June 17 2013

Gap-and-stall day, extremely slow and boring. Got a few winners, but rinses outweighed them.


Session Time: Mon Jun 17 00:00:00 2013
[08:07] <+cc_9} Morning Vad
01[08:51] <&Threei}  yawn
01[08:51] <&Threei}  hi cc9
[09:04] [09:04] 01[09:04] <&Threei}  hey Les
[09:05] 01[09:05] <&Threei}  dino :)
[09:06] 01[09:06] <&Threei}  dp :)
[09:11] [09:12] [09:13] 01[09:13] <&Threei}  164.24
[09:13] [09:14] 01[09:15] <&Threei}  will :)
[09:16] 01[09:16] <&Threei}  ese :)
[09:18] 01[09:18] <&Threei}  jd :)
01[09:18] <&Threei}  ese, look dcc pls
[09:21] [09:21] 01[09:21] <&Threei}  ron, alex :)'
[09:23] 01[09:24] <&Threei}  bman :)
01[09:35] <&Threei}  slowish opening
01[09:36] <&Threei} Long Setup:  IWM  .70 break hl
01[09:36] <&Threei}  If holds  .60
[09:36] 01[09:36] <&Threei}  tbell :)
01[09:37] <&Threei}  change to .60 break
01[09:37] <&Threei}  If holds  .50
01[09:38] <&Threei}  should be ready now
01[09:39] <&Threei}  ctill valid
01[09:39] <&Threei}  still too
06[09:42] * Les smacks Nemo with an alarm clock and a bottle of pills
[09:42] [09:42] 01[09:42] <&Threei}  no go
[09:42] 01[09:45] <&Threei}  rinse
01[09:46] <&Threei}  somg
[09:46] 01[09:47] <&Threei} Long Setup:  .10  break hl
01[09:48] <&Threei} Long Setup:  LVS  '.10 break hl
[09:48] 01[09:48] <&Threei}  If holds  57
01[09:50] <&Threei}  Invalidated
01[09:51] <&Threei} Short Setup: JPM  54 break
01[09:51] <&Threei}  If holds  .10
[09:54] 01[09:54] <&Threei}  well?
01[09:54] <&Threei}  will you ever lose that sipport JPM?
[09:55] [09:55] 01[09:55] <&Threei}  and drop like a brick in the empty well, with appropriate sound at the end
01[09:56] <&Threei}  you are free to choose between splash and thud
01[09:56] <&Threei}  I'll take either
01[09:56] <&Threei}  or both
[09:57] [09:58] 01[09:58] <&Threei}  gap'n' stall... hate it passionately
[09:58] [09:59] [09:59] [10:00] 01[10:00] <&Threei}  *(US) JUN NAHB HOUSING MARKET INDEX: 52 V 45E
01[10:00] <&Threei}  JPM is two-sided now
01[10:02] <&Threei}  come on
[10:04] [10:06] 01[10:07] <&Threei} Short Setup: CAT  .65 break hl
01[10:07] <&Threei}  If holds  .75
01[10:09] <&Threei}  Invalidated
01[10:12] <&Threei} Short Setup: WLT  .95 break hl
01[10:12] <&Threei}  .c .05
01[10:12] <&Threei}  If holds  .05
[10:12] <+cc_9} Need an SPY drop below 164.625
[10:12] [10:13] [10:13] <+cc_9} too strong for now
[10:13] <+cc_9} almost no fades
01[10:13] <&Threei}  WLT valid
01[10:15] <&Threei}  give us good panic WLT
[10:15] 01[10:16] <&Threei}  no but there are smart asses
[10:17] 01[10:17] <&Threei}  no go
[10:18] [10:18] <+cc_9} SPY sideways near session highs...yawn
[10:18] 01[10:19] <&Threei} Short Setup: GDX  .96 break
[10:20] <+cc_9} looking for 9.45 break out NUGT for long scalp, currently sitting @ LOD/support from Friday
[10:20] [10:21] <+cc_9} Come on SPY...give back some of that gap already
[10:22] [10:26] [10:27] <+cc_9} 164.68 is the # to watch for any pullback
[10:27] [10:27] 01[10:28] <&Threei}  .955 here
01[10:28] <&Threei}  no position yet for me
[10:28] [10:28] <+cc_9} 13mins for a mini fade, 2 mins to get back to square 1
[10:28] 01[10:28] <&Threei}  but as SPY starts climbing, GDX should trigger and die
01[10:28] <&Threei}  die, I said... horrible slow death
01[10:28] <&Threei}  or better fast
[10:28] [10:29] [10:29] [10:30] [10:30] [10:30] [10:30] 01[10:31] <&Threei}  Ron... so, you are with me when I move to that last resort on Titan, I take it?
[10:31] [10:32] [10:32] [10:32] [10:32] [10:32] [10:32] [10:32] 01[10:32] <&Threei}  cool beans, he will help plow the soil
01[10:33] <&Threei}  nemo will be our General Convincer when it comes to who takes up dirty work
[10:34] [10:34] [10:34] 01[10:34] <&Threei}  lol
[10:34] [10:35] [10:35] [10:35] [10:35] 01[10:37] <&Threei}  see, nemo can be sophisticated
[10:37] 01[10:37] <&Threei}  the best kind
01[10:37] <&Threei}  soft and gentle cruelty, Torquemada
01[10:38] <&Threei}  Invalidated  GDX
[10:38] <+cc_9} cc_9 looking for 9.45 break out NUGT for long scalp, currently sitting @ LOD/support from Friday
[10:38] <+cc_9} Baby bounce for now, looking for 9.50s bid
[10:39] 01[10:40] <&Threei} Short Setup: FCX  .70 break
01[10:40] <&Threei}  If holds  .80
[10:41] <+cc_9} NUGT 9.50s bid, le'go
[10:44] [10:44] [10:45] <+cc_9} Scaling out NUGT
[10:45] [10:45] [10:45] 01[10:46] <&Threei}  let's change FCX to .75 break if stays under .80
[10:46] [10:46] [10:46] [10:46] [10:48] [10:48] <+cc_9} All out NUGT 9.54/55 from 9.40
[10:48] [10:48] [10:48] [10:49] [10:49] 01[10:49] <&Threei}  FCX valid
[10:49] 01[10:49] <&Threei}  lol stev
[10:52] [10:53] [10:53] 01[10:53] <&Threei}  take care ese
[10:53] [10:53] 01[10:53] <&Threei}  ok GDX
01[10:53] <&Threei}  FCX
01[10:53] <&Threei}  be a doll
01[10:54] <&Threei}  lose .70, drop to .55 and make our morning shine
[10:54] [10:55] 06[10:55] * Les slaps Will49 around a bit with a large trout
[10:55] [10:55] [10:56] [10:56] 01[10:56] <&Threei}  SPY says no, stev
[10:57] [10:57] 01[10:58] <&Threei}  if can't break .90, probably
[10:58] [10:59] [10:59] <+cc_9} feels like one of those slow grind up days...
[11:00] 01[11:02] <&Threei}  didn't manage to the end
[11:02] 01[11:02] <&Threei}  bored me to tears
[11:02] 01[11:03] <&Threei}  was looking forward to watch it... didn't expect it to be this unexciting
[11:03] 01[11:03] <&Threei}  no
01[11:03] <&Threei}  O'Reily's book is great
01[11:03] <&Threei}  enjoyed it very much
[11:03] [11:03] [11:03] [11:03] [11:04] 01[11:04] <&Threei}  but movie somehow put me to sleep
[11:04] 01[11:04] <&Threei}  you may find it different, who knows
01[11:04] <&Threei}  tastes, you know...
[11:05] [11:05] [11:05] 01[11:06] <&Threei}  this was another reason for my disappointment... such team... Day-Lewis, Spilberg
01[11:07] <&Threei}  ok FCX
01[11:07] <&Threei}  time for death
[11:07] 01[11:07] <&Threei}  could be...
[11:07] 01[11:08] <&Threei}  life is bane of most things in life
01[11:08] <&Threei}  1:1
[11:08] 01[11:08] <&Threei}  yw
[11:10] [11:10] <+cc_9} sideways, pop, sideways pop, grind all day
[11:10] <+cc_9} lame Monday
[11:11] [11:13] 01[11:14] <&Threei}  hl, yes
01[11:16] <&Threei} Long Setup:  CAT  .30 break hl
01[11:16] <&Threei}  If holds  .20
01[11:19] <&Threei}  Invalidated
[11:22] 01[11:26] <&Threei} Short Setup: LVS  .30 break hl
[11:28] [11:29] 01[11:29] <&Threei}  worth a shot, especially if holding .15
01[11:29] <&Threei}  (US) Former FHFA chair James Lockhart: market share for Fannie and Freddie remains unhealthy; mortgage market still needs Govt support- Does not see any way Fannie debt to US will be repaid. - James Lockhart is now the Vice Chair at WL Ross & Co LLC; As FHFA chief he was the lead regulator of Fannie and Freddie.
[11:30] 01[11:32] <&Threei} Long Setup:  TZA  .85 break hl
[11:32] 01[11:32] <&Threei}  If holds  .75
01[11:33] <&Threei}  actually TZA full lot
01[11:33] <&Threei}  Invalidated  LVS
[11:34] <+cc_9} my fav is when the price gets to your avg price @ the ask and stays there, then goes back to leave you negative, each time it tests it its just to piss u off
[11:35] <+cc_9} its by far the best feeling...
[11:35] [11:35] [11:35] 01[11:36] <&Threei} Short Setup: LVS  .40 break hl
01[11:36] <&Threei}  If holds  .50
[11:36] <+cc_9} never mind, im getting my SDS fills finally
[11:37] [11:38] 01[11:40] <&Threei}  no go LVS
01[11:40] <&Threei}  I hate mondays
[11:41] 01[11:42] <&Threei}  now if SPY drops, LVS will turn into a rinse
[11:42] 01[11:42] <&Threei}  and make a second somg of the day
[11:42] 01[11:42] <&Threei}  well, if it doesn't proceed to be a winner now, it will be a legitimate stop
01[11:42] <&Threei}  rinse is stopping you out, then working
[11:43] [11:43] [11:43] 01[11:44] <&Threei}  TZA... you need to give us 1:3 to fix this day... can you do this?
[11:45] [11:45] [11:46] [11:47] [11:48] [11:48] [11:48] [11:49] [11:49] [11:49] [11:49] [11:49] [11:49] [11:49] [11:50] [11:50] [11:50] [11:50] [11:50] [11:50] [11:50] [11:51] [11:51] [11:51] [11:51] [11:51] [11:52] [11:52] [11:52] [11:52] 01[11:53] <&Threei}  Caesar salad was my first thought but then I decided, without 5 strips of bacon it couldn't even be called a salad...
[11:53] [11:54] [11:54] [11:54] [11:55] [11:55] [11:55] [11:55] [11:55] [11:56] [11:56] 01[11:56] <&Threei}  just tzar
[11:56] [11:57] [11:58] [11:58] [11:58] [11:58] [11:59] [11:59] [11:59] [11:59] [12:00] [12:00] [12:00] [12:00] [12:00] [12:00] [12:00] [12:00] [12:01] [12:01] [12:01] [12:01] [12:01] [12:02] [12:02] [12:02] [12:02] [12:03] [12:03] [12:03] [12:03] [12:03] [12:03] [12:04] [12:04] [12:04] [12:05] [12:06] [12:07] [12:08] [12:08] [12:08] [12:08] [12:08] [12:08] [12:09] [12:09] [12:09] [12:09] [12:09] [12:09] [12:09] [12:10] [12:10] [12:10] [12:11] [12:11] [12:11] [12:11] [12:12] [12:13] [12:13] [12:13] [12:13] [12:14] [12:14] [12:14] [12:15] [12:15] [12:15] [12:15] 01[12:15] <&Threei}  C works nicely
[12:15] [12:15] [12:16] [12:16] [12:16] [12:16] [12:17] [12:17] [12:17] [12:17] [12:17] [12:18] [12:18] [12:18] [12:18] [12:18] [12:19] [12:19] [12:19] [12:19] [12:19] [12:19] [12:19] [12:20] [12:20] [12:20] [12:20] [12:20] [12:20] [12:20] [12:20] [12:20] [12:20] [12:21] [12:21] [12:22] [12:22] [12:22] [12:23] [12:23] [12:23] [12:23] 01[12:23] <&Threei}  wtg
[12:23] [12:25] [12:25] [12:25] [12:25] [12:25] [12:25] [12:25] [12:25] [12:25] [12:26] [12:26] [12:26] [12:26] [12:26] [12:26] [12:26] [12:27] [12:27] 01[12:27] <&Threei}  rofl
[12:27] [12:27] [12:28] 01[12:28] <&Threei}  OK TZA... 1:1
[12:28] [12:34] [12:35] [12:35] [12:36] [12:36] [12:36] [12:37] [12:37] [12:37] 06[12:37] * Les slaps nemo around a bit with a large trout
[12:38] [12:38] [12:38] [12:39] 01[12:39] <&Threei} Long Setup:  FAZ  .90 break
01[12:40] <&Threei}  If holds  .83
[12:40] 01[12:41] <&Threei}  meh
01[12:47] <&Threei} Short Setup: GDX  .05 break
01[12:48] <&Threei}  If holds  .10
01[12:59] <&Threei}  2 cents ever 15 min, we might get 1:1 this millenia
[12:59] 01[13:01] <&Threei}  now you have an idea about movie Lincoln
[13:02] 01[13:07] <&Threei}  wow... 5 cents
[13:09] 01[13:09] <&Threei}  that's not my reco
01[13:10] <&Threei}  mmendation
01[13:10] <&Threei}  lol
[13:10] [13:10] 01[13:10] <&Threei}  that's ese and will
[13:10] [13:10] 01[13:10] <&Threei}  no, I was talking about Inness and Gun
[13:10] [13:10] [13:11] [13:11] [13:11] [13:11] [13:12] [13:12] [13:12] [13:14] [13:16] [13:17] 01[13:17] <&Threei}  if remains under .60, yeah
[13:18] <+cc_9} *yawn*
[13:19] [13:20] [13:22] [13:22] 01[13:24] <&Threei}  no
[13:27] [13:32] [13:32] 01[13:37] <&Threei}  yes
01[13:39] <&Threei}  considering how they move today, taking profit under 28 would probably have been better idea
01[13:48] <&Threei}  GME us ready
01[13:48] <&Threei}  is
[13:50] 01[13:50] <&Threei}  lol
[13:53] [13:54] 01[13:54] <&Threei}  don't have aptience for a trigger?
01[13:54] <&Threei}  bioth are valid
[13:55]

Nemo's Findings 6/16/2013

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

Well, volatility seems to have returned, which is great for daytraders.  However, for the swingers, they're kinda' in no man's land...it's "Hurry up, and wait!"

I've given you two views I use and it's a bit simpler breaking out the Moving Average and Fibonacci stuff from the trend, price level, and volume anaylsis.  In the first you can see that daily volume has generally been above average, which argues potentially that we are seeing distribution.  As you can see in the first, the 50 day MA has been the bottom for awhile.  Thursday morning the SPY touched it and never looked back basically finishing the week retracing about half the move on Thursday, but finished off the lows.  You see three fibonacci measurements.  The first on the left is the run from the last swing low to the market high.  The second one from the left, is a projection of the previous from this most recent set of lows as to where price could go in the bull case., and the third is a retracement from the highs, to the most recent lows.

In the second chart we can see that last week lows and this weeks bounce off the 50 maintained a parallel with the trend line at the top of the channel.  You can see there is still a small gap from the Monday close.  The blue rectangles are price gaps.  The red rectangles are high-volumes done at that specific price level, which are likely to be inflection areas should price retreat there.  The green lines are classic, horizontal price levels...well...call them price levels I think I see.  

Looking at SPY we have a higher low where the Wed./Thu. candle combination is considered a bullish engulfing pattern, where Friday's action consolidated in the upper half of Thursday's move, all maintaining the channel slope...I lean toward bullish. 

Interestingly enough, the IWM hasn't touched the 50 yet and volume hasn't been extraordinary:

 

Nor have the finnies, although the volume has been a bit more consistently above average:

One would have to think that the "risk on" index, IWM would start coming in before the SPY and the financials would have to break down, although the visual level of correlation between the spy and the financials must be damn close to 1.


The week that was:

You gotta' love Thursday's action...spy drops to the 50 day SMA then bounces north for the rest of the day, taking the other indexes with it...

 The week that is:

One could argue that all of them look a tad bearish on these shorter term charts, but let's see what happens in Asia and Europe on Sunday night.  Really, and I've said this before, bearish, bullish...meh...price action will tell.  The rest is arguably a waste of mental energy.  Figure out what you're going to do if price action brings you to a certain level and the setups tell you to go or not go. 

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Markets Remain Volatile as the June FOMC meeting looms

- Market volatility is not letting up and cross currents continue to make for dramatic moves in a broad range of asset classes. Japan and handicapping future Fed moves remain the major catalysts. The Nikkei225 saw another very steep decline mid week as traders reacted with disappointment to the BoJ not taking more efforts to pump up stimulus, while USD/JPY is back trading with a 94 handle, more or less where it was when Abenomics was launched earlier this Spring. In Europe, there was more tepid economic data, although it appears that the German Constitutional Court may hand down a ruling favorable to German participation in the critical OMT eurozone backstop in September. In the US, there was another handful of somewhat disappointing economic numbers and S&P raised the US sovereign outlook to stable from negative. The dollar continues to underperform against both the euro and the yen, even as the yield on the 10-year benchmark bond pushed out to 14-month highs around 2.27% early in the week. For the week, the DJIA fell 1.2%, the S&P500 declined 1% and Nasdaq lost 1.3%.

- Perception of a soft patch in the latest US economic data and whispers out of the Fed have decisively shifted market sentiment regarding the Fed's willingness to taper QE asset purchases. The weak three-month average in non-farm payrolls, the terrible May ISM manufacturing data, the retreat in the U of Michigan sentiment index and the weakening trend in retail sales suggest the Fed has much less evidence in favor of a taper now than they did a month ago. On Thursday, the WSJ's Hilsenrath forecasted a potentially dovish Fed statement next week in which they will likely emphasize interest rates are to stay low until well after they begin calibrating quantitative easing. Newly moderate FOMC voter Bullard said that weak inflation data could possibly argue for prolonging QE asset purchases.

- Japan's Nikkei225 put in another week of highly volatile trading. Unhappiness with the third leg of Japan PM Abe's reform program was fresh in many minds heading into the BOJ rate decision on Tuesday. Expectations were that the BoJ would extend its 0.1% fixed-rate lending facility to banks from one year to two, although the bank held back and did not act to restrain rising rates, prompting a move down on Tuesday. But the big slide came on Thursday as jittery Chinese investors came back from the Dragon Boat holiday and sold off equities hard; the Nikkei dropped 6.4%, putting the index back in bear market territory from the late May highs for the second week in a row.

- The China May economic data out last weekend was somewhat disappointing. The trade numbers were way below expectations, although analysts caution that the shortfall is mostly due to a correction of inflated exports to Hong Kong from the last several quarters. Weak inflation readings were unsettling as well, although they may give the PBOC some additional flexibility on rates. Chinese markets were closed for the Dragon Boat Festival for the better part of the week.

- On Monday morning S&P raised the US sovereign outlook to stable from negative. The firm commented that the improved outlook was due to its analysis that there was less than 1-in-3 chance for a ratings downgrade in the near term, thanks to the better economic outlook and more signs that the Democrats and Republicans will be able to reach compromises on the most important fiscal issues.

- India's Apollo Tyres reached a deal to acquire Cooper Tire for about $2.5 billion, at $35/share in cash. The deal would make the combined entity the world's seventh-largest tire maker. Sprint said it had ended its talks with Dish and gave the company until June 18th to put up or shut up. In the meantime, the company said it would proceed with the deal with Softbank, which was upped to $21.6B from $20.1B. Note that press reports suggest that Google might try to help Dish sweeten its bid.

- The euro continued its month-long ascent this week, until the EUR/USD encountered resistance around the 1.3380-1.3390 zone on Thursday. The German Constitutional Court heard arguments about the constitutionality of German participation in the ECB's OMT program early in the week. Comments out of the two-day session led many to believe that the court would not block participation, especially after Justice Vosskuhle said the OMT's strict conditionality could draw a clear line between fiscal and monetary policy. Note that the Bundesbank's Weidmann reiterated his strong critiques of the OMT program at the hearings, while Asmussen offered a defense of the program.

- The unwind of the USD/JPY long trade continued apace. Like the euro, the yen closed out a fourth consecutive week of strength against the dollar, briefly testing below the 93 handle on Friday, the USD/JPY weakest level in two months - recall that the late May high in USD/JPY was around 103.54. Unhappiness with the third leg of Japan PM Abe's reform program was compounded by disappointment that the BOJ did not extend its 0.1% fixed-rate lending facility to banks from one year to two, pushing even more money out of the Nikkei and into JPY. Dollar softness was also likely due to traders betting on a more dovish Fed ahead of next week's FOMC meeting.

- The India and Turkey central banks have dived back into the FX intervention game. The Turkish Central Bank has begun direct market intervention to fight "excessive FX volatility" after the TRY sank to its weakest level against a euro/dollar basket since October 2011. The bank held five FX auctions this morning and managed to stabilize USD/ TRY for the moment around 1.8900. India's policies are more opaque: there were rumors of RBI intervention as USD/INR looked to test the key 60 level and then dropped back to the 58 handle. An Indian government official stated that "steps will be taken" to curb rupee volatility if needed, but said the recent decline was due to "debt outflows."




TradeTheNews

June 14 2013

Very nice end to the week with 3 1:3ers and something else on top. One made Catch of the Day, having benefit of being found by a room member.

Session Time: Fri Jun 14 00:00:00 2013
[09:09] {jdetente} morning guys...
01[09:10] {&Threei}  morning jd
[09:10] {stevw} g'mornin lads
01[09:10] {&Threei}  stev :)
[09:11] {RonS} howdy everyone
01[09:11] {&Threei}  ron :)
[09:11] {backman} gm
01[09:12] {&Threei}  bman :)
[09:13] {RonS} hearing oil on a run...Syria?
01[09:13] {&Threei}  most likely... talk about WH considering no fly zone
[09:14] {Les} hello
01[09:14] {&Threei}  les :)
[09:19] {Will49} gm
01[09:19] {&Threei}  will :)
[09:21] {dino} gm
01[09:21] {&Threei}  dino :)
[09:24] {ese} gm
[09:24] {Alexs} gm
01[09:26] {&Threei}  ese, alex :)
[09:26] {nemo} could be one big consolidation day today
[09:27] {dptl} gm
01[09:28] {&Threei}  dp :)
[09:28] {Les} then again, you could be hit by lightning Nemo
[09:29] {RonS} and it might rain...
[09:29] {nemo} you have two big trend days in a row and it's a Summer Friday
[09:29] {RonS} Obama is authorizing lethal military aid to Syrian rebels under a classified order | http://bloom.bg/12tgxQr
[09:29] {nemo} probabilities
[09:30] {Les} fund raising Ron?
[09:31] {Les} ah missed the 2nd line of your post
01[09:32] {&Threei} Long Setup:  GDX  .82 break
01[09:32] {&Threei}  If holds  .75
[09:32] {+cc_9} Morning Gents
01[09:32] {&Threei}  cc9 :)
01[09:33] {&Threei} Long Setup:  FCX  .75 break
01[09:33] {&Threei}  If holds  .70
[09:35] {+cc_9} Scaling some SDS on 163.80 break
01[09:36] {&Threei}  1:1
[09:36] {nemo} in or out 9?
[09:36] {+cc_9} Scaling in once we break 163.80
[09:36] {dino} tm sm l .88
[09:36] {+cc_9} i dislike opex days, a lot.
[09:37] {robbers} Out FCX, thanks Vad.
[09:37] {jdetente} 1:@
01[09:37] {&Threei}  1:2
01[09:37] {&Threei}  yw
[09:38] {jdetente} out as well. Thanks Vad
[09:38] {dino} ete sm l .60
01[09:38] {&Threei}  1:3, over and out
01[09:38] {&Threei}  :)
[09:39] {Les} missed .05 took .99 ty
01[09:39] {&Threei}  not too shabby for 5 cents risk
[09:39] {Will49} nice start tks vad
[09:41] {+cc_9} EAC is an illiquid POS, but 15/60min charts look purdy
[09:41] {dino} ete stop .39 -.21
[09:43] {dino} re-load ete .50
[09:45] {+cc_9} EAC not bad for a dog
[09:46] {+cc_9} barely 100k volume but pushing $0.50+
01[09:48] {&Threei} Short Setup: GDX  .60 break
[09:49] {Les} short index drops to yesterdays low MIGHT produce workable db's
01[09:51] {&Threei} Long Setup:  CAT  .90 break hl
01[09:52] {&Threei}  If holds  .80
[09:52] {ese} dino......you gonna get a chance to see any of the US Open this weekend
[09:54] {dino} hopefully. its only about 120 miles from me
[09:55] {ese} that would be fabulous......wish I had that opportunity
[09:55] {ese} have you ever played Merion
[09:55] {dino} no, would like to
[09:55] {Les} sds .52 to .59 watching if it returns to test support
[09:56] {Les} would like a DB
[09:56] {jdetente} see ya CAT
01[09:56] {&Threei}  *(US) JUN PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 82.7 V 84.5E
[09:57] {Les} rest SDS stopped flat looking for potential new entry
[09:58] {Les} looks like market rip coming
[09:58] {jdetente} the train coming back to the station
[09:58] {+cc_9} did someone say "train" ?
[09:58] {Les} hehe
[09:58] {jdetente} hehe
[09:59] {Les} yeh ursine sodomy train departing
[09:59] {jdetente} I believe the train had some fancy name
[09:59] {ese} looks like michigan numbers not having any effect on the mrkt
[10:00] {Les} SDS low of yesterday here
[10:00] {Les} watching if holds .40 for potential .50 break
[10:02] {Les} oh boy
01[10:02] {&Threei}  frikin CAT
[10:02] {+cc_9} Les, SDS does not have any "support" or "resistance" per say, as it just tracks SPY 1:1
[10:02] {+cc_9} get your levels from SPY chart when trading SDS (imo)
[10:03] {nemo} going for the gap fills
[10:03] {Les} oh great a second Nemo
[10:03] {dino} ete to .95
[10:03] {Les} yeh right cc
[10:03] {nemo} how many times I told you that Les
[10:04] {dino} out ete .93, slip, +.43
[10:04] {RonS} the buyer of that block on ete at 56.70 drove it down to get that price...
[10:04] {Les} very small handle on 2 day cup in indexes
01[10:04] {&Threei} Short Setup: LVS  .90 break hl
01[10:04] {&Threei}  If holds  57
[10:05] {dino} yuo take it ron?
[10:07] {Les} IWM lower high
[10:08] {+cc_9} If anyone wants a 1:1 inverse for SPY thats cheap : SH
[10:08] {Les} watching IWM as it fails to tackle yesterdays highs and sits on .50 support here
[10:09] {dino} siro drop
[10:09] {RonS} yes ete .58 to .15 +.57 thanks dino
[10:10] {Will49} good one
01[10:10] {&Threei}  L:VS valid
[10:11] {dino} siro sm l .25
[10:13] {backman} LVS good for reentry here?
[10:13] {Les} IWM weakening can SPY Drag it back up
01[10:13] {&Threei}  reentry?
01[10:14] {&Threei}  it never got stopped or reached target
[10:14] {backman} OK got it....thouht it stopped at .99
[10:14] {+cc_9} Dog with fleas, but good dog nonetheless }} http://img211.imageshack.us/img211/8572/4q6t.jpg
[10:15] {+cc_9} Like I said, EAC was illiquid, but that reversal chart was pretty nice.
01[10:15] {&Threei}  stop is above 57, right?
[10:15] {backman} gpt ot
[10:16] {RonS} ?? bman...
[10:16] {Les} IWM fails backtest of .50 resistance
[10:16] {Les} long SDS .42
01[10:16] {&Threei}  come on Ron... that was "got it" typed with knees :)
01[10:16] {&Threei}  easy to read (if you tyoe the same which is my case)
[10:17] {RonS} lol
[10:17] {Les} shoudl be in tza not sds
[10:17] {+cc_9} Les, short term on 1min support  164.35, after that 164.10 and 163.90
01[10:18] {&Threei}  1 cent to 1:1 LVS... don't do it
[10:18] {jdetente} yes LVS don't be a son of a motherless goat
01[10:18] {&Threei}  right
01[10:19] {&Threei}  LVS felt burning shame and dropped to its knees
01[10:19] {&Threei}  pouring ashes on its head
[10:19] {jdetente} hehe
06[10:19] * pragmatic :)
01[10:20] {&Threei}  1: frikin 1
[10:20] {Les} yeh I c it out sds flat want another run at the top
[10:20] {Les} indexes
[10:21] {dino} relax les. you're thinking too much
01[10:22] {&Threei}  and it rarely ends well
[10:22] {jdetente} don't go into manic mode Les
06[10:23] * Les smack himself with 4X2 for being reminded not to think, seeks whisky bottle from cupboard
01[10:23] {&Threei}  last time I had a thought, migraines wouldn't stop for weeks
[10:23] {+cc_9} SPY flushes down to yesterday's closing price before 10:30AM
[10:24] {+cc_9} aka 164.20
[10:24] {backman} short jpm .72
[10:24] {Les} meh
[10:25] {robbers} Out LVS, thanks.
01[10:25] {&Threei}  1:1
01[10:25] {&Threei}  yw
01[10:26] {&Threei}  1:2
[10:26] {+cc_9} and there goes SPY :D, Les mad he sold his SDS
[10:26] {jdetente} alright LVS you're off the SoMG list for now
[10:27] {Les} stop talking to me
[10:27] {Les} :)
01[10:27] {&Threei}  {LVS} oh thank you, thank you! WANT ME TO GIVE YOU 1:3 FOR THIS?
[10:27] {+cc_9} check the clock, check SPY pps :)
[10:27] {+cc_9} all aboard the TRAIN
[10:27] {+cc_9} lol
[10:28] {Les} wasn't a 111 setup so I should know better
[10:28] {Les} TZA was though, which was what I was basing it off
[10:28] {Les} db down to .75 at 10am
[10:28] {+cc_9} naaaaaaaaaaaaaaailed
[10:29] {+cc_9} 10:23 cc_9 SPY flushes down to yesterday's closing price before 10:30AM
[10:29] {Les} u have courage of your convictions using SSO here?
[10:29] {+cc_9} im dumping SDS here Les
[10:29] {nemo} you can short sso Les
[10:29] {Les} SOMG CC
[10:29] {backman} out +.10
[10:29] {Les} sigh
[10:30] {Les} oh well at least getting the swing of it
[10:30] {Les} nah Nemo talking of long entry SSO looking for a setup
01[10:31] {&Threei}  good one bman
01[10:31] {&Threei}  clean DBI setup
[10:31] {+cc_9} Les, here is the trade (click) }} http://img259.imageshack.us/img259/5931/fr1p.jpg
[10:31] {backman} thanx....it failed around there yesterday
[10:32] {Les} so my entry was correct then just needed to sit tight gj
[10:32] {+cc_9} Yes, thing about SSO/SDS is you don't have to freak out
[10:32] {+cc_9} they are slow movers and give you plenty time and space to scale
[10:32] {+cc_9} no halt, no sudden crash etc...1:1 SPY but cheaper
[10:33] {Les} yeh better training ETF for me
[10:33] {+cc_9} too big a pullback ? scale SSO dump the quick bounce. Over extended run ? Scale SSO and dump the quick profit taking/fade
[10:34] {+cc_9} TNA/TZA same idea but too dangerous to learn on (3:1 speed IWM)
[10:36] {Alexs} fb long .40?
[10:36] {+cc_9} somg ?
[10:36] {Les} er... typo CC :)
[10:36] {+cc_9} ugh, had me spend 3 mins on urban dictionary
01[10:36] {&Threei}  yes alex, if SPY helps
[10:37] {Les} hehehe slip of the keyboard sorry
01[10:37] {&Threei}  cc9... SoMG is our latest addition to a room slang
01[10:37] {&Threei}  Son of a Motherless Goat... applied to stiocks that rinse our entries
[10:37] {Les} SDS cup and handle .60 entry
[10:38] {Les} holding .50
[10:38] {jdetente} it's from the Three Amigos cc9
[10:38] {+cc_9} hehe, SPY flush on time
[10:38] {jdetente} LVS delivered
[10:39] {+cc_9} too bad i also dumped my SDS Les
[10:39] {+cc_9} left about 400 gorillions on the table
[10:39] {Les} .60 is SSO premarket range area
[10:39] {dino} out vsiro .95, -.30
[10:40] {nemo} 163.85 WPP spy and channel bottom
01[10:40] {&Threei}  1:3
01[10:40] {&Threei}  life is good today
[10:40] {jdetente} hit 1:4 even but I was already out
[10:40] {Will49} out 1:3 tks vad
[10:40] {nemo} finnies bounce at bottom of channel
01[10:41] {&Threei}  :)
[10:41] {jdetente} nevermind misread the print
[10:41] {Les} TLT sitting on VWAP something to watch
[10:43] {dino} fslr drop
[10:46] {dino} sm l .74
[10:46] {+cc_9} FSLR diluting from its latest news
[10:47] {+cc_9} Les, still in your SDS ?
[10:47] {Les} god no, over thought the process and stopped out too early
[10:48] {Les} long sso .52 small
[10:48] {+cc_9} ok.
[10:49] {Les} but don't listen to me :) TLT held the vwap and bounced
[10:49] {Les} .05 stop
[10:49] {+cc_9} you are trading SSO with stop ?
[10:49] {Les} .45 stop
[10:49] {+cc_9} lol
[10:49] {+cc_9} So you are not actually scaling
[10:49] {Les} god no
[10:50] {Les} but I appreciate the reason you do
[10:50] {backman} long tza .28...
[10:51] {Les} no go
[10:51] {Les} dunno if yesterdays rally was head fake but looking like it
[10:52] {RonS} like nemo said...consolidation day is all...
[10:52] {Les} yeh so give me support to work with
[10:53] {Les} FAS at pivot waiting on IWM at 98 waiting on SPY
[10:53] {RonS} ok, let me find the computer's phone numbers...
[10:53] {Les} hehehe
[10:54] {backman} out +.07
[10:57] {+cc_9} scaling some SSO .33 , tgt SPY 163.90
[10:58] {+cc_9} added .23
[10:58] {Les} in this case I look for a quarter setup  cc
[10:59] {Les} .25 cross holding .15
[10:59] {+cc_9} gotcha
[10:59] {nemo} at MPP spy daily pivot finnies just above IWM
[10:59] {Les} SPY .50 is clear support too
[11:00] {Les} getting ugly
[11:00] {backman} TZA going nuts
[11:00] {Les} hope yer still in it bman
01[11:01] {&Threei}  and I don't even want to look at LVS
[11:01] {RonS} aif .50 break if hold .40?
[11:01] {RonS} aig
01[11:02] {&Threei}  chart is right
01[11:02] {&Threei}  SPY should be able to bounce enough to support it
[11:05] {Les} tlt big vol break. lose .50 and it might be time for equities
[11:07] {+cc_9} loaded SSO
[11:07] {+cc_9} tgt SPY unchanged 163.90
01[11:08] {&Threei}  that translates in SSO .60 roughly
01[11:08] {&Threei}  AIG 1:1
[11:08] {+cc_9} yup
[11:09] {Les} took .15/.05 SSO but scalped looked for the DB not sure gonna get it. hammer type candle at :06 might have been 2nd bottom
[11:10] {nemo} surprise surprise this swing low on finnies iwm and spy was 38.2 retrace of yesterday
[11:11] {Les} here's tlt setup if anyone looking for a trade
01[11:11] {&Threei}  good spot on AIG Ron :)
[11:11] {RonS} natchi Mr. Fibbie
[11:11] {RonS} yep
[11:12] {+cc_9} scaling out SSO on 163.75 break
[11:12] {dino} siro sm l .71
[11:14] {dino} wlk spike
[11:16] {dino} wlk sm s .05
[11:17] {+cc_9} Les, this is how I scale (click) }}} http://img705.imageshack.us/img705/7863/r756.jpg
01[11:19] {&Threei}  (US) WSJ's Hilsenrath: one thing has changed: Fed wants to stress tapering QE and tightening rates are two separate tracks - CNBC interview- Fed sending a very nuanced message; there is a risk that people are taking the wrong message from all of this talk about cutting back bond buying (i.e. tapering).
[11:19] {+cc_9} (yes, I should have added even more at 7310 but I held off in case of a bigger flush)
[11:20] {dino} tm gap fill
[11:21] {Les} It's an interesting SOP. I have to watch the index with the ETF I am using and coordinate the setup from that. So SPY .50/.40 was SSO .15/.05
[11:21] {nemo} wow...I've been saying that for years and it finally sinks in
[11:21] {Les} I seek out those key quarter numbers with support zones when Nemo can provide them. Still work in progress
[11:21] {nemo} Les, I gave you the spreadsheet
[11:22] {Les} don't use it dude
[11:22] {Les} got enough on my plate already
[11:22] {nemo} it's automatic...you just plug in the ticker and it gives you updated info
[11:22] {RonS} can lead a kangaroo to drink, then he punches you in the nose...
[11:22] {nemo} change the dates on a weekly basis and then monthly when necessary, done...calculates for you
[11:23] {Les} then have to go through charts redoing the frikin lines, which FSC may or may not remember
01[11:23] {&Threei}  rofl
[11:23] {Les} funny Ron
[11:23] {Les} happy to have someone around actively trading index ETF's
[11:23] {dino} cov wlk ave flat
[11:24] {+cc_9} There goes SPY bouncing Les.
[11:24] {dino} tricky day so far
[11:24] {dino} beasty boys market
[11:24] {+cc_9} Idea still intact. Market drop, slow scale, sell the bounce
01[11:24] {&Threei}  1:2
[11:24] {+cc_9} over extended run, short slow scale etc...
[11:25] {+cc_9} 10:56 cc_9     tgt SPY 163.90
[11:25] {+cc_9} ;)
[11:25] {RonS} aig .48 to .74 thanks 3i  +.26
[11:25] {Les} accredited as security guard on Wednesday so got weekend work lined up. Just wanna show up to work without rejigging charts once a week
[11:25] {nemo} it will likely try to test 164 vwap just above
01[11:25] {&Threei}  your find, your credit
[11:26] {RonS} ...your principles...
01[11:26] {&Threei}  1:3, out
[11:27] {+cc_9} Les, a little trick : SSO is priced at exactly 1/2 SPY's pps. So the movement you look for is 1:1 as far as penny increments. (both SPY and SSO are down the same amount in dollar value -0.44)
[11:28] {+cc_9} but of course, the important math is the % leverage.
[11:30] {Les} well no deviation from VAd's approach for me. Define it, hold it, enter and exit accordingly
[11:31] {Les} but when you're sniffing around for an entry I know to look myself
[11:31] {+cc_9} tgt was 163.90. SPY max on that bounce was 163.86
[11:32] {+cc_9} sorry guys, i misled you
06[11:32] * Les slaps cc_9 around a bit with a large trout
[11:32] {+cc_9} lol
01[11:32] {&Threei}  there goes your street cred
[11:33] {Les} GDX stopped at vwap here. can't define a setup on it yet
[11:36] {+cc_9} hey, off by $0.04, ill take that anyday :D
[11:37] {+cc_9} either or, another chance to load up on that last drop
[11:37] {+cc_9} and THERE is 163.90 !
[11:38] {+cc_9} ill eat that trout now Les.
[11:39] {dino} twc spike
[11:42] {RonS} Time Warner Cable $TWC said to not be interested in Charter
[11:45] {dino} fslr stop .44, -.31
[11:48] {+cc_9} Detroit Defaulting
[11:48] {jdetente} there's a surprise
[11:48] {+cc_9} market thinks so
[11:48] {dino} funny, during obummer's campaign he bragged about detroit coming back
[11:48] {jdetente} I had to spend half of last year in that pos city
[11:49] {jdetente} people there were really nice but it's like being in a bombed out war zone
[11:49] {dino} no desire to go there
[11:50] {jdetente} I worked for Quicken Loans last year and had to split time there...
[11:50] {RonS} ya dino...pats of DC close enough...
[11:50] {RonS} parts
[11:50] {dino} yeah, same w/parts of philly
[11:51] {Les} looking for new long setup
[11:52] {+cc_9} SPY wondering if this news out of Detroit is good or bad news
[11:52] {RonS} most hated cities here:  1. Omaha 2. Philly 3. Little Rock
[11:53] {ese} hated for what
[11:54] {RonS} wprst landcape ever seen:  eastern new mexico/West Texas....all should be in one state
[11:55] {RonS} creepy/uncomfortable places ese...plus since been in 150 cities approx...a comparative...
[11:55] {ese} hmmmmm
[11:56] {ese} L irm .85
[11:56] {Les} IWM works partialling from .00 entry
[11:56] {+cc_9} Hey Les
[11:57] {+cc_9} This one for you (click) }}} http://img545.imageshack.us/img545/4317/4qs.jpg
[11:57] {+cc_9} :D
[11:57] {Les} gj saw it
[11:57] {Les} preferred using IWM round number
[11:58] {Les} IWM resistnace is .20 let's see if market puke is finished
[11:58] {+cc_9} all good.
[11:59] {RonS} twc going again...
[11:59] {dino} chtr spike
[11:59] {Les} got off 1:2 iwm at .19
[11:59] {Les} holding last piece for breakout
[12:01] {dino} twc sm s .90
[12:03] {dino} twc stop .24 -.34
[12:04] {Alexs} jpm long .40?
[12:05] {+cc_9} All done for today Les }}} http://img855.imageshack.us/img855/2638/0xt0.jpg
[12:05] {+cc_9} will wash rinse repeat Monday.
[12:05] {Les} cheers
01[12:06] {&Threei}  no confident read on this one Alex
[12:06] {Alexs} k
[12:07] {dino} twc sm s .65
[12:07] {Les} do come again cc I enjoy the tutelage :)
[12:08] {dino} twc stopped again. taking a break
[12:10] {dino} rinsed
[12:13] {ese} irm is worth a  watch dino...........have been stalking this for a week.....selling is tapering off and so it should get sucked into that void between 29 and 34 here shortly
[12:14] {ese} went long here at .85...but i have a  hunch it'll make it's run next week
[12:16] {dino} seems to be stuck 28-60-29.05
[12:16] {RonS} guess could happen ese but runup due to reit conversion plan...w/ irs saying conversion must toe 75%+ of rev must come from real estate...must ask why would it?
[12:17] {ese} agreed
[12:20] {ese} well.....when retail sold those shs last friday somebody had to buy them.....anyone making a mrkt in this one is gonna want to make some money so they try to ramp it up i figure......same old story.....might not work but it works most of the time...we'll see......in the mean time i'm up $200.00 bucks
[12:21] {ese} by retail i mean dumb money
[12:22] {ese} just a bigger version of vads scalping techniques
[12:22] {ese} and.............if i'm wrong......the stop loss is in and i've been for a good education
[12:22] {dino} lol
[12:23] {ese} not been....paid
[12:24] {dino} i don't know ese. i just see it stuck in that .40 range
[12:25] {ese} ya you could be right dino.......
[12:26] {dino} never know unless you bet
[12:26] {dino} gl on it
[12:26] {dino} jazz spike
[12:27] {ese} theres still value in this stock though.......i figue it to be about 36.00.....but thats not saying it'll get there
[12:27] {ese} tks
01[12:27] {&Threei}  somewhat unusual flower: http://goo.gl/W5WUi
[12:27] {dino} np....i don't figure values. k.i.s.s. theory
[12:27] {ese} am almost up 300 bucks anyway.......what the hell
[12:27] {ese} i'll take it
[12:28] {ese} lol
[12:28] {Les} vad any way of defaulting links away from IE to Chrome when using Mirc?
01[12:28] {&Threei}  if your default browser is Chrome, mirc should follow it
[12:29] {Les} probably from when I first started using Mirc
[12:29] {Les} wanna change it
01[12:29] {&Threei}  globally on your comp, is Chrome a default browser?
[12:29] {Les} yeh
[12:30] {dino} out siro .22, +.51
01[12:30] {&Threei}  I don't think mirc has its own setting for that, it should open in your default
[12:31] {Les} k
[12:32] {backman} C sitting just above day low
01[12:32] {&Threei}  so's JPM
[12:53] {dino} twc again spike
[12:53] {ese} gotta go all....school picnic today....have a great weekend all cya monday
01[12:55] {&Threei}  take care ese
[12:55] {dino} cya
[12:57] {RonS} wow wlt
01[12:58] {&Threei}  LINE is getting hit
[12:59] {+cc_9} oh wow
[13:03] {RonS} wlt halt?
01[13:04] {&Threei}  yes
01[13:04] {&Threei}  curcuit breaker
01[13:04] {&Threei}  Walter Energy, Inc. Said to have withdrawn $1.55B loan refinancing deal due to market conditions - Forbes (update)- Forbes notes that this is the 10th loan issue to postpone or pull such a transaction due to market volatility.
[13:17] {dino} e drop
[13:19] {RonS} e- lower?
[13:19] {dino} fast drop
[13:19] {dino} looking for bounce
01[13:20] {&Threei}  LINE Linn Energy, LLC Investor relations contact notes that the Berry Petroleum deal remains on track- Blamed the recent stock declines on short sellers and hedgefunds.
01[13:20] {&Threei}  really?
01[13:20] {&Threei}  now I want to short it
[13:20] {RonS} lol
[13:20] {dino} e sm l .58
01[13:21] {&Threei}  every time company starts whining about short sellers, it's a surefire sign of troubles
[13:23] {+cc_9} SPY hanging off a thread, max opex pain
[13:25] {RonS} where do you get that info cc...??
[13:26] {+cc_9} its not a secret that today is options expiration
[13:26] {nemo} wow, so much for consolidation
[13:26] {RonS} but you are effectively picking a pin number...also only weely opex...jus sayin...
[13:27] {RonS} weekly
[13:28] {RonS} all the "free" max pain sites I know of have moved to a sub model...
[13:28] {dino} next fri ops exp, 3rd friday each month
[13:28] {+cc_9} i don't think im following what you are saying Ron
[13:28] {+cc_9} days like today, i track the big active option stocks, like GOOG
[13:29] {+cc_9} and try to guesstimate a possible pin close
[13:29] {RonS} Les is the only guy allowed not to count here cc...:)
[13:32] {+cc_9} whoa
[13:32] {+cc_9} what the hell is this movement on SPY
[13:32] {+cc_9} was it just me getting a flood of data or everyone got these high low wicks on the last 1 min
[13:32] {nemo} this is 50% retrace of yesterday
[13:33] {nemo} plus it's a whole number
[13:33] {RonS} but, the big Q:  is it gluten free?
[13:34] {+cc_9} 163.20 both interim wall and also breakout on 1min
[13:35] {+cc_9} market up @ open, stocktwits "long guys, gotta be long"
[13:35] {+cc_9} market on a fade here, stocktwits "haha who is buying this! 160 wont hold"
[13:36] {+cc_9} ugh...
[13:38] {Will49} what atwit eh?
[13:38] {Will49} a twit..
[13:40] {nemo} indexes flashing long here
[13:40] {+cc_9} SPY this last downtick was exactly $0.01 below previous LOD. must be hunting for stops
[13:41] {nemo} that's what the hft sniffer programs do, look for stops and which way the order flow is leaning, then pushes the other way
[13:42] {jdetente} took another short UVXY similar to yesterday...covering here +.52
[13:43] {+cc_9} SPY just sitting there now, strange
[13:43] {+cc_9} it usually pulls a way or another at these levels
[13:43] {+cc_9} spoke right on time lol
[13:43] {jdetente} well dang what a difference 5 seconds makes
[13:43] {jdetente} haha
[13:44] {nemo} go write a SALT treaty or somethin'
[13:44] {+cc_9} i just want to see 163.20 on the bid SPY
[13:44] {+cc_9} otherwise we get another trap for fresh lows.
[13:44] {nemo} should test that resistance
[13:45] {+cc_9} closing in
[13:45] {+cc_9} knocking
[13:46] {+cc_9} push
[13:47] {+cc_9} 163.20 wall @ work
[13:47] {+cc_9} jesus christ, that wick lol
[13:47] {nemo} 'wall might be a little strong, divider, shoji screen...meh
[13:47] {dptl} long CRM .71 will keep .64 as stop tight
[13:48] {+cc_9} we crush .20
[13:48] {+cc_9} and fly easy
[13:48] {+cc_9} 13:34 cc_9 163.20 both interim wall and also breakout on 1min
[13:49] {nemo} whaddya' mean by "interim"?
[13:49] {+cc_9} short term
[13:50] {dino} e stop .43 -.15
[13:50] {+cc_9} im going to stop all inhalation. Will only breath once 163.20 on the bid
[13:50] {+cc_9} pray for me fellas
[13:51] {jdetente} countdown
[13:51] {jdetente} cc going to pass out
01[13:51] {&Threei}  that blue shade in face can't be healthy...
[13:51] {+cc_9} ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
[13:51] {nemo} call me when you need an exorcism
[13:51] {jdetente} he's dead
[13:52] {dptl} nope stoped CRM
[13:52] {dino} i can see him
[13:52] {RonS} send Les to give him mouth to mouth...
[13:52] {+cc_9} ok guys im ok im fine
[13:52] {+cc_9} dont send anyone
[13:52] {+cc_9} i cheated
01[13:52] {&Threei}  too lare cc... Les is on his way
01[13:52] {&Threei}  late
[13:53] {jdetente} and he brought his leiderhosen
[13:53] {+cc_9} well damn it, that 163.20 was stronger than I thought.
[13:54] {RonS} and he's gonna hosen you sooner that leider...
[13:54] {RonS} than
[13:54] {+cc_9} lol
[13:56] {+cc_9} not looking good
01[13:57] {&Threei}  lol
[13:57] {+cc_9} took 10mins to climb to resistance and 2 minutes flat go give it all back
[13:57] {+cc_9} on very light volume
[13:57] {+cc_9} 1min SPY volume bar @ 1:52PM is a joke
01[13:59] {&Threei}  damn, jd, you owe me another keyboard
01[13:59] {&Threei}  and ron
01[13:59] {&Threei}  you can share the cost
[14:00] {jdetente} there is a method to my madness
[14:00] {jdetente} I own a keyboard company
01[14:00] {&Threei}  oh good, then Ron only spends on shipping
[14:01] {jdetente} keep eating them and spilling coffee on them hehe
[14:01] {+cc_9} milking the time on the clock (opex)
01[14:01] {&Threei}  btw... do you have any with engraved letters that wouldn't fade away?? I seem to have a sandpaper on my fingertips, destroying those letters in a few months
[14:02] {jdetente} yes we call that the Ukrainian Executive model
[14:03] {nemo} see that tweetofGod?
[14:05] {backman} TZA...above .80?
01[14:05] {&Threei}  worth a try but chances are like 52/48
[14:05] {jdetente} that's a good one nemo...
[14:06] {Les} W;LT inverted cup an dhandle
[14:06] {Les} .10 break
[14:06] {jdetente} "Priests should not have to live in a state of forced celibacy, but be free to marry and let celibacy slowly descend upon them the usual way."
[14:06] {jdetente} from TweetofGod
[14:06] {dino} twc sm s .58
[14:06] {nemo} fas and iwm looking long
[14:07] {+cc_9} I don't think ive ever had to beg for $0.10...
[14:07] {+cc_9} 163.20 on bid god damn it
[14:07] {jdetente} here it comes again cc...are you holding your breath again?
[14:07] {nemo} keep the KY handy
[14:08] {+cc_9} im trying to sell SSO .93 / 94
[14:09] {Les} thanks Nemo was a bout to log off. iwm .60 break is good
[14:09] {+cc_9} HUUURAAAAAAAAAAAY
[14:09] {+cc_9} all out lol
[14:09] {Les} scalp only
[14:09] {Les} spy smack into pivot
[14:10] {Les} what was yer setup cc?
[14:10] {nemo} will likely go to vwap
[14:10] {+cc_9} loaded SSO on the drop 163 SPY
[14:10] {+cc_9} kept adding
[14:10] {+cc_9} ended up 5k shares
[14:10] {Les} lol living dangerously
[14:11] {nemo} what was your stop, or did you partial along the way?
[14:11] {jdetente} yeah no kidding...wearing diaper?
[14:11] {+cc_9} ok, all done, here is my P&L (click) }}} http://img35.imageshack.us/img35/8497/lqpv.jpg
[14:11] {Les} good day. less buying anything, more profitable entries. Will leave it here
[14:12] {RonS} omg wlt halt again
[14:12] {dino} cov twc .18, +.40
[14:12] {Les} c u's monday, gotta find my boy at the local fair
[14:12] {nemo} not if he's lucky
[14:12] {Les} dumbass
[14:12] {Les} a+
[14:12] {RonS} lol
[14:13] {nemo} he provides endless material
[14:13] {+cc_9} lol take care
[14:19] {+cc_9} someone give me back those 5k SSO shares
[14:19] {+cc_9} #$%@#$%@#%$#%
[14:20] {nemo} vwap run, but pivot could hold it up
01[14:20] {&Threei}  TZA never triggered... probably to the best
[14:20] {nemo} short iwm,
[14:20] {+cc_9} NOOOOOOOOOOOOO
[14:21] {nemo} they either want a doji on the day or new highs
[14:21] {jdetente} seller's remorse?
[14:21] {+cc_9} only left about $2,000 or so on the table
[14:21] {+cc_9} ugh...
[14:21] {jdetente} that stings a bit
[14:21] {+cc_9} 163.20 was the key
[14:21] {nemo} what's interesting is it came back to support at old resistance perfectly
[14:22] {+cc_9} draw a line there u will see both wall on the first attempt and support on the slight fade once it broke it
[14:22] {+cc_9} yes nemo
[14:22] {Alexs} did we have set up on TZA Vad?
[14:22] {+cc_9} this is why i track SPY every single trading day
[14:22] {nemo} yeah, I have IWM SPY and FAS up at all times
[14:23] {dino} c l .45
01[14:24] {&Threei}  discussed .80 break a while ago... I was lukewarm on it
[14:24] {Alexs} ok
01[14:46] {&Threei} Short Setup: GDX  .20 break
01[14:46] {&Threei}  If holds  .30
[14:49] {dino} c stop -.10
[14:53] {nemo} http://on.fb.me/11eKwKg
[14:54] {jdetente} friend of yours?
[14:56] {nemo} I give animals the benefit of the doubt over humans
[14:57] {jdetente} wise
[15:02] {RonS} those guys destroyed the abalone industry in the '70's when they became protected, then spawned shark attacks on the surfers when their population soared...no fan here...
[15:04] {nemo} idiot humans...not there fault
[15:04] {nemo} their
[15:04] {RonS} had friends who were ab divers, and surfers who were attacked...
[15:05] {nemo} animals just play their role, Nature figures out how to balance them out, and humans fuck it up
[15:05] {nemo} We have a problem of MA with great whites because of the seal population
[15:05] {Will49} as Vad says...it's the thinking that's the problem
[15:06] {+cc_9} ok fellas
[15:06] {+cc_9} catch u all Monday
[15:06] {+cc_9} for more breath holding
[15:06] {Will49} peace cc
[15:06] {+cc_9} you all have a great weekend
[15:06] {RonS} ccya-9...
[15:06] {dino} cya cc, gj
01[15:06] {&Threei}  and the more we think the deeper problems we create... in our smag confidence that we can actually think up something better than nature did
01[15:06] {&Threei}  take care cc
[15:07] {Will49} I love the line used when something gets screwed up
[15:07] {Will49} "our best thinking got us here"
01[15:07] {&Threei}  yup :)
[15:08] {Alexs} bby short .70?
01[15:09] {&Threei}  looks nice
01[15:09] {&Threei}  yesah, I'll try that
[15:15] {RonS} fb   product event 6/20 announced...
01[15:16] {&Threei}  do they add Dislike button?
[15:16] {nemo} I want a HATE! button
[15:16] {RonS} bet here...NSA direct button...
[15:20] {Alexs} looks like GDX moves in the opposite direction to the GLD
01[15:20] {&Threei}  more tied with SLW than GLD right now
[15:21] {Alexs} why?
[15:21] {nemo} I remember my uncle showed me an arial view of his house...very detailed
[15:22] {nemo} He worked at Ft. Meade, I think a friend of his over in the Recon office was testing one of the Keyhole Sattellites and took a picture and sent it to him...I forgot the whole story it was so long ago
[15:22] {RonS} talking to bunny?
[15:22] {nemo} I was 14 I think, and I said, "What was a plane taking pictures of your house for?"
[15:23] {nemo} yep...that would be early 70's
01[15:23] {&Threei}  well GDX is miners
01[15:23] {&Threei}  SLW is miner, and one of major ones
[15:23] {nemo} and GDXJ is....?
[15:24] {nemo} actually SLW is not a miner
01[15:24] {&Threei}  minor miners
01[15:24] {&Threei}  well, it's a conglomerate of miners to be more precise
01[15:24] {&Threei}  of sorts
[15:24] {dino} roc spike
[15:24] {nemo} I believe they are basically a brokerage that buys up the production of different miners
[15:24] {backman} FB found some love
[15:24] {dino} sm s .00
01[15:24] {&Threei}  proxy enough to be a solidl weight in GDX
[15:24] {nemo} must be because of the baby seal video
01[15:25] {&Threei}  right
[15:29] {dino} cov roc .70, +.30
01[15:31] {&Threei}  Facebook To host new product launch on June 20th - Engadget- Engadget speculates Facebook may be launching an RSS reader.
01[15:31] {&Threei}  really?
[15:32] {jdetente} desperate
01[15:32] {&Threei}  what an incredibler innovation
[15:32] {jdetente} look...we did, something!
01[15:32] {&Threei}  hashtag...
01[15:32] {&Threei}  now RSS...
[15:32] {jdetente} #desperationlossofsharevalue
[15:32] {Will49} lol
[15:33] {dino} whats next, smiley faces
01[15:33] {&Threei}  what's next, tabs?
01[15:33] {&Threei}  ah yes, smilies!
01[15:33] {&Threei}  you got it dino
[15:33] {dino} hope they don't add your trout slap
06[15:33] * dino slaps Threei around a bit with a large trout
[15:34] {Alexs} lol
01[15:34] {&Threei}  lol
01[15:35] {&Threei}  if you make it smoked throut I"ll skip shower
01[15:35] {&Threei}  trout
[15:35] {dino} lol
[15:35] {jdetente} oh no
[15:36] {Alexs} I don't understand why GDX SLW move opposite the GLD
01[15:36] {&Threei}  I think it's not so much opposite as independent
01[15:38] {&Threei}  also look at ABX
01[15:38] {&Threei}  one of big names in gold mining
01[15:39] {&Threei}  if not the biggest
01[15:39] {&Threei}  miners don't move on gold price only, there are other factors
01[15:39] {&Threei}  1:1
01[15:40] {&Threei}  Fur Boots song is back
[15:40] {jdetente} scalp for me..thanks
01[15:40] {&Threei}  I missed it...
01[15:40] {&Threei}  yw
[15:40] {Alexs} but today it looks exactly opposite
[15:41] {dino} rgld and gold down
01[15:41] {&Threei}  why... look at spike in GLD rght after 10
01[15:41] {&Threei}  GDX went up too, although to a lesser degree
01[15:42] {&Threei}  it's just much weaker than metal
01[15:42] {&Threei}  as for why, well... it's not like each and every move needs to have a backstory
[15:42] {Alexs} yeah lol
01[15:43] {&Threei}  some of them are because of shares rebelancing, supply and demand caused by million factors
01[15:43] {&Threei}  and some of them are just because
[15:43] {dino} some may be people raising cash just want out
01[15:44] {&Threei}  on my seminars, when I talk about impossibility to know everything and analyze and predict every move, I like citing this hypotheticalscenario:
01[15:44] {&Threei}  imagine a big fund owner who has big stake in your stock coming home and finding his wife in a bed with a pool boy
01[15:45] {&Threei}  guy throws him out of the windowm, her out of the door,
01[15:45] {&Threei}  calls his attorney
01[15:45] {&Threei}  it becomes clear to him that he faces messy and costly divorce,
01[15:45] {&Threei}  he designs a strategy to minimize damage,
01[15:46] {&Threei}  and one of the moves in this strategy is diminishing his exposure to stocks and using much more liquid cash
01[15:46] {&Threei}  Next morning your stock gets hit with his selling.
01[15:46] {&Threei}  Predict this!
[15:46] {Alexs} lol
01[15:47] {&Threei}  Every time you see a market guru telling you that he knows how to analyze everything and figure out the future, you know you deal with a fraudster or idiot
01[15:47] {&Threei}  whatever you pick, you want to stay away from him :)
[15:47] {thomcbell} i just sign in and a magical comment from Vad
01[15:47] {&Threei}  lol
[15:48] {dino} vad explaining the facts of life
01[15:48] {&Threei}  you missed a story before that... but it will be in a log :)
[15:49] {RonS} wlt not gonna open....can you imagine holding...ooof...waiting for the ooga booga...
[15:49] {dino} i want to know if the pool was for billards or swimming
[15:49] {RonS} lol
01[15:49] {&Threei}  when you read all those internet blogs and forums, you can't help buit get amazed how many people actually understand this
01[15:49] {&Threei}  I meant how few
[15:50] {RonS} fortunate here that one is Les...
01[15:50] {&Threei}  my assumption would be, swimming
[15:50] {RonS} Nemo, not so much...
[15:50] {RonS} :D
01[15:50] {&Threei}  they involve more service than billliards :)
[15:50] {dino} roc sm s .15
01[15:51] {&Threei}  OK guys, we end this uneven week on a very good note
01[15:51] {&Threei}  strong day, with 3 1:3ers
01[15:51] {&Threei}  and a few scalps
01[15:52] {&Threei}  have a great weekend, see you Monday!
[15:52] {Will49} cheers
[15:53] {dino} stop roc .34 -.19
[15:53] {dino} calling it a week, thx all
[15:54] {Alexs} now GDX moves like GLD. So everything is OK with GDX owner's wife :)
[15:54] {dino} lol