Oct 14 2011

(Participation in the room in real time requires membership)

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

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

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


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

Sep 27 2011

(Participation in the room in real time requires membership)

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

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

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

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


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

Sep 22 2011

(Participation in the room in real time requires membership)

Perfect day for us, as often on down days - two small stops, a lot of nice wins. Handled the day in a very calm, disciplined fashion. Let's also do an update to our SPY video series:

Session Time: Thu Sep 22 00:00:00 2011

[08:39] {Threei}  wow
[08:39] {nemo} what wow?
[08:40] {nemo} btw...113.90 was semester S3
[08:40] {Threei}  well, I of course expected a gap down, but the size is wow
[09:01] {Threei}  oh btw
[09:01] {Threei}  as if all other troubles were niot enough,
[09:01] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 423K V 420KE; CONTINUING CLAIMS: 3.727M V 3.722ME
[09:03] {RonS} gm...copper got crushed overnight -6+%
[09:03] {Threei}  ron :)
[09:03] {Threei}  well.. what didn't? :)
[09:04] {RonS} ese's optimism?
[09:05] {Threei}  http://www.facebook.com/RealityTrader/posts/263845006983515
[09:12] {dino} gaps below ndx 2252
[09:12] {dino} then dji 10716, ndx 2044, s/p 1120
[09:17] {larisa} gm :)
[09:17] {Threei}  larisa!
[09:17] {Threei}  you know my question, right?
[09:18] {nemo} slw short
[09:18] {larisa} no, and not sure i want to :)
[09:18] {Threei}  ok, I'll try to refrain
[09:18] {Threei}  ok, I tried, no can do
[09:18] {Threei}  may I finally say Panic and Crash?? :)
[09:19] {nemo} you can even shout "Fire" in a crowded theatre
[09:19] {larisa} :)
[09:22] {dino} the contrarian in me says look for bottom to buy
[09:22] {patience} good morning
[09:24] {dino} we were -4% as of yesterdays close from friday close, so another 3-5% should do it, imo
[09:24] {Threei}  patience :)
[09:25] {nemo} [08:11] {nemo} We're already trading below daily S2 on spy 112-112.50 next area of support below, then below that 111-111.50 and then below that we have the 8/9 low
[09:25] {nemo} [08:13] {nemo}  and to be really pessimistic, the next convergence zone below those is 108.50 to 109.20 with some price support in the 109.80 area
[09:25] {Threei}  I for one am not going to guess on the bottom and trade it stock by stock and chart by chart
[09:26] {Threei}  with skipping first minutes of course
[09:27] {dino} i am looking for the 1120 gap
[09:28] {Threei}  that's critical support level
[09:29] {Threei}  it we consolidated a bit above it and breakl it, look out below
[09:30] {Threei}  ok guys, I don't have to warn you to be doubly careful today
[09:30] {Threei}  you know about old anf bold pilots
[09:31] {Threei}  let's skip first minutes of extra volatility and spreads
[09:31] {Threei}  one thing though looks tradeable
[09:31] {Threei} Long Setup:  SVM  .60 b reak
[09:32] {ese} gm
[09:32] {Threei}  ese :)
[09:32] {Threei}  stop under .50
[09:32] {Threei}  target .80
[09:32] {Threei}  3 partials
[09:32] {Threei}  2 partails sorry
[09:32] {dino} 2252 filled
[09:34] {Threei}  we called FCX botomless chart" when it was about 41
[09:35] {ese} hmmmmmmmm nice job BEN!!!!!!!!! instilling that confidence in the market.....whatda guy
[09:35] {Threei}  Ben is an idiot, to be sure...
[09:35] {Threei}  but heck, what did we want him to do? pump even more money in this?
[09:36] {Threei}  (EU) There is a growing consensus among EU diplomats and officials that Greece will default while remaining inside the eurozone. - UK Telegraph
[09:38] {Threei}  and look where the next storm is brewing:
[09:38] {Threei}  (CH) There are growing fears that Chinese developers are losing access to funding and will be forced to slash prices - FT
[09:38] {Threei}  - In today's Asian session Greentown's Hong Kong-listed shares tumbled 16.2%, though the group said it was unaware of any investigation by the China Banking Regulatory Commission.
[09:38] {Threei}  - Other Hong Kong-listed developers that use trust financing include Agile Property, Evergrande, KWG and Shimao. All four groups fell by more than 10% in trading today.
[09:38] {Threei}  - Since June, all but the top state-owned developers have been shut out of international debt markets as bond prices have plunged, leaving China's nascent trust company sector as the lender of last resort.
[09:38] {Threei}  - In the past few weeks, property prices have started to dip in many cities, after a sharp decline in sales volumes.
[09:38] {Threei}  - In Shanghai, transaction volumes have slumped more than 50% y/y. As a result, developers have cut prices by up to 10% on nearly 150 residential projects in Shanghai, according to Chinese real estate site Soufun.
[09:38] {Threei}  I start feeling like a real prophet
[09:39] {dino} sina sm l .50
[09:41] {dino} stop sina -.31
[09:41] {Threei} Long Setup:  SLW  .50 break
[09:42] {Threei}  if stays above .35
[09:42] {Threei}  regulate size according to your risk tolerance
[09:42] {Threei}  and in this situation you can't be too careful
[09:44] {Threei}  no go
[09:44] {Threei}  why didn't we just sell it above .60
[09:45] {Threei} Long Setup:  RIMM  .80 break half lot
[09:45] {Threei}  if stays above .70
[09:48] {Threei}  invalidated
[09:48] {nemo} lvs
[09:48] {Threei}  but watching for another trigger here
[09:48] {Threei}  possible double bottom forming
[09:51] {Threei}  nope
[09:54] {Threei}  for such huge gap, martkret trades in a somewhat subdues fashion
[09:54] {Threei}  subdued
[09:56] {dino} picking up speed now
[09:58] {Threei}  yeah but on downside
[09:59] {Threei}  ok, this setup looks more normal:
[09:59] {Threei} Long Setup:  RIMM  .50 break half lot
[09:59] {dino} thats what i saw
[09:59] {Threei}  if stays above .40
[10:00] {dino} nvda l .40
[10:00] {Threei}  yes... slower while trying to hold, accelerates when breaks down - more downside in cards
[10:00] {dino} rht sm l .75
[10:00] {Threei}  *(US) JULY HOUSE PRICE INDEX M/M: 0.8% V 0.1%E
[10:01] {Threei}  *(EU) EURO ZONE SEPT ADVANCED CONSUMER CONFIDENCE: -18.9 V -18.0E
[10:01] {Threei}  *(US) AUG LEADING INDICATORS: 0.3% V 0.1%E
[10:02] {Threei}  charts finally look like some bounce might develop
[10:02] {Threei}  need SPY to break 113
[10:02] {dino} meli sm l ave .20
[10:03] {Threei}  and if RIMM breaks .65, it has easy road to about .80
[10:03] {Threei}  so, let's try to partial
[10:03] {Threei}  unless you are convinced scalper
[10:03] {dino} out rht .15, +.40
[10:03] {Threei}  wtg
[10:03] {dino} ty
[10:04] {patience} good for you dino, still haven't waded into the sharks
[10:04] {dino} ;)
[10:04] {dino} hmmm rht continued up
[10:05] {dino} out nvda .60, +.20
[10:06] {Threei}  1:1
[10:06] {Threei}  half out, stop to .49
[10:07] {Threei}  1:2
[10:08] {dino} nvda l .51
[10:08] {dino} sina smr l .25
[10:09] {dino} 07 all green
[10:09] {Threei}  SVM 1:1
[10:10] {Threei}  RIMM taregt hit
[10:10] {Threei}  out in full
[10:11] {Threei}  SVM 1:2
[10:12] {Threei}  so far so good
[10:13] {dino} out sina .40, +1.15
[10:13] {dino} out meli .34, +1.14
[10:13] {patience} ok, it is dino's day
[10:14] {dino} just lucky
[10:15] {Threei}  beautiful
[10:18] {dino} aaww sm l .75
[10:18] {Threei}  so far, calm and organized carries the day
[10:18] {dino} cyou sm l ave .40
[10:19] {dino} 07 all green
[10:23] {dino} out nvda .70, +.20
[10:23] {dino} .19
[10:25] {dino} stop aaww .46, -.29
[10:30] {Threei}  OPEC members said to not be concerned about recent oil price decline as it is forecasted to be temporary - financial press
[10:30] {Threei}  - Members claim recent decline can be attributed to speculation
[10:30] {Threei}  so, let me get this straight
[10:31] {Threei}  price rise is justified, drop is speculation
[10:31] {Threei}  got it
[10:35] {dino} aaww sm l ave .31
[10:35] {Threei}  (GR) Former Fed Chair Greenspan: Greece is a few weeks away from defaulting without a new tranche of aid
[10:35] {Threei}  look who just can't shut up
[10:38] {dino} nvda l .51
[10:38] {Threei}  something lit fire under RIMM
[10:39] {Threei}  no news that I see
[10:44] {thomcbell} laggard on bloomberg radio
[10:45] {Threei}  yeah, watching her on tv
[10:45] {dino} brk/b sm l .70
[10:45] {nemo} fdx
[10:48] {Threei} Long Setup:  LVS  .65 break
[10:48] {Threei}  invalidated
[10:50] {Threei}  aww
[10:50] {Threei}  shouldv'e just bought the pullback eh
[10:55] {Threei}  doesn't RIMM strike you as one of the least likely candidates to be green today?
[10:55] {dino}  ilmn too
[10:56] {RonS} csx the most curious to me
[11:01] {dino} rrc again
[11:02] {dino} out nvda .63, +.12
[11:04] {Threei} Short Setup: RIMM  .50 break
[11:04] {Threei}  invalidated
[11:04] {Threei}  but watching for double top
[11:04] {nemo} invalidations ain't taking long
[11:04] {Threei} Short Setup: RIMM  .60 break
[11:04] {Threei}  lol
[11:04] {nemo} rimm
[11:04] {Threei}  that's a good thing
[11:06] {nemo} if it invalidates likely go to .90 area
[11:07] {Threei}  it did
[11:08] {nemo} .79?
[11:09] {Threei}  short?
[11:09] {Threei}  no
[11:09] {Threei}  not yet
[11:09] {nemo} .80 was a big level
[11:09] {nemo} selling .79's
[11:10] {Threei}  let's it establish this level
[11:10] {Threei}  now it becomes a short trigger
[11:10] {nemo} rebid it
[11:10] {nemo} spy going long a bit here
[11:10] {Threei} Long Setup:  LVS  .15 break
[11:11] {Threei}  target .45
[11:11] {nemo} short rimm
[11:12] {nemo} out above .81
[11:12] {Threei}  wow
[11:12] {Threei}  that's tight stop
[11:12] {nemo} what, look at offer
[11:12] {nemo} 507 lots at .81
[11:13] {Threei}  LVS stop .04
[11:13] {thomcbell} rimm classic chinook todayh
[11:13] {nemo} Helicopter, or wind
[11:13] {nemo} ?
[11:13] {Threei}  salmon
[11:13] {thomcbell} salmon swimming against the current
[11:13] {Threei}  :)
[11:13] {nemo} oh
[11:13] {Threei}  1:1 RIMM
[11:14] {nemo} .80 was the level, and that big offer put a lid on it
[11:15] {nemo} see .64?
[11:16] {nemo} if it drops .64 I might add, especially if it rebids and drops it again
[11:17] {nemo} nowtf
[11:18] {nemo} stop still above .81
[11:18] {Threei}  LVS defends .05 fiercely
[11:18] {Threei}  good boy
[11:19] {Threei}  half out
[11:19] {Threei}  stop to .09
[11:23] {Threei}  out
[11:24] {RonS} nemo i am s rimm .65...target?
[11:25] {dino} nvda l .45
[11:25] {nemo} I'm just reading levels on rimm chart isn't telling me much
[11:25] {RonS} thanks
[11:27] {nemo} I"d say .40 a possible bounce but closest pivot support is .14
[11:28] {RonS} out rimm .35 +.30
[11:28] {Threei}  nice
[11:29] {Threei}  great trading today guys
[11:29] {Threei}  calm, collected
[11:29] {Threei}  disciplined
[11:29] {Threei}  some'd say comatose, but they are just jealous
[11:30] {Threei}  hmmm... on second thought yeah, comatose is our normal state
[11:30] {thomcbell} nice work rimm - 2x
[11:30] {dino} gj ron
[11:30] {RonS} new copper low
[11:30] {RonS} txs...lucky...
[11:30] {dino} praa sm l .24 pulp
[11:35] {nemo} spy higher low?
[11:36] {Threei}  very hard to tell
[11:36] {thomcbell} and on a doji on the 15 min chart - somewhat interesting
[11:37] {RonS} just a europe closing bounce...imo
[11:37] {Threei}  I dunno guys
[11:37] {nemo} OALA EHA ATOS
[11:37] {Threei}  my guts say, we are to see more selling and new lows
[11:38] {RonS} hawaiian?
[11:38] {nemo} acronymian
[11:38] {patience} want to see the vix hit 50
[11:39] {RonS} kinky
[11:39] {patience} ty
[11:46] {Threei} Long Setup:  RIMM  .50 break
[11:46] {Threei} Short Setup: RIMM  .40 break
[11:46] {nemo} scarecrow setup
[11:46] {Threei}  what did you call me?
[11:47] {nemo} you ever see the Wizard of OZ?
[11:47] {Threei}  he drops by sometimes, mostly when I am drunk
[11:48] {Threei}  stop is self-explanatory I believe
[11:48] {Threei}  target 1:3, three partials
[11:48] {nemo} in the movie they come across the scarecrow up on the pole and ask him which way to Oz.  He promptly crosses both so they point in opposite directions and says "That a way"
[11:49] {Threei}  must've been a trader
[11:53] {Threei}  1:1
[11:56] {Threei}  1:2
[11:56] {Threei}  stop .41 for the last part
[12:00] {Threei}  stop to .36
[12:03] {Threei}  test of the low is about to come
[12:03] {Threei}  IMO{ low will not hold
[12:06] {Threei}  there
[12:06] {dino} 10716 filled
[12:06] {Threei}  ugh, wanted to short LVS 46 break
[12:06] {dino} 10605 yearly low
[12:06] {Threei}  then thought it would be pushing it
[12:06] {dino} 1101 and 2029
[12:12] {nemo} tempted to go long spy/tna here
[12:15] {Threei}  (CH) Senator Brown (R-MA): China currency bill would treat currency manipulation as an unfair subsidy
[12:15] {Threei}  - Asserts that China currency manipulation is undermining US job creation.
[12:15] {Threei}  - Senator Schumer (D-NY): There is no question that China's trade practices are hurting the US economy.
[12:15] {nemo} nah...Bennie doesn't manipulate our currency
[12:20] {Threei}  ok, now that morning rush is over... welcome aboard, thomcbell
[12:21] {Threei}  RIMM, covered last piece
[12:21] {Threei}  close enough to target
[12:40] {dino}  l titn .76
[12:52] {dino} 07 green
[13:00] {dino} out brk/b .03, +.33
[13:00] {dino} out praa ave . 94, +.70
[13:01] {dino} out nvda .55, +.10
[13:14] {Threei}  great winning series
[13:14] {dino} out aaww .66, +.35
[13:14] {Threei}  (said he waking up)
[13:14] {RonS} lol, they had chubby checker on fast money last night talking about the twist...
[13:15] {RonS} the guy sounded very lucid...
[13:17] {RonS} good one:  http://tinyurl.com/3oq833o
[13:18] {Threei}  hehe
[13:26] {dino} stop titn -.27
[13:37] {Threei}  http://www.facebook.com/RealityTrader/posts/263948690306480
[13:45] {Threei}  TZA
[13:45] {Threei}  half lot long here
[13:46] {Threei}  got .55 and .60
[13:46] {Threei}  stop under .40
[13:47] {Threei} Short Setup: RIMM  21 break
[13:47] {Threei}  if stays under .10
[13:48] {Threei}  SPY new low
[13:49] {Threei}  no go TZA
[14:00] {Threei}  rinsed eh?
[14:03] {Threei}  RIMM 1:1
[14:05] {Threei}  how about that call for more lows
[14:08] {Threei}  as if anyone cares... back to coma
[14:18] {dino}   1120 filled
[14:22] {dino} rht sm l .85
[14:23] {Threei}  (EU) EU is said to be looking to accelerate the recapitalization of up to 16 banks
[14:23] {dino} out rht .35, +.50
[14:25] {dino} titn l .25
[14:29] {dino} ssys sm l .09 ave
[14:30] {Threei}  RIVO
[14:30] {Threei}  TIVO
[14:30] {Threei}  intergrates with facebook
[14:32] {Threei}  let's see full text
[14:32] {Threei}  (EU) EU is said to be looking to accelerate the recapitalization of up to 16 mid-tier banks - FT
[14:32] {Threei}  - European officials are said to be ready to speed up plans to recapitalize the 16 banks that came close to failing last summer's EU stress tests.
[14:32] {Threei}  - Seven are Spanish, two are from Germany, Greece and Portugal, and one each from Italy, Cyprus and Slovenia. The list includes Germanys HSH Nordbank and Banco Popolare of Italy.
[14:32] {Threei}  ***Reminder: On Sept 21st there was dealer chatter that the French govt might force some kind of recapitalization on its banking sector. Separate reports indicated France was expected to launch a state bank for small and medium-sized companies
[14:33] {Threei}  non-event IMO
[14:33] {nemo} to lend to whom?
[14:33] {Threei}  exsactly
[14:33] {nemo} WHAT!!!?
[14:33] {Threei}  they still treat it as liquidity crisis
[14:33] {Threei}  sorry
[14:33] {Threei}  eqzaktly
[14:33] {nemo} that spelling is a ahem...troutable offence
[14:33] {Threei}  right
[14:33] {Threei}  I am very very sorry
[14:37] {Threei}  doesn'tit amaze you?
[14:37] {Threei}  a few years intio crisis,
[14:37] {nemo} It's no worse than marriage
[14:37] {Threei}  and they still try to cure this and that, but not the major underlying reason?
[14:37] {nemo} political solutions not operational
[14:38] {Threei}  well, lunacy should end at some point... one would think
[14:38] {Threei}  it;s not a crisis of liquidity
[14:38] {nemo} Red pill or Blue pill
[14:38] {dino} titn stopped again
[14:38] {Threei}  it's not an economic cycle of overproduction
[14:38] {nemo} remember the chapter on sick-mindedness
[14:38] {Threei}  it's a credit bubble
[14:39] {nemo} and a debt problem
[14:39] {Threei}  severe credit cycle
[14:39] {nemo} yeah, there is no painless way out of this
[14:39] {Threei}  no
[14:39] {nemo} I also think we're reaching certain Malthusian resource limits
[14:39] {Threei}  but adding to debt as a cure?
[14:39] {nemo} only if curing is killing the patient
[14:41] {nemo} Funny...let's say the economy turns around, and actually gets strong.  Where do you think oil and gas prices will go?
[14:45] {Threei}  up
[14:45] {Threei}  why?
[14:47] {nemo} well, it can only go so far before it becomes a significant drag on economic activity and consumer spending.  Considering it's this high in the worst economic conditions since the Depression, there is relatively limited upside for economic activity
[14:47] {Threei}  right
[14:47] {Threei}  classic feedback-feedforward loop
[14:47] {nemo} And when you have an economy that has so much "discretionary" related economic activity, lots of that has to go by the wayside as more income is devoted to necessities
[14:48] {nemo} Frankly I think necessities will be redefined (I'm giving up boxers)
[14:48] {RonS} chnaging name to cj?
[14:48] {RonS} changing
[14:49] {nemo} commando j?
[14:49] {RonS} joe
[14:49] {Threei}  well, when such big share of population considers iphone necessity...
[14:49] {nemo} http://www.cbsnews.com/8301-504784_162-20110214-10391705.html
[14:49] {Threei}  sooner or latyer this had to crash no?
[14:49] {nemo} well...Iphone maybe, but untethered communications is replacing wireline
[14:50] {Threei}  as if communication were necessity...
[14:50] {Threei}  I am very fine not communicating with anyone
[14:50] {nemo} So, anyway...when all those discretionary items (seen a grocery store lately) are pared back, how many more jobs disappear?
[14:51] {Threei}  yes... big part economy has been built on slack
[14:51] {nemo} me too...I catch hell...you didn't return my message...no...you didn't answer your phone...no
[14:51] {Threei}  on fuzzy need
[14:51] {nemo} fuzzy need...no need
[14:51] {nemo} manufactured need
[14:51] {Threei}  production and distribution of things that were demanded and consumed only because pkenty of easy credit sloshed around
[14:52] {nemo} and marketing is effective to brain dead humans...of which they are legion
[14:52] {Threei}  credit bubble bursted, enormous share of products went out of demand, taking jobs with the,
[14:52] {Threei}  simple as that
[14:52] {Threei}  bursted?
[14:52] {Threei}  yikes
[14:52] {nemo}   let's see you need food, housing, clothing, sex, guns, and alcohol  that's it!!!
[14:53] {Threei}  actually... all you need is guns :)
[14:53] {RonS} don't forget the bullets...
[14:53] {nemo} true, you can get the rest with them
[14:53] {Threei}  the rest will be given to you by those without them
[14:53] {nemo} that's implied Ron
[14:54] {nemo} oh, discretionary maybe, but I would like Psyllocibin Mushrooms and Peyote also
[14:54] {Threei}  such sophistication
[14:55] {nemo} ?  names dude
[14:55] {Threei}  I am a savage, Hlenlivet will do
[14:55] {Threei}  Glenlivet
[14:57] {dino} beer
[14:57] {nemo} that falls under "alcohol"
[14:57] {thomcbell} ah glen livet - 12 yr please
[14:57] {Threei}  12 or 18
[14:57] {Threei}  either works
[14:57] {Threei}  glenfiddich will do just as well
[14:58] {nemo} I remember having a bottle of either 100 or 150 year old Drambuie
[14:58] {nemo} what a difference, smooth as silk
[14:58] {nemo} As a sensitive aside...nobody faint because it's coming from me
[14:58] {dino} i have some 60 year old seagrams, drambuie, and crown
[14:58] {nemo} Remember last year when I was taking care of my dying uncle?
[14:58] {thomcbell} 18 a tad too rich
[14:58] {thomcbell} in flavor and register
[14:58] {nemo} Well, his wife brought me some of his wines (he was a wine nut)
[14:59] {Threei}  well... yeah
[14:59] {nemo} So, during the power outage from the hurricane I was drinking them...nothing else to do
[14:59] {Threei}  crap
[14:59] {nemo} One of them was a 89 Gewurztraminer from a Maryland Vineyard
[14:59] {Threei}  and we sat here feeling sorry for you
[14:59] {dino} no genorater?
06[15:00] * Threei unsorries those two after-hurricane day
[15:00] {nemo} I'm sitting there when I realized...no generator...I was with him visiting the vineyard on the day he bought that wine...so, I'm saving the bottle...great guy...brilliant man
[15:02] {Threei}  reminds me... I need t put away one nice bottle for the day of the big earthquake
[15:02] {Threei}  which they say is coming to the town near me
[15:02] {nemo} December 21, 2012
[15:02] {nemo} I have inside information the Yellowstone Caldera is going to erupt
[15:03] {RonS} iceland more likely...
[15:03] {Threei}  that one will put an end to it
[15:03] {nemo} that's going to sink
[15:03] {nemo} Watch, just our luck, France will survive
[15:04] {Threei}  no market crashes anymore if yellowstone goes off
[15:04] {nemo} No, nothing anymore
[15:04] {Threei}  ok, retest of the low is coming
[15:04] {Threei}  really can't tell whether we make new lows on hold around these levels
[15:05] {Threei}  my personal incination is, new lows
[15:05] {nemo} What'll really be a trip is we have a solar storm like the one in 1859...society ends that day
[15:05] {Threei}  but to call a trade on it here... tough
[15:05] {Threei}  we have two small stops
[15:05] {Threei}  many nice wins
[15:05] {Threei}  I consider today a perfect management of the crash
[15:07] {nemo} i'm getting long signals
[15:08] {RonS} ...from bunny?
[15:08] {nemo} silly...the voices in my head
[15:08] {dino} rht sm l .80
[15:08] {nemo} Bunny is AWOL today
[15:08] {nemo} bitch
[15:08] {nemo} can't get rid of her when she wants tortilla chips though
[15:10] {nemo} whoa...looks like the voices were right
[15:11] {nemo} bumper sticker I saw once:  The voices in my head told me to stay home from work and clean my guns
[15:11] {dino} out rht .10, +.30
[15:11] {RonS} gj
[15:11] {dino} t6y
[15:11] {dino} ty
[15:15] {dino} we are down 900+ pts since tuesdays high
[15:17] {nemo} oh oh, you feel a drop coming?
[15:17] {Threei}  I do
[15:17] {Threei}  for what a week already? :)
[15:17] {nemo} I mean, into the close
[15:18] {Threei}  I do
[15:18] {dino} dk
[15:18] {Threei}  kind of: not strognly enough to play short, but enough to stay away from long
[15:19] {nemo} http://www.autoblog.com/2011/09/21/gms-onstar-now-spying-on-your-car-for-profit-even-after-you-uns/
[15:21] {dino} out ssys -.03
[15:33] {nemo} we bottomed at S2 weekly
[15:39] {Threei}  yeah but did we bottom?
[15:40] {nemo} no, little bounce tomorrow, lower into weekend, rally next week
[15:41] {nemo} IMO OALA EHO ATAS
[15:42] {Threei}  new low is comiong'
[15:42] {Threei}  believe it or not
[15:42] {thomcbell} rht a beast
[15:44] {Threei}  not today of course
[15:44] {Threei}  but the look of things is not really "selling is exhausted"
[15:47] {dino} gap down open tomorrow then finish up 100
[15:47] {dino} gap down takes us to 1101
[15:49] {dino} hmm 150 pt rise
[15:49] {patience} just bought gis, agu, pot, mos,eca, su, fts, gdx, hgu, slw in long term account
[15:49] {dino} news?
[15:49] {Threei}  nope
[15:49] {Threei}  just some short covering I presume
[15:49] {nemo} short covering..bird in hand two in bush
[15:50] {dino} patience, i like the thinking
[15:50] {patience} dividends and long term trends   :)
[15:59] {Threei}  thank you all, grat day
[15:59] {Threei}  great too
[15:59] {Threei}  have a good evening, see you tmorrow
[15:59] {larisa} bye :)
[16:00] {dino} gn

Sep 21 2011

(Participation in the room in real time requires membership)

Who said FOMC days are not good for trading? Beautiful day with just one stop, and quite a few nice trades, including couple beauties on TZA. Do read the log to track those trades; as far as charts are concerned let me post an update for the SVM swing trade. As you see from updated chart below, a trade triggered at 7.25 today, confirming double bottom. Volume looks decent as well. What concerns me though is general market climate - end of day selling hit SVM based on general market selloff. So, we are in a situation where on its own, SVM looks ready to go up in positive or neutral market; whether it's capable of holding in negative or crashing one, remains to be seen.

Session Time: Wed Sep 21 00:00:00 2011
[09:14] {dino} gm all
[09:14] {Threei}  dino :)
[09:14] {nemo} for you dino:  http://bostonherald.com/blogs/sports/rap_sheet/?p=14158&srvc=home&position=recent
[09:14] {nemo} piece of work that boy
[09:15] {ese} gm
[09:16] {Threei}  ese :)
[09:17] {Threei}  ese, meant to show you a stock you may want to monitor
[09:17] {Threei}  look at FITB daily
[09:18] {ese} theres a blast from the past
[09:18] {Threei}  thought you'd recognize it :)
[09:18] {Threei}  announced didvidend increase yesterday
[09:19] {ese} pretty solid base....and dividend to bot
[09:19] {ese} boot
[09:19] {Threei}  daiuly to me looks like 10.80 - 11 zone breakout for long play
[09:19] {ese} me as well
[09:19] {dino} that rex is a piece of work
[09:19] {Threei}  just make sure Europe doesn't collapse, lol
[09:20] {Threei}  that'll put a kibosh on financial stocks
[09:21] {ese} Greeks were talkin yesterday...finally something happening...German economists say double dip recession not likely in Germany.....things are lookin up
[09:21] {dino} i/m not as confident as you
[09:21] {ese} Greeks won't default looks like
[09:21] {Threei}  I really doubt that optimistic view
[09:22] {dino} gut says they must
[09:22] {nemo} define default
[09:22] {Threei}  they are trying to keep brave face
[09:22] {nemo} they'll just dress it up and call it something else...like leaving the euro
[09:22] {ese} it's "de" "fault" of the Greeks
[09:22] {Threei}  math just doesn't work, ese
[09:23] {Threei}  Greece can't repay debt, no matter what
[09:23] {Threei}  and look at Italy CDS spread, to see how much realism is under that optimism
[09:23] {ese} anyway.....articles in "Marketwatch.com" yesterday....
[09:24] {Threei}  http://www.cnbc.com/id/38451750
[09:25] {ese} link not working
[09:26] {Threei}  works for me...
[09:27] {Threei}  anyway, Italy 5-yr is at 513
[09:27] {dino} ok now that we have broken ese' optimism, back to work
[09:27] {Threei}  this is borderline "point of no return" IMO
[09:27] {ese} lol
[09:27] {Threei}  FCX is on watch as short candidate
[09:28] {ese} link working now
[09:28] {Threei}  remember the opening volatility
[09:28] {larisa} gm :)
[09:28] {Threei}  larisa :)
[09:29] {Threei}  from the look of things, morning spike can take it into .40 - .50 territory where it's bound to be a short
[09:29] {Threei}  if it breaks down instead, let's wait
[09:30] {Threei}  total breakdown
[09:31] {Threei}  becomes bounce candidate
[09:31] {Threei}  half lot
[09:31] {Threei} Long Setup:  FCX  .30 break
[09:31] {Threei}  stop under .15
[09:32] {Threei}  in
[09:32] {nemo} you can have it
[09:32] {Threei}  ty
[09:32] {Threei}  not ready yet, out
[09:33] {patience} ty fcx vad, haven't even had first cup of coffee yet, amazing
[09:33] {ese} L orcl .50
[09:34] {Threei}  .15 break second try
[09:34] {ese} sm
[09:34] {Threei}  if holding 37
[09:34] {Threei}  half lot!
[09:34] {Threei}  target .60
[09:34] {Threei}  half out
[09:34] {Threei}  stop to .10
[09:36] {ese} L orcl avg .42
[09:37] {Threei}  stop to .25
[09:38] {Threei}  out second half
[09:38] {nemo} you see that buy on the offer go buy at .35?
[09:38] {Threei}  +.23 and .10
[09:38] {nemo} 1275 lots
[09:39] {ese} stopped orcl .21-.22
[09:39] {ese} knew i shoulda waited
[09:39] {Threei}  bought into sharp spike, ese...
[09:40] {ese} ya
[09:40] {Threei}  ORCL is a very heavy stock, not really a momo that can easily continue after spikes
[09:41] {ese} not something i do normally ......thought taht with the earnings report it had 31 in it
[09:41] {Threei}  (US) Preview: Aug Existing Home Sales due out at 10:00ET
[09:41] {Threei}  **Consensus expectation: 4.75Me v 4.67M prior
[09:41] {Threei}  it very well may but not in one gasp
[09:41] {ese} agreed
[09:43] {Threei} Short Setup: FCX  .20 break if stays under .30
[09:44] {Threei}  half out
[09:45] {ese} L orcl .25
[09:45] {Threei}  should lose 37 now
[09:45] {Threei}  stop to .25 for the balance
[09:47] {Threei}  ok FCX
[09:47] {Threei}  let's do it
[09:47] {Threei}  'cause you know... bees do it
[09:49] {Threei}  good boy
[09:50] {Threei}  1/4 more out
[09:50] {Threei}  stop to .21
[09:52] {Threei}  grrrrr
[09:52] {Threei}  targeted RIMM short on .25 break
[09:52] {Threei}  and missed it because of FCX bresakdown at the same moment
[09:54] {Threei}  let's trail last piece to .16
[09:55] {ese} out orcl 1/2  .35 +.10
[09:55] {ese} balance to .26
[09:56] {patience} in slw
[09:58] {Threei}  numbers are coming
[09:59] {dino} titn sm l .00
[09:59] {ese} orcl stopped balance .26
[10:00] {dino} cyou sm l .90
[10:00] {ese} hmmm shoulda rang the register at .40 would have been a nice day
[10:00] {Threei}  decent number
[10:00] {dino} gpc sm l .11
[10:00] {Threei}  *(US) AUG EXISTING HOME SALES: 5.03M V 4.75ME
[10:01] {Threei}  closed FCX
[10:02] {dino} ssys sm l .00 thinny
[10:09] {Threei}  watching LVS
[10:10] {ese} L orcl .23
[10:11] {Threei}  FCX, did you have to shake out last portion before continuing down?
[10:11] {nemo} it traded to vwap and dropped
[10:11] {Threei}  I overtightened stop?
[10:12] {nemo} guess I should have opened my mouth, I saw VWAP up there, and that's a magnet for price action
[10:12] {ese} out 1/2 orcl .30 +.07
[10:12] {nemo} couldn't figure out how to work it into an insult
[10:12] {Threei}  ahhh
[10:12] {ese} balance stopped .24
[10:13] {Threei} Long Setup:  FCX  .50 break
[10:13] {Threei}  if stays above .40
[10:13] {Threei}  oops
[10:13] {Threei}  sorry, confused symbols
[10:13] {Threei}  LVS
[10:13] {dino} fcx, cat, joyg, ilmn, major blood two days
[10:13] {Threei}  invalidated anyway
[10:14] {Threei}  bond market prices Greece default probability at 96%
[10:15] {dino} ilmn sm l .50
[10:16] {Threei} Long Setup:  LVS  .50 break if holding .40
[10:16] {Threei}  FCX, what a bottmoless pit
[10:16] {Threei}  LVS, target 1:3
[10:16] {Threei}  standard procedure
[10:16] {ese} specially fcx dino
[10:16] {ese} with a gap dn no less
[10:17] {ese} sorry 2 gaps dn
[10:17] {ese} have that on my screen
[10:17] {ese} got a plan for those
[10:18] {Threei}  1:1
[10:18] {dino} understand
[10:19] {ese} lol
[10:22] {Threei}  probably time for FCX bounce
[10:24] {Threei}  got away... thought of .50 break but happened a bit too fast
[10:24] {Threei}  let's see if oulls back for entry
[10:24] {Threei}  OK
[10:24] {Threei}  drop under .50,
[10:24] {Threei}  holding above .40,
[10:24] {Threei}  .50 recross
[10:24] {Threei}  that would be my long setup from here
[10:26] {Threei}  here we go
[10:27] {Threei}  invalidated
[10:30] {dino} ssys stop -.33
[10:30] {dino} ilmn stop -.33
[10:31] {Threei}  oil inventories...
[10:31] {Threei}  *DOE CRUDE: -7.33M V -1ME; GASOLINE: +3.3M V +1ME; DISTILLATE: -875K V +1ME; UTILIZATION: 88.3% V 86.6%E
[10:31] {Threei}  USO through the roof
[10:31] {Threei}  lunacy
[10:32] {dino} joyg -8 in two days
[10:32] {nemo} bfd crude down, OPEC cuts forcast last week, refineries have switched over to producing heating oil and gas way up...too frickin' funny
[10:33] {Threei}  no kidding
[10:33] {Threei}  reaction to these weekly numbers is one of the most meaningless I see in the markets
[10:33] {nemo} have a feeling it's a Wile E. Coyote moment and will retrace
[10:33] {nemo} not to those making money on it
[10:33] {Threei}  or least meaningful?
[10:36] {Threei}  FCX doesn't follow market down anymore
[10:37] {Threei}  not ready to jump in, but watching carefully
[10:37] {nemo} tired from dropping for four days...cant keep up
[10:37] {patience} in long fcx
[10:37] {Threei}  hehe
[10:37] {Threei}  why rush
[10:37] {Threei}  no clear signal yet
[10:37] {patience} no kidding
[10:39] {dino} joyg sm l .90
[10:40] {ese} L orcl .20
[10:44] {ese} out 1/2 orcl .40 +.20
[10:45] {Threei}  missed another LVS setup
[10:45] {dino} gj
[10:46] {Threei}  .30 break.. see tose two dojis?
[10:46] {ese} out balance .49 +.29
[10:46] {ese} orcl
[10:46] {ese} tks dino
[10:46] {ese} that was a crap load of shs
[10:47] {ese} haven't done that for a bit
[10:48] {nemo} rrc
[10:48] {dino} t/o chatter
[10:49] {Threei}  ok, let's try to get LVS this time
[10:51] {ese} am outta here....have a great rest of the day.....
[10:51] {Threei}  one more leg down, consolidation between .10 and .20 and cross
[10:51] {patience} bye ese
[10:51] {Threei}  take care ese, gj
[10:51] {ese} cya vad patience
[10:51] {dino} cya ese
[10:51] {ese} dino
[10:51] {nemo} spy if doesn't hold .45 going to .20 area
[10:52] {nemo} this also spy premarket low
[10:53] {dino} ndx filled open gap
[10:56] {nemo} pre market low for IWM might get some tail wagging the dog here
[10:57] {Threei} Long Setup:  LVS  .20 break if holding .10
[10:58] {patience} ok, who thinks the fed will open up their discount window wide today and lend money to banks at very favourable terms?
[10:59] {Threei}  1:1
[10:59] {nemo} how much more favorable can it get
[11:00] {dino} window is open
[11:00] {Threei}  1:2
[11:00] {Threei}  1:3
[11:00] {dino} gj
[11:00] {Threei}  ty
[11:00] {Threei}  we had what, 1 stop today?
[11:00] {patience} it is, but narrow elegibility gets loosened?
[11:01] {Threei}  the rest worked like charm?
[11:02] {dino} we are already flooding the euro block w/$. but yes i think twist happens, going loner term to lower long term rates
[11:08] {Threei}  midday update:
[11:08] {Threei}  The FOMC rate decision will arrive mid afternoon and investors are debating the chances that Helicopter Ben will greenlight Operation Twist. In Europe, equity markets are at their lows as traders worry about the banking system. Earlier this morning, Greece Finance Minister Venizelos warned that there is a danger that reform program might fail and Lloyd's of London said it had decided to pull peripheral euro bank deposits.
[11:09] {Threei}  Note that the August existing home sales hit their highest rate since early 2009, however analysts agree that the slightly better numbers were driven by a sudden jump in foreclosure and resale activity. Treasury markets are trending higher as money comes out of stocks and the US 10-year yield has slipped back toward 1.9%.
[11:09] {Threei}  I dunno where ese finds that optimism...
[11:10] {dino} nor i
[11:10] {Threei}  Overall the greenback remained range bound ahead of the FOMC decision later today. Dealers suspect the dollar could weaken further if the Fed announces any new QE measures. EUR/USD recovered from session lows during the New York morning aided by speculation that the French government might take measures to restore confidence in its banking sector coupled with ECB widening the range of debt instruments accepted as collateral.
[11:11] {Threei}  Dealers did note that the ECB action on collateral actually lowered its quality control. The market still awaiting Greece to outline its austerity measures negotiated with the Troika in recent days
[11:17] {Threei}  wow LVS
[11:17] {nemo} hpq
[11:17] {Threei}  how come I never forget last couple hundred shares
[11:18] {RonS} may be leo out at hpq
[11:19] {RonS} Bloomberg confirms boards wants CEO out $HPQ
[11:19] {Threei}  Hewlett-Packard Co Board evaluating firing CEO Apotheker in favor of Whitman as successor - financial press
[11:20] {Threei}  and this sends a stock up a dollar?
[11:20] {Threei}  and half
[11:29] {Threei}  SVM
[11:30] {Threei}  who saw a chart for a swing trade a few days ago, see it breaking out
[11:30] {Threei}  I posted quick update on facebook, will add after close
[11:30] {dino} ilmn sm l .00 wide
[11:38] {Threei}  White House said to have informed Congress of planned $5.3B upgrade of Taiwan's existing fleet of F-16 fighter jets
[11:38] {Threei}  - Northrop Grumman and Raytheon are said to be expected to compete to build new radar systems for Taiwan's F-16s.
[11:38] {Threei}  sigh
[11:47] {RonS} ilmn brightly burning...
[11:47] {nemo} wow....
[11:50] {dino} kicked me in the azz
[11:56] {nemo} see the link I posted for you this morning Dino?
[11:57] {dino} on rex? yes
[11:57] {nemo} I like the guy
[11:57] {dino} me too, he fits ny market
[11:58] {nemo} cracks me up, foot fetish, cries watching chick flicks...
[11:58] {nemo} He'd be alot of fun to drink with
[11:58] {dino} indeed, lol
[12:08] {patience} out fcx, nice run  +.71
[12:09] {Threei}  gj
[12:09] {patience} connection went down during trade, i hate that
[12:09] {Threei}  look at LVS chart and see where we got it long
[12:09] {Threei}  pretty much near the low of the day
[12:11] {dino} market stuck in range
[12:15] {dino} wow ilmn what a rinse job
[12:22] {dino} sm l ilmn .00, last try
[12:27] {Threei}  Moody BAC downgrade
[12:27] {Threei}  kills the market
[12:29] {Threei}  nice jub Buffet
[12:29] {Threei}  job
[12:30] {RonS} qotd:  why should i care about a buffet tax. i never eat at one.
[12:31] {Threei}  lol
[12:31] {dino} lol
[12:36] {dino} bac preferred getting hit
[12:39] {nemo} I find the coincidence between the downgrade and BennieB intriguing
[12:40] {Threei}  think setting up the scene for Fed action?
[12:40] {nemo} whack the longs, come in and buy
[12:42] {patience} out of anv.to    i forgot how wingy some of these stocks can be to trade....too much work    +.62
[12:48] {nemo} hpq again
[12:48] {Threei}  reconsiders spin-off of PC business
[12:52] {patience} sold everything but POT
[12:52] {patience} excellent day...will sit and wait
[12:58] {Threei}  Moody's cuts WFC
[12:58] {Threei}  and C
[12:58] {Threei}  they are on the roll today
[12:59] {Threei}  a roll?
[12:59] {Threei}  just roll?
[12:59] {Threei}  why do you english speakers need those a and the, no idea
[13:00] {RonS} freakin a, eh?
[13:00] {Threei}  the freakin a
[13:02] {dino} ahole, lol
[13:05] {dino} giddy-up
[13:19] {dino} joyg to .84
[13:24] {dino} out .96, +1.06
[13:25] {RonS} gj
[13:25] {patience} very nice
[13:26] {Threei}  great one
[13:26] {dino} ty took hours
[13:26] {patience} very patient  :)
[13:27] {dino} ;)
[13:28] {Threei}  Coolest searching device ever? Your toe! Always able to, somehow, find furniture even when it is pitch black
[13:29] {dino} yeah, been there
[13:32] {Threei}  so, 74% of ecinomists expect operation Twist, 61 says it won't work
[13:33] {Threei}  the rest 39 are clueless I guess
[13:54] {Threei}  total stall
[13:55] {patience} what time do we hear anything?
[13:56] {dino}  2:15
[13:56] {patience} ty
[14:00] {nemo} regn
[14:01] {dino} regn spike
[14:02] {nemo} dino...look above
[14:02] {dino} ilmn out .30, +.30
[14:02] {Threei}  halt
[14:02] {nemo} that sucks
[14:02] {patience} nice day for you dino
[14:02] {dino} average, had few stops earlier
[14:05] {nemo} indexes look like they're setting up for screaming longs
[14:07] {Threei}  here is summary for expectations:
[14:07] {Threei}  http://caracommunity.com/content/bill-caras-blog-sep-21-2011#comment-95641
[14:07] {Threei}  too long to paste it all here
[14:07] {dino} va drops avastin
[14:08] {Threei}  passive twist, active twist... as if all these monetary tweaks really can change the ways of economy
[14:08] {Threei}  more they tweak, worse it gets
[14:08] {Threei}  get the ^%#* out of the way
[14:09] {dino} john galt i presume
[14:09] {Threei}  :)
[14:10] {nemo} it's between a rock and a hard place...they get out of the way, and it's gonna' get rocky sooner, they don't get out of the way, it get's rocky a little later
[14:10] {Threei}  but there is a difference in the degree of rockiness
[14:10] {Threei}  the later it comes the rockier it gets
[14:10] {nemo} I don't think so...I think sooner or lated serious civil unrest
[14:11] {dino} they stretch it out to save themselves, not do what is needed
[14:11] {nemo} I don't think it can be avoided
[14:11] {patience} bought td bank
[14:13] {RonS} regn 7 mil sh short...lit up...
[14:13] {dino} right now they are fighting over who pays for lunch
[14:17] {Threei}  fashinably late?
[14:17] {Threei}  +o
[14:20] {RonS} who does the clam think he is?...O?
[14:20] {Threei}  lol
[14:20] {RonS} soory...0
[14:22] {Threei}  potato, potatoe
[14:23] {dino} out
[14:23] {dino} 07 green
[14:23] {Threei}  ok
[14:23] {Threei}  here it comes
[14:24] {dino} now red
[14:24] {RonS} twisted sister
[14:25] {Threei}  active twist
[14:25] {Threei}  market says eeeeck
[14:25] {RonS} chubby checker to head operation...
[14:25] {dino} what'd he do?
[14:26] {Threei}  Fed to buy $400B in long term treasuries (6-30 year range) by end of June 2012
[14:28] {RonS} copper tanked
[14:28] {dino} pru sm l .79
[14:29] {RonS} wow, three dissenters
[14:30] {dino} re-liquify
[14:44] {dino} meli sm l .10
[14:49] {Threei} Long Setup:  TZA  .35 break
[14:49] {Threei}  half lot
[14:49] {Threei}  invalidated
[14:50] {Threei}  .20 break
[14:53] {nemo} spy likely going for .20, look for tza there
[14:55] {Threei}  half out
[14:55] {Threei}  stop to .15
[14:56] {Threei}  out in full
[14:56] {Threei}  +.40
[14:59] {patience} nice
[15:00] {dino} gj
[15:00] {Threei}  ty
[15:05] {dino} out meli .15, +1.05
[15:16] {Threei}  nice!
[15:17] {dino} ty
[15:17] {patience} very nice
[15:21] {dino} ty
[15:29] {Threei}  so... last plunge is coming?
[15:29] {patience} i'm lost here, can't tell
[15:29] {Threei}  half lot long TZA .90
[15:29] {Threei}  if stays abovce .75
[15:30] {dino} gut says up
[15:30] {Threei}  valid still
[15:31] {Threei}  in
[15:32] {Threei}  half out
[15:32] {Threei}  stop to .85
[15:34] {Threei}  I don't remember having such a nice day on FOMC date
[15:34] {patience} i agree
[15:34] {dino} lod
[15:34] {Threei}  boom TZA
[15:34] {dino} whippy
[15:35] {dino} 11246 gap filled
[15:35] {Threei}  out +.60
[15:36] {dino} nice
[15:38] {dino} hmmm so far you are right, plunge
[15:39] {Threei}  panic
[15:39] {Threei}  crash
06[15:39] * Threei slants at larisa
[15:40] {Threei}  -(IT) Italy confirms FY11 GDP target cut to 0.7% from 1.1%
[15:55] {Threei}  what an ugly end
[15:56] {patience} should be interesting overnight trading
[15:56] {Threei}  ok guys, I believe we handled today beautifully
[15:56] {patience} ty vad
[15:56] {Threei}  have a great evening, see you tomorrow
[15:57] {dino} cya
[15:57] {larisa} bye :)