Oct 24 2011

(Participation in the room in real time requires membership)

5 calls, 4 wins and 1 stop sized at whole 7 cents. No complaints here. Let's also update the status of SVM swing trade: Now that we have made a new high, it's time to trail the stop for the balance of shares again, this time to $7.50, a bit under the last low of $7.67 made on 10/18. With $7.25 entry, it officially takes us in no lose territory. At $9.75 we have 1:2 risk/reward, and second partial is taken off the table. That cuts out initial shares to half, with new stop in the positive territory as indicated above.

Take a quick look also at our brief refreshment of the Europe situation and market reactions, 9:16 - 9:22

Session Time: Mon Oct 24 00:00:00 2011
[09:03] {ese} morning
[09:05] {RonS} good day everyone
[09:06] {ese} gm
[09:06] {Threei}  ese, ron :)
[09:07] {Threei}  nice news for SVM
[09:07] {swill} :)good morning
[09:07] {Threei}  swill :)
[09:10] {Threei}  An Obama administration official says President Barack Obama will announce new rules Monday to help homeowners with little or no equity in their homes refinance their mortgages to avoid foreclosures.
[09:10] {Threei}  The new program will apply to homeowners with federally guaranteed mortgages who are current on their payments. It cuts the cost of refinancing and removes caps for deeply underwater borrowers.
[09:10] {dino} gm all
[09:10] {Threei}  dino :)
[09:14] {dino} from above, you can tell election is getting close
[09:14] {Threei}  my frst thought
[09:16] {Threei}  quite amazing to watch how the game is played, re: european news and market reactions
[09:16] {Threei}  every negative headline causes new surge of buying, if it's not an immediate collapse news,
[09:16] {Threei}  total musical chairs game,
[09:17] {Threei}  bulls are charging, but are willing to get out on a moment notice,
[09:17] {Threei}  that's why volumes are relatively thin, it's nothing more that "the game of the moment"
[09:18] {Threei}  killing naive shorts who think that the market must tank right away since perspective is so grim
[09:18] {Threei}  Very typical case of information-price divergence
[09:18] {dino} the game the game, nothing quite the same, all that really matters is the game
[09:19] {Threei}  eqzaktly
[09:19] {Threei}  The path from here then is:
[09:20] {Threei}  if Europe doesn't find the way to kick the can down the road, buyers of last days get out in rush,
[09:20] {Threei}  slower ones get slaughtered
[09:20] {Threei}  new shorts will have practically no time to enter
[09:21] {Threei}  and move down will proceed with as few people on board as possible, in a very typical market fashion.
[09:21] {Threei}  If Europe does find that way, new crop of buyers will rush in,
[09:21] {Threei}  market will spike quickly, then drop sharply as pervious buyers exit into euphoria,
[09:22] {Threei}  and after shaking out weak hands, marhc up will resume, till next cluster of problems comes to attention.
[09:29] {Threei}  prepare half lot on FCX
[09:29] {Threei}  for a long on sharp drop
[09:30] {Threei}  quite possibly around 38 - 38.10
[09:30] {Threei}  if spikes instead, will look for a short
[09:31] {Threei} Short Setup: FCX  .70 break
[09:31] {Threei}  stop above .80
[09:32] {Threei}  half out .53
[09:32] {Threei}  stop to .75
[09:33] {Threei}  to .71
[09:34] {Threei}  to .65
[09:34] {Threei}  out .28
[09:35] {Threei} Short Setup: SLW  .20 break
[09:36] {Threei}  invalidated
[09:37] {Threei} Long Setup:  SLW  .35 break
[09:37] {Threei}  opps, late
[09:37] {Threei}  see if pulls back in .30 - .35 zone
[09:38] {Threei}  ok, same setup
[09:38] {Threei}  stop under .25
[09:38] {Threei}  1:1, half out
[09:38] {Threei}  very nice of SLW to give second chance
[09:38] {Threei}  stop to .33
[09:41] {Threei} Short Setup: RIMM  .15
[09:41] {Threei}  if staysd under .25
[09:41] {Threei}  half lot let's do
[09:42] {Threei}  invalidated
[09:43] {patience} good morning
[09:43] {Threei}  SLW, scalpers win
[09:43] {Threei}  morning patience
[09:43] {Threei}  are you back on firm ground?
[09:45] {patience} back to the fall leaves in victoria  :)
[09:45] {Threei}  got some: http://photography.realitytrader.com/2011/10/fall-is-back-again.html
[09:47] {patience} beautiful vad, exactly what it looks like flying over victoria
[09:53] {Threei}  ugh
[09:53] {Threei}  couldn't find guts to short SLW .50 break
[09:53] {Threei}  whimp
[10:02] {Threei}  SVM swing trade update
[10:02] {Threei}  http://goo.gl/DdhnY
[10:05] {Threei} Long Setup:  NVDA  15 break
[10:06] {Threei}  either normal low with stop under .90
[10:06] {Threei}  or double under .94
[10:06] {Threei}  low = lot
[10:07] {Threei}  1:1 for big shares plaers
[10:07] {Threei}  half out or scalp, your choice
[10:08] {Threei}  scalp type I who doesn't remember
[10:08] {Threei}  ese's favorite
[10:21] {Threei}  1:1 for normal lot players, 1:2 for big shares
[10:21] {Threei}  OK, you can breathe now
[10:22] {ese} ese's charts are all buggared up this morning
[10:22] {Threei}  need qiotes?
[10:22] {ese} no quotes.......or candlesticks...coming out a dashes
[10:23] {Threei}  yikes
[10:23] {ese} no
[10:25] {dino} out nvda +.10 ty 3i
[10:25] {Threei}  welcome :)
[10:26] {dino} banks want 40% greek haircut on debt, eu wants 60%
[10:26] {Threei}  so, they'll agree on 50
[10:26] {Threei}  the real question is, will it solve anything?
[10:27] {Threei}  'cause next thing we see is Portugal, Ireland, Spain, Italy say, how about OUR debt? No haircut for our creditors??
[10:33] {Threei}  starting hunt for RIMM reversal
[10:34] {Threei} Short Setup: RIMM  .80 break half lot
[10:34] {Threei}  change to .85
[10:34] {Threei}  more aggressive
[10:35] {Threei}  stop abpve .90
[10:37] {Threei}  cover half here, .74
[10:38] {Threei}  stop to .86
[10:40] {Threei}  stop to .81
[10:43] {dino} sxci sm l .00
[10:43] {dino} out .50, +.50
[10:43] {Threei}  closed RIMM in full
[10:43] {Threei}  wtg dino
[10:43] {dino} lucky
[10:43] {Threei}  sure, me too
[10:44] {Threei}  4 out of 4
[10:55] {dino} .
[10:56] {Threei}  (EU) UK PM Cameron: A referendum in the UK towards EU membership would not be appropriate- Reminder: Earlier some members of the parliament have called for a referendum on membership
[11:10] {Threei}  (US) Fed's Fisher: Have successfully warded off deflation
[11:10] {Threei}  I'll say
[11:10] {Threei}  for 98 years already
[11:11] {Threei}  (SP) Spain Climate minister notes that the country will not pay more for solar panels in the EU as Italy has done
[11:17] {Threei} Long Setup:  RIMM  .90 break if stays above .80
[11:17] {RonS} unusual move ibm
[11:19] {Threei}  no news that I see on it
[11:19] {Threei}  techs are strong
[11:30] {Threei}  - EUR/USD tested session lows of 1.3823 on concerns that Germany and France would not be able to reach a deal on the EFSF at Wednesday's EU leader summit. There were vague rumors that the summit could be again postponed, but the EU Commission stated that it remained on course. EU Commissioner Juncker stated what many analysts had already predicted, namely that banks needed to prepare for 50-60% losses on Greek debt.
[11:31] {Threei}  look at tghe next line:
[11:31] {Threei}  The euro was off its worst level of the morning after the ECB increased the amount it settled in its government bond buying program to 4.5B from last week's 2.2B.
[11:31] {Threei}  unfrikingbelieavable
[11:34] {Threei}  RIMM of course invalidated
[11:56] {dino} vad, regarding this, once the hit is taken is it the same re-inflation trade? your thoughts.
[11:57] {Threei}  I really can't tell
[11:58] {Threei}  it looks this way on a surface, but I suspect it's a bit more complicated
[11:58] {Threei}  the thing that gives me a pause is:
[11:58] {Threei}  this hit is merely a hiccup on the way to much bigger hits
[11:59] {Threei}  relief for a day or week, just until the rst of underwater countries demand the same treatment
[12:00] {Threei}  so, it's not they can say: OK, this is over, now let's deal with more calm waters in a usual manner
[12:00] {Threei}  it's rather one hoop to jump through after another,
[12:00] {Threei}  and each one triggers a few new ones
[12:01] {Threei}  not even speaking of absence of "normal" inflation mechanism in euroland
[12:01] {Threei}  they very structure of their currency is so much more complicated,
[12:02] {Threei}  while printing in USA is a single entity decision (and even that becomes more difficult lately because of resistance of the masses),
[12:02] {cipher} sxci spike
[12:02] {Threei}  in Europe, it's backing of sovereign guarantors that is necessary for EU-wide printing
[12:02] {Threei}  and that became huge problem
[12:03] {dino} hmmmmmm, good points
[12:03] {Threei}  so no, if I had to answer this question with inromation I have today, I don't see normal "inflate our way out of this mess" as easy path forward
[12:05] {Threei}  not that they don't dream of it or won't try... :)
[12:06] {Threei}  I just don't see how they can do it given whole climate
[12:07] {dino} too many cooks, so to speak
[12:08] {Threei}  totally, yes
[12:08] {Threei}  and they each see different diashes as a result, with different ingredients
[12:09] {Threei}  and cook for different clients
[12:09] {Threei}  btw, remember, a week or so ago I opined that, however strange it looks, but US is likely come on top as a result of this whole mess
[12:10] {Threei}  look at this:
[12:10] {Threei}  http://goo.gl/MBOi5
[12:12] {ese} cya hopefully tomorrow........still having tech issues here
[12:12] {Threei}  take care ese
[12:12] {Threei}  tell your borker ee don't like like him
[12:12] {Threei}  ee = we
[12:33] {dino} hopefuuly they are right in that article 3i. that shale gas is all around me
[12:33] {Threei}  I feel it's only the beginning
[12:34] {Threei}  there is a lot going for US, even though it's not obvious yet
[12:34] {dino} throw out obama and more positive would come
[12:35] {Threei}  he is just a symptom...
[12:35] {Threei}  whole "let's help all who wasn't fortunate enough to make decent money" must go
[12:36] {dino} yes
[12:36] {Threei}  help must be limited to those who can't make it for objective reasons
[12:36] {Threei}  health, age
[12:37] {Threei}  the rest is just plain wrong as it kills motivation
[12:42] {dino} 11895 gap filled
[12:42] {Threei}  rodl
[12:42] {Threei}  rofl
[12:42] {Threei}  "The only thing we have to fear, is Italy itself."
[12:43] {dino} 1234 as well
[12:44] {Threei}  (EU) German Chancellor Merkel is said to have told members of parliament that EFSF will be leveraged up to over 1T, haircuts on Greek debt to be 50-60% - financial press
[12:44] {Threei}  - Recapitalization program said to be around 100B; with Germany banks estimated to need 5.5B
[12:44] {swill} I like that one Vad. lol
[12:44] {Threei}  yeah, that was funny :)
[12:45] {Threei}  OK, I am dying of laughter here
[12:45] {Threei}  read the last line
[12:45] {Threei}  and join me:
[12:45] {Threei}  (IT) Italy PM Berlusconi: There is no reason to fear the solidity of Italy's finances; has a firm position on the crisis for the next EU summit
[12:45] {Threei}  - Banking problem is primarily a French and Germany issue.
[12:45] {Threei}  get this?? Italy says banking problem is a French and Germany issue
[12:46] {swill} lol
[12:48] {Threei}  the push for less sovereignity continues:
[12:48] {Threei}  (EU) ECB's Trichet: Case for a European finance ministry is growing; authorities should be given more policy role if a member state continues to underperform its targets
[12:48] {Threei}  - Notes that provided aid to states under stress is justified; EMU states should review each other's budgets
[13:28] {Threei}  ugh
[13:28] {Threei}  missed IBM .60 break
[14:38] {swill} oh well 4 of 5 is good
[14:38] {Threei}  4 of 4
[14:38] {Threei}  5th never took place :)
[14:39] {swill} lol
[14:53] {swill} sorry, bad memory
[14:54] {dino}  leaving lots of gaps below
[14:57] {Threei}  no worry, on Wed they anounce Europe is no more and one gap will cover all those
[14:58] {dino} thats what i am wondering
[15:03] {dino} we are up 17% since 10/04 low
[15:05] {Threei}  lol, they'll kill me today with these jokster headlines
[15:05] {Threei}  (IT) Italy Cabinet session ends without any decisions being taken - world press
[15:05] {Threei}  sure - why would they need toi decide anything if banking problems are Germany and France issue?
[15:16] {Threei} Short Setup: RIMM  .35 break
[15:16] {Threei}  stop .41
[15:16] {Threei}  ridiculously tight
[15:17] {dino} in
[15:20] {Threei}  ok RIMM... time to roll over and die
[15:27] {Threei}  that's right, good boy
[15:38] {dino} stop
[15:38] {Threei}  oh well
[15:38] {Threei}  now it's 4 out of 5
[15:38] {Threei}  formally it reaxched 1:1 but it was ridiculous to play for 5 cents
[15:39] {dino} wanted a dime
[15:39] {Threei}  me too
[15:48] {Threei}  slow climb day... miracle that we made any money at all, lol
[15:49] {Threei}  OK guys, thank you all
[15:49] {Threei}  have a great evening, see you tmorrow
[15:49] {swill} thank you

[15:52] {dino} thx all, gn
[15:56] {patience} ty vad, good day for me, back to my daily, one trade on gdx
[15:56] {Threei}  :)
[15:58] {larisa} bye :)

Oct 14 2011

(Participation in the room in real time requires membership)

Let's start with quick update on SVM swing trade. We entered it on a double bottom setup at 7.25 with stop under 6; and took first partial out at 8.65, for +1.40 gain. Stop was trailed to under $7 at that point. Now, as a stock tagged new high just above 9 and pulled back, we see it bouncing off the lower envelope of ascending channel (drawn on the chart below). Ideally, we hold above it and proceed to new highs - in which case we are going to trail stop again under the low of this pullback. If we break down through it and lose 8, it starts looking like H&S. We will see what transpires then and adjust accordingly.

Catch of the Day (no comments needed I believe):

Despite this nice ADBE short, the day ended slightly in red for us - first losing day since Whistler. Ah well. Among other things, do read a discussion of a new course we are working on, started at 11:43.


Session Time: Fri Oct 14 00:00:00 2011
[08:34] {Threei}  - EU's Juncker: Reiterates there is no Euro crisis, though some countries in the EU have debt concerns.
[08:34] {Threei}  lol
[08:38] {nemo} I think spy headed to 128 next stop
[08:59] {z} good morning all :)
[08:59] {Threei}  z :)
[09:00] {swill} good morning
[09:03] {Threei}  swill :)
[09:04] {swill} :)
[09:07] {ese} morning
[09:07] {Threei}  ese :)
[09:13] {dino} gm all
[09:13] {swill} morning
[09:14] {Threei}  dino :)
[09:14] {z} gm
[09:27] {RonS} howdy fellow 99%'ers...'cept ese...
[09:27] {Threei}  ron :)
[09:27] {larisa} gm :)
[09:27] {Threei}  larisa :)
[09:28] {Threei}  as often the case with large gap up, I have no clear play for the open
[09:28] {Threei}  prepare half lot on FCX just in case something shapes up quickly
[09:29] {Threei}  and RIMM
[09:30] {Threei} Short Setup: FCX  .60 break half lot
[09:30] {nemo} that was quick
[09:30] {Threei}  told ya
[09:31] {Threei}  never mind, I doubt anyone could get it
[09:31] {z} lol lightning quick
[09:31] {dino}  nope
[09:31] {nemo} I should just sleep through the first 1/2 hour
[09:31] {Threei}  you mean you normally wake up for this??
[09:31] {dino} i usually only trade vad first 30 min
[09:31] {Threei}  I don't
[09:32] {Threei}  all my caklls within first 30 min are made in deep sleep
[09:32] {nemo} good to know...reminds me of "Thank God I was driving, I was much too drunk to walk!"
[09:32] {Threei} Long Setup:  FCX  .55 break
[09:32] {Threei}  still half lot of course
[09:33] {Threei}  stop under .40
[09:33] {Threei}  1:1
[09:33] {Threei}  this one was gettable
[09:33] {nemo} yeah, but it invalidated
[09:34] {Threei}  ??
[09:34] {nemo} you called it, went down to .38
[09:34] {z} that's what i thot
[09:34] {dino} too busy shoving peanuts in my mouth
[09:34] {Threei}  what are you guys talking about?
[09:35] {Threei}  .38 was hit at 9:31
[09:35] {nemo} T&S
[09:35] {Threei}  never restested since then
[09:35] {nemo} here comes the market rip
[09:35] {Threei}  level 2 never moved even under .50, let alone .40
[09:35] {nemo} this feels like a euphoria day
[09:36] {z} at least u got it vad :)
[09:36] {z} nice
[09:36] {swill} ty
[09:37] {Threei}  after morning rush is over, let's get back to it to make sure we all are using the same tools
[09:38] {Threei} Short Setup: RIMM  .10 break
[09:38] {Threei} Long Setup:  RIMM  .20 break
[09:39] {Threei}  stops are obvious
[09:40] {Threei} Long Setup:  SLW  .20 break
[09:40] {Threei}  RIMM long side it is
[09:41] {Threei}  in SLW on pullback
[09:42] {Threei}  not liking it very much
[09:42] {Threei}  no go
[09:42] {nemo} got that one  ;)
[09:43] {nemo} out rimm too
[09:43] {nemo} don't like this
[09:43] {nemo} big bid .15 rimm, that should be stop
[09:47] {Threei}  ugh... thought of FCX .80 break long
[09:47] {Threei}  it jumped over too quickly
[09:48] {Threei}  ok RIMM, take ,25 and work
[09:50] {Threei}  looking for long SLW on double bottom
[09:50] {Threei} Long Setup:  SLW  .10 break if holding 32
[09:51] {dino}  out rimm -.05 scanners going red
[09:52] {ese} L HPQ .29
[09:52] {nemo} yeah, I'm waiting on the numbers
[09:52] {Threei}  yeah, takes way too long
[09:52] {Threei}  I'd expect much faster resolution in the morning trades
[09:52] {ese} ya........hpq should be up at least .75 right after i buy it
[09:52] {ese} ohhhhhhh.......
[09:53] {ese} not talking about my stock......my apologies
[09:54] {ese} yuk yuk yuk
[09:54] {dino} grrrr
[09:55] {Threei}  wow
[09:55] {dino} cmi sm s .36
[09:55] {Threei}  yikes
[09:55] {Threei}  57.5 vs 60.2
[09:55] {Threei}  confidence
[09:55] {ese} rimm drives me nuts as well dino........have twitchy fingers everytime i buy it....wondering what the H is going to happen this time
[09:57] {ese} check out the spreads on VRUS.......49 that time
[09:57] {Threei}  sheesh
[09:57] {Threei}  lol
[09:59] {Threei}  1:1
[09:59] {Threei}  half out
[09:59] {ese} HPQ setup is right out of your book vad......1min chart......daily looks set to break as well
[09:59] {nemo} what are you in vad?
[09:59] {Threei}  ?
[09:59] {Threei}  SLW?
[09:59] {Threei}  ,10 break?
[10:00] {nemo} ahhh
[10:00] {Threei}  true ese
[10:00] {Threei}  [09:50] {Threei} Long Setup: SLW .10 break if holding 32
[10:01] {nemo} yeah, decided to wait out the numbers
[10:02] {Threei}  market works against it ese
[10:03] {ese} yup
[10:03] {Threei}  stop is trailed under b/e for the balance
[10:04] {Threei}  scalpers win
[10:06] {Threei}  rinsed second half
[10:07] {Threei} Short Setup: LVS  .60 break
[10:07] {Threei}  stop above .70
[10:07] {Threei}  didn't take long
[10:08] {ese} L swks .48
[10:10] {dino}  cov cmi .06 +.30
[10:11] {ese} well done dino
[10:11] {dino} ty
[10:11] {dino} pulp
[10:12] {Threei} Long Setup:  FCX  .95 break
[10:12] {ese} swks stopped }19 - .19
[10:12] {ese} hmmmmmmmm  not having the worlds greatest day here
[10:13] {Threei}  no...large gap up days, rarely conducive for trading
[10:13] {ese} agreed
[10:13] {dino} 07 red
[10:13] {Threei}  if stasys above .85
[10:14] {Threei}  invalidated
[10:14] {dino} gut says down hard
[10:14] {dino} still red
[10:14] {dino} no confirm of mkt
[10:16] {Threei}  your gut is right so far
[10:17] {Threei} Short Setup: SLW  32 break
[10:17] {Threei}  if stays under .10
[10:17] {Threei}  invalidated for now but it can be recurrent theme
[10:17] {Threei}  32 is a very pronounced support
[10:18] {Threei}  look how many times it was tested
[10:18] {Threei}  also, half lot setup:
[10:18] {Threei} Short Setup: X  .50 break
[10:18] {Threei}  SLW valid again
[10:19] {dino} joyg sm s .61
[10:19] {Threei}  let's see if we can start fixing this day
[10:20] {Threei}  X target .30, two partials
[10:20] {Threei}  SLW target .70, three partials
[10:22] {Threei}  X 1:1
[10:23] {dino} joyg bstop is .76 too mich indecision
[10:23] {Threei}  stop for the balance to .51 of course
[10:23] {dino} stop
[10:24] {Threei}  SLW just won't cooperate
[10:24] {Threei}  out X balance
[10:25] {Threei}  no fixing happening
[10:25] {dino} clr spike
[10:26] {dino} odd my 07 scanner mostly red, yet markets holding
[10:27] {dino} joyg rinsed
[10:27] {Threei}  so did SLW
[10:28] {Threei}  look at it
[10:28] {Threei}  1:1
[10:28] {Threei}  frikin bastage
[10:29] {dino} cmi sm s .98 pulp
[10:29] {Threei}  and look at X hitting target
[10:29] {Threei}  this is what I hate the most... random action
[10:30] {dino} cov .55, +.43 cmi
[10:31] {Threei}  great SLW... 1:2
[10:31] {Threei}  gj dino
[10:31] {dino} ty
[10:31] {dino} 07 still red
[10:32] {Threei}  and proceeded roght to the target
[10:32] {Threei}  give me a gun
[10:32] {dino} pru sm s .74
[10:32] {Threei}  that would have been a day-fixing pair of trades
[10:34] {dino} pru bstop is .96
[10:34] {dino} damn
[10:36] {patience} good morning
[10:36] {Threei}  patience :)
[10:36] {nemo} hi patience
[10:36] {nemo} faint vad?
[10:36] {Threei}  ?
[10:36] {nemo} I was relatively cordial and polite
[10:37] {Threei}  yeah, I thought you must've been having a stroke
[10:38] {Threei} Short Setup: SLW  .90 break
[10:38] {Threei}  target .65
[10:38] {dino} mdth?
[10:39] {dino} oh 6.85/sh dis.
[10:39] {z} stop over 32?
[10:39] {Threei}  right
[10:39] {Threei}  perfect setup
[10:39] {Threei}  it just can't not work
[10:40] {Threei}  or my name is not Gustav Gomez
[10:40] {nemo} if spy is double bottoming it can
[10:40] {Threei}  1:1
06[10:40] * Threei slaps nemo around a bit with a Gustav Gomez banner
[10:41] {Threei}  stop .91
[10:43] {dino} vmi
[10:44] {dino} smr l .83
[10:45] {RonS} sheesh vmi beat
[10:45] {dino} yeah
[10:45] {dino} and confirmed lower end guidance
[10:45] {dino} but, hooker
[10:46] {Threei}  second half b/e
[10:47] {Threei}  of course now it will move to the target
[10:52] {nemo} adbe bid wow
[10:53] {Threei} Short Setup: ADBE  27 break
[10:54] {RonS} took vmi .20 to .80  thanks dino
[10:55] {dino}  still in, gj
[10:56] {dino} wall .00
[10:56] {Threei}  die ADBE
[10:56] {Threei}  tagert 1:4
[10:57] {Threei}  3 partials
[10:57] {dino} puts a smile on my face
[11:00] {Threei}  1:1
[11:00] {Threei}  oh boy
[11:00] {Threei}  (US) Senior US official: allied nations need to take urgent action to prevent anti-aircraft missiles in Libya from falling into the wrong hands
[11:00] {Threei}  great... we helped another taliban
[11:03] {dino} vmi to .00
[11:14] {dino} stop vmi 85, +1.16
[11:14] {RonS} gj
[11:14] {dino} ty
[11:24] {dino} 07 red
[11:26] {dino} cat one minute
06[11:27] * Threei hits ADBE over the head with 2x4
[11:28] {Threei}  1:2
[11:28] {Threei}  ummm
[11:28] {Threei}  1:3
[11:29] {Threei}  give me 8 cents more, ADBE
[11:29] {Threei}  won't fix the day fuully but will help both, day's balance and self-respect
[11:30] {Threei}  good enouh
[11:30] {Threei}  1:4
[11:30] {nemo} stay in it until .50 area
[11:30] {Threei}  me out
[11:30] {Threei}  no
[11:30] {nemo} fine
[11:30] {Threei}  this is as far as I could see it from the beginning of the trade
[11:31] {nemo} hahahaha
[11:31] {Threei}  that's fine
[11:31] {Threei}  I trade what I can read
[11:31] {nemo} Phhhhhhhhttttttt!
[11:31] {Threei}  anyone did this one??
[11:31] {Threei}  or you lost faith in me completely?
[11:32] {nemo} I found it...they have faith in me
[11:32] {nemo} right
[11:32] {dino} vmi sm l .25
[11:34] {Threei}  sounds like neither, lol
[11:37] {RonS} ha...daughter just posted that at ikea in shanghai chinese families bring picnic baskets and camp out in the rooms for the entire day
[11:38] {dino} lol
[11:38] {Threei}  sounds fun
[11:38] {Threei}  http://www.facebook.com/photo.php?fbid=273891732645509&set=a.237133656321317.63196.235739863127363&type=1
[11:39] {Threei}  look at it, then I'll tell you about an idea I have
[11:42] {ese} signing off.....still Long hpq.......and holi from yesterday.....cya monday
[11:42] {Threei}  take care ese
[11:42] {Threei}  you won't find out about my idea
[11:43] {z} the suspense builds...
[11:43] {Threei}  ok
[11:43] {ese} i'll call ya
[11:43] {ese} cya
[11:43] {Threei}  so, I said a few times that I plan a new course,
[11:43] {dino} cya
[11:44] {Threei}  no theory, prely practical one,
[11:44] {Threei}  aimed at chart pattern recongition
[11:44] {Threei}  over a hundred trades
[11:44] {Threei}  all actual ones, called in the room
[11:44] {Threei}  with structure of the setup outlined on the chart
[11:45] {Threei}  and explanation of setup elements, brief and basic
[11:45] {Threei}  broken down by categories: breakjout, breakdown, reversal
[11:45] {Threei}  So, here is an additional twist I am thinking about
[11:46] {Threei}  aside of this, I want to include a video that takes a viewer through the lineup of typical charts, each repeated twice:
[11:46] {Threei}  without and with annotation
[11:46] {Threei}  with increasing speed
[11:46] {Threei}  to train pure visual recognition of the pattern
[11:46] {Threei}  so a viewer learns to catch the developing asetup from a single glance
[11:47] {Threei}  how does this sound?
[11:47] {RonS} intriguing
[11:47] {Threei}  something useful, or I a hallucianating?
[11:47] {dino} makes sense
[11:47] {RonS} first part had me thinking ...well, it is different in real time...
[11:48] {Threei}  well, that we had in scalping videocourse
[11:48] {Threei}  trades recorded real time
[11:48] {Threei}  adding this as a chart readung course, I'll cover all the bases
[11:48] {RonS} yes, well pattern recognition i always go back to chess
[11:48] {Threei}  true
[11:49] {RonS} multitude of patterns and takes 10 years to master
[11:49] {Threei}  in fact, I had this example during Whostler conference when talked about pattern recognition
[11:49] {Threei}  training camp for young Soviet chess players,
[11:49] {Threei}  1977
[11:50] {Threei}  head of training is David Bronstein
[11:50] {Threei}  look him up
[11:50] {Threei}  5 of us are analyzing position
[11:50] {Threei}  trying to caluclate, calculate, calculate
[11:50] {Threei}  he walks by
[11:50] {Threei}  pauses for a few seconds,
[11:51] {Threei}  glances at the desk,
[11:51] {Threei}  says: move this here, this there, you get what you want
[11:51] {Threei}  takes us about 20 min to analyze it to the end, and to see he gave us solution
[11:51] {Threei}  later during dinner I ask him
[11:51] {Threei}  how on earth can you calculate this fast?
[11:52] {Threei}  he says: I don;t
[11:52] {Threei}  I just see it
[11:52] {Threei}  was quite a revelation for me at the time
[11:52] {Threei}  but I was 16 :)
[11:52] {Threei}  now I know exactly what he meant
[11:52] {Threei}  so yor chess analogy is very precise
[11:56] {RonS} not mine...from one of the originators of cognitive science...sorry, but cannot remember the name due to cold and the fact that it was in a '90's forbes interview article
[11:58] {Threei}  that's fine, I'd forget it in 30 seconds anyway
[11:58] {Threei}  takes me a few minutes in the morning to remember mine
[12:00] {RonS} found it...Herbert Simon...actually one of the pioneers of artificial intellignce..which make sense, since you need pattern recognition for that
[12:01] {Threei}  right
[12:03] {RonS} http://www.newworldencyclopedia.org/entry/Herbert_Simon
[12:04] {RonS} so dino, does fcx find support here or go for a gap fill?
[12:06] {dino} out vmi .75, +.50
[12:08] {RonS} gj
[12:08] {dino} ty
[12:09] {dino} fcx, depends on mkt imo
[12:09] {dino} it trades w/it
[12:09] {dino} brb
[12:22] {dino} vmi continues w/o me ugh
[12:22] {swill} I'm interested in a visual coarse. I did well in drafting and geomitry
[12:24] {swill} but not spelling
[12:24] {Threei}  lol
[12:25] {swill} :)
[12:48] {dino} .
[12:55] {RonS} for some reason i have started wondering if a stock pattern recognition game would have value
[12:56] {dino} thats what i look for
[12:56] {RonS} similar to a computer generated card game it might give the participant experience in pattern recognition as well as playing the percentages of wins and loses
[12:56] {Threei}  boardgame?
[12:56] {dino} "gut" feel is most likely sub concious recognition of pattern
[12:56] {RonS} computer game
[12:56] {Threei}  I totally agree dino,
[12:57] {Threei}  it's an arsenal of recongizable situations one has amassed over timne
[12:57] {RonS} i guess one of the intents is to get over the reticence to act...
[12:57] {dino} the markets have turned into tape readers/patterns. fundies are dead
[12:57] {Threei}  Ron... imagine cost of development vs. potential client base... :)
[12:58] {RonS} ya, well, just trying to think here...dangerous i know
[12:58] {Threei}  don't tell nemo
[12:58] {RonS} dad used to say:  boy, you think too much...
[12:58] {Threei}  he starts spitting fire when people think around him
[12:59] {dino} ron, vmi ran 4 bucks from my original entry
[12:59] {RonS} ya, heartbreaker...
[13:00] {dino} indeed
[13:03] {RonS} anyone see a trigger on mcp if it consolidates here...
[13:08] {dino} break .00
[13:08] {dino} s break .84
[13:15] {nemo} new highs coming today me thinks
[13:18] {dino} leaving behind some serious gaps
[13:18] {dino} 11477, 11103; 2325, 2202; 1203, 1155.  gaps have been filling consistantly
[13:18] {nemo} iwm likely get's to 71.50 area before market thinks about a real pullback
[13:20] {dino} out mcp .13, +.12, ty ron for heads up
[13:37] {dino} mchp l .37
[13:37] {RonS} seems thick...
[13:38] {dino} y
[13:38] {RonS} opposite of pulp...
[13:38] {dino} y, stop is .34
[13:38] {dino} stop
[13:43] {RonS} selloff after a runup w/ downgrade today...
[13:46] {dino} stops and holds, hmmm
[13:46] {dino} ransed
[13:46] {dino} rinsed
[13:46] {dino} was running .43-.60 for awhile
[13:46] {dino} last try l .40
[13:46] {RonS} in at .38
[13:47] {RonS} out at .40
[13:47] {RonS} too dang thick
[13:48] {dino} lol
[13:48] {dino} starting to think that
[14:09] {RonS} eu, gr, and slovakia:  http://tinyurl.com/3nscajo
[14:11] {RonS} ah, it made my cold feel better...just has 3i's second most fave dish besides broccoli:  pea soup
[14:11] {RonS} had
[14:11] {Threei}  lol
[14:12] {dino} sell off coming
[14:14] {dino} cat hl s ,44\
[14:18] {dino} serious thunderstorm here
[14:19] {RonS} ...trying to tell us you have the clap?
[14:19] {dino} nepa most rain received in 117 years this year
[14:19] {RonS} :P
[14:26] {dino} cov cat +.1o
[14:30] {dino} ovti drop
[14:33] {RonS} got the mibbet boot...ovti blood
[14:34] {RonS} OVTI rumor not in new iphone
[14:35] {RonS} anyone here i lost the prior messages...
[14:35] {dino} ovti blood i typed
[14:36] {Threei}  OmniVision Technologies Inc Ticks lower as online report speculates that the iPhone 4S imaging sensor may be from Sony rather than OVTI
[14:38] {dino} sm l .40
[14:40] {dino} out .90, +.50
[14:43] {dino} tough crowd
[14:44] {RonS} arm worn out from patting you on the back...
[14:45] {RonS} :)
[14:45] {dino} lol, i'll be quiet
[14:46] {Threei}  lol
[14:47] {dino} but i think theres another trade in it
[14:48] {RonS} 3i, casual suggestion: do more post on individual issues...i think it will generate more followers faster re stocktwits
[14:49] {Threei}  by individual issues you mean...?
[14:49] {Threei}  partcular stocks?
[14:49] {RonS} also another:  spell out you acronymsn for the unwashed crowd
[14:49] {RonS} acronyms
[14:49] {RonS} yes, every time you do a different stock it goes on that board w/ different followers
[14:50] {Threei}  got it
[14:50] {Threei}  whole thing is unnatural to me
[14:50] {Threei}  I am not in my element with this tweeting thing
[14:51] {RonS} you are doing fine...very professional
[14:51] {RonS} cut above the masses
[14:52] {RonS} also, you may want to find out if you can bounce those followers of yours who are there just to pimp themselves
[14:52] {RonS} i found it upsetting and somewhat disgusting...
[14:53] {nemo} wow, thanks ron
[14:53] {Threei}  how do they do it?
[14:53] {Threei}  in hope that I follow them back?
[14:53] {Threei}  well, I don't really... I am quite antisocial :)
[14:54] {Threei}  which makes me odd thing in social media
[14:54] {RonS} dunno...but this is Howard Linzon's (sic?) baby...i get the feeling that he is approachable and addresable on any issue
[14:54] {RonS} addressable
[14:55] {RonS} ...they are linked into to you and probably anyone to fish people to them
[14:56] {RonS} i consider it a form of spam
[14:58] {Threei}  well... with all my opposition to social media, let me show you something...
[14:59] {dino} going for hod
[15:00] {Threei}  I started first movemetns in social media at rthe end of July
[15:00] {nemo} yeah, kicking and screaming
[15:00] {Threei}  look at this screenshot of average daily traffic on realitytrader
[15:00] {Threei}  right :)
[15:00] {Threei}  http://www.realitytrader.com/vad/AverageDailyStats.jpg
[15:01] {Threei}  tell me when done, I want to delete it
[15:01] {nemo} done
[15:01] {Threei}  pay atention to yellow part mostly, it's visits per day
[15:01] {dino} i'm going to have to start charging you
[15:01] {Threei}  lol
[15:01] {Threei}  see it ron?
[15:01] {RonS} done, it can really ramp w/ more issues...should lead to subs...
[15:02] {Threei}  so, to me it's kind of: I hate it but it works
[15:02] {Threei}  Facebook is more or less bearable, I can do it on my terms so to speak
[15:02] {RonS} it's called exposure...
[15:02] {Threei}  but twitter I find insufferable
[15:04] {RonS} well , i think facebook is worse...insufferable pap...
[15:04] {Threei}  see, on facebook I can just post
[15:04] {Threei}  let people find it
[15:05] {Threei}  twitter by its fleeting nature requires constant involvement
[15:05] {RonS} ya know, there is a casual association of respectable posters and/or service provders that truly try to help people much like youself
[15:05] {Threei}  otherwise you disappear from the surface in a blink of eye
[15:06] {RonS} if you can garner their repect and association then you will see another ramp in traffic
[15:06] {RonS} respect
[15:06] {Threei}  problem is, for that you need to atcually start conversing with people... contacting them...
[15:06] {Threei}  talking to them...
[15:07] {Threei}  and that's what I am so not good at or up to :)
[15:08] {RonS} well, it may be as easy as following them to engender them following you, if they happen to read your stuff
[15:08] {RonS} one example would be Ryan Baird
[15:08] {RonS} no service just info and he runs his own book
[15:11] {RonS} delete later if you wish:  http://stocktwits.com/ryandbaird
[15:13] {Threei}  I see what you mean
[15:14] {nemo} what also happens is people begin o retweet you and call you out for your expertise
[15:14] {nemo} http://www.youtube.com/watch?v=Vyt0TuqlReg&feature=youtu.be
[15:17] {RonS} ...thinkin bunny is ashamed now...
[15:18] {RonS} ...trainwrecks are easier to watch...
[15:18] {Threei}  lol
[15:29] {z} red day, flat week for me..have a great weekend all, cya monday
[15:29] {RonS} cya z
[15:30] {Threei}  red day here too z
[15:30] {z} no worries, monday starts all over :)
[15:30] {nemo} oh well Ron
[15:30] {Threei}  no... it's not like we are under promise or obligation never to have one
[15:30] {nemo} what...there's no guarantee...?
[15:31] {dino}  ok, bus stop calls, thx all, good time
[15:31] {nemo} drivin' today Dino?
[15:33] {dino} lol, no, just walking to meet daughter
[15:33] {dino} she likes the dogs to meet her w/me
[15:34] {RonS} hope those not the other mothers...ooops
[15:38] {swill} It was my first day trading today and I am $20 is the green.  Small beginnings.
[15:38] {Threei}  wtg
[15:38] {Threei}  and congratulations
[15:39] {swill} Thanks to the management and me
[15:42] {cipher}  my first daytrading day in years too...
[15:42] {cipher} up on gross but slightly down after comms
[15:42] {Threei}  Ok guys, I guess I'll better admit it's a red day and leave at that
[15:43] {cipher} at least I don't feel like a schmuck :-)
[15:43] {Threei}  no need to to dig deeper hole
[15:43] {Threei}  lol
[15:43] {Threei}  no cipher :)
[15:43] {Threei}  that 1:4 trade erased much of losses
[15:43] {Threei}  but not all
[15:43] {Threei}  so that's what I will leave with
[15:43] {Threei}  have a great weekend
[15:43] {Threei}  we will get them next week
[15:44] {Threei}  unless they close the market
[15:44] {nemo} BOHICA!!!!!!
[15:45] {Threei}  see you on Monday
[15:45] {cipher} have a good weekend 3i and all
[15:59] {dino} back, too funny ron
[16:00] {dino} gj swill, cipher

Sep 27 2011

(Participation in the room in real time requires membership)

Let's start today's log with updates on SPY and swing trade SVM since both put on some meaningful changes today.

Addition: end of day selling, even though (barely) left us within the channel, took a lot of luster off the rally. If I were a bull, I would be alarmed. Shakiness of a rally based on hope for the next fix...

SVM daily - so far so good, not only double bottom support held, but it a stock also demonstrated nice relative strength during big market selloff, and returned into profitable territory above the entry:

As most of gap up and slow climb days, this one wasn't exactly our trading environment. Best trade came when market reversed; wasn't enough to take us back into positive though.


Session Time: Tue Sep 27 00:00:00 2011
[08:46] {Threei}  European shares continued to rally after policy makers in Europe are making more efforts to deal with the crisis in the Eurozone. An option being discussed is the European version of the TARP where a 'bad bank' would be created to buy the toxic sovereign debt. This and other options are being discussed.
[08:49] {Threei}  http://www.facebook.com/RealityTrader/posts/266119143422768
[08:51] {patience} good morning
[08:51] {Threei}  morning patience
[09:05] {Threei}  SVM swing trade plays out nicely so far
[09:08] {nemo}  we just hit daily R2 in the pre market
[09:16] {dino} gm all
[09:17] {RonS} gm...eur futes really whippy...feel like today will be tough
[09:17] {Threei}  dino :)
[09:17] {Threei}  ron :)
[09:17] {Threei}  it's a very shaky rally
[09:18] {Threei}  that's why it's so whippy and jerky,
[09:18] {Threei}  ready to retreat on moment's notice
[09:20] {nemo} it's life by the headline
[09:21] {larisa} gm :)
[09:21] {Threei}  larisa :)
[09:21] {larisa} vad :)
[09:21] {Threei}  I don't have clear opening trade
[09:21] {nemo} probably better anyway
[09:21] {Threei}  let's wait out first mniutes
[09:22] {dino} markets remind me of : pins and needles, needles and pins, the happy man is the man that grins (honeymooners)
[09:25] {Threei}  :)
[09:26] {Threei}  FCX begs to be shorted
[09:26] {Threei}  so does SLW
[09:26] {Threei}  if we are lucky they will give clean setup
[09:27] {thomcbell} decent volume on fcx for pre-open though
[09:28] {dino} mind the gaps, 11122, 2258, 1166
[09:31] {Threei} Short Setup: FCX  .90 brewak
[09:31] {Threei}  haklf lot
[09:31] {dino} filled
[09:32] {Threei}  invalidated but remains on radar
[09:32] {Threei} Short Setup: FCX  .20 break
[09:32] {Threei}  stop above .30
[09:32] {Threei}  1:2
[09:33] {ese} gm
[09:33] {nemo} right
[09:33] {Threei}  ese :)
[09:33] {Threei}  SLW
[09:33] {Threei}  sharp spike
[09:33] {Threei}  looking for short entry
[09:34] {Threei} Short Setup: FCX  36 break
[09:34] {Threei}  half lot again
[09:34] {nemo} so fast
[09:35] {Threei}  and 1:1 again
[09:35] {z} couldn't catch that one
[09:35] {Threei}  if you are not getting filled, do not chase
[09:35] {Threei}  just let them go
[09:35] {Threei}  and whatever you do, NO MARKET ORDERS
[09:35] {Threei}  FCX horrible death
[09:35] {Threei}  looks at this
[09:36] {nemo} wow...wag
[09:37] {Threei}  SLW, never gave entry
[09:41] {ese} Lftk .46
[09:42] {dino} csh sm l .53
[09:42] {Threei} Long Setup:  FCX  .50 break
[09:42] {Threei}  half lot still
[09:42] {Threei}  if stays above .35
[09:43] {Threei}  invalidated
[09:43] {Threei} Long Setup:  SLW  .65 break
[09:43] {Threei}  change to .60 break
[09:43] {Threei}  if holding .50
[09:44] {thomcbell} excellent fcx
[09:44] {ese} out ftk .46
[09:44] {thomcbell} flat here
[09:44] {ese} even
[09:44] {ese} hmmmmmmmmmm
[09:44] {Threei}  invalidated
[09:44] {ese} feelin out of sync again
[09:46] {Threei} Long Setup:  RIMM  .80 break
[09:47] {Threei}  if stays above .80 if course
[09:47] {nemo} ?
[09:47] {Threei}  .70
[09:47] {Threei}  SLW guves no chance today
[09:47] {Threei}  look at this jump
[09:49] {Threei}  RIMM hammer
[09:49] {nemo} resistance at .95
[09:49] {Threei}  not 22?
[09:49] {Threei}  to me 22 loks more significant
[09:51] {ese} boy am I outta sync....ftk gave me what i wanted....daaaaaaaaaa!!!!!
[09:52] {dino} meli sm l .70 ave
[09:52] {ese} well......on the good side.....I met the Governor General of Canada yesterday......my pop choir got a standing ovation at city hall Vad......
[09:52] {Threei}  cool :)
[09:52] {ese} very nice man
[09:53] {ese} wanted to tell him to put in a good for us with the queen but didn't have the nerve
[09:53] {ese} word
[09:53] {Threei}  hehe
[09:53] {Threei}  SLW, we got the direction correct twice, and haven't found an entry in either case
[09:54] {nemo} numbers coming
[09:55] {Threei}  consumer confidence and richmond fed
[09:55] {Threei}  let's sell half RIMM here
[09:55] {Threei}  to cut risk down
[09:55] {Threei}  was 1 cent from 1:1
[09:56] {dino} out meli .05, +.35
[09:56] {Threei}  and trail stop to .74 for another half
[09:56] {dino} out csh .18, +.65
[09:57] {Threei}  wtg
[09:57] {Threei}  (GE) Eleven MPs from the German ruling coalition (CDU/FDP) are said to vote against EFSF, two abstain in test vote ahead of official vote on Thurs. Sept 29th - financial press
[09:57] {Threei}  **Reminder: On Sept 6th financial press report of a test vote indicated 12 dissenters in the CDU with 7 abstentions. with another 2 dissenters in her FDP ally.
[09:57] {Threei}  - Chancellor Merkel would require opposition for majority if 21 lawmakers vote no/abstain.
[09:57] {dino} thx
[09:59] {Threei}  *(US) SEPT RICHMOND FED MANUFACTURING INDEX: -6 V -11E
[10:00] {Threei}  *(US) SEPT CONSUMER CONFIDENCE: 45.4 V 46.0E
[10:01] {Threei} Short Setup: X  .40 break
[10:01] {Threei}  half lot
[10:02] {Threei}  stop above .50
[10:02] {thomcbell} amzn horrible action
[10:03] {Threei}  1:1
[10:04] {Threei}  out RIMM
[10:04] {Threei}  X 1:2, out
[10:05] {dino} 07 red
[10:05] {dino} gj
[10:05] {Threei}  good risk management on RIMM
[10:05] {Threei}  +.03 and -.07 oin what would have turned a full stop
[10:09] {Threei} Short Setup: X  .40 break
[10:09] {Threei}  deja vu
[10:11] {Threei}  stop above .50
[10:13] {Threei}  no go
[10:15] {Threei}  (GE) Germany Chancellor Merkel said to have informed party members that a Greece default cannot be ruled out - financial press
[10:15] {Threei}  see this spike down SPY?
[10:15] {Threei}  market is totally "headline to headline"
[10:19] {ese} agreed
[10:20] {Threei} Short Setup: SLW  34 break
[10:20] {ese} L nuan .70
[10:20] {Threei}  if stays under .10
[10:20] {ese} blast from the past
[10:20] {Threei}  target 1:3
[10:21] {Threei}  wow, really... haven't heard this name in a while
[10:21] {dino} neog sm l .83
[10:23] {Threei}  no wprky SLW
[10:23] {ese} well done on csh by the way dino
[10:23] {nemo} rimm
[10:24] {Threei}  RIMM Hearing vague chatter that Icahn may be building a stake
[10:24] {Threei}  no way
[10:24] {ese} like that....no waperky
[10:25] {dino} thx ese
[10:25] {Threei}  IMO RIMM is short
[10:25] {Threei}  but entry is tough
[10:25] {Threei}  very hectic trading
[10:26] {Threei}  this is bogus rumor
[10:27] {ese} interesting rumor
[10:28] {thomcbell} he was involved on MOT for a while
[10:29] {ese} lets go nuan.........me thinks you have 21 in ya
[10:31] {Threei} Long Setup:  FCX  .55
[10:31] {Threei}  if stays above .45
[10:32] {Threei}  RIMM looks exhausted
[10:32] {Threei}  but still too jumpy for my taste
[10:33] {nemo} vwap .66 for fcx
[10:34] {Threei}  my target is .95, 3 partials
[10:36] {Threei}  FCX, are you blind? look at SPY
[10:36] {dino} out neog .15, +.32
[10:36] {Threei}  huh.. no worky
[10:36] {ese} out 1/2 nuan .80 +.10
[10:36] {Threei}  not delighted... 3 in a row
[10:37] {Threei}  backing off a bit
[10:46] {ese} out in full nuan .88 +.18
[10:46] {Threei}  nice
[10:47] {ese} no sense in getting greedy now
[10:47] {Threei}  FCX rinsed us
[10:47] {Threei}  not nice of it
[10:48] {nemo} we might get a move here, subtle uptick in spy volume since 10:35
[10:54] {dino} gj ese
[10:54] {dino} aeh spike
[10:57] {Threei}  grrr
[10:57] {Threei}  hate rinses
[10:59] {ese} tks
[10:59] {nemo} .50 area next tarkegt for spy
[11:00] {dino} neog sm l .17
[11:00] {Threei}  and here is FCX, proceeding to my 1:4 target
[11:00] {nemo} yeah, went with spy
[11:00] {Threei}  someone shoot me
[11:01] {swill} I'll take the market out back and shoot it
[11:01] {Threei}  even better
[11:02] {Threei}  nemo must be losing his touch...
[11:02] {Threei}  I suggest to sholot me, and he doesn't pull the trigger and reload that very second?
[11:02] {nemo} you've asked so many times
[11:02] {Threei}  we might be seeing wat no one ever thought we would: kinder gentlier nemo
[11:03] {nemo} bored nemo
[11:03] {nemo} it's rabbit time!!!!
[11:03] {nemo} kicking myself for not taking tna when I alerted the spyvolume
[11:04] {nemo} I think 121 area possible today in spy
[11:04] {ese} huh!!!!!!  kinder gentler.......sheesh
[11:04] {Threei}  hard to imagine eh?
[11:05] {ese} daaaaaaaaa  and just as i say that the blast from the past makes a run at 21....sucre blu......
[11:06] {ese} why I otta.........
[11:06] {dino} neog stop ..87 -.30
[11:06] {swill} It's always darkest before pitch black, then the light
[11:08] {ese} speaking of blast from the past.......would that handle be middle ages swill.......or Roman swill.......or even viking swill........hmmmmmmmm   got me thinkin
[11:08] {Threei}  ese, before you go too far on this dubious road and hurt yourself - you do remember that thinking is harmful and actually strictly fdorbidden here?
[11:09] {swill} lol
[11:09] {ese} ahhhhhhhh........ya your right boss......it won't happen again
[11:09] {Threei}  I mean, no matter how soft nemo could have gine on us, thinking is something that he will punish as sure as feed his rabbit
[11:10] {dino} somebody slap him
[11:11] {nemo} did I tell ya' bunny bit me yesterday...thought we were playing, guess she thought otherwise.  Those are 4 big teeth
[11:12] {ese} but wait a minute..........nemo thinks all the time.....thats not fair........"wahhhhhhh!!!!....whine complain wahhhhhhh!11
[11:12] {ese} ok....thats my temper tantrum for the day
[11:12] {ese} i'm good
[11:12] {Threei}  lol
[11:13] {Threei}  AAPL... iPHone 4 is coming next week
[11:13] {nemo} not true...I think outside the trading day...I've just been reporting on what I see
[11:13] {Threei}  fnally
[11:13] {Threei}  I ignored 1, 2 and 3 - now I finaly get to ignore 4
[11:14] {RonS} am waiting for the iphone10...
[11:14] {ese} lol
[11:14] {ese} eggzactilly
[11:15] {ese} thats supose to be the one with the Star Trek teleporter built in isn't it?
[11:15] {RonS} or until the blackberry changes to the raspberry...hum...may have already happened...
[11:15] {Threei}  and bottle opener
[11:16] {nemo} dingleberry
[11:16] {Threei}  RIMM
[11:16] {Threei}  MUST BE TIME TO SHORT
[11:16] {Threei}  23 BREAK
[11:16] {ese} you point it at yourself and your instantly transported trough the telephones to whomever your talking too i believe
[11:16] {Threei}  sorry caps
[11:16] {RonS} for the amish...lingenberry...
[11:16] {ese} lol
[11:16] {Threei}  in
[11:17] {Threei}  target 1:4
[11:17] {nemo} stop?
[11:17] {Threei}  .10 or .15
[11:17] {Threei}  both are valid
[11:17] {nemo} vwap .65
[11:17] {Threei}  no more games RIMM, just roll over and die
[11:20] {ese} how dare you say that vad.....it's a canadian company....it has rights
[11:21] {Threei}  it has right to drop....
[11:21] {Threei}  especiaally when I am short
[11:21] {ese} definitely
[11:21] {nemo} yeah, a right to euthanasia
[11:21] {RonS} ya, like the right to go out of business...
[11:21] {ese} more definitely
[11:21] {ese} ya ya.....thats it
[11:21] {nemo} I think this Icahn thing holds it up most of the day
[11:21] {Threei}  and I'd greatly appreciate it exercising this right
[11:22] {nemo} I thik it drops .98 here might have a chance
[11:22] {Threei}  I just don't bwelieve that Icahn thing
[11:22] {nemo} me neither but "news" is what is moving the market
[11:23] {nemo} you're thinking Vad
[11:23] {Threei}  (GE) Germany Econ Min Roesler reiterates that a leveraging of the EFSF is not an option
[11:23] {Threei}  I am lost
[11:24] {nemo} btw, spy bounce at .72 area reasonable
[11:24] {Threei}  if germaany doesn't leverage EFSF, doesn't it mean EFSF is dead?
[11:25] {Threei}  (HU) Moody's comments on Hungary Govt change to mortgage contracts; feels a dangerous precedent has been set
[11:26] {nemo} we should hear about a Eurobond soon
[11:26] {RonS} out rimm
[11:29] {ese} am outta here.....catch you all tomorrow
[11:30] {Threei}  take care ese
[11:32] {nemo} http://www.dailymail.co.uk/sciencetech/article-2042428/Earth-cross-hairs-huge-solar-storm-caused-sunspot-1302.html
[11:33] {dino} cya ese
[11:37] {RonS} hmmm. dax closed just shy of +5%
[11:38] {dino} sm l .54 neog
[11:38] {Threei}  OK, today is officially not my day
[11:39] {Threei}  second rinse in a row
[11:50] {nemo} tna could be a play with spy moving above .75
[11:51] {nemo} iwm holding well
[11:51] {nemo} spy at vwap btw
[11:54] {nemo} in .08
[11:54] {Threei}  RIMM does FCX... proceeds toward the target, after shaking us out
[11:54] {nemo} 1/2 .25
[11:54] {nemo} stop to b/e
[11:56] {nemo} might add back spy above .85
[11:57] {nemo} damn stuck edgx quotes...why does that happen with them alone
[11:57] {nemo} 1/2 out again .38
[11:58] {nemo} stop .14
[11:58] {Threei}  nice
[11:58] {nemo} ty
[11:59] {nemo} spy was at vwap and the morning trendline, not to mention just above R2, figured those were supports
[11:59] {nemo} took the other half the second here
[12:00] {nemo} I'll have to record that T&S pattern between spy and IWM/TNA...I see that regularly
[12:01] {nemo} they both bid up to a level, then sell down.  spy bids back up to the level but IWM does not.  Spy then sells down again.  The third time spy rebids the level and then breaks, it goes
[12:02] {nemo} IWM actually lead the spy break but spy is moving up
[12:04] {nemo} might take a 1/2 lot more if spy get's .05
[12:05] {nemo} stop under .20 now
[12:06] {nemo} having said that, spy has trend support at .85
[12:07] {nemo} added .41
[12:07] {nemo} half lot
[12:08] {nemo} eh. out that .43 don't like the resistance at .50
[12:08] {nemo} probably wussed
[12:08] {nemo} yep
[12:08] {nemo} but, was trying to anticipate momo
[12:08] {Threei}  well played anyway
[12:09] {nemo} ty
[12:09] {nemo} still might work, I'm just not a good momo player
[12:09] {nemo} wuss wuss wuss wuss wuss wuss wuss
[12:11] {Threei}  hmmm... think it was a little on a wussy side?
[12:11] {dino}  lol
[12:11] {nemo} yeah, but I still have half the original, I just got out of the re buy
[12:11] {nemo} small consolation, I know
[12:12] {nemo} the emotional damage to my self esteem for being a wuss, is greater than the financial reward....sniff
[12:12] {nemo} I'll take it here .74
[12:13] {nemo} I think spy goes to .65 anyway, but, as we said, I'm a wuss
[12:24] {nemo} spy forming C&H
[12:24] {nemo} or DT
[12:24] {nemo} TT
[12:25] {nemo} having said that .72 is vwap and .50% july 10 retracement support with trendline at .95
[12:29] {Threei}  total puzzle to me:
[12:29] {Threei}  Royal Bank of Canada SEC said to sue over the sale of unsuitable CDO investments to Wisconsin school districts - financial press- RBC to pay approx $30M to settle the suit. ***Reminder: On Aug 10th, there were press reports that RBC was facing a SEC probe in relation to sales of derivatives to school districts in Wisconsin
[12:29] {Threei}  how on earth someone could sell to them what they didn't need or want?
[12:29] {dino} by lieing to them
[12:30] {dino} speling
[12:30] {dino} spelling, sheesh
[12:30] {Threei}  hehe
[12:31] {Threei}  so it's a case of misrepresentation? then yes, I understand it
[12:31] {Threei}  but on the surface, it sounds to me like another one of those cases where willing buyer gets bruned, then goes ahead and sues a seller
[12:33] {nemo} mmmhhhh...US exchanges want tighter circuit breakers...now why would that be...down elevator anybody...
[12:34] {Threei}  as if those curcuit breakers help halt the decline
[12:35] {Threei}  hmmm... this selling feels like news-caused but I see none
[12:37] {nemo} triple top, just bounced at vwap, still technical
[12:42] {Threei}  TZA
[12:42] {Threei}  44 break
[12:43] {Threei}  after some consolidation
[12:43] {Threei}  with target .45
[12:45] {nemo} major spy support .62 area
[12:49] {Threei}  becomes inetersting as a bounce
[12:51] {Threei}  .65 break
[12:51] {Threei}  if stays abive .50
[12:53] {Threei}  invalidated
[13:01] {Threei} Long Setup:  TZA  .50 break
[13:01] {Threei}  if stays above .35
[13:01] {nemo} wow
[13:01] {Threei}  in on pullback
[13:02] {Threei}  *(US) TREASURY'S $35B 2-YEAR NOTE AUCTION DRAWS: 0.249%; BID-TO-COVER RATIO: 3.76 V 3.44 PRIOR AND 3.33 AVG OVER LAST 10 AUCTIONS- 19.45% allotted at the high - Indirect bidders take 36.75% of competitive bids, direct bidders take 12.16%, primary dealers take 51.1%.
[13:03] {Threei}  (IT) S&P lowers unsolicited long-term ratings of eleven Italian local and regional governments to A from A+- Standard & Poor's lowered its long-term issuer credit ratings on the 11 Italian local and regional governments (LRGs) listed below to 'A' from 'A+'. The outlooks on the long-term ratings on these LRGs remain negative.
[13:06] {Threei}  I need 25 cents coin, to go to a public phone and try to trade it for a phone call. I am sure I won't be successful today
[13:10] {dino}  out neog .30, +.76
[13:10] {Threei}  wtg
[13:10] {dino} ty
[13:11] {Threei}  if you completely ignored me today and followed nemo and dino, you made the best possible trade today
[13:11] {dino} everybody has those days
[13:12] {Threei}  today you two are a windshiled
[13:13] {dino} and you are the bug
[13:13] {Threei}  that's what I meant :)
[13:14] {nemo} and what's the last thing that goes through a bug's mind when it hits the windshield?
[13:14] {dino} hey, how about my friday +300 call for monday
[13:14] {Threei}  look at me comment yesterday eod:
[13:14] {Threei}  15:34] {Threei} oh, nd dino was correct about today
[13:14] {Threei}  [15:35] {Threei} good read on his part
[13:15] {dino} ahh, missed that mibbet booted around 2:00
[13:16] {dino} it will most likely stop, but markets are trading to gaps regularly
[13:17] {Threei}  yeah, yesterdfay was a connection hell
[13:17] {Threei}  just wanted you to know, the read was noticed and acknowldeged
[13:18] {dino} and today we leave gaps below, so....give or take within 7 days we most likely fill them
[13:18] {Threei}  under one condition
[13:18] {dino} yes?
[13:18] {Threei}  that the news flow doesn't throw any technical read under the bus
[13:18] {dino} well, the news is what is creating, then filling gaps
[13:19] {Threei}  they put 2T kindle in the market fire, we rally like in 1998
[13:19] {Threei}  they say no more bailouts, we drop like in 2001
[13:20] {Threei}  it's an unusual times, in that the news from EU is genuine news, not foreseen and discounted by the market
[13:20] {Threei}  market pretty much guesses at this point,
[13:20] {Threei}  and rallies in hope
[13:20] {Threei}  or denial
[13:20] {dino} agree
[13:21] {Threei}  kind of "they just won't let it all fall apart"
[13:21] {Threei}  but the reality is, it is possible
[13:21] {Threei}  simply because sovereign states may not be able to overcome the resistance from within
[13:23] {dino} my gut, the 2t is approved. but not willing to bet on it
[13:23] {Threei}  (US) Fed's Fisher: Benefits of operation twist do not outweigh its costs; doubtful current Fed policy will help hiring
[13:23] {Threei}  - Supportive of the Fed's decision to reinvest MBS proceeds
[13:23] {Threei}  - Claims there are limits on Fed policy until the fiscal policy has been fixed
[13:23] {Threei}  - Reminder: Fisher was among the dissenters at the FOMC meeting
[13:23] {Threei}  really?
[13:23] {Threei}  I dunno...
[13:24] {Threei}  I have hard time seeing how they can push it through
[13:24] {Threei}  unless they manage to mask it under some verey very fancy names long enough to full the oi poloi
[13:24] {Threei}  which these days is not very long
[13:24] {Threei}  couole days and everyone knows what's behind the fancy terms
[13:25] {Threei}  to full = to fool
[13:25] {dino} just a gut feel, lots of outside pressure on them
[13:25] {Threei}  but the elections are decided fro inside :)
[13:25] {Threei}  they are elected politians, not figureheads designated by EU
[13:27] {Threei}  if I were a head of sovereign state up to reelection, and my viters overwhelmkngly said no to bailout, wiould I sign up for it?
[13:27] {dino} no, you and i would not, but politicians will, imo
[13:28] {Threei}  why
[13:28] {Threei}  they have no sense of self-preservation?
[13:28] {Threei}  I think it's the only sense they have, lol
[13:28] {dino} it is not their money, thats why
[13:28] {Threei}  but they'll be thrown out come next election
[13:29] {Threei}  isn't it the only thing that matters to them?
[13:29] {dino} no they will say they saved the system
[13:29] {Threei}  well... good luck to them with that explanation... :)
[13:30] {Threei}  I think german voter will read it as:
[13:30] {Threei}  we saved another state with your money
[13:30] {Threei}  greek voter will read it as:
[13:30] {Threei}  we sold you in slavery
[13:30] {Threei}  and of course french voter will read it as "no pasrty and free sex today"
[13:31] {dino} but, if the system is "saved" for now, the year, then they get re-elected. that is their bet, imo
[13:31] {Threei}  yeah, I can see how they may count on that
[13:31] {Threei}  I just doubt it will work
[13:32] {dino} they believe in the "salvation thru inflation" theory
[13:32] {dino} right or wrong, that is the game being played
[13:33] {Threei}  TZA
[13:33] {Threei}  that's thrid rinse'
[13:41] {nemo} that spy iwm plunge held trendlines, think we might be going higher
[13:46] {dino} dmnd?
[13:46] {Threei}  no fresh news
[13:48] {dino} sm l .03
[13:48] {dino} stop -.29
[13:50] {dino} wtf rinsed.
[13:54] {Threei}  there is a good reason I hate these gap-up+slow-climb days
[13:55] {dino} me too usually, but today is ok
[13:58] {RonS} cause for dmnd pressure:  http://tinyurl.com/3wruxya
[14:03] {dino} thx ron.
[14:03] {dino} gap filled on it
[14:04] {dino} sm l .55
[14:08] {thomcbell} new highs all around - indexes
[14:08] {thomcbell} spy qqq iwm
[14:08] {thomcbell} iyt
[14:09] {nemo} this strength going to .50 makes me thing 121.20 is more than possible today
[14:10] {nemo} that would be the 50 SMA and the Monthly Pivot with Quarterly S2 around 121
[14:13] {RonS} eur, copper launching
[14:13] {dino} out dmnd .29 ave, +.74
[14:13] {dino} too soon
[14:15] {dino} ohhh mannnn (swiper voice)
[14:17] {RonS} copper reversed hard
[14:18] {RonS} testing lod
[14:20] {dino} ugh dmnd
[14:25] {nemo} so far .55 area holding
[14:50] {Threei}  ok... I must try this again
[14:50] {Threei} Short Setup: RIMM  23 break
[14:54] {Threei}  invalidated
[14:55] {Threei}  jf says hello
[14:55] {Threei}  and ends with:
[14:55] {Threei}  ILL BE BACK!!!
[14:55] {Threei}  p s tell nemo not to give up his day job!!!
[14:55] {nemo} hehehehehehe
[14:56] {Threei}  aggressive RIMM
[14:56] {Threei}  a.10 break
[14:58] {dino}   lol
[14:58] {nemo} spy should bounce by .85
[15:05] {nemo} iwm vwap .55, spy support .65
[15:06] {Threei}  covering half RIMM
[15:06] {Threei}  xcan you believe it... I won one
[15:06] {Threei}  1:2
[15:07] {Threei}  1/4 more out
[15:07] {dino} news?
[15:07] {dino} 07 red
[15:07] {Threei}  nope
[15:07] {Threei}  this takes the edge off a little
[15:08] {Threei}  still negative for the day but at least not as strong feeling of "can I get anything right today?"
[15:11] {dino} you'll be bnack tomorrow
[15:11] {dino} back
[15:14] {Threei}  1:3
[15:14] {Threei}  I am out
[15:14] {Threei}  that aggressive entry was the right idea
[15:26] {dino} calling it a day, thx all
[15:27] {Threei}  take care dino, great job today
[15:27] {dino} ;)
[15:28] {Threei}  wow
[15:28] {Threei}  a lot of selling pressure
[15:38] {Threei}  http://www.facebook.com/photo.php?v=139235692842048
[15:40] {Threei}  if you don't see it, video will be posted on trading log, together with SVM update
[15:41] {Threei}  this eod selloff takes plenty of lustre off this rally
[15:42] {Threei}  not all of it, but it has to be alarming for the bulls
[15:50] {Threei}  2.5 dollars SPY selling
[15:51] {Threei}  wow
[15:58] {Threei}  saved by the bell
[15:59] {Threei}  30 min more of this, and whole thing could have been erased, lol
[15:59] {Threei}  thank you all, have a good evening
[15:59] {Threei}  see you tomorrow
[16:00] {larisa} bye :)