Nice day with 1 stop and the rest of trades working like charm. Best thing - one of them was a milk trade.
Milk trade - rare species but when it comes along, it's so sweet. It's our code name for a trade which we milk for all it has - not scalping, not even taking our traditional 1:3 r/r with 3 partials. This one gave us 1:6, with risk merely 10 cents. The hardest thing about milk trades? To identify them early. This one gave clues as it was consolidating after triggering. Normally SLW drops with each USD uptick - today it was holding much better than usual. Normally, over the course of last weeks it was very willing to drop - today it seemed to absorb a lot of selling with minimal give, and bounced vigorously. All in all, it looked like a trap for shorts that got too complacent. Another difficulty for the newer traders is to sit tight and let the trade develop. This one gets easier with time, as a trader grows wiser and stops intruding with natural course of things. Principle Wu Wei, familiar to A Taoist Trader course readers, is applicable here.
[10:51] {Threei} starts looking to me like milk trade candidate
[10:58] here is my personal plan for this trade
[10:58] stop is obvious, under .20
[10:59] first partial is around day high, 45
[10:59] second around .60
[10:59] third is to be determined yet, but the general idea is to let it run
[10:58] here is my personal plan for this trade
[10:58] stop is obvious, under .20
[10:59] first partial is around day high, 45
[10:59] second around .60
[10:59] third is to be determined yet, but the general idea is to let it run
Chart shows how the plan worked.
Session Time: Wed May 25 00:00:00 2011
[08:04] {davd} hi all
[08:30] {Threei} *(US) APR DURABLE GOODS ORDERS: -3.6% V -2.5%E; DURABLES EX TRANSPORTATION: -1.5% V 0.5%E
[08:31] {Threei} looks healthy
[08:39] {nemo} let me guess...slw short
[08:40] {Threei} hey... it was long yesterday
[08:40] {nemo} That was then, this is now...stop living in the past
[08:41] {Threei} ok... I'll try
[08:41] {nemo} no try, either do or don't do
[08:41] {Threei} ok... I'll try not to try
[08:41] {nemo} so, it's a definite maybe?
[08:42] {Threei} probably
[08:42] {nemo} o.k. Hamlet
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[09:04] {patience} gm guys
[09:04] {Threei} morning patience
[09:06] {ese} mornin
[09:06] {nemo} hello
[09:07] {Threei} hi ese
[09:09] {ese} nemo...vad...
[09:15] {Threei} (GR) EU's Damanaki: Membership for Greece in the EMU is at risk - press interview
[09:15] {Threei} where is Ron??
[09:15] {Threei} ahha, here he is
[09:16] {RonS} gm...like i said...give 'em the boot
[09:17] {samire} gm
[09:17] {Threei} (GR) ECB's Stark: Greece should push to achieve a primary surplus, debt cut is not part of that solution; reaffirms opposition to a Greece restructuring, as it would cause a run on Greek banks
[09:17] {samire} ford
[09:17] {Threei} ron, samire :)
[09:18] {Threei} Greek tragedy seems to accelerate
[09:19] {Threei} - Greece needs to agree to tougher measures or return to the drachma
[09:22] {rizvisy1} gm everyone
[09:22] {Threei} riz :)
[09:23] {jfjf64} mornin
[09:23] {Threei} jf :)
[09:26] {nemo} AIG not shortable
[09:27] {dino} what is the point of this, jpm raises avgo to buy, target 31. its at 32
[09:28] {dino} in any case, report good. gap above 34.30s
[09:28] {Threei} hehe
[09:28] {Threei} value added
[09:28] {dino} yeah, thanks alot
[09:29] {jfjf64} slw thoughts
[09:29] {samire} ready
[09:30] {Threei} long I think, jf
[09:31] {Threei} just want clean setup
[09:31] {jfjf64} always clean
[09:33] {Threei} ok
[09:33] {Threei} Long Setup: SLW .10 break
[09:33] {Threei} if holding 36
[09:34] {Threei} 36 break now
[09:34] {Threei} if holding .90
[09:34] {jfjf64} in
[09:35] {Threei} no go
[09:36] {samire} it went to 36.01
[09:36] {samire} i took a loss
[09:36] {Threei} yes
[09:36] {Threei} rinse...
[09:36] {Threei} grrr
[09:37] {jfjf64} rrrg
[09:37] {dino} rgrr
[09:37] {nemo} rrgr
[09:38] {jfjf64} ool
[09:38] {nemo} cmon' patience
[09:38] {nemo} grow up jf
[09:38] {jfjf64} y
[09:38] {nemo} spit your coffee into your keyboard?
[09:39] {Threei} great. goes right into 1:3 which was my target
[09:39] {dino} aap sm l .73 thinny
[09:39] {Threei} oh well
[09:40] {jfjf64} all samire fault
[09:40] {Threei} not nemos??
[09:40] {nemo} can't blame it on him, he's here...blame it on LES
[09:41] {samire} that was a loss for me...what about every body ?
[09:41] {jfjf64} whos nemo
[09:41] {jfjf64} oh boyyyyyyy
[09:41] {Threei} samire, it triggered, then stopped
[09:41] {Threei} it was a stop for anyone who followed the rules
[09:41] {samire} thanx
[09:41] {nemo} you realize, jf, that comment makes more sense than is obvious
[09:41] {dino} lol
[09:41] {jfjf64} ohh boyyyyyyyyyy
[09:42] {jfjf64} whos nemo
[09:42] {jfjf64} ??
[09:42] {nemo} yep
[09:42] {jfjf64} lol
[09:42] {nemo} you know what "nemo" means in Greek?
[09:42] {jfjf64} lets get serious 3i
[09:42] {Threei} Short Setup: SLW .30 break
[09:43] {Threei} invalidated
[09:44] {jfjf64} fcx
[09:44] {jfjf64} .59
[09:44] {jfjf64} break
[09:44] {jfjf64} imo
[09:44] {jfjf64} nope
[09:45] {jfjf64} nemo greek
[09:45] {jfjf64} ?
[09:45] {nemo} yep
[09:46] {nemo} Tales of brave Ulysses
[09:46] {jfjf64} ohh boyyyyyyyyyy
[09:47] {Threei} same setup again
[09:47] {Threei} Short Setup: SLW .30 break
[09:48] {Threei} if stays under .40 for scalpers
[09:48] {Threei} .45 day traders
[09:48] {dino} vit pulp today
[09:52] {Threei} target is about 36.05, three partials
[09:52] {Threei} or two
[09:52] {jfjf64} comon great ulysses
[09:52] {jfjf64} help
[09:53] {Threei} UUP uptick
[09:53] {dino} vit sm l .24
[09:53] {samire} .40 stop for slw ?
[09:53] {jfjf64} using .45
[09:53] {jfjf64} me
[09:53] {Threei} 09:48] {Threei} if stays under .40 for scalpers
[09:53] {Threei} [09:48] {Threei} .45 day traders
[09:55] {dino} vit stop -.25
[10:00] {Threei} so far, nice double top is forming
[10:00] {Threei} covering half
[10:00] {Threei} .15
[10:00] {Threei} stop to .31
[10:01] {jfjf64} ulysses
[10:01] {jfjf64} y
[10:01] {jfjf64} e
[10:01] {jfjf64} s
[10:01] {nemo} figured it out, huh?
[10:02] {jfjf64} thats why i opened my stop
[10:02] {Threei} *(US) MARCH HOUSE PRICE INDEX M/M: -0.3% V -0.5%E- Q1 House Price Purchase index: -2.5% v -1.2%e
[10:03] {nemo} Month over Month...whooopeee
[10:03] {Threei} target hit
[10:04] {Threei} out in full
[10:04] {Threei} .05
[10:04] {samire} Thanks Vad.....with u exits
[10:04] {Threei} precision with which .30 held on that spike is quite special
[10:04] {Threei} welcome
[10:04] {gregns} ty Vad, your comments helped me be patient on SLW
[10:04] {samire} now green for the day
[10:04] {Threei} :)
[10:04] {Threei} here is the thing samire
[10:05] {samire} i went with IB brokers
[10:05] {Threei} rules, when followed strictly,
[10:05] {samire} 50 cents per 100 shares
[10:05] {Threei} will not make you profitable on each trade, but will over a statistically valid number of trades
[10:06] {dino} hrl sm l .85
[10:06] {samire} what do you think of interactive brokers IB ?
[10:06] {samire} buy 1000 shares for 5 dollars
[10:06] {Threei} start breaking them in attempt to make each trade profitable, and you will be negatve overall
[10:06] {Threei} noting, I am not in the business of reviewing brokers
[10:07] {Threei} their executions are not the best, and that's my main criteria
[10:07] {dino} out aap .03, +.30
[10:08] {Threei} also, is't it the same we get from laser? with difference in ECN fees, which is negligible if you add liquidity on some of tardes
[10:08] {nemo} Mark Haines died
[10:09] {ese} who is Mark Haines
[10:09] {Threei} wow, really?
[10:09] {Threei} what happened?
[10:09] {Threei} one of CNBC guys
[10:09] {nemo} yeah, don't know but I just saw a film clip of him saying good by to Erin Burnett last week
[10:09] {nemo} he doesn't look good
[10:09] {Threei} squawk box
[10:09] {nemo} Erin also made the comment, "Because you
[10:09] {nemo} ll be changing what you eat soon"
[10:10] {nemo} I'm betting heart disease
[10:10] {dino} seriously, haines died?
[10:10] {nemo} yes
[10:11] {dino} bummer
[10:11] {nemo} he was a great curmudgeon
[10:11] {Threei} (US) Former US President Clinton: A brief US default may not be a calamity
[10:11] {Threei} wtf??
[10:12] {nemo} slw
[10:12] {Threei} (GR) Estonia PM: Must support Greece; problems originated from lagging economic growth; calls for Greece to change the economic structure
[10:12] {Threei} no sir, problem originated from overwhelming debt
[10:13] {nemo} slw .01
[10:13] {patience} in abx
[10:13] {samire} testing
[10:14] {nemo} tna .41
[10:14] {nemo} 1/2 .53
[10:14] {nemo} 1/2 slw .12
[10:15] {nemo} 1/4 .20 slw
[10:15] {Threei} nice one nemo
[10:15] {dino} gj
[10:15] {jfjf64} nice ulysses
[10:15] {gregns} nemo, me, slw .006 to .15 , tks for the heads up nemo
[10:15] {nemo} there are my two broken clock moments
[10:16] {nemo} 1/4 more tna .71
[10:16] {ese} L QTWW.14
[10:16] {nemo} stop to be tna slw .18
[10:17] {ese} what can I say...it's on the QT
[10:17] {samire} Vad....should we have the stop loss (only on the first 15 minutes when the market opens) because stocks are whipy at that time ???
[10:17] {nemo} took rest tna at the whole
[10:17] {samire} 20 cents
[10:17] {Threei} I don't understand the question
[10:17] {nemo} out slw .28 here, big offer .30
[10:17] {samire} stop loss should be 20 cents
[10:18] {samire} only the fisrt 15 minutes
[10:18] {Threei} stop loss is determined by chart
[10:18] {samire} of trading
[10:18] {Threei} not by formal amount of cents
[10:18] {nemo} by support resistance of chart
[10:18] {samire} but when market opens ...stocks move quickly
[10:18] {Threei} yes, more volatility
[10:18] {nemo} you got a .20 stop .10 below support, you could drop a looooooong time
[10:18] {samire} yes
[10:18] {Threei} you want to widen stop - decrease shares
[10:18] {samire} exactly
[10:19] {samire} ok
[10:19] {nemo} o.k. I feel better, SLW dropped below original stop
[10:19] {samire} because it had a nice bounce (SLW)
[10:19] {Threei} so what
[10:19] {Threei} you are making too wide conclusions from a single case
[10:19] {Threei} rinses happen
[10:20] {Threei} you want to tweak your whole approach with each trade that didn't work?
[10:20] {nemo} good hygiene
[10:20] {Threei} that would an atempt to get rid of losing trades at all
[10:20] {Threei} good luck with that
[10:20] {dino} just ask me, rinses everyday
[10:22] {Threei} Short Setup: CAT 102 break half lot
[10:22] {ese} I bin watchin dis un here der dino.......PSS let meknow what ya tink ehhh?
[10:22] {Threei} if stays under .15
[10:22] {Threei} invalidated
[10:23] {dino} volc spike
[10:24] {dino} downgraded to 15 pss
[10:24] {nemo} ttwo short?
[10:25] {Threei} nah
[10:25] {ese} ya.....like ahhhh i saw dat ehhh.......ya figur no chance at da bounce ehhhh
[10:26] {nemo} Oh no, THE GREAT WHITE NORTH started playing in my head
[10:26] {dino} already did, imo
[10:26] {RonS} ...thinkin school's out so ese reverting to cave man
[10:26] {nemo} frickin' ese
[10:26] {nemo} no Canuck
[10:26] {dino} re-test i like it
[10:26] {dino} hosers
[10:26] {ese} ye ehhhhh
[10:27] {Threei} - Fitch does not currently envisage any rating action on German banks as a direct result of their exposure to Greece. However the agency sees high potential contagion risks if there were any restructuring of Greek sovereign debt. In addition, most German banks have limited direct exposure to any risk relating to Portugal and Ireland.
[10:27] {ese} dey spek lick dat up dare in Cobble Hill around ear ehhhhh up nortta vad and I ehhhh
[10:28] {Threei} lol
[10:28] {RonS} irritating in print...
[10:29] {RonS} for me at least...
[10:29] {dino} bid sm l .70
[10:30] {dino} me too
[10:30] {ese} well all righty then........i'll just go back to normal
[10:30] {Threei} "whatever your normal is", to quote a commericla
[10:30] {ese} eggzactilly
[10:31] {dino} ptnr?
[10:32] {Threei} *DOE CRUDE: +615K V -1.5ME; GASOLINE: +3.8M V 0.0E; DISTILLATE: -2.05M V +500KE; UTILIZATION: 86.3% V 83.5%E
[10:33] {Threei} Partner Communications Co. Ltd. Reports Q1 Net income $73M, -24.6% y/y, R$509M, +11.6% y/y
[10:33] {Threei} that was in the middle of the night
[10:33] {dino} thx
[10:33] {Threei} who reports at 3:57 am?
[10:33] {dino} companies that miss badly
[10:34] {Threei} hour of the dead?
[10:34] {ese} how do you read that march house price index......-0.3 vs -0.5 E , houses are cheaper......index has gone up ...prices are increasing.....i'm confused on that one
[10:35] {nemo} it's month over month, it's useless
[10:35] {dino} agree.
[10:35] {dino} housing still sucks
[10:35] {Threei} yeah... noy much different from weekly oil inventories
[10:35] {ese} what is the implication with this one....cheaper houses?
[10:35] {Threei} means nothing
[10:35] {dino} too much inventory held by banks
[10:36] {ese} hmmmmmm
[10:36] {dino} congress has halted lots of foreclosures, just stretchiong out the problem over more years imo
[10:38] {dino} when i say lots ese, we are talking millions
[10:39] {dino} govt must get out of the way. they are making it much longer and worse
[10:39] {ese} ya i figured.......whole towns for sale near as i can figure
[10:43] {Threei} 85% of Americans View Their Marriages Positively
[10:43] {Threei} especially divorced?
[10:45] {Threei} Long Setup: SLW .30 break
[10:48] {davd} in
[10:49] {Threei} frikin UPP upticks
[10:50] {Threei} SLW holds decently though
[10:50] {nemo} UUP too
[10:50] {Threei} yeah, that
[10:50] {nemo} yeah, I got tna at .41 for a hedge
[10:50] {nemo} can I start drinking?
[10:51] {Threei} no, it's too late
[10:51] {nemo} 1/2 out tna .50
[10:51] {Threei} now you'l have to wait till 8 am tomorrow
[10:51] {Threei} you know what...
[10:51] {Threei} starts looking to me like milk trade candidate
[10:52] {ese} patience ...are your quotes cutting in and out on you....anyone else having this problem
[10:52] {Threei} no
[10:52] {nemo} my brain is though
[10:53] {ese} hmmm back on again
[10:53] {patience} no, but i am not using your platforms
[10:54] {patience} i trade tsx mainly so i use td active trader plus and their global platform so i can trade overseas
[10:55] {nemo} might add more tna if breaks .50
[10:55] {nemo} yep
[10:55] {nemo} back to full lot
[10:56] {ese} patience does the tsx own that platform.....
[10:56] {ese} or another company
[10:56] {ese} laser dave
[10:56] {patience} yup, they bought out ameritrade i think it was few years ago
[10:56] {nemo} gonna' scalp that puppy
[10:58] {Threei} here is my personal plan for this trade
[10:58] {Threei} stop is obvious, under .20
[10:59] {Threei} first partial is around day high, 45
[10:59] {Threei} second around .60
[10:59] {Threei} third is to be determined yet, but the general idea is to let it run
[10:59] {nemo} out 2nd lot .56
[11:00] {davd} amzn close to support
[11:01] {nemo} Vad?
[11:01] {Threei} ?
[11:01] {nemo} could you explain why you see this as a "milk" trade?
[11:02] {davd} i know - because slv going to it 50dma
[11:02] {RonS} 'cause he expects it will "mooooo ve"
[11:02] {Threei} something unusual about how it trades right now...
[11:03] {Threei} holding well while UUP upticks... overall, each little downtck is getting bought fewrociously...
[11:03] {nemo} thinking about adding above .40
[11:03] {Threei} like it prepares a big surprise for those who got too comfortable shorting silver over last few weeks
[11:04] {Threei} 1:1
[11:04] {nemo} o.k. I'm a glutton I added
[11:04] {nemo} I'm also out of tna at .39
[11:04] {ese} stopped qtww .94-.20 daaaaaaaa
[11:04] {Threei} ok
[11:05] {Threei} first tagert is here
[11:05] {Threei} half out
[11:06] {Threei} new high
[11:06] {RonS} out 1/2 slw .48 from .28
[11:06] {nemo} taking 2nd lot off .49, still got 1st
[11:06] {Threei} :)
[11:06] {Threei} stop to .28
[11:06] {samire} thanks Vad
[11:07] {samire} money...money
[11:07] {samire} raining
[11:07] {nemo} got double top at .40 level
[11:07] {Threei} lol, welcome
[11:07] {Threei} get a bucket and umbrella
[11:07] {samire} raining money in California
[11:07] {samire} do u want some ?
[11:08] {Threei} always
[11:08] {samire} DHL
[11:08] {Threei} you sharing?
[11:09] {Threei} will trail stop again after .50 break
[11:09] {davd} out 1/2 slw
[11:09] {nemo} new support just became resistance
[11:09] {nemo} other way around
[11:10] {patience} Mark Haines of cnbc passed away
[11:10] {patience} used to watch him
[11:10] {nemo} where you been patience?
[11:11] {patience} old news?
[11:13] {Threei} stop to .35
[11:13] {Threei} and second partial is coming
[11:13] {davd} yes, hes been dead all morning
[11:13] {Threei} over 1:2
[11:13] {RonS} lol
[11:14] {Threei} lol
[11:14] {Threei} nasty but lol
[11:14] {ese} got cut off again
[11:14] {Threei} out next partial .57
[11:14] {davd} what do you guys listen too during the day (business news, that is...)
[11:15] {dino} pss lod
[11:15] {dino} davd, i listen to music, no tv
[11:15] {Threei} my newsfeed has voice datas
[11:15] {Threei} data
[11:15] {Threei} a few seconds faster than text
[11:16] {Threei} if I really want to listen to something business related, that would be it
[11:16] {patience} i listen to bnn, don't watch the screen much though
[11:17] {Threei} stop is still .35 for the last portion
[11:17] {davd} voice on newsfeed?
[11:17] {Threei} yes
[11:18] {Threei} for those who needs news absolutely the first and fastest
[11:18] {davd} so, what;s it called? :/
[11:19] {Threei} my news?
[11:19] {Threei} come on, it has been on the website for only about last three years or so
[11:19] {Threei} go to homepage, scroll down
[11:19] {dino} like pulling teeth
[11:19] {nemo} oh...we supposed to look at the website?
[11:19] {davd} i was too busy reading tao
[11:19] {Threei} oh
[11:19] {Threei} forgiven then
[11:20] {Threei} but still,,
[11:20] {Threei} go to homepage, scroll down to the banner saying
[11:20] {Threei} Trade the news
[11:20] {davd} ii
[11:20] {Threei} take free trial
[11:21] {Threei} if you like'em, before signing up give'em a call and say "there should be a discount for those who came from realitytrader"
[11:22] {Threei} don't name the number though...
[11:22] {Threei} I don't remember it, and there is a chance they give you more than what you ask if you leave it an open question :)
[11:22] {Threei} SLW baby
[11:22] {RonS} out last half slw .66 from .28 thanks 3i
[11:22] {Threei} welcomne sir
[11:23] {Threei} 1:5
[11:23] {Threei} 1:4, sorry
[11:23] {Threei} out half of the remainder
[11:24] {Threei} unusual partialing scheme for me but really want to squeeze every last drop out of it
[11:24] {davd} slv above 50dma
[11:24] {davd} at
[11:24] {Threei} and this sharp spike makes me take profit
[11:24] {Threei} stop to .49
[11:25] {dino} tsla spike
[11:26] {Threei} had news 13 min ago
[11:26] {Threei} insider buying
[11:26] {Threei} by CEO
[11:28] {Threei} stop to .55
[11:29] {dino} sm l fmcn .09
[11:30] {Threei} ok... target for the last piece starts taking shape
[11:30] {jfjf64} 3i nice nice
[11:30] {Threei} .85 - .95 zone
[11:34] {jfjf64} stop .65
[11:35] {Threei} this is a must to read guys:
[11:35] {Threei} http://www.businessinsider.com/greek-restructuing-debt-2011-5?op=1
[11:37] {RonS} dangit dino wlk
[11:39] {Threei} stop to .65
[11:39] {ese} might have one here expr.....
[11:39] {Threei} and decisive break for the last move
[11:40] {ese} dn 2 bills on a decent Q
[11:40] {Threei} target hit
[11:40] {Threei} out .91
[11:40] {Threei} +.60
[11:40] {RonS} wtg
[11:40] {Threei} milk trade in all its glory
[11:41] {Threei} the hardest thing about milk trades?
[11:41] {Threei} read all about it in Catch of the Day
[11:42] {dino} gj
[11:42] {davd} i think selling slv back to 50dma soon imo
[11:47] {davd} out slw in full .95
[11:47] {Threei} :)
[11:48] {Threei} is it fun or what
[11:48] {Threei} samire, how's that money rain doing
[11:48] {davd} yes, its the mov avg with the commodities....
[11:49] {davd} this is a dt for slv over the past 2 wks (since it plummeted). thoughts 3i?
[11:50] {dino} fmcn stop -.22
[11:52] {Threei} hmmm
[11:52] {Threei} sorry, no thoughts really
[11:53] {nemo} http://www.youtube.com/watch?v=GWciMISV9A8&feature=related
[11:53] {jfjf64} and to think slw rinsed us out !!!!
[11:53] {jfjf64} ty slw
[11:53] {Threei} it just borrowed 10 cents from us
[11:54] {Threei} to return with interest at the first chance
[11:54] {Threei} and what interest it was
[11:54] {Threei} 600%
[11:54] {jfjf64} yes yes
[11:54] {jfjf64} i tk back that rggg
[11:54] {Threei} nah, mine stays
[11:54] {Threei} I still don't like to be rinsed
[11:55] {jfjf64} what bout ya ulysses
[12:01] {nemo} what about me?
[12:02] {dino} expr lod
[12:02] {jfjf64} im goingg to lunch
[12:02] {RonS} bid volume pathetic
[12:02] {dino} yeah
[12:02] {Threei} mail me a lobster, jf
[12:03] {jfjf64} cod dtop
[12:03] {jfjf64} cog
[12:03] {jfjf64} ?
[12:03] {Threei} no, no cod... lobster
[12:03] {ese} L sify .79
[12:04] {dino} hrl to .15
[12:06] {RonS} out hrl .20 from .85 +.35 thanks dino
[12:06] {dino} gj, yw
[12:07] {dino} slow day for me
[12:07] {jfjf64} gj rs
[12:07] {dino} hrl stop .15, +.30
[12:08] {jfjf64} .65 short cog
[12:09] {dino} rinsed fmcn, sheesh
[12:12] {RonS} samire needs to fix that for ya dino
[12:12] {RonS} :)
[12:13] {dino} someone needs to fix it
[12:15] {dino} expr gap around 19.40
[12:19] {ese} ya
[12:20] {davd} big drop in gld
[12:25] {nemo} slw
[12:25] {nemo} .51
[12:26] {nemo} 1/2 .60
[12:26] {nemo} lunch scalps
[12:27] {Threei} nice
[12:27] {Threei} easy money
[12:27] {Threei} low risk
[12:27] {nemo} yeah, vwap bounce at .46
[12:27] {nemo} showed db
[12:28] {nemo} got support at early high
[12:34] {nemo} 1/4 more .74
[12:35] {dino} gj
[12:37] {nemo} o.k. greed, bird in hand?
[12:37] {dino} lps drop
[12:37] {nemo} out .87
[12:38] {nemo} Just call me "wuss"
[12:38] {gregns} great job nemo
[12:38] {nemo} ty
[12:38] {nemo} almost forgot I said I was taking a lunchtime scalp
[12:39] {Threei} hey, beling a wuss in the markets is not necessary a bad thing
[12:39] {Threei} a lot of dead lions out there
[12:39] {Threei} traders' cemetery has this tumbstone almost as a staple: He Was a Brave Trader
[12:39] {nemo} True...lunchtime is lunchtime, probabilities favor scalping
[12:40] {Threei} it's like with pilots, you know...
[12:40] {Threei} There are old pilots. There are bold pilots. There are no old bold pilots
[12:40] {nemo} can only crash once
[12:41] {dino} nemo, whatever works
[12:41] {nemo} mmmhhhh....think my nephew will be pissed if I sacrifice his rabbit to the trading gods
[12:41] {dino} ya think
[12:42] {nemo} funny...supposed to give them wood to kinda' keep there teeth in check
[12:42] {nemo} nah...likes to crawl up into my box spring and naw on the steel coils
[12:42] {nemo} fun at 3 in the morning
[12:42] {RonS} hasenpfeffer
[12:42] {nemo} genau
[12:43] {nemo} spy about to defecate the sleeping apparatus
[12:47] {dino} lps sm l .50
[12:52] {dino} stop -.25
[12:56] {nemo} trying some tna .85
[12:56] {nemo} .95
[12:57] {dino} wtf lps rinsed
[12:57] {nemo} 1/2 .06
[12:58] {nemo} stop .94
[12:58] {dino} reload sm l lps .50
[12:58] {nemo} 1/4 more .35
[12:59] {nemo} stop...eh...not sure
[12:59] {nemo} must be my birthday today or soemthin
[12:59] {nemo} eh, .28
[13:02] {nemo} held on by a...hair
[13:02] {dino} rabbit hair
[13:02] {nemo} whatever works for ya
[13:03] {nemo} cit
[13:04] {nemo} boy, caught the bottom of the bull falg on that
[13:04] {nemo} flag
[13:07] {dino} lps to .85
[13:07] {dino} out slpi .81, +.31
[13:07] {dino} slip
[13:12] {nemo} needless to say out of tna
[13:19] {dino} wbc spike
[13:21] {RonS} this on cnbc?...Bob Howard of kkr likes $WBC
[13:22] {Threei} did he use facebook "like" button?
[13:22] {dino} ty
[13:22] {dino} smiley face
[13:22] {RonS} lol
[13:23] {RonS} reminds me of the freakin y2k dotcom days...
[13:24] {dino} well if it hits .49 i am short
[13:25] {dino} sm s .30
[13:28] {dino} hsni spike
[13:29] {dino} cov wbc .00, +.30
[13:30] {RonS} RT @StockTwits: Our boy @ReformedBroker is Live Tweeting from the Ira Sohn Conference: http://stk.ly/mIqHsD$WEC $CIT $HSNI
[13:31] {Threei} oh, about tweeting nation
[13:31] {Threei} yesterday I almost caused untimely death of a salesman
[13:32] {nemo} Was his name Willie?
[13:32] {Threei} salesman in a electornic shop that is... poor guy, he was not ready for this
[13:32] {Threei} he saw my cell phone
[13:32] {Threei} his jaw dropped
[13:32] {Threei} he asked what that was
[13:32] {RonS} the brick
[13:32] {Threei} I said a phone
[13:32] {Threei} no.. small
[13:33] {Threei} but it's a phone... not a device with touchscreen and zillion features
[13:33] {Threei} just a phone
[13:33] {dino} thought the hampster wheel threw him off
[13:33] {Threei} he said no, they are not like this, this must be something else
[13:33] {Threei} I opened it (yes, it's a flip phone),
[13:33] {dino} bid ron
[13:34] {Threei} and showed him keypad
[13:34] {Threei} and mike and cpeaker
[13:34] {Threei} speaker
[13:34] {Threei} so he grasped the concept that yes, it was a phone,
[13:34] {RonS} latest tweet: Bob Howard thinks $HSNI could see anywhere between 40-95% upside depending upon m&a, leveraging, revaluation
[13:34] {Threei} but the idea that something could use device obviously made in ancient Egypt times
[13:34] {Threei} from when pyramids were half-built
[13:35] {dino} is this where these spikes are coming from, tweets?
[13:35] {Threei} sent him to deep blackout
[13:35] {RonS} yep
[13:35] {dino} wow ron, interesting times. i guess we just short buck bounces then
[13:36] {RonS} http://tinyurl.com/3bzmkwc
[13:36] {dino} bid to .99
[13:36] {dino} well if hsni gets to 32.50 i will be shorting it
[13:37] {RonS} hsni 3.6 mil sh short
[13:38] {dino} hmm geting there
[13:39] {RonS} RT @ReformedBroker: Liberty Media owns 30% stake in $HSNI - and ALL of QVC, a merger would be a no-brainer
[13:39] {dino} gap fill
[13:39] {dino} 33.30 another gap
[13:43] {nemo} MOS
[13:44] {Threei} photo of my phone, circa 2005
[13:44] {Threei} http://retrocell.ca/index.php?main_page=product_info&cPath=1&products_id=74&zenid=635c85ac315a99bcb07e01f28766d6bd
[13:45] {RonS} ya, my wife still has one of those on a prepaid...
[13:48] {dino} hsni sm s .60, bstop .80
[13:50] {RonS} guys...this is serious...hsni reminded me of the only product i ever purchase off tv...it is a terrific canadian made product (at least was): http://tinyurl.com/3v5v6hp
[13:51] {RonS} had back probs at the time...had it 15 years
[13:53] {dino} stopped -.25
[13:53] {Threei} god.. so werid-looking, it must be canadian
[13:53] {dino} wants the gap
[13:54] {RonS} people stop all the time to ask me about it...works like charm
[13:54] {Threei} so's my phone... but people stop nonetheless, jaw on the floor...
[13:57] {dino} bid to .04 slow motion stock
[14:00] {dino} out bid +.34
[14:03] {Threei} nice
[14:04] {Threei} lol, gotta share this... buddy photographer sent it to me
[14:04] {Threei} http://www.youtube.com/watch?v=awq90APEVgw&feature=player_embedded
[14:06] {dino} hsni sm s .80
[14:07] {nemo} oh jeez
[14:17] {dino} expr sm l .05
[14:26] {Threei} e-mails I get...
[14:26] {Threei} make sure you sit tight
[14:26] {Threei} Dear Vad,
[14:26] {Threei} I started trading two weeks ago. It's hard. I tried 5 systems and none of them worked. I am going to buy 10-15 systems each month and return them before refund date. Can you point out the best systems to try so I don't waste time? How do I buy your system?
[14:28] {dino} lol
[14:28] {RonS} shorter version: i am an idiot and acting as such
[14:29] {dino} he gets 2 weeks free right
[14:29] {nemo} OMFG!
[14:29] {Threei} Dear ...,
[14:29] {Threei} thanks for warning, I'll make sure not to sell you anything.
[14:34] {Threei} thank that'sd all? I had real jem a few weeks ago, let me find it
[14:35] {Threei} here it is
[14:36] {Threei} this one, make sure you both, sit tight and hold onto something with really really strong grasp
[14:36] {Threei} I read you trading log. I don't understand why you take trades you take. Pls explain as briefly as possible. Don't waste my time with long descriptions, make it three sentences or less. If you can't, you don't know what you are doing. Bye.
[14:37] {nemo} Wow, I have a two word answer for him
[14:37] {Threei} two?
[14:37] {nemo} Nah, make it three
[14:37] {Threei} shortest I could do was three
[14:37] {Threei} there :)
[14:37] {nemo} I think we came up with the same one
[14:37] {Threei} suspect so
[14:38] {RonS} two here
[14:38] {nemo} First word start with G, last word end with F
[14:38] {Threei} it uses facebook language
[14:38] {Threei} go friend yourself
[14:38] {nemo} yeah
[14:39] {Threei} I haven't answered though... entertaiment factor is there, so I am thankful
[14:39] {nemo} reminds me, fwb coming over tonight
[14:39] {dino} i guess i should stop writing you
[14:39] {Threei} dino, and please ask magoo to stop it
[14:39] {nemo} would you like me to answer your fan mail
[14:40] {dino} no, i can imagine
[14:40] {Threei} hehe
[14:40] {Threei} I need to start putting these gems to separate folder... scared to think how many of those I deleted over years
[14:47] {Threei} let's do the same thing we did yesterday when went into profit preservation mode
[14:47] {Threei} cut size to half lot
[14:47] {Threei} trading conservatively
[14:47] {Threei} Long Setup: RIMM .20 break
[14:51] {rizvisy1} in at .20
[14:51] {davd} in .2
[14:55] {nemo} Wow, Red Sox winning 14-0 against Indians...scored 7 runs in the 1st inning...wtf
[15:01] {Threei} (US) Senator Chambliss: Gang of Six is close to an agreement on a deficit reduction plan
[15:01] {Threei} ***Reminder: On May 17th Senator Coburn (R-OK) pulled out of negotiations with the 'gang of six' saying he is not optimistic the group could reach an agreement on budget
[15:03] {rizvisy1} Vad, stops on Rimm?
[15:03] {Threei} standard
[15:03] {Threei} under .10
[15:04] {rizvisy1} 1:1 at .30 right
[15:04] {Threei} yes... but considering this lunch time lame trading, may have to modify it a bit
[15:04] {Threei} will see
[15:05] {Threei} so far so good
[15:05] {samire} go money man
[15:05] {dino} hsni stop -.21
[15:06] {Threei} 1;1
[15:06] {Threei} 2/3 out
[15:06] {Threei} stop to .19
[15:10] {davd} out 1/2
[15:16] {dino} expr to .25
[15:18] {dino} out +.20
[15:19] {davd} keep stop on rimm at .19?
[15:20] {Threei} oh, just take the damn priofit
[15:20] {Threei} it's lunch
[15:21] {rizvisy1} better idea stuck at .37 around
[15:21] {Threei} well
[15:21] {Threei} nearing dinner
[15:21] {Threei} lol
[15:21] {rizvisy1} it is afternoon siesta time rather
[15:23] {Threei} which is not dissimilar to coma
[15:23] {Threei} self-induced, too
[15:23] {rizvisy1} lol, almost same both have extreme eyelids opening syndrome
[15:24] {Threei} huh... I don't have that syndrome
[15:25] {Threei} I just don't open them
[15:26] {rizvisy1} after having lobsters n Cod you mean...lol
[15:26] {rizvisy1} it is obvious
[15:26] {Threei} no, I don't open them even when all I have is modest steak
[15:27] {Threei} I just don't believe in trading with my eyes open
[15:27] {rizvisy1} so you trade with inner eyes..
[15:28] {rizvisy1} I have yet to find those
[15:31] {jfjf64} eyes open
[15:31] {jfjf64} any i he cd get
[15:31] {jfjf64} lol
[15:31] {jfjf64} tsla wants 30.00
[15:32] {Threei} but does 30 want TSLA?
[15:33] {jfjf64} 29.00
[15:33] {jfjf64} dont mind me
[15:33] {Threei} how very zen of you
[15:33] {jfjf64} no sam adams
[15:33] {jfjf64} lol
[15:34] {dino} calling it a day, thx all
[15:34] {jfjf64} enjoy dino
[15:34] {dino} thx
[15:34] {jfjf64} golf
[15:35] {jfjf64} weather great here
[15:50] {Threei} Ok guys, thank you all
[15:50] {Threei} have a great evening, see you tomorrow
[15:50] {rizvisy1} ty
[15:50] {Threei} don't forget to look at Catch of the Day
[15:50] {rizvisy1} bye
[15:51] {rizvisy1} will do thnx
[08:04] {davd} hi all
[08:30] {Threei} *(US) APR DURABLE GOODS ORDERS: -3.6% V -2.5%E; DURABLES EX TRANSPORTATION: -1.5% V 0.5%E
[08:31] {Threei} looks healthy
[08:39] {nemo} let me guess...slw short
[08:40] {Threei} hey... it was long yesterday
[08:40] {nemo} That was then, this is now...stop living in the past
[08:41] {Threei} ok... I'll try
[08:41] {nemo} no try, either do or don't do
[08:41] {Threei} ok... I'll try not to try
[08:41] {nemo} so, it's a definite maybe?
[08:42] {Threei} probably
[08:42] {nemo} o.k. Hamlet
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[09:04] {patience} gm guys
[09:04] {Threei} morning patience
[09:06] {ese} mornin
[09:06] {nemo} hello
[09:07] {Threei} hi ese
[09:09] {ese} nemo...vad...
[09:15] {Threei} (GR) EU's Damanaki: Membership for Greece in the EMU is at risk - press interview
[09:15] {Threei} where is Ron??
[09:15] {Threei} ahha, here he is
[09:16] {RonS} gm...like i said...give 'em the boot
[09:17] {samire} gm
[09:17] {Threei} (GR) ECB's Stark: Greece should push to achieve a primary surplus, debt cut is not part of that solution; reaffirms opposition to a Greece restructuring, as it would cause a run on Greek banks
[09:17] {samire} ford
[09:17] {Threei} ron, samire :)
[09:18] {Threei} Greek tragedy seems to accelerate
[09:19] {Threei} - Greece needs to agree to tougher measures or return to the drachma
[09:22] {rizvisy1} gm everyone
[09:22] {Threei} riz :)
[09:23] {jfjf64} mornin
[09:23] {Threei} jf :)
[09:26] {nemo} AIG not shortable
[09:27] {dino} what is the point of this, jpm raises avgo to buy, target 31. its at 32
[09:28] {dino} in any case, report good. gap above 34.30s
[09:28] {Threei} hehe
[09:28] {Threei} value added
[09:28] {dino} yeah, thanks alot
[09:29] {jfjf64} slw thoughts
[09:29] {samire} ready
[09:30] {Threei} long I think, jf
[09:31] {Threei} just want clean setup
[09:31] {jfjf64} always clean
[09:33] {Threei} ok
[09:33] {Threei} Long Setup: SLW .10 break
[09:33] {Threei} if holding 36
[09:34] {Threei} 36 break now
[09:34] {Threei} if holding .90
[09:34] {jfjf64} in
[09:35] {Threei} no go
[09:36] {samire} it went to 36.01
[09:36] {samire} i took a loss
[09:36] {Threei} yes
[09:36] {Threei} rinse...
[09:36] {Threei} grrr
[09:37] {jfjf64} rrrg
[09:37] {dino} rgrr
[09:37] {nemo} rrgr
[09:38] {jfjf64} ool
[09:38] {nemo} cmon' patience
[09:38] {nemo} grow up jf
[09:38] {jfjf64} y
[09:38] {nemo} spit your coffee into your keyboard?
[09:39] {Threei} great. goes right into 1:3 which was my target
[09:39] {dino} aap sm l .73 thinny
[09:39] {Threei} oh well
[09:40] {jfjf64} all samire fault
[09:40] {Threei} not nemos??
[09:40] {nemo} can't blame it on him, he's here...blame it on LES
[09:41] {samire} that was a loss for me...what about every body ?
[09:41] {jfjf64} whos nemo
[09:41] {jfjf64} oh boyyyyyyy
[09:41] {Threei} samire, it triggered, then stopped
[09:41] {Threei} it was a stop for anyone who followed the rules
[09:41] {samire} thanx
[09:41] {nemo} you realize, jf, that comment makes more sense than is obvious
[09:41] {dino} lol
[09:41] {jfjf64} ohh boyyyyyyyyyy
[09:42] {jfjf64} whos nemo
[09:42] {jfjf64} ??
[09:42] {nemo} yep
[09:42] {jfjf64} lol
[09:42] {nemo} you know what "nemo" means in Greek?
[09:42] {jfjf64} lets get serious 3i
[09:42] {Threei} Short Setup: SLW .30 break
[09:43] {Threei} invalidated
[09:44] {jfjf64} fcx
[09:44] {jfjf64} .59
[09:44] {jfjf64} break
[09:44] {jfjf64} imo
[09:44] {jfjf64} nope
[09:45] {jfjf64} nemo greek
[09:45] {jfjf64} ?
[09:45] {nemo} yep
[09:46] {nemo} Tales of brave Ulysses
[09:46] {jfjf64} ohh boyyyyyyyyyy
[09:47] {Threei} same setup again
[09:47] {Threei} Short Setup: SLW .30 break
[09:48] {Threei} if stays under .40 for scalpers
[09:48] {Threei} .45 day traders
[09:48] {dino} vit pulp today
[09:52] {Threei} target is about 36.05, three partials
[09:52] {Threei} or two
[09:52] {jfjf64} comon great ulysses
[09:52] {jfjf64} help
[09:53] {Threei} UUP uptick
[09:53] {dino} vit sm l .24
[09:53] {samire} .40 stop for slw ?
[09:53] {jfjf64} using .45
[09:53] {jfjf64} me
[09:53] {Threei} 09:48] {Threei} if stays under .40 for scalpers
[09:53] {Threei} [09:48] {Threei} .45 day traders
[09:55] {dino} vit stop -.25
[10:00] {Threei} so far, nice double top is forming
[10:00] {Threei} covering half
[10:00] {Threei} .15
[10:00] {Threei} stop to .31
[10:01] {jfjf64} ulysses
[10:01] {jfjf64} y
[10:01] {jfjf64} e
[10:01] {jfjf64} s
[10:01] {nemo} figured it out, huh?
[10:02] {jfjf64} thats why i opened my stop
[10:02] {Threei} *(US) MARCH HOUSE PRICE INDEX M/M: -0.3% V -0.5%E- Q1 House Price Purchase index: -2.5% v -1.2%e
[10:03] {nemo} Month over Month...whooopeee
[10:03] {Threei} target hit
[10:04] {Threei} out in full
[10:04] {Threei} .05
[10:04] {samire} Thanks Vad.....with u exits
[10:04] {Threei} precision with which .30 held on that spike is quite special
[10:04] {Threei} welcome
[10:04] {gregns} ty Vad, your comments helped me be patient on SLW
[10:04] {samire} now green for the day
[10:04] {Threei} :)
[10:04] {Threei} here is the thing samire
[10:05] {samire} i went with IB brokers
[10:05] {Threei} rules, when followed strictly,
[10:05] {samire} 50 cents per 100 shares
[10:05] {Threei} will not make you profitable on each trade, but will over a statistically valid number of trades
[10:06] {dino} hrl sm l .85
[10:06] {samire} what do you think of interactive brokers IB ?
[10:06] {samire} buy 1000 shares for 5 dollars
[10:06] {Threei} start breaking them in attempt to make each trade profitable, and you will be negatve overall
[10:06] {Threei} noting, I am not in the business of reviewing brokers
[10:07] {Threei} their executions are not the best, and that's my main criteria
[10:07] {dino} out aap .03, +.30
[10:08] {Threei} also, is't it the same we get from laser? with difference in ECN fees, which is negligible if you add liquidity on some of tardes
[10:08] {nemo} Mark Haines died
[10:09] {ese} who is Mark Haines
[10:09] {Threei} wow, really?
[10:09] {Threei} what happened?
[10:09] {Threei} one of CNBC guys
[10:09] {nemo} yeah, don't know but I just saw a film clip of him saying good by to Erin Burnett last week
[10:09] {nemo} he doesn't look good
[10:09] {Threei} squawk box
[10:09] {nemo} Erin also made the comment, "Because you
[10:09] {nemo} ll be changing what you eat soon"
[10:10] {nemo} I'm betting heart disease
[10:10] {dino} seriously, haines died?
[10:10] {nemo} yes
[10:11] {dino} bummer
[10:11] {nemo} he was a great curmudgeon
[10:11] {Threei} (US) Former US President Clinton: A brief US default may not be a calamity
[10:11] {Threei} wtf??
[10:12] {nemo} slw
[10:12] {Threei} (GR) Estonia PM: Must support Greece; problems originated from lagging economic growth; calls for Greece to change the economic structure
[10:12] {Threei} no sir, problem originated from overwhelming debt
[10:13] {nemo} slw .01
[10:13] {patience} in abx
[10:13] {samire} testing
[10:14] {nemo} tna .41
[10:14] {nemo} 1/2 .53
[10:14] {nemo} 1/2 slw .12
[10:15] {nemo} 1/4 .20 slw
[10:15] {Threei} nice one nemo
[10:15] {dino} gj
[10:15] {jfjf64} nice ulysses
[10:15] {gregns} nemo, me, slw .006 to .15 , tks for the heads up nemo
[10:15] {nemo} there are my two broken clock moments
[10:16] {nemo} 1/4 more tna .71
[10:16] {ese} L QTWW.14
[10:16] {nemo} stop to be tna slw .18
[10:17] {ese} what can I say...it's on the QT
[10:17] {samire} Vad....should we have the stop loss (only on the first 15 minutes when the market opens) because stocks are whipy at that time ???
[10:17] {nemo} took rest tna at the whole
[10:17] {samire} 20 cents
[10:17] {Threei} I don't understand the question
[10:17] {nemo} out slw .28 here, big offer .30
[10:17] {samire} stop loss should be 20 cents
[10:18] {samire} only the fisrt 15 minutes
[10:18] {Threei} stop loss is determined by chart
[10:18] {samire} of trading
[10:18] {Threei} not by formal amount of cents
[10:18] {nemo} by support resistance of chart
[10:18] {samire} but when market opens ...stocks move quickly
[10:18] {Threei} yes, more volatility
[10:18] {nemo} you got a .20 stop .10 below support, you could drop a looooooong time
[10:18] {samire} yes
[10:18] {Threei} you want to widen stop - decrease shares
[10:18] {samire} exactly
[10:19] {samire} ok
[10:19] {nemo} o.k. I feel better, SLW dropped below original stop
[10:19] {samire} because it had a nice bounce (SLW)
[10:19] {Threei} so what
[10:19] {Threei} you are making too wide conclusions from a single case
[10:19] {Threei} rinses happen
[10:20] {Threei} you want to tweak your whole approach with each trade that didn't work?
[10:20] {nemo} good hygiene
[10:20] {Threei} that would an atempt to get rid of losing trades at all
[10:20] {Threei} good luck with that
[10:20] {dino} just ask me, rinses everyday
[10:22] {Threei} Short Setup: CAT 102 break half lot
[10:22] {ese} I bin watchin dis un here der dino.......PSS let meknow what ya tink ehhh?
[10:22] {Threei} if stays under .15
[10:22] {Threei} invalidated
[10:23] {dino} volc spike
[10:24] {dino} downgraded to 15 pss
[10:24] {nemo} ttwo short?
[10:25] {Threei} nah
[10:25] {ese} ya.....like ahhhh i saw dat ehhh.......ya figur no chance at da bounce ehhhh
[10:26] {nemo} Oh no, THE GREAT WHITE NORTH started playing in my head
[10:26] {dino} already did, imo
[10:26] {RonS} ...thinkin school's out so ese reverting to cave man
[10:26] {nemo} frickin' ese
[10:26] {nemo} no Canuck
[10:26] {dino} re-test i like it
[10:26] {dino} hosers
[10:26] {ese} ye ehhhhh
[10:27] {Threei} - Fitch does not currently envisage any rating action on German banks as a direct result of their exposure to Greece. However the agency sees high potential contagion risks if there were any restructuring of Greek sovereign debt. In addition, most German banks have limited direct exposure to any risk relating to Portugal and Ireland.
[10:27] {ese} dey spek lick dat up dare in Cobble Hill around ear ehhhhh up nortta vad and I ehhhh
[10:28] {Threei} lol
[10:28] {RonS} irritating in print...
[10:29] {RonS} for me at least...
[10:29] {dino} bid sm l .70
[10:30] {dino} me too
[10:30] {ese} well all righty then........i'll just go back to normal
[10:30] {Threei} "whatever your normal is", to quote a commericla
[10:30] {ese} eggzactilly
[10:31] {dino} ptnr?
[10:32] {Threei} *DOE CRUDE: +615K V -1.5ME; GASOLINE: +3.8M V 0.0E; DISTILLATE: -2.05M V +500KE; UTILIZATION: 86.3% V 83.5%E
[10:33] {Threei} Partner Communications Co. Ltd. Reports Q1 Net income $73M, -24.6% y/y, R$509M, +11.6% y/y
[10:33] {Threei} that was in the middle of the night
[10:33] {dino} thx
[10:33] {Threei} who reports at 3:57 am?
[10:33] {dino} companies that miss badly
[10:34] {Threei} hour of the dead?
[10:34] {ese} how do you read that march house price index......-0.3 vs -0.5 E , houses are cheaper......index has gone up ...prices are increasing.....i'm confused on that one
[10:35] {nemo} it's month over month, it's useless
[10:35] {dino} agree.
[10:35] {dino} housing still sucks
[10:35] {Threei} yeah... noy much different from weekly oil inventories
[10:35] {ese} what is the implication with this one....cheaper houses?
[10:35] {Threei} means nothing
[10:35] {dino} too much inventory held by banks
[10:36] {ese} hmmmmmm
[10:36] {dino} congress has halted lots of foreclosures, just stretchiong out the problem over more years imo
[10:38] {dino} when i say lots ese, we are talking millions
[10:39] {dino} govt must get out of the way. they are making it much longer and worse
[10:39] {ese} ya i figured.......whole towns for sale near as i can figure
[10:43] {Threei} 85% of Americans View Their Marriages Positively
[10:43] {Threei} especially divorced?
[10:45] {Threei} Long Setup: SLW .30 break
[10:48] {davd} in
[10:49] {Threei} frikin UPP upticks
[10:50] {Threei} SLW holds decently though
[10:50] {nemo} UUP too
[10:50] {Threei} yeah, that
[10:50] {nemo} yeah, I got tna at .41 for a hedge
[10:50] {nemo} can I start drinking?
[10:51] {Threei} no, it's too late
[10:51] {nemo} 1/2 out tna .50
[10:51] {Threei} now you'l have to wait till 8 am tomorrow
[10:51] {Threei} you know what...
[10:51] {Threei} starts looking to me like milk trade candidate
[10:52] {ese} patience ...are your quotes cutting in and out on you....anyone else having this problem
[10:52] {Threei} no
[10:52] {nemo} my brain is though
[10:53] {ese} hmmm back on again
[10:53] {patience} no, but i am not using your platforms
[10:54] {patience} i trade tsx mainly so i use td active trader plus and their global platform so i can trade overseas
[10:55] {nemo} might add more tna if breaks .50
[10:55] {nemo} yep
[10:55] {nemo} back to full lot
[10:56] {ese} patience does the tsx own that platform.....
[10:56] {ese} or another company
[10:56] {ese} laser dave
[10:56] {patience} yup, they bought out ameritrade i think it was few years ago
[10:56] {nemo} gonna' scalp that puppy
[10:58] {Threei} here is my personal plan for this trade
[10:58] {Threei} stop is obvious, under .20
[10:59] {Threei} first partial is around day high, 45
[10:59] {Threei} second around .60
[10:59] {Threei} third is to be determined yet, but the general idea is to let it run
[10:59] {nemo} out 2nd lot .56
[11:00] {davd} amzn close to support
[11:01] {nemo} Vad?
[11:01] {Threei} ?
[11:01] {nemo} could you explain why you see this as a "milk" trade?
[11:02] {davd} i know - because slv going to it 50dma
[11:02] {RonS} 'cause he expects it will "mooooo ve"
[11:02] {Threei} something unusual about how it trades right now...
[11:03] {Threei} holding well while UUP upticks... overall, each little downtck is getting bought fewrociously...
[11:03] {nemo} thinking about adding above .40
[11:03] {Threei} like it prepares a big surprise for those who got too comfortable shorting silver over last few weeks
[11:04] {Threei} 1:1
[11:04] {nemo} o.k. I'm a glutton I added
[11:04] {nemo} I'm also out of tna at .39
[11:04] {ese} stopped qtww .94-.20 daaaaaaaa
[11:04] {Threei} ok
[11:05] {Threei} first tagert is here
[11:05] {Threei} half out
[11:06] {Threei} new high
[11:06] {RonS} out 1/2 slw .48 from .28
[11:06] {nemo} taking 2nd lot off .49, still got 1st
[11:06] {Threei} :)
[11:06] {Threei} stop to .28
[11:06] {samire} thanks Vad
[11:07] {samire} money...money
[11:07] {samire} raining
[11:07] {nemo} got double top at .40 level
[11:07] {Threei} lol, welcome
[11:07] {Threei} get a bucket and umbrella
[11:07] {samire} raining money in California
[11:07] {samire} do u want some ?
[11:08] {Threei} always
[11:08] {samire} DHL
[11:08] {Threei} you sharing?
[11:09] {Threei} will trail stop again after .50 break
[11:09] {davd} out 1/2 slw
[11:09] {nemo} new support just became resistance
[11:09] {nemo} other way around
[11:10] {patience} Mark Haines of cnbc passed away
[11:10] {patience} used to watch him
[11:10] {nemo} where you been patience?
[11:11] {patience} old news?
[11:13] {Threei} stop to .35
[11:13] {Threei} and second partial is coming
[11:13] {davd} yes, hes been dead all morning
[11:13] {Threei} over 1:2
[11:13] {RonS} lol
[11:14] {Threei} lol
[11:14] {Threei} nasty but lol
[11:14] {ese} got cut off again
[11:14] {Threei} out next partial .57
[11:14] {davd} what do you guys listen too during the day (business news, that is...)
[11:15] {dino} pss lod
[11:15] {dino} davd, i listen to music, no tv
[11:15] {Threei} my newsfeed has voice datas
[11:15] {Threei} data
[11:15] {Threei} a few seconds faster than text
[11:16] {Threei} if I really want to listen to something business related, that would be it
[11:16] {patience} i listen to bnn, don't watch the screen much though
[11:17] {Threei} stop is still .35 for the last portion
[11:17] {davd} voice on newsfeed?
[11:17] {Threei} yes
[11:18] {Threei} for those who needs news absolutely the first and fastest
[11:18] {davd} so, what;s it called? :/
[11:19] {Threei} my news?
[11:19] {Threei} come on, it has been on the website for only about last three years or so
[11:19] {Threei} go to homepage, scroll down
[11:19] {dino} like pulling teeth
[11:19] {nemo} oh...we supposed to look at the website?
[11:19] {davd} i was too busy reading tao
[11:19] {Threei} oh
[11:19] {Threei} forgiven then
[11:20] {Threei} but still,,
[11:20] {Threei} go to homepage, scroll down to the banner saying
[11:20] {Threei} Trade the news
[11:20] {davd} ii
[11:20] {Threei} take free trial
[11:21] {Threei} if you like'em, before signing up give'em a call and say "there should be a discount for those who came from realitytrader"
[11:22] {Threei} don't name the number though...
[11:22] {Threei} I don't remember it, and there is a chance they give you more than what you ask if you leave it an open question :)
[11:22] {Threei} SLW baby
[11:22] {RonS} out last half slw .66 from .28 thanks 3i
[11:22] {Threei} welcomne sir
[11:23] {Threei} 1:5
[11:23] {Threei} 1:4, sorry
[11:23] {Threei} out half of the remainder
[11:24] {Threei} unusual partialing scheme for me but really want to squeeze every last drop out of it
[11:24] {davd} slv above 50dma
[11:24] {davd} at
[11:24] {Threei} and this sharp spike makes me take profit
[11:24] {Threei} stop to .49
[11:25] {dino} tsla spike
[11:26] {Threei} had news 13 min ago
[11:26] {Threei} insider buying
[11:26] {Threei} by CEO
[11:28] {Threei} stop to .55
[11:29] {dino} sm l fmcn .09
[11:30] {Threei} ok... target for the last piece starts taking shape
[11:30] {jfjf64} 3i nice nice
[11:30] {Threei} .85 - .95 zone
[11:34] {jfjf64} stop .65
[11:35] {Threei} this is a must to read guys:
[11:35] {Threei} http://www.businessinsider.com/greek-restructuing-debt-2011-5?op=1
[11:37] {RonS} dangit dino wlk
[11:39] {Threei} stop to .65
[11:39] {ese} might have one here expr.....
[11:39] {Threei} and decisive break for the last move
[11:40] {ese} dn 2 bills on a decent Q
[11:40] {Threei} target hit
[11:40] {Threei} out .91
[11:40] {Threei} +.60
[11:40] {RonS} wtg
[11:40] {Threei} milk trade in all its glory
[11:41] {Threei} the hardest thing about milk trades?
[11:41] {Threei} read all about it in Catch of the Day
[11:42] {dino} gj
[11:42] {davd} i think selling slv back to 50dma soon imo
[11:47] {davd} out slw in full .95
[11:47] {Threei} :)
[11:48] {Threei} is it fun or what
[11:48] {Threei} samire, how's that money rain doing
[11:48] {davd} yes, its the mov avg with the commodities....
[11:49] {davd} this is a dt for slv over the past 2 wks (since it plummeted). thoughts 3i?
[11:50] {dino} fmcn stop -.22
[11:52] {Threei} hmmm
[11:52] {Threei} sorry, no thoughts really
[11:53] {nemo} http://www.youtube.com/watch?v=GWciMISV9A8&feature=related
[11:53] {jfjf64} and to think slw rinsed us out !!!!
[11:53] {jfjf64} ty slw
[11:53] {Threei} it just borrowed 10 cents from us
[11:54] {Threei} to return with interest at the first chance
[11:54] {Threei} and what interest it was
[11:54] {Threei} 600%
[11:54] {jfjf64} yes yes
[11:54] {jfjf64} i tk back that rggg
[11:54] {Threei} nah, mine stays
[11:54] {Threei} I still don't like to be rinsed
[11:55] {jfjf64} what bout ya ulysses
[12:01] {nemo} what about me?
[12:02] {dino} expr lod
[12:02] {jfjf64} im goingg to lunch
[12:02] {RonS} bid volume pathetic
[12:02] {dino} yeah
[12:02] {Threei} mail me a lobster, jf
[12:03] {jfjf64} cod dtop
[12:03] {jfjf64} cog
[12:03] {jfjf64} ?
[12:03] {Threei} no, no cod... lobster
[12:03] {ese} L sify .79
[12:04] {dino} hrl to .15
[12:06] {RonS} out hrl .20 from .85 +.35 thanks dino
[12:06] {dino} gj, yw
[12:07] {dino} slow day for me
[12:07] {jfjf64} gj rs
[12:07] {dino} hrl stop .15, +.30
[12:08] {jfjf64} .65 short cog
[12:09] {dino} rinsed fmcn, sheesh
[12:12] {RonS} samire needs to fix that for ya dino
[12:12] {RonS} :)
[12:13] {dino} someone needs to fix it
[12:15] {dino} expr gap around 19.40
[12:19] {ese} ya
[12:20] {davd} big drop in gld
[12:25] {nemo} slw
[12:25] {nemo} .51
[12:26] {nemo} 1/2 .60
[12:26] {nemo} lunch scalps
[12:27] {Threei} nice
[12:27] {Threei} easy money
[12:27] {Threei} low risk
[12:27] {nemo} yeah, vwap bounce at .46
[12:27] {nemo} showed db
[12:28] {nemo} got support at early high
[12:34] {nemo} 1/4 more .74
[12:35] {dino} gj
[12:37] {nemo} o.k. greed, bird in hand?
[12:37] {dino} lps drop
[12:37] {nemo} out .87
[12:38] {nemo} Just call me "wuss"
[12:38] {gregns} great job nemo
[12:38] {nemo} ty
[12:38] {nemo} almost forgot I said I was taking a lunchtime scalp
[12:39] {Threei} hey, beling a wuss in the markets is not necessary a bad thing
[12:39] {Threei} a lot of dead lions out there
[12:39] {Threei} traders' cemetery has this tumbstone almost as a staple: He Was a Brave Trader
[12:39] {nemo} True...lunchtime is lunchtime, probabilities favor scalping
[12:40] {Threei} it's like with pilots, you know...
[12:40] {Threei} There are old pilots. There are bold pilots. There are no old bold pilots
[12:40] {nemo} can only crash once
[12:41] {dino} nemo, whatever works
[12:41] {nemo} mmmhhhh....think my nephew will be pissed if I sacrifice his rabbit to the trading gods
[12:41] {dino} ya think
[12:42] {nemo} funny...supposed to give them wood to kinda' keep there teeth in check
[12:42] {nemo} nah...likes to crawl up into my box spring and naw on the steel coils
[12:42] {nemo} fun at 3 in the morning
[12:42] {RonS} hasenpfeffer
[12:42] {nemo} genau
[12:43] {nemo} spy about to defecate the sleeping apparatus
[12:47] {dino} lps sm l .50
[12:52] {dino} stop -.25
[12:56] {nemo} trying some tna .85
[12:56] {nemo} .95
[12:57] {dino} wtf lps rinsed
[12:57] {nemo} 1/2 .06
[12:58] {nemo} stop .94
[12:58] {dino} reload sm l lps .50
[12:58] {nemo} 1/4 more .35
[12:59] {nemo} stop...eh...not sure
[12:59] {nemo} must be my birthday today or soemthin
[12:59] {nemo} eh, .28
[13:02] {nemo} held on by a...hair
[13:02] {dino} rabbit hair
[13:02] {nemo} whatever works for ya
[13:03] {nemo} cit
[13:04] {nemo} boy, caught the bottom of the bull falg on that
[13:04] {nemo} flag
[13:07] {dino} lps to .85
[13:07] {dino} out slpi .81, +.31
[13:07] {dino} slip
[13:12] {nemo} needless to say out of tna
[13:19] {dino} wbc spike
[13:21] {RonS} this on cnbc?...Bob Howard of kkr likes $WBC
[13:22] {Threei} did he use facebook "like" button?
[13:22] {dino} ty
[13:22] {dino} smiley face
[13:22] {RonS} lol
[13:23] {RonS} reminds me of the freakin y2k dotcom days...
[13:24] {dino} well if it hits .49 i am short
[13:25] {dino} sm s .30
[13:28] {dino} hsni spike
[13:29] {dino} cov wbc .00, +.30
[13:30] {RonS} RT @StockTwits: Our boy @ReformedBroker is Live Tweeting from the Ira Sohn Conference: http://stk.ly/mIqHsD$WEC $CIT $HSNI
[13:31] {Threei} oh, about tweeting nation
[13:31] {Threei} yesterday I almost caused untimely death of a salesman
[13:32] {nemo} Was his name Willie?
[13:32] {Threei} salesman in a electornic shop that is... poor guy, he was not ready for this
[13:32] {Threei} he saw my cell phone
[13:32] {Threei} his jaw dropped
[13:32] {Threei} he asked what that was
[13:32] {RonS} the brick
[13:32] {Threei} I said a phone
[13:32] {Threei} no.. small
[13:33] {Threei} but it's a phone... not a device with touchscreen and zillion features
[13:33] {Threei} just a phone
[13:33] {dino} thought the hampster wheel threw him off
[13:33] {Threei} he said no, they are not like this, this must be something else
[13:33] {Threei} I opened it (yes, it's a flip phone),
[13:33] {dino} bid ron
[13:34] {Threei} and showed him keypad
[13:34] {Threei} and mike and cpeaker
[13:34] {Threei} speaker
[13:34] {Threei} so he grasped the concept that yes, it was a phone,
[13:34] {RonS} latest tweet: Bob Howard thinks $HSNI could see anywhere between 40-95% upside depending upon m&a, leveraging, revaluation
[13:34] {Threei} but the idea that something could use device obviously made in ancient Egypt times
[13:34] {Threei} from when pyramids were half-built
[13:35] {dino} is this where these spikes are coming from, tweets?
[13:35] {Threei} sent him to deep blackout
[13:35] {RonS} yep
[13:35] {dino} wow ron, interesting times. i guess we just short buck bounces then
[13:36] {RonS} http://tinyurl.com/3bzmkwc
[13:36] {dino} bid to .99
[13:36] {dino} well if hsni gets to 32.50 i will be shorting it
[13:37] {RonS} hsni 3.6 mil sh short
[13:38] {dino} hmm geting there
[13:39] {RonS} RT @ReformedBroker: Liberty Media owns 30% stake in $HSNI - and ALL of QVC, a merger would be a no-brainer
[13:39] {dino} gap fill
[13:39] {dino} 33.30 another gap
[13:43] {nemo} MOS
[13:44] {Threei} photo of my phone, circa 2005
[13:44] {Threei} http://retrocell.ca/index.php?main_page=product_info&cPath=1&products_id=74&zenid=635c85ac315a99bcb07e01f28766d6bd
[13:45] {RonS} ya, my wife still has one of those on a prepaid...
[13:48] {dino} hsni sm s .60, bstop .80
[13:50] {RonS} guys...this is serious...hsni reminded me of the only product i ever purchase off tv...it is a terrific canadian made product (at least was): http://tinyurl.com/3v5v6hp
[13:51] {RonS} had back probs at the time...had it 15 years
[13:53] {dino} stopped -.25
[13:53] {Threei} god.. so werid-looking, it must be canadian
[13:53] {dino} wants the gap
[13:54] {RonS} people stop all the time to ask me about it...works like charm
[13:54] {Threei} so's my phone... but people stop nonetheless, jaw on the floor...
[13:57] {dino} bid to .04 slow motion stock
[14:00] {dino} out bid +.34
[14:03] {Threei} nice
[14:04] {Threei} lol, gotta share this... buddy photographer sent it to me
[14:04] {Threei} http://www.youtube.com/watch?v=awq90APEVgw&feature=player_embedded
[14:06] {dino} hsni sm s .80
[14:07] {nemo} oh jeez
[14:17] {dino} expr sm l .05
[14:26] {Threei} e-mails I get...
[14:26] {Threei} make sure you sit tight
[14:26] {Threei} Dear Vad,
[14:26] {Threei} I started trading two weeks ago. It's hard. I tried 5 systems and none of them worked. I am going to buy 10-15 systems each month and return them before refund date. Can you point out the best systems to try so I don't waste time? How do I buy your system?
[14:28] {dino} lol
[14:28] {RonS} shorter version: i am an idiot and acting as such
[14:29] {dino} he gets 2 weeks free right
[14:29] {nemo} OMFG!
[14:29] {Threei} Dear ...,
[14:29] {Threei} thanks for warning, I'll make sure not to sell you anything.
[14:34] {Threei} thank that'sd all? I had real jem a few weeks ago, let me find it
[14:35] {Threei} here it is
[14:36] {Threei} this one, make sure you both, sit tight and hold onto something with really really strong grasp
[14:36] {Threei} I read you trading log. I don't understand why you take trades you take. Pls explain as briefly as possible. Don't waste my time with long descriptions, make it three sentences or less. If you can't, you don't know what you are doing. Bye.
[14:37] {nemo} Wow, I have a two word answer for him
[14:37] {Threei} two?
[14:37] {nemo} Nah, make it three
[14:37] {Threei} shortest I could do was three
[14:37] {Threei} there :)
[14:37] {nemo} I think we came up with the same one
[14:37] {Threei} suspect so
[14:38] {RonS} two here
[14:38] {nemo} First word start with G, last word end with F
[14:38] {Threei} it uses facebook language
[14:38] {Threei} go friend yourself
[14:38] {nemo} yeah
[14:39] {Threei} I haven't answered though... entertaiment factor is there, so I am thankful
[14:39] {nemo} reminds me, fwb coming over tonight
[14:39] {dino} i guess i should stop writing you
[14:39] {Threei} dino, and please ask magoo to stop it
[14:39] {nemo} would you like me to answer your fan mail
[14:40] {dino} no, i can imagine
[14:40] {Threei} hehe
[14:40] {Threei} I need to start putting these gems to separate folder... scared to think how many of those I deleted over years
[14:47] {Threei} let's do the same thing we did yesterday when went into profit preservation mode
[14:47] {Threei} cut size to half lot
[14:47] {Threei} trading conservatively
[14:47] {Threei} Long Setup: RIMM .20 break
[14:51] {rizvisy1} in at .20
[14:51] {davd} in .2
[14:55] {nemo} Wow, Red Sox winning 14-0 against Indians...scored 7 runs in the 1st inning...wtf
[15:01] {Threei} (US) Senator Chambliss: Gang of Six is close to an agreement on a deficit reduction plan
[15:01] {Threei} ***Reminder: On May 17th Senator Coburn (R-OK) pulled out of negotiations with the 'gang of six' saying he is not optimistic the group could reach an agreement on budget
[15:03] {rizvisy1} Vad, stops on Rimm?
[15:03] {Threei} standard
[15:03] {Threei} under .10
[15:04] {rizvisy1} 1:1 at .30 right
[15:04] {Threei} yes... but considering this lunch time lame trading, may have to modify it a bit
[15:04] {Threei} will see
[15:05] {Threei} so far so good
[15:05] {samire} go money man
[15:05] {dino} hsni stop -.21
[15:06] {Threei} 1;1
[15:06] {Threei} 2/3 out
[15:06] {Threei} stop to .19
[15:10] {davd} out 1/2
[15:16] {dino} expr to .25
[15:18] {dino} out +.20
[15:19] {davd} keep stop on rimm at .19?
[15:20] {Threei} oh, just take the damn priofit
[15:20] {Threei} it's lunch
[15:21] {rizvisy1} better idea stuck at .37 around
[15:21] {Threei} well
[15:21] {Threei} nearing dinner
[15:21] {Threei} lol
[15:21] {rizvisy1} it is afternoon siesta time rather
[15:23] {Threei} which is not dissimilar to coma
[15:23] {Threei} self-induced, too
[15:23] {rizvisy1} lol, almost same both have extreme eyelids opening syndrome
[15:24] {Threei} huh... I don't have that syndrome
[15:25] {Threei} I just don't open them
[15:26] {rizvisy1} after having lobsters n Cod you mean...lol
[15:26] {rizvisy1} it is obvious
[15:26] {Threei} no, I don't open them even when all I have is modest steak
[15:27] {Threei} I just don't believe in trading with my eyes open
[15:27] {rizvisy1} so you trade with inner eyes..
[15:28] {rizvisy1} I have yet to find those
[15:31] {jfjf64} eyes open
[15:31] {jfjf64} any i he cd get
[15:31] {jfjf64} lol
[15:31] {jfjf64} tsla wants 30.00
[15:32] {Threei} but does 30 want TSLA?
[15:33] {jfjf64} 29.00
[15:33] {jfjf64} dont mind me
[15:33] {Threei} how very zen of you
[15:33] {jfjf64} no sam adams
[15:33] {jfjf64} lol
[15:34] {dino} calling it a day, thx all
[15:34] {jfjf64} enjoy dino
[15:34] {dino} thx
[15:34] {jfjf64} golf
[15:35] {jfjf64} weather great here
[15:50] {Threei} Ok guys, thank you all
[15:50] {Threei} have a great evening, see you tomorrow
[15:50] {rizvisy1} ty
[15:50] {Threei} don't forget to look at Catch of the Day
[15:50] {rizvisy1} bye
[15:51] {rizvisy1} will do thnx
