Not very active but profitable day, mostly set by a few morning trades. FOMC decision being main dish this week puts some restraints on market activity.
Session Time: Mon Sep 16 00:00:00 2013
[07:57] {nemo} Everybody, go back to bed....
[09:12] {nemo} Go back to the shadow!
[09:12] {nemo} broke my frickin' toe...
01[09:12] {&Threei} who did youi kick?
[09:13] {nemo} ha ha
[09:14] {+cc_9} gm
[09:14] {RonS} gm
[09:14] {drewj} gm
01[09:15] {&Threei} cc9, ron, drew :)
[09:16] {+cc_9} it took a while, but i think the market's AAPL fever has been cured.
[09:16] {nemo} if it gets any better for aapl they'll call the undertaker
01[09:17] {&Threei} so has consumer's it seems
[09:17] {nemo} Fed week too, this is gonna' get boring fast
[09:18] {+cc_9} GDX looking good on 60min
[09:18] {Will49} gm
01[09:18] {&Threei} will :)
01[09:18] {&Threei} GDX... ABX story will matter I believe
[09:19] {ese} gm
01[09:19] {&Threei} ese :)
01[09:21] {&Threei} actually I am amazed ABX is up
[09:21] {jdetente} morning all
01[09:21] {&Threei} jd :)
[09:22] {+cc_9} WiseSage1313 Sep. 12 at 10:48 AM $ABX Commodity Prices are due to drop fast! Gold is going to $600-900 an ounce and will stay that price for a decade.
[09:22] {nemo} kinda like will's...nevermind
[09:22] {fish_49} gm all
01[09:23] {&Threei} fish :)
[09:23] {nemo} joe
[09:23] {fish_49} toad
[09:23] {nemo} now that's an interesting word association
01[09:23] {&Threei} don't say toad with cc9 around
[09:23] {fish_49} oh I forgot
[09:23] {fish_49} nemotoad
[09:24] {+cc_9} ill let it slide bc kinda early
[09:24] {fish_49} actual spelling nematode
[09:24] {fish_49} just thinking of a nematode everytime I see Nemo
[09:24] {cipher} gm
01[09:25] {&Threei} with Summers out and Yellen being all but set, this week's FOMC decision will be especially interesting
01[09:25] {&Threei} cipher :)
[09:25] {+cc_9} BTH daily, now that's a helluva chart
[09:26] {bbobr} gm
01[09:27] {&Threei} bbobr :)
[09:28] {Alexs} gm
01[09:28] {&Threei} alex :)
[09:29] {+cc_9} GDX
01[09:29] {&Threei} Short Setup: GLD .40 break hl
01[09:29] {&Threei} If holds .50
01[09:31] {&Threei} 1:1
[09:33] {+cc_9} GDX new session highs
01[09:33] {&Threei} Short Setup: ABX .10 break
01[09:33] {&Threei} If holds .15
01[09:34] {&Threei} meh
01[09:35] {&Threei} Long Setup: C 51 break
[09:35] {ese} out crus swing trade from last thursday .44 +.51 2400 big ones
01[09:36] {&Threei} If holds .90
01[09:36] {&Threei} wtg
[09:36] {ese} ya...good way to start the week
[09:37] {fish_49} great work Ese
[09:37] {fish_49} share with Alex
[09:37] {ese} tks
[09:37] {Alexs} tks
01[09:38] {&Threei} Invalidated
[09:38] {robbers} Good call on GLD.
01[09:38] {&Threei} you still in?
[09:39] {robbers} Nope.
[09:40] {robbers} You know me better than that, LOL.
01[09:40] {&Threei} :)
01[09:40] {&Threei} can't forgive myself not shorting C at 51.20
[09:40] {nemo} get the banana, cut your wrists
[09:41] {Alexs} can't forgive you it Vad
01[09:41] {&Threei} Long Setup: C .85 break
01[09:41] {&Threei} If holds .75
01[09:41] {&Threei} give me another chance alex...
01[09:41] {&Threei} I'll try to earn your forgiveness
[09:42] {nemo} frickin' svena madka
[09:42] {nemo} or bettter yet, hytraya zhopa
01[09:43] {&Threei} let's trail stop to .79
[09:44] {fish_49} cc has a pm
01[09:45] {&Threei} decisive moment for C
01[09:45] {&Threei} 1:1
[09:45] {fish_49} I have a terrible record trading C so I stay away from it
[09:45] {fish_49} did not take that trade
01[09:45] {&Threei} works rather well for us lately
[09:46] {fish_49} only because I didn't take the trade
[09:46] {fish_49} pay me later
[09:46] {fish_49} lol
01[09:47] {&Threei} Short Setup: GDX .90 break
01[09:47] {&Threei} If holds .95
[09:48] {robbers} Thanks, C.
01[09:48] {&Threei} yw
01[09:48] {&Threei} out in full
[09:48] {jdetente} yes very nice. thanks
01[09:48] {&Threei} almost 1:3
01[09:49] {&Threei} 1:3
[09:49] {fish_49} rub it in
[09:49] {jdetente} almost??
01[09:49] {&Threei} don't you ever doubt that, we will
[09:49] {jdetente} out at .17
[09:49] {nemo} horshoes
[09:49] {nemo} vad got a leaner
[09:49] {drewj} lvs short?
01[09:49] {&Threei} not alnost jd... mised triggers :)
01[09:49] {&Threei} GDX 1:1
[09:50] {jdetente} well that's ok I missed GDX so you got me on that one hehe
01[09:51] {&Threei} lol
01[09:53] {&Threei} 1:2
01[09:54] {&Threei} OK, we are back to those candy/baby way
01[09:54] {&Threei} nemo's favorite
[09:54] {nemo} actually, I like practicing sucker punches at school's for the blind
[09:54] {Will49} lol
[09:57] {RonS} odfl getting hit
01[09:57] {&Threei} ODFL Guides Q3 tonnage per day to increase in a range of 7.0% to 7.5% y/y (6-6.5% prior expectations
[09:58] {fish_49} Out GLD thanks Vad
01[09:58] {&Threei} - Now expects revenue per hundredweight, excluding fuel surcharges, to increase in a range of 3.0% to 3.5% for the third quarter of 2013 from the third quarter of 2012, compared with the previous expected range of 4.0% to 4.5%.
[09:58] {Will49} tks Vad
01[09:58] {&Threei} yw
01[09:58] {&Threei} GDX you mean
[09:58] {Will49} y
[09:58] {fish_49} gld
[09:59] {fish_49} I took 1:1 and stopped out on the remainder
01[10:01] {&Threei} Short Setup: ABX .30 break
01[10:01] {&Threei} If holds .38
01[10:01] {&Threei} Invalidated
[10:06] {RonS} saw another Tesla yest...somehow the design is already looking old to me
[10:07] {nemo} you're projecting
01[10:07] {&Threei} I got a chance to look at one and sit in it two weeks ago
01[10:07] {&Threei} weird design out of sci fi movie
01[10:08] {&Threei} looks cool on a first glance, gets annoying in 1 min
[10:08] {fish_49} comfy?
01[10:08] {&Threei} yes
01[10:08] {&Threei} but feels foreign
01[10:08] {&Threei} I didn't connect with it
01[10:09] {&Threei} Long Setup: TZA .70 break
01[10:09] {&Threei} If holds .60
01[10:14] {&Threei} Invalidated
01[10:20] {&Threei} (US) Senate Finance Committee Chair Baucus (D-MT): Prospects of passing a tax overhaul plan this year are quite good, Congress sees political benefits in getting this done
01[10:20] {&Threei} what about financial benefit?
[10:20] {fish_49} lol
[10:20] {fish_49} why would that matter to them? The only thing they think about is Elections
[10:21] {drewj} gs breakout possiblle?
[10:21] {nemo} sheesh...had to go down and break up a battle between my father and bunny
[10:21] {drewj} possible?
[10:21] {nemo} it's a scene right out of a comedy
[10:22] {nemo} 80 year old man ready to swing a broom at this little rabbit standing in front of him
[10:22] {fish_49} father wanted to BBQ the bunny?
[10:22] {nemo} damn near pissed my pants
01[10:22] {&Threei} well, GC trigger would have to be .20
[10:22] {nemo} made me think of Search for The Holy Grail
01[10:22] {&Threei} stop is a bit too wide for my taste
[10:22] {drewj} or z breakout...
01[10:22] {&Threei} GS that was
01[10:23] {&Threei} Z??
01[10:23] {&Threei} you see level 2?
[10:23] {drewj} zillow consolidation at the high
01[10:23] {&Threei} look at level 2
[10:23] {drewj} saw it.
[10:23] {drewj} no go
01[10:23] {&Threei} you consider it tradable?
[10:24] {drewj} not now. hadn't looked at level 2 yet
01[10:30] {&Threei} Long Setup: CAT 88 break
01[10:30] {&Threei} If holds .90
[10:34] {nemo} P looks short here
01[10:37] {&Threei} stop to .94
01[10:37] {&Threei} 1 cent from 1:1
01[10:48] {&Threei} 1:1
01[10:48] {&Threei} took its sweet time
01[10:48] {&Threei} but whatever
[10:48] {fish_49} half out holding other half for .23
01[10:49] {&Threei} dino's back tomorrow, right?
[10:49] {nemo} Wednesday I thought
01[10:49] {&Threei} just in time for Wed FOMC
01[10:55] {&Threei} (US) Former Fed Vice Chair Kohn: Would be a good idea to have a separate organization look out for financial risks; easy monetary policy creates potentially dangerous risks- Financial oversight can be used to build resilience in the system as opposed to preventing major crises **NOTE: Kohn seen as a potential Fed Chairman nominee after Summers stepped aside
01[10:56] {&Threei} oh come on, Yellen is already measuring curtains and picks color
01[10:56] {&Threei} bbobr, look private message pls
[11:01] {bbobr} where ?
01[11:01] {&Threei} upper bar, where you see names of the channels (discussions, floor),
[11:01] {nemo} I'll be nice
01[11:01] {&Threei} there is another one with my nick
01[11:02] {&Threei} click on it and read and type there
[11:02] {fish_49} who are the shooters in DC Navy Yard
[11:02] {fish_49} Ground stop at DCA airoport
[11:03] {fish_49} out CAT thanks Vad
01[11:03] {&Threei} yw
[11:03] {bbobr} got it
[11:04] {nemo} I thought they had strict gun control laws in DC
[11:04] {fish_49} yes for the honest people
[11:04] {Will49} out CAT but hate it
[11:04] {nemo} Can you believe that, somebody would actually break the law
01[11:04] {&Threei} ???
01[11:05] {&Threei} no
01[11:05] {&Threei} say it ain't so
[11:05] {nemo} you're a LEO fish?
01[11:05] {&Threei} my world is coming down crashing
[11:05] {fish_49} yes
[11:05] {fish_49} why Vad? Ban on Vodka?
[11:05] {nemo} I live in the Peoples Republic of Massachusetts, home of the Masshole
01[11:05] {&Threei} 11:04] {nemo} Can you believe that, somebody would actually break the law
[11:05] {nemo} I sell politically incorrect merchandise part-time
[11:06] {nemo} was talking to a guy from the gang squad in Boston awhile back
01[11:06] {&Threei} I say politically incorrect words full time
[11:06] {fish_49} that's a shitty job always chasing bullets
[11:06] {nemo} They see a known gang-banger walking down the street with a gun case, not a violin case, a gun case
[11:06] {fish_49} was he wearing a hoodie?
[11:06] {nemo} So they decide they should take a look.
[11:07] {nemo} Guy had either a converted mac-10 or uzi
[11:07] {nemo} so that's a Federal Offense
[11:07] {nemo} Then he has 3 30 round clips on him
[11:07] {nemo} That's a big no-no here
[11:07] {nemo} Of course, you can guess what happened?
[11:07] {fish_49} no
[11:07] {fish_49} tell us
[11:08] {nemo} Judge throws it out
[11:08] {fish_49} no PC
[11:08] {fish_49} ?
[11:08] {nemo} tells the cops they had no reason to think there was a gun in the gun case
[11:08] {fish_49} yea no PC
01[11:08] {&Threei} really
[11:08] {nemo} yep
01[11:08] {&Threei} what were they thinking
01[11:08] {&Threei} next thing you know they assume there should be a coffee in a coffee cup
[11:08] {fish_49} It's a Progressive nation Vad
[11:08] {fish_49} lol
[11:08] {nemo} so carrying a gun case is not reason enough
[11:09] {nemo} got another one for ya"
01[11:09] {&Threei} Summers Departure Sparks Global Equity Rally
01[11:09] {&Threei} lol
[11:09] {nemo} Guy burglarizes a house.
01[11:09] {&Threei} man had to feel really special
[11:09] {fish_49} lol
[11:09] {nemo} Tries to come in through the skylight above the kitchen
[11:09] {nemo} Falls through lands on a knife on the kitchen island
[11:09] {nemo} sues the homeowners
[11:09] {nemo} wins
[11:10] {nemo} that's Massachusetts
[11:10] {nemo} you can't even leave a knife out on your own countertop when you're not home in case a guy trying to burglarize your house hurts himself
01[11:11] {&Threei} in good ole USSR people would leave vodka bottle with rat poison on the table in their garden cottage
01[11:11] {&Threei} for thieves who would be breaking in during the winter
[11:11] {fish_49} lol
[11:14] {Alexs} I can't get it nemo, how the knife should stand on the kitchen island that the guy fell on it
[11:14] {nemo} me neither
[11:15] {nemo} maybe it was in of those woodblock holders
01[11:15] {&Threei} even in those knife still stands ppointed end down
[11:15] {nemo} yeah, but perhaps it broke creating some type of spring effect
01[11:15] {&Threei} wait... maybe he hurt himself by the handle?
01[11:16] {&Threei} falling butt first...
[11:16] {nemo} whatever, can you imagine either of those guys getting away with that in texas?
01[11:16] {&Threei} one of those case, you know... "one in million chance, doctor"?
[11:16] {nemo} First guy judge would have thrown in prison for being an idiot and getting what he deserved
[11:21] {fish_49} people fall on things all the time
[11:22] {nemo} Yeah, it's also amazing how hard someone can hit another guys fist with his face
[11:22] {robbers} Yeah, I once fell on my girlfriend.
[11:22] {nemo} I once fell and missed the ground
[11:22] {nemo} now that was a hangover
[11:22] {robbers} LOL
[11:23] {fish_49} About 30 years ago when I was on patrol I pulled over a guy and his wife I suspected of drunk driving
[11:23] {fish_49} It's never what you suspect
[11:23] {jdetente} I can guess what was going on
[11:23] {jdetente} lol
[11:23] {fish_49} I asked the guy why he was crossing the centerline and why he was sitting strange
[11:23] {nemo} the old head bob?
[11:23] {jdetente} that would be my guess
[11:24] {fish_49} He said Sorry Sir I'm on my way to the hospital I fell on my wife's Vibrator and I cant get it out
[11:24] {jdetente} Ahahahaha
[11:24] {nemo} Oh got a story
[11:24] {nemo} Buddy of mine was an ER doctor
[11:24] {nemo} Guy comes in with his vibrator stuck up his ass
[11:25] {nemo} So, the wise ass that he was he asks the guy, "So, you want me to get that out, or change the batteries?"
01[11:25] {&Threei} Million to one shot doc.. Million to one
[11:25] {jdetente} Fusili Jerry
[11:25] {fish_49} lol
[11:25] {fish_49} lol
01[11:25] {&Threei} you got it :)
[11:25] {jdetente} http://www.realfunfood.com/wp-content/uploads/2012/08/fusilli-jerry.jpg
01[11:26] {&Threei} http://www.youtube.com/watch?v=eghL7ORV1lg
[11:31] {+cc_9} OME, that's quite a range. Shortable but only watching for now. These type of plays can gap
[11:31] {nemo} europe closed
01[11:33] {&Threei} in full?
01[11:33] {&Threei} for everyone?
01[11:33] {&Threei} can they get out?
[11:34] {Alexs} lol
[11:34] {nemo} bored, huh?
01[11:34] {&Threei} just remembered ancuient soviet joke
[11:34] {+cc_9} OMER* sorry.
[11:34] {nemo} omerta?
01[11:35] {&Threei} kid runs into the house, screams to his grandfather: You heard?? Communists flew to the space!!
01[11:35] {&Threei} Grandfather: all of them? Forever?
[11:37] {fish_49} lol
01[11:42] {&Threei} Short Setup: GDX .50 break
01[11:42] {&Threei} If holds .55
[11:43] {ese} am outta here cya tomorrow.....was not feeling well and am not doing much
01[11:44] {&Threei} take care ese
[11:45] {nemo} try some midol ese
01[11:47] {&Threei} Invalidated
[12:03] {nemo} wonder if the shooter will end up being a Muslim
[12:05] {fish_49} that is what my original thought was
[12:05] {jdetente} if he is it will be classified as workplace violence
[12:05] {nemo} of course
01[12:05] {&Threei} which it is... he worked in USA, right?
[12:05] {fish_49} there are two shooters
[12:05] {nemo} whoa, that's likely then
[12:06] {fish_49} they will know soon, one shooter dead already
[12:06] {nemo} I sometimes go to this Popeyes, the Pakastinis that own it make sure to tell me they're not terrorists...I wonder why they say that to me?
[12:07] {fish_49} fear
[12:07] {nemo} I mean, I'm a laid back, affable, mellow casper-milquetoast kinda' guy
[12:08] {fish_49} Tall Black man
[12:08] {nemo} named Malik
[12:09] {nemo} Hey fish, remember the Aurora shooting? I was told he cased three different theaters and chose that one because it forbid firearms on the premises
[12:09] {fish_49} friggin nut
[12:10] {nemo} yeah, can you believe he didn't obey the rules
[12:10] {nemo} I always get a kick out of exclusion zones, you create a fish-in-a-barrel environment
[12:10] {fish_49} lol why does it have to be a fish?
[12:11] {nemo} o.k. people in a building
01[12:11] {&Threei} let it be toad
[12:11] {nemo} sheep in a barrel doesn't work
[12:12] {nemo} no rabbits
[12:12] {nemo} that's a given
01[12:12] {&Threei} toad in a barrel
[12:12] {nemo} Les in a barrel?
[12:12] {fish_49} ur faster than me Vad
[12:12] {fish_49} I was typing that in a chart menu
[12:12] {fish_49} lol
[12:12] {nemo} Les down the barrel?
[12:13] {fish_49} When is Les due to come back?
01[12:14] {&Threei} Oct, per last exchange
[12:14] {nemo} when the lobotomy heals
[12:14] {nemo} He can't sit down yet
[12:14] {fish_49} Ahh I will be away most of October.. I wont be here to welcome him back.
[12:15] {nemo} where u goin'?
[12:15] {fish_49} Korea
[12:15] {nemo} North?
[12:15] {fish_49} Mother In Law 80th Birthday
[12:15] {nemo} ahhh
[12:15] {fish_49} South of Course
[12:15] {nemo} bummer
[12:15] {fish_49} I'm not friends with Rodman
[12:15] {fish_49} lol
[12:15] {nemo} well at least somebody finds your jokes funny-you
[12:15] {nemo} I'm such a dick
[12:16] {fish_49} Agree
[12:16] {nemo} Of course, takes one to know one
[12:16] {nemo} you walked into that
[12:16] {fish_49} no. Will told me
[12:16] {nemo} weak
[12:16] {nemo} very weak
[12:17] {fish_49} wow Nice lunchtime push
[12:17] {nemo} yeah, change the subject
[12:17] {nemo} been grinding up since 11
[12:18] {fish_49} Still want CAT to hit .23 so Im not a liar today
[12:18] {nemo} why should today be any different?
[12:18] {fish_49} just because
01[12:28] {&Threei} Short Setup: GDX .80 break
01[12:28] {&Threei} If holds .85
01[12:54] {&Threei} Short Setup: SLW .55 break
01[12:55] {&Threei} If holds .60
01[12:57] {&Threei} How do you know if your best friend is a real friend? Show up at his door with dead body over your shoulder and see if he just grabs a shovel without asking a single question
[12:58] {fish_49} my friend would do that only if it were his wife on my sholder
01[12:58] {&Threei} now let's wait for nemo to connect back
[12:58] {Alexs} nice fish
[12:59] {fish_49} Vad, If I knocked on your door with a dead Nemo on my sholder would you start digging?
01[12:59] {&Threei} Short Setup: WMT .85 break
01[12:59] {&Threei} If holds .90
01[12:59] {&Threei} I'd start drinking
[13:15] {Will49} haha Vad...just saw that!
01[13:15] {&Threei} which one?
[13:15] {Will49} drinking
01[13:15] {&Threei} oh
01[13:16] {&Threei} will... you saw ese just excusing himself, right?
01[13:16] {&Threei} now, look at this, 20 min later:
[13:16] {Will49} yeah
01[13:16] {&Threei} 7-Eleven at Tillicum and Carey in Saanich robbed for fourth time
01[13:16] {&Threei} he works overtime, don't you think
[13:17] {Will49} ahah !
[13:17] {Will49} the masked musician strikes again
[13:17] {fish_49} bad day trading so he needed to make up income?
01[13:17] {&Threei} bad day?
[13:17] {fish_49} he said good day
[13:17] {fish_49} so no need to Rob the store
01[13:17] {&Threei} [09:35] {ese} out crus swing trade from last thursday .44 +.51 2400 big ones
[13:17] {fish_49} its a cover up
01[13:18] {&Threei} I suspect he just enjoys it...
[13:18] {fish_49} recreation
[13:18] {fish_49} lol
01[13:18] {&Threei} teacher by day, musician by night, robber inbetween
[13:18] {Will49} :)
[13:19] {fish_49} don't forget the weed
[13:19] {fish_49} or was that Will arrested for the weed?
01[13:19] {&Threei} and trading room - oh, this is just where he comes to brag
[13:19] {Will49} who me?
01[13:19] {&Threei} never mind will, that was while you were on vacation :)
[13:19] {Will49} right
[13:19] {fish_49} yea I forgot when but I recall you missing one day Will
01[13:20] {&Threei} you didn't think we wouldn't insult you in your absence, did you
[13:20] {Will49} nooooooo
[13:20] {Will49} just nemo
01[13:20] {&Threei} well... it's contagious
[13:20] {Will49} I read the blog every day just to keep an eye on him
[13:21] {drewj} please tell me that's a joke will
[13:21] {Will49} that's a JOKE
01[13:21] {&Threei} Les told me he feels he becomes strangely and inconveniently polite while lacking communication with nemo
[13:21] {Will49} :)
[13:21] {fish_49} hahahahaa
[13:22] {Will49} how ya doin' drew?
01[13:22] {&Threei} says he misses the room for that reason alone
01[13:22] {&Threei} trading profit is add-on
[13:22] {drewj} ok...trying to get the hang of this day trading thing
[13:23] {drewj} that's true vad.
[13:23] {Will49} hang is a good term
[13:23] {drewj} sometimes i'm more into joking around than trading!
01[13:23] {&Threei} so drew... followed today's trades?
[13:23] {drewj} i did.
[13:23] {Will49} you and the whole room sometimes
01[13:23] {&Threei} worked out for you?
[13:23] {drewj} I'm still making a lot of rookie mistakes.
[13:24] {drewj} But I kick myself for them.
01[13:24] {&Threei} well, keep in mind that we sometimes take things for granted
01[13:24] {&Threei} if some call is not too clear, ask
[13:24] {+cc_9} OMER, nonstop geez
[13:24] {drewj} The general concepts are starting to become more clear in my mind
01[13:24] {&Threei} or instructions on how to handle it
01[13:25] {&Threei} we have thios SOP that has been repeated so many times, we just don't comment on uit
01[13:25] {&Threei} k hits 1:1, everyone knows what to do
01[13:25] {&Threei} I just say "1:1" instead of whole instruction
[13:25] {drewj} i get that. I don't need to ask about that one too much. It makes sense and is protective the way it's designed.
01[13:26] {&Threei} korreqt
[13:26] {drewj} My nerves are subsiding. Nervous clicking is expensive.
01[13:26] {&Threei} if you see more detailed instruction, like:
01[13:26] {&Threei} trail stop to xxx,
01[13:26] {&Threei} this is deviation from SOP caused by some factor
01[13:26] {&Threei} no comments, SOP is in effect
[13:26] {drewj} I dropped a bunch this morning on FB trying to sell but clicking buy
01[13:27] {&Threei} why did you play FB at all?
[13:27] {drewj} price movement is starting to make more sense altogether.
[13:27] {drewj} Is nemo here?
[13:27] {drewj} NO?
[13:27] {drewj} Well i did it because i'm a retard
01[13:27] {&Threei} oh
[13:28] {drewj} oh? so do you agree?
[13:28] {drewj} jk
01[13:29] {&Threei} I just take it as an information supplied by you
01[13:29] {&Threei} {GGG}
01[13:29] {&Threei} btw, confusing buy and sell is not an unusual at the beginning
01[13:29] {&Threei} many did that
[13:29] {drewj} i know.
[13:30] {drewj} well...on wmt I want to trail my stop to break even.
[13:30] {drewj} is that smarter
[13:30] {drewj} ?
[13:31] {drewj} it just keeps ticking higher
01[13:31] {&Threei} if you are in solid profit as you should be per room trades, I wouldn't
01[13:31] {&Threei} if not, maybe a good idea
[13:31] {fish_49} are you short WMT?
[13:31] {drewj} yes
[13:31] {drewj} i've been in the red most days.
01[13:31] {&Threei} fish..
01[13:31] {&Threei} 12:59] {&Threei} Short Setup: WMT .85 break
01[13:31] {&Threei} [12:59] {&Threei} If holds .90
01[13:31] {&Threei} drew...
01[13:32] {&Threei} stop doing your own trades
[13:32] {drewj} i have rarely done my own.
[13:32] {fish_49} Yes I see it Vad I did not take that trade
01[13:32] {&Threei} everything has its time and place
[13:32] {Will49} and that's an oredr
[13:32] {drewj} that was probably the second or third one since i started.
01[13:32] {&Threei} how can you be down if you only do what I call I don't understand
[13:32] {drewj} not sure.
[13:33] {fish_49} Drew Sit on hands when your thinking of jumping in your own trades for now
[13:33] {drewj} will do.
[13:33] {drewj} i need to get into the black each day.
01[13:33] {&Threei} so focus on this
01[13:33] {&Threei} and find out what causes red when room calls are solidly in black
01[13:34] {&Threei} you are not following SOP correctly then
[13:34] {drewj} i'll go back over my trades tonight. I'll let you know what i find.
[13:36] {drewj} many things have been mixups.
[13:37] {fish_49} I had same issues when I started Drew What I found to help was just follow the trades
[13:37] {drewj} so before a trade triggers 1;1 the stop is the original stop then. so right now stop on wmt is .90?
01[13:37] {&Threei} .91
[13:38] {fish_49} don't beat yourself up just recognize the issues and fix them b4 you blow up your account
[13:38] {drewj} .91 seems so far up at this point. why stay in if it is just ticking higher?
01[13:39] {&Threei} far?
01[13:39] {&Threei} it's 5 cents
[13:39] {drewj} Thanks fish.
01[13:39] {&Threei} stops don't get any tighter than this
[13:40] {drewj} i got in at .84 so that's 7 cents
01[13:40] {&Threei} yes
01[13:40] {&Threei} that changes thing greatly
01[13:40] {&Threei} things
01[13:40] {&Threei} come on
[13:40] {drewj} i always feel like my stop outs are larger than my gains.
01[13:40] {&Threei} we get 1:3ers regularly
01[13:40] {&Threei} how can that be?
01[13:41] {&Threei} you are trading a system now has been honed and tested for over a decade
01[13:41] {&Threei} have some faith, will you?
[13:41] {fish_49} 3 cents slippage is that because of speed or was it broker slippage?
[13:41] {drewj} i'm only using 200 shares at a time. I can't get to 1:3. I have to get out at 1:2
[13:41] {drewj} maybe that's the problem.
01[13:41] {&Threei} so use 300
01[13:41] {&Threei} or 400
[13:42] {drewj} what should i do at 1:1 with 300
01[13:42] {&Threei} it's frikin 5 vcents stop
[13:42] {drewj} ?
01[13:42] {&Threei} ok, 7
01[13:42] {&Threei} WMT 1:1
[13:42] {drewj} not complaining vad
[13:42] {drewj} I'm not complaining...just not competent
01[13:43] {&Threei} notice that you would be out right now at .86 if you did what you felt like doing
01[13:43] {&Threei} insteasd you can start taking prodit
01[13:44] {&Threei} 13:38] {drewj} .91 seems so far up at this point. why stay in if it is just ticking higher?
01[13:44] {&Threei} this is wrong
[13:44] {drewj} ok why?
01[13:44] {&Threei} any tick between meaningful levels is just a noise
01[13:44] {&Threei} support and rtesistance matter
01[13:44] {&Threei} and what stock does between them
01[13:44] {&Threei} why would you want to take or exit position on any accidental tick?
01[13:45] {&Threei} sorry this should read:
01[13:45] {&Threei} and what stock does around them
01[13:45] {&Threei} .90 is resistance
01[13:45] {&Threei} .85 becomes resiostance when stock reaches 1:1
01[13:46] {&Threei} or at least touched very close to it
[13:46] {drewj} i guess I can't read S/R well yet.
[13:46] {drewj} i'm on the edge of my seat tick by tick.
01[13:46] {&Threei} don't read them,
[13:46] {drewj} so what is resistance on wmt right now?
01[13:47] {&Threei} follow those I ouline in my calls
01[13:47] {&Threei} let's crawl before walk and walk before run
01[13:47] {&Threei} nobody expects you to analyze vhart structure just yet
01[13:47] {&Threei} chart
01[13:47] {&Threei} now it's .85
01[13:47] {&Threei} you covered half of your position and trailed stop to .86
01[13:48] {&Threei} again, notice that even though stop was 5, first target is 10
[13:48] {drewj} ok
01[13:48] {&Threei} how yourr stoped can be larger than your profits, I can't see - unless you just don't follow SOP
01[13:49] {&Threei} stops
[13:49] {RonS} Due to an OPRA issue(s) the CBOE C 2 NYSE AMEX ISE and Gemini Haltedg Trading as of 12:40 ct RT @nanexllc: OPRA just came back
[13:49] {RonS} There will be (or should be) alert prior to options exchanges retarting RT @nanexllc: OPRA only back for about 20 seconds - down again
01[13:50] {&Threei} (US) White House reiterates that President Obama will make the Fed chair appointment in the fall months, no change in planned timing of nomination after Summers withdrawal
[13:51] {fish_49} he was scheduled to speak on tv today?
01[13:52] {&Threei} he did
[13:52] {fish_49} wow I missed it
[13:52] {fish_49} lol
01[13:53] {&Threei} how very unpatriotic of you
[13:53] {fish_49} Options Markets Halted
[13:53] {fish_49} Drew have you sold half of your position on WMT?
[13:54] {drewj} so if i use 400 shares it's 200 out at 1:1, other 100 at 1:2 and last 100 on 1:3?
[13:54] {fish_49} yea you got it
[13:54] {drewj} Yes fish. but I only have 100 more to go.
01[13:54] {&Threei} so what
01[13:54] {&Threei} follow the procedure
01[13:54] {&Threei} it's training wheels size,
01[13:55] {&Threei} but you train by doing what you are going to do with larger size
[13:55] {drewj} i have to keep that in mind
[13:56] {fish_49} so Drew where is your stop for the remaining shares?
[13:56] {drewj} .85
[13:57] {drewj} good question...that's what i need
[13:57] {drewj} am i right?
[13:57] {fish_49} Look up and see what Vad said
[13:57] {nemo} not in this universe
[13:57] {fish_49} I think he said .86
01[13:58] {&Threei} .85 is resistance
01[13:58] {&Threei} break of it triggers your stop
01[13:58] {&Threei} so .86 is a stop
[13:58] {fish_49} so the sell trigger should be .86 and your out
01[13:58] {&Threei} korreqt
01[13:59] {&Threei} drew, let's agree on this:
[13:59] {fish_49} Drew .86 is the better place to put your stop .85 is resistance so it could come to .85 again and stop you out b4 falling
[14:00] {fish_49} so if it breaks resistance at .85 then you know the trade is going the other way
[14:00] {fish_49} does that make sense?
[14:00] {drewj} yes
01[14:00] {&Threei} if room ends the day profitable and you are in red, this is not something you just dismiss and come back tomorrow making the same mistakes; you look into what you did wrong and correct that
[14:00] {fish_49} so if u see your chart you could draw a resistance line at .85 you will see price hit it 3 times and reversed
[14:00] {drewj} agreed
[14:00] {drewj} i see it fish
[14:02] {Will49} something that helps me is to draw s and r lines plus entry price line
[14:02] {Will49} easier for me to watch the candles go up and down between lines
[14:03] {fish_49} so if it drops from here then we have resistance at .80 and if you were nervous you could move stop to .81 but it might be wise to wait and or ask vad his opinion on moving stop to .81. Look below and see there is no real resistance until gap fill.. Will we make it to gap fill? not sure but at this point the odds are in your favor because your in the m
[14:03] {fish_49} oney
01[14:04] {&Threei} I'd say if it approaches .70 from here, trail to .81
01[14:04] {&Threei} to protect from double bottom
[14:04] {drewj} i was just about to ask
01[14:05] {&Threei} for now it's still .86
01[14:05] {&Threei} slowly developing trade, ideal for real time discussion
[14:05] {drewj} that's actually what i really need.
01[14:05] {&Threei} let's me offer you somewhat unusual advice drew
[14:05] {drewj} shoot
01[14:06] {&Threei} for a nearest while, stop thinking
01[14:06] {&Threei} just follow as close as possible
01[14:06] {&Threei} what it's going to do fir you is:
01[14:07] {&Threei} 1. relief from incessant overthinking things for which you don't have enough knowledge yet, and tend to think (and do) wrong things as a result
01[14:07] {&Threei} 2. give you a chance to calm down and control your emotions, much like soldier who stops question orders and just follows them
01[14:07] {&Threei} and 3, and most important
[14:08] {fish_49} make money
01[14:08] {&Threei} give you a chance to become profitable, sensing that it's doable
01[14:08] {&Threei} and further calming down
01[14:09] {&Threei} when you are over that threshold, we will get back to that potentially harmful thing people call thinking
01[14:09] {&Threei} otherwise you just overwhelm yourself by endless questions that don't help much
01[14:09] {&Threei} I'd put it this way: at this stagr you don't know yet what questions to ask :)
[14:11] {drewj} agreed
[14:11] {drewj} thanks guys
01[14:11] {&Threei} np
[14:12] {jdetente} I've been in your shoes Drew.
[14:12] {Will49} amen
[14:12] {jdetente} Once you stop thinking, it will work wonders
01[14:12] {&Threei} give us a chance, we will make non-thinking profitable trader with ice in your veins out of you
[14:12] {Alexs} feeling myself in a church
01[14:13] {&Threei} each and every one of us has been in your shoes
01[14:13] {&Threei} even alex
[14:13] {drewj} i was thinking of cobra kai
01[14:13] {&Threei} it is Alex,
[14:13] {nemo} oh jeez
01[14:13] {&Threei} called Church of Opinionless Trading
[14:13] {Will49} amen
[14:13] {Alexs} lol
01[14:13] {&Threei} lol
01[14:14] {&Threei} one of questions I often get in e-mails:
[14:14] {Will49} what church do you attend?
01[14:14] {&Threei} I see you going long and short on the same stock in one day; don't you have an opinion on the stock and its duirection?
01[14:14] {&Threei} I tend to answer those with one word: No.
01[14:15] {&Threei} if a sender is a bit more polite and shows intelligence in his questions,
01[14:16] {&Threei} I may ask him how does following his opinion work for him
[14:16] {fish_49} sorry for my rude question Vad I didn't know you would share it in the room
01[14:16] {&Threei} if he is honest, answer is usually" not very well, lol
01[14:16] {&Threei} that's fine fish, in a min we will be done with this and turn on nemo
[14:17] {drewj} get him
[14:17] {fish_49} I was going there
[14:17] {Will49} oh no!
01[14:17] {&Threei} so nemo
[14:17] {nemo} wait...
01[14:17] {&Threei} why didn't you open the door when a rang about an hour ago?
[14:17] {nemo} O.K finished loading magazines
[14:17] {nemo} I was meditating
[14:17] {fish_49} Vad don't know the direction of the stock, for direction he relies on Nemo which means we are still directionless
01[14:17] {&Threei} no, this is what this was about:
[14:17] {Will49} lol
01[14:17] {&Threei} [12:57] {&Threei} How do you know if your best friend is a real friend? Show up at his door with dead body over your shoulder and see if he just grabs a shovel without asking a single question
01[14:18] {&Threei} and you just decided not to open the door at all??
[14:18] {nemo} ahhh, yep
[14:18] {nemo} Doing the deed, no problem...getting rid of the body, always a problem
01[14:18] {&Threei} not even curiosity whose body that was?
[14:19] {nemo} o.k. I'll bite, whose body?
[14:19] {Will49} wasn't it somebody's wife?
01[14:20] {&Threei} too late... you should have helped dig
[14:20] {nemo} fine
[14:20] {nemo} nevermind
[14:20] {Will49} last time we'll bring a body to you
01[14:20] {&Threei} lol
[14:22] {Will49} sheeesh...this must be the longest trade we've been in yet
[14:22] {Will49} only seems like it to me
[14:22] {Will49} cause I' used to bail early on everything:)
[14:22] {fish_49} you mean WMT Will?
[14:23] {nemo} what about your marriage?
[14:23] {Will49} got religion now though
[14:23] {nemo} talk about losing trades
[14:23] {Will49} only bailed on one of my three marriages
[14:23] {drewj} ha
[14:23] {nemo} freedom for matrimonial slavery
[14:23] {RonS} lol
[14:23] {Will49} one win. one loss and one still in the trade
[14:24] {nemo} I knew a guy had been divorced three times says to me, "Every 6 or 7 years I should just find some bitch that hates me and buy her a house."
[14:24] {Will49} hahaha
[14:25] {Will49} btw..the religious reference was to trading, not marriage
[14:25] {fish_49} I'm on my forth marriage
[14:25] {fish_49} the first wife died of a broken neck
[14:25] {nemo} yeah, you start talking about churches I start visualizing Vad with altar boys
[14:25] {fish_49} who would have thought the second wife died of a broken neck also
[14:25] {Will49} that's the way Fish...do it till you get it right
[14:26] {nemo} worst cast of suicide I ever did see
[14:26] {fish_49} I blew that
[14:26] {fish_49} I was wrong
[14:26] {Will49} careful Fish...NSA is on to you
[14:26] {nemo} you must be a goverment employee
[14:26] {fish_49} first wife died from eating mushrooms
[14:26] {fish_49} 2nd wife dies of eating mushrooms also
[14:27] {nemo} what is this, a Clint Eastwood movie
[14:27] {fish_49} 3rd wife died of broken neck she wouldn't eat the mushrooms
[14:27] {nemo} ?
[14:27] {Will49} LOL
[14:27] {nemo} cute
[14:27] {RonS} lol
[14:34] {nemo} have we had a "SoMG" moment today?
[14:34] {Will49} only when you returned
01[14:35] {&Threei} ROFL!
[14:35] {nemo} not bad
01[14:35] {&Threei} will... round of applause
[14:35] {nemo} I wouldn't give it a ROFL
[14:35] {Will49} will takes a bow
01[14:35] {&Threei} come on, consider reaction time
[14:35] {nemo} oh jeez, are we gonna' have a "give everybody a trophy" moment?
01[14:35] {&Threei} hat was as instantenous as they go
[14:35] {fish_49} ok fill us rookies in what is SoMG
01[14:36] {&Threei} son of a motherless goat - applied to stocks that rinse us, copurtesy of jd
[14:36] {fish_49} ohhhhh
[14:36] {nemo} yeah, we don't want to pry as to why though
01[14:37] {&Threei} one of the molst hienous actions is to tag our stop, then proceed to our target
01[14:37] {&Threei} which is what we reflect in SoMG designation
[14:37] {nemo} heinous is your spelling
01[14:38] {&Threei} no, that's atrocious
[14:38] {nemo} ok....
[14:38] {nemo} heinously atrocious
01[14:38] {&Threei} right
01[14:38] {&Threei} I can work with that
[14:45] {Will49} SPY is just slip slidin' away
[14:46] {nemo} o.k. Paul
[14:46] {+cc_9} OMER finally a fade
[14:46] {Will49} tks nemo...knew I could count on you
[14:47] {nemo} 7.73 support
[14:48] {nemo} Kodak stopped making the film a coupla' years ago
[14:48] {nemo} indexes look long here
[14:49] {Will49} will quakes in fear and wants to lower stop to .82
[14:49] {Will49} it's a JOKE
[14:50] {Will49} really want to lower it to .81
01[14:53] {&Threei} on what?
[14:54] {Will49} can't even remember what trade we're in:)
[14:54] {fish_49} wallyworld
01[14:54] {&Threei} it touched .71
01[14:55] {&Threei} by al;l means, trail to .81
[14:55] {fish_49} Drew you catch that?
[14:58] {drewj} trail stop? yes
[14:58] {drewj} thanks
[14:58] {nemo} fish, man you gotta' change that nick, I love James Gang music, but I can't get it out of my head
[14:58] {fish_49} Easy to change name?
[14:59] {fish_49} I was thinking of a new name perhaps Nemo2?
[14:59] {nemo} sheesh...it's like having Bohemian Rhapsody playing on every station, and I've only got one station
[14:59] {fish_49} Vad can you change my name to NemoWannabe?
[14:59] {nemo} works for me, you'll have to ask everybody else if two of us is too much
[15:00] {nemo} which sets up...
[15:00] {Will49} don't need to even ask
[15:00] {fish_49} Nemo what was the song?
[15:01] {nemo} Funk49
[15:02] {fish_49} Didn't the Eagles sing that song in Vancouver?
[15:02] {nemo} they sang it here when I saw them in August
[15:02] {nemo} they did 3 or 4 Joe songs
[15:03] {nemo} Funk49, In the City, and Life's been Good, might have been another
[15:03] {nemo} dude was a crazy bastard on tour...had a PhD in destroying hotel rooms
[15:04] {nemo} would bring a chain saw on tour with him
[15:04] {nemo} cut right through the walls
[15:04] {nemo} ebay vad
01[15:04] {&Threei} .45 break?
[15:04] {nemo} looks it
01[15:05] {&Threei} yup, tempting
[15:05] {nemo} gotta' watch the indexes here
[15:08] {fish_49} your out of WMT right Drew?
[15:09] {nemo} droobie droobie drew, where are you?
[15:09] {nemo} ebay weak on index rise
[15:09] {fish_49} so to my calculation you made 5 cents on that trade
01[15:11] {&Threei} hmm?
[15:12] {fish_49} he got in late
[15:12] {fish_49} .84
[15:15] {+cc_9} JPM to pay $750M in files in relation to the London Whale trade.
[15:16] {fish_49} slap on wrist for them
01[15:17] {&Threei} I am not sure I understand what they are paying for
[15:17] {fish_49} how much did they make on the LW trade?
[15:17] {fish_49} paying to make the issue go away?
01[15:17] {&Threei} they made an error and lost mney?
01[15:18] {&Threei} good, what else do they need to pay?
[15:18] {fish_49} they need to buy lunch for Alex
[15:18] {fish_49} then we can forget about it
01[15:18] {&Threei} that's a given
01[15:19] {&Threei} but 750 mln lunch, no progressive can eat it
[15:19] {fish_49} It depends
[15:19] {fish_49} Fish in Japan is expensive
[15:19] {fish_49} Tuna sells for a premium there
[15:19] {nemo} one of the shooters identified as from Texas
[15:20] {fish_49} any news on why or affiliation?
[15:20] {RonS} ...had a brand on his ass?
[15:21] {nemo} nah
[15:21] {nemo} is name was Alexis
[15:22] {+cc_9} fish_49 how much did they make on the LW trade?
[15:22] {+cc_9} they lost $6B on that trade.
[15:22] {nemo} http://lat.ms/16drtPj
[15:22] {fish_49} so why pay? if they had inside information would they have lost?
[15:22] {fish_49} was it an inside information case?
[15:22] {+cc_9} Because part of being a bank is being able to assess risk
[15:22] {+cc_9} that loss was made by one trader
[15:23] {fish_49} Nemo?
[15:23] {+cc_9} no 1 person can lose $6B for a bank...otherwise, something aint working right
[15:23] {+cc_9} nemo, its Dorner part 2
[15:26] {nemo} whose asking what?
[15:26] {nemo} who's
01[15:26] {&Threei} I still fon't get it
01[15:27] {&Threei} they didn't do their risk control rigtht
01[15:27] {&Threei} they lost 6B
01[15:27] {&Threei} they are punished by market
[15:27] {fish_49} forget that lets give nemo hard time for his English mistake
01[15:27] {&Threei} what do regulators have to do with it?
[15:27] {+cc_9} also, don't forget the toad part
[15:27] {nemo} yeah, it was an obscure thinly traded derivative
01[15:28] {&Threei} how long from that to a private trader paying fine for a losung trade?
01[15:28] {&Threei} oh, you missed a stop and lost more than you should have? part of your job as a trader is proper risk control, pay fine
[15:29] {+cc_9} "part of your job as a bank is proper risk control, pay fine"
[15:29] {+cc_9} fixed that for you
[15:30] {nemo} wow, still only 83 mil. spy traded
[15:30] {nemo} tlt coughed up a furball
01[15:30] {&Threei} well, unless there was some part of it that I am missing, it's wrong
[15:31] {fish_49} trader pay fine get fired, company pay fine? The government protecting us?
[15:38] {nemo} spy going down like a good girl
[15:40] {+cc_9} http://en.wikipedia.org/wiki/2012_JPMorgan_Chase_trading_loss
[15:40] {+cc_9} scroll down to Trades
[15:45] {fish_49} The Financial Times "Alphaville" analysis suggests that these positions were not volatile enough to account for the full losses reported.[23] They suggest that other positions are likely involved as well.[
[15:45] {fish_49} so they think JPM hiding other losses?
[15:45] {nemo} it was aliens
[15:48] {nemo} frickin' toe is throbbing now...sheesh
[15:48] {fish_49} what did you do to toe?
[15:48] {fish_49} should we call a tow truck?
[15:48] {nemo} broke it, it was an arthritic toe already
[15:49] {fish_49} no meds?
[15:49] {nemo} yeah 1.75 litres of JD
[15:49] {drewj} thanks all.
[15:50] {fish_49} DREWWWWWWWWW
[15:50] {drewj} have a good evening
[15:50] {fish_49} you made money right?
[15:50] {drewj} later fish...no not really
[15:50] {drewj} i will start fresh tomorrow
[15:50] {fish_49} if you have time re read the room and compare to charts
[15:50] {fish_49} that might help
[15:50] {fish_49} have a good night Bro
[15:51] {drewj} i have to look over my mistakes...try to see where i am messing up.
[15:51] {drewj} you too.
[15:51] {nemo} gonna' start singing kumbaya now...sheesh
[15:51] {drewj} all this positivity is going to make nemo melt
[15:51] {fish_49} Drew we can blame Vad he should only bring us 5:1 trades
[15:52] {drewj} if all else fails blame the boss
[15:52] {nemo} yeah, he's gotta' step up his game
[15:52] {nemo} it's his fair share
[15:52] {nemo} right Alex
[15:52] {nemo} commie bastid
[15:52] {Alexs} :)
[15:53] {fish_49} Vad left the room he is out taking pics
[15:53] {Will49} cheers boys :)
[15:53] {fish_49} late Will
[15:53] {fish_49} take care all
[15:53] {fish_49} Thanks Vad
01[15:56] {&Threei} thank you all
01[15:56] {&Threei} have a good evening
01[15:56] {&Threei} see you tomorrow
[15:56] {nemo} thanks for the fish
[15:57] {nemo} I'll brink you some I caught near Fukishima tomorrow
[15:57] {bbobr} gn all
Monday, September 16, 2013
Friday, September 13, 2013
Market Week Wrap-up
7 X 7 OFFER
If you follow our trading log, you couldn't help but notice our rather spectacular performance in traditionally empty August - start of September market. How did we achieve that? By applying our setups described in 111 TRADES Online Course.
We are running a 10% discount for this course as a limited time and number of participants offer. Starting tomorrow and for the next 7 days, 7 courses are offered with coupon 15765B6679. Copy it and paste in Coupon Number field when signing up for the course. Offer will run from Sept 13th to Sept 21st or until 7 courses are purchased, whichever comes first!
Again, the coupon number:
15765B6679
Go here to read the Course description and purchase: http://www.realitytrader.com/111trades.html
- Global equity markets sustained another round of solid gains this week. The march to war in Syria abruptly gave way to diplomacy as Russian President Putin offered to broker a deal to get the Syrians to hand over their chemical weapons to international control. Market participants appear to be more comfortable with the idea that the Fed taper, with the initial reduction on deck for next week, will be gradual (and inevitable). Chinese August trade data out on Monday was very strong, suggesting that there has been no big slowdown in China. US initial jobless claims dropped to 292K in the week ended September 7th, the lowest figure since 2006, however the data was clouded by some technical problems in claims processing in two states. For the week, the DJIA gained 3%, the S&P500 added 2% and the Nasdaq rose 1.7%.
- The FOMC meets next week on Wednesday, Sept 18th, and the consensus view is that the Fed will decide for "taper light" of $10-15B (to $70-75B in purchases a month), with most if not all the reduction in USTs, not mortgage-backed securities. On Friday the Nikkei published a story asserting that President Obama would nominate Larry Summers as the next Fed chairman after next week's FOMC meeting. The White House later refuted the report, and sources said that there would be no announcement about the new chairman next week.
- By Monday, there was no chance of the House passing a resolution supporting the use of force in Syria and Senate passage was looking tenuous. With options vanishing quickly, the Obama Administration rapidly embraced Russian President Putin's offer to broker a solution to the chemical weapons issue, with some hesitation. Despite the move from bombs to diplomacy, the prospects for successfully extracting the Assad regime's weapons are poor, at best. US and Russian negotiators have been haggling over the details of an eventual deal, and the US has resisted Russian demands to take use of force off the table as an option. As concerns about an imminent military strike faded, so did crude. After peaking last week above $110, WTI crude fell to around $107 later in the week.
- The response to Apple's new smartphone models has not been a vote of confidence. After holding steady around $500 in the three weeks leading up to the announcement this week, shares of Apple have dropped approximately 8% to trade below $470. Apple launched two separate models for the first time: the high-end iPhone 5S and the more moderately priced iPhone 5C. Analysts dismissed the former for only offering incremental improvements over the iPhone 5 and the latter for being too expensive to appeal to its target markets in emerging economy nations. In addition, a widely expected deal between Apple and China's largest mobile provider, China Mobile (with 700M customers), has not closed yet.
- Dow Jones is making its first change to the DJIA in a year and some long-standing members are getting dropped. Alcoa is leaving the index after 54 years, in addition Bank of America and Hewlett-Packard. In their place, Goldman Sachs, Nike and Visa are being added to the Dow 30. Analysts point out that the swap of Goldman for BoA will have an outsized impact on the price-weighted index: at $169 a share, a 1% move in GS would add approximately 12 points to the DJIA, whereas a 1% move in BAC, priced at $14.50, only adds 1 point to the index. The changes are effective Sept 23rd.
- On Thursday, the Obama Administrations circulated its latest plan to curb CO2 emissions from power plants. The EPA proposal would limit emissions to 1,100 lbs of CO2 per megawatt hour for coal plants and 1,000 lbs for large gas-fired plants. These restrictions would effectively deter any construction of new coal-fired plants and are a stepping-stone for the Administration's forthcoming emissions standards for existing power plants, which are due in June 2014.
- Verizon sold $49B in bonds this week, comprising the largest corporate bond offer in history. Initially Verizon was looking to sell $20B in paper to fund the buy-out of its Verizon Wireless JV partner, Vodafone Group. But sustained demand for the debt deal - sources suggested the book rose above $90B - saw the company more than double the offering. The huge interest in the sale suggests investors are hunting for yield ahead of the Fed's big moment next week.
- The Shanghai Composite pushed out to its best levels in three months this week following an impressive recovery in August trade data. Meanwhile, August CPI fell to three-month lows, with the 2.6% annualized figure low enough to let Beijing leave its accommodative policies in place. After the trade data, the China NDRC estimated that 2013 Chinese imports would be up 7.3% y/y and exports up 9% y/y. At the same time, there were signs the government has still not managed to bring the real estate situation to heel. There were reports in Chinese media that both big, state-owned banks and smaller banks had temporarily halted issuing mortgages in Shanghai, Beijing, Guangzhou and Shenzhen, as well as some second- and third-tier cities.
- At the end of last week, dollar strength and Draghi's comments at the post-decision press conference had weighed on the euro. EUR/USD entered the week around 1.3170 and then rose a big figure in Monday trading. EUR/USD then bounced between 1.3250 and 1.3320 for the rest of the week. GBP/USD pushed out to seven-month highs above 1.5870 as the string of better UK economic data continued. Note that the UK August Jobless Claims fell for the 10th straight month, with the good data also reflected in the gradual climb in short-dated Gilt yields. Many analysts now believe the BoE might start tightening before the first half of 2015.
- The chart of USD/JPY this week looked much like last week's, but a little softer. The pair spent the mid-week period above 100 but then bounced lower as numerous Japanese officials said PM Abe had ordered the formulation of a new economic package by the end of September to help offset the planned sales tax hike. Tokyo won the nod to host the 2020 Olympics, which Abe has taken to calling the fourth arrow of his economic stimulus plan.
TradeTheNews
If you follow our trading log, you couldn't help but notice our rather spectacular performance in traditionally empty August - start of September market. How did we achieve that? By applying our setups described in 111 TRADES Online Course.
We are running a 10% discount for this course as a limited time and number of participants offer. Starting tomorrow and for the next 7 days, 7 courses are offered with coupon 15765B6679. Copy it and paste in Coupon Number field when signing up for the course. Offer will run from Sept 13th to Sept 21st or until 7 courses are purchased, whichever comes first!
Again, the coupon number:
15765B6679
Go here to read the Course description and purchase: http://www.realitytrader.com/111trades.html
TradeTheNews.com Weekly Market Update: Syria Attack Off the Table, Taper On Deck
- Global equity markets sustained another round of solid gains this week. The march to war in Syria abruptly gave way to diplomacy as Russian President Putin offered to broker a deal to get the Syrians to hand over their chemical weapons to international control. Market participants appear to be more comfortable with the idea that the Fed taper, with the initial reduction on deck for next week, will be gradual (and inevitable). Chinese August trade data out on Monday was very strong, suggesting that there has been no big slowdown in China. US initial jobless claims dropped to 292K in the week ended September 7th, the lowest figure since 2006, however the data was clouded by some technical problems in claims processing in two states. For the week, the DJIA gained 3%, the S&P500 added 2% and the Nasdaq rose 1.7%.
- The FOMC meets next week on Wednesday, Sept 18th, and the consensus view is that the Fed will decide for "taper light" of $10-15B (to $70-75B in purchases a month), with most if not all the reduction in USTs, not mortgage-backed securities. On Friday the Nikkei published a story asserting that President Obama would nominate Larry Summers as the next Fed chairman after next week's FOMC meeting. The White House later refuted the report, and sources said that there would be no announcement about the new chairman next week.
- By Monday, there was no chance of the House passing a resolution supporting the use of force in Syria and Senate passage was looking tenuous. With options vanishing quickly, the Obama Administration rapidly embraced Russian President Putin's offer to broker a solution to the chemical weapons issue, with some hesitation. Despite the move from bombs to diplomacy, the prospects for successfully extracting the Assad regime's weapons are poor, at best. US and Russian negotiators have been haggling over the details of an eventual deal, and the US has resisted Russian demands to take use of force off the table as an option. As concerns about an imminent military strike faded, so did crude. After peaking last week above $110, WTI crude fell to around $107 later in the week.
- The response to Apple's new smartphone models has not been a vote of confidence. After holding steady around $500 in the three weeks leading up to the announcement this week, shares of Apple have dropped approximately 8% to trade below $470. Apple launched two separate models for the first time: the high-end iPhone 5S and the more moderately priced iPhone 5C. Analysts dismissed the former for only offering incremental improvements over the iPhone 5 and the latter for being too expensive to appeal to its target markets in emerging economy nations. In addition, a widely expected deal between Apple and China's largest mobile provider, China Mobile (with 700M customers), has not closed yet.
- Dow Jones is making its first change to the DJIA in a year and some long-standing members are getting dropped. Alcoa is leaving the index after 54 years, in addition Bank of America and Hewlett-Packard. In their place, Goldman Sachs, Nike and Visa are being added to the Dow 30. Analysts point out that the swap of Goldman for BoA will have an outsized impact on the price-weighted index: at $169 a share, a 1% move in GS would add approximately 12 points to the DJIA, whereas a 1% move in BAC, priced at $14.50, only adds 1 point to the index. The changes are effective Sept 23rd.
- On Thursday, the Obama Administrations circulated its latest plan to curb CO2 emissions from power plants. The EPA proposal would limit emissions to 1,100 lbs of CO2 per megawatt hour for coal plants and 1,000 lbs for large gas-fired plants. These restrictions would effectively deter any construction of new coal-fired plants and are a stepping-stone for the Administration's forthcoming emissions standards for existing power plants, which are due in June 2014.
- Verizon sold $49B in bonds this week, comprising the largest corporate bond offer in history. Initially Verizon was looking to sell $20B in paper to fund the buy-out of its Verizon Wireless JV partner, Vodafone Group. But sustained demand for the debt deal - sources suggested the book rose above $90B - saw the company more than double the offering. The huge interest in the sale suggests investors are hunting for yield ahead of the Fed's big moment next week.
- The Shanghai Composite pushed out to its best levels in three months this week following an impressive recovery in August trade data. Meanwhile, August CPI fell to three-month lows, with the 2.6% annualized figure low enough to let Beijing leave its accommodative policies in place. After the trade data, the China NDRC estimated that 2013 Chinese imports would be up 7.3% y/y and exports up 9% y/y. At the same time, there were signs the government has still not managed to bring the real estate situation to heel. There were reports in Chinese media that both big, state-owned banks and smaller banks had temporarily halted issuing mortgages in Shanghai, Beijing, Guangzhou and Shenzhen, as well as some second- and third-tier cities.
- At the end of last week, dollar strength and Draghi's comments at the post-decision press conference had weighed on the euro. EUR/USD entered the week around 1.3170 and then rose a big figure in Monday trading. EUR/USD then bounced between 1.3250 and 1.3320 for the rest of the week. GBP/USD pushed out to seven-month highs above 1.5870 as the string of better UK economic data continued. Note that the UK August Jobless Claims fell for the 10th straight month, with the good data also reflected in the gradual climb in short-dated Gilt yields. Many analysts now believe the BoE might start tightening before the first half of 2015.
- The chart of USD/JPY this week looked much like last week's, but a little softer. The pair spent the mid-week period above 100 but then bounced lower as numerous Japanese officials said PM Abe had ordered the formulation of a new economic package by the end of September to help offset the planned sales tax hike. Tokyo won the nod to host the 2020 Olympics, which Abe has taken to calling the fourth arrow of his economic stimulus plan.
TradeTheNews
Sept 13 2013
Finishing week with another profitable even though lighter day. And a lot of jokes that helped deal with lower activity.
7 X 7 OFFER
If you follow our trading log, you couldn't help but notice our rather spectacular performance in traditionally empty August - start of September market. How did we achieve that? By applying our setups described in 111 TRADES Online Course.
We are running a 10% discount for this course as a limited time and number of participants offer. Starting tomorrow and for the next 7 days, 7 courses are offered with coupon 15765B6679. Copy it and paste in Coupon Number field when signing up for the course. Offer will run from Sept 13th to Sept 21st or until 7 courses are purchased, whichever comes first!
Again, the coupon number:
15765B6679
Go here to read the Course description and purchase: http://www.realitytrader.com/111trades.html
If you follow our trading log, you couldn't help but notice our rather spectacular performance in traditionally empty August - start of September market. How did we achieve that? By applying our setups described in 111 TRADES Online Course.
We are running a 10% discount for this course as a limited time and number of participants offer. Starting tomorrow and for the next 7 days, 7 courses are offered with coupon 15765B6679. Copy it and paste in Coupon Number field when signing up for the course. Offer will run from Sept 13th to Sept 21st or until 7 courses are purchased, whichever comes first!
Again, the coupon number:
15765B6679
Go here to read the Course description and purchase: http://www.realitytrader.com/111trades.html
Session Time: Fri Sep 13 00:00:00 2013
[09:04] {nemo} damn alcohol allergy
01[09:04] {&Threei} lol
[09:04] {nemo} stress of watching football last night
[09:12] {cipher} gm
01[09:12] {&Threei} cipher :)
[09:12] {RonS} gm
01[09:13] {&Threei} ron :)
[09:14] {goinshort} gm all
[09:14] {diego} hello guys!!! Now I'm official member this trading room
01[09:14] {&Threei} gs :)
01[09:14] {&Threei} welcome diego
[09:15] {diego} thanks Threei
[09:15] {goinshort} way to go !!!
[09:16] {nemo} well kinda'....now there's the gauntlet...not everybody survives
01[09:17] {&Threei} nemo, shut up and short gold
[09:17] {nemo} I'm not saying anything, I'm writing it
[09:18] {Will49} gm
01[09:18] {&Threei} will :)
[09:18] {Will49} another day in paradise
[09:19] {nemo} as long as I take my meds
[09:19] {Will49} :)
01[09:19] {&Threei} will meant our island, nemo, not your delightful company {G}
[09:19] {Will49} lol
[09:19] {nemo} queue grumpy cat
[09:20] {Will49} being with nemo is a form of paradise too
[09:20] {nemo} yeah, when you leave
01[09:20] {&Threei} along the line of that doctor who while inspecting a patient was murmuring "good, good,"
[09:20] {Will49} now, that's the nemo we love so much
01[09:21] {&Threei} and when asked what was good, said "that I don't have what you have"?
[09:21] {Will49} hahaha
[09:24] {ese} gm
01[09:24] {&Threei} ese :)
[09:26] {bbobr} morning
[09:26] {Alexs} gm
01[09:26] {&Threei} bbobr, alex :)
[09:28] {+cc_9} gm
01[09:28] {&Threei} cc9 :)
[09:30] {+cc_9} GDX trying it here
[09:30] {+cc_9} Long that is
[09:30] {+cc_9} 24.9 stop, target 26+
[09:31] {Alexs} you're optimist cc
01[09:31] {&Threei} Short Setup: GLD .15 break hl
01[09:31] {&Threei} If holds .25
[09:32] {+cc_9} thanks Alexs
[09:32] {Alexs} can't borrow gld
[09:33] {+cc_9} GLD shortable on our side.
01[09:33] {&Threei} somewhat strange opening, so keeping it half lot for now
01[09:34] {&Threei} no energy
[09:34] {+cc_9} SSYS trying to reverse
[09:34] {nemo} just the way bennie likes it, no volatility
01[09:34] {&Threei} 1:1
01[09:34] {&Threei} 1:2
[09:35] {robbers} Out, thanks a lot.
01[09:35] {&Threei} yw sir
[09:35] {Will49} nice start Vad
[09:35] {drewj} out ty vad
01[09:35] {&Threei} :)
[09:35] {cipher} very nice
01[09:35] {&Threei} 1:3, out
01[09:36] {&Threei} [09:17] {&Threei} nemo, shut up and short gold
01[09:36] {&Threei} lol
01[09:37] {&Threei} Long Setup: C .30 break
[09:37] {Will49} full?
01[09:37] {&Threei} If holds .24
01[09:37] {&Threei} yes
[09:38] {+cc_9} giddy up GDX, give me a new hod
01[09:41] {&Threei} a lot of hesitance
01[09:42] {&Threei} meh
01[09:42] {&Threei} (SY) US Sec State Kerry: US and Russia agree that no nation should use chemical weapons, agree that Syrian citizens died in Aug 21st gas attack
01[09:42] {&Threei} wow... what an achievemtn in agreeing
01[09:43] {&Threei} rinse
01[09:43] {&Threei} somg
[09:44] {nemo} ssys being a tease
[09:45] {+cc_9} nemo yes, needs to clear those 94s
01[09:45] {&Threei} Long Setup: JPM .45 break
01[09:45] {&Threei} If holds .35
[09:46] {+cc_9} and there she goes nemo SSYS
[09:47] {drewj} missed it
01[09:47] {&Threei} C, that was nasty of you
[09:47] {drewj} should i get into jpm now?
01[09:48] {&Threei} if it pulls back to trigger before reaching 1:1, yes
[09:48] {+cc_9} SSYS 94.50s
[09:49] {drewj} got it at .47
01[09:49] {&Threei} SPY is really unclear
01[09:49] {&Threei} let's trail stop to .39
[09:49] {nemo} maybe it was drinking while watching football last night
01[09:50] {&Threei} but I don't watch football
[09:50] {ese} Where is Dino when you need him .......ntes?
06[09:50] * &Threei kicks JPM in the rear
01[09:51] {&Threei} finally
01[09:51] {&Threei} 1:1
01[09:51] {&Threei} violence works
[09:51] {nemo} my watchword'
01[09:51] {&Threei} dino is enjoying golf, OK... but where is fish
01[09:51] {&Threei} jd
01[09:51] {&Threei} bryl
[09:52] {ese} You're sick the both of ya
01[09:52] {&Threei} man, people just throw money away
[09:52] {+cc_9} GDX :D
[09:54] {ese} oh oh Michigan
01[09:54] {&Threei} *(US) SEPT PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 76.8 V 82.0E
[09:54] {nemo} Yeah, frickin liberal heaven
[09:55] {ese} That's not good
01[09:55] {&Threei} well ese... you'll have to make a choice: sick and profitable or healthy and poor {G}
[09:55] {ese} Yeah your right I'll take the sick profitable thanks
01[09:55] {&Threei} there you go
01[09:55] {&Threei} welcome to the dark side
[09:56] {+cc_9} GDX blowing up baby
[09:56] {ese} I can be bought this is not a problem
[09:56] {nemo} dark side, light side, use both, unity of the one
01[09:56] {&Threei} as long as the price is right
01[09:56] {&Threei} anyone can
[09:56] {nemo} spoken like a true progressive, out both sides of his mouth
01[09:56] {&Threei} remember that joke about the queen, right?
01[09:57] {&Threei} market is confused:
[09:57] {Will49} that's a joke?
01[09:57] {&Threei} is bad news really bad considering that they make taper less likely?
[09:57] {nemo} ese should trade well today then
[09:57] {ese} Can't remember that one
[09:58] {ese} Ha ha ha ha
01[09:58] {&Threei} during some event in royal palace, conversation touched on women selling themselves
[09:58] {nemo} all women do, it's just a matter of price
[09:58] {ese} Woo hoo this is getting good
[09:58] {jdetente} Good morning.
01[09:59] {&Threei} and one noble gentleman expressed opinion that any woman can be bought as long as the price is right.
[09:59] {nemo} yeah, I'm very venal this morning
01[09:59] {&Threei} jd :)
[09:59] {jdetente} good timing to login
01[09:59] {&Threei} Queen was enraged,
[09:59] {ese} jd
01[09:59] {&Threei} *(US) JULY BUSINESS INVENTORIES: 0.4% V 0.2%E
01[09:59] {&Threei} told him no way
01[10:00] {&Threei} and as a matter of proof suggested him to try and name a price for her.
01[10:00] {&Threei} He said, well, what do you say about 100 pounds?
[10:00] {+cc_9} out of GDX 25.57 from 25.23
[10:00] {+cc_9} yes, I said tgt $26, but its Friday
01[10:00] {&Threei} Queen almost lost her breath,
[10:00] {ese} lol
[10:00] {nemo} no
01[10:00] {&Threei} then screamed: 100 pounds?/ For me} The Queen??
[10:00] {nemo} how about 1 million
[10:00] {nemo} well, the queen said
01[10:00] {&Threei} Guy smiled and said:
[10:01] {nemo} see, we're just quibbling on price
01[10:01] {&Threei} see my queen, you are already negotiating
[10:01] {nemo} yeah, I have two requirements in a woman
[10:01] {nemo} 1. no gag reflex
[10:01] {nemo} 2. trust fund
01[10:02] {&Threei} missed couple good ones, jd
[10:02] {RonS} j giles: first i look at the purse
01[10:02] {&Threei} trades, not jokes
[10:02] {+cc_9} GDX on fire, still ripping
[10:02] {nemo} I used to see them all the time. THey're from around here
01[10:02] {&Threei} that was a good one cc9
[10:02] {nemo} Actually, funny. J. Geils=his last name means "horny" in German
01[10:03] {&Threei} JPM, out balance on a trail
[10:03] {nemo} 25.80 level gonna' get iffy on gdx
01[10:03] {&Threei} btw nemo
01[10:03] {&Threei} you remember your yesterday's joke about Les?
[10:04] {nemo} so many jokes about Les so much alcohol last night
01[10:04] {&Threei} well, I have something from him for you
[10:04] {nemo} lucky me
06[10:04] * &Threei slaps nemo around a bit with a nail studded freshly skinned rabbit pelt, per Les request and on his behalf
[10:04] {nemo} I'm gonna kill that mother......
[10:05] {nemo} transgressions against bunny are over the line
01[10:06] {&Threei} Short Setup: CAT .85 break hl
01[10:06] {&Threei} ugh
01[10:06] {&Threei} late
[10:06] {Will49} milk=mother I'd love to kill
01[10:07] {&Threei} patel... one more late sleeper missing good trades
[10:09] {nemo} here are strong and weak stocks currently: http://bit.ly/1dZdQfB
[10:09] {drewj} fb bottom coming?
01[10:10] {&Threei} watching it
[10:10] {nemo} nah
[10:10] {nemo} watch for 44 bounce
01[10:10] {&Threei} (CH) Switzlerland National Bank's (SNB) Jordan: Too big to fail issue for financial institutions has yet to be solved
01[10:10] {&Threei} no sh*t Sherlock
01[10:11] {&Threei} no news FB
[10:11] {nemo} those tails look like fb a bit farther to go
01[10:11] {&Threei} one more leg FB... ideally from under 44.10
[10:11] {+cc_9} FB news is that Twitter is going public
[10:12] {RonS} yep
01[10:12] {&Threei} well, that was known overnight
[10:12] {nemo} that story been out for awhile
01[10:14] {&Threei} got away
[10:15] {RonS} man, still pouring outside...unreal
[10:16] {Will49} anybody building an ark yet?
[10:17] {RonS} boulder got 7 inches from 7pm wed night thru 9am thurs
[10:17] {nemo} that's what Colorado gets for those gun laws
[10:18] {Will49} that's waht happens when you legalize MJ
[10:18] {RonS} ave annual rainfall (including snow) is 14 in around here
[10:18] {nemo} MJ was legal until 1917
[10:18] {Will49} yeah, i remember:)
[10:18] {RonS} lol
[10:19] {RonS} lady state senator that was recalled: "but we still like people"
01[10:22] {&Threei} Long Setup: FB .20 break
01[10:22] {&Threei} If holds .10
01[10:26] {&Threei} let's trail stop to .14
[10:26] {nemo} two way, this could go to 43 today
01[10:26] {&Threei} no confidence in recovery
[10:26] {Alexs} it crossed 1:1 didn't it
01[10:26] {&Threei} out
01[10:27] {&Threei} I didn't see it higher than .28
01[10:27] {&Threei} did it?
[10:27] {drewj} god call nemo
[10:27] {drewj} good
[10:28] {Alexs} 10:25 44.31
[10:28] {Will49} fruedian slip drew
[10:28] {nemo} P looks short if it drops .70
[10:28] {drewj} :)
01[10:28] {&Threei} got distracted fior a min then
01[10:28] {&Threei} then it's normal play
01[10:28] {&Threei} half n half
[10:28] {drewj} let me give the man his props...
[10:29] {drewj} we can ridicule him later:)
01[10:29] {&Threei} that's the spirit
[10:30] {Will49} ridicule nemo...well I never....!
[10:30] {nemo} smart man
[10:30] {drewj} no you ALWAYS
[10:30] {nemo} no matter what ur wife says
[10:30] {drewj} and so begins the downward spiral...
[10:31] {nemo} shit...we've been circling the drain for years
[10:31] {nemo} livin' life on the edge
[10:31] {Will49} that's Vad's rule drew, after first hour we insult each other
[10:32] {drewj} I guess we can start in 2 minutes then
[10:33] {drewj} double bottom in iwm?
01[10:34] {&Threei} well, yes but thwe entry was .20
[10:34] {nemo} .37 is vwap on IWM which is also resistance area
[10:34] {drewj} so entry on DB's is below the bounce?
01[10:35] {&Threei} ?
[10:35] {drewj} nevermind...my questions confuse me.
[10:35] {nemo} he must be an english teacher
[10:35] {drewj} I hear you use good grammar...
[10:36] {nemo} arguable
[10:36] {drewj} will? nothing?
[10:36] {Will49} you're doing fine
[10:36] {RonS} hilarious
[10:36] {Will49} or doing well?
01[10:36] {&Threei} lol
[10:36] {drewj} awesome will
[10:37] {RonS} gme squeezon...17% float short
[10:37] {Will49} my nose is still bleeding after getting in ring with nemo
[10:37] {RonS} sqeezin
[10:37] {Will49} so,glad to have you here drew
[10:37] {RonS} both have nose rings?
[10:38] {nemo} think I'll get some yogurt..
[10:38] {Will49} lol
[10:38] {drewj} thanks will...there's safety in numbers.
[10:38] {Will49} real traders don't eat yogurt
01[10:38] {&Threei} only raw bear meat?
[10:38] {drewj} what a wus, huh?
[10:38] {Will49} yikes
[10:39] {drewj} yogurt is for girls
[10:39] {Will49} don't go any further drew
[10:39] {Will49} dangerous
[10:40] {drewj} ok...serious face now
[10:40] {Will49} atta boy
01[10:40] {&Threei} yeah, gotta listen to that buzz from the wasp nest, drew
01[10:40] {&Threei} when it reaches certain level, take cover
[10:40] {Will49} when nemo gets back from the ice box, he'll be all over you
[10:41] {drewj} ok. I'll go look at a chart or something.
[10:41] {Will49} I don't even want to watch
01[10:41] {&Threei} and those rusty nails on his 2x4 are generously covered with poison from dart frogs
[10:42] {drewj} hey. you guys have the insult after the first hour rule. I learned it by watching you.
01[10:43] {&Threei} Long Setup: CAT .90 break hl
01[10:43] {&Threei} If holds .80
01[10:44] {&Threei} ok kitty... give us 1:3
01[10:44] {&Threei} this is nice JBE
01[10:46] {&Threei} sheesh... SPY
01[10:46] {&Threei} meh
01[10:47] {&Threei} not really conducive market today, jellyfish
01[10:47] {&Threei} keep risk low
[10:47] {Will49} let's tell jokes then
[10:47] {drewj} way to be positive will
01[10:47] {&Threei} if this is a rinse, switching to DKTK setups
[10:48] {drewj} you're still in?
01[10:48] {&Threei} no
[10:48] {nemo} all this positivity wants to make me puke
01[10:48] {&Threei} lol
[10:48] {Will49} heeeees back!
[10:48] {drewj} well then this freakin sucks
01[10:48] {&Threei} life of a trader:
01[10:48] {&Threei} djust to new conditions,
[10:48] {bbobr} DKTK ?
01[10:48] {&Threei} have a winning streak,
[10:49] {Will49} i was afraid to ask bbor
01[10:49] {&Threei} run into another change, have a 1-3 days of readjustment period,
01[10:49] {&Threei} go intio another winning streak.
01[10:49] {&Threei} Thus, risk management becomes paramount:
01[10:49] {&Threei} when in adjustment period, make sure risk is controlled stroctly
[10:49] {nemo} KY is standard equipment, along with hemmrhoid pillows
01[10:50] {&Threei} so there is no lasting damage,
01[10:50] {&Threei} then during winning streak increase activity
01[10:50] {&Threei} and squeeze all market has.
[10:50] {nemo} ctxs
01[10:50] {&Threei} Most of all, stay sensitive to changes,
01[10:50] {&Threei} but here we are getting into Taoist Trader territory
01[10:51] {&Threei} and I am not retyping that massive work :)
[10:51] {nemo} he can lie still like a corpse
01[10:51] {&Threei} DKTK:
[10:51] {nemo} or rise like a dragon
01[10:51] {&Threei} when a few standard setups are rinsed,
[10:51] {nemo} actually let me find the quote
01[10:51] {&Threei} you start letting a trigger gom waiting for a rinse, then enter AFTER the stops are hit,
01[10:52] {&Threei} and abbreviation stand for Don't Kid The Kidder
01[10:52] {&Threei} to illustrate:
[10:52] {Will49} guess the jokes are out drew
01[10:52] {&Threei} in CAT's case, you'd skip .90 break, wait for drop under .80 where stops are taken out and enter long on .80 recross
01[10:53] {&Threei} you may remember, we had a few weeks like this in July
[10:53] {Will49} and that's no joke!
01[10:53] {&Threei} when we switched to this kind of setups
01[10:53] {&Threei} worked like charm
[10:54] {drewj} so more aggressive entries?
[10:54] {Alexs} lol
01[10:54] {&Threei} actually, it's a mix of aggressive and conservative, since you enter after the break and pullback, but at the price more characteristic for aggressive
01[10:54] {&Threei} call it a hybrid
[10:55] {Will49} kind of thing Obama would do
01[10:56] {&Threei} did I say progressive?
[10:56] {Will49} it's a joke
01[10:56] {&Threei} he is not aggressive conservative, he is aggressive progressive {G}
01[10:56] {&Threei} man... and this is my second language
01[10:56] {&Threei} imagine what I can do in my native
[10:56] {Will49} you da man
01[10:57] {&Threei} last time I checked, yeah
[10:57] {Will49} lol
[10:57] {Will49} and when was that?
[10:57] {drewj} nothing on that one nemo?
[10:57] {Will49} you are a chit disturber drew
01[10:57] {&Threei} lol
[10:58] {Will49} unlike the rest of us here
[10:58] {drewj} oh great. now i have label. chit disturber.
[10:58] {Will49} better tha Les
[10:58] {Will49} than
[10:58] {nemo} ahhhh, here it is:
[10:58] {drewj} what can i say. i'm just bored.
[10:59] {Will49} doesn't take YOU long, eh?
[10:59] {nemo} he can sit still like a corpse or spring into action like a dragon, be silent as the deep or talk with the voice of thunder, the movements of his spirit calling forth the natural mechanism of Heaven
[10:59] {drewj} nice
[10:59] {Will49} ooooh
[11:00] {nemo} from Chuang Tzu's essay "The Doctrine of Inaction"
[11:00] {Will49} Obama?
01[11:00] {&Threei} rofl
[11:00] {drewj} sorry...db on fb
[11:00] {drewj} ?
[11:01] {drewj} just hit 44
01[11:01] {&Threei} no
01[11:01] {&Threei} I'd rather look for short on all out breakdown
01[11:01] {&Threei} inverted C&H
01[11:01] {&Threei} Short Setup: FB 44 break
[11:01] {drewj} ok
[11:01] {nemo} please don't blaspheme the writings with such luddite references
01[11:01] {&Threei} If holds .10
[11:02] {nemo} or long above .10
01[11:02] {&Threei} Invalidated
[11:02] {drewj} no bickering please...
[11:03] {nemo} it's a two-way you frickin' noob
01[11:03] {&Threei} well, many setups can be faded on invalidation
[11:03] {drewj} don't be mean.
[11:03] {nemo} absolutely
01[11:03] {&Threei} but in this case, I am not delighted by long idea
01[11:03] {&Threei} nemo who is not mean?
01[11:03] {&Threei} come on
01[11:03] {&Threei} mind boggles at the attempt to envision that
[11:04] {nemo} when I start talking about your mother, then I'm getting mean
01[11:04] {&Threei} it's like firetrack with no water...
01[11:04] {&Threei} cheerleader with no pompons...
[11:04] {nemo} or Vad without a dictionary
[11:05] {drewj} if you would have faded that whould the target have been ..35?
[11:05] {Will49} nemo without a target
01[11:05] {&Threei} I can do without dictionary
[11:05] {drewj} but if you need help with grammar I know a guy
[11:05] {nemo} resistance Will, then vwap
[11:05] {Will49} meant someone to insult
01[11:05] {&Threei} rather would exit just under .30
01[11:06] {&Threei} Short Setup: FB .10 break
[11:06] {drewj} into conjestion...?
01[11:06] {&Threei} let's try aggressive
01[11:06] {&Threei} If holds .20
01[11:07] {&Threei} if my vision is right, it's still the same inverted C&H
01[11:07] {&Threei} just a big deeper handle
01[11:07] {&Threei} and aggressive entry is one of the best in such cases, just as handle reverses
[11:07] {nemo} wow, spy not even 26 million shares yet
01[11:07] {&Threei} yeah, jellyfishy day
01[11:08] {&Threei} 1:1
01[11:08] {&Threei} give us real break FB
01[11:08] {&Threei} good boy
01[11:08] {&Threei} now dies
01[11:08] {&Threei} -s
01[11:09] {&Threei} die more... die faster...
01[11:10] {&Threei} come on, don't be a scalp
[11:11] {Will49} all together now....don't be a scalp
[11:11] {drewj} i'll light some candles
01[11:11] {&Threei} dirty rotten scoundrel
[11:11] {drewj} out?
01[11:11] {&Threei} of course
01[11:11] {&Threei} SOP drew
01[11:12] {&Threei} half out at 1:1, trail stop to b.e
[11:12] {drewj} ok
01[11:12] {&Threei} this is not a some kind of voluntary invention
01[11:12] {&Threei} it's based on market logic
01[11:13] {&Threei} former resitance becomes new support
[11:13] {drewj} ok?
01[11:13] {&Threei} former support becomes new resistance
01[11:13] {&Threei} .10 weas a support, break of which gave us a trigger
01[11:13] {&Threei} after 1:1 is reached, this forner support became new resistance,
[11:14] {drewj} to make sure that the trader doesn't act like a jellyfish
01[11:14] {&Threei} if price goes above resistance, why would you want to remain shortZ?
[11:14] {drewj} training wheels
01[11:14] {&Threei} that's what all this levels and trails are based on
[11:14] {drewj} makes sense
01[11:16] {&Threei} look what would have happened if we haven't trailed stop
01[11:16] {&Threei} profitable tarde would sudenly turn into losing one
[11:16] {nemo} sheesh mos
01[11:17] {&Threei} (GR) Oct loan tranche said to be possibly delayed; Greece expects financing gap in 2016 at approx €10-15B - financial press- Greece Govt said to not be seeking a haircut option for debt
01[11:17] {&Threei} hmm
01[11:18] {&Threei} no news that I see MOS
01[11:22] {&Threei} Russia investor Kerimov said to to sell stake in Uralkali for $3.7B - Russia press- Reminder: On 9/10 reports were that Kerimov was interested in selling the stake in order to reduce tensions with Belarus; with interested parties speculated to be Norilsk Nickel and other Russian investors. **Reminder: On Sept 9th, there were press reports that shareholder Kerimov might sell his 22% stake. On Sept 10th, Uralkali's CFO said there was no official information regarding a possible change to shareholder structure of Uralkali.
[11:22] {+cc_9} MOS / POT / AGU / CF all ferts
01[11:23] {&Threei} so, Kerimov needs pocket money, MOS and other fertilizers jump a few bucks
01[11:26] {&Threei} so, to finish a thought interrupted by a trade
01[11:27] {&Threei} 11:05] {&Threei} I can do without dictionary - I am equally effective beating people up with child books or classic literature tomes
01[11:27] {&Threei} remember that beautiful bar fight with Goete volume...
01[11:28] {&Threei} btw, note that regular entry on FB would have failed
01[11:29] {&Threei} note also that long at .10 priot to that would have failed too
01[11:29] {&Threei} rinse both ways
01[11:30] {&Threei} the one we chose, aggressive entry, is about the only one making money
01[11:38] {&Threei} Short Setup: MOS .90 break hl
01[11:38] {&Threei} If holds 46
[11:38] {nemo} two way?
01[11:38] {&Threei} valid
01[11:38] {&Threei} no
[11:39] {Will49} no to what?
01[11:39] {&Threei} to nemo
[11:39] {Will49} :)
01[11:39] {&Threei} who wants two way
01[11:40] {&Threei} meh
[11:40] {Will49} heard nemo wants three way
[11:41] {nemo} nah, now I'll settle for leaning back with a glass of wine
[11:41] {Will49} getting old
[11:41] {nemo} conserving energy...let somebody else do the work ;-)
[11:41] {Will49} how about you, the GF and bunny?
[11:41] {nemo} FB
[11:41] {Will49} just tryin' to help:)
[11:42] {nemo} you seen bunny's teeth?!!!
[11:42] {Will49} no, GF's either
[11:42] {nemo} she yawns, I think Alien, wow
[11:42] {Will49} :)
[11:42] {nemo} make the FWB take the dentures out
[11:43] {Will49} yikes
[11:43] {Will49} too much information, as my kids used to say
[11:44] {nemo} expe dripping away
[11:48] {nemo} expe again, that's probably it for the bounce
01[12:03] {&Threei} Long Setup: FCX .25 break
01[12:04] {&Threei} If holds .20
[12:07] {Alexs} what target do you see in FCX Vad?
01[12:08] {&Threei} it's doesn't have any indication on the upside limit
[12:08] {Alexs} sounds scary
01[12:08] {&Threei} other than time of the day, nothing would keep me from aiming for 1:3
01[12:09] {&Threei} ;ppl at daily
01[12:09] {&Threei} look
01[12:09] {&Threei} you are scared easily Alex :)
[12:10] {Alexs} true
01[12:10] {&Threei} leave emotions at the door
01[12:10] {&Threei} enter, exit, go to the next
01[12:10] {&Threei} not all trades and not all days work
01[12:11] {&Threei} we had 4 great days this week
01[12:11] {&Threei} today is empty and boring
01[12:11] {&Threei} and random
01[12:11] {&Threei} keep risk down and look for the best setups
[12:11] {Will49} story of my life
[12:13] {Will49} it's a joke :)
[12:20] {nemo} your life is a joke?
[12:37] {RonS} rip Dr Ray Dolby...used to see Dr Ray when i worked in the City...always a class act...
[12:38] {Will49} nemo..a joke that my life is empty, boring and random
[12:39] {nemo} .45 acp
[12:39] {Will49} fortunately (so far) life has been full, exciting and very goal oriented
[12:40] {Will49} so, learning to trade the Graifer Way at my age is just another in a long line of challenges
[12:40] {nemo} then think of it as a favor to us
[12:41] {Will49} did you just say a nice thing?
[12:41] {Will49} or am I dreaming?
[12:41] {nemo} depends on your point of view
[12:41] {Will49} I'll take it as a compliment then
[12:41] {Will49} thanks
01[12:42] {&Threei} happens evento nemo sometimes, will
[12:42] {Will49} lol
[12:42] {nemo} funny...no way would I interpret my statments as nice. Will is attending the Les school of logic
01[12:43] {&Threei} you know... walking down the street, tripping of something, falling, hitting his head of a conrner of a building, blacking out... coming out of itm saying something nice
01[12:43] {&Threei} a few seconds later shaking it off
01[12:44] {&Threei} and becoming his usual nasty self that we come to know and love
01[12:52] {&Threei} Long Setup: MOS .40 break hl
01[12:52] {&Threei} If holds .30
[12:56] {Will49} shhhesh...now I have to leave the pleasant thoughts of Nemo and get back to trading
01[12:57] {&Threei} i'ts not compulsory
[12:57] {nemo} hah! neither is survival...
[12:57] {Will49} LOL
01[12:57] {&Threei} lol
01[13:10] {&Threei} 1:1
[13:10] {nemo} you might want to try and hold a piece of mos
[13:11] {nemo} this is the kind of action that an afternoon run could really go
[13:11] {nemo} gdx vad
01[13:12] {&Threei} miised short at .30
[13:12] {+cc_9} VPHM whoa
01[13:12] {&Threei} don't want to chase at this time
[13:12] {nemo} setting up for bounce me thinks
01[13:13] {&Threei} I'd prefer to use bounce to short into rather than play it long
[13:15] {+cc_9} VPHM, anyone feeling a quick short trade ? :)
[13:15] {+cc_9} its just M&A chatter
[13:15] {nemo} dino, but he's on the links
01[13:16] {&Threei} ViroPharma Incorporated Shire and Sanofi said to be interested in acquiring the company; VPHM said to have hired advisors to evaluate sale efforts - financial press
[13:17] {+cc_9} M&A plays are good fade plays
[13:17] {nemo} indexes coming in
[13:17] {+cc_9} no surprise if VPHM ends up going down to 36
[13:18] {+cc_9} There she goes, coming down already :)
[13:34] {+cc_9} VPHM, should get a nice flush on 37 bid break
[13:35] {nemo} iwm walking up longer term trend line, spy looks weak
[13:41] {nemo} wow 42.6 million spy shares
01[13:49] {&Threei} Short Setup: GDX .20 break
01[13:49] {&Threei} If holds .30
[13:49] {nemo} Chicks=Making men do stupid things since the dawn of time.: http://bit.ly/1e9Smvx
[13:50] {nemo} spy roof at .32
01[13:51] {&Threei} darwin in action
[13:57] {nemo} looking for index breakdowns...everything weakening although not strongly
[13:57] {Will49} and then it will get stronger but weaker
[13:58] {nemo} tmi will
[13:59] {Will49} is that like kma?
[13:59] {nemo} doubtful
[14:01] {Will49} I know...that was weak! Just trying to keep Les' seat warm (pun)
[14:01] {nemo} yeah, didn't know if you informing us of your BO and incontinence issues
[14:02] {Will49} :)
[14:02] {Will49} have BO under control
01[14:02] {&Threei} stop to .26
01[14:03] {&Threei} (CN) IMF issues comments on G20 imbalances: Spain's imbalances are correcting, China growth is unsustainably reliant on credit- India faces tough choices to fix fiscal imbalances - US fiscal outlook has improved but remains a major concern - Japan's fiscal position is vulnerable to yield increases - market based Yuan rates will help China's economy
01[14:05] {&Threei} 1:1
01[14:10] {&Threei} however boring today is, it's still profitable
01[14:10] {&Threei} albeit lighter than 4 days before
[14:11] {Will49} so this is what Friday trading is all about, eh?
01[14:12] {&Threei} often... not always
01[14:12] {&Threei} nothing is always
01[14:12] {&Threei} as we saw in example of nemo being nice
[14:12] {Will49} so much is often
01[14:13] {&Threei} Let me sum it up in this aphorism I coined a few seconds ago
01[14:13] {&Threei} Most is Often. Some is Seldome. Nothing is Always.
[14:13] {nemo} If peace, order, and the pursuit of happiness are invisible things,
[14:13] {nemo} obviously they can not be really obtained by visible means.
01[14:14] {&Threei} and Nothing is Never
[14:14] {Will49} my head hurts
01[14:14] {&Threei} heck... I might make a history with this
01[14:15] {&Threei} btw, mistype in seldom is intentional - to make it waternarked so to speak
01[14:15] {&Threei} come on nemo, admit... it's not Lao Tze but it's not half bad eh?
[14:16] {Will49} waternarked=caught by the cops by boat
01[14:16] {&Threei} lol
[14:16] {Will49} ok Vad....not bad
01[14:16] {&Threei} ty
01[14:17] {&Threei} btw alex
01[14:17] {&Threei} getting back to those emotions we spoke of earlier
01[14:17] {&Threei} remember beatiful phrase I stubled onto a few days ago
01[14:18] {&Threei} remembered
[14:18] {nemo} oh sheesh, are we getting back into Will's bestiality
01[14:18] {&Threei} Don't let emotional tail wag the rational dog
[14:18] {nemo} so.....stay away from women
[14:18] {Will49} tail/ dog?....bestiallity
01[14:19] {&Threei} why nemo... just deal with them rationally
[14:19] {nemo} now that's a formula for suffering
[14:19] {Will49} yeah vad...what the hell?
[14:42] {Will49} testing 1,2,3 testing...anyone out there in Vadspace?
[14:42] {Will49} didn't think so"(
[14:43] {Will49} :(
01[14:44] {&Threei} lol
[14:44] {Will49} ahah!
01[14:44] {&Threei} wait about 15-20 min more, then we will start looking for last hour trades
[14:45] {Will49} you're so kind
01[14:45] {&Threei} I am?
[14:46] {Will49} of course!
01[14:46] {&Threei} gotta work on that...
[14:46] {Will49} don't take it literally though...it's really a figure of speach
[14:47] {Will49} Brits use it to mean "thank you"
01[14:48] {&Threei} I know... but I prefer to pretend I take everything at face value
01[14:48] {&Threei} this way I look naive and gullible
01[14:49] {&Threei} and I really am
[14:49] {Will49} your so kind
01[14:49] {&Threei} my what?
01[14:50] {&Threei} lol
[14:50] {Will49} thought you were talking about Obama there for a minute
[14:51] {Will49} the pretend" part
[14:52] {Will49} hmmm...thought that would get a rise out of at least one of our Yank members:)
[14:52] {nemo} ese here?
[14:52] {Will49} in school
[14:53] {Will49} Friday the teachers all leave at noon and get drunk
[14:55] {Will49} nemo...how do you feel about we Canucks insulting the POTUS?
[14:55] {nemo} couldn't care less
[14:55] {Will49} where's your patriotism?
[14:56] {RonS} just don't do it around ese...would hurt his feelings...
[14:56] {Will49} true dat
[14:56] {nemo} yeah ese gets out the kneepads for O
[14:56] {Will49} lol
[15:08] {+cc_9} good afternoon
[15:18] {nemo} oxy
[15:19] {RonS} contin
[15:19] {Will49} ha
[15:19] {nemo} Ron's bored
[15:20] {nemo} close to bounce me thinks
01[15:20] {&Threei} lol
[15:20] {Will49} who Ron?
[15:20] {nemo} oxy
01[15:20] {&Threei} Long Setup: C .50 break
01[15:20] {&Threei} If holds .45
[15:20] {nemo} iwm just grinds, no pullback to speak of
[15:27] {jdetente} slow grind...reminds one of the champagne room
01[15:28] {&Threei} if GLD moves above .50 will look for short on recross
01[15:28] {&Threei} double top
01[15:28] {&Threei} grrr
01[15:28] {&Threei} got away
01[15:29] {&Threei} C is two sided
01[15:30] {&Threei} short .45 break
01[15:30] {&Threei} with stop above .50
01[15:35] {&Threei} Short Setup: GLD .50 break
[15:35] {+cc_9} AAPL volume bar @ LOD nuts
[15:35] {+cc_9} 250k
01[15:35] {&Threei} If holds .60
01[15:36] {&Threei} Invalidated
01[15:36] {&Threei} should have faded it, lol
[15:36] {jdetente} still doing C short?
01[15:37] {&Threei} yes
[15:40] {nemo} sheesh, gdx today
[15:41] {nemo} 55.4 million spy shares, I think 48ish was the low volume in august
[15:42] {+cc_9} nemo, here is a link to check : http://finance.yahoo.com/q/hp?s=SPY+Historical+Prices
[15:42] {nemo} vphm ain't giving it up today
[15:43] {nemo} 54
[15:43] {+cc_9} yup
[15:43] {nemo} love this august action
[15:44] {+cc_9} VPHM lowest it hit was $37, will revisit Monday
[15:46] {robbers} Signing off, thanks for a good week, Vad. Take Care.
01[15:46] {&Threei} take vcare robbers, see you Monday
[15:46] {Will49} cheers rob
01[15:52] {&Threei} time's running out
01[15:52] {&Threei} die quickly C
01[15:55] {&Threei} doesn't want to do anything, quickly or not, lol
01[15:55] {&Threei} ok guys
01[15:55] {&Threei} thank you all, have a great weekend
01[15:56] {&Threei} see you Monday!
[15:56] {Will49} cheers guys
[15:56] {bbobr} gn all
[15:56] {jdetente} see you all next week
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