Showing posts with label Greece. Show all posts
Showing posts with label Greece. Show all posts

Thursday, September 15, 2011

Sep 15 2011

Pretty much repetition of yesterday.


Session Time: Thu Sep 15 00:00:00 2011
[08:30] {Threei}  ow'
[08:31] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 428K V 411KE; CONTINUING CLAIMS: 3.726M V 3.71ME
[08:31] {Threei}  - Prior Initial Claims revised higher from 414K to 417K
[08:31] {Threei}  - Prior Continuing Claims revised higher from 3.717M to 3.738M
[08:31] {Threei}  August CPI: 0.4% vs. 0.2% est. Core CPI: 0.2% vs. 02.% est. Up 3.8% YoY
[08:32] {Threei}  *(US) SEPT EMPIRE MANUFACTURING: -8.8 V -4.00E
[09:00] {nemo} now what
[09:01] {nemo} ECB ANNOUNCES DOLLAR LIQUIDITY MEASURES IN COOPERATION WITH FED
[09:01] {Threei}  ECB, SNB, BoJ and BoE to lauch coordinated repo operations
[09:01] {nemo} QEIII QEIV QEV QEVI
[09:02] {nemo} more liquidity for a debt problem
[09:09] {Threei}  so they are determined to save the world at the moment at the expense of screwing over all the serfs
[09:09] {Threei}  what else is new, and what else is surpriding
[09:09] {Threei}  d=s
[09:13] {dino} gm all
[09:13] {Threei}  dino :)
[09:16] {RonS} gm...eur/$ cross at 1.3915
[09:17] {Threei}  Ron :)
[09:17] {nemo} if we get above 121.2 and hold 122.50 next level
[09:19] {Threei}  FXC looks to me like best short candidate for the first trade
[09:19] {Threei}  well, aside of SLW of course, lol
[09:26] {Threei}  can we hope for .40 - .50 FCX range?
[09:27] {larisa} gm :)
[09:27] {Threei}  and .40 break as atrigger for a 30 cents quick plunge
[09:27] {Threei}  larisa :)
[09:27] {larisa} vad :)
[09:27] {Threei}  let's keep it to half lot
[09:27] {Threei}  and don't chase anything
[09:27] {Threei}  these are volatile times
[09:29] {Threei}  4.1 Earthquake hits off Vancover Island
[09:30] {RonS} db +9%
[09:30] {Threei}  well, if at some point I disappear, you know it's a bigger quake... so from that moment on start your day by shorting SLW, profiting and drinking for me
[09:30] {Threei}  FCX
[09:31] {Threei}  how about this vlatility
[09:31] {Threei} Short Setup: FCX  .50 break half lot
[09:32] {Threei}  stop above .60 and .65, scalpers and day traders respectively
[09:32] {Threei}  1:1 for each
[09:32] {Threei}  1:2
[09:32] {Threei}  little beaut
[09:32] {Threei}  out in full.15
[09:32] {nemo} not doing opens
[09:33] {dino} gj
[09:33] {dino} nor i nemo
[09:33] {Threei}  this one was perfect, taking advantage of volatility
[09:33] {nemo} yeah, but, if you get stopped out in volatility it's usually a double stop
[09:33] {Threei}  but hakf lot
[09:34] {nemo} I understand, just a bigger hole to dig out of
[09:34] {Threei}  half lot, same hole
[09:35] {Threei} Short Setup: SLW  .10 break
[09:35] {Threei}  disregard
[09:35] {Threei}  still too spready
[09:38] {Threei} Long Setup:  X  .60 break
[09:39] {nemo} or short under .50?
[09:39] {Threei}  not for me
[09:39] {Threei}  invalidation of long, yes
[09:39] {Threei}  short, no
[09:41] {RonS} hearing obama on tv at around 1030 edt
[09:41] {Threei} Short Setup: FCX  .90 break
[09:42] {nemo} yeah, not a question of if he's gonna be on, just what time
[09:42] {Threei}  lol
[09:43] {Threei}  no go
[09:43] {nemo} took .01 long
[09:43] {nemo} 1/2
[09:44] {nemo} what chop
[09:45] {nemo} out under BE
[09:45] {nemo} DF me, was thinking tna .50 break
[09:46] {nemo} out
[09:47] {nemo} op ex?
[09:47] {dino} y
[09:48] {Threei} Long Setup:  X  .50 break
[09:48] {nemo} .50 level
[09:48] {nemo} on X
[09:50] {Threei}  stop is obvious
[09:50] {Threei}  target .75
[09:50] {Threei}  two partials
[09:50] {Threei}  unless you are a scalper in which case you need my guidance like fish - umbrella
[09:51] {nemo} what was that chick's comment ...a woman needs a man like a fish needs a bicycle?
[09:51] {nemo} Oh yeah, Gloria Steinem
[09:54] {_roger99} is the stop .40 on X  ?
[09:54] {Threei}  just under
[09:54] {_roger99} ok
[09:54] {nemo} philly fed at 10, that might be what's going on here
[09:55] {Threei}  I feel it should be good to neutral
[09:55] {nemo} I'm out until the number
[09:56] {nemo} oil up on falling demand, think that has anything to do with the new World QE program?
[09:56] {Threei}  very liekly
[09:56] {dino} clc sm l .50
[09:56] {Threei}  1:1
[09:57] {nemo} maybe take the money and run until after the number?
[09:57] {Threei}  I prefer half and stop trail to .45
[09:57] {nemo} that manufacturing index number sucked, why would this be better?
[09:57] {Threei}  but if you are a scalper... fish... umbrella... :)
[09:57] {nemo} man bicycle
[09:57] {nemo} rabbit nemo
[09:58] {nemo} vodka nemo
[09:58] {nemo} wait....
[09:58] {nemo} where's the white out
[09:58] {Threei}  (EU) US Treasury Geither speculated to suggest at upcoming EcoFin meeting that Europe utilize its EFSF program similarly to how the US used its TALF program
[09:58] {Threei}  - financial press- Reminder: The US TALF program was designed to encourage consumer credit lending, by supporting issuance of ABS collateralized by by various loans such as student, auto and credit loans
[09:58] {Threei}  and that worked great, didn't it?
[09:58] {Threei}  bunch of frightened imbeciles
[09:59] {nemo} yeah, I think the astronomical analogy would be "Black Hole"
[09:59] {Threei}  expectantions are -.15 vs - .30 last time
[09:59] {dino} clc stop
[10:00] {Threei}  *(US) SEPT PHILADELPHIA FED: -17.5 V -15.0E
[10:00] {dino} cde sm l .22
[10:02] {dino} seems all news is good
[10:04] {patience} in fcx
[10:05] {Threei}  X boom
[10:15] {_roger99} no easy trading
[10:15] {_roger99} 4 now
[10:17] {dino} same here
[10:18] {dino} cde stop -.23
[10:19] {Threei}  grrrr
[10:20] {Threei}  WFM{ how on earth could I miss 68 break setup
[10:20] {Threei}  picture perfect
[10:23] {dino} sm s spy .35
[10:24] {nemo} ty took tza long
[10:25] {nemo} 1/2 at .95
[10:25] {dino} gap fill?
[10:25] {nemo} we
[10:25] {_roger99} esrx is due for a bounce
[10:25] {Threei}  feels like diving under 40 first
[10:26] {nemo} 1/4 more .15
[10:26] {Threei}  good read
[10:27] {nemo} I was looking at it, and Dinot took spy so I went with TZA
[10:30] {nemo} I'm out if IWM gets above .73
[10:30] {nemo} and probably go long tna then
[10:30] {Threei}  (EU) ECB said to suggest quicker approval of EFSF bond purchases at upcoming meeting - financial press
[10:30] {Threei}  - Speculating that the emerging market members of the IMF are resisting the next aid payment to Greece; EMU remains prepared to approve the next tranche
[10:30] {Threei}  - Sees private sector participation in Greece debt swaps near the 90% target following pressure from EU officials on banks to join
[10:30] {dino} 07 all red
[10:31] {dino} cov spy .05, +.30
[10:32] {nemo} not yet
[10:32] {dino} why would banks join?
[10:32] {nemo} got support at .78 for spy
[10:32] {Threei}  they are being "pressured"
[10:32] {nemo} extorted
[10:32] {Threei}  this is mafia
[10:33] {dino} most likely
[10:33] {nemo} I'm out .54
[10:33] {_roger99} out of esrx
[10:33] {dino} cat sm s .25
[10:34] {nemo} tza
[10:34] {nemo} 44 level key for tna
[10:35] {Threei}  what a dump FCX
[10:35] {Threei}  and more seems to come
[10:36] {Threei}  yup
[10:37] {nemo} mmmhhhh...pulled out early
[10:37] {nemo} tza
[10:45] {Threei} Short Setup: FCX  .70 break
[10:48] {Threei}  invalidated but looking for diff trigger
[10:49] {dino} got booted
[10:50] {Threei} Short Setup: FCX  .75 break
[10:50] {Threei}  if stays under .85
[10:56] {Threei}  not really clear
[10:56] {Threei}  market jerks up and down, no theme to the day
[10:57] {Threei}  1:1
[11:01] {Threei}  1:2, out
[11:01] {nemo} .51 is pivot
[11:02] {Threei}  and bands widened so much, I don't feel like pressing my luck and staying in for more
[11:07] {Threei}  good cover eh
[11:10] {Threei}  TZA
[11:10] {Threei}  biounce time nears
[11:11] {nemo} maybe, vwap still .30 away on iwm
[11:14] {Threei}  didn't really give a signal
[11:18] {dino} chk l .50
[11:18] {nemo} spy going to vwap probably, look for tza there
[11:25] {nemo} spy at vwap, might set up short here, but IWM still .18 below...improtant level is 120.50, spy might get there at the same time IWM get's to VWAP, that might be the short entry
[11:31] {Threei}  IMF's Lagarde: The coordinated action by central banks today was exactly what was needed - CNBC
[11:31] {dino} cde sm l .60
[11:32] {Threei}  I have a feeling this comment will come back to bit her
[11:32] {Threei}  bite
[11:32] {nemo} yeah, she's gonna' be happy they don't still use the guillotine
[11:34] {nemo} this area tza might setup
[11:34] {dino} lol
[11:39] {dino} chk to .62
[11:40] {dino} out chk +.12
[11:41] {nemo} tza .11
[11:41] {nemo} stop under the whole
[11:41] {Threei}  feels like SPY still wants up to me
[11:41] {nemo} oh oh
[11:42] {nemo} out flat
[11:42] {Threei}  TNA .50 break
[11:43] {Threei}  target aabout .90
[11:43] {Threei}  3 partials
[11:43] {nemo} yeah, not playing it in this area
[11:44] {Threei}  1:1
[11:44] {dino} hey nemo, i like those vwap charts
[11:44] {nemo} glad they work for ya'
[11:44] {dino} thx buddy
[11:45] {Threei}  1;2
[11:45] {dino} finally in black after the early morning hits
[11:51] {nemo} ,85 tza
[11:52] {nemo} 1/2  .00
[11:53] {nemo} stop under .80
[11:53] {Threei}  (IS) Egypt PM: Peace deal with Israel is not sacred, is always open for discussion
[11:53] {Threei}  oh good
[11:53] {Threei}  let's get rid of more dictators
[11:55] {nemo} stop under .90
[11:55] {nemo} gld
[11:56] {nemo} tza could be a buy on break of .00 if it holds .90
[11:56] {nemo} sayonara
[11:58] {Threei}  looks valid to me
[11:58] {nemo} hah, again, should have kept my original stop
[11:58] {Threei}  took it
[11:58] {Threei}  half out
[11:59] {dino} mw sm l .90
[12:02] {dino} cde to .64
[12:06] {dino} to .69
[12:08] {Threei}  TZA again
[12:08] {Threei}  .10 break this time
[12:08] {nemo} I'm ambivalent here
[12:08] {nemo} spy and iwm looking long
[12:09] {Threei}  they change their look faster than I care to comment, lol
[12:09] {nemo} sign of the times
[12:17] {nemo} gld
[12:18] {dino} indeed
[12:19] {Threei} Long Setup:  LVS
[12:19] {Threei}  .80 break
[12:19] {Threei}  if stays above .70
[12:19] {nemo} .71 tza
[12:19] {dino} cde to .79
[12:20] {nemo} 1/2 02
[12:21] {dino} acc drop
[12:22] {dino} no go
[12:23] {dino} out cde .79, +.19
[12:23] {dino} cyou drop
[12:23] {nemo} oh, that wasn't 1/2 .02 that was .82, wrong key
[12:24] {nemo} 1/4 more .03
[12:24] {nemo} if it breaks .10 a rebuy might be in order
[12:25] {nemo} stop is .79
[12:35] {Threei}  ECB's Stark: Euro bonds would reduce incentives for fiscal discipline, are not a solution for the European debt crisis
[12:46] {nemo} tza .56
[12:46] {nemo} out under .50
[12:46] {nemo} .65 for 1/2
[12:47] {nemo} stop .54, not overly confident
[12:48] {nemo} think spy break more likely
[12:49] {Threei}  IWM
[12:49] {Threei}  breaks
[12:50] {Threei}  trying it long
[12:50] {Threei}  YHOO
[12:50] {nemo} thanks I'm still in tza
[12:52] {nemo} out .69...love that number
[12:52] {nemo} thnk spy bounces off trend in a minute
[12:52] {nemo} oops
[12:53] {nemo} damn
[12:56] {nemo} yeah, spy pulling squirrel in the street at the trendline
[12:59] {Threei}  wow
[12:59] {Threei}  YHOO is serious
[13:07] {Threei}  PIMCO's Mather: Sees EUR/USD at $1.20 within six months
[13:11] {dino}  wtf mw stopped .83 -.07 then bounces to .90
[13:15] {Threei}  SPY looks breaky
[13:15] {Threei}  and climby
[13:15] {Threei}  and creepy
[13:16] {nemo} it's walking a trendline channel
[13:32] {dino}  joyg sm s .60
[13:32] {nemo} see if this was stophunting on the spy, it regains .90, tna could be a long
[13:35] {Threei}  UBS AG Chairman: disappointed in the trading loss disclosed earlier today; UBS is investigating the incident
[13:36] {nemo} tna might be coming up long here
[13:36] {Threei}  amazing... no matter how these stories repeat, banks don't seem to be able to prevent them
[13:36] {Threei}  rogue traders I mean
[13:49] {dino} cov joyg .40, +.20
[14:00] {dino} spike
[14:01] {Threei}  no news
[14:02] {nemo} http://www.youtube.com/watch?v=LJP1DphOWPs
[14:04] {RonS} absolute classic
[14:05] {dino} 11493 9/1 gap
[14:05] {dino} 2312 and 1234
[14:05] {RonS} knew a guy w/ appliance store that did similar tv...goofier the better
[14:06] {RonS} he used coffins as props in one...funnier than heck
[14:07] {nemo} his deadpan delivery is great
[14:08] {Threei}  another idiot got the mike:
[14:08] {Threei}  (EU) Belgium Fin Min: Deeper EMU budget integration is inevitable, would like to see the EMU consider the Eurobond concept over time
[14:08] {RonS} ...or over dinner?
[14:09] {Threei}  lol
[14:10] {nemo} gld
[14:15] {nemo} http://imgur.com/xJjQf
[14:15] {dino} cyou sm l .20
[14:16] {nemo} looking for tza now
[14:17] {Threei}  yes, looks like market is about to get tired
[14:17] {nemo} big spy volume
[14:18] {nemo} wanted .16 and it jumped right to .19
[14:18] {RonS} my fave:  Sir, we had you and your horses clocked at 5 M.P.H. Also the buggy was weaving back and forth.
[14:18] {nemo} that frosts my ass
[14:19] {Threei}  lol
[14:19] {Threei}  it will pull back now
[14:40] {nemo} thunderstorms...yippee...no trading
[14:41] {nemo} tza again
[14:45] {dino} out cyou .62, +.42
[14:54] {dino} wow 6%+ move since mondays lod
[14:55] {dino} this market does yearly moves in days
[14:59] {Threei}  look at currency moves
[14:59] {Threei}  never in history currencies moved that much that fast that foten
[14:59] {Threei}  often
[15:04] {patience} out fcx
[15:07] {dino} zzzzzzzzzzzzzzzzzzzzzz
[15:19] {Threei} Long Setup:  TZA  around .15 on pullback
[15:19] {Threei}  what pullback TZA says
[15:20] {Threei}  by look of daily, volume continues drying up as price advances
[15:28] {dino} calling it a day, good time, thx for ideas
[15:28] {larisa} bye all :)
[15:30] {Threei}  is my clock wrong?
[15:33] {Threei}  TZA
[15:33] {Threei}  .20 break
[15:36] {Threei}  come on, where is fear
[15:43] {Threei}  USGS: Magnitude 7.2 earthquake strikes near Fiji
[15:43] {Threei}  seems to become daily occurence
[15:43] {nemo} 2012
[15:44] {Threei}  you promised
[15:45] {nemo} 123.60 tomorrow
[15:48] {Threei}  unless news changes moosd
[15:48] {Threei}  mood
[15:48] {nemo} I think we hit it and drop
[15:48] {RonS} O tv telethon?
[15:49] {Threei}  poor RIMM
[15:50] {Threei}  earnings after close
[15:50] {Threei}  most likely won't be pretty
[15:53] {Threei}  OK, not sticking around for RIMM
[15:53] {Threei}  I can view the carnage later
[15:53] {Threei}  thank you all, have a good evening
[15:54] {Threei}  see you tomorrow

Wednesday, September 14, 2011

Sep 14 2011


Back in control as we did things by the book today, got rid of tension and remained stable and profitable. Boring second half though, as usually during this slow climb.

Session Time: Wed Sep 14 00:00:00 2011
[09:08] {Threei}  yawn
[09:22] {Threei}  (EU) US banks privately lending billions to support European lenders
[09:22] {Threei}  - International Financing Review- US banks have become the unlikely saviours of their ailing European counterparts, signing private agreements to lend them billions of dollars in recent weeks after an exodus of nervous money market funds left many without ready access to short-term funding.
[09:22] {Threei}  - Agreements worth tens of billions of dollars have been signed in the last month alone, according to bankers directly involved, who added that senior management of firms on both sides of the transactions have been closely involved with hammering out deals.
[09:23] {larisa} gm :)
[09:23] {Threei}  larisa :)
[09:23] {larisa} vad :)
[09:24] {dino} gm all
[09:24] {Threei}  dino :)
[09:28] {_roger99} gm all
[09:28] {Threei}  don't you find this ironic:
[09:28] {Threei}  roger :)
[09:28] {Threei}  Recent BRIC member nations comment on potential European investments
[09:28] {Threei}  - Brazil:l President Rousseff: Always ready to participate in international efforts for Europe
[09:28] {Threei}  - Russia: Gov't official: Europe must present a clear crisis strategy before Russia would consider providing financial assistance
[09:28] {Threei}  - India: To maintain 20% Euro investment holding ratio in its fx portfolio. Country does not maintain a position in Greek, Italian and Portuguese debt.
[09:28] {Threei}  - China: Premier Wen: Committed to opening China's economy and trade. Confident Europe will resolve its debt crisis.
[09:28] {Threei}  - China's Foreign Ministry: Reiterates confidence in Europe and hopes Europe can ensure China's investment in the region
[09:28] {Threei}  - China PBoC advisor Li Daokui: China should continue to buy Italian bonds in the short term; Should refrain from "blindly" buying large amounts of EU bonds. Should adjust EU investment strategy over medium-long term; should buy more EU stocks.
[09:28] {Threei}  - South Africa: Fin MIn Gordhan: Does not have any position on purchasing Euro bonds but will be part of BRIC discussions on Sept 24th. Looking for more purposeful set of interventions in global economy
[09:29] {Threei}  something is so backwards about all this
[09:29] {Threei}  my first inclination is to look for short in FCX
[09:29] {Threei}  need spread tightening
[09:29] {patience} good morning
[09:29] {Threei}  and overall, don't want to be oushy
[09:29] {Threei}  patience :)
[09:29] {Threei}  pushy rather
[09:31] {Threei}  remember yesterday's opening volatility
[09:31] {Threei}  let's start with half lot trades until further notice
[09:33] {Threei} Long Setup:  SLW  .10 break
[09:33] {Threei}  if stays above 39
[09:33] {dino} 1185 s/p gap
[09:34] {Threei}  need FCX bounce for short, got away at the open
[09:35] {Threei}  no go SLW
[09:36] {nemo} feel like yesterday so far
[09:37] {Threei}  waiting out these sharp spikes
[09:37] {Threei}  CIIC lost its mind?
[09:38] {Threei}  FCX biunce time
[09:38] {Threei}  bounce too
[09:39] {Threei} Long Setup:  FCX  .60 break
[09:39] {Threei}  if holding .50
[09:39] {Threei}  invalidated'
[09:40] {Threei} Long Setup:  FCX  .45 break
[09:40] {Threei}  if holding .35
[09:41] {Threei}  (BR) Brazil Tsy Sec Augustin: Studying the possibility of issuing global debt
[09:41] {Threei}  huh?
[09:42] {Threei}  weren't they going to buy euro bonds?
[09:42] {dino} bedlam
[09:42] {Threei}  what a mess
[09:43] {dino} open gaps filling
[09:44] {Threei}  (GE) German FDP coalition party member Roesler: Recent ruling by the constitutional court forbids eurobonds
[09:44] {Threei}  FCX invalidated again
[09:44] {nemo} bounce at .25 or .12
[09:45] {_roger99} fcx now
[09:45] {Threei}  .40 break...
[09:49] {_roger99} took on the bottoming tail 1 min chart...sold .49
[09:49] {Threei}  good out
[09:49] {Threei}  RIMM
[09:49] {Threei}  double bottom in the making
[09:49] {Threei} Long Setup:  RIMM  .50 break
[09:49] {Threei}  stop under .40
[09:50] {Threei}  1;1
[09:52] {Threei} Long Setup:  LVS  .10 break if holding 48
[09:54] {Threei}  (GR) ECB's Nowotny: Talk about Greek insolvency is unjustified
[09:54] {dino} idx sm l .31
[09:54] {_roger99} watching rimm for a second
[09:54] {Threei}  look up "denial", Nowotny
[09:55] {Threei}  RIMM looks setting up again
[09:55] {Threei}  same setup
[09:56] {Threei}  stop under .40
[09:56] {Threei}  target is bigger this time
[09:56] {Threei}  .75 or so
[09:56] {Threei}  LVS 1:1
[09:57] {_roger99} numbers are coming out in 2 minutes
[09:57] {_roger99} closing my open trades
[09:57] {Threei}  busness inventories..
[09:58] {Threei}  not very significant one normally
[09:58] {_roger99} yes
[09:58] {Threei}  (IT) Germany Econ Min: Any market attack on Italy would be considered an attack on the entire euro zone
[09:58] {Threei}  this is a gem
[09:58] {Threei}  imbecile
[09:59] {dino} roflol
[10:00] {Threei}  .4 vs .5
[10:00] {Threei}  no go RIMM
[10:01] {nemo} numbers?
[10:01] {dino} hfc
[10:02] {Threei}  .4 vs .5
[10:02] {Threei} Short Setup: FCX  .15 break
[10:03] {Threei}  if stays under .25
[10:03] {Threei}  .10 is regular trigger, want aggressive entry here
[10:04] {nemo} .12 is support
[10:04] {Threei}  loss of .10 should kill it
[10:05] {Threei}  LVS was lucky to get us to profit target before numbers, lol
[10:06] {Threei}  want to trail stop on FCX to above .20 after losing .10
[10:06] {Threei}  to keep risk tighter, taking advantage of aggressive entry
[10:06] {Threei}  OK, trail
[10:06] {Threei}  risk is negligibly small now
[10:10] {Threei}  held by fingertips
[10:10] {Threei}  die now
[10:10] {nemo} I wous out at .21
[10:10] {Threei}  it paused there... waited with finger on the button
[10:10] {Threei}  just a few 100 share buys at .21
[10:11] {nemo} Yeah, a little art to your trading
[10:11] {Threei}  kind of
[10:11] {nemo} done that too, this environment pretty nasty
[10:11] {dino} gpor sm l .91
[10:11] {dino} hfc sm l trig .95
[10:13] {Threei} Long Setup:  RIMM  .35 break
[10:13] {Threei}  stop for scalpers under .25, day traders .20
[10:14] {Threei}  no go RIMM
[10:14] {Threei}  FCX 1:1 finally
[10:15] {Threei}  exchanging jabs with market
[10:15] {Threei}  we get one, it gets one
[10:15] {Threei}  FCX 1:2
[10:15] {dino} drop to lod
[10:15] {Threei}  *(AS) AUSTRIAN PARLIAMENT DOES NOT APPROVE THE EFSF UPGRADE
[10:17] {Threei}  1:3, out in full
[10:17] {dino} gj
[10:17] {Threei}  ty... feels like work
[10:18] {Threei}  GLD
[10:18] {Threei}  looking for long on pullback
[10:19] {Threei}  this trading from headline to headline continues
[10:19] {Threei}  very nervous market
[10:20] {Threei}  FCX seems to be stabilizng
[10:20] {dino} sm l cat .80
[10:21] {Threei}  new bout of selling
[10:21] {Threei}  larisa... is it oanic finally??
[10:21] {Threei}  panic
[10:21] {larisa} by fingertips :)
[10:21] {Threei}  ok... crash?
[10:22] {Threei}  GLD, let's try half lot
[10:22] {Threei}  .35 break
[10:22] {Threei}  if holding .25
[10:22] {Threei}  invalidated
[10:23] {RonS} Austrian parliament committee does not approve EFSF upgrade; needed two thirds majority
[10:23] {Threei}  Ron... channeling dave?
[10:23] {RonS} guess so...sorry
[10:24] {Threei}  scroll up to 10:15 :)
[10:24] {Threei}  wow GLD
[10:24] {RonS} see it now
[10:24] {Threei}  normally it goes up when Europe falls apart
[10:24] {Threei}  bounce time
[10:24] {Threei}  volatility is not for faint hearts
[10:25] {nemo} helmet and hemmrhoid pillow action
[10:25] {Threei}  no kidding
[10:25] {nemo} vodka bottle to my right
[10:25] {patience} chocolate for me
[10:28] {dino} out cat .30, +.50
[10:28] {Threei}  wtg
[10:29] {dino} ty
[10:29] {Threei}  dino is like a rock of calm in the sea of panic
[10:30] {Threei}  *DOE CRUDE: -6.7M V -3.5ME; GASOLINE: +1.9M V -1ME; DISTILLATE: +1.7M V +500KE
[10:31] {dino} justlucky
[10:31] {Threei}  yeah, we know
[10:33] {Threei} Long Setup:  FCX  .80 break
[10:33] {Threei}  hjalf lot
[10:34] {Threei}  stop under .65
[10:34] {Threei}  target 41.10, two partials
[10:38] {Threei}  you can almost feel how jittery market is
[10:39] {dino} random dance
[10:40] {patience} for all the weirdness, tsx is slightly in the green...so far
[10:41] {nemo} Canadien dollar more stable
[10:42] {nemo} I love flossing with barbed wire
[10:44] {dino} ben dover market
[10:44] {Threei}  if feel uncomfortable with FCX, just scratch it
[10:44] {nemo} I'm gonna' go talk to bunny
[10:44] {Threei}  no harm no foul
[10:45] {dino} imo holds well
[10:47] {Threei}  yea
[10:49] {Threei}  new spasmatic activity
[10:49] {nemo} market epilepsy
[10:49] {Threei}  eqzaktly
[10:50] {nemo} hopefully it doesn't get that drug resistant tuberculosis
[10:50] {dino} markets trading pulp-like
[10:51] {dino} "pulp moves baby" costazza/seinfeld
[10:51] {nemo} spy basically trading between yearly and weekly pivot this morning
[10:51] {dino} dji moves 30 pts in seconds
[10:53] {Threei}  let's try violence
06[10:53] * Threei kicks FCX in the rear with heavy duty stee toe army boots
[10:54] {Threei}  hey... vilence works
[10:54] {Threei}  1;1, half out
[10:54] {dino} keep kickin' bro
06[10:55] * Threei pockes fcx with sharp stick
[10:56] {Threei}  stop to .79 for the balance
[10:56] {Threei}  not willing to give anythng back
[10:57] {Threei}  volume drops off on pullback
[10:57] {Threei}  so far so good
[10:57] {Threei}  see these last three volume bars?
[10:57] {Threei}  just hold this new support, FCX
[10:57] {Threei}  and you can get promoted into 41s
06[10:58] * Threei pokes FCX with electrocharged sharp stick
[10:59] {Threei}  what a good boy
[10:59] {pragmatic} it helped
06[10:59] * Threei recharges stick and pokes FCX again
[10:59] {Threei}  violence is such effective weapon...
[11:04] {Threei}  ugh
[11:04] {pragmatic} use your shocker again
[11:04] {Threei}  missed LVS pullback
[11:04] {Threei}  was waiting for it, and got distracted
[11:04] {Threei}  let's see if oulls back under .80
[11:05] {Threei}  nah
[11:05] {Threei}  got away
[11:07] {_thomcbell} fcx are u still full position VAD?
[11:07] {Threei}  no, half
[11:07] {Threei}  10:54] {Threei} 1;1, half out
[11:09] {_thomcbell} tu
[11:09] {_thomcbell} remember u all are fast
[11:09] {_thomcbell} dizzying
[11:09] {Threei}  well, this one was slow :)
[11:09] {Threei}  took its sweet time
[11:09] {Threei}  and still does
[11:10] {Threei}  but finally tries to get out of its cage
[11:14] {Threei}  finally
[11:14] {Threei}  out in full
[11:15] {Threei}  now, thomc... trade took over 45 minutes.... don't tell me it was fast :)
[11:17] {dino} fcx to .10
[11:18] {Threei}  gosh... I thought I was really patient with this one, but dino outpatiences me
[11:18] {dino} out +.30, ty 3i
[11:19] {Threei}  welcome
[11:26] {Threei}  slow climb... last thing I want to trade
[11:26] {Threei}  got lucky enough to get a long play at the beginning of it
[11:37] {dino} acom sm l .45
[11:41] {Threei} Long Setup:  TZA  .65 break
[11:41] {Threei}  half lot
[11:42] {Threei}  stop under .50
[11:44] {Threei}  1:1
[11:44] {Threei}  your discretion, to scalp or partial
[11:44] {Threei}  I have no prefercne
[11:50] {Threei}  anyone's here?
[11:50] {Threei}  or I am talking to myself
[11:51] {Threei}  and trading with myself
[11:51] {_roger99} no
[11:51] {_roger99} took it
[11:51] {Threei}  cool
[11:51] {Threei}  or as my kids used to say, kewl
[11:54] {patience} in slw and still in fcx
[11:55] {Threei}  FCX wuite a strong move
[11:55] {Threei}  quite
[11:55] {Threei}  oh well... trading what I can read
[11:55] {patience} my style of trade
[11:56] {_thomcbell} nice work guys
[11:57] {Threei}  better than yesteday
[11:57] {Threei}  really, yesterday I felt like market was trading me, not the other way around
[11:57] {Threei}  rare feeling for me
[11:58] {Threei}  back in control today
[11:59] {dino}  about time slacker
[12:00] {dino} hmmm expected a comment...
[12:00] {Threei}  I am a sclacxket, remember?? :)
[12:00] {Threei}  slacker
[12:00] {Threei}  too lazy to comment :)
[12:01] {dino} :/
[12:01] {Threei}  wow... sclacxket? that's new lows in my typing
[12:01] {Threei}  and you thought I hit rock bottom
[12:05] {Threei}  this is really funny:
[12:05] {Threei}  http://wallstreetpit.com/83653-how-europe-sees-itself
[12:07] {RonS} that is...have you read the jeffries analysis of the situation?
[12:08] {Threei}  yes
[12:08] {patience} funny
[12:09] {RonS} was shocked to read that the so-called assets of the french banks are 4x the french gdp
[12:11] {Threei}  I am suspicious of definition of assets
[12:11] {Threei}  too often we found that debt was being calssified as asset
[12:11] {nemo} European banks can use debt as assets...go figure
[12:11] {Threei}  and when debt has shaky or no collateral...
[12:11] {Threei}  and leveraged on top of that...
[12:12] {Threei}  we all know how it ends
[12:13] {RonS} that is the banking accounting convention...it all went fuzzy when mark to market went out the window
[12:13] {RonS} bunny must be quite the conversationalist...nemo gone a long time
[12:13] {Threei}  hehe
[12:21] {RonS} dino, think i have found a great stock to start following.  fio...big % atr, 40% short float, great story...seems to have defined a bottom
[12:21] {nemo} tna may be coming up for a long
[12:21] {RonS} ...and read this:  http://tinyurl.com/3whaxol
[12:25] {dino} ok ron
[12:27] {dino} ron, are you trying to mae me a fundamentals guy?
[12:28] {Threei}  resist dino
[12:28] {Threei}  we will deliver you from temptation
[12:28] {dino} trying too
[12:30] {nemo} guess I should have played tna
[12:38] {dino} giddy-up
[12:46] {dino} hfc to.25
[12:47] {dino} to .32
[12:49] {dino} out .31, +.36
[12:49] {Threei}  nice
[12:50] {dino} ty
[12:51] {dino} acom to b/e things stuck
[12:51] {dino} out idx -.34
[12:51] {dino} out acom
[12:52] {Threei}  (EU) Euro contagion said to have spread over markets; risks exist for a viscious cycle -financial press
[12:52] {Threei}  viscious?
[12:52] {Threei}  someone types like I do
[12:53] {RonS} or spells like ese...
[13:13] {dino} out gpor .21, +.30
[13:13] {Threei}  time for market to get tired soon
[13:14] {Threei}  TZA...
[13:14] {Threei}  .10 break, half lot
[13:14] {Threei}  stop is obvious
[13:15] {Threei}  1:1
[13:15] {Threei}  nice and easy
[13:15] {Threei}  1:2
[13:15] {Threei}  this is how I love them,
[13:15] {Threei}  no labor, no wait
[13:17] {dino} nice
[13:28] {dino} moh sm l .54
[13:32] {Threei}  A lot of people think they're butterflies, but they're really just caterpillars with delusions.
[13:39] {Threei}  50% Say Obamas Policies Have Hurt the Economy
[13:39] {Threei}  Thirty-two percent (32%) think the presidents policies have helped the economy, while eight percent (8%) say theyve had no impact
[13:39] {Threei}  all that is needed is generic republican
[13:46] {dino} 1185 filled
[13:46] {Threei}  volume is ridiculous
[13:46] {RonS} Germany say they are to issue a statement on Merkel, Sarkozy and Greek PM call; no set time given
[13:46] {dino} moh to .59, untrusting
[13:50] {patience} It's times like this in the market that I really wish George Carlin was alive to comment on it
[13:50] {dino} have to imagine shorts are getting killed
[13:55] {Threei}  it all depends on the next headline
[13:55] {Threei}  rarely do we see market this sensitive to news
[14:01] {dino} out moh +.05
[14:03] {RonS} so, guess that means...couldn't get moh, eh?
[14:04] {RonS} :)
[14:04] {RonS} clwr halt
[14:04] {RonS} guessing circuit breaker
[14:05] {Threei}  (GR) Greece govt said to believe that ECB/IMF/EU Troika will confirm that Greece is meeting its 2011/12 budget targets - financial press
[14:06] {Threei}  CLWR
[14:06] {Threei}  Clearwire Confirms collaboration with China Mobile for TD-LTE Devices- Announced a collaboration to accelerate the development of TD-LTE devices. Specifically, the two companies agreed to work together to cultivate a robust device ecosystem that supports multi-mode, multi-band devices with minimum component complexity and cost.
[14:06] {Threei}  (GR) Greece Govt notes that there is common support for decisions taken at the July 21 summit; all three leaders agree Greece will remain part of the Euro area; remains committed to all measures and to meet budget plans
[14:06] {Threei}  - Budget decisions made will help shield the Greece economy; three leaders affirmed support for July 21
[14:06] {Threei}  - France President Sarkozy Statement: Greece must strictly enforce its budgetary program.
[14:06] {Threei}  - German Govt Spokesmand: Greece needs to strictly and effectively enforce budget plan.
[14:07] {nemo} 119.80 next
[14:07] {Threei}  rally on nothing
[14:08] {Threei}  I'd call it Seinfield rally
[14:08] {nemo} technical rally
[14:09] {nemo} next level would be 120.50ish
[14:09] {RonS} reaches pact with China Mobile $CHL related to TD-LTE devices
[14:09] {Threei}  lol Ron
[14:10] {Threei}  lift your eyes
[14:10] {Threei}  or take me off ignore
[14:10] {RonS} today is baffling given the poor price action in copper and the emerging markets...
[14:11] {nemo} purely technical
[14:12] {nemo} http://www.freestockcharts.com?emailChartID=86cf0436-d302-4ba4-b611-937938c7a044
[14:15] {Threei}  http://www.youtube.com/watch?v=pry5iL4TIa8&feature=player_embedded
[14:19] {nemo} Wow
[14:20] {RonS} so, what was the forum?
[14:21] {nemo} dcc ron
[14:21] {Threei}  weuro parlament I assume
[14:21] {Threei}  euro
[14:22] {dino} 11295 gap
[14:25] {RonS} so, guess i never noticed...britain part of the eurozone but not the currency?
[14:27] {Threei}  right
[14:27] {dino} not currency, that what saved them
[14:27] {Threei}  EU but not EMU
[14:28] {Threei}  EU memebrship is ,limited in many regards too as I underatand
[14:31] {Threei}  time for some pullback
[14:31] {Threei}  TZA
[14:31] {Threei}  long with stop under 43, want little pullback for tighter stop
[14:32] {Threei}  in
[14:32] {Threei}  target .45
[14:37] {Threei}  no go
[14:41] {nemo} looks like next run coming
[14:42] {Threei}  could be, these long stalls often resolve in another leg up
[14:49] {RonS} what's not to like?  hearing cnbc reporting that facebook ipo delayed until late 2012
[14:49] {Threei}  yeah
[14:50] {RonS} guess they are prognosticating a sucky environment until the O gets the boot...
[14:52] {Threei}  kidding? their ceo is dubbed "a kid who made obama president"
[14:52] {RonS} get this, daughter has to fly baby to hong kong to get u.s. vaccinations, none on mainland...
[14:53] {dino} wow
[14:53] {RonS} but the "kid" is a heck of a businessman...
[14:53] {dino} expensive vaccine
[14:53] {RonS} $850 flight she says
[14:55] {RonS} wow dino, don't look acom
[14:58] {dino} thanks for alerting me to that
[14:59] {dino} 11295 filled
[14:59] {nemo} spy breaks and holds above .80 120.50 next resistance
[15:00] {nemo} IWM has some price action resistance at .85 but nothing serious until 71,20 or so
[15:00] {dino} next up gaps 11493, 2312, 1120
[15:00] {nemo} here we go
[15:00] {patience} still in fcx and slw
[15:08] {Threei}  mibbit timeout?
[15:08] {dino} ?
[15:09] {Threei}  raven and nemo lost connection
[15:09] {Threei}  (Ping timeout: 121 seconds)
[15:09] {nemo} that was fun
[15:11] {patience} out fcx
[15:12] {dino} all is well in the world again
[15:16] {Threei}  oh good
[15:16] {dino} :D
[15:17] {Threei}  will they wake us up when reality knocks the door?
[15:17] {Threei}  or should we set an alarm clock ourselves/
[15:17] {dino} tomorrow imo. options ex week, need one big down day
[15:20] {Threei}  for todsay the question is, will gravity kick in or will we end up weightless?
[15:22] {dino} up weightless
[15:23] {nemo} we should pull back because vwap is so far away, but without news, we probably head back to test today's highs and maybe surpass them going into Friday with everybody getting out of the pool for the weekend
[15:24] {nemo} we came within .06 of thos resistance levels on spy
[15:24] {Threei}  So... TZA double bottom with .50 support?
[15:24] {Threei}  ready to try?
[15:24] {nemo} I think spy tries for those levels, but yeah, getting there
[15:25] {nemo} wouldn't plan for much of a scalp, the pull back would be overnight
[15:25] {Threei}  ok, if holdong .45
[15:25] {Threei}  .55 trigger for a tight stop
[15:25] {dino} don't know what to think, just know that this is a 5% rally since monday lows
[15:26] {Threei}  when I don't know what to think, which is most of the time... I don't!
[15:26] {dino} gut says its getting extreme
[15:26] {Threei}  invalidated
[15:26] {nemo} so...you did that when you got married, obviously
[15:27] {nemo} 121,20 is monthly pivot on SPY
[15:30] {Threei}  did what? thinking?
[15:30] {Threei}  or not thinking?
[15:31] {Threei}  OK, it IS getting extreme
[15:31] {nemo} right here is confluence level on spy
[15:31] {dino} hmmm +250 today, -250 tomorrow, has that not been pattern?
[15:32] {dino} in any case, gotta hop, bus stop. take care all thx for ideas
[15:32] {nemo} Yeah, but no reason to sell of until Friday, Greece has already defaulted, so it's a matter of which banks get whacked
[15:32] {Threei}  take care dino
[15:33] {dino} ;)
[15:33] {nemo} no weakness....monthly pivot 121.20
[15:37] {Threei}  41 break TZA is so obvious, ot's bound to be a trap
[15:37] {Threei}  or not?
[15:37] {Threei}  skipping it
[15:38] {nemo} Nothing shows short after that kind of strength
[15:40] {Threei}  well, what do you know
[15:40] {Threei}  it worked
[15:40] {Threei}  would have I mean
[15:40] {nemo} yeah, but not taking it was the right decision, especially after another teeth pulling day
[15:41] {Threei}  yeah, kind of "one risk too many"
[15:41] {Threei}  but I don't feel today as teeth pulling
[15:41] {nemo} I did, led to me missing easy plays
[15:41] {Threei}  rather boring, but what worked - worked fine and outrweighed what didn't
[15:43] {Threei}  look at volume
[15:43] {Threei}  barely above half of yesterday's
[15:43] {nemo} you want to see something funny...look at TNA vs TZA volume
[15:44] {nemo} wow
[15:45] {nemo} spy still up 2.30
[15:54] {Threei}  OK guys, certainly not going to try antyhing more today
[15:54] {Threei}  thank ytou all, have a good evening
[15:54] {nemo} c u
[15:54] {Threei}  see you tomorrow
[15:55] {larisa} bye :)

Tuesday, September 13, 2011

Sep 13 2011


Somewhat hectic and nervous day where almost no trade was of my favorite kind - low risk, clear smooth sailing to the target. Unlike yesterday, coming out positive was labored and left us feeling not entirely satisfied with how we handled the day. Let's see if we can do it smoother tomorrow.

Session Time: Tue Sep 13 00:00:00 2011
[08:46] {_shaun70} afternoon/morning :)
[08:46] {Threei}  morning shaun
[09:03] {_shaun70} What are you looking at this morning, Vad?
[09:06] {dino} gm all
[09:06] {Threei}  dino :)
[09:06] {Threei}  usual suspects... don't see anything oustanding
[09:06] {Threei}  don't chage colors please, shaun
[09:07] {_shaun70} sorry! thought that was just on my desktop
[09:08] {Threei}  :)
[09:09] {dino} mine too, lol
[09:09] {_shaun70} darn it - greed
[09:09] {_shaun70} oops
[09:10] {_shaun70} green was my favourite colour (fat fingers this morning)
[09:10] {_shaun70} :)
[09:18] {_roger99} gm
[09:20] {Threei}  roger :)
06[09:20] * Threei slaps nemo around a bit with a alarm clock
[09:22] {Threei}  looking at FCX as possible first trade
[09:23] {Threei}  need spread to tighten, and need one of two ranges to form and break: .40 -.50 for short on .40 break, or .50 - .60 for long on .60 break
[09:23] {larisa} gm :)
[09:23] {Threei}  larisa :)
[09:23] {larisa} vad :)
[09:26] {nemo} was thinking tna long, but spy and iwm decided to take off before the bell
[09:27] {Threei}  opening looks very uncertain
[09:30] {Threei}  (GR) Netherlands Fin Min de Jager: Preparing for any possible Greece scenarios; concerned with the state of the economy
[09:30] {Threei}  - An orderly default of a nation would be difficult inside of a monetary union.
[09:30] {Threei} Long Setup:  FCX  .60 break
[09:30] {ese} morning
[09:30] {Threei}  ese :)
[09:31] {nemo} we opened at the weekly pivot points on IWM and SPY looking for weakiness here
[09:31] {Threei}  invalidated for now
[09:31] {Threei} Long Setup:  FCX  .50 break if holding .40
[09:32] {nemo} teleport
[09:32] {Threei}  here it is again
[09:32] {Threei}  nope
[09:33] {Threei}  SLW short was the way to go, as usual, lol
[09:34] {Threei}  hunting for reversal
[09:34] {nemo} pivot .20 fcx
[09:34] {Threei}  SLW rather than FCX
[09:35] {Threei} Long Setup:  SLW  .10 break
[09:35] {Threei}  if holding 39 of course
[09:35] {Threei}  1:1
[09:36] {dino}  07 all red
[09:36] {nemo} fcx
[09:36] {Threei} Long Setup:  FCX  .10 break
[09:36] {Threei}  if holding 41
[09:37] {Threei}  target .35, 2 partials
[09:38] {ese} in
[09:39] {Threei}  volume looks right so far, little help from the market is needed
[09:39] {ese} yup
[09:40] {Threei}  srtoped
[09:40] {Threei}  no help
[09:40] {ese} stoped
[09:41] {ese} -.13
[09:41] {nemo} -.20
[09:41] {nemo} wow, bottom just dropped out of it
[09:42] {ese} went through there in a shot....surprised i got .963487 on that
[09:42] {ese} but whos counting
[09:42] {nemo} hate trades like that to dig out of
[09:43] {ese} ya
[09:45] {Threei} Long Setup:  LVS  47 break
[09:45] {Threei}  stop under .90
[09:45] {nemo} already gone
[09:46] {ese} bout as undecided a start to a day as i've seen.......daaaaa"which way will she go....which way will she go
[09:47] {ese} fcx...bastard
[09:47] {Threei}  anyone caught LVS?
[09:47] {ese} and you inew it was going to happen
[09:47] {ese} not i
[09:47] {nemo} already gone when I brought up the chart
[09:48] {dino} kss sm l .85
[09:49] {Threei}  TZA
[09:50] {Threei}  dive under .50, and will be intersted in long
[09:50] {nemo} no spy ripping
[09:51] {Threei} Long Setup:  TZA  .50 break
[09:51] {Threei}  half lot
[09:51] {Threei}  if stays above .35
[09:52] {Threei}  invalidated for now
[09:52] {Threei}  valid again
[09:52] {Threei}  in
[09:52] {Threei}  sheesh, volatile
[09:53] {Threei}  stop under .25, target .90
[09:53] {Threei}  2 partials
[09:54] {Threei}  no go
[09:54] {nemo} long tna .61
[09:54] {nemo} 1/2 .73
[09:55] {nemo} what a chop fest
[09:55] {nemo} 1/4 more .85
[09:55] {dino} kss to /20
[09:55] {dino} .20
[09:55] {dino} to .25
[09:56] {dino} out.28, +.43
[09:56] {nemo} out last quarter under .60
[09:56] {nemo} chop fest
[09:58] {nemo} no edge, trading at the moment is a crapshoot
[09:59] {dino} odd
[10:00] {Threei}  (US) Sept IBD/TIPP Economic Optimism: 39.9 v 38.0e
[10:00] {ese} L rimm .51
[10:01] {ese} crap out 1/2 .58
[10:01] {ese} stopped balance .49
[10:01] {ese} jeez.......give a person time to think will ya!!!!!!!
[10:01] {Threei}  lol
[10:04] {dino} relaaaaxxxxx
[10:05] {dino} gaps above 11295, 2214, 1185
[10:08] {Threei}  squeeze
[10:08] {Threei}  should pull back veryu soon
[10:08] {Threei}  TZA
[10:08] {Threei}  .50 break
[10:08] {nemo} spy likely to test yesterday's highs
[10:09] {nemo} just a continuation from 3:15 yesterday
[10:09] {Threei}  not yet...
[10:09] {Threei}  backing off
[10:10] {nemo} looking for spy 118.20 then maybe a pullback
[10:10] {nemo} spy at yearly pivot here
[10:11] {Threei}  ok, must be time finally
[10:11] {Threei} Long Setup:  TZA  .50 break
[10:11] {Threei}  stop under .35
[10:12] {dino} 2214 filled
[10:12] {Threei}  1:1
[10:12] {Threei}  1:2
[10:12] {Threei}  stop to .45 if partialing
[10:13] {Threei}  (IT) Italy Deputy Minister: Italy has not asked China for financial help
[10:14] {dino} lol
[10:14] {RonS} so...what have they been doing in the series of meetings since july
[10:14] {Threei}  golf?
[10:14] {Threei}  sightseeing?
[10:14] {dino} playing cards
[10:14] {RonS} they are not O
[10:14] {Threei}  go go girls?
[10:14] {dino} perhaps
[10:15] {dino} spy sm s .65
[10:17] {dino} bstop is .76 fwiw
[10:18] {Threei} Long Setup:  SLW  .55
[10:18] {Threei}  if stays above .45
[10:19] {Threei}  let's make .53 a trigger
[10:20] {dino} whoosh down gut feels
[10:21] {Threei}  invalidated
[10:21] {dino} spy bs to b/e
[10:22] {pragmatic} what does b/e mean ?
[10:22] {ese} L cavm .35
[10:22] {dino} cov .59, +.06
[10:22] {larisa} break even
[10:23] {pragmatic} ahh, thanks
[10:23] {dino} ese, nice caveman
[10:23] {ese} out .1/2 .54 + .19
[10:24] {ese} ya tks
[10:24] {dino} wtg
[10:25] {dino} man that spy is pulp-like today
[10:25] {ese} stop to break even balance
[10:27] {Threei} Short Setup: GLD  .40 break
[10:27] {Threei}  if stays under .55
[10:27] {nemo} huh
[10:27] {nemo} frickin teleported
[10:27] {Threei}  secondasry entry
[10:28] {ese} out cavm full .72
[10:28] {Threei}  wtg
[10:28] {ese} +.37
[10:28] {ese} tks
[10:28] {Threei}  no go GLD
[10:29] {Threei}  (US) House Speaker Boehner (R-OH) rejects Obama's tax increases in the jobs program; says there is a need to find common ground to increase job growth
[10:30] {Threei}  actually, it's tax breaks in that program that I have mor eproblem with
[10:31] {Threei}  (US) Congressional Budget Office (CBO) revises unemployment rate higher, economic growth weaker, 2011 forecast at 1.5%, 20112 growth forecasted at 2.5%
[10:32] {Threei}  - Sees unemployment rate near 9% through 2012
[10:34] {Threei}  whipsaw day so far
[10:35] {Threei}  let's see if we get clearer signal
[10:35] {dino} yeah, sitting here
[10:35] {Threei}  TZA pullback to or just under .50
[10:35] {Threei}  if happens will be interested in entry for bigger trade
[10:35] {nemo} spy at weekly pivot just below vwap, bounce area
[10:38] {Threei}  looks like break for TZA
[10:42] {Threei} Long Setup:  TZA  .80 break
[10:43] {Threei}  stop under .65
[10:44] {Threei}  1:1
[10:44] {Threei}  1:2
[10:45] {Threei}  perfect timing on this pullback
[10:45] {Threei}  blind squirrel you know
[10:51] {Threei}  wow
[10:51] {nemo} crazy stuff today
[10:51] {Threei}  absolutely
[10:52] {Threei}  what the deuce
[10:53] {Threei}  no news for this dump
[10:53] {Threei}  yet
[10:53] {nemo} normal pullback for the daily ranges we've been having
[10:54] {Threei}  well, a bit too sharp and sudden for a purely technical move
[10:54] {nemo} rise of the machines
[10:54] {Threei}  oh boy
[10:54] {Threei}  no this HFT stuff please
[10:54] {nemo} dropped right into the weekly pivot
[11:02] {Threei} Long Setup:  TZA  .20 brewak
[11:03] {Threei}  if stays above 46
[11:03] {dino} cvi sm l .10
[11:03] {Threei}  target 46.80
[11:04] {Threei}  this one is intended to be a day-fixing trade
[11:04] {Threei}  1:1
[11:04] {Threei}  1:2
[11:04] {Threei}  stop b/e for the last part
[11:05] {Threei}  direct hit
[11:05] {Threei}  out in full
[11:05] {Threei}  went into positive for the day
[11:05] {Threei}  whew
[11:06] {dino} cvi stop -.10
[11:06] {nemo} didn't catch it, would have made me positive
[11:06] {Threei}  it gave time...
[11:06] {Threei}  pulled back after initial break
[11:07] {nemo} was .28 when I looked, so thought it was off to the races
[11:12] {dino} cvi sm l .90
[11:17] {ese} am outta here.....have a great day
[11:17] {Threei}  take care ese
[11:19] {dino} cya
[11:19] {Threei}  lol
[11:19] {_roger99} tna
[11:19] {Threei}  just thought of 46.50 being another long trigger for TZA
[11:19] {dino} cvi stopped -.15
[11:19] {nemo} yeah bull flag
[11:19] {Threei}  apparently 3 seconds-long thinking is too long today
[11:20] {Threei}  yes
[11:20] {nemo} yeah, everything is on a hair trigger by the time it reveals itself
[11:20] {Threei}  that's why I prefer panicky market to an uncertain market
[11:21] {Threei}  when market is as hesitant and scared as now, it jumps either way on little or no notice
[11:27] {_roger99} tna  ?
[11:27] {nemo} not yet imo
[11:28] {nemo} close though
[11:29] {Threei}  if pulls back here under .70 will be inetersted in double bottom
[11:29] {nemo} yeah, in this chop would like to see something more confirming
[11:30] {nemo} so that means we won't get it
[11:31] {Threei}  in this chop, I am fine with missing something, rather than jumping onto something I shouldn't
[11:31] {dino} cvi rinsed
[11:31] {RonS} took cvi l .58  out 1/2 .78...letting rest run w/ stop b/e
[11:31] {dino} you dog
[11:32] {RonS} woof
[11:32] {dino} mind sm l .40 thin
[11:33] {dino} kss sm l .75
[11:40] {Threei}  TNA was a good idea roger... just invcredibly hard to find exact entry in this chopfest
[11:40] {_roger99} i see
[11:41] {_roger99} it had a large volume at the bottom
[11:42] {nemo} thing is it's a derivative of IWM
[11:42] {Threei}  true, but you still need a clearn entry signal
[11:42] {Threei}  this kind of drops can continue
[11:42] {Threei}  and ashow another sharpo leg down with even more volume
[11:43] {nemo} here's the funny part, the entry was keyed off of spy when SPY touched a retracement level, both bounced when spy hit that level
[11:43] {Threei}  arbitrary bottom fishing, aka knife-catching..
[11:43] {Threei}  this kind of things is usually obvious only in retrospect nemo... :)
[11:44] {Threei}  I mean, you can see them in advance,
[11:44] {Threei}  but actual trading on them is, well...
[11:45] {dino} difficult?
[11:46] {Threei}  thanks... I was looking for politically correct term for nearly-&*%#@(-impossible
[11:48] {dino} ;)
[11:54] {dino} mhk sm l .75
[12:00] {Threei}  Judge in Pennsylvania has ruled against healthcare reform
[12:01] {Threei}  oh boy
[12:01] {Threei}  look at this
[12:01] {Threei}  (GE) Treasury Sec Geither at EMU meeting said to be planning to propose Germany lessen its opposition to increasing the size of the EFSF fund - financial press
[12:01] {Threei}  - Geither also may request Finland Netherlands and Slovakia lessen their resistance to dealing with the crisis
[12:01] {Threei}  I can't believe it
[12:02] {Threei}  this bonehead seriously thinks he can tell them how to fight their crisis?
[12:02] {Threei}  and propse Germany dig itself even deeper in the hole?
[12:03] {Threei}  OK... my feel is, downward time from this point on
[12:03] {Threei}  looking for TXA pullback for entry
[12:03] {Threei}  TZA
[12:04] {Threei}  now that pervious trade on it took day into green, want to make it seriously positive
[12:08] {Threei}  OK
[12:08] {Threei}  .50 break TZA
[12:09] {Threei}  stop under .30
[12:10] {Threei}  no go
[12:10] {Threei}  may take a few tries
[12:11] {Threei}  keep it to half lot
[12:15] {dino} random dance market
[12:16] {nemo} it double bottomed, now if it breaks .30 or so likely to test highs
[12:19] {larisa} kind of schisophrenic, vad says down, nemo says up and dino says random :)
[12:20] {dino} :D
[12:20] {Threei}  this is called freedom of speech...
[12:20] {Threei}  and pluralism
[12:20] {nemo} just looking at chart
[12:20] {larisa} no, it is called what I called it :)
[12:20] {nemo} choppy action
[12:21] {Threei}  schisophrenic pluralism?
[12:21] {larisa} yes, without "pluralism" :)
[12:22] {Threei}  lol
[12:23] {dino} how about just schiso
[12:23] {nemo} how about schizo
[12:24] {Threei}  {larisa} yes, with "phrenic"
[12:24] {larisa} lol
[12:24] {Threei}  see, I got it :)
[12:24] {Threei}  this SPY pullback,
[12:24] {Threei}  really having hard time telling it's merely a pullback or beginning of downward move
[12:25] {Threei}  it's very murky today
[12:27] {dino} volume dropping off it seems
[12:29] {Threei}  I have this feeling something interesting to come yet today
[12:29] {nemo} slw
[12:31] {dino} something wicked this way comes
[12:31] {nemo} Thank you Mr. Pryce
[12:31] {RonS} yoda
[12:32] {nemo} ?
[12:32] {RonS} convoluted syntax
[12:32] {nemo} title of a movie starrig Jason Robards and Jonathan Pryce
[12:33] {RonS} thought you meant vincent price...
[12:34] {nemo} then I would have spelled it "Price" instead of "Pryce"  funny...vinnie was from Texas
[12:34] {dino} and the tangents begin, lol
[12:35] {Threei} Long Setup:  TZA  .20 break
[12:36] {nemo} too funny, spy walking straight down the weekly pivot
[12:37] {Threei}  SPY loss of 117 is needed to make this trade
[12:37] {nemo} you see the pennant
[12:37] {nemo} ?
[12:37] {nemo} same on iwm
[12:37] {Threei}  yes
[12:38] {nemo} we see the same thing?
[12:38] {dino} we're going up first
[12:38] {nemo} must be schizophrenia
[12:38] {nemo} yeah, I think up also
[12:38] {Threei}  fine, you win
[12:53] {nemo} now vwap and spy are .02 apart, that's boring
[12:56] {nemo} oh..wpp is 117.08
[13:06] {dino} mhk to .05\
[13:06] {dino} to .10
[13:07] {dino} out +.35
[13:07] {Threei}  nice
[13:07] {Threei}  wtg
[13:07] {dino} ty
[13:16] {nemo} I think it gets to Friday high, then we'll see
[13:18] {dino} s/p?
[13:18] {nemo} imo
[13:18] {dino} that would be thursdays gap
[13:18] {nemo} yeah
[13:18] {dino} small one, like .40
[13:19] {dino} i can relate to that nemo, this market has been trading to gaps for months
[13:19] {nemo} maybe with pre/aftermarket data
[13:19] {nemo} the market data is a .90 gap
[13:26] {Threei}  OK, TZA 46 break?
[13:26] {Threei}  you guys tell me, nemo, dino
[13:26] {Threei}  you have better grip on direction today
[13:30] {Threei}  n help whatsoever
[13:30] {Threei} Long Setup:  TZA  46 break
[13:30] {dino} down we go soon, imo
[13:30] {dino} mind stop -.28
[13:31] {nemo} oh, stepped away
[13:31] {Threei}  suuuure
[13:31] {nemo} vwap for tza .24
[13:31] {Threei}  half out
[13:31] {Threei}  stop to .94
[13:31] {Threei}  come on TZA make our day
[13:32] {Threei}  offer 1/4 more here
[13:32] {Threei}  .25
[13:32] {Threei}  stop just unde b/e, and let's see if we can let it ride
[13:32] {Threei}  to .45 at least
[13:32] {nemo} spy probably .15-24 range
[13:32] {Threei}  depending of how it gets there maybe more
[13:33] {Threei}  will try to comment as it moves
[13:34] {Threei}  come on TZA, hold that 46
[13:35] {Threei}  nope
[13:35] {Threei}  OK
[13:35] {Threei}  not bad as it is
[13:35] {dino} hans spike
[13:35] {Threei}  no news for HANS
[13:38] {Threei}  not sure about repeating the entry
[13:38] {Threei}  46 break TZA I mean
[13:38] {patience} in gdx, slw, hgu
[13:38] {Threei}  will refrain
[13:39] {Threei}  SPY can drop or bounce here with 50/50
[13:40] {Threei}  whew
[13:40] {Threei}  glad I stayed away
[13:41] {Threei}  GDX and SLW move nicely
[13:41] {Threei}  good one patience
[13:41] {Threei}  umm... good two
[13:41] {nemo} c&h on iwm and spy 5 min.
[13:44] {Threei}  (GE) German DIW economic research institute to reduce German 2011 and 2012 forecast - German press
[13:45] {dino} idcc sm l .99
[13:45] {dino} kss to .71 thing won't move
06[13:46] * Threei is poking KSS in the ribcage with sharp stick
[13:47] {Threei}  like poking amoeba
[13:47] {nemo} her we go
[13:47] {nemo} here
[13:47] {Threei}  RIMM
[13:47] {Threei}  takeover chatter byIBM
[13:57] {Threei}  (GR) Netherlands Finance Ministry said to see Greek debt default as unavoidable - financial press
[13:57] {Threei}  finally someone said it
[14:04] {dino} somethings not right
[14:04] {dino} stop idcc -.10
[14:05] {dino} kss to .79
[14:06] {dino} out +.04
[14:07] {dino} spy sm s .60
[14:10] {_thomcbell} what is triple long SPX?
[14:13] {dino} sso?
[14:14] {dino} 2x i think
[14:16] {nemo} UPRO
[14:16] {larisa} UPRO SPXU ?
[14:16] {nemo} right
[14:16] {larisa} etfs
[14:18] {nemo} mhhhh, bull flag spy/iwm?
[14:20] {dino} stop spy -.20
[14:25] {nemo} Here's Friday high
[14:28] {dino} hfc l .42
[14:31] {dino} 1185 fri high
[14:32] {dino} hfc to .55
[14:32] {dino} to .62
[14:33] {dino} out .63, +.21
[14:49] {Threei}  TZA, want to see a pullback uner 45 for entry
[14:50] {RonS} ...hearing O tv
[14:52] {Threei}  come on TZA
[14:52] {Threei}  give us entry
[14:52] {nemo} buy the trend line
[14:52] {Threei}  .50 break is a setu yoo, just very risky
[14:52] {Threei}  setup too
[14:53] {Threei}  trend line is very murky
[14:54] {Threei}  should pull back here some more
[14:54] {Threei}  all I want here is one perfect trade, for the day to be complete
[14:55] {nemo} I'll take one to get closer to flat
[14:56] {Threei} Long Setup:  TZA  .50 break
[14:56] {nemo} that's a .30 stop
[14:56] {Threei}  stop undeer .30, target 46.10
[14:56] {Threei}  3 partials
[14:57] {Threei}  sigh
[14:58] {Threei}  oh geez
[14:58] {Threei}  news
[14:58] {RonS} FBN Fox Business Reports That The New York State Attorney General Is Investigating Lehman Brothers' Bankruptcy
[14:58] {Threei}  (EU) Brazil govt official said to state that BRIC nations are in "very preliminary" negotiations to coordinate buys of euro zone sovereign debt - financial press
[14:59] {RonS} ya, that's it...
[15:00] {nemo} who's gonna' buy our debt
[15:00] {Threei}  can you believe this crap news came out jus as TZA started working?
[15:00] {Threei}  and killed our trade
[15:00] {Threei}  market trades from headnline to headline
[15:03] {patience} out slw
[15:06] {Threei}  same scenario as yesterday:
[15:06] {Threei}  china buying italy debtr
[15:07] {Threei}  BRUC buying Euro debt
[15:07] {Threei}  when they run out of alleged debt buyers, what's next?
[15:08] {nemo} Hey, got this vodka made from potatoes in Maine-Cold River...nice flavor
[15:08] {patience} irish vodka?
[15:09] {nemo} Maine...it's a state in the US
[15:10] {nemo} Frickin' price action is like a squirrel that can't get out of the road
[15:10] {Threei}  chop chop chop
[15:10] {Threei}  who has heart to try TZA again?
[15:11] {_thomcbell} yy
[15:11] {nemo} could go to 46
[15:11] {nemo} but spy vwap only .15 away
[15:11] {Threei}  myes, but where is entry
[15:11] {nemo} it would have to be a break, but I ain't being the mole
[15:13] {Threei}  .30
[15:13] {RonS} gnk nuts
[15:14] {nemo} looks more like a DB to go north for spy IWM, but WTFK
[15:14] {Threei}  cangaroo tail TZA
[15:15] {Threei}  .15 - .30
[15:15] {Threei}  out half
[15:15] {RonS} shippers into their gaps
[15:15] {Threei}  stop to .25
[15:15] {nemo} watch spy for bounce at .30...this is nuts
[15:15] {Threei}  (GE) Germany Fin Min Schaeuble: Germany does not want a 'European super state'; Greece can solve its problems by itself - newspaper interview
[15:16] {Threei}  thank you Schaeuble
[15:16] {Threei}  out 1/4 more
[15:16] {Threei}  .72
[15:16] {nemo} ballsy in this crap
[15:17] {Threei}  I knew my trade was there somewhere
[15:17] {Threei}  come 46
[15:18] {Threei}  stop .45 for the last 1/4
[15:18] {Threei}  yes baby
[15:18] {Threei}  out .10
[15:18] {Threei}  +.80
[15:18] {dino} more random dancing
[15:18] {dino} wtg
[15:18] {_thomcbell} molto bene Vad
[15:18] {nemo} that was a dart throw...wow
[15:18] {Threei}  grand mercy
[15:19] {_thomcbell} took it here top of OR on SPY
[15:19] {Threei}  no it wasn't
[15:19] {Threei}  look at the perefect cangaroo tail
[15:19] {Threei}  15:14
[15:19] {nemo} on what time frame
[15:19] {Threei}  1 min
[15:20] {_thomcbell} i use 9:30 to 9:40 when it is this nuts
[15:20] {nemo} on tza?   I don't have that on my chart
[15:20] {Threei}  ??
[15:20] {Threei}  15:13 - 15:15
[15:20] {Threei}  with 15:14 being tail
[15:20] {nemo} nah, not on my chart
[15:21] {nemo} I have a doji, that's about .05 lower than the other candles, but nothing exxagerated
[15:22] {nemo} .03 actually
[15:23] {Threei}  you see these three candles?
[15:23] {RonS} FT: German chancellor warns members of her government to stop speculating about a Greek default, saying the future of the euro is at stake.
[15:23] {RonS} ...this caused the drop imo...
[15:24] {nemo} just sent it to you...I've noticed sometimes my charts are different from yours
[15:24] {RonS} ...this market is murderous w/ these headlines...
[15:24] {nemo} I circled those 3 minutes
[15:24] {Threei}  hey, if my charts lead to such trades, let's use mine! :)
[15:25] {larisa} and dicount all stops ? :)
[15:25] {larisa} +s
[15:25] {Threei}  why?
[15:25] {Threei}  there was clear stop level .15
[15:25] {larisa} you were stubborn today trying to get TZA, admit it :)
[15:26] {Threei}  sure
[15:26] {Threei}  on a sum, it worked
[15:26] {Threei}  and it would have worked even better of not news right when we took the tarde
[15:27] {nemo} get the email yet?
[15:27] {Threei}  yes
[15:28] {Threei}  pretty much what I see, only mine is a bit more zoomed in
[15:28] {nemo} ballsy then because that doji is only .03 below the other candle
[15:31] {Threei}  one more
[15:31] {Threei}  half lot this time
[15:31] {Threei} Long Setup:  TZA  .10 break
[15:32] {Threei}  invaldiated
[15:32] {Threei}  45 break
[15:32] {Threei}  .85 stop
[15:32] {RonS} quote of the day:  Leprechaun's in "VERY PRELIMINARY" talks to throw pots of gold at the European market !!
[15:32] {Threei}  rofl
[15:33] {patience} awesome Ron
[15:33] {Threei}  no go
[15:34] {Threei}  hakf lot was a good idea
[15:36] {dino} gotta hop, bus stop, thx all good day, good time
[15:36] {Threei}  take care dino
[15:37] {patience} back in slw, for a scalp
[15:44] {Threei}  very hectic day
[15:45] {nemo} looks like we might end on the high, another up day tomorrow
[15:45] {Threei}  honestly, not delighted by how we handled it
[15:45] {Threei}  positive but way too nervous
[15:45] {patience} actually had to work at it today...nothing came easy
[15:45] {Threei}  with too many trades and too many misses
[15:47] {Threei}  will make it tiighter tomorrow
[15:48] {nemo} lots of numbers tomorrow
[15:48] {Threei}  in the morning
[15:48] {nemo} yeah
[15:48] {Threei}  hopefull by noon Greece finally announces default and direction defines itself, lol
[15:50] {Threei}  OK guys, done for the day
[15:50] {Threei}  thank you all, take it easy
[15:50] {larisa} bye :)
[15:50] {Threei}  tomorrow will be less tenswe
[15:50] {nemo}  c u
[15:50] {patience} ty vad
[15:50] {Threei}  have a good evening, see you tomorrow
[16:01] {patience} out slw

Monday, September 12, 2011

Sep 12 2011

Nice day with just one small stop and a lot of cool wins. Catch of the Day is this textbook SLW short, chart is pretty much self-explanatory



Session Time: Mon Sep 12 00:00:00 2011
[09:04] {_shaun70} Hello again everyone
[09:04] {Threei}  good morning shaun
[09:04] {Threei}  we just start lifitng our eyelids
[09:05] {_shaun70} Hi Vad - nice to be back with you.  So far I've only been able to make 1 day of my free trial because of travel and funeral :( Good to be back though
[09:05] {Threei}  why don't we just extend it so you can take full advantage
[09:05] {_shaun70} That would be awesome Vad, thanks so much!
[09:05] {Threei}  no problem, that would only be fair
[09:06] {_shaun70} I appreciate it, thank you
[09:06] {Threei}  when system sends youy a notification of trial end, just ignore it
[09:06] {Threei}  your access will stay active
[09:07] {_shaun70} great, thanks :)
[09:19] {dino} gm all
[09:19] {Threei}  dino :)
[09:23] {Threei}  reek 1-Year Debt Yield Hits 108%
[09:23] {Threei}  Greek that was
[09:26] {ese} gm
[09:26] {larisa} gm :)
[09:26] {Threei}  ese :)
[09:26] {Threei}  larisa :)
[09:26] {larisa} vad, ese :)
[09:28] {Threei}  so far I am inclined to start with shorting bounces
[09:28] {Threei}  then we will see what shapes up
[09:29] {Threei}  FCX, possible setup is little range betwen 41 and 41.15, then short of 41 break
[09:30] {Threei}  let this hypervolstility exhaust itself
[09:31] {Threei} Short Setup: FCX  41 break
[09:31] {Threei}  stop above .15
[09:31] {Threei}  1:1
[09:31] {Threei}  like clockwork
[09:31] {dino} gaps 10716, 2044, 1120
[09:32] {Threei}  again, same setup
[09:33] {Threei}  actually, if stays under .10 this time
[09:33] {Threei}  invalidated
[09:34] {Threei}  SLW's turn
[09:34] {Threei} Short Setup: SLW  .35 break
[09:34] {Threei}  if stays under .45
[09:34] {nemo} quite the spread for slw
[09:34] {Threei}  no chance of execution
[09:34] {Threei}  teleported
[09:35] {Threei}  ugh
[09:36] {dino} brk/b flat
[09:36] {dino} nvda positive
[09:36] {dino} idcc pos
[09:36] {Threei}  lol, .20 break was long on SLW... no chance to even type that
[09:37] {Threei}  FCX shapes similarly
[09:37] {Threei} Long Setup:  FCX  .20 break
[09:37] {Threei}  stop under .10
[09:37] {Threei}  1:1
[09:37] {Threei}  half out
[09:38] {Threei}  touched 1:2, I was a bit slow on exit
[09:38] {Threei}  stop .19
[09:38] {dino} 07 all geen,
[09:38] {Threei}  1:2
[09:38] {Threei}  1/4 out
[09:39] {Threei}  stop to .25
[09:39] {dino} gj
[09:39] {Threei}  ty
[09:39] {Threei}  1:3
[09:39] {Threei}  out
[09:39] {Threei}  1:4
[09:40] {Threei}  8% Give U.S. Economy Positive Rating
[09:40] {Threei}  now we know what % of population never comes out from basement
[09:43] {Threei}  watching FCX for double top, if it goes above .40
[09:43] {Threei}  and SLW above .50
[09:43] {Threei} Short Setup: FCX  .40 break
[09:44] {Threei}  1:1
[09:44] {Threei}  things happen fast
[09:44] {nemo} yeah, hard to catch
[09:44] {Threei}  yes, no chasing if missed
[09:46] {Threei}  SLW didn't let us in
[09:48] {nemo} fcx looks long
[09:48] {Threei}  .40 break?
[09:48] {nemo} if we get volume yeah, see it's forming that trend line
[09:49] {nemo} nope
[09:49] {Threei}  lost it
[09:49] {nemo} tza .16
[09:49] {nemo} out
[09:49] {nemo} whoa
[09:50] {nemo} still wild out there
[09:50] {nemo} rinse?
[09:50] {nemo} yep
[09:50] {Threei}  probably...
[09:50] {nemo} might be a hemmrhoid pillow AND helmet day
[09:51] {dino}  sitting....
[09:52] {dino} ndx green
[09:52] {Threei}  nice recovery
[09:53] {Threei}  FCX did it after all, just with different trigger
[09:55] {Threei} Long Setup:  MDCO  .30 break
[09:55] {Threei}  half lot
[09:56] {nemo} wow, liquid stock
[09:56] {nemo} channeling Dino
[09:56] {Threei}  that's why half lot
[09:56] {Threei}  even though stop is fairly tight
[09:57] {nemo} ahhh, what is the stop .19?
[09:57] {Threei}  yeah, under .20
[09:57] {Threei}  lol
[09:57] {nemo} well, that was futile
[09:58] {Threei}  only if you manage to grab last shares at .30 which is highly questionable
[09:58] {Threei}  SPY green
[10:00] {nemo} expect spy to go to .42-60 area
[10:02] {Threei}  looking for TZA entry
[10:02] {Threei}  need pullback, desirably into .60 - .70 area
[10:05] {Threei}  hetting interested
[10:06] {Threei}  half lot long .50 break
[10:06] {Threei}  boy, the speed...
[10:07] {nemo} I think spy goes to that area before tza becomes viable
[10:07] {Threei}  SPY reaks
[10:08] {Threei}  breaks
[10:08] {Threei}  no TZA for now
[10:08] {_shaun70} I have to go chaps. Nice FCX trade - 1 from 1 :)
[10:08] {Threei}  take care shaun
[10:08] {dino} odd day
[10:08] {_shaun70} Cheers Vad :)
[10:11] {dino} qcor?
[10:11] {Threei}  I don't have news for it
[10:12] {dino} sm l .26
[10:13] {RonS} qcor filed 8k today...may be something in it....
[10:14] {dino} stop is lod break
[10:14] {ese} L CFX .61
[10:14] {Threei} Long Setup:  CAT  .50 break
[10:14] {Threei}  half lot
[10:14] {Threei}  if holding .35
[10:15] {ese} kinda one of your types dino
[10:15] {ese} cfx
[10:15] {dino} takeover?
[10:16] {dino} qcor stop -.28
[10:16] {ese} bought another company
[10:16] {nemo} if it drops .35 likely goes under 83
[10:17] {ese} out 1/2 cfx .70 +.09
[10:17] {ese} stopped balance even
[10:19] {dino} qcor sm l .00
[10:22] {Threei} Long Setup:  TZA  49 break
[10:23] {Threei}  1;1
[10:24] {Threei}  stop was under .85
[10:24] {Threei}  1:2
[10:25] {Threei}  at least this one gave time for entry
[10:26] {ese} strong looking to
[10:26] {dino} out qcor .50, +.50
[10:26] {Threei}  wtg
[10:26] {dino} ty
[10:26] {ese} perfect!
[10:26] {Threei}  dino found his victim
[10:26] {ese} finds many victums
[10:27] {Threei}  stalked it and hit it over the head in the dark back
[10:27] {Threei}  alley
[10:27] {ese} yup
[10:27] {dino} lol
[10:28] {Threei}  in total accordance with latest post on educaional blog, read it when morning rush is over
[10:28] {Threei}  http://blog.realitytrader.com/2011/09/trade-what-you-can-read.html
[10:29] {ese} well......my new reality is not much time on the board this semester all......am outta here...cya tomorow
[10:32] {_roger99} fcx
[10:32] {Threei}  looking at it too roger
[10:32] {Threei}  double bottom or breakdown
[10:32] {dino} cya es
[10:33] {Threei} Long Setup:  FCX  .20 break
[10:33] {Threei}  if stays above .20
[10:33] {Threei}  .10 sorry
[10:33] {Threei}  10:33 doji makes this setup
[10:34] {Threei}  target 1:2
[10:34] {nemo} market weakening
[10:35] {Threei}  two partials, half n'half
[10:37] {Threei}  1:1
[10:38] {Threei}  textbook setup, good to see this kind working
[10:39] {Threei}  all elements of legit double bottom
[10:39] {Threei}  BBs, volume, doji
[10:39] {Threei}  and downward tail aftet doji
[10:39] {Threei}  I can't stop marveling, lol
[10:41] {dino} slllaaaaapppp
[10:42] {Threei}  why, oh why...
[10:43] {dino} trying to snap you out of your amazement
[10:43] {Threei}  but I like my delusions
[10:44] {Threei}  I prefer to remain submerged in them
[10:45] {Threei}  larisa won't let me use word panic... dino won't let me stay amazed... where poor peasant to go...
[10:47] {dino} home
[10:48] {RonS} wlt into its gap...
[10:49] {RonS} dragging all coal w/ it
[10:51] {dino} nvda l .00
[10:52] {dino} cat sm l .25
[10:56] {dino} strength brk/b, mtrx, mind, titn, vrsn, giii
[10:57] {dino} nvda
[11:01] {Threei} Long Setup:  TNA  .60 break
[11:01] {Threei}  half lot
[11:02] {Threei}  if stays above .45
[11:05] {Threei}  target .90
[11:05] {RonS} unreal...or maybe too often real...O tv now
[11:05] {_roger99} did u sell any ?
[11:05] {Threei}  1:1
[11:06] {Threei}  half out
[11:06] {Threei}  following standard procedure roger
[11:06] {Threei}  out in full
[11:09] {RonS} O off now
[11:09] {dino} kr l .50
[11:10] {dino} obamination, oblahblah, oconstantcampaigner, shall i go on
[11:12] {Threei}  International Institute of Finance (IIF): Have not seen a casual link between speculation and commodity prices; cautions the G20 against placing restrictions on derivatives trading in commodities such as position limi
[11:12] {Threei}  - Sees risks that restrictions could hurt market liquidity
[11:13] {RonS} wow...gs has been sub 100...uh...is
[11:14] {dino} idcc sm l .70 ave
[11:16] {dino} out nvda .13, +.13
[11:16] {dino} out idcc .00, +.30
[11:16] {Threei}  nice
[11:16] {dino} ty
[11:18] {dino} joyg sm l .50
[11:21] {dino} idcc sm l .77
[11:22] {dino} out .10, +.33
[11:38] {dino} out joyg ..92, +.42
[11:39] {dino} out cat .69, +.44
[11:39] {dino} kr stop -.11
[11:40] {Threei}  LTBR
[11:40] {Threei}  halt
[11:40] {Threei}  strange news
[11:40] {Threei}  - LTBR announced Lightbridge's Malone to Chair WNA's Newly-Formed Fuel Technology Working Group.
[11:40] {Threei}  - As chair of the Working Group, Malone will lead a body of members from industry organizations that include representatives of the world's leading nuclear fuel companies and utilities.
[11:41] {Threei}  so what?
[11:41] {Threei}  I mean, why would it send a stock from 2.90 to 3.56?
[11:41] {RonS} knee jerk short cover?
[11:42] {dino} dk
[11:42] {Threei}  plus very very fat finger
[11:42] {dino} damn out too soon cat, joyg
[11:54] {dino} out mdco .73 ave, +.43, ty 3i for heads up
[11:55] {Threei}  :)
[12:04] {_roger99} Great Job today Three
[12:04] {_roger99} my first day
[12:04] {_roger99} is it always like that ?
[12:04] {Threei}  hmm
[12:04] {Threei}  well
[12:05] {nemo} no
[12:05] {Threei}  I wish I could say yes, but in the fact is, it's only about 4 days out of 5
[12:05] {_roger99} not bad
[12:05] {nemo} Very consistent over time, and he can have some ridiculously long winning runs
[12:05] {Threei}  and sometimes losing clusters
[12:05] {Threei}  but they are much shirter
[12:05] {nemo} longest I've observed is 3 days in a row
[12:06] {Threei}  really?
[12:06] {Threei}  never monitored that :)
[12:06] {nemo} Pretty much...you usually have one once a year sometimes twice
[12:06] {Threei}  sounds good, expecially considering that winning streaks arfe sometimes several weeks in a row
[12:06] {nemo} I'll never forget the Fall of 2008
[12:07] {Threei}  oh yes... that was a beauty
[12:07] {nemo} You whistled through the graveyard as the corpses piled up
[12:07] {Threei}  couple months of no single losing day
[12:07] {_roger99} did u make money Fall 2008  ?
[12:07] {nemo} Yeah, remember come in limit down one morning, wow
[12:07] {nemo} yeah, for 2 months straight not a single losing day
[12:07] {_roger99} wow
[12:07] {Threei}  every day of all that debacle woger
[12:07] {Threei}  we normally do very well on red days
[12:08] {_roger99} i c
[12:08] {Threei}  on green days, we do well if it's back and forth day, with normal volatility
[12:08] {_shaun70} Hello everyone.  Am back.  Have I missed a good morning session?
[12:08] {Threei}  slow gradual climb days are usually ones where we just don't find our plays
[12:09] {Threei}  pretty much shaun... one stop
[12:09] {Threei}  on half lot
[12:09] {Threei}  the rest worked like charm
[12:09] {_shaun70} Awesome!
[12:09] {Threei}  and dino beat the market over the head with a club
[12:09] {_shaun70} Dino-soar :)
[12:10] {Threei}  he does get T-rexy sometimes
[12:10] {Threei}  watching SLW
[12:10] {Threei}  interested in possible breakdown
[12:11] {Threei}  .70 would be a short trigger
[12:11] {Threei}  trying to find a range for stop/invalidation placement
[12:12] {Threei}  so far it's .85
[12:12] {Threei}  but I would be happier with .80
[12:12] {dino} :D
[12:13] {Threei}  let's do it this way
[12:13] {Threei} Short Setup: SLW  .70, if stays under .80 for scalpers, .85 for day traders
[12:13] {Threei}  of course if you like the idea, you can take aggressive entry here with tight stop .86
[12:14] {Threei}  that's discretionary
[12:17] {nemo} .75 trigger?
[12:18] {Threei}  regular trigger is .70
[12:18] {nemo} look bid
[12:18] {Threei}  aggressive is whereevr you chose it to be
[12:18] {Threei}  and .75 with its bid is a good spot
[12:18] {nemo} having said that indexes look like they might firm up a bit
[12:19] {Threei}  well, SLW is not exactly follower of major indices lately
[12:19] {nemo} just sayin'
[12:19] {nemo} .74
[12:22] {dino} szym spike
[12:22] {nemo} 1/2 .64
[12:24] {dino} joyg gap fill
[12:24] {dino} sm l .75
[12:26] {Threei}  zzzzere you go
[12:26] {Threei}  1:1 scalpers
[12:26] {Threei}  1:1 day traders
[12:30] {_roger99} gj Dino on joyg
[12:31] {dino} ty
[12:31] {dino} still in
[12:31] {_roger99} took .25 profit....all out
[12:32] {dino} gj
[12:32] {dino} should've too
[12:35] {dino} retail showing strength
[12:36] {RonS} ha! 3i on stocktwits...tux and pipe and all
[12:38] {Threei}  and you still don't follow me??
[12:38] {Threei}  :)
[12:38] {nemo} http://www.goupstate.com/article/20110912/WIRE/110919948/1088/sports?Title=-Spartacus-star-Whitfield-dies-of-lymphoma-at-39-
[12:39] {RonS} didn't know you were there...somehow popped up on my home page...am now
[12:40] {Threei}  that's because I wasn't, up to this weekend, lol
[12:40] {Threei}  the vortex of social media slowly drags me in...
[12:41] {dino} joyg stop -.25
[12:41] {RonS} now i remember...you popped up because i follow slw and you mentioned it
[12:41] {Threei}  :)
[12:41] {Threei}  SLW is dying nicely
[12:42] {Threei}  1:2 baby
[12:47] {Threei}  out in full
[12:47] {_shaun70} :)
[12:48] {nemo} tna long coming up
[12:48] {nemo} looking for spy to hold .60
[12:51] {nemo} l .96
[12:51] {nemo} out under .85
[12:52] {nemo} if spy looks like it's going to stb, I'm out too
[12:52] {dino} cat sm l .75
[12:53] {nemo} 1/3 @.10
[12:54] {nemo} stop just under be
[12:59] {nemo} bought back .06, full lot
[13:00] {nemo} took it off .19
[13:01] {nemo} not sure yet, still have original stop, but thinking about moving it up to .99
[13:02] {nemo} wow, all of .04
[13:02] {nemo} looking for spy to go to vwap
[13:03] {nemo} took half left at .30
[13:03] {nemo} last partial to go
[13:05] {nemo} stop .14
[13:05] {dino} gs spike
[13:09] {dino} out cat .05, +.30
[13:20] {nemo} might have another long coming if spy holds here
[13:26] {Threei}  Germany Fin Min Schaeuble: There can be no discounts in Greece's austerity programs, government needs to be ready for everything
[13:27] {nemo} tna .06
[13:27] {nemo} stop .under .95
[13:28] {nemo} probably should be under .90, but, don't want to give it that much
[13:28] {nemo} probably should take a tza long as a hedge also ;)
[13:28] {nemo} big bids .94
[13:29] {nemo} oh well
[13:32] {Threei}  - Reiterates current treaties do not allow excluding Greece from the euro zone.
[13:32] {Threei}  lol
[13:32] {Threei}  Greece: oh good, we will do it on our own schedule
[13:35] {Threei}  look at this
[13:35] {Threei}  http://www.bloomberg.com/apps/quote?ticker=GGGB1YR:IND
[13:37] {RonS} ...coming to a U.S. near you...
[13:37] {Threei}  god, I hope not
[13:38] {Threei}  if this happens in US, it's the end of the world as we know it
[13:38] {RonS} yep
[13:39] {dino} joyg sm l .-5% since wed
[13:39] {RonS} -5% since friday
[13:41] {Threei}  always disliked Krugman but after this weekend, I can't stand the guy
[13:41] {dino} disregard post.
[13:46] {dino} gpor sm l ave .40
[13:51] {Threei}  Default rates on student loans said to have risen to near 9% from 7% over the course of 2 years through to Sept 2020 - financial press
[13:54] {dino} nvda l .90
[14:06] {dino} stop gpor -.20
[14:06] {Threei}  (US) Rep Boehner (R-OH) Spokesman: President Obama's tax proposals are not bipartisan, have been opposed by both parties in the past
[14:07] {RonS} hummm, doesn't that make them bipartisan?
[14:08] {Threei}  lol
[14:08] {Threei}  good point
[14:08] {Threei}  I guess they opposed different proposals
[14:11] {Threei}  what the...
[14:11] {Threei}  COUGAR SIGHTING! West Saanich at McTavish.
[14:11] {Threei}  it's 3 min drive from me
[14:11] {Threei}  cougars encroach
[14:12] {Threei}  ok... nemo
[14:12] {Threei}  SPY is about to crash?
[14:12] {Threei}  lose 114 and go into panic mode?
[14:17] {dino} gpor last try sm l .32
[14:36] {Threei}  I don't have any news for this spike
[14:36] {dino} spike
[14:36] {nemo} they're fighting to get it above the bearflag support on the daily
[14:36] {dino} out gpor .74, +.42
[14:37] {dino} out nvda .07, +.17
[14:46] {dino} i said it before and i'll say it again, "odd day"
[14:48] {RonS} this was it i guess...ITALY IN TALKS WITH CHINA INVESTMENT TO BUY BONDS:, ASSETS: FT
[14:49] {dino} you mean china to buy italy, lol
[14:50] {RonS} ...sending marco polo to broker the deal...
[14:50] {dino} check this out, 1st time s/p crossed 1200 was in 1998, we have been in this range for 13 years
[14:56] {Threei}  Chnia President Hu reiterated that China is confident in the euro and will continue to invest in Europe. Note that on July 18th, Italy's Foreign Minister said that he was speaking with China on raising investment in Italy
[14:57] {Threei}  just talks
[14:57] {Threei}  unless China is nowhere as smart as they say it is
[14:57] {RonS} sheesh, so the ft re-circulates a story from july and we get this pop?
[14:58] {Threei}  because the only thing to be confident about Europ is that it's done
[14:58] {Threei}  like a roast after 4 hours in oven
[15:00] {RonS} heard that greece will not replace the euro w/ the drachma, but instead the ouzo...because the only thing left to do will be to drink...
[15:00] {Threei}  makes sense to me
[15:03] {Threei}   guess this headline sent market down:
[15:03] {Threei}  (EU) US Treasury Sec Geithner plans to visit Poliday for a round of Eurogroup meetings on Friday
[15:03] {Threei}  thought of Timmy coming to help Europe killed last hope
[15:09] {dino} i think timmy is going to push them to open up the euro printing presses
[15:12] {Threei}  I doubt they will
[15:12] {Threei}  not because they don't want to, they do
[15:13] {Threei}  but there is no politival appetite for it among the masses, and political cohesiveness in Europe is nowhere near one in US
[15:13] {Threei}  they just won't be able to convince their respective taxpayers to go for it
[15:14] {dino} they don't need the taxpayers, just the politicians
[15:15] {dino} but again, either print or default
[15:15] {Threei}  not Europian situation
[15:15] {Threei}  politicians will be thrown out if try that
[15:16] {Threei}  a lot of opposition parties get huge mileage now by voicing disagreement with printing and bailing out
[15:16] {dino} i understand, but only two ways out imo
[15:17] {Threei}  my strong suspicion is, default it is
[15:17] {Threei}  continuous bailing out and printing requires political unity
[15:18] {Threei}  Europe has not enough of that
[15:18] {Threei}  one of the headlines overnight was:
[15:19] {Threei}  Merkel asked citizens to be patient with Greece
[15:19] {Threei}  think they will? :)
[15:19] {Threei}  or if they agree to be more ptient and require collateral etcm will Greece accept that?
[15:20] {Threei}  they are headed for series of conflicts, and it's not going to be pretty
[15:20] {dino} its an either / or. most likely greece defaults, imo markets have just about priced this in
[15:23] {nemo} no bad news tonight, think tomorrow up day
[15:23] {Threei}  well, this I've no idea how to calculate :)
[15:23] {Threei}  I mean the "market priced it in" part
[15:23] {nemo} call Magoo, he'll know how to do it
[15:24] {dino} coin toss nemo
[15:24] {nemo} what, on Magoo?
[15:24] {Threei}  magoo, maybe... he calculated once how to divide a bottle of vodka by three drinkers without measurement
[15:24] {dino} no, thats how he'd do it, a ceasars casino coin
[15:25] {nemo} dcc dino
[15:25] {Threei}  know the sound liquid makes if you turn the full bottle upside down?
[15:25] {nemo} yeah, none if it's really full
[15:25] {Threei}  well, slight incline
[15:25] {Threei}  to let the air out
[15:25] {nemo} o.k.
[15:26] {Threei}  bottle of vodka makes 21 of such sounds till empty... 7 in each glass, and you get perfetc division {G}
[15:26] {dino} lol
[15:26] {nemo} dcc again, dino, sorry
[15:28] {nemo} So. Larisa, close in the green?
[15:29] {larisa} do not care today :)
[15:29] {nemo} valium?
[15:30] {larisa} a lot
[15:30] {nemo} whites, yellows, blues, or reds?
[15:31] {dino} oh, btw. j e t s. sneaked out a victory last night
[15:31] {nemo} yeah, we talked about Romo last week, but....Burress is going to be a matchup nightmare
[15:32] {dino} looked good last night, guy is huge 6'7" i think
[15:32] {nemo} 6' 5"
[15:32] {nemo} you see him level that defensive back...ow
[15:33] {dino} yeah, some (as mr t would say) pain
[15:33] {nemo} revamped Pat's D tonight
[15:34] {dino} you should blow miami away
[15:34] {nemo} one would think, but the offensive line is iffy
[15:34] {dino} back in 15, bus stop calls
[15:34] {Threei}  so, valium explains why larisa let me get away with "panic and crash" comments today?
[15:34] {RonS} the pats better run it, elvis & austin are gonna pancake brady
[15:36] {nemo} probably running and screens early
[15:36] {nemo} get them to back off
[15:37] {nemo} Right tackle will be the rookie tonight and the right guard is great but new
[15:38] {RonS} austin is a rookie but he really already knows how to get to the qb
[15:39] {Threei}  Euro vs US Dollar Extending gains above $1.36 following financial press report of Italy-China talks on Italian govt bonds
[15:39] {Threei}  yeah, that's what theya ttribute the bounce to
[15:43] {RonS} idiot here nemo, was talkin broncos...had no idea there are two games tonight
[15:43] {RonS} ugh, raiders...
[15:44] {nemo} yeah, I was wondering
[15:51] {Threei}  hope springs eternal, eh?
[15:52] {Threei}  going green on hopes China rescues EU?
[15:52] {Threei}  lol
[15:53] {nemo} no, this is technical run to the pivot points
[15:59] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow
[16:00] {larisa} bye :)
[16:01] {patience} ty Vad

Friday, June 4, 2010

Jun 04 2010

The cleanest trade of the day was found by one of room members. Really highly rewarding for me when this happens. RIMM DBI type of short play, textbook setup. Notice that one of the arrows on the chart shows practically the same setup forming and working earlier, before we started watching it. I just pointed it with an arrow, not outlining the details of setup - use it for practice purposes, find the trigger and stop level.


Uneven day for us, as market has stalled for a long time rendering much of the day inactive. We spotted the main trend right though, utilizing it with FAZ long on 16 break and other shorts plays.

Session Time: Fri Jun 04 00:00:00 2010

[08:11] {Threei} US) Preview: May Unemployment Rate data due out at 08:30ET (12:30 GMT)
[08:11] {Threei} - Consensus expectations at 9.8%e v 9.9% prior (analyst range of estimates seen from 9.6% to 10.0%)
[08:15] {magoo} morning
[08:15] {Threei} hey mags
[08:15] {nemo} mags :)
[08:21] {Threei} OTP.HU Trading halted
[08:21] {Threei} - Note: OTP bank is 25% weighted in main Hungary index
[08:21] {Threei} let the panic begin?
[08:23] {magoo} i know its speculation, but thoughts for today? good numbers=pop, drop, pop
[08:24] {nemo} probably depends on how many are considered census jobs, and how many are real private sector jobs
[08:24] {Threei} my working assumption is:
[08:24] {nemo} drop because it was leaked it would be good?
[08:24] {Threei} any attemot to rally will be used to sell as much as possible,
[08:24] {nemo} this hungary news makes it more dangerous to go long into the weekend
[08:24] {Threei} Europian situation being the biggest factor,
[08:24] {nemo} :)
[08:25] {nemo} not as dumb as I look...
[08:25] {Threei} since contagion is not likely to be conotained
[08:25] {Threei} and these job numbers can't be taken seriously
[08:25] {Threei} I mean, in context of a sneaky bull market they would be bought, of course
[08:26] {Threei} but we are rather in "be ready to panic" environment
[08:26] {Threei} EUR/USD Brown Brothers' Head of Currency Strat Chandler: Euro headed much lower
[08:27] {Threei} EUR/USD (FR) French PM spokesperson: Comments made by Fillon on euro did not refer to parity
[08:27] {Threei} - Comments refered to euro rate evolution
[08:30] {nemo} lookout below
[08:30] {Threei} US) MAY CHANGE IN NONFARM PAYROLLS: 431K V 536KE; CHANGE IN PRIVATE PAYROLLS: 41K V 180KE
[08:30] {Threei} US) MAY AVERAGE HOURLY EARNINGS M/M: 0.3% V 0.1%E; AVERAGE WEEKLY HOURS: 34.2V 34.1E
[08:30] {Threei} - Prior Average Hourly Earnings MoM revised from 0.0% to %
[08:30] {nemo} owwwwwwwwww
[08:31] {nemo} so...government told the truth...omfg
[08:32] {magoo} dow down 161
[08:32] {Threei} how's that prediction of economy works for you, mr president?
[08:34] {nemo} too early to start drinking?
[08:35] {nemo} volume starting to come into faz
[08:38] {magoo} how could idiots gov't leak "big numbers"?
[08:38] {Threei} ummmm
[08:38] {magoo} they rose expectations for a shit number
[08:38] {Threei} choosing between answers, I feel like a kid in a candy store mags
[08:39] {magoo} :)
[08:39] {Threei} god, I wish you guys spoke russian
[08:39] {Threei} english is not rich enough in this department
[08:40] {magoo} jesus, saying its all the census employees
[08:40] {magoo} neg numbers when completed
[08:40] {Threei} yes
[08:40] {Threei} - Census related hiring: +411K v +66K prior
[08:41] {magoo} short vxx here vad?scalp
[08:41] {nemo} what's worse, those census jobs are not just double counted, many are counted as many as 10 times
[08:41] {Threei} MAY CHANGE IN NONFARM PAYROLLS: 431K V 536KE; CHANGE IN PRIVATE PAYROLLS: 41K V 180KE
[08:41] {Threei} - Change in Manufacturing payrolls: 29K v 33Ke
[08:41] {nemo} the private payroll is the killer
[08:41] {Threei} mags, VXX is not really a good tracker
[08:42] {Threei} and shakes out so violently and unpredicatble, it's a horror to trade
[08:42] {Threei} - Prior Private payrolls revised lower from 231K to 218K (widely expected to be revised higher)
[08:42] {Threei} yikes
[08:44] {Threei} didn't we hear quite a few times from the president lately that most hiring occurs in private sector?
[08:45] {Threei} U.S. nonfarm payrolls expanded by a seasonally adjusted 431,000 in May, but virtually all the new jobs were temporary jobs at the U.S. Census, leaving private-sector hiring very weak in May, the Labor Department reported Friday. Excluding 411,000 temporary Census workers, payrolls rose by 20,000 in May. According to the survey of 400,000 business establishments, private-sector payrolls increased by 41,000, the fifth straight gain. The unemployment rate fell to a seasonally adjusted 9.7% in May from 9.9% in April, according to a separate survey of 60,000 households. The decline wasn't particularly good news, however, because the drop was due to 322,000 people dropping out of the labor force."
[08:45] {dptl} good morning
[08:45] {Threei} dp :)
[09:00] {Threei} EU) France Fin Min Lagarde: G20 has been reassured by the European rescue package
[09:00] {Threei} - Reiterates euro is a credible currency
[09:00] {Threei} - Says ECB has acted responsibly
[09:00] {Threei} - Reiterates euro is a credible currency {--- yep
[09:00] {Threei} so credible that there is a need to reiterate this point every single day
[09:00] {Threei} multiple times
[09:01] {Threei} and banks needed no more capital
[09:03] {Threei} British Petroleum plc Future decisions on dividend will be decided by the board
[09:03] {Threei} - Has spent over $1B over the oil spill;
[09:03] {Threei} - Says there is still much to be done on the
[09:03] {Threei} - Long-term environmental costs will be spread over the years
[09:03] {Threei} - Is prepared to meet costs on environmental, claims and litigations
[09:05] {Threei} (HU) Goldman analyst: Comments about a "Greece-like crisis" in Hungary do not hold up; Hungary is unlikely to abandon its IMF program (timing uncertain)
[09:05] {Threei} - Expects Fidesz to continue the prior administration's policies
[09:05] {Threei} ***Note that in 2008 Hungary agreed to deficit targets when it obtained a 20B bailout from the IMF, the European Union and the World Bank
[09:05] {dino} gm all, obamination blew it again w/jobs hint
[09:06] {Threei} yup
[09:06] {Threei} big time
[09:06] {Threei} BP dump continues
[09:07] {dino} guy is clueless
[09:08] {magoo} BP shortable today vad, i checked
[09:10] {dino} mind the gaps
[09:10] {dino} 5/26; 9974, 1796, 1067 & 1070 6/1
[09:11] {Threei} I did some tracking job for you, as a matter of progress report
[09:11] {Threei} according to my observations,
[09:11] {Threei} within two weeks span,
[09:11] {Threei} he went from "frustrated"
[09:11] {Threei} to "angry"
[09:11] {Threei} climaxing today at "furious"
[09:12] {Threei} well, at least I hope it's a climax
[09:12] {Threei} because what's next, blowing a vein?
[09:14] {RonS} gm all- what is with the strength in the airlines?
[09:15] {RonS} my trip last week was an absolute horror show
[09:15] {Threei} hi ron
[09:15] {Threei} what happened?
[09:16] {Threei} I see airlines in red
[09:16] {RonS} 2 planes had mechanical failure...4 1/2 hr delay...missed connection...overnight in SF w/o bag
[09:16] {Threei} yikes
[09:17] {RonS} 2 hr customer service line...50 min hotel check-in
[09:18] {RonS} uaua pilot told me that they have stripped the fleet to the point they are running remaining 24/7 and mechanical probs are coming up all over the place
[09:19] {nemo} I'm either driving or taking trains from now on
[09:19] {dino} +431k headline, govt hires +390k, birth/death adj -215k, leaves -174k private hiring. is obamaination smoking "crack" talking about strong jobs on wed.?
[09:19] {lasertrev} gm
[09:19] {RonS} TSA is an absolute joke...you can take lighters on planes now
[09:20] {shorty} moring all
[09:21] {RonS} TSA could not dispose of the lighters per EPA w/o hazmat...so they chucked it
[09:21] {dino} lol
[09:22] {RonS} kafkaesque
[09:22] {Threei} trev :)
[09:27] {RonS} ya know the real story this week is that the Euro banks are not lending to one another, and that the corp credit market is frozen
[09:27] {RonS} TED spread has doubled in a month
[09:30] {jfjf64} mornin
[09:31] {Threei} jf :)
[09:32] {Threei} Short Setup: LVS .35
[09:32] {Threei} if stays under .45
[09:32] {Threei} invalidated
[09:34] {Threei} Short Setup: BP .75 break
[09:35] {Threei} stop above .85
[09:35] {Threei} invalidated
[09:35] {Threei} shrug
[09:35] {shorty} stopped
[09:35] {jfjf64} deep breath
[09:35] {Threei} did it trigger?
[09:36] {shorty} ya .74
[09:36] {Threei} didn't see it typing
[09:36] {dino} guess who's coming on tv
[09:36] {nemo} winona ryder
[09:36] {Threei} (US) White House Advisor Romer: Jobs growth is moving in an upward trajectory
[09:36] {Threei} yup
[09:37] {dino} "new math" i guess
[09:39] {Threei} Long Setup: WFC .25
[09:39] {Threei} if stays above .20
[09:39] {Threei} target about 1:2 - 1:3
[09:40] {magoo} in
[09:41] {Threei} if FAS blows through 23, could be more
[09:41] {Threei} over 1:1
[09:42] {Threei} FAS broke
[09:42] {dino} fdx sm l .29
[09:43] {Threei} a litle follow through would be nice
[09:43] {magoo} LVS sick lately
[09:43] {magoo} strongest ever
[09:43] {Threei} half out .34
[09:44] {Threei} out second half
[09:44] {dino} sheesh, he brought joe w/him
[09:44] {Threei} scalpers win
[09:44] {jfjf64} that wdd be I
[09:44] {jfjf64} TY
[09:44] {Threei} sure
[09:45] {nemo} I'm impressed jf
[09:45] {jfjf64} quick on sell
[09:46] {jfjf64} cost me plenty though
[09:46] {nemo} no, your use of pronouns with an intransitive verb
[09:46] {dino} he's bragging about the jobs report, unbelievable\
[09:46] {nemo} market retracing as his nose grows
[09:47] {jfjf64} lvs
[09:48] {jfjf64} any read vad
[09:48] {Threei} not yet
[09:48] {Threei} but watching
[09:49] {jfjf64} that last leg down nicee but no clear support for entry
[09:50] {jfjf64} grrrrrrrrrrrrrrr
[09:50] {Threei} just jumped back up with no clear entry
[09:50] {jfjf64} yes
[09:50] {jfjf64} thought i mentioned that sensi
[09:50] {jfjf64} lol
[09:51] {nemo} go wax off jf
[09:51] {Threei} I don't read what I say
[09:51] {Threei} you want me to rfead what others say?
[09:51] {Threei} here, I tried and read for once, look what it is:
[09:51] {Threei} (US) US President Obama: Jobs report data shows the progress in the recovering economy, many jobs were in fact temporary census positions
[09:51] {jfjf64} nemo that not nice
[09:51] {dino} clh gap fill
[09:51] {Threei} now wait for my puking reflex to go away
[09:52] {nemo} what were you expecting from me jf?
[09:52] {dino} market does not careanymore, going up
[09:52] {jfjf64} where my frind les
[09:53] {jfjf64} put ya lvs hat on 3i
[09:54] {Threei} .27 long
[09:54] {Threei} if holding .20
[09:54] {dino} clh sm l .73 thin
[09:54] {nemo} spy probably going to 109.50
[09:55] {Threei} no go
[09:55] {RonS} akam?
[09:55] {jfjf64} its early
[09:55] {shorty} would you call that a double top on LVS Threei?
[09:55] {dino} china plays hold well, pwrd, rino, cagc, ctrp
[09:55] {nemo} lvs bounce at .10 or .00?
[09:55] {Threei} unconfirmed so far
[09:55] {Threei} but yes
[09:55] {shorty} ty
[09:56] {Threei} not really tradeable, Ron
[09:56] {Threei} AKAM I mean
[09:56] {Threei} spread is jumpy, can get thin suddenly
[09:56] {dino} ferts not bad either imo
[09:57] {RonS} thx
[09:58] {shorty} LVS short .09
[10:00] {jfjf64} 25.10 lot of resistance yest lvs
[10:00] {shorty} out .93
[10:00] {jfjf64} correct
[10:02] {Les} .
[10:02] {jfjf64} les what up ppal
[10:02] {Les} banned from mibbit, but not here. go figure?
[10:02] {shorty} weird
[10:03] {Threei} lol
[10:03] {Threei} mibbit has no restraints of its own
[10:03] {jfjf64} vads way of messin with us
[10:03] {Threei} it's just the way to connect
[10:04] {Les} FAZ .60 with a .55 stop? if holding
[10:04] {Threei} LVS
[10:04] {Threei} 25 break
[10:04] {Threei} if holding .90 obviously
[10:04] {Threei} invalidated
[10:05] {Threei} can't tell on FAZ
[10:05] {Les} l faz .61 stop under .55
[10:05] {Threei} it has no setup of its own here, and I don't have firm grip on market overall at the moment
[10:05] {Les} ok
[10:06] {dino} fdx stopped
[10:06] {Les} 1:1 I'll take it
[10:06] {Threei} why not
[10:07] {Threei} kind of free money
[10:07] {Les} you are right market wishy washy here
[10:07] {Threei} looking at BP
[10:07] {Threei} maybe we can find short entry finally
[10:08] {Threei} 38 break...
[10:08] {Threei} so-so, but the only thing I see here
[10:08] {shorty} in .98
[10:08] {Threei} stop above .10
[10:08] {shorty} ok
[10:09] {Threei} nah
[10:09] {shorty} done
[10:09] {RonS} BP's cap funneling oil to the surface-Coast Guard 06/04 08:07 AM
[10:09] {Les} and its toxic chemicals disperse it to four corners of American beaches?
[10:10] {Les} sounds like good plan
[10:10] {jfjf64} lvs broke 25
[10:10] {jfjf64} no trigger
[10:10] {jfjf64} grrrrrrrrrrrrrrr
[10:10] {Threei} better yet - oil is predicted to reach Europe, Les
[10:10] {shorty} caught lvs .01 out .06 then .11
[10:10] {Les} well Mediterranean is already screwed
[10:11] {jfjf64} careful shorty
[10:11] {Les} they could really screw spanish economy and close their beaches too... :)
[10:12] {shorty} Trying jfj64. Keeping my stops.
[10:13] {Threei} feels up to me...
[10:14] {jfjf64} eca 5 min looks good
[10:14] {Threei} LVS
[10:14] {dino} sm l ups .75
[10:15] {Threei} lol... general feeling of market gathering for upward thrust was right, SPY and FAS went up,
[10:15] {jfjf64} lvs??
[10:15] {Threei} but no setup to use at all
[10:15] {Les} l crus .03 look at daily
[10:15] {jfjf64} .15 break
[10:16] {RonS} gs green
[10:17] {Threei} GS Ticks higher as SEC settlement chatter circulates again
[10:17] {Threei} - Note: Goldman has until the middle of June to respond to the SEC's charges. (143.52, -0.52, -0.36%) (related XLF )
[10:19] {Threei} IMO,
[10:19] {Threei} market, with all the headfakes and shakeouts wants higher today
[10:20] {Threei} FAS wants .40 - .50, at least
[10:20] {Threei} problem is, I don't see clear entries
[10:20] {dino} feels that way
[10:20] {larisa} men and their feelings :)
[10:21] {Threei} yeah, we are famous for that :)
[10:21] {RonS} ...it's fun being sensitive :D
[10:22] {RonS} dino, do gap fill?
[10:22] {Threei} if willing to start trying:
[10:22] {Threei} FAS
[10:22] {Threei} 23
[10:22] {Threei} if holding .90
[10:23] {Threei} not a scalp for me
[10:23] {dino} cat sm l .75
[10:24] {dino} lol lari
[10:24] {dino} no ron
[10:25] {Threei} over 1:1
[10:26] {Threei} stop to .95 for second haf;
[10:26] {ese} good morning....welcome to my nightmare......parent phone calls and emails to deal with at 6am
[10:26] {Threei} yikes
[10:26] {Threei} hi ese
[10:26] {ese} hey vad
[10:27] {Threei} next push should be to over .20
[10:27] {Threei} plan is to sell 1/4 somewhere in .25 vicinity
[10:27] {Threei} and last peice closer to .40 - .50
[10:28] {Threei} just no shakeouts pls
[10:29] {Threei} with 13 cents banked and 4 cents risk, I think it's worth it
[10:29] {Threei} vs taking a scalp I mean
[10:31] {Threei} wolves decided otherwise
[10:32] {ese} L pten .62
[10:32] {Les} half out crus .10 +.07
[10:33] {Threei} did I just hear this for real?
[10:34] {Threei} "I would love to spend my time venting and yelling at people... but this is not the job I was elected to do"
[10:34] {nemo} ?
[10:34] {nemo} omg
[10:34] {Threei} exact quote
[10:35] {Les} he thinks people want him to get mad at others?
[10:35] {Les} doesn't realise people are mad at him
[10:37] {Threei} SPY and FAS lost direct connection
[10:37] {Threei} there is some of course but not as close as used to be
[10:37] {Les} another quarter Crus sold .20
[10:37] {dino} a clueless egomaniac
[10:40] {Les} anyone go for CRUS?
[10:42] {dino} scanners all green
[10:42] {Threei} CRUS nice find
[10:43] {Les} 1:3 all out CRUS
[10:49] {Threei} Long Setup: AIG half lot 35 break
[10:49] {Threei} if stays abive .90
[10:50] {nemo} lvs completing wedge
[10:51] {Threei} AIG's holding very well, now needs some market help
[10:52] {dino} problem is day 2 started
[10:53] {jfjf64} 3 centt spread aig
[10:54] {Threei} sigh
[10:54] {Threei} no help
[10:55] {nemo} and then snaps right back
[10:55] {nemo} volumes are solid
[10:59] {jfjf64} think start drinkin early todayyyyyyyyyyyyy
[11:00] {nemo} [08:34] {nemo} too early to start drinking?
[11:01] {jfjf64} lol
[11:01] {nemo} white wine is o.k. before noon, yes
[11:01] {nemo} ?
[11:01] {nemo} grape juice :)
[11:02] {shorty} Red wine too? It's grape juice, right?
[11:02] {Les} lovely warm afternoon here. beer o'clock started an hour ago.
[11:02] {nemo} sure
[11:02] {nemo} that means port too
[11:03] {nemo} o.k. jf, you persuaded me
[11:03] {jfjf64} gin dan
[11:04] {jfjf64} sig in one hand beer in other wayv to go nem
[11:05] {nemo} never thought of that
[11:05] {nemo} gotta' get the m4 out
[11:06] {jfjf64} hey 3i on fridays will ya be doing recap of charts
[11:07] {shorty} M4? I don't have a lot of friends nemo, but you know you are one of them, right?
[11:07] {Threei} recap?
[11:07] {Threei} all of them?
[11:07] {jfjf64} best of
[11:07] {nemo} too funny shorty
[11:07] {jfjf64} lol
[11:07] {Threei} gosh... more work?
[11:07] {jfjf64} really nice though
[11:07] {jfjf64} like it
[11:08] {Threei} ty
[11:08] {nemo} yeah, looks great
[11:08] {Threei} but so far, this is far as I am willing to go in adding workload
[11:08] {jfjf64} babby steps
[11:08] {Les} my 1:6 FAZ trade didn't even make it on the trading log yesterday :(
[11:09] {dino} sm l fdx .23
[11:09] {Threei} huh?
[11:09] {Threei} one that happened when I was not here?
[11:09] {nemo} rimm maybe short?
[11:09] {Les} yeh, I was so proud of that
[11:10] {jfjf64} lk it nemo
[11:10] {Threei} so how do you suppose I should jknow about it?
[11:10] {nemo} looks good
[11:10] {jfjf64} .99
[11:10] {jfjf64} in
[11:10] {Les} you didn't even read the log when you got back :(
[11:10] {dino} you have that 3rd eye, you should have seen the les trade
[11:10] {Threei} Les... what log?
[11:11] {Threei} if my computer is not connected, where would the log come from?
[11:11] {nemo} he published a clipped log when he left
[11:11] {Les} how are we able to maintain a log now if your computer isn't connected?
[11:11] {Threei} log it on your computer
[11:11] {Threei} via mirc
[11:11] {Les} server is somewhere else is it?
[11:12] {Threei} this is not a server log, this is local computer
[11:12] {nemo} jf, rimm looks like Qs
[11:12] {Threei} server is not logging them
[11:12] {jfjf64} that goodd or bad
[11:12] {nemo} as goes Qs so goes Rimm
[11:13] {jfjf64} comon rimm
[11:14] {Threei} with market help, can drop to about .65
[11:15] {nemo} scalp and scrap day
[11:16] {Threei} well, you have 1:1
[11:16] {nemo} wow index strength(if you want to call it that) and rimm weakness
[11:16] {Les} looking for a gap close on ANF to .25 s.81 small
[11:16] {Threei} to me, looks capable of more
[11:16] {jfjf64} half out
[11:16] {nemo} yeah, given that relationship
[11:18] {Threei} 1:2
[11:19] {jfjf64} 1/4 .77
[11:19] {Threei} 1:3
[11:19] {nemo} the broken clock strikes again!!
[11:20] {jfjf64} done
[11:20] {Threei} and here is my .65
[11:20] {jfjf64} nice findNEMO
[11:20] {Threei} over and out
[11:21] {Threei} beautiful
[11:21] {Threei} that makes today's chart of the day
[11:21] {Threei} textbook
[11:21] {jfjf64} LOL
[11:21] {Les} what a load of horse manure!
[11:21] {nemo} Les...it was text book
[11:21] {Threei} excuse me?
[11:21] {Les} just baggin nemo
[11:21] {jfjf64} ??les
[11:22] {Threei} oh... feel free then
[11:22] {RonS} euro looking to break 1.20 but being defended
[11:22] {Les} he knows who those comments were directed to
[11:22] {Les} I took CRUS for a .20 ride down
[11:22] {Threei} but you never alerted that
[11:22] {Les} so missed your RIMM nemo. but good call
[11:22] {nemo} :)
[11:23] {jfjf64} nemo ya missed
[11:25] {jfjf64} well i will tk it as early bday present nemo ty
[11:30] {nemo} RIMM, the gift that keeps on giving :)
[11:31] {Threei} Euro vs US Dollar Euro approaching 1.20 figure for fresh 4-year lows
[11:31] {Threei} - Last tested below the 1.20 handle on Mar 27th 2006
[11:35] {RonS} busted it
[11:36] {Les} crus .75 b/d
[11:37] {Threei} EUR/USD *BREAKS BELOW 1.2000
[11:37] {Threei} reminder 1.18 is the next big level dealers are fucusing on as it was the level at the launch
[11:37] {Threei} fucusing, eh
[11:37] {nemo} rimm looks long
[11:38] {nemo} he speaks threeeish
[11:39] {nemo} think rimm could go to .90-.95
[11:42] {nemo} Qs hit the 200, that might be it for rimm unless they break through
[11:43] {Les} which I've updated to now
[11:43] {Les} looking at how piss weak this market is
[11:43] {Les} wouldn't be suprised to see sell off and falling out of this wedge/off a cliff
[11:44] {Les} but I'm open to anything
[11:44] {magoo} what u got DINO?
[11:45] {Les} or Dino's trades could work superbly today :)
[11:45] {dino} waiting
[11:45] {magoo} flat?
[11:45] {dino} otm on a few small ones
[11:45] {dino} ups, fdx
[11:46] {dino} watching clh break of .50, was good to me earlier
[11:47] {nemo} getting a longer base in lvs
[11:48] {dino} mat try cat again
[11:49] {dino} may
[11:49] {Les} gold miners going for it
[11:50] {nemo} frickin LVS breaking trend
[11:50] {shorty} dino, went long on FDX .75, thought you might care.
[11:50] {dino} uso confuses me
[11:50] {nemo} ?
[11:51] {dino} ok shorty
[11:51] {dino} uso, stopping drilling and drops
[11:51] {Les} uso not just a casino stock?
[11:52] {dino} us oil fund
[11:52] {dino} altho, all stocks are like casino betting
[11:53] {dino} rino holds well
[11:53] {Les} yeh, but being abused like its a gambling stock dino. I see no fundamentals for it
[11:53] {dino} ok
[11:53] {dino} ed's up, apol, esi
[11:53] {Les} my impression anyway
[11:54] {dino} everything imo les
[11:54] {RonS} uso, ung get played when they are forced to roll their futures contracts. as a result they are worthless imo
[11:57] {Les} crap miners really going for it
[11:57] {RonS} gld running
[11:58] {nemo} hungary
[11:58] {RonS} eat lunch
[11:58] {nemo} having a liquid one :)
[11:59] {nemo} x look interesting vad
[11:59] {Threei} hmmm
[12:00] {Threei} I'd say short vs long is 51/49... :)
[12:00] {nemo} order at .77
[12:00] {Les} $ rocketing too
[12:00] {Les} something happened just now?
[12:00] {Les} any news?
[12:00] {nemo} .76 the low
[12:01] {Threei} well
[12:01] {Threei} HU) Hungary Opposition Party chief: Country not near default
[12:01] {Threei} - Reminder: Earlier the new Fidesz Govt claimed that the prior Govt manipulated economic figures that default was not an exaggeration
[12:01] {Threei} - Note: Earlier the Former Fin MIn claimed that Hungary was in no way near default
[12:01] {nemo} Les, Euro got pummeled that's why $ going
[12:01] {Threei} see, twice a day they said Hungary is not near default
[12:01] {Les} so what happened? just technical trading?
[12:01] {Les} oh ok
[12:01] {Threei} first time traders got suspicious
[12:01] {nemo} Methinks they protesteth too much
[12:01] {Threei} second, they got reassured that indeed is the case, lol
[12:01] {nemo} bye X
[12:01] {Threei} it's pure case of "bank needs no more capital"
[12:02] {nemo} I'm frickin clairvoyant today
[12:02] {dino} the siren song
[12:02] {nemo} I should drink more often
[12:03] {Les} s APOL .09. riding market down
[12:03] {dino} 10k coming fast
[12:03] {Les} haha there goes that the rising wedge
[12:04] {shorty} stopped FDX
[12:05] {Threei} this is from this morning:
[12:05] {Threei} 09:00] {Threei} EU) France Fin Min Lagarde: G20 has been reassured by the European rescue package
[12:05] {Threei} [09:00] {Threei} - Reiterates euro is a credible currency
[12:05] {Threei} [09:00] {Threei} - Says ECB has acted responsibly
[12:05] {Threei} [09:00] {Threei} - Reiterates euro is a credible currency {--- yep
[12:05] {Threei} [09:00] {Threei} so credible that there is a need to reiterate this point every single day
[12:05] {Threei} [09:00] {Threei} multiple times
[12:05] {Threei} [09:01] {Threei} and banks needed no more capital
[12:07] {Les} cover APOL +.20
[12:08] {jfjf64} back miss anythin
[12:08] {Threei} we are about to go in panic mode it feels
[12:08] {jfjf64} wow lk at rimm
[12:09] {nemo} Black Friday before Black Monday it's the Apocyclipse
[12:11] {dino} fdx sm l .50
[12:12] {dino} gj les
[12:13] {Threei} this bounce is a good opportunity to start looking for short entries, IMO
[12:13] {nemo} rimm still weak even with Qs rising
[12:15] {Threei} GRMN Receives Court Approval for Change of Place of Incorporation to Switzerland (31.97, -0.81, -2.47%)
[12:16] {Threei} from the Cayman Islands
[12:16] {Threei} Les takes business away from poor islanders
[12:17] {dino} so close to dji gap
[12:17] {dino} clh sm l .51 wide
[12:18] {Threei} meanwhile, all the problems being solved,
[12:18] {Threei} FDA notes that new warnings on smokeless tobacco ads begin June 22
[12:20] {Threei} looking at FAZ, does it feel like 16 break will be launching pad?
[12:20] {Threei} daily chart
[12:21] {shorty} out UPS +.30
[12:21] {dino} gj
[12:21] {jfjf64} that a boy shorty
[12:21] {shorty} ty
[12:22] {Threei} quite a progress in short two months, eh
[12:22] {shorty} Still make some stupid moves though Threei. But, I am having more fun.
[12:22] {Threei} well, I have bad news and good news
[12:23] {shorty} They will continue.
[12:23] {Threei} bad is, making stupid moves will continues for a while
[12:23] {Threei} getting rid of them is not an event, it's a process
[12:24] {jfjf64} agree
[12:24] {Threei} good news is, they will be less frequent and their outcome will be less destructive,
[12:24] {jfjf64} 1 year process
[12:24] {jfjf64} 4 me
[12:24] {Threei} until at some point they'll become just an insignificant part of the routine
[12:24] {Threei} time varies from 6 months to 2 years, in my observations
[12:25] {Threei} with 6 months being rare,
[12:25] {shorty} I lost a lot of money when I started this venture a few months back. I am afraid to say it but, it's about 3k up until today.
[12:25] {Threei} anothere from year to two being closer to norm
[12:25] {Threei} anothere?
[12:25] {Threei} anywhere
[12:25] {Les} I'm doing better this week shorty
[12:25] {shorty} I can tell Les.
[12:26] {Les} Trev close to having my account ready
[12:26] {Les} started to focus my trading
[12:26] {Les} hardest part is ditching dubious setups
[12:26] {Les} but as this market continues to fu&% like it does now
[12:26] {Les} gets easier to see when to trade and when to have a beer
[12:27] {nemo} why are they mutually exclusive?
[12:27] {Les} because I become a horrible monster on the piss
[12:27] {nemo} ?
[12:28] {shorty} I feel less, that is for sure. That is not because of the whiskey.
[12:28] {shorty} kid crying, brb
[12:28] {dino} lol
[12:31] {jfjf64} my biggest prob year in is when i start thinkin i know what way market going when i read tape higher percent winners very simple
[12:34] {shorty} Anyone drive a suburban or an expedition? Looking for a new vehicle due to the new addition coming up in 8 months or so. Thinking van, but I might need the towing power, and no not for my fat a##.
[12:37] {Les} I recommend:
[12:37] {Les} http://en.wikipedia.org/wiki/Citro%C3%ABn_C3
[12:38] {nemo} don't sell them over here
[12:38] {Les} you useless capitalist gas guzzling truck driving anti communist pigs
[12:38] {nemo} ty
[12:40] {dino} i like them both shorty
[12:42] {jfjf64} faz 16 watch is on
[12:43] {shorty} you drive them both dino?
[12:46] {ese} whoaaaa!!!! I'm outta here see ya Monday......phones been ringing off the hook. Vad when you look at the paper there was a student stabbeda and killed downtown last night.....He was a student at my high school...catch you all monday
[12:46] {ese} stabbed
[12:46] {Threei} ouch
[12:46] {Threei} take care ese, see you monday
[12:47] {ese} cya
[12:47] {shorty} bye ese
[12:49] {dino} no shorty, but friends had them
[12:49] {jfjf64} im out here also guys nice week ty 3i
[12:49] {dino} i have durango
[12:50] {dino} cya es, jf
[12:50] {Threei} take care jf
[12:51] {shorty} bye jfjf64
[12:54] {dptl} i suck big time....gonna take week off....see ya all in a week....have to clear my mind once again.........have a good weekend all
[12:54] {dino} cbst
[12:55] {Threei} take care dp
[12:55] {Threei} no panic
[12:55] {dino} been tough dp
[12:55] {Threei} for now at least
[12:55] {Threei} market stabilized
[12:55] {Threei} but feels very fragile
[12:56] {RonS} cbst news 3i?
[12:56] {dino} news cbst?
[12:56] {dino} nothing at yahoo
[12:57] {dino} or cyber
[12:58] {shorty} cya dptl
[12:58] {Threei} BP S&P lowers rating one notch to AA- from AA
[12:58] {Threei} - Follows Fitch and Moody's yesterday
[12:59] {Threei} CBST, no single line since May 28
[12:59] {Threei} here it is
[12:59] {Threei} CBST Hearing strength being attributed to possible settlement with Teva on Cubicin (22.68, +1.17, 5.44%) (related TEVA )
[12:59] {dino} 23.35 waiting short
[13:00] {Threei} Note: Cubist filed the lawsuit in response to an Abbreviated New Drug Application (ANDA) filed by TPM seeking U.S. FDA approval to market a generic version of CUBICIN (daptomycin for injection) prior to the expiration of Cubists patent rights.
[13:05] {dino} in
[13:06] {dino} cov .81, +.56
[13:07] {shorty} again, deer in headlights. I watched it hit your target thinking I would join you, but nope. Nice on dino
[13:07] {dino} ty, almost got stopped
[13:07] {Threei} CBST Spokesperson reportedly declines comment on court case cancellation (22.96, +1.45, 6.74%) (related TEVA )
[13:07] {shorty} 5 min chart or 15?
[13:09] {dino} 1 min/1 day
[13:11] {dino} brb
[13:17] {nemo} crissakes, we coulda' gone short anything and left for the day
[13:17] {dino} out clh flat
[13:17] {shorty} lol nemo
[13:18] {dino} gaps dji 9974, s/p 1070 and 1067
[13:18] {dino} ndx should not come into play today imo
[13:18] {Threei} again coming panic feel returns
[13:18] {larisa} feelings again ? :)
[13:22] {Threei} yeah
[13:22] {Threei} something's worng wirth me
[13:22] {Threei} really :)
[13:23] {Threei} RIMM short...
[13:24] {Threei} quite tempting
[13:27] {Threei} hit 1:1 if you got tempetd
[13:33] {dino} clh held
[13:36] {Threei} Fox's Gasparino: Pay Czar Feinberg may be looking to pursue clawbacks on some financial firms for 2008 compensation
[13:37] {Threei} is he pay czar or no pay czar?
[13:39] {Threei} reminds me a soviet policeman from a joke - guy refused to break up street fight motivating his decison by ity being a disorder... while his job description was to maintain order
[13:46] {shorty} lol..Threei
[13:46] {shorty} no crickets here
[13:50] {Threei} total stall
[13:54] {dino} bth taking a bath
[13:54] {Threei} panic comes closer
[13:54] {Threei} {larisa} enough with feelings already
[13:55] {dino} you talking to yourself
[13:55] {Threei} what can I do if no one elese wants to talk to me
[13:55] {dino} just sign
[13:56] {dino} out
[13:56] {dino} lol
[13:56] {dino} here come the gaps
[13:56] {Threei} but then how do I pretened that I do have some lively conversations
[13:57] {dino} lively? thats pushing it :O
[13:57] {Threei} we are talking about my imagination, remember?
[13:57] {dino} indeed
[13:58] {Les} we putting you on the couch for a consultation Vad?
[13:59] {Threei} that's not the turn of the conversation I envisioned
[13:59] {dino} sheesh give the s/p 5 pts down and get the gap outta the way
[14:02] {Les} fdx 80 b/d looking good. stop a bit wide
[14:03] {dino} bth sm l .85 gappy
[14:03] {dino} clh .35 sm l
[14:04] {dino} gut says up
[14:05] {dino} contra-hour, lets see if it works
[14:05] {Threei} British Petroleum plc Updates cap program; oil and gas collection is from well is being gradually increased
[14:05] {Threei} - Exec: Cannot yet confirm earlier Coast guard estimate that the company is capturing 1K bpd from the well using the containment cap. To give an update each morning on oil capture rate.
[14:09] {dino} here comes the gap fill
[14:11] {Threei} FAZ broke 16
[14:15] {shorty} dino, thought on UPS?
[14:17] {Les} gut says up dino, but too frigin easy to see it IMO
[14:17] {dino} whoosh to .50s then up
[14:18] {Les} jeez, market beginning to play nice again? find that hard to believe...
[14:19] {Les} anf might a reversal candidate if the end is up
[14:20] {Threei} I hope it will
[14:20] {Threei} we are in that pattern that I hate,
[14:20] {Threei} early activity and then a stall for the rest of the day
[14:20] {Threei} hopefully it's not for long
[14:20] {Les} sneaky fdx busted stop by .02 then reversed down
[14:20] {Threei} I prefer more evenly spread out
[14:21] {Les} I must admit the reduced stress would be nice
[14:21] {Les} I don't the market very well, so am I learning at a particularly difficult time?
[14:22] {Threei} don't jump on anything that moves or pretends to move, your stress level will go way down
[14:22] {Threei} wait for real trade
[14:22] {nemo} ohhhh....jump on trades.....nevermind
[14:22] {dino} better not knowing anything les, everything i was taught about it went out the window in '08
[14:22] {Les} yeh learning that slowly
[14:22] {Les} cats and dogs nemo
[14:22] {dino} living in sin nonetheless
[14:23] {Les} really? so that was bad times?
[14:23] {dino} basically, fundamentals don't mean sh*t
[14:24] {Threei} this is not what dino means
[14:24] {Threei} trading wise it was fine
[14:24] {Threei} his pioint is:
[14:24] {dino} yes
[14:24] {Threei} everything you think you know about how economy functions and how market responds to it - forget it
[14:24] {dino} everything has changed
[14:24] {Threei} this all got screewed up badly
[14:25] {Threei} by idiots who think they can rule the economy and market
[14:25] {Threei} decree them to behave
[14:25] {Threei} will the outcome
[14:25] {Les} ok, but what I would like to know
[14:25] {Les} is am I learning the hard way?
[14:25] {Les} or is the par for the course?
[14:25] {Threei} I don't know how to answer that
[14:25] {dino} imo more violent
[14:26] {Threei} there is no particularly good or bad time to learn
[14:26] {Threei} it changes,
[14:26] {shorty} bring it on!
[14:26] {Threei} but not in terms of gopod and bad
[14:26] {Threei} more volatile or less,
[14:26] {Les} well I would have been happy to learn in 1998 vad!
[14:26] {Threei} more rapid change or less
[14:26] {Threei} bull or bear
[14:27] {Threei} etc
[14:27] {Les} ok
[14:27] {Threei} whenever you start, you will go through all of them sooner or later anyway
[14:27] {Threei} and will have to learn to recognize and adjust
[14:27] {Threei} then at some point you realize
[14:27] {dino} it always changes les, but look 08 to early 09, just pretty much down, then pretty much up. now last two months like ytrading a week in a day up/down/up/down.......
[14:28] {Threei} that even though there is something new al the time,
[14:28] {Threei} on some basic level you have already seen it all
[14:28] {Les} dino dcc
[14:29] {Les} so after 14 years can you say that you've seen this show before vad?
[14:29] {Threei} exactly
[14:29] {Threei} look at it this way
[14:29] {Threei} you may have never seen drop of 995 points in 20 min
[14:29] {Threei} but you have seen other panic selloffs
[14:29] {Threei} and this one is not any different
[14:29] {Threei} other than scale
[14:30] {Threei} and speed
[14:30] {dino} bingo, thats the difference, we do it in a day now
[14:30] {Threei} but mechanics, reasons, people's behavior - they are the same
[14:30] {dino} 1070 filled, 1067 target for bounce
[14:30] {Threei} you saw many people saying:
[14:31] {Threei} this year-long rally is manifactured, it's unnatural,
[14:31] {Threei} and trying to short it
[14:31] {Threei} you saw me saying - there is nothing unusual about it,
[14:31] {Threei} it's a trend, stay with it
[14:31] {Threei} why?
[14:31] {Threei} they never paid attention before
[14:31] {Threei} they thought they knew what market should do
[14:31] {Threei} why did I say what I did?
[14:32] {Threei} because for me, there was nothing new in the phenomenon of market going against the pbvious
[14:32] {Threei} I would be shocked if it did something different
[14:33] {Les} ok
[14:33] {Les} WFC at support
[14:33] {Threei} let me remind you one article..
[14:33] {Threei} http://blog.realitytrader.com/2009/08/trading-climate-new-or-same-old.html
[14:33] {Les} ok, while I read that have a look at wfc please
[14:36] {Threei} just moves with market
[14:36] {Threei} will do whatever market does
[14:36] {Les} yeh, looking at possible market reversal play
[14:37] {Threei} after you read it, try to look at the events of last two years from this point of view
[14:37] {Threei} and think, were they really materially different?
[14:37] {Threei} or quite predictable,
[14:37] {Threei} when you view them from trader's standpoint?
[14:37] {RonS} eur/jpy cross about to take out its lows
[14:38] {Les} well I see the Tao philosophy here
[14:38] {Les} ignoring the BS of "new paradigm"
[14:38] {Les} etc
[14:39] {Les} throwing one's beliefs out the window for a fresh start
[14:39] {shorty} "and couple I invented all on my own" I lol at that.
[14:40] {dino} 9974 filled
[14:42] {Threei} anyone went for FAZ break, let's start partialling out
[14:43] {Les} fdx struggling for direction t hese last minutes. mindful of reversal here.
[14:44] {dino} ups hit low .60s
[14:44] {Threei} so Les
[14:44] {dino} you guys just go short when i go to bus stop at 3:00
[14:44] {Threei} see now how it was not anything "new"?
[14:44] {shorty} Just thinking about that dino, you were right.
[14:45] {Les} yeh you're showing me the way from a trader's perspective
[14:45] {Les} as a uni student of politics
[14:45] {Les} and now english culture through literature
[14:45] {Les} I have been learning that "there is nothing new under the sun"
[14:46] {Les} it is useful to learn the same in economics and finance as well
[14:46] {dino} lol les, i have a bachelors' degree in business/finance, and i see that the books were pure b.s.
[14:46] {Threei} not when you understand the underlying principle
[14:46] {Threei} you just need to recognize the manifestation
[14:46] {Les} that's just it dino
[14:46] {Les} I found the basic introductions to international politics BS
[14:47] {Les} when I learnt from here and other blogs how politicians and finance functions
[14:47] {dino} yes and the intellectuals are running the govts off of books that are quite frankly, wrong
[14:48] {shorty} I would like to talk politics with you guys, but my ignorance saves me.
[14:48] {larisa} come to my corner, shorty :)
[14:48] {Les} I have put uni bachelor on suspension
[14:48] {dino} makes me think of anaconda(?) copper/fancisco
[14:48] {shorty} :) larisa
[14:49] {Les} because I have learnt all that it useful from what I am learning
[14:49] {dino} s/p gap filled 1067, finally
[14:49] {Les} but no reversal yet
[14:50] {Threei} second exit FAZ here
[14:50] {dino} into the close, shorts will start to cover imo, g20 meeting this weekend
[14:50] {RonS} eur/jpy at 109.58...just yesterday it was above 114.
[14:51] {shorty} your call dino, I will follow.
[14:51] {Threei} WFC broke down with market
[14:52] {dino} trade what you see, no bets yet
[14:59] {Threei} out FAZ in full
[14:59] {dino} ppt will close it at 10k
[14:59] {dino} back in 10
[15:01] {Les} sm long FAS .56
[15:05] {Threei} hmmm
[15:05] {Threei} you mean dino left yet you went long?
[15:05] {Les} look at his closing remarks
[15:06] {Les} "they" will close dji at 10k
[15:06] {Les} I'm all in!
[15:10] {dino} back
[15:11] {Les} http://www.youtube.com/watch?v=H9fyOFefirQ
[15:11] {dino} rino l .65
[15:12] {dino} stop is .49
[15:15] {Les} l clh .21 stop 63
[15:19] {dino} whr
[15:20] {dino} around 96.10 maybe w/stop .74ish
[15:21] {dino} pulper usually
[15:21] {dino} wait
[15:22] {dino} .82ish was prior support
[15:26] {Threei} Only 23% Favor Government Mortgage Help
[15:27] {Les} fas is stopped. I'm a greedy pig and .30 wasn't enough...
[15:29] {dino} whr sm l .55
[15:32] {nemo} ppt better hurry up
[15:32] {dino} 3:40
[15:32] {nemo} funny dino, you left market went up...you came back, went down
[15:32] {Threei} they can't... they are all in Europe
[15:32] {nemo} yeah, that's what I figure
[15:32] {dino} south korea i think
[15:32] {nemo} I'm watching tna and fas
[15:32] {nemo} oh yeah, Bilderberg this weekend
[15:33] {dino} pwrd stopped -.16
[15:33] {nemo} if ppt doesn't intervene, monday will be horrible
[15:33] {dino} that was rino, my mistake
[15:34] {nemo} here it is
[15:34] {shorty} dino, you got hit at .49?
[15:34] {shorty} RINO
[15:34] {dino} the risk to shorts is a coordinated rate cut w/govt backing debt
[15:35] {dino} the only way out imo, is to re-inflate it
[15:35] {nemo} yeah, look how well that worked for the Greece situation
[15:35] {nemo} I'm bettin' it doesn't stick this time
[15:35] {dino} for politicians that is
[15:35] {Threei} they casn't do it as freely as US can, dino
[15:35] {dino} problem is the reinflation trade keeps getting shorter and debts bigger
[15:36] {Threei} their problem is monetary union wiht no fiscal/policy union
[15:36] {dino} i know vad, but what else can the pretend to do. its that or default, default woul;d clear it faster, but they do not have the guts to do that
[15:36] {Threei} they have single currency, yet differing fiscal and policy states
[15:37] {Threei} right
[15:37] {dino} understand it i follow it closely
[15:37] {Threei} so it will be done against their weill, and their resistance will prolong the agony and make the crash even more painful
[15:37] {dino} again, they will be thrown oput, they will try the inflatoion way first, otherwise taxes and everything else dry up, via deflation
[15:38] {Threei} yup
[15:38] {Threei} in my mind, the end is inevitable, but ther biggest problem really is:
[15:38] {dino} agree, they are grabbing at straws
[15:38] {Threei} their atempts to resist the unavoidable may lead to rweally bad things
[15:38] {Threei} blood
[15:39] {Threei} social unrest exceeding "normal" so to speak
[15:39] {nemo} oh, there will be riots there and likely here also
[15:39] {Threei} and in worst case scenario, local wars
[15:39] {dino} history rymes
[15:39] {dino} yes
[15:39] {nemo} o.k. dino it's time...
[15:40] {Threei} by trying to keep it together, they pitch nations, countires and classes against each other
[15:40] {dino} giddy-up
[15:40] {nemo} I'm hearing REM...."It's the end of the world as we know it....
[15:40] {nemo} "
[15:40] {Threei} not really... how old in Euro as currency?
[15:41] {nemo} I think I was using marks in 2000, but can't be sure
[15:41] {dino} agree vad. should have let greece default a month ago, re-structure, and move on. they are wasting time and money
[15:41] {nemo} when I was in germany
[15:41] {dino} dumb ass keynesians
[15:41] {Threei} there you go
[15:41] {Threei} it's simply goping to be return to the world without euro and EMU
[15:41] {nemo} no short covering yet
[15:41] {Threei} I see new lows in cards
[15:41] {Threei} no covering
[15:41] {dino} suppy side is the only way out. "get out of our way
[15:42] {dino} missing ron reagan
[15:42] {nemo} holy doo doo
[15:42] {nemo} batman
[15:42] {nemo} quick batton down the hatches, throw the women and children out!
[15:42] {RonS} margin selling coming in
[15:43] {dino} cut whr flat, had .50
[15:43] {nemo} lucky boy
[15:43] {Threei} 08:24] {Threei} any attempt to rally will be used to sell as much as possible,
[15:43] {Threei} [08:26] {Threei} we are rather in "be ready to panic" environment
[15:44] {larisa} hhmm :)
[15:44] {dino} stopped clh -.35
[15:44] {Threei} see?? FEEEEELINGS.... :)
[15:44] {dino} freaking whr
[15:45] {Threei} wow
[15:45] {RonS} rinse cycle on the washer?
[15:45] {Threei} look how transit gloria mundi
[15:45] {Threei} AONE
[15:46] {Threei} lol Ron
[15:46] {nemo} watching fas and tna, they still haven't broken trend lines
[15:48] {nemo} Jesus, Mary and Joseph....wow
[15:50] {dino} i feel stupid on whr
[15:50] {dino} paniced out
[15:50] {Threei} dino, got a beutiful quote for you
[15:50] {shorty} are you still in RINO dino?
[15:50] {Threei} Ed Seykota
[15:50] {dino} no see above
[15:50] {Threei} If you want to avoid whipsaw losses - stop trading
[15:51] {shorty} I asked if it hit .49, if it did my stop never triggered.
[15:52] {dino} hit .47
[15:52] {shorty} hmmmm
[15:53] {dino} hmm, not showing tho, saw .47.48.49 print
[15:53] {dino} sm l whr .30
[15:53] {Threei} new high FAZ
[15:54] {shorty} Have a great weekend all, see you guys on Monday.
[15:54] {Threei} take care shorty
[15:54] {dino} cya shorty
[15:55] {nemo} have a nice weekend short stuff
[15:55] {Threei} whole 6 minutes of trading yet, and he leaves...
06[15:55] * nemo slaps Threei around a bit with a large trout
[15:55] {Threei} ok, 5
[15:55] {nemo} no covering to speak of, oy vay
[15:55] {Threei} 15:41] {Threei} I see new lows in cards
[15:55] {Threei} [15:41] {Threei} no covering
[15:56] {nemo} yes..saw that...no covering at all though
[15:56] {shorty} This is the time Telus decides to upgrade a router, and voila! I am stuck in a position all weekend.
[15:56] {nemo} call your broker
[15:56] {nemo} have him get you out
[15:56] {Threei} have your broker on speed dial for this kind of things
[15:57] {Threei} hi, this is account numer xxx, GET ME OUT NOW!!!!
[15:57] {Threei} practice this scream
[15:57] {Threei} when you manage to stop planes in the air with your voice, you reached true mastery
[15:58] {shorty} I do have them on speed dial, but I worry.
[15:58] {Les} we can do this to trev vad?
[15:58] {nemo} yes Les
[15:58] {Threei} of course
[15:59] {nemo} o.k. I'm off hasta monday...P&Q
[15:59] {Les} ciao man
[15:59] {Threei} thank you all
[15:59] {larisa} bye all :)
[15:59] {RonS} cya nemo
[15:59] {Threei} have a great relaxing weekend
[15:59] {Les} yeh a good week thanks
[15:59] {dino} out whr .60, +.30
[16:00] {Threei} see you all on Mionday
[16:00] {dino} out bth -.40
[16:00] {Les} a lundi