
01[10:10] {&Threei}  1:2
[10:11] {+cc_9} Ok, ere comes the leg up 
01[10:11] {&Threei}  will try for 1:4
[10:11] {nemo} here's today's spy structure:
[10:12] {+cc_9} Out half SPY 165.15 +$0.45
[10:12] {+cc_9} Rest im thinking we see north of 165.50
[10:14] {ese} nice cc
06[10:14] * &Threei slaps cc_9 around a bit with a large roll of cash
[10:14] {+cc_9} lol :D
[10:15] {drewj} what is the channel name?
[10:15] {nemo} hey drew, relax for now intense action save it for quiet time
01[10:15] {&Threei}  ?
01[10:16] {&Threei}  just use cpnfigurator, it will do everything for you
01[10:16] {&Threei}  1:3
01[10:16] {&Threei}  finally nailed the bastard
[10:16] {+cc_9} BOOOOOOOOOOM
[10:16] {+cc_9} all out
[10:17] {+cc_9} Not gona play the sucker's wall game.
[10:18] {+cc_9} full blown reversal, man if we could only get these once a week
[10:18] {dino} htwr sm l .27 ave
[10:18] {nemo} here's 1 min spy:
[10:18] {dino} conn sm l .00 ave wide
[10:22] {nemo} wow, we're down a whole .52
[10:22] {dino} out conn .55 +.55
[10:22] {RonS} gj
[10:23] {dino} ty
01[10:24] {&Threei}  done with last piece of C
01[10:25] {&Threei}  JPM, missed beautiful kangaroo tail reversal woth .40 trigger
01[10:25] {&Threei}  same 1:3 as C
[10:26] {fish_49} and now the translation of what putin said?
[10:26] {nemo} called O a pisdah
01[10:26] {&Threei}  lol
[10:26] {+cc_9} There goes SPY } $165.50 :D
[10:27] {fish_49} as long as it was not the N word we are ok
[10:27] {ese} L rax .31
01[10:28] {&Threei}  hard to translate, really... derisive despise
01[10:28] {&Threei}  scornful
01[10:28] {&Threei}  with tongue in cheeck add-ons like:
[10:28] {RonS} schwartza?
01[10:28] {&Threei}  "how do I say it softly, not to say what I really think"
[10:28] {nemo} Schwarzer
[10:29] {nemo} Kannst du nicht Deutsch sprechen?
[10:29] {RonS} nope only Yiddish
[10:30] {nemo} gleichsprache, nur die aussprache sind verschieden
01[10:30] {&Threei}  he speaks very colloquially, so these things are not really easy to translate
01[10:31] {&Threei}  his characterization of Snowden a while ago for instance:
[10:31] {+cc_9} IWM dumped harder and bounced more than SPY
[10:31] {+cc_9} IWM hit its yesterday's closing price already.
01[10:31] {&Threei}  he is useless, it's like to sheer a piglet - a lot of squeal, not much wool
[10:32] {fish_49} hahaha
01[10:37] {&Threei} Short Setup: GLD  .10 break
01[10:37] {&Threei}  If holds  .20 
[10:39] {nemo} oil names strong
[10:39] {RonS} hommies too
01[10:41] {&Threei}  1:1
[10:41] {fish_49} out thanks Vad
01[10:41] {&Threei}  :)
01[10:42] {&Threei}  alex... how's fair share extraction going?
[10:42] {nemo} spy likely going back to 166.50 that's the 50 day
[10:42] {nemo} IWM 50 day at 102.32
[10:43] {nemo} bull market
[10:44] {Alexs} not as fast as I wish
[10:45] {dino} wwww spike
[10:45] {dino} out htwr .77, +.50
01[10:45] {&Threei}  1:2
01[10:45] {&Threei}  life brightens by minute
[10:45] {Alexs} better now
01[10:45] {&Threei}  :)
[10:46] {fish_49} Mr O done speaking
[10:46] {fish_49} market rallies
[10:46] {fish_49} market's rally
[10:47] {fish_49} the lady who was translating for putin needs some help.  Vad could have done better
[10:47] {fish_49} lol
[10:47] {nemo} not one red stock on the algo:
01[10:47] {&Threei}  Obama will delay appointing a new Fed chairman until Syria is resolved
01[10:48] {&Threei}  uh oh
[10:48] {+cc_9} boy oh boy...lookit SPY reversal
01[10:48] {&Threei}  Ben will never retire
[10:48] {dino} syria will not be resolved for years
[10:48] {nemo} 166.50 likely target
[10:48] {RonS} 800 year tenure...
[10:49] {dino} conn drop
01[10:49] {&Threei}  lol
[10:49] {dino} conn sm l .50
01[10:49] {&Threei}  Ben is having 7 years itch that he hoped to resolve by 7 years in Tibet
01[10:50] {&Threei}  might be a little while longer... by another 5 or so
[10:51] {dino} stop conn .20 -.30
[10:51] {fish_49} itching for 7 years?  That's a nasty rash
[10:51] {dino} xgti spike
01[10:55] {&Threei} Long Setup:  CAT  .30 break hl
01[10:55] {&Threei}  If holds  .20 
01[10:56] {&Threei}  1:1
[10:56] {fish_49} missed it
[10:56] {Will49} me too
01[10:57] {&Threei}  anyone caught it?
[10:58] {Alexs} :)
[10:58] {Alexs} how could i miss my fair share
01[10:58] {&Threei}  really
[10:59] {fish_49} Alex caught it?  good job
01[10:59] {&Threei}  now spread the wealth, will ya?
01[10:59] {&Threei}  1:2
[10:59] {fish_49} there should be a rule  Alex shares all profits
[11:00] {fish_49} rdistribute his wealth
[11:00] {Alexs} who is John Galt
[11:00] {fish_49} Dow back in positive territory
01[11:01] {&Threei}  1:3 close enough, over and out
[11:02] {dino} conn gap fill
[11:02] {dino} sm l .42
[11:04] {dino} out conn .75, +.32
[11:04] {ese} it's children and kids for christ sakes!!!!!!! Somebody needs to do frickin do something in Syria......end of friggin argument......forceful statement from a teacher!!!
[11:04] {+cc_9} SPY, i cannot look anymore
[11:04] {RonS} conn daily s3 at 52.70...hard to tell what those crazy texans are gonna do...
[11:04] {+cc_9} jesus christ was that an early exit
[11:05] {ese} who gives a crap  about the's kids
[11:05] {dino} ese its women and children w/terorists too
[11:05] {ese} had to turn cnbc off give me a break
[11:05] {dino} conn sm l .80
[11:06] {fish_49} Someone needs to ask her  "Who is the Somebody that needs to do something"?
[11:06] {RonS} ese off his meds...
[11:07] {ese} out RAX .72 +,41 on 1500shs......i'm done for the day
[11:07] {Will49} nice ese
[11:07] {fish_49} good job ese  
[11:07] {dino} gj
[11:07] {ese} well i can't do anything other than get peed off............
[11:07] {RonS} hemopilia bleeding heart run rampant
[11:07] {RonS} so ese?
[11:07] {Will49} ouch
[11:08] {ese} outta here cya monday.....
[11:08] {fish_49} bye ese
[11:08] {RonS} whare have you been fro the past 2 years?  started in '11...guns and bombs better killer than chems?
[11:09] {RonS} ese off to brainwash the children...
[11:09] {dino} hell you can shoot 100k and no issues
[11:11] {RonS} really don't get the distinction if you want to talk kids, etc...we would be in every freakin country in Africa...
[11:12] {Will49} if you need an excuse to go to war, what better than pic of dead kids lined up?
[11:12] {Will49} another Gulf of Tonkin in my view
[11:12] {RonS} you old or what?
[11:13] {Will49} or any of the other dozens of phoney excuses used by politicians over the eaons
[11:13] {Will49} older and hopefully less naive
[11:13] {dino} let the french deal w/it
[11:14] {Will49} i'm good with that :)
[11:14] {dino} conn stop -.30. hit/miss/hit/miss
[11:16] {dino} out coo .48, +2.23
[11:17] {RonS} wtg
[11:17] {Will49} whoa baby!
01[11:17] {&Threei}  wtg
[11:17] {dino} thx, got lucky
[11:18] {Will49} too bad only 100 shares, eh?
[11:18] {Will49} :)
[11:18] {dino} 400
[11:18] {Will49} nice morning congrats
[11:19] {RonS} been thinking you woulda been rolling w/ 500 by now dino...
[11:20] {RonS} on those low vol stocks you still do 400?
[11:21] {RonS} ...if so...gutsy...
[11:23] {dino} 300-400 on them, they are gappy traders, so look for bigger moves w.o rinses
[11:23] {nemo} gonna' start calling dino Kolchak stalking the Rorschach charts
[11:23] {dino} conn sm l .70
[11:25] {drewj} Hey Vad, I got the mirc client set up.
[11:26] {nemo} lucky us
01[11:26] {&Threei}  cool
[11:26] {dino} lol
[11:26] {Alexs} lol
[11:26] {RonS} ...the hazing begins...
[11:26] {nemo} I prefer slow execution
06[11:26] * dino slaps drewj around a bit with a large trout
01[11:27] {&Threei}  rite passage
01[11:27] {&Threei}  lol
[11:27] {+cc_9} I think its safe to say we're ending the week with a punch
[11:28] {nemo} I like getting behind and whacking the 7th cervical
[11:28] {nemo} drop like a stone
[11:28] {drewj} Thanks for the welcome guys...
01[11:29] {&Threei}  get used to it drew, it's only until next new guy appears :)
[11:29] {nemo} guess he doesn't read english
[11:29] {RonS} lol
[11:30] {drewj} I'm only being kind because you can hide behind your computer nemo
[11:30] {nemo} spy walking the 50 day
[11:30] {nemo} you want me to come visit?
[11:30] {drewj} no
[11:30] {nemo} we can trade together
[11:31] {nemo} your IP puts you in California, no?
[11:31] {drewj} do you come on to all the new traders this way?
[11:31] {nemo} I'm having my period
01[11:31] {&Threei}  he is unusualy kind today, drew
[11:31] {RonS} rotflol\
[11:31] {drewj} don't you feel a little emasculated talking like that?
[11:32] {nemo} nah, I've got bunny
[11:32] {Will49} thata boy drew
[11:32] {RonS} killin me...
[11:32] {nemo} c'mon guys, he's no Les
[11:32] {drewj} don't tell're into animals...
[11:32] {nemo} I'm developing my Yin side
[11:32] {nemo} only the ones I can hold down
[11:33] {Will49} go get em drew
[11:33] {drewj} to balance out your yang?
01[11:33] {&Threei}  does it involve any kind of removal?
01[11:33] {&Threei}  yang removal
[11:33] {nemo} now I'm confused
[11:33] {Will49} I'm behind you till your nose bleeds drew
[11:34] {bryl} gmorning
01[11:34] {&Threei}  hi bryl, welcome
[11:34] {nemo} oh jeez, more fresh meat?
01[11:34] {&Threei}  drew... you may have really lucked out
[11:34] {nemo} yeah, we got hair dressing
[11:34] {drewj} watch our bryl...nemo is balancing out his yang
[11:34] {nemo} spy going for the highs
[11:35] {Will49} brylcream, yeah
[11:35] {bryl} ha
[11:35] {nemo} showing our age
[11:35] {Will49} always
[11:35] {Will49} used it on my brushcut in the fifties
01[11:35] {&Threei}  oh boy... I am really scared to publish today's log
[11:35] {nemo} yeah, I'm already into the white hair
01[11:36] {&Threei}  afraid to think what types it may attract
[11:36] {nemo} so just edit it like you always do you communist
[11:36] {Will49} lol
01[11:36] {&Threei}  sigh
[11:36] {RonS} ...was stumbling around walgreens couple wekks ago...was shocked to see Vitalis on the shelf...
[11:36] {fish_49} Someone give Nemo his meds
01[11:37] {&Threei}  he spits them out
[11:37] {bryl} just make sure he doesnt drink the Vitalis
[11:37] {nemo} index shorrts here, but I think it might need one more cycle
[11:37] {Will49} you'll do well here bryl
01[11:37] {&Threei}  hey nemo... new guys are not taking it lying down:)
[11:37] {bryl} good   
[11:38] {nemo} only a matter of time
[11:38] {Will49} maybe one of the newbys is really Les incognito
[11:38] {nemo} everybody is a tough guy when they first step in the ring
01[11:38] {&Threei}  watching CAT for short into bounce
01[11:38] {&Threei}  ideally, if goes above .10
[11:38] {nemo} nah, Les resorts to ad hominem attacks by now
01[11:39] {&Threei}  short on .10 recrossd if stays under .20
[11:39] {Will49} good man Vad..get us focussed again
01[11:43] {&Threei}  no bounce
01[11:46] {&Threei}  - The August jobs report was mostly a bomb, although analysts are working hard to find the positives in the data. The non-farm measure missed expectations and the back-month revision to the July data was severe (to +104K from +162K).
01[11:46] {&Threei}  . PIMCO's Bill Gross said the Fed is still likely to taper despite today's data, perhaps on the order of $10B initially.
[11:47] {Will49} Bureau of BS
01[11:47] {&Threei}  - Syria is the other big subject this morning. With world leaders in St. Petersburg, Russia for the G20, Russia President Putin and Barak Obama have a big stage to air their opposing views of the situation. Just after the open, Putin stated that Russia would help Syria if strikes are launched by the west; later he clarified his remarks by saying Russia would merely continue its current level of support for Syria, but in any case many participants blamed the equity declines into negative territory on his remarks.
01[11:47] {&Threei}  President Obama dodged questions at a press conference about what he would do if Congress voted against military action, saying only that he would address the nation from the White House next Tuesday on the issue
01[11:47] {&Threei}  Obama?? Dodged question?? No way
[11:48] {Will49} he didn't have his teleprompter with him
01[11:56] {&Threei} Short Setup: LVS  .05 break
01[11:58] {&Threei}  If holds  .10 
[11:59] {nemo} .04 the pivot
01[11:59] {&Threei}  it's an aggressive entry for 59 break
01[11:59] {&Threei}  small stop
[12:00] {drewj} where is the stop?
[12:01] {Will49} .11
[12:01] {nemo} here's that next cycle short trigger on fas and spy
[12:02] {drewj} .11 on the bid or ask?
[12:02] {nemo} but spy basically oscillating around the 50 day here
01[12:02] {&Threei}  get out
01[12:03] {&Threei}  condition is: if holds .10. If .10 is broken, stop is hit
[12:03] {drewj} at either the bid or the ask?
01[12:03] {&Threei}  break of resistance means offer at .10 disappeared and prints go above it
[12:03] {drewj} so any print..
01[12:03] {&Threei}  while there is offer at .10, it's resistance
01[12:04] {&Threei}  when there is no more offer at .10, resistance is broken
[12:04] {drewj} ok
[12:04] {dino} conn stop -.35
[12:06] {Alexs} fb short 44?
01[12:07] {&Threei}  nah
[12:10] {drewj} how can i change the sound of a call?
03[12:14] * Looking up Threei user info...
01[12:14] {&Threei}  right click on my name - Ucentral-Highlight
03[12:14] * Looking up Threei user info...
01[12:15] {&Threei}  Edit
01[12:15] {&Threei}  Play Sound button
01[12:15] {&Threei}  and pick the sound which you want, navigating to the place on harddrive where it's located
[12:15] {drewj} got it. thanks 
[12:18] {fish_49} wow Vad very impressive
[12:18] {fish_49} now tell us how to filter out Nemo
[12:19] {nemo} yeah, I loaded a fart sound for Vad myself
[12:19] {nemo} right click on my name go to control}ignore
01[12:20] {&Threei}  before yolu do that, read this little poem nemo wrote
[12:20] {fish_49} huh  say again? Im ignoring u
01[12:20] {&Threei}
[12:21] {nemo} I'm not as think as you drunk I am
[12:21] {fish_49} lol
[12:23] {nemo} think I'll clean some guns
[12:24] {fish_49} Can you look down the barrel of mine and check if it's clean?
[12:24] {nemo} after I clear the chamber and disassemble it
[12:24] {fish_49} It should be clean because I cleaned it the last time I shot a rabbit
[12:25] {nemo} buckin' for Les' spot, huh...
[12:25] {fish_49} no  just filling in for him while he is away
[12:25] {fish_49} lool
[12:26] {nemo} actually, have to get the hunting hardware out
[12:26] {fish_49} what do youhunt?
[12:26] {fish_49} any Moose in your area?
[12:26] {nemo} I do get funny looks when I take the SPAs 12 in the field
[12:27] {nemo} can't hunt moose here but a few have been known to loiter about
[12:27] {fish_49} the only long rifle I have is an air pellet gun
[12:27] {nemo} almost hit one once
[12:27] {nemo} what caliber?
[12:28] {nemo} get one of those PCC rifles-can get a pretty big caliber
[12:28] {fish_49} I'm not sure  let me check
[12:28] {fish_49} 22
[12:29] {fish_49} I need to get it looked at  3 times  now misfired  and fired 20 seconds after pulled trigger  almost shot out a window
[12:29] {nemo} what kind?
[12:30] {fish_49} crossman
[12:30] {nemo} you oughta' get one of these:
[12:30] {fish_49} with a scope
[12:30] {nemo} do you know the model?
[12:31] {fish_49} that's expensive Vad,  I'm a cheap bastard
[12:31] {nemo} Lewis and Clark took an air rifle on their expedition
[12:31] {fish_49} c8m22np
[12:32] {nemo} nitrogen piston, huh?
[12:32] {fish_49} no
[12:32] {fish_49} just air
[12:32] {nemo} that's what the "np" stands for
[12:33] {nemo} it's actually a Benjamin-Crosman bought them a few years back
[12:33] {fish_49} oh then maybe
[12:33] {fish_49} I just cock it and shoot it  never pay attention to the mechanics
[12:33] {nemo} more than likely the trigger is gunked up, and the spring restricted
[12:33] {fish_49} when you come down to get the monitors  you can fix it
[12:33] {nemo} I would say just spray some brake kleen up in there, but I don't know how much is made out of plastic on these things anymore
[12:34] {fish_49} perhaps  all  since made in china
[12:34] {nemo} nitrogen is much quieter and consistent over a greater range of temperatures
[12:34] {nemo} you have the thumbhole version?
[12:34] {fish_49} I'm impressed with it's quietness and range
[12:34] {fish_49} not sure about the thumb hole
[12:35] {nemo} yeah, that's the nitrogen, then you get a nitrogen gun with a suppressor on it, fun
[12:35] {nemo} Having said that, a regular .22 with subsonics and a quart water bottle affixed to the end of the barrel works better
[12:36] {fish_49} I have thought about that but worried I would shoot a neighbor
[12:36] {fish_49} which might not be a bad idea
[12:36] {nemo} Have you tried various different pellets?
[12:36] {fish_49} Just the pellets that came with it  and a friend gave me some pointed pellets
[12:36] {nemo} that rifle will likely shoot one weight and design the best
[12:37] {fish_49} the pellets I use  to shoot the critters  are nothing special
[12:37] {nemo} I have a Diana-it likes german Kugeln's the best
[12:37] {fish_49} expensive?
[12:37] {nemo} the gun or the pellets?
[12:37] {fish_49} both
[12:38] {nemo} Well, I paid about $300 for the gun in 2002 and the pellets were a little more expensive, but nothing major, point is to find out what shoots best and stick with it
01[12:38] {&Threei} Short Setup: CAT  .80 breeak
01[12:38] {&Threei}  If holds  .90 
[12:39] {Alexs} hl?
01[12:40] {&Threei}  full for me
01[12:40] {&Threei}  take 2/3 if not sure
01[12:41] {&Threei}  action is slow enough for full lot, IMO
[12:41] {Alexs} never sure
01[12:41] {&Threei}  1:1
[12:41] {fish_49} take a full lot Alex and give half to charity
[12:41] {nemo} should go to .40 area
[12:43] {nemo} relative volume coming in iwm and spy
[12:43] {Alexs} hard to be progressive in that room
[12:44] {Alexs} can't share my fair share
[12:45] {nemo} spoken like a true Progressive
[12:45] {fish_49} agree with Nemo  should see .39 or .40
[12:46] {nemo} CAT high was it's 50 day
[12:47] {drewj} Vad do you take a break from the chat room for lunch?
[12:47] {Alexs} lol
[12:47] {nemo} no, he takes a break from us
[12:47] {nemo} more a vodka break
[12:48] {Alexs} he never stops lunch
01[12:48] {&Threei}  for the most part, no... sometimes, when I am extremely sleepy
[12:49] {nemo} not to be confused with consciousness
[12:49] {RonS} conn wants the S3...unreal...
[12:50] {drewj} k
[12:50] {RonS} what's weird is the miss was a short term collections proble...thing is...this is a 50 year old crdit will get fixed
[12:50] {RonS} credit
[12:50] {nemo} that looks destined for the 51.75 area area 
[12:51] {+cc_9} CONN daily trend shows 48-50 zone before possible reversal
[12:51] {+cc_9} for now knife
[12:52] {dino} at some point its a good bounce candidate, but where is the trick
[12:54] {nemo} potential support here, but I'm looking at that doji on 6/28
[12:57] {drewj} dino would you short that with small shares since it has been trending?
[12:59] {nemo} you're shorting in the hole down here and it's on the uptick rule, get the KY out and do some stretching
[12:59] {dino} nope
[12:59] {nemo} that's what I said
[12:59] {dino} i'm contrarian drewj. look for multi-point moves to go against
[13:00] {dino} nemo, thinking s3 or the big 50 magnet
[13:00] {nemo} This one has serious momentum, again that 6/28 doji might be it
[13:00] {drewj} got it
[13:01] {nemo} we're in it's range now
[13:02] {dino} ron, i'm w/your thinking, perhaps some 60 day out calls on it once she settles
[13:02] {drewj} how far back will you look for support?
[13:02] {nemo} 5/28
[13:02] {nemo} 6/28
[13:02] {nemo} look back as far as you have to
[13:02] {dino} i see those nemo
[13:02] {nemo} yeah
[13:03] {dino} after 1 year i don't bother drew
[13:03] {drewj} ok
[13:04] {dino} million ways to trade, find your edge
[13:04] {nemo} conn is easy, you have the hammer back on Jun 24th, which generally conicides with support going back to May, then you have the former resistance late may into early June, then that 1 doji on 6/28, which seems to be where it's found a bottom so far
[13:04] {fish_49} Fish shoots CAT with Pellet gun..  Die CAT  Die
[13:04] {nemo} which is basically the range CC defined
[13:07] {nemo} this might resistance to reshort NOW here
[13:10] {nemo} of course spy regains the 50
[13:10] {nemo} a .40 range since 11
[13:24] {nemo} you go to lunch yet Vad?
01[13:28] {&Threei}  nah
[13:28] {nemo} you go to the bottle yet?
01[13:32] {&Threei}  why would I need to go to it?
[13:32] {nemo} imprecision of language
01[13:33] {&Threei}  weird language yours is
[13:33] {fish_49} It's Friday  what more need do you reason
[13:33] {nemo} that, from the Ukranian yoda
[13:36] {nemo} subtle higher lows abound on the indexes
[13:36] {nemo} but I've got short setups forming again
[13:47] {nemo}
[13:48] {nemo} spy going for R#?
[13:48] {nemo} R3
[13:49] {nemo} unbelivable, going all the way below S3 and then back
[13:54] {dino} conn sm l .00
[13:56] {dino} no go
[13:57] {dino} maybe
[13:57] {dino} out .93 too high on entry -.07
[13:58] {nemo} classic short behaviour still
[13:58] {dino} higher lows/highs on the daily
[13:58] {nemo} daily?
[13:58] {dino} one day
[13:59] {dino} since 12:45
[13:59] {nemo} I see what you mean, but it can also be viewed as a bear flag, especially because it topped out at a critical moving average.  If it breaks above .40 maybe
[14:00] {dino} reload .00
[14:03] {nemo} keep it tight
[14:04] {nemo} gets above .50 and holds, 55.00 realistic
[14:04] {dino} vwap 55.20
[14:04] {nemo} yep
[14:05] {nemo} support is your entry though
[14:07] {nemo} drops that .10 she's a no good
[14:07] {dino} out .12
[14:08] {nemo} discretion is the better part of valor
[14:08] {dino} as they say, discipline trumps conviction
[14:09] {nemo} yep
[14:10] {dino} wtf
01[14:12] {&Threei} Long Setup:  CAT  84 break
01[14:12] {&Threei}  If holds  .90 
01[14:14] {&Threei}  change to .95 break
01[14:14] {&Threei}  tighter stop
[14:19] {dino} sm l .01
01[14:21] {&Threei}  meh
[14:31] {fish_49} Gonna Run  have a great weekend everyone
[14:31] {fish_49} Thanks Vad
[14:31] {fish_49} Still in my Corn Trade  Hope I never have to take delivery
01[14:32] {&Threei}  take care fish
[14:41] {RonS} so, was this rally off the lows...putin on the Ritz?
[14:41] {nemo} looks like pull intime
[14:41] {nemo} OMFG!
[14:42] {nemo} We're going to have to name an award after Ron
[14:42] {nemo} for the corniest line
[14:43] {drewj} Vad why did you call cat at .95 with so little room to the upside?
01[14:43] {&Threei}  dunno... I like it
01[14:43] {&Threei}  little room?
01[14:43] {&Threei}  why is it little?
01[14:43] {&Threei}  my target was .20
[14:44] {drewj} ok
[14:44] {drewj} but it failed to hit twenty the second time...
01[14:44] {&Threei}  what makes you think there was a little room, as it just pulled back from 84.20
[14:44] {drewj} isn't that more of a double top?
01[14:45] {&Threei}  ummm... sorry, are you judging the call AFTER the fact, already knowing how it developed?
[14:46] {dino} eli sm l .97
01[14:46] {&Threei}  having such benefit, you, I and anyone else can be 100% certain and 100% correct
[14:46] {drewj} so it was more of a range play then
01[14:46] {&Threei}  pullback entry
[14:47] {drewj} i get confused between pullback entries and reversals
01[14:47] {&Threei}  pullback is a retreat from the top withing an uptrend
01[14:48] {&Threei}  reversal is a change of a trend near the bottom
[14:48] {nemo} hey dino?
[14:48] {nemo} might get some short covering in conn coming up
[14:49] {drewj} it's not so much their definitions but how to go about exeuting them
01[14:50] {&Threei}  why don't you just follow the room calls for now... it takes time
[14:50] {dino} out meli .88, +.93
01[14:51] {&Threei}  wtg
[14:51] {dino} sorry that was meli
[14:51] {dino} not eli
[14:52] {RonS} had to go up then on the addition of a leter...thought you meant elli...
[14:52] {drewj} dino do you find that the larger the drop the larger the bounce?
[14:52] {nemo} you're thinking too much
[14:53] {drewj} how so?
[14:53] {nemo} just observe for awhile, and watch what happens
[14:53] {nemo} it can be big bounce, not big bounce, little bounce bigger fall
[14:53] {nemo} can depend on the news and the chart
[14:54] {dino} nothings ever the same drewj
[14:54] {nemo} It's like being married
[14:54] {dino} generally i will not buy a drop (or short a spike) unless i think it has .40+ potential
[14:55] {bbobr} not going to work with 'dead CAT "
[14:55] {drewj} so it's more about timing then
[14:55] {dino} but yuo are new here, so do not trade my picks until you get comfortable and find your edge
[14:56] {dino} everything in life is about timing
[14:56] {drewj} that's why i asked.  you seem to be doing something different.
[14:56] {nemo} not true dino...marriage is ignorance
[14:56] {dino} my "edge". most do not see it
[14:57] {dino} find what works for you (not what works for me...or somebody else)
[14:57] {drewj} i've had a lot more success in practice following the /es
[14:58] {dino} my advice, do what works for you and forget everybody else. there are lots of ways to trade
[14:58] {nemo} then what are you doing here?
[14:59] {drewj} learning from vad
[15:00] {drewj} i said in paper trades were good.
[15:00] {nemo} my point is, if the es speaks to you, that's where you should be.  A friend of mine sucked at equity trading, but could trade futures real well, that's where he is
[15:00] {dino} w/respect, but paper trades are always good
[15:00] {dino} nemo speaks what i am saying...find "your" edge
[15:01] {nemo} yep
[15:01] {nemo} I see some of Vad's trades, but not all of them
[15:01] {drewj} actually what has been working for me on paper is to follow the es and the broader market and actually trade tna and tza
[15:01] {nemo} Dino...frickin trades like a ...a...a...I have no idea, but I've watched him do it for 5 years, and every once in a while we converge
[15:01] {dino} then work that w/money. start small...
[15:02] {dino} cipher sees what i see
[15:03] {nemo} well, that's good then the es is related to the indexes iwm=tna/tza  spy=sso/sds  iyf=fas/faz gdx=nugt/dust
[15:04] {Alexs} what is es guys?
[15:04] {drewj} i think that it's because i can go away from the computer and come back and still pick up on what's going on.
[15:04] {nemo} imo, write down your questions, don't ask them.  Take a screen shot of the stock in question, then after the market closes take your screen shot along with longer time frame charts, and see if you can come up with an answer
[15:04] {drewj} es=spy futures
[15:05] {nemo} right, but remember the discussion dino, I and CC9 were having about conn?
[15:05] {Alexs} thanks drewj
[15:05] {nemo} You have to be fluent in the language and that comes from screentime when the market closes
[15:06] {drewj} is that like a self quiz nemo?  to see if i can teach myself or something?
[15:06] {nemo} I cannot tell you how many hours I've spent outside of market hours looking at charts
[15:06] {nemo} Yes, you can't be given a fish, you have to fish
[15:07] {nemo} there's no subtitute for it
[15:07] {nemo} You know who Branford Marsalis is?
[15:07] {drewj} musician right
[15:08] {nemo} yep...and he said "structure is art"
[15:08] {nemo} You have to learn the abc's and wrestle with them yourself to eventually become an artist, to find your edge
[15:08] {drewj} you're saying to learn the structure from reading charts after the market is over.
[15:08] {nemo} You have to learn the structures before your intuition starts speaking to you
[15:09] {nemo} charts, candles, structures, volume, whatever instruments speak to you
[15:09] {drewj} well the es sure does...i'm going to start there
[15:09] {nemo} Frankly, the questions you ask confuse you.
[15:10] {bbobr} Vad, would you short CAT now ?]
[15:10] {nemo} Spend time with structure
[15:10] {drewj} that was funny nemo...
[15:10] {+cc_9} HFC if anyone wants something to watch EOD
[15:11] {dino} don't overthink things. stocks trade, thats what they do, however somethimes they trade odd
[15:11] {nemo} 43.50 traget?
[15:11] {drewj} ok
[15:11] {drewj} i've got to go get my kids from school.  have a good weekend all
01[15:12] {&Threei}  .80 break was valid setup
[15:12] {dino} no reason for it, it just happens. remember this; "anything can happen". ask ask yourself this; "what di i believe that isn't true?"
[15:13] {bbobr} yes i took it
[15:13] {drewj} i'll think about that over the weekend.
[15:13] {nemo} btw...questions are confusing...learning to ask the right questions is a big deal
01[15:13] {&Threei}  very nice bbobr
01[15:14] {&Threei}  starting seeing them :)
[15:14] {bbobr} thanks
[15:14] {dino} conn lod
[15:14] {nemo} spy topped out at daily R3 to the penny
[15:14] {drewj} i'm betting that i really need to take a step toward trading independance
[15:14] {bbobr} how about gdx short /
[15:15] {drewj} thanks guys
[15:15] {dino} np & gl
[15:15] {drewj} bye
01[15:15] {&Threei}  GDX, no
01[15:15] {&Threei}  take care drew
[15:15] {nemo} yeah, already back to the middle
[15:18] {dino} conn sm l .05
[15:19] {dino} stop is brk lod
[15:19] {nemo} it's smack in the middle of that doji
[15:23] {dino} out conn .37, +.32
01[15:26] {&Threei} Short Setup: FB  44 break
01[15:26] {&Threei}  If holds  .10 
01[15:29] {&Threei}  Invalidated  
01[15:30] {&Threei} Long Setup:  GLD  .05 break
01[15:30] {&Threei}  If holds  134 
01[15:33] {&Threei}  1:1
01[15:34] {&Threei}  1:2 close enough
01[15:34] {&Threei}  stop .09
[15:34] {goinshort} nice T !!!
01[15:35] {&Threei}  good finish
01[15:35] {&Threei}  like to leave for the weekend on a good note
[15:39] {Alexs} you still keep hl Vad?
01[15:39] {&Threei}  1/4
01[15:39] {&Threei}  dumped 1/4 more at .23
[15:40] {Alexs} k
01[15:46] {&Threei}  well GLD
01[15:46] {&Threei}  give us final spike
01[15:47] {&Threei}  stop to .14
[15:49] {nemo} sheesh, spy back to pivot/vwap
[15:49] {nemo} frickin' conspiracy
[15:50] {Alexs} c short .30?
[15:51] {nemo} don't think spy or finnies are going anywhere now, probably not
[15:51] {Alexs} k
01[15:51] {&Threei}  too close to eod alex
01[15:51] {&Threei}  9 min
[15:51] {dino} pamt drop
[15:51] {dino} sm l .05
[15:51] {Alexs} yeah ok
[15:55] {nemo} too funny daily pivot and vwap exactly the same place on spy
01[15:55] {&Threei}  ok guys
01[15:55] {&Threei}  good week after all, even though short
01[15:55] {&Threei}  thank you all
01[15:55] {&Threei}  have a great weekend, see you Monday
[15:55] {dino} out pamt .04 -.01, no time left
[15:56] {bbobr} gn all
[15:57] {nemo} from green to red below S3 all the way back to R3 back to
[15:58] {nemo} you ever seen a day like this dino?
[15:59] {nemo} look at conn on the close
[16:00] {dino} not that i remember nemo
[16:00] {dino} but markets get stranger every year
[16:01] {dino} bad print?
[16:01] {nemo} yeah, news reading algo's seem to create more extreme trends