We thank all the guests who attended our Open House. We navigated through the rough waters of these two days quite smoothly, finishing Thu in the money and Fri with no single losing trade. Also had a chance to provide educational commentaries to some of the trades, especially textbook QQQQ day trade and a few scalps on breaks and pullback entries. We hope you enjoyed your stay with us.
Session Time: Fri Oct 24 00:00:00 2008
[07:26] {Nemo} Guten Morgen
[07:27] {_coyote} Good Morning Nemo
[07:28] {Nemo} Markets may not open this morning, futures down so much
[07:29] {_coyote} What does that forebode?
[07:30] {Nemo} If there at limit down, there's only trading on equities bid above the down limit. It means 1987.
[07:30] {_coyote} Are the futures that close to limit down this morning?
[07:31] {Nemo} They're at limit down now
[07:32] {_coyote} Where do you get your futures quotes from?
[07:33] {Nemo} If they don't come off, today and likely monday will (use your favorite adjective). I have Fidelity. You can look at finviz.com or bloomberg
[07:33] {_coyote} Thanks Nemo
[07:45] {Threei} Good morning
[07:45] {Threei} wow
[07:45] {Threei} what the heck happened overnight?
[07:45] {Threei} both SP and NQ are limit down
[07:45] {_coyote} Good Morning Threei...looks bad
[07:46] {Nemo} DOW limit down also
[07:46] {Threei} any overnight news causing that or just because?
[07:46] {Nemo} Nothing specific.I'd say hop on the Short ETF wagons, but I'm not sure what will trade this morning.
[07:47] {Nemo} I'll grab the vodka
[07:47] {Threei} PIMCO'S EL-ERIAN: EMERGING MARKETS STARTED THE SELL-OFF, CARRY TRADES GOT HIT HARD, FORCED REDUCTIONS BEGAN YESTERDAY - CNBC INTERVIEW
[07:47] {Threei} - Heavy damage to the system is being worked through, the system needs to get rid of its "damaged parts."
[07:47] {Threei} - Insists however that credit pipes are starting to unclog
[07:47] {Nemo} Words are cheap. LIBOR up, bank hoarding, OPEC cut production
[07:48] {Nemo} This feels like 1987. Today and Monday-ouch
[07:48] {Nemo} Oh report on heightened Russian default risk
[07:49] {Threei} days when you are happy to be a day trader
[07:50] {_coyote} Yes indeed
[07:54] {Nemo} I wonder non-dividend paying stocks will be toast in the future
[07:54] {Threei} just how much do you hate to admit that once a few years even Cramer is right
[07:55] {_coyote} Who?
[07:55] {Nemo} Cramer was just on the bandwagon. Having said that, he picked good stocks. I'd see measurements of return from the day he mentioned them
[07:55] {Threei} TV guru... Jim Cramer
[07:55] {Nemo} Even he would say wait a week.
[07:55] {Threei} I mean his sell everything call
[07:56] {_coyote} Anyone hold anything overnight?
[07:56] {Nemo} Not to pat myself on the fin, but not comparing this to '74 or the depression was the mistake.
[07:56] {Threei} some SLW, coyote
[07:56] {Nemo} Nope. but I wish I had bought the short ETFs!!!
[07:57] {Threei} not looking encouraging
[07:57] {Nemo} Yeah, and that's bid down this morning
[07:57] {_coyote} Does that mean no free food free drinks and girls for the open house?
[07:57] {Threei} we had a lot yesterday
[07:58] {Threei} be back in 10
[08:11] {Threei} QID trades at 89
[08:11] {Threei} looks weird, with this gap down it should be much higher
[08:11] {Threei} trhings are broken
[08:12] {Nemo} Well, those hard limit downs are like banning short selling, which affected the short ETFs
[08:12] {Threei} yeah, distorts prices
[08:13] {Nemo} So, if I start drinking, will it un-distort things?
[08:13] {Threei} OPEC PRESIDENT KHELIL: NOT CONCERNED BY TODAY'S DROP IN OIL PRICES
[08:13] {Threei} of course he isn't
[08:14] {Threei} sorry Nemo, but we have a strict limitation on drinking here: none before 9:25 EST, no more than 300 g of vodka in one gulp, and not more often than one dose every 5 minutes
[08:14] {Nemo} Danish central bank raised rates
[08:14] {Threei} are they out of their collective mind?
[08:15] {Nemo} Yeah, I've had more than my fair share of those Russian tea glass doses
[08:15] {Threei} LIMIT REMINDERS FOR US EQUITIES FROM CME GROUP AND NYSE FOR THE Q4
[08:15] {Threei} http://www.nyse.com/press/circuit_breakers.html
[08:15] {Threei} http://www.cmegroup.com/trading/equity-index/files/EquityIndexPriceLimitGuide.pdf{SPY
[08:16] {Threei} IEA: TODAY'S OUTPUT CUT WILL FURTHER DETERIORATE WORLD ECONOMIC SITUATION
[08:16] {Threei} OPEC: as if we care
[08:16] {Threei} (US) MARKIT: US INVESTMENT GRADE DEBT CDS INDEX WIDENS TO A RECORD LEVEL OF 243.75 BPS ON FALLING EQUITY FUTURES
[08:17] {Nemo} Well either 1) the world is ending-not 'till 2012. or, 2) This is the capitulation. Hopefully it doesn't crash the machine
[08:17] {Threei} 1 is questionable - why wait that long?
[08:17] {Threei} I say lert's have world end today and be done with it
[08:18] {Nemo} Yeah, but the mystics from the various traditions around the world say 2012
[08:18] {Threei} well, then we have almost 4 more years to enjoy
[08:19] {Threei} just gotta make sure you have a gun handy I guess
[08:19] {Nemo} What's scary, is there all in agreement. Not like those 7th day Adventists back in the 1800s or the Lubavitchers when Schneerson ie
[08:19] {Threei} 'cause a lot of others might have different ideas on how to anjoy it
[08:19] {Nemo} GUN(S) plural and ammo
[08:19] {Threei} are you ever optimist eh :)
[08:20] {Nemo} When I deem it the right course of action
[08:20] {Threei} I show oil 63.79
[08:20] {Threei} not sure this wuote is right
[08:21] {Nemo} Can't wait to hear your game plan for the day. Helluva time to hold an open house, huh?
[08:21] {Threei} lol
[08:21] {Nemo} I've got oil at 63
[08:21] {Threei} my timing in these things always sucked
[08:22] {Threei} RealityTrader creation itself - 2000
[08:22] {Threei} not 1998
[08:22] {Threei} not 2003
[08:22] {Nemo} Better to suck at this than at your trading, huh?
[08:22] {Threei} just before big crash :)
[08:22] {Threei} I guess
[08:22] {Threei} on the other hand...
[08:22] {Threei} we had absolutely fantastic trading weeks,
[08:23] {Threei} easy to see by reading our trading logs,
[08:23] {Threei} winning 9 days out of 10 on those two weeks of biggest swings
[08:23] {Nemo} Yeah, you've been cleaning up. Just hopefully (optimistically speaking) those piece of paper continue to be worth something
[08:23] {Threei} and firmly intend to keep the room as safe as possible today
[08:23] {Threei} well, that's all we have
[08:24] {Nemo} Bar the door then
[08:24] {magoo} morning
[08:24] {Threei} morning mags
[08:24] {magoo} certain;ly tough times to do an open house
[08:24] {Threei} hehe
[08:25] {Nemo} shoulda' read the discourse magoo. smack him with my cousin!!
[08:25] {Threei} DJI - 600
[08:25] {Threei} and we haven't even opened yet
[08:26] {Nemo} Here's hoping this is 1987 and not 1929
[08:26] {Threei} I would say never in my life have I seen anything like over last three weeks,
[08:26] {Threei} but then again, everyone is saying this
[08:26] {_coyote} Maybe should have stayed with the Indian slots
[08:26] {Threei} lol
[08:26] {Nemo} I was sitting in class during 1987, that was something
[08:27] {Threei} I still don't think it's going to be repeat of Great Depression
[08:28] {Threei} uh oh
[08:28] {Nemo} As you say about the markets, it doesn't matter what we think. The great (cough, cough) minds didn't see this coming
[08:28] {Threei} GM
[08:28] {Threei} COMPANY REITERATES THAT BANKRUPTCY 'NOT AN OPTION'
[08:28] {Nemo} Fed will supply mouse money to GM
[08:30] {Threei} Raven... you noticed sky is falling?
[08:30] {Nemo} Maybe I'll just run up my credit cards and file bankruptcy
[08:32] {Nemo} SKF pretty much pinned at 180, although 20% return overnight would have been nice
[08:33] {Raven} Just your once a century panic ... no problem
[08:33] {Threei} yup
[08:35] {Nemo} Vad, check Bill this mornin'?
[08:35] {magoo} man
[08:35] {Threei} not yet nemo
[08:36] {magoo} , so i understand we have to sit -n-see, but any working theories for toay?
[08:36] {Threei} well
[08:36] {magoo} it could crash at bell...bounce ...and crash
[08:36] {Threei} first, it's going to be a chaos
[08:36] {Threei} I intend to skip the very open,
[08:36] {magoo} it could spike at bell, hard pullbk, then up then close at lows
[08:36] {Threei} simply because volatility will be beyond risk tolerance
[08:36] {magoo} btw, whats gun for?
[08:37] {magoo} suice or self defense at worlds end?
[08:37] {magoo} suicide\
[08:37] {Nemo} self-defense
[08:37] {Threei} latter
[08:39] {magoo} i do not think anyone will want to hold over weekend thinking a black monday is set up here
[08:39] {magoo} odds in favor of closing at lows
[08:40] {magoo} so at 2pm..look to see selloff
[08:40] {Nemo} Not to step out on a limb, but the odds are probably 1:1 on that
[08:40] {magoo} explain please
[08:41] {Nemo} I'm agreeing with your view. 1:1 is even money odds
[08:43] {magoo} well, i not giving it even odds
[08:43] {Nemo} As a matter of fact I was just about to say that magoo
[08:43] {magoo} i say{and i do not know jacksh@t}, BUT, who in right mind would buy long into last hour?
[08:44] {Nemo} Who buys long period these days?
[08:45] {Threei} someone does
[08:46] {Nemo} Yeah, and you take their money :)
[08:46] {Threei} I mean... all these mutual and hedge funds liquidations,
[08:46] {Nemo} Wow, GDX and GLD both bid down
[08:46] {Threei} these insane amounts of shares do go in someone hands, right?
[08:47] {Nemo} Oh, I agree, just crazy. Although, as we see today, nobody is buying.
[08:47] {Threei} that's not exactly right
[08:47] {Threei} maybe nobody is buying actively
[08:47] {Threei} meaning bidding up and taking offers
[08:48] {Nemo} Well, would supply be well in excess of demand so far today?
[08:48] {Threei} but when bids are geting hit, someone did sit on those bids and absorbed selling, right?
[08:48] {Threei} and when supply side is so eager,
[08:48] {_Bruce} morning all
[08:48] {Threei} bidders are ever so willing to drop bids and get better prices
[08:48] {Threei} bruce :)
[08:48] {_Bruce} vadster
[08:49] {Threei} I mean, you are car hunting,
[08:49] {Threei} you see big inventory
[08:49] {Threei} and dealer eager to sell
[08:49] {Threei} pressing you to buy NOW
[08:49] {Threei} offering discounts
[08:49] {Threei} you will try to lowball your bid, right?
[08:50] {Nemo} Absolutely. Do you think volume will be the story today?
[08:51] {Threei} both volume and price
[08:53] {dino} gm all, seems i was a day early on end of days
[08:53] {dino} black friday in the making perhaps
[08:53] {Threei} dino :)
[08:53] {Threei} no, you were right, it's just that world end is a process
[08:54] {Threei} unfolds over certain period of time
[08:54] {lisa_jay} Good morning.
[08:54] {Threei} lisa :)
[08:55] {Threei} gold under 700?
[08:55] {Threei} jeez
[08:58] {_Bruce} dino
[09:00] {dino} :)
[09:01] {dino} chaos today, big swings both ways. end of day, who knows, gut says down -200ish. all just opinion, which are like asses, everybody has one
[09:01] {Threei} I agree with every word except my gut says nothing about closing number
[09:02] {Threei} on days like thgis anything is possible
[09:02] {Threei} literally
[09:02] {lisa_jay} How about we close up...
[09:02] {Nemo} And I have to leave early today
[09:03] {dino} ok lisa, about as good as my guess
[09:03] {dino} ahhh, nemo, we are like hotel california, you can check in, but never leave
[09:04] {Nemo} I remember when that came out
[09:04] {lisa_jay} My kid begs us not to play "when your hungry love with keep us alive"
[09:04] {lisa_jay} sorry love will keep us alive.
[09:04] {Nemo} Better than "Love will keep us together"
[09:05] {lisa_jay} :-)
[09:05] {Nemo} They got divorced
[09:07] {dino} lol
[09:11] {Geo} gm all
[09:11] {Geo} interesting overnight i see
[09:11] {Threei} Geo :)
[09:12] {Threei} be back in 5, and shape up the plan
[09:15] {dino} remember rule #1 today
[09:16] {Geo} ?
[09:16] {dino} you must stay in the game
[09:16] {Geo} ah
[09:19] {dptl} good morning all
[09:19] {dino} rule #2; good trading is not about being right, it's about trading right
[09:20] {Threei} back
[09:20] {Threei} I see dino already formulated my plan :)
[09:21] {Threei} things wikll be very erratic, especially at the open
[09:21] {hawkfan4} gm all
[09:21] {Geo} ES limit down trading stopped?
[09:21] {Threei} hawk :)
[09:21] {Threei} all futs geo
[09:22] {Threei} capital preservation is main purpose,
[09:22] {Geo} ah
[09:22] {Geo} am i grad i didnt take that long overnight heheh
[09:22] {Onix} Good morning
[09:22] {Threei} it's much better to sit this kind of panic out than lose big,
[09:22] {Threei} onix :)
[09:22] {dptl} .
[09:22] {Threei} . to you too dp
[09:23] {dptl} :)
[09:23] {Threei} also, keep in mind that many trading platforms may be bogged down in this kind of trading
[09:23] {Nemo} Yeah, it's kinda' like being at the intersection of a really bad car accident
[09:23] {Threei} so you may get caught in frozen platform even when you are right on your entry
[09:24] {lisa_jay} Bloomberg guy says we will open limit down even double limit down...1 buyer and about 11000 sellers - of course i don't listen to news (J. Carter floor trader)
[09:24] {Threei} let's let the 10-15 minutes go,
[09:24] {Threei} see what's happening,
[09:24] {Threei} verify quotes accuracy,
[09:24] {Geo} j carter ?
[09:24] {Threei} when first trades start emerging, keep size down,
[09:24] {dino} lol, guy on cnbc saying perfect time to buy
[09:24] {Threei} be nimble today,
[09:24] {Geo} if thats the guy with book he no a floor trader
[09:24] {lisa_jay} told you i don't pay attention to details on news.
[09:25] {Threei} book profits quickly, especially at first,
[09:25] {Threei} keep stops as if your very life depended on it.
[09:25] {Threei} ANYTHING can happen today
[09:25] {patience} like a shutdown of the markets by the fedf?
[09:26] {dino} he's not a floor trader
[09:26] {patience} good point dino
[09:27] {lisa_jay} Jeff carter
[09:28] {peterg} morning all; veryyy;yrt interesting mkts today
[09:28] {Geo} ok
[09:28] {Threei} peter :)
[09:28] {Threei} oh, and one last comment before we open:
[09:28] {magoo} OY
[09:28] {Threei} today is immense learning opportunity
[09:28] {patience} have your paper bag ready?
[09:29] {Threei} whether yo dive into trading or not, do observe to see how this kind of extremes influence p;eople and their trades
[09:29] {lisa_jay} Vad, since i only trade 100 shares i should probably sit this out.
[09:30] {Threei} oh btw, about SLW,
[09:30] {Threei} I sold half lot at 3.24 earlier,
[09:30] {Threei} still have half
[09:30] {ese} morning...wow....futures limit down.
[09:30] {Threei} will see what happens whehn the dust settles
[09:30] {dino} head fake
[09:31] {Threei} ese :)
[09:31] {ese} I haven't seen this before
[09:31] {Nemo} kids,
[09:31] {Nemo} I suppose that deserves a trout slap. go ahead, hit me.
06[09:32] * magoo slaps Nemo around a bit with a large trout
[09:32] {Threei} and you thought you would have to ask twice?
[09:32] {Nemo} Nope. I know when I stick my chin out, I'm gonna' take a shot.
[09:33] {Threei} QQQQ, watch for pullback into 28.20 for possible long entry
[09:34] {Threei} if drops there, pauses and shows reversel, get half lot, keep stop under 28
[09:34] {dino} 8243 yesterday lod
[09:35] {dino} broken
[09:37] {Threei} VIX VOLATILITY INDEX HIT NEW ALL TIME HIGH AT 89.53
[09:38] {Threei} Qs got away for now
[09:39] {Threei} quotes seem to be fine
[09:39] {magoo} actually..no real panic it sdeems
[09:39] {Threei} look at UAUA to see what kind of volatility we had on first minutes
[09:40] {Threei} imagine yourself caught on a wrong side
[09:40] {magoo} been there
[09:40] {magoo} sigh
[09:40] {Threei} 11 to 13 and back to 10.5
[09:40] {Threei} all in 4 bars
[09:40] {ese} been there also mags
[09:40] {magoo} been there too..4 bars lol
[09:40] {Threei} rofl
[09:41] {ese} vad what indicator are you looking for that show that selling is tapering off?
[09:41] {Threei} just chart
[09:42] {ese} ar you looking at any sort of index indicator
[09:42] {Threei} not sure what you mean
[09:42] {ese} well the VIX would be one...any others?
[09:43] {Threei} no
[09:43] {dino} sm l ddm .90, stop .47
[09:43] {ese} whans is the last time you saw futures limit down?
[09:43] {magoo} last week
[09:43] {Threei} can't even remember
[09:43] {Threei} before this whole debacle I mean... years ago
[09:44] {ese} ...this pretty historic for our generation...
[09:46] {Nemo} Maybe 2001, but they didn't put the breakers in until after 1987. I was in grad school then. It was all we talked about
[09:47] {Threei} PREVIEW: SEPT EXISTING HOME SALES DUE OUT AT 10AMET
[09:47] {Threei} **consensus expectation: 4.95Me v 4.91M prior
[09:47] {magoo} terrific
[09:47] {Threei} SLW is back within our initial stop
[09:47] {Threei} if uncomfortable, dump it here
[09:47] {Geo} NCC being acquired ad?
[09:47] {Geo} vad
[09:48] {Threei} I'll try to hold that half lot a bit more
[09:48] {ese} what were you studying Neno?
[09:48] {ese} Nemo...
[09:48] {Nemo} MBA
[09:48] {Threei} NCC, yes, for 2.23
[09:48] {ese} ahhhhh.
[09:49] {ese} stick with Vads MBA.......it works
[09:49] {Nemo} BS (Bull manure) MS (more of same) PhD (piled high and deep) MBA just a variation on a theme
[09:49] {dino} out ddm .38, +.48
[09:49] {Threei} dino :)
[09:50] {dino} lucky
[09:50] {dino} coin flup
[09:50] {Threei} SLW is back to breakeven
[09:50] {magoo} is that similar to a coin flip?
[09:50] {ese} agreed....took some business courses here at U Vic......
[09:51] {Threei} UAUA, what a crazy move
[09:51] {ese} wanted to learn about the market....kind of teach you to be car salesman of security products
[09:51] {magoo} i should not post this
[09:51] {magoo} feels like green coming
[09:51] {Threei} amazingly enough yes
[09:51] {ese} I think your right mags
[09:52] {lisa_jay} airlines showing strength.
[09:52] {lisa_jay} sorry did not see earlier post.
[09:52] {Threei} numbers in 8 min
[09:53] {Threei} OK, some pullbacks finally appear
[09:53] {magoo} ideally...drop to low ..then base and rock up
[09:53] {magoo} need a pullbk
[09:53] {Threei} yeah, buying breaks so far feels like the craziest thing to do
[09:53] {Threei} thus it works, lol
[09:56] {Nemo} uyg continues to climb
[09:56] {Threei} everything does
[09:57] {Threei} lulls traders into complacency
[09:57] {Threei} and will drop hard just when everyonwe decides it's up only for the day
[09:57] {Nemo} ahhh and you accuse me of pessimism :)
[09:58] {lisa_jay} Parabolic rise....
[09:59] {ese} nice climb back for NVDA into green....
[09:59] {Nemo} note from bill cara on futures as a market indicator: I think holding on at this point is the wisest move. Futures markets are only reflecting the sell orders streaming into equity and commodity markets, which have stopped working as value discovery mechanisms.
[09:59] {Nemo} Somebody sent me an article by Jon Markman titled "Bundled up for a deep credit freeze" and asked me for my take. I found it interesting, but it's backward looking. I replied,
[09:59] {Nemo} "Markman saying 'The onslaught has begun' is a problem I have with t
[09:59] {Nemo} I have with this article. It's already late in the game and he has succumbed to an emotional crisis. My analysis is showing that on rallies, the retail accounts are selling and the institutional accounts are waiting for the sell-off, then buying. It's only a mater of time before traders see that the market is no longer functioning as a value discovery mechanism, and the selling stops." The buying will follow.
[10:00] {Threei} SEPT EXISTING HOME SALES: 5.18M V 4.95ME
[10:00] {Threei} wow
[10:00] {Threei} good numbers for a change
[10:00] {Nemo} After california data last week, not a surprise
[10:02] {Threei} ok market, time for pullback
[10:02] {ese} what was the california data Nem?
[10:02] {magoo} really need it
[10:02] {magoo} 90% of porno movies made in calif
[10:02] {magoo} data
[10:03] {ese} those are great stats!!!! mags
[10:03] {Nemo} don't remember exact numbers, but the transactions were up some ridiculous %
[10:03] {Threei} what do we buy on that?
[10:03] {Geo} 90% of em made within my 10 mile radius
[10:03] {Threei} uh oh... Geo is a center of action
[10:03] {Nemo} san fernando valley
[10:03] {magoo} see.mkt wont pullbk so as few on board as possible
06[10:04] * Geo is right there
[10:04] {dino} isn't hje always
[10:04] {dino} he
[10:04] {Threei} seems starting mags
[10:04] {Geo} hey SF valley is a clean wholesome place
[10:04] {Threei} QQQQ. want to see it near 29 at least to start contemplating entry
[10:05] {Threei} and UAUA near 12.50
[10:05] {magoo} half lot
[10:05] {dino} uyg sm l .00, stop .57
[10:05] {Threei} everything half lot, and don't jump in until you see pause and signs of strength returning
[10:05] {Threei} moves in both directions are likely to be exaggerated
[10:06] {Threei} much biger than one would normally expect
[10:06] {Threei} and in any case, rule for the day is better to miss the play than to get caught in sharp countermove
[10:06] {dino} pulp market
[10:07] {Threei} heroic inclinations of "I have to be in action" kind is exactly the stuff wiped out traders are made of
[10:07] {Threei} we are getting there, Qs
[10:08] {Threei} want one more leg down
[10:08] {Nemo} Vad "inaction" is also to be "in action" :)
[10:09] {Threei} philosphically speaking yes :)
[10:09] {Nemo} cogito ergo sum
[10:09] {Threei} did you see on Qs just now?
[10:09] {Threei} teleportation from .30 to .12
[10:09] {Threei} exactly what I mean by the move that traps you
[10:10] {Threei} need one more dump
[10:10] {Threei} not buying here
[10:10] {magoo} AAPL is the tell guys/gals
[10:10] {Nemo} I understood. thanks, vad. DUG building strength
[10:10] {Threei} come on Qs, dive under 29
[10:11] {Threei} shake out those who decided it's up only
[10:11] {Threei} then we will buy
[10:11] {dino} ice sm risky l .40
[10:12] {Threei} here we go
[10:12] {Threei} UAUA is getting there too
[10:12] {Threei} still don't see sharp red bar
[10:12] {Threei} on either
[10:13] {Threei} OK, first try Qs if not losing .90 anymore
[10:13] {Threei} 28.05 trigger
[10:13] {Threei} half lot!
[10:14] {dino} ice stopped -.41
[10:14] {Threei} 29.05 sorry
[10:14] {dino} rinsed
[10:15] {Threei} Q 1 cent shy of 1:1 on a spike
[10:15] {Threei} OK, geting there
[10:15] {Threei} 1:1 Qs, half out, scalpers be happy
[10:15] {dino} ice off of .25 fast
[10:16] {Threei} stop to .99
[10:16] {Threei} for the balance
[10:16] {Threei} UAUA is right near 12.50 support
[10:16] {Threei} this one is even more volatile
[10:16] {Threei} not sure it's worth the risk here
[10:17] {Threei} if you like it, be ready for a stop under .50 and poissible multile entries
[10:17] {Threei} if went for it, try to offer around .90
[10:18] {Threei} there
[10:18] {Threei} take profit and don't get stuick in it
[10:18] {Threei} playing it as safe as possible today
[10:19] {magoo} take profit...go change diaper..get cup-o-joe
[10:19] {Threei} eqzaktly
[10:19] {Nemo} use vaseline
[10:19] {dino} gun to the head...up or down
[10:19] {magoo} do NOT make me slap u again nemo lol
[10:19] {dino} up imo
[10:19] {Threei} Qs, stop for the balance is still right under 29,
[10:20] {magoo} down retest low...upo to moon
[10:20] {Threei} try to offer it between .40 and .50
[10:20] {Nemo} magoo, you'll knock my scales off
[10:20] {dino} alright jackie gleason
[10:24] {Threei} everyone's OK on Qs?
[10:24] {Geo} stopped second
[10:24] {Threei} yup
[10:24] {Threei} scapers win
[10:24] {hawkfan4} yep, took scalp thx
[10:24] {Geo} i took 2/3 on 1:1 as wasnt sure
[10:25] {Threei} can't blame you
[10:26] {Geo} wanted to keep a little to learn to hold
[10:26] {Threei} instead learned how to take a tightened stop on partial
[10:26] {Threei} lesson too :)
[10:26] {Geo} good one
[10:26] {Threei} this is just a paret of trade management
[10:26] {Geo} yup
[10:27] {Threei} routine procedure as stock moves in your favor
[10:27] {lisa_jay} Looks like going to test lows.
[10:27] {Threei} 1;1, sell part (unless scalp intended),
[10:27] {Threei} trail stop to undeer breakeven
[10:27] {Geo} 17 cents TY vad
[10:27] {Threei} 1:2, sell 1/4 more, trail stop to under 1:1
[10:27] {Threei} then either take full out on the next spike
[10:28] {Threei} or stop taking profits and simply trail your stop under each next taken resistance
[10:28] {Threei} letting stock stop you out when it reverses
[10:28] {_Bruce} klac short on 18 break
[10:29] {Threei} if stays below .15 - .20 zone, bruce?
[10:29] {Geo} chrsler cutting 25% of white collars
[10:29] {_Bruce} agreed vad
[10:30] {lisa_jay} Thanks Vad, now i don't have to read the book.
[10:30] {Geo} lol
[10:30] {magoo} vad..may i add
[10:31] {magoo} i truly believe u must layout offers at exit points...be first out
[10:31] {Threei} of course lisa... I didn't :)
[10:31] {Threei} especially on volatile stocks, yes, mags
[10:31] {magoo} i just laid goog out 339.21
[10:31] {Threei} but be ready to hit the bid if stock comes into your selling point and stalls
[10:31] {Nemo} don't forget baidu
[10:31] {magoo} neversaw it but got fill and it fell 2 points
[10:32] {Threei} nothing's worse as missing your sale by couple cents pnly to see stock reversing and your profit evaporating
[10:32] {Geo} yes there is
[10:32] {Geo} ho about going neg and me hoping and praying
[10:32] {Geo} used to do that a lot
[10:33] {Geo} now hard stops like dino saves me the angst
[10:34] {Threei} first emotions calmed down
[10:34] {magoo} he still dishes out alot ALOT of angdst
[10:34] {Threei} market narrowed a bit
[10:34] {dino} out ice .45, +1.20
06[10:34] * Geo slaps magoo around a bit with a large trout
[10:35] {Threei} dino the money machine
[10:35] {Geo} me dishes out a trout
[10:35] {Threei} wtg'
[10:35] {Geo} ncie dino
[10:35] {dino} ty
[10:35] {magoo} wtg on trout?
[10:35] {dino} went another .80
[10:35] {Geo} ice has become dino's atm
[10:35] {Threei} my working assumption here is beginning of a slow climb
[10:35] {dino} its the vodka theory
[10:36] {dino} use ice w/vodka and it taste better
[10:36] {magoo} well alrighty then.....im in thaty theorty
[10:36] {Threei} NQ holding above 1180 and breaking 1190 would be a first confirmation
[10:36] {Threei} in Q terms, holding above 29 and breaking 29.30
[10:37] {Threei} pullback entries are still better than breaks
[10:37] {Threei} so, the way to play it safe would be:
[10:37] {Threei} get Qs as close to 29 as possible,
[10:37] {Threei} keep tight stop,
[10:37] {Threei} aim to sell half closer to 29.30
[10:37] {Threei} hold the balance for break and climb
[10:37] {Threei} may take a few tries
[10:38] {Threei} so don't do it unless you are willing to take a few tight stops in the process
[10:39] {_Bruce} s klac 18.13 w 9c stop
[10:40] {Threei} in .07
[10:40] {Threei} stop about 28.95
[10:41] {dino} mkl holding
[10:41] {_Bruce} stopped klac
06[10:42] * Threei kicks the market in the rear with heavy duty steel-toed army boots
[10:42] {Threei} oops... that wasn't rear?
[10:44] {Threei} 1:1 here for scalpers
[10:44] {Threei} keeping my plan though
[10:44] {Threei} offering half .27
[10:45] {Threei} hit
[10:45] {Threei} let's break that .30 now, shall we?
[10:46] {Threei} anyone joined the play?
[10:46] {Geo} me
[10:46] {hawkfan4} i'm in too
[10:46] {Geo} half out at .2 got 15 cents
[10:46] {Threei} okay
[10:46] {Threei} let's see if second part pans out
[10:46] {lisa_jay} Sorry, i am just with popcorn today.
[10:47] {Threei} chicken wings?
[10:47] {Threei} anyone of guests went for it?
[10:47] {Threei} laid out plan well in advance
[10:48] {Threei} come on guys, maake your stay with us worthwhile
[10:48] {Chaeron} Good morning all
[10:48] {Threei} chaeron :)
[10:49] {magoo} chaerbroil:)
[10:49] {Geo} hey chaeron
[10:49] {dino} slap them all 3i, slap them all
[10:49] {Threei} hmmm
[10:49] {Geo} the Q is
[10:49] {Chaeron} hey mags, Geo
[10:49] {Geo} are they even here?
[10:50] {Threei} my idea of hospitality must be outdated, lol
[10:50] {Threei} grow a set market, will ya?
[10:50] {Threei} time to break
[10:50] {Nemo} Vad: Q climbing a bit, but volume dropping...not good? Seems other stocks doing same.
[10:51] {Threei} broke
[10:51] {_coyote} In 29.25 Q's
[10:51] {Threei} you know, volume at this point is not very indicative for a simple reason:
[10:51] {Threei} opening was panicky one
[10:51] {Threei} adding a lot of unusual volume
[10:51] {Nemo} thanks
[10:52] {Threei} so hard to find the base for comparison
[10:52] {Threei} ok guys, make up your mind here
[10:52] {Threei} full out or 1/4
[10:52] {_coyote} out 29.38 in full small lot. Thank you sir.
[10:52] {Geo} all out at 40
[10:52] {Geo} 35 cents TY
[10:52] {Threei} good job coyote
[10:53] {Threei} for 12 cents initial stop we have solid 35 or so gain
[10:53] {Threei} 1:3
[10:53] {Threei} my original idea of this trade was slow steady climb
[10:53] {Threei} and so far it's getting confirmed
[10:53] {Threei} so, to me, it's 1/4 out
[10:53] {Threei} and trailing last portion
[10:54] {Threei} letting masrket stop me out on reversal
[10:54] {Geo} you trail manuall right?
[10:54] {Threei} who tells me where to put a stop for it now?
[10:54] {Threei} yes
[10:54] {Geo} 1:1?
[10:54] {lisa_jay} Under 20
[10:54] {Threei} lisa gets the prize
[10:55] {Threei} that's where last pullback bottomed out
[10:55] {Threei} new suppoort level
[10:55] {Threei} if gets broken, uptrend is violated
[10:55] {dino} ot: coyote, you're not joe by any chance?
[10:55] {Threei} 10:50 10:51 bars formed that support on 1 min
[10:56] {Chaeron} lol
[10:56] {Geo} sigh
[10:56] {Geo} vad wins
[10:56] {_coyote} no coyote bob
[10:56] {magoo} c'mon mkt go go goooooooooooo
[10:56] {dino} ok, buddy of mine goes by that name
[10:57] {hawkfan4} i was thinking Wiley
[10:57] {_coyote} would be a friend of mine also dino
[10:57] {Geo} i was thinking ugly
[10:57] {hawkfan4} lol
[10:57] {_coyote} that too geo
[10:58] {Nemo} That's Wile E.
[10:58] {Geo} nice memories of vegas ummmmmm
[10:58] {hawkfan4} ah, thx Nemo :)
[10:58] {_coyote} indian slots for me
[10:59] {Nemo} Yeah, he was like Clouseau's boss to the roadrunner
[10:59] {dino} indeed he would, crazy one
[11:00] {_coyote} coyote joe's can be dino
[11:00] {lisa_jay} Vad, would you move stops to under 28 now?
[11:00] {Threei} track the logic further as we progress: latest pullback bottomed out at .30 -.32
[11:00] {Threei} so new breakout, and yes, stop is trailed under that level
[11:00] {Threei} .50 taken, stop is trailed
[11:01] {Threei} at any of these breaks, you face a decision, to take profit or continue trailing
[11:01] {Geo} classic vad
[11:01] {Threei} pretty much personal preference,
[11:01] {lisa_jay} If it was a breakout pull back trade, would you have bought at .31?
[11:01] {Threei} I'd say good compromise is this:
[11:01] {magoo} gonna get slapped...but feels green
[11:01] {Threei} continue trailing if it takes resistance and climbs slowly again,
[11:02] {Threei} and take it if breakout leades to insanely sharp spike
[11:02] {Threei} yes lisa
[11:02] {Threei} not going to get slapped magoo
[11:03] {Threei} not that you don't deserve it... just that you enjoy it and I decided to withold it
[11:03] {dino} fcx sm l .80, clf sm l .30
[11:06] {Threei} need break of .60 now to trail stop further
[11:06] {Threei} last pullback bottomed at just under .40
[11:07] {Threei} so that's where stop is going to be moved to if/when .60 is broken
[11:08] {Threei} one more way to trail it: if Qs go over .50 from here, .40 can be considered mini - double bottom
[11:08] {Threei} and stop can be moved without waiting for .60 to be broken
[11:08] {Threei} for now it's still under .30
[11:09] {Threei} any questions guys?
[11:09] {Nemo} sfsg
[11:09] {Threei} this trade is so textbook, make sure you understand all the elements of it
[11:09] {Geo} classic
[11:10] {Nemo} like a fine wine
[11:10] {Threei} my scanner appears to be broken today again... don't see any new 52 week high alerts
[11:12] {Nemo} yeah, just ran that filter "returns no requests" lol
[11:12] {Threei} :)
[11:12] {Threei} been this way for three weeks already
[11:12] {Threei} why don't programmers fix it.. I already complained
[11:12] {Nemo} just ra 52 week lows-crashed my computer
[11:12] {Threei} OK Qs
[11:13] {Threei} holding or stopping me out?
[11:13] {Threei} stopping
[11:13] {Threei} out last part
[11:13] {hawkfan4} nice trade vad
[11:13] {Threei} .27, , .42 and .28
[11:14] {Threei} ty
[11:14] {dino} gj
[11:15] {_Bruce} s msft 22.19 10 c stop
[11:15] {Threei} things lost clarity here a bit
[11:16] {Threei} gotta wait out until something shapes up again
[11:17] {Threei} I find it hard to believe emotions won;'t flare up again sometime today
[11:17] {Threei} they simply must
[11:17] {Threei} IMF: LIQUIDITY ACTION PLANS ARE ORIGINATING FROM SOME LATIN AMERICAN DIRECTORS ON THE BOARD
[11:17] {Threei} - plan still under discussion, yet to be finalized
06[11:17] * _Bruce slaps magoo around a bit with a large trout
[11:17] {Nemo} Friday towards end of day should be a fire drill. Then again, that means it won't. Was I vacillating enough on tht
[11:18] {_Bruce} sorry mags - emotional outburst there
[11:18] {Threei} we had similar situation two weeks ago I think nemo
[11:18] {Threei} or three
[11:18] {magoo} :)
[11:18] {Threei} whole week it was hard selling closer to eodn,
[11:18] {Nemo} you mean every friday
[11:18] {Threei} eod
[11:18] {Nemo} or is that DOA?
[11:18] {Threei} then on Fri I said won't happen today,
[11:18] {Threei} became too easy for shorts,
[11:19] {Threei} and the notion that no one wants to be long into weekend was too obvious
[11:19] {Threei} what do you know
[11:19] {Nemo} UYG gently rolling over
[11:19] {Threei} rally into end of day
06[11:19] * dino slaps _Bruce around a bit with a large trout
[11:19] {Threei} killing those who decided they figured it out once and for all
[11:19] {dino} burn 'em all ike
[11:20] {Threei} that's how market operates... lulling you into compacency, then reversing course of action when you least expect it
[11:20] {_Bruce} ouch
[11:20] {dino} out clf .70, +.40
[11:20] {_Bruce} feeding trout to vads cat
[11:20] {Threei} spike out of nowhere
[11:21] {Nemo} my piscine sensitivities, please!!!
[11:21] {magoo} was one other factor vad
[11:21] {Threei} don't see any news for it
[11:21] {Threei} remind me mags
[11:21] {Nemo} uyg just bolted
[11:21] {magoo} that was when they were trying to get that bill passed over weekend
[11:21] {dino} out fcx .65, +.85
[11:21] {_coyote} in 29.61 Q's
[11:21] {dino} are we having fun yet?
[11:21] {Threei} no, that was after bill passed
[11:22] {Threei} OK, how's tht for a meanigful headline:
[11:22] {Threei} (US) TREASURY AIDE SAYS TREASURY SEC PAULSON IS CONTINUING TO WATCH MARKETS
[11:22] {dino} hawk you catch any of those?
[11:22] {dino} over daily
[11:23] {Threei} too bad this spike didn't occur while were still in QQQQ
[11:23] {_coyote} out in full small lot 29.74, 1:1 scalp. Thank you sir.
[11:23] {hawkfan4} not yours dino, but having a good one
[11:23] {Threei} I would be dumping into such sharp one
[11:23] {dino} you shall get another try, patience 3i
[11:23] {Geo} lol
[11:23] {Threei} good job coyote
[11:23] {dino} glad to hear hawk
[11:24] {Threei} not my kmind of entry
[11:24] {_coyote} Thank you sir!
[11:24] {Threei} but worked out nicely
[11:24] {Threei} the reason I personally skip this kind of entries:
[11:24] {Threei} ewhile .61 was formally a breakout level,
[11:25] {Threei} Qs spiked vertically into this resistance
[11:25] {magoo} just want to say to guests...histioric mkt last 2 days...how many trading rooms make u SAFE $$ in that environment?
[11:25] {magoo} SAFE key
[11:25] {magoo} i 3 times my daily here
[11:25] {Threei} I prefer to take breakouts after consolidation, not on a spike
[11:25] {dino} you trading safe?
[11:25] {Threei} wow mags
[11:25] {Threei} 3 x daily today?
[11:26] {Geo} wow dino
[11:26] {magoo} yes
[11:26] {Geo} you killing google bidu?
[11:26] {Threei} fantastic job, congrats
[11:26] {magoo} yes
[11:26] {Geo} me at 1x here
[11:26] {magoo} in right now
[11:26] {_coyote} Thank you for pointing that out threei
[11:26] {Threei} just be careful not to squander it
[11:26] {magoo} but i cant post could kill a guest
[11:26] {Threei} put a trailing stop on account
[11:26] {Nemo} rimm taking off
[11:26] {magoo} in bidu 91
[11:27] {Geo} makes sense dino
[11:27] {Geo} oops magoo
[11:27] {Threei} any money made on this kind of days should be framed and put on a wall
[11:27] {Geo} a lo of em too fast to post
[11:27] {magoo} ok out here .96.31
[11:27] {magoo} to many points to figure out
[11:28] {Threei} lol
[11:28] {dino} amzn spike
[11:28] {Geo} hey dino there is an article with a scan on it too....... similar to yours
[11:28] {Geo} http://marketmovers.blogspot.com/2008/10/strategy-session-over-extended-up-move.html
06[11:28] * Threei mails magoo a calculator
[11:28] {magoo} uh..carry the 2..minus the um...6points?
[11:28] {magoo} nope.....5.67?
[11:28] {magoo} nope
06[11:28] * Geo faints
[11:28] {magoo} ...ah 5.32
[11:28] {Geo} thats ok
[11:28] {Geo} 6 was impressive
06[11:28] * Threei mails magoo an abacus
[11:29] {Threei} or is it abakus?
[11:29] {Geo} abackas
[11:29] {dino} framed on wall, no way 3i, goes to bar tab
[11:29] {Nemo} abacus
[11:29] {Geo} i got it
[11:29] {Threei} ok dino... then how about scanning it and framing the print?
[11:29] {Geo} abacchus
[11:29] {magoo} if IF i make call...it will be 100-200 shartes max...and wiggle room of 200 bux stop OK?
[11:30] {Geo} scarrrryyyy
[11:30] {magoo} can make points or get killed if u blow stop
[11:30] {Geo} wo NQ
[11:30] {Threei} yeah, you guys who don't know magoo, be careful with his picks, his personal risk tolerance is not really humane
[11:30] {magoo} indeed
[11:30] {Geo} indeed
[11:31] {magoo} vad told me no pics in room for open house or else
[11:31] {magoo} probation {again..sigh}
[11:31] {Threei} lol... not really true, just asked for disclaimer :)
[11:31] {lisa_jay} How long you been trading Magoo?
[11:31] {Threei} kind of: OK guys, I am insane, keep that in mind when follow me
[11:32] {magoo} dec.1999
[11:32] {magoo} so um..carry the 3..12 years
[11:32] {Geo} sheesh
[11:32] {lisa_jay} With Vad?
[11:32] {Geo} not even 1 here
[11:33] {magoo} uh..8 yrs..wait.....9 yrs dino?
06[11:33] * Threei sends magoo calculator, abacus AND sliding ruler
[11:33] {Geo} no wonder youre killing
[11:33] {lisa_jay} You are holding your own too Geo.
[11:33] {Nemo} might as well toss in a sundial
[11:33] {magoo} started with ding dong
[11:33] {Geo} nope
[11:33] {Geo} i am holding vad's apron
[11:33] {magoo} dino that is
[11:33] {dino} fast drop
[11:34] {dino} fast drop
[11:34] {dino} opps
[11:34] {magoo} how long we been with vad dino??
[11:34] {Nemo} this is turning into a "normal" day. sheesh
[11:35] {Threei} watch AMZN for long on pullback if drops into 50
[11:35] {dino} vad 3 years?
[11:35] {magoo} vad how long i been with ya??
[11:35] {Threei} hmmm... goltta look
[11:35] {Threei} gimme a few
[11:35] {magoo} few what? brews lol
[11:35] {Nemo} Vad just figure out how log you've had that rash
[11:36] {dino} lol
[11:36] {Threei} rofl
[11:36] {magoo} that does it !!!!!!!!!
06[11:36] * magoo slaps Nemo around a bit with a large trout
[11:36] {Threei} from 08/12/2005
[11:36] {magoo} thats 2 nemo
[11:36] {Threei} wow, you are recent arrival
[11:36] {Chaeron} I'm afraid to ask how long Threei....
[11:36] {Threei} we have original members still
[11:37] {Threei} chaeron is one
[11:37] {Threei} since inception
[11:37] {Chaeron} and before that even
[11:37] {Threei} cosmo is another
[11:37] {Threei} on a break today
[11:37] {magoo} i was a lil reckless when i met vad
[11:37] {Nemo} We need adult supervision
[11:37] {Chaeron} yeah.... and now you're just safe and sane, huh?
[11:38] {Geo} i was wondering if chaeron took the prize
[11:38] {Chaeron} in many catagories Geo
[11:38] {Geo} of course :)
[11:38] {Chaeron} mostly for PIA
[11:39] {Geo} pia?
[11:39] {Chaeron} PITA sorry
[11:39] {Chaeron} Pain In The...
[11:39] {Geo} its a calling my friend
[11:39] {Chaeron} Raven's been here for eons
[11:40] {magoo} laserdave must be original
[11:40] {Geo} nah
[11:40] {Threei} no
[11:40] {Geo} he probably was in high schol when vad started
[11:40] {Geo} middle
[11:40] {Threei} laser is from 2004 I think
[11:40] {Geo} no disrespect of course
[11:41] {_Bruce} ffiv trying to break long
[11:41] {Threei} can't believe I run this thing for 8 years already
[11:41] {Chaeron} saw a story about 5 years ago about a 16yo kid that made 6figures before going to school every day... his parents were so proud
[11:42] {Geo} hmmm
[11:42] {Nemo} sellin' in the parking lot before class
[11:42] {Geo} same could who got indited for touting penny stocks?
[11:42] {Chaeron} that was annually, but traded daily...
[11:43] {Chaeron} nooo... he traded from 6:30am til about 8am and then went to school... Northern CA
[11:43] {Chaeron} wish I could get my 7 yo to trade my account... he'd do better than me
[11:44] {Chaeron} then again, Vad's cat does that now
[11:44] {Geo} hehe
[11:45] {Geo} chaer
[11:45] {Geo} dcc
[11:45] {Nemo} oh is that vad's cat. I thought vad had the sense of humor :)
[11:46] {Threei} I do
[11:46] {Threei} it's just not funny
[11:47] {Chaeron} yeah... and your jokes are, huh? :)
[11:47] {Threei} resoundingly not
[11:47] {Threei} but hey... I laugh at them
[11:47] {Geo} wow vad
[11:47] {Chaeron} as bad as your singing
[11:47] {Threei} and that's all I care about
[11:47] {Geo} right on the slow grind up
[11:48] {Threei} should end soon enough though geo
[11:48] {Chaeron} DRYS on 16.87 break?
[11:48] {Chaeron} ok... scratch that one then
[11:48] {Threei} I hate its volatility chaeron
[11:49] {Geo} hey didnt know intelliscan released a mobile version
[11:49] {Threei} can be real killer
[11:49] {Chaeron} yeah... but done well with it... scary tho, you're right
[11:50] {Nemo} gold and silver miners rising
[11:50] {Threei} a lot of volatile stocks out there, but this one has some disgusting quality about it
[11:51] {Threei} SLW into breakeven territory
[11:51] {Threei} dumping second half here makes up for the stop on a first half
[11:51] {Nemo} aem kgc all up over 10%
[11:52] {Nemo} manure companies making a comebac,
[11:52] {Threei} interesting that UAUA i not participating in this party
[11:53] {Threei} anyone's up to try and short it with stop above 13?
[11:53] {dino} dropping
[11:54] {magoo} it has the magoo pattented flatline
06[11:54] * laserdave1 slaps Threei around a bit with a large trout
06[11:54] * Geo slaps laserdave1 around a bit with a large trout
[11:54] {Threei} great... he sneaks in unnoticed again
06[11:54] * laserdave1 slaps Geo around a bit with a large trout
06[11:54] * laserdave1 slaps Chaeron around a bit with a large trout
06[11:54] * magoo slaps laserdave1 around a bit with a large trout
06[11:54] * laserdave1 slaps magoo around a bit with a large trout
[11:54] {Chaeron} morning Dave
[11:54] {laserdave1} good morning
[11:54] {Nemo} The roe is everywhere
[11:54] {laserdave1} more carnage today
[11:54] {magoo} thats quite an entrance bro
[11:54] {Threei} now, who is going to ventilate the room? all this fishy smell...
[11:55] {laserdave1} i just know how to swing the trout...........sorry
[11:55] {_Bruce} magoo vents room w gas
[11:55] {Threei} dave... why isn't UAUA shotable?
[11:56] {Threei} says can't short as per SEC
[11:56] {Threei} must be some error, SEC ban is off
[11:56] {laserdave1} i will try and figure that out
[11:56] {Threei} or just no inventory?
[11:56] {Threei} ty, tel us know pls
[11:56] {hawkfan4} i have it available
[11:56] {laserdave1} is there any other stocks you had that message on?
[11:56] {laserdave1} you can short it hawk?
[11:57] {Threei} tel = let typed by dyslexic
[11:57] {hawkfan4} yep
[11:57] {hawkfan4} wasnt yesterday
[11:57] {laserdave1} hmmm weird ok
[11:57] {laserdave1} i willl check and see whats up with that
[11:57] {Threei} there was one more yesterday with this message
[11:57] {Threei} can't remember symbol
[11:58] {Threei} JPM I think
[11:59] {laserdave1} ok
[12:01] {magoo} fslr vad yesterday
[12:01] {magoo} but ok today
[12:01] {Threei} (US) TREASURY IS CIRCULATING A QUESTIONAIRE ASKING DEALERS WHETHER MORE CAN BE DONE TO CALM MARKETS, INCLUDING AN ALTERED CALENDAR
[12:01] {Threei} huh?
[12:01] {Threei} told you they are going to cancel Monday and October
[12:01] {Threei} and possibly whole fall
[12:01] {dino} michelle carusa-cabrerra looking mighty fine today
[12:02] {Threei} altered calendar?? :)
[12:02] {lisa_jay} CNBC ladies looks dependent on our P&L for the day.
[12:02] {Chaeron} I suggested in the write in area "Mayan Calendar"
[12:02] {dino} hmmm, 4 day week coming
[12:03] {Chaeron} oh heck no... please dino...
[12:04] {lisa_jay} Vad, AMZN getting closer to that 50 level.
[12:04] {magoo} vad..how u think boone pickenms is doing?
[12:04] {Threei} getting killed?
[12:04] {dino} i'm wyou chaer, you want volitility, limit trading days, better if 24/7
[12:04] {Chaeron} exactly
[12:05] {Chaeron} sometimes the opposite of what is evident is what is necessary
[12:05] {Threei} yes lisa... watch NASDAQ though, feeling is it's easy to switch to down here
[12:05] {dino} i.e. the short ban
[12:05] {dino} no horts, no buyers
[12:06] {magoo} i like qid long vad..not in..but stalking that
[12:06] {Threei} yes, and Q short
[12:06] {Threei} stop above 30
[12:07] {Threei} first weakness from here
[12:08] {Threei} another one of those "could take a few tries" plays
[12:08] {magoo} u talking to me
[12:08] {Threei} to Qs
[12:08] {Threei} and whoever is willing to listen to me
[12:08] {Threei} which apparently is not very many {Grin}
[12:09] {peterg} Q or qqqq?
[12:09] {Threei} Qs = QQQQ
[12:11] {_coyote} in Q's small lot
[12:12] {_coyote} stop 29.80
[12:13] {_coyote} out in full 1:1 scalp
[12:13] {_coyote} half
[12:14] {_coyote} out last half 30.04, 2:1 . Thank you Vad.
[12:14] {Threei} ummm
[12:14] {Threei} welcome of course
[12:15] {lisa_jay} :-)
[12:15] {dino} gj wiley e.
[12:15] {Threei} although you played it long while I was thinking short :)
[12:15] {Threei} but hey, you got it right :)
[12:16] {magoo} too funny
[12:16] {magoo} i was thinking sh also
[12:17] {_coyote} no 29.90 1:1 half
[12:17] {_coyote} hey magoo you want to take it outside?
[12:18] {Threei} lol
[12:18] {Geo} hmm
[12:18] {Geo} aggressive guests
06[12:18] * Geo liking it
[12:18] {magoo} sigh
[12:18] {magoo} lol
[12:18] {Geo} see when magoo is over 3x
[12:19] {Geo} he doesnt care anynore
[12:19] {Threei} yeah, making money makes him warm and fuzzy
[12:19] {Geo} nice image vad
[12:20] {magoo} so does all the vodka vad
[12:21] {magoo} its noon here east coaste
[12:21] {dino} something tells me magoo and i are drinking tonight
[12:21] {Threei} and you are still sober??
[12:21] {Threei} running 3 hours behind your schedule I see
[12:24] {_Muddleheaded} Vad, would you consider FLEX a possible JBE candidate?
[12:25] {dino} 3:30 standard schedule 3i. you trying to get me in trouble
[12:25] {Threei} not a perfect one Muddle
[12:25] {Threei} a few things about it
[12:25] {Threei} first, I like JBE to form at the day's high
[12:25] {Threei} not that I ignore others, but day high ones are more effective
[12:26] {Threei} second, in this case, it was .75 break for JBE to trigger,
[12:26] {Threei} but the low of the consolidation range was .68
[12:26] {Threei} and it got broke
[12:26] {Threei} brken
[12:26] {Threei} broken
[12:27] {Threei} there, got it on a third try
[12:27] {Threei} and finally, it's just too narrow
[12:27] {Nemo} put the vodka down before you type, doh!!!
[12:27] {Threei} it breaks .75, next resistance is right there ar .80
[12:27] {_Muddleheaded} O.K. thanks.
[12:27] {Threei} you kidding Nemo? how am I supposed to type then at all?
[12:28] {ese} noticed alot of issues up on very litle volume......selling pressure starting ato abate a little do ya think....????
[12:28] {Nemo} use a hydration pack
[12:28] {ese} for example HITT 197K up 3.00
[12:28] {hawkfan4} GLD running
[12:29] {Geo} vad does open house end today?
[12:29] {dino} re-test in the making imo
[12:29] {Threei} you got tired of keeping your hair combed geo?
[12:29] {Geo} lol
[12:30] {Threei} Qs short had worked on seond try if anyone went for it
[12:30] {Geo} just curious
[12:30] {magoo} my idea
[12:30] {hawkfan4} thank you both :)
[12:30] {magoo} qid long he he
[12:30] {dino} geo doesn't have any hair left
[12:30] {Geo} hey !
[12:31] {Threei} oh I see... you went overboard, put suit and tie on, and now suffocating
[12:31] {magoo} dino just brought in bacon vad, can u smell it
[12:31] {Geo} i have lusticious hair
[12:31] {Geo} just greying after the kids
[12:32] {Geo} i like these new words
[12:33] {ese} lust what???
[12:33] {peterg} lustable
[12:33] {peterg} only formal form
[12:33] {peterg} lusticious
[12:33] {Geo} lutable + luscious
[12:34] {magoo} magoo looking up those words in his pictionary
[12:35] {Threei} hawk, you went for Qs short?
[12:36] {hawkfan4} i did, but with nq
[12:36] {Threei} sure, same thing
[12:37] {Geo} where hawk?
[12:37] {Geo} you use booktrade hawk?
[12:37] {dptl} ssri?
[12:37] {hawkfan4} no
[12:38] {Threei} too extended dp
[12:38] {Threei} it's a silver play
[12:38] {dptl} ok ty
[12:40] {laserdave1} magoo dcc please
[12:41] {dino} oh oh magoo's in trouble
[12:48] {Threei} amazing how action slowed down on what promised to be highly emotionally charged day
[12:52] {_coyote} sold adbe at 23.80 risking 10 cents
[12:53] {_coyote} out 23.70, 1:1 scalp is that funny?
[12:53] {dino} gj
[12:54] {dino} watching ice, mcd
[12:54] {_coyote} Thanks dino!
[12:54] {Nemo} BC made that point of Futures not being indicative because they only indicated incoming sell orders
[12:54] {dino} rig too, if oih turns
[12:56] {Nemo} this gold bounce might not be long lived with the $ up again and oil down
[12:58] {Threei} why funny coyote... valid trade
[12:58] {_coyote} Thank you sir!
[13:01] {magoo} LASER DCC
[13:02] {_coyote} in lvs 6.61 long
[13:03] {magoo} vad, u got anything going?
[13:03] {magoo} was opn phone
[13:03] {Threei} no mags, things narrowed down too much, need something to start happening
[13:03] {_coyote} risking 10 cents sm lot
[13:04] {_coyote} tapped out lvs
[13:05] {Threei} support is 6.50 coyote... I'd kepp stop under it
[13:05] {Threei} until it's not broken, trade is not stopped
[13:05] {Threei} ummm... you'd have to translate that to English... but I guess you got the meaning :)
[13:06] {Threei} now it's stopped
[13:06] {Nemo} it's vadinglish
[13:06] {Threei} also known as pidgin
[13:06] {Nemo} that's actually spelle correctly
[13:06] {Nemo} I did that for you
[13:10] {_coyote} Thank you Threei...here to learn..that is good stuff.
[13:10] {Nemo} PNC buying NCC
[13:11] {Threei} yeah, posted it early in the morning
[13:11] {Nemo} sorry
[13:13] {Threei} anyone took UAUA short mentioned earlier?
[13:13] {_Bruce} amgn at dalily high
[13:13] {Threei} [11:52] {Threei} interesting that UAUA i not participating in this party
[13:13] {Threei} [11:53] {Threei} anyone's up to try and short it with stop above 13?
[13:14] {Geo} nope
[13:14] {Geo} have your pool
[13:14] {Threei} went down over 50 cents
[13:14] {Threei} over 40, sorry
[13:16] {Threei} I wish we got that panic selloff today and be done with it
[13:17] {Geo} looks like down a bit
[13:17] {peterg} and lose the possibility of more pain for longer time?
[13:17] {_Bruce} want to see panic?
[13:17] {Threei} there is no feel of panic to today at all
[13:17] {Threei} lol peter
[13:17] {_Bruce} tell mags abouyt the big wins he missed
[13:17] {Threei} hehe
06[13:18] * magoo slaps _Bruce around a bit with a large trout
[13:18] {_Bruce} zion trying to break long here
[13:18] {Chaeron} me too..missed because of pc probs... and you know I love UAUA Threei
[13:18] {peterg} Magoo;s bellweathers are up, aapl & rimm
[13:19] {dino} up?
[13:19] {Threei} pace picks up
[13:19] {peterg} from open
[13:20] {peterg} yeah lights flash faster, time & sales zoom
[13:20] {_coyote} Vad, short this rally in uaua?
[13:20] {Threei} not clear where
[13:20] {Threei} need some indication other than just 20 cents move
[13:21] {_coyote} 12.60
[13:21] {Threei} why not .70 or .80?
[13:21] {Threei} I mean, it could very well top out here,
[13:21] {Threei} but what is there to indicate that?
[13:21] {_coyote} OK ..thanks.. got your point.
[13:22] {Threei} I am not a fun of arbitrary entries
[13:22] {peterg} or a fan
[13:22] {Threei} or that
[13:22] {peterg} they can be fun
[13:22] {Threei} no structure to setup, no clean indication where to place stop
[13:22] {peterg} but lead to..................
[13:22] {peterg} splat
[13:23] {_coyote} learning..learning thank you
[13:23] {dino} ice sm l wide risky .50
[13:23] {peterg} thats why I joined this club, cz I was going to self-destruct without some structure
[13:23] {_coyote} that is it in a nutshell peterg
[13:23] {peterg} yep!
[13:23] {Threei} now look at its further action:
[13:24] {Threei} it tagged .60 twice,
[13:24] {Threei} effectively for ming mini double top
[13:24] {Threei} little consolidation to define breakdown level
[13:24] {_coyote} OK i'm following you...
[13:24] {Threei} and break of that level will become a shiort trigger with clear stop level above .60
[13:25] {Threei} this is in a nutshell my approach - let the stock to form a readable structured setup
[13:25] {Threei} offering you clear trigger and clear stop
[13:26] {_coyote} would that mean sell around 12.53 trigger?
[13:26] {Threei} no clean nice consolidation so far
[13:26] {Threei} can't tell
[13:27] {_coyote} OK got it.. thanks Vad..lots to learn here.
[13:28] {lisa_jay} Coyote, I am new too. Just got Vads cds and books.
[13:29] {Threei} you remind me lisa... I need to read that too
[13:29] {lisa_jay} Looking forward to digging into them over the weekend...if kids let me.
[13:29] {_coyote} Great lisa..we can lear together..i have books/course also.
[13:29] {Threei} wasn't there a babysitter packed in the box??
[13:29] {lisa_jay} You can borrow mine...if you don't mind pink stains from markers on them.
[13:29] {Threei} you may have gotten incomplete package...
[13:29] {lisa_jay} Ran away once he saw my kids.
[13:30] {magoo} what books u talking about lisa?
[13:30] {Threei} .49 short Qs
[13:30] {_coyote} We learn together also
[13:30] {Threei} if stays below .65
[13:31] {Threei} just a scalp most likely
[13:31] {lisa_jay} Oh, scalping course, and Master Profit Plan.
[13:32] {Threei} stop to above .60
[13:32] {laserdave1} Hey guys i checked into UAUA
[13:32] {laserdave1} it is just hard to borrow today
[13:32] {Threei} OK, so just incorrect message code
[13:32] {laserdave1} it is not per sec
[13:33] {Threei} thought so, ty dave
[13:33] {laserdave1} yes hopefully we can shot it tomorrow
[13:33] {laserdave1} nprobs
[13:33] {_coyote} in q's at 29.50
[13:33] {Threei} careful with advise to shoot it dave
[13:33] {laserdave1} haha
[13:33] {Chaeron} short QQQQ @ 29.47 here
[13:34] {Threei} you can get in troubles
[13:35] {Threei} bands are widening under Qs, should drop more
[13:35] {_coyote} ok risking 15 cents to 29.65
[13:35] {Threei} I'd trail it to above .60 here
[13:36] {Threei} want to keep it tight in jerky market,. even at risk of being shaken out
[13:36] {Threei} if small lot, keep it at original level
[13:37] {Threei} volume dropped significantly on bounce, bodes well so far
[13:38] {Threei} volume increase on drtop
[13:39] {Threei} so far so good
[13:39] {Threei} 1:1
[13:39] {Geo} half out .35
[13:39] {Threei} nice and easy
[13:39] {Threei} stop is never geopardized, easy money
[13:39] {Threei} that's how we like it
[13:40] {lisa_jay} 4 for 4 today Vad...very easy trades. Too bad I decided to eat chicken wings and not trade.
[13:40] {Threei} Geopardized??
[13:40] {_coyote} out 29.35 in full 1:1.5 i think Thank you Vad
[13:40] {Threei} sigh
[13:40] {Threei} welcome guys
[13:40] {Geo} GEOpardise
[13:40] {Chaeron} I wasn't going to say anything
[13:40] {Threei} that's Geo's influence
[13:40] {Geo} see chaeron i told ya word revolves arounfd me
[13:41] {Threei} (as if I need anyone's influence to type badly)
[13:41] {Geo} crap
[13:41] {dino} chicken wings, nice
[13:42] {Threei} one thing is for sure guys... whatever it is you may learn from me it's NOT the typing/spelling skills
[13:42] {_coyote} actually 1:1 on Q's trade
[13:42] {Threei} yes coyote
[13:44] {_Muddleheaded} Why short the Q's and not buy QID?
[13:45] {Threei} same thing Muddle, I just don't always have a chance to type both
[13:45] {Geo} or NQ
[13:45] {_Muddleheaded} O.K. thanks.
[13:45] {Threei} if you prefer QID, understanding of setup I mean to play will give you corresponding levels on QID
[13:46] {Geo} too some at 1:1.5
[13:46] {lisa_jay} QID has wider stops and teleports
[13:47] {Threei} yes, more volatility to it
[13:47] {Geo} heheheh i find it tougher to calculate 1:1 etc in shorts
[13:48] {Geo} subtraction is tough
[13:48] {Threei} sorry geo, I sent to magoo all devices I had to help with that
[13:48] {Threei} calculator, abakus and sliding ruler
[13:49] {Geo} 1:2 ?
[13:49] {Threei} 50 - 30 = 20
[13:49] {Chaeron} in QQQQ s @ 29.47 - out @ 29.20 + 0.27
[13:50] {laserdave1} mags
[13:50] {laserdave1} dcc please
[13:50] {Threei} hope it helps
[13:50] {Threei} wtg chaeron
[13:50] {dino} gj
[13:50] {Threei} or let me spell it out this way:
[13:50] {Geo} in .59 out .18
[13:50] {Threei} 50 - 15x2 = 20
[13:50] {Geo} .49 sorry
[13:51] {Geo} much better vad
[13:51] {Threei} where 15 is original stop size, 50 is trigger
[13:51] {_coyote} Much better to post entry on entry not 10 min later that way magoo
[13:51] {Geo} 31 cents beauty call vad
[13:52] {Geo} 2X !!!
[13:52] {_coyote} won't say it's funny
[13:52] {Threei} but after magoo had troubles figuring out how many years he traded since 1999... I just had to send him all that stuff
[13:53] {Threei} now... imagine us mathematically challenged types trading with fractions {grin}
[13:53] {_coyote} Your right Vad..I am done with that guy.
[13:53] {Geo} ?
[13:53] {Threei} what guy?
[13:53] {Geo} exactly
[13:54] {_coyote} magoo.
[13:54] {_coyote} lol
06[13:54] * Geo goes off in corner to count cents
[13:54] {Threei} careful... magoo is known for being quick on trout
06[13:54] * Chaeron misses fractions
[13:54] {_coyote} not turning my back on him
[13:55] {Threei} be thankful laserdave keeps him busy :)
[13:55] {Geo} and bidu
[13:55] {_coyote} Thanks laserdave!
[13:56] {dino} fdry
[13:56] {Geo} the one advice from magoo really paying out to me
[13:56] {Geo} laying out the tragets
[13:56] {Threei} wow
[13:56] {Geo} thanks magoo wherever you are !
[13:57] {Threei} ADJOURNED SHAREHOLDER MEETING TO WED 7PMET, DUE TO RECENT EVENTS IN TRANSACTION
[13:57] {Threei} no idea what it means for FDRY
[13:57] {Threei} but obviously nothing good, lol
[13:57] {dino} merger off maybe
[13:57] {Threei} didn't know they even planned one
[13:58] {Threei} ADJOURNED SHAREHOLDER MEETING AND VOTE ON MERGER AGREEMENT TO WED 7PMET, DUE TO RECENT EVENTS IN TRANSACTION
[13:58] {Threei} - vote had originally been scheduled for today.{BRCD FULT}
[13:59] {Geo} narrow range day
[14:00] {Threei} FDRY would disagree
[14:00] {Geo} vad you still in Qs?
[14:00] {Threei} nope, I designated it as scalp from the get go
[14:00] {Geo} ok
[14:01] {dino} v sm v wide fdry l .00
[14:01] {dino} too soon
[14:01] {Threei} both crashes, 1929 and 1987 occured in last days of October
[14:01] {Threei} 28 and 29 if I remember correct
[14:01] {Geo} man you old
[14:02] {patience} that's funny geo
[14:02] {patience} lol
[14:02] {Geo} he remembered?
[14:02] {Chaeron} soooo reshort QQQQ and go long QID til Halloween? :)
[14:02] {patience} i'm sure
[14:02] {Threei} and week days wise, fallen on Mon and Tue
[14:02] {Threei} having 27 -28 these Mon-Tue... fairly ominous :)
[14:03] {Geo} i do have this put spread on the Qs on
[14:03] {Geo} did i mention the strikes?
[14:03] {Threei} and important thing to add:
06[14:03] * Threei slaps Geo around a bit with a large trout
[14:03] {dino} stopped fdry -200
[14:04] {Geo} UAUA
[14:06] {Geo} shesh fdry spiked up now
[14:07] {Geo} any news UAUA?
[14:08] {Threei} no, why?
[14:08] {dino} messed up geo
[14:08] {Geo} PNC dino
[14:08] {lisa_jay} Thanks guys. Off to Dr's for Kids appt.
[14:08] {dino} gut says up, but from where fdry
[14:08] {lisa_jay} Have a good weekend.
[14:08] {dino} cya lisa
[14:08] {Geo} cya lisa
[14:08] {Threei} take care lisa, have a good one, see you on Monday
[14:08] {magoo} bye lisa
[14:08] {_coyote} cya lisa
[14:09] {dino} pnc?
[14:09] {Threei} 2 hours till market close, and we may get more action on last hour
[14:09] {Threei} so let me ask if anyone of guests have any questions
[14:09] {magoo} u in anything vad, was distractred
[14:09] {Threei} no mags, Qs short earlier, closed already
[14:09] {magoo} ok
[14:09] {Geo} i am long small uaua
[14:09] {magoo} what u thinking?
[14:10] {Threei} me? thinking?
[14:10] {Threei} that's flattering assumption
[14:11] {Threei} if no questions, two things I want to say
[14:11] {Threei} 1. hope we handled these two days well, guiding through the rough waters safely and profitably
[14:12] {Threei} 2. If you feel like getting more, you have 1 week free trial opportunity
[14:12] {magoo} u did awesome job vad in difficult environment
[14:12] {Threei} ty mags
[14:12] {magoo} and i do not like to give out praise
[14:12] {Geo} out on spike 10 cents
[14:12] {Threei} boy, don't I know that
[14:12] {magoo} i negative reinforcement kind of magoo
[14:12] {Geo} heheheh
[14:13] {Threei} trout is what I get
[14:13] {Geo} thanks vad.... 2x on a range da y like today.... I love it
[14:13] {Threei} welcome sir
[14:14] {dino} fdry v sm l .00, last try
[14:14] {Geo} DXD dino
[14:14] {dino} regarding newbies, hope we helped and you learned something.
[14:14] {magoo} guests, we'll make your room fee in 1 day, rest of month great education and money, plus bad taste jokes
[14:14] {Geo} lol@magoo
[14:14] {Threei} mine are exception
[14:15] {Threei} mine are good
[14:15] {Threei} that's my story and I'll stick to it
[14:15] {Threei} well... at least I laugh at them
[14:19] {_coyote} Vad, I have question..do you subscribe to any news services and if so
[14:19] {_coyote} which ones.
[14:20] {Threei} yes
[14:21] {Threei} Trade The News
[14:21] {Threei} we have a banner on our homepage
[14:21] {Threei} use it to get free trial
[14:21] {_coyote} Thank you.
[14:21] {Threei} should be somewhere at the bottom of page if I remember correctly
[14:22] {_coyote} i'll find it ..
[14:24] {Threei} lol, even FDRY slowed to a crawl
[14:24] {Threei} you still in dino?
[14:24] {Threei} or is it halted?
[14:24] {Threei} looks weird somewhat
[14:26] {dino} double stop on it, things broke
[14:27] {Threei} hmmm... something seems not right with my internet connection
04[14:27] -} [Threei] PING
[14:28] {Threei} [14:28] [Threei PING reply]: 22secs
[14:28] {Threei} yikes
[14:28] {Geo} wow
[14:28] {Geo} 0 here
[14:29] {Threei} that's why my FDRY seemed so slow I guess, lol
[14:34] {dino} heck of a bounce
[14:35] {Geo} DXD
[14:36] {dino} y
[14:37] {Threei} trying to reset router, be right back - hopefully
[14:41] {Threei} that's better
[14:42] {Threei} missed Qs .50 long I see
[14:44] {Threei} am I here?
[14:44] {Geo} y
04[14:44] -} [Threei] PING
[14:44] {Threei} whew
[14:44] {Geo} but since yo missed .5
[14:44] {Geo} we are ignoring u
[14:44] {Threei} oh, that's fine
[14:45] {Threei} I am quite comfortable with being ignored
[14:45] {Threei} PIMCO'S BILL GROSS: EXPECTS RECESSION TO BE 'LIKELY'
[14:46] {Geo} those germans !
[14:46] {Threei} sure, send market to selloff mode again Gross
[14:47] {Threei} watching NFLX for possible short
[14:47] {_coyote} OK if you would have taken the Q trade at .5 , Vad where would stop placement been?
[14:47] {Threei} 19 trigger if stays under 19.15, half lot
[14:47] {Threei} under .40 at the moment, coyote
[14:48] {_coyote} Thank you sir
[14:48] {Threei} sure
[14:48] {Threei} there were two plays actually,
[14:48] {Threei} one is breakout of .50,
[14:49] {Threei} second is pullback into it, but important thing is:
[14:49] {Threei} second pullback I wouldn't buy
[14:49] {Threei} too many retests of support, not good
[14:49] {Threei} more than that, this bounce into .50 is actually short
[14:50] {Threei} ugh, a bit late
[14:50] {Threei} no chasing
[14:50] {_coyote} OK ....learning another lesson..alright i see that
[14:50] {Threei} NFLX held .20 test
[14:51] {Threei} and same way, second bounce into .50 if happens is not a short anymore
[14:51] {Threei} here it is
[14:52] {_coyote} Why second bounce is not a short?
[14:52] {Threei} break of support is a short trigger,
[14:52] {Threei} bounce into support is a short,
[14:52] {Threei} former support I mean, now resistance,
[14:52] {_coyote} Got it! Thank you.
[14:53] {Threei} but second bounce and tagging it is not good anymore,
[14:53] {Threei} too much strength
[14:53] {Threei} same loging as earlier with long off it
[14:53] {Threei} see how it went to .60?
[14:53] {Geo} nflx looking strong vad
[14:53] {_coyote} Yes.
[14:53] {Threei} bumping iinto resistance
[14:53] {Threei} NFLX I mean
[14:54] {Threei} if breaks it, invalidated as short
[14:54] {Geo} sp by your logic no shorting pullback here but wait for breakdown
[14:54] {Threei} [14:53] {Threei} same loging {--- that was supposed to be "same logic"
[14:54] {Threei} on NFLX?
[14:54] {Geo} yeah
[14:55] {Threei} oh, you can try and enter aggressively on first bounce,
[14:55] {Threei} less likely to work on second
06[14:55] * Geo is in PP mode
[14:55] {Threei} andfthis was second
[14:55] {dino} pp mode? bathroom
[14:55] {Threei} lol
[14:56] {_coyote} I am following this..what a load to learn Vad
[14:56] {Geo} man dino
[14:56] {Geo} ohhh man
[14:56] {Threei} it's not very complicated coyote...
[14:56] {Threei} certainly not a rocket science
[14:56] {Geo} ProfitProtection
[14:56] {Threei} but to confuse you a bit more for now,
[14:56] {dino} ahhh, good deal. when up get stingy
[14:56] {_coyote} I just don't want to get laughed at
[14:56] {Threei} this second retest and break is two things in one:
[14:56] {_coyote} lol
[14:57] {dino} fdry now works
[14:57] {Threei} first is invalidation of the original setup,
[14:57] {Threei} and second is fading of the opriginal setup
[14:57] {Threei} meaning, going against it
[14:57] {Threei} in Qs case that would be long on .50 break
[14:57] {Threei} in NFLX case that would be long on .20 break
[14:58] {dino} rally
[14:58] {Geo} ncie vad
[14:58] {Threei} logic is simple: if setup is violated, opposite side took opver
[14:58] {Threei} everyu setup can be played in different ways
[14:58] {Threei} envision JBE
[14:58] {Threei} break of uppoer limit is long, right?
[14:59] {Threei} break of lower limit is invalidating the JBE
[14:59] {Threei} and can serve also as a short indication
[14:59] {Threei} Chaeron often plays this fade of my setups if they get invalidated
[14:59] {Geo} sneaky !!
[14:59] {Geo} didnt know that
[14:59] {Threei} that's him
[14:59] {Threei} sneaky is his middle name
[14:59] {Chaeron} well....... true.,....
[15:00] {Threei} break of .20 on NFLX would work
[15:00] {_coyote} Alright that is a new play with Chaeron..
[15:00] {Threei} and break of .50 on Qs would work beautifully
[15:00] {Threei} although in all fairness, there is no way I would have held it that long
[15:00] {magoo} back
[15:00] {magoo} we in anything vad?
[15:00] {Threei} would havce scalped like 30 cents ago, lo;l
[15:01] {Chaeron} it's logical... I mean if it isn't going to work one way, it's because that set up is going to fail. So be fast and open to shifting to other side...
[15:01] {_coyote} Following you on that
[15:01] {Chaeron} and I normally only look for a scalp on those
[15:01] {Threei} wow, NFLX 30 cents
[15:01] {_coyote} Would that be 1:1 Chaeron
[15:02] {Chaeron} yes
[15:02] {_coyote} Thanks
[15:02] {Geo} do you play QLD vad?
[15:02] {Threei} I don't go into these things on each given trade, too much to type,
[15:02] {Threei} but if you read TTR, you saw all these variations
[15:02] {Chaeron} you will get feel... all is then reflex and instinctual, not thought about
[15:02] {Threei} no Geo
[15:02] {Threei} nice mover though
[15:03] {_coyote} Will take awhile from the book to real time for me
[15:04] {Chaeron} not long... trust me... the whole thing about this room is that Vad can show you how to not only do but evolve as the markets evolve. That's what keeps a trader around and in the black consistantly over the long term
[15:05] {dino} out ice 59.70, +1.20
[15:05] {Geo} yeah
[15:05] {_coyote} Thats good new on both counts
[15:05] {Geo} lets hope he doesnt retire to alaska or something
[15:05] {Chaeron} by that time, you'll be able to run this room geo
[15:05] {Threei} alaska?
[15:05] {Threei} too cold
[15:05] {Geo} well you did visit !
[15:05] {Chaeron} heard you liked Sarah Palin :)
[15:06] {Geo} well with her new bling who wouldnt
[15:06] {Threei} don't confuse tourism for immigration, as old joke goes :})
[15:06] {dino} sarah could be hot
[15:06] {Geo} tell that in LA
[15:06] {Geo} "could" dino?
[15:07] {Threei} watching Qs for bounce
[15:07] {dino} they need to let her dress it now, throw on some contacts, you know
[15:07] {Threei} 28.80 roughly
[15:07] {_coyote} It seems as though if you subscriber you need to post entry and exit times but if
[15:07] {Geo} missed ;(
[15:08] {_coyote} your a guest you up to something funny if you don't
[15:08] {Threei} nah coyote
[15:08] {Threei} it's a oersonal choice
[15:08] {Threei} we have members who speak once a year if that
[15:08] {dino} keeps me tight w/stops coyote
[15:09] {Threei} some want verification,
[15:09] {Threei} some use it as a way of self control,
[15:09] {_coyote} OK i'll buy that
[15:09] {Threei} feeling of bweing watched makes you disciplined
[15:09] {dino} i am the 2nd group
[15:09] {Threei} some just brag
06[15:09] * Threei is looking around waiting for someone to volunteer
06[15:10] * Geo heh
[15:10] {_coyote} OK clear on that
[15:10] {Threei} and some simply trade and never talk to me
[15:10] {magoo} geo's bad
[15:10] {Threei} maybe they hate me, I don't know :)
06[15:10] * Geo daily is 10$ so i make 10X daily
[15:10] {magoo} mine 15 dollar but made 3x
[15:11] {Geo} nice magoo
[15:11] {magoo} i hate u lol
[15:11] {Geo} youre always an inspiration
[15:11] {Geo} lol
[15:11] {Threei} I know mags
[15:11] {Threei} fish slime all over me speaks volume
[15:11] {magoo} unless u give me a winner here..then i luv u
[15:11] {ese} gotta figure that funds and instituions will probably start buying end of this month.......prices are lookin too good
[15:11] {Geo} speaking of fish slimes
[15:11] {Geo} http://online.wsj.com/article/SB122480233710964683.html
[15:12] {Geo} excellent article on sushi chef bullies and that culture
[15:12] {Threei} Qs bounced exactly from .80
[15:12] {Threei} too faasdt for entry or someone got it?
[15:12] {magoo} not enough want pointer or hate u
[15:12] {Geo} missed
[15:12] {Geo} was at 88 so didt chase
[15:13] {dino} and 100 pt drop
[15:16] {Threei} Short Setup: QQQQ .75 trigger if stays below .90
[15:16] {Threei} half lot
[15:16] {Threei} (needless to say)
[15:18] {_Bruce} thats 5 k only folks
[15:18] {Threei} yeah
[15:18] {Geo} invalid vad?
[15:19] {Threei} invalidated for now, but if consolidates for couple min more and breaks .75 will be valid again
[15:19] {Threei} right away, not sure
[15:19] {Threei} kind of dicey
[15:19] {_coyote} in at 29.75
[15:19] {_coyote} on a stop
[15:20] {_coyote} out here
[15:20] {Threei} confused
[15:20] {Threei} what "on a stop" means?
[15:20] {_coyote} no idea what i am doing but it worked
[15:20] {Threei} OK :)
[15:21] {_coyote} sell stop
[15:21] {Geo} ah]
[15:21] {peterg} +.08 ty
[15:21] {Threei} welcome
[15:21] {_coyote} Thank you sir.
[15:21] {Threei} careful here guys, things become fast and jerky again
[15:21] {Threei} Qs look like short on bounce
[15:22] {_coyote} Again?
[15:22] {Threei} wanted closer to .90
[15:23] {Threei} first weakness friom here
[15:23] {Threei} in 30
[15:23] {Threei} stop above 30.10
[15:24] {Threei} half out .84
[15:24] {Threei} stop just above 30
[15:24] {_coyote} in 29.96 Q's s
[15:25] {_coyote} out 29.85
[15:25] {_coyote} Can't type fast enough
[15:26] {Threei} if you can trade fast enough, that's what matters :)
[15:26] {Threei} die market
[15:26] {Threei} {market} you don't like me :(
[15:27] {_coyote} OK 1:1 on that trade
[15:27] {Chaeron} QQQQ s 29.96 in, out 29.85 . got nervous
[15:27] {_coyote} Me too Chaeron
[15:27] {Threei} some are soo fragile...
[15:27] {Threei} chaeron is just a violet
[15:28] {magoo} magoos a rose..ask patience :)
[15:28] {Threei} shrinking one too
[15:28] {magoo} HEY
[15:29] {Threei} I can feel a Seinfield moment coming
[15:29] {dino} omri
[15:29] {dino} phase ii, may be worth short
[15:30] {magoo} "they shrink"elaine
[15:30] {Threei} hehe
[15:30] {dino} missed it
[15:30] {Threei} Ok Qs, you established little downtrend... follow through now, will ya?
[15:30] {dino} and she says"i don't know how yo walk around w/it"
[15:31] {Threei} looking to cover under .70
[15:31] {Threei} out .67
[15:32] {Threei} +.33
[15:32] {dino} any newbies coming back next week?
[15:32] {Threei} me
[15:32] {_coyote} I will be back dino for the trial period to start with
[15:33] {dino} mgood, i wish you much success
[15:33] {_coyote} If it is alright with Vad?
[15:33] {Threei} lol... why not
[15:33] {dino} now if i could get magoo to stop throwing candy at me
[15:33] {magoo} i hope too if i don't get blown away on my goog short here lol
[15:33] {_coyote} Thank you dino have been very supportive today
[15:33] {Threei} trial at http://www.realitytrader.com/trial.html
[15:34] {Threei} and our daily logs are at http://www.realitytrader.com/tradinglog
[15:34] {Threei} posted every day after market
[15:34] {dino} np, we all help ewach other
[15:34] {_Bruce} get him to switch to beer now dino
[15:34] {dino} bruce, whers my top on omri for short?
[15:34] {dino} beer in 25
[15:34] {_coyote} I have followed the daily trade logs
[15:35] {dino} for awhile (days?)
[15:35] {_Bruce} its hit dino - too late on that one imo
[15:35] {dino} 2nd top
[15:35] {Threei} did we have any single stop today on calls??
[15:35] {_coyote} for about 2 weeks dino but alot different trading in the room
[15:36] {dino} i did vad, but playiong my own junk
[15:36] {Threei} I know... but your junk is very profitable :)
[15:36] {dino} today, indeed it was 1.6 area
[15:36] {Threei} you know... one man's junk...
[15:37] {_coyote} Only stop i had was on one of my calls
[15:37] {Threei} with Internet going down and missing some of my own plays, not sure about all the calls but seems to me 100% today
[15:37] {dino} nothing wrong w/stops, they keep you in game
[15:37] {dino} and to quote myself; profits=luck and stops=skill
[15:38] {Threei} btw, all know about educational part of blog?
[15:38] {magoo} oy
[15:38] {magoo} hate that part lol
[15:38] {Threei} http://www.realitytrader.com/blog/
06[15:38] * Threei slaps magoo around a bit with a large trout
[15:38] {dino} ouch athn
[15:38] {magoo} sh goog 338.25
[15:38] {Threei} make sure you read it guys... a lot of things that will put many diff aspects in clear perspective
[15:39] {magoo} [15:34] {magoo} i hope too if i don't get blown away on my goog short here lol
[15:39] {magoo} DO NOT TRADE THIS
[15:39] {_coyote} I have read some of the blogs read the rest over weekend
[15:39] {Threei} cool
[15:39] {dino} magoo is like a rat to cheese
[15:39] {Threei} good to know I don't write it for nothing
[15:40] {dino} i could put a starburst in a rat trap and he would lose a finger
[[15:40] {magoo} ah dino..but remember
[15:41] {magoo} early bird gets the worm....but 2nd mouse gets the cheese
[15:41] {Geo} meat and cheese !
[15:42] {Threei} 2 and half buck mags
[15:42] {dino} mmmm
[15:42] {Threei} good one
[15:43] {magoo} out
[15:44] {dino} hmmm, just remember uyg still open
[15:44] {_Bruce} calling it a day
[15:44] {_Bruce} good to see you all
[15:44] {_Bruce} take care
[15:44] {magoo} BRUCE WAIT'
[15:44] {Threei} take care bruce, good to see you
[15:44] {_Bruce} and thanx for invite vadster
06[15:44] * magoo slaps _Bruce around a bit with a large trout
[15:44] {_Bruce} lol
06[15:44] * _Bruce slaps magoo around a bit with a large trout
[15:44] {Threei} as if you didn't know what was coming :)
[15:44] {_Bruce} take that
[15:44] {_Bruce} yes
[15:44] {dino} lol
[15:44] {_Bruce} got him back though
[15:45] {_Bruce} it's about 3 to one for me anyway
[15:45] {Threei} but you unholstered your trout as soon as you saw that "wait"
06[15:45] * _Bruce slaps magoo around a bit with a large trout
[15:45] {_Bruce} there - just for good measure
[15:45] {_Bruce} have a good weekend all
[15:45] {dino} u2 bruce
[15:45] {_Bruce} hey dino
[15:45] {_Bruce} miss trading w you
[15:46] {_Bruce} trade safe
[15:46] {Geo} hmm we have someonce called test
[15:47] {dino} thx man, be good
[15:48] {Geo} bya all and thanks
[15:48] {Threei} take care Geo
[15:48] {Threei} Ok guys, thank you all,
[15:48] {peterg} ttfn!
[15:48] {peterg} not a symbol
[15:48] {Threei} thanks for dropping by for our open house
[15:49] {hawkfan4} cya all, have a good weekend
[15:49] {Threei} hope it was enjoyable andprofitable
[15:49] {Threei} have a great weekend
[15:49] {magoo} good job vad
[15:49] {peterg} got to increase size
[15:49] {peterg} of shares
[15:49] {dino} ttfn, lol
[15:49] {Threei} see you next week, residents and those wo join a trial
[15:49] {dptl} have a good weekend all :)
[15:49] {peterg} residents of the asylum!
[15:50] {dino} cya dp
[15:50] {dino} i prefer jungle
[15:51] {peterg} come to think of it, i do too
[15:51] {_Case} Thank you Vad. It's been a very educational two days. In the worst market conditions of the century.
[15:51] {_Case} (for now)
[15:51] {peterg} so far!
[15:52] {Threei} good to hear you liked it Case
[15:53] {Threei} I believe we handled it well
[15:53] {Threei} safe and profitable
[15:53] {_Case} Honestly, I think this is the only way to navigate these markets.
[15:53] {dino} i agree case
[15:54] {_Case} Plus it does wonders for your psyche
[15:54] {dino} holding is destroying aloit of people
[15:54] {dino} alot
[15:54] {Threei} making money always does {G}
[15:55] {_Case} Indeed. But being that fast (or being that fast when you need to) is the only defense against overnight games played by the big boys
[15:55] {_Case} or world financial system collapse, for that matter
[15:56] {_Case} whatever is this thing we are witnessing anyway
[15:56] {dino} chaos
[15:56] {dino} out uyg .20, +.20
[15:56] {dino} stop hit
[15:59] {dino} thats it for me. thanks all, nice way to finish week
[15:59] {dino} magoo, grab some brews
[15:59] {magoo} me too i need a brew
[15:59] {magoo} poet
Friday, October 24, 2008
Thursday, October 23, 2008
Oct 23 00:00:01 2008
RealityTrader is open for guests for another day, Fri Oct 24. Just download a connector at http://www.realitytrader.com/rtc.exe and drop by with any username and password.
Session Time: Thu Oct 23 00:00:01 2008
[07:38] {Nemo} Is anybody out there
[07:44] {Threei} Good morning sleepless souls
[07:44] {Threei} gosh... it's 4:44 am
[07:44] {Nemo} At my age, sleep is a luxury that doesn't come easy
[07:45] {Nemo} Forgot, your on the left coast
[07:45] {Threei} ok... but to yell that loud that early? :)
[07:45] {Threei} kidding
[07:45] {Threei} lemme get that coffee
[07:45] {Nemo} I'm not a chat afficianado...don't know what I'm doing
[07:47] {Threei} it's easy... type here for conversation with evceryone, doubleclick on my nick and type in new window that pops up to talk to me privatelty
[07:48] {Nemo} you referred to yelling...I know in blogging capital letter are considered yelling. I don't have that access
[07:49] {Threei} nah, that just was my cranky morning side, lol
[07:49] {Nemo} oh...your evil twin :)
[07:49] {Threei} futs look ominous so far
[07:50] {Threei} NQ - 19, SP -17
[07:50] {Threei} and ticking
[07:50] {Nemo} when I saw low positives last night I thought it would be a bad day.
[07:51] {Nemo} Haven't heard much about Lehman CDSs settlements. I wonder how much of yesterday was liquidation around that issue
[07:52] {Threei} well, we are so dangerously close to breakdown level, lows of Oct 10 and 16, it starts acting like a magnet
[07:52] {Threei} and iof broken...
[07:52] {Threei} let me look, I posted it yesterday
[07:53] {Nemo} IMO: P/Es have to get down to the 70s lows, and how much of these CDSs have to be wrung out, meaning more liquidations
[07:54] {Threei} [14:20] {Threei} $72B OF CREDIT SWAPS HAVE REPORTEDLY SETTLED WITHOUT INCIDENT THROUGH SELLERS PAYING $5.2B
[07:56] {Nemo} POT trumped earnings but outlook cloudy, trading up 5%. Won't last long.
[07:57] {magoo} morning
[07:57] {Threei} magoo :)
[07:57] {Threei} POT is glorified manure company
[07:58] {Nemo} You ever hear the parable about when the different parts of the body were discussing who should be boss? Manure is very important
[07:58] {Threei} yes, lol
[07:59] {Threei} (RU) S&P REVISES RUSSIA OUTLOOK TO NEGATIVE
[07:59] {Threei} {Russia} Fine, be that way... who to invade next?
[07:59] {Nemo} Russia is a few cities and swamp
[08:00] {Threei} yeah, but one of those cities has a lot of bling
[08:00] {Nemo} Garden Circle. 3 miles of money
[08:00] {Threei} yup
[08:01] {Nemo} Yeah, but cross the bridge...bad day...
[08:01] {Threei} Jobless claims in 28 minutes
[08:01] {Nemo} ADP numbers?
[08:02] {Threei} last 461K, continuing 3.282M
[08:03] {Nemo} LIBOR drop slows 3.535
[08:03] {Threei} after close earnings..,. KLAC, MSFT, GNW, WEN
[08:04] {Nemo} NOV just reporting
[08:04] {Threei} (CA) TO PROVIDE INSURANCE ON WHOLESALE BANKIN BORROWING
[08:05] {Threei} wow
[08:05] {Threei} canadian way to unfreeze credit market?
[08:05] {Threei} to take risk out of it completely?
[08:05] {Nemo} Lemmings doing same thing around the world can you say moral hazard...
[08:05] {Threei} I can feel a lot of unintended consequences coming
[08:06] {Nemo} Must be that 3rd eye talking :)
[08:06] {Threei} lol
[08:07] {Threei} just imagine how wide the gates are being open to lending influenced by greed or corruption, when risk is being completely erased
[08:07] {Nemo} You mean just like before...nahhh
[08:10] {Threei} PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET
[08:10] {Threei} - Expectations for initial claims are 468K v prior release of 461K
[08:10] {Threei} - Continuing claims seen at 3.715M v prior 3.711M.
[08:12] {Nemo} DOW profits down, Sales down
[08:12] {Threei} SAUDI ARABIAN OIL MIN: OIL PRICES WILL BE DETERMINED BY MARKET
[08:13] {Nemo} Hahah...I thought they'd play ball
[08:14] {Nemo} This will keep Chavez and Iran at bay, and help keep the price of gold down
[08:14] {Threei} as long as their cuts are reasonably within theior current surplus, they just don't matter
[08:14] {Nemo} Saudi needs $30 oil to pay their bills...more is gravy
[08:14] {magoo} vad, dcc
[08:14] {Threei} and to cut below that trying to create lack of oil, in current situation?
[08:15] {Threei} won't happen, IMO
[08:15] {Nemo} Politically dangerous
[08:16] {Nemo} Gold down again $24
[08:18] {Threei} BALTIC DRY BULK INDEX DOWN 5.9%, 14TH STRAIGHT DECLINE
[08:22] {Threei} be back in 5
[08:27] {Threei} IRAQI OIL MINISTER: OPEC PARTICIPANTS ARE BACKING PRODUCTION CUT, INCLUDING SAUDI ARABIA
[08:27] {Nemo} Yeah, but how much?
[08:29] {Threei} jobless claims in 2 min
[08:29] {Threei} in 1
[08:30] {Threei} NTITAL CLAIMS 478K V 468KE,
[08:30] {Threei} CONTINUING CLAIMS 3.72M V 3.715ME
[08:30] {Threei} - Prior Initial Jobless Claims revised from 461K to 463K
[08:30] {Threei} - Prior Continuing Claims revised from 3.71M to 3.73M
[08:31] {Threei} no immediate reaction by market
[08:32] {Nemo} DUG up oil basically unchanged on oil announcement
[08:32] {Threei} UAE: OPEC WILL DISCUSS OUTPUT CUT AT FRIDAY'S MEETING
[08:33] {Nemo} Mmmmh will they announce on Friday, or another weekend where you can't lay bets
[08:34] {Threei} somewhat encouraging how market takes jobless claims so far
[08:35] {Nemo} Getting blase about bad news
[08:40] {Threei} AMERICAN TECH RAISED AMZN TO HOLD FROM SELL, PRICE TARGET: $40
[08:42] {Threei} {AMZN} what kind of upgrade is that
[08:43] {Nemo} The "I don't know what I'm talking about, but I'll fake my expertise" upgrade
[08:45] {Threei} you can almost feel how desperately market is trying to back off this deadly edge, lows of 10/10
[08:50] {Threei} looks like we are in for the wild ride again for these two days
[08:51] {Threei} EMERGING MARKET CURRENCIES OFF SESSION LOWS ON CHATTER THAT IMF WILL PROVIDE $1T AID PACKAGE
[08:51] {Threei} 1T eh?
[08:52] {Nemo} Where's the IMF getting the money. The US is the IMF
[08:52] {Threei} monopoly money is being thrown around
[08:52] {Threei} any amounts are available, just ask
[08:52] {Nemo} Pesos??? I think we're down to rubles?
[08:53] {Threei} still not at mongol tougricks stage yet
[08:53] {Nemo} defensive???
[08:53] {Threei} backed by endless herds of cattle
[08:53] {Nemo} Love that kumis...
[08:53] {lisa_jay} Good Morning.
[08:54] {Threei} lisa :)
[08:55] {Nemo} lvlt loss narrows bid .35 ask .37 close.23
[08:56] {Threei} a bit too narrow for a day traading candidate
[08:57] {Nemo} would expect it to fade nicely today
[08:58] {Onix} Good morning all
[08:58] {Threei} Onix :)
[08:59] {Threei} markets are upticking
[09:00] {Threei} against another bad set of jibless numbers
[09:00] {Threei} jobless too
[09:02] {Threei} AMGN upticking
[09:02] {Threei} announced decent earnings and guidance yesterday
[09:02] {Threei} BC
[09:02] {Threei} REPORTS Q3 -$6.70 V -$0.50E (INCLUDES ITEMS), R $1.04B V $1.16BE
[09:03] {Threei} wow
[09:03] {Threei} -$6.70 V -$0.50E
[09:04] {lisa_jay} JBLU up
[09:04] {Threei} 07:16am [JBLU] Reports Q3 -$0.02 v -$0.04e, R $902M v $899.3Me
[09:05] {Threei} 5.25 is two days resistance for JBLU
[09:05] {Threei} was trying to break it yesterday when market selloff came and took it away from breakout level
[09:05] {Threei} SPOT GOLD BREAKS BELOW $700/OZ FOR FRESH 13 MONTH LOWS
[09:05] {Threei} gold is getting killed
[09:08] {Geo} gm
[09:09] {Threei} geo :)
[09:09] {dino} gm all. end of days again
[09:09] {Threei} dino :)
[09:11] {Threei} JBLU
[09:11] {Threei} CEO: WE ARE COMMITTED TO NO CAPACITY GROWTH IN 2009 - CONF CALL
[09:13] {Threei} OK guys, first, welcome to all gusts,
[09:13] {dino} lol. we are committed to not growing
[09:13] {Threei} move your chairs closer,
[09:13] {Nemo} I'm sensitive about trout
[09:14] {Threei} just don't touch that palm tree in the corner please, last time around too many cigarette butts in the pot damaged it
[09:14] {Threei} we have a rule about not trouting the guests
[09:14] {Threei} although we do break our rules frequently
[09:15] {Threei} second, let's form our working assumptions for the day
[09:15] {Threei} pattern lately was:
[09:15] {Threei} some selling at the opne, steady climb for a few hours, then sharp selloff closer to end of day
[09:16] {Threei} let's go with that for now, with one necessary comment:
[09:16] {Threei} we are very close to a dangerous breakdown level
[09:16] {Threei} so markets are likely tio be even more nervous
[09:17] {Threei} let's for now keep our bets to half lot unless stock is very thick and stop is fairly tight
[09:17] {Threei} alert format includes trigger for a trade, condition and stop level
[09:17] {Threei} like this:
[09:18] {Threei} Long Setup: ABCD 30.01 if stays above 29.90
[09:18] {Threei} 30.01 is a trigger,
[09:18] {Threei} breakdown of 29.90 is invalidating level if broken before triggering
[09:18] {Threei} and stop level if broken after
[09:18] {ese} good morning
[09:18] {Threei} ese :)
[09:19] {Threei} sometimes plays are more discretionary than that,
[09:19] {Threei} then alerts are somewhat fuzzy,
[09:19] {Threei} like:
[09:19] {ese} morning vad...and welcome the members to the board bomer buce nemo et al
[09:19] {ese} new members
[09:19] {Threei} ABCD is a bounce candidate, likely off 19.50 level, watch for nasdaq strength to guide entry
[09:20] {_Bruce} morning all
[09:20] {Threei} bruce :)
[09:20] {Threei} any questions so far?
[09:20] {_Case} Good morning Vad. and team.. thanks for the open house :-)... Question: How do you size "lot" in terms of your total capital per trade?
[09:20] {Threei} don't hesitate to ask if you get any
[09:20] {Threei} good morning case
[09:21] {Threei} we go with risk tolerance
[09:21] {Threei} idea isd:
[09:21] {Threei} you define how much you are willing to lose on any given trade
[09:21] {Threei} industry standard is 1-2% of your trading account
[09:21] {Threei} from here, having your stop loss on particular setup
[09:21] {Threei} you figure out lot size
[09:22] {Threei} example:
[09:22] {Threei} you are willing to lose no more than 200 on a trade,
[09:22] {Threei} stop size is 20 cents,
[09:22] {Threei} you can go with about 1000 share IF stock is thick enough so slippage is not an issue
[09:22] {Threei} when you deal with thin volatile traders, like RIMM,
[09:23] {Threei} no way you can count on no slippage
[09:23] {Threei} so you cut down your size
[09:23] {Threei} I usually iclude this evaliuation in alert
[09:23] {_Bruce} morn vadster
[09:23] {Threei} saying "half lot" or small shares"
[09:24] {ese} bruce...
[09:24] {_Bruce} howdy ese
[09:24] {Threei} for the open, considering volatility, let's keep them all to half lot
[09:24] {ese} vads a typing monster this morning......
[09:25] {Nemo} amazing with that accent
[09:25] {dptl} good morning all
[09:25] {Threei} youmean MIStyping monster?
[09:25] {Threei} dp :)
[09:25] {ese} dp!!!!!!
[09:25] {dptl} :)
[09:26] {_Case} Thanks Vad.. perfectly clear. Followup question: Are you / the regulars here sticking to 1% risk per trade, 0.5% or something higher?
[09:26] {Threei} I am generally keeping it within 1-2%
[09:27] {Threei} as for regulars... they all found and destroyed spy cameras I had installed in their offices... can't tell aymore
[09:27] {_Case} :-)
[09:27] {Nemo} once a kgb guy
[09:27] {Threei} lol
[09:28] {Threei} watching UAUA
[09:28] {ese} 1-2% for me as well
[09:29] {Threei} usually fast one at the open
[09:29] {Threei} sharp dive under 14 if happoens, will be buying opportunity
[09:29] {Threei} it often does that
[09:29] {Threei} consequent run is usually fairly impressive
[09:30] {Threei} open we are
[09:30] {Threei} market upticking
[09:30] {Threei} Long Setup: UAUA 14.20 if stays above 14
[09:30] {Threei} half lot
[09:30] {Threei} that was too fats, don't chase
[09:31] {ese} bstop CTXS 23.01
[09:31] {ese} filled
[09:31] {Threei} 40 cents in one gasp
[09:31] {ese} .5
[09:31] {Threei} 50 even
[09:31] {ese} sory .05
[09:32] {ese} out CTXS .34
[09:32] {Threei} UAUA pulling back
[09:32] {ese} +.29 ....that was a 1/2 ;ot
[09:32] {Threei} lol, that kind of redefines fast
[09:32] {ese} damn does it ever
[09:32] {Threei} if you still had your order at .20, that was the only way to get filled
[09:33] {Threei} if UAUA revisits that level again, it's not an entry anymore
[09:34] {Threei} watch JNPR for entry on pullback closer to 19
[09:34] {dino} ice sm l .25, stop .79
[09:34] {Threei} JNPR here
[09:34] {Threei} stop about 18.95
[09:37] {Threei} UAUA sharp down
[09:37] {Threei} sewe how thrid revisit of 14.20 was not an entery anymore?
[09:38] {_Case} Yes... Oil is up, does it trade in reverse?
[09:38] {Nemo} 3rd revisit breakdown
[09:38] {Threei} latelt UAUA mostly trades with market
[09:38] {Threei} JNPR no worky
[09:40] {lisa_jay} Almost got 1:1 on jnpr, quotes were bad, so too 8c loss. sigh.
[09:40] {Threei} Long Setup: FDRY .50
[09:41] {Threei} if stays above .35
[09:42] {Threei} if this one doesn't work, backing off longs longs
[09:42] {hawkfan4} AMGN .50 small, stop under .25
[09:43] {peterg} good morning all, honored guests
[09:43] {Nemo} market backing off
[09:43] {Threei} peter :)
[09:43] {hawkfan4} 1/2 out .85
[09:43] {Threei} no worky FDRY
[09:44] {ese} hawk are in AMGN?
[09:44] {Threei} market bounces are met with a lot of selling
[09:44] {Onix} stopped JNPR and FDRY
[09:44] {ese} was gonna bstop AMGN at .54.01
[09:44] {hawkfan4} stop .67 amgn
[09:45] {ese} god trading there hawk
[09:45] {ese} good!!
[09:45] {hawkfan4} thx es :)
[09:45] {ese} long AMGN
[09:45] {ese} 1/2
[09:46] {ese} .02
[09:46] {ese} out AMGN .24
[09:46] {ese} +.22
[09:46] {Threei} Short Setup: ADBE .50 breakdown if stays below .70
[09:47] {ese} hawk you still in....
[09:47] {hawkfan4} 1/4 out .20, stop .99 on last
[09:47] {hawkfan4} out
[09:47] {ese} nice
[09:47] {hawkfan4} thx, u2 es
[09:47] {dino} ice stopped -.40
[09:47] {ese} took your lead...tks for idea
[09:47] {hawkfan4} np
[09:48] {Threei} 24.45 is 52 week low for ADBE
[09:49] {Threei} invalidated for now but can become valid again if consolidates a bit closer to .50
[09:49] {lisa_jay} Very gerky movements this morning.
[09:49] {dino} sm l leco .10, stop .73
[09:49] {Threei} yup
[09:49] {Threei} about to trigger ADBE
[09:50] {Raven} beef gerky ?
[09:50] {dino} stopped, ouch, that was fast, sitting back
[09:50] {Threei} lost 52 week support
[09:51] {Threei} 1:1 ADBE, cover half
[09:51] {peterg} hmmmm
[09:51] {Threei} scalpers take full profit
[09:51] {Geo} out half .33
[09:52] {Threei} stop to above .50 for the balasnce
[09:53] {ese} by the way ....what were apples numbers anyone know?
[09:53] {Nemo} APPL forward guidance was very soft...surprise...
[09:54] {hawkfan4} 21-Oct-08 16:47 ET In Play Apple beats by $0.15, misses on revs; guides Q1 EPS below consensus, revs below consensus
[09:54] {ese} tks
[09:55] {Threei} uaua
[09:55] {dino} aapl, rimm green
[09:55] {ese} hmmmmmm$101.00 to $93.00 mild punnishment from the stree
[09:56] {Nemo} double bottom on rimm?
[09:56] {lisa_jay} JBLU
[09:57] {Threei} too far from there nemo... no chasing
[09:57] {Geo} out half adbe
[09:57] {Nemo} too old to chase
[09:57] {peterg} lucky
[09:57] {Threei} yeah, second half ADBE stopped about b/e
[09:57] {Threei} too bad, this one had potential to much bigger
[09:59] {dino} leco last try sm l .50, stop .13
[09:59] {dino} peter :)
[09:59] {hawkfan4} with ya dino .52
[09:59] {dino} ok, lets ride it
[10:00] {Threei} AUG HOUSE PRICE INDEX (M/M): -0.6% V -0.5%E
[10:00] {dino} cme rocking, watch ice
[10:00] {magoo} vad, news BIDU?
[10:00] {ese} the gods are always with you dino......should be no problem for you
[10:00] {Threei} not really
[10:00] {dino} i prefer lady luck
[10:00] {Threei} Merril lowered price target
[10:01] {magoo} to what?
[10:01] {Threei} 390
[10:01] {Threei} OFHEO'S LOCKHART: MUST PREVENT FORECLOSUYRES, FNM AND FRE WILL PURCHASE MORE MORTGAGES
[10:01] {ese} well then.......this is a clean board
[10:01] {hawkfan4} earnings last night mags
[10:01] {Threei} US) SEC'S COX: VOLUNTARY REGULATION DOES NOT WORK
[10:01] {dino} ice off of .00 sm l
[10:01] {Threei} hmmm?
[10:02] {dino} no trig
[10:02] {Threei} FDIC'S BAIR: RECENT ACTIONS ARE HAVING EFFECTS, AFFIRMS THAT FORECLOSURES MUST SLOW
[10:02] {Nemo} Yeah, I promise to lock myself up if I rob a bank
[10:02] {ese} done for the day all......early morning with a couple of meeting....see you tomorow.....
[10:02] {Threei} too much reassuring goes on
[10:02] {magoo} almost geeen here
[10:02] {hawkfan4} cya es
[10:02] {ese} see ya hawk
[10:02] {Threei} take care ese
[10:02] {ese} vad
[10:03] {dino} cya es
[10:04] {peterg} GE now at half of what genius me sold it for this summer
[10:04] {dino} ok, risky, ice trig, wide careful. want a buck
[10:05] {hawkfan4} ICE ..02 small
[10:05] {dino} need rimm aapl to join party imo, otherwise trouble
[10:06] {Threei} AMGN is determined
[10:06] {dino} aapl says fine dino
[10:06] {dino} hawk, careful ice violent pullbacks
[10:07] {hawkfan4} k, thx
[10:07] {dino} next time i start so early hawk, slap me
[10:07] {dino} i'm better at 9:50
[10:07] {hawkfan4} lol, u got it :)
[10:08] {dino} ok, fear/greed on both
[10:09] {Threei} market moved away from breakdown area
[10:09] {dino} close to yesterdays low 8335, maybe????
[10:10] {Threei} RIMM is back into lows
[10:10] {magoo} [10:07] {dino} next time i start so early hawk, slap me
[10:11] {magoo} slap me
06[10:11] * hawkfan4 slaps magoo around a bit with a large trout
06[10:11] * Geo slaps magoo around a bit with a large trout
[10:11] {magoo} i meant dino
06[10:11] * Geo hurts more
[10:11] {hawkfan4} :)
[10:11] {Nemo} easy on trout boys...cousins
[10:12] {Threei} RIMM .60 break long small shares
[10:12] {Threei} if stays above .30
[10:12] {dino} hawk, theres your buck
[10:12] {dino} ice
[10:12] {Nemo} cup and handle on nov?
06[10:13] * dino slaps magoo around a bit with a large trout
[10:13] {dino} lol nemo, how's dori
[10:14] {hawkfan4} beauty dino, 1/2 out .07 +1.05
[10:14] {Threei} invalidated
[10:14] {Nemo} left me for someone with bigger fins :(
[10:14] {dino} great job
[10:14] {Geo} well technically dori knew nemo's dad
[10:14] {Geo} but i am not nitpicking
[10:15] {Threei} RIMM starts looking like breakdown
[10:15] {Threei} lol, broke while I typed
[10:15] {lisa_jay} mixed emotions, chopping up down, up down
06[10:15] * dino slaps Geo around a bit with a large trout
[10:15] {Threei} very choppy, yeah
[10:16] {Threei} nervous market
[10:16] {Threei} Greenspan on TV
[10:17] {dino} it's his fault, but they treat him like a god
[10:17] {Threei} amazing isn't it
[10:18] {_Case} Triangle consolidations forming in SPY,QQQQ? (1-min charts)
[10:18] {Threei} can't place much signifinace in it, case
[10:19] {lisa_jay} uaua and cal selling off hard...dal could be next?
[10:19] {Threei} market doesn't really go with normal patterns today
[10:19] {Threei} if loses 9, lisa
[10:20] {lisa_jay} I tried to short at .13 with stop above .15...not available to short :-(
[10:20] {Threei} available here
[10:21] {Threei} UAUA sudden;y became unavailable
[10:21] {Threei} was yesterday
[10:22] {hawkfan4} available for me
[10:22] {Threei} market slowed down - is it Greenspan effect?
[10:22] {Threei} market used to fall asleep during his testimonies
[10:22] {_Bruce} fitb
[10:23] {Threei} VENEZUELA MIN: OPEC CUT WILL BE AT LEAST 1M/BPD, SEES TWO WAVES OF PRODUCTION CUTS
[10:23] {Threei} looking for breakdown bruce?
[10:23] {Nemo} Saudi response will be most important
[10:24] {hawkfan4} out rest ice +1.46, thx again dino
[10:24] {Threei} good one guys
[10:24] {hawkfan4} thx
[10:27] {dino} ngj hawk
[10:28] {_Bruce} possible break vad- actually thinking long bounce is higher probablility
[10:30] {_Bruce} l fitb 11 stop 6c
[10:31] {_Bruce} stopped fitb
[10:32] {Threei} market feels to be running out of gas again
[10:33] {Threei} Short Setup: ADBE .69 if stays below .85, half lot
[10:33] {Threei} invalidated
[10:33] {Threei} and markety changed its mind on a whim
[10:34] {Threei} am I hallucinating or PETS actually makes 52 week highs?
[10:35] {Threei} *EIA NATURAL GAS INVENTORIES: +70 BCF VS. +75 TO +80 BCF RANGE OF ESTIMATES
[10:35] {Threei} {UNG}
[10:38] {Chaeron} Good morning all. Sorry I'm late
[10:39] {Threei} chaeron :)
[10:39] {Threei} didn't miss much anyway
[10:39] {Geo} hey chaeron
[10:39] {Threei} listlesss market
[10:39] {Threei} Long Setup: AMGN .15 half lot
[10:39] {Threei} if stays above 55.90
[10:40] {hawkfan4} in .17
[10:40] {Threei} half out AMGN closer to .50, scalpers know what to do
[10:41] {Threei} out half
[10:41] {Threei} offer the balance above .70
[10:41] {Geo} .14 out .68
[10:41] {Threei} out in full
[10:41] {Geo} nice vad
[10:42] {Chaeron} beauty Vad
[10:42] {Threei} me? beauty?
[10:42] {Geo} just in time chaer !
[10:42] {Threei} careful chaeron...
[10:42] {Chaeron} missed it Geo
[10:42] {Geo} oh :(
[10:42] {Chaeron} I'm not THAT drunk Vad
[10:42] {hawkfan4} out full .15
[10:42] {Threei} lol
[10:42] {Threei} finally decent play
[10:42] {hawkfan4} beauty call, thx vad
[10:42] {Threei} welcome
[10:43] {dptl} out mgn +.30 and +1.00 ty
[10:43] {_Bruce} amgn ripping long
[10:43] {Threei} wow, out too soon
[10:43] {Geo} maaan
[10:43] {Geo} this one call washed out 2 stoputs
[10:43] {Geo} could have dome more
[10:43] {Threei} that's the idea, isn't it
[10:43] {Threei} keep stops tight
[10:43] {Geo} oh yeah
06[10:43] * Geo mumbles
[10:44] {dino} hawk leco on your own...
[10:44] {hawkfan4} UAUA .88 long, stop under .80
[10:44] {Threei} now, the luckiest one on this trade would be a trader who suddenly fell asleep for 5 minutes after entering
[10:44] {Threei} market got happy all of a sudden
[10:44] {magoo} huh..u wake me?
[10:45] {magoo} wow am i lucky guys
[10:45] {_Bruce} s aapl 98.25 50 c stop
[10:45] {Threei} lol magoo
[10:45] {dino} hey, is that original bruce?
[10:46] {_Bruce} you bet dino
[10:46] {Threei} gutsy short bruce
[10:46] {magoo} BRUCEEEEEEEEEE
[10:46] {Threei} don't oversit
[10:46] {dino} good to see you
[10:47] {_Bruce} out aapl +55 c
[10:47] {_Bruce} you too dino
[10:47] {Threei} beautiful one, wtg
[10:47] {_Bruce} thanx
[10:47] {_Bruce} lucky
[10:47] {Geo} wow twins
[10:47] {Geo} lol
[10:48] {dino} lucky, that a boy bruce
[10:48] {_Bruce} lol
[10:48] {_Bruce} better to be lucky and dumb
[10:48] {_Bruce} than smart and broke
[10:48] {Threei} than poor and at war?
[10:48] {_Bruce} that too
[10:49] {Threei} RIMM is still red
[10:49] {hawkfan4} stopped uaua
[10:49] {dino} okj hawk, out ice .80, +1.80
[10:49] {Threei} UAUA kind of lost it hawk
[10:49] {hawkfan4} sweet, nice dino
[10:49] {Threei} had too big of a run, needs rest
[10:49] {dino} had 2.25 but lost
[10:50] {hawkfan4} yep, tired
[10:50] {dino} like to see pullback to 68.50 area
[10:51] {hawkfan4} i'll be watching it
06[10:51] * _Bruce slaps magoo around a bit with a large trout
[10:51] {dino} thing's like pulp
[10:51] {Threei} APOL
[10:51] {Threei} too jumpy...
[10:52] {Threei} had an idea of long near 61
[10:52] {Threei} but thing teleports in seconds
[10:52] {magoo} 1 day we are going to get 600 up...just don't know when...we are riculously oversold
[10:52] {Threei} let's let APOL go, too jerky
[10:52] {Threei} we are mags
[10:53] {Threei} not to say we can't sell more
[10:53] {Threei} but rememner up days last week or two
[10:53] {magoo} not saying bull mkt...but c'mon...shorts win every day
[10:53] {Threei} those were the easiest money in a year
[10:53] {Threei} no even need to scalp, buy and hold for a few hours
[10:54] {Threei} pretty much looking forward to datys when market returns to this mode
[10:54] {Threei} days too
[10:54] {magoo} i know..and shorting here feels like suicide...but i would have produced great $$ all week'
[10:54] {Threei} actually, looking at chart right now
[10:54] {Threei} we pretty much may get it today
[10:55] {dino} fwlt sm l .00, stop lod
[10:56] {dino} yes today and a bit more tomorrow, perhaps monday too, then more death
[10:56] {Threei} very well could be
[10:57] {Threei} I won't even pretend I can foretell what this crazy market is going to do, lol
[10:57] {Threei} OK
[10:57] {Threei} Long Setup: NQ 1255
06[10:57] * Geo just acquired an 8 ball and polishing it
[10:57] {Threei} stop under 1250
[10:58] {Threei} Short Setup: QID into bounce, small shares
[10:58] {Threei} as close to 76.50 as you can get
[10:58] {Threei} yeah right QID says
[10:59] {Threei} here it is
[10:59] {Threei} if you got QID around .30-.40, stop above .60
[10:59] {Threei} cover half here
[10:59] {Threei} scalpers cover in full
[10:59] {Geo} NQ? target?
[11:00] {Threei} NQ half out into spike above .60
[11:00] {Threei} there
[11:00] {Geo} :)
[11:00] {magoo} vadd..at what level will buy programs trigger?
[11:00] {Threei} QID, who held balance feel free to cover in full under 75
[11:01] {hawkfan4} 1/2 out nq +10, thx vad
[11:01] {magoo} qqqq 33.50?
[11:01] {Threei} no idea mags
[11:01] {Threei} I haven't programmed them
[11:02] {Threei} QID gave over a dollar
[11:02] {dino} fwiw gap from yesterdays' open and tues. close, dji 9033
[11:03] {Threei} NQ hit 1:2 actually... missed that whilke messing with QID
[11:03] {Geo} yeah out
[11:03] {Threei} out in full?
[11:03] {Geo} TY
[11:03] {Threei} cool
[11:03] {Threei} welcome
[11:04] {Threei} DOW CEO: EQUITY MARKETS HAVE BECOME DISCONNECTED FROM REALITY
[11:04] {Threei} you don't say
[11:05] {Threei} btw, one comment for guests
[11:05] {Threei} when we make a call on NQ,
[11:05] {Threei} it's a general market read,
[11:05] {Threei} and if you don't play e-minis
[11:06] {Threei} you can follow the call with any of the stocks you have on watch IF that stock follows the market
[11:06] {Geo} back in black !!!
[11:06] {Geo} and then some
[11:06] {Threei} have a look at
[11:06] {Threei} RIMM
[11:06] {Threei} AAPL
[11:06] {dino} gj geo
[11:06] {Threei} ADBE'
[11:06] {Threei} DELL
[11:07] {Threei} they all did what NQ did
[11:07] {Threei} plaaying any oftehm you can follow the NQ/QID call
[11:07] {Threei} just identify entry point matching NQ trigger
[11:08] {Threei} if any questions about the concept, don't hesitate to ask
06[11:08] * Geo asks if he can have some more please
[11:08] {Threei} be back in 10 while you think about questions
[11:08] {Threei} real questions... not like one above {Grin}
[11:09] {peterg} what use for NQ?
[11:09] {Geo} for americans? biggest is taxation and lower costs and lesser reporting
[11:09] {Geo} and oh yeah leverage
[11:10] {peterg} anybody? I mean what index do you access & read for NQ, or am I missing the point?
[11:10] {magoo} qqqq
[11:10] {peterg} got thta, thks
[11:10] {magoo} i keep up minute chart all the time
[11:10] {magoo} cant trade without it
[11:11] {Geo} yup
[11:11] {dino} nihd blood
[11:11] {dino} i watch ndx
[11:12] {magoo} another good indicator of naz direction is aapl too peterg
[11:12] {lisa_jay} Magoo you have both nq and qqqq 1 min charts?
[11:12] {magoo} i use just qqqq
[11:12] {magoo} really helps
[11:13] {peterg} Lisa, you got nq?
[11:13] {lisa_jay} yes.
[11:13] {Geo} qqqq trades like NQ almost perfectly
[11:13] {lisa_jay} TOS charts.
[11:13] {peterg} tks
[11:13] {Geo} if you hav TOS watch NQ
[11:13] {peterg} TOS....?
[11:14] {lisa_jay} think or swim
[11:14] {peterg} lol
[11:14] {Geo} best platform ever for options
[11:14] {peterg} me just have laser
[11:14] {Geo} laser and IB here
[11:14] {peterg} International Bridge
[11:15] {peterg} Irritable Bowel
[11:15] {peterg} sorry
[11:15] {magoo} dino has cyber and BO
[11:15] {Geo} Interactive Brokers longterm and NQ only
[11:15] {Geo} hahahahaha
[11:15] {Threei} back
[11:15] {peterg} :)
[11:15] {magoo} smoke?
[11:15] {peterg} if so, what?
[11:15] {lisa_jay} Geo if not buys dcc?
[11:15] {Threei} lol
[11:15] {dino} out fwlt .40, +.40
[11:16] {Geo} sure
[11:16] {lisa_jay} sorry busy.
[11:16] {Threei} nice... our provincial govt cut income tax by 5% retroactive to beginning of 2008
[11:16] {Geo} wow
[11:16] {Geo} so canadians capitalist now?
[11:16] {Threei} good one dino, wtg
[11:17] {dino} i'm moving to canada. out idiots want to raise taxes in recession
[11:17] {Geo} my residency in canada expires this dec sniff
[11:17] {Threei} that was exactly what turned crash of 1929 and potential recession into depression
[11:17] {Threei} capital tax raise, isolationism
[11:18] {Chaeron} dino is Ireland a better choice?
[11:18] {dino} dk, i'm usa
[11:18] {Threei} trying to gauge if market is out of gas or just taking a breather here
[11:18] {dino} ice dropping
[11:19] {Threei} feels like small bounce and more drop for now
[11:19] {dino} right now 40% of americans pay no tax, and they want to raise it on ones paying
[11:19] {Geo} 40% really???
[11:19] {dino} y
[11:19] {Geo} man i feel overtaxed
[11:20] {dino} top 10% pay 50%
[11:20] {Threei} if materializes, watching DELL for short into bounce closer to 12.40
[11:20] {dino} to be in top 10% you only have to make $93k
[11:20] {Geo} and how much do they make?
[11:20] {Geo} 90?
[11:20] {dino} which today is not much
[11:20] {magoo} geo..i thought u were usa
[11:21] {Geo} ?
[11:21] {magoo} us citizen
[11:21] {Geo} nope
[11:21] {dino} all we do is lower the income level for "wealthy" and tax the sh#t out of them
[11:21] {Geo} Univ filed in 2003
[11:21] {Geo} still waiting behind the illegals
[11:22] {dino} class warfare in this election
[11:22] {dino} and my ranting is done for today
[11:22] {magoo} thank goddddddddd
[11:22] {Threei} lol
[11:22] {magoo} hes throwing stuff in my direction again vad
[11:22] {_Bruce} rant rant rant
[11:22] {_Bruce} fume fume fume
[11:23] {Threei} UPS
[11:23] {Threei} CFO: FORECASTS WORLDWIDE EXPORTS +5% IN Q4 - CONF CALL
[11:23] {_Bruce} what we need to do is strat taxing these low life day traders
[11:23] {_Bruce} specially guys like mags
[11:23] {dino} we already pay highest rates
[11:23] {dino} short term gains, then amt hits
[11:24] {Threei} FDIC'S BAIR: WILL SEEK TO CLOSE BANKS EARLY THAT MAY FAIL, WILL BE 'PLENTY' MORE
[11:24] {Threei} oh great
[11:24] {Geo} wow dino
[11:25] {Geo} i i get hit six ways to sunday.... pay SSN even if not eligible
[11:25] {Threei} US TREASURY'S KASHKARI: WILL DEPEND UPON REGULATORS IN DECISION MAKING PROCESS REGARDING WHICH BANKS TO TAKE EQUITY STAKES
[11:25] {Geo} consider it the price for being here myself
[11:25] {Threei} DELL didn't even try to bounce
[11:25] {Threei} too bad
[11:28] {dino} risky sm s ice .10
[11:28] {dino} stop .51
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
06[11:28] * magoo slaps Threei around a bit with a large trout
06[11:28] * Chaeron slaps laserdave1 around a bit with a large trout
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
[11:28] {Threei} sigh
06[11:28] * laserdave1 slaps Chaeron around a bit with a large trout
[11:28] {Threei} relax guys
[11:28] {Threei} oh, that's actually what you are doing
[11:29] {Threei} Short Setup: ADBE 25 break if stays under 25.15
[11:30] {Geo} invalid?
[11:31] {dino} ice stopped cov -.43
[11:31] {Threei} for now, yes, but if consolidates here for a few again, and market resumes downward will be valid again
[11:31] {Geo} ok
[11:32] {dino} cedc sm l .80, stop lod
[11:33] {Nemo} just sittin' watchin' the paint dry...
[11:33] {Threei} valid again with market help
[11:37] {Threei} let's trail stop to above .10
[11:37] {Threei} just too unclear here, want to keep stop tighter
[11:38] {Threei} last bounce topped out at .05, so trailing to .10 is reasonable
[11:40] {Threei} die already ADBE
[11:40] {laserdave1} magoo dcc
06[11:40] * Threei smacks ADBE on the head with 2x4 endowed with rusty nails
[11:42] {Geo} half out .85
[11:42] {Threei} Attention: ADBE 1:1
[11:42] {Threei} half out, scalpers take profit
[11:42] {Threei} stop for the balance to just above 25
[11:42] {lisa_jay} 15c, thanks Vad.
[11:42] {Threei} welcome
[11:44] {_Dean} 2:1, Thanks Vad.
[11:44] {Threei} :)
[11:45] {Threei} 1:2
[11:45] {Threei} 1/4 out or cover in full
[11:45] {Threei} your choice
[11:45] {Threei} if keeping 1/4, stop to .91
[11:46] {Threei} ok, this I don't get:
[11:47] {dino} ice sm s .50, stop .01
[11:47] {Threei} Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.
[11:47] {Threei} ``We've reached a situation of sheer panic,'' Roubini, who predicted the financial crisis in 2006, said at a conference in London today. ``There will be massive dumping of assets,'' and ``hundreds of hedge funds are going to go bust,'' he said.
[11:47] {_Dean} 1:3 last half. ty .
[11:47] {Threei} good job Dean
[11:47] {Threei} explain to me please, what those funds are going to do if markets are closed
[11:47] {_Dean} All Hail Vad!
[11:47] {Threei} how do they liquidate?
[11:48] {Threei} or he means they won't?
[11:48] {Geo} they panic and dump when markets open
[11:48] {Geo} thus even worse
[11:48] {Chaeron} hmmm "sheer panic"... we're close to a bottom
[11:48] {Nemo} Vad the scalper...like Vad the impaler?
[11:48] {Threei} then what happens over this week to prevent dumping when it opens?
[11:48] {peterg} I will buy 1 million shares for .10c
[11:48] {Threei} lol nemo
[11:48] {Geo} thats what he was calle din high school
[11:48] {hawkfan4} Vad the Trouter
[11:48] {Geo} out
[11:48] {Nemo} How does one trout?
[11:49] {Nemo} I'm getting bad visuals
06[11:49] * Threei swears he never tells anyone where nicknames Enforceer and KneeCapSAhooter came from
[11:49] {Chaeron} Right click on nick you want to hit and select from drop down menu
[11:49] {Geo} 27 cents TY vad
[11:49] {Threei} welcome sir
06[11:49] * Chaeron slaps Nemo around a bit with a large trout
[11:50] {Threei} yeah... like that
[11:50] {Nemo} That's fratricide!!!
[11:50] {dino} ice stopped again,
[11:50] {peterg} nemo, thats this group for ya
[11:50] {peterg} also, can commit trout suicide
[11:51] {Threei} ``Systemic risk has become bigger and bigger,'' Roubini said at the Hedge 2008 conference. ``We're seeing the beginning of a run on a big chunk of the hedge funds,'' and ``don't be surprised if policy makers need to close down markets for a week or two in coming days,'' he said.
[11:51] {Threei} I feel like I am in some parallel universe
[11:52] {peterg} era ouy
[11:52] {Nemo} Those countries running to the IMF is just like running to the US. This is for reserve currency control
[11:52] {Threei} in the one I live in these things just don't happen
[11:54] {Threei} we all may have to move back to Kripton
[11:54] {Nemo} I'll lose my superpowers :(
[11:54] {peterg} Jor-el, where are you now?
[11:54] {Threei} should be easy transition for magoo, he is a Martian anyway
[11:55] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: RUSSIA HAS THE POTENTIAL TO AVOID BANKING AND CURRENCY CRISIS
[11:55] {dino} now ice falls, sheesh
[11:55] {Threei} Imo... THOSE THAT DO DON'T TALK LIKE THAT
[11:56] {Threei} oops, sorry caps
[11:56] {Nemo} That hurt my ears
[11:57] {Geo} yeah kashkari !!!
[11:57] {Geo} spreading the wealth
[11:57] {Geo} post the nes pls vad
[11:57] {Threei} Short Setup: UAUA .50 break if stays below .65
[11:57] {Geo} news
[11:57] {Threei} what news geo?
[11:58] {Geo} 8:56
[11:58] {Geo} TTN
[11:58] {Geo} [08:57] {Geo} yeah kashkari !!!
[11:58] {Geo} [08:57] {Geo} spreading the wealth
[11:59] {Threei} oh, lol
[11:59] {Threei} you confudsed me with time stamp
[11:59] {Threei} TREASURY'S KASHKARI: A 'FEW WEEKS' ARE NEEDED BEFORE THE NEXT SEGMENT OF BANKS ARE ANNOUNCED FOR PARTICIPATION IN TARP PROGRAM
[11:59] {Threei} - Will attempt to to have $250B in equity injections done by year end
[12:00] {Threei} it's 11:56 in trading world, you see
[12:01] {Geo} there is only one world
[12:01] {Geo} SoCal
[12:01] {_Muddleheaded} Vad, how to you manage $US/CDN exchange? Do you convert $US to $CDN every night?
[12:01] {_Bruce} mos looks weak - possible short - can be very volatile trader
[12:01] {Threei} no muddleheaded (what a nick, lol)
[12:01] {Geo} :)
[12:01] {Threei} money is in USD tading account
[12:02] {Threei} when I withdraw profits, I convert to CAD
[12:02] {Threei} sometimes waiting for a few days if I see chart as an opportunity to get a better rate
[12:02] {_Muddleheaded} Do you think the $CDN is oversold?
[12:03] {Threei} really no idea... was it oversold when exhcnage rate was around .60?
[12:03] {lisa_jay} uaua stil valid Vad?
[12:03] {Threei} yes lisa
[12:03] {Threei} see, CDN is pretty much petro currency,
[12:03] {Threei} commodity currency,
[12:04] {Threei} with commodities going into basement, it's no wonder CAD drops,
[12:04] {_Muddleheaded} That's for sure, thanks Vad.
[12:04] {Threei} then cycle starts:
[12:04] {Geo} booohoohoo
[12:04] {Threei} economy weaknes,
[12:04] {Geo} UAUA not available
[12:04] {Threei} BoC has to cut rates
[12:04] {Threei} which weakens CAD even more
[12:05] {Threei} and US economy is the basement which means sharp drop in non-oil related sectors in Canada
[12:05] {Threei} we see it in Ontario as we speak
[12:05] {Threei} so it's kind of triple whammy on CAD
[12:05] {Threei} UAUA 1:1
[12:05] {_Bruce} out mos + 42c
[12:05] {Threei} half out or take scalp
[12:06] {Geo} ?
[12:06] {Geo} laser didnt let me
[12:06] {Threei} no
[12:06] {Threei} but some may have it for short
[12:06] {Geo} i know
[12:06] {Geo} you in the superlicious secret group vad?
[12:06] {Threei} so I provide commentary for all, not limiting them to you only Geo... sorry
[12:07] {Chaeron} Geo thinks he's the center of the universe :)
[12:07] {peterg} he's not?
[12:07] {Geo} thats what you told me over beer chaeron !!!
[12:07] {Threei} well, I can't blame him, I think pretty much the same of myself
[12:07] {Chaeron} just wanted to make you feel good buddy :)
[12:07] {Threei} and it comes as a great surprise to me when I see people thinking otherwise
[12:07] {Geo} lol chaer
[12:08] {Geo} just wistfull about 20 cents thats all
[12:08] {Threei} amazingly enough, there are 7 billions of those
[12:08] {Threei} can you believe it?
[12:08] {_Bruce} rimm headiong to daily lows
[12:08] {Chaeron} I can't believe with as stupid as the human race is, we've reached 7B
[12:08] {Geo} hey magoo you there?
[12:08] {Threei} yeah, looking at RIMM for short at .50 break
[12:08] {Threei} would prefer some bounce first though
[12:09] {Threei} why chaeron... this I actually find easy to believe, considering how little smarts the process requiress {Grin}
[12:09] {Geo} really?
06[12:10] * Geo will go back in PG mode
[12:10] {lisa_jay} 22c on UAUA thanks Vad.
[12:10] {Threei} skipping RIMM short here
[12:10] {Threei} welcome lisa
[12:10] {Geo} damn
[12:10] {Geo} nice lisa
[12:10] {Threei} muddle... one more comment on CAD
[12:10] {lisa_jay} Thanks Geo.
[12:11] {Chaeron} thanks Vad... nice cancel notice... saved me big... -.08 only on RIMM
[12:11] {Threei} consider this market manner to overshoot reasonable targets
[12:11] {_Dean} out in full uaua 1st half 1:1 second half 1:2.5, second realitytrader trade both winnners
[12:11] {Geo} wierd spike
[12:11] {Threei} I was hesitant on it from get go chaeron
[12:11] {Threei} eread my first comment
[12:11] {Chaeron} I know... but you know I'm aggressive
[12:11] {_Muddleheaded} I guess everything is unreasonable now, thanks Vad.
[12:11] {Threei} beautiful Dean
[12:12] {Threei} right, that's what I mean
[12:12] {_Dean} thank you sir!
[12:12] {Threei} if fundamen tals say CAD should be where it is now (I don';t know if they are)
[12:12] {Threei} then market is very likely to overshoot it by moving much further in trend direction
[12:13] {Threei} just take a look at daily chart UAUA
[12:13] {Threei} the most fresh example
[12:13] {Geo} 15 res
[12:13] {Threei} frikin thing drops from about 14 to under 5
[12:14] {Threei} from 09/16
[12:14] {Threei} rallies from there to over 16
[12:14] {Threei} was there such drastic change of fundamentals over such short period of time?
[12:14] {Threei} this is state of utter confusion
[12:15] {Threei} and emotions-driven trading
[12:15] {peterg} you mean.....market is not unlike gambling?????
[12:15] {Threei} ummm
[12:15] {peterg} never mind
[12:15] {Threei} there are some analogies
[12:15] {peterg} kdg
[12:15] {Threei} but look at it this way
[12:15] {Nemo} yeah...gambling's one of 'em
[12:15] {Threei} no, it's a valid angle
[12:16] {Threei} there are gamblers that simply gamble
[12:16] {Threei} and there are those that watch faces
[12:16] {peterg} agree & like the emphasis on multiple perspectives
[12:16] {Threei} count cards
[12:16] {lisa_jay} I am one of them...
[12:16] {Threei} remember movie Rounders?
[12:16] {lisa_jay} Gambler that is
[12:16] {Nemo} and then there's the 3rd eye
[12:16] {Threei} amazing analogy between a good professional card player and trader
[12:16] {Nemo} Rounders...great movie
[12:17] {peterg} third ear from psychoanalyst Reik, i think
[12:17] {Threei} so, in a sense that a trader as a good gambler needs to know patterns,probabilities and read emotions, yes
[12:17] {peterg} Third eye--Hindu concept?
[12:17] {Nemo} shamanistic concept
[12:17] {peterg} I like tt
[12:17] {Threei} in a sense that trading is just like throwing aa dice and hoping... only if it's a bad trader :)
[12:18] {Nemo} goes back to Tungusia...yes, beard?
[12:18] {Threei} lol
[12:18] {Threei} never been there
[12:18] {Nemo} Nothin but mosquitos and kumis, and people w/no teeth
[12:18] {peterg} where?
[12:18] {peterg} Tungusia?
[12:19] {peterg} near Louisiana?
[12:19] {peterg} or Urals?
06[12:19] * Geo totally lost
[12:19] {Nemo} russian hinterlands north of china/mongolia
[12:19] {peterg} wos
[12:19] {Geo} ok
[12:19] {peterg} wow
[12:19] {dino} ugh ice, stopped my short by .20, then drops 2.30
[12:20] {Threei} market is back to a pattern of selling second half of the day
[12:20] {Threei} let's watch for bounces to short into
[12:20] {Threei} RIMM bounce into .60 - .70 resistance area
[12:21] {Threei} wow ADBE... did we cover early
[12:21] {Threei} or rather... why didn't we reshort bounce back into 25
[12:21] {Threei} anyway, nearest resistance is .65 - .70 area
[12:21] {Nemo} too busy chatting
[12:22] {Geo} i guess vads a good host
[12:22] {Threei} lame excuse but I'll take it
[12:22] {Geo} making polite conversatiopn
[12:22] {Geo} lol
[12:22] {peterg} some champagne with your shrimp, sir?
[12:22] {Threei} well, it's either that or vodka Geo...
[12:22] {Nemo} I missed skf turn...caviar please...
[12:23] {Nemo} vodka...ran out last night
[12:23] {Threei} ADBE topped out at .59
[12:23] {Threei} a bit too fast to catch it there
[12:23] {Threei} or someone managed?
[12:23] {Chaeron} was waiting in the 60s
[12:23] {Chaeron} beuty call tho
[12:24] {Threei} RIMM nowhere even closer to resistancer
[12:24] {Chaeron} beauty too
[12:24] {Threei} market edges toward that dreadful support to break again
[12:24] {Threei} see how pace picks up as we move toward it?
[12:25] {Threei} nervous players start liquidating
[12:25] {Threei} this starts feeling like self-fulfiling fear
[12:26] {peterg} wonder how this will end today
[12:26] {Threei} not pretty, my bet
[12:26] {peterg} feels like it
[12:27] {Nemo} what are the support levels?
[12:27] {Threei} for today, NQ 1220 to break to launch next wave of panic
[12:27] {Threei} and on daily, 1200
[12:28] {Nemo} is that CAD?
[12:28] {Threei} loss of that is likely to be a terrifying event
[12:28] {Threei} CAD?
[12:28] {Threei} no
[12:28] {Threei} NASDAQ e-minis
[12:28] {Geo} waiting at 19
[12:28] {Threei} QID
[12:29] {Threei} for those who don't trade NQ
[12:29] {Nemo} Ive got Nasdq at 1600 support...oops
[12:29] {Geo} wo
[12:29] {Threei} by NASDAQ you mean COMP?
[12:30] {Nemo} I'm only in the US and we speak the same language. I have NASDAQ, DJ, and S&P as basics
[12:30] {Geo} one lot coever at 15
[12:30] {Threei} NASDAQ is measured by diff indicators
[12:31] {Geo} other breakeven
[12:31] {Geo} a bit skittish
[12:31] {Threei} COMP is whole NASDAQ
[12:31] {Threei} NDX is NASADAQ 100
[12:31] {Threei} and what I use is NASDAQ 1-- e-minis,
[12:31] {Threei} which is NQ
[12:32] {Geo} all out 4 + 1 points
[12:32] {Nemo} don't know minis here
[12:32] {Geo} minis usually lead IMO nemo
[12:32] {Threei} right, that's why we prefer them as leading indicator
[12:32] {Geo} COMPX NDX is an aggregate taken after the fact
06[12:33] * Geo agrees
[12:33] {Threei} in terms on COMP, corresponding level to short was 1600,
[12:34] {Threei} and dreadful support on daily is 1545 roughly
[12:34] {Threei} 1540 - 1545
[12:36] {Threei} some have amazing knuck for stating the obvious, going even furter than mine:
[12:36] {Threei} (BR) PRESIDENT LULA: THE IMPACT OF THE GLOBAL CRISIS MAY BE "PARTICULARLY SEVERE"
[12:36] {Threei} no really?
[12:36] {Geo} TY vad
[12:36] {Geo} crawled back and hit daily
[12:36] {Threei} cool beans
[12:37] {Geo} rimm
[12:38] {Threei} market is torn between "oanic" and "don't panic"
[12:41] {dino} this market feels bad, imo
[12:41] {Threei} OK, panic
[12:41] {dino} feels like 7900 coming again
[12:42] {Threei} NASDA is about to revisit yesterday's low
[12:44] {Threei} if NASDAQ reverses back down, look to short ADBE wih stop above .50
[12:45] {Threei} if NQ goes above 1223, panic is canceled for now
[12:46] {Threei} postponed to be exact
[12:46] {Geo} :)
[12:49] {Threei} Short Setup: ADBE .39 if stays below .50
[12:51] {Threei} come on market give up... time to panic
[12:51] {Threei} ugh
[12:51] {dptl} stopped
[12:52] {Threei} yup
[12:52] {Geo} out .52
[12:52] {Threei} most likely just a shakeout but not going to take any chances
[12:52] {Threei} anything is possible in this environment
[12:53] {Threei} keep stops tight and keep them religiously
[12:54] {_Dean} Still in ADBE from .39
[12:54] {dptl} valid again?
[12:54] {Threei} don't know dp
[12:54] {Threei} no rhyme or rythm here
[12:55] {Threei} I like easy money
[12:55] {Threei} this is not
[12:58] {Threei} Dean wins
[12:59] {_Dean} Not yet risked 15 cents.
[13:00] {_Dean} out in full
[13:00] {Threei} just in time
[13:00] {_Dean} thank you sir!
[13:01] {Threei} welcome
[13:01] {Threei} really feels no matter how much market is trying. panic selloff is inevitable
[13:01] {_Dean} 3 realitytrader trades 3 wins! can't beat that!
[13:02] {magoo} feels like 500 down today
[13:02] {Threei} and on one of them you did better than we did, lol
[13:02] {Threei} mags, then look for QID entry
[13:02] {_Dean} lol
[13:03] {Threei} here we go... inching toward yesterday's low
[13:03] {Threei} broke
[13:03] {Threei} 1200 is within spitting distance
[13:05] {dino} gj dean
[13:05] {Threei} next wave of selling should take us into 1200,
[13:05] {Threei} little bounce
[13:06] {Threei} then breakdown and wave of red all over
[13:06] {_Dean} thank you dino
[13:06] {Threei} FHFA'S JAMES LOCKHART: THE FOCUS SHOULD BE ON GETTING THE GSES OUT OF CONSERVATORSHIP
[13:06] {Threei} {FRE FNM}
[13:06] {Threei} hmmm
[13:06] {Threei} can they do that?
[13:08] {Threei} bounce just like yesterday
[13:08] {Threei} don't trust it yet
[13:09] {Threei} CALIFORNIA MORTGAGE DEFAULTS DOWN 22.5% SEQUENTIALLY, BUT UP 30% Y/Y - DATAQUICK
[13:13] {Nemo} adbe getting off the mat??
[13:13] {Threei} just follows the market
[13:15] {Threei} still can't tell if we are off the hook for today or it's just a small bounce before swan dive
[13:16] {Threei} if we consoidate a little between 1215 and 1220 and break 1220, relief rally is likely
[13:16] {Nemo} Nahhh...it's a big, barbed, hook...and we ain't talkin' trout hook
[13:16] {Threei} broke 1220
[13:16] {Threei} not much of consolidation though
[13:19] {Threei} watching LVS
[13:20] {Threei} pullback buy with .50 support
[13:20] {Threei} if market sighs with reliefe, likely to go over 9
[13:21] {dino} wow lvs 150 to 8
[13:21] {Threei} took .58-.61
[13:21] {Threei} uhhu
[13:22] {Threei} there is a lot of bathwater around but I am sure there are some soapy slippery babies too
[13:22] {dino} pretty amazing, dropping stocks 20-30%/day
[13:23] {Threei} most incredible thing is,
[13:23] {Threei} it continues over and over again
[13:24] {dino} thats the amazing part.
[13:25] {dino} ironically all of the buybacks by companies are losers too. they should have gotten rid of debt, not bought back stock 2x-5x higher
[13:25] {dino} what a waste
[13:25] {Nemo} buy backs were signals to get out
[13:25] {dino} yes
[13:25] {Nemo} signals for insiders...that is
[13:26] {Threei} low volume pullback
[13:26] {dino} bunch of idiots. retire debt not buy stock....or give it to shareholders
[13:26] {dino} wasted trillions
[13:26] {Threei} now, if we are holding above 1210 and go back over 1220, we are out of the woods for the day
[13:26] {Threei} lose 1210, all bets are off
[13:26] {dino} 8800 on dji recent resistance
[13:27] {Nemo} they did give it to shareholders who turned in their stock
[13:27] {dino} 8335 recent support
[13:27] {dino} lost me nemo
[13:27] {Threei} OPEC PRESIDENT KHELIL: THERE IS NO CONSENSUS ON HOW MUCH OPEC SHOULD CUT
[13:28] {Threei} and when they cut there won't be consensus who actually cuts and who continues pumping like there is no tomorrow
[13:28] {dino} but heres' ge that reat company that everybody praises jack welsh about. bought back couple billion at 35
[13:28] {dino} plus jack put them in the mess
[13:28] {Threei} IMF OFFICIALS DENY RUMORS OF A TOTAL AMOUNT OF $1.0T FACILITY
[13:28] {Nemo} If you were a financial insider, you knew the feces were about to hit the ventilator
[13:29] {Nemo} You offer a buyback at the top of the market, contact wealth managers at the largest firms, and your largest shareholders, and tell them to sell
[13:30] {dino} it sure looks that way
[13:30] {dino} and then of course, blame the shorts
[13:30] {Nemo} nope
[13:31] {Nemo} naked shorting is another story...it's fractional reserve selling
[13:31] {lisa_jay} Vad, long LVS stop still under .5
[13:31] {Threei} yup
[13:31] {dino} my point, the shorts were right
[13:31] {Threei} NQ lost 1210
[13:31] {Threei} not good
[13:32] {Threei} stopped LVS'
[13:32] {dino} another leg down coming
[13:33] {Threei} CNN: election result impact on market
[13:34] {Threei} ADBE breaks day low
[13:37] {Threei} 1200 scares the hell out of market
[13:37] {Threei} tries to move away from it
[13:37] {Threei} then comes back like rabbit ti a snake
[13:38] {dino} jumping 70 pt in minute
[13:38] {Threei} amazing
[13:38] {dino} that used to be a day
[13:40] {Threei} usually this kind of abnormal volatility signalled trend reversal
[13:41] {Threei} yet who will risk to say ultimate bottom is in
[13:41] {dino} bruce will
[13:42] {_Bruce} tough call dino - still thinking down though
[13:42] {dino} you don't want to know what i'm thinking
[13:43] {_Bruce} lol
[13:43] {Threei} coarse languagem vioelnce and nudity?
[13:43] {Threei} only in better typing
[13:43] {Threei} OK... feels like we are more likely to put relief rally on
[13:44] {dino} aapl green
[13:44] {Threei} ADBE long on this pullback
[13:44] {Threei} .15
[13:44] {Threei} half lot
[13:45] {Threei} stop under 24
[13:45] {dino} hope you're right 3i. my gut says -500 today
[13:45] {Threei} not a scalp for me
[13:45] {Threei} looking to sell closer to .50
[13:46] {Threei} stop is tight enough dino...
[13:46] {Threei} this kind of trades with this riskm we are taking every day many times
[13:48] {Threei} market is defending this support with all the fury of mama bear
[13:48] {Threei} hunters are circling though, lol
[13:48] {Geo} heheh excellent commentary vad
[13:49] {Geo} out
[13:49] {Threei} ADBE holding by the tread
[13:51] {Threei} market looks into abyss and backs away from it... then comes back with scared curiosity
[13:51] {Nemo} are you out?
[13:51] {_Case} Feels like sell programs are drawing descending triangles.
[13:51] {magoo} back
06[13:51] * _Bruce slaps magoo around a bit with a large trout
[13:51] {_Case} I've witnessed this on Bailout Friday
[13:51] {Threei} ok, out ADBRE
[13:51] {magoo} nice..i miss that bruce
[13:51] {_Bruce} aapl at lows
[13:52] {Threei} 1200 is tagged
[13:52] {_Case} Watched the texbook collapse... but stayed in... thinking it's a fade...
[13:52] {_Case} Only to regret on Crash Monday
[13:53] {Threei} shakeouts all arounbd'
[13:53] {Threei} no bounce, no breakdwon
[13:53] {magoo} vad 1200 correspondes to where on qqqq 29?
[13:55] {Threei} just under 29.50
[13:56] {Nemo} RIMM: steady uptrend since 12:30
[13:56] {_Bruce} -500 dino?
[13:56] {hawkfan4} geesh, JASO 4.75, ESLR 2.52, SOLF 5.54. Where have all the good times gone?
[13:56] {_Bruce} lets borrow vads money and short the hell out of market
[13:57] {Threei} his projection for DJI Bruce
[13:57] {Threei} look at CSIQ hawk
[13:57] {Threei} can you believe this price?
[13:58] {hawkfan4} sad, so sad. they were such good friends too
[13:59] {hawkfan4} DRYS 17.70 and looks like it's headed to single digits
[14:01] {dino} lod
[14:02] {dino} 8335
[14:02] {dino} breaking
[14:02] {Threei} here comes dreadful breakdown
[14:02] {dino} oh oh, 8200 then capit 7900
[14:03] {_Bruce} halloween havoc
[14:03] {Threei} totally
[14:03] {Threei} panic ensues
[14:05] {_Bruce} 25 is low for q's - not quite there yet
[14:05] {Threei} strong magnet
[14:05] {Threei} bounces are meek
[14:06] {_Bruce} meek - you talkin market or magster?
[14:07] {Threei} watch NQ for short around this level
[14:07] {Threei} and QID for long
[14:07] {Threei} very hard to assign exact numbers
[14:08] {Threei} if you get a feel, go for it, if not just sit it out
[14:09] {Threei} if dino is right and we headed for -500, QID goes for 86 or more
[14:10] {dino} lol
[14:11] {Threei} -200 so far
[14:11] {Threei} and ticking
[14:12] {Threei} here we go, next leg
[14:13] {Threei} who went for QID half out here
[14:13] {magoo} me
[14:13] {magoo} .12
[14:13] {Threei} 84.12?
[14:14] {magoo} yes
[14:14] {Threei} good job
[14:14] {Threei} sell half, put the rest for sale closer to 86
[14:14] {Threei} close your eye and pray
[14:14] {Geo} out NQ 86.50
[14:14] {Threei} from?
[14:14] {Geo} 8 points on one
[14:15] {Geo} 94.5
[14:15] {_Bruce} l aapl 93.16
[14:15] {Geo} stopped second
[14:15] {Geo} was trailing :(
[14:15] {magoo} out qid ty
[14:16] {dino} gj
[14:16] {Geo} 10 points total
[14:17] {dino} beauty
[14:17] {lisa_jay} Magoo, what was your entry and exit on QID? Thanks.
[14:17] {_Bruce} out half aapl +.42
[14:17] {Geo} nice bruce
[14:18] {Geo} thanks dino
[14:18] {Geo} looks like i had a tight stop
[14:18] {dino} ok, half way therendx, comp new 52 week lows
[14:18] {dino} there, ndx
[14:19] {Threei} Geo... you know you can't trail NQ as you do stocks
[14:19] {Geo} yeah :(
[14:19] {Geo} will try some more on sim
[14:19] {Threei} here come 86 QID
[14:20] {magoo} dino gonna get his 500
[14:20] {Threei} out .70
[14:20] {magoo} beauty vad
[14:20] {Threei} close enough
[14:21] {Threei} NASDAQ COMPOSITE TESTS SEP 10TH LOW
[14:21] {magoo} 86 prints
[14:21] {Threei} lol
[14:21] {Threei} we know
[14:21] {Threei} btw, mags
[14:21] {Threei} about your QID entry
[14:21] {Threei} that was breakout
[14:21] {Threei} which is not usually a the best way to play this beast
[14:22] {Threei} its volatility gives a lot of severe pullbacks
[14:22] {Threei} it's usually better pley on those
[14:22] {Threei} play too
[14:22] {magoo} ewhere u get in vad?
[14:23] {Threei} whenit pulled back to about 85.20 or so, I got it at 83.60
[14:23] {Threei} to 83.29, sorry
[14:23] {Threei} ok, everyone's blood pressure is normal?
[14:24] {Threei} historical events continue
[14:25] {Threei} truly, this is stuff to tell your grandkids about
[14:25] {Geo} so you telling em tonight vad?
[14:25] {Threei} who?
[14:26] {Geo} [11:25] {Threei} truly, this is stuff to tell your grandkids about
06[14:26] * Geo ducks
[14:26] {Threei} careful
[14:26] {Threei} trout is unholstered
[14:26] {magoo} trout?
06[14:26] * Geo slaps magoo around a bit with a large trout
[14:26] {Geo} this one
[14:27] {Threei} hmm.. preventive trout?
[14:27] {Geo} i thought he asked
[14:27] {Geo} hmmm nice pullback
[14:27] {_Bruce} exited balance of aapl +.38
[14:27] {Threei} wtg
[14:28] {Geo} we miss ya bruce !!
[14:28] {Threei} chart wise, this bounce is asking to be shorted
[14:28] {_Bruce} thanx vadster
[14:28] {_Bruce} lucky
[14:28] {Threei} but honestly speaking
[14:28] {Threei} I'll stay away for now
[14:29] {_Bruce} I trade like dino now - if the thing isn't going to move a buck whey even look at it?
[14:29] {Nemo} When is the crash scheduled for today?
[14:29] {Threei} dino is intervening into my teritory now Bruce...
[14:30] {Threei} trades a lot of 15-30 cents play
[14:30] {Geo} thats just wrong
[14:30] {Threei} si as a countermeasure I play more of $1 moves
[14:30] {_Bruce} lol
06[14:30] * _Bruce slaps dino around a bit with a large trout
[14:30] {Threei} it's already here Nemo... it's just a mini-crash
[14:31] {Threei} for now at least
[14:31] {Nemo} Nahhhh...we're still in the range for today
[14:31] {Threei} sensitivity has changed greatly
[14:31] {Threei} -250 is nothing these days
[14:31] {dino} lol bruce
[14:32] {Threei} we bat eye at -500
[14:32] {Threei} -700, OK, that's crash
[14:32] {dino} yes, but 552 range
[14:32] {dino} unfortunately, normal too
[14:33] {_Bruce} taking break here
[14:34] {Threei} day was pretty much around flat for me before this last drop... some stops, some winds, mostly balancing each other
[14:34] {Threei} then this QID play took in black sharply
[14:36] {Threei} 1200 break NQ is scary long signal
[14:36] {Threei} for strong hearts only
[14:37] {Threei} 29.50 QQQQ corresponding level
[14:37] {Threei} 83 short QID corresponding level
[14:38] {Geo} stop for NQ pls vad ?
[14:38] {Threei} under 95
[14:38] {Geo} yeah was afraid of that :(
[14:38] {Threei} target about 1215
[14:40] {Geo} 1:1 one lot out
[14:41] {Threei} what can you do Geo, this is price of volastility
[14:41] {Geo} i banked with heavy heart
[14:41] {Geo} TY
[14:41] {Threei} QID reached almost dollar profit, then bounced all the way back into trigger
[14:41] {Threei} it happens so fast on these moves, you just need to react on it rather than wait for a call
[14:42] {Geo} yeah
[14:42] {Threei} QQQQ hit .65
[14:42] {Geo} in 1200:50 out 1206
[14:42] {Threei} least effective of all of them leverage wise
[14:43] {Threei} bounce from here again
[14:44] {Threei} got 94 or so?
[14:44] {Threei} they tage levels and jump of them faster than I can type
[14:48] {Nemo} figures...quick 10 minutes away...sheesh
[14:49] {Geo} hmm Goldman leaying off 10%
[14:49] {Geo} about 3500
[14:52] {Threei} unclear here...
[14:53] {magoo} seems to easy to sell off into last hour again...but thats what been doing
[14:54] {Threei} feels more like down but not enough confidence for play
[14:56] {Threei} ok, working assumption is, one more little bounce and down again
[14:57] {Threei} QID around 84.50 is probably long
[14:57] {Geo} that was fast
[14:58] {Threei} got .56, looking to exit for about $1
[14:59] {Threei} sheesh
[15:00] {Geo} wow
[15:00] {Threei} stopped for -.15
[15:00] {Threei} too greedy
[15:00] {Nemo} Ti To
[15:00] {Threei} as if 70 cents was not enough, lol
[15:00] {lisa_jay} Vad, what kind of stop do you give for a volatile stock like QID? Thanks.
[15:01] {Threei} originally about 30 cents
[15:01] {Threei} but tightenting it as it nmoves
[15:03] {Threei} looks like line in sand is drawn for todsay
[15:03] {Threei} higher low
[15:04] {Threei} look for entry on pullback
[15:04] {Threei} NQ around 1195
[15:04] {magoo} too bad this mkt wouldn't go green 300
[15:05] {Threei} QQQQ around .37
[15:05] {magoo} mess up the shotrts
[15:05] {Threei} like clockwork
[15:05] {Threei} got NQ anyone?
[15:05] {Threei} or Qs?
[15:05] {Geo} no
[15:06] {Threei} come on... gave you exxact number this time
[15:06] {Threei} and it was hit perfectly
[15:06] {Threei} 11 points NQ
[15:06] {Threei} in one gasp
[15:06] {Geo} :(
[15:06] {Threei} 30 cents Qs
[15:06] {Threei} anyone??
06[15:07] * Threei removes himself to a very remote monastery
06[15:07] * Threei removes himself to a very remote monastery in Tibet without wi-fi
[15:07] {Geo} tivo?
06[15:07] * Threei removes himself to a very remote monastery in Tibet without wi-fi, Tivo but preferrably with strictly female personal
[15:08] {Chaeron} strick female personnel?
06[15:08] * Geo sending logs to the lady with the frying pan
06[15:08] * Threei cuts off Internet and burns down mailbox
[15:09] {Chaeron} drys
[15:09] {Geo} sniff NQ..... why did you leave without me?
[15:09] {Geo} 20 points
[15:09] {Threei} relief rally mode
[15:09] {Threei} pullbacks are for entry
[15:10] {Threei} pullbacks are likely to be severe
[15:10] {Threei} don't jump in on slight correction, wait for sharp down
[15:10] {Threei} Qs over 60 cents jump
[15:10] {Threei} and no takers
[15:10] {Threei} you guys...
[15:11] {Chaeron} a bit nervous... hesitant
[15:11] {Chaeron} and then, bam... too late
[15:11] {Geo} same here
[15:11] {Chaeron} more of psychological part of your training... not mechanical... important
[15:15] {Threei} oullback is likely here
[15:16] {Threei} Qs to about .60-.70
[15:16] {Threei} NQ to about 1210-1212
[15:17] {magoo} needs to reverse quick
[15:19] {Threei} one more leg down probably
[15:19] {Threei} very quick
[15:20] {Threei} entry time
[15:20] {Threei} in Q
[15:20] {Threei} .60
[15:20] {Threei} stop under .50
[15:21] {Threei} 1:2 in a hurry
[15:21] {Threei} out .78
[15:22] {Threei} anyone this time?
[15:22] {lisa_jay} .20 thanks Vad.
[15:22] {Threei} whew... no, thank you
[15:22] {Threei} a bit too soon out
[15:22] {Threei} but heck
[15:23] {lisa_jay} :-)
[15:23] {lisa_jay} I got .61 as entry, what would be the exit.
[15:23] {lisa_jay} Sorry - stop?
[15:23] {Threei} [15:20] {Threei} stop under .50
[15:23] {lisa_jay} Most are probably in the trade still.
[15:23] {lisa_jay} Thank you.
[15:24] {Threei} hmmm... thought of it of just a bounce scalp
[15:24] {Threei} underestimated market's eagerness to recover some
[15:25] {Threei} stuill pretty nervous out there
[15:25] {Threei} look how sharp pullbacks are
[15:25] {lisa_jay} yes.
[15:26] {dino} i'm using 8200-88 range for now.
[15:27] {dino} patience, your thoughts?
[15:28] {Threei} frankly, while I do appreciate these wide rane relatively fast days... today is too fast
[15:28] {Threei} hard to call things in time
[15:28] {Threei} have to almost type and lcik my entries at the same time
[15:29] {dino} yeah, i sat aside afternoon. too wierd
[15:29] {Geo} you need a typing monkey vad
[15:29] {Threei} I have a cat who walks on keyboard
[15:29] {Threei} will it do?
[15:29] {Geo} nope
[15:30] {_Dean} doing just fine until i had chicken for lunch
[15:30] {lisa_jay} Trust me...pets or kids only add to distractions.
[15:30] {Threei} let's try... come here george
[15:30] {Threei} cijfguy sjrha;aw9ugjd
[15:30] {Threei} makes sense?
[15:31] {Threei} OK, cat is out
[15:31] {Threei} this drop I don't like
[15:31] {Geo} today was tiring and wierd
[15:32] {Threei} violated upward channel
[15:32] {dino} could be the classic eod selloff
[15:32] {dino} go for lows or more
[15:32] {Threei} not buying this pullback for sure
[15:32] {Threei} this is not a pullback anymore
[15:32] {Threei} rather attenot to reverse the tren on 1 min
[15:33] {Threei} attempt
[15:33] {Threei} trend
[15:33] {Threei} lol
[15:33] {Threei} Geo... monkey would do better, I'll have to admit
[15:33] {Geo} :)
[15:34] {Threei} don't smile at me... you should be objecting, consoling, saying things like "no way, you are still better than monkey"
[15:34] {Geo} sheesh
[15:34] {Threei} lol
[15:34] {Geo} youre the best vad
[15:34] {Threei} great, now monkey feels deeply offended
[15:35] {Threei} OK, let's see if this bounce is short
[15:35] {Geo} man my head hurts from the psychedelic LII colors
[15:35] {Threei} Qs about .75
[15:35] {Threei} first weakness from here
[15:36] {Threei} in .74
[15:36] {Threei} stop .81
[15:37] {_Dean} in Q's .74 short
[15:37] {Threei} nervous jumping, not likeing it
[15:38] {Threei} prefer more smooth trades
[15:38] {Threei} out .65
[15:38] {Geo} half out
[15:39] {Threei} better now
[15:39] {Geo} 1/4 out
[15:39] {Threei} 1: alot
[15:40] {Threei} feel free to cover as you see fit
[15:41] {Geo} all out .51
[15:41] {Threei} too jumpy for my taste
[15:41] {Threei} I am a lazy tyoe, I hate struggling
[15:41] {Threei} profits must come easy
[15:42] {Threei} Dean?
[15:42] {Threei} you covered?
[15:44] {Threei} I find it hard to believe SLW price
[15:44] {_Case} Indeed.
[15:45] {Threei} you know what
[15:45] {Threei} it could be worth taking some overnight
[15:45] {Threei} stop under 3.30
[15:45] {_Case} It's almost at its IPO
[15:45] {_Dean} ou...
[15:45] {Threei} if today's bounce gets any continuastion tomorrow, it's very likely to get back to 4 at least
[15:46] {dino} what the?
[15:47] {Threei} lol
[15:47] {Threei} let me finish your sentence as Stewie would: What's the deuce??
[15:47] {hawkfan4} lol
[15:48] {Geo} wow dow +100
[15:48] {Geo} whats he range today?
[15:48] {dino} 8243-8795
[15:49] {Geo} nice
[15:49] {Threei} one of those near-extraordinary days
[15:49] {Threei} rally, sharp breakdown, new lows, rally again
[15:50] {Threei} all happening with lightning speed
[15:50] {Threei} I believe we handle it col-bloodedly enough (if that's a word)
[15:51] {Threei} hopefully tomorrow we get more of clear direction and a bit more manageable speed
[15:51] {Threei} and if not, our approach is the same:
[15:51] {_Dean} knocked over my bottle of gin...actually picked up +28 pts on QQQQ trade...4 for 4 today.
[15:51] {Threei} tight stops, reading things as they come, being easy to change the opinion
[15:51] {_Dean} Thanks Vad!
[15:51] {dino} gj
[15:51] {Threei} great job Dean
[15:51] {Geo} nice dean
[15:52] {Chaeron} nice one dean... and gin? must be Dean Martin
[15:52] {_Dean} Thanks guys!
[15:52] {Threei} if any of guests get any questions for tomorrow, prepare them and don't hesitate to ask
[15:52] {_Case} Thanks Vad
[15:52] {_Dean} have to stop drinking out of the bottle.
[15:52] {Threei} case :)
[15:53] {Threei} not taking any more trades today
[15:53] {Threei} took SLW overnight
[15:53] {Threei} unless it goes to 4 today, lol
[15:53] {_Case} Wouldn't surprise me :-)
[15:53] {Threei} lol, no kidding
[15:53] {Threei} any questions so far guys?
[15:53] {Threei} gals?
[15:54] {dino} dean's worse than magoo, at least he waits until 3:30 to crack a beer
[15:54] {Threei} lol
[15:55] {_Dean} enjoying every minute of it too....
[15:55] {dino} :)
[15:56] {_Case} FXE smells of USD reversal, if it occurs overnight I guess we get Vad's SLW target price at premarket
[15:56] {_Dean} dino.)
[15:56] {Threei} I won't mind
[15:56] {Threei} nothing's sweeter than to start day with +.50
[15:56] {_Case} :-)
[15:57] {Threei} and with about 15 cents risk... shrug
[15:57] {Threei} Ok guys, thank you all
[15:57] {Threei} have a great evening
[15:57] {_Case} Thanks are ours Vad
[15:57] {Threei} see you all tomorrow
[15:57] {_Case} For sure
[15:57] {_Case} and also Monday :-)
[15:58] {Threei} if there is Monday
[15:58] {Threei} interventionists may just cancel it
[15:58] {Threei} or whole October
[15:58] {_Case} Good point.
[15:58] {Threei} or whole fall
[15:59] {magoo} TY vad
[15:59] {_Case} Thanks everybody. It was fun. See you
[16:00] {peterg} bBye aalll
[16:00] {dptl} have a good evening all
[16:01] {_Dean} Thank you everyone!
[16:08] {dino} take care
Session Time: Thu Oct 23 00:00:01 2008
[07:38] {Nemo} Is anybody out there
[07:44] {Threei} Good morning sleepless souls
[07:44] {Threei} gosh... it's 4:44 am
[07:44] {Nemo} At my age, sleep is a luxury that doesn't come easy
[07:45] {Nemo} Forgot, your on the left coast
[07:45] {Threei} ok... but to yell that loud that early? :)
[07:45] {Threei} kidding
[07:45] {Threei} lemme get that coffee
[07:45] {Nemo} I'm not a chat afficianado...don't know what I'm doing
[07:47] {Threei} it's easy... type here for conversation with evceryone, doubleclick on my nick and type in new window that pops up to talk to me privatelty
[07:48] {Nemo} you referred to yelling...I know in blogging capital letter are considered yelling. I don't have that access
[07:49] {Threei} nah, that just was my cranky morning side, lol
[07:49] {Nemo} oh...your evil twin :)
[07:49] {Threei} futs look ominous so far
[07:50] {Threei} NQ - 19, SP -17
[07:50] {Threei} and ticking
[07:50] {Nemo} when I saw low positives last night I thought it would be a bad day.
[07:51] {Nemo} Haven't heard much about Lehman CDSs settlements. I wonder how much of yesterday was liquidation around that issue
[07:52] {Threei} well, we are so dangerously close to breakdown level, lows of Oct 10 and 16, it starts acting like a magnet
[07:52] {Threei} and iof broken...
[07:52] {Threei} let me look, I posted it yesterday
[07:53] {Nemo} IMO: P/Es have to get down to the 70s lows, and how much of these CDSs have to be wrung out, meaning more liquidations
[07:54] {Threei} [14:20] {Threei} $72B OF CREDIT SWAPS HAVE REPORTEDLY SETTLED WITHOUT INCIDENT THROUGH SELLERS PAYING $5.2B
[07:56] {Nemo} POT trumped earnings but outlook cloudy, trading up 5%. Won't last long.
[07:57] {magoo} morning
[07:57] {Threei} magoo :)
[07:57] {Threei} POT is glorified manure company
[07:58] {Nemo} You ever hear the parable about when the different parts of the body were discussing who should be boss? Manure is very important
[07:58] {Threei} yes, lol
[07:59] {Threei} (RU) S&P REVISES RUSSIA OUTLOOK TO NEGATIVE
[07:59] {Threei} {Russia} Fine, be that way... who to invade next?
[07:59] {Nemo} Russia is a few cities and swamp
[08:00] {Threei} yeah, but one of those cities has a lot of bling
[08:00] {Nemo} Garden Circle. 3 miles of money
[08:00] {Threei} yup
[08:01] {Nemo} Yeah, but cross the bridge...bad day...
[08:01] {Threei} Jobless claims in 28 minutes
[08:01] {Nemo} ADP numbers?
[08:02] {Threei} last 461K, continuing 3.282M
[08:03] {Nemo} LIBOR drop slows 3.535
[08:03] {Threei} after close earnings..,. KLAC, MSFT, GNW, WEN
[08:04] {Nemo} NOV just reporting
[08:04] {Threei} (CA) TO PROVIDE INSURANCE ON WHOLESALE BANKIN BORROWING
[08:05] {Threei} wow
[08:05] {Threei} canadian way to unfreeze credit market?
[08:05] {Threei} to take risk out of it completely?
[08:05] {Nemo} Lemmings doing same thing around the world can you say moral hazard...
[08:05] {Threei} I can feel a lot of unintended consequences coming
[08:06] {Nemo} Must be that 3rd eye talking :)
[08:06] {Threei} lol
[08:07] {Threei} just imagine how wide the gates are being open to lending influenced by greed or corruption, when risk is being completely erased
[08:07] {Nemo} You mean just like before...nahhh
[08:10] {Threei} PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET
[08:10] {Threei} - Expectations for initial claims are 468K v prior release of 461K
[08:10] {Threei} - Continuing claims seen at 3.715M v prior 3.711M.
[08:12] {Nemo} DOW profits down, Sales down
[08:12] {Threei} SAUDI ARABIAN OIL MIN: OIL PRICES WILL BE DETERMINED BY MARKET
[08:13] {Nemo} Hahah...I thought they'd play ball
[08:14] {Nemo} This will keep Chavez and Iran at bay, and help keep the price of gold down
[08:14] {Threei} as long as their cuts are reasonably within theior current surplus, they just don't matter
[08:14] {Nemo} Saudi needs $30 oil to pay their bills...more is gravy
[08:14] {magoo} vad, dcc
[08:14] {Threei} and to cut below that trying to create lack of oil, in current situation?
[08:15] {Threei} won't happen, IMO
[08:15] {Nemo} Politically dangerous
[08:16] {Nemo} Gold down again $24
[08:18] {Threei} BALTIC DRY BULK INDEX DOWN 5.9%, 14TH STRAIGHT DECLINE
[08:22] {Threei} be back in 5
[08:27] {Threei} IRAQI OIL MINISTER: OPEC PARTICIPANTS ARE BACKING PRODUCTION CUT, INCLUDING SAUDI ARABIA
[08:27] {Nemo} Yeah, but how much?
[08:29] {Threei} jobless claims in 2 min
[08:29] {Threei} in 1
[08:30] {Threei} NTITAL CLAIMS 478K V 468KE,
[08:30] {Threei} CONTINUING CLAIMS 3.72M V 3.715ME
[08:30] {Threei} - Prior Initial Jobless Claims revised from 461K to 463K
[08:30] {Threei} - Prior Continuing Claims revised from 3.71M to 3.73M
[08:31] {Threei} no immediate reaction by market
[08:32] {Nemo} DUG up oil basically unchanged on oil announcement
[08:32] {Threei} UAE: OPEC WILL DISCUSS OUTPUT CUT AT FRIDAY'S MEETING
[08:33] {Nemo} Mmmmh will they announce on Friday, or another weekend where you can't lay bets
[08:34] {Threei} somewhat encouraging how market takes jobless claims so far
[08:35] {Nemo} Getting blase about bad news
[08:40] {Threei} AMERICAN TECH RAISED AMZN TO HOLD FROM SELL, PRICE TARGET: $40
[08:42] {Threei} {AMZN} what kind of upgrade is that
[08:43] {Nemo} The "I don't know what I'm talking about, but I'll fake my expertise" upgrade
[08:45] {Threei} you can almost feel how desperately market is trying to back off this deadly edge, lows of 10/10
[08:50] {Threei} looks like we are in for the wild ride again for these two days
[08:51] {Threei} EMERGING MARKET CURRENCIES OFF SESSION LOWS ON CHATTER THAT IMF WILL PROVIDE $1T AID PACKAGE
[08:51] {Threei} 1T eh?
[08:52] {Nemo} Where's the IMF getting the money. The US is the IMF
[08:52] {Threei} monopoly money is being thrown around
[08:52] {Threei} any amounts are available, just ask
[08:52] {Nemo} Pesos??? I think we're down to rubles?
[08:53] {Threei} still not at mongol tougricks stage yet
[08:53] {Nemo} defensive???
[08:53] {Threei} backed by endless herds of cattle
[08:53] {Nemo} Love that kumis...
[08:53] {lisa_jay} Good Morning.
[08:54] {Threei} lisa :)
[08:55] {Nemo} lvlt loss narrows bid .35 ask .37 close.23
[08:56] {Threei} a bit too narrow for a day traading candidate
[08:57] {Nemo} would expect it to fade nicely today
[08:58] {Onix} Good morning all
[08:58] {Threei} Onix :)
[08:59] {Threei} markets are upticking
[09:00] {Threei} against another bad set of jibless numbers
[09:00] {Threei} jobless too
[09:02] {Threei} AMGN upticking
[09:02] {Threei} announced decent earnings and guidance yesterday
[09:02] {Threei} BC
[09:02] {Threei} REPORTS Q3 -$6.70 V -$0.50E (INCLUDES ITEMS), R $1.04B V $1.16BE
[09:03] {Threei} wow
[09:03] {Threei} -$6.70 V -$0.50E
[09:04] {lisa_jay} JBLU up
[09:04] {Threei} 07:16am [JBLU] Reports Q3 -$0.02 v -$0.04e, R $902M v $899.3Me
[09:05] {Threei} 5.25 is two days resistance for JBLU
[09:05] {Threei} was trying to break it yesterday when market selloff came and took it away from breakout level
[09:05] {Threei} SPOT GOLD BREAKS BELOW $700/OZ FOR FRESH 13 MONTH LOWS
[09:05] {Threei} gold is getting killed
[09:08] {Geo} gm
[09:09] {Threei} geo :)
[09:09] {dino} gm all. end of days again
[09:09] {Threei} dino :)
[09:11] {Threei} JBLU
[09:11] {Threei} CEO: WE ARE COMMITTED TO NO CAPACITY GROWTH IN 2009 - CONF CALL
[09:13] {Threei} OK guys, first, welcome to all gusts,
[09:13] {dino} lol. we are committed to not growing
[09:13] {Threei} move your chairs closer,
[09:13] {Nemo} I'm sensitive about trout
[09:14] {Threei} just don't touch that palm tree in the corner please, last time around too many cigarette butts in the pot damaged it
[09:14] {Threei} we have a rule about not trouting the guests
[09:14] {Threei} although we do break our rules frequently
[09:15] {Threei} second, let's form our working assumptions for the day
[09:15] {Threei} pattern lately was:
[09:15] {Threei} some selling at the opne, steady climb for a few hours, then sharp selloff closer to end of day
[09:16] {Threei} let's go with that for now, with one necessary comment:
[09:16] {Threei} we are very close to a dangerous breakdown level
[09:16] {Threei} so markets are likely tio be even more nervous
[09:17] {Threei} let's for now keep our bets to half lot unless stock is very thick and stop is fairly tight
[09:17] {Threei} alert format includes trigger for a trade, condition and stop level
[09:17] {Threei} like this:
[09:18] {Threei} Long Setup: ABCD 30.01 if stays above 29.90
[09:18] {Threei} 30.01 is a trigger,
[09:18] {Threei} breakdown of 29.90 is invalidating level if broken before triggering
[09:18] {Threei} and stop level if broken after
[09:18] {ese} good morning
[09:18] {Threei} ese :)
[09:19] {Threei} sometimes plays are more discretionary than that,
[09:19] {Threei} then alerts are somewhat fuzzy,
[09:19] {Threei} like:
[09:19] {ese} morning vad...and welcome the members to the board bomer buce nemo et al
[09:19] {ese} new members
[09:19] {Threei} ABCD is a bounce candidate, likely off 19.50 level, watch for nasdaq strength to guide entry
[09:20] {_Bruce} morning all
[09:20] {Threei} bruce :)
[09:20] {Threei} any questions so far?
[09:20] {_Case} Good morning Vad. and team.. thanks for the open house :-)... Question: How do you size "lot" in terms of your total capital per trade?
[09:20] {Threei} don't hesitate to ask if you get any
[09:20] {Threei} good morning case
[09:21] {Threei} we go with risk tolerance
[09:21] {Threei} idea isd:
[09:21] {Threei} you define how much you are willing to lose on any given trade
[09:21] {Threei} industry standard is 1-2% of your trading account
[09:21] {Threei} from here, having your stop loss on particular setup
[09:21] {Threei} you figure out lot size
[09:22] {Threei} example:
[09:22] {Threei} you are willing to lose no more than 200 on a trade,
[09:22] {Threei} stop size is 20 cents,
[09:22] {Threei} you can go with about 1000 share IF stock is thick enough so slippage is not an issue
[09:22] {Threei} when you deal with thin volatile traders, like RIMM,
[09:23] {Threei} no way you can count on no slippage
[09:23] {Threei} so you cut down your size
[09:23] {Threei} I usually iclude this evaliuation in alert
[09:23] {_Bruce} morn vadster
[09:23] {Threei} saying "half lot" or small shares"
[09:24] {ese} bruce...
[09:24] {_Bruce} howdy ese
[09:24] {Threei} for the open, considering volatility, let's keep them all to half lot
[09:24] {ese} vads a typing monster this morning......
[09:25] {Nemo} amazing with that accent
[09:25] {dptl} good morning all
[09:25] {Threei} youmean MIStyping monster?
[09:25] {Threei} dp :)
[09:25] {ese} dp!!!!!!
[09:25] {dptl} :)
[09:26] {_Case} Thanks Vad.. perfectly clear. Followup question: Are you / the regulars here sticking to 1% risk per trade, 0.5% or something higher?
[09:26] {Threei} I am generally keeping it within 1-2%
[09:27] {Threei} as for regulars... they all found and destroyed spy cameras I had installed in their offices... can't tell aymore
[09:27] {_Case} :-)
[09:27] {Nemo} once a kgb guy
[09:27] {Threei} lol
[09:28] {Threei} watching UAUA
[09:28] {ese} 1-2% for me as well
[09:29] {Threei} usually fast one at the open
[09:29] {Threei} sharp dive under 14 if happoens, will be buying opportunity
[09:29] {Threei} it often does that
[09:29] {Threei} consequent run is usually fairly impressive
[09:30] {Threei} open we are
[09:30] {Threei} market upticking
[09:30] {Threei} Long Setup: UAUA 14.20 if stays above 14
[09:30] {Threei} half lot
[09:30] {Threei} that was too fats, don't chase
[09:31] {ese} bstop CTXS 23.01
[09:31] {ese} filled
[09:31] {Threei} 40 cents in one gasp
[09:31] {ese} .5
[09:31] {Threei} 50 even
[09:31] {ese} sory .05
[09:32] {ese} out CTXS .34
[09:32] {Threei} UAUA pulling back
[09:32] {ese} +.29 ....that was a 1/2 ;ot
[09:32] {Threei} lol, that kind of redefines fast
[09:32] {ese} damn does it ever
[09:32] {Threei} if you still had your order at .20, that was the only way to get filled
[09:33] {Threei} if UAUA revisits that level again, it's not an entry anymore
[09:34] {Threei} watch JNPR for entry on pullback closer to 19
[09:34] {dino} ice sm l .25, stop .79
[09:34] {Threei} JNPR here
[09:34] {Threei} stop about 18.95
[09:37] {Threei} UAUA sharp down
[09:37] {Threei} sewe how thrid revisit of 14.20 was not an entery anymore?
[09:38] {_Case} Yes... Oil is up, does it trade in reverse?
[09:38] {Nemo} 3rd revisit breakdown
[09:38] {Threei} latelt UAUA mostly trades with market
[09:38] {Threei} JNPR no worky
[09:40] {lisa_jay} Almost got 1:1 on jnpr, quotes were bad, so too 8c loss. sigh.
[09:40] {Threei} Long Setup: FDRY .50
[09:41] {Threei} if stays above .35
[09:42] {Threei} if this one doesn't work, backing off longs longs
[09:42] {hawkfan4} AMGN .50 small, stop under .25
[09:43] {peterg} good morning all, honored guests
[09:43] {Nemo} market backing off
[09:43] {Threei} peter :)
[09:43] {hawkfan4} 1/2 out .85
[09:43] {Threei} no worky FDRY
[09:44] {ese} hawk are in AMGN?
[09:44] {Threei} market bounces are met with a lot of selling
[09:44] {Onix} stopped JNPR and FDRY
[09:44] {ese} was gonna bstop AMGN at .54.01
[09:44] {hawkfan4} stop .67 amgn
[09:45] {ese} god trading there hawk
[09:45] {ese} good!!
[09:45] {hawkfan4} thx es :)
[09:45] {ese} long AMGN
[09:45] {ese} 1/2
[09:46] {ese} .02
[09:46] {ese} out AMGN .24
[09:46] {ese} +.22
[09:46] {Threei} Short Setup: ADBE .50 breakdown if stays below .70
[09:47] {ese} hawk you still in....
[09:47] {hawkfan4} 1/4 out .20, stop .99 on last
[09:47] {hawkfan4} out
[09:47] {ese} nice
[09:47] {hawkfan4} thx, u2 es
[09:47] {dino} ice stopped -.40
[09:47] {ese} took your lead...tks for idea
[09:47] {hawkfan4} np
[09:48] {Threei} 24.45 is 52 week low for ADBE
[09:49] {Threei} invalidated for now but can become valid again if consolidates a bit closer to .50
[09:49] {lisa_jay} Very gerky movements this morning.
[09:49] {dino} sm l leco .10, stop .73
[09:49] {Threei} yup
[09:49] {Threei} about to trigger ADBE
[09:50] {Raven} beef gerky ?
[09:50] {dino} stopped, ouch, that was fast, sitting back
[09:50] {Threei} lost 52 week support
[09:51] {Threei} 1:1 ADBE, cover half
[09:51] {peterg} hmmmm
[09:51] {Threei} scalpers take full profit
[09:51] {Geo} out half .33
[09:52] {Threei} stop to above .50 for the balasnce
[09:53] {ese} by the way ....what were apples numbers anyone know?
[09:53] {Nemo} APPL forward guidance was very soft...surprise...
[09:54] {hawkfan4} 21-Oct-08 16:47 ET In Play Apple beats by $0.15, misses on revs; guides Q1 EPS below consensus, revs below consensus
[09:54] {ese} tks
[09:55] {Threei} uaua
[09:55] {dino} aapl, rimm green
[09:55] {ese} hmmmmmm$101.00 to $93.00 mild punnishment from the stree
[09:56] {Nemo} double bottom on rimm?
[09:56] {lisa_jay} JBLU
[09:57] {Threei} too far from there nemo... no chasing
[09:57] {Geo} out half adbe
[09:57] {Nemo} too old to chase
[09:57] {peterg} lucky
[09:57] {Threei} yeah, second half ADBE stopped about b/e
[09:57] {Threei} too bad, this one had potential to much bigger
[09:59] {dino} leco last try sm l .50, stop .13
[09:59] {dino} peter :)
[09:59] {hawkfan4} with ya dino .52
[09:59] {dino} ok, lets ride it
[10:00] {Threei} AUG HOUSE PRICE INDEX (M/M): -0.6% V -0.5%E
[10:00] {dino} cme rocking, watch ice
[10:00] {magoo} vad, news BIDU?
[10:00] {ese} the gods are always with you dino......should be no problem for you
[10:00] {Threei} not really
[10:00] {dino} i prefer lady luck
[10:00] {Threei} Merril lowered price target
[10:01] {magoo} to what?
[10:01] {Threei} 390
[10:01] {Threei} OFHEO'S LOCKHART: MUST PREVENT FORECLOSUYRES, FNM AND FRE WILL PURCHASE MORE MORTGAGES
[10:01] {ese} well then.......this is a clean board
[10:01] {hawkfan4} earnings last night mags
[10:01] {Threei} US) SEC'S COX: VOLUNTARY REGULATION DOES NOT WORK
[10:01] {dino} ice off of .00 sm l
[10:01] {Threei} hmmm?
[10:02] {dino} no trig
[10:02] {Threei} FDIC'S BAIR: RECENT ACTIONS ARE HAVING EFFECTS, AFFIRMS THAT FORECLOSURES MUST SLOW
[10:02] {Nemo} Yeah, I promise to lock myself up if I rob a bank
[10:02] {ese} done for the day all......early morning with a couple of meeting....see you tomorow.....
[10:02] {Threei} too much reassuring goes on
[10:02] {magoo} almost geeen here
[10:02] {hawkfan4} cya es
[10:02] {ese} see ya hawk
[10:02] {Threei} take care ese
[10:02] {ese} vad
[10:03] {dino} cya es
[10:04] {peterg} GE now at half of what genius me sold it for this summer
[10:04] {dino} ok, risky, ice trig, wide careful. want a buck
[10:05] {hawkfan4} ICE ..02 small
[10:05] {dino} need rimm aapl to join party imo, otherwise trouble
[10:06] {Threei} AMGN is determined
[10:06] {dino} aapl says fine dino
[10:06] {dino} hawk, careful ice violent pullbacks
[10:07] {hawkfan4} k, thx
[10:07] {dino} next time i start so early hawk, slap me
[10:07] {dino} i'm better at 9:50
[10:07] {hawkfan4} lol, u got it :)
[10:08] {dino} ok, fear/greed on both
[10:09] {Threei} market moved away from breakdown area
[10:09] {dino} close to yesterdays low 8335, maybe????
[10:10] {Threei} RIMM is back into lows
[10:10] {magoo} [10:07] {dino} next time i start so early hawk, slap me
[10:11] {magoo} slap me
06[10:11] * hawkfan4 slaps magoo around a bit with a large trout
06[10:11] * Geo slaps magoo around a bit with a large trout
[10:11] {magoo} i meant dino
06[10:11] * Geo hurts more
[10:11] {hawkfan4} :)
[10:11] {Nemo} easy on trout boys...cousins
[10:12] {Threei} RIMM .60 break long small shares
[10:12] {Threei} if stays above .30
[10:12] {dino} hawk, theres your buck
[10:12] {dino} ice
[10:12] {Nemo} cup and handle on nov?
06[10:13] * dino slaps magoo around a bit with a large trout
[10:13] {dino} lol nemo, how's dori
[10:14] {hawkfan4} beauty dino, 1/2 out .07 +1.05
[10:14] {Threei} invalidated
[10:14] {Nemo} left me for someone with bigger fins :(
[10:14] {dino} great job
[10:14] {Geo} well technically dori knew nemo's dad
[10:14] {Geo} but i am not nitpicking
[10:15] {Threei} RIMM starts looking like breakdown
[10:15] {Threei} lol, broke while I typed
[10:15] {lisa_jay} mixed emotions, chopping up down, up down
06[10:15] * dino slaps Geo around a bit with a large trout
[10:15] {Threei} very choppy, yeah
[10:16] {Threei} nervous market
[10:16] {Threei} Greenspan on TV
[10:17] {dino} it's his fault, but they treat him like a god
[10:17] {Threei} amazing isn't it
[10:18] {_Case} Triangle consolidations forming in SPY,QQQQ? (1-min charts)
[10:18] {Threei} can't place much signifinace in it, case
[10:19] {lisa_jay} uaua and cal selling off hard...dal could be next?
[10:19] {Threei} market doesn't really go with normal patterns today
[10:19] {Threei} if loses 9, lisa
[10:20] {lisa_jay} I tried to short at .13 with stop above .15...not available to short :-(
[10:20] {Threei} available here
[10:21] {Threei} UAUA sudden;y became unavailable
[10:21] {Threei} was yesterday
[10:22] {hawkfan4} available for me
[10:22] {Threei} market slowed down - is it Greenspan effect?
[10:22] {Threei} market used to fall asleep during his testimonies
[10:22] {_Bruce} fitb
[10:23] {Threei} VENEZUELA MIN: OPEC CUT WILL BE AT LEAST 1M/BPD, SEES TWO WAVES OF PRODUCTION CUTS
[10:23] {Threei} looking for breakdown bruce?
[10:23] {Nemo} Saudi response will be most important
[10:24] {hawkfan4} out rest ice +1.46, thx again dino
[10:24] {Threei} good one guys
[10:24] {hawkfan4} thx
[10:27] {dino} ngj hawk
[10:28] {_Bruce} possible break vad- actually thinking long bounce is higher probablility
[10:30] {_Bruce} l fitb 11 stop 6c
[10:31] {_Bruce} stopped fitb
[10:32] {Threei} market feels to be running out of gas again
[10:33] {Threei} Short Setup: ADBE .69 if stays below .85, half lot
[10:33] {Threei} invalidated
[10:33] {Threei} and markety changed its mind on a whim
[10:34] {Threei} am I hallucinating or PETS actually makes 52 week highs?
[10:35] {Threei} *EIA NATURAL GAS INVENTORIES: +70 BCF VS. +75 TO +80 BCF RANGE OF ESTIMATES
[10:35] {Threei} {UNG}
[10:38] {Chaeron} Good morning all. Sorry I'm late
[10:39] {Threei} chaeron :)
[10:39] {Threei} didn't miss much anyway
[10:39] {Geo} hey chaeron
[10:39] {Threei} listlesss market
[10:39] {Threei} Long Setup: AMGN .15 half lot
[10:39] {Threei} if stays above 55.90
[10:40] {hawkfan4} in .17
[10:40] {Threei} half out AMGN closer to .50, scalpers know what to do
[10:41] {Threei} out half
[10:41] {Threei} offer the balance above .70
[10:41] {Geo} .14 out .68
[10:41] {Threei} out in full
[10:41] {Geo} nice vad
[10:42] {Chaeron} beauty Vad
[10:42] {Threei} me? beauty?
[10:42] {Geo} just in time chaer !
[10:42] {Threei} careful chaeron...
[10:42] {Chaeron} missed it Geo
[10:42] {Geo} oh :(
[10:42] {Chaeron} I'm not THAT drunk Vad
[10:42] {hawkfan4} out full .15
[10:42] {Threei} lol
[10:42] {Threei} finally decent play
[10:42] {hawkfan4} beauty call, thx vad
[10:42] {Threei} welcome
[10:43] {dptl} out mgn +.30 and +1.00 ty
[10:43] {_Bruce} amgn ripping long
[10:43] {Threei} wow, out too soon
[10:43] {Geo} maaan
[10:43] {Geo} this one call washed out 2 stoputs
[10:43] {Geo} could have dome more
[10:43] {Threei} that's the idea, isn't it
[10:43] {Threei} keep stops tight
[10:43] {Geo} oh yeah
06[10:43] * Geo mumbles
[10:44] {dino} hawk leco on your own...
[10:44] {hawkfan4} UAUA .88 long, stop under .80
[10:44] {Threei} now, the luckiest one on this trade would be a trader who suddenly fell asleep for 5 minutes after entering
[10:44] {Threei} market got happy all of a sudden
[10:44] {magoo} huh..u wake me?
[10:45] {magoo} wow am i lucky guys
[10:45] {_Bruce} s aapl 98.25 50 c stop
[10:45] {Threei} lol magoo
[10:45] {dino} hey, is that original bruce?
[10:46] {_Bruce} you bet dino
[10:46] {Threei} gutsy short bruce
[10:46] {magoo} BRUCEEEEEEEEEE
[10:46] {Threei} don't oversit
[10:46] {dino} good to see you
[10:47] {_Bruce} out aapl +55 c
[10:47] {_Bruce} you too dino
[10:47] {Threei} beautiful one, wtg
[10:47] {_Bruce} thanx
[10:47] {_Bruce} lucky
[10:47] {Geo} wow twins
[10:47] {Geo} lol
[10:48] {dino} lucky, that a boy bruce
[10:48] {_Bruce} lol
[10:48] {_Bruce} better to be lucky and dumb
[10:48] {_Bruce} than smart and broke
[10:48] {Threei} than poor and at war?
[10:48] {_Bruce} that too
[10:49] {Threei} RIMM is still red
[10:49] {hawkfan4} stopped uaua
[10:49] {dino} okj hawk, out ice .80, +1.80
[10:49] {Threei} UAUA kind of lost it hawk
[10:49] {hawkfan4} sweet, nice dino
[10:49] {Threei} had too big of a run, needs rest
[10:49] {dino} had 2.25 but lost
[10:50] {hawkfan4} yep, tired
[10:50] {dino} like to see pullback to 68.50 area
[10:51] {hawkfan4} i'll be watching it
06[10:51] * _Bruce slaps magoo around a bit with a large trout
[10:51] {dino} thing's like pulp
[10:51] {Threei} APOL
[10:51] {Threei} too jumpy...
[10:52] {Threei} had an idea of long near 61
[10:52] {Threei} but thing teleports in seconds
[10:52] {magoo} 1 day we are going to get 600 up...just don't know when...we are riculously oversold
[10:52] {Threei} let's let APOL go, too jerky
[10:52] {Threei} we are mags
[10:53] {Threei} not to say we can't sell more
[10:53] {Threei} but rememner up days last week or two
[10:53] {magoo} not saying bull mkt...but c'mon...shorts win every day
[10:53] {Threei} those were the easiest money in a year
[10:53] {Threei} no even need to scalp, buy and hold for a few hours
[10:54] {Threei} pretty much looking forward to datys when market returns to this mode
[10:54] {Threei} days too
[10:54] {magoo} i know..and shorting here feels like suicide...but i would have produced great $$ all week'
[10:54] {Threei} actually, looking at chart right now
[10:54] {Threei} we pretty much may get it today
[10:55] {dino} fwlt sm l .00, stop lod
[10:56] {dino} yes today and a bit more tomorrow, perhaps monday too, then more death
[10:56] {Threei} very well could be
[10:57] {Threei} I won't even pretend I can foretell what this crazy market is going to do, lol
[10:57] {Threei} OK
[10:57] {Threei} Long Setup: NQ 1255
06[10:57] * Geo just acquired an 8 ball and polishing it
[10:57] {Threei} stop under 1250
[10:58] {Threei} Short Setup: QID into bounce, small shares
[10:58] {Threei} as close to 76.50 as you can get
[10:58] {Threei} yeah right QID says
[10:59] {Threei} here it is
[10:59] {Threei} if you got QID around .30-.40, stop above .60
[10:59] {Threei} cover half here
[10:59] {Threei} scalpers cover in full
[10:59] {Geo} NQ? target?
[11:00] {Threei} NQ half out into spike above .60
[11:00] {Threei} there
[11:00] {Geo} :)
[11:00] {magoo} vadd..at what level will buy programs trigger?
[11:00] {Threei} QID, who held balance feel free to cover in full under 75
[11:01] {hawkfan4} 1/2 out nq +10, thx vad
[11:01] {magoo} qqqq 33.50?
[11:01] {Threei} no idea mags
[11:01] {Threei} I haven't programmed them
[11:02] {Threei} QID gave over a dollar
[11:02] {dino} fwiw gap from yesterdays' open and tues. close, dji 9033
[11:03] {Threei} NQ hit 1:2 actually... missed that whilke messing with QID
[11:03] {Geo} yeah out
[11:03] {Threei} out in full?
[11:03] {Geo} TY
[11:03] {Threei} cool
[11:03] {Threei} welcome
[11:04] {Threei} DOW CEO: EQUITY MARKETS HAVE BECOME DISCONNECTED FROM REALITY
[11:04] {Threei} you don't say
[11:05] {Threei} btw, one comment for guests
[11:05] {Threei} when we make a call on NQ,
[11:05] {Threei} it's a general market read,
[11:05] {Threei} and if you don't play e-minis
[11:06] {Threei} you can follow the call with any of the stocks you have on watch IF that stock follows the market
[11:06] {Geo} back in black !!!
[11:06] {Geo} and then some
[11:06] {Threei} have a look at
[11:06] {Threei} RIMM
[11:06] {Threei} AAPL
[11:06] {dino} gj geo
[11:06] {Threei} ADBE'
[11:06] {Threei} DELL
[11:07] {Threei} they all did what NQ did
[11:07] {Threei} plaaying any oftehm you can follow the NQ/QID call
[11:07] {Threei} just identify entry point matching NQ trigger
[11:08] {Threei} if any questions about the concept, don't hesitate to ask
06[11:08] * Geo asks if he can have some more please
[11:08] {Threei} be back in 10 while you think about questions
[11:08] {Threei} real questions... not like one above {Grin}
[11:09] {peterg} what use for NQ?
[11:09] {Geo} for americans? biggest is taxation and lower costs and lesser reporting
[11:09] {Geo} and oh yeah leverage
[11:10] {peterg} anybody? I mean what index do you access & read for NQ, or am I missing the point?
[11:10] {magoo} qqqq
[11:10] {peterg} got thta, thks
[11:10] {magoo} i keep up minute chart all the time
[11:10] {magoo} cant trade without it
[11:11] {Geo} yup
[11:11] {dino} nihd blood
[11:11] {dino} i watch ndx
[11:12] {magoo} another good indicator of naz direction is aapl too peterg
[11:12] {lisa_jay} Magoo you have both nq and qqqq 1 min charts?
[11:12] {magoo} i use just qqqq
[11:12] {magoo} really helps
[11:13] {peterg} Lisa, you got nq?
[11:13] {lisa_jay} yes.
[11:13] {Geo} qqqq trades like NQ almost perfectly
[11:13] {lisa_jay} TOS charts.
[11:13] {peterg} tks
[11:13] {Geo} if you hav TOS watch NQ
[11:13] {peterg} TOS....?
[11:14] {lisa_jay} think or swim
[11:14] {peterg} lol
[11:14] {Geo} best platform ever for options
[11:14] {peterg} me just have laser
[11:14] {Geo} laser and IB here
[11:14] {peterg} International Bridge
[11:15] {peterg} Irritable Bowel
[11:15] {peterg} sorry
[11:15] {magoo} dino has cyber and BO
[11:15] {Geo} Interactive Brokers longterm and NQ only
[11:15] {Geo} hahahahaha
[11:15] {Threei} back
[11:15] {peterg} :)
[11:15] {magoo} smoke?
[11:15] {peterg} if so, what?
[11:15] {lisa_jay} Geo if not buys dcc?
[11:15] {Threei} lol
[11:15] {dino} out fwlt .40, +.40
[11:16] {Geo} sure
[11:16] {lisa_jay} sorry busy.
[11:16] {Threei} nice... our provincial govt cut income tax by 5% retroactive to beginning of 2008
[11:16] {Geo} wow
[11:16] {Geo} so canadians capitalist now?
[11:16] {Threei} good one dino, wtg
[11:17] {dino} i'm moving to canada. out idiots want to raise taxes in recession
[11:17] {Geo} my residency in canada expires this dec sniff
[11:17] {Threei} that was exactly what turned crash of 1929 and potential recession into depression
[11:17] {Threei} capital tax raise, isolationism
[11:18] {Chaeron} dino is Ireland a better choice?
[11:18] {dino} dk, i'm usa
[11:18] {Threei} trying to gauge if market is out of gas or just taking a breather here
[11:18] {dino} ice dropping
[11:19] {Threei} feels like small bounce and more drop for now
[11:19] {dino} right now 40% of americans pay no tax, and they want to raise it on ones paying
[11:19] {Geo} 40% really???
[11:19] {dino} y
[11:19] {Geo} man i feel overtaxed
[11:20] {dino} top 10% pay 50%
[11:20] {Threei} if materializes, watching DELL for short into bounce closer to 12.40
[11:20] {dino} to be in top 10% you only have to make $93k
[11:20] {Geo} and how much do they make?
[11:20] {Geo} 90?
[11:20] {dino} which today is not much
[11:20] {magoo} geo..i thought u were usa
[11:21] {Geo} ?
[11:21] {magoo} us citizen
[11:21] {Geo} nope
[11:21] {dino} all we do is lower the income level for "wealthy" and tax the sh#t out of them
[11:21] {Geo} Univ filed in 2003
[11:21] {Geo} still waiting behind the illegals
[11:22] {dino} class warfare in this election
[11:22] {dino} and my ranting is done for today
[11:22] {magoo} thank goddddddddd
[11:22] {Threei} lol
[11:22] {magoo} hes throwing stuff in my direction again vad
[11:22] {_Bruce} rant rant rant
[11:22] {_Bruce} fume fume fume
[11:23] {Threei} UPS
[11:23] {Threei} CFO: FORECASTS WORLDWIDE EXPORTS +5% IN Q4 - CONF CALL
[11:23] {_Bruce} what we need to do is strat taxing these low life day traders
[11:23] {_Bruce} specially guys like mags
[11:23] {dino} we already pay highest rates
[11:23] {dino} short term gains, then amt hits
[11:24] {Threei} FDIC'S BAIR: WILL SEEK TO CLOSE BANKS EARLY THAT MAY FAIL, WILL BE 'PLENTY' MORE
[11:24] {Threei} oh great
[11:24] {Geo} wow dino
[11:25] {Geo} i i get hit six ways to sunday.... pay SSN even if not eligible
[11:25] {Threei} US TREASURY'S KASHKARI: WILL DEPEND UPON REGULATORS IN DECISION MAKING PROCESS REGARDING WHICH BANKS TO TAKE EQUITY STAKES
[11:25] {Geo} consider it the price for being here myself
[11:25] {Threei} DELL didn't even try to bounce
[11:25] {Threei} too bad
[11:28] {dino} risky sm s ice .10
[11:28] {dino} stop .51
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
06[11:28] * magoo slaps Threei around a bit with a large trout
06[11:28] * Chaeron slaps laserdave1 around a bit with a large trout
06[11:28] * laserdave1 slaps Threei around a bit with a large trout
[11:28] {Threei} sigh
06[11:28] * laserdave1 slaps Chaeron around a bit with a large trout
[11:28] {Threei} relax guys
[11:28] {Threei} oh, that's actually what you are doing
[11:29] {Threei} Short Setup: ADBE 25 break if stays under 25.15
[11:30] {Geo} invalid?
[11:31] {dino} ice stopped cov -.43
[11:31] {Threei} for now, yes, but if consolidates here for a few again, and market resumes downward will be valid again
[11:31] {Geo} ok
[11:32] {dino} cedc sm l .80, stop lod
[11:33] {Nemo} just sittin' watchin' the paint dry...
[11:33] {Threei} valid again with market help
[11:37] {Threei} let's trail stop to above .10
[11:37] {Threei} just too unclear here, want to keep stop tighter
[11:38] {Threei} last bounce topped out at .05, so trailing to .10 is reasonable
[11:40] {Threei} die already ADBE
[11:40] {laserdave1} magoo dcc
06[11:40] * Threei smacks ADBE on the head with 2x4 endowed with rusty nails
[11:42] {Geo} half out .85
[11:42] {Threei} Attention: ADBE 1:1
[11:42] {Threei} half out, scalpers take profit
[11:42] {Threei} stop for the balance to just above 25
[11:42] {lisa_jay} 15c, thanks Vad.
[11:42] {Threei} welcome
[11:44] {_Dean} 2:1, Thanks Vad.
[11:44] {Threei} :)
[11:45] {Threei} 1:2
[11:45] {Threei} 1/4 out or cover in full
[11:45] {Threei} your choice
[11:45] {Threei} if keeping 1/4, stop to .91
[11:46] {Threei} ok, this I don't get:
[11:47] {dino} ice sm s .50, stop .01
[11:47] {Threei} Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.
[11:47] {Threei} ``We've reached a situation of sheer panic,'' Roubini, who predicted the financial crisis in 2006, said at a conference in London today. ``There will be massive dumping of assets,'' and ``hundreds of hedge funds are going to go bust,'' he said.
[11:47] {_Dean} 1:3 last half. ty .
[11:47] {Threei} good job Dean
[11:47] {Threei} explain to me please, what those funds are going to do if markets are closed
[11:47] {_Dean} All Hail Vad!
[11:47] {Threei} how do they liquidate?
[11:48] {Threei} or he means they won't?
[11:48] {Geo} they panic and dump when markets open
[11:48] {Geo} thus even worse
[11:48] {Chaeron} hmmm "sheer panic"... we're close to a bottom
[11:48] {Nemo} Vad the scalper...like Vad the impaler?
[11:48] {Threei} then what happens over this week to prevent dumping when it opens?
[11:48] {peterg} I will buy 1 million shares for .10c
[11:48] {Threei} lol nemo
[11:48] {Geo} thats what he was calle din high school
[11:48] {hawkfan4} Vad the Trouter
[11:48] {Geo} out
[11:48] {Nemo} How does one trout?
[11:49] {Nemo} I'm getting bad visuals
06[11:49] * Threei swears he never tells anyone where nicknames Enforceer and KneeCapSAhooter came from
[11:49] {Chaeron} Right click on nick you want to hit and select from drop down menu
[11:49] {Geo} 27 cents TY vad
[11:49] {Threei} welcome sir
06[11:49] * Chaeron slaps Nemo around a bit with a large trout
[11:50] {Threei} yeah... like that
[11:50] {Nemo} That's fratricide!!!
[11:50] {dino} ice stopped again,
[11:50] {peterg} nemo, thats this group for ya
[11:50] {peterg} also, can commit trout suicide
[11:51] {Threei} ``Systemic risk has become bigger and bigger,'' Roubini said at the Hedge 2008 conference. ``We're seeing the beginning of a run on a big chunk of the hedge funds,'' and ``don't be surprised if policy makers need to close down markets for a week or two in coming days,'' he said.
[11:51] {Threei} I feel like I am in some parallel universe
[11:52] {peterg} era ouy
[11:52] {Nemo} Those countries running to the IMF is just like running to the US. This is for reserve currency control
[11:52] {Threei} in the one I live in these things just don't happen
[11:54] {Threei} we all may have to move back to Kripton
[11:54] {Nemo} I'll lose my superpowers :(
[11:54] {peterg} Jor-el, where are you now?
[11:54] {Threei} should be easy transition for magoo, he is a Martian anyway
[11:55] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: RUSSIA HAS THE POTENTIAL TO AVOID BANKING AND CURRENCY CRISIS
[11:55] {dino} now ice falls, sheesh
[11:55] {Threei} Imo... THOSE THAT DO DON'T TALK LIKE THAT
[11:56] {Threei} oops, sorry caps
[11:56] {Nemo} That hurt my ears
[11:57] {Geo} yeah kashkari !!!
[11:57] {Geo} spreading the wealth
[11:57] {Geo} post the nes pls vad
[11:57] {Threei} Short Setup: UAUA .50 break if stays below .65
[11:57] {Geo} news
[11:57] {Threei} what news geo?
[11:58] {Geo} 8:56
[11:58] {Geo} TTN
[11:58] {Geo} [08:57] {Geo} yeah kashkari !!!
[11:58] {Geo} [08:57] {Geo} spreading the wealth
[11:59] {Threei} oh, lol
[11:59] {Threei} you confudsed me with time stamp
[11:59] {Threei} TREASURY'S KASHKARI: A 'FEW WEEKS' ARE NEEDED BEFORE THE NEXT SEGMENT OF BANKS ARE ANNOUNCED FOR PARTICIPATION IN TARP PROGRAM
[11:59] {Threei} - Will attempt to to have $250B in equity injections done by year end
[12:00] {Threei} it's 11:56 in trading world, you see
[12:01] {Geo} there is only one world
[12:01] {Geo} SoCal
[12:01] {_Muddleheaded} Vad, how to you manage $US/CDN exchange? Do you convert $US to $CDN every night?
[12:01] {_Bruce} mos looks weak - possible short - can be very volatile trader
[12:01] {Threei} no muddleheaded (what a nick, lol)
[12:01] {Geo} :)
[12:01] {Threei} money is in USD tading account
[12:02] {Threei} when I withdraw profits, I convert to CAD
[12:02] {Threei} sometimes waiting for a few days if I see chart as an opportunity to get a better rate
[12:02] {_Muddleheaded} Do you think the $CDN is oversold?
[12:03] {Threei} really no idea... was it oversold when exhcnage rate was around .60?
[12:03] {lisa_jay} uaua stil valid Vad?
[12:03] {Threei} yes lisa
[12:03] {Threei} see, CDN is pretty much petro currency,
[12:03] {Threei} commodity currency,
[12:04] {Threei} with commodities going into basement, it's no wonder CAD drops,
[12:04] {_Muddleheaded} That's for sure, thanks Vad.
[12:04] {Threei} then cycle starts:
[12:04] {Geo} booohoohoo
[12:04] {Threei} economy weaknes,
[12:04] {Geo} UAUA not available
[12:04] {Threei} BoC has to cut rates
[12:04] {Threei} which weakens CAD even more
[12:05] {Threei} and US economy is the basement which means sharp drop in non-oil related sectors in Canada
[12:05] {Threei} we see it in Ontario as we speak
[12:05] {Threei} so it's kind of triple whammy on CAD
[12:05] {Threei} UAUA 1:1
[12:05] {_Bruce} out mos + 42c
[12:05] {Threei} half out or take scalp
[12:06] {Geo} ?
[12:06] {Geo} laser didnt let me
[12:06] {Threei} no
[12:06] {Threei} but some may have it for short
[12:06] {Geo} i know
[12:06] {Geo} you in the superlicious secret group vad?
[12:06] {Threei} so I provide commentary for all, not limiting them to you only Geo... sorry
[12:07] {Chaeron} Geo thinks he's the center of the universe :)
[12:07] {peterg} he's not?
[12:07] {Geo} thats what you told me over beer chaeron !!!
[12:07] {Threei} well, I can't blame him, I think pretty much the same of myself
[12:07] {Chaeron} just wanted to make you feel good buddy :)
[12:07] {Threei} and it comes as a great surprise to me when I see people thinking otherwise
[12:07] {Geo} lol chaer
[12:08] {Geo} just wistfull about 20 cents thats all
[12:08] {Threei} amazingly enough, there are 7 billions of those
[12:08] {Threei} can you believe it?
[12:08] {_Bruce} rimm headiong to daily lows
[12:08] {Chaeron} I can't believe with as stupid as the human race is, we've reached 7B
[12:08] {Geo} hey magoo you there?
[12:08] {Threei} yeah, looking at RIMM for short at .50 break
[12:08] {Threei} would prefer some bounce first though
[12:09] {Threei} why chaeron... this I actually find easy to believe, considering how little smarts the process requiress {Grin}
[12:09] {Geo} really?
06[12:10] * Geo will go back in PG mode
[12:10] {lisa_jay} 22c on UAUA thanks Vad.
[12:10] {Threei} skipping RIMM short here
[12:10] {Threei} welcome lisa
[12:10] {Geo} damn
[12:10] {Geo} nice lisa
[12:10] {Threei} muddle... one more comment on CAD
[12:10] {lisa_jay} Thanks Geo.
[12:11] {Chaeron} thanks Vad... nice cancel notice... saved me big... -.08 only on RIMM
[12:11] {Threei} consider this market manner to overshoot reasonable targets
[12:11] {_Dean} out in full uaua 1st half 1:1 second half 1:2.5, second realitytrader trade both winnners
[12:11] {Geo} wierd spike
[12:11] {Threei} I was hesitant on it from get go chaeron
[12:11] {Threei} eread my first comment
[12:11] {Chaeron} I know... but you know I'm aggressive
[12:11] {_Muddleheaded} I guess everything is unreasonable now, thanks Vad.
[12:11] {Threei} beautiful Dean
[12:12] {Threei} right, that's what I mean
[12:12] {_Dean} thank you sir!
[12:12] {Threei} if fundamen tals say CAD should be where it is now (I don';t know if they are)
[12:12] {Threei} then market is very likely to overshoot it by moving much further in trend direction
[12:13] {Threei} just take a look at daily chart UAUA
[12:13] {Threei} the most fresh example
[12:13] {Geo} 15 res
[12:13] {Threei} frikin thing drops from about 14 to under 5
[12:14] {Threei} from 09/16
[12:14] {Threei} rallies from there to over 16
[12:14] {Threei} was there such drastic change of fundamentals over such short period of time?
[12:14] {Threei} this is state of utter confusion
[12:15] {Threei} and emotions-driven trading
[12:15] {peterg} you mean.....market is not unlike gambling?????
[12:15] {Threei} ummm
[12:15] {peterg} never mind
[12:15] {Threei} there are some analogies
[12:15] {peterg} kdg
[12:15] {Threei} but look at it this way
[12:15] {Nemo} yeah...gambling's one of 'em
[12:15] {Threei} no, it's a valid angle
[12:16] {Threei} there are gamblers that simply gamble
[12:16] {Threei} and there are those that watch faces
[12:16] {peterg} agree & like the emphasis on multiple perspectives
[12:16] {Threei} count cards
[12:16] {lisa_jay} I am one of them...
[12:16] {Threei} remember movie Rounders?
[12:16] {lisa_jay} Gambler that is
[12:16] {Nemo} and then there's the 3rd eye
[12:16] {Threei} amazing analogy between a good professional card player and trader
[12:16] {Nemo} Rounders...great movie
[12:17] {peterg} third ear from psychoanalyst Reik, i think
[12:17] {Threei} so, in a sense that a trader as a good gambler needs to know patterns,probabilities and read emotions, yes
[12:17] {peterg} Third eye--Hindu concept?
[12:17] {Nemo} shamanistic concept
[12:17] {peterg} I like tt
[12:17] {Threei} in a sense that trading is just like throwing aa dice and hoping... only if it's a bad trader :)
[12:18] {Nemo} goes back to Tungusia...yes, beard?
[12:18] {Threei} lol
[12:18] {Threei} never been there
[12:18] {Nemo} Nothin but mosquitos and kumis, and people w/no teeth
[12:18] {peterg} where?
[12:18] {peterg} Tungusia?
[12:19] {peterg} near Louisiana?
[12:19] {peterg} or Urals?
06[12:19] * Geo totally lost
[12:19] {Nemo} russian hinterlands north of china/mongolia
[12:19] {peterg} wos
[12:19] {Geo} ok
[12:19] {peterg} wow
[12:19] {dino} ugh ice, stopped my short by .20, then drops 2.30
[12:20] {Threei} market is back to a pattern of selling second half of the day
[12:20] {Threei} let's watch for bounces to short into
[12:20] {Threei} RIMM bounce into .60 - .70 resistance area
[12:21] {Threei} wow ADBE... did we cover early
[12:21] {Threei} or rather... why didn't we reshort bounce back into 25
[12:21] {Threei} anyway, nearest resistance is .65 - .70 area
[12:21] {Nemo} too busy chatting
[12:22] {Geo} i guess vads a good host
[12:22] {Threei} lame excuse but I'll take it
[12:22] {Geo} making polite conversatiopn
[12:22] {Geo} lol
[12:22] {peterg} some champagne with your shrimp, sir?
[12:22] {Threei} well, it's either that or vodka Geo...
[12:22] {Nemo} I missed skf turn...caviar please...
[12:23] {Nemo} vodka...ran out last night
[12:23] {Threei} ADBE topped out at .59
[12:23] {Threei} a bit too fast to catch it there
[12:23] {Threei} or someone managed?
[12:23] {Chaeron} was waiting in the 60s
[12:23] {Chaeron} beuty call tho
[12:24] {Threei} RIMM nowhere even closer to resistancer
[12:24] {Chaeron} beauty too
[12:24] {Threei} market edges toward that dreadful support to break again
[12:24] {Threei} see how pace picks up as we move toward it?
[12:25] {Threei} nervous players start liquidating
[12:25] {Threei} this starts feeling like self-fulfiling fear
[12:26] {peterg} wonder how this will end today
[12:26] {Threei} not pretty, my bet
[12:26] {peterg} feels like it
[12:27] {Nemo} what are the support levels?
[12:27] {Threei} for today, NQ 1220 to break to launch next wave of panic
[12:27] {Threei} and on daily, 1200
[12:28] {Nemo} is that CAD?
[12:28] {Threei} loss of that is likely to be a terrifying event
[12:28] {Threei} CAD?
[12:28] {Threei} no
[12:28] {Threei} NASDAQ e-minis
[12:28] {Geo} waiting at 19
[12:28] {Threei} QID
[12:29] {Threei} for those who don't trade NQ
[12:29] {Nemo} Ive got Nasdq at 1600 support...oops
[12:29] {Geo} wo
[12:29] {Threei} by NASDAQ you mean COMP?
[12:30] {Nemo} I'm only in the US and we speak the same language. I have NASDAQ, DJ, and S&P as basics
[12:30] {Geo} one lot coever at 15
[12:30] {Threei} NASDAQ is measured by diff indicators
[12:31] {Geo} other breakeven
[12:31] {Geo} a bit skittish
[12:31] {Threei} COMP is whole NASDAQ
[12:31] {Threei} NDX is NASADAQ 100
[12:31] {Threei} and what I use is NASDAQ 1-- e-minis,
[12:31] {Threei} which is NQ
[12:32] {Geo} all out 4 + 1 points
[12:32] {Nemo} don't know minis here
[12:32] {Geo} minis usually lead IMO nemo
[12:32] {Threei} right, that's why we prefer them as leading indicator
[12:32] {Geo} COMPX NDX is an aggregate taken after the fact
06[12:33] * Geo agrees
[12:33] {Threei} in terms on COMP, corresponding level to short was 1600,
[12:34] {Threei} and dreadful support on daily is 1545 roughly
[12:34] {Threei} 1540 - 1545
[12:36] {Threei} some have amazing knuck for stating the obvious, going even furter than mine:
[12:36] {Threei} (BR) PRESIDENT LULA: THE IMPACT OF THE GLOBAL CRISIS MAY BE "PARTICULARLY SEVERE"
[12:36] {Threei} no really?
[12:36] {Geo} TY vad
[12:36] {Geo} crawled back and hit daily
[12:36] {Threei} cool beans
[12:37] {Geo} rimm
[12:38] {Threei} market is torn between "oanic" and "don't panic"
[12:41] {dino} this market feels bad, imo
[12:41] {Threei} OK, panic
[12:41] {dino} feels like 7900 coming again
[12:42] {Threei} NASDA is about to revisit yesterday's low
[12:44] {Threei} if NASDAQ reverses back down, look to short ADBE wih stop above .50
[12:45] {Threei} if NQ goes above 1223, panic is canceled for now
[12:46] {Threei} postponed to be exact
[12:46] {Geo} :)
[12:49] {Threei} Short Setup: ADBE .39 if stays below .50
[12:51] {Threei} come on market give up... time to panic
[12:51] {Threei} ugh
[12:51] {dptl} stopped
[12:52] {Threei} yup
[12:52] {Geo} out .52
[12:52] {Threei} most likely just a shakeout but not going to take any chances
[12:52] {Threei} anything is possible in this environment
[12:53] {Threei} keep stops tight and keep them religiously
[12:54] {_Dean} Still in ADBE from .39
[12:54] {dptl} valid again?
[12:54] {Threei} don't know dp
[12:54] {Threei} no rhyme or rythm here
[12:55] {Threei} I like easy money
[12:55] {Threei} this is not
[12:58] {Threei} Dean wins
[12:59] {_Dean} Not yet risked 15 cents.
[13:00] {_Dean} out in full
[13:00] {Threei} just in time
[13:00] {_Dean} thank you sir!
[13:01] {Threei} welcome
[13:01] {Threei} really feels no matter how much market is trying. panic selloff is inevitable
[13:01] {_Dean} 3 realitytrader trades 3 wins! can't beat that!
[13:02] {magoo} feels like 500 down today
[13:02] {Threei} and on one of them you did better than we did, lol
[13:02] {Threei} mags, then look for QID entry
[13:02] {_Dean} lol
[13:03] {Threei} here we go... inching toward yesterday's low
[13:03] {Threei} broke
[13:03] {Threei} 1200 is within spitting distance
[13:05] {dino} gj dean
[13:05] {Threei} next wave of selling should take us into 1200,
[13:05] {Threei} little bounce
[13:06] {Threei} then breakdown and wave of red all over
[13:06] {_Dean} thank you dino
[13:06] {Threei} FHFA'S JAMES LOCKHART: THE FOCUS SHOULD BE ON GETTING THE GSES OUT OF CONSERVATORSHIP
[13:06] {Threei} {FRE FNM}
[13:06] {Threei} hmmm
[13:06] {Threei} can they do that?
[13:08] {Threei} bounce just like yesterday
[13:08] {Threei} don't trust it yet
[13:09] {Threei} CALIFORNIA MORTGAGE DEFAULTS DOWN 22.5% SEQUENTIALLY, BUT UP 30% Y/Y - DATAQUICK
[13:13] {Nemo} adbe getting off the mat??
[13:13] {Threei} just follows the market
[13:15] {Threei} still can't tell if we are off the hook for today or it's just a small bounce before swan dive
[13:16] {Threei} if we consoidate a little between 1215 and 1220 and break 1220, relief rally is likely
[13:16] {Nemo} Nahhh...it's a big, barbed, hook...and we ain't talkin' trout hook
[13:16] {Threei} broke 1220
[13:16] {Threei} not much of consolidation though
[13:19] {Threei} watching LVS
[13:20] {Threei} pullback buy with .50 support
[13:20] {Threei} if market sighs with reliefe, likely to go over 9
[13:21] {dino} wow lvs 150 to 8
[13:21] {Threei} took .58-.61
[13:21] {Threei} uhhu
[13:22] {Threei} there is a lot of bathwater around but I am sure there are some soapy slippery babies too
[13:22] {dino} pretty amazing, dropping stocks 20-30%/day
[13:23] {Threei} most incredible thing is,
[13:23] {Threei} it continues over and over again
[13:24] {dino} thats the amazing part.
[13:25] {dino} ironically all of the buybacks by companies are losers too. they should have gotten rid of debt, not bought back stock 2x-5x higher
[13:25] {dino} what a waste
[13:25] {Nemo} buy backs were signals to get out
[13:25] {dino} yes
[13:25] {Nemo} signals for insiders...that is
[13:26] {Threei} low volume pullback
[13:26] {dino} bunch of idiots. retire debt not buy stock....or give it to shareholders
[13:26] {dino} wasted trillions
[13:26] {Threei} now, if we are holding above 1210 and go back over 1220, we are out of the woods for the day
[13:26] {Threei} lose 1210, all bets are off
[13:26] {dino} 8800 on dji recent resistance
[13:27] {Nemo} they did give it to shareholders who turned in their stock
[13:27] {dino} 8335 recent support
[13:27] {dino} lost me nemo
[13:27] {Threei} OPEC PRESIDENT KHELIL: THERE IS NO CONSENSUS ON HOW MUCH OPEC SHOULD CUT
[13:28] {Threei} and when they cut there won't be consensus who actually cuts and who continues pumping like there is no tomorrow
[13:28] {dino} but heres' ge that reat company that everybody praises jack welsh about. bought back couple billion at 35
[13:28] {dino} plus jack put them in the mess
[13:28] {Threei} IMF OFFICIALS DENY RUMORS OF A TOTAL AMOUNT OF $1.0T FACILITY
[13:28] {Nemo} If you were a financial insider, you knew the feces were about to hit the ventilator
[13:29] {Nemo} You offer a buyback at the top of the market, contact wealth managers at the largest firms, and your largest shareholders, and tell them to sell
[13:30] {dino} it sure looks that way
[13:30] {dino} and then of course, blame the shorts
[13:30] {Nemo} nope
[13:31] {Nemo} naked shorting is another story...it's fractional reserve selling
[13:31] {lisa_jay} Vad, long LVS stop still under .5
[13:31] {Threei} yup
[13:31] {dino} my point, the shorts were right
[13:31] {Threei} NQ lost 1210
[13:31] {Threei} not good
[13:32] {Threei} stopped LVS'
[13:32] {dino} another leg down coming
[13:33] {Threei} CNN: election result impact on market
[13:34] {Threei} ADBE breaks day low
[13:37] {Threei} 1200 scares the hell out of market
[13:37] {Threei} tries to move away from it
[13:37] {Threei} then comes back like rabbit ti a snake
[13:38] {dino} jumping 70 pt in minute
[13:38] {Threei} amazing
[13:38] {dino} that used to be a day
[13:40] {Threei} usually this kind of abnormal volatility signalled trend reversal
[13:41] {Threei} yet who will risk to say ultimate bottom is in
[13:41] {dino} bruce will
[13:42] {_Bruce} tough call dino - still thinking down though
[13:42] {dino} you don't want to know what i'm thinking
[13:43] {_Bruce} lol
[13:43] {Threei} coarse languagem vioelnce and nudity?
[13:43] {Threei} only in better typing
[13:43] {Threei} OK... feels like we are more likely to put relief rally on
[13:44] {dino} aapl green
[13:44] {Threei} ADBE long on this pullback
[13:44] {Threei} .15
[13:44] {Threei} half lot
[13:45] {Threei} stop under 24
[13:45] {dino} hope you're right 3i. my gut says -500 today
[13:45] {Threei} not a scalp for me
[13:45] {Threei} looking to sell closer to .50
[13:46] {Threei} stop is tight enough dino...
[13:46] {Threei} this kind of trades with this riskm we are taking every day many times
[13:48] {Threei} market is defending this support with all the fury of mama bear
[13:48] {Threei} hunters are circling though, lol
[13:48] {Geo} heheh excellent commentary vad
[13:49] {Geo} out
[13:49] {Threei} ADBE holding by the tread
[13:51] {Threei} market looks into abyss and backs away from it... then comes back with scared curiosity
[13:51] {Nemo} are you out?
[13:51] {_Case} Feels like sell programs are drawing descending triangles.
[13:51] {magoo} back
06[13:51] * _Bruce slaps magoo around a bit with a large trout
[13:51] {_Case} I've witnessed this on Bailout Friday
[13:51] {Threei} ok, out ADBRE
[13:51] {magoo} nice..i miss that bruce
[13:51] {_Bruce} aapl at lows
[13:52] {Threei} 1200 is tagged
[13:52] {_Case} Watched the texbook collapse... but stayed in... thinking it's a fade...
[13:52] {_Case} Only to regret on Crash Monday
[13:53] {Threei} shakeouts all arounbd'
[13:53] {Threei} no bounce, no breakdwon
[13:53] {magoo} vad 1200 correspondes to where on qqqq 29?
[13:55] {Threei} just under 29.50
[13:56] {Nemo} RIMM: steady uptrend since 12:30
[13:56] {_Bruce} -500 dino?
[13:56] {hawkfan4} geesh, JASO 4.75, ESLR 2.52, SOLF 5.54. Where have all the good times gone?
[13:56] {_Bruce} lets borrow vads money and short the hell out of market
[13:57] {Threei} his projection for DJI Bruce
[13:57] {Threei} look at CSIQ hawk
[13:57] {Threei} can you believe this price?
[13:58] {hawkfan4} sad, so sad. they were such good friends too
[13:59] {hawkfan4} DRYS 17.70 and looks like it's headed to single digits
[14:01] {dino} lod
[14:02] {dino} 8335
[14:02] {dino} breaking
[14:02] {Threei} here comes dreadful breakdown
[14:02] {dino} oh oh, 8200 then capit 7900
[14:03] {_Bruce} halloween havoc
[14:03] {Threei} totally
[14:03] {Threei} panic ensues
[14:05] {_Bruce} 25 is low for q's - not quite there yet
[14:05] {Threei} strong magnet
[14:05] {Threei} bounces are meek
[14:06] {_Bruce} meek - you talkin market or magster?
[14:07] {Threei} watch NQ for short around this level
[14:07] {Threei} and QID for long
[14:07] {Threei} very hard to assign exact numbers
[14:08] {Threei} if you get a feel, go for it, if not just sit it out
[14:09] {Threei} if dino is right and we headed for -500, QID goes for 86 or more
[14:10] {dino} lol
[14:11] {Threei} -200 so far
[14:11] {Threei} and ticking
[14:12] {Threei} here we go, next leg
[14:13] {Threei} who went for QID half out here
[14:13] {magoo} me
[14:13] {magoo} .12
[14:13] {Threei} 84.12?
[14:14] {magoo} yes
[14:14] {Threei} good job
[14:14] {Threei} sell half, put the rest for sale closer to 86
[14:14] {Threei} close your eye and pray
[14:14] {Geo} out NQ 86.50
[14:14] {Threei} from?
[14:14] {Geo} 8 points on one
[14:15] {Geo} 94.5
[14:15] {_Bruce} l aapl 93.16
[14:15] {Geo} stopped second
[14:15] {Geo} was trailing :(
[14:15] {magoo} out qid ty
[14:16] {dino} gj
[14:16] {Geo} 10 points total
[14:17] {dino} beauty
[14:17] {lisa_jay} Magoo, what was your entry and exit on QID? Thanks.
[14:17] {_Bruce} out half aapl +.42
[14:17] {Geo} nice bruce
[14:18] {Geo} thanks dino
[14:18] {Geo} looks like i had a tight stop
[14:18] {dino} ok, half way therendx, comp new 52 week lows
[14:18] {dino} there, ndx
[14:19] {Threei} Geo... you know you can't trail NQ as you do stocks
[14:19] {Geo} yeah :(
[14:19] {Geo} will try some more on sim
[14:19] {Threei} here come 86 QID
[14:20] {magoo} dino gonna get his 500
[14:20] {Threei} out .70
[14:20] {magoo} beauty vad
[14:20] {Threei} close enough
[14:21] {Threei} NASDAQ COMPOSITE TESTS SEP 10TH LOW
[14:21] {magoo} 86 prints
[14:21] {Threei} lol
[14:21] {Threei} we know
[14:21] {Threei} btw, mags
[14:21] {Threei} about your QID entry
[14:21] {Threei} that was breakout
[14:21] {Threei} which is not usually a the best way to play this beast
[14:22] {Threei} its volatility gives a lot of severe pullbacks
[14:22] {Threei} it's usually better pley on those
[14:22] {Threei} play too
[14:22] {magoo} ewhere u get in vad?
[14:23] {Threei} whenit pulled back to about 85.20 or so, I got it at 83.60
[14:23] {Threei} to 83.29, sorry
[14:23] {Threei} ok, everyone's blood pressure is normal?
[14:24] {Threei} historical events continue
[14:25] {Threei} truly, this is stuff to tell your grandkids about
[14:25] {Geo} so you telling em tonight vad?
[14:25] {Threei} who?
[14:26] {Geo} [11:25] {Threei} truly, this is stuff to tell your grandkids about
06[14:26] * Geo ducks
[14:26] {Threei} careful
[14:26] {Threei} trout is unholstered
[14:26] {magoo} trout?
06[14:26] * Geo slaps magoo around a bit with a large trout
[14:26] {Geo} this one
[14:27] {Threei} hmm.. preventive trout?
[14:27] {Geo} i thought he asked
[14:27] {Geo} hmmm nice pullback
[14:27] {_Bruce} exited balance of aapl +.38
[14:27] {Threei} wtg
[14:28] {Geo} we miss ya bruce !!
[14:28] {Threei} chart wise, this bounce is asking to be shorted
[14:28] {_Bruce} thanx vadster
[14:28] {_Bruce} lucky
[14:28] {Threei} but honestly speaking
[14:28] {Threei} I'll stay away for now
[14:29] {_Bruce} I trade like dino now - if the thing isn't going to move a buck whey even look at it?
[14:29] {Nemo} When is the crash scheduled for today?
[14:29] {Threei} dino is intervening into my teritory now Bruce...
[14:30] {Threei} trades a lot of 15-30 cents play
[14:30] {Geo} thats just wrong
[14:30] {Threei} si as a countermeasure I play more of $1 moves
[14:30] {_Bruce} lol
06[14:30] * _Bruce slaps dino around a bit with a large trout
[14:30] {Threei} it's already here Nemo... it's just a mini-crash
[14:31] {Threei} for now at least
[14:31] {Nemo} Nahhhh...we're still in the range for today
[14:31] {Threei} sensitivity has changed greatly
[14:31] {Threei} -250 is nothing these days
[14:31] {dino} lol bruce
[14:32] {Threei} we bat eye at -500
[14:32] {Threei} -700, OK, that's crash
[14:32] {dino} yes, but 552 range
[14:32] {dino} unfortunately, normal too
[14:33] {_Bruce} taking break here
[14:34] {Threei} day was pretty much around flat for me before this last drop... some stops, some winds, mostly balancing each other
[14:34] {Threei} then this QID play took in black sharply
[14:36] {Threei} 1200 break NQ is scary long signal
[14:36] {Threei} for strong hearts only
[14:37] {Threei} 29.50 QQQQ corresponding level
[14:37] {Threei} 83 short QID corresponding level
[14:38] {Geo} stop for NQ pls vad ?
[14:38] {Threei} under 95
[14:38] {Geo} yeah was afraid of that :(
[14:38] {Threei} target about 1215
[14:40] {Geo} 1:1 one lot out
[14:41] {Threei} what can you do Geo, this is price of volastility
[14:41] {Geo} i banked with heavy heart
[14:41] {Geo} TY
[14:41] {Threei} QID reached almost dollar profit, then bounced all the way back into trigger
[14:41] {Threei} it happens so fast on these moves, you just need to react on it rather than wait for a call
[14:42] {Geo} yeah
[14:42] {Threei} QQQQ hit .65
[14:42] {Geo} in 1200:50 out 1206
[14:42] {Threei} least effective of all of them leverage wise
[14:43] {Threei} bounce from here again
[14:44] {Threei} got 94 or so?
[14:44] {Threei} they tage levels and jump of them faster than I can type
[14:48] {Nemo} figures...quick 10 minutes away...sheesh
[14:49] {Geo} hmm Goldman leaying off 10%
[14:49] {Geo} about 3500
[14:52] {Threei} unclear here...
[14:53] {magoo} seems to easy to sell off into last hour again...but thats what been doing
[14:54] {Threei} feels more like down but not enough confidence for play
[14:56] {Threei} ok, working assumption is, one more little bounce and down again
[14:57] {Threei} QID around 84.50 is probably long
[14:57] {Geo} that was fast
[14:58] {Threei} got .56, looking to exit for about $1
[14:59] {Threei} sheesh
[15:00] {Geo} wow
[15:00] {Threei} stopped for -.15
[15:00] {Threei} too greedy
[15:00] {Nemo} Ti To
[15:00] {Threei} as if 70 cents was not enough, lol
[15:00] {lisa_jay} Vad, what kind of stop do you give for a volatile stock like QID? Thanks.
[15:01] {Threei} originally about 30 cents
[15:01] {Threei} but tightenting it as it nmoves
[15:03] {Threei} looks like line in sand is drawn for todsay
[15:03] {Threei} higher low
[15:04] {Threei} look for entry on pullback
[15:04] {Threei} NQ around 1195
[15:04] {magoo} too bad this mkt wouldn't go green 300
[15:05] {Threei} QQQQ around .37
[15:05] {magoo} mess up the shotrts
[15:05] {Threei} like clockwork
[15:05] {Threei} got NQ anyone?
[15:05] {Threei} or Qs?
[15:05] {Geo} no
[15:06] {Threei} come on... gave you exxact number this time
[15:06] {Threei} and it was hit perfectly
[15:06] {Threei} 11 points NQ
[15:06] {Threei} in one gasp
[15:06] {Geo} :(
[15:06] {Threei} 30 cents Qs
[15:06] {Threei} anyone??
06[15:07] * Threei removes himself to a very remote monastery
06[15:07] * Threei removes himself to a very remote monastery in Tibet without wi-fi
[15:07] {Geo} tivo?
06[15:07] * Threei removes himself to a very remote monastery in Tibet without wi-fi, Tivo but preferrably with strictly female personal
[15:08] {Chaeron} strick female personnel?
06[15:08] * Geo sending logs to the lady with the frying pan
06[15:08] * Threei cuts off Internet and burns down mailbox
[15:09] {Chaeron} drys
[15:09] {Geo} sniff NQ..... why did you leave without me?
[15:09] {Geo} 20 points
[15:09] {Threei} relief rally mode
[15:09] {Threei} pullbacks are for entry
[15:10] {Threei} pullbacks are likely to be severe
[15:10] {Threei} don't jump in on slight correction, wait for sharp down
[15:10] {Threei} Qs over 60 cents jump
[15:10] {Threei} and no takers
[15:10] {Threei} you guys...
[15:11] {Chaeron} a bit nervous... hesitant
[15:11] {Chaeron} and then, bam... too late
[15:11] {Geo} same here
[15:11] {Chaeron} more of psychological part of your training... not mechanical... important
[15:15] {Threei} oullback is likely here
[15:16] {Threei} Qs to about .60-.70
[15:16] {Threei} NQ to about 1210-1212
[15:17] {magoo} needs to reverse quick
[15:19] {Threei} one more leg down probably
[15:19] {Threei} very quick
[15:20] {Threei} entry time
[15:20] {Threei} in Q
[15:20] {Threei} .60
[15:20] {Threei} stop under .50
[15:21] {Threei} 1:2 in a hurry
[15:21] {Threei} out .78
[15:22] {Threei} anyone this time?
[15:22] {lisa_jay} .20 thanks Vad.
[15:22] {Threei} whew... no, thank you
[15:22] {Threei} a bit too soon out
[15:22] {Threei} but heck
[15:23] {lisa_jay} :-)
[15:23] {lisa_jay} I got .61 as entry, what would be the exit.
[15:23] {lisa_jay} Sorry - stop?
[15:23] {Threei} [15:20] {Threei} stop under .50
[15:23] {lisa_jay} Most are probably in the trade still.
[15:23] {lisa_jay} Thank you.
[15:24] {Threei} hmmm... thought of it of just a bounce scalp
[15:24] {Threei} underestimated market's eagerness to recover some
[15:25] {Threei} stuill pretty nervous out there
[15:25] {Threei} look how sharp pullbacks are
[15:25] {lisa_jay} yes.
[15:26] {dino} i'm using 8200-88 range for now.
[15:27] {dino} patience, your thoughts?
[15:28] {Threei} frankly, while I do appreciate these wide rane relatively fast days... today is too fast
[15:28] {Threei} hard to call things in time
[15:28] {Threei} have to almost type and lcik my entries at the same time
[15:29] {dino} yeah, i sat aside afternoon. too wierd
[15:29] {Geo} you need a typing monkey vad
[15:29] {Threei} I have a cat who walks on keyboard
[15:29] {Threei} will it do?
[15:29] {Geo} nope
[15:30] {_Dean} doing just fine until i had chicken for lunch
[15:30] {lisa_jay} Trust me...pets or kids only add to distractions.
[15:30] {Threei} let's try... come here george
[15:30] {Threei} cijfguy sjrha;aw9ugjd
[15:30] {Threei} makes sense?
[15:31] {Threei} OK, cat is out
[15:31] {Threei} this drop I don't like
[15:31] {Geo} today was tiring and wierd
[15:32] {Threei} violated upward channel
[15:32] {dino} could be the classic eod selloff
[15:32] {dino} go for lows or more
[15:32] {Threei} not buying this pullback for sure
[15:32] {Threei} this is not a pullback anymore
[15:32] {Threei} rather attenot to reverse the tren on 1 min
[15:33] {Threei} attempt
[15:33] {Threei} trend
[15:33] {Threei} lol
[15:33] {Threei} Geo... monkey would do better, I'll have to admit
[15:33] {Geo} :)
[15:34] {Threei} don't smile at me... you should be objecting, consoling, saying things like "no way, you are still better than monkey"
[15:34] {Geo} sheesh
[15:34] {Threei} lol
[15:34] {Geo} youre the best vad
[15:34] {Threei} great, now monkey feels deeply offended
[15:35] {Threei} OK, let's see if this bounce is short
[15:35] {Geo} man my head hurts from the psychedelic LII colors
[15:35] {Threei} Qs about .75
[15:35] {Threei} first weakness from here
[15:36] {Threei} in .74
[15:36] {Threei} stop .81
[15:37] {_Dean} in Q's .74 short
[15:37] {Threei} nervous jumping, not likeing it
[15:38] {Threei} prefer more smooth trades
[15:38] {Threei} out .65
[15:38] {Geo} half out
[15:39] {Threei} better now
[15:39] {Geo} 1/4 out
[15:39] {Threei} 1: alot
[15:40] {Threei} feel free to cover as you see fit
[15:41] {Geo} all out .51
[15:41] {Threei} too jumpy for my taste
[15:41] {Threei} I am a lazy tyoe, I hate struggling
[15:41] {Threei} profits must come easy
[15:42] {Threei} Dean?
[15:42] {Threei} you covered?
[15:44] {Threei} I find it hard to believe SLW price
[15:44] {_Case} Indeed.
[15:45] {Threei} you know what
[15:45] {Threei} it could be worth taking some overnight
[15:45] {Threei} stop under 3.30
[15:45] {_Case} It's almost at its IPO
[15:45] {_Dean} ou...
[15:45] {Threei} if today's bounce gets any continuastion tomorrow, it's very likely to get back to 4 at least
[15:46] {dino} what the?
[15:47] {Threei} lol
[15:47] {Threei} let me finish your sentence as Stewie would: What's the deuce??
[15:47] {hawkfan4} lol
[15:48] {Geo} wow dow +100
[15:48] {Geo} whats he range today?
[15:48] {dino} 8243-8795
[15:49] {Geo} nice
[15:49] {Threei} one of those near-extraordinary days
[15:49] {Threei} rally, sharp breakdown, new lows, rally again
[15:50] {Threei} all happening with lightning speed
[15:50] {Threei} I believe we handle it col-bloodedly enough (if that's a word)
[15:51] {Threei} hopefully tomorrow we get more of clear direction and a bit more manageable speed
[15:51] {Threei} and if not, our approach is the same:
[15:51] {_Dean} knocked over my bottle of gin...actually picked up +28 pts on QQQQ trade...4 for 4 today.
[15:51] {Threei} tight stops, reading things as they come, being easy to change the opinion
[15:51] {_Dean} Thanks Vad!
[15:51] {dino} gj
[15:51] {Threei} great job Dean
[15:51] {Geo} nice dean
[15:52] {Chaeron} nice one dean... and gin? must be Dean Martin
[15:52] {_Dean} Thanks guys!
[15:52] {Threei} if any of guests get any questions for tomorrow, prepare them and don't hesitate to ask
[15:52] {_Case} Thanks Vad
[15:52] {_Dean} have to stop drinking out of the bottle.
[15:52] {Threei} case :)
[15:53] {Threei} not taking any more trades today
[15:53] {Threei} took SLW overnight
[15:53] {Threei} unless it goes to 4 today, lol
[15:53] {_Case} Wouldn't surprise me :-)
[15:53] {Threei} lol, no kidding
[15:53] {Threei} any questions so far guys?
[15:53] {Threei} gals?
[15:54] {dino} dean's worse than magoo, at least he waits until 3:30 to crack a beer
[15:54] {Threei} lol
[15:55] {_Dean} enjoying every minute of it too....
[15:55] {dino} :)
[15:56] {_Case} FXE smells of USD reversal, if it occurs overnight I guess we get Vad's SLW target price at premarket
[15:56] {_Dean} dino.)
[15:56] {Threei} I won't mind
[15:56] {Threei} nothing's sweeter than to start day with +.50
[15:56] {_Case} :-)
[15:57] {Threei} and with about 15 cents risk... shrug
[15:57] {Threei} Ok guys, thank you all
[15:57] {Threei} have a great evening
[15:57] {_Case} Thanks are ours Vad
[15:57] {Threei} see you all tomorrow
[15:57] {_Case} For sure
[15:57] {_Case} and also Monday :-)
[15:58] {Threei} if there is Monday
[15:58] {Threei} interventionists may just cancel it
[15:58] {Threei} or whole October
[15:58] {_Case} Good point.
[15:58] {Threei} or whole fall
[15:59] {magoo} TY vad
[15:59] {_Case} Thanks everybody. It was fun. See you
[16:00] {peterg} bBye aalll
[16:00] {dptl} have a good evening all
[16:01] {_Dean} Thank you everyone!
[16:08] {dino} take care
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