Wednesday, May 11, 2011

May 11 2011

Nicely profitable day with one stop and 4 or 5 winning trades.

Session Time: Wed May 11 00:00:00 2011
[08:56] {dino} gm all
[08:56] {Threei}  morning dino
[08:58] {dino} :)
[09:01] {_ebelog} I have a question about position sizing, I am trading with 100k I understand that the fine tuning of the position depends on liquidity of stock and I would guess its beta, but is 10% a good starting trade amount per trade as a general rule, thanks
[09:01] {Threei}  it has everything to do with risk control
[09:01] {Threei}  general rule is:
[09:02] {Threei}  do not lose on any single trade more than 1-2% of your trading capital
[09:02] {Threei}  so, knowing your stop sizxe dictated by the chart,
[09:02] {Threei}  and using that rule
[09:02] {Threei}  you come to your position size.
[09:02] {Threei}  To cite an example:
[09:02] {Threei}  if your capital is 100K,
[09:03] {Threei}  1% loss on any given trade gives you 1K loss
[09:03] {Threei}  stop size as dictated by chart is, say 20 cents
[09:03] {Threei}  by looking at the level 2 you see slippage as 5 cents,
[09:04] {Threei}  to lose 1K on 25 cents stop, you get your position size as 4K
[09:04] {Threei}  Now, that can be a bit too much
[09:04] {Threei}  as there is also commissions
[09:05] {Threei}  and liquidity with such lot can not be enough for 5 cents slippage
[09:05] {Threei}  so cut it some more, especially at the first stages of learning
[09:05] {Threei}  when training wheels should be used
[09:06] {Threei}  some more on that:
[09:06] {Threei}  http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[09:07] {Threei}  makes sense?
[09:09] {_ebelog} sure so let me give specific example if bid ask is 5 cent spread that would be a more illiquid stock so I should pare back my exposure?
[09:09] {Threei}  absolutely
[09:09] {Threei}  5 cents is nasty spread,
[09:09] {Threei}  plus, pay attention to sizes displayed
[09:10] {_ebelog} Would you even trade a spread like that
[09:10] {Threei}  sure - with reasonable size
[09:10] {Threei}  dino plays stocks with 20-30 cents
[09:10] {_ebelog} ok so if 1000s of shares on bid and ask then?
[09:11] {Threei}  that's good size
[09:11] {Threei}  but if you see couple 100 shares bids and offers, 5 cents spread,
[09:11] {Threei}  a few cents gap between levels,
[09:11] {Threei}  that's illiquid stock, your slippage is likely to be bigger
[09:12] {Threei}  so, no way to play 4-5K shares
[09:12] {Threei}  even 1K can be too much if you want to keep stop tight
[09:13] {_ebelog} I am trading with IB and they offer many different etns to trade via per stock vs just using their smart system which I guess aggregates them, is it better to use their routing system or look at each etn separately
[09:13] {Threei}  I never traded wwith them
[09:13] {Threei}  no idea how effective heir smart routing is
[09:13] {nemo} they charge you more I believe when you don't use their routing system
[09:14] {_samire} gm all
[09:15] {Threei}  morning samire
[09:15] {_samire} it was green day 4 me yesterday (For a change)
[09:15] {Threei}  good to hear
[09:16] {Threei}  especially if our room had anything to do with that
[09:16] {nemo} probably got him started on painkillers
[09:17] {_ebelog} Ok so SLW for example is 38.70 now I would trade 600 sh if I had a 15 cent stop on 100k, does this make sense?
[09:18] {nemo} why is your stop at .15?
[09:18] {nemo} next support I see is .20 below
[09:18] {_ebelog} sorry I mean a .15 loss sorry
[09:18] {Threei}  600 x .15 gives you a loss of 90 bucks
[09:19] {_ebelog} I mean 6000 sh
[09:19] {Threei}  900 then
[09:19] {Threei}  a bit too much for SLW liquidity
[09:19] {Threei}  especially at the open when volatility is too big
[09:19] {Threei}  and certainly way too much if you are a beginner
[09:20] {Threei}  I would say: 600 is a good training size,
[09:20] {_ebelog} So if you set stop at 38.60 and break at 38.75 just as an example if chart was lining up that way, oh ok so i would cut that in half
[09:20] {_ebelog} oh ok I got it
[09:20] {nemo} ask me about trading too many shares when the losses start piling up...also, you'll be surprised at the fills you don't get
[09:20] {Threei}  move it to 1000 when you feel more confident,
[09:20] {Threei}  then increase as you become proficient
[09:21] {Threei}  whole procedure of initial size and increasing it as learning progresses is described in MPP
[09:25] {ese} morning
[09:25] {dino} =samire, wtg
[09:25] {Threei}  ese :)
[09:29] {Threei}  SLW doesn't even wait for the market to open
[09:29] {jfjf64} morning
[09:30] {Threei}  EUR/USD Euro weakness attributed to US think tank report circulating on periphery concerns
[09:30] {Threei}  jf :)
[09:30] {Threei} Short Setup: RIMM  .10 break half lot
[09:31] {Threei}  double-sided setup
[09:31] {Threei}  .20 upper side
[09:31] {Threei}  half lot either way
[09:32] {nemo} ROVI
[09:33] {jfjf64} ty rimm
[09:33] {Threei}  :)
[09:33] {jfjf64} you half in
[09:33] {Threei}  no, too fast drop
[09:33] {Threei}  but same setup is valid again
[09:34] {jfjf64} took .07
[09:34] {Threei}  short side only for now
[09:35] {Threei}  stop to .16
[09:35] {Threei}  holding too well
[09:35] {jfjf64} fcx hammer drop
[09:35] {Threei}  ugh, missed SLW bounce
[09:35] {Threei}  reversed too fast for a call
[09:37] {ese} ok thats 2stocks that i didn't have enough of dinos nerve to do ..IL and NRGY.....was onto both couldn't pull the trigger
[09:37] {Threei}  1:1 again
[09:37] {Threei}  stop to .11 if partialing
[09:38] {jfjf64} slw
[09:38] {jfjf64} nother leg down
[09:38] {jfjf64} imo
[09:38] {Threei}  SLW becomes bounce candidate
[09:39] {jfjf64} what i know
[09:40] {Threei}  didn't give clean entry
[09:40] {Threei}  stll waiting for a good play on it
[09:40] {Threei}  meanwhile nibbling on RIMM as a breakfast
[09:40] {dino} panl sm l .00 break, pulp type
[09:41] {Threei}  ebelog, see dino's type of play on PANL as example of low liquidity
[09:41] {Threei}  RIMM 1:3
[09:41] {Threei}  me out
[09:41] {nemo} actually, panl is high for him
[09:41] {dino} don't follow me eb
[09:42] {Threei}  US) Senator Schumer (D-NY): Concerned that markets may react in July if Congress does not provide clear signs that it intends to raise the debt limit
[09:42] {Threei}  - REMINDER from 5/2: Treasury Sec Geithner: Debt ceiling to be reached on May 16 as forecast, now feels can use more 'special measures' to push back limit to Aug 2 vs July 8 prior
[09:42] {Threei}  idiots are playing with fire
[09:44] {nemo} they just want to keep expanding debt level forever
[09:45] {Threei} Long Setup:  FCX  50 break
[09:46] {dino} il
[09:46] {nemo} that was fast
[09:46] {Threei}  1:1...
[09:46] {jfjf64} very
[09:46] {Threei}  wanted aggressive entry near .90 and hesitated a bit
[09:47] {Threei}  OK
[09:47] {nemo} yeah, I didn't get in
[09:47] {Threei}  second chance
[09:47] {ese} am watching it dino
[09:47] {nemo} hit 1:1
[09:47] {Threei}  stop under .90
[09:47] {jfjf64} in
[09:47] {dino} out panl .81, +.81
[09:47] {Threei}  target is .25
[09:47] {Threei}  two partials
[09:49] {Threei}  change of plans
[09:49] {Threei}  target .35
[09:49] {dino} tough crowd
[09:49] {Threei}  three partials
[09:49] {Threei}  sorry dino, caught up in a fast tarde :0
[09:49] {Threei}  first partial out
[09:49] {Threei}  .13
[09:49] {dino} :D
[09:49] {Threei}  stop to .95
[09:50] {Threei}  offer second part above .20
[09:51] {ese} what made you go back to that one dino
[09:51] {ese} nice one by the way
[09:51] {Threei}  second part out
[09:51] {Threei}  stop to .99
[09:51] {Threei}  offer third part between .30 and .35
06[09:52] * Threei slaps jfjf64 around a bit with a large roll of cash
[09:53] {jfjf64} ty
[09:53] {ese} nice jf
[09:53] {Threei}  stop to .09
[09:54] {jfjf64} 3i  call
[09:55] {jfjf64} scanner  finds  fcx
[09:55] {jfjf64} 3i  cofirms
[09:55] {jfjf64} lol
[09:55] {ese} gotta pull that trigger
[09:55] {Threei}  SLW
[09:55] {Threei}  this p;ullback seems to be our play finally
[09:56] {ese} tougher than most people think
[09:56] {jfjf64} yes
[09:56] {dino} panl drop
[09:56] {Threei} Long Setup:  SLW  .70 break
[09:56] {Threei}  if stays above .60
[09:57] {dino} ty ese, always keep yesterdays movers for a dayt or two on screen
[09:57] {dino} wlk drop
[09:57] {dino} gap 58.83 area
[09:58] {ese} wondered about that...so do i
[09:58] {Threei}  no go
[09:59] {jfjf64} lvs  some momo
[09:59] {dino} would like to see retest of lod panl
[10:00] {dino} bid lod
[10:05] {jfjf64} lvs  pullbk
[10:06] {Threei}  feels like market prepares for cascading lower
[10:07] {Threei} Short Setup: X  .10 break
[10:07] {dino} same feeling
[10:07] {Threei}  if stays under .20 for scalpers, .25 day traders
[10:08] {Threei}  when .10 getting hit try to grab last shares
[10:08] {Threei}  can drop very fast aftre actual break
[10:08] {Threei} Short Setup: SLW  .50 break
[10:10] {dino} darn partials bid l .75
[10:11] {Threei}  X not a scalp to me
[10:11] {Threei}  partialing
[10:11] {Threei}  1;1
[10:11] {Threei}  OK... let's tank now, market
[10:12] {Threei}  stop to .15, X
[10:12] {Threei}  ugh, missed partial on SLW
[10:12] {dino} wlk sm l .00
[10:13] {Threei}  stop to .55 SLW
[10:15] {Threei}  out SLW
[10:16] {Threei}  botched execution on this trade
[10:16] {jfjf64} ditto
[10:16] {jfjf64} jf blame   x
[10:17] {Threei}  X, scalpers win
[10:17] {jfjf64} dittnt pull trigger
[10:17] {jfjf64} either
[10:17] {dino} panl lod app
[10:18] {dino} wlk gap fill, should've waited
[10:18] {dino} gut says up we go
[10:19] {Threei}  yeah, market held after breakdown
[10:19] {Threei}  no strong downward momentum anymore
[10:19] {Threei}  although things are muddied by the dollar
[10:20] {Threei}  all these ups and downs are strongly correlated with it
[10:21] {dino} wlk stop -.33
[10:22] {dino} bid to .19
[10:23] {dino} stop .18 slip, +.43
[10:24] {jfjf64} gj
[10:26] {Threei}  SLW... I don't like you today
[10:28] {dino} ty
[10:28] {dino} 07 all red
[10:28] {dino} il lod
[10:28] {dino} carefull, still red
[10:28] {dino} unusual
[10:28] {dino} panl coming into yesterdays lod
[10:28] {dino} smr l il .00
[10:29] {ese} L il .08
[10:29] {dino} out il .40, +.40
[10:31] {Threei}  *DOE CRUDE: +3.8M V +1ME; GASOLINE: +1.3M V -500KE; DISTILLATE: -840K V +500KE; UTILIZATION: 81.7% V 83.2%E
[10:32] {dino} riding it es?
[10:33] {Threei} Short Setup: X  46 break
[10:33] {dino} ese getting like ron, making more on my calls than i do
[10:33] {Threei}  hehe
[10:33] {ese} good enough out IL .62
[10:33] {Threei}  good job guys
[10:33] {dino} wtg
[10:33] {ese} tks
[10:33] {dino} pulp type
[10:33] {ese} was thinking 1/2 and 1/2 but good enough
[10:34] {dino} dropped hard
[10:34] {ese} +.54
[10:34] {Threei}  condition is obvious on X
[10:34] {ese} ya
[10:34] {jfjf64} nice
[10:34] {jfjf64} ese
[10:34] {ese} tks
[10:34] {Threei}  UUP break of high should kill X
[10:35] {ese} had been following it since opening and almost missed it.....just barely caught dinos call
[10:36] {dino} i do what i do
[10:36] {dino} waiting here a bit, feels ugly
[10:37] {nemo} X holding well on this downdraft
[10:37] {dino} watching il, bid, panl
[10:40] {jfjf64} de  gettin  hit
[10:41] {dino} panl sm l .25 stop .99
[10:42] {dino} wtf, stopped fast drop
[10:43] {jfjf64} look  c
[10:43] {jfjf64} 43.00
[10:43] {jfjf64} lol
[10:44] {Threei}  reverse split
[10:44] {jfjf64} yeah reading
[10:44] {Threei}  1: I can't count that far
[10:45] {jfjf64} lvs   d/top
[10:45] {jfjf64} ?
[10:46] {Threei}  can't tell
[10:46] {jfjf64} or forming  c/h  
[10:46] {jfjf64} higher
[10:48] {_samire} slw basing
[10:50] {davd} raj guilty
[10:51] {ese} L alj .05
[10:51] {Threei}  Yahoo! Inc Ticks lower on reports that Alibaba has changed structure of ownership in its Alipay online payment service
[10:51] {Threei}  - Forbes reports "Yahoo disclosed in an SEC filing yesterday that Alibaba Group, in which it holds a 43% stake, has transferred ownership of online payments company Alipay to a new company controlled by Alibaba CEO Jack Ma."
[10:52] {Threei}  SLW is getting royal whooping
[10:52] {ese} stop .80
[10:53] {RonS} ese...hearing alj has refinery in flood area...
[10:55] {dino} partial l wlk .25
[10:56] {ese} tks ron.........
[10:56] {ese} price action tells me it's goin up for a few minutes
[10:57] {ese} may 5 earnings were good
[10:58] {dino} bid sm l .97
[10:58] {ese} out alj .26 +.21
[10:58] {dino} gj
[11:00] {ese} tks
[11:02] {RonS} lol...people saying raj had prior knowledge of the verdict
[11:03] {dino} whats verdict
[11:04] {RonS} 08:50 davd raj guilty
[11:04] {davd} please take me off ignore :O
[11:05] {ese} lol
[11:05] {nemo} send a check davd and I'll think about it
[11:08] {gregns} SLW break of 35 if stays above .85 ?
[11:09] {Threei}  I think so
[11:09] {gregns} ty
[11:17] {dino} tdsc break .40 l
[11:23] {Threei}  things stalled
[11:26] {dino}  dj reporting gasoline usage at 9 year low
[11:32] {nemo} I drove one of the main commuter corridors in the boston area yesterday at afternoon rush hour...clear sailing
[11:32] {dino} stec lod
[11:33] {dino} sweet
[11:34] {ese} and stec had a reasonable Q
[11:34] {Threei}  greg... I'd partiasl out here
[11:34] {dino} lowered q2
[11:34] {Threei}  if not just take profit
[11:35] {gregns} ty, already did
[11:35] {ese} ya......not by much but it only takes a little these days to get brutalized
[11:35] {dino} yeah. bloody earnings
[11:50] {_samire} Threei.....do you have a lifetime membership ?
[11:50] {Threei}  hmmm
[11:50] {nemo} to the room Vad
[11:51] {Threei}  mine is...
[11:51] {nemo} pretty good samire
[11:51] {Threei}  lol
[11:51] {_samire} yes
[11:51] {Threei}  there are two options
[11:51] {Threei}  http://www.realitytrader.com/tradingroom/order.html
[11:52] {Threei}  lifetime would be about half million I think, but you'd have to gamble on my personal life expectation
[11:52] {nemo} there's a conditional trigger also samire called the "nemo" membership
[11:52] {davd} he drinks alot of vodka and eats a lot of donuts
[11:52] {ese} IL...nice move
[11:52] {Threei}  'cause if bus hits me tomorrow, good luck getting your money back from local transport agency
[11:52] {nemo} once you reach that pain in the ass level you have to pay more
[11:53] {Threei}  they never refunded anyone for unused bus ticket
[11:53] {_samire} i have a life time member ship to  ...
[11:53] {nemo} Vad always drank
[11:53] {nemo} but since I've been here
[11:53] {nemo} his liver can't get through a metal detector
[11:53] {_samire} but it is not great
[11:53] {_samire} i will trade it with you
[11:53] {Threei}  well... doesn't it tell you everything you need to know about such memberships? :)
[11:54] {_samire} yes
[11:54] {_samire} i will give this and take yours
[11:55] {Threei}  how much do they charge for lifetime?
[11:55] {_samire} i will e-mail u password
[11:55] {_samire} $ 999
[11:55] {Threei}  why do I need their membership, lol
[11:55] {_samire} so u can give me yours
[11:55] {Threei}  ummm...
[11:55] {Threei}  how do I put it softly
[11:55] {_samire} look at home page....very fancy
[11:56] {Threei}  I don't trade what I have for what I don't need
[11:56] {Threei}  soft enough? :)
[11:56] {_samire} dollar bills every where
[11:56] {nemo} GFY
[11:56] {Threei}  yup... fancy :)
[11:56] {_samire} buy the picture
[11:57] {_samire} it is hard to sell u some thing
[11:57] {Threei}  why... it's very easy
[11:57] {Threei}  offer me something I need
[11:57] {Threei}  bam, sold
[11:57] {RonS} sucked me in to looking at gfy nemo...
[11:57] {Threei}  rofl
[12:00] {_samire} do you normally take most of your trades in the first 2 hours  ?
[12:00] {Threei}  well, market activity is concentrated in this time frame lately
[12:01] {Threei}  but when things change, so do we
[12:01] {_samire} good answer
[12:04] {RonS} oil looking to crack below 100
[12:05] {RonS} now 99.75
[12:11] {RonS} cme halted oil trading
[12:11] {Threei}  gorever I hope
[12:11] {Threei}  forever
[12:11] {Threei}  oh... 5 mi only
[12:11] {RonS} 5 min halt now over
[12:11] {dino} someone blowing up
[12:12] {RonS} oil dropping 99.56
[12:12] {davd} someone not blowing up
[12:14] {dino} one lost 400 m on oil last week
[12:16] {Threei}  too bad just one
[12:18] {Threei}  panic
[12:18] {RonS} huge es fute buyers showing up
[12:18] {Threei}  I don't see singnificant news for this... other than Portugal bailout is getting more or less appreoved in Germany and Finland
[12:19] {davd} dollar at 10 day high
[12:19] {davd} es?
[12:19] {RonS} moniker for spx futes
[12:22] {davd} buyers meaning going long
[12:22] {davd} ?
[12:23] {davd} i want to know what you mean please?:/
[12:23] {dino}  buyers showing big bids
[12:23] {davd} ty
[12:23] {RonS} service i use tracks algo activity...when huge buyers or sellers show it it almost always indicates the end of the move
[12:24] {RonS} ...but sometimes they get overwhelm...it is a 90% er
[12:24] {RonS} sorry...show up...
[12:24] {davd} aha thanks rons
[12:25] {davd} 1pm is 10yr treasury auction
[12:25] {RonS} in this case 1.2 mil contracts...
[12:29] {RonS} 720k buyer in the nq as well
[12:33] {RonS} dcc dave
[12:38] {dino}  irf sm l .65
[12:40] {davd} thanks ron.  looks like big move was signalled for now
[12:44] {jfjf64} cvx   .40  break
[12:44] {jfjf64} ??
[12:44] {RonS} always remember...i report what i deem significant...i am not predicting per se. we should all know nothing is for certain in the market.  especially when the guvmint chooses to jerk it around.
[12:44] {Threei}  .50 I'd orefer jf
[12:44] {RonS} dcc dave
[12:45] {Threei}  semiagressive
[12:45] {davd} that cool...  i use "imo"
[12:47] {RonS} that message was for the new people dave...don't want to lead anyone down the wrong path...:)
[12:47] {Threei}  why??
[12:47] {Threei}  come on Ron
[12:47] {Threei}  not only 9 out of 10 who take the stand want that,
[12:48] {Threei}  people who listen to them want to be led that path themselves
[12:48] {davd} i'm usually outdone by the dartboard approach :(
[12:48] {Threei}  that's because you resist it, davd...
[12:48] {jfjf64} cvx
[12:48] {Threei}  1:1, jf
[12:49] {jfjf64} ty
[12:49] {Threei}  beauty of aggressive entry
[12:49] {jfjf64} ty jf
[12:49] {jfjf64} lol
[12:49] {Threei}  lol
[12:49] {jfjf64} look daily
[12:49] {RonS} oil went to 100.25 and fell 98.75 in 5 min
[12:50] {jfjf64} ohh baby
[12:50] {Threei}  (EU) EU's Rehn: Reiterates Greece continues to live beyond its means; concerned about recent national debate trajectories
[12:50] {RonS} debate trajectory?...new one for me...
[12:52] {Threei}  euphemism for "uh oh, whole things falls apart"
[12:55] {davd} possible one of those rally when europe closes days?
[12:56] {Threei}  well, Europe closes but comments continue
[12:56] {Threei}  and these days it's mostly about what is said over there
[12:56] {Threei}  every yapping mouse from across the pond sends market up and down
[12:57] {Threei}  you done with CVX jf?
[12:57] {Threei}  nicely hit .25 for you
[12:57] {RonS} europe closed at 11:30 edt i think...
[12:57] {ese} gotta go all...cya friday......will not make it tomorrow....have a real late show tonight
[12:57] {RonS} cya ese
[12:57] {Threei}  havce fun ese
[12:57] {ese} ron vad
[12:58] {dino}  cya ese
[12:58] {Threei}  lol
[12:58] {Threei}  dino, you might just as well send a snail mail letter
[13:02] {Threei}  3 feds are speaking art the same time
[13:02] {Threei}  and auction
[13:02] {dino} guess so
[13:03] {RonS} O not joining party?
[13:04] {Threei}  not that I am aware of
[13:07] {RonS} nemo...any opinons of ery v. sco?
[13:11] {davd} i use dto - most liquid and options
[13:15] {Threei}  up or down from here?
[13:16] {Threei}  who has a feel?
[13:16] {gregns} up
[13:16] {Threei}  down for me... but I am firmly in "short everything" camp lately :0
[13:17] {davd} close up near vwap of 134.8 - imo
[13:17] {Threei}  if market starts downticking, I'd watch SCO for long
[13:35] {RonS} holy smokes...36 outside w/ rain/hail falling...
[13:36] {dino}  gaps 2375, 1335
[13:36] {Threei}  UUP new high
[13:36] {Threei}  SPY new low
[13:36] {Threei}  greg... I win
[13:36] {gregns} sure enough and sco did go
[13:38] {gregns} SLW did not hit new low,, bounce ready soon, a scalp ?
[13:39] {Threei}  probably... my heart is so not into long SLW though...
[13:46] {dino} panl sm l .67
[14:11] {dino} stopped
[14:24] {Threei}  was my heart about SLW or what
[14:24] {gregns} yup
[14:25] {RonS} oil to 97.60
[14:26] {Threei}  UUP continues higher of course, pushing them all down
[14:27] {Threei}  http://www.realitytrader.com/tradingroom/, bottom of the page now contains description of the room format
[14:28] {dino} tdsc amazes me, beats, raises, declares 2/1 split and drops 20
[14:28] {Threei}  no more excuse for trialers to ask what calls mean
[14:29] {nemo} think you should warn them about me?
[14:29] {Threei}  no, I want some suprizzes to exist
[14:29] {nemo} ahhh
[14:37] {gregns} that's a big surprise though, maybe rethink that one ??
[14:38] {Threei}  true greg, and don't think I took this lightly... but, aren't we entitled to have our fun? And agree, observing unprepared one meeting nemo for the first time IS fun
[14:39] {Threei}  just remember how many fainted
[14:40] {gregns} i am concerned now about your idea of fun?
[14:40] {davd} vwap 134.7 nemo?
[14:41] {nemo} just about
[14:42] {Threei}  well... and this is when I am sober
[14:42] {nemo} davd, that was in answer to you
[14:42] {nemo} ahhhh...Vad
[14:42] {davd} uso thus far bounced off its 200 dma
[14:42] {nemo} when is that?
[14:43] {Threei}  there... don't have to wait too long for the comeback, eh? :)
[14:43] {davd} oh, i thought you had a different vwap for when you are drunk
[14:43] {Threei}  rofl
[14:43] {Threei}  good one davd
[14:50] {dino} vtus drop
[14:55] {Threei} Long Setup:  SLW  34 break
[14:55] {Threei}  and don't think it's easy for me to type that
[14:56] {nemo} you meant short, right?
[14:57] {Threei}  nope...
[14:57] {_samire} no
[14:57] {Threei}  UUP is pulling back some
[14:57] {nemo} samire...wtf
[14:57] {Threei}  took .91 aggressive
[14:57] {nemo} nice vad
[14:57] {Threei}  stop .84
[14:57] {nemo} btu
[14:57] {Threei}  not much risk
[14:57] {nemo} sorry
[14:58] {Threei}  gotta give it a chance
[15:00] {_samire} nemo......you know wf  ???
[15:00] {_samire} water fall
[15:00] {nemo} cute
[15:00] {_samire} have you listened to GSP before ?
[15:01] {nemo} what is GSP?
[15:01] {_samire} great stock pix
[15:01] {_samire} he plays water fall
[15:02] {nemo} oh, on the website?  that's cool
[15:05] {_samire} did Vad took SLW ?
[15:06] {Threei}  14:57] {Threei} took .91 aggressive
[15:06] {Threei}  [14:57] {Threei} stop .84
[15:06] {_samire} ok...thanx
[15:08] {nemo} LVS
[15:08] {Threei}  half out
[15:09] {Threei}  beauty of aggressive entries
[15:09] {dino} gj
[15:10] {Threei}  ty
[15:10] {Threei}  stop to .89
[15:25] {davd} vwap 134.67
[15:25] {Threei}  sober version?
[15:25] {davd} buzzed version, i needed a shot after watching silver
[15:26] {Threei}  right
[15:26] {_samire} Vad....you are very bad (Good)
[15:27] {Threei}  I don't mind
[15:28] {_samire} You take the right trades
[15:29] {Threei}  that's what I do...
[15:30] {dino} cnc spike
[15:31] {dino} 4 bucks
[15:31] {Threei}  camceled conference appearance
[15:31] {Threei}  ok SLW, it's tme
[15:31] {davd} gold almost filling the gap
[15:52] {dino} rally into close?
[15:52] {Threei}  rally... hardly... :0
[15:52] {Threei}  meek bounce
[15:52] {nemo} not much more
[15:54] {dino} tell me how you really feel, lol
[15:56] {Threei}  OK guys
[15:56] {Threei}  thank you all
[15:56] {Threei}  have a good evening, see you tomorrow
[15:57] {larisa} bye :)
[15:57] {dino} cya 3i

Tuesday, May 10, 2011

May 10 2011

Boring low volume day. Greenish, as most of them lately

Session Time: Tue May 10 00:00:00 2011
[08:30] {Threei}  *(US) APR IMPORT PRICE INDEX M/M: 2.2% V 1.8%E; Y/Y: 11.1% V 10.4%E
[08:30] {Threei}  thank you ben
[08:58] {dino} gm all
[08:58] {Threei}  dino :)
[09:07] {ese} mornin all.....can spend a little bit of time on the board today.......thank goodness....you all are like a drug...was on withdrawl
[09:08] {RonS} gm all...so where is the investigation?...crack spreads are north of $35 above 5 yr high
[09:08] {Threei}  ese, ron :)
[09:10] {Threei}  major news of the day:
[09:10] {ese} ?
[09:10] {Threei}  1. MSFT buys Skype
[09:10] {Threei}  2. Arnold and wife separate
[09:10] {ese} ya...just reading that
[09:10] {ese} ouuuuuu
[09:12] {_samire} gm
[09:12] {larisa} gm :)
[09:12] {ese} can't find the ticker symbol for skype...anyone know
[09:13] {Threei}  samire, larisa :)
[09:13] {Threei}  not public
[09:13] {ese} hmmm didn't know that
[09:14] {dino} ebay
[09:14] {Threei}  yeah, belonged to Ebay
[09:14] {Threei}  who needs some relaxation before trading day: http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:15] {Threei}  RIMM is red again
[09:16] {ese} vad....theres a house right here on Beach Drive kitty corner to Willows Beach park with a zillion tullips planted around the house......about a block from my place
[09:17] {Threei}  yeah, I thought of buying that
[09:17] {Threei}  until I heard the price
[09:18] {ese} is that house up for sale...the one with the tulips
[09:18] {Threei}  nah... just kidding
[09:20] {Threei}  watching RIMM for short
[09:21] {dino} brfs gap filling
[09:23] {RonS} ...sorry...can't help it...methinks barf always fills the gap...
[09:25] {dino} lol
[09:26] {_samire} i held some slw overnight...should i sell at open  ????any opinion ?
[09:26] {dino} y
[09:26] {dino} as livermoore would say; "when you get lucky, take it"
[09:26] {_samire} ok
[09:27] {Threei}  you held for a gap?
[09:27] {Threei}  you've got it
[09:27] {dino} just my opinion samire, vad is the teacher here
[09:27] {_samire} where should be my stop ?
[09:27] {Threei}  no one knows what happens next, and SLW is famous for selling off at the open 9 times out of 10
[09:27] {nemo} SLW, short on open
[09:28] {RonS} ...i always thought that was a guy at a bar dino...
[09:29] {dino} lol, took me a minute
[09:30] {Threei} Short Setup: RIMM  .90 break half lot
[09:30] {Threei}  if stays under 45
[09:30] {Threei}  ummm
[09:30] {nemo} oh well
[09:31] {Threei}  good luck getting a fill
[09:31] {Threei}  lol
[09:31] {Threei}  let's see if second chance comes along
[09:31] {jfjf64} mornin
[09:31] {Threei}  jf :)
[09:31] {Threei} Short Setup: SLW  .30 break
[09:32] {Threei}  stop .45
[09:32] {Threei}  bid half under .20
[09:32] {Threei}  1:1
[09:33] {Threei}  scalpers take profit
[09:33] {Threei}  stop to .35 for the balance
[09:33] {nemo} bmti dino
[09:34] {dino} cancer concerns bone graft stuff
[09:34] {Threei}  stop to .31 SLW
[09:35] {dino} itmn
[09:35] {Threei}  1:2
[09:35] {Threei}  1/4 out more
[09:35] {dino} big seller 16%
[09:35] {Threei}  stop to .21
[09:36] {Threei}  that's SLW in the morning for you, samire
[09:36] {_samire} Thanks DINO ...sold slw at open
[09:36] {Threei}  happens almost every single time
[09:36] {Threei}  1:3
[09:36] {Threei}  out in full
[09:36] {_samire} Thanks Threeifor the short
[09:36] {Threei}  +.44
[09:36] {Threei}  welcome
[09:36] {dino} :)
[09:36] {_samire} Good job
[09:36] {jfjf64} nice  ty
[09:37] {Threei}  jf, here is what you'll have to do to repay for this:
[09:37] {dino} bid
[09:37] {Threei}  go and look at photos at http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:37] {Threei}  frikin RIMM never gave us another chance
[09:37] {jfjf64} no prob
[09:38] {Threei}  I was hoping for "no, anything but that"... what is the fun if you don't suffer
[09:38] {_samire} i saw the beatiful flowers
[09:38] {Threei}  ty
[09:38] {_samire} from link
[09:39] {Threei}  RIMM, I am crying
[09:39] {Threei}  but still... no mmarket orders
[09:39] {Threei}  remember what happened yesterday with SLW long
[09:40] {Threei}  OK, let's try RIMM bounce
[09:40] {Threei}  half lot, .50 trigger
[09:40] {jfjf64} hello
[09:41] {jfjf64} kicked off
[09:41] {Threei}  feel free to exit RIMM here, just a scalp
[09:42] {Threei}  too weak to stick around for long
[09:43] {jfjf64} got kicked off
[09:43] {RonS} got .53 to .66 thanks 3i
[09:43] {Threei}  :)
[09:44] {dino} bid lod
[09:44] {jfjf64} aapl
[09:45] {jfjf64} gettin hit
[09:46] {Threei}  (US) Preview: IBD/TIPP Economic Optimism index due out at 10:00ET**Consensus expectation: 41.8e v 40.8 prior
[09:47] {dino} bid sm l .40
[09:47] {Threei}  (GR) France Fin Min Lagarde: Pledges to continue EU rescue of Greece
[09:49] {Threei} Short Setup: USO  .40 break
[09:50] {Threei}  stop .45 for scalpers, .51 day traders
[09:51] {Threei}  scalpers take profit, day traders half out
[09:51] {RonS} got sco for .15 on that call...thanks 3i
[09:51] {Threei}  :)
[09:51] {Threei}  stop to .41
[09:52] {RonS} and thanks nemo for pointing it out since i cannot short uso
[09:52] {nemo} NP
[09:52] {dino} usna
[09:52] {ese} L mnta .52
[09:52] {_samire} what is the opposite of USO ...if i need to go long..example slw and zsl are opposites
[09:52] {Threei}  good idea, just remember that SCO is less liquid and requires less shares
[09:53] {RonS} ya, did half lot
[09:53] {ese} out mnta .65 +.13
[09:53] {Threei}  (GR) German Gov;t: Expects Greece to fulfill its terms of the rescue package; Not discussing a restructuring of its debt
[09:54] {Threei}  SCO, samire
[09:54] {Threei}  UltraShort DJ-UBS Crude Oil
[09:54] {_samire} thanks
[09:54] {dino} bid stop -.21
[09:56] {jfjf64} rimm.34
[09:56] {jfjf64} short
[09:56] {Threei}  looks right to me jf
[09:57] {dino} rinses
[09:57] {Threei}  numbers in 4 min
[09:57] {jfjf64} cant get out of own way
[09:57] {jfjf64} lots  green  not moving
[09:58] {jfjf64} dbi
[09:58] {dino} panl
[09:58] {Threei} Short Setup: RIMM  .35 break
[09:58] {Threei}  if stays under .45
[09:58] {Threei}  let's make it official :)
[09:59] {jfjf64} after  this  ill lk  pictures
[09:59] {Threei}  lol
[09:59] {Threei}  hope numbers don't spoil the play
[10:00] {nemo} too fast
[10:00] {nemo} rimm is dead man walking
[10:00] {Threei}  *(US) MAY IBD/TIPP ECONOMIC OPTIMISM: 42.8V 41.8E
[10:00] {jfjf64} or help
[10:02] {jfjf64} die  ya  dog
[10:02] {Threei}  stop to .41, IMO
[10:03] {jfjf64} yes make it official
[10:03] {Threei}  after all it touched 1:1 before bouncing
[10:03] {Threei}  thing is beautifully weak
[10:03] {Threei}  1:1 again
[10:03] {Threei}  half out
[10:03] {Threei}  (GR) Greece Apr YTD Cash Balance: -6.8B
[10:05] {ese} s sina sm .16
[10:05] {ese} cover sina.,94
[10:05] {ese} dam that went quick+.22
[10:06] {jfjf64} out
[10:07] {jfjf64} left .40
[10:08] {dino} panl sm l .65, stop .29
[10:09] {Threei} Short Setup: X  .10 break
[10:09] {Threei}  if stays under .20
[10:10] {Threei}  not a scalp
[10:13] {Threei}  still valid
[10:13] {ese} L med .33
[10:14] {Threei}  invalidated
[10:15] {ese} out med .48
[10:15] {Threei}  nice
[10:15] {ese} +.15
[10:15] {ese} tks
[10:15] {ese} said this before when you don't trade for a few days....feels strange
[10:16] {ese} almost like you don't trust yourself
[10:16] {Threei}  yes... alcoholics too say first two hours feel very weird
[10:16] {RonS} took x l at .14 w/ .10 stop on your call 3i, out .26  thanks
[10:16] {ese} lol
[10:16] {Threei}  gj ron
[10:16] {Threei}  creative
[10:17] {Threei}  old russian joke ese... "doc demanded that I quit drinking... so I did... not drinking one hour, two..."
[10:20] {Threei}  SLW
[10:21] {Threei} Short Setup: SLW  .60 break
[10:21] {Threei}  .66 stop
[10:22] {Threei}  no go
[10:23] {ese} just saw that vad.......very funny
[10:29] {_samire} soory but took ZSL long
[10:29] {_samire} sorry
[10:29] {_samire} break of 5s
[10:29] {dino} out panl .45, +.80
[10:30] {_samire} but was your idea Threei
[10:30] {ese} eeeeyeowwwwwzaaaa....nice one dino
[10:30] {_samire} opposite of
[10:30] {dino} ty
[10:30] {_samire} slw
[10:30] {_samire} i can not short
[10:31] {jfjf64} what broker
[10:33] {Threei}  SLW rinse
[10:38] {ese} holi dino.....beat yesterday raised quidance....
[10:38] {dino} panl sm l .51
[10:39] {dino} ty, i'll check
[10:39] {nemo} RIMM
[10:39] {ese} been meaning to ask you.....do you adjust your 10% rule based on the price of the stock?
[10:39] {ese} 10% is different for different levels
[10:40] {dino} not sure what 10% you mean
[10:40] {dino} top 10 gainers/losers in %, price no matter
[10:41] {ese} maybe i've got it wrong but you wait for say a 10% drop before you consider buying....something like that don't you
[10:41] {ese} as long as the news is good
[10:41] {ese} ahhhhhh ok
[10:42] {dino} i like 10% but even 5% i look at. it was top 10 percentage gainers and loser scan
[10:42] {nemo} rimm
[10:42] {ese} hmmmmm ok
[10:43] {dino} paml stop -.35
[10:43] {dino} panl
[10:45] {dino} f'ng panl rinse
[10:45] {dino} holi sm l .39
[10:46] {_samire} when did this room started ?
[10:46] {dino} ten years?
[10:46] {dino} been here 4 or so myself
[10:47] {Threei}  2000
[10:47] {_samire} it is my second day and i love it.......but how come few people in the room  ?????
[10:47] {Threei}  that's easy one
[10:47] {dino} get alot who try to change us and they quit
[10:48] {Threei}  people come in numbers to the rooms that promise insane riches with no work
[10:48] {Threei}  we promise reasonable profits achieved as a result of hard work
[10:48] {dino} good point 3i, we are more base hits than home runs
[10:48] {Threei}  we deliver on promise, they don't - but it's a lure of promise that attracts masses
[10:48] {_samire} make sense......i love your tight stops
[10:49] {Threei}  think of it this way: is majority right in trading?
[10:49] {jfjf64} so true
[10:49] {Threei}  if not, then the majority coming to other rooms tells you all you need to know
[10:50] {dino} -samire, consider this room an income room, not get rich quick
[10:50] {Threei}  exactly
[10:50] {_samire} yes
[10:50] {dino} we grind out a living daily
[10:51] {Threei}  and people come to trading with dream of becming millionares in a matter of months
[10:51] {jfjf64} and we pick and choose  who  we want  in  room
[10:51] {jfjf64} right nemo
[10:51] {Threei}  so we are not of interest to them
[10:51] {dino} still trying to figure out who allows jf in, lol
[10:51] {Threei}  "what? I'll have to study something?"
[10:52] {RonS} jeez...holi was trading .38...put order in .02 higher and only got a partial fill...just noticed
[10:52] {Threei}  had a guy recently who observed room for a week, then said:
[10:52] {nemo} right JF...my insulting nature chase off many
[10:53] {Threei}  what's the deal with courseas, books, studying... there is aroom, you make calls I follow them, I make money. I don't have to study anything, you just make calls
[10:53] {nemo} yeah, right
[10:53] {Threei}  I didn't even bother explaining why that won't work
[10:54] {Threei}  lazy and stupid is no way to go through life, right? {G}
[10:54] {dino} here you go ron
[10:54] {nemo} fat, lazy and stupid...but I've made it somehow so far
[10:54] {Threei}  me too
[10:54] {Threei}  but hey, exceptions only confirm the rule
[10:54] {RonS} ya, some bastid showed up w/ 8k at .42
[10:55] {dino} ese most likely
[10:55] {Threei}  after all, Pluto made it to planet status, even though temporary, being small, not too bright and gassy
[10:55] {ese} ha ha.....ha ha....
[10:56] {dino} panl smr l .11
[10:56] {RonS} panl = epitome of pulp
[10:56] {dino} smr=3
[10:56] {dino} "pulp moves baby"
[10:57] {RonS} termite quote?
[10:57] {dino} itmn lod
[10:58] {dino} costanzza, sienfeld
[10:59] {ese} that was funny.......
[10:59] {dino} 37.15 itmn gap mar
[11:00] {nemo} BSX dino
[11:01] {dino} ceo retires
[11:02] {dino} sm l .98 bsx
[11:03] {dino} itmn gap fill
[11:03] {dino} gut says 35 magnet
[11:03] {Threei} Long Setup:  X  .50 break
[11:03] {Threei}  if stays above .40
[11:11] {Threei} Short Setup: FCX  .60 break
[11:11] {Threei}  if stays under .70
[11:17] {_samire} we are in FCX.....please confirm
[11:18] {davd} i am
[11:18] {_samire} ok
[11:18] {Threei}  it triggered
[11:18] {Threei}  why wouldn't we
[11:18] {nemo} I'm not
[11:18] {Threei}  you be cryin'
[11:18] {davd} davd slaps nemo with team player handbook
[11:18] {nemo} probably
[11:18] {Threei}  we be profitin'
[11:19] {Threei}  scalp or partiaal, your choice
[11:19] {Threei}  I have no preference
[11:19] {Threei}  1;1
[11:19] {nemo} davd...I have a habit of catching Vad's stops, so when I don't enter, it's usually confirmation
[11:20] {Threei}  I fail to see the logic here
[11:20] {Threei}  but it's OK, I fail to see many things
[11:20] {davd} :s i'm staying mute on all of this
[11:20] {jfjf64} nemo logic
[11:20] {nemo} don't worry dave, you're on the list
[11:21] {Threei}  samire... if you went in for a scalp, you have 1:12
[11:21] {Threei}  if for bigger trade, half out and stop to .61
[11:21] {Threei}  this is our routine
[11:22] {Threei}  1:12 - 1;2, of course
[11:22] {Threei}  grr
[11:22] {Threei}  1:1
[11:22] {Threei}  lol
[11:22] {Threei}  my typing becomes worse as day progresses
[11:22] {Threei}  which may be caused by ese's insistence that I trade sober
[11:23] {Threei}  I honestly don't know why he demands that, as my performance obviously suffers
[11:24] {davd} i'm rich!!
[11:24] {RonS} win the lottery?
[11:24] {davd} fcx
[11:25] {Threei}  nemo, crying yet?
[11:27] {nemo} real traders don't cry
[11:27] {Threei}  no???
[11:27] {Threei}  crap...
[11:27] {nemo} they sob incessantly at the cruelty and unfairness
[11:27] {Threei}  [09:39] {Threei} RIMM, I am crying
[11:28] {Threei}  correcting to: [09:39] {Threei} RIMM, I am sobbing incessantly at the cruelty and unfairness
[11:28] {Threei}  FCX 1:2, 1/4 more out, stop to .51
[11:28] {Threei}  getting the routine down, samire?
[11:28] {Threei}  ebelog?
[11:29] {Threei}  pragmatic?
[11:29] {Threei}  nemo?
[11:29] {Threei}  oops
[11:30] {_ebelog} Sorry was afk did you have a question
[11:33] {Threei}  just describing the routine we follow when in trade and trying to make sure trialers get it down
[11:35] {Threei}  nemo... sobbing incessantly at the cruelty and unfairness yet?
[11:35] {nemo} no, watching IWM for entry
[11:35] {Threei}  ugh
[11:36] {Threei}  I was so hoping you would suffer
[11:36] {nemo} I'm in this room ergo I suffer
[11:36] {Threei}  oh good
[11:36] {Threei}  makes my day brighter
[11:36] {nemo} That's why you're on the list in pen
[11:37] {Threei}  wait... it's not that spam list that regularly sends me updates on the latest products enlargening vital organs?
[11:38] {nemo} no, personal and proprietary
[11:44] {dino}  bid sm l .50
[11:47] {RonS} usna dino on pullback?
[11:50] {dino} dk, would rather see db
[11:51] {RonS} they are having a conf call at 4 edt so maybe high volume panic selling before for good entry...
[11:51] {RonS} ceo, cfo out...
[11:52] {dino} y
[11:53] {RonS} l bid .49  tgt .92...yours dino?
[11:55] {dino} .91
[11:55] {dino} stop .23
[11:55] {RonS} cuttin me by a penny eh?
[11:55] {RonS} :)
[11:55] {dino} simply because you stated it
[11:55] {RonS} lol
[11:59] {dino} thing won't move
[11:59] {Threei}  that's what she said
[12:00] {dino} hmmm
[12:14] {nemo} MCP
[12:26] {Threei} Long Setup:  X  .50 break
[12:26] {Threei}  if stays above .40
[12:29] {Threei}  20% Classify Themselves As the Working Poor
[12:30] {Threei}  60% more as unemployed poor?
[12:31] {nemo} lunchtime breaks..oy
[12:33] {dino} .
[12:35] {dino} bid stopped
[12:36] {Threei}  NY-Boston Amtrak stopped, suspicious package
[12:36] {dino} ebix drop
[12:37] {davd} thanks 3i - how is metro north running?
[12:37] {Threei}  anyone lives close to davd? please slap him on my behalf
[12:38] {RonS} what? he checking train traffic from across continent?
[12:38] {Threei}  I'll owe you one slap
[12:38] {nemo} x looking short now
[12:41] {davd} not to me nemo - when i short a stock it always goes up :(
[12:41] {Threei}  (US) US officials: China talks agree on process to ensure China govt uses legal software; have agreed on framework for export financing
[12:41] {Threei}  - Financial system reform discussions went well
[12:41] {Threei}  - China will allow foreign firms to sell auto insurance and mutual funds in China.
[12:41] {Threei}  - Currency reforms are now part of China's inflation fighting policy, US officials receive notice that China intends to move further on its FX regime
[12:42] {Threei}  China govt uses legal software
[12:42] {Threei}  lol
[12:42] {davd} was the agreement typed on pirated software?
[12:42] {Threei}  my first thought
[12:42] {Threei}  MS Word, cracked
[12:43] {nemo} tighten stop to .44 Vad?
[12:43] {Threei}  nah
[12:43] {davd} imo keep an eye on treasuries - staying weak
[12:44] {nemo} My ass is out
[12:47] {nemo} remind me, never breakout trades at lunch
[12:49] {dino} fngn sm l .00
[12:54] {davd} rimm under 44
[12:54] {Threei}  (GR) ECB's Nowotny: Not expecting any contagion effects from a Greece haircut, an exit from the EMU by Greece would not be rational
[12:54] {Threei}  hmm... really?
[12:54] {Threei}  seems the most rational decision to me
[12:55] {Threei}  we borrow, we live luxuriously, we default
[12:55] {Threei}  I like the idea
[12:55] {Threei}  - A restructuring for Greece would be a negative for Austria and Germany
[12:55] {Threei}  now, this I agree
[12:56] {nemo} big seller .46
[12:57] {RonS} ?
[12:58] {davd} nsxx?
[12:58] {RonS} ?
[13:02] {Threei}  Toyota Motor Corp Announces Opening of First Pipeline-Fed Hydrogen Station in the United States
[13:02] {Threei}  - opening of the first hydrogen fueling station in the U.S. fed directly from an active industrial hydrogen pipeline. The station is a collaborative effort between Toyota, Air Products, Shell, South Coast Air Quality Management District (SCAQMD) and the Department of Energy (DOE). The facility will provide hydrogen for the Toyota fuel cell hybrid demonstration program vehicles as well as other manufacturers' fuel cell vehicle fleets in the Los Angeles area.
[13:15] {dino} holi to .69
[13:20] {Threei}  (EU) Finland Social Democrats Party Spokesman: Investors need to share the cost of euro zone bailouts, debt restructuring needs to be looked at as an option
[13:34] {Threei}  (GR) Eurozone sources say there has been no discussion of lowering interest rate on Greek loans
[13:34] {Threei}  - financial press- Says meetings next will not be expected to address revisions to Irish loan package.
[13:35] {dino} holi to .80
[13:36] {dino} out holi .79, +.39
[13:43] {ese} outta here gents....duty calls.
[13:43] {Threei}  take care ese
[13:47] {dino} cya
[13:49] {dino} rmti spike
[13:52] {RonS} rmti article:  http://www.zentrader.ca/blog/?p=6527
[13:54] {RonS} fngn to .19
[13:55] {RonS} tgt .58
[13:56] {dino} was thinking .40
[13:56] {dino} bid rinsed, thats 3 today
[13:58] {RonS} dino:  " i get rinsed so often that i never have to shower."
[14:00] {dino} getting that way
[14:00] {Threei}  X finally worked... held by fingertips
[14:01] {nemo} hit .39
[14:01] {Threei}  touched with 100 shraes... discretionary
[14:01] {RonS} yep
[14:01] {Threei}  I kept
[14:01] {Threei}  no fault in exiting
[14:01] {nemo} hit it 3 times
[14:01] {Threei}  Ok
[14:01] {Threei}  you win
[14:02] {Threei}  I'll submit profit to NYSE
[14:02] {nemo} you were watchint the eagles weren't you
[14:02] {RonS} think nemo would rather lose but make money...
[14:03] {Threei}  nemo exited at .44
[14:03] {RonS} i know...just sayin...
[14:07] {RonS} opinions anyone?  usna .50 break long?...w/ consolidation of course
[14:08] {dino} you were right earlier on it
[14:08] {RonS} scalped it twice for .18 each
[14:13] {dino} gj
[14:14] {Threei} Long Setup:  SLW  .20 break
[14:15] {dino} panl waking up
[14:15] {nemo} yeah, I tried to catch the whole number break, blew right through
[14:18] {Threei}  no go
[14:19] {Threei}  (US) Fed's Lacker: It is better to take preemptive action on inflation, there is a danger to losing ground and being behind the curve - Q&A
[14:19] {Threei}  - Sees possibility that the recent increase in jobless claims may be temporary.
[14:19] {Threei}  - Downward revision of 2011 GDP forecast is reasonable given the weak Q1 GDP report. Q1 GDP weakness expected to be transitory.
[14:32] {Threei} Short Setup: X  .50 break
[14:34] {RonS} got usna .53 to .88 +.35
[14:34] {Threei}  nice
[14:36] {dino}  fngn to .35
[14:36] {dino} gj ron
[14:37] {dino} out slip .31, +.31
[14:37] {RonS} ya i got partial at .44...holding balance fngn
[14:39] {Threei}  wow
[14:40] {Threei}  let's scratch X
[14:40] {Threei}  no news for this spike
[14:41] {RonS} fngn...new supply overhead...baled on balnce  +.33 ave
[14:44] {dino} gj
[14:45] {RonS} your call...thank you
[14:48] {dino} you do better on  my calls than i do
[14:48] {davd} wtf rimm green
[14:48] {dino} i'll have to fake buy and wait intil you post
[14:57] {Threei}  US Senator Levin calls commodity prices a concern, aims to hold hearings on oil market speculation
[14:57] {Threei}  - Reminder: on 5/7 US Attorney General Holder says his energy market working group to probe the recent rapid drop in oil prices; and on 4/21 US Attorney General Holder forms working group to examine fraud in energy markets. Focus will be on oil and gas prices, Obama comments that some of the investigation will geared around oil market traders and speculators.
[14:58] {RonS} rimm
[15:05] {davd} may have been the financials that caused the market pop
[15:08] {RonS} sheesh fngn hit my .58 and more...what a putz...
[15:12] {Threei}  (IR) Ireland Fin Min: Interest rate cuts are not a main priority for discussion at the EU finance minister meeting
[15:12] {Threei}  right
[15:12] {Threei}  they don't want to pay at all
[15:19] {Threei}  masrket decided to rally into close
[15:19] {Threei}  looking for long trade
[15:27] {Threei}  RIMM is flagging
[15:28] {Threei} Long Setup:  RIMM  .40 break
[15:30] {Threei}  looking for another entry
[15:32] {Threei}  not sure about new high for SPY, opullback into close is just as likely
[15:32] {nemo} IWM hit multi-time frame resistance
[15:40] {RonS} slw lod
[15:43] {davd} aapl
[15:43] {Threei}  SLW just can't swim
[15:52] {Threei}  OK, too muddy and too close to eod
[15:52] {Threei}  have a great evening, see you all tomorrow
[15:52] {nemo} gnite4
[15:55] {larisa} bye :)

Monday, May 9, 2011

May 09 2011

Not very active day, ending slightly positive. Market hesitates before determining next step, so a lot of see-saw action.

Session Time: Mon May 09 00:00:00 2011
[08:44] {Threei}  08:15:00
[08:44] {Threei}  *(GR) S&P CUTS GREECE SOVEREIGN RATING TO 'B' FROM 'BB-' (two notch cut); REMAINS ON WATCH NEGATIVE
[08:44] {Threei}  - Downgrade reflects sentiment on debt extension and also due to possible burden sharing with Euro zone official creditors
[08:44] {Threei}  - Greece missits its 2010 fiscal objectives and uncertain whether or not the country can achieve its 2011 objectives.
[08:44] {Threei}  - May possibly further cut rating by an addition one to two notches if fiscal position deteriorates.
[08:44] {Threei}  - Increased risk that Greece might restructurte its commercial debt; Principal reductions of 50% more likely needed -
[08:44] {Threei}  *** REMINDER: When S&P last cut Greece on March 29th, commented that it could cut sovereign ratings by an additional one or two notches if the country's fiscal position worsened
[08:44] {Threei}  08:38:06
[08:44] {Threei}  (GR) Greece Fin Min Papandreou: Questions the credibility, timing of S&P downgrade, calls it unjustified
[08:51] {ese} morning...checking in to se hoaw your doin
[08:51] {ese} how
[08:51] {Threei}  ese :)
[08:51] {Threei}  we are good... better than Greece
[08:51] {ese} not surprising
[08:51] {Threei}  (EU) German govt advisor: Changing approach for the Euro zone periphery countries
[08:52] {ese} have a 9:00am call for a show at the Empress convention center for this company
[08:52] {ese} this morning
[08:53] {Threei}  - Must consider stimulus measures for Greece in addition to austerity
[08:53] {Threei}  Have Market Intel? TradeTheNews.com Tip Line -} Click Here
[08:53] {Threei}  nice
[08:57] {Threei}  (EU) German Govt Advisor Bofinger (Wisemen): Euro zone requires a comprehensive solution at this time or might not remain intact in a year's time
[08:57] {Threei}  a year may be too optimistic
[08:58] {Threei}  ese, they need to consider my photobook as a coprorate gift
[08:58] {Threei}  it's available in Empress tea gift store :)
[09:00] {ese} I'll tell them that.........i'l bet they buy some
[09:01] {Threei}  :)
[09:02] {Threei}  oh, and if store runs out, call me for a hint where to get more
[09:02] {ese} lol....you bet
[09:17] {dino} gm all
[09:18] {Threei}  dino :)
[09:18] {Threei}  interesting dichotomy this morning
[09:18] {Threei}  USD is up,
[09:19] {Threei}  and so are SLW, GLD, USO
[09:19] {RonS} gm to you all
[09:19] {Threei}  Ron :)
[09:20] {Threei}  they have two comtradictory roles: hedge against Euro demise, and assets valued in USD
[09:20] {Threei}  makes things muddy
[09:20] {Threei}  my personal feel is, latter will prevail
[09:20] {davd} slw had good earnings
[09:21] {Threei}  (US) Treasury's Geithner: Reiterates calls for China's growth model to be more focused on domestic demand and market based - US- China econ talks
[09:21] {Threei}  **Reminder: Back on April 8th the US Treasury again delayed its semi-annual currency report due Apr 15th ahead of high-level G20 meetings and China economic dialogue.
[09:21] {Threei}  - NOTE: Treasury had previously delayed its last semiannual report expected for Oct 2010 with a release in Feb 2011.
[09:25] {larisa} gm :)
[09:26] {Threei}  larisa :)
[09:26] {larisa} vad :)
[09:27] {Threei}  I don't have clear play for the opening so far
[09:28] {Threei}  let's let them sort out their differences for a few min
[09:28] {Threei}  then find the no-cracked forhead and crack it
[09:29] {nemo} short slw
[09:30] {jfjf64} mornin
[09:31] {Threei}  jf :)
[09:30] {davd} usd crosses above 50d mvng avg
[09:32] {_samire} Hello...my password is working
[09:32] {davd} x strong barrons bounce
[09:32] {_samire} thanks
[09:32] {nemo} lucky us
[09:32] {Threei}  hi samire
[09:33] {Threei} Long Setup:  SLW  .80 break
[09:33] {Threei}  if holding .70
[09:34] {nemo} right
[09:34] {jfjf64} lol
[09:34] {Threei}  umm
[09:34] {Threei}  say what?
[09:34] {Threei}  lol
[09:34] {jfjf64} what da  f
[09:34] {gregns} omg
[09:34] {Threei}  but hey, that was a good call, wasn't it {GGG}
[09:34] {gregns} yup
[09:35] {Threei}  this is perfect illustration of danger of market orders for those who use it
[09:35] {davd} wo - good call - anyone get it?
06[09:35] * nemo shoots davd
[09:35] {Threei}  fill would have been what, 50 cents above the trigger?
[09:35] {davd} ill take that as a no
[09:36] {Threei}  so kids, never ever go alone to the dark forest and never use market orders
[09:36] {jfjf64} pull bk
[09:36] {nemo} yeah, that would have been a serious BOHICA moment
[09:37] {Threei}  (IR) Ireland PM: A rate cut for Irish bailout may be delivered at next EU finance ministers' meeting - financial press
[09:38] {RonS} C catching some volatility w/ its reverse split
[09:38] {Threei} Short Setup: NUAN  .60 break half lot
[09:39] {Threei}  if stays under .75
[09:40] {Threei}  invalidated
[09:40] {RonS} dang ,rimm doing what it should have Fri afternoon
[09:40] {Threei}  SLW,
[09:41] {Threei}  watch for sharp drop under .90,
[09:41] {Threei}  long entry
[09:41] {Threei}  .90 cross back if holding .80
[09:41] {Threei}  here we go
[09:41] {Threei} Long Setup:  SLW  .90 break if holding .80
[09:42] {Threei}  invalidated but on radar
[09:42] {Threei}  for better entry
[09:42] {jfjf64} always
[09:42] {Threei} Long Setup:  SLW  .80 break if holding .70
[09:42] {Threei}  in
[09:43] {Threei}  1:1, half out
[09:43] {jfjf64} ty
[09:44] {Threei}  1:2, 1/4 out
[09:44] {RonS} .83 to .98  thanks 3i
[09:44] {Threei}  stop to .79
[09:44] {Threei}  welcome guys
[09:44] {Threei}  little patience, and hooked a good one
[09:44] {jfjf64} eye nuan
[09:45] {jfjf64} 22.00 roll over
[09:45] {Threei}  (CH) China Vice Premier Wang: There are some differences between US and China on economic poliices
[09:45] {jfjf64} lol
[09:45] {Threei}  some?
[09:45] {Threei}  lol
[09:46] {RonS} they want to win and we want to suck along...?
[09:46] {Threei}  lol
[09:46] {jfjf64} nuan
[09:46] {jfjf64} grrrrrrrrrrrrrrrrrrr
[09:46] {gregns} tks for the heads up jf, i got a little
[09:47] {Threei}  too thin for reliable executions jf
[09:47] {jfjf64} yes
[09:47] {jfjf64} blow off top
[09:47] {jfjf64} when got pass 22.00
[09:47] {Threei}  something individual player can trade if has a good read, but almost impossible to call for the room
[09:48] {dino} hrs sm l .71
[09:48] {Threei}  who pulled plug on SLW?
[09:50] {Threei}  RIMM
[09:50] {Threei}  pullback, looking for long
[09:51] {Threei}  had .10 in mind, happened too fast
[09:51] {Threei}  maybe second chance
[09:51] {Threei}  if dives under .10 and stays above 45
[09:52] {Threei}  here it is
[09:52] {Threei} Long Setup:  RIMM  .10 break
[09:52] {Threei}  if holding 45
[09:52] {Threei}  target is about .45
[09:53] {Threei} Long Setup:  SLW  .60 break if holding .50
[09:53] {Threei}  invalidated
[09:54] {jfjf64} goto  work   rimm
[09:55] {Threei}  holding well so far, needs little market help
[09:55] {Threei}  stopped
[09:55] {jfjf64} smell rince
[09:55] {Threei}  (GE) German Econ Min: seeing signs that Germany is headed toward a labor shortage
[09:56] {RonS} what? no more turks?
[09:57] {nemo} Ich kann deutsche sprechen, und das Bier ist besser als im den Vereinigten Staaten
[09:57] {jfjf64} yes nemo
[09:57] {RonS} that's what she said...
[09:57] {Threei}  indeed
[09:58] {nemo} ganz toll
[09:58] {Threei} Short Setup: USO  .40 break
[09:58] {Threei}  if stays under .50
[10:02] {Threei}  USD new high
[10:03] {Threei}  USO obeys
[10:03] {Threei}  1:1
[10:03] {Threei}  money made on oil drop has double satisfaction
[10:05] {tomg} won't let me short USO
[10:05] {tomg} which route vad?
[10:05] {nemo} buy sco
[10:05] {Threei}  ARCA
[10:05] {tomg} that's what I used
[10:05] {tomg} strange
[10:06] {Threei}  just limited amount of shares for short then
[10:06] {Threei}  scalpers win
[10:06] {tomg} ah,ok
[10:07] {gregns} SLW break of .60 ?
[10:07] {Threei}  not sure
[10:07] {gregns} me either
[10:10] {Threei}  RIMM
[10:10] {Threei}  should be second attempt here somewhere
[10:10] {Threei} Long Setup:  RIMM  45 break
[10:11] {dino} irf sm l .72 stop .48
[10:11] {Threei}  (PO) S&P: Portugal and Greece remain fiscally challenged, recovery in the EMU is strong, in exports in particular
[10:12] {Threei}  needless to say, RIMM invalid
[10:21] {Threei}  YOKU Strength attributed to circulation of rumor of potential partnership with Apple, discussed on blog late last week- TechNode reports a rumor that Apple might consider using Yoku as its default video app on iPhones and iPads in China, since YouTube remains blocked in that country.
[10:31] {Threei} Short Setup: RIMM  .80 break
[10:31] {Threei}  if stays under .90
[10:31] {Threei}  changing my view on it
[10:33] {nemo} she's ripped me up trying to shortr the break
[10:33] {jfjf64} little battle
[10:37] {Threei}  that SLW break workd after all
[10:38] {gregns} yup
[10:44] {_samire} my first day here...but ugly market
[10:45] {Threei}  so, it's your fault :)
[10:45] {Threei}  NUAN tightened, much easier to execute
[10:45] {davd} silver could get a short squeeze
[10:45] {dino} iphi sm l .60
[10:46] {ese} have a great day all......corporate Canada calls....
[10:47] {dino} cya
[10:47] {Threei}  take care ese... sell them all we've got
[10:47] {Threei}  make them pay their share
[10:53] {RonS} eur lod 1.4260
[10:56] {RonS} so...on iphi i have level 2 up w/ t&s showing little volume but my volume indicator on the chart showed 8100 sh last minute...explanation anyone?
[10:57] {davd} uup closed gap of last 2 weeks
[10:57] {Threei}  in three days
[10:57] {davd} isnt that always the way?
[10:58] {Threei}  mine has no such spike ron... don't hjave explanation other than your software is erroneous
[10:58] {RonS} thanks
[10:59] {_samire} do you trade till market close ?
[11:01] {Threei}  yes but our activity changes with market's
[11:01] {nemo} it's.......
[11:01] {nemo} COMA TIME!!!!
[11:02] {dino} risky, sm l medw .75, wide
[11:06] {Threei} Short Setup: NUAN  .50 break
[11:06] {Threei}  stop above .60
[11:07] {jfjf64} .47
[11:07] {Threei}  target 1:2, 1:3
[11:09] {Threei}  American International Group, Inc Has begun road show for secondary, as expected; expected to run for the next week - US press citing sources
[11:13] {Threei}  lol.. spam mail says:
[11:13] {Threei}  Contact +25.000 of cute real people near your area
[11:13] {Threei}  cute real people?
[11:14] {RonS} better than ugly fake ones?
[11:14] {Threei}  I hope
[11:14] {Threei}  'cause if not, where is the relief...
[11:15] {Threei}  NUAN held by fingertips
[11:17] {dino} irf rinsed
[11:21] {Threei}  stopped
[11:25] {Threei}  market is like amoeba
[11:25] {dino} indeed
[11:27] {Threei}  we need another round of Greece news to shake things up
[11:30] {davd} imo - if commodities hold these level could see another uptrend end of day re slv gld dbo
[11:32] {Threei}  quite possibly - USD run into resistance and is likely to pull back some which will help commodities rebound
[11:38] {davd} email spam and the pakastani govt should be business partners
[11:39] {davd} feels like low volume day?
[11:39] {Threei}  so far, yes
[11:40] {Threei}  it's almost like everything is stuck in slow motion, waiting for the second shoe to dfrop
[11:40] {davd} flop or drop?  rimm holding its lows?
[11:40] {Threei}  this whole Greece thing can't end without bang, can it?
[11:40] {davd} or a broken plate.
[11:41] {dino}  it just might, been going on for a year.
[11:42] {Threei}  I just don't see how
[11:42] {dino} that my be the reason why
[11:42] {Threei}  spreads widen, austerity hurts
[11:42] {dino} may
[11:42] {Threei}  nothing happens to relieve the pain
[11:42] {Threei}  and it's really hard to imagine what could possibly do it
[11:43] {Threei}  to me, debt restructuring or outright default seem unavoidable
[11:43] {dino} re-structure into long term brady bond type deal, imo
[11:44] {Threei}  but debt restructuring, whatever form it takes, means ominous consequences for the rest of eurozone
[11:45] {dino} the way i see it, is restructuring is the preferrable answer. just a matter of time.
[11:45] {Threei}  yes...
[11:45] {Threei}  then Ireland says 'wait you just a minute"
[11:45] {Threei}  and Portugal says "kcuse me"
[11:45] {Threei}  and german taxpayer says "say what?"
[11:46] {Threei}  and whole thing falls apart faster than house of card
[11:46] {dino} and i think the bankers, etc know it, so perhaps priced close to in. and yes the others will follow, but afain, i think most in charge know this, as in they are already working on it
[11:47] {dino} imo, its the only answer. they knew it a year ago
[11:47] {Threei}  I dunno... you give them too much credit imo... for those people, hope triumpns over common sense
[11:48] {Threei}  for them EU collaps is "unthinkable"
[11:48] {Threei}  (GR) Fitch may be planning to downgrade Greece rating 4 or 5 notches to as far as B- from BB+ -Germany press citing sources
[11:48] {Threei}  - Reminder: in March Fitch commented that Greece's sovereign ratings could fall sharply unless the country can regain market access
[11:49] {Threei}  there
[11:49] {Threei}  saga continues
[11:49] {dino} but again, who doesn't already know greek debt is junk
[11:50] {Threei}  true... but what can they do?
[11:50] {Threei}  they are trapped
[11:50] {dino} hell, greece needs milken to package this one
[11:50] {Threei}  debt holders I mean
[11:50] {Threei}  their options range form bad to worse
[11:51] {dino} the debt holders are screwed, they will accept whatever they get. simple as that
[11:51] {dino} their preferred solution, imo, is resturctured and lengthened
[11:51] {Threei}  yes, and look what happens as a result. CDS spreads:
[11:51] {Threei}  Port 658bp (+26)
[11:52] {Threei}  Ire 685 (+30)
[11:52] {Threei}  Italy 165 (+12)
[11:52] {Threei}  Esp 259 (+16)
[11:52] {dino} i understand, but it is what it is. if greece cannot pay, they cannot pay. again, go back to 80s, brady bond across latin america.
[11:52] {Threei}  Greece 1382 (+65)
[11:52] {jfjf64} mkt
[11:53] {jfjf64} flyin
[11:53] {Threei}  yeah... there difference is, latin america didn't have formal union wioth single currency... Europe does, and that's the structure survival of which is at stake
[11:53] {Threei}  IMO, it won't
[11:55] {dino} well, if i were the germans, i would not want it to survive, but in eother case, greece will be restuctured, then the next etc. better some than none
[11:55] {dino} it's really not greece's problem anymore, its the creditors' problem
[11:56] {Threei}  true :)
[11:56] {dino} ;)
[11:56] {Threei}  as old joke goes, if you borrowed 100 bucks and can't return it, it's your problem... if 100 million, it's your lender's problem
[11:56] {dino} bingo!
[11:57] {RonS} John Paul Getty said it first...
[11:58] {dino} its a game of guts poker and greece is now holding the aces
[11:58] {RonS} in the '60's...numbers in original quote was $50k and $10 million
[11:59] {RonS} ...similat to Sen Everett Dirkson's quote;  ...a million here, a million there...and pretty soon you are talking about real money
[12:00] {dino} i just see it as the euro countries went "all in"
[12:00] {RonS} similar...also from the '60's ...the numbers since have been blown out of proportion
[12:00] {dino} may we live in interesting times
[12:01] {nemo} as long as there's alcohol
[12:01] {RonS} Shakespeare...or Mae West?
[12:01] {dino} but of course
[12:02] {dino} ppl spike
[12:02] {Threei}  MOS
[12:02] {Threei}  secondaries
[12:04] {Threei}  (GR) Greece Labor Min Katseli: may be difficult to return to bond market in 2012, discussing alternatives
[12:06] {Threei}  no news for this market spike
[12:07] {Threei}  watching TZA as a vehicle to play market pullback
[12:09] {Threei} Long Setup:  TZA  .70 break
[12:09] {Threei}  stop for scalpers under .65, day traders .60
[12:10] {Threei}  target about .95
[12:13] {Threei}  OK SPY, enough playing hero, just drop already
[12:14] {nemo} IWM is going to  84.15 first
[12:14] {nemo} stopped
[12:15] {Threei}  yeah
[12:16] {Threei}  jellyfishy monday
[12:18] {_samire} TZA still valid ?
[12:19] {Threei}  no
[12:19] {nemo} I would say here
[12:19] {_samire} ok
[12:19] {Threei}  (GR) Moody's places ratings on review for downgrade
[12:20] {Threei}  if TZA pulls back to about .50 - .55, will be interested in double bottom play
[12:20] {_samire} it does not say any where above TZA is not valid ?
[12:21] {nemo} O
[12:21] {Threei}  here it is:
[12:21] {nemo} , om /61
[12:21] {Threei}  [12:09] {Threei} stop for scalpers under .65, day traders .60
[12:21] {nemo} i'm in .61
[12:21] {RonS} 10:14 nemo stopped
[12:21] {Threei}  under those support levels play is invalidated or stopped
[12:21] {RonS} 10:14 Threei  yeah
[12:21] {nemo} yeah, and went back in: [12:19] {nemo} I would say here
[12:22] {dino} out hrs .01, +.30
[12:24] {nemo} i'm out here
[12:25] {nemo} basically flat
[12:25] {dino} zzzzzzzzzzzzzzzzzz
[12:25] {nemo} idiot me
[12:32] {dino} iphi to flat
[12:32] {dino} nothings' moving
[12:35] {Threei}  still watching .50 - .55 for entry
[12:38] {Threei}  stop under .45
[12:42] {Threei}  if this one is working, it's a milk trade
[12:43] {Threei}  eventual target is about 35.10 - 35.20
[12:54] {Threei}  half out
[12:54] {Threei}  .72
[12:55] {Threei}  next partal target is about .90 - .95
[12:55] {Threei}  stop .49
[12:55] {Threei}  took its sweet time but finally came through
06[13:00] * Threei kicks TZA in the rear
[13:38] {Threei}  (PO) Portugal authorities begin criminal investigation into ratings agencies
[13:38] {Threei}  lol
[13:38] {Threei}  you downgrade me, I investigate you
[13:39] {Threei}  China official claims the US and China officials have reached a consensus, due for announcement tommorow
[13:39] {Threei}  - Reiterates two countries have more in agreement than they do in disagreement, concerns from Western countries about the China FX rate are 'unfounded.'
[13:39] {Threei}  - Notes the US is the only country that has a substantial trade imbalance with China.
[13:41] {Threei}  must be the longets trade in a month
[13:41] {Threei}  if not a year
[13:50] {dino}  .
[13:50] {Threei}  (EG) US Officials evaluating options for Egypt, including debt relief - world press
[14:14] {Threei} Long Setup:  SLW  .60 break
[14:14] {Threei}  stop under .50
[14:15] {Threei}  TZA scalpers win
[14:17] {Threei}  no go SLW
[14:20] {Threei}  anyone is still awake?
[14:21] {RonS} how not, feel like a cutter in a razor blade factory...
[14:22] {dino}   gotta hop, back in hour or so
[14:22] {RonS} :)
[14:23] {Threei}  SLW rinse
[14:28] {Threei}  so far almsot flat day for me
[14:28] {Threei}  just slightly in green, not enough to justify ink spent on marking it as green
[14:31] {Threei}  as jf said, rinses are so wrong
[14:53] {Threei} Short Setup: AMZN  201 break half lot
[14:53] {Threei}  if stays under .15
[14:53] {Threei}  invalidated
[14:55] {dino} iphi to .91
[14:55] {Threei}  if consolidates here for a couple min, will be valid again
[15:03] {davd} amzn?
[15:03] {Threei}  ?
[15:04] {davd} back on radar?
[15:04] {Threei}  yes but need some consolidation closer to support
[15:04] {davd} ok - sorry.
[15:07] {dino} out iphi .935 ave +.335
[15:08] {Threei}  better than rinse
[15:09] {dino} y
[15:28] {Threei}  friking SLW
[15:28] {Threei}  that was not very noble of it tyo sdhake us out
[15:28] {Threei}  shake
[15:36] {Threei} Long Setup:  X  .65 break
[15:36] {Threei}  if stays above .60
[15:37] {Threei}  just a scalp most likely
[15:42] {Threei}  I dislike most Mondays, and today is no exception
[15:53] {Threei}  feel free to take profit on X
[15:53] {dino} me too, mondays are usually a low day for me, as are fridays
[15:56] {Threei}  well, finishing in green but barely enough to justify waking up
[15:57] {Threei}  Ok guys, thank you all, have a great evenng
[15:57] {Threei}  see you tomorrow for more active day
[15:57] {tomg} thanks, Vad
[15:57] {nemo} gnite
[15:58] {dino} cya

Friday, May 6, 2011

May 06 2011

Nice end to the week with most trades working to the tune of 1:2 - 1:3. No losing days either.

[08:30] {Threei}  *(US) US APR CHANGE IN NONFARM PAYROLLS: 244K V 185KE; CHANGE IN PRIVATE PAYROLLS: 268K V 200KE;
[08:31] {Threei}  *(US) APR UNEMPLOYMENT RATE: 9.0% V 8.8%E
[08:31] {Threei}  *(US) APR AVG HOURLY EARNING M/M: 0.1% V 0.2%E; AVG WEEKLY HOURS:34.3 V 34.3E
[09:16] {_rizvisy1} gm all
[09:16] {Threei}  riz :)
[09:17] {nemo} tell dino to go back to bed...silver bounced hard
[09:17] {_rizvisy1} gm Vad
[09:17] {RonS} gm dino out at golf tourney today
[09:17] {Threei}  nemo, ron :)
[09:17] {Threei}  yeah, he knew
[09:27] {patience} good morning, is it friday yet?
[09:28] {Threei}  hopefully
[09:29] {larisa} gm :)
[09:29] {Threei}  larisa :)
[09:30] {Threei} Short Setup: SLW  .70 break
[09:31] {jfjf64} mornin
[09:31] {Threei}  invalidated
[09:31] {Threei}  jf :)
[09:31] {Threei} Short Setup: SLW  .80 break
[09:32] {Threei}  .92 stop
[09:32] {Threei}  no go
[09:32] {jfjf64} stubborn
[09:32] {Threei}  should be ready soon
[09:33] {nemo} silver strong
[09:33] {Threei} Short Setup: SLW  36 break
[09:34] {Threei}  invalidated
[09:34] {Threei}  UUP donwtick supported it here
[09:34] {nemo} slv parabolic
[09:36] {Threei}  .30 was it but no clear setup
[09:36] {Threei}  long now, 36 break
[09:36] {Threei}  if holding .90
[09:37] {davd} up 3.2pct on slv is far from parabolic.  :D
[09:38] {nemo} this morning, did 25 million shares already
[09:38] {Threei} Short Setup: CAT  .25 break half lot
[09:38] {Threei}  grrrr
[09:38] {Threei}  too fast
[09:38] {nemo} $2.5 from the low
[09:38] {jfjf64} grr
[09:39] {Threei}  second chance
[09:39] {Threei}  same setup
[09:39] {Threei}  1;1
[09:40] {Threei}  stop .31
[09:40] {jfjf64} nice
[09:41] {jfjf64} out.11
[09:42] {Threei}  finally
[09:42] {Threei}  out .93
[09:44] {patience} in fr.to (first majestic silver)
[09:44] {Threei} Short Setup: SLW  36 break
[09:44] {jfjf64} read my mind
[09:45] {Threei}  stop is obvious
[09:45] {Threei}  1:1
[09:45] {Threei}  scalpers win
[09:46] {Threei}  once more
[09:46] {Threei}  same setup
[09:46] {Threei}  same stop
[09:46] {Threei}  1:1 again
[09:46] {Threei}  come on, follow through this time
[09:47] {Threei}  .05 stop
[09:47] {Threei}  no... scalpers win again
[09:47] {jfjf64} uup
[09:48] {jfjf64} grrrrrr
[09:48] {Threei}  action is fast and furious this morning
[09:48] {jfjf64} very
[09:49] {jfjf64} slw  dtop
[09:49] {Threei}  unless breaks .35
[09:50] {Threei} Short Setup: USO  .40 break
[09:50] {Threei}  if stays under .50
[09:51] {Threei}  target .15
[09:51] {Threei}  two partials
[09:55] {jfjf64} ya lk slw   l
[09:55] {jfjf64} .36
[09:55] {jfjf64} break
[09:56] {Threei}  no go USO
[09:56] {Threei}  need SLW to form closer support for a trade
[10:05] {Threei} Long Setup:  X  .20 break
[10:05] {Threei}  correction, .10 break
[10:06] {Threei}  stop under 46
[10:06] {Threei}  1;1
[10:10] {Threei} Short Setup: RIMM  .70 break
[10:12] {Threei}  X 1:2
[10:13] {Threei}  1:3,, out
[10:18] {jfjf64} slw
[10:19] {jfjf64} dtop
[10:19] {Threei}  RIMM 1:1
[10:19] {Threei}  took its sweet time
[10:21] {Threei}  1:2
[10:24] {Threei}  hmmm.. interview with bank of canada rep ends with this:
[10:24] {Threei}  - Notes that there will be a surcharge on globally systemically important financial institutions
[10:24] {Threei}  idiots win it seems
[10:27] {Threei}  over 1:3, out in full
[10:36] {Threei} Long Setup:  SLW  .60 break
[10:37] {Threei}  stop under .50
[10:39] {Threei}  1;1
[10:40] {Threei}  1;2
[10:40] {Threei}  anyone is awake?
[10:41] {Threei}  third win a row, no single breathe
[10:41] {_rizvisy1} yeah got it thnx
[10:41] {gregns} yup, sure enough
[10:41] {_rizvisy1} out full at .73
[10:41] {patience} fr.to up 11.72%, will cut it loose soon unless silver futures keep going up
[10:47] {Threei}  84% Think Its Likely Pakistan Knew Where Osama Was Hiding
[10:47] {Threei}  Just One-in-Five Think They Share The Ideology of the Average Democrat or Republican in Congress
[10:47] {Threei}  lol,l who those reps are representing then?
[10:49] {RonS} well...the people in their district...which is different than those from elsewhere
[11:21] {RonS} channeling dino...sm l tpc .72  s/l .48
[11:27] {Threei}  not bad channeling
[11:31] {RonS} out tpc .20  +.48
[11:34] {Threei}  nice one dino... errr ron
[11:35] {RonS} ty
[11:39] {RonS} xec action...
[11:54] {gregns} inverted c & h on SLW?
[11:55] {Threei}  looks like
[11:55] {Threei}  but do keep an eye on UUP
[11:55] {Threei}  everything with commodities these days is about USD
[11:57] {Threei}  see?? :)
[11:59] {gregns} ty yup
[12:00] {Threei}  UUP sharp pullback now, SLW bouncing
[12:00] {Threei}  .24 - .36
[12:00] {Threei}  easy scalp
[12:09] {Threei}  wow
[12:09] {Threei}  (GR) Greece could consider leaving the Eurozone and reintroducing its own currency; EC calls emergency meeting tonight - German press citing German govt sources
[12:09] {Threei}  - Eurozone Fin Mins discussing a possible debt restructuring at a highly confidential meeting in Luxembourg Friday; sources say German officials aim to do whatever is possible to prevent Greece from leaving the EMU. German delegation will bring an internal paper to the meeting that warns of dire consequence of Greece leaving the EMU.
[12:09] {Threei}  - Follow up 12:00ET: EU's Juncker's spokesperson denies German press report of an emergency meeting on Greece tonight
[12:10] {Threei}  EU's Juncker's spokesperson denies German press report of an emergency meeting on Greece tonight - financial press
[12:10] {Threei}  - Follow Up: Austria Fin Min calls a Euro zone breakup 'unthinkable.'
[12:10] {Threei}  - France Fin Min can neither confirm or deny report from the German press on emergeny meeting on Greece.
[12:10] {Threei}  stay alert guys...
[12:11] {Threei}  when these things start unraveling, they can unravel with mind-boggling speed
[12:12] {Threei}  that's what pushes USD
[12:12] {Threei}  shorted SLW .30 break again...
[12:12] {Threei}  there was no trigger, pure USD play
[12:17] {davd} greece threatens to lv euro
[12:17] {davd} cnbc
[12:18] {Threei}  ummm
[12:18] {Threei}  davd...
[12:18] {Threei}  take me off ignore, will ya
[12:18] {davd} sorry  speed first
[12:18] {nemo} Greece threatening to leave the Euro zone
[12:18] {davd} they threatened again?
[12:18] {Threei}  third time over last 5 min
[12:19] {davd} 4th is a charm.  (this way greece can default and start over?)
[12:23] {Threei}  - Follow Up; Germany Govt source claims there are no plans for Greece to leave the EMU
[12:23] {Threei}  - Follow Up: Slovak Fin Min notes is unaware of any meeting on Friday
[12:23] {Threei}  - Eurogroup spokesperson comments that EMU ministers are not meeting today or over the weekend
[12:24] {Threei}  just imagine all the phone calls that went all over within last 15 min
[12:34] {Threei}  if this is not just unfounded rumors, this weekend may turn into mayhem
[12:34] {RonS} people citing all of this from a der speigel article...
[12:35] {RonS} http://bit.ly/mrvqsQ
[12:35] {Threei}  yeah
[12:35] {Threei}  funny part:
[12:35] {Threei}  Austria Fin Min calls a Euro zone breakup 'unthinkable.'
[12:35] {Threei}  uhhu
[12:35] {Threei}  so was USSR breakup
[12:36] {RonS} guy's grandfather said the same thing aboutn the nazi invasion of austria
[12:36] {Threei}  some still can't think of it
[12:37] {nemo} Peace in Our Time
[12:38] {Threei}  (GR) Senior Greek central bank official: Denying speculation of Greece potentially leaving the Eurozone; Der Spiegel report on Greece leaving EU is "ridiculous"
[12:39] {Threei}  and not, for the soothing lulaby:
[12:39] {Threei}  (US) US President Obama reiterates that the economy is gaining but challenges remain
[12:40] {Threei}  (EU) Some ministers are visiting Luxembourg to discuss Portugal, Greece, and ECB succession, yet it is not an emergency regarding Greece - financial press citing sources
[12:40] {Threei}  - Follow up: IMF has no comment on report about Greece in Germany press
[12:41] {RonS} eur just busted 1.44
[12:41] {Threei}  UUP skyrocketing
[12:41] {RonS} 1.4374
[12:46] {Threei}  Euro vs US Dollar Fresh session lows below $1.44, breaching 2011 uptrend line; EUR/JPY falls below 115.55 - post Yen intervention Mar 21st resistance
[12:52] {RonS} fcx going for gap fill
[12:58] {davd} bare in mind, greece out of euro would be good for the euro.  kneejerk reaction re uup being up may be wrong.  imo
[12:58] {nemo} I'm not going to bare my mind
[12:59] {davd} you will beer your mind.
[13:00] {Threei}  I dnno davd.. it's too complicated to be qualified as positive or negative without plenty of added qualifiers
[13:01] {nemo} yeah, I'm all for pickling brain matter...mmmhh wonder if Dr. Lechter ever pickled them
[13:01] {davd} i'm skeptical of anything that brings dollar higher :(
[13:01] {Threei}  why.. stop printing new ones and it hnas nowhere to go but up
[13:02] {davd} yes, but we wont
[13:04] {davd} reuters - there is a meeting
[13:07] {RonS} action in nbg makes me wonder///
[13:07] {RonS} ...
[13:07] {Threei}  meanwhile, for soothing news:
[13:07] {Threei}  Ivory Coast's Quattara officially sworn in as President
[13:08] {RonS} the guy's potuguese?
[13:08] {RonS} portuguese
[13:09] {RonS} eur back above 144....144.10
[13:11] {Threei}  rallies in pakistan protesting the raid
[13:11] {Threei}  (GR) Greece Finance Ministry Statement further denies press speculation Greece is considering leaving EMU
[13:11] {RonS} lol
[13:13] {RonS} was agog at actual pictures of what was reported re the "mansion"
[13:13] {davd} animals
[13:13] {RonS} guess i live in a real mansion...
[13:16] {davd} i'm glad that guy burned the koran - stupid, but he is right.
[13:16] {RonS} lol...gmail ad "spam primavera"...guess in Paki it would be a "gourmet dinner"
[13:17] {Threei}  he is an idiot
[13:17] {Threei}  but those who went on streets protesting are not any smarter
[13:17] {Threei}  (GR) German Finance Ministry's Schaeuble and Asmussen are attending the "crisis meeting" in Luxembough - financial press citing German coalition govt source
[13:18] {RonS} .spx back to pre nfp
[13:20] {RonS} The Greek Finance Ministry has rejecting the Der Spiegel article. Says it is 'provocative' and plays to.
[13:20] {RonS}  plays to 'speculative games'
[13:24] {RonS} see an X short 3i?
[13:24] {Threei}  probably
[13:25] {Threei}  there is a chaance of double bottom
[13:25] {Threei}  but breakdown is more likely
[13:25] {Threei}  my concern is:
[13:25] {Threei}  situation is more news-driven than chart-driven right now
[13:25] {Threei}  aanother headline can turn things around
[13:25] {Threei}  for the next 3 min, until new headline comes in
[13:44] {Threei}  Michael Moore rants about Bin laden being "assasinated, not granted fair trial"
[13:45] {nemo} enemy combatant..not a civil criminal...wtf
[13:50] {Threei}  hawaii snowstorm warning
[13:50] {Threei}  where is al gore
[13:50] {Threei}  send him there to clean thwe snow
[13:52] {RonS} snow all the time on the volcanoe...meaning regularly...for get the altitude but it is up there
[13:52] {RonS} from base in the ocean the tallest mountain in the world...
[13:53] {RonS} man is rimm w e a k
[13:55] {Threei}  no, snow forecast fo the "normal" hawaii
[13:55] {Threei}  not the observatory heights
[13:56] {RonS} lol there is a normal hawaii?...never seen such a thing
[13:56] {Threei}  hehe... true
[13:56] {RonS} my brother's place on the big island has no heat
[13:56] {Threei}  still, my favorite place on earth
[13:57] {RonS} guess he will have to crank up the plasma tv
[13:57] {RonS} turn on the stove
[13:59] {RonS} surprised rimm not getting more volume here...slow death...
[14:23] {Threei}  looks breakdownish
[14:26] {nemo} crude below 98
[14:34] {jfjf64} ufs
[14:34] {jfjf64} looks down
[14:35] {Threei}  everything does
[14:35] {gregns} isn't SLW dejavu, possible breakdown of lod towards end of day?
[14:35] {Threei}  totally
[14:39] {RonS} flash crash anniv.
[14:39] {jfjf64} yup
[14:39] {jfjf64} -900 p[oints
[14:39] {_rizvisy1} TZA up n up
[14:40] {Threei}  of course it is
[14:40] {Threei}  market is down
[14:41] {_rizvisy1} when the going gets tough, tough gets going
[14:41] {Threei}  whate else can TZA do but go up
[14:41] {Threei}  I dunno... my version is different
[14:41] {Threei}  when the going gets tough, tough shrugs, drinks and goes to the beach, leaving suckers to fight
[14:42] {_rizvisy1} isn't it another reciprocal correlation
[14:42] {_rizvisy1} lolllllllll
[14:42] {_rizvisy1} and its already weekend...
[14:42] {_rizvisy1} n Osama is dead too...
[14:42] {Threei}  TZA is inverse ETF
[14:42] {_rizvisy1} ok
[14:42] {Threei}  it goes up when market goes down by definition
[14:43] {_rizvisy1} it looks like that, isn't it a good opportunity...for trade?
[14:43] {Threei}  only if you have a firm read on the market
[14:43] {_rizvisy1} hummmm
[14:44] {Threei}  if you are sure it goes down, you can play straight ETF long or inverse ETF short
[14:44] {Threei}  ummm... other way around of courzse
[14:44] {Threei}  my brain went on the beach already obviously
[14:45] {_rizvisy1} you are right for long, for this type of market hours
[14:57] {RonS} whatcha think 3i...everything is so correlated right now i see no edge for last hour
[14:58] {Threei}  feels like little bounce, then selling
[14:58] {Threei}  I would probably try this:
[14:58] {nemo} 134.25 on spy is weekly and monthly pivot point with the daily at 133.87...likely to be rangebound unless they want to test yesterday's lows
[14:58] {Threei} Long Setup:  RIMM  46 break
[14:58] {nemo} vwap 134.85
[14:59] {Threei} Long Setup:  SLW  .50 break
[14:59] {Threei}  nothing big, scalp or 1:2
[14:59] {Threei}  both
[15:00] {Threei}  then will start looking for short
[15:03] {Threei}  SLW 1:1
[15:04] {Threei}  RIMM stop to .95, was within 1-2 cents to 1:1
[15:04] {Threei}  so let's make it tighter
[15:05] {jfjf64} comon rimm
[15:05] {Threei}  SLW 1:2, out
[15:05] {jfjf64} gj
[15:05] {Threei}  ty
[15:06] {RonS} gj 3i  thanks
[15:06] {Threei}  :)
[15:08] {gregns} tks for the calls,
[15:08] {Threei}  sure thing
[15:13] {tomg} ty vad
[15:13] {Threei}  yw
[15:14] {Threei}  let's pick a short candidate
[15:14] {RonS} how tall is riz?
[15:14] {Threei}  RIMM seems to be one
[15:14] {Threei}  lol
[15:14] {Threei}  X another
[15:16] {_rizvisy1} 5'9''
[15:16] {Threei} Short Setup: X  .50 break
[15:20] {Threei} Short Setup: RIMM  .95 break
[15:20] {Threei}  if stays under .005
[15:20] {Threei}  .05
[15:24] {Threei}  RIMM not a scalp
[15:24] {Threei}  .85 is last line of defense
[15:24] {Threei}  when losing it there is nothing to hold it
[15:25] {jfjf64} patial there
[15:27] {jfjf64} comon spy
[15:28] {Threei}  it's trying
[15:28] {Threei}  honestly
[15:28] {Threei}  14:58] {Threei} feels like little bounce, then selling
[15:28] {Threei}  like clockwork
[15:28] {Threei}  and calls made accordingly to this read work with nice percentage
[15:29] {Threei}  ok
[15:29] {Threei}  half out RIMM
[15:30] {jfjf64} you want lower rimm
[15:31] {Threei}  I do... thing looks wounded badly
[15:31] {Threei}  look at daily
[15:31] {Threei}  pure unmitigated disaster
[15:32] {_rizvisy1} lol,thats while short works....,How long is Rons.....
[15:36] {jfjf64} hmm
[15:36] {jfjf64} careful rizzy
[15:37] {nemo} wrong chat room
[15:37] {jfjf64} lol
[15:38] {Threei}  lol
[15:38] {jfjf64} instead 3i
[15:38] {jfjf64} 3xxx
[15:38] {_rizvisy1} just replying RonS, he ask how short is Riz?
[15:38] {RonS} lol
[15:39] {nemo} yeah
[15:39] {nemo}  whatever
[15:39] {_rizvisy1} you all know scalpers win
[15:39] {jfjf64} i need drink
[15:39] {jfjf64} happy hour
[15:39] {jfjf64} soon
[15:39] {jfjf64} soon as rimm  pays us
[15:40] {RonS} cap it u late...
[15:40] {RonS} submit to the will of 3i...
[15:41] {RonS} or not...
[15:41] {Threei}  lol
[15:41] {nemo} happy hour started at 11:00
[15:42] {Threei}  .01 stop
[15:43] {Threei}  ok... scalpers win
[15:43] {jfjf64} left  b/e
[15:43] {Threei}  yeah
[15:44] {Threei}  I just wanted to be cute and give it a bit more breathing room
[15:44] {Threei}  ok guys, nice week
[15:44] {RonS} schnitzed $50 out of that fiasco...good 'nuff
[15:44] {Threei}  thank you all
[15:44] {Threei}  have a great weekend
[15:44] {Threei}  see you all on Monday
[15:44] {jfjf64} good day
[15:44] {jfjf64} ty
[15:45] {larisa} bye :)
[15:52] {_rizvisy1} Great weekend all bye

Thursday, May 5, 2011

May 05 2011

[15:00] {RonS} 98.48
[15:04] {jfjf64} nvls s .20
[15:06] {jfjf64} dieeeeeeeeeeeeee
[15:06] {Threei}  wow
[15:11] {Threei}  what the deuce
[15:11] {Threei}  no news
[15:14] {Threei}  SLW bounce scalp
[15:14] {Threei}  ugh, don't chanse
[15:14] {Threei}  .40 break was it
[15:14] {RonS} huge buyers showing up in es nq futes
[15:14] {RonS} 2.0 mil contracts in es, 720k in nq...they could get overwhelmed
[15:14] {RonS} ...order flow is going aganist them
[15:15] {Threei}  1:1... crap
[15:15] {jfjf64} rats
[15:15] {Threei}  SLV Spot silver extends decline below $35/oz
[15:16] {Threei}  1:2, double crap
[15:16] {jfjf64} double rats
[15:16] {RonS} got .43 to .59  thanks 3i
[15:16] {Threei}  wtg
[15:16] {Threei}  1:3 - triple
[15:16] {dino} 1335 gap filled
[15:16] {Threei}  I myself missed it typing, lol
[15:17] {dino} markets really fell off, news?
[15:18] {RonS} the markets should have been selling off all day w/ what happened in oil, metals and the $
[15:19] {RonS} .spx should be down +20...
[15:19] {dino} uso gap 36.48 area
[15:23] {RonS} gmcr breaking into gap
[15:24] {dino} s/p -2.8% from week high
[15:24] {dino} looks like i am going to miss some fun tomorrow
[15:25] {Threei}  what's tomorrow?
[15:25] {dino} golf tourny
[15:27] {Threei}  CME temporarily extends crude oil futures limit down from $10 to $20 - CNBC
[15:27] {Threei}  - Because futures closed near the limit down of $10, CME says it will extend the limit down for the rest of today's electronic session. Will revert back to a $10 limit down tomorrow.
[15:28] {RonS} wow...are these guys political or what?  silver margins, now this
[15:28] {Threei}  I am not sure I get the logic of this
[15:28] {Threei}  but whatever
[15:28] {dino} socking it to the speculators, changing the rules during the game
[15:28] {Threei}  their thinking is beyond rational
[15:28] {RonS} 'cause the guvmint and ben ant oil down
[15:28] {RonS} want
[15:28] {dino} yes
[15:29] {Threei}  well... I do too :)
[15:29] {dino} game remains rigged, just like random halts
[15:29] {Threei}  in fact, $3 per barrel seems about right to me
[15:29] {dino} and they say market manipulation does not happen, lol
[15:29] {RonS} back to the '60's
[15:29] {Threei}  but they say it's us dino
[15:29] {Threei}  I say it's them
[15:29] {dino} last drop was 35 or so ron
[15:30] {dino} it is them, ie govt
[15:30] {dino} scanners solid red for minutes, unusual
[15:30] {_rizvisy1} only TZA is shootin star
[15:31] {dino} reminds me of the govt blaming thecshorts in '08, now its the lonfgs on commodities
[15:31] {Threei}  of course... TZA is inverse
[15:31] {jfjf64} joke
[15:31] {dino} in any case, imagine a lot of margin calls starting
[15:32] {Threei}  I feel all warm and fuzzy imagining that
[15:33] {dino} back in ten or so. want to see how this closes
[15:33] {dino} gut says retail benefits as well as restaurant chains from this drop
[15:33] {davd} airlines, fedex benefit
[15:34] {dino} y
[15:51] {Threei}  weak bounce into close
[15:51] {Threei}  unimpressed
[15:51] {Threei}  this seloff is far from over I suspect
[15:52] {RonS} nfp in the a.m.
[15:54] {Threei}  ok guys, thaank you aall
[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {jfjf64} ty