Nov 02 2009

Strong start for the week with 6 wins out of 7 calls. HIG was out best performer on both long and short sides, RIMM and NTRI added some to it.

Session Time: Mon Nov 02 00:00:00 2009

[08:32] {strider} .

[08:33] {nemo} ?

[08:33] {strider} morning, nemo. just check for connection.

[08:41] {nemo} yes...mine was the response :)

[08:42] {strider} {}

[08:43] {Threei} DNDN Dendreon Corp Completes Submission of Biologics License Application for PROVENGE

[08:43] {Threei} - Is seeking licensure for PROVENGE for men with metastatic castrate-resistant prostate cancer (CRPC). If approved by the FDA, PROVENGE would represent the first product in the new therapeutic class known as active cellular immunotherapies.

[08:49] {strider} HGSI

[08:50] {Threei} Human Genome Sciences Inc Discloses positive results in second of two Phase III trials of BENLYSTA lupus

[08:50] {Threei} - HGSI and GSK announced that BENLYSTA (belimumab) met the primary endpoint in BLISS-76, the second of two pivotal Phase 3 trials in seropositive patients with systemic lupus erythematosus (SLE).

[08:51] {Threei} - The BLISS-76 study is ongoing and will continue for 24 more weeks.

[08:51] {nemo} Why couldn't you tell us on Friday this was going to happen?

[08:51] {nemo} Don't tell me...the cat ate tomorrows WSJ...

[09:03] {nemo} wow...rimm down big this morning

[09:05] {Threei} and the reason is beyond sarcasm:

[09:05] {Threei} RIMM CitiGroup Cuts RIMM to Sell from Hold, price target: $50

[09:05] {Threei} - Removed from Top Picks Live!/Global Tech Conviction List

[09:05] {Threei} get it?

[09:06] {nemo} yep...somebody is in accumulation mode

[09:06] {Threei} ummm

[09:06] {Threei} who went bankrupt this weekend?

[09:06] {nemo} CIT

[09:07] {ese} good morning

[09:07] {Threei} ese :)

[09:07] {nemo} dude

[09:08] {Threei} yes, BLTXX is up 3rd day in a row

[09:08] {ese} dude.....were back at it

[09:08] {fernp} Good morning everybody

[09:08] {Threei} fern :)

[09:08] {ese} yes indeed

[09:08] {ese} fern

[09:13] {strider} herding cats

[09:14] {lasertrev} good morning

[09:14] {Threei} trev :)

[09:16] {_Les__} bonjour messieurs et madames

[09:16] {Threei} good morning les

[09:16] {nemo} haroo

[09:17] {_Les__} What's good morning in Russian Vad? Or does Ukraine have seperate language?

[09:17] {Threei} dobroe utro

[09:17] {Threei} and yes, Ukrainian is close as most slavic languages but still eparate

[09:18] {Threei} I speak it although my native is Russian

[09:18] {dino} gm all

[09:18] {Threei} dino :)

[09:18] {ese} dino

[09:18] {dino} rimm in gap area 48-58

[09:19] {dino} nice of c to lower rimm after 25 pt drop

[09:19] {Threei} ugh dino... ruined my favorite joke of this morning

[09:20] {dino} thats value added research

[09:20] {Threei} using similarity of C and CIT names... referring to downgrade as last before-death act by CIT

[09:20] {_Les__} So Vad, change of trend good to go? I remember rather poor volume close of last week? Or bounce still in cards?

[09:21] {_Les__} sorry, too many question marks there...

[09:21] {Threei} so far we have lower lows

[09:21] {Threei} and bounces serve as whack-a-mole targets

[09:21] {Threei} bounce however strong it was, was limited to a single day

[09:21] {_Les__} so does RIMM downgrade serve as whack a mole?

[09:22] {Threei} RIMM downgrade doesn't matter at all in a big picrure

[09:22] {_Les__} ok

[09:22] {Threei} I refer to buying/selling

[09:22] {dino} imo watch s/p 1019

[09:22] {dino} that needs to hold

[09:22] {Threei} we had a week of strong selling on increasing volume,

[09:22] {Threei} low volume one day bounce,

[09:23] {dino} sept low 992, aug low 978

[09:23] {Threei} stronger volume selloff next day, eclipsing that bounce

[09:23] {Threei} so far, it's downtrend establishing itself

[09:24] {ese} rimm sure is interesting...if it hits 50.......thats free money territory

[09:25] {dino} i like it 48-50 too. exp. the 20th, it will get there

[09:27] {fernp} F is active this morning. Now consolidating on highs

[09:27] {Threei} F CFO: Expects structural costs to remain stable moving forward - conf call

[09:28] {Threei} Reports Q3 $0.26 (ex items) v -$0.12e, R $30.9B v $28.3Be; Guides Q4 production +16% q/q and See's FY11 as "breakeven or better"

[09:28] {ese} this correction ain't over yet.......we got about a month and some of this to go....in various ways

[09:28] {Threei} YRCW Halted: Defines terms of exchange offer (3.65, 0.00, 0.00%)

[09:28] {ese} imo

[09:31] {ese} L fitb .11

[09:31] {_Les__} dunno about stateside, but the offering of Ford cars here in Europe are pretty good, fairly classy new designs and selling reasonable well, from what I see

[09:32] {Threei} F Fitch revises outlook to positive; (7.82, +0.82, 11.71%)

[09:32] {ese} out fitb .18 +.07

[09:32] {_Les__} someone dumping their F stock?

[09:33] {Threei} HGSI

[09:33] {Threei} starts looking like runner of the day

[09:33] {ese} nice hgsi up 39%

[09:34] {Threei} momo, nop technicals to it

[09:34] {nemo} amzn weak

[09:34] {Threei} let's wait, maybe a good pullback gives us better read

[09:35] {_Les__} CYTX

[09:35] {Threei} Long Setup: HIG .05

[09:35] {Threei} if sdtays above .90

[09:36] {ese} in

[09:36] {ese} .06

[09:37] {Threei} salmon... market bounce should send it up screaming

[09:38] {fernp} ty Vad

[09:38] {Threei} not fooling around eh fern

[09:39] {fernp} mi fill was 25.00 good job Laser :)

[09:39] {fernp} mi = my in spanish. lol

[09:40] {Threei} some numbers at 10

[09:40] {Threei} Preview: Oct ISM Manufacturing due out at 10amET

[09:40] {Threei} **consensus expectation: 53.0e v 52.6 prior

[09:41] {Threei} Preview: Sept Pending Home Sales due out at 10amET

[09:41] {Threei} **consensus expectation (m/m): 0.0%e v 6.4% prior

[09:41] {Threei} Preview: Sept Construction Spending due out at 10amET

[09:41] {Threei} **consensus expectation (m/m): -0.2%e v 0.8% prior

[09:41] {ese} out hig .14 +.08 good enough

[09:41] {ese} tks vad

[09:41] {fernp} out again. ty ty Vad

[09:41] {Threei} lol

[09:41] {Threei} yw yw

[09:43] {Threei} HIG 1:1, half out or scalp

[09:43] {Threei} half for me

[09:43] {Threei} will try to squeeze all I can

[09:43] {strider} ME TOO

[09:43] {strider} me too

[09:43] {fernp} important numbers soon...

[09:43] {Threei} 17 min

[09:43] {Threei} a lot can happen till then

[09:44] {Threei} stop to under 25

[09:44] {Threei} and if scalpers qwin, what else is new

[09:46] {Threei} they win

[09:47] {ese} dino ....you checked out ntes

[09:47] {ese} started3pts dn

[09:48] {ese} next market bounce it should go some more

[09:50] {dino} on it

[09:50] {dino} watchiong wynn

[09:51] {ese} l ntes .10

[09:51] {Threei} my feel is, selling will resume after numbers,

[09:52] {Threei} but there is question: right away or with bounce first

[09:52] {Threei} so, let's probaby sit out next 8 minutes

[09:55] {_Les__} coffee break already?

[09:55] {Threei} F CEO: Guidance that Ford can return to profitibility in 2011 is "cautious optimism" - conf call Q

[09:55] {Threei} hmmm

[09:55] {Threei} imperative word is cautious or optimism?

[09:56] {ese} out ntes .45 +.35

[09:56] {Threei} qwtg

[09:56] {fernp} gj ese

[09:56] {ese} tell me why this is.....i made some ok trades this morning but am feeling like i'm having a lousy trading day....something doesn't feel ight vad

[09:57] {ese} tks

[09:57] {dino} nice ntes es

[09:57] {ese} tks dino

[09:57] {dino} did thast help your feelings, :)

[09:57] {Threei} it's a lack of something in the body ese... maybe coffee, maybe vodka... hard to tell without extensive blood analysis

[09:57] {ese} not really ....something feels off

[09:57] {nemo} full moon

[09:58] {ese} lol

[09:58] {dino} time change

[09:58] {nemo} time of month

[09:58] {Threei} oh yechnh

[09:58] {ese} lol

[09:58] {Threei} how I hate tholse time changes

[09:58] {Threei} I have too many clocks and watches

[09:58] {strider} Rimm +.10, .45-.55

[09:59] {_Les__} aapl just back in green

[09:59] {ese} good one ST

[09:59] {strider} t

[09:59] {strider} ty

[09:59] {Threei} OK, numbers upon us

[10:00] {Threei} *OCT ISM MANUFACTURING: 55.7 V 53.0E;

[10:00] {nemo} good numbers

[10:00] {Threei} SEPT PENDING HOME SALES (M/M): 6.1% V 0.0%E; (Y/Y): 19.8% V 12.1% PRIOR

[10:00] {Threei} SEPT CONSTRUCTION SPENDING (M/M): 0.8% V -0.2%E

[10:00] {Threei} beautiful

[10:00] {strider} jeez

[10:00] {Threei} let's see how market takes it

[10:01] {Threei} if we get selloff today, this is will be the biggest tell of all

[10:03] {fernp} WFC H&S

[10:03] {Threei} inverted you mean?

[10:04] {fernp} y. grabbed .11

[10:04] {dino} shaw sm l .00

[10:06] {nemo} wonder if this will be a thursday repeat...45 degrees up

[10:07] {Threei} that's my main question at this point

[10:08] {Threei} YRCW JP Morgan comments that YRCW debt/equity exchange more negative than expected, stock now worth $1.00-1.50 (timing uncertain

[10:08] {Threei} ouch

[10:08] {ese} wha da ya think....enough of a pullback in HGSI

[10:09] {Threei} doesn't look like long to me here ese

[10:09] {_Les__} YRCW bouncing?

[10:10] {ese} tks

[10:10] {Threei} momo movers should have much better pace

[10:10] {_Les__} AAPL inverted H&S?

[10:11] {Threei} 5 dollars from the bottom... leave it alone

[10:12] {_Les__} oh. no bottom dwellers here? That was/is my Twitter fan club...

[10:13] {Threei} ok, this scalp is worth a try if sets up, but scsalp only:

[10:13] {Threei} Long Setup: HIG .40 break

[10:13] {Threei} if stays above .30

[10:15] {fernp} WFC if breaks 28.00?

[10:15] {_Les__} AA?

[10:15] {Threei} I doubt it, WFC

[10:15] {strider} out HIG

[10:16] {_Les__} WFC

[10:16] {fernp} ok

[10:16] {Threei} HIG easy 1:1

[10:16] {Threei} AA, I would play it short with .64 trigger if stays under .70

[10:17] {Threei} and would skip long if acts other way around

03[10:17] * Looking up Threei user info...

[10:22] {Threei} HGSI UPDATE: Lazard Raised HGSI to Buy from Hold, price target: $32

[10:22] {_Les__} see what you're saying. Looking for further bounce like before, but AA doesn't want to go up

[10:23] {Threei} it may still if market continues...

[10:23] {ese} l hgsi .33

[10:23] {Threei} but look how market makes a new high yet AA is nowhere near its high

[10:23] {strider} wtg ese

[10:23] {_Les__} so when can make correlations between SPY and individual stocks can we?

[10:23] {strider} oh, you're in.

[10:24] {ese} yup...waited for pullback

[10:24] {ese} but this ain't working.....i'm in sm though 1k

[10:24] {Threei} sorry les, don't understand the question

[10:24] {_Les__} you made comparison between overall market and AA

[10:25] {_Les__} so I can look at WFC, or AA and compare to SPY for indication of individual strength or weakness

[10:25] {Threei} sure

[10:25] {Threei} this is exactly where the idea of our very forst trade today came from

[10:26] {Threei} "salmon" refrence

[10:27] {ese} out hgsi...stopped .10 -.23

[10:28] {Threei} Long Setup: NTRI half lot .20 break

[10:28] {Threei} stop under .10 for scalprs

[10:29] {Threei} under 22 for day traders

[10:31] {ese} l fitb .35

[10:33] {Threei} 1:1 for scalpers

[10:33] {strider} +.13

[10:33] {Threei} 1 cent shy of 1:1 for day traders

[10:34] {Threei} that's 3 for 3 so far... can I go home?

[10:34] {fernp} out NTRI and out WFC from 28.03 ty Vad. Is nonday today???

[10:34] {strider} ~~lowered expectations~~

[10:34] {Threei} lol

[10:34] {Threei} Market Internals update at 10:30amET

[10:34] {Threei} - NYSE volume 325M shares, about 15% above its three-month average; advancers lead decliners by 3.4:1.

[10:34] {Threei} - NASDAQ volume 560M shares, about even to its three-month average; advancers lead decliners by 1.5:1.

[10:34] {Threei} - VIX index -8% to just over just above 28.00

[10:34] {Threei} by the way, photos from Olympic torch relay are up

[10:35] {Threei} and I have some amazing new ones, incredible fall colors in the park and salmon run - huge fish right at your feet

[10:35] {Threei} but will take a few days for those to upload

[10:35] {_Les__} do we see you running next to torch bearer? :P

[10:35] {nemo} you were standing in the water?

[10:36] {Threei} kind of hard to run and take photos of myself doing that

[10:36] {Threei} and no, on the shore - but you can touch the fish

[10:36] {nemo} with that permanently dislocated shoulder?

[10:37] {Threei} what can I do... each of us has his limitations

[10:37] {nemo} that's what I mean...shouldn't be a problem for you

[10:37] {fernp} the dog doesn't understand what is happening

[10:37] {strider} NTAP?

[10:38] {Threei} neither does racoon

[10:38] {fernp} yeah

[10:38] {_Les__} If you have sea otters near your place then Canada in autumn sounds like good vacation.

[10:38] {Threei} NTAP... I hate this stock

[10:38] {Threei} it fools me 9 out of 10

[10:39] {Threei} yes Les... 5 min from my house

[10:39] {_Les__} NTAP has produced small ascending triangle

[10:39] {Threei} but don't confuse Victoria with Canada

[10:39] {Threei} Victoria is Cnadadian tropics

[10:40] {Threei} palm trees... roses in February... the RoC is under the deep snow

[10:41] {_Les__} just looked u up on google maps. Big bloody island u r on

[10:43] {_Les__} wow NTAP spiked and crapped itself. ugly

[10:43] {_Les__} I see channel cutting off victoria from mainland. But no name for the island. Is it an island?

[10:44] {Threei} Vancouver Island

[10:44] {Threei} sure is

[10:44] {Threei} no bridges

[10:44] {Threei} ferry or plane

[10:45] {fernp} wow!! NTRI lost support. Hit 1:1 and dropped

[10:45] {Threei} watching RIMM

[10:46] {Threei} would be happy to see some tight consolidation, then break of 56 for short

[10:46] {Threei} hmm

[10:46] {Threei} staying away for now

[10:47] {Threei} good idea

[10:47] {Threei} break wirthout consolidation turns into trap too often

[10:50] {Threei} Short Setup: HIG .40 break

[10:52] {Threei} a bit too sharp drop into support

[10:52] {nemo} yeah

[10:52] {nemo} I was gonna' ask

[10:52] {Threei} may be a little bounce to get tighter setup

[10:53] {Threei} agressive entry on .50 break was better way to go but happened faster than I could type

[10:53] {Threei} should bounce a littl now

[10:53] {ese} out fitb .30 -.05 1k

[10:53] {nemo} 1k?...you sick?

[10:54] {ese} ya ....i'm just not feelin g comfortable today

[10:54] {Threei} OK

[10:54] {Threei} here is out bounce

[10:54] {Threei} short into it on first weakness with stop above .55

[10:55] {Threei} out = our

[10:55] {ese} not as in sick sick nemo......somethings not rubbing me the right way

[10:55] {dino} same here

[10:56] {dino} that untrusting ax murderer feeling

[10:56] {nemo} I'm sick sick...food poisoning

[10:56] {ese} will stay small until that changes......i don't believe in this up makret....will make some money trade what you see thing but am causious

[10:56] {Threei} in

[10:56] {Threei} got .48

[10:56] {Threei} I can live wiht 7-8 cents stop

[10:57] {Threei} dino... ax murderer feeling... on receiving end or delivering?? :)

[10:57] {nemo} half out then?

[10:57] {Threei} not yet... want sharper dive toward .35 to cover half

[10:58] {Threei} formally it's 1:1 but I have this feeling this fish is a bit begiire

[10:58] {Threei} bigger

[10:58] {Threei} lol

[10:58] {Threei} how do you mistype it like this

[10:58] {nemo} your 3 days are up

[10:58] {Threei} yes, and larisa on a small vacation anyway

[10:58] {dino} lol, the movie, "so i married an ax murderer" mike myers

[10:59] {Threei} cover half

[10:59] {Threei} beaauuutiful

[10:59] {Threei} frikin RIMM

[10:59] {fernp} ty vad

[10:59] {Threei} forgot all abouit it watching HIG

[10:59] {Threei} welcome fern

[11:00] {dino} shaw stopped -.32

[11:00] {Threei} crap... RIMM gave exactly consolidastion I was looking for to play breakdown

[11:01] {nemo} hig hits 200 ma just under .25

[11:01] {nemo} and is at vwap now

[11:01] {ese} daaaa.....look away for one minute....wanted to be short DIA at .20

[11:02] {Threei} stop to above .50 for the balance

[11:02] {Threei} risk is whooping 3 cents

[11:03] {Threei} don't you love this kind of entry

[11:03] {Threei} no nervousness, little risk, bigger reward

[11:04] {Threei} cover 1/4 more HIG

[11:04] {nemo} aig vad

[11:05] {Threei} the only problem is: while you pat yourself on the back for beautiful entry you further dislocate your shoulder and you miss RIMM short

[11:06] {Threei} stop to above .40 for the remaining shares, no lose territory

[11:06] {Threei} I don't have a read on AIG

[11:06] {Threei} holding unusually well

[11:06] {Threei} don't want to short it

[11:06] {Threei} and everything in me resists going long

[11:07] {ese} anybody have opinons on KEY bank

[11:07] {ese} i like the daily

[11:08] {Threei} KEY is regionjal, right?

[11:08] {ese} it's had the crap beat out of it......buy when theres blood in the streets type of thing

[11:08] {ese} i think so

[11:08] {ese} had bad exposure in CA and FL

[11:10] {strider} HIG is weak

[11:10] {fernp} really great trade HIG, Vad. Don't u want to go home today?

06[11:10] * strider slaps fernp around a bit with a large trout

[11:11] {fernp} ahhh!

[11:11] {Threei} I so do

[11:11] {Threei} and even asked once already

[11:11] {Threei} what really bothers me is, it's only males who object...

[11:16] {_Les__} ese, my favourite regional, UMPQ, was sold by Motley Fool Stock Advisor newsletter recently. They fear commercial meltdown. Oregan bank, significant CA presence.

[11:17] {_Les__} and well run bank

[11:18] {ese} go rimm go

[11:18] {ese} tks les

[11:19] {_Les__} KEY gonna respect 20 dma resistance on 60 min. chart like earlier? could make a good short.

[11:23] {Threei} done with last potion of HIG

[11:23] {ese} now theres another one thats had the cr*&^ beat out of it NVDA back at 12 support......had looked into it's financials back in march and valued it at 18 to 19

[11:26] {nemo} eh..misse aig break of .80

[11:27] {dino} guess who's on tv

[11:27] {ese} bstop fitb .31

[11:28] {ese} l fitb .31

[11:29] {ese} sm

[11:33] {Threei} Long Setup: RIMM .60 break half lot

[11:33] {Threei} if stays above .45

[11:34] {nemo} missed

[11:34] {fernp} tried .62 but not filled

[11:35] {Threei} 1:1

[11:35] {ese} ride em cowboy....nice call vad......

[11:35] {nemo} should go at least to .90

[11:35] {Threei} 5 for 5

[11:35] {Threei} CAN I GO HOME???

[11:35] {nemo} you are home

[11:35] {ese} ahhhhhh very nice indeed...my appologies....i only made one of those

[11:36] {nemo} volumes solid today

[11:40] {nemo} aapl Vad

[11:40] {nemo} too late

[11:40] {Threei} you had .60 break in mind?

[11:41] {nemo} s .65

[11:41] {nemo} but the stop was too big

[11:41] {Threei} good one... why not post it instead of making me reverse-endineer your thoughts wasting a lot of time...

[11:41] {nemo} o.k.

[11:42] {Threei} engineer too

[11:42] {Threei} lord, I manage to misspell everyting today

[11:42] {nemo} Larisa's not here...you have no fear

[11:42] {Threei} right

[11:43] {Threei} more than that: while she is not here I can even claim I am not afraid of her

[11:43] {nemo} she might read the log

[11:43] {Threei} oopsd

[11:43] {_Les__} :) noble leader and teacher

[11:43] {Threei} didn't think this one through, did I

[11:43] {nemo} oy

[11:44] {_Les__} and fearless

[11:44] {nemo} no that's just plain _________!

[11:48] {Threei} FDIC's Bair: Credit markets are thawing; liquidity is improving; worst is behind us (related XLF )

[11:49] {Threei} (US) Fed's Greenlee: Sees continued pressure on bank earnings, seeing CMBS defaults heading higher

[11:49] {Threei} - observing a 'sharp' deterioration in loan performance in portfolios; commercial real estate will lead to higher pressure on banking earnings

[11:49] {Threei} (US) President Obama: Seeing some signs of stabilization and improvement, employment remains the key to recovery

[11:49] {Threei} - Job losses will continue, action is needed.

[11:49] {Threei} this I want to know

[11:49] {Threei} wjhat action does he intend to take?

[11:49] {Threei} son of stimulus?

[11:51] {dino} right 3i, he rather extends benefits than actually ease restrictions to job creation.

[11:51] {_Les__} well golden gate bridge snapping cable indicates plenty more infrastructure to upgrade/repair/build

[11:51] {dino} agree les. if you're going to dole out the $ at least get something for it

[11:52] {Threei} extention of home buyers credit is even worse idea than cash for clunkers, IMO

[11:52] {dino} i think his re-election slogan will be: vite for me and you will never have to work

[11:52] {dino} vote

[11:53] {_Les__} little bounce coming in HGSI vad?

[11:54] {Threei} can't tell

[11:54] {Threei} thing is at the same time volatile and locked into relatively narrow range

[11:56] {_Les__} ok so risk/reward doesn't tempt. Seems market's in neutral

[11:58] {ese} l fitb avg .30

[11:58] {strider} HIG

[11:59] {Threei} C&H

[11:59] {_Les__} ?

[11:59] {_Les__} oh sorry slow today. cup and handle

[12:00] {Threei} you are lucky you are new here Les...

[12:00] {Threei} should it be any of oldtimers, reaction would be immediate: "today??"

[12:01] {strider} lng HIG .52

[12:02] {nemo} funny strider, I look at HIG and see a short

[12:03] {strider} was trying an aggressive entry to c&h

[12:04] {nemo} I'm a pessimist

[12:05] {_Les__} there'll be plenty of time to berate me. Every year I kill more 1 million more brain cells with excessive amounts of French wine...

[12:05] {_Les__} then you'll have to make the trades for me when Im 50

[12:05] {nemo} yes, had an effect on your grammar

[12:05] {Threei} and I am the living proof of that

[12:06] {nemo} of what? evolution?

[12:06] {strider} stop .44

[12:06] {Threei} just as nemo is living proof that you can forget what you were talking about less than 30 seconds ago

[12:07] {strider} you were right, nemo

[12:07] {nemo} about what strider?

[12:07] {strider} HIG

[12:07] {nemo} (to prove Vad's point)

[12:07] {Threei} lol

[12:07] {strider} or, we were both wrong.

[12:07] {strider} got rinsed

[12:08] {Threei} Market Internals update at 12:00pmET

[12:08] {Threei} - NYSE volume 560M shares, about 15% above its three-month average; advancers lead decliners by 3.1:1.

[12:08] {Threei} - NASDAQ volume 995M shares, about 2% below its three-month average; advancers lead decliners by 1.4:1.

[12:08] {Threei} - VIX index -6.75% to just over just above 28.50

[12:08] {nemo} I saw break of .50 so I'd a been 1:1, you'da been SOL

[12:08] {nemo} AAPL short for the Magoos in the crowd

[12:09] {_Les__} C&H, H&S - not used to patterns being spat out on minute chart. Will acquire the vocab as they pop up here.

[12:09] {fernp} FAS dropping and FITB holding very well

[12:10] {Threei} what difference the time frame makes Les :)

[12:10] {Threei} chart is charty

[12:10] {Threei} many of patterns work better on intraday chart than on multi-year

[12:11] {Threei} reaction and emotions are more immediate

[12:11] {_Les__} ok. gonna sign up tomorrow, money is one month behind at least. Plenty of time to fit into faster pace of this trading room

[12:12] {Threei} we are slow like snail in mollasses today

[12:12] {nemo} snail w/a peg leg

[12:12] {Threei} and snail is one-legged and drunk

[12:16] {nemo} Trap door open?

[12:16] {Threei} vert well could be

[12:16] {Threei} let's see if we get worthy bounce to short into

[12:16] {nemo} crissakes Vad your typing!

[12:16] {Threei} HIG quick drop over 20 cents

[12:17] {Threei} well, I considered using speech-to-text software but it has troubles with russian swearing

[12:17] {nemo} why it can't spell pi...nevermind

[12:18] {_Les__} you're all nuts

[12:18] {Threei} except Raven

[12:18] {Threei} but he gave up on us

[12:18] {nemo} yeah...only adult supervision in the room

[12:19] {nemo} just sits in his roost...looking down

[12:19] {_Les__} so what does quick dip signify to you Vad?

[12:19] {_Les__} shorting opportunity?

[12:19] {Raven} {}

[12:19] {Threei} market is vulnerable, very likely to reverese and start losing ground,

[12:19] {fernp} BAC lod

[12:19] {nemo} A sign from above...

[12:20] {Raven} damn right

[12:20] {nemo} [12:19] {+Raven} {}

[12:20] {Threei} so I want to get short position on either bounce or consolidation/breakdown

[12:20] {Threei} HIG, bounce into .35-.40 range

[12:20] {Threei} that's where I'd start looking for setup

[12:21] {Threei} RIMM, bounce is not very likely

[12:21] {Threei} on this one I'd rather try for consolidation and break of .40

[12:21] {Threei} helped by market of course

[12:21] {Threei} stop above .50

[12:21] {Threei} and let's make it half lot

[12:22] {Threei} no chance for entry HIG

[12:22] {Threei} topped at .30, and really fast

[12:30] {Threei} hmmm

[12:30] {nemo} yeah

[12:30] {Threei} downdraft is being established and I don't have shorting candidates really

[12:30] {nemo} I was thinking aggresive short on rimm earlier aroud .50 but ended up too strong

[12:30] {_Les__} WFC vad. Theoretical stop above .65 a must or is yesterday's closing price permissible?

[12:31] {_Les__} WFC testing yesterday's close as resistance

[12:31] {_Les__} for a short

[12:31] {Threei} resistance?

[12:31] {fernp} AET on higs

[12:31] {nemo} what fern?

[12:31] {fernp} high

[12:31] {fernp} AET

[12:32] {nemo} oh, sorry didn't know whether you were referring to hig

[12:32] {Threei} I don't understand LES

[12:32] {Threei} WFC is nowhere near anyresistance

[12:33] {_Les__} freestockcharts puts bid dirty yellow line indicating yesterday's closing

[12:33] {_Les__} wfc just fell below that line

[12:33] {nemo} yep

[12:33] {Threei} then it's support

[12:33] {_Les__} big, not bid

[12:33] {Threei} not resistance

[12:33] {_Les__} but it fell thru

[12:34] {nemo} so becomes resistance

[12:34] {Threei} which means it broke support

[12:34] {_Les__} so it becomes resistance

[12:34] {_Les__} ok

[12:34] {Threei} ok, pause

[12:34] {nemo} Gotta' send him a Threeish dictionary

[12:34] {Threei} don't confuse me and don't confuse yourself

[12:34] {_Les__} so it's a vocab thing again

[12:34] {Threei} you asked about it at the moment when it was above .50

[12:34] {Threei} it approached it from above,

[12:35] {Threei} it was the low of the day,

[12:35] {Threei} it was yesterday's close

[12:35] {Threei} it's SUPPORT

[12:35] {Threei} yes, no?

[12:35] {_Les__} until it isn't

[12:35] {Threei} two different issues

[12:35] {Threei} when we are talking about defining setup

[12:36] {Threei} break of support and break of resistance are two very different things

[12:36] {Threei} and means long or short

[12:36] {Threei} "until it isn't" refers to whether it's broken or not

[12:36] {Threei} meaning we have a setup or we don't

[12:36] {_Les__} so falling through today it broke support and was what?

[12:36] {_Les__} retesting support??

[12:37] {Threei} mix up support with resistance and you are confused about the direction

[12:37] {Threei} breaking of support is short setup generally

[12:37] {Threei} breaking of resistance is long setup henerally

[12:38] {_Les__} ok ok next time I'll say WFC broke support. I assume that yesterday's closing price represents first and foremost support for all stocks. Correct?

[12:38] {Threei} no

[12:38] {Threei} it depends on from where price approached that yesterday's closing

[12:39] {Threei} how about this:

[12:39] {_Les__} *banging head on table.*

[12:39] {Threei} stock closed yesterday at 20

[12:39] {Threei} opened today at 19.50,

[12:39] {Threei} approached 20

[12:39] {nemo} There was some support for wfc at yesterday's close, but that doesn't necessarily happen in every instance

[12:39] {Threei} will 20 be support or resistance?

[12:39] {Threei} come on, it's not that difficult

[12:39] {_Les__} today it's resistance

[12:40] {Threei} suport provides floor, resistanc eprovides ceiling

[12:40] {Threei} simple as that

[12:40] {Threei} reesiatnce of course

[12:40] {_Les__} ok see incorrect use of vocab there. my bad.

[12:40] {Threei} for WFC, .50 was the low of the day approached from above

[12:40] {Threei} equals support

[12:41] {_Les__} so it broke support and what?

[12:41] {ese} ok am back.....and i see i've been stopped out of fitb .25 -.05

[12:41] {_Les__} was retesting

[12:41] {Threei} [12:37] {Threei} breaking of support is short setup generally

[12:41] {ese} that pretty much does it for me today....still a couple of hundred up...think we'll keep it that way

[12:42] {_Les__} yeh understood. So WFC was attempting to recover support. Is that correct vocab for what stock was trying to do?

[12:42] {nemo} rimm at another short

[12:42] {Threei} I don't understand what "recover support" means

[12:42] {_Les__} it obviously failed and then became a clearly defined short. I'll leave it at that...

[12:43] {nemo} 1:1

[12:45] {Threei} you did RIMM nemo?

[12:45] {nemo} yep

[12:45] {Threei} wtg

[12:45] {fernp} gj nemo

[12:45] {nemo} didn't think

[12:45] {fernp} today's lunchtime is more active than usual, no?

[12:46] {Threei} yes fern

[12:46] {Threei} interesting

[12:46] {fernp} good numbers and we are dropping...

[12:47] {nemo} watch rimm for a reload

[12:47] {Threei} if we close in red today, we are probably going for full blown panic

[12:47] {_Les__} http://up.widget.mibbit.com/up/6FXzOwoE.gif

[12:47] {nemo} yeah, but if we're not short overnight, we won't be able to get entry

[12:47] {Threei} [10:00] {Alert} Threei beautiful

[12:47] {Threei} [10:00] {Alert} Threei let's see how market takes it

[12:47] {Threei} [10:01] {Alert} Threei if we get selloff today, this is will be the biggest tell of all

[12:48] {nemo} bohica!

[12:48] {_Les__} night all. my head hurts :)

[12:48] {nemo} night Les

[12:49] {Threei} take care les... it's easier than you think

[12:49] {dino} cya les

[12:50] {fernp} bye les

[12:52] {nemo} my quotes messed up

[12:52] {nemo} that pissed me off

[12:52] {Threei} fine here

[12:53] {nemo} changed servers a couple of times...watchig fcx to break, chart moves L2 doesn't

[12:53] {fernp} financials are falling hard JPM, BAC, WFC, GS

[12:53] {nemo} frickin' .50 so far

[12:53] {nemo} .60

[12:53] {nemo} I'm jumping

[12:54] {nemo} whoa...negative territory

[12:54] {Threei} DJI is barely green still

[12:54] {fernp} any news Vad?

[12:54] {Threei} the rest is red

[12:54] {nemo} spy and qs not

[12:54] {Threei} no news

[12:55] {Threei} market is grown up and does it all on its own

[12:55] {nemo} party's over

[12:55] {Threei} parents are so proud

[12:56] {Threei} QID

[12:56] {strider} DER

[12:56] {strider} DRYS 5.50 ese

[12:56] {Threei} long with stop under .10

[12:57] {ese} yup

[12:57] {Threei} .22 long trigger

[12:58] {fernp} in

[12:59] {Threei} offering half above .30

[12:59] {fernp} ty

[12:59] {Threei} half out

[12:59] {Threei} scalpers are scalpers

[13:00] {Threei} offering 1/4 at .44

[13:00] {Threei} stop is .19 btw

[13:01] {magoo} hey

[13:01] {Threei} mags!

[13:01] {nemo} get one mags?

[13:01] {Threei} you are just in time

[13:02] {Threei} I am 6 for 6, and just got permission from nemo to go home

[13:02] {Threei} so take over

[13:02] {magoo} im outta touch, been away since thurs

[13:03] {Threei} we know, we used this time to bash you freely

[13:03] {Threei} how was the race?

[13:03] {magoo} so that was the ringing in my ears

[13:04] {magoo} good, very competive, tri-state championships

[13:04] {Threei} no, that was our atempt to dial your cell and read from the room log

[13:04] {Threei} how did your son do?

[13:05] {Threei} out QID balance

[13:05] {Threei} scaslpers win

[13:06] {magoo} saturday vey well...sunday had some bad luck...all and all he had great year, 2nd in the tri state district for year, new york, new jersey pennsy

[13:06] {Threei} wow

[13:06] {Threei} that's impressive

[13:07] {nemo} cool mags

[13:07] {Threei} congratulations, nothing like your kid succeeding

[13:07] {magoo} now we wind down for awile, winter comingh

[13:07] {magoo} thank u

[13:07] {Threei} gives you warm fuzzy feeling "I can die peacefully" {G}

[13:07] {magoo} awhile

[13:17] {Threei} QID tries to form C&H

[13:17] {Threei} not sure about practical tradeablity of it, too wide stop

[13:18] {Threei} but if forms tighter consolidation under .45 at some point, will be playable

[13:19] {Threei} Reportedly World Bank Washington DC headquarters partially evacuated after a suspicious substance found

[13:19] {Threei} spittle by irritated customers?

[13:21] {nemo} wfc forming range

[13:22] {Threei} 27 - .15?

[13:22] {nemo} .05 .15

[13:22] {nemo} in

[13:25] {nemo} 1/2 out .20 moving stop up to .10

[13:25] {nemo} don't like market

[13:30] {nemo} out

[13:31] {Threei} wash

[13:31] {Threei} better than poke in the eye

[13:31] {nemo} yeah

[13:31] {nemo} unless you're doing the poking

[13:31] {ese} i'm outa here everyone....castch you tomorrow

[13:32] {ese} bizzarre day for me

[13:32] {Threei} take care ese

[13:33] {dino} cya

[13:33] {fernp} bye ese

[13:33] {nemo} dino

[13:33] {nemo} you in anything?

[13:35] {nemo} tck and fcx bear watching at support areas on 5 and 15 minute charts

[13:36] {dino} no

[13:36] {dino} watching wynn

[13:39] {nemo} even if the markets stay barely positive, not good for all this "good" news

[13:39] {Threei} no

[13:40] {dino} cedc holds well

[13:40] {Threei} barrage of numbers, three announcemrnts

[13:40] {Threei} all beating estimates handily

[13:40] {Threei} and selloff?

[13:40] {Threei} and all this happening after selloff on rising GDP?

[13:40] {Threei} yikes

[13:41] {nemo} gonna' be a crowd at the exits

[13:41] {Threei} all these nice numbers kind of muted into background the headlines about coming commerical RE disaster

[13:42] {Threei} but obviously those who understand, did hear them

[13:43] {nemo} possible cat short

[13:43] {strider} palm?

[13:43] {nemo} late sorry

[13:43] {Threei} PALM looks breakdownish,

[13:43] {Threei} just keep it to scalps if you get tempted,

[13:43] {nemo} maybe not...could be long

[13:43] {Threei} daily is getting really oversold

[13:45] {dino} cedc sm l .00

[13:47] {dino} seems to be all gloom and doom

[13:49] {Threei} and at time like this you go for CEDC, right?

[13:49] {Threei} considering product

[13:49] {nemo} what is it...booze?

[13:49] {dino} indeed

[13:50] {Threei} Polish vodka producer :)

[13:50] {nemo} that's one of those "flossing with barbed wire" stocks

[13:51] {nemo} ooohhh...Spiritus...that'll knock you on your keister

[13:51] {dino} had some cuervo black over weekend, not bad

[13:51] {dino} petrone and cabo better

[13:52] {nemo} aig flatlining support around .70

[13:52] {nemo} damn

[13:53] {dino} indexes are not reflecting the moves, lots of stocks down $10-$20 in last 6-8 days

[13:53] {Threei} QID idea is back

[13:54] {Threei} reminder, consolidation is needed

[13:54] {Threei} something like .30 or .35 establishing as a support

[13:54] {nemo} magoo must be in

[13:54] {Threei} couple moves between support and .45 break level

[13:54] {Threei} then breakout

[14:00] {Threei} looks ready

[14:01] {nemo} yeah, in at .41

[14:01] {strider} stop?

[14:01] {Threei} if going for a scalp, under .35

[14:01] {Threei} I'd prefer under .30

[14:02] {Threei} and let it develop

[14:02] {strider} thx

[14:02] {Threei} we may be looking at another bottomless drop kind of day

[14:02] {Threei} Market Internals update at 2:00pmET

[14:02] {Threei} - NYSE volume 915M shares, about 33% above its three-month average; decliners lead advancers by 2.8:1.

[14:02] {Threei} - NASDAQ volume 1.59B shares, about 9% above its three-month average; decliners lead advancers by 2.1:1.

[14:02] {Threei} - VIX index -2.9% to just over just above 31.50

[14:03] {nemo} offering half @ .49

[14:04] {strider} that's very generous of you, nemo:)

06[14:04] * nemo slaps strider around a bit with a large lead pipe

[14:04] {Threei} that's some gentle slap

[14:04] {nemo} ohhh

[14:05] {nemo} 1/2 out

[14:05] {strider} he knows I don't have the full trout program....taking advantage of me.

[14:05] {Threei} in the zone today eh nemo

[14:06] {nemo} yeah, have to get food poisoning more often

[14:06] {Threei} rofl

[14:06] {dino} gj

[14:06] {Threei} strider, make him share the file

[14:06] {Threei} then fight on even field

[14:06] {nemo} ask K

[14:07] {Threei} here we go

[14:07] {strider} no, I'm asking you.

[14:10] {nemo} oh shoot. out 1/4

[14:10] {nemo} .50

[14:11] {nemo} stopp remainder

[14:12] {strider} Did you partial out yewt vad?

[14:12] {strider} yet

[14:12] {Threei} yes

[14:12] {dino} wynn sm l .20

[14:12] {Threei} my entry was more aggresive though

[14:13] {nemo} oh...u 2?

[14:13] {Threei} from .30

[14:13] {nemo} wow

[14:14] {fernp} missed the play. Is this pullback buyable, Vad?

[14:14] {Threei} see that little consolidation from 13:37 to 13:48?

[14:14] {fernp} .41?

[14:14] {Threei} not sure fern

[14:14] {nemo} yeah, I wasn't watching qid

[14:15] {Threei} watching, trying to get new rythm

[14:15] {fernp} ok

[14:15] {Threei} this market bounce was a bit bigger that I'd like

[14:15] {Threei} than

[14:15] {nemo} shakeout ?

[14:16] {Threei} could be... that's what I am trying to get a feel for

[14:16] {nemo} what would piss the most people off

[14:17] {Threei} kind of hard for me to get in the skin of most people... I find myself hating the "most" more and more {G}

[14:18] {nemo} what market result would?

[14:18] {Threei} I need to get in their skin to evaluate that

[14:18] {dino} up would imo, everybody is talking crash

[14:19] {nemo} then again...isn't everybody looking for a bounce f

[14:19] {nemo} flat might be the pisser

[14:19] {Threei} I don't know dino... I see a lot of :it's just a oullback, we are going to resume uptrend:" too

[14:20] {Threei} just like in the spring of 2000

[14:20] {Threei} remember how no one could believe the party was over?

[14:20] {nemo} HGSI giving a bit back

[14:21] {Threei} every new low was bought only to crash through again after very weak bounce

[14:21] {dino} yes

[14:21] {dino} time will tell, i was thinking for this week only

[14:21] {magoo} qserver please

[14:21] {nemo} 10

[14:21] {strider} took stop @ .33

[14:22] {strider} -.13

[14:22] {Threei} looks like selling is done for now

[14:24] {Threei} Confidence in Improved Relations With Muslim World Down To 16%

[14:24] {Threei} no really? weren't we supposed to turn the page and get all huggy, kissy and weepy?

[14:25] {Threei} 42% Support Health Care Reform After Release of Pelosi's Version

[14:25] {Threei} Thats down from 45% a week ago

[14:25] {Threei} Fifty-four percent (54%) now oppose the legislative effort, up three points since last week.

[14:25] {nemo} read today where electric golf carts qualified for the cash for clunkers program

[14:26] {Threei} yeah, that was a blast

[14:26] {nemo} and they're going to fix healthcare and the financial system...hehehehehe

[14:27] {Threei} 27% Say Hillary Would Be Better President Than Obama

[14:27] {dino} spend spend spend

[14:27] {Threei} 49% say she would be performing about the same.

[14:27] {Threei} Just 14% of U.S. voters say Hillary Clinton would be doing a worse job as president than Barack Obama if she had won last years Democratic presidential nomination.

[14:27] {Threei} buyers regret eh?

[14:29] {Threei} mags

[14:29] {Threei} your trade

[14:29] {Threei} AIG

[14:29] {Threei} .50 break

[14:32] {Threei} low of this pullback forms the stop level

[14:32] {Threei} but if goes under .25 will be invalidated

[14:33] {Threei} if taking aggresively, keep stop under .25

[14:37] {magoo} still like it?

[14:37] {Threei} don't know

[14:37] {Threei} kind of listless

[14:38] {Threei} aggressive entry would have worked

[14:38] {Threei} regular wouldn't

[14:38] {fernp} strangely slow AIG today

[14:39] {magoo} prob with AIG..slow then POW one way or other

[14:41] {nemo} maybe switch-hitter on RIMM break .90 short, break 55.00 long

[14:46] {dino} out wynn .90, +.70

[14:48] {Threei} Ford Motor Co UAW confirms rejection of concessions; over 70% voted against as had been speculated by the NYT Saturday

[14:48] {Threei} - reminder: over the weekend it was reported that UAW sources were saying the deal would be voted down. The concessions, which Ford sought to maintain competitive parity with GM and Chrysler, included a wage freeze for new hires through 2015 and a six-year moratorium on strikes over wages or benefits.

[14:48] {dino} out cedc .38, +.38

[14:49] {Threei} I have too few words of choice in English... honestly, Russian is so much better to express what I think of UAW

[14:50] {dino} they have learned nothing. auto industry has collapsed and they want more

[14:50] {dino} let them eat cake

[14:50] {Threei} actually, I think they learned ghe lesson very well

[14:51] {Threei} "we got two of them for ouraselves, now we need to get rid of the only remaining competitor,

[14:51] {nemo} yeah, they have the gubmint on their side...They can bankrupt Ford because they're too big to fail

[14:51] {Threei} eighter by taking it over asd well

[14:51] {Threei} or by chasing it out of the country"

[14:51] {nemo} yep

[14:51] {nemo} then they become government employees

[14:52] {Threei} either that, or they run all of them into the ground again,

[14:52] {dino} i supoose thats what they want

[14:52] {Threei} but it's going to be some years down the road,

[14:52] {Threei} meanwhile they will squeeze more out of the government,

[14:52] {Threei} inclduing taxes on foreign-made cars

[14:53] {Threei} which will supposedly be done to support domestic manifacturer

[14:53] {Threei} we all know it's sheer idiocy

[14:53] {Threei} but since when it stopped anyone

[14:53] {nemo} yeah, promotes incompetency

[14:54] {Threei} let me qwuote again:

[14:54] {Threei} over the weekend it was reported that UAW sources were saying the deal would be voted down. The concessions, which Ford sought to maintain competitive parity with GM and Chrysler, included a wage freeze for new hires through 2015 and a six-year moratorium on strikes over wages or benefits.

[14:54] {Threei} so those concessions were given to Crysler and GM, but not to F

[14:54] {Threei} tells us something?

[14:55] {Threei} suki lagernye

[14:57] {Threei} no news to this drop

[14:57] {nemo} market closes near flat today

[15:00] {Threei} making bets?

[15:00] {nemo} my opinion...and we know what those are like

[15:01] {Threei} now this is Canada-like:

[15:01] {Threei} federal Liberals Call for Emergency Debate on H1N1

[15:02] {Threei} get it? not emrgency action, emergency debate

[15:02] {nemo} yep

[15:02] {dino} i guess their schedule is open

[15:02] {Threei} I love my country... its laid-back ways...

[15:03] {Threei} and I love liberals of all kinds

[15:03] {strider} Vad has gone 'mental'

[15:03] {Threei} first stamenet was honest... second saoked in sarcasm

[15:03] {Threei} soaked too

[15:07] {dino} whew!

[15:09] {magoo} we in any?

[15:09] {Threei} no, but looking

[15:10] {nemo} cat looking weak

[15:10] {Threei} trying to get a feel for the finish

[15:10] {Threei} I may be biased... but my feel is closing in red'

[15:10] {nemo} cof an cat look the same

[15:13] {nemo} Q.s going below .95 would probably take RIMM with them

[15:13] {Threei} two ways to play this:

[15:14] {Threei} one is QID long near 24 if drops sharlpy to that level, for a vounce scalp

[15:14] {Threei} second is 24.20 break if stays above .10

[15:14] {Threei} do either in a way that won't spoil your day

[15:14] {Threei} no need to give back nice profits

[15:15] {dino} strange day

[15:15] {nemo} silly me looked away from RIMM

[15:17] {nemo} quite a battle

[15:18] {Threei} (US) Fed's Tarullo: Extensive review of pay at large banks to begin shortly, banks will be asked present their current pay plans to the Fed

[15:18] {Threei} - Plans may invite enforcement action; either through non submission of plans or inadequate implementation

[15:18] {Threei} - Note that earlier today the Fed met with banking execs to discuss pay packages. Discussion included "the process for the reviews of incentive compensation arrangements at the large, complex banking organizations."

[15:27] {Threei} BIOS... nice daily

[15:27] {Threei} quiet climb into 52 week highs

[15:28] {magoo} can u imaginbe..amzn not avail short vad

[15:28] {Threei} wow really?

[15:28] {magoo} yup

[15:28] {Threei} sounds like recipe for disaster for shorts

[15:28] {magoo} whats that indicate?

[15:28] {magoo} yea

[15:29] {Threei} too bad we don't know if that's limited to our broker or more widespread

[15:30] {Threei} 'cause you know... if this is something across the board, I see AMZN at 130 easy

[15:30] {nemo} says per SEC

[15:31] {Threei} just a generic wording for "we don't have inventory"

[15:31] {magoo} satandard message prob

[15:32] {strider} maybe it's already all loaned out

[15:32] {Threei} thta's the point

[15:32] {strider} duh

[15:32] {nemo} HUUUUGE short squeeze

06[15:32] * strider slaps strider around a bit with a large trout

[15:32] {Threei} if shorts piled on and there are no more shares to borrow

[15:33] {Threei} can you imagine what happens when they are forced to cover}

[15:33] {nemo} Pain and Suffering

[15:33] {nemo} no vaseline could help

[15:33] {Threei} followed by extreme pain and suffering

[15:34] {nemo} just read-big tax on the wealthy for health care...not indexed for inflation.

[15:34] {nemo} End up just like the AMT...bastids

[15:35] {dino} ash sm l .75

[15:38] {nemo} scotttrade has amzn available for shorting

[15:40] {Threei} doesn't tell you much

[15:40] {nemo} no...just letting you know

[15:40] {Threei} not even speakig of it's just one broker out of zillions,

[15:40] {Threei} without knowing how much they have you can' male any conclusion

[15:41] {Threei} someone looked and saw available - maybe he saw last 100 shares? :)

[15:41] {nemo} or last 10

[15:41] {cosmo} been there

[15:44] {Threei} BIOS... bugs me as a possible swing trade

[15:44] {dino} well, if you want it and can't borrow it, buy puts

[15:44] {Threei} yeah... it's just not what we are trying to figure out

[15:45] {Threei} rathner discuassing p;ossible short squeeze in case shorts leaned too hard on it

[15:45] {dino} ok misunderstood

[15:46] {Threei} you guys know you can trade options with laser, right?

[15:46] {nemo} yeah, but not sure I have the feed

[15:46] {Threei} not by default

[15:47] {Threei} gotta request it

[15:51] {Threei} my bet on red was wrong

[15:51] {Threei} unless we sell like crazy on last 9 min

[15:52] {Threei} but honestly,how pathetic this green is?

[15:53] {dino} lol

[15:54] {Threei} Market Internals update at 3:30pmET

[15:54] {Threei} - NYSE volume 1.21B shares, about 37% above its three-month average; decliners lead advancers by 1.7:1.

[15:54] {Threei} - NASDAQ volume 2.08B shares, about 11% above its three-month average; decliners lead advancers by 1.6:1.

[15:54] {Threei} - VIX index -1.2% to just over just above 30.30

[15:55] {Threei} decliner lead avdnacers despte green

[15:55] {Threei} this is nasty internals

[15:55] {nemo} yeah...tomorrow should be fun

[15:55] {Threei} bring your funny at everyone

[15:55] {Threei} hat

[15:56] {nemo} you'll wear a mask I presume

[15:56] {cosmo} that was fri

[15:56] {Threei} no, I am scary enough as it is

[15:56] {Threei} it's always Halloween in my household

[15:56] {cosmo} sat, i mean

[15:56] {nemo} Cosmo.....put the bottle away...

[15:57] {nemo} that is...or we'll have to tell Raven

[15:57] {cosmo} yeah...just finished

[15:58] {Threei} okay guys

[15:58] {Threei} nice start to the week

[15:58] {Threei} thank you all

[15:59] {Threei} have a good evening, see you tomorrow

[15:59] {strider} thank YOU

[15:59] {nemo} TY c u

[15:59] {dino} out ash .85 +.10

Oct 30 2009

Just as we thought, yesterday's strength turned out to be just a bounce. All trades worked well today, with beautiful QID setup which was explained in details starting at 11:00.

Session Time: Fri Oct 30 00:00:00 2009

[03:55] {KSystems} morning

[08:10] {Threei} US) Preview: Sept Personal Income and Personal Spending due at 8:30am

[08:11] {Threei} US) Preview: Sept PCE Core M/M, PCE Core Y/Y and PCE Deflator Y/Y due at 8:30am

[08:11] {Threei} US) Preview: Q3 Employment Cost Index expected at 8:30am

[08:11] {Threei} - consensus expectations at 0.4% v 0.4%

[08:30] {Threei} US) Q3 EMPLOYMENT COST INDEX: 0.4% V 0.4%E

[08:30] {Threei} US) SEPT PCE CORE M/M: 0.1% V 0.2%E; PCE CORE Y/Y: 1.3% V 1.3%E; PCE DEFLATOR Y/Y: -0.5% V -0.5%E

[08:37] {_Les__} Bonjour Messieurs et Madames ;)

[08:39] {Raven} interesting

[08:39] {Threei} good morning

[08:39] {Raven} T:)

[08:39] {Threei} R :)

[08:47] {_Les__} Didn't get to ask yesterday Vad. HGSI. U said trailing to .35, so effectively trailing for 1 point's movement. You saw trending good for potentially one point's movement. How?

[08:47] {Threei} huh?

[08:47] {Threei} original stop was under .30

[08:47] {_Les__} Just before system crash

[08:47] {Threei} trailing to under .35 is 5 cents

[08:47] {_Les__} Ah, that was it?

[08:48] {Threei} OK... I don't think we are on the same page

[08:48] {Threei} what does stop trailing have to do with target?

[08:49] {Threei} stop controls risk,

[08:49] {_Les__} I was watching it push through $20.35, from $19.30 (or something like that). Given lack of talk following this call, I thought U were trailing for a full point

[08:49] {Threei} at some point HGSI made a new low of the range solid enough to tighten risk

[08:50] {Threei} so that was a call for riske decrease

[08:50] {Threei} which has no correlation with target

[08:50] {Threei} so I am not sure what to make of the question framed this way

[08:51] {_Les__} sorry looking thru yesterday's blog for trade

[08:51] {Threei} I just don't want any misunderstanding about the meaning of the call and comments

[08:52] {Threei} any of those will lead to incorrect action

[08:57] {_Les__} My fault. I reviewed the log. I was cut out of further blog feed after your call "let's trail .35). When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35. I was impressed by your powers of prescience!

[08:58] {_Les__} HGSI topped out @ $20.33 @ 11:10. I realise now that I was no longer in the chat room

[08:58] {Threei} Les... I don't think you understand the call correctly

[08:58] {Threei} When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35.

[08:58] {Threei} this doesn't make sense to me

[08:59] {Threei} "worth a try at .41" - means entry

[08:59] {_Les__} that i understand

[08:59] {Threei} how does it correspond with " I thought you wanted to trail to $20.35"?? :)

[08:59] {_Les__} then you said "let's trail HGSI to .35"

[09:00] {Threei} trail refers to a stop

[09:00] {Threei} trailing stop

[09:00] {_Les__} so entry at .41. Immediately enter a trailing stop at .35. That was the call was it

[09:00] {Threei} no

[09:00] {Threei} entry at .41,

[09:00] {Threei} original stop under .30

[09:01] {Threei} [10:19] {Threei} HGSI worth a try

[09:01] {Threei} [10:19] {Threei} .41

[09:01] {Threei} [10:19] {Threei} stop under .30

[09:02] {_Les__} [10:25] {Threei} let's trail HGSI to .35

[09:02] {Threei} that's follow up 6 mionutes later

[09:02] {_Les__} so means what?

[09:02] {_Les__} .5 cent scalp?

[09:02] {Threei} [10:19] {Threei} HGSI worth a try

[09:02] {Threei} [10:19] {Threei} .41

[09:02] {Threei} [10:19] {Threei} stop under .30

[09:03] {Threei} [10:24] {Threei} market sharp drop

[09:03] {Threei} [10:25] {Threei} let's trail HGSI to .35

[09:03] {Threei} ??

[09:03] {Threei} Les... how does stop trailing translates into target??

[09:03] {lasertrev} morning

[09:03] {Threei} terv :)

[09:03] {Threei} it means trail THE STOP

[09:03] {Threei} not the exit

[09:04] {Threei} explain your thinking because I don't understand what it is that confuses you

[09:04] {Threei} stop is exit on LOSING side

[09:04] {Threei} if a trade moves against you

[09:05] {Threei} you enter long at .41,

[09:05] {Threei} your stop is under .30

[09:05] {Threei} Stock moves in your favor,

[09:05] {_Les__} you were tightening your stop?

[09:05] {Threei} at some point you are tightening the sdstop by trailing it

[09:06] {Threei} By no means this means changing the target

[09:06] {_Les__} ok. So "trail" means trailing stop. Thought you wanted to "trail" HGSI, i.e., follow it for a moment

[09:07] {_Les__} But as I said before. My blog feed was cut off at this point, so I didn't see this: [10:26] {fernp} out HGSI +.09, thanks strider, vad

[09:07] {Threei} YRCW

[09:07] {Threei} YRC Worldwide, Inc. Reports Q3 -$2.67(incl items) v -$1.70e, R$1.3B v $1.4Be; confirms in active noteholder discussions

[09:07] {Threei} - EPS included a net gain on property disposals of $.18 per share, severance charges of $.08 per share due to further headcount reductions and lease termination charges of $.11 per share related to further optimizing the networks.

[09:07] {Threei} - Been in active dialogue with noteholders, good progress made

[09:07] {_Les__} the system crashed and I didn't try to reenter. But thanks for clarifying your vocab.

[09:08] {Threei} you can always review the log after hours

[09:08] {_Les__} my bad

[09:08] {ese} well ...good morning...is anybody going to talk to me today huuuuuuuuh?

[09:09] {Threei} hmmm

[09:09] {Threei} ok... good morning ese!

[09:09] {_Les__} gm ese

[09:09] {strider} gm ese.

[09:09] {ese} morning all

[09:09] {ese} i was talking to myself yesterday for about an hour maybe longer on the board

[09:09] {ese} gave up

[09:10] {_Les__} well 3i doesn't understand me when i speak so i shall be quiet

[09:10] {strider} did you learn anything, ese?

[09:10] {Threei} lol

[09:11] {Threei} Les don't let it confuse you - I don't understand anyone

[09:11] {ese} don't know......were there problems with the chat room?

[09:11] {Threei} with mibbit ese

[09:11] {Threei} those connected through mirc were fine

[09:11] {ese} that s what i'm on.....

[09:11] {Threei} but mibbit went down for couple hours

[09:11] {ese} ahhhhhh haaaaa!

[09:12] {strider} pobrecito!

[09:12] {ese} so i'm still welcome? Thought there was a conspiracy going on

[09:12] {_Les__} I understand there's no such thing as a stupid question, only stupid people but...

[09:12] {ese} and that nemo was leading it

[09:13] {_Les__} If I theoretically touched that pretty house next to KSystems icon, could I crash the blog?

[09:14] {strider} there goes YRCW

[09:14] {Threei} Ford Motor Co Reportedly another plant (Michigan) rejects concessions by 75%

[09:14] {Threei} - Plant in Saline, Michigan voted the deal down 10/29

[09:14] {Threei} **Reminder: On 10/29 Ohio UAW transmission plant workers voted against concessions; vote 75% against

[09:14] {Threei} Wilbur Ross: commercial real estate on verge of huge crash- radio interview (related XHB )

[09:14] {Threei} oh great

[09:15] {Threei} BLTXX Baltic Dry Bulk 1% (2nd straight gain)

[09:15] {_Les__} yet F still at 7?

[09:15] {nemo} what was I leading...dude?

[09:15] {Threei} BLTXX Baltic Dry Bulk rises aprox 3% (2nd straight gain)

[09:16] {ese} the conspiracy not to talk to me on the board yestereday

[09:16] {Threei} give it up nemo, ese figured you out

[09:16] {ese} i was alone for about an hour and a bit....so i gave up

[09:16] {nemo} Is this one of your "I'm not paranoid, and anyone who thinks I am is out to get me" moments

[09:16] {ese} made a successful trade and called it quits

[09:17] {strider} There's a lesson here. Use mIRC?

[09:17] {ese} ahhhhhhh welllllllllll......i was thinking that i heard that

[09:18] {nemo} anything on watch Vad?

[09:21] {Threei} HIG...

[09:21] {Threei} JNPR

[09:22] {ese} baltic dry index should be on watch.....only a matter of time for those companies

[09:22] {ese} alex, egle, drys

[09:22] {ese} exm

[09:22] {ese} free

[09:22] {ese} gnk

[09:22] {ese} hrz,kex nm prgn

[09:22] {ese} ssw tbsi

[09:23] {dino} gm all

[09:23] {Threei} dino :)

[09:23] {ese} dino

[09:24] {Threei} fairly quiet market so far

[09:24] {Threei} not much to hang our hat on

[09:24] {Threei} let's not be in a rush

[09:24] {nemo} yeah...that's what it feels like

[09:24] {cosmo} yea...give it a couple of minutes...

[09:25] {Threei} lol

[09:25] {fernp} Good morning everybody

[09:25] {cosmo} :)

[09:25] {nemo} at least until 9:33

[09:25] {Threei} fern :)

[09:25] {dino} nvtl still beat up

[09:25] {ese} fern

[09:25] {strider} morning everyone

[09:25] {Threei} strider :)

[09:25] {strider} eye of three:)

[09:25] {ese} ST!

[09:25] {dino} aixg

[09:27] {strider} wierd one, aixg

[09:27] {Threei} did I just hear this for real

[09:27] {strider} Aixtron upgraded by JP Morgan

[09:28] {ese} hear what

[09:28] {Threei} new health care bill requires insurance companies to keep KIDS insured under parents coverage until they are 27!

[09:28] {Threei} kids??? 27???

[09:28] {ese} huh.....

[09:28] {nemo} oops...gotta' get my pacifier

[09:29] {Threei} something about this world I completely am unable to underatsnad

[09:29] {nemo} it's this country

[09:29] {dino} its a plan, if the next generation never has to grow up, the politicians win

[09:29] {Threei} grab one for me too nemo, and make sure it's properly soaked in scotch please

[09:29] {ese} same up here

[09:30] {Threei} ok.... gong

[09:31] {Threei} Preview: Oct Chicago Puchasing Managers Index due out at 9:45amET

[09:31] {Threei} **consensus expectation: 49.0e v 46.1 prior

[09:31] {Threei} - estimates range between 47 and 52.5

[09:31] {Threei} PLCM lost its mind

[09:31] {ese} TSRA dino

[09:31] {dino} played last night

[09:31] {ese} short

[09:32] {dino} y

[09:32] {ese} nice.....MSTR

[09:32] {ese} up 11pts

[09:32] {dino} strider called me a vampire

[09:32] {dino} :)

[09:32] {Threei} Long Setup: HIG .20 break if stays above .10

[09:33] {strider} I merely asked. Politely

[09:33] {dino} lol

[09:33] {ese} in

[09:35] {ese} out .29

[09:35] {ese} in .21

[09:35] {fernp} have to say "ty Vad". in .21 out .29

[09:36] {strider} oops. slippage

[09:36] {fernp} JNPR holding

[09:39] {Threei} Long Setup: CAT 57 break

[09:39] {Threei} grrr

[09:39] {Threei} too late?

[09:39] {fernp} missed

[09:39] {Threei} no chasing

[09:39] {nemo} yeah

[09:40] {strider} in

[09:40] {Threei} what price?

[09:40] {strider} 57

[09:40] {nemo} bastid

[09:40] {nemo} what

[09:40] {Threei} market drops fast

[09:40] {nemo} wht's the stop...90

[09:41] {Threei} it hit 1:1 before you even rported in, lol

[09:41] {Threei} take scalp

[09:41] {strider} out flat..

[09:41] {Threei} we have numbers in 4 min

[09:42] {dino} shaw gap fill from wed close

[09:42] {Threei} good job on entry strider but misseed exit

[09:42] {strider} futs scared me.

[09:42] {Threei} yes, but it hit .15 before futs drop

[09:42] {Threei} wtf is this

[09:42] {Threei} lol

[09:43] {fernp} don't look at CAT strider

[09:43] {Threei} seriously, what just happened?

[09:43] {strider} no t&S

[09:43] {dino} ndx green

[09:43] {Threei} 20 points jump NQ

[09:43] {strider} scerw it

[09:43] {nemo} good report

[09:43] {strider} screw

[09:43] {Threei} what report

[09:44] {nemo} the numbers in a couple of minutes

[09:44] {Threei} PMI?

[09:44] {nemo} whatever you said was coming

[09:44] {Threei} never saw it having such huge influence

[09:45] {Threei} OCT CHICAGO PURCHASING MANAGERS INDEX: 54.2 V 49.0E

[09:45] {nemo} told ya"

[09:45] {ese} i think my quotes are wrong where fitb

[09:45] {Threei} 9.17

[09:45] {ese} tks

[09:45] {nemo} see if we get sell the news

[09:46] {_Les__} good move exiting flat on CAT. Dropping .70 in such a fashion would have been nasty.

[09:46] {KSystems} michigan sentiment in 10 mins

[09:47] {_Les__} qcom

[09:48] {_Les__} sorry wrong screen

[09:48] {nemo} don't do it again...:)

[09:49] {_Les__} GILD bottoming out Vad?

[09:49] {Threei} not sure I like it

[09:50] {Threei} risk is relatively small, can try

[09:50] {Threei} 43 break

[09:50] {fernp} numbers in 5

[09:50] {Threei} consumer confidence

[09:51] {nemo} kinda' got a sell the news off that last spike

[09:51] {Threei} yup

[09:51] {Threei} Preview: Oct Final University of Michigan Confidence due out at 9:55amET

[09:51] {Threei} **consensus expectation: 70.0e v 69.4 prior

[09:51] {nemo} Having said that a retracement of yesteray, makes sense to. We've had 12%

[09:54] {Threei} let's wait this set of numbers and see if we get short play on NASDAQ

[09:54] {Threei} by going long QID

[09:55] {Threei} OCT FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 70.6 V 70.0E

[09:55] {Threei} good number

[09:55] {Threei} perfect setup if market reverses and hits low

[09:56] {Threei} pullback is too deep for a breakout play

[09:56] {Threei} rather try to catch reversal, IMO

[09:57] {Threei} 22.90 QID's low for stop placement

[09:57] {Threei} ideally, dive under 23,

[09:57] {Threei} no

[09:57] {Threei} ok, no clear entry yet

[09:59] {Threei} 09:58:39 ADMIN7 --} (All): NYSE issues streetwide - causing data problems

[09:59] {dino} seeing it

[10:00] {ese} L fitb .11

[10:00] {ese} don't try this at home

[10:00] {dino} ash

[10:01] {dino} .72 sm l

[10:01] {Threei} ok, QID 23 recross long if holding above .90

[10:02] {strider} recross what?

[10:02] {ese} out fitb .17 +.06

[10:02] {Threei} 23

[10:04] {Threei} a bit too sharp into resistance

[10:06] {Threei} ok, valid

[10:06] {Threei} Long Setup: QID 23 break if holding above .90

[10:07] {dino} esi

[10:07] {dino} missed

[10:08] {dino} good girl ash

[10:08] {ese} dino i'm thinkin 23 break on tsra

[10:09] {ese} i'll say

[10:09] {dino} ? long to 23?

[10:09] {dino} 22.50s

[10:09] {ese} break above 23

[10:09] {ese} 23.01

[10:09] {dino} ahh ok

[10:10] {ese} ahh hang on .75 may work

[10:11] {nemo} hurry up and wait market

[10:12] {Threei} after this QID play resolves one way or another, someone will have to tell me what setup I tried to play on it

[10:13] {nemo} DB

[10:13] {dino} stepping back

[10:13] {dino} we call that the all dayer vad

[10:13] {Threei} not a scalp for me

[10:13] {dino} es whats' your entry on tsra?

[10:14] {ese} nothing yet

[10:14] {dino} ok

[10:14] {ese} am now thinking L at .75

[10:15] {dino} watching trv, shaw, pru, rovi, mrvl here

[10:15] {ese} has to hold .50 though

[10:15] {dino} no go

[10:15] {ese} tsra now invalidated for me

[10:15] {dino} double bottom in making maybe on it

[10:16] {dino} cut ash .02 +.30

[10:16] {ese} nice one on ash

[10:17] {dino} ty

[10:18] {ese} looks like it could still go though

[10:18] {ese} thats a very very nice lookin bull flag

[10:19] {Threei} okay market... time to die

[10:19] {Threei} you fought well

[10:19] {dino} mkt got me out, not fighting it

[10:19] {strider} will you partial at 1:1 vad?

[10:19] {Threei} sure

[10:19] {Threei} or if it spikes through fast, a bit higher

[10:19] {Threei} sometimes QID does that

[10:20] {dino} shaw has gap around 25.80. yahoo states 25 in cash/share fwiw

[10:21] {ese} dino i've put a bstop in on ash at .11 small

[10:22] {dino} wow, idiot move, looking at acct dropping wondering why, i have all l from before vacation

[10:22] {ese} i like the way it's holding up

[10:23] {dino} ok

[10:23] {ese} is that the right symbol?

[10:24] {dino} allstate i was dumbass about

[10:24] {ese} ahhhhh it's just your acount .....dumb dumb dumb es

[10:25] {dino} have to start using postits, :)

[10:25] {dino} esi

[10:28] {strider} may be all day

[10:28] {fernp} stop still under .90, Vad?

[10:28] {dino} esi sm l .65 wide = pulp

[10:28] {Threei} it touched so close to 1:1 that can be trailed to under .95

[10:28] {Threei} kind of personal decision

[10:28] {fernp} thanks

[10:29] {Threei} chart allows for either

[10:29] {ese} ouch

[10:29] {ese} ok l esi .71

[10:29] {dino} ash sm l .01

[10:29] {ese} sm

[10:30] {ese} out esi .81

[10:30] {ese} +.10

[10:30] {dino} gj, i want a buck

[10:31] {Threei} feeling especially humble today dino?

[10:31] {dino} but of course

[10:31] {fernp} ty Vad

[10:31] {Threei} QID 1:1

[10:31] {Threei} half out, stop to under .95

[10:31] {ese} L ash .11 hit my bstop

[10:32] {Threei} don't go anywhere folks, this setup is something I want to discuss

[10:32] {ese} i'm just a small numbers guy dino

[10:32] {Threei} it's not your garden variety setup,

[10:32] {Threei} we rarely play that

[10:32] {ese} found my nich.......good enough for me

[10:33] {Threei} Market Internals update at 10:30amET

[10:33] {Threei} - NYSE volume 225M shares, about 20% below its three-month average; decliners lead advancers by 5.3:1.

[10:33] {Threei} - NASDAQ volume 435M shares, about 23% below its three-month average; decliners lead advancers by 2.3:1.

[10:33] {Threei} - VIX index +3.3 to just over 25.50

[10:33] {ese} come on ash

[10:33] {Threei} CARBX Senator Nelson on CNBC states Cap & Trade will not pass Congress this session (Update)

[10:34] {ese} it's holding up amazing against the market

[10:34] {Threei} really} there is some piece of idiocy they do not intend to push through in a hurry?

[10:34] {ese} there she blows

[10:34] {dino} pcln breaking 50 sma

[10:35] {dino} tsra

[10:35] {ese} auch du miya.....ash

[10:35] {Threei} QID stop to under 23

[10:37] {dino} sm l ..05 tsra stop lod

[10:37] {strider} Vad when you buy on break of 23, e.g. 23.01, do you consider 1;1 at 23.10 or 23.11?

[10:37] {Threei} .10

[10:38] {ese} dino wheres your stop on ash

[10:38] {Threei} .11 would be exact number, but this is not a business of exact numbers

[10:38] {Threei} things have some slack

[10:38] {Threei} and since I prefer to err on a safe side...

[10:39] {dino} .73

[10:39] {ese} tks

[10:42] {dino} watching mrvl for gap fill arouind .75

[10:44] {ese} L fitb .0964

[10:44] {ese} accounting accuracy

[10:45] {nemo} no...you just like doing it

[10:45] {Threei} next portion 1 cent shy of 1:2?

[10:45] {Threei} lol

[10:46] {ese} lol

[10:47] {ese} out ash by the way .08 -.03 was driving me nuts ....don't know how dino puts up with it

[10:48] {strider} going into a range here, vad?

[10:49] {ese} hmmmm was up 600.00 in fitb....should have taken it.....less typing more trading

[10:49] {dino} stupid greed had .40 on tsra

[10:50] {dino} smaller size plays es

[10:50] {dino} hard stop it and let it trade

[10:52] {ese} ya i only had 500shs going there

[10:53] {dino} there you go, throw hard stop on and "no worries"

[10:53] {ese} speaking of greek......or is that greed. shoulda taken the 600 in fitb

[10:53] {dino} saw that

[10:54] {Threei} okay guys, quiet period,

[10:54] {Threei} so let's do two things

[10:54] {nemo} are we back to the opposable thumb conversation

[10:54] {Threei} first, for your visual pleasure, some fall photos

[10:54] {Threei} http://www.realitytrader.com/photography/

[10:55] {ese} whadaya mean quite..........i'm screaming GO FITB GO!!!!!! it's deafining on this side

[10:55] {Threei} lol

[10:56] {nemo} beautiful area

[10:56] {dino} and i'm kicking esi

[10:57] {_Les__} you're a hopeless romantic Vad :). Europe is visually stunning too right now.

[10:57] {dino} old joke, use european in sentance

[10:58] {Threei} romantic eh... this is something I hear once a decade

[10:58] {_Les__} what, from your wife or your students?

[10:58] {ese} gripping chair.....finger marks in upostery.......face turning red........absolute eminating from body motions

[10:58] {ese} terror eminating

[10:58] {dino} "excuse me, euro-peeing in my car"

[10:59] {ese} ahhhh i'm up.....thinks are fine now

[10:59] {ese} things

[10:59] {dino} cmi drop

[10:59] {dino} 4 bucks

[11:00] {Threei} okay, let's get back to that chart

[11:00] {Threei} but instead of QID look at whatever you use for NASDAQ

[11:00] {Threei} NQ, QQQQ

[11:01] {Threei} long call on QID is a short call on NASDAQ,

[11:01] {Threei} and looking at NASDAQ chart,

[11:01] {Threei} see the C&H on 1 min?

[11:01] {Threei} from 9:43 to 10:12

[11:02] {dino} esi vad

[11:02] {dino} getting close

[11:03] {Threei} anyone's alive or\ I am talking to myself?

[11:03] {fernp} I see the C&H, the one that never broke .15

[11:03] {_Les__} Vad, handle is small ascending triangle 10:03 - 10:12?

[11:03] {strider} I' m listening

[11:03] {nemo} yeah.

[11:03] {Threei} yes

[11:03] {Threei} short call on this chart is FAILURE of the C&H

[11:04] {Threei} failutre of this setup is break of the handle's low

[11:04] {Threei} and failure of the setup is a setup too

[11:04] {Threei} now, C&H is sometimes easier to see than inverse one

[11:04] {ese} lovely ...i'm up 3.49 cents

[11:04] {Threei} that's why I suggested to look at NASDAQ instead of QID

[11:05] {Threei} going back to QID, you can see invsrted C&H,

[11:05] {Threei} with handle "bottom" being broken at 23

[11:06] {Threei} to polish the setup, have a look at volume formation:

[11:06] {Threei} volume on second rise to the rim is lower than on first,

[11:07] {Threei} there is some volume increase to the bottom of the cup,

[11:07] {Threei} handle touches the rim on ever-decreasing volume

[11:07] {Threei} Just wanted to go over this since it's not every day's setup and is a tad more sophisticated than most

[11:07] {ese} hmmm would have never seen that vad

[11:08] {ese} agreed

[11:08] {Threei} Original idea comes from my strong convition that we are seeing simple bounce

[11:08] {Threei} so I was on a lookout for some fake raly attempt

[11:08] {Threei} that wouyld fool bulls

[11:08] {dino} stop esi .43, +.78

[11:08] {nemo} qid popping as you write

[11:09] {Threei} and failure of some of traditional setups is just perfect

[11:09] {ese} and so is ash......nice one dino

[11:09] {dino} ash to flat

[11:09] {dino} lucky, but thx

[11:10] {dino} ash reminds me of woodpecker joke

[11:10] {ese} ?

[11:11] {nemo} dino on a roll today

[11:11] {ese} yes he is

[11:11] {ese} joke?

[11:11] {dino} woodpecker says to his depressed woodpecker buddy, "you know what you need, a nice piece of ash"

[11:11] {_Les__} Vad, was volume key to failure?

[11:12] {ese} riiiiiiiiiiiiight

[11:12] {Raven} sigh

[11:13] {Threei} one of pieces to the mosaic

[11:14] {ese} well.........i guess the joke could have been a raven

[11:14] {nemo} nah

[11:15] {ese} ya......your right

[11:15] {dino} lol

[11:15] {Threei} now QID itself forms C&H

[11:15] {dino} thats what you hearwhen you have logger friends

[11:16] {dino} esi holds well

[11:16] {ese} was just looking at that.....almost same pattern as ash

[11:17] {ese} was thinking long at .60

[11:18] {dino} cmi strange, they luved it now hate it. beat and raised

[11:18] {ese} how long will you let ash trade dino

[11:18] {ese} you got a target

[11:18] {dino} all day unless stop hits

[11:18] {dino} 35

[11:19] {ese} fitb puts in higher low

[11:19] {dino} damn distracted cmi goes .550

[11:19] {ese} this is longer than i would normally hold this.....but it's holding up well as well

[11:19] {dino} w/o me

[11:20] {ese} higher low on the 1 min chart by the way

[11:24] {dino} cmi weaiting at .50

[11:24] {dino} waiting

[11:24] {ese} this is almost funny except for the fact that this is a serious business being up 3.49cents with the # of k's i have riding on this

[11:24] {strider} out 2nd part QID

[11:24] {Threei} QID 1:2, 1/4 more out

[11:24] {fernp} Vad, what is there in the third pic? is a flower, an insect?

[11:24] {dino} gj

[11:25] {dino} ash out flat

[11:25] {Threei} a berry

[11:25] {strider} Vad does it make sense to hold a little QID for serious market tanking?

[11:25] {Threei} one you get after wild rose bloom is over

[11:25] {dino} tsra to .99

[11:25] {Threei} [11:24] {Threei} QID 1:2, 1/4 more out

[11:25] {Threei} this is what I do

[11:26] {Threei} HGSI ignores market

[11:26] {_Les__} berry is called a rose hip - http://en.wikipedia.org/wiki/Rosehip

[11:27] {strider} So you hold part of the last 1/4?

[11:27] {Threei} that's it, thank you

[11:27] {Threei} holding last 1/4

[11:27] {strider} k

[11:27] {Threei} what's the deal with no one understanding what I say last couple days... did my English get worse?

[11:28] {Threei} nah, can't be, it was rock bottom as it was

[11:28] {ese} ddaaaaaaaaaaa!!! get up there fitb

[11:28] {strider} I was wondering if you sometimes hold part of the last 1/4 for more than 3:1

[11:30] {_Les__} Isn't Lari supposed to be policing your english? she been MIA since I signed on..

[11:30] {Threei} depends on origional number of shares

[11:30] {ese} larisa...hmmmmmm good question

[11:31] {Threei} if it's not a lot, I maay just hold last 1/4 andf trail the stop

[11:31] {Threei} if a lot, may partial more

[11:31] {dino} who are you the cat in the hat

[11:34] {dino} cmi sm l .00

[11:35] {dino} stop is .67

[11:35] {Threei} 1:3

[11:35] {Threei} make your decision, to exit in full or to trail to under .10

[11:35] {dino} tsra stopped -.06

[11:37] {dino} stopped cmi, mkt got me

[11:37] {Threei} 1:4

[11:37] {Threei} if trailing, stop to under .20

[11:37] {Threei} I am out

[11:37] {strider} out last +.41

[11:38] {strider} thx Vad

[11:38] {Threei} +.44

[11:38] {Threei} was it a beauty or was it a beauty

[11:38] {dino} wtg

[11:38] {Threei} ty

[11:38] {strider} A good lesson in patience for me.......patience, are you there? :)

[11:39] {dino} gaps ndx 1682, s/p 1042

[11:39] {strider} 1 hr. 35 min. trade

[11:39] {Threei} speaking of phootgraphy... new lens on the way, ultrawide angle

[11:39] {Threei} whole new way to see the world

[11:39] {Threei} can't wait

[11:40] {strider} Ultrawide...isn't that a Harley?

[11:40] {Threei} no

[11:40] {_Les__} fish eye! like what 8mm, 16mm?

[11:40] {Threei} not fisheye

[11:41] {Threei} 9-18 mm... in 35mm terms. 18-36

[11:42] {nemo} apol holding today dino

[11:42] {Threei} anyone but strider took whole QID move?

[11:42] {dino} watching it for esi

[11:43] {Threei} 40 cents is darn nice one on a slow day

[11:43] {dino} wed gaps on stocks are filling

[11:43] {Threei} but the best part of this play is setup itself

[11:43] {strider} HIG?

[11:43] {dino} tsra rinsed

[11:43] {Threei} it's so evilishly sophisticated

[11:43] {Threei} HIG forms breakdown

[11:44] {_Les__} in 35 mm terms? U using large/medium format camera?

[11:44] {dino} ghoulishly for the season

[11:44] {Threei} no

[11:44] {Threei} just using 35 reference for unifying the terrms

[11:45] {Threei} with all the different crops of today's sensors, need something standard to make sure we speak of the same thing

[11:45] {Threei} Short Setup: HIG .50 break

[11:45] {Threei} if stays under .85

[11:45] {Threei} .65

[11:46] {strider} crap

[11:46] {nemo} looked at mirc

[11:46] {Threei} 1:1

[11:46] {strider} how'd you get that?

[11:47] {Threei} limit .47, hit when .50 started melting, got .48

[11:48] {nemo} hah

[11:48] {nemo} fcx did the straight 45 degree up yesterday, doing the opposite today

[11:49] {Threei} btwm last photo on that page is one of rare cases when I am totally hapy with everything, hit all I wanted just right

[11:49] {Threei} colors, composition

[11:49] {Threei} direction of the shade

[11:49] {Threei} I mean this one

[11:49] {Threei} http://www.realitytrader.com/photography/uploaded_images/Backyard-party3-739608.jpg

[11:52] {nemo} aapl crashed

[11:52] {_Les__} U like form and shape do you? so do i

[11:53] {Threei} whoa

[11:53] {Threei} QID 1:7

[11:53] {Threei} that's beyond what I expected

[11:54] {nemo} quite the retracement of yesterday

[11:54] {nemo} low volume though

[11:54] {Threei} almost all of it

[11:54] {_Les__} so this is bounce or post bounce reversal? The new trend in?

[11:54] {Threei} yeah, I whish we had more volume today

[11:54] {fernp} you still in QID, Vad?

[11:54] {Threei} would givbe me more confidence in downtrend continuation

[11:55] {Threei} no fern, sold .44

[11:55] {nemo} we also talked about the aggravating sideways grind that would piss off the most people

[11:55] {dino} ndx filled

[11:55] {Threei} I doubt it's an option for the next week

[11:56] {Threei} I feel we will have some resolution

[11:56] {Threei} too much tension in the air

[11:56] {Threei} if we make new low today, it will start smeling like a quick nasty crash

[11:58] {Threei} well well well

[11:58] {Threei} guess who is on TV

[11:58] {nemo} Emily Watson?

[11:59] {Threei} wow

[11:59] {Threei} getting deeper nemo

[11:59] {nemo} I switched back today

[11:59] {dino} tsra holds the bottom well es

[11:59] {Threei} good

[11:59] {Threei} you mean I can accept a scotch from you wihout being extracareful?

[11:59] {nemo} remember...Barney's my Congressman

[11:59] {dino} shaw july gap

[12:02] {dino} history channel, hallooween

[12:03] {strider} celts & druids?

[12:05] {dino} yes

[12:05] {nemo} when it on?

[12:05] {strider} AMZN dbl bottom

[12:05] {dino} better than cnbc

[12:05] {strider} whoops.

[12:05] {dino} now nemo

[12:05] {nemo} oh

[12:06] {dino} cmi sm l .75

[12:06] {dino} stop .43

[12:07] {strider} 7% in DC betw.40-49 have HIV/AIDS

[12:07] {dino} tsra sm l .00, stop lod

[12:08] {ese} out fitb .13 +.03 and a bit

[12:09] {ese} i'm takin my 600.00 and be done with it

[12:09] {dino} gj

[12:09] {Threei} yours eh

[12:09] {ese} tks

[12:09] {Threei} let me tell ya

[12:09] {Threei} a few seconds ago it was someone's 600

[12:10] {ese} definitely....was wondering what the H was going on there

[12:10] {strider} good trades dino

[12:10] {_Les__} hey, where's my money gone on fitb?? :P

[12:11] {Threei} lwet it be a lesson... do not trade against ese

[12:11] {_Les__} a sucker born every minute. I'm shimmying up the grease pole so I'm no longer bottom of the pile...

[12:11] {_Les__} learning to shimmy

[12:14] {strider} RIMM short?

[12:14] {fernp} out here FITB from. 9.06 :)

[12:14] {Threei} hard to tell

[12:14] {ese} nice one fern

[12:15] {fernp} ty

[12:15] {Threei} if market drops sharply and RIMM gives little delay, yes, I'd go for it

[12:15] {ese} it just exploded up there

[12:15] {Threei} otherwise, no

[12:15] {strider} thx

[12:15] {Threei} (US) SEC Staff: changes the price used for oil and gas reserves

[12:15] {Threei} huh?

[12:15] {Threei} what does it mean?

[12:16] {Threei} (US) SEC Staff: issues new accounting rules for oil and gas reserves, removes exclusions for oil sands and shale gas (related USO )

[12:16] {Threei} ok... more clear

[12:16] {Threei} Market Internals update at 12:00pmET

[12:16] {Threei} - NYSE volume 390M shares, about 20% below its three-month average; decliners lead advancers by 7.4:1.

[12:16] {Threei} - NASDAQ volume 875M shares, about 13% below its three-month average; decliners lead advancers by 2.8:1.

[12:16] {Threei} - VIX index +9% to just over 27.00

[12:17] {dino} rimm entering that big gap area 48--58

[12:18] {fernp} Why have I sold FITB at .17?

[12:19] {fernp} another sleepless night....

06[12:19] * strider slaps fernp around a bit with a large trout

[12:19] {Threei} lol

[12:19] {nemo} big bid on rimm @ .23

[12:19] {nemo} eh, nevermind

[12:19] {ese} because......theres more where that came from another day

[12:20] {ese} you can bet the pros are selling into that run fern so might as well be doing it as well

[12:20] {ese} you

[12:20] {fernp} yeah, was my 1:2

[12:21] {Threei} beautiful setup you found guys

[12:22] {Threei} (almost as good as my QID)

[12:22] {ese} once your out of the mind set of....damn look at how much more money i could have made your fine

[12:22] {fernp} almost

[12:23] {ese} thats maybe the biggest thing i had to learn here........and i lucked out today.....i know this tock but still

[12:23] {ese} first opportunity.....was gone

[12:26] {Threei} sharp markety drop took RIMM with it but without little delay for entery

[12:26] {dino} out cmi .04, +.29

[12:26] {nemo} nice spelyng

[12:26] {dino} out tsra .15, =.15

[12:26] {Threei} DJI -173

[12:26] {dino} +

[12:26] {Threei} was what, about +205 yesterday?

[12:27] {dino} 9762 was wed close

[12:28] {Threei} -200

[12:28] {ese} need rimm to get down to 48/50

[12:28] {Threei} beautiful

[12:28] {nemo} 199

[12:29] {ese} 58.13 and it's gone rimm

[12:30] {strider} ese, is DRYS where you want it?

[12:30] {Threei} GERN Reaches Agreement on Clinical Hold with FDA

[12:30] {Threei} -announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)... (6.18, +0.41, 7.11%) more...

[12:30] {Threei} announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)-based product, GRNOPC1, for the treatment of spinal cord injury. The plan is expected to enable Geron to re-initiate the Phase I clinical trial of GRNOPC1 in patients with complete thoracic spinal cord injury and to support future expansion of the trial to patients with cervical injuries.

[12:31] {ese} nope not yet

[12:31] {ese} but i've been dabbling on the way down

[12:31] {ese} just in case

[12:33] {ese} i'd like to see it around 5.50 although it may not get there

[12:34] {ese} was in and out with 20k yesterday for +.13

[12:35] {strider} How long have you been trading?

[12:35] {dino} es like 60 years

[12:35] {ese} not long enough with vad......had i met him 10 years ago it would be my full time occupation

[12:36] {Threei} yeah, I was handsome man back then

[12:36] {Threei} oh wait... that's not what you mean

[12:36] {_Les__} 20k ese. Risk management?

[12:36] {nemo} huh?

[12:36] {nemo} who's switch hitting today?

[12:36] {ese} 2% max any day

[12:37] {nemo} rimm coming into resistance

[12:38] {_Les__} ok. trying to work out profitable means of applying 10G, but obeying for 1st time Vad's law of risk management

[12:39] {dino} shaw sm l .60

[12:42] {Threei} Iraqi Immigrant on the Run, Accused of Running over His daughter Because he Thought She Was Too Westernized

[12:43] {nemo} yeah...saw that this morning

[12:43] {Threei} Just how screwed up one must be to do this?

[12:43] {dino} messed up

[12:43] {nemo} Sharia Law...they can kill their wives and daughters under certain circumstances

[12:43] {dino} they use religion to keep their people down

[12:44] {ese} there are numerous risk management ideas les.....for me i cut it off if i loose 500.00 in any one day

[12:44] {nemo} It's their code

[12:44] {strider} HIG forming c&h

[12:45] {dino} some day the wives and daughters will organize and give some back

[12:45] {strider} pointy

[12:45] {ese} even though my 2% is between 15k and 25k

[12:45] {nemo} only, maybe, if there here, but Islamic communities are growing...Hell, the Brits decided Sharia must be considered in legal cases

[12:46] {dino} you want to stop this nonsense, tax it.

[12:47] {strider} HIG vad?

[12:48] {dino} drop

[12:48] {_Les__} honour killings different from Sharia law

[12:48] {dino} breaking support

[12:48] {KSystems} next leg

[12:49] {nemo} my timing totally off today

[12:49] {ese} was that story from canada vad?

[12:49] {strider} missed againt

[12:49] {strider} again

[12:49] {nemo} Arizona I thinnk

[12:49] {dino} shaw out flat

[12:50] {ese} because we just had one from down east......where the son and the father drove daughters and cousins into a canal and drown them

[12:51] {_Les__} AIG looking for further b/d

[12:52] {strider} missed the trigger.

[12:53] {nemo} apol finally dropped

[12:54] {Threei} I am not sure what you were looking for in HIG strider

[12:54] {Threei} you said C&H

[12:54] {_Les__} oops. AIG found support

[12:54] {_Les__} and buying volume

[12:55] {strider} cup from 11:57 to 12:29

[12:55] {strider} support of 12.265

[12:55] {Threei} oh, you mean inverse c&h

[12:55] {strider} cup was pointe.

[12:55] {strider} well, yeeeeeeessssssss

[12:56] {Threei} As if it's understood by default, lol

[12:56] {strider} Coffee hadn't been poured yet.

[12:56] {strider} so solly

[12:56] {strider} It worked, too...but once again, I missed the boat.

[12:57] {strider} I've madee a lot of theoretical money today.

[12:58] {strider} Going to the theoretical bank later.

[12:58] {dino} lol

[12:59] {Threei} where is magoo

[12:59] {Threei} I got AIG play for him

[12:59] {Threei} double bottom off .50 is dives closer to it

[12:59] {dino} what do you think, b-day finish

[12:59] {dino} feels like it

[13:00] {strider} b-day?

[13:00] {dino} -317

[13:00] {ese} maybe he thinks you don't care vad.....you know how sensitive he is

[13:01] {Threei} sensitive magoo?

[13:01] {Threei} now, that's image I need a hot iron to burn out of my mind

[13:01] {ese} lol

[13:02] {strider} where do you place a stop on the magoo dbl bottom, vad?

[13:02] {Threei} I am scared to answer that

[13:02] {Threei} Long Setup: AIG .60 break if stays above .50

[13:02] {dino} he took his son mx racing

[13:03] {nemo} what setup is this Vad? higher low

[13:03] {Threei} double bottom with higher low

[13:04] {Threei} not a scalp for me

[13:04] {Threei} 1:1

[13:04] {Threei} with any market help should be good for something above .90

[13:04] {dino} shaw again, sm l .50

[13:06] {strider} hey bk:)

[13:06] {bkhmd} hey Stride hey all

[13:06] {Threei} bk :)

[13:07] {Threei} missing good days

[13:07] {bkhmd} yes had to travel for work

[13:07] {bkhmd} today is good trading?

[13:07] {Threei} yup

[13:08] {bkhmd} wow what happened to the DOW? lol

[13:08] {fernp} missed AIG, Vad. valid entry if returns to .61?

[13:08] {strider} long shaw, .47

[13:08] {bkhmd} mostly short plays today or bounces?

[13:08] {Threei} not sure fern

[13:08] {Threei} both bk

[13:09] {Threei} short was the biggest

[13:09] {bkhmd} k i will grab the next set up

[13:09] {dino} eyes on esi

[13:10] {ese} fern.....theres the reason you did the right thing with fitb

[13:10] {Threei} CIT WSJ: Icahn will provide $1B back up line; will agree to standstill agreemenet (0.81, -0.14, -14.84%)

[13:11] {Threei} half out AIG

[13:11] {fernp} wow!, ty ese

[13:12] {ese} could be a brutal month november.....if the month goes out like this it's usually the pre curser for the next month.......is that correct?

[13:13] {Threei} no

[13:13] {dino} not this month, started 9 of 12 down from end of sept

[13:13] {dino} imo means nothing (yet)

[13:14] {ese} i'd read that somewhere...don't remember....

[13:14] {Threei} would be too easy

[13:14] {ese} althought reading 250 trading books made me no money until hooking up with you all

[13:14] {Threei} look at the last day of the month, go in that direction for the next 29 days

[13:15] {Threei} if such things worked...

[13:16] {dino} es 09-23-09- 9917, 1754, 1080; 10-02-09- 9484, 1662, 1019

[13:16] {dino} and cramer still talking how eom markups happening, not!

[13:17] {ese} went to Russells used books here a year ago and gave them 203 trading books in exchange for $125.00 credit.....that should tell you something

[13:18] {ese} kept the other 47 or so for historical reference

[13:19] {dino} trv sm l .50

[13:19] {ese} each of those books was easily over 50.00 average easilly........only have vads and one other on my trading desk now

[13:20] {dino} i still have 20

[13:20] {Threei} one other is Marx's Das Capital of course?

[13:20] {nemo} Das Kapital

[13:20] {ese} never read that one

[13:21] {nemo} I remember going to East Berlin before the Wall fell.

[13:21] {dino} or so. but the only ones that mattered, trading in the zone, vad's, and reminisses of stock operator

[13:21] {nemo} Bought an East German Economics text

[13:21] {Threei} ok... Decameron's Bocaccio then

[13:21] {nemo} First line: "Capitalism stinks, it's parasitic, and foul"

[13:22] {Threei} signed: Michael Moore

[13:22] {ese} i bought a book in Denmark......."how to drink heavily in 12 easy steps"

[13:22] {dino} and way of the turtles first half

[13:22] {_Les__} Nothing wrong with Marx's theory on Capital. He understood it well. Marx's "communist manifesto" has less oomph today

[13:23] {dino} whats wrong is assuming there is a better system

[13:23] {nemo} Mix human ego in with utopian thinking

[13:23] {Threei} yeah... as someone who actually lived in the country built on his ideas, I could list endless ways in which it was wrong :)

[13:24] {ese} agreed....thats why drinking your way through any system works well

[13:24] {_Les__} I don't confuse his understanding of capitalism and his theory of communism...

[13:24] {Threei} well, you can't separate them

[13:24] {Threei} his whole work is built on the contrast

[13:24] {Threei} this is what is wrong with capitalism, and this is how to fix it with communism

[13:25] {strider} AIG rinse

[13:25] {nemo} no rinse...just stopped

[13:25] {strider} multi-cycle rinse

[13:25] {Threei} to be precise, second half stopped breakeven

[13:26] {nemo} Now we have fasciscm run by a socialist President/Congress

[13:26] {Threei} first is out after 1:1

[13:26] {Threei} follow the routine guys

[13:26] {Threei} this is how we play them

[13:26] {Threei} never turn 1:1 play into loss

[13:26] {nemo} yes Vad...rinse is Dino's term for Vad's "rude"

[13:27] {Threei} it's still under

[13:27] {Threei} thus it's not a rinse and not rude

[13:27] {Threei} yet

[13:27] {nemo} I was commenting on the term

[13:27] {Threei} now... if it bottoms out here and goes to 35

[13:27] {Threei} that will be rude

[13:27] {nemo} that's rude

[13:27] {strider} dino you still in shaw?

[13:28] {dino} y

[13:29] {ese} Mabon Teenie Hodges said it best with a tune he co wrote with Al Green. called "Take Me Too The River" I don't why you treat me like you do.......with all of the changes that you put me though..You took my money and my cigarettes and i haven't hide nor hair of you yet.......I wanna know etc etc....Chorus....Take me to the River.....and wash me doown.......ou

[13:29] {ese} seen befor "hide"

[13:30] {nemo} took aig for a scalp under .40

[13:30] {nemo} +10

[13:30] {nemo} .10

[13:30] {nemo} 10 I'd go home

[13:30] {nemo} Vad, you haven't asked today?

[13:31] {strider} amgn big rude rinse

[13:31] {Threei} no

[13:32] {dino} shaw out +.05 trv out -.20 don't like drop

[13:32] {strider} amgn continues

[13:32] {strider} or not

[13:33] {fernp} Vad, when the trade is a "not a scalp for me" type :-). After hit 1:1, stop is raised to the entry point, or to a "tested" support level under our entry point?

[13:33] {fernp} you did that with QID this morning

[13:34] {Threei} fern, routine procedure:

[13:34] {Threei} 1:1, half out, stop to b/e

[13:34] {Threei} 1:2, 1/4 more out

[13:34] {bkhmd} Fern I have same question but didnt want t o get Fish on face

[13:34] {bkhmd} lol

[13:34] {dino} 400 pts has been normal pullback dji, we are there

[13:34] {fernp} ok. keep it simple

[13:35] {bkhmd} thanks for clarification

06[13:35] * nemo slaps bkhmd around a bit with a large trout

[13:35] {bkhmd} I learn someting new here every day

[13:35] {bkhmd} thanks nemo

[13:35] {bkhmd} First day on board i learn how to slap somoene in face with trout

[13:36] {fernp} FITB capitulating

[13:36] {bkhmd} second day i learned had to be here 3 years b4 I can slap

[13:36] {Threei} hmmm

[13:36] {dino} lol

[13:36] {Threei} who told ou that?

[13:36] {Threei} slap him right now

[13:36] {nemo} ahh...kinda' like Social Security...raising the age

[13:36] {bkhmd} 3rd day i learned People dont like caps in name

[13:36] {bkhmd} lo

06[13:36] * strider slaps bkhmd around a bit with a large trout

[13:37] {nemo} why did trout become the fish of choice?

[13:37] {bkhmd} smells better?

[13:37] {dino} trv sm l .10

[13:37] {nemo} you ever sniff trout?

[13:37] {bkhmd} of course ow else would i know if fresh?

[13:38] {dino} had them laying in hunt club driveway

[13:38] {dino} dam broke

[13:38] {bkhmd} my guess would be not so fresh

[13:38] {bkhmd} lol

[13:38] {bkhmd} GLD wanted to make a move but then stalled

[13:39] {bkhmd} does GLD usually travel against the general market?

[13:39] {Threei} no, not lately

[13:39] {Threei} mostly moves with market

[13:39] {Threei} and both move against USD

[13:39] {dino} cmi sm l .65

[13:40] {Threei} but I feel for a while they will decouple soon

[13:40] {dino} too soon

[13:40] {dino} gld contrary $ lately

[13:40] {bkhmd} Vad what are you using to track the dollar? compared to which currenc

[13:40] {bkhmd} currency

[13:40] {nemo} uup

[13:40] {Threei} UUP

[13:41] {dino} extrapolate, $ is contrary to gold and stocks lately

[13:41] {nemo} read your mind Vad...disgusting

[13:41] {Threei} I don;t care about other currenies... except CAD which I want to drop dead

[13:41] {Threei} that would be FXC

[13:41] {dino} tsra holds well here es

[13:42] {dino} darn shaw tricked me

[13:43] {nemo} might want to partial cmi here dino

[13:43] {strider} +.10 trv, thanks, dino

[13:44] {dino} np

[13:44] {dino} sm nemo, want .30-.55

[13:44] {dino} should get to .15

[13:44] {dino} pattern

[13:44] {nemo} greedy long on a day like today? call you magoo

[13:44] {dino} trv should get to .50

[13:45] {dino} big difference, i'm trading 300-400 only

[13:46] {strider} HIG forming yet another REVERSE c&h

[13:46] {dino} plus nemo, i use hard stops

[13:47] {dino} cmi to b/e

[13:48] {strider} looks fore like a dbl bottom, hig?

[13:48] {strider} more

[13:49] {fernp} HIG in lunchtime is not a god candidate IMHO

[13:49] {dino} almost 2:00 pm

[13:49] {nemo} he must be mountain time

[13:50] {fernp} yeah!!!, we moved back clocks last saturday

[13:50] {fernp} GMT+1

[13:50] {nemo} not as dumb as I look...

[13:51] {nemo} then again...nobody could be THAT dumb

[13:51] {nemo} Just call me "Agarn"

[13:51] {dino} rovi holds well

[13:51] {dino} intc too

[13:51] {dino} mrvl

[13:54] {fernp} FITB breakdown?

[13:54] {dino} out cmi .85

[13:55] {dino} +.20, sometimes i expect too much nemo

[13:55] {Threei} I am hesitatnt to continue playing short side fern

[13:55] {nemo} broken clock moment, dude

[13:55] {dino} lol

[13:55] {Threei} odds become increasingly worse

[13:56] {nemo} yeah, shorts are probably going to want to cover for the weekend

[13:56] {Threei} well, this logic I don't buy

[13:56] {fernp} yes i think so nemo

[13:56] {nemo} Why, they making good money today

[13:56] {Threei} yes... but

[13:56] {dino} pru gap close to filled

[13:57] {nemo} but...but...but...but...

[13:57] {Threei} to know what is more likely, shorts wanting to cover or longs wanting to get out

[13:57] {Threei} and which side will overpower the other

[13:57] {Threei} you need to know the disbalance

[13:58] {nemo} so flat for the rest of the day?

[13:58] {Threei} and if you or anyone can come up with the way to do that... Bill Gates will be your doorman

[13:58] {nemo} Let me get the chicken...

[13:58] {Threei} why flat?

[13:58] {Threei} my point is,

[13:58] {nemo} Where are those crystals?

[13:59] {Threei} whatever happens at the close,

[13:59] {Threei} the logic who is going to get out is not going to help you figure it out

[13:59] {Threei} It's false logic

[13:59] {Threei} it works only in one case:

[14:00] {Threei} when you have some strong reason to read the disbalance

[14:00] {Threei} as in:

[14:00] {Threei} longs piled up hugely,

[14:00] {Threei} there are way too many of them

[14:00] {Threei} or shorts leaned in too strongly

[14:00] {Threei} and it's not like this kind of things is obvious all the rtime

[14:00] {Threei} or even often

[14:01] {Threei} it's rare cases when you get clear read on such disbalance

[14:01] {Threei} otherwise calling reversals would be easy

[14:01] {Threei} see my point?

[14:01] {nemo} yes

[14:01] {dino} so nemo, in regards to the close or monday for that matter, you make me think of trading w/the zone, the only rule you need to get from the book, is this; "anything can happen"; therefore, no worries

[14:01] {fernp} shorted small shares FITB at .93 w/stop above .95, so I am not nervous with my position :)

[14:02] {Threei} lol fern

[14:02] {Threei} that's what I call extreme risk control

[14:02] {fernp} and easy 1:1 lol

[14:02] {Threei} rofl

[14:02] {fernp} just letting trade

[14:02] {nemo} probably cost you more to trade a share than the stop

[14:03] {ese} nnnnooooooooo rimm........you can't recover.........auch du miya

[14:04] {nemo} I almost went short at .30 about 10 minutes ago, before Vad piped up...

[14:04] {dino} affy

[14:05] {Threei} on what nemo? RIMM?

[14:05] {nemo} yes

[14:05] {nemo} CMI rinse Dino

[14:06] {nemo} it peaked above S3 then dropped and came up again on lower volume and then dropped to .15

[14:06] {dino} well, made .20 on it, but i chickened out

[14:06] {fernp} stopped FITB. I've reached my maximun daily loss :-)

[14:06] {Threei} lol

[14:06] {Threei} some recovery in progress

[14:07] {Threei} Long Setup: AIG .25 brak

[14:07] {Threei} if stays above .15

[14:08] {ese} outta here for the weekend....take care all see you in november

[14:08] {Threei} take care ese

[14:08] {ese} see ya vad

[14:08] {fernp} bye ese

[14:08] {dino} cya es

[14:08] {ese} dino fern

[14:08] {bkhmd} later ese

[14:09] {Threei} invalidated

[14:10] {fernp} HIG 24.50 break?

[14:10] {nemo} market backing off

[14:11] {nemo} Rimm coming up on VWAP just @ .72, could be a turn

[14:11] {Threei} not sure about HIG

[14:11] {Threei} Market Internals update at 2:00pmET

[14:11] {Threei} - NYSE volume 720M shares, about 5% above its three-month average; decliners lead advancers by 14.2:1.

[14:11] {Threei} - NASDAQ volume 1.51B shares, about 4% above its three-month average; decliners lead advancers by 4.1:1.

[14:11] {Threei} - VIX index +24.5% to just under 31.00

[14:22] {nemo} apple forming .20 range

[14:29] {nemo} V C&H

[14:30] {Threei} if market establishes upward direction, could be a pretty one

[14:31] {nemo} see saw right now

[14:35] {Threei} this smackdown is perfect illustration of how setup turns into trap when played against the market

[14:36] {dino} rinse market

[14:36] {fernp} was thinking the same watching V

[14:46] {dino} pru sm l .50

[14:54] {patience} .

[14:54] {Threei} Long Setup: AIG .05 break

[14:54] {Threei} if stays above .90

[14:55] {dino} lol, howards simons on real $; white house trumpeting the saving of 650,000 jobs; by similar logic i am responsible for saving the virginity of 30 million women

[14:55] {fernp} lol

[14:55] {nemo} I would have thought more in your case Dino

[14:56] {Threei} I'll take responsibility to 30 mil more dino

[14:56] {nemo} saving it Vad, not despoiling

[14:56] {Threei} between two of us, we are good humanitarians

[14:56] {dino} :)

[14:57] {nemo} volatility thy name is AIG

[14:57] {Threei} yeah

[14:57] {fernp} invalidated, no?

[14:57] {Threei} some nervous jumps everywhere

[14:57] {nemo} evil "they" manipulating the stock

[14:57] {Threei} let's better try to catch pullback

[14:58] {Threei} break is way too dangerous

[14:58] {fernp} too random and friday... Have a nice weekend everybody. See you all on monday.

[14:58] {Threei} have a good one fern

[14:59] {Threei} I'll have to leave in 30 min too to catch that torch

[14:59] {bkhmd} later fern

[14:59] {nemo} oil down $3..must be supply/demand

[15:00] {strider} are we waiting to catch a pullback? If so where?

[15:01] {Threei} I'll tell if I see it

[15:01] {strider} :)

[15:02] {dino} cya fern

[15:04] {Threei} RIMM is not dropping with market

[15:05] {Threei} gave up now

[15:05] {Threei} shorts are not in hurry to cover eh?

[15:05] {Threei} -270

[15:06] {nemo} nope...thought you didn't believe in that?

[15:06] {Threei} how's that for a bounce smackdown

[15:06] {Threei} nemo, are you completely misreading what I say or what

[15:06] {Threei} what in this made you think I believbe in it now?

[15:12] {nemo} of course...

[15:14] {nemo} frickin rimm

[15:19] {Threei} nice bounce but didn't give clear setup worth the risk

[15:19] {nemo} no

[15:24] {ese} logged in to see what was going on.....had a class cancelled.

[15:25] {Threei} because of onlympic torch??

[15:25] {ese} hmmmm maybe

[15:27] {dino} not much es

[15:29] {dino} esi sm l .75

[15:32] {Threei} okay guys... honestly, don't want anymore trade in this nervous close, it's been somewhat exhausting week

[15:32] {Threei} I believe we handled it well

[15:32] {nemo} PPT should show up at any time

[15:32] {Threei} with some days hitting 100%,

[15:32] {nemo} you had a good week

[15:32] {Threei} and generally staying on winning side except of Monday I think

[15:33] {nemo} that was flat I think

[15:33] {Threei} unless my memory fails

[15:33] {Threei} yeah, last week we had couple losing days, you are right

[15:33] {Threei} going to try and catch that torch now,

[15:33] {strider} I would be doing OK, if I can just get my executions right.

[15:33] {Threei} you have youreselves a good relaxing weekend

[15:33] {dino} wtg vad

[15:33] {strider} Still flubbing things a bit.

[15:33] {dino} u2 bro

[15:33] {Threei} ask for help next week strider?

[15:33] {bkhmd} take care Vad thanks for the lesson

[15:34] {strider} yeah.

[15:34] {Threei} if there are questions we will answer them all

[15:34] {dino} have 3 to get rid ofyet

[15:34] {Threei} wow dino... don't lose track of time :)

[15:34] {strider} I think I know what to do...just get flustered sometimes on fast stocks.

[15:34] {Threei} see you all on Monday!

[15:34] {strider} See ya.

[15:34] {bkhmd} good weekend