Nemo's Findings

Multi Time-Frame Pivot Analysis

Many of you are familiar with Pivot Point analysis, which is a mathematical derivation based on previous price action.  It defines levels of probability for likely future price action.  Market Makers have often used Pivot Points across multiple time frames to find common adjacent levels between time frames that served as confluence zones - stronger levels of resistance or support ,than a single area alone.

Have you ever noticed that price stops or rises to a certain level that never particularly coincides with a previous level of support or resistance?  Oftentimes you will find that those levels coincide with prices calculated at a multi-time frame level.

I regularly employ charts of the SPY and IWM that map these levels, along with significant Fibonacci retracements, to define levels that may affect price action should they reach those levels.  Sometimes single levels end up affecting price action, many times, areas that contain multiple levels from multiple time zones, serve as confluence zones that are more likely to affect price.

Be warned, these levels are not predictive, but they do provide areas that may warrant your attention as price action approaches them.  I will provide on a weekly basis, these levels for the SPY and IWM, and will hopefully provide a recap of how those levels played out at the end of the week for the SPY to illustrate the concept.  So...

ñ     Pivot levels will be demarcated in Yellow and noted as Weekly, Monthly, Quarterly, Semesterly, Yearly.

ñ     Resistance levels will be in progressively darker blues.  The darker the color, the longer the time-frame.

ñ     Support levels will be in progressively darker reds.

ñ     Fibonacci levels will be

◦       Red-most recent swing low or high

◦       Turquoise-from July '10 swing low

◦       White-from March '09 swing low to April '10 swing high

◦       Green- (SPY only) from 2007 high-2009 low.

ñ     The 50 SMA and 200 SMA will be labeled (remember these will change daily so you will need to import the format links to adjust them)

ñ     I will also provide subjective price levels as defined by the price action..I have found that some price levels, contrary to “Candle Theory”, will continue to have some significance even after they have been eclipsed.

ñ     You will also find links to import the format into Freestockcharts.com, and you may amend them as you see fit.

The charts will look very busy on larger time-scales.  They are primarily designed to be used for the upcoming week.  The 15-30 minute scale is optimum.

For the first installment, let's do an overview of the last week. Then we will look into the next week's expectations.

                                  SPY Multi Time-Frame review for week of 9/11

1.      Between the 12^th and 13^th the 61.8% retracement off the July '10 low served as the low

^2.        The yearly pivot point put a lid on the swing high at the beginning of the 13^th

3.      The 23.6% retracement served as support for the 13^th with...

4.      Support being handed off to the weekly pivot point.

5.      Weekly R1, served as a breakout level on the 14^th, and then support based on  the hammer closing above the line.

6.      The 38.2% retracement served as  support on the 15^th and somewhat fuzzy support on the 16^th.

7.      On the 16^th price action oscillated around the confluence zone of the 61.8% retracement of the 2007 high-2009 bottom, and the Monthly Pivot Point

ñ     We can also see that the 120.90 area served as resistance and support for price action.   This level first became significant on the 2^nd of September.   

                       

                      SPY/IWM Multi-Time Frame Pivots week of 9/17

Before we consider the charts just a couple of macro comments to keep in mind:

• The Fed has promised Europe to print an unlimited amount of dollars to support their banks.
• The Fed has a Two day meeting this week. Not the usual one. There must be something relatively large on the agenda for which the bearded one is trying to build consensus

Therefore, it's a reasonable assumption that we will get an announcement that will push money towards the risk trade, therefore stocks are likely to continue higher to test the August 31 SPY swing high with the next target being the upper boundary of the recent price channel. That swing high has a relatively strong confluence area starting at 123.00 with the 38.2% retracement of the July '10 low followed by the descending 50 sma, price action resistance then comes into play at 123.60. Above that, we're into the weekly resistance levels.

For IWM, there is a relatively strong confluence area prior to the peak of the 8/31 price action, but I would expect IWM to be a good doggy and follow the pack leader higher.

http://www.freestockcharts.com?emailChartID=2918e83a-8c52-4257-bf93-b607c13867f4

http://www.freestockcharts.com?emailChartID=e7b082a6-9707-4c16-9f08-4b2af3338408

Nemo

Trade The News Weekly market update: Market Week Wrap-up

Trade The News Weekly market update: Market Week Wrap-up

- There has been something of a reversal in sentiment as the choppy, highly volatile trading environment of the last six weeks gave way to impressive, steady gains in global equity markets for five consecutive sessions, even as the Greek situation appeared to go from bad to worse. In Europe, more rumors about sovereign downgrades and imminent, non-specific "announcements" by France and Germany, and reports of poor take-up in Greece's debt swap kept investors unsettled about the future of the Euro Zone. However none of these factors ultimately derailed the upswing in equities. Following plenty of chatter last week, Moody's cut the ratings of Societe Generale and Credit Agricole and Fitch cut ratings on five Spanish regional governments, but these also did not decisively turn markets lower. News that China would continue to reinvest its FX reserves in Europe, in the bonds of challenged sovereigns as well as other assets, helped sustain markets, as did continued ECB purchases of Irish and Spanish debt. In addition, action by leading central banks to supply European financial names with a three-month dollar repo facility helped bolster sentiment. In the US there were several discouraging data reports. The September Empire State Manufacturing Survey indicated that conditions worsened for a fourth consecutive month. Realtytrac's August foreclosure index jumped more than 7% sequentially, and default notices rose 40% or more in troubled states like New Jersey, Indiana and California, reinforcing reports that banks are stepping up foreclosure efforts. The weekly initial jobless claims ticked up more than expected. The preliminary September University of Michigan consumer confidence survey inched up from the very weak final August data. Treasury yields remain very low ahead of an FOMC meeting next week that could see the introduction of "Operation Twist," although the 10-year UST edged back above 2% by week's end as funds flowed back into equities. Gold sold off modestly this week, with spot gold closing out the week around $1,800/oz. For the week the DJIA gained 4.7%, the S&P500 grew 5.4% and the Nasdaq increased 6.3%.

- Research In Motion's Q2 earnings report may be a real turning point, although whether it will be a final wake-up call for management or the beginning of the end only time will tell. Earnings and sales for the quarter missed expectations and guidance for the full-year was revised down to the lower end of the firm's prior outlook. Margins are collapsing, though management blamed the phenomenon on its poorly received Playbook product. But most notable were numbers showing that the company was losing market share much faster than expected to rivals Apple and Google. Multiple analysts slashed ratings and estimates for the name overnight, and shares of RIMM were down more than 23% in the first few minutes of cash trade this morning. In other tech disaster news, on Thursday Netflix trimmed its total domestic US subscriber outlook for Q3 to 24M v 25M prior due to attrition from its recent price increase and separation of DVD and streaming services, sending its shares tumbling through the end of the week.

- With the third quarter nearly over corporations continue to update their fiscal guidance. At its annual investor day, MasterCard was upbeat about spending levels even as the economic recovery stalls, and stated that both US domestic and global transaction volumes continue to expand in its Q3. Steel names Nucor and Steel Dynamics offered very weak guidance for Q3. Nucor said profits would be down 40-50% sequentially, reflecting lower steel prices and metal margins, particularly for sheet mill products. Steel Dynamics cut its Q3 outlook nearly in half, due to tightening profit margins in its flat rolled segment and a tough pricing environment. Patriot Coal warned that its Q3 coal output would fall by around 6% on a sequential basis due to geological issues. Following guidance cuts from leading semi names last week, Lattice Semiconductor revised cut the upper end of its Q3 revenue outlook citing softening demand trends. Materials name Solutia cut its full-year view due to flagging demand truck and bus, solar and electronic end markets. On the positive side, Aetna said that it would beat its prior guidance range for FY11, based on lower utilization and better margins, and offered a positive initial look at its FY12 assumptions. Smith & Wesson hiked its FY12 revenue outlook slightly thanks to booming business for guns.

- In M&A news, unconfirmed reports on Friday suggested that United Technology was preparing for a potentially huge acquisition, with stories indicating the firm is ready to spend $20B to nab a competitor. Analysts discussed various potential targets, including Tyco International, Honeywell, Goodrich and Textron. Follow-up press reports said that the company was looking to spend much less than the initial $20B figure. Yahoo's board met with private equity investors to discuss strategic options this week. In a filing, holder Third Point stated that it intends to remove Chairman Bostock with the help of founder and former CEO Jerry Yang. McGraw Hill disclosed that it plans to separate into two separate traded companies, following recent demands by activist investors to unlock value in the firm. Broadcom said that it had a deal to acquire NetLogic for $50/share, in a deal valued at $3.7B. The buy should expand Broadcom's lineup of chips used in wireless network equipment. Ralcorp slumped late Friday ahead of a Monday deadline set by ConAgra for entering negotiations over its $5.2B bid that Ralcorp has already rejected.

- The euro pushed out to six-month lows as of Monday as the fiscal stability of Greece further deteriorated. Comments from a range of European officials indicated that some leading European figures were coming to the realization that a Greek default could be a reality. With this scenario in sight, the EU Commission's Manuel Barroso said that the all-powerful Commission would present options for setting up a euro bond system under existing European treaties. Unsurprisingly, the Germans were not thrilled with this, and Chancellor Merkel reiterated once again that euro bonds are absolutely not a solution. Global central banks teamed up to squelch the emerging liquidity crisis at European banks, while speculation picked up that BRIC nations would ramp up investments in the euro zone, although it remains unclear to what extent they would be able to rescue Europe from itself. There were reports that the Italians were negotiating with China to buy bonds, but the weak Italian five-year bond auction on Tuesday suggested that nothing has been agreed to as of yet. Later reports stated that China was looking to make investments in Italian infrastructure instead.

- The three-month dollar repo facility launched by the Fed, ECB, BoJ, SNB and BoE on Thursday has potentially taken the risk of a funding crunch at European banks off the table. EUR/USD surged to test above 1.3935 after the announcement, although dealers were concerned that the pair was unable to regain the 1.40 handle; the pair was back around 1.3800 within 24 hours. Analysts were somewhat concerned about details regarding the mechanics of the repo facility, namely the very high 20% collateral surcharge for the three-month operations; compare this to the 12% surcharge charged for one-week repo operations. In addition, tapping these lines would temporarily increase the Fed balance sheet, creating intangible "political risk" in the United States (recall the accusations of "treason" GOP presidential hopeful Rick Perry aimed at Fed Chairman Bernanke).

- European officials gathered in Wroclaw, Poland on Friday to attend a Euro Group summit, which included a special appearance by US Treasury Secretary Geithner. Little in the way of concrete measures emerged from the meeting. Austria Finance Minister Fechter suggested that the next tranche of aid for Greece would be paid, although disbursement would be slightly later than expected, on October 14th. Greece was said to be planning to tap its domestic bank liquidity facility in order to bridge the funding gap. There was talk that Europe may be mulling a TALF-like program to help resolve the crisis, although little mention of such a program emerged from the summit. Geithner was said to have pressed the Euro Group to leverage up the EFSF, although ECB Chief Trichet later denied that any talks about bolstering the EFSF had taken place.

- Sterling benefitted from weekend press reports that UK Chancellor Osborne saw no barriers to a second round of quantitative easing if a request came from the BoE. GBP/USD also benefited from the coordinated central bank repo operation, but faced headwinds from former hawk Weale, as he noted that the risk of recession had increased since July and added that growth prospects had worsened again in recent weeks. EUR/CHF was little changed above 1.20 as the SNB reiterated its commitment to the floor. There were also suggestions that the floor could be pushed higher over time. Late in the week USD/JPY was inching higher on vague rumors the BoJ was checking FX rates in the interbank market.

- The Reserve Bank of New Zealand left rates on hold at 2.50% for the fourth consecutive meeting as expected. Accompanying RBNZ commentary struck a more cautious tone over global turmoil while downplaying improving domestic situation, spoiling expectations of reversal from a 50bps post-earthquake policy accommodation back in March. RBNZ Gov Bollard was also non-committal with regards to any policy tightening and only indicated that at some point rates will have to rise. He also expressed little concern about inflation. Private sector economists pushed back expectations for RBNZ tightening to March of 2012 from December of this year after the RBNZ statement, while NZD tested 1-month low of $0.8120.

- Beijing was once again billed as the "lender of last resort," helping risk sentiment recover early in the week on rumors of a Chinese delegation meeting Italian officials about backstopping Rome's fiscal slump with a timely purchase of government debt. Speaking later in the week, PBoC adviser Li Daokui affirmed Chinese interest in Italian bonds over the short term, but also called on the central bank to refrain from "blindly" buying large amounts of EU debt. Meanwhile, China foreign direct investment continued to slide in August, falling to 17.7% ytd/y increase, an 8-month low


TradeTheNews

Sep 16 2011

Nice day with just one stop and quite a few winning trades. Friday, quadruple witching - go figure. Not complaining though.


We are preparing a new feature for the log. If everything goes right, will publish first installment this weekend. Stay tuned.

Session Time: Fri Sep 16 00:00:00 2011
[09:05] {Threei}  Austrian finance minister: Geithner rejected idea of financial transaction tax
[09:06] {nemo} wow...it's cold here this morning (relatively)
[09:09] {Threei}  colder where RIMM is...
[09:09] {nemo} next support is 0...probably under the uptick rule for the rest of it's existence
[09:11] {Threei}  lol... Cramer on CNBC, "maybe part of this rally is related to Obama polls"
[09:18] {Threei}  RIMM is testing .50 support
[09:20] {Threei}  [15:49] {Threei} poor RIMM
[09:20] {Threei}  [15:50] {Threei} earnings after close
[09:20] {Threei}  [15:50] {Threei} most likely won't be pretty
[09:20] {Threei}  [15:53] {Threei} OK, not sticking around for RIMM
[09:20] {Threei}  [15:53] {Threei} I can view the carnage later
[09:20] {Threei}  carnage it is
[09:20] {larisa} gm :)
[09:20] {Threei}  Playbook is a failure, market share is melting relentlessly
[09:20] {Threei}  larisa :)
[09:21] {larisa} vad :)
[09:21] {Threei}  AAPL eats RIMM's breakfast, lunch and dinner
[09:21] {Threei}  and Android eats supper and leftovers
[09:23] {RonS} gm everyone
[09:23] {Threei}  Ron :)
[09:23] {Threei}  want to short RIMM on .50 break
[09:23] {Threei}  half lot
[09:25] {Threei}  48% See No Further Need for Labor Unions, 30% Disagree
[09:27] {nemo} uptick rule
[09:28] {_roger99} what are we watching this morning for long and shorts ?
[09:29] {Threei}  FCX for long on pullback
[09:29] {Threei}  RIMM, not sure for what yet
[09:29] {_roger99} thanks
[09:29] {Threei}  short most likely but no clear idea where
[09:30] {Threei}  FCX, if morning volatility takes it back into .50 - .60 area, grab it
[09:30] {nemo} WOW
[09:31] {Threei}  in and out
[09:31] {Threei}  knew it would be so fast, no time for alert
[09:31] {nemo} God bless you
[09:31] {Threei}  so warned in advance
[09:31] {Threei}  anyone?
[09:32] {Threei} Short Setup: RIMM  23 break
[09:32] {Threei}  half lot
[09:33] {Threei}  stop .15
[09:33] {nemo} uptick rule
[09:33] {Threei}  ?
[09:33] {_thomcbell} yy
[09:33] {_thomcbell} uptick rule in effect
[09:33] {nemo} lost more than 10% have to buy on offer
[09:33] {nemo} sell on offer
[09:34] {_thomcbell} aug pivot 121.20 correct?
[09:34] {nemo} yep
[09:35] {Threei}  1:1
[09:35] {Threei}  1:2
[09:35] {Threei}  out
[09:35] {nemo} 123.40-123.60 upper end today, 122.20 below that
[09:36] {Threei}  too soon eh
[09:36] {nemo} next support 0
[09:36] {dino} gm all
[09:36] {Threei}  dino :)
[09:40] {Threei}  RIMM again
[09:40] {Threei}  same setup
[09:40] {Threei}  if stays under .15
[09:40] {Threei}  invalidated
[09:42] {Threei} Long Setup:  SLW  .50 break
[09:42] {Threei}  ugh... late a little
[09:43] {Threei}  crap... gone
[09:45] {_roger99} ESRX.....Vad  ?
[09:45] {_roger99} dropping
[09:45] {nemo} just walking up the trnedlin from the 13th
[09:45] {nemo} trendline
[09:46] {Threei}  oullback under .40, holding above .30 and crissong ,.40 back up
[09:46] {Threei}  long setup
[09:46] {Threei}  loss of .30, short
[09:46] {Threei}  reluctantly
[09:46] {Threei}  half lot
[09:47] {Threei}  short it is
[09:47] {Threei}  stop above .40
[09:48] {Threei}  no go
[09:49] {Threei}  SLW
[09:49] {Threei}  not sure about long here...
[09:51] {nemo} rimm might be short at the whole
[09:52] {dino} no feel so far
[09:53] {nemo} futures are selling off ahead of the number
[09:53] {Threei}  cons confidence?
[09:54] {nemo} yeah, the morons are gonna' tell us how they feel
[09:54] {Threei}  lol
[09:55] {nemo} am I being harsh?  o.k.  lumpens
[09:55] {Threei}  Geithner tells EU leaders to "choose" to solve the crisis
[09:55] {Threei}  oh boy...
[09:55] {_roger99} how is the numbers
[09:56] {nemo} 5.7 vs 56.3 expected
[09:56] {Threei}  U. of Michigan Confidence (Sep): 57.8 actual vs. 56.6 expected (55.7 prior)
[09:56] {nemo} 57.8 actual
[09:56] {Threei}  hmmm
[09:56] {nemo} so the morons feel good
[09:56] {Threei}  yes, and SPY sneezes why?
[09:57] {RonS} hearing est was 57.0 (corrected)
[09:57] {Threei}  even then
[09:57] {RonS} exp
[09:57] {dino} over now anyway
[09:58] {Threei} Short Setup: FCX  .60 break
[09:59] {Threei}  if stays under .70 of course
[10:00] {Threei}  no go
[10:01] {nemo} dgp .11
[10:01] {nemo} 1/2 .31
[10:02] {nemo} stop under 65
[10:04] {dino} fcx sm s .59
[10:05] {Threei} Short Setup: SLW  .50 break
[10:05] {nemo} vwao ,60
[10:05] {nemo} vwap .60
[10:06] {Threei}  invalidated
[10:06] {nemo} rebuy dgp .31
[10:06] {nemo} 1/2 that .43
[10:07] {nemo} stop .15
[10:08] {Threei} Short Setup: SLW  .70 break
[10:09] {nemo} took off second half of second lot at .45 still original 1/2
[10:09] {Threei}  stop is obvious
[10:09] {nemo} stop now .25
[10:10] {dino} fcx stop -.16
[10:11] {nemo} stop .34
[10:15] {Threei}  dies already SLW
[10:15] {Threei}  -s
[10:15] {nemo} .60 is vwap
[10:15] {nemo} out dgp
[10:15] {Threei} Short Setup: RIMM  .90 break
[10:15] {Threei}  if stays under 24
[10:17] {Threei}  1:1
[10:19] {Threei}  SLW 1:1
[10:19] {Threei}  took its sweet time
[10:19] {nemo} sitting on VWAP and trendline
[10:22] {Threei}  from what I see, VWAP plays noticeably bigger role lately than it used to couple years ago
[10:22] {Threei}  you may have something in there
[10:22] {nemo} all technical levels...algorithmic trading uses technical levels extensively
[10:23] {nemo} and they're never hangover or have relationship problems so they're quite consistent
[10:25] {_thomcbell} TRENDLINE TEST SPY
[10:25] {Threei}  don't be critical of hangovers... I strongly suspect one strong hangiver was responsible for the discover that the earth is round
[10:25] {_roger99} fcx ...long  ?
[10:26] {Threei}  .55 break, yes
[10:26] {Threei}  invalidated but ona radar for another entry
[10:28] {_roger99} took it
[10:28] {Threei}  where?
[10:29] {_roger99} .49
[10:29] {_roger99} long
[10:30] {nemo} I'm talking about trading...
[10:30] {nemo} bounce here MPP sp
[10:32] {Threei} Long Setup:  FCX  .40 break
[10:33] {Threei}  invalidated
[10:33] {nemo} .26 pivot might bounce there
[10:33] {Threei}  .49 a bit impulsive entry, roger... I see no setup here
[10:34] {nemo} I kinda like .40 here but would rather see it get closer to pivot
[10:36] {nemo} see if something sets up here for fcx
[10:37] {nemo} .20 was a breakout area then .00
[10:39] {_roger99} another set up for FCX ?
[10:39] {nemo} looking for one
[10:40] {nemo} .22 lots of activity
[10:41] {nemo} should go a bit now
[10:41] {nemo} I'm in .26
[10:41] {nemo} stop .19
[10:42] {_roger99} tight stop
[10:42] {nemo} if spy weakens I'm out
[10:42] {nemo} yep
[10:42] {nemo} next level is .08
[10:42] {Threei}  actually
[10:43] {nemo} oh oh
[10:43] {Threei}  on .20 break I'd reverse it and go short
[10:43] {_roger99} ok
[10:43] {nemo} except support at .08 not alot of R/R there
[10:43] {nemo} spy weakening
[10:43] {dino} joyg sm s .60
[10:44] {nemo} I'm out
[10:44] {Threei}  and I am short
[10:44] {Threei}  and bold
[10:44] {Threei}  bald
[10:44] {Threei}  both
06[10:44] * pragmatic short at .18
[10:44] {nemo} I'd say old but since we're both the same age I don't want to indict myself
[10:45] {dino} cov joyg .28, +.32
[10:45] {Threei}  right... don't critisize others on the grounds you don't stand verticaly on
06[10:45] * pragmatic :)
[10:45] {Threei}  1:1
[10:46] {Threei}  out in full
[10:46] {Threei}  unclear here
[10:46] {Threei}  don't want to press it
[10:46] {dino} whippy
[10:46] {dino} gj
[10:46] {Threei}  ty
[10:46] {pragmatic} nice short though
[10:47] {Threei}  good day so far, with just one stop... don't want to spoil it by getting overly aggressively
[10:49] {Threei}  ever since losing .80 FCX has this bottomless feel to it
[10:49] {nemo} premarket breakout level on spy here
[10:50] {_roger99} X is setting up
[10:52] {_roger99} long x .83
[10:53] {_roger99} stop is LOD
[10:56] {nemo} well, my Friday sell off started a bit early
[11:02] {dino} ssys sm l .93
[11:05] {nemo} .41 tna
[11:06] {dino} cyou sm l .99
[11:06] {dino} pulp-type
[11:08] {nemo} I'm out
[11:08] {nemo} don't like the action
[11:09] {nemo} either lucky or prescient
[11:09] {nemo} having said that, it breaks it here likly goes
[11:11] {nemo} I'm in again
[11:12] {nemo} 1/2 out .60
[11:12] {nemo} got back my loss
[11:12] {Threei}  nice
[11:12] {Threei}  you are in tune today
[11:12] {nemo} held trend and vwap above
[11:13] {nemo} well, I'm pretty good with the indexes and that dgp was behind gld
[11:13] {nemo} so, just follow the leader
[11:14] {nemo} out
[11:14] {nemo} oh well
[11:14] {nemo} gotta' go talk to bunny, brb
[11:15] {Threei}  lol
[11:15] {Threei}  nemo and his bunny...
[11:16] {RonS} ...must use sign language...
[11:17] {pragmatic} FCX ss .80 ?
[11:18] {Threei}  (GR) Greece is said to be considering taking funds from its bank capitalization fund due to delay in EU/IMF funding disbursement - financial press
[11:19] {Threei}  no
[11:19] {Threei}  it's a bit overstretch, FCX
[11:19] {pragmatic} ok
[11:28] {dino} eggshell day
[11:28] {Threei}  as in?
[11:28] {Threei}  walking on eggshells?
[11:28] {dino} feel like walking on eggshells
[11:28] {Threei}  :)
[11:28] {Threei}  so far so good though
[11:28] {Threei}  wow FCX
[11:29] {Threei}  why did I keep pragmatic from shorting it
[11:29] {Threei}  GR) Greece Fin Min said to be holding a teleconference with Troika members on Monday - financial press- Teleconference with the EU, IMF, and the ECB
[11:30] {Threei}  see, despite them all being in there and talking, there are just tidbits about new talks ahead
[11:30] {Threei}  meaning they can't agree on anyting
[11:30] {Threei}  no confidence
[11:30] {dino} would imagine that happens daily
[11:30] {Threei}  weekend is coming
[11:30] {Threei}  everyone is scared ti get caught
[11:31] {Threei}  and here is a kicker
[11:31] {Threei}  while everyone focused on leaders negotiations
[11:31] {Threei}  thinking that they will or will not agree on something, and that's the end of it
[11:31] {dino} ssys stop -.20
[11:32] {Threei}  in reality, there is another side that may undermine whatever they agree on:
[11:32] {Threei}  (GR) Greece workers in the public sector now calling for a 1 day strike to protest austerity; scheduled for Oct 6 - financial press
[11:33] {Threei}  on top of that, look at tis:
[11:33] {Threei}  (GR) Total private sector participation in the Greece debt program said to be near 75% (lower than prior reports closer to 85% and the 90% target) - financial press
[11:33] {Threei}  - International Institute of Finance said to be in discussions with more banks to increase participation
[11:33] {Threei}  meaning, the depth to which giovermental institutions are involved is bigger than we were told
[11:34] {Threei}  to me, it looks like from bad to worse to worst
[11:34] {Threei}  then to worstest
[11:35] {Threei}  whoever tells us it's just a crisis of confiidence, and once leaders get their act together it will all go away, is hiding his head in the sand
[11:36] {Threei}  it's a very real problem, with no easy or obvious solution,
[11:36] {Threei}  and very possibly, with n solution at all
[11:36] {Threei}  (that's my take - there is no solution to it other than default, and we are talking about much more than just Greece)
[11:39] {Threei}  did I put eeryone to sleep?
[11:40] {patience} not in the least, watching my positions in slw, hgu and gdx  :)
[11:40] {dino} zzzzzzzzzzz:D
[11:41] {Threei}  now you know how I charmed girls in my prime... same method {G}
[11:50] {nemo} looking for spy to hit .20 and set up a short using tza long
[11:54] {dino}  meli sm l .10
[11:55] {Threei}  http://www.bloomberg.com/news/2011-09-16/europe-rules-out-stimulus-offers-no-bank-aid-at-geithner-parley.html
[12:04] {Threei}  SLW makes such strange movements
[12:04] {Threei}  what's with this sudden spike
[12:05] {nemo} slv
[12:13] {dino} gpc sm l .52
[12:17] {Threei}  for a quadruple witching day, we handle it quite well today
[12:21] {dino} gpc stop -.31
[12:22] {dino} taking a break, struggling a bit
[12:28] {dino} wtf gpc rinsed
[12:56] {Threei}  most of the things stalled
[12:57] {nemo} underlyings getting weaker
[12:57] {Threei}  FCX loses support too
[13:02] {dino} out cyou .39, +.40
[13:03] {Threei}  good one
[13:03] {dino} took hours
[13:09] {dino} joyg sm s .65
[13:09] {nemo} spy at monthly pivot
[13:20] {nemo} spy back at monthly pivot
[13:21] {dino} cov joyg .35, +.30
[13:28] {Threei} Short Setup: FCX  .50 break
[13:34] {dino} 07 all red
[13:36] {Threei}  1:1
[13:37] {Threei}  going to lose .40
[13:37] {nemo} this is proably it for the uptrend today
[13:38] {Threei}  there we go
[13:38] {dino} cov .38, +.11 ty 3i
[13:38] {Threei}  :)
[13:40] {nemo} spy bounced at pivot...some resistance at .10, but would think it's a short off .20
[13:44] {nemo} if spy drops as it looks, probably add to fcx position below .35
[13:46] {dino} gpc sm l .20
[14:03] {nemo} this is good, market trending up, FCX not, likely a definite add below .30
[14:03] {Threei}  I like it
[14:03] {nemo} IMO   OALA EHA ATAS
[14:03] {Threei}  say what
[14:04] {nemo} In My Opinion   Opinions Are Like Assholes  Everyone Has One And They All Stink
[14:04] {dino}   gpc to .44
[14:05] {nemo} The acronym sounds better
[14:05] {nemo} You can say it and they think you're speaking some exotic language
[14:05] {dino} stop +.24
[14:05] {nemo} And yet....
[14:05] {nemo} I can still be my normal, crude, rude and vulgar self
[14:05] {Threei}  oala certainly had this hawaiian siund to it
[14:06] {Threei}  atas is rather from russian bandit slang
[14:06] {Threei}  good boy FCX
[14:06] {Threei}  die
[14:07] {nemo} on an upmarket no less
[14:07] {patience} ty vad, crummy trading on my part today.   thought too much and didn't lock in profits.  in fcx....
[14:08] {nemo} dye your hair blonde, that should help the thinking too much part
[14:08] {patience} can't get blonder than it is
[14:08] {nemo} must be Friday, I'm going off the deepend
[14:08] {nemo} deep end
[14:08] {Threei}  you need to go anywhere for that??
[14:08] {nemo} Yeah, I was afraid I just stuck my foot in my mouth
[14:09] {nemo} xxxooo patience
[14:09] {dino} lol
[14:09] {nemo} actually, both feet with my heavy winter boots on
[14:10] {nemo} setting my stop on FCX at .45
[14:10] {nemo} .46
[14:13] {nemo} added .34
[14:16] {nemo} o.k. this day is turning weird
[14:17] {nemo} ahhh,  maybe the classic try to whack the stops before the drop
[14:18] {Threei}  ok, time to help FCX
06[14:18] * Threei hits FCX over the head with 2x4
[14:18] {nemo} we're fine I think
[14:19] {Threei}  hmmm
[14:20] {Threei}  maybe it like pain and suffering?
[14:20] {Threei}  likes
[14:20] {nemo} indexes aren't playing fair
[14:21] {nemo} proverbial hair so far
[14:21] {dino} ssys l .70
[14:24] {Threei}  as expected, Europe is far from being echanted with Geithner's lecturing
[14:24] {Threei}  http://globaleconomicanalysis.blogspot.com/2011/09/geithner-warns-europe-about-loose-talk.html
[14:25] {Threei}  you may think I dislike this guy
[14:25] {Threei}  but the truth is, I severely dislike him
[14:26] {dino} ssys to .84
[14:27] {dino} to .87
[14:28] {Threei}  lol
[14:28] {Threei}  dino
[14:28] {Threei}  you are going to love it
[14:28] {dino} out slip ave .85, +.15
[14:29] {Threei}  remember all those "banks need no more capital" and all otherr similar claims
[14:29] {Threei}  here is oerfect summation for those:
[14:29] {dino} yeah
[14:29] {Threei}  never believe anything until it is officially denied
[14:29] {dino} lol, like the protest too much
[14:30] {Threei}  yup
[14:30] {Threei}  locute way to say it
[14:30] {Threei}  -lo
[14:45] {Threei}  I need some kind of support for my head
[14:47] {patience} vad, i am getting wrinkles waiting for fcx.  please use your 2 x 4
[14:47] {nemo} I'm getting bored with this trade
[14:49] {Threei}  somehow it liked 2x4
[14:49] {Threei}  but since I don;t have any trade waiting in line, let this one be...
[14:53] {nemo} I'm out
[14:54] {patience} vad, you need a 2 x 6?
[14:55] {Threei}  nah
[14:55] {nemo} shit
[14:56] {dino}  mkt wants hod
[14:56] {patience} max pain for moi
[14:56] {patience} today is not my day, made my daily but left lots on the table
[14:57] {dino} 1st down day this wek for me
[14:57] {dino} week
[15:10] {Threei}  Europe meeting ended with nothing for today
[15:10] {patience} quelle surpris
[15:10] {Threei}  market can't close up, it's just impossible
[15:11] {dino} no news is good news
[15:11] {Threei}  but this is bad news
[15:12] {Threei}  they can't agree on the next step
[15:12] {Threei}  well, to be exact:
[15:12] {Threei}  I consider it a good news, this thing must be allowed to fall apart, the sooner the better
[15:12] {Threei}  but for today's market needs, it's bad
[15:13] {Threei}  this rally had only one thing going for it - hope that Europe comes up with the way to kick the can down the road once again
[15:13] {patience} bernanke will do that next week
[15:14] {dino} y
[15:14] {patience} i'm making my shopping list
[15:14] {dino} wait until perry hears he's trying to bail out europe
[15:18] {Threei}  I dunno
[15:18] {Threei}  political will may not be there for ben to do that
[15:19] {Threei}  and chances to do it in secrecy are not really big at this point
[15:21] {nemo} They'll meet over the weekend come up with a solution, and pork the shorts
[15:22] {nemo} BOHICA time
[15:23] {dino} rah drop
[15:31] {dino} out meli .20 , all day for a dime
[15:31] {patience} whose the patient one
[15:31] {dino} lol, ;)
[15:32] {dino} bus stop calls, gotta hop, calling it a (good) week, thx all for ides
[15:32] {Threei}  not cpmplainign here... very nice day, with one stop... for a Friday of a nervious week, and quadriple witching, sin to be unhappy
[15:32] {Threei}  tak care dino, see you Monday with rage for revenge
[15:32] {Threei}  RIMM
[15:33] {dino} :D
[15:34] {Threei}  JP) Magnitude 6.6 earthquake strikes near the Honshu region of Japan
[15:36] {nemo} We have almost perfectly oscillated around the monthly pivot today
[15:43] {Threei}  SLW got hit hard
[15:43] {Threei}  and suddenly
[15:46] {Threei}  don't see news for this market spike
[15:47] {nemo} that's it...sayonara for the weekend
[15:47] {Threei}  thank you all
[15:47] {Threei}  have a great weekend
[15:47] {Threei}  we finished week decently
[15:48] {Threei}  see you on Monday for another one
[15:48] {nemo} te morituri salutamas
[15:50] {larisa} bye :)

Sep 15 2011

Pretty much repetition of yesterday.


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

Sep 14 2011

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

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

Sep 13 2011

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

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