Aug 25 2014

A few nice trades, including cool 1:3 short on JPM; a few stops, albeit small but a enough to balance out wins.

Session Time: Mon Aug 25 00:00:00 2014

[09:02] {dino} gm

01[09:02] {@Threei}  dino :)

[09:03] {nemo} SPY clear sailing to 202

[09:10] {nemo} IWM looks short

01[09:11] {@Threei}  too narrow to tell

01[09:11] {@Threei}  gap-b-stall in progress

[09:11] {nemo} yes

01[09:11] {@Threei}  b=n

[09:11] {nemo} notice I said "looks" and not "is"

[09:12] {nemo} Yeah...Wile...E...Coyote moment...gap up wondering if it just ran off the cliff 

[09:13] {dino} everybody expecting big drop, gut says up

[09:14] {nemo} nothing overhead

[09:14] {nemo} 202

01[09:14] {@Threei}  I concur

01[09:14] {@Threei}  this is 2000 all over again

[09:15] {nemo} I'm not sure about that...those were all vapor stocks

[09:15] {nemo} "it's about eyeballs"

01[09:15] {@Threei}  doesn't matter... similarity is - market goes up forever, and everyone expects big drop,

[09:15] {dino} feels like it 3i, wants 20k

[09:16] {nemo} yeah...we haven't hit euphoria

01[09:16] {@Threei}  and it doesn't come untuil common knowledge becomes "it never will"

[09:16] {nemo} interesting how SNDK hasn't recovered

01[09:16] {@Threei}  tv clowns like Cramer start proclaiming new era

[09:16] {nemo} Ahh yes....The Rapture

[09:18] {troub} good morning

01[09:19] {@Threei}  troub :)

01[09:19] {@Threei}  Upside:

01[09:19] {@Threei}  -OSIS +5.5% (earnings)

01[09:19] {@Threei}  -ITMN +36% (to be acquired by Roche @$74/shr in all cash deal)

01[09:19] {@Threei}  -BKW +15% (in talks to acquire Tim Hortons)

01[09:19] {@Threei}  -THI +15% (in talks w/BKW for potential acquisition)

01[09:19] {@Threei}  -X +3.5% (Credit Suisse raises to Outperform from Underperform)

01[09:19] {@Threei}  -DGLY +18% (follow thru momentum from Ferguson riots)

01[09:19] {@Threei}  -ANN +3% (shareholder Engine Capital believes company could be worth up to $55/shr)

01[09:19] {@Threei}  -GIMO +4.7% (announced collaboration w/VMWare NSX and Software-Defined Data Center)

01[09:19] {@Threei}  -INSY +6.1% (receives FDA Orphan Drug Designation for

01[09:19] {@Threei}  -ADXS +4.6% (announced advanced prostate cancer collaboration agreement w/Merck)

01[09:19] {@Threei}  -TOPS +6.4% (announced extended charter and increased rate for M/T EShips Taweelah)

01[09:19] {@Threei}  -LTM +9% (exploring REIT conversion)

01[09:19] {@Threei}  Downside:

01[09:19] {@Threei}  -QIHU -4.2% (earnings)

01[09:19] {@Threei}  -GEF -10% (guides FY14 lower)

01[09:19] {@Threei}  -RGDO -43% (permanently halts Regulate-PCI Phase III clinical trial for Revolixys Kit)

[09:23] {nemo} IWM looking short

[09:23] {nemo} spy coming in

[09:30] {ese} morning

[09:31] {ese} walking a picket line in an hour and a half

01[09:31] {@Threei} Long Setup:  TWTR  46 break

[09:31] {nemo} why don't u get there early to get a good spot

[09:31] {ese} lol

01[09:31] {@Threei}  ese :)

[09:31] {ese} good one nemo

01[09:31] {@Threei}  If holds  .90 

01[09:32] {@Threei}  no resultion in sight I take it, ese?

[09:33] {ese} not yet....but Vince Ready apparently will be mediating now.....he's one of the best in the country

01[09:35] {@Threei}  a lot of selling in SPY

[09:35] {nemo} tested this side of 200

[09:35] {mib_stillstanding} TWTR l 46.01

01[09:35] {@Threei}  stop to .94

01[09:35] {@Threei}  1:1  

01[09:36] {@Threei}  know what to do mib?

[09:38] {mib_stillstanding} stop to .99 ?

01[09:39] {@Threei}  partial first

01[09:39] {@Threei}  and yes, trail stop

[09:41] {mib_stillstanding} trail was supposed to be where?

01[09:42] {@Threei}  when 1:1 was hit...

01[09:43] {@Threei}  we partial and trail

01[09:43] {@Threei}  SOP, remember?

01[09:43] {@Threei}  instructions on the trading room page

[09:43] {mib_stillstanding} higher up than .99? trail by .10 or .11?

[09:43] {mib_stillstanding} ok

01[09:44] {@Threei}  *(US) AUG PRELIMINARY MARKIT SERVICES PMI: 58.5 V 58.0E

01[09:44] {@Threei} Long Setup:  FB  .10 break

01[09:45] {@Threei}  If holds  75 

01[09:45] {@Threei}  (US) Major US banks said to be planning to meet with the US treasury over the coming months to discuss cyber threats - financial press - Aims discussion related to how to fight off cyber attacks

01[09:49] {@Threei}  let's trail to .04

01[09:49] {@Threei}  not liking slowdown

[09:52] {dino} qihu sm l .76

06[09:53] * @Threei kicks FB in the rear

01[09:54] {@Threei}  meh

01[09:58] {@Threei}  (US) Preview: July New Home Sales expected at 10:00 ET (14:00 GMT) - Consensus expectations: 429Ke v 406K prior

01[09:59] {@Threei} Short Setup: C  .90 break

01[09:59] {@Threei}  *(US) JULY NEW HOME SALES: 412K V 429KE

01[09:59] {@Threei}  If holds  .95 

01[10:00] {@Threei}  noper

[10:01] {dino} qihu stop .49 -.27

[10:01] {mib_stillstanding} i shorted and got out

[10:01] {nemo} banks still celebrating that get out of jail card free from last week

[10:07] {nemo} not a single weak stock on the algo

01[10:08] {@Threei} Short Setup: SLW  .50 break

01[10:08] {@Threei}  If holds  .60 

01[10:14] {@Threei}  C rinse

01[10:14] {@Threei}  bastard

[10:17] {mib_stillstanding} still in?

01[10:17] {@Threei}  in what?

[10:17] {mib_stillstanding} SLW

01[10:17] {@Threei}  of course

01[10:17] {@Threei}  why not

[10:18] {mib_stillstanding} stop move?

01[10:18] {@Threei}  not yet

01[10:19] {@Threei}  C, right idea, too tight stop

01[10:21] {@Threei}  S&P 500 moves above 2000 for the first time

01[10:21] {@Threei}  stop to .56 now

01[10:22] {@Threei}  ugh

[10:24] {nemo} IWM short

[10:25] {nemo} looking for them to check the other side of the spy range

[10:30] {mib_stillstanding} no clear trend. not enough volatility.not good to trade breakouts. 2 cents.

01[10:30] {@Threei}  *(US) AUG DALLAS FED MANUFACTURING ACTIVITY: 7.1 V 12.8E

[10:34] {dino} pzza drop

[10:35] {ese} that didn't efect the mrkt at all those Man..numbers

[10:36] {nemo} Draghi last week and the bank get out of jail card

[10:36] {nemo} we're going up especially in a low volume week like this

[10:36] {ese} lol

[10:36] {nemo} I'm out of iwm

[10:42] {dino} grub drop

[10:43] {dino} grub sm l .51

[10:44] {dino} out grub .00, +.49

[10:44] {dino} too soon

[10:46] {troub} wtg dino 

[10:48] {dino} ty

01[11:03] {@Threei} Short Setup: CAT  .10 break

01[11:03] {@Threei}  If holds  .15 

01[11:04] {@Threei}  Invalidated  

01[11:09] {@Threei} Long Setup:  VXX  .40 break

01[11:09] {@Threei}  If holds  .35 

01[11:17] {@Threei}  I hate augiust

[11:18] {mib_stillstanding} i hate all months 

01[11:18] {@Threei}  I don't

01[11:19] {@Threei}  august is the only exception

[11:19] {cosmo} April is the worst...

01[11:19] {@Threei}  with July running close second

[11:19] {dino} april was good

[11:19] {nemo} I'm not partial to days that end in "y"

[11:30] {mib_stillstanding} away 

01[11:41] {@Threei} Short Setup: BKW  .70 break hl

01[11:42] {@Threei}  If holds  .80 

01[11:44] {@Threei}  ./i

01[11:44] {@Threei}  Invalidated  

01[11:56] {@Threei} Short Setup: JPM  .80 break

01[11:57] {@Threei}  If holds  .85 

01[11:58] {@Threei}  C started descent, good chance JPM will follow the suit

01[12:06] {@Threei}  ideally, SOY loses .40, C - .80, then JPM hit's 1:1

01[12:06] {@Threei}  SPY

01[12:06] {@Threei}  hits

01[12:06] {@Threei}  jeez, my typing...

01[12:07] {@Threei}  1:1  

01[12:07] {@Threei}  even better

01[12:07] {@Threei}  C breakdown should send JPM lower yet

01[12:10] {@Threei}  cover 1/4 more here

01[12:10] {@Threei}  stop .76

01[12:13] {@Threei}  .71 now

01[12:15] {@Threei}  1:2  

01[12:17] {@Threei}  stop for the remaining 1/4 to .66

01[12:17] {@Threei}  lwt's choke it

01[12:23] {@Threei}  Russian tanks cross border, open new war front in Ukraine

01[12:33] {@Threei}  1:3  

01[12:33] {@Threei}  out

01[12:34] {@Threei}  happy

01[12:37] {@Threei}  1:4

01[12:44] {@Threei}  time for reversal

01[12:46] {@Threei} Long Setup:  JPM  .40 break

01[12:46] {@Threei}  If holds  .34 

[12:47] {nemo} Q: What are the three most common words in the English language? A: Made in China.

01[12:47] {@Threei}  sad

[12:49] {mib_stillstanding} isnt jpm forming bear flag i.e. should be shorted below?

[12:50] {nemo} fade it then

[12:50] {nemo} look at indexes

[12:50] {nemo} if it doesn't go up with indexes u r right

01[12:50] {@Threei}  that's what triggers are for

01[12:50] {@Threei}  if it doesn't break .40, it's not a long play

[12:50] {nemo} I like mine set around 2 lb. pull

01[12:51] {@Threei}  Invalidated  

[12:51] {nemo} indexes looking short

01[12:51] {@Threei}  and any invadilation can be looked as as fading the setup

[12:51] {nemo} was it Chaeron that loved fading ur setups?

01[12:52] {@Threei}  yep, that was his specialty

01[12:52] {@Threei}  he skipped all that triggered and took all that invalidated

01[12:52] {@Threei}  did pretty good too

[12:52] {mib_stillstanding} what happened to him

[12:52] {nemo} yeah, well, when you're the underworld's boatkeeper, I would think shorting would fit ur nature

01[12:52] {@Threei}  nothing, good and well

01[12:53] {@Threei}  now and then drops by to say hello

[12:53] {mib_stillstanding} in the room?

01[12:53] {@Threei}  yes

[12:53] {mib_stillstanding} he pays monthly fee just to drop in once in a while?

01[12:54] {@Threei}  I have to say, you ask the wierdest questions I';ve ever got from a trialer, lol

[12:55] {mib_stillstanding} i am a wierd person. not a reasonable question?

01[12:55] {@Threei}  no

01[12:55] {@Threei}  other person's financial considerations are not mine to discuss with third parties

[12:55] {nemo} who Vad lets in and when is his business,no? 

01[12:56] {@Threei}  just as you probably wouldn't want me to discuss yours with someone else

[12:58] {dino} surprised he still lets me in

01[12:58] {@Threei}  don't be

[12:58] {mib_stillstanding} if i ask wierd question feel free not to answer... 

01[12:58] {@Threei}  I experience childhood love and admirsation for T-Rex

[12:59] {nemo} the animal or the group

01[12:59] {@Threei}  but then you'll complain that I ignore you :)

[12:59] {mib_stillstanding} but of course. 

01[12:59] {@Threei}  see? I can't win :)

[13:00] {mib_stillstanding} i know the feeling. have been trying to figure trading out for 35 years

01[13:01] {@Threei}  should have come here earlier

[13:02] {mib_stillstanding} worked for a salary. all losing days. but got paid at least.

[13:03] {dino} qihu sm l .97

[13:04] {mib_stillstanding} for you latest JPM buy signal, why fade the JPY downtrend?

[13:04] {mib_stillstanding} your

01[13:04] {@Threei}  JPM fade works

01[13:04] {@Threei}  every trend reverses sooner or later, no?

01[13:04] {@Threei}  it's simply a matter of triggers

01[13:04] {@Threei}  which side triggers first

01[13:05] {@Threei}  long or short

01[13:05] {@Threei}  odds were on a long side, so I called that, but short was still valid

01[13:05] {@Threei}  you had your triggers, if you saw it as short - your treade was properly structured for you,

01[13:05] {@Threei}  short ,.34 break with stop above .40

[13:05] {nemo} spy testing lows

[13:06] {mib_stillstanding} the trend not your best friend anymore? why try a contratrend trade?

01[13:06] {@Threei}  didn't I answer it above?

[13:07] {mib_stillstanding} but wouldnt you be better off to only take triggers in the diirection of the JPM trend?

01[13:08] {@Threei}  I am lost

[13:08] {nemo} judgement

01[13:08] {@Threei}  both are valid trades

[13:08] {nemo} it's probability not certainty, 

01[13:08] {@Threei}  I give you triggers and the direction of better odds

[13:08] {nemo} after such a drop from highs Vad was thinking bounce

[13:08] {nemo} if it didn't bounce and goes through support, play it short

[13:08] {nemo} adaptability, flexibility

01[13:09] {@Threei}  over 40 cents drop, for the stock with today's range 80 cents

01[13:09] {@Threei}  you don't think bounce should be in cards, especially during August swamp when trends are simply not there?

[13:10] {_biotrader} is this a trading room?

01[13:10] {@Threei}  hmmm

[13:10] {dino} yes

01[13:10] {@Threei}  what do you think we are discussing? :)

[13:11] {_biotrader} ok thanks

01[13:12] {@Threei}  you've seen the JPM short call, biotrader?

[13:13] {_biotrader} yes that was a good call

01[13:14] {@Threei}  cool... thought you might have missed it, since you asked wether it was trading room :)

[13:17] {dino} out qihu .27, +.30

01[13:17] {@Threei}  wtg

[13:18] {dino} ty

01[13:18] {@Threei}  watching IWM for pullback entry

01[13:25] {@Threei}  got away

01[13:25] {@Threei}  wanted it under .50

[13:30] {nemo} this bearish resistance for SPY

[13:31] {nemo} iwm stays above .70 bullish

01[13:44] {@Threei}  drop under .50 would still be interesting for double bottom

01[13:44] {@Threei}  WMT Reportedly introduces their chip enabled Mastercard (related MA V)

01[13:53] {@Threei}  biotraders are multiplying?

01[13:54] {@Threei}  one is enough :)

[13:54] {_biotrader2} lol

01[13:54] {@Threei}  :)

[13:55] {mib_stillstanding} IWM l 115.71

[13:58] {mib_stillstanding} IWM out at 115.79 +.08

01[13:58] {@Threei}  nice scalping footwork

01[13:59] {@Threei} Long Setup:  EBAY  .55 break

01[13:59] {@Threei}  If holds  .45 

[14:05] {mib_stillstanding} IWM l .78 out .72 -6 

01[14:05] {@Threei}  change EBAY to .45 break

01[14:05] {@Threei}  If holds  .39 

[14:09] {mib_stillstanding} EBAY l .46

01[14:18] {@Threei}  feels like failure

[14:18] {mib_stillstanding} i know the feeling well...

01[14:20] {@Threei}  man, are you ever pessimistic

[14:20] {mib_stillstanding} 90% of traders fail. why should I not be?

01[14:21] {@Threei}  you enter profession with intention to be among failing?

01[14:21] {@Threei}  why would you enter it at all then?

01[14:21] {@Threei}  this is the same pecrcent that any business shows

01[14:21] {@Threei}  don't go in entrepreneurship then

01[14:22] {@Threei}  here is better question for you to ponder on

01[14:22] {@Threei}  do you believe there is any chance in hell to succeed while being dead set on failure}?

01[14:23] {@Threei}  there is 10 % that make it. Why not aim to become one of them?

01[14:23] {@Threei}  if you can't do that, don't waste your time and money, look for something else to do

[14:24] {mib_stillstanding} I am trying but have not found any confidence yet to trade with real money and wont until I at least think I can be successful. 

01[14:25] {@Threei}  well, you sure are trying hard to convince yourself that you won't

01[14:25] {@Threei}  and guess what... whether you think you can do it or not, you are right

[14:26] {mib_stillstanding} so the 90% all thought that they couldn't?:)

01[14:26] {@Threei}  may I offer you a mental experiment?

01[14:26] {@Threei}  no, but none of 10 % did

[14:26] {mib_stillstanding} yes!!

01[14:26] {@Threei}  here goes

01[14:27] {@Threei}  Envision a foot wide board laying down on the ground. Can you walk it not falling on the ground?

[14:27] {mib_stillstanding} yes

01[14:28] {@Threei}  Now envision this same board, 100 ft high in the air. Can you walk it?

01[14:28] {@Threei}  no wind, board is rock solid

[14:29] {mib_stillstanding} wouldnt want to try

01[14:29] {@Threei}  and if you did, chances are...?

[14:30] {mib_stillstanding} depending on length of board, theres a good chance I would fall

01[14:30] {@Threei}  right

01[14:30] {@Threei}  so, what changed?

01[14:30] {@Threei}  same board

01[14:30] {@Threei}  same width

01[14:30] {@Threei}  nothing external pushes you off the board

01[14:30] {@Threei}  yet your muscle would go rigid,

01[14:30] {@Threei}  you balance would have been off

01[14:31] {@Threei}  legs would be shaking

01[14:31] {@Threei}  what changed?

01[14:32] {@Threei}  need help?

[14:33] {mib_stillstanding} awareness of consequences of falling changed.

01[14:33] {@Threei}  very correct,

01[14:33] {@Threei}  price of mistake changed, rising drastically,

01[14:33] {@Threei}  and that brought fear

01[14:33] {@Threei}  and fear resulted in this paradox:

01[14:34] {@Threei}  ot made that same outcome which caused the fear more likely.

01[14:34] {@Threei}  Back to trading... same thing happens

01[14:34] {@Threei}  Your negative mindset kills your chances for a positive outcome

01[14:35] {@Threei}  and foreseeing your next question,

01[14:35] {@Threei}  no, positive mindset doesn't guarantee positive outcome,

01[14:35] {@Threei}  but negative mondset gurantees that positive outcome will not come

01[14:36] {@Threei}  That's why there are no pessimists among 10%

01[14:36] {@Threei}  even thought there are optimists among 90.

01[14:36] {@Threei}  Hope this makes sense to you

[14:37] {mib_stillstanding} isnt a lot of trading being made by computers who dont have any emotion?

[14:37] {nemo} yep

[14:37] {nemo} but they're programmed by humans who do

01[14:38] {@Threei}  it doesn't matter at all

01[14:39] {@Threei}  how do those computers prevent you from profiting?

01[14:39] {@Threei}  I hear this computer scary tales for about a decade, and we did quite well in the meanhtime

[14:39] {mib_stillstanding} they have no fear or greed... 

01[14:39] {@Threei}  while those who talk about it just use it as an excuse for their losses

01[14:39] {@Threei}  so what?

01[14:40] {@Threei}  setup remains a setup

01[14:40] {@Threei}  chart remains a chart

01[14:40] {@Threei}  you think those programs do not lose money?

[14:40] {mib_stillstanding} and the 90% dont know about the setups. 

01[14:40] {@Threei}  a few years ago Goldman Sachs shut down their elite fund

01[14:40] {@Threei}  run mostly by program trading

[14:41] {mib_stillstanding} happy to hear it. 

01[14:41] {@Threei}  think because of grest profits they've made? :)

[14:43] {mib_stillstanding} i believe there are programs on the bid and ask in most spreads on the indexes like SPY

01[14:43] {@Threei}  so?

01[14:43] {@Threei}  what do they have to do with your trading?

[14:46] {mib_stillstanding} nothing. it's the 90% stat that scares me...

01[14:47] {@Threei}  OK... name me one thing where 90% is successful

[14:48] {mib_stillstanding} plumbers,electricians,

[14:48] {nemo} definitely not marriage

01[14:49] {@Threei}  so, those who simply work by isntructions

[14:49] {mib_stillstanding} marriage only 85% successful

01[14:49] {@Threei}  trading is definitely not that

[14:50] {nemo} marriage is almost 70% unsuccessful

01[14:50] {@Threei}  it's much closer to entrepreneurship than to a trade kind of job

01[14:50] {@Threei}  if that puts you off, then trading is not your field

01[14:51] {@Threei} Short Setup: GDX  .70 break

01[14:51] {@Threei}  If holds  .75 

01[14:52] {@Threei}  scalp only most likely

01[14:59] {@Threei} Long Setup:  IWM  .70 break

01[14:59] {@Threei}  If holds  .60 

[15:00] {dino} mib_ regarding the computers trading, there are better worlds

[15:00] {dino} trade where they are not

[15:05] {nemo} or as Yoda would say, "Go where they not be."

[15:06] {dino} lol

01[15:06] {@Threei}  Yoda-speak your strong suit isn't

01[15:06] {@Threei}  would say Yoda: Go where they be not

[15:06] {nemo} stones and glass houses Vad

[15:06] {dino} of course that argument could be used against computers, as they trade against each other, zero sum game

01[15:07] {@Threei}  let's trail to .64

01[15:07] {@Threei}  not liking how it behaves

01[15:07] {@Threei}  should have been testing .80 break by now

[15:07] {nemo} they look short now, but this 200.10 level very sticky

[15:08] {nemo} on spy

01[15:08] {@Threei}  yup

[15:08] {dino} mib_ in all seriousness, you are have taken trial membership in the dullest month of the year. my advice, buy september and get a feeling for how this gig really works. somthing tells me it will open your eyes

[15:08] {nemo} I concur...trialling in the Summer is not a fair representation

01[15:09] {@Threei}  not only that, it was the dullest August in at least 5 years

[15:09] {nemo} since 2007

01[15:09] {@Threei}  remember how nemo always tries to scare us about dull august, and we always prove hom wrong?

01[15:09] {@Threei}  well, this year he was right

[15:09] {mib_stillstanding} so wouldn't the next logical approach to trial in September?

[15:09] {nemo} No

01[15:09] {@Threei}  (pains me to admit)

[15:09] {nemo} you trialed

01[15:10] {@Threei}  IWM, take half out

06[15:10] * nemo gets out taser

[15:10] {dino} next logical step is to read ttr before september trading starts

[15:10] {nemo} and 111 trades

[15:10] {dino} will only take a few hours

[15:10] {nemo} then there's the Taoist Trader

[15:11] {nemo} and then to break it up, may I suggest Nabokov

01[15:11] {@Threei}  why, mib? Trial is to find out whether we know what we are doing. On top of that, there are years and years of trading log published on website. You still haven't made up your mind about that?

[15:11] {nemo} plus...with a little luck, our favorite comic foil comes back in September

[15:11] {mib_stillstanding} and all guaranteed as well i believe

01[15:11] {@Threei}  what guaranteed?

[15:12] {dino} after that is complete, i suggest a law of attraction book. attitude must change or you simply guarantee your failure. 

01[15:12] {@Threei}  that's guarantee, yes :)

[15:12] {dino} trading is not "easy" to learn, its a process, otherwise everybody would be a trader.

01[15:12] {@Threei}  ok IWM, take .80 please

[15:12] {nemo} finnies weak

[15:13] {mib_stillstanding} any surgery available for attitude change:)

[15:13] {mib_stillstanding} whats guaranteed?

01[15:13] {@Threei}  with 2x4, yes

01[15:13] {@Threei}  endowed with rusty nails

01[15:13] {@Threei}  pointy ends out

[15:13] {nemo} the beatings will continue until morale improves

[15:13] {dino} guaranteed failure, if you expect to fail. law of attraction

[15:14] {mib_stillstanding} a few rusty nails and I always feel better

[15:14] {nemo} not with kurare on them you won't

[15:15] {mib_stillstanding} i'm married. i'll take the one with kurare

[15:15] {nemo} smart man

[15:15] {dino} but the bottom line is, you must believe in yourself. failure cannot be an option. otherwise, save yourself some $ and do something else

[15:15] {nemo} get divorced

[15:16] {dino} a million ways to trade, figure out yor "edge". enough said. good luck

[15:17] {mib_stillstanding} isn't there always around a 50/50 chance of a 1:1 move?

[15:18] {dino} no, you must think in terms of probabilities

[15:19] {dino} if your way of reasoning was correct, there would be no use for candles, head/shoulders, cup/handles, etc

[15:20] {dino} probabilities/probabities/probabilities

[15:20] {mib_stillstanding} there may not be... 

01[15:20] {@Threei}  stop to .68

01[15:20] {@Threei}  lol, really?

01[15:20] {@Threei}  what is it we are making money on all these years?

[15:21] {dino} i play mainly intra-day capitulations and euphoric spikes. why? probabilities say they will reverse intra-day

01[15:25] {@Threei}  come on IWM, do it

[15:28] {troub} Don't forget poor little EBAY.

[15:28] {mib_stillstanding} did i get kicked out?

01[15:29] {@Threei}  [15:24] * mib_stillstanding (Mibbit@jas-6272009E.nwrknj.fios.verizon.net) Quit

01[15:29] {@Threei}  if you were kicked out, you wouldn't be able to rejoin

[15:30] {mib_stillstanding} admit it. The thought has crossed your mind.

01[15:30] {@Threei}  you still in EBAY. troub?

01[15:30] {@Threei}  gish... why would it

[15:30] {dino} lool

[15:30] {dino} lol

01[15:30] {@Threei}  tomorrow when your trial ends, it will {G}

[15:31] {nemo} crossed my foot

[15:31] {nemo} crossed my scope too

[15:31] {mib_stillstanding} you mean until the trial again in september right?

[15:31] {troub} yea, stp at .38 and see if it will ever wake up

01[15:32] {@Threei}  what trial in september?

[15:32] {mib_stillstanding} prob is everyone knows about that stop

01[15:32] {@Threei}  15:11] {@Threei} Trial is to find out whether we know what we are doing. On top of that, there are years and years of trading log published on website. You still haven't made up your mind about that?

[15:33] {nemo} smelling spy vwap run

[15:34] {mib_stillstanding} too many losing and unprofitable trades this slow week. would have been nice if more winners were had.

[15:35] {dino} why a prob about everyone knows about that stop???? a stop is a stop, who cares who knows. change the attitude am open yuor eyes. shit happens, who cares why, it just does. this is trading. things happen, you ar supposed to react

01[15:36] {@Threei}  read the log for years back

[15:36] {nemo} yep

01[15:36] {@Threei}  don't demand that we prove yourselves to you

01[15:36] {@Threei}  we exist from 2000

01[15:36] {@Threei}  I trade from 1996

01[15:36] {@Threei}  think we don';t know what we are doing?

01[15:37] {@Threei}  ok IWM

01[15:37] {@Threei}  time to run

[15:38] {nemo} should make .87

[15:41] {dino} fwiw mib- i have been trading here for 7 years. its a no b.s. room. 3i knows his stuff as do alot of the other guys here. but nobody knows what will happen and why with 100% accuracy. the sooner you understand that the better. then use probabilities. certain "x" moves will result in a "y" move 60% or more of the time, etc. stop overthinking, get a positive attitude, and open your mind.  

01[15:41] {@Threei}  where is "like" button?

[15:41] {nemo} well, tagged .86 spy at vwap

01[15:42] {@Threei}  should break...

01[15:43] {@Threei}  stop to .74, time becomes an issue

[15:45] {dino} dkl drop 

[15:47] {dino} damn, missed it

[15:48] {nemo} it's Monday

01[15:48] {@Threei}  troub, I guess it's time to scratch EBAY

[15:49] {troub} seems so.

01[15:49] {@Threei}  closing IWM

01[15:49] {@Threei}  done on that, thank you all

01[15:49] {@Threei}  have a good evening, see you tomorrow

[15:51] {dino} gn 3i

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Feasting on Doves

- A slightly more hawkish tone was heard from the Fed this week, in the minutes of the July FOMC meeting and in speeches from leading officials. Fed Chair Yellen's presentation at Jackson Hole was restrained and balanced, but the dovish Williams and moderate Lockhart both conceded that rate hikes would likely begin by mid-2015. The US yield curve flattened notably after all the talk. August Flash PMI manufacturing readings provided a view of the global economy at the midpoint of the third quarter: in the US, the Markit survey hit its highest level since April 2010, with big gains in all sub-indices; in Europe, the French data sank deeper into contraction while Germany flat-lined; in Asia, the China HSBC manufacturing PMI sank to a three-month low, while Japan's rose to a five-month high. Violence in Iraq, Syria, and Ukraine kept markets jumpy, although it hardly prevented material gains in equities worldwide. For the week, the DJIA gained 2%, the S&P500 rose 1.7% and the Nasdaq added 1.6%.

- The FOMC minutes out on Wednesday indicated that the Fed appears to be shifting to a more balanced view of the economy from a more dovish position. The changes were of tone rather than anything material, although the minutes also showed a growing debate regarding the labor market. The minutes added a controversial new statement: "...a range of labor market indicators suggested that there remained significant underutilization of labor resources." Both Bullard and Plosser have disagreed with the novel use of "significant" to describe labor resource underutilization. Yellen's speech at Jackson Hole on Friday was balanced and pragmatic, noting both the positive developments in the jobs market and more negative trends, including slack in the mortgage market.

- The Ukraine situation seemed to be easing early in the week, as Kiev and Russian officials met and seemed to agree to protocols for allowing the Russian humanitarian mission into Ukraine. Meanwhile the Ukraine armed forces made even more gains against the rebels. By Friday, relations between Kiev and Moscow had soured again after the Russian side forced in the convoy without permission, prompting the Ukrainians to call it an invasion. In Iraq, the killing of a US journalist by ISIS hardened the US stance against the group, prompting very hawkish rhetoric out of administration figures, who suggested airstrikes against ISIS might be expanded into Syria.

- Shares of major US homebuilders gained steadily this week thanks to another month of strong gains in the August NAHB report and the July housing starts. The NAHB's 55 reading was the third month of gains for the index, while July housing starts rose 8%, halting two straight months of declines. Some skeptics pointed out that multi-family units were the lion's share of the gain, but single-family starts also saw solid improvement.

- Target's earnings slid as its Canada operations continued to drag on results, and management cuts its FY view for the second time as traffic declined, even as the firm has ramped up promotional activity. TJX saw its earnings grow by single digits and the firm hiked its FY guidance. Teen retailer American Eagle topped very low expectations on a negative comp. L Brands saw modest growth and positive comps. Both Home Depot and Lowes saw very good quarterly results, and Home Depot said the housing market remains a modest tailwind for its business, and it observed an acceleration of big-ticket spending in the quarter.

- Bank of America reached a $16.7 billion agreement with DoJ to settle charges it misled investors into buying troubled MBS, confirming numerous reports from earlier in August. BoA will pay a $9.65 billion in cash and provide $7 billion of consumer relief to struggling homeowners and communities. The deal resolves nearly all of the legacy issues left over from the hastily-arranged crisis-era acquisitions of Countrywide and Merrill Lynch. The accord is expected to reduce Q3 earnings by about $5.3 billion, or about $0.43/share.

- Various long-running M&A dramas saw new developments this week. Valeant extended the expiration of its exchange offer to acquire Allergan to December 31, and there were reports that Allergan had approached Salix Pharmaceuticals or Jazz about a possible merger to fend off Valeant's advances. CNBC threw cold water on the story, reporting that any potential deal could be months away, perhaps in December. Dollar General rolled out a $9.7 billion cash offer for Family Dollar, topping the $8.95 billion bid made in late July by Dollar Tree. Family Dollar rejected the proposal on the basis of antitrust regulatory considerations, although there were unconfirmed reports that it was open to concessions to resolve the compliance issues.

- EUR/USD hit one-year lows around 1.3220 this week as headwinds strengthened for the European economy. The Ukraine conflict continues to weigh on the single currency, and the opposite trajectories for EU and US monetary policy become even starker. Cable slumped to its lowest level since April thanks to soft July UK CPI inflation data and a significant decline in July PPI inflation numbers. GBP/USD tested below 1.6565 on Friday afternoon. The minutes for the BoE's August meeting disclosed the first dissent on the committee since July 2011. The vote was 7-2, with Weale and Mccafferty dissenting.

- The surprise slowdown in China manufacturing in the first half of August prompted fresh speculation over a further policy stimulus from Beijing. The August HSBC flash manufacturing PMI turned lower for the first time since March, hitting a 3-month low of 50.3 and widely missing consensus of 51.5. Growth in new orders slowed and disinflationary trends resurfaced with a decrease in both input and output price components. Later on the Friday, China's MIIT warned the economy is faced with strong downward pressure, while analysts with Barclays noted this PMI slump could result in as many as two interest rate cuts by the PBoC before the end of 2014.

- An underwhelming run of July economic data in Japan continued with a wider than expected trade deficit. Exports rose for the first time in three months, but soft yen boosted the import value of energy, contributing to the 25th consecutive month of negative trade. On Thursday, local press reported that Japan is looking to set aside as much as ¥1.0T in stimulus funds in the 2015 budget supporting small business, presumably to help soften any further blow to the economy if PM Abe decides to proceed with a second increase in consumption tax.

TradeTheNews

Aug 22 2014

Another quiet and moderately profitable day, thanks to couple 1:2ers early in the day.

Session Time: Fri Aug 22 00:00:00 2014
[09:06] {dino} gm 3i
01[09:06] {@Threei}  morning dino
[09:13] {mib_stillstanding} gm
01[09:13] {@Threei}  morning mib
[09:14] {troub} good morning
01[09:14] {@Threei}  troub :)
[09:17] {nemo} what's GMCR news
01[09:18] {@Threei}  [GMCR] Announces Licensing Agreement with Kraft Foods Group - announced a multi-year licensing, manufacturing, and distribution agreement for Krafts branded coffees in Keurigportion pack formats compatible with Keurigconsumer and commercial brewing systems in the U.S. Financial terms of the agreement were not disclosed.
[09:21] {nemo} low spy volume long weekend started already with Yellen on tap to speak.
01[09:23] {@Threei}  - Russia says aid convoy began moving towards Luhansk and warned against all efforts to halt the humanitarian mission. Russia called on Ukraine, US and EU for political talks (**Note: Reports circulating that convoy was accompanied by small group of pro-Russian separatists but not accompanied by the Red Cross)
01[09:29] {@Threei}  wacthing GMCR dino?
01[09:30] {@Threei}  Upside:
01[09:30] {@Threei}  -PSMI +62% (deal to be acquired by Murata at $12.50/shr, total $471M)
01[09:30] {@Threei}  -DYN +19% (deal with DUK energy
01[09:30] {@Threei}  -GMCR +7% (licensing deal with KRFT)
01[09:30] {@Threei}  -QUNR +7% (earnings)
01[09:30] {@Threei}  -LOCO +5.6% (signs 20 unit expansion agreement with franchisee in TX)
01[09:30] {@Threei}  Downside:
01[09:30] {@Threei}  -ANN -2.7% (earnings)
01[09:30] {@Threei}  -INTU -0.9% (earnings)
01[09:31] {@Threei} Short Setup: FB  .35 break
01[09:32] {@Threei}  If holds  .45
01[09:32] {@Threei}  1:1
01[09:32] {@Threei}  1:2
01[09:33] {@Threei}  closed on a trail
01[09:34] {@Threei}  eeck
01[09:35] {@Threei}  rug pull with force
[09:35] {nemo} X
[09:36] {nemo} gmcr testing daily highs
01[09:38] {@Threei} Short Setup: GLD  .95 break
01[09:38] {@Threei}  If holds  .05
01[09:40] {@Threei}  Invalidated
01[09:40] {@Threei} Long Setup:  FB  74 break
01[09:40] {@Threei}  If holds  .90
[09:41] {troub} dino, do you use vwap?
[09:41] {nemo} yes he does
01[09:42] {@Threei}  Invalidated
[09:42] {dino} y
[09:42] {troub} mind saying how?
[09:43] {nemo} what does VWAP represent troub?
[09:43] {mib_stillstanding} google VWAP
[09:43] {troub} avg over past x period
[09:43] {mib_stillstanding} GLD never hit .05 but invalidated anyway. correct?
[09:43] {nemo} volume weighted
01[09:43] {@Threei}  yes
[09:44] {nemo} your standard moving averages are price over time
[09:44] {nemo} VWAP indicates institutional involvement
[09:45] {mib_stillstanding} supposedly inst traders get bonuses for buying below vwap and selling above
[09:45] {nemo} yes
[09:45] {mib_stillstanding} whether any usefulness in trading????
[09:46] {nemo} so when price reacts at vwap, you have indications on whether there is institutional buying or selling
[09:46] {nemo} that's why you watch for reactions at vwap
[09:46] {troub} thanks,  IP shows vwap.
[09:46] {troub} IB.  trust of compute myself
[09:47] {troub} darn typing like Vad. trust or compute
01[09:47] {@Threei}  told ya troub, it's contagious
[09:47] {nemo} for instance, currently iwm and spy are living under vwap so we know buying is too weak to hold it or exceed what selling there is
[09:47] {mib_stillstanding} good trading too?
01[09:47] {@Threei}  but no, you had to be like "oh I can handle it"
[09:48] {nemo} what you will also find is that there is often a mean reversion where stocks only move so far away from vwap
[09:49] {mib_stillstanding} does vad use vwap?
[09:49] {troub} IB showing 114.73.
[09:49] {nemo} no vad does not
[09:51] {mib_stillstanding} does this chatroom work on android?
[09:51] {nemo} no only replicants
[09:51] {nemo} sorry...couldn't resist
01[09:51] {@Threei}  chatroom doesn't care how you access it, it's just a browser
01[09:52] {@Threei}  as long as android has browser, it should work, although some older versions might have troubles
[09:52] {nemo} news ROST?
01[09:52] {@Threei}  earnings yesterday after close, ROST
[09:53] {troub} nemo, thanks for explain..
01[09:53] {@Threei}  16:01 [ROST] Reports Q2 $1.14 v $1.09e, R$2.73B v $2.72Be - Guides Q3 $0.83-0.87 v $0.86e, SSS +1-2% - Raises FY14 $4.18-4.26 v $4.23e (prior $4.09-4.21) - SSS +2% - Op margin 14.3% v 13.6% y/y
[09:53] {dino} dyn sm s .11 wide
[09:54] {nemo} Janet speaks in 6
[09:55] {nemo} btw...if you see a good stock stretch more than 1.5% from vwap look for reversion setups
[09:56] {mib_stillstanding} dangerous to trade in front of yellen. no?
[09:56] {nemo} short setups spy and iwm
[09:57] {nemo} if they stay under vwap
[09:57] {nemo} too funny VXX looks the same way
[09:57] {nemo} sheesh
[09:57] {nemo} talk about indecision
[09:57] {nemo} look gmcr and vwap
01[09:59] {@Threei}  wow
[09:59] {nemo} yeah
[09:59] {nemo} saw that hammer on IWM
01[09:59] {@Threei}  (US) Fed Chair Yellen: Remains unclear what the degree of labor slack is in the economy - comments from Jackson Hole symposium
[09:59] {nemo} they're really jerking it
01[10:00] {@Threei}  - Tightening too soon might keep the labor market from recovering fully
01[10:00] {@Threei}  lol... have you seen GLD?
[10:00] {dino} jetting janet, keep dropping the dollars
01[10:01] {@Threei}  killed both sides within two minutes
01[10:01] {@Threei}  - Rapid pace of retirements may pull forward due to weak job market - Inflation has been firming, thanks to both persistent price increases and transitory factors
[10:03] {nemo} troub, see how gmcr having trouble getting above vwap?
[10:04] {troub} yes ,127.02
[10:04] {mib_stillstanding} anyone here using lightspeed?
[10:05] {nemo} so they tested above it so far
[10:05] {nemo} which makes sense, a stock with that news will likely try to test the highs of the day
[10:05] {troub} nemo, IB showing 127.25 when GMCR was at .71??
[10:06] {nemo} yeah, depends on the package, but think of it as a magic marker line anyway
[10:06] {troub} OK now droped .64  with price at .41
[10:07] {nemo} gmcr has tested old support and stayed under, yet is basically sitting on vwap now,
[10:12] {nemo} here comes the test of the highs
[10:12] {mib_stillstanding} VWAP should not need number of bars as a parameter. correct?
[10:13] {nemo} it needs volume to calculate so as volume accrues it can be calculated
01[10:18] {@Threei} Long Setup:  IWM  .10 break
01[10:19] {@Threei}  If holds  115
[10:21] {nemo} btw...because VWAP is volume weighted, the longer the day progresses, the harder it becomes to change it's slope
01[10:23] {@Threei}  stop to .04
01[10:24] {@Threei}  1:1
01[10:24] {@Threei}  by the book from here
[10:25] {mib_stillstanding} in at .11 trying to get half off at .21
01[10:26] {@Threei}  take ,.20
[10:26] {mib_stillstanding} half off
01[10:26] {@Threei}  it was at .22 a min ago, why troubles getting out at .21?
[10:27] {mib_stillstanding} got out at .21
[10:27] {mib_stillstanding} faster than i can type
[10:27] {mib_stillstanding} stop still at .04?
01[10:28] {@Threei}  [10:24] {@Threei} by the book from here
01[10:28] {@Threei}  1:1 hit, stop .09
01[10:30] {@Threei}  to .14
01[10:31] {@Threei}  1:2
[10:32] {mib_stillstanding} out rest at .30 . smooth
[10:33] {mib_stillstanding} did not want to hold longer as HOD at .35 .sensible?
01[10:34] {@Threei}  personal preferences
[10:36] {mib_stillstanding} are you trying for 1:3,1:4
01[10:36] {@Threei}  normally, yes
[10:40] {mib_stillstanding} IWM s
[10:41] {nemo} hard to say here, you're shorting into the hole
[10:42] {mib_stillstanding} looked like bear flag
[10:42] {nemo} not saying your wrong, but you're in the middle of the range right at vwap low volume Friday at end of August
[10:43] {nemo} what does that tell you?
[10:46] {nemo} chop chop chop
[10:46] {nemo} short at resistance buy at support
[10:46] {mib_stillstanding} lost 5 cents (demo)
[10:50] {mib_stillstanding} nemo you were right
[10:50] {dino} dyn cov .31, +.80
[10:50] {nemo} broken clock moment
[10:53] {troub} excel.Dino
01[10:53] {@Threei}  wtg
[10:53] {dino} ty
[10:53] {nemo} I think VXX is long for the day
[10:55] {mib_stillstanding} keep logging off accidentally
[10:57] {mib_stillstanding} problem is when logged off you dont get to see running posts from earlier in the day. any way to fix this?
01[10:57] {@Threei}  no
[10:58] {mib_stillstanding} i just pinned the tab in firfox which should help. no 'x' to click on.
01[11:24] {@Threei} Long Setup:  FB  .50 break
01[11:24] {@Threei}  If holds  .40
[11:24] {dino} calling it a day, tee time in hour. gl all
01[11:25] {@Threei}  have a good weekend dino
01[11:25] {@Threei}  beware of golf balls
01[11:25] {@Threei}  and tennis elbow
[11:25] {troub} keep it in the fairway dino
[11:25] {dino} ty
[11:42] {mib_stillstanding} fb in at .51
01[11:53] {@Threei}  (RU) Russia strategic bombers have been conducting patrols in neutral waters such as the Norwegian and North seas recently - Russia press
01[11:53] {@Threei}  (UR) US Defense Official: Russia has up to 18,000 "combat ready" troops on its border with Ukraine, many units positioned two to ten miles from the border - CNN - Russian forces are more overt, more aggressive and out in the open - Minutes ago, NATO's Rasmussen said the alliance is seeing an alarming build-up of Russian ground and air forces stationed on the border of Ukraine; Russia continues to escalate the situation and deepen a crisis that Russia has created itself
[11:53] {mib_stillstanding} stop still at 40?
01[11:54] {@Threei}  will trail after .55 break
[11:56] {mib_stillstanding} cup and handle now?
01[11:57] {@Threei}  kind of
01[12:02] {@Threei}  let's trail to .44
01[12:02] {@Threei}  time for easy moves is over
[12:02] {mib_stillstanding} another horrible oversimplification:)
[12:03] {nemo} wish I had seen GMCR at that VWAP touch around 11
[12:03] {mib_stillstanding} nemo: no scanner for this?
[12:04] {nemo} I have nothing that pops up that info.  it didn't quite make it.  Freestockcharts has as an alert for when it touches, but not a proximity alert, which would be more helpful
[12:04] {nemo} VXX
[12:05] {nemo} can't hold below 28
01[12:10] {@Threei}  meh
[12:10] {mib_stillstanding} out at .43
[12:31] {mib_stillstanding} wtg?
01[12:31] {@Threei}  way to go
[12:32] {mib_stillstanding} waiting
01[12:32] {@Threei}  ?
01[12:32] {@Threei}  stop speaking in tongues. I have troubles understanding plain English on Fridays
01[12:33] {@Threei}  or mondays
[12:33] {mib_stillstanding} i thought when you always said wtg you meant waiting..
01[12:34] {@Threei}  no
01[12:34] {@Threei}  it's common abbreviation for way to go
[12:36] {mib_stillstanding} any more trades expected today?
01[12:37] {@Threei}  I would have to have time machine to answer that
[12:42] {mib_stillstanding} or you could take rest of day off..
01[12:59] {@Threei} Long Setup:  WMT  .90 break
01[13:00] {@Threei}  If holds  .80
[13:00] {nemo} IWM looks short below .46 if stays under .52
01[13:00] {@Threei}  (UR) NATO: Russia artillery has been used against Ukraine, there are multiple reports of direct Russia involvement in the Ukraine issue - transfer of advanced weapons from Russia to separatists have been observed
[13:03] {nemo} VXX DB
[13:11] {mib_stillstanding} wmt l .91
[13:12] {mib_stillstanding} signal off what timeframe 1 min?
01[13:12] {@Threei}  yes
[13:33] {nathan} hi gents
01[13:33] {@Threei}  hey nathan
[13:33] {nathan} how's been?
01[13:33] {@Threei}  brutally slow august, but we manage
[13:34] {nathan} yeah, i've read u everyday
01[13:35] {@Threei}  WMT starts moving
01[13:40] {@Threei}  stop to .84
[13:42] {mib_stillstanding} scary looking double top
[13:44] {nathan} wow twtr
[14:07] {mib_stillstanding} out at .84
01[14:07] {@Threei}  yup
[14:30] {nathan} have a nice weekend
01[14:30] {@Threei}  (EU) ECB chief Draghi: Reiterates stand ready to adjust policy stance further - comments at Jackson Hole - preparations for the ABS program are moving forward quickly - Council would use unconvential instruments to anchor inflation expectations - confident June measures to help demand
01[14:30] {@Threei}  take care nathan
[14:38] {troub} good weekend all
01[14:38] {@Threei}  take care troub
[14:42] {mib_stillstanding} bye
[15:12] {nemo} market doesn't care about Ukraine, gap up Monday
01[15:12] {@Threei}  unless...
[15:15] {nemo} market has a date with 200
[15:17] {nemo} IWM Weekly R2 at .70
[15:26] {nemo} VXX
[15:29] {nemo} no fear
01[15:30] {@Threei}  some
01[15:30] {@Threei}  not much
01[15:35] {@Threei}  OK guys, let's have a good weekend
[15:35] {nemo} Nasdrovya
01[15:35] {@Threei}  just a week or two more of this swamp

Aug 21 2014

Back and forth, 'round and 'round. Meaningless day, slightly negative. August can't end soon enough.

Session Time: Thu Aug 21 00:00:00 2014
[09:02] {dino} gm
01[09:02] {@Threei}  morning dino
01[09:10] {@Threei}  video is in russian but you won't need translation: https://www.facebook.com/zuskin/posts/10152676612548552
[09:18] {troub} good morning
01[09:19] {@Threei}  troub :)
[09:19] {mib_stillstanding} ditto
01[09:19] {@Threei}  mib :)
01[09:27] {@Threei}  Upside:
01[09:27] {@Threei}  -TKMR +6% (continued Ebola momentum)
01[09:27] {@Threei}  -JRJC +5% (continued momentum)
01[09:27] {@Threei}  -HRL +4.2% (earnings)
01[09:27] {@Threei}  -AUXL +3.8% (positive Phase 2a study of CCH in patients with cellulite)
01[09:27] {@Threei}  -SMTC +3.8% (earnings)
01[09:27] {@Threei}  -CMG +2.5% (positive broker commentary)
01[09:27] {@Threei}  -AZN +2.2% (part of new partnership to redefine companion diagnostics for oncology)
01[09:28] {@Threei}  -PLCE +5% (earnings)
01[09:28] {@Threei}  Downside:
01[09:28] {@Threei}  -KIN -30% (top-line data on CereKin in dogs w/osteoarthritis shows failure to meet primary endpoint)
01[09:28] {@Threei}  -WUBA -9% (earnings)
01[09:28] {@Threei}  -SHLD -2.5% (earnings)
01[09:28] {@Threei}  -DG -2% (rejection of offer based on anti-trust concerns)
01[09:28] {@Threei}  -GES -4% (exec departure)
01[09:32] {@Threei} Short Setup: FB  .10 break
01[09:32] {@Threei}  If holds  .20
01[09:35] {@Threei}  GOGO Hearing strength attributed to takeover chatterVerizon rumored to be interested
01[09:36] {@Threei}  trail to .16
01[09:36] {@Threei}  half out
01[09:37] {@Threei}  to .11
[09:43] {ese} du du du du....sitin watching the market trade away.......du du du...and forgot to sign in
[09:43] {ese} mornin
01[09:43] {@Threei}  ese :)
01[09:44] {@Threei}  *(US) AUG PRELIMINARY MARKIT MANUFACTURING PMI: 58 V 55.7E
01[09:47] {@Threei} Short Setup: FV  .05 break
01[09:47] {@Threei}  If holds  .15
[09:47] {nemo} ?
01[09:47] {@Threei}  FB
01[09:48] {@Threei}  crap... 1:1
01[09:48] {@Threei}  sorry for mistype
01[09:51] {@Threei}  1:2... shoot me now
01[09:57] {@Threei} Long Setup:  TWTR  .30 break
01[09:57] {@Threei}  If holds  .20
01[09:57] {@Threei}  with early trail
01[09:59] {@Threei}  *(US) JULY EXISTING HOME SALES: 5.15M V 5.02ME
01[09:59] {@Threei}  US) AUG PHILADELPHIA FED BUSINESS OUTLOOK: 28 V 19.7E
01[09:59] {@Threei}  *(US) JULY LEADING INDEX: 0.9% V 0.6%E
01[10:00] {@Threei}  (EU) EURO ZONE AUG ADVANCE CONSUMER CONFIDENCE: -10 V -9.1E
01[10:00] {@Threei}  mixed data
01[10:00] {@Threei}  stop to .24
01[10:02] {@Threei}  meh
01[10:03] {@Threei}  market decided to die suddenly
[10:06] {mib_stillstanding} time to short something
01[10:06] {@Threei}  into bounce
01[10:06] {@Threei}  not here
01[10:11] {@Threei} Long Setup:  FB  .70 break
01[10:11] {@Threei}  If holds  .63
01[10:13] {@Threei}  something's happening behind the scenes
[10:13] {mib_stillstanding} trend is your friend?
01[10:13] {@Threei}  first time in a good while I see fear in the market
01[10:14] {@Threei}  1:1
01[10:14] {@Threei}  mib... think generic sayings known to anyone who can read will be enough to guide you in the markets? :)
[10:15] {mib_stillstanding} move stop in fb?
01[10:15] {@Threei}  partial and move stop, of course
01[10:15] {@Threei}  that's the standard procedure
01[10:16] {@Threei}  you've read it, right?
[10:17] {mib_stillstanding} read what?
01[10:18] {@Threei}  instructions how to follow the calls?
[10:19] {mib_stillstanding} was that in the previous link you sent me?
01[10:19] {@Threei}  http://www.realitytrader.com/tradingroom/#instructions
[10:20] {mib_stillstanding} thought you posted stops as you moved them
01[10:20] {@Threei}  ok... have you read this?
01[10:20] {@Threei}  that's standard procedure that you can follow without any reminders from me
[10:21] {mib_stillstanding} reading now.
01[10:21] {@Threei}  why would I waste time typing the same thing over and over?
01[10:21] {@Threei}  now,
01[10:21] {@Threei}  there are deviations from SOP,
01[10:21] {@Threei}  in those cases I do post trails or partials
01[10:21] {@Threei}  that are not understood by default.
01[10:22] {@Threei}  tell me, d you take this seriously or just spednign time here out of boredom?
[10:23] {mib_stillstanding} serious but slow...
[10:23] {mib_stillstanding} IQ and waistsize similiar
[10:27] {mib_stillstanding} if filled on entry with 2 cents slippage still keep original target or adjust? I assume no adjustment.
[10:27] {nemo} no adjustment
[10:27] {ese} whats tweaking your thought process vad re some underlying fear.......what are you sensing.....i've been too absent this summer so am not feeling it
[10:29] {dino} lci sm l .30
01[10:29] {@Threei}  this market drop ese... was put of character
01[10:29] {@Threei}  out
[10:29] {dino} ampe hl l .76
[10:30] {dino} data sm l .88
[10:30] {ese} ya can see that.....lokin like a double top forming
[10:33] {dino} lci stop to b/e
[10:33] {dino} ampe stop =lod break
[10:33] {dino} data stop .58
[10:37] {dino} lci to .60
[10:37] {nemo} FB looks short here
[10:38] {dino} out lci .58, +.28
[10:51] {nemo} fb
[10:55] {mib_stillstanding} re your remark on 10:30 --- is anything out of character in the market? anything can happen at any time.
01[10:56] {@Threei}  market acts in a certain way for months; then makes a move against this way with no news. I'd call it "out of character"
01[10:57] {@Threei} Long Setup:  TWTR  .05 break
01[10:57] {@Threei}  If holds  .95
01[10:59] {@Threei}  Invalidated
[10:59] {mib_stillstanding} twtr invalidated
[10:59] {nemo} EBAY battle at 56
[10:59] {mib_stillstanding} told you i was slow;)
01[11:00] {@Threei}  well, seem to be catching up :)
[11:01] {nemo} the shorts win
01[11:01] {@Threei}  good read FB
[11:01] {nemo} this should determine it here
[11:02] {nemo} EBAY that is
[11:02] {nemo} indexes looking long but not much momentum
[11:04] {dino} lci sm l .30
01[11:06] {@Threei} Long Setup:  TWTR  45 break
01[11:06] {@Threei}  If holds  .94
01[11:06] {@Threei}  let's try aggressive entry
01[11:09] {@Threei}  .05 break will make or, ummm, break this trade
01[11:10] {@Threei}  Poroshenko says will urge rebel withdrawal at Minsk meeting with Putin
01[11:10] {@Threei}  Putin: I in turn will urge Porosheko withdrawal from Ukraine
[11:11] {mib_stillstanding} scary because inices at high
[11:11] {mib_stillstanding} indices
01[11:11] {@Threei}  I also wanted to urge Obama withdrawal from USA but then thought ISA should not be that lucky
01[11:11] {@Threei}  why is it scary?
[11:12] {mib_stillstanding} may not go higher than previous hihg. sideways day. would be nice if index a little lower.
01[11:13] {@Threei}  how do you know it's going to be sideways day?
01[11:13] {@Threei}  and not break of the high and move higher?
01[11:13] {@Threei}  half out TWTR
01[11:14] {@Threei}  stop .94 for now
01[11:15] {@Threei}  to .99 now
01[11:41] {@Threei} Short Setup: FB  .50 break
01[11:41] {@Threei}  If holds  .60
01[11:44] {@Threei}  Invalidated
01[11:44] {@Threei}  but on radar
[11:48] {dino} another slow august day
01[11:48] {@Threei}  yes
01[11:48] {@Threei}  either events start developing, or we get traditional sept activity pickup and then perfect tradingoctober
01[11:52] {@Threei}  FB reestablished
[12:03] {mib_stillstanding} fb short now. correct?
01[12:03] {@Threei}  yes
01[12:07] {@Threei}  stop to .56
01[12:09] {@Threei}  should have covered at .42... expectations are diminished
[12:09] {dino} lci stop .00, -.30
01[12:09] {@Threei}  slept through it
01[12:14] {@Threei}  meh
[12:14] {mib_stillstanding} FB formed a minor bull flag on 1 min. why not take b/o of it?
01[12:15] {@Threei}  where?
[12:16] {mib_stillstanding} between 12:07 and 12:11 74.42 74.52
01[12:18] {@Threei}  that would be a valid trade
[12:24] {dino} lci sm l .01
[12:26] {ese} off to a rehearsal..........Blues Bash as a matter of fact....vad you gonna come.....were on Monday Sept 1...4 o clock ish......
[12:27] {dino} enjoy eses
01[12:27] {@Threei}  take care ese, don't know yet
01[12:27] {@Threei}  where?
01[12:27] {@Threei}  ship point?
[12:29] {ese} yes
01[12:29] {@Threei} Long Setup:  TWTR  45 break
01[12:29] {@Threei}  If holds  .95
[12:32] {nemo} oy NSC
[12:34] {nemo} was there news EBAY?
[12:36] {nemo} FB coming into resistance
[12:36] {dino} all i see is possible paypal spinoff
[12:36] {mib_stillstanding} TWTR inv
[12:37] {nemo} a momentary violation may leave it in tact, arguably it drops .94, forget it
[12:38] {mib_stillstanding} discretion...
01[12:38] {@Threei}  yeah, still valid
[12:38] {nemo} EBAY loos short under 56
[12:40] {nemo} damn
[12:40] {mib_stillstanding} pot bull flag.
[12:40] {nemo} damn
[12:40] {nemo} damn
[12:41] {nemo} damn
[12:41] {nemo} Vad...hanky please
[12:42] {nemo} Vad?
01[12:42] {@Threei}  hmmm
01[12:42] {@Threei}  can't find it
[12:42] {nemo} piz....
[12:43] {mib_stillstanding} TWTR invalidated?
01[12:44] {@Threei}  on watch still
01[12:44] {@Threei}  not sure
01[12:44] {@Threei}  will call valididty if it reestablishes
[12:45] {nemo} EU rules against powerful vacuum cleaners, bans models that use above 1600 watts. Saving the planet from climate change.
01[12:49] {@Threei}  valid again
[12:49] {mib_stillstanding} what do you call someone who can suck a golf ball through 10 feet of garden hose?
[12:53] {nemo} not here mib
[12:59] {nemo} might be boredom, but the indexes look like maybe a pull in coming
[13:02] {nemo} need the finnies to break, but IWM weakest
[13:02] {mib_stillstanding} what does 'pull in' mean?
[13:03] {nemo} pull back
[13:03] {nemo} drop
[13:03] {nemo} fall
[13:03] {nemo} sorry, English a second language
[13:03] {mib_stillstanding} could have meant 'mean reversion'
[13:04] {nemo} we all know I'm mean and revert often
[13:06] {mib_stillstanding} in twtr at 45.03
[13:06] {mib_stillstanding} long
01[13:07] {@Threei}  a bit high entry
01[13:08] {@Threei}  .01 was available
[13:09] {mib_stillstanding} i have to enter manually and not on stop. i'm on demo lightspeed.
[13:10] {mib_stillstanding} do you keep your tartegt and stop orders open and cancel as appropriate? or some type of OCO?
01[13:10] {@Threei}  manual is the best way
[13:13] {mib_stillstanding} where stop on twtr?
01[13:13] {@Threei}  .94
[13:15] {mib_stillstanding} out twtr
[13:15] {mib_stillstanding} 3 cents profit
[13:16] {mib_stillstanding} at 12:50 big red volume spike. yet long still taken. ???
01[13:17] {@Threei}  ??
01[13:18] {@Threei}  how is it relevant to anything?
[13:18] {nemo} twtr right up against vwap
[13:19] {mib_stillstanding} twtr. i assumed a down bar with large volume would be a sign of weakness. yet we went long shortly afterwards.
01[13:19] {@Threei}  no
[13:19] {nemo} one downbar does not a trend make
01[13:19] {@Threei}  this is horrible oversimplification
01[13:19] {@Threei}  that one bar could have been a low block for instance, which is bullish sign
01[13:20] {@Threei}  or it could have been selling exhaustion, kind of mini-capitulation
[13:22] {mib_stillstanding} exhausion usually found at end of trend . this was in middle of a small uptrend.
01[13:23] {@Threei}  I gove up. You know everything
01[13:23] {@Threei}  give
[13:24] {mib_stillstanding} dont "know" anything. just expressing my thoughts.
01[13:26] {@Threei}  stop to .99
[13:57] {mib_stillstanding} any comments about 60 second binary options?
01[13:58] {@Threei}  yes: what the duece is that?
[14:00] {mib_stillstanding} probably a ripoff.you bet any amount that the price will be above current price in x seconds or minutes. If you win you get back about 1.7 or 1.8. if you lose you get back either 0 or .1
01[14:01] {@Threei}  lol
01[14:01] {@Threei}  here is comment:
01[14:01] {@Threei}  forget this fraudulent crap. learn to make money old-fashioned way
[14:02] {nemo}  what? go into politics and steal it?
[14:02] {mib_stillstanding} reason i got out of TWTR was market seems to be going nowhere. maybe does not even pay to trade in low volume sideways day.
[14:03] {mib_stillstanding} or fade breakouts. I'm sure i'll catch hell for this last comment.
01[14:03] {@Threei}  you are wrong, this is one correct comment
[14:05] {mib_stillstanding} what is min target you would trade for . 5 cents?
[14:06] {mib_stillstanding} $50 profit and $10 commision?
01[14:07] {@Threei}  10
01[14:07] {@Threei}  if 5 cents, I will tarde larger shares
[14:15] {mib_stillstanding} makes sense
[14:17] {nemo} are we ready for the spy run to 200?
[14:19] {mib_stillstanding} depends on 3I
[14:20] {mib_stillstanding} only goldman sachs and morgan stanley know!!
[14:20] {mib_stillstanding} nobody knows anything..
[14:20] {mib_stillstanding} if signal comes we take..
01[14:46] {@Threei}  [JRJC] Citron Research issues cautious tweet about the company - Citron tweets: "$JRJC a product of sloppy reporters saying this is China's first online trading. Read before you invest people. Complete nonsense"
01[14:49] {@Threei} Long Setup:  EBAY  .95 break
01[14:50] {@Threei}  If holds  .85
01[14:52] {@Threei}  1:1
01[14:52] {@Threei}  nice and easy
01[15:17] {@Threei} Long Setup:  GB  .60 break
01[15:17] {@Threei} Long Setup:  FB  .60 break
01[15:17] {@Threei}  If holds  .55
01[15:25] {@Threei}  valid
01[15:25] {@Threei}  not anymore
01[15:31] {@Threei} Long Setup:  IWM  .40 break
01[15:31] {@Threei}  .c .34
01[15:31] {@Threei}  If holds  .34
01[15:36] {@Threei}  still valid, although barely
01[15:36] {@Threei}  time's running out
01[15:40] {@Threei}  invalidated
01[15:42] {@Threei}  last atempt
01[15:42] {@Threei} Long Setup:  IWM  .35 break
01[15:43] {@Threei}  If holds  .30
01[15:44] {@Threei}  [NQ] Muddy Waters: According to probesreporter.com, NQ is facing an "undisclosed SEC investigation"
[15:46] {dino} old news
01[15:48] {@Threei}  nah
01[15:48] {@Threei}  OK, wrapping it up
01[15:48] {@Threei}  thank you all, have a good evening
01[15:48] {@Threei}  see you tomorrow
[15:49] {dino} out lci .20, +.19
[15:50] {dino} gn all

Aug 20 2014

3 nice wins, including 1:3 and 1:2, and two smallish stops, 5 and 8 cents. Positive for the day, which is not a small feat in and of itself this August.

Session Time: Wed Aug 20 00:00:00 2014

[09:13] {dino} gm
01[09:13] {@Threei}  morning dino
[09:15] {troub} good morning
01[09:15] {@Threei}  troub :)
[09:24] {ese} morning ladies and gents am back.......
01[09:24] {@Threei}  hey ese
[09:24] {ese} anything new and exciting while i was gone to the mainland
01[09:24] {@Threei}  quiet august
[09:25] {nemo} Fed Minutes day
[09:25] {nemo} and I'm out of booze
[09:25] {nemo} bunny has abandoned me
[09:25] {ese}  seems like it......for the few times times i've been around anyway
[09:25] {nemo} she's getting old...definitely slowing down
[09:27] {ese} I can identify
01[09:29] {@Threei} Long Setup:  FB  75 break
01[09:29] {@Threei}  If holds  .90
01[09:30] {@Threei}  Invalidated
[09:30] {nemo} sounds like my life
01[09:32] {@Threei} Long Setup:  FB  .90 break
01[09:32] {@Threei}  If holds  .80
01[09:33] {@Threei}  1:1
01[09:34] {@Threei} Long Setup:  IWM  .60 break
01[09:35] {@Threei}  If holds  .55
01[09:35] {@Threei}  1:1
01[09:36] {@Threei}  1:2
01[09:38] {@Threei}  1:3
01[09:38] {@Threei}  out
01[09:43] {@Threei} Short Setup: FB  75 break
01[09:43] {@Threei}  If holds  .10
01[09:46] {@Threei}  trail to .06
[09:46] {dino} tasr hl s .57
01[09:50] {@Threei}  Upside:
01[09:50] {@Threei}  -FOLD +18% (Phase 3 data from Fabry Monotherapy study 012)
01[09:50] {@Threei}  -DGLY +12% (unrest in Ferguson, MO spurring interest in body-mounted cameras & devices)
01[09:50] {@Threei}  -AEO +11% (earnings)
01[09:50] {@Threei}  -PLAB +4.7% (earnings & Q4 guidance)
01[09:50] {@Threei}  -HAIN +4% (earnings)
01[09:50] {@Threei}  -FCS +4% (possible sector momentum from Infineon rumors of acquiring a US chip manufacturer)
01[09:50] {@Threei}  Downside:
01[09:50] {@Threei}  -RGSE -15% (earnings & share offer)
01[09:50] {@Threei}  -HTZ -13% (expects to be well below low-end of FY14 guidance, rental weakness)
01[09:50] {@Threei}  -TEDU -9% (earnings)
01[09:50] {@Threei}  -YOKU -7% (earnings)
01[09:50] {@Threei}  -JRJC -6.5% (financial blog cautious comments after recent upward move)
01[09:50] {@Threei}  -JASO -4.5% (earnings)
[09:53] {mib_stillstanding} dino : your comments a bit cryptic. does it mean hold long stop at .57?
[09:53] {dino} no
[09:53] {nemo} I don't find it cryptic at all
01[09:54] {@Threei}  s = short
[09:54] {dino} hl=500 sh, s=short, .57 my entry
[09:56] {mib_stillstanding} you are short 500 tasr at 15.57? or is it a signal to get in at .57?
[09:56] {dino} tasr stop/cov ..86, -.29
[09:57] {mib_stillstanding} never mind
[09:57] {dino} i was short tasr at .57. i only post entries/exits
[09:57] {nemo} that's where he got in mib.  Dino posts after entry
[09:58] {dino} if i'm not in and post something, i will say trigger. but don't follow me, my style is a bit different
[09:58] {nemo} yeah, Dino likes Rorschach test type charts
[09:59] {dino} ron is about the only one who trades similar
[09:59] {dino} msg spike
[09:59] {nemo} things should get quiet soon
[09:59] {nemo} or quieter
[10:00] {nemo} adbe
[10:00] {nemo} saw it too late
[10:02] {dino} msg sm s .31
[10:04] {dino} cov msg .12, +.29
01[10:04] {@Threei}  wtg
[10:06] {dino} ty
01[10:08] {@Threei}  half out FB
01[10:08] {@Threei}  stop to .01
[10:09] {mib_stillstanding} how do you find stocks to trade during the day?
01[10:10] {@Threei}  scanner and list of usual suspects
[10:12] {dino} tasr rinsed
[10:12] {nemo} MNST
[10:12] {dino} scanners
[10:12] {nemo} more your style dino
[10:13] {mib_stillstanding} what scanners do you use and what do you search for?
01[10:13] {@Threei}  1:2
01[10:13] {@Threei}  http://www.realitytrader.com/iscan
[10:15] {nemo} algo very inactive...not a surprise for Fed minutes day
01[10:16] {@Threei}  1:3 and 1:2 so far, plus opening scalp - no complaints
[10:16] {nemo} aapl
[10:16] {nemo} sorry
[10:28] {nemo} CMI
[10:33] {nemo} DAX doing quite the recovery
01[10:57] {@Threei}  FCEL Financial blog makes cautious comments
01[11:06] {@Threei} Long Setup:  IWM  .05 break
01[11:06] {@Threei}  If holds  .95
[11:16] {nemo} tied the all time clsoing high in SPY
[11:16] {nemo} .82 the all time high
[11:18] {nemo} I lied 199.06
01[11:24] {@Threei}  no go
01[11:24] {@Threei}  breakouts are over for today
[11:40] {dino} smtc drop
[11:41] {mib_stillstanding} wont IWM follow spy and qqq to make new highs?
01[11:42] {@Threei}  it will if they do
[11:44] {mib_stillstanding} they already have
01[11:46] {@Threei}  superimpose SPY and IWM charts
01[11:46] {@Threei}  see whether they match
[11:48] {mib_stillstanding} not exactly
01[11:48] {@Threei}  right
01[11:48] {@Threei}  in general, they do,
01[11:48] {@Threei}  tick by tick, no
01[11:48] {@Threei}  that's your answer
[11:49] {mib_stillstanding} volume very low in iwm. why not trade spy or qqq instead?
01[11:49] {@Threei}  11 million shares?
01[11:49] {@Threei}  low?
01[11:50] {@Threei}  man, you have interesting standards :)
[11:50] {nemo} yeah, wow
01[11:51] {@Threei}  my guess is, your 1000 shares order will have no troubles to get executed, and won't move IWM by itself :)
[11:52] {mib_stillstanding} sorry looked at wrong chart.
[11:53] {mib_stillstanding} what timefame charts do you use?
[11:55] {mib_stillstanding} i used to trade stock index  futures but want to switch to stocks so that I can use the indexes SPY,QQQ,IWM as a leading indicator. does this make any sense?
[11:56] {nemo} to me, completely...
01[11:57] {@Threei}  1 min and daily
01[11:57] {@Threei}  and yes, that's sensible approach
[11:58] {mib_stillstanding} but if trading IWM , what leading indicator can you use? IWM itself should be the leading indicator??:/
01[11:58] {@Threei}  SPY
01[12:01] {@Threei}  (US) President Obama plans statement at 1245ET on murder of journalist James Foley by ISIS
01[12:01] {@Threei}  I assume he will condemn it
01[12:02] {@Threei}  ) Israeli Army reports explosions have been heard in Tel Aviv
[12:02] {nemo} I suggest looking at IWM SPY QQQ and FAS at the same time watching how they interact
01[12:03] {@Threei}  fess up nemo, original version of this message did include couple porno sites which you erased before hitting enter?
[12:03] {nemo} huh?
[12:03] {nemo} what message?
01[12:04] {@Threei}  nevermind... if you don't remember that you typed something 30 sec ago...
01[12:04] {@Threei} Short Setup: FB  .75 break
[12:04] {nemo} wow, you must be bored to make that connection
01[12:04] {@Threei}  If holds  .80
01[12:04] {@Threei}  just a scalp
01[12:05] {@Threei}  of course I am
[12:05] {nemo} I like taking scalps, but you need the right balance between the length of the blade and flexibility
01[12:06] {@Threei}  hmmm
[12:07] {nemo} btw...I've found it easier to start closer to the base of the neck and then move towards the top of the head than to start at the forhead
01[12:08] {@Threei}  "lessons from your favorite barber"
[12:09] {mib_stillstanding} Fb went other way . what happened?
[12:10] {nemo} life
01[12:10] {@Threei}  just invalidated setup
01[12:10] {@Threei}  what do you mean "what happened"?
[12:10] {dino} ask talking heads tonight, they will tell you
01[12:11] {@Threei}  there is no necessity for something meaningful to happen to make a stock go up or down a few cents
[12:11] {mib_stillstanding} kidding
[12:12] {dino} :)
[12:17] {nemo} hey mib, this is what I'm watching: http://www.freestockcharts.com?emailChartID=2e189faa-ddef-4141-b841-c20b731c7d26
[12:17] {nemo} vxx strong today
[12:20] {nemo} mmmhhhh, some redundancy in that link not on my charts
[12:21] {mib_stillstanding} nemo: is this realtime? why not use charts from your broker?
[12:23] {mib_stillstanding} what criteria do you use in your scanners ? new highs/lows? most active? confidential?
[12:24] {dino} top 10 hi/lows; .07 movers
01[12:24] {@Threei}  got my proprietary scans in IScan
[12:24] {dino} top 10 % movers up/down too
[12:26] {mib_stillstanding} do you share proprietary scans for the right price?
01[12:26] {@Threei}  those are my standard setups, and they are included in scanner
01[12:26] {@Threei}  and I am pretty sure I share them for the wrong price
[12:27] {nemo} I have charts from the broker, it's just that it's a very nice way to gather all the info, and fairly accurately, all in one place
[12:27] {mib_stillstanding} nemo: real time ?
[12:27] {dino} i use broker charts and free stock charts
[12:28] {nemo} they derive data from bats, and I also have my realtime trading platform charts
[12:28] {dino} scaners are a pesonal edge thing , imo
[12:28] {mib_stillstanding} i thought freestockcharts were delayed?
01[12:28] {@Threei}  no, it's real time
[12:28] {nemo} no, they pipe bats volume and then apply algo's
[12:28] {dino} bats real time it says
[12:28] {nemo} I compare it with my platform charts
[12:30] {mib_stillstanding} i think lightspeed comes with free access to trade ideas scanner
[12:30] {mib_stillstanding} "close enough for govt work"
01[12:31] {@Threei}  that's pretty generous of them
[12:31] {nemo} yep
01[12:31] {@Threei}  look closely in commissions and software fees, to make sure scanner is not built in in a sneaky way
[12:32] {mib_stillstanding} what kind of world are we living in?
[12:32] {nemo} Nature is unkind, it treats the myriad things like strawdogs
01[12:32] {@Threei}  screwed up badly one
01[12:32] {@Threei}  in case you haven't noticed
[12:33] {nemo} thank GOD for alcohol
01[12:33] {@Threei}  but nemo... alcohol doesn't help find answers
[12:33] {mib_stillstanding} drugs are cleaner
01[12:33] {@Threei}  it merely helps forget the questions
[12:33] {nemo} the hallucinogens, yes
[12:33] {mib_stillstanding} or antianxiety ones
[12:34] {nemo} debatable...
[12:34] {nemo} atavan is morphine based
[12:34] {nemo} that'll leave you stopped up too
[12:35] {nemo} so many drugs you can't drink with...that will just never do
[12:35] {nemo} I hang around with Russians
[12:35] {nemo} I'd be a frickin' pariah
[12:35] {nemo} something is afoot, the vxx keeps moving up
[12:36] {nemo} My favorite Chicken Little:  http://goo.gl/1MkG02
[12:52] {nemo} VXX looking short now
[12:53] {nemo} I liked Qs
[13:02] {nemo} VXX is coming in
[13:03] {nemo} http://goo.gl/alrl3m
[13:24] {nemo} so any bets that no matter what gets published we break all time highs...it's only about .18 off the current high
01[13:30] {@Threei}  very likely
01[13:31] {@Threei}  I really doubt we will hear something earthshaking
[13:40] {dino} scolding
01[13:41] {@Threei}  ?
[13:43] {dino} obama classic scolding
[13:44] {dino} oh, you guys talking fed minutes?
01[13:44] {@Threei}  yes :)
01[13:44] {@Threei}  but yea... was there "whispering obama mode"?
[13:47] {dino} 07 red
01[13:59] {@Threei}  (IQ) Pentagon is looking at plans to send a small number of additional troops to Iraq; total number would be fewer than 300, mainly to provide security for US installations in Baghdad
[14:00] {nemo} to fly armed drones
01[14:00] {@Threei}  *(US) MINUTES OF THE JULY 29-30 FOMC MEETING: Felt labor market had been faster than expected, conditions noticeably closer to normal
[14:01] {dino} tbt l .27
[14:03] {dino} out tbt .28
[14:03] {dino} f#ck
01[14:04] {@Threei}  - most participants agreed to end portfolio reinvestment of securities following the first rate hike
01[14:05] {@Threei}  After the discussion, all members but one voted to maintain the Committee's target range for the federal funds rate and to reiterate its forward guidance on how it would assess the appropriate timing of the first increase in the target rate and the anticipated behavior of the federal funds rate after it is raised.
[14:05] {nemo} they're getting read to pull the punch bowl
01[14:09] {@Threei}  well, I look at it this way
01[14:09] {@Threei}  for years, working theory was:
01[14:09] {@Threei}  market goes up almost exclusively on Fed's injections,
01[14:10] {@Threei}  and economy is limping forward mostly thanks to Fed's support.
01[14:10] {@Threei}  Withdraw it, both collapse.
01[14:10] {@Threei}  Now we are going to have a chance to test the theory
[14:14] {dino} going to be a long time before they raise, europe is falling apart again
[14:14] {dino} that will slow demand here
[14:15] {dino} imo of course, but figure mid 2015 or later
01[14:15] {@Threei}  I concur
[14:16] {nemo} next year is the worst year for the market in the second term of a president
01[14:16] {@Threei}  none of the measures cured the problem
01[14:16] {@Threei}  it was merely papered over
01[14:16] {@Threei}  and it goes for EU at double rate
[14:17] {dino} problem is govt reg and govt spending on b.s. which creates a welfare class. only fix is as in atlas shrugged..."get out of the way"
[14:18] {nemo} "modern" economic systems with their efficiency allocations allow the human species to expand beyond the "normal" carrying capacity of the environment...sooner or later...that music stops
01[14:19] {@Threei}  and nemo starts celebrating
01[14:19] {@Threei}  or, volcano helps accelerate the process
[14:20] {nemo} stocking up on the right condiments and marinades
[14:21] {dino} what, no beer!
[14:21] {nemo} gotta' be able to get the ingredients
[14:21] {nemo} there'll be plenty of meat available for a while
[14:25] {dino} vhc drop
[14:35] {mib_stillstanding} scanners not picking up anything to trade?
[14:35] {nemo} algo basically dead also
01[14:36] {@Threei}  they do, I just don't see it as reliable signals yet
01[14:36] {@Threei}  right after announcement shock
01[14:36] {@Threei}  after next pullback will get interested in longs
[14:37] {dino} missed vhc, was too quick for entry
01[14:48] {@Threei}  crap
01[14:48] {@Threei}  was looking at .70 IWM for entry
[14:49] {nemo} all time highs?
[14:49] {dino} not the comp
01[14:49] {@Threei}  I believe so
01[14:50] {@Threei}  ugh
01[14:50] {@Threei}  how did I miss IWM
[14:50] {nemo} don't feel bad the bottom was the Monthly Pivot, and I hesitated
[14:51] {dino} leju spike
01[14:53] {@Threei}  crrrrap
01[14:53] {@Threei}  lol
[15:02] {nemo} well, there's the tie
[15:08] {nemo} there we go
[15:09] {nemo} no overhead resistance now
[15:11] {mib_stillstanding} now everything in sync. look for laggers and buy . no?
01[15:12] {@Threei}  yes
01[15:12] {@Threei}  they just don't oull back so far
01[15:13] {@Threei}  pull
01[15:13] {@Threei}  and I am not keen on buying breakouts
01[15:13] {@Threei}  not in this market
[15:16] {mib_stillstanding} not even a double bottom?
01[15:16] {@Threei}  ?
01[15:17] {@Threei}  double bottom I'd buy
[15:17] {nemo} that's buying support to us mib
01[15:17] {@Threei}  but it's not a breakout :)
[15:17] {nemo} what does "mib" stand for?
[15:17] {dino} men in black
[15:18] {nemo} dino made a funny
[15:18] {dino} every now and then
[15:18] {nemo} ................not
[15:18] {mib_stillstanding} its a breakout on some bar after the second bottom. no?
01[15:18] {@Threei}  ummm
[15:19] {nemo} little endian or big endian
01[15:19] {@Threei}  traditional terminologyis: breakout is break of the high, day or otherwidse
01[15:19] {@Threei}  and is trend continuation setup
01[15:20] {@Threei}  souble bottom is trend reversal setup
01[15:20] {@Threei}  double
01[15:20] {@Threei}  thus, two are very different
[15:21] {dino} nemo, since not much going on, opinions on kors and sndk. gut says more up
[15:22] {mib_stillstanding} can a double bottom occur in an uptrend? so its a continuation move?
[15:22] {nemo} sndk likely but at consolidation...we're heading into tech strong season....KORS, less comfortable about that, but will likely fill the daily gap
01[15:22] {@Threei}  it can as a pullback
01[15:23] {@Threei}  but you are confusing different things
01[15:23] {@Threei}  and it's all really irrelevant
[15:23] {nemo} don't talk about Les like that
[15:23] {dino} kors 85.86 area gap think, sndk 100 magnet
01[15:24] {@Threei}  if it's a trend, then double bottom will merely help you find pullback entry, which is merely aggressive type of entry for trend continuation
01[15:24] {@Threei}  so it's a reversal in lower time frame for trend continuation in higher one
01[15:25] {@Threei}  makes sense?
[15:25] {mib_stillstanding} yes
01[15:26] {@Threei}  possible double top in SPY
01[15:27] {@Threei} Long Setup:  VXX  .83 break
01[15:27] {@Threei}  If holds  .75
01[15:33] {@Threei}  meh
[15:41] {nemo} dino, HTZ
[15:41] {nemo} how'd you miss that
[15:41] {dino} snoozing
[15:42] {nemo} that's the definition of a bull market...company totally blows results and forward guidance and gets bought back up like that
[15:43] {nemo} ahhhh..Carl Icahn @Carl_C_Icahn
[15:43] {dino} yeah, thats a short
[15:43] {nemo} We just filed a 13D on The Hertz Corporation ($HTZ).
[15:44] {dino} ahh ican
[15:44] {nemo} so now we're spitting distance from 200...by jobs on Friday
[15:49] {nemo} well index short setups but all time highs and this late....very iffy
01[15:49] {@Threei}  yeah
01[15:54] {@Threei}  OK guys, thank you all
01[15:54] {@Threei}  have a good evening, see you tomorrow
[15:59] {dino} gn all

Aug 19 2014

In this quiet low volume market every 1:3 is precious

Chart's courtesy of the brokerage

Low activity day, merely 3 trades, but all three are wins. 

Session Time: Tue Aug 19 00:00:00 2014
[09:04] {dino} gm
01[09:04] {@Threei}  morning dino
[09:09] {RonS} gm...met the second billionare in my life yesterday...thought it was interesting that both are Iranian immigrants that came here as a result of the fall of the Shah in the late '70's...David Merage founded Hot Pockets with his brother, later sold it to Nestle for $2 billion, Bahram Akradi founded and is CEO of Lifetime Fitness...
01[09:09] {@Threei}  ron :)
[09:10] {dino} hanging w/the big wigs
01[09:10] {@Threei}  how are they in person?
[09:11] {RonS} real nice guys...thinking it is easy to be with that kind of dough...
01[09:11] {@Threei}  :)
[09:11] {troub} good morning
01[09:14] {@Threei}  troub :)
01[09:17] {@Threei}  The Icelandic Meteorology Office is closely monitoring Bárðarbunga, a volcano more than 2,000 meters in elevation, located beneath the country’s largest glacier. If lava hits glacier ice, it'll unleash an explosion that'll spew ash and steam high in the atmosphere. Aviation code now at orange.
[09:19] {RonS} was gonna say "hot damn" but now thinking more like cold dam...
[09:20] {RonS} this Lifetime facility is similar to the one 3 blocks from my house (this had better pictures)...http://www.yelp.com/biz/life-time-fitness-parker-2
01[09:21] {@Threei}  nice
[09:21] {RonS} ...the one by my also has an adjacent 20 court (10 inside, 10 outside) tennis complex...they spent $50 million on this entire facility
[09:23] {RonS} said thanks to Mr. Akradi for building it...had not been into a gym in 40 years...he said 50% of the membership nationally had never joined any other kind of club...interesting
[09:24] {dino} neat
01[09:28] {@Threei}  nemo, your dreams might be close to realization... google Bárðarbunga
[09:31] {nemo} Yeah, getting ready to eat the neighbors
01[09:33] {@Threei} Short Setup: FB  .10 break
01[09:33] {@Threei}  If holds  .20
[09:33] {nemo} love how aapl keeps flirting with 100
01[09:33] {@Threei}  1:1
01[09:35] {@Threei} Long Setup:  TWTR  .15 break
01[09:35] {@Threei}  If holds  .05
01[09:37] {@Threei}  to .09
01[09:38] {@Threei}  1:1
01[09:38] {@Threei}  Upside:
01[09:38] {@Threei}  -GSIT +24% (earnings)
01[09:38] {@Threei}  -URBN +1.0% (earnings)
01[09:38] {@Threei}  -AMWD +21% (earnings)
01[09:38] {@Threei}  -HD +3.9% (earnings)
01[09:38] {@Threei}  -DKS +5.4% (earnings)
01[09:38] {@Threei}  -TJX +4.5% (earnings)
01[09:39] {@Threei}  -ARO +11% (guides Q2)
01[09:39] {@Threei}  Downside:
01[09:39] {@Threei}  -JMEI -3.5% (earnings)
01[09:39] {@Threei}  -BHP -3.1% (earnings)
01[09:39] {@Threei}  -RDEN -23% (earnings)
01[09:39] {@Threei}  -LOCO -6.0% (disappointing broker initiations)
01[09:39] {@Threei}  TLLP -2.9% (offering of 2.1M common units)
01[09:42] {@Threei}  1:2  TWTR
01[09:42] {@Threei}  (close enough anyway)
[09:43] {nemo} except for that little wick on the open spy has a .16 range
[09:57] {nemo} aapl almost there
01[09:58] {@Threei}  closed TWTR in full
01[09:58] {@Threei}  happy so far
[10:02] {dino} wow, lci guides raises guidance big time yesterday and gives all back today
[10:02] {dino} looking for gap fill around 38.15
[10:05] {nemo} one could make an argument for starting an aapl short here with the thought of adding more just over 100
[10:05] {nemo} the animal spirits want that number
[10:05] {dino} magnet
[10:05] {nemo} yeah...moths to a flame
[10:06] {nemo} Ravens to EAP
[10:09] {dino} lci sm l .25
[10:10] {nemo} there's your 1:1
[10:10] {nemo} 1:2 also
01[10:27] {@Threei}  gotta wake up earlier these days, stillstanding... missed two good trades
01[10:44] {@Threei}  AMT Hearing weakness being attributed to a cautious report from Muddy Waters
[11:16] {mib_stillstanding} hopefully no bad trades
01[11:17] {@Threei}  no
01[11:17] {@Threei}  2 shots, 2 wins... one even deserved a visual:
01[11:17] {@Threei}  http://tradinglog.realitytrader.com/2014/08/aug-19-2014.html
[11:18] {mib_stillstanding} vn
01[11:25] {@Threei}  nemo... you overdo this application of superglue to SPY on daily basis
[11:26] {nemo} All of Europe on vacation, it's not my fault
01[11:26] {@Threei}  I elect to think it's yours
[11:31] {dino} its always your fault nemo
01[11:32] {@Threei}  there you go
01[11:35] {@Threei} Long Setup:  FB  .10 break
01[11:35] {@Threei}  If holds  .05
01[11:35] {@Threei}  very tight stop, and just a scalp most likely
[11:36] {dino} phm hl l .00
01[11:41] {@Threei}  - EUR/USD moved out to fresh 2014 lows below 1.3330 this morning
01[11:56] {@Threei}  feel free to take scalp as you see fit
01[11:56] {@Threei}  out .18, full lot
[11:56] {nemo} AAPL 100
01[12:27] {@Threei}  nice move FB
[12:27] {nemo} until aapl comes in everything is a long party
[13:02] {dino} slxp spike
[13:03] {dino} smr s 149.95
[13:05] {RonS} Allergan Has Approached Salix Pharmaceuticals About Acquisition of Drug Co. -- Sources
[13:05] {dino} ty
[13:05] {RonS} from dj news
[13:06] {dino} cov slxp 145.84, +4.11
[13:07] {RonS} Allergan Is In Talks With More Than One Acquisition Target -- Source
[13:09] {dino} reload s smr 14850
[13:10] {dino} cov 148.74 -.24
[13:10] {nemo} it's tough in this environment not to force trades
[13:10] {dino} damn rinsed
[13:11] {nemo} spy looks short here
[13:12] {dino} smr s 148.25
[13:14] {nemo} boy am I bored.  watching "Mysteries of the Bible"
[13:14] {dino} cov 147.73, +.52
[13:17] {dino} smr s .77
[13:22] {dino} cov 148.20 -.53
[13:23] {dino} smr s 148.80
[13:24] {dino} stop .33-.53
[13:24] {dino} hmmm
[13:29] {dino} cce spike
[13:32] {dino} adding lci dec calls off yesterdays news
[13:36] {dino} slxp smr s 151.98
[13:41] {dino} no go
[14:11] {nemo} dcc dino
[14:12] {nemo} SPY looks northbound
[14:14] {nemo} gonna get into that gap
01[14:38] {@Threei}  Fluorescent Green “Fireball” Seen in Sky Over Vancouver Island
01[14:38] {@Threei}  they are coming
01[14:39] {@Threei}  http://www.cheknews.ca/news-update-fluorescent-green-fireball-seen-in-sky-over-vancouver-island/
01[15:00] {@Threei} Short Setup: TWTR  .15 break
01[15:00] {@Threei}  If holds  .20
[15:01] {RonS} taking off early here...gone to san diego until next tuesday...y'all have some good ones...ciao
[15:01] {dino} have fun
[15:02] {RonS} will do
01[15:02] {@Threei}  take care ron
01[15:08] {@Threei}  Invalidated
[15:09] {nemo} yeah shorts in a low volume float up is like _________ in a _____________
[15:10] {nemo} what's worse, I have index short setups developing
01[15:11] {@Threei}  too narrow anyway
[15:11] {nemo} 200 a siren song for SPY
[15:12] {dino} yeah, hard to make cake with gap and sits
[15:12] {nemo} yeah, central banks gap the overnight futures on the cheap and then the market holds them
[15:13] {nemo} these last two weeks of August no volume no sellers
[15:13] {nemo} easy game
01[15:15] {@Threei}  just imagine the ampkitude of the move when something shakes the markets out of this complacency
[15:18] {nemo} Dow almost 17000
[15:18] {dino} it wants 20k imo
[15:19] {nemo} yeah, well I figure before labor day easy on 17000...20k I might be dead
[15:19] {dino} 20k within 18 months
[15:21] {nemo} arguably should short indexes here
[15:22] {dino} petm spike
[15:23] {dino} up for sale
01[15:23] {@Threei}  [PETM] Said to be seeking to explore a potential sale; could review strategic alternatives - financial press - Reminder: Jana partners(9.8% stake) has been a frequent agitator for a strategic review at the company
[15:24] {dino} smr s .95
[15:25] {dino} cov .34, +.61
01[15:25] {@Threei}  wtg
01[15:25] {@Threei}  it was worth the wait :)
[15:25] {dino} yeah, need to just sit back and wait, but tough to stay awake
[15:27] {dino} smr s .06
[15:30] {dino} cov petm .66, +.40
[15:31] {dino} i should just show up around 2:30 and trade last hour and half
[15:32] {dino} dgly spike
[15:36] {nemo} guess I should have shorted ;-)
[15:40] {dino} out phm .07, +.07 for all day, sheesh
[15:42] {dino} out kate calls from last week, +.35/22%
01[15:43] {@Threei}  KATE's nice, but PHM is lol
01[15:48] {@Threei}  OK guys, inactive but 100% day
01[15:48] {@Threei}  have a good evening, see you tomorrow
[15:48] {dino} u2, gn all

Aug 18 2014

Gap-and-stall, not our market whatsoever. Add low volume, and you have a recipe for rinses, which is exactly what we got. One good trade on VXX in the morning, then a few shakeouts. Finishing in red, gotta change the strategy if this swamp-like action continues.


Session Time: Mon Aug 18 00:00:00 2014
[09:03] {dino} gm
01[09:04] {@Threei}  morning dino
[09:05] {nemo} what's the FDO DG news
01[09:05] {@Threei}  [FDO] CNBC's Faber: DG's initial bid likely to be rejected - Reminder: Earlier Dollar General confirms Proposal to Acquire Family Dollar for $78.50/shr in cash (approx 3% premium, 5% above offer from Dollar Tree}; total value $9.7B (including debt}
[09:11] {nemo} too funny, just heard about it on German radio
[09:12] {nemo} lotta' traffic jams around Munich
01[09:13] {@Threei}  why?
[09:13] {nemo} good question this time of day, it's 3:15 over there
[09:13] {nemo} I just listen to the streaming programming
[09:14] {nemo} They're doing area weather now
[09:14] {nemo} Now Turkey is pissed at the German version of the CIA about their spying
[09:17] {dino} lci
[09:21] {troub} good morning
01[09:21] {@Threei}  troub :}
[09:21] {RonS} gm
01[09:21] {@Threei}  ron :}
[09:21] {dino} lci
[09:21] {dino} opps
[09:25] {nemo} DAX gapped and napped
[09:25] {nemo} CPI tomorrow  we might too
01[09:29] {@Threei}  (EU} NATO Official: NATO will not try to base major combat forces in Eastern Europe, but is loooking to boost its presence in the region - There are no plans to declare Russia as NATO's main adversary - Putin has some short-term, tactical advantages, but the long term view favors the western powers
01[09:31] {@Threei} Short Setup: GLD  .70 break
01[09:31] {@Threei}  If holds  .80
01[09:32] {@Threei}  change to .75 break
01[09:32] {@Threei}  If holds  .82
01[09:35] {@Threei} Short Setup: TWTR  .25 break
01[09:35] {@Threei}  If holds  .32
01[09:35] {@Threei}  1:1
01[09:43] {@Threei}  VXX, watching for pullback entry
[09:47] {nemo} index short setups
01[09:48] {@Threei}  meh GLD
[09:52] {nemo} so much for those,
01[09:53] {@Threei} Long Setup:  VXX  28 break
[09:53] {nemo} spy gap fill
[09:56] {dino} lci sm l .20
[09:58] {dino} feye sm l .10
01[09:59] {@Threei}  change to .90
[09:59] {dino} car spike
01[10:00] {@Threei}  (US} Aug NAHB Housing Market Index: 55 v 53e (highest in 7 months} [early release on broken embargo]
01[10:00] {@Threei}  wow
01[10:00] {@Threei}  that was at 9:49
[10:04] {dino} feye stop .90, -.20
01[10:04] {@Threei}  GLD rinse
01[10:05] {@Threei}  VXX half out
[10:05] {dino} out lci flat
[10:08] {nemo} OXY looks short below .80
[10:08] {nemo} stop above .90
[10:12] {nemo} 1:1
[10:17] {nemo} 1:2
01[10:17] {@Threei}  nice
[10:18] {nemo} probably looking @.30s
[10:18] {nemo} Index short setups again, but not really excited about them
[10:20] {nemo} I think there must be something unknown going on in X
[10:21] {nemo} 1:3
[10:21] {nemo} stop .66
[10:21] {RonS} or known...Keystone
[10:22] {nemo} Oh jeez...they're bringing back the show "Equalizer" with Denzel Washington
01[10:23] {@Threei}  keystone?
[10:23] {RonS} pipeline
01[10:23] {@Threei}  X ias connected somehow?
[10:23] {nemo} I'd bet on a buyout
[10:23] {RonS} they don't build that with aluminum...
01[10:23] {@Threei}  1/4 more out VXX
01[10:24] {@Threei}  ah... lol
01[10:24] {@Threei}  stop .94
01[10:28] {@Threei}  trail stop to .99
[10:29] {mib_stillstanding} i am now in discussions but dont see anything
[10:29] {mib_stillstanding} now i see it. i guess it does not populate history
01[10:30] {@Threei}  if VXX makes it it 1:3,. should go futher
01[10:32] {@Threei} Short Setup: FB  .50 break
01[10:32] {@Threei}  If holds  .60
[10:33] {nemo} .40 bounce likely
01[10:34] {@Threei}  VXX makes its way to 1:3
01[10:37] {@Threei}  stop to .04
01[10:38] {@Threei}  closed
[10:39] {mib_stillstanding} still short FB?
01[10:39] {@Threei}  no, it went over .60
01[10:39] {@Threei}  see private message pleasr
[10:39] {mib_stillstanding} didn't it hit below .50 first?
01[10:40] {@Threei}  [10:32] {@Threei} If holds .60
01[10:40] {@Threei}  that's a condition for a stop placenment
01[10:40] {@Threei}  and see private message
[10:50] {nemo} Index short setups again with same caveat
01[10:51] {@Threei} Long Setup:  CAT  107 break
01[10:51] {@Threei}  If holds  .90
[11:01] {mib_stillstanding} I got one email only . it does not have any instructions on how to read calls. In addition the following are the effective dates 08/15/2034 08/22/2034 Free Signup $0.00
01[11:01] {@Threei}  that's not it
[11:01] {mib_stillstanding} I may not be alive by then
01[11:01] {@Threei}  there should be one more
01[11:02] {@Threei}  pleaser take this to private message
[11:02] {mib_stillstanding} no other email receivedafter todays registration.
[11:02] {nemo} Everyone thinks of changing the world, but no one thinks of changing himself. - Leo Tolstoy
[11:06] {troub} why change if you are perfect?
01[11:07] {@Threei}  really
[11:07] {nemo} where's my AR
[11:07] {troub} vad is that a ! or a ?
01[11:08] {@Threei}  !
01[11:11] {@Threei}  (FI} Finland Defense Min Lindberg notes that following the events in Ukraine, the Finland Govt has increased its military surveillance operations - Comments however that the threat to Finland has not increased
[11:11] {nemo} even if it has wtf they gonna' do about it
01[11:12] {@Threei}  no kidding
01[11:12] {@Threei}  (US} Interior Department sends draft proposal on drilling safety rules for the Arctic waters off Alaska's northern coast - The Hill (update} The rules are expected to "promote safe, responsibly and effective drilling activities...while also ensuring the protection of Alaska's coastal communities and the marine environment."
01[11:13] {@Threei}  - Markets are waiting with heightened expectations for Fed Chair Yellen's Jackson Hole speech, scheduled for 10:00ET am on Friday. Note also that the minutes from the last FOMC meeting will drop on Wednesday afternoon.
[11:14] {nemo} so much frickin' news this week
01[11:14] {@Threei}  . Few expect a major policy speech from Yellen - the theme of the meeting is the dynamics of the labor market - and some analysts have suggested there may even be attempts to dial back perceptions of a more hawkish tone at the FOMC.
[11:15] {cosmo} How 'bout a Jubilee for a change?
[11:16] {nemo} drinking alrady, ahhh...errr...ahem....Cosmo
[11:19] {cosmo} too early for communion...
[11:19] {cosmo} for me anyway...
[11:19] {nemo} oh jeez....a clergy fetish
01[11:20] {@Threei} Long Setup:  VXX  28 break
01[11:20] {@Threei}  If holds  .95
01[11:22] {@Threei}  need SPY to lose .20
01[11:22] {@Threei}  it's an important support
01[11:22] {@Threei}  if broken, we get a chance for a nice drop
01[11:30] {@Threei}  SPY's glued to the range, .20 - .40
[11:34] {nemo} Europe closes and we get a hiccup
01[11:52] {@Threei}  (IQ} Former Iraq Official Hashemi: Iraq may be on the edge of civil war and partition; just attacking ISIS will not solve all of Iraq's problems
01[12:04] {@Threei}  looks like breakout is coming
01[12:04] {@Threei}  let's see if we can catch IWM pullback
[12:14] {mib_stillstanding} spy bull flag going higher..
[12:15] {mib_stillstanding} if break...
01[12:15] {@Threei}  - NYSE volume 190M shares, about 15% below its three-month average; advancers lead decliners by 4.4:1. - NASDAQ volume 635M shares, about 13% below its three-month average; advancers lead decliners by 2.9:1
01[12:22] {@Threei} Long Setup:  IWM  .10 break
01[12:22] {@Threei}  hesitant call somewhat, I'd prefer a deeper pullback
01[12:23] {@Threei}  but seems not in cards
01[12:23] {@Threei}  If holds  115
01[12:32] {@Threei}  TSLA Herb Greenberg makes cautious comments on CNBC
[12:34] {RonS} that guy is a bozo
01[12:34] {@Threei}  Musk will eat him for breakfast
01[12:34] {@Threei}  change to 115 break
01[12:34] {@Threei}  If holds  .95
01[12:38] {@Threei}  let's do it SPY... break .45
01[12:38] {@Threei}  and run
01[12:38] {@Threei}  fly
01[12:38] {@Threei}  to the moon
01[12:49] {@Threei}  no flying observed
01[12:50] {@Threei}  meh
01[12:50] {@Threei}  out
[12:53] {nemo} IWM bounce maybe
01[12:57] {@Threei}  [AAPL] Purported technical schematics hint at inclusion of NFC technology in iPhone 6, indicates Apple making bigger move into mobile payments - tech blogs
[13:00] {mib_stillstanding} intersting that QQQ and AAPL diverging..
[13:01] {nemo} GOOG weak
[13:01] {nemo} should bounce 581 unless rug pull coming
[13:06] {nemo} VXX heading for resistance
01[13:20] {@Threei} Long Setup:  IWM  .90 break
01[13:21] {@Threei}  If holds  .83
01[13:21] {@Threei}  (OCD stop placement}
[13:39] {mib_stillstanding} froma tweet WORST OF THE YEAR VOL WARNING: NAZ VOL 328 mil after 60 - Gaps below in #markets. Pure drifting, be careful.
01[13:41] {@Threei}  that's why we are so inactive
[13:42] {dino} bingo
01[13:46] {@Threei}  sigh
[13:51] {nemo} well, at least I'm getting caught up on my soaps
[14:09] {goinshort} afternoon !
01[14:09] {@Threei}  hey gs
01[14:11] {@Threei}  still same .20 - .40 range
[14:11] {nemo} .18-.45
[14:12] {nemo} ;-}
01[14:15] {@Threei}  trying to out-OCD me?
01[14:35] {@Threei}  Russian humanitarian aid consists of mainly drinking water and salt
01[14:35] {@Threei}  sounds about right
01[14:35] {@Threei}  who doesn't need salt when bombs are falling around?
[14:36] {RonS} well, you are pissing your pants alot...losing salt...
01[14:36] {@Threei}  ah
01[14:36] {@Threei}  makes sense
01[14:39] {@Threei} Long Setup:  VXX  .10 break
01[14:39] {@Threei}  If holds  28
01[14:51] {@Threei}  Reportedly US court rules in favor of Enbridge on Sierra Club challenge of Flanagan South Pipeline project - press - The Illinois to Oklahoma pipeline carrying tar sands oil will be built mainly on private land and is thus the court rules is exempt from a full US environmental review.
[14:52] {dino} good
01[14:52] {@Threei}  interesting English too
01[14:52] {@Threei}  and is thus the court rules is exempt
[15:03] {RonS} leaving early...see you guys tomorrow
[15:03] {nemo} yeah, that
[15:03] {nemo} s enough of this
01[15:03] {@Threei}  take care ron
01[15:07] {@Threei}  I hate today
[15:07] {dino} same, gap big up and sit are not my market
01[15:07] {@Threei}  and today hates me I take it
01[15:08] {@Threei}  yeah, gap-n-stall
01[15:08] {@Threei}  what to trade when nothing moves
[15:12] {mib_stillstanding} trade nothing or find a stock with high momentum and trade retracement
[15:13] {mib_stillstanding} like I know what i'm talking about:}
[15:16] {dino} lo
[15:16] {dino} lol
[15:16] {dino} dog days of summer
01[15:16] {@Threei}  I have to say, this is the slowest August in wuite a while
[15:17] {dino} agree
01[15:18] {@Threei}  last attempt
01[15:18] {@Threei} Long Setup:  AAPL  .20 break
01[15:18] {@Threei}  If holds  .10
[15:19] {goinshort} gotta go -be back tomorrow - thanks
01[15:19] {@Threei}  if this one doesn't work, I eat my keyboard and send nemo a bottle of strichnine
01[15:19] {@Threei}  take care gs
[15:19] {dino} cya gs
[15:29] {mib_stillstanding} keyboard high in fiber
01[15:29] {@Threei}  what about protein?
[15:30] {mib_stillstanding} depends on what keyboard made of
01[15:30] {@Threei}  mine's bacon
01[15:30] {@Threei}  by design
01[15:30] {@Threei}  since I know I'll have to eat it now and then
01[15:31] {@Threei}  I guess no Santa this year:
01[15:31] {@Threei}  Russian far east farming reindeer to replace US meat
[15:33] {troub} they are going to eat Rudolph?
01[15:33] {@Threei}  sounds like that
01[15:37] {@Threei}  dino, you haven't found anything to tarde today?
[15:38] {dino} couple trades in a.m., that was it
01[15:38] {@Threei}  will switch to DKTK tomorrow if we get the same stalled market
[15:39] {dino} dktk?
01[15:39] {@Threei}  don't kid the kidder
[15:39] {dino} ahh
01[15:39] {@Threei}  fade standard setups or buy the rinse
[15:39] {dino} hard to stay awake last two weeks
01[15:41] {@Threei}  this does it
01[15:41] {@Threei}  bye bye keyboard
01[15:41] {@Threei}  ok guys, still hate today, let's have a nice evening and better day tomorrow
[15:41] {dino} enjoy it, perhaps w/russian salt
01[15:42] {@Threei}  certainly
01[15:42] {@Threei}  although I prefer hymalaiian
[15:44] {dino} calling it a day, gn
[15:46] {mib_stillstanding} bye

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: The Guns of August

- It may be August but markets refuse to settle into a sleepy late summer trading pattern as even more geopolitical shocks and economic slowdown in Europe and Asia keep things very interesting. US stock averages were on track for their best gains in several weeks until heightened tensions in eastern Ukraine knocked them over on Friday and sent the 10-year UST yield to one-year lows around 2.322% and the German 10-year Bund below the 1% mark for the first time ever. In Brazil, the death of an opposition presidential candidate threw the campaign into turmoil, while there was finally some good news out of Iraq. Terrible European GDP data and worrying numbers in Asia left serious questions about the sustainability of the global economic recovery. Stocks continued to climb the wall of worry, and for the week the DJIA rose 0.7%, the S&P500 gained 1.2%, and the Nasdaq added 2.2%.

- The situation in Ukraine kept markets off balance this week, as stories of escalation and de-escalation alternated in quick succession. Kiev was tightening the noose around separatist strongholds Donetsk and Lugansk as the Russian authorities dispatched a humanitarian aid convoy of 280 trucks to help civilians in eastern Ukraine, although Kiev and the Western powers reacted to the move as a thinly-veiled provocation. In a speech on Thursday, Russian President Putin said his government would do "all it can" to stop the conflict in Ukraine and asserted that Russia should not isolate itself from the outside world, inspiring a sense that finally de-escalation was at hand. But within 24-hours of Putin's dovish speech, an incursion into Ukrainian territory by a column of purported Russian armored vehicles and a Ukraine army attack on the column briefly prompted fears that the crisis was headed for a more serious confrontation.

- Data out this week stoked fears of economic slowdown in Asia and Europe. In China, the July new yuan loans measure plunged by two-thirds m/m to the lowest level since January 2010, reviving talk about a Chinese economic hard landing. German GDP shrank 0.2% sequentially, putting the annualized figure at +0.8%, while French and Eurozone q/q GDP was flat. Japan initial second quarter GDP saw the economy contract by the biggest margin since the massive earthquake three years ago, although the drop was not as bad as expected. The numbers were widely expected, given the increase in sales tax, however the 5% contraction in private consumption was much bigger than the -3.7% expected. The one bright spot was the UK, where a modest expansion continued, with preliminary GDP +0.8% q/q and +3.2% y/y.

- The JOLTS report out this week showed that job openings surged to their highest level in over a decade in June. The data suggests there are about two unemployed job seekers for each available job in the economy. Fed Chair Yellen has referred to the JOLTS report as one of her key metrics for gauging labor demand in the US economy, and investors will be closely watching her remarks for any hawkish tones at her Jackson Hole speech next Friday which will focus on the labor market.

- The outbreak of the Ebola virus in West Africa continues to escalate, with about 2,000 confirmed cases reported from Guinea, Liberia, Nigeria, and Sierra Leone, and the mortality rate running over 50%. The WHO has warned that there is evidence that the number of reported cases and deaths vastly underestimate the magnitude of the outbreak.

- After massive pressure from a wide spectrum of domestic political players plus the US and Iran, Iraq PM Maliki stepped down this week after Iraqi President Masoum designated a new candidate to form a government. There had been fears Maliki would try to foment a coup and hold on to power, however the armed forces gave him no support, undercutting his position. Late in the week, leaders of the Sunni and Kurdish factions threw tentative support behind the new PM, Al-Abadi, raising hopes for a more inclusive and cohesive government. In the north, US airstrikes seemed to lift the siege of the Yazidi minority trapped on Mount Sinjar, but ISIS remains as strong as ever.

- Kinder Morgan announced plans this week to eliminate its master limited partnership structure and consolidate the four Kinder firms - Kinder Morgan Energy Partners, El Paso Pipeline Partners and Kinder Morgan Management - into one company. All four names rocketed higher after Kinder Morgan announced the $70 billion megadeal, which caught observers by surprise considering that Kinder was the first major energy firm to pioneer the MLP approach. The new Kinder Morgan entity will pay out a very generous dividend of $2/share in 2015, up 16% from this year.

- The July US advance retail sales numbers were flat, for the worst reading in the series in six months. The ex-autos figure was little better, at +0.1%. Analysts suggested that the weak July data is merely making up for unexpectedly strong numbers in May and June. Retail majors Macy's and Walmart released very soft second-quarter results and trimmed forward guidance. JCPenny, Nordstrom, and Kohl's reported decent quarterly numbers, with JCP and JWN both disclosing positive comps and higher guidance.

- Retail analyst firm ChannelAdvisor released estimated July SSS figures for Amazon and eBay. It said that Amazon July SSS were +40.4% versus June SSS of +34.4%, and estimated eBay July SSS +9.7% versus June SSS +12.3%. Shares of Amazon gained after the report while shares of eBay lost ground this week.

- In other earning news, Cisco reported flattish fourth-quarter performance and first-quarter guidance, which was received by markets without much enthusiasm. The company also launched another round of sizable job cuts, reducing the workforce to refocus on its strongest business segments. Deere mowed down its FY14 forecasts, and saw both earnings and revenue decline on a y/y basis. SeaWorld shares sank after a terrible quarter as gate receipts plummets, and the company responded to recent bad press by announcing it would improve the habitat areas for its signature orcas.

- The weak European GDP numbers and the continuing geopolitical tensions aided dollar strength. EUR/USD retested the nine-month lows seen last week, briefly dropping below 1.3340. Euro sell stops are said to be clustered below 1.3330. The BoE Quarterly Inflation Report was nowhere near as hawkish as expected, as it merely amended its spare capacity view to 1.00-1.25% from 1.00-1.50% prior and trimmed the wage growth forecast for 2014 and 2015. The BoE said there were no numerical thresholds for wage growth to trigger a rate hike. This contrasts sharply with Governor Carney's earlier more hawkish tone. GBP/USD tested four-month lows in the aftermath of the report, around 1.660, and racked up its sixth straight week of losses.

TradeTheNews