May 28 2013

As it's often the case with big gap up days, this one wasn't our trading environment. Despite couple good 1:3 shorts on GDX, finished in the red ad too many of setups got little follow-through.


Session Time: Tue May 28 00:00:01 2013
[08:49] {nemo} Vad...Dino...go back to bed...
[09:00] {Les} WAKE UP YOU SHEILAS!!!!!!!!
[09:01] {backman} brap!!!
01[09:01] {&Threei}  sigh
[09:01] {backman} gm
03[09:01] * Retrieving #discussions modes...
[09:01] {Les} another wet and miserable good afternoon to all
01[09:01] {&Threei}  ok... morning guys
[09:01] {Les} face it vad and get it over with
[09:02] {Les} silver futures shaping up as small head and shoulders
[09:02] {Les} gold, inverted cup and handle
[09:02] {backman} when GDX goes to 0, will we still be able to short it?
01[09:03] {&Threei}  intio oblivion
01[09:03] {&Threei}  intio darkness
[09:04] {backman} back to the tunnels and chunnels from whence spawned
[09:04] {Les} well I guess it'd prove somewhat cheaper to load up for the longs at that price bman :)
[09:04] {nemo} GO BACK TO THE SHADOW!!!
[09:05] {Les} what u on about bunny boy?
[09:05] {dptl} gm
[09:05] {cipher} gm
[09:05] {Les} yer best gandalf impression?
01[09:06] {&Threei}  dp, cipher :)
[09:06] {nemo} Backman triggered the memory
[09:06] {Les} tis a great moment of film history
[09:07] {dino} gm
01[09:08] {&Threei}  dino :)
[09:09] {Les} http://blogs.wsj.com/moneybeat/2013/05/28/can-dollar-love-last/
[09:09] {Les} everyone loves uncle buck now
[09:11] {stevw} g'mornin
01[09:11] {&Threei}  stev :)
[09:13] {Les} interesting to see analysts calling for sony to leave electronics market. Still like playing games meself, but realised these overpriced standalone boxes MSFT, SNE are selling are dead as market products. Told the kids to stop bugging for new ones.
01[09:13] {&Threei}  what would sony do then?
[09:14] {Les} they're most profitable venture is selling insurance in japan
[09:14] {Les} their
[09:14] {Les} go figure
[09:14] {Les} their films make money, so does selling music, but not electronics
[09:15] {Les} the world is changing again
[09:15] {nemo} yeah, you're one day closer to death
[09:15] {Les} seems like yesterday the yellow sony cassette walkman came out
[09:15] {Les} yeh, which makes such discussions as sony's profitability moot
[09:17] {ese} morning
[09:18] {_fish_49} gm all
[09:18] {Alexs} gm
01[09:18] {&Threei}  ese, fish, alex :)
[09:19] {RonS} hi y'all...
[09:19] {Will49} gm
01[09:19] {&Threei}  ron, will :)
[09:20] {RonS} the horror...Moody's sees Caribbean defaults in debt worse than Cyprus
[09:23] {jdetente} gm
01[09:23] {&Threei}  jd :)
[09:27] {stevw} ok, are you guys rested and ready for this gap-up open?
[09:28] {Will49} aye aye sir!
[09:28] {stevw} rock and roll
[09:28] {nemo} go back to sleep
06[09:28] * Les offers stevw a valium
[09:28] {stevw} that was yesterday on the tsx
[09:29] {nemo} this kind of gap up is usually boring trade
[09:29] {nemo} europe up last two days, and just went higher
[09:29] {Will49} oh no...run away, run away
[09:29] {nemo} we're already at R3 for the day on SPY
01[09:31] {&Threei} Long Setup:  AIG  .60 break
01[09:32] {&Threei}  If holds  .50
01[09:32] {&Threei}  Invalidated
01[09:32] {&Threei} Long Setup:  GDX  .35 break
01[09:32] {&Threei}  If holds  .30
[09:34] {dino} out gps leftovers .98, +.47
01[09:34] {&Threei}  meh
[09:36] {thomcbell} looking for splk long setup here
01[09:37] {&Threei} Long Setup:  C  .55 break
01[09:37] {&Threei}  If holds  .45
01[09:41] {&Threei}  1 cent to 1:1?
01[09:41] {&Threei}  sigh
01[09:43] {&Threei} Long Setup:  GDX  .35 break
01[09:43] {&Threei}  If holds  .25
01[09:45] {&Threei}  hate these gap and stall days
[09:47] {thomcbell} splk
[09:48] {thomcbell} darn
[09:48] {Les} iwm wants 100 again
[09:49] {Les} tza 30 recross
[09:49] {Les} if holding .95
[09:51] {dino} not finding anything
[09:51] {nemo} trading tza, not sure if ballsy or just stupid right now
[09:51] {dino} i like it
[09:51] {Les} want 2 3 min candles holoding within .05
[09:51] {nemo} if the housing report is good...?
[09:55] {backman} C apporaching morning low
01[09:55] {&Threei}  well GDX
01[09:55] {&Threei}  you might still be good for something
01[09:55] {&Threei}  1:1
[09:56] {RonS} took gdx .30 aggressive w/ 5 cent stop out .46 +.16 thanks 3i...
01[09:56] {&Threei}  :)
[09:56] {Les} taking too long. market waiting for yer news nemo
[09:57] {Les} quick shot on the news takes it too 100 stops
[09:58] {nemo} got to squeeze any shorts that thought this was the top
[09:58] {Les} yeh
[09:59] {nemo} short setup here before the report
[09:59] {nemo} good report
01[09:59] {&Threei}  *(US) MAY CONSUMER CONFIDENCE: 76.2 V 71.0E
01[10:00] {&Threei}  *(US) MAY RICHMOND FED MANUFACTURING INDEX: -2 V -4E
[10:02] {Les} next reversal potential .75 tna around 100 for iwm
[10:02] {Les} tza
[10:03] {dino} tza sm l .90
[10:07] {Les} lets see the dt
[10:09] {dino} gtls spike
[10:10] {Les} l .82 holding .75
[10:10] {Les} tza
[10:10] {nemo} here's our short setups
[10:12] {Les} half out .89
[10:12] {Les} dunno if we've hit index top yet
[10:13] {Les} not taking a loss here
[10:13] {nemo} strong day, scalp shorts, weak day, scalp longs
[10:13] {Alexs} interesting that moneyflow is still negative at these levels, people more selling
[10:13] {Les} yeh hardest thing Nemo is switching mindset
[10:13] {Les} need you to kick me sometimes
[10:14] {Les} to switch over
[10:15] {Les} got the SOP's written out for trial and error, but mindframe doesn't obey SOP's.... yet
[10:15] {nemo} TIF interesting if market comes in
[10:15] {Les} 2h stop flat
[10:15] {nemo} think IWM led to 100, now spy leads to 168
[10:16] {cipher} lbtya l .21
[10:16] {Les} 3 min macd price divergence. if it don't drop here its a squeeze
[10:17] {cipher} out lbtya .26 +.05
[10:20] {cipher} dino dcc
[10:22] {Les} potential TZA entry here but indexes seem cosy with up
[10:23] {dino} tza stop .73 -.17
[10:23] {Les} vol. price spike TNA into 52
[10:23] {nemo} nothing now until spy gets to 168
01[10:23] {&Threei} Long Setup:  JPM  .55 break
01[10:24] {&Threei}  If holds  .45
[10:24] {dino} ok cipher
[10:25] {cipher} AGNC L .21
[10:26] {dino} amwd spike
[10:28] {cipher} amwd l .12
01[10:31] {&Threei} Short Setup: SLW  .45 break
01[10:32] {&Threei}  If holds  .55
[10:32] {cipher} agnc stopped .23 +.02
[10:33] {~KSystems} holla
01[10:33] {&Threei}  hey KS
01[10:35] {&Threei} Long Setup:  FCX  .75 break
01[10:35] {&Threei}  If holds  .70
[10:39] {Les} stealth top what a rip off. lets see if it makes another go
[10:40] {dino} bdl drop
[10:41] {cipher} BDL  L.48
01[10:43] {&Threei}  FCX, dirty rotten scoundrel
01[10:44] {&Threei}  you too SLW
01[10:44] {&Threei}  invalidations all around
[10:45] {dino} tza sm l .90
[10:45] {nemo} Hah, I was thinking indexes long here
[10:46] {dino} :)
01[10:46] {&Threei}  I dpon't know how you even decide between long and short here :)
[10:46] {RonS} my feeling too...
[10:46] {nemo} system vad
[10:48] {dino} nemo right, i'm wrong
[10:49] {nemo} My reasoning, hammer, both SPY and FAS came into VWAP.  IWM made a doji where spy AND fas made hammers
[10:49] {nemo} having said thtat, looks like we probably flatten out here for a while
[10:50] {dino} i am letting it ride, w/stop at .65
[10:50] {nemo} look at Europe Dino
[10:50] {RonS} but did it hit a Fibonacci and/or a gann fan line in the midst of an embeeded stochastic?
[10:51] {RonS} embedded
[10:51] {dino} you lost me ron
[10:51] {nemo} he's busting balls
[10:52] {dino} lol
[10:52] {RonS} sorry, must be getting bored...
[10:52] {dino} np, bored here too
[10:52] {nemo} go change your Depends
01[10:52] {&Threei}  but Ron... what about Ichimoku cloud enveloped by Chaikin indicator?
[10:52] {_fish_49} lol
[10:52] {dino} stra drop
[10:52] {_fish_49} sorry for the LOL ron  but Nemo made me do it
01[10:52] {&Threei}  nemo makes people do strange things...
[10:52] {nemo} every man responsible for his OWN actions
[10:53] {nemo} Fear is a wonderful motivator
[10:53] {dino} gj bdl cipher, i was waiting at .00
[10:54] {_fish_49} how many shares could u buy or sell in one lot
[10:54] {_fish_49} I seen an 11 cent spread
[10:54] {nemo} of what?
[10:54] {_fish_49} BDL
[10:54] {dino} infinite
[10:54] {_fish_49} was watching it for fun
[10:54] {nemo} how many shares it trade daily?
[10:55] {nemo} oh jeez
[10:55] {dino} ;)
[10:56] {dino} 07 goes red
[10:58] {cipher} STRA S .92
[10:59] {RonS} lol...does anyone listen to these guys any more?...BREAKING: U.S. banking system outlook upgraded from negative to stable by Moody's
[10:59] {Will49} stable now that they have everbody's money
[11:00] {cipher} NCLH L .50
01[11:00] {&Threei}  stop buying bonds, and then we will see how stable this whole thing actually is
[11:02] {cipher} cov STRA .65 +.27
[11:03] {backman} GLD going nutz
01[11:04] {&Threei}  GDX interestingly doesn't
[11:05] {cipher} NCLH stopped .55 +.05
01[11:06] {&Threei} Long Setup:  CAT  .20 break
01[11:06] {&Threei}  If holds  .10
[11:07] {Les} 3 min head and shoulders iwm works. gj dino
[11:07] {dino} thx
[11:10] {Buster} Any read on C?
[11:10] {RonS} infi volume spike
01[11:11] {&Threei}  .60 break long C... if SPY helps
[11:12] {dino} pko drop
[11:12] {dino} tza to .05
[11:12] {cipher} PKO L .24
[11:13] {cipher} TNA L .45
[11:13] {dino} out tza +.15
[11:13] {Les} yeh, holding .35
[11:14] {cipher} out TNA .52 +.07
[11:15] {Les} 1st partial .55
01[11:15] {&Threei}  C works
01[11:15] {&Threei} Long Setup:  LVS  .35 break
01[11:16] {&Threei}  If holds  .25
[11:16] {Les} 2nd partial .60
[11:17] {cipher} PKO stopped .29 +.05
01[11:19] {&Threei}  let's change LVS to .30 break
01[11:20] {&Threei}  If holds  .20
01[11:21] {&Threei}  if this is a SPY pullback before breaking .30, we will be in just in time
01[11:21] {&Threei}  if not, this one will invalidate
[11:26] {cipher} ORLY L .49
[11:26] {dino} pko sm l ave .35
01[11:27] {&Threei} Short Setup: GLD  .10 break hl
01[11:27] {&Threei}  change to .15
01[11:27] {&Threei}  If holds  .25
[11:28] {cipher} AEGR L .66
01[11:28] {&Threei}  Invalidated
[11:29] {Les} all out tna .69
[11:32] {Les} CAT stopped
[11:32] {Will49} well.......
01[11:33] {&Threei} Short Setup: GDX  .80 break
01[11:33] {&Threei}  If holds  .90
01[11:34] {&Threei}  Invalidated
[11:35] {cipher} AGNC L .48
01[11:37] {&Threei}  let's scratch LVS
01[11:37] {&Threei}  SPY doesn't look right
[11:37] {Les} short gld .47
[11:37] {Les} half out .36
01[11:37] {&Threei}  this bounce is for exit
[11:37] {_fish_49} out flat
[11:38] {Les} full cover gld .21
01[11:39] {&Threei} Short Setup: GDX  .95 break
01[11:39] {&Threei}  If holds  .05
[11:40] {Les} price macd bullish divergence in daily for GLD GDX SLW. Bulls sniff a long setup
[11:41] {cipher} AGNC stopped .40 -.08
01[11:42] {&Threei}  die GDX
[11:42] {dino} agnc sm l.39
01[11:42] {&Threei}  this is as topping chart as they get
[11:42] {Les} yeh I'm in
01[11:42] {&Threei}  1:3 target
[11:42] {Les} k
[11:42] {Les} sitting there waiting for DT in GLD and KABOOOOOM
[11:43] {Les} dino and quarter theory love it
01[11:43] {&Threei}  kangaroo tail, head and shoulder, two in one
[11:43] {dino} lol
01[11:43] {&Threei}  1:1
01[11:43] {&Threei}  now don't you dare rinse the balance
01[11:44] {&Threei}  IMF Board reaffirms its confidence in IMF President Lagarde, makes no further statement - financial press***Note that Lagarde narrowly avoided an investigation of her role in a domestic French political funding scandal dating from her time as French finance minister.
[11:45] {Les} lol
[11:45] {Les} snow white is dirty as the rest eh
01[11:45] {&Threei}  good scratch on LVS
[11:46] {Les} market dumping on the late comers. curious to see finish
[11:47] {Les} taking more off GDX at 1:1
[11:47] {Les} will be happy for 1:2
[11:49] {cipher} out AEGR .72 +.06
01[11:52] {&Threei}  1:2
[11:52] {_fish_49} out in full
[11:52] {_fish_49} thanks vad
01[11:52] {&Threei}  yw
[11:52] {_fish_49} I shall return
[11:52] {Les} cover .72 ty sir
01[11:52] {&Threei}  :)
[11:54] {Les} 3 min chart looks like cup and handle tza to me
[11:55] {Les} which has failed 1st time round wonderinga bout 2nd chance
[11:56] {dino} phk drop
[11:56] {dino} pko stop .24 -.11
[11:56] {Les} frik yeh, but without me
[11:57] {dino} nice tza les
[11:57] {Les} those visual thingies i supposed to be learning do work sometimes...
[11:58] {cipher} PHK L .10
01[11:59] {&Threei}  much better than "MACD price daily divergence sprinkled all over Ichimoky cloud moved by fan lines" bs
[12:02] {Alexs} nice GDX Vad
01[12:03] {&Threei}  1:3
[12:03] {dino} out agnc .54, +.15
01[12:03] {&Threei}  a bit like teeth pulling... but heck, that's whnat these huge gap up days are
[12:04] {dino} exactly
[12:04] {dino} taking a little lunch break
01[12:04] {&Threei}  before we find next teeth pulling trade, relax a tad: http://photography.realitytrader.com/2013/05/spring-unleashed-ii.html
[12:06] {RonS} stupid q of the day:  isn't Ichimokey  the head of a leper colony?
01[12:07] {&Threei}  http://www.investopedia.com/terms/i/ichimoku-cloud.asp :)
01[12:09] {&Threei}  1:3 level became double bottom
[12:19] {nemo} Necessity is the mother of cannibalism.
01[12:20] {&Threei}  hmmm
01[12:20] {&Threei}  lol
[12:20] {RonS} lol
01[12:20] {&Threei}  I guess
[12:20] {nemo} this guy is hilarious on twitter @TheTweetOfGod
01[12:20] {&Threei}  this reminds me... there is an article making eounds among photographers which, among other things, includes a phrase:
01[12:21] {&Threei}  find what you love and let it kill you
01[12:21] {&Threei}  I thought it described my relationship with bacon perfectly
[12:21] {nemo} marriage
[12:22] {nemo} TIF might be short here
[12:22] {dino} stra lod
[12:22] {nemo} crm
[12:23] {nemo} anf looks short
[12:27] {cipher} LBTYA L .77
01[12:34] {&Threei} Long Setup:  TZA  .25 break
01[12:34] {&Threei}  If holds  .15
01[12:38] {&Threei}  Europe and China Trade Talks End Bitterly
01[12:38] {&Threei}  lol
01[12:38] {&Threei}  who moved my bacon, asked China
01[12:39] {&Threei}  Trade negotiations between the European Union and China ended on Monday with mutual recriminations. China called on the European Union to refrain from imposing tariffs on solar panels, and the European trade commissioner complained that China was pressuring individual countries to prevent Europe from reaching a consensus.
01[12:40] {&Threei}  no go
[12:40] {cipher} STRA L ,73
[12:40] {cipher} PETM L .89
[12:42] {cipher} out PETM .94
[12:48] {cipher} YRCW L .00
01[12:49] {&Threei} Short Setup: GDX  .60 break
[12:51] {cipher} agnc l .20
01[12:52] {&Threei}  If holds  .65
[12:54] {cipher} out agnc .30 +.10
[12:59] {dino} vips
[13:01] {cipher} qcor l .53
[13:09] {backman} GDX making me sleepy
01[13:10] {&Threei}  can't blame you
01[13:10] {&Threei}  but hey
01[13:10] {&Threei}  here comes wake-up call
01[13:10] {&Threei}  1:1
[13:11] {backman} took 1:1...lunch time
[13:11] {backman} ty
01[13:12] {&Threei}  yw
01[13:12] {&Threei}  I will try to squeeze every drop of blood out of this stone
[13:14] {nemo} fas lookin short below .20
[13:14] {Les} iwm looks like it might drop. if tza gets some energy .30 break look
[13:14] {Les} there it goes
01[13:16] {&Threei}  it seems that shorting GDX is my fur boots song, and I am destined to listen to it forever
01[13:16] {&Threei}  seriously then, when GDX hits zero, what to do, what to do...
[13:17] {_fish_49} go long
[13:17] {nemo} play options...
[13:17] {jdetente} GDX has been the great equalizer on these kinds of days
01[13:18] {&Threei}  the idea of going long GDX takes a while to get used to, fish :)
[13:18] {_fish_49} then must sit on hands if hits 0
01[13:19] {&Threei}  1:2
[13:19] {Les} tza 15 min cup and handle
[13:19] {Les} lets see spy drop the range
[13:19] {Les} IF
01[13:19] {&Threei}  look what swims in Victoria waters: http://goo.gl/IWNbG
[13:21] {Les} long tza .32 hodling .20
[13:21] {Les} beautiful signals today
01[13:22] {&Threei}  purely visual, I must add
[13:22] {cipher} ATHN L .46
[13:23] {Will49} saw that sub yesterday on my walk
01[13:23] {&Threei}  :)
[13:25] {Les} half out .39
[13:26] {Les} yeh right vad
[13:27] {Les} gotta stop here. missus 50 b'day. on the booze. a demain
[13:27] {Les} a+
[13:30] {stevw} goddamn internet connection failures --- argggggh!
[13:31] {stevw} i'm friggin' lucky that GDX short behaved while I was offline
01[13:31] {&Threei}  yikes
[13:31] {nemo} wish Les would have internet problems
[13:31] {cipher} out YRCW .29 +.29
[13:31] {RonS} lol
[13:32] {RonS} brutal
[13:32] {nemo} ?
[13:32] {stevw} yeah, i think i'm stuck with swing trades till they come out tomorrow
[13:35] {cipher} lbtya l .43
[13:35] {cipher} lbtyk l .92
[13:38] {dino} alk sm l .73
[13:42] {dino} alk stop .48 -.25
[13:44] {cipher} lbtya stopped -.03
[13:44] {cipher} lbtyk stopped -.05
[13:46] {dino} alk sm l .60
[13:48] {backman} wouldn't be surprised to see a red close.....
[13:49] {_fish_49} hope not
[13:52] {jdetente} why not? that would be great...
[13:53] {dino} athn sm l .20
[13:53] {_fish_49} not for me
01[14:00] {&Threei}  you've got some long swing trades going?
[14:00] {_fish_49} no
[14:01] {_fish_49} Are you familiar with Thrift Savings Plan?
01[14:01] {&Threei}  no
[14:02] {_fish_49} it's the 401K plan for government employees
[14:03] {dino} lstr drop
[14:04] {_fish_49} tsp.gov
[14:04] {dino} in .43
[14:04] {_fish_49} we missed two good set ups on FB  today
[14:05] {_fish_49} I normally watch FB but didn't  have it on my screen today
01[14:05] {&Threei}  1:3, out
[14:06] {dino} out lstr .87, +.44
[14:07] {jdetente} covered .24
[14:07] {jdetente} thanks Vad
01[14:07] {&Threei}  ywyw
01[14:07] {&Threei}  ummm
01[14:07] {&Threei}  just one yw
[14:07] {_fish_49} was that GDX?
01[14:08] {&Threei}  yes
[14:08] {_fish_49} tomorrow I skip lunch break
[14:08] {_fish_49} lol
01[14:08] {&Threei}  2 1:3ers on a day like today, nothning to sneeze at
[14:08] {dino} oaks drop
[14:09] {jdetente} GDX really covered us for the stop outs
[14:12] {dino} lstr drop
[14:14] {RonS} hearing lstr guided q2 lower...
[14:14] {dino} ty
[14:18] {dino} lre sm l .90
[14:19] {Alexs} gdx asking for next short
01[14:26] {&Threei}  I am hesitant here
01[14:27] {&Threei}  chart shapes up, but feels like high chance of being a trap
01[14:42] {&Threei}  (US) Hazmat crew on the scene of train derailment in Baltimore that occurred around 14:00ET; no injuries reported- Reports that it is a CSX train, very loud explosions heard in Baltimore
[14:42] {_fish_49} yea watching that
[14:43] {_fish_49} Baltimore in the news  today
[14:43] {_fish_49} the cruise line flying passengers home today after the ship fire
[14:43] {backman} GLD getting ready to blow up or melt down
01[14:48] {&Threei}  no indication which way thus far
[14:50] {RonS} took LRE .80 to .05 +.25 thanks dino
[14:51] {dino} np
[14:56] {_fish_49} Vad r u watching CSX?
01[14:57] {&Threei}  no... why?
[14:58] {_fish_49} no specific reason was just hoping a set up would develop with that volume
01[15:01] {&Threei}  trying to get a feel of last hour direction
[15:02] {nemo} 68.50is is the weekly pivot on FAS
01[15:02] {&Threei}  Wal-Mart Stores Inc. pleads guilty to charges of dumping hazardous waste in California
01[15:02] {&Threei}  they dumped the goods from their shelves??
[15:02] {RonS} forced their customers to leave the store?
[15:02] {nemo} .60 cents below on SPY, and IWM
01[15:03] {&Threei}  lol
[15:03] {nemo} We have a chain of salvage stores called Building 19 in this area
[15:03] {nemo} Always made me skeevy to go in there
[15:03] {nemo} I get the same feeling in Walmarts
[15:04] {nemo} It's like you step back to some pre-evolutionary phase in human history
01[15:04] {&Threei}  I have a feeling our Walmarts are more respectable than yours
[15:04] {dino} stores are great, but some of the people you have to wonder where they came from
01[15:04] {&Threei}  never saw anything of a kind I see in many internet photos aboput "walmart nation"
[15:05] {dino} out lre .05, +.15
[15:05] {stevw} in bc the whales are in the water
[15:05] {Les} what r we in?
01[15:05] {&Threei}  deep thoughts
[15:05] {Les} here, we are in some classic guitar for the drive home hour
01[15:05] {&Threei} Short Setup: SLW  .50 break
[15:05] {stevw} in the u.s., the whales are in the walmarts
[15:05] {Les} http://www.youtube.com/watch?v=F4fPv450OYM
[15:05] {dino} lol
01[15:06] {&Threei}  If holds  .60
[15:07] {Les} OMG monster move off of .30 for TZA
[15:09] {jdetente} Here's the real Walmart nation...
[15:09] {jdetente} https://www.youtube.com/watch?v=ghrDIQ-K8mg
[15:09] {jdetente} Do not watch if you have a weak stomach lol
01[15:10] {&Threei}  I'll skip, thank you for warning
[15:10] {Les} that is pretty repulsive jd
01[15:10] {&Threei}  trigger already SLW
01[15:10] {&Threei}  trigger and die
[15:11] {jdetente} Les...this is why I do not go to Walmart...
[15:11] {Les} slw 15 min inverted c&h
[15:12] {Les} plus littley in 1 min time frame
01[15:12] {&Threei}  A+ Les
01[15:12] {&Threei}  perfect visual recognition
[15:13] {Les} look ma, no hands/indicators!
[15:14] {Les} lol someone sucker punched the GLD longs today
[15:18] {Les} banks seem pretty keen here. JPM just shy of .50 break
[15:18] {Les} never mind
[15:20] {Les} tza potential DB i like it
[15:21] {Les} 3 min time frame
[15:25] {jdetente} bah humbug
[15:26] {Les} long tza
[15:28] {Alexs} visual rcognition doesn't work today
01[15:30] {&Threei}  I'd say works randomly
[15:32] {Les} tza stopped
[15:33] {_fish_49} TZA trades opposite the DOW?
[15:33] {Les} iwm
[15:34] {_fish_49} ty
01[15:34] {&Threei}  IWM is closer match, but overall, yes
[15:34] {Les} yeh right, anti-index
[15:36] {Alexs} closer match is TNA I think
[15:38] {Les} that's yer long side of index
[15:42] {+cc_9} http://img22.imageshack.us/img22/7133/ssoentry.jpg
[15:43] {+cc_9} Scale paying off EOD
[15:43] {RonS} quote from a snake or lizard?
[15:44] {Les} yeh saw the iwm db at .50 too late
[15:45] {RonS} apa spike
[15:45] {+cc_9} I laid off the russell, strictly S&P moving forward. The disparity can be tough on days r2k is lagging
[15:46] {nemo} fas and spy move together
[15:46] {_fish_49} thanks Nemo
[15:46] {nemo} what I do
[15:47] {_fish_49} for the edumacation
[15:47] {nemo} ahhh
[15:47] {RonS} unxl bleed...
[15:48] {RonS} gash now...
[15:48] {dino} unxl drop
[15:48] {+cc_9} nemo, yes, they move in tandem, but you will have days where one is holding up better while the other keeps cranking new lows, since I track mostly the SPY and /es, it makes more sense to stick to SSO/SDS for me
[15:48] {+cc_9} But yes, over-all you are correct, they move in tandem for the most part.
[15:48] {nemo} Yeah, I watch IWM SPY and FAS all day
[15:50] {+cc_9} Yup, for today IWM is outperforming the SPY
[15:51] {Les} cause he has no life
[15:52] {_fish_49} good night all
[15:52] {_fish_49} thanks for the info
[15:53] {Will49} nothing here to see...move along
[15:54] {Will49} gn guys, see you tomorrow
01[15:54] {&Threei}  ok guys, take care, see you tomorrow
[15:54] {jdetente} yup...thanks for the trade ideas Vad. Have a good night guys.
[15:54] {Les} ciao
[15:54] {Alexs} good night
[15:54] {dino} gn all
[15:56] {+cc_9} Later everyone
[15:57] {+cc_9} time for CC_iesta

Nemo's Findings week of 05/26/2013

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

Mmmmmhhhh....that was interesting this week.  The market is obviously ripe for a correction.   Good news has been bought, average news has been bought, bad news has been bought.  Firms that miss revenue and guide lower were being bought, well at least most of the heavy hitters. 

Then came the Fed minutes.....

They've been hinting that they may or may not taper, increase, decrease, stop, add to, QE sometime between  July and........The Rapture....sheesh.   Anyway, the trial baloons have been going up for awhile, but the market turned on that message this week.  The actual economic news, at least on the headline level was good to very good.

Now, was it just an excuse to take profits, or are profits starting to be taken because participants now have to wonder if this market can ride on it's own without Bennies' rocket fuel... (hah, for you who grew up in the 70's that's a mixed metaphor)?

The week that was:

Here's each day again with it's respective daily pivots so you can look for confluence and relationships.  Well, for some reason I forgot to make a copy of Wednesday's. Friday's is a bit more compact to show the whole week.  The diagonal lines are channels I've drawn from earlier.  You'll notice as the week progresses, I'll remove them.  It's worth noting how price action will maintain a relative slope.  Notice on Friday's view, how even Thursday, and Friday's price action, even though it was below the lower channel line, the price action maintains a relative congruence with the line-happens alot:

Now, for a little mental self-gratification, here's a look at some levels on the daily for SPY (I do this for IWM, QQQ, TLT and FAS too)...but that's for paid subscribers ;-) :
 

Before we go Chicken Little, here are levels at which I am looking.  As you can see, the bottom of the price action from this week, just about tested the breakout   level from, wow... 10 days ago.  I've drawn in a fib line from the high to the low, one from the April low, and one from the November low that isn't readily visible.  As you can see, yesterday's action already had reached 38.2% retrace of the high to the low.  What I was looking for here was overlap in levels as you can see, there is relative overlap/confluence between two separate fib sequences where price closed Friday.  I'll also be looking for confluence between multi-time frame pivot levels and the fibs.

The blue shaded areas are gaps, and of course the green horizontal lines are price levels.  If we break through the week's low, we'll test that 163.70ish area and below that, of course the whole number (163)  Below that we have a fib confluence zone between 161ish and 161.25ish, the lower of which begins to get us into the gap.  By the way, the volume for the last few days has been significant as in topping volume, or at least the first attempt at a top.

You can see the channel lines I have drawn in.  Intersections of price action with the channel lines is worth my attention,(in an ADHD sorta' way) The last indicator on this page is Volume at price...As you can see, between 155 and the bottom of the gap just above 156, we did alot of volume as signified by the red box.  That also corresponds with the 38.2 retrace of this run since November...that would likely be the line in the sand.

Having said that, I didn't even show you where we could go on the way up...If we head north, I think next pullback happens somewhere in the 172-178.50 area, based on Fib projections..(Might as well go Voodoo, and cut the head off a chicken and drip the blood on my computer...probably be just as accurate.)

Anyway, the week that is:

 

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: : Bernanke Speaks, the Market Freaks

Markets were struck by a wave of volatility this week as a series of unsettling events and data uncovered strains in the 2013 rally. Equity, bond, and currency markets all saw increased volatility as participants pondered whether central bank policies might hit some bumps in the road. The fulcrum point of the week was Fed Chairman Bernanke's Q&A during testimony before Congress, during which many participants detected a more hawkish taper-friendly tone from the chairman. Equity markets traded off hard in the wake of his talk and US equity markets opened lower for the next two consecutive sessions. Hours after Bernanke spoke, the latest China HSBC flash manufacturing PMI report came in at 49.6, missing expectations and registering its first contraction in seven months. The Nikkei lost 7% on the day and the BOJ moved to contain volatility in the JGBs, announcing a ¥2T fund supplying operation after the 10-year yield moved to a multi-month high level above the 1%. Gold, oil and the dollar all traded off pretty hard, and while most of these asset classes made up losses through the end of the week, there was a widespread feeling that the long rally had been derailed. For the week, the DJIA fell 0.3%, while the S&P500 and Nasdaq each lost 1.1%, as the VIX volatility index popped 13%.

- On Wednesday, Chairman Bernanke presented congressional testimony that repeated, practically word for word, statements about policy he has been making since last September. He said the Fed would keep buying $85B of bonds monthly until it was confident of reducing unemployment, while the scale of these purchases might be increased or decreased if warranted by better or worse data. Many market participants interpreted as hawkish his comment that the Fed could start tapering purchases over the next few meetings. He emphasized, that at the moment, there is no case for a change in either direction. The minutes from the May 1st FOMC meeting came out later the same day and repeated many of the same themes, although they did underscored the minority that said they were open to tapering. One member called for an immediate decrease in the rate of QE3 asset purchase program.

- Amid the incessant hand wringing surrounding the Fed's taper dilemma, US treasury yields finished up only a few basis points on the week. A jolt of selling following Bernankie's Q&A session on Capitol Hill was cancelled out as cooler heads kept the benchmark 10-year yield at 2%, below the March highs.

- The wide swings in the Nikkei and the yen this week presented the first big test of market confidence in Abenomics. In the wake of the weak China May HSBC PMI reading and concerns about Fed tapering, the Nikkei fell 7.3% in Thursday's session, the biggest slide in the market since the 2011 tsunami disaster. On Friday, the Nikkei saw a tumultuous session, traversing a 7.1% range between positive and negative territory before ending up 1% or so. Meanwhile, the yield on the 10-year JGB climbed higher this week, rising to one-year highs around 1.0%, nearly three times the level where it settled after the announcement of Abenomics. The yen strengthened in choppy trading, with USD/JPY dropping more than three big figures to trade firmly in the 100 handle.

- Solar names were highly volatile this week on reports that the US, Europe and China were looking to set up negotiations for a grand bargain to cut tariffs on solar products and end product dumping conflicts. US sources shot down reports early in the week that the three sides were close to any sort of deal, although subsequent stories indicated some level of talks were under way. Solar ETF 'TAN' was up as much as 15% on the week early on Tuesday, before giving up all these gains by Thursday morning.

- Confirming widespread rumors, Yahoo said it would acquire trendy blogging site Tumblr for $1.1B in cash. Tumblr will maintain a degree of independence in managing its 108 million blogs with CEO and founder David Karp at the helm, per Yahoo's promise "not to screw it up." Not breaking stride, Yahoo reportedly joined the bidding frenzy for internet video purveyor Hulu, which has attracted a half dozen potential offers. In other deal news, Actavis said it would acquire Irish firm Warner Chilcott in all-stock deal valued at approx $8.5B. The acquisition makes Actavis the premiere women's health company. Valeant Pharmaceuticals, which was said to be eyeing Actavis, instead opted to acquire privately held Bausch & Lomb for about $9B, in a deal that is expected to be formally announced next week. Wall Street seems to approve of the deal, as Valeant shares gained over 10% on Friday.

- Europe was pretty quiet though most of the week, with EUR/USD trading dictated by the moves in the US and Asia. Late in the week a few more positive data points inspired speculation that the euro zone might not be seeing negative rates anytime soon. Advance May PMI data and May business confidence readings for Germany and France were all better than expected and ticked up off the April readings, suggesting that there may be some improvement in the continent's economy. EUR/USD was volatile in the wake of Bernanke's comments on Wednesday, initially trading as high as 1.3000 before dropping to 1.2825 later in the same day. The pair closed out the week around 1.2930.

- Softer-than-expected UK April inflation data - which would provide the BoE with more impetus to stimulate - sent GBP/USD as high as 1.5280 early in the week, before weak April retail sales data and then Bernanke let the air out of cable, which bottomed out around 1.5010. CNY strengthened to 6.1260 to 19-year highs on market speculation that Beijing would imminently widen the trading band.

- The Chinese property sector is showing resistance to the government's steps to curb housing inflation. April property prices across 70 cities rose 4.9% y/y - the biggest increase since Apr 2011 - while m/m growth was at 1.0%, down from 1.2% in March. Analysts are increasingly concerned that policymakers will be unable to control property market gains, just as the China Academy of Social Sciences (CASS) warned about the risks of a property/financial bubble brewing in Hong Kong.



TradeTheNews

May 24 2013

Not really our day, what with low volume and slow creep-up, while everyone was jockeying for no position into long weekend. Uneven week with uneven end.

Session Time: Fri May 24 00:00:00 2013
[09:06] {dptl} gm
01[09:06] {&Threei}  dp :)
[09:06] {nemo} says who?
01[09:06] {&Threei}  dp
[09:07] {nemo} mmmhhhh....not sure of his bona fides to make such an assessment
[09:08] {dptl} so this is long weekend coming up?
01[09:08] {&Threei}  yes
[09:09] {dptl} always something..nobody wants to work :)
01[09:10] {&Threei}  as always... everyone's happy but self-employed, groaning when hear about another holiday
01[09:11] {&Threei}  saw a lot of that when new one was implemented in BC
[09:11] {dptl} nature is unkind
[09:12] {jdetente} good morning guys
[09:12] {cipher} gm
01[09:13] {&Threei}  jd, cipher :)
[09:15] {Les} hey vad
[09:15] {Les} et al
01[09:15] {&Threei}  Les :)
[09:15] {Les} what u post in log last night? the floor?
[09:16] {Les} can't see what Nemo and Ron said of me while I was away...
01[09:17] {&Threei}  lol
[09:17] {nemo} vain isn't he?
[09:19] {Alexs} good morning
01[09:20] {&Threei}  alex :)
[09:21] {Will49} gm
01[09:21] {&Threei}  will :)
01[09:22] {&Threei}  (UK) Pakistan International Airlines passenger plane has been diverted from Manchester airport for "security reasons" and is being escorted by fighter jets - UK media- The plane carrying 297 passengers has been diverted to Stansted airport. - Officials indicate that jets were usually sent when communication is lost with the airplane
[09:25] {backman} gm
[09:25] {ese} good bye and good morning
[09:25] {RonS} cya and good morning
[09:25] {dino} gm
[09:25] {ese} forgot to say goodbye yesterday before leaving
01[09:25] {&Threei}  bman, ese. ron :)
01[09:26] {&Threei}  dino :)
01[09:31] {&Threei} Short Setup: GDX  .70 break
[09:32] {+cc_9} Morning fellers
01[09:32] {&Threei}  cc9 :)
[09:32] {Les} and me
[09:32] {Les} I am an extraterrestrial
[09:33] {nemo} bacterium to be specific
01[09:33] {&Threei}  rofl
[09:33] {Les} good one bunny
[09:33] {dino} gps sm l .51
[09:33] {nemo} leave bunny out of it
[09:34] {cipher} ACHC L .51
[09:34] {ese} you guys a re a serious challenge on the brain in the morning
01[09:34] {&Threei}  (HU) Hungary Econ Ministry releases updated fiscal plans, includes new advertisement tax
01[09:34] {&Threei}  right... tax the advertisement
[09:34] {nemo} yes, the smaller your glial organ the more of a challenge...big one for you, hah ese?
[09:35] {ese} what the H is a glial organ?
[09:35] {nemo} well, I was shooting from the hip actually, glial cells are one of the component cells of the brain
[09:35] {ese} L bx ,25 by the way
[09:36] {nemo} I just had to come up with a semi-insult quick
[09:36] {ese} lol
01[09:36] {&Threei}  no go
[09:36] {dptl} stopped gdx
01[09:37] {&Threei} Long Setup:  FCX  .80 break
01[09:37] {&Threei}  If holds  .70
[09:38] {dino} fl
[09:39] {dino} fl sm l .50
[09:39] {dino} out gps .82, +.31
[09:41] {ese} out bx .52 +.27 3k worth...................hate to say goodbye but i gotta go....barbecue at Vic High today and i'm in charge...have a great weekend all
[09:41] {Will49} peace
[09:41] {ese} cya will
[09:42] {nemo} don't let the door hit you in the ass on the way out
[09:42] {ese} will try not to
[09:42] {nemo} might cause brain damage
01[09:42] {&Threei}  ese left faster than anyone could mention long weekend
[09:43] {nemo} maybe I'll log in on Monday to bust his balls
01[09:43] {&Threei}  I wonder if he comes to the room on Monday wondering where everyone is
[09:43] {backman} FCX trade to .68////is it still valid
[09:44] {dino} gps sm l .51
[09:44] {backman} ?
01[09:45] {&Threei}  FCX valid
[09:48] {Les} l tza .35 holding .25
[09:48] {Les} half out
01[09:49] {&Threei} Short Setup: CAT  .40 break hl
[09:49] {nemo} oops
01[09:49] {&Threei}  spread widened...
[09:50] {nemo} you talking about CAT or a woman's ass as she ages?
[09:50] {Les} quarter 1:2
[09:51] {Les} all out 1:3
[09:51] {Will49} good one Les
[09:51] {Les} slowly working out these ETF plays ty
[09:51] {jdetente} Nemo...lol
[09:52] {cipher} IBB L.10
01[09:54] {&Threei}  out CAT
[09:54] {dino} tm
[09:54] {jdetente} .45 was the stop?
01[09:55] {&Threei}  FCX 1:1
01[09:55] {&Threei}  originally no, but it behaved weirdly
01[09:55] {&Threei}  and FCX triggered, so I prefered to focus on a normal one
[09:56] {dino} fl stop .19 -.31
[09:58] {dptl} out fcx second half
[09:58] {Will49} slso
[09:58] {Will49} also
[09:58] {Les} sm long tna .62 holding .50
[09:59] {jdetente} freakin CAT
[09:59] {dptl} yeah
[10:00] {Les} no go
[10:00] {dptl} CHK .20 short?
01[10:02] {&Threei} Long Setup:  GLD  .50 break hl
01[10:03] {&Threei}  2 men removed from plane at Stansted, both arrested on suspicion of endangerment of an aircraft
[10:03] {cipher} josb l .16
01[10:03] {&Threei}  GLD is valid still
[10:03] {Alexs} gld valid?
[10:03] {Alexs} k
01[10:09] {&Threei}  Invalidated
01[10:10] {&Threei} Short Setup: AOL  .69 break hl
01[10:11] {&Threei}  If holds  .77
[10:12] {cipher} CVLT L..30
[10:12] {Alexs} r u in AOL Vad?
01[10:12] {&Threei}  it never triggered
01[10:15] {&Threei}  GLD
01[10:15] {&Threei}  setup is back
01[10:15] {&Threei}  with .48 stop
01[10:15] {&Threei}  .38
[10:16] {Les} bit tight
[10:16] {backman} plz repeat call...power surged me out
01[10:17] {&Threei}  never mind
[10:17] {dino} alk sm l .76
[10:17] {dptl} stopped
[10:19] {nemo} STX
[10:21] {cipher} out CVLT .99 +.69
[10:22] {dino} alk stop .47, -.29
01[10:22] {&Threei} Long Setup:  C  .20 break
01[10:22] {&Threei}  If holds  .10
[10:24] {nemo} choppy mess out there...
[10:24] {nemo} kinda' like Les' brain
[10:25] {dino} yeah
[10:25] {nemo} See Les, we all agree
[10:25] {thomcbell} long setup splk 44.24 break if holding 44.14
[10:26] {nemo} Makes sense though, why do theyy want to drop this thing before the long weekend
[10:27] {thomcbell} sorry guys was late in typing - i got about a half lot
[10:27] {thomcbell} Vad no i like C more
[10:27] {thomcbell} thru that level
[10:28] {thomcbell} now i like
01[10:28] {&Threei}  yeah, shapes up well
[10:28] {thomcbell} lvs 57.10 long break
[10:29] {dino} alk rinsed
[10:29] {dino} re-loaded
[10:30] {backman} amy trail on C
01[10:30] {&Threei}  not yet
[10:32] {thomcbell} lvs 1:1
[10:32] {dino} fl sm l .01
[10:33] {thomcbell} wow splk got 1:2 and then last quarter stopped
01[10:34] {&Threei}  let's trail to .14 now
[10:37] {dino} 07 green
[10:37] {dino} giddy-up
[10:40] {Les} C weak as water
[10:40] {Les} might mean an index short setup shortly
[10:42] {dptl} out c
[10:42] {jdetente} not delighted
01[10:43] {&Threei} Short Setup: FCX  .45 break
01[10:43] {&Threei}  If holds  .55
[10:43] {thomcbell} lvs stopped second half
[10:44] {thomcbell} stil want an entry .
[10:47] {dino} out alk .05, +.30
[10:50] {cipher} ulta s .74
[10:52] {nemo} crm looks short below 42
[10:52] {nemo} 49
[10:53] {dptl} heh was thinking .28 short CRM
[10:54] {nemo} If it were Les, I'd cancel my thought
[10:54] {Les} sure
[10:54] {Les} mushin baby
[10:55] {nemo} yes, but in your case it's literal
[10:55] {cipher} UL:TA stopped -.06
[10:55] {Alexs} trail stop on FCX?
[10:55] {Les} let's all be children and say "MIRROR!"
[10:56] {nemo} nah, you fill the quota just fine
[10:56] {nemo} ACN here might be short
[10:57] {nemo} size flashed at .35
[10:58] {nemo} acn holds .40 and drops .35 should be good to go
[10:59] {cipher} ULTA L.72
[11:00] {nemo} 1:1
[11:01] {nemo} so choppy today
[11:01] {nemo} drinking day
[11:01] {nemo} then again, what makes today different
[11:01] {jdetente} hear hear
[11:01] {Will49} second that
[11:01] {Les} l tza .42
[11:01] {nemo} on my third actually
[11:01] {Les} holding .30
[11:02] {nemo} 1:2
[11:02] {nemo} well coming
[11:02] {nemo} Les, this is a chopfest, I'd be real careful
[11:04] {cipher} LQDT L.87
[11:05] {nemo} ANF, not much for break outs today though
[11:05] {nemo} but, definitive buyer
[11:06] {nemo} worked
[11:07] {dptl} fcx trail to .51?
01[11:08] {&Threei}  .52 rather
[11:08] {dptl} k
[11:08] {nemo} Les, my opinion (and we know what that's worth ;-)) no marginal setups, be careful of breakouts and breakdown's today, short from resistance and buy at support unless a trend develops
01[11:08] {&Threei}  have you guys see this out of bounds print at .54?
[11:09] {nemo} must have been Les
[11:09] {dptl} yeah
[11:09] {Les} yeh
[11:09] {Alexs} no
01[11:09] {&Threei}  that's your answer why I don't like automated stops
01[11:09] {&Threei}  you don't have a tail reaching .54 at 11:08 candle alex?
[11:10] {Les} TZA stopped
[11:10] {Alexs} no
01[11:10] {&Threei}  weird
[11:10] {Alexs} its just in your system
01[11:10] {&Threei}  dp has it too
01[11:10] {&Threei}  and les
[11:11] {Will49} and me
[11:11] {cipher} out LQDT .07 +.20
[11:11] {jdetente} I don't see that either Vad
[11:12] {dptl} some systems has filters on those trades
[11:12] {nemo} pull in time
[11:13] {dptl} stoppes fcx
[11:13] {Alexs} I have TD  Ameritrade as well they don't have either
[11:14] {nemo} now anf might be long back to resistance at .85ish
[11:14] {nemo} iwm pivot at .45
[11:18] {Alexs} in lightspeed when u use customized stop u can use a filter to exclude wrong prints
[11:23] {Les} realised got my ass rinsed on TZA took it again .36 half out
01[11:23] {&Threei} Short Setup: SLW  .05 break
[11:27] {jdetente} alright SLW let's get something out of you
01[11:28] {&Threei}  seriously
[11:28] {Alexs} what stop slw?
[11:28] {jdetente} a 1:3 would be nice
[11:28] {dptl} what was the call?
[11:28] {jdetente} short breaking .05
01[11:28] {&Threei}  11:23] {&Threei} Short Setup: SLW .05 break
01[11:29] {&Threei}  well, .11 and .15 are equally valid by chart
01[11:29] {&Threei}  .11 has more chance of a rinse
01[11:29] {&Threei}  I prefer .15
[11:29] {dptl} you in?
[11:29] {jdetente} it triggered dp
[11:30] {Alexs} k
[11:30] {dptl} ok in .04
[11:30] {dptl} got disconected
[11:31] {Alexs} this is advantage of mibbit u can see previous chat
[11:32] {Alexs} after connection
[11:32] {nemo} WSM arguably a long here, but no momentum
01[11:32] {&Threei}  yeah, we tried to reproduce it in mirc, no luck
01[11:33] {&Threei}  it's a server software feature, it doesn't exist on the hosting server we use
[11:33] {Alexs} I like mibbit but the sound alerts
01[11:33] {&Threei}  mibbit introduces another server inbetween
01[11:33] {&Threei}  which means slower and another link to be broken in the chain
[11:33] {nemo} volume wsm
[11:34] {nemo} now that's a weird candle...perfectly neutral
[11:35] {dino} jive
[11:35] {nemo} was just gonna say that dino
[11:35] {Will49} jive?
[11:36] {dino} drop/pop
[11:36] {Les} 2h tza stopped
[11:36] {Les} chop chop
[11:36] {Will49} tks dino
[11:38] {dino} np
[11:38] {dino} sm .70 s
[11:39] {Alexs} it's time to intimidate SLW Vad
[11:39] {dptl} so .15 stop?
[11:40] {Les} c&h spy
01[11:41] {&Threei}  they don't seem to be afraid of me today, alex
01[11:41] {&Threei}  I might be losing my "scare'em edge"
[11:41] {Les} close enough to 1:2 ty Nemo WSM
[11:42] {Les} you see there is a kind caring heart in that rotten pit of a ribcage
01[11:42] {&Threei}  nemo faints
01[11:43] {&Threei}  suggeastion that he has kind caring heart beating in his chest makes him want to rip that chest open
[11:43] {cipher} +.25 WSM thx nemo
[11:45] {dino} cov jive .30, +.40
[11:46] {cipher} qcor l.22
01[11:48] {&Threei}  FB is getting heavy
[11:50] {Les} see it's losing its charm in daily
01[11:50] {&Threei}  yup
[11:52] {jdetente} yeah nice weekly chart hehe
[11:53] {jdetente} now if SLW would only cooperate and make this day a little brighter
[11:56] {dino} fl to .36
[11:56] {dino} out +.35
[12:01] {dino} global warming b.s. 50 degrees here and all thru weekend. should be averaging 75-80
[12:01] {nemo} get with the propaganda...it's climate change
[12:02] {dino} 2 of 3 past winters we set records for lows
[12:02] {cipher} UTHR L .45
01[12:02] {&Threei}  ok... 11 now
01[12:02] {&Threei}  .11
[12:03] {RonS} demand here for a slower moving pick than slw...head spinning...
[12:03] {dino} vrx
[12:04] {dino} damn can't borrow vrx
01[12:04] {&Threei}  sorry Ron
01[12:04] {&Threei}  I'll try to call GOOG next time
[12:04] {jdetente} 1000 shares of GOOG
[12:04] {RonS} lol
[12:05] {dino} vrx 4 buck spike
[12:06] {Les} my god vrx
[12:06] {Les} someone making their forture
[12:06] {Les} fortune
[12:07] {jdetente} or losing their a*s
[12:07] {Les} gotta be someone on the other side of that trade :)
[12:07] {dino} halt coming imo
[12:07] {Les} 10 dollar spike
[12:08] {dino} rumors takeover
[12:08] {Les} wtf?
[12:08] {dptl} damn it...after all
[12:08] {Les} slw
[12:08] {jdetente} speaking of halted
[12:08] {dptl} out .21
[12:09] {dptl} what the heck
[12:09] {jdetente} got my butt out at .11
[12:09] {cipher} +.73 VRX short
[12:09] {cipher} took 2 seconds
[12:09] {dino} yeah 85 break was trig
[12:09] {dino} coo spike
[12:10] {cipher} no balls to hold beyond that
[12:10] {Les} slw halted. strange day
01[12:10] {&Threei}  wtf
[12:10] {Alexs} that's the case when auto stop is better
[12:10] {dptl} scrude me big time
[12:10] {Will49} that's two of us
[12:10] {Will49} at least
01[12:11] {&Threei}  ABX hatled
[12:11] {jdetente} I'm not getting emotional but today is frustrating me :)
01[12:11] {&Threei}  hatlfest
[12:11] {Will49} where's my valium?
[12:11] {Alexs} look ar gdx
[12:11] {Les} pretty sure Nemo had the answer at 10am
[12:12] {jdetente} well I'm joining Nemo's club right now
[12:12] {Alexs} at
01[12:12] {&Threei}  Barrick Gold Corp Halted; Chile said to be suing Barrick over Pascua-Lama Project - financial press***Reminder: On April 10th, ABX announced that it would suspend construction work on the Chilean side of the Pascua-Lama project while working to address environmental and other regulatory requirements to the satisfaction of Chilean authorities. In the interim, activities deemed necessary for environmental protection will continue as authorized. On April 18th there were rumors that the Chile interior ministry may be making overtures about a compromise on Pascua Lama Project.
[12:12] {nemo} send in your application and fee
[12:12] {Les} go greenies
[12:12] {jdetente} we should've played a drinking game this morning, shot for every stop lol
01[12:12] {&Threei}  this must be what's killing GDX
[12:12] {cipher} out UTHR .59 +.14
[12:12] {Les} awful day to be a gold bull.... again
[12:13] {Alexs} it's bouncing though
[12:13] {Les} tza long .21 holding .15
[12:13] {Alexs} slw still halted
[12:14] {Les} got clobbered exit .26
[12:14] {dino} vrx 85 break again, imo,
[12:14] {Les} exiting
[12:18] {Les} tza stopped. grind up
[12:18] {nemo} les look at the channel
[12:18] {nemo} SPY probably has to get to pivot
[12:18] {nemo} that means IWM goes with it
[12:20] {jdetente} taking a drink break
[12:20] {Les} ok that'll be my last stand at the Alamo
[12:20] {RonS} SLW on Bloomberg, it's regarding Pascua-Lama
[12:21] {RonS} on stocktwits...SLW they have a provision in place to acquire stream ounces from other $ABX mines though, should be non-issue
01[12:21] {&Threei}  they are ABX's partner in that
01[12:21] {&Threei}  &*(%^#
01[12:22] {&Threei}  - Note: SLW is a partner with Barrick on the Pascua Lama project
[12:22] {RonS} According to a filing w Chile’s regulator, $ABX must spend $29M to meet environmental standards at Pascua Lama. http://stks.co/tE8t
[12:22] {Les} lol first time caught out on halt trading with Vad
[12:22] {Les} if you're lucky it sells off
[12:22] {Les} just thank the regulators for protecting you
[12:23] {RonS} ABX $16M fine on top of $29M it must spend to meet environmental standards. Ouch!
[12:23] {Alexs} is that a big money for them?
[12:25] {Les} spy just broke bottom of channel
[12:25] {nemo} not quite
[12:26] {nemo} imo
[12:26] {Les} I don't count wicks, so its an inside trend line. IWM holding its line
[12:26] {nemo} so, it's merely a flesh wound
[12:26] {nemo} oy vay
[12:26] {nemo} frickin tight tape like this and you don't count wicks
[12:27] {thomcbell} lol
[12:27] {Les} need lower high in iwm and break thru .50 support
[12:29] {nemo} URI might be a short here against .10
[12:29] {dino} calling it a day. decent one. thx all. have safe holiday. and many thanks to any vets out there
[12:29] {nemo} so, you were saying Leslie?
[12:29] {Les} saying nothing dude.
[12:29] {Will49} peace dino
[12:29] {Les} I have no confirmation needed for short entrfy
[12:29] {Alexs} take care dino
01[12:29] {&Threei}  have a great one dino, see you Tuesday
[12:29] {Les} cheers dino
[12:29] {nemo} ahem!   "[12:26] {Les} I don't count wicks, so its an inside trend line. "
[12:29] {dino} :)
[12:29] {Les} what is this weekend, vets weekend?
[12:29] {Les} ah ok
[12:32] {Les} long .06 tza
[12:33] {nemo} as spy comes into the trend line....
[12:36] {Les} half ot the door
[12:36] {cipher} UTHR S .75
[12:37] {Les} ty Nemo, forgotten the importanfe of trend lines
[12:37] {Les} especially on theses shitty grind up days
[12:37] {Les} quarter out 1:2
[12:37] {Les} damn Nemo u r a nice guy
[12:37] {Les} don't let anyone tell u otherwise
[12:37] {nemo} perish the thought
[12:38] {cipher} cov UTHR .55 +.20
[12:40] {Les} at $18.50 ABX is daily inverse cup and handle with target of $17.50, should selling kick in
[12:47] {Les} last quoarter stopped tail
[12:47] {Les} trail
[12:48] {Alexs} nice call les
[12:48] {Les} ty alex. learning phase on these etfs
[12:49] {Les} might be second entry op coming
[12:49] {Les} anyone wanna guess market close?
[12:50] {Les} probably grind the bears into long weekend
[12:50] {RonS} bet 4 pm edt...
01[12:51] {&Threei}  hmmm
01[12:51] {&Threei}  that's a good odds bet
[12:51] {Les} oh
[12:51] {Les} i get it
[12:52] {Les} call me lightning
[12:53] {cipher} LBTYA L .12
[12:55] {cipher} LBTYK L.65
[12:58] {Les} long tza .12 holding .05
[13:01] {cipher} out LBTYK .85 +.20
[13:01] {cipher} out LBTYA .33 +.21
[13:04] {nemo} tsla headed for the century mark
[13:05] {nemo} A license to sell medical Marijuana in MA is gonna' cost $50K
[13:05] {Les} govt. gets its cut
[13:05] {jdetente} so Nemo...have you submitted your app?
[13:05] {nemo} nah, my days with that stuff are long gone
[13:07] {Les} stopped
[13:07] {nemo} let me guess...long tza again?
[13:08] {nemo} gonna' call you Monk Sha
[13:10] {Les} still in shit
[13:10] {Les} hate that
[13:11] {Les} out -.03
[13:11] {Les} need spikes like dino
[13:11] {Les} grind sux
[13:21] {nemo} pivot reached in SPY
[13:22] {Les} recross of 32 holding .90 or .95 in TZA
[13:22] {RonS} goddam NYSE...SLW.CA was immediately halted, $SLW took about a min or two longer, and it popped 26c, I don't like the halt but I'm still bullish
[13:23] {nemo} you go girl
[13:23] {Les} yeh Ron
[13:23] {Les} you tell him Nemo
[13:24] {RonS}  Silver Wheaton (SLW:$23.30,00$0.21,000.91%) holds a 5% share of the estimated average annual silver production for the first full five years of Pascua-Lama's operation. According to current estimates, this is the equivalent of nine million ounces of silver.
[13:26] {Les} why be bullish on SLW with such news?
[13:27] {RonS} sorry quote from stocktwits...some saying slw has a re-purchase agreement w/abx in case no mine...
[13:27] {Les} ahh
01[13:33] {&Threei} Short Setup: GDX  .40 break
01[13:38] {&Threei}  http://www.youtube.com/watch?feature=player_embedded&v=qGxLkaCdpLc
[13:44] {RonS} Soviet comedy?
[13:44] {RonS} :)
01[13:44] {&Threei}  lond of :)
01[13:44] {&Threei}  kind
[13:55] {jdetente} SLW halt sure has dragged on.
01[13:56] {&Threei}  still no time for either SLW or ABX to open on the current halts list
01[13:56] {&Threei}  news is out, what the heck
[13:56] {dptl} you still in?
01[13:57] {&Threei}  just 200 shares
01[13:58] {&Threei}  Invalidated  GDX
01[14:03] {&Threei}  GLD is flirting with day low
01[14:03] {&Threei}  well, "not far from it" would be better way to put it
[14:06] {dptl} P .80 short?
01[14:06] {&Threei}  looks right
[14:07] {nemo} and the grindup continues
[14:08] {dptl} in p
[14:08] {nemo} mmmhhh, that might be it on SPY
[14:15] {dptl} watching CRM for short somewhere
[14:16] {thomcbell} feel like there is room it being Friday before holiday weekend
[14:17] {nemo} iwm green
[14:17] {nemo} fas just about there
[14:17] {nemo} spy .20 more cents
[14:19] {nemo} Les, why don't you short here?
[14:19] {Alexs} where is entry on GLD Vad?
[14:20] {dptl} in CRM .59
01[14:20] {&Threei}  I'd say .10
[14:20] {Alexs} so it's time?
[14:20] {dptl} nope out
[14:22] {dptl} i'll try .60 break again
[14:23] {Les} tza .81
[14:23] {Les} hlding .75
01[14:23] {&Threei}  P 1:1
01[14:24] {&Threei}  something works... wow
[14:26] {jdetente} I really wanted that shot but I'll take the cash
[14:26] {jdetente} now I'll just have it in celebration
[14:26] {Les} half .89
[14:28] {dptl} CRM .65 break short
[14:29] {dptl} no not yet
[14:30] {dptl} yeah....really bad day i had...
01[14:32] {&Threei}  trying to remember... have I ever heard from you "I had a great day"?
[14:32] {dptl} yeah  it was monday :)
01[14:32] {&Threei}  yeah, but have we heard that?
01[14:32] {&Threei}  ever?
[14:32] {dptl} yeap
[14:32] {Les} hehe it's all in the mind
01[14:33] {&Threei}  it's not like you never had one, right?
[14:33] {Will49} aren't Russians supposed to be gloomy? :)
[14:33] {Will49} when sober
01[14:33] {&Threei}  are they ever?
[14:34] {Les} a little moreoff at .94
01[14:36] {&Threei}  1:2 P
01[14:36] {&Threei}  you in that, dp?
[14:36] {Les} out .98 TZA
[14:36] {dptl} ye
[14:37] {dptl} want to cover around .50
01[14:37] {&Threei}  OK, tell me when you are done with it, I want to offer you one mental experiment
[14:37] {dptl} k
[14:37] {Les} I'm trfing to find this setup, P...
01[14:38] {&Threei}  ?
01[14:39] {&Threei}  break of .80, nice cute DBI
[14:39] {Les} looking thru floor for your call
[14:39] {Les} must have missed it
[14:39] {Les} someones call
01[14:39] {&Threei}  it was dp's question
01[14:39] {&Threei}  [14:06] {dptl} P .80 short?
01[14:39] {&Threei}  [14:06] {&Threei} looks right
[14:48] {dptl} out p
[14:48] {dptl} ok Vad
01[14:48] {&Threei}  ok
01[14:49] {&Threei}  imagione a board, 2 ft wide, 30 ft long, lying flat on the ground
01[14:49] {&Threei}  can you walk it safely and confidently?
[14:49] {dptl} yes
01[14:50] {&Threei}  now, same board
01[14:50] {&Threei}  same width, same lenght,
01[14:50] {&Threei}  only now it's suspended in the air at the heigh of, say 500 ft
01[14:50] {&Threei}  can you walk it still?
[14:51] {dptl} well that would be much harder yes
01[14:51] {&Threei}  why?
01[14:51] {&Threei}  it's same board that you could walk with no troubles
01[14:51] {&Threei}  so we do know that its widt is enough for a person to be able to keep balance on
01[14:51] {&Threei}  and its length is not beyond this same person's capabilities
01[14:52] {&Threei}  so, why this simple tast suddenly becomes next too impossibleZ?
01[14:52] {&Threei}  task
[14:52] {dptl} the coast of mistake is much bigger
01[14:52] {&Threei}  right
01[14:52] {&Threei}  so?
01[14:52] {&Threei}  what's happening?
01[14:53] {&Threei}  I ask this because it's counter-intuitive:
01[14:53] {&Threei}  since cost of an error is so high, you should be expecially focused, attentive, careful, right?
01[14:53] {&Threei}  and if you could navigate it when it was nothing to worry about,
01[14:53] {&Threei}  then you should be able to do it even more confidently now that you know you need to focus?
01[14:54] {&Threei}  yet opposite happens
01[14:55] {&Threei}  any guess?
[14:55] {thomcbell} have a good weekend guys
[14:55] {Les} ciao tbell
01[14:55] {&Threei}  take care tbell, see you Tuesday
[14:55] {dptl} yes i see....i see what you mean....
01[14:56] {&Threei}  try to put it in words
01[14:56] {&Threei}  this is obviously self-sabotage in works,
01[14:56] {&Threei}  but I want you to see how exactly it works
[14:56] {nemo} now things look short
01[14:57] {&Threei}  so, try to explain it?
01[14:59] {&Threei}  want me to?
[15:00] {dptl} i am just so frastrated of being wrong so many times, its like i cant find my edge....as Dino would say.....sometimes i see set up and it looks good, but actually its not, and then someting i dont understand works....feels like i am stuck
01[15:00] {&Threei}  GLD 1:1
[15:00] {Les} wooohoooo
01[15:01] {&Threei}  you are back to techniques...
01[15:01] {&Threei}  I am talking about mindset and self-sabotage
01[15:01] {&Threei}  it's about what you are focused on
[15:01] {dptl} it seems like one comes from another
[15:01] {nemo} Do you have your setups written up, and it what markets they work and don't work?
[15:01] {Les} out gld ty
[15:01] {Les} omg gld
01[15:01] {&Threei}  woohooo
01[15:01] {&Threei}  out
[15:02] {Les} u scored
01[15:02] {&Threei}  1:4
01[15:02] {&Threei}  takes some bite off
[15:02] {nemo} crm looks short
01[15:02] {&Threei}  while that board was lying on the ground, you focused on what?
[15:02] {Alexs} day saver
01[15:02] {&Threei}  blue sky?
01[15:02] {&Threei}  green grass?
01[15:02] {&Threei}  butterflies?
01[15:02] {&Threei}  cute girl?
[15:02] {jdetente} hmmm I must've missed something
[15:02] {jdetente} didn't see that call
[15:03] {Les} lot of that goin round jd
01[15:03] {&Threei}  14:19] {Alexs} where is entry on GLD Vad?
01[15:03] {&Threei}  [14:20] {&Threei} I'd say .10
01[15:03] {&Threei}  as soon as danger became so prominent, you focused on that
[15:04] {nemo} wasn't an official call
01[15:04] {&Threei}  and your mind started cutting off everything else,
01[15:04] {&Threei}  leaving only the most dangerous developments in your field of attention
01[15:04] {&Threei}  your choices narrowed tho those only,
01[15:04] {&Threei}  and your actions followed.
01[15:05] {&Threei}  You focus on your losing days and trades so much, this is the only thing you see
01[15:05] {&Threei}  You take great day as nopthing, you never even acknowledge it
01[15:05] {&Threei}  but you can't srop talking and thinking about losing one
01[15:05] {&Threei}  This indicates where you focus
01[15:06] {&Threei}  and this narrows your chpices and actions to the field of losing actions
01[15:06] {&Threei}  you focus on them exclusively, you are drawn to them like magnet
01[15:06] {&Threei}  see what I am talking about?
[15:06] {dptl} hmm.. it feels like that yes
[15:07] {RonS} how can they open abx and not slw...
[15:07] {nemo} they did, so obviously they could
01[15:07] {&Threei}  have you ever seen a successful person in any field, being grim, moody, talkling doom-and-gloom?
01[15:07] {&Threei}  lol nemo
[15:09] {Alexs} economist Mark Faber
01[15:09] {&Threei}  is he grim about his success as economist?
[15:09] {nemo} all three indexes have the weekly pivots in range
01[15:09] {&Threei}  he is just a seller of doom and gloom
[15:09] {RonS} economist?...thought blowhard...
01[15:10] {&Threei}  and fairly successful at that
01[15:10] {&Threei}  yeam lol
[15:11] {dptl} i will have to think about that Vad. .....unfortunatly i have to run..... have a good weekend all see ya tuesday
[15:11] {Les} cheers dp
[15:12] {Alexs} good night dp
01[15:12] {&Threei}  take care dp
[15:12] {Will49} peace dp
[15:12] {jdetente} see ya dp
[15:24] {RonS} Silver Wheaton "Confident" in Barrick's Ability to Develop Pascua Lama
[15:24] {RonS} (but unsure if stock will ever trade again...)
01[15:24] {&Threei}  lol
[15:24] {Les} heh
[15:27] {nemo} So, you short Les?
[15:28] {Les} saw potential db but had enough of this crawling
[15:28] {jdetente} ahahaha
[15:28] {nemo} forehead too banged up?
[15:28] {nemo} or is it the other end?
[15:29] {nemo} I suppose I should get a piling on penalty today...so frickin' boring
[15:29] {Les} no
[15:29] {Les} satisfied with entry setup technique
[15:29] {Les} but this is just too slow now
01[15:30] {&Threei}  SLW
01[15:30] {&Threei}  open
[15:30] {nemo} well, I suppose taking it at one end could cause injury at the other
01[15:30] {&Threei}  out
01[15:30] {&Threei}  whew
01[15:30] {&Threei}  not too bad
[15:30] {RonS} covered 1k 22.78  +.28....sheesh  thanks 3i
01[15:30] {&Threei}  :)
[15:31] {jdetente} nice one guys...luck of the draw there
01[15:31] {&Threei}  true
[15:32] {RonS} have a good weekend all...need to change my diapers...
[15:32] {Les} no Mark, specific setup begins to show up even in this grind up
[15:32] {Will49} be good Ron
01[15:32] {&Threei}  don't give it second thought. Luck will change next trading day
[15:32] {Les} cheers ron
01[15:32] {&Threei}  have a good one Ron :)
[15:32] {nemo} iwm dropping but spy and fas not
[15:33] {nemo} Vad, I think it has more to do with his age than the trade
01[15:34] {&Threei}  well, getting stuck in halted stock IS nasty and diapers-inviting experience :)
[15:35] {Alexs} now I see that auto stop is a bad idea, lol
[15:36] {nemo} probably want to close spy at 165
[15:38] {Les} final setup tza .80 was the best. alas, without me
[15:39] {Les} final break of the intraday trend line
[15:39] {Les} finally a
[15:40] {nemo} well, you got a nice double top on IWM at yesterday's close
[15:40] {Les} did i?
[15:40] {nemo} IWM did
[15:41] {Les} yesterday close as resistance was logcially the best place, with DT to boot
[15:42] {Les} at these leves
[15:42] {nemo} must be an echo
[15:42] {Les} levels
[15:43] {Les} sorry thought you were talking about yesterdays close
[15:43] {Les} drugs r coming off
[15:43] {nemo} I was, as today's price action reached it
[15:44] {Les} outta here. enjoy yer long weekend
[15:44] {Alexs} ba short .02?
[15:45] {Les} a+
01[15:45] {&Threei}  I don't think there is enough time, alex
[15:45] {Alexs} k
[15:45] {jdetente} Have a good weekend guys. Let's get em on Tuesday...
[15:46] {Alexs} take care jd
01[15:47] {&Threei}  have a good one jd
[15:48] {Will49} Have a nice long weekend, American friends
01[15:48] {&Threei}  you too will
[15:49] {Will49} cheers Vad
01[15:50] {&Threei}  Ok guys, have a nice great relaxing weekend
01[15:50] {&Threei}  see you Tuesday
[15:51] {Alexs} have a nice one Vad
[15:51] {backman} l8r
[15:53] {Alexs} good night to all

May 23 2013

Finishing the day in profit but bored to death - been a good while since market has been this slow. After yesterday's activity one would expect some follow-through... one would be wrong.


[15:59] <+cc_9} ok folks, been a fun day, somewhat.
Session Time: Thu May 23 00:00:00 2013
[08:43] <+cc_9} *yawn* hi
01[08:44] <&Threei}  nnnnnnooooooo....
[09:01] 01[09:01] <&Threei}  cipher :)
[09:04] 01[09:04] <&Threei}  dino :)
01[09:16] <&Threei}  *(US) MAR HOUSE PRICE INDEX M/M: 1.3% V 0.8%E; Q/Q: +1.95% V 1.4% PRIOR
01[09:17] <&Threei}  new world... the better numbers the worse for the market
[09:18] 01[09:18] <&Threei}  dp :)
[09:19] 01[09:20] <&Threei}  alex :)
[09:22] 01[09:22] <&Threei}  ese :)
[09:22] 01[09:23] <&Threei}  ?
[09:23] [09:23] 01[09:23] <&Threei}  just go long on inverse ETFs, to preserve the feel... :)
01[09:23] <&Threei}  TZA, FAZ
[09:24] [09:24] [09:24] 01[09:24] <&Threei}  but even with shorting... view it as just a trade, thnere is not much difference
01[09:24] <&Threei}  when long, you buy first and sell later
01[09:25] <&Threei}  when short, you sell first... :)
[09:25] [09:25] 01[09:25] <&Threei}  or that
01[09:25] <&Threei}  market heard that maybe some day Ben will stop pouring money in the funnel
[09:26] [09:26] 01[09:26] <&Threei}  I retract that. new version:
01[09:26] <&Threei}  market heard that maybe some day Ben will start pouring money in the funnel a bit slower
[09:26] [09:27] [09:27] 01[09:27] <&Threei}  les :)
[09:27] [09:27] 01[09:27] <&Threei}  jd :)
[09:27] 01[09:27] <&Threei}  really ese... there is no difference, try not to listen to yourself to find one
[09:27] [09:27] [09:27] 01[09:28] <&Threei}  bman :)
[09:28] [09:28] 01[09:28] <&Threei}  EWJ I think?
[09:28] 01[09:29] <&Threei}  DBI, 2 days breakdown, divergence, ese
01[09:29] <&Threei}  JBE too, for salmons
[09:30] [09:30] 01[09:31] <&Threei} Short Setup: DCX  .60 break hl
01[09:31] <&Threei}  FCX
01[09:31] <&Threei}  If holds  .70
01[09:32] <&Threei}  still valid
[09:33] 01[09:33] <&Threei}  FCX
01[09:34] <&Threei}  Invalidated
01[09:36] <&Threei} Short Setup: GDX  .20 break
01[09:37] <&Threei}  If holds  .30
[09:37] <_babyheart 1999="" 2007="" analys="" and="" buy="" cncbc...="" crushed="" din="" got="" i="" most="" on="" p="" remeber="" retailers="" say="" when="">[09:37] <_babyheart all="" inn="" p="" vxx="">[09:39] <_babyheart any="" p="" pop="" short=""> 01[09:39] <&Threei}  trail to .26
01[09:40] <&Threei}  1:1
[09:40] [09:40] [09:40] [09:41] [09:41] [09:41] [09:43] 01[09:43] <&Threei}  1:2
[09:43] 01[09:43] <&Threei}  yw
[09:43] 01[09:44] <&Threei}  :)
[09:44] 01[09:45] <&Threei}  welcome guys
01[09:45] <&Threei}  not sure why gold and miners jumped at all
01[09:45] <&Threei}  while market got dumped
01[09:45] <&Threei}  but who cares
[09:46] 01[09:48] <&Threei} Long Setup:  JPM  .10 break
01[09:48] <&Threei}  If holds  53
01[09:52] <&Threei}  no go
[09:52] [09:52] [09:53] 01[09:53] <&Threei} Short Setup: SLW  23 break
01[09:53] <&Threei}  If holds  .10
[09:54] [09:56] [09:56] 01[10:00] <&Threei}  10:00*(US) APR NEW HOME SALES M/M: 454K V 425KE
01[10:00] <&Threei}  - *(EU) EURO ZONE MAY ADVANCED CONSUMER CONFIDENCE: -21.9 V -21.8E
[10:00] [10:01] [10:01] [10:01] 01[10:01] <&Threei}  lol
01[10:02] <&Threei}  trail to .06
[10:02] [10:04] [10:05] [10:06] [10:06] 01[10:06] <&Threei}  1:1
[10:06] [10:08] [10:08] [10:08] [10:09] [10:09] [10:09] [10:10] [10:10] [10:10] 01[10:11] <&Threei}  frikin JPM rinsed
[10:11] [10:11] [10:11] [10:11] 01[10:11] <&Threei}  don't put too much significance into that Les... look at our first GDX short
01[10:12] <&Threei}  BBs did the same, price dropped below 1:2
[10:12] [10:12] [10:12] [10:12] [10:12] [10:14] 01[10:15] <&Threei} Long Setup:  FAZ  .50 break
[10:15] 01[10:15] <&Threei}  If holds  .40
[10:18] [10:18] 01[10:18] <&Threei}  lol ron
[10:18] 01[10:18] <&Threei}  a few
[10:18] [10:19] [10:19] [10:19] 01[10:20] <&Threei}  ECB's Provopoulos: Greece's situation is turning around
01[10:20] <&Threei}  from bad to worse?
[10:20] [10:21] [10:21] [10:21] 01[10:21] <&Threei}  .44
01[10:21] <&Threei}  should have taken .59
01[10:21] <&Threei}  grrr
[10:21] [10:22] 01[10:22] <&Threei}  out
[10:22] [10:23] [10:23] [10:23] [10:24] [10:24] [10:25] [10:26] 03[10:26] * Retrieving #discussions modes...
[10:27] [10:27] [10:27] [10:27] [10:28] [10:28] [10:28] [10:29] [10:29] [10:31] [10:33] 01[10:35] <&Threei} Long Setup:  JPM  .25 break
01[10:35] <&Threei}  If holds  .15
01[10:36] <&Threei}  Invalidated
[10:36] [10:37] [10:37] [10:39] [10:39] [10:41] [10:41] 01[10:41] <&Threei} Long Setup:  GLD  134 break hl
[10:42] 01[10:42] <&Threei}  1:1
[10:43] [10:45] [10:47] [10:51] [10:51] [10:51] [10:51] [10:52] [10:54] [10:54] [10:54] [10:55] [10:55] [10:55] [10:56] [10:56] [10:56] [10:56] 01[10:56] <&Threei} Short Setup: CAT  .45 break hl
01[10:57] <&Threei}  If holds  .55
[10:57] [10:57] 01[10:57] <&Threei}  change to .50 break
01[10:58] <&Threei}  yeah, I liked yesterday much better
[10:58] 01[10:59] <&Threei}  1:1
[11:00] [11:01] [11:02] [11:03] [11:04] [11:06] [11:07] [11:10] [11:14] [11:17] 01[11:17] <&Threei} Short Setup: GDX  .80 break
01[11:18] <&Threei}  If holds  .85
[11:18] [11:20] [11:20] [11:21] [11:22] [11:22] [11:23] [11:23] 01[11:23] <&Threei}  1:1
[11:24] [11:28] [11:29] [11:29] [11:29] [11:33] [11:37] [11:37] [11:37] [11:40] [11:40] [11:40] [11:43] [11:44] [11:45] [11:45] [11:47] [11:47] [11:47] [11:48] [11:48] [11:48] [11:48] [11:48] [11:49] [11:49] [11:49] [11:50] [11:52] [11:53] [11:53] [11:53] [11:55] 01[11:58] <&Threei} Short Setup: CAT  87 vreak hl
01[11:58] <&Threei}  break too
01[11:58] <&Threei}  If holds  .10
01[12:00] <&Threei}  Invalidated
[12:01] [12:04] [12:07] [12:21] [12:33] [12:33] [12:34] [12:53] 01[12:53] <&Threei}  take care jd
[12:58] 01[13:08] <&Threei} Short Setup: LVS  .70 break hl
[13:09] [13:10] [13:21] 01[13:21] <&Threei}  yes
[13:25] 01[13:25] <&Threei}  1:1
[13:26] [13:34] 01[13:34] <&Threei}  yeah
[13:35] 01[13:35] <&Threei}  1 cent to 1:2
01[13:35] <&Threei}  lunch time
01[13:35] <&Threei}  should have just taken it
[13:36] 01[13:36] <&Threei}  Magnitude 7.4 earthquake strikes 255KM SW of Vaini, Tonga
[13:42] 01[13:46] <&Threei}  dp
01[13:46] <&Threei}  don't look at LVS
[13:47] [13:56] 01[13:57] <&Threei}  why?
[13:58] [14:06] [14:07] 01[14:08] <&Threei}  take care dp
01[14:11] <&Threei}  very quiet day
01[14:11] <&Threei}  not the calm summer quiet kind though
01[14:11] <&Threei}  rather stunned kind, after yesterday's shock
[14:12] 01[14:12] <&Threei}  be back in 20
[14:15] [14:22] [14:24] 01[14:33] <&Threei}  back
[14:33] 01[14:33] <&Threei}  just back :)
01[14:33] <&Threei}  never was in red today
[14:33] 01[14:34] <&Threei}  some little shadow of activity appears
[14:40] [14:41] 01[14:42] <&Threei} Short Setup: GLD  .50 break hl
01[14:42] <&Threei}  If holds  .60
[14:42] 01[14:46] <&Threei}  if invalidates, keep it on radar for reestablishing
01[14:46] <&Threei}  that .50 support is lucrative to break
[14:53] [14:55] 01[14:56] <&Threei}  no but watching GLD for .50 break
[14:58] [14:58] [15:00] 01[15:05] <&Threei}  ok, I am in
01[15:05] <&Threei}  let's try it
01[15:06] <&Threei}  .62 stop, hl
01[15:07] <&Threei}  target 1:2
[15:07] 01[15:07] <&Threei}  GLD
01[15:07] <&Threei}  .50 break short
[15:07] [15:07] 01[15:07] <&Threei}  lol
[15:23] 01[15:24] <&Threei}  take care dino
[15:24] [15:24] 06[15:25] * &Threei hits GLD over the head with 2x4
[15:25] [15:25] [15:34] [15:35] [15:35] [15:35] [15:36] 01[15:39] <&Threei}  I'd say, everything is iffy when it's this slow
[15:42] [15:42] [15:42] [15:43] [15:43] [15:43] 01[15:45] <&Threei}  Ok guys, calling it a day
01[15:45] <&Threei}  if you want to wait for GLD to resolve, trail it to .56
01[15:45] <&Threei}  I can't keep my chin away from the keyboard anymore
01[15:46] <&Threei}  see you tomorrow