Tue Jun 08 2010

Make sure to click on the chart for a larger view, as entry and stop are bunched closely together. This is out typical method of hunting for reversal: drop, slight bounce, consolidation defining mini-range to break and to place a stop (in this case .40 - .50), then breakout of that range. Clean move for 1:4 r/r after the break.

A lot of rinses and invalidations, but not bad day after all. Both shorts and longs worked (except when they rinsed us first). Funny enough, reluctant call for a top at 11:59 coincided with exact SPY top at the time. 13:49 call for reversal on X was more exact and paid off well.

Session Time: Tue Jun 08 00:00:00 2010

[08:17] {magoo} morn

[08:32] {Threei} (EU) EMU Fin Ministers reportedly approve Estonia to adopt euro for Jan 2011

[08:33] {Threei} {Estonia} hmmmm

[08:33] {nemo} so they get in at the bottom of the pyrmid scheme

[08:33] {Les} or are called upon to help their more established neighbours

[08:34] {nemo} bohica estonia

[08:35] {Threei} here is something to ponder about the oputcome:

[08:35] {Threei} (US) FT Alphaville comments on US dollar shortages

[08:35] {Threei} - Notes how foreign banks bought dollar-denominated assets before the credit crisis and this is a problem when US counter-parties will not trust some of these institutions.

[08:35] {Threei} **Reminder from March 2009: According to a BIS report, European banks face a US funding gap of about $2T - Telegraph's Ambrose Evan's Pritchard; The article adds that European banks may have problems rolling over debts; BIS said that European and British banks have relied on an "unstable" source of funding, borrowing in their local currencies to finance long positions in US dollars.

[08:36] {Threei} EUR/CHF Euro hits fresh all-time lows against CHF below 1.3815

[08:36] {nemo} mmmhhhhh....so what do they pay with? Their European companies?

[08:37] {Threei} I don't know.... this is something we haven't heard before unless I missed it

[08:37] {Les} sounds like an excuse to fire up the printing press again

[08:37] {Threei} all I heard was how US has to be sold to finance its debt

[08:37] {nemo} Yeah, to China

[08:37] {Threei} right

[08:38] {Threei} but is Europe has to be sold to US first, then we can resell it to China and be OK :)

[08:38] {Threei} is = if

[08:38] {nemo} good point

[08:38] {nemo} wouldn't that be funny

[08:38] {Threei} US) White House is directing agencies to develop plans to cut at least 5% from their budgets - Washington Post

[08:38] {Threei} - The request follows the Obama Administration's pledge to freeze spending at most agencies for the next 3 years

[08:39] {Threei} UR) Ukraine Central Bank cuts discount rate by 75 bps to 9.50% from 10.25%

[08:39] {Threei} now, that's funny

[08:40] {Les} haha Pelosi promises just after Fitch threatens the UK with a rating downgrade

[08:40] {Threei} by this rate you'd think we are talking about massively rich country

[08:40] {Les} why is it so high?

[08:40] {Threei} beats me

[08:44] {Threei} USD/HUF WSJ "Heard on the Street" suggests the option of devaluing the Forint, which separates Hungary situation from Greece, is not painless

[08:44] {Threei} race to the bottom

[08:46] {Threei} Euro vs US Dollar Portugal Econ Min Da Silva: Difficult to determine if Euro has fallen far enough; Currency stability is important

[08:46] {Threei} - Confident Portugal's austerity measures will achieve desired results

[08:46] {Threei} - Economic recovery in Europe is fragile, but sees positive signs for EU exports

[08:46] {Threei} - EUR/USD parity is not likely

[08:47] {Threei} as if his determination matters

[08:47] {Threei} what, if he decides it has fallen far enough, he waves his magic hand?

[08:47] {Threei} StreetTracks Gold Trust According to GFMS, gold prices may rise to $2,000/oz if debt crisis spreads from Europe to US; Likely to trade in $1,050-1,300 range this year

[08:48] {Threei} now, this kind of things must be criminal:

[08:48] {Threei} BP Pres Obama: Company may have cut some corners on safety of exploded rig; Every person affected by spill must be compensated (36.76, -0.40, -1.08%) (related USO )

[08:48] {Threei} is investigation over?

[08:48] {Threei} they did cut corners or not?

[08:49] {nemo} yes

[08:49] {Threei} if they did, why do we hear about it from president before results are out,

[08:49] {Threei} and if they did not, I say sue him

[08:50] {Threei} this one is funny:

[08:50] {Threei} USD/CNY Reportedly US Senate to hold talks on China's yuan policy with Treasury Sec Geithner on Thursday

[08:51] {Threei} Ukraine and Argentina signed peace agreement between Belarus and Mongolia

[08:52] {RonS} gm all...what?

[08:52] {Threei} lol

[08:52] {Threei} joke about that line on China's yuan policy

[09:02] {Threei} KERX Reports Final Results of a Randomized, Double-Blind, Placebo-Controlled Phase 2 Study of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Colorectal Cancer (4.22, 0.00, 0.00%)

[09:10] {dino} gm all

[09:10] {Threei} dino :)

[09:14] {Threei} ABAT Enters US Electric Vehicles Market

[09:15] {Threei} - Received an order to sell electric vehicles valued at approximately $1.1 million to US-based All-Power America. The first batch of electric motorcycles was shipped to All-Power America on June 6, 2010. This is the first entry into the US market for ABAT's electric vehicles since the Company acquired ownership of Wuxi ZQ in May 2009.

[09:15] {Threei} - The Company signed the sales contract with All-Power America in May and plans to deliver approximately 2,000 scooters by the end of June. All-Power America specializes in manufacturing power tools and power equipment, with operations in Shanghai, China and California, USA. The order from All-Power America demonstrates the Company's continuing efforts to expand its international customer portfolio, in this case to include the North America market.

[09:20] {Threei} Google Inc OnStar, Google Partner to Expand Turn-by-Turn Navigation

[09:20] {Threei} - OnStar and Google have reached an agreement that will let OnStar users search for and identify destinations using Google Maps and send those destinations to the Turn-by-Turn Navigation Service in their vehicles.

[09:20] {Threei} - For the 2011 model year, OnStar Directions and Connections service is standard on all OnStar-equipped, GM retail vehicles

[09:22] {larisa} gm :)

[09:22] {Threei} larisa :)

[09:23] {shorty} morning

[09:23] {larisa} :)

[09:23] {nemo} hi lari :)

[09:23] {Threei} shorty :)

[09:23] {larisa} shorty, nemo :)

[09:24] {shorty} :)

[09:26] {lasertrev} good morning

[09:26] {jfjf64} mornin traders

[09:26] {Threei} trev, jf :)

[09:33] {jfjf64} bp

[09:33] {Threei} watching BP for short

[09:34] {nemo} mmmhhhh....little rally to sell into, or....

[09:34] {Threei} to me, yes

[09:34] {Threei} ugh

[09:34] {Threei} how the heck do you catch this

[09:34] {nemo} sudden bp drop

[09:35] {nemo} rimm shot

[09:37] {Threei} Short Setup: BP .60 break

[09:37] {Threei} half lot

[09:37] {Threei} if stays under .80

[09:39] {Threei} 1:1

[09:39] {jfjf64} yeah baby

[09:40] {shorty} Not a good day to start. I hit buy instead of short. Not feeling good today, I might stop for the day.

[09:40] {nemo} been there, done that, got the T-shirt

[09:40] {shorty} lol

[09:40] {Threei} watching LVS for long on steep drop

[09:41] {Threei} from under .20 most likely

[09:41] {jfjf64} never happend to me

[09:41] {jfjf64} lol

[09:41] {nemo} pox on your house jf

[09:41] {jfjf64} deep breath shorty

[09:41] {Threei} BP 1:2

[09:41] {jfjf64} sig on ya house nemo

[09:41] {shorty} thanks jfjf64, man your name is a bitc* to type.

[09:42] {Threei} gosh shorty... no one ever calls him other than jf

[09:42] {jfjf64} jf will wk

[09:42] {RonS} amzn down 2%, below the 200 day

[09:42] {Threei} what are you, out to hurt yourself?

[09:42] {shorty} lol

[09:42] {Threei} man is too lazy to type wovels in any word he types

[09:43] {nemo} ?

[09:43] {Threei} work = wk in his vocabilary

[09:43] {nemo} "wovels"

[09:43] {nemo} ?

[09:43] {nemo} =novels?

[09:43] {Threei} vowel

[09:43] {Threei} jeez

[09:44] {jfjf64} fcx

[09:44] {Threei} Short Setup: LVS .30 break half lot

[09:44] {Threei} stop above .40

[09:45] {Threei} just a scalp most likely

[09:46] {shorty} in

[09:46] {Threei} look to cover under .20 and start seeking reversal

[09:46] {Threei} 1:1

[09:46] {Threei} out .15

[09:46] {shorty} wow, 1 sec to early!

[09:47] {Threei} that's OK

[09:47] {Threei} bounce is so fast, you can easily get caught

[09:47] {shorty} true

[09:48] {Threei} ok, want fast dive to under .10 and entry around 23 - 23.05

[09:48] {shorty} Will watch

[09:50] {nemo} Qs testing support

[09:50] {jfjf64} get ready lvs

[09:51] {Threei} BP too

[09:51] {Threei} .10 break

[09:51] {Threei} long

[09:51] {shorty} BP break?

[09:51] {Threei} invalidated

[09:52] {nemo} cvs short break .05?

[09:52] {Threei} LVS, getting ready

[09:52] {nemo} opened 31

[09:52] {Threei} .95 long

[09:52] {Threei} half lot

[09:52] {Threei} stop under .85

[09:53] {Threei} 1:1

[09:53] {Threei} (US) Preview: June IBP/TIPP Economic Optimism due out at 10:00ET

[09:53] {Threei} **consensus expectation: 49e v 48.7 prior

[09:55] {shorty} out LVS .01, I should have taken the 1:! earlier.

[09:56] {shorty} or waited

[09:56] {Threei} when in doubt, partial out

[09:56] {shorty} got it.

[09:56] {Threei} CVS... probably nemo

[09:59] {Threei} or .10 long

[09:59] {Threei} market is getting ready to recover some it seems

[09:59] {Threei} Long Setup: LVS .90 break

[10:00] {Threei} if holding .85

[10:00] {Threei} *(US) JUNE IBD/TIPP ECONOMIC OPTIMISM: 46.2 V 49E

[10:01] {Threei} no go

[10:02] {dino} start watching 5s and 0s for strikes imo, exp 6/18

[10:02] {Threei} market does bounce

[10:03] {shorty} out LVS .01

[10:03] {Threei} CVS 1:1

[10:03] {dino} whr sm l .49

[10:03] {nemo} I was short, so stopped

[10:03] {Threei} it never triggered on shorts aside, and did trigger long

[10:03] {nemo} yeah, it triggered

[10:04] {Threei} ??

[10:04] {nemo} I got it for .04

[10:04] {nemo} after seeing .04 print

[10:04] {Threei} I was thinking 31

[10:05] {Threei} but in any casd, wny not reverse at .10?

[10:05] {dino} ctrp sm l .50

[10:05] {nemo} [09:51] {nemo} cvs short break .05?

[10:05] {nemo} took my loss

[10:05] {Threei} yeah, I see now, I took 31 from your next line

[10:06] {Threei} and 31 is so much more natural level for significant support

[10:06] {shorty} well....LVS took off

[10:07] {jfjf64} market makers new where my stop was

[10:07] {jfjf64} lol

[10:08] {shorty} I fell too sick, I will see you guys tomorrow.

[10:08] {Threei} Short Setup: X .70 break

[10:08] {Threei} half lot

[10:08] {nemo} already gone

[10:08] {larisa} get better shorty

[10:09] {jfjf64} ty nemo

[10:09] {Threei} take care shorty

[10:09] {nemo} for what jf

[10:09] {jfjf64} 4 mention ing x gone

[10:10] {jfjf64} sig 4 ya

[10:10] {nemo} o.k. we're getting into the volatility where stops just getting whacked

[10:10] {dino} ctsh sm l .15

[10:10] {shorty} Thanks larisa...take care Threei. :)

[10:10] {jfjf64} 3i needs to come up with game plan

[10:11] {dino} cya shorty

[10:11] {jfjf64} deep breath shorty

[10:12] {Threei} Long Setup: LVS .90 break

[10:12] {Threei} stop under .80

[10:12] {Threei} and this one if works is not a scalp

[10:12] {nemo} in

[10:14] {Threei} this is a play for a solid double bottom, with first partial around 23.05

[10:14] {dino} whr stopped -.35

[10:15] {Threei} come on market, little help

[10:15] {Threei} LVS is totally ready

[10:15] {Threei} just need market at least not to get in the way

[10:16] {nemo} out market not holding

[10:17] {jfjf64} comon baby

[10:17] {Threei} DO US Coast Guard looking into report of additonal leak in Gulf; no knowledge as of yet of any leak (56.87, -2.34, -3.95%) (related BP CAM SPN CLH HAL )

[10:18] {jfjf64} comon market

[10:18] {Threei} see how willing LVS is?

[10:18] {jfjf64} we good

[10:18] {Threei} well

[10:18] {Threei} still needs help

[10:18] {jfjf64} holdin

[10:19] {Threei} oh come on

[10:20] {jfjf64} buyyyyyyyyyyyyyyyyyyyyyyy

[10:20] {nemo} market dropping, I'd raise your stop

[10:20] {jfjf64} never

[10:20] {jfjf64} lol

[10:20] {nemo} it's fighting, but it get's near .80 good luck

[10:21] {jfjf64} nemo dont be a hater

[10:21] {jfjf64} lol

[10:21] {nemo} I'm not

[10:21] {jfjf64} i know that

[10:22] {jfjf64} grrrrrrrrrrr

[10:22] {Threei} oh well

[10:23] {nemo} see

[10:23] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrr

[10:23] {Threei} oh come on nemo

[10:23] {Threei} that was perfect relastive strength play

[10:23] {jfjf64} ty nemo

[10:23] {nemo} it fought so hard, and built that level at .84, dropped through 80

[10:23] {jfjf64} that was goodd stuff

[10:23] {dino} whr sm l .51

[10:23] {Threei} full room of prophets

[10:23] {nemo} I agree Vad, but watching the tape after

[10:23] {nemo} no

[10:23] {Threei} if you don't take this kind of p[lays, what do you take

[10:24] {nemo} no prophet

[10:24] {nemo} I did take it

[10:24] {nemo} I just decided earlier on my pessimistic view of the tape action...broken clock moment

[10:24] {larisa} solid downtrend from the top this morning at 9:36. did not break it.. almost did :)

[10:24] {Threei} and if you want to avoid whipsaw losses, stop trading

[10:24] {Les} awiav?

[10:25] {nemo} no les

[10:25] {Les} ah it's one of those days is it?

[10:25] {Threei} not really, in the black

[10:25] {Les} I was in the red. Barolo, from italy

[10:25] {larisa} RIG able to bounce or dead dead dead :) ?

[10:25] {jfjf64} give nemo a dress vad

[10:25] {nemo} jf, just reading the tape

[10:26] {jfjf64} lol

[10:26] {Threei} IMO, dead larisa

[10:26] {jfjf64} dress in one hand sig in other

[10:26] {dino} jumping all over

[10:26] {nemo} dcc jf

[10:26] {magoo} [10:25] {larisa} RIG able to bounce or dead dead dead :) ?

[10:26] {magoo} [10:25] {

[10:26] {magoo} funny, i always say that

[10:27] {jfjf64} dcc

[10:27] {nemo} you on mibbet?

[10:27] {jfjf64} y

[10:27] {nemo} oh, have no idea

[10:27] {jfjf64} y

[10:27] {nemo} cvs short .90?

[10:27] {jfjf64} no idea

[10:28] {nemo} on lvs, when the market went green, and it didn't move, I had that tightening sphincter feeling

[10:28] {nemo} well not short cvs

[10:28] {jfjf64} all good

[10:29] {jfjf64} +22cents day

[10:30] {jfjf64} 3i will figure this choppy out

[10:30] {jfjf64} look lvs

[10:30] {Les} apc .50 break?

[10:31] {Threei} I wouldn't

[10:31] {Threei} a bit too volatile

[10:31] {Les} ok

[10:31] {jfjf64} im gonna go water plants

[10:31] {Les} any read DO vad?

[10:31] {Threei} market reverses, smackdown will be like you never seen before

[10:31] {Les} 56 b/d?

[10:32] {Threei} most likely

[10:32] {Threei} there is a "news expectation" on it

[10:32] {Les} what is it

[10:32] {Threei} so depending on which way it goes...

[10:32] {Les} expectation. sorry

[10:32] {Threei} 10:17] {Alert} Threei DO US Coast Guard looking into report of additonal leak in Gulf; no knowledge as of yet of any leak (56.87, -2.34, -3.95%) (related BP CAM SPN CLH HAL )

[10:34] {Les} s DO .99

[10:35] {Les} cover half .85

[10:36] {Threei} (US) US Senate Democrats release bill to renew unemployment benefits, adjust medicare doctor payments

[10:36] {nemo} what was your stop

[10:36] {Les} .35

[10:36] {Les} stop asking me embarrassing questions like that ya mug

[10:37] {nemo} when you said half out .85 I was confuse

[10:37] {nemo} d

[10:37] {magoo} wow RIG hammered again

[10:38] {magoo} 1 day theres gonna be ferocious short covering rally in this sector

[10:39] {magoo} but from what level is the ?

[10:39] {Threei} we are not there yet, I believe

[10:39] {Les} 2nd half out flat gotta grab my boy at the train station

[10:39] {Threei} look at SPY daily

[10:39] {Threei} feels like breakdown of 105 first,

[10:39] {nemo} on the edge

[10:40] {Threei} to shake stops out hard

[10:40] {Threei} I'd assume there is a whole lot of them under that level

[10:42] {Threei} - Bill to place a tax on fund managers profits at 33%; extends state medicaid funding for 6 months; will tax investments held for 7 years or more at 31%; provides oil producer tax at $0.41/bbl ($0.34 in the House version)

[10:42] {magoo} yea, and as mkt keeps losing these support levels, stops keep getting triggerred

[10:43] {Threei} will tax investments held for 7 years or more at 31%

[10:43] {Threei} ??

[10:43] {Threei} what are they saying, do not buy and hold?

[10:43] {dino} pretty much

[10:43] {nemo} they want the higher tax rate

[10:44] {Threei} BP's bottomless

[10:44] {magoo} its like the 3 bears tale, do not high frequency trade, do not hold 7 years, just buy and hold "just right" amount of time

[10:44] {patience} good one magoo

[10:46] {dino} 1040 big area s/p

[10:47] {Threei} RIG...

[10:47] {Threei} maybe bounce time finally

[10:48] {Threei} yeah

[10:48] {Threei} exact entries are still next to impossble to catch

[10:49] {Threei} general read is right, precise trading is a serious challenge

[10:51] {Les} bp l .42 sm

[10:52] {Threei} Long Setup: WFC .85 break

[10:55] {dino} ima sm l .50

[10:56] {Les} stupid bug in level 2 again. sold BP for + .49 cause buy order stuck at .91. should be +.10

[10:57] {Threei} 1:1 WFC

[10:59] {Les} +.10 wfc ty

[11:00] {Threei} watching FCX

[11:06] {Threei} no clean entry

[11:06] {Threei} if pulls back to about .20 - .25, will be inetersted

[11:07] {Threei} prepare half lot

[11:07] {dino} upgraded this am to 80 target

[11:07] {Threei} .15 support for stop placement

[11:08] {Threei} market strength for entry

[11:08] {Threei} invalidated

[11:08] {Threei} not off the radar

[11:10] {Threei} EUR/CHF *MOVES SHARLPY HIGHER (related EUR/USD )

[11:10] {Les} sweeeeeeeeeet

[11:10] {Threei} .10 break was in mind for alert, and happened faster than I could think it, let alone type

[11:11] {nemo} bounced right on the trend line

[11:11] {Les} yeh 50 ma was just below 10

[11:11] {Les} .10

[11:11] {nemo} that too

[11:11] {Les} bite m

[11:11] {Les} e

[11:11] {Threei} Note: The EUR/CHF has long been rumored as a possible intervention pair for the SNB

[11:13] {Threei} US) White House Budget head: Measures to increase jobs must come before any measures are taken to handle the deficit

[11:13] {Threei} read: spend spend spend

[11:15] {Les} sadly, Europe no longer agrees

[11:16] {dino} they need to get out of businesses way if they want jobs

[11:17] {Threei} I think bounce starts guys

[11:18] {magoo} aapl bouncing, correct time od day

[11:18] {dino} dcth sm l .50

[11:18] {jfjf64} miss anythin

[11:18] {Threei} one last little pullback, then march up

[11:18] {Threei} IMO

[11:18] {Threei} LVS on watch

[11:19] {Threei} for pullback entry or .50 break

[11:19] {Threei} if holding .40, then .50 break entry

[11:19] {Les} fcx grrrr

[11:20] {jfjf64} in

[11:20] {Threei} well, it gave second chance entry

[11:20] {Les} half out .60

[11:20] {Threei} but seriously, I couldn't call it

[11:20] {Threei} LVS over 1:1

[11:20] {Threei} half out

[11:21] {Threei} 1:2

[11:21] {Les} all out .69 nice one

[11:21] {jfjf64} thats amore

[11:24] {Threei} 1:3

[11:24] {Threei} 1/4 more

[11:24] {Threei} almost touched 1:4 but I was a bit slow

[11:24] {Threei} 1:4

[11:24] {Threei} out in full +.40

[11:24] {Threei} whew

[11:25] {Threei} finally nailed real one

[11:25] {Les} :(

[11:25] {jfjf64} nice

[11:25] {Threei} [11:17] {Threei} I think bounce starts guys

[11:25] {Les} someone has to put in crying smiley for me

[11:25] {Threei} was it perfect sense of change or what

[11:26] {jfjf64} nice chart

[11:26] {Threei} effortless trade

[11:26] {Threei} just as I like them

[11:27] {jfjf64} stop patten self on back next

[11:28] {Threei} sigh

[11:28] {jfjf64} lol

[11:29] {jfjf64} .80 lot support here yest

[11:29] {jfjf64} today

[11:29] {jfjf64} yes no

[11:33] {Les} l rig .01 sm

[11:33] {larisa} if somebody likes to create custom sounds for trading/chart/room alerts : http://www2.research.att.com/~ttsweb/tts/demo.php. Like ; "Get out, Idiot!" when your stop hit, that i use :)

[11:34] {Les} out rig +.24

[11:34] {Les} lol larisa I would like to put a sound to my alerts. sounds good.

[11:34] {larisa} I use it on my charts all over. very helpful

[11:36] {Les} i have no idea though how to link alerts with laser.... Vad?

[11:36] {Les} your camera shutter. how did you do it?

[11:37] {Threei} rifght slick on level 2

[11:37] {Threei} tab Sound Alerts

[11:38] {Threei} highlight Trade Order Complete

[11:38] {Threei} click Browse

[11:38] {Les} yep

[11:38] {Threei} navogate to that click file

[11:38] {Threei} done

[11:38] {Les} it has opened my document

[11:38] {Les} documents

[11:38] {Les} where are sound files in windows?

[11:38] {Threei} find where you put that sound file

[11:39] {Threei} it's not default sound

[11:39] {Threei} you need to have it

[11:39] {Threei} if you don't nemo can e-mail it to you

[11:39] {Les} please

[11:39] {Les} or can I download this AT&T file to use that?

[11:39] {Les} larisa?

[11:39] {larisa} of course, why would I give the link ? :)

[11:40] {Threei} whatever you want to use for that purpose

[11:40] {Les} ok. thanking you both

[11:40] {larisa} with laser charts i am not sure if you can use alerts, never tried that

[11:41] {Threei} this is order execution alert

[11:41] {dino} dcth out .05, +.55

[11:42] {Threei} nice page larisa

[11:42] {larisa} now you can record in woman voice all you want to hear :)

[11:42] {Threei} ummm

[11:43] {dino} lol

[11:43] {Les} riiiiiiight. call me a dummy but I just worked it out

[11:44] {Threei} I'll make Crystal call you a dummy, Les

[11:44] {Les} ouch!

[11:44] {Les} I was expecting that from nemo, not you

[11:44] {Threei} he is obviously away

[11:45] {Threei} I have to maintain the tone

[11:45] {nemo} ?

[11:45] {Threei} oh, he is back

[11:45] {Threei} I'd expect him to react on "11:39] {Threei} if you don't nemo can e-mail it to you"

[11:46] {nemo} I waited

[11:46] {nemo} faz forming IH&S...but at lunchtime

[11:47] {Les} http://192.20.225.36/tts/speech/dac94e047b11c2c0e8a949304ad2db32.wav

[11:48] {Les} hold it. is trade order complete for entering or exiting position?

[11:48] {Les} cause "you kicked ass" on entering position sounds pretty lame

[11:49] {larisa} lol

[11:50] {Threei} order execution

[11:52] {Les} ok. this is more appropriate then:

[11:52] {Les} http://192.20.225.36/tts/speech/73f27ef64cc0fb26b5a11cf3df848afb.wav

[11:52] {Threei} EUR/USD Moves above 1.2000 (related EUR/CHF EUR/JPY )

[11:53] {Threei} UK) UK Fin Min Osborne: Will assume the spending model adopted by Canada from the 1990s

[11:53] {Threei} Canada is not a model for the world

[11:53] {Threei} not = now

[11:53] {Les} what did canada do? spike the nation's water?

[11:53] {Threei} implemented brutal spending cuts

[11:54] {Threei} killed a lot of social programs, entitlements etc,

[11:54] {Threei} implemented some new taxes

[11:54] {Threei} sales taxes

[11:54] {Threei} and in a course of a decade turned things around

[11:54] {Les} and % unemployed fell?

[11:55] {Les} after the economy turned?

[11:55] {Threei} from huge deficit caused by generous socialistic spending to quite robust and healthy economy with steady surpluses

[11:55] {Les} cool

[11:55] {Threei} surpluses ended with this crisis of course

[11:55] {Threei} but still

[11:55] {Les} sure. same in Oz

[11:56] {Threei} no bank bailouts were necessary

[11:56] {dino} reaganomics is the way

[11:56] {nemo} sans the deficits

[11:56] {dino} supply side

[11:59] {Threei} reversal time - IF today is anything like yesterday

[11:59] {nemo} spy might try for the 200 at 106.55

[12:04] {dino} out ctsh .55, +.40

[12:09] {nemo} rimm bounce .10 area?

[12:11] {Les} s lvs .15 half

[12:14] {nemo} is vad here?

[12:14] {nemo} hah, bounced at .10

[12:15] {nemo} where is Vad?

[12:15] {jfjf64} think he hit the bottle

[12:15] {Les} made his $ and left us for dead

[12:15] {nemo} good idea, thanks jf...oh, if RIMM loses trend, could be a nice short to about .85

[12:16] {jfjf64} did ya hv .10 bounce nemo

[12:17] {Les} rig looks ready to fall. no position

[12:17] {nemo} rimm dropped like a stone

[12:17] {jfjf64} yup

[12:18] {Les} wow

[12:18] {Les} smell the fear

[12:18] {jfjf64} did ya hv short nemo

[12:18] {nemo} too fast on me

[12:18] {jfjf64} ya readin well

[12:18] {nemo} have my moments

[12:18] {jfjf64} was waitin for setup didnt give it

[12:19] {nemo} break of .10 was it, but just dropped

[12:24] {nemo} X

[12:25] {nemo} ehhh...pivot at 41.00

[12:25] {nemo} probably not good

[12:25] {Les} cover LVS .00 +.15

[12:25] {nemo} so...is 3i alive?

[12:25] {Threei} why?

[12:25] {nemo} what why?

[12:26] {Threei} why do you ask?

[12:26] {nemo} because I did ask and no reply

[12:27] {Threei} X

[12:27] {Threei} must be short around here

[12:27] {nemo} too funny

[12:27] {nemo} [12:24] {nemo} X

[12:28] {Threei} I saw that

[12:28] {Threei} and looked at it

[12:28] {nemo} I figured

[12:28] {nemo} or, is that a quasi-bull-flag

[12:28] {Threei} I think so

[12:29] {Les} .15 aggressive entry

[12:29] {Threei} bear flag reather

[12:29] {jfjf64} quasi bulll flag ahhhhhhhhhhhh

[12:29] {Les} ah no. would have been stopped out

[12:34] {dino} last try sm l ima .00

[12:35] {dino} that suckers is crazy

[12:35] {nemo} yep

[12:36] {Threei} Short Setup: X .30 break

[12:36] {Threei} if stays below .40

[12:41] {dino} out ima .45, +.45

[12:41] {Threei} wtg

[12:41] {dino} ty

[12:41] {dino} .50 wall

[12:41] {dino} lets see a db

[12:42] {Threei} no go

[12:45] {Threei} shakeout

[12:46] {nemo} bastids

[12:47] {Threei} crap

[12:47] {Threei} lol

[12:49] {RonS} x shorted .36 covered .19 thxs

[12:49] {Threei} good thinking

[12:49] {dino} ima sm l .00

[12:51] {Threei} Federal building in Atlanta evacuated; possible grenade found - CNN

[12:53] {Threei} once again X?

[12:53] {Threei} .35 break short

[12:58] {Les} watching GDX and a GG short .10

[13:00] {Threei} shrug

[13:01] {Threei} no shorting

[13:01] {Threei} I give up

[13:01] {Threei} this market goes up from here and till 2016

[13:01] {nemo} can't

[13:01] {Threei} sure can

[13:01] {nemo} nope

[13:01] {Threei} earth will disappear in 2012

[13:01] {nemo} right

[13:01] {Threei} yet market will still go up

[13:01] {nemo} ?

[13:01] {nemo} What?

[13:02] {nemo} on the St. Peter's Gate Exchange?

[13:02] {Threei} *(US) TREASURY'S $36B 3-YEAR NOTES DRAWS 1.220%; BID-TO-COVER RATIO:3.23 V 3.27 PRIOR AND 30.3 AVG OVER THE LAST 10 AUCTIONS

[13:02] {RonS} ...the computers will keep on trading...

[13:02] {Threei} right

[13:02] {nemo} ahhh

[13:02] {Threei} they are water-resistant

[13:02] {Threei} fireproof

[13:02] {nemo} that was my next question

[13:03] {Threei} indirect bidders take 46.7% of competitive bids; direct bidders take 16.3% of competitive bids, dealers take 37%.

[13:03] {Threei} - 58.71% allotted at high.

[13:03] {Threei} - Median 1.189%; Low 1.098%.

[13:03] {RonS} ...and run on nuclear power

[13:03] {nemo} that's a good indirect bidder take

[13:03] {Threei} so, X .50 break long?

[13:03] {Threei} I hate it

[13:03] {Threei} no entries of this kind worked over last week or so

[13:03] {RonS} nue is a better long...

[13:04] {Les} crapped missed GG entry

[13:04] {Les} crap too

[13:05] {Threei} X short works now

[13:05] {Threei} lol

[13:05] {Threei} it's like you have to execute each trade on second time it sets up

[13:05] {nemo} siting right on trend line

[13:06] {Threei} look sat this 1:3

[13:06] {nemo} yeah

[13:06] {Threei} I mean 1:4

[13:07] {Threei} I mean 1:5

[13:08] {Les} the sentiment for a short is there

[13:08] {Threei} yeah

[13:08] {Les} the market playing hard ball to make it work though

[13:08] {Threei} the only problem is...

[13:08] {nemo} ?

[13:09] {Les} bounce zone x here?

[13:09] {nemo} yeah

[13:09] {Threei} one more dive, holding the low, then bounce, IMO

[13:09] {Threei} here it is

[13:09] {Threei} .10 break now

[13:10] {nemo} or short below

[13:10] {nemo} 200 at .85

[13:10] {Threei} invalidated

[13:11] {larisa} X is hard stock to trade. i was backtesting system on several hundred stocks. X gives you more stops than almost any other when it is not in strong trend.

[13:11] {nemo} drop below .90 then recross

[13:11] {nemo} NOW she tells us

[13:11] {Threei} lol

06[13:11] * nemo slaps larisa around a bit with a large Ostrich plume

[13:11] {larisa} when it is trending, it is GOOD :)

[13:12] {nemo} I swear, she just likes to watch us suffer

[13:12] {Les} wow backtesting...

[13:12] {Les} some sophisticated stuff

[13:13] {Threei} can't believe that last X short got shaken out by 2 cents

[13:13] {nemo} sure you can

[13:14] {nemo} spy probably test .60

[13:15] {nemo} fcx short .00 break

[13:15] {nemo} stay under .10?

[13:17] {Threei} second time

[13:17] {Threei} let the first one to go through the shakeout

[13:17] {nemo} right, we'll wait

[13:17] {Les} or at the top

[13:17] {nemo} ROTFL

[13:17] {nemo} ROTFL

[13:19] {nemo} Reminds me of Mel Brooks "Wait for the shake"

[13:19] {nemo} what movie Les?

[13:19] {Les} hmmm

[13:19] {nemo} the quote

[13:19] {Les} not that star wars parody?

[13:19] {nemo} no

[13:19] {nemo} that was funny too

[13:19] {Les} dunno mel brooks very well

[13:19] {nemo} History of the World-Part 1

[13:21] {RonS} ...read about some acot who emigrated from yugoslavia. Went to Blockbuster to find part 2

[13:21] {nemo} acot?

[13:21] {RonS} actor

[13:22] {nemo} oh...wasn't a Part 2

[13:22] {RonS} ...the point. he felt like a fool...especially after talking to the idiots at BB

[13:23] {nemo} yep, fcx gonna' do one of those sudden drops

[13:24] {nemo} mofo!

[13:24] {Les} s GG .99

[13:24] {Threei} if X hits full dollar from entry, I will eat my keyboard and cut my wrists with rotten banana

[13:24] {RonS} rotfl

[13:24] {Les} you promise to record that for us?

[13:24] {Threei} only sound part

[13:25] {Les} cover GG .90 +.09

[13:25] {RonS} bingo nemo

[13:25] {nemo} yeah....I was tempted at .10, I think the algo's are having fun today

[13:25] {Les} damn this day is complete opposite of yesterday

[13:26] {Les} still working on avoiding crappy days like yesterday

[13:26] {Les} actually not true. 1st hour was fine

[13:26] {RonS} aapl and gs are some sick pups

[13:27] {Les} GS looking like a rocket launch if market rallies

[13:28] {RonS} fcx could be getting the 3i setup

[13:33] {dino} markets dieing

[13:35] {dino} ima stopped -.34

[13:36] {Threei} here is a dollar on X

[13:36] {Threei} where is the banana

[13:39] {Threei} look at this:

[13:39] {Threei} [11:59] {Threei} reversal time - IF today is anything like yesterday

[13:39] {nemo} yep

[13:39] {Threei} look at the market top time for today

[13:39] {Threei} frggin' 11:59, believe it or not

[13:40] {larisa} you would be a Hero, if not for IF part :)

[13:40] {Threei} no kidding

[13:40] {larisa} with IF you are just good, not best :)

[13:41] {Threei} oh, just say what you really think: "you are uselss!"

[13:41] {larisa} call the bottom without IF :)

[13:49] {Threei} X, watching for long

[13:49] {Threei} .50 break

[13:49] {Threei} if holding .40 for scalpers, .35 for day traders

[13:55] {Threei} come on market, bounce time

[13:55] {Threei} break 105 and squeeze

[13:57] {RonS} rig is holding

[13:58] {Threei} good boy

[13:58] {Threei} squeeze them now

[13:59] {Threei} 1:1

[14:00] {Threei} larisa, am I a hero now?

[14:01] {Les} nice one. took my scalp at .72

[14:01] {larisa} :)

[14:02] {dino} ima sm l .50

[14:02] {Threei} what's with chesire cat smile

[14:10] {Threei} watching for second entry near .50

[14:10] {nemo} X?

[14:10] {Threei} yes

[14:11] {RonS} aapl lod

[14:11] {Threei} that's my fault ron

[14:12] {Threei} I decisively refused to buy iPad, iPod and iPhone

[14:15] {Threei} can't tell X is short on .50 break or long on .60

[14:15] {Threei} really a toss-up

[14:18] {Threei} long was it

[14:19] {Threei} not really regretting, it was a total 50/50

[14:19] {dino} dcth sm l .50

[14:24] {Threei} larisa

[14:25] {Threei} don't give me that smile

[14:25] {Threei} you found a lot of words to let me know I was no hero

[14:25] {Threei} how about now?/ :)

[14:25] {larisa} why? you called bottom?

[14:26] {Threei} sigh

[14:26] {Threei} whatever

[14:26] {Threei} oh, and btw, X dropped 99 cents from entry

[14:26] {Threei} bottomed at .35

[14:26] {Threei} so not eating keyboard, not cutting my wrists with banana

[14:35] {larisa} http://cdn.trendhunter.com/phpthumbnails/46349_1_468.jpeg

[14:36] {Les} wow miners dropping like a ton of bricks

[14:36] {Les} s gg .68

[14:37] {Les} cover .50

[14:37] {Les} the ultimate killing keyboard

[14:38] {larisa} in case X drops :)

[14:40] {Les} does it come in white chocolate?

[14:41] {larisa} http://gadgets.boingboing.net/gimages/choco-thumb-520x320.jpg

[14:41] {larisa} but white chocolate is not good for you

[14:42] {Les} ?

[14:42] {Les} but its yum

[14:42] {larisa} but it is not real chocolate :)

[14:42] {Les} like white wine. none of the health benefits of red but just as good

[14:42] {Les} nyah nyah nyah its still good

[14:43] {larisa} lol

[14:47] {Threei} kind of 51:49,

[14:47] {Threei} X 41 break for a scalkp

[14:52] {Threei} needless to say

[14:52] {Les} took you up on the short side of that. .89

[14:52] {Threei} why not

[14:52] {Threei} that's how most of them worked today

[14:53] {Les} lets see if we run down to the bottom in a screaming heap for close

[14:54] {larisa} no, will be seriously up :)

[14:55] {Les} at least when rally begins it is easily recognised

[14:55] {Les} maybe

[14:55] {larisa} IF it is not like yesterday :)

[14:56] {Threei} ummm

[14:57] {Threei} ok... not slapping girls

[14:57] {larisa} ty

06[14:57] * nemo slaps larisa around a bit with a large trout

[14:57] {Threei} even though some deserve it big time {G}

[14:57] {larisa} sigh

[14:59] {Les} cover x +.30

[15:09] {dino} gj

[15:09] {Les} ty sir. have you anything for a rally into close?

[15:11] {Threei} why do you think it's a rally?

[15:11] {Les} be prepared vad, be prepared

[15:14] {Threei} well

[15:14] {Threei} to use a popular phrase,

[15:14] {Threei} IF today is anything like yesterday

[15:15] {Threei} it's rather selloff into close

[15:15] {dino} dk les, not sure we will rally

06[15:15] * Threei squints at larisa

[15:15] {RonS} aapl lod

[15:15] {Les} then how about wfc .20 b/d?

[15:16] {nemo} lvs strong

[15:17] {Les} s wfc .19

[15:22] {dino} hmmmm

[15:24] {Les} stopped .31. bear trap, how nice

[15:24] {Les} c u's tomorrow. gonna go for a walk while there is still light

[15:25] {dino} cya les

[15:27] {Threei} take care Les

[15:27] {nemo} lvs going for highs

[15:30] {Threei} everything does

[15:39] {dino} ima .00 wall

[15:40] {dino} out .95, +.45

[15:41] {dino} dcth should be spelled death

[15:41] {dino} thing won't move\

[15:44] {nemo} so much for ima at 28

[15:44] {dino} figures

[15:45] {dino} dcth to .65

[15:48] {dino} so tomoorow either flat or down 200-300 pattern

[15:49] {dino} wow spelled that wrong

[15:52] {Threei} myu bet would be big down, dino

[15:53] {Threei} look at daily

[15:53] {Threei} bounce from these levels is soooo obvious

[15:53] {Threei} gotta greak down through the support, kill everyone in sight,

[15:53] {Threei} and THEN bounce

[15:54] {Threei} we are dancing right above the level reached during flash crash

[15:55] {larisa} what?

[15:55] {dino} yes, i see, its either successful retest or continuation down. gaps filled thats the only thing going, except gaps above

[15:59] {Threei} thank you all, have a good evening

[15:59] {Threei} see you tomorrow

[15:59] {larisa} bye all :)

[15:59] {dino} out dcth .70, +.20

[16:01] {dino} gn all

Jun 07 2010

Chart wise, this is double bottom play (area market in yellow). However, finding an entry was a challenge, as confirmation level would give us too wide stop. For entry we found a little "setup within a setup" - look at out entry point and stop level closer and you will see that it's a little setup by itself - now zoom out again and look at it from the point of view of a bigger chart formation, that same double bottom.
Overall, that was a day of invalidation - one setup after another would invalidate before triggering. We got a few nice trades but the day left a feeling if "could have been much more."

Session Time: Mon Jun 07 00:00:00 2010

[04:48] {KSystems} morning

[08:32] {nemo} When Black Monday comes....(sung to the tune of Steely Dan's "When Black Friday Comes")

[08:33] {Threei} IMMU Reports Updated Results of Targeted Therapy for Advanced Pancreatic Cancer (3.45, 0.00, 0.00%)

[08:33] {Threei} black monday?

[08:33] {Threei} I see futs up

[08:33] {patience} good morning guys

[08:33] {Les} who is steely dan?

[08:33] {Threei} patience :)

[08:33] {nemo} I can hope can't I?

[08:34] {Threei} les :)

[08:34] {Les} afternoon

[08:34] {nemo} Oh, Les...you don't know Steely Dan?

[08:35] {Les} sounds like a brand of custard

[08:35] {nemo} Excellent music

[08:37] {Threei} Euro vs US Dollar (NV) Netherlands Fin Min De Jager: Euro fx rate around historical average; not concerned over long-term EMU stability

[08:40] {Threei} - Confident over Euro zone sustainability

[08:50] {Threei} (IT) Italy Debt Agency (Tesoro) To increase 2010 debt issuance plans to finance its participation in Greek aid package

[08:50] {Threei} - To issue up between 240-250B bonds in 2010; Have issued 102.7B ytd

[08:50] {Threei} - Conditions not right for new linker bond issue

[08:52] {Les} lol issue debt for bailout of debt. Gawd Monty Python material

[08:53] {nemo} yeah...just what I was thinking

[08:58] {Threei} (AS) Austrian Fin Min: No danger to EMU from Hungarian fiscal situation

[09:01] {Les} BP decent drop into 38

[09:01] {nemo} with volume

[09:02] {dino} gm all

[09:02] {Les} hey dino

[09:03] {RonS} gm dino & all

[09:03] {dino} :D

[09:03] {Threei} dino, ron :)

[09:05] {Threei} BP Goldman Sachs Cuts BP to Neutral from Buy

[09:06] {nemo} RIG balancing on the 200

[09:14] {magoo} morn

[09:14] {Threei} magoo :)

[09:14] {Threei} larisa :)

[09:14] {larisa} gm :)

[09:17] {Threei} EUR/USD (RU) Russia Central Bank publishes May currency intervention stats

[09:17] {Threei} - Purchased net $4.3B and 1.1B

[09:17] {Threei} what happened to all the "get out of USD"

[09:19] {shorty} morning all

[09:19] {Threei} shorty :)

[09:22] {lasertrev} morning

[09:22] {Threei} trev :)

[09:25] {Threei} AVII Enters $18M funding contract with the U.S. Defense Threat Reduction Agency for H1N1 - filing dated 6/4

[09:29] {jfjf64} mornin

[09:29] {Threei} jf :)

[09:29] {nemo} still can't believe Les never heard of Steely Dan

[09:30] {Les} bluesy rock sort of sound was not my thing as teenager

[09:30] {nemo} wasn't bluesy

[09:30] {Threei} Meeting between French Pres Sarkozy and German Chancellor Merkel has been cancelled - press

[09:31] {jfjf64} les was rockin to flock of seaguls

[09:31] {Threei} .short lvs .45 break

[09:31] {Threei} Short Setup: LVS .45 break

[09:31] {Threei} invalidated

[09:33] {jfjf64} bp

[09:33] {jfjf64} l

[09:33] {jfjf64} nope

[09:34] {Les} fas crash

[09:35] {Threei} ugh LVS

[09:35] {Threei} got away

[09:36] {jfjf64} vxx vad

[09:36] {jfjf64} fill gap

[09:37] {dino} whr sm l .99

[09:38] {Les} FAZ pullback to under .25 for long entry?

[09:38] {nemo} look at big

[09:38] {nemo} that could drop a long way

[09:39] {Threei} LVS bounce time soon

[09:40] {shorty} I was just going to ask

[09:41] {Les} l FAZ .56 stopu under .50 half out .61¨

[09:41] {jfjf64} +11 cents vxx

[09:41] {Threei} .93 LVS long

[09:41] {Threei} if stays above .85

[09:41] {dino} stopped whr -.33

[09:42] {Threei} invalidated

[09:42] {jfjf64} vxx grrrrrrrrrrrrrrrrrrr

[09:43] {jfjf64} bmy .97 break

[09:44] {Threei} Long Setup: LVS .90

[09:44] {Threei} if stays above .80

[09:45] {Threei} lol

[09:45] {Les} 1:3 FAZ out another 1/4 .70

[09:46] {Les} stop to b/e

[09:48] {nemo} hah! raven got booted

[09:48] {shorty} out lvs .10 + 27

[09:48] {shorty} .27

[09:49] {Les} last quarter stopped flat

[09:49] {Threei} wtg

[09:49] {Les} this bounce another shorting opp?

[09:50] {Threei} most likely

[09:50] {dino} whr sm l .50

[09:54] {Les} GG weak in this bounce. watching it for b/d opp later.

[09:56] {Threei} Long Setup: WFC .80 break

[09:57] {dino} air gap market

[09:58] {dino} out whr .55, +1.05

[09:58] {Les} kaching baby $$

[09:58] {jfjf64} nice dino

[09:58] {patience} nice one dino

[09:58] {dino} too soon

[09:58] {dino} ty

[09:59] {Les} half out wfc .85 from .77 long

[10:02] {Threei} let's scratch WFC here

[10:03] {Threei} market is too shaky

[10:03] {Threei} became 50/50

[10:04] {dino} sm l fdx .70

[10:07] {Threei} Raven, welcome back

[10:08] {Raven} hey ... nice to be back

[10:08] {Raven} It is not ... I lied

[10:08] {Les} Raven was gone?

[10:08] {Raven} sigh

[10:10] {Threei} WFC made it after all

[10:10] {Threei} viscous action here

[10:11] {nemo} thick?

[10:11] {Les} :)

[10:11] {ese} hi all just popping in to say high......will not be trading much the next week and a half as per other years.....last litle bit of school.then........FREEDOM!!!!!!! FREEDOM!!!!!! think aretha Franklin here

[10:11] {Threei} ese :)

[10:11] {ese} hey vad

[10:11] {dino} gm es

[10:11] {shorty} Was thinking LVS break .40?

[10:11] {nemo} she couldn't fit in the trading room ese

[10:12] {ese} market kinda up

[10:12] {ese} dino

[10:12] {ese} ya true nemo

[10:13] {Threei} not sure shorty

[10:14] {Threei} market hasn't rewarded this kind of entries lately

[10:14] {ese} patience....your back!!!!! did you get to the Oak Bay Tea Party on the weekend

[10:14] {shorty} Went up sharply, then stalled Threei.

[10:15] {shorty} Lately bounces have been rewarding at the start of the day.

[10:16] {dino} out fdx .90, +.20, mkt dropping

[10:16] {Les} refined my FAZ strategy. out +.05 3k

[10:16] {Les} too soon i see

[10:16] {patience} hi ese :) no, I didn't

[10:17] {ese} not a great day yesterday but nice saturday

[10:18] {patience} i'll see you at the Shish Kabob Party though :)

[10:18] {jfjf64} hoe bout them CELTICS

[10:19] {shorty} Still waiting on my invite for that one patience.

[10:19] {patience} talk to the Man

[10:19] {ese} definitely

[10:19] {dino} go celtics

[10:19] {jfjf64} luv it dino

[10:21] {Threei} LVS, one more sharp dive and will be intersting for bounce

[10:21] {RonS} go Ubaldo Jimenez

[10:21] {Threei} .10 break

[10:21] {Threei} if holding .05

[10:22] {Threei} barely touched 1;1... not what I wanted

[10:22] {shorty} stopped LVS

[10:23] {jfjf64} she want UP

[10:23] {jfjf64} IN

[10:23] {Les} miners a running

[10:23] {Les} are running

[10:24] {jfjf64} grrrrrrrrrrrrr

[10:25] {ese} ould that be the Glasgow Celtics

06[10:25] * nemo slaps ese around a bit with a large backboard

[10:25] {jfjf64} ty nemo

06[10:25] * nemo slaps ese around a bit with a large boston garden

06[10:25] * nemo slaps ese around a bit with a large Causeway Street

06[10:26] * nemo slaps ese around a bit with a large statue of Red Auerbach

[10:26] {ese} ya i deserve that

[10:26] {nemo} just gettin' started

[10:26] {ese} was trying to make a funny but knew i wouldn't get away with it

[10:26] {nemo} I'm from Boston dude

[10:26] {nemo} DB faz vad?

[10:27] {Threei} or breakdown

[10:27] {Threei} just as likely

[10:29] {shorty} stooped lvs

[10:29] {Threei} wow

[10:29] {Les} s lvs .99

[10:29] {Threei} stop was 5 cents

[10:29] {shorty} I tried it again .06

[10:30] {Les} l faz .06

[10:31] {Les} out faz +.16

[10:32] {Les} cover lvs +:10

[10:33] {jfjf64} les ya mind leave some for rest of us

[10:33] {Threei} sheesh FAZ

[10:33] {jfjf64} lol

[10:33] {nemo} broken clock moment

[10:33] {Les} i am good for the day jf. no problems

[10:33] {Threei} GS FCIC reportedly subpoenas the company for documents (141.66, -0.59, -0.41%)

[10:34] {Threei} jf, admin asked to ask you look your e-mail

[10:34] {dino} sm l dcth .98

[10:34] {jfjf64} k

[10:35] {Threei} Long Setup: FAS .55

[10:35] {Threei} if stays above .45

[10:36] {Threei} not a scalp, should be capable of 1:2

[10:37] {Threei} LVS COO: Asia is our future, though there may be some future expansion in the US - Goldman lodging conf (23.79, -0.46, -1.90%)

[10:37] {Les} lvs :(

[10:37] {Threei} invalidated

[10:39] {Les} jeez $gold going nuts

[10:40] {patience} gold up,canadian dollar up, usually commodities go up...not today

[10:42] {Les} c'mon market, you know you want to melt down...

[10:42] {Threei} can't get the rythm today

[10:43] {dino} pico sm l .00, thin

[10:44] {Les} faz .46 l

[10:45] {Les} lol laser says I bought FAZ at .14

[10:45] {Les} I'm rich!

[10:46] {larisa} demorich :)

[10:46] {dino} watching fdx, cvs

[10:46] {Les} :P

[10:46] {Threei} or, you still have position from lower prices that you don't notice,

[10:46] {Threei} and laser shows you avergae of your entry prices

[10:48] {Les} nah that's in order. Glitch I guess

[10:48] {dino} cvs sm l .50

[10:49] {Threei} FAZ, dive under .50 for bounce hunt

[10:50] {Les} out FAZ +.09

[10:51] {dino} stop cvs flat

[10:52] {Les} vad got a problem with level 2

[10:52] {Threei} ?

[10:52] {Les} ahh now I get it. friggin hell I'm slow

[10:52] {Les} if level 2 is showing faulty quotes, what do I change?

[10:53] {Les} quote server?

[10:53] {Threei} continent

[10:53] {Les} aaaaah funny guy

[10:53] {Les} changed quote server. fixed my problem I think

[10:53] {Threei} just a few cents, FAZ...

[10:54] {Les} wanted long FAZ at .65. but there was an offer at .... .14

[10:54] {Threei} not getting precise read today, most entries or invalidations are off by just 2-3 cents

[10:54] {Les} "limit price is out of range!"

[10:55] {dino} cvs held, hmmm

[10:56] {Les} wow $gold is seriously sick. what happened?

[10:56] {Threei} trhe same

[10:56] {Threei} Europe is sinking

[10:58] {Les} TLT 98 break with consolidation?

[10:58] {nemo} woe is me for not taking faz at .05 boo hoo

[10:58] {Les} i did. good risk/reward

[10:58] {dino} dji, ndx break of fri lod

[10:58] {nemo} yep

[10:58] {dino} s/p on it

[10:58] {Threei} TKT not my favorite way to play this breakdown

[10:58] {Threei} TLT

[10:59] {dino} s/p broke

[10:59] {Les} ok

[11:02] {dino} cvs sm l .40

[11:03] {Les} s GG.97 small

[11:04] {Threei} Long Setup: FAS .05

[11:05] {Threei} stop under .95

[11:06] {Threei} target around .30 - .40

[11:07] {Threei} BAC Countrywide unit settles case with FTC on overcharged fees; to pay approx $110M for reimbursement to homeowners (15.02, -0.33, -2.15%)

[11:07] {dino} fdx sm l .36

[11:09] {Threei} 1:1

[11:10] {Threei} half out .17

[11:10] {Les} all out +.10 ty

[11:10] {Threei} promise not to cry?

[11:11] {Les} nah I'm good now. I'll take the scalps as extra.

[11:13] {Threei} ok... scalpers win

[11:14] {Les} yeh this market is on a knife's edge in my humble and lowly judgement

[11:15] {Threei} (EU) IMF: Europe growth outlook remains weak

[11:15] {Threei} you don't say

[11:15] {Les} damn forgot to cancel fas stop loss. s .93

[11:16] {Threei} why do you need it at all?

[11:17] {Les} I like computer handling losses. Helping me immensely since using laser

[11:18] {Les} just gotta remember to turn it off

[11:18] {Threei} my bet is: in real life you will find it harming more often than helping

[11:18] {Les} if that be case then I'll switch over

[11:19] {Les} I have begun handling stops myself occasionaly

[11:19] {nemo} rimm Vad

[11:19] {nemo} oops

[11:20] {larisa} RIMM for reversal nemo?

[11:20] {nemo} possibly but looks like it wants to go short

[11:20] {nemo} yeah, wasn't holding the bid

[11:21] {dino} wow ma

[11:21] {nemo} no hands

[11:22] {Les} gg stopped -.26

[11:26] {Threei} FAS

[11:26] {Threei} 21 break long

[11:26] {Threei} stop under .95

[11:27] {Threei} what a breakdown, RIMM

[11:27] {Threei} we didn't short at .15 it why exactly?

[11:28] {nemo} Yeah, my second broken clock moment today...time for a nap

[11:28] {Threei} half out FAS

[11:28] {Threei} 1:2

[11:28] {Threei} scalpers feel free to take your lumps and go

[11:28] {Threei} I want my .30

[11:30] {Les} haha missed your call...

[11:30] {Les} no lumps to take

[11:36] {Threei} 1/4 more out .24

[11:37] {nemo} fas should keep going until it reaches .50 or spy reach .05

[11:38] {shorty} See you guys tomorrow.

[11:38] {Les} ciao

[11:38] {Threei} take care shiorty

[11:39] {dino} cya shorty

[11:41] {dino} dcth stopped -.33

[11:45] {dino} out cvs .83, +.43

[11:48] {Threei} .30 was perfect target

[11:51] {Les} how did you see .30 as target?

[11:52] {Threei} support from 10:30 - 10:40 period

[11:52] {Les} I see little bounce before b/d .30 just before 10.45am. a zone of consolidation?

[11:52] {Les} ok

[11:55] {dino} dcth blood

[11:57] {Threei} Congressman Steve Scalise (R-LA) to request that President Obama reconsider drilling ban in deepwater Gulf, citing economic fallout for the industry - WSJ (related USO OIH )

[11:58] {Threei} August gold within $10 from all time highs seen in early May (related GLD )

[12:05] {dino} out fdx .97, +.61

[12:05] {Threei} wtg

[12:05] {dino} ty

[12:08] {Threei} MS Fox's Gasparino: Morgan Stanley planning closure of 300 offices, and cut approx 1,200 jobs

[12:09] {Threei} be back in 20

[12:15] {dino} dcth gap filled april

[12:17] {dino} sm l dcth .00

[12:17] {dino} risky, stop is .63

[12:19] {patience} i've been away from scalping too long. totally couldn't execute the buy order for 3 stocks i am tracking. my gut just doesn't believe the charts....i'm overthinking it :)

[12:20] {dino} imo your gut is saying things are messed up. that's whtat mine is saying

[12:21] {Les} and I'm getting sucked into it. Hate it when the market does this

[12:21] {patience} but you are still doing trades

[12:21] {dino} small size patience, 300 sh

[12:22] {patience} good advice, i'll wait for the lunch time crowd to fade and see what the afternoon brings

[12:22] {dino} things are too random for bigger imo

[12:26] {dino} hmmm cf not following pot, mos

[12:28] {Threei} QTWW Subsidiary Signs Power Contract With Ontario Power Authority for Utility-Scale Wind Project in Northern Ontario

[12:28] {Threei} POS

[12:39] {Threei} Short Setup: BP .35 break

[12:40] {Threei} if stays under .40

[12:40] {Threei} invalidated

[12:41] {Threei} quite unusual number of invalidated calls today

[12:43] {jfjf64} lots

[12:44] {jfjf64} opinion

[12:47] {Threei} re-validated

[12:49] {Threei} two ways to play it

[12:49] {Threei} as a scalp with stop above .40

[12:49] {Threei} or day trade, .45

[12:52] {Threei} no go

[12:55] {patience} life sucks, have you noticed?

[12:55] {patience} i go to cash day before my asia trip

[12:55] {patience} my partner buys heavily

[12:55] {patience} he just skyped to say as of today he is up 20%

[12:56] {dino} but you had great vacation

[12:56] {Les} the money or a trip to china?

[12:56] {Les} hmmmm

[12:56] {patience} but i like the idea of making money while i am on vacation

[12:56] {patience} i am whining

[12:56] {dino} don't we all

[12:57] {dino} yes, you are. i'm surprised ;)

[12:57] {RonS} coulda been smacke w/ an '87 style crash patience...

[12:58] {RonS} "it's better to be out wishing you were in, than in wishing you were out"

[12:58] {nemo} you talkin' about stocks?

[12:58] {RonS} could be...

[12:58] {jfjf64} lol

[12:58] {nemo} :)

[12:59] {Les} why, what you thinking nemo?

[12:59] {RonS} :P

[12:59] {nemo} I don't think?

[12:59] {nemo} Actually, I think it's time for a drink

[12:59] {jfjf64} bingo

[12:59] {Les} way ahead of ya man

[13:00] {nemo} yeah, 6 hours ahead

[13:00] {RonS} ...what are you? w.c. fields re-incarnated?

[13:01] {dino} out dcth .31, +.31

[13:01] {nemo} I'm reincarnated...exactly what I am... no eye deer

[13:01] {RonS} dcth...dead cat trampoline high?

[13:01] {jfjf64} dino monster wtg

[13:01] {nemo} frickin BP

[13:02] {jfjf64} set up here 4 us

[13:02] {nemo} ?

[13:03] {jfjf64} in

[13:03] {dino} lucky

[13:03] {nemo} what, bp?

[13:03] {jfjf64} y

[13:03] {jfjf64} .30

[13:04] {Threei} grrr

[13:04] {dino} brb

[13:04] {jfjf64} out

[13:05] {Les} nice one jf

[13:05] {jfjf64} i hv to thank nemo

[13:05] {jfjf64} ty neno

[13:05] {Les} and here I've got the missus bugging me to scan school books for replacement teacher :)

[13:06] {jfjf64} nemo

[13:06] {nemo} wow, THREE broken clock moments

[13:06] {Les} you're a useful broken clock

[13:07] {Threei} AAPL CEO Jobs: Planning for iPad to be available in 19 countries by July end; 35M app downloads for iPads thus far

[13:08] {Threei} had a chance to play with iPad yesterday

[13:08] {Threei} I am yet to understand what this buzz is about

[13:08] {Les} you just don't get it!

[13:08] {Threei} no

[13:08] {Les} try a lobotomy...

[13:08] {Threei} I guess you have to be an iPod generation

[13:08] {Les} and then you too can become apple maniac

[13:08] {Threei} or that

[13:10] {dino} i don't get it either 3i

[13:12] {Threei} - Currently produced iPads as quickly as possible

[13:12] {Threei} - Users have downloaded 5M ebooks in first 65 days of iPad sales, estimates ebook market share at 22%. Updated iBook reader includes bookmarks, ability to make notes in e-books, and to read PDFs.

[13:13] {Threei} so can my 5 years old laptop... what's the big deal?

[13:13] {dino} all marketing i guess

[13:16] {Les} all need to identify ourselves with something or someone...

[13:16] {Les} even if it's with whacky bunch of traders like yourselves

[13:17] {dino} cf sm l .75

[13:18] {Les} drinking red wine from Midi du France and Manchego cheese from Spain. I hope to see Euro coming down a lot more in price

[13:20] {Threei} NFLX Ticks higher on announcement of iPhone version of app at Apple's WWDC (already available on the iPad) (111.75, +1.97, 1.79%) (related AAPL )

[13:22] {nemo} fcx, db maybe

[13:28] {nemo} RIMM CE&H?

[13:29] {nemo} ehhh....nah

[13:33] {nemo} damn, the C&H worked

[13:33] {Threei} headfake or rally

[13:34] {nemo} I think retest of the highs today

[13:34] {Threei} that ias the question

[13:34] {nemo} I thought it was "To be, or not to be?"

[13:34] {Les} threw away l FAZ entry. not wanting to find out

[13:34] {patience} rally

[13:34] {nemo} rimm having problems at the 200 and pivot resistance right here

[13:34] {Threei} that one was resolved by bee counters, nemo

[13:35] {nemo} cute

06[13:35] * nemo slaps Threei around a bit with a large copy of Hamlet

[13:35] {Les} huh?

06[13:35] * nemo slaps Threei around a bit with a large copy of Harold Hecubah's production of Hamlet on Gilligan's Island

06[13:36] * Threei slaps nemo around a bit with a large wooden beehive

[13:36] {nemo} ?

[13:36] {nemo} wooden?

[13:37] {Threei} Apple Inc CEO Jobs: Formally announces iPhone 4, one hundred new features including a front facing camera and camera with flash on back - WWDC

[13:37] {Threei} - 24% thinner, at 9.3mm

[13:37] {Threei} - Glass on front and back with steel on sides, noise cancellation mic

[13:37] {Threei} - GSM, Wi-fi, GPS, Bluetooth, UMTS

[13:42] {Les} a frikkin head fake, just after covering. such is life

[13:48] {Threei} UDRL

[13:48] {Threei} Union Drilling, Inc. Issues statement on rig accident well fire this morning

[13:48] {Threei} - Our first priority is making certain that those injured receive proper medical attention. The families of all employees injured in the accident, ours and those of BJ Services, are in our thoughts and prayers

[13:48] {Threei} - Union Drilling is cooperating fully with the well operator and all authorities in their resolution and investigation of this fire.

[13:49] {dino} cf stopped -.33

[13:50] {RonS} gs news?

[13:51] {Threei} not right now

[13:57] {Threei} BP doesn't drop wkith market this time

[13:57] {Threei} Long Setup: BP .25 brweak

[13:57] {Threei} if stays above .20

[14:00] {Threei} invalidated

[14:00] {Threei} word of the day

[14:07] {jfjf64} s bp .10 break

[14:09] {jfjf64} nope

[14:12] {Threei} [14:00] {Threei} invalidated

[14:12] {Threei} [14:00] {Threei} word of the day

[14:12] {jfjf64} lol

[14:14] {jfjf64} better then STOP

[14:14] {Les} faz breakout?

[14:15] {Threei} looks like

[14:15] {Threei} but heck

[14:15] {Les} buy first

[14:15] {Les} invalidate after

[14:15] {Threei} that's what I don't want

[14:17] {jfjf64} BP .35 break vad

[14:17] {Threei} no

[14:17] {Les} l FAZ .71 half

[14:17] {Threei} today's stratagey must be different

[14:18] {Threei} strategy too

[14:18] {Threei} let breakout go, wait for a drop, wait for breakdown to form, then buy

[14:18] {Threei} shaking out those who went for breakdown, stock will return to your original breakout and above

[14:19] {Threei} see BP invaliadting .25 break, forming .10 breakdown, bouncing all the way back and above

[14:19] {Threei} how may times today it happened?

[14:21] {larisa} too may :)

[14:22] {jfjf64} workin as we speak bp

[14:23] {jfjf64} .35 breakout

[14:23] {jfjf64} ect

[14:23] {jfjf64} correct

[14:26] {Les} managed to screw the stop loss on my FAZ l. stopped -.02.

[14:34] {RonS} aapl rotten

[14:35] {RonS} jobs says aapl to have aids...

[14:35] {RonS} wait, that was iads...

[14:37] {Threei} so, just as we discussed break or headfake, market reversed and dropped back to low

[14:37] {Threei} thus, we again have this eternal question

[14:37] {Threei} breakdown or headfake

[14:38] {Threei} (EU) EU's Juncker: Confirms that EU finance ministers have confirmed the details of the 750B Euro Zone bailout package

[14:41] {Threei} bailout package, to be "functional" this month

[14:41] {Threei} - Fiscal policy stance in the Euro Zone will clearly be "restrictive" by 2011.

[14:41] {Threei} - Special Purpose Vehicle (SPV) will be set up as a limited liability corporation to administer the bailout package.

[14:41] {Threei} - To hire CEO for the SPV soon.

[14:42] {Threei} Europe will pursue fiscal consolidation after 2011.

[14:42] {Threei} wow

[14:42] {Threei} ambitious

[14:42] {Threei} good luck

[14:42] {nemo} funny, actually

[14:42] {Les} voters say "over our dead bodies"

[14:43] {Threei} no kidding

[14:43] {Threei} fiscal consolidation? wars were fought over less significant issues

[14:43] {Threei} one actually over pretty lady

[14:44] {Threei} pretty by that time standards btw

[14:45] {Threei} - Estonia has won ministerial approval to join the Euro Zone from 2011.

[14:45] {Threei} {Estonia} did I really?

[14:46] {RonS} ...the city of denver has become estonia.

[14:46] {Les} With Russian tanks on border saying otherwise...

[14:46] {RonS} ...more pot dispensaries than starbucks...

[14:46] {nemo} things might fall off the cliff here

[14:46] {Threei} (EU) EU's Rehn: There now is zero uncertainty on Europe's promise to provide 440M in financial backing, if needed

[14:46] {Threei} thank goodness, said market and dropped

[14:46] {Les} good. s AUY .92

[14:46] {RonS} aapl is really heavy...

[14:47] {nemo} unless they can't float the bill

[14:48] {Threei} by the way, ancient Freeks were the ones warring over that damsel

[14:48] {Threei} Greeks

[14:49] {RonS} freeky too...

[14:49] {Threei} lol

[14:49] {Threei} freudian mistype

[14:50] {RonS} ...actually the ancient celts were the freaky ones...

[14:50] {Les} cover half auy +.08

[14:53] {Threei} (IA) US planning to provide the resolution on Iran this week

[14:53] {Threei} - Note: Germany, Russia, and China among other members of security council voiced their support over the weekend

[14:54] {RonS} ...how do you spell weak?

[14:55] {RonS} ...the Chinese won't even reign in that idiot in no. korea

[14:55] {Threei} self-reigning USA is the only one successfully fighting for the title of self-imposed idiocy

[14:56] {Les} faz 17 break?

[14:56] {RonS} ...and the russian are going to prevaricate while they bask in their delusion of granduer.

[14:56] {Threei} chart wise, yes... all today's expertience wise, no

[14:56] {Threei} don't know what to say Les

[14:57] {nemo} fas more likely at the moment les

[14:57] {Threei} everything in me says market is not done punishing everything and everyone for Europe

[14:57] {Threei} but it doesn't translate into entries today

[14:57] {dino} ok chaos time, back in 10

[14:58] {Threei} oh good

[14:58] {Threei} now dino factor is being introduced too

[14:58] {nemo} that means faz should work

[14:59] {Les} I'm in

[14:59] {nemo} I was kidding?

[14:59] {Les} yeh yeh

[14:59] {nemo} [14:56] {nemo} fas more likely at the moment les

[14:59] {Les} get a life man

[15:00] {Les} let me put smiley face here:

[15:00] {Les} :)

[15:00] {Les} there, a joke nemo. it was a joke

[15:00] {nemo} you stopped out yet?

[15:01] {Les} yeh

[15:01] {Threei} I was not about to try and actually trade these counter-setup moves today,

[15:02] {Threei} but if tomorrow we see first reversal like this, going to try

[15:02] {nemo} fcx didn't move on this little up move, but absorbing huge volume

[15:06] {Les} 2nd half auy covered +.03

[15:09] {patience} i went all in around 1:30 eastern time....let's see how i do with overnight holds

[15:09] {nemo} wow

[15:10] {Les} long?

[15:10] {patience} yup

[15:13] {dino} turnaround tuesday

[15:13] {nemo} nah...this is consolidation before the next big leg down :)

[15:17] {Threei} FCX short was seriously tempting

[15:17] {Threei} too bad I resisted

[15:17] {dino} issue is the ndx gap at 1796 imo

[15:17] {nemo} yeah, I watched order flow, big seller at 60, couldn't lift

[15:19] {nemo} I wonder if they'll hit the fire alarm?

[15:21] {dino} seems so

[15:21] {nemo} When Black Tuesday comes....

[15:21] {Threei} FCX bounce time

[15:22] {jfjf64} watchin

[15:22] {jfjf64} .40

[15:24] {nemo} imo no short covering today

[15:24] {nemo} big offer .25 fcx

[15:25] {nemo} gone

[15:26] {Threei} one more leg down

[15:28] {jfjf64} lot fakeouts today

[15:29] {nemo} real low volume today

[15:30] {nemo} o.k. maybe this week we get the fas/faz cross...

[15:30] {jfjf64} boy not to long ago we had our 11k hats on

[15:30] {nemo} what's this "we" stuff Tanto?

[15:30] {Threei} look at it this way: we now have two more parties ahead,

[15:31] {Threei} for 10K and 11K

[15:31] {Threei} and if we are lucky to drop under 9K, three

[15:31] {jfjf64} 9k

[15:31] {RonS} ...or 9k and 8k...

[15:31] {jfjf64} hope

[15:31] {Threei} yup

[15:31] {nemo} or 7 and 6

[15:31] {jfjf64} fcx dropin

[15:31] {nemo} then of course, there's the Armageddon party

[15:31] {jfjf64} .56--.50

[15:32] {nemo} might get a bit of a bounce here if market bounces

[15:33] {RonS} ...kinda feel guilty...just noticed mags not here...

[15:33] {Threei} he left 20 min ago

[15:34] {jfjf64} one more leg down

[15:34] {jfjf64} fcx

[15:34] {Threei} .80 break

[15:34] {Threei} rime to try

[15:34] {jfjf64} k

[15:34] {dino} 118.87 euro/fxe

[15:35] {Threei} half out

[15:35] {Threei} or scalp if you want

[15:35] {jfjf64} ty

[15:35] {jfjf64} +13

[15:35] {dino} whr sm l .24

[15:41] {dino} stopped -.35

[15:42] {Threei} somewhat disappopinting day for me, even though positive

[15:42] {Threei} I had this feeling from Friday that we are in serous wave of selling

[15:42] {Threei} and couldn't find reloable short entries

[15:42] {nemo} Black Tuesday :)

[15:42] {jfjf64} fcx burried

[15:43] {jfjf64} wow

[15:46] {dino} -20% in 4 days

[15:48] {RonS} pretty much tracking the price of copper...although there was some significant negative separation today

[15:49] {dino} ndx filled

[15:52] {dino} fcx was 91 in april, brutal

[15:54] {jfjf64} good day all

[15:54] {RonS} cya jf

[15:55] {Les} not really. hoping tomorrow is better. ciao jf

[15:55] {Threei} take care jf

[15:55] {jfjf64} ciao

[15:55] {jfjf64} tell admin will touch base

[15:57] {dino} later all, thx

[15:57] {Les} ciao

[15:57] {RonS} cya dino

[15:57] {Threei} take care dino

[15:57] {Threei} thank you all

[15:57] {Les} night

[15:57] {Threei} have a good evining, see you tomorrow

[15:57] {Les} u too

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