Jun 24 2010

Today's "catch of the day" chart is one of my favorite setups, ideal way to play double bottom. While chart annotations will give you all the visuals, let me list the necessary components that make odds very high on this kind of setup:
1. First bottom is set on higher volume and pierces lower Bollinger Band;
2. Second volume has lower volume and is contained within Bollinger Bands
3. Distance between the bottom price and peak between the bottoms is tight enough to give a comfortable stop.

Session Time: Thu Jun 24 00:00:00 2010
[08:29] {hawk} good morning idlers
[08:29] {Threei}  what did you call us?
[08:30] {hawk} now you're off the idlers list :)
[08:30] {Threei}  that was easy
[08:31] {Threei}  getting off nemo's disgruntled postal worker list is not that simple
[08:32] {hawk} lol, i'm just trying to stay off it
[08:32] {Threei}  we all are... but sooner or later you are bound to get on it
[08:33] {Threei}  and once you are in, it's a Hotel California
[08:34] {Threei}  (US) MAY DURABLE GOODS ORDERS: -1.1% V -1.4%E; DURABLES EX-TRANSPORTATION: 0.9% V 1.0%
[08:34] {Threei}  US) INITIAL JOBLESS CLAIMS: 457K V 463KE; CONTINUING CLAIMS: 4.548M V 4.55ME
[08:35] {Threei}  sheesh LTBR
[08:37] {hawk} wow
[08:38] {Les} lol that's an understatement
[08:40] {Les} guess I'll be looking for a short there today
[08:40] {Les} afternoon all
[08:40] {Threei}  is it onshort list for you?
[08:40] {Threei}  hi
[08:40] {Threei}  not here
[08:40] {Les} how do I see short list?
[08:41] {Threei}  test order, way above the market
[08:41] {Les} well if it's not shortable for real players, I'll leave it alone
[08:41] {Les} otherwise I'm just fooling myself
[08:44] {hawk} Vad, which ecn do you route thru?
[08:44] {Threei}  NASDAQ most often
[08:45] {Threei}  on NASDAQ stocks it will be default, on NYSE smart route can go to MLCO sometimes, so I switch to NASDAQ to avoid it
[08:45] {Threei}  not that it's bad, but can be just a tad slower
[08:47] {hawk} Ok, thanks.  I've been using all Island
[08:48] {Threei}  that'll work
[08:49] {hawk} yeah, seems to work fine, just wondered if there was a super secret method
[08:50] {Threei}  there is a "enter winning trades only" route
[08:50] {Threei}  but you get access to it only after 100,000 trades
[08:50] {hawk} if only
[08:50] {hawk} lol
[08:50] {hawk} so in another 2 weeks i should qualify
[08:51] {Threei}  you can speed up the process by buying and selling 1 shares of C all day
[08:55] {magoo} morn
[08:55] {Threei}  mags :)
[08:55] {nemo} haroo
[08:57] {dptl} morning
[08:57] {Threei}  dp :)
06[08:57] * nemo slaps Les around a bit with a large bottle of vodka
[08:58] {Les} ha! funny you should mention that!
[08:58] {Les} I found grey goose in the local shop this morning. got me a bottle
[08:58] {nemo} good stuff
[08:59] {Les} yeh no peasant swill. what are you doing drinking that?
[08:59] {nemo} am I supposed to laugh?
[09:00] {Les} :(
[09:00] {Threei}  (IR) IMF: IReland must go on with budget cuts in order to retain credibility
[09:03] {Les} wondering if affy can get a lift today
[09:04] {larisa} gm :)
[09:05] {Threei}  larisa :)
[09:05] {larisa} vad :)
[09:09] {RonS} gm  :O
[09:09] {Threei}  Ron :)
[09:11] {nemo} anything on the radar
[09:13] {Threei}  ummm
[09:13] {Threei}  LTBR?
[09:13] {nemo} bidu looks like it might be active also
[09:15] {Les} obama at it again:
[09:15] {Les} http://miburl.com/1RuE0O
[09:16] {dino} gm all
[09:16] {Threei}  dino :)
[09:17] {dino} q? do all of you trade from home?
[09:17] {nemo} y
[09:17] {hawk} y
[09:17] {Les} why? you wanna swap?
[09:17] {RonS} y
[09:17] {Les} I'll give you two kids
[09:17] {Les} you give me your office
[09:19] {Les} short answer - yes
[09:19] {dino} lol, thx
[09:20] {dino} back to business, imo watch the gaps 6/14 10190, 1845; 6/9 9899, 1778, 1055
[09:21] {Threei}  that's another disaster in the making, les
[09:21] {Les} well he can try and house the old vets...
[09:21] {Les} but what about the new ones he's creating?
[09:22] {shorty} morning
[09:22] {Threei}  shorty :)
[09:23] {larisa} empty houses in Detroit can satisfy all homeless in US
[09:23] {magoo} vad...i said 10 yester on it, but i meant yester
[09:23] {Les} good point lari
[09:24] {lasertrev} les dcc
[09:25] {Threei}  there is always 1998 somewhere, eh mags :)
[09:25] {lasertrev} good morning
[09:26] {dino} lol larisa
[09:28] {Threei}  trev :)
[09:31] {Threei}  watching RIG for bounce
[09:31] {Threei}  one more leg down most likely
[09:31] {Threei}  half lot, morning volatility
[09:32] {Threei}  .20 break
[09:32] {Threei}  not yet
[09:32] {nemo} pivot support at .13 didn't hold
[09:32] {Threei}  one more dive
[09:32] {Threei}  OK, should be ready now
[09:33] {magoo} in .07
[09:34] {Threei}  stop under .90 of course
[09:35] {magoo} rimm spiking
[09:35] {Threei}  LVS, pullback to 27 for entry
[09:37] {Les} 1st live trade went without a hitch. out rig +.09
[09:37] {magoo} must confess took ltbr .40
[09:38] {Threei}  congratulations Les
[09:38] {dino} gj les
[09:38] {Threei}  how's execution speed?
[09:38] {nemo} rimm drop
[09:39] {Les} will let you know. went a bit too fast to record my observations
[09:39] {nemo} hehehehe
[09:39] {Threei}  rofl
[09:39] {nemo} rimm bounce yep
[09:39] {Les} which probably means damn fine execution speed
[09:39] {nemo} damn
[09:39] {Threei}  come on LVS, one more leg down
[09:40] {Threei}  targeting 26.90 as zone of interest
[09:41] {Les} while not breaking .80?
[09:41] {Threei}  that would be ideal setup, yes
[09:42] {Threei} Short Setup: HAL  .50 break
[09:43] {nemo} stop above .65?
[09:43] {Threei}  depends on where it tops on this bounce
[09:43] {Les} apc dropping hard
[09:43] {nemo} looking at 9:32 candle
[09:44] {Threei}  maybe aggressive entry
[09:44] {Threei}  with stop above .65
[09:44] {Threei}  .60 break
[09:44] {Threei}  stop is ridiculously small
[09:46] {Threei}  DNDN Ticking higher after Humana confirms coverage of Provenge
[09:46] {Threei}  - Note: Aetna announced coverage in their plans on 6/22 (35.02, -0.11, -0.31%) (related AET )
[09:47] {dino} sm l esi .51
[09:47] {Threei}  no go HAL
[09:48] {Threei}  DNDN is reacting
[09:48] {Threei}  not too hot
[09:48] {jfjf64} lvs
[09:48] {nemo} fas bottom?
[09:48] {jfjf64} pullbk
[09:49] {Threei}  FAS, doesn't look like that
[09:49] {Threei}  LVS
[09:49] {Threei}  sharp drop
[09:50] {Threei}  BUNDS (GR) Greece 5-year Credit Default Swaps move above the 1,000bps level for fresh all-time highs - dealers
[09:50] {Threei}  one more LVS
[09:50] {nemo} spy weak
[09:50] {nemo} lvs maybe bounce .90
[09:52] {Threei}  if anyone took 27, just a scalp
[09:52] {Threei}  don't hang around too long
[09:52] {Threei}  this selling feels like picking up steam
[09:53] {bellowsbunch} morning.
[09:53] {Threei}  morning
[09:53] {Threei}  FAS
[09:53] {Les} hey bellow
[09:53] {nemo} cat short?
[09:54] {Threei}  one more move back to .60,
[09:54] {nemo} faz break .77?
[09:54] {bellowsbunch} anything happenin
[09:54] {Threei}  and if holding it, entry hunt is on
[09:54] {Threei}  ok, here it is
[09:54] {Threei}  .65 cross
[09:54] {Threei}  nemo.. .77??
[09:54] {nemo} faz
[09:54] {Threei}  whatcha talkin' about
[09:54] {Threei}  oh
[09:55] {Threei}  no
[09:55] {nemo} well, if fas fails, faz goes
[09:55] {nemo} bingo
[09:55] {Threei}  really?
[09:55] {Threei}  lol
[09:55] {nemo} yep
[09:55] {nemo} that's how it works
[09:55] {nemo} birdie told me
[09:55] {Threei}  thank you
[09:55] {nemo} np
[09:55] {nemo} de nada
[09:55] {nemo} pleasure is mine
[09:55] {Threei}  I will have to pondeer that infinite wisdom this evening
[09:56] {nemo} faz 1:1
[09:56] {nemo} yesss
[09:56] {Les} tried shorting fas.59 no go
[09:56] {dino} out esi .87, +.36
[09:56] {nemo} after how many bottles Vad?
[09:56] {bellowsbunch} gotta be some trade somewhere w market tank
[09:56] {dino} watching whr, ful
[09:56] {nemo} missed that cat short, bummer
[09:57] {nemo} yeah, just grabbed faz bb
[09:57] {nemo} looked away from cat breaking below .40
[09:57] {nemo} so yeah, there are trades
[09:57] {bellowsbunch} faz
[09:57] {bellowsbunch} ?
[09:57] {nemo} triple inverted financials
[09:58] {Les} watching TZA for pullback to .25
[09:58] {Threei}  FAS
[09:58] {bellowsbunch} short?
[09:58] {dino} reminds me of te triple lindy
[09:58] {Threei}  .50 break long
[09:59] {nemo} oh, sold more faz
[09:59] {nemo} so,eh, breakeven for last quarter
[09:59] {dino} dji filled 6/14 gap
[09:59] {Threei}  (GE) Germany Chancellor Merkel: G20 unlikely to agree on a financial tax (related IXG XLF )
[09:59] {dino} good
[10:00] {Threei}  FAS half out over 1:1
[10:00] {Threei}  scalpers with bigger positions, feel free to exit in full
[10:00] {nemo} faz out remainder
[10:00] {Threei}  over 1:2
[10:00] {dino} whr hl l .60
[10:00] {Threei}  1:3, out
[10:01] {Threei}  HBC Spain now investigating approx 3K spanish accounts held in Swiss bank branch of HSBC - SF chronicle
[10:01] {nemo} damn...only got 1:2 on faz
[10:02] {Threei}  bellows, you got FAS?
[10:02] {nemo} turning into the energizer bunny
[10:02] {bellowsbunch} y
[10:02] {bellowsbunch} ty
[10:02] {Threei}  cool
[10:02] {Les} damn look at GS off .50
[10:02] {hawk} thx fas vad
[10:02] {Threei}  not bad move for 5 cebts risk
[10:02] {Threei}  cents
[10:04] {dino} whr to .99
[10:04] {Threei}  LVS worked on 27 recross once again, had no time to comment
[10:04] {Threei}  if anyone stayed with it and observed, could get it... I'd need couple more eyes
[10:05] {dino} ful hl l .06
[10:05] {Threei}  and I look like freak of nature with current three already
[10:05] {dino} i understand
[10:05] {Threei}  ty
[10:06] {dino} out whr .45, +.85
[10:07] {RonS} gj dino
[10:07] {dino} ty
[10:07] {dino} you get it
[10:07] {RonS} late, but got esi, txs
[10:07] {dino} gj
[10:07] {nemo} yeah, whr was up .20 by the time you posted
[10:07] {dino} hmm thought whr was pulling back, but i was wrong
[10:07] {RonS} dndn
[10:08] {nemo} jeez dino
[10:08] {dino} what?
[10:08] {nemo} being wrong like that
[10:08] {nemo} crissakes
[10:08] {dino} wrong alot lately nemo
[10:08] {nemo} I remember this time last year was a minefield for you
[10:08] {dino} but damn, left .50 on table
[10:09] {Threei}  DNDN nice move on news
[10:09] {RonS} that thing is gappy, forget about it...:)
[10:09] {Threei}  they rarely react like this these days, most news go ignored
[10:09] {dino} yes, ironically, in 08 it ws july, 09 june 10 may, so i guess in 11 april
[10:09] {nemo} rig might be bottoming here
[10:10] {nemo} so, go to NC and play golf next spring
[10:10] {dino} i am considering ot
[10:10] {dino} it
[10:11] {dino} ot; todays local paper, we had the earthquake tremors
[10:11] {nemo} they were felt in boston yesterday
[10:12] {Les} gs db?
[10:12] {dino} crazy
[10:12] {nemo} rig did move
[10:12] {Threei}  no Les
[10:13] {Threei}  it may bounce, but no play
[10:13] {nemo} fas coming in to DB territory
[10:15] {dino} fgffgfgfgfgfgfgfgfg f wins out ful .22, +.16
[10:15] {nemo} ?
[10:15] {dino} fear or greed
[10:15] {Threei}  lol
[10:16] {dino} hate to say it but 3 for 3
[10:16] {Threei}  truly disgusting
[10:16] {dino} luv the gap down opens
[10:16] {shorty}  lol dino
[10:16] {Threei}  I don't know how you manage to even think that, let alone say
[10:17] {dino} i should go home
[10:18] {dino} hmmm esi
[10:18] {Les} down a few bucks since I last played it.
[10:19] {dino} watching same 3, strange fdx ups
[10:19] {nemo} fas again
[10:20] {Threei} Long Setup:  BP  .80 break
[10:20] {dino} we arte going positive
[10:20] {nemo} thou arte crazy
[10:20] {dino} hl l dia .25
[10:20] {dino} perhaps
[10:21] {nemo} you'll have alot of company
[10:21] {dino} trannies green
[10:21] {Threei}  let's get it aggressively if pulls back to about .75
[10:23] {dino} fcx wants green
[10:23] {dino} clf hl l .50
[10:26] {dino} :D
[10:26] {nemo} yes fas...
[10:26] {Les} kicking myself dino
[10:27] {nemo} allow me
[10:27] {dino} for what?
[10:27] {Les} clf
[10:27] {dino} ahh
[10:27] {dino} played it off fcx
[10:27] {Les} what's the connection?
[10:28] {nemo} got it Dino?
[10:28] {dino} same industry
[10:28] {dino} metals/mining
[10:28] {Les} oh sorry thinking fdx
[10:28] {Les} trannie
[10:28] {RonS} fcx copper/gold...clf iron ingots
[10:28] {Les} ok
[10:28] {dino} no, i used the trannies for my general up call
[10:29] {RonS} copper pricing is the key...ingots follow
[10:29] {RonS} copper firm at $2.99/lb right now
[10:30] {Threei}  EIA NATURAL GAS INVENTORIES: +81 BCF VS. +75 TO +85 BCF ESTIMATE RANGE
[10:30] {RonS} esi blood
[10:30] {nemo} so we're drowning in oil and suffocating in gas, and the prices don't come down, go figure
[10:30] {Threei}  BP's useless
[10:31] {Threei}  US) Secretary Salazar would like to keep the drilling moratorium in place until safety is assured
[10:31] {hawk} in more ways than one
[10:31] {Threei}  lol
[10:31] {nemo} Let me get this straight
[10:31] {nemo} No other nation has suspended deep water drilling
[10:32] {Les} no I read that nth sea nations have imposed bans
[10:32] {nemo} We're helping Brazil drill 3x deeper and of course, you got the Brits in the North Sea, and they're pulling this maneuver...WTF
[10:32] {Les} norway I think
[10:32] {Les} not sure if it still stands though
[10:33] {nemo} so, you make a claim, and then say you don't know
[10:33] {nemo} nice
[10:33] {Les} piss off
[10:33] {nemo} Finally
[10:33] {nemo} I feel fulfilled
[10:33] {Threei}  LVS
[10:34] {Les} pivot support .74 lvs
[10:34] {nemo} and you have early support at .78-80
[10:34] {nemo} oh well
[10:35] {dino} out dia flat
[10:35] {nemo} .75 recross
[10:35] {nemo} lvs?
[10:35] {nemo} nope
[10:36] {Threei}  one more dive under .60
[10:36] {Threei}  then recross if holding .55
[10:36] {nemo} getting support here
[10:36] {Threei}  1:1
[10:36] {Threei}  1:2
[10:37] {Les} done ty
[10:37] {Threei}  1:3
[10:37] {Threei}  nice and easy
[10:38] {dino} gj
[10:38] {Threei}  ty
[10:40] {Threei}  btw guys, while I remember
[10:40] {Threei}  don't forget to review today's "catch of the dayt" trade,
[10:40] {dino} salmon
[10:40] {Threei}  it will be perfect illustration to the ideal way to play double bottom reversal
[10:41] {dino} whr
[10:41] {nemo} speaking of DB, LVS?
[10:41] {Threei}  salmon... you just reminded me to soak the cedar plank in water
[10:41] {dino} lol
[10:41] {Threei}  not yet, nemo
[10:41] {nemo} no
[10:43] {nemo} LVS to .39?
[10:45] {RonS} whr blood
[10:46] {dino} waiting watching
[10:46] {Les} aig read vad?
[10:46] {dino} gut says ndx gap fill then up
[10:46] {Threei}  none, inactive
[10:46] {Les} ok
[10:47] {bellowsbunch} bp
[10:47] {dino} ndx s/p -4.6% since monday
[10:47] {nemo} bp break of .45
[10:48] {nemo} ?
[10:48] {Les} weak sob BP
[10:49] {nemo} ohoh 1080 spy
[10:49] {Threei}  rather feels like short to me
[10:49] {nemo} green Dino
[10:49] {Threei}  although .70 break was the best play... didn't watch it at the moment
[10:50] {Les} GLD starting up
[10:50] {RonS} whr sm l .20
[10:51] {dino} days not over yet nemo
[10:51] {Les} faz .70 break?
[10:52] {Threei}  can't tell
[10:52] {Threei}  no clean setup
[10:52] {Les} ok. thinking of playing the range. but yeh not clean plays
[10:53] {nemo} RIMM short coming?
[10:53] {nemo} BP too?
[10:53] {Threei}  BP, I think so
[10:53] {nemo} RIMM broke
[10:53] {nemo} was thinking .90 break
[10:54] {Les} missed the break bp. nice call
[10:54] {RonS} whr out .80 -.40
[10:55] {Threei}  US Senators have reportedly refused mandate for banks to pay for FNM and FRE during reconciliation of FINREG legislation
[10:55] {Threei}  - Senate negotiators reject House proposal to start orderly liquidation of Fannie and Freddie
[10:55] {dino} whoosh coming
[10:55] {Les} spy has pivot support here
[10:55] {Threei}  I need translation for that
[10:56] {RonS} the senate and house are fighting
[10:56] {Les} liquidate fannie and freddie. sounds good but who takes the mortgages?
[10:56] {dino} wasn't expected to be approved 3i
[10:57] {RonS} everything has a price Les...
[10:57] {Threei}  this is something I missedc completely I guess, can't put it in any context
[10:57] {dino} sell them off les 50 cents on the buck, there are buyers. but politically its suicide
[10:58] {dino} over thinking 3i, bottom line, fnm fre default/closure admits they are wrong
[10:58] {Threei}  RIMM good call
[10:58] {magoo} rimm report tonite"?
[10:58] {nemo} bouncing right off pivot support at .73
[10:59] {Threei}  yes mags
[10:59] {dino} ful l .15\
[11:01] {nemo} frickin' RIMM shakes me out
[11:01] {dino} enron skilling overturns fraud conviction
[11:03] {Les} tza developing a  .05 rhythm which I just profited from. sticking to it
06[11:03] * Threei slaps Les around a bit with a large roll of cash
[11:05] {Les} ahhh no. real money means no 5k trades for the moment. no screw ups on 1st day = no big profits either
[11:06] {Threei}  wh went for BP, almost 1:2
[11:06] {dino} ndx filled gap
[11:06] {Threei}  who went for RIMM, talk to nemo
[11:07] {Threei}  USD/CNY White House: President Obama to discuss the Yuan with China president at the G20 meeting
[11:07] {nemo} 1:4
[11:07] {nemo} I called BP too
[11:07] {Threei}  OK{ it's all yours
[11:07] {Les} bp still going. cool
[11:07] {Threei}  I already booked that monastery
[11:07] {nemo} :)
[11:07] {nemo} You're going to a convent I thought?
[11:07] {dino} nemo's the man
[11:07] {Threei}  and no larisa, they look much better thanin that image you posted
[11:08] {dino} hl l whr .50
[11:08] {Threei}  now I am envisioning the discussion about USD/CNY between those two
[11:09] {dino} my advice to you vad, drink heavily
[11:09] {Threei}  {President Obama} CNY
[11:09] {Threei}  {President Hu} USD
[11:09] {Threei}  {President Obama} CNY?
[11:09] {Threei}  {President Hu} USD!
[11:09] {Threei}  {President Obama} CNY?!?!
[11:10] {Threei}  {President Hu} USD!!!!
[11:10] {Les} CNY - canadian dollar?
[11:10] {Les} :)
[11:10] {Threei}  EU) EU's Rehn: G20 expected to agree on growth promoting measures and fiscal consolidation
[11:12] {bellowsbunch} bp wow
[11:12] {Threei}  - The banking sector in Europe is stronger than is perceived, expecting Slovakia to enter the 'financial safety net' in the EU
[11:12] {Threei}  - The proposal from Canada on fiscal consolidation is not enough
[11:12] {Threei}  {Slovakia} huh?
[11:13] {dino} sm l itri .55
[11:13] {Threei}  Only 28% Say Shifting Workers to Government Health Insurance Plan is Good
[11:13] {Threei}  I guess it the same 28% that are steadily happy with US direction
[11:14] {Threei}  48% See Government Today As A Threat to Individual Rights
[11:14] {Threei}  the rest 52% just fell from the oak and still don't remember the date or day of the week
[11:14] {dino} they are the collectors
[11:15] {dino} giddy-up
[11:15] {RonS} ...they are the lawyers
[11:15] {Threei}  curious albeit expected breakdown:
[11:15] {Threei}  Most Republicans (74%) and unaffiliateds (51%) consider the government to be a threat to individual rights. Most Democrats (64%) regard the government as a protector of rights.
[11:16] {Les} this is make or break area for BP
[11:16] {lasertrev} magoo dcc
[11:16] {Les} loss of 29
[11:16] {shorty} Threei...CENX, c/h pattern?
[11:17] {nemo} might be short reentry on RImm here
[11:17] {Les} lol vad, talk about holding beliefs being dangerous to one's health
[11:18] {Les} can see dem supporters first to the chopping block when it all turns to &%it
[11:18] {Threei}  you mean inverted, shorty?
[11:19] {shorty} sorry...yes Threei
[11:19] {Threei}  yes, chart configuration wise,
[11:19] {shorty} I am short .10
[11:19] {Threei}  a bit too narrow for my taste
[11:20] {dino} out whr .01, +.51
[11:21] {shorty} If it does not break .03 or .00 get out?
[11:21] {Threei}  you went for aggressive entry,
[11:21] {Threei}  so use advantage of it:
[11:21] {shorty} yes
[11:21] {Threei}  cover half,
[11:21] {shorty} ok
[11:22] {Threei}  keep stop above .15 for now,
[11:22] {Threei}  worst case scenario you are flat,
[11:22] {Threei}  if loses low, move stop to b/e,
[11:22] {Threei}  watch for sharp move down after breakdown to cover
[11:23] {shorty} thanks for the coaching Threei.
[11:23] {Threei}  sure thing
[11:24] {bellowsbunch} rimm
[11:25] {nemo} break of .50 was the play
[11:25] {shorty} done.  that was fun
[11:26] {dino} gj
[11:26] {shorty} be back in 15....thanks
[11:27] {Les} reversal here? break of .50 fas?
[11:27] {nemo} ?
[11:27] {Les} market finding its footing?
[11:27] {Les} caught the wave?
[11:27] {Les} found the beat?
[11:28] {dino} out itri .94, +.39
[11:29] {dino} drop coming, imo
[11:29] {Les} gs read vad?
[11:29] {Threei}  .10 short is obvious setup...
[11:30] {Threei}  but we are moving into random time
[11:30] {Les} yeh ok
[11:30] {Threei}  GR) Greece's Capital Markets Comission confirms extension of short sale ban through to Aug 31
[11:34] {dino} whr hl l ave .65
[11:34] {bellowsbunch} long whr?
[11:35] {nemo} yep
[11:35] {dino} yes
[11:36] {dino} bellows, hl=half lot, l=long
[11:37] {bellowsbunch} ty
[11:37] {dino} np
[11:38] {dino} np=no problem
[11:40] {bellowsbunch} nice
[11:41] {dino} lucky
[11:44] {Les} thanks dino out whr +.22
[11:45] {dino} gj, greed got me, still in
[11:45] {dino} wanted .05
[11:45] {Les} 1st live trade with your call. me chickensh&%.
[11:46] {bellowsbunch} thx dino
[11:46] {dino} np
[11:48] {Threei}  (CA) Canada Fin Min Flaherty: G20 to discuss sovereign debt targets; some countries need 'urgen't fiscal consolidation
[11:48] {Threei}  - Highlights thate there is not specific targets for fiscal consolidation
[11:51] {dino} wall at .00
[11:53] {Threei}  (CH) US Senator Levin (D-MI): Commerce Dept should decide within the next few weeks on whether an investigation into Yuan is warrranted
[11:53] {Threei}  - Feels investigation should determine whether or not the Yuan is a trade subsidy
[11:53] {Threei}  - Note: Yesterday prepared comments from the Commerce Dept remarked as such, affirming their stance that they were evaluating whether the Yuan was in fact a trade subsidy
[11:55] {dino} fsys
[11:55] {bellowsbunch} lvs
[12:00] {Les} wow whr nice
[12:01] {dino} out whr .clf hl l .05
[12:01] {Threei}  US Judge refuses to grant a stay on District court ruling on blockage of original 6 month deepwater drilling moratoriuml
[12:01] {dino} out whr ave .42,
[12:01] {dino} whr
[12:01] {dino} +.77
[12:02] {Les} :( scalpers regret
[12:02] {dino} darn whr
[12:05] {magoo} oil news vad? drillers maybe?
[12:05] {dino} lol, obamination going to be pissed
[12:06] {hawk} posted above mags, drilling moratoriam news
[12:06] {magoo} ty
[12:07] {RonS} ...dino, note to self and you...play ctrp
[12:08] {dino} pulp type
[12:10] {dino} i was trading few weeks ago 37-39 range
[12:10] {dino} wanted it to come back
[12:10] {dino} holds well
[12:12] {RonS} ugh, talk about scalper's regret...esi
[12:12] {Les} beautiful chart
[12:12] {RonS} :s
[12:13] {Threei}  US Dollar v Russian Ruble (RU) Russia Dep Fin Min: Ruble strength is a problem for Russia, yet is inevitable if the price of oil increases
[12:13] {Threei}  - Highlights no imminent plans on capital controls, a Foreign Bond sale this year is a possibility
[12:13] {Threei}  - Notes that should use the Yuan, REAL, and Rupee as convertible in reserves
[12:13] {Threei}  real and rupee, eh
[12:13] {dino} wow esi 86-91
[12:13] {Threei}  try tougrik too while at it
[12:13] {RonS} For-Profit College Stocks Firm After Analyst Says Rule to Limit Aid May Be Delayed       06/11 12:05 PM
[12:13] {RonS} late w/ the news...
[12:19] {dino} out clf flat
[12:23] {dino} freaking clf
[12:32] {RonS} ...and now this...Japanese told to go to bed an hour early to cut carbon emissions
[12:32] {nemo} might increase methane emmissions though
[12:32] {hawk} lol
[12:32] {nemo} :)
[12:32] {Threei}  sigh
[12:32] {RonS} er, not going down that road...
[12:36] {dino} lol
[12:36] {dino} might increase population extra hour in bed
[12:36] {nemo} was just thinking that
[12:37] {patience} decrease in pharmaceudical sales for depression/anxiety meds
[12:38] {shorty} That reminds me patience.........
[12:40] {dino} uo oh
[12:40] {nemo} yeah, wondering where this is going myself
[12:42] {larisa} nowhere, shorty forgot to take his pill :)
[12:42] {nemo} SLB DB?
[12:43] {Threei}  50/50
[12:43] {dino} the purple one?
[12:43] {shorty} paxil.....
[12:43] {nemo} purple one...wrong app
[12:43] {shorty} no, rye is my pill...paxil is for my wife
[12:43] {nemo} well, that could alleviate depression
[12:44] {dino} re-test coming
[12:44] {nemo} I'm not sure what the big deal is if a condition lasts more than four hours
[12:44] {RonS} lol
[12:45] {RonS} ...and exactly waht would the doc do?
[12:46] {nemo} ?
[12:46] {larisa} show him the pucture of monastery girls
[12:46] {RonS} oh no...:D
[12:46] {nemo} go to Thailand?
[12:47] {magoo} rig bounce ready vad?
[12:48] {Threei}  no
[12:48] {dino} thats when you need to visit the head nurse
[12:48] {nemo} now there's one I'm not going to touch
[12:49] {RonS} one of my favorite bits on In Living Color...the head detective...
[12:51] {dino} fdx ups hold well still
[12:52] {Threei}  mags, RIG... if you want to try and catch bottom, watch for under 50, IMO
[12:52] {dino} fcx hl l .00
[12:56] {Threei}  crap
[12:57] {Threei}  who of you filks with all thse discussions just sent me an e-mail with subject line:
[12:57] {Threei}  Subject: Love Love pill Best Pharma!!!
[12:57] {lasertrev} sorry, that was me
[12:58] {dino} lol
[12:58] {Les} got a side business happening hey lt?
[12:58] {dptl} lol
[12:58] {lasertrev} lol:)
[12:59] {lasertrev} I want Vad as my spokesperson
[12:59] {larisa} he will call customers "filks"
[13:00] {Threei}  that will be my friendliest
[13:00] {lasertrev} lol, too funny
[13:00] {Threei}  normally I am nowhere that nice
[13:02] {Threei}  *(US) TREASURY'S $30B 7-YEAR NOTE AUCTION DRAWS 2.575%; BID-TO-COVER RATIO: 3.01 V 2.88 PRIOR AND 2.83 OVER THE LAST 5
[13:02] {Threei}  - Indirect bidders take 51% of competitive bids, with 65.7% allotted at the high
[13:02] {Threei}  - Direct bidders take 9.8%, primary dealers 39.2%
[13:02] {Threei}  - Median 2.53%, low 2.385%
[13:02] {shorty} BP
[13:03] {nemo} market reacted well to that
[13:10] {Threei} Long Setup:  SLB  .40 break
[13:10] {Threei}  half lot
[13:11] {magoo} not a scalp?
[13:12] {Threei}  looks like
[13:12] {dino} out fcx .38, +.38
[13:12] {Threei}  let's try to partial and milk it
[13:12] {magoo} yea
[13:12] {Threei}  very nice energy of eliminating that big .41 offer
[13:13] {magoo} mkts green today vad? trying
[13:14] {Threei}  DJI -70...
[13:14] {Threei}  by these days standard it's a 10 min walk, lol
[13:14] {magoo} was -120
[13:14] {Threei}  SLB 1:1
[13:19] {magoo} where stop
[13:19] {Threei}  .35 for me
[13:20] {Threei}  .30 if you don't care
[13:20] {Threei}  and are ready for flat
[13:21] {Threei}  scalpers win
[13:22] {Threei}  RIG is getting there
[13:23] {nemo} I tink it's there
[13:32] {nemo} yep, it was
[13:33] {dino} hl l meli .80
[13:35] {magoo} u miss any yet dino?
[13:36] {dino} two stops both flat
[13:36] {dino} some days you eat the bear
[13:39] {nemo} fcx break .60 could go straight to 65
[13:41] {nemo} RIG came back
[13:50] {Threei}  (GR) A bomb has reportedly exploded at the office of the Greek public order minister - Greece TV
[13:50] {magoo} so mkt pops lol
[13:51] {nemo} looks like spy wants 200 ma on the 5 minute
[13:53] {Threei}  Financials strengthen in early afternoon trading as the Congressional conference moves toward crafting final financial regulation (FinReg) bill
[13:55] {Threei}  Ron
[13:55] {Threei}  I know you are miserable without your daily dose, but the relief is coming
[13:55] {Threei}  guess who is coming on TV shortly
[13:55] {Les} geena davis?
[13:56] {magoo} roseanne barr?
[13:56] {Threei}  - The conference chairman, Barney Frank, has stated several times he expects to finish the FinReg bill by the end of today, June 24. He has also noted that if they do not finish work today, the bill would be delayed until after Congress' 4th of July break.
[13:56] {RonS} yes
[13:56] {dino} daffey duck
[13:56] {Threei}  to les and mags - you both wish
[13:56] {Threei}  dino... hmmm...
[13:56] {Les} barr - the fat chick?
[13:56] {Threei}  you may be right {GGG}
[13:56] {magoo} ya luv her
[13:56] {Les} lol
[13:57] {RonS} fas long?
[13:58] {Threei}  well, news can come any moment
[13:58] {Threei}  if they say no finreg bill today, FAS may drop faster than you can say mama
[13:58] {hawk} mama
[13:59] {Threei}  see? it cna drop faster than that
[13:59] {Threei}  cna = can
[14:03] {Threei}  Obama Takes Medvedev to Rays Hell Burger
[14:04] {Threei}  {Medvedev}, okay, you come to Moscow, I will take you to that pirozhkovaja on Arbat, food poisoning will be with you for months to come
[14:06] {Threei}  here they are
[14:10] {dino} stopped meli -.31
[14:10] {nemo} 1st loss
[14:15] {dino} y
[14:19] {dino} ctrp l .01
[14:33] {dino} ctrp stopped -.15
[14:34] {dino} break time
[14:37] {magoo} read RIG vad?
[14:37] {nemo} fas could be ready right around here
[14:38] {Threei}  feels like bounce but no firm read mags
[14:38] {magoo} fas, rather see .45 area
[14:38] {nemo} tinking lose .70 hold .65 and recross
[14:39] {magoo} im short it .51 vad
[14:39] {dino} ndsn drop
[14:41] {magoo} thought it follow slb bp
[14:42] {RonS} tsn
[14:42] {RonS} sfd
[14:43] {RonS} Chickens to Russia?
[14:43] {Les} china
[14:43] {Les} cny devalued 50%¨
[14:43] {Les} or is that overvalued
[14:43] {shorty} Cya tomorrow all.
[14:43] {Les} ciao
[14:45] {Threei}  take care shorty
[14:45] {RonS} cya shorty
[14:45] {nemo} 1:1 fas
[14:46] {nemo} tna looking long
[14:46] {magoo} cwlz
[14:46] {magoo} vad news
[14:47] {magoo} not avail
[14:47] {Threei}  no news
[14:48] {nemo} stopped faz
[14:48] {nemo} fas
[14:48] {dino} cwlz
[14:48] {Les} mags what's your target for RIG?
[14:49] {magoo} .08
[14:49] {magoo} .11 area, but dunno
[14:50] {magoo} slb bp lows, mkt looks bad
[14:52] {magoo} thats my read
[14:53] {dino} ctrp l.85
[14:54] {dino} abandon hope all ye who trade here
[14:54] {nemo} why?
[14:54] {nemo} Les still here?
[14:54] {dino} think about it
[14:54] {Les} ?
[14:54] {nemo} well, hope is a bad way to trade
[14:54] {dino} hope is the slayer of traders
[14:55] {hawk} hope floats
[14:55] {Les} 2/3 out rig mags ty
[14:55] {dino} they all float down here
[14:56] {hawk} they mostly come out at night, mostly
[14:56] {magoo} welcome, dont let it hurt ya
[14:57] {Threei}  nice trade folks
[14:57] {Threei}  I mean filks
06[14:57] * Threei squints at larisa
[14:58] {magoo} out target .11
[14:58] {Les} caught yer rig at .40 after last bounce FYI
[14:58] {magoo} .08 too
[14:58] {dino} gj
[14:58] {hawk} nice mags, caught it .41, thx
[14:59] {Les} thanks yeh all out
[14:59] {magoo} nice
[15:01] {magoo} i double exited and long 09
[15:02] {Les} ha was thinking long as well. but inebriated now so happy to finish on a good note
[15:03] {Les} pizza, women and tuscanny reds. It's summer time
[15:04] {magoo} gs ripping up, news
[15:04] {Threei}  no
[15:04] {Threei}  I guess finreg bill advances well
[15:05] {Les} Al Gore behaved like 'crazed sex poodle'
[15:06] {nemo} what?
[15:06] {nemo} he humped somebody's leg?
[15:06] {Les} http://miburl.com/MN4NuH
[15:06] {Les} so global warming was something different for him...
[15:06] {RonS} ...mashed a 52 year old.
[15:07] {Les} gotta love the integrity of our beloved leaders
[15:07] {nemo} is this going to become a "depends on what your definition of 'is" is"
[15:07] {RonS} ...prosecutor said she should have sent a thank you card, refused to press charges.
[15:07] {nemo} nothin' new
[15:08] {nemo} Hell, JFK turned the White House into a Cat House
[15:09] {RonS} bad joke...but w/ no evidence, no charges
[15:09] {magoo} wheres bounce on it vad? if any
[15:09] {Threei}  GS?
[15:09] {Les} l faz .81 stop .75
[15:09] {magoo} ya
[15:10] {Threei}  I don't have read on it
[15:10] {magoo} RIG getting raped
[15:12] {Les} half out faz
[15:12] {Les} .90
[15:12] {nemo} who pulled the plug
[15:13] {Les} 1/4 more .99
[15:13] {Les} all out. bounce zone for qqqq here
[15:20] {Les} l faz .01 stop .93
[15:22] {dino} ndsn hl l .50
[15:23] {Les} faz stopped.
[15:24] {Les} thank you all for a profitable 1st day as a career trader. c u's tgomorrow
[15:24] {Threei}  wait!
06[15:24] * Threei slaps Les around a bit with a large roll of cash
[15:24] {Les} duck
[15:24] {Threei}  now go
[15:24] {Les} ty sensai
[15:24] {Threei}  always
[15:24] {Threei}  just ask
[15:26] {nemo} shoulda' smacked him with a japanese/english dictionary
[15:28] {dino} cya les
[15:29] {dino} meli was a rinse
[15:32] {nemo} bye folks c u manana
[15:32] {RonS} cya nemo
[15:33] {Threei}  take care nemo
[15:33] {nemo} my age....
[15:33] {nemo} take it any way I can get it
[15:33] {dptl} have a good evening all
[15:33] {Threei}  take care dp
[15:35] {dino} ppt
[15:36] {dino} cya dp
[15:37] {magoo} FCX bounce vad?
[15:38] {Threei}  if holding .50 mags
[15:38] {Threei}  .60 break I'd try
[15:38] {Threei}  risk is minimal
[15:38] {Threei}  if loses it, no read for now
[15:53] {Threei}  again, don't forget to revioew today's catch of the day
[15:54] {Threei}  setups you must know
[15:54] {magoo} where?
[15:54] {Threei}  where is my frozen trout...
[15:59] {dino} out ndsn -.20
[15:59] {magoo} orcl and rimm vad, get to work lol
[16:00] {Threei}  lol
[16:00] {Threei}  go away
[16:01] {Threei}  ORCL Reports Q4 $0.60 v $0.54e, R$9.5BB v $9.5Be
[16:02] {Threei}  thank you all
[16:02] {Threei}  havce a good evening, ee you tomorrow
[16:02] {magoo} um..RIMM boss?
[16:03] {Threei}  not yet
[16:03] {magoo} what u think? bounce like orcl?
[16:04] {Threei}  lower...
[16:04] {Threei}  around .20 rather

Jun 22 2010

"Catch of the day" today is somewhat unusual for us but one of my favorites. It's so-called risk-based setup - the odds of its working are 50/50, but the risk is so small that it can be taken on that alone. In this case it happened so that reward was unusually big too.  It was quite unclear whether stock would go for breakout or fail - the stop size was 15 cents which is nothing for BIDU. See the chart

Session Time: Tue Jun 22 00:00:00 2010

[07:45] {hawk} good morning
[08:24] {Threei}  good morning
[08:25] {hawk} Vad :)  Bp getting dp'ed
[08:25] {Threei}  together with UK residents:
[08:25] {Threei}  (UK) UK Chancellor Osborne: Emergency budget to increase VAT to 20% v 17.5% prior (as expected)
[08:25] {Threei}  - VAT increase to raise 13B annualy by 2014/15 period
[08:25] {Threei}  - Increases capital gains tax to 28% v 18% prior. Lower and middle class tax payers are exempt from the 28% rate. Capital gains for majority investors to remain protected
[08:25] {Threei}  - Higher rate income tax threshold frozen until 2013-14. To increase the income tax free threshold to 10K
[08:27] {Threei}  AFFY
[08:27] {Threei}  Affymax Receives $30M Milestone Payments for Database Lock of Phase 3 Clinical Trials for Hematide/peginesatide
[08:30] {Threei}  BP.UK Plan to raise debt capital is facing snags; plan may be pushed back two or three weeks - NY Post
[08:30] {Threei}  June 21, 2010 10:10:45 PM
[08:30] {Threei}  British Petroleum plc An employee warned BP and Transocean about a problem related to the blow-out preventer weeks before Gulf of Mexico incident - London Telegraph
[08:30] {Threei}  - The oil worker who survived the accident warned that it was a leak on the rig's safety device.
[08:30] {Threei}  - The worker added that the problem hardware was switched off instead of being repaired.
[08:32] {hawk} ouch, that worked out well (pun intended)
[08:32] {Threei}  no kidding
[08:33] {Threei}  (UK) British Bankers Assn: Bank levies should be coordinated internationally, notes it is "committed to working with the govt on bank levies
[08:33] {Threei}  what a dumb idea
[08:33] {Threei}  - Important that international banks are not taxed multiple times in different nations.
[08:34] {Threei}  no worry, in 5 years they are all will be canadian, brasilian and chinese banks
[08:35] {Threei}  under the slogan "Tax this!"
[08:35] {hawk} lol
[08:36] {Threei}  I mean, there is a reason why on Royal Caribbean cruise ships there are words Nassau Bahamas, right?
[08:43] {Les} morning
[08:43] {nemo} afternoon
[08:43] {Threei}  les, nemo :)
[08:43] {Les} fixed my RAM problem
[08:43] {nemo} ?
[08:43] {Les} stopped using Microsoft's silverlight plugin
[08:43] {nemo} Vad :)
[08:44] {Les} got a screen full of laser charts now
[08:44] {nemo} can't use Freestockcharts now
[08:44] {Les} much easier on the computer's processor and memory
[08:44] {Les} why?
[08:44] {nemo} it runs on silverlight
[08:44] {Les} and...?
[08:45] {nemo} If you take the engine out of a car, what happens?
[08:45] {Les} you walk
[08:45] {Les} why did you pull silverlight?
[08:45] {nemo} I didn't
[08:45] {nemo} you did
[08:45] {Les} aaaaaaaaah
[08:46] {Les} I keep 2 screens, instead of 6 like before
[08:46] {Les} windows, not screens
[08:46] {Threei}  silverlight is a memory hog
[08:46] {Les} i can see it is terrible
[08:46] {Les} having reduced its use
[08:47] {Les} but i love it's indicator layout
[08:52] {nemo} bidu breaking out again
[08:56] {Les} wondering if TZA has found a bottom on daily, somewhere around this .50 level
[08:57] {Threei}  well, TZA is not a stock
[08:58] {Threei}  your question is akin to "wondering if market has topped"
[08:58] {dptl} good morning
[08:58] {Threei}  dp :)
[08:59] {Les} yep
[09:07] {RonS} gm all...fascinating to me that w/ the UK "austerity" measures that the fact is that government is the penultimate sacred cow.  i mean for chrissakes even God only wants 10%.
[09:08] {Threei}  Ron :)
[09:08] {Threei}  whole "emergency budget" reads like nightmare coming true
[09:08] {Threei}  they obviously are trying to reproduce canadian measures of 1990s
[09:09] {Threei}  but the situation is very different
[09:09] {RonS} Canada has true resources.
[09:09] {Threei}  that, and a lot more
[09:09] {RonS} small pop v. those resources
[09:09] {Threei}  Canada hasn't had horrifically high taxes and incredibly high prices when started its austerity
[09:10] {Threei}  so it was tough,
[09:10] {Threei}  but it was not on top of tougher
[09:11] {Threei}  UK being one of the most expensive places on the planet simply has less, or no, room to make life even more expensive
[09:11] {RonS} ...talk now about the loonie and the aussie dollar being "reserve" currencies. they're trying to kill you Vad...
[09:11] {Threei}  sigh
[09:11] {Threei}  it's just silly talk
[09:12] {Threei}  CDN can't be reserve curency for the world
[09:12] {Threei}  but of course, it will get a push out of this nonsense
[09:12] {RonS} i know, i know...just trying to heighten your consternation, or it is constipation?...
[09:13] {Threei}  it's general contempt with the world
[09:13] {Threei}  but I have had it for quite a while
[09:13] {Threei}  so nothing really new :)
[09:14] {RonS} ...my theory is that everyone matches his/her genetics and personlaity for the age in which they live.  Sometime it meshes, sometimes not.  I, obviously live in the wrong time period.
[09:15] {Threei}  which would you prefer?
[09:15] {RonS} ...but all revolutions have come from disaffected intellectuals.
[09:15] {Threei}  CCL Reports Q2 $0.32 v $0.29e, R$3.2B v $3.3Be
[09:17] {Threei}  CCL and RCL sell off
[09:19] {larisa} gm :)
[09:19] {magoo} mornink comrades (oldie)
[09:20] {hawk} but a goodie
[09:21] {Threei}  larisa, magoo :)
[09:21] {RonS} ...reminds me of Rockie and Bullwinkle...and Boris and Natasha...
[09:22] {RonS} "fanmail from some flounder?"
[09:22] {lasertrev} morning
[09:22] {Threei}  http://www.rasmussenreports.com/public_content/political_commentary/commentary_by_michael_barone/obama_s_thuggery_is_useless_in_fighting_spill
[09:23] {RonS} omg, there is common sense?
[09:26] {Les} affy pumping along nicely from .50 break. gotta run. back later.
[09:26] {Threei}  CCL short candidate
[09:27] {jfjf64} mornin
[09:27] {Threei}  jf :)
[09:27] {bellowsbunch} morning
[09:28] {Threei}  bellow :)
[09:28] {Threei}  BP...
[09:28] {Threei}  bumping onto .60
[09:28] {Threei}  hard to tell brteakout or double top
[09:30] {Threei} Short Setup: BP  .50 brea
[09:30] {Threei}  if stays under .60
[09:30] {dino} gm all
[09:30] {Threei}  dino :)
[09:31] {dino} affy gets 30m pmt
[09:32] {Threei}  no go BP
[09:32] {dino} affy sm l .55
[09:33] {Threei}  BIDU
[09:33] {Threei}  watching for bounce
[09:34] {Threei}  one more sharp dive, most likely
[09:34] {Threei}  to about .30 - .40
[09:34] {magoo} rimm too vad
[09:34] {Threei}  ugh
[09:35] {Threei}  jumpy
[09:35] {magoo} ugg rimm
[09:37] {Threei}  here comes BIDU
[09:37] {nemo} closed around .36
[09:37] {Threei}  let it drop more
[09:37] {Threei}  not ready yet
[09:39] {Threei}  RIMM, watch for double bottom closer to .20 - .25
[09:39] {RonS} Bernstein making neg V call....thinks yesterday's modification of Durbin Ammendment has negative implications for V (positive for MA) that the market has not picked up on......says V will lose its debit exclusivity with its issuers....."On the negative side, the new language incorporates a "no exclusive network" provision that we think could very substantiall
[09:40] {Threei}  no clean bounce setup for either, RIMM or BIDU
[09:40] {RonS} jef up big...earnings
[09:41] {Threei}  first instinct was right on BIDU
[09:41] {Threei}  [09:34] {Threei} to about .30 - .40
[09:41] {Threei}  but no readable setup at the moment
[09:41] {magoo} quick both
[09:41] {hawk} took bidu .61 out .93, thx vad
[09:41] {Threei}  :)
[09:41] {Threei}  US) Preview: May Existing Home Sales due out at 10:00ET
[09:41] {Threei}  **Consensus expectation: 6.1Me v 5.77M prior
[09:41] {bellowsbunch} me too
[09:42] {Threei}  as long as you get a feel for entry where I can outline general idea, good job
[09:42] {Threei}  particular call by me requires exact setup
[09:43] {Threei}  US) Preview: June Richmond Fed Manufacturing Index due out at 10:00ET
[09:43] {Threei}  **Consensus expectation: 20e v 26 prior
[09:43] {Threei}  LVS, long entry on pullback to 26.95 - 27
[09:44] {Threei}  .10 break is classic setup, just not sure about breaks yet
[09:44] {Threei}  US) US House Majority Leader Hoyer: Tax cuts for middle class could be 'unaffordable' given the fiscal outlook
[09:44] {Threei}  but tax rise is affordable
[09:44] {Threei}  stop this planet, I want out
[09:44] {nemo} huge offer at .12 taken
[09:45] {Threei}  market spike took LVS with it
[09:45] {Threei}  anyone went for break, take scalp, this is not really sustainable spike, IMO
[09:45] {nemo} there was a huge offer at .12, didn't get to alert
[09:45] {Threei}  there was one at .08 too
[09:45] {RonS} omx squeeze happening
[09:46] {Threei} Short Setup: BIDU  .40 break
[09:46] {nemo} bid at .20
[09:46] {RonS} 10% float short
[09:46] {Threei}  if stays under .55
[09:46] {Threei}  1:1
[09:46] {nemo} where stop on lvs?
[09:46] {Threei}  stop for what?
[09:47] {nemo} I took break of .12
[09:47] {Threei}  09:45] {Threei} anyone went for break, take scalp, this is not really sustainable spike, IMO
[09:47] {nemo} o.k.
[09:47] {nemo} so, once I don't want to be a scalper
[09:47] {nemo} :)
[09:49] {Threei}  HOKU
[09:49] {nemo} funny...I'd thought stop to .10
[09:49] {Threei}  no news that I see
[09:50] {Threei}  BIDU 1 to I have no idea
[09:50] {Threei}  I can't count that far
[09:50] {nemo} 1:8
[09:50] {Threei}  thank you
[09:53] {Threei}  watching LVS for bounce
[09:53] {RonS} dino, big selloff dndn
[09:53] {Threei}  off .90 most likely
[09:54] {Threei}  OK, watching for 5 cents recross
[09:55] {dino} thx
[09:57] {Threei}  1:1 for scalpers LVS
[09:57] {dino} hl l dndn .00
[09:57] {dino} itri
[09:59] {Threei}  US) RICHMOND FED MANUFACTURING INDEX: 23 V 20E
[10:00] {Threei}  US) MAY EXISTING HOME SALES: 5.66M V 6.1ME
[10:00] {Threei}  yikes
[10:00] {dino} 8k credit exp
[10:00] {Threei}  EU) EURO ZONE JUN ADVANCE CONSUMER CONFIDENCE: -17 V -19E
[10:00] {Threei}  yikes
[10:00] {Threei}  *(US) APRIL HOUSE PRICE INDEX: 0.8% V 0.3%E
[10:01] {dino} ronzo thx dndn out .34, +.40
[10:01] {Threei}  what else did they think was going to happen when all kinds of stimulus spending run out
[10:01] {RonS} yw
[10:01] {dino} nice spot
[10:01] {Threei}  same hole, just deeper
[10:02] {Threei}  but hey!
[10:02] {Threei}  Treasury Sec Geithner: Still sees a positive return from TARP investments in banks
[10:02] {nemo} rimm happy
[10:02] {Threei}  hope springs eternal?
[10:02] {Threei}  DNDN Hearing Cowen making positive comments (35.17, -1.66, -4.51%)
[10:02] {RonS} lol...they must have a position
[10:04] {Threei}  - Sees TARP increasing budget deficit by $105B, lower by $11.4B from February estimate.
[10:04] {Threei}  - Treasury is well on the way to winding down TARP, banks have repaid 75% of TARP funds they received.
[10:04] {Threei}  - TARP investments in AIG will produce losses.
[10:04] {Threei}  - Losses from GMAC to be less than anticipated.
[10:04] {Threei}  - Treasury will return hundreds of billions in unused TARP authority.
[10:05] {nemo} well, we know where that will go
[10:05] {nemo} BIdu, damn
[10:06] {dino} itri sm l .75
[10:07] {dino} dndn hl l .09
[10:08] {nemo} fcx break of .30
[10:08] {nemo} stop under .15 half lot
[10:09] {Threei} Long Setup:  LVS  .90 break
[10:09] {Threei}  if stays above .80
[10:09] {nemo} 1:1 fcx
[10:10] {nemo} 2:1
[10:10] {nemo} stop to .40
[10:11] {RonS} pcx whacked...news...mine closing
[10:11] {Threei}  17:11 PCX To close Harris No. 1 mine due to sudden adverse geologic conditions in the primary conveyor belt and travel entries of the mine
[10:11] {Threei}
[10:11] {Threei}  LVS 1:1, half out
[10:12] {Threei}  scalpers know what to do
[10:13] {dino} out iitri .15, +.40
[10:13] {Threei}  scalpers win
[10:15] {nemo} rimm staying happy
[10:15] {nemo} stop to .50 fcx
[10:15] {dino} out dndn .05 -.04
[10:16] {dino} chickened out
[10:16] {nemo} 1:3 fcx
[10:17] {dino} feels like big move in markets coming
[10:17] {dino} gj nemo
[10:17] {nemo} bc
[10:19] {dino} ntes?
[10:19] {Threei}  no news
[10:20] {nemo} out rest fcx
[10:20] {nemo} +.45
[10:20] {larisa} gj
[10:20] {nemo} BC
[10:20] {nemo} funny still holding above .50 stop but was getting antsy
[10:21] {larisa} what BC means, british columbia? :)
[10:21] {Threei}  DNDN Hearing JP Morgan defends the name (timing uncertain) (35.18, -1.65, -4.48%)
[10:21] {nemo} Broken Clock moment
[10:21] {larisa} lol
[10:21] {nemo} I get two a day
[10:22] {Threei}  and if you get three, you are a very broken clock or what?
[10:22] {nemo} I'll have to come up with something else
[10:23] {larisa} FCX counts for 2
[10:23] {dino} gap around 30.50
[10:23] {dino} will wait around 30.60
[10:23] {dino} bc?
[10:23] {dino} bird cage?
[10:23] {dino} ahhhh
[10:23] {dino} you need to tell us which two in advance
[10:23] {nemo} tomorrow's paper today?
[10:23] {Threei}  Moody's revises gaming industry sector outlook to stable from negative
[10:23] {Threei}  - The stable outlook reflects Moody's belief that the overall credit conditions of the U.S. gaming industry will neither erode norimprove materially during the next 12 to 18 months.
[10:24] {dino} dndn hl l .25
[10:25] {nemo} what up with Les, not a peep...not that I mind
[10:26] {larisa} hw said dirty kitchen looks better than the market. may be wife did not agree and they have summer cleaning :)
[10:30] {dino} dndn stopped -.26
[10:31] {Threei}  Fedex Corp CEO: Country must be put on path towards millions, then tens of millions, and then hundreds of millions of electric cars and trucks
[10:31] {Threei}  seriously?
[10:31] {Threei}  he ever looked into this technology?
[10:31] {Threei}  knows anything about it?
[10:32] {Threei}  wtf is happening with amateur hour on the scale of the whole country?
[10:32] {Threei}  everyone knows how to solve the energy problem, drill wells, run war etc etc
[10:34] {larisa} including us. I had a dream about fixing the oil pipe. Hubby said, not a bad solution :)
[10:34] {RonS} ...must be a smart man
[10:35] {larisa} very good engineer. I am bad one, but have a bit of brains too :)
[10:36] {Threei}  I've no idea how to fix it
[10:36] {Threei}  but I am not running around screaming they should nuke it
[10:37] {RonS} i like Obama's idea:  human sacrifice via moratoriam
[10:38] {RonS} pandering to the gods and the masses while doing nothing...oh, i guess he is playing golf
[10:40] {dino} dndn hl l .00
[10:41] {shorty} morning
[10:41] {Threei}  shorty :)
[10:44] {Threei}  finally
[10:44] {Threei}  Twelve percent (12%) say that Congress is doing a good or an excellent job
[10:44] {Threei}  I think I've nailed the ratio of idiots once and for all
[10:44] {nemo} no...it's much higher than that
[10:45] {Threei}  I should have said, incorrigible idiots
[10:45] {nemo} no, those are mutants
[10:45] {Threei}  above that it's a "idiot mode on/off", with various degree of frequency of switching between modes
[10:45] {Threei}  12% is permanent On
[10:46] {Threei}  DNDN Aetna is covering Provenge (sipuleucel- T) for the treatment of prostate cancer
[10:46] {hawk} dino, you rock, thx :) +.67 dndn
[10:46] {RonS} boom
[10:46] {nemo} goes to .20
[10:46] {Threei}  DNDN Ticks higher as Aetna document circulates which appears to confirm the insurer will cover Provenge (sipuleucel- T) for the treatment of prostate cancer
[10:47] {Threei}  "appears"
[10:47] {dino} thx hawk, lucky, ron's find
[10:47] {dino} out dndn .84, +.84
[10:47] {hawk} thank you ron :)
[10:47] {Threei}  wtg guys
[10:48] {dino} ronnnzzzzzzoooooo
[10:50] {RonS} pcx blood...looking for 14 break and re-trace...maybe
[10:51] {Threei}  GOP candidate for the next election seems to be defined in public opinion
[10:51] {Threei}  Nearly as many (49%) say former Massachusetts Governor Mitt Romney, an unsuccessful candidate for the GOP presidential nomination in 2008, is qualified to be president of the United States. Thirty-two percent (32%) say Romney is not qualified, but another 20% are not sure.
[10:51] {dino} guliani
[10:52] {RonS} omg...
[10:52] {dino} well, romney blew it w/heathcare
[10:52] {dino} can't be trusted
[10:52] {dino} i know, lets get jeb
[10:52] {RonS} g man is a charlatan
[10:53] {RonS} wannabe country club republican
[10:53] {dino} don't know what to do w/pcx ron
[10:53] {RonS} prefer the real thing who at least has real executive experience
[10:54] {RonS} but it is moot.  prejudice against Mormonism too strong
[10:54] {dino} how about this new nj gov, so far i like him
[10:55] {RonS} he is a trip...in a good way...i always like jackie gleason...fat boys rock
[10:55] {dino} to the moon
[10:55] {dino} dndn new support around .50
[10:58] {Les} how was the opening?
[10:58] {dino} enjoyable
[10:59] {Les} cool
[10:59] {Les} ccl break of 34?
[10:59] {Les} too late
[11:00] {Les} if holding .95? .90?
[11:01] {Threei}  not delighted
[11:01] {Les} ok
[11:01] {Les} started thinking of shorting on a bounce to 34
[11:02] {dino} ntri
[11:02] {Les} bidu read vad? at 76
[11:03] {Threei}  breakdown, maybe
[11:03] {Threei}  52/48
[11:03] {RonS} wtf ntri?
[11:04] {shorty} Some fat celeb is probably endorsing ntri
[11:04] {Les} lol
[11:04] {RonS} ...must of signed up Christie as spokesperson...lol...
[11:04] {Les} a clear outlook on life shorty
[11:04] {Les} i like it
[11:05] {shorty} :)
[11:05] {dino} dk ron
[11:05] {dino} not avail cyber
[11:06] {RonS} whoa 47%  float ntri short
[11:08] {Les} s bidu .90 stop above.10
[11:08] {Threei}  why .90?
[11:08] {Threei}  76 was much cleaner trigger
[11:09] {Les} yeh I know. late to the party.
[11:09] {Threei}  ok, but why are you chasing?
[11:09] {Threei}  if you are late, you are late
[11:10] {dino} itri hl l .51
[11:11] {Threei}  Les... by entering this way you are ruining your r/r
[11:11] {Threei}  look at what happened:
[11:11] {Threei}  76 entry gave you almost 1:2 before reversing
[11:11] {Les} yes I can see that
[11:12] {Threei}  .90 entry , you see for yourself
[11:12] {Threei}  this is not a first time I see you doing this
[11:12] {Threei}  trigger is where it is for a reason,
[11:12] {Threei}  play should not be taken just to participate
[11:12] {Threei}  there is reasonable limit to chasing,
[11:12] {jfjf64} you tell em vad
[11:12] {Threei}  doubling your stop is not it
[11:13] {jfjf64} lol
[11:13] {jfjf64} dont mind me
[11:13] {Threei}  you just wait till I notice you doing aything of this kind :)
[11:14] {Les} yeh but it is also 1st trade of the day and I see market is freezing and and washing out
[11:14] {Threei}  so?
[11:14] {Les} - and
[11:14] {Les} it won't happen again today
[11:14] {Threei}  market does what it does,
[11:14] {RonS} Dallas: Fastest growing U.S. city...and the place is gawdawful, not horrible, but gawdawful
[11:14] {Threei}  it has no idea about yor needs and wants
[11:14] {nemo} I like Fort Worth
[11:14] {Les} I saw market breaking down
[11:14] {Les} it didn't
[11:14] {RonS} same weather...it sucks
[11:15] {nemo} Yeah, but I like that city better
[11:15] {RonS} true
[11:15] {larisa} anybody visited Asheville NC ?
[11:16] {nemo} yes...absolutely beautiful
[11:16] {larisa} thanks nemo
[11:16] {nemo} one of my favorite musicians lives there
[11:16] {larisa} hubby wants to relocate there
[11:16] {shorty} I really like SC and NC.  Awesome country there.
[11:16] {nemo} NC mountains
[11:17] {RonS} sc has lower taxes...
[11:17] {nemo} I lived in SC, unless you're near the coast, keep it
[11:17] {larisa} I am mountain girl. love the nature
[11:17] {shorty} I realy likes Anderson SC
[11:18] {RonS} the dem noreasterner have moved to nc and turned into a high tax state
[11:18] {shorty} liked
[11:18] {nemo} have friends there too
06[11:18] * larisa slaps RonS around a bit with a large trout
[11:19] {RonS} i hear eastern TN is nice...knoxville...if you can understand the natives' accent
[11:19] {shorty} Only the one today Threei? LVS?
[11:19] {dino} condo in sunset, nc, luv it
[11:20] {RonS} bidu shorty
[11:20] {nemo} fcx
[11:20] {nemo} shorty
[11:20] {shorty} ty
[11:20] {Threei}  09:46] {Alert} Threei Short Setup: BIDU .40 break
[11:20] {Threei}  [09:46] {Alert} Threei if stays under .55
[11:20] {nemo} went 1:8
[11:20] {shorty}  :O
[11:21] {RonS} 100 mile vistas, CO, luv it...
[11:21] {shorty} I know that I would have been out when it hit 1:1
[11:21] {shorty} That is why I loved trucking sooooo much.
[11:22] {dino} itri stop to .80
[11:22] {dino} make it .90 expect slip
[11:23] {shorty} Texas reminds me of Alberta.
[11:24] {dino} to .95
[11:26] {dino} out itri .06, +.55
[11:27] {dino} dndn pullback
[11:30] {RonS} 31, check the dailies on biib, amgn, celg, genz, gild.  There has got to be a play in here...
[11:30] {RonS} 31 = 3i
[11:31] {Threei}  CELG looks decent
[11:32] {Threei}  GENZ overextended a bit
[11:33] {dino} at least you didn't call him #2
[11:33] {Les} lvs long if pullback to under 27?
[11:34] {RonS} or Johnson
[11:34] {dino} lol
[11:34] {dino} itri too soon
[11:39] {Threei}  looks about right Les
[11:39] {Les} here, or under 27
[11:39] {Les} ?
[11:39] {Threei}  under
[11:48] {Threei}  LVS is trying to form C&H instead
[11:48] {Threei}  can't say I feel enthusiastic about it
[11:48] {nemo} lunch time
[11:51] {nemo} speaking of bidu  Offer .38
[11:51] {RonS} celg is forming c&h
[11:55] {dino} dndn
[11:56] {Les} s GG .49 stop above .60
[11:58] {Les} gg covered +.11
[11:58] {Les} l lvs .01 .95 stop
[11:58] {RonS} nuts, this mtb bank thing is not done...slap me w/ a trout
06[11:58] * nemo slaps RonS around a bit with a large lead pipe
[12:00] {Les} out lvs +.09
[12:01] {dino} gj
[12:02] {dino} fdx sm l .05
[12:03] {nemo} BIDU maybe setting up IC&H
[12:05] {nemo} might want back into LVS here Les
[12:05] {nemo} nice catch on FDX dino
[12:05] {Les} hmmm long or short I can't decide
[12:05] {nemo} long
[12:06] {nemo} play for scalp, watch the market
[12:06] {dino} ty nemo
[12:06] {Les} index's mixed up in MA's, which I hate to work with
[12:06] {nemo} offers .08
[12:06] {dino} "play for blood"
[12:06] {Les} sounds rather brutal coming from you dino
[12:06] {dino} tombstone
[12:07] {nemo} Les would make a nice huckleberry
[12:07] {dino} lol, i got two guns one for each of you
[12:07] {Les} you've got me there nemo. have to read the story
[12:07] {nemo} heheheh
[12:07] {nemo} see the movie
[12:07] {dino} great flick
[12:07] {Les} tombstone? this film I know
[12:08] {nemo} obviously not
[12:08] {Les} but huckleberry fin...
06[12:08] * nemo slaps Les around a bit with a large copy of the script to Tombstone
[12:08] {Threei}  want me to give you a reason for crying?
[12:08] {Threei}  here goes:
[12:08] {dino} dino slaps him again
[12:08] {nemo} what don't you want us to look at
[12:08] {Threei}  US) Treasury Sec Geithner: Obama administration is likely to conclude that the govt should retain a role in guaranteeing mortgages
[12:08] {Les} hahaha
[12:09] {Les} you socialist parasites!!!
[12:09] {Les} no nemo, I don't know what it is to be a 'huckleberry'
[12:09] {Threei}  US) US House Rep Frank: Expecting to finish the FINREG bill by Thursday, June 24; as expected
[12:09] {Threei}  - If not able to finish Thursday then it cannot pass until middle of July
[12:09] {dino} politicians are just pushing down the road for some other generationto deal w/it
[12:10] {nemo} c'mon lvs, break down .08!
[12:10] {dino} dndn l .61, stop .48
[12:12] {Les} CCL vad
[12:12] {Les} keeps returning to .85
[12:12] {dino} stopped -.13
[12:12] {Les} b/d from here?
[12:13] {nemo} should bounce here dino
[12:13] {Les} vwap bounce?
[12:13] {nemo} yep
[12:13] {Les} happens often?
[12:13] {nemo} also have pivot support within .10
[12:13] {Threei}  CCL?
[12:13] {nemo} watch, see if it does
[12:13] {Threei}  totally inactive
[12:13] {Les} oh
[12:14] {nemo} pivot support here
[12:14] {Les} I don't have pivot here nemo of dndnd
[12:14] {nemo} bounced off
[12:14] {nemo} I do, .35
[12:14] {shorty} do
[12:14] {Les} can you send me a screenshot?
[12:16] {Les} http://uploads.mibbit.com/5QN9Af.gif
[12:16] {Les} I'll show you mine
[12:16] {nemo} workin' on it Les
[12:17] {Threei}  BP Coast Guard updates plans, notes a diconnect from containment system would be necessary 3-7 days before an impending Hurricane impact
[12:17] {nemo} snipping tool locked up my system
[12:18] {Les} http://www.wisdom-soft.com/products/screenhunter.htm
[12:18] {Les} u using this?
[12:19] {Les} so lvs was a long scalp
[12:19] {nemo} yeah
[12:19] {nemo} and yeah
[12:19] {nemo} now
[12:19] {nemo} tried snipping tool that came with VISTA pain in ass
[12:20] {Les} microsoft...
[12:20] {Les} you should know better
[12:22] {Threei}  you do know who is on TV, right?
[12:22] {dino} i hope john galt
[12:22] {Threei}  leave the hope...
[12:22] {RonS} the market bummer
[12:23] {dino} out fdx .44, +.39
[12:23] {nemo} on its way les
[12:23] {dino} market destroyer
[12:24] {Les} damn wanted dndn .40 b/d
[12:24] {Les} things I do to support a wife and kids
[12:25] {nemo} things your wife does to support you and the kids
[12:25] {nemo} might partial LVS here
[12:26] {nemo} especially with him on TV
[12:26] {nemo} yep
[12:28] {nemo} you get the email Leslie
[12:28] {nemo} ?
[12:32] {Les} back. let me check
[12:33] {Les} that's not pivot. what is that
[12:33] {dino} wow dndn
[12:33] {Threei}  US) President Obama: Insurance companies should not see the healthcare reform process as an opportunity for "unjustifiable" rate increases
[12:34] {Threei}  he'll never get it
[12:34] {Threei}  business moves accordingly to motivations you set,
[12:34] {nemo} dndn bounced at pivot support
[12:35] {Threei}  should or should not has nothing to do wioth it
[12:35] {Threei}  you make education loans easy - tuition fees increase
[12:35] {shorty} maybe he just says that so the majority thinks he cares?
[12:35] {Threei}  you guarantee mortgage loans - housing price increase
[12:35] {Threei}  start paying for health care - insurance premiums wil increase
[12:36] {Threei}  economics work on motives, not on morals or ethics
[12:37] {Threei}  whatever... it's all doomed anyway :)
[12:37] {Threei}  (US) President Obama: - Tells CEOs of insurance companies that they will be required to publicaly justify any large rate increases
[12:37] {dino} oooohhhhhhhhh
[12:38] {Threei}  as if they couldn't justify Earth being conus-shaped if there were profit in it
[12:38] {Les} nothing like a goodl old witch hunt
[12:38] {dino} all this guy does is try to verbally bully businesses
[12:39] {Threei}  pay me enoug and I will prove Earth is flat and lies on the backs of seven elephants standing on the huge tortouse
[12:39] {nemo} dndn either bounces or short here
[12:39] {Les} looking for recross short
[12:39] {shorty} Stelmach tried that in Alberta by increasing royalties.
[12:39] {dino} no 3i, the turtle of amazing girth, upon his back he carries the earth
[12:39] {Threei}  right
[12:40] {dino} obama is a "breaker"
[12:40] {Threei}  I'll throw elephants in for free :)
[12:40] {dino} nemo, dndn, where
[12:40] {dino} 00 break?
[12:40] {nemo} I would already be in
[12:40] {nemo} but .00 works
[12:42] {nemo} now short
[12:42] {dino} feels like db coming on it
[12:43] {RonS} le rinse of the weak longs
[12:44] {Les} lvs .95 b/d if holding .00 vad?=
[12:44] {Les} - =
[12:44] {Threei}  probably...
[12:45] {Threei}  kind of narrowed down
[12:45] {Threei}  will require considerable market move to work any direction
[12:46] {dino} hl l dndn .76
[12:46] {shorty} Target on dndn dino?
[12:46] {shorty} please
[12:47] {dino} .01+
[12:47] {shorty} ty
[12:47] {dino} need mkt help tho
[12:47] {shorty} ya.  I got in at .78 12:44.50
[12:48] {shorty} I keep forgeting to call it.
[12:48] {shorty} I am hoping for .20
[12:48] {Les} nice trendline holding spy up
[12:48] {nemo} cci interesting chart
[12:53] {Les} missed the .80 recross on dndn. the longs in this room sowing doubt in my mind...
[12:53] {dino} no good stopped -.27
[12:54] {shorty} me too
[12:57] {dino} taking a break on it
[12:57] {dino} better worlds
[12:57] {dino} ma up, v down
[12:59] {dino} ups
[12:59] {Threei}  Man Arrested after Wife Writes to Obama Asking for Help
[12:59] {larisa} lol
[12:59] {Les} wow
[13:00] {Les} gonna write dndn s .40 stop .60
[13:00] {dino} unbelievable
[13:00] {Les} already 1:1
[13:00] {Les} covered +.15
[13:00] {Threei}  http://edition.cnn.com/2010/US/06/21/new.york.obama.letter.immigration/
[13:00] {dino} nice
[13:01] {Threei}  *(US) TREASURY'S $40B 2-YEAR NOTE AUCTION DRAWS 0.738%; BID-TO-COVER RATIO: 3.45 V 2.93 PRIOR AND 3.10 AVG OVER LAST 10 AUCTIONS
[13:02] {Les} crazy stuff US immigration policy
[13:02] {nemo} how much indirect bidders take?
[13:03] {Threei}  70.18% allotted at the high
[13:03] {Threei}  - indirect bidders take 41.43% of competitive bids, direct bidders take 21.3%, primary dealers take 37.27%.
[13:03] {Threei}  - median bid 0.72%, low bid 0.647%
[13:03] {nemo} that's pretty good, then again, only 2 yar notes
[13:03] {nemo} year
[13:04] {dino} ups hl l .41
[13:04] {nemo} stronger volume this area on dndn dino
[13:04] {Threei}  White House has confirmed budget director Orszag to leave the Office of Management and Budget; as speculated earlier
[13:04] {nemo} probably sick of dealing with the morons, Or...
[13:05] {nemo} got a cushy job on Wall Street
[13:05] {Threei}  you assume he is any different?
[13:05] {nemo} perhaps...Stockman was under Reagan
[13:05] {Threei}  all I heard from hi was very heavy ideological
[13:05] {Threei}  from him
[13:05] {nemo} good soldier, so why is he leaving?
[13:06] {dino} because budget is out of control
[13:06] {nemo} yep
[13:08] {Threei}  I can't help but draw this parallel, forgive me for a sideways comment
[13:08] {Threei}  during Stalin times, when millions were sent to prisons and camps,
[13:08] {nemo} yep dino got the bottom on dndn
[13:08] {Threei}  a lot of them were true believers
[13:09] {Threei}  and comon refrain among them was:
[13:09] {Threei}  this is some middle level folks that are doing this to us,
[13:09] {Threei}  Stalin doesn't know, they decieve him,
[13:09] {Threei}  if we only find the way to let him know, he will save us.
[13:10] {Threei}  (of course letters by elatives to Stalin led to new arrests).
[13:10] {nemo} wow, cci broke 39
[13:10] {Threei}  Now, read this by that gal who wrote a letter
[13:10] {Threei}  "I feel really confused, I don't understand how something like this is possible. I can't imagine that at the top of the Obama administration that they realize that something like this is happening," Jamieson told CNN.
[13:11] {nemo} shallow end of the gene pool
[13:11] {RonS} they both should be arrested for ugly...
[13:11] {Threei}  well, I wanted to laugh but then looked in the mirror and elected to shut up
[13:11] {RonS} rotfl
[13:12] {nemo} ugly is as ugly does
[13:12] {Threei}  :)
[13:12] {dino} nice nemo dndn
[13:12] {Threei}  EU) Reportedly EU is considering a bond issue levy on member states with high levels of debt - unconfirmed report
[13:12] {Threei}  yup, let's add financial burden on those who are overburdened
[13:16] {Les} apc bad
[13:16] {Les} vad
[13:16] {Threei}  make up your mind, will ya
[13:16] {Les} this pullback below .30 good for a long break?
[13:16] {Les} if holding .20?
[13:16] {Threei}  for a quick scalp only
[13:17] {Les} ok
[13:17] {nemo} spy dropping
[13:17] {Threei}  overall, it's rather "short the bounces" than "buy the pullbacks"
[13:19] {Les} +.05 it is
[13:19] {Les} ty
[13:19] {Threei}  I just typed this:
[13:19] {Threei}  get out Les, IMO
[13:20] {Les} yeh thinking same thing
[13:20] {Les} having 3rd screen is making a difference
[13:20] {Threei}  nornally, I'd say sell into spike over .40
[13:21] {Threei}  but it's not worth the risk here
[13:21] {shorty} AONE Threei?
[13:22] {Threei}  dog with fleas...
[13:22] {shorty} lol
[13:24] {Threei}  US) Reportedly Senate negotiators on finreg bill rebuff effort to increase risk retention rules
[13:25] {Threei} Short Setup: APC  .30 break
[13:25] {Threei}  not a scalp if sets up and works
[13:26] {Threei}  - The current Senate proposal is for banks to retain 5% of risk in securitized assets (i.e. "skin in the game")
[13:26] {Threei}  more they tweak...
[13:27] {Threei}  - Strong Canadian Dollar combined with low productivity and lagging US demand are creating drags on the recovery.
[13:27] {Threei}  yes, horrible drags
[13:27] {Threei}  1:1 APC
[13:27] {Threei}  half out
[13:27] {Threei}  .18
[13:27] {Threei}  stop to .35
[13:29] {Threei}  1:2
[13:29] {shorty} nice ty Threei
[13:29] {Threei}  welcome
[13:30] {Threei}  1/4 more out
[13:30] {dino} gj
[13:30] {Threei}  ty
[13:32] {Threei}  stop for the last piece to b/e
[13:32] {Threei}  want to try and cover into sharp drop after loss of 42
[13:33] {Threei}  FR) France Fin Min Lagarde: May pursue more austerity at upcoming G-20 , will push for banking tax
[13:33] {Threei}  have they all lost their collective mind?
[13:33] {Threei}  what in the world that idiotic tax is supposed to achieve?
[13:34] {Threei}  if they are so eager to tax the greed, reckless behavior and disregard for econmic realities, why don't they tax themselves?
[13:35] {Threei}  Govt announced new tax on governmental activites
[13:35] {Threei}  when I see that, I'll believe in their sincere desire to tax the stupidity
[13:38] {dino} the way i see it 3i, is when half the people don't pay taxes, then govt can tax what itwants. plus when you have half not paying, you have effectively dumbed down the voters, hence they think these taxes are good. as for the politicians, they simply want that half of the voters, the ones not paying. bottom line, system is broken
[13:39] {Threei}  it so is...
[13:39] {Threei}  I no longer think it's fixable
[13:39] {Threei}  it's beyond repair
[13:40] {Threei}  and when I think what the only thing was that pulled US out of Great Depression and project this to today, I shudder
[13:40] {Threei}  wow
[13:40] {Threei}  must be news
[13:41] {Threei}  * JUDGE RULES AGAINST OBAMA MORATORIUM ON DEEPWATER DRILLING
[13:41] {Threei}  yes
[13:41] {Threei}  RIG too
[13:41] {dino} good
[13:41] {dino} oih spiked
[13:41] {Threei}  and even BP
[13:41] {dino} oii too
[13:42] {dino} slb hl l .70
[13:42] {Threei}  Reminder: HOS had filed suit against the Federal Govt's 6 month moratorium on deepwater drilling, which had been supported by the state of Louisiana, as they cited possible catastrope
[13:44] {Les} wow apc
[13:44] {shorty} Good thing I took profit
[13:44] {Threei}  last part was protected by b/e
[13:44] {shorty} right
[13:47] {RonS} hal pullback
[13:48] {Threei}  .45 long APC
[13:49] {Threei}  stop under .30
[13:50] {RonS} White House to appeal.
[13:50] {Threei}  sigh
[13:50] {Threei}  White House press secretary: to appeal Federal District Court judge's ruling to lift the moratorium on deepwater drilling in the Gulf
[13:51] {dino} out slb .-/o3
[13:51] {RonS} ...this guy is really bad...
[13:51] {Les} he likes to control...
[13:52] {RonS} he can't even control his wife...let alone his mouth
[13:54] {RonS} 1 million jobs...what is that 3 million people hurt by his idiocy?  sickening
[13:54] {dino} well he likes to destroy stuff, healthcare, banks, autos, and now oil
[13:59] {dino} slb l .50
[14:00] {dino} out .58, +.08
[14:00] {nemo} not waiting around, huh?
[14:00] {dino} no
[14:01] {RonS} dino channels ese...
[14:01] {dino} atpg, do may be better
[14:01] {dino} mkt drop
[14:02] {RonS} DRILLERS-- THE REASON THEY ARE SELLING OFF.........DESPITE THE FACT THAT THE JUDGE LIFTED THE BAN.........DRILLERS STILL MUST GET A PERMIT FROM THE MMS ( MINERALS MGT SERVICE )....... THE MMS IS A GOVT AGENCY AND IT IS HIGHLY UNLIKELY THAT THE DRILLERS WILL GET NEW PERMITS............THE ONLY DRILLING THAT COULD BEGIN ARE WHERE A DRILLER ALREADY HAS A PERMIT.
[14:02] {RonS} ...sorry about the caps...
[14:03] {RonS} great quote:  all they need to do is show Barry how to play golf off a rig...
[14:04] {dino} lol
[14:04] {Threei}  I swear APC is going to lose 42'
[14:04] {dino} hl slb l .25
[14:05] {Threei}  AONE Pacific Crest Raised AONE to Outperform from Sector Perform, price target: $12
[14:05] {Les} been shorting slb from .50 after dino jumped ship
[14:06] {dino} out .47, +.22
[14:06] {dino} .25-.55 ranging
[14:06] {Les} last quarter stopped b/e
[14:06] {Les} yeh too fast to post. half cover .40 quarter .30 1:3 missed by .02
[14:06] {dino} atpg about .95 to .09
[14:07] {Threei} Short Setup: APC  .05 break
[14:07] {dino} do dk
[14:07] {Threei}  invalidated above .20
[14:07] {dino} below announcement
[14:08] {dino} brb
[14:11] {Les} fad if invalidated?
[14:11] {Les} fade
[14:11] {Threei}  no idea
[14:14] {dino} now slb goes
[14:15] {dino} hl s slb .70
[14:17] {Threei}  APC...
[14:18] {Threei}  grrr
[14:18] {dino} cov slb .36 rigs idled on the ban
[14:18] {Les} I took it
[14:18] {dino} cov nope, typo
[14:18] {Les} failed on the long side
[14:19] {dino} 36 rigs idle
[14:19] {dino} break .50
[14:19] {Les} covered half .86 +.18, 1/4 .76, last quarter aiming for .66
[14:20] {Les} done all out
[14:21] {dino} good girl, cov slb .40, +.30
[14:21] {dino} do lod
[14:21] {nemo} nice Leslie
[14:21] {Les} no worries mark
[14:21] {nemo} list
[14:22] {Les} let me check my inbox. what's the family name?
[14:22] {Les} something foreign...
[14:22] {Les} I obviously need to write a letter to the president
[14:22] {nemo} noticed it ends in a vowel, and what country is just south of you with a very nice, shall we say, underground organization
[14:23] {Les} send me a recommendation. would love to catch up on your family this summer :)
[14:23] {Threei}  after doing that Les, every time you hear knock on the door come out with your arms stretched forward
[14:23] {nemo} have to go to sicily
[14:24] {Threei}  APC... why oh why did you have to invalidate my entry
[14:24] {Les} I reestablished trade vad when APC didn't follow thru on longside when market was bouncing. dunno if that's valid or not?
[14:25] {Threei}  it dropped into trigger in one 20 cents swoop move
[14:25] {Threei}  no way I'd take such entry
[14:25] {Les} ok
[14:26] {Threei}  it may seem brilliant in this particular case
[14:26] {Threei}  in real trading stats, this kind of entries will kill you
[14:28] {dino} dndn nemo?
[14:29] {nemo} I think it tops out at .60 at most
[14:29] {nemo} but I have no solid read on it
[14:30] {dino} do hl l .00
[14:35] {dino} do out .25, +.25
[14:35] {RonS} gj dino
[14:35] {dino} toughie
[14:35] {RonS} no kidding
[14:35] {dino} lol
[14:43] {nemo} dndn touched .60 and backed off
[14:48] {RonS} US) Mineral Management Service (MMS): Deepwater drilling companies must meet new safety rules before provided authorization to resume operations
[14:51] {Les} lvs .30 b/d?
[14:52] {Threei}  one more bounce first desirably
[14:52] {Threei}  to reinforce resistance vs double bottom bounce
[14:52] {Threei}  ideally, topping uner .40, better yet .35
[14:53] {dino} gut says this move is headfake
[14:53] {Threei}  down move you mean?
[14:53] {dino} no up, but so far wrong
[14:54] {Threei}  we are testing 110
[14:54] {Threei}  which is significant support
[14:55] {dino} anat sm l .94 thin, wide ,risky
[14:55] {dino} itri sm l .03
[14:57] {Les} got a read on HAL vad?
[14:57] {Threei}  26 break short or .10 long...
[14:58] {Les} ok ty
[14:59] {dino} should not come into play today, but first gaps 6/14 at 10190, 1845, 1089; then 6/9 at 9899, 1778, 1055
[15:04] {dino} your .60 wall holds dndn nemo
[15:05] {nemo} voices in my head
[15:06] {dino} me too
[15:06] {nemo} they keep saying "Kill Les"  "Kill Les"
[15:06] {dino} mine keep me up at night
[15:06] {Les} This is not a trading room... you are entering "the twilight zone"
[15:06] {Les} FRIKIN DIE HAL
06[15:09] * Threei puts a grenade in HAL's pocket
[15:10] {Les} ooh you brought back memory of grenade disaster at infantry training
[15:10] {Les} wasn't nice
[15:10] {Les} and no nemo I don't have a colostomy bag
[15:10] {nemo} it obviously wasn't enough of a disaster
[15:11] {Les} not for me anyway
[15:11] {Les} 1:1 hal half out
[15:11] {nemo} dead is good.  1/2 dead...not good
[15:11] {Threei}  1:1
[15:11] {Les} tore the young digger in half
[15:11] {nemo} dead is good
[15:11] {shorty} wow
[15:12] {Les} like this mining tycoon dead in cameroon
[15:12] {Les} $1B personal fortune
[15:12] {Les} poof all gone
[15:13] {Les} you think you're at the top of your game...
[15:14] {Les} 110 is proving decent support
[15:14] {dino} .60 gone
[15:15] {nemo} I was just thinking it might break it
[15:15] {dino} hammer to ice
[15:17] {Les} 2nd half stopped flat
[15:18] {Les} big vol m oving in HAL
[15:20] {shorty} would l .10 still be in play for HAL Threei?
[15:21] {Threei}  nah
[15:21] {Threei}  unless it pulls back,
[15:21] {Threei}  holds above 26
[15:21] {Threei}  then breaks
[15:21] {shorty} ok
[15:24] {nemo} I'm off c u 2morow
[15:24] {Les} ciao
[15:25] {larisa} bye nemo
[15:25] {dino} cya
[15:25] {RonS} cya nemo
[15:25] {Threei}  take care nemo
[15:31] {shorty} d/b HAL?
[15:32] {Threei}  only is market reverses
[15:38] {dino} plcm drop
[15:39] {Threei}  US) Senator Dodd (D-CT): Sees a "tighter" version of the Volcker Rule, along the lines of proposals by senators Merkley and Levin
[15:43] {Threei}  - Earlier in the process, Merkley and Levin proposed an amendment that would create a statutory ban on proprietary trading instead of leaving it up to regulators to set rules on prop trading. Their amendment failed in the Senate.
[15:44] {Threei}  idiots with their tweaking
[15:48] {RonS} good night to you all  :)
[15:49] {dptl} have a good evening all
[15:49] {Threei}  take care ron, dp
[15:50] {dino} cya ron, dp
[15:50] {dino} dji -2.9% since yesterdday hod
[15:51] {shorty} Cya tomorrow guys.
[15:51] {Threei}  take care shorty
[15:51] {dino} 3.2% s/p, 3% ndx
[15:51] {dino} cya shorty
[15:51] {shorty} :)
[15:52] {dino} going for lod
[15:59] {dino} stopped itri -.40
[16:01] {Threei}  thank you all, have a good evening
[16:01] {Threei}  see you tomorrow
[16:02] {dino} thx all, good time

Fri Jun 18 2010

Two very nice charts to sustain your educational needs over the weekend. One is "setup within setup", I attach the chart with annotations and please read the explanations in the log starting from 10:23 to 10:38.

Another is short off the double top setup, using bounce into resistance. Read comments from 11:21.

Session Time: Fri Jun 18 00:00:00 2010
[08:32] {Threei}  British Petroleum plc Moody's downgrades rating to A2 from AA2; all ratings remain on review
[08:32] {Threei}  - This assessment reflects a substantial upward revision of the estimated size of the leak, the continued failure to bring the leaking Macondo well under control, and the mounting costs and claims for damages. Moody's believes that costs for containment, clean-up, litigation and fines are likely to be higher than the rating agency had previously expected in view of the widespread and continuing physical and economic damage.
[08:32] {Threei}  XAU/USD Spot Gold Spot gold hits fresh all-time highs above $1,255/oz
[08:45] {hawk} good morning
[08:51] {Threei}  hawk :)
[08:56] {dptl} good morning
[08:57] {bellowsbunch} gm
[08:57] {Threei}  dp, bellow :)
[08:58] {Threei}  Russia has been the most vocal of the BRIC nations on the desire to create/implement a new reserve currency. On Sept 18th 2009. Russian PM Putin commented that there was a need for several reserve currencies. Back on March 2009 ahead of the April G20 Summit in London Kremlin Aide Dvorkovich noted that Russia supported the ruble and yuan as new reserve currencies In early June 2009 on CNBC television Russian President Medvedev suggested that there should be a new basket of strong regional currencies to replace the dollar as the world's reserve currency
[09:02] {hawk} Vad, do you know if you can link the quote board with  a chart in Laser so u could click on a symbol and the chart would change?
[09:03] {Threei}  I don't use quote board, not sure
[09:03] {Threei}  try
[09:03] {dptl} go window set link
[09:03] {Threei}  link it the usual way and see if it works
[09:04] {hawk} tried it, no workie
[09:04] {Threei}  dp, works for you?
[09:04] {dptl} yes
[09:04] {Threei}  hawk, he is all yours :)
[09:04] {dptl} you have to make new link
[09:05] {dptl} in the set link menu
[09:08] {hawk} hmm, still won't work, i'll mess with it a bit.  thanks dp
[09:09] {Threei}  you let him off the hook too easy hawk
[09:10] {Threei}  short of flying out and actually doing it, everything is fair game
[09:11] {hawk} lol, new link, Boardview: Hot with stock Chart.  Still won't work
[09:12] {dptl} are you using board view clasic?
[09:12] {hawk} yes
[09:13] {dptl} use board view plus....much easier to put symbols in and it works with linking to enything
[09:13] {hawk} ah, ok, trying
[09:13] {dptl} anything
[09:13] {Threei}  I like "enything"... makes me feel beter about my typing
[09:13] {dptl} :)
[09:13] {Threei}  I mean typein
[09:14] {Threei}  or tiepeinq
[09:14] {dptl} lol
[09:14] {Threei}  I'll stop it before Raven fainted
[09:16] {shorty} hello everyone
[09:16] {Threei}  shorty :)
[09:17] {ese} good morning.....
[09:17] {Threei}  ese :)
[09:18] {ese} once again from first hand experience.......i can whole heartedly reccomend buying a hot tub
[09:18] {ese} just got out......am relaxed and ready to go
[09:19] {shorty} is it one of those salt water hot tubs?
[09:20] {ese} nope....never heard of that shorty
[09:21] {hawk} got it dp, thanks!
[09:21] {dino} gm all
[09:21] {larisa} gm :)
[09:21] {RonS} gm all
[09:21] {Threei}  dino, larisa :)
[09:21] {Threei}  ron :)
[09:22] {Threei}  told youi hawk, don't let him off the hook that easy :)
[09:22] {dptl} :)
[09:22] {hawk} :)
[09:22] {shorty} I heard they are less maintenance.  I would love to have a hot tub.
[09:27] {lasertrev} morning
[09:27] {Threei}  trev :)
[09:27] {ese} salt water less maintenance.......hmmmmmmmm
[09:28] {ese} don't know about that one
[09:29] {Threei}  keeping ana eye on GLD, among other things
[09:29] {Threei}  other things being usual suspects
[09:29] {jfjf64} mornin
[09:30] {Threei}  jf :)
[09:31] {shorty} I guess I can't comment on that ese.  But man that would be nice to step into a hot tub in the morning regardless if it's salt water or not.
[09:31] {Threei} Long Setup:  GLD  123 break if holding above .90
[09:31] {Threei}  I'd prefer deeper pullback
[09:31] {Threei}  but ready to try this
[09:32] {Threei}  BP sharp selling
[09:33] {Threei}  AA Russia to increase aluminum purchases (11.23, +0.05, 0.45%)
[09:35] {jfjf64} amln .38 break
[09:35] {Threei}  GLD, no go
[09:37] {Threei} Long Setup:  LVS  .85 break if stays above .75
[09:38] {Threei}  invalidated but not off radar
[09:39] {Les} morning
[09:39] {Threei} Long Setup:  BP  .45 half lot
[09:41] {Threei}  stop under .30
[09:42] {Threei} Short Setup: WFC  .85 break
[09:44] {Threei}  .50 is critical fot BP
[09:45] {Threei}  prolonged battle
[09:45] {Les} gld had its pullback. breakout ok here?
[09:46] {Threei}  probably...
[09:46] {Threei}  BP no go
[09:47] {Threei}  whole week is so annoying
[09:47] {jfjf64} loosers  out  of  way
[09:48] {Les} wfc still good to go stopwise?
[09:49] {Threei}  .96 is resistance so far
[09:49] {Threei}  sure
[09:50] {Threei}  I'd prefer normal stop placement, above 28
[09:50] {Les} sure
[09:51] {Threei}  HAUP Strength being attributed to BBY carrying their products in July (2.70, +0.22, 8.84%) (related BBY )
[09:54] {Threei}  doesn't feel like there is any direction
[09:55] {nemo} opex day...mmmmhhhh....vodka.....opex day....vodka...tough call
[09:56] {jfjf64} how  did  celtics  blow  that  gm
[09:56] {Les} sounds good nemo. whisky it is.
[09:56] {Les} not for you though. too early
[09:57] {nemo} no Kendrick Perkins=no rebounding, no Ray Allen, no offensive diversity
[09:57] {shorty} Ahhh Les, whiskey is a fine beverage.
[09:57] {nemo} nevermind Ron Artest having an offensive rocket shot
[09:57] {Threei}  if charts are any indication, low volume bounce is over,
[09:57] {jfjf64} vxx .50 break
[09:57] {Threei}  down from here
[09:58] {jfjf64} hold .45
[09:58] {Threei}  SPY 111.40 break is needed to send things down screaming
[09:59] {Threei}  let's tighten things up a bit, WFC stop to above .95
[10:00] {Threei}  protect ourselves against double bottom scenario
[10:08] {Threei}  third test of the low
[10:08] {Threei}  new low
[10:08] {Threei}  come on WFC, time to roll over and die
[10:08] {Threei}  good boy
[10:09] {Les} I scalped .79. letting it go
[10:11] {Threei}  this .75 area was somewhat fuzzy from decision-making point of view,
[10:12] {Threei}  it was about 1:1 if take the resistance literally
[10:12] {Threei}  butr WFC is one of the weakest among financials, weaker than FAS
[10:12] {Threei}  but market can't define direction
[10:12] {Threei}  so, kind of discretionary
[10:12] {RonS} wanted .73...screwed the pooch for .01...waiting
[10:13] {Threei}  hard to tell
[10:13] {Threei}  FAS is one of the weakest sectors, and WFC is one of the weakest in it
[10:13] {Threei}  so... both ways have right to exist
[10:14] {Threei}  who wins, patient ones or scalpers, remains to be seen
[10:15] {RonS} wfc on the HFT fave list...they run it up and down for penny scalps
[10:16] {dino} cstr?
[10:17] {Threei}  no news
[10:17] {nemo} little late to the party on that one dino
[10:17] {nemo} look for consolidation?
[10:19] {Threei}  guess what
[10:19] {Threei}  scalpers win
[10:20] {Les} yeh give me .05 and get me out. one of those days again...
[10:21] {ese} not doing much been following uaua but thats about it
[10:21] {Threei}  5 points range S&P
[10:21] {Les} was mightily impressed by .80 rally on FAS et al. yesterday at close
[10:23] {Threei}  look at LVS 1 min
[10:23] {Threei}  C&H in the making,
[10:23] {Threei}  cup has formed with rim .85
[10:23] {Les} aggressive entry?
[10:24] {Threei}  handle is slightly over half complete
[10:24] {Threei}  I'd observe a little bit more
[10:25] {Threei}  maybe like this if you want to be aggressive:
[10:25] {Threei}  mini-range .65 - .75 within that bigger formation
[10:25] {Threei}  .75 break entry
[10:25] {Threei}  stop underr .65,
[10:25] {Threei}  and count on future .85 break
[10:25] {jfjf64} i  lk
[10:25] {Threei}  with half out into the spike
[10:25] {Threei}  and ride the rest
[10:26] {Threei}  as with all aggressive entries odds of working are less, reward if works is much bigger
[10:28] {Threei}  RU) Russian official reportedly says Russia plans RUB72B of govt asset sales in 2010; says no need at this point to privatize Gazprom, Rosneft, or Russia Rail
[10:29] {Threei}  isn't it funny that for them privatization of huge corporations is simply a matter of "need or no need at this point"
[10:29] {Les} was gonna ask does this mean russia is out of money too?
[10:29] {nemo} The Tsar does what he wants-Putin
[10:31] {Threei}  1:1 is close... will we break or won't we
[10:31] {Les} half out
[10:32] {Threei}  {LVS} we so will
[10:32] {Threei}  half out .88
[10:32] {Threei}  follwoing the plan to the letter
[10:32] {Les} stop b/e?
[10:32] {Threei}  taking advantage of aggressive entry by securing profit and cutting down on risk
[10:33] {Threei}  under .75 or under .70, both are reasonable and deopend on personal preferences
[10:33] {shorty} Thanks Threei.  THat was fun.
[10:34] {Threei}  very clean read, and interesting setup
[10:34] {Threei}  I like this kind of things, mini-setup within bigger one
[10:34] {Threei}  bigger one provides general read and idea of the trade, mini-one provided particular entry and allows better risk management
[10:34] {shorty} I took at .76 with stop to .65 exit .88
[10:35] {Threei}  now, look at what you did from this point of view:
[10:35] {Threei}  "standard" players took .85 break
[10:35] {Threei}  with at least 15 cents risk
[10:35] {Threei}  and got 3 cents reward for that so far, ednuring pullback now
[10:36] {Threei}  by structuring trade as we did, you essentially tok a role of smart money
[10:36] {Threei}  being in in advance, foreseeing the setup crowd was countin on,
[10:36] {Threei}  selling to the crowd as it rushed in
[10:36] {Threei}  having 10 cents risk, less than theirs,
[10:37] {Threei}  having 12 cents reward while they were just entring
[10:37] {Les} 1/4 .90
[10:37] {Threei}  1:2
[10:37] {Threei}  1/4 more our .94
[10:37] {Threei}  they don't even have 1:1 yet
[10:37] {jfjf64} look  rig
[10:38] {shorty} A beautiful trade that was.
[10:38] {Threei}  this is the most pleasant part of thw whole thing - being smart money, being one step ahead
[10:38] {hawk}  GLD shining
[10:38] {Threei}  took that 123 break?
[10:38] {hawk} yep, .02
[10:38] {Threei}  :)
[10:39] {ese} L gmcr 1/2 lot .99
[10:39] {Les} all out .99
[10:39] {Les} ty
[10:39] {Threei}  welcome
[10:39] {Les} definitely back in black now
[10:40] {dino} cstr hl l .75
[10:40] {Threei}  if not making up for everything monetary, this one is very satisfactory morally, lol
[10:40] {nemo} morals?
[10:40] {nemo} Vad...morals...gag
[10:40] {Threei}  oh, let me pretened I have any for a second, will ya
[10:40] {shorty} lol nemo
[10:46] {shorty}  STX Threei?  c/h
[10:46] {shorty} It's not a fast mover
[10:46] {Threei}  chart formation wise yes, but it's so narrow
[10:47] {shorty} LVS moves that much in 5 min
[10:47] {Threei}  unless you are going for scalp type I, nothing to bother for
[10:47] {dino} rino sm l .54
[10:47] {shorty} ese type of scalp
[10:48] {ese} which one shorty?
[10:48] {ese} I'm watching paint dry with gmcr
[10:48] {shorty} STX, need a lot of shares.
[10:49] {shorty} It's like watching paint dry too
[10:50] {shorty} You need a waterproof keyboard ese and trade from your hot tub.
[10:50] {Threei}  also protects against drooling during the nap
[10:50] {shorty} lol
[10:50] {ese} indeed
[10:50] {hawk} the wrinkly fingers get in the way
[10:50] {Threei}  fingers??
[10:50] {RonS} dino thx cstr +.53
[10:50] {dino} gj, yw
[10:50] {hawk} from being in the hot tub too long
[10:50] {Threei}  you mean people type with something other than elbows??
[10:51] {dino} nose wad
[10:51] {Threei}  lord... maybe that explains my typing... elbows and knees m8ight not be optimal...
[10:52] {nemo} rig coming into support at .25, missed
[10:52] {dino} out cstr .340, +.65
[10:53] {hawk} nice
[10:53] {dino} out .40, fat fingers
[10:53] {dino} ty
[10:56] {nemo} market going for another leg up?
[10:56] {ese} out gmcr .09 +.10
[10:57] {ese} out on the spike.....just keepin the skills up
[10:58] {RonS} dino, check out iflg...big ranges...
[10:58] {RonS} gj ese
[10:59] {shorty} quick scalp BP .10
[10:59] {Threei}  on what side shorty?
[10:59] {shorty} .04 break covered .94
[10:59] {Threei}  ok
[10:59] {Threei}  good one
[11:00] {shorty} t&s showed weaknedd
[11:00] {Threei}  was concerned you might succumb to the catching falling knives
[11:00] {ese} tks ron
[11:00] {shorty} I still do Threei, and I hate it.
[11:00] {shorty} I have not done it in awhile though.
[11:00] {Threei}  simple recipe:
[11:01] {Threei}  just don't do it
[11:01] {shorty} lol
[11:01] {Threei}  seriously... you may find a lot of people all over the net selling you very complicated and very involved ways to bring up this and that in yourself,
[11:01] {Threei}  but simple truth is,
[11:02] {Threei}  as soon as you get the big picture down,
[11:02] {Threei}  start understanding what market is and what your place in it is,
[11:02] {Threei}  you can simple do or stop doing this or that
[11:02] {Threei}  (CH) White House: A market based FX rate in China would be better for the worldwide economy; Govt will update currency report after G-20 summit
[11:02] {Threei}  - The US Treasury's semi annual currency report was delayed in early June chiefly because Chinese President Hu was making a state visit to the US at that time.
[11:02] {Threei}  - Note: Historically it is not uncommon for the Treasury to miss the deadline for publishing the currency report.
[11:04] {Threei}  I understand their logic about china currency,
[11:04] {Threei}  my concern though is:
[11:04] {Threei}  the ourtvomes of this move are so deep and wideand all-encompassing,
[11:05] {Threei}  I simply can't trust these folks to calculate them even roughly
[11:05] {dino} sm s veco .85
[11:06] {dino} bstop is .21
[11:07] {ese} i'm with ya dino sm .86
[11:08] {ese} s also
[11:08] {dino} ok
[11:08] {dino} v hl l .90
[11:13] {dino} v stopped -.11
[11:16] {ese} veco stop to .break even
[11:17] {ese} .69 cover
[11:17] {dino} .55 support area imo
[11:17] {ese} good enough.....tks dino
[11:17] {dino} need to break it
[11:17] {dino} :D
[11:18] {ese} good luck with the rest of it
[11:20] {dino} bstop to .51
[11:21] {Threei} Short Setup: LVS  .90 break if stays under 27
[11:22] {ese} nice........classic dino
[11:22] {dino} cov 50, +.35
[11:22] {ese} as the british would say paaaaaaaa fect
[11:23] {dino} ty
[11:23] {ese} sure is hard to find stuff these days
[11:24] {Threei}  LVS, let's try aggressively
[11:24] {Threei}  with stop above 27.10
[11:24] {Threei}  double top play
[11:25] {Threei}  let it go over 27 and short recross
[11:25] {Threei}  or if market drops, short .97
[11:28] {Threei}  cover half here or take scalp
[11:28] {Threei}  personal choice
[11:29] {Threei}  stop for the lanace above 27
[11:30] {dino} gifi
[11:31] {shorty} missed LVS short....darn
[11:33] {dino} gifi sm s .27
[11:39] {RonS} apc...hearing bp says partners not involved w/ 20 bil fund
[11:40] {dino} gifi stopped -.30
[11:41] {Threei}  shorty, if took second chance, partial out here
[11:41] {Threei}  who is holding balance, try to bid closer to .80
[11:42] {RonS} ..trying .82
[11:42] {Threei}  looks about right
[11:42] {shorty} no guts, watched it.
[11:44] {Threei}  no gurts for 2-3 cents stop?
[11:44] {Threei}  man, you need to rethink your risk tolerance :)
[11:45] {shorty} lol....godd point
[11:45] {shorty} *good
[11:45] {RonS} pussed out...+10  lvs thxs
[11:46] {RonS} apc, see a setup 3i?
[11:46] {Threei}  well
[11:46] {Threei}  bounce from about 20 cents lower
[11:47] {shorty} I saw it as 3 cent risk, but if it would have past my stop, It probably would have turned into a 10 cent risk......working on that Threei.  I know, it's bad.
[11:47] {Threei}  about here, Ron, .70 - .80
[11:47] {Threei}  too volatile to tell more precisely
[11:48] {Threei}  10, no shorty, LVS is not that volatile
[11:48] {Threei}  can do couple cents slippage, not 10
[11:48] {Threei}  ok Ron, hunt from here
[11:49] {Threei}  stop under .50
[11:49] {Threei}  exact entry is all but impossible to call
[11:49] {shorty} oh...ty
[11:51] {RonS} apc sm l .55
[11:56] {Threei}  btw shorty
[11:56] {Threei}  if LVS comes to 27 third time, do not short it anymore
[11:57] {shorty} ok..thanks
[11:57] {Threei}  drwa the line from the second top 11:08 and lower highs after that, you'll see why
[11:57] {Threei}  draw
[11:58] {Threei}  sorry, more precisely:
[11:58] {Threei}  start the line from first top, 10"58
[11:58] {shorty} past res from that line
[11:58] {RonS} out apc -.20
[11:59] {Threei}  Ron, didn't want to distract you while you were in trade,
[11:59] {Threei}  when a volatile stock comes this close to important support as APC did to .50,
[12:00] {Threei}  don't buy it outright,
[12:00] {Threei}  let it break the support, dive, establish low, then recross it for an entry
[12:00] {RonS} got it
[12:00] {Threei}  There is one exception to it,
[12:00] {Threei}  the case where it drops into such support very sharply
[12:01] {Threei}  then the chance of bounce off it is high,
[12:01] {Threei}  but when it comes close to support, hesitates, pauses, ranges a little,
[12:01] {Threei}  odds are it will break support
[12:01] {RonS} i thought this had that chance but it ran inot the noon hour and the vol was not there
[12:01] {Threei}  shake out premature buyers
[12:02] {Threei}  then recover
[12:02] {Threei}  you can see that period of hesitation above the support
[12:02] {Threei}  that was luring in,
[12:03] {Threei}  tempting buyers, collecting them,
[12:03] {RonS} yes...so .60 break next entry?
[12:03] {Threei}  then killing them by losing spport, and as they rushed for exit, bottom fell out
[12:03] {Threei}  depends on where it establishes support
[12:03] {Threei}  I would porefer .50
[12:04] {Threei}  it has more significance
[12:04] {Threei}  but the stock is so volatile that we are talking about fuzzy zones rather than exact numbers
[12:05] {Threei}  in any case, use whole thing as illustration for understanding of how these psychological things work
[12:05] {Threei}  shaping up the chart,
[12:05] {Threei}  provoking action, faking out etc
[12:05] {Threei}  underlying motive is the same: what is exceedingly obvious is usually wrong
[12:06] {Threei}  and real action starts after those who went for obvious are gotten rid of
[12:07] {dino} hl s gifi .68
[12:10] {Threei}  see the continuation of the logic Ron?
[12:10] {Threei}  granted, it was hard to apply on this particular one because of its extreme volatility, but it will work for you many times over on more "normal" stock
[12:10] {Threei}  stocks
[12:11] {RonS} yes
[12:11] {Threei}  last LVS trade is not resolved still for the second half
[12:12] {Threei}  speaking of these patterns, noticed how well LVS follows most of them?
[12:12] {Threei}  our two winning trades yesterday closer to end of day on it, worked like charm,
[12:12] {Threei}  this long previouslt for C&H,
[12:12] {Threei}  this short
[12:13] {Threei}  APC, .50 buyer on recross would be exiting here now
[12:14] {Threei}  heck, even .60 one would
[12:14] {hawk} just got out from .57, thx for the mention Ron
[12:15] {hawk} small
[12:15] {RonS} gj hawk
06[12:15] * Threei slaps hawk around a bit with a large roll of cash
[12:15] {hawk} stopped on the first try
[12:21] {RonS} dino, whatcha think of cstr lod breakdown and re-cross l entry?
[12:22] {hawk} LVS
[12:22] {RonS} under 3i's criteria of sharp break and reversal...
[12:24] {dino} cov .38 gifi +.30
[12:24] {Threei}  1/4 more out at .82,
[12:24] {dino} cstr, hmm, feels lower
[12:25] {Threei}  last 1/4 out at .74
[12:25] {Threei}  if that's not a pure beauty
[12:26] {hawk} nice dino, and Vad
[12:26] {dino} i like the idea ron, watching it
[12:26] {dino} ty hawk
[12:28] {RonS} cstr feels like breakdown and i cannot short
[12:29] {dptl} leaving early.....have a good weekend all,see ya monday........Nemo,don't drink to much :)
[12:29] {Threei}  hah!
[12:29] {nemo} how much is too much???
[12:29] {Threei}  pottle-kettle
[12:29] {shorty} good weekend dptl
[12:30] {hawk} lol
[12:30] {Threei}  take care dp, have a good one :)
[12:30] {RonS} bye dp
[12:30] {Threei}  BP Chairman: First of the two relief wells has reached within the 200 ft of the leaking well; drilling speed must slow as they approach the well - TV interview
[12:32] {Threei}  you out LVS ron?
[12:32] {RonS} yep
[12:34] {RonS} hard for me to tell if these cstr bids are real
[12:34] {Threei}  you can't, until you see how they behave when sold into
[12:34] {dino} cya dp
[12:35] {Threei}  if they disappear at first sign of selling into them, they are fake
[12:35] {Threei}  if stay and absorb, real
[12:35] {dino} holds well imo
[12:35] {RonS} these bids are pimping the price
[12:35] {Threei}  meant to
[12:36] {RonS} man, was i a sucker for this action...for years...
[12:36] {Threei}  and then you saw the light?? :)
[12:36] {RonS} no, i heard you...and the light went off
[12:37] {Threei}  oops
[12:37] {Threei}  sorry
[12:37] {RonS} ..or on, i should say
[12:37] {Threei}  ah... not sorry then
[12:37] {Threei}  lol
[12:37] {Threei}  {nemo} as if you were sorry in any case
[12:38] {nemo} where the hell did you get that?
[12:38] {Threei}  read your mind
[12:38] {nemo} I'm busy
[12:38] {Threei}  so, yeah... in hell {G}
[12:40] {dino} hl l cstr .65
[12:42] {nemo} fcx might be bounce candidate here at 200 ma
[12:43] {hawk} news APC?
[12:43] {nemo} it's at the open here
[12:43] {nemo} fcx tht is
[12:44] {Threei}  yes
[12:44] {Threei}  (US) US Rep Markey (D): Other BP partner companies involved with the oil spill should pay into a relief fund
[12:44] {Threei}  - Feels Mitsui and Anadarko should help pay for costs associated with spill (BP has 65% stake in Gulf oil field where spill occurred; APC and Japan"s Mitsui are partners in the field )
[12:46] {hawk} thx vad
[12:54] {Threei}  nemo... good news
[12:54] {nemo} I can drink?
[12:54] {Threei}  world's progress depends on us
[12:54] {Threei}  look:
[12:54] {nemo} ?
[12:55] {Threei}  The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. '
[12:55] {Threei}  George Bernard Shaw
[12:55] {nemo} Yeah, but the underlying point, is you have to get rid of alot of people
[12:55] {Threei}  so?
[12:55] {nemo} I can't afford enough ammo
[12:56] {Threei}  it's easy
[12:56] {Threei}  hide in the bushes, shoot a little both directions, get out - they will finish it all by themselves shooting each other
[12:56] {nemo} wow...you bored?
[12:57] {Threei}  at least that's how I used to manoevre between mafia and corrupted police :)
[12:57] {Threei}  and yes, bored
[12:57] {dino} i froze cstr
[12:57] {Threei}  no clear trades
[12:57] {Threei}  lol dino
[12:58] {RonS} i am waiting for and .80 break up or a breakdown to .20
[13:01] {nemo} apc at the 200 again
[13:01] {nemo} got that trend line resistance going though
[13:02] {dino} there you go
[13:02] {RonS} got away from me...glad you are on the right side
[13:03] {dino} stop to .98
[13:06] {dino} veco back to range top
[13:06] {Threei}  be back in 20
[13:07] {dino} stop to .10
[13:07] {nemo} likely top around .30 dino
[13:08] {dino} running tight
[13:08] {dino} to .15
[13:08] {dino} to .20
[13:09] {dino} out .19 slip, +.54
[13:09] {RonS} veco shows 17% float short, 7.5 mil shares
[13:09] {RonS} gj dino
[13:09] {nemo} ok, I was off by .02
[13:09] {hawk} nice one dino, took it for +.22, thx
[13:09] {dino} about the only thing moving
[13:10] {dino} ty, gj
[13:14] {dino} good top call nemo
[13:14] {nemo} lucky
[13:15] {RonS} i thought nemo was taliking about veco...lol
[13:26] {Les} all is silent on the western front?
[13:27] {Les} ... as the tumbleweed rolls through the chat room
[13:29] {RonS} we've been ripping it up in a light tape Les
[13:29] {RonS} w/ opex, dicey from here imo
[13:32] {Threei}  back
[13:32] {Les} yeh I chose gardening instead of the tape. I can only drink so much whiskey...
[13:36] {shorty} I have a maintenance free lawn.  I get these beautiful yellow flowers that grow randomly on my lawn.
[13:37] {Threei}  (CA) Canada sends letter to G20 urging countries halve their deficits by 2013
[13:37] {Threei}  someone died and designated Canada a king of the world?
[13:37] {hawk} lol shorty
[13:41] {Les} well Australian PM has shown himself to be a dunce
[13:41] {Les} so Canada takes moral leadership...?
[13:41] {RonS} Oh Canadaaaaaa...
[13:41] {Les} no one likes Merkel anymore
[13:43] {RonS} ya know, this drilling moratorium really steams me.  I liken it to having a bloody nose, and sticking yourself in the eye to fix it.  Those people on the Gulf are being devastated by rampant stupidity.
[13:47] {Threei}  while Canada certainly handled whole situation much better than most, it's just doesn't look big/important enough on the world scene to play the role of "we will tell you how"
[13:47] {Threei}  (US) Reportedly Senate passes bill that delays medicare payment cut for doctors (as expected)
[13:50] {dino} ron, i'm w/you. plus the only reason we drill in those deep waters is because govt won't let us access land sites
[13:50] {nemo} or shallow water sites
[13:50] {Threei}  all of which are much safer
[13:51] {dino} i am in marcellus shale area, and they have just put a halt on all shale drilling, fear factor from this gulf accident, costing jobs here too
[13:52] {dino} it seems to me that i should be compensated if they do not allow the drilling
[13:52] {Les} ah right I remember your claims dino. so spillover effect everywhere in the US?
[13:52] {dino} yes
[13:53] {Les} dumbasses
[13:53] {nemo} you should feel at home with them Les
[13:53] {Les} let's see how US motorists likes $5 gallon petrol
[13:53] {nemo} sorry
[13:53] {Les} that was a low blow nemo
[13:53] {nemo} not really
[13:53] {shorty} lol
[13:53] {nemo} Can't help myself
[13:53] {Les} par for the course for you
[13:54] {dino} they are. not like we stop using gas and oil, just spending money overseas for it, costing usa jobs, trade deficit, money to unfriendly nations, etc. they do not think ot through
[13:54] {nemo} You serve 'em like that, gotta' hit them outta' the park
[13:54] {Les} fair enough
[13:54] {RonS} ...there is nothing about fear with this. the dem agenda is to skyrocket energy prices for the purpose of alt enrgy dreams and punishing everyone to get on the federal reservation.  'nuff said. i will stop.
[13:55] {Les} rig breaking its range
[13:55] {dino} yes, obamination is pushing his clueless agenda. just like his joke of nuclear free world. the guy just doesn't get it
[13:55] {nemo} 200 at about .20
[13:56] {Threei}  I am in the same cart as you Ron... that's how I see things
[13:56] {Threei}  I am also interested in LVS again
[13:56] {Les} starting to like RIG. once it busts the 200
[13:56] {Threei}  no clear setup yet, watching
[13:57] {RonS} ...guess rig addition to the swiss index might be swiss cheese
[13:57] {nemo} it might be a quick bounce
[13:57] {nemo} may be recross .30
[13:58] {nemo} offer at .29
[14:00] {Les} nearly 50% Ron
[14:01] {Les} oh you noticed it getting extraordinary permission to join the index.
[14:01] {nemo} apc break of .60?
[14:03] {Les} s RIG .23 hl stop .35
[14:04] {RonS} check out sun
[14:04] {nemo} wow, impressive
[14:04] {Les} cover +.10 rig
[14:04] {dino} gj
[14:05] {Les} on the way down IMO. looking for another setup
[14:07] {RonS} hal may be also...
[14:08] {ese} tired of lookin all....am outta here for the weekend........happy fathers day
[14:08] {Les} lol someone telephones me and rig craps itself
[14:08] {RonS} same to ya ese
[14:08] {ese} cya ron
[14:08] {dino} cya es
[14:08] {ese} dino
[14:08] {lasertrev} ese dcc
[14:10] {Threei}  take care ese
[14:11] {Les} s rig at .19 thought it was a bounce stopped .31
[14:12] {nemo} after being up so strong, why did you think it would continue to drop?
[14:13] {Les} .19 was MA resistance. but market spiked, so did it.
[14:13] {Les} back to the bottle
[14:19] {Les} vad wfc nearing 28
[14:19] {Les} daily looks like breakout potential but with this market...?
[14:21] {Threei}  yeah, questionable
[14:24] {Threei}  maybe if market makes a strong move up but that's a tall order
[14:26] {RonS} could imax go on a further run w/ Toy Story 3 out this weekend?
[14:29] {larisa} I will say yes so you do not feel lonely :)
[14:30] {RonS} The Lonely Guy...Steve Martin  :D
[14:33] {Threei}  I will say no so you two don't feel like talking in the middle of desert
[14:35] {RonS} cie news 3i?
[14:35] {Threei}  nothing fresh
[14:36] {Threei}  but it's involved in the whole Gulf thing
[14:36] {Threei}  somehow
[14:36] {Threei}  this is from June 1:
[14:37] {Threei}  Cobalt Energy Announces Force Majeure Notification on Gulf Drill Rig
[14:37] {Threei}  - Announced that it had invoked the force majeure provision under the drilling contract with Diamond Offshore Company for the Ocean Monarch drilling rig. This rig was moored and ready to begin drilling operations at the location of our North Platte #1 exploratory well on Garden Banks 959. The reason for invoking force majeure was the steps announced on May 27, 2010 by the US Government which suspended all drilling operations in the deepwaters of the Gulf of Mexico. Cobalt had obtained all necessary permits and insurance as required by law and regulation to commence drilling operations. Cobalt believes that the direct financial impact of triggering force majeure on the Ocean Monarch will result in a net expenditure to the company of apprx $15M.
[14:37] {Threei}  - Cobalt also confirms its intent to initiate drilling operations offshore Angola in Q4 2010 or Q1 2011
[14:37] {Les} yeh let's send everyone and everything to africa
[14:38] {dino} there go more jobs and money
[14:38] {Les} the moratorium will be lifted and all the rigs and personnel dispersed around the world
[14:39] {dino} and more unemployment in usa
[14:39] {Threei}  when you beat up on business under all possible angles, excuses and pretenses, no wonfer business starts moving away
[14:39] {Les} amazing how buying the break suxs right now. WFC 28
[14:39] {Threei}  told ya
[14:39] {Threei}  but di ya listen
[14:39] {Threei}  nooooo
[14:40] {Threei}  whole "people good, companies bad", dino
[14:40] {Threei}  idiotic ideology of ideologic idiots
[14:42] {dino} living it w/you. just unbelievable how stupid they are. without business there aren't any jobs
[14:43] {RonS} depedent people and their guvmint masters good, independent thinking and doing bad.
[14:44] {Les} hey hey hey Vad
[14:44] {Les} you know what assuming makes out of us hey!
[14:44] {Les} I didn't buy the break
[14:45] {Les} I might have, if I wasn't pigging out in the kitchen
[14:45] {Les} but thats immaterial
[14:45] {Threei}  sorry Les... but you gave me enough reasons to assume that when I say "don't sdo it" you go right ahead :)
[14:45] {Les} WHAT!
[14:46] {Les} the learning is slowly sinking in happily
[14:48] {Les} getting the impression the market wants to run. maybe a pullback on wfc
[14:49] {Threei} Long Setup:  LVS  .52
[14:50] {Threei}  if stays above .42
[14:50] {Threei}  double bottom break
[14:53] {dino} brb
[14:53] {RonS} c chop
[14:54] {RonS} 100 mil vol on c in last 3 minutes
[14:55] {RonS} Smith Barney's Swotkewicz joins Merrill Lynch       06/18 12:53 PM
[14:55] {RonS} say that 3 times fast...well, maybe 3i could...
[14:58] {Threei}  not even two
[15:04] {dino} calling it a day/week. take care all, ok day, going to keep it there
[15:04] {shorty} good weekend dino
[15:04] {larisa} bye dino :)
[15:04] {Threei}  take care dino
[15:05] {dino} :D
[15:12] {Threei}  LVS invalidated of course
[15:12] {shorty} It did hit .53
[15:12] {Threei}  really?
[15:12] {Threei}  I missed it
[15:13] {shorty} Well, not me.  Stopped at .41
[15:14] {Threei}  BP Spokesperson: Company has a right to seek a contribution from partners with regards to paying claims
[15:15] {shorty} Not sure what to say about that.
[15:15] {Threei}  partners will
[15:18] {bellowsbunch} any plays?
[15:18] {Threei}  not right now... missed some earlier I guess? LVS shot off 27
[15:18] {Threei}  short
[15:18] {bellowsbunch} really
[15:19] {Threei}  BP looks like short on this .60 break but no firm read
[15:19] {Threei}  maybe if stays under .65
[15:19] {Threei}  risk is minimal
[15:23] {Threei}  nope
[15:23] {Threei}  no direction anywhere
[15:24] {Threei}  Fri, multiple witching...
[15:24] {nemo} quadruple
[15:25] {Threei}  rinse
[15:25] {Threei}  shrug
[15:28] {nemo} their goes rig again
[15:33] {Threei}  probably the dullest and most useless week yet this year
[15:33] {nemo} and it ain't even August
[15:34] {Threei}  I don;t think it's summer related
[15:34] {Threei}  this summer is not likely to be boring
06[15:35] * nemo slaps Les around a bit with a large trout
06[15:35] * nemo slaps Les around a bit with a large trout
06[15:35] * nemo slaps Les around a bit with a large trout
[15:36] {nemo} he musta' passed out
[15:36] {Les} what makes you think i am here?
[15:36] {nemo} ahhh....the evil twin
[15:36] {Les} I've got girls, booze and good food to occupy now.
[15:36] {Les} c u's monday
[15:36] {shorty} cya Les
[15:36] {Les} occupy me now
[15:36] {RonS} cya Les
[15:36] {nemo} bad visuals
[15:37] {Threei}  why do I need e-mails from angry anlters googling the net for "trout", finding our logs, then sending me furious "what does this stuff have to do with fishing??"
[15:37] {RonS} lol
[15:37] {nemo} then change the slap supplies
[15:37] {Threei}  take care Les
[15:37] {Threei}  you have the creative slaps
[15:37] {Threei}  the trout is mirc's default
06[15:37] * nemo slaps shorty around a bit with a large pair of tonfa
06[15:37] * nemo slaps shorty around a bit with a large chain mace
06[15:37] * Threei slaps nemo around a bit with a large scalping course
06[15:38] * Threei slaps nemo around a bit with a large daytrading course
06[15:38] * Threei slaps nemo around a bit with a large Master Profit Plan
06[15:38] * nemo slaps Threei around a bit with a large chainsaw
06[15:38] * Threei slaps nemo around a bit with a large chart of uptrending market
06[15:38] * Threei slaps nemo around a bit with a large book of Techniques of Tape Reading
[15:38] {nemo} Oh, are we board
[15:38] {nemo} bored
[15:38] {Threei}  you are board
[15:38] {shorty} Had to google Tonfa.....ouchy!
[15:39] {nemo} that's an understatement
[15:39] {nemo} :)
[15:39] {Threei}  I am not that curious
[15:39] {shorty} Usually I am not, but the tonfa was directed at me.
[15:41] {shorty} I thought it was a big block of tofu.
[15:42] {Threei}  look LVS
[15:42] {Threei}  exactly the same setup as one failed before
[15:42] {Threei}  but this one worked
[15:43] {Threei}  too random for my taste
[15:43] {RonS} Birinyi Associates, the research firm founded by legendary trader Laszlo Birinyi, took the daily change of the 500 members of the index and compared them to the daily change in the index itself over a rolling 200-day period. Ten years ago, stocks moved more independently at a 0.3 correlation. Today, the correlation is approaching the 0.7 mark, which basically
[15:43] {Threei}  which basically...?
[15:43] {nemo} play the indexes
[15:43] {shorty} Here is some Friday comedy : http://www.youtube.com/watch?v=QESfEd180rQ
[15:44] {RonS} means that 70 percent of the time, an individual stock’s move will match the change in the overall index each day.
[15:44] {shorty} Need the Benny Hill theme song for it though.
[15:44] {Threei}  sounds about right to me
[15:44] {RonS} "If I had to hypothesize, it is the proliferation of ETFs,” said Cleve Rueckert, the Birinyi analyst who compiled the figures. “You’re getting less specific company analysis and more of a focus on sectors."
[15:45] {Threei}  I never run stats but I do play index following way more than I used to 10 years ago
[15:45] {RonS} The analyst also cited a short-term trading mentality that is feeding on itself.
[15:45] {RonS} ...ergo, scalpers win...
[15:47] {shorty} Have a great weekend everyone.
[15:47] {Threei}  take care shorty
[15:48] {RonS} cya shorty
[15:49] {hawk} enjoy the weekend all :)
[15:49] {Threei}  you too hawk
[15:49] {RonS} good weekend all ;)
[15:50] {Threei}  thank you all
[15:50] {Threei}  have a great weekend
[15:50] {larisa} bye :)
[15:50] {Threei}  see you all on Monday
[15:50] {nemo} wiedersehen