Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Spring Swoon Prompts Talk of More Easing

- Events this week once again showed how in the new world of QE and central bank "puts", bad news can be good news. In Europe, the German preliminary April manufacturing PMI fell below 50, indicating the first contraction in five months in Europe's only remaining engine of growth. Germany's April IFO survey was also notably weak. In the US, the March durable goods and advance GDP readings were subpar. In China, the April HSBC flash PMI data fell to 50.5, missing expectations, and there were signs of trouble in both import and export data. Earnings in Europe and the US were not especially strong: while Q1 profits have been ok, revenue outlooks for Q2 and Q3 have been downgraded. Nevertheless, major global equity indices (with the exception of the Shanghai composite) racked up good gains on the week, with European bourses up an average of 4 percent in anticipation of the ECB flexing its muscles again. After the weak European data, Commerzbank, Deutsche Bank, Barclays, JP Morgan and Nomura all said that an ECB rate cut of 25 bps is expected at the May meeting next week. Meanwhile talk of the Fed tapering asset purchases this year has quieted. The one bright spot was the UK, where advance Q1 GDP came in at +0.3% q/q, two-tenths higher than expected. Gold has slowly regained ground lost in the first half of April, with spot gold closing out the week around $1,474, a 40% retracement of its April losses. For the week, the DJIA added 1.1%, the S&P 500 gained 1.7% and the Nasdaq rose 2.3%.

- There were ominous signs in both the March durable goods orders report and Q1 advance GDP. The headline -5.7% durables figure was the lowest reading since last August, while February's +5.7% figure was revised lower to +4.3%. The first reading of US GDP was weaker than expected at +2.5%, although it was a big step up from Q4's anemic +0.4%. The consumer spending component of the report was +3.2%, beating estimates and growing at the fastest since late 2010. A big bump up in imports and declines in government spending impaired GDP, while inventory growth and especially farm inventories formed a large part of the positive growth.

- US energy giants Exxon, Conoco and Chevron were impacted by lower crude prices. Exxon's earnings grew barely 1% y/y, while Chevron and Conoco saw profits fall y/y. Strong downstream profits from Exxon and Chevron helped make up the difference, while Conoco, which recently spun off its downstream operations, fared less well.

- Caterpillar missed top- and bottom-line expectations and executives made very mixed comments about business in key US and Chinese markets. The firm cut its FY13 guidance, blaming lower mining demand in an environment of falling commodities prices. However the CEO said this is the first time in years the company is beginning to see stability around the world.

- The sentiment headed into Apple's Q1 report had been very bad for months, so it was no surprise when the firm posted its first quarterly y/y profit decline in over a decade. Investors were not very impressed with Apple's announcement that it would return $100B of its cash to shareholders over the next three years through an increased dividend and share buyback (using borrowed money so it won't have to face a tax penalty from repatriation). Shares had bottomed out from their seven-month slide below $400 just ahead of earnings report, and even with the steep after-hours sell-off on Tuesday, actually gained 2% on the week.

- Shares of Amazon dropped 6% as investors looked past the firm's Q1 headline earnings growth and EPS beat to focus on weaker Q2 guidance. Revenue and income guidance for Q2 was markedly weaker than expected. The firm's gross margin expanded nicely on a y/y basis, however operating margins were narrower both y/y and on a sequential basis.

- Airlines had a turbulent week as the sequester's impact on the FAA snarled traffic across the US, prompting Congress to rapidly pass a special selective withdrawal of the FAA funding cuts. On the earnings front, airline earnings were mixed, but carriers universally benefitted from rock-bottom capacity and lower fuel costs.

- EUR/USD was well contained within recent ranges this week, with the pair gravitating to the lower end of the 1.30 handle. In the wake of the disappointing German PMI and IFO data, ECB members Weidmann, Asmussen, Nowotny, Knot, Bonnici and Constancio widely discussed the pros and cons of more interest rate reductions ahead of next Thursday's policy setting meeting. The Bank of Spain commented that the ECB was tracking economic data with "special attention." Analysts believe that all this commentary clearly suggests that more ECB cuts are on tap if the growth outlook deteriorates further. EUR/USD very briefly touched 3-week lows on Wednesday around 1.2953 but held above 200-day moving average of 1.2936 which now appeared to be formable support.

- Yields on Italian government bonds continued their steady declines as politicians in Rome inched toward forming a new government. On Tuesday, ten-year yields dipped below 4% for the first time since November 2010 after 87-year old President Giorgio Napolitano said he would stay on for another term. Center-left leader Luigi Bersani had failed to gain support for his Presidential candidates and subsequently resigned, turning over the process of forming the new government to lieutenant, Enrico Letta, who began consultations with various senior party officials throughout the week.

- Sterling benefitted from the better-than-expected UK GDP data on Thursday. GBP/USD moved out to four-week highs above the 1.54 handle after the data dropped. EUR/GBP fell 50 pips to test 0.8450. Trade-weighted Sterling hit a 2 month highs. Analysts say the improved GDP data probably took additional QE off the table as an option at the May BoE meeting.

- The yen currency entered the week around recent lows after Japan got the tacit backing of the G20 for its bold policy measures. USD/JPY probed towards 100.00 but fell just 15 pips shy of the key level, which was last broken in May 2009. While the yen has been weakened, the BoJ easing campaign is failing to inspire Japan investors, who sold a net ¥862.6B in foreign bonds last week, for the sixth consecutive week of elevated net sales as Japanese bring money home and pump the Nikkei225 index higher. Dealers continue to watch Japanese life insurance companies and their FY14 funding plans for signs of allocation out of domestic JGB markets and into international bonds.

- In Asia, there were some worries about China on Tuesday after the April HSBC flash PMI data fell to 50.5, less than the 51.5 expected and below the 51.6 reported in March. In addition, the sub-index of new export orders fell below the 50-point level to 48.6 suggesting demand for Chinese exporters remain weak. The yuan rose to a new record high against the dollar on Friday after the PBoC guided the yuan fixing to a surprisingly strong new high for the second consecutive session. Asian markets hit their lows of the week but recovered to trade higher through week's end; conversely the Shanghai Composite closed out the week down 2%. The South Korean economy grew at its fastest pace in two years reporting a preliminary Q1 GDP of 0.9%, higher than the 0.7% expected.



TradeTheNews

Apr 26 2013

Interesting day that was all about trade management. Winners and losers were 50/50, but losers were 5-10 cents while winners were 1:3 and 1:2, thus allowing  to finish the day in the black. Not much but still. Somewhat strange moves in the market, with sudden rug pulls and spikes

Session Time: Fri Apr 26 00:00:00 2013

[08:02] {nemo} Get up you bastards...you can sleep when you're dead...

[08:04] {thomcbell} Gm captain

[08:05] {nemo} I got demoted?

[08:10] {thomcbell} lol

[08:29] {nemo} well that closes the gap up from yesterday

[08:30] {nemo} 157.90 was yesterday's pivot at test of the whole, and the Weekly R1...strong level

[08:49] {patel} Good Morning

01[08:49] {Threei}  morning guys

01[08:50] {Threei}  why is nemo captain? I thought sarg

[08:51] {nemo} I refuse to be pigeon-holed

01[08:51] {Threei}  I bet it's because pigeons are mean

[08:54] {nemo} well,  they're buying amazon back up

[08:55] {stevw} g'mornin everybody

01[08:55] {Threei}  stec :)

01[08:55] {Threei}  c=v

[08:55] {nemo} you'd think Vad had five thumbs

01[08:56] {Threei}  shhhh... don't tell anyone it's 7

01[08:56] {Threei}  frikin Kryptonite genes...

[08:57] {stevw} i'm going to assume i should suppress the urge to make any chrenobyl jokes

[08:58] {nemo} try Chelabynsk, or perhaps Damansky Island jokes

[08:58] {stevw} ah, the Newfoundlanders of Russia

[08:58] {nemo} ?

[08:58] {stevw} Newfoundlanders are the butt of Canadian jokes

01[08:58] {Threei}  yeah, in Rusdia it's chukchi

01[08:59] {Threei}  Russia

[09:02] {stevw} reindeer chukchi or maritime chukchi?  (I'm just showing off that I know how to use Wiki)

01[09:03] {Threei}  both

01[09:03] {Threei}  no one bothered with such distinctions

[09:05] {stevw} to explain for non-Canadians, Newfoundlanders are essentially Irish - - which should suffice for explanation

[09:06] {nemo} I'm Irish, please explain

06[09:06] * nemo racks the slide

[09:07] {stevw} in that case, I'll just say thanks for the Guiness and we'll leave it that

01[09:07] {Threei}  hehe

01[09:07] {Threei}  Guiness, I am on board... but please keep that whiskey

[09:08] {stevw} actually, irish whiskey is gaining respect these days, even amongst scotch drinkers

01[09:09] {Threei}  ok... that wave hasn't reached me yet :)

[09:09] {jdetente} gm

01[09:09] {Threei}  jd :)

[09:10] {stevw} early signs for a down day on the markets, which should be good for me seeing as the up days sucked

[09:17] {nemo} I don't expect it to get out of hand though, they have to get this across the monthly finish line

[09:19] {Will49} gm

01[09:19] {Threei}  will :)

[09:19] {cipher} gm

01[09:20] {Threei}  cipher :)

01[09:21] {Threei}  not very active premarket

[09:22] {stevw} everything i've looked at so far is suggesting a flat open

[09:23] {Alexs} gm

01[09:23] {Threei}  alex :)

[09:27] {backman} gm

01[09:28] {Threei}  bman :)

[09:28] {dino} gm

01[09:29] {Threei}  dino :)

01[09:30] {Threei} Long Setup:  GDX  .75 break

01[09:30] {Threei}  If holds  .65 

01[09:32] {Threei}  Invalidated  

[09:33] {nemo} amzn getting smoked

01[09:33] {Threei} Short Setup: C  .20 break

01[09:34] {Threei}  If holds  .25 

01[09:34] {Threei}  GDX... was two-sided in retrospect

01[09:34] {Threei}  C 1:1

01[09:34] {Threei}  1:2

01[09:35] {Threei}  1:3, out

01[09:35] {Threei}  nice and easy

[09:35] {Will49} beauty

[09:35] {Les} yo what r we in?

[09:36] {jdetente} that was smooth and easy like a Cristopher Cross song. hehe

01[09:36] {Threei}  look at C bar and imagine being short fron .20, Les

01[09:36] {Threei}  lol jd

[09:36] {Les} spot on reversal gj

[09:37] {Les} RIG 51 looks interesting for short

01[09:38] {Threei} Short Setup: GDX  .40 break

[09:39] {Les} thinking like me wtg vad

[09:40] {jdetente} not a good sign Vad...not a good sign

01[09:41] {Threei}  to me thinking at all is not a good sign

[09:41] {Les} oops

[09:41] {Les} looking at chart in same manner then

[09:41] {jdetente} well if we have a stop here it will be because of "thinking" like Les. lol

01[09:41] {Threei}  there it is

[09:41] {dino} wdc sm l .50

[09:42] {Les} hehehe scapegoat accepted

01[09:43] {Threei} Short Setup: LVS  .40 break hl

01[09:43] {Threei}  If holds  .50 

[09:44] {nemo} gappy this morning

[09:45] {Les} managed to grab half shares of GDX as it dropped .50

01[09:46] {Threei}  no go

[09:46] {jdetente} another Les trade. meh

[09:47] {Les} Mushin jd mushin ain't looking for externalities

[09:47] {Les} RIG 51 long?

[09:48] {Les} forget it

[09:48] {dino} away sm l .20

[09:48] {dino} out wdc .90,+.40

01[09:49] {Threei} Short Setup: JCP  .20 break

01[09:50] {Threei}  change to .25 break

[09:50] {nemo} Soros might have to defend his position

[09:52] {dino} out away .60, +.40

[09:54] {Les} crap RIG 1:3

[09:54] {thomcbell} long setup aig 41.57 break

01[09:54] {Threei}  *(US) APR FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 76.4 V 73.5E

[09:55] {thomcbell} sorry late 

[09:57] {Les} slw short .25 holding .35

[09:57] {thomcbell} aig 1:1

[09:57] {thomcbell} target 1:3

01[09:58] {Threei}  lose that .20 already, JCP

01[10:02] {Threei} Short Setup: C  47 break

01[10:02] {Threei}  meh

[10:03] {Les} JCP's a squeezer I couldn't borrow

[10:04] {Les} slw partial cover at .15

01[10:04] {Threei}  stop .07

[10:05] {Les} higher time frames suggesting Slw and GDX wyckoff distribution potential today

[10:06] {nemo} you been wycking off too much lately, Les

[10:06] {Will49} LOL

[10:07] {Les} c covered .92

[10:07] {Les} ty

01[10:07] {Threei}  yw

01[10:07] {Threei}  1:1

[10:07] {Les} hehehe morning nemo

[10:08] {thomcbell} aig 1:1

[10:08] {Les} quartere cover .05 slw

[10:08] {thomcbell} jcp sure trades like a long 

[10:10] {thomcbell} aig flat second half 

01[10:12] {Threei}  1:2

01[10:12] {Threei}  C... you are our true friend today

01[10:12] {Threei}  "your friendly banker"

[10:12] {Will49} tks Vad...for your friend

01[10:13] {Threei}  Tesla Motors Financial press notes that Tesla Model S sales in Q1 at approx 4,750 will exceed GM Volt sales of 4,400 units

01[10:13] {Threei}  oh, so thet are in competition who sucks less?

[10:14] {Les} last piece slw flat still a bit of life in the miners

[10:14] {thomcbell} long setup qcom 62.1 break if holding 62

[10:15] {nemo} sbux

01[10:15] {Threei}  what's with rug pulls today?

01[10:16] {Threei}  SPY acts as if it keeps ear to the ground and hears distant exposions

[10:16] {Les} trading CAT earlier. Wild cat this morning ripping both ways

[10:16] {thomcbell} no go qcom

[10:19] {nemo} deck

[10:20] {Will49} too early to take to the lifeboats

[10:20] {Les} looking at potential reversal in SLW again, but looks like it wants higher

[10:21] {Les} GDX hesitates

[10:23] {Les} slw short .49 holding .55

[10:24] {dino} hum-dee-dum

[10:25] {Les} partial .40

[10:27] {Les} quarter .30

[10:27] {Les} damn this crazy shit today

[10:27] {Will49} good call Les

[10:27] {Les} 2 of Boeings finest flying over my head

01[10:28] {Threei}  good kangaroo tail reversal

[10:28] {Les} huh?

[10:28] {Les} ty will, a little too quick straight back into resistance

01[10:28] {Threei}  so Les, do you or do you not still have naked chartsd with no indicators?

[10:28] {thomcbell} qcom long setup 62.08 long break if holding 61.98

[10:28] {Les} my TRADING SCREEN charts are naked

01[10:29] {Threei}  ok

01[10:29] {Threei}  and how does it go?

[10:29] {Les} I have a support screen in 3 MINS providing additional information

[10:29] {Les} easier to see a screen without crap on it

[10:29] {Les} see price i mean

[10:29] {thomcbell} target is just 1:2

[10:29] {thomcbell} qcom 1:1

01[10:30] {Threei}  so, just one week with clean charts, and you alreadyh see no need in junk

[10:30] {Les} no I like trading price and volume very simple

01[10:30] {Threei}  come Monday, add BBs

01[10:30] {Threei}  and one simple MA

[10:30] {dino} out qcom .18, +.10 ty tbell

01[10:30] {Threei}  that's all you need

[10:30] {Les} what u using in 1 min time frame on yours

01[10:31] {Threei}  20 MA and BBs

[10:31] {thomcbell} 20 ma on the 1 min Vad?

01[10:31] {Threei}  yeah

01[10:32] {Threei}  50 on daily

[10:32] {nemo} 13 1.7

[10:32] {Les} 1:3 slw and I am flat again

01[10:32] {Threei}  all in all, I believe it was a good experiment, helped you clear things

01[10:32] {Threei}  for 1 min yes, nemo

01[10:32] {Threei}  on daily it's default

[10:33] {Les} yes starting to put indicators in their place

01[10:33] {Threei}  20/2

01[10:33] {Threei}  the more complicated and exotic they are...

[10:34] {Les} which is kangaroo tail GDX or SlW?

01[10:34] {Threei}  remember how during reltless march up for two years, bears were throwing out those Hindenburg Omens and 3 Domes with something

01[10:34] {Threei}  10:24 candle with upward tail

01[10:35] {Threei}  oh, and horribly sounding Death Cross

01[10:35] {Threei}  no one ever heard about those before, but suddenly they were in all articles and blogs

[10:35] {Les} everyone likes a narrative

[10:35] {thomcbell} qcom 1:2

[10:36] {Les} slw again short .20?

[10:36] {Les}  holding .30?

01[10:36] {Threei}  sure enough, none of them ever worked, and market continued up

01[10:36] {Threei}  no read

01[10:36] {Threei}  what kind of setup is that?

[10:38] {Les} shorting into bounce would have been my ideal .25, .20 too late as it dropped into support

[10:41] {nemo} ctxs should be a short between .30 and .40

[10:42] {thomcbell} qcom flat - had that last qtr at 48.38 but didnt get taken

[10:42] {thomcbell} 62.38

01[10:42] {Threei} Long Setup:  GDX  .25 break

[10:42] {thomcbell} i mean

01[10:43] {Threei}  If holds  .15 

[10:49] {thomcbell} prlb looking for a long entry 

[10:49] {thomcbell} feel like this thing might squeeze

[10:51] {thomcbell} kors looks vulnerable here 

01[10:52] {Threei}  1:1

[10:52] {dino} cov

[10:52] {dino} sm l .00

01[10:52] {Threei}  C 1:3, out

01[10:53] {Threei}  last leg took a lot of time but what's our hurry

[10:53] {Will49} you're here till you die

[10:54] {Will49} might as well be amking money :)

[10:54] {Will49} making

01[10:54] {Threei}  with short breaks, to faint as I see asnother earth-shuttering evidence of stupidity

[10:54] {Will49} of course

[10:54] {Les} I didn't say anything

[10:55] {Will49} one needs some entertainment

[10:55] {thomcbell} kors - should have typed the setup - nice little break there 

01[10:55] {Threei}  1:2

[10:56] {Will49} yeah sure tbell...keep the good ones to yourself

01[10:56] {Threei}  hehe

[10:56] {dino} cov stop -.30

[11:02] {thomcbell} wynn flat lvs down 2% 

[11:02] {thomcbell} loooking ofr a double bottom setup here 

[11:02] {thomcbell} your 20 period on the 1 min is a falling knife 

[11:02] {thomcbell} however 

[11:03] {dino} cov rinsed

[11:04] {Les} interesting dollar putting in lower high but market seems torn over it

[11:07] {thomcbell} long setup lvs 55.98 break if holding 55.88

[11:07] {nemo} think Europe Les

[11:10] {thomcbell} lvs invalidated 

[11:13] {backman} GDX heading to ndl?

01[11:14] {Threei}  can;'t tell confidently

01[11:14] {Threei}  rather yes than no, but not enough conviction for a trade

[11:18] {backman} ty

[11:19] {dino} pgti

[11:21] {dino} pgti s .50

[11:22] {nemo} fas

[11:36] {cc_9} GLD NUGT big pullback here

[11:36] {nemo} slv too

01[11:39] {Threei}  no news for this drop

[11:39] {cc_9} getting long this pullback

01[11:39] {Threei} Long Setup:  GDX  .85 break

[11:39] {cc_9} NUGT going to try for $0.35

01[11:40] {Threei}  If holds  .80 

01[11:40] {Threei}  tight stop

01[11:40] {Threei}  no go

01[11:41] {Threei}  gold continues selloff

[11:41] {cc_9} Scaling in, SLV / NUGT i think can squeeze a nice $0.35+ on each

[11:49] {Les} distribution it was. dropped following in favor of taking photos of flowers in garden :)

[11:52] {cc_9} looks like this trade will take longer than anticipated. shiet

[11:52] {dino} pgti stop .66 -.16

01[11:53] {Threei}  drop of a kind I love to exploit but this one came out of nowhere

[11:53] {cc_9} I agree

[11:53] {cc_9} big volume behind it as well

[11:54] {dino} taking break

01[11:54] {Threei}  well, big picture on gold remains negative

[11:56] {Les} GDX long .50 holdgin .40?

[11:56] {cc_9} SLW, very tempting as well, sticking with SLV for now.

01[11:56] {Threei}  nah'

[11:57] {backman} of course, in the land of woulda/shoulda....i thought that blow off high yesterday was going to set the stage for a downward bias in GDX...since my trading has sucked of late....i stayed quiet

[12:03] {Les} so with wyckoff we should see new distribution range here and selloff into close

01[12:09] {Threei} Long Setup:  GDX  .35 break

01[12:10] {Threei}  If holds  .28 

01[12:11] {Threei}  target 1:4

01[12:12] {Threei}  Invalidated  

01[12:12] {Threei}  for now

[12:13] {backman} fcx....trading on dl.short from .06

[12:13] {backman} .16

01[12:14] {Threei}  dl as in double lot?

[12:14] {backman} daily low

01[12:14] {Threei}  oh :)

[12:22] {backman} stopped BE

01[12:23] {Threei} Long Setup:  GDX  .30 break

01[12:23] {Threei}  If holds  .20 

01[12:23] {Threei}  perfect pullback for a double bottom and real recovery

01[12:24] {Threei}  why b/e bman? I'd think .21 was a good stop at the time

[12:25] {backman} twitchy fingers...was trading it as surrogate for GDX

01[12:26] {Threei}  ok GDX

01[12:26] {Threei}  it's time

[12:26] {Les} GG made higher low

01[12:26] {Threei}  1:4 please

01[12:28] {Threei}  1:1

01[12:30] {Threei}  .50 is a challenge, but should be taken, and clear skies after that

[12:31] {Les} bb's in 3 min suggest it may bounce along here with 50 as the top

01[12:31] {Threei}  huh?

[12:31] {dino} .

01[12:31] {Threei}  bbs do no sich thing

[12:32] {dino} pgti rinsed, thats 2 for today

01[12:32] {Threei}  you re back to reading wrong thing in a wrong way Les... no indicators for you for another week

[12:33] {Les} hehehe

01[12:33] {Threei}  http://www.realitytrader.com/vad/soupnazi.png

[12:34] {dino} no soup for you les

01[12:34] {Threei}  :)

[12:34] {cc_9} SLV, pls crack 23.15. pls

01[12:34] {Threei}  1:2

01[12:35] {Threei}  come on GDX, break hat wall

01[12:35] {Threei}  good girl

01[12:36] {Threei}  boy?

[12:37] {thomcbell} long setup kors 56 break if holding 55.90 

01[12:38] {Threei}  last 1/4 stopped on a trail

01[12:39] {Threei}  interesting day, all about trade management: winners and losers ar 5/50, but losers are 5-10 cents, winners are 1:}2and 1:3

01[12:39] {Threei}  overall positive

[12:40] {thomcbell} yup

[12:40] {Les} http://www.youtube.com/watch?v=CLPs2rgmkqE

[12:40] {patel} What is 5/50?

[12:40] {nemo} yeah, but Les is a real deadweight on your averages Vad

[12:41] {backman} oatel, it's kinda like he spells ur name   50/50 :=)

[12:41] {Les} ca c'est n'importer quoi

[12:42] {patel} oh okay. thanks

[12:42] {Les} “We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes, while the losers make big mistakes.” 

01[12:42] {Threei}  lol

[12:42] {Les} -Ned Davis

[12:42] {Les} like it

01[12:42] {Threei}  backman learned threeiish well

[12:43] {dino} a good trader knows how to take a profit, a great trader knows how to take a loss 

01[12:43] {Threei}  I almost agree with that sentence

01[12:43] {Threei}  just one correction

[12:43] {stevw} i'm awesome then!

[12:44] {nemo} oh jeez...

01[12:44] {Threei}  winners admit their mistakes and take care of them while they are small

01[12:44] {Threei}  losers get stubborn and let mistakes grow

[12:44] {Les} yeh

01[12:44] {Threei}  A Taoist Trader

[12:44] {Les} damn Vad, Megashot posting some awesome photos

[12:44] {dino} or the classic, profits are luck, losses are skill

01[12:44] {Threei}  take care of a small before it gets big

[12:45] {thomcbell} kors invalid 

[12:45] {backman} thombc....was that Kors trade a 2 way perchance

[12:45] {thomcbell} never triggered 

[12:45] {thomcbell} i dont think so 

[12:45] {backman} ty

[12:46] {thomcbell} it looks like the setup was not great for the long either 

[12:46] {backman} ah...come on...great setup...just didnt trigger

[12:47] {thomcbell} i generally like looking for a vad setup on a strong stock that retraces to previous days pivot - 

[12:48] {thomcbell} thats what my thesis was there on kors

[12:51] {dino} pgti wants vwap

[12:51] {dino} s .40

[12:51] {Les} we can see how LVS has shock and awed the longs chasing into close yesterday

[12:52] {Les} awesome feeling detaching emotions from trading decisions

01[12:53] {Threei}  liberating, isn't it

[12:53] {Les} I think Nemo's taken it one step further and detaches emotions while hiding bodies, but that's seomthing else

01[12:53] {Threei}  that's still not the ultimate perfection Les

01[12:53] {Threei}  here is the next step:

01[12:53] {Threei}  hide bodies in spectacular places and take awesome photos when done

[12:54] {dino} why do you think the flowers grow so well?

[12:54] {Les} :)

01[12:54] {Threei}  lol

[12:54] {thomcbell} vad that was a good DB on qcom a few minutes ago with bounce from 61.59 with retraceand 61.64 trigger right - i have been doing study on that setup 

[12:55] {nemo} I just bring them to my buddy's incinerator

01[12:55] {Threei}  looks very right to me

01[12:55] {Threei}  see Les? nemo has no appreciation for a good landscape

[12:56] {backman} i'd think all the BS in here would keep flowers growing beautifully

[12:56] {nemo} yes I do, experience shows though as the body decays, it leaves a tell-tale hollow

[12:56] {nemo} So....

[12:56] {nemo} you either have to chop it up first

[12:56] {nemo} or, incinerate

[12:56] {nemo} you frickin' amateurs

[12:56] {nemo} GMCR

[12:57] {nemo} only problem, support at .50

01[12:58] {Threei}  can you think of a better place to dunp body and take photo than this: http://goo.gl/spRtP

[12:58] {nemo} nice

01[12:58] {Threei}  take your pick: http://photography.realitytrader.com/2013/03/twilight-sunsets-and-other-dark-matters.html

01[12:59] {Threei}  wow QCOM

01[12:59] {Threei}  fantastic catch tbell

[13:01] {thomcbell} exactly the kinds of plays we should be looking for today 

[13:01] {backman} any though on GDX breaking .40?

01[13:02] {Threei}  looking at it for the last 5 min bman, and thinking to myself,

01[13:03] {Threei}  it's much weaker than it should have been, cvonsidering the drop

01[13:03] {Threei}  kind of undermines my idea of having a good run after final bottom

[13:03] {backman} how do u mean weaker?

01[13:03] {Threei}  final bottom was in place, yet it stalled amd revisited the trigger

01[13:04] {Threei}  instead of running with nothing more than small pullbacks

01[13:04] {Threei}  makes me very hesitant about long on it

01[13:04] {Threei}  see, when the final bootom is in, it means real reversal, no more sllers, buyers get bold

[13:05] {backman} ...i c ....hasnt' made a 1:1 run before coming back to BE

01[13:05] {Threei}  stock runs fast, furiously trappping those shorts that missed their exit

01[13:05] {Threei}  this one doesn't bubble happily

01[13:05] {Threei}  it bobs up and down

01[13:06] {Threei}  makes me even think, maybe new lows in cards

[13:06] {Will49} very helpful narrative Vad...tks

[13:06] {backman} ahh........i shall watch w u

01[13:06] {Threei}  sure... soetimes it's hard to put these things in words

[13:07] {Will49} good job

01[13:07] {Threei}  especially when typing with fins

[13:07] {Will49} :)

[13:07] {Les} http://tinyurl.com/c3f3ffg

[13:08] {Les} how I view such a scene. JMO

[13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup

01[13:08] {Threei}  sheesh... MACD

01[13:08] {Threei}  Lesa, you are incorrigible

[13:08] {Will49} hahaha lesa!

01[13:08] {Threei}  I give up

01[13:09] {Threei}  back to "putting things in words..." as my McGraw Hill editor put it many years ago,

[13:09] {Will49} freudian slip Vad

[13:09] {Will49} lesa

[13:09] {Les} actually, your ability to see same thing and rationalise it without looking elsewhere is what I would like to be able to do

[13:10] {nemo} thus marriage

[13:10] {Les} keep quiet you

01[13:10] {Threei}  "I can't edit your writing. It's rough, and English isn't smooth and isn't flowing easy, but as soon as I make it rolling off the toingue easier, it loses this raw power your writing has"

[13:10] {nemo} truth is a jagged blade that rips and tears soft flesh

01[13:10] {Threei}  why aren't you looking at what I am looking then, Les?

[13:11] {Les} I am

01[13:11] {Threei}  why are you mixing in this MACD bs again?

[13:11] {nemo} who are you talking too Vad?

[13:11] {Les} that's a side screen

01[13:11] {Threei}  side or not, you are looking at it an dusing it as reasoning

01[13:11] {Threei}  13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup

01[13:12] {Threei}  now, look at my rasoning

01[13:12] {Threei}  reasoning

01[13:12] {Threei}  can you see that what I am using is the very basic matket language?

[13:12] {Les} yes I see the difference

01[13:12] {Threei}  in terms of lows, highs, volume, pace

[13:12] {Les} I presumed .50 as resistance, while you let market decide it

01[13:13] {Threei}  and that helps me gauge the mood, the determination, the balance of supply and demand

[13:13] {Les} and market having decided resistane, you are no longer sure of long setup

01[13:13] {Threei}  what does MACD hekp you gauge?

[13:13] {Les} potential trend and trend change

01[13:13] {Threei}  it's too formal, too removed

01[13:13] {Threei}  yeah? good luck with that

01[13:14] {Threei}  the difference between what I teach vs what most do:

[13:14] {nemo} we're gonna have a doji today

01[13:14] {Threei}  they would tell you "you are not ready yet to trade without XXX indicator"

01[13:15] {Threei}  I will tell you "you are not ready yet to trade WITH it"

[13:15] {nemo} what about the chicken?

[13:15] {Les} yeh I've seen that this week. I have been trading off of price and volume

01[13:15] {Threei}  chicken entrails you mean?

[13:15] {nemo} yeah

[13:15] {nemo} cree

[13:15] {dino} coin tosses, magic 8 ball

01[13:15] {Threei}  that'ds a very good one, just below the tea leaves

01[13:16] {Threei}  and right above the dartboard

[13:16] {Les} well give me some credit

01[13:16] {Threei}  I did

[13:16] {nemo} right

[13:16] {Les} I have progressed beyond dartboard

[13:16] {nemo} right into the litter box

[13:16] {Les} ty nemo

01[13:16] {Threei}  you just slip back into bad habits too fast and easily

[13:16] {nemo} watch cree .60-.70 for short

01[13:17] {Threei}  at one point in previous life I was lucky to be coached in table tennis by the champion of Moscow

[13:17] {dino} wyn sm l .99

01[13:18] {Threei}  he dropped a sentence once which I still remember

01[13:18] {Threei}  the move you learned last is the one you forget first

[13:19] {nemo} market should come in a little here

01[13:19] {Threei}  this skill that you learned this week is too fresh

01[13:19] {Threei}  dpn't jeopardize it by dropping it too fast

01[13:19] {Threei}  it's not ingrained deeply yet

01[13:19] {Threei}  see his and my point?

[13:20] {nemo} which explains why he's still married

[13:20] {Les} I'll admit error in my trading today, being too reliant on charts and in the spirit of Ritholtz

[13:20] {nemo} CREE

01[13:20] {Threei}  ok... let's start targeting short in GDX

01[13:21] {Threei} Short Setup: GDX  .20 break

01[13:21] {Threei}  If holds  .30 

[13:30] {dino} tsla drop

[13:33] {Les} CAT closing in on 85 resistance

[13:36] {Will49} Vad, just stepped away for a few minutes

[13:36] {Will49} how long ago was the GDX alert?

01[13:36] {Threei}  15 min

01[13:36] {Threei}  never triggered

[13:36] {Will49} tks

01[13:36] {Threei}  invalidated but tries to reestabligh itself

01[13:36] {Threei}  so, still on watch

01[13:43] {Threei}  not anymore :)

01[13:44] {Threei}  gold spike propped GDX

[13:44] {cc_9} SLV finally =)

01[13:52] {Threei}  quite a few strange moves today

01[13:52] {Threei}  looking like they are news-caused, but there is none

[13:52] {Will49} manipulation

01[13:53] {Threei}  ahhh!

01[13:53] {Threei}  that's what it is

[13:53] {Will49} who knows! 

01[13:54] {Threei}  you heard that ben is not going to attend Jackson Hole this evening, first Fed chairman in 50 years to do so

01[13:54] {Threei}  the reason is, he will be too busy manipulating gold

[13:54] {Will49} heard that

[13:54] {Will49} that he's not going

[13:54] {jdetente} Reptilian King not attending Reptilian ceremony...hmmmm lol

01[13:55] {Threei}  lol

01[13:55] {Threei}  my alternative guess is, he can'tstop priniting money even for a minute

01[13:55] {Threei}  deflation may sneak up on him

[13:56] {cc_9} i seriously hope nobody here is listening to alex jones while trading

[13:56] {cc_9} i just scanned and saw the word reptilian

01[13:56] {Threei}  who?

[13:56] {dino} i'm listening to  music

[13:56] {cc_9} good

[13:57] {cc_9} one should only allow for 1 hour max a day of tinfoiling

[13:57] {Will49} is alex jones a guitar player?

[13:57] {nemo} oh, are they talking about the evolutionary level of Les' brain?

[13:57] {cc_9} lol

01[13:58] {Threei}  this is very weird headline:

01[13:58] {Threei}  Explosion in Karachi at political meeting kills at least 4 and injures 20; Taliban claim responsibility

01[13:59] {Threei}  there are political meetings ikn there with anyone but Taliban?

[14:03] {cc_9} http://www.youtube.com/watch?v=OZaYRp3nxIU

[14:06] {Les} a little volume moving in to SLW

01[14:06] {Threei} Long Setup:  CAT  85 break

01[14:08] {Threei}  not a scalp, has very nice potential

01[14:11] {Threei}  Invalidated  

[14:12] {nemo} that would be entring another gap

01[14:14] {Threei} Short Setup: GDX  .70 break

01[14:14] {Threei}  If holds  .80 

01[14:19] {Threei}  1:1

[14:20] {nemo} http://bit.ly/ZAph5Y

[14:22] {Les} hydrogen powered? good ad

[14:22] {nemo} hope you have a diesel

[14:22] {Les} sigh

[14:24] {dino} cov sm l .60

[14:27] {nemo} wow, cree keeps on going

01[14:28] {Threei} Long Setup:  CAT  .90 break hl

01[14:29] {Threei}  Attention:  CAT  unusally structured play

01[14:29] {Threei}  half lot at .90

01[14:29] {Threei}  with idea tio get stopped under .80 on half lot OR add another half at 85 break

01[14:29] {Threei}  at which point whole lot will get stop trailed to under .90

[14:32] {backman} so for entry at .90...stop is .80?

01[14:32] {Threei}  yes

01[14:34] {Threei}  Invalidated  

[14:37] {dino} hmsy sm s .98

[14:41] {dino} cov hmsy .68, +.30

[14:41] {dino} out cov .90, +.30

[14:42] {Will49} hummin' right along dino

[14:42] {thomcbell} any george jones fans in the room - he passed in the last day 

[14:42] {dino} lucky will

[14:42] {Will49} yes, saw him live  acouple of times

[14:42] {thomcbell} he is very solid 

[14:42] {thomcbell} was

[14:43] {dino} wyn to b/e stuck

[14:45] {dino} out wyn .08, +.09

[14:46] {Les} slw .50 break holdgin .60?

[14:46] {dino} stop pgti .42, -.02

[14:46] {Les} cat valid again?

[14:46] {Les} inveerted h&s

01[14:46] {Threei}  yes, valid again

01[14:46] {Threei}  same idea

[14:47] {Les} gdx and slw at .50

01[14:53] {Threei}  ok... game's half on

[14:56] {Les} failed inverted h&s SPY, or another smaller inverted H&S developing in the right shoulder

[15:02] {thomcbell} jcp got additional news out there now - loan commitment from gs 

[15:02] {thomcbell} and it exploded 

[15:03] {dino} they'll bundle that into a aaa mbs and sell it, lol

01[15:03] {Threei}  missed it watching CAT

[15:08] {thomcbell} long setup trow - 71.65 break if holding 71.55

01[15:14] {Threei}  game's fully on now

01[15:14] {Threei}  stop .88

[15:19] {Les} GDX .45 short holding .55?

01[15:20] {Threei}  rather if holding .50

[15:20] {thomcbell} trow invalidated

[15:22] {Les} C double top at .95?

[15:23] {Les} or short at .85 if holding .95?

01[15:23] {Threei}  if loses .85, yes... otherwise, breakout

[15:23] {Les} k

[15:23] {Les} 2 way?

01[15:23] {Threei}  yup

[15:26] {dino} calling it a week, thx for ideas. decent week

[15:27] {Les} bon weekend

01[15:27] {Threei}  have a good weekend dino

[15:27] {dino} will do, u2

[15:29] {Les} dunno if GS just topped out 2nd time at .50 here

[15:31] {Les} now looks like DT in GS

[15:32] {Les} long C

[15:39] {Les} tighten stop to .90

[15:41] {jdetente} you mean .89

[15:42] {Les} GS droping

[15:45] {nemo} very low volumes across the indexes

01[15:45] {Threei}  oh well

01[15:45] {Threei}  that was a good idea that didn't pan out

[15:46] {Les} u been reading monty python?

01[15:46] {Threei}  why, I have Fed minutes

[15:46] {Les} lol

[15:47] {nemo} reading Monty Python?

[15:47] {nemo} wtf

[15:48] {Les} cutting c -.05

[15:48] {Les} GS says no

[15:49] {Les} "that was a good idea that didn't pan out"...

[15:49] {Les} sounded straight out of a monty python sketch, british stiff upper lip and all

[15:49] {Les} calling it a week

[15:50] {Les} c u's monday

[15:50] {backman} enjoy

[15:50] {Will49} yeah...me too

[15:51] {Will49} TTFN guys

01[15:51] {Threei}  thank you all

01[15:51] {Threei}  have a great weekend

01[15:51] {Threei}  see you Monday

[15:57] {thomcbell} take care guys 

Apr 25 2013.

Not really our day, a few too many rinses. Nothing extraordinary as we cut down activity early and did get a few scalps right, but still finished negatively. Bug day. 


Session Time: Thu Apr 25 00:00:00 2013
[09:01] {patel} good morning
01[09:01] {Threei}  p a t e l :)
01[09:01] {Threei}  see, I can do it if I focus
[09:02] {stevw} g'mornin
01[09:02] {Threei}  stev :)
[09:02] {nemo} how ever do you pee in the morning
01[09:02] {Threei}  I don't flatter myself and come closer
[09:03] {nemo} I go outside myself
[09:03] {nemo} little rough in winter
[09:03] {nemo} little fella' doesn't want to come out
01[09:03] {Threei}  fatful rabbit at your feet
01[09:03] {Threei}  faithful
[09:04] {nemo} she just was, actually
01[09:04] {Threei}  too eaely for words longer than 5 letters...
[09:04] {stevw} case in point!
[09:04] {nemo} every morning she's sitting there waiting for her goodies
[09:05] {nemo} hate these big gap up days...jobs and earnings were good so it' likely ain't going down
[09:11] {Les} good afternoon
01[09:11] {Threei}  les :)
[09:11] {nemo} it was
[09:11] {Les} excluding Nemo
[09:12] {Les} get it straight bunny boy not even 9:30am your way
06[09:12] * nemo mmmmmhhhh, Les can tell time
01[09:15] {Threei}  I need to record some of this banter, to sustain me on weekends...
[09:15] {nemo} I guess Les and I could log in on weekends
[09:18] {Les} yeh I can't have it out with my wife like this. I pay to come here for therapy with Nemo
[09:18] {nemo} you're admitting that?
[09:19] {Les} no fear
[09:19] {Les} interesting to see ABX bottomed out this week at 2009 low
[09:19] {nemo} see GDX?  see my comment the end of Bill's blog yesterday?
[09:20] {Alexs} gm
[09:20] {Les} replied to it
01[09:20] {Threei}  alex :)
[09:20] {Will49} gm
[09:20] {thomcbell} gm all
01[09:22] {Threei}  will, tbell :)
[09:23] {cipher} gm
01[09:23] {Threei}  cipher :)
01[09:25] {Threei}  union becomes stronger by day:
01[09:25] {Threei}  - (GR) Greece said to be seeking war reparations from Germany; Local press indicating amount demanded may be close to �162B - financial press
[09:26] {Will49} grasping at straws
[09:28] {nemo} and Egypt still owes the Jews
[09:28] {jdetente} gm all
01[09:28] {Threei}  jd :)
[09:28] {nemo} and the Spanish still owe the Mayans, or whoever they were
01[09:28] {Threei}  and Mongolia - Russia
[09:28] {nemo} yep
[09:29] {nemo} Oh, and Hannibal owe's all of Europe
[09:29] {nemo} Should have had snow tires for his elephants
[09:29] {Will49} :)
[09:29] {thomcbell} qcom wow
[09:29] {nemo} And Canada should seek reparations from Will for letting him live there
[09:30] {Will49} I'd pay
[09:30] {Will49} even though of German heritage
06[09:31] * Les smacks Nemo for his particularly boisterous attitude this morning
[09:33] {nemo} frickin' gnats
01[09:33] {Threei} Short Setup: FB  .10 break
[09:33] {Les} bbry 15 break short?
[09:33] {cipher} MLNX L 00
[09:33] {cipher} out .20
01[09:33] {Threei}  let's keep questions for after first 30 min
[09:34] {nemo} Les should have to wait until 4 pm
01[09:34] {Threei}  1:1
01[09:35] {Threei}  *(^%#... can't believe I typed alert GDX short at .90, and was 1-2 sec late to send it
[09:36] {Les} BBRY
01[09:37] {Threei} Short Setup: C  .20 break
01[09:37] {Threei}  If holds  .30
01[09:38] {Threei}  what was that
[09:40] {Les} finnies trying to squeeze
01[09:42] {Threei}  no go
01[09:44] {Threei}  rinse
01[09:44] {Threei} Long Setup:  GDX  .57 break
01[09:45] {Threei}  stop .48
[09:45] {cipher} ISIS L.10
[09:45] {cipher} out .27
01[09:46] {Threei}  hmmm... is it one of those days I better stay in bed?
[09:47] {nemo} no...go to the dog house
[09:49] {nemo} ffiv dramamine stock
01[09:49] {Threei} Long Setup:  CAT  .40 break hl
01[09:49] {Threei}  If holds  .30
01[09:49] {Threei}  yeah right
01[09:49] {Threei}  no chance for entry
[09:51] {cipher} disca l .76
01[09:51] {Threei} Long Setup:  SLW  .10 break
[09:51] {cipher} mlnx l .19
01[09:53] {Threei} Long Setup:  GDX  .45 bereak
01[09:53] {Threei}  If holds  .35
01[09:54] {Threei}  GDX 1:1
01[09:55] {Threei}  SLW 1:1
[09:56] {thomcbell} qcom quick bounce there
01[09:56] {Threei}  GDX 1:2, out
[09:57] {Les} prioritised entry on weakest one first dumbass I am
[09:57] {Les} GDX was long gone
[09:57] {Les} not a frikin word bunny boy
01[09:59] {Threei}  SLW 1:2
[10:00] {thomcbell} hig 27.76 long break if holding 27.66
01[10:01] {Threei} Long Setup:  LVS  .30 break hl
01[10:02] {Threei}  1:1 if you got it
[10:03] {Les} daily resistance is close. might be reversal candidate shortly
[10:03] {thomcbell} kors long setup 54.97 break if holding 54.80 half lot
[10:05] {cipher} out mlnx .39 +.20
01[10:05] {Threei} Short Setup: GDX  .70 break
[10:07] {cipher} mlnx s .16
[10:07] {cipher} cov .51 +.65
[10:08] {cipher} too soon
[10:08] {Will49} too nice
[10:09] {cipher} mlnx l .00
[10:09] {cipher} out .30 +.30
[10:09] {thomcbell} kors using a hard stop
01[10:09] {Threei}  change GDX to .80 break
[10:10] {thomcbell} aig getting ahead of itself here looking for setup
[10:11] {jdetente} out SLW .52. Thanks Vad
01[10:11] {Threei}  yw
[10:12] {thomcbell} volume favorable on it though
01[10:12] {Threei} Short Setup: SLW  .50 break
[10:12] {thomcbell} gld tail on 1 min Vad
01[10:13] {Threei}  yes, but I want to play SLW and GDX off that
01[10:14] {Threei}  GDX is valid again
01[10:14] {Threei}  same .80 break
[10:15] {cipher} mlnx l .09
[10:16] {cipher} out .21
[10:17] {cipher} QLIK L.82
[10:20] {Les} GLD squeeze
[10:20] {Les} cup and handles forming on the miners
[10:21] {cipher} out qlik .92 +.10
[10:22] {thomcbell} kors got 1:1 and thats all
01[10:25] {Threei}  no go SLW
[10:29] {thomcbell} qcom 62.43 break if holding 62.60
[10:30] {thomcbell} qcom 1:1
[10:30] {Les} GLD long .61 holdgin .50
[10:31] {Les} damn didn't get my exit laid out first
[10:32] {Les} 1:;+
[10:32] {Les} 1:1
[10:33] {Les} 1:2 me out
[10:33] {thomcbell} qcom 1:2
[10:35] {thomcbell} stop on qcom to 62.30
[10:37] {cipher} osis s .64
01[10:37] {Threei}  die already GDX, will ya
[10:38] {thomcbell} slw could be double top here
[10:38] {thomcbell} 24.70 break if holding day hgh
[10:38] {thomcbell} aggressive for 24.67
[10:38] {cipher} cov osis .32 +.32
[10:38] {cipher} qlik s .64
[10:39] {cipher} stopped .60 +.04
01[10:40] {Threei}  and die good, for 1:3
01[10:41] {Threei}  1:1
[10:41] {thomcbell} slw 1:1
01[10:42] {Threei}  1:2
[10:45] {thomcbell} slw 1:2
[10:45] {cipher} mlnx l .77
[10:48] {Les} 1:3 off a dt in SLW at .73 makes me whole again
[10:50] {thomcbell} slw 1:3 and flat
[10:50] {thomcbell} thank you 101 trades
[10:50] {thomcbell} Vad :)
01[10:50] {Threei}  :)
[10:51] {Buster} Thanks V
01[10:51] {Threei}  yw
01[10:51] {Threei}  but I still hope to see GDX at 1:3
01[10:52] {Threei}  that would make me even
[10:56] {thomcbell} kors approaching trendline on daily
[10:58] {jfjf64} mornin
[10:58] {jfjf64} missed open
01[10:58] {Threei}  hey jf
[10:58] {jfjf64} looks good mornin
01[10:58] {Threei}  back and forth open
01[10:58] {Threei}  out of all you could pick to miss, this one is the best for that purpose
01[10:59] {Threei}  out last piece GDX on a trail
[10:59] {Les} C is at previous high resistance at .50
[11:01] {Les} maybe all the way to 48
[11:03] {thomcbell} slw looks like a long here
[11:03] {cipher} OSIS L .42
[11:06] {cipher} QLIK L .75
[11:09] {cipher} OPEN L.02
[11:10] {nemo} gmcr
[11:11] {thomcbell} what a nasty shakeout that was on kors vad
01[11:11] {Threei}  yeah
[11:12] {nemo} gmcr above .22 if it holds here
[11:12] {thomcbell} long setup slw 24.48 break if holding 24.42
01[11:12] {Threei}  and to think, I have a watch from them and my wife a wallet... maybe we should return those
[11:14] {thomcbell} slw invalid for low risk entry - still watching
[11:17] {backman} AMGN puking
[11:20] {cipher} SRCL L.50
[11:23] {cipher} out QLIK .81 +.06
[11:25] {cipher} out OPEN .59 +.57
[11:25] {cipher} SRCL stopped flat
[11:26] {cipher} OSIS stopped .29 -.16
01[11:27] {Threei} Short Setup: CAT  .65 break
01[11:27] {Threei}  If holds  .75
[11:29] {thomcbell} short setup kors 55.60 break if holding 55.72
[11:30] {cipher} LPNT L.57
[11:31] {thomcbell} hig nice cup without handle here
[11:32] {thomcbell} volume pattern not right on kors
[11:36] {thomcbell} kors invalid
[11:38] {cipher} WFM drop
[11:38] {cipher} WFM L .91
[11:39] {dino} swy sm l .50
[11:40] {nemo} gmcr
01[11:40] {Threei}  sigh
[11:40] {Will49} hhmmmm
[11:41] {jdetente} bad kitty
[11:45] {dino} swy stop .38, -.12
[11:51] {cipher} AEGR drop
[11:53] {cipher} AEGR L .07
[11:54] {dino} hsp spike
[11:54] {cipher} deck l .61
[11:55] {Les} gotta be elsewhere back for close
[11:57] {cipher} out DECK .87 +.26
[11:59] {cipher} out WFM .03 +.12
[12:00] {dino} gj
[12:00] {cipher} ty
[12:04] {cipher} out AEGR .16 +.09
[12:12] {dino} swy sm l .01
[12:19] {dino} out swy .20, +.19
[12:21] {cipher} OSIS drop
[12:21] {cipher} OSIS L.12
[12:26] {cipher} stooep .05 -.07
[12:27] {cipher} stop
[12:28] {nemo} yum
[12:34] {nemo} Vad.....change Les' password please
01[12:34] {Threei}  hmmm
[12:44] {cipher} ibm l .44
[12:45] {cipher} out .60
[12:48] {cipher} OSIS L .80
[12:58] {cipher} out .91
01[13:03] {Threei} Short Setup: FCX  30 break
01[13:04] {Threei}  If holds  .10  of course
[13:05] {cipher} OPEN L.23
01[13:11] {Threei}  Invalidated
[13:15] {cipher} out OPEN .66 +.43
[13:18] {nemo} brcm
[13:19] {cipher} LBTYK L .03
[13:21] {cipher} LBTYA  L.91
[13:22] {cipher} out LBTYA .99 +.08
[13:23] {cipher} out LBTYK .12 +.09
[13:44] {thomcbell} possibly after some consolidation - swy 23.65 long break if holding 23.53
[13:47] {thomcbell} swy 1:1
01[13:47] {Threei}  wtg
[13:48] {thomcbell} tu
[13:50] {thomcbell} swy 1:2
[13:50] {Will49} nice call Tbell
[13:52] {thomcbell} thanks
[13:52] {thomcbell} swy 1:3
01[13:52] {Threei}  very nice
[13:56] {thomcbell} 1:4 trailing to 23.99
01[13:57] {Threei}  OK, now you are just showing off
[13:57] {dino} nice
[13:57] {patel} good job
[13:57] {thomcbell} ok i shouldnt say 1:5
01[13:57] {Threei}  :)
[13:58] {Will49} wow, what a visual
[13:59] {thomcbell} out last quarter swy 24.24
[13:59] {Will49} congrats
[14:00] {thomcbell} thanks
[14:02] {Will49} ypu're not trading on inside info are you Tbell?
[14:02] {Will49} :0
[14:02] {Will49} :)
[14:03] {thomcbell} i havent looked at that symbol ever - a friend said what do u think - and pattern was there
[14:08] {thomcbell} kors breaks downtrend no all the way to downward sloping 50sma
[14:08] {thomcbell} strong as 10 men though'
[14:10] {nemo} day should get rather dismal anytime now
[14:11] {backman} long cat 85...if holds .90
[14:14] {nemo} RGC DINO!!!
[14:14] {dino} just saw that
[14:15] {nemo} just checking
[14:23] {dino} wdc sm l .10
[14:23] {dino} out wdc .40, +.30 pulp
[14:26] {thomcbell} lovely dino
[14:26] {dino} thx, but got out way too soon
[14:38] {thomcbell} long setup tyc 31.14 break if holding 31.04
[14:50] {Les} what are we in?
[14:50] {Will49} trouble
[14:50] {nemo} [14:11] {nemo} day should get rather dismal anytime now
[14:51] {Will49} in like Flynn
[14:51] {Les} yeh honey I know you're watching the clock for my return
[14:51] {Les} worse than a woman
[14:52] {Will49} sounds like you're "under the thumb" Les
[14:54] {Les} missed the .50 break on C
[14:54] {Les} startig to come donw
[14:54] {nemo} more, he's in front of the strap-on
[14:56] {dino} nasty
[14:57] {Les} LVS might give us 1:3 if it doesn't make it any higher, but showing relative strength at the moment
[14:58] {Les} might be an opener for tomorrow
[15:01] {thomcbell} wynn reports tonight
[15:01] {Les} CAT .90 break :(
[15:02] {Les} VAd SLW .50 short?
[15:02] {Les} sholding .60{?
01[15:04] {Threei}  ummm... yes
[15:05] {Les} can'^t u put the vodka fridge next to computer?
[15:07] {Les} frik was contemplating whethere .74 entry in LVS was good short here.
[15:07] {Les} answered me
[15:08] {Les} nice trend line support break short
[15:08] {thomcbell}   hearing SPX rolling on this....."Germany's Bundesbank objects to OMT opinion for the high court" Handelsbatt
[15:09] {Les} covered for a scalp
01[15:10] {Threei}  I read this tbell, but it's the end of November
01[15:11] {Threei}  I can't imagine who would trade on that now
01[15:12] {Threei}  anyway, here is full text
01[15:12] {Threei}  (EU) Germany's Bundesbank objects to OMT opinion for the high court - Germany press**NOTE Apr 19th (EU) Germany's highest Court to assess ESM/ECB case in early June; Court is set to asssess case between Jun 11-12th **Reminder: On Nov 28th 2012 Constitutional Court in Germany moved its decision on the EMU permanent bailout facility (ESM) into 2013 - The German court is due to present its final ruling on the ESM and to include an opinion on the ECB's OMT program. **Insight: - In Sept of 2012 Germany's constitutional court ruled against the injunction to halt the ESM and fiscal pact with conditions. - In Sept, there was speculation that the German top court could ask the European Court of Justice to rule on the constitutionality of the OMT program.
[15:19] {Les} GG short .90 holding .00?
01[15:19] {Threei}  feels like bounce more likely to me
[15:19] {Les} k
01[15:20] {Threei}  downward slope evens out
01[15:23] {Threei}  .l gg .90 break
01[15:23] {Threei} Long Setup:  GG  .90 break
01[15:23] {Threei}  If holds  .80
01[15:33] {Threei}  want 1:2 on this one
[15:33] {Les} ya better hit it with steel caps then
01[15:33] {Threei}  which still won't make me flat but will largely eliminate to pain
[15:35] {Les} damn LVS 1:3 without me
[15:35] {thomcbell} blame it on me
[15:36] {Les} U Nemo's stand in for today tbell?
01[15:36] {Threei}  1:1
[15:37] {Les} out for the scalp and outta here. green is good. gotta go buy my bagels again lol
[15:37] {Les} c u's tomorrow
01[15:37] {Threei}  ummm.... lox?
[15:38] {Les} is that "bagel with lox" or u just call it a lox?
[15:38] {Les} or lox bagel?
01[15:38] {Threei}  bagel with cream cheese and lox
01[15:38] {Threei}  lox itself it cold-smoked salmon
01[15:38] {Threei}  is
[15:38] {Les} right
[15:39] {Les} cheers
01[15:39] {Threei}  take care
[15:42] {thomcbell} wow lvs
[15:46] {dino} seas spike
01[15:49] {Threei}  ok GG
01[15:49] {Threei}  let's do it
01[15:49] {Threei}  like bees... birds... educated fleas... and all other insect crap
01[15:53] {Threei}  meh
01[15:53] {Threei}  1:1 was all it had
01[15:53] {Threei}  ok guys, not our day
[15:53] {Will49} it's been one of those days....
01[15:54] {Threei}  happens once in a while... if we don't let them win ever, they won't come out to play
[15:54] {Will49} have a good day guys
[15:54] {thomcbell} it means tomorrow we will be 8 out of 8 in first 2 hours
01[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {jdetente} ce'st la vie. Thanks Vad. Good night guys.
[15:54] {thomcbell} gn guys
[15:59] {dino} gn all

Apr 24 2103

Once again a very strong day, with great profitable morning followed by a slow afternoon - but even during that slowdown we found 4 or 5 winning scalps in row.


Session Time: Wed Apr 24 00:00:00 2013

[05:00] {KSystems} *yawn*
[08:18] {cc_9} Morning gents
[08:29] {KSystems} hey
[08:43] {nemo} aapl gonna' be an anchor today it looks like
01[08:49] {Threei}  morning guys
[08:50] {nemo} I'll make the assumption that is NOT directed at me
01[08:51] {Threei}  why?
[08:51] {nemo} it had an air of niceness and civility
01[08:52] {Threei}  that's just me... nice and civil
[08:56] {KSystems} morning vad
01[08:56] {Threei}  ks :)
[08:57] {nemo} Jung
06[08:57] * KSystems considers this might be the only irc server left in the world that is being used commercially
01[08:57] {Threei}  really? why?
[08:57] {nemo} can you delete it from Les' platform?
[08:58] {KSystems} because it lacks all the useless colorfulness of today's mainstream taste
[08:59] {KSystems} maybe some sites still use it as a backend for frontends like our mibbit
[09:04] {dino} gm
[09:06] {cc_9} Futures relatively flat into the open
01[09:06] {Threei}  dino :)
[09:07] {nemo} so...it's a relatively stone age application...technically speaking....perfect for Vad
01[09:07] {Threei}  you got it
[09:07] {patel} Good Morning Traders
[09:07] {nemo} tree fire women vodka...what more does a man need
[09:07] {backman} gm
01[09:07] {Threei}  oatel :)
01[09:07] {Threei}  bman :)
[09:07] {nemo} and women are a temporary, but chronic affliction
[09:08] {patel} thats 2 days in a row. yesterday platel and today oatel
01[09:08] {Threei}  really?
01[09:08] {Threei}  lol... sorry
[09:08] {KSystems} exactly nemo :D
[09:08] {patel} haha
[09:08] {KSystems} ancient but rock solid
[09:08] {patel} its fine.
[09:08] {backman} ahh, i was just going to suggest 2 women
[09:08] {nemo} Verdammten Frauen
[09:08] {nemo} oh, I got a story about that-did not end well
[09:09] {KSystems} futures turned out to be flat but have been causing me a busy morning
01[09:10] {Threei}  this is hillarious http://www.buzzfeed.com/mattbellassai/23-reasons-why-facebook-couples-are-the-worst-6z51
[09:14] {cipher} gm
01[09:14] {Threei}  cipher :)
[09:15] {Les} never fear the fool from Switzerland is here
01[09:17] {Threei}  les :)
[09:18] {nemo} cipher-you salivating over aapl?
[09:18] {Les} why Nemo?
[09:19] {Alexs} gm
01[09:19] {Threei}  alex :)
[09:19] {KSystems} oh didntknow that
[09:19] {nemo} the likelihood of volatility from earnings
[09:19] {KSystems} where exactly les?
[09:19] {Les} ah today is it
[09:19] {nemo} Der Narren kommt
[09:19] {Will49} gm
01[09:19] {Threei}  despite AAPL and horrid numbers earlier, market is greening
[09:19] {Les} after all the media bashing let's see how it delivers and is treated
01[09:19] {Threei}  will :)
[09:22] {Les} I really appreciated ... who did you link too yesterday Vad ... remarking on difference between cold hard maths & logic vs a narrative, the latter which sucks too many investors in
[09:22] {nemo} Hey Les, you can get a DNA test for $150 bucks...I think anthropologists world wide would be thrilled
[09:22] {Les} F&%ç you
[09:22] {jdetente} gm
01[09:22] {Threei}  jd :)
[09:22] {Les} heck I might just be next evolutionary step
01[09:22] {Threei}  Ritzholz I think Les
[09:23] {Les} right
[09:23] {nemo} de-evolutionary perhaps
[09:24] {Les} narrative. really putting finger on the typology of human thought
[09:24] {Will49} i see you guys are off to another day of brotherly love
[09:25] {Les} piss off Will
[09:25] {Les} :)
[09:25] {Will49} touche
[09:25] {nemo} don't stick your fingers in the cage Will
[09:25] {Les} LOL
[09:25] {Will49} jus watching
01[09:25] {Threei}  Raven seriously stuck with his birds
[09:30] {nemo} iwm spy look week, but FAS strong so far
[09:31] {jfjf64} mornin
[09:31] {Les} giddy up
01[09:31] {Threei}  jf :)
[09:32] {nemo} spy at the base of another gap
01[09:33] {Threei} Short Setup: GDX  .10 break
01[09:33] {Threei}  If holds  .15
[09:34] {dino} ew sm l .91
01[09:35] {Threei}  1:1
[09:36] {dino} \ew stop .61 -.30
01[09:37] {Threei} Short Setup: C  .70 break
01[09:38] {Threei}  If holds  .75
[09:41] {thomcbell} short setup fcx 29.29 break
[09:43] {thomcbell} invalidated
01[09:43] {Threei}  stop to .71
01[09:43] {Threei}  out
[09:44] {dino} wyn sm l .10
[09:45] {Les} slw dt?
[09:46] {cipher} ew l .61
[09:46] {thomcbell} slw looks like a cup and handle
[09:46] {thomcbell} same with gdx
01[09:47] {Threei} Long Setup:  CAT  .40 break hl
01[09:47] {Threei}  If holds  .30
[09:47] {dino} ew sm l .19
01[09:47] {Threei}  no go
[09:47] {cipher} out EW .27 +.66
[09:48] {dino} out ew .79, +.60
[09:48] {nemo} chop todeay
[09:48] {dino} lol cipher
[09:49] {nemo} spy need to get above .20 to get into the gap
01[09:49] {Threei}  today is 18 min long, lol
[09:49] {nemo} yeah
01[09:49] {Threei} Short Setup: BBY  24 break
01[09:50] {Threei}  If holds  .10
[09:50] {dino} out wyn .60, +.50
[09:52] {cc_9} Stocktwits has got to be the biggest circle jerk of all websites
[09:52] {Les} thought they were the best of the best
[09:52] {cc_9} Pre-market everyone was slamming their keyboards that AAPL would tank and they were all short
[09:52] {cc_9} Now everyone is long AAPL and is making their biggest trades ever
[09:52] {cc_9} makes me cringe
01[09:53] {Threei}  those who are losing stop talking and won't ever admit it
01[09:53] {Threei}  those who win scream loud
01[09:53] {Threei}  and then there are liars
[09:53] {Les} yeh it's to fess up to loss
[09:53] {Les} hard to fess up
01[09:54] {Threei}  1:1
[09:54] {cc_9} pathetic to read the feeds
[09:54] {Les} out for the scalp
[09:54] {Les} ty
01[09:54] {Threei}  you should see them when FB lockup expiration date came up
[09:54] {Les} treating today as scalps until I see otherwise
01[09:54] {Threei}  everyone was short
01[09:54] {Threei}  everyone was talking about mother of all shorts
01[09:54] {Threei}  sure enough FB went up
01[09:55] {Threei}  sll of a sudden everyone was talking how it was too obvious, and had to be a losing trade
[09:55] {cc_9} I read enough about the RIMM shorts (pre BBRY) who were calling the death of it
01[09:55] {Threei}  no single voice a;erted about it before the date
01[09:55] {Threei}  we called FB long based on that alone
[09:55] {cc_9} lol gg
01[09:55] {Threei}  and got it exactly right
[09:56] {dino} wyn sm l .78
01[09:57] {Threei}  too many storytellers
[09:57] {Les} better get the ice and arm sling nemo
[09:58] {nemo} I'll get the bone saw instead
[09:58] {Les} C stuck at these highs
01[09:58] {Threei}  BBY works nicely though
[09:58] {Les} short aapl here for $2 stop
[09:58] {nemo} should be good to .60
01[09:58] {Threei}  BBY?
[09:58] {nemo} y
[09:59] {dino} ll
01[09:59] {Threei}  I'll be happy with .70
[09:59] {nemo} just putting in my hft spreads worth
01[09:59] {Threei}  lol
[09:59] {nemo} thought you'd like that ;-)
[10:00] {Les} CAT at lows
[10:00] {backman} GILD geting crushed
[10:00] {nemo} which is pivot Les
[10:00] {Les} yeh
[10:01] {Les} CAT got bite. was thinking of .00 long but wait and see
[10:01] {dino} out wyn .28, +.50
[10:01] {Les} sweet
[10:02] {Les} GDX .10 long holding .00?
[10:03] {Les} SLW taking off
[10:03] {Will49} slim pickins this morning
[10:04] {cipher} lulu l .76
[10:04] {nemo} amgn weak
01[10:05] {Threei}  1:2
01[10:05] {Threei}  whew
01[10:05] {Threei}  held trailing stop to the cent
[10:05] {nemo} celg weak
[10:06] {nemo} so, what was I saying about chop?
[10:06] {dino} pork
[10:06] {Les} sui
[10:06] {dino} athn sm l ave .05
[10:06] {thomcbell} gdx looks like a long setup here
[10:06] {nemo} push coming to shove though
[10:06] {Les} suey
[10:07] {nemo} whoa there goes amgn
[10:07] {dino} amgn dr5op
01[10:07] {Threei}  1:3
01[10:07] {Threei}  me out
[10:07] {nemo} srpt weak too
[10:07] {Les} well done vad
01[10:07] {Threei}  ty
[10:07] {cipher} lulu stopped -.12
[10:08] {Les} c .80 short?
[10:08] {Les} holding .90?
01[10:08] {Threei}  yes
[10:08] {Les} FAS just quit VWAP support
[10:12] {Les} C the squeezer
[10:12] {Les} squeezer means brown noser in the army
01[10:13] {Threei}  wow... nemo's .60 is here
[10:13] {Les} SLW is at range resistance here
[10:13] {nemo} it's getting iffy at .60
[10:15] {cipher} IBM L.23
[10:18] {Les} C may have a day of further squeezing to do here
[10:21] {dino} man drop
01[10:21] {Threei} Short Setup: GDX  .20 break
06[10:21] * Les smack C around the .80 mark with a round of holey swiss cheese
[10:22] {Les} which incidently is called Emnental. we have 200 variety of cheeses inthis country
01[10:23] {Threei}  1:1
[10:25] {nemo} I'll miss youwhen you're gone, Les.  You give me so much material
[10:25] {cipher} out IBM .83 +.50
[10:25] {Les} holding for 1:3 vad GDX?
[10:25] {Les} going nowhere bunny buggerer
01[10:25] {Threei}  I think so
01[10:25] {Threei}  Will... pickings are slimmer than usual, but still can sustain a starving man, can't they :)
[10:25] {Will49} oh yeah
[10:26] {dino} man gap fill
[10:26] {dino} sm l .65
[10:28] {Les} you're always welcome to have a go Nemo. you are the life of the party in this room
[10:28] {nemo} amgn might be a good short here
[10:29] {nemo} having said that, Les-one could say that about a human sacrifice
01[10:29] {Threei}  1:2
[10:29] {dino} wyn new lod
[10:30] {nemo} rax below 45
[10:30] {nemo} little thin
[10:30] {Les} game is still on for rally
01[10:31] {Threei}  Gold prices tick lower as desks circulate CME daily delivery notce indicating JP Morgan called to deliver substantial amount of gold-
01[10:32] {Threei}  not sure why it depresses gold price
[10:32] {nemo} yeah
[10:32] {nemo} ask the tinfoil hat crowd
01[10:32] {Threei}  but it sure helped our GDX
[10:33] {Les} guess JPM would like to see lower price
[10:34] {Les} triple .50 top for JPM here
[10:34] {Les} trying to break out
[10:35] {dino} man stop .37 -.28
[10:39] {dino} wyn sm l .24
[10:42] {Les} http://www.thereformedbroker.com/2013/04/24/sometimes-this-game-is-easy/
[10:42] {Les} AAPL coughing up for its shareholders
[10:44] {thomcbell} very large cup in process on aig 1 min
[10:50] {dino} wyn to .44
[10:50] {dino} wlk spike
[10:51] {dino} out wyn +.20
[10:56] {backman} short GDX at .24
[10:56] {Les} CAT vad .00 break short?
[10:56] {dino} man sm l .45
[10:56] {Les} if it hlds .10
01[10:56] {Threei}  yes
[10:57] {ese} morning ladies and gents..........just a busy morning getting ready for Memphis tomorrow.........but thought that i would check in to say hellow.......nemo?,,,,ya comin to see us at the STAX TO THE MAX FESTIVAL SATURDAY?  huh?
01[10:58] {Threei}  hi ese
[10:58] {ese} mornin vad
[10:58] {dino} hello ese
[10:58] {ese} hows tha day goin
[10:58] {ese} dino
[10:58] {nemo} I'm a ways away
[10:58] {dino} good
[10:58] {nemo} like 1500 miles
[10:58] {nemo} Come play at Berklee ;-)
[10:58] {ese} I knew that..........so.........?
[10:59] {ese} that may happen one day
[10:59] {Les} and Montreux dude. why always Italy and never Montreux?
[10:59] {nemo} Les, what country are you in?
[10:59] {Les} China
[11:00] {ese} That may change to
[11:00] {nemo} right, well think about it...the answer is simple
[11:00] {Les} lol
[11:00] {Les} damn you
[11:00] {ese} lol
[11:00] {Les} someone cut his hardlines for friks sake
[11:01] {ese} rotflol
[11:01] {nemo} microwave
[11:02] {Les} partial .93
[11:02] {Les} 1:1
[11:02] {ese} theres a reason I pay the big bucks to be one this board.............ya just can't get this kinda insulting for free....no matter how hard ya try
[11:03] {Les} covered .82
[11:03] {backman} thanx les
06[11:04] * dino slaps ese around a bit with a large trout
06[11:04] * Les slaps ese around with big bucks cause he likes it
[11:04] {Will49} good call on CAT Les
01[11:04] {Threei}  1:2 CAT
[11:04] {ese} see what i mean
[11:05] {dino} wow scanners not moving
[11:05] {Les} surpassed my expectations sought only scalp on it
[11:05] {Les} SLW showing weakness too
[11:05] {ese} supressed what emotions Les?
[11:06] {ese} here have a seat on the couch.......lets talk about that
[11:06] {dino} uh oh
06[11:06] * Les slaps ese around with a British English dictionary
[11:06] {Will49} out CAT 1:3 tks Les
[11:06] {dino} stsmartpro crash
[11:07] {Les} nice will
01[11:07] {Threei}  ese, this is one of my major targets in building this community: maintaning high quality of insults, encouraging copnstant honing of the fine craft of hurting thy neighbor
01[11:07] {Threei}  1:3, out
[11:07] {ese} nice one boys with CAT...........expect no less
[11:07] {backman} out GDX 1:1
[11:07] {ese} well done will
[11:08] {Will49} tks
[11:08] {ese} Grimbergens are on you buddy next time
[11:08] {Will49} hahaha
[11:08] {Will49} only if I know that ONE waiter is working
[11:09] {ese} awesome community building vad...........
[11:09] {Les} VAd .10 aggressive short of SLW for 23 break?
[11:09] {Les} dunno, but looks like its lost its mojo
[11:10] {Les} although SPY doing another swan dive here
01[11:10] {Threei}  I'd feel more confident about this one if it bounced a little first
[11:10] {Les} k
[11:10] {ese} take care gents......gotta go.......if anyone on this board is close to Memphis this saturday......come and say hi.....cyou all in a week and a bit
[11:10] {Les} enjoy ese you global traveller you
01[11:10] {Threei}  have a safe trip ese
[11:10] {Will49} be good ese
01[11:10] {Threei}  so Les... how does it go without indicators?
[11:11] {Les} I am sufficiently intrigued that I'll keep the trading platform clean for further practise
[11:12] {Les} after this week
[11:12] {Les} you see
01[11:12] {Threei}  well, you found CAT
[11:12] {dino} less is more les
01[11:12] {Threei}  so it is possible to see thikngs clearly without all that crap on your charts
[11:12] {dino} wtf, trading platform crashed, still not up
01[11:13] {Threei}  trading gods are telling you something dino :)
[11:13] {Les} true
[11:13] {dino} telloing me to bend over
01[11:13] {Threei}  or talk to cc_9, lol
01[11:14] {Threei}  Les, to be sure:
[11:15] {dino} sheesh, finally
01[11:15] {Threei}  the idea is not to maske you trade without any visual help
01[11:15] {Threei}  rather to make you pay major attention to the substance of the chart
[11:15] {dino} i guess i'll just imagine it
01[11:16] {Threei}  which is price formation
01[11:16] {Threei}  and use indcitaors as they should be used - as help
[11:16] {cc_9} Dino, what platform are you on ?
01[11:17] {Threei}  too many take trades going by indicators alone
01[11:17] {Threei}  "MACD crossed, I am in"
[11:17] {Les} yeh, been a slave to indicators, this I can see
[11:17] {dino} schwab, street smart pro
[11:18] {cc_9} Time to switch to a trading platform then.
[11:18] {dino} cnbc said denial of use attracks on schwab this a.m.
01[11:18] {Threei}  lol
[11:18] {Les} well it worked dino
[11:19] {cc_9} Dino, you have 2 options : 1) you switch to Das, Laser, Fusion etc...or you have to send Anonymous 1,000 bitcoins to stop the DDoS
01[11:19] {Threei}  that reminded me an old joke about CEOs of Heinecken, Pielsen and Guiness in the bar
01[11:20] {Threei}  first says to a bartender "give me a pint of the best light beer in the world, Heinecken"
01[11:20] {Threei}  second orders his, with some marketing bs too
01[11:20] {Threei}  Guiness CEO asks for a glass of lemonade
[11:21] {dino} for most part its a good platform. once in awhile (just like others) an issue
01[11:21] {Threei}  first two surprised, ask why wouldn't he order his Guiness
01[11:21] {Threei}  he says: well, out of sheer comradiere... you don't drink beer, so I won't either
[11:21] {Les} hehehe
[11:21] {Will49} :)
[11:22] {dino} nuan spike
[11:23] {dino} sm s .20
[11:23] {Les} SLW .10 shrot holding .20?
01[11:23] {Threei}  nah
[11:28] {Les} C might try to launch itself higher here at 47
[11:47] {Les} http://tinyurl.com/cfovj46
[11:47] {Will49} isn this BOHICA in disguise?
[11:47] {Les} wonder if I can start one of htese chapters up based on Aikido training?
[11:47] {dino} lol
[11:48] {Will49} i knew you'd get it Dino
[11:48] {Will49} or were you laughing at Les?
[11:49] {dino} you
[11:50] {nemo} look at fas compared to indexes..nobody will sell the banks
[11:51] {Les} yeh C slowing down but not stopping yet
[11:52] {thomcbell} aig wicked today again
[11:52] {Les} still, daily resistance is around thse levels
[11:52] {dino} nuan won't move bs to .27
[11:53] {Les} C hourly suggesting tomorrow or friday might be game on for selling
[11:53] {dino} man to b/e
[11:55] {dino} out athn .85, +.80
[11:55] {dino} took awhile, but wtf
01[11:56] {Threei}  really
[11:56] {dino} nuan stop -.07
[11:57] {dino} man to .55
[11:59] {dino} out man +.10
[12:00] {Will49} yeah Dino...wtf..+.80 really tough work :)
[12:01] {dino} wyn sm l .80
[12:01] {dino} stop to .85
[12:03] {dino} :) will
[12:04] {dino} out wyn .85 +.05
[12:04] {dino} taking a break
[12:05] {Will49} deserved
[12:05] {dino} lucky
[12:08] {backman} tbell, where was your entry in AIG?
[12:09] {thomcbell} when - i only did one today
[12:09] {thomcbell} i liked how it looked on the close thought it had serious breakout potential
[12:10] {backman} thnx
[12:10] {thomcbell} i had a 41.41 long break today  for 0.30 cents - but i didnt publish because i didnt think it was a great one
[12:12] {Will49} }+.30 not great?...you fool:)
06[12:14] * Threei hands tbell a bottle with antigreeding
[12:15] {thomcbell} when posted i didnt think the entry was worthy rather
[12:15] {thomcbell} 0.30 is great
[12:16] {Will49} ahhh, the entry!
[12:16] {Will49} the entry didn't look great, got it
06[12:17] * Threei takes the bottle of antigreeding back
[12:18] {Will49} do you have any anti-frugality pills Vad?
01[12:19] {Threei}  only in liquid form
[12:19] {nemo} oh, thanks for reminding me
[12:19] {stevw} LULU on a 75 break?
[12:19] {Will49} is it a clear liquid with a potato base?
01[12:20] {Threei}  grain rather
[12:20] {Will49} whatever:)
[12:21] {Will49} sorry stevw...i butted in on you
[12:21] {stevw} no worries,
[12:22] {stevw} just curious if anyone thought LULU had some potential
[12:23] {Will49} Vad must have gone to get a shower
[12:24] {dino} ran too much yeterday for me stew
[12:24] {Will49} and everyone else by the look of it
[12:25] {Will49} good old reliable dino
01[12:25] {Threei}  too volatile for my taste, stev
[12:25] {Will49} maybe nor old
[12:25] {Will49} not
[12:25] {Will49} how was the shower Vad?
[12:26] {Will49} I need to take some ritalin...I'm rambling on
[12:28] {stevw} Vad, is that a general comment about LULU, or it's price action today?
[12:28] {stevw} its
[12:31] {dino} your nickname makes me think of family guy
01[12:31] {Threei}  both
[12:31] {stevw} i don't watch the show, but i suspect i wouldn't choose it
01[12:31] {Threei}  it's generally thin stock
01[12:32] {Threei}  and today it's less jumpy than udual but still
01[12:32] {Threei}  usual
[12:32] {stevw} i take it the "thin" comment isn't in reference to the asses of their yoga pants
[12:33] {dino} lol
01[12:33] {Threei}  no... lol
01[12:33] {Threei}  thin as in thinly traded
[12:33] {stevw} sorry, my mind goes elsewhere first
[12:34] {stevw} i'll have to think about your answer in relation to how i'm looking at today's chart and seeing a trend continuation
[12:34] {stevw} i haven't been factoring in volume adequately perhaps
[12:35] {dino} mkt drop
01[12:35] {Threei}  trend is fine... but look how it jumps sometimes 30 cents and more in single bar
01[12:35] {Threei}  how do you control risk when it moves like this
[12:35] {stevw} but is .30 meaningful in a $75 stock?
01[12:36] {Threei}  it's more of a dino/cipher territory
01[12:36] {Threei}  well, how large of a stop you want to maintain, whatever the price of a stock is?
01[12:36] {Threei}  I mainly try to pick stocks where 10-15 cents stop can be kept
01[12:37] {Threei}  the move in a smooth manner
01[12:37] {Threei}  they
01[12:37] {Threei}  their spread tends to be 1-2 cents
[12:37] {stevw} that's a question i'm still resolving for myself - am i setting the stop relative to price movement or to my individual trade tolerance
01[12:37] {Threei}  luckily, I resolved it for you :)
[12:38] {stevw} cool!
01[12:38] {Threei}  http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[12:38] {stevw} yes, i know i'll have to read it a few times to get it to settle in
01[12:39] {Threei}  look through all our today's trades,
01[12:39] {Threei}  or any day's actually,
01[12:39] {Threei}  how often do you see a stop set more than 10 cents?
01[12:40] {Threei}  next question will be, can you keep such stop when a spread is 20 cents?
[12:40] {stevw} you wouldn't do that with AAPL though, would you?
01[12:40] {Threei}  or when a stpock jumps 30 cents in a single breath?
01[12:40] {Threei}  hell no, lol
01[12:40] {Threei}  look at it this way:
01[12:40] {Threei}  you can control risk this way,
01[12:40] {Threei}  or you can move into dino and cipher type of stocks
01[12:41] {Threei}  and play much more volatile ones with wider stop and smaller shares size
01[12:41] {Threei}  nothing worng with that, but let's learn to walk before run
[12:41] {stevw} indeed
[12:42] {Les} C dropped harder and faster than what I thought it would
[12:42] {Les} such a lovely evening, took a walk to the shops
01[12:43] {Threei}  after this morning you had enough to shop woth
01[12:43] {Threei}  with
[12:44] {Les} could have done better. WAlked into BBY and CAT expecting only scalps, which is what I was paid
01[12:45] {Threei}  OK, so you just had a coffee and bagel...
[12:45] {Les} can see the need to keep it light and easy as the market bottoms and grinds up, but when the trade is there, not to get too focused on what it should or shouldn't do
01[12:46] {Threei}  CAT, waitching for short if bounces into .40 - .50 range
01[12:46] {Threei}  you are getting it Les... inch by inch, step by step
[12:46] {Les} I see how you pick the weakest links and attack them for all they're good for
01[12:46] {Threei}  exactly
01[12:47] {Threei}  sorry, wrong spelling... ekzaqtly
01[12:47] {Threei}  you want a dinner, don't fight a young healthy lion
01[12:47] {Threei}  you will make his dinner'
01[12:47] {Threei}  pick a tired anthelope
01[12:48] {Threei}  and hit it with 2x4 you just took from nemo while he was drunk
[12:48] {Les} while he was trying to hit me no doubt
01[12:48] {Threei} Short Setup: CAT  .40 break
01[12:48] {Threei}  If holds  .50
[12:49] {Les} maybe .50 recross
01[12:50] {Threei}  btw, notice how you start see theswe strategic things better when you get rid of all that indicator abundance on your charts
[12:50] {Les} not focusing on squiggly lines, yeh
01[12:50] {Threei}  seeing proverbial forest through the no less proverbial trees
01[12:51] {Threei}  change CAT to .50 break short
01[12:51] {Threei}  If holds  .60
01[12:54] {Threei}  1:1
[13:08] {Les} C .10 short?
[13:08] {Les} holding .20?
01[13:09] {Threei}  yes
01[13:12] {Threei}  good thing we grabbed all we could in the morning, action has almost stopped
[13:28] {Les} Good news spin on appointment of Italian Prime Minister.
[13:28] {Les} journalist obviously doesn't know italina politics
01[13:29] {Threei}  1:1
01[13:29] {Threei}  took its sweet time
[13:29] {Les} can I go home now? :)
01[13:29] {Threei}  but whatever... adds to a nice day's profit
01[13:29] {Threei}  (US) Senate moves internet sales tax bill through procedural process - press**Note: On Apr 21st - US Senate expected to support internet sales tax - financial press - The Senate is expected to pass the 'Marketplace Fairness Act' this week, which would allow states to tax online purchases, closing what supporters call an unfair loophole that benefits online retailers over brick-and-mortar shops. Currently, states can only collect sales taxes from retailers that physically located within their state. - Though it is expected to pass the Senate, it may have a more difficult time in the House
01[13:30] {Threei}  no Les... you need creamceese with lox on that bagel
[13:30] {Les} lox? sounds dangerous
01[13:30] {Threei}  want me to google that for you? :)
[13:30] {Les} please do
[13:31] {Les} :P
01[13:31] {Threei}  http://lmgtfy.com/?q=lox
[13:31] {Les} hmmmm yum
[13:32] {Les} probably the only good thing u canucks send over our way
[13:32] {Les} pacific silver salmon
01[13:32] {Threei}  man... you Europeans don't know basic foods {G}
[13:32] {Les} oh and that stuff that comes out of yer trees
[13:32] {nemo} yes, and you not being in North America is addition by subtraction
[13:33] {jdetente} making me hungry... lunchtime just about
01[13:33] {Threei}  nemo gets award of the day for the most sophisticated insult of the day
[13:33] {Les} nah that stank Nemo. C'mon, u already on the bottle?
[13:34] {Will49} good one nemo
[13:35] {cc_9} LAD slow creeper all AM after that pre-market death.
[13:41] {nemo} you can tell it's sophisticated when Les says it stinks
[13:42] {nemo} another utterance by the Luddite proletariat
[13:43] {Les} me, proletariat?
[13:43] {nemo} you missed the first adjective
[13:43] {Les} luddite I accept
[13:43] {Les} but I can't remember the last time I worked a real job
[13:43] {Les} which makes me less than proletariat
01[13:44] {Threei}  so you are lazy proletariat
[13:44] {nemo} lumpen
[13:44] {nemo} phillistine
[13:44] {Les} was gonna ask you for another adjective
[13:44] {Les} but apparently there is lazy proletariat
[13:44] {Les} I can wear that badge with pride
[13:44] {nemo} Les rides the short bus
01[13:44] {Threei}  I never took it off
01[13:45] {Threei}  when asked if I want a shovel, I ask back whether they have one with engine
01[13:46] {Threei}  and when asked whether I am, per chance, a coal miner, I say I am not one per principle, not per chance
[13:46] {Les} it's taken me a while
[13:46] {Les} but I see this now as good guidance for life
01[13:47] {Threei}  which one
01[13:47] {Threei}  took a while I mean
[13:50] {Les} being a lazy prolo
[13:50] {Les} intellectuals get bumped off
[13:50] {Les} or derided like the idiots in charge today
[13:51] {Les} businessmen get taxed and strung up for imaginery offences against those inpower
[13:51] {Les} better to be an anonymous bum
[13:51] {cc_9} Have another drink Les.
[13:52] {nemo} try the hemlock tea with honey
[13:52] {Will49} mean bunch
[13:54] {Les} a drink. sounds like a good idea
01[14:17] {Threei} Short Setup: GLD  138 break hl
01[14:17] {Threei}  If holds  .10
[14:22] {Les} 2 way for potential cup and ahndle?
01[14:23] {Threei}  uip
01[14:23] {Threei}  yup
01[14:23] {Threei}  my personal sympathies are more on a short side but that's jusrt a reflection of my general skeptical worldview
[14:28] {Les} talking alittle off at .18
01[14:33] {Threei}  1:1
[14:34] {dino} gotta hop early. r.e. opportunity
[14:34] {dino} thx all, very good day
01[14:35] {Threei}  take care dino :)
[14:35] {Les} cheers dino
[14:38] {backman} GLD ..would u short on break of .10?
01[14:38] {Threei}  nah
01[14:38] {Threei}  dropped into support, no colsolidation
01[14:38] {Threei}  consolidation even
[14:38] {nemo} they got spy into the gap, now it heeds to hold .15, does that we're off tho the races
[14:39] {backman} kk...first time i traded a big # stock...got a latte at SBUX for my efforts
01[14:40] {Threei}  hey... get trained AND paid for it?
[14:40] {thomcbell} long setup hig 27.80 break ifholding 27.74
01[14:40] {Threei}  not many traders have this luxury
[14:50] {thomcbell} hig invalid for now
[14:50] {thomcbell} not time for breakouts
[14:52] {Les} HD .35 short?
[14:52] {Les} holding .45?
01[14:52] {Threei}  not sure... a bit too narroe day's range
01[14:52] {Threei}  narrow
[15:01] {Les} WLT dt?
[15:02] {Les} another commodity trying to find a bottom
01[15:03] {Threei}  can't tell between double top or breakout
[15:03] {Les} yeh
01[15:11] {Threei}  (SI) Slovenia Govt forecasts banking system requiring approximately �900M -
01[15:12] {Threei}  next crisis creeping closer
[15:12] {Les} hmmm gnat on an elephants ass no?
01[15:12] {Threei}  900 M of course will quickly turn to be 4B
[15:12] {Les} I'm waiting for France to crap itself
01[15:13] {Threei}  it's not even the size of these local failures
01[15:13] {Threei}  it's indication of the whole structure being non-viable
01[15:13] {Threei}  so weak points and cracks appear here and there
01[15:13] {Threei}  until they create a net of bigger cracks
01[15:14] {Threei}  and whole thing goes crashing down
[15:14] {nemo} yeah, try to explain that to my lefty friends...the high tax european economies are going broke, so why do you think raising taxes will work here?
[15:14] {Les} cause dummies like your neighbours will vote for it
01[15:14] {Threei}  but nemo
[15:14] {Les} neighbours as in whole country
01[15:14] {Threei}  they don't see it this way
[15:15] {nemo} I know
01[15:15] {Threei}  they don't beluieve it's high taxation-central planning that is at fault
01[15:15] {Threei}  they think it's speculators attacking the system
01[15:15] {Threei}  bond vigilantes
01[15:15] {Threei}  futures traders
01[15:16] {Threei}  currency traders
01[15:16] {Threei}  HFT
01[15:16] {Threei}  day traders
01[15:16] {Threei}  list is endless
[15:16] {nemo} les
[15:16] {Les} heck they don't even sell it as tax anymore. call it 'obamacare'...
[15:16] {nemo} forgot him
[15:16] {Les} :)
[15:16] {Les} 'jobs' act
01[15:17] {Threei}  when did communists think their dream system was a failure
01[15:17] {Threei}  it's always damn capitalists
[15:18] {nemo} there weren't any capitalists in the Soviet Union, whose fault was that?
01[15:18] {Threei}  depends on period
[15:19] {nemo} always comes back to women
01[15:19] {Threei}  in Stalin times it was people's enemies, foreign spies
[15:19] {Les} good one nemo
01[15:19] {Threei}  always world capitalism of course, at any time
[15:20] {Les} damn WLT for being sneaky prick
[15:22] {Les} slw and GDX have short potential here. Not sure though
01[15:22] {Threei}  GDX, yeah
01[15:22] {Threei}  atempt at little H&S
[15:22] {Les} 30 short?
01[15:22] {Threei} Short Setup: GDX  30 break
01[15:23] {Threei}  SLW isn't really easy to discern formation but can help with reading GDX
01[15:30] {Threei} Short Setup: FB  .20 break
01[15:30] {Threei}  If holds  .27
01[15:33] {Threei}  PA, we could use one of those fake tweets right about now
[15:34] {Les} what was the password?
[15:34] {jdetente} APAPAPAP
01[15:35] {Threei}  today they are smarter - it's APAPAPAP2013
[15:35] {Les} http://tinyurl.com/bqyeakt
[15:35] {Les} someone dares to say it in Germany
01[15:35] {Threei}  5 years?
01[15:36] {Threei}  sounds way too optinistic to me
01[15:36] {Threei}  tensions rise faster that that
[15:36] {Les} you always were a pessimist
01[15:36] {Threei}  actually it's optimism
01[15:36] {Threei}  the faster it breaks down the better
01[15:39] {Threei}  Rather than accept the break-up of the euro, the German government is demanding tighter, Europe-wide controls over national budgets.
01[15:39] {Threei}  heh
01[15:42] {Threei}  very boring afternoon
[15:46] {cc_9} have a good EOD fellas
[15:46] {cc_9} a demain
01[15:46] {Threei}  you too
[15:46] {patel} You holding FB overnight.
01[15:47] {Threei}  no, why would I
01[15:47] {Threei}  it has about 11 min to resolve
[15:47] {patel} yeah
01[15:47] {Threei}  look at daily
[15:47] {patel} I was just messing around.
[15:47] {jdetente} let's all become investors
01[15:48] {Threei}  who can tell which way it goes from here
[15:48] {jdetente}  I'm told that's the quickest path to prosperity lol
01[15:48] {Threei}  yeah
01[15:48] {Threei}  buy gold at 1800 and hold
[15:48] {jdetente} buy high sell low
01[15:48] {Threei}  it's to hit 50,000 soon, haven't you heard
[15:48] {jdetente} believe in Cramer
01[15:49] {Threei}  die FB
[15:51] {Les} GDX giddy up
06[15:52] * Threei pours molten lead in FB's throat
[15:54] {jdetente} FB is one stubborn SOB...refuses to die. Monty Python-esque
01[15:54] {Threei}  well, considering time pressure, stop to .21
01[15:55] {Threei}  riskless trade
[15:55] {Les} vwap is .12
01[15:55] {Threei}  3 more min to get a few more cents or to get stopped about b/e
01[15:56] {Threei}  how do you know Les?
[15:56] {Les} just a guess
01[15:56] {Threei}  are you secretly looking at indicators?
[15:56] {Les} lol I am out of here
[15:56] {nemo} he mentioned vwap earlier today Vad and you missed it
[15:56] {Les} out .12
06[15:56] * Threei slants at Les ascance
[15:56] {nemo} Les go find a round room and stand in the corner
01[15:56] {Threei}  no, I saw it
01[15:57] {Threei}  just let it slide for the time being
01[15:57] {Threei}  here we go
01[15:57] {Threei}  out .11
01[15:57] {Threei}  4th successful scalp in a slow afternoon
[15:57] {Will49} tks vad out .11 also
[15:58] {patel} thanks
[15:58] {Will49} great day!
01[15:58] {Threei}  thank you all
[15:58] {Les} decent day for such a dead one. ty. a+ c u tomorrow
01[15:58] {Threei}  have a great evening, see you tomorrow
[15:58] {jdetente} have a good one all. Thanks Vad
[15:58] {Will49} you too
[15:59] {backman} gnite