Thursday, May 2, 2013

May 2 2013

Very decent day with couple stops and a few nice trades working to 1:2 and 1:3. Nothing extra-spectacular, just routine profitable day.


Session Time: Thu May 02 00:00:00 2013


[09:01] {stevw} hmm ... seems a little sleepy in here
01[09:02] {Threei}  a little? I for one am trying to cover my eyes with my ears, to prolong the state of denial
[09:03] {stevw} were the canucks playing last night or something?
01[09:04] {Threei}  don't know
[09:06] {Les} do we need to know?
[09:06] {Les} morning
01[09:06] {Threei}  les :)
[09:07] {Les} hmmm potential DB in doctor copper futures
[09:07] {Les} found yer pills or drink Nemo? Ready to start the day?
[09:08] {nemo} Just got back from father's doctor's appointment, was out of the house at 6 am
[09:08] {Les} how's he doing?
[09:08] {nemo} fine....eye doing o.k.
[09:10] {Les} good stuff
[09:10] {nemo} and you think I'm incorrigible
[09:11] {jdetente} good morning all
01[09:11] {Threei}  jd :)
[09:12] {Les} FDX seeking out new yearly low
[09:16] {Les} dollar greening up with equities. Super Mario said something reassuring?
[09:17] {Les} think the ECB spoke today
01[09:17] {Threei}  as usual
01[09:17] {Threei}  we will do all we can to kill the hope that we may go away
[09:18] {Les} heh brother of Ben
01[09:18] {Threei}  Germa fin min demonstrated total lack of imagination:
01[09:19] {Threei}  - German Fin Min Schaeuble stated that he was considering withdrawing flat-rate withholding tax. He added that the anti-Euro party won't succeed and he could not imagine Euro collapsing
[09:19] {Les} it's surprising the number of people ive spoken to who say no way euro can disappear
[09:20] {Les} this big project mentality seems to leave an imprint on the imagination, or lack of
[09:20] {Les} can it nemo
01[09:20] {Threei}  how many in 1990 would answer yes to a question whether USSR coluld dissolve?
[09:21] {nemo} Master Tai did in the 60's...just didn't know when
[09:21] {Will49} gm
01[09:21] {Threei}  will :)
[09:22] {Alexs} gm
[09:22] {cipher} gm
01[09:22] {Threei}  alex :)
01[09:22] {Threei}  cipher :)
[09:22] {Les} yeh, in this sense of trading and everything else that goes on in this world, I see importance of Mushin, Zanshin and Wu wei
[09:23] {Les} wu wei definitely the hardest
[09:25] {RonS} gm tm et al...
01[09:26] {Threei}  ron :)
[09:26] {jfjf64} mornin boys
01[09:26] {Threei}  jf :)
01[09:28] {Threei}  with gap slowly fading, first ray of hope would be GDX 30 break short
01[09:28] {Threei}  providing it waits for us, and stays under .10
01[09:29] {Threei}  yeah right
[09:29] {jfjf64} lol
[09:29] {Will49} it's the thought that counts
01[09:29] {Threei}  whole lot of waiting it did, eh :)
[09:30] {jdetente} 1:2 lol
[09:30] {stevw} FB gap higher open
01[09:30] {Threei}  yeah, this one on radar
[09:31] {nemo} watch for fdx failure in .60 area
01[09:32] {Threei} Long Setup:  FB  .20 break
01[09:32] {Threei}  If holds  .10
[09:33] {nemo} right
01[09:33] {Threei}  Invalidated
01[09:33] {Threei} Short Setup: GDX  .80 break
01[09:33] {Threei}  If holds  .90
[09:34] {nemo} well, maybe .45 on that fdx
01[09:35] {Threei}  1:1
01[09:36] {Threei}  1:2
01[09:37] {Threei}  1:3, over and out
[09:37] {jfjf64} ty sir
[09:37] {Alexs} ty Vad
01[09:37] {Threei}  yw
[09:37] {Les} by the book ty
01[09:37] {Threei}  good thing first ray of hope wasn't last
[09:37] {Will49} Tks Vad, way to start
01[09:37] {Threei}  :)
01[09:38] {Threei}  I don't know what we are going to do when miners reverse their downtrend... life as we know it will be over
[09:38] {Les} FB reversal setup
[09:38] {Les} ?
01[09:40] {Threei} Long Setup:  LVS  .20 break hl
01[09:40] {Threei}  change to .10
01[09:40] {Threei}  If holds  57
[09:41] {nemo} spready early
[09:43] {thomcbell} short setup C 45.96 braek
[09:44] {nemo} lvs two way now
[09:46] {nemo} could go for gap close
[09:46] {nemo} oh yeah
01[09:46] {Threei}  meh
[09:46] {jdetente} well that was a huge gap meh
[09:47] {Will49} hairy thing to trade
[09:47] {nemo} indexes doing nothing, gap, makes sense
01[09:47] {Threei}  that's why hl
[09:47] {backman} spread on it keeps me away
[09:47] {nemo} should bounce .60
[09:47] {thomcbell} c 1:1
[09:47] {Will49} I was half scared
01[09:48] {Threei} Long Setup:  CAT  .40 break hl
01[09:49] {Threei}  If holds  .30
[09:49] {nemo} lvs too
[09:49] {thomcbell} lvs is lunacy
[09:49] {thomcbell} c 1:2
[09:50] {nemo} look yesterday's high on lvs thom
[09:52] {thomcbell} y i see it
[09:52] {nemo} first 15 minutes of market is low liquidity, easy to get bounced...those early levels usually the places
[09:53] {thomcbell} c cleaning up last qtr here 45.70
01[09:54] {Threei}  wtg
[09:55] {thomcbell} vz at gap
[09:56] {nemo} getting that doji feel again
01[09:57] {Threei}  SPY has hard time
01[09:57] {Threei}  if can't break 159, going back to shorting
[09:58] {nemo} if it gets through, .35 area next price resistance, with .10ish R1
[09:58] {thomcbell} vz long 52.20
[09:58] {cc_9} morning fellas
01[09:59] {Threei}  still feels as it should
01[09:59] {Threei}  cc9 :)
[09:59] {nemo} well, he can tell time
01[10:00] {Threei}  ok, this SPY push should get us there
[10:00] {thomcbell} vz out 52.50
01[10:01] {Threei}  gj
01[10:01] {Threei}  hmmm... CAT wouldn't follow
[10:02] {thomcbell} vad i didnt have time to type it - my thinking was VZ going back under 52.20 and then using 52.20 as the long trigger
01[10:02] {Threei}  good thinking
[10:03] {thomcbell} i really recommend reading vad's section on those types of setups in 101 trades
[10:03] {thomcbell} im finding so many trades with it
[10:03] {nemo} wlt looks good long here
[10:04] {Les} missed LVS using inverse setup tbell, busy with boys homework
01[10:05] {Threei}  strange SPY stall
01[10:05] {Threei}  would expect it later in the day, not this early
01[10:07] {Threei} Long Setup:  SLW  .45 break
01[10:09] {Threei}  ok CAT, it's time... take .45 and move your butt
01[10:09] {Threei}  finally
01[10:09] {Threei}  1:1
[10:10] {Les} scalped ty
01[10:10] {Threei}  Invalidated  SLW
[10:11] {Les} http://www.spiegel.de/international/business/kremlin-targets-russian-facebook-clone-vkontakte-a-897487.html
[10:11] {Les} Putin doesn't like popular social media...
01[10:11] {Threei}  I am with him on that
[10:11] {Les} hehehe
[10:11] {jdetente} he only likes long horseback rides without a shirt
01[10:11] {Threei}  lol
[10:12] {Les} malboro man
[10:12] {jdetente} and walks on the beach
[10:12] {jdetente} hehe
[10:12] {Les} childhood dream of being actor has found new outlet
01[10:12] {Threei}  I too love those long walks to the fridge
01[10:13] {Threei}  1:2
01[10:15] {Threei}  ok, I'd say my morning experiment proved mostly successful: you CAN trade with your eyes covered by your ears
[10:15] {jdetente} out at 1:2 thanks Vad
01[10:15] {Threei}  yw
01[10:15] {Threei}  holding last piece for 1:3
01[10:16] {Threei}  CAT too likes those long romantic walks
[10:16] {jdetente} the kitty appreciates the pretense...lol
01[10:16] {Threei}  :)
[10:19] {backman} TNA having a good day
01[10:19] {Threei}  SLW still works a hedge
01[10:19] {Threei}  as a
01[10:19] {Threei}  out last CAT on a tril
01[10:24] {Threei} Short Setup: SLW  .20 break
01[10:24] {Threei}  If holds  .25
01[10:27] {Threei}  TNA was a toughie
01[10:27] {Threei}  no reversal setup that I could find,
01[10:27] {Threei}  then .40 break, nice it it was from the point of view of taking resistane, was untradeable
01[10:27] {Threei}  since it spiked right into .40 and broke it with no consolidation of pullback
[10:28] {Les} buy as close to 41 as possible and pray
01[10:29] {Threei}  SLW valid
[10:30] {Les} GLD reversal off 142?
01[10:31] {Threei}  .95 break, yeah
01[10:31] {Threei}  hl
[10:31] {nemo} market gonna' have a little pull in me thinks
[10:33] {thomcbell} long setup hig 28.16 break if holding 28.10
[10:36] {backman} slw bck at .20
01[10:39] {Threei}  no go
[10:41] {jdetente} so going back to Putin. Did you guys see his reaction to the topless protesters from FEMEN?  He gave them a thumbs up.. lol
[10:41] {jdetente} http://www.spiegel.de/fotostrecke/photo-gallery-femen-takes-on-putin-in-germany-fotostrecke-95276.html
01[10:43] {Threei}  probably before he read what they wrote on themselves
[10:43] {nemo} better than looking at tsarina
[10:43] {jdetente} my Russian is a little rusty...
01[10:43] {Threei}  profanity in his address, very rude
01[10:44] {Threei}  of those that start bar fights
[10:47] {nemo} apa short
[10:48] {thomcbell} hig i got stopped
[10:48] {thomcbell} bad setup for time of day - in hindsight
[10:49] {thomcbell} tail on aig vad
01[10:49] {Threei}  at the top?
01[10:50] {Threei}  kangaroo
[10:51] {Les} OSTK one to watch. being hyped as next amazon
01[10:52] {Threei}  rofl
[10:52] {Les} the owner is selling into this rally
01[10:52] {Threei}  for a CEO that spends decades complaining how short sellers suppress the price of his stock, that's a bit rich
[10:52] {nemo} what's up with PRU?
01[10:53] {Threei}  reported yesterday
[10:53] {Les} squeeze day
[10:53] {thomcbell} pru good earnings and met too
[10:53] {thomcbell} lvs vulnerable here
[10:53] {thomcbell} not doing anything with it
01[10:54] {Threei}  speaking of PRU... MET should be a long on .50 break
01[10:54] {Threei} Long Setup:  MET  .45 break
01[10:54] {Threei}  aggressive
01[10:55] {Threei}  If holds  .40
[10:55] {nemo} or when pru breaks  .00
01[10:56] {Threei}  I'd watch PRU as a leader for MET
[10:56] {nemo} right
[10:56] {nemo} that's what I said
[10:56] {jfjf64} who s on first
01[10:56] {Threei}  MET valid
[10:57] {nemo} jf not
[10:57] {backman} .10 stop or .05?
01[10:58] {Threei}  .38 stop if breaks from here
[10:58] {Les} hehehe jf classic
[10:59] {jfjf64} lol
[10:59] {nemo} makes sense Les would find humor in that
01[11:00] {Threei}  1:1
01[11:00] {Threei}  target 1:2 or 1:3
01[11:01] {Threei}  can't tell
01[11:01] {Threei}  just play by the book
[11:01] {Les} didn't sweep me holding .45 as stop now
[11:02] {thomcbell} c 45.88 break if holding 45.98
[11:02] {thomcbell} short setup
[11:03] {thomcbell} lvs wow didnt think it had 0.50 cents in it
[11:04] {Les} PRU just found its top
[11:04] {Les} at least in short term
01[11:05] {Threei}  MET is holding though
[11:05] {Les} yeh
[11:06] {Les} first thunderstorm for the year moving in
[11:06] {nemo} pnc might bounce here
[11:07] {nemo} why don't you go out on the roof, and hold up an antenna
[11:07] {cc_9} WLT = sexiest chart of the day.
[11:07] {Les} antenna?
[11:08] {Les} everything's buried in this country ya dufus, like your head
[11:08] {Will49} be nice kids!
[11:08] {nemo} like it short here  0 of 9
[11:08] {Les} .50 break PRU?
01[11:08] {Threei}  nah
01[11:08] {Threei}  enough of these spread-jumpers
[11:09] {Will49} amen
[11:09] {Les} agreed
[11:11] {Will49} hwy...never more, how are you?
[11:11] {Will49} hey
01[11:11] {Threei}  careful will... you know you are in troubles when Raven starts circling above you
[11:11] {Will49} only buzzards bother me
[11:12] {nemo} going for all time highs on spy
01[11:12] {Threei}  really? you haven't heard about the owl attacking people in Beacon Hill park then
[11:12] {Will49} yeah..did
[11:13] {Will49} Park is a dangerous place in nesting season
[11:13] {Raven} {}
[11:13] {dino} cp spike
[11:13] {Will49} specially crows
[11:14] {RonS} 2 mos ago had an owl fly 5 feet right over my head, looking down...diaper time...
[11:14] {dino} sm s .49
[11:14] {backman} got booted....did MET make 1:2 ?
[11:14] {Will49} trivia: Victoria is crow capital of North America
01[11:14] {Threei}  no
[11:14] {jdetente} not yet
[11:15] {backman} tu
01[11:15] {Threei}  great horned once amazed me flying inches from my cheel - absolutely silently
01[11:15] {Threei}  no sound at all
[11:16] {nemo} almost had an owl land on me while sitting in a treestand
01[11:16] {Threei}  I have its photos somewhere, lemme find them...
[11:16] {Will49} he liked your beard
01[11:16] {Threei}  http://photography.realitytrader.com/2012/08/great-horned-owl.html
[11:16] {dino} cp stop .69, -.20
[11:17] {dino} rinsed
[11:18] {RonS} nemo needs copies so can show bunny to make her tremble
[11:18] {nemo} think cat might be a short here
[11:18] {nemo} got to show Redux now too
01[11:19] {Threei} Long Setup:  C  46 break
01[11:19] {Threei}  If holds  .94
[11:21] {nemo} here come spy new highs
01[11:21] {Threei}  it touched 160 yesterday before open, nemo
[11:21] {nemo} 160.12 to be exact
[11:22] {nemo} they have to give CNBC something to cheerlead about
[11:25] {backman} stop on c .93?
01[11:25] {Threei}  right
01[11:25] {Threei}  target 1:2
[11:27] {nemo} mpc looks short under .30
[11:28] {nemo} volume spike last minute
01[11:29] {Threei}  half out .09
[11:34] {thomcbell} pru coming in a bunch
[11:40] {Will49} MET = bladder buster
01[11:40] {Threei}  lol
[11:41] {Will49} that's what hard stops are for, right Vad?
01[11:41] {Threei}  pretty much
01[11:41] {Threei}  slow stock, won't kill you on a stop
[11:42] {Will49} now there's a kangaroo tail
[11:42] {Les} unless you need a diaper change Will?
[11:42] {Will49} big cork meets my needs
[11:43] {Les} just remember to wash your thumb afterwards
[11:43] {Will49} we have rubber gloves for that over here
[11:44] {Will49} Europeans use bare hands?
[11:44] {Les} no, toilets
[11:44] {Les} you canucks are a sorry lot
[11:44] {RonS} they got no corn cobs...
[11:44] {jdetente} I thought Les used the bidet.
[11:45] {Will49} well at least you spelled it right this time
[11:45] {Will49} canucks
[11:48] {Will49} Vancouver Canucks are shark-bitten this morning
[11:48] {RonS} san jose?
[11:48] {Will49} yes
[11:49] {RonS} my mom's team
[11:49] {Will49} may win it all if goaltending holds up
[11:50] {Will49} best coaching staff in league, imho
01[11:53] {Threei}  MET... can't it be?
[11:54] {Les} took quarter off into thsi spike
[11:54] {Will49} ahhhh, sweet relief
01[11:54] {Threei}  lol
[11:54] {Les} finally pissed yer pants hey
[11:55] {Will49} big empty coffee cup
[11:56] {Will49} anyway, at my age, i have a stack of depends nearby
01[11:56] {Threei}  1:2 baby
[11:58] {thomcbell} lovely
[11:58] {Les} wlt .65 short?
[11:58] {jdetente} 1:3 nice
[11:59] {Will49} out 1:3 worth the painful wait :)
01[12:00] {Threei}  woohoo
01[12:00] {Threei}  Ripley's trade
[12:00] {Les} Ripley?
[12:00] {Will49} rip my bladder
01[12:00] {Threei}  as in \Ripley's Believe it or Not
[12:00] {Les} ah
01[12:01] {Threei}  WLT, coin toss
[12:01] {Les} k
01[12:01] {Threei}  Warren Buffett Joins Twitter
01[12:01] {Threei}  on.wsj.com
01[12:01] {Threei}  Pigs aren�t flying, lambs aren�t lying down with lions, and hell isn�t getting any cooler. But Warren Buffett is joining Twitter.
01[12:02] {Threei}  C 1:2, out
01[12:02] {Threei}  can I go home?
[12:03] {Les} cost you a fifth of vodka
[12:03] {jdetente} didn't C cross back down below entry after hitting 1:1?
01[12:03] {Threei}  it did?
01[12:03] {Threei}  I left for a few min, didn't see it
[12:03] {Les} 100 or 200 shares worth yeh
[12:03] {jdetente} hit 45.98 I believe
01[12:04] {Threei}  lucky bathroom break for me then
[12:04] {jdetente} see it pays not to use depends
[12:04] {backman} yes...i wondered if stop was BE once u unloaded 1/2 at .09?
01[12:05] {Threei}  yes
01[12:05] {Threei}  so... should I return the profit from the second half to the maket?
[12:06] {jdetente} lol
[12:06] {backman} no....plz send to my nigerian trading account
[12:07] {backman} CAt might be reversing...never can be too sure
01[12:22] {Threei} Short Setup: GLD  142 break hl
[12:26] {Will49} is this alert just designed to keep me in my seat thru lunch? :)
[12:26] {jdetente} not anymore
01[12:26] {Threei}  lol
[12:26] {Will49} there!
01[12:27] {Threei}  wow MET
[12:27] {Will49} free to have a s/s/s/s
[12:27] {jdetente} you killed the trade Will
01[12:27] {Threei}  who'd have thought
[12:27] {Will49} sorry
[12:27] {Les} HoD here MET
01[12:27] {Threei}  what's that? 4 rolls of sushi?
[12:27] {jdetente} 4 rolls of something
01[12:27] {Threei}  curled up bacon?
[12:27] {Will49} sh**, shower, shave and shampoo
[12:28] {Will49} old military lingo
01[12:28] {Threei}  excuse me... you mean you traded unshaved??
01[12:28] {Threei}  no tie??
01[12:28] {Threei}  I am shocked
[12:28] {jdetente} I trade in suit
[12:28] {Will49} oh gawd....busted
[12:29] {Will49} yeah jd...birthday suit i bet
[12:29] {jdetente} hehe
[12:29] {jdetente} now I'm busted :(
[12:29] {Will49} does anybody what Les wears?
[12:30] {Will49} wonder
[12:30] {Will49} nemo?
01[12:30] {Threei}  and all this despite [10:15] * Buster (Buster@2a2ca4.30175d.a80f2d.3b7541) Quit
[12:30] {jdetente} leiderhosen?
[12:30] {Will49} haha
[12:30] {nemo} very long sleeved jacket with extra belts
01[12:31] {Threei}  as long as Les is not scottish, I don't care
[12:31] {Will49} LOL
01[12:31] {Threei}  is he is, make sure he is not a parachutist
[12:31] {jdetente} lol
01[12:31] {Threei}  is = if
[12:31] {nemo} as long as he lands on a barbed wire fence
[12:31] {jdetente} Scottish paratrooper...deadliest armed forces
[12:31] {Les} we bored
01[12:32] {Threei}  jf and ron must have forgotten how insane we can be
[12:32] {Will49} don't worry Les, we are too
01[12:32] {Threei}  I mean, vision of scottish parachutists is not for faint heart
[12:33] {Will49} be careful Vad, I'm half Scot and half Viking
[12:33] {Will49} guess which half
[12:33] {nemo} so you're beserk
01[12:33] {Threei}  so... kilt and hat with horns for the next party?
[12:33] {jdetente} I found Les :(
[12:33] {jdetente} http://www.starpulse.com/news/media/Bruno-Lederhosen-3.jpg
01[12:33] {Threei}  my eyes
[12:33] {Will49} LOL Vad
01[12:33] {Threei}  retina burned
[12:34] {nemo} pru looks short here
01[12:34] {Threei}  (DE) Germany Chancellor Merkel: Emerging economies in Latin America and China are a threat to Germany
01[12:34] {Threei}  seriously?
[12:35] {Will49} it's OK passmm, we'll be finished horsing around shortly
01[12:35] {Threei}  your frikin union is a threat to Germany
01[12:35] {Threei}  and if you don't see it, you are a threat to Germany
[12:35] {Les} she wanna do what? start up the German war machine again?
[12:36] {nemo} Redux escaped.....little bastard
01[12:36] {Threei}  sooner or later it'll happen
01[12:37] {Threei}  when US withdraws its military presence, a lot of military machines are going to be restarted all over the world
[12:37] {nemo} Germans are pussies now
[12:38] {Les} beer drinking pussies with beautiful blondes. that counts
[12:39] {jdetente} Europe is lost...and U.S./Canada heading down the same path
[12:40] {Les} what outta the house nemo?
[12:41] {Will49} see any owls around nemo?
01[12:41] {Threei}  in an unlikely turn of events, Canada suddenly became the most conservative of the bunch
01[12:41] {Threei}  who would have thought
[12:41] {jdetente} seriously
[12:41] {Will49} wait till we unleash our 3-ship navy
01[12:41] {Threei}  GLD
01[12:41] {Threei}  setup is back
01[12:42] {Threei}  we also have 2 planes and three Canadian Geese in confederate hats, will
[12:42] {Will49} :)
[12:45] {nemo} haven't seen any owls since hunting season
[12:45] {Will49} it's the one you don't see that gets Redux
[12:46] {nemo} nah, not in the house
[12:47] {Les} MET DT
01[12:50] {Threei}  http://www.raesidecartoon.com/dbtest/index.php?com=default&o=0&i=2664&category=73#image
[12:50] {jdetente} GLD does not want us to short it
[12:50] {nemo} the world uses the US as it's army
[12:51] {Will49} good one Vad
01[12:51] {Threei}  and swears at US fpor being the world's police, nemo
[12:51] {nemo} yep
[12:51] {Will49} nemo, how do you think we keep our health care costs low?
01[12:52] {Threei}  I say withdraw from everywhere and let them fend for themselves
[12:52] {nemo} Same with the rest of the world
[12:52] {nemo} we should charge the world, or else
[12:52] {Will49} sorry, you're stuck with us
[12:52] {nemo} cough it up Canada, or say bye bye Montreal
[12:52] {nemo} takes care of two problems
01[12:53] {Threei}  hmmm
[12:53] {nemo} francophiles
[12:53] {Will49} we're holding our breath till the day you come after our fresh water
01[12:53] {Threei}  you can have whole Quebec but leave us Montreal please
[12:53] {nemo} nah
01[12:54] {Threei}  in another rather ironic turn of events... you know the only war US lost, and to whom?
[12:54] {Will49} our francophiles are much like their french cousins, only more polite
[12:54] {nemo} irrelevant...part of the disease
[12:54] {Les} no, which one?
[12:55] {nemo} Vietnam
[12:55] {nemo} France was there right before that
01[12:55] {Threei}  http://www.lutins.org/1812.html
[12:56] {Les} oh, ok
[12:56] {Les} wasn't think trick question, like Mexico or Cuba, Spain
[12:56] {Les} was thinking trick
01[12:56] {Threei}  1812, war with Canada
[12:56] {Les} early century stuff
[12:56] {Les} went to war against canada?
[12:56] {nemo} British colony
[12:59] {Les} MET .90 long?
01[12:59] {Threei}  no
01[12:59] {Threei}  right chart, wrong time
[13:01] {Les} WLT cup and handle was good for 1:2
[13:07] {nemo} apa short
[13:07] {Les} hmmm WLT 17 break down if it holds .10?
01[13:15] {Threei}  can't tell
[13:15] {Les} see if it heasds back to LoD as the close approaches
[13:17] {stevw} BBRY possible c&h forming
[13:24] {stevw} well ... i did say "possible"
01[13:24] {Threei}  GLD
01[13:24] {Threei}  again
01[13:24] {Threei}  one of thesde times
01[13:24] {Threei}  feels like it's time for it to obey the gravity
[13:29] {Will49} not on short list
[13:42] {RonS} quote from nemo?  I can tell people are judgmental just by looking at them.
[13:43] {Will49} LOL
[13:57] {Alexs} r u in GLD trade Vad?
01[13:58] {Threei}  yes, and dying of boredom
06[14:00] * Threei trips GLD and pushes it over the edge of the cliff
[14:01] {nemo} reminds me of subway technique
[14:01] {Will49} sheeesh, i tried 3-4 times to short but got declined
[14:02] {Will49} discrimination against canucks:)
[14:02] {Les} always the charmer Nemo
[14:02] {nemo} try one of the inverse gold etfs
[14:03] {jdetente} well I've got a meeting to go to...ditching GLD. See you all tomorrow.
[14:03] {nemo} yeah, gently step on the foot, little shoulder shot into an oncoming train, no problem
[14:03] {Les} cheers jd
[14:04] {jdetente} thanks for the trades Vad
01[14:04] {Threei}  take care jd
01[14:04] {Threei}  yw
[14:05] {Les} oh come on vad wave magic 2x4 at GLD
01[14:06] {Threei}  should die without that
01[14:06] {Threei}  there you go
01[14:06] {Threei}  1:1
01[14:06] {Threei}  perseverance
[14:06] {Les} threats
[14:07] {Les} 1:3 target?
01[14:07] {Threei}  if we find this much patience, yes
[14:08] {Les} hehehe wise word
[14:08] {Les} s
[14:10] {Les} lower high WLT
[14:10] {nemo} tink the top is in for the day
01[14:14] {Threei}  1:2
[14:14] {Les} quarter at .81
[14:15] {Les} http://ireport.cnn.com/docs/DOC-966426
[14:15] {Les} bitcoin ponzi coming unstuck
[14:16] {Les} out on a trail ty
01[14:17] {Threei}  yw
[14:43] {Les} .
[14:44] {Will49} your point?
01[14:44] {Threei}  not to put too fine point on it
[14:44] {Les} no point
[14:44] {Will49} as nemo would say, only at the top of your head
01[14:45] {Threei}  hmmm... we have a resort here, called Point No Point
[14:45] {Les} BBRY warming up with a bit of volume
[14:46] {Les} dunno if failure to hold 16 shourl suver as short. indexes want up
[14:48] {nemo} the SIMAGA rally is starting
[14:51] {Les} SMH breaking out of a 9 year pennant
[14:51] {Les} could be start of something new
[14:55] {Les} vad FCX .35 short?
01[14:56] {Threei}  I like
01[14:56] {Threei}  tight stop, .41
[15:09] {Les} http://www.imdb.com/title/tt1535108/
[15:09] {Les} cool, one of my favourite sci fi directors gotta new film for summer
[15:10] {Les} I like the space station eden for uber wealthy
[15:17] {RonS} 6 in of snow almost gone in 42 degree mile high sunshine  :O
[15:27] {Les} stopped and outta here. decent day overall. a+
[15:29] {Will49} see ya Les
[15:29] {Les} will miss 1st half trading tomorrow vad, c u for afternoon fishies
[15:29] {Les} cy will
[15:47] {nemo} nflx
[15:47] {nemo} not the stock
[15:47] {nemo} I'm so bored
[15:47] {nemo} I'm watching
01[15:48] {Threei}  finishing with stall
01[15:48] {Threei}  can't find last trade
[15:48] {nemo} bathroom stall?
[15:48] {Will49} I'm going back in my stall too for the afternoon
[15:49] {nemo} watching "Fringe"  good show
[15:49] {Will49} nice hay sandwich waiting for me
01[15:49] {Threei}  ok... running out of time
01[15:49] {Threei}  thank you all, have a good evening
[15:49] {Will49} Not a bad day...be good everyone
01[15:49] {Threei}  see you tomorrow

Wednesday, May 1, 2013

May 1 2013

FOMC days are rarely easy but we handled this one nicely, with 5 wins out of 7 trades. 


Session Time: Wed May 01 00:00:00 2013

01[08:58] {Threei}  morning patel
[08:58] {stevw} g'mornin
01[09:00] {Threei}  stev :)
01[09:00] {Threei}  *(US) APR ADP EMPLOYMENT CHANGE: +119K V +150KE (lowest since Sep 2012)- Prior ADP Employment Change revised lower from +158K to +131K
[09:01] {dino} gm & ugh
01[09:02] {Threei}  dino :)
[09:02] {stevw} what's up dino?
[09:02] {dino} flipped fire afterhours for 2 bucks, thing is now up 5
[09:03] {dino} i got out at 49.62
[09:04] {stevw} what were you seeing - capitulation?
[09:04] {dino} yes hit 45's
[09:06] {Les} screw Nemo and good morning to the rest of ya
01[09:07] {Threei}  how delightfully impolite
[09:08] {Les} not sure I got first insult in for the day, but I try
[09:08] {cipher} gm
[09:08] {Les} ya bunny still living Nemo?
01[09:10] {Threei}  cipher :)
[09:10] {nemo} probably longer than you Les
[09:11] {Les} hehehe
[09:11] {Les} I'll take bunny off yer hands with a plate of polenta any time you want
[09:12] {jdetente} morning all
[09:12] {nemo} I'm thinking Fava beans and a chianti
01[09:12] {Threei}  jd :)
[09:13] {Les} ugh green beans, that's like ... healthy crap. u can sell that to vad
[09:13] {Les} and the metals futures are lighting up
[09:18] {Les} risotto of summer black truffel mushrooms and rabbit fricasée...
[09:18] {Les} almost the season
[09:20] {thomcbell} can you freeze that and send it to nyc for me - :)
[09:20] {thomcbell} Les
[09:20] {stevw} hmm ... i don't recall this kind of stuff on the Market Muse Morning Tuneup cd
[09:21] {Will49} gm
[09:21] {Alexs} gm
[09:21] {Les} philistine tbell
[09:21] {Les} Italian cooking, straight off the pan and into the gullet
[09:21] {nemo} vxx could be tradeable today very liquid, likely to have range
01[09:21] {Threei}  will, alex :)
01[09:22] {Threei}  this is our newest approach, stec... pretend market doesn't exist
[09:22] {stevw} aah - sound more zen than tao
[09:24] {Les} still have fond memories of small family restaurant in Lecco in Italy, Grandma pumping out trolley after trolley of risotto, lasagne, spaghetti alle vongole... This is what Europe is about, not this frikin Euro BS
[09:25] {Les} Italy could be great again once it drops the single currnecy
03[09:25] * Retrieving #discussions modes...
[09:31] {backman} .
[09:32] {Les} can we stop pretending market doesn't exist now? :)
01[09:32] {Threei} Long Setup:  GDX  .35 break
01[09:33] {Threei}  If holds  .27
[09:34] {Les} vad 17 1.3 or 13 1.7 bb's?
01[09:35] {Threei}  13 1.7
[09:36] {Les} ty adding em in today
01[09:36] {Threei}  1 cent to 1:1
[09:36] {Les} misread you took .30 break half out
01[09:36] {Threei}  trail stop to .29
01[09:37] {Threei}  half out
01[09:37] {Threei}  1:1
[09:37] {RonS} gm...quite the troop these days  :)
01[09:37] {Threei}  stop to .34
01[09:38] {Threei}  Ron!!
01[09:38] {Threei}  welcome back!
[09:38] {cc_9} Good morning Fellas
01[09:38] {Threei}  cc9 :)
[09:39] {RonS} ty...been slipping into old bad habits...time to come to Jesus  ;)
[09:39] {Les} lol
01[09:39] {Threei}  1:2
[09:40] {Les} all out .57 from .33 ty
[09:40] {thomcbell} hig pivot test - will look for a long setup somewhere in here
[09:41] {jdetente} all out too. thanks Vad.
01[09:41] {Threei}  :)
[09:41] {dino} rbc sm l .00 gappy
[09:42] {Will49} nice start...ty Vad
01[09:43] {Threei}  yw
[09:46] {nemo} Hey Ron...nephew came home with another baby rabbit the other day
01[09:46] {Threei} Short Setup: SLW  .90 break
[09:46] {RonS} ya, been reading the log...you're nuts with those things...
[09:46] {dino} rbc stop .65 -.35
[09:47] {nemo} nephew's fault
01[09:47] {Threei}  he is nuts, period
[09:47] {nemo} Vad...remember, I'm an exorcist...which means not only can I take them out...I can put them in
[09:48] {Les} yeh, he's nuts
01[09:48] {Threei}  good to know
[09:48] {Les} not HIS nuts, he's nuts
[09:48] {dino} ccg drop
[09:49] {nemo} obviously, Les is in need of my services.."Nuts"
[09:49] {Les} bout time you came over and said hello0
[09:49] {nemo} cat
[09:51] {patel} stop on SLW
[09:51] {dino} ccg sm l .99
[09:51] {patel} 24
01[09:51] {Threei}  standard
01[09:51] {Threei}  just above
[09:53] {thomcbell} long setup tyc 32.09 break if holding 32
[09:54] {nemo} mpc
01[09:54] {Threei}  oh come on SLW, die already!
[09:54] {thomcbell} long setup hig 27.94 break if holding 27.86
[09:58] {Les} violence time for slw me thinks
[09:59] {cipher} TSLA L .70
[09:59] {cipher} out .87
[09:59] {Will49} SLW=SLOW
01[10:00] {Threei}  quite uncharacteristically I might add
[10:00] {cipher} TITN L .06
01[10:00] {Threei}  *(US) APR ISM MANUFACTURING: 50.7 V 50.6E; PRICES PAID: V 52.6E
01[10:00] {Threei}  *(US) MAR CONSTRUCTION SPENDING M/M: -1.7% V 0.6%E
[10:01] {dino} ipgp
[10:01] {dino} sm l .90 pulp
[10:01] {cipher} ntap l.76
01[10:02] {Threei} Short Setup: GDX  .60 break
01[10:02] {Threei}  If holds  .65
[10:03] {cipher} out NTAP .90 +.14
[10:04] {nemo} got resistance at .70 Vad
[10:06] {dino} rbc .00 trig
[10:07] {stevw} short setup on C?
[10:08] {Les} spy touched 160 premarket back to 159 bounce time if ever
01[10:08] {Threei}  was at 46
[10:08] {thomcbell} hig out
[10:09] {stevw} yup, too late
[10:09] {cipher} sgen l .08
01[10:09] {Threei}  SPY shoud lose 159 now
01[10:09] {Threei}  flash down, and then bounce
[10:10] {dino} out ipgp .44, +.54
01[10:10] {Threei}  come on, what's with this struggle
01[10:11] {Threei}  things shouldn't be this slow this early
[10:11] {stevw} battle for 42 in TNA
[10:11] {Les} if only the market knew the dark side of the force
[10:11] {dino} fed day
[10:11] {thomcbell} kors curiously strong - chart was settin gup in multiple time frames
[10:12] {Les} canning GDX .53 +.05 holding slw
01[10:13] {Threei}  GDX 1:1, finally
[10:14] {Les} nice candle IWM
[10:14] {Les} daily
01[10:15] {Threei}  half out SLW
[10:15] {cipher} uthr l .95
01[10:15] {Threei}  stop to .95
01[10:17] {Threei}  I didn't sign up for being so patient at such early time
01[10:17] {Threei}  SLW 1:1, double finally
01[10:17] {Threei}  GDX 1:2
01[10:17] {Threei}  OK, patience is still a virtue
[10:18] {Les} story of my life, or lack of
01[10:18] {Threei}  I don't know why you are in such a hurry
01[10:18] {Threei}  let them work
01[10:18] {Threei}  vu wei
01[10:18] {Threei}  there is natural flow of things, don't meddle
[10:18] {Les} is that austrian?
[10:19] {nemo} FrankenLes
[10:20] {Les} I know I have to get greedier on the good days, but after the last few days happy to collar them quicker
01[10:21] {Threei}  for those who still haven't read A Taoist Trader,
01[10:21] {Threei}  One of Taoism�s most important concepts is wu wei, which is sometimes translated as �non-doing� or �non-action.� A better way to think of it, however, is as a paradoxical �Action of non-action.� Wu wei refers to the cultivation of a state of being in which our actions are quite effortlessly in alignment with the ebb and flow of the elemental cycles of the natural world. It is a kind of �going with the flow� that is characterized by great ease and awake-ness, in which - without even trying - we�re able to respond perfectly to whatever situations arise.
[10:21] {cipher} VCLK L.67
[10:24] {nemo} fdx
01[10:25] {Threei} Short Setup: CAT  .50 break hl
01[10:25] {Threei}  If holds  .60
[10:27] {Les} RIG 51 short might be a setup
[10:27] {Les} if it drops
01[10:27] {Threei}  1:1
01[10:29] {Threei}  1:2, out
[10:29] {Les} me 2 ty
[10:30] {patel} wow man
[10:30] {patel} just lost internet while in middle of the CAT trade.
[10:30] {jdetente} yikes
[10:30] {patel} had to call my broker to close my trade.
[10:30] {jdetente} that happened to me a couple of weeks ago..no fun
[10:30] {patel} oh yeah its no fun.
[10:31] {patel} Good thing CAT was in my direction
[10:31] {jdetente} switched to my smart phone to close the trade. lol
01[10:31] {Threei}  yeah
[10:31] {patel} anyways out +.20
[10:31] {patel} thanks Vad
01[10:31] {Threei}  sure thing
[10:31] {Will49} nice on Cat tks...out a bit early
[10:32] {cipher} out UTHR .17 +.22
[10:32] {Les} fusion just did an auto reconnect on me so perhaps not just local to patel
[10:33] {patel} Les, I lost everything
[10:33] {patel} internet, phone
[10:33] {patel} and I am on DAS trader.
[10:33] {nemo} that was me Les
01[10:33] {Threei}  lol
[10:34] {stevw} watching TNA for a setup - can't figure it out yet
[10:34] {nemo} o.k. bellbutton cleaning time until Bennie
[10:35] {nemo} this low on IWM is the new monthly pivot as of last night.
01[10:35] {Threei}  I don't see anything clear on TNA yet, stev
[10:36] {dino} agn drop
[10:36] {Les} miners have almost stopped trading
[10:36] {Les} might argue inverted cup and handle here on GDX
[10:37] {Les} or H&S
[10:37] {dino} agn sm l .80 pulp
[10:41] {cipher} out VCLK .86 +.19
[10:42] {dino} out agn .30, +.50
[10:44] {cipher} wtg
[10:44] {cipher} I only got .+30
[10:45] {dino} elli sm l .45
[10:45] {dino} lol cipher
[10:45] {dino} ccg to .15
[10:46] {dino} out ccg +.15
[10:47] {nemo} whoa, bids pulled in ffiv
[10:48] {dino} thg gap fill
[10:49] {cipher} thg l.12
[10:49] {dino} sm l .12
[10:49] {dino} huge beat yesterday
[10:53] {backman} GDX..on the way to new lows?
[10:53] {dino} maybe so
[10:53] {thomcbell} ctrying to double bottom
[10:55] {cipher} MEOH L .97
[10:55] {Will49} looks like Fed news leaked early again
01[10:55] {Threei}  hard to tell, GDX
[10:56] {Les} that'd be shocking will
01[10:56] {Threei}  activity dies down for Fed
[10:58] {nemo} fdx
[10:58] {nemo} drop of .90, but got a whack-a-mole feel about it
[11:00] {backman} GDX had big breakout above .40 yesterday...fwiw
[11:00] {dino} stop thg .92 -.20
[11:03] {cc_9} IWM/TNA weaker than overall market
[11:03] {cc_9} already back to lows
[11:04] {dino} 07 green
[11:04] {nemo} yeah, low is new montly pivot, 50 sma just below around .50ish, weekly pivot 92.20
01[11:04] {Threei} Long Setup:  TNA  .70 break hl
[11:04] {nemo} fat finger stop hunt on fdx, likely means lower
01[11:04] {Threei}  If holds  .60
[11:04] {dino} thg rinse
[11:05] {backman} tna 2 waa?
[11:06] {dino} agn drop
01[11:06] {Threei}  I don't think you can short TNA
[11:06] {nemo} short iwm
[11:06] {dino} halt/
01[11:08] {Threei}  AGN US appeals court affirms in part and reverses in part case against Watson, Novartis
01[11:08] {Threei}  AGN Exec: Darpin eye drug phase 2 data does not support taking it directly to Phase 3 trial - conf call comments
01[11:09] {Threei}  1:1
01[11:09] {Threei}  1:2
[11:09] {Les} sweet. ty
01[11:09] {Threei}  yw
[11:10] {patel} THANK YOU
[11:10] {patel} sorry about hte caps
01[11:10] {Threei}  :)
[11:10] {jdetente} good trading. Thanks Vad.
06[11:10] * Les SLAPS PATEL FOR BAD ETTIQUETTE
01[11:10] {Threei}  welcome guys... 5:5 so far
01[11:11] {Threei}  with 7:8 yesterday, I think we slapped them back good for Monday
[11:12] {Will49} your mojo workin'
[11:12] {cipher} HMIN L.47
[11:12] {Will49} have no idea what a "mojo" is
[11:12] {Les} AUS/USD getting closer to break 36 mth range. could be bye bye to commodity wealth for aussies soon
[11:13] {Les} could be signalling
01[11:14] {Threei}  have to ask Austin Powers, will
[11:14] {Will49} :)
[11:15] {Will49} Mojo may refer to: Mojo (African American culture), a magical charm bag used in hoodoo.
[11:15] {Les} http://www.youtube.com/watch?v=a6Acigj8isc
01[11:16] {Threei}  lol
[11:17] {Will49} LOL
[11:17] {cipher} BSFT L.87
01[11:17] {Threei}  no questions remain unanswered for too long here, eh will? :)
[11:17] {Will49} What the h**** did we do before the internet?
01[11:17] {Threei}  there was "before the internet"?
[11:18] {Les} 20 years old, yeh
[11:18] {backman} like when porn was on paper?
[11:19] {Will49} what is porn?
[11:19] {Les} didn't take em long to get internet out of physicists room and into porn yeh
01[11:19] {Threei}  what is paper?
[11:19] {Will49} haha
[11:19] {Les} got shelves of it surrounding me
01[11:19] {Threei}  porn?
[11:19] {Les} hehhehe paper
[11:19] {nemo} got there first
[11:19] {Will49} toilet paper?
[11:19] {RonS} BREAKING: Three suspects in custody in Boston Marathon bombing: Boston police
[11:20] {Les} not ready for tablet reading yet
01[11:20] {Threei}  (US) Boston police indicate that they have taken 3 additional suspects in to custody related to the investigation into the Boston Marathon bombing
[11:21] {cipher} THG stopped .99 -.13
[11:24] {patel} FCX short under 30
[11:24] {Will49} waht time is Fed news expected?
[11:24] {Will49} what
01[11:25] {Threei}  way too narrow, patel
[11:25] {nemo} 2:15
01[11:25] {Threei}  will hold you hostage for hours
[11:25] {Will49} tks nemo
[11:26] {nemo} EXPE
[11:26] {backman} cat approaching new low
[11:26] {nemo} frickin' dis
01[11:33] {Threei}  suspects arrested are college students
01[11:33] {Threei}  I say close the colleges
[11:35] {backman} yah...we need more uninformed traders
[11:37] {jdetente} going to college makes you uninformed...
[11:37] {jdetente} un-informed that is hehe
01[11:37] {Threei}  uniformly uninformed
[11:37] {cipher} SODA L .87
[11:38] {ese} mornin ladies and gents.....just poppin in for a few minutes from Memphis Tenn
[11:38] {ese} how the hell are ya
01[11:38] {Threei}  hey ese!
[11:38] {ese} vad
01[11:38] {Threei}  we are good
[11:39] {ese} so are we......and we made Canadian Music history here
[11:39] {backman} FCX breaking down with gdx
[11:39] {cc_9} TNA getting boring
01[11:39] {Threei}  when are you back?
[11:39] {ese} first band from canada to play at stax to the max festival
[11:39] {ese} next week
[11:40] {Will49} congrats ese
[11:40] {Will49} wouldn't have happened without you
[11:41] {ese} the founder of stax Al Bell came back stage after our show in tears.....this is the man that signed Isaac Hayes, the Staple Singers,,Ottis Redding, Wilson Picket.......he loved us and might be signing one of the girls
[11:41] {Will49} excellent
[11:42] {ese} it's awesome down here........maybe the friendliest people on the planet
[11:42] {ese} especially in the Soulsville community
[11:42] {ese} am off to the civil rights museum....cya next week
[11:43] {ese} take care
01[11:43] {Threei}  have fun
[11:43] {Will49} peace
[11:43] {ese} tks vad will
[11:44] {patel} fcx
[11:44] {patel} sorry
[11:47] {cc_9} TNA cliff dive
[11:55] {dino} azpn drop
[11:55] {dino} sm l .97
[12:01] {dino} out azpn .57, +.60
[12:02] {dino} taking break
01[12:02] {Threei}  wtg
[12:11] {RonS} 6in of snow here since 6 am...more 'til morning  :P
[12:12] {dino} that sucks ron
01[12:13] {Threei}  wow
01[12:13] {Threei}  in May
[12:14] {dino} you're breaking snow and cold records aren't you/
01[12:14] {Threei}  global warming decided to skip most of the globe
[12:15] {dino} in ne pa we broke most consecqutive days below 10 f, frpm the 1940s
[12:16] {Les} back for close a+
[12:17] {thomcbell} long setup kors 57.10 break if holding 56.99
[12:20] {Will49} Ron, where are you?
[12:20] {RonS} Denver CO
[12:21] {Will49} Wow, that is surprising
[12:21] {Will49} in the mountains?
[12:21] {RonS} no
[12:21] {Will49} egads
[12:21] {Will49} as they say on Downton Abbey
[12:24] {cc_9} KBH looks good here for 21.97 s/l
[12:28] {patel} This internet issue is really annoying.
[12:28] {patel} Was just told by Comcast it will be fixed by 3:25 pm
01[12:28] {Threei}  wow, such precision
[12:42] {cipher} ADSK L .56
[12:43] {cipher} EVEP L.85
[12:46] {cipher} CSTR L.04
[12:47] {thomcbell} cstr intresting righ tnear 200sma
[12:49] {cipher} ADSK stoped  .52 -.04
[12:57] {cipher} out EVEP .05 +.20
[13:08] {cipher} IBM L.26
[13:08] {stevw} didn't miss much by going to the gym for the last hour, did I!
01[13:08] {Threei}  not at all
01[13:08] {Threei}  unless you count hearing loud snoring as a miss
[13:08] {dino} elli sm l .95
[13:12] {backman} TNA bounce?
[13:12] {stevw} maybe BBRY will soon stop doing what it's been doing
01[13:13] {Threei}  TNA doesn't look ready yet
01[13:13] {Threei}  you mean sucking, stev?
01[13:13] {Threei}  I doubt it :)
[13:13] {stevw} hey, you're not making fun of a local company, are you?
[13:14] {stevw} (local to me)
01[13:14] {Threei}  one of privileges og libing on island, you don't view the mainland as local :)
01[13:14] {Threei}  of living
[13:15] {stevw} i don't say there's a smart trade coming up, but that seems to be a narrowing triangle that will break one way or another soon
01[13:15] {Threei}  it needs some new catalyst for activity, became too narrow and boring lately
[13:16] {cipher} out IBM .56 +.30
[13:19] {dino} gj
[13:20] {cipher} ty
[13:23] {cc_9} TNA is trading as if it kidnapped someone, still hanging around in the basement.
[13:24] {stevw} the selling seems to have abated, though
[13:24] {cc_9} 3pt drop on the day, jeez
[13:24] {cc_9} thats what i thought before it got clubbed another .60
[13:24] {cipher} INCY L .50
[13:24] {cc_9} VIX is not even that high today, sitting tight on KBH long for now
[13:38] {cipher} out INCY .55
[13:49] {dino} bofi drop thin
[13:50] {dino} sm l .84 ave
[13:51] {cc_9} TNA more death geez
[13:51] {cc_9} KBH got stopped
[13:51] {dino} watch tna off of fed
[13:51] {dino} tlt too
[13:56] {cipher} JBHT L.20
[13:57] {nemo} algo's should be pulling liquidity
01[14:00] {Threei}  *(US) FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED): WILL CONTINUE TO PURCHASE LONG TERM TREASURIES AT $45B/MONTH AND $40B/MONTH IN MBS- Vote 11-1 (dissenter Esther L. George, who was concerned that the continued high level of monetary accommodation increased the risks of future economic and financial imbalances and, over time, could cause an increase in long-term inflation expectations.)
[14:00] {cc_9} good call dino
[14:02] {cc_9} welp, that was short lived.
[14:02] {Will49} same old, same old
[14:02] {cipher} out JBHT .30 +.10
[14:03] {cc_9} it ain't nuffin' but a reptilian thang
[14:05] {dino} tna sm l .20
[14:05] {dino} angi drop
[14:05] {dino} sm l .15
[14:06] {RonS} citron research commenting on angi accting
[14:09] {dino} out angi .55, +.40
[14:09] {nemo}   0 of 9 is off his meds
[14:09] {dino} ty ron
[14:10] {nemo} ron dcc
[14:11] {dino} big gap angi 20.40 range last week
[14:11] {dino} out tna flat
01[14:12] {Threei}  Telegraph: Franco-German axis that drove EU affairs since 1950s is "collapsing before our eyes"
[14:13] {nemo} Hope they invade France again
01[14:14] {Threei}  I heard France capitulated to North Korea recently, just in case
[14:15] {nemo} hfc looks short
01[14:15] {Threei}  Court papers: Two defendants destroyed and concealed bombing suspect Tsarnaev's backpack, laptop
[14:15] {dino} tna sm l .05
[14:17] {dino} out bofi .14, +.30
[14:18] {dino} angi sm l .01
[14:20] {dino} out tna .35, +.30
[14:26] {dino} out angi .35, +.34
[14:33] {dino} angi sm l .02
[14:34] {dino} stop is .79
01[14:35] {Threei}  watching GDX for bounce to short
[14:35] {nemo} fFiv looking short
01[14:38] {Threei} Short Setup: GDX  .80 break
01[14:38] {Threei}  If holds  .85
[14:41] {dino} tna sm l .01
[14:42] {dino} angi sm l .55
[14:42] {dino} stop is .48
01[14:47] {Threei}  no go
[14:49] {dino} out angi .05, +.50
[14:49] {cipher} wtg
[14:49] {dino} ty
[14:50] {dino} imo, rally starting
01[14:52] {Threei} Long Setup:  TNA  .10 break
01[14:52] {Threei}  If holds  41
01[14:52] {Threei}  target 1:4
01[14:55] {Threei}  159 SPY break should set it free
[14:59] {cipher} CLMT L.01
01[15:00] {Threei}  grrr
01[15:01] {Threei}  not getting after-FOMC mood right
[15:02] {backman} buy break of 41....tight stop?
01[15:02] {Threei}  this is not a valid swtup, this is guess
[15:03] {backman} how totall out of character for me
[15:09] {jdetente} alright fellas calling it a day. Catch ya tomorrow...
[15:09] {jdetente} thanks for the trading ideas Vad
01[15:09] {Threei}  sure thing
[15:14] {Les} Where is the play and what is my part?
[15:15] {Les} what we in?
[15:15] {backman} u are the jester...keep smiling
01[15:15] {Threei}  nothing right now
06[15:15] * Les smacks backman for speaking the truth
[15:16] {backman} thank u sir...may i have another?
06[15:16] * Les obliges bman with another 4x2
[15:21] {Les} http://tinyurl.com/boncfdt
[15:23] {Les} surprisingly enjoyable film still after 15 years
[15:23] {Les} miners caving in
[15:26] {Les} VMW interesting, but not yet a setup
[15:27] {Les} PVH short 1115?
[15:27] {Les} 115 hl?
[15:28] {Les} spread is large
01[15:28] {Threei}  yeah
[15:29] {Les} GMCR just left the gate from 57
[15:30] {Les} and just like PVH, not selling off in a hurry
[15:31] {Les} impression that its just the index ETF's being pushed lower
[15:34] {Les} benny have anything worth hearing today?
[15:34] {Les} say
01[15:37] {Threei}  not really
[15:37] {Les} nothing new to feed the bulls?
[15:37] {Les} ...the addicts
01[15:38] {Threei}  "we will increase or decrease depending on decreasing or increasing"
01[15:39] {Threei}  "getting better but more work to do and risks remain"
01[15:39] {Threei}  ese would not be happy with ben
[15:39] {Les} yeh sounds like he's laying ground work for his happy ever after biography
01[15:40] {Threei}  just wait for Ben's successor... you will miss ben
[15:41] {cipher} CLMT stopped -.10
01[15:51] {Threei}  ok guys, thank you all
01[15:51] {Threei}  have a good evening, see you tomorrow
[15:51] {Les} cheers
[15:53] {dino} gn all
[16:00] {backman} tu

Tuesday, April 30, 2013

Apr 30 2013

As customary with us, next day after a rare losing one we get them right back. One stop out of 8 or 9 trades, the rest are all wins. Ranging from scalps to 1:3, long and short, GDX, C, FB and whatnot.


Session Time: Tue Apr 30 00:00:00 2013
[09:04] {jdetente} Good morning...
01[09:06] {Threei}  morning jd
[09:09] {nemo} I have a bunny attached to my neck
01[09:10] {Threei}  I don't even know what to say... that's beyond any normal conversation-starters
[09:11] {dino} gm
01[09:12] {Threei}  dino :)
[09:12] {cipher} gm
01[09:12] {Threei}  cipher :)
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
[09:21] {backman} gm
[09:21] {Les} yo
01[09:21] {Threei}  bman, les :)
01[09:22] {Threei}  - Euro Zone Unemployment hits fresh EMU record of 12.1%
01[09:23] {Threei}  - Equity markets in Europe are mostly higher
01[09:23] {Threei}  yup... sounds about right
[09:24] {KSystems} morning
01[09:24] {Threei}  KS :)
[09:26] {Alexs} gm
01[09:26] {Threei}  alex :)
01[09:32] {Threei} Long Setup:  GDX  .45 break
01[09:33] {Threei}  If holds  .40
01[09:33] {Threei}  Invalidated
[09:33] {dino} aegr spike
01[09:33] {Threei} Long Setup:  C  .90 break
01[09:34] {Threei}  If holds  .80
01[09:34] {Threei}  GDX got away
01[09:34] {Threei}  C 1:1
01[09:35] {Threei} Long Setup:  GDX  .40 break
01[09:35] {Threei}  If holds  .30
[09:35] {thomcbell} hig very strong out of the gate on earnings
01[09:37] {Threei}  C 1:2
[09:37] {nemo} finnies ripping
01[09:38] {Threei}  GDX 1:1
[09:39] {nemo} cat
[09:39] {cipher} PRGO L .85
01[09:40] {Threei}  C 1:3, out
[09:40] {cipher} FFIV L.81
[09:40] {cipher} INFA L.55
01[09:41] {Threei}  wow
[09:41] {Les} strong market
[09:41] {cipher} out FFIV .23 +.42
01[09:41] {Threei}  are we looking at the same market les? :)
[09:41] {Les} yes, forgot the smiley face
[09:42] {Les} :)
[09:42] {cipher} out INFA .70 +.15
01[09:43] {Threei}  no news... what was that?
[09:43] {Les} turnaround tuesday
01[09:44] {Threei}  *(US) APR CHICAGO PURCHASING MANAGER: 49.0 V 52.5E
01[09:45] {Threei}  Prices Paid: 51.0 v 61.0 prior - New Orders: 53.2 v 53.0 prior - Employment: 48.7 v 55.1 prior -
01[09:45] {Threei}  deflation and underemployment
01[09:45] {Threei}  ugly
[09:45] {Les} C .95?
[09:45] {Les} short?
01[09:46] {Threei}  no
01[09:46] {Threei} Short Setup: GDX  .30 break
01[09:46] {Threei}  If holds  .40
01[09:47] {Threei}  1:1
[09:48] {Les} can smell the printer ink being primed from switzerland
[09:49] {cipher} LOGM L.60
[09:49] {nemo} mouse clicks dude
[09:49] {cipher} sial l.33
[09:49] {cipher} out SIAL .59
[09:50] {Les} C death...
[09:52] {backman} NUAN..nothing good to say
[09:53] {dino} osk sm l .32 piulp
01[09:53] {Threei} Long Setup:  CAT  .60 break hl
01[09:53] {Threei}  If holds  .50
01[09:53] {Threei} Long Setup:  C  .70 break
01[09:54] {Threei}  If holds  .65
[09:54] {Les} 2 way?
01[09:54] {Threei}  CAT was
[09:54] {dino} axll sm l .95
01[09:54] {Threei}  C, can't tell
[09:56] {cc_9} Better late than never.
[09:56] {cc_9} Morning gents.
01[09:56] {Threei}  cc9 :)
01[09:56] {Threei}  numbers at 10, let's wait out
[09:57] {cipher} ibb l.81
[09:58] {thomcbell} wow that quicck double top in lvs 1:6
[09:58] {thomcbell} in 10 min
01[09:59] {Threei}  *(US) APR CONSUMER CONFIDENCE: 68.1 V 61.0E
[10:02] {dino} out osk .89, +.67
01[10:03] {Threei} Short Setup: CAT  .50 break
01[10:03] {Threei}  If holds  .60
[10:03] {Les} C db?
[10:04] {dino} wtf .50 slip hard stop out axll -89
[10:04] {Les} ouch
[10:06] {dino} .axll sm l .18
01[10:06] {Threei} Short Setup: C  .60 break
01[10:06] {Threei}  If holds  .70
[10:09] {dino} wll sm l .22
[10:09] {cipher} infa l.26
01[10:10] {Threei}  stop to .66
[10:11] {dino} symc
01[10:12] {Threei}  out
[10:15] {cipher} out INFA .43 +.17
[10:15] {cipher} UTEK L.01
01[10:15] {Threei} Long Setup:  LVS  56 break
01[10:15] {Threei}  If holds  .90
[10:16] {thomcbell} thc 44.14 break if holding 44.04
[10:17] {cipher} ilmn l.62
01[10:18] {Threei}  1:1
[10:20] {thomcbell} thc 1:1
[10:20] {thomcbell} briefly 1:2
[10:20] {Les} CAT might setup c&h if it holds here
[10:21] {nemo} think more likely to short if gets back to 84 unless market runs
[10:22] {thomcbell} thc 1:2
[10:22] {Les} yeh contemplated .90 short, but so close to 84 wanted to see a recross
[10:22] {nemo} thing has been weak since the get go and you're looking for a long to go where?
[10:22] {nemo} just call Les "javelin catcher"
[10:23] {thomcbell} thc 1:3
[10:23] {Les} contrary, looking for aggressive entry to hand it over too longs at 84
[10:23] {thomcbell} 1:4
[10:23] {thomcbell} 1:5
[10:23] {Les} something like this
[10:24] {thomcbell} and out
01[10:24] {Threei}  wtg
[10:24] {thomcbell} tu
[10:26] {thomcbell} long setup hca 40 break if holding 39.91 - looks not ready yet but will move well if triggered
[10:26] {dino} out axll .43, +1.25
[10:27] {thomcbell} hca invalid
[10:28] {thomcbell} hca might have been a shakeout there
01[10:31] {Threei}  IBM *RAISES DIVIDNED; AUTHORIZES BUYBACK
[10:32] {dino} ironic, they always issue low and buy high
[10:34] {nemo} allows the officers to sell back to the company before the price tanks
[10:34] {dino} better use would be just dividend
[10:35] {nemo}  for whom?
[10:35] {dino} common
[10:35] {nemo} ibm at the 200 day
[10:36] {thomcbell} phwew thc
[10:48] {dino} out wll .67, +.45
01[10:49] {Threei}  US President Obama: Syria has been a slow unfolding disaster, the US has not been a bystander, reiterates President Assad must step down
01[10:49] {Threei}  Assad: yes... gimme coupla min to get my things
[10:50] {KSystems} :D
[10:50] {KSystems} {Assad} wtf
[10:51] {dino} tfx?
01[10:54] {Threei}  nothing on TFX since earnings in the morning
[10:54] {Les} GDX short .10?
[10:54] {dino} feels like wants up
[10:54] {dino} tfx
[10:54] {dino} lol, and drops
[10:55] {dino} .50 break trig
01[10:56] {Threei}  I think so Les
01[10:56] {Threei}  chart's right, time is not very conducive
[10:57] {cipher} DISH L .90
[11:01] {cipher} +.40 TFX thx dino
[11:02] {dino} gj
[11:05] {thomcbell} good spot for a db to form on aig - at marning low
[11:05] {thomcbell} morning
01[11:06] {Threei}  GDX worked
[11:06] {thomcbell} hca setup there again with 40 long break
[11:07] {cipher} DISH stopped .92 +.02
[11:12] {dino} tfx wall .75
01[11:14] {Threei} Short Setup: LVS  .15 break
01[11:14] {Threei}  If holds  .25
01[11:18] {Threei}  1:1
01[11:18] {Threei}  so far so good... what are we, 5 for 6 or something?
01[11:20] {Threei}  don't answer all at once
[11:21] {cipher} DISH L .75
[11:21] {Will49} too busy watching
[11:21] {Will49} but yes, nice morning
01[11:22] {Threei}  you mean you are trading with your eyes open will??
[11:22] {Will49} the other way didn't work too well
01[11:22] {Threei}  interesting concept...
[11:22] {Will49} more profit with eyes open
01[11:23] {Threei}  well, I can't open them since watching yesterday's election debate... my retina is burned
[11:23] {thomcbell} wow should have stuck with thc
[11:23] {thomcbell} for additional entries
[11:23] {Will49} when you call a trade at half lot, i only open one eye
[11:23] {thomcbell} instead of looking for hca
[11:23] {Will49} yeah, leaders debate was a pure bore
01[11:24] {Threei}  those are our choices, eh
[11:24] {Will49} pretty sad
[11:24] {Will49} kinda liked Jane Sterk's style though
[11:26] {cipher} biib l.11
[11:29] {KSystems} grmpf
01[11:29] {Threei}  no such symbol
[11:29] {KSystems} rrrr?
01[11:30] {Threei}  there was RRRR in 90s
[11:30] {Will49} you must be a pirate Ksystems
[11:31] {KSystems} like...Arrr?
[11:31] {Will49} :)
[11:32] {thomcbell} hca still valid
[11:39] {Les} sorry vad was doing taxi missed gDX
01[11:40] {Threei}  out last part LVS
[11:41] {Will49} nice trade...tks Vad
[11:41] {dino} geva drop thinny
01[11:41] {Threei}  :)
[11:43] {cipher} BIIB stopped .99 -.12
[11:49] {cipher} BIIB L .31
[11:50] {cipher} out .57
[11:50] {cipher} got him back
[11:57] {nemo} one could make an argument for shorting the indexes here
[11:57] {nemo} I would prefer to see IWM break 94 first
[11:58] {nemo} gap closes around 94.02
[11:58] {nemo} give or take an HFT spread
[12:03] {Les} GDX 29 short?
[12:04] {nemo} you want to do a breakdown at lunch?
[12:04] {Les} I want you to belt up
[12:04] {nemo} riding shotgun with you will definitely shorten my life
[12:04] {Les} gap closure to .25 is a potential
[12:05] {Les} on wathc for later
01[12:09] {Threei}  I remember widespread complaints about Apple maps being unreliable
01[12:09] {Threei}  with cartoons of penguins walking among polar bears, swearing about iPhone maps
01[12:10] {Threei}  yet:
01[12:10] {Threei}  Apple Inc Said to be planning an "aggressive" move into automobile integration, to embed maps and siri functionality into cars - CNET- Apple is currently working with car makers to integrate iPhones and perhaps iPods into car consoles. Apple envisions a way for iPhone owners to plug their devices into cars and then use specially optimized versions of Siri and Maps for in-vehicle use
[12:11] {dino} \going after msft sync
[12:12] {nemo} try mpc short les
[12:14] {cipher} +.10 mpc thx nemo
[12:14] {nemo} np, should be good to the whole
01[12:14] {Threei}  nice one
[12:15] {stevw} SLW off db support at 23.40 while SLV is well above morning lows
[12:15] {stevw} opinions?
01[12:15] {Threei}  new bunny looks to be quite keen on the market moves
[12:15] {nemo} below the whole
[12:15] {nemo} yeah, old bunny really discombobulated
01[12:15] {Threei}  it's at .48, stec... ?
[12:16] {nemo} this long term trend line MPC
[12:16] {stevw} i was a little slow to call it
01[12:16] {Threei}  anyway, a bit too narrow
01[12:17] {Threei}  don't see it as a play
[12:17] {cipher} mpc l .00
[12:17] {cipher} out .21
01[12:18] {Threei}  .40 break, maybe...
[12:19] {thomcbell} short setup abv - 40.49 break if holding 40.60
[12:20] {nemo} wow, that MPC trendline was strong bounce
[12:21] {dino} cnh sm l .00 break
[12:22] {thomcbell} abv invalid
[12:25] {thomcbell} rptp got approbal on a drug - on a tear
01[12:25] {Threei} Short Setup: SLW  .40 break
[12:26] {Les} inverted cup and hanlde?
01[12:27] {Threei}  kind of
[12:27] {Les} k
[12:28] {dino} cnh no go
[12:29] {nemo} mgn looks good short here
[12:29] {cipher} rptp s .50
[12:29] {Les} mgn?
[12:29] {nemo} len too
[12:30] {cipher} cov .30 +.20
[12:31] {nemo} wlt coming into bounce terrritory
[12:31] {nemo} vxx being bought
[12:32] {nemo} frickin' rabbit crawled down my shirt
[12:33] {jdetente} vxx and various similar etfs have been a consistent short all year
[12:33] {cipher} BIIB L .51
01[12:35] {Threei}  Invalidated
[12:36] {nemo} vrtx interesting spot
[12:40] {jdetente} HCA 1:1
[12:42] {nemo} vrtx good short against .10
[12:43] {nemo} except...indexes and aapl headed up...indexes probably get held up until aapl decides what it wants to do at 460
[12:46] {nemo} here comes IWM gap fill
[12:46] {jdetente} HCA 1:2
[12:46] {nemo} uninstalled IE10...was screwing with my system
[12:47] {Will49} rabbit distracted you
[12:47] {nemo} no
01[12:47] {Threei}  I haven't opened IE any single time ever since installing Win7
[12:47] {nemo} my system has been acting a bit screwy, so I default to investigating microsoft software
[12:47] {nemo} I only use it for Freestockcharts
01[12:48] {Threei}  Chrome
[12:48] {nemo} yeah, I have to kill chrome once or twice a day, silverlight has stability problems on it, no surprise, it's a microsuck product too
[12:49] {nemo} I'm very tempted to put Linux on my next box
01[12:49] {Threei}  if you have many tabs open, make sure you set Chrome to open with all tabs it had when closed
01[12:49] {Threei}  then you won;t have to reopen them one by one
[12:49] {nemo} wow volume coming into iwm
[12:53] {thomcbell} hca got 1:2
[12:53] {thomcbell} stopping last 1/4 40.03
01[12:55] {Threei}  how on earth did I forget about TNA .10 break
01[12:56] {Threei}  had it on a backburner
[12:56] {cipher} MELI S.88
[12:58] {nemo} Redux is dreaming, twitching
[12:59] {jdetente} needs to be nursed?
[13:00] {nemo} eats hard foods now, but was trying to nurse of of Bunny, she was verklemmt
[13:00] {jdetente} that must of been quite the scene
[13:01] {nemo} funny as hell
[13:01] {nemo} but poor Bunny is confused about her territory now
[13:01] {thomcbell} short setup jcp 16.78 break if holding 16.86
01[13:02] {Threei}  *(SI) MOODYS CUTS SLOVENIA SOVEREIGN RATING TO JUNK; cut two notches to Ba1 FROM Baa2; outlook remains negative- Moody's cites deterioration of Govt balance sheet and the state of the banking sector - Feels country faces undertain funding prospects and the increasing probability that it will need external assistance
01[13:02] {Threei}  heh
[13:04] {dino} shocking
[13:15] {cipher} FAST L .45
[13:16] {cipher} LBTYA L .32
[13:17] {cipher} VPRT L .45
[13:19] {cipher} out fast .65 +.20
[13:19] {thomcbell} jcp 1:1
01[13:23] {Threei} Short Setup: FCX  .95 break
01[13:23] {Threei}  If holds  30
[13:25] {cipher} out LBTYA .40 +.08
[13:28] {cipher} SPWR L .30
[13:37] {Les} C creeping closer to intraday low
[13:39] {Will49} out JCP..tks Tbell
[13:40] {Will49} shheeesh Tbell...don't take it so hard :)
[13:43] {jdetente} FCX valid again?
[13:45] {Will49} that question is above my pay grade
01[13:46] {Threei}  yes
[13:47] {jdetente} thanks Will...
[13:47] {Will49} :)
01[13:51] {Threei}  no
01[13:51] {Threei}  maybe
[13:52] {cipher} out SPWR .39 +.09
[14:05] {Les} spectacular drop from RIG this morning. closer to 51 for a short play into close maybew
[14:07] {cipher} splk l.02
[14:10] {cipher} FIRE L.07
[14:10] {jdetente} hmmm I guess FCX kinda got away
01[14:11] {Threei} Short Setup: GFX  .40 break
[14:11] {dino} nihd l .65
[14:11] {Les} that's gotta be GDX
01[14:11] {Threei}  sigh... yes
[14:14] {cipher} out FIRE .34 +.27
[14:14] {cipher} out SPLK .07 +.05
[14:16] {dino} out nihd .82, +.17
01[14:16] {Threei}  invalidated anyway
[14:17] {Les} short MON here vad?
[14:17] {Les} hl?
[14:17] {Les} h&s
01[14:17] {Threei}  yup
[14:21] {Les} HD .45 short holding .55?
01[14:21] {Threei}  can't tell
[14:22] {Les} well... ask it :)
[14:22] {Les} I swear we need a woman in this room
[14:23] {nemo} we have you
[14:23] {Will49} you mean another woman Les
[14:23] {dino} fire drop
[14:23] {Les} yeh straight on Nemo's head please dino
[14:25] {dino} fire l .34
[14:27] {dino} stop -.32
[14:27] {dino} rinsed
01[14:31] {Threei}  Upon hearing GPS agreeing with my wife, I swore off ever arguing with her again.
[14:31] {Will49} LOL
[14:33] {backman} wife....or gps?
01[14:33] {Threei}  both actually
[14:33] {nemo} vrtx
[14:34] {backman} dang, this GDX move rly has no volume in it....tempted
01[14:35] {Threei}  me too, waiting for a setup to form
01[14:35] {Threei} Short Setup: GDX  .60 break
01[14:35] {Threei}  If holds  .65
[14:36] {nemo} Hey Les, when were you in NH?  http://yhoo.it/YbDGmV
[14:36] {Les} no go MON
[14:37] {jdetente} life savings eh?
[14:37] {jdetente} haha
[14:37] {Les} his ego almost as big as yours Nemo
[14:37] {nemo} can't fix stupid
[14:38] {cipher} SPLK L.79
[14:38] {nemo} vrtx not ready to give up that level I guess
[14:40] {cipher} expe l .80
[14:40] {cipher} out EXPE .88
[14:41] {Will49} sweet
[14:42] {patel} hello
[14:42] {Will49} hey
01[14:43] {Threei}  hey patel
01[14:43] {Threei}  missed good morning...
[14:43] {patel} figured.
[14:43] {patel} atleast yall had a good morning.
01[14:43] {Threei}  not spectacular
01[14:44] {Threei}  (trying to make you feel better)
[14:44] {patel} yeah this morning would have been great
[14:45] {cipher} SPLK stopped .72 .-07
[14:48] {Les} notice GDX closed gap from yesterdays intraday low here
[14:48] {Les}  afternoon low
[14:49] {nemo} cat might be a short here
[14:50] {Les} GDX short .75?
[14:50] {Les}  holding .80?
01[14:50] {Threei}  yes
[14:50] {Les} watching slw for break of support here
01[14:51] {Threei}  same setup repeating itself at different peice levels, has to trigger at some point
[15:08] {jdetente} 1:1
[15:08] {Les} took some off at .666
[15:08] {Les} .66
01[15:08] {Threei}  has to be capable of 1:2
[15:08] {Les} first number be Nemo's skype handle
[15:09] {nemo} rubber crutch funny
01[15:11] {Threei}  [GM] Exec: not giving up on its Chevy Volt electric vehicle, despite losing money on every sale; will get cheaper to produce over time- Next generation of Volt will be $7-10K cheaper to produce.
[15:11] {Les} LOL sounds like a gold bug's investing strategy
[15:13] {Will49} even though we're losing money on every car, we're making it up on volume
[15:17] {Les} scalp scalp calp
01[15:23] {Threei} Long Setup:  FB  .75 break
01[15:23] {Threei}  If holds  .70
01[15:29] {Threei}  what on earth gave groupon an idea that I would want to go on Guided Himalayan Trek to Mount Everest Base Camp
[15:29] {Les} 100 sherpas beating up some european hikers I guess
[15:29] {Les} now no one wants to go
[15:29] {Les} groupon picks up on the cheap :)
[15:30] {Les} http://www.guardian.co.uk/world/2013/apr/30/everest-climbers-sherpa-mob-attack
[15:33] {Les} show me the link, I'll post Nemo one as a gift
01[15:34] {Threei}  half out FB
01[15:47] {Threei}  I guess 160 tomorrow for SPY
[15:48] {nemo} there's a ton of econ info coming out in the next 15 hours or so starting with China
[15:48] {nemo} 161 tomorrow ;-)
[15:48] {nemo} if the news is good
01[15:48] {Threei}  it will be mostly negative, and market will shake it off and go up
01[15:49] {Threei}  that's my version of the future
[15:49] {nemo} I see a bottle in your future
[15:51] {dino} fed tomorrow i think
01[15:51] {Threei}  yeah
01[15:51] {Threei}  non-event
[15:52] {nemo} be dead from 10:30 until then though
[15:56] {Will49} great day Vad...let's keep it rollin'(tomorrow)
01[15:56] {Threei}  thank you all
01[15:56] {Threei}  have a good evening
[15:56] {Les} cheers
[15:56] {jdetente} gn all
01[15:56] {Threei}  as always, we get them right back
01[15:56] {Threei}  see you tomorrow
[15:58] {patel} take care

Monday, April 29, 2013

Apr 29 2013


Slow creep up day with low volume, not our trading environment. Not many setups worked as follow-through is minimal on such days, so finished in the red.

Session Time: Mon Apr 29 00:00:00 2013
[08:56] {nemo} check email vad
01[09:01] {Threei}  I don't want to... it would be an admission that Monday is here and we have to work. And I refuse to admit that
[09:02] {nemo} oh, grow up
01[09:02] {Threei}  no, I'll live in denial
[09:02] {nemo} I sent you a picture of the newest member of the family
[09:03] {stevw} how is everyone on this beautiful Monday morning?
[09:03] {nemo} I hate this guy
[09:03] {stevw} lol
[09:03] {nemo} nothin' personal of course
01[09:04] {Threei}  good way to poke nemo, stev :)
[09:04] {stevw} what can I say - I'm a morning person and I'm quite enjoying this new chapter in my life as a trader
[09:04] {patel} Good Morning
[09:04] {cipher} gm
[09:04] {nemo} whoa, birdbrain is back
01[09:05] {Threei}  patel, cipher :)
[09:10] {Les} whatever Nemo said just ignore him, he's a crank
[09:10] {Les} morning all
01[09:10] {Threei}  Les :)
[09:11] {nemo} Les...open your email
[09:11] {nemo} everybody else, block your ears
[09:12] {dino} gm
01[09:12] {Threei}  dino :)
[09:13] {Les} heh?
[09:13] {Les} bwaahahahahahaaa
[09:13] {Les} papa all over again
[09:13] {nemo} yeah, naming it Redux
[09:13] {nemo} don't know if it's gonna live yet
[09:17] {Les} I spy with my little eye a lower high in uncle buck? Or are we just range bound...
[09:17] {Les} rhetorical question
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
01[09:21] {Threei}  LVS in red
[09:24] {Alexs} gm
[09:24] {nemo} sina dino
01[09:24] {Threei}  alex :)
[09:24] {nemo} 60.50 23.6 retrace
01[09:27] {Threei}  no clear opening play, will wait a few min
01[09:27] {Threei}  LVS on radar for short, but its volatility on the open is unbearable, gotta let it settle down
[09:30] {jdetente} gm
01[09:30] {Threei}  jd :)
[09:30] {thomcbell} gnw on long watch
[09:31] {Will49} ugly spread LVS
[09:31] {nemo} want ungly spread...sina
01[09:31] {Threei}  see above
[09:31] {nemo} want plain ugly...see Les
01[09:32] {Threei} Short Setup: GDX  30 break
01[09:32] {Threei}  If holds  .10
[09:32] {Les} I dunno. that ugly spread just made near $1
01[09:32] {Threei}  change to .15 break
01[09:32] {Threei}  If holds  .25
01[09:34] {Threei}  no secondary entry, touched too close to 1:1
[09:34] {Les} k missed .13
01[09:34] {Threei}  1:1 if you caught it
[09:35] {thomcbell} thc is retarded here
01[09:35] {Threei}  that was one mighty drop, LVS
01[09:36] {Threei}  1:2 GDX
[09:37] {Les} GDX aaargh
01[09:37] {Threei}  1:3, close it here
01[09:37] {Threei} Long Setup:  GDX  .85 break
01[09:37] {Threei}  If holds  .80
[09:40] {thomcbell} thc 45.57 break half lot
[09:41] {thomcbell} if holding 45.90
[09:42] {thomcbell} aig looking for db
[09:42] {dino} thc sm s .61
[09:42] {thomcbell} thc not a scalp for me
01[09:43] {Threei} Long Setup:  C  .91 break
01[09:43] {Threei}  If holds  .85
01[09:44] {Threei}  no go GDX
[09:44] {thomcbell} aig no go - still watching
01[09:45] {Threei} Short Setup: SLW  .75 break
01[09:45] {Threei}  If holds  .85
[09:46] {dino} cov thc .05, +.56 ty tbell
01[09:46] {Threei}  wtg
[09:47] {thomcbell} covered 1/4 thc around here at 45
01[09:47] {Threei}  no go C
01[09:47] {Threei}  longs are not in fashion
[09:48] {dino} wtg tbell
[09:48] {thomcbell} another 1/4 in here in 44.60's
01[09:49] {Threei}  trail SLW to .81
01[09:50] {Threei}  not liking market's fluctuations
01[09:50] {Threei}  patternless
01[09:50] {Threei}  often happens on Monday morning
[09:52] {nemo} 57 support sina
[09:52] {thomcbell} long setup aig 40.62 break if holding 40.52
01[09:54] {Threei} Short Setup: LVS  55 break hl
01[09:54] {Threei}  If holds  .10
[09:56] {thomcbell} thc flat
01[09:56] {Threei}  stubborn support .98
01[09:57] {Threei}  finally
01[09:57] {Threei}  1:1
[10:00] {thomcbell} aig 1:1
01[10:01] {Threei}  *(US) MAR PENDING HOME SALES M/M: 1.5% V 1.0%E; Y/Y: 5.8% V 6.1%E
01[10:02] {Threei}  1:2
01[10:02] {Threei}  what the deuce?
01[10:05] {Threei}  seriously, what the hevck just happened? no news at all for this spike
[10:05] {nemo} homes, just need an excuse
01[10:06] {Threei}  what homes, 3 minutes from numbers
01[10:06] {Threei}  such sudden spikes don't wait 3 min after news, they happen right away
[10:06] {nemo} was at 10
01[10:06] {Threei}  numbers yes, spike at 10:03
[10:06] {Les} flushed shorts holding 159
[10:06] {Les} ass top
[10:07] {thomcbell} aig 1:2 and out
[10:07] {cipher} THRX L .49
[10:07] {nemo} on algo nothing but green
[10:08] {cipher} SBNY L .03
01[10:08] {Threei}  SPY goes for 160
[10:08] {nemo} vx dropping...
[10:12] {Les} C long .00?
[10:12] {Les} nah
01[10:12] {Threei} Short Setup: TROW  .98 break
01[10:13] {Threei}  If holds  .09
01[10:13] {Threei}  .08, sorry
01[10:14] {Threei}  slow one, don't take it if not willing to wait
[10:14] {Les} C hsort .95 holding .05?
[10:14] {Les} could turn into c&h
01[10:15] {Threei}  S rather looks like long to me
01[10:15] {Threei}  C
[10:15] {Les} k
[10:16] {cipher} out THRX .82 +.33
[10:16] {dino} wyn sm l .93
[10:16] {thomcbell} short stup possible here aig
[10:16] {thomcbell} waitin g
01[10:20] {Threei} Long Setup:  GG  .45 break
01[10:21] {Threei}  If holds  .35
01[10:22] {Threei}  Invalidated
[10:22] {cipher} out SBNY .10 +.07
[10:24] {Les} JPM 49 break long?
[10:24] {Les} holdgin .95?
01[10:25] {Threei}  yes
[10:25] {thomcbell} thc was a bad cover
[10:27] {dino} ditto
01[10:32] {Threei}  not liking today's market
01[10:33] {Threei}  slim pickings
[10:33] {dino} same
[10:36] {thomcbell} kors long setup 57.21 long break half lot
01[10:37] {Threei} Long Setup:  CAT  .70 break
01[10:37] {Threei}  If holds  .60
[10:41] {thomcbell} jca looks a bit vulnerable here too
[10:41] {thomcbell} hca
01[10:42] {Threei}  Invalidated
[10:42] {jdetente} CAT triggered didn't it?
01[10:42] {Threei}  it did?
01[10:42] {Threei}  must have looked away
[10:43] {jdetente} yeah hit .73
[10:43] {nemo} iwm bull flagging
[10:43] {thomcbell} kors invalid
[10:44] {nemo} fas about to break highs
01[10:44] {Threei}  crawl up and stall market... one I hate the most
[10:45] {nemo} vodka then
01[10:45] {Threei}  did we have it too easy for too long? :)
[10:45] {Les} or tight ass day signalling change may be coming...
[10:45] {Will49} very poetic...crawl up and stall :)
[10:45] {nemo} sounds like Les' sex life
[10:45] {Les} I like crawl up and vomit
[10:46] {Will49} LOL
[10:46] {Les} not bad not bad
[10:46] {nemo} Redux is inspiring me
[10:46] {nemo} although, at the moment, all I'm seeing is the ass-end
[10:50] {dino} wyn stop -82 -.11
[10:54] {stevw} CAT interesting? symmetrical continuation triangle? c&h?
01[10:55] {Threei}  well, it's the same setup that failed last time
01[10:55] {Threei}  don't know
01[10:55] {Threei}  may work second time arond, may fail again
01[10:56] {Threei}  this is what patternless days are
[10:57] {Les} tight stop on LVS bounce at 55 might offer decent r/r
[11:02] {jdetente} sure is patternless. same failure on CAT again.
[11:03] {thomcbell} thc looks like possible 44 break short
[11:03] {thomcbell} if holding 44.10
01[11:03] {Threei}  yeah, that's why I don't want to be stubborn and try to break the wall with my forehead
[11:04] {dino} auxl sm l .15 stop lod
[11:04] {thomcbell} thc invalid
[11:05] {nemo} didn't expect to be nursemaiding a rabbit through a syringe...sheesh...gonna' ruin my reputation
[11:05] {jdetente} used to doing it all natural?
[11:05] {Les} what u feed it?
[11:06] {Les} feeding
[11:06] {Will49} nice pic of rabbit in your weekend report
[11:06] {dino} lol
[11:06] {nemo} that's bunny...Redux just showed up last night...currently Heavy Cream...nephew going for the specialty stuff after school
[11:07] {nemo} jdetente..not bad...remind me to kill you later
[11:07] {cipher} NXST L .20
[11:07] {nemo} Vad...post picture of Redux
[11:08] {dino} whats redux?
[11:08] {thomcbell} thc 2 sided obviously
[11:08] {nemo} new one's name
[11:08] {thomcbell} wow
[11:08] {dino} another bunny?
[11:08] {nemo} yeah, nephew found a baby in the middle of the street last night on the way home from his girlfriends'
[11:09] {nemo} Bunny was apoplectic..she's never been around another rabbit
[11:09] {nemo} The baby was trying to nurse off her...she was spastic
[11:09] {Will49} are they the same sex?
[11:09] {nemo} don't think so...Redux gonna' have to find a home
[11:09] {nemo} that's all I need...Night of the Lepus
[11:10] {Will49} LOL
[11:10] {dino} cyt sm l .50
[11:10] {thomcbell} looting for a double bottom somehwere near pivot in kors
[11:13] {Les} looking at MON following this EU decision to ban neonicotinoids. might be lower high forming here following the 25th
01[11:14] {Threei} Long Setup:  NFX  .10 break
[11:14] {Les} 15 min time frame
[11:15] {thomcbell} kors still on left side
[11:16] {Les} daily first high 11 April could be making lower high here
[11:23] {dino} out cyt .01, +.51
[11:24] {cipher} wtg
[11:24] {dino} ty
[11:26] {dino} auxl stuck, stop to .99
01[11:26] {Threei}  NFX stop .04
01[11:28] {Threei}  1:1
[11:29] {thomcbell} kors 56.20 break if holding 56.10
[11:29] {thomcbell} invalid
[11:29] {thomcbell} will still watch for similar setup
[11:30] {thomcbell} probably has one more flush in it
[11:31] {Les} CYT
[11:32] {cipher} NXST L .15
[11:33] {cipher} KORS L.10
[11:35] {dino} auxl stop -.17
[11:38] {cipher} KORS stopped .14 +.04
[11:39] {nemo} kors long setup here
01[11:41] {Threei} Long Setup:  GDX  .10 breal
01[11:41] {Threei}  aggressive for .20
01[11:46] {Threei}  volume is 21% below 3-month ave for NYSE, 17 for NASDAQ
01[11:46] {Threei}  that's where lack of follow-through comes from
01[11:47] {Threei}  our winning percentage goes through the roof when we have decent volume and retreats when volume dries up
[11:48] {thomcbell} thc again
[11:48] {thomcbell} looks vulnerable
[11:53] {dino} taking break
[11:54] {nemo} sina might be bottoming
[11:54] {thomcbell} kors not bad cipher
[11:55] {cipher} ACAD L.20
[11:55] {nemo} cipher got out at .14
[11:57] {cipher} yeah bailed out
[11:57] {nemo} yeah, hard to hang out in the drift
01[11:57] {Threei}  listless
01[11:57] {Threei}  breakouts don't work, reversals don't wprk
01[11:58] {Threei}  if GDX falis, aggressive doesn't work either
01[11:58] {Threei}  what else is left?
[11:58] {Will49} vodka
01[11:58] {Threei}  well, yeah... lol
[11:58] {Will49} or BC flag
01[11:59] {Threei}  meh
[11:59] {Will49} speaking of BC flag...is dp still with us?
[12:00] {nemo} back in rehab
[12:00] {Will49} :)
[12:00] {nemo} all his friends are there, he gets lonely
[12:00] {nemo} GMCR coming into bounce territory
[12:03] {cipher} SHLD L .88
01[12:05] {Threei}  here comes next SPY push
[12:06] {cipher} out ACAD .31 +.11
[12:11] {cipher} out SHLD flat
01[12:12] {Threei} Long Setup:  TNA  .15 break
01[12:12] {Threei}  If holds  .05
01[12:24] {Threei}  ok TNA, break .20 and move your frikin butt
01[12:28] {Threei}  this one is my personal present to nemo:
01[12:29] {Threei}  Alcohol doesn't help you find an answer. It helps forget the question.
01[12:37] {Threei}  sheesh
06[12:37] * Threei kicks TNA un the rear
[12:38] {Les} THC might, MIGHT be breaking its range here
[12:43] {Les} out tna flat dinner time
[12:56] {cipher} MON S .31
[12:56] {jdetente} what a day...to stay in bed.
01[12:58] {Threei}  no kidding
[12:59] {dino} indeed. most activity i had was walking dog in the rain this morning
[12:59] {Les} :) how's weather your way dino?
[13:00] {dino} 50 f and rain
01[13:00] {Threei} Short Setup: GG  .85 break
01[13:00] {Threei}  If holds  .95
[13:02] {dino} chh db?
[13:02] {cipher} NXST S .00
[13:03] {cipher} cov .62 +.38
[13:03] {dino} nice
[13:03] {cipher} TY
[13:03] {cipher} cov MON .21 +.10
01[13:03] {Threei}  CHH is a nightmare :)
[13:06] {cipher} NXST L.75
01[13:06] {Threei}  GLD spikes
01[13:06] {Threei}  makes GG a questionable short
[13:07] {nemo} nsc bounce area
[13:09] {stevw} C on a 47 break or are we too much into a midday drift?
[13:10] {backman} GG ...tighten stop?
01[13:10] {Threei}  I would still take this C break, stev
01[13:10] {Threei}  bman, yes but only when it makes new low
01[13:10] {Threei}  then tighten to .91
[13:11] {backman} tu
[13:12] {cipher} ANGI L .37
[13:16] {cipher} out NXST .06 +.31
[13:16] {cipher} ANGI stopped .40 +.03
01[13:19] {Threei}  if GG doesn't work, I'll my keyboard
01[13:19] {Threei}  I'll eat my keyboard
[13:20] {Les} got a vid cam setup on yer pc?
01[13:20] {Threei}  no
01[13:20] {Threei}  I am a luddite
[13:20] {Les} :(
[13:22] {jdetente} please beat GG over the head
[13:22] {jdetente} (Les too)
[13:22] {jdetente} hehe
06[13:22] * Threei hits GG over the head with 2x4
01[13:23] {Threei}  hey, violence works
01[13:23] {Threei}  believe it or not, 1:1
[13:23] {jdetente} ahh perfect timing
[13:23] {Les} thank god for gold miners
[13:24] {Les} nice jd. Nemo wannabe I label you
[13:25] {nemo} ?
[13:25] {nemo} o.k. if NSC gonna' bounce should be here
[13:26] {nemo} well, maybe .40
01[13:26] {Threei}  not that it omptoves the day much but still: over this weekend I have recieved over 1200 likes on one my photos. First time ever seeing such numbers
[13:26] {Les} whichn one
01[13:27] {Threei}  http://goo.gl/8EO4Q
[13:28] {Les} guessing its yer canuck eastern neighbours wishing they were somewhere else :)
01[13:29] {Threei}  nope, that was worldwide
[13:29] {Les} cool
01[13:29] {Threei}  come on C
01[13:29] {Threei}  break and run
01[13:30] {Threei}  ummm... break and enter?
[13:30] {jdetente} and then GG can continue to break down
[13:33] {cipher} ITRI L .18
[13:34] {nemo} gmcr at morning breakout level
[13:35] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
01[13:35] {Threei}  continuing with threats that seem to be working: if C doesn't work, I'll cut my wrist with banana
[13:36] {nemo} I'm going to check on Redux
[13:38] {cipher} ITRI stopped .15 -.03
[13:43] {Les} SPY smiley face chart pattern
01[13:45] {Threei}  I know only one smiley face chart pattern: one that works
[13:45] {Les} not bad
[13:45] {Les} maybe a handle to add to that cup
01[13:45] {Threei}  today most are "shrugging shoulders in irritated resignation" chart pattern
[13:46] {jdetente} or full moon patterns...that's what the stocks are showing us at least
[13:46] {Les} oughta make that one official
01[13:48] {Threei}  hey, C is no moon
[13:48] {jdetente} I didn't say all stocks
[13:48] {jdetente} just the ones that don't work haha
01[13:48] {Threei}  C is your friendly wholesome banker, with morals, ethics and caring attitude
01[13:49] {Threei}  now wait for me while I stop laughing uncontrollably
[13:49] {Les} pathological is the term used in public recently I think
01[13:49] {Threei}  that's wrong word
01[13:49] {Threei}  "pathological nature of Wall Street" is oxymoron
[13:50] {Les} heh you're right
01[13:50] {Threei}  if it's a nature it can't be pathologica
[13:52] {Les} no, but pathologization can be used to define behaviour and is synonymous with disease... quoting wiki
[13:55] {dino} rit
01[13:55] {Threei}  well, either wall street's nature is patholofical from the point of view of an outsider, or its nature is normal and it deviated from its nature... which one is it?
[13:55] {stevw} TNA seems to want to have another go at it
01[13:56] {Threei}  yeah, SPY prepares breakout, so TNA follows
[13:57] {jdetente} C stuck in the mud
[13:57] {jdetente} giving us the half moon
[13:58] {stevw} 47 was firm resistance, maybe it'll be good support now
[14:02] {stevw} or not
06[14:03] * Threei is reaching for banana
01[14:09] {Threei}  keeping stop at .94
[14:15] {dino} rit sm l .34
[14:16] {jdetente} full moon
01[14:16] {Threei}  well, it's a half-sized stop
01[14:16] {Threei}  so I am not sure how to qualify it
[14:17] {nemo} these are index short setups, but I don't trust them
01[14:22] {Threei} Short Setup: GLD  .95 break
01[14:23] {Threei}  If holds  .05
01[14:25] {Threei}  Invalidated
01[14:31] {Threei} Short Setup: GLD  .10 break
01[14:37] {Threei}  1:1
[14:50] {thomcbell} kors small long here 55.99 stop
[14:53] {dino} lote crazy
[14:55] {thomcbell} how did u come across that one
[14:55] {nemo} don't tell him about the chickens
[14:55] {dino} kicking across my 07 scanner
[14:56] {dino} the street.com says its a fraud
[14:56] {dino} can't borrow
[15:01] {Les} strange stock, t&s and level 2 LOTE
01[15:02] {Threei}  my newsfeed doesn't even show it as a real stock, lol
01[15:04] {Threei}  can this really happen that we'd got more than a scalp on GLD?
01[15:04] {Threei}  it better. 'cause I am still working on the banana cutting the wrist
[15:08] {cipher} UNXL L .14
[15:11] {cipher} out .49 +.35
[15:11] {Les} miners returning to morning lows
[15:17] {dino} aegr
[15:17] {Les} small bounce may produce downsloaping h&s on DE. may just drop lower
[15:20] {dino} aegr sm s .72
[15:20] {nemo} where's vwap Les?
[15:20] {Les} why?
[15:21] {Les} PVH might interst you dino
01[15:22] {Threei}  nope, no miracles - merely a scalp GLD
[15:22] {Les} better call your fruit merchant for spare bananas
[15:23] {Les} there, downsloping h&s on DE. let's see what this does
[15:23] {Les} PVH short .40 holding .50?
01[15:24] {Threei}  hl
01[15:24] {Threei}  volatile one
[15:26] {dino} cov aegr .26, +.46
[15:28] {dino} out rit .20, -.14
[15:29] {dino} aegr again spike
[15:35] {Les} banksters obviously haven't been clued into this rally
[15:36] {Les} not a word nemo
[15:36] {nemo} o.k. Les, I'll give you a mulligan
01[15:36] {Threei}  probably worth a try, C short
01[15:37] {Threei} Short Setup: C  .75 break
[15:38] {dino} vc drop
[15:42] {dino} aegr something else
[15:45] {Les} DE pays well from its breakdown at .25
01[15:47] {Threei}  time's running out
[15:47] {Les} PVH 1:1
01[15:48] {Threei}  yup
01[15:48] {Threei}  well, that wasn't our day overall
[15:48] {Les} DE 1:3, PVH 1:2 really gotta wait for the final hour on such a day
[15:49] {Les} knowing when to stop is what trips me up
[15:49] {dino} gj les
[15:51] {Les} too much damage done prior dino, something to work on
[15:51] {cipher} AEGR L .60
[15:51] {cipher} out .79
[15:51] {dino} bummer. i was 3 of 6, but my wins were 2x-3x my stops, so overall ok
01[15:52] {Threei}  that's how our Friday went
[15:52] {Les} c u's for turnaround tuesday
[15:52] {Will49} cheers guys....see you tomorrow
01[15:52] {Threei}  today, just too low percentage of wins
01[15:52] {Threei}  aka clusterf*&k
[15:52] {dino} lol
[15:53] {dino} damn cipher, i was going to short aegr again, but saw him go long
[15:53] {dino} don't like to go againnst his setups
[15:54] {dino} calling it a day, thanks all
[15:54] {cipher} VPRT L.29
01[15:56] {Threei}  thank you all, have a good evening
01[15:56] {Threei}  qwe will get them tomorrow
[15:57] {cipher} stopped .32 +.03
[15:58] {jdetente} gn all

Friday, April 26, 2013

Nemo's Findings week of 4/28/2013

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html

Another fun week in the markets...well, if you consider flossing with barbed wire fun...



Bunny says...The week that was:

  

In the top left panel we again have the vxx.   Notice how, if anything, the sense of fear in the market dropped.  Yeah, a little insurance was bought on Friday, but nothing to tweet home about.

The FAS actually made new highs for the year yesterday before that little news story about the German courts, so I ran a fib retrace from the most recent swing low to yesterday's swing high and did so for IWM and SPY also.  As you can see, the indexes retraced basically to the 23.6% levels, with the IWM finishing at the Monthly Pivot and vwap, the SPY basicaly on vwap and the finnies, a hair below  (I hear the echo, "close enough for government work.") 


In general, we finished above the weekly pivots in the indexes.  No news was really sold.  I'm not so sure I'd read much into the drop in AMZN after bad earnings.  The Feds are about to remove the on-line tax holiday, so that's one competitive advantage going the way of the dinosaur.  Looking over the indexes the only things that look iffy are the transports.  Also, basic materials have basically been in a box since January.  


Btw...those blue...ahem....turquoise....boxes  are gaps.  As we can see, IWM stopped at a gap, and there is a gap below from the 23rd.  If we do have weakness, look for those gaps to fill.  One could argue the tail down on SPY filled the gap earlier in the week, but that was the AP hacked tweet about Obamabomb, so, I'm giving it a mulligan.

My thought process for the next week.  Btw...if you read the following and agree, seek immediate psychiatric attention...

Anyway, as a prologue, I was saying Friday how I thought they were shooting for a doji on the day.  Lo and behold, what did we get on the indexes....a doji.   Why?  Well, if we look at the slightly larger picture, today was the last day for trades to clear into the end of the month.  So, if there is to be weakness, the need for window dressing was going to keep price pretty tight.  Now, I realize correlation is not causation, but that's the way it worked out today.  For next week, well, for the mutual fund managers to get the high numbers for money coming in on the first, they need to keep the indexes up.  So, and I realize this is not really going out on a limb but, the greater probability is higher next week.  If we do start to get a good pullback, and there has been no exogenous news as the cause, then the big money is not giving the mutual fund managers their gift.  That could be significant. Think about it...If you are screwing your first cousins (not in the biblical sense, mind you), then you must think the fecal matter is about to hit the ventilator.  After me, you come first.

Once the money is in for the month, we're also on the downside of the earnings reporting season and moving into May.  So, we have the SIMAGA setup coming.  How much of a downside effect, if at all, that will have on the market.  Well, you have a greater likelihood of staying married to the same person for life than I would for predicting market direction.  

Anyway, the week that is: