Monday, September 16, 2013

Sept 16 2013

Not very active but profitable day, mostly set by a few morning trades. FOMC decision being main dish this week puts some restraints on market activity.

Session Time: Mon Sep 16 00:00:00 2013
[07:57] {nemo} Everybody, go back to bed....
[09:12] {nemo} Go back to the shadow!
[09:12] {nemo} broke my frickin' toe...
01[09:12] {&Threei}  who did youi kick?
[09:13] {nemo} ha ha
[09:14] {+cc_9} gm
[09:14] {RonS} gm
[09:14] {drewj} gm
01[09:15] {&Threei}  cc9, ron, drew :)
[09:16] {+cc_9} it took a while, but i think the market's AAPL fever has been cured.
[09:16] {nemo} if it gets any better for aapl they'll call the undertaker
01[09:17] {&Threei}  so has consumer's it seems
[09:17] {nemo} Fed week too, this is gonna' get boring fast
[09:18] {+cc_9} GDX looking good on 60min
[09:18] {Will49} gm
01[09:18] {&Threei}  will :)
01[09:18] {&Threei}  GDX... ABX story will matter I believe
[09:19] {ese} gm
01[09:19] {&Threei}  ese :)
01[09:21] {&Threei}  actually I am amazed ABX is up
[09:21] {jdetente} morning all
01[09:21] {&Threei}  jd :)
[09:22] {+cc_9} WiseSage1313 Sep. 12 at 10:48 AM $ABX Commodity Prices are due to drop fast! Gold is going to $600-900 an ounce and will stay that price for a decade.
[09:22] {nemo} kinda like will's...nevermind
[09:22] {fish_49} gm all
01[09:23] {&Threei}  fish :)
[09:23] {nemo} joe
[09:23] {fish_49} toad
[09:23] {nemo} now that's an interesting word association
01[09:23] {&Threei}  don't say toad with cc9 around
[09:23] {fish_49} oh I forgot
[09:23] {fish_49} nemotoad
[09:24] {+cc_9} ill let it slide bc kinda early
[09:24] {fish_49} actual spelling nematode
[09:24] {fish_49} just thinking of a nematode everytime I see Nemo
[09:24] {cipher} gm
01[09:25] {&Threei}  with Summers out and Yellen being all but set, this week's FOMC decision will be especially interesting
01[09:25] {&Threei}  cipher :)
[09:25] {+cc_9} BTH daily, now that's a helluva chart
[09:26] {bbobr} gm
01[09:27] {&Threei}  bbobr :)
[09:28] {Alexs} gm
01[09:28] {&Threei}  alex :)
[09:29] {+cc_9} GDX
01[09:29] {&Threei} Short Setup: GLD  .40 break hl
01[09:29] {&Threei}  If holds  .50
01[09:31] {&Threei}  1:1
[09:33] {+cc_9} GDX new session highs
01[09:33] {&Threei} Short Setup: ABX  .10 break
01[09:33] {&Threei}  If holds  .15
01[09:34] {&Threei}  meh
01[09:35] {&Threei} Long Setup:  C  51 break
[09:35] {ese} out crus swing trade from last thursday .44 +.51 2400 big ones
01[09:36] {&Threei}  If holds  .90
01[09:36] {&Threei}  wtg
[09:36] {ese} ya...good way to start the week
[09:37] {fish_49} great work Ese
[09:37] {fish_49} share with Alex
[09:37] {ese} tks
[09:37] {Alexs} tks
01[09:38] {&Threei}  Invalidated
[09:38] {robbers} Good call on GLD.
01[09:38] {&Threei}  you still in?
[09:39] {robbers} Nope.
[09:40] {robbers} You know me better than that, LOL.
01[09:40] {&Threei}  :)
01[09:40] {&Threei}  can't forgive myself not shorting C at 51.20
[09:40] {nemo} get the banana, cut your wrists
[09:41] {Alexs} can't forgive you it Vad
01[09:41] {&Threei} Long Setup:  C  .85 break
01[09:41] {&Threei}  If holds  .75
01[09:41] {&Threei}  give me another chance alex...
01[09:41] {&Threei}  I'll try to earn your forgiveness
[09:42] {nemo} frickin' svena madka
[09:42] {nemo} or bettter yet, hytraya zhopa
01[09:43] {&Threei}  let's trail stop to .79
[09:44] {fish_49} cc has a pm
01[09:45] {&Threei}  decisive moment for C
01[09:45] {&Threei}  1:1
[09:45] {fish_49} I have a terrible record trading C  so I stay away from it
[09:45] {fish_49} did not take that trade
01[09:45] {&Threei}  works rather well for us lately
[09:46] {fish_49} only because I didn't  take the trade
[09:46] {fish_49} pay me later
[09:46] {fish_49} lol
01[09:47] {&Threei} Short Setup: GDX  .90 break
01[09:47] {&Threei}  If holds  .95
[09:48] {robbers} Thanks, C.
01[09:48] {&Threei}  yw
01[09:48] {&Threei}  out in full
[09:48] {jdetente} yes very nice. thanks
01[09:48] {&Threei}  almost 1:3
01[09:49] {&Threei}  1:3
[09:49] {fish_49} rub it in
[09:49] {jdetente} almost??
01[09:49] {&Threei}  don't you ever doubt that, we will
[09:49] {jdetente} out at .17
[09:49] {nemo} horshoes
[09:49] {nemo} vad got a leaner
[09:49] {drewj} lvs short?
01[09:49] {&Threei}  not alnost jd... mised triggers :)
01[09:49] {&Threei}  GDX 1:1
[09:50] {jdetente} well that's ok I missed GDX so you got me on that one hehe
01[09:51] {&Threei}  lol
01[09:53] {&Threei}  1:2
01[09:54] {&Threei}  OK, we are back to those candy/baby way
01[09:54] {&Threei}  nemo's favorite
[09:54] {nemo} actually, I like practicing sucker punches at school's for the blind
[09:54] {Will49} lol
[09:57] {RonS} odfl getting hit
01[09:57] {&Threei}  ODFL Guides Q3 tonnage per day to increase in a range of 7.0% to 7.5% y/y (6-6.5% prior expectations
[09:58] {fish_49} Out GLD  thanks Vad
01[09:58] {&Threei}  - Now expects revenue per hundredweight, excluding fuel surcharges, to increase in a range of 3.0% to 3.5% for the third quarter of 2013 from the third quarter of 2012, compared with the previous expected range of 4.0% to 4.5%.
[09:58] {Will49} tks Vad
01[09:58] {&Threei}  yw
01[09:58] {&Threei}  GDX you mean
[09:58] {Will49} y
[09:58] {fish_49} gld
[09:59] {fish_49} I took 1:1  and stopped out on the remainder
01[10:01] {&Threei} Short Setup: ABX  .30 break
01[10:01] {&Threei}  If holds  .38
01[10:01] {&Threei}  Invalidated
[10:06] {RonS} saw another Tesla yest...somehow the design is already looking old to me
[10:07] {nemo} you're projecting
01[10:07] {&Threei}  I got a chance to look at one and sit in it two weeks ago
01[10:07] {&Threei}  weird design out of sci fi movie
01[10:08] {&Threei}  looks cool on a first glance, gets annoying in 1 min
[10:08] {fish_49} comfy?
01[10:08] {&Threei}  yes
01[10:08] {&Threei}  but feels foreign
01[10:08] {&Threei}  I didn't connect with it
01[10:09] {&Threei} Long Setup:  TZA  .70 break
01[10:09] {&Threei}  If holds  .60
01[10:14] {&Threei}  Invalidated
01[10:20] {&Threei}  (US) Senate Finance Committee Chair Baucus (D-MT): Prospects of passing a tax overhaul plan this year are quite good, Congress sees political benefits in getting this done
01[10:20] {&Threei}  what about financial benefit?
[10:20] {fish_49} lol
[10:20] {fish_49} why would that matter to them? The only thing they think about is Elections
[10:21] {drewj} gs breakout possiblle?
[10:21] {nemo} sheesh...had to go down and break up a battle between my father and bunny
[10:21] {drewj} possible?
[10:21] {nemo} it's a scene right out of a comedy
[10:22] {nemo} 80 year old man ready to swing a broom at this little rabbit standing in front of him
[10:22] {fish_49} father wanted to BBQ the bunny?
[10:22] {nemo} damn near pissed my pants
01[10:22] {&Threei}  well, GC trigger would have to be .20
[10:22] {nemo} made me think of Search for The Holy Grail
01[10:22] {&Threei}  stop is a bit too wide for my taste
[10:22] {drewj} or z breakout...
01[10:22] {&Threei}  GS that was
01[10:23] {&Threei}  Z??
01[10:23] {&Threei}  you see level 2?
[10:23] {drewj} zillow consolidation at the high
01[10:23] {&Threei}  look at level 2
[10:23] {drewj} saw it.
[10:23] {drewj} no go
01[10:23] {&Threei}  you consider it tradable?
[10:24] {drewj} not now.  hadn't looked at level 2 yet
01[10:30] {&Threei} Long Setup:  CAT  88 break
01[10:30] {&Threei}  If holds  .90
[10:34] {nemo} P looks short here
01[10:37] {&Threei}  stop to .94
01[10:37] {&Threei}  1 cent from 1:1
01[10:48] {&Threei}  1:1
01[10:48] {&Threei}  took its sweet time
01[10:48] {&Threei}  but whatever
[10:48] {fish_49} half out  holding other half for .23
01[10:49] {&Threei}  dino's back tomorrow, right?
[10:49] {nemo} Wednesday I thought
01[10:49] {&Threei}  just in time for Wed FOMC
01[10:55] {&Threei}  (US) Former Fed Vice Chair Kohn: Would be a good idea to have a separate organization look out for financial risks; easy monetary policy creates potentially dangerous risks- Financial oversight can be used to build resilience in the system as opposed to preventing major crises **NOTE: Kohn seen as a potential Fed Chairman nominee after Summers stepped aside
01[10:56] {&Threei}  oh come on, Yellen is already measuring curtains and picks color
01[10:56] {&Threei}  bbobr, look private message pls
[11:01] {bbobr} where ?
01[11:01] {&Threei}  upper bar, where you see names of the channels (discussions, floor),
[11:01] {nemo} I'll be nice
01[11:01] {&Threei}  there is another one with my nick
01[11:02] {&Threei}  click on it and read and type there
[11:02] {fish_49} who are the shooters in DC Navy Yard
[11:02] {fish_49} Ground stop at DCA airoport
[11:03] {fish_49} out CAT  thanks Vad
01[11:03] {&Threei}  yw
[11:03] {bbobr} got it
[11:04] {nemo} I thought they had strict gun control laws in DC
[11:04] {fish_49} yes  for the honest people
[11:04] {Will49} out CAT but hate it
[11:04] {nemo} Can you believe that, somebody would actually break the law
01[11:04] {&Threei}  ???
01[11:05] {&Threei}  no
01[11:05] {&Threei}  say it ain't so
[11:05] {nemo} you're a LEO fish?
01[11:05] {&Threei}  my world is coming down crashing
[11:05] {fish_49} yes
[11:05] {fish_49} why Vad?  Ban on Vodka?
[11:05] {nemo} I live in the Peoples Republic of Massachusetts, home of the Masshole
01[11:05] {&Threei}  11:04] {nemo} Can you believe that, somebody would actually break the law
[11:05] {nemo} I sell politically incorrect merchandise part-time
[11:06] {nemo} was talking to a guy from the gang squad in Boston awhile back
01[11:06] {&Threei}  I say politically incorrect words full time
[11:06] {fish_49} that's a shitty job  always chasing bullets
[11:06] {nemo} They see a known gang-banger walking down the street with a gun case, not a violin case, a gun case
[11:06] {fish_49} was he wearing a hoodie?
[11:06] {nemo} So they decide they should take a look.
[11:07] {nemo} Guy had either a converted mac-10 or uzi
[11:07] {nemo} so that's a Federal Offense
[11:07] {nemo} Then he has 3 30 round clips on him
[11:07] {nemo} That's a big no-no here
[11:07] {nemo} Of course, you can guess what happened?
[11:07] {fish_49} no
[11:07] {fish_49} tell us
[11:08] {nemo} Judge throws it out
[11:08] {fish_49} no PC
[11:08] {fish_49} ?
[11:08] {nemo} tells the cops they had no reason to think there was a gun in the gun case
[11:08] {fish_49} yea  no PC
01[11:08] {&Threei}  really
[11:08] {nemo} yep
01[11:08] {&Threei}  what were they thinking
01[11:08] {&Threei}  next thing you know they assume there should be a coffee in a coffee cup
[11:08] {fish_49} It's a Progressive  nation Vad
[11:08] {fish_49} lol
[11:08] {nemo} so carrying a gun case is not reason enough
[11:09] {nemo} got another one for ya"
01[11:09] {&Threei}  Summers Departure Sparks Global Equity Rally
01[11:09] {&Threei}  lol
[11:09] {nemo} Guy burglarizes a house.
01[11:09] {&Threei}  man had to feel really special
[11:09] {fish_49} lol
[11:09] {nemo} Tries to come in through the skylight above the kitchen
[11:09] {nemo} Falls through lands on a knife on the kitchen island
[11:09] {nemo} sues the homeowners
[11:09] {nemo} wins
[11:10] {nemo} that's Massachusetts
[11:10] {nemo} you can't even leave a knife out on your own countertop when you're not home in case a guy trying to burglarize your house hurts himself
01[11:11] {&Threei}  in good ole USSR people would leave vodka bottle with rat poison on the table in their garden cottage
01[11:11] {&Threei}  for thieves who would be breaking in during the winter
[11:11] {fish_49} lol
[11:14] {Alexs} I can't get it nemo, how the knife should stand on the kitchen island that the guy fell on it
[11:14] {nemo} me neither
[11:15] {nemo} maybe it was in of those woodblock holders
01[11:15] {&Threei}  even in those knife still stands ppointed end down
[11:15] {nemo} yeah, but perhaps it broke creating some type of spring effect
01[11:15] {&Threei}  wait... maybe he hurt himself by the handle?
01[11:16] {&Threei}  falling butt first...
[11:16] {nemo} whatever, can you imagine either of those guys getting away with that in texas?
01[11:16] {&Threei}  one of those case, you know... "one in million chance, doctor"?
[11:16] {nemo} First guy judge would have thrown in prison for being an idiot and getting what he deserved
[11:21] {fish_49} people fall on things all the time
[11:22] {nemo} Yeah, it's also amazing how hard someone can hit another guys fist with his face
[11:22] {robbers} Yeah, I once fell on my girlfriend.
[11:22] {nemo} I once fell and missed the ground
[11:22] {nemo} now that was a hangover
[11:22] {robbers} LOL
[11:23] {fish_49} About 30 years ago when I was on patrol I pulled over a guy and his wife  I suspected of drunk driving
[11:23] {fish_49} It's never what you suspect
[11:23] {jdetente} I can guess what was going on
[11:23] {jdetente} lol
[11:23] {fish_49} I asked the guy why he was crossing the centerline and why he was sitting strange
[11:23] {nemo} the old head bob?
[11:23] {jdetente} that would be my guess
[11:24] {fish_49} He said  Sorry Sir  I'm on my way to the hospital  I fell on my wife's Vibrator and I cant get it out
[11:24] {jdetente} Ahahahaha
[11:24] {nemo} Oh got a story
[11:24] {nemo} Buddy of mine was an ER doctor
[11:24] {nemo} Guy comes in with his vibrator stuck up his ass
[11:25] {nemo} So, the wise ass that he was he asks the guy, "So, you want me to get that out, or change the batteries?"
01[11:25] {&Threei}  Million to one shot doc.. Million to one
[11:25] {jdetente} Fusili Jerry
[11:25] {fish_49} lol
[11:25] {fish_49} lol
01[11:25] {&Threei}  you got it :)
[11:25] {jdetente}
01[11:26] {&Threei}
[11:31] {+cc_9} OME, that's quite a range. Shortable but only watching for now. These type of plays can gap
[11:31] {nemo} europe closed
01[11:33] {&Threei}  in full?
01[11:33] {&Threei}  for everyone?
01[11:33] {&Threei}  can they get out?
[11:34] {Alexs} lol
[11:34] {nemo} bored, huh?
01[11:34] {&Threei}  just remembered ancuient soviet joke
[11:34] {+cc_9} OMER* sorry.
[11:34] {nemo} omerta?
01[11:35] {&Threei}  kid runs into the house, screams to his grandfather: You heard?? Communists flew to the space!!
01[11:35] {&Threei}  Grandfather: all of them? Forever?
[11:37] {fish_49} lol
01[11:42] {&Threei} Short Setup: GDX  .50 break
01[11:42] {&Threei}  If holds  .55
[11:43] {ese} am outta here cya tomorrow.....was not feeling well and am not doing much
01[11:44] {&Threei}  take care ese
[11:45] {nemo} try some midol ese
01[11:47] {&Threei}  Invalidated
[12:03] {nemo} wonder if the shooter will end up being a Muslim
[12:05] {fish_49} that is what my original thought was
[12:05] {jdetente} if he is it will be classified as workplace violence
[12:05] {nemo} of course
01[12:05] {&Threei}  which it is... he worked in USA, right?
[12:05] {fish_49} there are two shooters
[12:05] {nemo} whoa, that's likely then
[12:06] {fish_49} they will know  soon,  one shooter dead already
[12:06] {nemo} I sometimes go to this Popeyes, the Pakastinis that own it make sure to tell me they're not terrorists...I wonder why they say that to me?
[12:07] {fish_49} fear
[12:07] {nemo} I mean, I'm a laid back, affable, mellow casper-milquetoast kinda' guy
[12:08] {fish_49} Tall Black man
[12:08] {nemo} named Malik
[12:09] {nemo} Hey fish, remember the Aurora shooting?  I was told he cased three different theaters and chose that one because it forbid firearms on the premises
[12:09] {fish_49} friggin nut
[12:10] {nemo} yeah, can you believe he didn't obey the rules
[12:10] {nemo} I always get a kick out of exclusion zones, you create a fish-in-a-barrel environment
[12:10] {fish_49} lol  why does it have to be a fish?
[12:11] {nemo} o.k. people in a building
01[12:11] {&Threei}  let it be toad
[12:11] {nemo} sheep in a barrel doesn't work
[12:12] {nemo} no rabbits
[12:12] {nemo} that's a given
01[12:12] {&Threei}  toad in a barrel
[12:12] {nemo} Les in a barrel?
[12:12] {fish_49} ur faster than me Vad
[12:12] {fish_49} I was typing that in a chart menu
[12:12] {fish_49} lol
[12:12] {nemo} Les down the barrel?
[12:13] {fish_49} When is Les due to come back?
01[12:14] {&Threei}  Oct, per last exchange
[12:14] {nemo} when the lobotomy heals
[12:14] {nemo} He can't sit down yet
[12:14] {fish_49} Ahh  I will be away most of October..  I wont be here  to welcome him back.
[12:15] {nemo} where u goin'?
[12:15] {fish_49} Korea
[12:15] {nemo} North?
[12:15] {fish_49} Mother In Law 80th Birthday
[12:15] {nemo} ahhh
[12:15] {fish_49} South of Course
[12:15] {nemo} bummer
[12:15] {fish_49} I'm not friends with Rodman
[12:15] {fish_49} lol
[12:15] {nemo} well at least somebody finds your jokes funny-you
[12:15] {nemo} I'm such a dick
[12:16] {fish_49} Agree
[12:16] {nemo} Of course, takes one to know one
[12:16] {nemo} you walked into that
[12:16] {fish_49} no.  Will told me
[12:16] {nemo} weak
[12:16] {nemo} very weak
[12:17] {fish_49} wow  Nice lunchtime push
[12:17] {nemo} yeah, change the subject
[12:17] {nemo} been grinding up since 11
[12:18] {fish_49} Still want CAT to hit .23 so Im not a liar today
[12:18] {nemo} why should today be any different?
[12:18] {fish_49} just because
01[12:28] {&Threei} Short Setup: GDX  .80 break
01[12:28] {&Threei}  If holds  .85
01[12:54] {&Threei} Short Setup: SLW  .55 break
01[12:55] {&Threei}  If holds  .60
01[12:57] {&Threei}  How do you know if your best friend is a real friend? Show up at his door with dead body over your shoulder and see if he just grabs a shovel without asking a single question
[12:58] {fish_49} my friend would do that only if it were his wife on my sholder
01[12:58] {&Threei}  now let's wait for nemo to connect back
[12:58] {Alexs} nice fish
[12:59] {fish_49} Vad,  If I knocked on your door with a dead Nemo on my sholder would you start digging?
01[12:59] {&Threei} Short Setup: WMT  .85 break
01[12:59] {&Threei}  If holds  .90
01[12:59] {&Threei}  I'd start drinking
[13:15] {Will49} haha Vad...just saw that!
01[13:15] {&Threei}  which one?
[13:15] {Will49} drinking
01[13:15] {&Threei}  oh
01[13:16] {&Threei}  will... you saw ese just excusing himself, right?
01[13:16] {&Threei}  now, look at this, 20 min later:
[13:16] {Will49} yeah
01[13:16] {&Threei}  7-Eleven at Tillicum and Carey in Saanich robbed for fourth time
01[13:16] {&Threei}  he works overtime, don't you think
[13:17] {Will49} ahah !
[13:17] {Will49} the masked musician strikes again
[13:17] {fish_49} bad day trading  so he needed  to make up income?
01[13:17] {&Threei}  bad day?
[13:17] {fish_49} he said good day
[13:17] {fish_49} so no need to Rob the store
01[13:17] {&Threei}  [09:35] {ese} out crus swing trade from last thursday .44 +.51 2400 big ones
[13:17] {fish_49} its  a cover up
01[13:18] {&Threei}  I suspect he just enjoys it...
[13:18] {fish_49} recreation
[13:18] {fish_49} lol
01[13:18] {&Threei}  teacher by day, musician by night, robber inbetween
[13:18] {Will49} :)
[13:19] {fish_49} don't forget the weed
[13:19] {fish_49} or was that Will arrested for the weed?
01[13:19] {&Threei}  and trading room - oh, this is just where he comes to brag
[13:19] {Will49} who me?
01[13:19] {&Threei}  never mind will, that was while you were on vacation :)
[13:19] {Will49} right
[13:19] {fish_49} yea  I forgot when but I recall you missing one day Will
01[13:20] {&Threei}  you didn't think we wouldn't insult you in your absence, did you
[13:20] {Will49} nooooooo
[13:20] {Will49} just nemo
01[13:20] {&Threei}  well... it's contagious
[13:20] {Will49} I read the blog every day just to keep an eye on him
[13:21] {drewj} please tell me that's a joke will
[13:21] {Will49} that's a JOKE
01[13:21] {&Threei}  Les told me he feels he becomes strangely and inconveniently polite while lacking communication with nemo
[13:21] {Will49} :)
[13:21] {fish_49} hahahahaa
[13:22] {Will49} how ya doin' drew?
01[13:22] {&Threei}  says he misses the room for that reason alone
01[13:22] {&Threei}  trading profit is add-on
[13:22] {drewj} ok...trying to get the hang of this day trading thing
[13:23] {drewj} that's true vad.
[13:23] {Will49} hang is a good term
[13:23] {drewj} sometimes i'm more into joking around than trading!
01[13:23] {&Threei}  so drew... followed today's trades?
[13:23] {drewj} i did.
[13:23] {Will49} you and the whole room sometimes
01[13:23] {&Threei}  worked out for you?
[13:23] {drewj} I'm still making a lot of rookie mistakes.
[13:24] {drewj} But I kick myself for them.
01[13:24] {&Threei}  well, keep in mind that we sometimes take things for granted
01[13:24] {&Threei}  if some call is not too clear, ask
[13:24] {+cc_9} OMER, nonstop geez
[13:24] {drewj} The general concepts are starting to become more clear in my mind
01[13:24] {&Threei}  or instructions on how to handle it
01[13:25] {&Threei}  we have thios SOP that has been repeated so many times, we just don't comment on uit
01[13:25] {&Threei}  k hits 1:1, everyone knows what to do
01[13:25] {&Threei}  I just say "1:1" instead of whole instruction
[13:25] {drewj} i get that.  I don't need to ask about that one too much.  It makes sense and is protective the way it's designed.
01[13:26] {&Threei}  korreqt
[13:26] {drewj} My nerves are subsiding.  Nervous clicking is expensive.
01[13:26] {&Threei}  if you see more detailed instruction, like:
01[13:26] {&Threei}  trail stop to xxx,
01[13:26] {&Threei}  this is deviation from SOP caused by some factor
01[13:26] {&Threei}  no comments, SOP is in effect
[13:26] {drewj} I dropped a bunch this morning on FB trying to sell but clicking buy
01[13:27] {&Threei}  why did you play FB at all?
[13:27] {drewj} price movement is starting to make more sense altogether.
[13:27] {drewj} Is nemo here?
[13:27] {drewj} NO?
[13:27] {drewj} Well i did it because i'm a retard
01[13:27] {&Threei}  oh
[13:28] {drewj} oh? so do you agree?
[13:28] {drewj} jk
01[13:29] {&Threei}  I just take it as an information supplied by you
01[13:29] {&Threei}  {GGG}
01[13:29] {&Threei}  btw, confusing buy and sell is not an unusual at the beginning
01[13:29] {&Threei}  many did that
[13:29] {drewj} i know.
[13:30] {drewj} well...on wmt I want to trail my stop to break even.
[13:30] {drewj} is that smarter
[13:30] {drewj} ?
[13:31] {drewj} it just keeps ticking higher
01[13:31] {&Threei}  if you are in solid profit as you should be per room trades, I wouldn't
01[13:31] {&Threei}  if not, maybe a good idea
[13:31] {fish_49} are you short WMT?
[13:31] {drewj} yes
[13:31] {drewj} i've been in the red most days.
01[13:31] {&Threei}  fish..
01[13:31] {&Threei}  12:59] {&Threei} Short Setup: WMT .85 break
01[13:31] {&Threei}  [12:59] {&Threei} If holds .90
01[13:31] {&Threei}  drew...
01[13:32] {&Threei}  stop doing your own trades
[13:32] {drewj} i have rarely done my own.
[13:32] {fish_49} Yes  I see it Vad  I did not take that trade
01[13:32] {&Threei}  everything has its time and place
[13:32] {Will49} and that's an oredr
[13:32] {drewj} that was probably the second or third one since i started.
01[13:32] {&Threei}  how can you be down if you only do what I call I don't understand
[13:32] {drewj} not sure.
[13:33] {fish_49} Drew Sit on hands when your thinking of jumping in your own trades  for now
[13:33] {drewj} will do.
[13:33] {drewj} i need to get into the black each day.
01[13:33] {&Threei}  so focus on this
01[13:33] {&Threei}  and find out what causes red when room calls are solidly in black
01[13:34] {&Threei}  you are not following SOP correctly then
[13:34] {drewj} i'll go back over my trades tonight.  I'll let you know what i find.
[13:36] {drewj} many things have been mixups.
[13:37] {fish_49} I had same issues when I started Drew  What I found to help was just follow the trades
[13:37] {drewj} so before a trade triggers 1;1 the stop is the original stop then.  so right now stop on wmt is .90?
01[13:37] {&Threei}  .91
[13:38] {fish_49} don't beat yourself up  just recognize the issues and fix them b4 you blow up your account
[13:38] {drewj} .91 seems so far up at this point.  why stay in if it is just ticking higher?
01[13:39] {&Threei}  far?
01[13:39] {&Threei}  it's 5 cents
[13:39] {drewj} Thanks fish.
01[13:39] {&Threei}  stops don't get any tighter than this
[13:40] {drewj} i got in at .84 so that's 7 cents
01[13:40] {&Threei}  yes
01[13:40] {&Threei}  that changes thing greatly
01[13:40] {&Threei}  things
01[13:40] {&Threei}  come on
[13:40] {drewj} i always feel like my stop outs are larger than my gains.
01[13:40] {&Threei}  we get 1:3ers regularly
01[13:40] {&Threei}  how can that be?
01[13:41] {&Threei}  you are trading a system now has been honed and tested for over a decade
01[13:41] {&Threei}  have some faith, will you?
[13:41] {fish_49} 3 cents slippage is that because of speed or was it broker slippage?
[13:41] {drewj} i'm only using 200 shares at a time.  I can't get to 1:3.  I have to get out at 1:2
[13:41] {drewj} maybe that's the problem.
01[13:41] {&Threei}  so use 300
01[13:41] {&Threei}  or 400
[13:42] {drewj} what should i do at 1:1 with 300
01[13:42] {&Threei}  it's frikin 5 vcents stop
[13:42] {drewj} ?
01[13:42] {&Threei}  ok, 7
01[13:42] {&Threei}  WMT 1:1
[13:42] {drewj} not complaining vad
[13:42] {drewj} I'm not complaining...just not competent
01[13:43] {&Threei}  notice that you would be out right now at .86 if you did what you felt like doing
01[13:43] {&Threei}  insteasd you can start taking prodit
01[13:44] {&Threei}  13:38] {drewj} .91 seems so far up at this point. why stay in if it is just ticking higher?
01[13:44] {&Threei}  this is wrong
[13:44] {drewj} ok why?
01[13:44] {&Threei}  any tick between meaningful levels is just a noise
01[13:44] {&Threei}  support and rtesistance matter
01[13:44] {&Threei}  and what stock does between them
01[13:44] {&Threei}  why would you want to take or exit position on any accidental tick?
01[13:45] {&Threei}  sorry this should read:
01[13:45] {&Threei}  and what stock does around them
01[13:45] {&Threei}  .90 is resistance
01[13:45] {&Threei}  .85 becomes resiostance when stock reaches 1:1
01[13:46] {&Threei}  or at least touched very close to it
[13:46] {drewj} i guess I can't read S/R well yet.
[13:46] {drewj} i'm on the edge of my seat tick by tick.
01[13:46] {&Threei}  don't read them,
[13:46] {drewj} so what is resistance on wmt right now?
01[13:47] {&Threei}  follow those I ouline in my calls
01[13:47] {&Threei}  let's crawl before walk and walk before run
01[13:47] {&Threei}  nobody expects you to analyze vhart structure just yet
01[13:47] {&Threei}  chart
01[13:47] {&Threei}  now it's .85
01[13:47] {&Threei}  you covered half of your position and trailed stop to .86
01[13:48] {&Threei}  again, notice that even though stop was 5, first target is 10
[13:48] {drewj} ok
01[13:48] {&Threei}  how yourr stoped can be larger than your profits, I can't see - unless you just don't follow SOP
01[13:49] {&Threei}  stops
[13:49] {RonS} Due to an OPRA issue(s) the CBOE  C 2 NYSE AMEX ISE and Gemini Haltedg Trading as of 12:40 ct RT @nanexllc: OPRA just came back
[13:49] {RonS} There will be (or should be) alert prior to options exchanges retarting RT @nanexllc: OPRA only back for about 20 seconds - down again
01[13:50] {&Threei}  (US) White House reiterates that President Obama will make the Fed chair appointment in the fall months, no change in planned timing of nomination after Summers withdrawal
[13:51] {fish_49} he was scheduled to speak on tv  today?
01[13:52] {&Threei}  he did
[13:52] {fish_49} wow  I missed it
[13:52] {fish_49} lol
01[13:53] {&Threei}  how very unpatriotic of you
[13:53] {fish_49} Options Markets Halted
[13:53] {fish_49} Drew have you sold half of your position on WMT?
[13:54] {drewj} so if i use 400 shares it's 200 out at 1:1, other 100 at 1:2 and last 100 on 1:3?
[13:54] {fish_49} yea you got it
[13:54] {drewj} Yes fish.  but I only have 100 more to go.
01[13:54] {&Threei}  so what
01[13:54] {&Threei}  follow the procedure
01[13:54] {&Threei}  it's training wheels size,
01[13:55] {&Threei}  but you train by doing what you are going to do with larger size
[13:55] {drewj} i have to keep  that in mind
[13:56] {fish_49} so Drew where is your stop for the remaining shares?
[13:56] {drewj} .85
[13:57] {drewj} good question...that's what i need
[13:57] {drewj} am i right?
[13:57] {fish_49} Look up  and see what Vad said
[13:57] {nemo} not in this universe
[13:57] {fish_49} I think he said .86
01[13:58] {&Threei}  .85 is resistance
01[13:58] {&Threei}  break of it triggers your stop
01[13:58] {&Threei}  so .86 is a stop
[13:58] {fish_49} so the sell trigger should be .86 and your out
01[13:58] {&Threei}  korreqt
01[13:59] {&Threei}  drew, let's agree on this:
[13:59] {fish_49} Drew  .86 is the better place to put your stop  .85 is resistance  so it could come to .85 again and stop you out b4 falling
[14:00] {fish_49} so if it breaks resistance at .85 then you know the trade is going the other way
[14:00] {fish_49} does that make sense?
[14:00] {drewj} yes
01[14:00] {&Threei}  if room ends the day profitable and you are in red, this is not something you just dismiss and come back tomorrow making the same mistakes; you look into what you did wrong and correct that
[14:00] {fish_49} so if u see your chart you could draw a resistance line at .85  you will see price hit it 3 times and reversed
[14:00] {drewj} agreed
[14:00] {drewj} i see it fish
[14:02] {Will49} something that helps me is to draw s and r lines plus entry price line
[14:02] {Will49} easier for me to watch the candles go up and down between lines
[14:03] {fish_49} so if it drops from here then we have resistance at .80 and if you were nervous  you could move stop to .81  but it might be wise  to wait  and or ask vad his opinion on moving stop to .81.  Look below and see there is no real resistance until gap fill..  Will we make it to gap fill?  not sure but at this point the odds are in your favor because your in the m
[14:03] {fish_49} oney
01[14:04] {&Threei}  I'd say if it approaches .70 from here, trail to .81
01[14:04] {&Threei}  to protect from double bottom
[14:04] {drewj} i was just about to ask
01[14:05] {&Threei}  for now it's still .86
01[14:05] {&Threei}  slowly developing trade, ideal for real time discussion
[14:05] {drewj} that's actually what i really need.
01[14:05] {&Threei}  let's me offer you somewhat unusual advice drew
[14:05] {drewj} shoot
01[14:06] {&Threei}  for a nearest while, stop thinking
01[14:06] {&Threei}  just follow as close as possible
01[14:06] {&Threei}  what it's going to do fir you is:
01[14:07] {&Threei}  1. relief from incessant overthinking things for which you don't have enough knowledge yet, and tend to think (and do) wrong things as a result
01[14:07] {&Threei}  2. give you a chance to calm down and control your emotions, much like soldier who stops question orders and just follows them
01[14:07] {&Threei}  and 3, and most important
[14:08] {fish_49} make money
01[14:08] {&Threei}  give you a chance to become profitable, sensing that it's doable
01[14:08] {&Threei}  and further calming down
01[14:09] {&Threei}  when you are over that threshold, we will get back to that potentially harmful thing people call thinking
01[14:09] {&Threei}  otherwise you just overwhelm yourself by endless questions that don't help much
01[14:09] {&Threei}  I'd put it this way: at this stagr you don't know yet what questions to ask :)
[14:11] {drewj} agreed
[14:11] {drewj} thanks guys
01[14:11] {&Threei}  np
[14:12] {jdetente} I've been in your shoes Drew.
[14:12] {Will49} amen
[14:12] {jdetente} Once you stop thinking, it will work wonders
01[14:12] {&Threei}  give us a chance, we will make non-thinking profitable trader with ice in your veins out of you
[14:12] {Alexs} feeling myself in a church
01[14:13] {&Threei}  each and every one of us has been in your shoes
01[14:13] {&Threei}  even alex
[14:13] {drewj} i was thinking of cobra kai
01[14:13] {&Threei}  it is Alex,
[14:13] {nemo} oh jeez
01[14:13] {&Threei}  called Church of Opinionless Trading
[14:13] {Will49} amen
[14:13] {Alexs} lol
01[14:13] {&Threei}  lol
01[14:14] {&Threei}  one of questions I often get in e-mails:
[14:14] {Will49} what church do you attend?
01[14:14] {&Threei}  I see you going long and short on the same stock in one day; don't you have an opinion on the stock and its duirection?
01[14:14] {&Threei}  I tend to answer those with one word: No.
01[14:15] {&Threei}  if a sender is a bit more polite and shows intelligence in his questions,
01[14:16] {&Threei}  I may ask him how does following his opinion work for him
[14:16] {fish_49} sorry for my rude question Vad  I didn't know you would share it in the room
01[14:16] {&Threei}  if he is honest, answer is usually" not very well, lol
01[14:16] {&Threei}  that's fine fish, in a min we will be done with this and turn on nemo
[14:17] {drewj} get him
[14:17] {fish_49} I was going there
[14:17] {Will49} oh no!
01[14:17] {&Threei}  so nemo
[14:17] {nemo} wait...
01[14:17] {&Threei}  why didn't you open the door when a rang about an hour ago?
[14:17] {nemo} O.K finished loading magazines
[14:17] {nemo} I was meditating
[14:17] {fish_49} Vad don't know the direction of the stock,  for direction he relies on Nemo  which means we are still directionless
01[14:17] {&Threei}  no, this is what this was about:
[14:17] {Will49} lol
01[14:17] {&Threei}  [12:57] {&Threei} How do you know if your best friend is a real friend? Show up at his door with dead body over your shoulder and see if he just grabs a shovel without asking a single question
01[14:18] {&Threei}  and you just decided not to open the door at all??
[14:18] {nemo} ahhh, yep
[14:18] {nemo} Doing the deed, no problem...getting rid of the body, always a problem
01[14:18] {&Threei}  not even curiosity whose body that was?
[14:19] {nemo} o.k. I'll bite, whose body?
[14:19] {Will49} wasn't it somebody's wife?
01[14:20] {&Threei}  too late... you should have helped dig
[14:20] {nemo} fine
[14:20] {nemo} nevermind
[14:20] {Will49} last time we'll bring a body to you
01[14:20] {&Threei}  lol
[14:22] {Will49} sheeesh...this must be the longest trade we've been in yet
[14:22] {Will49} only seems like it to me
[14:22] {Will49} cause I' used to bail early on everything:)
[14:22] {fish_49} you mean WMT  Will?
[14:23] {nemo} what about your marriage?
[14:23] {Will49} got religion now though
[14:23] {nemo} talk about losing trades
[14:23] {Will49} only bailed on one of my three marriages
[14:23] {drewj} ha
[14:23] {nemo} freedom for matrimonial slavery
[14:23] {RonS} lol
[14:23] {Will49} one win. one loss and one still in the trade
[14:24] {nemo} I knew a guy had been divorced three times says to me, "Every 6 or 7 years I should just find some bitch that hates me and buy her a house."
[14:24] {Will49} hahaha
[14:25] {Will49} btw..the religious reference was to trading, not marriage
[14:25] {fish_49} I'm on my forth marriage
[14:25] {fish_49} the first wife died of a broken neck
[14:25] {nemo} yeah, you start talking about churches I start visualizing Vad with altar boys
[14:25] {fish_49} who would have thought the second wife died of a broken neck also
[14:25] {Will49} that's the way it till you get it right
[14:26] {nemo} worst cast of suicide I ever did see
[14:26] {fish_49} I blew that
[14:26] {fish_49} I was wrong
[14:26] {Will49} careful Fish...NSA is on to you
[14:26] {nemo} you must be a goverment employee
[14:26] {fish_49} first wife died from eating mushrooms
[14:26] {fish_49} 2nd wife dies of eating mushrooms also
[14:27] {nemo} what is this, a Clint Eastwood movie
[14:27] {fish_49} 3rd wife died of broken neck  she wouldn't eat the mushrooms
[14:27] {nemo} ?
[14:27] {Will49} LOL
[14:27] {nemo} cute
[14:27] {RonS} lol
[14:34] {nemo} have we had a "SoMG" moment today?
[14:34] {Will49} only when you returned
01[14:35] {&Threei}  ROFL!
[14:35] {nemo} not bad
01[14:35] {&Threei}  will... round of applause
[14:35] {nemo} I wouldn't give it a ROFL
[14:35] {Will49} will takes a bow
01[14:35] {&Threei}  come on, consider reaction time
[14:35] {nemo} oh jeez, are we gonna' have a "give everybody a trophy" moment?
01[14:35] {&Threei}  hat was as instantenous as they go
[14:35] {fish_49} ok fill us rookies in  what is SoMG
01[14:36] {&Threei}  son of a motherless goat - applied to stocks that rinse us, copurtesy of jd
[14:36] {fish_49} ohhhhh
[14:36] {nemo} yeah, we don't want to pry as to why though
01[14:37] {&Threei}  one of the molst hienous actions is to tag our stop, then proceed to our target
01[14:37] {&Threei}  which is what we reflect in SoMG designation
[14:37] {nemo} heinous is your spelling
01[14:38] {&Threei}  no, that's atrocious
[14:38] {nemo} ok....
[14:38] {nemo} heinously atrocious
01[14:38] {&Threei}  right
01[14:38] {&Threei}  I can work with that
[14:45] {Will49} SPY is just slip slidin' away
[14:46] {nemo} o.k. Paul
[14:46] {+cc_9} OMER finally a fade
[14:46] {Will49} tks nemo...knew I could count on you
[14:47] {nemo} 7.73 support
[14:48] {nemo} Kodak stopped making the film a coupla' years ago
[14:48] {nemo} indexes look long here
[14:49] {Will49} will quakes in fear and wants to lower stop to .82
[14:49] {Will49} it's a JOKE
[14:50] {Will49} really want to lower it to .81
01[14:53] {&Threei}  on what?
[14:54] {Will49} can't even remember what trade we're in:)
[14:54] {fish_49} wallyworld
01[14:54] {&Threei}  it touched .71
01[14:55] {&Threei}  by al;l means, trail to .81
[14:55] {fish_49} Drew you catch that?
[14:58] {drewj} trail stop? yes
[14:58] {drewj} thanks
[14:58] {nemo} fish, man you gotta' change that nick, I love James Gang music, but I can't get it out of my head
[14:58] {fish_49} Easy to change name?
[14:59] {fish_49} I was thinking of a new name  perhaps Nemo2?
[14:59] {nemo}'s like having Bohemian Rhapsody playing on every station, and I've only got one station
[14:59] {fish_49} Vad can you change my name to NemoWannabe?
[14:59] {nemo} works for me, you'll have to ask everybody else if two of us is too much
[15:00] {nemo} which sets up...
[15:00] {Will49} don't need to even ask
[15:00] {fish_49} Nemo  what was the song?
[15:01] {nemo} Funk49
[15:02] {fish_49} Didn't the Eagles sing that song in Vancouver?
[15:02] {nemo} they sang it here when I saw them in August
[15:02] {nemo} they did 3 or 4 Joe songs
[15:03] {nemo} Funk49, In the City, and Life's been Good, might have been another
[15:03] {nemo} dude was a crazy bastard on tour...had a PhD in destroying hotel rooms
[15:04] {nemo} would bring a chain saw on tour with him
[15:04] {nemo} cut right through the walls
[15:04] {nemo} ebay vad
01[15:04] {&Threei}  .45 break?
[15:04] {nemo} looks it
01[15:05] {&Threei}  yup, tempting
[15:05] {nemo} gotta' watch the indexes here
[15:08] {fish_49} your out of WMT  right Drew?
[15:09] {nemo} droobie droobie drew, where are you?
[15:09] {nemo} ebay weak on index rise
[15:09] {fish_49} so to my calculation you made 5 cents on that trade
01[15:11] {&Threei}  hmm?
[15:12] {fish_49} he got in late
[15:12] {fish_49} .84
[15:15] {+cc_9} JPM to pay $750M in files in relation to the London Whale trade.
[15:16] {fish_49} slap on wrist for them
01[15:17] {&Threei}  I am not sure I understand what they are paying for
[15:17] {fish_49} how much did they make on the LW trade?
[15:17] {fish_49} paying to make the issue go away?
01[15:17] {&Threei}  they made an error and lost mney?
01[15:18] {&Threei}  good, what else do they need to pay?
[15:18] {fish_49} they need to buy lunch for Alex
[15:18] {fish_49} then we can forget about it
01[15:18] {&Threei}  that's a given
01[15:19] {&Threei}  but 750 mln lunch, no progressive can eat it
[15:19] {fish_49} It depends
[15:19] {fish_49} Fish in Japan is expensive
[15:19] {fish_49} Tuna sells for a premium there
[15:19] {nemo} one of the shooters identified as from Texas
[15:20] {fish_49} any news on why  or affiliation?
[15:20] {RonS} ...had a brand on his ass?
[15:21] {nemo} nah
[15:21] {nemo} is name was Alexis
[15:22] {+cc_9} fish_49 how much did they make on the LW trade?
[15:22] {+cc_9} they lost $6B on that trade.
[15:22] {nemo}
[15:22] {fish_49} so why pay? if they had inside information would they have lost?
[15:22] {fish_49} was it an inside information case?
[15:22] {+cc_9} Because part of being a bank is being able to assess risk
[15:22] {+cc_9} that loss was made by one trader
[15:23] {fish_49} Nemo?
[15:23] {+cc_9} no 1 person can lose $6B for a bank...otherwise, something aint working right
[15:23] {+cc_9} nemo, its Dorner part 2
[15:26] {nemo} whose asking what?
[15:26] {nemo} who's
01[15:26] {&Threei}  I still fon't get it
01[15:27] {&Threei}  they didn't do their risk control rigtht
01[15:27] {&Threei}  they lost 6B
01[15:27] {&Threei}  they are punished by market
[15:27] {fish_49} forget that  lets  give nemo hard time for his English mistake
01[15:27] {&Threei}  what do regulators have to do with it?
[15:27] {+cc_9} also, don't forget the toad part
[15:27] {nemo} yeah, it was an obscure thinly traded derivative
01[15:28] {&Threei}  how long from that to a private trader paying fine for a losung trade?
01[15:28] {&Threei}  oh, you missed a stop and lost more than you should have? part of your job as a trader is proper risk control, pay fine
[15:29] {+cc_9} "part of your job as a bank is proper risk control, pay fine"
[15:29] {+cc_9} fixed that for you
[15:30] {nemo} wow, still only 83 mil. spy traded
[15:30] {nemo} tlt coughed up a furball
01[15:30] {&Threei}  well, unless there was some part of it that I am missing, it's wrong
[15:31] {fish_49} trader pay fine  get fired,  company pay fine?  The government protecting us?
[15:38] {nemo} spy going down like a good girl
[15:40] {+cc_9}
[15:40] {+cc_9} scroll down to Trades
[15:45] {fish_49} The Financial Times "Alphaville" analysis suggests that these positions were not volatile enough to account for the full losses reported.[23] They suggest that other positions are likely involved as well.[
[15:45] {fish_49} so they think JPM hiding other losses?
[15:45] {nemo} it was aliens
[15:48] {nemo} frickin' toe is throbbing now...sheesh
[15:48] {fish_49} what did you do to toe?
[15:48] {fish_49} should we call a tow truck?
[15:48] {nemo} broke it, it was an arthritic toe already
[15:49] {fish_49} no meds?
[15:49] {nemo} yeah 1.75 litres of JD
[15:49] {drewj} thanks all.
[15:50] {fish_49} DREWWWWWWWWW
[15:50] {drewj} have a good evening
[15:50] {fish_49} you made money right?
[15:50] {drewj} later not really
[15:50] {drewj} i will start fresh tomorrow
[15:50] {fish_49} if you have time  re read the room and compare to charts
[15:50] {fish_49} that might help
[15:50] {fish_49} have a good night Bro
[15:51] {drewj} i have to look over my mistakes...try to see where i am messing up.
[15:51] {drewj} you too.
[15:51] {nemo} gonna' start singing kumbaya now...sheesh
[15:51] {drewj} all this positivity is going to make nemo melt
[15:51] {fish_49} Drew  we can blame Vad  he should only bring us 5:1 trades
[15:52] {drewj} if all else fails blame the boss
[15:52] {nemo} yeah, he's gotta' step up his game
[15:52] {nemo} it's his fair share
[15:52] {nemo} right Alex
[15:52] {nemo} commie bastid
[15:52] {Alexs} :)
[15:53] {fish_49} Vad left the room  he is out taking pics
[15:53] {Will49} cheers boys :)
[15:53] {fish_49} late Will
[15:53] {fish_49} take care all
[15:53] {fish_49} Thanks Vad
01[15:56] {&Threei}  thank you all
01[15:56] {&Threei}  have a good evening
01[15:56] {&Threei}  see you tomorrow
[15:56] {nemo} thanks for the fish
[15:57] {nemo} I'll brink you some I caught near Fukishima tomorrow
[15:57] {bbobr} gn all